Floor Statements

Mr. Speaker, I'm very pleased to be the lead Democratic sponsor of the Broad-Based Stock Option Plan Transparency Act of 2005, and I look forward to working with my congressional partner Representative Dreier to move this proposal forward.

As many of my Colleagues are aware, I've long been concerned about the impact of proposed accounting rules on broad-based stock options plans and the employees that benefit from this important employee ownership tool. For a number of years the Financial Accounting Standards Board (FASB) has threatened to require stock options to be deducted from a company's earnings. In fact the first bill I introduced as a Member of Congress in 1993 addressed this important issue.

Last Congress, I was the lead Democratic sponsor of similar legislation sponsored by Representative Richard Baker, and cosponsored by Democratic Leader Nancy Pelosi, Majority Whip Roy Blunt, and over 130 bipartisan cosponsors. The legislation passed the House by an overwhelming margin of 312-111, but the bill wasn't taken up in the Senate, and in December, FASB finalized its mandatory stock options expensing standard. Without this legislation, FASB's rule will take effect in June and companies will be forced to deduct the estimated cost of all employee stock options from their reported earnings.

FASB's mandatory expensing rule would have a terrible impact on companies that rely on options to recruit and retain the most talented employees. Without stock options many of these companies, including some of the most successful high-tech and biotech firms, would not even exist today. As American companies struggle to stay ahead of our global competitors, it makes no sense to handicap them with these onerous new requirements.

Stock options have become associated with corporate scandals and excessive executive compensation, leading to a call for expensing as the ultimate prescription for these problems. But stock options were not the cause of the corporate accounting scandals, and eliminating stock options would do nothing to instill corporate responsibility or accountability. Stock options are already fully disclosed in corporate earnings statements, and the crimes

committed at Enron, Tyco, and other companies would not have been prevented if expensing had been the accounting rule of the day.

If, however, companies are forced to expense stock options, most will drop or severely limit employee option plans because of the prospect of taking a huge and misleading charge against their bottom line in accounting statements. And if mandatory expensing is implemented, most stock options plans will likely be taken away from rank-and-file employees and reserved exclusively for top executives. This is already occurring in anticipation of the new FASB rule.

It's ironic that many are calling for the expensing of stock options in order to reign in executive compensation, when expensing stock options would do little to accomplish tins. Stock option plans or other forms of lucrative compensation for senior executives will undoubtedly continue to be offered.

Rather, rank-and-file employees would be the ones to lose, because they don't get to negotiate with a Board of Directors for their compensation package. Consider this: Only a small portion of employee held options--about 15 percent--are held by corporate management. 14.6 million American workers (13 percent of private-sector workers nationwide) held stock options in 2002.

Some have also argued that FASB's independence must be protected and accounting standards, like other technical rules, should not be set by Congress. While in general this is the case, there are many occasions when expert bodies fail to fully protect the public interest and it's essential that Congress steps in.

For example, the Securities and Exchange Commission, an independent, expert agency, failed to adequately protect investors and the public from the corporate scandals of recent years: Congress stepped in to enact the reforms of the Sarbanes-Oxley Act.

In this case, FASB has concluded this important rulemaking process without the transparency, deliberation, or justification that Congress and the American public should demand. At the outset of its consideration of the expensing rule, the Board Chairman and other Members announced their positions before a single comment from the public was solicited, proceeded to discourage comments on key questions, and disregarded the overwhelming majority of comments it received. The Board refused to conduct ``road tests'' of actual valuation models or of the real costs associated with implementing any new standard. They've also refused to respond to recommended alternatives and compromises.

It's not reasonable to dismiss Congress's responsibility in these matters and ignore the serious shortcomings of FASB's rulemaking on a matter with such important and far-reaching consequences for our economy and our global competitiveness.

The Broad-Based Stock Option Plan Transparency Act would simply ensure that the rules are not implemented before the potential impact of mandatory expensing is given full consideration. The bill includes a 3 year moratorium to allow the SEC to study the impact expensing options may have on our economy and on small, entrepreneurial businesses.

