Crapo picked to oversee CARES Act

WASHINGTON D.C. (KIFI/KIDK)-Idaho Senator Mike Crapo has been selected as Chairman of a Senate Committee charged with oversight of the historic Coronavirus Aid, Relief, and Economic Security Act (CARES).

Crapo is Chairman of the Senate Banking Committee. He played a critical role in shaping many of the provisions of the CARES Act.

"This crisis has had a major impact on the physical and economic health of our country, and Congress has taken bold and dramatic steps to confront it," said Crapo. "Altogether, the CARES Act amounts to trillions of dollars in aid to combat the devastating economic toll this pandemic has taken. The Act has provided critical lifelines to individuals, families and businesses across the country who have been devastated by the coronavirus pandemic. We must protect those same taxpayers from any forms of waste, fraud or mismanagement, and I am honored to coordinate that oversight effort in the Senate as Banking Committee Chairman."

Senate Majority Leader Mitch McConnell said Crapo would work closely with the chairs of other committees to oversee enactment of the legislation.