Max Baucus

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I cosponsored your amendment because I agree that inclusion of a tax provision in this bill is inappropriate. In 1983, under the Caribbean Basin Economic Recovery Act, the excise tax collections on imported rum are transferred or rebated to the treasuries of Puerto Rico and the Virgin Islands. The tax code provides a rebate of $13.25 of the $13.50 excise tax to Puerto Rico and the Virgin Islands for the excise tax collected on rum imported into the United States (without regard to the country of origin). The amount of the rebate is scheduled to decrease to the 1983 level of $10.50 after December 31st, unless Congress extends the current $13.25 rebate. Perhaps the expiration of the increased amount transferred provides time for resolution of the dispute?

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I am pleased to join my friend and fellow Montanan, Senator Burns, in introducing the Broadband Expensing Act. Montana has led the way in the innovation of a tax incentive to promote broadband deployment to rural and underserved areas. And today, Senator Burns and I are continuing to work together to provide Montana and the Nation with the tools it needs to stay on the cutting edge of communication technology. My top goal for my State and the country is to help boost our economy and create more good paying jobs. This bill will help to do that. The Broadband Expensing Act will allow businesses to depreciate their capital investment quicker, allowing them to deploy next generation networks at a faster pace. In short, the benefits are two-fold: businesses will benefit by receiving an incentive to roll out their network into rural areas. And customers will benefit by being able to send and receive massive amounts of data much faster than before. The ability to communicate clearly, quickly and effectively is vital to a healthy economy. The Internet has been an incredible innovation, but its abilities are limited by an outdated infrastructure. Much of the network still relies on the same copper wire that Alexander Graham Bell used when he first designed our telephone system. It is time to update that infrastructure to soup up the copper wire, to soup up coaxial cable, to move to optical technologies, and to develop new wireless products. As many in the industry have told me, our communications network is slowly being upgraded all across the country--but often not in rural America. The main reason is cost. Companies are in business to make money, and if their costs are too high, they are reluctant to make the investment. But rural Americans deserve the same kind of high-speed service that urban Americans have access to. Long ago we determined that rural Americans deserved the same basic services electricity, telephone and transportation--and we found creative ways to provide them with those services. Now it is time to ensure they have access to broadband as well. In addition to helping us bring ``current generation'' broadband to rural and underserved areas, this bill that Senator Burns and I have introduced will help us move to the ``next generation'' of broadband state-of-the-art systems that carry much greater amounts of data than copper wire and coaxial cable. It is fitting that we introduce this bill today, as we are beginning discussions about an economic stimulus package. Boosting broadband service across the country is one more way to boost the economy and bring more jobs to our rural areas. Broadband will help ensure that our productivity remains high and that our citizens receive the best services modern telecommunications have to offer. The potentials of broadband are limitless. From telemedicine to distance learning to video conferencing. In rural areas, we will find even more ways to use broadband, such as tele-veterinary services, remote monitoring of crops or on-line livestock auctions. And I want to echo Senator Burns concerns about international competitiveness. A recent study by the Organization for Economic Cooperation and Development found that the United States is now sixth in the world in broadband penetration. Two years ago, we were third. Last year, we were fourth. Now we are sixth, behind South Korea, Canada, Sweden, the Netherlands and Belgium. We need to move back up the ladder. The United States invented the Internet. We invented the computer. We invented optical fiber. We invented many of the devices upon which the Internet depends. So we can't allow ourselves to fall behind in high-speed Internet service. I also want to thank my colleague from West Virginia, Senator Rockefeller, for his important work on the broadband tax credit legislation. I look forward to his reintroduction of that important bill and working together to provide Americans with broadband incentives. Let me conclude by asking my Senate colleagues for their support of this bill that will stimulate broadband investment around the country. Every single American, urban or rural, rich or poor, young or old, deserve access to this new and exciting technology. I look forward to working with Senator Burns and others to get this legislation enacted this year.

Mr. BAUCUS

Mr. BAUCUS. That is a very fair representation.

