THE WHITE HOUSE
Office of the Press Secretary
STATEMENT BY THE PRESIDENT ON H.R. 1555
My Administration is committed to enactment of a telecommunications reform bill in this Congress. Such legislation is needed to stimulate investment, promote competition, provide open access to information networks, strengthen and improve universal service and provide for flexible regulations for this important industry. Consumers should receive the benefits of lower prices, better quality and greater choices in their telephone and cable services, and they should continue to benefit from a diversity of voices and viewpoints in radio, television and the print media.
Unfortunately, H.R. 1555, as reported by the Commerce Committee and amended by the managers' amendment, does not reach any of these goals. Instead of promoting investment and competition, it promotes mergers and concentration of power. Instead of promoting open access and diversity of content and viewpoints, it would allow fewer people to control greater numbers of television, radio and newspaper outlets in every community.
H.R. 1555 with the managers' amendment would:
The cumulative effect of these provisions would be to harm competition and to weaken the benefits to the public. If H.R. 1555 with the managers' amendment is sent to me without deletion or revision of a significant number of these provisions I will be compelled to veto it in the best interests of the public and our national economic well-being.