Tagged: House

Reining In Wall Street

from a press release:

Himes Helps Craft and Pass Legislation to Rein in Wall Street, Protect Consumers

Wall Street Reform ends taxpayer funded bailouts, protects consumers and investors, increases transparency

WASHINGTON, DC –Congressman Jim Himes (CT-4) today helped pass legislation to end taxpayer bailouts of big banks, protect consumers and investors, and increase transparency in the American financial system.  The Wall Street Reform and Consumer Protection Act addresses the root causes of the economic crisis, which cost 8 million jobs and $17 trillion in savings, to help ensure we never again face the near collapse of the national economy.

“Families in Connecticut and across the country lost their homes, their jobs, and their retirement savings as a result of the financial crisis,” said Himes.  “We learned the hard way that what happens on Wall Street affects everyone’s economic livelihood, and this legislation will restore our financial security and faith in the system.”

The Wall Street Reform and Consumer Protection Act will end the concept of “too big to fail” so that taxpayers will never again be asked to bailout irresponsible private companies.  The bill creates a process to shut down large, failing firms whose collapse would put the entire economy at risk. This program will operate much like the Federal Deposit Insurance Corporation, the organization that manages the seamless restructuring and sale of failing local banks.

“Lax regulation allowed big firms to make risky bets and offer loans to people who couldn’t pay them back,” said Himes. “These reforms will put rules in place to monitor and clamp down on risky behavior that could endanger our financial system.”

For too long, huge markets in complex securities such as derivatives were dangerously opaque and unregulated. This legislation will finally drag into the light of day these risky markets. In its prime, this market was six to ten times the size of the stock market. Himes worked hard to ensure that Wall Street Reform would hold derivatives dealers to strict standards while protecting end users like farmers and manufacturing companies that need to insure against risks such as fluctuations in the price of soy beans or foreign currency.

“Our economy thrives when everyone—from consumers and small business owners to large corporations and financial institutions—has access to the necessary information to make smart financial decisions,” said Himes. “Transparency is key to making any market work well. That means consumers need to understand their mortgages, and banks can’t be permitted to hide their riskiest activity from the people whose money they are managing or the regulators trusted with keeping our financial system safe.”

Also key to this reform is the creation of a Consumer Financial Protection Bureau, which will unite consumer protection rules under one roof.  Currently, a variety of laws and the authority to enforce them are scattered throughout the regulatory structure, and no single entity determines whether products, features, or practices are unfair, deceptive, abusive, or unsustainable. The creation of the CFPB will, for the first time, establish a regulator tasked with the job of creating and enforcing one comprehensive set of rules to protect consumers.  This consolidated approach will promote honest competition, protect the economy, and most importantly, provide a safety net for consumers.  Moreover, this new agency will ensure that there is a quick response to emerging harmful practices, before they undermine a family’s financial stability or become a systemic risk. To ensure small businesses are able to meet these new requirements without undue burden, Congressman Himes passed an amendment to create an Ombudsperson within the CFPA.

“Wall Street Reform addresses the causes of the financial meltdown while putting in place strong protections to prevent another collapse,” said Himes. “I’m proud to have helped craft this legislation. It will protect consumers, increase transparency, control dangerous risk, and eliminate the possibility that the American taxpayer will ever again be asked to bailout irresponsible private companies.”

The bill has been endorsed by the AARP, Consumer Federation of America, Consumers Union, Council of Institutional Investors, National Fair Housing Alliance, National Restaurant Association, Public Citizen, SEIU, and US PIRG, among other organizations. The bill was publicly debated for more than 50 hours, and includes over 70 bipartisan amendments.

Himes Wants Greater Government Transparency

from a press release:

Himes’ Government Reform Plan Helps Restore Accountability, Transparency to Congress
Proposal will hold require Members of Congress to play by the same rules as regular citizens, federal employees

NORWALK, CT—Congressman Jim Himes (CT-4) outlined today at a press conference in Norwalk a set of priorities to restore accountability and transparency to the United States Congress. The plan he spearheaded, supported by a broad coalition of new Members of Congress, puts in place strict rules regarding earmarks, requires better accounting of expenses both from Members’ offices and for congressional travel, and improves transparency across government.

