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One step closer: 'Audit the Fed' bill advances in the House

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Sen. Rand Paul and Rep. Thomas Massie have introduced "audit the fed" legislation, which has cleared the House Oversight Committee (Photo by Drew Angerer/Getty Images)

A long sought after action by Libertarians is one step closer to becoming a reality, as Rep. Thomas Massie’s (R-KYwhen ) Federal Reserve Transparency Act of 2017 (H.R. 24) is one step closer to being passed by the House.

The bill soared through The House Committee on Oversight and Government Reform after it was passed by voice vote with just around 30 minutes of debate. Libertarians and Republicans have been very supportive of such bills in the past, including the Federal Reserve Transparency Act of 2012 - a creation of then Texas congressman Ron Paul - which was overwhelmingly passed in the House with a bipartisan vote.

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