Political Quotes

“this Congress has spoken at long length on the floor of the House about corporate accountability. If there is one thing that we have learned, it is that we must have standards and the companies must abide by them. Why then in this bill are health insurance companies in the Federal Employees Health Benefits Program exempted from cost accounting standards? Has Congress not learned from Enron, not learned from WorldCom? My amendment would strike section 513 in this bill, which is the section which grants a waiver from complying with governmentwide cost accounting standards. This is a special exemption from Federal accounting standards. By granting this waiver, it exposes the government to increased risks from fraud and abuse. Federal employees, unions, the administration, and even some of the insurance carriers themselves have opposed this special exemption. Given the public's lack of confidence in corporate accounting standards, it makes no sense for Congress to give an exemption for accounting standards to contractors participating in its own health care program, especially when these same accounting standards apply to every other Federal contractor. Cost accounting standards are designed to prevent fraud, overcharging and abuse. They serve as an important safeguard to save taxpayer money. They allow the government to track the cost of goods and services provided under specialized contracts when there is no market price available.”