This is the United States Sentencing Commission’s fourth report to Congress on the subject of federal cocaine sentencing policy.1 The Commission submits this update pursuant to both its general statutory authority under 28 U.S.C. §§ 994-95 and its specific responsibility to advise Congress on sentencing policy under 28 U.S.C. § 995(a)(20).2 Congress has not acted on any of the various statutory recommendations set forth in the Commission’s prior reports and expressly disapproved the Commission’s guideline amendment addressing crack cocaine penalties submitted on May 1, 1995. Against a backdrop of renewed congressional interest in federal cocaine sentencing policy,3 the need to update the Commission’s prior reports has become more important. The Supreme Court’s decision in United States v. Booker4 has given rise to litigation and resulted in differences among federal courts on the issue of whether, and how, sentencing courts should consider the 100-to-1 drug quantity ratio.