Democrats Win Stimulus Oversight, Fearing Repeat of TARP Waste
- Critics worry scrutiny will slow cash with minimal protection
- Warren says stimulus monitors will have ‘real teeth’
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Democratic lawmakers scored a key political victory in the record $2 trillion stimulus bill by securing independent oversight of some $500 billion for distressed businesses, but the extra scrutiny may slow the flow of cash.
The original proposal from Senate Majority Leader Mitch McConnell would have given Treasury Secretary Steven Mnuchin nearly unchecked authority over the money. “I’ll be the oversight,” President Donald Trump said Tuesday, a statement met with mockery by Democrats.