[Congressional Record (Bound Edition), Volume 150 (2004), Part 17]
[Senate]
[Page 23685]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    INCREASING THE PUBLIC DEBT LIMIT

  The ACTING PRESIDENT pro tempore. Under the previous order, the 
Senate will proceed to consideration of S. 2986, which the clerk will 
report.
  The assistant legislative clerk read as follows:

       A bill (S. 2986) to amend title 31 of the United States 
     Code to increase the public debt limit.

  The ACTING PRESIDENT pro tempore. Under the previous order, there 
will be 6 hours of debate equally divided between the chairman and the 
ranking member of the Committee on Finance or their designees.
  The majority leader.


                                Schedule

  Mr. FRIST. Mr. President, today the Senate will begin consideration 
of the debt limit extension bill. Last night we were able to lock in 
the time agreement of up to 6 hours on the measure with no amendments 
in order. I do not believe all the debate time will be required and 
therefore would like to vote on that measure, if at all possible, this 
evening. I will talk to the Democratic leadership about that 
possibility. I remind all Members that the House has to consider this 
after we act. Initially we thought about possibly doing it tomorrow 
night, but we have come to the general agreement to move ahead today 
because the House is waiting for us to act. Therefore, I appreciate 
everyone's consideration to go ahead and debate this afternoon and 
bring this to a vote.
  I also announce that we want to set aside some time tomorrow to pay 
tribute to our departing Members. We want to let our colleagues know, 
as we look further in the day, what time tomorrow that will occur.
  Finally, I remind Members we are still trying to close out other 
business. I was talking to the Democratic leader about the other items. 
One is the intelligence bill, the 9/11 Commission. Under our 
leadership, we set out a plan in late July. I hope we will be able to 
complete that over the course of today and tomorrow.
  Of course, we have the omnibus bill, and we have tremendous 
cooperation on all parts. It is a large bill. It is a complicated bill. 
The good news is that in a bipartisan way the subcommittees have been 
able to address all of these issues over the last several months. It is 
a matter of packaging it, bringing it to the floor, and making sure our 
Senate colleagues have the appropriate opportunity to review that bill.
  We have a lot of work to do. I continue to ask for everyone's 
assistance and patience as we proceed along these final days and this 
legislative and executive session and address calendar items.
  The ACTING PRESIDENT pro tempore. The minority leader is recognized.
  Mr. DASCHLE. Mr. President, I share the views just expressed by the 
majority leader that we are at a point where we may be able to collapse 
the time that has been originally requested on the debt limit. I know 
there are a number of Senators who have expressed a great deal of 
interest in addressing the issue. The distinguished ranking member of 
the Budget Committee is here and prepared to speak. But it would be my 
hope, and I would share it with all my colleagues, especially on this 
side of aisle, we could complete the debate today rather than tomorrow 
and have a vote sometime prior to the time we leave for the evening. 
That, I think, is now doable, and I hope that with both sides of the 
aisle cognizant of our expectation we could complete our work this 
evening rather than tomorrow, people might take that into account as 
they consider the amount of time they may want to request.
  I understand we are taking up the tax bill, and I am very pleased we 
have reached an agreement on that. I compliment particularly the 
distinguished Senator from Oregon for his work in that regard.
  I share the cautious optimism just expressed by the majority leader 
with regard to appropriations. I think we are still making substantial 
progress, and it would be our hope that prior to the end of the week we 
will have an opportunity to address the conference report on that as 
well, in addition to other matters.
  It is shaping up to be a reasonably productive week and I look 
forward to completing our work sometime before the end of this week.
  I yield the floor.

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