Spotlight on Oversight A member of the Oversight and Government Reform Committee, Rep. Welch distinguished himself during his first term by writing legislation that closed a multi-billion dollar contractor fraud loophole. In recognition of these efforts, President Obama invited Welch to take part in the announcement in March 2009 of a major overhaul in government contracting procedures.

"Government works best when it operates transparently and is subject to strict oversight. Following an era during which these principles were abandoned, it has become more important than ever for Congress to ensure that the federal government is operating effectively, efficiently and accountably. My work on the Oversight and Government Reform Committee has focused on ensuring that there is a cop on the beat and that taxpayer dollars are being spent as intended – a role that has grown all the more important in the wake of the financial collapse of 2008. As we rebuild our economy, I am working to ensure that recovery efforts are carried out in a transparent manner – free from fraud and wasteful spending."

Rep. Welch's Recent Work on Oversight

Welch cosponsors bill to protect employee privacy on social media sites

July 24, 2012

Rep. Peter Welch today cosponsored legislation to curb the growing practice of employers requiring prospective or current employees, as a condition of employment, to provide access to password-protected social media accounts like Facebook and Twitter. 

The Password Protection Act of 2012 (H.R. 5684) would prohibit compelling or coercing employees to provide access to data stored in private accounts.

Read More

Bennington Banner: 'Vt. retailers point up ‘swipe fee’ deal’s flaws'

July 24, 2012

Small Vermont retailers are finding fault with a proposed settlement between Visa, MasterCard and several large banks and a group of retailers over credit card swipe fees.

Vermont Retail Association Executive Director Tasha Wallis said Vermont retailers, like larger retailers including Walmart and Target, are opposed to a $7.25 billion settlement in an antitrust case against the card companies and banks. A lawsuit was filed b... Read More

CNN: 'Pressure mounting for Libor jail terms'

July 23, 2012

It's not just banks feeling the heat in the Libor interest-rate-fixing scandal. As public outrage grows, observers are pressuring law enforcement to ensure that the individuals involved end up behind bars.

Last month, British banking giant Barclays (BCS) admitted that its traders had colluded with those at other banks to manipulate the London Interbank Offered Rate, or Libor, a key benchmark for trillions of dollars worth of loans and derivatives worldwide.

In response, a gr... Read More

New York Times: 'For UBS, a Record of Averting Prosecution'

July 20, 2012

As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record of the Swiss banking giant UBS.

At UBS, a series of immunity, nonprosecution and deferred prosecution agreements in recent years — evidently the government's preferred approach to corporate crime — seems to have had scant, if any, deterrent effect. "It's depressing," Represen... Read More

Rutland Herald: 'Welch: Prosecute Libor culprits'

July 16, 2012

Rep. Peter Welch is soliciting support from fellow House members for an investigation into the latest financial industry debacle — this one involving the alleged manipulation by banks of interest rates before and after the financial crisis of 2008.

Barclays, a British-based bank, has already reached a $450 million settlement with U.S. and British regulators over the bank’s manipulation of Libor — the London interbank... Read More

• July 14, 2012 — NPR: '$6B Deal Eases Credit Card Surcharge Restrictions'

• July 13, 2012 — Welch reacts to settlement over credit card swipe fees

• July 13, 2012 — LA Times: 'Visa, MasterCard to pay $6 billion to settle retailers' lawsuit'

• July 13, 2012 — Huffington Post: 'Peter Welch On Libor: DOJ Should 'Aggressively Prosecute' All Involved'

• July 12, 2012 — New York Times: 'In Libor Scandal, a Push For Criminal Charges'

• June 25, 2012 — Rutland Herald: 'US probes tax on companies doing rebuilding'

• June 20, 2012 — Welch applauds SIGAR audit of Afghan government practice of taxing U.S. assistance

• June 20, 2012 — Washington Post: ' US to audit Afghan practice of taxing those helping rebuild the country'

• June 20, 2012 — The Hill: 'Lawmakers laud DOD audit of Afghan taxes on US aid '

