[Congressional Record Volume 144, Number 135 (Thursday, October 1, 1998)]
[Senate]
[Page S11239]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           FINANCIAL SERVICES ACT OF 1998--MOTION TO PROCEED


                             Cloture Motion

  Mr. LOTT. In light of the objection, I now move to proceed to H.R. 
10, and send a cloture motion to the desk.
  The PRESIDING OFFICER. The cloture motion having been presented under 
rule XXII, the Chair directs the clerk to read the motion.
  The assistant legislative clerk read as follows:

                             Cloture Motion

       We the undersigned Senators, in accordance with the 
     provisions of Rule XXII of the Standing Rules of the Senate, 
     do hereby move to bring to a close debate on the motion to 
     proceed to Calendar No. 588, H.R. 10, the financial services 
     bill.
         Trent Lott, Alfonse D'Amato, Wayne Allard, Y. Tim 
           Hutchinson, Dan Coats, Rick Santorum, Robert F. 
           Bennett, Jon Kyl, Gordon Smith, Craig Thomas, Pat 
           Roberts, John Warner, John McCain, Frank H. Murkowski, 
           Larry E. Craig, and William V. Roth, Jr.

  Mr. LOTT. Mr. President, for the information of all Senators, this 
cloture vote, then, will occur on Monday. All Members will be notified 
as to the exact time of the vote when it becomes available.
  I want to say at this point, I certainly understand the concerns of 
the Senator from Texas and the Senator from Alabama. I have talked to 
them several times, and I know that they still have concerns about what 
is in this bill. I am assuming they will be working with the chairman 
of the committee and other Senators that have concerns to work 
something out. I believe we are at a historic point with regard to 
financial services. That can be completed if everybody will work 
together in this week that we have left.
  I had delayed filing cloture earlier, including Monday, Tuesday and 
Wednesday, because there were objections on both sides of the aisle 
about various and sundry things, but also I wanted to give everybody 
time to work through their problems. I really felt like that until we 
pushed this forward and had the cloture on a motion to proceed, the 
remaining problems were not going to be worked out.
  I, again, call upon Senators on both sides of the aisle and the 
chairman and the ranking member to work with the Senators that have 
concerns from both parties so that we can get this completed.
  This is the first time we will have had major financial services 
reform and modernization since 1932. We need to get it done. So I hope 
that can be accomplished. And I urge the Senators to keep working and 
keep me posted on the progress that is being made.
  Mr. President, I ask unanimous consent that the mandatory quorum 
under rule XXII be waived.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  Mr. LOTT. I now withdraw the motion to proceed.
  The PRESIDING OFFICER. The motion is withdrawn.

                          ____________________