The House Is Not In Session
House Session - February 3, 2016

The House convened for Morning Hour, with members permitted to speak on a variety of topics.

Speakers:
Time
Action
  • 10:00:12 AM

    HOST

    RYAN, SPEAKER OF THE HOUSE OF REPRESENTATIVES.

  • 10:00:38 AM

    THE SPEAKER PRO TEMPORE

    PURSUANT TO THE ORDER OF THE HOUSE OF JANUARY 5, 2016, THE CHAIR WILL NOW…

    PURSUANT TO THE ORDER OF THE HOUSE OF JANUARY 5, 2016, THE CHAIR WILL NOW RECOGNIZE MEMBERS FROM LISTS SUBMITTED BY THE MAJORITY AND MINORITY LEADERS FOR MORNING HOUR DEBATE. THE CHAIR WILL ALTERNATE RECOGNITION BETWEEN THE PARTIES WITH EACH PARTY LIMITED TO ONE HOUR AND EACH MEMBER OTHER THAN THE MAJORITY AND MINORITY LEADERS AND MINORITY WHIP LIMITED TO FIVE MINUTES. BUT IN NO EVENT SHALL DEBATE CONTINUE BEYOND 11:50 A.M. THE CHAIR NOW RECOGNIZES THE GENTLEMAN FROM ILLINOIS, MR. GUTIERREZ, FOR FIVE MINUTES.

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  • 10:01:08 AM

    MR. SPEAKER, TOMORROW, REPUBLICANS IN THE HOUSE ARE HOLDING A HEARING…

    MR. SPEAKER, TOMORROW, REPUBLICANS IN THE HOUSE ARE HOLDING A HEARING BLAMING THE OBAMA ADMINISTRATION BECAUSE THOUSANDS OF CHILDREN AND YOUNG ADULTS ARE FLEAING THREE COUNTRIES IN CENTRAL AMERICA SEEKING SAFETY IN THE UNITED STATES AND OTHER COUNTRIES. THE PREMISE AS FAR AS THE REPUBLICANS ON THE COMMITTEE ARE CONCERNED IS THAT PRESIDENT OBAMA HAS NOT DEPORTED ANYONE OR ENFORCED ANY IMMIGRATION LAWS. AS FAR AS THEY ARE CONCERNED, THE PRESIDENT'S EXECUTIVE ACTIONS, WHICH WE SHOULD REMEMBER ARE FOR A DIFFERENT SET OF IMMIGRANTS ALL TOGETHER, AND WHICH REPUBLICANS HAVE DELAYED UNTIL THE SUPREME COURT DECIDES ON A LAWSUIT THIS SUMMER, BUT REPUBLICANS SEE THEM AS A CLARION CALL TO EVERYONE IN THESE PARTICULAR COUNTRIES TO ATTEMPT TO COME TO THE U.S. IT IS NOT RAMPANT MURDERS, EXTORTION, FORCED CONSCRIPTION INTO STREET GANGS OR THE UTTER COLLAPSE OF CIVIL SOCIETY AND CIVIL ORDER THAT IS DRIVING PEOPLE TO RISK THEIR LIVES TO SEEK SAFETY HERE. NO, IT IS THAT PRESIDENT THAT REPUBLICANS LOVE TO HATE, HE'S TO BLAME. I HOPE THAT AT LEAST A LITTLE TIME AT THE JUDICIARY HEARING ON THURSDAY WILL BE DEVOTED TO THE PROBLEMS OUR GOVERNMENT FACED OVER THE PAST DUMB YEARS IN HANDLING YOUNG AND UNACCOMPANIED ASYLUM SEEKERS FROM CENTRAL AMERICA. WE KNOW THAT SOME WOMEN WERE KEPT IN LOCKUPS TOO LONG. THAT THE TERM HUMANE, FAMILY DETENTION IS AN OXYMORON. THAT CHILDREN WERE RELEASED TO GUARDIANS WHO DID NOT HAVE THE CHILDREN'S BEST INTEREST IN MIND. AND THAT SOME WERE FORCED INTO HUMAN TRAFFICKING SITUATIONS AND WE SHOULD HAVE BEEN MORE VIGILANT. THOSE ARE THE ISSUES I HOPE WE CAN FOCUS ON. WE SHOULD BE ASKING, HOW CAN WE REMAIN A SOCIETY THAT PROTECTS THE INNOCENT, CARES FOR CHILDREN WHO HAVE PUT THEMSELVES IN OUR CARE, AND DOES SO IN ACCORDANCE WITH THE LAWS OF THIS NATION AND THE LAWS OF BASIC DECENCY. UNFORTUNATELY, AT THIS POINT, WE WHAT JUDICIARY COMMITTEE HEARINGS ARE NOT ABOUT, THEY ARE NOT SERIOUS ATTEMPTS TO CRAFT LEGISLATION THAT CREATES AN IMMIGRATION SYSTEM THAT WORKS FOR THE AMERICAN PEOPLE. HEARINGS IN THIS CONGRESS ARE NOT ABOUT HOW THE CONGRESS CAN CREATE LEGAL AND CONTROLLED IMMIGRATION ALTERNATIVES SO THAT PEOPLE DO NOT TRY TO COME ILLEGALLY OR SPEND THOUSANDS OF DOLLARS ON SMUGGLERS AND TRAFFICKERS. WE WILL PROBABLY NOT DISCUSS HOW A GENERATION OF TEMPORARY PROTECTED STATUS FOR CERTAIN IMMIGRANTS HAS NOT CREATED A LONG-TERM SUSTAINABLE SITUATION IN IMMIGRANT COMMUNITIES OR SENDING COUNTRIES SO THAT IMMIGRATION IS SAFE, LEGAL, ORDERLY, AND VOLUNTARY. WE WILL SPEND A LOT OF TIME DISCUSSING WHETHER PRESIDENT OBAMA IS TO BLAME. BUT VERY LITTLE TIME ACTUALLY DISCUSSING WHY PEOPLE COME IN THE DEAD OF NIGHT HOLDING ON TO A FREIGHT TRAIN AND RUNNING A GAUNTLET WITH SMUGGLERS AND NOT WHAT CAN BE DONE TO HAVE IMMIGRATION WHERE PEOPLE COME IN THE LIGHT OF DAY. WITH VISAS, PASSPORTS, AND A PLANE TICKET. WE SIMPLY WILL NOT DISCUSS HOW WE GET FROM THIS BROKEN REALITY TO FEASIBLE AND SUSTAINABLE FUTURE OF IMMIGRATION. RATHER THE JUDICIARY COMMITTEE WILL CONTINUE TO FEED THE HUCKSTERISM AND RED MEAT POLITICS THAT AMERICANS HATE. THEY HATE IT WITH GOOD REASON. IN THE YEAR SINCE 2007 WHEN PRESIDENT GEORGE BUSH STARTED RAMPING UP RAIDS AND DEPORTATIONS, RIGHT THROUGH THE TWO MILLION DEPORTATIONS OF PRESIDENT OBAMA, I CAN HONESTLY SAY I HAVE NOT SEEN SUCH FEAR AND ANXIETY IN IMMIGRANT COMMUNITIES. WHERE MOTHERS AND FATHERS ARE KEEPING THEIR CHILDREN OUT OF SCHOOL BECAUSE OF THE FEAR OF BEING ARRESTED BY IMMIGRATION AUTHORITIES. THE HOME RAIDS ANNOUNCED BY THE OBAMA ADMINISTRATION AROUND CHRISTMAS HAVE STRUCK A NERVE. THEY HAVE SPARKED RUMORS AND PANIC AND MULTIPLIED AS CITY AFTER CITY HAS EXPERIENCED RAID OR RUMORS OF RAID. CHILDREN TAKEN AS THEY GO SCHOOL. YES, AS THEY GO TO SCHOOL. THE GOVERNMENT HAS STOPPED THEM AND ARRESTED THEM. THE FEAR AND ANXIETY HAS NOTHING DO WITH DONALD TRUMP OR THE FANTASY HE HAS OF DEPORTING MILLIONS OF IMMIGRANTS OR BARRING PEOPLE FROM THIS COUNTRY BECAUSE OF THEIR RELIGION. THE FEAR IS BORNE OF DECADES OF CONGRESSIONAL INACTION AND LEADERS IN WASHINGTON HOPING THE PROBLEM WOULD JUST GO AWAY. BUT WE WILL NOT BE DISCUSSING THAT AT THE HEARING TOMORROW ON THURSDAY. THE PATH FORWARD THAT WILL ALLOW THE COUNTRY TO MOVE BEYOND THE LEGISLATIVE ROADBLOCK IMPOSED BY THE OPPONENTS OF LEGAL IMMIGRATION. WE WILL AGAIN NOT DISCUSS HOW WE MAKE PROGRESS BUT RATHER, YES, HOW WE BLAME OBAMA. FOR ALL OF THE AMERICANS THAT WANT A LEGAL AND ACCOUNTABLE IMMIGRATION SYSTEM, AND ALL OF THE FAMILIES THAT FEAR A KNOCK ON THEIR DOOR, THIS CONGRESS, AGAIN, SEEMS TO HAVE NOTHING. AND TO DO NOTHING OTHER THAN TO LET THE DEMAGOGUES AND FEAR RULE THE DAY. MR. SPEAKER, THAT'S A SHAME.

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  • 10:06:06 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM ILLINOIS YIELDS BACK. THE CHAIR NOW RECOGNIZES THE…

    THE GENTLEMAN FROM ILLINOIS YIELDS BACK. THE CHAIR NOW RECOGNIZES THE GENTLEMAN FROM NEW JERSEY, MR. LANCE, FOR FIVE MINUTES.

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  • 10:06:15 AM

    MR. LANCE

    MR. SPEAKER, I RISE TODAY TO RECOGNIZE AND CELEBRATE THE TREMENDOUS WORK…

    MR. SPEAKER, I RISE TODAY TO RECOGNIZE AND CELEBRATE THE TREMENDOUS WORK OF DR. ANGUS STEWART DEEDEN OF PRINCETON, NEW JERSEY, WHO WAS AWARDED THE 2015 NOBEL PRIZE IN ECONOMICS. DR. DEEDEN IS A RENOWNED ACADEMIC WHO IS THE DWIGHT D. EISENHOWER PROFESSOR OF INTERNATIONAL AFFAIRS AND PROFESSOR OF ECONOMICS AND INTERNATIONAL AFFAIRS AT THE WOODROW WILSON SCHOOL OF PUBLIC AND INTERNATIONAL AFFAIRS IN THE ECONOMICS DEPARTMENT AT PRINCETON, UNIVERSITY. THE ROYAL SWEDISH ACADEMY OF SCIENCES SELECTED DR. DEEDEN FOR THE SWEDISH NATIONAL BANK PRIZE IN ECONOMIC SCIENCES IN MEMORY OF ALFRED NOBEL FOR HIS WORK REGARDING CONSUMPTION, POVERTY, AND WELFARE. THE WORK IS OF CRITICAL IMPORTANCE TO THE ENTIRE WORLD. THE NOBEL COMMITTEE SAID IN ITS SELECTION ANNOUNCEMENT THAT THE LAUREATE, AN GUS DEEDEN, HAS DEEPENED OUR UNDERSTANDING OF DIFFERENT ASPECTS OF CONDUMMINGS. HIS RESEARCH CONCERNS ISSUES OF IMMENSE IMPORTANCE FOR HUMAN WELFARE, NOT LEAST IN POOR COUNTRIES. DEEDEN'S RESEARCH HAS GREATLY INFLUENCED BOTH PRACTICAL POLICYMAKING AND THE SCIENTIFIC COMMUNITY. BY EMPHASIZING THE LINKS BETWEEN INDIVIDUAL CONSUMPTION DECISIONS AND OUTCOMES FOR THE WHOLE ECONOMY, HIS WORK HAS HELPED TRANSFORM MODERN MICROECONOMICS, MACROECONOMICS, AND DEVELOPMENT ECONOMICS. THE NOBEL COMMITTEE ELABORATED ON ITS DECISION. DR. DEEDEN RECEIVED THIS YEAR'S PRIZE IN ECONOMIC SCIENCES FOR THREE RELATED ACHIEVEMENTS. THE SYSTEM FOR ESTIMATING THE DEMAND FOR DIFFERENT GOODS THAT HE AND JOHN DEVELOPED AROUND 1980. THE STUDIES OF THE LINK BETWEEN CONSUMPTION AND INCOME THAT HE CONDUCTED AROUND 1990. AND THE WORK HE HAS CARRIED OUT IN LATER DECADES ON MEASURING LIVING STANDARDS AND POVERTY IN DEVELOPING COUNTRIES WITH THE HELP OF HOUSEHOLD SURVEYS. DR. DEEDEN IS A MAN OF THE WORLD. NATIVE OF EDEN BURRO, SCOTLAND, HE WAS EDUCATED AS A FIRST DOWNATION SCHOLAR AND RECEIVED HIS UNDERGRADUATE, MASTERS, AND DOCTORATE OF PHILOSOPHY DEGREES FROM THE UNIVERSITY OF CAMBRIDGE WHERE HE WAS LATER A FELLOW AT FITS WILLIAM COLLEGE. HE WAS A FACULTY MEMBER AT THE UNIVERSITY OF BRISTOL BEFORE COMING TO PRINCETON. HE HAS STUDIED AND VISITED MANY NATIONS. USED RESEARCH AND EXPERIENCES FROM AROUND THE WORLD TO SHAPE THE DIRECTION OF HIS WORK, AND WRITTEN EXTENSIVELY IN SOCIETAL ISSUES FACING THE GLOBAL COMMUNITY. HIS SPOUSE IS THE ALEXANDER STEWARD 1886 PROFESSOR OF ECONOMICS IN PUBLIC AFFAIRS AND PROFESSOR OF ECONOMICS AND PUBLIC AFFAIRS AT THE WOODROW WILSON SCHOOL AND ECONOMICS DEPARTMENT AT PRINCETON. SHE'S ALSO AN ACCOMPLISHED AND ACCLAIMED FACULTY MEMBER WHO HAS PUBLISHED GROUNDBREAKING ECONOMIC RESEARCH. ANGUS HAS TWO ADULT CHILDREN AND IN THEIR SPARE TIME HE AND THE PROFESSOR ENJOY THE OPERA AND TROUT FISHING. DR. DEEDEN IS A SUPERB PROFESSOR, MENTOR, COLLEAGUE, FRIEND, AND PRINCE TONIAN. HE'S EXTREMELY WORTHY OF THIS PRE-EMINENT INTERNATIONAL HONOR. MY WIFE AND TWIN BROTHER ARE PROUD TO CALL THEM OUR FRIEND. IT IS A GREAT HONOR TO DR. DEEDEN'S COUNTRY OF BIRTH, THE UNITED KINGDOM, AND HIS ADOPTED CONTRY, THE UNITED STATES OF AMERICA, THAT HE HAS RECEIVED THIS YEAR'S NOBEL PRIZE IN ECONOMICS. IT IS ALSO A GREAT HONOR TO PRINCETON UNIVERSITY, WHOSE MOTTO IS, IN THE NATION'S SERVICE AND IN SERVICE OF ALL NATIONS. ON BEHALF OF THE CONGRESS OF THE UNITED STATES, I CONGRATULATE PROFESSOR DEEDEN. MAY HE CONTINUE HIS MOMENTOUS WORK FOR THE BETTERMENT OF THE HUMAN CONDITION IN THE MANY YEARS THAT LIE AHEAD. I YIELD BACK THE BALANCE OF MY TIME.

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  • 10:10:36 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM NEW JERSEY YIELDS BACK. THE GENTLEMAN FROM OREGON, MR.…

    THE GENTLEMAN FROM NEW JERSEY YIELDS BACK. THE GENTLEMAN FROM OREGON, MR. BLUMENAUER, NOW RECOGNIZED FOR FIVE MINUTES.

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  • 10:10:45 AM

    MR. BLUMENAUER

    THANK YOU, MR. SPEAKER. THE ARMED OCCUPATION BY OUT-OF-STATE INVADERS IN…

    THANK YOU, MR. SPEAKER. THE ARMED OCCUPATION BY OUT-OF-STATE INVADERS IN EASTERN OREGON IS NOW IN ITS SECOND MONTH. THERE'S ALREADY BEEN VIOLENCE, LOSS OF LIFE, DAMAGE TO FEDERAL PROPERTY, AND TOTAL DISRUPTION OF THIS SMALL, QUIET COMMUNITY IN FAR EASTERN OREGON. FROM THIS UNFORTUNATE AND UNNECESSARY SPECTACLE, THERE ARE SOME LESSONS AND CONCLUSIONS TO BE DRAWN. FIRST, AND FOREMOST, IT MUST BE MADE CLEAR THAT ARMED TAKEOVER OF GOVERNMENT OR PRIVATE FACILITIES FOR GRIEVANCES, REAL OR IMAGINED, IS ABSOLUTELY UNACCEPTABLE AND WON'T BE TOLERATED. SECOND, WHILE IT'S EASY TO BE AN ARMCHAIR QUARTERBACK AND SECOND-GUESS THE AUTHORITIES, I THINK IT'S CLEAR THAT A FIRMER RESPONSE TO THE EARLIER BUNDY LAW BREAKING IN NEVADA, OWING THE FEDERAL GOVERNMENT OVER $1 MILLION, AND RESISTING FEDERAL AUTHORITIES AT GUN POINT, MIGHT HAVE PREVENTED OR AT LEAST NOT ENCOURAGED THIS LATEST OUTRAGE, WHICH INCLUDES SOME OF HIS FAMILY MEMBERS COMING TO OREGON FROM NEVADA. THIS IS A CALL TO ACTION FOR AMERICANS WHO TREASURE OUR PUBLIC SPACES, OUR PARKS, OUR FORESTS, OUR RANGE LANDS, OUR MARINE SANCTUARIES. THESE ARE TREASURES THAT BELONG TO ALL AMERICANS. AND IT'S IMPORTANT FOR US TO UNDERSTAND WHAT WE HAVE AND TO UNDERSTAND WHAT'S AT STAKE S THAT WOULD THREATEN OUR HERITAGE. IF AMERICA SOMEHOW DECIDES TO GIVE UP THESE TREASURES, AS SOME DEMAND, SPECIAL CONSIDERATION WOULD NOT BE GIVEN TO THE RICH, PUTTING IT UP FOR THE HIGHEST BIDDER, OR FOR PEOPLE WHO JUST HAPPENED TO BE IN THE PROXIMITY, SPECIAL CONSIDERATION SHOULD BE GIVEN TO THE NATIVE AMERICANS WHO OUGHT TO BE FIRST IN LINE, WHO HAVE BEEN SYSTEMATICALLY SHORTCHANGED BY THE FEDERAL GOVERNMENT, WHICH HAS DENIED THEM THEIR TREATY RIGHTS, SYSTEMATICALLY TAKING AWAY LAND THAT WAS PROMISED TO THEM BY TREATIES THAT WERE NEGOTIATED, PRESUMABLY IN GOOD FAITH, RATIFIED BY CONGRESS, SIGNED BY PAST PRESIDENTS. AND IT'S NOT JUST ENOUGH TO ENFORCE THE LAW. WE SHOULD RECOVER DAMAGES FROM LAWBREAKERS WHO TEAR UP THE LANDSCAPE, DEGRADE WILDLIFE HABITAT, AND DESTROY PROPERTY. I HAVE INTRODUCED LEGISLATION THAT WOULD ALLOW THE FEDERAL GOVERNMENT TO MAKE, IN FACT, NOT ALLOW, REQUIRE THE FEDERAL GOVERNMENT TO MAKE PAYMENTS TO STATE AND LOCAL GOVERNMENTS THAT HAVE HAD TO INCUR SIGNIFICANT COSTS BECAUSE OF THREATS TO FEDERAL PROPERTY. H.R. 4431 WOULD REIMBURSE STATE AND LOCAL OFFICIALS FOR THESE EXTRAORDINARY COSTS INCURRED DUE TO THREATS TO FEDERAL PROPERTY. WHEN WE TALK IN TRILLIONS HERE IN WASHINGTON, D.C., MAYBE TALK OF $100,000 HERE OR $1 MILLION THERE DOESN'T SOUND LIKE VERY MUCH. BUT TO THE STATE OF OREGON, IT MATTERS. AND FOR THIS TINY COMMUNITY, A FEW HUNDRED THOUSAND DOLLARS HAS A SIGNIFICANT IMPACT ON THE LOCAL TAXPAYER AND THEIR SERVICES. THEY SHOULDN'T BE MADE TO PAY THE BILL. ALONG WITH CONGRESSMAN THOMPSON TO CLOSE A LOOPHOLE THAT WOULD NOT ALLOW US TO RECOVER FOR DAMAGES TO FEDERAL POLICIES BY THESE LAWBREAKERS. THIS LEGISLATION WOULD ALLOW THE FEDERAL GOVERNMENT TO GO BACK TO RECOVER ITS COSTS FROM PEOPLE WHO WILLFULLY INFLICT THIS DAMAGE. LET'S ACT NOW, PUT THIS MATTER TO REST, MAKE THE PEOPLE IN EASTERN OREGON WHOLE, AND DISCOURAGE SUCH RECKLESS AND DANGEROUS BEHAVIOR IN THE FUTURE. .

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  • 10:15:21 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM OREGON YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEMAN…

    THE GENTLEMAN FROM OREGON YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEMAN FROM PENNSYLVANIA, MR. THOMPSON, FOR FIVE MINUTES.

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  • 10:15:30 AM

    WELL, THANK YOU, MR. SPEAKER. MR. SPEAKER, LAST MONTH I MET WITH TEACHERS,…

    WELL, THANK YOU, MR. SPEAKER. MR. SPEAKER, LAST MONTH I MET WITH TEACHERS, ADMINISTRATORS, SCHOOL BOARD MEMBERS, EVEN EDUCATORS IN HIGHER EDUCATION THAT TRAINS OUR NEXT GENERATION OF TEACHERS AND SOME GRADUATE STUDENTS WHO WERE IN THAT PROGRAM TO DISCUSS THE EVERY STUDENT SUCCEEDS ACT, OR ESSA, WHICH REPLACES NO CHILD LEFT BEHIND AS OUR NATION'S ELEMENTARY AND SECONDARY LAW. I WAS GLAD TO BE APPOINTED BY SPEAKER RYAN TO THE CONFERENCE COMMITTEE THAT WAS TASKED OF SETTLING THE DIFFERENCES BETWEEN THE HOUSE AND SENATE DIFFERENCES OF ESSA, TO ENSURE THIS LEGISLATION WILL PREPARE STUDENTS FOR LIFE SUCCESS. THE ESSA HAS POWER THAT GIVES BACK TO STATES AND LOCAL AGENCIES. IT PROHIBITS THE SECRETARY FROM ADDING NEW REQUIREMENTS TO STATE EDUCATION PLANS, BEING INVOLVED IN PEER REVIEW PROCESS AND EXCEEDING HIS OR HER STATUTORY AUTHORITY. IT ALSO ALLOWS SCHOOL DISTRICTS TO DISINTANGLE THEMSELVES FROM COMMON CORE WITHOUT PENALTY. ADDITIONALLY, THE ESSA ELIMINATES A CONTROVERSY ADEQUATE YEARLY PROGRESS PROVISION, PAVING THE WAY FOR STATES TO DEVELOP THEIR OWN ACCOUNTABILITY SYSTEMS. WHILE THE NEW LAW KEEPS ANNUAL STANDARDIZED TESTING REQUIREMENTS FOR STUDENTS IN GRADES THREE TO EIGHT AND PUTS THEM ON A MONITOR PROGRESS, IT ELIMINATES THE BURDEN OF TESTING AND SETS UP A PROCESS TO FURTHER REDUCE EVEN MORE STANDARDIZED TESTING IN THE FUTURE. WHILE ASSESSMENTS FOR ELEMENTARY SCHOOLS MUST BE THE SAME FOR ALL PUBLIC SCHOOL STUDENTS STATEWIDE, STATES MAY ALSO CHOOSE, THEY HAVE FLEXIBILITY TO HAVE NATIONALLY RECOGNIZED LOCAL ASSESSMENTS AT THE HIGH SCHOOL LEVEL, AS ALONG AS THEY'RE RELYABLE, COMPARABLE. IN OTHER WORDS, A LOCAL EDUCATION SYSTEM COULD USE THE S.A.T.'S OR A.C.T.'S TO EVALUATE HIGH SCHOOL STUDENTS INSTEAD OF A TEST MANDATED BY THE FEDERAL GOVERNMENT. NOW, THIS FLEXIBILITY SHOULD AND COULD BE, WILL BE EXTENDED TO CAREER AND TECHNICAL EDUCATION FOCUSED STUDENTS WHICH IS APPROPRIATELY MEASURED BY THE PERFORMANCE TEST. NOW, THIS FLEXIBILITY WILL BENEFIT OUR STUDENTS AND STRENGTHEN OUR OVERALL ECONOMY. HIGH SCHOOL STUDENTS WILL HAVE INCREASED ACCESS TO PATHWAYS, LEADING TO CAREERS IN HIGH-SKILLED, HIGH-WAGED JOBS IN TECHNOLOGICAL INDUSTRIES. THE CONNECTION BETWEEN EDUCATION AND OUR STUDENTS' FUTURE CAREERS IS HAS A PROVISION IN THIS LAW THAT ENCOURAGES BUSINESSES TO GET INVOLVED WITH THEIR LOCAL SCHOOLS. SCHOOLS WILL BE ABLE TO PROVIDE APPRENTICESHIPS THAT HAS CREDIT FOR ACADEMIC CAREER COUNSELING. THIS WAS PART OF BIPARTISAN LEGISLATION THAT I HAD WITH CONGRESSMAN LANGEVIN INFORMING COUNSELORS OF LOCAL LABOR MARKET CONDITIONS SO THEY CAN BEST GUIDE THE DECISIONMAKING PROGRESS OF THE STUDENTS AND THEIR PARENTS. NOT ONLY DOES ESSA LIFT OVERLY STRICT TESTING REQUIREMENTS, IT ALSO ENDS THE FEDERAL MANDATE ON TEACHER ASSESSMENTS. STATES WILL BE ABLE TO ENACT THEIR OWN WITH STAKEHOLDERS INCLUDING TEACHERS, PROFESSIONALS AND UNIONS. THE STRUCTURE OF THE SYSTEM WILL NO LONGER BE TIED TO FEDERAL FUNDING AS IT WAS IN NO CHILD LEFT BEHIND. ESSA ALLOWS TEACHERS AND DISTRICT ADMINISTRATORS TO FINANCE PRIORITIES SET AT THE LOCAL LEVEL. THIS COMMONSENSE PROVISION RESTORES CONTROL TO THOSE ON THE FRONT LINES OF EDUCATING OUR STUDENTS AND OUR CHILDREN. THE ESSA ALSO CALLS FOR THE UNITED STATES DEPARTMENT OF EDUCATION TO STUDY HOW TITLE 1 FUNDS ARE ALLOCATED. NOW, TITLE 1 FUNDS ARE USED TO OFFSET THE IMPACT OF POVERTY, ONE OF THE LEADING INFLUENCES IN THE ACADEMIC ACHIEVEMENT OF OUR CHILDREN. NOW, I HAVE LONG BEEN CONCERNED THAT THE CHILDREN ARE PUT AT A DISADVANTAGE BASED UPON THE POPULATION OF THE SCHOOL DISTRICT RATHER THAN THE CONCENTRATION OF POVERTY. NOW, THIS STUDY IS THE RESULT OF AN AMENDMENT I INTRODUCED WHICH GAINED THE SUPPORT OF THE ENTIRE CONFERENCE COMMITTEE, RESPONSIBLE FOR MERGING THE HOUSE AND SENATE VERSIONS. TITLE 1 FUNDS ARE VASTLY IMPORTANT TO STUDENTS WHO ARE LOW INCOME, DISADVANTAGED OR WHO HAVE DISABILITIES. I AM HOPEFUL THIS STUDY WILL MAKE A STRONG ARGUMENT FOR A MORE EQUITABLE DISTRIBUTION OF FUNDS FOR THE AREAS WHICH NEED THEM THE MOST. FUNDING MUST BE BASED ON STUDENT NEED, NOT SCHOOL DISTRICT'S ZIP CODE. THE ESSA IS A FOUR-YEAR RE-AUTHORIZATION OF THE ELEMENTARY AND SECONDARY EDUCATION ACT. FEEDBACK IN EDUCATING OUR STUDENTS ARE SO ESSENTIAL TO MAKING THE RIGHT CHANGES TO OUR EDUCATION SYSTEM AND I APPRECIATE THE FEEDBACK THAT CAME IN THIS PROCESS AS WE SUCCEEDED IN THIS REFORM. AS THESE CHANGES ARE PUT INTO PRACTICE, I WANT TO HEAR FROM YOU. IF A PARTICULAR PROVISION OF ESSA IS HAVING A GREAT AFFECT ON YOUR STUDENT OR SCHOOL DISTRICT, WHETHER IT'S GOOD OR WHETHER IT'S BAD, CONGRESS NEEDS TO KNOW. AS THE IMPLEMENTATION OF THIS NEW LAW BEGINS, I WILL CONTINUE TO TRAVEL ACROSS PENNSYLVANIA'S FIFTH CONGRESSIONAL DISTRICT, KEEPING OUR SCHOOLS UP TO DATE ON THE CHANGE THAT WERE LONG OVERDUE. THANK YOU, MR. SPEAKER, AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 10:20:39 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM PENNSYLVANIA YIELDS BACK. THE CHAIR NOW RECOGNIZES THE…

    THE GENTLEMAN FROM PENNSYLVANIA YIELDS BACK. THE CHAIR NOW RECOGNIZES THE GENTLEMAN FROM ILLINOIS, MR. QUIGLEY, FOR FIVE MINUTES.

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  • 10:20:44 AM

    MR. QUIGLEY

    THANK YOU, MR. SPEAKER. MR. SPEAKER, 2015 WAS A LANDMARK YEAR FOR GLOBAL…

    THANK YOU, MR. SPEAKER. MR. SPEAKER, 2015 WAS A LANDMARK YEAR FOR GLOBAL CLIMATE CHANGE, AND THAT IS NOT A GOOD THING. ACCORDING TO THE NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, 2015 WAS OUR PLANET'S HOTTEST YEAR ON RECORD. LAST YEAR THE GLOBAL AVERAGE LAND SURFACE TEMPERATURE WAS 1.33 DEGREES CELSIUS ABOVE THE 20TH CENTURY AVERAGE AND 10 OF THE LAST 12 MONTHS TIED OR BROKE EXISTING RECORDS FOR HIGHEST MONTHLY GLOBAL TEMPERATURES. DESPITE THE FACT THAT CLIMATE SCIENCE AND RESEARCH CONSISTENTLY DISPLAY THE REALITY OF CLIMATE CHANGE, SOME OF MY COLLEAGUES STILL DEBATE ITS VALIDITY IN THIS VERY CHAMBER. WHAT IS THERE TO DEBATE? MORE THAN 12,000 PEER REVIEWED SCIENTIFIC STUDIES ARE IN AGREEMENT. CLIMATE CHANGE IS REAL AND HUMANS ARE SIGNIFICANTLY TO BLAME. FOR THOSE OF YOU KEEPING TRACK AT HOME, THERE ARE ZERO PEER-REVIEWED SCIENTIFIC STUDIES THAT STATE THE OPPOSITE. ONE OF THE PRIMARY CONCERNS OF THESE SCIENTIFIC STUDIES IS THAT CLIMATE CHANGE MIGHT TRIGGER EVENTS THAT WILL DRAMATICALLY ALTER THE EARTH AS WE KNOW IT. SCIENTISTS HAVE DISCOVERED A NUMBER OF TIPPING POINTS WHERE ABRUPT CHANGES IN CLIMATE COULD CREATE A VARIETY OF NATIONAL AND GLOBAL EFFECTS. IT IS HARD TO PREDICT WHEN THESE EVENTS COULD OCCUR BUT WE KNOW THEY DO, AND WE KNOW THAT WE'LL HAVE VERY LITTLE WARNING. REACHING THESE CRITICAL POINTS COULD LEAD TO ABRUPT CHANGES IN THE OCEAN, SNOW COVER, PERMAFROST AND THE EARTH'S BIOSPHERE. ALARMINGLY, MANY OF THESE EVENTS ARE TRIGGERED BY WARMING LESS LEVELS -- LEVELS OF LESS THAN TWO DEGREES. WE NOW KNOW IN THE LATTER PART OF THIS CENTURY WE WILL FIND THE PLANTS' TEMPERATURE PUSHING NOT TWO DEGREES BUT FOUR, FIVE, EVEN SIX DEGREES CELLS YUSS OF WARMING. WHILE IT MAY SEEM MINOR, EACH DEGREE MAKES A SIGNIFICANT DIFFERENCE. A TWO-DEGREE SHIFT IN TEMPERATURES COULD LEAD TO AN INCREASED RISE IN SEA LEVEL BY 55 CENTIMETERS. LEVELS HAVE ALREADY RISEN BY ABOUT 20 CENTIMETERS OVER THE COURSE OF THE 20TH CENTURY, INCREASING FLOODING ALONG COASTLINES, IMPACTING PEOPLE AND PROPERTIES. A THREE-DEGREE INCREASE COULD IMPACT WATER AVAILABILITY AND ACCELERATE DROUGHT AND EXTREME HEAT WAVES. EACH OF THESE CONDITIONS WOULD NEGATIVELY IMPACT THE PRODUCTION OF MAJOR CROPS LIKE WHEAT AND RICE, LEADING TO GLOBAL FOOD SECURITY RISK. ANYTHING ABOVE A FOUR-DEGREE INCREASE WOULD CAUSE EVEN MORE DRASTIC CONSEQUENCES, SUCH AS EXTREME OCEAN ACIDIFICATION, A DECLINE IN GLACIERS, A CHANGE IN OCEAN CURRENTS AND A NEARLY ICE-FREE ARCTIC IN THE SUMMER. WHILE THE MAJORITY OF THE DETECTED SHIFTS ARE DISTANT FROM MAJOR POPULATION CENTERS, THE IMPLICATIONS WILL BE FELT OVER LARGE DISTANCES, CREATING SIGNIFICANT ECONOMIC AND HUMANITARIAN CONSEQUENCES. AS WITH ANY ABRUPT CHANGE IN THE EARTH'S SYSTEM, A CASCADE OF OTHER TRANSFORMATIONS WILL LIKELY FOLLOW, EACH BUILDING UPON AND EXACERBATING THE OTHERS. WE CAN SEE A SHIFT IN ECOSYSTEMS, THE COLLAPSE OF PERMAFROST IN THE ARCTIC AND AN EXTENSIVE SPECIES LOST. EACH OF THESE CHANGES WOULD TRIGGER MASS IMPLICATIONS FOR THE SYSTEM AND SOCIETY AS A WHOLE. SO WHAT DOES ALL THIS MEAN? IT MEANS WE MUST ACT NOW. AS PRESIDENT OBAMA SAID IN HIS STATE OF THE UNION ADDRESS, IF YOU WANT TO DEBATE THE SCIENCE OF CLIMATE CHANGE, FEEL FREE TO DO SO, BUT YOU'LL BE PRETTY LONELY. TODAY'S AMERICA'S BUSINESS LEADERS, THE PENTAGON, THE MAJORITY OF AMERICANS, THE SCIENTIFIC COMMUNITY AND NATIONS AROUND THE WORLD RECOGNIZE THAT WE CANNOT WAIT TO ACT. WE SAW EVIDENCE OF THIS LAST YEAR WHEN MORE THAN 40,000 NEGOTIATORS FROM 196 COUNTRIES DESCENDED ON THE FRENCH CAPITAL FOR THE PARIS CLIMATE SUMMIT. THE SUMMIT PROVIDED THE WORLD WITH AN EFFECTIVE GLOBAL FRAMEWORK FOR ADDRESSING CLIMATE CHANGE, BUT OUR WORK IS FAR FROM OVER. IT IS TIME TO RECOGNIZE THAT THE CONSEQUENCES OF INACTION ARE FAR TOO GREAT. IF MY COLLEAGUES ARE WILLING TO PUT POLITICAL IDEOLOGIES ASIDE AND RECOGNIZE THAT ACTING ON CLIMATE CHANGE IS NOT JUST IN OUR PLANET'S INTERESTS BUT IN THE INTEREST OF HUMANITY, WE MAY STILL HAVE A FIGHTING CHANCE. ALBERT EINSTEIN ONCE SAID, THE WORLD AS WE HAVE CREATED, IT IS A PROCESS OF OUR THINKING. IT CANNOT BE CHANGED WITHOUT CHANGING OUR THINKING. NOW IS THE TIME FOR CONGRESS TO CHANGE OUR THINKING AND ADDRESS THE REALITY OF CLIMATE CHANGE. THANK YOU AND I YIELD BACK.

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  • 10:25:34 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM ILLINOIS YIELDS BACK. THE CHAIR NOW RECOGNIZES THE…

    THE GENTLEMAN FROM ILLINOIS YIELDS BACK. THE CHAIR NOW RECOGNIZES THE GENTLEMAN FROM TENNESSEE, MR. DUNCAN, FOR FIVE MINUTES.

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  • 10:25:39 AM

    MR. DUNCAN

    THANK YOU, MR. SPEAKER. I REQUEST PERMISSION TO ADDRESS THE HOUSE AND TO…

    THANK YOU, MR. SPEAKER. I REQUEST PERMISSION TO ADDRESS THE HOUSE AND TO REVISE AND EXTEND MY REMARKS.

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  • 10:25:46 AM

    WITHOUT OBJECTION.

  • 10:29:53 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM TENNESSEE YIELDS BACK. THE CHAIR NOW RECOGNIZES THE…

    THE GENTLEMAN FROM TENNESSEE YIELDS BACK. THE CHAIR NOW RECOGNIZES THE GENTLEMAN FROM ILLINOIS, MR. FOSTER, FOR FIVE MINUTES.

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  • 10:29:59 AM

    MR. FOSTER

    THANK YOU. MR. SPEAKER, LAST MONTH PRESIDENT OBAMA CAME TO THIS CHAMBER TO…

    THANK YOU. MR. SPEAKER, LAST MONTH PRESIDENT OBAMA CAME TO THIS CHAMBER TO SPEAK OF A MOON SHOT TO CURE CANCER UNDER THE LEADERSHIP OF VICE PRESIDENT BIDEN. . THIS WEEK THE PRESIDENT ANNOUNCED SPECIFIC PLANS $1 BILLION TO FUND THAT MOON SHOT. AS A SCIENTIST AND AS THE MANAGER OF LARGE SCIENTIFIC PROJECTS, I'M NATURALLY INCLINED TO BE SEPTICAL OF SUCH BOLD CLAIMS FROM POLITICIANS. PRESIDENT NIXON FAMOUSLY LAUNCHED THE SAME WAR ON CANCER IN 1971. TRAGICALLY WE CONTINUE TO WAGE THAT WAR TODAY. MORE RECENTLY, THE DIRECTOR OF THE NATIONAL CANCER INSTITUTE UNDER PRESIDENT BUSH, SET THE GOAL OF ELIMINATING SUFFERING AND DEATH FROM CANCER BY 2015. WE ALL KNOW, UNFORTUNATELY, THAT THAT GOAL WAS NEVER MET. SO WHY IS THIS CANCER MOON SHOT ANY DIFFERENT? IS THIS A MOMENT LIKE 1961 WHEN PRESIDENT KENNEDY STOOD BEFORE A JOINT SESSION OF CONGRESS AND ANNOUNCED HIS GOAL OF SENDING A MAN TO THE MOON BY THE END OF THE DECADE AND SUCCEEDED? OR IS THIS A MOMENT LIKE 1971 WHEN PRESIDENT NIXON DECLARED WAR ON CANCER AND FAILED? I BELIEVE THAT PRESIDENT OBAMA'S CANCER INITIATIVE WILL SUCCEED. AND THE REASON IT WILL SUCCEED IS BRUTALLY SIMPLE. SCIENCE. BASIC SCIENCE AND TECHNOLOGY THAT EXISTS TODAY AND DID NOT EXIST 45 YEARS AGO. SCIENCE THAT WAS GENERATED BY DECADES OF CURIOUSITY DRIVEN FEDERALLY FUNDED RESEARCH, PAID FOR BY THE UNITED STATES TAXPAYER. THERE ARE MANY DECADES OF FEDERALLY SUPPORTED BASIC SCIENTIFIC ADVANCES THAT WILL ALLOW THE OBAMA-BIDEN CANCER MOON SHOT TO SUCCEED. TO GENOME SEQUENCE INDIVIDUAL CANCERS. THE ABILITY TO MANIPULATE THE GENOME AND PRODUCE ANIMAL MODELS TO STUDY AND TEST THE BASIC MECHANISMS OF CANCER. AND IMMUNAL THERAPY TREATMENT WHICH WAS NAMED SCIENCE MAG'S BREAKTHROUGH OF THE YEAR IN 20 SP AND THAT IS BEEN -- 2013 AND HAS BEEN CAPTURING SO MANY HEADS AROUND THE WORLD. IT IS A REVOLUTIONARY TREATMENT THAT USES THE BODY'S OWN IMMUNE SYSTEM TO FIGHT CANCER. SINCE TIME AND MEMORIAL, THERE HAVE BEEN STORIES OF MIRACULOUS REMISSIONS OF CANCER WHEN PATIENTS WITH APPARENTLY INCURABLE CANCERS HAVE EXPERIENCED SPONTANEOUS AND OFTEN COMPLETE REMISSIONS. THESE WERE OFTEN ATTRIBUTED TO AN ACT OF GOD OR PERHAPS THE MORAL CHARACTER OF THE PATIENT. WE NOW UNDERSTAND THAT FOR MOST, IF NOT ALL OF THESE REMISSIONS, THAT THEY HAPPEN WHEN THE BODY'S IMMUNE SYSTEM, WHICH HAS EVOLVED OVER MILLIONS OF YEARS, OF COMBAT WITH FOREIGN VIRAL AND BACTERIAL INVADERS, FINALLY UNDERSTANDS THE CANCER AS AN ENEMY AND HAS ALL THE HORSE POWER THAT IT NEEDS TO ATTACK AND TO CLEAN IT UP. THE IMMUNAL THERAPY NOW GIVES US THE SCIENTIFIC UNDERSTANDING OF HOW TO MASS-PRODUCE THOSE MIRACLES. BUT THIS WOULD NEVER HAVE BEEN DISCOVERED WITHOUT DECADES OF SUSTAINED FEDERAL INVESTMENT IN R&D. AND ALTHOUGH THE BREAKTHROUGHS IN IMMUNAL THERAPY REST UPON A PYRAMID OF FEDERALLY FUNDED RESEARCH, THERE ARE TWO PARALLEL THREADS THAT DIRECTLY LED TO THIS BREAKTHROUGH. ONE WAS PIONEERED BY JIM ALLISON, THEN OF U.C. BERKELEY, AND ARLENE SHARP, OF HARVARD MEDICAL SCHOOL. THE OTHER WAS PIONEERED BY CHECK OF THE MAYO CLINIC. ALL THREE LABS USING FEDERALLY -- FEDERAL FUNDS TO STUDY HOW THE IMMUNE SYSTEM IS CONTROLLED AND HOW IT KNOWS TO KILL FOREIGN CELLS BUT NOT ITS OWN CELLS. THIS WAS A FASCINATING SCIENTIFIC QUESTION BUT NOT ONE WHICH WAS OBVIOUSLY RELEVANT TO CANCER. ALL THREE LABS WERE SPONSORED BY BASIC SCIENCE, PEER REVIEWED GRANTS FROM THE NATIONAL INSTITUTE OF HEALTH. WHICH I MENTIONED, MR. SPEAKER, BECAUSE OF THE WAY THAT PEER REVIEW SEEMS TO BE COMING UNDER ATTACK BY MEMBERS OF YOUR PARTY. IN THE 1990'S, THEY WERE ALL WORKING. THESE GROUPS WERE ALL WORKING ON WHAT BECAME KNOWN AS IMMUNE CHECKPOINTS, WHICH ARE REGULATORY PATHWAYS TO TURN DOWN THE IMMUNE SYSTEM TO PREVENT IT FROM ATTACKING ITS OWN BODY. EVEN ONCE THIS BASIC DISCOVERY WAS MADE, THE ESTABLISHED PHARMACEUTICAL COMPANIES WOULD NOT TOUCH IT. BUT IN 1999, A SMALL BIOTECH IN PRINCETON, NEW JERSEY, FUNDED BY THE NATIONAL INSTITUTE OF HEALTH TOOK ON THE PROJECT. 10 YEARS LATER, ONLY AFTER METERIX WAS ON THE WAY SHOWING THEIR CANCER IMMUNAL THERAPY APPROACH WORKED IN HUMANS IT WAS PURCHASED BY BRISTOL-MYERS SQUIBB FOR $2.4 MILLION. AND NOW THERE ARE MANY DRUG COMPANIES DEVELOPING CHECKPOINT INHIBITOR DRUGS TO TREAT CANCER, AS WELL AS OTHER IMMUNE SYSTEM RELATED TREATMENTS FOR CANCER. SO, AS I MENTIONED BEFORE, THE OBAMA-BIDEN CANCER MOON SHOT WILL LIKELY SUCCEED BECAUSE OF THE TECHNOLOGY AND BASIC SCIENCE THAT WAS GENERATED BY DECADES OF CURIOUSITY-DRIVEN SCIENTIFIC RESEARCH FUNDED BY THE UNITED STATES GOVERNMENT.

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  • 10:35:21 AM

    THE SPEAKER PRO TEMPORE

    THE TIME --

  • 10:35:25 AM

    FOSTER: I'M A REPRESENTATIVE OF U.S. CITIZENS BUT ONE THAT DOES NOT SHARE…

    FOSTER: I'M A REPRESENTATIVE OF U.S. CITIZENS BUT ONE THAT DOES NOT SHARE SMALL GOVERNMENT OR DESIRE TO KEEP OUR GOVERNMENT SMALL AND INDEBTED TO PROVIDE LOW TAX RATES FOR WEALTHY DONORS BECAUSE AMERICANS KNOW THAT SMALL GOVERNMENT DOES NOT ACCOMPLISH GREAT THINGS. LIKE SENDING A MAN TO THE MOON OR CURING CANCER. THANK YOU. I YIELD BACK.

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  • 10:35:47 AM

    THE SPEAKER PRO TEMPORE

    THE TIME OF THE GENTLEMAN FROM ILLINOIS HAS EXPIRED. THE GENTLEWOMAN FROM…

    THE TIME OF THE GENTLEMAN FROM ILLINOIS HAS EXPIRED. THE GENTLEWOMAN FROM TENNESSEE IS RECOGNIZED FOR FIVE MINUTES.

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  • 10:35:53 AM

    >>

    THANK YOU, MR. SPEAKER. AS I COME TO THE FLOOR THIS MORNING I WANT TO…

    THANK YOU, MR. SPEAKER. AS I COME TO THE FLOOR THIS MORNING I WANT TO EXPRESS APPRECIATION FOR OUR 64TH ANNUAL PRAYER BREAKFAST THAT TAKES PLACE TOMORROW.

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  • 10:36:07 AM

    I THINK THIS IS SUCH A WONDERFUL GATHERING THAT WE HAVE EVERY YEAR WHERE…

    I THINK THIS IS SUCH A WONDERFUL GATHERING THAT WE HAVE EVERY YEAR WHERE OUR NATION FOCUSES ON PRAYING FOR OUR NATION. AND I WANT TO WELCOME MY GUEST, DR. AND MS. FRANKLIN PAGE, WHO WILL JOIN US THIS WEEK TO RECOGNIZE THIS TIME AND TO SETASIDE TIME TO CELEBRATE OUR RELIGIOUS LIBERTY AND THE INDIVIDUAL FREEDOM THAT BECOMES THE FOCUS OF THIS WEEK. THERE'S ALSO ANOTHER FOCUS THAT COMES INTO MIND AS WE TALK ABOUT THIS RELIGIOUS LIBERTY. I WANT TO TAKE A MOMENT AND WELCOME AND RECOGNIZE THE ARRIVAL OF MY NEW NEPHEW, GRAYSON LEE HUNTER. HE IS JOINING BROTHERS WORTH AND PRESTON. HIS COUSIN GEORGIA KATE, AND HIS COUSINS, JACK AND CHASE, WHO ARE MY GRANDSONS. WE KNOW THAT BEING ABLE TO GROW UP IN FREEDOM IS SUCH A WONDERFUL GIFT AND WE ARE EXCITED ABOUT THAT. AND EXCITED ABOUT WHAT INDIVIDUAL FREEDOM MEANS TO EACH OF US. AND I WANT TO TURN THE ATTENTION NOW TO SOMETHING THAT CONSTRICTS THAT FREEDOM AND THAT IS WHAT WE SEE THROUGH THE PRESIDENT'S HEALTH CARE LAW. AGAIN, YESTERDAY, WE CAME TO THE FLOOR TO PUSH TO REPEAL THAT LAW. THIS IS SOMETHING THAT WE WILL CONTINUE. AND THERE'S A REASON FOR THIS. LET ME GIVE YOU SOME EXAMPLES. LAST WEEK I WAS OUT IN MY DISTRICT. I VISITED WITH CONSTITUENTS WHO ARE EMPLOYERS. I WANT TO CITE THREE EXAMPLES. ONE AN EMPLOYER OF 76 PEOPLE. ANOTHER, AN EMPLOYER OF 400 PEOPLE, AND ANOTHER, A FRANCHISE OWNER, 3,000 PEOPLE. THAT ARE IN THIS GROUP. LET ME TELL YOU WHAT I HEARD FROM EACH AND EVERY ONE OF THESE INDIVIDUALS. THEIR EMPLOYEES, MANY OF WHOM ARE -- WHO ARE MY CONSTITUENTS, WANT TO SEE A RETURN TO PATIENT-CENTERED, AFFORDABLE HEALTH CARE. THEY DO NOT WANT MORE BIG GOVERNMENT AND MORE UNFUNDED MANDATES THAT THEY ARE BEING FORCED TO DEAL WITH. IT CHANGES THE KIND OF HEALTH CARE THAT THEY CAN GET. NOW, WHEN IT COMES TO HEALTH INSURANCE, WHAT WE HAVE FOUND IS THE ESCALATION OF COST TO THE INDIVIDUAL BECAUSE OF WHAT IS HAPPENING WITH THE MANDATE. THE INSURANCE COST HAS GONE UP. THE OUT-OF-POCKET DEDUCTIBLES, ALL OF THIS IS GOING UP. WHAT WE ALSO SEE IS A CRAMPING OF ACCESS, BECAUSE OF NARROW NETWORKS. ANOTHER THING THAT IS HAPPENING IS WHAT IS TAKING PLACE THROUGH THE OVERSIGHT BOARDS, THE PREVENTIVE SERVICE TASK FORCES. THESE COULD ALSO BE CALLED SOME OF THOSE OBJECTIONY MORE RONIC -- OXYMORONIC FEDERAL AGENCIES. BECAUSE INSTEAD OF OPENING UP THE HEALTH CARE PROCESS WHAT WE SEE IS THEY ARE REDUTION WHAT YOU HAVE ACCESS TO AND -- REDUCING WHAT YOU HAVE ACCESS TO AND IT'S A SLOWDOWN IN PAYMENT REIMBURSEMENTS FOR SO MANY OF OUR MEDICARE RECIPIENTS. THAT, THAT IS WHAT IS HAPPENING IN HEALTH CARE. AND WE ARE HEARING ABOUT IT FROM OUR EMPLOYERS. NOW, THERE ARE OPTIONS THAT ARE OUT THERE. LET ME CITE JUST A COUPLE FOR MY COLLEAGUES. H.R. 2300, THE EMPOWERING PATIENTS FIRST ACT, THAT IS THE BILL FROM DR. PRICE. AND ALSO SPECIAL ATTENTION TO THE REPUBLICAN STUDY COMMITTEE PLAN, THE AMERICAN HEALTH CARE REFORM ACT. IT IS H.R. 2653, AND LEADING THIS CHARGE HAS BEEN MY COLLEAGUE, MY TENNESSEE COLLEAGUE, DR. PHIL ROE. WHO HAS WORKED WITH EACH OF US AS WE HAVE PULLED PROVISIONS INTO THIS BILL TO MAKE CERTAIN THAT WE RETURN TO THE PRINCIPLES OF AFFORDABILITY, ACCESSIBILITY, AND ACCOUNTABILITY IN PATIENT CENTERED, PATIENT CENTERED HEALTH CARE. WE THINK IT IS TIME FOR THESE MOVES TO TAKE PLACE. AND, MR. CHAIRMAN, I WOULD LIKE TO RETURN EVERYONE'S ATTENTION TO THE NEED TO ADDRESS THE ISSUE OF REPLACING THE OBAMACARE LEGISLATION SO THAT WE REDUCE THE COST AND INCREASE THE ACCESS OF HEALTH CARE FOR ALL AMERICANS. I YIELD BACK.

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  • 10:40:48 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEWOMAN YIELDS BACK THE BALANCE OF HER TIME. THE CHAIR NOW…

    THE GENTLEWOMAN YIELDS BACK THE BALANCE OF HER TIME. THE CHAIR NOW RECOGNIZES THE GENTLEMAN FROM CALIFORNIA, MR. MCNERNEY, FOR FIVE MINUTES.

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  • 10:40:56 AM

    I THANK THE CHAIRMAN. MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE MEDICAL…

    I THANK THE CHAIRMAN. MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE MEDICAL ACHIEVEMENTS AND DISCOVERIES OF AN EXTRAORDINARY MAN FROM MY DISTRICT, DR. BENNETT OMALU. HIS MEDICAL ACHIEVEMENTS FOCUSING PRIMARILY ON BRAIN INJURIES HAVE RECENTLY COME TO PROMINENCE WITH THE MOVIE "CONCUSSION." WHICH CHRONICLES DR. OWE LEMIEUX'S CAREER AND CATASTROPHES THAT HIS DISCOVERIES HAVE CREATED WITHIN THE NATIONAL FOOTBALL LEAGUE. DR. OMALU'S MEDICAL RESEARCH IS ALSO PARTICULARLY RELEVANT AS WE PREPARE TO WATCH SUPER BOWL 50 THIS WEEKEND. HES WOULD BORN IN NIGERIA AND WAS THE SIXTH OF SEVEN SIBLINGS. HIS MOTHER WAS A SEAMSTRESS AND HIS FATHER WAS A MINING ENGINEER AND RESPECTED COMMUNITY LEADER WHO ENCOURAGED HIS CAREER IN MEDICINE. HIS LONG MEDICAL CAREER BEGAN AT THE AGE OF 16 WHEN HE STARTED ATTENDING MEDICAL SCHOOL AT THE UNIVERSITY OF NIGERIA. HE EARNED A BACHELOR'S OF MEDICINE AND BACHELOR OF SURGERY IN 1990. IN 1994, DR. OMALU MOVED TO SEATTLE, WASHINGTON, AND COMPLETED AN EPIDEMIOLOGY FELLOWSHIP AT THE UNIVERSITY OF WASHINGTON. IN 1995, HE MOVED TO NEW YORK TO COMPLETE HIS RESIDENCY TRAINING IN CLINICAL PATHOL GY. AFTER COMPLETING HIS RESIDENCY, HE TRAINED AS A FORENSIC PATHOLOGIST AT THE ALLEGHENY COUNTY CORONER'S OFFICE IN PITTSBURGH. IT WAS HERE AFTER CONDUCTING AN AUTOPSY ON FORMER PITTSBURGH STEELER, MIKE WEBSTER, THAT DR. OMALU MADE A GROUNDBREAKING DISCOVERY THAT WOULD FOREVER CHANGE OUR UNDERSTANDING OF BRAIN INJURIES. HE WAS THE FIRST TO IDENTIFY AND DIAGNOSE A NAME, CHRONIC TRAUMATIC INSELF LOPPA THINK. OR C.T.U. IS A DISEASE PREVALENT IN ATHLETES WHO PARTICIPATE IN HIGH CONTACT SPORTS LIKE FOOTBALL, BOXING, AND WRESTLING. SINCE HIS DISCOVERY, WE NOW KNOW IT'S A PROGRESSIVE, DEGENERATIVE DISEASE THAT'S FOUND IN PEOPLE WHO HAVE SUFFERED REPETITIVE BRAIN TRAUMA, INCLUDING SUBCONCUSSIVE HITS, THAT DO NOT SHOW ANY IMMEDIATE SYMPTOMS. EARLY SYMPTOMS OF C.T.U. ARE USUALLY DETECT EIGHT TO 10 YEARS AFTER THE ORIGINAL TRAUMA AND INCLUDE DISORIENTATION, DIZZINESS, AND HEADACHES. AS A DISEASE PROGRESSES, INDIVIDUALS WITH C.T.E. CAN EXPERIENCE MEMORY LOSS, SOCIAL INSTABILITY, ERRATIC BEHAVIOR, AND POOR JUDGMENT. THE WORST CASES SHOW SYMPTOMS OF DEMENTIA, VERTIGO, TREMORS, SLOWING OF MUSCULAR MOVEMENT, AND SUICIDAL TENDENCYCIES. HIS -- TENDENCIES. HIS RESEARCH HAS GIVEN US A GREATER UNDERSTANDING OF LONG-TERM EFFECTS OF BRAIN TRAUMA. ACCORDING TO THE C.D.C., APPROXIMATELY 3.8 MILLION AMERICANS SUFFER FROM CONCUSSIONS A YEAR AND APPROXIMATELY 208,000 PEOPLE SEEK TREATMENT IN EMERGENCY ROOMS FOR TRAUMATIC BRAIN INJURIES. APPROXIMATELY 2/3 OF THOSE EMERGENCY ROOM VISITS ARE CHILDREN, AGES 5 TO 18 AND THE RATE OF RECURRENCE WITH TRAUMATIC BRAIN INJURIES IS HIGH. AN ATHLETE WHO SUSTAINS A CONCUSSION IS FOUR TO SIX TIMES MORE LIKELY TO SUSTAIN A SECOND CONCUSSION. OF COURSE, C.T.E. RESEARCH WILL ALSO APPLY TO VETERANS WHO SUFFER FROM TRAUMATIC BRAIN INJURIES FROM COMBAT ACTIVITIES. DR. OMALU HAS ADVOCATED FOR MORE EDUCATION AMONG ATHLETES WHO PLAY HIGH CONTACT SPORTS, TEACHING THEM ABOUT THE RISKS ASSOCIATED WITH REPETITIVE BRAIN TRAUMA. HE'S COMMITTED HIMSELF TO ADVANCING MEDICAL UNDERSTANDING OF C.T.E., BRAIN INJURIES, AND THEIR EFFECTS ON THE PEOPLE WHO SUFFER FROM THEM. TODAY HE HAS EIGHT ADVANCED DEGREES AND BOARD CERTIFICATION, INCLUDING MASTER OF PUBLIC HEALTH AND EPIDEMIOLOGY, MASTER IN BUSINESS ADMINISTRATION. HE RESIDES IN LOW DIE, CALIFORNIA, AND SERVES AS THE CHIEF MEDICAL EXAMINER OF THE AN WITH A SEEN KEEN VALLEY, CALIFORNIA, AND PROFESSOR AT U.C. DAVIS DEPARTMENT OF MEDICAL PATHOLOGY AND LABORATORY MEDICINE. HE'S COMMITTED TO FUNDING RESEARCH -- FOUNDATION IS COMMITTED TO FUNDING RESEARCH, RAISING AWARENESS, PROVIDING CARE, AND FINDING CURES FOR PEOPLE WHO SUFFER FROM C.T.E. AND TRAUMATIC BRAIN INJURIES. . IT'S IMPORTANT WE RESEARCH BRAIN INJURIES AND FIGURE OUT HOW MUCH HIGH-IMPACT SPORTS ARE AFFECTING OUR FAMILY. I ASK YOU TO HONOR THE RESEARCH AND ACHIEVEMENTS OF DR. BENNET OMALU AND HIS FURTHER UNDERSTANDING OF THE HUMAN BRAIN. MR. SPEAKER, I YIELD BACK.

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  • 10:46:06 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEMAN FROM…

    THE GENTLEMAN YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEMAN FROM FLORIDA, MR. JOLLY, FOR FIVE MINUTES.

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  • 10:46:11 AM

    THANK YOU, MR. SPEAKER. I RISE TODAY IN SUPPORT OF BIPARTISAN LEGISLATION…

    THANK YOU, MR. SPEAKER. I RISE TODAY IN SUPPORT OF BIPARTISAN LEGISLATION THAT THE HOUSE RECENTLY PASSED, H.R. 3700, THE HOUSING OPPORTUNITY THROUGH MODERNIZATION ACT, AND SPECIFICALLY SECTION 103 THAT ADDRESSES A DISTURBING TREND IN FEDERALLY SUBSIDIZED HOUSING. TAXPAYER SUBSIDIZED HOUSING. YOU SEE, LAST SUMMER H.U.D.'S INSPECTOR GENERAL PUBLISHED AN AUDIT REVEALING OVER 25,000 HOUSEHOLDS, RECIPIENTS OF TAXPAYER-SUPPORTED HOUSING, ACTUALLY EXCEEDED THE MAXIMUM ALLOWABLE INCOME TO QUALIFY FOR HOUSING ASSISTANCE. AND IMPORTANTLY, NEARLY TRIPLE THAT NUMBER, ROUGHLY TRIPLE THAT NUMBER IS ON A WAIT LIST FOR HOUSING. AND IN FACT, THOSE ON THE WAIT LIST ARE ECONOMICALLY QUALIFIED. WORSE, TO PAY FOR THESE OVERINCOME TENANTS, AMERICAN TAXPAYERS, YOU AND I ARE ON THE HOOK FOR $104 MILLION NEXT YEAR. WHILE HUNDREDS OF THOUSANDS OF DESPERATE LOW-INCOME AMERICAN FAMILIES LEGITIMATELY IN NEED OF TAXPAYER-SUPPORTED HOUSING TODAY SIT ON A LIST IDLY WAITING FOR MUCH-NEEDED HELP. TENS OF THOUSANDS OF OVERINCOME TENANT SIT IN TAXPAYER-SUPPORTED HOUSING. A NEW YORK FAMILY OF AN INCOME OF NEARLY $500,000 IS RECEIVING TAXPAYER SUBSIDIZED PUBLIC HOUSING. IN NEBRASKA, AN INDIVIDUAL WITH DOUBLE THE INCOME LIMIT AND $1.6 MILLION IN ASSETS IS LIVING IN TAXPAYER-SUPPORTED HOUSING, PAYING $300 A MONTH. IN MY HOME STATE OF FLORIDA, WE HAVE MANY CASES AS WELL. IT IS VERY CLEAR THAT ELIMINATING THIS KIND OF WASTE, FRAUD AND ABUSE IS THE REASON THAT WE SERVE TODAY. IT IS CRITICAL THAT WE DO SO A COMBINATION OF INADEQUATE CONGRESSIONAL DIRECTIVES AND INDIFFERENT FEDERAL BUREAUCRACY HAS LET DOWN THE AMERICAN PEOPLE, THE PEOPLE WHO TRUST CONGRESS TO RESPONSIBLY AND EFFECTIVELY ALLOCATE TAX DOLLARS. AND IT HAS ALSO LET DOWN THE LOW-INCOME FAMILIES ON THE WAIT LIST WHO ARE HOPING FOR AN OPPORTUNITY TO CLIMB OUT OF POVERTY. I AM PLEASED THAT THE HOUSE YESTERDAY ACTED RESPONSIBLY TO PASS LEGISLATION TO STOP THIS FAILED POLICY. SECTION 103 OF THE HOUSING OPPORTUNITY THROUGH MODERNIZATION ACT SETS CLEAR REQUIREMENTS FOR H.U.D. AND NOW FOR LOCAL HOUSING AUTHORITIES. UNDER THIS SECTION, HOUSEHOLDS CURRENTLY IN PUBLIC HOUSING WHOSE INCOME EXCEEDS 120% OF THE MEDIAN INCOME LEVEL FOR TWO CONSECUTIVE YEARS WILL NO LONGER BE PERMITTED TO RECEIVE TAXPAYER ASSISTANCE. FURTHER, PUBLIC HOUSING AUTHORITIES WILL BE REQUIRED TO REPORT ANNUALLY TO CONGRESS AND THE AMERICAN PEOPLE ON TENANT INCOME SO WE MIGHT MAINTAIN PROPER OVERSITE OF THIS PROGRAM. THESE ARE -- OVERSIGHT OF THIS PROGRAM. THIS ENSURES A PATHWAY, A SMOOTH PATHWAY FOR OVERINCOME HOUSEHOLDS FOR A REASONABLE TRANSITION OFF OF TAXPAYER ASSISTANCE, AND IT SHOULD CREATE NEW OPPORTUNITIES FOR THOSE ON THE WAIT LIST. I'M ALSO PLEASED TO SEE THAT H.U.D. IS FINALLY TAKING STEPS TO ADDRESS THIS MATTER. FAR TOO LATE BUT AT LEAST THEY ARE. JUST YESTERDAY THE AGENCY ANNOUNCED THAT IT WILL CONSIDER MUCH-NEEDED, A NEW RULE TO STRENGTHEN THE OVERSIGHT OF OVERINCOME TENANTS IN PUBLIC HOUSING. MR. SPEAKER, WE MUST NOT REST UNTIL WE MAKE SURE THAT TAXPAYER DOLLARS, THOSE MEN AND WOMEN WHO ENTRUST US TO REPRESENT THEM, ARE ONLY GOING TO SUPPORT THOSE MOST IN NEED OF ASSISTANCE. WE STILL HAVE MUCH WORK REMAINING BUT WITH PASSING OF THE HOUSING OPPORTUNITY THROUGH MODERNIZATION ACT, WE HAVE MADE A VERY IMPORTANT FIRST STEP. LET US TOGETHER HOPE THAT THE SENATE AND THE PRESIDENT WILL JOIN US -- JOIN WITH US IN THIS IMPORTANT WORK ON BEHALF OF THE AMERICAN TAXPAYERS THAT WE REPRESENT. THANK YOU, MR. SPEAKER. I YIELD BACK.

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  • 10:49:50 AM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM OHIO,…

    THE GENTLEMAN YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM OHIO, MRS. BEATTY, FOR FIVE MINUTES.

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  • 10:49:56 AM

    MRS. BEATTY

    THANK YOU, MR. SPEAKER. TODAY I RISE IN SUPPORT OF THE AMERICAN HEART…

    THANK YOU, MR. SPEAKER. TODAY I RISE IN SUPPORT OF THE AMERICAN HEART ASSOCIATION GO RED FOR WOMEN CAMPAIGN. GO RED FOR WOMEN CAMPAIGN IS A CRITICAL PUBLIC AWARENESS PLATFORM THAT THE AMERICAN HEART ASSOCIATION USES TO HELP PROMOTE HEART HEALTHY LIFESTYLES. MORE THAN 627,000 WOMEN LOSE THEIR LIFE FROM HEART DISEASE. SINCE THE GO RED FOR WOMEN WAS CREATED IN 2004, WE HAVE MADE TREMENDOUS PROGRESS, MR. SPEAKER, IN THE FIGHT AGAINST CARDIOVASCULAR DISEASE BUT WE STILL HAVE A LONG WAY TO GO. HEART DISEASE IS THE NUMBER ONE KILLER OF WOMEN AND IS MORE DEADLY THAN ALL FORMS OF CANCER COMBINED. HEART DISEASE CAUSES ONE IN THREE WOMEN'S DEATH EACH YEAR, KILLING APPROXIMATELY ONE WOMAN EVERY MINUTE. 90% OF WOMEN HAVE ONE OR MORE RISK FACTORS FOR DEVELOPING HEART DISEASE. SINCE 1984, MORE WOMEN THAN MEN HAVE DIED FROM HEART DISEASE. HEART DISEASE IS UNFORTUNATELY A SILENT KILLER. ACCORDING TO THE AMERICAN HEART ASSOCIATION, NEARLY HALF OF ALL WOMEN ARE NOT AWARE OF HEART DISEASE AND THAT IT IS THE LEADING CAUSE OF DEATH FOR THEM. FOR AFRICAN-AMERICAN WOMEN, THE RISK OF HEART DISEASE IS ESPECIALLY GREAT. CARDIOVASCULAR DISEASE IS THE LEADING CAUSE OF DEATH FOR AFRICAN-AMERICAN WOMEN. OF AFRICAN-AMERICAN WOMEN, 20 YEARS OF AGE AND OLDER, 46.9% HAVE CARDIOVASCULAR DISEASE, YET ONLY 43% OF AFRICAN-AMERICAN WOMEN KNOW THAT HEART DISEASE IS THEIR GREATEST HEALTH RISK. IN FACT, I DID NOT REALIZE THAT I WAS AT RISK FOR STROKE. IN 1999, I SUFFERED A CEREBRAL BRAIN STEM STROKE. BECAUSE OF MY PERSONAL EXPERIENCE, I DECIDED TO BE PART OF THE SOLUTION. AS THIS EPIDEMIC CONTINUES, I DECIDED TO NOT SIT ON THE SIDELINES. IN 2000 I WAS ELECTED TO SERVE ON THE NATIONAL AMERICAN HEART ASSOCIATION BOARD OF DIRECTORS. AT THAT TIME AS THE ONLY NONPHYSICIAN OR NONMEDICAL PROFESSIONAL ON THE BOARD, BUT AS A BOARD MEMBER I SERVED AS A LEADER, GUIDING THE AMERICAN HEART ASSOCIATION'S MISSION, DEALING WITH CULTURAL SENSITIVITIES AND NATIONAL EFFORTS. HERE IN CONGRESS, MY ADVOCACY CONTINUES. AS A MEMBER OF THE CONGRESSIONAL HEART AND STROKE COALITION WHERE MY COLLEAGUES AND I WORK TO RAISE AWARENESS ABOUT THE PREVALENCE AND SEVERITY OF CARDIOVASCULAR DISEASE. LAST CONGRESS I INTRODUCED TWO PIECES OF LEGISLATION WHICH RAISES AWARENESS FOR STROKE AND OTHER CARDIOVASCULAR DISEASES, THE RETURN TO WORK AWARENESS ACT, WHICH WOULD ASSIST SURVIVORS OF STROKE AND OTHER DEBILITATING HEALTH OCCURRENCES IN RETURNING TO WORK. BOTH PIECES OF LEGISLATION HAD THE SUPPORT OF THE AMERICAN HEART ASSOCIATION AND STROKE ASSOCIATION AND THE NATIONAL STROKE ASSOCIATION. I WILL REINTRODUCE, MR. SPEAKER, THESE IMPORTANT PIECES OF LEGISLATION THIS MONTH DURING AMERICAN HEART MONTH, AND I ENCOURAGE ALL MY COLLEAGUES, DEMOCRATS AND REPUBLICANS, TO JOIN ME AS AN ORIGINAL SPONSOR. MR. SPEAKER, YOU WILL NOTICE THAT MANY OF OUR COLLEAGUES TODAY WILL BE WEARING THE RED AMERICAN HEART ASSOCIATION PIN. BY WEARING THIS PIN WE HELP RAISE AWARENESS OF CARDIOVASCULAR DISEASE IN WOMEN AND PROVIDE AN IMPORTANT REMINDER THAT IT IS NEVER TOO EARLY TO TAKE ACTIONS TO PROTECT OUR HEALTH. THIS MONTH AMERICAN MONTH -- THIS MONTH, AMERICAN HEART MONTH, LET US IMPROVE HEALTHY LIFESTYLES AND CONTINUE TO FIGHT AGAINST THIS DEADLY DISEASE FOR OURSELVES AND OUR FAMILIES. LASTLY, MR. SPEAKER, I WANT TO RECOGNIZE ALL THE SURVIVORS OF HEART DISEASE AND THOSE WHO ARE BATTLING HEART DISEASE. I SALUTE THEIR FAMILY MEMBERS AND FRIENDS WHO ARE THEIR SOURCE OF LOVE AND ENCOURAGEMENT TO THEM AS THEY FIGHT THIS DISEASE. AND TO MY FRIEND, THE AMERICAN HEART ASSOCIATION'S C.E.O., NANCY BROWN, AND ALL THE HEALTH CARE PROFESSIONALS AND MEDICAL RESEARCHERS WHO ARE WORKING TO FIND CURES TO IMPROVE TREATMENT , JOIN US. SIGN ONTO MY BILL AND SUPPORT A HEALTHY LIFESTYLE. MR. SPEAKER, THANK YOU AND I YIELD BACK.

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  • 10:54:56 AM

    THE SPEAKER PRO TEMPORE

    YIELD BACK.

  • 12:00:21 PM

    THE SPEAKER

    THE HOUSE WILL BE IN ORDER. THE PRAYER WILL BE OFFERED BY OUR CHAPLAIN,…

    THE HOUSE WILL BE IN ORDER. THE PRAYER WILL BE OFFERED BY OUR CHAPLAIN, FATHER CONROY.

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  • 12:00:28 PM

    CHAPLAIN CONROY

    LET US PRAY, COMPASSION NATURE AND GOD WE GIVE YOU THANKS FOR GIVING US…

    LET US PRAY, COMPASSION NATURE AND GOD WE GIVE YOU THANKS FOR GIVING US ANOTHER DAY. BLESS THE MEMBERS OF THIS PEOPLE'S HOUSE WITH STRENGTH, AND PATIENCE AND FILL THEIR HEARTS WITH UNDERSTANDING AND WILLS WITH COURAGE. AND WORK TO BE DONE NOW MAY THEY RISE TOGETHER TO ACCOMPLISH WHAT IS BEST FOR OUR GREAT NATION AND INDEED FOR ALL THE WORLD. FOR YOU HAVE BLESSED US WITH MANY GRACES AND GIVEN US THE RESPONSIBILITY OF BEING A LIGHT SHINING ON A HILL. AND ON THIS FEAST OF ST. BLAIS BE HEALED OF EVERY INFIRMITYY OF THEIR THROAT. MAY ALL THAT IS DONE THIS DAY BE DONE IN YOUR GREATER HONOR AND GLORY.

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  • 12:01:20 PM

    THE SPEAKER

    THE CHAIR HAS EXAMINED THE JOURNAL OF THE PREVIOUS DAY'S PROCEEDINGS AND…

    THE CHAIR HAS EXAMINED THE JOURNAL OF THE PREVIOUS DAY'S PROCEEDINGS AND ANNOUNCES HIS APPROVAL. PURSUANT TO CLAUSE 1, RULE 1, THE JOURNAL STANDS APPROVED FFMENT THE PLEDGE OF ALLEGIANCE WILL BE LED BY THE GENTLEMAN FROM NEW YORK, MR. HIGGINS. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION UNDER GOD, INDIVISIBLE WITH LIBERTY AND JUSTICE FOR ALL.

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  • 12:01:46 PM

    THE SPEAKER

    THE CHAIR LAYS BEFORE THE HOUSE AN ENROLLED BILL.

  • 12:01:53 PM

    THE CLERK

    TO ENCOURAGE THE EFFORTS OF COUNTRIES OF THE SUB-SAHARAN AFRICA TO DEVELOP…

    TO ENCOURAGE THE EFFORTS OF COUNTRIES OF THE SUB-SAHARAN AFRICA TO DEVELOP AN APPROPRIATE MIX OF POWER SOLUTIONS, INCLUDING RENEWABLE ENERGY, FOR MORE BROADLY DISTRIBUTED ELECTRICITY ACCESS IN ORDER TO SUPPORT POVERTY REDUCTION, PROMOTE DEVELOPMENT OUTCOMES, AND DRIVEN ECONOMIC GROWTH AND FOR OTHER PURPOSES.

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  • 12:02:20 PM

    THE SPEAKER

    ENTERTAIN UP TO 15 REQUESTS FOR ONE-MINUTE SPEECHES ON EACH SIDE OF THE…

    ENTERTAIN UP TO 15 REQUESTS FOR ONE-MINUTE SPEECHES ON EACH SIDE OF THE AISLE. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM SOUTH CAROLINA SEEK RECOGNITION?

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  • 12:02:28 PM

    MR. WILSON

    I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE. REVISE AND…

    I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE. REVISE AND EXTEND MY REMARKS.

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  • 12:02:32 PM

    THE SPEAKER

    WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED.

  • 12:02:34 PM

    MR. WILSON

    SPEAKER, LAST WEEK THE NATIONAL SAFETY COUNCIL HONORED CAROL JOHNSON,…

    SPEAKER, LAST WEEK THE NATIONAL SAFETY COUNCIL HONORED CAROL JOHNSON, PRESIDENT AND C.E.O. OF THE SAVANNAH RIVER NUCLEAR SOLUTIONS, WITH THEIR ANNUAL C.E.O.S WHO GET IT AWARD. THIS AWARD RECOGNIZES LEADERS WHO HAVE BUILT A POSITIVE SAFETY PROTOCOL THROUGH LEADERSHIP AND EMPLOYEE ENGAGEMENT, SAFETY MANAGEMENT SOLUTIONS, RISK RUGS, AND PERFORMANCE MEASUREMENT. MS. JOHNSON WAS RECOGNIZED FOR HER FOCUS ON SAFETY SRNS, ALSO PROMOTING A POSITIVE CULTURE AND CONTINUALLY IMPLEMENTING SAFETY MEASURES AT THE SITE. SHE WAS COMMENDED BY THE DEPARTMENT OF ENERGY FOR HER ROLE IN RECOGNIZING AND CORRECTING SAFETY ERRORS. THIS ACHIEVEMENT REPRESENTS CAROL'S STRONG COMMITMENT TO PRIORITIZE SAFETY FOR EVERY EMPLOYEE AND EVERY TASK WITH FULFILLING JOBS. I APPRECIATE CAROL'S DEDICATION TO THE EMPLOYEES, HER FOCUS ON SAFETY STRENGTHENS THE COMMUNITY AND MAKES THE CENTRAL SAVANNAH RIVER AREA A WORLD CLASS PLACE TO LIVE AND WORK. SHE HAS TRULY EXEMPLIFIED THE GOAL OF CONTINUOUS IMPROVEMENT WITH ZERO HARM. CONGRATULATIONS TO CAROL ON THIS WELL DESERVED RECOGNITION AND AWARD. IN CONCLUSION, GOD BLESS OUR TROOPS, AND MAY THE PRESIDENT BY HIS ACTIONS NEVER FORGET SEPTEMBER 11 AND THE GLOBAL WAR ON TERRORISM.

