Trump pushes back against congressional oversight for $500 billion bailout fund
Treasury Secretary Steven Mnuchin and President Donald Trump attend briefing about the coronavirus outbreak in the press briefing room at the White House on March 17, 2020 in Washington, DC. The Trump administration is considering an $850 billion stimulus package to counter the economic fallout as the coronavirus spreads.
Drew Angerer | Getty Images
President Donald Trump on Friday wrote in a signing statement accompanying the $2 trillion stimulus bill that he believes the inspector general overseeing a $500 billion relief fund for businesses will not have as much regulatory power as Democrats had sought.
The bill includes a $500 billion fund that companies, such as the struggling airlines, can tap to support their business. The fund is overseen by Treasury Secretary Steven Mnuchin. In original drafts of the Republican Senate bill, Mnuchin had wide discretion in overseeing that money. After …continued .
[Source: CNBC News]