Mick Mulvaney wants to cut tens of millions of dollars from the watchdog's spending
Despite a zero-dollar budget request for the second-quarter of the 2018 fiscal year, the Consumer Financial Protection Bureau is still looking at ways to trim its budget, with basement offices and shared desks among the proposals.
Citing an internal cost-savings analysis it obtained, Bloomberg News reported that CFPB Acting Director Mick Mulvaney is seeking to reduce the consumer watchdog’s spending by tens of millions of dollars.
“All options are on the table as we work to make the bureau more efficient and effective," CFPB Chief Communications Officer John Czwartacki said. Czwartacki was uncertain whether Mulvaney had reviewed the proposal. He said a final decision is yet to be made.
According to the report, the analysis proposes several means of cutting down on expenses through the next two years. The agency could save up to $18.3 million if employees that do not have a business need to be in the office were required to stay home. The watchdog can see another $18.3 million saved if workers shared desks.
Other proposals include the addition of 70 basement workspaces in the agency’s main Washington location, with potential savings pegged at $16.6 million, and the relocation of staff to Dallas, which would cut $2.4 million off the budget.