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  • 12:03:50 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEW YORK SEEK RECOGNITION?…

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEW YORK SEEK RECOGNITION? WITHOUT OBJECTION.

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  • 12:04:00 PM

    NEXT FRIDAY WILL MARK THE 7TH ANNIVERSARY OF THE CRASH OF CONTINENTAL…

    NEXT FRIDAY WILL MARK THE 7TH ANNIVERSARY OF THE CRASH OF CONTINENTAL FLIGHT 3407. THE CAUSE OF THE ACCIDENT WAS PILOT ERROR DUE TO INEXPERIENCE. THE FAMILIES OF THOSE WHO WERE LOST FOUGHT FOR AND WON REFORMS THAT REQUIRE PILOTS TO BE SUFFICIENTLY EXPERIENCED BEFORE THEY ARE ENTRUSTED WITH THE SAFETY OF THE FLYING PUBLIC. BUT REGIONAL AIRLINES ARE TRYING TO ROLL BACK THESE HIGHER STANDARDS, CLAIMING THEY CANNOT FIND ENOUGH EXPERIENCED PILOTS. THAT'S SIMPLY NOT TRUE. THE AIRLINES WOULD SEE THAT IF THEY WOULD INCREASE STARTING SALARIES FOR PILOTS FROM $16,000 A YEAR TO A LEVEL COMMENSURATE WITH THE RESPONSIBILITIES THAT THEY ARE GIVEN. YESTERDAY THE WESTERN NEW YORK CONGRESSAL DELEGATIONS STOOD WITH THE FAMILIES TO SERVE NOTICE THAT WE WILL RELENTLESSLY OPPOSE ANY ATTEMPT TO WATERDOWN THESE REFORMS. WE WILL HONOR THOSE WHO DIED BY ENSURING THAT NEVER AGAIN WILL OUR LOVED ONES BE ENTRUSTED WITH INEXPERIENCED PILOTS. I YIELD BACK THE BALANCE OF MY TIME.

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  • 12:04:58 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM FLORIDA SEEK RECOGNITION?

  • 12:05:01 PM

    >>

    UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE. REVISE AND EXTEND…

    UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE. REVISE AND EXTEND MY REMARKS.

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  • 12:05:06 PM

    TEMPORE WI

    WITHOUT OBJECTION.

  • 12:05:08 PM

    MS. ROS-LEHTINEN

    THANK YOU. MR. SPEAKER, YESTERDAY I HAD THE HONOR OF MEETING SIM HA AND…

    THANK YOU. MR. SPEAKER, YESTERDAY I HAD THE HONOR OF MEETING SIM HA AND LAYA GOLDEN. THEY ARE THE PARENTS OF ISRAELI DEFENSE FORCE LIEUTENANT GOLDEN. AND THEY HAVE STARTED THIS CAMPAIGN, BRINGING HADAR HOME. HOURS AFTER THE DECLARATION OF THE INTERNATIONAL BROKERAGE CEASE-FIRE TO THE 2014 GAZA CONFLICT, HAMAS TERRORISTS MURDERED LIEUTENANT GOLDEN AND DRAGGED HIS BODY DEEP INTO ONE OF THE UNDERGROUND TUNNELS IN GAZA. A YEAR AND A HALF AFTER THIS BRAVE AND PATRIOTIC YOUNG MAN'S MURDER, THE FAMILY STILL LANGUISHES IN LIMBO, UNABLE TO GIVE HADAR A PROPER BURIAL BECAUSE HAMAS IS HOLDING HIS BODY HOSTAGE. BUT THIS WAS A CEASE-FIRE ENTERED BY ISRAEL AT THE URGING OF SECRETARY KERRY AND THE U.N., AND THEY SHOULD BEAR SOME RESPONSIBILITY FOR SECURING HADAR'S RETURN HOME TO ISRAEL. WE HAVE NOTICED HOW LITTLE HAMAS REGARDS HUMAN LIFE BY ITS INDISCRIMINATE ROCKET ATTACKS AGAINST INNOCENT ISRAELI CITIZENS AND BY HOLDING PALESTINIAN CITIZENS AND HUMAN SHIELDS. WE MUST DEMAND HADAR'S RETURN HOME AND SUPPORT THE GOLDEN FAMILY IN ITS EFFORTS TO GIVE HADAR A PROPER BURIAL AND PUT AN END TO THIS NIGHTMARE.

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  • 12:06:31 PM

    THE SPEAKER PRO TEMPORE

    WHAT PURPOSE DOES THE GENTLEMAN FROM RHODE ISLAND SEEK RECOGNITION?

  • 12:06:36 PM

    MR. CICILLINE

    I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

  • 12:06:39 PM

    TEMPORE WITHOUT

    WITHOUT OBJECTION.

  • 12:06:40 PM

    MR. SPEAKER, I RISE TODAY TO HONOR DORIAN MURRAY, AN 8-YEAR-OLD BOY WHO…

    MR. SPEAKER, I RISE TODAY TO HONOR DORIAN MURRAY, AN 8-YEAR-OLD BOY WHO WAS DIAGNOSED WITH A RARE TISSUE AND BONE CANCER. AFTER LEARNING IN DECEMBER THAT HIS DISEASE WAS NO LONGER TREATABLE, DORIAN TOLD HIS FATHER HIS GOAL WAS TO BECOME FAMOUS ALL AROUND THE WORLD. IN RECENT WEEKS AFTER HIS PARENTS POSTED HIS REQUEST ON FACEBOOK, THE WORLD HAS RESPONDED. PEOPLE IN CHINA, ITALY, BRAZIL, GERMANY, AND OTHER COUNTRIES HAVE COME TOGETHER TO POST THEIR MESSAGES OF SUPPORT FOR HIM DURING HIS COURAGEOUS FIGHT AGAINST CANCER. HIS HASH TAG, BE STRONG, IS VIEWED ON SOCIAL MEDIA PLATFORMS BY MILLIONS AND MILLIONS OF PEOPLE. I'M KEEPING DORIAN, HIS MOM, AND DAD IN MY THOUGHTS AND PRAYERS. TODAY THE UNITED STATES HOUSE OF REPRESENTATIVES IS D STRONG. WITH THAT I YIELD BACK, MR. SPEAKER.

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  • 12:07:28 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM MINNESOTA SEEK RECOGNITION?

  • 12:07:31 PM

    >>

    SEEK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

  • 12:07:34 PM

    TEMPORE WITHOUT

    WITHOUT OBJECTION.

  • 12:07:49 PM

    MIKE IS THE FIFTH GENERATION TO WORK IN HIS FAMILY'S DAIRY AND CROP FARM.…

    MIKE IS THE FIFTH GENERATION TO WORK IN HIS FAMILY'S DAIRY AND CROP FARM. IN ADDITION HE'S ALSO A HIGH SCHOOL TEACHER AND FUTURE FARMERS OF AMERICA ADVISOR IN FOREST LAKE, MINNESOTA. AGRICULTURE IS ONE OF THE MOST IMPORTANT SECTORS OF THE AMERICAN ECONOMY THANKS TO FARMERS WHO ARE EDUCATORS LIKE MIKE, MY STATE OF MINNESOTA IS A NATIONAL LEADER IN AGRICULTURE. WE NEED TO CELEBRATE THE HARDWORKING MEN AND WOMEN WHO CONTRIBUTE TO AGRICULTURE IN MINNESOTA AND ALL ACROSS THIS GREAT NATION. THANK YOU, MIKE, FOR WHAT YOU HAVE DONE AND WHAT YOU CONTINUE TO DO FOR AGRICULTURE TODAY AND TOMORROW. AND CONGRATULATIONS FOR YOUR EXCELLENCE IN AGRICULTURE. I YIELD BACK.

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  • 12:08:30 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM NEW YORK SEEK RECOGNITION?

  • 12:08:33 PM

    >>

    TO ADDRESS THE HOUSE FOR ONE MINUTE.

  • 12:08:36 PM

    TEMPORE WITHOUT

  • 12:08:40 PM

    P MRS. MALONEY: MR. SPEAKER, THIS SUNDAY, 60 MINUTES HIGHLIGHTED AN…

    P MRS. MALONEY: MR. SPEAKER, THIS SUNDAY, 60 MINUTES HIGHLIGHTED AN EXPLOSIVE UNDERCOVER INVESTIGATION BY GLOBAL WITNESS. WHICH SHOWED JUST HOW EASY IT IS FOR CRIMINALS AND CORRUPT OFFICIALS TO USE ANONYMOUS SHELL COMPANIES TO BRING DIRTY MONEY INTO THE UNITED STATES. THE REASON IT IS SO EASY IS BECAUSE STATES DON'T REQUIRE THE DISCLOSURE OF THE TRUE BENEFICIAL OWNERSHIP OF SHELL COMPANIES. THIS IS UNACCEPTABLE AND IT HAS TO STOP. AS GLOBAL WITNESS STATED, ANONYMOUS SHELL COMPANIES ARE LIKE GET AWAY CARS FOR CROOKS. THAT'S WHY I AM REINTRODUCING A LAW ALONG WITH MY GOOD FRIEND AND COLLEAGUE, PARTY KING, WHICH WOULD REQUIRE THAT THE PERSON CREATING THE CORPORATION SAY WHO THE BENEFICIAL OWNER IS. AND ALSO TO EXPLAIN WHO REALLY OWNS THE COMPANY. IF STATES DO NOT REQUIRE AND GET THIS INFORMATION, THEN AS A BACKSTOP, TREASURY, THE UNITED STATES TREASURY, WILL HAVE THIS INFORMATION BEFORE AN ACCOUNT CAN BE OPENED. THIS IS A COMMONSENSE, BIPARTISAN ATTACK ON WHAT IS A MAJOR NATIONAL SECURITY AND ENFORCEMENT ISSUE. I URGE MY COLLEAGUES TO JOIN US IN PASSING THIS IMPORTANT LEGISLATION.

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  • 12:10:07 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM ALABAMA SEEK RECOGNITION?

  • 12:10:11 PM

    MRS. ROBY

    MR. SPEAKER, I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.…

    MR. SPEAKER, I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE. REVISE AND EXTEND MY REMARKS.

    Show Full Text
  • 12:10:15 PM

    TEMPORE WITHOUT

    WITHOUT OBJECTION.

  • 12:10:16 PM

    MR. SPEAKER, I RISE TO DRAW ATTENTION TO AN IMPORTANT -- THE IMPORTANT…

    MR. SPEAKER, I RISE TO DRAW ATTENTION TO AN IMPORTANT -- THE IMPORTANT ROLE THAT AGRICULTURE PLAYS IN THIS COUNTRY. I'M HONORED TO SERVE IN A DISTRICT IN WHICH AGRICULTURE REPRESENTS THE LARGEST -- IT IS THE LARGEST EMPLOYER AND IS RESPONSIBLE FOR $11 BILLION IN ECONOMIC IMPACT. IT'S WHY DURING MY TIME ON THE HOUSE AGRICULTURE COMMITTEE I WAS PROUD TO HELP CRAFT A NEW FARM BILL THAT DELIVERS MODERN, MORE CONSERVATIVE POLICY FOR OUR FARMERS. THAT'S WHY NOW AS A MEMBER OF THE APPROPRIATIONS COMMITTEE, I HAVE REMAINED DILIGENT IN MAKING SURE THAT THE PROMISES WE MADE IN THE FARM BILL ARE KEPT. WE FACE A CHALLENGE LAST YEAR IN THE CROP INSURANCE PROGRAM WHEN IT WAS GUTTED IN THE BUDGET. THIS IS A SYSTEM THAT WE PROMISED OUR FARMERS TO HELP TRANSITION AWAY FROM DIRECT PAYMENTS. CUTTING IT WITH UNWAS UNFAIR AND I WAS PROUD TO HELP RESTORE THAT PROGRAM FUNDING BEFORE THE END OF THE YEAR. BUT IT DEMONSTRATED SOMETHING OF A DISCONNECT. MR. SPEAKER, NOT EVERYONE IN CONGRESS REPRESENTS A DISTRICT WITH SUCH A LARGE AGRICULTURAL FOOTPRINT, AND WHAT I TRIED TO EXPLAIN TO MY COLLEAGUES IS THAT WHEN YOU MESS AROUND WITH THE CROP INSURANCE PROGRAM, YOU AREN'T JUST AFFECTING FARMERS WHO PUT SEED IN THE GROUND, YOU ARE AFFECTING THE ONES WHO SELL THE SEED. WHO BUILD THE EQUIPMENT TO CULTIVATE AND HARVEST THE CROP, AND THOSE WHO HELP PROCESS THE GOODS FOR THEIR FINAL PRODUCTS. THAT FARMING DOLLAR TURNS OVER MANY TIMES AND THERE IS AN ENTIRE AGRICULTURE SUPPLY CHAIN THAT IS AFFECTED BY THE FARM POLICIES WE SET IN CONGRESS. MY FARMERS KNOW I HAVE THEIR BACK AND I ALWAYS WILL AS LONG AS I'M IN CONGRESS. I YIELD BACK.

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  • 12:11:51 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM FLORIDA SEEK RECOGNITION?

  • 12:11:54 PM

    >>

    I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

  • 12:11:58 PM

    TEMPORE WITHO

    THANK YOU, MR. SPEAKER. MR. SPEAKER, TODAY I RISE IN SUPPORT OF THE…

    THANK YOU, MR. SPEAKER. MR. SPEAKER, TODAY I RISE IN SUPPORT OF THE AMERICAN HEART ASSOCIATION'S GO RED FOR WOMEN CAMPAIGN. HEART DISEASE AND STROKE CAUSE ONE IN THREE DEATHS AMONG WOMEN EACH YEAR.

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  • 12:12:19 PM

    KILLING APPROXIMATELY ONE WOMAN EVERY 80 SECONDS. THE TROUBLING NUMBERS…

    KILLING APPROXIMATELY ONE WOMAN EVERY 80 SECONDS. THE TROUBLING NUMBERS ARE MORE THAN A STATISTIC. THEY ARE FACT OF LIFE. THAT CAUSE UNNECESSARY PAIN AND SUFFERING TO FAMILIES ACROSS OUR COUNTRY. I SAY UNNECESSARY PAIN AND SUFFERING BECAUSE WE HAVE THE POWER TO CHANGE IT. WE CAN SAVE LIVES. AS MUCH AS 80% OF HEART DISEASE AND STROKE RELATED DEATHS CAN BE PREVENTED WITH EDUCATION AND ACTION. THAT'S WHY I'M STANDING TO RAISE AWARENESS AND ENCOURAGE MY FELLOW MEMBERS AND CONSTITUENTS ACROSS NORTH FLORIDA TO GO RED BY PARTICIPATING IN NATIONAL WEAR RED DAY ON FRIDAY. WEAR SOMETHING RED LIKE THIS JACKET TO SHOW YOUR SUPPORT FOR WOMEN FIGHTING HEART DISEASE AND STROKES AND TOGETHER WE CAN SAVE LIVES. THANK YOU, MR. SPEAKER. I YIELD BACK THE BALANCE OF MY TIME.

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  • 12:13:13 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM UTAH SEEK RECOGNITION?

  • 12:13:17 PM

    >>

    UNANIMOUS TO ADDRESS THE HOUSE FOR ONE MINUTE. REVISE AND EXTEND MY…

    UNANIMOUS TO ADDRESS THE HOUSE FOR ONE MINUTE. REVISE AND EXTEND MY REMARKS.

    Show Full Text
  • 12:13:21 PM

    TEMPORE WITHOUT

    WITHOUT OBJECTION.

  • 12:13:22 PM

    MR. SPEAKER, YESTERDAY THE WORLD HEALTH ORGANIZATION DECLARED THE ZIKA…

    MR. SPEAKER, YESTERDAY THE WORLD HEALTH ORGANIZATION DECLARED THE ZIKA VIRUS OUTBREAK A GLOBAL PUBLIC HEALTH EMERGENCY. THE VIRUS IS PARTICULARLY DANGEROUS TO PREGNANT WOMEN FOR IT HAS BEEN LINKED TO SERIOUS PHYSICAL AND NEUROLOGICAL DEFECTS IN THEIR UNBORN CHILDREN. AS A FATHER OF SIX CHILDREN, I UNDERSTAND HOW FRIGHTENED THIS COULD BE. EXPERTS FEAR THE VIRUS WILL SPREAD MORE WIDELY AS THE UNITED STATES, ESPECIALLY WITH THE OLYMPIC GAMES IN BRAZIL ON THE HORIZON. THAT'S WHY I HAVE INTRODUCED THE ZIKA RESPONSE IN SAFETY ACT.

    Show Full Text
  • 12:13:55 PM

    WITH THAT, MR. SPEAKER, I YIELD BACK.

  • 12:14:30 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION?

  • 12:14:33 PM

    >>

    MR. SPEAKER, I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE,…

    MR. SPEAKER, I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE, REVISE AND EXTEND MY REMARKS.

    Show Full Text
  • 12:14:41 PM

    MR. SPEAKER, I RISE TO BRING ATTENTION TO THE FAILURE OF CALIFORNIA STATE…

    MR. SPEAKER, I RISE TO BRING ATTENTION TO THE FAILURE OF CALIFORNIA STATE AGENCIES AND FEDERAL AGENCIES TO PROPERLY MANAGE CALIFORNIA'S WATER SYSTEM AS A RESULT OF THE EL NINO STORMS WE HAVE BEEN RECEIVING. EL NINO YEARS LIKE THIS ONE IS CALIFORNIA'S HOPE OF DIGGING OUT OF THE HISTORICAL DROUGHT CONDITIONS WE ARE FACING. THERE IS VERY HIGH LIKELIHOOD THAT MOST OF THE STATE WILL EXPERIENCE FLOOD CONDITIONS WHILE COMMUNITIES IN THE SAN JOAQUIN VALLEY I REPRESENT WILL RECEIVE A ZERO WATER ALLOCATION. THIS YEAR WE HAVE ALREADY MISSED AN OPPORTUNITY TO MOVE SIGNIFICANT AMOUNTS OF WATER TO REGIONS OF CALIFORNIA THAT NEED IT MOST. AS A RESULT OF THE STATE AND FEDERAL AGENCY'S INABILITY TO OPERATE IN THE MOST FLEXIBLE RANGE ALLOWABLE, OVER 160,000 ACRE-FEET OF WATER HAS BEEN LOST THIS WEEK ALONE AND OVER HALF A MILLION ACRE-FEET HAS BEEN LOST THIS YEAR. . WATER HAS GONE OUT TO THE OCEAN. STATE AND FEDERAL AGENCIES ARE FAILING TO TAKE ADVANTAGE OF THE WATER IN THE SYSTEM TODAY AND THAT IS A DISSERVICE TO THE PEOPLE OF CALIFORNIA. IT IS SIMPLY IMMORAL. THANK YOU AND I YIELD BACK.

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  • 12:15:52 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM MICHIGAN SEEK RECOGNITION?

  • 12:15:56 PM

    >>

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE AND REVISE AND EXTEND.

  • 12:16:03 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION.

  • 12:16:04 PM

    MR. SPEAKER, I RISE TODAY TO HONOR THE HONORABLE GARY DEWER. CANADA IS ONE…

    MR. SPEAKER, I RISE TODAY TO HONOR THE HONORABLE GARY DEWER. CANADA IS ONE OF OUR NATION'S LONGEST AND GREATEST ALLIES. OUR TRADE WITH CANADA WAS NEARLY $734 BILLION LAST YEAR AND IT SUPPORTS OVER NINE MILLION JOBS. MY HOME STATE OF MICHIGAN SELLS MORE GOODS TO CANADA THAN OUR NEXT 12 TRADING PARTNERS COMBINED. THE AMBASSADOR HAS BUILT A LONG LIST OF ACCOMPLISHMENTS INCLUDING REGULATORY COOPERATION, ADVOCATING FOR THE CONGRESSIONAL GOLD MEDAL FOR THE DEVIL'S BRIGADE AND THE LABELING REQUIREMENTS. I'M GRATEFUL FOR THE AMBASSADOR'S PERSONAL RELATIONSHIP AND RELENTLESS FRIENDSHIP AND I WISH HIM WELL IN HIS FUTURE ENDEAVORS. AS CHAIR OF THE PARLIAMENTARY GROUP, I LOOK FORWARD TO WORKING WITH THE INCOMING AMBASSADOR TO BUILD ON OUR NATION'S GREAT PARTNERSHIP. AND I YIELD BACK.

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  • 12:17:10 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM ILLINOIS SEEK RECOGNITION?

  • 12:17:13 PM

    >>

    WITHOUT OBJECTION.

  • 12:17:19 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION.

  • 12:17:20 PM

    >>

    SCHOOLS WEEK AND RECOGNIZE THE CONTRIBUTIONS THAT CATHOLIC SCHOOLS MAKE TO…

    SCHOOLS WEEK AND RECOGNIZE THE CONTRIBUTIONS THAT CATHOLIC SCHOOLS MAKE TO OUR NATION.

    Show Full Text
  • 12:17:29 PM

    AS A PROUD GRADUATE OF CATHOLIC SCHOOLS, STRONG SUPPORTER OF CATHOLIC…

    AS A PROUD GRADUATE OF CATHOLIC SCHOOLS, STRONG SUPPORTER OF CATHOLIC EDUCATION I HAVE INTRODUCED H.RES. 592 TO HONOR CATHOLIC SCHOOLS WEEK. SINCE 1974, THIS WEEK CELEBRATES THE IMPORTANT ROLE OF THE CATHOLIC EDUCATION PLAYS IN AMERICA, ESPECIALLY THE DEDICATION OF CATHOLIC SCHOOLS TO ACADEMIC EXCELLENCE. THIS YEAR'S THEME, COMMUNITY OF FAITH, KNOWLEDGE AND SERVICE, HIGHLIGHTS THE VALUES THAT ARE CENTRAL TO CATHOLIC EDUCATION. EARLIER THIS WEEK, I VISITED ST. JOSEPH'S SCHOOL IN ROCK PORT, WHICH RECEIVED THREE NATIONAL AWARDS, INCLUDING AWARDS FOR PASTOR FATHER GREG AND THE PRINCIPAL. LATER THIS WEEK I LOOK FORWARD TO VISITING BRIDGEPORT CATHOLIC ACADEMY AND ST. BARN BASS SCHOOL BOTH IN CHICAGO. I APPLAUD THE WORK AND ALL THEY CONTRIBUTE TO OUR GREAT NATION. WITH THAT, I YIELD BACK.

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  • 12:18:38 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM PENNSYLVANIA SEEK RECOGNITION?

  • 12:18:41 PM

    >>

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE.

  • 12:18:46 PM

    I RISE TO HONOR GLEN ROBINSON FOR 45 YEARS SINCE HE WAS ONLY 25 YEARS OLD,…

    I RISE TO HONOR GLEN ROBINSON FOR 45 YEARS SINCE HE WAS ONLY 25 YEARS OLD, COACH ROBINSON HAS BEEN LEADING THE DIPLOMATS TO VICTORY. THEY ARE THE WINGEST COACH IN THE HISTORY OF DIVISION 3 BASKETBALL AND THE THIRD BASKETBALL COACH TO WIN 900 GAMES BEHIND BOBBIE KNIGHT IN PHILADELPHIA AND FOUR TIMES HE HAS BROKEN HIS OWN SCHOOL RECORD FOR BEST RECORD IN THE SEASON. 12 TIMES HE HAS BEEN NAMED REGION COACH OF THE YEAR BY THE NATIONAL ASSOCIATION OF BASKETBALL COACHES. AND 12 TIMES HE HAS BEEN CONFERENCE COACH OF THE YEAR AND ONCE BEEN DIVISION COACH OF THE YEAR AND WON 93 POST-SEASON VICTORIES, 42 NCAA TOURNAMENT VICTORIES AND 16 TRIPS TO THE SWEET 16, 10 TRIPS TO THE LEAD EIGHT AND ONE NATIONAL CHAMPIONSHIP APPEARANCE. TRUE LEADERSHIP IS SERVANT LEADERSHIP, THE FIND THAT FINDS PEOPLE'S STRENGTH. HE IS AN EX POLICEMEN AREA LEADER. 25 OF HIS PLAYERS AND ONE OF THE GREATEST COACHES IN COLLEGE HISTORY AND LANCASTER WILL BE RIGHTLY PROUD OF HIM. I YIELD BACK.

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  • 12:20:07 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM COLORADO SEEK RECOGNITION?

  • 12:20:12 PM

    MR. SPEAKER, ONE ITEM THE AMERICAN PEOPLE SPEAK WITH A SINGLE VOICE, THEY…

    MR. SPEAKER, ONE ITEM THE AMERICAN PEOPLE SPEAK WITH A SINGLE VOICE, THEY WANT CONGRESS TO SECURE OUR BORDERS AND RESTORE THE RULE OF LAW. HERE WE ARE MORE THAN HALFWAY OF THE 114TH CONGRESS AND NOT A SINGLE IMMIGRATION BILL HAS BEEN BROUGHT TO THE FLOOR OR COMMITTEE OR PASSED. WE HEAR PRESIDENTIAL CANDIDATES TAPPING INTO THE SENTIMENT SAYING STOP WHAT YOU ARE DOING AND FIX OUR BROKEN IMMIGRATION PEOPLE. THERE ARE 11 MILLION PEOPLE NOT ALLOWED IN OUR COUNTRY. FAMILIES ARE BEING TORN APART TO GREAT COST TO TAXPAYERS. LET'S FIX OUR IMMIGRATION SYSTEM. COMPREHENSIVE IMMIGRATION REFORM WILL SAVE OVER $200 BILLION AND CREATE JOBS, SECURE OUR BORDERS, RESTORE THE RULE OF LAW. WHAT'S NOT TO LIKE? LET'S COME TOGETHER AROUND FINALLY FIXING THE PROBLEM RATHER THAN COMPLAINING ABOUT IT. I YIELD BACK.

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  • 12:21:14 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM INDIANA SEEK RECOGNITION?

  • 12:21:19 PM

    >>

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE AND REVISE AND EXTEND.

  • 12:21:24 PM

    MR. SPEAKER, I RISE TODAY TO RECOGNIZE AND PAY TRIBUTE TO A BRAVE…

    MR. SPEAKER, I RISE TODAY TO RECOGNIZE AND PAY TRIBUTE TO A BRAVE INDIVIDUAL IN MY DISTRICT, ROCHESTER VOLUNTEER FIREFIGHTER DAVID LAWSON. THE ACCIDENT DELAYED HIS TRIP HOME AND CAUSED MINOR DAMAGE WHILE HE WAS DRIVING HE SEES SMOKE COMING OUT OF VENTS OF A PROPERTY. HE CALLS 911 AND HEADS TO THE HOUSE AND BEGINS BANGING ON THE FRONT DOOR. HE WOKE UP THE ADULTS AND THEY GRABBED THE FOUR KIDS AND GOT OUT SAFELY. WE FOUND OUT THAT THE FIRE STARTED IN THE ATTIC. DAVID LAWSON'S COURAGE AND RESOLVE TO PROTECT THE RESIDENTS OF NORTHERN INDIANA IS TRULY REMARKABLE. ON BEHALF OF THE PEOPLE OF INDIANA'S 2ND CONGRESSIONAL DISTRICT, I THANK DAVID AND EVERY BRAVE MAN AND WOMAN WHO REPRESENTS THE FINEST FIRST RESPONDER COMMUNITY TO PROTECTING ALL OF OUR LOVED ONES AND I YIELD BACK.

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  • 12:22:24 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM ALABAMA SEEK RECOGNITION?

  • 12:22:28 PM

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE. I RISE TO HONOR TWO PEOPLE…

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE. I RISE TO HONOR TWO PEOPLE WHO DIED IN A PLANE CRASH IN MOBILE COUNTY OF ALABAMA. THEY WERE MEMBERS OF THE CIVIL AIR PATROL AND THEY WERE RETURNING FROM A COMPASSION FLIGHT TO BATON RUGE WHERE THEY TRANSPORTED A FELLOW CITIZEN FOR MEDICAL CARE. THEY HAD BEEN MEMBERS SINCE 1991 AND WORKED AS A DOCTOR. HE BEEN FLYING HIS LIFE AND HELPING OTHERS. PHIL SERVED OUR COUNTRY IN VIETNAM. HE HAD JUST JOINED THE CIVIL AIR PATROL LAST YEAR AND SERVED AS THE ASSIST ANT OPERATIONS OFFICER. ONE DAY THIS WILL DRIVE TO A CLOSE AND THEY WILL BE REMEMBERED FOR NOT WHAT WE HAD BUT REMEMBERED FOR WHAT WE DID. DAVID MARKS AND PHIL DRYDEN LEFT THIS WORLD HELPING OTHERS. THE LEGACY OF SERVICE AND SACRIFICE WILL ALWAYS BE REMEMBERED. ON BEHALF OF ALABAMA'S 1ST CONGRESSIONAL ZICT, I OFFER MY CONDOLENCES TO THEIR FAMILIES. THESE AMERICANS WILL BE SORELY MISSED. AND I YIELD BACK.

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  • 12:23:54 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES GENTLEMAN SEEK RECOGNITION?

  • 12:23:58 PM

    AS PART OF THE IRAN NUCLEAR DEAL, THE REGIME WILL RECEIVE 150 BILLION.…

    AS PART OF THE IRAN NUCLEAR DEAL, THE REGIME WILL RECEIVE 150 BILLION. SECRETARY OF STATE HAS ADMITTED THAT SOME OF THE SANCTIONS RELIEF WILL GO TO THE REVOLUTIONARY GUARD CORPS WHICH PROVIDES TRAINING TO TERRORIST GROUPS LIKE HEZBOLLAH AND HAMAS. THE REVOLUTIONARY GUARD CORPS IS SUPPORTING SHOW EAT MILITIAS THAT KILLED AMERICAN TROOPS AND FUELING SECTARIAN TENSIONS IN IRAQ. LIKE MOST OF MY COLLEAGUES IN CONGRESS, I OPPOSE THE IRANIAN DEAL. THE SIMPLE FACT AS THE DEAL MOVES FORWARD SHOULD NOT ALLOW SANCTIONS RELIEF TO BENEFIT TERRORISTS. THE HOUSE PASSED A BILL THAT PROHIBITS PRESIDENT OBAMA FROM REMOVING SANCTIONS ON FOREIGN FINANCIAL INSTITUTIONS THAT ARE DOING BUSINESS. I URGE IMMEDIATE ADOPTION. WE NEED TO DEAL WITH THE VICTIMS OF IRAN'S TERRORISM, AMERICANS. WHO ARE SUBJECT TO TERRORISM BY IRANIAN ACTIONS. UP TO $40 BILLION AWARDED MONEY SHOULD BE RECEIVED BY THESE PEOPLE BECAUSE OF THIS ACTION OUT OF THAT $150 BILLION. THE ADMINISTRATION ARE MAKING TOO MANY OF THESE CONCESSIONS. WE CAN STILL PREVENT SANCTIONS RELIEF.

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  • 12:25:25 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES GENTLEMAN SEEK RECOGNITION?

  • 12:25:27 PM

    >>

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE AND REVISE AND EXTEND MY…

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE AND REVISE AND EXTEND MY REMARKS.

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  • 12:25:35 PM

    MR. SPEAKER LAST WEEKEND I ATTENDED THE GROUNDBREAKING OF THE TALLEST…

    MR. SPEAKER LAST WEEKEND I ATTENDED THE GROUNDBREAKING OF THE TALLEST CROSS IN THE WESTERN HEMISPHERE. IT'S GOING TO BE BUILT IN CORPUS CRISTY, TEXAS BY THE ABUNDANT LIFE FELLOWSHIP. THE CROSS WILL BE VISIBLE FOR MILES ALONG INTERSTATE 37 AND FLIGHTS COMING INTO THE INTERNATIONAL AIRPORT. STANDING AT 210 FEET TALL AND POSSIBLY TALLER DEPENDING ON FUNDRAISING SUCCESS, THE CROSS WILL BE THE LARGEST CROSS ON THIS SIDE OF THE ATLANTIC OCEAN. THIS IS THE PERFECT SETTING FOR THE TALLEST CROSS, BECAUSE IT TRANSLATED FROM LATIN MEANS THE BODY OF CHRIST. IT WILL BE A SYMBOL OF HOPE AND LOCATED DIRECTLY ACROSS INTERSTATE 37 FROM THE STATE VETERAN'S CEMETERY. WHAT A BETTER LOCATION AS A REMINDER THAT CHRIST DIED. GOOD WORK, PASTOR, ABUNDANT LIFE FELLOWSHIP AND EVERYBODY ELSE SUPPORTING THIS PROJECT.

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  • 12:26:46 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM LOUISIANA SEEK RECOGNITION?

  • 12:26:49 PM

    >>

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE. LAST MONTH WASHINGTON,…

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE. LAST MONTH WASHINGTON, D.C., WAS HOME TO THE MARCH FOR LIFE AND THOUSANDS OF AMERICANS CAME FROM ACROSS THE COUNTRY TO ATTEND THAT. THE STATE OF LOUISIANA WAS DISPROPORTIONATELY REPRESENTED WITH HUNDREDS OF FOLKS FROM OUR STATE AND LOUISIANA BEING ONE OF THE MOST PRO-LIFE STATES. THE TERM SANCTITY OF LIFE GETS THROWN AROUND A LOT. IT TRANSCENDS THE ISSUE OF LIFE IN OUR COUNTRY. HUMAN DIGNITY IS THE PRINCIPLE OF HUMAN FREEDOM. AND SANCTITY SHOULD FORM ALL OUR DECISIONS. I'M PRO-LIFE BECAUSE THEY ARE A HUMAN BEING AT EVERY STAGE OF LIFE AND EQUAL AND WORTH DIGNITY. I APPLAUD AND JOIN THE EFFORTS TO DEFEND THE UNBORN. BUT I CALL UPON BOTH POLITICAL PARTIES TO RESPECT AND VALUE THE DIGNITY OF HUMAN EXISTENCE THAT ALL STAGES OF LIFE. WE ALL HAVE THE OBLIGATION OF THE HUMAN PRINCIPLE OF HUMAN DIGNITY AND AS WE CONSIDER CRIMINAL JUSTICE REFORM, THE WAR ON POVERTY, POLICIES IP DESIGNED TO HELP PEOPLE IMPROVE THEIR LIFE, LET US ENGAGE IN POLITICAL DEBATES WITH THIS IN MIND. I YIELD BACK.

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  • 12:28:16 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

  • 12:28:18 PM

    >>

    WITHOUT OBJECTION.

  • 12:28:24 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION.

  • 12:28:25 PM

    ACCORDING TO A RECENT REPORT BY THE DEPARTMENT OF HOMELAND SECURITY,…

    ACCORDING TO A RECENT REPORT BY THE DEPARTMENT OF HOMELAND SECURITY, NEARLY 500,000 FOREIGN NATIONALS OVERSTAYED THEIR VISA IN FISCAL YEAR 2015. THIS IS UNACCEPTABLE AND DANGEROUS. THESE PEOPLE ARE BREAKING THE LAW AND THEY HAVE VIOLATED THE TRUST OF THE AMERICAN PEOPLE. VISA OVERSTAYS ARE AN ONGOING FAILURE OF THIS ADMINISTRATION BY APPROXIMATELY 12 MILLION ILLEGAL IMMIGRANTS LIVE IN OUR COUNTRY AND ESTIMATED 40% CAN BE ATTRIBUTED TO VISA OVERSTAYS, NOW THERE ARE A HALF MILLION MORE. ISIS IS WORKING TO EXPLOIT OUR SECURITY WEAKNESS AND THE ADMINISTRATION HAS TURNED A BLIND EYE TO THE VAST MAJORITY OF VISA OVERSTAYS. HALF A MILLION OVERSTAYED THEIR VISAS LESS YEAR BUT LESS THAN 1% OF THAT GROUP IS CURRENTLY BEING INVESTIGATED. I HAVE WRITTEN SECRETARY JOHNSON TO DEMAND IMMEDIATE ACTION BE TAKEN. THIS ISSUE POSES A CLEAR RISK TO OUR SAFETY AND THE SAFETY OF MY CONSTITUENTS. I YIELD BACK.

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  • 12:29:41 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM ILLINOIS SEEK RECOGNITION?

  • 12:29:44 PM

    >>

    I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE AND REVISE AND…

    I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE AND REVISE AND EXTEND.

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  • 12:29:51 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION.

  • 12:29:52 PM

    WITHOUT OBJECTION.

  • 12:30:28 PM

    BACK. .

  • 12:31:05 PM

    THE CHAIR

    THE HONORABLE THE SPEAKER, HOUSE OF REPRESENTATIVES, SIR. PURSUANT TO THE…

    THE HONORABLE THE SPEAKER, HOUSE OF REPRESENTATIVES, SIR. PURSUANT TO THE PERMISSION GRANTED IN CLAUSE 2-H OF RULE 2 OF THE RULES OF THE U.S. HOUSE OF REPRESENTATIVES, THE CLERK RECEIVED THE FOLLOWING MESSAGE FROM THE SECRETARY OF THE SENATE ON FEBRUARY 3, 2016, AT 11:02 A.M. THAT THE SENATE PASSED, SENATE 2306. SIGNED, SINCERELY, KAREN L. HAAS.

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  • 12:31:26 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM OHIO SEEK RECOGNITION?

  • 12:31:29 PM

    >>

    MR. SPEAKER, AT THE DIRECTION OF THE COMMITTEE ON RULES I CALL UP HOUSE…

    MR. SPEAKER, AT THE DIRECTION OF THE COMMITTEE ON RULES I CALL UP HOUSE RESOLUTION 595 AND ASK FOR ITS IMMEDIATE CONSIDERATION.

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  • 12:31:37 PM

    THE SPEAKER PRO TEMPORE

    THE CLERK WILL REPORT THE RESOLUTION.

  • 12:31:39 PM

    THE CLERK

    HOUSE CALENDAR NUMBER 88, HOUSE RESOLUTION 595, RESOLVED, THAT AT ANY TIME…

    HOUSE CALENDAR NUMBER 88, HOUSE RESOLUTION 595, RESOLVED, THAT AT ANY TIME AFTER THE ADOPTION OF THIS RESOLUTION THE SPEAKER MAY PURSUANT TO CLAUSE 2-B OF RULE 18 DECLARE THE HOUSE RESOLVED INTO THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION FOR CONSIDERATION OF THE BILL H.R. 1675, TO CORRECT THE SECURITIES AND EXCHANGE COMMISSION TO REVISE ITS RULES SO AS TO INCREASE ITS THRESHOLD AMOUNT FOR REQUIRING ISSUERS TO PROVIDE CERTAIN DISCLOSURES RELATED TO COMPENSATORY BENEFIT PLANS. THE FIRST READING OF THE BILL SHALL BE DISPENSED WITH. ALL POINTS OF ORDER AGAINST CONSIDERATION OF THE BILL ARE WAIVED. GENERAL DEBATE SHALL BE CONFINED TO THE BILL AND AMENDMENTS SPECIFIED IN THIS SECTION AND SHALL NOT EXCEED ONE HOURLY EQUALLY AND CONTROLLED BY THE CHAIR AND RANKING MEMBER OF THE COMMITTEE ON FINANCIAL SERVICES. AFTER GENERAL DEBATE THE BILL SHALL BE CONSIDERED FOR AMENDMENT UNDER THE FIVE-MINUTE RULE. IT SHALL BE IN ORDER TO CONSIDER AS AN ORIGINAL BILL FOR THE PURPOSE OF AMENDMENT UNDER THE FIVE-MINUTE RULE AN AMENDMENT IN THE NATURE OF A SUBSTITUTE CONSISTING OF THE TEXT OF RULES COMMITTEE PRINT 114-43. THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE ARE WAIVED. NO AMENDMENT TO THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE SHALL BE IN ORDER EXCEPT THOSE PRINTED IN PART A OF THE RULE IN THE COMMITTEE ON RULES ACCOMPANYING THIS RESOLUTION. EACH SUCH AMENDMENT MAY BE OFFERED ONLY IN THE ORDER PRINTED IN THE REPORT, MAY BE OFFERED HE ONLY BY A MEMBER DESIGNATED IN THE REPORT, SHALL BE CONSIDERED AS READ, SHALL BE DEBATABLE FOR THE TIME SPECIFIED IN THE REPORT EQUALLY DIVIDED AND CONTROLLED BY THE PROPONENT AND AN OPPONENT, SHALL NOT BE SUBJECT TO AMENDMENT, AND SHALL NOT BE SUBJECT TO DEMAND FOR DIVISION OF THE QUESTION IN THE HOUSE OR IN THE COMMITTEE OF THE WHOLE. ALL POINTS OF ORDER AGAINST SUCH AMENDMENTS ARE WAIVED. AT THE CONCLUSION OF CONSIDERATION OF THE BILL FOR AMENDMENT, THE COMMITTEE SHALL RISE AND REPORT THE BILL TO THE HOUSE WITH SUCH AMENDMENTS AS MAY HAVE BEEN ADOPTED. IN ANY MEMBER MAY DEMAND A SEPARATE VOTE IN THE HOUSE ON ANY AMENDMENT ADOPTED IN THE COMMITTEE OF THE WHOLE TO THE BILL OR TO THE AMENDMENT IN THE NATURE OF A SUBSTITUTE MADE IN ORDER AS ORIGINAL TEXT. THE PREVIOUS QUESTION SHALL BE CONSIDERED AS ORDERED ON THE BILL AND AMENDMENTS THERETO TO FINAL PASS ORIGINAL WITHOUT INTERVENING MOTION EXCEPT ONE MOTION TO RECOMMIT WITH OR WITHOUT INSTRUCTIONS. SECTION 2, AT ANY TIME AFTER THE ADOPTION OF THIS RESOLUTION THE SPEAKER MAY, PURSUANT TO CLAUSE 2-B OF RULE 18, DECLARE THE HOUSE RESOLVED INTO THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION FOR CONSIDERATION OF THE BILL H.R. 766. TO PROVIDE REQUIREMENTS FOR THE APPROPRIATE FEDERAL BANKING AGENCIES WHEN REQUESTING OR ORDERING A DEPOSITORY INSTITUTION TO TERMINATE A SPECIFIC CUSTOM MER -- CUSTOMER ACCOUNT. TO PROVIDE FOR ADDITIONAL REQUIREMENTS RELATEDED TO SUBPOENAS ISSUED UNDER THE FINANCIAL INSTITUTIONS REFORM, RECOVERY, AND ENFORCEMENT ACT OF 1989, AND FOR OTHER PURPOSES. THE FIRST READING OF THE BILL SHALL BE DISPENSED WITH. ALL POINTS OF ORDER AGAINST CONSIDERATION OF THE BILL ARE WAIVED. GENERAL DEBATE SHALL BE CONFINED TO THE BILL AND SHALL NOT EXCEED ONE HOUR EQUALLY DIVIDED AND CONTROLLED BY THE CHAIR AND RANKING MINORITY MEMBER OF THE COMMITTEE ON FINANCIAL SERVICES. AFTER GENERAL DEBATE, THE BILL SHALL BE CONSIDERED FOR AMENDMENT UNDER THE FIVE-MINUTE RULE. IT SHALL BE IN ORDER TO CONSIDER AS AN ORIGINAL BILL FOR THE PURPOSE OF AMENDMENT UNDER THE FIVE-MINUTE RULE AN AMENDMENT IN THE NATURE OF A SUBSTITUTE CONSISTING OF THE TEXT OF RULES COMMITTEE PRINT 114-41. THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE ARE WAIVED. NO AMENDMENT TO THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE SHALL BE IN ORDER EXCEPT THOSE PRINTED IN PART B OF THE REPORT OF THE COMMITTEE ON RULES ACCOMPANYING THIS RESOLUTION. EACH SUCH AMENDMENT MAY BE OFFERED ONLY IN THE ORDER PRINTED IN THE REPORT, MAY BE OFFERED ONLY BY A MEMBER DESIGNATED IN THE REPORT, SHALL BE CONSIDERED AS READ, SHALL BE DEBATABLE FOR THE TIME SPECIFIED IN THE REPORT EQUALLY DIVIDED AND CONTROLLED BY THE PROPONENT AND AN OPPONENT, SHALL NOT BE SUBJECT TO AMENDMENT, AND SHALL NOT BE SUBJECT TO A DEMAND FOR DIVISION OF THE QUESTION IN THE HOUSE OR IN THE COMMITTEE OF THE WHOLE. ALL POINTS OF ORDER AGAINST SUCH AMENDMENTS ARE WAIVED. AT THE CONCLUSION OF CONSIDERATION OF THE BILL FOR AMENDMENT, THE COMMITTEE SHALL RISE AND REPORT THE BILL TO THE HOUSE WITH SUCH AMENDMENTS AS MAY HAVE BEEN ADOPTED. ANY MEMBER MAY DEMAND A SEPARATE VOTE IN THE OUST ON ANY AMENDMENT ADOPTED IN THE COMMITTEE OF THE WHOLE TO THE BILL OR TO THE AMENDMENT IN THE NATURE OF A SUBSTITUTE MADE IN ORDER AS ORIGINAL TEXT. THE PREVIOUS QUESTION SHALL BE CONSIDERED AS ORDERED ON THE BILL AND AMENDMENTS THERETO TO FINAL PASSAGE WITHOUT INTERVENING MOTION EXCEPT ONE MOTION TO RECOMMIT WITH OR WITHOUT INSTRUCTIONS.

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  • 12:36:20 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM OHIO IS RECOGNIZED FOR ONE HOUR.

  • 12:36:23 PM

    MR. STIVERS

    MR. SPEAKER, DURING CONSIDERATION OF THIS RESOLUTION, ALL TIME YIELDED IS…

    MR. SPEAKER, DURING CONSIDERATION OF THIS RESOLUTION, ALL TIME YIELDED IS FOR THE PURPOSE OF DEBATE ONLY. AND I NOW YIELD THE CUSTOMARY 30 MINUTES TO THE GENTLEMAN FROM COLORADO, MR. POLL LIST, PENDING WHICH I YIELD MYSELF SUCH TIME AS I MAY CONSUME -- MR. POLIS, PENDING WHICH I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

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  • 12:36:39 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN VIRGINIA TECH.

  • 12:36:41 PM

    MR. STIVERS

    I ASK UNANIMOUS CONSENT THAT ALL MEMBERS MAY HAVE FIVE LEGISLATIVE DAYS TO…

    I ASK UNANIMOUS CONSENT THAT ALL MEMBERS MAY HAVE FIVE LEGISLATIVE DAYS TO REVISE AND EXTEND THEIR REMARKS .

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  • 12:36:45 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION.

  • 12:36:46 PM

    MR. STIVERS

    THANK YOU, MR. SPEAKER. MR. SPEAKER, ON TUESDAY THE RULES COMMITTEE MET…

    THANK YOU, MR. SPEAKER. MR. SPEAKER, ON TUESDAY THE RULES COMMITTEE MET AND REPORTED H.R. -- A RULE FOR H.R. 1675, THE ENCOURAGING EMPLOYEE OTHERSHIP ACT OF 2015, AND FOR H.R. 766, THE FINANCIAL INSTITUTION CUSTOMER PROTECTION ACT. HOUSE RESOLUTION 595 PROVIDES FOR A STRUCTURED RULE FOR CONSIDERATION OF BOTH H.R. 1675 AND H.R. 766. THE RESOLUTION PROVIDES ONE HOUR OF DEBATE EQUALLY DIVIDED BETWEEN THE CHAIR AND RANKING MEMBER OF THE MEMBER ON FINANCIAL SERVICES FOR H.R. 1675 AND H.R. 766. ADDITIONALLY, THE RESOLUTION PROVIDES FOR CONSIDERATION OF ALL SEVEN AMENDMENTS WHICH WERE OFFERED TO H.R. 1675 AND TWO OF THE THREE AMENDMENTS OFFERED TO H.R. 766. FINALLY, MR. SPEAKER, THE RESOLUTION PROVIDES FOR A MOTION TO RECOMMIT FOR EACH BILL. MR. SPEAKER, I RISE TODAY IN SUPPORT OF THE RESOLUTION AND THE UNDERLYING LEGISLATION. H.R. 1675 IS A VEHICLE FOR A GROUP OF FIVE LEGISLATIVE ITEMS AND I'LL SPEAK ABOUT EACH ONE OF THEM BRIEFLY BY TITLE. TITLE 1, THE ENCOURAGING EMPLOYEE OWNERSHIP ACT, WOULD AMEND THE S.E.C. RULE 701 WHICH HASN'T BEEN MODIFIED SINCE 1999. ALTHOUGH SMALL COMPANIES ARE AT THE FOREFRONT OF TECHNOLOGICAL INNOVATION AND JOB GROWTH, THEY OFTEN FACE SIGNIFICANT OBSTACLES AND ARE -- THAT ARE OFTEN ATTRIBUTABLE TO PROPORTIONALLY LARGER BURDENS ON THEM THAN LARGER COMPANIES THROUGH SECURITIES REGULATION. THAT WERE WRITTEN FOR LARGE PUBLIC COMPANIES AND THEY PLACE THE SAME BURDENS ON THESE SMALL COMPANIES WHEN THEY SEEK TO GO PUBLIC. S.E.C. RULE 701 PERMITS PRIVATE COMPANIES TO OFFER THEIR OWN SECURITIES AS PART AFTER WRITTEN COMPENSATION AGREEMENT TO EMPLOYEES, DIRECTORS, GENERAL PARTNERS, TRUSTEES, OFFICERS, OR EVEN CERTAIN CONSULTANTS WITHOUT HAVING TO COMPLY WITH THOSE VERY EXPENSIVE AND BURDENSOME SECURITY REGISTRATION REQUIREMENTS. S.E.C. 701 THEREFORE ALLOWS SMALL COMPANIES TO REWARD THEIR EMPLOYEES THROUGH EMPLOYEE STOCK OWNERSHIP OF A COMPANY. THESE ESOPS HAVE BEEN VERY SUCCESSFUL. THE $5 MILLION THRESHOLD IN RULE 701 HAS NOT BEEN ADJUSTED SINCE 1999. IF THE DISCLOSURE THRESHOLD HAD BEEN ADJUSTED JUST FOR INFLATION, IT WOULD BE MORE THAN $7 MILLION TODAY. THE S.E.C. HAS AUTHORITY TO INCREASE THE $5 MILLION DISCLOSURE THRESHOLD VIA RULE MAKING, BUT LIKE THE 500 SHAREHOLDER RULE WE HAD TO FIX THAT MY COLLEAGUE FROM COLORADO WAS VERY ACTIVE IN HELPING WITH, THIS RULE, RULE 701, HAS NOT BEEN CHANGED AND IT'S UNLIKELY TO HAPPEN WITHOUT CONGRESSIONAL INTERVENTION. THAT'S WHY THIS IS SO IMPORTANT. THIS IS ABOUT GETTING EMPLOYEES ACCESS TO OWNERSHIP IN THEIR COMPANIES. IT'S ABOUT BUILDING OWNERSHIP STRUCTURES THAT MAKE THESE COMPANIES STABLE OVER TIME. IT ALLOWS BUSINESSES TO INCENTIVIZE THEIR EMPLOYEES WITH A DIRECT STAKE IN OWNERSHIP IN THEIR COMPANY. IT WILL HELP WITH EMPLOYEE RETENTION. IT WILL HELP MAKE SURE THAT THESE FIRMS HAVE GREAT OPPORTUNITIES FOR RIMPLETE PROGRAMS. AND FOR THE EMPLOYEES TO REAP SOME OF THE BENEFITS OF THEIR LIFE'S WORK THEY WORK SO HARD FOR EVERY DAY. I'LL GIVE AN EXAMPLE, MR. SPEAKER, A COMPANY IN MY DISTRICT CALLED ALLIED MINERAL, I TALKED ABOUT THIS, MY COLLEAGUE FROM COLORADO MAY REMEMBER, YESTERDAY IN THE RULES COMMITTEE. ALLIED MINERAL IS A COMPANY IN OHIO THAT HAS AN ESOP STOCK OWNERSHIP MODEL AND MANY OF THEIR FOLKS WHO OPERATE FORK LIFTS IN THEIR WAREHOUSE WILL LEAVE WITH A 401-K BECAUSE OF THE ESOP BECAUSE OF IN STOCK OWNERSHIP IN THE VERY COMPANY THEY ARE WORKING IN EVERY DAY THAT EXCEEDS $1 MILLION. IT REALLY HELPS THESE FOLKS WANT TO STAY IN THEIR COMPANY. THEREFORE CUTS DOWN ON RETENTION -- IMPROVES RETENTION AND CUTS DOWN ON NEW TRAINING AND EMPLOYEES, BUT IT HELPS THEM LIVE THEIR RETIREMENT. IT'S A GREAT VEHICLE TO MAKE THESE COMPANIES PRODUCTIVE AND STABLE IN THE FUTURE AS WELL. THAT'S TITLE 1. TITLE 1 ONE'S REALLY IMPORTANT. IT'S UNIVERSALLY AGREED. TO TITLE 2, THE FAIR ACCESS TO INVESTMENT RESEARCH DIRECTS THE S.E.C. TO CREATE A SAFE HARBOR FOR CERTAIN PUBLICATIONS OR DISTRIBUTIONS OF RESEARCH REPORTS BY BROKERS OR DEALERS, DISTRIBUTING SECURITIES SUCH AS EXCHANGE RATED FUNDS. EXCHANGE TRADED FUND IS AN INVESTMENT VEHICLE THAT -- WHO SHARES TRADE INTERDAY ON STOCK EXCHANGERS AT MARKET DETERMINED PRICES. INVETORS CAN BUY AND SELL FUNDS THROUGH A BROKER OR THEIR BROKERAGE ACCOUNT. JUST AS THEY WOULD ANY OTHER PUBLICLY TRADED COMPANY. OVER THE PAST THREE DECADES, EXCHANGE TRADED FUNDS HAVE GROWN FROM AT THE BEGINNING LESS THAN 100 FUNDS WITH ABOUT $100 BILLION TO NOW 1,300 FUNDS WORTH $1.8 TRILLION IN MARKET COMPANY. HOWEVER DUE TO ANOMALIES IN OUR SECURITIES LAWS AND OUR REGULATIONS, MOST OF THE BROKER DEALERS DON'T PUBLISH RESEARCH ABOUT THESE EXCHANGE TRADED FUNDS DESPITE THEIR POPULARITY AND GROWTH. THE S.E.C. HAS IMPLEMENTED SIMILAR SAFE HARBORS TO WHAT THIS BILL WOULD SUGGEST FOR OTHER ASSET CLASSES, INCLUDING LISTED EQUITIES, CORPORATE DEBT, AND CLOSED IN FUNDS. THIS SECTION WILL HELP INVESTORS GET ACCESS TO USEFUL INFORMATION WHEN DECIDING WHETHER TO INVEST IN EXCHANGE TRADED FUNDS IN SIMILAR PRODUCTS. TITLE 2 I THINK IS ALSO PRETTY AGREED TO. TITLE 3 THE SMALL BUSINESS MERGERS ACQUISITION SALES AND BROKERAGE SIMPLIFICATION ACT ENDS THE SECURITIES AND EXCHANGE ACT TO EXTEND ACQUISITION BROKERS FROM LEGISLATION UNDER THE SECURITIES AND EXCHANGE COMMISSION. MERGERS AND ACQUISITION BROKERS PERFORM SERVICES IN CONNECTION WITH TRANSFER OF OWNERSHIP OF MOSTLY SMALLER PRIVATELY HELD COMPANIES. AN ESTIMATED $10 TRILLION OF PRIVATELY HELD COMPANIES WERE SOLD OR TRADED LAST YEAR AS BABY BOOMERS RETIRE AND FOLKS WANT TO FIGURE OUT HOW TO -- WHAT TO DO WITH THEIR LIFE'S WORK AND HOW TO MOVE THEIR COMPANY TO WAY THAT THE COMPANY CAN CONTINUE TO EXIST. BUT IT'S IMPORTANT FOR TO US REDUCE THE COSTS ASSOCIATED WITH THIS FLOW OF CAPITAL BECAUSE THE REGISTRATION FROM S.E.C. FOR THESE BROKERS CAN BE VERY EXPENSIVE. THE BROKERS CURRENTLY HELP SUCCESSFUL ENTREPRENEURS TAKE THE CAPITAL OUT OF THEIR COMPANY AND MAYBE MOVE ON TO THE NEXT PHASE OF THEIR LIFE WHILE SIMULTANEOUSLY ADDING AND AIDING NEW ENTREPRENEURS THE ABILITY TO INVEST THEIR CAPITAL IN THE CONTINUED SUCCESS OF THEIR COMPANY. THEY FOSTER ECONOMIC DEVELOPMENT, GROWTH, AND INNOVATION. AND DESPITE THE VALUABLE SERVICES OF THESE BROKERS, THE COMPLIANCE COST FOR THIS NEW REGULATION WITH THE S.E.C. CAN BE VERY EXPENSIVE. FOR EACH INDIVIDUAL BROKER INSIDE AN ORGANIZATION, IT CAN COST $150,000, AND THE ONGOING COSTS ARE ABOUT $75,000 A YEAR. LET'S SAY SOMEBODY DOES FOUR DEALS A YEAR BECAUSE DEALS TAKE A LITTLE WHILE TO HAPPEN AND THEY ARE NOT GOING TO DO A TON OF DEALS, SMALL FIRM MIGHT DO THAT FEW NUMBER OF DEALS, IF YOU DO FOUR DEALS A YEAR, YOU HAVE JUST ADDED -- THE FIRST YEAR, $75,000 TO THE COST OF EACH DEAL. THAT IS -- THAT'S TOO HIGH AND IT'S CAUSING PROBLEMS AND WE NEED TO MAKE SURE THAT WE STREAMLINE THIS AND ALLOW THESE COMPANIES, SMALL COMPANIES, TO HAVE ACCESS TO THE SAME TYPE OF ACCESS TO CAPITAL THAT OUR BIG COMPANIES HAVE. THE LIMIT IN THIS IS UP TO $250 MILLION IN SALES, AND AS MANY PEOPLE IN THIS CONGRESS KNOW, UP TO ABOUT $500 MILLION IN SALES IS WHAT WE CALL MIDDLE MARKET COMPANIES OF THE MIDDLE MARKET COMPANIES DOT THE MAPS OF EACH WOMEN OF OUR DISTRICTS. THESE MIDDLE MARKET COMPANIES AREN'T NECESSARILY NAMES YOU MIGHT RECOGNIZE OR THE AMERICAN PEOPLE WOULD REICH RECOGNIZE, BUT THEY ARE THE FASTEST GROWING PART OF OUR ECONOMY. THEY ARE MAJOR EMPLOYERS IN OUR COMMUNITIES, AND THEY DESERVE ACCESS TO CAPITAL JUST LIKE THE BIG COMPANIES DO. . TITLE 3 IS SO IMPORTANT AND RELIEVE SOME OF THE FEES FOR THESE MERGER AND ACQUISITION BROKERS. TITLE 4, THE SMALL COMPANY ACT PROVIDES VOLUNTARY EXEMPTION WITH ANNUAL REVENUES UP TO $250 MILLION FROM THE EXTENDABLE BUSINESS REPORTING LANGUAGE. IT'S EXPORTABLE FILES. THE DATA IS STILL AVAILABLE. THE POINT HERE IN TITLE 4 IS THAT THE DATA WILL BE AVAILABLE BUT NOT IN A DOWNLOADABLE FORMAT. YOU MIGHT HAVE TO LOOK AT IT IN PDF. IT WON'T DENY ANYBODY INFORMATION BUT THE COST OF THIS NEW FORMAT IS ADDING UP TO $50,000 IN COSTS FOR THESE SMALL COMPANIES AND THE QUESTION IS DOES THE COST REALLY MEET THE BENEFIT. AND SO IT ALLOWS AN EXEMPTION FOR THESE SMALL COMPANIES AND AGAIN, IT IS AN OPTIONAL EXEMPTION, NOT A MANDATORY EXEMPTION AND DOESN'T END THIS DOWNLOADABLE PROGRAM, BUT ALLOWS THESE SMALL COMPANIES TO BE MORE FLEXIBLE IN THE WAY THEY DO IT BECAUSE OF THE COST. TITLE REQUIRES THE S.E.C. TO REPORT TO CONGRESS ON THE XBRL REQUIREMENTS SO IT CAN UNDERSTAND HOW THE STRUCTURED DATA IS UTILIZED. WE HAVE TITLE 5, STREAMLINING EXCESSIVE AND COSTLY REGULATION REVIEW ACT IN THE SECURITIES AND EXCHANGE COMMISSION. IT ACTUALLY IS BUILT ON SOME EXECUTIVE ORDERS. TITLE 5 IS MODELED AFTER EXECUTIVE ORDERS THAT THE PRESIDENT DID LAST YEAR. IT WOULD FORCE THE INDEPENDENT AGENCY'S AND REQUIRE THE -- TO REVIEW REGULATIONS AT LEAST EVERY 10 YEARS AND IDENTIFY ANY OUTDATED AND UNNECESSARY REGULATIONS THAT ARE IMPOSED ON DEPOSITORY INSTITUTIONS. WE NEED TO DO THE SAME THING FOR THE S.E.C. AND THAT'S WHAT THIS DOES AND I THINK IT WILL HELP STREAMLINE AND MAKE SURE THAT PAPERWORK IS MORE REASONABLE OVER TIME ESPECIALLY FOR OUTDATED AND OVERLY BURDENSOME REGULATIONS. SO THAT IS 1675, THE OTHER BILL IS H.R. H.R. 766, FINANCIAL INSTITUTION CUSTOMER PROTECTION ACT AND YOU HEARD WHERE THE DEPARTMENT OF JUSTICE AND PLAN WAS TO CHOKE OFF BANKING SERVICES FROM BUSINESSES THAT THEY FOUND UNDESIRABLE. RATHER THAN INVESTIGATING AND PROSECUTING COMPANIES THAT WERE ALLEGED TO HAVE COMMITTED CRIMES LIKE FRAUD AND ANY OTHER MISDEEDS, THE DEPARTMENT OF JUSTICE ISSUED SUBPOENAS TO FINANCIAL INSTITUTIONS TO ASK ABOUT ENTIRE INDUSTRIES AND EFFECTIVELY COERCED FINANCIAL INSTITUTIONS TO CEASE OFFERING BANKING SERVICES TO MANY OF THOSE INDUSTRIES. THE DEPARTMENT OF JUSTICE PARTNERED WITH THE FDIC TO IDENTIFY MERCHANTS THAT THEY SAID POSED HIGH RISK FOR CONSUMERS, NOTWITHSTANDING THE QUESTION OF WHETHER THESE MERCHANTS WERE OPERATING UNDER THE LAW OR ILLEGALLY. IN DOING SO, THE FDIC EQUATED LEGITIMATE AND REGULATED INDUSTRIES SUCH AS COIN DEALERS, FIREARMS AND AMMUNITION SALES INDUSTRIES WITH INHERENTLY ILLEGAL ACTIVITIES SUCH AS PONZI SCHEMES AND DEBT CONSOLIDATION SCAMS AND DRUG ITEMS. THEY DIDN'T SEPARATE OUT LEGAL BUSINESSES WITH ILLEGAL BUSINESSES. IF THEY WANT TO DO SOMETHING WITH REGARD TO BUSINESSES THAT ARE ILLEGAL AND MAKE SURE FOLKS CAN'T GET ACCESS, THAT'S A LEGITIMATE THING. THE WAY THEY IDENTIFIED HIGH RISK MADE LEGAL BUSINESSES LOSE THEIR ACCESS TO FINANCIAL SERVICES. THEY WERE TERM NAILTED BY THEIR -- TERMINATED BY THEIR BANKS AND THEY HAD IN MANY CASES NO PLACE TO TURN. THIS IS A BLATANT OVERREACH BY OUR FEDERAL REGULATORS AND MANY OF US BELIEVE THIS BILL IS AN IMPORTANT STEP TO MAKE SURE THAT BUSINESSES THAT ARE LEGALLY OPERATING HAVE THE CONFIDENCE THAT THEY WILL HAVE ACCESS TO BANKING SERVICES. THAT'S THE KEY. THE LAST BILL MAKES SURE THAT LEGALLY OPERATING BUSINESSES HAVE ACCESS TO LEGAL BANKING SERVICES. AND THAT THEY CAN'T BE INTIMIDATED BY THEIR REGULATORS TO MAKE SURE THAT LEGALLY OPERATED BUSINESSES DON'T HAVE ACCESS TO BANKING SERVICES. I LOOK FORWARD TO DEBATING THESE HOUSE BILLS AND I URGE SUPPORT FOR BOTH THE RULE AND THE UNDERLYING LEGISLATION AND I RESERVE.

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  • 12:50:50 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM COLORADO.

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  • 12:50:53 PM

    I THANK THE GENTLEMAN FROM OHIO FOR YIELDING AND I YIELD MYSELF SUCH TIME…

    I THANK THE GENTLEMAN FROM OHIO FOR YIELDING AND I YIELD MYSELF SUCH TIME AS I MAY CONSUME. I RISE IN RELUCTANT OPPOSITION TO THIS RULE TODAY BECAUSE IT'S CLOSED TO A RULE THAT WOULD HAVE SUBSTANTIAL BIPARTISAN REPORT. THE RULE TODAY PROVIDES FOR CONSIDERATION OF H.R. 1675 ENCOURAGING EMPLOYEE OWNERSHIP ACT AND H.R. 766, THE FINANCIAL CUSTOMER PROTECTION ACT OF 2015. IN TERMS OF PROCESS, THERE'S SOME CREDIT TO BE GIVEN UNDER THIS RULE. THE RULE WAS VERY CLOSE WITH A ONE MAJOR FAULT, WHICH I WILL DISCUSS IN DETAIL TO FULL ILLING THE PROMISES LAID OUT BY THE NEW SPEAKER OF THE HOUSE OF REPRESENTATIVES. AS YOU MAY RECALL, THERE WAS A PROMISE TO THIS HOUSE THAT EACH MEMBER WOULD HAVE THEIR IDEAS CONSIDERED ON THE HOUSE FLOOR. THAT'S A GOOD IDEA. OF COURSE, IF IT WAS AN IDEA THAT DIDN'T HAVE A MAJORITY OF SUPPORT, THAT'S FINE. THERE WOULD BE A VOTE, DEBATE ON IT. IF IDEAS CAME TO THE FLOOR, DEBATED AND WERE CONSIDERED WORTHY BY A MAJORITY OF THIS BODY, THEY WOULD PASS EVEN IF A PARTICULAR COMMITTEE OF JURISDICTION DIDN'T LIKE THE BILL OR THE LEADERSHIP DIDN'T LIKE THE AMENDMENT, THE WILL OF THE BODY COULD BE HEARD FOR COMMONSENSE IMPROVEMENTS. THIS PROMISE OF REGULAR ORDER IS SO SIMPLE, SO ATTRACTIVE, SO DESIRABLE BY THE AMERICAN PEOPLE TO LET US DO OUR JOB. YET UNFORTUNATELY IT STILL REMAINS ELUSIVE. IN THE FIRST BILL, H.R. 1675, THERE WERE SEVEN AMENDMENTS SUBMITTED TO THE RULES COMMITTEE. ALL SEFFVN AMENDMENTS REMAIN IN ORDER TO BE CONSIDERED AND IF THAT WAS ALL THIS RULE CONTAINED, I WOULD BE PROUD TO SUPPORT THAT RULE. H.R. 1675 IS GOOD LEGISLATION AND ANY ONE OF US CAN SAY WE DON'T PERSONALLY AGREE WITH EVERY WORD AND THERE ARE AMENDMENTS TO ADDRESS SOME OF THE DEFICIENCIES IN THE BILL, BUT IN ITS TOTAL IT IS A PACKAGE THAT SHOULD BE CONSIDERED FOR AN AFFIRMATIVE VOTE BY MEMBERS OF BOTH PARTIES AND I'M CONFIDENT IT WILL HAVE STRONG BIPARTISAN SUPPORT. IT PROMOTES AND MAKES NEEDED UPDATES IN EMPLOYEE OWNERSHIP, WHICH IS A DEBATE FORM OF CORPORATE GOVERNANCE. WE HAVE COMPANIES IN MY DISTRICT THAT USE IT. THE LEGISLATION ALSO CLEARS AWAY RED TAPE FOR SMALL AND MIDDLE MARKET COMPANIES WHICH MY GOOD FRIEND SPOKE ABOUT HERE ON THE FLOOR AND IN THE RULES COMMITTEE. ONE OF THE BILL'S TITLES TAKES AWAY AND REDUCES MARKET TRANSPARENCY IN THE WRONG DIRECTION BUT I'M PROUD TO SAY, WE HAVE AMENDMENTS THAT WILL BE CONSIDERED TODAY BY MR. ISSA AND MR. ELLISON AND CO-SPONSORED BY MYSELF THAT WOULD ADDRESS THAT MATTER TO ENCOURAGE TRANSPARENCY AND FINANCIAL MARKETS BECAUSE FINANCIAL MARKETS ARE PREDICATED ON AS CLOSE TO PERFECT INFORMATION AS WE CAN ACHIEVE AND STEP TOWARDS PERFECT INFORMATION AND ENHANCE THE EFFICIENCY OF MARKETS, STEPS AWAY FROM PERFECT INFORMATION AND THE SECOND BILL, H.R. 766 UNFORTUNATELY IS A PIECE OF LEGISLATION THAT ADDRESSES A REAL NEED, BUT I CAN'T SUPPORT. AGAIN, I WOULD BE PROUD TO VOTE FOR THE RULE IF IT INCLUDED A SIMPLE AMENDMENT, BUT UNFORTUNATELY, THE PROCESS THROUGH THE RULES COMMITTEE SHUT THAT DOWN. H.R. 766 TAKES A LOOK AT A CRITICAL LEGITIMATE ISSUE. THE ISSUE OF THE JUSTICE DEPARTMENT IN OPERATION CHOKEPPOINT. WHAT IT DOES, IT GOES TOO FAR IN LIMITING THE TOOLS OF D.O.J. TO COMBAT PONZI SCHEMES, BANKING FRAUD IN SITUATIONS WHERE THE BANK THEMSELVES ARE COMPLICIT IN COMMITTING THE ALLEGED FRAUD. IT ALSO FAILS TO DELIVER ON WHAT MR. STIVERS INDICATED TO ALLOW BUSINESSES TO ACCESS THE BANKING SYSTEM. IT FAILS TO DELIVER ON THAT BECAUSE WHILE THERE WERE NINE AMENDMENTS THAT WERE MADE IN ORDER, A CRITICAL AMENDMENT OFFERED BY MY COLLEAGUE, MR. PERLMUTTER OF COLORADO AND MR. HECK OF WASHINGTON STATE, WAS NOT ALLOWED, AN AMENDMENT THAT WOULD HAVE FURTHERED THE GOAL OF THIS BILL TO ALLOW LEGAL OPERATING BUSINESSES TO ACCESS BANKING SERVICES. IT WAS A GERMANE AMENDMENT AND NO POINTS OF ORDER. MEMBERS OF THIS BODY HAVE SUPPORTED THIS AMENDMENT IN FULL OR IN PART ON EARLIER TIMES. A MAJORITY OF THIS BODY SUPPORTS A REAL WORLD SOLUTION TO A REAL WORLD PROBLEM, NOT JUST WHAT WE FACE HERE IN COLORADO BUT MANY STATES FACE. THE FACT THAT LEGAL, LEGITIMATE MARIJUANA-RELATED BUSINESSES CANNOT INTERACT WITH LEGITIMATE BANKING INSTITUTIONS IS AN ENORMOUS PROBLEM FOR ECONOMIC GROWTH AND SECURITY RISK AND PROBLEM FOR LAW ENFORCEMENT THAT WE HEAR FROM POLICE AND IT'S A PROBLEM FOR THE SAFETY OF OUR COMMUNITIES. IT'S NOT ACCEPTABLE TO MEET THE STANDARD OF AN OPEN AND TRANSPARENT PROCESS, THAT THE SPEAKER HAS PROMISED, TO ELIMINATE EVEN FROM CONSIDERATION AND A VOTE THIS VERY IMPORTANT AMENDMENT THAT ADDRESSES THE ACCESSIBILITY OF BANKING SERVICES TO COMPANIES THAT ARE ENGAGED IN A LEGAL STATE BUSINESS. FOR 23 STATES AND THE DISTRICT OF COLUMBIA, IT IS AN ENORMOUS PROBLEM RIGHT NOW. AND TO BE CLEAR WHAT WE ARE TALKING ABOUT IS NOT JUST PEOPLE WHO RUN MEDICAL MARIJUANA DISPENSARIES, BUT HIGHLY REGULATED GROWING OPERATIONS AND FARMERS PRODUCING INDUSTRIAL HEMP ARE TURNED AWAY FROM BANKING ACCOUNTS, CANNOT HAVE CREDIT CARDS AND HAVE TO HAUL AROUND LARGE AMOUNTS OF CASH TO PAY EMPLOYEES PLACING THEMSELVES AND EMPLOYEES OF RISK OF ASSAULT AND ROBBERY AND DETRACTING FROM THE LAW ENFORCEMENT ABILITY TO CHASE TRANSACTIONS THAT OUR LAW ENFORCEMENT OFFICIALS ARE ASKING FOR. DUE TO CONGRESS' INACTION, HUNDREDS OF BUSINESSES IN COLORADO AND 22 OTHER STATES ARE FORCED TO OPERATE ON A DANGEROUS UNTRACKABLE CASH-ONLY SYSTEM THAT RAISES PUBLIC SAFETY CONCERNS, INCREASES TAX FRAUD AND ENORMOUS BURDEN ON OUR ECONOMY. THOSE ARE FACTS THAT ARE NOT IN DISPUTE. I KNOW THERE ARE MANY MEMBERS ON BOTH SIDES OF THE DEBATE ABOUT HOW WE SHOULD TREAT HEMP AND MARIJUANA, THAT'S NOT THE ISSUE. THE ISSUE IS THAT 22 STATES AND THE DISTRICT OF COLUMBIA HAVE CHOSEN TO LEGALIZE IT UNDER STATE LAW. IT IS ILLEGAL UNDER FEDERAL LAW. WE ARE NOT DEBATING THAT EITHER. THAT IS FINE. THAT'S NOT EVEN WHAT WE ARE TALKING ABOUT HERE. WHAT WE ARE TALKING ABOUT IN THE STATES THAT IT'S LEGAL, IT'S ABSOLUTELY CRITICAL FROM EVEN A LAW ENFORCEMENT PERSPECTIVE, EVEN IF YOU WANT IT TO CONTINUITY TO BE ILLEGAL THAT IT SHOULD GO THROUGH OUR BANKING SYSTEM IN A TRACKABLE WAY. MY GOOD FRIEND FROM OHIO KNOWS ABOUT THESE ISSUES. AND I'M CONFIDENT THAT MANY PEOPLE IN OHIO HAD CONVERSATIONS WITH LAW ENFORCEMENT WALKING THROUGH OFFICIALS ON THE ISSUE OF MAKING THIS A CASH-BASED BUSINESS. THAT WAS A SIGNIFICANT ISSUE IN THE OHIO ELECTIONS. THE ISSUES OF TAXATION AND RECORDKEEPING ARE CRITICAL. THAT POINTS TO THE NECESSITY OF THIS LEGISLATION. MR. PERLMUTTER'S AMENDMENT WOULD LIKELY HAVE PASSED THIS BODY WITH REPUBLICAN AND DEMOCRATIC SUPPORT. IT WOULD HAVE WON A MAJORITY OF BIPARTISAN SUPPORT THIS WEEK. IT'S NOT THE JOB OF THE RULES COMMITTEE TO PICK WINNERS AND LOSERS. AND IF IT IS OBJECTIONABLE FOR THE RULES COMMITTEE TO ABUSE ITS POWER TO KILL A MEASURE THAT HAS DEMONSTRATED A BIPARTISAN LEVEL OF SUPPORT, THAT'S NOT AN APPROPRIATE USE OF THE DISCRETION OF OUR COMMITTEE OR OUR CHAIR TO HAVE THEIR PERSONAL OPINIONS GUIDE WHAT AMENDMENTS ARE FORWARDED TO THIS BODY FOR FULL CONSIDERATION. WHAT ELSE CAN AMENDMENTS DO? WE WRITE THOUGHTFUL AMENDMENTS THAT SOLVE REAL WORLD PROBLEMS IN OUR STATE REGARDLESS OF SUPPORT. TALKING TO REPUBLICANS AND DEMOCRATS. THEN WHAT? IT JUST DICE BECAUSE WE CAN'T GET IT TO A FLOOR VOTE? HOW IS THAT AN OPEN AND TRANSPARENT PROCESS? IT'S NOT. MR. PERLMUTTER AND MR. HECK ARE FIGHTERS. WE WILL WIN THIS DEBATE EVENTUALLY. THIS IS SIMPLY A SPEED BUMP IN MAKING SURE THAT WE ADDRESS THIS ISSUE FOR WHICH THERE ARE NO LEGITIMATE ARGUMENTS ON THE OTHER SIDE REGARDLESS OF WHERE ONE STANDS ON THE LEGAL TREATMENT OR REGULATION OF SUBSTANCES THAT ARE CURRENTLY CLASSIFIED. BUT, YOU KNOW WHAT? WE SHOULD HAVE WON THIS WEEK WITH THIS DEBATE. THIS BIPARTISAN WORK SHOULD BE REWARDED IN THIS BODY AND THE 2 STATES AND THE DISTRICT OF COLUMBIA DESERVE BETTER. THIS AMENDMENT HAD NO DRAFTING ERROR. THERE WAS NO POLITICAL GIMMICK TO IT. IT DIDN'T REWRITE THE UNDERLYING BILL. IT ISN'T EVEN CONTROVERSIAL AND I DON'T UNDERSTAND WHY IT DIDN'T DESERVE CONSIDERATION BY THIS BODY. NOT EVEN A 10-MINUTE DEBATE, A ONE-MINUTE ADEBATE, ALLOW AT LEAST A ONE-MINUTE DEBATE ON THIS AMENDMENT. I'LL YIELD FOR A YES OR NO. . THE GENTLEMAN FROM OHIO SAID HE WANTED EQUALLY OPERATING STATE BUSINESSES TO HAVE ACCESS THE BANKING SERVICES, WHICH IS THE VERY PURPOSE OF THIS BILL. IT'S A GREAT SHAME WE CANNOT FIX THIS ISSUE NOW BECAUSE, YOU KNOW WHAT, OTHERWISE I GIVE CREDIT TO THE GENTLEMAN FROM OHIO AND MY COLLEAGUES ON THE RULES COMMITTEE FOR ALLOWING NINE OF 10 AMENDMENTS TO BE CONSIDERED ON THE HOUSE FLOOR UNDER THESE TWO BILLS. THIS IS THE RULE THAT I AM COMING CLOSEST TO SUPPORTING OF ANY RULE THAT WE'VE DEBATED THUS FAR IN THE 114TH CONGRESS HERE ON THE FLOOR. BUT BECAUSE OF THIS ONE GLARING DEFICIENCY WHICH PREVENTS THROUGH AN OPEN AND TRANSPARENT PROCESS A REAL-WORLD PROBLEM THAT DEMOCRATS AND REPUBLICANS AGREE NEED TO BE SOLVED FROM BEING ADDRESSED IN THE APPROPRIATE BILL, IN AN APPROPRIATE WAY, I CANNOT RECOMMEND TO MY COLLEAGUES THAT THEY SUPPORT THIS RULE. I RESERVE THE BALANCE OF MY TIME.