“As elected officials, we must hold ourselves to a higher standard, and that commitment needs to begin in the United States Congress,” said Himes. “For too long, scandals and conflicts of interest have been swept under the rug, and lackluster accountability requirements have left the door open to abuse. I went to Washington to change the way this country is run, and this proposal makes that changes a reality.”

At the press conference, Himes explained that little accounting is required for official trips taken as part of a Congressional Delegation (CODELs). When Himes returned from a trip to Afghanistan for oversight responsibilities associated with his position on the Homeland Security Committee, there were no instructions provided as to how or where to return $400 in per diem funds he did not use. In fact, it took Himes and his staff several weeks and nearly two dozen phone calls to determine the appropriate method to return the funds. Eventually, Himes returned the excess allowance via personal check to the State Department; however, it became evident no clear process was in place to either require or track these remittances.

“If you go on a business trip, you may be given petty cash, but you’re usually required to account for every expense with receipts and reimbursement forms. When you travel with a CODEL,” explained Himes, “not only is no expense reporting required, but there is no system in place to track whether or not you return excess funds. This must change.”

Himes worked with other first-term Members of Congress to craft a set of policy changes that require Members of Congress to play by the same rules one would expect to follow as a regular citizen or federal employee. The polices reduce the influence of campaign contributions on federal funding and ensure that government information—whether from agencies or regarding representatives’ spending—is easily accessible.
The complete package includes changes to:
· Make earmarks more transparent
· Make Members’ expenses more transparent and return any unused funds
· Improve ethics investigations
· Improve public access to vital information
· Reform Congressional travel
· Minimize conflicts of interest and close the revolving door
· Allow more stringent state ethics reforms
· Enact a voluntary small donor campaign funding system

Himes has been committed to improving accountability in Congress since he was sworn into office last year. Beginning with crossing party lines over 10 times to call for ethics investigations into the tie between earmarks and campaign contributions to the strict appropriations policy he adopted in his own office to being among the first lawmakers to return campaign contributions from former Ways & Means Committee Chair Charlie Rangel, Himes has led by example.

“Whether we’re fixing the economy, reforming health care, or seeking federal investment for local projects, the American people need to be able to trust their leaders to act in their best interest,” said Himes. “While we have made some progress in this area, recent events have shown we need to do more. I am committed to restoring that trust.”

A fact sheet with more specific information on the above proposals AND a list of other representatives who have already signed onto the plan follow this release.

Never breaking stride, Malloy makes candidacy official.

One week ago today, Dan Malloy officially became a candidate for Governor.
Video:


Malloy continued his torrid pace of appearances, appearing on WFSB’s Face the State, answering questions from panelists Daniela Altimari of The Hartford Courant, Ted Mann of The Day, and host Dennis House.
Video (thanks to ctblogger):


Malloy’s Sunday appearances included a conversation with Connecticut Newsmakers host Tom Monahan.
Video (thanks again to ctblogger):


There’s more after the jump…
Continue reading

What if…

OK, so let’s play what if.

The lay of the land:
First, recall that Senator Dodd is up for re-election in 2010.
Second, recall that Senator Lieberman is up again in 2012.
The Governor gets to name a replacement for either Senator’s seat should he for some reason vacate it before the end of his term.
The seat would then be contested in the next even-numbered year.
If a Congressman vacates his seat, the Governor appoints someone to their seat a Special Election is called to fill the seat for the rest of the term, which is up every even-numbered year. So, the winner is seated in 2009, and you’re immediately raising money because the next election is 2010.

Scenario 1: McCain wins. I start with this because it is has the more interesting combination of possibilities.
Were McCain to win, Lieberman goes to Secretary of Defense or State. Rell appoints someone to the seat, and the seat is up for election in the 2010 cycle (it will then be up again in 2012). So potentially you could have four Senators in one seat in the space of four years! The possibilities are large just with this seat.

But it gets more interesting if, deciding he wants to spend more time with his family, Senator Dodd were to decide that he will not seek re-election in 2010. You now have two United States Senate seats open at the same time! Someone will have to do the research to know just how rare this circumstance would be.

The amount of money and effort that would pour into the state would dwarf the Lamont/Lieberman/Schlesinger contest in 2006. It would suck the air out of the Governors race. That would favor the incumbent Governor Rell, should she be seeking reelection.
In other words, McCain winning could be a disaster for Connecticut Democrats.

