Kent Conrad: “No. I asked repeatedly for the Senator to yield to me. He repeatedly refused, so I refuse. The point is very simple. The…”

“No. I asked repeatedly for the Senator to yield to me. He repeatedly refused, so I refuse. The point is very simple. The reason his numbers are at dramatic variance with the official estimate of what this bill that is before this body will raise is because he takes no account of the volume adjustment that is contained clearly in the bill. And that volume adjustment calls for lower payments from the companies as the use of the product falls. Now, any economist and anybody with common sense understands that as you increase the price of something, you sell less of it. That is just basic. And so the legislation acknowledges that economic fact of life. I yield the floor.”