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  • 01:01:47 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM OHIO.

  • 01:01:51 PM

    THE GENTLEMAN DID CHANGE SOME OF MY WORDS. THESE ARE LEGALLY OPERATING…

    THE GENTLEMAN DID CHANGE SOME OF MY WORDS. THESE ARE LEGALLY OPERATING BUSINESSES. BY THE GENTLEMAN FROM COLORADO'S OWN ADMISSION, THESE ARE NOT FEDERALLY LEGAL BUSINESSES. THEY'RE ILLEGAL UNDER FEDERAL LAW. MARIJUANA IS ILLEGAL IN U.S. CODE 21 SECTION 812. THE GENTLEMAN KNOWS THAT. MAYBE WE SHOULD DEBATE WHETHER MARIJUANA SHOULD BE LEGAL UNDER FEDERAL LAW. IF HE WANTS TO DEBATE THAT, THAT'S OK. BUT THIS IS A RECOGNITION FOR BANKING SERVICES OF BUSINESSES THAT ARE OPERATING LAWFULLY UNDER BOTH FEDERAL AND STATE LAW. NOT AMBIGUOUS BUSINESSES THAT ARE LEGAL UNDER STATE LAW BUT ILLEGAL UNDER FEDERAL LAW. AT THE MOST THESE BUSINESSES ARE AMBIGUOUS BUT CLEARLY THEY'RE ILLEGAL UNDER FEDERAL LAW. I DIDN'T SAY BUSINESSES THAT ARE OPERATING LILEY UNDER STATE LAW IN MY COMMENTS -- LEGALLY UNDER STATE LAW IN MY COMMENTS. THAT MEANS FEDERAL AND STATE LAW, WE LIVE IN A FEDERAL REPUBLIC WITH A STATE AND A FEDERAL GOVERNMENT. IF SOMETHING'S ILLEGAL UNDER FEDERAL LAW, UNDER U.S. CODE 21 SECTION 812, IT'S ILLEGAL. THOSE BUSINESSES ARE NOT LEGALLY OPERATING BUSINESSES. THAT IS THE DISTINCTION. THAT'S WHY THE GENTLEMAN BY MR. PERLMUTTER AND MR. HECK WASN'T ALLOWED BECAUSE THESE BUSINESSES, DRUG-RELATED BUSINESSES ARE ILLEGAL UNDER FEDERAL CODE. THAT IS THE REASON WE'RE NOT DEBATING THAT AMENDMENT HERE, AND I WOULD SAY TO THE GENTLEMAN'S POINT EARLIER WHERE HE WANTED A MINUTE OF DEBATE, I THINK HE'S GOTTEN MORE THAN A MINUTE ON BOTH SIDES ON THIS. SO HE'S DONE PRETTY WELL. I'D NOW LIKE TO RECOGNIZE AND YIELD FOUR MINUTES TO THE GENTLEMAN FROM GEORGIA, FELLOW FROM THE RULES COMMITTEE, DOUG COLLINS.

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  • 01:03:33 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM GEORGIA IS RECOGNIZED FOR FOUR MINUTES.

  • 01:03:36 PM

    THANK YOU. I APPRECIATE MY FRIEND FROM OHIO FOR THIS TIME TODAY. MR.…

    THANK YOU. I APPRECIATE MY FRIEND FROM OHIO FOR THIS TIME TODAY. MR. SPEAKER, I RISE IN SUPPORT OF THE HOUSE RESOLUTION 595, PROVIDING FOR CONSIDERATION OF H.R. 766, THE FINANCIAL INSTITUTION CUSTOMER PROTECTION ACT, AND H.R. 1625, THE ENCOURAGING EMPLOYEE OWNERSHIP ACT OF 2015. I STRONGLY SUPPORT THIS RULE AND THE UNDERLYING MEASURES. H.R. 766 IS A VITALLY IMPORTANT PONS TO THE ADMINISTRATION'S OVERREACH TO OPERATION CHOKE POINT. IT'S ANOTHER EXAMPLE OF THE ADMINISTRATION CIRCUMVENTING CONGRESS. IT IS A DISTURBING ABUSE OF AUTHORITY TO ACHIEVE RESULTS THAT THE GENTLEMAN FROM GEORGIA SAY THEY WILL NOT STAND FOR. THE JUSTICE DEPARTMENT AND FEDERALLY -- FEDERAL FINANCIAL REGULATORS HAVE COERCED BANKS IN CUTTING OFF RELATIONS WITH LEGAL BUSINESSES SIMPLY BECAUSE THE ADMINISTRATION DOESN'T LIKE THEM. THE ADMINISTRATION HAS PAINTED A TARGET ON CERTAIN INDUSTRIES, PAYMENT PROCESSORS TO GUN AND AMMUNITION STORES TO OTHER SMALL BUSINESSES. AGAIN, IT IS THE ADMINISTRATION WHO HAS DECIDED UNDER THE GUISE OF CUSTOMER PROTECTION TO TARGET ENTIRE INDUSTRIES SIMPLY BECAUSE THEY DEEM THEM OFFENSIVE. THIS IS NOT THE WAY THE GOVERNMENT IS SUPPOSED TO OPERATE. IT IS NOT -- IT IS TIME WE PREVENT IT FROM HAPPENING. I'VE HAD THE OPPORTUNITY TO MEET WITH SOME OF THE HARDWORKING INDIVIDUALS IN THE INDUSTRIES AFFECTED, AND IT IS CLEAR THAT ACTION IS NEEDED. A FEW WEEKS AGO I MET PEOPLE WITH THE ELECTRONIC PAYMENTS INDUSTRY. IT PROMOTES INNOVATION AND IS RAPIDLY GROWING AND PLAYS AN IMPORTANT ROLE IN GEORGIA'S ECONOMY. THE ELECTRONIC CONSUMER SPENDING IS PROJECTED TO EXCEED $7.3 TRILLION IN 2017. YET, THE ADMINISTRATION HAS BEEN INCREASINGLY EXERTING PRESSURE ON THIS INDUSTRY. THEY'VE INCREASINGLY TRIED TO MAKE THE PAYMENT INDUSTRY RESPONSIBLE IN PART FORT MISDEEDS OF BAD ACTORS IN OTHER SEGMENTS OF THE INDUSTRY. POSSIBLY, AND EVEN MORE DISTURBING, BY FORCING PAYMENT PROCESSORS AND BANKS TO ASSUMING THE ROLE OF REGULATORS AND POLICING STRIT FOR BAD ACTORS, KNOWN OR EVEN KNOWN, THE ADMINISTRATION IS PROMOTING DISCRIMINATION OF LEGAL BUSINESS IFS THEY BELONG TO A CERTAIN INDUSTRY THAT IS SUPPORTED BIT WHITE HOUSE'S POLITICAL AGENDA. WHAT'S HAPPENED TO FAIRNESS UNDER THE LAW? IT'S AMAZING TO ME. THE ADMINISTRATION IS CHOKING LEGITIMATE BUSINESSES ALL FROM NEEDED CAPITAL AND OTHER RESOURCES BY PAINTING THEM WITH A SCARLETT LETTER AND THEY'RE BURDENING THE PAYMENTS INDUSTRY BY TRYING TO USE IT AS A MEANS TO CARRY OUT THEIR OWN DIRTY WORK. ANOTHER TARGET IS THE GUN INDUSTRY. WE HAVE A CONSTITUTIONAL RIGHT TO BEAR ARMS UNDER THE SECOND AMENDMENT AND JUST THIS WEEK I HAD THE PRIVILEGE TO GO TO HONOR DEFENSE A GUN MANUFACTURER LOCATED IN MY HOMETOWN OF GAINESVILLE, GEORGIA. I TOURED THE FACILITY AND ASSEMBLED ACTUALLY ONE OF THEIR FINE FIREARMS. THESE ARE HARDWORKING AMERICAN OPERATING BUSINESS -- BUSINESSES OPERATING LEGAL BUSINESSES. THE ADMINISTRATION DOESN'T LIKE THIS INDUSTRY, THOUGH, SO THEY HAVE PAINTED A TARGET ON THEIR BACK. THIS IS NOT RIGHT. WE SHOULD BE ENCOURAGING BUSINESS GONE OWENERS TO GROW THEIR BUSINESS AND CELEBRATE THEIR SUCCESS, NOT FORCE THEM OUT OF BUSINESS. STORY OF INDUSTRIES AND LEGITIMATE SMALL BUSINESSES THAT HAVE BEEN TARGETED ARE WIDESPREAD AND IT'S TIME FOR THIS TO STOFMENT THE GOVERNMENT HAS A LEGITIMATE ROLE IN PROTECTING CONSUMERS AND PREVENTING FRAUD, BUT THAT NECESSARY ROLE SHOULD NOT BE ABUSED TO ACHIEVE POLITICAL GOALS. FINANCIAL REGULATORS SHOULD NOT BE ABLE TO TARGET LEGAL BUSINESSES BY CHOKING OFF THEIR LINES OF CREDIT AND FORCING THEM OUT OF BUSINESS. MR. SPEAKER, OPERATION CHOKE POINT IS MISGUIDED AND POLITICALLY MOTIVATED AND IT'S TIME WE REIN IT IN TO PROTECT SMALL BUSINESSES AND LEGITIMATE ENTERPRISES OF HART WORKING AMERICANS. WITH THAT I ASK MY COLLEAGUES TO SUPPORT THE RULE AND THE UNDERLYING LEGISLATION AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 01:07:16 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM COLORADO.

  • 01:07:18 PM

    MR. POLIS

    IF WE DEFEAT THE PREVIOUS QUESTION I'LL BRING UP A BILL BY PROMOTING…

    IF WE DEFEAT THE PREVIOUS QUESTION I'LL BRING UP A BILL BY PROMOTING RESEARCH INTO THE CAUSES OF GUN VIOLENCE AND MAKING IT EASIER TO IDENTIFY AND TREAT THOSE PRONE TO COMMITTING VIOLENCE ACTS. MR. SPEAKER, I ASK UNANIMOUS CONSENT TO INSERT THE TEXT OF THE AMENDMENT IN THE RECORD ALONG WITH EXTRANEOUS MATERIAL IMMEDIATELY PRIOR TO THE VOTE ON THE PREVIOUS QUESTION.

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  • 01:07:37 PM

    RE WITHOUT

    WITHOUT OBJECTION.

  • 01:07:38 PM

    MR. POLIS

    AND TO FURTHER DISCUSS OUR PROPOSAL, I YIELD FOUR MINUTES TO THE…

    AND TO FURTHER DISCUSS OUR PROPOSAL, I YIELD FOUR MINUTES TO THE DISTINGUISHED GENTLEMAN FROM CALIFORNIA, MR. HONDA.

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  • 01:07:44 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN IS RECOGNIZED FOR FOUR MINUTES.

  • 01:07:46 PM

    I THANK MY COLLEAGUE AND, MR. SPEAKER, I RISE IN OPPOSITION TO THE…

    I THANK MY COLLEAGUE AND, MR. SPEAKER, I RISE IN OPPOSITION TO THE PREVIOUS QUESTION. IF WE DEFEAT THE PREVIOUS QUESTION, MR. POLIS WILL BE ABLE TO OFFER AN AMENDMENT TO THE RULE TO BRING MY GUN VIOLENCE RESEARCH ACT TO THE FLOOR FOR AN IMMEDIATE VOTE. MY GUN VIOLENCE RESEARCH ACT WILL LIFT THE OVER 19-YEAR-OLD BAN ON THE CENTERS FOR DISEASE CONTROL AND PREVENTION WITH RESPECT TO OBJECTIVELY STUDYING THE HEALTH ASPECTS OF GUN VIOLENCE. FORMER REPUBLICAN CONGRESSMAN FROM ARKANSAS, THE HONORABLE JAY DICKEY WHO WAS THE AUTHOR OF THE C.D.C. BAN, HAS GONE ON RECORD REGRETTING HIS DECISION, EXPRESSING THAT THE PROHIBITION WAS ROOTED IN PARTISAN POLITICS, NOT SOUND PUBLIC POLICY. WITH WELL OVER 32,000 AMERICANS KILLED BY GUNSHOTS PER YEAR, ROUGHLY 88 AMERICANS ARE KILLED EVERY DAY, EVERY DAY. GUN VIOLENCE IS UNDOUBTEDLY A PUBLIC HEALTH CRISIS THAT NECESSITATES ATTENTION. I REPRESENT SILICON VALLEY, AND I HAVE SEEN FIRSTHAND THE ROLE AND VALUE OF OBJECTIVE RESEARCH PLAY IN EXPANDED KNOWLEDGE AND INFORMED DECISIONMAKING. RESEARCH ON GUN VIOLENCE SHOULD NOT BE CONTROVERSIAL OR PARTISAN. IT IS A COMMONSENSE TOOL TO HELP US UNDERSTAND WHY TENS OF THOUSANDS OF OUR FELLOW CITIZENS ARE BEING KILLED EVERY YEAR BY GUNSHOTS. WITHOUT BEING ABLE TO ADEQUATELY UNDERSTAND WHY THE PROBLEM IS OCCURRING, WE ARE UNABLE TO EFFECTIVELY TACKLE OUR NATION'S GUN VIOLENCE EPIDEMIC AND PROTECT THE AMERICAN PEOPLE WHO WE REPRESENT. THIS IS WHY I URGE MY REPUBLICAN COLLEAGUES TO ALLOW A VOTE ON THIS CRITICAL LEGISLATION AND LIFT THE BAN ON DESPERATELY NEEDED GUN VIOLENCE RESEARCH. WHEN WE UNDERSTAND THE PROBLEM, WE CAN MAKE INFORMED PUBLIC POLICY DECISIONS TO KEEP AMERICANS SAFE AND WITHOUT ERODING THE SECOND AMENDMENT AND DEMONIZING THE MILLIONS OF LAW-ABIDING GUN OWNERS. I URGE A NO VOTE ON THE PREVIOUS QUESTION.

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  • 01:09:58 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM OHIO.

  • 01:10:03 PM

    MR. STIVERS

    THANK YOU, MR. SPEAKER. I NOW YIELD FOUR MINUTES TO THE DISTINGUISHED…

    THANK YOU, MR. SPEAKER. I NOW YIELD FOUR MINUTES TO THE DISTINGUISHED GENTLEMAN FROM CALIFORNIA, WHO'S A MEMBER OF THE FOREIGN AFFAIRS AND SCIENCE COMMITTEES,

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  • 01:10:13 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED FOR FOUR MINUTES. ROHRABACHER…

    THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED FOR FOUR MINUTES. ROHRABACHER MR. SPEAKER, I RISE IN --

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  • 01:10:18 PM

    MR. SPEAKER, I RISE IN SUPPORT OF THE RULE AND A BILL THAT LESSENS MANY OF…

    MR. SPEAKER, I RISE IN SUPPORT OF THE RULE AND A BILL THAT LESSENS MANY OF THE REGULATORY BURDENS THAT EMPLOYERS CURRENTLY EXPERIENCE. IN PARTICULAR OF INTEREST TO ME AND OF INTEREST TO WORKING MEN AND WOMEN THROUGHOUT AMERICA IS TITLE 1 OF THE BILL ENTITLED "ENCOURAGING EMPLOYEE OWNERSHIP ACT OF 2015." THIS TITLE WOULD MAKE IT EASIER FOR PRIVATE EMPLOYERS TO GRANT THEIR EMPLOYEES WITH GREATER OWNERSHIP STAKE IN THEIR OWN COMPANIES WITHOUT HAVING TO DISCLOSE CERTAIN SENSITIVE INFORMATION. THE CONSIDERATION OF THIS BILL IS BUT THE LATEST IN A LONG HISTORY OF ACTIONS TAKEN BY THE FEDERAL GOVERNMENT TO PROMOTE AN OWNERSHIP SOCIETY. PRESIDENT JEFFERSON RECOGNIZED OWNERSHIP OF PRIVATE PROPERTY AS A KEYSTONE OF A FREE SOCIETY. PRESIDENT LINCOLN PUSHED FOR AND CONGRESS DELIVERED THE HOMESTEAD ACT OF 1862, WHICH HAS PROVEN TO BE ONE OF THE MOST IMPORTANT MANIFESTATIONS OF JEFFERSON'S VISION OF A BROAD-BASED OWNERSHIP PROPERTY SOCIETY. MORE RECENTLY, PRESIDENT REAGAN, SUPPORTING EMPLOYEE OWNERSHIP, LABELED IT THE NEXT LOGICAL STEP, A PATH THAT BENEFITS A FREE PEOPLE, END OF QUOTE. IN THE NEAR FUTURE, I WILL BE -- I WILL REINTRODUCE LEGISLATION THAT INCENTIVIZES EMPLOYEE OWNERSHIP EVEN FURTHER THAN WE CURRENTLY HAVE IT BY TREATING AS TAX-FREE ANY BROAD-BASED DISTRIBUTION OF EMPLOYER STOCK THAT IS HELD BY THE EMPLOYEES FOR A CERTAIN PERIOD OF TIME. YES, IT WOULD BE ESOPS ON STEROIDS. WE WOULD DRAMATICALLY INCREASE THE AMOUNT OF EMPLOYEE OWNERSHIP IN OUR COUNTRY AND ALL THE BENEFITS THAT WOULD GO WITH THAT. I'D ASK MY COLLEAGUES TO CONSIDER THIS BILL, AND IT WILL BE PROPOSED PROBABLY NEXT WEEK. MY PROPOSAL IS SIMPLY TO UNDERSTAND. NO TEAM OF LAWYERS OR ACCOUNTANTS WOULD BE NEEDED TO BE HIRED IN ORDER FOR AN EMPLOYER TO PARTICIPATE IN THIS EXPANSION OF EMPLOYEE OWNERSHIP OF HIS OR HER COMPANY. AS SUCH, IT HAS GREAT POTENTIAL TO GIVE A SHOT IN THE ARM TO MANY SMALL UPSTART COMPANIES THAT DO NOT HAVE SIGNIFICANT SUMS OF CASH TO OFFER EMPLOYEES OR ATTRACT VERY PEOPLE WHO HAVE THE SKILLS NECESSARY FOR THEIR NEW COMPANIES TO SUCCEED. BUT INSTEAD HAVE AN IDEA THAT IF AN EMPLOYEE WAS WILLING TO WORK HARD AND MAKE A COMPANY GROW AND PROSPER AND SUCCEED THAT THAT COMPANY'S BENEFITS WOULD BE SHARED WITH THE EMPLOYEE. I URGE MY COLLEAGUES TO CONSIDER JOINING ME AND SUPPORT THE WORKING PEOPLE OF THIS COUNTRY BY GIVING THEM THE OPPORTUNITY TO ACHIEVE THE AMERICAN DREAM AND MAKE EMPLOYEES PARTNERS INSTEAD OF ADVERSARIES TO MANAGEMENT, AND ONE OF THE THINGS IN THIS BILL THAT WE'RE TALKING TODAY IS TAKING A STEP FORWARD TO EMPLOYEE OWNERSHIP. I CERTAINLY SUPPORT THAT. THE LEGISLATION I WILL PROPOSE TAKES ANOTHER STEP. I WOULD LIKE TO CONGRATULATE MY FRIENDS WHO HAVE BEEN INVOLVED WITH THIS BILL TODAY, AND I ASK MY COLLEAGUES TO SUPPORT THE RULE AND THE UNDERLYING BILL AND THUS I YIELD BACK THE BALANCE OF MY TIME.

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  • 01:13:46 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE GENTLEMAN FROM COLORADO.

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  • 01:13:50 PM

    I THANK THE GENTLEMAN FROM CALIFORNIA, AND WE'LL LOOK FORWARD TO…

    I THANK THE GENTLEMAN FROM CALIFORNIA, AND WE'LL LOOK FORWARD TO DISCUSSING WITH YOU YOUR BILL NEXT WEEK AND SEEING WHETHER IT'S SOMETHING THAT I CAN SUPPORT. I STRONGLY BELIEVE THAT ENCOURAGING EMPLOYEE OWNERSHIP THROUGH ESOPS OPTIONS, THIS BILL DOES A PART, WE CAN DO A LOT MORE, IS A BIG THING WE CAN DO TO ADDRESS THE INCREASING INCOME DISPARITY THIS COUNTRY HAS IN MAKING SURE THAT WORKERS CAN PARTICIPATE IN CAPITAL FORMATION AND CAPITAL GROWTH ALONG WITH OWNERS AND EXECUTIVES. SO WE LOOK FORWARD TO WORKING WITH YOU ON THAT BILL AND CONTACTING THE GENTLEMAN AS WELL. YOU KNOW, LOOK, THE GENTLEMAN FROM OHIO SAID THAT SOMEHOW WITH LEGAL OPERATING BUSINESSES MUST HAVE ACCESS TO BANKING RESOURCES, THE GOAL OF THIS BILL, HE SAID, OH, WAIT A MINUTE. I MEAN FEDERAL ONES, NOT STATE ONES. NOT FEDERAL, NOT STATE. I MEAN, THIS IS WHERE YOU HAVE A DIFFERENCE, AND OF COURSE YOU WON'T HAVE ANY DISAGREEMENT THERE IS AN AMBIGUITY HERE TO TYPES OF BUSINESSES THAT ARE LEGAL AT THE STATE LEVEL AND ARE NOT LEGAL FEDERALLY. BUT THIS IS WHERE YOU WILL FIND MOST DEMOCRATS BELIEVE VERY STRONGLY IN STATES' RIGHTS. MOST REPUBLICANS BELIEVE HERE, WITH THE EXCEPTION OF THE OTHER GENTLEMAN FROM CALIFORNIA THAT JUST SPOKE, BUT APPARENTLY THE GENTLEMAN FROM OHIO BELIEVES AN OVERARCHING FEDERAL DEFINITION TELLING STATES WHAT THEY CAN AND CANNOT DO INDIRECTLY THROUGH THE BANKING SYSTEM. EFFECTIVELY CONSTRAINING THEIR ABILITY TO ALLOW BANKS TO SERVE BUSINESSES THAT MIGHT SELL TYPES OF FIREARMS THAT ARE ILLEGAL FEDERALLY OR TYPES OF MARIJUANA OR HEMP OR OTHER PRODUCTS THAT MIGHT BE ILLEGAL FEDERALLY, EFFECTIVELY THEY'RE ARGUING THE FEDERAL GOVERNMENT SHOULD TELL THEM WHAT TO DO AND IMPOSE A ONE-SIZE-FITS-ALL SOLUTION ON STATES THAT ARE AS DIVERSE AS TEXAS AND CALIFORNIA AND COLORADO AND NORTH DAKOTA. WELL, I DISAGREE WITH THAT PREMISE AS DO MOST OF THE DEMOCRATS HERE TODAY, AND WE FEEL THAT WHILE THIS BODY, OF COURSE -- AND I AGREE WITH THE GENTLEMAN -- SHOULD CONTINUE WITH THE DISCUSSION ABOUT THE REGULATORY STRUCTURE OF LEGAL TREATMENT OF CANNABIS PRODUCTS FEDERALLY, THAT SHOULD IN NO WAY, SHAPE OR FORM STAND IN THE WAY OF A SIMPLE FIX THAT SAYS WHETHER YOU WANT IT TO BE LEGAL OR ILLEGAL, TRANSACTIONS SHOULD BE TRACEABLE, SAFE THROUGH THE BANKING SYSTEM FOR BUSINESSES THAT ARE LEGAL AT THE STATE LEVEL. . ALSO NAMED THE CAPITAL MARKETS IMPROVEMENT ACT AND CAN BE MADE BETTER. TITLE 1 WHICH WILL REVISE SECTION 701 BY RAISING THE THRESHOLD ON WHICH COMPANIES CAN ISSUE STOCKS WITHOUT RUNNING INTO GOVERNMENT RED TAPE IS A GOOD PIECE OF LEGISLATION AND I HOPE MY COLLEAGUES AGREE WITH. I'M AN EARLY CO-SPONSOR OF THIS LEGISLATION AND SHOULD APPLAUD THE INDEXATION AND ALLOWING EMPLOYEES TO HAVE A STAKE IN THEIR COMPANIES. THAT'S NOT THE ONLY SOLUTION. THE GENTLEMAN FROM CALIFORNIA MIGHT HAVE SOME OTHER IDEAS, BUT IF YOU WANT TO HELP SOLVE SOME OF OUR ISSUES LIKE WEALTH INEQUALITY WE SHOULD PROMOTE STOCK OWNERSHIP. IF YOU ISSUE STOCK ADDRESSED IN THIS BILL OR ESOP OR ANY OF THE OTHER FORMS THAT ALLOW WORKERS TO BENEFIT, WE SHOULD CONTINUE TO FIND WAYS TO WORK TOGETHER TO PROMOTE AND ENCOURAGE THIS STYLE OF CORPORATE GOVERNANCE. TITLE 2 IS A SAFE HARBOR FOR INVESTMENT RESEARCH, A BILL THAT WILL IMPROVE MARKET EVALUATION FOR INVESTORS AND HAS BROAD BIPARTISAN SUPPORT. AND I KNOW MY COLLEAGUE, MR. CARNEY OF DELAWARE, WILL BE PLEASED TO SEE THIS PASS. MY COLLEAGUE FROM OHIO OF THE MIDDLE MARKET GROWTH CAUCUS SPOKE ABOUT HOW THIS OVERALL PACKAGE OF LEGISLATION WILL GROW COMPANIES IN THE ALL IMPORTANT MIDDLE MARKET. THIS IS MAIN STREET AMERICA. THESE ARE COMPANIES THAT MIGHT NOT BE BIG ENOUGH TO BE MULTINATIONAL BRAND NAMES OR SMALL OR STARTUP COMPANIES BUT THE PORTION OF THE MARKET THAT'S A VITAL PIECE OF OUR ECONOMIC ENGINE CREATING JOB JOBS ON MAIN STREET. TITLE 3 WILL WORK TO REDUCE RED TAPE FOR THESE MIDDLE MARKET COMPANIES AND THIS HAS STRONG BROAD BIPARTISAN. THE S.E.C. HAS AGREED. THE ONLY ARGUMENT AGAINST IT IS THAT WE ALREADY DO THIS AND THAT'S A WEAK ARGUMENT BECAUSE WE OUGHT TO PUT IT IN STATUTE. THE S.E.C. HAS AGREED AND HAS TAKEN ACTION BUT HAS ADDED INCREASED INVESTOR IMPEDIMENTS AND I HOPE THEY CAN WORK WITH CONGRESS, BUT THE BILL IS NECESSARY AND BETTER TO FIX THINGS IN STATUTE AND I THINK WE CAN WORK TOGETHER TO REDUCE RED TAPE TO GROW SMALL AND MIDDLE-SIZED BUSINESSES. TITLE 5 IS VITAL AND IN LINE WITH THE REGULATORY REVIEW THAT WE ARE ASKING OF AGENCIES AND GOOD GOVERNMENT LEGISLATION. I THINK BOTH SIDES OF THE AISLE CAN FIND AGREEMENT ON AND HOPEFULLY SUPPORT. NOW TITLE 4 OF H.R. 1675 IS A BIT OF A STEP IN THE WRONG DIRECTION AND SOMETHING WE DISCUSSED EXTENSIVELY IN THE COMMITTEE YESTERDAY. FORTUNATELY FOR THIS PROVISION, THERE WAS AN OPEN PROCESS. MR. ISSA AND MR. ELLISON HAVE AMENDMENTS THAT WILL IMPROVE THE PORTION OF THE BILL OR REMOVE IT ENTIRELY. UNFORTUNATELY THE WAY THE BILL IS WRITTEN IS A MOVE AWAY FROM SEARCHABLE REPORTING THAT CAN BE DONE DIGITIALLY. IT'S A RETURN TO THE PEN AND PAPER AND INEFFICIENT WORLD OF THE 20TH CENTURY RATHER THAN A STEP FORWARD TO THE OPEN DATA TRANSPARENCY WORLD OF THE 21ST CENTURY. ACROSS THE BOARD, MARKET PARTICIPANTS, INVESTORS, REGULATORS WANT INFORMATION THAT IS ALREADY REQUIRED. WE AREN'T TALKING ABOUT -- INFORMATION THAT IS REQUIRED TO BE AVAILABLE IN A DIGITAL, SEARCHABLE FORMAT. IT'S AN OUTDATED USE OF RESOURCES TO DEAL WITH THIS INFORMATION BY HAND, BY PEN, BY PAPER AND PUTS OTHERS AT AN ENORMOUS DISADVANTAGE AND REDUCES THE ATLANTA OF INFORMATION IN THE MARKETPLACE. DATA CAN BE USED TO TRACK TRENDS AND FIND INVESTMENT OPPORTUNITIES AND HELP REGULATORS NOTICE TROUBLE SPOTS IN MARKETS AND CATCH THE NEXT ENRON BEFORE IT EX PLODSE. THEY NEED INFORMATION WHO WANT TO TAKE THIS PACKAGE AND IN EXCITING WAYS AND SELL IT ON TO INDIVIDUAL INVESTORS. WE HEARD YESTERDAY THAT SAID INVESTORS AREN'T ASKING FOR THIS INFORMATION BUT THE COMMITTEE DIDN'T INCLUDE ANY INVESTORS IN THEIR TESTIMONY BUT ONLY OPERATING COMPANIES. I NEVER HEARD ANY INVESTOR SAY I WANT INFORMATION TO BE HARDER TO SEARCH OR FIND. NO INVESTOR SAYS I WANT TO KNOW LESS INFORMATION. THAT ARGUMENT THAT THIS INFORMATION ISN'T WELCOMED BY INVESTORS IS INCORRECT AND WILL BE COUNTERED BY EVERYONE IN THE INVESTMENT COMMUNITY. I BELIEVE THIS PACKAGE SHOULD MERIT SUPPORT FROM MY COLLEAGUES ON BOTH SIDES OF THE AISLE. H.R. 766 DOES ADDRESS AN IMPORTANT ISSUE AND THAT IS INEXCUSEABLE ACTIONS OF OPERATION CHOKE POINT WHICH COULD BE DESCRIBED AS AN OVERZEALOUS USE OF THE DEPARTMENT OF JUSTICE'S POWER AND TO ROOT OUT ACTIVITIES THAT ARE DETERMINED TO BE POLITICALLY UNPOPULAR. AS WE EXAMINE THIS BILL, IT LOOKS LIKE IT HAS UNGIN TENDED CON SEE -- UNINTENDED CONSEQUENCES. AND I HOPE THAT WE CAN ADDRESS THE OPERATION CHOKE POINT ISSUE AND PREVENT THIS ADMINISTRATION AND FUTURE ADMINISTRATIONS FROM ENGAGING, HAVING D.O.J. ENGAGE IN THIS TROUBLESOME USE OF AUTHORITY TO CLOSE ACCOUNTS FOR LEGITIMATE AND LEGAL CONSUMERS. IF A BANK OR CREDIT UNION HAS A LEGAL BUSINESS AND IT'S LEGAL IN THE STATE AND DEEM IT CREDIT WORTHY AND GOOD CUSTOMER, THEY SHOULD BE ABLE TO SERVE THAT CUSTOMER. THE FEDERAL GOVERNMENT SHOULD NOT USE THE BANK ITSELF AS THE GO-BETWEEN IN A DISPUTE. IT SHOULD BE RESOLVED BY THE D.O.J. AND THE CONSUMER AND NOT THE BANK'S. I HOPE THERE IS BIPARTISAN LEGISLATION IN THIS AREA TO ENSURE THIS PRESIDENT AND THE FUTURE DEPARTMENT OF JUSTICES DO NOT ABUSE THEIR AUTHORITY. ONE REAL LIFE EVERY DAY ISSUE WHERE THIS CONCEPT COMES UP WITH THE FEDERAL GOVERNMENT INTERFERING WITH ITS LEGAL CUSTOMER, WOULD HAVE BEEN ADDRESSED BY THE PERLMUTTER AGREEMENT. IT'S NOT JUST A COLORADO ISSUE. AND FRANKLY, IF THIS BILL ADDRESSED THAT ISSUE DESPITE IT BEING OVER ARCHING IN OTHER AREAS, I WOULD PROBABLY SUPPORT IT. AND UNFORTUNATELY, NOT EVEN A MINUTE, NOT EVEN A SECOND OF DEBATE IS ALLOWED ON THIS ISSUE. THE GENTLEMAN FROM OHIO CLAIMED WE ARE. WE ARE NOT. THERE IS NO TIME FOR THE SPONSORS OF THE AMENDMENT TO MAKE THEIR CASE OR PROPONENTS OF THE AMENDMENT TO MAKE THEIR CASE. MANY AMENDMENTS HAVE 10 MINUTES. THERE IS NOT EVEN A SECOND OF THE DEBATE OF THAT AMENDMENT BY MR. PERLMUTTER AND I CANNOT SUPPORT THIS RULE. 213 MILLION OF AMERICANS WHERE THE VOTERS HAVE ALLOWED FOR SOME LEGAL MARIJUANA USE. COLORADO TRIED TO SOLVE THE PROBLEM LOCALLY BUT WE WERE REJECTED IN THE COURTS. CONGRESS NEEDS TO MAKE THIS CHANGE. ONLY CONGRESS CAN ADDRESS THIS ISSUE. WHILE THERE REMAINS A NEED TO ALIGN FEDERAL AND STATE LAWS. THEY HAVE ISSUED SOME GUIDANCE AND SOME PROVIDING BANKING SERVICES, THE GUIDANCE DOES NOT SOLVE THE PROBLEM WHICH IS WHY WE NEED TO CHANGE THE LAW AND PROVIDE CERTAINTY WHICH THIS AMENDMENT HAS BIPARTISAN SUPPORT AND LIKELY WOULD HAVE PASSED ON THE FLOOR BUT IT IS BEING COMPLETELY SHUT DOWN UNDER THIS RULE, EVEN THOUGH IT FURTHERS THE LEGISLATION AND CONSISTENT WITH THE LEGISLATION, AND YET IT IS COMPLETELY SHUT DOWN IN A CLOSED PROCESS THAT RUNS CONTRARY TO THE SPEAKER'S STATED GOAL OF ALLOWING MEMBERS ON BOTH SIDES OF THE AISLE CONTRIBUTE TO MAKE BILLS BETTER. I RESERVE.

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  • 01:25:02 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN'S TIME HAS EXPIRED. THE GENTLEMAN FROM OHIO.

  • 01:25:05 PM

    I WOULD LIKE TO ADDRESS TWO QUICK POINTS WITH REGARD TO 1675 AND…

    I WOULD LIKE TO ADDRESS TWO QUICK POINTS WITH REGARD TO 1675 AND EXPORTABLE DATA. THE GENTLEMAN TRIES TO CLAIM THAT THIS DATA WILL NOT BE AVAILABLE. IT WILL BE AVAILABLE IN SCANNED-IN INFORMATION SO YOU CAN STILL LOOK AT IT AND SEE IT. IT'S NOT PEN AND PAPER DATA THE WAY HE ALLEGES. IT IS STILL VERY ACCESSIBLE ON THE ELECTRONIC SYSTEMS. IT'S JUST NOT EXPORTABLE DATA. AND THE QUESTION IS THAT EXPORTABLE DATA WORTH THE $50,000 COSTS FOR THESE SMALL COMPANIES. ONLY A FEW SMALL COMPANIES THAT WILL BENEFIT FROM BEING RELIEVED FROM THIS BURDEN BECAUSE THE COST IS MORE THAN THE BENEFIT. SECONDLY, THE GENTLEMAN FROM COLORADO CONTINUES TO IGNORE THE FACT THAT MARIJUANA BUSINESSES ARE NOT LEGAL UNDER FEDERAL LAW. IF HE WANTS TO HAVE THE DEBATE WHETHER THEY SHOULD BE LEGAL UNDER FEDERAL LAW, WE SHOULD HAVE THAT DEBATE. THAT IS NOT GERMANE. WE ARE TALKING ABOUT LEGAL BUSINESSES THAT ARE LEGAL UNDER FEDERAL AND STATE LAW, NOT AMBIGUOUS BUSINESSES THAT ARE LEGAL IN ONE JURISDICTION OR THE OTHER. IN THE FEDERAL SYSTEM, IF HE WANTS TO DEBATE MAKING MARIJUANA LEGAL AT THE FEDERAL LEVEL, THAT'S LEGITIMATE. THIS IS FOR BUSINESSES THAT ARE LEGAL AT THE STATE AND FEDERAL LEVEL. I YIELD TWO MINUTES TO THE GENTLEMAN FROM GEORGIA, WHO IS A DISTINGUISHED MEMBER OF THE COMMITTEE ON OVERSIGHT THAT HAD A LOT OF HEARINGS ON OPERATION CHOKE POINT, MR. CARTER FROM GEORGIA.

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  • 01:26:42 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN IS RECOGNIZED.

  • 01:26:44 PM

    I THANK THE GENTLEMAN FROM OHIO FOR YIELDING AND HIS LEADERSHIP ON THIS…

    I THANK THE GENTLEMAN FROM OHIO FOR YIELDING AND HIS LEADERSHIP ON THIS IMPORTANT ISSUE. MR. SPEAKER, I RISE TODAY IN SUPPORT OF H.R. 766, THE FINANCIAL INSTITUTION CONSUMER PROTECTION ACT OF 2016. THE OBAMA ADMINISTRATION'S DEPARTMENT OF JUSTICE STRONGARMED THE FINANCIAL INDUSTRY IN AN AMENDMENT TO CUT OFF PAYMENT PROCESSORS, SHORT-TERM LENDERS, GUN AND AMMUNITION STORES AND OTHER COMPANIES FROM BANKING SERVICES SIMPLY BECAUSE THEY DO NOT LIKE THEIR LINE OF BUSINESS. OPERATION CHOKE POINT IS JUST ANOTHER EXAMPLE OF THIS ADMINISTRATION TRYING TO ADVANCE ITS RADICAL LEFTIST AGENDA THROUGH EXECUTIVE POWER OVERREACH WITH THE DISREGARD FOR AMERICANS' DUE PROCESS RIGHTS. IN EFFECT, THESE BUSINESSES ARE BEING TREATED AS IF THEY ARE GUILTY UNTIL PROVEN INNOCENT. THE BILL BEFORE US TODAY PREVENTS FEDERAL BUREAUCRATS FROM ABUSING THEIR EXECUTIVE POWER TO PREVENT LEGITIMATE BUSINESSES FROM USING DEPOSIT OTHER BANKS AND REQUIRES WRITTEN REQUEST TO TERMINATE A BUSINESS' ACCOUNT UNLESS THE BUSINESS POSES A LEGITIMATE THREAT TO NATIONAL SECURITY. IN THE FIRST CONGRESSIONAL DISTRICT OF GEORGIA THAT I REPRESENT, WE HAVE A LARGE MULTI STATE LICENSED CONSUMER FINANCE COMPANY THAT SERVICES A THOUSAND NEW CUSTOMERS EVERY DAY. THIS IS ANOTHER KL OF THIS ADMINISTRATION WORKING TO LIMIT ECONOMIC GROWTH AND AMERICANS' FREE WILL. I URGE MY COLLEAGUES TO SUPPORT THIS BILL IS SO WE CAN PUT AN END TO THIS ADMINISTRATION'S UNCONSTITUTIONAL ACTIONS AND RESTORE THE RULE OF LAW. I YIELD BACK TO THE GENTLEMAN FROM OHIO.

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  • 01:28:29 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM COLORADO.

  • 01:28:32 PM

    MR. POLIS

    I INQUIRE OF THE THE GENTLEMAN FROM OHIO IF HE HAS ANY REMAINING SPEAKERS.

  • 01:28:37 PM

    MR. STIVERS

    I HAD ONE MORE. BUT HE HAS NOT SHOWN UP. I'M PREPARED TO CLOSE.

  • 01:28:44 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM COLORADO.

  • 01:28:49 PM

    MR. POLIS

    I'M PREPARED TO CLOSE AND I YIELD MYSELF THE REMAINDER OF THE TIME.

  • 01:28:54 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN IS RECOGNIZED.

  • 01:28:56 PM

    I APPRECIATE THE COMMITTEE'S JURISDICTION AND NINE AMENDMENTS ARE MADE IN…

    I APPRECIATE THE COMMITTEE'S JURISDICTION AND NINE AMENDMENTS ARE MADE IN ORDER BUT THE ONE THAT'S MOST IMPORTANT TO NOT ONLY MY HOME STATE BUT THE JURISDICTIONS IN WHICH 213 MILLION AMERICANS LIVE, 22 STATES PLUS THE DISTRICT OF COLUMBIA IS OMITTED FROM CONSIDERATION AND THIS APPROPRIATE AND GERMANE BILL. I STRONGLY OBJECT TO THE UNNECESSARY GATEKEEPING OF THE RULES COMMITTEE AND WHAT THEY HAVE ENGAGED IN AND THE WAY THEY HAVE TREATED THIS EXCELLENT IDEA AND REAL WORLD SOLUTION FROM MR. PERLMUTTER AND MR. HECK. ACCESS TO BANKING SERVICES IS FUNDAMENTAL IMPORTANCE TO ALL BUSINESSES. THAT INCLUDES STATE LEGAL MARIJUANA BUSINESSES. JUST BECAUSE SOME MEMBERS OF CONGRESS AND THEY ARE IN THE MINORITY EVERY DAY OBJECT TO THE VERY EXISTENCE OF THESE BUSINESSES DOES NOT MEAN THAT THEY SHOULD OBSTRUCT THE ENTIRE LEGISLATIVE PROCESS AND SHUT DOWN OUR ABILITY TO MAKE IT POSSIBLE FOR THESE BUSINESSES TO EXIST, GROW AND SUCCEED. THE PERLMUTTER-HECK AMENDMENT IS A GERMANE AND THOUGHTFUL SOLUTION TO A REAL WORLD PROBLEM AND I HOPE THE HOUSE ATONES BY SWIFTLY TAKING UP LEGISLATION TO SOLVE THIS BANKING ISSUE ONCE AND FOR ALL. THIS WAS A DISCUSSION WE HAD IN OUR COMMITTEE YESTERDAY BUT UNFORTUNATELY THE DISCUSSION WE ARE NOT ALLOWED TO HAVE ON THE PEOPLE'S FLOOR ON THE HOUSE OF REPRESENTATIVES. THERE IS NOT AN AMENDMENT THAT WOULD HAVE SOMEHOW LEGALIZED OR ANY JUDGMENT ABOUT THE LEGALITY OR MORALITY OF MARIJUANA BUT ADDRESS A BANKING ISSUE THAT OPPONENTS AND PROPONENTS AGREE NEEDS TO BE ADDRESSED. . I HAVE LEGISLATION TO REGULATE MARIJUANA LIKE ALCOHOL. THOSE FOLLOWING AT HOME NEED TO KNOW THAT THE PERLMUTTER AMENDMENT IS NOT THAT DISCUSSION. IT WAS GERMANE TO THE BILL. WE WERE DISCUSSING AND FRANKLY GETS AT THE ISSUE OF WHY OUR BANKS ARE BEING USED AS A CHOKE POINT FOR DOING BUSINESS WITH OTHERWISE LEGAL AND LEGITIMATE CUSTOMERS, AS DETERMINED BY THE STATES. MR. SPEAKER, FOR THESE REASONS, WHILE I SUPPORT TWO OF THE -- ONE OF THE TWO UNDERLYING BILLS, AND I WANT TO SUPPORT THE OTHER IF IT DEALT WITH THE ISSUE THAT THOSE LIVE IN A JURISDICTION FACES, I URGE MY COLLEAGUES TO VOTE NO, DEFEAT THE PREVIOUS QUESTION, VOTE NO ON THE RULE, AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 01:31:33 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE GENTLEMAN FROM OHIO.

  • 01:31:36 PM

    THANK YOU, MR. SPEAKER. I APPRECIATE THE GENTLEMAN FROM COLORADO'S POINTS.…

    THANK YOU, MR. SPEAKER. I APPRECIATE THE GENTLEMAN FROM COLORADO'S POINTS. THESE TWO BILLS ARE GREAT BILLS. THE FIRST BILL HELPS PRESERVE AND INCENTIVIZE EMPLOYEE STOCK OWNERSHIP. IT DECREASES BURDENSOME REGULATION THAT ALLOW THESE MIDDLE MARKET COMPANIES I TALKED ABOUT EARLIER TO HAVE ACCESS TO CAPITAL AND CONTINUE TO GROW, AND IT ENSURES THAT ENTREPRENEURS CAN HAVE ACCESS TO THE CAPITAL MARKETS IN AN AFFORDABLE AND EFFICIENT WAY. H.R. 766 ADDRESSES LEGAL BUSINESSES. AGAIN, I WANT TO STRESS LEGAL BUSINESSES. THE GENTLEMAN FROM COLORADO, MR. SPEAKER, I THINK WOULD WELCOME THE DAY OF THE ARTICLES OF CONFEDERATION. I WANTS TO IGNORE WE HAVE A STATE AND A FEDERAL GOVERNMENT. HE WANTS THE STATES TO JUST MAKE DECISIONS AND NOT ALLOW THE FEDERAL GOVERNMENT TO DO ANYTHING. IF MARIJUANA'S ILLEGAL AT THE FEDERAL LEVEL, THAT'S A FACT. IF HE WANTS TO HAVE THE DEBATE ABOUT MAKING MARIJUANA LEGAL AT THE FEDERAL LEVEL, WE SHOULD DO THAT. THAT IS NOT GERMANE IN THIS BILL. THESE BUSINESSES ARE AT BEST AMBIGUOUSLY LEGAL, AND I WOULD SAY THEY'RE CLEARLY ILLEGAL AT THE FEDERAL LEVEL, SO LET'S CLEAR UP THE AMBIGUITY AND THEN THEY CAN HAVE THE SAME ACCESS THAT OTHER LEGAL BUSINESSES LIKE GUN DEALERS AND AUTOMOBILE DEALERS AND SHORT-TERM LENDERS ARE ALREADY LEGAL AT BOTH THE STATE AND FEDERAL LEVEL. THEY NEED ACCESS TO BANKING SERVICES. H.R. 766 MAKES SURE THEY WILL CONTINUE TO HAVE ACCESS TO BANKING SERVICES. I WOULD URGE MY COLLEAGUES TO SUPPORT THE RULE AND THE UNDERLYING BILL. THERE ARE SOME AMENDMENTS THAT I'LL BE SUPPORTING AND OTHERS WILL BE SUPPORTING AND MAKE YOUR MIND UP ON THE AMENDMENTS, BUT I THINK THIS BILL -- BOTH THESE BILLS ARE IMPORTANT. I WOULD URGE MY COLLEAGUES TO SUPPORT THE RULE AND THE UNDERLYING BILLS. I YIELD BACK THE BALANCE OF MY TIME AND I MOVE THE PREVIOUS QUESTION ON THE RESOLUTION.

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  • 01:33:24 PM

    THE SPEAKER PRO TEMPORE

    THE QUESTION IS ON ORDERING THE PREVIOUS QUESTION ON THE RESOLUTION. THOSE…

    THE QUESTION IS ON ORDERING THE PREVIOUS QUESTION ON THE RESOLUTION. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT.

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  • 01:33:32 PM

    MR. POLIS

    MR. SPEAKER, ON THAT I REQUEST A RECORDED VOTE.

  • 01:33:34 PM

    THE SPEAKER PRO TEMPORE

    A RECORDED VOTE IS REQUESTED. ALL THOSE IN FAVOR OF TAKING THIS VOTE BY…

    A RECORDED VOTE IS REQUESTED. ALL THOSE IN FAVOR OF TAKING THIS VOTE BY THE -- BY A RECORDED VOTE WILL RISE. A SUFFICIENT NUMBER HAVING ARISEN, A RECORDED VOTE IS ORDERED. PURSUANT TO CLAUSE 9 OF RULE 20, TO CHAIR WILL REDUCE TO FIVE MINUTES ON ANY ELECTRONIC VOTE. THIS IS A 15-MINUTE VOTE. [CAPTIONING MADE POSSIBLE BY THE NATIONAL CAPTIONING INSTITUTE, INC., IN COOPERATION WITH THE UNITED STATES HOUSE OF REPRESENTATIVES. ANY USE OF THE CLOSED-CAPTIONED COVERAGE OF THE HOUSE PROCEEDINGS FOR POLITICAL OR COMMERCIAL PURPOSES IS EXPRESSLY PROHIBITED BY THE U.S. HOUSE OF REPRESENTATIVES.]

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  • 01:53:23 PM

    THE SPEAKER PRO TEMPORE

    THE YEAS ARE 240 AND THE NAYS ARE 176. MAJORITY VOTING IN THE AFFIRMATIVE,…

    THE YEAS ARE 240 AND THE NAYS ARE 176. MAJORITY VOTING IN THE AFFIRMATIVE, THE PREVIOUS QUESTION IS ORDERED. QUESTION IS ON ADOPTION OF THE RESSLUGE. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. -- RESOLUTION. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO.

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  • 01:53:41 PM

    MR. POLIS

    I REQUEST A RECORDED VOTE.

  • 01:53:47 PM

    THE SPEAKER PRO TEMPORE

    A RECORDED VOTE IS REQUESTED. MEMBERS WILL RECORD THEIR VOTES BY…

    A RECORDED VOTE IS REQUESTED. MEMBERS WILL RECORD THEIR VOTES BY ELECTRONIC DEVICE. THIS IS A FIVE-MINUTE VOTE. [CAPTIONING MADE POSSIBLE BY THE NATIONAL CAPTIONING INSTITUTE, INC., IN COOPERATION WITH THE UNITED STATES HOUSE OF REPRESENTATIVES. ANY USE OF THE CLOSED-CAPTIONED COVERAGE OF THE HOUSE PROCEEDINGS FOR POLITICAL OR COMMERCIAL PURPOSES IS EXPRESSLY PROHIBITED BY THE U.S. HOUSE OF REPRESENTATIVES.]

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  • 01:59:31 PM

    THE SPEAKER PRO TEMPORE

    ON THIS VOTE, THE YEAS ARE 242, THE NAYS ARE 175. THE RESOLUTION IS…

    ON THIS VOTE, THE YEAS ARE 242, THE NAYS ARE 175. THE RESOLUTION IS ADOPTED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE.

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  • 02:00:07 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

  • 02:00:12 PM

    MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT ALL MEMBERS MAY HAVE FIVE…

    MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT ALL MEMBERS MAY HAVE FIVE LEGISLATIVE DAYS TO REVISE AND EXTEND THEIR REMARKS AND SUBMIT EXTRANEOUS MATERIALS ON THE BILL H.R. 1675, TO TO DIRECT THE SECURITIES AND EXCHANGE COMMISSION TO REVISE ITS RULES SO AS TO INCREASE THE THRESHOLD AMOUNT FOR REQUIRING ISSUERS TO PROVIDE CERTAIN DISCLOSURES RELATING TO COMPENSATORY BENEFIT PLANS. AND MR. SPEAKER, THE HOUSE IS NOT IN ORDER.

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  • 02:00:36 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN IS CORRECT. THE GENTLEMAN WILL SUSPEND. THE HOUSE WILL BE IN…

    THE GENTLEMAN IS CORRECT. THE GENTLEMAN WILL SUSPEND. THE HOUSE WILL BE IN ORDER. THE HOUSE WILL BE IN ORDER. WILL ALL MEMBERS TAKE THEIR CONVERSATIONS OFF THE FLOOR? THE HOUSE IS NOT IN ORDER. ALL MEMBERS, PLEASE REMOVE YOUR CONVERSATIONS FROM THE HOUSE FLOOR. ALL MEMBERS, PLEASE TAKE YOUR CONVERSATIONS OFF THE FLOOR. THE GENTLEMAN FROM TEXAS IS RECOGNIZED. WITHOUT OBJECTION, GENERAL LEAVE IS GRANTED. PURSUANT TO HOUSE RESOLUTION 595 AND RULE 18, THE CHAIR DECLARES THE HOUSE IN THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION FOR THE CONSIDERATION OF H.R. 1675. THE CHAIR APPOINTS THE GENTLEMAN FROM PENNSYLVANIA, MR. THOMPSON, TO PRESIDE OVER THE COMMITTEE OF THE WHOLE.

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  • 02:02:09 PM

    THE CHAIR

    THE STATE OF THE UNION FOR THE CONSIDERATION OF H.R. 1675, WHICH THE CLERK…

    THE STATE OF THE UNION FOR THE CONSIDERATION OF H.R. 1675, WHICH THE CLERK WILL REPORT BY TITLE.

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  • 02:02:19 PM

    THE CLERK

    A BILL TO DIRECT THE SECURITIES AND EXCHANGE COMMISSION TO REVISE ITS…

    A BILL TO DIRECT THE SECURITIES AND EXCHANGE COMMISSION TO REVISE ITS RULES SO AS TO INCREASE THE THRESHOLD AMOUNT FOR REQUIRING ISSUERS TO PROVIDE CERTAIN DISCLOSURES RELATING TO COMPENSATORY BENEFIT PLANS.

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  • 02:02:31 PM

    THE CHAIR

    PURSUANT TO THE RULE, THE BILL IS CONSIDERED AS READ THE FIRST TIME. THE…

    PURSUANT TO THE RULE, THE BILL IS CONSIDERED AS READ THE FIRST TIME. THE GENTLEMAN FROM TEXAS, MR. HENSARLING, AND THE GENTLEWOMAN FROM CALIFORNIA, MS. WATERS, EACH WILL CONTROL 30 MINUTES. THE CHAIR RECOGNIZES THE GENTLEMAN FROM TEXAS. BEFORE THE GENTLEMAN FROM TEXAS DOES THAT, LET ME -- THE COMMITTEE OF THE WHOLE WILL BE IN ORDER. MEMBERS, TAKE YOUR CONVERSATIONS FROM THE AISLES AND FROM THE BACK OF THE CHAMBER SO THAT THE COMMITTEE OF THE WHOLE CAN PROCEED. THE COMMITTEE OF THE WHOLE WILL BE IN ORDER. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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  • 02:03:25 PM

    THANK YOU, MR. CHAIRMAN. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MR.…

    THANK YOU, MR. CHAIRMAN. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MR. CHAIRMAN, I RISE IN STRONG SUPPORT OF H.R. 1675, THE ENCOURAGING EMPLOYEE OWNERSHIP ACT. I DO THIS BECAUSE AS YOU KNOW, MR. CHAIRMAN, REGRETTABLY WE SAW THAT IN THE LAST QUARTER THIS ECONOMY GREW AS A PALTRY .7%. ON AN ANNUALIZED BASIS, THIS ECONOMY IS LIMPING ALONG AT ROUGHLY HALF THE NORMAL GROWTH RATE. THAT MEANS THAT THIS ECONOMY IS NOT WORKING FOR WORKING FAMILIES WHO UNDER EIGHT YEARS OF OBAMANOMICS FOUND THEMSELVES WITH SMALLER PAYCHECKS AND SMALLER BANK ACCOUNTS AND GREATER ANXIETY ABOUT HOW THEY ARE GOING TO MAKE THEIR MORTGAGE PAYMENTS, HOW ARE THEY GOING TO MAKE THEIR CAR PAYMENTS, ARE THEY GOING TO BE ABLE TO SAVE ENOUGH TO SEND SOMEBODY TO COLLEGE. THIS ECONOMY IS STILL UNDERPERFORMING FOR AMERICAN FAMILIES, AND SO IT'S INCREDIBLE THAT WE HELP OUR SMALL BUSINESSES, WHICH ARE TRULY THE JOB ENGINE IN OUR ECONOMY, MR. CHAIRMAN, AS YOU WELL KNOW. SO I WANT TO COMMEND THE SPONSORS OF THE FIVE BILLS THAT MAKE UP H.R. 1675 -- REPRESENTATIVES HULTGREN, HILL, HUIZENGA AND HURT. THEIR WORK HAS RESULTED IN A BIPARTISAN BILL THAT WE THINK WILL HELP CREATE A HELPEDIER ECONOMY. AGAIN, WE -- HEALTHIER ECONOMY. AGAIN, WE KNOW THAT 60% OF THE JOBS FROM THE PAST DECADE FROM COME FROM SMALL BUSINESSES. IF WE WANT A HEALTHIER ECONOMY THAT PROVIDES MORE OPPORTUNITY, WE HAVE TO OFFER MORE OPPORTUNITIES FOR SMALL BUSINESS GROWTH AND SMALL BUSINESS STARTUPS. WE HAVE TO ENSURE THEY HAVE CAPITAL AND THE CREDIT THEY NEED TO GROW. YOU CAN'T HAVE CAPITALISM WITHOUT CAPITAL, MR. CHAIRMAN. AND YET WE'VE HEARD FROM COUNTLESS WITNESSES IN OUR COMMITTEE, FROM COMMUNITY BANKS TO CREDIT UNIONS, THE PRIMARY SOURCE OF SMALL BUSINESS LOANS, THAT THEY'RE DROWNING, DROWNING IN A SEA OF COMPLEX, COMPLICATED, EXPENSIVE REGULATIONS, MANY OF THEM EMANATING FROM THE DANGE ACT, WHICH IS CAUSING -- DODD-FRANK ACT, WHICH IS CAUSING A BURDEN ON THE ECONOMY AND WORKING FAMILIES. AND THE SAME IS TRUE OF MANY OF OUR BURDENSOME SECURITY REGULATIONS AS WELL. MANY OF THEM ARE WELL-INTENTIONED BUT, MR. CHAIRMAN, THEY WERE WRITTEN WITH OUR LARGEST PUBLIC COMPANIES IN MIND, BUT THEY END UP HURTING OUR SMALLER COMPANIES. IT'S TIME THAT WE HELP LEVEL THAT PLAYING FIELD FOR SMALL BUSINESSES WITH SMARTER REGULATIONS THAT WILL STILL MAINTAIN OUR FAIR AND EFFICIENT MARKETS, PROTECT INVESTORS BUT ALLOW SMALL COMPETITORS THE CHANCE TO SUCCEED. AND WE MAKE SOME PROGRESS TODAY ON THIS BIPARTISAN BILL, H.R. 1675. NOW, IT'S A MODEST BILL, MR. CHAIRMAN. IT IS ONLY 20 PAGES LONG. ANYBODY CAN READ IT. IT PROVIDES MANY OVERDUE IMPROVEMENTS THAT WILL HELP SPUR CAPITAL FORMATION AND THE LEGISLATION GIVES COMPANIES OPTIONS AND CHOICES ON HOW TO BEST ATTRACT INVESTMENT AND CAPITAL. AND IN A FREE SOCIETY, ISN'T THAT WHERE WE SHOULD BE? IT UPDATES RULES TO ALLOW SMALL BUSINESSES TO BETTER COMPENSATE THEIR EMPLOYEES WITH OWNERSHIP IN THE BUSINESS. LET THEM HAVE A PIECE OF THE AMERICAN DREAM. IN SO DOING IT STRENGTHENS PROVISIONS ENACTED INTO LAW IN THE BIPARTISAN JOBS ACT AND THE FAST ACT TO GIVE EMPLOYEES A GREATER OPPORTUNITY TO SHARE IN THE SUCCESS OF THEIR EMPLOYER. IT CODIFIES NO ACTION RELIEF ISSUED BY THE S.E.C. TO REMOVE REGULATORY BURDENS FOR INDIVIDUALS WHO ASSIST WITH THE TRANSFER OF OWNERSHIP OF SMALL AND MID-SIZED PRIVATELY HELD COMPANIES. YOU KNOW, IT WILL PROVIDE INVESTORS BY EXTENDING A LIABILITY SAFE HARBOR CONSISTENT WITH OTHER SECURITY OFFERINGS. IT PROVIDES A VOLUNTARY, MR. CHAIRMAN -- I REPEAT, VOLUNTARY EXEMPTION FROM REPORTING IN XBLR FORMAT IN SMALLER PUBLIC COMPANIES. THE COST AND USE OF HAVE HAVE CONTINUALLY BEEN QUESTIONED IN OUR CAN HE. THE COMMITTEE RECEIVED TESTIMONY FROM A -- IN OUR COMMITTEE. THE COMMITTEE RECEIVED TESTIMONY FROM A BIOTECHNOLOGIST YIELDED A CONSENSUS RESPONSE THEY WEREN'T EVEN AWARE OF XBRL, BUT THE WITNESS WENT ON TO SAY THAT HIS COMPANY IS HAVING TO SPEND $50,000 ANNUALLY IN COMPLIANCE COSTS THAT OBVIOUSLY COULD HAVE BEEN BETTER SPENT IN PRODUCTIVITY AND JOB CREATION. AND FINALLY, IT REQUIRES THE S.E.C. TO CONDUCT A RETROSPECTIVE REVIEW EVERY 10 YEARS TO UPDATE OR ELIMINATE OUTDATED, UNNECESSARY AND DUPLICATIVE REGULATIONS. THIS IS ALSO KNOWN, MR. CHAIRMAN, AS COMMON SENSE. THE ADMINISTRATION CLAIMS THAT THIS PROSIGNIFICANCE IS DUPLICATIVE BECAUSE -- THAT THIS IS DUPLICATIVE. WELL, ENCOURAGEMENT DOESN'T GET THE JOB DONE. WE NEED TO ENSURE THAT THESE REGULATIONS ARE LOOKED AT AND AT LEAST LOOKED AT ON A DECADE BASIS. NOW, YOU WILL HEAR SOME SAY, WELL, THE S.E.C.'S RESOURCES ARE STRETCHED TOO THIN. WELL, I'M HAPPY TO IMPBACK AND AMEND DODD-FRANK SO THAT THEY HAVE MORE RESOURCES TO DEVOTE TO CAPITAL FORMATION AND, BY THE WAY, THEY JUST GOT A BIG FAT RAISE IN THE LATEST OMNIBUS. AND SO, MR. CHAIRMAN, I DON'T THINK THAT ARGUMENT HOLDS MUCH WATER. BY ENACTING H.R. 1675, WE'RE GOING TO EASE THE BURDENS ON SMALL BUSINESSES AND JOB CREATORS, AND ISN'T THAT WHAT WE OUGHT TO BE ABOUT? WE WILL HELP FOSTER CAPITAL FORMATIONS SO AMERICANS CAN GO BACK TO WORK, HAVE BETTER CAREERS, PAY THEIR MORTGAGES, PAY THEIR HEALTH CARE PREMIUMS AND ULTIMATELY GIVE THEIR FAMILIES A BETTER LIFE. I URGE MY COLLEAGUES TO JOIN ME IN SUPPORTING H.R. 1675. I RESERVE THE BALANCE OF MY TIME.

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  • 02:09:13 PM

    THE CHAIR

    THE GENTLEMAN RESERVES. THE GENTLELADY IS RECOGNIZED.

  • 02:09:17 PM

    MS. WATERS

    THANK YOU VERY MUCH, MR. CHAIRMAN. I YIELD MYSELF SUCH TIME AS I MAY…

    THANK YOU VERY MUCH, MR. CHAIRMAN. I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

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  • 02:09:21 PM

    THE CHAIR

    WITHOUT OBJECTION. THE GENTLELADY IS RECOGNIZED.

  • 02:09:23 PM

    THANK YOU, MR. CHAIRMAN. I RISE TODAY IN STRONG OPPOSITION TO H.R. 1675.…

    THANK YOU, MR. CHAIRMAN. I RISE TODAY IN STRONG OPPOSITION TO H.R. 1675. IT IS REALLY A PACKAGE OF FIVE BILLS WHICH WILL HARM INVESTORS AND PERVERSELY BURY SMALL BUSINESSES REPUBLICANS SAY THEY WANT TO HELP. IT DOES SO BY IGNORING AND SUPPLANTING THE GOOD JUDGMENT OF THE TO REQUIRE THE SECRETARY OF STATE AND THE ADMINISTRATOR OF THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT TO SUBMIT REPORTS ON DEFINITIONS OF PLACEMENT AND RECRUITMENT FEES FOR PURPOSES OF ENABLING COMPLIANCE WITH THE TRAFFICKING VICTIMS, WHICH HAS ALREADY SOUGHT TO PROVIDE SMALL BUSINESSES WITH REGULATORY RELIEF IN THESE SAME AREAS WHILE ENSURING THAT THOSE INVESTORS IN THOSE AREAS HAVE THE PROTECTS THEY DESERVE. THE S.E.C.'S BALANCED APPROACH MAKES SENSE. AS INVESTORS WHO ARE NOT CONFIDENT IN THE INTEGRITY OF OUR MARKETS WILL SIMPLY NOT INVEST WHICH MEANS THAT JOB-CREATING COMPANIES WILL NOT HAVE THE CAPITAL THEY NEED TO GROW. IN PARTICULAR, THIS BILL WOULD REDUCE CORPORATE TRANSPARENCY FOR EMPLOYEE STOCK HOLDERS BY ALLOWING PRIVATE COMPANIES TO COMPENSATE THEIR EMPLOYEES WITH UP TO $10 MILLION IN STOCK EVERY YEAR WITHOUT HAVING TO PROVIDE THEM WITH RELATIVELY SIMPLE DISCLOSURES ABOUT THE FINANCIALS OF THE COMPANY OR THE RISK ASSOCIATED WITH THESE SECURITIES. MR. CHAIRMAN AND MEMBERS, I'M NOT GOING TO ATTEMPT TO HIDE THE FACTS OF THIS BILL WITH A LOT OF RHETORIC. THE FACT OF THE MATTER IS, IF EMPLOYEES HAVE BEEN GIVEN STOCK UP TO $10 MILLION THAT THEY DON'T KNOW THE VALUE OF AND THE COMPANIES DON'T HAVE TO DISCLOSE ANYTHING ABOUT THE STOCK, THEY COULD END UP WITH WORTHLESS STOCK, NOT MEANING ANYTHING WHERE THEY HAD GREAT EXPECTATIONS THAT SOMEHOW IN LIEU OF RAISES AND MORE MONEY THAT THEY PROBABLY DESERVE THEY'RE BEING GIVEN ROTTEN STOCK. THIS PROVISION WOULD DOUBLE THE CURRENT THRESHOLD IN ALLOWING LARGER COMPANIES WITH AT LEAST $34 MILLION IN TOTAL ASSETS TO ENCOURAGE OVERINVESTMENT BY EMPLOYEES IN A COMPANY THAT THEY CANNOT VALUE AND THAT MAY NEVER PERMIT THEM TO SELL EXCEPT BACK TO THE COMPANY AT A PRICE SET BY THE COMPANY. THAT'S ANOTHER ASPECT OF THIS. THIS TYPE OF DEREGULATION INVITES MORE ENRON-TYPE STUFF IN THE MARKET. REMEMBER ENRON? REMEMBER WHAT HAPPENED TO THOSE FAMILIES. SOMETIMES YOU HAD THE HUSBAND AND THE WIFE WHO HAD THIS BAD STOCK THAT THEY COULDN'T SELL BACK, THEY COULDN'T DO ANYTHING WITH. AND SO WHERE EMPLOYEES HAVE TO TRUST THE ACCOUNTING OF THEIR COMPANIES BUT INSTEAD ARE LEFT WITH VALUELESS STOCK. SIMILARLY, THIS BILL WOULD EXEMPT OVER 60% OF PUBLIC COMPANIES FROM USING A COMPUTER READABLE FORMAT KNOWN AS XBRL IN THEIR S.E.C. FILINGS, EXEMPTING SUCH A LARGE NUMBER OF FILERS WOULD PREVENT THESE COMPANIES FROM BEING EASILY COMPARED TO OTHER COMPANIES THAT USE XBRL TO THE DISADVANTAGED OF ANALYSTS, RESEARCHERS AND THE S.E.C., INVESTORS AND EVEN THE COMPANIES THEMSELVES. AND SO BASICALLY WHAT YOU'RE DOING IS SAYING, WE'RE GOING TO HAVE A BILL HERE THAT WOULD PREVENT THE KIND OF INFORMATION THAT ANALYSTS AND RESEARCHERS THE S.E.C. AND INVESTORS SHOULD HAVE, COMPARING THEM WITH OTHER COMPANIES BECAUSE SOMEHOW WE WANT TO PROTECT THOSE WHO DON'T WANT PEOPLE TO REALLY KNOW WHAT THEIR WORTH IS. THIS IS VERY SERIOUS STUFF. ACCORDING TO THE S.E.C.'S INVESTOR ADVOCATE, THIS EXEMPTION, QUOTE, SERIOUSLY IMPEDS THE ABILITY OF THE S.E.C. TO BRING DISCLOSURE INTO THE 21ST CENTURY. THAT'S THEIR QUOTE, UNQUOTE. TITLE 3 OF THE BILL FURTHER SUPPLANTS THE S.E.C.'S GOOD JUDGMENT BY EXPANDING THE COMMISSION'S RECENTLY PROVIDED RELIEF FOR CERTAIN MERGERS AND ACQUISITION BROKERS WITHOUT IMPOSING EIGHT IMPORTANT INVESTOR PROTECTIONS GRANTED BY THE S.E.C. AS A RESULT, BAD ACTORS WHO MAY HAVE COMMITTED FRAUD AND SHELL COMPANIES COULD USE THIS RELIEF AND BROKERS WOULD HAVE TO MAKE BASIC DISCLOSURES ABOUT THEIR CONFLICT OF INTEREST. IN COMMITTEE MARKUP, DEMOCRATS ATTEMPTED TO CLOSE THESE LOOPHOLES, BUT OUR EFFORTS WERE REJECTED IN A PARTY LINE VOTE. CAN YOU IMAGINE THAT THE S.E.C. HAS TAKEN A BIG STEP AND THEY HAVE LISTENED TO CONCERNS, THEY HAVE LISTENED TO COMPLAINTS AND THEY HAVE GONE OVERBOARD TO MAKE SURE THAT THEY WERE PROVIDING RELIEF FOR CERTAIN KIND OF MERGERS AND ACQUISITIONS? BUT WHAT THIS BILL WOULD DO IS THEY WOULD TAKE AWAY THE ABILITY OF THE S.E.C. TO HAVE INVESTOR PROTECTIONS THAT THEY HAVE ALREADY GRANTED AND SO, AGAIN, THIS BILL THAT INCLUDES FIVE BILLS ALL DESIGNED BASICALLY TO DISREGARD THE INVESTORS, DISREGARD THE SMALL BUSINESS PEOPLE, DISREGARD THE AVERAGE AMERICAN CITIZEN IS A BILL THAT WOULD SIMPLY GO IN THE WRONG DIRECTION, HELPING THE CORPORATIONS WHO WOULD SIMPLY NOT WANT TO DISCLOSE AND NOT WANT TO BE SEEN FOR WHAT THEY ARE. TITLE 2 ALSO FAILS TO SUFFICIENTLY PROTECT INVESTORS AS IT ELIMINATES OFFERING LIABILITY FOR BROKERS WHO UNDER THE GUISE OF PROVIDING EXCHANGE TRADED FUND, OR E.T.F., RESEARCH REPORTS, COULD SELECTIVELY USE DATA TO PROMOTE AND SELL HIGHLY RISKY, COMPLEX AND LITTLE KNOWN E.T.F.'S TO UNSUSPECTED RETAIL INVESTORS. FINALLY, THE BILL SEEKS TO IMPOSE ADDITIONAL REGULATORY BURDENS ON THE S.E.C. BY REQUIRING IT TO CONDUCT A DUPLICATIVE AND MORE ONEROUS RETROSPECTIVE REVIEW OF ITS RULES. SPECIFICALLY, TITLE 5 WOULD REQUIRE THE S.E.C. WITHIN FIVE YEARS OF ENACTMENT TO REVIEW AND REVISE ALL OF THESE RULES, WHICH I SHOULD MENTION DATES BACK TO 1934, IT WOULD ALSO ALLOW THE S.E.C. TO OVERRIDE CONGRESSIONAL MANDATES, INCLUDING THOSE IN THE DODD-FRANK WALL STREET REFORM BILL. REPUBLICANS ON THE FINANCIAL SERVICES COMMITTEE ARE ALWAYS CLAIMING THAT THE S.E.C. IS UNRESPONSIVE TO CONGRESS AND YET THIS PROVISION IN THE BILL WOULD ALLOW THE COMMISSION TO UNILATERALLY REPEAL THE WILL OF CONGRESS AT THEIR WHIM. . THIS IS A FAILED REPUBLICAN ATTEMPT TO IMPOSE COST BENEFIT-TYPE ANALYSIS ON OUR REGULATORS AS A MEANS OF ELIMINATING RULES DESIGNED TO BENEFIT THE PUBLIC AND PROTEST INVESTORS. H.R. 1675 IS AN ANTI-INVESTOR BILL THAT WILL REDUCE TRANSPARENCY, ESTABLISH ADDITIONAL ADMINISTRATIVE BURDENS THAT ARE S.E.C., AND CREATE EASILY EXPLOITED LOOPHOLES FOR BAD ACTORS. SO IT IS WELL-KNOWN THAT THE MEMBERS ON THE OPPOSITE SIDE OF THE AISLE DO NOT LIKE OUR COP ON THE BLOCK, AND WHILE THEY TALK ABOUT WHAT THE S.E.C. WILL OR CAN OR WILL NOT DO, THEY SIMPLY TRY AND STRANGLE IT BY BEING OPPOSED TO THEM HAVING THE ADEQUATE FUNDING THAT THEY NEED IN ORDER TO DO THEIR JOB. SO WHEN WE HEAR TODAY, FOR EXAMPLE, AS THE CHAIRMAN SAID, HE WOULD BE WILLING TO SUPPORT SOME FUNDING FOR S.E.C. IT IS VERY IMPORTANT THAT THEY PUT THEIR MONEY WHERE THEIR MOUTHS ARE AND MAKE SURE THAT THE S.E.C. HAS THE MONEY TO DO ITS JOB. IN CONCLUSION ABOUT THIS BILL, THIS BILL GOES IN THE WRONG DIRECTION. IT'S UNFORTUNATE AT A TIME WHEN WE HAVE GONE THROUGH A RECESSION BASED ON 2008 AND THE UNWILLINGNESS OR THE INABILITY FOR OUR REGULATORY AGENCIES TO WATCH OVER OUR INVESTORS AND TO WATCH OVER OUR AVERAGE SMALL BUSINESSPEOPLE AND HOMEOWNERS, ETC., ETC., AND WHILE WE ARE TRYING DESPERATELY TO CLEAN UP THIS MESS THE DODD-FRANK REFORMS, WE WOULD COME IN HERE AT THIS TIME, AT THIS TIME HAVING EXPERIENCED ALL OF THIS WITH A BILL LIKE THIS THAT WOULD TRY AND PROTECT THE WORST ACTORS IN THE FINANCIAL SERVICES INDUSTRY. I WOULD URGE MY COLLEAGUES TO OPPOSE 1675 AND I RESERVE THE BALANCE OF MY TIME.

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  • 02:18:29 PM

    THE CHAIR

    THE GENTLELADY FROM CALIFORNIA RESERVES, THE GENTLEMAN FROM TEXAS.

  • 02:18:32 PM

    MR. HENSARLING

    MR. CHAIRMAN, I WOULD LIKE TO YIELD FOUR MINUTES TO THE GENTLEMAN FROM…

    MR. CHAIRMAN, I WOULD LIKE TO YIELD FOUR MINUTES TO THE GENTLEMAN FROM ILLINOIS, MR. HULTGREN, A WORKHORSE ON OUR COMMITTEE AND THE CHIEF SPONSOR OF H.R. 1675 TO BRING MORE JOBS TO THE AMERICAN PEOPLE.

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  • 02:18:46 PM

    THE CHAIR

    THE GENTLEMAN FROM ILLINOIS IS RECOGNIZED FOR FOUR MINUTES.

