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Trump says administration will not comply with oversight of $500b corporate stimulus.

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Trump signed the $2 trillion relief bill, but says he won’t comply with key transparency measures in the $500b corporate bailout

 

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In a statement released early Friday evening, Trump announced that he had signed into law the Coronavirus Aid, Relief, and Economic Security or CARES Act, a relief package aimed at mitigating some of the economic fallout caused by efforts to allay the spread of Covid-19.

 

That bill also establishes a Special Inspector General for Pandemic Recovery (SIGPR) within the Treasury Department to audit and investigate half a trillion dollars in loans for large businesses. In his signing statement, Trump said that this provision raises “constitutional concerns,” adding that his administration would not comply with such an official’s request for documents.

 

“I do not understand, and my Administration will not treat, this provision as permitting the SIGPR to issue reports to the Congress without the presidential supervision required by the Take Care Clause,” part of Article II Section 3 of the Constitution that states a sitting president “shall take care that the laws be faithfully executed.” This seems to suggest the administration believes it is the president’s duty and not that of an inspector general to ensure the funds are distributed as the law intends.

 

The special inspector general, as authorized within the bill, would be able to request information from government agencies and report on failures to comply with those information requests. In his signing statement, Trump essentially stated that he will not let such reports reach Congress without his approval, which many fear directly undermines the provision’s goal of maintaining transparency in how that fund is handled.

 

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I wonder if they can simply not appropriate the $500B for businesses until this has all been sorted out. Or is that not possible once the bill is signed?

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I was going to post in the deal thread that I didn't think it would matter if Dems got an oversight concession, or even if they barred Trump's businesses from utilizing the bailout.  Who the hell is going to stop him? 

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29 minutes ago, Rogue said:

I was going to post in the deal thread that I didn't think it would matter if Dems got an oversight concession, or even if they barred Trump's businesses from utilizing the bailout.  Who the hell is going to stop him? 


The Supreme Court stopped them from altering the census. I’m sure the House could sue Treasury and leave it up to the Supreme Court if they had to.

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1 minute ago, Starkiller said:


The Supreme Court stopped them from altering the census. I’m sure the House could sue Treasury and leave it up to the Supreme Court if they had to.

This is what will likely happen, and then of course he will scream from the rooftops that the dirty Dems are trying to kill American business all to keep him from being re-elected. It’s a broken record at this point. 

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If Congress is really "unified" over this, then they should repeal the bill on Monday morning, followed by passing a new bill that is identical but without the $500B corporate bailout part.

Edited by abenjami

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25 minutes ago, abenjami said:

If Congress is really "unified" over this, then they should repeal the bill on Monday morning, followed by passing a new bill that is identical but without the $500B corporate bailout part.


They aren’t unified and the GOP doesn’t care...

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2 hours ago, Rogue said:

I was going to post in the deal thread that I didn't think it would matter if Dems got an oversight concession, or even if they barred Trump's businesses from utilizing the bailout.  Who the hell is going to stop him? 

Hopefully someone with a bullet to his brain.

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3 minutes ago, heyitsmeallen said:

They are waiting on their talking points. 

 

Yeah, no communique has been issued from the Qremlin yet.  I was trolling them.

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