Given the radical change the new rules would establish and the potentially devastating impact on employee ownership programs, Congress has the responsibility to make sure that rules governing stock options are appropriate and implemented responsibly.

Our bill would also enact new disclosure rules for companies who offer stock options. The legislation requires those who offer stock options to disclose additional information to every shareholder and potential investor, including plain-English descriptions of share value dilution, expanded and more prominent disclosure of stock option- related information, and a summary of stock options granted to the five most highly compensated officers.

I urge my Colleagues to support this legislation and protect broad- based employee ownership programs.

Mr. Speaker, due to reasons beyond my control, I was unable to vote February 8 through February 10 of this year. I would like the Record to reflect how I would have voted on the following votes.

On rollcall vote No. 20 I would have voted ``yea,'' on rollcall vote No. 21 I would have voted ``yea,'' on rollcall vote No. 22 I would have voted ``yea,'' on rollcall vote No. 23 I would have voted ``no,'' on rollcall vote No. 24 I would have voted ``yea,'' on rollcall vote No. 25 I would have voted ``yea,'' on rollcall vote No. 26 I would have voted ``yea,'' on rollcall vote No. 27 I would have voted ``no,'' on rollcall vote No. 28 I would have voted ``yea,'' on rollcall vote No. 29 I would have voted ``yea,'' on rollcall vote No. 30 I would have voted ``yea,'' on rollcall vote No. 31 I would have voted ``no.''

Mr. Speaker, due to reasons beyond my control I was unable to vote on February 1st, or February 2nd of this year. I would like the Record to reflect how I would have voted on the following votes.

On rollcall vote No. 14, I would have voted ``yea.''

On rollcall vote No. 15, I would have voted ``yea.''

On rollcall vote No. 16, I would have voted ``nay.''

On rollcall vote No. 17, I would have voted ``yea.''

On rollcall vote No. 18, I would have voted ``yea.''

On rollcall vote No. 19, I would have voted ``yea.''

Mr. Speaker, I'm very pleased to join my colleague Representative Pickering in introducing the Arthritis Prevention, Control and Cure Act of 2005, which authorizes programs and funding that will allow the Federal Government to better coordinate and increase our investment in efforts to prevent, treat, and care for persons with arthritis and related diseases. The bill represents the most significant Federal effort to address arthritis since the passage of the National Arthritis Act a generation ago. The Arthritis Prevention, Control and Cure Act of 2005 addresses this important issue by:

Enhancing the National Arthritis Action Plan by providing additional support to federal, state, and private efforts to prevent and manage arthritis;

Developing a National Arthritis Education and Outreach Campaign to educate the healthcare profession and the public on successful self- management strategies for controlling arthritis;

Organizing a National Arthritis and Rheumatic Diseases Summit to look at challenges and opportunities related to basic, clinical and translational research and development efforts;

Providing greater attention to the area of juvenile arthritis research through the creation of planning grants for innovative research specific to juvenile arthritis, as well as the prioritization of epidemiological activities focused on better understanding the prevalence, incidence, and outcomes associated with juvenile arthritis; and

Creating incentives to encourage health professionals to enter the field of pediatric rheumatology through the establishment of an education loan repayment and career development award programs.

Arthritis is the leading cause of disability in the United States with 70 million Americans living with a form of the disease. With the

aging of the baby boomers, the Centers for Disease Control and Prevention, CDC, predicts the number of people over 65 with arthritis or chronic joint symptoms will double by 2030. Nearly 300,000 children in the United States are living with a form of juvenile arthritis. Arthritis is a painful and debilitating chronic disease affecting men, women and children alike.

Currently, the Federal investment in juvenile arthritis research is only $23 per affected child. The CDC estimates that the annual cost of medical care for arthritis is $51 billion, and the annual total costs, including lost productivity, exceed $86 billion. Early diagnosis, treatment, and appropriate management of arthritis are critical in controlling symptoms and improving quality of life.