  • 02:18:49 PM

    THANK YOU, MR. CHAIRMAN. I WANT TO ESPECIALLY THANK CHAIRMAN HENSARLING…

    THANK YOU, MR. CHAIRMAN. I WANT TO ESPECIALLY THANK CHAIRMAN HENSARLING FOR HIS GREAT WORK ON THE FINANCIAL SERVICES COMMITTEE AND SPECIFICALLY WANT TO THANK HIM FOR HIS HELP IN THIS BILL COMING TO THE FLOOR TODAY. TODAY I AM VERY PROUD TO SPEAK IN SUPPORT OF THE CAPITAL MARKETS IMPROVEMENT ACT. THE BILL INCLUDES A NUMBER OF IMPORTANT TITLES THAT MY COLLEAGUES ON THE HOUSE FINANCIAL SERVICES COMMITTEE, REPUBLICANS AND DEMOCRATS, ARE CONFIDENT WILL IMPROVE OUR CAPITAL MARKETS WHETHER IT'S REDUCING REGULATORY REQUIREMENTS FOR EMERGING GROWTH COMPANIES SUBJECT TO REDUNDANT REPORTING REQUIREMENTS TO THE S.E.C., OR MAKING IT EASIER FOR INVESTORS TO HAVE ACCESS TO INVESTMENT REPORTS ON EXCHANGE TRADED FUNDS. THIS BILL ALSO INCLUDES A TITLE I WORKED ON DILIGENTLY WITH MR. DELANEY TO MAKE IT EASIER FOR COMPANIES IN ILLINOIS AND NATIONWIDE TO LET HARDWORKING EMPLOYEES OWN A STAKE IN THE BUSINESS THAT THEY ARE A PART OF. THE ILLINOIS BIOTECHNOLOGY INDUSTRY ORGANIZATION, WHICH REPRESENTS COMPANIES THAT EMPLOY THOUSANDS OF RESIDENTS IN MY DISTRICT AN THROUGHOUT ILLINOIS, BELIEVES THAT MAKING IT EASIER FOR COMPANIES TO OFFER EMPLOYEE OWNERSHIP HELPS ILLINOIS BUSINESSES EXPAND AND HIRE MORE WORKERS. WARREN RIBBABLY, THE PRESIDENT AND C.E.O. OF IBIO, STATED AND I QUOTE, AT SOMEONE WHO WORK IN ECONOMIC DEVELOPMENT FOR MOST OF MY CAREER, I KNOW OFFERING AN OWNERSHIP STAKE TO EMPLOYEES IS A CRITICAL TOOL IN RECRUITING TOP TALENT TO JOB GENERATING COMPANIES, AND THERE IS NO DOUBT THAT AN BEING WIT STAKE ENCOURAGES EMPLOYEES TO DRIVE HARD FOR SUCCESS OF THE ENTERPRISE. EEOA PROMISES TO AID IN JOB CREATION IN ILLINOIS' GROWING TECHNOLOGY SECTOR, ESPECIALLY FOR THE MANY EARLY STAGE COMPANIES WITH WHOM WE ASSIST ALONG THEIR COMMERCIALIZATION PATH, END QUOTES. UNFORTUNATELY, SOME COMPANIES ARE SHYING AWAY FROM OFFERING EMPLOYEE OWNERSHIP BECAUSE OF REGULATIONS ON HOW MUCH OWNERSHIP THEY CAN OFFER. RULE 701 MANDATES VARIOUS DISCLOSURES FOR PRIVATELY HELD COMPANIES THAT SELL MORE THAN $5 MILLION WORTH OF SECURITIES FOR EMPLOYEE COMPENSATION OVER A 12-MONTH PERIOD. IN 1999 THE S.E.C. ARBITRARILY SET THIS THRESHOLD AT $5 MILLION WITHOUT A CONCRETE EXPLANATION FOR WHY INVESTORS WOULD EXPERIENCE DIFFICULTIES WITH SALES ABOVE THIS NUMBER. FOR BUSINESSES WHO WANT TO OFFER MORE STOCK TO MORE EMPLOYEES, THIS RULE FORCES THOSE BUSINESSES TO MAKE CONFIDENTIAL DISCLOSURES THAT COULD GREATLY DAMAGE FUTURE INNOVATIONS IF THEY FELL INTO THE WRONG HANDS. THIS REQUIRES INFORMATION -- REQUIRED INFORMATION INCLUDES BUSINESS SENSITIVE INFORMATION, INCLUDING THE FINANCIALS AND CORRESPONDING MATERIALS LIKE FUTURE PLANS AND CAPITAL EXPENDITURES. THE S.E.C. ORIGINALLY ACKNOWLEDGED THIS AND SOME VOICED THEIR CONCERN THAT A DISGRUNTLED EMPLOYEE COULD USE THIS CONFIDENTIAL INFORMATION TO HARM THEIR FORMER EMPLOYER. LEAVING ASIDE THE RISKS INVOLVED IN DISCLOSING THIS CONFIDENTIAL INFORMATION, IT'S COSTLY TO PREPARE THESE DISCLOSURES JUST SO A BUSINESS CAN OFFER THE BENEFITS OF OWNERSHIP TO THEIR EMPLOYEES. MY BILL IS SIMPLE, IT'S A SIMPLE BIPARTISAN FIX THAT CHANGES THAT. EEOA AMENDS S.E.C. RULE 701 TO RAISE THE DISCLOSURE THRESHOLD FROM $5 MILLION TO $10 MILLION AND ADDRESS THE THRESHOLD -- ADJUST THE THRESHOLD FOR INFLATION EVERY FIVE YEARS. ISSUERS ARE THAT EXEMPT FROM A DISCLOSURE WOULD STILL HAVE TO COMPLY WITH ALL PERNTNENT ANTI-FRAUD AND CIVIL LIABILITY REQUIREMENTS. THE EMPLOYEES PURCHASING THESE SECURITIES GO TO THEIR BUSINESS EVERY DAY AND ALREADY HAVE A GOOD SENSE OF HOW THEIR COMPANY IS OPERATING. SUPPORT FOR THIS EFFORT TO IMPROVE THE UTILITYITY OF RULE 701 CAN ACTUALLY BE FOUND IN THE S.E.C.'S OWN GOVERNMENT BUSINESS FORUM ON SMALL BUSINESS CAPITAL FORMATION FINAL REPORTS FOR 2001, 2004, TO 2005 AND 2013. AS THE CHAMBER OF COMMERCE HAS EXPLAINED, THIS LEGISLATION WOULD HELP GIVE EMPLOYEES OF AMERICAN BUSINESS AS GREATER CHANCE TO PARTICIPATE IN THE SUCCESS OF THEIR COMPANY. AND INCREASING THIS THRESHOLD THEY EXSPAIN WOULD ENSURE THAT RULE 701 REMAINS A VIABLE PROVISION FOR BUSINESSES TO USE IN THE FUTURE AND DECREASE THE LIKELIHOOD OF UNNECESSARY REGULATORY REQUIREMENTS. THERE IS NO EVIDENCE TO SUGGEST THAT RULE 701 IS NOT WORKING FOR COMPANIES AND THEIR EMPLOYEES. WE HAVE EVERY REASON TO MAKE THIS OPTION AVAILABLE TO MORE AMERICANS WITH THE DESIRE TO BUILD THEIR WEALTH THROUGH THEIR COMPANIES' SUCCESS. FINALLY, I WANT TO UNDERSCORE HOW IMPORTANT IT IS THAT CAPITAL MARKETS IMPROVEMENT ACT PASS WITH A STRONG BIPARTISAN VOTE JUST LIKE EACH TITLE OF THIS BILL PASSED IN THE FINANCIAL SERVICES COMMITTEE UNDER CHAIRMAN HENSARLING'S LEADERSHIP. MY BILL, THE ENCOURAGING EMPLOYEE OWNERSHIP ACT, HAD BIPARTISAN VOTE OF 45-15 IN COMMITTEE. MR. HILL'S BILL MAKING INVESTMENT REPORTS ON E.T.F.'S MORE ACCESSIBLE, HAD A VOTE OF 48-9. ABOUT HUIZENGA'S BILL HAD A VOTE OF 36-24. MR. HURTS' BILL ALLOWING AN OPTION AT EXEMPTION FOR EMERGING GROWTH COMPANIES HAD A VOTE OF 44-11. MR. HERTZ' BILL REQUIRING THE S.E.C. RETROACTIVELY REVIEW ITS REGULATIONS HAD A 41-16 VOTE. I URGE ALL MY COLLEAGUES TO VOTE IN SUPPORT OF THE CAPITAL MARKETS IMPROVEMENT ACT OF 2016. I YIELD BACK.

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  • 02:24:02 PM

    THE CHAIR

    THE GENTLEMAN'S TIME HAS EXPIRED. THE GENTLELADY FROM CALIFORNIA.

  • 02:24:06 PM

    MS. WATERS

    I NOW YIELD THREE MINUTES TO THE GENTLELADY FROM OHIO, A MEMBER OF THE…

    I NOW YIELD THREE MINUTES TO THE GENTLELADY FROM OHIO, A MEMBER OF THE FINANCIAL SERVICES COMMITTEE, MRS. BEATTY.

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  • 02:24:13 PM

    THE CHAIR

    THE GENTLELADY FROM OHIO IS RECOGNIZED.

  • 02:24:16 PM

    MISS BEATTY

    THANK YOU --

  • 02:24:19 PM

    THANK YOU TO RANKING MEMBER MAXINE WATERS. WE HEARD CONGRESSWOMAN MAXINE…

    THANK YOU TO RANKING MEMBER MAXINE WATERS. WE HEARD CONGRESSWOMAN MAXINE WATERS OUTLINE OUR POSITION FOR IT. LET ME JUST SAY, FLAWED. OVERLY BROAD. AVOIDS APPROPRIATE OVERSIGHT. DUPLICATIVE OF EXISING ADMINISTRATIVE AUTHORITIES, AND IT COULD BE WASTEFUL AND COSTLY. I JOIN HER TODAY IN BEING IN OPPOSITION TO H.R. 1675. A PACKAGE OF CAPITAL MARKETS DEREGULATORY BILLS THAT UNDERMINES THE SECURITY AND EXCHANGE COMMISSION'S EFFECTIVE OVERSIGHT OF CAPITAL MARKETS AND PLACES THE G.O.P. SPECIAL INTEREST AHEAD OF THOSE HARDWORKING AMERICANS WHO WE ARE HERE TO SERVE. SECONDLY, THE PACKAGE ALSO EXCLUES EXEMPTIONS FROM CERTAIN INVESTORS, DISCLOSURES, AND SCEC FILING REQUIREMENTS AND A SAFE HARBOR FROM CERTAIN BROKERED DEALERS' LIABILITIES. ALL WITHOUT COMMENSURATE INVESTORS PROTECTIONS. A KEY COMPONENT OF THIS PACKAGE IS THE TITLE 5-H.R. 2354 WHICH IS AN UNNECESSARY BURDENSOME AND UNFUNDED MANDATE REQUIRING A FULL SCALE REVIEW DESIGNED TO HAMSTRING THE S.E.C.'S ABILITY TO PERFORM BASIC OVERSIGHT OF THE FINANCIAL MARKETS. AND TITLE 3 OF THE PACKAGE EXEMPTS SMALL BUSINESS MERGER AND ACQUISITION BROKERS FROM REGISTRATION AS A BROKER DEALER WITH THE S.E.C. MR. SPEAKER, LET ME SUM IT UP BY SAYING THAT THE BAD OUTWEIGHS THE GOOD IN THIS BILL AND I STAND IN OPPOSITION TO IT. I YIELD BACK.

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  • 02:26:15 PM

    THE SPEAKER PRO TEMPORE

    COIP THE GENTLELADY YIELDS BACK. THE GENTLEMAN FROM TEXAS.

  • 02:26:18 PM

    MR. HENSARLING

    MR. CHAIRMAN, I'M NOW PLEASED TO YIELD THREE MINUTES TO THE GENTLEMAN FROM…

    MR. CHAIRMAN, I'M NOW PLEASED TO YIELD THREE MINUTES TO THE GENTLEMAN FROM CALIFORNIA, MR. ROYCE, A VALUED MEMBER OF THE FINANCIAL SERVICES COMMITTEE AND CHAIRMAN OF THE HOUSE FOREIGN AFFAIRS COMMITTEE.

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  • 02:26:31 PM

    THE CHAIR

    THE GENTLEMAN FROM CALIFORNIA VIRGINIA TECH FOR THREE MINUTES.

  • 02:26:33 PM

    MR. ROYCE

    THANK YOU, MR. SPEAKER. MR. CHAIRMAN, THANK YOU VERY MUCH. AND THE REASON…

    THANK YOU, MR. SPEAKER. MR. CHAIRMAN, THANK YOU VERY MUCH. AND THE REASON WE ARE HERE, FRANKLY THE REASON THIS LEGISLATION IS ON THE FLOOR, IS BECAUSE OF THE ANEMIC ECONOMIC GROWTH THAT THE UNITED STATES IS FACING. WE'VE GOT LESS THAN 2% ECONOMIC GROWTH. AND IF WE ARE GOING TO FIGURE OUT A WAY TO GET THE ECONOMIC ENGINE RUNNING AGAIN, WE HAVE GOT TO DO SOMETHING TO REMOVE THE BARRIERS TO ACCESS TO CAPITAL. AND THAT IS WHAT THE CAPITAL MARKETS IMPROVEMENT ACT ATTEMPTS TO DO HERE. THIS LEGISLATION STREAMLINING EXCESSIVE AND COSTLY REGULATIONS REVIEW ACT, IT MOVES US TOWARDS THE POSITION WHERE -- LET'S FACE IT, REGULATORS AREN'T PERFECT. THEY ARE LIKE LAWMAKERS IN THAT SENSE. AND REGULATORS HAVE A CERTAIN OBLIGATION TO EXAMINE THEIR RECORD TO DETERMINE FAILURES AND TO RECTIFY MISSTEPS AS NEEDED. AND THE STREAMLINING EXCESSIVE AND COSTLY REGULATIONS REVIEW ACT WILL GIVE THE SECURITIES AND EXCHANGE COMMISSION THE OPPORTUNITY TO DO SO AND IT WOULD SET THAT UP ON AN ONGOING BASIS. BECAUSE WHAT IT DOES IS TO REQUIRE A RETROSPECTIVE COMMISSION REVIEW OF RULES AND REGULATION THAT IS HAVE AN ANNUAL ECONOMIC IMPACT OR COST OF $100 MILLION OR MORE AND RESULT IN A MAJOR INCREASE OF COSTS OR PRICES FOR CONSUMERS OR HARM THE ABILITY OF U.S. ENTERPRISES TO COMPETE AGAINST FOREIGN COMPETITORS. COMMISSIONERS WILL BE ABLE TO REVERSE INEFFECTIVE, INSUFFICIENT, OR EXCESS I HAVELY BURDENSOME REGULATION WAS THE GUIDANCE OF PUBLIC NOTICE AND COMMENT UNDER THIS LEGISLATION. AND IT ENSURES THAT THE S.E.C. ISN'T SIMPLY GROLLING ROLLING OUT THE RED TAPE IN A VACUUM OF. OBLIVIOUS TO THE NEGATIVE ECONOMIC IMPACT THAT THEIR ACTIONS HAVE ON CONSUMERS OR INVESTORS AND BUSINESSES. THE SUCCESS OF REGULATION OR RULE MAKING SHOULDN'T BE MEASURED IN QUANTITY. INSTEAD WE NEED SMART GUIDELINES TO PROTECT OUR ECONOMY AND PRESERVE THE WORLD'S STRONGEST CAPITAL MARKETS HERE IN THE UNITED STATES. SO, MR. SPEAKER, I THANK THE AUTHOR OF THIS BILL, MR. HURT OF VIRGINIA, FOR HIS LEADERSHIP ON THIS ISSUE AND I URGE MY COLLEAGUES TO JOIN ME IN SUPPORTING THIS. I YIELD BACK THE BALANCE OF MY TIME.

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  • 02:29:00 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

  • 02:29:06 PM

    MS. WATERS

    I NOW YIELD THREE MINUTES TO THE GENTLEMAN FROM MASSACHUSETTS, THE RANKING…

    I NOW YIELD THREE MINUTES TO THE GENTLEMAN FROM MASSACHUSETTS, THE RANKING MEMBER OF THE TASK FORCE TO INVESTIGATE TERRORISM ON THE FINANCIAL SERVICES COMMITTEE,

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  • 02:29:16 PM

    THE CHAIR

    THE GENTLEMAN FROM MASSACHUSETTS IS RECOGNIZED.

  • 02:29:18 PM

    MR. LYNCH

    THANK YOU, MR. SPEAKER. I THANK THE GENTLELADY FOR YIELDING. IT IS VERY…

    THANK YOU, MR. SPEAKER. I THANK THE GENTLELADY FOR YIELDING. IT IS VERY RARE THAT I GET TO SPEAK IN OPPOSITION TO SUCH BAD LEGISLATION, BUT NOT ONLY DO WE HAVE A SINGLE BILL THAT IS BAD LEGISLATION, MY FRIENDS ACROSS THE AISLE HAVE PACKAGED FIVE BAD BILLS AND PUT THEM ALL TOGETHER. AND MY ONLY REGRET IS THAT I ONLY HAVE THREE MINUTES TO SPEAK ABOUT THESE BILLS. LET ME SINGLE ONE OUT. THE ENCOURAGING EMPLOYEE OWNERSHIP ACT OF 2015. CURRENTLY EMPLOYEE BENEFIT PLANS MUST DISCLOSE INFORMATION TO EMPLOYEES WHO INVEST IN THOSE PLANS IF THE PLANS' ASSETS ARE ABOVE $5 MILLION. H.R. 1675, THE ENCOURAGING EMPLOYEE OWNERSHIP ACT OF 2015, NOW 2016, MODIFIES S.E.C. RULE 701 BY ALLOWING PRIVATE COMPANIES TO COMPENSATE THEIR EMPLOYEES UP TO $10 MILLION. INDEXED FOR INFLATION. THEY CAN PAY THEIR EMPLOYEES IN STOCK, BASICALLY, BUT THE KEY HERE IS THAT THEY DON'T HAVE TO PROVIDE THE SAME INFORMATION THAT THEY WOULD TO INVESTORS OUTSIDE INVESTORS, IN THAT SAME STOCK. . AND THEREIN LIES THE DANGER. SMALL DRUG COMPANIES, SMART COMPUTER COMPANIES, THOSE WITH SMALLER PLANS WHICH ARE OFTENTIMES THOSE COMPANIES ARE MORE SUBJECT TO THE -- THEY'RE MORE VULNERABLE TO THE UPS AND DOWNS OF THE ECONOMY, THESE ARE THE MOST VULNERABLE, SO THE EMPLOYEES IN THOSE SMALL PLANS THAT ARE PAID WITH COMPANY STOCK WOULD BE -- WOULD BE LESS PROTECTED AS TO HOW THEIR STOCKS ARE PERFORMING. LAST CONGRESS I VOTED AGAINST A SIMILAR BILL, H.R. 4571, WHEN IT WAS MARKED UP IN OUR COMMITTEE. I ALSO SPOKE IN OPPOSITION TO THIS BILL WHEN IT WAS ENTITLED TO -- ENTITLED IN ANOTHER BILL. MERGER AND ACQUISITION ADVISORS AND FINANCIAL INSTITUTIONS -- PROBABLY DOING MUCH -- MUCH DAMAGE TO EMPLOYEES AND WORKING FAMILIES. I STRONGLY SUPPORT EMPLOYEES RECEIVING EQUITY. I THINK THAT'S A GOOD DEAL. IF EMPLOYEES CAN RECEIVE STOCK OPTIONS AND IMPORTANTLY IF THEY CAN KNOW ABOUT THE VALUE OF THOSE STOCKS AND KNOW ABOUT THE CONDITIONS OF THESE COMPANIES, THAT COULD BE A HUGE ADVANTAGE. EMPLOYEES WILL BUY INTO THE COMPANY. BUT THEY NEED TO KNOW THE INFORMATION ABOUT WHAT THE STOCK IS WORTH, AND THIS BILL ALLOWS THEM TO BE -- THAT INFORMATION TO BE DENIED THEM. THEY'RE BUYING A PIG AND A POE. THEY DON'T KNOW WHAT THE STOCKS ARE WORTH. SO IT PUTS THEM AT A TREMENDOUS DISADVANTAGE AND, AGAIN, THESE ARE COMPANIES THAT THE ONES THAT ARE MOST VULNERABLE TO UPS AND DOWNS IN THE ECONOMY GOING FORWARD. I AGREE WITH PROFESSOR TERESA GAPPLETON FROM GEORGE WASHINGTON UNIVERSITY, HER REMARKS DURING OUR APRIL 29 SUBCOMMITTEE HEARING. DURING HER TESTIMONY, SHE EXPRESSED OPPOSITION TO THIS BILL FOR THE VERY REASONS I STATED.

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  • 02:32:44 PM

    MS. WATERS

    I YIELD TO THE GENTLEMAN FOR 130EKDS.

  • 02:32:50 PM

    EMPLOYEES DESERVE THE SAME PROTECTION AS INVESTORS. THIS MAKES SENSE. THIS…

    EMPLOYEES DESERVE THE SAME PROTECTION AS INVESTORS. THIS MAKES SENSE. THIS IS EASY. WE SHOULD BE ABLE TO DO WHAT WE WANT TO DO HERE AND STIMULATE THE ECONOMY AND YET AT THE SAME TIME ALLOW THESE EMPLOYEES TO HAVE THE INFORMATION THAT THEY NEED TO KNOW WHAT THE VALUE OF THE STOCKS THEY'RE BEING PAID WITH ARE WORTH. IT'S SIMPLE AS THAT. SO THANK YOU FOR YOUR INDULGENCE TO THE RANKING MEMBER AND TO THE SPEAKER AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 02:33:19 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK. THE GENTLEMAN FROM TEXAS.

  • 02:33:22 PM

    I YIELD MYSELF 10 SECONDS TO REMIND MY FRIENDS WHO HAVE SPOKEN THAT TITLE…

    I YIELD MYSELF 10 SECONDS TO REMIND MY FRIENDS WHO HAVE SPOKEN THAT TITLE 1 OF THIS BILL PASSED 45-15 WITH DEMOCRATIC SUPPORT. TITLE 2, 48-9 WITH DEMOCRAT SUPPORT. TITLE 3 IN THE LAST CONGRESS PASSED 42407B0. TITLE 4, 44-0. TITLE 5, 45-16 WITH DEMOCRAT SUPPORT. SO PERHAPS THEY SHOULD DISCUSS THESE ATTACKS AMONGST THEMSELVES FIRST. I NOW AM VERY HAPPY TO YIELD SIX MINUTES TO THE GENTLEMAN FROM VIRGINIA, MR. HURT, ONE OF THE PRIME SPONSORS AND CO-AUTHOR -- NOT A THIS TIME. I'VE ALREADY GONE THROUGH MY 10 SECONDS. AUTHOR OF TITLE 4 AND TITLE 5, SIX MINUTES.

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  • 02:34:10 PM

    THE CHAIR

    THE GENTLEMAN FROM VIRGINIA IS RECOGNIZED FOR SIX MINUTES.

  • 02:34:13 PM

    FOR HIS LEADERSHIP IN MOVING THIS LEGISLATION TO THE FLOOR. I RISE TODAY…

    FOR HIS LEADERSHIP IN MOVING THIS LEGISLATION TO THE FLOOR. I RISE TODAY IN SUPPORT OF THIS BILL, THE CAPITAL MARKETS IMPROVEMENT ACT. I TRAVEL ACROSS VIRGINIA'S FIFTH DISTRICT, THE NUMBER ONE ISSUE IS THE DESPERATE NEED FOR JOB CREATION. MAKING SURE THAT HARDWORKING VIRGINIANS AND AMERICANS HAVE ADEQUATE ACCESS TO CAPITAL MARKETS IS IMPERATIVE TO JOB CREATION AND TO SUSTAINED ECONOMIC GROWTH FOR OUR GREAT NATION. THIS IS WHY IT IS SO IMPORTANT THAT THE FINANCIAL SERVICES COMMITTEE AND THE HOUSE OF REPRESENTATIVES CONTINUE TO PUSH LEGISLATION THAT WILL MAKE IT EASIER FOR OUR BUSINESSES, FOR OUR FARMERS AND FOR FAMILIES TO BE SUCCESSFUL. INDEED, EVERY PROVISION WITHIN THIS BILL TODAY WE ARE CONSIDERING HAS RECEIVED BIPARTISAN SUPPORT. EACH TITLE OF THIS BILL IS CRITICAL TO ENHANCING ACCESS TO CAPITAL AND ENSURING THAT THE U.S. CAPITAL MARKETS REMAIN THE MOST VIBRANT IN THE WORLD. WITHIN THIS CAPITAL MARKETS IMPROVEMENT ACT, I AM PLEASED THAT TWO PROVISIONS THAT I HAVE SPONSORED HAVE BEEN INCLUDED. SMALL COMPANY DISCLOSURE SIMPLIFICATION ACT AND THE STREAMLINING AND EXCESSIVE REGULATION REVIEW ACT. TITLE 4, IT ADDRESSES A 2009 MANDATE FROM THE S.E.C. WHICH REQUIRED THE USE OF EXTENSIVE REPORTING LANGUAGE OR XBRL, FOR PUBLIC COMPANIES. WHILE THE S.E.C.'S RULE IS WELL INTENDED, THIS REQUIREMENT HAS BECOME ANOTHER EXAMPLE OF A REGULATION WHERE THE COSTS OFTEN OUTWEIGH THE POTENTIAL BENEFITS. THESE COMPANIES SPEND THOUSANDS OF DOLLARS AND MORE COMPLYING WITH THE REGULATION, YET THERE IS LITTLE EVIDENCE THAT INVESTORS USE XBRL, LEADING ONE TO QUESTION THE REAL-WORLD BENEFITS. THE PROVISION BEFORE US IS A MEASURED STEP THAT WOULD OFTEN SMALL BUSINESSS RELIEF FROM XBRL. TITLE 4 PROVOIDS A VOLUNTARY EXEMPTION FROM EMERGING GROWTH COMPANIES AND SMALLER PUBLIC COMPANIES FROM THE S.E.C.'S REQUIREMENTS TO FILE THEIR FINANCIAL STATEMENTS VIA XBRL IN ADDITION TO THEIR REGULAR FILINGS WITH THE S.E.C. IT'S IMPORTANT TO NOTE THAT NOTHING IN THIS BILL PRECLUDES COMPANIES FROM USING THE FILINGS WITH THE S.E.C. IT IS COMPLETELY OPTIONAL AND ALLOWS SMALLER COMPANIES TO ASSESS WHETHER THE COSTS INCURRED ARE OUTWEIGHED BY ANY BENEFITS USING THIS TECHNOLOGY. DURING OUR COMMITTEE'S HEARING ON THIS ISSUE, ONE COMPANY REPORTED THAT IT SPENT $50,000 ON COMPLYING WITH XBRL. THAT IS A REAL COST TO A SMALL COMPANY, ESPECIALLY WHEN THAT COST DOES NOT YIELD A SIGNIFICANT BENEFIT. I'M NOT SUGGESTING EVERY FIRM PAYS THIS MUCH BUT WE CAN AGREE WHEN FILING FEES ARE THIS HIGH WE SHOULD ENSURE THAT IT WILL RESULT IN BEAN FIT TO THE COMPANY. IT'S IMPORTANT TO NOTE ALL PUBLIC COMPANIES WILL CONTINUE TO FILE QUARTERLY AND ANNUAL STATEMENTS WITH THE S.E.C. THE BILL WILL NOT KILL THE IMPLEMENTATION OF XBRL OR STRUCTURED DATA AT THE S.E.C. IT IS PROVIDING AN EXEMPTION FOR SMALLER COMPANIES SO THEY BETTER UTILIZE THEIR CAPITAL. THIS BILL PREVIOUSLY RECEIVED STRONG BIPARTISAN SUPPORT IN THE FINANCIAL SERVICES COMMITTEE AND ON THE FLOOR OF THIS HOUSE WHEN THIS MEASURE WAS PART OF THE PROMOTING JOB CREATION AND REDUCING SMALL BUSINESSES BURDEN ACT. SIMILARLY, DURING THE LAST CONGRESS, THIS BILL WAS ALSO PROVED BY A STRONG BIPARTISAN VOTE IN THE HOUSE. I ASK THAT MY COLLEAGUES ONCE AGAIN SUPPORT THIS COMMONSENSE LEGISLATION TODAY. IN ADDITION TO THE DISCLOSURE SIMPLIFICATION ISSUES, WE'VE ALSO SUPPORTED SHES -- SPONSORED TITLE 5. THIS IS A BIPARTISAN BILL THAT I CRAFTED WITH MY COLLEAGUE, KIRSTEN SINEMA OF ARIZONA. THE REVIEW ACT IS ABOUT ACCOUNTABLE AND REPRESENTATIVE GOVERNMENT AND MAKING SURE THAT THE S.E.C. IS TAKING AN ONGOING RETROSPECTIVE LOOK AT ITS REGULATIONS. THIS LEGISLATION WOULD SIMPLY REQUIRE THE S.E.C. TO REVIEW ITS MAJOR RULES AND REGULATIONS ON A REGULAR BASIS TO DETERMINE WHETHER THEY ARE STILL EFFECTIVE OR OUTDATED OR WHETHER THEY NEED TO BE CHANGED IN SOME REGARD. IN FACT, OTHER PRUDENTIAL REGULATORS, LIKE THE FDIC, THE O.C.C. AND FEDERAL RESERVE, ARE ALREADY DOING THIS. DURING THE MID 1990'S, THE REGULATORY PAPERWORK REDUCTION ACT REQUIRED THESE ENTITIES TO CONDUCT A RETROSPECTIVE REVIEW TO DETERMINE IF THEY'RE STILL EFFECTIVE AND REPORT THEIR FINDINGS TO CONGRESS. BECAUSE THE HOUSE BANKING COMMITTEE AT THE TIME DID NOT HAVE JURISDICTION OVER THE S.E.C., THE S.E.C. WAS LEFT OUT OF THIS PROCESS. TITLE 5 I WOULD SIMPLY REQUIRE THE S.E.C. TO REVIEW ITS REGULATIONS WITH THE GOLET OF ENSURING THAT THEY ARE EFFECTIVE AND UP TO DATE. IT WEAN ABLE THE S.E.C. TO AFFORD THE S.E.C. WITH THE AUTONOMY AND FLEXIBILITY TO MAKE THIS MANDATE EFFECTIVE. PRESIDENT OBAMA HIMSELF ENDORSED THIS IDEA IN MULTIPLE 2011 EXECUTIVE ORDERS AND THE OTHER PRODUNINGS REGULATORS ARE OPERATING -- PRUDENTIAL REGULATORS ARE OPERATING UNDER A SIMILAR PROCESS. MOREOVER, THIS BILL PROVIDES CONGRESS WITH THE INSIGHT IT NEEDS TO HOLD THE COMMISSION ACCOUNTABLE AND THE LEGISLATION ADHERES TO THE REQUIREMENTS OF THE ADMINISTRATIVE PROCEDURE ACT. ALL SAID, THE STRUCTURE AND THE PROCESS OF TITLE 5 WILL PROVIDE INDUSTRY, THE S.E.C. AND CONGRESS WITH THE STRUCTURE AND TIME NECESSARY TO ENSURE THAT THIS RETROSPECTIVE REVIEW PROCESS IS EFFECTIVE. I ASK MY COLLEAGUES TO JOIN ME IN SUPPORTING THIS BILL SO THAT WE -- THIS TITLE SO WE CAN CONTINUE TO IMPROVE THE S.E.C.'S REGULATORY REGIME. IN CLOSING, LET ME AGAIN THANK THE COMMITTEE CHAIRMAN, CHAIRMAN HENSARLING, AND CHAIRMAN GARRETT, WHO IS OUR CAPITAL MARKETS SUBCOMMITTEE CHAIR, FOR MAKING THESE TWO PROVISIONS APART OF THIS ACT. THANK YOU, MR. CHAIRMAN. AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 02:39:50 PM

    THE CHAIR

    THE GENTLEMAN FROM VIRGINIA YIELDS BACK. THE GENTLELADY FROM CALIFORNIA IS…

    THE GENTLEMAN FROM VIRGINIA YIELDS BACK. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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  • 02:39:54 PM

    MS. WATERS

    I NOW YIELD THREE MINUTES TO THE GENTLELADY FROM NEW YORK, THE RANKING…

    I NOW YIELD THREE MINUTES TO THE GENTLELADY FROM NEW YORK, THE RANKING MEMBER OF THE SUBCOMMITTEE ON CAPITAL MARKETS ON THE FINANCIAL SERVICES COMMITTEE, MRS. MALONEY.

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  • 02:40:02 PM

    THE CHAIR

    THE GENTLELADY FROM NEW YORK IS RECOGNIZED FOR THREE MINUTES.

  • 02:40:04 PM

    MRS. MALONEY

    I THANK THE RANKING MEMBER FOR YIELDING AND FOR HER LEADERSHIP ON THIS…

    I THANK THE RANKING MEMBER FOR YIELDING AND FOR HER LEADERSHIP ON THIS COMMITTEE AND ON THIS LEGISLATION. AND I RISE TODAY IN OPPOSITION TO H.R. 1675. IT WOULD CURTAIL THE EXISTING REGULATORY STRUCTURE, PROTECTING INVESTORS. WHILE THIS PACKAGE INCLUDES BILLS THAT I HAVE SUPPORTED, INCLUDING THE E.T.F. RESEARCH BILL, WHICH SIMPLY ALLOWS MORE RESEARCH ON A FAST GROWING MARKET. ULTIMATELY, I HAVE TO OPPOSE THIS PACKAGE BECAUSE IT WOULD ROLL BACK THE PROGRESS THAT WE'VE MADE IN MANY AREAS, INCLUDING ON XBRL. AND I RISE IN OPPOSITION TO THE PRIOR SPEAKER'S -- FROM THE GREAT STATE OF VIRGINIA, REALLY, ONE OF THE GREAT REPUBLICANS ON THE COMMITTEE, BUT I OPPOSE VERY MUCH HIS BILL THAT WOULD ROLL BACK XBRL AND WOULD ALLOW ROUGHLY 60% OF THE ALL PUBLIC COMPANIES TO OPT OUT OF THE REQUIREMENT TO USE XBRL. I BELIEVE THAT THIS WOULD HURT THE OVERALL ECONOMY, THE LIQUIDITY OF THE MARKETS AND THE INFORMATION THAT INVESTORS ARE ABLE TO GAIN AND GATHER. I'M A BIG SUPPORTER OF XBRL, WHICH ALLOWS COMPANIES TO FILE THEIR FINANCIAL STATEMENTS IN A COMPUTER READABLE FORMAT. XBRL MAKES IT POSSIBLE FOR INVESTORS AND ANALYSTS TO QUICKLY DOWNLOAD STANDARDIZED FINANCIAL STATEMENTS FOR AN ENTIRE INDUSTRY. DIRECTLY TO A SPREADSHEET AND IMMEDIATELY START MAKING CROSS-COMPANY COMPARISONS IN ORDER TO IDENTIFY THE BEST PERFORMERS. I WOULD ARGUE THAT THIS WOULD INCREASE THE AMOUNT OF INVESTMENT IN STARTUPS AND SMALL BUSINESSES. THIS WOULD ENABLE INVESTORS TO MORE EASILY IDENTIFY THE COMPANIES THAT ARE DIAMONDS IN THE ROUGH, SO TO SPEAK, AND VERY OFTEN THESE ARE SMALL COMPANIES THAT HAVE INNOVATIVE BUSINESS MODELS BUT HAVE TROUBLE ATTRACTING THE ATTENTION OF ANALYSTS AND INSTITUTIONAL INVESTORS. ONE REASON IS IT'S SIMPLY TOO TIME CONSUMING FOR ANALYSTS AND INVESTORS TO PICK THROUGH EVERY COMPANY'S HUNDRED-PAGE FINANCIAL FIGESFILINGSE. A SMALL COMPANY'S FILINGS MAY TELL A AN INCREDIBLE -- TELL AN INCREDIBLE STORY OF WHY THEY ARE THE NEXT APPLE OR GOOGLE. SOMETIMES THAT INVESTOR MAY NEVER SEE THEM AND THAT COMPANY WON'T GET THE CAPITAL INFUSION THAT IT NEEDS TO GROW AND OUR ECONOMY WILL NOT REALIZE THE BENEFITS THAT COMPANY HAS TO OFFER. THAT'S WHERE XBRL COMES IN. IT DRAMATICALLY REDUCES THE SEARCH COSTS BY MAKING IT FAST AND CHEAP FOR INVESTORS TO GATHER STANDARDIZED FINANCIAL STATEMENTS FOR ENTIRE INDUSTRIES. INCLUDING THE SMALL BUSINESSES THAT THE INVESTOR WOULDN'T HAVE BOTHERED WITH BEFORE. SO IF YOU WANT TO IMPROVE SMALL COMPANIES' ACCESS TO CAPITAL, ROLLING BACK XBRL IS THE LAST THING YOU'D WANT TO DO. I BELIEVE THAT WE SHOULD BE MOVING FORWARD, NOT BACKWARD, ON XBRL. WE'RE ALREADY FAR BEHIND THE REST OF THE DEVELOPED WORLD IN USING STRUCTURED DATA. AND I RISE IN OPPOSITION.

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  • 02:43:40 PM

    MS. WATERS

    AN ADDITIONAL ONE MINUTE, TWO MINUTES.

  • 02:43:45 PM

    MRS. MALONEY

    ONE MINUTE.

  • 02:43:47 PM

    THE CHAIR

    THE GENTLELADY IS RECOGNIZED FOR ONE MINUTE.

  • 02:43:51 PM

    WE SHOULD THINK HARD ABOUT AN ISSUE BEFORE WE TAKE AWAY A TOOL THAT…

    WE SHOULD THINK HARD ABOUT AN ISSUE BEFORE WE TAKE AWAY A TOOL THAT LITERALLY BENEFITS BOTH INVESTORS AND SMALL COMPANIES. UNFORTUNATELY, THAT'S WHAT THIS BILL WOULD DO. INSTEAD OF MOVING FORWARD ON XBRL AND MAKE IT EVEN MORE USEFUL FOR ANALYSTS AND INVESTORS, THE BILL WOULD ALLOW ROUGHLY 60% OF ALL PUBLIC COMPANIES TO OPT OUT OF THE REQUIREMENTS TO USE XBRL. THIS WOULD EFFECTIVELY TAKE OUR CAPITAL MARKETS BACK TO THE 20TH CENTURY, SO I URGE MY COLLEAGUES TO OPPOSE THIS BILL WHICH BENEFITS INVESTORS AND I WOULD SAY THE OVERALL ECONOMY. I RESERVE THE BALANCE OF MY TIME AND YIELD IT BACK TO THE RANKING MEMBER. IF THERE'S ANY LEFT. ANYWAY, I URGE A NO VOTE FROM MY COLLEAGUES.

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  • 02:44:37 PM

    THE CHAIR

    THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED FOR THE REMAINDER OF THE TIME.

  • 02:44:42 PM

    MS. WATERS

    I'LL RESERVE THE BALANCE OF MY TIME.

  • 02:44:45 PM

    THE CHAIR

    THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS.

  • 02:44:47 PM

    MR. HENSARLING

    MR. CHAIRMAN, I'M NOW PLEASED TO YIELD THREE MINUTES TO THE CHAIRMAN ON…

    MR. CHAIRMAN, I'M NOW PLEASED TO YIELD THREE MINUTES TO THE CHAIRMAN ON THE MONETARY POLICY AND TRADE SUBCOMMITTEE OF THE FINANCIAL SERVICES COMMITTEE AND THE AUTHOR OF TITLE 3 OF THIS ACT, MR. HUIZENGA.

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  • 02:44:59 PM

    THE CHAIR

    THE GENTLEMAN FROM MICHIGAN IS RECOGNIZED FOR THREE MINUTES.

  • 02:45:03 PM

    MR. HUIZENGA

    THANK YOU, MR. SPEAKER. I RISE TODAY TO ALERT THE AMERICAN PEOPLE, WE HAVE…

    THANK YOU, MR. SPEAKER. I RISE TODAY TO ALERT THE AMERICAN PEOPLE, WE HAVE A RED HERRING ALERT, ALL RIGHT. THIS IS -- THIS IS A LEGISLATIVE EQUIVALENT TO AN AMBER ALERT BECAUSE WE HAVE FOLKS WHO TALK A GOOD GAME BEHIND CLOSED DOORS, WHO COME OUT HERE, THOUGH, IN THE LIGHT OF DAY AND DO SOMETHING VERY DIFFERENT AND THEY'RE MISSING. THEY'RE MISSING IN ACTION FROM SOLVING THE PROBLEM. AND THIS RED HERRING ALERT IS VERY -- I THINK VERY DISTURBING, AND WE INSTEAD ARE SEEING TODAY TRUMPED UP ATTACKS ON COMMONSENSE REFORMS THAT NEED TO HAPPEN, THAT MANY PEOPLE WILL BEHIND CLOSED DOORS AGREE NEEDS TO HAPPEN. AND IN MY PARTICULAR CASE WITH THE SECTION 3, WE HAVE A NO-ACTION LETTER, ALL RIGHT, PUT OUT BY THE S.E.C. THAT THOSE ON THE OTHER SIDE OF THE AISLE SAY, WE DON'T NEED TO DO ANYTHING. THE S.E.C.'S TAKING CARE OF IT. PROBLEM IS IT TOOK YEARS FOR THE S.E.C. TO EVEN ADDRESS THE ISSUE, AND APPARENTLY WHAT'S GOOD ENOUGH FOR A NO-ACTION LETTER SHOULD BE GOOD ENOUGH FOR THE LAW. . THEY KNOW FULL WELL MANY OF THE THINGS WE ARE TRYING TO ADDRESS IN H.R. 1675 ARE COMING FROM UNINTENDED CONSEQUENCES. I WOULD JUST SAY THIS IMPORTANT PIECE OF LEGISLATION IS A PACKAGE OF BIPARTISAN IDEAS DESIGNED TO HELP MAIN STREET BUSINESSES PROMOTE JOB CREATION AND ECONOMIC GROWTH. THE SECOND DISTRICT OF MICHIGAN, WEST MICHIGAN, IS FULL OF THESE TYPES OF FAMILY-OWNED COMPANIES. AND, MR. SPEAKER, SMALL BUSINESSES, PRIVATE COMPANIES, ENTREPRENEURS NEED ACCESS TO CAPITAL BUT BURDENSOME NEEDLESS REGULATIONS OUT OF WASHINGTON AND THE S.E.C. HAVE CREATED BARRIERS TO THAT INVESTMENT CAPITAL. MAIN STREET SMALL BUSINESSES ARE THE HEART AND SOUL OF OUR NATION. IN FACT, THEY HAVE CREATED A MAJORITY OF THE NATION'S NEW JOBS OVER THE LAST COUPLE OF DECADES. SO WHAT DOES THAT MEAN? IT'S NOT THE BIG MAJOR COMPANIES THAT ARE CREATED THOSE JOB OPPORTUNITIES. IT'S OUR SMALL INNOVATIVE COMPANIES THAT ARE. FOR THESE SMALL BUSINESSES TO SURVIVE AND THRIVE IN A HEALTHY, GROWING ECONOMY, WE MUST REDUCE BARRIERS TO CAPITAL, ENCOURAGE SMALL BUSINESS GROWTH WITH SMALL BUSINESS ENTREPRENEUR, WITHOUT PUTTING THE TAXPAYER OR THE ECONOMY AT RISK. H.R. 1675 DOES EXACTLY THAT. THIS COMPILATION OF BIPARTISAN REGULATORY RELIEF PROVISIONS WILL ENSURE THAT MAIN STREET BUSINESSES CONTINUE TO HAVE ACCESS TO THE CAPITAL THEY NEED TO GROW THE ECONOMY AND CREATE NEW JOBS. MR. SPEAKER, I URGE A YES VOTE ON H.R. 1675. YOU NEED TO IGNORE THE RED HERRINGS THAT ARE GETTING THROWN OUT THERE. THE CAPITAL MARKETS NEED TO HAVE THESE REFORMS. I LOOK FORWARD TO WORKING WITH MY SENATE COLLEAGUES TO SEE H.R. 1675 MAKE ITS WAY TO PRESIDENT OBAMA'S DESK FOR HIS SIGNATURE. WITH THAT I YIELD BACK THE BALANCE OF MY TIME.

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  • 02:48:02 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK. THE GENTLELADY FROM CALIFORNIA.

  • 02:48:06 PM

    MS. WATERS

    FROM ILLINOIS, A TRUE PROGRESSIVE CHAMPION, MS. SCHAKOWSKY.

  • 02:48:12 PM

    THE CHAIR

    THE GENTLELADY FROM ILLINOIS IS RECOGNIZED.

  • 02:48:14 PM

    MS. SCHAKOWSKY

    I RISE IN OPPOSITION TO H.R. 1675, THE ENCOURAGING EMPLOYEE OWNERSHIP ACT.…

    I RISE IN OPPOSITION TO H.R. 1675, THE ENCOURAGING EMPLOYEE OWNERSHIP ACT. AS A YOUNG HOUSEWIFE IN SUBURBAN CHICAGO, I JOINED A HANDFUL OF WOMEN IN A SUCCESSFUL CAMPAIGN TO GET FRESHNESS DATES ON GROCERY PRODUCTS. AT THE TIME EXPIRATION DATES WERE CODED. THE STORES KNEW, THE CONSUMERS WERE IN THE DARK ABOUT WHETHER THE MILK THEY WERE BUYING HAD BEEN ON THE SHELF TOO LONG. AND GETTING THAT INFORMATION WAS REALLY IMPORTANT. IT GAVE US THE FACTS AND THE POWER TO MAKE THE RIGHT FOOD CHOICES FOR OUR FAMILIES. AND GETTING INFORMATION ABOUT OUR STOCKS, WHETHER THOSE STOCKS ARE IN THE FORM OF COMPENSATION OR INVESTMENTS IS EQUALLY IMPORTANT. AGAIN, INFORMATION IS POWER. THE KEY TO BEING ABLE TO PROTECT THE FINANCIAL WELL-BEING OF OUR FAMILIES. SIMPLY, WORKERS DESERVE TO KNOW THE VALUE OF THE STOCKS THEY ARE RECEIVING INSTEAD OF WAGES. WE ARE LIVING IN A TIME OF SERIOUS WAGE STAGNATION, AND ACCORDING TO THE NATIONAL EMPLOYMENT LAW PROJECT, REAL HOURLY WAGES WERE 4% LOWER ON AVERAGE IN 2014 THAN IN 2009. SO IT'S IMPORTANT FOR WORKERS WHO ARE OFFERED STOCK COMPENSATION TO HAVE ACCURATE DATA ABOUT THE VALUE OF THOSE STOCKS. SIMILARLY, WE ARE EXPERIENCING A REAL RETIREMENT SECURITY CRISIS. MEDIAN SAVINGS FOR ALL WORKING HOUSEHOLDS IS $2,500. FOR RETIREMENT. FOR THOSE NEAR RETIREMENT IT'S $14,500. NOT A HECK OF A LOT OF MONEY SAVED FOR RETIREMENT. SO WE NEED TO ENCOURAGE INVESTMENT. BUT IF WE WANT AMERICANS TO INVEST, WE NEED TO GIVE THEM INFORMATION. THEY NEED TO BE ABLE TO JUDGE THE RISKS AND MAKE WISE DECISIONS. YET INSTEAD OF GIVING AMERICAN WORKERS OR INVESTOR MORE INFORMATION, H.R. 1675 WOULD GIVE THEM LESS. THIS BILL WOULD DOUBLE THE THRESHOLD THAT TRIGGERS DISCLOSURE OF INFORMATION TO WORKERS. IT WOULD REDUCE THE REQUIREMENTS FOR BROKER DEALERS TO BE ACCOUNTABLE FOR CERTAIN INFORMATION THAT THEY PROVIDE. IT WOULD MAKE IT HARDER TO FIND INFORMATION ON S.E.C. FILINGS, AND IT WOULD GIVE THE S.E.C. UNILATERAL POWER TO OVERTURN CONGRESSIONALLY ENACTED LAWS TO PROTECT INVESTORS. KNOWS ARE ALL REALLY BAD IDEAS, AND I THINK WE SHOULD VOTE NO ON 1675. I YIELD BACK.

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  • 02:50:58 PM

    THE CHAIR

    THE GENTLELADY YIELDS BACK. THE GENTLEMAN FROM TEXAS.

  • 02:51:01 PM

    MR. HENSARLING

    MAY I INQUIRE HOW MUCH TIME REMAINS ON BOTH SIDES?

  • 02:51:05 PM

    THE CHAIR

    THE GENTLEMAN HAS NINE MINUTES. THE GENTLELADY FROM CALIFORNIA HAS 9 1/2…

    THE GENTLEMAN HAS NINE MINUTES. THE GENTLELADY FROM CALIFORNIA HAS 9 1/2 MINUTES.

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  • 02:51:12 PM

    MR. HENSARLING

    I'M NOW VERY PLEASED TO YIELD THREE MINUTES TO THE GENTLEMAN FROM…

    I'M NOW VERY PLEASED TO YIELD THREE MINUTES TO THE GENTLEMAN FROM ARKANSAS, MR. HILL, THE AUTHOR OF TITLE 2 OF THE ACT.

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  • 02:51:22 PM

    THE CHAIR

    THE GENTLEMAN FROM ARKANSAS IS RECOGNIZED FOR THREE MINUTES.

  • 02:51:25 PM

    MR. HILL

    THANK YOU, MR. CHAIRMAN. MR. SPEAKER, THANK YOU. TODAY I RISE IN SUPPORT…

    THANK YOU, MR. CHAIRMAN. MR. SPEAKER, THANK YOU. TODAY I RISE IN SUPPORT OF H.R. 1675 AND PARTICULARLY WANT TO SPEAK ABOUT TITLE 2 WHICH IS CALLED THE FAIR ACCESS TO INVESTMENT RESEARCH ACT. WHICH I SPONSORED ALONG WITH MY FRIEND AND COLLEAGUE, MR. CARNEY, FROM DELAWARE. SINCE STARTING MY MOST RECENT INVESTMENT FIRM THAT I HAD BACK IN THE 1990'S BEFORE I CAME TO CONGRESS A YEAR AGO, I HAVE SEEN THE INVESTMENT CATEGORY EXCHANGE TRADED FUNDS, OR E.T.F.S, GROW FROM ABOUT 100 FUNDS WITH $100 BILLION IN ASSETS TO OVER $1,400 FUNDS WITH ALMOST $2 TRILLION IN ASSETS. A SIGNIFICANT INCREASE OVER THAT TIME. AND THEIR GROWING POPULARITY AND USE BY RETAIL INVESTORS AND SMALL INSTITUTIONAL INVESTORS, DESPITE THAT, MOST BROKER DEALERS IN THIS COUNTRY DO NOT PUBLISH RESEARCH ON E.T.F.S. AND PRIMARILY THE LACK OF THAT PUBLICATION IS DUE TO ANOMALIES IN THE SECURITIES LAWS AND REGULATIONS, AND THAT'S AT THE HEART OF WHAT WE ARE TALKING ABOUT HERE. IT'S AN IMPORTANT INVESTMENT CATEGORY. IT DESERVES RESEARCH. IT DESERVES MORE INFORMATION NOT LESS. SO TITLE 2'S MISSION IS SIMPLE. IT DIRECTS THE S.E.C. TO PROVIDE A SAFE HARBOR FOR RESEARCH REPORTS THAT COVER E.T.F.S. SO THAT THOSE REPORTS ARE NOW CONSIDERED -- NOT CONSIDERED OFFERS UNDER SECTION 5 OF THE SECURITIES ACT OF 1933. THEREFORE, E.T.F. RESEARCH IS JUST TREATED LIKE ALL OTHER STOCK CORPORATE RESEARCH. THIS IS A COMMONSENSE PROPOSAL AND IT MIRRORS OTHER RESEARCH SAFE HARBORS IMPLEMENTED BY THE S.E.C. WHICH CLARIFY THE LAW AND ALLOW BROKER DEALERS TO PUBLISH E.T.F. RESEARCH, ALLOWING INVESTORS MORE INFORMATION ABOUT THIS RAPIDLY GROWING AND IMPORTANT MARKET. FURTHER, THIS BILL HOLDS THE S.E.C. ACCOUNTABLE, A LARGE CHALLENGE BEFORE THE CONGRESS, TO FOLLOW OUR DIRECTION. THIS BILL REQUIRES THE S.E.C. TO FINALIZE RULES WITHIN 120 DAYS IF THEIR DEADLINE IS NOT MET AND INTERIM SAFE HARBOR WILL TAKE EFFECT UNTIL THE S.E.C. RULES ARE FINALIZED. AND I MIGHT ADD TO MY FRIENDS AT THE COMMISSION, THIS IS NOT A TOPIC UNFAMILIAR TO YOU. AS IT'S BEEN RAISED AT THE COMMISSION MANY TIMES, INCLUDING BY THE COMMISSION STAFF OVER THE PAST 17 YEARS, AND YET NO ACTION HAS HAPPENED. SO, WE ARE NO LONGER OUT AHEAD OF THE CURVE ON THIS TOPIC, WE ARE BEHIND IT. AS THERE'S SOME SIX MILLION U.S. HOUSEHOLDS CURRENTLY USING E.T.F.S IN THEIR INVESTMENT PORTFOLIOS AND THEY NEED ACCESS TO THIS RESEARCH. HAVING WORKED IN THE BANKING AND INVESTMENT INDUSTRY FOR THREE DECADES, I APPRECIATE CHAIRMAN HENSARLING AND CONGRESS' EFFORTS TO PROMOTE CAPITAL FORMERATION, REDUCE UNNECESSARY BARRIERS, PROVIDE SUNSHINE, PROVIDE INFORMATION TO OUR INVESTORS, AND BY DEFINITION GROW JOBS AND OUR ECONOMY. I WANT TO FINALLY THANK MR. CARNEY OF DELAWARE FOR WORKING WITH ME ON THIS PROJECT, BEING SO PATIENT ALONG ITS WAY IN THE LAST WEEKS. I YIELD BACK THE BALANCE OF MY TIME. THANK YOU.

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  • 02:55:00 PM

    THE CHAIR

    THE GENTLEMAN YIELD BACK. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

  • 02:55:04 PM

    BILL, HE SAID THIS IS A BAD BILL. AND IT INCLUDES IN THIS BILL A TOTAL OF…

    BILL, HE SAID THIS IS A BAD BILL. AND IT INCLUDES IN THIS BILL A TOTAL OF FIVE BAD BILLS. AS WE GO THROUGH EACH OF THESE BILLS, WE CANNOT HELP BUT WONDER WHY ANY PUBLIC POLICY LAKER WOULD WANT TO ENDANGER SMALL BUSINESSES AND INVESTORS IN THE WAY THAT THIS BILL DOES. ONE MUST ASK ONESELF WHY, WHY WOULD ANY ELECTED OFFICIAL WANT TO ELIMINATE FINANCIAL DISCLOSURES FOR EMPLOYEES REGARDING THEIR STOCK COMPENSATION. WHY WOULD YOU WANT TO DO THAT? WHY DON'T YOU WANT EMPLOYEES TO KNOW WHAT THEY ARE BEING GIVEN? WHY DON'T YOU WANT EMPLOYEES TO UNDERSTAND THAT THIS STOCK THAT THEY HAVE BEEN GIVEN MAY OR MAY NOT BE WORTH THE PAPER THAT IT'S WRITTEN ON? WHY WOULD WE WANT TO KEEP THIS INFORMATION AWAY FROM THEM? AS IT WAS STATED BY THE GENTLELADY FROM ILLINOIS, SHE SAID BASICALLY THAT MANY OF THESE COMPANIES ARE NOT INCREASING WAGES. AS A MATTER OF FACT WE HAVE STAGNATION IN WAGES IN THIS CONTRY. AND ALL -- COUNTRY. IN ALL OF THE MAJOR COMPANIES, FOR EXAMPLE. SO WHAT IS HAPPENING IS THESE EMPLOYEES BELIEVE THAT WHEN THEY HAVE BEEN GIVEN STOCK INSTEAD OF A RAISE, THEN MAYBE THEY HAVE SOMETHING VALUABLE. BUT THEY NEED TO KNOW WHAT THEY ARE GETTING. THEY NEED TO KNOW EXACTLY WHAT THEIR COMPANY IS HOLDING OUT TO THEM IS VALUABLE. I RAISE THE QUESTION, WHY WOULD ANY PUBLIC POLICYMAKER WANT TO KEEP THIS INFORMATION FROM EMPLOYEES? FURTHER, YOU KNOW, THE OPPOSITE SIDE OF THE AISLE ALWAYS TALK ABOUT THEY ARE FOR DEALING WITH CRIME. THAT THEY ARE ABOUT CRIMINAL JUSTICE. BUT HERE THEY ARE ALLOWING BAD ACTORS TO ENGAGE IN SMALL BUSINESS MERGERS AND ACQUISITIONS. I'M TALKING ABOUT PEOPLE WHO HAVE BEEN CONVICTED. I'M TALKING ABOUT PEOPLE WHO YOU HAVE ADMINISTRATIVE ORDERS AGAINST. I'M TALKING ABOUT SWINDLERS. I'M TALKING ABOUT BAD PEOPLE WILL BE ALLOWED BY THIS BILL TO ENGAGE IN SMALL BUSINESS MERGING ACQUISITION. I DON'T UNDERSTAND IT AND I DON'T KNOW WHY. BUT INCREASINGLY THE PEOPLE OF THIS COUNTRY ARE LOOKING AT THE MEMBERS OF CONGRESS AND THEY ARE SAYING THEY ARE NOT WITH US , THEY ARE AGAINST US. WE DON'T HAVE ANYBODY THAT'S REALLY PROTECTING OUR INTEREST. AND MORE AND MORE IT'S BEING DISCUSSED. AND THEY ARE FINALLY GETTING ON TO IT THAT SOMEHOW TOO MANY OF THE MEMBERS OF CONGRESS ARE SIDING WITH THE BIG GUYS, SIDING WITH THE LARGE CORPORATIONS, WITH THE BIG BANKS, AND NOT LOOKING OUT FOR THE INTEREST OF THE PEOPLE. AND THEY WANT TO KNOW WHY. WELL, AGAIN TITLE 3 OF THIS BILL WOULD SIGNIFICANTLY EXPAND AN EXEMPTION FOR REGISTRATION GRANTED BY THE S.E.C. TO CERTAIN MERGERS AND ACQUISITION BROKERS WHO DEAL WITH SMALL BUSINESSES WITHOUT PROVIDING SIGNIFICANT PROTECTIONS FOR THOSE BUSINESSES OR INVESTORS. LAST CONGRESS WHEN WE CONSIDERED THIS EXEMPTION IT WAS MEANT TO PROMPT ACTION BY THE S.E.C. TO FINALIZE ITS NO ACTION LETTER, TO EXEMPT THESE MERGER AND ACQUISITION BROKERS FROM REGISTRATION. TWO WEEKS AFTER THAT BILL PASSED THE HOUSE FLOOR, THE S.E.C. GRANTED RELIEF. AND YET YOU WOULDN'T KNOW IF -- IF IF YOU READ THIS BILL. THIS BILL IGNORES THAT RELIEF AND WORSE, INEXPOLITICABLY OMITS EIGHT OF THE IMPORTANT INVESTOR PROTECTION THAT IS IT INCLUDES. AS A RESULT IT WOULD ALLOW AGAIN THESE BAD ACTORS. THESE CHEATERS. THESE PEOPLE WHO COMMIT FRAUD. THESE SCAMMERS. TO USE THIS EXEMPTION PROVIDING THEM WITH THE OPPORTUNITY JUST TO SWINDLE OUR SMALL BUSINESSES. YET THEY CLAIM THEY SUPPORT SMALL BUSINESS. YOU KNOW, IT'S FASHIONABLE TO SAY I'M FOR SMALL BUSINESS. EVERYBODY'S FOR SMALL BUSINESS. BUT WHEN YOU TAKE A LOOK AT WHAT WE DO, YOU CAN DETERMINE WHO'S FOR SMALL BUSINESS AND WHO REALLY FOR THE BIG BUSINESSES AND FOR THE SWINDLERS AND CHEATERS WHO ROB SMALL BUSINESSES OF THE OPPORTUNITY TO BE SUCCESSFUL. IT WOULD ALSO ALLOW BROKERS TO MERGE PUBLIC SHELL COMPANIES THAT HAVE NO ASSETS OF THEIR OWN. . EVEN SOME OF MY REPUBLICAN COLLEAGUES WHO WILL BE OFFERING AN AMENDMENT TO ADD IN THESE TWO PROTECTIONS ARE UNABLE TO JUSTIFY THE OMISSION. BUT MY FRIENDS ON THE OPPOSITE SIDE OF THE AISLE COMPLETELY IGNORE THE OTHER SIX INVESTOR PROTECTIONS. I'M NOT GOING TO GO ANY FURTHER WITH THAT, IT'S QUITE OBVIOUS, BUT LET ME SAY THIS. NOT ONLY DO WE HAVE THESE BAD BILLS WITH BAD PUBLIC P POLICY, WE HAVE A TRICK IN THE BILL AND THE TRICK ATTEMPTS TO TIE THE HANDS OF THE S.E.C. BY SAYING THEY NEED TO GO BACK TO 1934 AND REDO EVERYTHING THAT THEY HAVE DONE, ALL OF THESE REGULATIONS. YOU KNOW WHY THEY'RE DOING THAT? THE SAME REASON WHY THEY WON'T SUPPORT THEM GETTING ADDITIONAL FUNDING TO DO THEIR JOB. THEY WANT TO TIE THEIR HANDS SO THEY WON'T BE ABLE TO DO THE JOB THEY ARE SUPPOSED TO DO. AND SO WHEN WE CALL THESE BILLS BAD, WE'RE SIMPLY NOT SHARING WITH YOU SOME RHETORIC ABOUT SOME MEANINGLESS HARM THAT MAY COME BECAUSE OF THESE BILLS. WE'RE TELLING YOU THESE ARE HARMFUL BILLS. THESE ARE TRULY BAD BILLS AND I RESERVE.

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  • 03:01:37 PM

    THE CHAIR

    THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

  • 03:01:41 PM

    MR. HENSARLING

    I'M VERY PLEASED TO YIELD 2 1/2 MINUTES TO THE CHAIRMAN OF OUR CAPITAL…

    I'M VERY PLEASED TO YIELD 2 1/2 MINUTES TO THE CHAIRMAN OF OUR CAPITAL MARKETS SUBCOMMITTEE, THE GENTLEMAN FROM NEW JERSEY, MR. GARRETT.

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  • 03:01:53 PM

    THE CHAIR

    THE GENTLEMAN IS RECOGNIZED FOR 2 1/2 MINUTES.

  • 03:01:55 PM

    I COMMEND MR. HULTGREN AND MR. HILL AND ALL THE SPONSORS WHO HAVE WORKED…

    I COMMEND MR. HULTGREN AND MR. HILL AND ALL THE SPONSORS WHO HAVE WORKED SO HARD ON THE UNDERLYING LEGISLATION AND THE DEDICATION TO DOING WHAT? IMPROVING THE CAPITAL MARKETS AND CREATING JOBS. MR. SPEAKER, THE LAST DECADE HAS NOT REALLY BEEN KIND TO THE MIDDLE-CLASS AMERICAN AND LOWER CLASS AMERICANS WHERE PEOPLE ARE STRUGGLING TO THE 15TH OR END OF THE MONTH. WE HAVE NOT EXPERIENCED IN THIS COUNTRY A 3% G.D.P. SINCE 2005. MIDDLE-CLASS INCOME WAGES ARE BASICALLY STAGNATING AND THE NUMBER OF PEOPLE IN POVERTY HAS REACHED AN ASTONISHING 50 MILLION PEOPLE. DID YOU HEAR THAT? 50 MILLION PEOPLE DURING THE OBAMA ADMINISTRATION FIND THEMSELVES STILL IN POVERTY RIGHT NOW. YET THE ADMINISTRATION CONTINUES TO IF YOU LISTEN TO THEM AND OUR COMMITTEE MEETINGS FROM THE OTHER SIDE OF THE AISLE, THEY TOUT THE STRENGTH OF THE RECOVERY, DESPITE THE FACT THAT UNDER PRESIDENT OBAMA, ONLY IN THE RICH IN THIS COUNTRY HAVE GOTTEN RICHER AND THE POOR AND THE MIDDLE CLASS CONTINUE TO STRUGGLE. WE BRING A PACKAGE OF BILLS THAT WILL DO WHAT? IT WILL HELP SMALL BUSINESSES AND HELP PEOPLE GET NEW JOBS AND CREATE NEW HIRING AND CREATE THOSE HARDWORKING AMERICANS WHO WANT A BETTER JOB TO CREATE WEALTH IN THIS COUNTRY AND NOT JUST RELY ON TAXPAYER INCENTIVE SUING ARHIVES. AND SO WHAT DO WE HAVE RIGHT NOW? WE HAVE FIVE BILLS. MR. HULTGREN'S LEGISLATION THAT WILL HELP AMERICANS BY GIVING THEM MORE CHANCE TO DO WHAT? INVEST THEIR MONEY. AND WE HAVE BEEN HOLDING THE S.E.C. ACCOUNTABLE AND HOLD THEM ACCOUNTABLE AND REDUCE WASHINGTON'S UNNECESSARY BURDENS ON SMALL PUBLIC COMPANIES AND ANOTHER BILL TO MAKE IT EASIER FOR SMALL BUSINESSES TO RECEIVE ADVICE FROM PROFESSIONALS AND WE HAVE MR. HILL'S BILL TO ALLOW INVESTORS GREATER ACCESS TO RESEARCH ON FUNDS BEFORE INVESTING. WE HAVE NOT A SINGLE ONE OF THESE PROVISIONS WILL GROW THE BUREAUCRACY. NOT A SINGLE ONE OF THESE PROVISIONS WILL THROW TAXPAYER DOLLARS IN HOPES IT WILL SOLVE A PERCEIVED PROBLEM OUT THERE. AND NOT A SINGLE ONE OF THESE PROVISIONS INCLUDE ANY NEW FEDERAL MANDATES ON THE JOB CREATORS OF THIS COUNTRY. SMALL BUSINESSES. EACH AND EVERY ONE OF THESE IS A POSITIVE SOLUTION. AND AS AN ADDED BONUS, THEY HAVE THE BENEFIT OF BEING BIPARTISAN. I THANK ALL THE SPONSORS FOR THEIR SUPPORT AND URGE MY COLLEAGUES TO SUPPORT H.R. 1675.

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  • 03:04:46 PM

    THE CHAIR

    THE GENTLEMAN'S TIME HAS EXPIRED. THE GENTLEWOMAN FROM CALIFORNIA IS…

    THE GENTLEMAN'S TIME HAS EXPIRED. THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

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  • 03:04:51 PM

    MS. WATERS

    I RESERVE THE BALANCE OF MY TIME.

  • 03:04:57 PM

    THE CHAIR

    THE GENTLEWOMAN FROM RESERVINGS. THE GENTLEMAN FROM TEXAS.

  • 03:05:07 PM

    THE SPEAKER PRO TEMPORE

    3 1/2 MINUTES AVAILABLE TO THE GENTLEMAN FROM TEXAS AND 3 MINUTES…

    3 1/2 MINUTES AVAILABLE TO THE GENTLEMAN FROM TEXAS AND 3 MINUTES AVAILABLE TO THE GENTLEWOMAN FROM CALIFORNIA.

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  • 03:05:16 PM

    MR. HENSARLING

    AT THIS TIME, I'M PLEASED TO YIELD A MINUTE AND A HALF TO THE GENTLELADY…

    AT THIS TIME, I'M PLEASED TO YIELD A MINUTE AND A HALF TO THE GENTLELADY FROM ARIZONA, THE DEMOCRAT CO-SPONSOR OF TITLE 5 OF THE ACT.

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  • 03:05:34 PM

    MS. SINEMA

    THANK YOU FOR INCLUDING LEGISLATION. AND THANK YOU TO CONGRESSMAN HURT FOR…

    THANK YOU FOR INCLUDING LEGISLATION. AND THANK YOU TO CONGRESSMAN HURT FOR WORKING ACROSS THE AISLE TO ADVANCE THIS COMMONSENSE MEASURE. BUSINESS OWNERS TELL ME THAT OUR INEFFICIENT AND CONFUSING REGULATORY ENVIRONMENT HURTS THEIR ABILITY TO GROW AND HIRE. THIS REQUIRES THE S.E.C. TO IMPROVE AND REPEAL OUTDATED REGULATIONS, HOLDING THEM ACCOUNTABLE AND PROVIDING BUSINESSES AND CONSUMERS IN ARIZONA. THIS BILL REQUIRES THE S.E.C. TO WITHIN FIVE YEARS OF ENACTMENT REVIEW ALL SIGNIFICANT S.E.C. RULES AND DETERMINE BY COMMISSIONED VOTE WHETHER THEY ARE OUTMODED, INEFFECTIVE OR BURDENSOME OR NO LONGER IN THE PUBLIC INTEREST TO PROTECT INVESTORS, FACILITATE CAPITAL FORMATION AND MAINTAIN FAIR, ORDERLY AND EFFICIENT MARKETS. THE COMMISSION WOULD BE REQUIRED TO PROVIDE NOTICE AND SOLICIT PUBLIC COMMENT ON WHETHER SUCH RULES SHOULD BE AMENDED OR REPEAL AND AMEND AND REPEAL ANY SUCH RULE BY VOTE. FINALLY, THE COMMISSION WOULD REPORT TO CONGRESS WITHIN 45 DAYS AFTER ANY FINAL VOTE INCLUDING ANY SUGGESTIONS FOR LEGISLATIVE CHANGES. THE BILL WOULD REQUIRE THE S.E.C. TO REVIEW MAJOR OR SIGNIFICANT RULES. IT WOULDN'T BE ALLOWED TO BE REPEALED. SHOULD THEY DETERMINE THAT LEGISLATION IS NECESSARY TO AMEND OR REPEAL A REGULATION, THE BILL REQUIRES THE COMMISSION TO INCLUDE IN THEIR REPORT TO CONGRESS RECOMMENDATIONS FOR SUCH LEGISLATION. AND FINALLY, THE BILL WOULD PREVENT ADDITIONAL LITIGATION BY CLARIFYING THAT THE INITIAL VOTE WOULD NOT BE SUBJECT TO JUDICIAL REVIEW. REVIEWING SIGNIFICANT RULES AT THE S.E.C. AS DIRECTED BY THE ADMINISTRATION'S EXECUTIVE ORDER IS A WORTH WHILE USE OF RESOURCES AND I HOPE MY COLLEAGUES JOIN ME IN SUPPORTING THIS BIPARTISAN LEGISLATION. THANK YOU FOR ADVANCING THIS IMPORTANT LEGISLATION.

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  • 03:07:34 PM

    THE CHAIR

    THE GENTLEWOMAN'S TIME HAS EXPIRED. THE GENTLEWOMAN FROM CALIFORNIA…

    THE GENTLEWOMAN'S TIME HAS EXPIRED. THE GENTLEWOMAN FROM CALIFORNIA RESERVES. THE GENTLEMAN FROM TEXAS.

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  • 03:07:47 PM

    SINCE THE GENTLEMAN FROM NEW JERSEY TALKED ABOUT THE PRESIDENT AND BLAMED…

    SINCE THE GENTLEMAN FROM NEW JERSEY TALKED ABOUT THE PRESIDENT AND BLAMED HIM FOR EVERYTHING HE COULD THINK OF, THE ADMINISTRATION IS SENDING YOU A MESSAGE. THE ADMINISTRATION STRONGLY OPPOSES H.R. 1675 AMONG OTHER FLAWS. THIS BILL INCLUDES SEVERAL PROVISIONS THAT POSE RISK TO INVESTORS, ARE OVERLY BROAD AND ALLOW FINANCIAL INSTITUTIONS TO AVOID PROPER OVERSIGHT AND DUPLICATIVE ADMINISTRATIVE AUTHORITIES. THANK YOU, PRESIDENT OBAMA. H.R. 1675 IS ANOTHER REPUBLICAN ATTEMPT TO DEREGULATE WALL STREET DURING THE 114TH CONGRESS. NO, WE WILL NOT. WE HAVE SEEN TIME AND TIME AGAIN THAT REPUBLICANS WILL STOP AT NOTHING TO LAUNCH ATTACKS AT THE EXPENSE OF AMERICAN CONSUMERS AND TAXPAYERS IN ORDER TO HELP THE LARGEST WALL STREET BANKS. THIS BILL IS ANOTHER ONE OF THESE TACTICS. DURING THIS CONGRESS REPUBLIC CAST ON THE FINANCIAL SERVICES COMMITTEE HAVE TAKEN A NUMBER OF MEASURES TO UNDERMINE CONSUMERS, INVESTORS AND FINANCIAL STABILITY. SOME OF THE WORST EXAMPLES OF THIS INCLUDE CHANGE IN THE STRUCTURE OF THE CONSUMER FINANCIAL PROTECTION BUREAU. LADIES AND GENTLEMEN, THE REPUBLICANS HATE THE FINANCIAL CONSUMER PROTECTION BUREAU AND TRYING TO BOG IT DOWN IN PARTISAN GRIDLOCK AND FUNCTION. THEY NEVER WANTED TO CRE IT AND NOW WANT TO UNDERCUT IT. DEREGULATING BANKS BY MOVING THE ENHANCED STANDARDS ESTABLISHED BY THE DODD-FRANK ACT. THIS WOULD ALLOW LARGE BANKS TO ESCAPE BASIC RULES RELATED TO CAPITAL AND LEVERAGE ESTABLISHED AFTER THE CRISIS. ALLOWING DISCRIMINATORY MARKUPS ON AUTOMOBILE LOANS FOR RACIAL AND ETHNIC MINORITY BORROWERS. THEY WANT AUTO FINANCE COMPANIES TO GOUGE MINORITY CONSUMERS WITH INTEREST RATES MARKUPS EVEN WHEN THE CONSUMERS ARE EQUALLY CREDIT WORTHY COMPARED TO WHITE COUNTERPARTS. REMOVING CONSUMER PROTECTIONS ON MORTGAGES. THE REPUBLICANS WOULD REMOVE VITAL CONSUMER PROTECTIONS FROM THE RISKIEST MORTGAGE PRODUCTS SOLD BY THE LARGEST BANKS IN THIS COUNTRY. IT WOULD ALLOW MORTGAGE BROKERS TO GET HALF OF THEIR BORROWERS TO INTO EXPENSIVE PRODUCTS. ELIMINATING DODD-FRANK PROTECTIONS RELATING TO MANUFACTURED HOUSING LOANS ALLOWING CONSUMERS TO BE CHARGED SKY HIGH INTEREST RATES WITHOUT PROVIDING THEM HOUSING AND COUNSELING OR LEGAL RECOURSE. UNDERMINING THE FINANCIAL STABILITY OVERSIGHT COUNCIL, OUR CONSOLIDATED REGULATOR IN CHARGE OF MONITORING SYSTEMIC RISK AMONG THE FINANCIAL SYSTEM BY DOUBLING THE TIME IT WOULD TAKE TO DESIGNATE RISKY NONBANK COMPANIES FOR SUPERVISION. WE SHOULD NOT BE SURPRISED ABOUT THIS BILL TODAY. IT IS CONSISTENT WITH EVERYTHING THEY HAVE BEEN DOING IN ORDER TO PROTECT WALL STREET, THE BIGGEST -- THE BANKS THAT ARE TOO BIG TO FAIL. AND THIS AGAIN IS CONSISTENT WITH EVERYTHING THEY HAVE BEEN DOING.

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  • 03:11:06 PM

    THE CHAIR

    THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

  • 03:11:09 PM

    MR. HENSARLING

    HOW MUCH TIME DO I HAVE REMAINING?

  • 03:11:12 PM

    THE CHAIR

    TWO MINUTES.

  • 03:11:13 PM

    I YIELD MYSELF THE BALANCE OF THE TIME. MR. CHAIRMAN, I'M VERY PROUD OF…

    I YIELD MYSELF THE BALANCE OF THE TIME. MR. CHAIRMAN, I'M VERY PROUD OF THE FACT AS CHAIRMAN OF THE FINANCIAL SERVICES COMMITTEE THAT WE MOVE A LOT OF BIPARTISAN LEGISLATION. I TAKE GREAT PRIDE IN THAT, IT'S JUST SO RARE THAT THE RANKING MEMBER REFUSES TO BE PART OF IT. HERE WE HAVE MAJOR TITLES OF THIS BILL. TITLE 1 SUPPORTED 45-19. TITLE 2, PASSED 48-9 WITH DEMOCRAT SUPPORT. TITLE 3, 36-24. TITLE 4, 44-11. TITLE 5, 45-16. YET ANOTHER BIPARTISAN EXERCISE WHERE MEN AND WOMEN OF GOODWILL COME TOGETHER TO TRY TO WORK ON BEHALF OF THE WORKING FAMILIES OF AMERICA, YET AGAIN THE RANKING MEMBER AND OTHERS CLOSE TO HER CHOOSE TO NOT BE PART OF THIS. I WOULD ASK, MR. CHAIRMAN, HOW MANY MORE PEOPLE HAVE TO SUFFER IN THIS ECONOMY? WORKING FAMILIES ARE STRUGGLING. THEY'RE -- THEIR PAYCHECKS ARE LESS SINCE THE PRESIDENT CAME TO OFFICE SINCE WE HAVE HAD HAD EIGHT YEARS OF OBAMA NOMICS. WE HAVE TRIED IT THEIR WAY, MR. CHAIRMAN AND IT HAS FAILED. WHY DOES THE RANKING MEMBER AND OTHER DEMOCRATS CONTINUE THIS WAR ON SMALL BUSINESS? WE ARE LOSING OUR SMALL BUSINESSES. ENTREPRENEURSHIP IN AMERICA IS AT A GENERATIONAL LOW AND TRYING TO GIVE THEM A BIPARTISAN LIFELINE TO BRING A LITTLE LIFE INTO THESE SMALL BUSINESSES, TO ALLOW THEM TO CREATE MORE JOBS, BETTER CAREER PATHS SO THAT SO MANY PEOPLE DON'T STRUGGLE TO PAY THEIR MORTGAGES AND PAY THEIR HEALTH CARE PREMIUMS. THESE ARE MODEST CHANGES. I'M GLAD THAT A NUMBER OF DEMOCRATS HAVE DECIDED TO CROSS THE RANKING MEMBER AND WANT TO DO SOMETHING THAT IS COMMON SENSE, THAT WILL HELP SMALL BUSINESSES AND HELP THE STRUGGLING, WORKING PEOPLE IN AMERICA. AND I URGE ALL TO VOTE FOR THE ACT AND I YIELD BACK.

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  • 03:13:25 PM

    THE CHAIR

    THE GENTLEMAN'S TIME HAS EXPIRED. ALL TIME FOR GENERAL DEBATE HAS EXPIRED.…

    THE GENTLEMAN'S TIME HAS EXPIRED. ALL TIME FOR GENERAL DEBATE HAS EXPIRED. PURSUANT TO THE RULE THE BILL SHALL BE CONSIDERED FOR AMENDMENT UNDER THE FIVE MINUTE RULE AND SHALL BE ORDER TO BE CONSIDERED AS ORIGINAL BILL FOR AMENDMENT UNDER THE FIVE-MINUTE RULE THE AMENDMENT IN A NATURE OF A CONTEXT. AND THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE SHALL BE CONSIDERED AS READ. NO AMENDMENT TO THAT AMENDMENT IN THE NATURE OF A SUBSTITUTE SHALL BE IN ORDER EXCEPT THOSE PRINTED IN PART A OF 114-414. EACH SUCH AMENDMENT MAY BE OFFERED ONLY IN THE ORDER PRINTED IN THE REPORT BY A MEMBER DESIGNATED IN THE REPORT, SHALL BE CONSIDERED READ DEBATABLE EQUALLY CONTROLLED BY THE PROPONENT AND OPPONENT, SHALL NOT BE SUBJECT TO DEMAND FOR SUBJECT OF DIVISION OF THE QUESTION. IT IS IN ORDER TO CONSIDER AMENDMENT NUMBER 1. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION? MR. DESAULNIER; MR. CHAIRMAN, I HAVE AN AMENDMENT AT THE DESK.

