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I want to know why the struggling American taxpayer is getting stuck with the bill for rebuilding Iraq.
After all, the Iraqi government is expected to accrue more than $100 billion in oil revenues during 2007 and 2008. That's more than double the estimated $47 billion the United States Treasury has paid for reconstruction efforts since 2003.
The Iraqi government has a large surplus from oil sales. It has perhaps $30 billion in U.S. banks alone. It can and must do more to provide basic necessities, increased security, and a higher quality of life for its citizens.
For those reasons and more, I sent a letter to the Government Accountability Office earlier this month asking for a review of Iraqi oil revenues and reconstruction spending. The letter was cosigned by my colleague on the Senate Armed Services Committee, Republican Senator John Warner.
We want to know just how much money the Iraqi government has actually contributed to reducing the violence and rebuilding the country - and how much they have sitting unused in international banks.
The American people have paid an enormous price to attempt to secure and to start to rebuild Iraq. It's long past time for the Iraqi government to use its oil revenues to support these efforts.
Sincerely,
Carl signature
Carl Levin
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