5068 EXTENSIONS OF REMARKS March 8, 1981, EXTENSIONS OF REMARKS
BROYHILL URGES LEGISLATIVE REMARKS OF THE HONORABLE JAMES T. Meaningful congressional review of regu VETO ALTERNATIVE FOR REG BROYHILL BEFORE THE COMMIT'l'EE ON RULEs lations, which would have a substantial ULATIONS I would initially like to thank the chair impact on the economy, is best accom man and members of the committee for the plished by means of an approval process. opportunity to testify this morning on the Regulations which could lead to a substan HON. TRENT LOTI response of Congress to the Supreme tial increase in costs for consumers, or could Court's ruling in Chadha. It is a pleasure to have an adverse effect on competition. the OF MISSISSIPPI be here. environment, or the public health or safety IN THE HOUSE OF REPRESENTATIVES The urgent need for comprehensive regu are properly within the purview of Con Thursday, March 8, 1984 latory reform legislation is something we all gress, as lawmakers. to review and approve. recognize. As the Federal bureaucracy con Under this type of approach, a regulation tinues to grow, so does the number and com is treated as a "recommendation" of the • Mr. LOTT. Mr. Speaker, last plexity of Federal regulations. It is estimat agency, developed after careful consider Wednesday, February 29, our distin ed that the cost of Federal regulation on ation by the agency with expertise in the guished colleague from North Caroli the economy amounts to more than $100 area in question. Congress would still be uti na
e This "6ullet'' symbol identifies statements or insertions which are not spoken by the Member on the floor. March 8, 1984 EXTENSIONS OF REMARKS 5069 lish the status quo that existed before veto One topic that will be discussed and exam more years of happy, useful activity. was found to be unconstitutional. ined at length today is the appropriations The weather may continue to be the Now that the President must necessarily process. As I stated on the floor during the same around Mobridge, but we will be be involved in the legislative review process, special order on legislative veto, in June, an approval device more closely tracks what 1983: missing something when the Halls a disapproval device previously accom "Without the authority to reverse execu stop reporting it. Thank you for your plished-placing Congress in control of the tive decisions on agency rulemakings, Con years of service. review of regulatory activities. gress could well become increasingly frus The article follows: Under H.R. 3939, regulations which are trated with their lack of ability to ensure Stand beside the river at Mobridge, S. not of the "major" type can take effect, that congressional intent is followed Dak., most any day-summer or winter-and unless Congress acts to disapprove them through the use of limiting language on ap chances are you'll see Winston Hall, at 75, within a specified time frame. These regula propriations measures. The House rule holding his rendezvous with the wide Mis tions would have, by definition, less of an which makes this avenue of approach prac souri. From spring, when the ice breaks up, impact on the economy, consumers or the tically impossible may well become a deeply until winter, when it freezes, Winston environment. Again expedited procedures regretted one by its proponents." swims. Here the water is clear and cold are included to ensure the timely consider H.R. 3939 addresses this problem. As you winding its way from the high country of ation of disapproval resolutions. In the con know, the current House rule prevents the Wyoming and Montana to its meeting with text of a disapproval procedure, expedited offering of limitation amendments to appro procedures are key to a smooth and effi priations bills, unless a motion to rise from the Gulf of Mexico in South Louisiana. In cient review process. the Committee has been defeated. H.R. 3939 Winter Winston skates-often four or five Some criticism has been voiced that the would amend this rule to permit such miles a day. generic review procedure for all agency reg amendments with respect to nonmajor rules An uncommon routine by an uncommon ulations will impose a large workload on which have not been considered by the man. But not out of character. People here Congress. The answer to this criticism is House or which have been considered but are pioneers, with a history of heartiness threefold. the resolution had not been enacted into and a spirit of accomplishment. They adapt First, a hybrid scheme, such as that con law within the specified review period. ed as they came; and they assumed rugged tained in H.R 3939, will not impose