[Congressional Record (Bound Edition), Volume 148 (2002), Part 4]
[House]
[Page 5300]
[From the U.S. Government Publishing Office, www.gpo.gov]




CORPORATE AND AUDITING ACCOUNTABILITY, RESPONSIBILITY AND TRANSPARENCY 
                                  ACT

  (Mr. PITTS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PITTS. Madam Speaker, the economy is on the rebound. Most of our 
key economic indicators are showing good news, but one thing is hanging 
heavy on the economy. The collapse of Enron has shaken America's faith 
in American corporations and accounting practices. Even the stock 
market is suffering because of this.
  Congress needs to address this. This week we will be voting on the 
Corporate and Auditing Accountability, Responsibility, and Transparency 
Act. This bill will improve corporate responsibility, reform accounting 
oversight, and increase corporate disclosure.
  Americans need to know that the companies they are investing in are 
reporting their finances honestly. Americans need to know that their 
finances will be protected, and Americans need to know that they can 
diversify their 401(k)s so they can protect themselves from investments 
that do not do as well as expected.
  Madam Speaker, I call on my colleagues to pass this important bill 
and tell every American that we care about honesty and integrity than 
we care about their retirement.

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