In 1975, nearly 30 years ago, Senator Alan Cranston of California introduced the last major piece of arthritis legislation. It was signed into law by President Gerald Ford. The bill, the National Arthritis Act, set our Nation on an important path in the fight against arthritis. It led to the creation of an institute at NIH focused on arthritis, and laid the foundation for a national arthritis public health strategy.

Today, arthritis is still claiming the lives of millions of Americans and we must reinvigorate our research and education efforts to offer individuals with arthritis more hope for a better life and eventually a cure. I believe the Arthritis Prevention, Control and Cure Act of 2005 will do just that.

Mr. Speaker, I rise today to honor a distinguished American, Dr. S. Paul Ehrlich, who died on January 6, 2005.

Dr. Ehrlich served our Nation with great distinction as Acting Surgeon General in the Nixon, Ford and Carter administrations and as the United States Representative to the World Health Organization. He received the Public Health Service's Outstanding Service Medal, the Distinguished Service Medal and the Meritorious Service Medal. Dr. C. Everett Koop, the Surgeon General under President Reagan, said that Dr. Ehrlich ``did more than anyone I've ever known for American health.''

Dr. Ehrlich was among six Surgeons General who in 1994 urged Congress to ban smoking in public buildings and to enact stricter controls on secondhand smoke and the sale and advertising of tobacco. His commitment to the health of all Americans and to stopping the spread of AIDS led him to oppose a federal policy that would require minors to get parental consent before receiving contraceptives and information on birth control.

Dr. Ehrlich was born and educated in Minnesota, where he earned his medical degree. He served our Nation in the Coast Guard, and received a master's degree in Public Health from the University of California. He taught at Georgetown University, the University of Texas and the University of California. He was diagnosed with Multiple Sclerosis in 1981 and lived bravely with the challenges of his disease for more than twenty years.

Dr. Ehrlich was the devoted husband of Geraldine McKenna Ehrlich, proud father of three accomplished and loving daughters, Susan, Paula, and Jill, and the doting grandfather of one.

It has been a personal privilege to have known the Ehrlich family for many years and to have had Jill Ehrlich Robinson as my Legislative Director and Chief of Staff. Her integrity and public service are an eloquent statement about she and her father who gave so much to better our country.

Mr. Speaker, I ask my colleagues to join me in honoring this good and great American and in extending our deepest sympathy to his family. Dr. Ehrlich's life as an outstanding physician bettered the health and the soul of our Nation.

Mr. Speaker, education remains one of the top priorities of our country, and today's tribute calls attention to some of our finest learning institutions, the Catholic schools in our country. I'm proud to stand today to pay tribute and express my appreciation for the Catholic schools across our Nation. They are truly doing great work to educate and prepare our children to be fine adults.

They have shaped generations to be fine citizens. As the product of a Catholic school myself, I know that it was the Sisters of Notre Dame de Namur who helped shape my character and my values. My children are the beneficiaries of a Catholic school education as well. As a graduate of the Convent of the Sacred Heart, my daughter has continued the tradition of Catholic education, currently serving as the Principal of St. Joseph's School of the Sacred Heart in Atherton, CA.

Today, over 2.5 million children are enrolled in Catholic schools, with 14 percent of them being non-Catholics. Today's resolution supports the goals of Catholic schools and congratulates all those involved on a job well done, the religious and the lay teachers who strive to instill the timeless tenets of faith, hope, and charity.

I'm very proud that the House of Representatives has continued the tradition of recognizing the great service Catholic schools provide and it is my privilege to thank all those, past and present, for the extraordinary contributions they've made to our country by preparing the young for citizenship steeped in decency, charity, tolerance and love.

Mr. Speaker, the debate today is not about contesting the results of the last November's election. Today's debate cuts to the essence of our democracy--the founding principle of our country--the right to vote. Clearly, the right to vote is dependent on the assurance that all voters have access to the polls and that all votes will be counted. But since the presidential election in 2000 the American public has grown increasingly wary of the accuracy and integrity of our elections, and I applaud my colleagues for their efforts to bring focus to this issue. It's essential that we bring attention to the serious problems facing our electoral system.

