The West Virginia Democrat argued that the regulatory bill had failed because "They just had to make it too extreme."
The West Virginia Democrat added: "It is an alarm bell.
The compromise offered by the West Virginia Democrat would cut by half the amount of public funds that could be provided for Senate races.
Instead, the West Virginia Democrat spoke in broader terms about how he thought President Reagan's policies had "endangered the world economy."
"I am ready to give this agreement a chance," the West Virginia Democrat said Thursday.
Senator Byrd, who is a West Virginia Democrat, said that "there was a glaring example," but he did not elaborate.
Every presidential election year, the West Virginia Democrats issue their party platform.
The West Virginia Democrat and longtime ally of the President, has long sought to limit damages in product liability lawsuits.
A fixed term, the West Virginia Democrat said, would "make it possible for the agency to resist pressure to engage in questionable or illegal activities."
"It comes at a time that does nobody any good," the West Virginia Democrat said.