[Congressional Record Volume 143, Number 8 (Tuesday, January 28, 1997)]
[Senate]
[Pages S729-S730]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. McCAIN (for himself, Mr. Thompson, Mr. Kerry, Mr. 
        Feingold, Mr. Kennedy, Mr. Coats, Mr. Glenn, Mr. Lieberman, and 
        Mr. Brownback):
  S. 207. A bill to review, reform, and terminate unnecessary and 
inequitable Federal subsidies; to the Committee on Governmental 
Affairs.


              the corporate subsidy reform commission act

 Mr. McCAIN. Mr. President, today I am introducing legislation 
to establish an independent, nonpartisan Commission to eliminate 
corporate pork from the Federal budget.
  The nine-member Commission, called the Corporate Subsidy Reform 
Commission, would be charged with reviewing all Federal subsidies to 
private industry, including special interest tax provisions. The 
Commission would identify those programs which are unnecessary, unfair, 
or not in the clear and compelling public interest, and recommend them 
to Congress for reform or termination. Congress would then be required 
to consider and vote on a comprehensive corporate subsidy reform 
package under expedited floor procedures.
  Mr. President, our Nation cannot continue to bear the financial 
burden of servicing an ever-growing $5.3 trillion national debt--which 
equates to more than $19,000 in debt for every man, woman, and child in 
the country. We are asking millions of Americans--from families who 
receive food stamps to our men and women in uniform--to sacrifice in 
order to rein in our annual budget deficits and begin to pay down that 
debt.
  As a matter of simple fairness, we have an obligation to ensure that 
corporate interests share the burden of deficit reduction. Last year, 
the CATO Institute and the Progressive Policy Institute identified 125 
Federal programs that subsidize industry to the tune of $85 billion 
every year, and the Progressive Policy Institute found an additional 
$30 billion in tax loopholes for powerful industries.
  The American public cannot understand why we continue to pay these 
huge subsidies to corporate interests,

[[Page S730]]

at a time when we are asking average private citizens to tighten their 
belts. Corporate pork cannot be justified in an environment where our 
highest fiscal priority is balancing the Federal budget.
  Let me say very frankly that I do not generally like the idea of 
commissions. It is a sad commentary on the state of politics today that 
the Congress cannot even cut those programs that are obviously 
wasteful, unnecessary, or unfair. Unfortunately, however, Members of 
Congress have demonstrated time and again their unwillingness to cut 
programs that serve their own interests.
  For many years, I have tried to cut wasteful and unnecessary spending 
from the annual appropriations bills--with only limited success, I must 
admit. A little over a year ago, I offered an amendment to eliminate 12 
particularly egregious corporate pork barrel programs, and I garnered 
only 25 votes in the Senate.
  Clearly, Members will not gore their own ox, unless others are forced 
to do the same. The recently ordered military base closures were 
finally accomplished only through the workings of an independent 
commission established by Congress. It appears we have reached a point 
that, unless congress is forced to act to eliminate programs, it will 
not. Perhaps independent commissions are the only fair way to ensure 
that neither side is given an advantage to protect their special 
interest corporate pork.
  The independent commission and expedited congressional review process 
established by this legislation would depoliticize the process and 
guarantee that the pain is shared. In reality, the corporate pork 
commission is probably the only means of achieving the meaningful 
reform that the public and our dire fiscal circumstances demand.
  Mr. President, corporate pork wastes resources, increases the 
deficit, and distorts markets. Corporate pork has no place either in a 
free-market economy or in a budget where we are asking millions of 
Americans to sacrifice for the good of future generations.
  Finally, Mr. President, I want to take a moment to thank my 
cosponsors on both sides of the aisle--Senators Thompson, Kerry, 
Feingold, Kennedy, Coats, Glenn, Lieberman, and Brownback--and 
Congressman Kasich, who will introduce similar legislation in the 
House. I also want to thank the several private organizations who have 
lent their good names in support of this legislation--the Progressive 
Policy Institute, Citizens Against Government Waste, and Friends of the 
Earth--and I ask unanimous consent that statements of support from 
these organizations be included in the Record. With their help, I 
intend to pursue this effort in the 105th Congress to 
enactment.
                                 ______