James A. Leach: “The mark-to-market approach, which is a fairly subtle thing in terms of the public perspective, is simply an extension…”

“The mark-to-market approach, which is a fairly subtle thing in terms of the public perspective, is simply an extension of an ongoing program. Now, the question then becomes, what are we doing with the larger issue for which there are certain differences with the other body? The gentleman from New York [Mr. Lazio] has very thoughtfully introduced a very comprehensive bill. It is in the public record. We have modest differences with the other body on two large issues, both of which, however, are in the context of which there is 95 percent agreement on approach. It is the intent of the House side to be very forthcoming in negotiations with the Senate on these issues. What we are attempting to pass today is by no means intended to be delaying. It is intended to take care of extenders that must occur this month, and also to take care of a very compassionate issue. So I would only say to the gentleman from Massachusetts [Mr. Kennedy] that we have some very minor concerns about a given Senate approach in the mark to market. We will negotiate with them very straightforwardly, very reasonably, with the intent of protecting the U.S. taxpayer and the public interest, and no other intent or any other motivation whatsoever.”