WASHINGTON, DC- To increase oversight and accountability in the economic recovery package, U.S. Senator Bob Casey (D-PA) introduced two amendments to augment the oversight provisions proposed by the Obama Administration. The amendments would allow for a comprehensive assessment of the enacted package by creating a joint oversight committee and would also direct the Government Accountability Office (GAO) to review implementation and report to Congress.
“Families have been hit with a kind of economic trauma we have not seen in more than a generation; the same is true of businesses,” said Senator Casey. “We also know that just as that has been happening, there has also been a real crisis of confidence, some of this emanating from the way the Troubled Asset Relief Program, the so-called TARP, was implemented by the Treasury Department in the prior administration. This effort with the two amendments is a way to very specifically begin to rebuild the confidence the American people must have in what the Congress does and to recover and reinvigorate some of that trust we should have in our Government, especially at this time.”
Joint Committee on Economic Recovery Oversight
Senator Casey continued: “While I recognize the administration has pushed for and the bill before us includes a new Recovery Act Accountability and Transparency Board, I want to make sure the legislative branch is in a position to carry out our oversight responsibilities. Congress has not always done a good job on that and we have to ensure that a good job is done in this instance for this kind of oversight.”
Senator Casey’s first amendment would allow for a comprehensive assessment through the creation of a Joint Select Committee on Economic Recovery Oversight. This Oversight Committee will be made up of members of the House and Senate and will be required to submit reports to every member of the Congress and, more importantly, to the public every three months. The reports will focus on (1) the success of this Act in creating jobs and (2) any instances of waste, fraud and abuse in programs funded by this act.
Membership on the panel will break down as follows:
(1) 10 Members of the Senate, including the Chairman and Ranking Member of the Committee on Finance and the Committee on Appropriations, or their designee, 4 members appointed from the majority party by the majority leader of the Senate and 2 members from the minority party to be appointed by the minority party.
(2) 10 Members of the House, including the Chairman and Ranking Member of the Committee on Ways and Means and the Committee on Appropriations, or their designee, 4 members of the majority party by the Speaker of the House, and 2 members from the minority party to be appointed by the minority leader.
Coordinated Reporting Requirement
Senator Casey said: “The aim of these GAO reports would be to assess which provisions of the act have been effective at creating jobs. The whole intent of this legislation is to create jobs. We better make sure that happens.”
Senator Casey’s second amendment would direct the Government Accountability Office to compile reports of the offices of the Inspectors General in each of the Federal departments or agencies that expend or obligate funds under the recovery act. GAO would in turn submit reports to Congress that contain:
(1) a summary of oversight activities of the offices of Inspectors General relating to expenditure of recovery funds;
(2) an evaluation of the effectiveness of the Act.
The aim of GAO’s reports will be to assess which provisions of the Act have been effective at creating jobs. The reports will be submitted no later than 120 days from enactment of the Act, with follow up reports submitted at 180 days after enactment and 240 after enactment.
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