Sep 22 2005
Coburn/Obama bill establishes transparency, accountability in recovery efforts
(WASHINGTON, D.C.) – U.S. Sen. Tom Coburn, M.D. (R-OK) today hailed the committee passage of the Oversight of Vital Emergency Recovery Spending Enhancement and Enforcement (OVERSEE) Act of 2005.
The bill was introduced by Senators Coburn and Obama and is co-sponsored by Senate Majority Leader Bill Frist and Minority Leader Harry Reid.
The bill, which establishes a chief financial officer to provide oversight of federal funds spent on relief and recovery costs from Hurricane Katrina, unanimously passed by voice vote out of the Senate Homeland Security and Governmental Affairs Committee.
“With billions of dollars being spent on relief and recovery efforts from Hurricane Katrina, it’s absolutely imperative for Congress to ensure taxpayers’ money is spent wisely,” Dr. Coburn said. “This bill provides transparency and accountability in how money is spent and provides needed oversight up front. We must know how this money is spent before the fact, not after the fact. I urge prompt consideration of this bill on the Senate floor and urge my colleagues to support it.”