[Congressional Record Volume 141, Number 107 (Wednesday, June 28, 1995)]
[Daily Digest]
[Pages D799-D800]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                                               Wednesday, June 28, 1995 

[[Page D 799]]


                              Daily Digest


HIGHLIGHTS

      Senate passed Private Securities Litigation Reform Act.


                                 Senate

Chamber Action
Routine Proceedings, pages S9199-S9323
Measures Introduced: Seven bills were introduced, as follows: S. 975-981.
  Page S9305
Measures Reported: Reports were made as follows:
  Special Report of the Committee on Rules and Administration of a review of 
the legislative activity during the 103d Congress. (S. Rept. No. 104-100)
Page S9305
Measures Passed:
   Private Securities Litigation Reform Act: Committee on Banking, Housing, 
and Urban Affairs was discharged from further consideration of H.R. 1058, to 
amend the Federal securities laws to curb certain abusive practices in 
private securities litigation, and by 69 yeas to 30 nays, 1 responding 
present (Vote No. 295), the bill was then passed, after striking all after 
the enacting clause and inserting in lieu thereof the text of S. 240, Senate 
companion measure, after agreeing to the committee amendment in the nature 
of a substitute, and taking action on further amendments proposed thereto, 
as follows:
  Pages S9199-S9226
Adopted:
  (1) By 57 yeas to 42 nays, 1 responding present (Vote No. 293), Specter 
Amendment No. 1485, to clarify the standard plaintiffs must meet in 
specifying the defendant's state of mind in private securities litigation.
Pages S9200-01
Rejected:
  (1) Boxer Amendment No. 1480, to exclude insider traders who benefit from 
false or misleading forward looking statements from safe harbor protection. 
(By 56 yeas to 42 nays, 1 responding present (Vote No. 294), Senate tabled 
the amendment.)
Pages S9201-02
  (2) Specter Amendment No. 1483, to provide for sanctions for abuse 
litigation. (By 57 yeas to 38 nays, 1 responding present (Vote No. 291), 
Senate tabled the amendment.)
Pages S9199-S9200
  (3) Specter Amendment No. 1484, to provide for a stay of discovery in 
certain circumstances. (By 52 yeas to 47 nays, 1 responding present (Vote 
No. 292), Senate tabled the amendment.)
Page S9200
  Subsequently, S. 240, Senate companion measure, was returned to the Senate 
calendar.
Page S9226
   Authorizing Use of Capitol Grounds: Senate agreed to H. Con. Res. 38, 
authorizing the use of the Capitol grounds for the Greater Washington Soap 
Box Derby.
  Page S9323
Congressional Budget--Conference Report: Senate began debate on the 
provisions of the conference report on H. Con. Res. 67, setting forth the 
congressional budget for the United States Government for fiscal years 1996, 
1997, 1998, 1999, 2000, 2001, and 2002.
  Pages S9236-60, S9296-S9304
Comprehensive Regulatory Reform Act: Senate began consideration of S. 343, 
to reform the regulatory process, with committee amendments in the nature of 
a substitute.
  Pages S9261-96
  Senate will resume consideration of the bill on Thursday, June 29, 1995.
Messages From the President: Senate received the following messages from the 
President of the United States:
  Transmitting the report of the Corporation for Public Broadcasting; 
referred to the Committee on Commerce, Science, and Transportation. (PM-58).
Page S9304
Nominations Received: Senate received the following nominations:
  George D. Milidrag, of Michigan, to be a Member of the Advisory Board of 
the Saint Lawrence Seaway Development Corporation.
  Lawrence H. Summers, of Massachusetts, to be Deputy Secretary of the 
Treasury.
  Frances D. Cook, of Florida, to be Ambassador to the Sultanate of Oman.
  J. Stapleton Roy, of Pennsylvania, to be Ambassador to the Republic of 
Indonesia.
  Thomas W. Simons, Jr., of the District of Columbia, to be Ambassador to 
the Islamic Republic of Pakistan.
  John M. Yates, of Washington, to be Ambassador to the Republic of Benin.
Page S9323
Messages From the President:
  Page S9304
Messages From the House:
  Pages S9304-05
Measures Referred:
  Page S9305 

[[Page D 800]]

Executive Reports of Committees:
  Page S9305
Statements on Introduced Bills:
  Pages S9305-08
Additional Cosponsors:
  Pages S9308-09
Authority for Committees:
  Pages S9309-10
Additional Statements:
  Pages S9310-15
Record Votes: Five record votes were taken today. (Total--295)
  Pages S9199-S9202, S9219
Recess: Senate convened at 8:40 a.m., and recessed at 7:08 p.m., until 9 
a.m., on Thursday, June 29, 1995. (For Senate's program, see the remarks of 
the Acting Majority Leader in today's Record on page S9323.)