Pete Domenici: “Mr. President, the Kennedy amendment is a substitute to the Labor Committee's title. It violates the bipartisan…”

“Mr. President, the Kennedy amendment is a substitute to the Labor Committee's title. It violates the bipartisan agreement that we made with the President and with Democrats and Republicans. It is not germane to this bill before us. It violates the Byrd rule because it increases spending in the year 2002 and thereafter without any offsets. The Kennedy amendment reduces the student loan origination fees, and is offset by significant reductions in revenues to the lenders and guaranty agencies participating in student loan programs. With that, I make a point of order that the Kennedy amendment is a violation of the Budget Act and the Byrd amendment.”