How to Stop Lobbying in Conference Committee

The House-Senate financial reform conference committee is gearing up, with the House due to name its members some time next week and the process due to be done by July 4. But the negotiations to merge the House and Senate versions of the financial regulation bill — under intense lobbying efforts already — will happen mostly behind closed doors. Rep. Barney Frank (D-Mass.), the head of the conference committee, has said that he will allow C-SPAN to air only final-stage negotiating and voting. Today, Simon Johnson has commonsense recommendations to keep some sunlight on the process, in The New York Times.

1. Any amendments need to be posted online not less than three business days before any relevant conference meeting. Second-degree amendments (that is, amendments to amendments) need at least two days’ notice on the same basis.

2. The House and the Senate will not discuss any conference report until the report as amended by the conference has been posted online in its entirety for at least five business days.

3. A red-lined version of the conference report as amended — making all changes visible — must also be posted online for not less than five business days before any vote on that conference report.

The fundamental idea is to allow more voices into the process — to give time for public debate to influence the private debate. And I think it is a good one.