Conservative group calls for careful oversight of Treasury in stimulus

Rachel Bovard, senior director of policy at the Conservative Partnership Institute, called for greater oversight of how the U.S. Treasury and Secretary Steven MnuchinSteven Terner MnuchinThe Hill's Coronavirus Report: BIO's Michelle McMurry-Heath says 400 projects started in 16 weeks in biotech firms to fight virus, pandemic unemployment total tops 43 million IRS faces obstacles with remaining stimulus checks On The Money: GOP turning against new round of ,200 rebate checks | Millions of Americans frustrated by delayed unemployment checks | Senate votes to give coronavirus relief program more flexibility MORE implement part of the $2 trillion coronavirus stimulus bill.

Bovard added the bill, which was passed by the House on Friday and is expected to be signed by President TrumpDonald John TrumpFederal plan to contain Washington protests employs 7,600 personnel: report GOP Rep calls on primary opponent to condemn campaign surrogate's racist video Tennessee court rules all registered voters can obtain mail-in ballots due to COVID-19 MORE later, favors corporate interests over workers.

“We just made Steven Mnuchin the most powerful treasury secretary in modern history, maybe in all of history,” she said. “This is a guy who is now running a jobs program who has never created a job in his life.”

“I think there’s going to need to be a lot of oversight done for where this money goes, but again I think it just shows you the corporatism inherit within the Republican party and a lot of the establishment Democrats as well; it wins out every time against the American workers and families, and it just did again,” she said.

As part of the bill, the Treasury Department will manage a $500 billion fund intended to dole out loans and loan guarantees to companies. Democrats pushed for some restrictions on the aid, including appointing an inspector general to provide oversight.

The bill also provides an extra $600 a week in unemployment benefits for four months.

Mnuchin came under fire after telling CNBC in an interview on Thursday that the jobless numbers “right now are not relevant" because the government was now providing relief.

Data on Thursday showed weekly unemployment claims surging to a record of above 3 million.