Louise Slaughter: “the first amendment by Mr. Sabo will create a new review and approval process to ensure that the secret, backroom deals…”

“the first amendment by Mr. Sabo will create a new review and approval process to ensure that the secret, backroom deals, like the irresponsible Dubai Ports World, cannot happen again. The Sabo amendment strengthens the process by which our government reviews future foreign takeovers. It will require that all foreign transactions that could result in foreign control of any entity engaged in interstate commerce must undergo a thorough review that mandates the direct involvement of the President and the Congress. The second amendment, by Ms. Kaptur, will create a select congressional committee based on the Truman Committee from the Second World War to investigate and study the awarding and carrying out of government contracts, to conduct military and reconstruction activities in Iraq, and for the rebuilding efforts in the gulf coast in the wake of Hurricane Katrina. There is ample evidence of the necessity of this modern-day Truman Committee. Every day, more examples of fraud emerge. Billions and billions of dollars have been misused both in this country and overseas, and ensuring vigilant oversight of taxpayer dollars should not be a partisan issue. We owe it to the American taxpayers. We owe it to our brave soldiers in harm's way, and we owe it to the citizens in Louisiana, Mississippi, and Alabama who struggle every day to put their lives back together after the ravages of Hurricane Katrina.…”