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Wilson Calls for Oversight on Economic Rescue

Wednesday November 19, 2008

FOR IMMEDIATE RELEASE
November 19, 2008

CONTACT: Ryan Murphy
(202) 225-2452 (Office)
(202) 689-4825 (Cell)

Wilson Calls for Oversight on Economic Rescue

WASHINGTON – Congressman Joe Wilson (SC-02) issued the following statement today in response to reports that the oversight mechanisms outlined in the Emergency Economic Stabilization Act had yet to be fully implemented. Recently, he co-sponsored legislation that would not allow the Department of Treasury to spend the remaining $350 billion authorized under the Emergency Economic Stabilization Act without an explicit approval from Congress.

“The American people were rightfully skeptical about the federal government authorizing billions in taxpayer dollars to help unfreeze credit in our financial markets. Therefore, it was vital that when Congress acted that we ensured taxpayers were protected through transparency and accountability.

“The oversight mandated in the Emergency Economic Stabilization Act is vital to protecting taxpayers and the integrity of our system. It is unacceptable for this program to be implemented without the checks and balances that were written into the law. The law must be followed, and the economic stabilization program must be properly assessed before future funding is authorized. American taxpayers deserve nothing less.”

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