J. Exon

Mr. EXON

Mr. EXON. I thank the Senator.

Mr. EXON. I certainly do not object. I would just simply wish to expand this in order to move things along. We are prepared to consider time agreements now on both the Hatfield amendment and the amendment following that to be offered by Senator Boxer. Is the Senator from New Mexico in a position to talk about time agreements on the Hatfield amendment?

Mr. EXON. That is agreeable to those on this side.

Mr. EXON. Is that in the form of a unanimous-consent request?

Mr. EXON

Mr. EXON. Mr. President, Senator Moynihan has proposed this amendment which will enable Congress to improve our welfare system rather than dismantle it. Under the amendment, Aid to Families with Dependent Children will remain a Federal entitlement program. The amendment will, over 7 years, restore $55 billion to the income security programs, including Aid to Families with Dependent Children, supplemental security income and unemployment insurance under the jurisdiction of the Finance Committee. The amendment is deficit neutral. It is financed in part by the fiscal dividend that will accrue to the Federal Government if we balance the budget.

Mr. EXON

Mr. EXON. Mr. President, I support the amendment offered by Senator Bumpers to strike the changes made to the asset rule in the budget resolution. The recent push to sell off physical assets in an effort to generate short-term budget savings is not a wise move. The asset rule was put in place in order to discourage these sorts of proposals which do not result in any structural decline of the deficit. In fact, many of the recommendations included in this budget resolution will not yield any budget savings over the long term. The savings resulting from the selling off of physical assets in this resolution will end up generating only $3.5 billion in receipts over the next 7 years. Many of these proposals end up costing the Government money in the out-years. I hope my colleagues on both sides of the aisle will support this effort to rid the use of this sort of budget gimmickry in an attempt to balance the budget.

Mr. EXON

Mr. EXON. Mr. President, with regard to the vote on the Gramm amendment, I ask unanimous consent that the vote in relation to the Gramm amendment occur in the stacked sequence at a time to be announced by the two leaders and that no second-degree amendment be in order thereto.

Mr. EXON. No plan.

Mr. EXON. Is the Senator from Texas ready to yield back his time?

Mr. EXON. Mr. President, what is the remaining time on each side?

Mr. EXON. Mr. President, I yield 6 minutes to the Senator from New Jersey.

Mr. EXON. Mr. President, I answer my colleague from North Dakota by cites are in the budget resolution. What I think the Senator from North Dakota fails to recognize is that the tooth fairy is going to take care of that deficit. With that explanation, I am sure that the Senator will be fully satisfied. I reserve the balance of my time.

Mr. EXON. Then I would yield at this time 4 minutes to the Senator from Michigan, followed by 2 minutes by the Senator from Minnesota.

Mr. EXON. Mr. President, in view of the fact that we have more time left than that side, would the Senator from Texas object to two rather short statements in a row?

Mr. EXON. I move to lay that motion on the table. The motion to lay on the table was agreed to. Mr. DOMENICI addressed the Chair.

Mr. EXON. There is a suspicion somebody is trying to fool somebody else.

Mr. EXON. Yes.

Mr. EXON. I yield 2 additional minutes.

Mr. EXON. I yield 5 minutes, and if the Senator needs more time I will be glad to yield it.

Mr. EXON. How much time does the Senator from Iowa wish?

Mr. EXON. I inquire of the Senator from Iowa, [Mr. Grassley], who asked for some time, is he prepared to offer his remarks at this time?

Mr. EXON. I thank the Chair.

Mr. EXON. Mr. President, I did not hear the time in answer to my question.

Mr. EXON. We will have somebody in just a moment. There has been some misunderstanding on time. At the present time, will the Chair advise the Senate how much time is allocated and remaining to the proponents of the amendment, and what is the split on the time with regard to the other side?

Mr. EXON

Mr. EXON. Will the Senator yield?