It's up to Congress to restore confidence in our elections, and I call on all Members to make this a priority in the 109th Congress. The 2000 Presidential Election spurred a series of reforms, and Congress took important first steps to improve our system of voting. I was proud to cosponsor the Help America Vote Act, which did much to upgrade our electoral process and create national standards for conducting elections. However, I'm disappointed that subsequent efforts to increase the security and reliability of our Increased Accountability Act in the 108th Congress, I supported requiring verifiable paper trails for all voting machines, a step that would provide a significant boost to voter confidence and allow for expedited recounts. Unfortunately, this legislation was not considered prior to the 2004 election, and the House majority leadership refused to even bring it up in committee. This issue must be revisited and legislation should be promptly passed in the 109th Congress.

Democratic elections are the foundation of all democracies, and thousands of Americans have died--and continue to die every day--for the right to vote. The United States of America should set the standard for fair and accurate elections, and the reported irregularities tell us that we continue to fall short. One need not believe in conspiracy theories or maintain that the outcome in Ohio was invalid to recognize that we still suffer from serious shortcomings in our electoral process.

I urge my colleagues not to let this opportunity slip buy. We must promptly pass electoral reforms that will ensure that the results of our elections are beyond reproach and accepted by all voters.

Mr. Speaker, I thank the distinguished dean of the California Democratic delegation for yielding me this time.

Mr. Speaker, I rise tonight with a broken heart. And the way I would like to formulate my remarks tonight is having a conversation with Bob, because it is the best way I know how. I would say to him almost every time we were on the floor together, Bob, I want to tell you something. So, Bob, tonight I want to tell you some more things.

We are broken hearted that you are gone and we cannot believe it. We have a hole in our hearts, and we have a hole in our caucus; and everywhere we have turned, we have seen you on the floor today. Our joy in being sworn in as new Members of Congress has been diminished because you are not standing here physically next to us. Thank you for being the kind of friend that you were. Just the best. Loyal, fun, serious, aggressive on all the right things. Thank you for never being embittered by the experience that your family, American citizens, third-generation Americans, were subjected to by their own government. And you grew and you rose, and you were an example to our country of what one can become because of the opportunity of America.

You understood, Bob, thank you, that America is the best idea that was ever born. But you went beyond that because you reached deep inside of yourself and brought out the best in everyone, in the ideas that you brought here, in the ideas that you fought for.

Remember how grateful we are to you that you carried us in the last 2 years, that you believed and we were so proud that you were a Democrat, and you were the kind of Democrat that understood that if it was only good for the Democratic Party that that was not good enough, that we needed to be great for our country; and you believed that.

Thank you for believing in Social Security. Thank you for the countless times that you said we are going to win that battle. Thank you for what you said to me the last time we were together: you know, Anna, that corporations by the law of the Congress cannot dip into their pension funds and borrow from them. Now why would it stand to reason that the American government, the Congress, the administration continues to dip into Social Security? That is not the right way to go.

So all of your dignity, Bob, that magnificent face of yours that took on age with wisdom, thank you for laughing when I said to you how proud I am, Bob, that your granddaughter bears the name Anna. He really laughed when I said that, said, I did not realize that you loved me so much.

Bob, we all loved you. You showed us what it is to be a Member of the Congress of the United States. In the House of the people of all of the people, you are always going to be standing next to us. What you did here is not lost.

Thank you, Doris, for being the partner that you are and always will be. Thank you, Brian, for being the son that you have been. Thank you, Amy, and thank you, Anna. We are going to treasure you always. But the most important thing is, Bob, we will never ever lose what you did here. We are going to carry it every day. It is the gold and the myrrh of all of us. Thank you, Bob. We love you.

Mr. Speaker, I rise to honor Sheila Peterson, who was recently honored with the highest award of Sacred Heart Schools, the St. Madeleine Sophie Medal by the Schools of the Sacred Heart in Atherton, California.

Sheila and her family have had a long connection to the Sacred Heart Schools. First, she had a great aunt who was part of the convent in St. Charles, Missouri. Next, her mother, Winifred Carreras Sullivan went to Jackson Street and Lone Mountain, where she made great lifelong friends. Winnie married Raymond Sullivan, later a distinguished Justice of the California Supreme Court, and Sheila, the eldest of their five children, ``met'' the Sacred Heart at Broadway in the 7th grade.