an un Using the appropriations route would be a ness and attitudes to match the country. workable burden since affirmative action by "last resort" under H.R. 3939. This proce It was the Dakotas that attracted the Congress would only be required for those dure expressly defers to the authorizing Halls-Winston's parents. They knew people regulations which would have a substantial committees and protects the proper input of already there, and they came from England impact. It has been estimated that roughly the Senate and the President. to settle near their friends in this brand new 50 major rules are issued a year by inde In general, Mr. Chairman, I believe legis land of untold opportunity. It was 1911, pendent and executive agencies. All other lative review and regulatory reform provi Winston was 2¥2; the Indian lands were regulations will take effect without congres sions contained in H.R. 3939 to be, on bal opened to white settlers; and a newly built sional action. ance, not only a sensible and workable ap railroad bridge spanned the river. When a regulation has the potential of proach, but also one that responds well to They first came to Philadelphia and their having a substantial effect on the economy, the void left by the Chadha decision. South Dakota friends met them. They trav Congress, in carrying out its constitutional I am hopeful that it will be considered by elled together, by rail to Sioux City, Iowa, ity prescribed legislative responsibilities, the Congress expeditiously. then by wagon from Sioux City across the should have a significant role to play in de Thank you.• Indian territory to Mobridge. Winston re termining that regulation's effectiveness. members. And those first impressions were Second, absent a legislative review device, indelibly written in his mind. The thunder Congress would be saddled with the endless WINSTON AND JOSEPHINE and lightning were so intense! Much more task of designing legislation which sets HALL-THEY WEATHERED THE violent than he'd known in England. forth specific and detailed policy directives STORMS AND THEN REPORTED "It was indeed a lustier land to which the to regulatory agencies. Such an alternative THEM settlers had come," says Sauer, as he wrote makes no use of the developed expertise of about the settlements in North America, "A the agency and transforms Congress into land of hotter summers and colder winters, the regulator. HON.THOMASA.DASCHLE of brighter r.nd hotter sun and more tem Third, section 301 of H.R. 3939 creates a OF SOUTH DAKOTA pestuous rain." Such could be said about regulatory review calendar in the House IN THE HOUSE OF REPRESENTATIVES Dakota. providing for the orderly consideration of Thursday, March 8, 1984 Many were afraid, and they stayed approval and disapproval resolutions. behind. The land was too level; there were Mr. Chairman, my remarks here this e Mr. DASCHLE. Mr. Speaker, only too few friendly trees; and the shade and morning have focused primarily on the need rarely these days does a story about water too scarce. or a quick congressional response to the The adventurous, the curious, the hearty Chadha decision. As important as this is, a human dedication, perseverance, and steadfastness reach us like the one I eased into it. They followed the familiar legislative review device such as the approv rivers, searched out the openings, and built al mechanism, will not be, in and of itself, wish to share with my colleagues enough. There is still an overriding need for today. It is a story about Winston and their homes. They adapted. Houses were comprehensive regulatory reform legislation built of sod instead of logs; cow chips and Josephine Hall, two longtime residents twisted grass fueled the fires; and wells were to ensure full agency accountability and re of Mobridge, S. Dak., who, for the past sponsiveness. The Chadha decision came at dug with pick and shovel. a time when the momentum in Congress to 42 years, while working, respectively, In all probability, they didn't come to act on regulatory legislation was ever in in the Postal Service and in the local farm. They expected to make money in creasing. That urgency continues to exist. newspaper, have also, eight times a almost any other way but farming. The It is well recognized that the reform of in day, every day for those 42 years, threat of starvation, however, made farming ternal agency procedures for rulemaking, faithfully recorded weather conditions a necessary but unplanned adaptation. and the enactment of such reforms into in the Mobridge area and transmitted There are great extremes, most certainly. statutory law, will improve the wisdom of