Mr. BAUCUS. That is a yes.

Mr. BAUCUS. Mr. President, I might say to my good friends that I think that is a good idea. The Senator has my assurance--and I know the assurance of my colleague from Iowa--that we will look into the matter tomorrow, say, and determine if a hearing makes sense. It could well be a very good idea. Maybe it can be resolved in some other way without a hearing. But I would like to look at the issue and expeditiously, see if there is a way to resolve this matter. It could well be that we could have a hearing this week or sometime this month. It could be a very good idea. We could well do that. But I could really answer that question a little more after I look at the issue more and know what is involved.

Mr. BAUCUS. Mr. President, reserving the right to object and I will object, I deeply appreciate the concerns of both Senators from Pennsylvania, the senior Senator and junior Senator, who spoke eloquently about the problems facing those particular airlines, and I understand that. I think every Member of this body does. The fact of the matter is, there are other airlines, too, facing very difficult financial problems these days. It is unfortunate but that is the fact. I must say, too, as has the chairman of the Finance Committee, I have not seen that proposal. All I know is what I hear on the floor now. I think it would be inappropriate for the Senate to unanimously pass a change in the pension laws which have not been reviewed by other Senators, certainly not by Members of the Finance Committee. My good friend, Senator Grassley, soon to be chairman of the Finance Committee, makes a very good point. Even if it were passed here, we would have to wait until some other measure passed in the body so it could be amended and have it considered. There are a lot of reasons-- although I certainly appreciate the argument by the Senators--this is not the appropriate time nor the appropriate way to take up this measure. I ask my good colleagues to work with the committee and to work with Senator Grassley and myself over the next several days or next week-- and also with other airlines because other airlines, frankly, are hurt by their request. I was contacted a couple hours ago by airlines that said: Wait a minute. It may be good for them, but it is not good for us. We have to make sure that all airlines are treated fairly. I very much look forward to working with my good friends from Pennsylvania, and all Senators. But I just think because of propriety and doing it the right way to make sure this is the right solution that we should not take it up at this time. There may be amendments and modifications to the provision being requested that could be quite helpful to meet some of the objections some others might have. This is the first time we have heard of it. I haven't seen the language. It did not come before our committee. I must respectfully object to the request.

Mr. BAUCUS

Mr. BAUCUS. Mr. President, what is the present business? Is the request by the Senator from Tennessee the pending business?

Mr. BAUCUS. I yield to my friend from Oklahoma. Go ahead.

Mr. BAUCUS. Mr. President, reserving the right to object, I have a couple of points. One, the Senator from Pennsylvania says, ``what's changed?'' A lot has changed. The unemployment rate is higher than it was last March. That is a significant change. Second, the nature of unemployment in America regrettably is becoming more long term. Economists debate why that is happening; nevertheless, it is a fact. It is becoming more long term. Some of it is Rust Belt jobs not being replaced. A lot of it is in the service industries, whether in technology and financial; but it is becoming more long term. These people are having a hard time with the change in the nature of our economy and finding jobs. I think, frankly, the request by the Senator from New York is more than reasonable, that at least we should have an opportunity to vote on that; or we can take up the suggestion by the Senator from South Dakota, that we have two different options. I might also add that this is stimulative. The Senator from Washington pointed out, quite correctly, that economists say for every dollar spent on unemployment, $2.15 is recirculated into the economy. Essentially, a lot of the discussion at the beginning of this year is stimulus--how are we going to stimulate the economy? I think that at least helping people who don't have jobs gain a little bit of benefits is a good idea because it stimulates the economy. I further add that there will be a lot of discussion over the next weeks and months about the President's stimulus plan, which includes tremendous tax breaks, whether it is dividends or income-tax breaks for these people who have jobs and income. What about the people who don't have jobs, the people who don't have income? If we are going to ``stimulate'' the economy by giving tax breaks, the very least we can do is help people who are unemployed in an economy whose very nature means there is longer unemployment. People who do not have income don't pay income tax. I suggest that we find a way to have a vote on the amendment of the Senator from New York. Senators can vote against it. If Senators do not want to be ``dictated'' to by the House, they can vote their conscience and do what they think is right. If Senators believe the House trumps this body, they can vote against the amendment. They have that option. But at the very least, I believe that we, as responsible Senators--I heard a couple of great speeches not long ago about defending the Constitution of the United States and doing what is right. Clearly, doing what is right is helping people who need some help. That is what is right. That is why we are here. I understand it is a little inconvenient, and I don't denigrate that because of the receptions and the parties that are going on here. I don't think the Constitution had that in mind when the Framers wrote the provisions in that document, the oath of office which we took to support and defend our country.

