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House Republican leaders failed this week to muster support to push vote off once more
The legislation is also to report to Congress if the administration obstructs its efforts.
Schiff said the American people deserve to know more about this scheme and where the money is going.
Measure movement reflects frustration among some G.O.P. lawmakers about Congress ceding authority over trade matters to White House and concern that voters are being hurt by levies
Three Republicans crossed party lines to defeat effort and clear way for tariff challenges
Measure will force Republicans to go on record backing tariffs or angering the president
Schiff said the independent audit would help deliver answers.
Rubio conceded U.S. officials were dealing with individuals involved in unacceptable things but insisted the arrangement was temporary.
Casten warned without clear legal authority and formal controls the arrangement could amount to a fraudulent conveyance or illegal transfer of property.
Senator Jeanne Shaheen warned America’s dollars are still going to drug runners and significant organizations.
The proposed legislation calls for the Government Accountability Office to begin an audit within 30 days and issue findings to Congress within 90 days.
The administration says its handling of the oil money is intended to prevent creditors from trying to seize the funds.
The administration countered the money never technically enters U.S. hands.
Rubio said they are in the transition and stabilization phase.
Rubio said their policy is by no means to leave in place something permanent that is as corrupt as described.
Schatz said it is not obvious to him that they have permission to establish an overseas account.
Schatz said he does not think they know what their plan is.
Casten noted comparable cases of the United States seeking to control foreign oil such as in Iraq were backed by congressional authorization and U.N. Security Council approval.
Administration spending to advance foreign policy objectives outside congressional scrutiny has led to trouble in the past.
Democrats said it appeared there was no legal underpinning for how the administration was collecting banking or disbursing the money.