Geee Posted July 3, 2014 Share Posted July 3, 2014 The Hill: Republican lawmakers blasted renovation plans for the Consumer Financial Protection Bureau’s headquarters after an inspector general report said costs could top $215 million. Federal Reserve inspector general Mark Bialek wrote that a "sound business case" cannot be made for renovating the building the agency rents at 1700 G St. NW, near the White House. When first announced four years ago, the renovation project had a $55 million pricetag. By 2012, the CFPB revised the projected cost to $95 million and again last year raised the estimate to $150.8 million. The CFPB's renovations, which include a four-story glass staircase, two-story waterfall and a sunken garden, have angered House Republicans who say the agency is being wasteful with taxpayers' money. “When they passed the Dodd-Frank Act, Democrats in Congress and the White House made the CFPB unaccountable to taxpayers and to Congress," House Financial Services Committee Chairman Jeb Hensarling (R-Texas) said in a statement. "We’re seeing the results of this dangerous unaccountability today in a Washington bureaucracy that is running amok, spending as much as it wants on whatever it wants,” he continued. “It’s outrageous.” Link to comment Share on other sites More sharing options...
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