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  • 03:14:24 PM

    THE CHAIR

    THE CLERK SHALL DESIGNATE THE AMENDMENT.

  • 03:14:27 PM

    THE CLERK

    114-414, OFFERED BY MR. DESAULNIER OF CALIFORNIA.

  • 03:14:37 PM

    THE CHAIR

    PURSUANT TO HOUSE RES. LIKE 595, THE CHAIR RECOGNIZES THE GENTLEMAN FROM…

    PURSUANT TO HOUSE RES. LIKE 595, THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA. MR. DESAULNIER; THIS IS A STRAIGHTFORWARD STUDY AMENDMENT THAT BUILDS ON POTENTIAL LINKS BETWEEN EMPLOYEE-OWNED CORPORATIONS AND SOCIAL BENEFIT CORPORATION. THIS AMENDMENT REQUIRES THE S.E.C. TO STUDY OVERLAPS BETWEEN EMPLOYEE-OWNED CORPORATIONS AND CORPORATIONS FORMED UNDER VARIOUS STATE LAWS. ALTERNATIVE CORPORATE FORMS ALLOW CORPORATIONS WITH THE CONSENT OF THEIR SHARE HOLDERS TO PURSUE SOCIAL AND ENVIRONMENTAL GOALS AS A FOR-PROFIT BUSINESS ENTERPRISE TO CONSIDER THE INTERESTS OF ALL THEIR STAKEHOLDERS, BENEFIT CORPORATIONS CAN HELP SOLVE SOCIAL AND ENVIRONMENTAL CHALLENGES THROUGH THEIR BUSINESS. BENEFIT CORPORATION STATUS AND OTHER CORPORATE FORMS ALLOW COMPANIES TO DIFFERENTIATE THEMSELVES AND APPEAL TO ALL CONSUMERS. ALTERNATIVE CORPORATE FORMS PROVIDE LEGAL PROTECTIONS THAT BENEFIT INNOVATORS, ENTREPRENEURS, INVESTORS AND CONSUMERS. THEY HAVE CREATED OPPORTUNITIES FOR INNOVATIONS IN CALIFORNIA WHICH ATRAGGETS CAPITAL INVESTMENT IN THE UNITED STATES. . . SOME OF THESE INCLUDE BENEFIT CORPORATION AND LOW PROFIT LIMITED LIABILITY COMPANIES. BENEFIT CORPORATIONS, THE MOST COMMON TYPE OF ALTERNATIVE CORPORATE FORM, ARE AUTHORIZED IN 30 STATES, INCLUDING IN THE DISTRICT OF COLUMBIA, AND ARE CURRENTLY BEING CONSIDERED IN FIVE MORE STATES. L-3-C'S ARE AUTHORIZED IN EIGHT STATES. MY AMENDMENT TODAY SIMPLY SEEKS TO IMPROVE THE AVAILABILITY OF DATA SO CONGRESS CAN EXPLORE CONNECTIONS BETWEEN EMPLOYEE-OWNED CORPORATIONS AND THESE INCREASINGLY POPULAR ALTERNATIVE CORPORATE FORMS. SPECIFICALLY, AGAIN, THIS AMENDMENT REQUIRES THE S.E.C. TO STUDY AND REPORT TO CONGRESS THE PRIVILEGE LANCE OF EMPLOYEE-OWNED OWNERSHIP PLANS WITHIN CORPORATIONS THAT ALSO INCLUDE FLEXIBLE OR SOCIAL BENEFIT COMPONENTS IN THEIR ARTICLE OF INCORPS RATION AS ALLOWED UNDER RELEVANT STATE LAWS. MR. CHAIRMAN, I URGE MY COLLEAGUES TO SUPPORT THIS COMMONSENSE AMENDMENT, TO IMPROVE OUR UNDERSTANDING OF EMPLOYEE-OWNED CORPORATIONS. AND I RESERVE THE BALANCE OF MY TIME.

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  • 03:16:56 PM

    THE CHAIR

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. FOR WHAT PURPOSE DOES THE…

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

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  • 03:17:02 PM

    MR. HENSARLING

    MR. CHAIRMAN, I RISE TO CLAIM TIME IN OPPOSITION.

  • 03:17:04 PM

    THE CHAIR

    THE GENTLEMAN IS RECOGNIZED FOR FIVE MINUTES.

  • 03:17:06 PM

    THANK YOU, MR. CHAIRMAN. I APPRECIATE THE GENTLEMAN'S AMENDMENT, BUT I…

    THANK YOU, MR. CHAIRMAN. I APPRECIATE THE GENTLEMAN'S AMENDMENT, BUT I FIND IT SOMEWHAT IRONIC WHEN I CONTINUE TO HEAR PLEAS FROM THE OTHER SIDE OF THE AISLE ON HOW TERRIBLY BURDENED THE S.E.C. IS AND HOW -- AND WHAT GREAT NEED THEY HAVE, THEY CAN'T MAKE DO WITH THE RESOURCES THAT THEY HAVE AND YET HERE IS A STUDY WHICH WOULD BE YET ANOTHER BURDEN ON THE S.E.C. SO, FIRST, MR. CHAIRMAN, I FIND THAT SOMEWHAT IRONIC. I DON'T FIND THAT THE GENTLEMAN'S AMENDMENT REALLY HAS ANYTHING TO DO WITH ENCOURAGING EMPLOYEE OWNERSHIP AT PRIVATELY HELD COMPANIES. BUT I GUESS WHAT REALLY DIS TUSHES ME, MR. CHAIRMAN, IS -- DISTURBS ME, MR. CHAIRMAN, IS THIS GOAL OR AGENDA OF MANY IS TO TAKE DISCLOSURE FROM THOSE ITEMS THAT WILL ENHANCE THE SHAREHOLDER VALUE, TO INSTEAD TAKING THIS INTO A DEBATE ABOUT SOCIAL VALUES. WE'RE A VERY DIVERSE COUNTRY AND THIS IS A GOOD THING. SO THERE MAY BE SOME INVESTORS WHO ARE INTERESTED IN COMPANIES THAT SUPPORT A PRO-LIFE POSITION, THERE MAY BE OTHERS WHO ARE INTERESTED IN A COMPANY THAT SUPPORTS A PRO-ABORTION POSITION. BUT THAT HAS VERY LITTLE TO DO WITH THE INVESTMENT RETURN THAT TO MOST AMERICAN FAMILIES IS WHAT THEY CARE ABOUT WHEN THEY WONDER IF THEY'RE GOING TO BE ABLE TO PAY FOR THEIR HOME MORTGAGE, PAY THEIR UTILITY BILL, SEND A KID TO COLLEGE. THERE ARE SOME PEOPLE IN AMERICA WHO SUPPORT THE SECOND AMENDMENT, THERE ARE SOME PEOPLE WHO DON'T. AGAIN, THERE IS A WIDE DIVERSITY OF SOCIAL ISSUES. AND FOR THOSE WHO WISH TO INVEST ALONG THOSE LINES IN A RELATIVELY FREE SOCIETY, THEY OUGHT TO BE ABLE TO DO THAT. AND IF THEY CAN'T GET THE INFORMATION THEY NEED FROM A CORPORATION, THEY HAVE A MULTITUDE OF INVESTMENT OPPORTUNITIES. IF THEY DON'T FEEL THEY'RE GETTING THE TYPE OF SOCIAL VALUE INFORMATION THEY NEED, THEY HAVE A VARIETY OF OPPORTUNITIES. SO I FEEL THAT THE GENTLEMAN FROM CALIFORNIA'S AMENDMENT LEADS US DOWN A ROAD THAT I THINK ULTIMATELY IS HARMFUL TO WORKING AMERICANS WHO ARE TRYING TO INVEST THEIR MEAGER SAVINGS IN ORDER TO MAKE ENDS MEET. I WOULD URGE THAT WE REJECT THE AMENDMENT THE. I RESERVE THE BALANCE OF MY TIME -- THE AMENDMENT. I RESERVE THE BALANCE OF MY TIME.

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  • 03:19:33 PM

    THE CHAIR

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

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  • 03:19:36 PM

    THANK YOU, MR. CHAIRMAN. TO THE CHAIRMAN, WHILE I RESPECT HIS…

    THANK YOU, MR. CHAIRMAN. TO THE CHAIRMAN, WHILE I RESPECT HIS UNDERSTANDING AND HIS YEARS OF WORK IN THIS FIELD, I THINK MY EXPERIENCE AS A NEW MEMBER COMING FROM A STATE LEGISLATURE THAT INVOLVED THE BUSINESS COMMUNITY IN DEVELOPING SOME OF THESE ALTERNATIVE FORMS, IT'S MERELY PROVIDING MORE INFORMATION FOR SHAREHOLDERS AND INVESTORS. THAT'S WHY WHEN WE DID IT IN CALIFORNIA, WE HAD BIPARTISAN SUPPORT, INCLUDING SUPPORT FROM THE BUSINESS COMMUNITY. SO THAT IS THE SPIRIT AT LEAST IN WHICH I'M ATTEMPTING THE AMENDMENT. I DON'T THINK IT WOULD BE FROM A COST-BENEFIT STANDARD VERY HARD FOR THE S.E.C. TO PROVIDE THIS INFORMATION TO CONGRESS. SO AS THESE FORMS CONTINUE TO MOVE THROUGHOUT STATE, WE HAVE A BETTER UNDERSTANDING. THAT'S THE PURPOSE AND THE SPIRIT OF THE AMENDMENT. SO WITH THAT I WILL YIELD BACK THE BALANCE OF MY TIME.

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  • 03:20:20 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. DOES THE GENTLEMAN FROM…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. DOES THE GENTLEMAN FROM TEXAS SEEK RECK -- RECOGNITION?

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  • 03:20:26 PM

    MR. HENSARLING

    I YIELD BACK THE BALANCE OF MY TIME.

  • 03:20:28 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE QUESTION IS ON THE…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM CALIFORNIA. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. IN THE OPINION OF THE CHAIR, THE NOES HAVE IT. THE AMENDMENT IS NOT AGREED TO.

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  • 03:20:38 PM

    MR. DESAULNIER

    COULD I ASK FOR THE YEAS AND NAYS, PLEASE.

  • 03:20:40 PM

    THE CHAIR

    PURSUANT TO CLAUSE 6 OF RULE 18, FURTHER PROCEEDINGS ON THE AMENDMENT…

    PURSUANT TO CLAUSE 6 OF RULE 18, FURTHER PROCEEDINGS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM CALIFORNIA WILL BE POSTPONED. IT IS NOW IN ORDER TO CONSIDER AMENDMENT NUMBER 2 PRINTED IN PART A OF HOUSE REPORT 114-414. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM MICHIGAN SEEK RECOGNITION?

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  • 03:20:59 PM

    MR. HUIZENGA

    MR. SPEAKER, I OFFER AN AMENDMENT.

  • 03:21:01 PM

    THE CHAIR

    THE CLERK WILL DESIGNATE THE AMENDMENT.

  • 03:21:03 PM

    THE CLERK

    AMENDMENT NUMBER 2 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY…

    AMENDMENT NUMBER 2 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY MR. HUE ZYNGA OF MICHIGAN -- MR. HIGH ZYNGA OF MICHIGAN -- MR. HUIZENGA OF MICHIGAN.

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  • 03:21:16 PM

    THE CHAIR

    THE GENTLEMAN AND A MEMBER OPPOSED EACH WILL CONTROL FIVE MINUTES. THE…

    THE GENTLEMAN AND A MEMBER OPPOSED EACH WILL CONTROL FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEMAN FROM MICHIGAN.

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  • 03:21:22 PM

    APPROXIMATELY $10 TRILLION, WITH A T, TRILLION, THAT'S 12 ZEROS, DOLLARS…

    APPROXIMATELY $10 TRILLION, WITH A T, TRILLION, THAT'S 12 ZEROS, DOLLARS WORTH OF SMALL PRIVATELY OWNED AND FAMILY OPERATED BUSINESSES WILL BE SOLD OR CLOSED IN THE COMING YEARS AS BABY BOOMERS RETIRE. MERGERS AND ACQUISITIONS OR M&A BROKERS AS THEY WERE OFTEN CALLED WILL PLAY A CRITICAL ROLE IN FACILITATING THE TRANSFER OF THESE -- OF OWNERSHIP OF THESE SMALL, PRIVATELY HELD COMPANIES. IF YOU WERE HERE EARLIER TODAY, YOU WOULD HAVE HEARD ME ISSUE A RED HERRING ALERT. WHILE THIS IS -- WELL, THIS IS EXHIBIT A. WHAT WE'RE DEALING WITH RIGHT NOW, AS TO WHAT THAT RED HERRING ALERT IS AS YOU'RE HEARING FROM MY COLLEAGUES ON THE OTHER SIDE OF THE AISLE. THIS IS EXHIBIT A. OF WHAT I USED TO USE AS AN EXAMPLE OF WASHINGTON WORKING. LAST CONGRESS I HAD THIS EXACT BILL AND IT PASSED -- PASSED THIS BODY UNANIMOUSLY. LET ME REPEAT THAT. UNANIMOUSLY. ZERO VOTES AGAINST IT. IT WENT ON SUSPENSION BILL. IT WENT ON SUSPENSION BECAUSE IT WAS NONCONTROVERSIAL. IT WAS AGREED THAT THIS WAS THE RIGHT DIRECTION TO GO. I UNFORTUNATELY NOW HAVE TO USE THIS BILL AND MY PORTION, THIS AMENDMENT, THAT WE'RE COMING IN AND DEALING WITH, I USE IT AS AN EXAMPLE OF HOW D.C. IS BROKEN. AND WE WONDER WHY THE AMERICAN PEOPLE ARE CYNICAL. WELL, LET'S GET TO THE HEART MASTER. WHY DO WE NEED TO DO THIS -- MATTER. WHY DO WE NEED TO DO THIS? WHY DO WE NEED TO ADDRESS THIS PARTICULAR ISSUE REGARDING THESE BROKERS? TODAY FEDERAL SECURITIES REGULATIONS REQUIRE AN M&A BROKER TO BE REGISTERED AND REGULATED BY THE SECURITIES AND EXCHANGE COMMISSION AND FINRA, JUST LIKE WALL STREET INVESTMENT BANKERS, SELLING OR BUYING PUBLICLY TRADED COMPANIES. LET'S GET THIS POINT CLEAR. THESE ARE NOT FOLKS ON WALL STREET. THESE ARE FOLKS IN MICHIGAN AND GRAND RAPIDS, MICHIGAN, AND CALIFORNIA AND TEXAS AND FLORIDA AND ANYWHERE ELSE THAT YOU ARE SELLING A SMALL FAMILY-OWNED BUSINESS. THAT'S RIGHT. ANYONE DEALING WITH A SALE OR BROKERING THE SALE OF A BUSINESS ANYWHERE IN AMERICA IS FORCED TO REGISTER WITH THE FEDERAL GOVERNMENT AND REGULATED AS A SECURITIES, QUOTE, BROKER DEALER. REGARDLESS OF THE SIZE OF THE BUSINESS OR THE SALE OF TRANSACTION. THIS RED TAPE IS OF COURSE IN ADDITION TO THE STATE LAWS THAT ALREADY REGULATE THESE TRANSFERS. HOW DID WE GET HERE? THIS BILL CORRECTS AN UNINTENDED CONSEQUENCE OF A 1985 SUPREME COURT RULING THAT OVERTURNED A LOWER COURT THAT CREATED, QUOTE, THE SALE OF A BUSINESS DOCTRINE. PRIOR TO THAT DECISION, PRIVATELY -- PRIVATE COMPANY SALES FROM -- I'M SORRY, PRIVATE COMPANY SALES WERE EXEMPTED FROM FEDERAL REGULATION. AND SINCE 1985, THE S.E.C. HAS ISSUED MANY NONACTION OR NO-ACTION LETTERS THAT UNDER VARIOUS BUT DIFFERING FACTUAL CIRCUMSTANCES HAVE GRANTED RELIEF FOR M&A BROKERS. HOWEVER, THE OTHER SIDE'S NOT WILLING TO ACTUALLY PUT IT INTO LAW. SO, LET'S BE CLEAR. H.R. 1675, TITLE 3, DOES NOT DO AWAY AND DOES NOT CHANGE IN ANY WAY, EFFECT OR LIMIT THE S.E.C.'S JURISDICTION OR POWERS TO INVEST -- TO INVESTIGATE AND ENFORCE FEDERAL SECURITIES LAWS. RATHER, IT SIMPLY EXEMPTS M&A BROKERS FROM S.E.C. REGISTRATION AS A BROKER DEALER. WHICH MAKES THE TRANSFER OF THESE SMALL FAMILY-OWNED BUSINESSES AFFORDABLE. IN FACT, WHAT DO YOU DO WHEN YOU OWN A SMALL FAMILY BUSINESS? I OWN ONE. IF I'M ABLE TO SAVE MONEY ON ONE SIDE, I'M ABLE TO INVEST IT INTO MY EMPLOYEES, INTO THE EQUIPMENT THAT'S IN MY BUSINESS. WELL, FEDERAL SECURITIES REGULATION IS PRIMARILY DESIGNED TO PROTECT PASSIVE INVESTORS AND PUBLIC SECURITY MARKETS. PASSIVE INVESTORS ARE PEOPLE LIKE YOU AND I WHO MIGHT JUST BUY A SHARE IN A COMPANY SOMEWHERE. PRIVATELY NEGOTIATED M&A TRNS TRANSACTIONS ARE VASTLY DIFFERENT AND BENEFIT LITTLE FROM S.E.C. AND FINRA REGISTRATION AND REGULATION BUT ARE BURDENED BY THE SAME REGULATORY REQUIREMENTS, OBLIGATIONS AND ASSOCIATED COSTS. M&A BROKERS THEMSELVES ARE SMALL BUSINESSES. TITLE 3 OF H.R. 1675 INCLUDES MY BIPARTISAN LEGISLATION, H.R. 686, THE SMALL BUSINESS MERGERS ACQUISITION SALES AND BROKERAGE SIMPLIFICATION ACT, WHICH WOULD CREATE A SIMPLIFIED SYSTEM FOR BROKERS, FACILITATING THE TRANSFER OF OWNERSHIP OF SMALL, PRIVATELY HELD COMPANIES. YES, IT WAS A BIPARTISAN BILL THAT PASSED OUR COMMITTEE. MY AMENDMENT WOULD FURTHER CLARIFY TWO THINGS. FIRST, ANY BROKER OR ASSOCIATED PERSON WHO IS SUBJECT TO SUSPENSION OR REVOCATION OF REGISTRATION IS DISQUALIFIED FROM THE EXEMPTION. SO, IN OTHER WORDS, IF YOU'RE A BAD ACTOR, YOU'RE EXEMPTED. YOU ARE NOT ALLOWED TO TAKE PART IN THIS. SECOND, THE INABILITY OF THE EXEMPTION TO M&A TRNS ANGST -- TRANSACTION, WHERE ONE PARTY OR MORE IS A SHE'LL COMPANY. WE HEARD -- SHELL COMPANY. WE HEARD THAT BROUGHT UP AS A REASON WE SHOULDN'T BE DOING THIS. WE AGAIN OFFER AN EXEMPTION. IF THERE IS A SHELL COMPANY, THAT'S NOT ALLOWED TO BE USED. BY INCLUDING THESE ADDITIONAL INVESTOR PROTECTIONS, MAY I REPEAT THAT, ADDITIONAL INVESTOR PROTECTIONS, THIS AMENDMENT STRIKES AN APPROPRIATE BALANCE BETWEEN THE LEGITIMATE INTERESTS OF ALL STAKEHOLDERS AND MAINTAIN STRONG PROTECTIONS FOR INVESTORS AND SMALL BUSINESSES. TODAY, MR. SPEAKER, I JUST HOPE THAT WE WILL SEEK SOME COMMON SENSE, WHETHER HE NOT CHASE AFTER THE RED HERRINGS THAT -- WE WILL NOT CHASE AFTER THE RED HERRINGS THAT ARE BEING THROWN OUT THERE AND WE WILL SUPPORT THIS. I YIELD BACK.

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  • 03:26:49 PM

    THE CHAIR

    THE GENTLEMAN'S TIME HAS EXPIRED. FOR WHAT PURPOSE DOES THE GENTLEWOMAN…

    THE GENTLEMAN'S TIME HAS EXPIRED. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM CALIFORNIA SEEK RECOGNITION?

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  • 03:26:54 PM

    MS. WATERS

    I RISE IN OPPOSITION TO THE AMENDMENT, EVEN THOUGH I'M NOT OPPOSING IT.

  • 03:26:57 PM

    THE CHAIR

    THE GENTLEWOMAN IS RECOGNIZED FOR FIVE MINUTES.

  • 03:26:59 PM

    I'D LIKE TO THANK THE GENTLEMAN FOR ADDRESSING ONE OF THE MANY GLARING…

    I'D LIKE TO THANK THE GENTLEMAN FOR ADDRESSING ONE OF THE MANY GLARING PROBLEMS WITH THIS BILL. TITLE 3 OF THIS BILL SIGNIFICANTLY EXPANDS AN EXEMPTION GRANTED BY THE S.E.C. TO CERTAIN BROKERS, BUT WITHOUT PROVIDING THE SIGNIFICANT PROTECTIONS THE S.E.C. DEEMED IMPORTANT FOR SMALL BUSINESSES OR INVESTORS. THIS AMENDMENT WOULD PREVENT PEOPLE WHO HAVE COMMITTED FRAUD AND SECURITIES VIOLATIONS, INDIVIDUALS WHO COULDN'T SELL USED STOCK, BUT -- YOU STOCK, BUT COULD SELL YOU SMALL BUSINESS IN THE UNDERLYING BILL FROM CLAIMING -- CLAIMING THIS EXEMPTION. HOWEVER, WHY DOES THE AMENDMENT LIMIT THE BAD ACTOR PROVISION TO JUST THIS TITLE? WHY NOT MAKE IT EXPLICIT THAT PERSONS AND COMPANIES THAT HAVE COMMITTED FRAUD ARE NOT ELIGIBLE TO TAKE ADVANTAGE OF ANY OF THE EXEMPTIONS PROVIDED IN THIS ACT? I ALSO APPRECIATE THAT THE AMENDMENT PREVENTS PUBLIC SHELL COMPANIES FROM TAKING ADVANTAGE OF THIS TITLE, WHICH WOULD OTHERWISE ALLOW PRIVATE COMPANIES TO CIRCUMVENT IMPORTANT PUBLIC COMPANY DISCLOSURE REQUIREMENTS. HOWEVER, MR. CHAIRMAN -- I'M SORRY, I CAN'T. HOWEVER, MR. CHAIRMAN, I'D LIKE TO KNOW WHY THE AUTHOR COMPLETELY IGNORES THE OTHER SIX INVESTOR PROTECTIONS IN THE S.E.C.'S NO-ACTION RELIEF. I'M NOT AWARE OF ANY WITNESS BEFORE OUR COMMITTEE WHO EXPLAINED HOW THESE OTHER INVESTOR PROTECTIONS WERE BURDENSOME. INDEED, THEY SEEM LIKE COMMONSENSE PROTECTIONS. FOR EXAMPLE, THE S.E.C. REQUIRED MERGER AND ACQUISITION BROKERS WHO REPRESENT BOTH PARTIES OF THE TRANSACTION TO OBTAIN THE CONSENT OF BOTH PARTIES TO THAT CONFLICT OF INTEREST. SIMILARLY, THE S.E.C. PROHIBITED M&A BROKERS FROM ENGAGING IN PRIVATE PLACEMENTS AND ARRANGING BUYER FINANCING BECAUSE THE NARROW EXEMPTION FROM REGISTRATION IS INTENDED FOR PERSONS WHO FAIRLY FACILITATE THE MERGER OF SMALL BUSINESSES, NOT FOR PROMOTERS WHO ARE COMPENSATED FOR THEIR ABILITY TO HYPE UP THE VALUE OF THE COMPANIES AND ATTRACT NEW INVESTMENTS. IF REPUBLICANS TRULY WANTED TO CODIFY THE S.E.C.'S ADMINISTRATIVE ACTION, TO PROVIDE LEGAL CERTAINTY FOR THESE BROKERS, THEN THEY SHOULD HAVE ACCEPTED THE DEMOCRATIC AMENDMENT, ADDING BACK IN THESE PROTECTIONS. BUT THAT IS THANK ISN'T THE POINT OF THIS BILL -- BUT THAT ISN'T THE POINT OF THIS BILL AND THIS AMENDMENT IS JUST A SLEIGHT OF HAND THAT ALL IS WELL. LET ME JUST MENTION HERE THAT REGSTERED BROKER DEALERS ARE SUBJECT TO A VARIETY OF REGULATORY REQUIREMENTS THAT NONBROKER DEALING M&A ADVISORS ARE NOT. INCLUDING, WITHOUT LIMITATION, REGARDING ANTI-MONEY LAUNDERING, PRIVACY OF CUSTOMER INFORMATION, SUPERVISORY REPORTING AND RECORD KEEPING REQUIREMENTS, INSPECTIONS BY THE S.E.C. AND S.R.O., SUCH AS FINRA, SUPERVISION AND REGULATION OF EMPLOYEES TRADING AND OUTSIDE BUSINESS ACTIVITIES, INSIDER TRADING, AND REGULATIONS GOVERNING INTERACTIONS BETWEEN A BROKER DEALER'S INVESTMENT BANKING AND RESEARCH DEPARTMENTS. H.R. 686 RISKS PROMOTING LOWER STANDARDS AND LESS RIGOR AND REGULATORY OVERSIGHT IN THE PROVIDING OF THIS IMPORTANT ADVICE. . IT IS WORTH TO ADD THAT SFMA IS OPPOSED.

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  • 03:30:53 PM

    THE CHAIR

    THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM MICHIGAN.…

    THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM MICHIGAN. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT. THE AMENDMENT IS AGREED TO. IT IS NOW IN ORDER TO CONSIDER AMENDMENT NUMBER 3 PRINTED IN PART A OF HOUSE REPORT 114-414. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION?

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  • 03:31:19 PM

    MR. SHERMAN

    I SEEK TIME TO PROMOTE THE AMENDMENT.

  • 03:31:21 PM

    THE CLERK

    AMENDMENT NUMBER 3 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY…

    AMENDMENT NUMBER 3 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY MR. SHERMAN OF CALIFORNIA.

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  • 03:31:31 PM

    THE CHAIR

    PURSUANT TO HOUSE RESOLUTION 595, THE GENTLEMAN FROM CALIFORNIA, MR.…

    PURSUANT TO HOUSE RESOLUTION 595, THE GENTLEMAN FROM CALIFORNIA, MR. SHERMAN, AND A MEMBER OPPOSED EACH WILL CONTROL FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA.

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  • 03:31:42 PM

    THERE MAY BE SOME ACRIMONY ON THE FLOOR FROM TIME TO TIME BUT MOSTLY WE…

    THERE MAY BE SOME ACRIMONY ON THE FLOOR FROM TIME TO TIME BUT MOSTLY WE ARE IN AGREEMENT. THE S.E.C. UNDER COMMITTEE IN 2014 ISSUED ITS NO-ACTION LETTER PROVIDING IN CERTAIN CIRCUMSTANCES A SMALL BUSINESS MERGER OR ACQUISITIONS BROKER WOULD NOT HAVE TO REGISTER. THEY ISSUED THIS IN JANUARY OF 2014. THE GENTLEMAN FROM MICHIGAN BROUGHT FORWARD A GOOD BILL DESIGNED TO CODIFY THAT DECISION BY THE S.E.C., BUT HE DID NOT IN HIS CODIFICATION INCLUDE SIX OF THE LIMITATIONS THAT THE S.E.C. HAD IN ITS NO-ACTION LETTER. NOW HE HAS BROUGHT FORWARD AND I THINK WE JUST ADOPTED AN AMENDMENT TO ADD TO HIS BILL THE TWO MOST IMPORTANT LIMITATIONS THAT THE S.E.C. HAD IN ITS NO-ACTION LETTER. IT EXCLUDES FROM THE EXEMPTION THOSE WHO HAVE BEEN BAD ACTORS IN THE PAST AND BARRED FROM ASSOCIATION WITH INVESTORS AND SHELL COMPANIES. THAT WAS A GOOD AMENDMENT AND I'M GLAD WE ADOPTED IT. IF WE DEAL WITH THIS AREA OF STATUTE WE SHOULD LOOK AT THE OTHER EXCLUSIONS FROM THE EXEMPTION THAT THE S.E.C. HAS INCLUDED. THE AMENDMENT THAT IS BEFORE US TODAY IS THE SAME AMENDMENT I OFFERED IN COMMITTEE. IT DOES EVERYTHING THAT THE GENTLEMAN FROM MICHIGAN'S AMENDMENT DOES AND TAKES THE ADDITIONAL EXCLUSIONS THAT THE S.E.C. HAD IN ITS NO-ACTION LETTER. MOST IMPORTANT OF THESE IS TO REQUIRE THAT TO BE ELIGIBLE, A BROKER WOULD HAVE TO DISCLOSE TO BOTH PARTIES AND GET CONSENT FROM BOTH PARTIES IF THEY ARE GETTING PAID BY BOTH PARTIES. SO IF YOU ARE GETTING A SELLER'S COMMISSION AND A BUYER'S COMMISSION YOU TELL THE BUYER AND THE SELLER THAT THAT IS THE CASE. THIS AMENDMENT WOULD ADD THAT AS A REQUIREMENT FOR THE EXEMPTION. WE WOULD ALSO HAVE AN INCLUSION. THIS IS THE AMENDMENT I OFFERED IN COMMITTEE AND INCLUDES THE AMENDMENT THAT WE JUST ADOPTED AND INCLUDES THE EXCLUSIONS FROM THE EXEMPTION THE S.E.C. ADOPTED. NONE OF THE S.E.C.'S EXCLUSION FROM ITS EXEMPTION HAVE BEEN CONTROVERSIAL. SO I WOULD LIKE TO GO BEYOND THE GENTLEMAN FROM MICHIGAN'S AMENDMENT AND INCLUDE ALL OF THOSE EXEMPTIONS OR EXCLUSIONS FROM THE EXEMPTION AND I RESERVE THE BALANCE OF MY TIME.

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  • 03:34:48 PM

    THE CHAIR

    JOP -- FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

  • 03:34:56 PM

    I RISE TO CLAIM TIME IN OPPOSITION. I THINK THERE ARE A LOT OF…

    I RISE TO CLAIM TIME IN OPPOSITION. I THINK THERE ARE A LOT OF WELL-THOUGHT-OUT IDEAS. BUT I BELIEVE IN THIS PARTICULAR CASE THIS AMENDMENT GOES A LITTLE BIT TOO FAR IN THE WRONG DIRECTION AND ULTIMATELY CAN PROVE TO HURT A NUMBER OF SMALL BUSINESSES AND ECONOMIC GROWTH. NUMBER ONE, A LOT OF WHAT THE GENTLEMAN IS TRYING TO ACHIEVE HAS ALREADY BEEN ACHIEVED IN THE AMENDMENT BY THE GENTLEMAN FROM MICHIGAN THAT WE JUST APPROVED ON VOICE VOTE HERE ON THE FLOOR. I WOULD ALSO ADD WITH THE AMENDMENT WITH THE GENTLEMAN FROM MICHIGAN WHO HAS THE UNDERLYING TITLE OF THIS BILL, THAT THE LANGUAGE NOW IS IDENTICAL TO THE BIPARTISAN SENATE LANGUAGE AND WE KNOW HOW DIFFICULT IT IS TO GET LAWS PASSED. I THINK IT IS IMPORTANT WHEN WE CAN TO ALIGN THE LANGUAGE WITH THE OTHER SIDE OF THE CAPITOL. THIS COULD EASE PASSAGE OF A BILL WHICH IS BIPARTISAN AGAIN ON BOTH ENDS OF THE CAPITOL. AND SO, AGAIN, I APPRECIATE WHAT THE GENTLEMAN FROM CALIFORNIA IS TRYING TO DO, BUT I THINK THE GENTLEMAN FROM MICHIGAN STRIKES THE APPROPRIATE BALANCE. I WOULD BE HAPPY TO YIELD.

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  • 03:36:20 PM

    MR. SHERMAN

    THERE MIGHT BE SOME ADVANTAGE HAVING IDENTICAL LANGUAGE IF THE BILL IS…

    THERE MIGHT BE SOME ADVANTAGE HAVING IDENTICAL LANGUAGE IF THE BILL IS IDENTICAL TO A SENATE BILL. IN THIS CASE, THIS TITLE IS BEING ADDED TO FIVE OTHER TITLES. AND IN OTHER COMMITTEES WE DEALT I WITH IT. BUT HERE IT IS IN ONE BILL. NO PARTICULAR ADVANTAGE CONFORMING TO THE SENATE. IF THE SENATE LANGUAGE DOES NOT EXCLUDE FROM THE EXEMPTION THOSE BROKERS THAT FAIL TO DISCLOSE --

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  • 03:36:51 PM

    MR. HENSARLING

    RECLAIMING MY TIME. I APPRECIATE THE GENTLEMAN'S PUSHBACK BUT I'M NOT…

    RECLAIMING MY TIME. I APPRECIATE THE GENTLEMAN'S PUSHBACK BUT I'M NOT GOING TO SEE THINGS HIS WAY. I BELIEVE THE GENTLEMAN FROM MICHIGAN STIKES THE PROPER BALANCE PARTICULARLY AT A TIME WHEN WORKING FAMILIES ARE STRUGGLING AND THIS ECONOMY IS LIMPING ALONG. FOURTH QUARTER G.D.P. WHERE THIS ECONOMY WAS ON LIFE SUPPORT SYSTEMS. WE HAVE TO JUMP START OUR SMALL BUSINESSES AND CAPITAL FORMATION. THE GENTLEMAN FROM MICHIGAN HAS THE RIGHT BALANCE AND I RESERVE.

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  • 03:37:27 PM

    THE CHAIR

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

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  • 03:37:38 PM

    WE HAVE A TOUGH ECONOMIC CONDITION OUT IN OUR COUNTRY AND WE NEED MORE…

    WE HAVE A TOUGH ECONOMIC CONDITION OUT IN OUR COUNTRY AND WE NEED MORE JOBS. WE NEED BUSINESS TO OPERATE SMOOTHLY, BUT HOW MANY JOBS DO WE CREATE BY TELLING MORE MANY MERGER AND ACQUISITION BROKERS THAT THEY CAN GET FEES FROM THE SELLER AND GET FEES FROM THE BUYER AND NOT TELL EITHER PARTY THAT THEY'RE GETTING PAID BY BOTH PARTIES? THAT IS NOT AN ESSENTIAL ELEMENT THAT FAILURE TO DISCLOSE IS NOT AN ESSENTIAL ELEMENT OF REJUVINATING THE AMERICAN ECONOMY AND THIS BILL IS NOT IDENTICAL TO THE SENATE BILL BECAUSE THIS BILL HAS SIX TITLES AND THE SENATE BILL HAS ONE TITLE. HERE IS A CHANCE FOR THE HOUSE TO SHOW ITS SUPERIOR WISDOM TO INCLUDE LANGUAGE THAT NEITHER THE AUTHOR OF THE BILL NOR THE CHAIRMAN OF THE COMMITTEE ARGUED AGAINST IN SUBSTANCE TO ADD LANGUAGE THAT SAYS THAT IF YOU WANT TO BE -- IF YOU WANT TO ENJOY THIS EXEMPTION, YOU HAVE TO TELL BOTH PARTIES THAT YOU ARE BEING PAID BY BOTH PARTIES IF YOU ARE BEING PAID BY BOTH PARTIES. THIS ADDITIONAL DISCLOSURE REQUIREMENT IS GOOD ON THE MERITS. IT DOES NOTHING TO DELAY THE ADOPTION OF THE ADDITIONAL LEGISLATION. AND I'M CONFIDENT THAT A REJUFE NATION OF OUR ECONOMY DOES NOT REQUIRE THAT WE CONCEAL FROM THOSE WHO ARE BUYING AND SELLING BUSINESSES THE FACT THAT THEIR BROKER IS GETTING PAID BY BOTH SIDES. LET'S PROVIDE FOR FULL DISCLOSURE AND REVITALIZE THE ECONOMY. AND I YIELD BACK.

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  • 03:39:25 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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  • 03:39:32 PM

    MR. HENSARLING

    I YIELD TO MR. HUIZENGA.

  • 03:39:38 PM

    I APPRECIATE THE EFFORTS OF MY COLLEAGUE FROM CALIFORNIA WE HAVE WORKED…

    I APPRECIATE THE EFFORTS OF MY COLLEAGUE FROM CALIFORNIA WE HAVE WORKED WELL ON A NUMBER OF THESE ISSUES. I WOULD POINT OUT THAT MAYBE NOT YOU, BUT SOME OTHERS ARE TRYING TO ACT LIKE THIS IS THE MONUMENTAL THING WHEREAS MERGERS AND ACQUISITIONS ARE GOING TO FAIL OR FLOUNDER WHETHER YOUR AMENDMENT IS PASSED. AND WHILE IT MAY BE OF SOME INTEREST AND I THINK I HAVE SOME THINGS THAT ARE EITHER BENIGN OR NOT TERRIBLY OBJECTIONABLE, BUT OFTENTIMES OUR PROBLEMS ISN'T BETWEEN US BUT BETWEEN THIS BODY AND THE SENATE TO AGREE. IF WE COULD HAVE ONE LESS THING TO DISAGREE ON I'M ALL FOR IT. I WILL SPECIFICALLY SAY, SUBSECTION C ON PAGE ONE, WE ACTUALLY -- OUR AMENDMENT, MY AMENDMENT ADDS WHAT YOU HAVE AND MORE BAD ACTOR DISQUALIFICATIONS. YOUR AMENDMENT WOULD ROLL THAT BACK. I DON'T THINK THAT WAS YOUR INTENTION. SUBSECTION D, OUR AMENDMENT ADDS THE SAME DISQUALIFICATION, BUT SHORTER AND SIMPLER TO UNDERSTAND. ALSO IMPORTANT IN DEALING WITH THE SENATE. SUBSECTION E, THERE IS NO REASON TO PREVENT SELLERS AND BUYERS FROM GETTING A TRANSACTION BANK THAT IS AFFILIATED WITH AN M&A BROKER. SUBSECTION F, HIGHLY, HIGHLY UNUNUSUAL THAT AN M&A BROKER WOULD WORK FOR BOTH THE SELLER AND BUYER. THIS IS A SECTION IN SEARCH OF A PROBLEM. SUBSECTION G, IT'S ADDING THIS PROHIBITION IS FRANKLY REDUNDANT IN OUR VIEW AND COULD CAUSE SOME MORE CONFUSION. SUBSECTION H, IT IS THE REASONABLE BELIEF ELEMENT DOES THE SAME THING. I'M NOT SURE WHAT WE ARE TRYING TO GET AT OTHER THAN CAUSING MORE CONFUSION. SUBSECTION I, SIMPLY RESTATING THE EXISTING LAW. AS WE'RE GOING THROUGH THIS, WE'RE NOT WILDLY OUT OF DISAGREEMENT. I JUST BELIEVE THAT THE AMENDMENT THAT WAS OFFERED AND PASSED EARLIER, WHICH PUTS US IN LINE AGAIN WITH THE EFFORTS OF THE SENATE IS A BETTER WAY TO GO. AGAIN TO MY FRIEND FROM CALIFORNIA, THIS IS NOT YOU THAT I WILL DIRECT THIS AT, BUT FROM OTHERS ON YOUR SIDE OF THE AISLE WHO ARE POINTING TO THE NO-ACTION LETTER AS THE REASON WHY WE DON'T HAVE TO DO THIS LEGISLATION, YET WE ARE SAYING WE HAVE TO PASS YOUR AMENDMENT BECAUSE IT'S ONLY A NO-ACTION LETTER AND WE NEED THIS INTO THE LAW. WE CAN'T HAVE IT BOTH WAYS. AND WITH THAT I YIELD BACK.

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  • 03:42:25 PM

    THE CHAIR

    YIELD BACK.

  • 03:42:42 PM

    THE MESSENGER

    TO. THE MESSENGER: Z

  • 03:42:48 PM

    THE SPEAKER PRO TEMPORE

    Z

  • 03:42:51 PM

    THE MESSENGER

    A MESSAGE. THE MESSENGER: MR. SPEAKER, A MESSAGE FROM THE PRESIDENT OF THE…

    A MESSAGE. THE MESSENGER: MR. SPEAKER, A MESSAGE FROM THE PRESIDENT OF THE UNITED STATES. THE SECRETARY: I'M DIRECTED BY THE

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  • 03:42:55 PM

    THE SECRETARY

    THE COMMITTEE WILL RESUME ITS SITTING.

  • 03:43:03 PM

    THE SPEAKER PRO TEMPORE

    THE COMMITTEE WILL RESUME ITS SITTING.

  • 03:43:12 PM

    THE CHAIR

    IT IS NOW IN ORDER TO CONSIDER AMENDMENT NUMBER 4 PRINTED IN PART A OF…

    IT IS NOW IN ORDER TO CONSIDER AMENDMENT NUMBER 4 PRINTED IN PART A OF HOUSE REPORT 114-414 WHICH THE CHAIR UNDERSTANDS WILL NOT BE OFFERED. IT IS NOW IN ORDER TO CONSIDER AMENDMENT NUMBER 5 PRINTED IN PART A OF HOUSE REPORT 114-414 WHICH THE CHAIR UNDERSTANDS WILL NOT BE OFFERED. IT IS NOW IN ORDER TO CONSIDER AMENDMENT NUMBER 6 PRINTED IN PART A OF HOUSE REPORT 114-414. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION? . THE CLERK WILL DESIGNATE THE AMENDMENT.

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  • 03:43:48 PM

    THE CLERK

    AMENDMENT NUMBER 6 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY…

    AMENDMENT NUMBER 6 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY MR. ISSA OF CALIFORNIA.

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  • 03:43:56 PM

    THE CHAIR

    PURSUANT TO HOUSE RESOLUTION 595, THE GENTLEMAN FROM CALIFORNIA, MR. ISSA…

    PURSUANT TO HOUSE RESOLUTION 595, THE GENTLEMAN FROM CALIFORNIA, MR. ISSA AND A MEMBER OPPOSED EACH WILL CONTROL FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA.

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  • 03:44:08 PM

    MR. ISSA

    THANK YOU, MR. CHAIRMAN. MY AMENDMENT QUITE SIMPLY MAKES THIS BILL BETTER.…

    THANK YOU, MR. CHAIRMAN. MY AMENDMENT QUITE SIMPLY MAKES THIS BILL BETTER. SINCE 2011, ALMOST FIVE YEARS, VIRTUALLY EVERY SINGLE PUBLIC COMPANY HAS REPORTED FINANCIAL STATEMENTS TO THE S.E.C. BY ELECTRONIC SEARCHABLE, READABLE DATA FORMAT. THIS SEARCHABLE DATA ALLOWS THE INVESTOR COMMUNITY TO LOOK THROUGH DATA IN A WAY THEY NEVER COULD UNDER PAPER AND ITS ACCURACY IS AS GOOD OR AS BAD AS THE SOURCE MATERIAL THAT GOES ON TO THAT PAPER. BOTH THE AUTHOR OF THE BILL AND MYSELF AGREE ON ONE THING. PRINTING PAPER AND SENDING ELECTRONIC FORMAT IS OUTDATED. NO QUESTION THAT THE S.E.C. IS LONG OVERDUE TO CONVERT TO AN ALL ELECTRONIC FILING. AS A MATTER OF FACT, WHERE MOST OF THE PEOPLE THAT WILL BE LISTENING AND WATCHING TODAY, THEY ARE ELECTRONICICALLY THEIR INCOME TAX AND PRINTING OUT A PAPER COPY. THE IDEA THAT A PUBLIC COMPANY WHO SPENDS, TWO, THREE, OR MORE MILLIONS OF DOLLARS IN COMPLIANCE EVERY YEAR WOULD FILE PAPER AND THEN THAT PAPER WOULD BE ELECTRONICICALLY SCANNED, SENT TO INDIA AND ANALYZED BY THE INVESTMENT COMPANY IS THE MOST BACKWARDS WAY ONE COULD IMAGINE DOING IT. MY AMENDMENT TO MR. HURT'S BILL THAT IS ENCLOSED IN THE LARGER BILL SAYS WE UNDERSTAND THAT SMALL STARTUP COMPANIES MAY HAVE A DIFFICULT TIME TRANSITIONING AND THE IDEA THEY WOULD BE ALLOWED TO GO OPTIONAL IS ACCEPTABLE IF IT IS FOR A SHORT PERIOD OF TIME AS THE EVENTUAL TRANSITION TO ALL ELECTRONIC FILING GOES FORWARD. . THE MANY THOUSANDS OF COMPANIES WHO HAVE FILED ELECTRONICALLY AND HAVE SOFTWARE THAT MAKES IT A PUSH OF A BUTTON, CALMING OFF OF THIS WOULD IN FACT BE A GIANT STEP BACKWARDS. SO AS WE GO TOWARD ALL ELECTRONIC FILING, AND THE ELIMINATION OF THE ABSURDITY OF PAPER AS THE STANDARD OF THE SECURITIES AND EXCHANGE COMMISSION, WE ONLY ASK THAT THIS PROVISION BE ONE THAT IS FOCUSED ON NEW COMPANIES FOR A SHORT PERIOD OF TIME. AND THAT'S THE REASON THE AMENDMENT TAKES THE FIVE-YEAR EXEMPTION TO ALL COMPANIES TO BE SIMPLY AN EXEMPTION TO NEW I.P.O.'S. IN OTHER WORDS, COMPANIES THAT MAY NOT AT THE TIME OF THEIR PUBLIC OFFERING ALREADY HAVE THE SOFTWARE IN PLACE TO DO THIS FILING. WITH THAT, I RESERVE THE BALANCE OF MY TIME.

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  • 03:46:51 PM

    THE CHAIR

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. DOES ANY MEMBER SEEK TIME…

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. DOES ANY MEMBER SEEK TIME IN OPPOSITION?

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  • 03:47:03 PM

    MR. HENSARLING

    YES. MR. CHAIRMAN, I RISE TO CLAIM TIME IN GENTLE OPPOSITION.

  • 03:47:08 PM

    MR. ISSA

    BE GENTLE.

  • 03:47:10 PM

    THE CHAIR

    THE GENTLEMAN IS RECOGNIZED FOR FIVE MINUTES.

  • 03:47:12 PM

    THANK YOU, MR. CHAIRMAN. I SAY I RISE IN GENTLE OPPOSITION, I DO NOT SAY…

    THANK YOU, MR. CHAIRMAN. I SAY I RISE IN GENTLE OPPOSITION, I DO NOT SAY THAT IN TONGUE AND CHEEK. BECAUSE THE GENTLEMAN FROM CALIFORNIA IS HIGHLY RESPECTED AS A MEMBER OF THIS BODY. HIS OPINIONS ARE RESPECTED AS AN ENTREPRENEUR, AS A SMALL BUSINESS INDIVIDUAL, HIS AC EWE MEN IS RESPECTED -- ACUMEN IS RESPECTED AS AN INVESTOR. SO IT IS NOT A PLEASANT EXPERIENCE TO OPPOSE ONE OF HIS AMENDMENTS. I APPRECIATE THE SENTIMENT BY WHICH HE OFFERS IT. I WOULD JUST REMIND ALL THAT TITLE 4 OF THE BILL PROVIDES AN OPTIONAL, OPTIONAL EXEMPTION FROM THE XBRL DATA FILING REQUIREMENTS, FOR EMERGING GROWTH IN SMALLER PUBLIC COMPANIES FOR A LIMITED PERIOD OF TIME. AND I THINK THERE'S AN OPEN QUESTION, AND ONE THING THAT THE GENTLEMAN DIDN'T GET THE BENEFIT OF WAS HEARING ALL THE TESTIMONY THAT WE HAD WITHIN OUR COMMITTEE, AND THERE WAS A LOT OF TESTIMONY ABOUT JUST HOW COSTLY THIS IS TO A NUMBER OF THESE COMPANIES. NOW, IF THE INVESTING PUBLIC DEMANDS IT, THEN SMALLER COMPANIES WILL DO IT. FOR EXAMPLE, THERE WAS A SARBANES-OXLEY EXEMPTION FOR SOME SMALLER COMPANIES AND ONLY ROUGHLY HALF OF THEM TOOK IT. BECAUSE FOR CERTAIN SMALLER COMPANIES, WHAT THEY FOUND OUT WAS, WELL, THE INVESTORS DEMANDED IT. SO I WOULD SAY AGAIN, WHY DON'T WE LET THE FREE MARKET DETERMINE THIS? WE'RE NOT TALKING ABOUT THE TYPES OF INFORMATION THAT ARE PROVIDED IN DISCLOSURE, WE'RE TALKING ABOUT THE FORMAT. WE'RE TALKING ABOUT THE FORMAT OF DISCLOSURE. WE'VE HEARD TESTIMONY FROM A COMPANY THAT'S SPENDING OVER $50,000 ANNUALLY ON XBRL COMPLIANCE, AND AT LEAST IN THEIR CASE THEY CAN'T FIND PEOPLE WHO FOLLOW THEIR COMPANY THAT ARE ACTUALLY USING IT. SO THAT'S $50,000 A YEAR THAT COULD GO INTO R&D, THAT COULD GO INTO PRODUCTIVITY ENHANCEMENT, THAT COULD GO INTO HIRING MORE INDIVIDUALS. SO, I'M NOT SAYING THAT XBRL IS UNIMPORTANT. BUT I THINK TO SOME EXTENT, THAT AT LEAST FOR THE SMALLER COMPANIES, AND PARTICULARLY AT THIS TIME IN OUR COUNTRY'S ECONOMIC HISTORY, WHERE WE CAME OFF AN INCREDIBLY HORRENDOUS QUARTER, AND WE KNOW THAT AFTER EIGHT YEARS OF OBAMA-NOMICS, WE'RE LIMPING ALONG AT HALF OF OUR AVERAGE ECONOMIC GROWTH, I THINK WE WANT TO ERR ON THE SIDE OF OUR SMALL BUSINESSES, OF OUR ENTREPRENEURIAL VENTURES, OF OUR SMALL BUSINESS STARTUPS. SO I APPRECIATE THE VALUE THAT XBRL PROVIDES TO A LOT OF COMPANIES, A LOT OF INVESTORS, BUT I THINK IF THEY DEMAND IT, ENOUGH WILL PROVIDE IT. I RESERVE THE BALANCE OF MY TIME.

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  • 03:50:07 PM

    THE CHAIR

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

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  • 03:50:11 PM

    MR. ISSA

    THANK YOU, MR. CHAIRMAN. I'D LIKE TO YIELD 30 SECONDS TO A SENIOR MEMBER…

    THANK YOU, MR. CHAIRMAN. I'D LIKE TO YIELD 30 SECONDS TO A SENIOR MEMBER OF THE FINANCIAL SERVICES COMMITTEE, THE GENTLELADY FROM NEW YORK.

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  • 03:50:19 PM

    THE CHAIR

    THE GENTLEWOMAN FROM NEW YORK IS RECOGNIZED FOR 30 SECONDS.

  • 03:50:21 PM

    OF THE GENTLEMAN'S WELL THOUGHT OUT AND MEANINGFUL AMENDMENT. ALL…

    OF THE GENTLEMAN'S WELL THOUGHT OUT AND MEANINGFUL AMENDMENT. ALL FINANCIAL REGULATORS IN THE DEVELOPED WORLD REQUIRE SEARCHABLE P.D.F.'S, AS HIS BILL WOULD ALLOW. AND THAT'S WHY THE SECURITIES AND EXCHANGE COMMISSION BEGAN REQUIRING THE EX TENSABLE BUSINESS REPORTING LANGUAGE. XBRL IS THE GLOBAL STANDARD FOR STRUCTURED FINANCIAL REPORTING. WHY SHOULD WE BE ANY DIFFERENT? AND BY REMOVING THE REQUIREMENT FOR 60% OF THE FIRMS, AS H.R. 1965 DOES, IS A STEP BACKWARD FOR CORPORATE TRANSPARENCY AND THE ABILITY FOR INVESTORS TO INVEST IN NEW STARTUPS. IT'S A WELL THOUGHT OUT AMENDMENT. I CONGRATULATE YOU ON IT. I SUPPORT IT.

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  • 03:51:06 PM

    THE CHAIR

    THE GENTLEWOMAN'S TIME HAS EXPIRED. THE GENTLEMAN FROM CALIFORNIA…

    THE GENTLEWOMAN'S TIME HAS EXPIRED. THE GENTLEMAN FROM CALIFORNIA RESERVES. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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  • 03:51:13 PM

    MR. HENSARLING

    I HAVE THE RIGHT TO CLOSE.

  • 03:51:16 PM

    THE CHAIR

    THE GENTLEMAN IS RECOGNIZED FOR CLOSING, BUT IS THE GENTLEMAN SEEKING…

    THE GENTLEMAN IS RECOGNIZED FOR CLOSING, BUT IS THE GENTLEMAN SEEKING RECOGNITION NOW?

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  • 03:51:21 PM

    MR. HENSARLING

    I RESERVE.

  • 03:51:22 PM

    THE CHAIR

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

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  • 03:51:27 PM

    MR. ISSA

    CAN I INQUIRE HOW MUCH TIME EACH SIDE HAS REMAINING?

  • 03:51:32 PM

    THE CHAIR

    THE GENTLEMAN FROM CALIFORNIA HAS 1 3/4 MINUTES. THE GENTLEMAN FROM TEXAS…

    THE GENTLEMAN FROM CALIFORNIA HAS 1 3/4 MINUTES. THE GENTLEMAN FROM TEXAS HAS TWO MINUTES.

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  • 03:51:37 PM

    MR. ISSA

    I GUESS I WILL CLOSE. MR. CHAIRMAN, I'VE BEEN ON THE BOARD OF A PUBLIC…

    I GUESS I WILL CLOSE. MR. CHAIRMAN, I'VE BEEN ON THE BOARD OF A PUBLIC COMPANY, OF MULTIPLE PUBLIC COMPANIES. I'VE TAKEN A COMPANY PUBLIC. AS HAVE MANY OF THE SUPPORTERS OF THIS AMENDMENT. I KNOW THE COST OF TAKING A COMPANY PUBLIC. IT IS IN THE MILLIONS. IT IS NOT IN THE THOUSANDS. I ALSO KNOW THAT WHETHER IT'S BERNIE MADOFF OR ENRON OR A HOST OF MUCH SMALLER COMPANIES WHO HAVE DECEIVED THE PUBLIC, THE SECURITIES AND EXCHANGE COMMISSION HAS AN OBLIGATION TO CONTINUOUSLY IMPROVE THE MATERIAL AVAILABLE TO THE FINANCIAL COMMUNITY. AND TO MAKE SURE THAT IT IS EQUALLY SEARCHABLE AND EQUALLY ACCESSIBLE TO THE LARGE AND SMALL INVESTOR. THAT'S THE REASON THAT I STRONGLY BELIEVE THAT ELIMINATION OF PAPER, NOT COVERED IN THIS BILL, SHOULD NOT BE REPLACED BY ELIMINATION IN ANY WAY OF THE REPORTING UNDER THE DIGITAL REPORTING REQUIREMENTS, SECURITIES AND EXCHANGE COMMISSION. SO I WOULD URGE MEMBERS THAT THIS IS NARROWLY FOCUSED. MUCH MORE NARROW THAN THE BILL ITSELF. IT RECOGNIZES THAT IF SOMEBODY WANTS TO GO PUBLIC AND NOT DO THIS, THEY WOULD HAVE THE ABILITY TO DO SO. BUT AS MRS. MALONEY SAID, FOR 60% OF THE REPORTING COMPANIES, TO BE EXEMPTED OUT, WOULD BEGIN TO ROT AWAY THE UNDERPINNINGS -- UNDERPINNINGS OF A 5-YEAR-OLD PROGRAM THAT HAS BEEN SUCCESSFUL. SO I WOULD HOPE THAT PEOPLE WOULD REALIZE THAT IT'S NOT A NECESSARY DRACONIAN BACKWARDS STEP TO BEFORE 2011. AND IN FACT, FROM MY INFORMATION AND FROM MY EXPERIENCE, IT IS A COST TO SIMPLY INCLUDE A DIGITAL FORMAT THAT THE WORLD CAN LOOK AT AND EVALUATE QUICKER AND WITH GREATER ACCURACY. WITH THAT, I WOULD LIKE TO THANK THE CHAIRMAN OF THE FULL COMMITTEE, MR. HENSARLING, FOR BRINGING A COMBINED BILL THAT I GENERALLY APPROVE OF AND HOPE THAT THIS AMENDMENT WILL MAKE IT A BILL I CAN VOTE FOR. AND I YIELD BACK.

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  • 03:53:39 PM

    THE CHAIR

    THE GENTLEMAN'S TIME HAS EXPIRED. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

  • 03:53:44 PM

    MR. HENSARLING

    MR. CHAIRMAN, I'M HAPPY TO YIELD THE BALANCE OF MY TIME TO THE GENTLEMAN…

    MR. CHAIRMAN, I'M HAPPY TO YIELD THE BALANCE OF MY TIME TO THE GENTLEMAN FROM VIRGINIA, MR. HURT, THE AUTHOR OF TITLE 4 OF H.R. --

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  • 03:53:51 PM

    THE CHAIR

    THE GENTLEMAN FROM VIRGINIA IS RECOGNIZED.

  • 03:53:54 PM

    THANK YOU, MR. CHAIRMAN. MR. CHAIRMAN, I JOIN IN MY RESPECT FOR THE…

    THANK YOU, MR. CHAIRMAN. MR. CHAIRMAN, I JOIN IN MY RESPECT FOR THE PROPONENT OF THIS AMENDMENT. CERTAINLY APPRECIATE HIS EFFORTS IN ATTEMPTING TO MAKE THIS TITLE BETTER. BUT I WOULD POINT OUT A COUPLE OF THINGS. THE FIRST THING I WOULD SAY IS, THE CHAIRMAN OF THE FINANCIAL SERVICES COMMITTEE HAS SAID, THIS IS A VOLUNTARY EXEMPTION. IT IS A TEMPORARY EXEMPTION. WE HEARD IN THE COMMITTEE THIS CONGRESS AND IN PREVIOUS CONGRESSES THAT THE XBRL FORMAT THAT'S BEEN REQUIRED BY THE S.E.C. SINCE 2009 HAS NOT BEEN RELIABLE. AND THAT MANY INVESTORS, A COLUMBIA STUDY THAT WAS DONE IN 2012 INDICATED AT THAT TIME THAT ONLY 10% OF INVESTORS ACTUALLY USED -- FOUND XBRL FORMAT USEFUL IN DOING ANALYSIS OF PUBLIC COMPANIES. IT IS FOR THOSE REASONS THAT WE BELIEVE THAT THIS TEMPORARY, VOLUNTARY OPTION OF NOT SUBMITTING FOR SMALLER COMPANIES, NOT SUBMITTING TO THE S.E.C. IN THIS FORMAT, MAKES SENSE. I WOULD SUBMIT TO YOU THAT THIS AMENDMENT, WHAT IT DOES IS IT WOULD REQUIRE ALL COMPANIES THAT ARE CURRENTLY SUBMITTING IN THIS FORM TO CONTINUE. WHAT IT WOULD DO IS EXEMPT FUTURE COMPANIES. WHAT STRIKES ME -- LIKE THIS. IF THIS XBRL FORMAT AND PROCESS IS NOT READY FOR PRIMETIME, IF IT'S NOT READY FOR PRIMETIME FOR FUTURE USERS, THEN WE OUGHT TO ALSO GIVE RELIEF FOR THOSE WHO ARE CURRENTLY HAVING TO DO IT. AND WOULD LIKE NOT TO DO IT. I BELIEVE THAT WE SHOULD ALLOW ALL EMERGING GROWTH COMPANIES AND SMALLER ISSUERS TO TAKE ADVANTAGE OF THIS VOLUNTARY EXEMPTION, WHILE THE S.E.C. IS GETTING THIS FORMAT READY FOR PRIMETIME. THIS AMENDMENT GOES TO THE VERY ESSENCE OF THE UNDERLYING MEASURE AND WOULD NOT PROVIDE ANY RELIEF TO THE SMALL COMPANIES WHO ARE CURRENTLY BEING NEGATIVELY IMPACTED BY THIS FAILED XBRL SYSTEM. I URGE MY COLLEAGUES TO OPPOSE THIS AMENDMENT AND ASK FOR THE SUPPORT OF THE UNDERLYING BILL AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 03:55:57 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE QUESTION IS ON THE…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM CALIFORNIA. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. IN THE OPINION OF THE CHAIR, THE NOES HAVE IT. THE AMENDMENT IS NOT AGREED TO. EYES MR. CHAIRMAN. ON THAT --

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  • 03:56:12 PM

    MR. ISSA

    MR. CHAIRMAN, ON THAT I ASK FOR A RECORDED VOTE.

  • 03:56:15 PM

    THE CHAIR

    PURSUANT TO CLAUSE 6 OF RULE 18, FURTHER PROCEEDINGS ON THE AMENDMENT…

    PURSUANT TO CLAUSE 6 OF RULE 18, FURTHER PROCEEDINGS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM CALIFORNIA WILL BE POSTPONED. IT IS NOW IN ORDER TO CONSIDER AMENDMENT NUMBER 7 PRINTED IN PART A OF HOUSE REPORT 114-414. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM NEW YORK SEEK RECOGNITION?

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  • 03:56:34 PM

    MRS. MALONEY

    ASK RISE AS THE DESIGNEE OF THE AUTHOR OF THE AMENDMENT, THE PRIME AUTHOR,…

    ASK RISE AS THE DESIGNEE OF THE AUTHOR OF THE AMENDMENT, THE PRIME AUTHOR, OF WHICH I AM A LEAD CO-SPONSOR, MR. ELLISON. I RISE AS THE DESIGNEE AND HAVE AN AMENDMENT AT THE DESK.

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  • 03:56:46 PM

    THE CHAIR

    THE CLERK WILL DESIGNATE THE AMENDMENT.

  • 03:56:48 PM

    THE CLERK

    AMENDMENT NUMBER 7 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY…

    AMENDMENT NUMBER 7 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY MRS. MALONEY OF NEW YORK.

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  • 03:56:56 PM

    THE CHAIR

    PURSUANT TO HOUSE RESOLUTION 595, THE GENTLEWOMAN FROM NEW YORK AND A…

    PURSUANT TO HOUSE RESOLUTION 595, THE GENTLEWOMAN FROM NEW YORK AND A MEMBER OPPOSED EACH WILL CONTROL FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM NEW YORK.

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  • 03:57:06 PM

    MRS. MALONEY

    MR. SPEAKER, THIS AMENDMENT STRIKES TITLE 4 OF H.R. 1675. TITLE 4 OF THIS…

    MR. SPEAKER, THIS AMENDMENT STRIKES TITLE 4 OF H.R. 1675. TITLE 4 OF THIS BILL REQUIRES THE SECURITIES AND EXCHANGE COMMISSION CORPORATION EXEMPT PUBLIC COMPANIES WITH LESS THAN $250 MILLION IN ANNUAL REVENUE FROM REPORTING THEIR FINANCIAL INFORMATION AS SCHEDULED DATA. THIS EXEMPTION WOULD CUT OFF ACCESS TO SEARCHABLE, EASILY AC SELLABLE DATA -- ACCESSIBLE DATA FOR ABOUT 60% OF ALL PUBLIC COMPANIES. INSTEAD OF USING SEARCHABLE STRUCTURAL DATA, WE WOULD RETURN TO A PAPER-BASED SYSTEM. AND EXEMPTING 60% OF PUBLIC COMPANIES FROM FILING THEIR FINANCIALS IN A STRUCTURED, UNDERSTANDABLE WAY MAKES IT HARDER FOR THE PEOPLE WHO REVIEW CORPORATE FINANCIAL DISCLOSURE DOCUMENTS TO UNDERSTAND WHAT IS GOING ON IN A COMPANY. ELIMINATING THE REQUIREMENT FOR SEARCHABLE DATA HARMS RESEARCHERS AND ACADEMICS, REGULATORS, INVESTORS, AND THE GENERAL PUBLIC. ALL OF THEM WILL HAVE A HARDER TIME UNDERSTANDING THE PROFESSIONAL FINANCIAL PERFORMANCE OF CORPORATIONS. IF TITLE 4 IS PASSED, DOCUMENTS THAT ARE NONSEARCHABLE MUST BE MANUALLY REVIEWED TO BE EXTRACT USEFUL INFORMATION -- TO EXTRACT USEFUL INFORMATION. AND MANUAL REVIEW IS MUCH MORE PRONE TO ERROR. NO OTHER FINANCIAL REGULATOR IN THE DEVELOPED WORLD DOES NOT REQUIRE SEARCHABLE P.D.F.'S. AND THAT'S WHY THE SECURITIES AND EXCHANGE COMMISSION BANNED REQUIRING REPORTING IN BUSINESS REPORTING LANGUAGE, XBRL. IT IS THE GLOBAL STANDARD FOR STRUCTURAL FINANCIAL REPORTING. WE WOULD BE BEHIND THE WORLD IF WE DO THIS. BY REMOVING THE REQUIREMENT FOR 60% OF FIRMS, H.R. 1965 IS A BACKWARDS STEP FOR CORPORATE TRANSPARENCY AND FOR INVESTOR KNOWLEDGE AND INVESTORS. I SUPPORT THIS AMENDMENT AND I BELIEVE THAT WE NEED TO MOVE OUR FINANCIAL ANALYSIS INTO THE MODERN WORLD. WE SPEND A GREAT DEAL OF TIME ON THE FINANCIAL SERVICES COMMITTEE TALKING ABOUT WAYS TO IMPROVE SMALL COMPANIES' ACCESS TO CAPITAL. WELL, THAT IS EXACTLY WHAT XBRL CAN DO. AND SO I AM PUZZLED THAT SOME OF MY COLLEAGUES ON THE OTHER SIDE OF THE AISLE WOULD WANT TO MOVE BACKWARD ON XBRL INSTEAD OF MOVING FORWARD. XBRL MAKES IT POSSIBLE FOR INVESTORS AND ANALYSTS TO NEVER QUICKLY DOWNLOAD -- VERY QUICKLY DOWNLOAD STANDARDIZED INFORMATION FOR AN ENTIRE INDUSTRY AND MAKE IMMEDIATE START MAKING CROSS-COMPANY COMPARISONS IN ORDER TO IDENTIFY BEST PERFORMERS. IT MAKES IT EASIER FOR THEM TO INVEST IN STARTUPS. THIS ALLOWS INVESTORS TO SPEND MORE TIME ANALYZING DATA AND LESS TIME GATHERING DATA. . THIS WILL ALSO ENABLE INVESTORS TO MORE EASILY IDENTIFY THE COMPANIES THAT ARE DIAMONDS IN THE ROUGH, SO TO SPEAK. OFTEN THESE ARE SMALL COMPANIES THAT ARE INNOVATIVE. THESE ARE BUILDING MODELS THAT WE NEED TO SUPPORT. AND, EXCUSE ME THE MAIN AUTHOR OF THE BILL IS HERE, HE IS ON THE FLOOR AND I WOULD LIKE TO YIELD THE REMAINING TIME THAT I HAVE TO THE -- TO MY DISTINGUISHED COLLEAGUE, KEITH ELLISON.

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  • 04:00:47 PM

    THE CHAIR

    THE GENTLEMAN IS RECOGNIZED FOR THE BALANCE OF THE TIME, 1 1/2 MINUTES.

  • 04:00:55 PM

    ELLISON MR.

    I THANK MRS. MALONEY FOR AND THE CHAIRMAN FOR ENTERTAINING THIS PIECE OF…

    I THANK MRS. MALONEY FOR AND THE CHAIRMAN FOR ENTERTAINING THIS PIECE OF LEGISLATION. IF YOU'RE A COMPANY THAT'S GOING PUBLIC, IF YOU'RE A COMPANY THAT WANTS TO SELL SHARES TO RETAIL INVESTORS, YOU'RE NOT A SMALL BUSINESS. YOU'RE BIG BUSINESS. YOU'RE IN THE BIG LEAGUES. ALONG WITH THE PRIVILEGE COMES SOME RESPONSIBILITY. IF YOU'RE TOO SMALL TO REPORT YOUR DATA, YOU'RE TOO SMALL TO BE ON NASDAQ. IF YOU CAN'T RUN WITH THE BIG DOGS, YOU SHOULD STAY ON THE PORCH. TRUE TRKS THEY COULD CHOOSE TO REPORT IT -- REPORT A SEARCHABLE STRUCTURED DATA BUT THAT WOULD CREATE A FRACK STRUR WHICH -- A FRACTURED SYSTEM, SOME REPORT BY SEARCHABLE DATA AND SOME BY PDF'S. I WANT PEOPLE WHO REVIEW CORPORATE DOCUMENTS TO HAVE THE DATA THEY NEED. THEY NEED TO FIND CORPORATE DATA FASTER, IN MORE DETAIL AND AT LOWER COST. THAT'S WHERE XBRL COMES IN. XBRL IS OPERATING NOW. WHEN THE EXEMPTION WAS BROUGHT BEFORE THE PREVIOUS CONGRESS, TWO WITNESSES TESTIFIED TO COSTS OF $50,000 OR MORE TO FILE XBRL BUT THESE TWO COMPANIES APPEAR TO BE OUTLIERS. THE AMERICAN INSTITUTE FOR CERTIFIED PUBLIC ACCOUNTANTS FOUND THAT SMALLER FIRM PACE ON THE AVERAGE OF $10,000 A YEAR. MEANWHILE, THE GROUP OF COMPANIES THAT WOULD BE EXEMPT UNDER THIS BILL WOULD BE -- PAID MORE THAN $1 BILLION IN LEGAL AND FINANCIAL BANKING FEES JUST TO RAISE CAPITAL FROM INVESTORS. THE COST OF USING XBRL IS MIN US KUHL COMPARED TO THE COST OF BEING A PUBLIC COMPANY THIS AMENDMENT IS MERITORIOUS AND WE ASK SUPPORT.

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  • 04:02:39 PM

    THE CHAIR

    THE GENTLEMAN'S TIME HAS EXPIRED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM…

    THE GENTLEMAN'S TIME HAS EXPIRED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS RISE?

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  • 04:02:43 PM

    >>

    I RISE TO CLAIM TIME IN OPPOSITION.

  • 04:02:47 PM

    THE GENTLEMAN IS RECOGNIZED. MR. HENSARLING EVERYBODY KNOW THIS IS ECONOMY…

    THE GENTLEMAN IS RECOGNIZED. MR. HENSARLING EVERYBODY KNOW THIS IS ECONOMY STINKS. ENTREPRENEURSHIP IS AT A GENERATION ALOE. LET'S DO SOMETHING TO ACTUALLY HELP OUR SMALL BUSINESSES RAISE CAPITAL. YOU CAN'T HAVE CAPITAL -- CAPITALISM CUT -- WITHOUT CAPITAL. THE GENTLEMAN FROM VIRGINIA PROVIDES A VERY SIMPLE OPTIONAL EXEMPTION FROM THIS XBRL DATA FILING REQUIREMENT. IT HAS NOTHING TO DO WITH THE CONTENT OF DISCLOSURE, MR. CHAIRMAN. ALL IT HAS TO DO WITH IS THE FORMAT. A FORMAT THAT IS VERY EXTENSIVE -- EXPENSIVE FOR A NUMBER OF OUR WITNESSES TESTIFIED THAT INVESTORS DON'T EVEN USE IT. WHAT WE'RE HEARING FROM THE AUTHOR OF THE AMENDMENT AND OTHERS IS A ROUGH TRANSLATION, OH, WELL THIS IS IN THE SMALL BUSINESS' BEST INTEREST. BECAUSE THEY -- THEY'LL NEED IT TO ATTRACT INVESTORS. WHY DON'T WE LET THEM MAKE THAT DECISION? THIS IS ALMOST THE AN LOG OF OBAMACARE THAT THE -- THE ANALOG OF OBAMACARE THAT THE AMERICAN PEOPLE WERE TOO STUPID TO KNOW WHAT THEY NEED FSMED XBRL WORKS FOR SMALL COMPANIES, THEY'LL USE IT. IF IT DOESN'T, THEY'LL OPT OUT OF IT. IT IS OPTIONAL FOR EMERGING GROWTH COMPANIES AND SMALLER COMPANIES. IT IS TEMPORARY, IT IS A HUGE BURDEN ON THESE COMPANIES AT A TIME WHERE WE JUST HAD ONE OF THE WORST QUARTERS OF ECONOMIC GROWTH WE'VE SEEN IN YEARS WHEN THE ECONOMY CONTINUES TO LAG AT ROUGHLY HALF OF ITS HISTORIC ECONOMIC GROWTH. AT SOME POINT, I WOULD HOPE THE OTHER SIDE OF THE AISLE WOULD END THE WAR ON SMALL BUSINESSES AND EMERGING GROWTH COMPANIES. WE NEED, WE NEED TITLE 4 AND AT THIS TIME, I'D LIKE TO YIELD THE BALANCE OF MY TIME TO THE AUTHOR OF TITLE 4, H.R. 1675 THE GENTLEMAN FROM VIRGINIA, MR. HURD.

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  • 04:04:47 PM

    THE CHAIR

    THE GENTLEMAN IS RECOGNIZED FOR THREE MINUTES.

  • 04:04:51 PM

    I RISE IN OPPOSITION TO THIS AMENDMENT. THE FIRST AMENDMENT THAT WE HEARD…

    I RISE IN OPPOSITION TO THIS AMENDMENT. THE FIRST AMENDMENT THAT WE HEARD FROM THE GENTLEMAN FROM CALIFORNIA WAS COUCHED AS A FRIENDLY AMENDMENT THIS AMENDMENT TO BE SURE IS NOT A FRIENDLY AMENDMENT. WHAT IT DOES IS IT STRIKES TITLE 4 ALTOGETHER. CERTAINLY APPRECIATE THE COMMENTS MADE BY THE GENTLEMAN AND THE GENTLELADY IN SUPPORT OF THE AMENDMENT.

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  • 04:05:17 PM

    BUT I WOULD SUGGEST TO YOU THAT THIS IS NOT A CONSTRUCTIVE APPROACH. THERE…

    BUT I WOULD SUGGEST TO YOU THAT THIS IS NOT A CONSTRUCTIVE APPROACH. THERE HAVE BEEN A LOT OF MISSTATEMENTS ABOUT WHAT THIS DOES. IF THE S.E.C. WERE READY TO EFFECTIVELY IMPLEMENT XBRL, WE WOULDN'T BE HAVING THIS CONVERSATION BUT THE S.E.C. IS NOT AND SMALLER COMPANIES ARE WASTING VALUABLE RESOURCES ON A SYSTEM THAT'S NOT READY FOR PRIMETIME. ONE THING SAID EARLIER IS THAT THIS TITLE WOULD AFFECT, OR EXEMPTION WOULD AFFECT 60% OF THE COMPANIES THAT ARE REGULATE THE TRUTH OF IT IS, AND THE PERSPECTIVE THAT NEEDS TO BE REMEMBERED IS THIS, THAT AMONG THOSE 60% OF COMPANIES, WE'RE TALKING ABOUT ONLY -- LESS THAN 7% OF THE MARKET VALUE OF ALL PUBLIC COMPANIES. SO WE'RE TALKING ABOUT IN THE GRAND SCHEME OF THINGS COMPANIES THAT ARE SMALL AND THE SECOND THING WE KNOW ABOUT THEM IS THAT THEY ARE OUR MOST DYNAMIC JOB CREATORS PERIOD. AND THAT IS THE PURPOSE OF THIS BILL. THAT IS THE PURPOSE OF THIS TITLE IS TO SUPPORT THOSE THAT ARE ACTUALLY CREATING JOBS IN AN ECONOMY WHERE WE NEED JOBS DESPERATELY. THE OTHER POINT I WOULD MAKE IS TO REITERATE AGAIN WHAT THE CHAIRMAN SAID, AND THAT IS, TITLE 4 IS VOLUNTARY. IT IS OPTIONAL. IF IT IS GOOD FOR THE COMPANY THEN THE COMPANY CAN CHOOSE TO CONTINUE TO SUBMIT THIS INFORMATION IN THAT FORMAT. IF THE COMPANY DOESN'T BELIEVE IT IS IN ITS BEST INTEREST AND THERE IS NOT VALUE TO IT AND TO POTENTIAL INVESTOR, THEN IT IS SOMETHING THEY SHOULD NOT HAVE TO BE -- TO WASTE TIME ON. AND THE SECOND POINT IS, IT IS COMPLETELY TEMPORARY. IT IS A COMPLETELY TEMPORARY EXEMPTION THAT WILL EXPIRE IN FIVE YEARS. I AGREE THAT WHERE WE WANT TO GO IN TERMS OF THE TECHNOLOGY, BUT ASKING THESE SMALL COMPANIES WHO ARE OUR NATION'S MOST DYNAMIC JOB CREATORS TO WASTE THEIR RESOURCES ON A SYSTEM THAT'S NOT YET USEFUL TO THEM OR THEIR INVESTORS IS SOMETHING WE SHOULD NOT STAND FOR. WITH THAT, I ASK MY COLLEAGUES TO OPPOSE THIS AMENDMENT AND YIELD BACK THE BALANCE OF THE TIME.

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  • 04:07:16 PM

    THE CHAIR

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE QUESTION IS ON THE…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEWOMAN FROM NEW YORK. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. IN THE OPINION OF THE CHAIR, THE NOES HAVE IT. THE AMENDMENT IS NOT AGREED TO.

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  • 04:07:30 PM

    MR. ELLISON

    MR. SPEAKER, WE ASK FOR A RECORDED VOTE.

