Jim Inhofe: “we have discussed the formula, which is what the Senator from Texas has been discussing in the last couple minutes. I…”

“we have discussed the formula, which is what the Senator from Texas has been discussing in the last couple minutes. I want everybody to know, this is 7.25 billion new dollars, new spending under this formula. If you vote for this, you are voting to increase the authorized level by $7.25 billion. If you look at the pending bill, it says: Under the IPAM Program, under section 139 of that title, $2 billion for fiscal year 2004 and nothing thereafter. If you look at the amendment, it says: $2,000,000,000 for each of fiscal years 2004 and 2005. . . . That is $4 billion, plus: $1,750,000,000 for each of fiscal years 2006, 2007, and 2008. You add it up, and that is $9.25 billion, $7.25 billion more than the pending bill. Everyone has to understand that. When you vote for this, you are voting to increase the spending under this bill.”