WATCH: Coronavirus relief fund spending oversight

The following is a report first publishes shortly after Covid-19 funding was approved in Spring 2020.

With more than two trillion of your tax dollars going out the door for coronavirus economic relief, and plenty of goodies snuck in for noncoronavirus causes, we took a look at who will be flagging waste, fraud and abuse.. and how much that’s costing.

Congress approved a multi layered oversight system, similar to one established after the 2008 financial crisis as part of the Troubled Asset Relief Program, or TARP. By the way, TARP originally got $700 billion tax dollars but was reduced to $475 billion.

Three primary groups will watch over the coronavirus spending.

First, Inspectors General. A special Treasury Department Inspector General for Pandemic Recovery, which gets $25 million dollars, will look after the Treasury Department’s $500 billion loan fund.

IGs from across government will join in a new oversight board with a budget of $80 million dollars.

And existing IG offices will receive $118 million more.

Second, Congress will create a special 5-member oversight committee.

Third, the Comptroller General – essentially the federal government’s chief accountant, also gets new oversight do states handing out the extra unemployment payments. It’s not clear how much those will cost.

So far, nearly $250 million tax dollars is committed to policing the aid package, but officials say that’s likely to increase.

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5 thoughts on “WATCH: Coronavirus relief fund spending oversight”

  1. WHO TO PICK ? Whole ($2.2 T) has sooo much graft potential. I got a list off one of my Brooklyn websites. Several folks had copy of the “Bill and exposed the “Nancy” stuff. I got sick reading it. Of course Congress (both houses) got their licks in ( $ 34 M) ! We all know about ( $ 200 T – I’ll repeat ($200 T) to USPO pension fund ; ( $ 35 M) to Kennedy Center ; covered up abortion funding “Primary Health Care”( $ 1.3 T). BUT did you know : Billions ($ 300) to Endowment for Humanities ; cleaning supplies for Capitol bldg. ($ 25 M) ; ( $ 720 M) to Social Security BUT only $ 200 M. of that is to help people ; Smithsonian for additional salaries ($ 7.5 M.) ; ( $ 25 M.) add’l. salary for House of Reps. ; ($ 9 M) to misc. Senate expenses ; ( $ 40 B.) to “Take Responsibility to Workers and Families Act” ; ( $ 1 B.) for more “Obamaphones” ???) ; ( $ 9.5 B) for “higher education” ; ( $ 6.5 M) to “Wage and Hour” division ; **( 25 B) ** toward “Transit Infrastructure” (Note-isn’t this for Part IV bill ???) ; ( $ 5 M) Office of Inspector General ; they can’t forget ( $ 10 M) for “Susan Harwood training grants”- WHO /WHAT) ??? Oh my, I’m sick again – have to stop now to see IF I’m on the list !!

  2. it would be far more efficient and expedient to give EVERYONE in the country an appropriate dose of hydroxychloroquine w or w/o a z pack! Protect heal and employ. DONE

  3. Having anyone in government looking for spending oversights is just another waste of money.
    In Maryland I always enjoy the person in front of me at the checkout who has designer clothes, shoes, pocketbook, iPhone, manicure, hair perfect and then they whip out the Independence card (food stamps) . Then you follow them out and they get into a new expensive vehicle parked in a handicap spot and drives away. Always seems a little suspicious. Same for the people in section 8 housing that walk their kids to school and all of them have the best of the best clothes and shoes and each kid has a iPhone. Again doesn’t seem to ring true.

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