Yellen Sees Rising Risk of Stimulus Fraud Without Funding Fix From Congress
- Treasury asking congressional leaders for funding flexibility
- States, localities got $350 billion in Covid rescue plan funds
Janet Yellen
Photographer: Yuri Gripas/Sipa/Bloomberg
This article is for subscribers only.
US Treasury Secretary Janet Yellen warned congressional leaders that their action is needed to strengthen her department’s dwindling ability to catch potential fraud in federal stimulus programs for state and local governments.
Yellen, in a letter sent Friday and obtained by Bloomberg News, reiterated the department’s request for administrative funding flexibility and highlighted concerns from oversight watchdogs about its “ability to monitor waste, fraud and abuse” related to several key programs in the $1.9 trillion American Rescue Plan.