Ever since, Sheila has found a connection and a place with Sacred Heart. To quote Sheila, ``Sacred Heart/Menlo/Atherton is our place: The first generation was my great aunt; the second was my mother; the third, my sisters and I; the fourth, the Peterson and Sullivan cousins. And at present, my son is on the English faculty and our cousin, Elizabeth is the new Alumni Director. I hope that someday, at some Sacred Heart School, they will find the same satisfaction that I received from helping here''.

Over the years, Sheila's involvement with Sacred Heart has taken many forms. She has served as a Room Mother (sometimes for all three of her children), Parent Club Head, substitute teacher, soccer coach, and Auction worker in the Main Building Basement. She has had a hand in sports activities, field trips, drama, the Booster Club, the school's Annual Fund, two Capital Campaigns, and ultimately helped to plan the Centennial Celebration for Sacred Heart. Sheila has recently been working as the Events Coordinator, and as always, doing an extraordinary job.

In 1987, Sheila served on the Board of Trustees. With the support of her husband, Ron, and three children, Molly, Katie, and Michael, she guided the school through the Loma Prieta earthquake, subsequent discussions and contentions about repair or razing, tight finances, a small endowment, and the co-ed Prep in the early stages. All these weighty issues took time and great commitment. Sheila served with distinction and her prudent, wise leadership has benefited Sacred Heart Schools immensely.

Mr. Speaker, I ask my colleagues to join me in honoring this great and inspiring member of our community, Sheila Peterson, as she is honored with the St. Madeleine Sophie Medal.

Mr. Speaker, I rise to honor William Neidig, who was recently honored with the prestigious St. Madeleine Sophie Medal by the Schools of the Sacred Heart in Atherton, California.

Bill grew up on the east coast and graduated from Princeton University with an engineering degree before coming West to attend the Business School at Stanford University. After graduation, Bill and his wife Christy settled in Palo Alto because of the city's outstanding public school system, and Bill began in the real estate business.

Fate intervened and the Neidig's enrolled their daughter Stephanie in the kindergarten at St. Joseph's. Bill says that growing up he had never really known a nun. But after meeting the Religious of the Sacred Heart he came to appreciate the well educated women who have devoted themselves to educating his children, and he was sold on the school and wanted to help out.

Bill joined the Building and Grounds Committee in 1990 and joined the board of trustees in 1991, where he has continued to serve ever since, except for a mandatory one year sabbatical. In this capacity, Bill worked diligently to maintain and upgrade the facilities and grounds at Sacred Heart. He has been involved in upgrading St. Joseph's classrooms, offices, and science lab. He developed Spieker Pavilion, the Main Building, the Aquatics Center, the West Wing and the library, the football field, the track and tennis facilities, and most recently the Performing Arts Center. At no other time in the history of Sacred Heart Schools Atherton has so much been accomplished in such a short time period.

Bill has also served on the Finance Committee, where his familiar cry, ``Less is more, but will it do everything you need?'' has been a guiding principle in the financial decisions of the school.

Bill knows how to ask the right questions and get the right answers. Whenever something needs to be done, he can be counted on to make sure it gets done. He has been extraordinarily giving of his time and talent, and his support for Sacred Heart Schools is an inspiration to all.

Mr. Speaker, I ask my colleagues to join me in honoring this great and inspiring man, William Neidig, as he is honored with the St. Madeleine Sophie Medal.

Mr. Speaker, I thank the distinguished ranking member and the chairman of our committee for the work that they have done together. I think the American people are proud.

This has been a very tough journey to arrive here tonight with a conference report to reform the intelligence community of our country. And yet we know, and all Americans know, that the status quo is not good enough. The status quo has been in place throughout the Cold War and post-Cold War. Yet ever since our country was attacked, there is not anyone that could say that all systems were running the way they should.

