Dianne Feinstein: “I believe this amendment to this supplemental would provide some additional transparency and oversight as to how the…”

“I believe this amendment to this supplemental would provide some additional transparency and oversight as to how the $20.3 billion in reconstruction funding is spent. The amendment essentially releases the appropriation of the $20.3 billion in three tranches. These tranches are not fenced, but they are conditioned on the President presenting a reconstruction plan to Congress with specific goals and timetables, and reporting to Congress on how that plan is being implemented. The amendment began as a bipartisan amendment. Unfortunately, at this stage it is not, but it is cosponsored by Senators Murray, Durbin, Johnson, Clinton, and Boxer. Specifically, the amendment would provide for the immediate release of one-third of the $20.3 billion for reconstruction in Iraq--that is $6.77 billion--with the President required to provide Congress with a comprehensive plan for Iraqi reconstruction. The plan would include goals and timetables for specific reconstruction activities. Second, it would provide for the release of the remaining $13.54 billion requested in two equal disbursements of $6.77 billion, the second tranche after 120 days--or 4 months--and the final after 240 days. Both disbursements would be subject to a Presidential determination that the goals and timetables spelled out in these detailed reports are being met. Third, this would require that the President submit reports to Congress every 60 days about how the money is spent.”