The "New Direction for Iraq Act of 2007" offers a comprehensive approach to a new policy for Iraq and can be summarized as follows:
- Sets out the goals of U.S. policy as supporting the Iraqi people, preventing greater violence, re-establishing U.S. international credibility and military readiness, and refocusing on real national security threats.
- Prohibits permanent U.S. military bases in Iraq, as well as U.S. control over Iraq's oil infrastructure and economic policies.
- Prohibits the escalation of the Iraq War, without specific Congressional approval.
- Requires the responsible redeployment of U.S. forces from Iraq to be completed within approximately one year.
- Redirects U.S. reconstruction funding from large contractors to Iraqi owned businesses to help create jobs in Iraq.
- Instructs the President to nullify contracts with any company that has not fulfilled an Iraq reconstruction contract and to recover lost funds.
- Encourages Congress to investigate and the Attorney General to aggressively prosecute war profiteering and fraud.
- Directs the President to begin a regional diplomatic effort, including direct negotiations with Syria and Iran, to promote stability in Iraq and seek to solve other outstanding regional issues, such a nuclear proliferation and support for terrorism.
- Supports a new effort at an Israeli-Palestinian peace agreement.
- Directs the President to seek a new United Nations resolution to support international cooperation in stabilizing Iraq.
- Requires the President and the Iraqi government to agree on performance benchmarks and conditions further support for the Iraqi government on the achievement of those benchmarks.
- Requires the appointment of a Special Envoy for Iraq Reconciliation.
- Authorizes additional funds for strengthening Iraqi civil society, including labor unions, environmental groups, and community organizations.
- Authorizes assistance to support a neutral international effort to disarm, demobilize, and reintegrate members of sectarian militias.
- Requires the development of country strategies to address the needs of Iraqi refugees.