House Session - February 14, 2018

The House met for Morning Hour, with members permitted to speak on any topic.

Speakers:
Time
Action
  • 10:00:26 AM

    MORNING-HOUR DEBATE

    The House proceeded with Morning-Hour Debate. At the conclusion of Morning-Hour, the House will recess until 12:00 p.m. for the start of legislative business.

    • 10:00:30 AM

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    • 10:00:32 AM

      HOST

    • 10:00:35 AM

      MPORE PURSUANT

      PURSUANT TO THE ORDER OF THE HOUSE OF JANUARY 8, 2018, THE CHAIR WILL NOW…

      PURSUANT TO THE ORDER OF THE HOUSE OF JANUARY 8, 2018, 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. ALL TIME SHALL BE EQUALLY ALLOCATED BETWEEN THE PARTIES AND IN NO EVENT SHALL DEBATE CONTINUE BEYOND 11:50 A.M. EACH MEMBER OTHER THAN THE MAJORITY AND MINORITY LEADERS AND MINORITY WHIP SHALL BE LIMITED TO FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM NORTH CAROLINA, MS. FOXX, FOR FIVE MINUTES.

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    • 10:01:05 AM

      MS. FOXX

      THANK YOU, MR. SPEAKER. MR. SPEAKER, NEW BOY SCOUTS MAKE A PROMISE TO DO…

      THANK YOU, MR. SPEAKER. MR. SPEAKER, NEW BOY SCOUTS MAKE A PROMISE TO DO THEIR BEST, TO DO THEIR DUTY TO GOD AND COUNTRY AND TO HELP OTHER PEOPLE AT ALL TIMES. MR. LEWIS WOOD OF STOKES COUNTY, NORTH CAROLINA, HAS NOT ONLY FULFILLED THAT PROMISE, HE HAS LIVED IT TO THE FULLEST. MR. WOOD JOINED THE BOY SCOUTS OF AMERICA IN JANUARY, 1943. LATER HE SERVED AS A VOLUNTEER AND SCOUTMASTER FOR TROOP 440 FOR 50 YEARS. WHEN MR. WOOD AND HIS FAMILY WERE RECENTLY INFORMED OF HIS PANCREATIC CANCER DIAGNOSIS, HE WAS FOCUSED ON LIVING UNTIL THIS JANUARY, THE 75TH ANNIVERSARY OF HIS BECOMING A SCOUT. WHAT AN ADMIRABLE SPIRIT AND WONDERFUL MAN. AFTER A LIFETIME OF SERVICE, MR. WOOD IS NOW PREPARING FOR HIS NEXT JOURNEY, MR. SPEAKER. I COMMEND MR. WOOD FOR HIS 75 YEARS OF DEDICATION TO THE BOY SCOUTS AND STOKES COUNTY. AND I YIELD BACK.

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    • 10:02:23 AM

      THE SPEAKER PRO TEMPORE

      THE GENTLEWOMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM NEW YORK,…

      THE GENTLEWOMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM NEW YORK, MR. ESPAILLAT, FOR FIVE MINUTES.

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    • 10:02:32 AM

      MR. ESPAILLAT

      THANK YOU, MR. SPEAKER. I RISE TODAY TO EXPRESS MY CONCERNS AND MY DEEP…

      THANK YOU, MR. SPEAKER. I RISE TODAY TO EXPRESS MY CONCERNS AND MY DEEP SHAME FOR MANY IN THIS CHAMBER WHO CONTINUE TO GAMBLE WITH THE LIVES OF OVER 800,000 DREAMERS. YOUNG PEOPLE THAT ARE WORKERS, STUDENTS, THEY ARE TEACHERS, MEMBERS OF OUR ARMED FORCES. THEY ARE DADS, MOMS. AND AFTER FIVE CONTINUING RESOLUTIONS, WE STILL HAVE LEFT THEM OUT IN THE COLD. OVER 800,000 OF THEM. THIS WEEK THE SENATE IS ONCE AGAIN SANDBAGGING THE DREAMERS WHILE SENATOR MCCONNELL HAS PUBLICLY MADE THIS AN OPEN DEBATE, IT IS FAR FROM BEING A FAIR PROCESS. JUST AS YESTERDAY A FEDERAL JUDGE IN THE EASTERN DISTRICT OF NEW YORK RULED CONCLUSIVELY THAT ELIMINATING DACA AND THE BENEFITS EXTENDED TO DACA RECIPIENTS IS AN ILLEGAL ACT. JUST AS THIS IS HAPPENING THE SENATE CONTINUES AND BEGINS TO SANDBAG THE DREAMERS BY FIRST PUTTING ON THE TABLE THE ISSUE OF SANCTUARY CITIES. AND MANY HAVE A FLAWED VIEW OF WHAT SANCTUARY CITIES ARE. MANY ERRONEOUSLY THINK THAT CITIES HARBOR HARDENED CRIMINALS. THAT IS FAR FROM THE TRUTH. A SANCTUARY CITY IS A CITY THAT ALLOWS A MOM TO TAKE HER CHILD TO SCHOOL WHO IS UNDOCUMENTED WITHOUT FEAR THAT THE PRINCIPAL WILL CALL I.C.E. OR THE AUTHORITY. A SANCTUARY CITY IS A CITY THAT ALLOWS A SENIOR CITIZEN TO GO INTO AN EMERGENCY ROOM TO BE TREATED IN A HOSPITAL WITHOUT THE FEAR THAT THE NURSE WILL TURN HIM OR HER IN. A SANCTUARY CITY IS A CITY THAT ALLOWS PEOPLE THAT ARE LIVING UNDER THE SHADOWS TO GO INTO A POLICE PRECINCT AND REPORT A CRIME WITHOUT THE FEAR THAT THEY WILL BE DEPORTED. THAT'S WHAT A SANCTUARY CITY IS. IT IS AN INTRICATE PART OF OUR SOUL AS A COUNTRY OF IMMIGRANTS AND STATES AND CITIES OF IMMIGRANTS. THE SENATE PROCESS IS FAR FROM BEING FAIR. A FAIR PROCESS WOULD BE TO STARTS A BIPARTISAN DEBATE ON DREAMERS. AND IN THIS CHAMBER, THE SPEAKER OF THIS CHAMBER HAS YET TO MAKE A COMMITMENT TO BRING A CLEAN DREAM ACT TO THE FLOOR. DREAMERS ARE OUR CHILDREN. THEY ARE MY CHILDREN. THEY ARE -- THEY BELONG TO ALL OF US. WHEN WE LOOK INTO THEIR FACES, I SEE MY OWN FACE. WHEN I LOOK INTO THEIR FACES, I SEE A MCCARTHY FELLOW WINNER LIKE CHRISTINA JIMINEZ. AND ONE WHO IS WORKING TOWARDS BECOMING A DOCTOR IN THE MILITARY. THERE IS SO MUCH ASPIRATION IN THESE DREAMERS. THIS IS WHY OVER 80% OF AMERICANS IN RED STATES AND BLUE STATES, IN REPUBLICAN DISTRICTS AND IN DEMOCRATIC DISTRICTS, SUPPORT DREAMERS STAYING HERE IN THE UNITED STATES. THEY REPRESENT THE BEST OF US. THEY REPRESENT THE FOUNDATION OF OUR NATION. THE TENMENTS OF WHAT THE FOUNDING FATHERS BELIEVED IN THAT PEOPLE SHOULD COME TO AMERICA, PROSPER, AND MAKE IT A BETTER PLACE FOR ALL OF US TO LIVE IN. MR. SPEAKER, THE FATE OF THESE YOUNG PEOPLE RESTS RIGHT HERE IN THE PALM OF OUR HANDS. WE NEED TO ASK OURSELVES, ARE WE A NATION OF ASPIRATIONS OR ARE WE A NATION OF DEPORTATIONS? IT IS IN OUR HANDS. WE CAN CANNOT KEEP DEFERRING A VOTE ON A CLEAN DREAM ACT. A DEFERRED VOTE IS A DREAM DENIED. JUSTICE DELAYED IS JUSTICE DENIED. BUT I TELL THE DREAMERS THIS, DON'T BE AFRAID. DON'T BE DISCOURAGED. DON'T BE DETERRED. DON'T DISMAY. YOU HAVE CONTINUED TO FIGHT FOR WHAT IS THE MOST IMPORTANT ISSUES FACING AMERICA. YOU HAVE DONE A TREMENDOUS JOB. KEEP THIS FIGHT MOVING FORWARD FOR JUSTICE IN AMERICA. MR. SPEAKER, THANK YOU. I YIELD BACK THE BALANCE OF MY TIME.

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    • 10:07:24 AM

      THE SPEAKER PRO TEMPORE

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM FLORIDA,…

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM FLORIDA, MS. ROS-LEHTINEN, FOR FIVE MINUTES.

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    • 10:07:32 AM

      MS. ROS-LEHTINEN

      MR. SPEAKER, I RISE TO COMMEMORATE THE 22ND ANNIVERSARY OF THE BROTHERS TO…

      MR. SPEAKER, I RISE TO COMMEMORATE THE 22ND ANNIVERSARY OF THE BROTHERS TO THE RESCUE SHOOT DOWN WHERE THREE U.S. CITIZENS AND ONE U.S. RESIDENT WERE MURDERED BY THE TYRANNICAL CASTRO REGIME. ON FEBRUARY 24, 1996, CARLOS KOSTA, MARIO DE LA PENA, ARMANDO, AND PABLO WERE ON A HUMANITARIAN MISSION OVER INTERNATIONAL AIRSPACE OVER INTERNATIONAL WATERS WHEN THEY WERE ILLEGALLY AND BRUTALLY SHOT DOWN. THE MISSION OVER THE FLORIDA STRAITS SOUGHT TO SAVE THE LIVES OF CUBANS FLEEING CASTRO'S GRIP OF POWER IN SEARCH OF FREEDOM. ONE WAS RESCUED IN A SESS MA AND -- CESSNA AND BROUGHT TO THE SAFETY OF OUR SHORES. SYLVIA WAS ONBOARD THE ONLY PLANE THAT SURVIVED. SHE RECOUNTS HOW SEEING THE BURST OF SMOKE OVER THE SKY LINE, THE PILOT, WHO ALONG WITH SYLVIA, HAS TESTIFIED BEFORE THE U.S. CONGRESS, PLEADED ON THE RADIO FOR HIS COLLEAGUES TO RESPOND. 22 YEARS HAVE PASSED BUT JUSTICE FOR THE DEATHS OF OUR AMERICAN HEROES HAS YET TO BE ACHIEVED. THEY HAVE ALL BEEN INDICTED IN OUR U.S. COURTS FOR THEIR ROLES IN THE MURDERS BROTHERS TO THE RESCUE SHOOT DOWN BUT THEY HAVE YET TO BE HELD ACCOUNTABLE. I HAVE URGED ADMINISTRATIONS AFTER ADMINISTRATION TO BRING THESE PERPETRATORS TO THE UNITED STATES SO THAT THEY CAN BE PROSECUTED AND JUSTICE CAN BE SERVED. FURTHERMORE, THE OBAMA ADMINISTRATION MADE THE GRAVE ERROR OF RELEASING CUBAN SPY HER REGARDO HERNANDEZ, WHO WAS CONVICTED OF CONSPIRACY TO COMMIT ESPIONAGE AND CONSPIRACY TO COMMIT MURDER FOR HIS ROLE IN THE DEATHS OF THESE BRAVE PILOTS. RELEASED. I WILL CONTINUE TO URGE OUR DEPARTMENT OF JUSTICE TO PURSUE LEGAL ACTION AGAINST ALL CURRENT AND FORMER CUBAN REGIME OPERATIVES WHO PERPETRATED THAT MURDEROUS ATTACK AGAINST THE BROTHERS TO THE RESCUE AIRCRAFT AND ITS UNARMED VICTIMS. AND ALL CUBAN OPERATIVES WHO PLANNED OR OTHERWISE PARTICIPATED IN THE SHOOTDOWN. TO THIS DAY THAT SAME REGIME THAT VIOLATED INTERNATIONAL LAW, THAT KILLED CARLOS, MARIO, AN PABLO REMAINS AS OPPRESSIVE AS EVER, ROUTINELY BEATING AND HARASSING PEACEFUL PROTESTORS AND INCARCERATING JOURNALISTS. WE CANNOT LET ANYONE FORGET THE BLOOD AT THE HANDS OF THE CASTRO REGIME REMAINS. THE BROTHERS TO THE RESCUE AND THEIR FAMILIES WILL FOREVER SERVE AS AN INSPIRATION FOR THOSE WHO ARE WILLING TO ENDURE GREAT SACRIFICES FOR THE SAKE OF A FREE CUBA. MR. SPEAKER, I WOULD LIKE TO CONGRATULATE THE RECIPIENTS OF THE 2018 TORCH AWARDS FROM MY ALMA MATER, FLORIDA INTERNATIONAL UNIVERSITY. THE TORCH AWARD IS THE HIGHEST HONOR GIVEN TO BOTH FACULTY AND ALUMNI BY THE F.I.U. ALUMNI ASSOCIATION, HIGHLIGHTING THE EXCELLENCE THEY BRING TO THEIR PROFESSIONS AND THE PRIDE THEY BRING TO F.I.U. AS AN EDUCATIONAL INSTITUTION. THEIR EXCEPTIONAL ACHIEVEMENTS AND CONTRIBUTIONS NOT ONLY TO OUR UNIVERSITY BUT TO OUR MIAMI COMMUNITY AT LARGE HAVE EARNED THEM THIS PRESTIGIOUS AWARD. THIS YEAR'S HONOREES INCLUDE ALUMNUS OF THE YEAR, CHAD MOSS, CLASS OF 1994. CHAD CURRENTLY SERVES AS EXECUTIVE VICE PRESIDENT OF MOSS AND ASSOCIATES, ONE OF FLORIDA'S LARGEST PRIVATE CONSTRUCTION COMPANIES. OUTSTANDING FACULTY AWARD RECIPIENT, DR. MARK ALLEN WISE. HE'S AN IMMINENT SCHOLAR, PROFESSOR, AND ASSOCIATE DIRECTOR OF ACADEMIC AFFAIRS FOR THE F.I.U. SCHOOL OF COMPUTING AND INFORMATIONAL SCIENCES. COMMUNITY LEADERSHIP AWARD RECIPIENTS, SETH OF THE CLASS OF 1998. SETH IS A PEDIATRIC RADIOLOGIST AND HAS DEMONSTRATED EXEMPLARY SERVICE AND CIVIC ENGAGEMENT IN HIS COMMUNITY THROUGH HIS ACTIVISM T. ROY JEFFERSON MEDICAL SOCIETY, AND A TWO-TIME CHAIR OF THE GROUP'S ANNUAL HEALTH FAIR WHICH HAS BEEN FITTED THOUSANDS OF UNDERSERVED CHILDREN IN PALM BEACH. LASTLY, THE CHARLES PERRY YOUNG ALUMNI VISIONARY AWARD RECIPIENT, MANNY VARAS, CLASS OF 2010 AND M.B.A. IN 2014. MANNY, THE PRESIDENT AND C.E.O. OF M.V. GROUP IS A FULL SERVICE CONSTRUCTION COMPANY AND HAS MADE GREAT STRIDES IN THE EARLY STAGES OF HIS CAREER. THESE INDIVIDUALS, MR. SPEAKER, AND MANY OTHER DISTINGUISHED ALUMNI HONORED THIS YEAR EXEMPLIFY WHAT IT MEANS TO BE AN F.I.U. PANTHER. THEIR SERVICE TO THE BETTERMENT OF OUR COMMUNITY MAKES THEM INVALUABLE AND DESERVING OF THIS GREAT AWARD. I CONGRATULATE THEM ALL AND GO, PANTHERS. THANK YOU, MR. SPEAKER.

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    • 10:12:57 AM

      THE SPEAKER PRO TEMPORE

      THE GENTLELADY YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA,…

      THE GENTLELADY YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA, MR. RUIZ, FOR FIVE MINUTES.

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    • 10:13:05 AM

      MR. RUIZ

      TODAY'S VALENTINE'S DAY. CHILDREN WILL PASS AROUND CARDS AND CANDY AT…

      TODAY'S VALENTINE'S DAY. CHILDREN WILL PASS AROUND CARDS AND CANDY AT SCHOOL. YOUNG MEN AND WOMEN WILL GATHER THE COURAGE TO SPEAK TO THEIR CRUSH. AND MANY COUPLES WILL GET ENGAGED TO MARRY. I SENT MY FIRST VALENTINE, MY MOTHER, FLOWERS, AND I WILL SPEND THIS EVENING TELLING MY WIFE, MONICA, AND MY GIRLS SKY AND SAGE, THE MANY WAYS THAT I LOVE AND APPRECIATE THEM OVER FACE TIME. BUT FOR MANY, TODAY IS NOT A JOYOUS DAY. THERE ARE TOO MANY VICTIMS OF DOMESTIC ABUSE WHO LIVE IN HOMES OF BROKEN HEARTS AND WHO SEARCH FOR LOVE BUT FIND VIOLENCE INSTEAD. NO FORM OF MENTAL, EMOTIONAL, SEXUAL, FOR PHYSICAL ABUSE IS ACCEPTABLE NO MATTER WHO IT'S FROM OR UNDER ANY CIRCUMSTANCES, PERIOD. TO THE MANY ORGANIZATIONS LIKE SHELTER FROM THE STORM, COACHELLA VALLEY RESCUE MISSION, AND OTHERS IN MY DISTRICT, THANK YOU FOR THE REFUGE AND SUPPORT THAT YOU PROVIDE. AND TO THE VICTIMS, I WANT YOU TO KNOW THAT YOU ARE NOT BROKEN. YOU ARE NOT AT FAULT. YOU ARE A SURVIVOR AND YOU HAVE THE COURAGE. HELP IS ONLY ONE PHONE CALL AWAY. HAPPY VALENTINE'S DAY.

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    • 10:14:38 AM

      THE SPEAKER PRO TEMPORE

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ALABAMA, MR.…

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ALABAMA, MR. BROOKS, FOR FIVE MINUTES.

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    • 10:14:57 AM

      BROOKS MR.

      MR. SPEAKER, AMERICA CANNOT AFFORD TO BE THE WORLD'S ORPHANAGE BECAUSE WE…

      MR. SPEAKER, AMERICA CANNOT AFFORD TO BE THE WORLD'S ORPHANAGE BECAUSE WE SIMPLY DO NOT HAVE THE MONEY. AMERICA'S O2015 DEFICIT WAS $ 438 BILLION. AMERICA'S 2016 DEFICIT DETERIORATED TO $585 BILLION. AMERICA'S 2017 DEFICIT DETERIORATED YET AGAIN TO $666 BILLION. NOW, THANKS TO LAST WEEK'S DEBT JUNKY SPENDING BILL, AMERICA FACES $1 TRILLION DEFICIT THIS YEAR. BY EVERY ACCOUNT, AMERICA'S DEFICIT THREATENS A DANGEROUS INSOLVENCY AND BANKRUPTCY THAT WILL DESTROY THE AMERICA IT TOOK OUR ANCESTORS CENTURIES TO BUILD. LET THERE BE NO MISTAKE ABOUT IT, ILLEGAL ALIENS ARE A LARGE PART OF AMERICA'S DEBT PROBLEM. PER A RECENT STUDY, ILLEGAL ALIENS ARE $116 BILLION PER YEAR NET TAX LOSS TO AMERICAN TAXPAYERS. MR. SPEAKER, THOSE WHO DO NOT LEARN FROM HISTORY ARE DOOMED TO REPEAT IT. AMERICA TRIED AMNESTY IN 1986 AND IT FAILED MISERABLY. TURNING A 1.2 MILLION ILLEGAL PROBLEM INTO A 15 MILLION ILLEGAL ALIEN DISASTER. WHY? AMNESTY DOESN'T STOP ILLEGAL CONDUCT. IT ENCOURAGES IT. IT BAFFLES ME THAT THE WASHINGTON SURRENDER CAUCUS REFUSES TO LEARN FROM HISTORY AND ANXIOUSLY SEEKS TO REPEAT 1986'S BAD MISTAKE AT GREAT COSTS TO AMERICA. AND THE COST IS GREAT. A 2015 CENTER FOR IMMIGRATION STUDIES REPORT DISCLOSED THAT MORE THAN 60% OF HOUSEHOLDS THAT HAVE AN ILLEGAL ALIEN IN THEM ARE ON WELFARE. COMPARED TO ONLY 30% OF HOUSEHOLDS WITH NO IMMIGRANTS IN THEM. CONSISTENT WITH THAT DATA, THE CONGRESSIONAL BUDGET OFFICE DETERMINED THAT THE DEMOCRATS' DREAM ACT THAT GIVES AMNESTY TO ILLEGAL ALIENS AND DEMOCRATS RECENTLY SHUT DOWN THE GOVERNMENT OVER COST FEDERAL TAXPAYERS $26 BILLION, AND THAT $26 BILLION NET TAX LOSS TO FEDERAL TAXPAYERS DOES NOT INCLUDE EVEN LARGER STATE AND LOCAL TAX LOSSES. BY ANY MEASURE, ANY AMNESTY, INCLUDING AMNESTY FOR DACA ILLEGAL ALIENS MAKES THE ILLEGAL ALIEN PROBLEM WORSE AND OVER THE LONG HAUL COSTS AMERICAN TAXPAYERS HUNDREDS OF BILLIONS OF DOLLARS AMERICA DOES NOT HAVE, HAS TO BORROW TO GET, AND CANNOT AFFORD TO PAY BACK. OF COURSE, THE LEFTIST MAINSTREAM MEDIA RARELY SHARES THESE FACTS WITH AMERICANS BECAUSE IT UNDERMINES THEIR FAKE NEWS NARRATIVE THAT DREAMER AMNESTY PAYS FOR ITSELF. MR. SPEAKER, THE EXECUTIVE BRANCH MUST DO ITS JOB. THE EXECUTIVE BRANCH MUST CATCH AND EVICT ILLEGAL ALIENS. IT IS THAT SIMPLE. FURTHER, THE EXECUTIVE BRANCH MUST ENFORCE SECTION 212 OF THE IMMIGRATION AND NATIONALITY ACT, WHICH STATES THAT NO PERSON MAY SEEK ADMISSION TO THE UNITED STATES OR BECOME A PERMANENT RESIDENT IF THE INDIVIDUAL, QUOTE, AT THE TIME OF APPLICATION FOR ADMISSION OR ADJUSTMENT OF STATUS IS LIKELIED A ANY TIME TO BECOME A PUBLIC CHARGE, END QUOTE. IF THE EXECUTIVE BRANCH WILL SIMPLY ENFORCE AMERICA'S IMMIGRATION LAWS, THERE WILL BE NO ILLEGAL ALIEN PROBLEM AND TAXPAYERS WILL OVER THE LONG HAUL SAVE HUNDREDS OF BILLIONS OF DOLLARS THAT COULD BE BETTER SPENT ON DEBT REDUCTION OR AMERICAN CITIZENS. UNFORTUNATELY, INSTEAD OF INSISTING THAT THE EXECUTIVE BRANCH ENFORCE THE LAW, WASHINGTON'S SURRENDER CAUCUS WANTS TO GIVE UP AND GRANT AMNESTY TO ILLEGAL ALIENS THEREBY AGAIN NAIVELY REWARDING ILLEGAL CONDUCT AT GREAT COSTS TO AMERICAN TAXPAYERS. IN SO DOING, WASHINGTON'S SURRENDER CAUCUS BETRAYS AMERICAN FAMILIES AND TAXPAYERS WHO MUST FOOT THE BILL FOR YET ANOTHER BAD MISTAKE BY WASHINGTON THAT'S MOTIVATED BY ELECTION EAR POLITICS, NOT -- ELECTIONEER POLITICS, NOT AMERICA'S BEST INTEREST.

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    • 10:19:53 AM

      THE SPEAKER PRO TEMPORE

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

      THE GENTLEMAN YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEMAN FROM TEXAS, MR. GREEN, FOR FIVE MINUTES.

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    • 10:19:57 AM

      MR. GREEN

      THANK YOU, MR. SPEAKER. MR. SPEAKER, I'M ALWAYS HONORED TO STAND IN THE…

      THANK YOU, MR. SPEAKER. MR. SPEAKER, I'M ALWAYS HONORED TO STAND IN THE WELL OF THE HOUSE. MR. SPEAKER, TODAY I RISE AS A LIBERATED DEMOCRAT, A LIBERATED DEMOCRAT WHO WILL NOT ONLY SPEAK TO TRUTH TO POWER BUT WHO WILL ALSO SPEAK TRUTH ABOUT POWER. MR. SPEAKER, I RISE TODAY TO DEHE FEND FREEDOM OF SPEECH. I RISE TODAY TO DEFEND THE FREEDOM OF SPEECH OF "THE HILL" NEWSPAPER. I DEFEND THE FREEDOM OF SPEECH OF "THE HILL" WHEN IT PRINTED THESE WORDS. IT READS, "MORNING JOE" HOST -- I WON'T MENTION HIS NAME -- SAID ON SUNDAY THAT THE DEMOCRATIC PARTY SHOULD TAKE AWAY FUNDING FROM DEMOCRATIC CANDIDATES WHO TALK ABOUT IMPEACHING PRESIDENT TRUMP ON THE CAMPAIGN TRAIL. I AM SUCH A CANDIDATE. I HAVE TALKED ABOUT IMPEACHING THE PRESIDENT, AND I WILL CONTINUE TALKING ABOUT IMPEACHING THE PRESIDENT. AND "THE HILL" GOES ON TO SAY -- AND I AM DEFENDING IT -- ANY DEMOCRAT WHO MENTIONS THE WORD IMPEACHMENT ON THE CAMPAIGN TRAIL SHOULD HAVE THEIR FUNDS PULLED BY THE DEMOCRATIC PARTY. THIS IS WHAT WAS TWEETED BY "MORNING JOE" HOST. I DEFEND "THE HILL" THEIR RIGHT TO PRINT IT AND I WILL DEFEND "MORNING JOE" HOST SAYING WHAT HE SAID. I WILL NOT BE INTIMIDATED. I WANT THE HOST TO KNOW, THOSE WHO THREATENED MY LIFE COULDN'T INTIMIDATE ME HE WILL NOT. I WANT THE HOST TO KNOW THAT I SPOKE ABOUT IMPEACHMENT JUST THIS WEEKEND THAT PAST AND I AM LOOKING TO FUTURE ENGAGEMENTS TO SPEAK ABOUT IMPEACHMENT AND I WILL BRING ARTICLES OF IMPEACHMENT TO THE FLOOR OF THE HOUSE OF REPRESENTATIVES AGAIN IF CONDITIONS REQUIRE IT. I AM NOT AFRAID. I HAVE NO FEAR OF THESE PEOPLE WHO WOULD HAVE ME BE ARY GAIT MY CONSTITUTIONAL RIGHTS -- ABRIGATE MY CONSTITUTIONAL RIGHTS. I WILL EXERCISE MY RIGHTS. THE TRUTH IS THIS -- WE ALL HAVE A DUTY TO SPEAK UP AND SPEAK OUT AND STAND UP. THAT'S WHAT I WILL DO. GOD BLESS YOU AND HAPPY VALENTINE'S DAY.

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    • 10:22:29 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 PENNSYLVANIA, MR. FITZPATRICK, FOR FIVE MINUTES.

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    • 10:22:34 AM

      MR. FITZPATRICK

      MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE BIG BROTHERS AND BIG SISTERS OF…

      MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE BIG BROTHERS AND BIG SISTERS OF BUCKS COUNTY WHICH HAS SERVED TENS OF THOUSANDS OF KIDS IN OUR COMMUNITY SINCE ITS FOUNDING IN 1963. THE BUCKS COUNTY CHAPTER IS UNIQUE. SINCE 2015, THEY HAVE PILOTED AN EXPANSION OF THEIR MENTORSHIP PROGRAM WHICH PAIRS ELEMENTARY SCHOOL WITH HIGH SCHOOL MENTORS TO INCLUDE CHILDREN WITH AUTISM SPECTRUM DISORDER. THIS TAILORED PROGRAM CATERS TO THE STUDENTS' UNIQUE NEEDS. PROVIDING THESE CHILDREN WITH SPECIALLY TRAINED HIGH SCHOOL MENTORS RATHER THAN ONE. THE PROGRAM HAS BEEN SO SPECIFICALLY THAT BIG BROTHERS BIG SISTERS OF BUCKS COUNTY IS NOW LOOKING TO EXPAND IT. THEIR COMMUNITY MENTORSHIP PROGRAM MATCHES AT AN RISK YOUTH AGES 6 TO 16 WITH VOLUNTEER MENTORS. THIS PROGRAM PROVIDES CARING ADULT ROLE MODELS WHO CONSISTENTLY SPEND TIME WITH THEIR LITTLES TO HELP THEM MAKE GOOD CHOICES SO THEY MAY BECOME PRODUCTIVE, RESPONSIBLE, AND ENGAGED YOUNG ADULTS. I WANT TO HIGHLIGHT THE STORY OF JOHN WILSON, THE BOARD PRESIDENT, AN INDIVIDUAL WHO HIMSELF BENEFITED FROM BIG BROTHERS BIG SISTERS. JOHN'S FATHER PASSED AWAY WHEN HE WAS 5. HE WAS MATCHED WITH A BIG BROTHER WHEN HE WAS 12. AT A POINT WHEN IN HIS OWN WORDS HE WAS AT A SIGNIFICANT RISK OF HEADING IN THE WRONG DIRECTION. HE CREDITS HIS MENTOR HAVING A PROFOUND IMPACT ON HIS LIFE WITHOUT WHOM HIS LIFE COULD HAVE TURNED OUT VERY DIFFERENTLY, IN JOHN'S WORDS. HE GRADUATED COLLEGE, ENJOYS A SUCCESSFUL CAREER AND NOW GIVES BACK TO THE BOARD. JOHN IS STILL IN CONTACT WITH HIS BIG BROTHER AND WORKING HARD TO PAY BACK THE INVESTMENT MADE IN HIM YEARS AGO. TO ALL THOSE INVOLVED IN BIG BROTHERS AND BIG SISTERS, INCLUDING JOHN, WE THANK YOU FOR YOUR WORK IN HELPING OUR YOUTH IN BUCKS COUNTY. MR. SPEAKER, GROWING UP IN MIDDLETOWNSHIP IN BUCKS COUNTY, PENNSYLVANIA, AND AS A CURRENT RESIDENT, NOW REPRESENTING MY HOMETOWN IN CONGRESS, I'VE SEEN MY COMMUNITY CHANGE THROUGHOUT THE YEARS. THE ONE CONSTANT, HOWEVER, HAS ALWAYS BEEN THE PRESENCE OF STONE MEADOWS FARM. ONE OF THE LAST REMAINING ACTIVE AGRICULTURAL LANDS IN OUR TOWNSHIP. THE 168-ACRE FARM HAS A RICH HISTORY THAT CONNECTS THE PRESENT TO THE PAST. AS DEVELOPMENT CONTINUES THROUGHOUT OUR REGION, STONE MEADOWS FARM REMINDS RESIDENTS WHY WE CHOSE TO LIVE IN MIDDLETOWN TOWNSHIP, PENNSYLVANIA. I FIRMLY BELIEVE THIS IS SOMETHING WORTH PRESERVING. IN BUCKS COUNTY WE ARE FORTUNATE OUR LOCAL AND COUNTY LEADERS CONTINUE TO MAKE CONCERTED EFFORTS TO PRESERVE OUR OPEN SPACES AND HERE IN CONGRESS, I AM WORKING TO SUPPORT PRESERVATION AND LAND CONSERVATION EFFORTS NATIONWIDE. I STAND READY TO WORK WITH ANY GOVERNMENT OFFICIAL AND OUR CITIZENS LIKE MEMBERS OF THE SAVE STONE MEADOWS FARM MOVEMENT WHO SHARE THIS GOAL TO PRESERVE OUR QUALITY OF LIFE AND THE CHARACTER OF OUR COMMUNITY. WHETHER IN OUR HOMETOWN OR ACROSS OUR GREAT NATION, WE MUST STAND READY TO PRESERVE AND PROTECT OUR OPEN SPACES FROM OVERDEVELOPMENT. WITH THAT, MR. SPEAKER, I YIELD BACK.

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    • 10:26:09 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 PENNSYLVANIA, MR. THOMPSON, FOR FIVE MINUTES.

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    • 10:26:16 AM

      MR. THOMPSON

      THANK YOU, MR. SPEAKER. MR. SPEAKER, YESTERDAY MORNING I HAD THE…

      THANK YOU, MR. SPEAKER. MR. SPEAKER, YESTERDAY MORNING I HAD THE OPPORTUNITY TO ATTEND PART OF FULTON BANKS 39TH ANNUAL AGRICULTURE SEMINAR WHICH IS A DAY-LONG INFORM MATIONAL EVENT. IT'S FREE AND FEATURES ECONOMISTS ANDREW FRANKENFIELD AND OTHER INDUSTRY EXPERTS. MR. SPEAKER, AS THE HOUSE AGRICULTURE COMMITTEE PREPARES THE NEXT FARM BILL, THERE'S BEEN UNIVERSAL AGREEMENT THAT THE DAIRY REGION'S MARGIN PROTECTION PROGRAM NEEDS TO BE REFORMED AND ADVANCED. TO ADDRESS THIS WE WERE ABLE TO MAKE MUCH-NEEDED CHANGES IN LAST WEEK'S BIPARTISAN BUDGET DEAL. THE FINAL AGREEMENT TOOK A NUMBER OF ANGSTS THAT WILL REVAMP THE PROGRAM TO BETTER PRESERVE PARTICIPATING DAIRY FARMERS. TO HELP THE PROGRAM TO BE MORE ACCURATE AND RESPONSIVE DURING DIFFICULT MONTHS, MONTHLY MARGIN CALCULATIONS HAVE BEEN CHANGED TO BIMONTHLY. TO HELP THE PROGRAM BETTER REFLECT THE GROWTH AND DAIRY HERD SIZES, THE NEW LAW EXPANDS THE FIRST TIER FROM FOUR MILLION TO FIVE MILLION POUNDS. IT RAISE THE CATASTROPHIC LEVEL OF $4 PER HUNDRED WEIGHT TO $5 PER HUNDRED WEIGHT. IT REDUCES PREMIUMS FOR THE FIRST FIVE MILLION POUNDS OF PRODUCTION MAKING HIGHER LEVELS OF PROTECTION MORE AFFORDABLE. THE NEW LAW ALLOWS FOR THE DEVELOPMENT OF INSURANCE POLICIES FOR LIVESTOCK PRODUCERS, INCLUDING FOR DAIRY FARMERS. THIS CHANGE ENCOURAGES FURTHER ADEQUATE RISK MANAGEMENT TOOLS ARE AVAILABLE THE NEXT TIME THEY ARE FACED WITH DISASTER. MR. SPEAKER, THE STATE OF THE DAIRY INDUSTRY IS MUCH DIFFERENT TODAY THAN IT WAS WHEN THE LAST FARM BILL WAS WRITTEN. TODAY WE SEE LOW MILK PRICES THAT HAVE IMPACTED THE DAIRY INDUSTRY ACROSS THE COUNTRY. THE AGRICULTURE COMMITTEE IS NOT ONLY AWARE OF THE CHALLENGES FACING IN THE INDUSTRY BUT WE ARE WORKING TO HELP BRING RELIEF. ANOTHER FACTOR NEGATIVELY IMPACTING THE DAIRY INDUSTRY IS DECLINING MILK CONSUMPTION. THIS NOT ONLY NEGATIVELY AFFECTS DAIRY FARMS AND FARM FAMILIES ACROSS THE COUNTRY BUT ALSO STUDENTS AND THEIR OVERALL NUTRITION. DESPITE THE FACT THAT PUBLIC SCHOOL ENROLLMENT WAS GROWING, SCHOOLS SERVED 213 FEWER HALF PINTS OF MILK BETWEEN 2014 AND 2016. CHILDREN OVER 4 YEARS OLD ARE NOT MEETING THE RECOMMENDED DAILY SERVINGS OF DAIRY IN THE DIETARY GUIDELINES IN AMERICA. WE KNOW MILK IS A NUTRITIONAL POWERHOUSE. GIVEN THE NUTRITIONAL VALUE OF MILK AND BECAUSE STUDENTS NEED TO BE NOURISHED TO BE AT THEIR BEST, THIS IS A CAUSE FOR CONCERN. STEADILY DECREASE IN PARTICIPATION IN THE SCHOOL LUNCH PROGRAM COUPLED WITH THE FACT FLAVORED MILK, MOST POPULAR VARIETY IN SCHOOLS, MUST BE FAT-FREE UNDER THE CURRENT LAW, HAS LED TO AN ALARMING DECLINE IN OVERALL MILK CONSUMPTION. WE LOST AN ENTIRE GENERATION OF MILK DRINKERS. THEY'VE LOST OUT THAT GENERATION ON THE NOURISHMENT, NUTRITION THAT COMES FROM MILK. PROVIDING STUDENTS THE OPTION TO CONSUME MILK WITH FLAVOR HAS THE POTENTIAL TO POSITIVELY AFFECT MILK CONSUMPTION TRENDS. AMONG CHILDREN AND ADULTS WHILE SUPPORTING THE LOCAL DAIRY FARMERS. THIS IS WHY I INTRODUCED H.R. 4101, THE SCHOOL MILK NUTRITION ACT. THIS BILL PROVIDES THE SCHOOLS THE OPTION OF OFFERING LOW FAT 1% FLAVOR MILK INSTEAD OF ONLY FAT-FREE. ON NOVEMBER 29, 2017, SECRETARY -- USDA SECRETARY ANNOUNCED A NEW RULE THAT EXPANDS OPTIONS FOR MILK IN SCHOOL LUNCHES. SIMILAR TO MY LEGISLATION, THIS RULE GIVES SCHOOLS THE OPTION TO SERVE LOW-FAT 1% FAVORED MILK. THANKFULLY THIS RULE WILL BE IN EFFECT FOR FISCAL YEAR 2018 AND FISCAL YEAR 2019. I LOOK FORWARD TO CONTINUING TO CRAFT A FARM BILL THAT PUTS FORTH THE VERY BEST POLICY FOR OUR FARMERS, OUR FAMILIES AND ALL AMERICANS AND I KNOW SECRETARY PURDUE SUPPORTS THE LEGISLATION, H.R. 4101, MOVING AHEAD TO CODIFY WHAT HE HAS BEEN ABLE TO DO WITH WHAT FLEXIBILITY HE HAS AND TO GET THAT DONE FOR OUR KIDS AND FOR THE DAIRY INDUSTRY. THANK YOU, MR. SPEAKER. AND I YIELD BACK THE BALANCE OF MY TIME. .

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    • 10:30:36 AM

      THE SPEAKER PRO TEMPORE

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM MINNESOTA,…

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM MINNESOTA, MR. EMMER, FOR FIVE MINUTES.

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    • 10:30:42 AM

      MR. EMMER

      MR. SPEAKER, I RISE TODAY TO REMEMBER THE LIFE OF SARA, A FRIEND WHO…

      MR. SPEAKER, I RISE TODAY TO REMEMBER THE LIFE OF SARA, A FRIEND WHO PASSED AWAY UNEXPECTEDLY AND FAR TOO SOON. SARAH WAS ONE OF MINNESOTA'S BEST POLITICAL COMMENTATORS. AS A STRATEGIST SHE UNDERSTOOD ALL SIDES OF THE ISSUES AND BROUGHT HUMOR EVERYWHERE SHE WENT. OVER THE COURSE OF HER CAREER, SHE BUILT RELATIONSHIPS ACROSS THE POLITICAL SPECTRUM. SHE WAS KNOWN FOR LENDING HER HONESTY AND WIT TO EVERY ENCOUNTER. SHE COMMANDED RESPECT BY BECOMING A SOURCE OF POLITICAL KNOWLEDGE THROUGH HER WRITING, NEWSLETTERS, AND COMMENTARY. SHE WAS SOUGHT AFTER BY LOCAL AND NATIONAL MEDIA TO PROVIDE HER INSIGHTS ON MINNESOTA'S UNUSUAL POLITICS. OUR COMMUNITIES HAS SUFFERED -- COMMUNITY HAS SUFFERED A GREAT LOSS. HER BRIGHT SPIRIT WILL BE MISSED. MY DEEPEST CONDOLENCES GO OUT TO HER FAMILY AND LOVED ONES. SARAH HAD A GREAT HEART AND WE'LL ALL MISS HER. MR. SPEAKER, I RISE TODAY TO HONOR THE LEGACY OF WRIGHT COUNTY SHERIFF JOE HAG ARTY. HE RETIRES AFTER 33 HONORABLE YEARS OF SERVICE TO THE THIRD LARGEST SHERIFF'S OFFICE IN THE STATE OF MINNESOTA. HE HAS A REPUTATION FOR HONESTY AND HAS BECOME REPUTATION FOR HONESTY AND HAS BECOME SOMEONE WE ALL TRUST. OUR COMMUNITY HAS BEEN HONORED TO HAVE A PUBLIC SERVANT WITH JOE'S LEVEL OF INTEGRITY AND ACCOUNTABILITY. HIS RESPECT FOR THE RULE OF LAW AND COMPASSION FOR HIS FELLOW CITIZENS MADE HIM AN EXCEPTIONAL SHERIFF. DURING HIS TIME IN OFFICE, JOE FOSTERED A RELATIONSHIP WITH NEIGHBORING COUNTIES TO SHARE A CRIME LAB WHICH HELPED SOLVE CASES AND BRING JUSTICE. EVERY SINGLE DAY JOE PUT THE SAFETY OF MINNESOTANS ABOVE ALL ELSE. SHERIFF HAGGERTY, I SPEAK ON BEHALF OF ALL MINNESOTAN WHEN IS I SAY THANK YOU. WE WISH YOU A HAPPY AND HEALTHY AND WELL DESERVED RETIREMENT. MR. SPEAKER, I RISE TODAY TO RECOGNIZE AND THANK SHERIFF JIM OLSON FOR HIS INCREDIBLE 31 YEARS OF SERVICE TO THE PEOPLE OF MINNESOTA. IN JIM'S THREE PLUS DECADES ON THE FORCE, SHERIFF OLSON OVERSAW SOME OF CARVER COUNTY'S MOST EXCITING AND TURBULENT TIMES. WHEN THE RYDER CUP WAS HELD IN 2016, JIM MANAGED SAFETY OPERATIONS AND MAINTAINED A FAMILY FRIENDLY ENVIRONMENT FOR EVERYONE. AFTER THE PASSING OF MINNESOTA LEGEND, PRINCE, JIM ENSURED THAT PAISLEY PARK REMAINED A SAFE PLACE FOR PRINCE'S FANS TO MOURN. JIM HAS DEDICATED HIS LIFE TO THE COUNTY SERVING AS AN INSTRUCTOR TO THE CITIZENS ACADEMY TO INFORM THE PUBLIC ABOUT THE SERVICES AND ROLE OF THE SHERIFF'S OFFICE. IMPRESSIVELY HE ALSO SERVES AS A MEMBER OF THE CARVER COUNTY MENTAL HEALTH CONSORTIUM TO SPREAD AWARENESS OF MENTAL HEALTH RESOURCES. HE HAS BEEN A FAITHFUL, SELFLESS SERVANT LEADER. THANK YOU FOR YOUR SERVICE. WE WISH YOU THE BEST IN YOUR RETIREMENT. MR. SPEAKER, I RISE TODAY IN RECOGNITION OF ONE OF MINNESOTA'S OUTSTANDING BUSINESSMEN, BUTCH AMES. AS CHIEF EXECUTIVE OFFICER AND CO-FOUNDER OF AMES CONSTRUCTION A. FAMILY OWNED AND PRIVATELY HELD CONSTRUCTION COMPANY, HEADQUARTERED IN MINNESOTA, BUTCH HAS BUILT AND GROWN THE INDUSTRY NATIONWIDE. AMES CONSTRUCTION IS KNOWN FOR HEAVY CIVIL, TRANSPORTATION, AND MINING CONSTRUCTION. WITH BUTCH AT THE HELM, THE COMPANY CONTINUES TO GROW AND EXPAND ITS REACH ACROSS THE NATION. THEY HAVE COMPLETED NOTABLE PROJECTS SUCH AS DENVER'S INTERNATIONAL AIRPORT, THE I-15 CORRIDOR RECONSTRUCTION PROJECT IN SALT LAKE CITY CITY, THE LOOP 202 IN PHOENIX, AND THE ST. CROIX RIVER CROSSING IN MINNESOTA. HE HOLDS HIS COMPANY TO STANDARD OF PROFESSIONALISM AND SAFETY THAT'S UNPARALLELED, SERVING HIS NATION AND INDUSTRY PROUDLY. CONGRATULATIONS. MR. SPEAKER, I RISE TODAY TO RECOGNIZE TORAH ACADEMY FOR ENTERING THEIR 7 RD YEAR EDUCATING JEWISH CHILDREN IN MINNESOTA. FROM THE BEGINNING AND TO THIS DAY, TORAH ACADEMY MAINTAINS A FOCUS ON STRENGTHENING THE MIND AND SPIRIT OF OUR FUTURE LEADERS. BECAUSE OF EDUCATORS LIKE DEAN AND RABBI PINH -- EPSTEIN, THEY OFFER A QUALITY EDUCATION ON FIRM SPIRITUAL GROUND. PILLARS OF OUR STRONG LOCAL COMMUNITY LIKE DR. JOEY GREENBERG AND HIS WIFE SPREAD KINDNESS AND AGAIN ROSSITY TO MAKE CERTAIN TORAH CAN EXECUTE ITS MISSION AND GOALS. A SPECIAL THANK YOU TO CITIZENS INDEPENDENT BANK WHO ALSO DEDICATES THEIR SUPPORT. TORAH STUDENTS SUCCEED BECAUSE THEIR COMMUNITY SUPPORTS THEM. THEY ARE GUARANTEED TO MAKE THEIR CORNER OF THE WORLD A BETTER PLACE. CONGRATULATIONS TO TORAH ACADEMY FOR A SUCCESSFUL 73 YEARS. WE WISH YOU MANY MORE. I YIELD BACK.

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    • 10:35:49 AM

      THE SPEAKER PRO TEMPORE

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ILLINOIS,…

      THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ILLINOIS, MR. RUSH, FOR FIVE MINUTES.

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    • 10:35:57 AM

      MR. RUSH

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

    • 10:36:01 AM

      TEMPORE WITH

      WITHOUT OBJECTION.

    • 10:36:03 AM

      MR. RUSH

      MR. SPEAKER, I RISE TODAY TO PAY TRIBUTE AND HONOR TO THE MEMORY OF DR.…

      MR. SPEAKER, I RISE TODAY TO PAY TRIBUTE AND HONOR TO THE MEMORY OF DR. ROSEMARY JACKSON. ROSE WAS AN EDUCATOR IN CHICAGO . DR. JACKSON WAS A ENTREPRENEUR. ROSE WAS AN EXCEPTIONAL COMMUNITY LEADER. WHO PASSED AWAY LAST WEEK. AND LEAVES BEHIND A LEGACY THAT WILL ENDURE THROUGHOUT THE YEARS. DR. JACKSON WAS A LIFELONG CHICAGO RESIDENT WHO HAD A PASSION FOR EDUCATION. A PASSION THAT BEGAN WHEN SHE WAS A YOUNG GIRL. SHE RECEIVED HER PH.D. LAY YOLEA UNIVERSITY AND -- LOYOLA UNIVERSITY AND A MASTERS GREE FROM THE NATIONAL COLLEGE OF EDUCATION AND THE DEPAUL UNIVERSITY. BEGINNING HER CAREER AS AN ENGLISH TEACHER AT HER ALMA MATER, JOHN MARSHALL HIGH SCHOOL, MY ALMA MATER, SHE WENT ON TO TEACH AT LOCAL INSTITUTIONS SUCH AS THE HYDE PARK HIGH SCHOOL ON THE SOUTH SIDE IN MY DISTRICT. THE KENNEDY-KING COMMUNITY COLLEGE IN MY DISTRICT. AND HER BELOVED DEPAUL UNIVERSITY. ALL THESE PLACES, MR. SPEAKER, ROSE TOUCHED DEEPLY COUNTLESS LIVES AND INSPIRED SO MANY YOUNG PEOPLE. ROSE JACKSON, MR. SPEAKER, WAS A PILLAR OF THE COMMUNITY AND DEEPLY COMMITTED PERSON, COMMITTED TO PUBLIC SERVICE. SHE WAS ALSO A MEMBER OF THE DELTA SIGMA THETA SORORITY FOR WHICH SHE CHAIRED SEVERAL COMMITTEES DURING HER TENURE AS AN MEMBER OF THE DEALT DELTAS. BEYOND HER LOVE FOR EDUCATION, HER LOVE FOR COMMUNITY SERVICE, DR. JACKSON WAS A BELOVED WIFE AND MOTHER. SHE WAS THE VICE CHAIRMAN AND CHIEF ADMINISTRATIVE OFFICER OF THE CHICAGO-BASED CENTRAL CITY PRODUCTIONS. THE BUSINESS THAT SHE HELPED DEVELOP WITH HER LIFELONG PARTNER, HER DEVOTED HUSBAND, MY LONG TIME FRIEND,. MR. DONALD JACKSON. IT IS BEST KNOWN FOR PRODUCING THE STELLAR AWARDS. THE FIRST AND OLDEST TELEVISED AWARDS SHOW IN OUR NATION THAT HONORED GOSPEL MUSIC ARTISTS FOR OVER 33 YEARS. DR. JACKSON ACHIEVED SO MUCH IN HER LIFE THROUGH HARD WORK AND DETERMINATION. SHE NEVER GAVE UP. ALWAYS FOUGHT FOR WHAT WAS RIGHT. AND MADE IT HER LIFE'S MISSION TO HELP STUDENTS IN CHICAGO EXPLORE THEIR POTENTIAL AND THEIR EDUCATIONAL POSSIBILITY. ROSE WAS A TRULY REMARKABLE, SMART A, AND PHENOMENAL WOMAN WHO ENJOYED THE -- SMART, AND PHENOMENAL WOMAN WHO ENJOYED THE ARTS, SPORTS, AND LOVED LINE DANCING. SHE HAD A SMILE THAT WOULD LIGHT UP A ROOM. ROSE WOULD BE MISSED BY HER FAMILY, HER FRIENDS, OUR CITY, OUR STATE, AND INDEED, OUR NATION. THOSE WILL FONDLY REMEMBER HER BEAUTIFUL AND LOVING SPIRIT. I WAS BLESSED TO KNOW HER AND CHICAGO IS BETTER BECAUSE OF HER. MY HEART GOES OUT TO HER FAMILY. THE LAST TIME I SAW ROSE, ME AND MY LATE WIFE, LAST YEAR, WAS COMING IN TO ONE OF OUR FAVORITE RESTAURANTS AND -- IN THE COMMUNITY AND ROSE AND DON, HER HUSBAND, WERE LEAVING. AND WE STOPPED FOR A MOMENT AND SHARED CONVERSATION. MR. SPEAKER, ON BEHALF OF THE PEOPLE OF THE FIRST CONGRESSIONAL DISTRICT OF ILLINOIS, THANK YOU, ROSE. THANK YOU, GOD BLESS YOU. ENJOY YOUR REST. YOU HAVE EARNED IT. GOD BLESS YOU.

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    • 10:41:29 AM

      THE SPEAKER PRO TEMPORE

  • 10:41:30 AM

    Recess

    The Speaker announced that the House do now recess. The next meeting is scheduled for 12:00 P.M. today.

    • 12:00:05 PM

      Reconvened

      The House convened, returning from a recess continuing the legislative day of February 14.

      • 12:00:16 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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      • 12:00:17 PM

        Today's prayer was offered by the House Chaplain, Rev. Patrick J. Conroy.

        • 12:01:25 PM

          THE SPEAKER

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

          THE CHAIR HAS EXAMINED THE JOURNAL OF THE LAST DAY'S PROCEEDINGS AND ANNOUNCES HIS APPROVAL THEREOF. THE JOURNAL STANDS APPROVED. THE PLEDGE OF ALLEGIANCE WILL BE LED BY THE GENTLEWOMAN FROM ALABAMA, MRS. ROBY.

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      • 12:01:27 PM

        The Speaker announced approval of the Journal. Pursuant to clause 1, rule I, the Journal stands approved.

      • 12:01:30 PM

        PLEDGE OF ALLEGIANCE

        The Chair designated Mrs. Roby to lead the Members in reciting the Pledge of Allegiance to the Flag.

        • 12:01:42 PM

          MRS. ROBY

          I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE…

          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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      • 12:01:51 PM

        ONE MINUTE SPEECHES

        The House proceeded with one minute speeches which by direction of the Chair, would be limited to 15 per side of the aisle.

        • 12:01:52 PM

          THE SPEAKER

          THE CHAIR WILL ENTERTAIN UP TO 15 REQUESTS FOR ONE-MINUTE SPEECHES ON EACH…

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

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        • 12:01:59 PM

          >>

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

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

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        • 12:02:03 PM

          THE SPEAKER PRO TEMPORE

          --

        • 12:02:04 PM

          THE SPEAKER

          --

        • 12:02:06 PM

          MR. THOMPSON

          THANK YOU, MR. SPEAKER. ON MONDAY I HAD THE PRIVILEGE OF VISITING CENTRAL…

          THANK YOU, MR. SPEAKER. ON MONDAY I HAD THE PRIVILEGE OF VISITING CENTRAL MOUNTAIN HIGH SCHOOL CAREER AND TECHNICAL EDUCATION CERTAINTY. THIS IS A STATE-OF-THE-ART 235,000 SQUARE FOOT ACADEMIC CAREER TECHNICAL EDUCATION COMPLEX. THE KEYSTONE CENTRAL SCHOOL DISTRICT HAS INTRODUCED AN IMPLEMENTED A C.T.E. CURRICULUM THAT OFFERS A TOTALLY INTEGRATED ACADEMIC CAREER AND TECHNICAL EDUCATION FOR ALL NINTH THROUGH 12TH GRADERS. THE INTEGRATION MODEL ALLOWS ALL STUDENTS TO EXPLORE AND ENTERTAIN HIGH ACADEMIC AND TECHNICAL SKILLS IN THEIR CHOSEN PROFESSION. THIS SYSTEM IS DESIGNED TO PROVIDE ALL STUDENTS WITH AN EDUCATION EXPLORATION OPPORTUNITY THAT IS BOTH RIGOROUS AND RELEVANT FOR CAREER AND POST SECONDARY SUCCESS. MR. SPEAKER, AS CO-CHAIR OF THE CAREER AND TECHNICAL EDUCATION CAUCUS AND AUTHOR OF THE STRENGTHENING CAREER AND TECHNICAL EDUCATION FOR THE 21ST CENTURY ACT, I AM THRILLED TO SEE THIS KIND OF COMPLEX IN MY COMMUNITY. OFFERING C.T.E. PROGRAMS TO STUDENTS IN HIGH SCHOOL TRULY GIVES THEM AN OPPORTUNITY TO EXPLORE CAREER OPTIONS. THERE IS AN ENORMOUS SKILLS GAP THAT EXISTS TODAY IN AMERICA. THERE ARE GOOD-PAYING, FAMILY SUSTAINING JOBS OUT THERE BUT PEOPLE NEED THE RIGHT SKILTS TO OBTAIN THOSE JOBS -- SKILLS TO OBTAIN THOSE JOBS. C.T.E. PROGRAMS ARE THE PATHWAY TO SUCCESS. I YIELD BACK THE BALANCE OF MY TIME.

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        • 12:03:27 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM RHODE ISLAND SEEK RECOGNITION?

        • 12:03:30 PM

          MR. CICILLINE

          I ASK UNANIMOUS CONSENT C.T.E. PROGRAMS ARE THE TO ADDRESS THE HOUSE FOR…

          I ASK UNANIMOUS CONSENT C.T.E. PROGRAMS ARE THE TO ADDRESS THE HOUSE FOR ONE MINUTE.

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        • 12:03:34 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION. THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

        • 12:03:36 PM

          MR. CICILLINE

          MR. SPEAKER, THE PRESIDENT AND OUR REPUBLICAN COLLEAGUES ARE AT IT AGAIN.…

          MR. SPEAKER, THE PRESIDENT AND OUR REPUBLICAN COLLEAGUES ARE AT IT AGAIN. PROMOTING ECONOMIC POLICIES THAT ENRICH THE WEALTHY AND BIGGEST CORPORATIONS IN OUR COUNTRY, THAT WILL HURT MIDDLE CLASS FAMILIES. WE SAW IN IN THE TAX SCAM. WE SEE IT IN THE PRESIDENT'S BUDGET. NOW WE EVEN SEEN IT IN THE INFRASTRUCTURE PROPOSAL. PRESIDENT TRUMP PROPOSES A $200 BILLION INFRASTRUCTURE PLAN THAT WILL RAISE FEES AND TOLLS ON COMMUTERS. WILL BURDEN CITIES AND STATES. AND ASK OTHERS TO FILL THE FUNDING GAP. SELLS OFF INFRASTRUCTURE TO WALL STREET AND PRIVATE COMPANIES. AND ENDS VITAL WORK AND ENVIRONMENTAL PROTECTIONS. THE DEMOCRATS HAVE PROPOSED A BETTER DEAL. A $1 TRILLION INVESTMENT. FIVE TIMES THE PRESIDENT'S PLAN, TO REALLY REBUILD AMERICA. IT WILL CREATE SIX MILLION GOOD-PAYING JOBS. IT WILL DELIVER LOWER PRICES AND BETTER CHOICES FOR CONSUMERS. IT SAFEGUARDS CLEAN AIR AND CLEAN WATER AND WORKER PROTECTION. IT BUILDS MORE RESILIENT INFRASTRUCTURE, WITHSTAND CLIMATE CHANGE, AND ENSURES PRODUCTS ARE BUILT WITH AMERICAN MATERIALS. PROTECTION. IT BUILDS THERE'S A REAL CONTRAST HERE BETWEEN WHAT THE PRESIDENT HAS PROPOSED IS SHIFT THE BURDEN TO CITIES AND STATES AND FOR THE FEDERAL GOVERNMENT TO ABANDON ITS RESPONSIBILITY TO HELP REBUILD OUR COUNTRY. THE DEMOCRATS HAVE A BETTER DEAL THAN THIS RAW DEAL. IT'S A DEAL TO REALLY REBUILD OUR COUNTRY TO CREATE 60 MILLION GOOD PAYING JOBS, TO MAKE SURE THE FEDERAL GOVERNMENT REMAINS A REAL PARTNER IN REBUILDING AMERICA. WITH THAT I YIELD BACK.

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        • 12:05:00 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM FLORIDA SEEK RECOGNITION?

        • 12:05:03 PM

          >>

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

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

          Show Full Text
        • 12:05:08 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

        • 12:05:10 PM

          >>

          THANK YOU, MR. SPEAKER. MR. SPEAKER, TODAY I RISE IN RECOGNITION OF A MAN…

          THANK YOU, MR. SPEAKER. MR. SPEAKER, TODAY I RISE IN RECOGNITION OF A MAN WHOSE SERVICE TO HIS COMMUNITY HAS RESULTED IN GREATER SAFETY, SECURITY, AND JUSTICE IN POLK COUNTY, FLORIDA. SHERIFF GRADY JUD, A DEAR FRIEND, HAS BEEN SWORN INTO THE ROLE OF THE PRESIDENT OF THE MAJOR COUNTY SHERIFF'S ASSOCIATION OF AMERICA. A POSITION TO WHICH HE WILL BRING HIS KNOWLEDGE, HIS SKILL, AND HIS INTEGRITY TO ADVOCATE FOR SAFER COMMUNITIES ACROSS OUR GREAT NATION. FOR CENTURIES THE ANGELO AMERICAN SHERIFF ASSOCIATION HAS PROS TWO AMERICAN PRESIDENTS, GROMB CLEVELAND AND TEDDY ROOSEVELT. HE HAS LONG BEEN AN ADVOCATE CLEVELAND AND TEDDY ROOSEVELT. HE HAS LONG BEEN AN ADVOCATE FOR THE RULE OF LAW AND BENEFIT AS HE RISES TO HIS POSITION TO FIGHT TO UPHOLD THE NOBLE TRADITION OF KEEPING THE PEACE. MY DEEPEST CONGRATULATIONS TO SHERIFF JUDD AND HIS FAMILY AND THE MAJOR COUNTY SHERIFFS OF AMERICA WHO DO SUCH IMPORTANT WORK TO KEEP US SAFE. WITH THAT, MR. SPEAKER, I YIELD BACK. THE MAJOR COUNTY

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        • 12:06:10 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM MICHIGAN SEEK RECOGNITION?

        • 12:06:13 PM

          MR. KILDEE

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

        • 12:06:16 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE. MR. KILDEE…

          WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE. MR. KILDEE CLOON --

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        • 12:06:19 PM

          MR. KILDEE

          THANK YOU, MR. SPEAKER. THIS WEEK THE LONG AWAITED TRUMP INFRASTRUCTURE…

          THANK YOU, MR. SPEAKER. THIS WEEK THE LONG AWAITED TRUMP INFRASTRUCTURE PLAN WAS FINALLY RELEASED. WHAT A DISAPPOINTMENT. AFTER COMING HERE A YEAR AGO AND PROMISING A $1 TRILLION PLAN. IN HIS STATE OF THE UNION SAYING IT'S GOING TO BE EVEN BIGGER, HUGE, $1.5 TRILLION. IN THE FINE PRINT, HOWEVER, $1.3 TRILLION OF THE $1.5 TRILLION COMES FROM COMMUNITIES LIKE MY HOMETOWN OF FLINT, MICHIGAN. NOW, LET'S BE CLEAR. IF STATES AND LOCAL COMMUNITIES HAD AN EXTRA $1.5 TRILLION -- $1.3 TRILLION LAYING AROUND, THEY WOULD BE SERVICING THOSE ROADS AND BRIDGES. THEY WOULD BE REBUILDING THEIR WATER SYSTEMS. THEY WOULD BE DOING THIS WORK ALREADY. IF WE'RE GOING TO HAVE A FEDERAL INFRASTRUCTURE PLAN A, WE NEED TO HAVE A FEDERAL INFRASTRUCTURE PLAN THAT'S REALLY INVESTMENT. AND NOT JUST CHECKING THE BOX SO THAT THE PRESIDENT CAN SAY HE SUBMIT ADD BIG, BOLD INFRASTRUCTURE PLAN MUCH IT'S NOT BIG AND BOLD FROM THE FEDERAL GOVERNMENT'S POINT OF VIEW. PRESIDENT CAN SAY HE SUBMIT ADD $200 BILLION VIN HEMENT FROM THE FEDERAL GOVERNMENT OFFSET BY A $170 BILLION REDUCTION IT WOILS DOWN TO $3 BILLION A YEAR OVER 10 YEARS. THAT'S NOT BIG. THAT'S NOT BOLD. AND THAT WON'T FIX THE ROADS AND BRIDGES IN THIS COUNTRY. I YIELD BACK.

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        • 12:07:42 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM SOUTH CAROLINA SEEK RECOGNITION?

        • 12:07:46 PM

          >>

          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.

          Show Full Text
        • 12:07:51 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

        • 12:07:53 PM

          MR. WILSON

          MR. SPEAKER, THIS WEEKEND IRAN HAS WRONGFULLY SEIZED ANOTHER AMERICAN…

          MR. SPEAKER, THIS WEEKEND IRAN HAS WRONGFULLY SEIZED ANOTHER AMERICAN HOSTAGE. A DUAL AMERICAN IRANIAN CITIZEN WAS VOLUNTEERING WITH THE PERSIAN WILDLIFE HERITAGE FOUNDATION WHEN HE WAS MALICIOUSLY ARRESTED. THIS IS IN ADDITION TO THE TRAGIC NEWS THAT CANADIAN AMANI, WHO WAS ARRESTED WORKING WITH THE FOUNDATION, DIED LAST WEEK UNDER SUSPICIOUS CIRCUMSTANCES IN AN IRANIAN PRISON. TABAZ IS THE C.E.O. OF THE PERSIAN WILDLIFE FOUNDATION AND FORM PRESIDENT OF EMPIRE RESORTS. HE ATTENDED COLGATE UNIVERSITY AND COLUMBIA BUSINESS SCHOOL. HE'S AN UPSTANDING AMERICAN CITIZEN WHO DOES NOT DESERVE TO BE TREATED LIKE A CRIMINAL NOR POLITICAL PAWN BY A ROGUE REGIME AS HE PROMOTES THE EXTRAORDINARY HERITAGE OF PERSIA. THE OBAMA ADMINISTRATION CAVED TO THE DANGEROUS RANSOM DEALS WITH IRAN. STRATEGIC PATIENTS ONLY EMBOLDEN THEM TO SUBJUGATE THE BRAVE CITIZENS OF IRAN. AS THE GOVERNMENT CONTINUES TO UNDERMINE PEACE, FREE NATIONS MUST WORK TOGETHER ADDRESS THIS SERIOUS THREAT. I SUPPORT SECRETARY OF STATE REX TILLERSON AND AMBASSADOR HALEY IN CALLING FOR RELEASE OF ALL AMERICAN GOVERNMENT UNJUSTLY DETAINED IN CITIZENS IRAN. WE WILL NEVER FORGET SPEAVEN THE GLOBAL WAR ON TERRORISM.

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        • 12:09:17 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM ILLINOIS SEEK IRAN. WE WILL…

          FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM ILLINOIS SEEK IRAN. WE WILL RECOGNITION?

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        • 12:09:20 PM

          >>

          UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

        • 12:09:29 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE. TO…

          WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE. TO ADDRESS THE HOUSE FOR ONE MINUTE.

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        • 12:09:33 PM

          TEMPORE WITHO

          WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE.

        • 12:09:35 PM

          >>

          THANK YOU. MR. SPEAKER, FEBRUARY IS NATIONAL CHILDREN'S DENTAL HEALTH…

          THANK YOU. MR. SPEAKER, FEBRUARY IS NATIONAL CHILDREN'S DENTAL HEALTH MONTH.

