[Congressional Record (Bound Edition), Volume 148 (2002), Part 3]
[House]
[Pages 4137-4138]
[From the U.S. Government Publishing Office, www.gpo.gov]




                       LOOPHOLE EXPLOITATION ACT

  (Mr. DOGGETT asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. DOGGETT. Mr. Speaker, this afternoon the House will vote on a 
piece of legislation that has been named the Taxpayer Protection Act. 
It

[[Page 4138]]

would be more properly described as the ``Loophole Exploitation Act'' 
because it is designed to undermine the new bipartisan campaign finance 
law before that law can even take effect.
  It will encourage the development of a new form of political 
committee that will not have to disclose its activity at either the 
Federal or State level. This will be a type of committee for which 
Federal officials are encouraged to raise funds, and yet no one will 
know the full extent of such a committee's activities.
  That is why Public Citizen, Common Cause, and the Campaign for 
America have said ``there is only one way to oppose the fatally flawed 
527 provisions, which open a gaping loophole in our campaign finance 
disclosure laws, and that is to vote ``no'' on H.R. 3991.'' I hope my 
colleagues will do that. We must maintain the bipartisan spirit of 
reform and reject this very unfortunate piece of legislation.

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