Congress locks Trump oversight into $2.2 trillion package

President Donald Trump declared that "I'll be oversight" as lawmakers were in final days of drafting what became a $2.2 trillion rescue plan for American businesses. In end, Congress ensured that won’t be case. legislation, designed in part to help businesses and corporations hammered by closures due to coronavirus pandemic, creates multiple layers of accountability for billions of dollars in loans, grants and direct cash that will soon flow from federal government.

House is expected to pass it Friday and send it to Trump for his signature.

new oversight system will test relationship between White House and Congress, which frayed after Democrats won House and deteriorated severely during Trump's impeachment as officials flouted requests for witnesses and documents.

Trump’s assertion of responsibility for coronavirus funds came Monday evening as his Treasury secretary, Steven Mnuchin, was on Capitol Hill crafting pack in late-night meetings with Senate Democratic Leer Chuck Schumer. Senate Majority Leer Mitch McConnell, R-Ky., and House Speaker Nancy Pelosi, D-Calif., h each introduced ir own proposals, and Democrats said Republican bill wasn’t strong eugh, arguing that it would create a “slush fund” for corporations.

In end, bipartisan final pack incorporated much of what Democrats wanted, creating a trio of watchdogs, plus or checks, to try and ensure money isn’t misused. It establishes an oversight board me up of inspectors general, called Pandemic Response Accountability Committee, stands up a separate dedicated inspector general position at Treasury Department and creates a new committee of experts that reports to Congress.

Or accountability measures include more money for watchdogs in multiple federal ncies and requirements that ministration file detailed reports that analyze flow of cash as it happens.

“Whenever you are appropriating over $2 trillion dollars it’s important to ensure money is spent way it’s intended,” says Michigan Sen. Gary Peters, top Democrat on Senate Homeland Security and Governmental Affairs Committee. Peters helped negotiate oversight provisions with Schumer and GOP chairman of panel, Wisconsin Sen. Ron Johnson.

“This needs to be outside of politics, that’s only way it has any credibility,” Peters said.

Both Peters and House Oversight and Reform Chairwoman Carolyn Maloney, D-N.Y., suggested lawmakers could consider ditional oversight provisions when Congress passes more legislation to deal with pandemic.

Maloney praised ecomic relief bill, but said in an emailed statement said that Democrats “think it could go even furr to protect American taxpayers, and we are continuing to examine ditional options."

Watchdog groups that track government spending and oversight said bill wasn't perfect, but provides essential resources as pandemic worsens. Sean Moulton, a senior policy analyst at Project On Government Oversight, said his group is encourd that re is “more than one lens of accountability” for businesses that will be receiving money.

“We’re pleased that y aren’t putting all of ir oversight eggs in one basket,” Moulton said.

Lisa Gilbert, vice president of legislative affairs for consumer vocacy group Public Citizen, said she believed that Trump’s declaration that he could personally oversee process likely ensured that stronger provisions were included. “It showed his hand,’’ Gilbert said.

bedrock of new oversight is Pandemic Response Accountability Committee, which will be me up of independent inspectors general. Modeled after a similar board created to monitor 2008 Troubled Asset Relief Program that rescued banks, panel will have ability to obtain documents, coordinate audits and identify waste and abuse. board will report what y find on a central website.

Separately, Trump will appoint a special inspector general inside Treasury Department who will be able to inspect records and review how money is doled out. That position will be confirmed by Senate - a process that could take weeks if chamber stays out until April 20, when senators are currently scheduled to return.

Democrats also secured creation of a Congressional Oversight Commission that will oversee Treasury Department. Experts on panel will be appointed by House and Senate leers. Maloney said “ ideal makeup” of panel would be a diverse set of experts “to complement or oversight bodies established under bill.”

legislation also includes a provision ensuring that bailout funds are t given to companies where a federal official, including president, has at least a 20 percent interest. Langu directed at airlines would block stock buy-backs and limit executive compensation.

Oversight groups fret that legislation doesn’t give inspector generals panel subpoena power. y also te that Trump will be one to appoint Treasury's inspector general, a potential wild card.

“It’s all very personality driven,” said Scott Ellis of group Taxpayers for Common Sense. “(Inspectors general) can be very effective and t so effective.”

Negotiations on bill churned until end, with Democrats complaining in hours before vote that bipartisan langu requiring government to publish weekly lists of companies and entities that gain financing through bailout funds was left out. Without this langu, this information could have been kept secret from public, Democrats argued. langu ended up in final version.

And though end product was bipartisan — Senate vote was 96-0 — two parties h sharp disagreement. Republican Sen. James Lankford, R-Okla., said on Senate floor before bill was passed that Democrats "wanted to make sure re was great transparency because y didn’t trust Trump ministration. So y built in an inspector general and ditional people to watch Treasury through process.''

Ohio Sen. Sherrod Brown, senior Democrat on Senate Banking Committee, said that Democrats pushed for provisions to put workers first.

Lawmakers need to “make sure money actually ends up in pockets of workers, t CEOs,’’ Brown said.