them to the National Weather Service. It gets hot in Mobridge-hitting the 100- the regulatory end product. Winston, at age 75, now feels that it degree mark plenty of times; and it gets H.R. 3939 does much to accomplish that cold-often dropping to minus-20. Usually goal. It requires agencies to conduct regula is time to ease up, so he and Josephine it's windy. tory analyses of major rules and the alter will, after this winter, no longer be re Weather isn't just a topic of conversation. natives which were considered. This will cording the weather. But a tribute to It's life-giving and it's life-taking. It de help to ensure that the most cost effective them has been written by Don Whit mands a healthy respect at least. approach is selected. H.R. 3939 requires man of the National Weather Service, They came to Mobridge where the river is agencies to publish a semiannual regulatory which fully outlines the dedication of wide. Here it bends gently around the city agenda listing rules it intends to promul these two remarkable people. I would now home for nearly 5,000 people-before gate, amend or repeal. Provisions are also flowing into Oahe Lake, one of the many included in the bill which provide for sys like to Join the National Weather stop-go-stop-go reservoirs on the upper Mis tematic review of existing regulations by Service and the citizens of Mobridge in souri. agencies, and make reforms to the rulemak offering my sincerest admiration and On the other side-the west bank-lie the ing process to provide greater notice and op deepest appreciation to these two won Standing Rock and Cheyenne River Indian portunity for public comment. derful people, and wish them many Reservations-and the grave of Sitting Bull. 5070 EXTENSIONS OF REMARKS March 8, 1981, It is here the High Plains begin. Really Josephine had already recorded 37 below in ual values. They have fostered unity and begin. And here, weather is the starting sub 1943 when Winston was away. stability in our families, which are the cor Ject in lots of conversations. Physiologists Then-Christmas Eve, 1982-a perturba nerstone of American life.e say the climate is healthy, that it forces the tion in the flow of life: Right after Winston body to exercise its natural powers of adap finished the 9 p.m. observation, a heart tation. Maybe so. And maybe people, like attack! A fast trip to Bismarck for help! The REMARKS OF BRUCE C. VLA water flowing through subterranean strata, midnight observation was missed that night, DECK, PRESIDENT, UNITED assume the characteristics of their sur but by 3 a.m., the data was flowing again. HOSPITAL FUND OF NEW roundings. Josephine saw to it, and once more kept the YORK, BEFORE THE NEW As the years came and went, the boy, watch while Winston was away. Winston, became a man. Some times were The bypass surgery was successful, and by YORK CITY CONGRESSIONAL good-others not so good. It was during a mid-January, Winston was back home, DELEGATION not-so-good-time in 1939 that Winston and taking observations. brother, Willis, began taking weather obser But then it was time to ease up. After 42 HON. CHARLES B. RANGEL vations for the 31-Q59 Q-87-25 (Pt. 4) 5076 EXTENSIONS OF REMARKS March 8, 1984 New Jersey because he is wrestling said Rochford, hiinself a wrestling official. who are working to make the Statue with the problems of life in more ways "We in the physical education department of Liberty and Ellis Island barrier free. than one. Because he was born with have a deep sense of appreciation for the The committee has just completed feet where his knees should have been, handicapped. They are no longer pushed aside. Wrestling is a great sport for the their recommendations which will Brooks is a double amputee. However, handicapped and after Sykes (Tom Sykes of allow people like Ron Brooks and Phil it has not stopped him from being a Red Bank Catholic, an amputee who won a Carpenter and George Murray to visit member of the Green Dragon Junior state championship in 1974) the novelty has America's historic shrines which stand Varsity wrestling team at Brick Town worn off. for freedom in all areas. ship High School in Ocean County. "As for Ronny, he's just a tough person to This committee is now undertaking Ron's accomplishments have been dislike. He is a great supporter of sports the job of making similar recommen referred to me by a Jersey City native, with tremendous school spirit." dations on Ellis Island in time for the Michael F. Vuocolo, who is among the Brooks made his debut in a Brick Town ship uniform Dec. 16 at the Neptune Clas 100th anniversary of our fair lady in thousands of readers of the following the