Washington, DC - U.S. Senator Dianne Feinstein (D-Calif.) today offered an amendment to the Iraq and Afghanistan Supplemental Appropriations bill that would provide more transparency and more oversight over how the $20.3 billion in reconstruction funding for Iraq is spent.

The amendment releases the $20.3 billion in reconstruction funds in three installments, conditioned on the President presenting a reconstruction plan to Congress with specific goals and timeliness, and reporting to Congress on how that plan is being implemented.

"If I had my way in designing this supplemental request, I would fence the funds - requiring that after the release of an initial amount a second, or even third vote by Congress was needed for additional funds to flow," Senator Feinstein said. "But such an approach, I understand, could not pass in this Senate."

"This amendment, however, does provide a mechanism for a detailed reports and plans from the President and for greater transparency on how the $20.3 billion Iraq Relief and Reconstruction Fund is spent," Senator Feinstein said. " It mandates detailed plans from the President many of us believe have been lacking. It also gives Congress the ability to review how the money is being spent, what costs are incurred, who else is contributing, and what progress is being made in meeting important security, political, and economic reconstruction milestones. These are significant improvements in the underlying bill."

The Amendment is cosponsored by Senators Patty Murray (D-WA), Richard Durbin (D-IL), Tim Johnson (D-SD), Hillary Clinton (D-NY) and Barbara Boxer (D-Calif.). Specifically, this Amendment would:

1. Provide for the immediate release of one third of the $20.3 billion for reconstruction in Iraq - $6.77 billion - with the President required to provide Congress with a comprehensive plan for Iraqi reconstruction. The plan would have to include goals and time-lines for specific reconstruction activities within 60 days of enactment.


2. Provide for the release the remaining $13.54 billion (requested in two equal disbursements of $6.77 billion). The second installment after 120 days, the final after 240 days. Both disbursements would be subject to a Presidential Determination that the goals and time-lines spelled out in these detailed reports are being met.
   
3. Require that the President to submit subsequent reports to Congress every 60 days thereafter, until all the funds are expended. This would keep Congress and the American people up-to-date on how reconstruction activities are proceeding, and any changes or additions to the Administrations' plans.

"There may be significant disagreement among members of the Senate about the wisdom of the course which has led us to this point in Iraq," Senator Feinstein said. "But now that the U.S. is in Iraq, it is clear to me that we must stay the course, and we must rebuild the infrastructure, prevent civil war, and see to it that Iraq does not become a base for terror and instability throughout the region. Indeed, from a national security perspective, I strongly believe that the United States cannot turn tail and run. Instead, we must see to it that a stable governmental structure and viable economy apart from Saddam's tyrannical dictatorship can be put in place.

As much as I may wish that we could structure this package as loans, that there be greater international contributions to the reconstruction effort, that Iraqi oil could be quickly bought on-line to underwrite costs, that some of the funds earmarked to be spent in Iraq could be spent on domestic priorities instead, or that reconstruction be paid for by rolling back the tax cut for the top 1 percent, these options have been debated and voted down by this body.

Nevertheless, the United States today has an inescapable responsibility in Iraq, and it is clear to me that now that we are there, we must win the peace. Indeed, this may well prove to be one greatest tests of American leadership since World War II, and to fail in this endeavor would risk irreparable harm to our national security interests and our reputation in the international community."