We investigate the effect of a direct current on propagating spin waves in a CoFeB/Ta bilayer structure. Using the micro-Brillouin light scattering technique, we observe that the spin-wave damping and amplitude may be attenuated or amplified depending on the direction of the current and the applied magnetic field. Our work suggests an effective approach for electrically controlling the propagation of spin waves in a magnetic waveguide and may be useful in a number of applications such as phase-locked nano-oscillators and hybrid information-processing devices. © 2014 American Physical Society.