Mnuchin stops Biden from spending money like a drunken sailor. Mnuchin plans to move $455B in coronavirus relief out of Biden’s reach. Knowing that Biden might act as if it was the Obama administration 2.0, 455 billion was moved to the General Fund. That way Congressional approval would be needed to access it.
So if Joe wants it to go to say free college, or undocumented immigrants, or the green deal, odds are he would not get it. What a smart move. Democrats are crying the blues.
Democrats quickly condemned the move, with Bharat Ramamurti, a former adviser to Sen. Elizabeth Warren, who now serves as a member of the congressional commission charged with overseeing the funds, calling it “illegal.”
“This is Treasury’s latest ham-handed effort to undermine the Biden administration,” he tweeted Tuesday. “The good news is that it’s illegal and can be reversed next year. For its part, the Fed should not go along with this attempted sabotage and should retain the CARES Act funds it already has.”
A Treasury spokesperson, however, rejected that analysis and said Mnuchin’s decision was legal under the CARES Act, which provided the original funding.
Republicans on the Senate Banking Committee applauded Mnuchin, saying that he was following both the law and Congress’ intent.