Scenario 2: Obama wins.
Were Obama to win and Dodd to become, say, Ambassador to Ireland, Governor Rell would have the power to appoint his replacement. The seat is up in 2010. Expect Blumenthal to launch. The other potential aspirant often mentioned is Rosa DeLauro.

Say Rell appoints Chris Shays. If Shays is still seated, that opens the seat in CT04. Whom does Rell appointWho are the likely candidates? On the Republican side, State Senate Republican Leader McKinney is the prohibitive favorite to run for his father’s former seat. On the Democratic side there are a couple of possibilities, Bridgeport Mayor Bill Finch is one, but the more likely candidate at this stage of the game is State Senator McDonald from Stamford/Darien.

Blumenthal wins against Shays or the other most likely selection, former CT02 Congressman Rob Simmons.

And we can take it from there… Continue reading

Nationally, Congressional Republicans Are Broke

Chris Shays must have been thinking about this when he floated out his “give me a chairmanship or I quit” demand a few weeks ago. This being the reports that are scuttling many plans to for Republican congresscriters to fund challenger campaigns.

The National Republican Congressional Committee (NRCC) reported $1.6 million in cash on hand and $4 million in debts as of Aug. 31. The group helps bankroll House campaigns for GOP candidates.

Its counterpart, the Democratic Congressional Campaign Committee, reported $22.1 million, more than 10 times its Republican counterpart. 

Campaign finance experts say the latest numbers portend an ill future for GOP candidates, particularly newcomers who haven’t had years in office to build up a war chest.

"If there’s no money in the bank, it’s going to be hard to take seats away from the Democrats," said Massie Ritsch of the Center for Responsive Politics, a Washington, D.C.-based campaign finance watchdog group.

Things aren’t looking so good for the Senate Republican coffers either, the same report cites $7 million in the bank to the Democrats $20 million. The national parties themselves show a different trend, the RNC has raised $57.3 million to the DNC’s $36.8 million, but that might just be a reflection of presidential politics.

source: the blotter: abcnews by Avni Patel, September 26, 2007

Affordable Housing Down 11% In Gold Coast

Chalk this report released by SWRPA as stating the obvious. As real estate prices have shot up in the last few years, the affordable factor in housing disappears. And that’s what the report basically says in today’s Advocate. One solution, the report states is to encourage 40 year mortgages:

The study recommends state and local governments pursue density bonuses and other incentives for developers to create affordable housing in those areas.

Other recommendations include SWRPA becoming an affordable housing information clearinghouse in its role as the region’s main intergovernmental planning agency, and urging lenders to create more flexibility in mortgages so home buyers can borrow more within acceptable limits.

Carty urged caution on increasing the percentage of household income that lenders allow to go toward mortgage and housing costs, saying that was part of the problem that has led many less-qualified borrowers into default in the current subprime mortgage crisis that has roiled the stock markets.

“You don’t want people one paycheck away from disaster,” she said.

Instead, lenders should consider 40-year mortgages, which spread out payments for much longer. Buyers don’t build equity as fast, she said, but they can afford much more home in an expensive market.

Why stop at 40? The reality is that home ownership, for a 40 year mortgage is essentially renting. No one in the housing industry will likely admit that.

source: Advocate , , Study cites decline in affordable housing along ‘Gold Coast’, By Doug Dalena, August 22 2007

Congress, How It Works

The Discovery channel started a new show aimed at teaching how it is that things like hockey sticks, get made. In the wee hours of the morning, shows like this play in between the infomercials that try and sell you weight loss pills and how to get rich selling real estate with no money down. Congress, in many ways, resembles this mix of hucksterism and process, with the occasional tabloid drama thrown in.

This week in particular we have the tale of two congresscritters to think about. One congresscritter, now known for stashing $90,000 in his freezer, carefully wrapped in aluminium foil, is facing a 16 count indictment. U.S. Rep. William Jefferson-LA is pleading not guilty, but the FBI has charged him with taking bribes totaling more than $500,000.


The other congresscritter is now known for funding a bridge in Alaska at the cost of $200 million that would serve only 80 residents of a small island. But that reputation will soon be displaced, or perhaps more aptly amplified by his latest transgression. U.S. Rep.Don Young-AK has tacked on to a wholly unrelated bill, a $10 million earmark to build a road in Florida.

