H.R. 1207 is currently in the House Financial Services committee, with a hearing having been held on September 25.
No report has been issued regarding this bill on the committee’s website. The list of reports can be viewed HERE.
There is no further action noted on the current schedule, which can be seen HERE.
A fairly exhaustive search of a number of sources, including some listed here seems to reveal that H.R. 1207 is in that misty limbo land of “in committee”.
That is not a bad thing, to be sure. Frustrating? Yes.
WHEN will H.R. 1207 go to the House floor for a vote? Maybe the bill will need 400 sponsors.
It seems to me, when over half of a legislative body is listed as sponsoring a bill, that bill deserves a vote. It should trouble every American, regardless even of their knowledge on a particular piece of legislation, why that bill would not make more visible progress with such a high number of sponsors.
In any case, I’ve compiled some information on the bill, the Fed, and suggested action by H.R. 1207′s original sponsor, Rep. Ron Paul.
Govtrack.us lists 297 co-sponsors as of yesterday, October 2.
The Business Wire site reports 299 as of today, through a Campaign for Liberty report.
The New American gave a report from the September 25 Committee Hearing
Article in the Washington Post on September 27:
Federal Reserve Appeals Court Order To Disclose Loans Bloomberg, Sept. 30.
Rep. Ron Paul’s website seems to be updated regularly with the list of sponsors and also recommends a plan of action. Paul’s site lists the number of sponsors at 295, so will likely have the additional four names on Monday. The suggested actions seem well worth following.
When Dr. Paul was interviewed in early August for the documentary A New America, he was asked his opinion on the likelihood of H.R. 1207′s passage and its chances for accomplishing his goal of ultimately abolishing the Federal Reserve. He noted that it will ultimately depend upon the American people and whether or not members of Congress will manage to slip any provisions in the bill that will only resulting in continuing to shield the Fed’s activities from scrutiny.
The moral of the story here is that whether or not the effort to full examine the Fed and ultimately rid America of this entity rests on all our shoulders, and unfortunately, the character and resolve of those we have elected to office.