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authorizing committees, the Senate Armed Services Committee and the House Merchant Marine and Fisheries Committee, do have an important role to play in overseeing the functioning of the canal.
We are hopeful that we will be able to act expeditiously on this matter and reach an early accommodation with the House on legislation sent to the President.
We have as our witnesses this morning Assistant Secretary of the Army, Michael Blumenfeld, who has had the primary responsibility within the Department of Defense for overseeing the old Panama Canal Company, and is now Chairman of the Board of the Panama Canal Commission; and General D. P. McAuliffe, Administrator of the Commission and former commander in chief of the U.S. Southern Command.
I am wondering if the third person at the table will identify himself?
Mr. SCHROEDER. I am Myron A. Schroeder, Chief of the Financial Planning Division of the Panama Canal Commission.
Senator LEVIN. We welcome all three of you.
You may proceed.
STATEMENT OF HON. MICHAEL BLUMENFELD, ASSISTANT SECRETARY OF THE ARMY (CIVIL WORKS), CHAIRMAN OF THE BOARD OF DIRECTORS, PANAMA CANAL COMMISSION, ACCOMPANIED BY HON. DENNIS P. McAULIFFE, ADMINISTRATOR,
PANAMA CANAL COMMISSION
Mr. BLUMENFELD. Thank you, Mr. Chairman.
Let me say it is good to be here and good to see you again.
CHANGES REQUESTED TO HOUSE BILL
I will enter my statement in the record and proceed briefly to summarize the key items. We would very much value the help of the committee in changing some of the provisions of the authorization bill that is now awaiting floor action in the House, and I shall focus on those.
I think they are changes that would be in the spirit with which this committee has approached the question of the Panama Canal authorization.
Information on the events that have happened since October, and on some of the preliminary decisions and considerations of the Panama Canal Board is covered in my statement, as are the prognoses for revenues and cost. I won't bother summarizing those in the interest of time, but will refer you to the full statement.
PROPOSED AMENDMENT
Let me focus on the proposed amendment to the bill which now awaits floor action in the House.
An insert in section 2(d)(1) of the bill provides that increases in expenditures for previously approved projects can be disapproved by any of the four authorization and appropriations committees or subcommittees. The phrase states, "Any of the committees or subcommittees may disapprove the increases in expenditures proposed by the Commission."