The residents and and fellow Republican congressmen didn’t request the money for the road. In fact, according to the NYT, the county voted to twice reject the the money for the road. Which apparently prompted the requester to make a big deal about it, which in turn led to the dots being connected back to a $40,000 campaign contributor. From the NYT:

The Coconut Road money is a boon, however, to Daniel J. Aronoff, a real estate developer who helped raise $40,000 for Mr. Young at the nearby Hyatt Coconut Point hotel days before he introduced the measure.

Mr. Aronoff owns as much as 4,000 acres along Coconut Road. The $10 million in federal money would pay for the first steps to connect the road to Interstate 75, multiplying the value of Mr. Aronoff’s land.

A former aide to Rep. Young, Mark Zachares, has already pleaded guilty to bribery charges involving the lobbyist Jack Abramoff.

This is why bills that congress passes are pages upon pages of unrelated items, often earmarks that are in reality “favors” to the few who pay to play. This practice has got to stop.

source: New York Times: Campaign Funds for Alaskan; Road Aid to Florida, By DAVID D. KIRKPATRICK, June 7, 2007

Norwalk: If A Tree Falls In The Woods…

While the Norwalk Democrats are busy funneling their energy into alienating the centrist core of Norwalk voters. the Norwalk Republicans are making waves throughout the state. Most people would say that following the 2006 elections, the Republican party in Connecticut was dead. Let’s review the election from the Republican perspective:

Rell and Michael Fedele, were the only Republicans to win statewide office. Republicans lost seats in the legislature; Republicans number 44 of 151 in the House and 12 of 36 in the Senate. And then, they lost 2 congressional seats to Democrats, and came very close to losing a third.

But a funny thing happened on the way to defeat. The strong turnout of Norwalk Republicans last year likely handed Shays a victory. In 2004, Shays’ vote total in 2004 was 15426 and Farrell’s was 17720. In 2006 Shays’ vote total was 10727 and Farrell’s 11794. The falloff in totals is due to 2004 being a presidential year, where turnout is higher. But to see the difference, Shays only lost 31% of his 2004 vote while Farrell lost 40% of her 2004 Norwalk vote totals. (As a baseline Bob Duff lost who also ran in both elections only lost 23% of his 2004 vote in 2006.) The 2006 election for Republicans in the rest of the state was a bloodbath. While long time Republican incumbents in the legislature were knocked off, Larry Cafero survived a strong challenge and went on to become minority leader.

But Cafero is not the only prominent Norwalker to lead the Republican party. Bob Genurario, former State Senator is currently Rell’s Budget Director. You could say that Norwalk has the ear of Jodi Rell.

Not surprisingly, when the Courant covered the Prescott Bush Dinner, the state REpublican party fundraiser. This is what they had to say:

They accorded hero status to House Minority Leader Lawrence F. Cafero Jr., who pressured Republican Gov. M. Jodi Rell last month to back away from an income-tax increase she sought to fund greater aid for education.

Cafero and House Republicans offered a budget that could be balanced without a tax increase – a criticism of the Democratic majority’s tax plan, but one that also reflected on Rell.

On Thursday night, the GOP base signaled its approval at the Bush dinner, applauding louder for Cafero and Senate Minority Leader Louis C. DeLuca, who were introduced together, than for Rell.

Hero status? For a Norwalk Republican? Yet, Cafero’s work goes largely unnoticed in Norwalk. You have to read the Courant in order to see the daily efforts of Larry Cafero to make a difference up in Hartford. Getting the Governor to adopt the House Republican budget plan of no income tax increases should have been discussed more here in Norwalk, than a passing coverage of the issue from afar. Norwalk’s median household income is after all, right on the line where upstate legislators see wealthy. For example the Tax Foundation reports that Norwalk leads the nation in average income tax paid. According to the report; Norwalk avearges 22% of the AGI which turns out to be $41,496 in taxes. The number two area, Naples, FL is at 17.4% of the AGI and averages $16,849 in taxes.

State Republican party chair, Chris Healy is a fan. From The Courant:

“We’re picking ourselves up off the floor,” Healy said. “We’re a little bloody, and we’re looking for a fight.”

Cafero, 49, a lawyer from Norwalk, took over as House minority leader in January, determined to give his caucus a stronger identity.

He reshuffled his staff, hiring campaign consultant and former party Chairman George Gallo as his chief of staff.