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        • 12:09:38 PM

          MS. KELLY

          DURING THIS MONTH WE RAISE AWARENESS ABOUT THE IMPORTANCE OF ORAL HEALTH,…

          DURING THIS MONTH WE RAISE AWARENESS ABOUT THE IMPORTANCE OF ORAL HEALTH, ESPECIALLY FOR AMERICA'S KIDS. TOOTH DECAY IS THE MOST COMMON CHRONIC CHILDHOOD DISEASE. FIVE STATUS IS DIRECTLY TIED TO ACADEMIC ACHIEVEMENT DISEASE. FIVE TIMES MORE COMMON THAN ASTHMA. SEVEN TIMES MORE COMMON THAN HAY FEVER. AN ORAL HEALTH AND SCHOOL ATTENDANCE. ONE WE WE CAN FIX THIS IS PASSING THE ACTION NOR DENTAL HEALTH ACT WHICH WAS UNANIMOUSLY REPORTED OUT OF THE ENERGY AND COMMERCE COMMITTEE ON SEPTEMBER 25. THIS BIPARTISAN BILL IS CO-SPONSORED BY 83 MEMBERS AND SUPPORTED BY THE AMERICAN DENTAL ASSOCIATION, THE NATIONAL DENTAL ASSOCIATION, THE AMERICAN DENTAL EDUCATION ASSOCIATION, AND 39 OTHER ADVOCACY GROUPS. ONCE ENACTED THIS BILL WILL EMPOWER THE C.D.C. TO DELIVER MORE AND BETTER DENTAL HEALTH CARE TO UNDERSERVED POPULATIONS ESPECIALLY IN URBAN AND A RURAL COMMUNITIES. AND INCREASE EDUCATION ABOUT THE IMPORTANCE OF ORAL HEALTH. I'M PROUD TO BE WORKING WITH CONGRESSMAN MIKE SIMPSON OF IDAHO ON THIS BIPARTISAN BILL. I ASK THE SPEAKTORY SCHEDULE A VOTE ON THE BILL BEFORE THE END OF NATIONAL CHILDREN'S DENTAL HEALTH MONTH. LASTLY, AID LIKE TO WISH MY COLLEAGUES AND MY CONSTITUENTS A HAPPY VALENTINE'S DAY.

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        • 12:10:39 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE THE GENTLEWOMAN FROM ALABAMA SEEK RECOGNITION?

        • 12:10:43 PM

          >>

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

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

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        • 12:10:48 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE.

        • 12:10:51 PM

          MRS. ROBY

          THANK YOU, MR. SPEAKER. THIS WEEK THE SENATE IS TAKING ACTION TO ADDRESS…

          THANK YOU, MR. SPEAKER. THIS WEEK THE SENATE IS TAKING ACTION TO ADDRESS OUR ILLEGAL IMMIGRATION PROBLEM. I RISE TODAY TO SHARE SOME FEEDBACK FROM THE PEOPLE I REPRESENT IN ALABAMA'S SECOND CONGRESSIONAL DISTRICT. I RECENTLY HELD TWO TELEPHONE TOWN HALL EVENTS TO HEAR DIRECTLY FROM SOME OF MY CONSTITUENTS. LET ME START BY SAYING, MR. SPEAKER, THANK YOU TO EVERY PERSON WHO TOOK THE TIME TO PARTICIPATE AND ASK QUESTIONS. DURING BOTH TOWN HALLS, I ASKED EVERYONE WHAT THEIR TOP PRIORITY WAS REGARDING OUR COUNTRY'S ILLEGAL IMMIGRATION ISSUE. AND THE VAST MAJORITY OF PARTICIPANTS SAID THEY ARE MOST CONCERNED ABOUT SECURING OUR BORDER. I COULDN'T AGREE MORE. I ALWAYS SAID IN ORDER TO TRULY FIX OUR IMMIGRATION SYSTEM, WE ABSOLUTELY HAVE TO START BY SECURING OUR BORDER. IF I HAD A LEAK IN MY HOUSE, I WOULDN'T START BY REPLACING THE DAMAGED DRY WALL, I WOULD FIX THE LEAK FIRST. MR. SPEAKER, THE SAME IDEA APPLIES NOR OUR ILLEGAL -- FOR OUR ILLEGAL IMMIGRATION PROBLEM. WE WILL ONLY BE ABLE TO MAKE REAL PROGRESS TOWARDS FIXING THE ISSUE ONCE WE SECURE OUR BORDER. I'M PLOWED TO SUPPORT THESE EFFORTS IN THE HOUSE AND I STAND -- I'M PROUD TO SUPPORT THESE EFFORTS IN THE HOUSE AND I STAND READY TO CONTINUE TO TACKLE THE PROBLEM WHERE IT STARTS, AT THE BORDER. I YIELD BACK.

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        • 12:12:10 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION.

        • 12:12:13 PM

          >>

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

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

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        • 12:12:18 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

        • 12:12:21 PM

          >>

          MR. SPEAKER, OUTSIDE THIS BUILDING MORE AND MORE REPUBLICANS BEKNOWN THE…

          MR. SPEAKER, OUTSIDE THIS BUILDING MORE AND MORE REPUBLICANS BEKNOWN THE EFFECT OF TRUMPISM ON THEIR PARTY. WE SHOULD TAKE A MOMENT TO DEFINE THIS NEW PHENOMENON. TRUMPISM IS WHEN THE WHIMS OF OUR AUTHORITARIAN PRESIDENT TRUMP THE VALUES REPUBLICANS ONCE STOOD FOR. IT'S WHEN EVANGELICALS SAY CHARACTER DOESN'T MATTER. IT'S WHEN RULE OF LAW CONSTITUTIONALISTS SHIELD TRUMP BY ATTACKING THE INSTITUTION THAT IS GUARANTEE THE RULE OF LAW.

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        • 12:12:49 PM

          MR. HUFFMAN:

          : WHEN FIRST AMENDMENT CHAMPIONS JOIN TRUM NATIONAL PARK ATTACKING OUR…

          : WHEN FIRST AMENDMENT CHAMPIONS JOIN TRUM NATIONAL PARK ATTACKING OUR FREE PRESS. WHEN RUSSIA HAWKS BOW AND SCRAPE BEFORE A PRESIDENT WHO CHOOSES TO BELIEVE HIS PAL, VLADIMIR, OVER ALL OUR U.S. INTELLIGENCE AGENCIES. TRUMPISM IS WHEN THIS HOUSE, WHICH IS SUPPOSED TO CONDUCT SERIOUS OVERSIGHT, ACTS LIKE TRUMP'S LAP DOG, IGNORING OR ABETTING CORRUPTION AND OBSTRUCTION OF JUSTICE. BECAUSE TRUMPISM THREATENS OUR DEMOCRACY, MANY LEADING REPUBLICANS ARE LEAVING THEIR PARTY OR, LIKE GEORGE BUSH'S SPEECHWRITER, CALLING ON VOTERS TO DELIVER A MESSAGE THIS FALL. WITHOUT THAT POLITICAL JOLT, ELECTED REPUBLICANS WILL JUST KEEP CLINGING TO THE U.S.S. TRUMP AS IT SINKS FURTHER INTO THE SWAMP. NOW THAT WE HAVE DEFINED TRUMPISM, LET'S WORK TOGETHER TO SAVE THIS COUNTRY FROM IT. I YIELD BACK.

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        • 12:13:39 PM

          TEMPORE MEMBERS

          MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIESES TOWARDS…

          MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIESES TOWARDS THE PRESIDENT. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM SEEK RECOGNITION.

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        • 12:13:54 PM

          >>

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

        • 12:13:58 PM

          TEMPORE WITHOUT

          WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

        • 12:14:00 PM

          MR. SMITH

          FOR ONE MINUTE.

        • 12:15:04 PM

          THE SPEAKER PRO TEMPORE

          SELF-WORTH. THE SPEAKER PRO TEMPORE: FOR WHAT PURPOSE DOES THE GENTLEMAN…

          SELF-WORTH. THE SPEAKER PRO TEMPORE: FOR WHAT PURPOSE DOES THE GENTLEMAN FROM INDIANA SEEK RECOGNITION?

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        • 12:15:08 PM

          >>

          UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

        • 12:15:14 PM

          >>

          MR. SPEAKER, I RISE TODAY TO COMMEMORATE THE 50TH ANNIVERSARY OF THE 9-1-1…

          MR. SPEAKER, I RISE TODAY TO COMMEMORATE THE 50TH ANNIVERSARY OF THE 9-1-1 SYSTEM AND TO HONOR ITS FOUNDER, CONGRESSMAN ED ROUSH, OF HUNTINGTON, INDIANA. AS THE REPRESENTATIVE FROM MY NORTHEAST INDIANA DISTRICT, THE LATE CONGRESSMAN ROUSH WAS A DRIVING FORCE BEHIND THE EFFORTS TO CREATE ONE CENTRAL TELEPHONE NUMBER THAT CITIZENS COULD USE IN A TIME OF CRISIS TO RECEIVE HELP. . LAUNCHING A ONE-MAN CRUSADE, HE WROTE TO GOVERNORS AND PUBLIC SERVANTS TO GAIN SUPPORT FOR AN EMERGENCY PHONE NUMBER THAT WAS EASY TO REMEMBER UNDER STRESS AND SHORT ENOUGH TO DIAL QUICKLY. THE CONGRESSMAN'S EFFORTS WERE SUCCESSFUL AND THE 911 SYSTEM WENT LIVE IN INDIANA WITH THE CONGRESSMAN PLACING THE FIRST TEST CALL. DUE TO HIS EFFORTS, HUNTINGTON LED THE WAY FOR OTHER MUNICIPALITIES TO ADOPT THE IMPORTANT EMERGENCY SYSTEM THAT HAS SAVED SO MANY LIVES. HOOSIERS ARE PROUD OF HIS LEADERSHIP ON THIS INITIATIVE. WE AS A NATION ARE SAFER DUE TO HIS EFFORTS AND THE EVERY DAY LIFE-SAVING ACTIONS OF 911 OPERATORS AND FIRST RESPONDERS. I YIELD BACK.

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        • 12:16:30 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM COLORADO SEEK RECOGNITION?

        • 12:16:35 PM

          MR. POLIS

          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. I RISE TODAY IN SUPPORT OF THE OLYMPIC ATHLETES FROM THE GREAT STATE OF COLORADO. THE OLYMPICS ARE A DEM ORN ADMINISTRATION OF FELLOWSHIP, COMMITMENT, DETERMINATION AND GRIT, A WONDERFUL EXAMPLE FOR THE WORLD. THERE ARE 36 PARTICIPATING FROM COLORADO, THE MOST FROM ANY STATE AND COMPETING IN 17 DIFFERENT DISCIPLINES. 12 OF THESE OLYMPIC ATHLETES ARE FROM COLORADO'S 2ND. LINDSAY, SARAH, JOE AN, CASEY, CRYSTAL, JAILEN, MIKE, KATIE, CHRIS, KYLE AND READ, ALL HAIL FROM THE 2ND DISTRICT OF COLORADO. THIS PAST PAST, REED WON THE OLYMPIC GOLD MEDAL, THE FIRST GOLD MEDAL FOR TEAM U.S.A. REED LEARNED TO SNOWBOARD IN HIS BACK YARD. ANOTHER ONE, ARIAL GOLD AND GOLD IS A GOOD NAME, DESPITE DISLOATHING HER SHOULDER IS BRINGING HOME A BRONZE MEDAL IN THE HALFPIPE. I WISH I HAD TIME TO TALK ABOUT THE OTHER 36. THEY ARE AN INSPIRATION TO ALL AMERICANS AND I'M ROOTING FOR THEM. U.S.A. U.S.A. U.S.A. I YIELD BACK.

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        • 12:18:10 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

        • 12:18:22 PM

          >>

          I RISE TODAY BECAUSE I AM A PROPONENT OF IMPEACHMENT. I HAVE AS MUCH AS…

          I RISE TODAY BECAUSE I AM A PROPONENT OF IMPEACHMENT. I HAVE AS MUCH AS NOT ONLY SAID SO, BUT BROUGHT ARTICLES OF IMPEACHMENT BEFORE THE HOUSE OF REPRESENTATIVES.

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        • 12:18:33 PM

          MR. GREEN

          THERE ARE A GOOD MANY PEOPLE WHO ARE OPPOSED TO MY POSITION. AS A MEMBER…

          THERE ARE A GOOD MANY PEOPLE WHO ARE OPPOSED TO MY POSITION. AS A MEMBER OF THE HOUSE, I WOULD CHALLENGE ANY MEMBER WHO DESIRES TO DEBATE THIS ISSUE ON THE FLOOR OF THE HOUSE, I WOULD ALSO CHALLENGE ANY MEMBER OF A MORNING PROGRAM, "MORNING JOE" WHO BELIEVES HE SHOULD BACK UP HIS WORDS TO TALK TO ME ON HIS PROGRAM. NEVER TALKED TO ME, WOULD YOU INVITE ME ON YOUR PROGRAM AND SHOW THE COURAGE TO SPEAK OF THESE ISSUES WITH ME THERE SO I MAY DEFEND AND YOU MAY ATTACK. I YIELD BACK THE BALANCE OF MY TIME.

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        • 12:19:18 PM

          THE SPEAKER PRO TEMPORE

          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM GAY SEEK RECOGNITION?

        • 12:19:18 PM

          Considered as privileged matter. H. Res. 736 — "Providing for consideration of the bill (H.R. 620) to amend the Americans with Disabilities Act of 1990 to promote compliance through education, to clarify the requirements for demand letters, to provide for a notice and cure period before the commencement of a private civil action, and for other purposes; providing for consideration of the bill (H.R. 3299) to amend the Revised Statutes, the Home Owners' Loan Act, the Federal Credit Union Act, and the Federal Deposit Insurance Act to require the rate of interest on certain loans remain unchanged after transfer of the loan, and for other purposes; providing for consideration of the bill (H.R. 3978) to amend the Real Estate Settlement Procedures Act of 1974 to modify requirements related to mortgage disclosures, and for other purposes; and providing for proceedings during the period from February 16, 2018, through February 23, 2018."

          • 12:19:22 PM

            MR. COLLINS

            BY DIRECTION OF THE COMMITTEE ON RULES I CALL UP RESOLUTION 736 AND ASK…

            BY DIRECTION OF THE COMMITTEE ON RULES I CALL UP RESOLUTION 736 AND ASK FOR ITS CONSIDERATION. CLE

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          • 12:19:29 PM

            THE CLERK

            HOUSE CALENDAR NUMBER 126, HOUSE RESOLUTION 736, RESOLVED, THAT AT ANY…

            HOUSE CALENDAR NUMBER 126, HOUSE RESOLUTION 736, RESOLVED, THAT AT ANY TIME AFTER ADOPTION OF THIS RESOLUTION THE SPEAKER MAY, PURSUANT TO CLAUSE 2(B) OF RULE XVIII, DECLARE THE HOUSE RESOLVED INTO THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION FOR CONSIDERATION OF THE BILL, H.R. 620, TO AMEND THE AMERICANS WITH DISABILITIES ACT OF 1990 TO PROMOTE COMPLIANCE THROUGH EDUCATION, TO CLARIFY THE REQUIREMENTS FOR DEMAND LETTERS, TO PROVIDE FOR A NOTICE AND CURE PERIOD BEFORE THE COMMENCEMENT OF A PRIVATE CIVIL ACTION, 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 THE JUDICIARY. AFTER GENERAL DEBATE THE BILL SHALL BE CONSIDERED FOR AMENDMENT UNDER THE FIVE-MINUTE RULE. THE BILL SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST PROVISIONS IN THE BILL ARE WAIVED. NO AMENDMENT TO THE BILL SHALL BE IN ORDER EXCEPT THOSE PRINTED IN PART A 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. 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. SECTION 2. UPON ADOPTION OF THIS RESOLUTION IT SHALL BE IN ORDER TO CONSIDER IN THE HOUSE THE BILL, H.R. 3299, TO AMEND THE REVISED STATUTES, THE HOME OWNERS' LOAN ACT, THE FEDERAL CREDIT UNION ACT, AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE RATE OF INTEREST ON CERTAIN LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOAN, AND FOR OTHER PURPOSES. ALL POINTS OF ORDER AGAINST CONSIDERATION OF THE BILL ARE WAIVED. THE BILL SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST PROVISIONS IN THE BILL ARE WAIVED. THE PREVIOUS QUESTION SHALL BE CONSIDERED AS ORDERED ON THE BILL AND ON ANY AMENDMENT THERETO TO FINAL PASSAGE WITHOUT INTERVENING MOTION EXCEPT ONE, ONE HOUR OF DEBATE EQUALLY DIVIDED AND CONTROLLED BY THE CHAIR AND RANKING MINORITY MEMBER OF THE COMMITTEE ON FINANCIAL SERVICES; AND TWO, ONE MOTION TO RECOMMIT. SECTION 3. UPON ADOPTION OF THIS RESOLUTION IT SHALL BE IN ORDER TO CONSIDER IN THE HOUSE THE BILL, H.R. 3978, TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO MODIFY REQUIREMENTS RELATED TO MORTGAGE DISCLOSURES, AND FOR OTHER PURPOSES. ALL POINTS OF ORDER AGAINST CONSIDERATION OF THE BILL ARE WAIVED. AN AMENDMENT IN THE NATURE OF A SUBSTITUTE CONSISTING OF THE TEXT OF RULES COMMITTEE PRINT 115-59, MODIFIED BY THE AMENDMENT PRINTED IN PART B OF THE REPORT OF THE COMMITTEE ON RULES ACCOMPANYING THIS RESOLUTION, SHALL BE CONSIDERED AS ADOPTED. THE BILL, AS AMENDED, SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST PROVISIONS IN THE BILL, AS AMENDED, ARE WAIVED. THE PREVIOUS QUESTION SHALL BE CONSIDERED AS ORDERED ON THE BILL, AS AMENDED, AND ON ANY FURTHER AMENDMENT THERETO, TO FINAL PASSAGE WITHOUT INTERVENING MOTION EXCEPT ONE, ONE HOUR OF DEBATE EQUALLY DIVIDED AND CONTROLLED BY THE CHAIR AND RANKING MINORITY MEMBER OF THE COMMITTEE ON FINANCIAL SERVICES; TWO, THE FURTHER AMENDMENT PRINTED IN PART C OF THE REPORT OF THE COMMITTEE ON RULES, IF OFFERED BY THE MEMBER DESIGNATED IN THE REPORT, WHICH SHALL BE IN ORDER WITHOUT INTERVENTION OF ANY POINT OF ORDER, SHALL BE CONSIDERED AS READ, SHALL BE SEPARATELY DEBATABLE FOR THE TIME SPECIFIED IN THE REPORT EQUALLY DIVIDED AND CONTROLLED BY THE PROPONENT AND AN OPPONENT , AND SHALL NOT BE SUBJECT TO A DEMAND FOR DIVISION OF THE QUESTION; AND, TWO, ONE MOTION TO RECOMMIT WITH OR WITHOUT INSTRUCTIONS. SECTION 4. ON ANY LEGISLATIVE DAY DURING THE PERIOD FROM FEBRUARY 16, 2018, THROUGH FEBRUARY 23, 2018 (A) THE JOURNAL OF THE PROCEEDINGS OF THE PREVIOUS DAY SHALL BE CONSIDERED AS APPROVED; AND (B) THE CHAIR MAY AT ANY TIME DECLARE THE HOUSE ADJOURNED TO MEET AT A DATE AND TIME, WITHIN THE LIMITS OF CLAUSE 4, SECTION 5, ARTICLE I OF THE CONSTITUTION, TO BE ANNOUNCED BY THE CHAIR IN DECLARING THE ADJOURNMENT. SECTION 5. THE SPEAKER MAY APPOINT MEMBERS TO PERFORM THE DUTIES OF THE CHAIR FOR THE DURATION OF THE PERIOD ADDRESSED BY SECTION 4 OF THIS RESOLUTION AS THOUGH UNDER CLAUSE 8(A) OF RULE I.

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      • 12:24:12 PM

        DEBATE

        The House proceeded with one hour of debate on H. Res. 736.

        • 12:24:19 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM GEORGIA IS RECOGNIZED FOR ONE HOUR.

        • 12:24:22 PM

          MR. COLLINS

          TORE THE PURPOSES OF DEBATE ONLY I YIELD 30 MINUTES TO THE GENTLEMAN FROM…

          TORE THE PURPOSES OF DEBATE ONLY I YIELD 30 MINUTES TO THE GENTLEMAN FROM COLORADO, MR. POLIS, PENDING WHICH I YIELD MYSELF I MAY CONSUME. ALL TIME IS YIELDED FOR THE PURPOSES OF DEBATE ONLY. MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT ALL MEMBERS MAY HAVE FIVE LEGISLATIVE DAYS TO REVISE AND EXTEND THEIR REMARKS AND INCLUDE MATERIAL ON THE BILL UNDER CONSIDERATION.

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        • 12:24:47 PM

          THE SPEAKER PRO TEMPORE

          WITHOUT OBJECTION.

        • 12:24:48 PM

          MR. COLLINS

          WITHOUT OBJECTION.

        • 12:34:11 PM

          THE SPEAKER PRO TEMPORE

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

          THE GENTLEMAN FROM GEORGIA RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM COLORADO IS RECOGNIZED.

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        • 12:34:15 PM

          MR. POLIS

          I THANK THE GENTLEMAN FOR YIELDING ME THE CUSTOMARY 30 MINUTES. I YIELD…

          I THANK THE GENTLEMAN FOR YIELDING ME THE CUSTOMARY 30 MINUTES. I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

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        • 12:34:20 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN IS RECOGNIZED.

        • 12:34:22 PM

          MR. POLIS

          MR. SPEAKER, TODAY SADLY WE FIND OURSELVES CONSIDERING LEGISLATION THAT…

          MR. SPEAKER, TODAY SADLY WE FIND OURSELVES CONSIDERING LEGISLATION THAT WOULD ACTUALLY MAKE IT EASIER FOR SCRUPULOUS PAYDAY LERNSD TO SKIRT STATE INTEREST RATE CAPS. ANOTHER BILL THAT GUTS THE ENFORCEMENT OF THE AMERICANS WITH DISABILITIES ACT THAT PUTS AN UNFAIR BURDEN ON PEOPLE WITH DISABILITIES. THESE BILLS HURT THE AMERICAN PEOPLE. INSTEAD OF SPENDING OUR TIME HERE DEBATING VERY IMPORTANT IMMIGRATION BILL LIKE THE SENATE IS DOING ACROSS THE WAY, INSTEAD WE'RE CONSIDERING BILLS THAT WILL ONLY HARM OUR MOST VULNERABLE POPULATIONS. ON THE OTHER SIDE OF THE CAPITAL, THE SENATE IS HAVING AN OPEN DEBATE ABOUT IMMIGRATION IN OUR COUNTRY. THIS HOUSE OWES THE AMERICAN PEOPLE NO LESS. THE SENATE IS TRYING TO FIND SOLUTIONS TO HELP HUNDREDS OF THOUSANDS OF DACA RECIPIENTS TO IMPROVE BORDER SECURITY, TO ADDRESS FAMILY REUNIFICATION. THE SENATE'S DEBATING DIFFERENT PROPOSALS FROM BOTH SIDES OF THE AISLE. WE'LL SEE WHAT THEY COME UP WITH. AGAIN, THIS HOUSE IS SIMPLY NOT DOING ITS JOB. THIS HOUSE IS DOING NOTHING TO IMPROVE BORDER SECURITY, NOTHING TO ADDRESS THE DACA RECIPIENTS, OR FAMILY REREUNIFICATION. OVER HERE THERE'S NOT EVEN A PLAN TO BRING ANY IMMIGRATION BILL OR AMENDMENT TO THE FLOOR. IN FACT, THERE IS NO COMMITMENT AT ALL TO ACTUALLY ADDRESS THE ISSUES OF THE AMERICAN PEOPLE. WE HAVE BIPARTISAN BILLS TODAY THAT SPEAKER RYAN COULD BRING TO THE FLOOR. THEY WOULD PASS WITH PROBABLY 70%, 60% OF THE VOTE. MR. SPEAKER, THE MARCH 5 DEADLINE FOR DACA PROTECTIONS IS RAPIDLY APPROACHING. THERE IS NO PLAN IN PLACE TO PROTECT DREAMERS LIKE ANNA AND MARCOS IN MY DISTRICT. INSTEAD OVER 800,000 YOUNG ADULTS ARE TRYING TO SEE WHAT HAPPENS NEXT. HOPING THE COURT SYSTEM INTERVENES. HOPING SOMEBODY SOMEWHERE DOES SOMETHING SO THEY CAN CONTINUE TO WORK LEGALLY IN THE ONLY COUNTRY THEY KNOW. THE COUNTRY THEY CALL HOME, THE UNITED STATES OF AMERICA. I HAVE OFFERED THE DREAM ACT AS AN AMENDMENT TO EVERY SPENDING BILL THAT'S COME THROUGH RULES COMMITTEE. I'LL CONTINUE TO DO SO UNTIL WE FINALLY GET IT DONE. BUT AGAIN INSTEAD OF BRINGING UP A BILL TO HELP PROTECT DREAMERS BEFORE THE SELF-TRUMP IMPOSED MARCH 5 DEADLINE, THE HOUSE WILL CONSIDER LEGISLATION THAT UNDERMINES THE CIVIL RIGHTS OF DISABLED AMERICANS AND ALSO MAKES IT EASIER FOR PREDATORY LENDERS TO EVADE CONSUMER PROTECTION LAWS. PEOPLE WONDER WHY THE HOUSE OF REPRESENTATIVES IS AS UNPOPULAR AS IT IS. H.R. 3299, THE 3299, THE PROTECTING CONSUMER ACCESS TO CREDIT, IS A BILL THAT HURTS CONSUMERS. IT'S ONE THAT MAKES IT EASIER FOR PAYDAY LENDERS TO EVADE WELL THOUGHT OUT STATE LEVEL PROTECTION LAWS. THAT'S WHY OVER 200 NATIONAL AND STATE ORGANIZATIONS HAVE WRITTEN IN OPPOSITION TO THE BILL. WHICH THEY FEAR WOULD OPEN THE FLOODGATES TO PREDATORY LENDING WITH INTEREST RATES AS HIGH AS 300%. 20 STATE ATTORNEYS GENERAL HAVE ALSO WRITTEN IN OPPOSITION. MR. SPEAKER, I ASK UNANIMOUS CONSENT TO ERNT THESE LETTERS INTO THE RECORD.

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        • 12:37:22 PM

          PORE WITHOUT

          WITHOUT OBJECTION, SO ORDERED.

        • 12:37:23 PM

          MR. POLIS

          STATES CAN AND DO LIKE MY STATE OF COLORADO PUT LIMITATIONS ON THE…

          STATES CAN AND DO LIKE MY STATE OF COLORADO PUT LIMITATIONS ON THE INTEREST RATES OF INSTALL LOANS ISSUED BY NONBANKS. BARNINGS, OTHER, HAVE THE PREEMPTION OF STATE INTEREST RATE CAPS THROUGH THE NATIONAL BANK ACT. IN ORDER TO GET AROUND STATE INTEREST RATE CAPS, PAYDAY LENDERS OFTEN USE A BANK TO ORIGINATE A LOAN AT A HIGHER INTEREST RATE, BUT THE NONBANK DESIGNS A LOAN PROVIDES FUNDING FOR THE LOAN, SERVICES THE LOAN, AND GUARANTEES ANY LOSSES THE BANK INCURS. IN ALL BUT A NAME IT IS A NONBANK ENTITY. THE PAYDAY LENDER IS THE DE FACTO LENDER. THE PANG IS SIMPLY A NOMINAL PARTICIPANT TO EVADE REGULATIONS. THESE ARE REFERRED TO AS RENT THE CHARTER SCHEMES. THEY ARE NOT NEW. IN THE EARLY 2000ED FEDERAL BANKING REGULATORS SHUT DOWN SEVERAL OF THESE ARRANGEMENTS BETWEEN NATIONAL BANKS AND NONBANK LENDERS. BANKS MAY NOT RUN OUT THEIR CHARTERS TO THIRD PARTIES. RIGHT NOW OUR FEDERAL BANKING REGULATIONS ARE ABLE TO CONSTAIN THE KEEPS. THIS LEGISLATION WOULD UNDERMINE OUR ABILITY TO STOP ABUSIVE AND PREDATORY PRACTICES. STATES ARE LEADING THE EFFORT TO STOP ABUSIVE LENDING PRACTICES OF THE IN MY HOME STATE OF COLORADO THERE IS A LAWSUIT CHALLENGING THIS SCHEME. NOW THAT THE NEW DIRECTOR OF THE CONSUMER FINANCIAL PROTECTS CURE ROJAS DELAYED A FINAL RULE THAT WOULD HELP PROTECT BORROWERS, IT'S UP TO THE STATES TO PROTECT CONSUMERS. THIS BILL WOULD MAKE IT HARDER THIS. BILL WOULD CRIPPLE STATES LIKE COLORADO'S EFFORTS TO STOP PREDATORY LEND INTERESTING PLAYING ON THEIR CITIZENS. THE REPUBLICAN -- PREYING ON THEIR CITIZENS. THE REPUBLICAN ASSAULT ON STATES' RIGHTS HAS GONE FROM BAD TO WORSE. THIS IS ANOTHER PART OF THE BIG GOVERNMENT REPUBLICAN WAR ON CONSUMERS ACROSS THE COUNTRY, PREEMPTING STATES' RIGHTS FOR WASHINGTON, D.C. CONTROL. IT SEEMS LIKE THE REPUBLICANS WANT TO CONTROL EVERYTHING FROM WASHINGTON. AND THAT'S WHY WE NEED TO MAKE SURE OUR STATES ARE EMPOWERED TO HAVE THE ABILITY THEY NEED TO REACT TO PROTECT CONSUMERS AND OUR LAW. LATELY THERE'S BEEN AN INCREASED FOCUS ON FENTEK COMPANIES. I AM A BIG SUPPORTER OF FINANCIAL INNOVATION, BUT WE CAN'T DO THAT AT THE EXPENSE OF CONSUMERS OR HIGH COST OF PUTTING CONSUMERS INTO A CYCLE DEBT WHICH ENDS BADLY. WHY ARE WE CONSIDERING LEGISLATION THAT WOULD PUT THE POWER IN WASHINGTON, D.C., AND TAKE AWAY STATE LEVEL PROTECTIONS FOR CONSUMERS? WE SHOULD BE FINDING WAYS TO INCREASE ACCESS TO AFFORDABLE CREDIT. MAKE IT EASIER FOR CONSUMERS TO ACCESS THE FINANCIAL SERVICES RATHER THAN TRYING TO FORCE A REPUBLICAN WASHINGTON SOLUTION ON ALL THE STATES ACROSS OUR COUNTRY. WE'RE CONSIDERING THIS BILL UNDER A CLOSED RULE. THERE IS ONLY ONE AMENDMENT FILED TO THIS BILL AND IT'S NOT EVEN ALLOWED TO BE DEBATED NO LESS VOTED ON. I WANT TO TALK ABOUT THE OTHER BILL UNDER THIS RULE. H.R. 3978, THE TRID IMPROVEMENT ACT, WHICH IS A PACKAGE OF SEVERAL BILLS THAT CAME OUT OF THE HOUSE FINANCIAL SERVICES COMMITTEE, SOME OF WHICH ARE MORE CONTROVERSIAL THAN OTHERS. TITLE 1 OF THE PACKAGE WAS REPORTED OUT BY A 53-5 VOTE. ALL THE REPUBLICANS AND DEMOCRATS SUPPORTED TIGHTAL 5 OF THE PACKAGE. ELIMINATING BARRIERS TO JOBS FOR LOAN ORIGINATORS. I SUPPORT TITLE 2, THE PROTECTION OF SOURCE CODE ACT THAT'S BEING INCLUDED. I CLS SUPPORT REPRESENTATIVE FOSTER'S AM WHICH WOULD PROVIDE ADDITIONAL CLARIFICATION. THE PROBLEM IS IT TAKES SEVERAL BILLS THAT HAVE BIPARTISAN SUPPORT, COMBINES THEM WITH OTHER BILLS THAT SHOULD BE CONSIDERED SEPARATELY, WHICH IS FORCING DEMOCRATS AND REPUBLICANS TO WEIGH THE PACKAGE AS A WHOLE. WE SIMPLY CAN'T KNOW THE RAMIFICATIONS OF CONSIDERING ALL THESE BILLS AT THE SAME TIME. ESPECIALLY WHEN THEY HAVEN'T HAD HEARINGS ON THE INDIVIDUAL COMPONENTS. TIMELY, H.R. 620, THE A.D.A. EDUCATION AND REFORM ACT MANY WAYS THE MOST DAMAGING BILL THAT'S DISCUSSED UNDER THIS RULE, WE ARE CELEBRATING THE AMERICAN WITH THE DISABILITIES ACT. SIGNED INTO LAW 28 YEARS AGO TO ALLOW AMERICANS WITH DISABILITIES TO HAVE EVERY KIND OF OPPORTUNITY THAT EVERYBODY ELSE DOES. FREE FROM DISCRIMINATION IN THE WORKPLACE AND SCHOOLS AND TRANSPORTATION. IT WAS A LANDMARK BIPARTISAN EFFORT. TITLE 3 OF THE AMERICAN WITH DISABILITIES ACT PROHIBITS PLACES OF PUBLIC ACCOMMODATION FROM DISCRIMINATING AGAINST INDIVIDUALS WITH DISABILITIES AND SETS A MINIMUM REASONABLE STANDARD FOR ACCESSIBILITY. WHICH HAS BEEN THE LAW OF OUR LAND FOR THREE DECADES. H.R. 620 WOULD MAKE IT MORE DIFFICULT FOR PEOPLE WITH DISABILITIES TO HAVE THEIR RIGHTS GUARANTEED UNDER THE AMERICANS WITH DISABILITIES ACT. UNDER THIS BILL, INSTEAD OF REQUIRING THE PUBLIC ESTABLISHMENT TO COMPLY WITH THE A.D.A., THE BURDEN WOULD SHIFT TO THE VICTIM OF THE DISCRIMINATION TO PROVE A VIOLATION HAS OCCURRED. YOU'RE FORCING DISABLED AMERICANS TO GO AROUND WITH CLIP BOARDS AND INSPECTOR GOGGLES RATHER THAN FORCING BUSINESSES TO COMPLY. IT'S SIMPLY NOT FAIR. IT'S BEEN NEARLY THREE DECADES SINCE THE AMERICANS WITH DISABILITIES ACT WAS SIGN INTO LAW. ALL TITLE 3 OF THE A.D.A. ACT REQUIRES IS BUSINESSES MAKE THEIR FACILITIES ACCESSIBLE TO THE EXTENT IT'S READILY ACHIEVABLE. A VERY REASONABLE BURDEN UNDER THE LAW. AND BUSINESSES FLOURISHED OVER THE LAST THREE DECADES. WE HAVE HAD CONTINUED ECONOMIC GROWTH. I HAVE HEARD FROM SO MANY OF MY CONSTITUENTS ABOUT THIS BILL, INCLUDING CARY BROWN, ASSISTANT ADVOCACY SPECIALIST, SERVING DISABLED RESIDENTS. SHE SAID, QUOTE, THE STANDARDS SET FORTH IN THE A.D.A. ARE DESIGNED TO ENSURE PEOPLE WITH DISABILITIES CAN ACCESS BASIC PUBLIC ACOME CAN DAYSES. REQUIRING THEM TO FILE A COMPLAINT TO ENFORCE COMPLIANCE OF A 28-YEAR-OLD LAW IS A STEP BACKWARDS. END QUOTE. I THINK CAN ACCESS BASIC THIS REPUBLICAN PLAN TO TURN EVERYBODY WITH KISS ABLED AN ATTORNEY BECAUSE THAT'S WHAT THEY NEED TO BE TO ASSERT THE RIGHTS THEY HAVE UNDER THE LAW. THEY ARE SIGNIFICANT IF NOT UNIVERSAL OPPOSITION TO H.R. 620 FROM HEALTH AND DISABILITY ADVOCACY GROUPS. INCLUDING EPILEPSY FOUNDATION, NATIONAL COUNCIL ON DISABILITIES, ASOCIAL -- AMERICAN ASSOCIATION OF PEOPLE WITH DISABILITIES. WE NEW, MR. SPEAKER, THIS PRESIDENT HAS MOCKED AND TAKEN ON AMERICANS WITH DISABILITIES. I THOUGHT IT WAS ABOVE THE REPUBLICANS IN CONGRESS TO JOIN PRESIDENT TRUMP. IN ASSAULTING THE RIGHTS OF THOSE WITH DISABILITIES. H.R. 620 WILL NOT ALLOW PEOPLE WITH DISABILITIES TO IMMEDIATELY FILE A.D.A. VIOLATION, DENYING ACCESS TO BUILDINGS DUE TO A LENGTHY LEGAL PROCESS. WHO HAS TIME TO WAIT SEVERAL YEARS TO ACCESS A BUILDING YOU NEED TO BE IN BECAUSE OF YOUR JOB. IT SIMPLY DOESN'T MAKE SENSE. THAT MEANS PEOPLE WITH DISABILITIES WILL WAIT WEEKS, MONTHS, OR YEARS JUST TO GAIN THE ACCESS THAT IS REQUIRED UNDER LAW. FOR BUSINESSES, THERE'S SIMPLY NO INCENTIVE TO ADHERE TO A.D.A. GUIDELINES. ALL OF THIS COMBINED HARMS DISABLED AMERICANS AND WEAKENS LEGAL PROTECTIONS THAT FOR DECADES REPUBLICANS AND DEMOCRATS HAVE BEEN PROUD OF IN THE AMERICANS WITH DISABILITIES ACT. I RESERVE THE BALANCE OF MY TIME.

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        • 12:44:14 PM

          TEMPORE MEMBERS

          MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIES OR PERSONAL…

          MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIES OR PERSONAL REMARKS TOWARD THE PRESIDENT. THE GENTLEMAN FROM COLORADO RESERVES. THE GENTLEMAN FROM GEORGIA IS RECOGNIZED.

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        • 12:44:20 PM

          MR. COLLINS

          THANK YOU, MR. SPEAKER. I THINK OF THE THINGS, THERE ARE A LOT OF THINGS…

          THANK YOU, MR. SPEAKER. I THINK OF THE THINGS, THERE ARE A LOT OF THINGS WE CAN AGREE ON AND DISAGREE ON O, ONE OF THE THINGS FROM MY POSITION, ESPECIALLY WITH A DAUGHTER WHO HAS -- THIS IS NOT AN INSULT TO DISABILITIES. IT'S KEEPING THEM FROM BEING ABUSED AND USED BY FOLKS WHO DON'T EVEN HAVE DISABILITIES AND ASKING FOR MONEY AND NOT CARING IF THE ISSUE GETS FIXED OR NOT. AT THE END OF THE DAY WHICH WOULD SOMEBODY RATHER HAVE? A PERSON IN A WHEELCHAIR HAVE SOMETHING FIXED OR PAY AN ATTORNEY? PUT THIS IN CONTEXT OF WHAT IT IS. WITH THAT, MR. SPEAKER, I'M HAPPY TO YIELD AS MUCH TIME AS HE MAY CONSUME TO THE CHAIRMAN FROM CALIFORNIA, MR. ROYCE.

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        • 12:44:56 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM CALIFORNIA, MR. ROYCE, IS RECOGNIZED.

        • 12:45:00 PM

          MR. ROYCE

          THANK YOU, MR. SPEAKER. I'M RISING IN STRONG SUPPORT OF THE RULE. ON THE…

          THANK YOU, MR. SPEAKER. I'M RISING IN STRONG SUPPORT OF THE RULE. ON THE UNDERLYING BILL. INCLUDED IN THIS PACKAGE OF BILLS BEFORE US TODAY IS THE NATIONAL SECURITIES EXCHANGE REGULATORY PARITY ACT. THIS IS A BIPARTISAN BILL. AND IT'S TO ENSURE FUTURE REGULATION CAN KEEP PACE AND NOT STIFLE INNOVATION IN OUR EQUITY MARKETS. THE S.E.C.'S INTERPRETATION OF THE CURRENT LAW CREATED A TWO-TIER PLAYING FIELD BY GIVING TREATMENT TO THREE NAMED EXCHANGESES. ENACTMENT OF THE SECURITIES EXCHANGE PARITY ACT RELATES TO THE 33 SECURITIES ACT AND THE BILL WOULD MAKE IT CLEAR THAT THE BLUE SKY EXEMPTION BY STATE-BY-STATE REGISTRATION IS EXTENDED TO ALL NATIONAL SECURITIES EXCHANGES REGISTERED WITH THE S.E.C. WHY IS THAT PARTICULAR EXEMPTION IMPORTANT? IF YOU WERE TO ASK ANYONE FROM MASSACHUSETTS, FOR EXAMPLE, WHO TRIED TO INVEST IN APPLE DURING ITS I.P.O., STATE RATHEORS BAND -- REGULATEORS BANNED THE STOCK THAT DIDN'T HAVE SOLID EARNINGS FOUNDATIONS. TODAY APPLE IS UP 43,000% AND FLIRTING WITH A MARKET CAP. THE BILL BEFORE US TODAY INCREASES THE NUMBER OF SECURITIES THAT WILL NOT BE FORCED TO REGISTER ON A STATE-BY-STATE BASIS WHILE MAINTAINING IMPORTANT INVESTOR PROTECTIONS. THE S.E.C. AND WILL REMAIN THE PRIMARY ENFORCEMENT AGENCY OF SECURITIES FRAUD. THIS BILL DOESN'T IMPACT THE OVERSIGHT OR ENFORCEMENT AUTHORITY. THE S.E.C. MUST APPROVE INDIVIDUAL EXCHANGE LISTING STANDARDS. THEY WON'T BE ALLOWED TO PRE-SET THE STANDARDS. STATE BY STATE SECURITIES REGULATION NOT ONLY POTENTIAL INVESTORS FROM PROMISING OPPORTUNITIES LIKE APPLE, BUT IT CAN HAVE SIGNIFICANT NEGATIVE ECONOMIC CONSEQUENCES BY CHILLING PUBLIC OFFERINGS AND OBVIOUS INNOVATION. THE NATIONAL SECURITIES EXCHANGE PARITY ACT INCLUDES THEM TO BE LISTING VENUES AND SOURCE OF CAPITAL FOR COMPANIES LOOKING TO EXPAND AND HIRE MORE WORKERS. THE BILL IS IDENTICAL TO LANGUAGE INCLUDED IN THE LARGER REGULATORY PACKAGE ALREADY PASSED BY THE SENATE BANKING COMMITTEE. I URGE MY COLLEAGUES TO SUPPORT THIS COMMONSENSE TECHNICAL FIX AND GOOD FOR MARKET COMPETITION. IT'S GOOD FOR CAPITAL FORMATION AND I URGE PASSAGE OF THE RULE AND THE UNDERLYING BILL AND WITH THAT, MR. SPEAKER, I YIELD BACK.

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        • 12:48:09 PM

          TH SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM CALIFORNIA YIELDS BACK. THE GENTLEMAN FROM COLORADO IS…

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

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        • 12:48:14 PM

          MR. POLIS

          I WOULD LIKE TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM RHODE ISLAND, MR.…

          I WOULD LIKE TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM RHODE ISLAND, MR. LANGEVIN.

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        • 12:48:19 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM RHODE ISLAND IS RECOGNIZED FOR FIVE MINUTES.

        • 12:48:25 PM

          MR. LANGEVIN

          I WANT TO THANK THE GENTLEMAN FOR YIELDING. MR. SPEAKER. AS THE FIRST QUAD…

          I WANT TO THANK THE GENTLEMAN FOR YIELDING. MR. SPEAKER. AS THE FIRST QUAD PLIEGEIC ELECT TODD CONGRESS I'M NOT HERE JUST AS A MEMBER OF CONGRESS BUT SOMEONE HERE WITH A DISABILITY. AND I HOPE PROVIDING A VOICE FOR SO MANY IN OUR COUNTRY THAT ALSO HAVE DISABILITIES TO GIVE MY PERSPECTIVE ON H.R. 620 THE MISNAMED A.D.A. REFORM ACT. THE AMERICAN DISABILITIES ACT WAS PASSED NEARLY 30 YEARS AGO AS AN ENDURING PROMISE TO A LARGE POPULATION OF AMERICANS THAT DISCRIMINATION INCLUDEING ACCESS TO PUBLIC ACCOMMODATIONS WILL NOT BE TOLERATED. NOW THERE HAVE BEEN DECADES FOR PEOPLE AND ORGANIZATIONS TO UNDERSTAND AND IMPLEMENT PROVISIONS OF THE A.D.A. AND FOR THOSE WHO ARE JUST LEARNING ABOUT THE A.D.A. OR WHO NEED A REFRESHER ON THE LAW, THERE ARE MANY RESOURCES THAT PROVIDE INFORMATION AND TECHNICAL ASSISTANCE. THE A.D.A. PROVIDES A LIFELINE TO SO MANY WHO NEED ACCESS TO CLASSROOMS, REST ROOMS, BUSINESSES, RESTAURANTS, TRANSIT AND SO MUCH MORE. AND I RECOGNIZE THAT THERE ARE SOME INDIVIDUALS WHO ARE UNFAIRLY TARGETED IN STATES THAT HAVE FAILED TO PROTECT AGAINST THINGS LIKE THESE DRIVE-BY LAWSUITS. BUT THE ROOT OF THE PROBLEM IS NOT THE A.D.A., IT'S THE UNSCRUPULOUS LAWYERS WHO TAKE ADVANTAGE OF THE LAW. NOW THE A.D.A. DOES NOT ALLOW PEOPLE TO SUE FOR COMPENSATORY OR PUNITIVE DAMAGES, ONLY INJUNKTIVE RELIEF, MEANING THAT YOU SOLVE THE PROBLEM. H.R. 620 DOES NOTHING TO ADDRESS THE PROBLEM HAPPENING AT THE STATE LEVEL, NOR DOES IT TARGET IMMORAL LAWYERS. INSTEAD ITASAKA CRY FILESES THE RIGHTS OF MILLIONS BY REDUCING THE IMPACT AND PROTECTIONS OF THE A.D.A. WHICH SO MANY HAVE COME TO DEPEND ON. HOW NOW IT DOES SO BY CREATING A NOTICE AND CURE REGIME THAT WILL CREATE A A DISINCENTIVE FOR A.D.A. COMPLIANCE. A WRITTEN NOTICE THAT GIVES 60 DAYS TO ACKNOWLEDGE RECEIPT OF A COMPLAINT AND THEN 120 DAYS TO DEMONSTRATE AND I QUOTE SUBSTANTIAL PROGRESS, END QUOTE, IN THE REMOVAL OF AN OBSTRUCTION IGNORES THE A.D.A. THAT SUPPORT A RIGHT TO INCLUSION AND RESPECT AND IT TELLS PEOPLE WITH DISABILITIES THAT WE ARE NOT WORTHY OF INCLUSION UNTIL SOMEONE IS CAUGHT AND EVEN THEN, A REMEDY IS NOT GUARANTEED. MR. SPEAKER, I AM GRATEFUL THAT THE RULES COMMITTEE CHOSE TO MAKE IN ORDER THE BIPARTISAN AMENDMENT THAT I WILL OFFER WITH MY COLLEAGUE AND CO-CHAIR OF THE BIPARTISAN DISABILITIES CAUCUS, REPRESENTATIVE GREG HARPER, BUT TO BE FRANK, THIS BILL SHOULD NEVER HAVE BEEN REPORTED OUT OF THE JUDICIARY COMMITTEE IN THE FIRST PLACE, MUCH LESS TO THE FLOOR. H.R. 620, MR. SPEAKER, IS A BLUNT TOOL THAT WRONGFULLY IMPEDES THE RIGHT OF PEOPLE WITH DISABILITIES. H.R. 620 -- IF H.R. 620 PASSES WITH ANY KIND OF NOTICE AND CURE PERIOD, WE WILL RETURN TO THE DAYS WHEN DISCRIMINATION WAS COMMONPLACE AND WILL BE BECAUSE ELECTED OFFICIALS VOTESED TO REMOVE CIVIL RIGHTS INSTEAD OF PROTECTING THEM. THANK YOU, MR. SPEAKER, AND I YIELD BACK.

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        • 12:52:13 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM RHODE ISLAND YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS…

          THE GENTLEMAN FROM RHODE ISLAND YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS RECOGNIZED.

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        • 12:52:18 PM

          MR. COLLINS

          IT'S MY PLEASURE TO YIELD AS MUCH TIME AS HE MAY CONSUME TO MY COLLEAGUE…

          IT'S MY PLEASURE TO YIELD AS MUCH TIME AS HE MAY CONSUME TO MY COLLEAGUE FROM ARKANSAS, MR. HILL.

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        • 12:52:26 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM ARKANSAS IS RECOGNIZED.

        • 12:52:30 PM

          MR. HILL

          I APPRECIATE THE OPPORTUNITY TO COME BEFORE THE HOUSE DURING THIS RULES…

          I APPRECIATE THE OPPORTUNITY TO COME BEFORE THE HOUSE DURING THIS RULES DEBATE ON THIS PACKAGE OF BIPARTISAN BILLS THAT HAVE BEEN WORKED ON FOR TWO CONGRESSES NOW. AND THAT ADDRESS A NUMBER OF ISSUES THAT I THINK MEMBERS ON BOTH SIDES OF THE AISLE AND OUR COMMITTEE RECOGNIZED WOULD IMPROVE THE CAPITAL MARKET SYSTEM, IMPROVE ACCESS TO CAPITAL FOR BUSINESS AND CONSUMERS AND ALSO REDUCE THE RED TAPE, THE BUREAUCRACY ASSOCIATED WITH TRYING TO RUN A COMMUNITY BANK, PROVIDE SERVICES TO OUR CONSUMERS AND OUR -- BOTH BUSINESS AND FAMILIES. THAT HAS BEEN MADE SO CHALLENGING SINCE THE PASSAGE OF THE DODD-FRANK ACT ALMOST EIGHT YEARS AGO. I WAS COMING TO WASHINGTON YESTERDAY AND I WAS READ INTHE WEEKEND BUSINESS SECTION AND THERE WAS A STORY THERE ABOUT RICHARD GRIFFIN FROM CRAWFORD ARKANSAS WHO OWNED A COMMUNITY BANK THERE FOR DECADES, $30 MILLION BANK AND HE SAID WITH HIS 13 EMPLOYEES HE JUST COULDN'T COMPLY WITH THE LEVEL OF REGULATORY BURDEN FOLLOWING DODD-FRANK THAT WAS SO GEARED TO OUR BIGGEST FINANCIAL INSTITUTIONS, OUR MOST COMPLEX FINANCIAL INSTITUTIONS. COMPANIES LIKE THOSE HEAD QUARTERERED UP IN NEW YORK AND HE FELT COMPELLED TO LEAVE THAT BUSINESS, THE LOCAL BOARD OF DIRECTORS AND TURN IT OVER TO AN OUT-OF-STATE COMPANY. AND CRAWFORD, ARKANSAS IS A GOOD TOWN AND DESERVES A GOOD BANKING PRESENCE, HOME TO GEORGIA PACIFIC AND ALL OF THEIR ACTIVITIES THERE. SO THESE BILLS, MR. SPEAKER, ARE AS I SAY BIPARTISAN AND THEY ARE NEEDED ACROSS THIS COUNTRY. AND LET ME JUST TOUCH ON A FEW OF THEM. THE ONES THAT I THINK PROVIDE THE MOST BENEFIT TO COMMUNITY BANKERS AND BUSINESSES AND CUSTOMERS OF THOSE LOCAL BANKS ARE FIRST OF ALL, MR. STIVERS' BILL, WHICH ELIMINATES A WELL INTENDED LICENSING PROVISION IF YOU WANTED TO MAKE MORTGAGE LOANS AFTER THE 2008 CRISIS, CONGRESS THOUGHT IT WAS A GOOD IDEA TO MAKE SURE MORTGAGE LENDERS WERE QUALIFIED, SO THEY MADE THEM GET A LICENSE. WE CAN DEBATE WHETHER THAT WAS TOO MUCH WORK OR NOT OR WHETHER IT WAS WORTH WHILE OR NOT. THEY MADE BANKS GET IT AND NONBANKS. IN THIS BILL, MR. STIVERS SAID IF YOU ARE GOING TO CHANGE JOBS AND HOLD A MORTGAGE LICENSE, THAT YOU JUST HAVE A TRANSITION PERIOD WHERE YOU DON'T HAVE TO REQUALIFY FOR THAT IF YOU ARE GOING TO WORK FOR A NONBANK OR WORK FOR SOMEBODY IN ANOTHER STATE. IT ONLY PASSED OUR COMMITTEE 60-0. IT DOESN'T GET MUCH MORE BIPARTISAN THAN THAT. THAT WILL HELP BAVERAGES REMOVE RED TAPE, RECRUIT LOAN OFFICERS AND GETTING THEM TO WORK FASTER SERVING CUSTOMERS. LIKEWISE, THE TRID IMPROVEMENT ACT IS SOMETHING THAT I'VE WORKED ON IN A VARIETY OF WAYS AND IT'S INCLUDED IN THIS PACKAGE. AND IT ALLOWS STATES WHERE YOU CAN BUY BOTH A PERSONAL POLICY FOR YOUR TITLE INSURANCE AS WELL AS THE TITLE COVERAGE FOR CLOSING, SHOW ME THE REAL DISCOUNT. THE REAL IRONY HERE IS WHEN ELIZABETH WARREN WAS A STAFFER AND COLLEGE PROFESSOR, ONE OF HER GOALS FOR THE CFPB WAS SIMPLIFICATION AND TAKE THESE COMPLICATED FORMS AND MAKE IT EASIER TO USE. HERE'S AN EXAMPLE OF THE OPPOSITE. THE NEW TRUTH IN LENDING FORMS FOR REAL ESTATE SETTLEMENTS WAS MADE MORE COMPLICATED. AFTER EIGHT YEARS OF DEALING WITH IT, THIS IS A CLASSIC DIFFERENCE OF TRYING TO MAKE IT SIMPLER. LET'S SHOW THE CONSUMER WHAT THE CLOSING COSTS ARE FOR THEIR TITLE INSURANCE. THIS WILL SPEED MORTGAGE CLOSINGS AND REDUCE ERRORS IN MORTGAGE CLOSINGS AND REDUCE CONSUMER CONFUSION ABOUT THE SO-CALLED KNOW BEFORE YOU OWE RULE. I WOULD ARGUE THIS RULE HAS MADE IT MUCH MORE DIFFICULT TO KNOW WHAT YOU OWE BEFORE YOU BORROW IT. AND THIS IS A SMALL STEP IN IMPROVING THAT. SO THESE THINGS, MR. SPEAKER, HELP OUR COMMUNITY BANKS. AND THERE IS ONE OTHER IN THIS PACKAGE, MR. MCHENRY'S BILL WHICH ALLOWS COMMUNITY BANKS THAT ORIGINATE LOANS, CONSUMER LOANS, COMMERCIAL LOANS THAT ARE SELLING THOSE LOANS TO A NONBANK, A NONBANK SERVICER OR NONBANK PACKAGER TO BE ABLE TO PASS THROUGH THE RATE THAT THEY ORIGINATED THE LOAN FOR. THERE IS A SUPREME COURT CASE THAT SAID THAT YOU CAN'T PASS THROUGH THE RATE AND STATE BANKING LAWS DON'T PREEMPT OUR STATE USERY LAWS FOR THIS KIND OF WORK. I COMMEND MR. MCHENRY BECAUSE THIS PROVIDES LIQUID TO OUR BANKING SYSTEM AND MAKES PRODUCTS MORE ACCESSIBLE AND OUR SMALL COMMUNITY BANKS MORE COMPETITIVE. AND I'LL CLOSE BY JUST TOUCHING ON A COUPLE OF THE OTHER MEASURES THAT I THINK HELP BUSINESSES HELP CAPITAL MARKETS, HELP CAPITAL FLOW. YOU HEARD MR. ROYCE TALK ABOUT HIS BILL THAT WILL HELP CAPITAL MARKETS FLOW AND CREATE PARITYY AMONG OUR EXCHANGES AND LOWERING COSTS FOR COMPANIES WANTING TO GO PUBLIC. RAISE CAPITAL ON THE PUBLIC MARKETS. MR. DUFFY HAS A BILL THAT REQUIRES THE S.E.C. TO ACTUALLY GET A SUBPOENA IF THEY WANT TO GET SOURCE CODE FROM A CAPITAL MARKET PROVIDER, SOMEONE WHO IS MANAGING MONEY, SOMEONE WHO IS OFFERING TO MANAGE PORTFOLIOS OR OFFER A MUTUAL FUND COMPANY. AND THIS IS VERY, VERY HELPFUL. I THINK WHEN YOU WANT TO GET A SECRET SAUCE FOR YOUR BUSINESS AND THE GOVERNMENT WANTS IT, YOU OUGHT TO HAVE A SUBPOENA. THAT'S ALL THIS BILL DOES. IT DOES NTH CHANGE THE RULES ABOUT THAT AND DOESN'T CHANGE ANYTHING OTHER THAN SAYING IF YOU WANT THIS INFORMATION, YOU OUGHT TO GO AND GET A SUBPOENA. AND I BELIEVE THAT WILL IMPROVE CAPITAL FORMATION. SO, MR. SPEAKER, THESE ARE GOOD BILLS AND THESE ARE BIPARTISAN BILLS, THESE ARE BILLS THAT WE WORKED ON FOR TWO CONGRESSES THAT WILL HELP INCREASE ACCESS TO CREDIT, LOWER THE COST OF THAT CREDIT, INCREASE CAPITAL FLOWS TO THE BUSINESS SECTOR TO SUPPORT THE GROWTH THAT THE AMERICAN PEOPLE WANT. AND I APPRECIATE THE RULES COMMITTEE ALLOWING ME TO SPEAK ON THESE BILLS. I APPRECIATE CHAIRMAN HENSARLING PUTTING THEM TOGETHER. AND TO MY FRIENDS ON THE OTHER SIDE, THESE ARE BILLS THAT WENT THROUGH REGULAR ORDER. THESE ARE BILLS THAT ARE BIPARTISAN AND THESE ARE BILLS THAT HAVE SUPPORT OF THE OPPOSITION. WE HAVE PUT THEM TOGETHER IN A BIPARTISAN PACKAGE TODAY UNDER THIS RULE BECAUSE OUR FRIENDS DOWN THE HALL IN THE UNITED STATES SENATE ARE RAPIDLY MOVING A BIPARTISAN PACKAGE OF IMPROVEMENTS FOR OUR CAPITAL MARKETS AND OUR BANKS, SOMETHING THAT WE WANT, SOMETHING WE HAVE WAITED SOME EIGHT YEARS FOR. AND SO THIS ALLOWS US TO WORK BETTER WITH OUR COLLEAGUES OVER IN THE SENATE WHERE 14 DEMOCRATS HAVE PARTNERED WITH THE SENATE BANKING COMMITTEE TO MOVE BIPARTISAN LEGISLATION TO HELP US GROW OUR ECONOMY. I YIELD BACK THE TIME YOU HAVE AFFORDED ME AND I THANK YOU FOR THAT TIME.

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        • 01:00:42 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM ARKANSAS YIELDS BACK. THE GENTLEMAN FROM COLORADO IS…

          THE GENTLEMAN FROM ARKANSAS YIELDS BACK. THE GENTLEMAN FROM COLORADO IS RECOGNIZED. .

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        • 01:00:52 PM

          MR. POLIS

          PRESIDENT TRUMP CONTINUES TO INSIST SOMEHOW DEMOCRATS DON'T CARE ABOUT…

          PRESIDENT TRUMP CONTINUES TO INSIST SOMEHOW DEMOCRATS DON'T CARE ABOUT FIXING DACA. I BEG TO DIFFER. THIS IS THE 22ND TIME WE TRIED TO BRING THE BIPARTISAN BILL, H.R. 3440, THE DREAM ACT, TO THE HOUSE FLOOR FOR A VOTE. WE MADE OUR POSITION CLEAR. WE WANT IMMIGRATION POLICIES THAT REFLECT OUR VALUES THAT MAKE AMERICA SAFER WHILE REALIZING, OF COURSE, THAT WE ARE A NATION BOTH OF LAWS AND OF IMMIGRANTS. YESTERDAY, THE U.S. CHAMBER OF COMMERCE AGAIN URGED CONGRESS TO PASS LEGISLATION THAT PROVIDES PERMANENT RELIEF FOR DREAMERS. EVEN THE CONSERVATIVE CATO INSTITUTE ESTIMATES DEPORTING DREAMERS WILL RESULT IN A $280 BILLION REDUCTION IN ECONOMIC GROWTH OVER THE NEXT DECADE. MR. SPEAKER, IF WE DON'T CARE ABOUT THE FAMILIES, ABOUT THE YOUNG PEOPLE AFFECTED, SURELY, MR. SPEAKER, YOU CARE ABOUT $280 BILLION THAT WILL BE LOST IF REPUBLICANS FAIL TO ACT. PROTECTING THESE ASPIRING AMERICANS IS NOT ONLY THE RIGHT THING TO DO MORALLY, IT'S THE RIGHT THING TO DO FOR OUR COUNTRY AND FOR OUR ECONOMY. IF WE DEFEAT THE PREVIOUS QUESTION TODAY FOR THE 23RD TIME, I WILL OFFER AN AMENDMENT TO THE RULE TO BRING UP H.R. 3440, THE DREAM ACT. THIS BIPARTISAN, BICAMERAL LEGISLATION WOULD FINALLY HELP HUNDREDS OF THOUSANDS OF YOUNG PEOPLE WHO ARE AMERICAN IN EVERY WAY EXCEPT FOR ON PAPER. MR. SPEAKER, I ASK UNANIMOUS CONSENT TO INSERT THE TEXT OF MY AMENDMENT IN THE RECORD ALONG WITH EXTRANEOUS MATERIAL IMMEDIATELY PRIOR TO THE VOTE ON THE PREVIOUS QUESTION.

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        • 01:02:21 PM

          TEMPORE WITHOUT

          TO DISCUSS OUR PROPOSAL, I YIELD THREE MINUTES TO THE GENTLEMAN FROM…

          TO DISCUSS OUR PROPOSAL, I YIELD THREE MINUTES TO THE GENTLEMAN FROM CALIFORNIA, MR. CORREA.

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        • 01:02:27 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED FOR THREE MINUTES.

        • 01:02:29 PM

          MR. CORREA

          THANK YOU, MR. SPEAKER. AGAIN, MR. SPEAKER, I STAND ON THIS FLOOR TO SPEAK…

          THANK YOU, MR. SPEAKER. AGAIN, MR. SPEAKER, I STAND ON THIS FLOOR TO SPEAK ABOUT THE DREAMERS, AND THIS TIME I ASK A SIMPLE QUESTION. WHAT HAPPENED? FOR MONTHS HERE IN WASHINGTON, WE COULDN'T PASS A BUDGET, WE REFUSED TO PASS A BUDGET. NUMEROUS CONTINUING RESOLUTIONS WERE BROUGHT UP. WE EVEN SHUT DOWN GOVERNMENT, AND THE PRESS TALKED ABOUT THE DREAMERS. IT WAS ALL ABOUT THE DREAMERS. YET, LAST WEEK AFTER THE BUDGET SPENDING CAPS WERE RAISED FOR BOTH MILITARY AND NONMILITARY EXPENDITURES, WE GOT A BUDGET. AND THAT WAS A BUDGET THAT WAS VOTED ON BY BOTH DEMOCRATS AND REPUBLICANS. SO I GUESS, LADIES AND GENTLEMEN, THIS WAS NOT ABOUT THE DREAMERS BECAUSE WE STILL DON'T HAVE A FIX FOR THE DREAMERS. YET, 80% OF OUR PUBLIC SUPPORTS A FIX FOR THE DREAMERS. 80% OF OUR PUBLIC SUPPORTS A PATHWAY TO CITIZENSHIP FOR OUR DREAMERS. AND EVEN OUR PRESIDENT WANTS A FIX FOR THE DREAMERS. WHY? BECAUSE ALL OF US RECOGNIZE THAT DREAMERS ARE SOLDIERS, TEACHERS, POLICE OFFICERS, THEY ARE EFFECTIVELY OUR FRIENDS AND OUR NEIGHBORS. YET, HERE WE ARE AGAIN TODAY NOT SURE OF THE FUTURE FOR DREAMERS IN THIS COUNTRY. FOLKS, IT'S TIME TO STOP USING DREAMERS AS POLITICAL PAWNS IN A BIGGER POLITICAL CHESS GAME. LAST WEEK AT THE STATE OF THE UNION, MY GUEST WAS A DREAMER FROM MY DISTRICT. SHE'S A COLLEGE STUDENT MAJORING IN CHEMISTRY, AND I SAY TO ALL OF YOU, SHE IS GOING TO MAKE A TREMENDOUS SCIENTIST. WE NEED SCIENTISTS IN THIS COUNTRY. AS YOU KNOW, AMERICA IS THE LAND OF IMMIGRANTS, AND ALL OF US HERE ARE IMMIGRANTS. AS YOU KNOW, 75 OF OUR FORTUNE 500 COMPANIES ARE LED BY IMMIGRANTS. AND WE NEED MORE HARDWORKING IMMIGRANTS. AND THAT'S WHAT DREAMERS ARE. THEY'RE HARD WORKING, THEY STUDY HARD, PAY THEIR TAXES, FOLLOW THE LAW AND, YES, LADIES AND GENTLEMEN, DREAMERS HAVE BEEN VETTED. LET ME REPEAT. DREAMERS ARE IMMIGRANTS THAT HAVE BEEN VETTED. AND YET, TODAY, WE STILL ASK, WHAT IS GOING TO HAPPEN TO DREAMERS? MR. SPEAKER, LET'S NOT LIVE WITH ANY REGRETS. LET'S NOT LOOK BACK TOMORROW, NEXT YEAR, 10 YEARS, 20 YEARS FROM NOW AND SAY WE COULD HAVE BEEN', SHOULD'VE', WOULD'VE', MR. SPEAKER. LET'S VOTE ON H.R. 3440 AND LET'S DO THE RIGHT THING. MR. SPEAKER, I YIELD.