harbor, which will be in 1986. article by Joe Zedalis, Asbury Park sic. In his first varsity match, wrestling at 98 One of the poignant recommenda Press staff writer, which appeared in pounds he was pinned by Todd Thompson tions made by the committee was to the paper on .January 31, 1984: of Manalapan. have a 5-foot replica of the Statue of WRESTLER STRIVES FOR IJIFE AS JUST "ONE OF And as he left the mat, Brooks received a Liberty in the lobby so that the blind THE GUYS" hearty round of applause from the fans in could feel the features and outline of There are many things Ron Brooks could attendance. this shrine that they could not see. ask for. Many requests he could make. "I thought to myself for a second, what He has just one simple want in life-to be are these people clapping at?" Brooks ex Ron Brooks has earned the salute of treated like anyone else. plained. "For a second I thought, gee, I go those who know him and love him in Yet in many instances it is a request that out on the mat like everybody else. And I New Jersey and Buckingham, Pa. Now will go unfulfilled. wonder to myself what is it, are they clap he will be known to the hundreds of Ron Brooks is a special person. And not ping for me or for somebody that has no thousands of individuals who will have just because of the birth defect that left legs?" contact With this CONGRESSIONAL him with only the upper third of his legs. "I try to wrestle to the best of my ability RECORD. But, at least on the wrestling mat, Brooks and it can be very difficult at times," he ad Ron Brooks is determined to make gets his wish. He is an equal. He is admired mitted. "My leverage on the mat is some by his comrades and adversaries because of times at a very poor quality because I only it. He is an individual with high ideals what he can do, and not what he can't. have my hands to wrestle with. My legs, I which are best described in the few Brooks was born with his feet where his can't use." lines written by Carl Schurz: knees should have been. A decision was Brooks recorded his first win as a Green Ideals are like stars. You will not succeed made later to amputate the feet to allow the Dragon Dec. 7 on the junior varsity level. in touching them with your hands; but, like use of prosthetic devices. Wrestling against Long Branch, Brooks won the seafaring man, you choose them as your Brooks uses artifical limbs and a wheel guides, and, following them, you will reach chair to rr:aneuver around school and home, by forfeit. where he is under the guardianship of Rich "It was my first win but I was disappoint your destiny. ard -and Marie Froumy. ed that it was a forfeit," Brooks said after Ron Brooks has the courage out During practice sessions and matches, ward. "I really wanted to wrestle pretty lined by Ralph Waldo Emerson when however, he uses his hands to propel his badly." Naturally, his arsenal of moves is some he wrote: body. Have the courage not to adopt another's "His disability does not get in his way at what limited because of the leverage he mentioned earlier and balance. courage. There is scope and cause and resist all," said Brick head wrestling coach Tom ance enough for us in our proper work and Webber. "He participates as hard as every "I love to hit the cradle," he said proudly. one else. He's a very proud boy." "I really love that cradle." circumstance. And it is the fact that Webber informed "The important thing is that I enjoy Ron Brooks has the courage out Brooks prior to the season that he would re myself. If you're not enjoying it when you lined by Winston Churchill when he ceive no special treatment in the wrestling go out on the mat you'll destroy yourself." wrote: "As important as winning and losing is to room that made the 17-year-old junior hap Courage is the first of human qualities be piest of all. Ronny, participating is the big thing," Webber explained. "He may not be the cause it is the quality which guarantees all "All I ask for is basic understanding," the others. Brooks said. "I don't want people to feel greatest wrestler, but he's one heck of a sorry for me. If I want anyone to feel any human being." He has the character expressed by thing for me, I want people to feel proud Since I have been in Congress I have Henry Frederic Amiel, who said: that they could have me wrestle for them, been more exposed to the problems of It is not what he has, nor even what he with them. those who are handicapped or disabled does, which directly expresses the worth of "I love wrestling. It's the only sport I can a man, but what he is. participate in other than wheelchair basket and are striving so much to remove ball. But I've