This chart to compares the original Paulson proposal to the final product that passed through the Senate and House. I fought for the removal of "golden parachutes" for CEOS, the proposed ACORN provisions, and the creation of an oversight committee for this rescue plan.

PROVISION	PAULSON PLAN	HOUSE/SENATE PASSED LEGISLATION
Distribution of Funds	One “lump sum” payment of $700 billion	Funds distributed in stages, with a primary approval for purchasing $250 billion in assets.  The Department of Treasury and the President (with Congressional oversight) would have to provide certifications for the distribution of additional funds.  The Office of Management and Budget (OMB) has stated that this plan will cost significantly less than $700 billion.  Furthermore, the government is expected to make some of its money back when the securities originally purchased by the government are sold.
Insurance Program	None	Requires the establishment of an insurance guarantee program that in lieu of purchasing assets with taxpayer funds is available to insure assets at no cost to the taxpayer.  Costs would be fully paid for by participating companies (i.e. those receiving the assistance).  Assets insured by the program would count against the total funds the Secretary would otherwise have available to make purchases.
Oversight	None	Establishes an Inspector General (with a $50 million budget) and Oversight Board to oversee the distribution of funds.
Transparency	None	Requires the Secretary to make information regarding each purchase available to the public in an electronic form, including a description, amounts, and pricing of such assets.  The bill also requires the Secretary to make public the mechanisms for purchasing troubled assets, the methods of valuing assets, the process for hiring asset managers, and the criteria for identifying troubled assets for purchase.
Deposit Insurance	None	Increases the amount of deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration from $100,000 to $250,000
AMT “Patch”	None	Includes a one year AMT “patch,” which would prevent a $64 billion tax increase of 21 million taxpayers.  Without action, 21 million middle-class families will be hit with an average tax hike of $2,500.
States sales tax deduction for Florida	None	Provides for a one year extension of the state sales tax deduction, which allows residents of Florida to deduct sales tax since the state doesn’t impose an income tax.
Recouping lost funds	None	If the government loses money as a result of purchasing any assets, the President is required to submit a proposal to recoup funds from firms that have participated in the program.
Elimination of “golden parachutes”	None	Prohibits “golden parachute” payments, establishes limits on executive compensation for taking unnecessary and excessive risk, and a process for recouping any incentive payments made to “senior executives” (top 5 executives of a public company) based on earning statements later proven to be materially inaccurate.

To ensure this critical economic rescue bill did not become a vehicle for partisan politics, special interest demands were removed from consideration.  The legislation DOES NOT include provisions that would provide:

• Political organizations, such as ACORN, to receive 20 percent of the revenues from the program.

• Labor unions proxy access to financial companies.

• A seven-member oversight board with five Democrats and only two Republicans. The legislation is now truly bipartisan with an equal number of Democrats and Republicans.