Bob Kerrey: “What we are about to do in this legislation is without precedent. There is no legislative precedent for taking this…”

“What we are about to do in this legislation is without precedent. There is no legislative precedent for taking this large a sector of the economy. It is true we have deregulated other sectors of the economy but nothing that touches nearly half of all the U.S. economy, either directly or indirectly. It is a mammoth part of the economy. Make no mistake about it, while it may be true that some Americans do not fly, and some Americans do not use a truck, every single American will be touched by this piece of legislation. If you have a telephone line coming into your home, if you watch broadcast television, if you buy records, if you have cable service, if you use any consumer electronics, if you have a computer, if you have any contact at all with information industries or services, this bill will have an impact on you--a substantial impact on you.”