White House agrees to allow oversight of huge coronavirus loan program as $2 trillion Senate deal ne
Source: WaPo
By Erica Werner, Mike DeBonis, Paul Kane and Jeff Stein
March 24, 2020 at 9:24 a.m. EDT
The White House has agreed to allow enhanced scrutiny over a massive loan program that is a centerpiece of the Senates $2 trillion coronavirus economic package, two people briefed on the discussions said, taking steps to address a major Democratic concern and potentially pave the way for a vote by Tuesday night.
The Senate bill allows the Treasury Department to extend $500 billion in loans and loan guarantees to try and blunt the viruss economic impact. Of that amount, $425 billion is supposed to go to businesses, cities, and states. Another $50 billion would go to passenger airlines, $8 billion more for cargo airlines, and an additional $17 billion would be directed for firms that are deemed important to national security.
President Trump has already said where he wants some of the money to go, promising assistance to cruise ship companies, for example, that have operations in Miami. And when he was asked Monday evening who would perform oversight of the program, Trump responded Ill be the oversight.
But during closed-door negotiations on Capitol Hill, White House officials have agreed to allow an independent inspector general and an oversight board to scrutinize the lending decisions, said the two people, who spoke on condition of anonymity to discuss the status of deliberations.
Read more: https://www.washingtonpost.com/us-policy/2020/03/24/trump-coronavirus-congress-economic-stimulus/
bucolic_frolic
(43,281 posts)Two sets of books, independent rubber stamps. Trump should have NO input into these lending facilities.
2naSalit
(86,775 posts)mountain grammy
(26,648 posts)We've already seen how they react to oversight..
hangaleft
(649 posts)I dont think Dems should sign off on any deal that confers upon Trump any say as to how those funds are spent. Oversight or not. No way, no how.
Tarheel_Dem
(31,239 posts)he & the fruit of his fetid loin won't be eligible.
Fullduplexxx
(7,870 posts)Firestorm49
(4,037 posts)The King of Bankruptcy wanted to be in charge of how the $2T was to be spent! Thank somebody, anybody, that this half baked scheme was derailed. What a great way to start the day - reeling in laughter.
machoneman
(4,010 posts)can overide the IG's decisions. Mnuchin and his entire staff to stay out 100% of all loan decisions. Only can offer advice.
No Republican Senate majority nor House minority can overide the IG either. And no Trump property here or abroad may partcipate, nor any shell company he already has or may form to skirt said rules.
Even then..........I still don't trust him or any Republican to effectively manage this program. I do hope we Democrats stick to our guns and hold this fiasco up until WE get what WE want!
iluvtennis
(19,871 posts)duforsure
(11,885 posts)And shouldn't believe him now. He and munchin will find a way to get a huge payoff from this, especially trump. He's a serial liar and a crook, deserving of nothing from this now.
Varaddem
(432 posts)How the hell do you think We think he can be held to account?We cant even investigate him!
After Roberts gave them unlimited personhood, maybe we should give the corporations $1200 each and a pair of bootstraps. The market is perfect dammit!
McConnell laughed on Hannity about blocking Obama judges. His oath to a corrupt leader supersedes his oath to America. Maybe some of that shit shouldve been brought up.
Bluethroughu
(5,186 posts)"Give the corporations$1200 and a pair of boot straps. The market is perfect dammit!"
RussBLib
(9,035 posts)A $500 billion, unsupervised, slush fund.
getagrip_already
(14,837 posts)don jr, ivanka, and jared will be the commission.
MLAA
(17,327 posts)...just as soon as they figure out where to buy a package of multiple length straws 😬
captain jack
(316 posts)yonder
(9,673 posts)notdarkyet
(2,226 posts)beachbumbob
(9,263 posts)dhill926
(16,355 posts)rocktivity
(44,577 posts)rocktivity
Owl
(3,643 posts)LastLiberal in PalmSprings
(12,591 posts)Commission: "Oh gosh, pResident Trump, we'd really prefer it if you didn't give yourself $5 billion because 'my hotels are important to the economic well-being of America.' "
Trump: "Go fuck yourselves. Just give me the money."
Commission: "Okay. Sorry to bother you."
Mr.Bill
(24,319 posts)Dios Mio
(429 posts)anyone in this admin with a vague word like oversight. Dump has overseen the wrecking of the USA.
karin_sj
(812 posts)They'll find a way around this
Pepsidog
(6,254 posts)gab13by13
(21,402 posts)KPN
(15,649 posts)"oversight"! Americans need to all understand and get that through their heads! That they actually did that. They actually tried to grift mega-billions of our taxpayer dollars at the expense of our lives! They tried to legalize stealing our money at the expense of our lives!
This is today's Republican Party folks! In a nutshell, if we're not with them, then you're against them and they would just as soon see you gone, extinguished, the fewer of us the better. Oh, and about their brain-dead supporters who inadvertently die, oh well, there's always collateral damage in war, not to mention the risks of being a soldier, a patriot in the first place. The human cost of war .... suckers!
Wellstone ruled
(34,661 posts)He is just a bloviating puppet from here on out. De-Facto President Pelosi just drew and quartered her prey.
pandr32
(11,611 posts)pandr32
(11,611 posts)who do not sign NDA's and who will keep the media informed (not just Faux).
keithbvadu2
(36,906 posts)agrees to allow oversight
How magnanimous of Dictator Donald.
slumcamper
(1,606 posts)It sounds so nice, but so what? We know what is going to happen.
Mueller and countless House committees, not to mention IMPEACHMENT, have utterly failed to hold this hellbeast and his so-called administration accountable. To the very last one, these assholes have run roughshod over any and all oversight. Called out countless times, investigated, subpoenaed, suedits playbook is to thumb its nose, resist transparency and obstruct everything under the guise of executive privilege, and attack the oversight/overseers!
Our side is NOT WISE to accept their word. Time and time again, it has proven worthless. How is this time different? It isnt, and the MAGAts will be laughing out loud and cheering wildly, We sure OWNED the libs!
This is about the most naïve and ridiculous falling-into-line compliance I've ever seen. The mistakes of 2008 aside, our leadership seems to have learned nothing. I hope I'm wrong; but that's how it LOOKS--and that matters.
I'm SO fed up with our inclination to play nice...