Max Baucus: “I reserve the right to object and would like to make a statement. I am basically opposed to the Senator's request, and…”

“I reserve the right to object and would like to make a statement. I am basically opposed to the Senator's request, and let me explain why. The Finance Committee considered this bill last week, and we passed it out of committee by a voice vote without a single amendment being offered. Nobody on the committee offered an amendment. I think we cannot and should not delay the passage now. It passed unanimously, no amendments offered, and now is not the time to delay. This bill is fully offset. How? By extending customs user fees and corporate timing shift. This is not the first time we have used the corporate timing shift as an offset. I have a list--a very long list-- of the many times when this body has used this very same provision and very same offset. In fact, it has been used multiple times since 2005 in trade bills and lots of other bills, so there is much precedent. I, nonetheless, understand Senator Coburn now has concerns about the offset, and I am willing to work with him to find alternate offsets in future trade measures. We need to move forward on this bill in its entirety as soon as possible. We can't pick and choose to move forward on component parts while leaving others to linger. There are real consequences for delay. This bill extends provisions of the African Growth and Opportunity Act--otherwise known as AGOA--trade preference program that would otherwise expire in September. Without swift passage of this bill, U.S.…”