Ted Cruz and Steve Mnuchin probed by Special Inspector General for Pandemic Recovery: report

Actions taken by Republicans during the final days of the Trump administration are under investigation by Special Inspector General for Pandemic Recovery Brian Miller, Bloomberg News reported Monday.

"A federal watchdog is looking into former Treasury Secretary Steven Mnuchin's decision to roll back the U.S. Federal Reserve's emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress. The Special Inspector General for Pandemic Recovery is also inquiring into Texas Republican Senator Ted Cruz's role in persuading the central bank to expand the eligibility rules for the Main Street Lending Program to make it easier for oil and gas companies to apply for the low interest rate loans," Bloomberg reported.

The existence of the investigations was revealed in the Special Inspector General's quarterly report.

"The investigations, led by Brian Miller -- the special Inspector General in charge of overseeing the Treasury Department and Federal Reserve's response to the pandemic -- could shed more light on Mnuchin's decision and legal basis for winding down the programs, which Democrats say was politically motivated," Bloomberg reported. "The probes mark some of the biggest moves yet for Miller, a Trump appointee, who has said he struggled to begin his oversight work since he was confirmed by the Senate in June because of technical challenges and the time needed to hire experienced staff."

Read the full report.