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Congressional Record—Senate S2368

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Congressional Record—Senate S2368 S2368 CONGRESSIONAL RECORD — SENATE April 3, 2008 I look forward to a good debate on CONGRATULATING SENATORS (The amendment is printed in today’s this legislation. There will be amend- SHELBY AND DODD RECORD under ‘‘Text of Amendments.’’) Mr. DODD. Mr. President, let me, ments offered to take provisions out of Mr. MCCONNELL. Mr. President, let the bill. There will be amendments of- me begin this morning by congratu- first of all, begin by thanking the ma- jority leader, Senator REID, and the fered to put provisions in the bill. That lating my good friends Senator SHELBY Republican leader, Senator MCCON- is the way it should be. I would hope and Senator DODD for their great work that people would be willing to have in getting us to the point we are today. NELL. We would not be where we are at this moment without their leadership. relatively limited time. We wish to Of course, Senator GRASSLEY and Sen- So any discussion of where we are on move forward on this bill as quickly as ator BAUCUS were deeply involved in we can. that with regard to the tax portion of this matter begins with them and their At this stage, I have had a number of the bipartisan bill we have before us. I staffs for helping us organize the effort conversations with the Republican think this is a good start to the debate. over the last number of hours, begin- leader as to what we hope can be ac- I also say to my good friend, the ma- ning earlier this week, as we returned complished in this bill. I think at this jority leader, I think this is a good ex- from the 2-week Easter break, to try to time it is far too early to talk about ample of how we can work together and fashion together a proposal, at least on timelines and when, in fact, we are accomplish something on an important matters with which there was common going to get it done. We do know there issue for the country. We know now we agreement. As the leader has pointed out, there is an emergency out there and we need will have amendments on both sides be- are many matters here with which to do it as quickly as we can. I applaud cause that is the way the Senate oper- there is significant disagreement. They the bipartisan work, as I have indi- ates. It is my hope we can get to the are not part of the pending substitute. cated. I think we need to continue this end of the trail here in the very near Senator SHELBY and I and our respec- effort of bipartisanship. I think it is future and have a bipartisan bill we tive staffs, along with many others— critical to do this, to complete this ac- can all feel proud of. certainly the Finance Committee, be- tion on this important legislation, and I want to begin the debate by again cause there are portions of this that in an expedited manner. thanking Senator SHELBY and Senator are exclusively the jurisdiction of the DODD for getting us to this point. We I have not had the chance privately Finance Committee—have worked over look forward to moving forward as rap- to ask the Republican leader—and I the last 2 days to find those issues upon idly as possible. normally do not do this—but I will vio- which there was common agreement, late my own rules today and ask the f or at least levels of spending on which Republican leader if he could agree to a RESERVATION OF LEADER TIME there was common agreement, to move unanimous consent to provide for hous- forward on as the centerpiece, with the ing-related amendments only. The ACTING PRESIDENT pro tem- pore. Under the previous order, the full understanding our colleagues will The ACTING PRESIDENT pro tem- leadership time is reserved. offer various other ideas either to in- pore. The Republican leader. crease amounts of money or to add ad- f Mr. MCCONNELL. Mr. President, let ditional provisions to this bill. me say my expectation is that the NEW DIRECTION FOR ENERGY What is important here is we are fi- amendments that will be offered to the INDEPENDENCE, NATIONAL SE- nally working on this issue. As I point- bill will be housing-related, but I am CURITY, AND CONSUMER PRO- ed out earlier this week, we have close not in a position at the beginning of TECTION ACT AND THE RENEW- to 8,000 foreclosures a day occurring in the bill to enter into such a consent ABLE ENERGY AND ENERGY this country, not to mention, of course, agreement. I think there is a wide- CONSERVATION TAX ACT OF 2007 the residual effects spreading