Rep. Thomas Massie (R-Ky.) didn’t waste any time in introducing a bill to Audit the Fed. Yesterday, the first day of the 114th Congress, Massie introduced H.R. 24, the Federal Reserve Transparency Act of 2015 with 64 bipartisan original cosponsors. The legislation is identical to the Audit the Fed bill that overwhelmingly passed the House of Representatives last year (333-92)—but ultimately Harry Reid refused to bring it to the Senate floor.

Hours after the new members of the 114th Congress were sworn in on Tuesday, Rep. Thomas Massie reintroduced the Federal Reserve Transparency Act (H.R. 24), which, if passed, would require the United States' central bank to open certain information to the Government Accountability Office, currently excluded from audits.

With a new Congress just weeks away from being seated, support is already beginning to build on Capitol Hill to audit the Federal Reserve.

Last week, Republicans won control over the Senate in the mid-term elections. I’m personally glad that Harry Reid is no longer Senate Majority Leader but I’m still skeptical on whether Republican leadership will be serious about cutting spending. I hope that they prove me wrong.

For those who follow the arcane world of monetary policy, the U.S. Federal Reserve remains a shadowy institution with immense power, yet shockingly little oversight. Despite its 100 year history, the Fed has never been fully audited, and although a bill to do that very thing is languishing in the Senate right now, Harry Reid shows little inclination to bring it to a vote.

I don’t often quote scripture in service of a point, but when I heard that the Justice Department is pursuing legal action against many of the world’s largest banks, charging them with illegal currency manipulation, I couldn’t help but think about this line from Matthew.:

Good news!

A no-brainer issue that should unite practically everyone is auditing the Federal Reserve. Some may find it hard to believe that the central bank of the United States has never been fully audited. The public and even Congress is left in the dark about what goes on behind closed doors at the Fed. This severe lack of transparency is troubling since the central bank has so much power over the economy and our lives.