Biden calls for inspector general to probe stimulus loans

Presumptive Democratic presidential nominee Joe Biden is calling for an inspector general to investigate coronavirus stimulus loans given to large companies or political insiders. 

“Let me issue a warning right now to anyone who participates in a corrupt giveaway with President Trump and his administration,” Biden said in a minute-long video released by his campaign in which he pledges to appoint a non-partisan inspector general to look into the matter. 

“I will direct her to review every stimulus loan given to any big company or political insider,” the former vice president continued. 

Biden said his inspector general would have the authority to report any potential wrongdoing by “any company or executive” to the Department of Justice. 

Democrats and left-leaning groups have criticized coronavirus relief legislation, known as the CARES Act, which was signed into law last month by President Trump. 

They argue that provisions in the legislation that provided businesses with tax benefits were too broad. 

The language used by Biden is similar to Republicans’ rhetoric in 2009, when they criticized Obama administration loans under the American Recovery and Reinvestment Act during the recession. 

–This developing report will be updated.