[Congressional Record (Bound Edition), Volume 147 (2001), Part 12]
[Senate]
[Pages 17248-17249]
[From the U.S. Government Publishing Office, www.gpo.gov]



  TREASURY AND GENERAL GOVERNMENT APPROPRIATIONS ACT, 2002--Continued

  The PRESIDING OFFICER (Mr. Nelson of Nebraska). The Senator from 
Kentucky.
  Mr. McCONNELL. Mr. President, is there an amendment pending?
  The PRESIDING OFFICER. There is not.


                           Amendment No. 1573

  Mr. McCONNELL. Mr. President, I send an amendment to the desk on 
behalf of myself and Senator Burns.
  The PRESIDING OFFICER. The clerk will report.
  The legislative clerk read as follows:

       The Senator from Kentucky [Mr. McConnell], for himself and 
     Mr. Burns, proposes an amendment numbered 1573.

  Mr. McCONNELL. Mr. President, I ask unanimous consent that reading of 
the amendment be dispensed with.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment is as follows:

(Purpose: To authorize the Secretary of the Treasury to issue War Bonds 
 in support of recovery and response efforts relating to the September 
 11, 2001, hijackings and attacks on the Pentagon and the World Trade 
                                Center)

       At the end of title VI, insert the following:
       Sec.   . (a) From funds made available by this or any other 
     Act, the Secretary of the Treasury may provide for the 
     administrative costs for the issuance of bonds, to be known 
     as `War Bonds', under section 3102 of title 31, United States 
     Code, in response to the acts of terrorism perpetrated 
     against the United States on September 11, 2001.
       (b) If bonds described in subsection (a) are issued, such 
     bonds shall be in such form and denominations, and shall be 
     subject to such terms and conditions of issue, conversion, 
     redemption, maturation, payment, and rate of interest as the 
     Secretary of the Treasury may prescribe.

  Mr. McCONNELL. Mr. President, I rise today to offer an amendment 
which would authorize the Secretary of the Treasury to use such funds 
as he deems appropriate to establish and make available war bonds for 
purchase.
  I am proud that along with a bill that Senator Burns and I have 
offered which is pending as this amendment, there are at least four 
other measures which have been offered that would create a new 
investment vehicle for Americans who are anxious to contribute to the 
war on terrorism. Clearly, the Congress and the American people are 
anxious to establish such a program.
  Each of the bills which have been introduced are similar. In fact, 
two of them adapt the language Senator Burns and I originally 
introduced almost verbatim. It is safe to assume that the goal of each 
of the sponsors is identical. That goal is to develop a way for 
patriotic Americans to contribute directly to the effort to rebuild the 
broken and retaliate against the enemy of international terrorism.
  How many times have we heard over the last few days from our 
constituents: What can I do to help? The war bond is a way to help.
  There has been a great deal of wonderful and soaring rhetoric on 
display since the terrible attacks of September 11, 2001. These words 
have helped our Nation steel its resolve and recognize the imperative 
of rooting out terrorism wherever it may lurk. As a result, the public 
is unified in its desire to take decisive action. The legislation that 
Senator Burns and I are offering today would allow the Secretary of 
Treasury to channel and sustain American compassion and unity.
  Specifically, we propose allowing the Secretary to establish a new 
form of U.S. savings bond that would be designated war bonds. The war 
bonds would be in such form and denominations and be subject to such 
terms and conditions that the Secretary deemed most appropriate.
  Some have pointed out that current economic conditions may argue 
against the need for war bonds to be used as a tool for funding the war 
on terrorism. I argue that view misses the most important point. There 
is no question that America is the most powerful nation economically 
and militarily on earth. However, what is less certain is the very 
nature of this effort, and a war bond campaign could be an invaluable 
tool for the government to explain the complex nature of the threats we 
face and rally all Americans to help provide necessary responses.
  If the Government chooses to engage in this effort, I envision a war 
bond drive similar to those that were so successful during World War 
II. Influential Americans could be engaged to lead the education effort 
across the country, and all Americans would have the ability to 
participate in what is going to be a lengthy and complicated challenge. 
Success would be measured less by how much revenue is raised than by 
the Government's ability to maintain overwhelming approval of the 
actions it must undertake as we seek to eradicate the threat of 
terrorism.
  Additionally some may argue that our use of the term ``war bonds'' is 
incendiary or inappropriate. Again, I would differ with this view. 
There is no question that the attacks of last Tuesday were acts of war. 
And, there is equally little doubt that America now finds itself in a 
state of war against the perpetrators of those vile and evil acts. 
Additionally, the phrase ``war bonds'' evokes the successful efforts 
which were undertaken during World War II. And if there is any doubt 
about how war bonds resonate with the American people, one need only 
look at the overwhelming response my office has received since 
introducing this legislation last week. In fact, I have even been 
contacted by one patriotic American who has reserved the domain name 
www.warbonds.gov as well as a toll free number for a war bonds drive.
  In closing, I ask my colleagues to join me in supporting this 
amendment which would allow the Secretary to establish war bonds and 
continue a long and proud tradition of American citizen involvement in 
our Nation's most important causes.
  Mr. BURNS. Mr. President, today, I proudly join my dear friend and 
colleague, Senator Mitch McConnell, in offering an amendment to the 
Treasury, General Government Bill introducing the War Bond Amendment of 
2001.
  This legislation is in response to the many constituents in my state 
and indeed, Americans from all over this country, looking for a 
tangible opportunity to do something positive in reaction to the 
despicable acts of cowardice perpetrated upon this nation and its 
citizens by gutless and faceless cowards.
  The act will create an opportunity for ordinary citizens to 
participate in this country's recovery and response to those acts and 
to support the President and our nation in the rebuilding efforts as 
well as bringing to justice those responsible for the horrific death 
and destruction of Tuesday, September 11th, 2001.
  Throughout this nations history, bonds have been used as a vehicle 
for our citizens to come to the aid of this nation and now, as much as 
ever in our nations history, the combined support of our people is 
needed. By investing in these bonds, Americans are given a way to feel 
a part of the solution rather than feeling helpless in the face of 
these terrible events of last week.
  Americans are not only demanding action, they are looking for an 
opportunity to be of service themselves, to demonstrate their 
commitment to this country and to do it in a meaningful, tangible way. 
This bill is one answer to that demand and that opportunity.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.

[[Page 17249]]


  Mr. SESSIONS. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The Senator from Alabama.
  Mr. SESSIONS. I ask unanimous consent to speak as in morning business 
for up to 15 minutes.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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