Mr. BAUCUS

Mr. BAUCUS. Mr. President, we are all aware that last Thursday the House failed to pass the conference report on H.R. 333, the bankruptcy reform measure. Further, failing to pass H.R. 333, the version of bankruptcy reform that the House did pass last Friday was not taken up for Senate consideration this past week for several reasons. However there are much needed reforms in the bankruptcy bill and one in particular that I would like to discuss today. It is my understanding that the final bill passed by the House did contain a number of technical corrections that were agreed to on a bipartisan, bicameral basis after inadvertent drafting errors were discovered following the conclusion of the work of the conference committee on H.R. 333. One such error involved the effective date provision of section 1234. Section 1234 was not a new provision of law but a reiteration of current law. This section made clear that a claim that is in bona fide dispute over the existence of liability, or the amount of that liability, cannot be used as the basis for bringing an involuntary bankruptcy action. This clarification is consistent with the 1984 legislative history of this portion of Section 303 of the Bankruptcy Code. It also tracks the decisions of all five Courts of Appeal that have ruled on the bona fide dispute bar to the bringing of involuntary bankruptcy actions. Section 1234 restated and strengthened congressional intent that an involuntary bankruptcy action should not be employed by litigants seeking to gain more leverage than they would have if they disputed contract performance in the proper judicial forum. The respondent in a bona fide dispute over liability for a claim or the amount thereof should not be disadvantaged by the stigma and expense of an involuntary bankruptcy proceeding, nor should our overcrowded bankruptcy courts be burdened with such disputes. In as much as section 1234 restated existing law, it was given immediate effect upon enactment--but, due to a drafting error, it would not have applied to cases now pending before the bankruptcy courts. This mistake would have had a particularly perverse effect in the five Federal circuits that have correctly ruled that bona fide dispute standard applies to both liability and the amount thereof; no circuit court has reached a contrary conclusion. As soon as the conferees became aware of this mistake, they worked to fashion a correction contained in a concurrent resolution to be adopted simultaneously with the conference report. That and other enrolling changes were incorporated in the bankruptcy bill passed by the House last Friday. The involuntary bankruptcy provision was contained in section 1233 of that measure, which stated that ``This section and the amendments made by this section shall take effect on the date of enactment of this Act and shall apply with respect to cases commenced under Title 11 of the United States Code before, on, and after such a date.'' As the author of both the 1984 amendment that established the bona fide dispute proviso of section 303 of the Code and 2001 Senate amendment that became section 1234 of the conference report and section 1233 of the House-passed bill, I intend to seek to secure the same clarification and reiteration of current law in the 108th Congress.

Mr. BAUCUS

Mr. BAUCUS. The Senator is correct.

Mr. BAUCUS. The Senator is correct and his reading is consistent with the provisions of this legislation.