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        • 01:05:23 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM CALIFORNIA YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS…

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

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        • 01:05:26 PM

          MR. COLLINS

          THANK YOU, MR. SPEAKER. I WOULD INQUIRE FROM MY FRIEND FROM COLORADO IF…

          THANK YOU, MR. SPEAKER. I WOULD INQUIRE FROM MY FRIEND FROM COLORADO IF YOU HAVE ANY MORE SPEAKERS.

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        • 01:05:33 PM

          MR. POLIS

          WE HAVE NO MORE SPEAKERS.

        • 01:05:36 PM

          MR. COLLINS

          THEN I'LL LET YOU CLOSE.

        • 01:05:39 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM COLORADO IS RECOGNIZED TO CLOSE DEBATE FOR THE MINORITY.

        • 01:05:43 PM

          MR. POLIS

          I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

        • 01:05:45 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN IS RECOGNIZED.

        • 01:05:46 PM

          MR. POLIS

          I AM NOT SURE WHAT'S WORSE, THE FACT WE ARE TAKING UP LEGISLATION THAT…

          I AM NOT SURE WHAT'S WORSE, THE FACT WE ARE TAKING UP LEGISLATION THAT WOULD MAKE IT MORE DIFFICULT FOR AMERICANS TO GAIN ACCESS TO BUILDINGS IN THEIR COMMUNITY, INCLUDING BUILDINGS THAT THEY WORK IN, OR THAT WE'RE CONSIDERING LEGISLATION THAT MAKES IT EASIER FOR PAYDAY LENDERS TO PREY ON VULNERABLE CONSUMERS BY FORCING WASHINGTON, D.C., BIG GOVERNMENT REPUBLICAN VALUES ON OUR STATES' RIGHTS, OR IS IT WORSE WE ARE NOT TAKING UP LEGISLATION TO PROTECT THE HUNDREDS OF THOUSANDS OF DREAMERS AT RISK OF DEPORTATION AT THE BEGINNING OF MARCH UNLESS WE ACT? MY REPUBLICAN COLLEAGUES ARE WORKING HARD TO PUT WASHINGTON, D.C., BIG GOVERNMENT AHEAD OF PEOPLE, TO FORCE PEOPLE WITH DISABILITIES TO GET LAW DEGREES AND WANDER AROUND WITH NOTE PADS TO DOCUMENT WHENEVER THEY NEED TO GET INTO A BUILDING AND PUT PAYDAY LENDERS AHEAD OF HARDWORKING AMERICANS. INSTEAD, WE SHOULD FOCUS ON FINDING BIPARTISAN SOLUTIONS TO PROTECT ASPIRING AMERICANS TO BE FORCIBLY DEPORTED FROM THE ONLY COUNTRY THEY KNOW. I ASK MY COLLEAGUES TO VOTE NO ON THE RULE ON H.R. 2399 AND H.R. 620 AND YIELD BACK THE BALANCE OF MY TIME.

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        • 01:06:57 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM COLORADO YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS…

          THE GENTLEMAN FROM COLORADO YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS RECOGNIZED TO CLOSE DEBATE ON THE LEGISLATION.

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        • 01:07:02 PM

          MR. COLLINS

          THANK YOU, MR. SPEAKER. LOOK, I THINK THE INTERESTING THING IS EXPRESSED…

          THANK YOU, MR. SPEAKER. LOOK, I THINK THE INTERESTING THING IS EXPRESSED BY OUR SPEAKERS, ESPECIALLY ON THE FINANCIAL SERVICES COMMITTEE, THESE ARE BIPARTISAN PIECES OF LEGISLATION, THEY CAME BACK, VETTED, MANY OF THEM THROUGH THE CHOICE ACT PREVIOUSLY BUT ALSO HAD BEEN COMING BACK IN AGREEMENT LOOKING ACROSS THE -- SOMETHING REALLY INTERESTING IS A BICAMERAL, BIPARTISAN PROCESS OF MAKING SURE CAPITAL AND THESE FINANCIAL SERVICES BILLS WE CAN MOVE AND CAN IMPROVE. I DO, AGAIN, TAKE A LITTLE BIT OF EXCEPTION AND, LOOK, RHETORIC IS RHETORIC. BUT DECEIT IS ALSO DECEIT IN THE SENSE WE DON'T TALK ABOUT, ESPECIALLY IN THIS A.D.A., I AM NOT SURE HOW OPPOSING A BILL THAT'S DESIGNED TO MAKE IMPROVEMENTS FOR FOLKS IS AND PROTECTING TRIAL LAWYERS WHO CAN GET PEOPLE WHO DO NOT EVEN HAVE DISABILITIES TO SUE OR TO SEND A DEMAND LETTER TO GET MONEY WITHOUT REQUIRING THE BUSINESS ACTUALLY SOLVE THE PROBLEM. THAT'S WHAT'S BEEN MISSING IN THIS DEBATE TODAY. THEY CAN ACTUALLY SEND A LETTER, SAY, HERE'S WHAT OUR PROBLEM IS, WE ARE GOING TO SUE YOU. IF YOU SEND US X AMOUNT OF DOLLARS, THAT WILL DO AWAY WITH IT, NEVER CONCERNED AT ALL IF THE DECISION IS ACTUALLY MAKING A DIFFERENCE IN THE BUSINESS OR THE LOCATION. THEY DON'T CARE. IN FACT, IF YOU WANTED TO OPPOSE THIS, YOU'RE ACTUALLY, FRANKLY, SAYING THAT'S A GOOD IDEA, I LIKE THAT. LET'S JUST PICK ON BUSINESS. AT THE END OF THE DAY, YOU KNOW THOSE FOLKS WITH DISABILITIES, THEY ARE JUST OUR KEY TO MAKING MORE MONEY. THAT'S WRONG. AND MY DAUGHTER IS NOT A MONEYMAKING PROPOSITION. THAT'S GOT TO CEASE. WE CAN DISAGREE ON WAYS ABOUT THIS. MY FRIEND FROM RHODE ISLAND AND I TALKED ABOUT THIS A GREAT DEAL. WE ARE OF THE SAME MIND AND SAME AGREEMENT. WE MAY DISAGREE ON SOMEHOW THIS IS -- HOW TO GET THERE BUT AT THE END OF THE DAY, THE A.D.A. IS STILL THERE, THE A.D.A. IS NOT GOING AWAY, THE A.D.A. IS NOT BEING GUTTED, THE A.D.A. IS NOT -- THERE'S NOBODY ASKING FOLKS WITH DISABILITIES HAVE LAW DEGREES. A LOT OF THEM HAVE AND THEY ARE MAKING A DIFFERENCE. ONE OF THE GREATEST EMPHASIS TO A BUSINESS THAT MAY HAVE AN IMPEDIMENT, THEY MAY HAVE PUT SOMETHING IN A WAY IS FOR SOMEONE WITH A DISABILITY SAY, BY THE WAY, I CAN'T GET IN HERE AND MOST BUSINESS OWNER DON'T SAY, I DON'T WANT DISABILITY FOLKS IN MY BUSINESS. NO, THEY WANT TO FIX IT BECAUSE THEY WANT TO DO BUSINESS. TO SAY ANYTHING ELSE IS SIMPLY UNFORTUNATELY AT TIMES TENDING TO SCARE PEOPLE FOR THE WRONG REASONS. IF YOU WANT TO DEFEND TRIAL LAWYERS AND OTHERS WHO ARE WILLING TO SUE WITH NONDISABLED PEOPLE TO SUE BUSINESS, TAKING GOOGLE PHOTOGRAPHS OF GOOGLE MAPS AND SAYING THIS IS A BUSINESS THAT WE'RE GOING TO EXTORT SOMETHING FROM, THEN VOTE AGAINST THIS BILL. THEN EXPLAIN TO SOMEBODY BE IN A WHEELCHAIR WHY YOU'RE USING THEM AND ALLOW THESE FOLKS TO USE THEM FOR THEIR PROFIT MOTIVES. THAT'S WRONG. WE CAN FIND A LOT OF WAYS TO FIND AGREEMENT HERE. LET'S AT LEAST LOOK AT THE SITUATION ON HOW IT IS. SO WITH THESE FINANCIAL SERVICES BILLS, THEY PROVIDE REGULATE RELIEF, THEY REDUCE UNNECESSARY BURDENS, THEY'RE BIPARTISAN. I AM URGING MY FRIENDS TO TAKE A LOOK AT THE AMENDMENTS. THERE ARE A LOT OF AMENDMENTES THAT WILL COME FORWARD ON THESE, ESPECIALLY THE A.D.A. BILL, AND OTHERS. LOOK AT THAT. LISTEN TO IT. TALK ABOUT IT. AT THE END OF THE DAY, NEVER FORGET WHAT IS ACTUALLY HAPPENING HERE AND WHAT WE'RE ACTUALLY SEEING IS SOMETHING THAT WE CAN MAKE A DIFFERENCE IN. AND WE'RE LOOKING TO MAKE A DIFFERENCE IN. I URGE MY COLLEAGUES ON BOTH SIDES OF THE AISLE TO SUPPORT THE RULE AND UNDERLYING BILL. WITH THAT I YIELD BACK THE BALANCE OF MY TIME AND MOVE THE PREVIOUS QUESTION ON THE RESOLUTION.

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        • 01:10:33 PM

          THE SPEAKER PRO TEMPORE

          THE GENTLEMAN FROM GEORGIA YIELDS BACK. ALL TIME HAVING EXPIRED ON THIS…

          THE GENTLEMAN FROM GEORGIA YIELDS BACK. ALL TIME HAVING EXPIRED ON THIS RESOLUTION, 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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        • 01:10:48 PM

          MR. POLIS

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

        • 01:10:49 PM

          I REQUEST THE YEAS AND NAYS.THE SPE

          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. PURSUANT TO CLAUSE 8 AND CLAUSE 9 OF RULE 20, THIS 15-MINUTE VOTE ON ORDERING THE PREVIOUS QUESTION WILL BE FOLLOWED BY FIVE-MINUTE VOTES ON ADOPTING THE RESOLUTION, IF ORDERED, AND MOTIONS TO SUSPEND THE RULES IN REGARD -- WITH REGARD TO H.R. 3542 AND HOUSE RESOLUTION 129. 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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        • 01:11:11 PM

          On ordering the previous question Roll Call 72 - Yea and Nay vote pending.

          • 01:39:22 PM

            THE SPEAKER PRO TEMPORE

            ON THIS VOTE THE YEAS ARE 228. THE NAYS ARE 187. THE PREVIOUS QUESTION IS…

            ON THIS VOTE THE YEAS ARE 228. THE NAYS ARE 187. THE PREVIOUS QUESTION IS ORDERED. THE QUESTION IS ON ADOPTION OF THE RESOLUTION. ALL THOSE IN FAVOR SAY AYE. ALL THOSE OPPOSED, NO. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT.

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      • 01:39:22 PM
        • 01:39:24 PM

          On agreeing to the resolution Roll Call 73 - Recorded vote pending.

          • 01:39:37 PM

            MR. POLIS

            ON THAT I REQUEST A RECORDED VOTE.

          • 01:39:40 PM

            THE SPEAKER PRO TEMPORE

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

            A RECORDED VOTE IS REQUESTED. THOSE FAVORING A RECORDED VOTE WILL RISE. A SUFFICIENT NUMBER HAVING ARISEN, A RECORDED VOTE IS ORDERED. 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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          • 01:48:33 PM

            THE SPEAKER PRO TEMPORE

            ON THIS VOTE, THE YEAS ARE 225 AND THE NAYS ARE 1887. -- 187.

      • 01:50:12 PM
        • 01:50:13 PM

          THE SPEAKER PRO TEMPORE

          ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS ARE 187. THE RESOLUTION IS…

          ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS ARE 187. THE RESOLUTION IS ADOPTED.

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        • 01:51:09 PM

          THE SPEAKER PRO TEMPORE

          ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS IS 187. THE RESOLUTION IS…

          ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS IS 187. THE RESOLUTION IS ADOPTED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. THE UNFIN EARNED BUSINESS IS VOTE ON THE MOTION OF THE THE GENTLEMAN FROM SOUTH CAROLINA, MR. WILSON, TO SUSPEND THE RULES AND PASS H.R. 3452 AS AMENDED ON WHICH YEAS AND NAYS ARE ORDERED.

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        • 01:51:12 PM

          Motion to reconsider laid on the table Agreed to without objection.

          • 01:51:35 PM

            THE CLERK

            H.R. 3542, TO IMPOSE SANCTIONS AGAINST HAMAS BY REASON OF THE USE OF…

            H.R. 3542, TO IMPOSE SANCTIONS AGAINST HAMAS BY REASON OF THE USE OF CIVILIANS AS HUMAN SHIELDS AND FOR OTHER PURPOSES.

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          • 01:51:47 PM

            THE SPEAKER PRO TEMPORE

            THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND PASS THE BILL AS…

            THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND PASS THE BILL AS AMENDED. 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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      • 01:51:49 PM

        UNFINISHED BUSINESS

        The Chair announced that the unfinished business was the question on motions to suspend the rules, which were debate earlier and on which further proceedings had been postponed.

        • 01:52:16 PM

          Considered as unfinished business. H.R. 3542 — "To impose sanctions against Hamas for gross violations of internationally recognized human rights by reason of the use of civilians as human shields, and for other purposes."

          • 01:59:05 PM

            THE SPEAKER PRO TEMPORE

            ON THIS VOTE, THE YEAS ARE 415 AND THE NAYS ARE ZERO. 2/3 BEING IN THE…

            ON THIS VOTE, THE YEAS ARE 415 AND THE NAYS ARE ZERO. 2/3 BEING IN THE AFFIRMATIVE, THE RULES ARE SUSPENDED AND WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. WITHOUT OBJECTION, THE TITLE IS AMENDED. THE UNFINISHED BUSINESS IS THE VOTE ON THE MOTION OF THE THE GENTLEMAN FROM SOUTH CAROLINA, MR. WILSON, TO SUSPEND THE RULES AND AGREE TO H.RES. 129 AS AMENDED ON WHICH THE YEAS AND NAYS ARE ORDERED. THE CLERK WILL REPORT THE TITLE OF THE RESOLUTION.

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      • 01:59:13 PM

        House Vote 74 - On Motion to Suspend the Rules and Pass, as Amended

        Hamas Human Shields Prevention Act

        Passed (415 - 0)
        Yea

        Vote Details: Yea - 415
        Republican - 228
        Democratic - 187

        Vote Details: Not Voting - 15
        Democratic - 6
        Republican - 9

        • 01:59:14 PM

          Motion to reconsider laid on the table Agreed to without objection.

          • 01:59:18 PM

            The title of the measure was amended. Agreed to without objection.

            • 01:59:39 PM

              THE CLERK

              HOUSE RESOLUTION 129, RESOLUTION CALLING ON THE DEPARTMENT OF DEFENSE,…

              HOUSE RESOLUTION 129, RESOLUTION CALLING ON THE DEPARTMENT OF DEFENSE, OTHER ELEMENTS OF THE FEDERAL GOVERNMENT AND FOREIGN GOVERNMENTS TO INCENTIVIZE EFFORTS TO INVESTIGATE, RECOVER AND IDENTIFY ALL UNACCOUNTED FOR PERSONNEL OF THE UNITED STATES.

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          • 01:59:39 PM

            Considered as unfinished business. H. Res. 129 — "Calling on the Department of Defense, other elements of the Federal Government, and foreign governments to intensify efforts to investigate, recover, and identify all missing and unaccounted-for personnel of the United States."

            • 01:59:55 PM

              THE SPEAKER PRO TEMPORE

              THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND AGREE TO THE…

              THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND AGREE TO THE RESOLUTION AS AMENDED. 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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          • 02:00:21 PM

            On motion to suspend the rules and agree to the resolution, as amended Roll Call 75 - 2/3 Yea and Nay vote pending.

            • 02:06:10 PM

              THE SPEAKER PRO TEMPORE

              ON THIS VOTE THE YEAS ARE 411 AND THE NAYS ARE ZERO. THE BILL IS PASSED.…

              ON THIS VOTE THE YEAS ARE 411 AND THE NAYS ARE ZERO. THE BILL IS PASSED. WITHOUT OBJECTION, THE TITLE IS AMENDED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM MISSISSIPPI SEEK RECOGNITION?

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        • 02:06:16 PM

          House Vote 75 - On Motion to Suspend the Rules and Agree, as Amended

          Calling on the Department of Defense, other elements of the Federal Government, and foreign governments to intensify efforts to investigate, recover, and identify all missing and unaccounted-for personnel of the United States.

          Passed (411 - 0)
          Yea

          Vote Details: Yea - 411
          Republican - 227
          Democratic - 184

          Vote Details: Not Voting - 19
          Republican - 10
          Democratic - 9

          • 02:06:20 PM

            The title of the measure was amended. Agreed to without objection.

            • 02:06:21 PM

              Motion to reconsider laid on the table. Agreed to without objection.

              • 02:06:23 PM

                Mr. Harper asked unanimous consent to discharge from committee and consider.

                • 02:06:30 PM

                  >>

                  MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT THE COMMITTEE ON HOUSE…

                  MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT THE COMMITTEE ON HOUSE ADMINISTRATION BE DISCHARGED FROM FURTHER CONSIDERATION OF HOUSE CONCURRENT RESOLUTION 103 AND I ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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              • 02:06:30 PM

                Considered by unanimous consent. H. Con. Res. 103 — "Authorizing the use of Emancipation Hall for a ceremony as part of the commemoration of the days of remembrance of victims of the Holocaust."

                • 02:06:43 PM

                  THE SPEAKER PRO TEMPORE

                  THE CLERK WILL REPORT THE TITLE OF THE RESOLUTION.

                • 02:06:46 PM

                  THE CLERK

                  HOUSE CONCURRENT RESOLUTION 103, CONCURRENT RESOLUTION AUTHORIZING THE USE…

                  HOUSE CONCURRENT RESOLUTION 103, CONCURRENT RESOLUTION AUTHORIZING THE USE OF EMANCIPATION HALL FOR A CEREMONY AS PART OF THE COMMEMORATION OF THE DAYS OF REMEMBRANCE OF VICTIMS OF THE HOLOCAUST.

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            • 02:06:50 PM

              On agreeing to the resolution Agreed to without objection.

              • 02:06:59 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 GENTLELADY FROM ALABAMA SEEK RECOGNITION?

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              • 02:07:05 PM

                Motion to reconsider laid on the table Agreed to without objection.

                • 02:07:16 PM

                  MS. SEWELL

                  MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT MY NAME BE REMOVED AS CO-SPONSOR…

                  MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT MY NAME BE REMOVED AS CO-SPONSOR OF H.R. 620.

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                • 02:07:23 PM

                  THE SPEAKER PRO TEMPORE

                  THAT REQUEST CANNOT BE ENTERTAINED. THE HOUSE WILL COME TO ORDER. FOR WHAT…

                  THAT REQUEST CANNOT BE ENTERTAINED. THE HOUSE WILL COME TO ORDER. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS, MR. HENSARLING, SEEK RECOGNITION?

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              • 02:08:15 PM

                Considered under the provisions of rule H. Res. 736. H.R. 3299 — "To amend the Revised Statutes, the Home Owners' Loan Act, the Federal Credit Union Act, and the Federal Deposit Insurance Act to require the rate of interest on certain loans remain unchanged after transfer of the loan, and for other purposes."

                • 02:08:18 PM

                  MR. HENSARLING

                  MR. SPEAKER, PURSUANT TO HOUSE RESOLUTION 736, I CALL UP H.R. 3299 AND ASK…

                  MR. SPEAKER, PURSUANT TO HOUSE RESOLUTION 736, I CALL UP H.R. 3299 AND ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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              • 02:08:20 PM

                Provides for consideration of H.R. 620 and H.R. 3978 under structured rules and H.R. 3299 under a closed rule. Each bill shall be debatable for one hour. The resolution provides for proceedings during the period of February 16, 2018 through February 23, 2018.

                • 02:08:28 PM

                  THE SPEAKER PRO TEMPORE

                  THE CLERK WILL REPORT THE TITLE OF THE BILL.

                • 02:08:31 PM

                  THE CLERK

                  UNION CALENDAR NUMBER 402, H.R. 3299, A BILL TO AMEND THE REVISED…

                  UNION CALENDAR NUMBER 402, H.R. 3299, A BILL TO AMEND THE REVISED STATUTES, THE HOMEOWNERS' LOAN ACT, THE FEDERAL CREDIT UNION ACT, AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE RATE OF INTEREST ON CERTAIN LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOAN, AND FOR OTHER PURPOSES.

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                • 02:08:54 PM

                  TEMPORE PURSUANT

                  PURSUANT TO HOUSE RESOLUTION 736, THE BILL IS CONSIDERED AS READ. THE…

                  PURSUANT TO HOUSE RESOLUTION 736, THE BILL IS CONSIDERED AS READ. 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, MR. HENSARLING.

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            • 02:08:55 PM

              DEBATE

              The House proceeded with one hour of debate on H.R. 3299.

              • 02:09:06 PM

                MR. HENSARLING

                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 UNDER CONSIDERATION.

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              • 02:09:17 PM

                TEMPORE WITHOUT

                WITHOUT OBJECTION.

              • 02:09:18 PM

                MR. HENSARLING

                MR. SPEAKER, I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

              • 02:09:20 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN IS RECOGNIZED.

              • 02:09:22 PM

                MR. HENSARLING

                THANK YOU, MR. SPEAKER. I RISE TODAY IN STRONG SUPPORT OF H.R. 3299, THE…

                THANK YOU, MR. SPEAKER. I RISE TODAY IN STRONG SUPPORT OF H.R. 3299, THE PROTECTING CONSUMER ACCESS TO CREDIT ACT OF 2017, A MOST IMPORTANT GOAL OF THIS CHAMBER. H.R. 3299 IS AN IMPORTANT BILL THAT IS CO-SPONSORED BY A BIPARTISAN GROUP OF MEMBERS OF THE HOUSE. MR. SPEAKER, IT WAS APPROVED BY THE HOUSE FINANCIAL SERVICES COMMITTEE WITH A VERY STRONG BIPARTISAN SUPPORT OF 4217. I'D LIKE TO START OUT THANKING MY COLLEAGUE, THE GENTLEMAN FROM NORTH CAROLINA, MR. MCHENRY, THE VICE CHAIRMAN OF THE COMMITTEE, FOR LEADING OUR CONGRESSIONAL EFFORTS. TO HELP CREATE A REGULATE FRAMEWORK WHICH WILL ENCOURAGE THE GROWTH OF FINANCIAL TECHNOLOGY AND EXPAND MUCH-NEEDED ACCESS TO CREDIT FOR AMERICA'S SMALL BUSINESSES AND CONSUMERS. H.R. 3299 IS A LEGISLATIVE RESPONSE TO THE 2015 SECOND CIRCUIT COURT OF APPEALS OF MADDON V. MIDLAND FUNDING, WHICH DID NOT CONSIDER THE VALID WHEN MADE LEGAL DOCTRINE WHICH IS A NEARLY 200-YEAR-OLD PRINCIPLE OF USERY LAW IN OUR REPUBLIC, MR. SPEAKER. AGAIN, 200 YEARS OF COMMON LAW UPENDED IN ONE COURT CASE. IN THAT DECISION, THE COURT HELD WHILE THE NATIONAL BANK ACT ALLOWED A FEDERALLY CHARTERED BANK TO CHARGE INTEREST UNDER THE LAWS OF ITS HOME STATE AS LONG AS IT MAKES NATIONWIDE NONK BANKS THAT BOUGHT THOSE LOANS COULD NOT CONTINUE TO COLLECT THAT INTEREST BECAUSE NONBANKS ARE GENERALLY SUBJECT TO THE LIMITS OF THE BORROWER'S STATE. THE SECOND CIRCUIT DECISION HAS CAUSED CONSIDERABLE UNCERTAINTY AND RISK FOR MANY TYPES OF BANK LENDING PROGRAMS, INCLUDING BANK MODEL MARKETPLACE LENDING WHERE NATIONAL BANKS ORIGINATE LOANS AND THEN TRANSFER THEM TO NONBANK THIRD PARTIES. BEING ABLE TO OFFER CONSISTENT TERMS NATIONWIDE IS VITAL TO SCALING THE MARKETPLACE LENDING BUSINESS, WHICH IN TURN ALLOWS LENDERS TO ACCESS CHEAPER INVESTMENT CAPITAL AND THEN PASS THE SAVINGS ON TO THE BORROWERS WHO MAY BE LOOKING TO BUY THEIR FIRST HOME, START A BUSINESS, SEND A KID TO COLLEGE. H.R. 3299, AGAIN, IS A COMMONSENSE BILL THAT SIMPLY CODIFIES THE 200-YEAR-OLD VALID WHEN MADE LEGAL DOCTRINE WHICH WOULD PRESERVE THE LAWFUL INTEREST RATE ON A LOAN ORIGINATED BY BANK EVEN IF THE LOAN IS SOLD, ASSIGNED, OR TRANSFERRED TO A NONBANK THIRD PARTY. THIS CONCEPT IS THE BACKBONE HOW BUSINESS PARTNERS WITH BANKS. THOSE CONSUMERS WITH LESS ACCESS TO TRADITIONAL LENDING SOURCES, THIS BILL WOULD HELP. MR. SPEAKER, DON'T TAKE MY WORD FOR IT. ACCORDING TO A RECENT COLUMBIA-STANFORD UNIVERSITY STUDY, BORROWERS WITH CREDIT SCORES UNDER 625 HAVE SEEN THEIR CREDIT CUT IN HALF. CUT IN HALF THANKS TO THIS DECISION. AGAIN, MR. SPEAKER, BORROWERS WITH LESS THAN STALAR CREDIT SCORES HAVE SEEN THEIR CREDIT CUT IN HALF. WE SIMPLY CANNOT ALLOW THIS TO HAPPEN. NOW, MR. SPEAKER, THANKS TO PRESIDENT TRUMP AND CONGRESS, PASSING THE TAX CUTS AND JOBS ACT WE ARE BEGINNING TO SEE THIS ECONOMY START TO TAKE OFF. WE ARE FINALLY SEEING WAGES BEGIN TO GROW AFTER EIGHT YEARS OF FAILED ECONOMIC POLICY BUT SO MUCH WORK REMAINS TO BE DONE FOR WORKING AMERICAN FAMILIES. WE HAVE HEARD ON OUR FINANCIAL SERVICES COMMITTEE, MR. SPEAKER, FROM SO MANY OF THESE FAMILIES WHO ARE TRYING TO MAKE ENDS MEET AND IT'S VITAL THEY BE ABLE TO ACCESS CREDIT. AMERICANS LIKE ALLEN FROM NEW HAMPSHIRE WHO RECENTLY HAD TROUBLE FINDING CREDIT THROUGH TRADITIONAL BANKS AND CREDIT UNIONS DUE TO THE REGULATE LOW. HE SAID, BUT FOR MY LOCAL DEALER'S EFFORTS ON MY BEHALF THERE IS NO DOUBT I WOULDN'T BE DRIVING MY CURRENT CAR. AND THIS WAS A DESPERATE SITUATION AS I AM THE SOLE INCOME EARNER FOR MY FAMILY. MY WIFE IS ILL AND WE HAVE TWO YOUNG CHILDREN IN SCHOOL. AFTER MY OLD VEHICLE BROKE DOWN, I NEEDED TO FIND RELIABLE REPLACEMENT TRANSPORTATION SO I COULD GET TO WORK AND CONTINUE TO PROVIDE FOR MY FAMILY. MR. SPEAKER, WE SHOULD NOT LET THE SECOND CIRCUIT PREVENT ALLEN FROM GETTING THAT CAR LOAN HE DESPERATELY NEEDS IN ORDER TO GET TO WORK AS THE SOLE PROVIDER FOR HIS FAMILY. A SMALL BUSINESS OWNER FROM UTAH NAMED MAXINE APPLIED FOR A LOAN FOR HER 37-YEAR-OLD ESTABLISHED BUSINESS SO SHE CAN UPDATE AND PURCHASE EQUIPMENT. TO SUPPORT A CONTRACT THAT WOULD HAVE LED TO THE CREATION OF 50 ADDITIONAL JOBS. AS SHE EXPLAINED, QUOTE, THREE BANKS INFORMED US OUR RATING, ACCORDING TO NEW BANK REGULATIONS IMPOSED BY DODD-FRANK, DISQUALIFIED US FROM LOAN CONSIDERATION. 50 JOBS, POOF, GONE, MR. SPEAKER. AND SO IS DODD-FRANK NOT BAD ENOUGH? NOW WE ADD THIS SECOND CIRCUIT OPINION TO ALLOW LOWER CREDIT INDIVIDUALS THAT CUT CREDIT OPPORTUNITY IN HALF? I DON'T THINK SO. I DON'T THINK SO. IT'S NOT UP FOR THE UNELECTED TO MAKE SUCH DECISIONS. WE CANNOT CONTINUE TO ALLOW, MR. SPEAKER, WASHINGTON RED TAPE AND THE SECOND CIRCUIT TO CUT OFF CREDIT OPPORTUNITIES FOR HARDWORKING AMERICANS. AS THE BILL SAYS, WE MUST PRESERVE AND PROTECT CONSUMERS' ACCESS TO CREDIT, SO I URGE EVERY MEMBER TO SUPPORT THIS VERY IMPORTANT BIPARTISAN BILL, AND I RESERVE THE BALANCE OF MY TIME. .

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              • 02:15:30 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

              • 02:15:34 PM

                MS. WATERS

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

                THANK YOU VERY MUCH. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MR. SPEAKER, I RISE TODAY IN OPPOSITION TO H.R. 3299, THE SO-CALLED PROTECTING CONSUMERS ACCESS TO CREDIT ACT OF 2017. THERE'S A GOOD REASON OVER 200 CIVIL RIGHTS CONSUMER FAITH-BASED HOUSING, LABOR, AND VETERANS ADVOCACY ORGANIZATIONS OPPOSE THIS BILL. THE TYPE OF CREDIT THAT THIS BILL HELPS CONSUMERS ACCESS IS THE KIND THAT MAKES IT EASIER FOR VULNERABLE CONSUMERS TO SINK INTO INSURMOUNTABLE DEBT, LIKE PAYDAY AND OTHER HIGH-COST LOANS. H.R. 3299 EXPANDS THE ABILITY OF NONBANKS TO PREEMPT STATE LEVEL CONSUMER PROTECTIONS BY STATING THAT THE INTEREST RATE ON ANY LOAN ORIGINATED BY A NATIONAL BANK THAT IS SUBSEQUENTLY TRANSFERRED TO A THIRD PARTY, NO MATTER HOW QUICKLY AFTER IT IS ORIGINATED, IS ENFORCEABLE. WHICH INCENTIVIZES RICKIER AND PREDATORY LENDING. H.R. 3299 ADVANCES A DANGEROUS PRECEDENT BY ALLOWING THIRD PARTIES THAT PURCHASE LOANS FROM NATIONAL BANKS TO COLLECT ON INTEREST RATES THAT WOULD OTHERWISE BE ILLEGAL BECAUSE THEY EXCEED STATE CAPS. NOW THIS BILL IS AN ATTEMPT TO OVERTURN A COURT DECISION RELATED TO THE LEGAL CONCEPT OF, QUOTE, VALID WHEN MADE, QUOTE-UNQUOTE, FROM THE SECOND CIRCUIT COURT OF APPEALS IN MADDON-VS. MITTLAND. FUNDING L.L.C. IN THAT CASE THE COURT HELD THAT WHEN LOANS ARE TRANSFERRED FROM BANKS TO NONBANK THIRD PARTIES, THEY MUST MAINTAIN THE SAME TERMS, RATES, AND CONDITIONS AS REQUIRED BY THE STATE WHERE THE ORIGINATING BANK IS CHARTERED. DESPITE CLAIMS BY PROPONENTS OF THE BILL, LEGAL EXPERTS HAVE EXPLAINED IN TESTIMONY THAT, QUOTE, THE VALID WHEN MADE DOCTRINE IS A MODERN INVENTION NOT A CORNERSTONE OF U.S. BANKING LAW, END QUOTE. THE MADDON DECISION IS THE ONLY -- IS ONLY THE RULE OF LAW IN THE STATES UNDER THE SECOND CIRCUIT WHICH ARE CONNECTICUT, NEW YORK, AND VERMONT. BUT SOME INDUSTRY ADVOCATES, PARTICULARLY MARKETPLACE LENDER FINTECHES HAVE ARGUED THE RULING AND CONFUSE ABOUT VALID WHEN MADE CAUSED SUCH GREAT MARKET AMBIGUITY THAT IT HAS RESULTED IN REDUCED LENDING TO NEEDY BORROWERS IN THOSE STATES. BUT THOSE CLAIMS HAVE NOT BEEN SUBSTANIATED. THE ONLY PURPORTED EVIDENCE WE HAVE ON THE EFFECT OF THE MADDON RULE IS A SINGLE UNPUBLISHED STUDY THAT CANNOT EVEN BE PEER REVIEWED BECAUSE IT RELIES ON PRIVATE DATA FROM A SINGLE UNIDENTIFIED MARKETPLACE LENDER. AND THE AUTHORS OF THAT STUDY HAVE NOT ENDORSED THIS BILL. IN ADDITION 20 STATE ATTORNEYS GENERAL, INCLUDING THE ATTORNEYS GENERAL FOR ALL THREE STATES UNDER THE SECOND CIRCUIT, OPPOSE THIS LEGISLATIVE CHANGE. YOU KNOW WHAT? PREDATORY LENDERS ARE WORRIED ABOUT MADDEN CASE FOR A DIFFERENT REASON. ELEVATE AND ONLINE PAYDAY LENDER IS SCARED THAT THEY WON'T BE ABLE TO CONTINUE MAKING PREDATORY LOANS IF THE MADDEN DECISION STAYS IN PLACE. IN THEIR PUBLIC FILINGS WITH THE S.E.C., ELEVATE SAID THAT, QUOTE, TO THE EXTENT THAT THE HOLDINGS IN MADDEN WERE BROADEN TO COVER CIRCUMSTANCES APPLICABLE TO ELEVATE BUSINESS OR IF OTHER LIT ON RELATED THEORIES WERE BROUGHT AGAINST US AND WERE SUCCESSFUL, WE COULD BECOME SUBJECT TO STATE WERE USURY LIMITS AND STATE LICENSING LAWS IN ADDITION TO THE STATE CONSUMER PROTECTION LAWS TO WHICH WE'RE ALREADY SUBJECT TO. IN A GREATER NUMBER OF STATES, LOANS IN SUCH STATES COULD BE DEEMED VOID AND UNENFORCEABLE AND WE WOULD BE SUBJECT TO SUBSTANTIAL PENALTIES IN CONNECTION WITH SUCH LOANS, QUOTE-UNQUOTE. MR. SPEAKER, I DO NOT DOUBT THE SINCERITY OF THE GOOD ACTORS THAT MAY BE TRYING TO NAVIGATE A DIFFICULTY TO MAKE NEW RULING POTENTIALLY CAUSED. THIS ISN'T ABOUT THOSE BUSINESSES BECAUSE H.R. 3299 WOULD GO MUCH FURTHER TO ALLOW OTHER THIRD PARTIES, INCLUDING PAYDAY BUSINESSES BECAUSE LENDERS, TO EVADE OR OUTRIGHT DISREGARD STATE LEVEL LAWS AND COLLECT DEBT FROM BORROWERS AT UNREASONABLY HIGH RATES OF INTEREST IF THEY PURCHASE LOANS FROM A NATIONAL BANK. THESE ARRANGEMENTS WERE CALLED RENT A BANK. OR RENT A CHARTER AGREEMENT. AND THEY ALLOW PAYDAY LENDERS TO USE BANKS AS A FRONT FOR PREDATORY BEHAVIOR AND THE EVASION OF STATE INTEREST RATE CAPS. PAYDAY LOANS DRAIN WEALTH FROM LOW-INCOME CONSUMERS, PARTICULARLY THOSE IN COMMUNITIES OF COLOR, AND PAYDAY LOANS TRAP THEIR BORROWERS INTO A CYCLE DEBT THAT IT TAKES YEARS TO CLIMB OUT OF WITH HIGH INTEREST RATES THAT ARE OFTEN IN EXCESS OF 300%. SO LET'S BE CLEAR. INSTEAD OF SIMPLY OVERTURNING THE MADDEN DECISION, H.R. 3299 WOULD GO FAR BEYOND THAT AND CODIFY AND EXPAND IT, PREEMPTION POWER, WITHOUT ANY PROOF IT WILL BENEFIT CONSUMERS. IN FACT, ALL WE DO KNOW IS THAT THE BILL WILL MAKE IT EASIER FOR BAD ACTORS TO EVADE SAFEGUARDS THAT STATES HAVE PUT IN PLACE TO PROTECT BORE RORSE. WE CANNOT ADVANCE A BILL THAT WILL ALLOW NONBANKS LIKE PAYDAY LENDERS TO IGNORE STATE INTEREST RATE CAPS AND MAKE HIGH RATE LOANS. WHILE CONGRESS HAS PREEMPTED SOME STATE LAWS, THE NATIONAL BANKS, IT DID NOT AUTHORIZE NATIONAL BANKS TO EXTEND THE PRIVILEGE TO WHATEVER ENTITIES THEY SO CHOOSE. I URGE MY COLLEAGUES TO OPPOSE THIS BILL AND I RESERVE THE BALANCE OF MY TIME.

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              • 02:22:05 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 02:22:08 PM

                MR. HENSARLING

                I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM NORTH CAROLINA,…

                I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM NORTH CAROLINA, MR. MCHENRY, VICE CHAIRMAN OF THE COMMITTEE AND SPONSOR OF THE LEGISLATION.

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              • 02:22:14 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM NORTH CAROLINA IS RECOGNIZED.

              • 02:22:17 PM

                MR. MCHENRY

                I WANT TO THANK THE CHAIRMAN FOR HIS KINDNESS IN WORKING WITH ME AND MY…

                I WANT TO THANK THE CHAIRMAN FOR HIS KINDNESS IN WORKING WITH ME AND MY TEAM ON BRINGING THIS BILL TO THE FLOOR TODAY. I WANT TO THANK HIS STAFF AS WELL. WHAT WE HAVE TODAY IS THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT. A BIPARTISAN PIECE OF LEGISLATION THAT WE HAVE BOTH REPUBLICANS AND DEMOCRATS IN THE SENATE IN SUPPORT OF, AS WELL AS DEMOCRATS AND REPUBLICANS HERE IN THE HOUSE OF REPRESENTATIVES. THE ISSUE WE'RE DEALING WITH IS ONE OF THE BIGGEST CHALLENGES FACING OUR COUNTRY. WHICH IS THE DECLINE OF LENDING TO CONSUMERS AND SMALL BUSINESSES AND SMALL TOWNS AND RURAL COMMUNITIES LIKE THE ONES I REPRESENT IN WESTERN NORTH CAROLINA. IT'S THE SAME ISSUE FACING SO MANY IN URBAN SETTINGS AS WELL. THIS TUTCHTS ALL OF AMERICA. -- TOUCHES ALL OF AMERICA. BUT THE STORY IN RURAL AMERICA IS BLEAK. COMMUNITY BANKS ARE CLOSING AT A RAPID PACE AND SMALL BUSINESSES ARE STRUGGLING TO FIND LOANS. MANY AMERICANS DON'T HAVE THE SAVINGS TO COVER A COMMON $1,000 EMERGENCY LIKE A CAR REPAIR. THAT'S INTO THE JUST -- THAT'S NOT JUST A RURAL ISSUE. THAT TOUCHES ALL AMERICAN COMMUNITIES. THE GOOD NEWS IS AFTER THE FINANCIAL CRISIS, INNOVATIVE COMPANIES AND BANKS PARTNERED TOGETHER TO FIND NEW WAYS TO HELP HARDWORKING AMERICANS AND SMALL BUSINESS OWNERS. THEY CALL IT FINTECH. THESE INNOVATIVE COMPANIES PARTNER WITH BANKS TO HELP SMALL BUSINESSES GET A LOAN. THEY HELP YOUNG PEOPLE GET OUT OF STUDENT DEBT. THEY HELP EVERYDAY AMERICANS FIND THE FINANCING THEY NEED TO LEAD BETTER LIVES. NOW, THIS SHOULD BE SOMETHING HERALDED BY BOTH PARTIES. SHOULDN'T BE IN A PARTISAN ISSUE. SHOULDN'T BE A LEFT OR RIGHT, CONSERVATIVE OR LIBERAL. IT'S A GOOD THING THAT'S HAPPENING WITH INNOVATION AND DIFFERENT MODES OF LENDING AND BORROWING IN THIS COUNTRY. WHILE THIS ERA OF FINANCIAL INNOVATION IS BRAND NEW, THE ACTUAL STRUCTURE SUPPORTING FINTECH IS BASED ON ONE OF THE OLDEST BEDROCK PRINCIPLES IN AMERICAN LAW. THE FUNDAMENTAL CONCEPT IS CALLED VALID WHEN MADE. VALID WHEN MADE OR WHAT THE SUPREME COURT REFERRED TO IN 1833 AS QUOTE, THE CARDINAL RULE, END QUOTE, OF AMERICAN INTEREST RATE LAWS PROVIDES A LEGAL FOUNDATION FOR ALL FINTECH COMPANIES PARTNER WITH BANKS. I DON'T HAVE TO SHARE WITH THE RANKING MEMBER OR OTHER MEMBERS OF OUR CHAMBER THAT BANKS ARE HEAVILY REGULATED. IF THEY EVEN PARTNER WITH ANOTHER FIRM, THIS, TOO, IS A REGULATED THING. YET ALL THAT CHANGED WHEN THE SUPREME COURT DECLINED TO HEAR THE CASE OF MADDEN VS. MIDLAND FUNDING. IN MADDEN, ACTIVIST JUDGES ON A FEDERAL APPEALS COURT BROKE WITH THE LONG-STANDING LEGAL PRECEDENT OF VALID WHEN MADE AND HELD THAT THE 1864 NATIONAL BANK ACT DID NOT HAVE A PREEMPTIVE EFFECT ON LOANS CREATED UNDER THIS FINTECH BANK PARTNERSHIP. THE LEGAL FRAMEWORK HAS BEEN AROUND ALMOST FOR 200 YEARS AND THE PARTICULAR LAW THAT WE'RE DEALING WITH HAS BEEN AROUND FOR 150 YEARS. ROUGHLY SPEAKING. THE DECISION, THOUGH, THIS DECISION HAS CREATED UNCERTAINTY FOR FINTECH COMPANIES, FINANCIAL INSTITUTIONS AND CREDIT MARKETS GENERALLY. ACCORDING TO A STUDY FROM COLUMBIA AND STANFORD UNIVERSITIES, MADDEN SIGNIFICANTLY REDUCED CREDIT ABILITY IN THAT AFFECTED REGION. AND THIS MATTERS FOR ALL AMERICANS BECAUSE OF THE EFFECT IT'S HAVING. WHAT WE SAW IS LOAN VOLUMES DECLINE. THE AVERAGE FICA SCORE FOR BORROWERS TO GET A LOAN INCREASED. THAT MEANS IF YOU ARE ON THE MARGINS OF SOCIETY, IT GOT HARDER AND MORE EXPENSIVE FOR YOU TO GET LENDING. IT'S A BAD CASE. SIMPLY PUT, THIS SHOULD NOT BE HAPPENING. IF WE'RE SERIOUS ABOUT FINANCIAL INCLUSION FOR ALL AMERICANS, WE NEED THIS BILL TODAY. A BIPARTISAN BILL. WE NEED IT. IF WE'RE SERIOUS ABOUT MODERNIZING OUR FINANCIAL SYSTEM, WE NEED THIS BILL PASSED INTO LAW. IF WE'RE SERIOUS ABOUT HELPING EVERYDAY AMERICANS NOT JUST THE FORTUNATE FEW, WITH UNBLEMISHED CREDIT, WE NEED TO PASS THIS BILL. I'M PLEASED THIS LEGISLATION ENJOYS SUPPORT FROM MY COLLEAGUES ON BOTH SIDES OF THE AISLE. I WANT TO THANK REPRESENTATIVE MEEKS, DEMOCRAT OF NEW YORK, SENATOR MARK WARNER, DEMOCRAT OF VIRGINIA, AND SENATOR PAT TOOMEY, REPUBLICAN OF PENNSYLVANIA, WHO WORKED HARD ON THIS BIPARTISAN, BICAMERAL LEGISLATION. IT'S IMPORTANT, IT'S NEEDED. WE'LL HAVE A POSITIVE IMPACT ON PEOPLE'S LIVES. ALL ARGUMENTS THAT HAVE BEEN MADE ABOUT THIS BILL, AGAINST THIS BILL ON THE FLOOR DON'T ACTUALLY FOCUS ON WHAT IS IMPORTANT AND NECESSARY ABOUT THIS LEGISLATION. HAVE A POSITIVE THEY ARE STRAWMEN THAT DON'T HAVE ANYTHING TO DO WITH THE CONTENTS OF THIS VERY SIMPLE BIPARTISAN PIECE OF LEGISLATION. I ASK MY COLLEAGUES TO VOTE FOR THIS. AND I YIELD BACK THE BALANCE OF MY TIME.

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              • 02:27:31 PM

                THE SPEAKER PRO TEMPORE

                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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              • 02:27:35 PM

                MS. WATERS

                THANK YOU VERY MUCH. I YIELD TWO MINUTES TO THE GENTLEMAN FROM CALIFORNIA,…

                THANK YOU VERY MUCH. I YIELD TWO MINUTES TO THE GENTLEMAN FROM CALIFORNIA, VICE CHAIR OF THE CONGRESSIONAL PROGRESSIVE CAUCUS, MR. KHANNA.

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              • 02:27:43 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

              • 02:27:45 PM

                MR. KHANNA

                THANK YOU, MR. SPEAKER. I RISE IN OPPOSITION TO THIS BILL OF PROTECTING…

                THANK YOU, MR. SPEAKER. I RISE IN OPPOSITION TO THIS BILL OF PROTECTING CONSUMERS' ACCESS TO CREDIT ACT. I REPRESENT SILICON VALLEY, AND I AM NOT OPPOSED TO FINTECH. LET'S BE VERY CLEAR. I MEAN IF THERE IS TECHNOLOGY THAT'S GOING TO MAKE IT EASIER FOR PEOPLE TO GET ACCESS TO CAPITAL, WHO IS OPPOSED TO THAT? BUT THIS HAS NOTHING TO DO WITH FINTECH. THIS HAS TO DO WITH BASIC STATE LAWS. THE QUESTION IS NOT ARE WE GOING TO GO TO THE FUTURE, THE QUESTION IS ARE WE GOING TO GO BACK TO THE MERCHANT OF VENICE WHEN USURY LAWS WERE ALLOWED? THAT REALLY IS WHAT THE ISSUE IS. THE QUESTION -- WHAT THIS BILL DOES, JUST TO BE VERY CLEAR, IS IT SAYS IF YOU WANT TO USE FINTECH, IF YOU WANT TO USE TECHNOLOGY, NOW THE -- THERE IS NO LAW AGAINST BEING CHARGED 380%.

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              • 02:28:43 PM

                MR. MCHENRY

                WOULD THE GENTLEMAN YIELD? YOU ARE ASSERTING THERE IS NO LAW OR FEDERAL…

                WOULD THE GENTLEMAN YIELD? YOU ARE ASSERTING THERE IS NO LAW OR FEDERAL REGULATION AGAINST FEDERALLY CHARTERED BANKS LOANING -- GIVING LOANS TO PEOPLE?

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              • 02:29:01 PM

                MR. KHANNA

                LET ME TAKE BACK MY TIME. MY ASSERTION, I UNDERSTAND THE SECOND CIRCUIT…

                LET ME TAKE BACK MY TIME. MY ASSERTION, I UNDERSTAND THE SECOND CIRCUIT DECISION, THE SECOND CIRCUIT DECISION BASICALLY SAID THAT IF YOU ARE A BANK AND IF YOU ARE A FINTECH COMPANY AND YOU ARE IN RURAL PART OF THE COUNTRY, I TOTALLY AGREE WITH YOU, WE NEED MORE CAPITAL IN RURAL AMERICA. WE NEED MORE TECH THERE. WHAT THE SECOND CIRCUIT SAID IS YOU CAN'T PARTNER WITH A NATIONAL BANK AND PREEMPT STATE LAWS. SO IF NORTH CAROLINA HAS A LAW SAYING YOU CAN'T CHARGE 400% INTEREST, IF THERE IS A BANK IN NEW YORK OR BANK IN CALIFORNIA THAT WANTS TO CHARGE 400% INTEREST, JUST BECAUSE THEY HAVE SOME MAGICAL FINTECH, THEY CAN'T CHARGE PEOPLE 400% INTEREST IN NORTH CAROLINA OR ARKANSAS. I'M ALL FOR GIVING MORE CAPITAL AT AFFORDABLE RATES AND USING TECHNOLOGY TO HELP RURAL AMERICA. WE HAVE DONE A TERRIBLE JOB OF THAT. I CONCEDE THAT POINT. BUT THIS IS NOT THE WAY TO DO THAT. THIS IS GOING TO HURT THE --

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              • 02:30:03 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN IS RECOGNIZED.

              • 02:30:06 PM

                MR. KHANNA

                THIS IS GOING TO HURT ORDINARY FOLKS WHO CAN'T MAKE PAYCHECK TO PAYCHECK…

                THIS IS GOING TO HURT ORDINARY FOLKS WHO CAN'T MAKE PAYCHECK TO PAYCHECK AND THEY HAVE TO PAY THESE EXORBITANT INTEREST RATES. IF THE MAJORITY COMES UP WITH A BILL THAT SAYS WE WANT TO EXPAND THE S.B.A., WE WANT TO EXPAND FIGURING OUT HOW TO GET VENTURE CAPITAL INTO RURAL AMERICA, WE WANT TO EXPAND THE EARNED INCOME TAX CREDIT SO PEOPLE HAVE MORE MONEY IN THEIR POCKET SO THEY CAN MAKE A LIVING AND MEET THEIR DAILY EXPENSES, I AGREE. IF THEY SAY, LOOK, ALL THE CAPITAL, 85% OF THE CAPITAL IS IN MY DISTRICT IN MASSACHUSETTS AND NEW YORK, THEN WE HAVE TO GET THE CAPITAL INTO OTHER STATES, I AGREE. . BUT TO SAY TO USE THE WORD FINTECH AND SAY IT'S SOMETHING THAT WILL ALLOW THE DIFUSION OF CAPITAL THAT MEANS YOU SHOULD GET RID OF THE STATE LAWS CAPPING USERY, THAT IS GOING BACK TO THE VICTORIAN ERA. WE HAD THAT DEBATE. I WAS READING SHY LOCK -- AND THEY WERE CHARGING PEOPLE FOUR TIMES AS MUCH.

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              • 02:31:15 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN FROM CALIFORNIA RESERVES. THE GENTLEMAN FROM TEXAS IS…

                THE GENTLEWOMAN FROM CALIFORNIA RESERVES. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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              • 02:31:19 PM

                MR. HENSARLING

                MR. SPEAKER, I YIELD MYSELF 10 SECONDS TO SAY TO THE GENTLEMAN SAYING THIS…

                MR. SPEAKER, I YIELD MYSELF 10 SECONDS TO SAY TO THE GENTLEMAN SAYING THIS IS A MAJORITY BILL, THIS IS SUPPORTED BY CONGRESSMAN MEEKS, CONGRESSMAN SCOTT, DEMOCRAT OF GEORGIA, CONGRESSMAN CLEAVER, DEMOCRAT OF MISSOURI, CONGRESSWOMAN MOORE, DEMOCRAT OF WISCONSIN, CONGRESSMAN PERLMUTTER, DEMOCRAT OF COLORADO, CONGRESSWOMAN SINEMA, DEMOCRAT OF ARIZONA, AND THE LIST GOES ON. MR. SPEAKER, I AM YOU A NOW PLEASED TO YIELD FOUR MINUTES TO MR. ROTHFUS, VICE CHAIRMAN OF THE COMMITTEE ON FINANCIAL INSTITUTIONS.

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              • 02:31:59 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM PENNSYLVANIA IS RECOGNIZED.

              • 02:32:03 PM

                MR. ROTHFUS

                I THANK THE CHAIRMAN FOR YIELDING. LISTENING TO THIS DEBATE, IT SEEMS LIKE…

                I THANK THE CHAIRMAN FOR YIELDING. LISTENING TO THIS DEBATE, IT SEEMS LIKE SOME PEOPLE WANT TO KNOW ON -- VOTE NO ON THIS BILL WHEN THERE ARE PLENTY OF REASONS TO VOTE YES. I RISE IN SUPPORT OF H.R. 3299, THE PROTECTING CONSUMER ACCESS TO CREDIT ACT. I ALSO WANT TO COMMEND HIM FOR HIS HARD WORK ON THIS IMPORTANT ISSUE. UNDER THE VALID WHEN MADE DOCTRINE, THE INTEREST RATE ON A LOAN THAT COMPLIES WITH FEDERAL LAW WHEN IT IS MADE WILL REMAIN VALID REGARDLESS WHETHER THAT LOAN IS TRANSFERRED TO A THIRD PARTY. THIS IS AN IMPORTANT PRINCIPLE, AND IT IS ESSENTIAL TO MAINTAINING A VIBRANT SECONDARY MARKET AND FOSTERING CONTINUED GROWTH IN THE ONLINE LENDING INDUSTRY. THE SECOND CIRCUIT'S DECISION IN MADDEN V. MIDLAND, WHICH CHALLENGED THE VALID WHEN MADE DOCTRINE THREATENED BOTH THE SECONDARY MARKET AND FINTECH LENDING PARTNERSHIPS. THIS ULTIMATELY HURTS CONSUMERS. AT THE FINANCIAL SERVICES COMMITTEE WE HAVE EXTENSIVELY DISCUSSED THE DIFFICULTY THAT MANY AMERICANS FACE IN GETTING CREDIT. MADDEN V. MIDLAND WILL ONLY INTENSIFY THAT CHALLENGE FOR FAMILIES AND MAIN STREET BUSINESSES AS IT JEOPARDIZES THE ABILITY OF BANKS TO SELL LOANS INTO THE SECONDARY MARKET. IF BANKS FIND IT DIFFICULT TO SELL DEBT TO NONBANKS, A COMMON AND HEALTHY PRACTICE, THEY WILL BE FORCED TO BECOME MORE RESTRICTIVE IN OFFERING CREDIT AND THEY MAY DO SO AT A HIGHER COST. BECAUSE OF THIS, FEWER CONSUMERS WILL BE ABLE TO ACCESS THE FUNDS THEY NEED TO BUILD, INVEST AND INNOVATE. THROUGHOUT THE COURSE OF THE SLOW AND UNEVENED POSTECONOMIC RE-- POSTCRISIS ECONOMIC RECOVERY, WE SETTLED INTO A TWO-SPEED ECONOMY, THE BIGGEST AND RICHEST AND BEST CONNECTED FIRMS HAVE DONE JUST FINE. THEY HAVE A RELATIVELY EASY TIME ACCESSING FUNDS. SMALL BUSINESSES, HOWEVER, HAVE BEEN STRUGGLING TO KEEP UP. IN FACT, MANY HAVEN'T EVEN GOTTEN OFF THE GROUND. RESEARCHERS FOUND THAT OUR ECONOMY IS CURRENTLY MISSING 650,000 SMALL BUSINESSES. THAT IS 650,000 FEWER BUSINESSES THAT CAN INNOVATE, CREATE JOBS, AND INVEST IN OUR COMMUNITIES. THOSE 650,000 BUSINESSES WOULD HAVE REPRESENTED 6 1/2 MILLION JOBS, 6 1/2 MILLION TAXPAYERS, 6 1/2 MILLION PEOPLE CONTRIBUTING TO HELP SOCIAL SECURITY AND MEDICARE AND HELPING TO PAY FOR OUR VETERANS' CARE. ANYONE WHO TRAVELS THIS COUNTRY TALKING TO SMALL BUSINESS OWNERS KNOWS THAT ACCESS TO CREDIT IS A MAJOR CAUSE. BY CODIFYING VALID WHEN MADE, THIS BILL WILL HELP TO ADDRESS ONE OF THE MOST PRESSING THREATS TO OUR ECONOMIC RECOVERY AND THE RESURGENCE OF AMERICAN SMALL BUSINESS. AS THE O.C.C.'S FORMER ACTING COMPTROLLER NOTED, THIS PROPOSAL SUPPORTED ECONOMIC OPPORTUNITY -- SUPPORTS ECONOMIC OPPORTUNITY. H.R. 3299 WILL HELP KEEP CREDIT FLOWING TO THOSE WHO NEED IT WHILE ENSURING CONSUMERS ARE PROTECTED. THIS IS A COMMONSENSE FIX THAT PROVIDES THE MARKET WITH THE CLARITY NEEDED TO SUPPORT CONTINUED ECONOMIC GROWTH. I URGE MY COLLEAGUES TO SUPPORT THE PROTECTING CONSUMER ACCESS TO CREDIT ACT, AND I YIELD BACK.

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              • 02:35:31 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

              • 02:35:33 PM

                MS. WATERS

                THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, BOTH OF THE GENTLEMEN, MR.…

                THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, BOTH OF THE GENTLEMEN, MR. MCHENRY AND MR. ROTHFUS, WHO ARE, YOU KNOW, ADVANCING THIS LEGISLATION, COME FROM STATES THAT DON'T SUPPORT IT. MR. MCHENRY, NORTH CAROLINA, HAS BANNED PAYDAY LENDING. MR. ROTHFUS, PENNSYLVANIA, HAS BANNED PAYDAY LENDING. AND HERE YOU HAVE A BILL THAT WOULD ALLOW PAYDAY LENDERS TO BUY UP DEBT FROM NATIONAL BANKS AND BASICALLY CHARGE CONSUMERS WHATEVER THEY WOULD LIKE TO CHARGE THEM. THEY WOULD GET AROUND THE BANFF YOUR OWN STATES. DO YOU REALLY WANT -- BAN OF YOUR OWN STATES. DO YOU REALLY WANT TO DO THIS? I RESERVE THE BALANCE OF MY TIME.

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              • 02:36:24 PM

                TEMPORE MEMBERS

                MEMBERS ARE REMINDED TO DIRECT THEIR REMARKS TO THE MEDICARE. THE…

                MEMBERS ARE REMINDED TO DIRECT THEIR REMARKS TO THE MEDICARE. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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              • 02:36:28 PM

                MR. HENSARLING

                MR. SPEAKER, I'M NOW PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                MR. SPEAKER, I'M NOW PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM NORTH CAROLINA, MR. PITTENGER, THE VICE CHAIRMAN OF THE TERRORISM AND ILLICIT FINANCE SUBCOMMITTEE.

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              • 02:36:37 PM

                MR. PITTENGER

                MR. SPEAKER, THANK YOU FOR YOUR LEADERSHIP. THANKS TO CONGRESSMAN MCHENRY.…

                MR. SPEAKER, THANK YOU FOR YOUR LEADERSHIP. THANKS TO CONGRESSMAN MCHENRY. MR. SPEAKER, I RISE TO SAY REGRETFULLY THIS RULING, MADDEN V. MIDLAND, IS JUST ANOTHER LAYER OF BIG BROTHER, A MISGUIDED RULING BY SOME PEOPLE OF GOOD INTENTIONS AND GOOD WILL, BUT THE NET EFFECT IS FEWER CHOICES FOR THE AMERICAN PEOPLE. I THINK, MR. SPEAKER, WE'VE SEEN WHAT HAPPENED AS A RESULT OF DODD-FRANK. WE SAW WHAT HAPPENED TO THE AMERICAN ECONOMY. WE SAW WHAT HAPPENED TO THE AMERICAN CONSUMERS. REGRETTABLY, MR. SPEAKER, IT'S THE LOW-INCOME MINORITY PEOPLE WHO SUFFERED THE MOST IN THE LAST DECADE AS A RESULT OF THE MISGUIDED REGULATIONS THAT WERE PUT UPON THE AMERICAN PEOPLE. BIG BROTHER DOESN'T HAVE THE ANSWERS. WHAT WE DO HAVE IS THE OPPORTUNITY TO PROVIDE CHOICES TO THE AMERICAN PEOPLE AND THAT'S WHERE H.R. 3299 IS ALL ABOUT. IN NORTH CAROLINA, MR. SPEAKER, WE LOST 50% OF OUR BANKS BECAUSE OF THESE MISGUIDED REGULATE OVERMANAGEMENT BY THE FEDERAL GOVERNMENT. THERE'S LESS ACCESS TO CAPITAL AND CREDIT FOR SMALL BUSINESS. THERE'S LESS ACCESS TO CAPITAL FOR THAT INDIVIDUAL WHO HAS A REAL NEED. MAYBE THEY WANT TO START SOMETHING. MAYBE THEY HAVE AN EMERGENCY IN THEIR FAMILY. THIS IS WHAT THIS BILL IS ALL ABOUT. WE NEED TO BE BEHIND IT. WE NEED TO SUPPORT IT. WE NEED TO UNDERSTAND THAT THE AMERICAN PEOPLE KNOW HOW TO MAKE GOOD CHOICES. WE NEED TO TRUST THE AMERICAN PEOPLE AND NOT TRUST THE BIG BROTHER AND THE BIG GOVERNMENT. THANK YOU AND I YIELD BACK.

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              • 02:38:07 PM

                MS. WATERS

                MR. SPEAKER, I'D LIKE TO REMIND MR. PITTENGER THAT HIS STATE, NORTH…

                MR. SPEAKER, I'D LIKE TO REMIND MR. PITTENGER THAT HIS STATE, NORTH CAROLINA, AGAIN, ALONG WITH MR. MCHENRY, ATTORNEYS GENERALS HAVE OPPOSED THIS BILL. THEY DO NOT LIKE THIS BILL, AND I JUST WANT TO REMIND THEM THAT THEY DON'T HAVE THE SUPPORT OF THEIR STATES IN DOING SO. WITH THAT I WOULD YIELD TWO MINUTES TO THE GENTLELADY FROM NEW YORK, THE RANKING MEMBER OF THE CAPITAL MARKETS SUBCOMMITTEE ON THE FINANCIAL SERVICES COMMITTEE, MRS. MALONEY.

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              • 02:38:41 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLELADY FROM NEW YORK IS RECOGNIZED.

              • 02:38:43 PM

                MRS. MALONEY

                I THANK THE RANKING MEMBER FOR YIELDING AND FOR HER EXTRAORDINARY EFFORTS…

                I THANK THE RANKING MEMBER FOR YIELDING AND FOR HER EXTRAORDINARY EFFORTS TO PROTECT CONSUMERS BY OPPOSING THIS BILL. I RISE IN VERY STRONG OPPOSITION TO H.R. 3299. I DON'T THINK WE SHOULD BE DOING ANYTHING TO TAKE AWAY STATES' AUTHORITY TO ENFORCE THEIR OWN USURY LAWS WHICH MAKE IT ILLEGAL FOR LENDERS TO CHARGE OUTRAGEOUSLY HIGH INTEREST RATES ON THEIR RESIDENTS. THIS IS A CORE CONSUMER PROTECTION ISSUE, AND IF WE ALLOW LENDERS THAT AREN'T SUBJECT TO THE STRICT FEDERAL REGULATIONS FOR BANKS TO CIRCUMVENT STATE REGULATIONS TO, THEN WE'RE JUST THROWING CONSUMERS TO THE WOLVES. REMOVING PROTECTIONS. I KNOW THAT SOME PEOPLE HAVE CLAIMED THAT THIS BILL WOULD PROMOTE INOWE VATION BY ALLOWING FINANCIAL TECHNOLOGY COMPANIES TO BETTER SERVE LOWER INCOME CUSTOMERS. BUT LET'S BE CLEAR. THE ONLY LOANS THAT WOULD BE ALLOWED BY THIS BILL, THAT AREN'T ALREADY ALLOWED, ARE LOANS THAT VIOLATE STATE USURY LAWS THAT ARE PUT IN PLACE BY STATES TO PROTECT THEIR CONSUMERS. WHY IN THE WORLD WOULD WE WANT TO DO THAT TO PEOPLE? AND I'M SORRY, BUT THERE'S NOTHING INNOVATIVE ABOUT USURY. AND THERE'S NOTHING INNOVATIVE ABOUT GOUGING LOW-INCOME CONSUMERS WITH OUTRAGEOUS INTEREST RATES. THIS IS A TERRIBLE, TERRIBLE BILL. SO THIS BILL IS NOT ABOUT INNOVATION. IT'S ABOUT TAKING AWAY PROTECTIONS FOR CONSUMERS FROM PREDATORY LOANS. WHY IN THE WORLD WOULD WE WANT TO DO THAT TO PEOPLE? I URGE MY COLLEAGUES, I URGE THEM TO PROTECT CONSUMERS AND TO OPPOSE THIS BILL. AND I YIELD BACK.

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              • 02:41:04 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 02:41:09 PM

                MR. HENSARLING

                MR. SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                MR. SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM COLORADO, MR. TIPTON, VICE CHAIRMAN OF THE SUBCOMMITTEE ON OVERSIGHT AND INVESTIGATIONS.

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              • 02:41:17 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM COLORADO IS RECOGNIZED.

