Political Quotes

Arlen Specter: Mr. President, the Defense Contract Audit Agency [DCAA] is threatening the viability of ESOP defense contractors by…

On the recordJuly 15, 1997
Mr. President, the Defense Contract Audit Agency [DCAA] is threatening the viability of ESOP defense contractors by applying different determinations of ESOP costs than the Internal Revenue Service and the Department of Labor. It is my understanding that Congress intended that ESOP cost issues be governed by the tax and pension laws and regulations administered by those offices, not DCAA. If this matter is not resolved when the defense appropriations conference committee meets, would the distinguished chairman be willing to try to assist in resolving it at that point?
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Arlen Specter
Democratic · Pennsylvania

Editor's note · Context

Discussing issues related to employee stock ownership plans during debate on the fiscal year 1998 Defense appropriations bill.

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