  • 04:07:33 PM

    THE CHAIR

    PURSUANT TO CLAUSE 6 OF RULE 18, FURTHER PROCEEDINGS ON THE AMENDMENT…

    PURSUANT TO CLAUSE 6 OF RULE 18, FURTHER PROCEEDINGS ON THE AMENDMENT OFFERED BY THE GENTLEWOMAN FROM NEW YORK WILL BE POSTPONED. PURSUANT TO CLAUSE 6 OF RULE 18, PROCEEDINGS WILL NOW RESUME ON THOSE AMENDMENTS PRINTED IN PART A OF HOUSE REPORT 114-414 ON WHICH FURTHER PROCEED WRGS POSTPONED IN THE FOLLOWING ORDER. AMENDMENT NUMBER ONE BY MR. DESULL NAY OF CALIFORNIA, AMENDMENT NUMBER 6 BY MR. ISSA OF CALIFORNIA, AMENDMENT NUMBER 7 BY MRS. MALONEY OF NEW YORK. THE CHAIR WILL REDUCE TO TWO MINUTES THE TIME FOR ANY ELECTRONIC VOTE AFTER THE FIRST VOTE IN THIS SERIES. THE UNFINISHED BUSINESS IS THE REQUESTER IF A RECORDED VOTE ON AMENDMENT NUMBER 1 PRINTED IN HOUSE REPORT 114-414, BY THE GENTLEMAN FROM CALIFORNIA, MR. DEIS ALLNARY, ON WHICH THE NOES PREVAILED BY VOICE VOTE. THE CLERK WILL REPORT THE AMENDMENT.

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  • 04:08:32 PM

    THE CLERK

    AMENDMENT NUMBER 1 PRINTED IN HOUSE REPORT 114-414, OFFERED BY MR.…

    AMENDMENT NUMBER 1 PRINTED IN HOUSE REPORT 114-414, OFFERED BY MR. DESAULNIER OF CALIFORNIA.

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  • 04:08:39 PM

    THE CHAIR

    THOSE IN SUPPORT OF THE REQUEST FOR A RECORDED VOTE WILL RISE AND BE…

    THOSE IN SUPPORT OF THE REQUEST FOR A RECORDED VOTE WILL RISE AND BE COUNTED. A SUFFICIENT NUMBER HAVING RISEN, A RECORDED VOTE IS ORDERED. MEMBERS WILL RECORD THEIR VOTES BY ELECTRONIC DEVICE. THIS WILL BE A 15-MINUTE VOTE. [CAPTIONING MADE POSSIBLE BY THE NATIONAL CAPTIONING INSTITUTE, INC., IN COOPERATION WITH THE UNITED STATES HOUSE OF REPRESENTATIVES. ANY USE OF THE CLOSED-CAPTIONED COVERAGE OF THE HOUSE PROCEEDINGS FOR POLITICAL OR COMMERCIAL PURPOSES IS EXPRESSLY PROHIBITED BY THE U.S. HOUSE OF REPRESENTATIVES.]

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  • 04:28:51 PM

    THE CHAIR

    ON THIS VOTE THE YEAS ARE 180. THE NAYS ARE 243 AND THE AMENDMENT IS NOT…

    ON THIS VOTE THE YEAS ARE 180. THE NAYS ARE 243 AND THE AMENDMENT IS NOT ADOPTED. THE UNFINISHED BUSINESS IS THE REQUEST FOR A RECORDED VOTE ON AMENDMENT NUMBER 6 PRINTED IN PART A OF HOUSE REPORT 114-414 BY THE GENTLEMAN FROM CALIFORNIA, MR. ISSA, ON WHICH FURTHER PROCEEDINGS WERE POSTPONED AND ON WHICH THE NOES PREVAILED BY VOICE VOTE. THE CLERK WILL REDESIGNATE THE AMENDMENT.

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  • 04:29:16 PM

    THE CLERK

    AMENDMENT NUMBER 6 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY…

    AMENDMENT NUMBER 6 PRINTED IN PART A OF HOUSE REPORT 114-414 OFFERED BY MR. ISSA OF CALIFORNIA.

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  • 04:29:23 PM

    THE CHAIR

    A RECORDED VOTE HAS BEEN REQUESTED. THOSE IN SUPPORT OF THE REQUEST FOR A…

    A RECORDED VOTE HAS BEEN REQUESTED. THOSE IN SUPPORT OF THE REQUEST FOR A RECORDED VOTE WILL RISE AND BE COUNTED. A SUFFICIENT NUMBER HAVING ARISEN, A RECORDED VOTE IS ORDERED. MEMBERS WILL RECORD THEIR VOTES BY ELECTRONIC DEVICE. THIS WILL BE A TWO-MINUTE VOTE. [CAPTIONING MADE POSSIBLE BY THE NATIONAL CAPTIONING INSTITUTE, INC., IN COOPERATION WITH THE UNITED STATES HOUSE OF REPRESENTATIVES. ANY USE OF THE CLOSED-CAPTIONED COVERAGE OF THE HOUSE PROCEEDINGS FOR POLITICAL OR COMMERCIAL PURPOSES IS EXPRESSLY PROHIBITED BY THE U.S. HOUSE OF REPRESENTATIVES.]

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  • 04:32:39 PM

    THE CHAIR

    ON THIS VOTE, THE YEAS ARE 194. THE NAYS ARE 221. THE AMENDMENT IS NOT…

    ON THIS VOTE, THE YEAS ARE 194. THE NAYS ARE 221. THE AMENDMENT IS NOT ADOPTED. THE UNFINISHED BUSINESS IS THE REQUEST FOR A RECORDED VOTE ON AMENDMENT NUMBER 7 PRINTED IN PART A OF HOUSE REPORT 114-414 BY THE GENTLEWOMAN FROM NEW YORK, MRS. MALONEY, ON WHICH FURTHER PROCEED WRGS POSTPONED AND ON WHICH THE NOES PREVAILED BY A VOICE VOTE. THE CLERK WILL REDESIGNATE THE AMENDMENT.

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  • 04:33:07 PM

    THE CLERK

    AMENDMENT NUMBER 7 PRINTED IN PART A OF HOUSE REPORT 114-414, OFFERED BY…

    AMENDMENT NUMBER 7 PRINTED IN PART A OF HOUSE REPORT 114-414, OFFERED BY MRS. CAROLYN MALONEY OF NEW YORK.

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  • 04:33:14 PM

    THE CHAIR

    A RECORDED VOTE HAS BEEN REQUESTED. THOSE IN SUPPORT OF THE REQUEST FOR A…

    A RECORDED VOTE HAS BEEN REQUESTED. THOSE IN SUPPORT OF THE REQUEST FOR A RECORDED VOTE WILL RISE AND BE COUNTED. A SUFFICIENT NUMBER HAVING RISEN A RECORDED VOTE IS ORDERED. MEMBERS WILL RECORD THEIR VOTES BY ELECTRONIC DEVICE. THIS WILL BE A TWO-MINUTE VOTE. [CAPTIONING MADE POSSIBLE BY THE NATIONAL CAPTIONING INSTITUTE, INC., IN COOPERATION WITH THE UNITED STATES HOUSE OF REPRESENTATIVES. ANY USE OF THE CLOSED-CAPTIONED COVERAGE OF THE HOUSE PROCEEDINGS FOR POLITICAL OR COMMERCIAL PURPOSES IS EXPRESSLY PROHIBITED BY THE U.S. HOUSE OF REPRESENTATIVES.]

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  • 04:36:22 PM

    THE CHAIR

    ON THIS VOTE THE YEAS ARE 173RKS THE NAYS ARE 248. THE AMENDMENT IS NOT…

    ON THIS VOTE THE YEAS ARE 173RKS THE NAYS ARE 248. THE AMENDMENT IS NOT ADOPTED. THE QUESTION IS ON THE AMENDMENT IN THE NATURE OF A SUBSTITUTE AS AMENDED. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THE AMENDMENT IS ADOPTED. ACCORDINGLY, UNDER THE RULE, THE COMMITTEE RISES.

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  • 04:37:01 PM

    THE CHAIR

    MR. SPEAKER, THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION…

    MR. SPEAKER, THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION HAS HAD UNDER CONSIDERATION H.R. 1675 AN PURSUANT TO HOUGS RESOLUTION 595, I REPORT THE BILL BACK TO THE HOUSE WITH AN AMENDMENT ADOPTED IN THE COMMITTEE OF THE WHOLE.

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  • 04:37:29 PM

    THE HOUSE WILL BE IN ORDER. THE CHAIR OF THE COMMITTEE OF THE WHOLE HOUSE…

    THE HOUSE WILL BE IN ORDER. THE CHAIR OF THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION REPORTS THAT THE COMMITTEE HAS HAD UNDER CONSIDERATION THE BILL H.R. 1675 AND PURSUANT TO HOUSE RESOLUTION 595 REPORTS THE BILL BACK TO THE HOUSE WITH AN AMENDMENT ADOPTED IN THE COMMITTEE OF THE WHOLE. UNDER THE RULE, THE PREVIOUS QUESTION IS ORDERED. IS A SEPARATE VOTE DEMANDED ON THE AMENDMENT TO THE AMENDMENT REPORT FLED COMMITTEE OF THE WHOLE? IF NOT, THE QUESTION IS ON ADOPTION OF THE AMENDMENT IN THE NATURE OF A SUBSTITUTE AS AMENDED. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THE AMENDMENT IS AGREED. TO THE QUESTION IS ON ENGROSSMENT AND THIRD READING OF THE BILL. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THIRD READING.

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  • 04:38:18 PM

    THE CLERK

    A BILL TO DIRECT THE SECURITIES AND EXCHANGE COMMISSION TO REREVISE THE…

    A BILL TO DIRECT THE SECURITIES AND EXCHANGE COMMISSION TO REREVISE THE TOOLS TO INCREASE THE THRESHOLD AMOUNT FOR REQUIRING ISSUERS TO PROVIDE CERTAIN DISCLOSURES RELATING TO COMPENSATORY BENEFIT PLANS.

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  • 04:38:40 PM

    THE SPEAKER PRO TEMPORE

    THE HOUSE WILL COME TO ORDER. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM…

    THE HOUSE WILL COME TO ORDER. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM FLORIDA SEEK RECOGNITION?

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  • 04:38:57 PM

    >>

    I HAVE A MOTION TO RECOMMIT AT THE DESK.

  • 04:39:00 PM

    THE SPEAKER PRO TEMPORE

    IS THE GENTLEWOMAN OPPOSED TO THE BILL?

  • 04:39:03 PM

    >>

    I AM IN ITS CURRENT FORM.

  • 04:39:05 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEWOMAN QUALIFIES.

  • 04:39:10 PM

    THE CLERK

    MS. FRAN TELL OF FLORIDA --

  • 04:39:12 PM

    MS. FRANKEL

    I REQUEST THE READING BE DISPENSED WITH.

  • 04:39:16 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION, THE READING IS DISPENSED WITH.

  • 04:39:21 PM

    MS. FRANKEL

    THIS IS THE FINAL AMENDMENT TO THE BILL WHICH WILL NOT KILL THE BILL OR…

    THIS IS THE FINAL AMENDMENT TO THE BILL WHICH WILL NOT KILL THE BILL OR SEND IT BACK TO COMMITTEE.

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  • 04:39:27 PM

    >>

    THE HOUSE IS NOT IN ORDER.

  • 04:39:30 PM

    IF ADOPTED, THE BILL WILL IMMEDIATELY PROCEED TO FINAL PASSAGE AS AMENDED.…

    IF ADOPTED, THE BILL WILL IMMEDIATELY PROCEED TO FINAL PASSAGE AS AMENDED. MR. SPEAKER , IN A BIPARTISAN SPIRIT, I OFFER A MOTION TO RECOMMIT IN ORDER TO MAKE NEEDED IMPROVEMENTS TO THE CURRENT PROPOSAL. LET ME START WITH THE STORY OF CHARLES NOTED IN "THE STREET" A FINANCIAL NEWS SERVICE HE GREW UP IN PUEBLO, COLORADO. HE WAS AN ACCOMPLISHED MUSICIAN, TAUGHT MUSIC FOR OVER 30 YEARS AND BROUGHT JOY TO AUDIENCES ACROSS OUR COUNTRY FROM DISNEY WORLD IN ORLANDO TO THE VENETIAN IN LAS VEGAS. EVEN PERFORMED ALONGSIDE THE FAMED TENOR, PAVAROTTI. MOST IMPORTANTLY, CHARLES WAS A LOVING FATHER --

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  • 04:40:19 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLELADY WILL SUSPEND. CAN WE HAVE THE HOUSE IN ORDER. THE HOUSE…

    THE GENTLELADY WILL SUSPEND. CAN WE HAVE THE HOUSE IN ORDER. THE HOUSE WILL BE IN ORDER.

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  • 04:40:26 PM

    MOST IMPORTANTLY -- ALL RIGHT. MOST IMPORTANTLY, CHARLES WAS THE LOVING…

    MOST IMPORTANTLY -- ALL RIGHT. MOST IMPORTANTLY, CHARLES WAS THE LOVING FATHER OF THREE CHILDREN AND SEVEN GRANDCHILDREN. AT AGE 73, AS CHARLES LAY DYING OF PANCREATIC CANCER IN A HOSPITAL BED IN LAS VEGAS HE CALLED HIS FINANCIAL AFFAIRS MANAGER --

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  • 04:40:54 PM

    >>

    THE HOUSE IS NOT IN ORDER.

  • 04:40:58 PM

    THE SPEAKER PRO TEMPORE

    THE HOUSE WILL BE IN ORDER. WILL THE GENTLELADY SUSPEND.

  • 04:41:16 PM

    ALL RIGHT. NOW PLEASE PAY ATTENTION. I'M ABOUT TO GET SERIOUS HERE. WE'RE…

    ALL RIGHT. NOW PLEASE PAY ATTENTION. I'M ABOUT TO GET SERIOUS HERE. WE'RE TALKING ABOUT CHARLES, AT AGE 73, AS HE LAY DYING OF PANCREATIC CANCER IN A HOSPITAL BED IN LAS VEGAS, HE CALLED HIS FINANCIAL AFFAIRS MANAGER TO HIS BEDSIDE TO DISCUSS HIS INVESTMENTS AND PUT HIS FINAL AFFAIRS IN ORDER. AS THE MORPHINE DRIP WAS WORKING TO EASE HIS PAIN, CHARLES' FINANCIAL ADVISOR PERSUADED HIM TO INVEST $82,000 IN A COCOA AND BANANA PLANTATION IN EBLING WHAT DOR. CHARLES GAVE THE ADVISOR THE KEYS TO HIS HOUSE TO GET HIS CHECKBOOK AND IN A MATTER OF MOMENTS, HIS MONEY WAS GONE. FINANCIAL FRAUD AGAINST OUR SENIORS CUTS DEEP. SADLY, THERE ARE MANY MORE OUT THERE LIKE CHARLES. ONE IN FIVE AMERICANS OVER AGE 65 HAVE BEEN VICTIMIZED BY FINANCIAL FRAUD. THIS EQUATES TO SENIORS LOSING NEARLY $13 BILLION A YEAR DUE TO FINANCIAL FRAUD. AND I AM SAD TO REPORT TO YOU THAT CLOSE TO A MILLION SENIORS ARE CURRENTLY FOR GOING MEALS AS A RESULT OF ECONOMIC -- CURRENTLY FORGOING MEALS AS A RESULT OF ECONOMIC HARDSHIP DUE TO FRAUD AND ABUSE AND THIS MAY GET WORSE AS AMERICANS LIVE LONGER. HERE'S THE THING. THE BILL THAT MY COLLEAGUES ON THE OTHER SIDE OF THE AISLE BRING TO US TODAY SHIELDS ABUSERS LIKE CHARLES' SO-CALLED FINANCIAL ADVISOR AND STRIPS CONGRESS OF THE POWER TO PROTECT OUR GRANDMOTHERS AND GRANDFATHERS FROM CON ARTISTS WHO SWINDLE THEM. MR. SPEAKER, MY MOTION TO RECOMMIT WOULD PRESERVE DECADES OF S.E.C. CONSUMER PROTECTION DESIGNED TO HELP FOLKS JUST LEEK CHARLES. IT WOULD ENSURE THAT THOSE CRIMINALS WHO PREY ON SENIORS WILL BE HELD ACCOUNTABLE. AND MY AMENDMENT ADDS SOMETHING TO THIS LEGISLATION THAT EVERY PERSON IN THIS CHAMBER, DEMOCRAT AND REPUBLICAN, SHOULD WANT TO DO AND GET BEHIND. STRONGER PROTECTIONS FOR THE PEOPLE WHO HELD US IN THEIR ARMS WHEN WE WERE YOUNG, THAT SHELTERED US AND SHARED THEIR WISDOM WITH US AS WE GREW, AS THEY PROTECTED US, WE MUST PROTECT THEM. I URGE MY COLLEAGUES TO VOTE YES AND I YIELD MY TIME BACK.

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  • 04:44:09 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLELADY YIELDS BACK. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS…

    THE GENTLELADY YIELDS BACK. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS RISE?

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  • 04:44:15 PM

    MR. HENSARLING

    I RISE TO CLAIM TIME IN OPPOSITION.

  • 04:44:17 PM

    THE CHAIR

    THE GENTLEMAN IS RECOGNIZED FOR FIVE MINUTES. MR. --

  • 04:44:20 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN IS RECOGNIZED FOR FIVE MINUTES.

  • 04:44:24 PM

    MR. HENSARLING

    THAT WAS A HEARTBREAKING STORY AND I HAVE NO DOUBT THAT IT IS TRUE BUT I…

    THAT WAS A HEARTBREAKING STORY AND I HAVE NO DOUBT THAT IT IS TRUE BUT I WOULD URGE THE GENTLELADY TO PERHAPS ACTUALLY READ THE BILL. UNLIKE OBAMACARE, UNLIKE DODD-FRANK --

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  • 04:44:41 PM

    >>

    THE HOUSE IS NOT IN ORDER.

  • 04:44:45 PM

    THE SPEAKER PRO TEMPORE

    THE HOUSE IS NOT IN ORDER.

  • 04:44:48 PM

    PERHAPS IF THE GENTLELADY READ THE BILL WHICH IS 20 PAGES, NOT 2,000…

    PERHAPS IF THE GENTLELADY READ THE BILL WHICH IS 20 PAGES, NOT 2,000 PAGES, SHE WOULD UNDERSTAND THAT H.R. 1675 HAS NOTHING TO DO WITH HER STORY. FRAUD ILLEGAL. -- FRAUD IS ILLEGAL. I REPEAT, FRAUD IS ILLEGAL. IF ONE IS CONVICTED OF A FELONY UNDER THE SECURITIES AND EXCHANGE COMMISSION -- UNDER THE SECURITIES AND EXCHANGE ACT OF 34, THERE IS A STATUTORY PROHIBITION FROM DOING WHAT SHE HAS DESCRIBED SYSTEM OF MR. SPEAKER, AT BEST, THIS IS A DUPLICATIVE AMENDMENT. IT IS A SUPERFLUOUS AMENDMENT, AND IT TAKES AWAY FROM THE FACT THAT UNDER EIGHT YEARS OF OBAMANOMICS, THIS ECONOMY IS NOT WORKING FOR WORKING PEOPLE, IT IS TIME TO HELP OUR SMALL BUSINESSES. IT IS TIME TO HELP OUR GROWTH COMPANIES. IT IS TIME TO PUT AMERICA BACK TO WORK. AND IT IS TIME TO REJECT THE MOTION TO RECOMMIT AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 04:45:58 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK. WITHOUT OBJECTION THE PREVIOUS QUESTION IS…

    THE GENTLEMAN YIELDS BACK. WITHOUT OBJECTION THE PREVIOUS QUESTION IS ORDERED. THE QUESTION IS ON THE MOTION TO RECOMMIT. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE NOES HAVE IT.

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  • 04:46:18 PM

    MS. FRANKEL

    I REQUEST A RECORDED VOTE.

  • 04:46:19 PM

    THE SPEAKER PRO TEMPORE

    A RECORDED VOTE IS REQUESTED. THOSE FAVORING A VORDED VOTE WILL RISE. -- A…

    A RECORDED VOTE IS REQUESTED. THOSE FAVORING A VORDED VOTE WILL RISE. -- A RECORDED VOTE WILL RISE. A SUFFICIENT NUMBER HAVING RISEN, A RECORDED VOTE IS ORDERED. MEMBERS WILL RECORD THEIR VOTES BY ELECTRONIC DEVICE. PURSUANT TO CLAUSE 9 OF RULE 20, THE CHAIR WILL REDUCE TO FIVE MINUTES THE MINIMUM TIME FOR ANY ELECTRONIC VOTE ON THE QUESTION OF PASSAGE. S THAT FIVE-MINUTE VOTE. [CAPTIONING MADE POSSIBLE BY THE NATIONAL CAPTIONING INSTITUTE, INC., IN COOPERATION WITH THE UNITED STATES HOUSE OF REPRESENTATIVES. ANY USE OF THE CLOSED-CAPTIONED COVERAGE OF THE HOUSE PROCEEDINGS FOR POLITICAL OR COMMERCIAL PURPOSES IS EXPRESSLY PROHIBITED BY THE U.S. HOUSE OF REPRESENTATIVES.]

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  • 04:53:35 PM

    THE SPEAKER PRO TEMPORE

    ON THIS VOTE THE YEAS ARE 184 AND THE NAYS ARE 241. WITH NO ANSWERING IN…

    ON THIS VOTE THE YEAS ARE 184 AND THE NAYS ARE 241. WITH NO ANSWERING IN THE PRESENT, THE MOTION IS NOT -- IS ADOPTED -- IS NOT ADOPTED. THE QUESTION IS ON PASSAGE OF THE BILL. THOSE IN FAVOR, PLEASE SAY AYE. THOSE OPPOSED SAY NAY. THE AYES HAVE IT. THE BILL IS PASSED AND WITHOUT OBJECTION --

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  • 04:53:59 PM

    MR. HENSARLING

    MR. SPEAKER, ON THAT I REQUEST THE YEAS AND NAYS.

  • 04:54:03 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN FROM TEXAS.

  • 04:54:05 PM

    MR. HENSARLING

    I REQUEST THE YEAS AND NAYS.

  • 04:54:06 PM

    THE SPEAKER PRO TEMPORE

    THE YEAS AND NAYS ARE REQUESTED. THOSE FAVORING A VOTE BY THE YEAS AND…

    THE YEAS AND NAYS ARE REQUESTED. THOSE FAVORING A VOTE BY THE YEAS AND NAYS WILL RISE. A SUFFICIENT NUMBER HAVING ARISEN, THE YEAS AND NAYS ARE ORDERED. MEMBERS WILL RECORD THEIR VOTES BY ELECTRONIC DEVICE. THIS WILL BE A FIVE-MINUTE VOTE . [CAPTIONING MADE POSSIBLE BY THE NATIONAL CAPTIONING INSTITUTE, INC., IN COOPERATION WITH THE UNITED STATES HOUSE OF REPRESENTATIVES. ANY USE OF THE CLOSED-CAPTIONED COVERAGE OF THE HOUSE PROCEEDINGS FOR POLITICAL OR COMMERCIAL PURPOSES IS EXPRESSLY PROHIBITED BY THE U.S. HOUSE OF REPRESENTATIVES.]

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  • 04:59:50 PM

    THE SPEAKER PRO TEMPORE

    ON THIS VOTE THE YEAS ARE 265 AND THE NAYS ARE 159. THE BILL IS PASSED.…

    ON THIS VOTE THE YEAS ARE 265 AND THE NAYS ARE 159. THE BILL IS PASSED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE.

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  • 05:00:08 PM

    THE SPEAKER PRO TEMPORE

    FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM MICHIGAN RISE?

  • 05:00:11 PM

    >>

    MR. SPEAKER, I ASK UNANIMOUS CONSENT TO TAKE FROM THE SPEAKER'S DESK…

    MR. SPEAKER, I ASK UNANIMOUS CONSENT TO TAKE FROM THE SPEAKER'S DESK SENATE CONCURRENT RESOLUTION 28 AND ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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  • 05:00:21 PM

    THE SPEAKER PRO TEMPORE

    THE CLERK WILL REPORT THE TITLE OF THE CONCURRENT RESOLUTION.

  • 05:00:26 PM

    THE CLERK

    CONCURRENT RESOLUTION TO ESTABLISH THE JOINT COMMITTEE ON INAUGURAL…

    CONCURRENT RESOLUTION TO ESTABLISH THE JOINT COMMITTEE ON INAUGURAL CEREMONIES FOR THE PRESIDENT-ELECT AND VICE PRESIDENT-ELECT ON JANUARY 20, 20717.

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  • 05:00:39 PM

    THE SPEAKER PRO TEMPORE

    IS THERE OBJECTION TO THE CONCURRENT RESOLUTION? WOIKS, THE CURRENT…

    IS THERE OBJECTION TO THE CONCURRENT RESOLUTION? WOIKS, THE CURRENT RESOLUTION IS AGREED TO AND THE MOTION TO RECONSIDER IS LAID ON THE TABLE. WILL THE HOUSE BE IN ORDER. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM MICHIGAN RISE?

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  • 05:01:05 PM

    >>

    I ASK UNANIMOUS CONSENT TO TAKE FROM THE SPEAKER'S DESK SENATE RESOLUTION…

    I ASK UNANIMOUS CONSENT TO TAKE FROM THE SPEAKER'S DESK SENATE RESOLUTION 29 AND ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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  • 05:01:14 PM

    THE CLERK

    SENATE CONCURRENT RESOLUTION 29, CONCURRENT RESOLUTION TO AUTHORIZE THE…

    SENATE CONCURRENT RESOLUTION 29, CONCURRENT RESOLUTION TO AUTHORIZE THE USE OF THE ROTUNDA BY THE INAUGURAL CEREMONIES IN CONNECTION WITH THE PROCEEDINGS AND CEREMONIES FOR THE INAUGURATION OF PRESIDENT-ELECT AND VICE PRESIDENT-ELECT OF THE UNITED STATES.

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  • 05:01:34 PM

    THE SPEAKER PRO TEMPORE

    IS THERE OBJECTION TO THE CONSIDERATION OF THE CONCURRENT RESOLUTION?…

    IS THERE OBJECTION TO THE CONSIDERATION OF THE CONCURRENT RESOLUTION? WITHOUT OBJECTION, THE CONCURRENT RESOLUTION IS AGREED TO AND THE MOTION TO RECONSIDER IS LAID ON THE TABLE. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM MICHIGAN RISE?

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  • 05:01:48 PM

    >>

    THE CLERK WILL REPORT THE CONCURRENT RESOLUTION.

  • 05:01:59 PM

    THE SPEAKER PRO TEMPORE

    CLERK WILL REPORT THE CONCURRENT RESOLUTION.

  • 05:02:03 PM

    THE CLERK

    CONCURRENT RESOLUTION IN THE USE OF EMANCIPATION HALL AND THE VISITOR'S…

    CONCURRENT RESOLUTION IN THE USE OF EMANCIPATION HALL AND THE VISITOR'S CEREMONY TO PRESENT THE CONGRESSIONAL GOLD MEDAL TO THE SELMA TO MONTGOMERY MARRIES?

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  • 05:02:20 PM

    THE SPEAKER PRO TEMPORE

    IS THERE OBJECTION? WITHOUT OBJECTION, THE CONCURRENT RESOLUTION IS AGREED…

    IS THERE OBJECTION? WITHOUT OBJECTION, THE CONCURRENT RESOLUTION IS AGREED TO AND THE MOTION TO RECONSIDER TO RECONSIDER IS LAID ON THE TABLE.

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  • 05:02:29 PM

    >>

    I ASK UNANIMOUS CONSENT THAT WHEN THE HOUSE ADJOURNS TODAY IT ADJOURNS TO…

    I ASK UNANIMOUS CONSENT THAT WHEN THE HOUSE ADJOURNS TODAY IT ADJOURNS TO MEET AT 10:00 A.M. TOMORROW.

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  • 05:02:37 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION. SO ORDERED. THE CHAIR LAYS BEFORE THE HOUSE A MESSAGE.

  • 05:02:53 PM

    THE CLERK

    TO THE CONGRESS OF THE UNITED STATES, SECTION 202-D OF THE NATIONAL…

    TO THE CONGRESS OF THE UNITED STATES, SECTION 202-D OF THE NATIONAL EMERGENCY ACT 50 U.S.C. PROVIDES FOR THE AUTOMATIC TERMINATION OF A NATIONAL EMERGENCY UNLESS PRIOR TO THE ANNIVERSARY DATE OF ITS DECLARATION, THE PRESIDENT PUBLISHES IN THE FEDERAL REGISTER AND TRANTS MYTHS TO THE UNITED STATES CONGRESS THAT THE EMERGENCY IS TO CONTINUE. IN ACCORDANCE WITH THIS PROVISION I HAVE ENCLOSED THE NOTICE STATING THAT THE NATIONAL EMERGENCY DECLARED IN EXECUTIVE ORDER 13396 OF FEBRUARY 2, 2006 IN RELATION TO CONTINUE IN EFFECT BEYOND FEBRUARY 7, 2016. THE GOVERNMENT AND ITS PEOPLE CONTINUE TO MAKE SIGNIFICANT PROGRESS AND PROMOTION OF DEMOCRATIC, SOCIAL AND ECONOMIC DEVELOPMENT. WE CONGRATULATE ON HOLDING A PEACEFUL AND CREDIBLE PRESIDENTIAL ELECTION WHICH REPRESENTS A MILESTONE. THE UNITED STATES ALSO SUPPORTS THE ADVANCEMENT OF NATIONAL RECONCILIATION AND IMPARTIALAL JUSTICE. THE UNITED STATES IS COMMITTED TO HELP THEM STRENGTHEN ITS DEMOCRACY AND STAY ON THE PATH OF PEACEFUL DEMOCRATIC TRANSIG SITUATIONS AND WE LOOK FORWARD TO WORKING WITH THE PEOPLE TO ENSURE CONTINUED PROGRESS AND LASTING PEACE FOR ALL OF THE PEOPLE. WHILE THE GOVERNMENT AND ITS PEOPLE CONTINUE TO MAKE PROGRESS TOWARDS CONSOLIDATING GAINS AND PEACE AND PROSPERITY, THE SITUATION IN RELATION TO THIS COUNTRY CONTINUES TO IMPOSE A THREAT TO THE NATIONAL SECURITY AND FOREIGN POLICY OF THE UNITED STATES. FOR THIS REASON, I HAVE DETERMINED THAT IT IS NECESSARY TO CONTINUE THE NATIONAL EMERGENCY AND RELATED MEASURES BLOCKING THE PROPERTY OF CERTAIN PERSONS. SIGNED BARACK OBAMA, THE WHITE HOUSE, FEBRUARY 3, 2016.

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  • 05:05:08 PM

    TEMPORE RE

    REFERRED TO THE COMMITTEE ON FOREIGN AFFAIRS AND ORDERED PRINTED.

  • 05:05:13 PM

    THE SPEAKER PRO TEMPORE

    THE CHAIR WILL ENTERTAIN REQUESTS FOR ONE-MINUTE SPEECHES. FOR WHAT…

    THE CHAIR WILL ENTERTAIN REQUESTS FOR ONE-MINUTE SPEECHES. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM PENNSYLVANIA SEEK RECOGNITION?

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  • 05:05:23 PM

    MR. THOMPSON

    REQUEST UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE AND RESIZE…

    REQUEST UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE AND RESIZE AND EXTEND.

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  • 05:05:29 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION. THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

  • 05:05:32 PM

    THOMPSON: THANK YOU, MADAM SPEAKER. AS CO-CHAIRMAN OF THE BIPARTISAN…

    THOMPSON: THANK YOU, MADAM SPEAKER. AS CO-CHAIRMAN OF THE BIPARTISAN CAREER AND TECHNICAL EDUCATION CAUCUS, I RECOGNIZE THE SOUTH HILL SCHOOL OF BUSINESS AND TECHNOLOGY WHICH HAS CAMPUSES IN PENNSYLVANIA'S 5TH CONGRESSIONAL DISTRICT. I WAS NOTIFIED BY SCHOOL OFFICIALS THAT THEY HAVE PLACED 86% OF THEIR 2014 GRADUATES IN JOBS WITHIN THEIR FIELDS OF STUDY. THAT STATISTIC IS 10% HIGHER THAN THE OCCUPATIONAL PLACEMENT RATE. IT ACHIEVED A JOB PLACEMENT RATE CLOSE TO 100% OF GRADUATES OF THE CRIMINAL JUSTICE, BUSINESS OFFICE SPECIALIST AND MEDICAL ASSISTANT PROGRAMS. THIS IS FURTHER EVIDENCE THAT CAREERS IN OUR TECHNICAL EDUCATION FIELDS ARE IN DEMAND AND SERVES AS A REMINDER FOR HIGH SCHOOL STUDENTS ACROSS THE NATION THAT A TECHNICAL EDUCATION IS A GREAT OPTION. THE SOUTH HILL SCHOOL OF BUSINESS AND TECHNOLOGY IS ONE EXAMPLE OF HOW THESE INSTITUTIONS CREATE JOB-READY EMPLOYEES. THANK YOU, MADAM SPEAKER. AND I YIELD BACK.

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  • 05:06:46 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. FOR WHAT PURPOSE DOES…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM KENTUCKY SEEK RECOGNITION?

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  • 05:06:55 PM

    REQUEST UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE. I RISE…

    REQUEST UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE. I RISE TODAY TO CELEBRATE THE LIFE AND SERVICE OF GEORGIA DAVIS POWERS FROM MY HOMETOWN. SENATOR POWERS PASSED AWAY EARLY SATURDAY MORNING LEAVES BEHIND A CITY AND COMMONWEALTH THAT OFFER MORE OPPORTUNITIES BECAUSE OF HER DEDICATION TO THE FIGHT FOR JUSTICE. GENERATIONS HAVE BENEFITED FROM THE SACRIFICES SHE MADE AND THE TRAILS SHE BLAZED AS THE FIRST WOMAN AND FIRST AFRICAN-AMERICAN LEGITIMATED TO THE KENTUCKY SENATE. AS WE CREATE A MORE EQUAL AND JUST SOCIETY, HER INSPIRATION WILL CONTINUE TO LIFT US AND SHOW US THE WAY. LOUISVILLE HAS LOST A GREAT CHAMPION, BUT HER LEGACY WILL LIVE ON FOREVER. I'M HONORED TOVILLE CALLED SENATOR POWERS A FRIEND AND SHE CALLED KENTUCKY HOME. I YIELD BACK.

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  • 05:07:55 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. FOR WHAT PURPOSE DOES…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM MISSOURI SEEK RECOGNITION?

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  • 05:08:01 PM

    >>

    PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE.

  • 05:08:05 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION.

  • 05:08:07 PM

    THANK YOU. I RISE TODAY TO HONOR AND THANK MR. GARY FOLKS FOR HIS WORK AND…

    THANK YOU. I RISE TODAY TO HONOR AND THANK MR. GARY FOLKS FOR HIS WORK AND SERVICE TO MISSOURI'S FOURTH DISTRICT. HE IS RETIRING FROM SHOW ME ELECTRIC COOPERATIVE AFTER 42 YEARS OF PROVIDING ENERGY TO COMMUNITIES FROM SAN DIEGO TO SOUTH CENTRAL MISSOURI. HE HAS BEEN AN OUTSPOKEN LEADER FOR RELIABLE ENERGY SERVING ON THE TRANSMISSION TASK FORCE, SOUTHWEST POWER POOL, ENGINEERING AND OPERATIONS COMMITTEE, THE EXECUTIVE COMMITTEE OF THE SOUTHEASTERN RELIABILITY COUNCIL. HE HAS BEEN PIVOTAL TO ENACTING PROGRAMS THAT ARE COST EFFECTIVE AND INNOVATIVE WHICH HAVE BENEFITED MEMBERS AND CO-OP EMPLOYEES. THEY ARE MEETING THE GROWING NEEDS AND PROVIDING WHOLE SALE POWER. INCREASING HIS IMPACT ON THE REGION, HE HAS HELPED STOPPED AND OPERATE SHOW ME TECHNOLOGIES WHICH MAKES FIBER OPTIC ENERGY. THANK YOU ONCE AGAIN, GARY, FOR YOUR DEVOTION AND WORK FOR THE BENEFIT OF THE FOURTH DISTRICT. YOU ARE AN EXAMPLE OF THE LEADERSHIP THIS COUNTRY NEEDS. I KNOW YOU WILL BENEFIT MISSOURI AND THIS NATION. I YIELD BACK.

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  • 05:09:35 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEWOMAN YIELDS BACK. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM…

    THE GENTLEWOMAN YIELDS BACK. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM TEXAS SEEK RECOGNITION?

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  • 05:09:42 PM

    MR. POE

    I ASK TO REVISE AND EXTEND MY REMARKS.

  • 05:09:46 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION. GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

  • 05:09:49 PM

    POE: THE CONSTITUTION IS CLEAR. CONGRESS SHALL MAKE THE LAW. THE JUDICIARY…

    POE: THE CONSTITUTION IS CLEAR. CONGRESS SHALL MAKE THE LAW. THE JUDICIARY INTERPRETS THE LAW AND THE EXECUTIVE ENFORCES THE LAW. THE PRESIDENT, HOWEVER, SEEMS TO THINK HE CAN MAKE AND INTERPRET LAW. LAST YEAR, CONGRESS PASSED THE VISA WAIVER IMPROVEMENT AND TERRORIST TRAVEL PREVENTION ACT. IT REQUIRES FOREIGN NATIONALS FROM CERTAIN COUNTRIES TO OBTAIN A VISA BEFORE COMING TO THE UNITED STATES. NOW THE ADMINISTRATION HAS DECIDED TO WAIVE THIS NEW REQUIREMENT. THE PRESIDENT WILL ALLOW DUAL CITIZENS AND PEOPLE WHO HAVE TRAVELED TO SUDAN, SYRIA TO WALTZ BACK INTO THE UNITED STATES WITHOUT A VISA. THE DEPARTMENT OF HOMELAND SECURITY ESTIMATES THAT 5,000 WESTERNERS HAVE MADE THE JOURNEY TO FIGHT WITH MILITANT GROUPS LIKE ISIS. ALLOWING THIS WILL ONLY WEAKEN U.S. NATIONAL SECURITY. THE FOUNDERS IMPLEMENTED THE SEPARATION OF POWERS TO PROTECT THE PEOPLE FROM AN ALL POWERFUL GOVERNMENT. THE ADMINISTRATION EXECUTIVE OVERREACH VIOLATES THE CONSTITUTION AND PUTS AMERICANS AND OUR SECURITY AT RISK. AND THAT'S JUST THE WAY IT IS.

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  • 05:11:05 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. UNDER THE SPEAKER'S…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 6, 2015, THE GENTLEWOMAN FROM NEW JERSEY, MRS. WATSON COLEMAN IS RECOGNIZED.

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  • 05:11:22 PM

    MRS. WATSON COLEMAN

    I ASK UNANIMOUS CONSENT THAT ALL MEMBERS HAVE FIVE LEGISLATIVE DAYS TO…

    I ASK UNANIMOUS CONSENT THAT ALL MEMBERS HAVE FIVE LEGISLATIVE DAYS TO REVISE AND EXTEND THEIR REMARKS AND INCLUDE EXTRANEOUS MATERIAL ON THE SUBJECT OF MY SPECIAL ORDER.

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  • 05:11:32 PM

    THE SPEAKER PRO TEMPORE

    WITHOUT OBJECTION.

  • 05:11:35 PM

    THE CITY OF FLINT, MICHIGAN, HAS BEEN HIT BY A CRISIS OF MASSIVE…

    THE CITY OF FLINT, MICHIGAN, HAS BEEN HIT BY A CRISIS OF MASSIVE PROPORTION, WHOSE IMPACTS ON THE LONG-TERM HEALTH AND FUTURE SUCCESS OF ITS RESIDENTS REMAINS UNCLEAR. THE FACT I FIND MOST DISTURBING, IT IS A COMPLETELY MANMADE CRISIS. IT GREW OUT OF THE SAME KIND OF AUSTERITY MEASURES THAT HANDICAPPED OUR ABILITY TO AND GREW OUT OF FAILURE TO INVEST IN A CRUMBLING INFRASTRUCTURE OF FLINT AND WOEFUL DISREGARD OF THE PEOPLE OF THAT CITY, A CITY WHERE MORE THAN 40% OF THE RESIDENTS LIVE BELOW THE POVERTY LINE AND THE MAJORITY OF FAMILIES ARE AFRICAN-AMERICANS. MY COLLEAGUES AND I ARE HERE ON THE FLOOR THIS EVENING TO URGE EVERY MEMBER OF THIS BODY TO UNDERSTAND ONE THING. IF WE FAIL TO ACKNOWLEDGE THE ISSUES THAT LED TO THE FLINT WATER CRISIS, WE WILL SEE SIMILAR AND EQUALLY DEVASTATING EVENTS IN MORE AND MORE CITIES ACROSS THE COUNTRY. WE NEED TO RECOGNIZE THAT TUNNEL VISION FOR DEFICIT REDUCTION RECRATES -- CREATES MORE PROBLEMS THAN IT SOLVES. THEY INSTITUTED A PLAN TO RUN FLINT LIKE A BUSINESS TO BRING IT BACK FROM THE BRINK OF DEBT. HE SOUGHT OUT THE OPTIONS. AND IN DOING SO HE DECIDED TO PULL FROM THE COR OWES I HAVE AND CONTAMINATED FLINT RIVER WITHOUT PROTOCOLS NECESSARY TO ENSURE THAT THE WATER WAS CLEAN. WE NOW KNOW THAT ALTHOUGH THE FLINT RIVER IS IN POOR SHAPE, A LITTLE ADDITIONAL SPENDING COULD HAVE PREVENTED THIS CRISIS. INSTEAD, FLINT WENT THE BARE-BOTTOM-BONES ROUTE AND RESIDENTS ARE SUFFERING. CONGRESS HAS MORE THAN ONE SO FOCUSED ON REDUCING THE DEFICIT THAT WE HAVE LOST SIGHT OF OUR RESPONSIBILITY TO GOVERN. ONLY A FEW MONTHS AGO DID WE ABANDON THE POLICY OF SEQUESTRATION WHICH HAMPERED THE FUNCTIONING OF COUNTLESS PROGRAMS OVER THE PAST SEVERAL YEARS. THE BENEFITS OF AUSTERITY AND SMALL GOVERNMENT ARE QUESTIONABLE AT BEST. FLINT HAS PROVEN THAT AND WE WOULD BE WISE TO REMEMBER IT. UNFORTUNATELY, THAT'S NOT THE ONLY LESSON THAT WE CAN TAKE AWAY FROM THIS CRISIS. THIS CONGRESS HAS MADE UNDERMINING ENVIRONMENTAL AND ENERGY REGULATIONS ONE OF ITS CORE MISSIONS. IN THE FIRST 100 DAYS OF THE 114TH CONGRESS VOTED ON MORE ENVIRONMENTAL AND ENERGY ISSUES AND NOT A SINGLE ONE WAS AIMED AT PROTECTING RESOURCES LIKE THE FLINT RIVER FROM THE KIND OF CONTAMINATION THAT ALLOWED ITS WATER TO COULD ROAD LEAD PIPES. IF REDUCING THE DEFICIT HAS BEEN THE FIRST PRIORITY ALLOWING CORPORATIONS AND BIG BUSINESSES TO TAKE WHATEVER LIBERTIES WITH OUR ENENVIRONMENT THEY CHOOSE HAS TO BE A CLOSE SECOND. UNDER THE MAJORITY OF THIS HOUSE, OUR BABIES WOULD CHOKE ON SMOG BEFORE WE LIMIT THE AMOUNT OF POLLUTION A SMOKE STACK COULD SPEW OUT. IT WOULD ALLOW TO POISON THE FISH AND WHERE THESE COMPANIES CAN DUMP THEIR CHEMICAL BY-PRODUCTS AND OUR FARMLANDS WOULD TURN BARREN. IT TOOK YEARS TO TURN THE FLINT RIVER INTO THE DANGEROUS WATER SOURCE THAT HAS CAUSED SO MANY PROBLEMS, BUT FOR OTHER RIVERS, LAKES OR STREAMS, THERE STILL MAY BE TIME TO REPAIR OR PREVENT THE DAMAGE WE HAVE DONE. FLINT SHOULD STRENGTHEN, NOT WEAKEN OUR ENVIRONMENTAL PROTECTION. MADAM SPEAKER, THERE IS ONE MORE LESSON TO LEARN HERE AND PERHAPS THE MOST IMPORTANT. THE INFRASTRUCTURE IN FLINT LIKE IN SO MANY OTHER CITIES IS OUTDATED AND NO ONE AT THE LOCAL, STATE OR FEDERAL LEVEL SEEMS WILLING OR CAPABLE OF MAKING THE NECESSARY INVESTMENT. TODAY IN OUR OVERSIGHT HEARING, ONE OF THE TOPICS OF CONCERN WAS THAT EVEN IF INDIVIDUAL HOMES HAD REPLACED THEIR OLD LEAD PIPES, THE CITY'S PIPES WOULD STILL HAVE CAUSED A MAJOR PROBLEM. MADAM SPEAKER, THAT'S A MATTER OF MADAM SPEAKER, IN MY HOME STATE OF NEW JERSEY, WE SPENT MORE THAN A DECADE LEADING THE WAY IN THE BATTLE AGAINST LEAD POISONING BUT WITH THE ONSET OF GOVERNOR CHRISTIE'S ADMINISTRATION, ALL THESE ADVANCES HAVE COME TO AN ABRUPT HALT. THERE ARE NOW 11 CITIES WITH LEVELS OF LEAD HIGHER THAN WHAT'S BEEN REPORTED IN FLINT RIGHT IN MY STATE OF NEW JERSEY. THESE -- THIS CONTAMINATION FROM LEAD COMES FROM PAINT INSTEAD OF WATER BUT NONETHELESS, IT IS A REFLECTION OF THE DEM ANYTHING OF SOURCES AND RESOURCES. TWO OF THESE CITIES ARE RIGHT IN MY DISTRICT. STILL, GOVERNOR CHRISTIE'S ADMINISTRATION HAS IGNORED THE PROBLEM AND FAILED OUR CHILDREN BY CHOOSING NOT TO FUND OUR STATE'S LEAD ABATEMENT FUND. HERE AT THE FEDERAL LEVEL, WE CAN TAKE THIS EVEN FURTHER. OUR FAILURE TO INVEST IN TRANSPORTATION AND ENERGY INFRASTRUCTURE IS BUILDING UP TO A CRISIS OF A DIFFERENT KIND, A TIME WHEN OUR ROADS, OUR BRIDGES AND OUR POWER GRIDS BEGIN TO FAIL. MADAM SPEAKER, THERE ARE SO MANY LESSONS WE NEED TO LEARN FROM FLINT. I'VE A NUMBER OF COLLEAGUES THAT ARE HERE WITH ME THIS EVENING WHO HAVE RAISED THEIR VOICES IN SUPPORT OF THE PEOPLE OF FLINT AND WHO I KNOW AGREE WITH ME THAT THIS MUST BE A WATERSHED MOMENT. WE NEED TO CHANGE COURSE TO PREVENT THIS FROM HAPPENING AGAIN AND ENSURE THE FUTURE OF OUR NATION. BEFORE I TURN THIS OVER I WANT TO TAKE A MOMENT TO ADD, THERE ARE A NUMBER OF ASSOCIATIONS, COALITIONS AND OTHER ASSOCIATIONS THAT CONSISTENTLY ARE DEDICATED TO PROTECTING OUR NATURAL RESOURCES. THEY DEFEND THE CLEAN WATER ACT AND THEY FIGHT FOR THE CLEAN AIR ACT AND I HOPE FOR THEM TO FIGHT FOR FLINT IN THE NEAR FUTURE. AND NOW, MADAM CHAIR, IT IS MY PLEASURE TO YIELD TO MR. KILDEE, WHO NOT ONLY REPRESENTS THE DISTRICT IN WHICH IS FLINT BUT IS A RESIDENT, BORN AND RAISED IN THE CITY OF FLINT, MICHIGAN.

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  • 05:18:17 PM

    MR. KILMER

    THANK YOU SO MUCH. FIRST OF ALL --

  • 05:18:20 PM

    THANK YOU SO MUCH. FIRST OF ALL FOR MY COLLEAGUE CONDUCTING THIS SPECIAL…

    THANK YOU SO MUCH. FIRST OF ALL FOR MY COLLEAGUE CONDUCTING THIS SPECIAL ORDER AND RAISING ATTENTION TO THIS SITUATION, BUT PARTICULARLY ON BEHALF OF THE PEOPLE THAT I REPRESENT, THE 100,000 PEOPLE IN MY HOMETOWN OF FLINT, AS DIFFICULT AS THIS TIME HAS BEEN, THEY DO GET SOME STRENGTH FROM THE FACT THAT MEMBERS OF CONGRESS FROM ALL ACROSS THE COUNTRY AND FRANKLY MEMBERS OF CONGRESS ON BOTH SIDES OF THE AISLE HAVE EXPRESSED THEIR CONCERN. IT'S MY HOPE, IT'S MY SINCERE HOPE THAT THE CONCERN EXPRESSED FOR THE PEOPLE OF FLINT WILL NOT JUST COME IN THE FORM OF SYMPATHY BUT WILL ACTUALLY MOVE US TO TAKE ACTION. LET ME JUST TAKE A MOMENT TO TELL YOU ABOUT MY HOMETOWN. THIS IS A CITY THAT WAS THE BIRTHPLACE OF GENERAL MOTORS IN 1908. THIS IS A CITY THAT ACTUALLY HELPED BUILD THE LABOR MOVEMENT, 1936 AND 1937, THE WORKERS IN THE FACTORIES OCCUPIED THOSE FACTORIES UNTIL ON FEBRUARY 11 THEY GOT THAT FIRST U.A.W. CONTRACT THAT ACTUALLY HELPED BUILD THE MIDDLE CLASS. THE REASON I MENTION THAT IS IT'S A CITY THAT HAS GREAT PRIDE IN THE CONTRIBUTION THAT IT HAS MADE OVER THE DECADES TO THE INCREDIBLE PRODUCTIVE CAPACITY OF OUR SOCIETY. AND IT'S WITH THAT PRIDE AS A BACKDROP, THE LAST FEW DECADES HAVE BEEN TOUGH BECAUSE WE'VE SEEN THE LOSS OF MANUFACTURING JOBS, WE'VE SEEN BIG CHANGES IN OUR ECONOMY, THE COMMUNITY HAS BECOME SMALLER, IT'S GONE FROM 200,000 PEOPLE TO ABOUT 100,000 NOW. WE'VE LOST AN ENORMOUS AMOUNT OF THE MANUFACTURING BASE THAT WE ONCE HAD, AND IT WAS REALLY THE ENGINE OF OUR ECONOMY. AND, OF COURSE, THE EFFECT OF ALL THAT IS THE CHALLENGE THE COMMUNITY AND ITS VERY EXISTENCE. THE CITY HAS STRUGGLED TO KEEP THE BUDGETS BALANCE AND THEN A FEW YEARS AGO THEY REDUCED OR ELIMINATED STATE SUPPORT FOR CITIES. THAT KIND OF SUPPORT WAS NECESSARY FOR THE CITY TO PROVIDE THE ESSENTIAL ROLE IT PLAYS IN A REGIONAL ECONOMY. AS A RESULT OF THAT DECISION, THE CITY WAS IN SIGNIFICANT FINANCIAL STRESS, REALLY ON THE VERGE OF BANKRUPTCY. THE STATE OF MICHIGAN'S SOLUTION, RATHER THAN PROVIDE SUPPORT, ADDITIONAL FUNDING, ECONOMIC DEVELOPMENT, WORK FORCE DEVELOPMENT, BETTER SCHOOLS, THAT'S NOT THE SOLUTION. THOSE ARE THE THINGS THAT WOULD MAKE A DIFFERENCE. INSTEAD, THE STATE OF MICHIGAN APPOINTS AN EMERGENCY MANAGER THAT SUSPENDS THE AUTHORITY OF THE SECURITY COUNCIL AND THE MAYOR AS IF THIS CITY THAT IS STRUGGLING AS A RESULT OF DISINVESTMENT ONLY NEEDS NEW MANAGEMENT. WORSE YET, THE CHARGE TO THESE EMERGENCY MANAGERS -- AND WE HAVE THEM IN MICHIGAN IN LOTS OF DIFFERENT COMMUNITIES AND SCHOOL DISTRICTS -- THE CHARGE IS TO GET IN THERE AND GET THE BUDGET BALANCED. THE TOOL THEY HAVE IS A BUDGET SCALPEL. NO ADDITIONAL RESOURCES, JUST A KNIFE TO CUT THE BUDGET. AND IN THE CASE OF FLINT, ONE OF THE PLACES THEY CHOSE TO CUT WAS THE ESSENTIAL SERVICE OF DRINKING WATER. TEMPORARILY SHIFTING AS A RESULT OF AN EMERGENCY MANAGER DECISION TO THE FLINT RIVER. NOW, FOLKS DON'T NEED TO BE MAD AT THE RIVER. IT'S JUST A RIVER. ACTUALLY IT'S QUITE BEAUTIFUL NOW SINCE IT'S NO LONGER USED AS AN OPEN SEWER. SOME OF IT HAS BEEN RESTORED, BUT IT'S STILL RIVER WATER. IT'S 19 TIMES MORE CORROSIVE THAN THE GREAT LAKES WATER THAT WE HAVE DRAWN FOR DECADES AS OUR WATER SOURCE. AND SO IN A RUSH TO SAVE MONEY, THE DECISION WAS MADE TO USE THIS RIVER IN AN ALMOST INEXPLICABLE DECISION TO SAVE A FEW HUNDRED DOLLARS. I THINK IT'S ESTIMATED TO BE ABOUT $100 A DAY. THEY DIDN'T TREAT THE WATER WITH ORTHOPHOSPHATE TO HELP WITH THE CORROSION OF THE PIPES AND THAT'S WHAT LED TO THE PIPES PUTTING LEAD INTO THE HOUSEHOLDS, INTO THE BODIES OF HUMAN BEINGS AND INTO CHILDREN. 9,000 CHILDREN UNDER THE AGE OF 6 WHO ARE THE REAL VICTIMS OF THIS. IT'S NOT GOOD FOR ADULTS. THERE'S NO ACCEPTABLE LEVEL OF LEAD IN THE HUMAN BODY. IT'S A NEUROTOXIN. BUT FOR CHILDREN IT'S ESPECIALLY DANGEROUS BECAUSE IT AFFECTS BRAIN DEVELOPMENT IN A WAY THAT IS PERMANENT. SO WHAT WE NEED NOW SINCE THIS WAS DONE TO FLINT BY THE FAILURE OF THE EMERGENCY MANAGER TO THINK ABOUT SOMETHING OTHER THAN DOLLARS AND CENTS, AND THE FAILURE OF THE STATE, DESPITE REPEATED WARNINGS, INCLUDING WARNINGS FROM THE E.P.A. THAT THEY SHOULD BE APPLYING CORROSION CONTROL, THAT THIS IS GOING TO HAVE CONSEQUENCES, THEY TREATED IT LIKE IT WAS A FUN RELATIONS PROBLEM FOR THEM -- PUBLIC RELATIONS PROBLEM FOR THEM, NOT A PUBLIC HEALTH PROBLEM FOR 100,000 PEOPLE. SO THE DAMAGE HAS BEEN DONE. SO WE HAVE TWO QUESTIONS TO ASK OURSELVES. ONE, HOW DO WE MAKE SURE THIS NEVER HAPPENS AGAIN? GETTING RID OF THE EMERGENCY MANAGER WOULD BE A BIG STEP IN THE RIGHT DIRECTION. MAKE ONLY MAKING SURE WE HAVE ADEQUATE REGULATIONS REGARDING CLEAN WATER BUT THE AGENCIES CHARGED WITH THEM HAVE ADEQUATE AUTHORITY AND RESOURCES TO ENFORCE, THAT WOULD GO A LONG WAY TO PREVENT THIS FROM HAPPENING AGAIN. LEGISLATION THAT MYSELF AND MY COLLEAGUES FROM MICHIGAN ARE INTRODUCING WOULD ENSURE THAT WHEN THE E.P.A. IS AWARE OF A PROBLEM LIKE THIS THEY WOULD HAVE TO MAKE IT PUBLIC. THAT WOULD GO A LONG WAY. BUT THE OTHER QUESTION IS, HOW DO WE MAKE IT RIGHT FOR THE PEOPLE IN FLINT, ESPECIALLY FOR THE CHILDREN? THE STATE DID THIS. IT WAS THEIR DECISION. VIRTUALLY EVERYBODY BACK HOME HAS NO DOUBT ABOUT THAT QUESTION. THERE'S AN EFFORT RIGHT NOW TO TRY TO OBFUSCATE RESPONSIBILITY. THAT'S REALLY BECAUSE IN MY VIEW -- AND THIS IS ONLY MY OPINION -- THAT BY ACCEPTING RESPONSIBILITY FOR WHAT HAPPENED MEANS THAT THERE'S THE RESPONSIBILITY TO MAKE IT RIGHT. AND I JUST FEAR THAT THE STATE OF MICHIGAN IS TRYING TO AVOID THAT KIND OF RESPONSIBILITY. BUT TO MAKE IT RIGHT WE NEED TO SPEND SOME MONEY ON INFRASTRUCTURE, TAKE UP THOSE LEAD SERVICE LINES THAT HAVE BEEN SO DAMAGED BY THIS CORROSIVE WATER AND REPLACE THEM WITH SOMETHING THAT WILL NOT DELIVER LEAD INTO THE WATER SYSTEM. TO IMPROVE THE INFRASTRUCTURE SO IT'S MORE SUSTAINABLE, BUT MOST IMPORTANTLY AND FINALLY, TO MAKE IT RIGHT IN FLINT, WE'VE GOT TO MAKE SURE THE KIDS WHO ARE THE REAL VICTIMS OF THIS ARE GIVEN EVERY OPPORTUNITY THAT WE CAN GIVE THEM TO OVERCOME SOMETHING THAT THEIR GOVERNMENT DID TO THEM. THAT MEANS GIVING THEM OPPORTUNITIES LIKE EVERY CHILD HAVING ACCESS TO EARLY HEAD START, EVERY CHILD BEING ENROLLED IN HEAD START, EVERY CHILD HAVING ENRICHMENT OPPORTUNITIES, EVERY CHILD BEING GIVEN ALL THE HELP THEY CAN, ALL THE SUPPORT THEY CAN FOR PROPER NUTRITION, EVERY CHILD HAVING A SMALL CLASS SIZE TO THAT TEACHER-STUDENT CONTACT IS REAL, NOT PACKED IN A CLASSROOM OF 35 OR 40 KIDS. SUMMER YOUTH ACTIVITY. SUMMER EMPLOYMENT. ALL OF THE THINGS THAT WE WOULD DO AS PARENTS FOR ONE OF OUR OWN CHILDREN STRUGGLING TO OVERCOME A HURDLE, A DEVELOPMENTAL HURDLE IS WHAT THE STATE OF MICHIGAN OWES TO THE 9,000 CHILDREN OF FLINT UNDER THE AGE OF 6 THAT HAVE BEEN SUBJECTED TO HIGH LEVELS OF LEAD. THAT'S THE MORAL OBLIGATION OF THE STATE OF MICHIGAN. AND I JUST HOPE AND I KNOW MY COLLEAGUES STAND WITH ME THAT IF THE STATE IS UNWILLING TO STEP UP AND DO THE RIGHT THING, WE RECOGNIZE THAT THESE CHILDREN, THAT THESE CITIZENS, THE PEOPLE I REPRESENT JUST LIKE THE PEOPLE WE ALL REPRESENT ARE NOT JUST RESIDENTS OF A STATE BUT THEY'RE CITIZENS OF THE UNITED STATES. AND JUST LIKE WHEN A STORM HITS, WHEN WE HAVE A CHANCE AND THE CAPACITY TO DO SOMETHING TO EASE THAT SUFFERING, TO PROVIDE OPPORTUNITY, TO OVERCOME A MAN-MADE DISASTER, THAT WE'RE WILLING TO STAND UP AND DO THAT. I CAN'T TELL YOU HOW MUCH I THANK MY COLLEAGUES FOR TAKING SOME TIME THIS WEEK, PARTICULARLY MY COLLEAGUES FROM MICHIGAN BUT THE FOLKS FROM ALL OVER THE COUNTRY HAVE BEEN HELPFUL. THIS IS A REAL CRISIS AND IT DESERVES A RESPONSE EQUAL TO THE GRAVITY OF THE CRISIS. SO ON BEHALF OF THE PEOPLE I REPRESENT, THANK YOU SO MUCH, AND I YIELD BACK.

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  • 05:27:26 PM

    MRS. WATSON COLEMAN

    THANK YOU, MR. KILDEE. WE'RE PARTICULARLY GRATEFUL FOR BOTH REPRESENTATIVE…

    THANK YOU, MR. KILDEE. WE'RE PARTICULARLY GRATEFUL FOR BOTH REPRESENTATIVE KILDEE AND REPRESENTATIVE LAURENCE FOR HAVING ELEVATED THIS DISCUSSION TO THE POINT WE'RE GIVING IT SEAR -- REPRESENTATIVE LAWRENCE FOR HAVING ELEVATED THIS DISCUSSION TO THE POINT WE'RE GIVING IT SINCERE CONSIDERATION. I WANT TO YIELD TO CONGRESSWOMAN LAWRENCE FROM MICHIGAN.

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  • 05:27:53 PM

    MRS. LAWRENCE

    MR. SPEAKER -- I'M SORRY, MADAM SPEAKER, GOOD EVENING. I STAND BEFORE YOU…

    MR. SPEAKER -- I'M SORRY, MADAM SPEAKER, GOOD EVENING. I STAND BEFORE YOU TODAY A TRUE MICHIGAN GIRL, BORN AND RAISED IN THE CITY OF DETROIT, HAVING TRAVELED AND BEEN IN PUBLIC SERVICE FOR OVER 25 YEARS IN MULTIPLE CAPACITIES. TODAY, I HAVE THE OPPORTUNITY AFTER CALLING FOR A HEARING TO CHAIRMAN CHAFFETZ, TO CALL A HEARING ABOUT THIS FLINT WATER SITUATION. I WANT TO TELL YOU, BEING IN CONGRESS AND KNOWING THAT THERE'S TWO AISLES, TWO PHILOSOPHIES, TWO GROUPS -- THE REPUBLICANS AND THE DEMOCRATS -- THAT I WAS SO IMPRESSED THAT THE CHAIRMAN RESPONDED AND GRANTED MY REQUEST FOR A HEARING. HE UNDERSTOOD HOW IMPORTANT AND HOW VOLATILE THE SITUATION IS. WE STRUGGLED A LITTLE BIT WITH WHO WOULD BE ABLE TO BE WITNESSES, BUT WE HAD THE HEARING. I WANTED TO TELL YOU THAT THIS IS SOMETHING THAT IS NOT A PARTISAN ISSUE, AND THE MESSAGE I WANT TO GET OUT TODAY THAT THIS ISSUE WHERE CHILDREN AND FAMILIES, BECAUSE OF THE LACK OF GOVERNMENT DOING THEIR JOB, IS UNACCEPTABLE, IS UNACCEPTABLE IN THESE UNITED STATES OF AMERICA. I CAN TELL YOU AMERICANS ASK FOR THREE BASIC THINGS, WHOEVER YOU ARE, WHEREVER YOU LIVE AND THAT IS THAT WE HAVE SAFE FOOD TO CONSUME, CLEAN AIR TO BREATHE AND CLEAN WATER TO DRINK, BECAUSE WE NEED ALL THOSE THINGS TO LIVE AND WE TRUST OUR GOVERNMENT TO PROTECT THOSE THINGS AND TO ENSURE THAT OUR CONSUMPTION WILL NOT HARM US. SO CLEARLY WE FAILED. WE FAILED AS A GOVERNMENT. SO THIS ISN'T ABOUT WEARING YOUR R, THIS IS ABOUT THE GOVERNMENT OF THE UNITED STATES RESTORING THE TRUST. I WANT YOU TO IMAGINE A MOTHER HOLDING HER CHILD AND DOING WHAT A MOTHER DOES WITH AN INFANT AND FEEDING THAT CHILD. SHE MAY MIX FORMULA AND SHE USES WATER TO MIX THE FORMULA AND SHE GIVES THE BABY THE BOTTLE AND SHE HOLDS THAT BABY AND THAT'S JUST SUCH A SPECIAL BONDING MOMENT OR SHE MAY BREAST-FEED AND WHEN YOU BREAST-FEED, THEY TELL YOU, DRINK IN EACH OF THOSE SCENARIOS, SHE WAS POISONING HER CHILD FOR OVER SEVEN MONTHS BEFORE SOMEONE STOOD UP AND SAID, STOP USING THE WATER. THERE ARE MOTHERS ALL OVER THIS COUNTRY HOLDING THEIR BABIES CLOSER AND PRAYING, I HOPE THIS NEVER HAPPENS TO ME. AND I FEEL IT'S THE ROLE OF GOVERNMENT, DEMOCRATS AND REPUBLICANS COMING TOGETHER TO SAY NEVER AGAIN IN THESE UNITED STATES OF AMERICA. WE NEED TO FIND OUT WHY THIS HAPPENED, WHEN IT HAPPENED AND WHEN YOU KNEW ABOUT IT, WHAT DID YOU DO ABOUT IT. AT ALL LEVELS OF GOVERNMENT, FEDERAL, STATE. AND THERE'S ENOUGH BLAME TO GO AROUND. BUT IT DOESN'T DO THOSE FAMILIES IN FLINT ANY GOOD IF WE JUST POINT FINGERS. WE HAVE TO FIND OUT AND HAVE A FULL INVESTIGATION SO THAT WE CAN FIND OUT WHAT WE NEED TO FIX, SO WE CAN STAND BEFORE THE CITIZENS OF THIS GREAT COUNTRY AND SAY, AS YOUR GOVERNMENT, WE'RE STARTING TO REBUILD THE TRUST AND WE'RE GOING TO FIX THIS. I WANT TO BE ON THE RECORD THAT I FEEL THOSE WHO MADE THE DECISION FROM THE EMERGENCY MANAGER AND THE GOVERNOR AND THOSE WHO WERE IN THE POSITION TO MAKE DECISIONS SHOULD BE PROVIDING STATEMENTS AND SHOULD BE A WITNESS TO TELL US WHAT HAPPENED, WHY IT HAPPENED, WHEN DID THEY KNOW, WHAT RESPONSIBILITIES LIES WHERE. WE'VE ALREADY IDENTIFIED SO MANY AREAS THAT LEGISLATION WILL BE COMING FORWARD AND I HOPE IT WILL BE BIPARTISAN. LEGISLATION THAT WE NEED, FIRST OF ALL, TO FIND OUT WHEN WE FIND LEAD IN WATER ON A STATE LEVEL, WHO HAS THE PRIMARY ROLE OF PROTECTING THE WATER, WHERE IS THE POWER OF E.P.A.? AND WE MAKE IT HAVE CLEAR THAT NOTIFICATION OF THE PUBLIC ONCE LEAD IS IDENTIFIED IN WATER AND WE ARE HEARING STATEMENTS THAT ARE ALL OVER ABOUT WHY THAT DIDN'T HAPPEN, WHAT WE NEED TO DO IS LEGISLATE SO IT DOESN'T HAPPEN AGAIN AND MAKE IT VERY CLEAR AND ENFORCE IT. WE NEED TO INCREASE THE ENFORCEMENT AND TESTING OF OUR WATER SO WE WILL NOT HAVE EXCUSES IN THE FUTURE. THE LAST THING I WANT TO SAY IS THAT AS WE SERVE IN CONGRESS AND THIS IS AN ELECTION YEAR AND WE GO AROUND AND ASK PEOPLE TO GIVE US THEIR VOTE, WE SHOULD BE ABLE TO SAY, IN THESE UNITED STATES OF AMERICA, WE HAVE A HISTORY WHERE WE DIDN'T ALWAYS GET IT RIGHT IN AMERICA. IN AMERICA, OUR HISTORY WILL TEACH US, THERE ARE TIMES WHERE ONE SIDE OR THE OTHER DIDN'T QUITE GET IT RIGHT, BUT OUR DEMOCRACY AND THE VOICE OF THE PEOPLE ROSE TO A LEVEL THAT DEMANDED ACTION HAPPEN. AND TODAY, WITH THIS HEARING AND WITH US HAVING THE OPPORTUNITY TO PUT THIS ON THE RECORD, WE ARE DEMANDING THAT ACTION IS TAKEN, THAT OUR GOVERNMENT STAND UP AND DO WHAT IT IS SUPPOSED TO DO. WE NEED TO FUND THE CORRECTIONAL ACTIONS FOR THE CHILDREN THAT HAVE BEEN AFFECTED. WE NEED TO ENSURE THAT WE ARE GOING TO FIX THE PIPES, AND THIS IS A BIGGER ISSUE AND THAT IS INFRASTRUCTURE. THIS CONGRESS CANNOT KICK THE CAN DOWN THE ROAD WHEN IT COMES TO INFRASTRUCTURE. YES, WE DID NOT TREAT THE WATER. BUT THESE LEAD PIPES IN OLDER COMMUNITIES IS AN ISSUE ACROSS THIS COUNTRY. AND WE ARE GOING TO HAVE TO STAND UP AS A GOVERNMENT, ADDRESS IT, FUND IT AND GET ABOUT THE WORK OF FIXING OUR INFRASTRUCTURE. THANK YOU. AND I YIELD BACK.

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  • 05:35:07 PM

    THANK YOU VERY MUCH TO THE CONGRESSWOMAN. ANOTHER VERY STRONG AND STRIDENT…

    THANK YOU VERY MUCH TO THE CONGRESSWOMAN. ANOTHER VERY STRONG AND STRIDENT VOICE ON BEHALF OF ALL OF THE CITIZENS IN THE STATE OF MICHIGAN AND PARTICULARLY WITH REGARD TO THE ISSUE OF CONFRONTING OUR VICTIMS, THE CITIZENS AS WELL AS THE CITIES, LIKE FLINT, MICHIGAN. CONGRESSWOMAN DINGELL.

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  • 05:35:31 PM

    TO THANK YOU FOR HELPING TO ORGANIZE THIS AS WELL AS THE LEADERSHIP OF…

    TO THANK YOU FOR HELPING TO ORGANIZE THIS AS WELL AS THE LEADERSHIP OF CONGRESSWOMAN BRENDA LAWRENCE AND CONGRESSMAN DAN KILDEE. MADAM SPEAKER, THE FIRST RESPONSIBILITY OF GOVERNMENT IS TO KEEP THE AMERICAN PEOPLE SAFE AND IT'S CLEAR THAT GOVERNMENT AT EVERY LEVEL FAILED THE PEOPLE OF FLINT. CLEAN AND SAFE DRINKING WATER IS A BASIC HUMAN RIGHT. AND NOW, WE NEED TO FOCUS ON THE PEOPLE OF FLINT FIRST AND THE MEN AND WOMEN AND THE CHILDREN AND WHAT IS HAPPENING THERE. THE MOST IMMEDIATE NEED WHICH WE ARE STILL STRUGGLING WITH IS WHAT THEY NEED. PEOPLE HAVE BEEN DONATING BOTTLED WATER. MOTHERS DON'T KNOW WHAT IS SAFE OR NOT SAFE BECAUSE THEY ARE GETTING CONFLICTING INFORMATION AS TO WHETHER THE WATER IS SAFE TO BATHE IN. THEY HAVE RASHES. AND WE HAVE A GOVERNOR WHO SAYS IF I HAVE GRANDCHILDREN, IT IS SAFE AND ATTORNEY GENERAL WHO SAYS IF I HAD GRANDCHILDREN, I WOULDN'T LET THEM BATHE. WE NEED TO MAKE SURE WE ARE TAKING CARE OF PEOPLE THAT THEY HAVE ACCESS AND CLEAN WATER. THESE FAMILIES HAVE NO TRANSPORTATION. THEY SET UP WATER SITES AT FIVE FIRE HOUSES AND WE DON'T THINK ABOUT IT BECAUSE WE ARE SO LUCKY. THESE PEOPLE DON'T HAVE TRANSPORTATION. MANY OF THEM HAVE NO WAY TO GET THERE AND ALLOWED ONE CASE OF WATER A DAY. THINK ABOUT THAT IF YOU ARE TRYING TO BATHE YOUR CHILDREN AND YOU DON'T KNOW IF TAP WATER IS SAFE OR IF THE FILTER IS THERE. THINK IF YOU ARE COOKING SPAGHETTI AND NEED BOTTLED WATER TO COOK THE SPAGHETTI. WE NEED TO THINK OF THE PEOPLE OF FLINT. SECONDLY, WE NEED TO DETERMINE WHAT IT IS THEY NEED LONG-TERM AND FIGURE OUT THE RESOURCES THEY NEED. AND AS MY COLLEAGUES HAVE SO ELOQUENTLY SAID, MR. KILDEE AND MRS. LAWRENCE, WHO IS ACCOUNTABLE? HOLD PEOPLE ACCOUNTABLE AND MAKE SURE THIS NEVER HAPPENS AGAIN IN AMERICA. BUT HAVING SAID THAT, THERE ARE 153,000 WATER SYSTEMS IN THIS COUNTRY. VERY BAD DECISIONS WERE MADE, THAT MADE A COMMUNITY TOTALLY TOXIC. AS MY COLLEAGUE SAID, NOT ONLY DO WE HAVE TO FIX THE INFRASTRUCTURE, BUT WE HAVE 10,000 CHILDREN WHO ARE GOING TO NEED HEAD START AND RESOURCES FOR A LIFETIME, FOR DECADES, FOR HEALTH CARE. HOW ARE WE GOING TO ENSURE THAT THEY HAVE IT. BUT HOW ARE WE GOING TO ENSURE WE ARE ADDRESSING THIS PROBLEM ACROSS THE COUNTRY AND MAKING SURE IT NEVER HAPPENS AGAIN. WE NEED TO MAKE SURE OUR GOVERNMENT AT EVERY LEVEL NEVER FAILS ANOTHER COMMUNITY AGAIN. THE BRINGING OF THIS TONIGHT AND THE TALKING, MAY WE ALL WORK TOGETHER TO FIX THIS MANMADE CRISIS AND MAKE SURE WE KEEP AMERICA SAFE FOR EVERY OTHER COMMUNITY. THANK YOU, MADAM SPEAKER.

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  • 05:39:04 PM

    MRS. WATSON COLEMAN

    GENTLELADY FROM NEW YORK, CONGRESSWOMAN SLAUGHTER.

  • 05:39:17 PM

    MS. SLAUGHTER

    I THANK THE GENTLELADY FOR YIELDING. AND AS A CITIZEN AND REPRESENTATIVE…

    I THANK THE GENTLELADY FOR YIELDING. AND AS A CITIZEN AND REPRESENTATIVE FROM THE STATE OF NEW YORK, I WANT TO EXPRESS MY CONCERN TO ALL MY COLLEAGUES FROM MICHIGAN THAT IN NEW YORK WE CARE DEEPLY ABOUT THIS ISSUE. AND I WANT TO THANK CONGRESSWOMAN WATSON COLEMAN IN ALLOWING ME TO SPEAK TONIGHT. I RISE TODAY AS THE THE ONLY MICRO BIOLOGIST IN CONGRESS TO ADDRESS THE CURRENT HEALTH DISASTER IN FLINT. IT IS A PUBLIC HEALTH DISASTER AND A VIOLATION OF OUR SOCIAL CONTRACT. THE MAGNITUDE OF THE CRISIS BECAME APPARENT IN FLINT A YEAR AGO. 26 TIMES THE LIMIT THAT THE E.P.A. USES TO TRIGGER ACTION. IN FACT, LAST SUMMER, A GROUP OF RESEARCHERS FOUND LEAD LEVELS HIGH ENOUGH TO MEET THE E.P.A.'S DEFINITION OF TOXIC WASTE AND NO WONDER THAT THE FILTERS THAT HAVE BEEN GIVEN TO THE PEOPLE OF FLINT HAVE BEEN RENDERED USELESS. THE TRUTH IS THE ONLY SAFE LEVEL OF LEAD IN WATER IS ZERO AND SADLY CHILDREN ARE PARTICULARLY SUSCEPTIBLE TO THE DAMAGING EFFECTS OF LEAD POISONING AND THE PROPORTION OF INFANTS AND CHILDREN WITH ABOVE AVERAGES OF LEAD IN THEIR BLOOD HAS NEARLY DOUBLED. THIS TOXIC METAL ROBS THEIR BRAIN MATTER TO PAY ATTENTION TO REGULATE EMOTIONS AND CONTROL IMPULSES. FOR THE REST OF THEIR LIVES, THESE CHILDREN WERE SUFFER FROM NEURODEVELOPMENTAL DAMAGE AND REDUCED INTELLIGENCE, ANEMIA, HYPERTENSION, REENAL IMPAIRMENT AND OTHER EFFECTS FROM LEAD POISONING AND A HIGHER RISK OF INCARCERATION. WHAT'S WORSE? THESE CHILDREN HAVE BEEN POISONNED AS A RESULT OF DELIBERATE DECISIONS AND SYSTEMIC FAILURES BY THE STATE OF MICHIGAN. MAKE NO MISTAKE ABOUT IT, ALL OF US WHO SERVE IN THIS HOUSE HAVE A RESPONSIBILITY FOR THESE CHILDREN BECAUSE OUR OATH REQUIRES THAT WE WILL PROTECT EVERYONE FROM ENEMIES BOTH FOREIGN AND DOMESTIC. AND WE HAVE NO RIGHT AND I THINK IT BORDERS ON CRIMINAL THAT WE WOULD ALLOW THIS KIND OF THING TO HAPPEN TO CHILDREN WHO ARE ALSO IN OUR CARE. THE FAILURES OF THE MICHIGAN STATE GOVERNMENT ARE INEXCUSEABLE AND DOING THIS TO OUR SMALLEST CITIZENS IS CRIMINAL. NEED I REMIND US THAT THE CITY COUNCIL WHICH SUPERSEDED BY STATE-APPOINTED EMERGENCY MANAGER AND I DON'T KNOW WHAT THE EMERGENCY WAS BUT HE CERTAINLY CREATED ONE WHO MADE THE DREADFUL DECISIONS WHO BROUGHT US TO THIS PROCESS AND THIS DEMOCRAT PROCESS WHICH WAS UNDERMINED AND THE HUNDREDS THAT LIVE WITH THE CONSEQUENCES. THOSE IN CONGRESS WHO BROUGHT THIS NEED TO TAKE ANOTHER LOOK AT THE CONSEQUENCES OF THEIR INACTIONS, WE SPENT TRILLIONS OF DOLLARS ON BOMBS AND WOUNDING ABOUT 60,000 YOUNG AMERICANS AND WHILE THIS FAILURE IMPACTS AMERICANS IT IMPACTS COMMUNITIES OF COLOR AND DOUBLING DOWN ON RACIAL HEALTH AND ECONOMIC DISPARITIES. FLINT IS THE LATEST EXAMPLE OF THIS DISTURBING REALITY AND IT IS A BELLWETHER FOR THE REST OF THE NATION. JUST UNDERFOOT, OUR OLD WATER PIPES IN EVERY CITY, CERTAINLY IN THE NEW ENGLAND STATES, THAT MAY BE THE VERY NEXT TO FAIL. WE'VE GOT TO TAKE THE STEPS TO REVERSE THE FAILED CHOICES THAT BROUGHT FLINT TO THE BRINK AND ALSO TO ENSURE THAT WHAT HAPPENED IN FLINT DOES NOT HAPPEN IN OTHER COMMUNITIES ACROSS THE COUNTRY. AGAIN, THAT IS OUR RESPONSIBILITY. AND I THANK CONGRESSWOMAN WATSON COLEMAN FOR HER TIMELY CONCERN OVER THE ISSUE AND FOR YIELDING ME THE TIME. AND I YIELD BACK.