• June 19, 2012 — Welch opposes bill granting environmental blank check for border control activities

• June 19, 2012 — New York Times: 'Debit Cards on Campus'

• June 12, 2012 — Welch demands end to large bank fees on student debit and prepaid cards

• May 15, 2012 — WCAX: 'Welch wants taxes on aid to Afghanistan stopped'

• May 14, 2012 — WCAX: 'Vt. delegation takes aim at JP Morgan debacle'

• May 11, 2012 — The Hill: 'JPMorgan mess could strengthen Democrat efforts with Dodd-Frank'

• May 11, 2012 — Bennington Banner: 'Welch: Congress needs compromise'

• April 27, 2012 — LA Time: 'Lawmakers call for more pay disclosure after Lehman Bros. report'

• April 4, 2012 — vtdigger: 'Welch calls for recess appointment of FEC commissioners'

• April 4, 2012 — Photo Album: 'Rep. Welch urges action on out-of-control federal campaign spending'

• March 30, 2012 — VPR: 'Welch Calls On IRS To Investigate 'Super PACs' '

• March 28, 2012 — Welch leads 32 Democrats in effort to crack down on Wild West campaign atmosphere in post-Citizens United World

• March 28, 2012 — The Hill: 'Dems: President should recess-appoint FEC commissioners'

• March 26, 2012 — Times Argus: 'Welch discusses priorities'

• March 11, 2012 — Rutland Herald: 'Taking aim at speculators'

• March 9, 2012 — Rutland Herald: 'Welch takes on campaign spending'

• March 7, 2012 — The Commons: 'Welch: Crackdown on Super PACs'

• March 3, 2012 — Brattleboro Reformer: 'Welch vows to fight corporate personhood'

• March 2, 2012 — Welch calls for IRS investigation of political groups masquerading as nonprofits; urges President to jumpstart Federal Election Commission

• February 2, 2012 — Welch and Miller rally 127 Democrats in opposition to rolling back defense cuts

• February 2, 2012 — New York Times: 'Republican Senators Propose Alternatives to Pentagon Cuts'

• February 2, 2012 — Associated Press: 'GOP senators unveil bill to avoid defense cuts'

• January 24, 2012 — Rutland Herald: 'Vt. delegation applauds GPS decision'

• December 15, 2011 — Welch leads over 80 House Democrats opposing efforts to undo debt ceiling deal and roll back defense cuts

• December 15, 2011 — Roll Call: 'Democrats Insist ‘Deal Is a Deal’ on Defense Cuts'

• December 15, 2011 — The Hill: 'House Democrats blast GOP efforts to avoid automatic defense cuts'

• December 15, 2011 — Burlington Free Press: 'Welch opposes efforts to undo defense cuts'

• December 13, 2011 — Blurt: 'Welch Joins Last-Minute Call to Strip Indefinite-Detention Provision from Defense Bill'

• December 8, 2011 — VPR: 'Welch Pushes For Continued Regulation Of Finance Industry'

• December 7, 2011 — Wall Street Journal: 'House Lawmaker Introduces Contractor Debarment Bill'

• December 7, 2011 — Welch introduces bipartisan bill to tackle contractor corruption

• November 23, 2011 — Burlington Free Press: 'U.S. answers Welch request on bank debit fees'

• November 22, 2011 — L.A. Times: 'Bank debit card fee plans face Justice Dept. antitrust review'

• November 22, 2011 — The Hill: 'DOJ investigating banks for breaking antitrust laws with debit card fees'

• November 22, 2011 — DOJ responds to Welch request for debit card fee anti-trust investigation

• November 7, 2011 — Burlington Free Press: 'State Department inspector to review pipeline process'

• November 1, 2011 — Welch reacts to announcement that Bank of America will scrap debit card fee

• November 1, 2011 — Washington Post: 'Bank of America scraps debit card fee after consumer backlash'

• October 29, 2011 — Rutland Herald: 'Sanders, Welch seek pipe investigation'

• October 18, 2011 — vtdigger: 'On video: Welch tries to find consensus as partisans continue to wage bitter fights in Congress'

