S10744 CONGRESSIONAL RECORD — SENATE November 20, 2008 

Mr. CRAIG. Mr. President, the purpose of introducing this bill today is to 

start the process of granting the 

Burns-Paiute Tribe of Eastern Oregon 

land in trust. This is an opportunity to 

allow this tribe to become self-sufficient by producing a viable gaming operation. The project would be designed 

to have a minimal component tied to 

gaming with a much larger share of the 

development related to entertainment 

and tourism. One of the goals would be 

to develop activities and bring in components that enhance the overall 

Treasure Valley and southwest Idaho 

economic environment. The goal is to 

create new reasons for people to travel 

to the region and to work with local 

businesses to generate ongoing supply 

and support ongoing business opportunities. This legislation, should it be 

implemented, will create new jobs and 

provide an economic boost for eastern 

Oregon and western Idaho. 

By Ms. SNOWE: 

S. 18. A bill to improve the authority 

of the Special Inspector General 

charged with overseeing the Troubled 

Asset Relief Program, and for other 

purposes; to the Committee on Banking, Housing, and Urban Affairs. 

Ms. SNOWE. Mr. President, with the 

size and complexity of the Treasury 

Department’s efforts to administer the 

Troubled Asset Relief Program, TARP, 

which is unprecedented in recent U.S. 

history, it is essential to have a Special Inspector General, IG, who is focused exclusively on conducting effective oversight. When Congress passed 

the Emergency Economic Stabilization 

Act, I was proud to join Senator BAUCUS, as well as 31 of my other colleagues, to insist that the legislation 

direct the Treasury Secretary to appoint a Special IG as soon as possible. 

Notably, we tasked the Special IG with 

ensuring program transparency by collecting data on the Treasury’s actions 

and reporting regularly to Congress. 

One might say that the Special IG is 

the cop on the beat dedicated to protecting taxpayers’ interests. 

Many would argue that the Treasury’s current authority is almost completely unrestrained. There is a saying 

about what absolute power does to people and organizations, namely that absolute power corrupts absolutely. We 

must not allow unrestrained power to 

corrupt the Treasury Department’s authority or mission. It is essential that 

proper oversight exists so that the 

Treasury Department is held accountable for how it expends taxpayer dollars. 

A strong IG is even more critical now 

that the Treasury Department is directly injecting capital into banks, as 

well as potentially aiding other entities that provide consumer credit. The 

oversight requirements originally designed by Congress to scrutinize the 

purchase of toxic assets do not accurately or adequately describe the 

Treasury’s equity investments and, 

therefore, do not provide the strong 

taxpayer protections Congress requires. 

With the Treasury Department 

changing the plan day-by-day, there is 

growing market uncertainty about how 

best to address the economic crisis. 

The Treasury needs to inspire confidence. It must not follow Wall 

Street’s example and play fast and 

loose on the public’s dime. The bottom 

line is we must ensure the government 

respects the public’s money more than 

Wall Street ever did. That will be the 

Special Inspector General’s job. It is 

imperative then that the Special IG be 

adequately equipped with authority 

and resources to carry out this mission. 

On Monday, the Finance Committee 

held a hearing to consider the nomination of Neil Barofsky to be the Special 

IG for TARP. Mr. Barofsky has had a 

distinguished career as a Federal prosecutor investigating white-collar 

crimes, but regardless of how impressive his resume might be, he cannot 

succeed at his job if his hands are tied 

with inadequate authority and resources. At this hearing, I noted a 

number of concerns that I have with 

the authority, or lack thereof, given to 

the Special IG, and for this reason, I 

rise today, to offer legislation, the 

Troubled Asset Relief Program Inspector General Improvement Act, that 

will give the Special IG the teeth that 

he needs to provide the oversight that 

taxpayers deserve with their precious 

tax dollars at stake. 

