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Measure and Disclose the Costs of Public Contracts

Democrats propose oversight processes for stimulus, TARP funds

PORTLAND, Ore. (NNPA) - Rep. Chip Shields (D-Portland) this week introduced a bipartisan bill that would provide oversight of how state-chartered banks are spending money disbursed through the Troubled Assets Relief Program (TARP).

The move comes at the same time another new bill would create a statewide “stimulus czar” to oversee the influx of money expected from President Barack Obama’s economic plan.

If passed, Shields’ House Bill 2784 would convene a bipartisan group of Oregon state senators and representatives, as well as members of the Oregon Department of Consumer and Business Services and representatives of the financial industry, to provide oversight and evaluate the need for regulation of operations of financial institutions licensed, certified or chartered in this state that receive funds from the TARP program.

New Coalition Demands Transparency in Federal and State Recovery Spending

With the federal government about to transfer hundreds of billions of dollars to the states, with many of those funds going to private contractors, a broad-based, bi-partisan coalition of organizations has come together in a Coalition for an Accountable Recovery.    The Coalition, which Progressive States Network participated in creating, is promoting reforms at both the federal and state level to assure transparency in how funds are used by federal and state contractors, the number of jobs created, and the quality of jobs created-- with the results posted online in easily searchable websites for the public.