Mr. BAUCUS. That is correct, and I appreciate my good friend from Iowa for clarifying these points. Preserving Coast Guard Mission Performance

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I rise today to ask my colleagues to join me in paying tribute to a dedicated member of the Montana Department of Fish, Wildlife and Parks, FWP, as she concludes 32 years of service to her State and Nation. We are proud that this native Montanan spent her entire working life dedicated to serving Montana's State's citizens and visitors. Mrs. Nancy Kraft deserves this honor. We owe her our gratitude for her contributions to the conservation of Montana's wildlife and natural resources, as well as her efforts to preserve the outdoor heritage that makes the Treasure State's way of life unique. Nancy's personal and professional career accomplishments truly reflect the character of life under the big sky. Her loyal service over three decades--spent in our capital city of Helena--are a testament to all those who value wildlife and open spaces. I would like to take a moment to reflect upon Nancy's career as she embarks on a new phase of life beyond government service. Born in Helena, Nancy attended primary school locally and began work at the then Department of Fish and Game in 1970 as a temporary employee in the General Licensing section handling delinquent accounts. Skilled in pursuing overdue collections she soon designed a system that over the years returned more than $300,000 to the people of Montana. Nancy progressed through several positions of increasing responsibility, while continuing to make sure licensing operations were closely related to the needs and interests of Montana's recreating public. In 1985 she was selected as the FWP General License Section Supervisor. Her capable leadership led to substantive changes in regulations and license fees during the time that outdoor recreation became a major economic influence in Montana. Because of her in-depth knowledge and ability to bring diverse interests together, Nancy was assigned to a team of FWP experts charged with the task of designing a system to automate the licensing processes. Recognizing that the transition to computers from a paper process was a major undertaking, she worked tirelessly to ensure the myriad regulations, drawing systems, fee schedules, and calendar requirements were accurately reflected in the system design. In her final assignment Nancy was selected to be the Licensing Bureau Chief with responsibility for the collection of fees exceeding $30 million annually. Shortly after FWP celebrated its 100th anniversary, Nancy and her team embarked on one of the biggest challenges in state government--providing ongoing services with no down time while changing systems affecting over 400,000 customers. Over the past 2 years Nancy helped lead the transition to the new Automated Licensing System. Within eight months of implementation, the system processed over one million license sales with error rates below 1 percent, and produced a steady increase in customer satisfaction. This shining example of perseverance and poise under pressure is a reflection of the quiet competence that Nancy Kraft brings to her workplace every day for the people of Montana. Nancy's contributions to the State's highly complex and important licensing functions cannot be overstated. Her staff's accurate forecasting and collection of millions of dollars each year allow FWP to perform its primary mission while preparing for future uses of Montana's special natural resources. Such achievements are a clear testament to how she has, for more than 30 years, enhanced the fishing, hunting, and parks experience held in such high esteem by the people of Montana and our many visitors. As a well known and highly regarded member of the Helena community, Nancy's ability and knowledge, her willingness to find solutions, and her congenial way of dealing with people from all walks of life will be most difficult to replace. It is a great honor for me to present the credentials of Nancy Kraft to the Senate today. All of her actions reflect a devoted public servant with a sense of purpose. As Nancy departs from public service I ask my colleagues to join with me in delivering this tribute to Nancy for her outstanding career and service to the State of Montana and the Nation, and our best wishes for a productive and rewarding retirement.

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I rise to extend my congratulations to Bob and Mary Jean Freese on their 50 years of marriage. During that half century, their loving relationship has not only helped them raise five children, but has served them well in raising two additional generations, with seven grandchildren and one great-grand child. Bob and Mary Jean were united at Salem Lutheran Church in Spokane, Washington on December 6, 1952. Throughout their lives together they have demonstrated a commitment to public service, and instilled a similar public service ethic in their families. Bob is the son of a Marine Corps Officer and served honorably in the United States Air Force for ten years, and later was a plant engineer with Continental Baking Company. Mary Jean was a long time employee in the Spokane County Auditor's office. While Bob and Mary Jean reside in Spokane, Washington, their daughter-in-law Maria Freese has provided dedicated service to the people of Montana, first as a member of my Senate staff and later as Tax Counsel with the Senate Finance Committee. Their son Terry recently retired from 25 years of service with Congressman Norm Dicks and as a Presidential appointee at the Department of Energy, their daughter Robin works with the state of Washington, their son Russell served with the U.S. Air Force, their daughter Peggy has worked with Spokane Community College. And their youngest son, Tom, has served the public in a number of positions in the automotive industry. In their retirement, Bob and Mary Jean continue to help others by combining their interest in motorcycles with safety promoting community service at highway rest stops. Mary Jean is also an officer with the Spokane Genealogical Society and is always willing to help people seeking out their roots. I hope that Bob and Mary Jean will continue to enjoy many more years of happiness together.