Time is of the essence with the 

Treasury already having committed 

$290 billion without the Special IG’s 

oversight. We cannot afford any further delay in the office of the Special 

IG becoming operational. Accordingly, 

because the Emergency Economic Stabilization Act (EESA) did not specify 

the timing the Treasury Department 

must observe to transfer $50 million to 

the Special IG to set up his office, my 

legislation would direct the Treasury 

Secretary to provide the TARP IG with 

$50 million within three days after he 

is confirmed by the Senate. In addition, because the TARP IG must hire 

personnel to get up and running, my 

bill includes a proposal to waive applicable civil service rules that could 

delay that process. I am concerned that 

without this change, it may be summer 

before the TARP IG’s office is sufficiently staffed to discharge its responsibilities. 

Notably, EESA requires the TARP to 

address deficiencies that the Comptroller General identifies, or to certify 

to the appropriate committees of Congress that no action is necessary, but it 

places no similar requirement on the 

TARP regarding audit findings by the 

Special IG. My bill would place the 

same requirements on the TARP to address recommendations by the Special 

IG as are required by the findings of 

the Comptroller General. 

Additionally, now that the Treasury 

Department has changed course and decided to inject capital directly into financial institutions rather than purchase toxic and illiquid assets as originally contemplated, Congress must be 

sure that the Special IG has the authority to fully investigate any other 

type of transaction undertaken by 

TARP. Although many contend that 

the underlying statute provides the 

Special IG with the ability to investigate equity injections, with Treasury 

Secretary Paulson hinting that TARP 

may be expanded to benefit credit card, 

student loan, and car loan companies, 

and with the possibility that the incoming administration might enlarge 

the program further still in ways that 

we are not fully able to anticipate, it is 

imperative that the Special IG have 

the ability to conduct oversight over 

whatever way funds are ultimately expended. My legislation mandates that 

the Special IG can go wherever necessary to protect taxpayers. 

Last but not least, as there is tremendous concern in many quarters 

that financial institutions will use the 

$250 billion in equity injections they 

have been allocated pursuant to TARP 

to either purchase their weaker competitors or simply pay dividends to 

shareholders, I believe it is absolutely 

critical that the public understand exactly how these funds are being committed. Although I hope the funds will 

be used to promote lending, which is so 

critical to restoring economic growth 

and job creation, we must be sure that 

such lending occurs. Accordingly, my 

bill would require the TARP IG to prepare by July 1, 2009, an analysis for 

Congress of what exactly banks did 

with the $250 billion they have received. 

Finally, Mr. President, I would be remiss not to acknowledge similar legislation introduced yesterday by my colleagues Senators MCCASKILL, GRASSLEY, COLLINS, and LIEBERMAN. Although their legislation would speed 

the hiring process to allow the TARP 

IG to quickly begin operations, as well 

as allow the IG to investigate any initiative created as part of the program, 

it would not make some of the other 

changes I believe are absolutely vital. 

All that said, I hope that we can work 

together on a consensus, bipartisan 

package that can expeditiously clear 

the Senate. 

Mr. Prsident, I ask unanimous consent that the text of the bill be printed 

in the RECORD. 

There being no objection, the text of 

the bill was ordered to be printed in 

the RECORD, as follows: 

S. 18 

Be it enacted by the Senate and House of Representatives of the United States of America in 

Congress assembled, 

SECTION 1. SHORT TITLE. 

This Act may be cited as the ‘‘Troubled 

Asset Relief Program Inspector General Improvement Act’’. 

SEC. 2. FUNDING OF THE OFFICE OF THE SPECIAL INSPECTOR GENERAL. 

Section 121(g)(1) of the Emergency Economic Stabilization Act of 2008 (division A of 

Public Law 110-343) is amended by inserting 

before the period at the end the following: ‘‘, 


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November 20, 2008 CONGRESSIONAL RECORD — SENATE S10745 

not later than 3 days after the date on which 

the nomination of the Special Inspector General is first confirmed by the Senate’’. 

SEC. 3. OBLIGATION TO RESPOND TO AUDITS. 

Section 121 of the Emergency Economic 

Stabilization Act of 2008 (division A of Public 

Law 110-343) is amended— 

(1) by redesignating subsections (f), (g), and 

(h) as subsections (g), (h), and (i), respectively; and 

(2) by inserting after subsection (e) the following: 

‘‘(f) CORRECTIVE RESPONSES TO AUDIT PROBLEMS.—The Secretary shall— 

‘‘(1) take action to address deficiencies 

identified by the Special Inspector General 

or other auditor engaged by the TARP; or 

‘‘(2) certify to appropriate committees of 

Congress that no action is necessary or appropriate.’’. 