faced the fact that I'm not a the obstacles that they have been He has the determination of John great basketball player in a wheelchair. I'm forced to carry. Fico, who wrote: working at it though." About 2 years ago at 4 a.m. outside Dear God, That desire to work has made him a real the White Castle restaurant in Jersey The little plans I tried to carry through part of the team at Brick High School. City, I met two young men who were Have failed "He"ll do things until I ask him to stop," wheeling their way across the United I will not sorrow Webber explained. "The other day we were States in a program during Interna I'll pause a little while, running in the hallways. He took off on his tional Year of the Handicapped. The Dear God, hands and went as far as he could." And try, again, tomorrow. "We're pleased to have him here," Webber program called Continental Quest had added. "He's a real inspiration and he gets the wheelchair users propel their He has faith because he believes the along real well with everyone." chairs over hills and dales and most important thing is in the depth Brooks transferred to Brick High School through America's mountains and val of his being, which keeps him going in from Central Bucks High School East in leys to prove that they could travel face of untoward circumstances. Buckingham, Pa. under their own capacity from the Pa He has the thankfulness as ex Upon his enrollment at Brick, Dave cific to the Atlantic Oceans. pressed in the art of thanksgiving in Vivino, a former football coach who is the These two men, Philip Carpenter the words of Wilfred Peterson: chairman of the guidance department, in formed athletic director Jim Rochford of and George Murray, have both earned In thanking God for inspiration by trying Brooks' interest in wrestling. Rochford then my salute. Their accomplishments to be an inspiration to others and living relayed the message to Webber. came to my attention again when I each new day to the fullest. "I sat down with Ron and started talking was asked to serve last year with a Most of all, Ron Brooks as a member about wrestling and he was really excited," committee of interested individuals of his high school wrestling team has March 8, 1981, EXTENSIONS OF REMARKS 5077 experienced the achievement ex THE GAS BILL REBELLION: FIRED UP OVER million signatures gathered one by one pressed by Booker T. Washington, DECONTROL when local coalition members went door to who wrote: 31-059 0-87-26 (Pt. 4) 5108 EXTENSIONS OF REMARKS March 8, 1984 leave school," according to Eve Hen Down's syndrome indicated that their border regions today and the admitted dricks, "with a stronger sense of self!' development plateaued by age 5. failure of the Federal Government to Judith Berman Brandenburg, associ The past 15 years, however, have prevent illegal immigration. ate dean of Yale College, has a differ brought a revolution in terms of dis There is another reason that we ent vantage on the importance of title covering the potential for individuals have introduced this legislation. This IX. Since passage of the law, Yale has with Down's syndrome. Extensive bill already has been agreed to by the established a committee which revised medical advances have enabled treat Congress. In the Supplemental Appro the university's grievance procedures ment of many of the physical prob priations Conference Report on Labor, and wrote separate procedures for lems associated with the condition, Health and Human Services, and Edu cases of alleged sexual harassment. As and infant stimulation programs being cation, the Congress approved $30 mil title IX coordinator for Yale College, taught to new parents of babies with lion for funding for school districts Dean Brandenburg has received more Down's syndrome, have increased in with children of undocumented aliens than 200 requests for copies of Yale's tellectual development far beyond pre in attendance. However, the adminis new grievance documents to be used as vious expectations. tration, with its "new emphasis on a model by other institutions. This resolution would be an ex education," is trying to block this Title IX, according to Dean Bran tremely important step forward for funding. In fiscal year 1984 continuing denburg, gave students the confidence our Nation's Down's syndrome victims. resolution (Public Law 98-151> the that they were entitled to nondiscrim It is designed to increase awareness Congress appropriated and authorized inatory treatment. Orientation materi and appreciation for the special needs the emergency immigrant education als which every incoming student re of this courageous segment of our soci assistance