CFA to House: Vote “Yes” on TARP Accountability Bill

The following is cross-posted at www.fiscalaccountability.org:

The House will be voting on Rep. Maloney’s and King’s TARP Accountability and Disclosure Act (H.R. 1242).  CFA has been very supportive of the bill, and will rate a vote in support of the bill in our annual Congressional ratings.  From our vote alert:

The Center for Fiscal Accountability urges all Members of the U.S. House of Representatives to vote “yes” on H.R. 1242, the TARP Accountability and Disclosure Act.

The bill, which has been placed on the suspension calendar for this week, provides an important step towards greater transparency and accountability with regard to the Troubled Asset Relief Program, which, in spite of lofty promises, remain elusive.

Particularly as the program may well be extended into next year, it is all the more important that the Treasury Department be required to step up its oversight efforts with regard to TARP. H.R. 1242, which would create a comprehensive searchable database for relevant data to be made available to the Comptroller General, the Congressional Oversight Panel, and the Special Inspector General of the Troubled Asset Relief Program, would provide for exactly that.

While such disclosure directly to the American taxpayers is also necessary, swift passage of H.R. 1242 will provide an important step in that direction.

Click here for a pdf version of the alert.