And so with gratitude to the families of the victims, who, as our leader said a few moments ago, have inspired us and inspired the country, with the President supporting the bill, with the leadership of both parties supporting the bill, with the support and the recommendations of the 9/11 Commission, who did such superb work for the people of our country, there is no reason why the House of Representatives should not vote in its entirety in support of this bill that reforms our intelligence community.

I think it falls short on oversight, and that should be taken up in the new Congress because it is an important, critical role of the Congress. But I am very proud to stand with my colleagues and the Democrats who introduced an inspirational bill 8 months and 6 days ago that mirrored the recommendations of the commission. I urge all my colleagues to support this bill.

Mr. Speaker, I rise to honor Shirley Connolly, who was recently honored with the prestigious St. Madeleine Sophie Medal by the Schools of the Sacred Heart in Atherton, California.

Shirley was born in Helena, Montana and became a San Franciscan at the age of seven. She graduated from the San Francisco College for Women, better known as Lone Mountain College, with a Bachelor's Degree in History and World Literature, and later received a Master's from Lone Mountain in

American History. Shirley also completed graduate courses in Education at Boston University and Harvard University.

Shirley's heart was always with Lone Mountain and she continued her dedication to her alma mater, always being a shining example of her willingness to take on a tough job whenever needed. After Lone Mountain closed, official alumnae activities understandably waned and it became difficult to keep graduates and faculty in touch with one another. This became Shirley Connolly's challenge. She has worked hard to preserve this community, leading the Alumnae Association for many years and enabling students and their RSCJ teachers to continue or rekindle their Lone Mountain relationships.

Shirley began her own teaching career over 40 years ago at St. Joseph's School in Atherton. After 4 years at Lone Mountain and 3 years in the Religious Formation Program, Shirley was ready, willing and able to begin her career educating girls and young women. Her first teaching assignment was a classroom of 35 eighth-grade girls and boys. Shirley's warmth and wisdom were more than a match for the eighth graders, and this was the beginning of her long and tremendously successful relationship with St. Joseph's.

Shirley spent 2 years in what was then Menlo Park, and then moved to San Francisco where she served as a teacher, Dean of Students and Director of Studies at the Schools of the Sacred Heart there. After a brief stint in Newton, Massachusetts, Shirley joined the California Province of the Sacred Heart. This role gave her the opportunity to develop one of her greatest gifts, the ability to train teachers. Even today, she is highly regarded and remembered throughout the Sacred Heart community for this skill. One of her pupils described her as someone who had the common sense to sort through all the academic training and understand and pass on what young teachers really needed to know. After this stint with the Province, Shirley returned to Menlo Park in 1973, serving as Principal of the high school under Sister Nancy Morris until 1975.

In 1976, Shirley set off on a new path, joining the Catholic Telemedia Network in Menlo Park. She stayed with CTN until 2002, rising through several positions to become General Manager for her last 10 years there.

Shirlley has a gift for combining crystal clarity and great wisdom with diplomacy, humility and kindness. She is the most generous, selfless person one could ever know. She is always available to assist whomever needs help, whenever they need it, without question, complaint, or regard to her own needs.

Shirley has been the best friend to the resident of Oakwood over the years, always dropping whatever she is doing to help with whatever needs to be done. She served as Chair of its Board of Directors for several years, and has recently accepted an invitation to return to this Board.

Mr. Speaker, I ask my colleagues to join me in honoring this great and good woman, Shirley Connolly, as she is honored with the St. Madeleine Sophie Medal.

Mr. Speaker, I rise to honor Joan Eagleson, who was recently honored with the highest award of Sacred Heart Schools, the St. Madeleine Sophie Medal by the Schools of the Sacred Heart in Atherton, California.

An extraordinary educator at St. Joseph's School, Joan has said her greatest teachers are the children she works with every day. The children are her delight and lifeline. Joan believes children are grounding and one has only to listen to their truth and see their beauty. Joan's ability to really hear children draws them to her and she is always there for them.

