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McHenry Introduces Legislation to Ensure Transparency & Accountability of Democrats’ Partisan Spending Spree

Washington, Apr 14 -

Today, the Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), introduced a new bill to ensure oversight of the financial services portions of Democrats’ partisan spending package, the so-called American Rescue Plan. Despite the long list of non-COVID related priorities included in the package, there were no additional transparency requirements for the trillions in new federal spending. 

As Democrats continue their unfettered spending, increased accountability—as provided by Ranking Member McHenry’s legislation—will be necessary to protect Americans’ hard-earned tax dollars from waste and abuse.

“Just over a year ago, we came together to pass the bipartisan CARES Act, which included significant oversight provisions to protect taxpayer dollars,” said Republican Leader McHenry. “But now that Democrats have decided to go-it-alone, they no longer believe in being accountable to the American people. The so-called COVID relief bill was just the beginning of their taxpayer funded spending spree. As Democrats muscle through another multi-trillion-dollar spending package with no oversight provisions, Republicans will continue to fight for transparency.” 

Background: 

Ranking Member McHenry’s legislation would extend the authority of the oversight entities created in the bipartisan CARES Act, including the Special Inspector General and Congressional Oversight Commission, to oversee the implementation of American Rescue Plan Act of 2021. The legislation would also require the Secretary of Housing and Urban Development to testify before Congress alongside the Treasury Secretary and Federal Reserve Board Chair, at the quarterly hearings mandated by the CARES Act.

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