Arlen Specter: “in response to the arguments raised by the Senator from Arizona, he points out the ``shalls'' in the pending amendment.…”

“in response to the arguments raised by the Senator from Arizona, he points out the ``shalls'' in the pending amendment. But each of the ``shalls'' relate to preexisting obligations under which the PBGC can put this plan into effect. The two ``shalls'' in subsection (2)(A) say that ``the minimum funding requirements under this paragraph shall be the requirements set forth in Treasury Regulation.'' So it establishes the funding in accordance with existing regulations. What it does not say is that the PBGC has to put the plan into effect. The later provision under (B)(i) says that ``the plan shall be treated as having met the requirements of Treasury Regulation,'' and specifies the technical compliance. But it does not in any way require that the PBGC has to carry this plan forward. Let me add as cosponsors Senators Warner, Allen, Dole, Clinton, and Senator Santorum, whom I believe I should have mentioned earlier as an original cosponsor to the bill. I reserve the remainder of my time.”