William Bradley: “I rise in support of the sense-of-the- Senate resolution that the distinguished occupant of the chair will be offering…”

“I rise in support of the sense-of-the- Senate resolution that the distinguished occupant of the chair will be offering in a short while and that the distinguished Senator from Texas has just addressed. This resolution mirrors a concurrent resolution that I offered, along with Representative Anna Eshoo of California. Make no mistake about it, the reason this proposal is on the floor of the Senate today is because of the leadership of Representative Eshoo. She has been tenacious in this regard and she does so out of the best interests not only of her constituency in the high-technology community, but the whole economy of the United States, She deserves a lot of strong support for her leadership on this issue in the House of Representatives. She has also been very active in lobbying a number of the Senators who will vote on this issue today. Let me also say at the outset that I have the highest respect for the Financial Accounting Standards Board. As I will state in my prepared remarks, I do not think that it is wise to write accounting standards on the floor of the Senate. At the same time, I think there are times when it is important to speak out, and I look at this resolution as one of those moments. The resolution asks the Congress to go on record against a proposed change in the accounting treatment of the employee stock options recommended by the Financial Accounting Standards Board, FASB.…”