Melissa Quinn / @MelissaQuinn97 / / 9 comments
A new report from the Export-Import Bank’s independent watchdog questions whether a five-year lease of a “luxury vehicle” that cost the agency more than $75,000 qualifies as “essential” to the bank’s mission. According to an audit conducted by the Export-Import Bank inspector general and released last month, the agency entered into a $75,622 five-year lease of a luxury vehicle intended to transport bank Chairman Fred Hochberg and staff. The bank was required to pay $1,131 per month over a period of 58 months, which included the cost of insurance.
The audit doesn’t describe what kind of vehicle Ex-Im leased. According to the watchdog, Ex-Im’s Office of Contracting Services provided the inspector general with justification for why the vehicle was leased. However, the agency watchdog said the office’s reasoning “did not address why this particular vehicle was ‘essential’ to the bank’s mission.” The bank did not return The Daily Signal’s request for comment.....To Read More
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