From the Document: "The Pandemic Response Accountability Committee (PRAC) supports independent oversight of '$5 trillion' worth of relief funds provided by Congress to respond to the coronavirus pandemic. This is an unprecedented amount of money--six times what was spent to recover from the financial crisis of 2008-2009--and most of the funds were disbursed quickly. These factors put the money at a higher risk for fraud, so the PRAC has worked with dozens of Inspectors General across the federal government to examine whether it was spent correctly and reached those it was intended to help. Together, we have issued more than '275 oversight reports' that reveal common challenges facing agencies across major relief programs like unemployment insurance and loans to small businesses. Congress and leaders across federal agencies need to know what programs are highly susceptible to fraud during a crisis like the pandemic. In some cases, agencies implemented corrective actions. In other cases, Congress and agency leaders need to take action to reduce the possibility of fraud. One of the PRAC's primary roles is to provide an objective, fact-based answer to this question: Have the unprecedented levels of pandemic spending been effective? And if not, what needs to change? We wrote this report to spark discussion to help answer that question, highlighting the major lessons we and our partners have found in our oversight of pandemic relief and recovery programs. We intend for this to be a living document and will update this report as the PRAC and our partners' findings lead to new lessons."
Pandemic Response Accountability Committee
Pandemic Response Accountability Committee: https://www.pandemicoversight.gov/