• October 17, 2011 — Welch to Super Committee: Save $122 billion, end wasteful subsidies to the oil industry

• October 16, 2011 — Rutland Herald: 'Vt. banks won’t follow Bank of America down the debit card fee path'

• October 14, 2011 — VPR: 'Welch Calls For Bank Investigation'

• October 13, 2011 — Politico: 'Justice Department should investigate Bank of America fee, Dems say'

• October 13, 2011 — The Hill: 'House Dems call on Holder to investigate bank fee hikes'

• October 13, 2011 — Huffington Post: 'Debit Card Fee Prompts Calls For Justice Department Investigation'

• October 13, 2011 — Washington Post: 'Lawmakers ask Justice for probe on whether big banks acted improperly in new debit card fees'

• October 13, 2011 — Welch to Holder: New debit card fees warrant federal anti-trust investigation

• June 30, 2011 — Times Argus: 'Welch backs digital privacy bill'

• June 29, 2011 — Welch unveils bipartisan legislation to regulate GPS tracking of individuals

• June 29, 2011 — Photo Album: 'Rep. Welch unveils bipartisan legislation to regulate GPS tracking of individuals'

• May 27, 2011 — The Huffington Post: 'Afghanistan Withdrawal Measure Falls Just 12 Votes Short Of Passage In Congress'

• May 26, 2011 — House votes on Welch amendments to end the war in Afghanistan

• May 25, 2011 — Roll Call: 'Defense Bill Opens Anti-War Talk'

• May 24, 2011 — VPR News: 'Welch Calls Nation Building In Afghanistan "A Failure"'

• May 23, 2011 — Welch and Chaffetz continue bipartisan push to end the war in Afghanistan

• May 23, 2011 — As he returns to Washington, Welch announces initiatives to end the war in Afghanistan, chart a new anti-terrorism policy and check executive war powers

• May 10, 2011 — The Huffington Post: 'Bipartisan Lawmakers Push Obama On Afghanistan Withdrawal'

• May 10, 2011 — Vermont Public Radio: 'Welch Leading Effort To Withdraw Troops From Afghanistan'

• May 10, 2011 — Talking Points Memo: 'Bipartisan Group Urges Obama To Use OBL Raid As Example And End War In Afghanistan'

• May 10, 2011 — The Hill: 'Bipartisan House group to Obama: Pull troops from Afghanistan now'

• May 10, 2011 — VPR News: 'Welch Leading Effort To Withdraw Troops From Afghanistan'

• May 9, 2011 — Welch and Chaffetz lead bipartisan House group urging Obama to pull out of Afghanistan and recalibrate anti-terrorism strategy

• April 12, 2011 — National Public Radio: 'Accusations Of Corruption Rampant In Afghanistan'

• April 4, 2011 — After troubling reports of graft and money laundering, Welch wants Kabul Bank and Afghan officials looked into

• March 7, 2011 — Welch and Jones introduce bipartisan bill to stop Afghanistan from taxing US aid

• March 3, 2011 — Welch statement hailing SEC decision to crack down on Wall Street bonuses

• February 8, 2011 — Welch to Issa: Please step away from FOIA

• February 8, 2011 — Talking Points Memo: 'Welch to Issa: Step Away -- Or At Least Step Back -- From FOIA Demands'

• February 7, 2011 — Welch announces subcommittee assignments for 112th Congress

• January 19, 2011 — Welch appointed to House leadership team

• September 16, 2010 — Wall Street Journal: "US House Passes Bill Cracking Down On Contractor Corruption"

• September 15, 2010 — House passes Welch bill cracking down on contractor corruption

• September 8, 2010 — Welch calls on FDA to investigate "natural" syrup product

• September 8, 2010 — VPR News: "Welch Sees Need For New Policy In Afghanistan"

• September 7, 2010 — Bennington Banner: "Welch still has doubts about Afghan military aims"

• September 7, 2010 — Times Argus: "Welch: Vt. forces in Afghanistan serving well, but face daunting task"

• August 3, 2010 — Times Argus: "Welch bill plugs loophole giving tax benefit from oil spill"

