Washington: US lawmakers on Sunday posted on the Internet their hastily-crafted draft legislation to rescue the country’s troubled financial sector, saying the unusual step was taken in the spirit of openness.
The full text of the bill, more than 100 pages, is available at the websites of House Speaker Nancy Pelosi - http://speaker.house.gov - and the website of the House Financial Services Committee - http://financialservices.house.gov - though due to high demand both sites were experiencing overload late on Sunday.
The draft bill, known as the Emergency Economic Stabilization Act of 2008, is online “for all Americans to see,” Pelosi told reporters.
Presenting the bill for public consumption so quickly after it was agreed is an unusual move that Democratic leaders hope will project a sense of transparency.
At the earliest the House of Representatives will vote on the bill on Monday, and the Senate on Wednesday, lawmakers said.
“When this bill passes and is implemented all of the transactions related to this legislation will be on the Internet within 48 hours,” said Pelosi.
“And that represents change,” she said, adding: “That transparency, that oversight will be very important to the health of our economy.”