“I think there was a culture of incumbency that Larry has successfully broken,” Healy said in an interview Friday. “We weren’t put here to stand around and take the crumbs the Democrats throw us occasionally.”

Cafero has said he and the governor are aware that their interests will not always coincide. As governor, Rell will have to compromise with the Democratic majority to pass a budget.

Healy, who was elected state chairman in January with Rell’s blessing, has the potentially awkward task of simultaneously defending the governor and Republican legislators when they are at odds.

He said Cafero, with his alternative budget, simply was trying to show “there was another way.”

“To her credit, the governor looked at it, saw the new [revenue] numbers,” Healy said. “She was open to a change in her tactics, but not her philosophy. She is still committed to her education idea.”

With the strength of the state Republican party coming from Norwalk, it looks like the upcoming municipal election will be one to watch. Will the Norwalk Democrats be able to maintain the majority on the Common Council and continue to set the city’s agenda through legislative control? Or will the Norwalk Republicans rally behind a newfound sense of purpose with setting the agenda for the entire state?

source: The Courant, GOP Lawmakers Develop Their Own Punch
Defying Democrats, Rell On Taxes Plays Well With The Party’s Base
, By MARK PAZNIOKAS, May 26, 2007

Earmarks and Blogging

Part of the art of blogging is finding things that people want to read about and better yet, talk about. So I often check other blogs for what is news in the blogsphere. Tonight I found a post by Weicker Liker on Connecticut Local Politics (CLP) which linked back to MyLeftNutmeg (MLN). And the comments following that post were less than happy over the post appearing on MyLeftNutmeg, which is an interesting reaction to what seemed to me a fairly interesting post. Roiling debates with people that have differing views is a good thing, but at MLN, it’s batten down the hatches time, and attack the dissenter. For me at least, I prefer the dissent and debate, it’s what makes watching the British Parliament way more interesting than watching C-Span. But I digress … the post for your review:

I noticed that Congressman Joe Courtney has pledged his unconditional support for the proposed $124.1 Billion Supplemental Spending Bill for operations in Iraq & Afghanistan

Through a written statement on Thursday, Courtney trumpeted his endorsement of the spending plan, describing it as one that “honors our troops” and serves as “a balanced compromise.”

To be fair, Courtney gets it right in standing behind our armed forces, giving the resources they need to be effective in Iraq and Afghanistan.

Its also admirable for him to have demonstrated his deep compassion for our injured soliders whose health care system has recently come under fire.

What’s disappointing, however, is Courtney’s blind support for a proposal that contains billions of dollars of our tax dollars for items unrelated to helping our troops. Its also terrible that he chose to support a deadline for withdrawl of our forces. That just gives the enemy a signal to lie low.

This “emergency” spending proposal represents everything that Democrats promised they would not be when they passed their “100 Hour Agenda”

Courtney promised us that he would be a different kind of public servant. He unfortunately appears he is falling in line with the misguided priorities of Speaker Nancy Pelosi.

The Democratic Caucus seems so bitterly divided over the Iraq War, they need to resort to putting “pork” in spending bills to hold their fractured caucus together.

Unfortunately, supplemental appropriations bills are exempt from spending caps and other budget controls, which makes them magnets for projects and programs that might not stand up to the scrutiny of the budget process.

Below is a list of spending and policy provisions in the supplemental that Courtney did not list in his press release and are unrelated to military operations.

*$500 million for emergency wildfires suppression; the Forest Service currently has $831 million for this purpose;

*$400 million for rural schools;

*$283 million for the Milk Income Loss Contract program;

*$120 million to compensate for the effects of Hurricane Katrina on the shrimp and menhaden fishing industries;

*$100 million for citrus assistance (2005 Homeland Livestock Indemnity Program) ;

*$74 million for peanut storage costs;

*$60.4 million for salmon fisheries in the Klamath River region in California and Oregon;

*$50 million for asbestos mitigation at the U.S. Capitol Plant;

*$48 million in salaries and expenses for the Farm Service Agency;

*$35 million for NASA risk mitigation projects in Gulf Coast;

*$25 million for Calfornia spinach growers;

*$25 million for livestock (2005 Hurricane Livestock Indemnity Program);

*$20 million for Emergency Conservation Program for farmland damaged by freezing temperatures;

*$16 million for security upgrades to House of Representatives office buildings;