• August 2, 2010 — Welch provisions included in oil drilling safety legislation passed Friday

• July 30, 2010 — Welch introduces bill to close punitive damages tax loophole

• July 29, 2010 — New York Times: "Lawmakers Call On Six Firms to Claw Back Bonuses"

• July 28, 2010 — Oversight Committee advances Welch bill banning contractors convicted of bribery

• July 21, 2010 — The Hill: "Dems: Party too vague on deficit"

• July 21, 2010 — Bennington Banner: "Welch sponsors deficit reduction bill"

• July 21, 2010 — VPR News: "Welch Joins Deficit Reduction Initiative"

• July 20, 2010 — Welch launches House deficit reduction working group

• June 25, 2010 — Holding BP Accountable

• June 17, 2010 — Welch grills Tony Hayward about BP safety record

• June 17, 2010 — Video: Rep. Welch delivers opening statement at BP CEO Tony Hayward hearing

• June 17, 2010 — Welch supports, House passes government efficiency and performance initiative

• June 16, 2010 — Video: Reps. Welch and Markey respond to BP's decision to halt dividend payment

• June 16, 2010 — Welch statement on BP announcement

• June 16, 2010 — Welch highlights Treasury report showing swipe fees cost taxpayers

• June 15, 2010 — At BP hearing, Welch questions oil executives about taxpayer subsidies

• June 15, 2010 — Welch and 31 House members call on BP to direct dividends to escrow account

• June 10, 2010 — As House supports Gulf funding, Welch reiterates call for BP to put response before profits

• June 10, 2010 — As House supports Gulf funding, Welch reiterates call for BP to put response before profits

• June 8, 2010 — Welch calls on BP to suspend dividend payments and marketing campaigns

• June 8, 2010 — Video: Rep. Welch calls on BP to put progress before profits

• June 8, 2010 — Video: Welch calls on BP to suspend dividend payments and marketing campaigns

• May 25, 2010 — Blurt, the Seven Days Blog: "Bribe a Foreign Official? No Federal Contracts for You!"

• May 24, 2010 — Welch introduces bill to ban federal contractors convicted of bribing foreign officials

• May 12, 2010 — Video: Welch visits BP oil spill with bipartisan delegation

• May 12, 2010 — Video: Rep. Peter Welch delivers opening statement at Gulf spill hearing

• May 12, 2010 — Video: Welch questions leaders of BP, Transocean and Halliburton at Gulf spill hearing

• May 8, 2010 — Burlington Free Press: "Welch visits oil spill site in Gulf"

• May 7, 2010 — Photo Album: "Rep. Welch's Photos from the Gulf of Mexico Oil Spill"

• May 4, 2010 — Welch introduces legislation to limit debit card fees

• April 30, 2010 — Vermont Public Radio: "Welch Optimistic On Campaign Finance Legislation"

• April 29, 2010 — Welch joins bipartisan response to Citizens United case

• April 28, 2010 — Welch votes to overhaul defense spending procedures

• April 28, 2010 — Video: Rep. Welch questions oil refinery official about industry subsidies

• March 2, 2010 — Burlington Free Press: "Welch backs campaign finance reform bill"

• March 1, 2010 — Welch calls for legislative response to Supreme Court campaign finance decision

• February 18, 2010 — Welch statement on Obama fiscal commission

• February 4, 2010 — Audio: Welch joins President Clinton to discuss PAYGO legislation

• February 4, 2010 — Video: Rep. Welch hails fiscal responsability bill

• February 4, 2010 — House passes Welch fiscal responsibility legislation

• February 4, 2010 — Welch statement on Boehner courting Wall Street

• February 4, 2010 — Bennington Banner: "Welch hails passage of ‘pay-as-you-go'"

• February 3, 2010 — Huffington Post op-ed: "Keeping the Long-Term Fiscal Picture in Mind"

• January 28, 2010 — Welch commends Senate adoption of fiscal responsibility rules

• December 11, 2009 — Politico: "Anger at Goldman lingers on Hill"