              • 02:41:19 PM

                MR. TIPTON

                MR. SPEAKER, THANK YOU FOR THE TIME. INTERESTING BEING ABLE TO LISTEN TO…

                MR. SPEAKER, THANK YOU FOR THE TIME. INTERESTING BEING ABLE TO LISTEN TO THIS DEBATE. THE COMMON GROUND IS WE WANT TO BE ABLE TO HAVE CONSUMERS HAVE ACCESS TO CAPITAL AND WE ALSO WANT RESPONSIBLE LENDING. WE NOW NEED TO RESET THIS DEBATE TO THE REALITY THAT'S BEING FACED ON THE GROUND. IN AN ALREADY CHALLENGING LOAN ENVIRONMENT FOR MANY BANKS NATIONWIDE, MADDEN V. MIDLAND DECISION HAS FURTHER LIMITED THE ABILITY OF NATIONAL BANKS TO BE ABLE TO ISSUE CREDIT. BECAUSE OF THE COURT'S DECISION NOT TO APPLY THE VALID WHEN MADE DOCTRINE TO ITS DECISION WHICH WOULD HAVE PRESERVED LAWFUL INTEREST RATES, ACCESS TO CREDIT AND RISK MITIGATION TOOLS HAVE BEEN PLACED INTO JEOPARDY. THE LEGAL UNCERTAINTY RESULTING FROM THE MADDEN DECISION HAS LED TO A REDUCTION IN RESPONSIBLE AND AFFORDABLE LENDING AND HAS LIMITED CONSUMERS' ACCESS TO BETTER AND CHEAPER CHOICES. FORTUNATELY, THE VICE CHAIRMAN'S LEGISLATION, THE PROTECTING CONSUMER ACCESS TO CREDIT ACT, WOULD REASSERT THE VALID WHEN MADE PRINCIPLE, TO ENSURE THAT A LOAN THAT IS VALID AT ITS INCEPTION CANNOT BECOME INVALID OR ENFORCEABLE UPON ITS SUBSEQUENT TRANSFER TO ANOTHER PERSON OR THIRD. THIS LEGISLATION PROMOTES HEALTHY FINANCIAL MARKETS AND WOULD HELP IMPROVE THE OFTEN LIMITING LOAN ENVIRONMENT FACING BANKS NATIONWIDE. THIS IS IMPORTANT FOR OUR FAMILIES, SMALL BUSINESSES FOR WHOM ACCESS TO CREDIT IS CRITICAL TO SUCCESS. FURTHER, THIS LEGISLATION ENSURES THAT INNOVATIVE MARKETPLACE LENDING REMAINS INTACT WHILE SIMULTANEOUSLY PROVIDING SAFE CONSUMER PROTECTIONS. I'D LIKE TO THANK MR. MCHENRY IN SUPPORTING AND DEVELOPING THIS BIPARTISAN LEGISLATION, TO BE ABLE TO HELP PRESERVE ACCESS TO CREDIT FOR THOSE WHO NEED IT MOST, AND TO ENCOURAGE MY COLLEAGUES TO SUPPORT THE MEASURE HERE TODAY. THANK YOU, MR. SPEAKER AND MR. CHAIRMAN. I YIELD BACK THE BALANCE OF MY TIME.

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              • 02:43:11 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

              • 02:43:14 PM

                MS. WATERS

                THANK YOU VERY MUCH, MR. SPEAKER AND MEMBERS. YOU HAVE HEARD THOSE OF US…

                THANK YOU VERY MUCH, MR. SPEAKER AND MEMBERS. YOU HAVE HEARD THOSE OF US WHO ARE OPPOSED TO THIS LEGISLATION REPEAT OVER AND OVER AGAIN THAT THIS IS ALL ABOUT PREDATORY LENDING, THAT THIS BILL WOULD OPEN THE GATES WIDE TO THE KIND OF ABUSES THAT WE HAVE BEEN FIGHTING SO HARD AGAINST, AND MRS. MALONEY FROM NEW YORK ASKED A QUESTION. WHY DO YOU WANT TO DO THIS TO YOUR CONSTITUENTS? WHY DO YOU WANT TO DO THIS TO THE VERY CONSUMERS THAT WE ARE SUPPOSED TO BE PROTECTING? AND I HAVE RAISED A QUESTION TO THOSE WHO COME FROM STATES WHERE THE ATTORNEYS GENERALS OPPOSE THIS LEGISLATION. THE GENTLEMAN FROM NORTH CAROLINA AND PENNSYLVANIA, WHO ARE HERE IN SUPPORT OF THIS BILL, THEY ARE IGNORING THE FACT THAT THEIR STATE'S ATTORNEYS GENERALS ARE SAYING THAT THIS BILL IS A BAD BILL AND, OF COURSE, IF H.R. 3299 WAS REALLY ABOUT EXPANDING ACCESS TO UNDERSERVED POPULATIONS, AS THE PROPONENTS CLAIM, THEN THEY MAY BE SURPRISED TO LEARN THAT THE NATION'S LEADING CIVIL AND CONSUMER GROUPS ARE ALL OPPOSED TO THIS LEGISLATION BECAUSE IT WILL HARM CONSUMERS, NOT HELP THEM. ACCORDING TO A NEWS ARTICLE FROM LAST NOVEMBER, QUOTE, THERE IS A REASON THE NAACP, THE SOUTHERN POVERTY LAW CENTER, THE NATIONAL CONSUMER LAW CENTER, THE CONSUMER FEDERATION OF AMERICA, AND DOZENS OF CHURCHES, WOMEN'S GROUPS AND ANTI-POVERTY ORGANIZATIONS FROM AROUND THE COUNTRY HAVE DENOUNCED THE BILL. IN SEPTEMBER, THOSE GROUPS WROTE A JOINT LETTER TO CONGRESS WARNING H.R. 4299, QUOTE, WIPES AWAY THE STRONGEST AVAILABLE TOOL AGAINST PREDATORY LENDING PRACTICES, QUOTE-UNQUOTE, AND, QUOTE, WILL OPEN THE FLOODGATES TO A WIDE RANGE OF PREDATORY ACTORS TO MAKE LOANS AT 300% ANNUAL INTEREST OR HIGHER. THE ARTICLE GOES ON TO SAY, QUOTE, BUT IF YOU DON'T -- YOU DON'T HAVE TO TAKE THE NAACP'S WORD FOR IT. JUST TAKE A LOOK AT THE COMPANIES WHO ARE LOBBYING IN FAVOR OF H.R. 3299. WELL, THEY AREN'T MANY, AS IT'S A COMPLICATED AND OBSCURE ISSUE BUT ONE OF THEM, ACCORDING TO A FEDERAL LOBBYING DISCLOSURE FORM, IS A FIRM CALLED CNU ONLINE HOLDINGS, L.L.C. MOST DON'T EVEN REALIZE THEY USE IT. . THEY ARE MORE FAMILIAR WITH THE PARENT COMPANY, PAYDAY LENDING GIANT, INNOVA FINANCIAL, OR ITS FLAGSHIP BRAND, CASHNET U.S.A. BOTTOM LINE. THIS BILL IS NOT HELPING OUR CONSUMERS BUT RATHER TO LINE THE POCKETS OF PREDATORY LENDERS WHO ARE LOOKING FOR ANY WAY AROUND STATE INTEREST RATE CAPS AND CONSUMER PROTECTIONS. I RESERVE THE BALANCE OF MY TIME.

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              • 02:46:37 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 02:46:39 PM

                MR. HENSARLING

                I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MINNESOTA, MR.…

                I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MINNESOTA, MR. EMMER, HARDWORKING MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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              • 02:46:45 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM MINNESOTA IS RECOGNIZED.

              • 02:46:47 PM

                MR. EMMER

                I THANK THE CHAIRMAN. MR. SPEAKER, I RISE TODAY TO SUPPORT ANOTHER BILL…

                I THANK THE CHAIRMAN. MR. SPEAKER, I RISE TODAY TO SUPPORT ANOTHER BILL WHICH BUILDS ON THE GOOD WORK OF THE HOUSE FINANCIAL SERVICES COMMITTEE. THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT TAKES AN IMPORTANT STEP TO PROVIDE CERTAINTY THROUGH OUR FINANCIAL SYSTEM AND TO SUPPORT CONSUMERS. A 2015 COURT DECISION THAT WE HAVE HEARD OTHER SPEAKERS TALK ABOUT TODAY, MADDEN VS. MIDLAND, IS MAKING IT DIFFICULT FOR ONLINE LENDERS TO OFFER BUSINESSES THE FUNDS THEY NEED TO GROW AND SUCCEED. IN MADDEN, THE COURT HELD THAT WHILE THE NATIONAL BANK ACT ALLOWS A FEDERALLY CHARTERED BANK TO CHARGE INTEREST UNDER THE LAWS OF ITS HOME STATE ON LOANS IT MAKES NATIONWIDE, NONBANKS THAT AGUIRRE THESE LOANS MAY NOT BE ABLE TO MAINTAIN THE SAME RATE OF INTEREST SINCE NONE BANKS ARE SUBJECT TO LIMITS OF THE BORROWER STATE. AT THAT TIME WHEN LENDERS ARE EAGER TO HELP CONSUMERS AND BUSINESSES GAIN ACCESS TO CAPITAL, CONGRESS NEEDS TO STEP IN TO CHECK THIS MISGUIDED RULING. WHEN A FEDERALLY CHARTERED BANK ORIGINATES THE INTEREST ON A LOAN, THAT INTEREST RATE SHOULD REMAIN CONSISTENT. REPRESENTATIVE MCHENRY'S LEGISLATION PROVIDES THAT FIX BY CODIFYING THE LEGAL DOCTRINE OF VALID WHEN MADE. FURTHER, IT HELPS COMMUNITY BANKS AND CREDIT UNIONS ACCESS SECONDARY MARKETS THEY NEED TO GENERATE LIQUIDITY WHILE ALSO ENABLING NEW AND EMERGING FINANCIAL TECHNOLOGY INNOVATORS TO IT FIND EASIER WAYS FOR CONSUMERS AND BUSINESSES TO ACCESS CREDIT AND CAPITAL. I APPRECIATE THE HARD WORK OF MY COLLEAGUE, OUR CHIEF DEPUTY WHIP, ON THIS IMPORTANT LEGISLATION. AND I ENCOURAGE ALL OF THE MEMBERS OF THIS BODY TO SUPPORT THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT. WE MUST FIX THE MISGUIDED MADDEN RULING AND TAKE ANOTHER STEP FORWARD IN SUPPORTING CONSUMERS. FINANCIAL INNOVATION AND OUR LENDERS THAT SERVE AS THE BACKBONE OF MAIN STREET AMERICA. THANK YOU. I YIELD BACK THE BALANCE OF MY TIME.

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              • 02:48:41 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN CALIFORNIA IS RECOGNIZED.

              • 02:48:44 PM

                MS. WTERS

                MR. SPEAKER AND MEMBERS, THIS IS ODD. HERE WE HAVE ANOTHER MEMBER OF…

                MR. SPEAKER AND MEMBERS, THIS IS ODD. HERE WE HAVE ANOTHER MEMBER OF CONGRESS WHO -- WHOSE STATE ATTORNEY GENERAL OPPOSES THE BILL AND BANNED PAYDAY LENDING. SO -- MR. EMMER IS JOINING WITH MR. MCHENRY WHOSE STATE OPPOSES THE BILL, NORTH CAROLINA. MR. PITTENGER, NORTH CAROLINA. AGAIN, THE TWO OF THEM IN OPPOSITION TO THEIR OWN STATE ATTORNEYS GENERAL. AND NOW WE HAVE MR. ROTHFUS FROM PENNSYLVANIA. AND ALL OF THESE SPEAKERS ON THE OPPOSITE SIDE OF THE AISLE WHO ARE COMING HERE TO SUPPORT A BILL THAT WILL OPEN UP THE OPPORTUNITY FOR PAYDAY LENDERS TO BASICALLY RAM A BANK AND PUT THESE PAYDAY LOANS OUT THERE AT EXORBITANT AMOUNTS. THIS IS RATHER ODD TO SEE SO MANY MEMBERS REPRESENTING, SUPPOSEDLY, THEIR CONSTITUENTS, WHO COME FROM STATES WHERE PAYDAY LENDING HAS BEEN BANNED. AND THEIR ATTORNEYS GENERALS OPPOSE THIS LEGISLATION. I RESERVE THE BALANCE OF MY TIME.

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              • 02:50:04 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 02:50:06 PM

                MR. HENSARLING

                I YIELD MYSELF TWO MINUTES.

              • 02:50:09 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN IS RECOGNIZED.

              • 02:50:11 PM

                MR. HENSARLING

                NUMBER ONE, JUST FOR THE RECORD IT'S MR. ROTHFUS OF PENNSYLVANIA. AND MR.…

                NUMBER ONE, JUST FOR THE RECORD IT'S MR. ROTHFUS OF PENNSYLVANIA. AND MR. PITTENGER OF NORTH CAROLINA. SINCE WE SERVE WITH THESE COLLEAGUES, IT WOULD BE NICE TO LEARN THEIR NAMES. MR. SPEAKER, WHAT THE RANKING MEMBER IS PROPOSING IS TO TAKE AWAY CREDIT OPPORTUNITIES FOR THOSE WHO NEED IT THE MOST. THE GREATEST CREDIT PROGRAM IS A COMPETITIVE MARKETER MARKETPLACE -- COMPETITIVE MARKETPLACE. UNFORTUNATELY, THE POLICY SHE IS ADVOCATING, THIS SECOND CIRCUIT COURT CASE, HAS CUT CREDIT OPPORTUNITIES IN HALF. THAT MEANS PEOPLE ARE PAYING MORE. IN MANY RESPECTS THIS IS A MORE USURIOUS RESULT THAN WHAT THE RANKING MEMBER IS OTHERWISE CLAIM WILL GO HAPPEN WITHOUT THE SECOND CIRCUIT DECISION. AGAIN, I ALLUDED TO IT IN MY OPENING STATEMENT, BUT WE HAVE THE DEFINITIVE ACADEMIC STUDY. WE DON'T HAVE TO GUESS AT THIS, MR. SPEAKER. THEY STUDIED THOSE WITH LOWER CREDIT SCORES IN THE SECOND CIRCUIT. WHAT DID THEY FIND OUT? THEY INDICATED THAT THE FICA -- I'LL QUOTE, THE RESULTS PRESENTED IN FIGURE 3 INDICATE THAT THE FOCO INCREASE WAS CAUSED BY A DECLINE, A DECLINE IN LENDING TO LOWER -- FICO INCREASE WAS CAUSED BY A DECLINE, A DECLINE IN LENDING TO LOWER QUALITY BOW ROWERS. THOSE WITH FICO SCORES BELOW 625. THE GROWTH RATE FOR THESE BORROWERS IN CONNECTICUT AND NEW YORK WAS A NEGATIVE 52%. MR. SPEAKER, THAT MEANS THEY HAD THEIR CREDIT OPPORTUNITIES CUT IN HALF. AND SO EXACTLY WHAT THE RANKING MEMBER SAYS THAT SHE WANTS TO DO TO HELP THESE PEOPLE, SHE'S HURTING THESE PEOPLE. TAKING AWAY THEIR OPPORTUNITIES TO BUY A HOME. TAKING AWAY THEIR OPPORTUNITIES TO BUY A CAR WHEN THEY MAY BE THE SOUL BREADWINNER FOR THEIR FAMILY. TAKING AWAY OPPORTUNITIES TO SEND SOMEBODY TO COLLEGE. I YIELD MYSELF AN ADDITIONAL 30 SECONDS.

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              • 02:52:26 PM

                MR. HENSARLING

                AND THEN THIS SO-CALLED RADICAL BILL OF THE GENTLEMAN FROM NORTH CAROLINA…

                AND THEN THIS SO-CALLED RADICAL BILL OF THE GENTLEMAN FROM NORTH CAROLINA I WOULD NOTE IT'S A DEMOCRAT BILL IN THE SENATE. THE EXACT COMPANION BILL IS CARRIED BY A DEMOCRAT SENATOR. SENATOR WARNER OF VIRGINIA. IT'S A DEMOCRAT BILL. IT'S BIPARTISAN. IT'S SUPPORTED BY AT LEAST NINE MEMBERS OF THE RANKING MEMBER'S PARTY THAT SIT WITH HER IN OUR HEARINGS. CLEARLY THEY HEARD SOMETHING SHE DIDN'T HEAR. AGAIN, MR. SPEAKER, IT IS IMPORTANT TO NOTE THAT WHAT THE SECOND CIRCUIT HAS DONE IS CHANGE SUBTLE LAW THAT'S BEEN SETTLED LAW FOR OVER 200 YEARS THAT WILL COMPLETELY, NOT ONLY CUT CREDIT OPPORTUNITIES IN THE SECOND CIRCUIT, BUT CUT CREDIT OPPORTUNITIES ALL OVER AMERICA. WE CANNOT ALLOW THAT TO HAPPEN. MR. SPEAKER, I'M NOW PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MICHIGAN, MR. TROT, A -- TROTT A. MEMBER OF THE FINANCIAL SERVICES COMMITTEE. MR. --

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              • 02:53:29 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN WILL SUSPEND. THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

              • 02:53:34 PM

                MS. WATERS

                THANK YOU VERY MUCH. MR. SPEAKER, AND MEMBERS, I THINK MY FRIEND ON THE…

                THANK YOU VERY MUCH. MR. SPEAKER, AND MEMBERS, I THINK MY FRIEND ON THE OPPOSITE SIDE OF THE AISLE, THE CHAIRMAN, IS RIGHT. I MUST MAKE SURE THAT I AM CORRECT IN THE WAY THAT I IDENTIFY MY COLLEAGUES WHO THEY ARE AND WHAT STATES THEY COME FROM. SO I'D LIKE TO REPEAT. MR. MCHENRY IS FROM NORTH CAROLINA. MR. PITTENGER IS FROM NORTH CAROLINA. AND THE ATTORNEYS GENERALS FROM BOTH OF THOSE STATES OPPOSE THIS BILL AND BOTH OF THESE STATES HAVE BANNED PAYDAY LENDING. ALSO LET ME JUST MENTION THAT MR. ROTHFUS FROM PENNSYLVANIA IS ANOTHER ONE WHO IS OPPOSED BY HIS ATTORNEY GENERAL. HIS ATTORNEY GENERAL IS OPPOSED TO THIS BILL, IS OPPOSED TO HIS REPRESENTATION, AND PENNSYLVANIA HAS BANNED PAYDAY LENDING. AND OF COURSE, WE WERE JOINED BY MR. EMMER WHO IS FROM MINNESOTA. MINNESOTA IS IN THE SAME POSITION THAT EVERYBODY UNDERSTANDS WHO THESE MEMBERS ARE THAT ARE COMING HERE IN OPPOSITION TO THEIR ATTORNEYS GENERAL AND OPPOSITION TO THEIR STATE. THESE ARE REPRESENTATIVES FROM STATES THAT OPPOSE THIS BILL. THESE ARE REPRESENTATIVES FROM STATES WHO HAVE BANNED PAYDAY LENDING. AND SO I WANT TO BE SURE THAT I AGREE WITH MY CHAIRMAN, WE SHOULD LET EVERYONE KNOW WHO THEY ARE. WE SHOULD PRONOUNCE THEIR NAMES CORRECTLY. WE SHOULD BE SURE THAT THEY UNDERSTAND ALL OF THEIR -- ALL OF THEIR CONSTITUENTS UNDERSTAND WHO THEIR REPRESENTATIVES ARE AND WHAT THEY ARE DOING HERE TODAY ON THIS BILL THAT WILL HELP TO EXPLODE PREDATORY LENDING. THIS IS THE RENT A BANK BILL THAT WOULD ALLOW PAYDAY LENDERS TO BUY UP DEBT FROM NATIONAL BANKS AND BE ABLE TO CHARGE WHATEVER THEY WOULD LIKE, 300% AND MORE, TO UNSUSPECTING CONSUMERS. SO THANK YOU, MR. CHAIRMAN, FOR HELPING ME TO MAKE THAT CLEAR. I RESERVE THE BALANCE OF MY TIME.

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              • 02:56:21 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 02:56:24 PM

                MR. HENSARLING

                YIELD MYSELF 10 SECONDS JUST TO SAY APPARENTLY MR. MEEKS IS ABUSING THESE…

                YIELD MYSELF 10 SECONDS JUST TO SAY APPARENTLY MR. MEEKS IS ABUSING THESE CONSUMERS AS IS MR. CLAY AS IS MR. SCOTT AS IS MR. CLEAVER AS IS MS. MOORE, AS IS MR. PERLMUTTER, AS IS MS. SINEMA, AND AS IS MR. HECK, AND AS IS MR. GOTTHEIMER, ALL DEMOCRATS ON THE HOUSE FINANCIAL SERVICES COMMITTEE THAT ACTUALLY SUPPORT THIS LEGISLATION. NOW, MR. CHAIRMAN, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MICHIGAN, MR. TROTT, A MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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              • 02:56:57 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM MICHIGAN IS RECOGNIZED.

              • 02:56:59 PM

                MR. TROTT

                I THANK THE CHAIRMAN FOR YIELDING. MR. SPEAKER, I RISE IN SUPPORT OF H.R.…

                I THANK THE CHAIRMAN FOR YIELDING. MR. SPEAKER, I RISE IN SUPPORT OF H.R. 3299, THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT. I THANK MY GOOD FRIEND FROM NORTH CAROLINA, MR. MCHENRY, FOR HIS LEADERSHIP ON THIS BIPARTISAN COMMONSENSE BILL. THIS IS A COMMONSENSE PIECE OF LEGISLATION THAT IS SPONSORED BY TWO REPUBLICANS, TWO DEMOCRATS. IT PASSED OUT OF OUR COMMITTEE WITH A VOTE OF 42-17. IT IS THE KIND OF BIPARTISAN SOLUTION THAT THE AMERICAN PEOPLE EXPECT FROM THEIR ELECTED OFFICIALS. YET OPPONENTS OF THIS BILL WANT PEOPLE TO BELIEVE THAT IT WILL HURT CONSUMERS. WE HEARD SIMILAR RHETORIC ON THE RECENT TAX BILL PASSED IN CONGRESS. WE STILL HEAR IT EVEN THOUGH MILLIONS OF AMERICANS ARE GETTING BONUSES, TAKING NEW AND BETTER JOBS, AND SEEING THEIR SAVINGS ACCOUNT GROW. LET'S BE CLEAR, THIS BILL WILL ALLOW BANKS AND CREDIT UNIONS TO SELL CERTAIN LOANS TO INVESTORS, THUS DIVERSE FILING THEIR RISK AND FREEING UP CAPITAL THAT CAN BE USED TO ISSUE MORE LOANS IN LOCAL COMMUNITIES. IMAGINE THAT. WHY IS THIS COMMONSENSE LEGISLATION NECESSARY? RECENT CASE OUT OF THE SECOND CIRCUIT RULED THAT CERTAIN LOANS WOULD BE VALID WHEN HELD ON THE BOOKS OF BANK BUT INVALID THE MINUTE THEY ARE SOLD TO INVESTORS. I FAIL TO SEE HOW THIS LOAN -- HOW A LOAN BECOMES MORE DANGEROUS OR OTHERWISE PROBLEMATIC BECAUSE THE OWNER OF THE LOAN HAS CHANGED. THIS IS LIKE SAYING A HOUSE'S ROOF BECAUSE LEAKY THE MINUTE YOU SELL IT TO YOUR NEIGHBOR. THIS IS THE SORT OF LOGIC THAT CAN ONLY THRIVE IN WASHINGTON. WHAT HAPPENS WHEN BANKS AND CREDIT UNIONS CAN NO LONGER SELL LOANS ON THE PUBLIC MARKET? THEY ISSUE FEWER LOANS. FEWER YOUNG PARENTS CAN GET A MORTGAGE FOR THEIR NEW HOME. FEWER SINGLE MOTHERS CAN GET A LOAN FOR A NEW CAR. 8 GET A MORTGAGE FOR -- FEWER STUDENTS CAN GET A CRITICAL LOAN. FEWER BUSINESS CAN GET LOANS TO BRING INNOVATIVE IDEAS TO THE MARKET TO CREATE JOBS. THIS BILL IS NOT RENT A BANK. IT WILL NOT RESULT IN USURIOUS INTEREST RATES. I WAS AT A RESTAURANT AND STRUCK UP A CONVERSATION WITH THE WAITRESS. SHE CAN'T GET A MORTGAGE. SHE CAN'T BUY A HOME EVEN THOUGH HER AND HER HUSBAND HAVE GOOD CREDIT. THAT'S THE PROBLEM WE'RE TRYING TO ADDRESS. I WOULD ASK THE OPPONENTS OF THIS BILL TO PUT ASIDE POLITICS, JOIN ME IN SUPPORTING LEGISLATION THAT WILL HELP YOUNG FAMILIES, BUSINESSES, AND STUDENTS. THIS BILL WILL MAKE CREDIT ACCESSIBLE. I URGE ALL MEMBERS TO VOTE FOR IT AND I YIELD BACK THE BALANCE OF MY TIME.

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              • 02:59:19 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

              • 02:59:22 PM

                MS. WATERS

                THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, CHAIRMAN HENSARLING HAS…

                THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, CHAIRMAN HENSARLING HAS NAMED THE MEMBERS ON MY SIDE OF THE AISLE, THE DEMOCRATS, THAT SUPPORT THIS BILL. NONE OF THEM ARE ON THE FLOOR AT THIS TIME. NONE OF THEM CAME HERE TO DEFEND THE POSITION THAT THEY TOOK. SOME OF THEM ARE RECONSIDERING THE VOTE THAT THEY TOOK. AND SO I DON'T WANT HIM TO TRY AND WRAP THIS BILL AROUND THE FACT THAT THERE WAS SOME DEMOCRATS THAT SUPPORTED IT. THIS IS A REPUBLICAN BILL. THIS IS A BILL BY THE OPPOSITE SIDE OF THE AISLE THAT SUPPORTS PAYDAY LENDING, AND THE ABILITY FOR PAYDAY LENDERS TO CONTINUE TO EXPLOIT THEIR CONSUMERS IN A NEW AND DIFFERENT WAY. THEY SIMPLY ALLOW THEM TO BUY UP THIS DEBT FROM THE NATIONAL BANKS AND BE ABLE TO BASICALLY OVERCOME USURY LAWS. SO WHILE HE WOULD LIKE EVERYONE TO BELIEVE THERE'S ALL THIS GREAT DEMOCRAT SUPPORT AND HE KEEPS SAYING OVER AND OVER AGAIN HOW BIPARTISAN THIS BILL IS, NONE OF THEM ON THE FLOOR AT THIS TIME. NONE OF THEM CAME HERE TO DEFEND THEIR POSITION. NONE OF THEM HAVE SAID I KNOW THAT I'M ABSOLUTELY CORRECT AS A MATTER OF FACT. SOME OF THEM ARE RAISING QUESTIONS ABOUT WHETHER OR NOT THEY SHOULD HAVE VOTED FOR THE BILL. UNDERSTANDING IT IN ONE PARTICULAR WAY AND SOME NOW UNDERSTANDING WHAT IT REALLY DOES. . I THANK THE GENTLEMAN FOR HIS POSITION, AND I THANK HIM FOR BEING A STRONG ADVOCATE FOR HIS POSITION. I THANK HIM FOR AT LEAST STEPPING UP TO THE PLATE TO SAY IN ESSENCE, HE BELIEVES HE'S DOING THE RIGHT THING DESPITE THE FACT THAT HE HAS MEMBERS ON THAT SIDE OF THE AISLE WHO ARE GOING AGAINST THEIR OWN STATES' ATTORNEY GENERALS. THIS IS NOT A GREAT DEMOCRATIC BILL. AND I RESERVE.

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              • 03:01:35 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 03:01:39 PM

                MR. MCHENRY

              • 03:02:02 PM

                THE SPEAKER PRO TEMPORE

                NORTH CAROLINA. THE SPEAKER PRO TEMPORE: THE GENTLEMAN IS RECOGNIZED.

              • 03:02:06 PM

                MR. BUDD

                I THANK THE CHAIRMAN. I RISE TODAY IN STRONG SUPPORT OF THIS BIPARTISAN…

                I THANK THE CHAIRMAN. I RISE TODAY IN STRONG SUPPORT OF THIS BIPARTISAN LEGISLATION, THE PROTECTING CONSUMERS' ACCESS TO CREDIT ACT OF 2017. MR. SPEAKER, WE ARE ON THE VERGE OF SOMETHING SPECIAL IN THE FINANCIAL SERVICES SPACE WITH TECHNOLOGY OPENING THE INDUSTRY UP TO AMAZING INNOVATION. HOWEVER, AS MANY OF US GATHERED HERE TODAY KNOW THE SECOND CIRCUIT'S DECISION IN THE MADDEN CASE HAS PUT THIS MOVEMENT IN JEOPARDY AND DONE SO BY UNDERMINING A PRINCIPLE WHICH ALLOWED FINTECH LENDERS WITH ISSUES THAT NEED TO BE ADDRESSED. LUCKILY, MR. MCHENRY'S LEGISLATION PROVIDES A FIX TO THE SECOND CIRCUIT'S DECISION BY CODIFYING VALID WHEN MADE LEGAL DOCTRINE. THIS HAS BEEN AROUND AND ACCEPTED IN THE FINANCIAL SERVICES SPACE FOR SOME TIME. THIS

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              • 03:03:03 PM

                MR. WILLIAMS

                ALLOW CREATIVE SOURCES OF CAPITAL TO REACH THE ZUMER AND SMALL BUSINESSES…

                ALLOW CREATIVE SOURCES OF CAPITAL TO REACH THE ZUMER AND SMALL BUSINESSES AND THIS IS IMPORTANT BECAUSE IT WILL HELP TO PRESERVE THE RELATIONSHIP BETWEEN BANKS AND FINTECH FIRMS. I'M THANKFUL THIS LEGISLATION IS COMING UP FOR A VOTE TODAY BECAUSE IT IS DEBATELY NEEDED AND IF ENACTED WILL HELP OUR ECONOMY CONTINUE TO GROW. THIS BODY MUST CONTINUE TO SERVE AS AN ADVOCATE FOR INNOVATION IN THE CREDIT AND TECHNOLOGY SPACE BECAUSE IT WILL BENEFIT COMMUNITY DEVELOPMENT, JOB CREATION AND MOST IMPORTANTLY THE CONSUMER. MR. SPEAKER, I URGE ADOPTION OF THIS BIPARTISAN AND COMMONSENSE PIECE OF LEGISLATION. I YIELD BACK.

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              • 03:03:44 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

              • 03:03:48 PM

                MS. WATERS

                THERE WAS A REFERENCE TO SENATOR WARNER. AND HE SAID THAT THE MADDEN FIX…

                THERE WAS A REFERENCE TO SENATOR WARNER. AND HE SAID THAT THE MADDEN FIX BILL MUST ADDRESS PAYDAY LOOPHOLES. I ALLUDED TO THIS KIND OF THINKING ABOUT THOSE WHO MAY HAVE SUPPORTED THE BILL WITHOUT REALLY GIVING A LOT OF THOUGHT TO THIS LOOPHOLE BUT I WANT YOU TO KNOW THAT EVEN THE AUTHOR OF THE BILL, SENATOR WARNER, IS SAYING THAT MADDEN FIX BILL MUST ADDRESS PAYDAY LENDER LOOPHOLES. WITH THAT, MR. SPEAKER, I HAVE NO MORE SPEAKERS. AND NO MORE FURTHER REQUESTS FOR TIME AND I'M PREPARED TO CLOSE. SO I YIELD MYSELF THE REMAINDER OF MY TIME. H.R. 3299 IS A BILL THAT WOULD MAKE IT EASIER FOR BAD ACTORS TO GET AROUND INTEREST RATE CAPS THAT STATES HAVE PUT INTO PLACE TO PROTECT BORROWERS FROM PAYDAY TRAPS. THE AVAILABILITY OF AFFORDABLE CREDIT IS VERY IMPORTANT IN EVERY COMMUNITY AND WE SHOULD WORK TOGETHER ON WAYS TO MAKE SURE THAT UNDERSERVED COMMUNITIES HAVE FAIR ACCESS TO CREDIT AND BANKING SERVICES. BUT MEASURES LIKE H.R. 3299 DO NOT ADVANCE THAT GOAL. IN FACT, THE BILL WOULD DO THE OPPOSITE. IT WOULD OPEN THE DOOR FOR NONBANKS TO IGNORE PROTECTIONS AND MAKE LOANS WITH HIGH INTEREST RATES. THE BILL WOULD USHER IN A WAVE OF HARMFUL HIGH-COST PAYDAY LOANS IN STATES WHERE THESE LOANS WERE PREVIOUSLY DISALLOWED. LAST MONTH, MICK MULVANEY WHO PRESIDENT TRUMP ILLEGALLY APOINTED TO BE HEAD OF THE CONSUMER FINANCIAL PROTECTION BUREAU DIRECTED THE CONSUMER BUREAU TO RECONSIDER ITS SENSIBLE AND MUCH NEEDED RULE ON PAYDAY VEHICLE TITLES AND CERTAIN HIGH COST INSTALLMENT LOANS. THAT RULE PLACED UNDER THE LEADERSHIP WOULD REQUIRE PAYDAY LENDERS TO ENSURE THAT CONSUMERS CAN AFFORD TO PAY OFF THEIR LOANS. DONALD TRUMP AND MULVANEY ARE UNDERMINING THE CONSUMER BUREAU RULE AND ROLLING BACK AND UNDERMINING THE CRITICAL PROTECTIONS PUT IN PLACE BY DEMOCRATS IN THE DODD-FRANK REFORM AND CONSUMER PROTECTION ACT. AND TO RECONSIDER THE PAYDAY RULE, MULVANEY HAS DRAWN A LAWSUIT AGAINST A GROUP OF PAYDAY LENDERS WHO ALLEGEDLY FAILED TO DISCLOSE THE TRUE COST OF LOANS WHICH HAD INTEREST RATES AS HIGH AS 950% A YEAR. CONGRESS SHOULD BE STANDING UP AND ENHANCING PROTECTIONS FOR OUR CONSUMERS, NOT LEGISLATING, TO MAKE IT EASIER FOR HARD-WORKING AMERICANS TO BE DRAWN INTO PAYDAY DEBT TRAPS. THIS IS OPPOSED BY OVER 200 CONSUMER AND CIVIL RIGHTS GROUPS, INCLUDING THE LEADERSHIP CONFERENCE ON CIVIL AND HUMAN RIGHTS, THE NAACP, THE NATIONAL CONSUMER LAW CENTER, THE SOUTHERN POVERTY LAW CENTER AND MANY, MANY OTHERS. AND SO, I THINK IT IS CLEAR WHAT WE ARE ADVOCATING ON THIS SIDE OF THE AISLE, WE'RE SIMPLY SAYING THAT WE SHOULD NOT CREATE THIS LOOPHOLE. THAT WE SHOULD UNDERSTAND THE STRUGGLE THAT MANY OF US HAVE BEEN IN TO TRY AND KEEP PAYDAY LENDERS FROM GOING INTO THE MOST VULNERABLE NEIGHBORHOODS TARGETING THE MOST VULNERABLE PEOPLE, TAKING ADVANTAGE OF FOLKS WHO HAVE NO PLACE TO TURN AND WHO NEED A FEW DOLLARS UNTIL PAY DAY, TAKING ADVANTAGE OF THEM AND TRAPPING THEM INTO THESE LOANS AND CREATING ALL OF THIS DEBT FOR THEM. AND THIS WOULD JUST GO A LONG WAY TO CONTINUE THAT KIND OF MADNESS. AND SO I WOULD URGE MEMBERS TO VOTE NO ON THE BILL. AND WITH THAT, I YIELD BACK THE BALANCE OF MY TIME

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              • 03:08:12 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 03:08:16 PM

                MR. MCHENRY

                I YIELD TWO MINUTES TO THE GENTLEMAN FROM INDIANA.

              • 03:08:23 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN IS RECOGNIZED. HOLE MOL I SPECIFICALLY --

              • 03:08:30 PM

                MR. HOLINGSWORTH

                THE REGULATIONS THAT ARE HOLDING BACK CONSUMERS FROM GETTING THE PRODUCTS…

                THE REGULATIONS THAT ARE HOLDING BACK CONSUMERS FROM GETTING THE PRODUCTS THEY WANT AND WE TALK ABOUT THEM IN SWEEPING TERMS. THIS IS A DAY WHEREIN THIS BILL WE ARE CODIFYING WHAT HAS BEEN THE LAW OF THE LAND FOR OVER FIVE DECADES. WHAT IS CURRENTLY THE LAW OF THE LAND IN 47 OUT OF 50 STATES. SO NOT ONLY HAS THIS HISTORICICALLY BEEN THE CASE WHAT WE ARE ARGUING HERE FOR BUT IT IS THE CASE IN 47 OUT OF 50 STATES. AND I DON'T THINK THOSE THREE STATES, THE CONSUMERS OF THOSE THREE STATES SHOULD BE DISADVANTAGED BY NOT BEING ABLE TO GROW BETTER FUTURES. THAT'S WHAT I HEAR BACK HOME. THEY WANT THE OPPORTUNITY TO GET LOANS, TO GET CREDIT AND MORE CHANCES FOR THEM TO BUILD BETTER FINANCIAL FUTURES AND THIS BILL DOES THAT. IT SOLVES THE PROBLEM OF UNCERTAINTY IN CAPITAL. THIS MAKES CLEAR WHAT HAS BEEN. IT DOESN'T CHANGE THE LAWS OR IMPACT PAYDAY BUT MERELY RESTATES THAT WHICH WE HAVE OPERATED UNDER FOR DECADES BEFORE THIS SECOND SICT DECISION AND SAYS THE LAW IN 47 STATES SHOULD BE THE LAW IN 50 STATES. VALID WHEN MADE IS AN IMPORTANT ASPECT OF OUR FINANCIAL MARKETS AND TURN OVER CAPITAL FREQUENTLY AND GET CAPITAL OUT TO MORE INDIVIDUALS. AND THAT'S WHAT WE ARE HERE FIGHTING FOR, MAKING SURE EVERYONE GETS THE OPPORTUNITY TO PARTICIPATE IN A BETTER ECONOMY BY BUILDING A FINANCIAL FUTURE AND H.R. 3299 GOES A LONG WAY IN SOLVING THAT PROBLEM BY A VERY SIMPLE, VERY NARROW FIX AND ENSURING THOSE THREE STATES GET TO PARTICIPATE IN THE BENEFIT OF A VIBRANT MARKET. SO I RISE IN SUPPORT OF THE LEGISLATION AND ENCOURAGE ALL MEMBERS HERE TO SUPPORT THIS LEGISLATION.

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              • 03:10:34 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

              • 03:10:37 PM

                MR. MCHENRY

                MAY I INQUIRE HOW MUCH TIME I HAVE REMAINING?

              • 03:10:40 PM

                THE SPEAKER PRO TEMPORE

                THE GENTLEMAN HAS A MINUTE AND A HALF REMAINING.

              • 03:10:45 PM

                MR. MCHENRY

                I YIELD MYSELF THE --

              • 03:10:48 PM

                MR. HENSARLING

                I YIELD MYSELF THE REMAINING TIME. LET ME TAKE THE LIBERTY OF QUOTING FROM…

                I YIELD MYSELF THE REMAINING TIME. LET ME TAKE THE LIBERTY OF QUOTING FROM CONGRESSMAN GREG MEEKS, DEMOCRAT OF NEW YORK, THE LEAD DEMOCRAT CO-SPONSOR OF THE BILL WHO SAID DURING MARKUP SAID QUOTE, THIS BILL WOULD FACILITATE AFFORDABLE LENDING TO THOSE WHO NEED IT THE MOST. HE GOES ON TO SAY H.R. 3299 IS A COMMUNITY BANK BILL AND PROVIDED THESE INSTITUTIONS WITH EXPERTISE NEEDED TO CONTEND WITH LARGER COMPETITORS. THERE ARE FINTECH FIRMS ENGAGING WITH BLACK-OWNED BANKS WHO HAVE BENEFITED TREMENDOUSLY FROM NEW TECH OBLIGATION AND HE GOES ON TO SAY H.R. 3299 IS A SMALL BUSINESS BILL. ACCORDING TO THE URBAN INSTITUTE, 34% OF MY QUINTS IN JAMAICA QUEENS RELY ON ALTERNATIVE FINANCIAL SERVICE PROVIDERS INCLUDING RENT-TO-OWN AGREEMENTS AND REFUND ANTICIPATION LOANS BECAUSE THEY HAVE UNMET LENDING NEEDS. MADDEN DOES LITTLE TO HELP THESE INDIVIDUALS BUT SHUTS THE DOOR TO MORE BANK LOANS FACILITATED THROUGH PARTNERSHIP MODELS. I COULD GO ON, MADAM SPEAKER. BUT WHAT WE'RE TRYING TO DO HERE IS ASSURE THAT WHAT JUST HAPPENED IN THE SECOND CIRCUIT WHERE CREDIT OPPORTUNITIES ARE CUT IN HALF DOESN'T HAPPEN NATIONWIDE. THE HARD-WORKING MEN AND WOMEN OF AMERICA THEY DESERVE BETTER. SO WE MUST SUPPORT H.R. 3299 AND I YIELD BACK.

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              • 03:12:32 PM

                THE SPEAKER PRO TEMPORE

                THE THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME FOR DEBATE…

                THE THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME FOR DEBATE HAS EXPIRED. PURSUANT TO HOUSE RESOLUTION 736, THE PREVIOUS QUESTION IS ORDERED ON THE BILL. 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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              • 03:12:36 PM

                The previous question was ordered pursuant to the rule.

                • 03:12:50 PM

                  THE CLERK

                  A BILL TO AMEND THE REVISED STATUTES TO HOMEOWNERS LOAN ACT AND THE…

                  A BILL TO AMEND THE REVISED STATUTES TO HOMEOWNERS LOAN ACT AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE RATE OF INTEREST ON CERTAIN LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOAN AND FOR OTHER PURPOSES.

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                • 03:13:05 PM

                  THE SPEAKER PRO TEMPORE

                  THE QUESTION IS ON PASSAGE OF THE BILL. THOSE IN FAVOR SAY AYE. THOSE…

                  THE QUESTION IS ON PASSAGE OF THE BILL. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THE BILL IS PASSED.

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                • 03:13:17 PM

                  MR. HENSARLING

                  I REQUEST THE YEAS AND NAYS.

                • 03:13:19 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 THE YEAS AND NAYS ARE ORDERED PURSUANT TO CLAUSE 8 OF RULE 20, FURTHER PROCEEDINGS ON THIS QUESTION WILL BE POSTPONED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS, MR. HENSARLING, SEEK RECOGNITION?

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            • 03:13:19 PM

              POSTPONED PROCEEDINGS

              At the conclusion of debate on H.R. 3299, the Chair put the question on passage of the bill, and by voice vote announced the ayes had prevailed. Mr. Hensarling demanded the yeas and nays, and the Chair postponed further proceedings on the question of passage until later in the legislative day.

              • 03:13:35 PM

                Considered under the provisions of rule H. Res. 736. H.R. 3978 — "To amend the Real Estate Settlement Procedures Act of 1974 to modify requirements related to mortgage disclosures, and for other purposes."

                • 03:13:40 PM

                  Provides for consideration of H.R. 620 and H.R. 3978 under structured rules and H.R. 3299 under a closed rule. Each bill shall be debatable for one hour. The resolution provides for proceedings during the period of February 16, 2018 through February 23, 2018.

                  • 03:13:44 PM

                    MR. HENSARLING

                    PURSUANT TO HOUSE RESOLUTION 736 I CALL H.R. 3978 AND ASK FOR ITS…

                    PURSUANT TO HOUSE RESOLUTION 736 I CALL H.R. 3978 AND ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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                  • 03:13:53 PM

                    THE CLERK

                    UNION CALENDAR NUMBER 389, H.R. 3978, A BILL TO AMEND THE REAL ESTATE…

                    UNION CALENDAR NUMBER 389, H.R. 3978, A BILL TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO MODIFY REQUIREMENTS RELATED TO MORTGAGE DISCLOSURES AND FOR OTHER PURPOSES.

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                  • 03:14:08 PM

                    TEMPORE PURSUANT

                    PURSUANT TO HOUSE RESOLUTION 736, AN AMENDMENT IN THE NATURE OF A…

                    PURSUANT TO HOUSE RESOLUTION 736, AN AMENDMENT IN THE NATURE OF A SUBSTITUTE CONSISTING OF RULES COMMITTEE PRINT 115-59 MODIFIED IN HOUSE REPORT 115- DASH 559 IS ADOPTED AND THE BILL AS AMENDED IS CONSIDERED READ. THE BILL AS AMENDED SHALL BE DEBATABLE FOR ONE HOUR EQUALLY DIVIDED AND CONTROLLED BY THE CHAIR AND RANKING MINORITY MEMBER ON THE COMMITTEE OF FINANCIAL SERVICES. AFTER ONE HOUR OF DEBATE ON THE BILL, IT SHALL BE IN ORDER TO CONSIDER THE FURTHER AMENDMENT PRINTED IN PART C OF HOUSE REPORT 115-559. IF OFFERED BY THE MEMBER DESIGNATED IN THE REPORT WHICH SHALL BE CONSIDERED READ, SHALL BE SEPARATELY DEBATABLE FOR THE TIME SPECIFIED IN THE REPORT EQUALLY DIVIDED AND CONTROLLED BY AN PROPONENT AND OPPONENT AND SHALL NOT BE SUBJECT TO DEMAND. THE GENTLEMAN FROM TEXAS, MR. HENSARLING AND THE GENTLEWOMAN FROM CALIFORNIA, MS. WATERS, EACH WILL CONTROL 30 MINUTES. .

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              • 03:15:11 PM

                DEBATE

                The House proceeded with one hour of debate on H.R. 3978.

                • 03:15:18 PM

                  MR. HENSARLING

                  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 SUBMIT EXTRANEOUS MATERIAL ON THE BILL UNDER CONSIDERATION. INYIELD MYSELF AS MUCH TIME AS I -- I YIELD MYSELF AS MUCH TIME AS I MAY CONSUME. I RISE TODAY IN STRONG SUPPORT OF H.R. 3978. WHICH IS A PACKAGE OF FIVE STRONGLY BIPARTISAN BILLS. YET AGAIN, FROM THE FINANCIAL SERVICES COMMITTEE OF THE HOUSE. AS STAND-ALONE BILL, ALL WERE FAVORABLY REPORTED, AGAIN, WITH STRONG BIPARTISAN SUPPORT OF AT LEAST 3/4 OF THE COMMITTEE -- OF THE COMMITTEE. THE TITLE PROVISION OF THIS PACKAGE IS THE TRID IMPROVEMENT ACT BY CONGRESSMAN FRENCH HILL. THIS BILL AMENDS CFPB'S COMPLEX INTEGRATED DISCLOSURE KNOWN AS TRID RULE IN ORDER TO SIMPLIFY THE CLOSING DOCUMENTS CONSUMERS GET WHEN THEY CLOSE A MORTGAGE. IT DOES THIS BY ALLOWING FOR THE CALCULATION OF THE DISCOUNTED RATE THAT TITLE INSURANCE COMPANIES PROVIDE TO CONSUMERS WHEN THEY PURCHASE A LENDER'S AND OWNER'S TITLE INSURANCE POLICY SIMULTANEOUSLY. THIS MAKES IT MORE ACCURATE, MADAM SPEAKER. TITLE 2 IS THE PROTECTION OF SOURCE CODE ACT INTRODUCED BY REPRESENTATIVES SEAN DUFFY AND DAVID SCOTT, A REPUBLICAN AND A DEMOCRAT. THIS PROVISION ENSURES THAT THE SECURITIES AND EXCHANGE COMMISSION CANNOT REQUIRE FINANCIAL SERVICES FIRMS TO DISCLOSE TRADING SOURCE CODE WITHOUT FIRST OBTAINING A SUBPOENA. SOURCE CODE IS AMONG A FIRM'S MOST SENSITIVE INFORMATION AND THIS BIPARTISAN PROVISION BALANCES PRIVACY AND DUE PROCESS CONCERNS WHILE PRESERVING THE S.E.C.'S ABILITY TO OBTAIN SUCH INFORMATION WHEN NECESSARY. THE THIRD TITLE IS THE FOSTERING INNOVATION ACT, WHICH WAS INTRODUCED BY REPRESENTATIVES SINEMA AND HOLLINGSWORTH TO PROVIDE RELIEF TO SMALL AND EMERGING BUSINESSES BY EXTENDING THE POPULAR ON-RAMP EXEMPTION OF THE JOBS ACT FOR EMERGING GROWTH COMPANIES IN A MORE TAILORED MANNER. IN SHORT, IT PROVIDES EMERGING GROWTH COMPANIES MORE TIME TO REACH A SIZE WHEN THEY REASONABLY CAN BE EXPECTED TO FINANCIALLY SUSTAIN THE LEGAL ACCOUNTING AND COMPLIANCE COSTS ASSOCIATED WITH THE FULL SARBANES-OXLEY SECTION 404-B COMPLIANCE. FOURTH, MADAM SPEAKER, IS THE NATIONAL SECURITIES EXCHANGE REGULATORY PARITY ACT, WHICH IS INTRODUCED BY MR. ROYCE AND WHICH WILL ENSURE FURTHER CLARITY AND COMPETITION AMONG NATIONAL SECURITY EXCHANGES BY MODERNIZING THE BLUE SKY EXEMPTION IN THE SECURITIES ACT. MODERNIZING THIS PROVISION WILL ENSURE ALL NATIONAL SECURITY EXCHANGES OPERATE ON A LEVEL REGULATORY PLAYING FIELD AND HELP PROTECT RETAIL INVESTORS FROM ARBITRARY ACTS, BY STATE REGULATES THAT ARE MAY BARREN INVESTORS IN ONE STATE FROM BUYING -- BAR INVESTORS IN ONE STATE FROM BUYING FROM OTHER INVESTORS IN EVERY OTHER STATE. THE FINAL TITLE OF THIS BILL IS A PROVISION INTRODUCED BY CONGRESSMAN STIVERS TO ALLOW MORTGAGE LOAN ORIGINATORS WHO WORK AS LOAN OFFICERS IN BANKS AND CREDIT UNIONS TO TRANSITION TO A NEW JOB AT A NONMORTGAGE COMPANY WITHOUT LOSING THE ABILITY TO ORIGINATE LOANS. WITHOUT THIS BILL THE TRANSITION PROCESS CAN TAKE WEEKS OR MONTHS DEPENDING ON THE STATE. EACH OF THESE MEASURES, MADAM SPEAKER, WILL CUT THROUGH LAYERS OF RED TAPE AND HELP LEVEL THE PLAYING FIELD, BY MAKING REGULATIONS SMARTER, FAIRER, CLEARER AND MORE EFFICIENT. THUS, THUS ENSURING THAT THERE ARE MORE COMPETIVELY PRICED CREDIT OPPORTUNITIES AND MORE CREDIT OPPORTUNITIES FOR CONSUMERS, AND THAT INVESTORS ARE GREATER INVESTMENT OPPORTUNITIES -- HAVE GREATER INVESTMENT OPPORTUNITIES IN COMPETITIVE MARKETS. THEY WILL PROVIDE COMMONSENSE REGULATORY RELIEF. THEY ARE PRACTICAL. THEY ARE BIPARTISAN. AND THEY ARE NEEDED. I ENCOURAGE ALL OF MY COLLEAGUES TO SUPPORT THE MEASURE AND I RESERVE THE BALANCE OF MY TIME.

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                • 03:19:21 PM

                  THE SPEAKER PRO TEMPORE

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

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

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                • 03:19:25 PM

                  MS. WATERS

                  THANK YOU VERY MUCH. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MADAM…

                  THANK YOU VERY MUCH. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MADAM SPEAKER, I RISE IN STRONG OPPOSITION TO H.R. 3978, THE TRID IMPROVEMENT ACT OF 2018, H.R. 3978 HAS BEEN DRAMATICALLY EXPANDED WITHOUT INPUT FROM DEMOCRATS, TO INCLUDE SEVERAL HIGHLY PROBLEMATIC AND DAMAGING BILLS. IF ENACTED, THIS AMENDED PACKAGE OF BILLS WOULD EASILY -- EASE THE ABILITY OF HIGH FREQUENCY TRADERS TO MANIPULATE THE STOCK MARKETS UNDETECTED, ENCOURAGE A REGULATORY RACE TO THE BOTTOM AT OUR NATION'S STOCK EXCHANGES, AND HARM INVESTORS AND SMALL BUSINESSES BY WEAKENING EFFORTS TO PREVENT ACCOUNTING FRAUD AT SMALLER PUBLIC COMPANIES. TAKEN TOGETHER, THIS DEREGULATORY PACKAGE COULD SIGNIFICANTLY UNDERMINE MARKET STABILITY AND GUT INVESTOR AND CONSUMER PROTECTIONS AT A TIME WHEN OUR FINANCIAL MARKETS ARE ALREADY RATTLED. MR. SPEAKER, MADAM SPEAKER, RATHER, FROM JANUARY 26 UNTIL LAST THURSDAY, THE STOCK MARKET'S PLUNGE -- STOCK MARKET PLUNGED JUST OVER 10%, BECOMING WHAT THE FINANCIAL SERVICES INDUSTRY CALLS, AND I QUOTE, STOCK MARKET CORRECTION, QUOTE-UNQUOTE. AND FOR THE PAST TWO TRADING DAYS, MARKETS HAVE REBOUNDED THE MOST SINCE 2016. ALTHOUGH MARKET CORRECTIONS ARE NOT NEW, WHAT DISTINGUISHES TODAY'S VOLATILITY IS THAT IT IS DRIVEN BY COMPLEX COMPUTER STRATEGIES DESIGNED TO BUY AND SELL STOCKS AND OPTIONS MILLIONS OF TIMES A DAY. AS MANY OF US HAVE WITNESSED, THE DOW JONES INDUSTRIAL AVERAGE MAY BE UP 500 POINTS AND THEN DOWN 600 IN LESS THAN A FEW MINUTES. FOR THE AVERAGE AMERICAN, WHO IS HOPING TO ONE DAY RETIRE WITH DIGNITY BY INVESTING HER HARD-EARNED SAVINGS IN THE STOCK MARKET, IT CAN BE DISTRESSING TO SEE SUCH WILD SWINGS, ALWAYS WONDERING WHETHER THE MARKETS ARE TRULY FAIR OR WHETHER SHE IS GOING TO BE FLEECED. UNFORTUNATELY THE PASSAGE OF H.R. 3978 WOULD LIKELY MAKE THOSE SWINGS MORE EXTREME AND INCREASE THE LIKELIHOOD OF PROBLEMS GOING FORWARD. I'M GOING TO WALK THROUGH EACH OF THE PROBLEMATIC PROVISIONS IN THIS BILL. BEGINNING WITH TITLE 4, THIS PROVISION IS IDENTICAL TO H.R. 4546, THE NATIONAL SECURITIES AND EXCHANGE REGULATORY PARITY ACT, WHICH WOULD WEAKEN THE STANDARDS FOR LISTING PUBLIC COMPANIES FOR TRADING AT U.S. STOCK EXCHANGES. TODAY EXCHANGES LISTING STANDARDS SET MINIMUM REQUIREMENTS FOR A COMPANY'S SHARES TO BE SOLD TO THE PUBLIC WITHOUT HAVING TO COMPLY WITH STATE LAW. EXCHANGES CAN ONLY REVISE THESE STANDARDS IF THE SECURITIES AND EXCHANGE COMMISSION FIRST FINDS THAT NEW STANDINGS ARE SUBSTANTIALLY SIMILAR TO THE LISTING STANDARDS OF THE NEW YORK STOCK EXCHANGE. THIS BILL WOULD REMOVE ANY SEPARATE ANALYSIS FOR CHANGING THE STANDARDS AND THUS AUTOMATICALLY PREEMPT STATE OVERSIGHT. AS A RESULT, THE BILL WOULD ENCOURAGE A RACE TO THE BOTTOM OF LISTING STANDARDS AS EXCHANGES COMPETE WITH EACH OTHER TO ATTRACT COMPANIES WITH LESS RESTRICTIONS. EVEN IF THE STANDARDS ARE BENEFICIAL TO THE INVESTORS. I BELIEVE THAT WE SHOULD BE STRENGTHENING THE CURRENT ANALYSIS TO PROMOTE FAIR AND RIGOROUS LISTING STANDARDS AND ONLY PREEMPT STATE LAW WHEN COMPANIES MEET HIGH STANDARDS. THIS IS WHY I WORK WITH THE CO-SPONSORS -- I WORKED WITH THE CO-SPONSORS LAST CONGRESS TO STRIKE A BIPARTISAN COMPROMISE, WHICH PASSED THE HOUSE UNANIMOUSLY, TO REQUIRE THE S.E.C. TO DEVELOP A CORE QUALITATIVE LISTING STANDARD. UNFORTUNATELY MY REPUBLICAN COLLEAGUES HAVE REVERSED THEIR POSITION IN FAVOR OF EMPOURG THE INDUSTRY OVER THE -- EMPOWERING THE INDUSTRY OVER THE INVESTING PUBLIC. TURNING TO TITLE 3, WHICH IS IDENTICAL TO H.R. 1645, THE SO-CALLED FOSTERING INNOVATION ACT, THIS PROVISION WOULD ELIMINATE THE INDEPENDENT AUDIT OF A COMPANY'S FINANCIAL REPORTING CONTROLS FOR UP TO 10 YEARS FOR NEWLY PUBLIC COMPANIES, PROVIDED THAT THEY HAVE $50 MILLION OR LESS IN GROSS REVENUES AND LESS THAN $700 MILLION IN OUTSTANDING SHARES. PASSED IN THE WAKE OF THE ENRON AND WORLDCOM ACCOUNTING SCANDALS, THE WORLD -- THE REQUIREMENT THAT PUBLIC COMPANIES CONDUCT AN INDEPENDENT AUDIT OF FINANCIAL CONTROLS IS ONE OF THE MANY ACCOUNTING PROVISIONS REQUIRED BY THE BIPARTISAN SARBANES-OXLEY ACT THAT DIRECTLY BENEFITS INVESTORS AND PUBLIC COMPANIES BY IMPROVING THE ACCURACY OF THEIR FINANCIAL REPORTING. IN FACT, COMPANIES THAT ARE NOT SUBJECT TO SUCH REVIEW BY AN INDEPENDENT AUDITOR ARE MORE LIKELY TO ISSUE CORRECTIONS TO THEIR FINANCIAL REPORTS. LEADING TO INVESTOR LOSSES AND HIGHER LOSSES FOR THE COMPANY. INVESTORS LIKE THESE AUDITS BECAUSE THEY IMPROVE THE VERACITY OF THE REPORTS THEY RELY ON TO MAKE INVESTMENT DECISIONS. TODAY TRULY SMALL PUBLIC COMPANIES, THOSE WITH LESS THAN $75 MILLION WORTH OF SHARES, ARE ALREADY EXEMPT FROM THE AUDIT REQUIREMENT. BUT THIS BILL WOULD EXTEND THE EXEMPTION TO LARGE COMPANIES THAT ARE NEARLY 10 TIMES THAT SIZE. THE LAW ALREADY PROVIDES NEWLY PUBLIC COMPANIES WITH AN EXEMPTION FOR FIVE YEARS, EXTENDING IT TO A DECADE WOULD HARM INVESTOR CONFIDENCE IN ALL SUCH COMPANIES. HURTING THE VERY COMPANIES THE BILL'S SUPPORTERS PURPORT TO HELP. TITLE 2 OF THIS BILL IS THE SAME LANGUAGE AS H.R. 3948, THE PROTECTION OF SOURCE CODE ACT. THIS BILL BANS THE S.E.C. FROM INSPECTING SOURCE CODE USED BY REGULATED ENTITIES TO ENGAGE IN ALGORITHMS OR COMPUTER-DRIVEN TRADING AND OTHER ACTIVITIES THAT IMPACT THE SECURITIES MARKETS AND INVESTORS WITHOUT FIRST OBTAINING A SUBPOENA. THIS PROVISION WOULD SEVERELY HAMPER THE ABILITY OF THE S.E.C. TO EFFECTIVELY EXAMINE PERSONS LIKE HIGH FREQUENCY TRADERS AND TO INVESTIGATE MARKET DISRUPTIONS. THE RECENT STOCK MARKET VOLATILITY, WHICH HAS SEEN ALL OF THE MAJOR STOCKS DECLINE BY MORE THAN 10% IN LESS THAN TWO WEEKS, HAS BEEN EXACERBATED BY HIGH FREQUENCY TRADERS USING COMPLEX COMPUTER ALGE RILINGT AMS TO DETERMINE -- ALGORITHMS TO DETERMINE WHEN TO BUY AND SELL MILLIONS OF TRADES A SECOND. BY MAKING IT HARDER FOR THE CAPITAL MARKETS' COP TO DETECT AND STOP BAD ACTORS AND REIN IN FRAUDULENT TRADING SCHEMES. THIS PROVISION WILL INEVITABLY HARM EVERYDAY AMERICANS AND RETIREES WHO RELY ON FAIR CAPITAL MARKETS TO INVEST THEIR HARD-EARNED SAVINGS. TO MAKE MATTERS WORSE, REPUBLICANS ADDED A PROVISION TO PAY FOR THE COST OF THE BILL BY TAKING $2 MILLION FROM THE SECURITIES AND EXCHANGE COMMISSION'S RESERVE FUND. AS A RESULT, OUR FINANCIAL WATCHDOG WILL HAVE LESS RESOURCES TO SUPPORT ITS CAPACITY, TO OVERSEE THE MARKETS THROUGH INVESTMENTS IN I.T., AND TO RESPOND TO UNFORESEEN MARKET EVENTS LIKE THE FLASH CRASH. IN SHORT, THIS BILL ASKS TAXPAYERS TO PAY FOR THE COSTS OF DIMINISHED CAPITAL MARKET OVERSIGHT BY TAKING AWAY S.E.C.'S FUNDING, TO RESPOND TO EMERGENCY MARKET SITUATIONS THAT THREATEN MARKET STABILITY. THIS PROVISION DOUBLES DOWN ON THE IRRESPONSIBLE POLICYMAKING WE OFTEN SEE BY THE OPPOSITE SIDE OF THE AISLE. THE BILL BEFORE US TODAY WOULD ALSO MAKE TWO LESS SIGNIFICANT CHANGES, WHICH I BELIEVE THE REPUBLICANS INCLUDED TO GARNER ADDITIONAL SUPPORT FOR THE LEGISLATION. NEVERTHELESS, EVEN WITH THESE PROVISIONS, THE PACKAGE SHOULD BE SOUNDLY REJECTED. TITLE 1, WHICH INCLUDES THE VERSION OF H.R. 3978, TRID IMPROVEMENT ACT OF 2017, THE COMMITTEE PREVIOUSLY CONSIDERED, WOULD AMEND A MORTGAGE DISCLOSURE KNOWN AS TRID OR THE KNOW BEFORE YOU OWE DISCLOSURE. THAT INFORMS HOMEBUYERS OF THE TERMS AND CONDITIONS OF THEIR MORTGAGE. RESPONDING TO THE CONCERNS OF SOME IN THE REAL ESTATE INDUSTRY, THIS PROVISION WOULD AMEND THE DISCLOSURE TO ACCOUNT FOR THE DISCOUNTS PAID TO BORROWERS IN STATES WHERE SIMULTANEOUS LENDER AND BUYER TITLE INSURANCE IS ISSUED. HOWEVER, THE REVISED FORM DOES NOTHING FOR BORROWERS IN STATES THAT DO NOT PROVIDE SUCH SPECIAL RATES TO HOMEBUYERS. AND THE PROVISION ELIMINATES THE CONSUMER BUREAU'S ABILITY TO FIX THIS ASPECT OF THE FORM, EVEN IF A PROBLEM ARISES IN THE FUTURE. THE FINAL PROVISION, TITLE 5, IS IDENTICAL TO H.R. 2948. THE SAFE TRADITIONAL LICENSING ACT. THIS TITLE WOULD EASE THE ABILITY OF INDIVIDUALS EMPLOYED AS MORTGAGE ORIGINATORS TO CHANGE EMPLOYERS BY CREATING A TEMPORARY 120-DAY LICENSING REGIME SO THAT THEY CAN CONTINUE TO WORK AT THEIR NEW EMPLOYER. THIS BILL WOULD EFFECTIVELY TREAT MORTGAGE ORIGINATORS WHO WORK FOR STATE REGISTERED FIRMS THE SAME AS FEDERALLY REGISTERED FIRMS. AND WAS UNANIMOUSLY SUPPORTED BY COMMITTEE DEMOCRATS. UNFORTUNATELY BECAUSE THIS LEGISLATION HAS BEEN PACKAGED WITH OTHER DEEPLY PROBLEMATIC AND DESTRUCTIVE BILLS, SENSIBLE RELIEF TO THESE INDIVIDUALS THAT HAS BROAD BIPARTISAN SUPPORT IS BEING HELD HOSTAGE BY REPUBLICANS' EFFORTS TO ROLLBACK AS MANY SAFEGUARDS AS THEY CAN THIS YEAR -- ROLL BACK AS MANY SAFEGUARDS AS THEY CAN THIS YEAR. MADAM SPEAKER, H.R. 3978 AS AMENDED THREATENS MANY OF THE IMPORTANT REFORMS DEMOCRATS MADE TO RESTORE INVESTOR CONFIDENCE TO OUR CAPITAL MARKETS AFTER THE WORST FINANCIAL CRISIS IN GENERATIONS. AS THE STOCK MARKETS CONTINUE TO WOBBLE, -- WOBBLE OMINOUSLY IN WAYS THAT THREATEN THE SAVINGS OF HARDWORKING AMERICANS, CONGRESS SHOULD BE STRENGTHENING OVERSIGHT OF THE FINANCIAL SYSTEM, NOT WEAKENING IT. NOT SURPRISINGLY H.R. 3978 IS STRONGLY OPPOSED BY THE NORTH AMERICAN ASSOCIATION OF SECURITIES ADMINISTRATORS WHO SERVE ON THE FRONT LINE COMBATING SECURITIES FRAUD ON THE STATE LEVEL. AND BY NONPARTISAN ORGANIZATIONS WHO SPEAK ON BEHALF OF OUR NATION'S CONSUMERS, INVESTORS AND UNIONS, INCLUDING CONSUMER FEDERATION OF AMERICA, CENTER FOR AMERICAN PROGRESS, AMERICANS OF FINANCIAL REFORM, AFL-CIO, AND PUBLIC CITIZEN. AND SO DO I. I URGE EVERYONE TO REJECT THIS HARMFUL PACKAGE OF BILLS AND VOTE NO ON H.R. 3978. I RESERVE THE BALANCE OF MY TIME. . THARNING YOU VERY MUCH. I RESERVE. THE GENTLELADY RESERVES.

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                • 03:30:45 PM

                  MR. HENSARLING

                  I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM ARKANSAS, THE…

                  I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM ARKANSAS, THE MAJORITY WHIP OF THE COMMITTEE AND THE SPONSOR OF THE LEGISLATION, MR. HILL.

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                • 03:30:55 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN IS RECOGNIZED.