*$10 million for the International Boundary and Water Commission for the Rio Grande Flood Control System Rehabilitation project;

*$6.4 million for House of Representative’s Salaries and Expenses Account for business continuity and disaster recovery expenses;

*$5 million for losses suffered by aquaculture businesses including breeding, rearing, or transporting live fish as a result of viral hemorrhagic septicemia;

*$4 million for the Office of Women’s Health at the Food and Drug Administration; and

*A minimum wage increase, which is the subject of separate legislation. (source: Weicker Liker )

Okay, Weicker Liker blames Courtney for the long list of earmarks. Probably not the issue here, since the problem is that these long lists of earmarks get tacked on the bills all the time. That’s why I’ve posted on the Read The Bills Act previously.

The New York Times wrote about this practice last fall, and noted:

Lawmakers nonetheless found room in the bill to pay for thousands of requests never sought by the Defense Department. These projects, or earmarks, included $2.1 billion for 10 additional C-17 Globemaster III cargo jets, which the Pentagon is trying to discontinue. They are made by Boeing in the home state of Senator Jim Talent, Republican of Missouri, who is locked in a tight race for re-election.

Lawmakers say earmarks can result in contributions to national security as well as to their districts’ economies. The Defense Department complains that such projects divert billions of dollars from programs the Pentagon considers vital. But both sides agree that earmarks’ merits are hard for Congress and the public to assess.

The number of earmarks has tripled over the last 12 years, straining the ability of Congressional staff members to vet each one. The opaque language of spending bills makes it hard for outsiders to know where the money for each project goes. And it is often impossible to know which lawmaker requested a specific project.

The total cost of earmarks is subject to debate. The House Appropriations Committee said the value of the “member projects” in the spending bill this time was $6.7 billion, down from $7.7 billion in the bill approved last year. The Congressional Research Service estimated the total cost of earmarks in last year’s bill at more than $9 billion. Taxpayers for Common Sense, a nonpartisan group, has identified well over 2,000 earmarks in this year’s bill, roughly on par with last year’s. (source: New York Times)

And then of course the November elections swept in Democratic control of congress. So why still the earmarks abundance? Jonathan Stein at Mother Jones has a possible answer:

Democrats Will End War in Iraq with… Pork?

With John Murtha’s plan to slowly end the war in Iraq mired in controversy and unable to get broad support, and the Democratic leadership’s plan to rewrite the 2002 authorization for war going nowhere, the Democrats have turned to a different tactic.

Loading a war spending bill with pork.

Seriously, that’s the best the Dems, who control both houses of Congress, can do. From today’s Washington Post:

While Democrats try to restrict how President Bush can spend the $100 billion he wants for Iraq, they also hope to load his measure up with $10 billion in add-ons…

Lawmakers from the Great Plains are pressing for about $4 billion in disaster aid for farmers suffering under drought conditions.

The California delegation is demanding help for citrus, avocado and other Central Valley farmers facing $1.2 billion in losses from a devastating January freeze.

And so on and so on. Mind you, the idea here isn’t to pump the bill so full of special interest spending that Bush has to veto it. No, the idea is to take advantage of the fact that Bush and Congressional Republicans would never have the cojones to stop a war spending bill, and thus push through a lot of favorite projects.

What? Seriously, what? Talk about having a tin ear. Didn’t the Democrats ride into Congress promising to end the march of bills swollen on earmarks and Republican pork barrel projects? Are they seriously proposing this right now?

There’s no good way to ferret out the earmarkers, and whether the congresscritters know what they are ultimately voting for. The Read The Bills Act is a good place to start.
Source: Mother Jones, Democrats Will End War in Iraq with… Pork?, by Johnathan Stein, March 3, 2007

source: New York Times, Earmarks Find Way Into Spending Bill, By DAVID D. KIRKPATRICK, September 30, 2006

Read The Bills Act

One of the great many things that always bothers me about Congress is that no one actually reads the final bills that are passed. Too often, language gets inserted that introduces completely unrelated provisions. Or something is added to chip away at the intent of the bill. Or earmark funds to something ridiculous.

So I am pleased to see some grassroots group out there funneling some energy into the Read The Bills Act. In addition to the requirement that Congress reads the bills it votes on, it also allows a provision to require a waiting period of 7 days after it is posted to the Internet, so that the public can go over the final proposed bill.

Check out further details here downsizedc.org.