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Rand Paul eyes debt-ceiling fight in Audit the Fed push

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Sen. Rand PaulRandal (Rand) Howard PaulGOP lawmaker calls for Wuhan probe to 'prevent the next pandemic' All congressional Democrats say they have been vaccinated: CNN Fauci on Rand Paul: 'I just don't understand what the problem is with him' MORE (R-Ky.) is mulling attaching his Audit the Fed legislation to a vote to raise the debt ceiling, Paul spokesman Brian Darling told The Hill.

Darling said that Paul, who is considering a 2016 presidential campaign, fully expects to get a vote on the measure in the Senate this year and that "there are numerous options to get a bill passed by itself or combined with other legislation."

"The strategy going forward will be to use regular order," Darling told The Hill. "If regular order does not work, Audit the Fed would be a great amendment to a debt-limit increase or any other piece of must pass legislation that hits the Senate floor."
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The move is a clear signal of how serious Paul is about getting a vote on the legislation that has garnered political blowback from top Fed officials. The proposal allows for increased congressional oversight at the central bank.

Fed Chairwoman Janet Yellen and other top Fed officials have maintained for years that the bill would undermine the central bank's independence and politicize its actions.

The Treasury Department will reach its borrowing limit — or hit the "debt ceiling” — around March 15. Most experts predict that Treasury Secretary Jack LewJacob (Jack) Joseph LewThe Hill's Morning Report - Biden argues for legislative patience, urgent action amid crisis On The Money: Senate confirms Yellen as first female Treasury secretary | Biden says he's open to tighter income limits for stimulus checks | Administration will look to expedite getting Tubman on bill Sorry Mr. Jackson, Tubman on the is real MORE will be able to use a series of "extraordinary measures" to keep financing the government until summer or early fall.

Rep. Thomas Massie (R-Ky.) has introduced Audit the Fed legislation in the House, where it is expected to easily pass.

It's unclear whether the measure would be able to survive in the new-GOP controlled Senate, as Paul would need to pick up Democratic support to overcome a filibuster.

Sens. Elizabeth WarrenElizabeth WarrenWarren calls for US to support ceasefire between Israel and Hamas Sanders: Netanyahu has cultivated 'racist nationalism' Tensions mount among Democrats over US-Israel policy MORE (D-Mass.) and Sherrod BrownSherrod Campbell BrownSenate Democrats offer bill to scrap tax break for investment managers Wyden: Funding infrastructure with gas tax hike a 'big mistake' Sherrod Brown calls Rand Paul 'kind of a lunatic' for not wearing mask MORE (D-Ohio) — each viewed as top progressives on the Senate Banking Committee, which has jurisdiction on the bill — have come out against the bill.

Paul's bill has 31 co-sponsors, with just one Democrat: Sen. Mazie HironoMazie Keiko HironoMore than 75 Asian, LGBTQ groups oppose anti-Asian crime bill Biden-McConnell cold war unlikely to end at White House If you want Julie Su at the DOL, don't point to her resume MORE (Hawaii).

Senate Banking Committee Chairman Richard Shelby (R-Ala.) has said that he will have a hearing on Audit the Fed.

Paul held a rally on the issue in Des Moines, Iowa, earlier this month and he has fundraised on it, too. Paul's father, former Rep. Ron Paul (R-Texas), was an early supporter of the legislation.