Senators Propose New Committee to Expand Oversight of Federal Spending, Combat Fraud
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Sen. Mitt Romney and Sen. Gary Peters introduced legislation to create a new Government Spending Oversight Committee to oversee federal spending and prevent fraud.
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The committee would succeed the Pandemic Response Accountability Committee, which has helped uncover an estimated $1.95 billion in pandemic-related fraud losses so far.
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The new committee would continue oversight of pandemic funds and also expand scope to other federal spending like SBA loans, unemployment insurance, and large recent spending programs.
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The committee would leverage data analytics tools used to uncover pandemic fraud more broadly to support investigations and audits of federal funds.
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Officials like the Justice Department IG and Government Accountability Office Comptroller General expressed support that the committee will help combat waste, fraud and abuse to protect taxpayer dollars.