Fitzgerald called the House bill misguided, saying that stock option compensation is an expense that should be recorded on a company's income statement. Fitzgerald said that companies that do not expense stock option compensation are misleading investors. Fitzgerald also expressed concern that
members of Congress were substituting political decisions for complex technical accounting decisions and were undermining the independence of the nation's private accounting standards board.

"Stock option compensation is a real expense with a real cost. That cost should and must be reflected in corporate earnings reports," he said. "My friends on the House subcommittee are misguided in seeking to overturn this important accounting reform. Should their bill clear the full House, I will do everything I can to block it in the Senate."

The House bill, HR 3574, would, among other things, only require the CEO and four top paid employees of a company to have their stock options expensed. Small businesses would be exempt from expensing. The bill's chief sponsor is Richard Baker, R-La. There are 107 co-sponsors in the House. It was approved on a voice vote on May 12.