Haley Stevens: “I have examined the amendment offered by the Senator from Nevada and it has two basic requirements. One is a…”

“I have examined the amendment offered by the Senator from Nevada and it has two basic requirements. One is a certification of the amount Iraq will pay or that will be paid on behalf of Iraq, during fiscal year 2004 to a foreign country to service a debt incurred by Iraq, including any amount used for the payment of principal, interest, et cetera. This deals with the amounts that were debts of the former regime of Iraq. It states: On May 1, 2004, the Director of the Office of Management and Budget shall administratively reserve, out of the unobligated balance of the funds in this title under the subheading Iraq Relief and Reconstruction Fund . . . the amount that is equal to the sum of the amount certified under paragraph (1). . . . Namely, it is the amount that has been used from any source to service the debt that Iraq owed under the Saddam Hussein regime. Madam President, we take the position there will be no such payment. In any event, we don't see any harm in finding out if there is such a payment and dealing with that subject accordingly.”