James Oberstar

Mr. OBERSTAR

Mr. OBERSTAR. Mr. Speaker, I yield 30 seconds to the gentlewoman from California (Mrs. Davis).

Mr. OBERSTAR. Mr. Speaker, I yield 30 seconds to the gentleman from Texas (Mr. Turner).

Mr. OBERSTAR. Mr. Speaker, I yield 1 minute to the gentleman from California (Mr. George Miller).

Mr. OBERSTAR. Mr. Speaker, I yield 1 minute to the gentleman from New Jersey (Mr. Menendez).

Mr. OBERSTAR. Mr. Speaker, I yield 40 seconds to the distinguished gentleman from New York (Mr. Nadler), a member of the committee. (Mr. NADLER asked and was given permission to revise and extend his remarks.)

Mr. OBERSTAR. Mr. Speaker, I yield such time as she may consume to the gentlewoman from Hawaii. (Mrs. MINK of Hawaii asked and was given permission to revise and extend her remarks.)

Mr. OBERSTAR. Mr. Speaker, I yield 5 minutes to the gentleman from Illinois (Mr. Lipinski), the distinguished ranking member of the Subcommittee on Aviation, who has been a strong and supportive partner throughout this difficult process. (Mr. LIPINSKI asked and was given permission to revise and extend his remarks.)

Mr. OBERSTAR. Mr. Speaker, I am happy to yield 30 seconds to the gentlewoman from Nevada (Ms. Berkley).

Mr. OBERSTAR. Mr. Speaker, I yield myself 5 seconds to express my appreciation to the gentleman from Arizona for his calm, reasoned intervention last Friday night when we were attempting to pass the first version of this bill. Mr. Speaker, I yield 30 seconds to the gentleman from Tennessee (Mr. Clement), a distinguished member of our committee.

Mr. OBERSTAR. Mr. Speaker, I yield 1\1/2\ minutes to the gentleman from Oregon (Mr. DeFazio).

Mr. OBERSTAR. Mr. Speaker, I yield 30 seconds to the gentlewoman from Ohio (Mrs. Jones).

Mr. OBERSTAR. Mr. Speaker, I yield 30 seconds to the gentleman from California (Mr. Becerra).

Mr. OBERSTAR

Mr. OBERSTAR. Mr. Speaker, this is the not the time to debate why not.

Mr. OBERSTAR. Mr. Speaker, I yield.

Mr. OBERSTAR. Mr. Speaker, I am happy to yield to the Chairman.

Mr. OBERSTAR. Mr. Speaker, further reserving the right to object, I yield to our chairman, the gentleman from Alaska.

Mr. OBERSTAR. I thank the gentleman. I would be happy to yield to the chairman who sought recognition earlier. Mr. Speaker, I withdraw my reservation of objection.

Mr. OBERSTAR. Mr. Speaker, further reserving the right to object.

Mr. OBERSTAR. Reclaiming my time, Mr. Speaker, I thank the gentleman for his observations, and we will attempt to get the resolution to the question about the Federal Reserve; but I do not know of a situation where the Federal Reserve comes in to provide the help as the gentleman has suggested.

Mr. OBERSTAR. Mr. Speaker, I thank the gentleman for that clarification, and I thank the gentleman from Wisconsin. Further reserving the right to object, I yield to the gentleman from Arizona (Mr. Shadegg).

Mr. OBERSTAR. I yield to the gentleman from South Carolina (Mr. Spratt).

Mr. OBERSTAR. Mr. Speaker, reclaiming my time, and I respect the gentleman's heartfelt comments, I yield under my reservation to the gentleman from Wisconsin (Mr. Obey).

Mr. OBERSTAR. Mr. Speaker, let me yield under my reservation further to the gentleman from Wisconsin (Mr. Obey), then the gentleman from Pennsylvania (Mr. Kanjorski), and then the gentleman from Florida (Mr. Young).

Mr. OBERSTAR. Mr. Speaker, reclaiming my time, I will assure the gentleman that the language that is in the bill will come back from conference, or we cannot come back to this body.

Mr. OBERSTAR

Mr. OBERSTAR. Mr. Speaker, I thank the gentleman for yielding time to me and for those kind words. Let me return the compliment to the leader on our side whose persistence, hard work, and enormous energy have carried the day for us. I thank the chairman for his leadership, the gentleman from Florida (Mr. Young). Amidst the plethora of concerns addressed in this legislative package, I want to signal out the first line of attack in this terrorist incident; that is the Nation's airlines. The current conditions in the airlines sector could lead to a complete financial liquidation of the airline industry unless we address their immediate financial needs. Within 3 months, all of the carriers will completely run out of cash and be completely liquidated. They are losing cash on an average of $60 million a day per carrier. The financial markets are closed and the airlines cannot get access to their respective lines of credit. Insurance has doubled. Many insurance companies are even considering cutting off insurance, and financial institutions have put all airlines on credit watch. Their cargo and mail is embargoed, their source of income is gone. Remember, if Members expect ever to get home, they need an airline to get there.