Coronavirus

Pandemic Relief Oversight Bodies Not Yet Fully Functional

Pandemic Relief Oversight Bodies Not Yet Fully Functional

Three U.S. pandemic relief oversight boards haven't completely started their work, even though the country has spent over 50 percent of economic rescue funds Congress ratified. A congressional panel doesn’t have a chairman or personnel, a special inspector general only recently took office and President Donald Trump released an official who was going to head up an accountability committee, Bloomberg reported.

The Congressional Oversight Commission, in one case, is meant to involve both parties with two members the Republicans select, two the Democrats choose and a chairman who hasn’t been named yet by Mitch McConnell, the Senate majority leader, and Nancy Pelosi, the House speaker. The officials have not had yet the ability to come to a consensus on the chairman.

Brian Miller, the special inspector general for pandemic recovery who was sworn in June 5, was selected by Trump and served as a lawyer in the White House in the past. U.S. Sen. Sherrod Brown (D-Ohio) claimed that Miller had been “evasive” as well as “unwilling to condemn” the president for releasing multiple inspectors general in testimony before a panel in the Senate.

Additionally, Trump had dismissed Glenn Fine, who was the individual set to head up the Pandemic Response Accountability Committee. The move was said to be the earliest removal of inspectors general that he deemed to not have enough loyalty.

As it stands, an approximation from an organization called the Committee for A Responsible Federal Budget claims that roughly $2 trillion in stimulus funds have been doled out.

In separate news, the newest COVID-19 stimulus package will reportedly have to wait until July. At that time, Congress comes back from recess.

The House of Representatives and the Senate are believed to be back in Washington on July 21, which is under two weeks prior to the time that some CARES Act efforts are scheduled to expire like the $600 weekly jobless payments.

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About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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