                • 03:30:57 PM

                  MR. HILL

                  I THANK THE SPEAKER. AND OF COURSE, I THANK THE DISTINGUISHED CHAIRMAN,…

                  I THANK THE SPEAKER. AND OF COURSE, I THANK THE DISTINGUISHED CHAIRMAN, MR. HENSARLING. I RISE IN SUPPORT OF MY BILL, H.R. 7978, THE TRID IMPROVEMENT ACT, THIS AFTERNOON. AND I WANT TO HAVE MY COMMENTS FOCUS ON THE ACTUAL IMPROVEMENTS TO THE TRUTH IN LENDING AND RESPA FORM, WHICH IS NOW REFERRED AS TRID. BACK IN 2010 WHEN DODD-FRANK WAS BEING CONSIDERED, ONE OF THE GOALS THAT THEN WHITE HOUSE STAFFER ELIZABETH WARREN AND NOW SENATOR WARREN HAS, WELL, WE WILL MAKE A WIN FOR BOTH BANKS AND CONSUMERS AND WE WILL MAKE FORMS SIMPLER AND DISCLOSURE BETTER AND AMERICA'S EXHIBIT A TODAY IS THE FORM. IT WAS TRUTH IN LENDING AND MAKE SURE THE INTEREST RATE YOU ARE GOING TO PAY ON YOUR MORTGAGE IS THE REAL ESTATE SETTLEMENT ACT SAID WHATEVER YOU WERE PAYING EXTRAS, TITLE INSURANCE, WAS DISCLOSED ACCURATELY. WELL, WE NOW FLASH FORWARD A NUMBER OF YEARS, BACK IN 2013, THE CFPB FINALIZED THE TRID RULE. KNOW BEFORE YOU OWE. IT SHOULD HAVE BEEN CALLED KNOW BEFORE YOU ARE CONFUSED. THIS RULE FINALIZED IN 2013, STILL THE SUBJECT TO DELAY DUE TO ERRORS THAT CFPB MADE AND GOT PUT IN PLACE IN 2015. $1.5 BILLION FOR COMPLIANCE COSTS FOR BANKS TO MERGE THIS FORM. AND THE CFPB OFFERED NO CONCRETE GUIDANCE AND THIS VOTED TO DIRECT THE CFPB TO IMPROVE THIS RULE THAT WAS NOT A SUCCESS STORY. IN FACT, IN APRIL OF 2016, THE CFPB DECIDE TODD REOPEN THE RULEMAKING AND TRY TO FIND SOME CLARIFYING AND AMENDING PROCEDURES THAT WOULD MAKE IT MORE CLEAR. WELL, AS YOU CAN HEAR, IT'S A MASSIVE COMPLEX RULE THAT'S EXPENSIVE. AND THE AMERICAN BANKERS ASSOCIATION SAID IF THERE WAS ONE THING TO FIX IN CONSUMER COMPLIANCE, IT WOULD BE THE TRID. IT WOULDN'T BE THE QUALIFIED MORTGAGE DEFINITION. IT WOULDN'T BE ALL THE CAPITAL RULES EMBEDDED IN DODD-FRANK. IT WOULD BE THIS RULE. AND WHEN I HAVE BEEN AT HOME IN MY DISTRICT, I HAVE HEARD ABOUT IT COUNTLESS TIMES FROM MORTGAGE AND COMMUNITY BANKERS. SO WE'RE STILL NOT THERE YET, WHICH IS WHY WE ARE HERE TODAY, MR. SPEAKER. AND THAT IS, THIS BILL DOES ONE SIMPLE THING, WHICH SAYS, IF YOU BUY A TITLE INSURANCE POLICY AND THE MAJORITY OF STATES, THE CFPB 'S RULE IS NOT ACCURATE. AND YOU CAN SEE HERE THAT THE RULE FOR ARKANSAS ON A $200,000 SALES PRICE HOUSE SAYS THAT THE CONSUMER SHOULD PAY $382.50 CENTS AFTER THIS COMPLEX FORMULA WHEN IN REALITY, THEY ARE PLAYING $525 OR $35. IN THESE STATES, THE CFPB IS NOT ALLOWING FOR THE CALCULATION OF A DISCOUNTED RATE KNOWN AS A SIME YOU WILL KAINE YOUSE ISSUE WHICH THEY PROVIDE TO CONSUMERS WHEN THEY PURCHASE BOTH THE LENDER'S' AND OWNER'S TITLE POLICY AT THE SAME TIME. SO, MR. SPEAKER, THIS BILL OFFERS CLARITY AND TAKES A COMPLEX RULE AND MAKES THIS PART OF IT SIMPLER. WHERE OUR CONSUMERS WILL ACTUALLY SEE ON THE CLOSING STATEMENT WHAT THE COST OF THE TITLE INSURANCE IS AND IT WILL BE TRANSPARENT. THERE ARE MANY OTHER CHALLENGES WITH THIS RULE. AND WE'VE TALKED ABOUT THEM IN OUR COMMITTEE. AND TODAY, WE ARE ONLY DEBATING AND DISCUSSING ONE SMALL ONE. BUT I URGE MY COLLEAGUES ON BOTH SIDES OF THE AISLE AND THIS BILL CAME OUT OF OUR COMMITTEE BIPARTISAN. THIS IS A BILL THAT MEMBERS OF CONGRESS HAVE HEARD FROM ACROSS THIS COUNTRY IN ALL 50 STATES FROM COMMUNITY BANKERS, MORTGAGE BANKERS OF ALL SIZES WHO ARE TRYING TO PROVIDE AN ACCURATE FAST CLOSING FOR THE MOST IMPORTANT THING WE DO AS A FAMILY AND THAT'S TO DECIDE TO BUY A HOME. I THANK THE CHAIRMAN OF THE FULL COMMITTEE FOR THE TIME. I URGE MY COLLEAGUES TO SUPPORT THIS FULL PACKAGE OF BIPARTISAN BILLS THROUGH REGULAR ORDER, THROUGH OUR COMMITTEE AND ARE PRESENTED HERE TO IMPROVE OUR ECONOMY, IMPROVE THE BALANCE IN OUR REGULATORY SYSTEM AND HELP MAKE CREDIT MORE ACCESSIBLE FOR CONSUMERS AT BETTER PRICES AND I YIELD BACK.

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                • 03:36:08 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                • 03:36:14 PM

                  MS. WATERS

                  I CONTINUE TO RESERVE.

                • 03:36:16 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS.

                • 03:36:20 PM

                  MR. HENSARLING

                  I YIELD FOUR MINUTES TO THE GENTLEMAN FROM WISCONSIN, MR. DUFFY, CHAIRMAN…

                  I YIELD FOUR MINUTES TO THE GENTLEMAN FROM WISCONSIN, MR. DUFFY, CHAIRMAN OF THE SUBCOMMITTEE ON HOUSING AND INSURANCE AND SPONSOR OF TITLE 2 OF THE PROTECTION OF SOURCE CODE IN THIS BILL.

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                • 03:36:32 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN FROM WISCONSIN IS RECOGNIZED.

                • 03:36:36 PM

                  MR. DUFFY

                  I THANK THE CHAIRMAN FOR HIS WORK ON THIS LEGISLATION AND MR. HILL FOR…

                  I THANK THE CHAIRMAN FOR HIS WORK ON THIS LEGISLATION AND MR. HILL FOR WHICH MY PROVISION IS MADE PART OF THE LARGER PACKAGE. I ALSO WANT TO THANK THE GENTLEMAN FROM GEORGIA AND ILLINOIS, MY GOOD FRIENDS ACROSS THE AISLE, REPRESENTATIVES SCOTT AND FOSTER, WHO ARE PROTECTION OF THIS ACT. IT IS A BIPARTISAN BILL. THE RECENT CYBER INCIDENTS AT THE N.S.A. SHOW THAT ALL ORGANIZATIONS ARE VULNERABLE FOR SECURITY RISKS AND THIS IS A REMINDER OF THE RISKS WE FACE IN THIS DIGITAL AGE. IT IS IMPORTANT FOR THE S.E.C. TO RETHINK WHAT THEY COLLECT AND WHAT THEY COLLECT AND WHAT IS STORED AND WHAT THEY DO WITH THIS INFORMATION IN THE LONG RUN. THIS BILL IS A BIPARTISAN BILL INTENDED TO REDUCE SOME OF THE CYBERSECURITY RISKS TO OUR FINANCIAL MARKETS WHEN IT GATHERS HIGHLY SENSITIVE TRADING AND SOURCE CODE INFORMATION AS PART OF THEIR OVERSIGHT DUTIES. THIS ESTABLISHES A PROCESS FOR THE S.E.C. WITH RESPECT TO REQUESTING SOURCE CODE AND OTHER INTELLECTUAL PROPERTY THAT FORMS THE BASIS OF SOURCE CODE. IT DOES NOT PRECLUDE THE S.E.C. FROM REQUESTING DATA THAT IT DETERMINES IT NEEDS FOR MARKET OVERSIGHT. IT MERELY PUTS THE PROCESS IN PLACE HOW THE S.E.C. SEEKS ACCESS TO CERTAIN INTELLECTUAL PROPERTY. HAVING A PROCESS IN PLACE FOR HOW THE S.E.C. REQUESTS SOURCE CODE IN SIMILAR INTELLECTUAL PROPERTY WILL BETTER PROTECT REGISTRANTS AND CLIENTS AND INVESTORS BY CYBER THEFT OF THE MOST VULNERABLE AND INTELLECTUAL PROPERTY. SUCH DISCLOSURE COULD DESTROY THE AMERICAN BUSINESS THAT OWNS THE INTELLECTUAL PROPERTY. WORSE, IT COULD UNDERMINE INVESTOR CONFIDENCE AND CREATE SIGNIFICANT VOLATILITY IN OUR FINANCIAL MARKETS. IN GENERAL, THE S.E.C. SHOULD NOT BE REQUESTING SOURCE CODE OR INTELLECTUAL PROPERTY THAT FORMS THE BASIS OF SOURCE CODE. SHOULD BE COLLECTING THAT ON A BASIS. IT IS UNNECESSARY FOR THEM TO PERFORM THEIR MARKET OVERSIGHT FUNCTION. AND IT COULD CREATE A VERY INVITING TREASURE TROVE. THIS BILL WILL ENSURE THAT THE S.E.C. THEY WILL GATHER SOURCE CODE AND SUBPOENA PROCESS AND UNDER THIS BILL THE S.E.C. IN CONDUCTING AN EXAM MAY CONTINUE TO ASK SOMEONE ABOUT A TRADING SYSTEM OR STRATEGIES. LET'S BREAK THIS DOWN A LITTLE BIT. WE HAVE SOURCE CODE THAT IS HIGHLY SENSITIVE, IT'S INTELLECTUAL PROPERTY. IF YOU ARE THE S.E.C., YOU CAN GO ON SITE AND LOOK AT THE SOURCE CODE. AND I'M FINE WITH THAT. IF YOU ARE GOING TO STORE IT AND HAVE A WHOLE BUNCH OF INTELLECTUAL PROPERTY FOR AMERICAN BUSINESSES STORED AT THE S.E.C., THIS IS ONE-STOP SHOPPING FOR HACKERS. DO IT ONCE. GET INTO THE S.E.C. AND YOU GET IT ALL. YOU WANT TO TALK ABOUT VOLATILITY. WAIT AND SEE IF THERE IS A HACK AND GET ALL THIS INFORMATION AND ALL THIS SOURCE CODE. THAT'S A RISK WE DON'T WANT TO HAVE. WE WANT DUE PROCESS. IF YOU WANT TO COME IN AND TAKE THE SOURCE CODE, GET A SUBPOENA. THE MOST SENSITIVE DATA AND SENSITIVE INFORMATION, GET A SUBPOENA, YOU CAN TAKE IT. THOSE ARE BASIC PROTECTIONS THAT WE OFFER IN AMERICA THAT WE SHOULD EMPLOY AT THE S.E.C. WHEN THEY WANT THIS INTELLECTUAL PROPERTY THAT IS OF GREAT VALUE TO THESE FIRMS. MY BILL, CONTRARY TO THE RANKING MEMBER'S POINT, MADAM SPEAKER, DOESN'T OFFER EXEMPTIONS TO EXAMS. EXAMS WILL STILL HAPPEN AND STILL ILLEGAL TO MANIPULATE MARKETS. THOSE THINGS HAVEN'T CHANGED. THIS IS ABOUT DUE PROCESS --

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                • 03:40:53 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN HAS 30 MORE SECONDS.

                • 03:40:57 PM

                  MR. DUFFY

                  WE NEED TRUTHFUL AND HONEST INFORMATION ON THE FLOOR. THIS DOES NOT…

                  WE NEED TRUTHFUL AND HONEST INFORMATION ON THE FLOOR. THIS DOES NOT PROHIBIT EXAMS. THIS DOESN'T MAKE LEGAL MANIPULATION OF MARKETS -- IT'S STILL ILLEGAL. WE HAVE SENSITIVE SOURCE CODE AND IF YOU WANT TO TAKE IT TO THE S.E.C., YOU GET A SUBPOENA. FRANKLY, WE THINK THERE ARE PROBLEMS. N.S.A. HAS BEEN HACKED. IF YOU COMPILE THIS INFORMATION, THE RISK THIS POSES TO OUR MARKETS I THINK THIS IS UNACCEPTABLE AND THIS IS A GOOD BILL AND WHY IT IS BIPARTISAN AND I ENCOURAGE ALL MEMBERS TO TAKE A STEP FORWARD FOR DUE PROCESS AND I YIELD BACK.

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                • 03:41:36 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN FROM TECH AS RESERVES. THE GENTLELADY FROM CALIFORNIA IS…

                  THE GENTLEMAN FROM TECH AS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                • 03:41:42 PM

                  MS. WATERS

                  THANK YOU VERY MUCH. GIVEN THE EXTREME VOLATILITY IN THE STOCK MARKETS…

                  THANK YOU VERY MUCH. GIVEN THE EXTREME VOLATILITY IN THE STOCK MARKETS OVER THE PAST FEW WEEKS, I'M PARTICULARLY TROUBLED BY TITLE 2, WHICH WOULD MAKE IT EASIER FOR TRADERS TO EVADE OVERSIGHT OF THEIR POTENTIALLY DISRUPTIVE AUTOMATED TRADING. THIS IS WIDELY OPPOSED BY NONPARTISAN CONSUMER AND INVESTOR GROUPS WHO RECOGNIZE THE IMPACT AUTOMATIC TRADING HAS ON OUR MARKETS. LET ME READ YOU EXCERPTS FROM A FEW LETTERS THAT HIGHLIGHT THE DANGERS OF TITLE 2. AMERICANS FOR FINANCIAL REFORM, A COALITION OF MORE THAN 200 CONSUMER, CIVIL RIGHTS INVESTOR RETIREE COMMUNITIES, LABOR, FAITH-BASED AND BUSINESS GROUPS WROTE, QUOTE, TITLE 2 WOULD PREVENT REGULATORS FROM INSPECTING NOT ONLY THE RAW SOURCE CODE USED IN AUTOMATIC TRADING BUT ALSO ANY INTELLECTUAL PROPERTY THAT FORMS THE BASIS FOR THE DESIGN OF SOURCE CODE. EXAMINATION OF SUCH INTELLECTUAL PROPERTY WOULD ONLY BE POSSIBLE IN AN ENFORCEMENT CONTEXT PURSUANT TO A SUBPOENA. THIS IMPLIES THAT THE S.E.C. WOULD HAVE TO WAIT UNTIL THE DAMAGE HAS BEEN DONE THROUGH A FLASH CRASH OR SIMILAR MARKET DISRUPTION BEFORE TAKING ANY ACTION WHICH WOULD HAVE TO BE RETROSPECTIVE. IN LIGHT OF THE SIGNIFICANCE OF AUTOMATED TRADING TO MODERN MARKETS AND THE POTENTIAL RISK OF HIGH FREQUENCY TRADING, IT MAKES NO SENSE TO TIE THE HANDS OF REGULATORS IN EXAMINING DETAILED TRADING STRATEGIES AND METHODS OF HIGH FREQUENCY TRADERS. CENTER FOR AMERICAN PROGRESS, QUAGSONNED, THAT IN AN ERA OF FLASH CRASH PRONE MARKETS, THE S.E.C. MAY HAVE A WIDE RANGE OF REGULATORY REASONS FOR WHY IT MAY NEED TO EXAMINE SOURCE CODES INCLUDING APROVALS OF NEW TRADING PRODUCTS OR THE SUPERVISION OF TRADING VENUES. THE S.E.C. SHOULD ONLY EXERCISE THAT AUTHORITY CAREFULLY AND UNDER THE STRICTEST PROTECTIONS FOR CONFIDENTIAL INFORMATION BUT BLOCKED BY LAW, DANGEROUSLY LIMITS THE S.E.C.'S ABILITY TO ADDRESS THE SIGNIFICANT TECHNOLOGY FACING THE FINANCIAL MARKETS. THE CONSUMER FEDERATION OF AMERICA, AN ASSOCIATION OF NEARLY 300 CONSUMER ADVOCACY GROUPS SIMPLY OPPOSE TITLE 2, BECAUSE IT WOULD QUOTE WEAKEN S.E.C. OVERSIGHT OF TRADING, HAMSTRING THE AGENCY FROM RESPONDING QUICKLY TO FLASH CRASHES OR OTHER MARKET BREAKDOWNS, END QUOTE. C.F.A., QUOTE, AT A TIME WHEN TRADING IS TAKING ON INCREASED IMPORTANCE IN OUR CAPITAL MARKETS, THIS BILL WOULD MAKE IT MORE DIFFICULT FOR S.E.C. TO PROPERLY OVERSEE SUCH TRADING. THE BILL WOULD REQUIRE THE S.E.C. TO ISSUE A SUBPOENA BEFORE IT COMPELS A PERSON TO PRODUCE OR FURNISH TO THE S.E.C. TRADING SOURCE CODE OR SIMILAR INTELLECTUAL PROPERTY. THIS WOULD UNDERMINE THE S.E.C.'S EXAMINATION AUTHORITY BY CREATING A GAPING HOLE IN ITS ABILITY TO GAIN ACCESS TO FIRM RECORDS RELEVANT TO THE EXAMINATION. WOULD ALSO HAVE A DEVASTATING EFFECT ON THE AGENCY'S ABILITY TO RESPOND QUICKLY IN THE EVENT OF ANOTHER FLASH CRASH OR SUCH EVENTS IN THE FUTURE IN ORDER TO OVERSEE THE MARKETS. THE S.E.C. NEEDS TO BE ABLE TO RECONSTRUCT ORDER ENTRY AND TRADING AND FOR TRADERS. END QUOTE. . QUOTE, MARKET VOLATILITY CAUSED NOT BY REAL EVENTS SUCH AS OUTBREAK OF WAR, BUT BY COMPUTERS, INCLUDING COMPUTER GLITCHES, THREATENS TO ERASE SAVINGS TO SOME INNOCENT INVESTORS AND ERODES JANINE VESTER CONFIDENCE -- ERODES GENERAL INVESTOR CONFIDENCE. THIS ATTESTS FOR THE NEED OF OWE BUST AND URGENT -- ROBUST AND URGENT SUPERVISORY INSPECTION. IN 2010 WHERE MARKETS COLLAPSED REVEALED THAT SUCH ROBUST AND URGENT SUPERVISION HAS BEEN LACKING. THE S.E.C. REQUIRED NEARLY A HALF-YEAR TO INVESTIGATE -- A HALF YEAR TO INVESTIGATE THIS INCIDENT BEFORE IDENTIFYING A FLAWED ALGORITHM AT ONE MAJOR TRADER. THE S.E.C. OVERSIGHT SHOULD BE STREAMLINED, NOT HAMPERED. TRADING INSTRUCTIONS AND RECORDS OF HUMAN TRADERS ARE ALREADY SUBJECT TO INSPECTION, SO IT SHOULD BE NO DIFFERENT FROM THOSE INSTRUCTIONS AND RECORDS GENERATED BY MACHINES. HIDING SOURCE CODE FOR REGULATORY SCRUTINY WILL LEAVE THOSE RESPONSIBLE FOR MISTAKES, AS WELL AS THOSE ATTEMPTING TO MANIPULATE MARKETS, UNACCOUNTABLE. END QUOTE. THESE LETTERS DEMONSTRATE THE WIDE OPPOSITION TO TITLE 2 BY GROUPS THAT TRULY UNDERSTAND THAT ROBUST OVERSIGHT OF ALGORITHMIC TRADING IS NECESSARY FOR THE HEALTH OF OUR MAKERS. I ASK UNANIMOUS CONSENT TO ENTER LETTERS FROM THESE GROUPS INTO THE RECORD. I RESERVE THE BALANCE OF MY TIME.

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                • 03:47:25 PM

                  THE SPEAKER PRO TEMPORE

                  WITHOUT OBJECTION, THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS IS…

                  WITHOUT OBJECTION, THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                • 03:47:30 PM

                  MR. HENSARLING

                  MADAM SPEAKER, I YIELD MYSELF 30 SECONDS TO SAY THE WIDESPREAD OPPOSITION…

                  MADAM SPEAKER, I YIELD MYSELF 30 SECONDS TO SAY THE WIDESPREAD OPPOSITION TO THE BILL ALLUDED TO BY THE RANKING MEMBER DOESN'T INCLUDE ROUGHLY HALF THE DEMOCRATS ON THE COMMITTEE. INCLUDING MR. FOSTER OF ILLINOIS , WHO IS QUOTED IN MARKUP AS SAYING, QUOTE, AS SOMEONE WHO CAN CODE IN SEVEN LANGUAGES, I UNDERSTAND THAT SOURCE CODE IS EQUALTATIVELY DIFFERENT THAN OTHER DOCUMENTS THAT A FIRM MIGHT HAVE AND THAT OUR REGULATORS SHOULD HAVE LEGITIMATE ACCESS. TO THEY ARE TRULY THE CROWN JEWELS OF AN ELECTRONIC TRADING FIRM AND THERE ARE OBVIOUS DANGERS THAT HAVE BEEN EXPOSED IN TRANSFERRING THINGS REALLY NOT JUST TO THE GOVERNMENT, TO ANY ENTITY. THE FIRST LINE OF DEFENSE IN CYBERSECURITY IS TO KEEP THE DATA AS CLOSELY HELD AS REASONABLE AND STILL BE ABLE TO DO YOUR JOB. I RESERVE THE BALANCE OF MY TIME.

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                • 03:48:23 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

                • 03:48:26 PM

                  MS. WATERS

                  I CONTINUE TO RESERVE THE BALANCE OF MY TIME.

                • 03:48:29 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEWOMAN RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS.

                • 03:48:33 PM

                  MR. HENSARLING

                  I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM ILLINOIS, MR.…

                  I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM ILLINOIS, MR. HULTGREN, THE VICE CHAIRMAN OF THE SUBCOMMITTEE ON CAPITAL MARKETS.

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                • 03:48:38 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN FROM ILLINOIS IS RECOGNIZED FOR TWO MINUTES.

                • 03:48:41 PM

                  MR. HULTGREN

                  THANK YOU, MADAM SPEAKER. THANK YOU, CHAIRMAN HENSARLING. WE'RE SO…

                  THANK YOU, MADAM SPEAKER. THANK YOU, CHAIRMAN HENSARLING. WE'RE SO GRATEFUL FOR YOUR WORK ON THIS PACKAGE OF BILLS THAT ARE SO IMPORTANT. I RISE TODAY TO SPEAK IN SUPPORT OF H.R. 3978, THE TRID IMPROVEMENT ACT. AND ALL THE ADDITIONAL MEASURES THAT HAVE BEEN INCLUDED IN THE RULES COMMITTEE PRINT. I'M A CO-SPONSOR OF FOUR OF THE FIVE BILLS. THE TRID IMPROVEMENT ACT MAKE IMPORTANT IMPROVEMENTS TO THE TRID DISCLOSURE FORMS SO HOME PURCHASERS HAVE THE ACCURATE REPRESENTATION OF TITLE COSTS. THIS IS A COMMONSENSE TECHNICAL FIX TO A 20-YEAR-OLD STATUTE THAT DIDN'T FORESEE AN INCREASE IN THE NUMBER OF EXCHANGES IN TODAY'S COMPETITIVE MARKET STRUCTURE. CURRENTLY EXCHANGES NOT NAMED IN THE LAW MUST HAVE SUBSTANTIALLY SIMILAR LISTING STANDARDS AS THOSE THAT ARE SPECIFICALLY NAMED. THIS MEANS THE CHICAGO STOCK EXCHANGE, CBOE, AND OTHERS THAT HAVE REGISTERED WITH THE S.E.C. SINCE 1996 CANNOT BE FIRST MOVERS IN ADOPTING INNOVATIVE LISTING STANDARDS. THE CHICAGO STOCK EXCHANGE HAS TOLD ME, AND I QUOTE, THIS CHANGE WOULD REMOVE THIS CURRENT IMPEDIMENT TO COMPANIES LISTING THEIR SECURITIES ON THE C.H.X. AND WOULD HELP IN THE EXCHANGE'S EFFORT TO DEVELOP A ROBUST PRIMARY LISTING MARKET HERE IN ILLINOIS. END QUOTE. I'M ALSO VERY SUPPORTIVE OF CHAIRMAN DUFFY'S LEGISLATION, THE PROTECTION OF SOURCE CODE ACT. AND I'M AN ORIGINAL CO-SPONSOR OF THAT. BECAUSE I RECOGNIZE THAT THE ENTIRE VALUE OF SOME COMPANY -- COMPANIES ARE EMBODIED IN THEIR SOURCE CODE. WE NEED TO HAVE STRONG CHECKS IN PLACE BEFORE OUR GOVERNMENT CAN DEMAND SUCH INFORMATION. THE CHAIRMAN OF THE CFTC CRITICIZED IT. HE SAID, THE SUBPOENA PROCESS PROVIDES PROPERTY OWNERS WITH DUE PROCESS OF LAW BEFORE THE GOVERNMENT CAN SEIZE THEIR PROPERTY. IT PROTECTS OWNERS OF PROPERTY, NOT THE GOVERNMENT THAT ALREADY HAS ABUNDANT POWER, END QUOTE. FINALLY, I WANT TO MENTION MY SUPPORT FOR THE FOSTERING INNOVATION ACT SPONSORED BY MS. SINEMA AND MR. HOLLINGSWORTH. I'M A CO-SPONSOR OF THOSE MEASURES AS WELL. I URGE ALL OF MY COLLEAGUES TO VOTE IN SUPPORT OF THESE VERY BIPARTISAN PACKAGE OF BILLS AND I YIELD BACK THE BALANCE OF MY TIME.

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                • 03:50:57 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                • 03:51:03 PM

                  MS. WATERS

                  I CONTINUE TO RESERVE MY TIME.

                • 03:51:04 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                • 03:51:08 PM

                  MR. HENSARLING

                  MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                  MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM TEXAS, MR. WILLIAMS, VICE CHAIRMAN OF OUR SUBCOMMITTEE ON MONETARY POLICY AND TRADE.

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                • 03:51:15 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN FROM TEXAS IS RECOGNIZED FOR TWO MINUTES.

                • 03:51:18 PM

                  MR. WILLIAMS

                  MADAM SPEAKER, I RISE IN SUPPORT OF H.R. 3978, THE TRID IMPROVEMENT ACT.…

                  MADAM SPEAKER, I RISE IN SUPPORT OF H.R. 3978, THE TRID IMPROVEMENT ACT. INTRODUCED BY MY COLLEAGUE, MR. HILL OF ARKANSAS. AND MR. KIHUEN FROM NEVADA. THIS IMPORTANT AND OVERWHELMINGLY BIPARTISAN LEGISLATION, WHICH PASSED OUT OF THE HOUSE FINANCIAL SERVICES COMMITTEE BY A VOTE OF 53-5, IS A STRAIGHTFORWARD, COMMONSENSE SOLUTION THAT WILL HELP HARDWORKING AMERICANS BUY A NEW HOME OR REFINANCE THEIR EXISTING HOME. UNDER THE CFPB'S MISNAMED KNOW BEFORE YOU OWE TRID RULE, THOSE IN THE HOME BUYING OR REFINANCING PROCESS MAY NOT ACTUALLY KNOW EVERYTHING ABOUT THE PRICE THEY'RE GOING TO PAY BEFORE CLOSING. BECAUSE THE TRID RULE AND THE RESTRICTIONS PLACED ON THE LISTING OF DISCOUNTED TITLE LOAN INSURANCE RATES ON LOAN ESTIMATES, CONSUMERS MAY SEE ONE TITLE LOAN INSURANCE PRICE ON THEIR ESTIMATE AND ANOTHER ON THEIR CLOSING FORM. THE TRID RULE CREATES UNNECESSARY CONFUSION AND THIS BILL IS A STEP IN THE RIGHT DIRECTION TO REDUCING THE BURDENSOME AND OVERREACHING AUTHORITY OF THE CFPB. I'M PROUD TO JOIN THIS BIPARTISAN EFFORT BUT DO I WISH THAT THE CFPB HAD BEEN MORE WILLING TO WORK WITH THE CHORUS OF VOICES FROM BOTH SIDES OF THE AISLE CALLING FOR THIS CHANGE. THE HOME BUYING EXPERIENCE IS COMPLICATED ENOUGH AS IT IS. AND THE RATIONALE DISPLAYED BY THE CFPB DISCOURAGES HOME OWNERSHIP AND LEVIES UNJUST PENALTIES FOR THOSE AMERICANS STRIVING FOR THE DREAM OF HOME OWNERSHIP. I'M PROUD TO JOIN MY COLLEAGUES IN SUPPORT OF THIS MEASURE, THE TRID IMPROVEMENT ACT. IN GOD WE TRUST. I YIELD MY TIME BACK.

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                • 03:52:43 PM

                  THE SPEAKER PRO TEMPORE

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

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

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                • 03:52:49 PM

                  MS. WATERS

                  I CONTINUE TO RESERVE MY TIME.

                • 03:52:50 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                • 03:52:56 PM

                  MR. HENSARLING

                  MADAM SPEAKER, I AM PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                  MADAM SPEAKER, I AM PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MAINE, MR. POLIQUIN, A VERY HARDWORKING MEMBER OF THE FINANCIALS -- FINANCIAL SERVICES COMMITTEE.

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                • 03:53:06 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN IS RECOGNIZED.

                • 03:53:08 PM

                  MR. POLIQUIN

                  THANK YOU, MADAM SPEAKER, VERY MUCH. I THANK YOU VERY MUCH, MR. CHAIRMAN,…

                  THANK YOU, MADAM SPEAKER, VERY MUCH. I THANK YOU VERY MUCH, MR. CHAIRMAN, FOR MOVING THIS VERY IMPORTANT PACKAGE OF BILLS THROUGH THE HOUSE FINANCIAL SERVICES COMMITTEE, AND NOW TO THE FLOOR. MADAM SPEAKER, I WANT TO CONGRATULATE FRENCH HILL, TERRIFIC CONGRESSMAN FROM THE STATE OF ARKANSAS, FOR THE GREAT WORK HE'S DONE IN RECONSTITUTING THE TRID IMPROVEMENT ACT. THIS BILL, MADAM SPEAKER, IS DESIGNED TO HELP OUR HOMEOWNERS OR WOULD-BE HOMEOWNERS GO THROUGH THE PROCESS COMFORTABLY AND EFFICIENTLY. AND ALSO HELP OUR FINANCIAL PROFESSIONALS WHO HELPED THEM IN TURN TO SECURE RESIDENTIAL MORTGAGES. THIS BILL, AS HAS BEEN NOTED EARLIER, MADAM SPEAKER, PASSED WITH VERY STRONG BIPARTISAN SUPPORT AND ENCOURAGE EVERYBODY ON THE FLOOR, REPUBLICANS AND DEMOCRATS, TO WEIGH IN WITH A YES VOTE ON H.R. 3978. NOW, MADAM SPEAKER, MR. HILL'S BILL HAS TWO VERY IMPORTANT PIECES THAT HELP OUR FAMILIES AND ALSO HELP OUR ECONOMY GROW. FIRST, IN TITLE 1, SECTION 101, THIS BILL ALLOWS TITLE INSURANCE COMPANIES TO ACCURATELY DISCLOSE THE PREMIUMS THEY CHARGE FOR THEIR SERVICE AND ALSO THE DISCOUNTS THAT ARE AVAILABLE TO OUR HOMEBUYERS ACROSS THE COUNTRY. RIGHT NOW THE CFPB DOES NOT ALLOW SUCH DISCLOSURES, WHICH IS UNFAIR AND CONFUSING FOR OUR HOMEBUYERS. MADAM SPEAKER, SECONDLY, IN TITLE 5, SECTION 501, THIS BILL INCLUDES THE ELIMINATING BARRIERS TO JOBS FOR LOAN ORIGINATORS ACT, OF WHICH I AM PROUDLY A CO-SPONSOR. THIS BILL, MADAM SPEAKER, ALLOWS MORTGAGE LOAN OFFICERS AT A BANK TO MOVE TO DO THE SAME WORK AT A NONBANK FINANCIAL INSTITUTION, WITHOUT SOMETIMES WAITING WEEKS OR MONTHS FOR REDUNDANT AND UNNECESSARY RELICENSING. THAT'S JUST NOT FAIR, MADAM SPEAKER. TO THE FOLKS WHO ARE TRYING TO HELP OUR FAMILIES SECURE MORTGAGES SO THEY CAN MOVE INTO A NEW PLACE TO WORK. SO, I ENCOURAGE EVERYBODY ON BOTH SIDES OF THE AISLE TO SUPPORT THIS EXCELLENT BILL. IT'S BIPARTISAN. AND AGAIN, I CONGRATULATE MR. FRENCH HILL FROM ARKANSAS AND I SALUTE CHAIRMAN FOR MOVING THIS SO QUICKLY THROUGH THE -- THE CHAIRMAN FOR MOVING THIS SO QUICKLY THROUGH THE PROCESS. THANK YOU VERY MUCH, MADAM SPEAKER.

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                • 03:55:24 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                • 03:55:29 PM

                  MS. WATERS

                  I CONTINUE TO RESERVE MY TIME.

                • 03:55:31 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                • 03:55:35 PM

                  MR. HENSARLING

                  MADAM SPEAKER, I NOW YIELD TWO MINUTES TO THE GENTLEMAN FROM NEW YORK, MR.…

                  MADAM SPEAKER, I NOW YIELD TWO MINUTES TO THE GENTLEMAN FROM NEW YORK, MR. ZELDIN, ANOTHER MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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                • 03:55:43 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN FROM NEW YORK IS RECOGNIZED FOR TWO MINUTES.

                • 03:55:46 PM

                  MR. ZELDIN

                  THANK YOU, MADAM SPEAKER. I RISE IN STRONG SUPPORT OF THE TRID IMPROVEMENT…

                  THANK YOU, MADAM SPEAKER. I RISE IN STRONG SUPPORT OF THE TRID IMPROVEMENT ACT. BIPARTISAN LEGISLATION INTRODUCED BY MY FRIEND FROM ARKANSAS, FRENCH HILL. I'M A PROUD CO-SPONSOR OF THIS LEGISLATION, WHICH COMBINES THREE BIPARTISAN PROPOSALS THAT WILL IMPROVE THE HOME BUYING PROCESS, PROTECT INTELLECTUAL PROPERTY, AND HELP EMERGING BUSINESSES THRIVE AND CREATE JOBS. BY REFORMING CONFUSING REGULATIONS THAT MAKE IT DIFFICULT FOR PERSPECTIVE BUYERS OR BUSINESSES TO GET TITLE INSURANCE, THIS LEGISLATION WILL HELP GET MORE FAMILIES INTO HOMES AND HELP LOCAL BUSINESSES GROW. BY PROTECTING THE INTELLECTUAL PROPERTY OF INVESTORS, WE ARE IMPROVING THE ACCESS TO CAPITAL THAT IS ESSENTIAL FOR GROWTH AND JOB CREATION IN COMMUNITIES WHERE MY DISTRICT IS LOCATED AND ALL ACROSS OUR COUNTRY. LAST BUT NOT LEAST, BY REFORMING THE OUTDATED DEFINITION WHAT HAVE CONSTITUTES AN EMERGING GROWTH COMPANY, THIS LEGISLATION TAKES IMPORTANT STEPS TOWARDS FOSTERING INNOVATION AND ENSURING THAT NEW BUSINESSES ARE NOT DISCOURAGED FROM EXPANSION AND JOB CREATION. THE SUM OF THESE IMPORTANT BIPARTISAN SOLUTIONS ARE MORE INOVATION, MORE HIRING, AND A MORE VIBRANT ECONOMY. I URGE ALL OF MY COLLEAGUES TO VOTE FOR THIS IMPORTANT PIECE OF LEGISLATION. I THANK MY COLLEAGUE, CONGRESSMAN HILL, FOR HIS LEADERSHIP WITH IT. AND CHAIRMAN HENSARLING AND HIS GREAT STAFF FOR ALL OF THEIR EFFORTS TO GET THIS BILL TO THE FLOOR. AND YIELD BACK.

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                • 03:57:09 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                • 03:57:14 PM

                  MS. WATERS

                  I CONTINUE TO RESERVE MY TIME.

                • 03:57:16 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                  THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                • 03:57:21 PM

                  MR. HENSARLING

                  MAY I INQUIRE IF THE RANKING MEMBER HAS ANY MORE SPEAKERS?

                • 03:57:27 PM

                  MS. WATERS

                  I HAVE NO MORE SPEAKERS.

                • 03:57:29 PM

                  MR. HENSARLING

                  IN THAT CASE, MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE…

                  IN THAT CASE, MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM GEORGIA, MR. LOUDERMILK, ANOTHER PROUD MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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                • 03:57:37 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN FROM GEORGIA IS RECOGNIZED FOR TWO MINUTES.

                • 03:57:39 PM

                  MR. LOUDERMILK

                  THANK YOU, MADAM SPEAKER. AND THANK YOU, CHAIRMAN HENSARLING, FOR YOUR…

                  THANK YOU, MADAM SPEAKER. AND THANK YOU, CHAIRMAN HENSARLING, FOR YOUR LEADERSHIP AND FOR ALLOWING ME TO COME HERE AND SPEAK IN SUPPORT OF THE TRID IMPROVEMENT ACT, AND THE OTHER BILLS THAT ARE IN THIS PACKAGE. MADAM SPEAKER, WE'VE SEEN COUNTLESS EXAMPLES OF OVERREGULAR -- OVER-REGULATION AND REGULATION -- REGULATORY MISSION CREEP BY MANY AGENCIES, ESPECIALLY THE CFPB. BUT ONE OF THE THINGS THE CFPB SHOULD BE DOING IS MAKING SURE THAT CONSUMERS HAVE THE RIGHT INFORMATION WHEN CLOSING ON A HOME UNFORTUNATELY THE CFPB'S 2015 MORTGAGE -- HOME. UNFORTUNATELY THE CFPB'S 2015 MORTGAGE DISCLOSURE ACT CAUSED MANY HOMEBUYERS NOT TO HAVE DISCLOSURE OF THEIR PREMIUMS. THE COMMONSENSE BILL PROPOSED BY MY COLLEAGUE, MR. HILL, WILL MAKE SURE THAT HOMEBUYERS KNOW EXACTLY THE COST OF THEIR TITLE INSURANCE, NOT TWO DIFFERENT PRICES FROM A LOAN ESTIMATE AND A CLOSING DOCUMENT. ALSO, I STRONGLY SUPPORT OTHER PIECES OF LEGISLATION THAT HAVE BEEN INCLUDED IN THIS PACKAGE. THE FSOC IMPROVEMENT ACT WILL MAKE REGULATION OF LARGE FINANCIAL INSTITUTIONS A MUCH SMARTER AND MORE EFFECTIVE -- INSTITUTIONS MUCH SMARTER AND MORE EFFECTIVE. INSTEAD OF JUST PUNISHING, REGULATORS SHOULD ALSO FOE ON WHAT SHOULD BE THE REAL PURPOSE -- FOCUS ON WHAT SHOULD BE THE REAL PURPOSE OF FINANCIAL REGULATIONS, WHICH ARE -- WHICH IS REDUCING RISK. MR. ROSS' BILL WILL ALSO ALLOW NONBANK FINANCIAL COMPANIES THE OPPORTUNITY TO REDUCE ANY RISKY OPPORTUNITIES BEFORE THEY ARE DESIGNATED AS SYSTEMICALLY IMPORTANT. THIS WILL HELP FINANCIAL REGULATORS TO ACHIEVE THEIR INTENDED PURPOSE, RATHER THAN SIMPLY BEING A GOTCHA GAME ON REGULATED COMPANIES. ALL OF THESE BILLS WE ARE CONSIDERING TODAY RECEIVED OVERWHELMING BIPARTISAN SUPPORT IN THE FINANCIAL SERVICES COMMITTEE AND URGE ALL OF MY COLLEAGUES TO SUPPORT THIS LEGISLATIVE PACKAGE AND I YIELD BACK.

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                • 03:59:25 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA VOIDS. -- IS RECOGNIZED.

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                • 03:59:37 PM

                  MS. WATERS

                  MAY I INQUIRE AS TO WHETHER OR NOT THE CHAIRMAN HAS MORE SPEAKERS?

                • 03:59:45 PM

                  MR. HENSARLING

                  MADAM SPEAKER, I WOULD TELL THE RANKING MEMBER, POTENTIALLY TWO IF THEY…

                  MADAM SPEAKER, I WOULD TELL THE RANKING MEMBER, POTENTIALLY TWO IF THEY MAKE IT. THEY'RE ON THEIR WAY FROM A HEARING. BUT THEY'RE NOT HERE NOW.

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                • 03:59:54 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

                • 03:59:58 PM

                  MS. WATERS

                  I HAVE NO FURTHER REQUESTS FOR TIME AND I'M PREPARED TO CLOSE.

                • 04:00:04 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY IS PREPARED TO CLOSE. THE GENTLELADY IS RECOGNIZED.

                • 04:00:07 PM

                  MS. WATERS

                  I YIELD MYSELF THE REMAINDER OF MY TIME. MADAM SPEAKER, IT'S BECOME PAR…

                  I YIELD MYSELF THE REMAINDER OF MY TIME. MADAM SPEAKER, IT'S BECOME PAR FOR THE COURSE FOR THE MAJORITY TO RECKLESSLY ADVANCE HARMFUL DEREGULATORY PACKAGES LIKE H.R. 3978. MY FRIENDS ON THE OTHER SIDE OF THE AISLE ARE MOVING FORWARD WITH REGULATORY ROADBLOCKS AT A FURIOUS PACE, PUSHING DANGEROUS BILLS THROUGH THE HOUSE NEARLY EVERY WEEK. IT APPEARS THAT THEY MAY HAVE ALREADY COMPLETELY FORGOTTEN THE WAY THAT LAX FINANCIAL REGULATION ALLOWED THE CRISIS IN 2008 TO OCCUR THAT. CRISIS BADLY DAMAGED THE -- OCCUR. THAT CRISIS BADLY DAMAGED THE WHOLE ECONOMY AND HARMED ALL OF OUR CONSTITUENTS. THE IMPACT WAS ENORMOUS. $13 TRILLION IN HOUSEHOLD WEALTH WAS LOST. $11 MILLION PEOPLE LOST THEIR HOMES TO FORECLOSURE. AND THE UNEMPLOYMENT RATE REACHED 10%. DEMOCRATS RESPONDED BY ENACTING WALL STREET REFORM, TO ENSURE THAT CONSUMERS, INVESTORS AND OUR ECONOMY WERE PROTECTED FROM RECKLESS ACTORS AND BAD PRACTICES. BUT NOW REPUBLICANS CANNOT WAIT TO TAKE US BACK TO THE BAD OLD DAYS. IT MAKES NO SENSE. . THE PACKAGE OF BILLS BEFORE US GUTS IMPORTANT PROTECTIONS WHEN MARKETS ARE ALREADY EXPERIENCING TURMOIL AND WOULD ALLOW HIGH FREQUENCY TRADERS TO MANIPULATE THE STOCK MARKETS UNDETECTED, ENCOURAGE REGULATORY RACE TO THE BOTTOM AT OUR NATION'S STOCK EXCHANGES, AND HARM INVESTORS BY WEAKENING EFFORTS TO DETECT ACCOUNTING FRAUD AT SMALLER PUBLIC COMPANIES THIS PACKAGE OF BILLS THREATENS IMPORTANT PROGRESS, MADE TO REDUCE RISK IN THE FINANCIAL SYSTEM AND RETURN INVESTOR CONFIDENCE IN IN RECENT WEEKS WE HAVE SEEN VOLATILE MARKETS THAT THREATEN THE SAVE OFFINGS HARDWORKING AMERICAN FAMILIES. THESE CIRCUMSTANCES SHOULD SERVE AS A LEER REMINDER THAT CONGRESS SHOULD BE STRENGTHENING OVERSIGHT OF THE FINANCIAL SYSTEM, NOT WEAKENING IT BY UNDERMINING OR REMOVING IMPORTANT PROTECTIONS. H.R. 3917 IS STRONGLY OPPOSED BY OUR STATE SECURITIES COPS AT THE FRONT LINE OF COMBATING FRAUD AND IT IS OPPOSED BY GROUPS REPRESENTING CONSUMERS, INVESTOR, AND UNIONS. FOR ALL OF THESE REASONS, I URGE MEMBERS TO OPPOSE H.R. 3978 AND YIELD BACK THE BALANCE OF MY TIME.

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                • 04:02:35 PM

                  THE SPEAKER PRO TEMPORE

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

                • 04:02:41 PM

                  MR. HENSARLING

                  MAY I INQUIRE HOW MUCH TIME I HAVE REMAINING, MR. SPEAKER?

                • 04:02:45 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN HAS SEVEN MINUTES REMAINING.

                • 04:02:52 PM

                  MR. HENSARLING

                  THERE MAY BE OTHER SPEAKERS COME, AT THE MOMENT, I YIELD MYSELF FOUR…

                  THERE MAY BE OTHER SPEAKERS COME, AT THE MOMENT, I YIELD MYSELF FOUR MINUTES, MADAM SPEAKER.

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                • 04:02:57 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN IS RECOGNIZED.

                • 04:02:59 PM

                  MR. HENSARLING

                  AGAIN, ALL OVER AMERICA TODAY, FORTUNATELY BECAUSE OF THE TAX CUT AND JOBS…

                  AGAIN, ALL OVER AMERICA TODAY, FORTUNATELY BECAUSE OF THE TAX CUT AND JOBS ACT, PEOPLE ARE WAKING UP TO NEW OPPORTUNITIES. THEY'RE FINALLY SEEING THEIR WAGES BEGIN TO GROW. WE'VE SEEN THE GREATEST WAGE GROWTH IN ALMOST A DECADES, MADAM SPEAKER. AGAIN, THANKS TO PRESIDENT TRUMP, THANKS TO A REPUBLICAN CONGRESS A BILL THAT WAS OPPOSED BY EVERY SINGLE DEMOCRAT. BUT AS THEY WAKE UP TO THESE NEW OPPORTUNITIES, MADAM SPEAKER, THEY ALSO NEED NEW CREDIT. SO AS THEIR INCOMES RISE, THIS IS GOOD, BUT THEY STILL NEED CREDIT IN ORDER TO BUY A HOME. IN ORDER TO PURCHASE THAT CAR. AND SOMETIMES JUST TO PUT GROCERIES ON THE TABLE. UNFORTUNATELY, OVER THE LAST EIGHT YEARS OF THE OBAMA ADMINISTRATION, WHERE WE SAW PROBABLY ONE OF THE GREATEST INCREASES IN THE COST, EXPENSE, BURDEN OF COSTLY WASHINGTON RED TAPE, WE HAVE SEEN FEWER CREDIT OPPORTUNITIES AND SO NOW, FORTUNATELY TODAY, THERE ARE MEN AND WOMEN, GOOD MEN AND WOMEN ON BOTH SIDES OF THE AISLE WHO ARE TRYING TO WORK TOGETHER TO BRING SOME RATIONALE AND REASON TO THE REGULATORY BURDEN. MANY MEMBERS ON THE OTHER SIDE OF THE AISLE DO REALIZE THAT DODD-FRANK DID NOT COME DOWN AS TABLETS FROM MOUNT SINAI. THAT IT ISN'T CHISELED INTO STONE. THAT MAYBE THERE ARE SOME IMPROVEMENTS THAT COULD BE MADE. SO TODAY WE'RE TAKING A NUMBER OF VERY BIPARTISAN BILLS TO THE HOUSE FLOOR. PROTECTING CONSUMERS' ACCESS TO CREDIT ACT, WHICH WE DEBATED EARLIER, MADAM SPEAKER, PASSED BY 42-17. THE TRADE IMPROVEMENT ACT BY MR. HILL OF ARKANSAS PASSED IN OUR COMMITTEE 5 -5. 90%. ALMOST ALL THE DEMOCRATS. BUT THE RANKING MEMBER. SUPPORTED THE BILL. PROTECTION OF SOURCE CODE. 46-14. FOSTERING INNOVATION. I SEE THE GENTLELADY FROM ARIZONA IS NOW ON THE FLOOR, PASSED BY A VOTE OF 48-12. A DEMOCRAT BILL. NATIONAL SECURITIES EXCHANGE REGULATORY PARITY ACT. 46-14. SO WE HAVE A LOT OF BIPARTISAN BILLS, BUT WITH ONE EXCEPTION, TITLE 5 OF THE TRADE IMPROVEMENT ACT, NONE OF THEM WERE SUPPORTED, UNFORTUNATELY, BY THE RANKING MEMBER. SO THERE'S AGAIN A LOT OF BIPARTISAN WORK WE'RE TRYING TO GET DONE HERE. UNFORTUNATELY, VERY LITTLE OF IT IS SUPPORTED BY THE RANKING MEMBER. WHY IS THIS IMPORTANT? IT'S IMPORTANT, MADAM SPEAKER, BECAUSE EVERY DAY WE'RE STILL HEARING FROM OUR CONSTITUENTS WHO NEED ACCESS TO COMPETITIVE AFFORDABLE CREDIT AND BECAUSE OF THIS WASHINGTON RED TAPE AND REGULATORY BURDEN, THEY'RE NOT GETTING IT. YOU KNOW, IT WASN'T THAT LONG AGO WE HEARD FROM ANN OF WISCONSIN WHO SAID, QUOTE, MY HUSBAND AND I HAD VERY HIGH CREDIT SCORES. WE HAVE PLENTY OF EQUITY IN OUR HOME, BUT BECAUSE MY HUSBAND HAS A SEASONAL JOB AND FINDS OTHER EMPLOYMENT IN THE WINTER, MANY BANKS WE CONTACTED REJECTED OUR LOAN REQUEST. THEY BASED OUR ANNUAL INCOME ONLY ON THE JOB HE HAS CURRENTLY AND SAID THAT WAS PART OF THE NEW REGULATION. PART OF THE NEW REGULATIONS. THERE'S SOMEBODY WHO CAN'T GET A HOME. I HEARD FROM MORTGAGE BANK FOR THE NORTH CAROLINA WHO SAID, LAST YEAR WE DECLINED A YOUNG MAN AND HIS FAMILY FIXED RATE FINANCING TO PURCHASE A PRIMARY HOME THE APPLICANT RECENTLY RELOCATED TO WORK FOR A FAMILY BUSINESS. PRIOR TO DODD-FRANK IT WOULD HAVE BEEN EASY TO QUALIFY, BUT NO MORE. ANOTHER POTENTIAL AMERICAN HOME BUYER DENIED CREDIT WAS OF THIS REGULATORY BURDEN. AND MADAM SPEAKER, THAT'S WHAT MANY OF US ON BOTH SIDES OF THE AISLE ARE TRYING TO REMEDY TODAY. AT THIS TIME, MADAM CHAIR, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLELADY FROM ARIZONA, MS. SINEMA, SPONSOR OF TITLE III OF THE ACT OF FOSTERING INNOVATION.

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                • 04:07:18 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY IS RECOGNIZED FOR TWO MINUTES.

                • 04:07:21 PM

                  MS. SINEMA

                  I RISE IN SUPPORT OF H.R. 3978, A PACKAGE OF COMMONSENSE SOLUTIONS, EACH…

                  I RISE IN SUPPORT OF H.R. 3978, A PACKAGE OF COMMONSENSE SOLUTIONS, EACH PASS WITH SUPPORT OF BOTH PARTIES. THANK YOU TO CONGRESSMAN HILL OF ARKANSAS FOR HIS LEADERSHIP IN MOVING THE PACKAGE FORWARD. ONE OF THESE SOLUTIONS IS H.L. 1635, THE FOSTERING INNOVATION ACT, LEGISLATION WE INTRODUCED TO HELP ARIZONA BIOPHARMACEUTICAL COMPANIES MAKE LIFE-SAVING BREAKTHROUGHS. BUSINESS EXPENSES ALWAYS INVOLVE TRADEOFFS. WHEN ARIZONA BUSINESSES SPEND MONEY ON COSTLY REGULATIONS THAT PROVIDE LITTLE PUBLIC BENEFIT, LESS TO INVEST IN JOB CREATION FOR ARIZONA FAMILIES. THAT'S WHY I INTRODUCED THIS BILL THIS FIX ENSURES BUSINESSES HAVE THE TIME AND CAPITAL TO PROTECT AND DEVELOP SCIENTIFIC BREAKTHROUGHS. RIGHT NOW THEY ARE EXEMPTED ONLY FOR FIVE YEARS FROM THESE COSTLY EXTERNAL AUDIT REQUIREMENTS. THAT'S OFTEN NOT ENOUGH TIME FOR THE EMERGING COMPANIES TO PREPARE INNOVATIONS FOR COMMERCIALIZATION. OUR BILL TEMPORARILY EXEMPTS EXTENSION FOR AN ADDITIONAL FIVE YEARS FOR A SMALL SUBSETH OF THE E.G.C.'S WITH AN ANNUAL REV LIEU OF LESS THAN $50 MILLION AND LESS THAN $700 MILLION IN PUBLIC FLOAT. THIS EMPOWERSEN INNOVATIVE ARIZONA COMPANIES TO USE VALUABLE RESOURCES TO REMAIN COMPETITIVE, STABLE, AND ULTIMATELY SUCCESSFUL. H.T. ZPWAMPLET TUCSON-BASED DEVELOPER OF TARGETED MOLECULAR TECHNOLOGY. THEIR INNOVATION ENSURES GENETIC TESTING CAN BE TURNED AROUND ACCURATELY AND QUICKLY IN AS LITTLE AS 24 HOURS. FOR PATIENTS, DOCTORS, AND THOSE GRAPPLING WITH UNEXPLAINED SYMPTOMS OR ILLNESSES, THOSE CAN PROVIDE CRITICAL INSIGHTS INTO LIFE 46 SAVING TREATMENTS. THIS IS WHAT COMPANIES LIKE H.G.C. SHOULD USE THEIR RESOURCES TO FUND, NOT COSTLY PAPERWORK. I URGE MY COLLEAGUES TO PASS THIS ACT. THANK YOU IN PARTICULAR TO CHAIRMAN HENSARLING AND CONGRESSMAN HOLLINGSWORTH OF INDIANA FOR WORKING WITH ME ON A CONSENSUS SOLUTION THAT CUT RED TAPE AND SUPPORTS INNOVATIVE AND POTENTIALLY LIFE-SAVING MEDICAL RESEARCH. THANK YOU, MR. SPEAKER, I YIELD BACK.

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                • 04:09:40 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY YIELDS BACK. THE GENTLEMAN IS RECOGNIZED.

                • 04:09:46 PM

                  MR. HENSARLING

                  HOW MUCH TIME DO I HAVE REMAINING?

                • 04:09:48 PM

                  THE SPEAKER PRO TEMPORE

                  ONE MINUTE REMAINING.

                • 04:09:50 PM

                  MR. HENSARLING

                  ONCE AGAIN, I WANT TO HEAR THE VOICE OS HALF -- OF HARDWORKING AMERICANS,…

                  ONCE AGAIN, I WANT TO HEAR THE VOICE OS HALF -- OF HARDWORKING AMERICANS, NOT JUST WASHINGTON, D.C., LETTERHEAD GROUPS. WE HEARD FROM A LOCAL BANKER WHO SAID A LOCAL UNION MEMBER WANTED TO REFINANCE HIS RESIDENCE, HE WAS LAID OFF DOOTH WINTER SEASON. HIS TAX RETURN SHOWED HE WAS GENERALLY LAID OFF FOR ABOUT SIX WEEKS EACH YORE DURING THE EXTREME COLD BUT WAS ALWAYS CALLED BACK WHEN WEATHER IMPROVE. SINCE HE WAS LAID OFF WE COULD NOT MEET THE REQUIREMENT TO VALIDATE HIS CURRENT INCOME THAT WOULD CONTINUE FOR THREE YEARS. WE HAD TO DENY THE LOAN. YET AGAIN, MR. SPEAKER, MORE WASHINGTON RED TAPE, TAKING AWAY HOME OPPORTUNITIES FROM HARDWORKING AMERICANS. IT IS WRONG. IT IS WRONG. WE MUST DO SOMETHING ABOUT IT. AND IT'S WHY ON A BIPARTISAN BASIS SO MANY OF US HAVE GOTTEN TOGETHER TO PASS H.R. 3978. YES, WE WANT TO MAKE SURE THAT PEOPLE CAN BUY HOMES, THEY CAN BUY CARS, THEY CAN PUT GROCERIES ON THE TABLE AND RIGHT NOW WHEN THE ECONOMY IS FINALLY STARTING TO IMPROVE, THANKS TO PRESIDENT TRUMP AND THE TAX CUT AND JOBS ACT, WE WANT THEM TO HAVE OPPORTUNITIES. I ENCOURAGE ALL MEMBERS TO SUPPORT H.R. 3978 AND I YIELD BACK THE BALANCE OF MY TIME.

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                • 04:11:05 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN FROM TEXAS YIELDS BACK. ALL TIME FOR DEBATE HAS EXPIRED. FOR…

                  THE GENTLEMAN FROM TEXAS YIELDS BACK. ALL TIME FOR DEBATE HAS EXPIRED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM ILLINOIS SEEK RECOGNITION?

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                • 04:11:21 PM

                  >>

                  MR. CHAIRMAN, I HAVE AN AMENDMENT AT THE DESK.

                • 04:11:25 PM

                  THE SPEAKER PRO TEMPORE

                  THE CLERK WILL DESIGNATE THE AMENDMENT.

                • 04:11:27 PM

                  THE CLERK

                  AMENDMENT NUMBER 1 PRINTED IN PART C OF HOUSE REPORT 115-559, OFFERED BY…

                  AMENDMENT NUMBER 1 PRINTED IN PART C OF HOUSE REPORT 115-559, OFFERED BY MR. FOSTER OF ILLINOIS.

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                • 04:11:37 PM

                  An amendment, offered by Mr. Foster, numbered 1 printed in Part C of Report 115-559 to clarify that the requirement applies only to proprietary source code related to algorithmic trading, which contains prescriptive information.

                  • 04:11:39 PM

                    TEMPORE PURSUANT

                    PURSUANT TO THE RULE, THE GENTLEMAN FROM ILLINOIS, MR. FOSTER, AND A…

                    PURSUANT TO THE RULE, THE GENTLEMAN FROM ILLINOIS, MR. FOSTER, AND A MEMBER OPPOSED EACH WILL CONTROL FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ILLINOIS.

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              • 04:11:40 PM

                DEBATE

                Pursuant to the provisions of H. Res. 736, the House proceeded with 10 minutes of debate on the Foster amendment No. 1.

                • 04:11:46 PM

                  MR. FOSTER

                  MY AMENDMENT CLARIFIES THIS BILL IS ONLY INTENDED TO APPLY TO THE SOURCE…

                  MY AMENDMENT CLARIFIES THIS BILL IS ONLY INTENDED TO APPLY TO THE SOURCE CODE UNDERPINNING ALGO RHYTHMIC TRAINING. THE ALGO RHYTHMIC SOURCE CODE OF A TRADING FIRM ARE ITS CROWN JEWELS AND ITS -- BASICALLY THE CORE OF ITS EXISTENCE AND ITS INTELLECTUAL PROPERTY. IT IS NOT MERELY HISTORICAL OR DESCRIPTIVE LIKE BOOKS OF RECORDS THAT REGULATORS ROUTINELY HAVE ACCESS TO. IT'S NOT A BROAD EXPRESSION OF STRATEGIES THEY MAY USE IN THE FUTURE. RATHER IT'S A SPECIFIC AND PRESCRIPTIVE ALGORITHM. THE FIRMS THAT RELY ON ALGO RHYTHMIC TRADING HAVE PH.D. SCIENTISTS RESEARCHING CORRELATIONS THAT LEAD THAT THESE RELATIONSHIPS BETWEEN THE INPUTS AND OUTPUTS. THESE MAY BE SIMPLE BUT MAY ALSO BE INCREDIBLY COMPLEX, INVOLVING MULTIPLE INOUTS -- INPUTS THAT DO NOT REA-- APPEAR RELATED AT FIRST GLANCE THIS COMPLEXITY COUPLED WITH THE FACT THAT THEY ARE WRITTEN LARGELY IN COMPUTER CODE LIMITS THE EFFECTIVENESS OF EXAMINING SOURCE CODE. IT IS RATHER THE BEHAVIOR OF THE FIRM IN THE MARKET THAT REPRESENTS VIOLATION OF SECURITY LAWS. MANIPULATIVE BEHAVIOR LIKE DISPLAY ARGUE CANCELING ORDERS SHOULD PROMPT REGULATORS TO ASK THE FIRM TO EXPLAIN IT. SOURCE CODE WOULD BE AND WILL BE A VALUABLE PART OF ANY INVESTIGATION OR ENFORCEMENT ACTION INTO OBSERVED MANIPULATION OF THE MARKET BUT THIS IS NOT THE BASIS AND SHOULD NOT BE THE BASIS FOR CASUAL INSPECTION. IT WOULD BE -- PROBABLY BE CENTRAL TO PROVIDING THE ELEMENT OF INTENT IN AN ENFORCEMENT ACTION BECAUSE IT DEMONSTRATES THE ALGORITHM WAS DESIGNED TO ENGAGE IN FOR EXAMPLE, MANIPULATIVE OR ABUSIVE BEHAVIOR. TO THIS END, IT'S IMPERATIVE THAT THE FIRMS ACHIEVE ARCHIVED VERSIONS IN EFFECT AT ANY FWIVEN TIME AND LOG MODIFICATIONS TO THE ALGORITHMS AND WHO MADE THEM AT ANY TIME THE CODE IS ALTERED. THESE SHOULD ALWAYS BE AVAILABLE BY SUBPOENA. ADDITIONALLY, I BELIEVE MOST FIRMS WOULD ALLOW THE REGULATORS ON SITE TO EXAMINE THE SOURCE CODE ON AN AIR GAP COMPUTER. TO TREAT THE SOURCE CODE WOULD NOT LIMIT THE REGULATOR TO LEGLATION -- REGULATION BUT WOULD ALLOW THE STAFF TO REQUEST IT WHICH HAS REAL DANGERS. BUZZ OF THE VALUE OF THE FIRM CARRIES WITH ITS PROPRIETARY ALGORITHMS, IT MAKES SENSE THEY'D BE RELUCK TABT TO ALLOW ANY UNDUE ACCESS TO ITS CROWN JEWELS. AND THAT IS REALLY, I BELIEVE, AND I THINK THE MAJORITY OF MY COLLEAGUES BELIEVE, THAT IS SOMETHING THAT SHOULD BE ACCESSIBLE ONLY VIA SUBPOENA. SO MY AMENDMENT SIMPLY CLARIFIES THAT IT IS ONLY THE ALGO RHYTHMIC TRADING CODE AND RELATED INFORMATION THAT SHOULD BE COVERED. I URGE MY COLLEAGUES TO SUPPORT MY AMENDMENT AND UPON ITS ADOPTION TO SUPPORT THE BILL ON FINAL PASSAGE. THANK YOU AND I RESERVE THE BALANCE OF MY TIME.

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                • 04:14:56 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLEMAN RESERVES. FOR WHAT PURPOSE DOES THE GENTLELADY FROM…

                  THE GENTLEMAN RESERVES. FOR WHAT PURPOSE DOES THE GENTLELADY FROM CALIFORNIA SEEK RICK IN ADDITION?

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                • 04:15:03 PM

                  MS. WATERS

                  TO CLAIM TIME IN OPPOSITION TO THE AMENDMENT.

                • 04:15:08 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY IS RECOGNIZED.

                • 04:15:11 PM

                  MS. WATERS

                  THE CURRENT CODE WOULD REQUIRE S.E.C. EXAMINATION TO OBTAIN A SUBPOENA…

                  THE CURRENT CODE WOULD REQUIRE S.E.C. EXAMINATION TO OBTAIN A SUBPOENA BEFORE IT COULD INSPECT ANY SOURCE CODE WHATSOEVER, INCLUDING, FOR EXAMPLE, COMPUTER CODE REFLECTING THE FIRM'S ADHERENCE TO THE S.E.C.'S CYBER SECURITY REGULATIONS, THE AMENDMENT OFFERED BY MR. FOSTER WOULD NARROW THE REQUIREMENT IN TITLE 2 TO ONLY APPLY TO PROPRIETARY SOURCE CODE RELATED TO ALGO RHYTHMIC TRADING. WHILE I APPLAUD MR. FOSTER AND THE AMENDMENT'S CO-SPONSOR FOR NARROWING THE OVERBROAD LANGUAGE OF TITLE 2, IT CANNOT FIX THE UNTIMELY AND ILL-ADVISED LEGISLATION. EVEN AS AMENDED, TITLE 2 WOULD EFFECTIVELY UNDERMINE OVERSIGHT OF CREATORS WHO STAND TO BENEFIT FROM THE KIND OF EXTREME MARKET VOLATILITY WE HAVE SEEN IN THE LAST FEW WEEK. LET'S NOT FORGET THAT ON MAY 6, 2010, IN AN EVENT REFERRED TO AS THE FLASH CRASH, MAJOR UGS STOCK INDICES INEXPLICABLY PLUMMETED ONE TRILLION IN LESS THAN AN HOUR BEFORE MOSTLY REBOUNDING. . THEY TOOK FIVE MINUTES TO DETERMINE THE FLASH CRASH WAS CAUSED BY A COMBINATION OF A FLAWED EXECUTION ALGORITHM OF ONE INSTITUTIONAL INVESTOR AND AGGRESSIVE ALGORITHMIC TRADING BY F.T.S. WHILE IT'S TOO EARLY TO TELL WHAT CAUSED VOLATILITY IN THE U.S. STOCK MARKETS, MARKET ANALYSTS HAVE SUGGESTED THAT ALGOGH MYTH RICK -- ALGORITHMIC TRADING MAY BE IT. THE BIGGEST ONE DAY POINT DROP IN HISTORY HAPPENED LAST WEEK. TREASURY SECRETARY STEVE MNUCHIN TESTIFIED BEFORE THE HOUSE FINANCIAL SERVICES COMMITTEE THAT ALGORITHMIC TRADING, QUOTE, DEFINITELY HAD AN IMPACT ON MARKET MOVES, QUOTE-UNQUOTE. GIVEN THIS TRADING IN OUR STOCK MARKET, THIS INFORMATION ENABLED SUCH ACTIVITY MERELY BECAUSE IT IS -- IT EXISTED IN AN ELECTRONIC FORMAT. AMERICANS THAT HAVE TRILLIONS OF DOLLARS IN 401-K AND OTHER RETIREMENT AND SAVINGS PLANS DESERVE THE S.E.C.'S BEST EFFORTS IN INVESTIGATING AND MITIGATING COMPUTER-DRIVEN MARKET DISRUPTIONS. FOR THIS REASON AND FOR ALL OF THESE REASONS AND GIVEN MY BROADER CONCERNS THAT THE BILL WOULD SIGNIFICANTLY HARM INVESTOR CONFIDENCE IN OUR MARKETS EVEN IF THE AMENDMENT IS ADOPTED, I AM URGING A NO VOTE ON H.R. 3978. I YIELD BACK THE BALANCE OF MY TIME.

