    [Public Papers of the Presidents of the United States: William J. Clinton (1995, Book II)]
    [December 19, 1995]
    [Pages 1904-1907]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on Signing the Lobbying Disclosure Act of 1995 and an Exchange
    With Reporters
    December 19, 1995

        The President. Good morning, ladies and gentlemen. Today, after two
    decades of gridlock, I am very proud to be able to sign this legisla-

    [[Page 1905]]

    tion to bring lobbying in Washington into the sunlight of public
    scrutiny.
        Last year when lobbying reform legislation was filibustered to
    death, there were lobbyists crowded outside the Senate Chamber who
    literally cheered. Today I sign that bill into law. And that's something
    for the American people to cheer about.
        I want to begin by thanking those whose efforts made this possible.
    And their efforts were constant, longstanding, and carried on, I might
    add, from time to time under great duress.
        First, let me say I believe this new law to bring lobbying into the
    open would never have happened without the leadership of Senator Carl
    Levin. The first conversation that he and I had after I was elected
    President was about this legislation, and therefore in a very real sense
    this lobby reform law is a monument to the years and years of effort
    that Carl Levin has made. And I thank you, Senator, for that.
        There are many, many other Members of Congress in both parties who
    played a pivotal role in enacting this needed reform. Many of them are
    here today, and I want to thank them. I want to thank Senator Cohen and
    Senator Wellstone. And I want to thank Congressman Bryant, Congressman
    Canady, Congressman Frank, Congressman Fazio, Congressman McHale,
    Congressman Chris Shays, Congressman Goss, Congressman Doggett, and
    Congressman Barrett, who was not able to be here today.
        On this matter, Democrats and Republicans acted together to put the
    public interest before partisanship. And they faced withering pressure
    to do otherwise. This law is also a testament to the thousands of
    citizens who were members of groups lobbying for this, members of Common
    Cause, Public Citizen, and many other groups, who have sought to make
    real the promise of our democracy. It is also, frankly, a testament to
    the efforts of thousands of citizens who belong to no particular group
    but who showed up at town meetings that these Members and others had all
    across our country. They were Republicans and Democrats and
    independents, people who wanted this kind of change, real change, for a
    very, very long time.
        Lobbying has its rightful place in our system. I believe every
    Member here and every Member who voted for this bill understands that
    and understands what a valuable role lobbying can play in the American
    system. At one time or another, just about every American citizen has
    wanted to be a lobbyist before the Congress on one issue or another.
        But ordinary Americans also understand that organized interests too
    often can hold too much sway in the halls of power. They know that in
    Washington an influence industry too often operates in secret and gets
    special privileges not available to most Americans. Lobbyists in the
    back room secretly rewriting laws and looking for loopholes do not have
    a place in our democracy. All the people should know what is done by
    people who affect public decisions.
        I ran for President in large measure to renew our democracy, to give
    ordinary Americans a greater stake in our Government. I strongly called
    for reform measures, including this bill, from the very beginning.
    Shortly after I took office, I implemented the toughest ethics code on
    executive officials in our history, barring senior appointees from
    lobbying their own agencies for 5 years after leaving office and from
    ever lobbying for foreign governments. We repealed the tax loophole that
    let lobbyists deduct the cost of their activities and enacted the motor
    voter bill which will add millions of new voters to the rolls.
        Until today, the rules governing lobbyists, virtually unchanged
    since 1946, have been more of a loophole than a law. For the first time
    this new law requires professional lobbyists to disclose publicly who
    they are, for whom they work, what they're spending, and what bills
    they're trying to pass, kill, or amend. The bill is tough. It will pull
    back the curtains from the world of Washington lobbying. It will help to
    restore the trust of the American people in their Government. It is a
    good bill for America.
        At the outset of this year, I asked the Congress to take four major
    steps toward political reform. First, I asked them to apply to
    themselves the laws that they pass governing the rest of America.
    Congress took this step, thanks to the hard work of many lawmakers here
    today.
        Second, I asked the Congress to give up gifts, meals, and trips from
    lobbyists. Earlier this year, Congress agreed to that, and I applaud
    them for that.
        Thirdly, I asked Congress to enact strong lobbying disclosure.
    Shortly, I will sign that bill into law. And I think it is fair to say,
    thanks to the efforts of these gentlemen and others, that bill is much
    stronger than most people ever dreamed would pass the United States
    Congress.

