Jeff Bingaman: “I once again raise my concerns with Section 207 of the Pension Funding Equity Act that passed the Senate on April 8 and…”

“I once again raise my concerns with Section 207 of the Pension Funding Equity Act that passed the Senate on April 8 and was signed into law on April 10. This provision grants a retroactive antitrust exemption to the graduate medical education residency matching program, a subject that is entirely unrelated to the pension bill and never received a full consideration by the normal processes of this body. My concerns about that provision are simple. First, I do not think that exemptions from this nation's antitrust laws should be lightly given. Second, I think the process by which this exemption was given-- without any opportunity for hearing before the appropriate committees or full and real consideration by this body--was improper. Finally, I am concerned about the correct interpretation of the language as to the scope of the immunity. As I stated in the floor debate on the pension bill, I believe that the language of subsection 207(b)(3) makes clear that the exemption from the antitrust laws granted by this legislation is limited; and that if there is a claim of price-fixing--which is prohibited by section one of the Sherman Act--then the provisions of subsection 207(b)(2) do not apply. Even though my right to file an amendment was reserved on this bill, I have now lost that right as my amendment is no longer in order now that cloture has been invoked. Having lost this right, I will seek a future opportunity to raise this issue before this body.”