PLEASE TREAT THIS MESSAGE VERY CLOSE HOLD.  Please do not circulate.

Ed Gillespie called back before lunch to say that he had talked to Nick Calio, the Administration's top lobbyist.  The White House wants a stimulus package, but does not consider the idea a done deal.  It will only get done if it is truly bipartisan, meaning not just garnering Democratic votes, but having both Daschle and Gephardt on board.  That said, corporate AMT is definitely on the list.  Regular NOLs are not on the table.  I asked Ed G. whether the White House would be interested in a refundable AMT approach.  Ed G. said he would check, but was 90+ certain the idea would not fly with the Administration.  He will keep us posted.  Thanks.

Rick, has Ken been able to make any of his AMT calls?  At a meeting here this morning, the group decided that Ken should also call Secretary O'Neill.  Do you need a new call memo for that?