GOP blasts $215M cost for consumer bureau office with waterfall
By Tim Devaney – 07/02/14 | 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…
View original post 453 more words