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  • 05:43:55 PM

    I THANK YOU FOR NOT ONLY YOUR ELOQUENT WORDS AND YOU CAN SPEAK FROM YOUR…

    I THANK YOU FOR NOT ONLY YOUR ELOQUENT WORDS AND YOU CAN SPEAK FROM YOUR SCIENTIFIC BACKGROUND IN BEING A MICRO BIOLOGIST. THANK YOU VERY MUCH. I WOULD YIELD TO THE CO-CHAIR OF THE PROGRESSIVE CAUCUS, MR. ELLISON FROM MINNESOTA.

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  • 05:44:22 PM

    MR. ELLISON

    I WOULD LIKE TORE THANK THE GENTLELADY, MADAM SPEAKER, FOR THE TIME…

    I WOULD LIKE TORE THANK THE GENTLELADY, MADAM SPEAKER, FOR THE TIME TONIGHT. THIS IS THE PROGRESSIVE CAUCUS SPECIAL ORDER HOUR AND I'M SO HONORED THAT BONNIE WATSON COLEMAN LEADS OUR CAUCUS IN THIS REGARD. TONIGHT COULDN'T BE MORE IMPORTANT TO HAVE AN EXCELLENT LEADER GUIDING US IN THIS DISCUSSION BECAUSE IN MY OPINION THE FLINT WATER CRISIS IS ONE OF THE MOST STUNNING FAILURES OF THE PHILOSOPHY THAT YOU OUGHT TO RUN A GOVERNMENT ENTITY LIKE A BUSINESS THAN I HAVE EVER SEEN. TONIGHT, THE FLINT WATER CRISIS IS IN FRONT OF US IS NOT A TSUNAMI OR A TORNADO AND NOT A FLOOD BUT DECISIONS BY PEOPLE WHO HAVE INFLICTED MASSIVE HARM AND DAMAGE ON CHILDREN AND THE COMMUNITY AT LARGE. WHEN WE SAY COMMUNITY, THE DAMAGE TO THE CHILDREN ARE UNCONTRAVERLT I BELIEVE, WHAT ABOUT OUR SENIORS WHO CANNOT USE THE WATER IN THE CITY THAT THEY EXPECT TO USE IT IN? I SUBMIT TO YOU THAT THIS PROBLEM IS THE RESPONSIBILITY OF GOVERNOR SNYDER WHO BELIEVES IN RUNNING GOVERNMENT LIKE A BUSINESS. THE FORMER LEADER OF GATEWAY COMPUTERS PROMISED OUTCOMES AND DELIVERABLES DURING A CAMPAIGN, BUT HE WASN'T SLING COMPUTERS BUT GIVING PUBLIC SERVICES TO THE PEOPLE, VERY DIFFERENT. BUT APPARENTLY -- I DON'T KNOW, THE DELIVERABLES THAT HE WANTED TO DELIVER, DELIVERED HORRIBLE OUTCOMES TO THE PEOPLE OF FLINT. SNYDER SPENT BILLIONS OF DOLLARS IN TAX CUTS FOR CORPORATIONS LEAVING VERY LITTLE FOR SMALL CITIES LIKE FLINT. IT IS ALL BASED ON THE PHILOSOPHY IF YOU DON'T REGULATE BIG COMPANIES AND GIVE THEM THE TAX BREAK, THEN THEY ARE GOING TO INVEST IT IN PLANT AND EQUIPMENT AND RAISE OUR WAGES. WHAT A STUNNING FAILURE, A LIE AND UNTRUTH, A FALSE CLAIM. . BUT AS I MENTIONED, WHEN I SAY THAT FOLKS IN FLINT ARE MOSTLY BLACK, I WANT TO SAY THIS, THEY ARE NOT ALL BLACK. THIS IS A SHARED HARM ON WHITE COMMUNITIES AND LATINO COMMUNITIES AS WELL. SO I DON'T WANT PEOPLE ACROSS AMERICA TO THINK, WELL, I'M NOT BLACK SO IT'S NOT REALLY MY PROBLEM. NO, IT IS YOUR PROBLEM IF YOU ARE LIVING IN FLINT AND DRINKING WATER NO MATTER WHAT YOUR SKIN COLOR OR ETHNIC BANNED GROUND IS. IN FLINT -- BACKGROUND IS. IN FLINT, THEY DECIDED TO SWITCH THE DRINKING WATER TO THE FLINT RIVER TO SAVE MONEY. THANK YOU. IT WILL COST BILLIONS TO CORRECT THE DAMAGE THAT THIS -- THIS PERVERTED PHILOSOPHY OF MONEY BEFORE PEOPLE HAS RESULTED IN. THE CONSERVATIVE MANTRA SAYS THAT CUTTING MONEY AND SHRINKING GOVERNMENT IS THE WAY TO GO. WELL, HE'S SURE DONE THAT AND NOW WE HAVE THIS CRISIS ON OUR DOORSTEP. THE GOVERNMENT AND BUSINESS DO NOT HAVE THE SAME BOTTOM LINE, THEY SHOULD NOT HAVE THE SAME BOTTOM LINE AND WE SHOULD TREAT BUSINESSES LIKE BUSINESSES AND PUBLIC SERVICES AND GOVERNMENT LIKE THAT AND THEY SHOULD NOT CONFUSE ONE FOR THE OTHER. WE HAVE A CRISIS OF DEMOCRACY IN FLINT. UNDER THE GUISE OF FISCAL RESPONSIBILITY, WHICH WE ALL KNOW ONLY APPLIES TO LOW-INCOME PEOPLE, NEVER THE WELL-TO-DO, NEVER ARE THEY ASKED TO BE FISCALLY RESPONSIBLE. FOR EXAMPLE, YOU KNOW, IN FLORIDA THE POOR HAVE TO BE RESPONSIBLE, FISCALLY RESPONSIBLE. THEY EVEN GOT TO BE DRUG TESTED TO GET WELFARE, BUT WE GIVE BIG FARM SUBSIDIES AWAY. THAT'S WELFARE, TOO, AND NOBODY ASKS TO DO ANYTHING. IT'S RIDICULOUS. IT'S A DOUBLE STANDARD, BUT UNDER THE GUISE OF FISCAL RESPONSIBILITY, GOVERNOR SNYDER USED A STATE LAW, THE EMERGENCY MANAGER LAW, TO REMOVE LOCAL POWER AND APPOINT HIS OWN PERSONAL EMERGENCY MANAGERS TO RUN THE CITY OF FLINT AND NUMEROUS OTHER COMMUNITIES IN MICHIGAN, INCLUDING MY HOMETOWN, WHERE I WAS BORN AND RAISED IN DETROIT, MICHIGAN. I'M A PROUD REPRESENTATIVE OF MINNEAPOLIS, MINNESOTA, AND SUBURBS TODAY, BUT I WAS BORN IN DETROIT AND I COULD NEVER, EVER, NOR WOULD I EVER WANT TO DISCONNECT MY CONNECTION TO THIS CRISIS. THIS IS MY CRISIS. THIS IS MY STATE, WHERE I WAS BORN AND WHERE MY TWO OLDER BROTHERS LIVE AND WHERE MY PARENTS LIVE AND WHERE MY NIECES AND NEPHEWS LIVE NOW. MY BROTHER, BRIAN, REVEREND BRIAN ELLISON OF CHURCH OF THE NEW COVENANT BAPTIST WAS BORN IN FLINT. OF THE 25 TIMES THAT THE EMERGENCY MANAGERS HAVE BEEN APPOINTED IN MICHIGAN SINCE 1990, RICK SNITER HAS APPOINTED 15 OF THEM. IN DOING SO, HE'S DENIED THESE COMMUNITIES THE RIGHT TO DEMOCRACY. THIS KIND OF IDEA THAT WHEN YOUR TOWN IS IN TROUBLE, DEMOCRACY AND PEOPLE CAN'T BE THE VOICE OF THE SOLUTION IS AN OFFENSIVE TO ANYBODY WHO CARES ABOUT DEMOCRACY. INSTEAD, IT TURNS OVER CONTROL TO AN OUTSIDE DICTATOR WHO REPORTS ONLY TO THE GOVERNOR, NOT TO ANYONE IN THE COMMUNITY. NOW, I WANT TO TALK ABOUT FLINT BY THE NUMBERS FOR JUST A MOMENT. 8,657 CHILDREN -- THAT'S THE NUMBER OF CHILDREN UNDER THE AGE OF 16 EXPOSED TO LEAD POISONING. MAYBE MORE NOW. FIVE MILLION, THE AMOUNT OF MONEY THAT FLINT'S EMERGENCY MANAGER WAS TRYING TO SAVE BY SWITCHING THE WATER SUPPLY TO THE FLINT RIVER. $1.5 BILLION IN WHAT IT WILL COST TO REPLACE FLINT'S CRODED WATER PIPES. $100, THE NUMBER IT WOULD COST THE WATER. 10, THE NUMBER OF FLINT RESIDENTS THAT DIED OF LEGIONEERS WHICH EXPERTS ARE LINKED TO LEAD POISON. AND ZERO, THE NUMBER OF PIPES REMOVED. I WANT TO SAY AS I CLOSE, THERE IS A ANOTHER GROUP OF PEOPLE WHO I JUST WANT TO BRING TO LIGHT TODAY AND THAT IS A GROUP OF PEOPLE IN OUR SOCIETY WHO LIVE AMONGST US, WHO CLEAN HOTEL ROOMS, WHO WORK IN FARMS, WHO REALLY WORK SUPERHARD A LOT AND THESE ARE PEOPLE WHO MAY NOT HAVE DOCUMENTATION TO LIVE IN THE UNITED STATES AND WHAT ONE OF THE STORIES THAT WE HAVE PUT A LIGHT ON IS THE FACT THAT UNDOCUMENTED PEOPLE ARE BEING, ACCORDING TO REPORTS, TURNED AWAY FROM SERVICES. THEY -- YOU NEED AN I.D. TO GET THE WATER, AND THERE ARE CASES WHERE UNDOCUMENTED PEOPLE HAVE NOT BEEN ABLE TO GET THE SERVICES THAT THEY NEED. AND I JUST WANT TO SAY THAT FLINT'S UNDOCUMENTED MIGRANTS, THEY DON'T REQUEST HELP DURING THE WATER CRISIS. ON THIS FLOOR AND OTHER LEGISLATURES AROUND THIS COUNTRY, CONSERVATIVE LEGISLATORS ARE ALWAYS TALKING ABOUT THE ALIENS AND ALL THIS KIND OF STUFF AS IF THESE PEOPLE ARE FROM ANOTHER PLANET. BUT MY GOD, YOU DENY THEM WATER, COME ON. THE FACT OF THE MATTER IS THIS IS A HUMANITARIAN CRISIS. IT DESERVES THE FULL ATTENTION OF OUR GOVERNMENT. THE PROGRESSIVE CAUCUS WILL OFFER AN ENTRY IN OUR BUDGET ADDRESSING THIS CRISIS, COMING UP WITH THE MONEY. YES, WE THINK THAT THE WATER -- THE HEALTH AND SAFETY OF THE CHILDREN AND THE PEOPLE OF FLINT ARE MORE IMPORTANT THAN SOMEBODY'S TAX CUT. WE DO BELIEVE THAT TO BE TRUE. AND WE ARE GOING TO BE STANDING FIRM FOR THAT. AND WE ALSO URGE ALL OF OUR MEMBERS IN THIS BODY TO SAY, WAIT A MINUTE. ANYTIME PUBLIC POLICY SAYS THE ONLY THING THAT MATTERS IS CUTTING TAXES, WE DON'T REALLY CARE ABOUT PUBLIC SERVICES, YOU ARE GOING TO GET A CRISIS LIKE THIS. NOW THAT WE'VE SEEN WHAT THIS PHILOSOPHY WILL BRING YOU, I HOPE WE ALL NOW CAN SAY THAT WE NEED TO SLOW DOWN AND ASK OURSELVES A QUESTION WHICH IS, ISN'T IT WORTH -- ISN'T IT WORTH A MOMENT TO SPEND TIME TO DELIVER QUALITY PUBLIC SERVICES TO ALL OF THE PEOPLE OF THIS COUNTRY? ISN'T IT TIME TO LET GOVERNMENT DO WHAT IT'S SUPPOSED TO DO WHICH IS TO PROTECT THE PEOPLE? I YIELD BACK.

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  • 05:53:24 PM

    MRS. WATSON COLEMAN

    THANK YOU VERY MUCH, MR. ELLISON. I APPRECIATE YOU TAKING THE TIME TO BE…

    THANK YOU VERY MUCH, MR. ELLISON. I APPRECIATE YOU TAKING THE TIME TO BE HERE. NOW I'D LIKE TO YIELD TO THE CONGRESSMAN FROM VIRGINIA, MR. BOBBY SCOTT.

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  • 05:53:35 PM

    THANK YOU, CONGRESSWOMAN WATSON COLEMAN FOR YOUR LEADERSHIP AND…

    THANK YOU, CONGRESSWOMAN WATSON COLEMAN FOR YOUR LEADERSHIP AND COORDINATING THIS SPECIAL ORDER AND THANK YOU TO THE MICHIGAN REPRESENTATIVES WHO'VE BEEN WORKING SO HARD TO TRY TO RESPOND TO THIS TRAGEDY. THERE WILL BE A LOT OF INVESTIGATIONS DESIGNED TO FIND OUT WHAT HAPPENED, WHO'S FAULT IT WAS, WHETHER OR NOT ANY CRIMES WERE COMMITTED AND HOW TO PREVENT THIS FROM HAPPENING IN THE FUTURE. BUT THERE'S ONE THING WE KNOW AND THAT IS THAT CHILDREN HAVE BEEN POISONED BY LEAD EXPOSURE. AS THE RANKING MEMBER OF THE COMMITTEE ON WORKING -- ON EDUCATION AND THE WORK FORCE, WE'VE BEGUN THE PROCESS TO DETERMINE HOW TO APPROPRIATELY RESPOND BECAUSE WE KNOW THAT LEAD POISONING CREATES SEVERE CHALLENGES TO THE PUBLIC SCHOOL SYSTEM. CHILDREN ARE ENTITLED TO AN EQUAL EDUCATIONAL OPPORTUNITY, AND THAT GOES BACK TO THE BROWN V. BOARD OF EDUCATION CASE, WHERE THE COURT FOUND IT IS DOUBTFUL THAT ANY CHILD MAY BE REASONABLY BE EXPECTED TO SUCCEED IN LIFE WITHOUT AN EDUCATION AND THAT RIGHT -- AND THAT OPPORTUNITY IS A RIGHT WHICH MUST BE MADE AVAILABLE TO ALL ON EQUAL TERMS. NOW, LOCAL, STATE AND FEDERAL GOVERNMENTS HAVE ALL FAILED OUR CHILDREN, ALLOWING THEM TO BE POISONED BY LEAD EXPOSURE, AND WE OWE IT TO OUR CHILDREN TO MITIGATE TO THE EXTENT POSSIBLE THE ADVERSE EFFECTS OF LEAD POISONING SO THEY CAN ACHIEVE AN EQUAL EDUCATIONAL OPPORTUNITY. RESEARCH ALREADY SHOWS THAT THE ADVERSE EFFECTS OF LEAD EXPOSURE IS GREAT. DUE TO DECREASE ACADEMIC ATTAINMENT, INCREASE NEED FOR SPECIAL EDUCATION, HIGHER LIKELIHOOD OF BEHAVIORAL CHALLENGES AND CAN RESULT TO SIGNIFICANT LOSS IN EARNINGS, TAX REVENUES AND ADDITIONAL BURDENS TO THE CRIMINAL JUSTICE SYSTEM AND GREAT STRESS ON OUR HOSPITAL SYSTEMS. THE OPPORTUNITY FOR A STRONG START TO A SUCCESSFUL LIFE WILL BE STUNTED FOR FLINT'S CHILDREN IF THEY ARE NOT GIVEN THE NECESSARY RESOURCES, INCLUDING EARLY INTERVENTION AND ACCESS TO HIGH-QUALITY EARLY LEARNING PROGRAMS SUCH AS HEAD START TO HELP THEM OVERCOME THE LIFE-LONG EFFECTS OF EXPOSURE TO LEAD. NOW, WE HAVE AN OBLIGATION TO PROVIDE THESE RESOURCES AND PROVIDE THEM AS SOON AS POSSIBLE WHILE THEY CAN BE MOST EFFECTIVE. CURRENT FUNDING, HOWEVER, ONLY ALLOWS 20% OF FLINT CHILDREN WHO ARE ELIGIBLE FOR HEAD START TO ACTUALLY ATTEND HEAD START. THE CHILDREN WHO ARE ABLE TO PARTICIPATE IN HEAD START CAN RECEIVE EARLY SCREENING SERVICES FOR DEVELOPMENTAL DISABILITIES, FAMILIES CAN RECEIVE COUNSELING AND ASSISTANCE TO -- IN ACCESSING SERVICES. HEAD START CAN PROVIDE THE FLINT FAMILIES AFFECTED BY THE DISASTER WITH EARLY INTERVENTION SERVICES THAT THEY DESPERATELY NEED, BUT IN ORDER TO DO SO, ALL FAMILIES ELIGIBLE FOR HEAD START, NOT JUST THE 20% PRESENTLY PARTICIPATING, NEED TO BE ABLE TO ACCESS HEAD START. WE NEED TO COME UP WITH THE MONEY TO MAKE THAT POSSIBLE. MAKE NO MISTAKE, WE SHOULD NOT EXPECT THE FIX TO THIS CRISIS TO BE EASY OR CHEAP. THE IMPACT OF LEAD EXPOSURE ON YOUNG CHILDREN ARE LIFELONG LASTING AND OUR RESPONSE MUST HAVE A LONG-TERM APPROACH. WE MUST HAVE ALL THE TOOLS AVAILABLE TO US, STARTING WITH PRENATAL CARE AND SCREENINGS FOR PREGNANT MOMS, EARLY INTERVENTION TO IDENTIFY SPECIAL EDUCATION NEEDS, TITLE 1 FUNDING FROM ESEA, AFTER-SCHOOL PROGRAMS, EVEN INVESTMENT IN COLLEGE ACCESS EFFORTS. OUR CHILDREN'S FUTURES HAVE BEEN COMPROMISED BY BAD GOVERNMENTAL DECISIONS BUT WE KNOW HOW TO MITIGATE THAT DAMAGE AND THE RESPONSE HAS TO BE MORE THAN JUST THE INFRASTRUCTURE IMPROVEMENTS AND REPAIRS TO FINALLY PROVIDE CLEAN WATER. WE NEED A COMPREHENSIVE RESPONSE, AND MEMBERS OF THE COMMITTEE ON EDUCATION AND THE WORK FORCE WILL BE WORKING TO FORMULATE THE APPROPRIATE RESPONSE TO THE EDUCATIONAL CHALLENGES AND OTHER COMMITTEES WILL WORK TO THE RESPONSES WITHIN THEIR JURISDICTIONS. BUT ONE THING IS CERTAIN, IT IS IMPERATIVE THAT THESE RESOURCES BE PROVIDED NOW WITHOUT DELAY. THANK YOU AND I YIELD BACK.

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  • 05:57:38 PM

    MRS. WATSON COLEMAN

    THANK YOU VERY MUCH, CONGRESSMAN. AND I'D LIKE TO NOW YIELD TO THE…

    THANK YOU VERY MUCH, CONGRESSMAN. AND I'D LIKE TO NOW YIELD TO THE CONGRESSWOMAN FROM NEW YORK, CONGRESSWOMAN YVETTE CLARKE.

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  • 05:57:49 PM

    MADAM SPEAKER, AS A MEMBER OF THE CONGRESSIONAL PROGRESSIVE CAUCUS, I…

    MADAM SPEAKER, AS A MEMBER OF THE CONGRESSIONAL PROGRESSIVE CAUCUS, I THANKS MRS. WATSON COLEMAN FOR HER LEADERSHIP AND I STAND WITH THE COLLEAGUES FROM THE MICHIGAN DELEGATION AND OUR COLLEAGUES THROUGHOUT THIS HOUSE IN OUR OUTRAGE OVER WHAT HAS OCCURRED AND THE PURSUIT OF JUSTICE FOR THE PEOPLE OF FLINT. AS A NEW YORKER, I SAY TO MY SELF, THERE BUT FOR THE GRACE OF GOD, GO I. WE, TOO, IN NEW YORK CITY FACED A LEAD CRISIS WHEN CALLOUS LANDLORDS HAD LEAD PAINTING IN THEIR HOUSING STOCK AND IT IMPACTED AN UNTOLD NUMBER OF NEW YORKERS REMAINS WITH US TO THIS VERY DAY. BUT THEN THAT WAS THE PRIVATE SECTOR. WHO WILL SPEAK FOR THE MARGINALIZED AND DISENFRANCHISED THAT DEPENDED ON THE STATE LEADERSHIP, THE GOVERNOR, MR. SNYDER, AND HIS TEAM TO KEEP THEM SAFE FROM HARM? THE DECISION OF THE STATE OF MICHIGAN TO CHANGE THE SOURCE OF WATER FOR THE SAKE OF SAVING MONEY SHOWED AN UTTER DISREGARD FOR THE WELL-BEING OF THE PEOPLE OF FLINT. IT'S A NATIONAL DISGRACE. IT'S A NATIONAL TRAGEDY. THIS CALLOUS DISREGARD FOR THE POOR AND THE VULNERABLE LEAVES US ALL CULPABLE FOR WHAT HAS HAPPENED IN OUR NATION. THE TIMELINE OF EVENTS IS ESPECIALLY UNNERVING. THE SOURCE OF FLINT'S WATER WAS CHANGED IN APRIL OF 2014. FOR NEARLY ONE YEAR COMPLAINTS ABOUT THE WATER QUALITY WERE IGNORED BY THE MICHIGAN DEPARTMENT OF ENVIRONMENTAL QUALITY. IT TOOK THE E.P.A. ONE SERIES OF TESTS TO DETERMINE THAT THE WATER WAS UNUSEABLE. JUST ONE SERIES OF TESTS. AND WE KNOW AS A RESULT OF THAT THAT THIS WATER WAS DEFINITELY UNSAFE FOR HUMAN CONSUMPTION. THE RESULT, BABIES, CHILDREN, NURSING MOTHERS, THE ELDERLY, SOME WITH COMPROMISED IMMUNE SYSTEMS AND HEALTH, POISONED BY THEIR OWN GOVERNMENT. . ACCESS TO CLEAN WATER AND CLEAN AIR ARE FUNDAMENTAL HUMAN RIGHTS. THE STATE OF MICHIGAN HAS FAILED THE PEOPLE OF FLIPT. ITS STATE LEADERSHIP HAS DEMONSTRATED -- FLINT. ITS STATE LEADERSHIP HAS DEMONSTRATED A CONTEMPT AND MARGINALIZATION OF THE HUMANITY OF HER PEOPLE. WHO WILL SPEAK FOR THE MARGINALIZED AND DISENFRANCHISED? THE CALLOUS DISREGARD FOR THE POOR AND THE MOST VULNERABLE? WELL, TONIGHT AND EVERY NIGHT ACROSS THIS NATION AMERICANS ARE STANDING UP TO SAY THAT THIS CANNOT BE TOLERATED. THAT JUSTICE IS DUE. THAT WE'VE GOT TO SPEAK OUT FOR THE VULNERABLE COMMUNITIES, OFTEN MINORITY AND IMPOVERISHED, THAT ARE VICTIMS OF ENVIRONMENTAL INJUSTICE. WE MUST STAND FIRM IN OUR RESOLVE TO SEE THAT THE PEOPLE OF FLINT ARE DEALT WITH IN A HUMANE MANNER, THAT THEIR LIVES ARE ENHANCED BY A QUICK REMEDY TO WHAT THEY ARE CURRENTLY EXPERIENCING. THE MALAISE, THE LAID-BACK WAY IN WHICH PEOPLE, IN PARTICULAR THE GOVERNOR AND HIS ADMINISTRATION, ARE DEALING WITH THIS CRISIS LEAVES ALL OF US UNEASY. YOU'VE HEARD FROM MY COLLEAGUES THIS EVENING ABOUT THE IMPACT OF LEAD ON THE BRAINS OF DEVELOPING CHILDREN. YOU'VE HEARD ABOUT HOW LEAD IMPACTS ON THE HEALTH OF THOSE WITH COMPROMISED IMMUNE SYSTEMS. WE'RE ALSO HEARING ABOUT OTHER CON TAGE ANTS WITHIN THE WATERS -- CONTAGENTS WITHIN THE WATERS OF THE FLINT RIVER, MAYBE EVEN TIED TO LEGION AIRS DISEASE. WE WILL CONTINUE HEALTH CRISES EMERGE AS MORE AND MORE IS DISCOVERED ABOUT ACTUALLY WHAT IS IN THE FLINT RIVER. WE'VE ALSO BEEN TOLD THAT THE LEVEL OF LEAD WITHIN THIS WATER IS SO OVER THE TOP THAT THE FILL TRATION SYSTEMS THAT HAVE -- FILTRATION SYSTEMS THAT HAVE BEEN GIVEN TO THE PEOPLE ARE NO LONGER CAPABLE OF PROVIDING THEM WITH A SAFE SOURCE OF WATER. SO IT IS NOW UP TO GOVERNOR SNYDER TO DO RIGHT BY HIS OWN PEOPLE, TO STAND UP AND TO DO WHAT IS RIGHT BY THE PEOPLE OF FLINT, MICHIGAN. THE EFFECTS OF WHAT HAS TAKEN PLACE IN FLINT WILL BE EFFECTS THAT WILL BE FELT AND EXPERIENCED BY THE PEOPLE OF FLINT, MICHIGAN, NOW AND IN THE YEARS TO COME. IT IS OUR SINCERE HOPE THAT THE GOVERNOR AND HIS TEAM WILL DO RIGHT BY THE PEOPLE OF FLINT, MICHIGAN, AND BY EXTENSION THE PEOPLE OF THE UNITED STATES, BY MOVING SWIFTLY TO APPLY THE RESOURCES OF MICHIGAN TO THE MITIGATION OF THIS PROBLEM, AS WELL AS TO MAKE SURE THAT EVERY LIFE, EVERY SOUL THAT HAS BEEN IMPACTED BY THE POISONOUS WATER THAT THEY HAVE CONSUMED WILL BE TAKEN CARE OF TODAY AND FOR THE REST OF THEIR LIVES. SO I THANK BONNIE WATSON COLEMAN FOR HER LEADERSHIP THIS EVENING. I THANK ALL OF MY COLLEAGUES FOR STANDING UP, FOR SPEAKING OUT, FOR BEING CONSISTENT AND DEMANDING THAT THIS GOVERNOR DO RIGHT BY HIS PEOPLE, THAT HE COME OUT WITH A PLAN IMMEDIATELY TO DIRECT THE RESOURCES NEEDED TO FIX THIS PROBLEM. AND TO ADDRESS THE ILLNESS THAT IS ULTIMATELY GOING TO BE A PART OF THE LIVES OF A SIGNIFICANT PORTION OF THIS POPULATION FOR THE REST OF THEIR LIVES. IT IS THE RIGHT THING TO DO. AND I YIELD BACK.

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  • 06:06:13 PM

    THE SPEAKER PRO TEMPORE

    THAT ALREADY CONNED UNDER GENERAL LEAVE.

  • 06:06:15 PM

    >>

    THANK YOU. I'D LIKE TO GIVE THE REST OF THE TIME TO THE ELOQUENT AND…

    THANK YOU. I'D LIKE TO GIVE THE REST OF THE TIME TO THE ELOQUENT AND VIVACIOUS AND EVER-READY CONGRESSWOMAN FROM THE GREAT STATE OF TEXAS, SHEILA JACKSON LEE.

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  • 06:06:29 PM

    MS. JACKSON LEE

    MADAM SPEAKER, MAY I HAVE THE TIME REMAINING?

  • 06:06:35 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEWOMAN HAS FIVE MINUTES.

  • 06:06:36 PM

    MS. JACKSON LEE

    LET ME THANK THE GENTLELADY FOR HER GENEROSITY. AND LET ME, FIRST OF ALL,…

    LET ME THANK THE GENTLELADY FOR HER GENEROSITY. AND LET ME, FIRST OF ALL, THANK HER FOR LEADING THE CONGRESSIONAL PROGRESSIVE CAUCUS. I UNDERSTAND SHE'S DUE A RECOGNITION OF WHICH I CELEBRATE THAT SHE WILL HAVE SHORTLY. BUT LET ME THANK HER FOR HER ASTUTENESS ABOUT STATE GOVERNMENT. YOU COME FROM STATE GOVERNMENT. YOU UNDERSTAND OVERSIGHT, YOU UNDERSTAND THE RESPONSIBILITIES AND YOU ARE THE RIGHT PERSON TO LEAD THIS PARTICULAR SPECIAL ORDER. MADAM SPEAKER, IT IS IMPORTANT TODAY TO SAY THAT I FULLY SUPPORT THE PROPOSED SUPPORT OF SERVICES THAT HAVE BEEN ACCOUNTED OR RECOUNTED BY CONGRESSMAN KILDEE, CONGRESSWOMAN LAWRENCE AND CONGRESSWOMAN SCOTT, WHO IS A RANKING MEMBER OF THE EDUCATION COMMITTEE. WE MUST EMBRACE AND SURROUND THOSE CHILDREN. I MUST SAY IT AGAIN. I SAID IT EARLIER. THAT FOR THOSE OF US WHO REMEMBER JIM JONES, WHO LEFT CALIFORNIA AND GAVE A POISONOUS CONCOCTION TO CHILDREN IN A FOREIGN COUNTRY, WE HAVE A JIM JONES IN MICHIGAN GIVING A POISONOUS CONCOCTION TO THE CHILDREN OF FLINT, MICHIGAN. SO WE ARE OBVIOUSLY UPSET ABOUT THIS AND WE WANT THE SERVICES TO BE PROVIDED FOR CHILDREN WHO ARE INNOCENT. BUT AT THE SAME TIME, WEARING A HAT THAT DEALS WITH THE LAW AND LAW AND ORDER, I MUST MAKE THE ARGUMENT THAT THERE HAS TO BE AN INVESTIGATION, A CRIMINAL INVESTIGATION, LET ME APPLAUD THE DEPARTMENT OF JUSTICE, BECAUSE I SENT A LETTER JANUARY 14, 2016, TO ASK THE DEPARTMENT OF JUSTICE TO IMMEDIATELY INVESTIGATE THE ACTIONS OF STATE OFFICIALS IN MICHIGAN. THEY ARE ACTIVELY ENGAGED. THE F.B.I.'S ACTIVELY ENGAGED. AND THEIR WORK IS NOT FOR ASTRONAUT. LET ME GIVE YOU AN EXAMPLE, MADAM SPEAKER, VERY QUICKLY. THE GOVERNOR WAS ASKED TO RELEASE HIS EMAILS, PART OF WHAT HE RELEASED WAS THIS BLACK DEDACTED PAGES OF INFORMATION. HE RELEASED SOME OTHER MATERIALS THAT I THINK ARE TELLING. HERE WE ARE, WE NEED TREASURY TO WORK WITH DAN AND FLINT ON A CLEAR SIDE BY SIDE COMPARISON OF THE HEALTH BENEFITS AND COSTS OF GLWA VERSUS A MORE OPTIMIZED FLINT SYSTEM. BUT HERE'S THE REAL KEY. ALSO, WE NEED TO LOOK AT WHAT FINANCING MECHANISMS ARE AVAILABLE TO FLINT TO PAY FOR ANY HIGHER COST. MADAM SPEAKER, THE GOVERNOR OF THE STATE OF MICHIGAN IS SITTING ON $1 BILLION. BUT YET HE'S ASKING A CITY THAT IS NEAR BANKRUPTCY, CONTROLLED BY EMERGENCY MANAGER UNDER A STATE LAW THAT WAS REJECTED BY THE PEOPLE OF MICHIGAN, TO FIND OUT HOW THEY CAN PAY FOR BETTER WATER. THEY HAVE NO MONEY TO PAY FOR BETTER WATER. BUT LET ME TELL WHAT YOU THEY DID. INSTEAD OF HELPING FLINT PAY FOR BETTER WATER, OF HELPING THEM HAVE A PLAN FOR ANTI-CORROSION, THEY PAID AN EMERGENCY MANAGER UNDER A LAW THAT WAS REJECTED BY THE VOTERS OF MICHIGAN AND THIS INDIVIDUAL LED THE DETROIT PUBLIC SCHOOLS AS AN EMERGENCY MANAGER, I AM TOLD THAT THAT WAS LITERALLY BROUGHT TO COLLAPSE. HE WAS PAID $180,000. WELL, HE DIDN'T DO THAT WELL ENOUGH THAT THEY WANTED TO GIVE HIM $221,000. LET ME SAY THIS. THE EMERGENCY MANAGER PAYMENT FOR THE CITY OF FLINT, LET ME CORRECT THAT, WAS $180,000. WHEN HE DID IT FOR DETROIT, PUBLIC SCHOOLS, THAT CAME TO NEAR COLLAPSE, IT WAS $221,000. FOR MY -- FROM MY PERSPECTIVE, THERE IS MUCH HERE THAT WARRANTS A CRIMINAL INVESTIGATION. LET ME ADD TO THE POINT. ON APRIL 25, 2014, THE CITY SWITCHES ITS WATER SUPPLY, LET ME BE VERY CLEAR, THE CITY LEADERS, I SERVED ON CITY COUNCIL, THEY HAD NO AUTHORITY, BECAUSE THE EMERGENCY MANAGER WAS IN PLACE. DID THE EMERGENCY MANAGER HAVE AN ANTICORROSION PLAN? NO. DID THEY TEST THE WATER WITH WHEN THEY OPTED TO GO CHEAP AND SAVE $5 MILLION AND GO INTO THE FLINT RIVER? NO. THE CITY SWITCHES ITS WATER SUPPLY FROM DETROIT'S SYSTEM THAT WORKED, BECAUSE OF MONEY, THE SWITCH WAS MADE AS A COST SAVING MEASURE FOR THE STRUGGLING MAJORITY BLACK CITY OF FLINT. SOON AFTER RESIDENTS BEGAN TO COMPLAIN ABOUT THE WATER'S COLOR, TASTE AND ODOR AND TO REPORT RASHES AND CONCERNS ABOUT BACTERIA. AUGUST AND SEPTEMBER, 2014, CITY OFFICIALS SUGGESTED THEY BOIL THE WATER. THE COMPLETE WRONG THING TO DO. THEY DID NOT HAVE A PLAN FOR ANTI-CORROSION. THEY DID NOT FOLLOW THE FEDERAL LAW. THANK INDICATED THAT YOU HAD TO PUT -- THAT INDICATED THAT YOU HAD TO PUT AN ANTICORROSIVE ELEMENT INTO THE -- AN ANTI-CORROSIVE ELEMENT INTO THE WATT SORE IT CONTINUED TO DETERIORATE AND DETEAR -- WATER SO IT CONTINUED TO DETERIORATE AND DETERIORATE. THE EMERGENCY MANAGER WAS NEVER A SCIENTIST. IT WAS NOT SOMEONE WHO SAID, LET ME TEST THE WATER BEFORE I ORDER CITIZENS TO DRINK THE WATER. THAT SOUNDS TO ME THAT THERE ARE CULPABILITY AND CRIMINAL CULPABILITY BECAUSE LIVES HAVE BEEN ENDANGERED. I'M LOOKING FORWARD TO THE ATTORNEY GENERAL OF MICHIGAN COMING IN JUST AS THE GOVERNOR SHOULD AND LOOKING FORWARD TO A THOROUGH INVESTIGATION, MADAM SPEAKER, THAT WILL FIND SOME RELIEF. MY FINAL POINT, MADAM SPEAKER, IS TO SAY THAT THE GOVERNMENT --

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  • 06:12:00 PM

    THE SPEAKER PRO TEMPORE

    YOUR TIME IS EXPIRED. JACKSON SCRAX JACKSON THE GOVERN --

  • 06:12:02 PM

    MS. JACKSON LEE

    THE GOVERNER IS CULPABLE. HE NEEDS TO GO INTO HIS RAINY-DAY FUND AND…

    THE GOVERNER IS CULPABLE. HE NEEDS TO GO INTO HIS RAINY-DAY FUND AND REQUIRE THE FULL FUNDING TO FIX THE FLINT WATER SYSTEM. WITH THAT, I YIELD BACK.

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  • 06:12:14 PM

    THE SPEAKER PRO TEMPORE

    UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 6, 2015, THE GENTLEMAN…

    UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 6, 2015, THE GENTLEMAN FROM GEORGIA, MR. COLLINS, IS RECOGNIZED FOR 60 MINUTES AS THE HE ISES DIGNY OF THE MAJORITY LEADER -- DESIGNEE OF THE MAJORITY LEADER.

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  • 06:12:24 PM

    THANK YOU, MADAM SPEAKER. MADAM SPEAKER, I RISE TODAY TO CONGRATULATE BE A…

    THANK YOU, MADAM SPEAKER. MADAM SPEAKER, I RISE TODAY TO CONGRATULATE BE A OT MASSIE ON RECEIVING THE PRESTIGIOUS UNIVERSITY OF GEORGIA PRESIDENT'S AWARD IN RECOGNITION OF HIS EXTRAORDINARY SERVICE TO U.G.A. IN THE STATE OF GEORGIA. BE A OT IS AN INSTITUTION IN GEORGIA -- BE A OT IS AN INSTITUTION OF -- ABBOTT IS AN INSTITUTION OF GEORGIA AND HE'S SERVED ON THE BOARD OF THE GEORGIA RESEARCH FOUNDATION, AMONG NUMEROUS OTHER PRESTIGIOUS POSITIONS. IN MY PART OF THE WORLD, ABBOTT IS BETTER KNOWN AS THE DEAN OF THE POULTRY INDUSTRY. DUE TO HIS TIRELESS COMMITMENT TO AND ADVOCACY ON BEHALF OF THE INDUSTRY. HE SERVED AS THE EXECUTIVE DIRECTOR OF THE GEORGIA POULTRY FEDERATION FOR ALMOST 50 YEARS AND NOW SERVESES A ITS PRESIDENT AMEASURE TULLS. ONE OF THE MOST AMAZING THINGS ABOUT HIM IS THAT NOT ONLY DOES HE KNOW -- EVERYONE KNOW HIM, EVERYONE RESPECTS HIM. HE'S THE DEAN OF THE STATE LOBBYISTS OF THE GEORGIA CAPITAL BUT HE STILL MAKES TIME TO SAY HELLO TO EVERYONE HE MEETS AND OFTEN GREETS THEM BY NAME BECAUSE HIS MEMORY NEVER FORGETS ANYONE. HIS SERVICE TO GEORGIA AND HIS COMMITMENTS TO THE STATE IS OBVIOUS. BUT I'M GLAD TO SEE U.G.A. RECOGNIZE THAT SERVICE THROUGH THE BESTOWING OF HIM THE PRESIDENT'S AWARD. I'M HONORED TO RECOGNIZE THIS GREAT GEORGIAN AND HOPE HE CONTINUES TO WORK TO IMPROVE FUTURE GENERATIONS OF GEORGIANS. MR. SPEAKER, I RISE TODAY IN SPOFFER H.R. 997, THE ENGLISH LANGUAGE UNITY ACT, INTRODUCED BY MY FRIEND, MR. KING FROM IOWA. I'M A PROUD CO-SPONSOR OF THIS IMPORTANT AND COMMONSENSE BILL. THE ENGLISH LANGUAGE UNITY ACT ESTABLISHES ENGLISH AS THE OFFICIAL LANGUAGE OF THE UNITED STATES, REQUIRES ALL OFFICIAL FUNCTIONS OF THE UNITED STATES TO BE CONDUCTED IN ENGLISH, AND ESTABLISHES A UNIFORM LANGUAGE REQUIREMENT FOR NATURALIZATION. A COMMON LANGUAGE CREATES A SHARED BOND. IT STRENGTHENS OUR SHARED CULTURAL FABRIC AND IDENTITY, ENGLISH IS THE OFFICIAL LANGUAGE DOES NOT MEAN OTHER LANGUAGE CANNOT BE SPOKEN. IT SIMPLY RECOGNIZES THAT OFFICIALLY WE SPEAK THE LANGUAGE ALREADY SPOKEN AND SHARED BY THE VAST MAJORITY OF THIS COUNTRY. FAILURE TO HAVE A NATIONAL LANGUAGE CAN CREATE COSTLY AND BURDENSOME TRANSLATION REQUIREMENTS AND CREATE LEGAL CONFUSION IT. CAN ALSO HINTER NEW CITIZENS FROM -- HINDER NEW CITIZENS FROM ASSIMILATING. WE SHOULD CONTINUE TO CELEBRATE THE MANY CULTURES THAT MAKE UP OUR MELTING POT. THIS GREAT COUNTRY GIVE US THE FREEDOM TO SHARE OUR DIFFERENCES, BUT AT THE END OF THE DAY, WE ARE ONE NATION AND ONE PEOPLE. AND AS ONE NATION, WE SHOULD SPEAK WITH ONE TONGUE WHEN CONDUCTING OFFICIAL BILLS. AND WITH THAT I WOULD URGE MY COLLEAGUES TO SUPPORT THE ENGLISH LANGUAGE UNITY ACT. MR. SPEAKER, IT IS WITH A HEAVY HEART THAT I RISE TO PAY HONOR TO A FRIEND AND A COLLEAGUE, MR. DAN SUMMER. DAN WAS AN ATTORNEY IN GAINESVILLE AND AS A YOUNG ATTORNEY JUST GETTING STARTED, HE WAS ONE OF THE PEOPLE I COULD TURN TO AND ASK QUESTIONS OF. HE WAS SOMEBODY WHO LISTENED, HE WAS SOMEBODY WHO CARED. DAN AND HIS WIFE SHAWNDELLE RAN A FIRM THAT EVERYONE IN GAINESVILLE KNEW. IF YOU WENT TO THEM, YOU'RE GOING TO GET TREATED LIKE FAMILY AND HAVE SOMEBODY THAT TAKES NOT ONLY THE FIGHT FOR YOUR JUSTICE AND FOR YOUR FAIRNESS BUT MAKES IT VERY PERSONAL. DAN, WHEN HE PASSED AWAY RECENTLY, FOUGHT ALL THE WAY TO THE END. A.L.S. TOOK HIM FROM US. BUT HIS MEMORY IS STRONG AND WHAT HE HAS MEANT TO GEORGIA AND THE LEGAL COMMUNITY WILL GO ON FOR MANY GENERATIONS. HE'S ONE THAT STOOD UP FOR RIGHTS, MANY TIMES, WHEN OTHERS MAY HAVE DISAGREED, DAN ALWAYS STOOD UP FOR THE RIGHTS OF OTHERS. DAN WAS ALWAYS MAKING IT HIS BUSINESS TO BE THE PROTECTOR OF THOSE IN NEED. DAN SUMMER, IS WHO MAKES GAINESVILLE, GEORGIA. IT IS PEOPLE LIKE DAN SUMMER WHOSE CHARACTER, WHOSE LOVING KINDNESS AND SMILE. I REMEMBER ONE OF THE LAST TIMES I SAW DAN, IT WAS A LITTLE BIT AGO, I WAS WALKING ACROSS THE SQUARE IN GAINESVILLE, I PULLED UP, I SAW HIM WALKING ACROSS, I YELLED HELLO, THE FIRST THING HE DID WAS TURN AROUND AND I SAW THAT SMILE. IT IS DAN'S SMILE AND HIS CONCERN AND HIS LIFE THAT WILL BE REMEMBERED. WITH THAT, MR. SPEAKER, I WOULD ENCOURAGE ALL OF TAOS STRIVE FOR WHAT IS BETTER IN US. DAN SUMMER IS ONE OF THOSE PEOPLE THAT MEANT THE WORLD TO ME AND HIS FAMILY WILL EXPERIENCE THIS LOSS BUT I KNOW THEY WILL CONTINUE TO RELISH THE LOVE THAT HE GAVE, NOT ONLY HIS FAMILY BUT HIS COMMUNITY. WITH THAT, I REMEMBER DAN SUMMER. LIFE, LIBERTY, THE PURSUIT OF HAPPINESS. THE VERY THINGS THAT OUR CONSTITUTION, OUR FOUNDERS CAST A VISION FOR OUR NATION, WHOSE MEMBERS WOULD ENJOY UNPARALLELED FREEDOM BECAUSE OF THESE BASIC TRUTHS. LIFE, LIBERTY, THE PURSUIT OF HAPPINESS. UNFORTUNATELY TODAY, MANY HAVE LOST THE PURSUIT OF HAPPINESS IN FAVOR OF THE GUARANTEE OF HAPPINESS. THEY'RE MISTAKING WHAT WE HAVE AS A GUARANTEE IN THE PURSUIT OF HAPPINESS, THE FOUNDING FATHERS BELIEVED IN INDIVIDUAL WORTH, INDIVIDUAL RIGHTS. WHILE CHALLENGING REALITIES FACED BY NATIONS THAT PREY ON INDIVIDUALS REMIND OFFICE THE PARTICULAR BLESSINGS WE ENJOY, WE TAKE THESE RIGHTS SO OFTEN FOR GRANTED. I BELIEVE ONE OF THE THINGS THAT OUR SOCIETY -- IN OUR SOCIETY TODAY THAT IS BEGINNING TO PERVADE US IS A SOCIETY THAT DOES NOT VALUE LIFE OR LIBERTY OR THE PURSUIT OF HAPPINESS. IN FACT, I BELIEVE THERE'S AN ANTI-LIFE CULTURE THAT'S DEVELOPING, ONE THAT DOES NOT VALUE THE PERSONHOOD THAT COMES AT CONCEPTION AND ENDS AT NATURAL DEATH. THE ONE THAT SAYS WE ARE MADE BY GOD IN HIS IMAGE AND WE HAVE INFINITE VALUE NOT BASED ON WHO WE ARE BUT BASED ON THE FACT THAT HE BREATHED LIFE INTO US. IT IS AN ABORTION CULTURE, AN ENDING CULTURE THAT WE ARE BEING STRONGLED WITH IN THE UNITED STATES. ABORTION IS LITERALLY KILLING GENERATIONS OF PROMISE IN OUR COUNTRY. BUT YET WE HAVE SOME WHO REALLY JUST WANT TO TURN THEIR BACK. THEY BELIEVE IT IS A CHOICE. I'M SO GLAD, MR. SPEAKER, THAT YOUR FAMILY DIDN'T VIEW IT THAT WAY AND MY FAMILY DIDN'T VIEW IT THAT WAY. BECAUSE WHEN YOU LOOK AT LIFE, YOU TAKE LIFE AS GOD IS GIVEN TO IT AND IT IS ONLY UP TO HIM WHO GIVES LIFE, THE MAKER CREATOR OF LIFE THAT DETERMINES THE POTENTIAL AND POSSIBILITY AND WHATEVER PATH WE GO ON HE HAS GIVEN US THAT HOPE. IN MY OWN FAMILY THIS BECAME VERY REAL FOR ME MANY YEARS OF PASTORING BUT IT HAPPENED BACK IN 1992. YOU SEE, THERE WAS A YOUNG YOUTH MINISTER AND HIS WIFE. EXCITED ABOUT THE NEWS THAT THEY WERE GOING TO BE PARENTS. EVERYTHING WAS GREAT, EVERYTHING WAS MOVING ALONG, THEY WERE WORKING, THEY WERE DOING EVERYTHING THAT THEY THOUGHT THEY WERE SUPPOSED TO BE DOING UNTIL ONE DAY, MY -- HE SAID MY BRIDE CALLED ME, SAID LET'S DO ONE LAST ULT TRA SOUND. ULTRA-SOUNTS ARE AMAZE THEY SHOW LIFE, NOT A FETUS BUT LIFE IN THE WOMB. IT STARTS THEN. IF YOU DON'T BELIEVE ME TAKE A LOOK. EVEN BACK THEN, WHEN THEY STARTED TO GO AROUND, I COULD SEE MY CHILD WHO I HAD NOT HAD A CHANCE TO MEET YET. AND THEN A LITTLE BIT LATER THE NURSE STOPPED AND SHE SAID I NEED TO GO GET THE DOCTOR. AT THAT POINT MY WIFE LOOKED AT ME. AND SHE SAID, SOMETHING'S WRONG. AND TEARS STARTED COMING DOWN HER FACE. I SAID, SWEETHEART, THEY'RE JUST GOING TO GET THE DOCTOR. HE'S JUST GOING TO LOOK AT IT, IT'S ALL GOOD. SHE SAID NO, SOMETHING'S WRONG. IT CAME BACK, THE DOCTOR LOOKED AT IT HE SAID I NEED TO SHOW YOU SOMETHING. ON A LITTLE SPOT, A LITTLE WHITE SPOT THAT I COULD HAVE NOT TOLD THE DIFFERENCE OF THE DOCTOR TOLD US THE WORDS THAT HAVE NOW RUNG FOR ME FOR ALMOST 23 YEARS. HE SAID, DOUG, LISA, YOUR BABY HAS SPINA BIFIDA -- SPINA BIFIDA. HE ACTUALLY USED A BIG TERM, BUT ALL I KNEW WAS SOMETHING WAS WRONG. WE SPENT THE NEXT FEW DAYS IN SORT OF DISBELIEF. WE KNEW THIS WAS NOT A MISTAKE. WE KNEW THIS WAS NOT ANYTHING EXCEPT WE WERE SUPPOSED TO HAVE A CHILD AND UNDOUBTEDLY THIS WAS GOING TO BE A LITTLE BIT DIFFERENT. WE TALKED TO DOCTOR, WE FOUND OUT, IT JUST CONTINUED ON. AND THEN ONE DAY, LISA WENT BACK TO SCHOOL AFTER IT HAD BECOME KNOWN WE WERE HAVING AN ISSUE AND THE PREGNANCY WAS GOING TO BE HIGH RISK. ONE OF THE TEACHERS CAME UP TO LISA AND SAID, YOU KNOW YOU HAVE A CHOICE. AND LISA LOOKED AT HER AND SAID, WELL WE'RE GOING TO ATLANTA AND WE'RE GOING TO HAVE THE BABY IN ATLANTA AND THE DOCTOR -- SHE SAID NO, NO, NO. YOU HAVE A CHOICE, YOU DON'T HAVE TO KEEP GOING. AT THAT POINT IT CLICKED. SHE WAS TELLING MY WIFE THAT SHE COULD KILL MY BABY. LISA REALIZED IT AND SHE SAID, YOU REALIZE YOU'RE TALKING ABOUT MY CHILD. WHEN WE COME FACE TO FACE AND WE TISSUE I HEAR OF PLANNED PARENTHOOD CAVALIERLY TALKING ABOUT A CHOICE TO KILL A BABY, IT IS HORRIFYING IN THIS BODY, THROUGH RECONCILIATION HAS ADDRESSED THAT, THERE WAS A CHOICE MADE THIS WEEK. YOU HAD A CHANCE TO VOTE FOR LIFE. IF YOU VOTED NO, YOU VOTED AGAINST LIFE. DON'T TRY TO MAKE IT ANY OTHER THING. THE COUNTRY HAS A CHOICE. COMING UP THIS YEAR. IT CAN TAKE A CULTURE OF LIFE FROM CONCEPTION TO DEATH, NATURAL DEATH, OR IT CAN CONTINUE TO VALUE LIFE AS MAN DOES. AS THROW-AWAY. YOU SEE, PRIORITIZING AND SAYING THIS IS WHAT WE BELIEVE, IS WHAT MAKES THIS LIFE, LIBERTY AND THE PURSUIT OF HAPPINESS. WORTH PURSUING. THEY TOLD US THAT JORDAN WOULD HAVE TROUBLE. THEY TOLD US THAT JORDAN, I HAD SOMEBODY ONE TIME IN A TOWN HALL SAY, HER QUALITY OF LIFE MAY -- YOU MAY HAVE DONE HER A DISSERVICE. WELL I SHOWED BACK MY ANGER AND TEARS AND I SAID, YOU DON'T KNOW MY DAUGHTER. YOU SEE, IT'S THAT TIME OF THE YEAR WHEN ELECTIONS COME AROUND, MY DAUGHTER JUST GOT BACK HOME FROM HER JOB SKILLS TRAINING, SHE'S LOOKING FOR A JOB. SHE'S 23 YEARS OLD. SHE'S BACK HOME, GOING OUT TO FIND WHERE SHE CAN MAKE A PLACE IN THIS WORLD. SHE HAS A SMILE THAT WILL LIGHT UP A ROOM. HER LITTLE CHAIR WHIPS AROUND FASTER THAN YOU CAN IMAGINE. AND I WAS THINKING ABOUT EVEN MY OWN ELECTION AND MY WIFE LOOKED AT ME THE OTHER NIGHT AND SHE SAID, YOU KNOW, YOU'VE GOT SOMETHING COMING UP THIS YEAR. I SAID WHAT'S THAT? SHE SAID, YOUR SECRET WEAPON COMES HOME ON FRIDAY. SHE'S DADDY'S GIRL. YOU SEE, LIFE IS WHAT YOU MAKE IT. LIFE IS NOT WHAT SOMEBODY ELSE SAYS YOUR LIFE IS. WHEN WE HAVE A CULTURE OF LIFE, ABORTION IS AN ABOMINATION TO THAT CULTURE OF LIFE. IT IS WHY WE NEED TO CONTINUE EVERY DAY TO PUT FORWARD A CULTURE OF LIFE ON THIS FLOOR, MR. SPEAKER. IT IS WHY WE WILL CONTINUE TO PUT FORWARD A CULTURE OF LIFE THAT SAYS WE VALUE ALL. AND WHEN WE DO THAT, NO ONE HAS TO ASK WHERE DOUGH COLLINS STANDS. DOUGH COLLINS STANDS -- DOUG COLLINS STANDS WITH LIFE. DOUG COLLINS STANDS WITH THOSE OF ALL. I'M ONE OF THOSE WHO BELIEVES NO MATTER WHO YOU SEE IN A DAY, WHEN YOU LOOK IN THEIR EYE YOU SEE SOMEONE OF INFINITE WORTH, INFINITE VALUE, NOT BECAUSE OF ANYTHING THEY'VE DONE BUT BECAUSE OF THE LIFE PUT INTO THEM BY THEIR CREATOR. IT IS ABORTION THAT TAKES THAT AWAY. IT IS WHY I WILL CONTINUE TO COME TO THIS FLOOR AS MANY TIMES AS I POSSIBLY CAN AND STAND FOR LIFE. BECAUSE THAT IS THE LIFE AND THE LIBERTY AND THE PURSUIT OF HAPPINESS THAT OUR FOUNDERS SPOKE OF. AND WITH THAT, MR. SPEAKER, I YIELD BACK.

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  • 06:25:32 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK. UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY…

    THE GENTLEMAN YIELDS BACK. UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 6, 2015, THE CHAIR RECOGNIZES THE GENTLEMAN FROM IOWA, MR. KING, FOR THE REMAINDER OF THE HOUR AS THE DESIGNEE OF THE MAJORITY LEADER.