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        Fourth, I asked the Congress to reduce the influence of money on
    elections. And though Congress still has not acted, there is sign of
    hope here as well. Truly bipartisan legislation is now moving forward in
    both the Senate and the House to limit spending, curb PACs and
    lobbyists, provide free TV time for candidates, and end the soft money
    system, proposals virtually identical to the ones I advocated in 1992.
    They are real reform. And I look forward to working with lawmakers from
    both parties in the months ahead to quickly enact campaign finance
    reform as well.
        For now, let us recognize and appreciate the significant step being
    taken today. This law says the days of secret lobbying are over.
    Throughout our history, the people of our country have fought to make
    the Government heed their voice. This new law is in the best tradition
    of America, one articulated by President Andrew Jackson a long time ago,
    ``Equal opportunity for all; special privileges for none.''
        Thank you very much, all of you.

    [At this point, the President signed the legislation.]

    Budget Impasse

        Q. Do you think you're going to get a CR before Christmas?
        The President. I certainly hope so. We're going to have a meeting
    this afternoon, and I'm looking forward to it. The Speaker and Senator
    Dole are coming over, and then we'll have some more meetings. And I hope
    we can work it out.
        If you look at this legislation, this is an example of what we can
    do if we focus on one goal and determine to achieve that goal and bridge
    our other differences. And I believe that about 80 percent of both
    Houses in Congress, maybe even more, would like to pass a 7-year
    balanced budget that has real credibility with the financial markets,
    that would keep interest rates coming down, keep home mortgages being
    refinanced, keep investment flowing into the country to keep this
    economy going.
        Q. They won't agree to your conditions.
        The President. Well, you don't know that. We'll see. We're going to
    keep talking. We've worked hard. I've worked hard. I worked all last
    weekend on this budget to do everything I can to pass a budget that is
    consistent. I even got--I gave this to all our folks today to make sure
    that they would read and reread this--the actual language of the last
    continuing resolution. And so we're working on it very hard.
        Q. You said that in this bill the Democrats and Republicans put
    partisan considerations aside and worked for the public interest. Do you
    feel that the White House and the Republicans can do that now on the
    budget?
        The President. Yes. It's more difficult because there are 80 or 90
    issues--policy issues that we have some differences on. But if we say
    what our goal is, our goal is to pass a credible balanced budget plan,
    recognizing that no one can foresee what will happen in every year f the
    next 7 years but that a plan that is passed, that is credible, that is
    ultimately certified by the Congressional Budget Office, that the
    financial markets and the business community, the ultimate judge of
    this, say, this is a good plan. This is going to work. That would be a
    very good thing for America. I think we can do it.

    The Economy

        Q. You sound concerned, Mr. President, about the financial markets;
    you brought it up twice this morning. Are you worried about the hit it
    took yesterday?
        The President. Not especially. I don't like to comment on short-term
    changes in the market. You know, when I ran for President, I said I
    thought if we could pass a credible deficit reduction plan in 1993, we
    could create over 8 million jobs and we'd get a stock market of 4,000. I
    never dreamed it would go to 5. [Laughter] So the American economy is
    very strong, very vibrant. And in an economy with a free market system
    with this much activity, there's going to be changes in the market. You
    know there are, always have been, always will be. I don't think we
    should comment on that or read too much into it one way or the other.

    Securities Litigation Reform

        Q. Are you going to sign the securities litigation reform, Mr.
    President?
        The President. For the last week, I have spent several hours on
    that. I believe that some legislative activity there is warranted, and
    I'm going to have a final review today. Yesterday I had a long meeting,
    and I asked one particular question and asked it to be researched at
    some length. I'll have a meeting later this afternoon; I'll have an
    announcement sometime today about it.

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        Thank you.

    Note: The President spoke at 10:09 a.m. in the Roosevelt Room at the
    White House. S. 1060, approved December 19, was assigned Public Law No.
    104-65.