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This bill creates a new Government Spending Oversight Committee within the Council of the Inspectors General on Integrity and Efficiency, essentially making permanent a version of the pandemic-era oversight body that tracked emergency relief spending. The committee would be led by a Chairperson selected from among Senate-confirmed Inspectors General and would include IGs from major agencies such as Labor, Treasury, Defense, Homeland Security, and Veterans Affairs, along with a dedicated Executive Director. Its job is to detect and prevent fraud, waste, abuse, and mismanagement in "covered funds," a broad category that includes pandemic relief programs like the CARES Act and American Rescue Plan, infrastructure and semiconductor manufacturing funding, unemployment compensation, SBA loans, federal grants of $50,000 or more, and government research payments. The committee would have subpoena power (limited to five years and requiring quarterly notice to Congress), authority to hire staff and contractors, and a mandate to run a public website and issue regular reports to Congress and the President on spending risks and recommended fixes. The law would take effect September 30, 2025, and Congress has authorized $17 million per year for fiscal years 2026 and 2027 to fund its operations, with a required report on future budget needs due within a year of taking effect.

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