As the Senate moves forward today with the newest version of the bailout bill (now being referred to as the “rescue plan”), Sunlight has been feverishly parsing the text of the new proposal, as provided by the Senate Banking Committee.

We have finished the first part of the bill, Division A, which is now posted for review and commentary on PublicMarkup.org.

If Congress released the data behind the bills they consider, in real time, at the same time as bills are released, then public review and processing would be much MUCH easier. (Details on what that would take are available in this chapter of the Open House Project report.)

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It looks like the Senate is moving forward today with a new bailout bill, which is available through the Senate Banking committee site.

A mirrored copy, and an embeddable version are both available below.

We’re working on parsing the legislation to get it up on PublicMarkup.org, but until Congress starts publishing bills in XML, parsing it is time consuming. Updates shortly.

Update 12:15 PM: Here’s the embedded version:

Get your own - Open publication

Update, 12:21 PM: Here’s a mirrored version of the PDF.

Update 1:05 PM: Also, for additional info, see the one page and section-by-section analysis posted to the Senate Banking Committee site here.

Update 1:52 PM: For the plan for Senate floor consideration, see the Senate Calendar here.

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The unexpected failure of the bailout proposal has given lawmakers and citizens a second chance to understand the details of this sweeping legislation.

You can join the Sunlight Foundation in renewing our call for all legislation to have at least 72 hours online before a vote. Without this minimal public exposure, how can lawmakers and their staff really understand legislation? What hope do citizens have of being truly represented if they can only read bills shortly before passage (or failure, as the case may be)?

We have refined our petition in light of this new opportunity for mindful consideration of the bailout legislation. To sign up, tweet to your friends, or read more details, check out our petition, or read our press release.

Congress responds to public pressure, and posting bills before votes is just common sense. Tell Congress to Read the Bill First! Sign our petition, and check out the latest versions of the bill at PublicMarkup.org.

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Today, the Sunlight Foundation is calling on Congress to exercise restraint, and give Members and the public sufficient time to read and respond to the proposed bailout legislation.

Citizens, irrespective of party identity, are deeply skeptical at the proposal.  If any legislation should be considered publicly, and carefully, the Emergency Economic Stabilization Act of 2008 should be considered with level heads and in full public view.

We’re happy to see Congress recognizing the public’s interest in this legislation, posting the text of the agreement as soon as a consensus plan was developed among congressional leadership.  Congress should take the next logical step, and hold off on floor consideration until a full 72 hours has elapsed after posting the bill.

As our just issued press release says:

But, before the bailout proposal is considered by lawmakers, it must undergo an even more important test: evaluation and assessment by Americans. That’s why we are calling on citizens to sign a petition to urge Congress to wait 72 hours between when the bill was first posted online and the actual vote. We believe all legislation should posted online for at least three days before a vote to give lawmakers and citizens sufficient time to review and debate it, and this bill is no exception. This isn’t a bill to rename a few courthouses; this bill is Congress’s biggest intervention in the economy in decades. This important legislation deserves more time for public scrutiny.

Sign the petition here, and tell Congress to read the bill first!

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