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                • 04:18:06 PM

                  THE SPEAKER PRO TEMPORE

                  THE GENTLELADY FROM CALIFORNIA YIELDS BACK THE BALANCE OF HER TIME. THE…

                  THE GENTLELADY FROM CALIFORNIA YIELDS BACK THE BALANCE OF HER TIME. THE GENTLEMAN FROM ILLINOIS IS RECOGNIZED.

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                • 04:18:11 PM

                  MR. FOSTER

                  I'D LIKE TO SIMPLY REITERATE IT SHOULD BE THE ACTIONS IN THE MARKET THAT…

                  I'D LIKE TO SIMPLY REITERATE IT SHOULD BE THE ACTIONS IN THE MARKET THAT ARE THE FIRST INDICATIONS THAT THE REGULATORS SHOULD HAVE A LOOK AT. WHEN THEY SEE SUSPICIOUS ACTIVITY IN THE MARKET, THAT IS THE TIME TO GET THE SUBPOENA AND GO AFTER THE SOURCE CODE. AND SO WITH THAT I JUST URGE THE ADOPTION OF THE AMENDMENT AND PASSAGE OF THE UNDERLYING BILL. I YIELD BACK THE BALANCE.

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                • 04:18:36 PM

                  THE SPEAKER PRO TEMPORE

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

                  THE GENTLEMAN FROM ILLINOIS YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME EXPIRING ON THE AMENDMENT, PURSUANT TO THE RULE, THE QUESTION IS ON ORDERING -- THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM ILLINOIS, MR. FOSTER. THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM ILLINOIS, MR. FOSTER. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT AND THE AMENDMENT IS AGREED TO. THIRD READING OF THE BILL. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THIRD READING.

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                • 04:18:39 PM

                  The previous question was ordered on the bill and amendment pursuant to the rule.

                • 04:18:53 PM

                  On agreeing to the Foster amendment; Agreed to by voice vote.

                  • 04:19:11 PM

                    THE CLERK

                    A BILL TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO…

                    A BILL TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO MODIFY REQUIREMENTS RELATED TO MORTGAGE DISCLOSURES AND FOR OTHER PURPOSES. MR. CAPUANO MOVES TO REPORT THE SAME BACK TO THE HOUSE FORTHWITH WITH THE FOLLOWING AMENDMENT --

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                  • 04:19:26 PM

                    Mr. Capuano moved to recommit with instructions to the Committee on Financial Services.

                    • 04:19:40 PM

                      MR. CAPUANO

                      MR. SPEAKER, WITHOUT OBJECTION, I ASK THE READING BE WAIVED? YOU WANT TO…

                      MR. SPEAKER, WITHOUT OBJECTION, I ASK THE READING BE WAIVED? YOU WANT TO READ IT?

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                    • 04:19:49 PM

                      THE SPEAKER PRO TEMPORE

                      THE GENTLEMAN FROM TEXAS RESERVES A POINT OF ORDER. IS THERE OBJECTION TO…

                      THE GENTLEMAN FROM TEXAS RESERVES A POINT OF ORDER. IS THERE OBJECTION TO REQUEST FOR WAIVING THE READING OF THE AMENDMENT -- OR THE MOTION TO RECOMMIT? THERE IS OBJECTION. CLERK WILL READ.

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                    • 04:20:00 PM

                      THE CLERK

                      PAGE 5, LINE 13, STRIKE -- PAGE 5, LINE 14, STRIKE THE PERIOD AND INSERT…

                      PAGE 5, LINE 13, STRIKE -- PAGE 5, LINE 14, STRIKE THE PERIOD AND INSERT AND. PAGE 5 AFTER LINE 14 INSERT THE FOLLOWING -- D. HAS CLAWBACK POLICIES TO REQUIRE ANY EXECUTIVE OFFICE INCENTIVE BASE COMPENSATION TO THE CLAW BACK IN THE EVENT THE ISSUER IS REQUIRED TO PREPARE AN ACCOUNTING RESTATEMENT DUE TO THE MATERIAL NONCOMPLIANCE OF THE ISSUER WITHOUT ANY FINANCIAL REPORTING REQUIREMENT UNDER THE SECURITIES LAWS AS DESECTIONED IN 3-A OF THE SECURITIES EXCHANGE ACT OF 1934 REGARDLESS OF WHETHER SUCH COMPENSATION WAS PAID TO AN OFFICER WHO WAS A PARTY TO THE ACTIONS THAT RESULTED IN SUCH RESTATEMENT.

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                    • 04:20:46 PM

                      TEMPORE PURSUANT

                      PURSUANT TO THE RULE, THE GENTLEMAN FROM MASSACHUSETTS IS RECOGNIZED FOR…

                      PURSUANT TO THE RULE, THE GENTLEMAN FROM MASSACHUSETTS IS RECOGNIZED FOR FIVE MINUTES IN SUPPORT OF HIS MOTION.

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                    • 04:20:50 PM

                      MR. CAPUANO

                      THANK YOU, MR. SPEAKER. MY AMENDMENT SIMPLY REQUIRES A COMPANY TO HAVE A…

                      THANK YOU, MR. SPEAKER. MY AMENDMENT SIMPLY REQUIRES A COMPANY TO HAVE A POLICY IN PLACE TO CLAW BACK EXECUTIVES INCENTIVE BASE PAY IF IT IS MATERIALLY NONCOMPLIANT WITH FINANCIAL REPORTING REQUIREMENTS. NOW, THOSE WORDS MATTER BECAUSE THE WORDS MATERIALLY NONCOMPLIANT MEANS SOMETHING IN THE ACCOUNTING WORLD. IT HAS TO BE A BIG CHANGE. NOT A LITTLE ACCOUNTING ERROR. THIS AMENDMENT SHOULD BE NONCONTROVERSIAL. IT'S SHORTSIGHTED A DECADE AFTER THE CRISIS WE STILL DON'T HAVE COMMONSENSE SAFEGUARDS IN PLACE TO ENSURE THAT C.E.O.'S DO NOT TURN A BLIND EYE TO PROBLEMS THAT LEAD TO A PUBLIC RESTATEMENT OF THEIR COMPANY'S FINANCIALS. THIS ISN'T SOMETHING HYPOTHETICAL. IT HAPPENS ON A PRETTY REGULAR BASIS. IT'S NOT RELEGATED TO JUST THE PAST. EVERYBODY HERE IS PRETTY FAMILIAR WITH WELLS FARGO BANK. WELL, THEY GENERATED SCANDAL AFTER SCANDAL BY RIPPING OFF -- RIPPING OFF ITS OWN CONSUMERS. LAST YEAR THE BANK SETTLED AN 1-YEAR LAWSUIT WITH THE DEPARTMENT OF JUSTICE BECAUSE IT OVERCHARGED VETERANS WHO APPLIED FOR HOME LOAN REFINANCING. AT THE SAME TIME RELEARNED OF HUNDREDS OF THOUSANDS OF CAR INSURANCE, CAR LOAN CUSTOMERS CHARGED FOR CAR INSURANCE THAT THEY NEVER AGREED TO PURCHASE. IN 2016, WE LEARNED OF MILLIONS OF FAKE DEPOSITS AND CREDIT CARD STATEMENTS OPENED UP BY WELLS FARGO AND THEN CHARGING THEIR CUSTOMERS. LAST SEPTEMBER, THE BANK FAILED TO REFUND INSURANCE PAYMENTS MADE BY CUSTOMERS WHO PAID OFF THEIR CAR LOANS EARLY. AND MOST RECENTLY FOUND OUT THEY DELAYED MORTGAGE CLOSING DATES IN ORDER TO JACK UP THEIR OWN FEES. THESE ABUSES COME ON TOP OF A $10 BILLION IN FINES BY THAT BANK THAT'S BEEN PAID IN RECENT YEARS FOR EVERYTHING FROM MORTGAGE FRAUD, ILLEGAL MARKETING, KICKBACK SCHEMES, INSIDER TRADING, RACIAL DISCRIMINATION, AND STUDENT LOAN SCAMS. AND YET, THE BANK BELIEVES THAT THIS KIND OF CONSISTENT MISCONDUCT IS NOT MATERIALLY FINANCIALLY IMPORTANT ENOUGH TO REQUIRE A RESTATEMENT. WELLS FARGO'S ONLY EVER CLAWED BACK A FEW TINY DOLLARS FROM ITS EXECUTIVES. ALL THIS AMENDMENT DOES IS RECOMMIT -- RECOMMIT DOES IS SIMPLY SAYS THAT IF YOU COMMIT AN ACT THAT REQUIRES A MATERIAL CHANGE IN YOUR PUBLIC STATEMENTS THAT YOU SHOULDN'T PROFIT BY IT. THAT'S ALL. NOT BASIC PAY, JUST THE INCENTIVE PAY TIED TO THOSE ACTIONS. THE UNDERLYING BILL GOES IN THE OPPOSITE DIRECTION. IT MAKES IT MORE LIKELY THAT THERE WILL BE MATERIALLY INACCURACIES IN CERTAIN COMPANY S' CERTAIN FINANCIAL STATEMENTS. WE SHOULD AT THE VERY LEAST NOT INCENTIVIZE THAT BAD BEHAVIOR. TITLE 3 OF THIS BILL ALLOWS NEW PUBLIC COMPANIES TO GET OUT OF AUDIT REQUIREMENTS FOR 10 YEARS. 10 YEARS. NOW, WE ALL THINK, WELL, THAT'S FINE FOR A SMALL COMPANY. SMALL COMPANY? UP TO $700 MILLION OF COMPANY SHARES, THAT'S A SMALL COMPANY? THOSE ARE SIGNIFICANT COMPANIES THAT PUTS LOTS OF PEOPLE AT RISK. SHAREHOLDERS AND INVESTORS. IN 2002, THE SARBANES-OXLEY ACT -- AND I WANT TO REPEAT -- THE SARBANES-OXLEY ACT BECAUSE MIKE OXLEY WAS THE REPUBLICAN CHAIR OF THE FINANCIAL SERVICES COMMITTEE AT THE TIME, REQUIRED COMPANIES TO ISSUE STOCK TO PUBLICLY REPORT THEIR INTERNAL CONTROL STRUCTURES AND PROCEDURES FOR FINANCIAL REPORTING. THOSE REPORTS HAVE TO BE ATTESTED TO AND COVERED IN AN AUDIT REPORT. THERE'S NO REASON WHY INDEPENDENT AUDIT OF LARGE CORPORATIONS A GOOD THING. IT MAKES IT HARDER FOR THEM TO HIDE BAD ACTIONS. THIS RECOMMIT, AGAIN, IT'S SIMPLE. IT DOESN'T CHANGE THE UNDERLYING BILL. IT SIMPLY SAYS IF A CORPORATION MAKES A MATERIAL CHANGE TO ITS PUBLICLY STATED FINANCIAL RECORDS IN EXECUTIVE'S PAY, INCENTIVE PAY HAS BEEN TIED TO THE PROFITS MADE OFF OF THAT NOW-CHANGED POLICY, A COMPANY HAS TO HAVE A POLICY IN PLACE WHEREBY TO CLAW BACK THOSE ILL-GOTTEN PROFITS. I DON'T THINK THAT'S CONTROVERSIAL. I DON'T THINK THAT'S PARTISAN. I DON'T THINK THAT'S ANTI-BUSINESS. I DON'T THINK THAT'S OVERREGULATION. IT'S SIMPLY FAIR. WE DON'T LET BANK ROBBERS KEEP THEIR MONEY. WE DON'T LET OTHER PEOPLE WHO COMMIT WRONG DOINGS KEEP THE PROFITS THAT THEY HAVE. WHY SHOULD WE LET CORPORATIONS WHO GO OUT OF THEIR WAY -- SOME, NOT ALL -- ONLY A HANDFUL GO OUT OF THEIR WAY TO MAKE SURE THAT THEY HIDE THEIR BAD ACTIONS, REPORT THEM BADLY AND WHEN THEY GET CAUGHT AND HAVE TO REPORT THEM APPROPRIATELY THEY STILL GET TO KEEP THE ILL-GOTTEN GAINS. THAT IS ALL THIS RECOMMIT DOES. IT IS SIMPLY. IT IS STRAIGHTFORWARD, AND I WOULD HOPE MY FRIENDS ON NOT JUST THE OTHER SIDE BUT ON BOTH SIDES OF THIS AISLE SEE THIS AS A THOUGHTFUL, INCITEFUL AND COMMENS APPROACH TO AMEND THIS -- COMMONSENSE APPROACH TO AMEND THIS BILL. WITH THAT I YIELD BACK THE REMAINDER OF MY TIME.

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                • 04:20:53 PM

                  DEBATE

                  The House proceeded with 10 minutes of debate on the motion to recommit with instructions, pending the reservation of a point of order.The instructions contained in the motion seek to require the bill to be reported back with an amendment to extend exemptions to include companies that have claw back policies that require any executive officer incentive-based compensation to be clawed-back in the event that the issuer is required to prepare an accounting restatement due to the material noncompliance of the issuer with any financial reporting requirement under the securities laws, regardless of whether such compensation was paid to an officer who was a party to the actions that resulted in such restatement. Subsequently, the point of order was removed.

                  • 04:26:21 PM

                    THE SPEAKER PRO TEMPORE

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

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

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                  • 04:26:26 PM

                    MR. HENSARLING

                    MR. SPEAKER, I WITHDRAW MY RESERVATION. I CLAIM TIME IN OPPOSITION.

                  • 04:26:30 PM

                    THE SPEAKER PRO TEMPORE

                    THE GENTLEMAN FROM TEXAS IS RECOGNIZED FOR FIVE MINUTES.

                  • 04:26:33 PM

                    MR. HENSARLING

                    MR. SPEAKER, I LISTENED VERY CAREFULLY TO MY COLLEAGUE ON THE FINANCIAL…

                    MR. SPEAKER, I LISTENED VERY CAREFULLY TO MY COLLEAGUE ON THE FINANCIAL SERVICES COMMITTEE. I LOST TRACK AT HOW MANY TIMES HE MENTIONED WELLS FARGO. THAT HAS NOTHING TO DO WITH AN EARLY GROWTH COMPANY. THAT HAS NOTHING TO DO WITH THIS TITLE OF THE BILL. AND SO THE FOSTERING INNOVATION ACT BY THE GENTLELADY FROM ARIZONA IS ALL ABOUT ALLOWING EMERGENCY -- EMERGING GROWTH COMPANIES THE OPPORTUNITY TO ACTUALLY GROW. WHAT A NOVEL CONCEPT. WHAT WE KNOW IS, MR. SPEAKER, IN EIGHT YEARS -- OF EIGHT YEARS OF OBAMANOMICS THEY WERE ONLY ABLE TO PRODUCE 8% OF ECONOMIC GROWTH. FOR ALL INTENTS AND PURPOSES, NOBODY'S SAVINGS CAME BACK, WAGES ARE STAGNANT. AND NOW THAT WE HAVE SENSIBLE REGULATION, NOW WE PASSED THE TAX CUT AND JOBS GROWTH ACT, NOW WE HAVE 3% ECONOMIC GROWTH WHICH IS ECONOMIC GROWTH FOR AMERICA'S WORKING FAMILIES. UNEMPLOYMENT IS AT A 17-YEAR LOW. IT REMAINS AT A 17-YEAR LOW. AGAIN, WAGES GREW AT 2.9% LAST YEAR, THE FASTEST IN ALMOST A DECADE. TWO MILLION AMERICANS HAVE GONE BACK TO WORK, MR. SPEAKER, AND THIS ISN'T BY ACCIDENT. AND SO WHAT THE GENTLEMAN IS DOING WITH HIS MOTION TO RECOMMIT IS SENDING US BACK. HE'S ROLLING THE CLOCK BACK, AN ERA WHERE WORKING AMERICANS DIDN'T GET AHEAD. WHERE ENTREPRENEURSHIP WAS AT A GENERATIONAL LOW. WHERE SMALL BUSINESSES WERE FINDING IT LARD TO ACCESS LINES OF CREDIT. AND SO THE BILL THAT HE SO MUCH MALIGNS FROM THE GENTLELADY FROM ARIZONA, WHO HAPPENS TO RESIDE ON HIS SIDE OF THE AISLE, AT MARKUP, THE RANKING MEMBER OF THE RELEVANT SUBCOMMITTEE, THE GENTLELADY FROM NEW YORK, MRS. MALONEY, SUPPORTED THE PROVISION AND SAID, QUOTE, THIS IS A SENSIBLE COMPROMISE THAT PROVIDES A NARROWLY TARGETED RELIEF TO ONLY THE COMPANIES THAT TRULY NEEDED. RESEARCHING A NEW DRUG AND GETTING F.D.A. APPROVAL IS A VERY, VERY LONG PROCESS. WHICH IS EXACTLY WHAT WE HEARD IN OUR COMMITTEE. WE HEARD FROM -- FOR EXAMPLE, WE HEARD FROM JOHN BLAKE, SENIOR VICE PRESIDENT OF FINANCE AT ATEAR PHARMA TESTIFIED WHO SAID, IT REMAINS THE CASE THAT THE BIODEVELOPMENT TIMELINE IS A DECADES' LONG AFFAIR. IT'S EXTREMELY LIKELY THAT WE WILL BE IN THE LAB AND CLINIC WHEN OUR E.G.C., EARLY GROWTH COMPANY -- THEY MAY HAVE REVENUES BUT THEY DON'T HAVE PROFITS. THEY WON'T HAVE PROFITS. THIS IS ESPECIALLY COMMON IN A BIOTECH AREA. THEY NEED THIS CAPITAL FOR INNOVATION. AND SO ONCE AGAIN WE HAVE HEARD THIS RHETORIC ON THE OTHER SIDE OF THE AISLE BEFORE. THIS IS ALL ABOUT DODD-FRANK REVISITED. THEY AIM AT WALL STREET BUT THEY HIT MAIN STREET, MR. SPEAKER. THE M.T.R., THE MOTION TO RECOMMIT HITS MAIN STREET IN THE GUT. IT WILL MEAN FEWER EARLY GROWTH COMPANIES. IT WILL MEAN FEWER JOBS. IT WILL MEAN LOWER WAGE GROWTH AND IT WILL MEAN, AGAIN, A DECIMATED AND DECLINING AMERICAN DREAM. WE SHOULD REJECT THE MOTION TO RECOMMIT AND WE SHOULD SUPPORT THE UNDERLYING BILL AND I YIELD BACK THE BALANCE OF MY TIME.

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                  • 04:30:17 PM

                    THE SPEAKER PRO TEMPORE

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

                    THE GENTLEMAN FROM TEXAS YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME HAVING EXPIRED, WITHOUT OBJECTION, THE PREVIOUS QUESTION IS ORDERED ON THE MOTION TO RECOMMIT. THE QUESTION IS ON THE MOTION. ALL THOSE IN FAVOR SAY AYE. ALL THOSE OPPOSED, NO. THE NOES HAVE IT. THE MOTION IS NOT AGREED TO. THE GENTLEMAN FROM MASSACHUSETTS.

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                  • 04:30:31 PM

                    MR. CAPUANO

                    ON THAT I REQUEST A ROLL CALL VOTE.

                  • 04:30:33 PM

                    THE SPEAKER PRO TEMPORE

                    THE GENTLEMAN REQUEST THE YEAS AND NAYS? THE YEAS AND NAYS ARE REQUESTED.…

                    THE GENTLEMAN REQUEST THE YEAS AND NAYS? 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. PURSUANT TO CLAUSE 8 OF RULE 20 , THIS 15-MINUTE VOTE ON THE MOTION TO RECOMMIT WILL BE FOLLOWED BY FIVE-MINUTE VOTES ON PASSAGE OF THE BILL, IF ORDERED, AND PASSAGE OF H.R. 3299. 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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                  • 04:31:03 PM

                    The previous question on the motion to recommit with instructions was ordered without objection.

                    • 04:31:11 PM

                      On motion to recommit with instructions Roll Call 76 - Yea and Nay vote pending.

                      • 04:57:06 PM

                        THE SPEAKER PRO TEMPORE

                        ON THIS VOTE THE YEAS ARE 189. THE NAYS ARE 228. THE MOTION IS NOT…

                        ON THIS VOTE THE YEAS ARE 189. THE NAYS ARE 228. THE MOTION IS NOT ADOPTED. THE QUESTION IS ON PASSAGE OF THE BILL. THOSE IN FAVOR WILL SAY AYE. THOSE OPPOSED SAY NO. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT. THE GENTLELADY FROM CALIFORNIA. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                  • 04:57:17 PM

                    House Vote 76 - On Motion to Recommit with Instructions

                    TRID Improvement Act of 2017

                    Failed (189 - 228)
                    Yea
                    Nay

                    Vote Details: Yea - 189
                    Democratic - 187
                    Republican - 2

                    Vote Details: Nay - 228
                    Republican - 228

                    Vote Details: Not Voting - 13
                    Democratic - 6
                    Republican - 7

                    • 04:57:22 PM

                      On passage Roll Call 77 - Yea and Nay vote pending.

                      • 04:57:28 PM

                        MS. WATERS

                        I CALL THE YEAS AND NAYS.

                      • 04:57:30 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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                      • 05:05:00 PM

                        THE SPEAKER PRO TEMPORE

                        ON THIS VOTE, THE YEAS ARE 271, THE NAYS ARE 145. THE BILL IS PASSED.…

                        ON THIS VOTE, THE YEAS ARE 271, THE NAYS ARE 145. THE BILL IS PASSED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. THE UNFINISHED BUSINESS IS THE VOTE ON PASSAGE OF H.R. 3299 ON WHICH THE YEAS AND NAYS ARE ORDERED. THE CLERK WILL REPORT THE TITLE OF THE BILL.

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                  • 05:05:08 PM

                    House Vote 77 - On Passage

                    TRID Improvement Act of 2017

                    Passed (271 - 145)
                    Yea
                    Nay

                    Vote Details: Yea - 271
                    Republican - 228
                    Democratic - 43

                    Vote Details: Nay - 145
                    Democratic - 144
                    Republican - 1

                    Vote Details: Not Voting - 14
                    Democratic - 6
                    Republican - 8

                    • 05:05:10 PM

                      Motion to reconsider laid on the table Agreed to without objection.

                    • 05:05:12 PM

                      UNFINISHED BUSINESS

                      The Chair announced that the unfinished business was on passage of H.R. 3299, which had been debated earlier and on which further proceedings had been postponed.

                      • 05:05:20 PM

                        THE CLERK

                        H.R. 3299, A BILL TO AMEND THE REVISED STAUT OF HIGH PRESSURE SYSTEM…

                        H.R. 3299, A BILL TO AMEND THE REVISED STAUT OF HIGH PRESSURE SYSTEM OWNERS ACT AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOANS AND FOR OTHER PURPOSES.

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                      • 05:05:39 PM

                        THE SPEAKER PRO TEMPORE

                        THE QUESTION IS ON PASSAGE OF THE BILL. MEMBERS WILL RECORD THEIR VOTES BY…

                        THE QUESTION IS ON PASSAGE OF THE BILL. 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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                      • 05:05:44 PM

                        Considered as unfinished business. H.R. 3299 — "To amend the Revised Statutes, the Home Owners' Loan Act, the Federal Credit Union Act, and the Federal Deposit Insurance Act to require the rate of interest on certain loans remain unchanged after transfer of the loan, and for other purposes."

                        • 05:05:45 PM

                          On passage Roll Call 78 - Yea and Nay vote pending.

                          • 05:13:31 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE, THE YEAS ARE 245 AND THE NAYS ARE 171. THE BILL IS PASSED.…

                            ON THIS VOTE, THE YEAS ARE 245 AND THE NAYS ARE 171. THE BILL IS PASSED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM PENNSYLVANIA SEEK RECOGNITION?

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                      • 05:13:39 PM

                        House Vote 78 - On Passage

                        Protecting Consumers' Access to Credit Act of 2017

                        Passed (245 - 171)
                        Yea
                        Nay

                        Vote Details: Yea - 245
                        Republican - 229
                        Democratic - 16

                        Vote Details: Nay - 171
                        Democratic - 170
                        Republican - 1

                        Vote Details: Not Voting - 14
                        Democratic - 7
                        Republican - 7

                        • 05:13:41 PM

                          Motion to reconsider laid on the table Agreed to without objection.

                          • 05:13:47 PM

                            >>

                            I ASK UNANIMOUS CONSENT TO -- THE SPEAKER PRO TEMPORE:

                        • 05:13:53 PM

                          Mr. Fitzpatrick asked unanimous consent that when the House adjourns today, it adjourn to meet at 9:00 a.m. on February 15. Agreed to without objection.

                          • 05:13:55 PM

                            TEMPORE THE

                          • 05:14:01 PM

                            >>

                            I ASK TO MAKE A UNANIMOUS CONSENT REQUEST. I ASK UNANIMOUS CONSENT THAT MY…

                            I ASK TO MAKE A UNANIMOUS CONSENT REQUEST. I ASK UNANIMOUS CONSENT THAT MY NAME BE ADDED AS CO-SPONSOR TO THE BILL H.R. 676.

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                          • 05:14:16 PM

                            THE SPEAKER PRO TEMPORE

                            WITHOUT OBJECTION. SO ORDERED. THE HOUSE WILL BE IN ORDER. THE CHAIR WILL…

                            WITHOUT OBJECTION. SO ORDERED. THE HOUSE WILL BE IN ORDER. THE CHAIR WILL NOW ENTERTAIN REQUESTS FOR ONE-MINUTE SPEECHES. THE GENTLEMAN FROM MINNESOTA, FOR WHAT PURPOSE?

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                      • 05:14:42 PM

                        ONE MINUTE SPEECHES

                        The House proceeded with further one minute speeches.

                        • 05:14:49 PM

                          >>

                          PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE.

                        • 05:14:55 PM

                          >>

                          MR. SPEAKER, THE HOUSE IS NOT IN ORDER.

                        • 05:14:59 PM

                          THE SPEAKER PRO TEMPORE

                          THE HOUSE WILL BE IN ORDER. WILL ALL MEMBERS REMOVE THEIR CONVERSATIONS.…

                          THE HOUSE WILL BE IN ORDER. WILL ALL MEMBERS REMOVE THEIR CONVERSATIONS. THE HOUSE WILL BE IN ORDER. .

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                        • 05:15:37 PM

                          THE SPEAKER PRO TEMPORE

                          IF ALL MEMBERS WILL PLEASE REMOVE THEIR CONVERSATIONS. THE GENTLEMAN IS…

                          IF ALL MEMBERS WILL PLEASE REMOVE THEIR CONVERSATIONS. THE GENTLEMAN IS RECOGNIZED.

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                        • 05:15:54 PM

                          >>

                          MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE SERVICE OF CARVER COUNTY…

                          MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE SERVICE OF CARVER COUNTY SHERIFF GYM OLSON WHO RECENTLY ANNOUNCED HIS RETIREMENT. HE BEGAN HIS LAW ENFORCEMENT CAREER 31 YEARS AGO.

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                        • 05:16:06 PM

                          MR. PAULSEN

                          HE WAS ELECTED TO HIS FIRST FOUR-YEAR TERM IN 2010 AND RE-ELECTED IN 2014.…

                          HE WAS ELECTED TO HIS FIRST FOUR-YEAR TERM IN 2010 AND RE-ELECTED IN 2014. OLSON HAS LED LAW ENFORCEMENT OPERATIONS DURING A TIME WHEN CARVER COUNTY SURPASSED A POPULATION OF OVER 100,000 PEOPLE, MAKING TO ONE OF THE FASTEST GROWING COUNTIES IN MINNESOTA. HE OVERSAW MAJOR PUBLIC SAFETY OPERATIONS DURING THE AFTERMATH OF PRINCE'S DEATH AS WELL AS THE RYDER CUP IN 2016. HE'S WELL RESPECTED IN OUR COMMUNITY AND IS INVOLVED IN COMMUNITY OUTREACH, RAISING PUBLIC AWARENESS OF MENTAL HEALTH RESOURCES, EDUCATING THE PUBLIC ABOUT THE ROLE OF THE SHERIFF'S OFFICE AND SUPPORTING THE HOPE HOUSE, A YOUTH HOMELESS SHELTER. I WANT TO THANK SHERIFF OLSON FOR HIS MANY YEARS OF SERVICE AND DEDICATION, FOR KEEPING THE RESIDENTS OF CARVER COUNTY SAFE. WE WISH HIM THE BEST OF LUCK IN HIS FUTURE, AND HE WILL BE MISSED. I YIELD BACK.

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                        • 05:17:02 PM

                          THE SPEAKER PRO TEMPORE

                          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEW JERSEY SEEK RECOGNIZE YIGS?…

                          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEW JERSEY SEEK RECOGNIZE YIGS? -- RECOGNITION?

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                        • 05:17:07 PM

                          >>

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

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

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                        • 05:17:11 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION. THE HOUSE WILL BE IN ORDER. MEMBERS, PLEASE REMOVE…

                          WITHOUT OBJECTION. THE HOUSE WILL BE IN ORDER. MEMBERS, PLEASE REMOVE THEIR CONVERSATIONS. THE GENTLEMAN IS RECOGNIZED.

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                        • 05:17:18 PM

                          MR. PAYNE

                          MR. SPEAKER, I RISE TODAY TO HONOR AMERICA'S HEALTH AND WELLNESS COACHES.…

                          MR. SPEAKER, I RISE TODAY TO HONOR AMERICA'S HEALTH AND WELLNESS COACHES. HEALTH AND WELLNESS COACHES HELP PEOPLE CHANGE THEIR UNHEALTHY LIFESTYLES AND MANAGE CHRONIC ILLNESSES. MR. SPEAKER, I AM A DIABETIC. I ALSO SUFFER FROM MACULAR DEGENERATION AND HEART DISEASE. I KNOW FIRSTHAND HOW DIFFICULT IT IS FOR PEOPLE TO CHANGE THEIR BEHAVIORS AND MAKE HEALTHIER LIFE CHOICES. BUT I ALSO KNOW THAT CHANGE IN BEHAVIOR CAN IMPROVE OVERALL HEALTH AND REDUCE THE AMOUNT OF COSTLY MEDICAL CARE PEOPLE NEED. THE AMERICAN MEDICAL ASSOCIATION RECENTLY FOUND THAT HAVING A HEALTH AND WELLNESS COACH INVOLVED IN A PERSON'S WELLNESS JOURNEY NOT ONLY INCREASES PATIENT SATISFACTION AND ENGAGEMENT BUT ALSO REDUCES PHYSICIAN STRESS AND BURNOUT BY FREEING UP THEIR TIME. LAST WEEK I INTRODUCED HOUSE RESOLUTION 733, TO EXPRESS SUPPORT FOR HEALTH AND WELLNESS COACHES AND TO DESIGNATE THIS WEEK AS NATIONAL HEALTH AND WELLNESS COACH RECOGNITION WEEK. MR. SPEAKER, I ASK MY COLLEAGUES TO JOIN ME IN CELEBRATING OUR NATION'S HEALTH AND WELLNESS COACHES. AND WITH THAT I YIELD BACK.

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                        • 05:18:39 PM

                          THE SPEAKER PRO TEMPORE

                          THE HOUSE WILL BE IN ORDER. IF MEMBERS WOULD PLEASE REMOVE THEIR…

                          THE HOUSE WILL BE IN ORDER. IF MEMBERS WOULD PLEASE REMOVE THEIR CONVERSATIONS. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM INDIANA SEEK RECOGNITION?

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                        • 05:18:52 PM

                          >>

                          THANK YOU, MR. SPEAKER. I SEEK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR…

                          THANK YOU, MR. SPEAKER. I SEEK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

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                        • 05:18:58 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 05:19:10 PM

                          MR. MESSER

                          DAVID HAS SERVED AS THE SENATE -- INDIANA SENATE FOR 22 YEARS AND…

                          DAVID HAS SERVED AS THE SENATE -- INDIANA SENATE FOR 22 YEARS AND PRESIDENT PRO TEMPORE FOR THE LAST 12. DAVID IS A REMARKABLE LEADER WHO'S BEEN CENTRAL TO EVERY MAJOR POLICY ACHIEVEMENT IN INDIANA AT A STATE LEVEL OVER THE PAST DECADE. HE LED THE CHARGE ON CUTTING TAXES, PASSING RIGHT TO WORK, ENACTING MAJOR MOVES, CREATING ONE OF THE BIGGEST AND BEST SCHOOL CHOICE PROGRAMS IN THE COUNTRY, AND PERMANENTLY CAPPING PROPERTY TAXES. ON A PERSONAL NOTE, DAVID LONG IS MY MENTOR. WE'RE BOTH GRADUATES OF WAUBASH COLLEGE, AND WE BOTH OVERACHIEVED IN MARRIAGE. I WILL ALWAYS BE GRATEFUL FOR HIS FRIENDSHIP, ADVICE AND COUNSEL, AND I THANK DAVID FOR HIS YEARS OF SERVICE. THANK YOU, MR. SPEAKER. I YIELD BACK.

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                        • 05:19:57 PM

                          THE SPEAKER PRO TEMPORE

                          FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM OHIO SEEK RECOGNITION?

                        • 05:20:01 PM

                          MS. KAPTUR

                        • 05:20:07 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 05:20:10 PM

                          MS. KAPTUR

                          MR. SPEAKER, OUR LAW ENFORCEMENT AND INTELLIGENCE COMMUNITY MOST POINTEDLY…

                          MR. SPEAKER, OUR LAW ENFORCEMENT AND INTELLIGENCE COMMUNITY MOST POINTEDLY THE FEDERAL BUREAU OF INVESTIGATION IS SUSTAINING AN UNPRECEDENTED COORDINATED ATTACK. LIKE A CANCER, THE STRIKES ARE COMING FROM DEEP IN THE MARROW OF OUR DEMOCRATIC REPUBLIC. OUR OWN PRESIDENT AND EVEN SOME MEMBERS OF CONGRESS BLOCK THE LIGHT OF JUSTICE. IN HIS STATE OF THE UNION ADDRESS, PRESIDENT TRUMP BRAGGED ABOUT THE APPREHENSION OF VIOLENT CRIMINALS AND GANG MEMBERS. THE HYPOCRISY OF THIS PRESIDENT TAKING CREDIT FOR THE DANGEROUS WORK OF OUR F.B.I. AND LARGER INTELLIGENCE COMMUNITY WHILE SYSTEMATICALLY AND DOGGEDLY WORKING TO UNDERMINE PUBLIC FAITH IN THESE INSTITUTIONS IS AN OUTRAGE. UNDER SPECIAL COUNSEL MUELLER'S DIRECTION IN 2012, THE F.B.I. MADE 25,000 ARRESTS, AND 14,800 INDICTMENTS. THEY LOCATED 1,100 MISSING CHILDREN AND SEIZED 1.25 BILLION DOLLARS WORTH OF CRIMINAL ASSETS AND DRUGS. THE HISTORIC ROLE OF THE F.B.I. IN BRINGING MAJOR CRIMINALS AND FOREIGN AND DOMESTIC ENEMIES OF OUR STATE TO JUSTICE CANNOT BE OVERSTATED. THE F.B.I. HAS DEFENDED US IN WAYS AND MEASURES WELL BEYOND GENERAL PUBLIC AWARENESS. NOT OUT OF PATRIOTISM AND COMMITMENT TO OUR DEMOCRACY AND ITS INSTITUTIONS, THEN OUT OF SHEER NECESSITY, CONGRESS AND THE AMERICAN PEOPLE MUST DEFEND THE RULE OF LAW. I YIELD BACK.

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                        • 05:21:39 PM

                          TEMPORE MEMBERS

                          MEMBERS ARE REMINDED TOWARD -- TO REFRAIN FROM ENGAGING IN PERSONALITIES…

                          MEMBERS ARE REMINDED TOWARD -- TO REFRAIN FROM ENGAGING IN PERSONALITIES TOWARD THE PRESIDENT. FOR WHAT PURPOSE DOES THE GENTLEMAN RISE?

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                        • 05:21:51 PM

                          >>

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

                        • 05:21:55 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 05:22:18 PM

                          MR. YODER

                          RIGHT NOW THE PER COUNTRY CAPS ON GREEN CARDS FOR HIGHLY SKILLED H 1-B…

                          RIGHT NOW THE PER COUNTRY CAPS ON GREEN CARDS FOR HIGHLY SKILLED H 1-B IMMIGRANTS, THE CAPS CREATED A HUGE BACKLOG OF INDIAN APPLICANTS WHO WILL HAVE TO WAIT DECADES, AS MUCH AS 70 YEARS TO ACHIEVE THEIR DREAM OF CITIZENSHIP. THIS MUST BE REPLACED BY A MERIT-BASED SYSTEM THAT TREATS EVERYONE FAIRLY. MY BILL WOULD DO JUST THAT. I URGE MY COLLEAGUES TO NOT LET OUR COMPASSION END WITH DACA RECIPIENTS. LET'S ALSO USE THIS OPPORTUNITY TO PROMOTE FAIRNESS FOR HIGH-SKILLED IMMIGRANTS AS WELL. I YIELD BACK.

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                        • 05:22:57 PM

                          THE SPEAKER PRO TEMPORE

                          IF MEMBERS AND GROUPS OF MEMBERS WOULD PLEASE REMOVE THEIR CONVERSATIONS…

                          IF MEMBERS AND GROUPS OF MEMBERS WOULD PLEASE REMOVE THEIR CONVERSATIONS FROM THE FLOOR. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM TEXAS SEEK RECOGNITION?

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                        • 05:23:07 PM

                          MS. JACKSON LEE

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

                        • 05:23:11 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 05:23:19 PM

                          MS. JACKSON LEE

                          MR. SPEAKER, AS WE HE ADDRESS WOMEN'S HISTORY MONTH IN THE MONTH OF MARCH,…

                          MR. SPEAKER, AS WE HE ADDRESS WOMEN'S HISTORY MONTH IN THE MONTH OF MARCH, I RAISE THE ATTENTION OF MY COLLEAGUES TO A SET OF CIRCUMSTANCES THAT WE HAVE SEEN RELATING TO THE ADMINISTRATION AND ITS PERSONNEL POLICIES. BUT THE REAL ISSUE IS THE AFFIRMATION OF THE OPPOSITION TO DOMESTIC VIOLENCE AND ABUSE. THOUSANDS OF WOMEN AND SOME MEN LOSE THEIR LIVES TO DOMESTIC ABUSE AND DOMESTIC VIOLENCE. THOUSANDS LIVE IN SILENCE AND ABSOLUTE FEAR. CHILDREN SEE THEIR MOTHERS KILLED AND SOME MEN. AND TO HAVE THE KIND OF INSENSITIVITY TO THE IMPORTANCE OF ANYONE WHO HAS ENGAGED IN DOMESTIC VIOLENCE AND DOMESTIC ABUSE TO BE IGNORED SENDS A WRONG SIGNAL TO THE GIRLS AND YOUNG WOMEN IN THIS COUNTRY. WE MUST JOIN TOGETHER IN A BIPARTISAN MANNER TO ENSURE THAT THE VIOLENCE AGAINST WOMEN ACT IS RE-AUTHORIZED IN MARCH, AND WE MUST PRONOUNCE THAT DOMESTIC VIOLENCE AND DOMESTIC ABUSE IS WRONG AND THAT IT IS WRONG FOR MEN, FOR WOMEN, FOR FAMILIES AND IT IS SOMETHING THAT SHOULD BE CONDEMNED AND NOT CONDONED AND NO MATTER HOW IMPORTANT A POSITION YOU MAY HOLD, IT IS IMPORTANT FOR AMERICA'S LEADERSHIP TO DENOUNCE THIS KIND OF VICIOUS ATTACK ON FAMILIES. WITH THAT I LOOK FORWARD TO BIPARTISANSHIP AND I YIELD BACK.

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                        • 05:24:46 PM

                          THE SPEAKER PRO TEMPORE

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

                        • 05:24:51 PM

                          >>

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

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

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                        • 05:24:55 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 05:24:56 PM

                          >>

                          MR. SPEAKER, I RISE TODAY TO RECOGNIZE A WORLD-CLASS ATHLETE AND OLYMPIAN…

                          MR. SPEAKER, I RISE TODAY TO RECOGNIZE A WORLD-CLASS ATHLETE AND OLYMPIAN HAILING FROM THE 22ND CONGRESSIONAL DISTRICT.

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                        • 05:25:05 PM

                          MS. TENY

                          TWO-TIME WORLD CHAMPION, ERIN CARRIED THE TEAM U.S.A. FLAG DURING THE 2018…

                          TWO-TIME WORLD CHAMPION, ERIN CARRIED THE TEAM U.S.A. FLAG DURING THE 2018 OPENING CEREMONY IN PYEONGCHANG, SOUTH KOREA, LAST FRIDAY. ERIN WAS SELECTED FROM OVER EIGHT OTHER ATHLETES TO ENTER HER LAST OLYMPIC GAMES AS THE FLAG BEARER. ERIN MADE HISTORY IN 2014 AS THE FIRST U.S. ATHLETE TO WIN A SINGLES LUGE MEDAL AFTER TAKING BRONZE AFTER THE SOCHI GAMES. SHE WAS THE FIRST WOMAN FLAG BEARER SINCE 2010. ERIN LED 244 ATHLETES, THE LARGEST TEAM EVER FROM THE UNITED STATES. YESTERDAY, SHE COMPETED IN THE LAST OF HER OUTSTANDING -- LAST OLYMPICS OF HER OUTSTANDING CAREER. ERIN WILL BE REMEMBERED AS SOMEONE WHO SHARED -- SHATTERED BARRIERS FOR BOTH MEN AND WOMEN IN THE SPORT OF LUGE. I WANT TO THANK ONEIDA COUNTY ERIN HAMLIN OR THIS INCREDIBLE ACHIEVEMENT -- ON THESE INCREDIBLE ACHIEVEMENTS. I YIELD BACK.

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                        • 05:26:08 PM

                          THE SPEAKER PRO TEMPORE

                          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM ILLINOIS SEEK RECOGNITION?

                        • 05:26:11 PM

                          >>

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

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

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                        • 05:26:15 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 05:26:34 PM

                          MR. LIPINSKI

                          THIS IS A TERRIBLE TRAGEDY FOR THE CHICAGO POLICE DEPARTMENT AND MOST OF…

                          THIS IS A TERRIBLE TRAGEDY FOR THE CHICAGO POLICE DEPARTMENT AND MOST OF ALL FOR PAUL'S WIFE AND YOUNG DAUGHTER. PAUL GRADUATED TWO YEARS AHEAD OF ME AT SAINT AGNUS AND JOINED THE POLICE DEPARTMENT SOON AFTER. HE ROSE THROUGH THE RANKS OVER 22 YEARS AND LATER BECAME COMMANDER OF THE NORTH DISTRICT. A MEMBER OF NATIVITY PARISH IN BRIDGEPORT, PAUL IS BEING REMEMBERED AS A LOVING FATHER AND HUSBAND. SOMEONE WHO KNEW THE VALUE OF COMMUNITY POLICING AND GIVING BACK. AND FOR LEADING EFFORTS TO RAISE FUNDS FOR CHICAGO POLICE MEMORIAL FUND. MR. SPEAKER, I ASK MY COLLEAGUES TO JOIN ME IN MOURNING THE PASSING OF COMMANDER PAUL BAUER. PLEASE PRAY FOR HIM AND FOR HIS FAMILY AND FOR OUR CITY, AND PLEASE REMEMBER TO TAKE A MOMENT TO THANK THE POLICE AND OTHER FIRST RESPONDERS THAT YOU ENCOUNTER EVERY DAY. WE OWE THEM SO MUCH. I YIELD BACK.

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                        • 05:27:47 PM

                          THE SPEAKER PRO TEMPORE

                          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION?

                        • 05:27:51 PM

                          >>

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

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

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                        • 05:27:58 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 05:28:01 PM

                          MR. LAMALFA

                          MR. SPEAKER, I RISE TODAY TO COMMEND THE HEALTH AND HUMAN SERVICES NEW…

                          MR. SPEAKER, I RISE TODAY TO COMMEND THE HEALTH AND HUMAN SERVICES NEW RELIGIOUS FREEDOM DIVISION WITHIN THE OFFICE OF CIVIL RIGHTS. RECENTLY THEY ANNOUNCED A PROPOSED RULE TO PROTECT WORKERS FROM BEING COERCED INTO PRACTICING ACTIVITIES THAT VIOLATES THEIR CONSCIENCE, INCLUDING ABORTION, STERILIZATION, ASSISTED SUICIDE AND MORE. UNDER THE PREVIOUS ADMINISTRATION, DOCTORS AND NURSES WERE NOT PROTECTED FROM BEING FORCED TO PARTICIPATE IN PROCEDURES THAT MAY VIOLATE THEIR RELIGIOUS BELIEFS OR MORAL CONVICTIONS. THIS IS CLEARLY WRONG. THOSE THAT ARE DISCRIMINATED AGAINST FOR RELIGIOUS BELIEFS SHOULD BE AFFORDED THE SAME PROTECTIONS AS THOSE FACING ANY OTHER TYPES OF DISCRIMINATION. O.C.R. HAS OPENED A 60-DAY PUBLIC COMMENT PERIOD ON THE RULE AND I ENCOURAGE EVERYONE ACROSS THE COUNTRY TO PARTICIPATE IN THAT COMMENT PERIOD. I THANK THE DIVISION ONCE AGAIN FOR TAKING THIS IMPORTANT ACTION TO PROTECT RELIGIOUS LIBERTY IN OUR HEALTH CARE SYSTEM. I YIELD BACK.

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                        • 05:28:58 PM

                          THE SPEAKER PRO TEMPORE

                          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEVADA SEEK RECOGNITION? WITHOUT…

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

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                        • 05:29:17 PM

                          >>

                          THANK YOU, MR. SPEAKER. TODAY I RISE TO REMEMBER THE LIFE OF AUSTIN DAVIS…

                          THANK YOU, MR. SPEAKER. TODAY I RISE TO REMEMBER THE LIFE OF AUSTIN DAVIS WHO VISITED LAS VEGAS TO ATTEND HE THE ROUTE 51 CONCERT ON OCTOBER 1. AUSTIN WAS AN ONLY CHILD WHO HE WAS -- HE WAS VERY CLOSE TO HIS PARENTS.

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                        • 05:29:36 PM

                          MR. KIHUER

                          HE LIVED IN RIVERSIDE, CALIFORNIA, AND WORKED AS A PIPE FITTER. IN HIS…

                          HE LIVED IN RIVERSIDE, CALIFORNIA, AND WORKED AS A PIPE FITTER. IN HIS FREE TIME HE LOVED TO PLAY SOFTBALL. ALL WHO KNEW AUSTIN KNEW HIM FOR HIS CONTAGIOUS SMILE AND HARDWORKING AND CARING NATURE.

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                        • 05:29:53 PM

                          MR. KIHUEN

                          PLEASE KNOW THE CITY OF LAS VEGAS, STATE OF NEVADA, AND THE WHOLE COUNTRY…

                          PLEASE KNOW THE CITY OF LAS VEGAS, STATE OF NEVADA, AND THE WHOLE COUNTRY GRIEVE WITH YOU. MR. SPEAKER, I YIELD THE REMAINING BALANCE OF MY TIME.

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                        • 05:30:05 PM

                          THE SPEAKER PRO TEMPORE

                          FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

                        • 05:30:09 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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                        • 05:30:15 PM

                          MR. BURGESS

                          I RISE TO HONOR SAM JOHNSON. THIS WEEK MARKS 45 YEARS SINCE HE RETURNED TO…

                          I RISE TO HONOR SAM JOHNSON. THIS WEEK MARKS 45 YEARS SINCE HE RETURNED TO FREEDOM AFTER ENDURING NEARLY SEVEN YEARS AS A PRISONER OF WAR IN THAT KNOW, VIETNAM. EACH FEBRUARY, WE ARE REMINDED OF HIS LEADERSHIP THAT WILL SAM JOHNS ONG DISPLAYED DURING HIS TIME AS A PRISONER OF WAR. WE ARE REMINDED OF THE PERSISTENCE OF SAM'S FAMILY AND THE JOY AND JOY OF OUR NORTH TEXAS COMMUNITY WHEN SAM RETURNED HOME TO TEXAS IN 1973. SAM JOHNSON HAS SERVED OUR COUNTRY SELFLESSLY IN HIS AIR FORCE CAREER AND HERE IN THE HOUSE OF REPRESENTATIVES SINCE HE WAS ELECTED TO THE HOUSE IN 1991. HE HAS BEEN AN ADVOCATE FOR OUR ARMED FORCES, OUR VETERANS AND AMERICA FREEDOM. 15 YEARS AGO, I GAVE MY FLOOR SPEECH MARKING 30 YEARS SINCE MR. JOHNSON RETURNED HOME. IT IS A PRIVILEGE TO HONOR MY FRIEND AND MENTOR ON HIS 45TH RETURN ANNIVERSARY. SAM JOHNSON, WELCOME HOME.

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                        • 05:31:25 PM

                          THE SPEAKER PRO TEMPORE

                          ARE THERE ANY ADDITIONAL REQUESTS FOR ONE-MINUTE SPEECHES? THE CHAIR LAYS…

                          ARE THERE ANY ADDITIONAL REQUESTS FOR ONE-MINUTE SPEECHES? THE CHAIR LAYS BEFORE THE HOUSE THE FOLLOWING PERSONAL REQUESTS.

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                        • 05:31:36 PM

                          THE CLERK

                          LEAVES OF ABSENCE FOR MR. LOBIONDO AND FOR TOMORROW AND MISWATSON COLEMAN…

                          LEAVES OF ABSENCE FOR MR. LOBIONDO AND FOR TOMORROW AND MISWATSON COLEMAN OF NEW JERSEY FOR TODAY.

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                        • 05:31:47 PM

                          THE SPEAKER PRO TEMPORE

                          WITHOUT OBJECTION. THE REQUESTS ARE GRANTED. UNDER THE SPEAKER'S ANNOUNCED…

                          WITHOUT OBJECTION. THE REQUESTS ARE GRANTED. UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 3, 2017, THE GENTLEMAN FROM FLORIDA, MR. RUTHERFORD IS RECOGNIZED AS THE DESIGNEE OF THE MAJORITY LEADER.

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                      • 05:31:50 PM

                        SPECIAL ORDER SPEECHES

                        The House has concluded all anticipated legislative business and has proceeded to Special Order speeches.

                        • 05:32:17 PM

                          MR. RUTHERFORD

                          I RECOGNIZE WILLIAM WILLIAM JOHN TONCHINGA TO RECOGNIZE HIS BIRTHDAY. BORN…

                          I RECOGNIZE WILLIAM WILLIAM JOHN TONCHINGA TO RECOGNIZE HIS BIRTHDAY. BORN IN DOVER, NEW JERSEY, WILLIAM SPENT HIS YEARS IN NEW JERSEY DEVELOPING A LOVE OF MUSIC. THIS RESULTED IN HIM BECOMING A MUSIC TEACHER UNTIL HE WAS DRAFTED IN THE UNITED STATES ARMY ON JULY 11, 1941. HE LEFT A SUCCESSFUL JOB TEACHING IN NEW JERSEY TO DEFEND OUR GREAT NATION. AND AFTER COMPLETING HIS RADIO OPERATIONS TRAINING AS FORT DIX AND FORT BRAGG AND HE WAS SERVED AS A TECHNICAL SERGEANT LEADING A GROUP OF EIGHT MEN WHO WERE TRAINED AS RADIO OPERATORS. HIS TEAM WAS RESPONSIBLE FOR CODE RECEIVING AND TRANSMITTING FROM THE FIELD AS WELL AS IN COMMAND VEHICLES. THIS GROUP WAS PART OF THE FIRST AMERICAN ARMY PERSONNEL TO BE SENT IN THE EUROPEAN THEATER OF OPERATIONS. AFTER 22 MONTHS IN ICELAND, HE WAS SENT TO ENGLAND TO BE PART OF THE INVASION FORCE ON D-DAY AND DROPPED ON THE UTAH BEACH ON JUNE 6, 1944 AND BRAVELY FOUGHT THROUGH THE ENTIRE CAMPAIGN OF EUROPE INCLUDING THE BOTTOM BARREDMENT. HE AND HIS FELLOW SOLDIERS LATER SERVED AT THE BATTLE OF THE BULGE AND COUNTING HIS MEMORABLE TIMES IN THE ARMY, MR. TORCHING AVE WILL TALK ABOUT HIS TIME IN EUROPE AFTER D-DAY AND TOLD ME WHERE HE WITNESSED AMERICAN FIGHTER PILOTS AND TIME SERVED IN JOINT FORCE WITH THE RUSSIANS AT THE RIVER ELB. HE WAS DISCHARGED AFTER 3 1/2 YEARS ON JUNE 22, 1945. AFTER HIS YEARS OF SERVICE, MR. TONCHINGA WENT BACK TO HIS PASSION OF TEACHING MUSIC. HE STARTED INSTRUMENTAL MUSIC PROGRAM IN THE RICHFIELD SCHOOL SYSTEM OF NEW JERSEY. AND DURING THOSE YEARS OF MUSIC EDUCATION, MR. TONCHINGAVE OBTAINED HIS MASTERS' DEGREE IN N.Y.U. AND WHILE HE WAS AT N.Y.U., YOU PLEAD VIAL LYNN IN THE ORCHESTRA AND AT 100 YEARS OLD, HIS TALENTS ARE IMPRESSIVE. AT HIS RECENT BIRTHDAY CELEBRATION, HE PLAYED THE COLLAR NET, VIAL LYNN AND PIANO AND SANG FOR HIS FAMILY AND FRIENDS. I SALUTE HIM ON HIS YEARS OF FAITHFUL SERVICE TO OUR COUNTRY AND THE PUBLIC SCHOOL SYSTEM. HE EXEMPLIFIED QUALITIES OF A TRUE AMERICAN HERO AND I ADMIRE HIS SERVICE AND SACRIFICE. MR. SPEAKER, TODAY, I RISE TO CONGRATULATE THE HARDWORKING MEN AND WOMEN OF THE JEWISH COMMUNITY ALLIANCE ON THE CELEBRATION OF THEIR 30TH ANNIVERSARY OF ENRICHING THE LIVES OF THOSE WITH A VARIETY OF NEEDS. THE J.C.A. IS A PILLAR IN OUR JOHN KERRY SONVILLE COMMUNITY. THE JEWISH COMMUNITY ALLIANCE IS A NONPROFIT COMMUNITY CENTER AFFILIATED WITH THE JACKSONVILLE JEWISH FEDERATION, THE UNITED WAY OF NORTHEAST FLORIDA AND THE JEWISH COMMUNITY CENTERS OF NORTH AMERICA. ITS FOCUS IS TO ENHANCE THE LIFE OF RELIGIONS, RACES, FINANCIAL MEANS AND PHYSICAL AND MENTAL ABILITIES. TO THIS END, THE J.C.A. HAS IMPACTED TENS OF THOUSANDS OF SENT SENSE IN OUR COMMUNITY. SITUATED ON THE CAMPUS, J.C.A. WELCOMES PRE-SCHOOL-AGED CHILDREN TO GET A GOOD START IN LIFE AND EMBRACES TEENS AND YOUTH ON A VARIETY OF SUBJECTS. THE J.C.A. IS A SPIRIT OF INTERGENERATIONAL SHARING OF VALUES AND IDEAS. THE AFTER-SCHOOL AND SCHOOL-CLOSED DAY PROGRAMS GIVE PEACE OF MIND TO WORKING PARENTS BOTH MARRIED AND SINGLE. SENIORS AND ADULTS WITH SPECIAL NEEDS ARE OFFERED OPPORTUNITIES TO REACH THEIR POTENTIAL WITH DIGNITY AND TRADITION. THE J.C.A. FACILITY OFFERS SWIMMING, THEATER AND CAMP PROGRAMS AND FITNESS AND ART AND ACADEMIC CLASSES TO ALL MEMBERS AND WELCOMES ALL FOR MEMBERSHIP. J.C.A. OFFERS AN ARRAY OF CREATIVE CLASSES, PROGRAMS AND EVENTS TO INSPIRE AND BENEFIT ITS PARTICIPANTS. I ASK YOU AND MEMBERS OF THE HOUSE TO JOIN ME IN ACKNOWLEDGING THE 30TH ANNIVERSARY OF THE JEWISH COMMUNITY ALLIANCE AND ITS COMMITMENT TO OUR COMMUNITY. AND MR. SPEAKER, I YIELD BACK.

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                        • 05:38:14 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 3, 2017, THE GENTLEMAN FROM NEBRASKA, MR. FORTENBERRY IS RECOGNIZED AS THE DESIGNEE FOR THE REMAINDER.

