Mr. President, I'm pleased the U.S. Senate is moving with great speed to insure the short-term stability of our nation's airlines. The tragic events of September 11 have unfortunately made this legislation an absolute and immediate necessity. This Senate is wisely moving with great dispatch.
This act is difficult for all of us. It hasn't been easy to negotiate by any means. But the Senate has come together for the good of this nation to do the right thing. That is, to keep the airlines in the air.
The airline industry is a marginal industry, just like farming. And just like farming, it depends upon a constant and consistent flow of cash. That critical cash flow dried up on September 11. This legislation provides needed cash assistance and loan guarantees to make up for the current terrorist induced shortfall.
The bill also addresses critical liability issues. As a member of the Judiciary Committee, I will monitor these provisions continually and closely as to their propriety and proper functioning. I won't hesitate to step in as I see necessary should the situation call for further immediate action.
I welcome the language concerning Essential Air Service (EAS). This is a proven program with an administrative bureaucracy already in place. States and communities understand the EAS program and its important role in maintaining air service to small, under-served communities. This program has the potential to help several communities in Iowa which now face the loss of air service. It will help to prevent these small communities from bearing the brunt of air service reductions. I strongly urge appropriators to provide the funding necessary to insure the success of the program.
Mr. President, I wish this measure was not necessary. But it is. The cowardly acts committed by terrorists on September 11 have made it so.
The terrorists will not win. The U.S. airlines will continue to fly, and Americans will continue to fly on them. Our economy and culture will grow and thrive. Of this, I am confident.