SEC. 4. ADDITIONAL OVERSIGHT MECHANISMS. 

Section 121(c)(1) of the Emergency Economic Stabilization Act of 2008 (division A of 

Public Law 110-343) is amended by striking 

‘‘purchase, management’’ and all that follows through ‘‘including’’ and inserting ‘‘activities of the Secretary in the expenditure 

or obligation of funds under this title, including’’. 

SEC. 5. REPORTING REQUIREMENT. 

Section 121(g) of the Emergency Economic 

Stabilization Act of 2008 (division A of Public 

Law 110-343), as so designated by this Act, is 

amended— 

(1) by redesignating paragraphs (2) and (3) 

as paragraphs (3) and (4), respectively; and 

(2) by inserting after paragraph (1) the following: 

‘‘(2) Not later than July 1, 2009, the Special 

Inspector General shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report analyzing the use of any funds 

received by a financial institution under the 

TARP.’’. 

SEC. 6. PERSONNEL AUTHORITIES. 

Section 121(e)(1) of the Emergency Economic Stabilization Act of 2008 (division A of 

Public Law 110–343) is amended— 

(1) by inserting ‘‘(A)’’ after ‘‘(1)’’; and 

(2) by adding at the end the following: 

‘‘(B)(i) Subject to clause (ii), the Special 

Inspector General may exercise the employment authorities of subsections (b) through 

(i) of section 3161 of title 5, United States 

Code (without regard to subsection (a) of 

that section). 

‘‘(ii) In exercising the employment authorities under subsection (b) of section 3161 

of title 5, United States Code, (as provided 

under clause (i)) the Special Inspector General may not make any appointment on or 

after the date occurring 1 year after the date 

of the first confirmation of a nomination for 

the Special Inspector General.’’. 

By Mrs. CLINTON (for herself 

and Mrs. MURRAY): 

S. 20. A bill to prohibit the implementation ’or enforcement of certain 

regulations; to the Committee on 

Health, Education, Labor, and Pensions. 

Mrs. CLINTON. Mr. President, as this 

session comes rapidly to a close, my 

colleague Senator MURRAY and I are introducing critical legislation to suspend the Bush administration’s latest 

attempt to put ideology before women’s health. The rule being proposed by 

the administration would limit patients’ access to basic reproductive 

health care services and information. 

The Protecting Patients and Health 

Care Act would prevent HHS from implementing this ill-conceived, midnight 

regulation. 

As you know, Senator MURRAY and I 

have been speaking out against this 

rule since July. The rule, as it was 

then proposed in August by the Department of Health and Human Services, is 

a serious threat to patients’ access to 

information and care. 

Then in September, Senator MURRAY

and I had a very frank conversation 

with Secretary Leavitt about how this 

rule could create a slippery slope leading to patients being denied access to 

contraception and other important information or care. However, despite the 

important concerns we raised to the 

Secretary, the New York Times reported this past Monday that in the 

coming days, HHS plans to release a 

final regulation that would undermine 

women’s health. 

I am hopeful that my Senate colleagues from both sides of the aisle will 

join me today in supporting this important piece of legislation to protect patients’ rights and health care. 

By Mr. REID (for himself and Mr. 

HARKIN): 

S. 3709. A bill to amend the Farm Security and Rural Investment Act of 

2002 to expand the Rural Energy for 

America Program to include schools in 

rural areas; to the Committee on Agriculture, Nutrition, and Forestry. 

Mr. REID. Mr. President, today I am 

introducing legislation, along with my 

colleague Senator HARKIN, to create 

opportunities for schools, located in 

rural communities across this country, 

to compete for grants and loans to purchase energy systems or make energy 

efficiency improvements. 