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                        • 05:38:32 PM

                          MR. FORTENBERRY

                          THERE WAS A TELEVISION COMMERCIAL THAT PLAYED QUITE FREQUENTLY AND MAY…

                          THERE WAS A TELEVISION COMMERCIAL THAT PLAYED QUITE FREQUENTLY AND MAY STILL BE ON, BUT IT SHOWS A SHELTER FOR THE POOR AND HOMELESS AROUND CHRISTMASTIME AND MEN AND WOMEN ARE GATHERING UNDER BRIGHT LIGHTS AND THEY ARE CLEARLY BENEFITING FROM THE HOLIDAY OUTPOURING OF CHARITY AND COMPASSION AND FELLOWSHIP. BUT THEN THE COMMERCIAL SHIFTS AND THE ENVIRONMENT CHANGES. IT'S A DREARY DOWNTRODDEN AFFAIR AT THIS POINT. THE NEW YEAR HAS BEGUN AND THE SHELTER IS LESS FULL AND FORMER AMBIENT LIGHT AND LAUGHTERVILLE DIMMED INTO SOMBER TONES. WHILE ALL THE WHILE, A MAN IS SITTING AT THE PIANO IN THIS EMPTYYING PLACE SINGING "DON'T YOU FORGET ABOUT ME." YOU SEE -- THE SCENE CONCLUDES THE SEASON ENDS BUT THE NEED RE MAINS. AS OUR ECONOMY BEGINS TO RECHARGE GIVING MORE AND MORE HOPE, WITH MORE AND MORE AMERICANS IMAGINING JOBS, IT IS IMPORTANT, THOUGH, TO CONTINUE TO REFLECT ON THIS STILL EARLY STAGE OF THE NEW YEAR AFTER IMPORTANT BUDGET BATTLES HERE AND IMPORTANT PIECES OF LEGISLATION, IT'S IMPORTANT TO REFLECT ON THE PROPER BALANCE BETWEEN RESPONSIBILITY AND CHARITY AS WELL AS THOSE WHO CONTINUE TO BE LEFT BEHIND OR FORGOTTEN. AMERICANS ARE THE MOST GENEROUS PEOPLE IN THE WORLD. AND WE ALSO DEEPLY VALUE RESPONSIBILITY. AND WE KNOW THAT A FULFILLED LIFE REQUIRES REWARDING WORK. UNFORTUNATELY, UNEMPLOYMENT AND UNDEREMPLOYMENT CONTINUE TO HINDER A FASTER ECONOMIC RECOVERY CAUSING MUCH ANXIETY FOR PERSONS AND THEIR FAMILIES. ACCORDING TO A NEW SURVAY FROM CAREER BUILDER, EIGHT OUT OF 10 PEOPLE SAY THEY ARE LIVING FROM PAYCHECK TO PAYCHECK. AND THIS SHOULD NOT OBSCURE THIS DIFFICULT REALITY. SO TO BETTER HELP PERSONS HELP ONE ANOTHER IN THE FULL DIGNITY OF WORK, OUR NEXT PHASE OF ECONOMIC REGENERATION MUST BE AN ATTEMPT TO FIND THE PROPER BALANCE BETWEEN RIGHT-SIZED GOVERNMENT, RESPONSIBILITY TO ONE ANOTHER AND REASONABLE EXPECTATIONS THAT EVERYONE CAN CONTRIBUTE SOMETHING, ACCORDING TO THEIR MEANS AND THEIR CAPACITY. EVERYONE HAS SOMETHING TO GIVE. AS THIS RECOGNITION AND ECONOMIC RE-GENERATION REKINDLES, SEVERAL GUIDE POFTS SHOULD BE KEPT IN MIND AND THE ARASHEURE OF WHAT I CALL ENTREPRENEURIAL IMPEDIMENTS AND ADDRESS AND AMEND A DEEP SOCIETAL SENSE OF BREAUX KENNESS. WHEN PERSONS ARE UNEMPLOYED OR UNDEREMPLOYED, THEY COULD ENTER A DOWNWARD SPIRAL IN THEIR LIVES. MR. SPEAKER, AS WE WELL KNOW, WASHINGTON ALONE CANNOT CREATE A HUMANE ECONOMY THAT WORKS FOR THE MANY. AMERICANS WORKING TOGETHER FORM THE CORNSTONE OF A VIBRANT MARKET. THE FULLER ANSWER TO UNEMPLOYMENT AND UNDEREMPLOYMENT AND LACK OF FINANCIAL ASSETS ALONG WITH THE RESULTING LOSS OF SOCIAL CAPITAL MIGHT BE FOUND IN THE IDEA THAT SOCIETY AND GOVERNMENT SEEING WORK AS AR COMMON ENDEAVOR FOR US ALL. AFTER ALL, ECONOMICS IN ITS ESSENCE IS NOT JUST A TRANSACTION BUT PROFOUNDLY RELATIONAL. THE PROFOUND MEANING OF WORK ALSO REQUIRES THE RIGHT WORDS, THE OVERRELINES IN THIS BODY PARTICULARLY ON DEPERSONALIZING ECONOMIC LANGUAGE IS ONE REASON THAT WASHINGTON CAN SEEM SO DISCONNECTED AND ALOOF FROM REAL COMMUNITIES AND REAL PEOPLE. AT THE END OF THE MONTH, IF A PERSON CAN'T PA PASS THEIR GAS BILL, THEY ARE UNLIKELY TO CARE FOR D.G.P. GROWTH. RECENT NEWS CYCLES ARE TRACKING THE STOCK MARKET VALUATIONS WITH UPS AND DOWNS AS OF LATE AND THIS IS EXCEEDED MOST EXPECTATION BUT DEMROGE GREEN NUMBERS AND SIGNALS PROVIDE LITTLE REASSURANCE TO MILLIONS OF AMERICANS WHO WERE PRICED OUT OF OWNING STOCK. ULTIMATELY, MR. SPEAKER, A LACK OF WORK AS WELL AS A LACK OF ASSURANCE IN THE SECURITY OF GOVERNMENT GUARDRAILS AND EARNED BENEFITS CAN TAKE THE LIFE OF A DIMINISHING TOLL. I HAVE SENIORS WHO WRITE TO ME AND SUGGEST TO US IN PRETTY CLEAR TERMS THAT THEY AREN'T ENTITLED TO THEIR OWN MONEY, THROW THE LANGUAGE AROUND OF ENTITLEMENTS REFERRING TO PROGRAMS THAT WOMEN SET ASIDE TO MONEY. OR GIVEN A GUARANTEE. IT'S NOT AN ENTITLEMENT BUT SOMETHING PEOPLE WORKED FOR. BOTH DIGNITY AND EARNED BENEFITS, SOMETIMES ARE THOSE WHO ARE FORGOTTEN. I APPROACH MY DOOR, RECENTLY MR. SPEAKER, HERE AT MY OFFICE AND THERE WAS A LARGE CROWD OF MEN WHO GATHERED AND IN CAMOFLAUGE T-SHIRTS WAITING OUTSIDE. AND WE HAVE EXPERIENCED A NUMBER OF VISITORS FROM OUR HOME STATE. AND IN MY OFFICE, THEY HAVE TO STACK UP. AS I GOT CLOSER, THE FRONT OF THESE T-SHIRTS THESE MEN HAD ON, READ UNITED MINE WORKERS AND I THOUGHT THAT WAS UNUSUAL TO SEE THEM WEARING UNITED MINE WORKER T-SHIRTS BUT THEY WERE WAITING FOR MY NEIGHBOR WHO IS FROM THE STATE OF KENTUCKY. WE BEGAN A MEANINGFUL CONVERSATION ABOUT WORK AND SECURITY AND FAIRNESS. . MEN WHO SPENT THEIR LIVES IN HARD JOBS AND I'M SURE THEY TOILED VERY PROUDLY TO MAKE A REASONABLE LIVING FOR THEIR FAMILIES. BUT THEY ALL NOW SHOWED REAL SIGNS OF PHYSICAL FATIGUE. AND THEY WERE IN WASHINGTON MAKING A PLEA FOR THEIR PENSIONS WHICH ARE FACING DRAMATIC REDUCTIONS. A SIMILAR SITUATION DOES EXIST IN NEBRASKA FOR ANOTHER GROUP OF WORKERS. THESE PERSONS WORK FOR A GUARANTEE THAT THEY WOULD BE PROVIDED FOR WHEN THEY COULD WORK NO MORE, BUT GIVEN A CONFLUENCE OF FACTORS, THEIR PENSION TOOK A DRAMATIC SHORTFALL AND, FRANKLY, IT'S NOT FAIR. I LIVED FOR SEVERAL YEARS AS A YOUNGER MAN IN THE AREA WHERE THESE GENTLEMEN HAD COME FROM, IN A TOWN THAT HAD LOST HALF OF ITS POPULATION IN 20 YEARS, IN THE OLD -- WHAT'S CALLED THE OLD INDUSTRIAL RUST BELT WHERE THE POST-WORLD WAR II ECONOMIC BOOM HAD BUILT A THRIVING, STABLE COMMUNITY, BUT NOW WERE GLOBALIZED SUPPLY SIDE THEORY HAD ITS MOST DRAMATIC, DEGENERATING ECONOMIC EFFECT. AND I SAID TO ONE OF THESE MEN, YOU KNOW THAT I KNOW WHERE YOU COME FROM. AND WE HUGGED. MR. SPEAKER, OUR COUNTRY IS IN PAIN. EPIC HURRICANES AND FLOODS, ESCALATING URBAN VIOLENCE AND OPIOID EPIDEMIC, THOSE SELF-MEDICATING BECAUSE OF THEIR MENTAL, PHYSICAL, FINANCIAL ANGUISH. COMBINE THIS WITH THE LINGERING EFFECTS OF BAITERLY FOUGHT LAST ELECTORAL SEASON HAS TORN AT AMERICA'S HEART. IN A VIBRANTLY HEALTHY SOCIETY, THOUGH, THERE SHOULD BE SPACE FOR WHAT I CALL MARKETPLACE FLUIDITY AND CREATIVITY AND INNOVATION. A PERSON WHO HAS AN IDEA AND THE DRIVE SHOULD BE ABLE TO PURSUE IT. THE BENEFITS ACCRUE, OF COURSE, TO THIS PERSON AS THE INVENTOR BUT ALSO THE BUYER OF THOSE SERVICES, THE COMMUNITY, AND THOSE WHO GAVE THE EFFORT IN THE BUILDING OF THIS PRODUCT OR SERVICE. SO A HEALTHY ECONOMY IS TWO THINGS AT ONCE. IT'S INDIVIDUALISTIC AND IT'S COMMUNITY-ORIENTED AT THE SAME TIME. INNOVATION AND COMPETITION CAN BE DISRUPTIVE BUT THEY MUST BE SET WITHIN A FAIR SET OF RULES. WHEN A SYSTEM STACKS TO THE WEALTHIEST OR IS OUTSOURCED BY FACELESS CORPORATIONS IN THE NAME OF ADVANCING QUARTERLY PROFITS, EXPLOITING THE POOR ELSEWHERE AND DAMAGING THE ENVIRONMENT ELSEWHERE WHERE THERE IS A LAX LEGAL FOUNDATION AND THEREFORE AN INDIRECT SUBSIDY TO -- THE COSTS ARE BORNE BY PERSONS ELSEWHERE IN THE FORM OF SHORTER LIVES AND THE EFFECTS OF POLLUTION, IT SETS IN MOTION NOT ONLY DIFFICULTIES IN OTHER PLACES BUT HERE A LOSS OF JOBS, LOSS OF COMMUNITY COHESION AND BREAKDOWN OF LIFE'S STABILITY. AND TIE THIS TO THE LOSS OF THE FORMATIVE INSTITUTIONS OF FAMILY LIFE AND FAITH LIFE AND CIVIC LIFE AND WE DRIFT. WE DRIFT. WE DRIFT WITHOUT A NATIONAL NARRATIVE. MAKE IT MUCH MORE DIFFICULT TO RESPOND WHOLISTICALLY IN THE MIDST OF TRAGEDY TO OUR GREATER CHALLENGES AND PROBLEMS. FOR A MOMENT I WANT TO SPEAK ABOUT A PERSON WHO PARTICIPATED IN ONE OF MY TELEPHONE TOWN HALLS WHO SHE TOLD ME SHE'S AN ARCHITECT AND HER HUSBAND'S AN ARCHITECT AND THEY WERE VERY INTERESTED IN STARTING AN ARCHITECTURAL FIRM ON THEIR OWN BUT THEY CAN'T. WHY CAN'T THEY? THEY HAVE THE EDUCATION. THEY HAVE THE DRIVE. THEY WANT TO BE INNOVATIVE AND DISRUPTIVE. THEY WANT TO DO CREATIVE WORK WITH THEIR OWN TWO HANDS AND TAKE THE RISKS NECESSARY TO PROVIDE SOMETHING NEW, NOFBLE IN THE MARKETPLACE. -- NOVEL IN THE MARKETPLACE. THEY HAVE A SICK CHILD. SO BY THE TIME THEY GO ONTO THE INDIVIDUAL INSURANCE MARKET AND TRY TO OBTAIN INSURANCE FOR THEMSELVES, KNOWING THEY'RE GOING TO HAVE TO PAY THE FULL DEDUCTIBLES AND CO-PAYS, THAT BILL -- THIS WAS A LITTLE WHILE BACK. I SUSPECT IT'S HIGHER NOW. THE BILL WAS GOING TO BE CLOSE TO $30,000. BEFORE THEY EVEN OPEN THEIR DOOR THEY HAVE AN UPFRONT COST OF $30,000 JUST FOR A LITTLE BIT OF PERSONAL PROTECTION. SO WHAT HAPPENS? THEY STAY PUT. THEY'RE TETHERED TO INSTITUTIONS THAT MAY NOT BE AS GRATIFYING TO THEM. SOCIETY LOSES FROM THEIR INABILITY TO TAKE THAT RISK AND PROVIDE THAT PRODUCT OUT IN THE MARKET. BECAUSE THEY'RE TETHERED. THEY'RE HANDCUFFED TO A BENEFIT CALLED HEALTH CARE THAT A LARGE INSTITUTION CAN PROVIDE BUT A SMALL ENTREPRENEUR CAN'T. THIS MAKES NO SENSE. WE HAVE SOME SPECIFIC IDEAS ON THIS AND WE'RE WORKING TO GROW A BIPARTISAN WORKING GROUP TO MAKE PROPER CHANGES POTENTIALLY IN THAT INDIVIDUAL INSURANCE MARKET WHEREBY PEOPLE CAN POOL TOGETHER MORE EASILY, WHERE THERE IS A BETTER TYPE OF MAJOR MEDICAL PRODUCT OUT THERE THAT WOULD BE A LOT LESS EXPENSIVE. AND PERHAPS USING AN IDEA THAT WAS EMBEDDED IN THE HEALTH CARE DEBATE EARLIER THIS YEAR WHERE THE GOVERNMENT PROVIDES A STABILIZING REINSURANCE MODEL SO THE MARKET CAN ACTUALLY WORK WITHIN A CERTAIN BANDWIDTH BUT THE SICKEST PERSON PAYS THE SAME RATE BUT IS PROTECTED FROM EXCESS EXPENSE BY A MORE GOVERNMENT SUBSIDY. JUST MAKES SENSE. THINK ABOUT THE ENTREPRENEURIAL POTENTIAL THAT THEN WOULD BE RELEASED, CREATING OPPORTUNITY, MORE JOBS, BETTER PRODUCTS. WE'RE CONSTRAINING OURSELVES FOR NO REASON HERE. I HOPE THAT THIS CHAPTER WITH UNFOLD IN THE COMING WEEKS. SOME PEOPLE OF GOOD WILL ARE TRYING TO WORK THROUGH THIS AND THERE IS SIGNIFICANT FEEL, I FEEL, ON BOTH SIDES OF THE AISLE. WE HAVE TO BREAK THROUGH IT. MR. SPEAKER, WE ALSO, FROM MY PERSPECTIVE, LIVING IN A PARADOXICAL AGE WHERE WE ARE MORE DEPENDENT ON BIG BUSINESS FOR INFORMATION FLOW AND CONSUMER GOODS AND AT THE SAME TIME WE ARE A -- MORE AND MORE SKEPTICAL OF THIS MODEL. I WAS TRAINED IN AN ERA WHERE ECONOMIC LANGUAGE WAS CAST IN TERMS OF EFFICIENCY AND OPTIMISMIZATION, INPUTS, THE FREE FLOW OF CAPITAL AND LABOR AND ON AND ON, ALL THE VOCABULARY OF ECONOMIC ACADEMIC THEORY. THESE ARE ANALYTICAL AND MECHANICAL TERMS NECESSARY FOR UNDERSTANDING MARKET FUNCTION. BUT THEY LACK A CONNECTION TO ANY DEEPER PURPOSE. AND ULTIMATELY A PROPERLY FUNCTIONING MARKET IS A CONNECTOR OF COMMUNITY, A DELIVERY MECHANISM FOR MATERIAL WELL-BEING AND AN OPPORTUNITY ENHANCER FOR INDIVIDUAL INITIATIVES AND REWARDING WORK. THESE CLASSICAL ECONOMIC EXPRESSIONS LACK A DEEPER UNDERSTANDING OF THE ULTIMATE PURPOSE OF PRODUCTION. I ONCE ASKED A PROFESSOR WHEN I WAS YOUNG, WHO DOES ENORMATIVE ANALYSIS? WHO ASKS THE QUESTION, WHAT OUGHT TO BE? WHAT INSTITUTION IS DOING THAT? HE SAID, NO ONE. MR. SPEAKER, YOU'RE A FAIRLY YOUNG MAN. YOU KNOW THIS AS WELL. WE ARE LONG PAST THE AGE WHEN WORKING ONE'S ENTIRE CAREER IN THE SAME LARGE CORPORATION GUARANTEED SECURITY AND WELL-BEING. IT'S FINISHED. THE CURRENT CORPORATE CONSTRUCT IS DESPERATELY DRIVEN AND HOPELESSLY FRAGMENTED BY QUARTERLY PROFIT MANDATES, SHORT-TERM DECISIONS OVERRULE LONG-TERM STRATEGY. AND WHILE THIS IS OCCASIONALLY BROUGHT TO HEEL BY A SCANDAL AND MALFEASANCE, MOST MULTINATIONALS ARE NO LONGER TETHERED TO A FACE OR SPACE SO THEY PITCH US ON TV AND PRINT IMAGES WITH CARING IMAGES AND KINDLY DEEM US WORTHY TO HELP WITH THEIR CHOSEN CAUSES AND THEN MAJOR CITIES WITH MAJOR AIRPORTS BECOME THE HUB AND THE REST OF US HAVE TO JUST BUY IT. NOW, LES I SOUND TOO CRITICAL -- LEST I SOUND TOO CRITICAL, THEY PROVIDE A CERTAIN SPACE FOR PRODUCING INDUSTRIAL GOODS AND LARGE-SCALE PRODUCTS AND CAN PROVIDE EXCITING OPPORTUNITY. THAT'S ALL TRUE. AND NECESSARY. BUT I ALSO THINK WE'RE ON THE FRONT END OF SOMETHING, MR. SPEAKER. THERE'S A HUNGER FOR THE NEXT ECONOMIC TREND TO REORIENT AROUND THE REVITALIZATION OF MAIN STREET INCLUDING LOCAL FOODS, SUSTAINABLE ENERGY PRODUCTION, SMARTER SERVICES AND SMALLER SCALE MANUFACTURING. RE-CREATING THAT LONG LOSS SENSE OF PLACE IN OUR COMMUNITIES. IMAGINE A NEW URBANISM OF AN ECONOMIC ECOSYSTEM WITH FRIENDLY NEIGHBORHOODS, NEARBY CENTERS OF SMALLER SCALE, MICRO BUSINESSES, CONTEXTUALLY APPROPRIATE ARCHITECTURE AND EASILY ACCESSIBLE PUBLIC PLACE. WE SEE THIS TREND DEVELOPING AND FRANKLY IT'S VERY EXCITING. NOW, WE HAD A BILL RECENTLY IN WHICH WE TOOK AN IMPORTANT VOTE HERE ON TAX REFORM. I BELIEVE THIS IS GOING TO HELP. I BELIEVE THAT TAX REFORM LEGISLATION WILL HELP REBALANCE A NUMBER OF BUSINESS INEQUITIES, PARTICULARLY FOR SMALL BUSINESS, WHERE MOST JOBS COME FROM. ESTIMATED AN AVERAGE NEBRASKA FAMILY OF FOUR WILL RECEIVE ABOUT A $2,000 -- MORE THAN $2,000 EXTRA BENEFIT IN THEIR POCKET FROM THE IMMEDIATE IMPACT OF THE TAX BILL AND THE REHE LEAF THAT THEY'LL GET. OVER TIME, DUE TO INCREASED WAGES, THAT WILL TRANSLATE INTO ABOUT A $4,000 BENEFIT. I THINK THIS IS IMPORTANT BECAUSE AMERICANS NEED A BREAK. ESPECIALLY WORKING MEN AND WOMEN TRYING TO GET A BIT AHEAD AND TRYING TO PROVIDE FOR THEIR FAMILY WELL. FOR MANY IT'S ALSO HARDER AND HARDER HE. AS WE SAID, MANY AMERICANS ARE LIVING PAYCHECK TO PAYCHECK. THAT'S NOT FULLY A TAX CODE PROBLEM. IT'S THE HARSH REALITY OF SOCIAL FRAGMENTATION, DOWNWARD MOBILITY AND THE RISING COST OF LIVING AND SKYROCKETING INCOME DISPARITY DRIVEN BY INEQUITABLE GLOBALIZATION AND CONCENTRATION OF ECONOMIC POWER. THESE FORCES HAVE NOT FUNDAMENTALLY BENEFITED US FULLY, AND THEY'VE LEFT MILLIONS OF PEOPLE BEHIND. BUT I THINK THIS TAX REFORM MEASURE WAS IMPORTANT BECAUSE IT REBALANCES, PARTICULARLY REBALANCES THE INCENTIVE TO OFF-SHORE. IN ADDITION TO PUTTING MORE MONEY IN THE POCKETS OF HARDWORKING AMERICANS, IT DOES SUPPORT THE REVITALIZATION OF MAIN STREET AND THE RETURN OF THE MADE IN AMERICA LABEL. THIS LEGISLATION ALSO PROVIDES A REASONED PROGRESS -- PROVIDED A REASONED PROGRESS IN THE ATTEMPT TO MAKE THE TAX CODE SIMPLER AND FAIRER AND TO RESOLVE THIS CONVOLUTED SET OF PROBLEMS THAT OVERBURDENED FAMILIES AND PERSONS AND SMALL BUSINESSES ACROSS THE NATION. I THINK THIS IS IMPORTANT BECAUSE WE'RE LIVING IN AN AGE WHERE WE CAN'T KEEP PUSHING THE SAME POLICIES OVER AND OVER AND EXPECT THEM TO FIT INTO A 21ST CENTURY ARCHITECTURE OF WELL-BEING AND SUCCESSFUL LIVING. MOVING FORWARD, I BELIEVE, THE SOURCE AND STRENGTH OF THE AMERICAN ECONOMY WILL BE IN THIS NEW URBANISM OF SMALL BUSINESS IN WHICH ENTREPRENEURS FROM VILLAGE TO CITY ADD VALUE THROUGH SMALL-SCALE MANUFACTURING, INNOVATIVE NEW PRODUCTS, OR BROKERING IN REPAIR SERVICES. NOW, WE DO ANTICIPATE A SPIKE IN THE INITIAL DEFICIT FROM THE TAX BILL, BUT WE'RE ALREADY SEEING A SURGE OF REVITALIZATION AND POSSIBILITY OF ECONOMIC OPPORTUNITY. AND GIVEN THIS REORIENTATION OF THE TAX POLICY AROUND THE FAMILY, HOPEFULLY WITH THE ENTREPRENEURIAL MOMENTUM WILL GENERATE MORE JOBS, EARNINGS, AND REVERSE THIS DOWNWARD TREND IN SMALL BUSINESS FORMATION. LESS TAX, MORE TAXPAYERS, MORE REVENUE OVER TIME, THAT'S THE CALCULATION. AND AS MORE OPPORTUNITY APPEARS, MORE PERSONS SHOULD ALSO BE ABLE TO TRANSITION FROM IMPORTANT SUPPORT MECHANISMS AND SYSTEMS INTO MEANINGFUL WORK. NOW THIS TAX REFORM ATTEMPTS TO BE SENSITIVE TO THE NEEDS OF ALL AMERICANS, AS IT BEGINS TO PUSH FOR A MODERNIZED REVENUE CONSTRUCT THAT NO LONGER ENABLES THE COMPLEX LAWYERED-UP QUARTERLY-DRIVEN MULTINATIONALS TO UNJUSTLY BENEFIT FROM LOW TAXES ABROAD, WHILE TAKING ADVANTAGES OF TAX LOOPHOLES HERE. IT REBALANCES THE PERVERSE INCENTIVES TO OFFSHORE. AT THE SAME TIME, IT USES THE LOWER CORPORATE RATES TO BRING FOREIGN PROFITS BACK TO AMERICA AND WE'RE ALREADY SEEING THE EFFECT. SO, ON BALANCE, THIS WAS A MASSIVE HISTORIC AND NECESSARY OVERHAUL OF OUR ANTIQUATED, HARSH AND COMPLICATED TAX SYSTEM. SO THE FAMILIES CANNOT -- CANNOT ONLY GET BY, BUT -- CAN NOT ONLY GET BY, BUT MAYBE THEY CAN START GETTING AHEAD. IF WE CAN COMBINE THIS WITH A SMALL BUSINESS ECOSYSTEM OF REVIVED ENTREPRENEURIAL MOMENTUM, AND A PART OF THAT IS THE NEXT SET OF POLICIES HOPEFULLY THAT WILL BE EMPOWERING WITH A NEW TYPE OF HEALTH CARE PRODUCT, THAT IS STABLE FOR PERSONS WHO DO WANT TO ENTER INTO THE FORMATION OF THEIR OWN SMALL BUSINESS NOW. BUT ARE NOT EQUIPPED -- NOT EMPOWERED TO DO SO. THIS WILL ONLY STRENGTHEN THIS ENTREPRENEURIAL REVITALIZATION. THERE IS NO WAY TO CALCULATE THE HELD, PENT-UP BENEFIT OF UNLEASHING THIS POTENTIAL. AGAIN, BECAUSE WE'VE TETHERED PEOPLE TO A BENEFIT PACKAGE BASED UPON INSTITUTIONS THAT ARE ABLE TO AFFORD IT, WE'VE DRAINED OURSELVES, MADE OURSELVES WEARY FROM BEING ABLE TOWN LEASH THE FULLNESS OF THE POTENTIAL TO CREATE THINGS WITH YOUR OWN HANDS OR YOUR OWN INTELLECT THAT ARE GOOD FOR YOU, GOOD FOR YOUR FAMILY AND GOOD FOR OTHERS. THAT'S WHAT WE MEAN BY A NEW SMALL BUSINESS ECOSYSTEM THAT HAS REVIVED ENTREPRENEURIAL MOMENTUM. MR. SPEAKER, IN THE MIDDLE EAST THE JORDAN RIVER FLOWS INTO BOTH THE SEA OF GALILEE AND THE DEAD SEA. THERE'S A DIFFERENCE BETWEEN THE TWO BODIES OF SEAS. ONE OF THEM IS DEVOID OF LIFE. WATER FLOWS IN, BUT NOTHING FLOWS OUT. IT'S DEAD. ABUNDANT LIFE REQUIRES BOTH GIVING AND RECEIVING. BOTH CHARITY AND RESPONSIBILITY. AN ECONOMY THAT IS FOUNDED UPON THESE STRENGTHS, WHICH WE'VE DISCUSSED TONIGHT, SUPPORTED BY A RIGHT-SIZED GOVERNMENT AND A DEDICATED, HARDWORKING PEOPLE CAN ONLY KEEP GROWING STRONGER. AND THEN MAYBE, MAYBE WE CAN SAY, DON'T YOU FORGET ABOUT ME. AND THAT WE WILL NEVER FORGET ABOUT YOU. THANK YOU, MR. SPEAKER. I YIELD BACK.

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                        • 06:03:15 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 3, 2017, THE GENTLEMAN FROM TEXAS, MR. GREEN, IS RECOGNIZED FOR 60 MINUTES AS THE DESIGNEE OF THE MINORITY LEADER.

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                        • 06:03:28 PM

                          MR. GREEN

                          THANK YOU, MR. SPEAKER. MR. SPEAKER, I ASK UNANIMOUS CONSENT FOR ALL…

                          THANK YOU, MR. SPEAKER. MR. SPEAKER, I ASK UNANIMOUS CONSENT FOR ALL MEMBERS TO HAVE FIVE DAYS TO REVISE AND EXTEND THEIR REMARKS ON THE SUBJECT OF MY SPECIAL ORDER.

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                        • 06:03:41 PM

                          TEMPORE WITHOUT

                          WITHOUT OBJECTION.

                        • 06:03:42 PM

                          MR. GREEN

                          MR. SPEAKER, THIS IS FEBRUARY 14, VALENTINE'S DAY. AND THIS IS BUT ONE…

                          MR. SPEAKER, THIS IS FEBRUARY 14, VALENTINE'S DAY. AND THIS IS BUT ONE DAY, OF COURSE, IN THE MONTH OF FEBRUARY WHICH IS BLACK HISTORY MONTH. AND I AM HONORED TO STAND HERE TONIGHT TO PRESENT A RESOLUTION THAT WILL BE FILED, A BLACK HISTORY RESOLUTION. BUT I'M GLAD TO SAY A GOOD MANY OF MY COLLEAGUES ARE IN SUPPORT OF BLACK HISTORY MONTH AND THEY DESIRE TO HAVE THEIR WORDS, THEIR EXPRESSIONS, MADE KNOWN. WHICH IS WHY I'VE ASKED FOR THIS UNANIMOUS CONSENT. MY BELIEF IS THAT WE WILL HAVE MANY, MANY PERSONS WHO ARE NOT HERE TONIGHT, FOR LEGITIMATE REASONS, WHO WILL WANT TO MAKE SURE THAT THEY ARE MADE A PART OF THE RECORD BY AND THROUGH THEIR COMMENTS THAT THEY WILL SUBMIT IN WRITTEN WORD. MR. SPEAKER, I'M HERE TO TALK ABOUT BLACK HISTORY BECAUSE FOR MANY YEARS, TOO MANY YEARS, TO BE QUITE HONEST, THE HISTORY OF AFRICANS IN THE AMERICAS, THE HISTORY OF BLACK PEOPLE IN AMERICA, THE HISTORY OF AFRICAN-AMERICANS, AT ONE TIME KNOWN AS NEGROS, THIS HISTORY WAS DELETED FROM THE HISTORY BOOKS. IT WAS SAID IN ONE BOOK THAT BECAUSE LITTLE CONTRIBUTIONS WERE MADE TO WORLD HISTORY, THERE WOULD BE LITTLE MENTION OF AFRICANS IN HISTORY. BUT, MR. SPEAKER, WE KNOW NOW THAT THIS IS NOT TRUE. AND BECAUSE WE KNOW THAT IT IS NOT TRUE, WE SEEK TO AT LEAST GIVE SOME INDICATION IN THE RECORDS THAT AFRICAN-AMERICANS HAVE MADE A SIGNIFICANT CONTRIBUTION IN AMERICA. BUT ALSO THE TRUTH IS THAT AFRICANS HAVE MADE A CONTRIBUTION TO WORLD HISTORY. HOWEVER, TONIGHT THIS RESOLUTION WILL FOCUS ON AND IT WILL RECOGNIZE AND CELEBRATE BLACK HISTORY MONTH. AND IN SO DOING, WE WOULD LIKE TO PRESENT THE RESOLUTION THAT WILL BE FILED AT A LATER TIME. MR. SPEAKER, WHEREAS THE THEME FOR BLACK HISTORY MONTH, 2018, IS AFRICAN-AMERICANS IN TIMES OF WAR. SOMETHING THAT WE HAVE NOT FOCUSED ON TO THE EXTENT THAT WE SHOULD HAVE. BECAUSE AFRICAN-AMERICANS HAVE MADE SIGNIFICANT CONTRIBUTIONS TO OUR COUNTRY DURING TIMES OF WAR. THIS TEAM, WHICH COMMEMORATES THE CENTENNIAL OF THE END OF THE FIRST WORLD WAR IN 1918, AND EXPLORES THE COMPLEX MEANINGS AND IMPLICATIONS OF THIS INTERNATIONAL STRUGGLE AND ITS AFTERMATH. WHEREAS THIS RESOLUTION WILL FOCUS PRIMARILY ON AFRICAN-AMERICANS IN THE MILITARY, WHICH IS BUT ONE HISTORICALLY IMPORTANT ASPECT OF THIS FAR-REACHING EXPLORATION OF AFRICAN-AMERICAN HISTORY. WHEREAS AFRICAN-AMERICANS HAVE FOUGHT FOR THE UNITED STATES THROUGHOUT ITS HISTORY. WHEREAS DESPITE RACIAL SEGREGATION AND DISCRIMINATION, AFRICAN-AMERICANS HAVE PLAYED A SIGNIFICANT ROLE DURING TIMES OF WAR, FROM THE COLONIAL PERIOD FORWARD. AND, MR. SPEAKER, IT'S INTERESTING TO NOTE, AS AN ASIDE NOW, THAT IT WAS NOT UNTIL 1948, BY PRESIDENTIAL EXECUTIVE ORDER, THAT TRUMAN, PRESIDENT TRUMAN, DESEGREGATED THE MILITARY. CONTINUING. WHEREAS A FUGITIVE SLAVE WORKING OUTSIDE OF BOSTON, MASSACHUSETTS, AS A SAILOR AND DURING THIS TIME, HIS TIME OFF, HE WORKED AS A ROPE MAKER NEAR THE WHARF. WHEREAS IN EARLY 1770, COMPETITION FOR WORK AND WAGES BECAME STIFF, AS BRITISH SOLDIERS WERE CONTENDING FOR THE SAME UNSKILLED POSITION AS THE LOCALS. THAT WOULD BE HIM AND OTHER LOCATES -- LOCALS. WHEREAS THIS SITUATION CREATED TENSION WHICH SLOWLY ESCALATED TO VIOLENT CONFRONTATIONS. WHEREAS ON MARCH 5, 1770, HE LED A GROUP OF ROPE MAKERS AND SAILORS INTO A CONFRONTATION WITH A GROUP OF BRITISH SOLDIERS AND SUBSEQUENTLY WAS SHOT AND KILLED. WHEREAS A BLACK MAN IS GENERALLY CONSIDERED TO BE THE FIRST CASUALTY OF THE REVOLUTIONARY WAR. AND IS REMEMBERED AS THE FIRST OF MANY NOTABLE AFRICAN-AMERICAN HEROES. WHEREAS AMENTIA ROSS WAS BORN INTO SLAVERY IN MARYLAND AND ESCAPED TO FREEDOM IN THE NORTH IN 1849. TO BECOME THE MOST FAMOUS CONDUCTOR ON THE UNDERGROUND RAILROAD. WHEREAS AMENTIA ROSS WAS A LEADING ABOLITIONIST BEFORE THE AMERICAN CIVIL WAR, AND ALSO HELPED THE UNION ARMY DURING WAR. WORKING AS A SPY, AMONG OTHER ROLES. WHEREAS AMENTIA ROSS, A BLACK WOMAN, GUIDE THE CONFEDERATE RIVER RAID, WHICH LIBERATED MORE THAN 700 SLAVES IN SOUTH CAROLINA. WHEREAS AMENTIA ROSS, BETTER KNOWN AS HARRIET TUBMAN, WAS THE FIRST WOMAN TO LEAD AN ARMED EXPEDITION DURING THE CIVIL WAR. WHEREAS POWOTAN BAITY WAS BORN A SLAVE IN RICHMOND, VIRGINIA, IN 1836. WHEREAS WHEN THE CIVIL WAR BROKE OUT, BAITY ENLISTED IN THE UNION ARMY. WHEREAS BAILEY, A BLACK MAN, WAS QUICKLY PROMOTED TO SERGEANT AND OVERSAW 47 OTHER BLACK RECRUITS IN NONCOMBAT JOBS. WHEREAS IN SEPTEMBER OF 1864, BAITY'S DIVISION ATTACKED THE ENEMY AT CATHERINE'S FARM AND -- NEAR RICHMOND, VIRGINIA. WHEREAS WITH ALL OF THE OTHER UNITS'S OFFICERS AND MOST OF ITS -- UNIT'S OFFICERS AND MOST OF ITS ENLISTED MEN DEAD AND WOUNDED, BAITY TOOK OVER AND LED A SECOND CHARGE DURING THE ENEMY -- DRIVING THE ENEMY BACK. WHEREAS FOR HIS HEROISM, BAILEY , A BLACK MAN, WAS AWARDED THE MEDAL OF HONOR. WHEREAS BENJAMIN OLVER DAVIS SR. ENTERED THE MILITARY SERVICE ON JULY 13, 1898. DURING THE SPANISH AMERICAN WAR. AND AS A TEMPORARY FIRST LIEUTENANT OF THE 8TH UNITED STATES VOLUNTEER INFANTRY. WHEREAS ON JUNE 18, 1899, HE ENLISTED AS A PRIVATE IN THE 9TH CAVALRY OF THE REGULAR ARMY. WHEREAS DAVIS EVENTUALLY BECAME -- EXCUSE ME, WHEREAS DAVIS EVENTUALLY CAME UNDER THE COMMAND OF CHARLES YOUNG, WHOM AT THE TIME WAS THE ONLY AFRICAN-AMERICAN OFFICER SERVING IN THE U.S. MILITARY. WHEREAS YOUNG TOOK DAVIS UNDER HIS TUTELAGE AND HELPED HIM TO PREPARE TO TAKE HIS OFFICER CANDIDATE TEST. WHEREAS IN ONLY TWO YEARS HE ROSE TO SERGEANT MAJOR AND EARNED A COMMISSION AS A SECOND LIEUTENANT IN 1901. WHEREAS BENJAMIN OLVER DAVIS, A BLACK MAN, ROSE THROUGH THE RANKS AND BECAME THE FIRST AFRICAN-AMERICAN TO ACHIEVE THE RANK OF BRIGADIER GENERAL IN THE U.S. MILITARY. WHEREAS DURING WORLD WAR I, APPROXIMATELY 800, NO ONE IS SURE OF THE NUMBER, BUT APPROXIMATELY 800 AFRICAN-AMERICANS WERE KILLED IN ACTION. WHEREAS DORI MILLER ENLISTED IN THE U.S. NAVY AS AS ME ATTENDANT, MEANING HE WAS A PERSON WHO SERVED THOSE OTHERS WITH FOOD AND TOOK CARE OF THE CLEANING OF FACILITIES, AND HE SERVED ON THE U.S.S. WEST VIRGINIA. WHEN THE JAPANESE ATTACKED PEARL HARBOR ON DECEMBER 7 OF 1941. WHEREAS MILLER WAS ASSIGNED TO CARRY THE WOUNDED SAILORS TO SAFER QUARTERS. WHEREAS HE RETURNED TO THE DECK AND PICKED UP A 50-CALIBER BROWNING ANTI-AIRCRAFT MACHINE GUN THAT HE HAD NEVER BEEN TRAINED TO USE AND MANAGED TO SHOOT DOWN ENEMY AIRCRAFT. WHEREAS DOERY MILLER, A BLACK MAN -- DORI MILLER, A BLACK MAN, WAS COMMENDED BY SECRETARY OF NAVY AND BECAME THE FIRST AFRICAN-AMERICAN TO BE PRESENTED THE NAVY CROSS. WHEREAS CIVIL RIGHTS ORGANIZATIONS AND BLACK PRESS EXERTED PRESSURE ON PRESIDENT ROOSEVELT WHICH RESULTED IN THE FORMATION OF THE TUSKEGEE AIRMEN BASED IN TUSKEGEE, ALABAMA, IN 1941. WHEREAS BEFORE 1940, AFRICAN-AMERICANS WERE BARRED FROM FLYING FOR THE U.S. MILITARY. WHEREAS THE TUSKEGEE AIRMEN INCLUDED PILOTS, NAVIGATORS, MAINTENANCE AND SUPPORT STAFF, INSTRUCTERS, AS WELL AS THE -- INSTRUCTER -- INSTRUCTORS, AS WELL AS THE PERSONNEL WHO KEPT THE PLANES AND PILOTS IN THE AIR. WHEREAS THE BLACK TUSKEGEE AIRMEN OVERCAME PREJUDICE AND DISCRIMINATION TO BECOME ONE OF THE MOST HIGHLY RESPECTED GROUPS OF WORLD WAR II PILOTS. WHEREAS THE TUSKEGEE AIRMEN ACHIEVED ACHIEVEMENTS -- ACHIEVEMENTS HELPED PAVE THE WAY FOR FULL INTEGRATION -- PAVED THE WAY -- HELPED PAVE THE WAY OF THE FULL INTEGRATION OF THE U.S. MILITARY. WHEREAS CORNELIUS CHARLESTON, A CAREER MILITARY MAN, SERVED IN THE ARMY DURING THE KOREAN WAR. WHEREAS ON JUNE 2, 1951, HIS PLATOON ENCOUNTERED HEAVY RESISTANCE WHILE ATTEMPTING TO TAKE A HILL, HILL 543, AND THE LEADER OF HIS PLATOON WAS WOUNDED. WHEREAS CHARLESTON TOOK COMMAND AND REGROUPED HIS MEN AND LED AN ASSAULT ON THE HILL. WHEREAS HE SINGLE-HANDEDLY ATTACKED AND DISABLED THE LAST REMAINING ENEMY GUN ENCAMPMENTS. WHEREAS HE SUBSEQUENTLY DIED FROM HIS WOUNDS INFLICTED BY A GRENADE. BUT HE IS CREDITED WITH SAVING MUCH OF HIS PLATOON. WHEREAS CORNELIUS CHARLESTON, A BLACK MAN, POSTHUMOUSLY, RECEIVED THE MEDAL OF HONOR FOR HIS ACTIONS NEAR CHIPPEWA, SOUTH KOREA. WHEREAS AFRICAN-AMERICANS LITERALLY FOUGHT FOR THE RIGHT TO DIE IN DEFENSE OF THEIR COUNTRY. WHEREAS IN THE FACE OF INJUSTICES, MANY AFRICAN-AMERICANS DISTINGUISHED THEMSELVES WITH THEIR COMMITMENT TO THE NOBLE IDEALS UPON WHICH THE UNITED STATES WAS FOUNDED AND COURAGEOUSLY FOUGHT FOR THE RIGHTS AND THE FREEDOM OF ALL AMERICANS. . WHEREAS THE PRESERVATION AND TEACHING BLACK HISTORY ARE NATIONALLY RECOGNIZED DUE TO THE EFFORTS OF CARTER G. WOODSON AND HIS ESTABLISHMENT OF NEGRO HISTORY WEEK, THE PRECURSOR OF BLACK HISTORY MONTH. WHEREAS BLACK HISTORY MONTH WHICH REPRESENTS DR. CARTER G. WOODSON'S EFFORTS TO ENHANCE KNOWLEDGE OF BLACK HISTORY, STARTED THROUGH THE "JOURNAL OF NEGRO HISTORY," PUBLISHED BY WOODSON'S ASSOCIATION FOR THE STUDY OF AFRICAN-AMERICAN LIFE AND HISTORY, AND WHEREAS THE MONTH OF FEBRUARY IS OFFICIALLY CELEBRATED AS BLACK HISTORY MONTH, WHICH DATES BACK TO 1926, WHEN DR. CARTER G. WOODSON SET ASIDE A SPECIAL PERIOD OF TIME IN FEBRUARY TO RECOGNIZE THE HERITAGE AND ACHIEVEMENTS OF BLACK AMERICANS. NOW THEREFORE BE IT RESOLVED THAT THE HOUSE OF REPRESENTATIVES, RECOGNIZES THE SIGNIFICANCE OF BLACK HISTORY MONTH AS AN IMPORTANT TIME TO ACKNOWLEDGE AND CELEBRATE THE CONTRIBUTIONS OF AFRICAN-AMERICANS IN THE NATION'S HISTORY AND TO ENCOURAGE THE CONTINUED CELEBRATION OF THIS MONTH TO PROVIDE AN OPPORTUNITY FOR ALL PEOPLES OF THE UNITED STATES, REGARDLESS OF WHERE THEY ARE FROM, TO LEARN MORE ABOUT THE PAST AND TO BETTER UNDERSTAND THE EXPERIENCES THAT HAVE SHAPED THE NATION. WHEREAS THE HOUSE OF REPRESENTATIVES RECOGNIZES THAT ETHNIC AND RACIAL DIVERSITY OF THE UNITED STATES ENRICHES AND STRENGTHENS THE NATION AND ENCOURAGES ALL STATES TO INCLUDE IN THEIR YEAR-ROUND EDUCATIONAL CURRICULUM THE HISTORY AND CONTRIBUTIONS OF AFRICAN-AMERICANS IN THE UNITED STATES AND AROUND THE WORLD. MR. SPEAKER, I AM HONORED TO SAY TO THIS AUDIENCE THAT THIS CONGRESS HAS BEEN VERY RESPONSIVE TO THE NOTION OF CELEBRATING AFRICAN-AMERICAN HISTORY. AND MY HOPE IS THAT ONCE WE ARE BACK IN THE BUSINESS OF APPROVING RESOLUTIONS OF THIS TYPE THAT THIS RESOLUTION WILL BE TAKEN UP BY THE CONGRESS OF THE UNITED STATES OF AMERICA, THAT IT WILL BE VOTED ON, AND THAT IT WILL BE PASSED AND MY HOPE IS THAT THIS WILL BE AN INDICATION TO OUR COUNTRY THAT OUR CONGRESS DOES TRULY APPRECIATE WHAT THE AFRICAN-AMERICANS HAVE DONE TO MAKE AMERICA THE BEAUTIFUL A MORE BEAUTIFUL AMERICA. WITH THAT SAID, I YIELD BACK THE BALANCE OF MY TIME.

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                        • 06:18:10 PM

                          THE SPEAKER PRO TEMPORE

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

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

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                        • 06:20:00 PM

                          MR. GREEN

                          I MOVE THAT THE HOUSE ADJOURN.

                        • 06:20:00 PM

                          Mr. Green, Al moved that the House do now adjourn.

                          • 06:20:02 PM

                            THE SPEAKER PRO TEMPORE

                            ADJOURN.

                      • 06:20:08 PM

                        On motion to adjourn Agreed to by voice vote.

                        • 06:20:09 PM

                          Adjourned

                          The House adjourned pursuant to a previous special order. The next meeting is scheduled for 9:00 a.m. on February 15, 2018.

                          • 10:00:30 AM

                            >>

                          • 10:00:32 AM

                            HOST

                          • 10:00:35 AM

                            MPORE PURSUANT

                            PURSUANT TO THE ORDER OF THE HOUSE OF JANUARY 8, 2018, THE CHAIR WILL NOW…

                            PURSUANT TO THE ORDER OF THE HOUSE OF JANUARY 8, 2018, 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. ALL TIME SHALL BE EQUALLY ALLOCATED BETWEEN THE PARTIES AND IN NO EVENT SHALL DEBATE CONTINUE BEYOND 11:50 A.M. EACH MEMBER OTHER THAN THE MAJORITY AND MINORITY LEADERS AND MINORITY WHIP SHALL BE LIMITED TO FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM NORTH CAROLINA, MS. FOXX, FOR FIVE MINUTES.

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                          • 10:01:05 AM

                            MS. FOXX

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, NEW BOY SCOUTS MAKE A PROMISE TO DO…

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, NEW BOY SCOUTS MAKE A PROMISE TO DO THEIR BEST, TO DO THEIR DUTY TO GOD AND COUNTRY AND TO HELP OTHER PEOPLE AT ALL TIMES. MR. LEWIS WOOD OF STOKES COUNTY, NORTH CAROLINA, HAS NOT ONLY FULFILLED THAT PROMISE, HE HAS LIVED IT TO THE FULLEST. MR. WOOD JOINED THE BOY SCOUTS OF AMERICA IN JANUARY, 1943. LATER HE SERVED AS A VOLUNTEER AND SCOUTMASTER FOR TROOP 440 FOR 50 YEARS. WHEN MR. WOOD AND HIS FAMILY WERE RECENTLY INFORMED OF HIS PANCREATIC CANCER DIAGNOSIS, HE WAS FOCUSED ON LIVING UNTIL THIS JANUARY, THE 75TH ANNIVERSARY OF HIS BECOMING A SCOUT. WHAT AN ADMIRABLE SPIRIT AND WONDERFUL MAN. AFTER A LIFETIME OF SERVICE, MR. WOOD IS NOW PREPARING FOR HIS NEXT JOURNEY, MR. SPEAKER. I COMMEND MR. WOOD FOR HIS 75 YEARS OF DEDICATION TO THE BOY SCOUTS AND STOKES COUNTY. AND I YIELD BACK.

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                          • 10:02:23 AM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM NEW YORK,…

                            THE GENTLEWOMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM NEW YORK, MR. ESPAILLAT, FOR FIVE MINUTES.

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                          • 10:02:32 AM

                            MR. ESPAILLAT

                            THANK YOU, MR. SPEAKER. I RISE TODAY TO EXPRESS MY CONCERNS AND MY DEEP…

                            THANK YOU, MR. SPEAKER. I RISE TODAY TO EXPRESS MY CONCERNS AND MY DEEP SHAME FOR MANY IN THIS CHAMBER WHO CONTINUE TO GAMBLE WITH THE LIVES OF OVER 800,000 DREAMERS. YOUNG PEOPLE THAT ARE WORKERS, STUDENTS, THEY ARE TEACHERS, MEMBERS OF OUR ARMED FORCES. THEY ARE DADS, MOMS. AND AFTER FIVE CONTINUING RESOLUTIONS, WE STILL HAVE LEFT THEM OUT IN THE COLD. OVER 800,000 OF THEM. THIS WEEK THE SENATE IS ONCE AGAIN SANDBAGGING THE DREAMERS WHILE SENATOR MCCONNELL HAS PUBLICLY MADE THIS AN OPEN DEBATE, IT IS FAR FROM BEING A FAIR PROCESS. JUST AS YESTERDAY A FEDERAL JUDGE IN THE EASTERN DISTRICT OF NEW YORK RULED CONCLUSIVELY THAT ELIMINATING DACA AND THE BENEFITS EXTENDED TO DACA RECIPIENTS IS AN ILLEGAL ACT. JUST AS THIS IS HAPPENING THE SENATE CONTINUES AND BEGINS TO SANDBAG THE DREAMERS BY FIRST PUTTING ON THE TABLE THE ISSUE OF SANCTUARY CITIES. AND MANY HAVE A FLAWED VIEW OF WHAT SANCTUARY CITIES ARE. MANY ERRONEOUSLY THINK THAT CITIES HARBOR HARDENED CRIMINALS. THAT IS FAR FROM THE TRUTH. A SANCTUARY CITY IS A CITY THAT ALLOWS A MOM TO TAKE HER CHILD TO SCHOOL WHO IS UNDOCUMENTED WITHOUT FEAR THAT THE PRINCIPAL WILL CALL I.C.E. OR THE AUTHORITY. A SANCTUARY CITY IS A CITY THAT ALLOWS A SENIOR CITIZEN TO GO INTO AN EMERGENCY ROOM TO BE TREATED IN A HOSPITAL WITHOUT THE FEAR THAT THE NURSE WILL TURN HIM OR HER IN. A SANCTUARY CITY IS A CITY THAT ALLOWS PEOPLE THAT ARE LIVING UNDER THE SHADOWS TO GO INTO A POLICE PRECINCT AND REPORT A CRIME WITHOUT THE FEAR THAT THEY WILL BE DEPORTED. THAT'S WHAT A SANCTUARY CITY IS. IT IS AN INTRICATE PART OF OUR SOUL AS A COUNTRY OF IMMIGRANTS AND STATES AND CITIES OF IMMIGRANTS. THE SENATE PROCESS IS FAR FROM BEING FAIR. A FAIR PROCESS WOULD BE TO STARTS A BIPARTISAN DEBATE ON DREAMERS. AND IN THIS CHAMBER, THE SPEAKER OF THIS CHAMBER HAS YET TO MAKE A COMMITMENT TO BRING A CLEAN DREAM ACT TO THE FLOOR. DREAMERS ARE OUR CHILDREN. THEY ARE MY CHILDREN. THEY ARE -- THEY BELONG TO ALL OF US. WHEN WE LOOK INTO THEIR FACES, I SEE MY OWN FACE. WHEN I LOOK INTO THEIR FACES, I SEE A MCCARTHY FELLOW WINNER LIKE CHRISTINA JIMINEZ. AND ONE WHO IS WORKING TOWARDS BECOMING A DOCTOR IN THE MILITARY. THERE IS SO MUCH ASPIRATION IN THESE DREAMERS. THIS IS WHY OVER 80% OF AMERICANS IN RED STATES AND BLUE STATES, IN REPUBLICAN DISTRICTS AND IN DEMOCRATIC DISTRICTS, SUPPORT DREAMERS STAYING HERE IN THE UNITED STATES. THEY REPRESENT THE BEST OF US. THEY REPRESENT THE FOUNDATION OF OUR NATION. THE TENMENTS OF WHAT THE FOUNDING FATHERS BELIEVED IN THAT PEOPLE SHOULD COME TO AMERICA, PROSPER, AND MAKE IT A BETTER PLACE FOR ALL OF US TO LIVE IN. MR. SPEAKER, THE FATE OF THESE YOUNG PEOPLE RESTS RIGHT HERE IN THE PALM OF OUR HANDS. WE NEED TO ASK OURSELVES, ARE WE A NATION OF ASPIRATIONS OR ARE WE A NATION OF DEPORTATIONS? IT IS IN OUR HANDS. WE CAN CANNOT KEEP DEFERRING A VOTE ON A CLEAN DREAM ACT. A DEFERRED VOTE IS A DREAM DENIED. JUSTICE DELAYED IS JUSTICE DENIED. BUT I TELL THE DREAMERS THIS, DON'T BE AFRAID. DON'T BE DISCOURAGED. DON'T BE DETERRED. DON'T DISMAY. YOU HAVE CONTINUED TO FIGHT FOR WHAT IS THE MOST IMPORTANT ISSUES FACING AMERICA. YOU HAVE DONE A TREMENDOUS JOB. KEEP THIS FIGHT MOVING FORWARD FOR JUSTICE IN AMERICA. MR. SPEAKER, THANK YOU. I YIELD BACK THE BALANCE OF MY TIME.

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                          • 10:07:24 AM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM FLORIDA,…

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEWOMAN FROM FLORIDA, MS. ROS-LEHTINEN, FOR FIVE MINUTES.

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                          • 10:07:32 AM

                            MS. ROS-LEHTINEN

                            MR. SPEAKER, I RISE TO COMMEMORATE THE 22ND ANNIVERSARY OF THE BROTHERS TO…

                            MR. SPEAKER, I RISE TO COMMEMORATE THE 22ND ANNIVERSARY OF THE BROTHERS TO THE RESCUE SHOOT DOWN WHERE THREE U.S. CITIZENS AND ONE U.S. RESIDENT WERE MURDERED BY THE TYRANNICAL CASTRO REGIME. ON FEBRUARY 24, 1996, CARLOS KOSTA, MARIO DE LA PENA, ARMANDO, AND PABLO WERE ON A HUMANITARIAN MISSION OVER INTERNATIONAL AIRSPACE OVER INTERNATIONAL WATERS WHEN THEY WERE ILLEGALLY AND BRUTALLY SHOT DOWN. THE MISSION OVER THE FLORIDA STRAITS SOUGHT TO SAVE THE LIVES OF CUBANS FLEEING CASTRO'S GRIP OF POWER IN SEARCH OF FREEDOM. ONE WAS RESCUED IN A SESS MA AND -- CESSNA AND BROUGHT TO THE SAFETY OF OUR SHORES. SYLVIA WAS ONBOARD THE ONLY PLANE THAT SURVIVED. SHE RECOUNTS HOW SEEING THE BURST OF SMOKE OVER THE SKY LINE, THE PILOT, WHO ALONG WITH SYLVIA, HAS TESTIFIED BEFORE THE U.S. CONGRESS, PLEADED ON THE RADIO FOR HIS COLLEAGUES TO RESPOND. 22 YEARS HAVE PASSED BUT JUSTICE FOR THE DEATHS OF OUR AMERICAN HEROES HAS YET TO BE ACHIEVED. THEY HAVE ALL BEEN INDICTED IN OUR U.S. COURTS FOR THEIR ROLES IN THE MURDERS BROTHERS TO THE RESCUE SHOOT DOWN BUT THEY HAVE YET TO BE HELD ACCOUNTABLE. I HAVE URGED ADMINISTRATIONS AFTER ADMINISTRATION TO BRING THESE PERPETRATORS TO THE UNITED STATES SO THAT THEY CAN BE PROSECUTED AND JUSTICE CAN BE SERVED. FURTHERMORE, THE OBAMA ADMINISTRATION MADE THE GRAVE ERROR OF RELEASING CUBAN SPY HER REGARDO HERNANDEZ, WHO WAS CONVICTED OF CONSPIRACY TO COMMIT ESPIONAGE AND CONSPIRACY TO COMMIT MURDER FOR HIS ROLE IN THE DEATHS OF THESE BRAVE PILOTS. RELEASED. I WILL CONTINUE TO URGE OUR DEPARTMENT OF JUSTICE TO PURSUE LEGAL ACTION AGAINST ALL CURRENT AND FORMER CUBAN REGIME OPERATIVES WHO PERPETRATED THAT MURDEROUS ATTACK AGAINST THE BROTHERS TO THE RESCUE AIRCRAFT AND ITS UNARMED VICTIMS. AND ALL CUBAN OPERATIVES WHO PLANNED OR OTHERWISE PARTICIPATED IN THE SHOOTDOWN. TO THIS DAY THAT SAME REGIME THAT VIOLATED INTERNATIONAL LAW, THAT KILLED CARLOS, MARIO, AN PABLO REMAINS AS OPPRESSIVE AS EVER, ROUTINELY BEATING AND HARASSING PEACEFUL PROTESTORS AND INCARCERATING JOURNALISTS. WE CANNOT LET ANYONE FORGET THE BLOOD AT THE HANDS OF THE CASTRO REGIME REMAINS. THE BROTHERS TO THE RESCUE AND THEIR FAMILIES WILL FOREVER SERVE AS AN INSPIRATION FOR THOSE WHO ARE WILLING TO ENDURE GREAT SACRIFICES FOR THE SAKE OF A FREE CUBA. MR. SPEAKER, I WOULD LIKE TO CONGRATULATE THE RECIPIENTS OF THE 2018 TORCH AWARDS FROM MY ALMA MATER, FLORIDA INTERNATIONAL UNIVERSITY. THE TORCH AWARD IS THE HIGHEST HONOR GIVEN TO BOTH FACULTY AND ALUMNI BY THE F.I.U. ALUMNI ASSOCIATION, HIGHLIGHTING THE EXCELLENCE THEY BRING TO THEIR PROFESSIONS AND THE PRIDE THEY BRING TO F.I.U. AS AN EDUCATIONAL INSTITUTION. THEIR EXCEPTIONAL ACHIEVEMENTS AND CONTRIBUTIONS NOT ONLY TO OUR UNIVERSITY BUT TO OUR MIAMI COMMUNITY AT LARGE HAVE EARNED THEM THIS PRESTIGIOUS AWARD. THIS YEAR'S HONOREES INCLUDE ALUMNUS OF THE YEAR, CHAD MOSS, CLASS OF 1994. CHAD CURRENTLY SERVES AS EXECUTIVE VICE PRESIDENT OF MOSS AND ASSOCIATES, ONE OF FLORIDA'S LARGEST PRIVATE CONSTRUCTION COMPANIES. OUTSTANDING FACULTY AWARD RECIPIENT, DR. MARK ALLEN WISE. HE'S AN IMMINENT SCHOLAR, PROFESSOR, AND ASSOCIATE DIRECTOR OF ACADEMIC AFFAIRS FOR THE F.I.U. SCHOOL OF COMPUTING AND INFORMATIONAL SCIENCES. COMMUNITY LEADERSHIP AWARD RECIPIENTS, SETH OF THE CLASS OF 1998. SETH IS A PEDIATRIC RADIOLOGIST AND HAS DEMONSTRATED EXEMPLARY SERVICE AND CIVIC ENGAGEMENT IN HIS COMMUNITY THROUGH HIS ACTIVISM T. ROY JEFFERSON MEDICAL SOCIETY, AND A TWO-TIME CHAIR OF THE GROUP'S ANNUAL HEALTH FAIR WHICH HAS BEEN FITTED THOUSANDS OF UNDERSERVED CHILDREN IN PALM BEACH. LASTLY, THE CHARLES PERRY YOUNG ALUMNI VISIONARY AWARD RECIPIENT, MANNY VARAS, CLASS OF 2010 AND M.B.A. IN 2014. MANNY, THE PRESIDENT AND C.E.O. OF M.V. GROUP IS A FULL SERVICE CONSTRUCTION COMPANY AND HAS MADE GREAT STRIDES IN THE EARLY STAGES OF HIS CAREER. THESE INDIVIDUALS, MR. SPEAKER, AND MANY OTHER DISTINGUISHED ALUMNI HONORED THIS YEAR EXEMPLIFY WHAT IT MEANS TO BE AN F.I.U. PANTHER. THEIR SERVICE TO THE BETTERMENT OF OUR COMMUNITY MAKES THEM INVALUABLE AND DESERVING OF THIS GREAT AWARD. I CONGRATULATE THEM ALL AND GO, PANTHERS. THANK YOU, MR. SPEAKER.

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                          • 10:12:57 AM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA,…

                            THE GENTLELADY YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM CALIFORNIA, MR. RUIZ, FOR FIVE MINUTES.

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                          • 10:13:05 AM

                            MR. RUIZ

                            TODAY'S VALENTINE'S DAY. CHILDREN WILL PASS AROUND CARDS AND CANDY AT…

                            TODAY'S VALENTINE'S DAY. CHILDREN WILL PASS AROUND CARDS AND CANDY AT SCHOOL. YOUNG MEN AND WOMEN WILL GATHER THE COURAGE TO SPEAK TO THEIR CRUSH. AND MANY COUPLES WILL GET ENGAGED TO MARRY. I SENT MY FIRST VALENTINE, MY MOTHER, FLOWERS, AND I WILL SPEND THIS EVENING TELLING MY WIFE, MONICA, AND MY GIRLS SKY AND SAGE, THE MANY WAYS THAT I LOVE AND APPRECIATE THEM OVER FACE TIME. BUT FOR MANY, TODAY IS NOT A JOYOUS DAY. THERE ARE TOO MANY VICTIMS OF DOMESTIC ABUSE WHO LIVE IN HOMES OF BROKEN HEARTS AND WHO SEARCH FOR LOVE BUT FIND VIOLENCE INSTEAD. NO FORM OF MENTAL, EMOTIONAL, SEXUAL, FOR PHYSICAL ABUSE IS ACCEPTABLE NO MATTER WHO IT'S FROM OR UNDER ANY CIRCUMSTANCES, PERIOD. TO THE MANY ORGANIZATIONS LIKE SHELTER FROM THE STORM, COACHELLA VALLEY RESCUE MISSION, AND OTHERS IN MY DISTRICT, THANK YOU FOR THE REFUGE AND SUPPORT THAT YOU PROVIDE. AND TO THE VICTIMS, I WANT YOU TO KNOW THAT YOU ARE NOT BROKEN. YOU ARE NOT AT FAULT. YOU ARE A SURVIVOR AND YOU HAVE THE COURAGE. HELP IS ONLY ONE PHONE CALL AWAY. HAPPY VALENTINE'S DAY.

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                          • 10:14:38 AM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ALABAMA, MR.…

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ALABAMA, MR. BROOKS, FOR FIVE MINUTES.

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                          • 10:14:57 AM

                            BROOKS MR.

                            MR. SPEAKER, AMERICA CANNOT AFFORD TO BE THE WORLD'S ORPHANAGE BECAUSE WE…

                            MR. SPEAKER, AMERICA CANNOT AFFORD TO BE THE WORLD'S ORPHANAGE BECAUSE WE SIMPLY DO NOT HAVE THE MONEY. AMERICA'S O2015 DEFICIT WAS $ 438 BILLION. AMERICA'S 2016 DEFICIT DETERIORATED TO $585 BILLION. AMERICA'S 2017 DEFICIT DETERIORATED YET AGAIN TO $666 BILLION. NOW, THANKS TO LAST WEEK'S DEBT JUNKY SPENDING BILL, AMERICA FACES $1 TRILLION DEFICIT THIS YEAR. BY EVERY ACCOUNT, AMERICA'S DEFICIT THREATENS A DANGEROUS INSOLVENCY AND BANKRUPTCY THAT WILL DESTROY THE AMERICA IT TOOK OUR ANCESTORS CENTURIES TO BUILD. LET THERE BE NO MISTAKE ABOUT IT, ILLEGAL ALIENS ARE A LARGE PART OF AMERICA'S DEBT PROBLEM. PER A RECENT STUDY, ILLEGAL ALIENS ARE $116 BILLION PER YEAR NET TAX LOSS TO AMERICAN TAXPAYERS. MR. SPEAKER, THOSE WHO DO NOT LEARN FROM HISTORY ARE DOOMED TO REPEAT IT. AMERICA TRIED AMNESTY IN 1986 AND IT FAILED MISERABLY. TURNING A 1.2 MILLION ILLEGAL PROBLEM INTO A 15 MILLION ILLEGAL ALIEN DISASTER. WHY? AMNESTY DOESN'T STOP ILLEGAL CONDUCT. IT ENCOURAGES IT. IT BAFFLES ME THAT THE WASHINGTON SURRENDER CAUCUS REFUSES TO LEARN FROM HISTORY AND ANXIOUSLY SEEKS TO REPEAT 1986'S BAD MISTAKE AT GREAT COSTS TO AMERICA. AND THE COST IS GREAT. A 2015 CENTER FOR IMMIGRATION STUDIES REPORT DISCLOSED THAT MORE THAN 60% OF HOUSEHOLDS THAT HAVE AN ILLEGAL ALIEN IN THEM ARE ON WELFARE. COMPARED TO ONLY 30% OF HOUSEHOLDS WITH NO IMMIGRANTS IN THEM. CONSISTENT WITH THAT DATA, THE CONGRESSIONAL BUDGET OFFICE DETERMINED THAT THE DEMOCRATS' DREAM ACT THAT GIVES AMNESTY TO ILLEGAL ALIENS AND DEMOCRATS RECENTLY SHUT DOWN THE GOVERNMENT OVER COST FEDERAL TAXPAYERS $26 BILLION, AND THAT $26 BILLION NET TAX LOSS TO FEDERAL TAXPAYERS DOES NOT INCLUDE EVEN LARGER STATE AND LOCAL TAX LOSSES. BY ANY MEASURE, ANY AMNESTY, INCLUDING AMNESTY FOR DACA ILLEGAL ALIENS MAKES THE ILLEGAL ALIEN PROBLEM WORSE AND OVER THE LONG HAUL COSTS AMERICAN TAXPAYERS HUNDREDS OF BILLIONS OF DOLLARS AMERICA DOES NOT HAVE, HAS TO BORROW TO GET, AND CANNOT AFFORD TO PAY BACK. OF COURSE, THE LEFTIST MAINSTREAM MEDIA RARELY SHARES THESE FACTS WITH AMERICANS BECAUSE IT UNDERMINES THEIR FAKE NEWS NARRATIVE THAT DREAMER AMNESTY PAYS FOR ITSELF. MR. SPEAKER, THE EXECUTIVE BRANCH MUST DO ITS JOB. THE EXECUTIVE BRANCH MUST CATCH AND EVICT ILLEGAL ALIENS. IT IS THAT SIMPLE. FURTHER, THE EXECUTIVE BRANCH MUST ENFORCE SECTION 212 OF THE IMMIGRATION AND NATIONALITY ACT, WHICH STATES THAT NO PERSON MAY SEEK ADMISSION TO THE UNITED STATES OR BECOME A PERMANENT RESIDENT IF THE INDIVIDUAL, QUOTE, AT THE TIME OF APPLICATION FOR ADMISSION OR ADJUSTMENT OF STATUS IS LIKELIED A ANY TIME TO BECOME A PUBLIC CHARGE, END QUOTE. IF THE EXECUTIVE BRANCH WILL SIMPLY ENFORCE AMERICA'S IMMIGRATION LAWS, THERE WILL BE NO ILLEGAL ALIEN PROBLEM AND TAXPAYERS WILL OVER THE LONG HAUL SAVE HUNDREDS OF BILLIONS OF DOLLARS THAT COULD BE BETTER SPENT ON DEBT REDUCTION OR AMERICAN CITIZENS. UNFORTUNATELY, INSTEAD OF INSISTING THAT THE EXECUTIVE BRANCH ENFORCE THE LAW, WASHINGTON'S SURRENDER CAUCUS WANTS TO GIVE UP AND GRANT AMNESTY TO ILLEGAL ALIENS THEREBY AGAIN NAIVELY REWARDING ILLEGAL CONDUCT AT GREAT COSTS TO AMERICAN TAXPAYERS. IN SO DOING, WASHINGTON'S SURRENDER CAUCUS BETRAYS AMERICAN FAMILIES AND TAXPAYERS WHO MUST FOOT THE BILL FOR YET ANOTHER BAD MISTAKE BY WASHINGTON THAT'S MOTIVATED BY ELECTION EAR POLITICS, NOT -- ELECTIONEER POLITICS, NOT AMERICA'S BEST INTEREST.

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                          • 10:19:53 AM

                            THE SPEAKER PRO TEMPORE

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

                            THE GENTLEMAN YIELDS BACK. THE CHAIR RECOGNIZES THE GENTLEMAN FROM TEXAS, MR. GREEN, FOR FIVE MINUTES.

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                          • 10:19:57 AM

                            MR. GREEN

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, I'M ALWAYS HONORED TO STAND IN THE…

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, I'M ALWAYS HONORED TO STAND IN THE WELL OF THE HOUSE. MR. SPEAKER, TODAY I RISE AS A LIBERATED DEMOCRAT, A LIBERATED DEMOCRAT WHO WILL NOT ONLY SPEAK TO TRUTH TO POWER BUT WHO WILL ALSO SPEAK TRUTH ABOUT POWER. MR. SPEAKER, I RISE TODAY TO DEHE FEND FREEDOM OF SPEECH. I RISE TODAY TO DEFEND THE FREEDOM OF SPEECH OF "THE HILL" NEWSPAPER. I DEFEND THE FREEDOM OF SPEECH OF "THE HILL" WHEN IT PRINTED THESE WORDS. IT READS, "MORNING JOE" HOST -- I WON'T MENTION HIS NAME -- SAID ON SUNDAY THAT THE DEMOCRATIC PARTY SHOULD TAKE AWAY FUNDING FROM DEMOCRATIC CANDIDATES WHO TALK ABOUT IMPEACHING PRESIDENT TRUMP ON THE CAMPAIGN TRAIL. I AM SUCH A CANDIDATE. I HAVE TALKED ABOUT IMPEACHING THE PRESIDENT, AND I WILL CONTINUE TALKING ABOUT IMPEACHING THE PRESIDENT. AND "THE HILL" GOES ON TO SAY -- AND I AM DEFENDING IT -- ANY DEMOCRAT WHO MENTIONS THE WORD IMPEACHMENT ON THE CAMPAIGN TRAIL SHOULD HAVE THEIR FUNDS PULLED BY THE DEMOCRATIC PARTY. THIS IS WHAT WAS TWEETED BY "MORNING JOE" HOST. I DEFEND "THE HILL" THEIR RIGHT TO PRINT IT AND I WILL DEFEND "MORNING JOE" HOST SAYING WHAT HE SAID. I WILL NOT BE INTIMIDATED. I WANT THE HOST TO KNOW, THOSE WHO THREATENED MY LIFE COULDN'T INTIMIDATE ME HE WILL NOT. I WANT THE HOST TO KNOW THAT I SPOKE ABOUT IMPEACHMENT JUST THIS WEEKEND THAT PAST AND I AM LOOKING TO FUTURE ENGAGEMENTS TO SPEAK ABOUT IMPEACHMENT AND I WILL BRING ARTICLES OF IMPEACHMENT TO THE FLOOR OF THE HOUSE OF REPRESENTATIVES AGAIN IF CONDITIONS REQUIRE IT. I AM NOT AFRAID. I HAVE NO FEAR OF THESE PEOPLE WHO WOULD HAVE ME BE ARY GAIT MY CONSTITUTIONAL RIGHTS -- ABRIGATE MY CONSTITUTIONAL RIGHTS. I WILL EXERCISE MY RIGHTS. THE TRUTH IS THIS -- WE ALL HAVE A DUTY TO SPEAK UP AND SPEAK OUT AND STAND UP. THAT'S WHAT I WILL DO. GOD BLESS YOU AND HAPPY VALENTINE'S DAY.

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                          • 10:22:29 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 PENNSYLVANIA, MR. FITZPATRICK, FOR FIVE MINUTES.

