William Roth

Mr. ROTH

Mr. ROTH. Mr. President, I yield the remainder of time on behalf of Senator Gramm.

Mr. ROTH. Mr. President, we are now opening up to the next amendment.

Mr. ROTH. Mr. President, I yield 5 minutes to the distinguished Senator from New Mexico.

Mr. ROTH. I yield 2 more minutes to the Senator.

Mr. ROTH. Thank you, Senator Coverdell. As you are aware, I have been a supporter of this legislation in the past, and I will continue to support this legislation in the future. This bipartisan proposal is an outstanding example of our ability to use the tax code, to help millions of middle class American families across the country. By using the tax code to encourage families to save for their children's education needs and expenses, we all benefit. The expansion of the education IRA will result in greater opportunities for every American child and their families. With education savings accounts, 14 million families--over 20 million kids--will take advantage of the expanded education IRAs, generating billions of dollars in education savings that might otherwise not exist. It is an outstanding way to provide families new and innovative options in education. Because this legislation has the support of a bipartisan majority of the Senate and is contained in the House-passed bill, I believe it should be given every consideration by the conferees during the negotiations of the conference report.

Mr. ROTH. I yield 10 minutes to Senator Frist.

Mr. ROTH. I yield 2 more minutes.

Mr. ROTH. Mr. President, I ask unanimous consent that, notwithstanding the filing requirement, it be in order for the manager to offer an amendment that has been cleared by both managers.

Mr. ROTH. Mr. President, I yield such time as I may consume. Mr. President, no one in the Senate is more concerned about Medicare and the program's beneficiaries than members of the Finance Committee. This year alone, our committee has held a dozen hearings looking into the needs and future of this important program. We are firm in our commitment to strengthen and preserve Medicare for the Americans who are now a part of the program, and for those who will depend on it in the years ahead. One of our areas of focus concerns prescription drug benefits, and we appreciate the seriousness with which the senior Senator from Massachusetts takes this issue. However, now is not the time and place to address this issue. The carefully crafted bipartisan Taxpayer Refund Act of 1999 leaves over $500 billion of the surplus for Congress to carefully weigh and meet the needs and long-term viability of Medicare. In September, we will turn our attention to addressing this most important concern. But we should not be pressured into simply accepting something that requires our most careful and studied attention. Testifying before the Finance Committee only last week, Comptroller General David M. Walker made it clear that Congress must take great care as we address Medicare reform. He reminded us that Congress has learned some sobering lessons about moving forward, pressed by political expediency to alter such an important program, without benefiting from careful study and deliberation. ``Effectiveness,'' Comptroller Walker reminded our committee, ``involves collecting the data necessary to assess impact--separting the transitory from the permanent, and the trivial from the important.'' ``Steadfastness is needed,'' Mr. Walker said, ``when particular interests pit the primacy of needs against the more global interest of making Medicare affordable, sustainable, and effective for current and future generations of Americans. This makes it all the more important that any new benefit expansion be carefully designed to balance needs and affordability both now and over the longer term.'' Mr. President, Congress cannot haphazardly paste one politically motivated change after another on the Medicare program and call it reform. We must be careful. We must be deliberate. To know how important this is, we simply need to harken back to 1988, when Congress--again out of politics, and in a rush--pasted together the Medicare Catastrophic Coverage Act. Within six months of enacting that legislation, Congress and the people realized the debacle, and we were forced to repeal it within the year. So we've been down this road before, Mr. President. A rush to legislation that not only failed to serve those whom we intended to help, but that actually set back progress more than a decade. There is no question that Medicare reform is necessary. And there is agreement on both sides of the aisle that prescription drugs for the elderly must be a critical component of the reform. But now is not the time to address this issue. I can assure you that the committee will continue to proceed with Medicare reform as a top priority. We look forward to working with Senator Kennedy and others who are concerned about this issue. Likewise, we will continue to give the President's recent proposal careful consideration. By proceeding methodically, but cautiously, Mr. President, Congress will construct a reform package that is complete--one that meets the pressing needs in the lives of the seniors who depend on the Medicare program. The amendment Senator Kennedy offers--as well as the President's prescription drug benefit, as it now stands--provides only limited coverage to Medicare beneficiaries. By waiting . . . by proceeding constructively . . . and by working in a bipartisan effort to reform Medicare, Congress will--in the end-- provide a more complete and lasting reform--reform that will prepare the Medicare program for the new millennium. This effort does not have to wait long. The Finance Committee intends to continue our work on Medicare reform following the August recess. I fully intend to include a prescription drug option as part of the plan we will offer. At that time, the Senate will be able to more fully and carefully examine reform legislation. This will be in the long-term interests of everyone. I compliment Senator Kennedy on his continuing commitment in addressing social needs, but now is not the time to move on it. I ask my colleagues to vote against the Kennedy amendment. I yield the floor.

Mr. ROTH. Mr. President, it was brought up to me, but we haven't had a chance to get it cleared.

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

Mr. ROTH. Mr. President, I suggest the absence of a quorum.

Mr. ROTH. I appreciate the remarks of the Senator from Texas. One of the frustrating things of putting a bill together, although I have to admit it is a very interesting challenge that I much enjoy, is the fact that there are so many things I believe should be done for the American family. It is frustrating that there are limitations as to what we can do. I agree with the distinguished Senator that nothing is more important than eliminating this marriage penalty. Obviously, the sooner we can do it, the better off we are. I thank her for her leadership. For the information of all Senators, I do want to make clear that my concern with the pending amendment had been that it would put us out of compliance with our reconciliation instructions. I was also concerned that the earlier version of the amendment would have relied heavily on delaying the AMT relief. And this delay would hit middle-income Americans very hard. But now we understand, of course, that the Senator from Texas will offer a modification to the filed amendment which will alleviate this offset problem. For that I am very grateful. With these changes, I just say, I look forward to working with the Senator from Texas on having this amendment enacted. Mr. President, I yield the floor. Would the Senator like some more time?

Mr. ROTH. I will be happy to yield.

Mr. ROTH. Mr. President, I suggest the absence of a quorum.

Mr. ROTH. Mr. President, I suggest the absence of a quorum.

Mr. ROTH. I yield to the Senator from Arkansas.

Mr. ROTH. Mr. President, I ask that we temporarily set aside the amendment before us.

Mr. ROTH. Mr. President, I yield myself such time as I may use. First of all, I congratulate the distinguished Senator from Texas for her leadership in this most important matter. I know that as I return to my State of Delaware and talk to people there, it is a matter of real unhappiness and dissatisfaction that there is this marriage penalty. Obviously, for that reason, it is very desirable that we correct it as quickly as possible.

Mr. ROTH. Mr. President, I yield 15 minutes off the bill to the distinguished Senator from Pennsylvania.

Mr. ROTH. I yield back the remainder of my time.

Mr. ROTH. I yield 2 minutes from the bill.

Mr. ROTH. Mr. President, I yield 5 minutes to Senator Lieberman.

Mr. ROTH

Mr. ROTH. I ask unanimous consent that the committee amendment be agreed to.

Mr. ROTH

Mr. ROTH. For the information of all Senators, when the Senate reconvenes on Friday, there will be 30 minutes for closing remarks with respect to the Bingaman amendment and the Hutchison amendment. Two back-to-back votes will then occur at 9 a.m. Following those two votes, any additional amendments will be limited to 2 minutes of debate. Therefore, numerous votes will occur in a stacked sequence. Consequently, Senators are asked not to leave the Chamber in order to conclude the voting process as early as possible.