Benjamin Gilman: “this amendment merely gives the Congress an extra level of protection with regard to this bill. Under the current bill…”

“this amendment merely gives the Congress an extra level of protection with regard to this bill. Under the current bill, the administration must notify the Congress when a country is eligible for debt relief. While that is comforting, the Congress would not know of the amount of debt to be forgiven, the financial commitment to the environment made by the host country, the specific habitat to be protected or the local groups designated by the administration and host country to carry out the project. Under this bill, we are giving authority to the President to carry out debt relief anywhere a country is eligible. We want to do projects in difficult nations like Indonesia and eventually the Congo where critical habitats are, but I have some concerns about the governments and local groups there. This amendment would give us one last look at the complete arrangement before moving forward. We would reference section 634(A) of the Foreign Assistant Act, using a well-worn procedure of consultation between the Congress and the executive branch. I understand that the Treasury Department had some concerns with the amendment. I am totally willing to work with them to refine the notification process as the bill moves through the Senate. Accordingly, I urge our Members to support the amendment.”