Kent Conrad

Mr. CONRAD

Mr. CONRAD. Mr. President, it is for that reason that I will support the amendment, because it may, even at this late hour, help build pressure for what the Senator from New Hampshire and I both want to do, which is somehow find a path to addressing these long-term entitlement challenges. It may help do that. In that spirit, I will support the amendment tonight. Now we have Senator Bingaman ready.

Mr. CONRAD. How much time does the Senator from New Mexico seek?

Mr. CONRAD. Yes, I agree.

Mr. CONRAD. The Senator is correct. That is the intention. After the amendments of Senator Grassley are discussed and debated, we would then be able to turn to a discussion of SCHIP with both sides participating, Senator Kyl thereafter to be recognized to offer an alternative to the amendment offered by the Senator from Montana. We await the Senators whose time has been reserved. I suggest the absence of a quorum.

Mr. CONRAD

Mr. CONRAD. I thank the Senator from Alabama. Senator Sessions is a constructive member of the Budget Committee. He and I have many disagreements. We have spirited debates. But I have high regard for the Senator and have enjoyed his service on the Budget Committee. He has been, as I said, a very constructive member there. Let me say I disagree with some of the conclusions he has reached. I wish to say to the Senator, I believe that the revenue objectives we have set in this budget resolution are entirely achievable with no tax increase. I would say to the Senator, the President, when he put out his budget, said it would raise $14.8 trillion. My budget says $15 trillion. That is a difference of 1.2 percent, and I believe that can be accomplished by going after tax havens, tax gaps, tax scams that are occurring. I do not think it is that difficult to do. With that said, I very strongly resist the amendment of the Senator from Alabama to remove points of order against additional spending or additional tax cuts. In this part of it, the Senator is talking about additional tax cuts. That guts pay-go. A central part of the new budget discipline being proposed in this budget resolution is to reassert pay- go. Pay-go says simply this: New mandatory spending and tax cuts must be offset or get 60 votes.

Mr. CONRAD. I thank the Senator from Texas very much. Senator Cornyn is another member of the Budget Committee whom I always look forward to working with and hearing his views; sometimes we agree, sometimes we do not. But with Senator Cornyn, it is always done in a collegial and professional manner, and I appreciate the attitude he brings to the committee. I have three questions I wish to ask Senator Cornyn with respect to this amendment. First, would it be the Senator's intent, in any way, that this amendment would preclude a corporation or an individual from paying more if we were to close down certain offshore tax havens?

Mr. CONRAD. I yield 5 minutes to the Senator from Ohio. We are delighted he is here to talk about the budget.

Mr. CONRAD. I have one question related to tax havens, one to tax loopholes, and one to tax gap. So my understanding, from the answer to the first question--which went to the question of tax havens--is that offshore tax havens that certain companies and individuals have been setting up in order to avoid the U.S. taxes, you have no intent in this amendment to preclude us from collecting more revenue from those who were engaged in those practices?

Mr. CONRAD. It is entirely appropriate to say to our colleagues, to put them on notice, that we intend to have a series of votes after 5 o'clock, not limited to these. The other amendments we are going to try to get through as quickly and as fairly as we can tomorrow so that we reduce what is left over for vote-arama.

Mr. CONRAD. We appreciate that. I appreciate very much the cooperation of Senator Gregg in setting up this series of votes tomorrow tonight. We have the Senator from Ohio. How much time would the Senator like?

Mr. CONRAD. This is an excellent time to speak on the resolution, but there will be no further amendments in order, nor votes.

Mr. CONRAD. Maybe we need to spend the whole day tomorrow.

Mr. CONRAD. I will be happy to yield for a question.

Mr. CONRAD. How is this one?

Mr. CONRAD. That is correct, Mr. President.

Mr. CONRAD. Is this on the time of Senator Gregg?

Mr. CONRAD. Mr. President, I ask unanimous consent that during further consideration of the concurrent budget resolution today, the first 3 hours be for debate only, the time equally divided and controlled by the chairman and the ranking minority member of the Budget Committee, and that at the end of that time, the majority leader then be recognized.

Mr. CONRAD. Would the Senator answer this question on your time?

Mr. CONRAD. Let me say, the Senator has that right. I don't think we need to belabor this point. I have received answers to the questions I had. The Senator has been very forthcoming with respect to his answers.

Mr. CONRAD. Madam President, for the information of the Senate, I would like to announce that during the vote sequence, if Republicans have an alternative to the first Democratic amendment, then it would be voted after the Democratic amendment, and we expect that other amendments will be offered and debated Wednesday prior to 5 p.m. So there are expected to be a series of votes at that time. We expect that they will be voted in an alternating fashion; that is, going back and forth between the two parties.

Mr. CONRAD. I am always happy to yield time to the Senator from Michigan.

Mr. CONRAD. The second question would be with respect to the tax gap. Obviously, we have some who are not paying what they legitimately owe under the current Code. I assume it would be the Senator's position that his amendment would not preclude us from collecting more revenue from companies or individuals who are not now paying what they legitimately owe under the current law.

Mr. CONRAD. No objection.

Mr. CONRAD. How much time does the Senator from Massachusetts need?

Mr. CONRAD. I only have 4 minutes left on our time.