Mr. BAUCUS

Mr. BAUCUS. As I promised when I spoke yesterday during floor action on the Social Security Protection Act of 2002--H.R. 4070, as amended--I am now submitting an unofficial cost estimate from the nonpartisan Congressional Budget Office for that bill. I ask unanimous consent that it be printed in the Record.

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I thank my good friend from Iowa. As we have worked together as chairmen and as ranking members of the Senate Finance Committee, I have always found him to approach issues in a fair and even-handed manner. Let me express my sincere appreciation to him for the many bipartisan efforts that we have worked on together, particularly the Brownfields Revitalization and Environmental Restoration Act that passed 99-0 in the Senate. I look forward to working with him on this and many other issues in the months and years to come.

Mr. BAUCUS. Mr. President, I rise today to highlight an issue of great importance to the people of my State and to people across this country. Over the past several years, I worked closely with a number of my Senate colleagues to pass the Brownfields Revitalization and Environmental Restoration Act. Signed into law by the President last year, this act is an innovative piece of legislation that will promote and accelerate the cleanup of hundreds of brownfield sites around the country. The Brownfields Revitalization and Environmental Restoration Act passed with strong bipartisan support in both the House and the Senate. It will help states and local communities clean up the country's estimated 1,000,000 brownfield sites. These sites blight our communities, threaten public health and safety, and drain local tax bases. I am proud of this legislation. It devotes desperately needed resources to address the environmental and economic challenges posed by brownfields. Still, I remain convinced that there is much left to do. With an estimated 1,000,000 brownfield sites across this nation and new sites being discovered each day, the very best efforts of our government will be insufficient to tackle this growing concern in any reasonable period of time. For that reason, I have begun exploring legislative options to encourage additional private capital investment in the remediation and redevelopment of our nation's brownfield sites. Such a solution would complement the Brownfields Revitalization and Environmental Restoration Act and could help us make great strides toward creating jobs and cleaning up the environment in communities across the country. Over 60 percent of the institutional capital in the United States is held for investment by tax-exempt entities such as pension funds and university endowments. Given the risks associated with acquiring and cleaning up contaminated sites, it is no surprise that private investors are reluctant to invest large amounts of capital in brownfields cleanup and revitalization. Tax exempt entities are often prevented from engaging in brownfield cleanups because of the unrelated business taxable income, UBTI, provisions in the code. The UBTI provisions of the tax code play an important role in ensuring that entities do not use their tax-exempt status to gain a competitive advantage in the marketplace over taxed entities. It is clear, however, that the free market is not moving to remediate and redevelop many of these sites, certainly not at a rate that will solve this problem during our lifetimes. It is my belief that without some additional stimulus, many of these sites will remain unattractive as business investments and will continue to languish and blight our communities. If we were to allow tax-exempt entities to invest in the remediation and redevelopment of these sites without incurring UBTI, we may be able to create a powerful engine to help revitalize our Nation's brownfield sites. It also seems possible that we could accomplish these goals in this slowed economic climate with a solution that neither materially impacts revenues nor requires significant costs for administration. In the coming months, it is my intent to explore legislative options to encourage the investment of additional private capital into the cleanup and redevelopment of our Nation's brownfield sites. It is my intention and desire to work on this matter in a bipartisan fashion with my good friend and colleague, the senior Senator from Iowa.

Mr. BAUCUS

Mr. BAUCUS. That is correct, and I appreciate my good friend from Iowa for clarifying these points. Preserving Coast Guard Mission Performance

Mr. BAUCUS. The Senator is correct.

