Frank Pallone: “I am opposed to the use of the funds for the sale of the U.S. Enrichment Corp. for the tax cut plan. The U.S. Enrichment…”

“I am opposed to the use of the funds for the sale of the U.S. Enrichment Corp. for the tax cut plan. The U.S. Enrichment Corp. took over the Department of Energy's uranium enrichment program in July 1993. Under the Energy Policy Act of 1992, the Enrichment Corp. is required to prepare a strategic plan by July 1 of this year on prospects for privatization. That plan is to consider alternative means of transferring ownership to the private sector and identify the preferred method of privatization. The 1992 act also provides that the corporation may not implement the plan without Presidential approval, and cannot privatize less than 60 days after notifying Congress of its intent to implement the plan. Mr. Chairman, none of these things have happened. I would suggest that what we are doing today is premature.”