Joan received her MA in Counseling from the College of Notre Dame. Recognizing the need for children to be heard, she spearheaded the Middle School Advisory Program and the Rainbows Program. Joan is marvelous at helping children recognize the light and love in themselves. One student said, ``Have you ever noticed how good you feel about yourself after talking with Mrs. Eagleson?'' What better testimony to Joan's ability to bring out the best in a person.

When Sister Ann McGowan, RSCJ hired Joan 16 years ago, she was given the opportunity to teach and run the library. Joan recalls with gratitude Sister Helen Daly's mentoring. Sister Daly saw in Joan the capacity to become a bridge where children could find consolation and support in the new and mysterious world of books and learning. Anyone who has ever walked through St. Joseph's library can feel it is a welcoming place of comfort, warmth, trust and generosity. Joan doesn't fit the stereotype of the librarian who only says, ``Shh, be quiet.'' Joan creates an atmosphere of enthusiasm for learning, a place where children have time to discover, to be curious, to be imaginative, to know the value of not knowing and then, of asking the question and knowing how and where to find the answer. Most importantly, Joan guides children to recognize that what is essential they have within.

When asked what she hoped for the children to learn at St. Joseph's School, Joan said, ``the value of simplicity and balance in life; the value of time to be; the value of being present to the moment; the value of embracing life wholeheartedly; the value of working in community; the value of human touch; the value of experiencing joy in the process of learning.''

Mr. Speaker, I ask my colleagues to join me in honoring this great and inspiring educator, Joan Eagleson, as she is honored with the St. Madeleine Sophie Medal.

Mr. Speaker, I'm pleased to rise today in support of the conference report on H.R. 1350, the Improving Education Results for Children with Disabilities Act. While the bill before us is not perfect, it is a vast improvement from the bill the House passed over 19 months ago and represents a bipartisan effort to improve the Individuals with Disabilities Education Act (IDEA).

There does remain a glaring problem that has yet to be resolved with respect to IDEA. Congress has yet to fully fund IDEA at the 40-percent level that was the original promise Congress made almost 30 years ago. Without this funding, we will continue to overburden local school districts with costs of Federal mandates relative to special education programs. This is unfair.

Too often we fund education on the cheap--shortchanging title I, the No Child Left Behind Act, Pell Grants . . . the list goes on and on. We need to set an example by staying true to our word. Until Congress agrees to fulfill its 30-year promise to fund IDEA, we really can't say we're leaving no child behind.

In closing, I reiterate my support for the bill before us and remain hopeful that in the 109th Congress we will finally fully fund this important act.

Mr. Speaker, it is with great disappointment that I rise in opposition to this Conference Report. I opposed the House version of this bill in June and hoped that what would come out of the Conference Committee would be an improvement. Instead, what we see before us is much worse.

I wish I could support this legislation because it does contain some worthwhile reforms that will benefit the economy and eliminate harmful tariffs. Some of the provisions included in this legislation would greatly benefit businesses within my district. I strongly support the inclusion of incentives for corporations to repatriate their overseas profits which would stimulate the investment of hundreds of millions of dollars in our domestic economy and, in fact, worked hard to get this provision in the bill. I cannot support a $140 billion grab-bag of special interest handouts to solve a $4 billion problem.

We had a simple job to do: to repeal the current export subsidy that led the World Trade Organization (WTO) to authorize tariffs against American goods. Rather than using this bill to bring the United States back into compliance with the WTO, it's become a Christmas tree for pet projects all over the country. Included in this legislation are handouts for tobacco growers, tackle box manufacturers, bow and arrow manufacturers, importers of ceiling fans, and even NASCAR race tracks.

What's worse is that this legislation does nothing to protect jobs here at home. Instead, it encourages them to be out-sourced. Despite the fact that we've lost 1.7 million jobs since this Administration took office, the Conference Report includes 24 separate provisions that actually encourage shipping more of our jobs overseas at a cost of $42 billion. The Senate-passed version of this bill included a provision that would have closed offshore tax shelters established for the sole purpose of avoiding U.S. taxes. This Conference Report re-opens them, leaving the American taxpayer to foot the bill.

I urge my colleagues on both sides of the aisle to oppose this legislation. It is not the right prescription for what ails us.