White House Agrees to Oversight of Bailout Funds

“The White House has agreed to allow enhanced scrutiny over a massive loan program that is a centerpiece of the Senate’s $2 trillion coronavirus economic package, taking steps to address a major Democratic concern and potentially pave the way for a vote by Tuesday night,” the Washington Post reports.

“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, ‘I’ll 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.”