program. The program was ceived discussed title IX's protections. ety. I am hopeful that House Joint authorized through title V of the Vo This law carried the authority of the Resolution 512 will contribute to the cational Rehabilitation Act amend Federal Government and served as a education and acceptance of sufferers ments, H.R. 3520, which passed the reminder to good spirited schools that of Down's syndrome, and I urge my House in September. After the Con equity was not optional. Dean Bran colleagues to join as cosponsors of this gress had adopted the continuing reso denburg believes that Grove City legislation, which was introduced at lution, the President signed the bill against Bell undermines all of this. the urging of the National Down's into law. Now, however, the adminis "Anything and everything is called Syndrome Parents Congress, an exem tration has decided to impound the into question." plary organization of parent groups.e $30 million for the program, and has Most American women work because done so without reporting its actions they must. They are paid 59 cents for to Congress. While administration every $1 earned by men and they are BORDER SCHOOL DISTRICTS FACE HARDSHIP spokesmen argue that the funds were increasingly being ghettoized in dead not properly authorized, the recission end jobs. Education is one of the ways HON. RONALD D. COLEMAN is a clear act of contempt for the legis out. Last year 413 of my colleagues in lative process and disconcern for the the House of Representatives joined OF TEXAS border school districts which are bear me in approving a resolution which IN THE HOUSE OF REPRESENTATIVES ing a cost they cannot afford. opposed the administration's plan to Thursday, March 8, 1984 In midst of the worst economic re limit the application of title IX. The Supreme Court ignored this roar of e Mr. COLEMAN of Texas. Mr. cession, the devaluation of the peso, support and argued that Congress did Speaker, the Nation's border school and the devastation of the border not intend a broad reading for title IX. districts face a hardship not encoun economies of this Nation, a Supreme It is imperative that the Congress tered anytime before in their exist Court ruling has threatened the exist immediately pass legislation to not ence. In 1982, the Supreme Court ence of many of our Nation's school only put the teeth back into title IX overturned a law promulgated by the districts. In my home State of Texas, but to also protect title VI and the Re Texas State Legislature regarding the there are more than 29,000 immigrant habilitation Act of 1973. That Federal children of immigrant persons. The students in our school system. In my protections from discrimination in Supreme Court said that the State is own district of El Paso, the Ysleta education should be weakened and re responsible for the education of such School District, one of 10, is facing the moved rather than strengthened and children. As a former member of the harsh reality that it will be forced to extend is, as I have said, appalling.e Texas House of Representatives, I un lay off teachers in order to support derstand what my former colleagues in the tremendous costs of educating the the State government intended when additional 652 children of undocu NATIONAL DOWN'S SYNDROME they passed the now unconstitutional mented workers. In the wake of the MONTH statute attempting to exclude from administration's publication of the education the children of undocu study, "A Nation at Risk," that they HON. STEPHEN J. SOLARZ mented workers because they were would propose to deny funding to OF NEW YORK aware of the costs involved, approxi some of the poorest school districts in IN THE HOUSE OF REPRESENTATIVES mately $3,000 per student. the country. and allow for these dis The ruling by the Supreme Court tricts to be further decimated, is in Thursday, March 8, 1984 did not resolve the original problem, conceivable and unacceptable. • Mr. SOLARZ. Mr. Speaker, it is my the question of where the responsibil I ask my colleagues to join with the great pleasure today to introduce a ity lies in paying for the education of majority leader and myself and sup joint resolution to designate the these children. This legislation, which port this bill. The legislation would es month of October 1984 as "National would provide $500 per immigrant stu tablish the funding for fiscal years Down's Syndrome Month." dent, would finally establish an 1985, 1986, and 1987. This is necessary Down's syndrome occurs in 1 out of answer. This legislation also provides to express the concern of the Con every 800 births. It is, at present, an that no State