10.20.10

Conrad Encouraged By Bipartisan Majority Vote In Support Of Conrad/Gregg Fiscal Task Force Legislation

Amendment Secures 53 Votes, 7 Votes Shy of Required 60 for Adoption

Washington, DC – The bipartisan fiscal task force legislation proposed by Senators Kent Conrad, D-ND, and Judd Gregg, R-NH, today won the support of 53 Senators, 7 votes shy of the necessary 60 votes needed for adoption.

"Today, the Senate spoke and a majority of Senators called for change," said Senator Conrad, Chairman of the Senate Budget Committee. "While the statutory fiscal task force proposal that I offered with Sen Gregg did not secure the necessary 60 votes for adoption, I am heartened by the 53 votes we did receive."

The Bipartisan Task Force for Responsible Fiscal Action Act, which Senators Conrad and Gregg co-wrote, was offered as an amendment to legislation to increase the statutory limit on the public debt. The amendment is an updated version of legislation Senators Conrad and Gregg first offered in 2007. Their measure establishes an 18-member task force comprised of ten Democrats and eight Republicans to develop bipartisan legislative solutions to the nation's long-term fiscal imbalance. Under their plan, the task force recommendations would be considered by Congress under expedited procedures with a vote required.

"The good news is that this vote sends a clear signal that the Senate wants a special process to address our country's burgeoning debt," added Senator Conrad. "So too does President Obama, as evidenced by his strong endorsement of our task force proposal. And with the President's continued support, we know our effort will succeed. Maybe not today, but there is great hope that a commission-like approach will be adopted, sooner rather than later."

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Press Contact: Stu Nagurka (202) 224-7436
Steve Posner (202) 224-7925