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SCR 32
As Introduced

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S. C. R. No. 32 As Introduced

As Introduced

129th General Assembly

Regular Session

2011-2012

S. C. R. No. 32

Senator Jordan

Cosponsor: Senator Seitz

A CONCURRENT RESOLUTION

To urge Congress to pass the "Federal Reserve Transparency Act of 2012."

BE IT RESOLVED BY THE SENATE OF THE STATE OF OHIO
(THE HOUSE OF REPRESENTATIVES CONCURRING):

       WHEREAS, The Federal Reserve System is not fulfilling its mandate to promote a healthy United States economy that is conducive to job growth and financial security; and

       WHEREAS, The lack of transparency in the Federal Reserve System prevents the public from accurately determining the impact that Federal Reserve decisions have on the nation's ongoing economic crisis; and

        WHEREAS, Actions taken by the Federal Reserve have compromised the integrity of the dollar, contributed to the skyrocketing national debt, and damaged our standing in the world; and

        WHEREAS, In order to address these issues, the United States Congress has proposed the "Federal Reserve Transparency Act of 2012," H.R. 459, which waives existing restrictions on Federal Reserve System audits and requires the Comptroller General to audit the Board of Governors of the Federal Reserve System and the Federal Reserve banks within twelve months after the Act becomes law; and

        WHEREAS, Congressional adoption of the "Federal Reserve Transparency Act of 2012" is necessary to promote transparency of the Federal Reserve System; now therefore be it

        RESOLVED, That we, the members of the 129th General Assembly of the State of Ohio, urge the Congress of the United States to pass the "Federal Reserve Transparency Act of 2012"; and be it further

        RESOLVED, That the Clerk of the Senate transmit duly authenticated copies of this resolution to the President of the United States, the President Pro Tempore and Secretary of the United States Senate, the Speaker and Clerk of the United States House of Representatives, each member of the Ohio Congressional delegation, and the news media of Ohio.