• December 3, 2009 — House passes Welch-sponsored TARP transparency bill

• November 19, 2009 — Welch statement on GAO credit card ‘swipe fee’ report

• November 12, 2009 — Bennington Banner: "Welch questions troop buildup in Afghanistan"

• November 12, 2009 — Times Argus: "Welch wants Blackwater probed"

• November 12, 2009 — Seven Days: "Welch Seeks Probe of Blackwater in Wake of Bribery Charges"

• November 11, 2009 — Welch calls for Blackwater investigation by House Oversight Committee

• October 29, 2009 — VPR: "Welch: Goldman Sachs should repay taxpayers"

• October 28, 2009 — Welch calls on Goldman Sachs to return AIG funds to taxpayers before awarding bonuses

• October 28, 2009 — Video: Rep. Welch calls on Goldman to pay back taxpayers

• October 19, 2009 — Welch calls for end to tax loophole used by Verizon in FairPoint sale

• October 8, 2009 — Video: Rep. Welch, Kathy Miller support swipe fee reform

• October 3, 2009 — Rutland Herald: "Welch holds constituent conference call on issues"

• September 30, 2009 — Video: Rep. Welch urges reform of credit card fees

• September 15, 2009 — Welch leads initiative to make federal government more energy efficient

• September 3, 2009 — Welch gift ban would crack down on pharmaceutical marketing abuse

• July 30, 2009 — Welch supports, House passes bill to restore federal highway funding to Vermont

• July 22, 2009 — House passes Welch fiscal responsibility legislation

• July 22, 2009 — Video: Rep. Welch champions responsible spending legislation

• July 21, 2009 — Video: Rep. Welch speaks in favor of PAYGO

• July 17, 2009 — Welch supports, House passes bill to save car dealerships

• July 16, 2009 — Welch questions former Treasury Secretary Henry Paulson about BOA’s refusal to pay back taxpayers

• July 16, 2009 — Video: Rep. Welch grills Hank Paulson

• June 25, 2009 — Welch introduces legislation to halt oil and gas speculation

• June 19, 2009 — Welch introduces fiscal responsibility legislation

• June 11, 2009 — Welch grills Bank of America CEO Ken Lewis at Oversight hearing

• June 11, 2009 — Video: Rep. Welch grills Bank of America CEO Ken Lewis

• June 9, 2009 — Welch to sponsor Obama pay-as-you-go bill

• June 9, 2009 — Video: Welch joins Obama for fiscal responsibility announcement

• May 20, 2009 — House sends Credit Cardholders’ Bill of Rights to President Obama for signature

• May 6, 2009 — Welch-sponsored stimulus oversight bill passes House committee

• April 30, 2009 — Welch supports, House passes Credit Cardholders’ Bill of Rights

• April 28, 2009 — Welch seeks 18 percent cap on credit card interest rates

• March 16, 2009 — Video: Rep. Welch questions Treasury official Kashkari about AIG

• March 11, 2009 — Welch calls for transparency in AIG’s use of taxpayer funds

• March 11, 2009 — Video: Rep. Peter Welch calls for greater AIG transparency

• March 4, 2009 — Welch joins Obama at announcement of government contracting procedure overhaul

• March 4, 2009 — Video: Rep. Welch attends Obama announcement of contracting reform

• February 5, 2009 — Welch named to Committee on Oversight and Government Reform

• February 4, 2009 — Welch lauds Obama cap on executive compensation

• January 22, 2009 — Welch appointed to House Ethics Committee

• January 21, 2009 — Welch supports, House passes TARP Reform bill

• January 15, 2009 — TARP Reform Act will cap executive compensation

• January 8, 2009 — Welch named to three Energy and Commerce subcommittees

• January 7, 2009 — Welch calls on Congress to close loophole on bank bonuses

• November 18, 2008 — OMB implements Welch contractor fraud law

• September 19, 2008 — Welch to hold a Monday press conference on economic instability

• September 16, 2008 — Welch introduces bill to prevent ousted Fannie and Freddie CEOs from receiving ‘golden parachute’ payments