The recently passed Farm Bill authorized roughly $1 billion in mandatory spending for renewable energy 

programs. One of those programs is 

The Rural Energy for America Program, REAP. This program provides 

loans, loan guarantees, and grants to 

agricultural producers and rural small 

businesses to invest in energy saving 

improvements to their current energy 

systems or to purchase renewable energy systems. Examples include purchasing or replacing equipment with 

more efficiency units, such as lighting 

or insulation, or the wholesale installment of energy projects that produce 

energy from wind, solar, biomass, geothermal, and hydrogen-based sources 

to produce any form of energy including, heat, electricity, or fuel. 

My legislation would authorize an 

additional $100 million over 5 years for 

these grants and in effect expand the 

scope of the program, allowing it to 

better meet the needs of rural communities and creating important incentives for institutions to invest in renewable technology. It is my hope that 

Congress will support this legislation 

and its goal of helping rural communities play a key role in our Nation’s 

energy future. 

Mr. President, I ask unanimous consent that the text of the bill be printed 

in the RECORD. 

There being no objection, the text of 

the bill was ordered to be printed in 

the RECORD, as follows: 

S. 3709 

Be it enacted by the Senate and House of Representatives of the United States of America in 

Congress assembled, 

SECTION 1. RURAL ENERGY FOR AMERICA PROGRAM. 

(a) IN GENERAL.—Section 9007 of the Farm 

Security and Rural Investment Act of 2002 (7 

U.S.C. 8107) is amended— 

(1) by striking ‘‘and rural small businesses’’ each place it appears and inserting 

‘‘, rural small businesses, and rural schools’’; 

and 

(2) in subsection (b)(6) and (c)(3)(A), by 

striking ‘‘or rural small business’’ each place 

it appears and insert ‘‘, rural small business, 

or rural school’’. 

(b) DEFINITION OF RURAL SCHOOL.—Section 

9007(a) of the Farm Security and Rural Investment Act of 2002 (7 U.S.C. 8107(a) is 

amended— 

(1) by redesignating paragraphs (1) and (2) 

as subparagraphs (A) and (B), respectively, 

and indenting appropriately; and 

(2) by striking ‘‘The Secretary’’ and inserting the following: 

‘‘(1) DEFINITION OF RURAL SCHOOL.—In this 

section, the term ‘rural school’ means a 

school in a rural area (as defined in section 

343(a) of the Consolidated Farm and Rural 

Development Act (7 U.S.C. 1991(a))). 

‘‘(2) ESTABLISHMENT.—The Secretary’’. 

(c) MANDATORY FUNDING.—Section 

9007(g)(1) of the Farm Security and Rural Investment Act of 2002 (7 U.S.C. 8107(g)(1) is 

amended— 

(1) by redesignating subparagraphs (A) 

through (D) as clauses (i) through (iv), respectively, and indenting appropriately; 

(2) by striking ‘‘Of the funds’’ and inserting 

the following: 

‘‘(A) IN GENERAL.—Of the funds’’; and 

(3) by adding at the end the following: 

‘‘(B) FUNDING FOR RURAL SCHOOLS.—In addition to amounts made available under subparagraph (A), of the funds of the Commodity Credit Corporation, the Secretary 

shall use to provide assistance to rural 

schools under this section, $20,000,000 for 

each of fiscal years 2009 through 2013, to remain available until expended.’’. 

Mr. HARKIN. Mr. President, today I 

am proud to cosponsor this legislation 

to expand the Rural Energy for America Program, REAP, to include schools 

in rural areas. This amendment to the 

program will encourage our rural 

schools to carry out energy efficiency 

projects and install renewable energy 

systems, thus reducing their dependence on fossil energy and reducing future energy costs. I am proud to join 

my colleague, Senator REID of Nevada, 

as a cosponsor of this bill. 

The Rural Energy for America Program, enacted in the 2008 farm bill—the 

Food, Conservation, and Energy Act of 

2008—is an expansion of the very successful section 9006 program which was 

established by the 2002 farm bill. The 

program has supported over 2,000 renewable energy and energy efficiency 

projects for farmers, ranchers, and 

rural small businesses since its enactment. Most impressive is the fact that 

the Federal investments in these 

projects were matched by almost 10 

times as much in funding from the developers of the projects and other 

sources. This truly is a hallmark of a 


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