may receive more than gress, and establish this program as a incurable genetic disease characterized 1.5 percent of the amount that the long-term assistance program to assist by mental retardation and a variety of State receives under the Vocational these underfunded, disadvantaged often severe physical handicaps. For Rehabilitation Act. Thus, this State school districts which have been sin years, Down's syndrome carried the and the Federal Government assume gled out for unfair treatment. stigma of being a hopeless impediment the responsibility together. This is This bill would cost the Federal Gov to a meaningful and productive life. In only fair, especially when you consider ernment approximately $30 million fact, early literature on children with the tragic state of the economies of per year, fiscal years 1985 through March 8, 1984 EXTENSIONS OF REMARKS 5109 1987. This cost will only be of minor (2) In the event that funds become avail law for expenditure within the State for the aid to these border school districts, able for making payments under this Act same purpose as those for which funds are but it is better than no aid at all. The for any period after allocations have been available under this Act, but such reduction aid in this package will pay for one made under paragraph <1 > of this subsection shall be made only to the extent that (i) for such period, the amounts reduced under such amounts are made available for such sixth the costs the States must bear in such paragraph shall be increased on the purposes specifically because of the refugee, educating these children. While some same basis as they were reduced. parollee, asylee, or other immigrant status may argue that we cannot afford to STATE ADMINISTRATIVE COSTS of the individuate; served by such funds, and spend this kind of money when con SEc. 4. The Secretary is authorized to pay The House met at 12 o'clock noon, tled "An act to amend section 7 of the WHO STANDS IN THE WAY OF and was called to order by the Speaker Earthquake Hazards Reduction Act of THE SCHOOL PRAYER AMEND pro tempore 0 This symbol represents the time of day during the House proceedings, e.g., 0 1407 is 2:07 p.m. e This "bullet" symbol identifies statements or insertions which are not spoken by the Member on the floor. 5118 CONGRESSIONAL RECORD-HOUSE March 12, 1984 Mexico fight to contain hos for employee organizations seeking to By the end of this century, the Na pital costs during President Carter's years. acquire an ownership interest in their tion's pool of productive capital will A member of the Select Aging Committee, employer. In the Economic Recovery increase by an esimated $2 to $5 tril he helped amend a new Medicare payment 1981, policy. He is a leader in the efforts for im Tax Act of certain modifications lion. I believe one of our national chal proving long-term nursing care, better hous to the tax credit based ESOP were en lenges is to develop ways this newly ing and nutrition. He worked diligently to acted, designed to broaden its avail created wealth can be spread among strengthen the health warnings on cigarette ability. Today there are over 5,000 our citizens. The Joint Economic Com packages, although the bill has not yet ESOP's in existence. The legislation I mittee concluded in its 1976 annual passed. Waxman is the co-author of legisla am introducing builds on existing in report: tion to abolish mandatory retirement for centives and contains a comprehensive America must provide a realistic opportu federal employees and to raise the retire program of changes to the Tax Code nity for more U.S. citizens to become owners ment age in the private sector from 65 to to further encourage the growth of of capital, and to provide an expanded 70 .• ESOP arrangements. In summary the source of equity financing for corporations, bill: it should be made national policy to pursue Eliminates the disincentive under the goal of broadened capital ownership. present law for owners to transfer a Finding new ways to broaden capital business to employees; capital gain ownership is not simply a matter of taxation would be deferred in sale of economic equity. A substantial body of stock of ESOP's to the same extent as research suggests that companies with sales of stock to other companies; employee owners are likely to be more 5090 EXTENSIONS OF REMARKS March 8, 1984 productive and more profitable than The American people need and deserve a " a majority of the shares of which are those without. For example, a 1981 chance to own a stake in the U.S. economy owned by employees, survey of 229 ESOP companies by the an economy of their own making. It is time "