• August 7, 2008 — Welch demands answers in abuse of tax code to fund executive benefits

• June 30, 2008 — Welch government contracting initiatives signed into law

• June 26, 2008 — Welch supports and House passes anti-speculation bill; Welch amends transit bill to help green bus fleets

• June 24, 2008 — Welch supports, House passes bill cracking down on gas price gouging

• June 19, 2008 — Welch to vote against FISA compromise

• April 23, 2008 — Welch contractor fraud bill passes House

• April 15, 2008 — Administration, contractor lobby testify in Welch-led fraud investigation

• April 14, 2008 — Bush administration plans to close fraud loophole in response to Welch-initiated investigation

• April 7, 2008 — Welch drops bill to close overseas contract fraud loophole, hearing scheduled

• March 20, 2008 — Waxman, Towns & Welch open investigation into overseas contract fraud loophole

• March 7, 2008 — Welch calls for full investigation into Bush admin. proposal on overseas contracting

• February 28, 2008 — Welch takes Vermont voices to budget hearing

• February 27, 2008 — Welch supports, House passes end to tax breaks for big oil, funds renewables

• February 21, 2008 — Welch seeks to protect consumers from predatory credit card practices

• February 20, 2008 — IRS backs down on rule change that would have harmed Vermont's captive insurance industry

• February 14, 2008 — Welch votes to hold Bush administration officials in contempt

• January 14, 2008 — Welch website wins service award

• December 17, 2007 — Welch helps Vermonters access unclaimed tax refunds

• December 14, 2007 — Vermont Delegation Secures King Monument Pledge

• November 26, 2007 — Welch: Be safe; Buy Vermont gifts this holiday season

• November 15, 2007 — Welch supports House-passed bill prohibiting warrentless surveillance

• November 1, 2007 — Welch bill shuts ‘Enron Loophole’ inflating heating fuel bills

• October 16, 2007 — Welch slams Bush administration for obstructing oversight, House approves measure on abuse of classification process

• October 16, 2007 — Welch supports, House passes press shield law

• October 15, 2007 — Oversight report reveals high costs of Medicare Part D drug program

• October 14, 2007 — Reps. Welch, Murphy, and Duncan demand answers on Blackwater on profits, role in Iraq and Afghanistan

• October 11, 2007 — Welch leads House effort against U.S. sanctioned torture

• September 13, 2007 — Cong. Delegation Responds to President Bush’s ‘Stay the course’ Strategy in Iraq

• September 10, 2007 — Welch responds to Petraeus testimony, military solution will not solve Iraq’s civil war

• September 6, 2007 — Welch introduces nuclear power plant safety bill, calls for independent safety assessments

• September 5, 2007 — Welch reacts to GAO Iraq report

• August 27, 2007 — Gonzales resignation demonstrates accountability produced by congressional oversight

• August 23, 2007 — Cong. Delegation Requests Thorough Investigation Into Vermont Yankee Cooling Tower Collapse

• July 17, 2007 — Welch says VA Secretary’s resignation an opportunity to recommit to nation’s veterans

• July 17, 2007 — House passes reform to alleviate passport backlogs

• July 2, 2007 — Statement of Rep. Peter Welch on Pres. Bush's decision to commute "Scooter" Libby's prison sentence

• June 20, 2007 — Welch takes aim at billion dollar tax loophole

• April 25, 2007 — Welch urges subpoena of Secretary of State Rice

• April 20, 2007 — Vermont Delegation Statement on Impeachment

• April 20, 2007 — Welch successful in amending bill to modernize over 20 year-old Army Corps review process

• March 28, 2007 — GAO accepts Welch-led effort to investigate preparations for returning veteran care

• February 5, 2007 — Bush budget misguided, fiscally reckless, and continues failed Iraq policy

• January 30, 2007 — Welch questions Bush Administration interference in global warming science

• January 10, 2007 — Welch appointed to serve on second committee

• May 10, 2001 — Restoring Accountability & Oversight

• April 23, 1900 — Welch contractor fraud bill passes House