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I rise today to ask my colleagues to join me in paying tribute to a dedicated member of the Montana Department of Fish, Wildlife and Parks, FWP, as she concludes 32 years of service to her State and Nation. We are proud that this native Montanan spent her entire working life dedicated to serving Montana's State's citizens and visitors. Mrs. Nancy Kraft deserves this honor. We owe her our gratitude for her contributions to the conservation of Montana's wildlife and natural resources, as well as her efforts to preserve the outdoor heritage that makes the Treasure State's way of life unique. Nancy's personal and professional career accomplishments truly reflect the character of life under the big sky. Her loyal service over three decades--spent in our capital city of Helena--are a testament to all those who value wildlife and open spaces. I would like to take a moment to reflect upon Nancy's career as she embarks on a new phase of life beyond government service. Born in Helena, Nancy attended primary school locally and began work at the then Department of Fish and Game in 1970 as a temporary employee in the General Licensing section handling delinquent accounts. Skilled in pursuing overdue collections she soon designed a system that over the years returned more than $300,000 to the people of Montana. Nancy progressed through several positions of increasing responsibility, while continuing to make sure licensing operations were closely related to the needs and interests of Montana's recreating public. In 1985 she was selected as the FWP General License Section Supervisor. Her capable leadership led to substantive changes in regulations and license fees during the time that outdoor recreation became a major economic influence in Montana. Because of her in-depth knowledge and ability to bring diverse interests together, Nancy was assigned to a team of FWP experts charged with the task of designing a system to automate the licensing processes. Recognizing that the transition to computers from a paper process was a major undertaking, she worked tirelessly to ensure the myriad regulations, drawing systems, fee schedules, and calendar requirements were accurately reflected in the system design. In her final assignment Nancy was selected to be the Licensing Bureau Chief with responsibility for the collection of fees exceeding $30 million annually. Shortly after FWP celebrated its 100th anniversary, Nancy and her team embarked on one of the biggest challenges in state government--providing ongoing services with no down time while changing systems affecting over 400,000 customers. Over the past 2 years Nancy helped lead the transition to the new Automated Licensing System. Within eight months of implementation, the system processed over one million license sales with error rates below 1 percent, and produced a steady increase in customer satisfaction. This shining example of perseverance and poise under pressure is a reflection of the quiet competence that Nancy Kraft brings to her workplace every day for the people of Montana. Nancy's contributions to the State's highly complex and important licensing functions cannot be overstated. Her staff's accurate forecasting and collection of millions of dollars each year allow FWP to perform its primary mission while preparing for future uses of Montana's special natural resources. Such achievements are a clear testament to how she has, for more than 30 years, enhanced the fishing, hunting, and parks experience held in such high esteem by the people of Montana and our many visitors. As a well known and highly regarded member of the Helena community, Nancy's ability and knowledge, her willingness to find solutions, and her congenial way of dealing with people from all walks of life will be most difficult to replace. It is a great honor for me to present the credentials of Nancy Kraft to the Senate today. All of her actions reflect a devoted public servant with a sense of purpose. As Nancy departs from public service I ask my colleagues to join with me in delivering this tribute to Nancy for her outstanding career and service to the State of Montana and the Nation, and our best wishes for a productive and rewarding retirement.

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I thank my good friend from Iowa. As we have worked together as chairmen and as ranking members of the Senate Finance Committee, I have always found him to approach issues in a fair and even-handed manner. Let me express my sincere appreciation to him for the many bipartisan efforts that we have worked on together, particularly the Brownfields Revitalization and Environmental Restoration Act that passed 99-0 in the Senate. I look forward to working with him on this and many other issues in the months and years to come.

