William Roth

Mr. ROTH

Mr. ROTH. In light of this agreement, there will be no further votes this evening.

Mr. ROTH

Mr. ROTH. Will the Senator give me the number of his amendment?

Mr. ROTH. Mr. President, let me renew my request. I ask unanimous consent that it be in order for me to move to table the following amendments, with one show of seconds. The amendments are: Hollings amendment No. 2379, Feingold amendment No. 2428, Hollings amendment No. 2483, Hollings amendment No. 2485, Conrad-Grassley amendment No. 2359, and Feingold amendment No. 2406. I further ask consent that these votes occur in a stacked sequence beginning at 4 o'clock, with the time between now and then equally divided in the usual form, and there be no other amendments in order prior to the votes, and there be 4 minutes equally divided just before each vote, and the votes occur in the order in which the amendments were called up.

Mr. ROTH. Yes; 10 minutes.

Mr. ROTH. That is satisfactory.

Mr. ROTH. I then change my proposal to 4 o'clock rather than 3:45, with the understanding my colleagues will take 10 minutes for their side of the amendment.

Mr. ROTH. But, Mr. President, I ask unanimous consent the votes start at 4:15, then, instead of 4 o'clock.

Mr. ROTH. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. ROTH. Each will be a 15-minute vote.

Mr. ROTH. Mr. President, I oppose this Hollings amendment for three reasons. The first reason, as I have stated previously, is that the purpose of this legislation is to encourage investment in Africa, the Caribbean, and Central America by offering these poverty-stricken countries a measure of preferential access to our market. The amendment would undermine the effort by making eligibility explicitly dependent on the offer of reciprocal benefits to the United States equivalent to those to which the United States is entitled under NAFTA. The underlying requirements of the African-CBI provisions of the Finance Committee's substitute do encourage the beneficiary countries to remove barriers to trade. The existing requirements also impose an affirmative obligation to avoid discrimination against U.S. products in the beneficiary country's trade. What the Finance Committee substitute does not require is market access equivalent to that of NAFTA, a standard that even the WTO members among these beneficiary countries could not currently satisfy. The second reason I oppose the amendment is that the Finance Committee already instructs the President to begin the process of negotiating with the beneficiary country under both programs for trade agreements that would provide reciprocal market access to the United States as well as a still more solid foundation with a long-term economic relationship between the United States and its African, Caribbean, and Central American neighbors. Under the Africa provisions of the bill, the President is instructed to assess the prospects for such agreement and is called on to establish a regional economic forum. That forum could prove instrumental in solving market access problems that U.S. firms may face currently as well as a forum for any eventual negotiation. Under the CBI provisions of the bill, the Finance Committee sought to encourage our Caribbean-Central American trading partners to join with us in pressing for the early conclusion and implementation of the free trade agreements of the Americas. Each of the beneficiary countries of the CBI program has played an active and constructive role in those talks today. In both Africa and the CBI, we are making progress in opening markets and eliminating barriers to United States trade. The fact that we do not currently enjoy precisely those benefits offered by Canada and Mexico in the context of the NAFTA is no bar to action here. Finally, the bill does encourage reciprocity where it really counts in the context of this bill. By encouraging the use of U.S. fabric and U.S. yarn in the assembly of apparel products bound for the United States, the bill establishes a solid economic partnership between industry and the United States and firms in the beneficiary country. That provides real benefits to American firms and workers in the textile industry by establishing the platform by which American textile makers can compete worldwide. That is precisely the benefit our industry most seeks in the context of our growing economic relationship with both regions. In short, I oppose the amendment and urge my colleagues to do the same. Mr. President I ask unanimous consent that it be in order for me to move to table the following amendments with one show of seconds. The amendments are: Hollings No. 2379, Feingold No. 2428, Hollings No. 2483, and Hollings No. 2485. I further ask unanimous consent that these votes occur in a stacked sequence beginning at 3:45, with the time between now and then equally divided in the usual form; there be no other amendments in order prior to the votes; there be 4 minutes equally divided just before each vote; and the votes occur in the order in which the amendments were called up.

Mr. ROTH. Mr. President, I move to reconsider the vote.

Mr. ROTH

Mr. ROTH. Unfortunately, there has not been strong leadership from the White House on this matter. It seems to me it is a matter of grave concern. But since that has not happened, I do agree with what my colleague has just said, that it is important we act on this legislation so it becomes clear to our friends and neighbors around the world that we continue to plan to provide leadership in this most important area of trade.

Mr. ROTH

Mr. ROTH. Mr. President, I ask unanimous consent that a copy of a letter from Dan L. Crippen, Director of the Congressional Budget Office, dated October 29, 1999, be printed in the Record. The letter analyzes S. 1792, the Tax Relief Extension Act of 1999.