across spread feeling on both sides of the aisle The ACTING PRESIDENT pro tem- the economy of our Nation—the con- that we need to get an accomplishment pore. Under the previous order, the tagion effect affecting students loans, here, that we need to do it on a bipar- Senate adopts the motion to proceed to car loans, people who are current in tisan basis. But I am not in a position H.R. 3221, which the clerk will report. their mortgage but are watching the other than to say to my good friend The legislative clerk read as follows: value of their house decline because that is my expectation. I am not in a A bill (H.R. 3221) moving the United States their neighbor’s house is in foreclosure, position to agree to such a consent toward greater energy independence and se- watching home sales drop. This is in here at the outset of the bill. curity, developing innovative new tech- the midst of an economy that is stum- nologies, reducing carbon emissions, cre- bling along, to put it mildly, with a fis- The ACTING PRESIDENT pro tem- ating green jobs, protecting consumers, in- cal situation in dire straits. The dollar pore. The majority leader. creasing clean renewable energy production, has been weakened. Inflation is rising. Mr. REID. Mr. President, we have an and modernizing our energy infrastructure, Unemployment rates are increasing. extremely important hearing that is and to amend the Internal Revenue Code of Consumer confidence is at a low point, going to start at 10 o’clock or there- 1986 to provide tax incentives for the produc- tion of renewable energy and energy con- the lowest it has been in years. abouts, being conducted by the two servation. So it has been critical, in my view, managers of this bill. The assistant aside from the specifics which you will The ACTING PRESIDENT pro tem- leader, Senator DURBIN, has agreed to hear about over the coming days, that pore. The Senator from Connecticut. manage this bill until these two good we do everything possible to remind men can complete enough of their work AMENDMENT NO. 4387 the American people that in this body at the hearing to come back and man- (Purpose: To provide a complete substitute) Democrats and Republicans can come age the bill. Senator DURBIN is experi- Mr. DODD. Mr. President, I have an together to try to take intelligent enced, and he will handle things ex- amendment at the desk. steps to move against the flow of the tremely well, as well as anyone could I call up that amendment. economy heading in the wrong direc- do that. I appreciate his stepping in. He The ACTING PRESIDENT pro tem- tion. had his own schedule, and he set that pore. The clerk will report the amend- This proposal we bring to you as a aside to work on this bill. I appreciate ment. substitute this morning on behalf of that very much. The legislative clerk read as follows: myself and Senator SHELBY, along with The Senator from Connecticut [Mr. DODD], the leadership, is that first major step. f for himself and Mr. SHELBY, proposes an Is it the end game? Absolutely not. Are amendment numbered 4387. there ideas I would love to have had in- RECOGNITION OF THE MINORITY Mr. DODD. Mr. President, I ask unan- cluded in this bill? Absolutely. Are LEADER imous consent that reading of the there matters here the Senator from amendment be dispensed with. Alabama would like to have included The ACTING PRESIDENT pro tem- The ACTING PRESIDENT pro tem- or excluded? Absolutely. But we real- pore. The Republican leader is recog- pore. Without objection, it is so or- ized we were not going to be able to do nized. dered. that in this discussion over the last 2 VerDate Aug 31 2005 07:12 Apr 04, 2008 Jkt 069060 PO 00000 Frm 00002 Fmt 4624 Sfmt 0634 E:\CR\FM\G03AP6.004 S03APPT1 ccoleman on PRODPC75 with SENATE April 3, 2008 CONGRESSIONAL RECORD — SENATE S2369 days, that we needed at least to come GRASSLEY, who did very good and im- Tax provisions. Senator BAUCUS and up with a core group of issues around portant work in the Finance Com- Senator GRASSLEY worked out a pack- which there was general agreement, mittee over this same period of time, age of tax provisions as well. I will and then from that move forward. That the fruits of which are also reflected in mention them briefly and let them de- is the good news. the package that is now before us in scribe the provisions more fully them- A month ago, we had a cloture mo- the substitute. This package includes a selves. They include a home buyer tax tion on going to a housing debate.
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