Mr. BAUCUS. Mr. President, I rise today to highlight an issue of great importance to the people of my State and to people across this country. Over the past several years, I worked closely with a number of my Senate colleagues to pass the Brownfields Revitalization and Environmental Restoration Act. Signed into law by the President last year, this act is an innovative piece of legislation that will promote and accelerate the cleanup of hundreds of brownfield sites around the country. The Brownfields Revitalization and Environmental Restoration Act passed with strong bipartisan support in both the House and the Senate. It will help states and local communities clean up the country's estimated 1,000,000 brownfield sites. These sites blight our communities, threaten public health and safety, and drain local tax bases. I am proud of this legislation. It devotes desperately needed resources to address the environmental and economic challenges posed by brownfields. Still, I remain convinced that there is much left to do. With an estimated 1,000,000 brownfield sites across this nation and new sites being discovered each day, the very best efforts of our government will be insufficient to tackle this growing concern in any reasonable period of time. For that reason, I have begun exploring legislative options to encourage additional private capital investment in the remediation and redevelopment of our nation's brownfield sites. Such a solution would complement the Brownfields Revitalization and Environmental Restoration Act and could help us make great strides toward creating jobs and cleaning up the environment in communities across the country. Over 60 percent of the institutional capital in the United States is held for investment by tax-exempt entities such as pension funds and university endowments. Given the risks associated with acquiring and cleaning up contaminated sites, it is no surprise that private investors are reluctant to invest large amounts of capital in brownfields cleanup and revitalization. Tax exempt entities are often prevented from engaging in brownfield cleanups because of the unrelated business taxable income, UBTI, provisions in the code. The UBTI provisions of the tax code play an important role in ensuring that entities do not use their tax-exempt status to gain a competitive advantage in the marketplace over taxed entities. It is clear, however, that the free market is not moving to remediate and redevelop many of these sites, certainly not at a rate that will solve this problem during our lifetimes. It is my belief that without some additional stimulus, many of these sites will remain unattractive as business investments and will continue to languish and blight our communities. If we were to allow tax-exempt entities to invest in the remediation and redevelopment of these sites without incurring UBTI, we may be able to create a powerful engine to help revitalize our Nation's brownfield sites. It also seems possible that we could accomplish these goals in this slowed economic climate with a solution that neither materially impacts revenues nor requires significant costs for administration. In the coming months, it is my intent to explore legislative options to encourage the investment of additional private capital into the cleanup and redevelopment of our Nation's brownfield sites. It is my intention and desire to work on this matter in a bipartisan fashion with my good friend and colleague, the senior Senator from Iowa.

Mr. BAUCUS

Mr. BAUCUS. Mr. President, I rise to extend my congratulations to Bob and Mary Jean Freese on their 50 years of marriage. During that half century, their loving relationship has not only helped them raise five children, but has served them well in raising two additional generations, with seven grandchildren and one great-grand child. Bob and Mary Jean were united at Salem Lutheran Church in Spokane, Washington on December 6, 1952. Throughout their lives together they have demonstrated a commitment to public service, and instilled a similar public service ethic in their families. Bob is the son of a Marine Corps Officer and served honorably in the United States Air Force for ten years, and later was a plant engineer with Continental Baking Company. Mary Jean was a long time employee in the Spokane County Auditor's office. While Bob and Mary Jean reside in Spokane, Washington, their daughter-in-law Maria Freese has provided dedicated service to the people of Montana, first as a member of my Senate staff and later as Tax Counsel with the Senate Finance Committee. Their son Terry recently retired from 25 years of service with Congressman Norm Dicks and as a Presidential appointee at the Department of Energy, their daughter Robin works with the state of Washington, their son Russell served with the U.S. Air Force, their daughter Peggy has worked with Spokane Community College. And their youngest son, Tom, has served the public in a number of positions in the automotive industry. In their retirement, Bob and Mary Jean continue to help others by combining their interest in motorcycles with safety promoting community service at highway rest stops. Mary Jean is also an officer with the Spokane Genealogical Society and is always willing to help people seeking out their roots. I hope that Bob and Mary Jean will continue to enjoy many more years of happiness together.

Mr. BAUCUS

Mr. BAUCUS. As I promised when I spoke yesterday during floor action on the Social Security Protection Act of 2002--H.R. 4070, as amended--I am now submitting an unofficial cost estimate from the nonpartisan Congressional Budget Office for that bill. I ask unanimous consent that it be printed in the Record.