Jon Kyl: “I am quoting now from a February 11, 2004, Statement of Administration Policy from the executive office of the…”

“I am quoting now from a February 11, 2004, Statement of Administration Policy from the executive office of the President, Office of Management and Budget. As my colleagues know, these Statements of Administration Policy are issued with respect to important legislation and they set forth the administration's position on the legislation. After noting that the administration supports enactment of the 6-year highway funding bill, the letter says the following: The administration's proposal, as modified by the President's FY 2005 budget, would provide $256 billion over six years, an historically high level of investment for highways and transit. This proposal represents a $45 billion, or 21 percent, increase over the Transportation Equity Act for the 21st Century (TEA-21), the six-year bill enacted in 1998. The administration goes on in this Statement of Administration Policy to say the following: The administration believes that surface transportation reauthorization legislation should exhibit spending restraint and adhere to the following three principles.”