Mnuchin Says Congress Must Redirect $455 Billion, Not Biden
- Treasury secretary demanded Fed return emergency lending funds
- Move would make relief money unavailable to Biden team
Steven Mnuchin
Photographer: Susan Walsh/APThis article is for subscribers only.
Treasury Secretary Steven Mnuchin on Tuesday contended that he was required by law to move $455 billion in unspent emergency pandemic relief money into an account that would lock it away from President-elect Joe Biden’s administration.
“It is my intent to completely follow the law, and the law requires the amounts transferred,” Mnuchin said during a Senate Banking Committee hearing in Washington.