Mr. ROTH

Mr. ROTH. Mr. President, today I am pleased to join the distinguished ranking member of the Finance Committee, Senator Moynihan, in discussing Senate passage of the Tax Relief Extension Act of 1999. The bill the Senate passed today is a consensus package of extensions of expiring tax provisions, known as ``extenders.'' Working together, Senator Moynihan and I produced a package that was reported out of the Finance Committee unanimously. In order to get a package that could be approved by unanimous consent, we had to achieve a fair compromise. Every Member would probably differ in the way he or she would write an extenders bill. Fortunately, Members of the Senate realize the importance of addressing these expiring provisions. The evidence of that importance is demonstrated by the unanimous consent agreement for passage that we entered into today. The most important of the expiring provisions, as Senator Moynihan noted, is the exclusion of nonrefundable tax credits from the alternative minimum taxes (``AMT''). The Finance Committee bill insures that middle income families will receive the benefits of the $500 per child tax credit, HOPE Scholarship credit, Lifetime Learning credit, adoption credit, and dependent care tax credit. This relief is extended through December 31, 2000. There are other important expiring tax provisions the Finance Committee bill addresses. Included is the research and development (``R&D'') tax credit, the tax-free treatment of employer-provided educational assistance, the work opportunity tax credit, the welfare- to-work tax credit, the active finance exception to Subpart F, and the extension and modification of the tax credit for production of electricity from wind and biomass, including poultry waste. There are several other important extenders in this legislation. Mr. President, I urge the House to pass its extenders bill. We will then proceed to a conference and work out the differences between the two bills. It is important that we work quickly and produce a conference agreement that addresses these important matters.

Mr. ROTH

Mr. ROTH. Mr. President, in light of this agreement, there will be no further votes today. The Senate will continue debate on the CBI/African trade bill and may begin consideration of the conference report to accompany the D.C./Labor-HHS bill.

Mr. ROTH. Mr. President, I ask unanimous consent that today at a time determined by the majority leader, after consultation with the Democratic leader, the Senate begin consideration of the conference report to accompany the D.C./Labor-HHS Appropriations bill and the conference report be considered read. I further ask consent that on Monday, November 1, the Senate resume consideration of the conference report. I finally ask consent that at 9:30 a.m. on Tuesday, November 2, the Senate proceed to consider the conference report and that there be 30 minutes equally divided between the two leaders, to be followed by a vote on the adoption of the conference report, with no intervening action or debate.

Mr. ROTH

Mr. ROTH. I thank the Senator for the gracious remarks. I assure him I will work closely with him to make certain this matter is acted upon by this Senate. With that, Mr. President, I yield the floor.

Mr. ROTH. At least 75.

Mr. ROTH. What kind of signal are we giving to the rest of the world? People are talking about isolationism. What does this vote represent? Does it mean we can't act effectively when the welfare of thousands of people both here and abroad is at stake? I say to my distinguished colleague and ranking member of the Finance Committee, for whom I have the greatest respect, that we will not consider this to be a dead issue.

Mr. ROTH. Absolutely, I say to my distinguished friend, at least 75.

Mr. ROTH. We shall continue to fight and assure that the opportunity arises for this Senate to take appropriate action, to have the opportunity to vote on this important matter. I lament we have spent more than a week of debate on this bill. We are ready to deal with the subject matter of this bill and relevant amendments. The vote, to be candid, is a victory for the few who oppose the bill and a vote against the interests of American workers who would benefit from this bill. I regret it, as I said before, because this vote blocks progress-- progress by the House, which passed this bill with a strong bipartisan majority. This vote blocks progress by the President, and this was one of his most important initiatives. This vote blocks progress by the Senate, which I know enjoys the support of strong majorities, as I have already said, on both sides of the aisle. Most importantly, this vote blocks progress that would mean new markets. I can't emphasize that too much. It would mean new markets for the American textile industry. It creates approximately 121,000 new jobs. It would have meant roughly $8.8 billion in enhanced business for the industry. I deeply regret the effort to say this is just the result of campaign contributions, or whatever. Nothing could be further from the truth. I don't know whether or not we have upstairs now the Ambassadors of the 47 countries in Africa who would have benefited. They have been here day in and day out watching the developments; they are concerned about this legislation, which held out promise and hopes for them. As I said, this legislation is critically important because it promised jobs here at home. It promised the opportunity for the textile industry to better keep competitive in the local market. But not only here, I say to my distinguished friend from New York, isn't it true it would also help develop markets abroad?

Mr. ROTH. That do not now exist. Exactly. So that, as I say, this is a sad day for the country, and it is a sad for Delaware as well. Let me say to the American workers, to our friends abroad, and our many supporters in the Senate gallery--I think I can include Senator Moynihan--that I will continue to fight for this bill.

Mr. ROTH. Senator Moynihan and I will continue to fight for the benefits of this bill that extends to American workers and American industry. We will continue to resist the instincts of some who have fought to maintain protective walls and isolate America from the outside world. The thing that bothers me so much is that in addition to the negative impact it has on this industry and on American workers, it sends the wrong signal just as we are on the verge of a multilateral meeting in Seattle--a historic occasion that would enable us to provide the kind of leadership that is needed if we are to continue the direction of liberal trade policy. Yesterday, Senator Moynihan pointed out so eloquently how liberal trade policies from way back in the 1930s have benefited this country, have benefited American workers, and, indeed, have benefited the entire world. We cannot turn our backs on this record. We shall continue to fight and seek the opportunity to move forward.

Mr. ROTH

Mr. ROTH. Mr. President, I ask unanimous consent that the Committee on Foreign Relations be authorized to meet during the session of the Senate on Friday, October 29, 1999, at 10 a.m. to hold a hearing.

Mr. ROTH

Mr. ROTH. Mr. President, I yield back the remainder of my time. Cloture Motion