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Reports that the U.S. House Financial Services Committee has approved subpoenas for four existing and former executives of telecommunications giant WorldCom Inc., for financial misconduct. Names of the executives; Plans of Financial Services ranking member John LaFalce to reintroduce his accounting and financial services reform bills; Findings of a report released by the U.S. Public Interest Research Group on accountants.

Reports the approval of a compromise bill by a U.S. House Transportation and Infrastructure panel allowing a small number of airline pilots to carry firearms under a two year demonstration program. Reason for arming flight crew members; Comments of transportation ranking member James Oberstar in support of the legislation; Percentage of pilots carrying weapons.

Reports on a United States Senate Environment and Public Works Transportation Subcommittee symposium on highway safety that was held on June 14, 2002, to discuss ways to improve the safety provisions of the highway bill. Annual fatalities on highways; Reasons for the persistence of highway safety problems; Amendments proposed by safety organizations for the bill.

Reports on the steps taken by local community leaders from across the country to lobby for the continued funding of the federal mass transit upon Congress reauthorization of the Transportation Equity Act for the 21st Century (TEA-21). Features of TEA-21; Key role of the transit in addressing the congestion crisis; Stagnation of ridership with decreased funding of the transit.

Reports on the efforts of Senator Ted Stevens and Representative Don Young to reform the bypass mail system in the U.S. Reaction of other legislators on proposed rule changes in the bypass mail system; Importance of the bypass air cargo system; Implication of the proposal for carriers servicing the state.

Reports the bill passed by the legislators to restore the federal highway funding in the U.S. Elimination of the Revenue Aligned Budget Authority; Mechanism for allocating the highway money collected by gasoline taxes and other transportation sources; Effect of the recession on the highway funding.

Reports the application of the Amtrak reauthorization bill by the U.S. Senate Commerce Committee. Additional budget for the troubled passenger rail service; Recommendations of the Amtrak Reform Council; Need for a national defense rail act.

Reports that the U.S. House Financial Services Committee has cleared a measure to overhaul the nation's deposit insurance system. Features of the bill; Importance of federal deposit insurance program for the economy of a country.

Reports the approval of federal grants on the redevelopment of brownfields by the U.S. House Financial Services Committee. Elimination of community development block grant funds as collateral; Development of blighted properties into assets; Definition of brownfields.

Comments on the regional funding of Amtrak bill in the U.S. Provisions of the bill; Problems of Amtrak legislation; Complaint of the lawmakers about the federal government subsidizing rail travel.

Reports on the approval to overhaul the national deposit insurance system by the House of Representatives in the United States. Merger of two separate deposit insurance funds; Impact of indexing maximum limitation rates on consumers; Compensation of banks.

Reports the segregation of Amtrak Reform Council into separate organizations in the United States. Responsibilities of each organization; Improvement of service and quality in the rail system; Capital subsidies for high-speed rail needed by the Council from the government.

Focuses on complaints aired by clients on the collapsed of Enron Corp. on their savings in the United States. Difficulty in accessing before the imposition of lockdown in changes; Proposal to notify employees 30 days before a lockdown from President George W. Bush; Implications of the proposal on the sale of company stock by the employees.

Reports the efforts of the chairman of the U.S. House Ways and Means to expand the trade adjustment assistance (TAA) for displaced workers. Way of reducing the unemployment rate; Benefits of the TAA program; Plans of the chairman to provide health insurance to the members of the program.

Reports the proposal for an aviation security bill by House Republicans in the United States. Distinction between the House Republican Bill and the Senate Bill; Requirements for the bills; Statement from Kenneth Quinn of the Aviation Security Association on the possibility of conflicts on the proposed nationalized security systems.

Reports on the demand for an increased regulation of buses and trucks involved in the transportation of hazardous materials in the United States. Likelihood of terrorists to attack mass transportation; Agreement for tighter scrutiny for hazardous material drivers; Proposal on specification of routes for hazardous material cargoes.

Reports that the U.S. House Financial Services Committee Republicans have succeeded in passing a bill to tighten accounting standards and increase corporate accountability. Appearance of the bill on the House floor; Passage of amendments proposed by Democrats; Changes proposed by Financial Services ranking member John LaFalce in the amendments; Step towards improvement of investor confidence.

Reports the consideration of the Senate Commerce Committee on the changes in the operation of Amtrak in the aftermath of September 11 attacks in the United States. Criticisms on the chance of railroad to meet the goal; Impracticality of the national rail system; Payment of short-term bills.

Focuses on United States House International Relations Committee's approval of reauthorization of the Export Administration Act. Long list of amendments; Administration of President George W. Bush's support for the Senate version of the bill.

Presents updates on key legislative bills in the United States Congress, as of July 12, 2001. U.S. House Treasury-Postal Subcommittee's passage of the fiscal 2002 Treasury-Postal appropriations bill; Agriculture spending bill approved by the chamber; Debate over the fiscal 2002 Interior spending bill in the U.S. Senate.