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  • 06:25:46 PM

    THANK YOU, MR. SPEAKER. MR. SPEAKER, IT'S MY HONOR TO BE RECOGNIZED TO…

    THANK YOU, MR. SPEAKER. MR. SPEAKER, IT'S MY HONOR TO BE RECOGNIZED TO ADDRESS YOU HERE ON THE FLOOR OF THE UNITED STATES HOUSE OF REPRESENTATIVES AND I APPRECIATE YOUR ATTENTION TO THESE MATTERS THAT COME BEFORE THE HOUSE AND THE HOUSE MEMBERS THAT ARE IN ATTENDANCE AND OBSERVING IN THEIR OFFICE AND ALL THE STAFF PEOPLE AROUND, MR. SPEAKER. IT'S AN -- IT'S IMPORTANT THAT WE CARRY THESE MESSAGES OUT. I COME TO THE FLOOR TONIGHT TO RAISE A TOPIC THAT IS IMPORTANT TO ALL AMERICANS, ESPECIALLY THE AMERICANS WHO TAKE OUR CONSTITUTION SERIOUSLY, AND EVEN MORE IMPORTANTLY THOSE AMERICANS WHO HAVE TAKEN AN OATH TO SUPPORT AND DEFEND THE CONSTITUTION AND THAT WOULD INCLUDE ALL OF OUR SERVICE MEN AND WOMEN, ALONG WITH MANY LAW ENFORCEMENT OFFICERS AND OFFICERS OF THE ARTICLE 3 COURTS AND THE ENTIRE HOUSE OF REPRESENTATIVES AND THE ENTIRE UNITED STATES SENATE AND TO MY KNOWLEDGE AND THE ENTIRE BODY OF LEGISLATORS ACROSS THE COUNTRY IN THE STATE LEGISLATURES, AS I HAVE MANY TIMES A NUMB OF TIMES, TAKEN AN OATH TO SUPPORT AND DEFEND OUR UNITED STATES CONSTITUTION BUT IN THE STATE SENATE ALSO THE CONSTITUTION OF THE STATE OF IOWA. THESE ARE -- OUR FOUNDING FATHERS STRUCTURED OUR CONSTITUTION SO WE'D HAVE THREE BRANCHES OF GOVERNMENT AND SOME SAY THREE EQUAL BRANCHES OF GOVERNMENT. I DO NOT COMPLETELY AGREE WITH THAT ASSESSMENT, MR. SPEAKER. I'D SAY INSTEAD, I'D CONTEND, THAT THE THREE BRANCHES OF GOTH WERE SEPARATE AND THEY'RE SEPARATE BUT THE JUDICIAL BRANCH OF GOVERNMENT WAS DESIGNED TO BE THE WEAKEST OF THE THREE. AND O-- AND OUR FOUNDING FATHERS UNDERSTOOD THAT THERE WOULD BE COMPETITION BETWEEN THE BRANCHES OF GOVERNMENT. SO AS PART OF THIS DISCUSSION I'D LIKE TO ANNOUNCE INTO THE RECORD HERE, MR. SPEAKER, THAT OUR CHAIRMAN OF THE JUDICIARY COMMITTEE, CHAIRMAN GOODLATTE, HAS INITIATED A TASK FORCE, A TASK FORCE THAT IS DESIGNED TO ADDRESS THE ARTICLE 1 OVERREACH OF THE PRESIDENT OF THE UNITED STATES AND THE EXECUTIVE BRANCH. NOT ONLY THIS PRESIDENT, BUT PREVIOUS ADMINISTRATIONS AS WELL. AND I APPRECIATE AND COMPLIMENT CHAMPLEE GOODLATTE FOR HIS INSIGHT AND -- AND COMPLIMENT CHAIRMAN GOODLATTE FOR HIS INSIGHT AND WORK ON THIS. I TAKE HIM FOR THAT, I'LL BE CHAIRING THE TASK FORCE ON EXECUTIVE OVERREACH. IT WILL BE COMPRISED OF MEMBERS OF THE JUDICIARY COMMITTEE, REPUBLICANS AND DEMOCRATS. IT WILL BE BIPARTISAN. I HAD HOPED IT WOULD BE NONPARTISAN. JUDGING FROM SOME OF THE TONE IN THE DEBATE TODAY THERE COULD BE A LITTLE FLAVOR OF PARTISANSHIP IN THERE, MR. SPEAKER. SO THAT'S FINE BECAUSE THAT'S HOW WE BRING ABOUT OUR DISAGREEMENTS. BUT IN ANY CASE, THE TASK FORCE HAS BEEN SET UP AND IT WILL FUNCTION FOR SIX MONTHS, SOME TIME IN AUGUST, ITS AUTHORIZATION WILL EITHER EXPIRE OR IT WILL BE RE-AUTHORIZED AND EXTENDED FOR ANOTHER PERIOD OF TIME AND THE THEME IS, AGAIN, RESTORING THE ARTICLE 1 AUTHORITY OF OUR CONGRESS AND ADDRESS THE EXECUTIVE OVERREACH. THE CIRCUMSTANCES THAT BRING US TO THIS POINT ARE MYRIAD AND THE OBJECTIVES OF THE TASK FORCE, AS I WOULD DESIGN THEM AND THE OBJECT OF A CHAIR OF A COMMITTEE IS TO BRING OUT THE WILL OF THE GROUP, I WOULD POINT OUT, MR. SPEAKER, BUT THE OBJECT IS, AND THE PLAN AND THE STRATEGY IS THIS. FIRST, IT'S MY INTENTION TO INTAKE ALL OF THE INPUT WE GET FROM DEMOCRATS AND REPUBLICANS FROM THE BIPARTISAN SIDE AND THE COMMITTEE TO BUILD A RATHER EXPANSIVE LIST OF THE EXECUTIVE OVERREACH THAT WE'VE SEEN FROM ARTICLE 2 BRANCH OF GOVERNMENT. THAT EXPANSIVE LIST, SAY IT THAT WAY SO WE BRING EVERYTHING INTO OUR CONSIDERATION, THEN ONCE THAT EXPANSIVE LIST IS MADE, THEN TO PARE IT DOWN TO THE HINGE THINGS THAT CAN BE SUSTAINED AS THE AUTHORITY OF THIS CONGRESS VERSUS THE AUTHORITY OF THE EXECUTIVE BRANCH OF GOVERNMENT. I WOULD POINT OUT THAT THE EXEC TIFF OVERREACH ISN'T ONLY ABOUT THE UNCONSTITUTIONAL OVERREACHES THAT HAVE TAKEN PLACE, ESPECIALLY RECENTLY WITHIN THIS ADMINISTRATION BUT IT'S ALSO, MR. SPEAKER, IT'S ABOUT THE CONSTITUTIONAL OVERREACH WHEN A PRESIDENT WILL ACT UNDER AUTHORITY THAT MAYBE HAS BEEN GRANTED TO THE EXECUTIVE BRANCH BY THE LEGISLATIVE BRANCH OF GOVERNMENT OR AN AUTHORITY THAT'S BEEN EXPANDED OFF OF AN AUTHORITY THAT WAS GRANTED BY THE UNITED STATES CONGRESS. AND A BIG PIECE OF THIS WILL BE THE RULES AND REGULATIONS THAT ARE -- THE AUTHORITY THAT WE HAVE GRANTED TO THE EXECUTIVE BRANCH OF GOVERNMENT UNDER THE ADMINISTRATIVE PROCEDURES ACT AND WE KNOW THAT WHEN THE EXECUTIVE BRANCH PUBLISHES RULES, THOSE RULES HAVE BEEN -- WE'VE BEEN GETTING MORE AND MORE RULES PUBLISHED AND ONCE THEY'RE PUBLISHED FOR THE PRESCRIBED AMOUNT OF TIME AND THE COMMENT PERIOD FOR THE PRESCRIBED AMOUNT OF TIME ARE ALLOWED AND THE AMERICAN PUBLIC IS ALLOWED TO WEIGH IN AT A CERTAIN POINT, THEY'VE COMPLIED WITH THE REQUIREMENT SO THE ADMINISTRATIVE -- OF THE ADMINISTRATIVE PROCEDURE ACT AND THE RULE GOES INTO EFFECT. THEY HAVE THE FULL FORCE AND THAT'S TROUBLING TO ME. OUR FOUNDING FATHERS ENVISIONED. THIS THEY GAVE US A REPUBLICAN FORM OF GOVERNMENT AND A CONSTITUTIONAL REPUBLIC. THIS CONSTITUTIONAL REPUBLIC IS DESIGNED TO BE A LIMITED GOVERNMENT. THEY DIDN'T ENVISION THAT THE FEDERAL GOVERNMENT WOULD GROW TO THE EXPANSIVE LENGTHS THAT IT HAS. THEY THOUGHT THEY WOULD BE ABLE TO KEEP IT IN A NARROW, LIMITED FORM AND THAT THE STATES WOULD BE -- THE STATES WOULD BE DEALING WITH THE MORE DETAILED AND THE ISSUES THAT THE FEDERAL GOVERNMENT WAS NOT THE BENEFIT OF. SO WE HAVE THE INNUMERATED POWERS. THEY INTENDED FOR US TO STAY WITHIN THOSE. THE DEFINITIONS THAT HAVE COME FORWARD HERE BY CONGRESS, THEY'VE REACHED OUT AND STRETCHED THE LIMITS OF THE ENUMERATED POWERS. THEY DIDN'T MANAGE THERE WOULD BE SPEED LIMITS ON THE DIRT TRAILS THAT HAD HORSES AND BUGIES ON THEM AND THEY DIDN'T IMAGINE THE FEDERAL GOVERNMENT WOULD BE SUBSIDIZING ROADS IN A WAY THAT WOULD ALLOW THE FEDERAL GOVERNMENT TO SET SPEED LIMITS ACROSS THIS COUNTRY. THAT'S AN EXAMPLE OF EVENTS THAT HAVE GIVEN THE FEDERAL GOVERNMENT, THIS CONGRESS, AUTHORITY TIED TO THE DOLLARS THAT OUR FOUNDING FATHERS DIDN'T ENVISION. IT'S ONE THAT I THINK SIMPLY WE CAN UNDERSTAND. THERE IS A PROPER ROLE FOR THE FEDERAL GOVERNMENT. THERE'S A PROPER ROLE IN REQUIRING CONDITIONS THAT GO ALONG WITH FEDERAL DOLLARS. I ILLUSTRATE THAT POINT, THOUGH, TO ILLUSTRATE HOW FAR WE HAVE DIVERGED FROM THE INTENT OF OUR FOUNDING FATHERS. AS OUR FOUNDING FATHERS FRAMED THE CONSTITUTION, IT WOULD BE PASSED HERE IN THE UNITED STATES CONGRESS, AND NOT BY THE EXECUTIVE BRANCH OF GOVERNMENT AND NOT BY THE JUDICIAL BRANCH OF GOVERNMENT, THAT SEPARATION OF POWERS WAS ENVISIONED TO BE THIS. CONGRESS HAS THE LEGISLATIVE AUTHORITY. IT'S ARTICLE ONE, IT'S ARTICLE ONE FOR RAN. BECAUSE THE VOICE AND THE POWER OF THE PEOPLE IS VESTED IN THIS CONGRESS. OUR FOUNDING FATHERS ENVISIONED THAT THE POLICY WOULD COME FORTH HERE FROM THE VARIOUS POPULATIONS OF THE 13 ORIGINAL COLONIES AND THE STATES THAT LATER JOINED. SO TODAY, IF WE APPLIED THE VISION OF THE FOUNDING FATHERS, WE WOULD LIKE AT 50 STATES AND THE TERRITORIES AND WE WOULD IMAGINE THAT THERE ARE THREE -- THERE'S JUST SIMPLY CLOSE TO A FACT THAT THERE ARE 320 MILLION PEOPLE ACROSS THOSE 50 STATES AND THE TERRITORIES. AND THAT OUT OF THOSE 320 MILLION PEOPLE WOULD BE GENERATED IDEAS. THERE WOULD BE GRIEVANCES THAT WOULD BE BROUGHT FORWARD AND BROUGHT TO THE REPRESENTATIVES OF CONGRESS. AND THERE WOULD BE IDEAS GENERATED TO SOLVE THE VARIOUS PROBLEMS THAT WE HAVE IN OUR COUNTRY. THERE WOULD BE A CONSENSUS THAT MIGHT BE FORMED, THAT ON -- WHAT THE TAX RATE SHOULD BE, WHAT THE DEBT BURDEN COULD BE ALLOWED TO BE, WHAT THE SIZE OF GOVERNMENT COULD BE ALLOWED TO BE. OUR FOUNDING FATHERS ENVISIONED THAT AND THEY ENVISIONED THAT THE VOICE OF THE PEOPLE WOULD BE TRANSFERRED AND TRANSLATED UP THROUGH, OUT OF THE POPULATION, INTO THE MIND AND HEART AND ACTIVITY OF THEIR ELECTED REPRESENTATIVE. AND THEY ENVISIONED, NOW AS FAR AWAY AS GUAM, TO WASHINGTON, D.C., THE CORNERS OF THE UNITED STATES, ALASKA TO HAWAII TO FLORIDA TO MAINE, AND DOWN TO CALIFORNIA CERTAINLY, THAT ALL OF THE IDEAS WITHIN THAT WOULD HAVE TO COMPETE WITH OTHER IDEAS. AND THAT THEIR ELECTED REPRESENTATIVES IN THIS REPUBLICAN FORM OF GOVERNMENT THAT'S GUARANTEED IN OUR CONSTITUTION WOULD BRING THE BEST OF THOSE IDEAS, NOT ALL OF THEM, NOT THE CLUTTER OF BAD IDEAS, BUT SORT THOSE, CLUTTER OF THE IDEAS, TO -- SO THAT JUST THE CREAM OF THE CROP, THAT THE BEST IDEAS WOULD COME FROM THE CORNERS OF THE UNITED STATES AND BE BROUGHT HERE INTO THIS CONGRESS. AND THAT AN INDIVIDUAL MEMBER OF CONGRESS, ONE OF THE 435, WOULD BRING THOSE IDEAS INTO THE COMPETITION, THE IDEAS OF THE MARKETPLACE HERE. AND THE IDEAS OF THE MARKETPLACE HERE WOULD HAVE TO COMPETE AGAINST EACH OTHER. AND OF THE NOW 435 MEMBERS, THERE WOULD BE VARIOUS IDEAS THAT WOULD COMPETE WITH OTHER IDEAS AND THAT THE BEST IDEAS THAT COULD DEVELOP THE CONSENSUS OUT OF THE VOICE OF THE PEOPLE WOULD BE SORTED HERE IN THIS CONGRESS AND WE WOULD ADVANCE THOSE IDEAS THAT REFLECTED THE WILL OF WE THE PEOPLE. THAT'S THE VISION OF THIS REPUBLICAN FORM OF GOVERNMENT, THAT'S THE VISION THAT REQUIRED THAT THE CONGRESS BE ESTABLISHED BY ARTICLE 1. THE VISION FOR ARTICLE 2 WAS THAT WE WOULD BE -- THE EXECUTIVE BRANCH WOULD BE HEADED BY A PRESIDENT OF THE UNITED STATES, WHO IS THE COMMANDER IN CHIEF OF OUR ARMED FORCES, WHO WOULDN'T HAVE ANY ARMED FORCES IF IT WEREN'T FOR CONGRESS HAVING THE ENUMERATED POWER TO ESTABLISH A MILITARY, AN ARMY AND A NAVY AND SUBSQUENTS TO THAT AN AIR FORCE. SO THE FOUNDING FATHERS ENVISIONED THE EXECUTIVE BRANCH AND THE PRESIDENT OF THE UNITED STATES AND THE PRESIDENT SPECIFICALLY THE COMMANDER IN CHIEF OF OUR ARMED FORCES AND HIS OATH IS TO PRESERVE, PROTECT AND DEFEND THE CONSTITUTION OF THE UNITED STATES. THAT'S THE OATH, SO HELP HIM GOD. AND THAT HE TAKE CARE THAT THE LAWS BE FAITHFULLY EXECUTED. THAT'S THE TAKE CARE CLAUSE. SOME OF US SAY SOMEWHAT FACETIOUSLY THAT THE PRESIDENT OF THE UNITED STATES TOOK THAT WRONG AND DECIDED TO EXECUTE THE CONSTITUTION INSTEAD OF TAKING CARE OF THE LAWS -- THAT THE LAWS BE FAITHFULLY EXECUTED. THAT'S SOMETHING THAT WE WILL DEBATE AND DISCUSS IN THE TASK FORCE THAT ADDRESSES THE EXECUTIVE OVERREACH, MR. SPEAKER. AND YET, AS OUR FOUNDING FATHERS ALSO ESTABLISHED ARTICLE 3, WHICH IS THE COURTS. AND I'LL SPEAK TO THAT BRIEFLY IN THIS SEGMENT, MR. SPEAKER. BECAUSE MOST OF THE FOCUS OF THIS TASK FORCE IS ON THE EXECUTIVE OVERREACH AND WE DO NEED TO LOOK INTO THE JUDICIAL OVERREACH AS WELL AND I BELIEVE THAT THERE IS AN EFFORT TO GIVE THAT A REVIEW AS WELL. BUT THE CONSTITUTION REQUIRES THAT THERE BE A SUPREME COURT, IT ESTABLISH A SUPREME COURT. THEN THE VARIOUS OTHER COURTS ARE AT THE DISCRETION OF CONGRESS. SO, I HAVE MADE THIS ARGUMENT TO JUSTICE SCALIA IN A SOMEWHAT SEMIFORMAL THE CITY INSURGENTING, I MAY SAY AN INFORMAL SETTING, A FEW YEARS AGO. IN THE CONSTITUTION, IF YOU READ ARTICLE 3, THE ONLY COURT THAT IS REQUIRED BY THE CONSTITUTION IS THE SUPREME COURT. AND IT'S REQUIRED THAT IT BE LED AND HEADED BY A CHIEF JUSTICE. AND AS YOU LOOK AT THE LANGUAGE IN THE CONSTITUTION, I ARGUED, I ARGUED THAT THE SUPREME COURT IS NOT REQUIRED TO BE -- FIRST OF ALL, THERE ARE NO OTHER FEDERAL COURTS THAT ARE REQUIRED. THE AUTHORITY TO ESTABLISH THEM IS GRANTED IN ARTICLE 3 TO CONGRESS. AND SO CONGRESS CAN DEVELOP ALL THE FEDERAL COURTS THAT THEY CHOOSE TO, OR THEY COULD DECIDE TO ESSENTIALLY ABOLISH ANY OF THE FEDERAL DISTRICTS, IN THEORY AT LEAST THEY COULD ABOLISH ALL OF THE FEDERAL DISTRICTS. THE ONLY FEDERAL COURT THAT'S REQUIRED UNDER THE CONSTITUTION IS THE SUPREME COURT. SO, UNDER CONSTITUTIONAL AUTHORITY, CONGRESS COULD ELIMINATE AND REDUCE THE FEDERAL COURT SYSTEM ALL THE WAY DOWN TO THE SUPREME COURT AND THEN THERE'S NO REQUIREMENT THAT THERE BE NINE JUSTICES OR SEVEN OR FIVE OR THREE. THERE IS A REQUIREMENT THAT THERE BE A CHIEF JUSTICE. SO IN THE END, IF CONGRESS WANTED TO CONTROL THE JUDICIAL BRANCH, THEY COULD REDUCE THE JUDICIAL BRANCH DOWN TO THE CHIEF JUSTICE AND IT'S NOT REQUIRED TO HAVE A SUPREME COURT BUILDING OR A BUDGET THAT COULD REDUCE THE CHIEF JUSTICE DOWN TO HIMSELF OR HERSELF, AS THE CASE MAY BE, AT HIS OWN CARD TABLE, WITH HIS OWN CANDLE, NO STAFF. THAT'S HOW NARROW AND SMALL THE JUDICIAL BRANCH OF GOVERNMENT COULD BE IF CONGRESS DECIDED TO UTILIZE ITS CONSTITUTIONAL AUTHORITY. OF COURSE WE DON'T DO THAT. BUT THERE IS A HISTORY OF TWO JUDICIAL FEDERAL DISTRICTS BEING ABOLISHED BY THIS CONGRESS. BACK IN ABOUT 1802. IT WAS DEBATED IN THE HOUSE AND THE SENATE AND SUCCESSFULLY ELIMINATED A COUPLE OF FEDERAL DISTRICTS. I DON'T SUGGEST WE COULD THAT -- DO THAT AT ALL, MR. SPEAKER. FOR THOSE THAT WOULD GET ON THEIR TWITTER ACCOUNT. ILLUSTRATING THE FUNCTION OF THE CONSTITUTION ITSELF. BUT THE JUDICIAL BRANCH OF GOVERNMENT, I'VE NOW DEFINED IT DOWN TO THAT, AND IT EXPLAINS THAT THE THIRD BRANCH, ARTICLE 3, THE THIRD BRANCH OF GOVERNMENT, WAS NOT DESNED TO BE A CO-EQUAL BRANCH OF GOVERNMENT. IT WAS DESIGNED TO BE THE WEAKEST OF THE THREE BRANCHES OF GOVERNNT AND THEN MARBURY VERSUS MADISON CAME ALONG THAT ESTABLISHED JUDICIAL REVIEW AND OFF WE ARE TO THE RACES AND THE GROWTH OF THE JUDICIAL BRANCH OF GOVERNMENT. AND THAT CAN BE SHRUNK OR IT CAN BE ALLOWED TO GROW AND ITS INFLUENCE CAN BE ALLOWED TO GROW OR IT COULD BE SHRUNK. BUT I WOULD MAKE THE POINT, MR. SPEAKER, THAT IT ISN'T ONLY THE SUPREME COURT THAT WEIGHS IN ON WHAT THE CONSTITUTION SAYS. IT'S EACH ONE OF US HERE IN THIS CHAMBER, EACH SENATOR DOWN AT THE OTHER END OF THE UNITED STATES CAPITAL BUILDING, WE ALL HAVE OUR -- CAPITOL BUILDING, WE ALL HAVE OUR OBLIGATION TO INTERPRET THE CONSTITUTION BECAUSE WE ALL TAKE AN OATH TO UPHOLD IT. AND WE'RE NOT TAKING AN OATH TO UPHOLD IT THE WAY THE SUPREME COURT WOULD AMEND IT. AND IN FACT THE NINE JUSTICES OF THE SUPREME COURT OR FIVE AS THE CASE MAY BE ARE THE LAST PEOPLE ON THE PLANET THAT SHOULD BE AMENDING THE CONSTITUTION OF THE UNITED STATES. WHETHER IT IS A LITERAL AMENDMENT OR WHETHER IT IS A DE FACTO AMENDMENT, AS WHAT HAS TAKEN PLACE WITH REGARD TO THE CASE, FOR EXAMPLE, MR. SPEAKER. SO THE JUDICIAL BRANCH OF GOVERNMENT, ARTICLE 3, IS DESIGNED TO BE THE WEAKEST OF THE THREE BRANCHES OF GOVERNMENT. IF IT STAYED THAT WAY OR IF IT BECOMES THAT AGAIN, WE STILL HAVE THE CONFLICT, THE STRUGGLE FOR POWER THAT'S GOING ON BETWEEN ARTICLE 1, THE CONGRESS, ARTICLE 2, THE PRESIDENT AND THE EXECUTIVE BRANCH, ARTICLE 3, THE COURTS, AND THAT STATIC BALANCE THAT'S THERE BETWEEN THE THREE BRANCHES OF GOVERNMENT. THERE'S A LITTLE TUG OF WAR GOING ON FOR THE BALANCE BETWEEN EACH OF THOSE BRANCHES OF GOVERNMENT AND OUR FOUNDING FATHERS ENVISIONED THAT IT WOULD BE IMPOSSIBLE TO PRECISELY DEFINE THE DIFFERENCES, THE POWER STRUCTURE BETWEEN THE THREE BRANCHES OF GOVERNMENT. THEY DID, I THINK, A REALLY GOOD JOB GIVEN THE LIMITS OF LANGUAGE AND IMAGINATION, AND ALSO THE LIMITS OF NOT HAVING A COMPLETE CRYSTAL BALL AND WHAT WOULD HAPPEN HERE IN THIS COUNTRY. BUT THEY UNDERSTOOD THAT EVEN THOUGH THEY DEFINED IT AS PRECISELY AS I THINK WAS AUMLY -- HUMANLY POSSIBLE IN THAT PERIOD OF TIME AND EVEN NOW TODAY, THEY UNDERSTOOD THAT EACH BRANCH OF GOVERNMENT WOULD JEALOUSLY PROTECT THE AUTHORITY GRANTED TO IT WITHIN ITS PARTICULAR ARTICLE WITHIN THE CONSTITUTION. AND FOR A LONG TIME, THAT IS WHAT HAPPENED. AND EVEN NOW WE HAVE DEBATES ABOUT WHAT AUTHORITY THE CONGRESS HAS VERSUS WHAT AUTHORITY THE PRESIDENT HAS. THAT IS THE HEART OF THE EXECUTIVE OVERREACH TASK FORCE THAT WAS ESTABLISHED TODAY IN THE JUDICIARY COMMITTEE. I'LL SAY THE BRAIN CHILD OF CHAIRMAN GOODLATTE. AND DON'T BELIEVE THAT THE CONGRESS HAS DONE A VERY GOOD JOB OF DEFENDING AND JEALOUSLY PROTECTING ITS CONSTITUTIONAL AUTHORITY. IT STARTED A LONG TIME AGO. SOMEONE TODAY SAID 100 YEARS AGO. AND AS CONGRESS BEGAN DELEGATING AUTHORITY TO THE EXECUTIVE BRANCH OF GOVERNMENT. IT WAS ACCELERATED WITH THE PASSAGE OF THE ADMINISTRATIVE PROCEDURES ACT, WHICH AS I LOUIS THE EXECUTIVE BRANCH OF -- WHICH ALLOWS THE COMBECKTIVE BRANCH OF GOVERNMENT, IT SETS OUT THE PARAMETER TERS FOR -- PARAMETER FOR THE EXECUTIVE BRANCH OF GOVERNMENT TO WRITE REGULATIONS. THAT CAME ABOUT BECAUSE THIS CONGRESS WAS OVERWHELMED WITH ALL OF THE FUNCTIONS OF A GROWING FEDERAL GOVERNMENT. AND THE VARIOUS COMMITTEES AND THE VARIOUS TASK FORCES THAT ARE ESTABLISHED HERE IN THIS CONGRESS, THEY GREW AND THEY MEERNLED OUT OF THE DUTIES OF THIS CONGRESS -- RECOGNIZED. BUT AT A CERTAIN POINT CONGRESS WAS BOGGED DOWN WITH THE DETAILS OF GOVERNING AND SO WILLINGLY, TO TAKE SOME OF THAT WORK LOAD OFF OF THEIR BACK, THEY DELEGATED IT TO THE EXECUTIVE BRANCH OF GOVERNMENT AND IN DOING SO THEY HAD TO DELEGATE AUTHORITY TO THE EXECUTIVE BRANCH OF GOVERNMENT TOO. WELL, NOT ONLY WAS IT THE WORK LOAD IN MY OPINION, MR. SPEAKER, BUT IT ALSO WAS SOMETIMES THE POLITICAL HEAT THAT'S REQUIRED TO DO THE RIGHT THING. I'VE SEEN THIS IN THE STATE LEGISLATURE, I'VE SEEN THIS IN CONGRESS MULTIPLE TIMES. ISSUES COME UP, YOU CAN'T REACH AGREEMENT. ONE SIDE OR THE OTHER IS SCORING POLITICAL POINTS. SOMETIMES IT'S BOTH SIDES SCORING POLITICAL POINTS. AND THE HEAT OF THAT GETS SO GREAT SOMETIMES IT BRINGS ABOUT A DECISION HERE. BUT ALSO THE HEAT OF THAT MIGHT CAUSE THE LEGISLATIVE BRANCH OF GOVERNMENT TO PASS THAT RESPONSIBILITY OVER TO THE EXECUTIVE BRANCH, TAKE THE HEAT OFF, LET THEM MAKE THE DECISION, AND SO THE RESULT OF EXECUTIVE DECISIONS TAKING AUTHORITY MIGHT BE, LET ME PICK AN EXAMPLE, THE WATERS OF THE UNITED STATES RULE. WHERE THIS EXECUTIVE BRANCH, DURING THE TERM OF THIS PRESIDENT, OBAMA, DECIDED THAT THEY WANTED TO REGULATE A LOT MORE OF THE REAL ESTATE IN THE UNITED STATES OF AMERICA. AND I LOOK BACK AT A TIME IN ABOUT 1992 WHEN I SAW ANOTHER EFFORT TO DO THE SAME THING, AS THERE WAS A DESIGNATION IN MY STATE THAT WAS DRIVEN BY THE E.P.A. TO DESIGNATE 115 STREAMS IN IOWA AS PROTECTED STREAMS. NOW, LOOKING AT THAT LIST OF PROTECTED STREAMS, I BEGAN WONDERING WHY WOULD THEY CALL SOME DRAINAGE DITCHES PROTECTED STREAMS? AND I READ DOWN THROUGH THE RULE AND IN THERE IT SAID, IN ORDER TO PRESERVE THE NATURAL BEAUTY, THESE STREAMS, ACCORDING TO THEIR GEOGRAPHICALLY DEFINED BOUNDARIES IN THE RULE, WHICH I NEVER ACTUALLY SAW THE GEOGRAPHICALLY DEFINED BOUNDARIES, THEY JUST SAID THEY WERE THERE, I DON'T KNOW THAT THEY WERE, BUT ACCORDING TO THEIR GEOGRAPHICALLY DEFINED BOUNDARIES, THESE STREAMS SHALL BE PROTECTED STREAMS AND THESE STREAMS AND WATERS HYDROLOGICALLY CONNECTED TO THEM. I'LL PUT THAT IN QUOTES, MR. SPEAKER. QUOTE, AND WATERS HYDROLOGICALLY CONNECTED TO THEM, CLOSED QUOTE. WHEN I READ THE LANGUAGE AND SAW THAT THAT WAS THE RULE THAT WAS PUBLISHED, I BEGAN TO GO AND DELIVER THE PUBLIC COMMENT AND ASKED THE REPRESENTATIVES OF THE RULE WRITERS, WHAT DOES HYDROLOGICALLY CONNECTED TO MEAN? THEIR ANSWER WAS, WE DON'T KNOW. AND SAID, THEN TAKE IT OUT OF THE RULE. . THEY SAID, WE CAN'T. SO YOU'RE REPRESENTING SOMETHING YOU DON'T KNOW WHAT IT MEANS YOU BUT -- BUT YOU CAN'T TAKE IT OUT. THAT'S RIGHT. THIS IS THE PUBLISHED RULE THAT BROUGHT ABOUT A BATTLE WITHIN THE STATE OF IOWA AND EVENTUALLY THEY GOT THE RULE IN THAT SAID THESE STREAMS AND WATERS HYDROLOGICALLY CONNECTED TO THEM WILL BE REGULATED BY THE REGULATORS AND THEY WILL DECIDE WHAT PRACTICES THE RIGHTFUL PROPERTY OWNER CAN IMPLEMENT ON THAT REAL ESTATE THAT THEY'VE NOW DEFINED TO BE WITHIN THE REGULATION OF THE GOVERNMENT. AND THE PHRASE, WATERS HYDROLOGICALLY CONNECTED TO, BECAME THE TARGET OF YEARS AND YEARS OF LITIGATION. PERHAPS NEARLY 20 YEARS OF LITIGATION. MAYBE NRN 20 YEARS. I GUESS WE'D BE AT 25 OR SO YEARS OF LITIGATION. AND THEY FINALLY, THE COURTS CONCLUDED THAT THE PHRASE HYDROLOGICALLY CONNECTED TO WAS TOO VAGUE TO ENFORCE IT AND THE COLLECTION THE MENAGERIE OF THE ARTICLE 3 COURT'S RULING ON AN INITIATIVE BROUGHT FORWARD BY THE EXECUTIVE BRANCH OF GOVERNMENT THAT WAS NOT THE INTENTION OF THE LEGISLATIVE BRANCH OF GOVERNMENT TIED ALL THREE BRANCHES OF GOVERNMENT TOGETHER IN A CONFUSION THAT ERODED THE PROPERTY RIGHTS OF PEOPLE THAT WERE GUARANTEED THOSE PROPERTY RIGHTS UNDER THE FIFTH AMENDMENT AND ALL OF THAT WAS BEING LITIGATED THROUGH THAT PERIOD OF TIME WHEN WE SAW THE DECISION WHEN THE JUDGES DECIDED THEY COULD AMEND IT. I STOOD ON THIS FLOOR AND ALMOST UNKNOWINGLY QUOTED JUSTICE SANDRA DAY O'CONNOR'S MINORITY OPINION, THAT THE COURTS HAD TAKEN THREE WORDS OUT OF THE FIFTH AMENDMENT, THOSE THREE WORDS WERE FOR PUBLIC USE. NOR SHALL PRIVATE PROPERTY BE TAKEN WITHOUT JUST COMPENSATION. WE KNOW ABOUT THAT DEBATE TAKING PLACE BECAUSE A CANDIDATE BELIEVES THAT'S THE RIGHT THING, TO TAKE PEOPLE'S PRIVATE PROPERTY FOR PRIVATE USE IF YOU CAN CONVINCE THE GOVERNMENT THAT IT'S A BETTER USE AND PAYS MORE TAXES. I DISAGREE WITH THAT AND I BELIEVE THE KILO DECISION WILL BE REVERSED ONE DAY WHEN WE APPOINT CONSTITUTIONALISTS TO THE SUPREME COURT. AND I BELIEVE THE RESULT OF THAT OVER A PERIOD OF TIME IF WE GET THE RIGHT PRESIDENT WHO WILL MAKE THE RIGHT APPOINTMENTS TO THE SUPREME COURT, MR. SPEAKER. AND SO WHAT I'VE ILLUSTRATED HERE IS HOW THE THREE BRANCHES OF GOVERNME CANNTET INVOLVED IN A CONVOLUTED CONFLICT AND IN THAT CONVOLUTED CONFLICT THE TENSION BETWEEN THE THREE BRANCHES OF GOVERNMENT WAS DESIGNED TO GET SORTED OUT SO WE'D BE BACK TO THE CONSTITUTION ITSELF. AND THAT THE CONSTITUTIO WOULD RULE. BUT WHEN THE SUPREME COURT EFFECTIVELY STRIKES THREE WORDS OUT OF THE FIFTH AMENDMENT TO OUR CONSTITUTION, THEN WE HAVE THE COURT'S RULING WITHOUT THE WILL OF THE PEOPLE. AND THE WILL OF THE PEOPLE ARE GOING TO BE REFLECTED THROUGH, ESPECIALLY AND FIRST, THE HOUSE OF REPRESENTATIVES, A QUICK REACTION STRIKE FORCE. THERE'S A REASON WE ALL TAKE THE OATH TO UPHOLD THE CONSTITUTION SO WE UNDERSTAND IT, WE DEFINE IT, WE TAKE OUR OATH SERIOUSLY AND WE DEFEND IT. AND IN THE OTHER TWO PARTS OF THAT, WHEN YOU HAD AN EXECUTIVE BRANCH THAT INITIATED A POLICY, PROTECT ITS STREAMS THAT WASN'T THE INITIATIVE OF THE LEGISLATURE, THEN OFF SUPERLEGISLATURE OUTSIDE THE PURR STHRIFE LEGISLATIVE BODY AND DETRACTORS WILL TURN AROUND AND SAY, BUT, ANY RULE THAT'S PASSED CAN BE NULLIFIED BY THE UNITED STATES CONGRESS. SO WHY DO YOU WORRY ABOUT THAT? WHY DON'T YOU JUST DO YOUR JOB IN CONGRESS AND -- WHY DON'T YOU JUST DO YOUR JOB IN CONGRESS AND NULLIFY THE RULES IF YOU DON'T LIKE THEM? MR. SPEAKER, IT WORKS A LITTLE DIFFERENT THAN THAT, OF COURSE, ESPECIALLY WHEN YOU HAVE A PRESIDENT OF THE UNITED STATES THAT WILL VETO THAT LEGISLATION THAT WOULD BE NULLIFYING THE RULE. SO WE'RE BACK INTO THE CIRCLE AGAIN IF THE PRESIDENT INITIATES A RULE, WHETHER OR NOT -- I'LL SAY WITHOUT REGARD TO WHETHER THERE IS A COURT RULING ON THAT RULE, THE LEGISLATURE THEN WOULD BE OBLIGATED TO NULLIFY THE RULE BUT THE DIFFICULTY OF THAT IS IT TAKES A SUPER MAJORITY HERE THEN TO UNDO SOMETHING THAT APPOINTED BUT NOT ELECTED EXECUTIVE BRANCH OFFICIALS INITIATE. OFTEN WITHOUT THE KNOWLEDGE OF THE PRESIDENT OF THE UNITED STATES HIMSELF. THAT'S AN UPSIDE DOWN WAY TO GET THINGS DONE. IT'S DESIGNED TO BE THE WILL OF THE PEOPLE, THE VOICE OF THE PEOPLE OF THE UNITED STATES. THEY INITIATE THE POLICY, THEY SEND THAT POLICY UP THROUGH CONGRESS, CONGRESS IS TO BRING IT BEFORE OUR COMMITTEES, EVALUATE THE VARIOUS IDEAS, COMPETE, DEBATE THOSE IDEAS, VOTE THEM THROUGH THE VARIOUS SUBCOMMITTEES AND COMMITTEES AFTER HAVING HEARINGS SO THE PUBLIC CAN SEE WHAT'S GOING ON, OUT IN THE OPEN, OUT IN THE SUNLIGHT, BRING IT TO THE FLOOR OF CONGRESS AND VOTE ON IT AND IF THE SENATE AGREES IT BECOMES LAW. IT'S NOT DESIGNED TO BE A SUPERLEGISLATURE IN THE EXECUTIVE BRANCH BUT THAT'S WHAT WE HAVE TODAY. WE HAVE THOUSANDS AND THOUSANDS OF PAGES OF REGULATION THAT ARE INITIATED BY A ROBUST EXECUTIVE BRANCH OF GOVERNMENT AND I EXPECT THAT IN THE DUREATION OF THIS ADMINISTRATION WE'VE HEARD FROM THE PRESIDENT OF THE UNITED STATES THAT HE SFWONEDS MAKE HIS DAYS COUNT AS WE COUNT DOWN TO THE END OF HIS PRESIDENCY. I TAKE HIM AT HIS WORD. HE'S BEEN -- HE'S HAD A ROBUST APPROACH TO STRETCHING THE LIMITS OF THE EXECUTIVE BRANCH OF GOVERNMENT THROUGHOUT ALM OF HIS TIME IN OFFICE AND NOW THAT HE'S SITTING IN A PLACE WHERE HE HAS THE APPROPRIATIONS' HE NEEDS FOR THE FUNCTIONING OF THE FEDERAL GOVERNMENT ALL THE WAY UP UNTIL SEPTEMBER 30 AND BY SEPTEMBER 30, THIS CONGRESS IS GOING TO BE IN A PLACE WHERE THEY'RE SEING THE LAST WEEKS OF A PRESIDENTIAL CAMPAIGN PLAY THEMSELVES OUT IN OCTOBER AND THEN EARLY IN NOVEMBER, SO WE'RE ABOUT PROBABLY RIGHT AT FIVE WEEKS, LET'S SEE, FIVE WEEKS FROM THE END OF THE FISCAL YEAR WILL BE THE VOTE FOR THE PRESIDENCY AND ABSENTEE BALLOTING WILL BE TAKING PLACE AT THE SAME TIME. THE PRESIDENT OF THE UNITED STATES HAS ALL THE LEVERAGE HE NEEDS -- HE'S GOT ALL THE TOOLS HE NEEDS HE'S GOT THE FUNDING HE NEEDS AND HE HAS A ROBUST IDEA THAT THE EXECUTIVE BRANCH OF GOVERNMENT SHOULD BE STRONGER, NOT WEAKER AND SHOULD DO MORE, NOT LESS. IF WE WONDER ABOUT THAT, WE CAN LOOK AT SOME OF THE ACTIONS OF THE PRESIDENT AND THE EXECUTIVE BRVERAGE OF GOVERNMENT THAT I TAKE GREAT ISSUE WITH. AND MANY OF THEM ARE TIED UP IN THE DEVELOPMENT AND THE IMPLEMENTATION OF OBAMACARE. OBAMACARE ITSELF, MR. SPEAKER, WAS LEGISLATION THAT WAS PASSED BY HOOK, BY CROOK, BY LEGISLATIVE SHENANIGAN, MARCH 22, 2010 WAS FINAL PASSAGE. AND THAT WAS A SAD DAY FOR AMERICA BECAUSE THE TWHOIFL PEOPLE WAS NOT REFLECTED IN THIS CONGRESS THAT DAY. IT WAS A DRAMATIC TIME TO BE HERE. AND THOSE THAT WILL ARGUE THAT WILL SAY, OH THE HOUSE PASSED THIS LEGISLATION, THE SENATE PASSED THIS LEGISLATION, IT ACTUALLY WAS A FUNCTION OF THE LEGISLATIVE BODY. I REPEAT AGAIN, HOOK, CROOK, LEGISLATIVE SHENANIGAN AND THAT'S NOT ONLY ME THAT SAYS THAT, MR. SPEAKER. THERE'VE BEEN DEMOCRATS THAT HAVE VOICED THE SAME THING. BUT THERE ARE IF FAR FEWER OF THEM THESE DAYS AS A RESULT OF FORCE FEEDING OBAMACARE TO THE UNITED STATES CONGRESS. AND SO AS THE PRESIDENT BEGAN IMPLEMENTING OBAMACARE, HE BEGAN CHANGING THE LAW. AND HE MADE SOME CHANGES ALONG THE WAY, FOR EXAMPLE, THE EMPLOYER MANDATE WAS DELAYED. THE INDIVIDUAL MANDATE WAS DELAYED. THERE WAS SOME LITIGATED TO THE SUPREME COURT, SOME OF THE CHANGES WERE NOT. THEY DECIDED WHICH COMPONENTS OF THE LAW HE WANTED TO IGNORE, WHICH ONE HE IS WANTED TO ENFORCE AND HE TOOK AN OATH, THOUGH, TO TAKE CARE THAT THE LAWS BE FAITHFULLY EXECUTED. THAT'S ALL OF THEM, NOT PART OF THEM. AS WE WENT THROUGH OBAMACARE TIME AFTER TIME AFTER TIME, THERE WERE CHANGES MADE ALONG THE WAY IN THE IMPLEMENTATION AND ENFORCEMENT OF OBAMACARE AND THAT BROUGHT ABOUT A GREAT DEAL OF CONFUSION IN THIS COUNTRY, UPSET A LOT OF PEOPLE, DISADVANTAGED A LOT OF PEOPLE, ADVANTAGED SOME PEOPLE, GRANTED WAIVER AFTER WAIVER FOR HIS FAVORITE PEOPLE THAT HE -- FAVORITE GROUPS AND ENTITIES THAT WERE HIS, I'LL SAY, PEOPLE THAT WERE TYPICALLY CONSIDERED TO BE HIS SUPPORTERS, I DIDN'T SEE MUCH RELIEF FOR THE PEOPLE WHO WERE TYPICALLY NOT CONSIDERED TO BE HIS SUPPORTERS SUCH AS THE LITTLE CYSTS OF THE POOR, FOR EXAMPLE, MR. SPEAKER. THEY'RE IN THE BUSINESS OF HAVING TO LITIGATE THEIR RELIGIOUS FREEDOM VERSUS AN IMPOSITION OF THE FEDERAL GOVERNMENT THAT THEY HAVE TO, UNDER ALL THEIR HEALTH INSURANCE POLICIES THAT THEY'RE NOW COMMANDED TO HAVE, THEY CARRY AND FUND, THAT THEY FOUND CONTRACEPTIVES THAT VIOLATE THEIR RELIGIOUS FREEDOM AND BY THE WAY, THEY VIOLATE MY RELIGIOUS CONVICTIONS AS WELL, MR. SPEAKER. SO WE HAVE A VERY ROBUST PRESIDENT WHO HAS LAID OUT A SERIES OF DEMANDS AND THROUGH OBAMACARE LEGISLATION, BUT ALSO WE'VE SEEN THIS HAPPEN WITH IMMIGRATION. THE PRESIDENT SAID PUBLICLY 22 TIMES, I DON'T HAVE THE CONSTITUTIONAL AUTHORITY TO DO WHAT YOU WANT ME TO DO, WHEN HE'S TALKING TO ILLEGAL IMMIGRANTS THAT ARE IN AMERICA, PRESSING THIS GOVERNMENT TO CHANGE THE POLICY TO ACCOMMODATE THEM IN THE FORM OF AMNESTY THAT I'VE DESCRIBED ON THIS FLOOR MANY TIMES, MR. SPEAKER. THE PRESIDENT SAID 22 TIMES, I DON'T HAVE THE CONSTITUTIONAL AUTHORITY TO DO THIS. BUT AFTER HE WAS WELL VETTED IN HIS POSITION, EXPLAINING THE CONSTITUTION, RIGHT OUT HERE IN A HIGH SCHOOL IN WASHINGTON, D.C., THE PRESIDENT ANSWERED A QUESTION FROM ONE OF THE STUDENTS AT THE HIGH SCHOOL AND HE SAID, I USED TO TEACH THE CONSTITUTION. WHICH HE DID FOR 10 YEARS AS AN ADVUNTH PROFESSOR AT THE UNIVERSITY OF CHICAGO. HE TAUGHT CONSTITUTION LAW. HE SAID THAT THE JOB OF CONGRESS IS TO WRITE THE LAWS. THE JOB OF THE PRESIDENT AND EXECUTIVE BRANCH IS TO ENFORCE THE LAWS. AND THE JOB OF THE JUDICIAL BRANCH OF GOVERNMENT IS TO INTERPRET THE LAWS. SO I WOULD BRING THIS BACK TO CHIEF JUSTICE ROBERTS, WHO SAID CLEARLY IN HIS CONFIRMATION HEARINGS SOME YEARS AGO, HIS JOB AS A JUSTICE IS TO CALL THE BALLS AND STRIKES. I AGREED WITH THAT AND IT WAS VERY ENCOURAGING TO HEAR THAT AND I SUPPORTED HIS CONFIRMATION. YET I SEE THAT ON JUNE 24 OF LAST YEAR, THAT WOULD BE A THURSDAY, THE OPINION ON OBAMACARE THAT WAS WRITTEN BY CHIEF JUSTICE ROBERTS IN A NARROW MAJORITY OPINION, WHERE JUSTICE ROBERTS JOINED WITH FOUR OTHER JUSTICES, THEY DECIDED THAT THEY COULD WRITE WORDS INTO OBAMACARE ITSELF. OR FEDERAL GOVERNMENT WOULD BE THE -- OR FEDERAL GOVERNMENT WOULD BE THE THREE WORDS SYSTEM OF MAYBE THE THREE WORDS THEY TOOK OUT OF THE FIFTH AMENDMENT, FOR PUBLIC USE, MAYBE THEY GET TO PUT THEM IN A BANK SOMEWHERE AND WHEN THEY NEED TO ADD WORDS TO LAW THEY CAN BORROW THEM FROM THAT WORD BANK IF THEY STRIKE THEM OUT OF THE CONSTITUTION, MAYBE THE THREE WORDS WERE LEFT IN THE WORD BANK AND THE SUPREME COURT COULD PULL THREE WORDS OUT AT CHOICE AND SAY, OR FEDERAL GOVERNMENT. SO NOW OBAMACARE READS, AN EXCHANGE ESTABLISHED BY THE STATE INSERT OR FEDERAL GOVERNMENT. NOW THAT'S WHAT HAPPENED AS THAT DECISION ON OBAMACARE, JUNE 24, THURSDAY, THE FOLLOWING DAY, SUPREME COURT ANNOUNCED THAT THEY HAD CREATED A NEW COMMAND IN THE CONSTITUTION. AND THE COMMAND IN THE CONSTITUTION IS NOT JUST A NEW RIGHT, REMEMBER I SAID THE SUPREME COURT SHOULD BE THE LAST PEOPLE ON THE PLANET TO AMEND THE CONSTITUTION? OR TO DISCOVER ANY NEW LANGUAGE IN IT? THEY'RE TO CALL THE BALLS AND STRIKES. THAT'S WHAT I AGREE WITH. THAT'S PART OF MY OATH, TO DEFEND THE CONSTITUTION IN THAT FASHION. BUT THE SUPREME COURT INSTEAD INSERTED THOSE WORDS INTO OBAMACARE, OR FEDERAL GOVERNMENT. AND THE FOLLOWING DAY THEY CREATED A COMMAND THAT SAYS NOT JUST THAT THERE'S A NEW RIGHT TO SAME-SEX MARRIAGE, MR. SPEAKER, BUT THERE'S A COMMAND THAT IF THE STATES ARE TO CONDUCT OR HONOR CIVIL MARRIAGE, THEY SHALL CONDUCT AND HONOR ALSO SAME SEX MARRIAGES WITHOUT REGARD TO THE CONVICTIONS OF THEIR PEOPLE WHO NO LONGER ENJOY THE 10TH AMENDMENT AUTHORITY TO ESTABLISH THAT POLICY ON MARRIAGE WITHIN THE STATES, THE FEDERAL GOVERNMENT TOOK THAT ONTO THEM THIS -- ONTO THEMSELVES, MR. SPEAKER AND ISSUED A, NOT JUST A RIGHT TO SAME SEX MARRIAGE BUT A COMMAND THAT EVERY -- THAT EVERYONE, ESPECIALLY THE STATES AND THE POLITICAL SUBDIVISIONS THEREOF, SHALL HONOR SAME SEX MARRIAGE. THAT IS A BREATHTAKING OVERREACH OF THE SUPREME COURT. WELL BEYOND ANYTHING THAT -- WORSE THAN THE WORST NIGHTMARE ANY OF OUR FOUNDING FATHERS WOULD HAVE HAD WITH REGARD TO THE LIMITATIONS OF THE GOVERNMENT. WE'RE SITTING HERE TODAY WITH A FEDERAL GOVERNMENT THAT HAS BEEN DISTORTED BEYOND WHAT WOULD BE THE BELIEF OF OUR FOUNDING FATHERS. AND THEY HAD THEIR SHARE OF FEARS. AND THIS CONGRESS NEEDS TO REASSERT ITSELF, NEEDS TO RE-ESTABLISH ITS CONSTITUTIONAL AUTHORITY, NEEDS TO TAKE A GOOD, HARD LOOK AT THE ARTICLE 1 AUTHORITY THAT'S VESTED TO IT IN THE CONSTITUTION ITSELF, AND RECOGNIZE THAT ALL LEGISLATIVE POWERS EXIST HERE IN THE HOUSE AND IN THE SENATE AND THAT THE OVERREACH OF THE EXECUTIVE BRANCH TAKES PLACE SOMETIMES BECAUSE CONGRESS WANTED TO TAKE THE HEAT OFF OF US AND WE GAVE THAT RESPONSIBILITY OVER TO THE EXECUTIVE BRANCH OF GOVERNMENT, SOMETIMES THE PRESIDENT DECIDES HE WANTS TO DO THINGS OUTSIDE THE BOUNDS OF HIS CONSTITUTIONAL AUTHORITY. SOMETIMES IT'S A MIX OF THE TWO. SOMETIMES IT'S THE PRESIDENT ENJOYS THE MAJORITY SUPPORT OF HIS PARTY IN THE HOUSE AND/OR THE SENATE AND IT'S MORE LIKE -- MORE LIKELY THAT MEMBERS OF HIS PARTY WILL BE -- WILL ACCEPT AN OVERREACH OF A PRESIDENT OF THEIR OWN PARTY, MORE LIKELY THAN THEY WILL A PRESIDENT OF THE OPPOSITE PARTY. IT'S ALSO TRUE, MR. SPEAKER, THAT WE HAVE DIFFERENT VIEWS ON WHAT IS EXECUTIVE OVERREACH AND WHAT THE CONSTITUTION SAYS. IN FACT, IN SOME OF THE DEBATE TODAY, I SAID THAT THE CONSTITUTION HAS TO MEAN WHAT IT SAYS. THE VERY LITERAL WORDS THAT ARE IN THE CONSTITUTION HAVE TO MEAN WHAT THEY SAY AND THEY HAVE TO MEAN TO ALL OF US WHAT THEY WERE UNDERSTOOD TO MEAN AT THE TIME OF RATIFICATION OF THE BASE DOCUMENT OF THE CONSTITUTION, AND ALSO OF THE VARIOUS AMENDMENTS AS WE MOVE ALONG THROUGH THE AMENDMENTS IN THE CONSTITUTION. WE NEED TO HAVE ENOUGH HISTORY TO UNDERSTAND WHAT THOSE AMENDMENTS AND WHAT THE CONSTITUTION MEANT TO THE PEOPLE THAT RATIFIED IT AND THEN WE NEED TO RECOGNIZE THAT THE CONSTITUTION ITSELF IS AN INTERGENERATIONAL GUARANTEE, AN INTERGENERATIONAL DOCUMENT, SIGNED OFF ON BY OUR FOUNDING FATHERS, WITH THEIR HAND, AND AGREED TO IN AN -- IN AN OATH TO THAT CONSTITUTION BY MILLIONS OF AMERICANS OVER TIME THAT THEY PLEDGED, MANY OF THEM, THEIR LIVES, THEIR FORTUNE, AND THEIR SACRED HONOR, TO SERVE PRORK TECT AND DEFEND, TO SUPPORT AND DEFEND, THE CONSTITUTION OF THE UNITED STATES. IT'S A DOCUMENT THAT'S FIXED INTO THE LETTER OF THE WORDS THAT ARE THERE IN THE CONSTITUTION AND THE UNDERSTANDING OF THOSE WORDS. NOT LIVING AND BREATHING, BUT AN INTERGENERATIONAL CONTRACTUAL GUARANTEE FROM OUR FOUNDING FATHERS DOWN TO OUR DESCENDANTS AS FAR AS THEY SHALL GO TO THE END OF THE REPUBLIC SHOULD IT EVER END, I PRAY IT DOES NEVER END AS LONG AS THIS EARTH EXISTS. . SO THE MULTIPLE GENERATIONAL GREAT-GREAT-GREAT-MANY TIMES-GREAT-GRANDFATHERS ALL THE WAY TO THE FOUNDING FATHERS SAID, HERE'S A CONTRACT AND I'M GOING TO PASS THIS CONTRACT INTO THE NEXT GENERATION AND THE NEXT GENERATION HAS TO PRESERVE, PROTECT AND DEFEND IT AND PASS IT TO THE NEXT GENERATION AND THE NEXT GENERATION. AND, AS RONALD REAGAN SAID, FREEDOM IS NOT SOMETHING THAT YOU INHERIT. IT'S SOMETHING THAT HAS TO BE PRESERVED AND FOUGHT FOR EACH GENERATION. AND DEFENDED EACH GENERATION, SO, IF WE LOSE THE UNDERSTANDING OF WHAT THE CONSTITUTION MEANS, WE ALSO HAVE LOST OUR CONSTITUTION ITSELF, MR. SPEAKER. AND THIS TASK THAT WE HAVE TO PRESERVE THIS LANGUAGE, ALL LEGISLATIVE POWERS HEREIN GRANTED SHALL BE VESTED IN A CONGRESS OF THE UNITED STATES, SIMPLE, PURE AND BEAUTIFUL. WORTH PRESERVING, PROTECTING, FIGHTING FOR, LEADING FOR AND, IF NEED BE, DYING FOR. THAT'S WHY OUR HONORABLE AND NOBLE MILITARY MEN AND WOMEN TAKE AN OATH TO SUPPORT THIS CONSTITUTION. BECAUSE IT IS WORTH DEFENDING, THEY ARE NOT DEFENDING THE PRESIDENT OF THE UNITED STATES SPECIFICALLY, THEY ARE DEFENDING THIS CONSTITUTION WHEN THEY GO INTO BATTLE AND WE NEED TO DEFEND IT HERE IN THE HOUSE OF REPRESENTATIVES AND WE HAVE A TASK FORCE NOW TO ADDRESS THE EXECUTIVE OVERREACH AND WE'LL BE DEFINING THE UNCONSTITUTIONAL OVERREACH. I'M WILLING TO ACCEPT THE PRESIDENT'S DEFINITION ON THE CONSTITUTIONAL LIMITATIONS. WITH REGARD TO THE IMMIGRATION AND THE PRESIDENT SAID HE DOESN'T HAVE THE AUTHORITY TO ESTABLISH AND PASS AMNESTY LEGISLATION. I AGREE WITH HIM. IT'S AN ENUMERATED POWER HERE IN THIS CONSTITUTION THAT'S PRESERVED FOR THE CONGRESS, TO ESTABLISH AND UNIFORM NATURALIZATION. AND THAT HAS BEEN DEFINED BY THE COURTS TO MEAN THE IMMIGRATION POLICIES OF THE UNITED STATES. SO, IF WE GET THIS RIGHT, WE WILL HAVE CONGRESS THAT IS EMPOWERED MORE, BUT ALSO AN EMPOWERED CONGRESS THAT'S MORE ACCOUNTABLE TO WE THE PEOPLE. AND AS CONGRESS STEPS UP AND SAYS, LET'S CLAW THAT EXECUTIVE OVERREACH POWER BACK INTO THE HOUSE OF REPRESENTATIVES, BACK INTO THE UNITED STATES SENATE, WHAT WE'RE REALLY SAYING, MR. SPEAKER, IS, LET'S CLAW THAT EXECUTIVE OVERREACH POWER AND AUTHORITY BACK HERE AND HAND IT BACK TO WE THE PEOPLE. LET'S GO BACK AND TURN OUR EAR TO THE PEOPLE, WE THE PEOPLE, SO THAT THIS REPUBLICAN FORM OF GOVERNMENT THAT'S GUARANTEED TO US IN THIS CONSTITUTION, THIS REPUBLICAN FORM OF GOVERNMENT CAN GATHER THE BEST IDEAS FROM ALL ACROSS THIS LAND AND BRING THOSE IDEAS HERE TO WASHINGTON, D.C., WHERE THE IDEAS COMPETE WITH EACH OTHER, THE BEST IDEAS FLOAT TO THE TOP LIKE THE CREAM RISES TO THE TOP AND THE PUBLIC CAN LOOK IN, THEY CAN WEIGH IN, AND ADDITIONALLY, MR. SPEAKER, WE NEED MORE OVERSIGHT INTO THE EXECUTIVE BRANCH OF GOVERNMENT. AND I HAVE DRAFTED AND INTRODUCED LEGISLATION THAT ADDRESSES SOME OF THIS IN A WAY THAT I WILL PUT OUT HERE, A WAY TO BE PERHAPS A LITTLE PROVOCATIVE TO START SOME IDEAS AND THEN THE COMPETITION OF IDEAS, THE BEST ONES AS I SAID NEED TO FLOAT TO THE TOP. AND THAT WOULD BE LEGISLATION THAT DOES THIS. IT REQUIRES THAT OF THIS MOUNTAIN AND MYRIAD OF REGULATIONS THAT WE HAVE, THAT GO ON IN PERPETUITYY, THAT CAN'T BE PRACTICALLY REDUCED OR SHRUNK DOWN OR NULLIFIED BY THIS CONGRESS, AS LONG AS THE PRESIDENT'S WILLING TO VETO A NULLIFICATION BILL AND PUSH IT BACK AT US, LEGISLATION THAT I'M PROPOSING, THAT SUNSETS ALL OF THE REGULATIONS OVER A PERIOD OF 10 YEARS, AND SUNSETS ANY NEW REGULATION AT THE END OF 10 YEARS, AND IT REQUIRES CONGRESS TO HAVE AN AFFIRMATIVE VOTE BEFORE ANY REGULATION CAN HAVE A FORCE AND EFFECT OF LAW. WE HAVE PASSED OUT OF THE FLOOR OF THE HOUSE HERE ONCE, PERHAPS MORE THAN THAT, WHAT WE CALL THE REINS ACT. THIS COMES FROM A RETIRED MEMBER OF CONGRESS, A FRIEND, FORMER RANGER, GEOFF DAVIS OF KENTUCKY. WHO INITIATED THE LEGISLATION THAT THERE WOULD BE A REQUIREMENT OF AN AFFIRMATIVE VOTE OF CONGRESS BEFORE A REGULATION THAT HAD MORE THAN $100 MILLION IMPACT ON OUR ECONOMY, COULD TAKE -- ECONOMY COULD TAKE EFFECT, IT ADDRESSES THIS, ADDRESSES THIS GOING FORWARD WITH NEW REGULATION. IT DOESN'T GO BACKWARDS TO OTHER REGULATION. ALL THE OLD REGULATIONS ARE ESSENTIALLY DE FACTO GRANDFATHERED BY THE REINS ACT. LEGISLATION THAT I HAD PUT TOGETHER BEFORE HE INTRODUCED THE REINS ACT WAS MORE DETAILED. AND THIS LEGISLATION IS CALLED THE SUNSET ACT. IT SUNSETS ALL REGULATIONS. BUT IT SUNSETS THEM IN INCREMENTS OF 10% OF THE REGULATIONS FROM EACH DEPARTMENT, EACH YEAR, FOR 10 YEARS. THAT THE DEPARTMENTS HAVE TO OFFER UP THEIR REGULATIONS, THEY CAN SORT WHICH ONES THEY WANT TO EXPOSE TO CONGRESS FOR A VOTE OVER A PERIOD OF 10 YEARS, BUT OVER 10 YEARS, THEY HAVE TO OFFER UP THEIR LEGISLATION HERE TO CONGRESS, CONGRESS EVALUATES -- OFFER UP THEIR REGULATIONS, EXCUSE ME, MR. SPEAKER. CONGRESS THEN EVALUATES THOSE REGULATIONS AND ANY MEMBER OF CONGRESS CAN COME IN AND OFFER AN AMENDMENT TO THAT -- TO THOSE REGULATIONS, MAYBE AN AMENDMENT TO STRIKE, MAYBE AN AMENDMENT TO ADD. MAYBE THERE ARE PEOPLE IN THIS CONGRESS THAT WANT MORE REGULATIONS, NOT LESS, AND THEY WOULD LIKE TO WRITE THEM INTO LAW AND VOTE THEM IN. MR. SPEAKER, THAT IDEA OF SUNSETTING ALL REGULATION, 10% A YEAR FOR 10 YEARS INCREMENTALLY, IS COUPLED WITH THE IDEA OF SUNSETTING ANY NEW REGULATION ALSO AT THE END OF 10 YEARS. AND REQUIRING AFFIRMATIVE VOTE ON ANY REGULATIONSES, BEFORE ALL NEW REGULATIONS OF ANY KIND. DOING SO THEN RESTRAINS THE EXECUTIVE BRANCH OF GOVERNMENT AND MAKES THE LEGISLATIVE BRANCH OF GOVERNMENT RESPONSIBLE TO THE PEOPLE. AND OUR REGULATORS THAT ARE WRITING THESE RULES WILL KNOW THAT IF THEY WRITE A RULE THAT'S EGREGIOUS TO THE PEOPLE, THE PEOPLE THAT HAVE NOT BEEN HEARD FROM THE EXECUTIVE BRANCH OF GOVERNMENT, WHEN THEY GO INTO THE OFFICE AND SAY -- OF SAY THE E.P.A. AND THEY PRESS THEIR CASE TO GINA MCCARTHY, FOR EXAMPLE, AND HER PEOPLE, THEY DON'T HAVE A MOTE TO HAVE LISP. BECAUSE THEY'RE INSULATED FROM THE ACCOUNTABILITY TO THE PEOPLE. IF THEY KNEW THAT THOSE SAME INDIVIDUALS THAT ARE AGGRIEVED BY THE PROPOSED REGULATION CAN COME TO VISIT THEIR MEMBER OF CONGRESS AND PRESS THEIR DEMAND ON THEIR MEMBER OF CONGRESS, THEY HAVE TO KNOW THAT THAT MEMBER OF CONGRESS IS GOING TO COME FORWARD, COME DOWN HERE TO THE FLOOR OF THE HOUSE OF REPRESENTATIVES, AND OFFER AN AMENDMENT TO STRIKE THOSE REGULATIONS OR AMEND THOSE REGULATIONS SO THAT IT IS ACCEPTABLE TO WE THE PEOPLE. THAT'S A VISION TO RESTRAIN AN OVERGROWTH OF THE EXECUTIVE BRANCH OF GOVERNMENT, MR. SPEAKER, AND I ADVOCATE THAT AS ONE OF THE THINGS TO CONSIDER. BUT NEITHER DO I THINK THAT I HAVE ALL THE GOOD IDEAS. THERE ARE 435 MEMBERS OF THE HOUSE OF REPRESENTATIVES. AND 100 MEMBERS OF THE SENATE. THERE ARE GOOD IDEAS THAT COME IN TO EVERY ONE OF OUR OFFICES FROM THE 750 OR SO THOUSAND PEOPLE THAT EACH OF US REPRESENT. AND WITH THE IDEAS THAT COME FROM THE PUBLIC, IF WE SORT THEM IN THE FASHION AND VISION BY OUR FOUNDING FATHERS, IF WE LIMIT THE OVERGROWTH OF THE EXECUTIVE BRANCH OF GOVERNMENT, WE TAKE THE RESPONSIBILITY BACK TO US, IT WILL PRESS ON US, MR. SPEAKER, THE KIND OF CHANGES THAT ARE GOOD FOR THE PEOPLE IN THIS REPUBLIC, THAT ARE GOOD FOR THE RESPONSIBILITIES OF THE MEMBERS OF THE HOUSE, AND OF THE SENATE, AND WE CAN TAKE AMERICA AND WE CAN TAKE AMERICA ONWARDS AND UPWARDS TO THE NEXT LEVEL OF OUR ASCENDING DESTINY. WITH THAT, MR. SPEAKER, I APPRECIATE YOUR INDULGENCE. I APPRECIATE YOUR ATTENTION. AND I WOULD YIELD BACK THE BALANCE OF MY TIME.

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  • 07:09:12 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE CHAIR LAYS BEFORE…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE CHAIR LAYS BEFORE THE HOUSE THE FOLLOWING ENROLLED BILL.

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  • 07:09:23 PM

    THE CLERK

    H.R. 41. AN ACT TO AUTHORIZE APPROPRIATIONS FOR THE COAST GUARD FOR FISCAL…

    H.R. 41. AN ACT TO AUTHORIZE APPROPRIATIONS FOR THE COAST GUARD FOR FISCAL YEARS 2016 AND 2017 AND FOR OTHER PURPOSES.

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  • 07:09:34 PM

    THE SPEAKER PRO TEMPORE

    UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 6, 2015, THE CHAIR…

    UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 6, 2015, THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA, MR. ROHRABACHER. FOR 30 MINUTES.

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  • 07:09:43 PM

    THANK YOU, MR. SPEAKER. TONIGHT I RISE TO CALL MY COLLEAGUES' ATTENTION TO…

    THANK YOU, MR. SPEAKER. TONIGHT I RISE TO CALL MY COLLEAGUES' ATTENTION TO THE INTENTION OF THE PUBLIC -- AND THE ATTENTION OF THE PUBLIC TO MY LEGISLATION THAT I HAVE PROPOSED, THE BILL NUMBER IS H.R. 4017. THIS ACT IS THE STOP THE CHRISTIAN GENOCIDE ACT, AND I WOULD ASK MY COLLEAGUES TO CONSIDER CO-SPONSORING THIS LEGISLATION, A NUMBER HAVE ALREADY DONE SO. I'D ASK THE PUBLIC TO MAKE SURE THAT THEY KNOW THAT THEIR CONGRESS PERSON KNOWS EXACTLY WHAT'S GOING ON WITH H.R. 4017. AND THAT THEY WOULD HOPE THAT THEIR MEMBER OF CONGRESS WOULD ALSO BE A CO-SPONSOR OF THE BILL. AND BY CALLING YOUR CONGRESSMAN'S OFFICE, I'M SURE THE CONGRESS -- MEMBERS OF CONGRESS WILL BE VERY HAPPY TO HEAR YOUR OPINION. MANY MEMBERS OF THIS BODY NEED TO KNOW THAT THEIR CONSTITUENTS SUPPORT THE STOP THE CHRISTIAN GENOCIDE ACT, H.R. 4017. WHAT THIS LEGISLATION DOES WAS SET A PRIORITY FOR IMMIGRATION AND REFUGEE STATUS, FOR THOSE CHRISTIANS WHO ARE NOW UNDER ATTACK, TARGETED FOR GENOCIDE, SYRIA, IRAN, IRAQ, LIBYA AND PAKISTAN. YES, GENOCIDE IS TAKING PLACE. MASS MURDER IS HAPPENING. CHRISTIANS HAVE BEEN TARGETED FOR SLAUGHTER AND ELIMINATION BY RADICAL ISLAMIC TERRORISTS IN THE MIDDLE EAST. WE HAVE TO ACKNOWLEDGE THAT OR MILLIONS, YES, NOT JUST HUNDREDS OF THOUSANDS, BUT MILLIONS OF CHRISTIAN BRETHREN WILL DIE. YES, ANOTHER GROUP, THE YAZIDISES HAVE ALSO BEEN SIMILARLY TARGETED. MY BILL COVERS THESE PEOPLE AS WELL. ALTHOUGH THEY ARE NOT CHRISTIANS. THIS IS THE GREATEST THREAT TO OUR COUNTRY TODAY, RADICAL ISLAMIC TERRORISM. SO, IT SHOULD NOT BE A DIFFICULT DECISION ON THE PART OF OUR PRESIDENT, OR THE PEOPLE OR THE PUBLIC OR THIS BODY, TO DECIDE THAT WE ARE GOING TO DO WHAT WE CAN TO SAVE CHRISTIANS WHO HAVE BEEN TARGETED FOR SLAUGHTER BY THOSE VERY SAME FORCES WHO ARE NOW THE GREATEST THREAT TO OUR OWN SECURITY. HOWEVER, WHAT WE HAVE IS NOT JUST A FOOT DRAGGING, BUT A NEGATIVE RESPONSE FROM THIS ADMINISTRATION. OUR PRESIDENT HAS BEEN UNABLE TO DEFEAT OUR EVEN TO TURN BACK THE ONSLAUGHT OF RADICAL ISLAMIC TERRORISM. YES, I HAVE TOED A MID, THIS PRESIDENT -- I HAVE TO ADMIT THIS PRESIDENT WAS DEALT A PRETTY BAD HAND. THINGS WERE NOT GOOD WHEN HE TOOK OVER IN THE MIDDLE EAST. I THINK THE MISTAKE THE UNITED STATES MADE IS CLEAR, THAT WHEN WE SENT OUR TROOPS INTO IRAQ, THAT WE DID INDEED BREAK A STABILITY THAT HAS CAUSED US PROBLEMS AND WAS IN A BAD SITUATION AT THAT TIME WHEN OUR PRESIDENT BECAME PRESIDENT. WELL, THIS PRESIDENT HAS TURNED A BAD SITUATION INTO A CATASTROPHE. WE HAVE ALMOST LOST, AND WITH OUR PRESIDENT'S POLICIES WE WOULD HAVE LOST, EGYPT TO RADICAL ISLAMIC TERRORISM. OUR PRESIDENT SUPPORTED THE MUSLIM BROTHERHOOD LEADER OF EGYPT, MAN NAMED PRESIDENT MORSI, WHO WAS AT THAT TIME PRESIDENT OF EGYPT DURING THE EARLY YEARS OF THIS ADMINISTRATION. PRESIDENT OBAMA WENT ALL THE WAY TO EGYPT IN ORDER TO GIVE A SPEECH STANDING BESIDE MORSI TO THE MUSLIM PEOPLE OF THAT REGION. WHAT IT WAS WAS BASICALLY AN ACCEPTANCE OF THE MUSLIM BROTHERHOOD, WHICH PEOPLE NOW KNOW IS THE PHILOSOPHICAL GODFATHER TO ALL OF THE RADICAL ISLAMIC TERRORIST MOVEMENTS THAT NOW SLAUGHTER CHRISTIANS AND THREATEN THE PEACE AND STABILITY OF THE WORLD. OUR PRESIDENT ENCOURAGED THEM IN THE BEGINNING. FEELING IF WE DID, AGAIN, TREAT SOMEONE NICELY, AND THEY WILL RESPECT YOU. AND WHAT HAPPENED? MODERATE REGIMES, AND, YES, REGIMES IN THE MIDDLE EAST, THAT WERE NOT DEMOCRATIC, WERE LESS THAN FREE, HAVE BEEN REPLACED WITH RADICAL ISLAMISTS WHO MEAN TO DESTROY THE MIDDLE EAST AND TURN IT INTO A CALIPHATE, RADICAL ISLAMIC TERRORISTS WHO CONDUCT TERRORIST RAIDS INTO WESTERN COUNTRIES, RADICAL ISLAMIC TERRORISTS WHO MURDER PEOPLE IN TURKEY, IN RUSSIA, IN SAN BERNARDINO. YES, THIS IS WHAT'S HAPPENED SINCE THIS PRESIDENT TOOK OVER AND REACHED OUT WITH A HAND OF FRIENDSHIP AND UNDERSTANDING. TO THOSE WHO WOULD BECOME THE RADICAL ISLAMIC TERRORISTS OF THAT REGION. AND I MIGHT SAY, THE THREAT TO THE ENTIRE WORLD, INCLUDING THE PEOPLE OF EVERY CITY IN THE UNITED STATES. HAD EGYPT BEEN LEFT THE WAY THAT THE PRESIDENT WANTED IT TO BE LEFT -- WANTED IT TO BE, HAD WE INSTEAD NOT SUPPORTED THE EFFORT BY THE EGYPTIAN PEOPLE TO RID THEMSELVES OF MORSI AND HIS GOVERNMENT, AT THE TIME WHEN MORSI WAS TRYING TO DESTROY THEIR SUPREME COURT AND THEIR COURT SYSTEM, AT A TIME WHEN MORSI WAS TRYING TO ESTABLISH A CALIPHATE THAT IS TOTALLY REJECTED BY THE EGYPTIAN PEOPLE, HAD WE -- LET'S PUT IT THIS WAY, HAD OUR PRESIDENT BEEN ABLE TO SUPPORT GENERAL ACISSY, PERHAPS THAT COULD HAVE -- GENESISY, PERHAPS THAT REVOLUTION COULD HAVE HAPPENED PEACEFULLY. INSTEAD MORSI WAS REMOVED WHEN HE TRIED TO BETRAY THE EGYPTIAN PEOPLE. TODAY, GENERAL EL-SISI NOW HAS BEEN EELECTED BY A LANDSLIDE IN EGYPT AND GENERAL EL-SISI, NOW PRESIDENT EL-SISI, HAS DONE EVERYTHING HE CAN TO TRY TO FIND A WAY TO RECONCILE BETWEEN ISLAM AND THE OTHER FAITHS, NOT ONLY OF THE REGION BUT THE WORLD, PRESIDENT EL-SISI IS THE ONLY LEADER, THE ONLY PRESIDENT OF EGYPT EVER TO GO TO A COPTIC CHRISTIAN CHURCH AND HELP THEM CELEBRATE CHRISTMAS. . HE ALSO WENT TO THE MUSLIM CLERICS AND PERSONALLY PLEADED WITH THE LEADERSHIP OF THE MUSLIM FAITH IN EGYPT AND IN PLEADED FOR THE REJECTION OF ISLAM AND PLEADED FOR THE REJECTION OF THOSE PEOPLE WHO WOULD COMMIT ACTS OF VIOLENCE AND TRY TO REPRESS. HE PUSHED IT -- AND THE PRESIDENT PLEADED FOR THE MUSLIM CLERICS TO COME OUT STRONGLY. RESPECTING OF FREEDOM OF RELIGION. OUR PRESIDENT HAS RESENTED HIM BECAUSE HE OVERTHROUGH MUSLIM BROTHERHOOD WHO IS TRYING TO TRYING TO ATTACK THE ENTIRE WESTERN WORLD. AND WHAT DID THE GENERAL GET FOR BEING THIS COURAGEOUS PERSON AND WHAT DID HE GET FROM US BECAUSE HE SAVED EGYPT AND NOT ONLY EGYPT AND THEY ARE A RADICAL TERRORIST STATE, THE ENTIRE MIDDLE EAST WOULD HAVE FALLEN. AND THE GERM STEPPED UP AND WHAT DID HE GET? HE GOT A FEELING THAT OUR PRESIDENT DEPOSIT LIKE HIM. AND HE GOT REJECTION ON THOSE REQUESTS THAT HE MADE FROM SUPPORT OF THE UNITED STATES, LEGITIMATE REQUESTS OF HOW TO HAVE WEAPONS SYSTEMS TO DEFEAT THE TERRORISTS THAT ARE KILLING OUR OWN PEOPLE AND AT THAT TIME, THEY WERE CONDUCTING MASS MURDERS OF CHRIS TANS -- CHRISTIANS. BURNING PEOPLE TO DEATH AND SAWING THEIR HEADS OFF AND DOING THIS IN A VERY PUBLIC WAY, CAPTURING YOUNG WOMEN BECAUSE THEY ARE CHRISTIANS. YES, WE NEEDED TO CONFRONT THAT AT THAT TIME. BUT THE GENERAL NEEDED HELP. WHAT DID HE GET? I WENT TO EGYPT AND THE GENERAL PLEADED. WE HAVE F-16'S THAT WE NEED. WE NEED SPARE PARTS FOR OUR TANKS AND HE PLEADED WITH US. WE NEED THESE THINGS. WE CAN'T POLICE THE DESERT AREAS OF BOTH SIDES OF EGYPT WHERE THE RADICALS ARE GOING TO ESTABLISH SOME KIND OF AN UPRISING AND SOME KIND OF A CONFLICT SO WE NEED HELICOPTERS AND SPARE PARTS AND NEED THE F-16'S. I CAME BACK AND PUT TOGETHER WITH A LONG -- SEVERAL WITH MY OTHER COLLEAGUES THE EGYPTIAN CAUCUS. WE ARE TRYING TO DO OUR BEST TO SEE THAT THE RADICAL ISLAMIST DO NOT TAKE OVER AND REACHING OUT AND TRYING TO CREATE A GOODWILL. AND SHOULD BE WORKING TOGETHER AND REJECTING THE RADICAL TERRORISTS THAT THREATEN THE WHOLE WORLD AND THE REGION. WE ARE TRYING TO HELP HIM. I CAME BACK A YEAR LATER AND I SAID DID YOU GET YOUR F-16'S YET ? NO. DID YOU GET THE SPARE PARTS? NO. WE GOT THE APACHE HELICOPTERS BUT TO SEND IT INTO A COMBAT ZONE, WE CAN'T USE THEM. IT IS NOT SOMETHING THAT HAPPENED BY BUREAUCRATIC HAPPENEN STANCE. THIS WAS THE POLL I SI OF THE OBAMA ADMINISTRATION. I HAVE WORKED IN THE WHITE HOUSE AND SEEN HOW THESE GAMES ARE PLAYED. THEY HAVE PLAYED GAMES MAKING SURE THE HELICOPTERS DIDN'T HAVE THE EQUIPMENT. FINALLY AFTER TWO YEARS I WENT BACK A YEAR LATER AND THEY HAVE ARRIVED AFTER WE HAVE RAISED HELL IN THIS BODY AND THE AMERICAN PEOPLE HAVE HAD THEIR SAY LIKE THE GENERAL LIKE ABDULLAH IN JORDAN AND PEOPLE WHO ARE MODERATE IN THEIR RELIGIOUS -- THEY ARE MODERATE PEOPLE AND GIVING PEOPLE THE RESPECT. THESE ARE THE TYPES OF LEADERS. AND I MIGHT ADD THAT THE GENERAL HAS WORKED WITH ISRAEL AND HE HAS GONE OUT OF HIS WAY TO MAKE SURE THERE ISN'T WAR BETWEEN ISRAEL AND EGYPT. WHAT COULD BE BETTER THAN A MAN ASKING FOR TOLERANCE AND HE REACHES OUT FOR A COUNTRY AND TRYING TO SAY WE WILL NEVER BE AT WAR AGAIN. AND THAT'S WHAT HE IS DOING AND THAT'S WHAT OUR PRESIDENT IS TRYING TO UNDERMINE. OUR PRESIDENT HAS BEEN UNABLE TO USE THE WORDS ISLAMIC RADICAL TERRORISM. WHEN THEY STARTED TALKING ABOUT, THESE WEREN'T TERRORISTS THAT MURDERED OUR AMBASSADOR BUT CAUSED BY A MOVIE AND ENRAGED THE PEOPLE IN A DEMONSTRATION, GOT OUT OF HAND AND THEY MURDERED OUR AMBASSADOR. I REMEMBER HEARING IT FOUR, FIVE TIRMSE. AND THE FIRST TIME I HEARD IT, I SAID THAT'S A LIE. THAT'S WHAT STRUCK THEM. OUR GOVERNMENT WAS LYING TO US IN ORDER TO PROTECT WHAT? AND I MIGHT ADD OUR SECRETARY OF STATE CLINTON WHEN SHE WAS CONFRONTED WITH THAT LIE, IT WAS CLEARLY A LIE, SHE SAID WHAT DIFFERENCE DOES IT MAKE WHETHER IT WAS A RADICAL TERRORIST GROUP. WHAT DIFFERENCE DOES IT MAKE. I'LL TELL YOU WHAT DIFFERENCE IT MAKES. YOU ARE SENDING A MESSAGE THAT THEY HAVE GOTTEN AWAY WITH IT. WITH WE ARE NOT GOING TO CHALLENGE THEM AP NOT GOING AFTER THE TERRORIST MURDERERS OR MAKING THEM ACCOUNTABLE AND BLAME IT ON SOMEBODY ELSE SO THE AMERICAN PEOPLE INSIST THAT WE DO SOMETHING AGAINST IT. THIS IS THE SAME ADMINISTRATION AS I SAY THAT CAN'T HELP THE GERM WHO HAS SAVED FROM THE HORROR STORY AND NOW WE CAN'T TELL THE AMERICAN PEOPLE THAT THEIR AMERICAN AMERICA BASS DOR HAS BEEN MURDERED. AND THEY HAVE NOT BEEN UTTERED. I WOULD CHALLENGE THE PRESIDENT NOT TO INCLUDE THE LIST AND SAY ONE SEPTEMBERENS SPECIFICALLY ABOUT I REJECT RADICAL ISLAMIC TERRORISM. WE HAVEN'T HEARD THAT FROM HIM. GIVE ME THE QUOTE. AND I THINK HE DID THE PHRASE CHRIS TRAN TERRORISM. BLAH. BLAH. THAT'S NOT IT. LET'S HAVE THE CONDEMNATION. WE HAVEN'T BEEN ABLE TO DO THAT. AND THAT PRESIDENT WHEN THE SITUATION IS SPIRALING OUT OF CONTROL BECAUSE THESE TERRORISTS ARE FLOODING THE MIDDLE EAST WHETHER IT IS SYRIA AND IRAQ. THIS AREA IS SO UNSTABLE AND DON'T DO ANYTHING TO SAVE THE PEOPLE WHO ARE UNDER ATTACK, THOSE PEOPLE WHO ARE THERE LIKE THE KURDS AND THE LIKE THE GENERAL AND ABDULLAH OF JORDAN, WE HAVE TO MAKE THEM. THAT IS THE FIRST THING. WE HAVE TO DO WHAT IS MORALLY RIGHT. WE ARE TALKING ABOUT A GENOCIDE THAT IS -- THAT IS EXISTING. WE KNOW THAT THE CHRISTIAN COMMUNITIES HAVE BEEN TARGETED FOR EXTINCTION BY ISLAMIC RAD CALL TERRORISTS. NUMBER TWO, OUR GOVERNMENT NEEDS TO MAKE SURE THAT THOSE PEOPLE WHO ARE TARGET D FOR HE GENOCIDE CAN FIND SAFE HAVEN INSTEAD OF BRINGING HEALTHY YOUNG MEN AND COMING INTO THE UNITED STATES AND FLOODING INTO EUROPE AND THOSE CHRISTIANS WHO ARE BEING TARGETED. I WENT TO MUNICH. AND WE HAVE SEEN THIS. PAID INDIVIDUAL CRO, YOUNG MEN BY THE HUNDREDS OF THOUSANDS POURING INTO WESTERN EUROPE. WE DON'T KNOW HOW MANY ARE TERRORISTS. IF THOSE YOUNG MEN DON'T LIKE RADICAL ISLAM, THEY SHOULD BE BACK IN THEIR HOME COULDN'T TROY FIGHTING IT. WELL, THE SAME IS TRUE. WE SHOULDN'T BE PERMITTING AND OUR PRESIDENT HAS BEEN AS I WOULD SAY NOT DOING THE JOB WE WOULD PROTECTING OUR INTERESTS RNING. ABOUT THEY ARE ISLAMIC TERRORISTS OR COMING OUT FROM THE MIDDLE EAST AND OF COURSE, WE HAVE HUNDREDS OF THOUSANDS AND MILL YOBS OF PEOPLE THAT HAVE COME HERE ILLEGALLY AND SWARMED ACROSS THE BOARD AND THIS PRESIDENT TALKS ABOUT GIVING CHILDREN WHO HAVE COME HERE ILLEGALLY, THE DREAM ACT, WHAT THIS ENCOURAGES MILLIONS MUCH PEOPLE TO COME HERE. WHEN THERE IS A FLOOD WE DON'T KNOW IF THERE ARE HUNDREDS OF PEOPLES ARE TERRORISTS. DO YOU REALLY BELIEVE THAT OUR ENEMIES THAT SLAUGHTER INNOCENT PEOPLE AND PEOPLE RAPING THOUSANDS OF YOUNG GIRLS, YOU THINK THEY WOULD CARE OF LYING AND COME HERE AND THEY HAVE TO CROSS THE BORDER. BUT THEY ARE HERE AND AS THE PRESIDENT OF THE UNITED STATES IS ATLANTA FAULT. WE SHOULD HAVE A SYSTEM OF COMING INTO OUR COUNTRY THAT HANDLED REFUGEES AND PEOPLE WITH LEGITIMATE STATUS, AND THEY SHOULD HAVE VENTED. AND I WAS TOLD ABOUT THE VETTED PROCESS. THEY HAVE NOT BEEN ABLE TO VERIFY THE THINGS THAT THE PEOPLE CLAIM THAT THINGS. AND I WOULD SUGGEST THAT THERE IS LEGISLATION THAT INSISTS ON A LIE DETECTOR TEST THAT COMES HERE FROM THAT REGION. WE SHOULD ASK FIVE QUESTIONS. HAVE YOU ADVOCATED A VIOLENCE AGAINST RELIGION. THAT'S ALL WE HAVE TO DO. AND I HAVE TAKEN AN EXTRA FIVE MINUTES. MILL YOBS OF PEOPLE HERE AND WE DON'T KNOW WHERE 10,000 OF THEM HAVE ANIMOSITY TO TRY TO SHOOT PEOPLE LIKE THEY HAVE DONE IN SAN BERNANDINO. INNOCENT PEOPLE WERE SLAUGHTERED. THESE PEOPLE WERE SLAUGHTERED AND THEY WERE -- KEPT SHOOTING INTO THEM. LOAD THEIR GUNS. THAT'S EVIL AND THIS PRESIDENT CAN'T USE THE WORDS ISLAMIC RA CALL TERRORISTS. AT THE VERY LEAST WE CAN TRY TO SAVE THOSE CHRISTIANS AND THIA ZIDYISS WHO HAVE BEEN TARGETED FOR GENOCIDE. YOU HAVE A CERTAIN NUMBER OF REFUGEE STATUS, A CERTAIN NUMBER OF IMMIGRATION STATUS COMING FROM THESE COUNTRIES, THESE FIVE COUNTRIES THAT I MENTIONED IN THE MIDDLE EAST. THESE ARE THE AREAS, THESEY THE AREAS WHERE THE CHRISTIANS -- THESE ARE THE AREAS WHERE THE CHRISTIANS ARE MOST UNDER ATTACK. WHAT MY BILL JUST SIMPLY SAYS, CHRISTIANS ARE GOING TO GET PRIORITY AND THESIA ZIDIES WHO HAVE -- YAZIDIS WHO HAVE BEEN TARGETED FOR GENOCIDE. THEY DESERVE PRIORITY LONG BEFORE THESE HEALTHY YOUNG MUSLIM MEN WHO WANT TO COME HERE. AND THEN WE'LL LET THEM IN, WE WILL OF COURSE VET THEM, MAKE SURE WE KNOW WHO THEY ARE. AND THEY WILL GET THE PRIORITY. NOW THE PRESIDENT MADE A STATEMENT, WE DON'T BELIEVE IN THAT. THAT'S DISCRIMINATING BECAUSE OF RACE. OR RELIGION. IT'S A RELIGIOUS TEST. AND WE DON'T DO RELIGIOUS TESTS IN AMERICA. ARE YOU KIDDING? WE CANNOT PRIORITIZE WHAT WE DO TO MAKE SURE THAT WHAT WE'RE DOING IS HELPING THE PERSON WHO'S MOST IN DANGER? IS A LIFEGUARD IN SOME WAY SHOWING DISRESPECT AND NOT HELPING THOSE OTHER PEOPLE IN THE WATER BY GOING OUT AND SAVING SOMEONE WHO IS DROWNING? THIS IS THIS ISN'T DISCRIMINATION. THIS IS PRIORITIZATION. THE PEOPLE WHO ARE UNDER ATTACK, WHO WILL BE SLAUGHTERED, AND THIS INTELLECTUALISM WILL RESULT IN WHAT? IF WE ACCEPT THE PRESIDENT AND THIS ADMINISTRATION'S THING, OH, YOU CAN'T PRIORITIZE FOR CHRISTIANS. BY THE WAY, HE DOESN'T SEEM TO HAVE ANY TROUBLE PRIORITIZING FOR ANYBODY ELSE. BUT THIS IS VERY CLEAR THAT HE WON'T LET US PRIORITIZE FOR CHRISTIANS WHO ARE TARGETED FOR GENOCIDE. , NO I REJECT THAT TOTALLY. IT IS NOT RACISM. WE HAD ANOTHER INCIDENT LIKE THIS IN OUR HISTORY. IN 1939 THERE WAS AT LEAST ONE BOAT LOAD, OR A NUMBER OF BOAT LOADS OF JEWS MADE IT TO THE UNITED STATES. THEY PRAYED AND PLEADED WITH US TO LET THEM IN. NAZI GERMANY WAS AT THAT MOMENT IN THE PROCESS OF PICKING UP THE JEWS AND PUTTING THEM IN CONCENTRATION CAMPS. THESE PEOPLE GOT AWAY WITH THEIR FAMILIES AND THEY CAME HERE AND WHAT DID WE DO? WE TURNED THEM BACK. WE TURNED THEM BACK FOR THE SAME REASON -- OH, IF WE LET YOU IN, IT'S A SPECIAL FAVOR TO YOU. THESE PEOPLE WERE TARGETED FOR GENOCIDE AND WE LET THEM GO BACK AND MANY OF THEM DIED. IN THESE NAZI CONCENTRATION CAMPS. LET'S NOT DO THAT AGAIN. I WOULD ASK MY COLLEAGUES TO JOIN ME CO-SPONSORING MY BILL, H.R. 4017, THE SAVE THE CHRISTIANS FROM GENOCIDE ACT. JOIN ME AND WE WILL SEND A MESSAGE, WE WILL SEND A MESSAGE TO THE WORLD THAT, YES, WE HAVE -- WE ARE STILL THE SAME GOODHEARTED PEOPLE THAT WE'VE ALWAYS CLAIMED TO BE. BUT HAVE NOT ALWAYS MET THAT STANDARD. TODAY WE DESERVE, WE DESERVE TO STAND UP AND BE THE CHAMPION OF THE TYPE OF VALUES THAT I'M TALKING ABOUT. THAT'S WHAT OUR FOUNDING FATHERS HAD IN MIND. AMERICA WAS THE REFUGE OF THE WORLD. AMERICA WAS THE SHINING CITY ON THE HILL. THAT INSPIRED THE WHOLE WORLD. BUT WE WEREN'T COWARDS. WE WEREN'T SOMEONE WHO UNDERMINED SOME PERSON IN HIS COUNTRY WHO WAS FIGHTING AN EVIL FORCE LIKE GENERAL EL-SISI. NO, OUR FOUNDING FATHERS MADE SURE THAT THOSE PEOPLE WHO WERE STRUGGLING FOR A BETTER WORLD HAD OUR SUPPORT. BUT BY THE WAY, LET ME JUST NOTE. I WORKED ON SPEECHES FOR RONALD REAGAN. I WAS REAGAN'S SPEECH WRITER FOR SEVEN YEARS IN THE WHITE HOUSE. I WAS ACTUALLY RESEARCHING ONE OF HIS SPEECHES AND I CAME ACROSS THE FACT THAT A MAN NAMED -- A MAN FROM HUNGARY CAME TO THE UNITED STATES AND WAS PLEADING FOR HELP FOR THE HUNGARIAN PEOPLE WHO WERE THEN IN AN UPRISING AGAINST THE US A TRAL HUNGARIAN EMPIRE AND WERE FIGHTING FOR THEIR FREEDOM. HE WAS THERE IN THE MIDWEST GIVING SPEECHES AND TRYING TO GET THE AMERICAN PEOPLE TO SUPPORT HIM. AND I READ A COUPLE OF HIS SPEECHES. AND THEN I NOTED THAT, IN SPRINGFIELD, ILLINOIS, WHEN HE GAVE A SPEECH, THE TOWN RIGHT AFTER HIS SPEECH, THEY ALL LIKED HIM AND HE WAS A FREEDOM FIGHTER, AND -- BUT THEY PASSED A RESOLUTION AT THAT CITY HALL OR AT THEIR MEETING AND IT SAID , THE UNITED STATES IS A NONINTERVENTIONIST POWER AND WE SHOULD NOT GET INVOLVED OVERSEAS. SOMETHING LIKE THAT. AND HE WAS STILL IN TOWN AND HE READ THE NEWSPAPER ACCOUNT OF IT AND WHEN THE WORD GOT OUT THAT HE WAS SO IN DESPAIR THAT THE PEOPLE OF THE UNITED STATES WOULD SAY SUCH A THING AND SIDE WITH THE OPPRESSOR THROUGH THEIR INACTION, THAT WHEN PEOPLE HEARD ABOUT THIS, THEY CALLED A SECOND MEETING. AND THE SECOND MEETING, THEY PASSED A RESOLUTION SAYING, WHILE WE DON'T WANT TO SEND OUR MILITARY FORCES ALL OVER THE WORLD, WHICH IS STILL A GOOD IDEA, NOT TO HAVE TO -- WE WILL SUPPORT THOSE PEOPLE WHO ARE STRUGGLING FOR FREEDOM THROUGHOUT THE WORLD. WE WILL OPEN UP OUR ARSENALS. WE WILL GIVE THEM WHAT THEY NEED. TO DEFEAT THE FORCES OF TYRANNY THAT OPPRESS THEM. AND THAT SECOND RESOLUTION THEN WAS PASSED AND WAS SIGNED BY THE PEOPLE OF SPRINGFIELD, ILLINOIS, AND THE LAST PHASES, I MIGHT ADD, ONE OF THE PEOPLE SIGNED, WHO SIGNED THAT DOCUMENT, WAS ONE A. LINCOLN. AND I WILL TELL YOU THIS ABOUT THAT SPEECH. WITH THE HUNGARIAN. THAT SPEECH ED END -- ENDED WITH, AND WE DO THIS, WE MAKE THIS COMMITMENT, SO THAT GOVERNMENT OF THE PEOPLE, BY THE PEOPLE AND FOR THE PEOPLE SHALL NOT PERISH FROM THIS EARTH. THAT'S WHERE LINCOLN, HE WAS THERE IN THAT ROOM, WHEN THAT SPEECH WAS GIVEN. AND HE LATER UNITED THE PEOPLE OF THE UNITED STATES WITH THAT THOUGHT FROM THAT MAN FROM THAT FREEDOM FIGHTER OVERSEAS. THERE ARE PEOPLE WHO ARE STRUGGLING FOR THEIR FREEDOM. THERE ARE PEOPLE WHO ARE STRUGGLING FOR THEIR EXISTENCE. WE DO NOT HAVE TO SEND AMERICAN MILITARY BOYS TO FIGHT THE FIGHT THAT THEY SHOULD BE FIGHTING FOR THEMSELVES. BUT AT THE VERY LEAST WE MUST GIVE THEM THE SUPPORT THEY NEED TO DEFEAT THE EVIL FORCES IN THE WORLD THAT WOULD SLAUGHTER THEM, SLAUGHTER THEIR FAMILIES, AND COME AFTER US NEXT. THAT'S WHAT THE WAR WITH RADICAL ISLAM TERRORISM IS ALL ABOUT. THEY ARE AT WAR WITH US AND THEY MEAN TO KILL OUR FAMILIES AND THEY MEAN TO PUSH US OUT, WESTERN CIVILIZATION OUT OF THE HISTORY BOOKS OF THE WORLD IN THE FUTURE. THEY WANT IT TO BE AN ISLAMIC, RADICAL ISLAMIC WORLD AND THEY WILL KILL ALL OF US TO GET IT. THAT IS NOT ALL THE MUSLIMS. I AGREE WITH OUR PRESIDENT, WE SHOULD NOT BE AIMING AND TRY TO SAY ALL MUSLIMS ARE THIS WAY. AFTER ALL, GENERAL EL-SISI IS A MUSLIM. ABDULLAH OF JORDAN IS A MUSLIM. THE PEOPLE THAT WE NEED ON OUR SIDE TO DEFEAT RADICAL ISLAM ARE THE MODERATE MUSLIMS OF THE WORLD. WHO I THINK AT LEAST 80% OF THE MUSLIMS OF THE WORLD ARE MODERATE AND WOULD WANT TO BE OUR FRIENDS. WE NEED NOW TO RECOGNIZE THAT THAT SEGMENT OF ISLAM IS NOW A THREAT TO OUR SAFETY, OUR WELL-BEING. THIS IS AN HISTORIC MOMENT. WE CAN EITHER MEET THIS CHALLENGE OR WE WILL LOSE. BUT THE MOST IMPORTANT THING, NO MATTER WHAT WE DO IF OUR PRESIDENT DOESN'T WANT TO SEND TROOPS THERE OR WHATEVER, FINE, BUT AT LEAST LET US ENSURE THAT THE HISTORY WILL RECORD THAT WE SAVED THOSE CHRISTIANS WHO WERE TARGETED FOR THE GENOCIDE OF THIS EVIL FORCE THAT WAS EXPANDING IN THAT PART OF THE WORLD. SHAME ON US IF WE DO NOT. I ASK MY COLLEAGUES TO JOIN ME IN SUPPORT OF H.R. 4017. I ASK THE PEOPLE OF THE UNITED STATES TO LET THEIR CONGRESSMAN KNOW THAT THEY EXPECT THEM TO SUPPORT HONORABLE AND NOBLE AND MORAL STANDS LIKE THIS. IT IS NOT DISCRIMINATION. IT IS PRIORITIZING TOWARD THOSE PEOPLE WHO HAVE BEEN TARGETED FOR GENOCIDE. NOTHING I COULD SAY -- NOTHING COULD BE BETTER FOR OUR SOUL THAN TO HELP THOSE WHO HAVE BEEN TARGETED. AND I ASK THAT MY COLLEAGUES, TO JOIN ME IN SUPPORTING THIS LEGISLATION. AND I YIELD BACK THE BALANCE OF MY TIME.

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  • 07:39:32 PM

    THE SPEAKER PRO TEMPORE

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE GENTLEMAN FROM…

    THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. THE GENTLEMAN FROM CALIFORNIA HAVE A MOTION?

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  • 07:39:39 PM

    MR. ROHRABACHER

    I MOVE THAT THE CONGRESS HEREBY -- WHAT? RETIRE? ADJOURN.

  • 07:39:48 PM

    THE SPEAKER PRO TEMPORE

    ADJOURN.

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115th Congress - House
Total Hours: 1482 (After 656 days)
  • Debate689 Hours
  • Special Orders287 Hours
  • Votes231 Hours
  • One Minute Speeches120 Hours
  • Morning Hour107 Hours
  • Opening Procedures8 Hours

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