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                          • 10:22:34 AM

                            MR. FITZPATRICK

                            MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE BIG BROTHERS AND BIG SISTERS OF…

                            MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE BIG BROTHERS AND BIG SISTERS OF BUCKS COUNTY WHICH HAS SERVED TENS OF THOUSANDS OF KIDS IN OUR COMMUNITY SINCE ITS FOUNDING IN 1963. THE BUCKS COUNTY CHAPTER IS UNIQUE. SINCE 2015, THEY HAVE PILOTED AN EXPANSION OF THEIR MENTORSHIP PROGRAM WHICH PAIRS ELEMENTARY SCHOOL WITH HIGH SCHOOL MENTORS TO INCLUDE CHILDREN WITH AUTISM SPECTRUM DISORDER. THIS TAILORED PROGRAM CATERS TO THE STUDENTS' UNIQUE NEEDS. PROVIDING THESE CHILDREN WITH SPECIALLY TRAINED HIGH SCHOOL MENTORS RATHER THAN ONE. THE PROGRAM HAS BEEN SO SPECIFICALLY THAT BIG BROTHERS BIG SISTERS OF BUCKS COUNTY IS NOW LOOKING TO EXPAND IT. THEIR COMMUNITY MENTORSHIP PROGRAM MATCHES AT AN RISK YOUTH AGES 6 TO 16 WITH VOLUNTEER MENTORS. THIS PROGRAM PROVIDES CARING ADULT ROLE MODELS WHO CONSISTENTLY SPEND TIME WITH THEIR LITTLES TO HELP THEM MAKE GOOD CHOICES SO THEY MAY BECOME PRODUCTIVE, RESPONSIBLE, AND ENGAGED YOUNG ADULTS. I WANT TO HIGHLIGHT THE STORY OF JOHN WILSON, THE BOARD PRESIDENT, AN INDIVIDUAL WHO HIMSELF BENEFITED FROM BIG BROTHERS BIG SISTERS. JOHN'S FATHER PASSED AWAY WHEN HE WAS 5. HE WAS MATCHED WITH A BIG BROTHER WHEN HE WAS 12. AT A POINT WHEN IN HIS OWN WORDS HE WAS AT A SIGNIFICANT RISK OF HEADING IN THE WRONG DIRECTION. HE CREDITS HIS MENTOR HAVING A PROFOUND IMPACT ON HIS LIFE WITHOUT WHOM HIS LIFE COULD HAVE TURNED OUT VERY DIFFERENTLY, IN JOHN'S WORDS. HE GRADUATED COLLEGE, ENJOYS A SUCCESSFUL CAREER AND NOW GIVES BACK TO THE BOARD. JOHN IS STILL IN CONTACT WITH HIS BIG BROTHER AND WORKING HARD TO PAY BACK THE INVESTMENT MADE IN HIM YEARS AGO. TO ALL THOSE INVOLVED IN BIG BROTHERS AND BIG SISTERS, INCLUDING JOHN, WE THANK YOU FOR YOUR WORK IN HELPING OUR YOUTH IN BUCKS COUNTY. MR. SPEAKER, GROWING UP IN MIDDLETOWNSHIP IN BUCKS COUNTY, PENNSYLVANIA, AND AS A CURRENT RESIDENT, NOW REPRESENTING MY HOMETOWN IN CONGRESS, I'VE SEEN MY COMMUNITY CHANGE THROUGHOUT THE YEARS. THE ONE CONSTANT, HOWEVER, HAS ALWAYS BEEN THE PRESENCE OF STONE MEADOWS FARM. ONE OF THE LAST REMAINING ACTIVE AGRICULTURAL LANDS IN OUR TOWNSHIP. THE 168-ACRE FARM HAS A RICH HISTORY THAT CONNECTS THE PRESENT TO THE PAST. AS DEVELOPMENT CONTINUES THROUGHOUT OUR REGION, STONE MEADOWS FARM REMINDS RESIDENTS WHY WE CHOSE TO LIVE IN MIDDLETOWN TOWNSHIP, PENNSYLVANIA. I FIRMLY BELIEVE THIS IS SOMETHING WORTH PRESERVING. IN BUCKS COUNTY WE ARE FORTUNATE OUR LOCAL AND COUNTY LEADERS CONTINUE TO MAKE CONCERTED EFFORTS TO PRESERVE OUR OPEN SPACES AND HERE IN CONGRESS, I AM WORKING TO SUPPORT PRESERVATION AND LAND CONSERVATION EFFORTS NATIONWIDE. I STAND READY TO WORK WITH ANY GOVERNMENT OFFICIAL AND OUR CITIZENS LIKE MEMBERS OF THE SAVE STONE MEADOWS FARM MOVEMENT WHO SHARE THIS GOAL TO PRESERVE OUR QUALITY OF LIFE AND THE CHARACTER OF OUR COMMUNITY. WHETHER IN OUR HOMETOWN OR ACROSS OUR GREAT NATION, WE MUST STAND READY TO PRESERVE AND PROTECT OUR OPEN SPACES FROM OVERDEVELOPMENT. WITH THAT, MR. SPEAKER, I YIELD BACK.

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                          • 10:26:09 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 PENNSYLVANIA, MR. THOMPSON, FOR FIVE MINUTES.

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                          • 10:26:16 AM

                            MR. THOMPSON

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, YESTERDAY MORNING I HAD THE…

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, YESTERDAY MORNING I HAD THE OPPORTUNITY TO ATTEND PART OF FULTON BANKS 39TH ANNUAL AGRICULTURE SEMINAR WHICH IS A DAY-LONG INFORM MATIONAL EVENT. IT'S FREE AND FEATURES ECONOMISTS ANDREW FRANKENFIELD AND OTHER INDUSTRY EXPERTS. MR. SPEAKER, AS THE HOUSE AGRICULTURE COMMITTEE PREPARES THE NEXT FARM BILL, THERE'S BEEN UNIVERSAL AGREEMENT THAT THE DAIRY REGION'S MARGIN PROTECTION PROGRAM NEEDS TO BE REFORMED AND ADVANCED. TO ADDRESS THIS WE WERE ABLE TO MAKE MUCH-NEEDED CHANGES IN LAST WEEK'S BIPARTISAN BUDGET DEAL. THE FINAL AGREEMENT TOOK A NUMBER OF ANGSTS THAT WILL REVAMP THE PROGRAM TO BETTER PRESERVE PARTICIPATING DAIRY FARMERS. TO HELP THE PROGRAM TO BE MORE ACCURATE AND RESPONSIVE DURING DIFFICULT MONTHS, MONTHLY MARGIN CALCULATIONS HAVE BEEN CHANGED TO BIMONTHLY. TO HELP THE PROGRAM BETTER REFLECT THE GROWTH AND DAIRY HERD SIZES, THE NEW LAW EXPANDS THE FIRST TIER FROM FOUR MILLION TO FIVE MILLION POUNDS. IT RAISE THE CATASTROPHIC LEVEL OF $4 PER HUNDRED WEIGHT TO $5 PER HUNDRED WEIGHT. IT REDUCES PREMIUMS FOR THE FIRST FIVE MILLION POUNDS OF PRODUCTION MAKING HIGHER LEVELS OF PROTECTION MORE AFFORDABLE. THE NEW LAW ALLOWS FOR THE DEVELOPMENT OF INSURANCE POLICIES FOR LIVESTOCK PRODUCERS, INCLUDING FOR DAIRY FARMERS. THIS CHANGE ENCOURAGES FURTHER ADEQUATE RISK MANAGEMENT TOOLS ARE AVAILABLE THE NEXT TIME THEY ARE FACED WITH DISASTER. MR. SPEAKER, THE STATE OF THE DAIRY INDUSTRY IS MUCH DIFFERENT TODAY THAN IT WAS WHEN THE LAST FARM BILL WAS WRITTEN. TODAY WE SEE LOW MILK PRICES THAT HAVE IMPACTED THE DAIRY INDUSTRY ACROSS THE COUNTRY. THE AGRICULTURE COMMITTEE IS NOT ONLY AWARE OF THE CHALLENGES FACING IN THE INDUSTRY BUT WE ARE WORKING TO HELP BRING RELIEF. ANOTHER FACTOR NEGATIVELY IMPACTING THE DAIRY INDUSTRY IS DECLINING MILK CONSUMPTION. THIS NOT ONLY NEGATIVELY AFFECTS DAIRY FARMS AND FARM FAMILIES ACROSS THE COUNTRY BUT ALSO STUDENTS AND THEIR OVERALL NUTRITION. DESPITE THE FACT THAT PUBLIC SCHOOL ENROLLMENT WAS GROWING, SCHOOLS SERVED 213 FEWER HALF PINTS OF MILK BETWEEN 2014 AND 2016. CHILDREN OVER 4 YEARS OLD ARE NOT MEETING THE RECOMMENDED DAILY SERVINGS OF DAIRY IN THE DIETARY GUIDELINES IN AMERICA. WE KNOW MILK IS A NUTRITIONAL POWERHOUSE. GIVEN THE NUTRITIONAL VALUE OF MILK AND BECAUSE STUDENTS NEED TO BE NOURISHED TO BE AT THEIR BEST, THIS IS A CAUSE FOR CONCERN. STEADILY DECREASE IN PARTICIPATION IN THE SCHOOL LUNCH PROGRAM COUPLED WITH THE FACT FLAVORED MILK, MOST POPULAR VARIETY IN SCHOOLS, MUST BE FAT-FREE UNDER THE CURRENT LAW, HAS LED TO AN ALARMING DECLINE IN OVERALL MILK CONSUMPTION. WE LOST AN ENTIRE GENERATION OF MILK DRINKERS. THEY'VE LOST OUT THAT GENERATION ON THE NOURISHMENT, NUTRITION THAT COMES FROM MILK. PROVIDING STUDENTS THE OPTION TO CONSUME MILK WITH FLAVOR HAS THE POTENTIAL TO POSITIVELY AFFECT MILK CONSUMPTION TRENDS. AMONG CHILDREN AND ADULTS WHILE SUPPORTING THE LOCAL DAIRY FARMERS. THIS IS WHY I INTRODUCED H.R. 4101, THE SCHOOL MILK NUTRITION ACT. THIS BILL PROVIDES THE SCHOOLS THE OPTION OF OFFERING LOW FAT 1% FLAVOR MILK INSTEAD OF ONLY FAT-FREE. ON NOVEMBER 29, 2017, SECRETARY -- USDA SECRETARY ANNOUNCED A NEW RULE THAT EXPANDS OPTIONS FOR MILK IN SCHOOL LUNCHES. SIMILAR TO MY LEGISLATION, THIS RULE GIVES SCHOOLS THE OPTION TO SERVE LOW-FAT 1% FAVORED MILK. THANKFULLY THIS RULE WILL BE IN EFFECT FOR FISCAL YEAR 2018 AND FISCAL YEAR 2019. I LOOK FORWARD TO CONTINUING TO CRAFT A FARM BILL THAT PUTS FORTH THE VERY BEST POLICY FOR OUR FARMERS, OUR FAMILIES AND ALL AMERICANS AND I KNOW SECRETARY PURDUE SUPPORTS THE LEGISLATION, H.R. 4101, MOVING AHEAD TO CODIFY WHAT HE HAS BEEN ABLE TO DO WITH WHAT FLEXIBILITY HE HAS AND TO GET THAT DONE FOR OUR KIDS AND FOR THE DAIRY INDUSTRY. THANK YOU, MR. SPEAKER. AND I YIELD BACK THE BALANCE OF MY TIME. .

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                          • 10:30:36 AM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM MINNESOTA,…

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM MINNESOTA, MR. EMMER, FOR FIVE MINUTES.

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                          • 10:30:42 AM

                            MR. EMMER

                            MR. SPEAKER, I RISE TODAY TO REMEMBER THE LIFE OF SARA, A FRIEND WHO…

                            MR. SPEAKER, I RISE TODAY TO REMEMBER THE LIFE OF SARA, A FRIEND WHO PASSED AWAY UNEXPECTEDLY AND FAR TOO SOON. SARAH WAS ONE OF MINNESOTA'S BEST POLITICAL COMMENTATORS. AS A STRATEGIST SHE UNDERSTOOD ALL SIDES OF THE ISSUES AND BROUGHT HUMOR EVERYWHERE SHE WENT. OVER THE COURSE OF HER CAREER, SHE BUILT RELATIONSHIPS ACROSS THE POLITICAL SPECTRUM. SHE WAS KNOWN FOR LENDING HER HONESTY AND WIT TO EVERY ENCOUNTER. SHE COMMANDED RESPECT BY BECOMING A SOURCE OF POLITICAL KNOWLEDGE THROUGH HER WRITING, NEWSLETTERS, AND COMMENTARY. SHE WAS SOUGHT AFTER BY LOCAL AND NATIONAL MEDIA TO PROVIDE HER INSIGHTS ON MINNESOTA'S UNUSUAL POLITICS. OUR COMMUNITIES HAS SUFFERED -- COMMUNITY HAS SUFFERED A GREAT LOSS. HER BRIGHT SPIRIT WILL BE MISSED. MY DEEPEST CONDOLENCES GO OUT TO HER FAMILY AND LOVED ONES. SARAH HAD A GREAT HEART AND WE'LL ALL MISS HER. MR. SPEAKER, I RISE TODAY TO HONOR THE LEGACY OF WRIGHT COUNTY SHERIFF JOE HAG ARTY. HE RETIRES AFTER 33 HONORABLE YEARS OF SERVICE TO THE THIRD LARGEST SHERIFF'S OFFICE IN THE STATE OF MINNESOTA. HE HAS A REPUTATION FOR HONESTY AND HAS BECOME REPUTATION FOR HONESTY AND HAS BECOME SOMEONE WE ALL TRUST. OUR COMMUNITY HAS BEEN HONORED TO HAVE A PUBLIC SERVANT WITH JOE'S LEVEL OF INTEGRITY AND ACCOUNTABILITY. HIS RESPECT FOR THE RULE OF LAW AND COMPASSION FOR HIS FELLOW CITIZENS MADE HIM AN EXCEPTIONAL SHERIFF. DURING HIS TIME IN OFFICE, JOE FOSTERED A RELATIONSHIP WITH NEIGHBORING COUNTIES TO SHARE A CRIME LAB WHICH HELPED SOLVE CASES AND BRING JUSTICE. EVERY SINGLE DAY JOE PUT THE SAFETY OF MINNESOTANS ABOVE ALL ELSE. SHERIFF HAGGERTY, I SPEAK ON BEHALF OF ALL MINNESOTAN WHEN IS I SAY THANK YOU. WE WISH YOU A HAPPY AND HEALTHY AND WELL DESERVED RETIREMENT. MR. SPEAKER, I RISE TODAY TO RECOGNIZE AND THANK SHERIFF JIM OLSON FOR HIS INCREDIBLE 31 YEARS OF SERVICE TO THE PEOPLE OF MINNESOTA. IN JIM'S THREE PLUS DECADES ON THE FORCE, SHERIFF OLSON OVERSAW SOME OF CARVER COUNTY'S MOST EXCITING AND TURBULENT TIMES. WHEN THE RYDER CUP WAS HELD IN 2016, JIM MANAGED SAFETY OPERATIONS AND MAINTAINED A FAMILY FRIENDLY ENVIRONMENT FOR EVERYONE. AFTER THE PASSING OF MINNESOTA LEGEND, PRINCE, JIM ENSURED THAT PAISLEY PARK REMAINED A SAFE PLACE FOR PRINCE'S FANS TO MOURN. JIM HAS DEDICATED HIS LIFE TO THE COUNTY SERVING AS AN INSTRUCTOR TO THE CITIZENS ACADEMY TO INFORM THE PUBLIC ABOUT THE SERVICES AND ROLE OF THE SHERIFF'S OFFICE. IMPRESSIVELY HE ALSO SERVES AS A MEMBER OF THE CARVER COUNTY MENTAL HEALTH CONSORTIUM TO SPREAD AWARENESS OF MENTAL HEALTH RESOURCES. HE HAS BEEN A FAITHFUL, SELFLESS SERVANT LEADER. THANK YOU FOR YOUR SERVICE. WE WISH YOU THE BEST IN YOUR RETIREMENT. MR. SPEAKER, I RISE TODAY IN RECOGNITION OF ONE OF MINNESOTA'S OUTSTANDING BUSINESSMEN, BUTCH AMES. AS CHIEF EXECUTIVE OFFICER AND CO-FOUNDER OF AMES CONSTRUCTION A. FAMILY OWNED AND PRIVATELY HELD CONSTRUCTION COMPANY, HEADQUARTERED IN MINNESOTA, BUTCH HAS BUILT AND GROWN THE INDUSTRY NATIONWIDE. AMES CONSTRUCTION IS KNOWN FOR HEAVY CIVIL, TRANSPORTATION, AND MINING CONSTRUCTION. WITH BUTCH AT THE HELM, THE COMPANY CONTINUES TO GROW AND EXPAND ITS REACH ACROSS THE NATION. THEY HAVE COMPLETED NOTABLE PROJECTS SUCH AS DENVER'S INTERNATIONAL AIRPORT, THE I-15 CORRIDOR RECONSTRUCTION PROJECT IN SALT LAKE CITY CITY, THE LOOP 202 IN PHOENIX, AND THE ST. CROIX RIVER CROSSING IN MINNESOTA. HE HOLDS HIS COMPANY TO STANDARD OF PROFESSIONALISM AND SAFETY THAT'S UNPARALLELED, SERVING HIS NATION AND INDUSTRY PROUDLY. CONGRATULATIONS. MR. SPEAKER, I RISE TODAY TO RECOGNIZE TORAH ACADEMY FOR ENTERING THEIR 7 RD YEAR EDUCATING JEWISH CHILDREN IN MINNESOTA. FROM THE BEGINNING AND TO THIS DAY, TORAH ACADEMY MAINTAINS A FOCUS ON STRENGTHENING THE MIND AND SPIRIT OF OUR FUTURE LEADERS. BECAUSE OF EDUCATORS LIKE DEAN AND RABBI PINH -- EPSTEIN, THEY OFFER A QUALITY EDUCATION ON FIRM SPIRITUAL GROUND. PILLARS OF OUR STRONG LOCAL COMMUNITY LIKE DR. JOEY GREENBERG AND HIS WIFE SPREAD KINDNESS AND AGAIN ROSSITY TO MAKE CERTAIN TORAH CAN EXECUTE ITS MISSION AND GOALS. A SPECIAL THANK YOU TO CITIZENS INDEPENDENT BANK WHO ALSO DEDICATES THEIR SUPPORT. TORAH STUDENTS SUCCEED BECAUSE THEIR COMMUNITY SUPPORTS THEM. THEY ARE GUARANTEED TO MAKE THEIR CORNER OF THE WORLD A BETTER PLACE. CONGRATULATIONS TO TORAH ACADEMY FOR A SUCCESSFUL 73 YEARS. WE WISH YOU MANY MORE. I YIELD BACK.

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                          • 10:35:49 AM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ILLINOIS,…

                            THE GENTLEMAN YIELDS. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ILLINOIS, MR. RUSH, FOR FIVE MINUTES.

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                          • 10:35:57 AM

                            MR. RUSH

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

                          • 10:36:01 AM

                            TEMPORE WITH

                            WITHOUT OBJECTION.

                          • 10:36:03 AM

                            MR. RUSH

                            MR. SPEAKER, I RISE TODAY TO PAY TRIBUTE AND HONOR TO THE MEMORY OF DR.…

                            MR. SPEAKER, I RISE TODAY TO PAY TRIBUTE AND HONOR TO THE MEMORY OF DR. ROSEMARY JACKSON. ROSE WAS AN EDUCATOR IN CHICAGO . DR. JACKSON WAS A ENTREPRENEUR. ROSE WAS AN EXCEPTIONAL COMMUNITY LEADER. WHO PASSED AWAY LAST WEEK. AND LEAVES BEHIND A LEGACY THAT WILL ENDURE THROUGHOUT THE YEARS. DR. JACKSON WAS A LIFELONG CHICAGO RESIDENT WHO HAD A PASSION FOR EDUCATION. A PASSION THAT BEGAN WHEN SHE WAS A YOUNG GIRL. SHE RECEIVED HER PH.D. LAY YOLEA UNIVERSITY AND -- LOYOLA UNIVERSITY AND A MASTERS GREE FROM THE NATIONAL COLLEGE OF EDUCATION AND THE DEPAUL UNIVERSITY. BEGINNING HER CAREER AS AN ENGLISH TEACHER AT HER ALMA MATER, JOHN MARSHALL HIGH SCHOOL, MY ALMA MATER, SHE WENT ON TO TEACH AT LOCAL INSTITUTIONS SUCH AS THE HYDE PARK HIGH SCHOOL ON THE SOUTH SIDE IN MY DISTRICT. THE KENNEDY-KING COMMUNITY COLLEGE IN MY DISTRICT. AND HER BELOVED DEPAUL UNIVERSITY. ALL THESE PLACES, MR. SPEAKER, ROSE TOUCHED DEEPLY COUNTLESS LIVES AND INSPIRED SO MANY YOUNG PEOPLE. ROSE JACKSON, MR. SPEAKER, WAS A PILLAR OF THE COMMUNITY AND DEEPLY COMMITTED PERSON, COMMITTED TO PUBLIC SERVICE. SHE WAS ALSO A MEMBER OF THE DELTA SIGMA THETA SORORITY FOR WHICH SHE CHAIRED SEVERAL COMMITTEES DURING HER TENURE AS AN MEMBER OF THE DEALT DELTAS. BEYOND HER LOVE FOR EDUCATION, HER LOVE FOR COMMUNITY SERVICE, DR. JACKSON WAS A BELOVED WIFE AND MOTHER. SHE WAS THE VICE CHAIRMAN AND CHIEF ADMINISTRATIVE OFFICER OF THE CHICAGO-BASED CENTRAL CITY PRODUCTIONS. THE BUSINESS THAT SHE HELPED DEVELOP WITH HER LIFELONG PARTNER, HER DEVOTED HUSBAND, MY LONG TIME FRIEND,. MR. DONALD JACKSON. IT IS BEST KNOWN FOR PRODUCING THE STELLAR AWARDS. THE FIRST AND OLDEST TELEVISED AWARDS SHOW IN OUR NATION THAT HONORED GOSPEL MUSIC ARTISTS FOR OVER 33 YEARS. DR. JACKSON ACHIEVED SO MUCH IN HER LIFE THROUGH HARD WORK AND DETERMINATION. SHE NEVER GAVE UP. ALWAYS FOUGHT FOR WHAT WAS RIGHT. AND MADE IT HER LIFE'S MISSION TO HELP STUDENTS IN CHICAGO EXPLORE THEIR POTENTIAL AND THEIR EDUCATIONAL POSSIBILITY. ROSE WAS A TRULY REMARKABLE, SMART A, AND PHENOMENAL WOMAN WHO ENJOYED THE -- SMART, AND PHENOMENAL WOMAN WHO ENJOYED THE ARTS, SPORTS, AND LOVED LINE DANCING. SHE HAD A SMILE THAT WOULD LIGHT UP A ROOM. ROSE WOULD BE MISSED BY HER FAMILY, HER FRIENDS, OUR CITY, OUR STATE, AND INDEED, OUR NATION. THOSE WILL FONDLY REMEMBER HER BEAUTIFUL AND LOVING SPIRIT. I WAS BLESSED TO KNOW HER AND CHICAGO IS BETTER BECAUSE OF HER. MY HEART GOES OUT TO HER FAMILY. THE LAST TIME I SAW ROSE, ME AND MY LATE WIFE, LAST YEAR, WAS COMING IN TO ONE OF OUR FAVORITE RESTAURANTS AND -- IN THE COMMUNITY AND ROSE AND DON, HER HUSBAND, WERE LEAVING. AND WE STOPPED FOR A MOMENT AND SHARED CONVERSATION. MR. SPEAKER, ON BEHALF OF THE PEOPLE OF THE FIRST CONGRESSIONAL DISTRICT OF ILLINOIS, THANK YOU, ROSE. THANK YOU, GOD BLESS YOU. ENJOY YOUR REST. YOU HAVE EARNED IT. GOD BLESS YOU.

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                          • 10:41:29 AM

                            THE SPEAKER PRO TEMPORE

                          • 12:00:16 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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                          • 12:01:25 PM

                            THE SPEAKER

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

                            THE CHAIR HAS EXAMINED THE JOURNAL OF THE LAST DAY'S PROCEEDINGS AND ANNOUNCES HIS APPROVAL THEREOF. THE JOURNAL STANDS APPROVED. THE PLEDGE OF ALLEGIANCE WILL BE LED BY THE GENTLEWOMAN FROM ALABAMA, MRS. ROBY.

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                          • 12:01:42 PM

                            MRS. ROBY

                            I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE…

                            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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                          • 12:01:52 PM

                            THE SPEAKER

                            THE CHAIR WILL ENTERTAIN UP TO 15 REQUESTS FOR ONE-MINUTE SPEECHES ON EACH…

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

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                          • 12:01:59 PM

                            >>

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

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

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                          • 12:02:03 PM

                            THE SPEAKER PRO TEMPORE

                            --

                          • 12:02:04 PM

                            THE SPEAKER

                            --

                          • 12:02:06 PM

                            MR. THOMPSON

                            THANK YOU, MR. SPEAKER. ON MONDAY I HAD THE PRIVILEGE OF VISITING CENTRAL…

                            THANK YOU, MR. SPEAKER. ON MONDAY I HAD THE PRIVILEGE OF VISITING CENTRAL MOUNTAIN HIGH SCHOOL CAREER AND TECHNICAL EDUCATION CERTAINTY. THIS IS A STATE-OF-THE-ART 235,000 SQUARE FOOT ACADEMIC CAREER TECHNICAL EDUCATION COMPLEX. THE KEYSTONE CENTRAL SCHOOL DISTRICT HAS INTRODUCED AN IMPLEMENTED A C.T.E. CURRICULUM THAT OFFERS A TOTALLY INTEGRATED ACADEMIC CAREER AND TECHNICAL EDUCATION FOR ALL NINTH THROUGH 12TH GRADERS. THE INTEGRATION MODEL ALLOWS ALL STUDENTS TO EXPLORE AND ENTERTAIN HIGH ACADEMIC AND TECHNICAL SKILLS IN THEIR CHOSEN PROFESSION. THIS SYSTEM IS DESIGNED TO PROVIDE ALL STUDENTS WITH AN EDUCATION EXPLORATION OPPORTUNITY THAT IS BOTH RIGOROUS AND RELEVANT FOR CAREER AND POST SECONDARY SUCCESS. MR. SPEAKER, AS CO-CHAIR OF THE CAREER AND TECHNICAL EDUCATION CAUCUS AND AUTHOR OF THE STRENGTHENING CAREER AND TECHNICAL EDUCATION FOR THE 21ST CENTURY ACT, I AM THRILLED TO SEE THIS KIND OF COMPLEX IN MY COMMUNITY. OFFERING C.T.E. PROGRAMS TO STUDENTS IN HIGH SCHOOL TRULY GIVES THEM AN OPPORTUNITY TO EXPLORE CAREER OPTIONS. THERE IS AN ENORMOUS SKILLS GAP THAT EXISTS TODAY IN AMERICA. THERE ARE GOOD-PAYING, FAMILY SUSTAINING JOBS OUT THERE BUT PEOPLE NEED THE RIGHT SKILTS TO OBTAIN THOSE JOBS -- SKILLS TO OBTAIN THOSE JOBS. C.T.E. PROGRAMS ARE THE PATHWAY TO SUCCESS. I YIELD BACK THE BALANCE OF MY TIME.

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                          • 12:03:27 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM RHODE ISLAND SEEK RECOGNITION?

                          • 12:03:30 PM

                            MR. CICILLINE

                            I ASK UNANIMOUS CONSENT C.T.E. PROGRAMS ARE THE TO ADDRESS THE HOUSE FOR…

                            I ASK UNANIMOUS CONSENT C.T.E. PROGRAMS ARE THE TO ADDRESS THE HOUSE FOR ONE MINUTE.

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                          • 12:03:34 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION. THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

                          • 12:03:36 PM

                            MR. CICILLINE

                            MR. SPEAKER, THE PRESIDENT AND OUR REPUBLICAN COLLEAGUES ARE AT IT AGAIN.…

                            MR. SPEAKER, THE PRESIDENT AND OUR REPUBLICAN COLLEAGUES ARE AT IT AGAIN. PROMOTING ECONOMIC POLICIES THAT ENRICH THE WEALTHY AND BIGGEST CORPORATIONS IN OUR COUNTRY, THAT WILL HURT MIDDLE CLASS FAMILIES. WE SAW IN IN THE TAX SCAM. WE SEE IT IN THE PRESIDENT'S BUDGET. NOW WE EVEN SEEN IT IN THE INFRASTRUCTURE PROPOSAL. PRESIDENT TRUMP PROPOSES A $200 BILLION INFRASTRUCTURE PLAN THAT WILL RAISE FEES AND TOLLS ON COMMUTERS. WILL BURDEN CITIES AND STATES. AND ASK OTHERS TO FILL THE FUNDING GAP. SELLS OFF INFRASTRUCTURE TO WALL STREET AND PRIVATE COMPANIES. AND ENDS VITAL WORK AND ENVIRONMENTAL PROTECTIONS. THE DEMOCRATS HAVE PROPOSED A BETTER DEAL. A $1 TRILLION INVESTMENT. FIVE TIMES THE PRESIDENT'S PLAN, TO REALLY REBUILD AMERICA. IT WILL CREATE SIX MILLION GOOD-PAYING JOBS. IT WILL DELIVER LOWER PRICES AND BETTER CHOICES FOR CONSUMERS. IT SAFEGUARDS CLEAN AIR AND CLEAN WATER AND WORKER PROTECTION. IT BUILDS MORE RESILIENT INFRASTRUCTURE, WITHSTAND CLIMATE CHANGE, AND ENSURES PRODUCTS ARE BUILT WITH AMERICAN MATERIALS. PROTECTION. IT BUILDS THERE'S A REAL CONTRAST HERE BETWEEN WHAT THE PRESIDENT HAS PROPOSED IS SHIFT THE BURDEN TO CITIES AND STATES AND FOR THE FEDERAL GOVERNMENT TO ABANDON ITS RESPONSIBILITY TO HELP REBUILD OUR COUNTRY. THE DEMOCRATS HAVE A BETTER DEAL THAN THIS RAW DEAL. IT'S A DEAL TO REALLY REBUILD OUR COUNTRY TO CREATE 60 MILLION GOOD PAYING JOBS, TO MAKE SURE THE FEDERAL GOVERNMENT REMAINS A REAL PARTNER IN REBUILDING AMERICA. WITH THAT I YIELD BACK.

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                          • 12:05:00 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM FLORIDA SEEK RECOGNITION?

                          • 12:05:03 PM

                            >>

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

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

                            Show Full Text
                          • 12:05:08 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

                          • 12:05:10 PM

                            >>

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, TODAY I RISE IN RECOGNITION OF A MAN…

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, TODAY I RISE IN RECOGNITION OF A MAN WHOSE SERVICE TO HIS COMMUNITY HAS RESULTED IN GREATER SAFETY, SECURITY, AND JUSTICE IN POLK COUNTY, FLORIDA. SHERIFF GRADY JUD, A DEAR FRIEND, HAS BEEN SWORN INTO THE ROLE OF THE PRESIDENT OF THE MAJOR COUNTY SHERIFF'S ASSOCIATION OF AMERICA. A POSITION TO WHICH HE WILL BRING HIS KNOWLEDGE, HIS SKILL, AND HIS INTEGRITY TO ADVOCATE FOR SAFER COMMUNITIES ACROSS OUR GREAT NATION. FOR CENTURIES THE ANGELO AMERICAN SHERIFF ASSOCIATION HAS PROS TWO AMERICAN PRESIDENTS, GROMB CLEVELAND AND TEDDY ROOSEVELT. HE HAS LONG BEEN AN ADVOCATE CLEVELAND AND TEDDY ROOSEVELT. HE HAS LONG BEEN AN ADVOCATE FOR THE RULE OF LAW AND BENEFIT AS HE RISES TO HIS POSITION TO FIGHT TO UPHOLD THE NOBLE TRADITION OF KEEPING THE PEACE. MY DEEPEST CONGRATULATIONS TO SHERIFF JUDD AND HIS FAMILY AND THE MAJOR COUNTY SHERIFFS OF AMERICA WHO DO SUCH IMPORTANT WORK TO KEEP US SAFE. WITH THAT, MR. SPEAKER, I YIELD BACK. THE MAJOR COUNTY

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                          • 12:06:10 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM MICHIGAN SEEK RECOGNITION?

                          • 12:06:13 PM

                            MR. KILDEE

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

                          • 12:06:16 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE. MR. KILDEE…

                            WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE. MR. KILDEE CLOON --

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                          • 12:06:19 PM

                            MR. KILDEE

                            THANK YOU, MR. SPEAKER. THIS WEEK THE LONG AWAITED TRUMP INFRASTRUCTURE…

                            THANK YOU, MR. SPEAKER. THIS WEEK THE LONG AWAITED TRUMP INFRASTRUCTURE PLAN WAS FINALLY RELEASED. WHAT A DISAPPOINTMENT. AFTER COMING HERE A YEAR AGO AND PROMISING A $1 TRILLION PLAN. IN HIS STATE OF THE UNION SAYING IT'S GOING TO BE EVEN BIGGER, HUGE, $1.5 TRILLION. IN THE FINE PRINT, HOWEVER, $1.3 TRILLION OF THE $1.5 TRILLION COMES FROM COMMUNITIES LIKE MY HOMETOWN OF FLINT, MICHIGAN. NOW, LET'S BE CLEAR. IF STATES AND LOCAL COMMUNITIES HAD AN EXTRA $1.5 TRILLION -- $1.3 TRILLION LAYING AROUND, THEY WOULD BE SERVICING THOSE ROADS AND BRIDGES. THEY WOULD BE REBUILDING THEIR WATER SYSTEMS. THEY WOULD BE DOING THIS WORK ALREADY. IF WE'RE GOING TO HAVE A FEDERAL INFRASTRUCTURE PLAN A, WE NEED TO HAVE A FEDERAL INFRASTRUCTURE PLAN THAT'S REALLY INVESTMENT. AND NOT JUST CHECKING THE BOX SO THAT THE PRESIDENT CAN SAY HE SUBMIT ADD BIG, BOLD INFRASTRUCTURE PLAN MUCH IT'S NOT BIG AND BOLD FROM THE FEDERAL GOVERNMENT'S POINT OF VIEW. PRESIDENT CAN SAY HE SUBMIT ADD $200 BILLION VIN HEMENT FROM THE FEDERAL GOVERNMENT OFFSET BY A $170 BILLION REDUCTION IT WOILS DOWN TO $3 BILLION A YEAR OVER 10 YEARS. THAT'S NOT BIG. THAT'S NOT BOLD. AND THAT WON'T FIX THE ROADS AND BRIDGES IN THIS COUNTRY. I YIELD BACK.

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                          • 12:07:42 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM SOUTH CAROLINA SEEK RECOGNITION?

                          • 12:07:46 PM

                            >>

                            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.

                            Show Full Text
                          • 12:07:51 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

                          • 12:07:53 PM

                            MR. WILSON

                            MR. SPEAKER, THIS WEEKEND IRAN HAS WRONGFULLY SEIZED ANOTHER AMERICAN…

                            MR. SPEAKER, THIS WEEKEND IRAN HAS WRONGFULLY SEIZED ANOTHER AMERICAN HOSTAGE. A DUAL AMERICAN IRANIAN CITIZEN WAS VOLUNTEERING WITH THE PERSIAN WILDLIFE HERITAGE FOUNDATION WHEN HE WAS MALICIOUSLY ARRESTED. THIS IS IN ADDITION TO THE TRAGIC NEWS THAT CANADIAN AMANI, WHO WAS ARRESTED WORKING WITH THE FOUNDATION, DIED LAST WEEK UNDER SUSPICIOUS CIRCUMSTANCES IN AN IRANIAN PRISON. TABAZ IS THE C.E.O. OF THE PERSIAN WILDLIFE FOUNDATION AND FORM PRESIDENT OF EMPIRE RESORTS. HE ATTENDED COLGATE UNIVERSITY AND COLUMBIA BUSINESS SCHOOL. HE'S AN UPSTANDING AMERICAN CITIZEN WHO DOES NOT DESERVE TO BE TREATED LIKE A CRIMINAL NOR POLITICAL PAWN BY A ROGUE REGIME AS HE PROMOTES THE EXTRAORDINARY HERITAGE OF PERSIA. THE OBAMA ADMINISTRATION CAVED TO THE DANGEROUS RANSOM DEALS WITH IRAN. STRATEGIC PATIENTS ONLY EMBOLDEN THEM TO SUBJUGATE THE BRAVE CITIZENS OF IRAN. AS THE GOVERNMENT CONTINUES TO UNDERMINE PEACE, FREE NATIONS MUST WORK TOGETHER ADDRESS THIS SERIOUS THREAT. I SUPPORT SECRETARY OF STATE REX TILLERSON AND AMBASSADOR HALEY IN CALLING FOR RELEASE OF ALL AMERICAN GOVERNMENT UNJUSTLY DETAINED IN CITIZENS IRAN. WE WILL NEVER FORGET SPEAVEN THE GLOBAL WAR ON TERRORISM.

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                          • 12:09:17 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM ILLINOIS SEEK IRAN. WE WILL…

                            FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM ILLINOIS SEEK IRAN. WE WILL RECOGNITION?

                            Show Full Text
                          • 12:09:20 PM

                            >>

                            UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

                          • 12:09:29 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE. TO…

                            WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE. TO ADDRESS THE HOUSE FOR ONE MINUTE.

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                          • 12:09:33 PM

                            TEMPORE WITHO

                            WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE.

                          • 12:09:35 PM

                            >>

                            THANK YOU. MR. SPEAKER, FEBRUARY IS NATIONAL CHILDREN'S DENTAL HEALTH…

                            THANK YOU. MR. SPEAKER, FEBRUARY IS NATIONAL CHILDREN'S DENTAL HEALTH MONTH.

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                          • 12:09:38 PM

                            MS. KELLY

                            DURING THIS MONTH WE RAISE AWARENESS ABOUT THE IMPORTANCE OF ORAL HEALTH,…

                            DURING THIS MONTH WE RAISE AWARENESS ABOUT THE IMPORTANCE OF ORAL HEALTH, ESPECIALLY FOR AMERICA'S KIDS. TOOTH DECAY IS THE MOST COMMON CHRONIC CHILDHOOD DISEASE. FIVE STATUS IS DIRECTLY TIED TO ACADEMIC ACHIEVEMENT DISEASE. FIVE TIMES MORE COMMON THAN ASTHMA. SEVEN TIMES MORE COMMON THAN HAY FEVER. AN ORAL HEALTH AND SCHOOL ATTENDANCE. ONE WE WE CAN FIX THIS IS PASSING THE ACTION NOR DENTAL HEALTH ACT WHICH WAS UNANIMOUSLY REPORTED OUT OF THE ENERGY AND COMMERCE COMMITTEE ON SEPTEMBER 25. THIS BIPARTISAN BILL IS CO-SPONSORED BY 83 MEMBERS AND SUPPORTED BY THE AMERICAN DENTAL ASSOCIATION, THE NATIONAL DENTAL ASSOCIATION, THE AMERICAN DENTAL EDUCATION ASSOCIATION, AND 39 OTHER ADVOCACY GROUPS. ONCE ENACTED THIS BILL WILL EMPOWER THE C.D.C. TO DELIVER MORE AND BETTER DENTAL HEALTH CARE TO UNDERSERVED POPULATIONS ESPECIALLY IN URBAN AND A RURAL COMMUNITIES. AND INCREASE EDUCATION ABOUT THE IMPORTANCE OF ORAL HEALTH. I'M PROUD TO BE WORKING WITH CONGRESSMAN MIKE SIMPSON OF IDAHO ON THIS BIPARTISAN BILL. I ASK THE SPEAKTORY SCHEDULE A VOTE ON THE BILL BEFORE THE END OF NATIONAL CHILDREN'S DENTAL HEALTH MONTH. LASTLY, AID LIKE TO WISH MY COLLEAGUES AND MY CONSTITUENTS A HAPPY VALENTINE'S DAY.

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                          • 12:10:39 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE THE GENTLEWOMAN FROM ALABAMA SEEK RECOGNITION?

                          • 12:10:43 PM

                            >>

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

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

                            Show Full Text
                          • 12:10:48 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION, THE GENTLEWOMAN IS RECOGNIZED FOR ONE MINUTE.

                          • 12:10:51 PM

                            MRS. ROBY

                            THANK YOU, MR. SPEAKER. THIS WEEK THE SENATE IS TAKING ACTION TO ADDRESS…

                            THANK YOU, MR. SPEAKER. THIS WEEK THE SENATE IS TAKING ACTION TO ADDRESS OUR ILLEGAL IMMIGRATION PROBLEM. I RISE TODAY TO SHARE SOME FEEDBACK FROM THE PEOPLE I REPRESENT IN ALABAMA'S SECOND CONGRESSIONAL DISTRICT. I RECENTLY HELD TWO TELEPHONE TOWN HALL EVENTS TO HEAR DIRECTLY FROM SOME OF MY CONSTITUENTS. LET ME START BY SAYING, MR. SPEAKER, THANK YOU TO EVERY PERSON WHO TOOK THE TIME TO PARTICIPATE AND ASK QUESTIONS. DURING BOTH TOWN HALLS, I ASKED EVERYONE WHAT THEIR TOP PRIORITY WAS REGARDING OUR COUNTRY'S ILLEGAL IMMIGRATION ISSUE. AND THE VAST MAJORITY OF PARTICIPANTS SAID THEY ARE MOST CONCERNED ABOUT SECURING OUR BORDER. I COULDN'T AGREE MORE. I ALWAYS SAID IN ORDER TO TRULY FIX OUR IMMIGRATION SYSTEM, WE ABSOLUTELY HAVE TO START BY SECURING OUR BORDER. IF I HAD A LEAK IN MY HOUSE, I WOULDN'T START BY REPLACING THE DAMAGED DRY WALL, I WOULD FIX THE LEAK FIRST. MR. SPEAKER, THE SAME IDEA APPLIES NOR OUR ILLEGAL -- FOR OUR ILLEGAL IMMIGRATION PROBLEM. WE WILL ONLY BE ABLE TO MAKE REAL PROGRESS TOWARDS FIXING THE ISSUE ONCE WE SECURE OUR BORDER. I'M PLOWED TO SUPPORT THESE EFFORTS IN THE HOUSE AND I STAND -- I'M PROUD TO SUPPORT THESE EFFORTS IN THE HOUSE AND I STAND READY TO CONTINUE TO TACKLE THE PROBLEM WHERE IT STARTS, AT THE BORDER. I YIELD BACK.

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                          • 12:12:10 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION.

                          • 12:12:13 PM

                            >>

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

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

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                          • 12:12:18 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

                          • 12:12:21 PM

                            >>

                            MR. SPEAKER, OUTSIDE THIS BUILDING MORE AND MORE REPUBLICANS BEKNOWN THE…

                            MR. SPEAKER, OUTSIDE THIS BUILDING MORE AND MORE REPUBLICANS BEKNOWN THE EFFECT OF TRUMPISM ON THEIR PARTY. WE SHOULD TAKE A MOMENT TO DEFINE THIS NEW PHENOMENON. TRUMPISM IS WHEN THE WHIMS OF OUR AUTHORITARIAN PRESIDENT TRUMP THE VALUES REPUBLICANS ONCE STOOD FOR. IT'S WHEN EVANGELICALS SAY CHARACTER DOESN'T MATTER. IT'S WHEN RULE OF LAW CONSTITUTIONALISTS SHIELD TRUMP BY ATTACKING THE INSTITUTION THAT IS GUARANTEE THE RULE OF LAW.

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                          • 12:12:49 PM

                            MR. HUFFMAN:

                            : WHEN FIRST AMENDMENT CHAMPIONS JOIN TRUM NATIONAL PARK ATTACKING OUR…

                            : WHEN FIRST AMENDMENT CHAMPIONS JOIN TRUM NATIONAL PARK ATTACKING OUR FREE PRESS. WHEN RUSSIA HAWKS BOW AND SCRAPE BEFORE A PRESIDENT WHO CHOOSES TO BELIEVE HIS PAL, VLADIMIR, OVER ALL OUR U.S. INTELLIGENCE AGENCIES. TRUMPISM IS WHEN THIS HOUSE, WHICH IS SUPPOSED TO CONDUCT SERIOUS OVERSIGHT, ACTS LIKE TRUMP'S LAP DOG, IGNORING OR ABETTING CORRUPTION AND OBSTRUCTION OF JUSTICE. BECAUSE TRUMPISM THREATENS OUR DEMOCRACY, MANY LEADING REPUBLICANS ARE LEAVING THEIR PARTY OR, LIKE GEORGE BUSH'S SPEECHWRITER, CALLING ON VOTERS TO DELIVER A MESSAGE THIS FALL. WITHOUT THAT POLITICAL JOLT, ELECTED REPUBLICANS WILL JUST KEEP CLINGING TO THE U.S.S. TRUMP AS IT SINKS FURTHER INTO THE SWAMP. NOW THAT WE HAVE DEFINED TRUMPISM, LET'S WORK TOGETHER TO SAVE THIS COUNTRY FROM IT. I YIELD BACK.

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                          • 12:13:39 PM

                            TEMPORE MEMBERS

                            MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIESES TOWARDS…

                            MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIESES TOWARDS THE PRESIDENT. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM SEEK RECOGNITION.

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                          • 12:13:54 PM

                            >>

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

                          • 12:13:58 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION, THE GENTLEMAN IS RECOGNIZED FOR ONE MINUTE.

                          • 12:14:00 PM

                            MR. SMITH

                            FOR ONE MINUTE.

                          • 12:15:04 PM

                            THE SPEAKER PRO TEMPORE

                            SELF-WORTH. THE SPEAKER PRO TEMPORE: FOR WHAT PURPOSE DOES THE GENTLEMAN…

                            SELF-WORTH. THE SPEAKER PRO TEMPORE: FOR WHAT PURPOSE DOES THE GENTLEMAN FROM INDIANA SEEK RECOGNITION?

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                          • 12:15:08 PM

                            >>

                            UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

                          • 12:15:14 PM

                            >>

                            MR. SPEAKER, I RISE TODAY TO COMMEMORATE THE 50TH ANNIVERSARY OF THE 9-1-1…

                            MR. SPEAKER, I RISE TODAY TO COMMEMORATE THE 50TH ANNIVERSARY OF THE 9-1-1 SYSTEM AND TO HONOR ITS FOUNDER, CONGRESSMAN ED ROUSH, OF HUNTINGTON, INDIANA. AS THE REPRESENTATIVE FROM MY NORTHEAST INDIANA DISTRICT, THE LATE CONGRESSMAN ROUSH WAS A DRIVING FORCE BEHIND THE EFFORTS TO CREATE ONE CENTRAL TELEPHONE NUMBER THAT CITIZENS COULD USE IN A TIME OF CRISIS TO RECEIVE HELP. . LAUNCHING A ONE-MAN CRUSADE, HE WROTE TO GOVERNORS AND PUBLIC SERVANTS TO GAIN SUPPORT FOR AN EMERGENCY PHONE NUMBER THAT WAS EASY TO REMEMBER UNDER STRESS AND SHORT ENOUGH TO DIAL QUICKLY. THE CONGRESSMAN'S EFFORTS WERE SUCCESSFUL AND THE 911 SYSTEM WENT LIVE IN INDIANA WITH THE CONGRESSMAN PLACING THE FIRST TEST CALL. DUE TO HIS EFFORTS, HUNTINGTON LED THE WAY FOR OTHER MUNICIPALITIES TO ADOPT THE IMPORTANT EMERGENCY SYSTEM THAT HAS SAVED SO MANY LIVES. HOOSIERS ARE PROUD OF HIS LEADERSHIP ON THIS INITIATIVE. WE AS A NATION ARE SAFER DUE TO HIS EFFORTS AND THE EVERY DAY LIFE-SAVING ACTIONS OF 911 OPERATORS AND FIRST RESPONDERS. I YIELD BACK.

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                          • 12:16:30 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM COLORADO SEEK RECOGNITION?

                          • 12:16:35 PM

                            MR. POLIS

                            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. I RISE TODAY IN SUPPORT OF THE OLYMPIC ATHLETES FROM THE GREAT STATE OF COLORADO. THE OLYMPICS ARE A DEM ORN ADMINISTRATION OF FELLOWSHIP, COMMITMENT, DETERMINATION AND GRIT, A WONDERFUL EXAMPLE FOR THE WORLD. THERE ARE 36 PARTICIPATING FROM COLORADO, THE MOST FROM ANY STATE AND COMPETING IN 17 DIFFERENT DISCIPLINES. 12 OF THESE OLYMPIC ATHLETES ARE FROM COLORADO'S 2ND. LINDSAY, SARAH, JOE AN, CASEY, CRYSTAL, JAILEN, MIKE, KATIE, CHRIS, KYLE AND READ, ALL HAIL FROM THE 2ND DISTRICT OF COLORADO. THIS PAST PAST, REED WON THE OLYMPIC GOLD MEDAL, THE FIRST GOLD MEDAL FOR TEAM U.S.A. REED LEARNED TO SNOWBOARD IN HIS BACK YARD. ANOTHER ONE, ARIAL GOLD AND GOLD IS A GOOD NAME, DESPITE DISLOATHING HER SHOULDER IS BRINGING HOME A BRONZE MEDAL IN THE HALFPIPE. I WISH I HAD TIME TO TALK ABOUT THE OTHER 36. THEY ARE AN INSPIRATION TO ALL AMERICANS AND I'M ROOTING FOR THEM. U.S.A. U.S.A. U.S.A. I YIELD BACK.

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                          • 12:18:10 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

                          • 12:18:22 PM

                            >>

                            I RISE TODAY BECAUSE I AM A PROPONENT OF IMPEACHMENT. I HAVE AS MUCH AS…

                            I RISE TODAY BECAUSE I AM A PROPONENT OF IMPEACHMENT. I HAVE AS MUCH AS NOT ONLY SAID SO, BUT BROUGHT ARTICLES OF IMPEACHMENT BEFORE THE HOUSE OF REPRESENTATIVES.

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                          • 12:18:33 PM

                            MR. GREEN

                            THERE ARE A GOOD MANY PEOPLE WHO ARE OPPOSED TO MY POSITION. AS A MEMBER…

                            THERE ARE A GOOD MANY PEOPLE WHO ARE OPPOSED TO MY POSITION. AS A MEMBER OF THE HOUSE, I WOULD CHALLENGE ANY MEMBER WHO DESIRES TO DEBATE THIS ISSUE ON THE FLOOR OF THE HOUSE, I WOULD ALSO CHALLENGE ANY MEMBER OF A MORNING PROGRAM, "MORNING JOE" WHO BELIEVES HE SHOULD BACK UP HIS WORDS TO TALK TO ME ON HIS PROGRAM. NEVER TALKED TO ME, WOULD YOU INVITE ME ON YOUR PROGRAM AND SHOW THE COURAGE TO SPEAK OF THESE ISSUES WITH ME THERE SO I MAY DEFEND AND YOU MAY ATTACK. I YIELD BACK THE BALANCE OF MY TIME.

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                          • 12:19:18 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM GAY SEEK RECOGNITION?

                          • 12:19:22 PM

                            MR. COLLINS

                            BY DIRECTION OF THE COMMITTEE ON RULES I CALL UP RESOLUTION 736 AND ASK…

                            BY DIRECTION OF THE COMMITTEE ON RULES I CALL UP RESOLUTION 736 AND ASK FOR ITS CONSIDERATION. CLE

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                          • 12:19:29 PM

                            THE CLERK

                            HOUSE CALENDAR NUMBER 126, HOUSE RESOLUTION 736, RESOLVED, THAT AT ANY…

                            HOUSE CALENDAR NUMBER 126, HOUSE RESOLUTION 736, RESOLVED, THAT AT ANY TIME AFTER ADOPTION OF THIS RESOLUTION THE SPEAKER MAY, PURSUANT TO CLAUSE 2(B) OF RULE XVIII, DECLARE THE HOUSE RESOLVED INTO THE COMMITTEE OF THE WHOLE HOUSE ON THE STATE OF THE UNION FOR CONSIDERATION OF THE BILL, H.R. 620, TO AMEND THE AMERICANS WITH DISABILITIES ACT OF 1990 TO PROMOTE COMPLIANCE THROUGH EDUCATION, TO CLARIFY THE REQUIREMENTS FOR DEMAND LETTERS, TO PROVIDE FOR A NOTICE AND CURE PERIOD BEFORE THE COMMENCEMENT OF A PRIVATE CIVIL ACTION, 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 THE JUDICIARY. AFTER GENERAL DEBATE THE BILL SHALL BE CONSIDERED FOR AMENDMENT UNDER THE FIVE-MINUTE RULE. THE BILL SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST PROVISIONS IN THE BILL ARE WAIVED. NO AMENDMENT TO THE BILL SHALL BE IN ORDER EXCEPT THOSE PRINTED IN PART A 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. 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. SECTION 2. UPON ADOPTION OF THIS RESOLUTION IT SHALL BE IN ORDER TO CONSIDER IN THE HOUSE THE BILL, H.R. 3299, TO AMEND THE REVISED STATUTES, THE HOME OWNERS' LOAN ACT, THE FEDERAL CREDIT UNION ACT, AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE RATE OF INTEREST ON CERTAIN LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOAN, AND FOR OTHER PURPOSES. ALL POINTS OF ORDER AGAINST CONSIDERATION OF THE BILL ARE WAIVED. THE BILL SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST PROVISIONS IN THE BILL ARE WAIVED. THE PREVIOUS QUESTION SHALL BE CONSIDERED AS ORDERED ON THE BILL AND ON ANY AMENDMENT THERETO TO FINAL PASSAGE WITHOUT INTERVENING MOTION EXCEPT ONE, ONE HOUR OF DEBATE EQUALLY DIVIDED AND CONTROLLED BY THE CHAIR AND RANKING MINORITY MEMBER OF THE COMMITTEE ON FINANCIAL SERVICES; AND TWO, ONE MOTION TO RECOMMIT. SECTION 3. UPON ADOPTION OF THIS RESOLUTION IT SHALL BE IN ORDER TO CONSIDER IN THE HOUSE THE BILL, H.R. 3978, TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO MODIFY REQUIREMENTS RELATED TO MORTGAGE DISCLOSURES, AND FOR OTHER PURPOSES. ALL POINTS OF ORDER AGAINST CONSIDERATION OF THE BILL ARE WAIVED. AN AMENDMENT IN THE NATURE OF A SUBSTITUTE CONSISTING OF THE TEXT OF RULES COMMITTEE PRINT 115-59, MODIFIED BY THE AMENDMENT PRINTED IN PART B OF THE REPORT OF THE COMMITTEE ON RULES ACCOMPANYING THIS RESOLUTION, SHALL BE CONSIDERED AS ADOPTED. THE BILL, AS AMENDED, SHALL BE CONSIDERED AS READ. ALL POINTS OF ORDER AGAINST PROVISIONS IN THE BILL, AS AMENDED, ARE WAIVED. THE PREVIOUS QUESTION SHALL BE CONSIDERED AS ORDERED ON THE BILL, AS AMENDED, AND ON ANY FURTHER AMENDMENT THERETO, TO FINAL PASSAGE WITHOUT INTERVENING MOTION EXCEPT ONE, ONE HOUR OF DEBATE EQUALLY DIVIDED AND CONTROLLED BY THE CHAIR AND RANKING MINORITY MEMBER OF THE COMMITTEE ON FINANCIAL SERVICES; TWO, THE FURTHER AMENDMENT PRINTED IN PART C OF THE REPORT OF THE COMMITTEE ON RULES, IF OFFERED BY THE MEMBER DESIGNATED IN THE REPORT, WHICH SHALL BE IN ORDER WITHOUT INTERVENTION OF ANY POINT OF ORDER, SHALL BE CONSIDERED AS READ, SHALL BE SEPARATELY DEBATABLE FOR THE TIME SPECIFIED IN THE REPORT EQUALLY DIVIDED AND CONTROLLED BY THE PROPONENT AND AN OPPONENT , AND SHALL NOT BE SUBJECT TO A DEMAND FOR DIVISION OF THE QUESTION; AND, TWO, ONE MOTION TO RECOMMIT WITH OR WITHOUT INSTRUCTIONS. SECTION 4. ON ANY LEGISLATIVE DAY DURING THE PERIOD FROM FEBRUARY 16, 2018, THROUGH FEBRUARY 23, 2018 (A) THE JOURNAL OF THE PROCEEDINGS OF THE PREVIOUS DAY SHALL BE CONSIDERED AS APPROVED; AND (B) THE CHAIR MAY AT ANY TIME DECLARE THE HOUSE ADJOURNED TO MEET AT A DATE AND TIME, WITHIN THE LIMITS OF CLAUSE 4, SECTION 5, ARTICLE I OF THE CONSTITUTION, TO BE ANNOUNCED BY THE CHAIR IN DECLARING THE ADJOURNMENT. SECTION 5. THE SPEAKER MAY APPOINT MEMBERS TO PERFORM THE DUTIES OF THE CHAIR FOR THE DURATION OF THE PERIOD ADDRESSED BY SECTION 4 OF THIS RESOLUTION AS THOUGH UNDER CLAUSE 8(A) OF RULE I.

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                          • 12:24:19 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM GEORGIA IS RECOGNIZED FOR ONE HOUR.

                          • 12:24:22 PM

                            MR. COLLINS

                            TORE THE PURPOSES OF DEBATE ONLY I YIELD 30 MINUTES TO THE GENTLEMAN FROM…

                            TORE THE PURPOSES OF DEBATE ONLY I YIELD 30 MINUTES TO THE GENTLEMAN FROM COLORADO, MR. POLIS, PENDING WHICH I YIELD MYSELF I MAY CONSUME. ALL TIME IS YIELDED FOR THE PURPOSES OF DEBATE ONLY. MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT ALL MEMBERS MAY HAVE FIVE LEGISLATIVE DAYS TO REVISE AND EXTEND THEIR REMARKS AND INCLUDE MATERIAL ON THE BILL UNDER CONSIDERATION.

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                          • 12:24:47 PM

                            THE SPEAKER PRO TEMPORE

                            WITHOUT OBJECTION.

                          • 12:24:48 PM

                            MR. COLLINS

                            WITHOUT OBJECTION.

                          • 12:34:11 PM

                            THE SPEAKER PRO TEMPORE

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

                            THE GENTLEMAN FROM GEORGIA RESERVES THE BALANCE OF HIS TIME. THE GENTLEMAN FROM COLORADO IS RECOGNIZED.

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                          • 12:34:15 PM

                            MR. POLIS

                            I THANK THE GENTLEMAN FOR YIELDING ME THE CUSTOMARY 30 MINUTES. I YIELD…

                            I THANK THE GENTLEMAN FOR YIELDING ME THE CUSTOMARY 30 MINUTES. I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

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                          • 12:34:20 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 12:34:22 PM

                            MR. POLIS

                            MR. SPEAKER, TODAY SADLY WE FIND OURSELVES CONSIDERING LEGISLATION THAT…

                            MR. SPEAKER, TODAY SADLY WE FIND OURSELVES CONSIDERING LEGISLATION THAT WOULD ACTUALLY MAKE IT EASIER FOR SCRUPULOUS PAYDAY LERNSD TO SKIRT STATE INTEREST RATE CAPS. ANOTHER BILL THAT GUTS THE ENFORCEMENT OF THE AMERICANS WITH DISABILITIES ACT THAT PUTS AN UNFAIR BURDEN ON PEOPLE WITH DISABILITIES. THESE BILLS HURT THE AMERICAN PEOPLE. INSTEAD OF SPENDING OUR TIME HERE DEBATING VERY IMPORTANT IMMIGRATION BILL LIKE THE SENATE IS DOING ACROSS THE WAY, INSTEAD WE'RE CONSIDERING BILLS THAT WILL ONLY HARM OUR MOST VULNERABLE POPULATIONS. ON THE OTHER SIDE OF THE CAPITAL, THE SENATE IS HAVING AN OPEN DEBATE ABOUT IMMIGRATION IN OUR COUNTRY. THIS HOUSE OWES THE AMERICAN PEOPLE NO LESS. THE SENATE IS TRYING TO FIND SOLUTIONS TO HELP HUNDREDS OF THOUSANDS OF DACA RECIPIENTS TO IMPROVE BORDER SECURITY, TO ADDRESS FAMILY REUNIFICATION. THE SENATE'S DEBATING DIFFERENT PROPOSALS FROM BOTH SIDES OF THE AISLE. WE'LL SEE WHAT THEY COME UP WITH. AGAIN, THIS HOUSE IS SIMPLY NOT DOING ITS JOB. THIS HOUSE IS DOING NOTHING TO IMPROVE BORDER SECURITY, NOTHING TO ADDRESS THE DACA RECIPIENTS, OR FAMILY REREUNIFICATION. OVER HERE THERE'S NOT EVEN A PLAN TO BRING ANY IMMIGRATION BILL OR AMENDMENT TO THE FLOOR. IN FACT, THERE IS NO COMMITMENT AT ALL TO ACTUALLY ADDRESS THE ISSUES OF THE AMERICAN PEOPLE. WE HAVE BIPARTISAN BILLS TODAY THAT SPEAKER RYAN COULD BRING TO THE FLOOR. THEY WOULD PASS WITH PROBABLY 70%, 60% OF THE VOTE. MR. SPEAKER, THE MARCH 5 DEADLINE FOR DACA PROTECTIONS IS RAPIDLY APPROACHING. THERE IS NO PLAN IN PLACE TO PROTECT DREAMERS LIKE ANNA AND MARCOS IN MY DISTRICT. INSTEAD OVER 800,000 YOUNG ADULTS ARE TRYING TO SEE WHAT HAPPENS NEXT. HOPING THE COURT SYSTEM INTERVENES. HOPING SOMEBODY SOMEWHERE DOES SOMETHING SO THEY CAN CONTINUE TO WORK LEGALLY IN THE ONLY COUNTRY THEY KNOW. THE COUNTRY THEY CALL HOME, THE UNITED STATES OF AMERICA. I HAVE OFFERED THE DREAM ACT AS AN AMENDMENT TO EVERY SPENDING BILL THAT'S COME THROUGH RULES COMMITTEE. I'LL CONTINUE TO DO SO UNTIL WE FINALLY GET IT DONE. BUT AGAIN INSTEAD OF BRINGING UP A BILL TO HELP PROTECT DREAMERS BEFORE THE SELF-TRUMP IMPOSED MARCH 5 DEADLINE, THE HOUSE WILL CONSIDER LEGISLATION THAT UNDERMINES THE CIVIL RIGHTS OF DISABLED AMERICANS AND ALSO MAKES IT EASIER FOR PREDATORY LENDERS TO EVADE CONSUMER PROTECTION LAWS. PEOPLE WONDER WHY THE HOUSE OF REPRESENTATIVES IS AS UNPOPULAR AS IT IS. H.R. 3299, THE 3299, THE PROTECTING CONSUMER ACCESS TO CREDIT, IS A BILL THAT HURTS CONSUMERS. IT'S ONE THAT MAKES IT EASIER FOR PAYDAY LENDERS TO EVADE WELL THOUGHT OUT STATE LEVEL PROTECTION LAWS. THAT'S WHY OVER 200 NATIONAL AND STATE ORGANIZATIONS HAVE WRITTEN IN OPPOSITION TO THE BILL. WHICH THEY FEAR WOULD OPEN THE FLOODGATES TO PREDATORY LENDING WITH INTEREST RATES AS HIGH AS 300%. 20 STATE ATTORNEYS GENERAL HAVE ALSO WRITTEN IN OPPOSITION. MR. SPEAKER, I ASK UNANIMOUS CONSENT TO ERNT THESE LETTERS INTO THE RECORD.

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                          • 12:37:22 PM

                            PORE WITHOUT

                            WITHOUT OBJECTION, SO ORDERED.

                          • 12:37:23 PM

                            MR. POLIS

                            STATES CAN AND DO LIKE MY STATE OF COLORADO PUT LIMITATIONS ON THE…

                            STATES CAN AND DO LIKE MY STATE OF COLORADO PUT LIMITATIONS ON THE INTEREST RATES OF INSTALL LOANS ISSUED BY NONBANKS. BARNINGS, OTHER, HAVE THE PREEMPTION OF STATE INTEREST RATE CAPS THROUGH THE NATIONAL BANK ACT. IN ORDER TO GET AROUND STATE INTEREST RATE CAPS, PAYDAY LENDERS OFTEN USE A BANK TO ORIGINATE A LOAN AT A HIGHER INTEREST RATE, BUT THE NONBANK DESIGNS A LOAN PROVIDES FUNDING FOR THE LOAN, SERVICES THE LOAN, AND GUARANTEES ANY LOSSES THE BANK INCURS. IN ALL BUT A NAME IT IS A NONBANK ENTITY. THE PAYDAY LENDER IS THE DE FACTO LENDER. THE PANG IS SIMPLY A NOMINAL PARTICIPANT TO EVADE REGULATIONS. THESE ARE REFERRED TO AS RENT THE CHARTER SCHEMES. THEY ARE NOT NEW. IN THE EARLY 2000ED FEDERAL BANKING REGULATORS SHUT DOWN SEVERAL OF THESE ARRANGEMENTS BETWEEN NATIONAL BANKS AND NONBANK LENDERS. BANKS MAY NOT RUN OUT THEIR CHARTERS TO THIRD PARTIES. RIGHT NOW OUR FEDERAL BANKING REGULATIONS ARE ABLE TO CONSTAIN THE KEEPS. THIS LEGISLATION WOULD UNDERMINE OUR ABILITY TO STOP ABUSIVE AND PREDATORY PRACTICES. STATES ARE LEADING THE EFFORT TO STOP ABUSIVE LENDING PRACTICES OF THE IN MY HOME STATE OF COLORADO THERE IS A LAWSUIT CHALLENGING THIS SCHEME. NOW THAT THE NEW DIRECTOR OF THE CONSUMER FINANCIAL PROTECTS CURE ROJAS DELAYED A FINAL RULE THAT WOULD HELP PROTECT BORROWERS, IT'S UP TO THE STATES TO PROTECT CONSUMERS. THIS BILL WOULD MAKE IT HARDER THIS. BILL WOULD CRIPPLE STATES LIKE COLORADO'S EFFORTS TO STOP PREDATORY LEND INTERESTING PLAYING ON THEIR CITIZENS. THE REPUBLICAN -- PREYING ON THEIR CITIZENS. THE REPUBLICAN ASSAULT ON STATES' RIGHTS HAS GONE FROM BAD TO WORSE. THIS IS ANOTHER PART OF THE BIG GOVERNMENT REPUBLICAN WAR ON CONSUMERS ACROSS THE COUNTRY, PREEMPTING STATES' RIGHTS FOR WASHINGTON, D.C. CONTROL. IT SEEMS LIKE THE REPUBLICANS WANT TO CONTROL EVERYTHING FROM WASHINGTON. AND THAT'S WHY WE NEED TO MAKE SURE OUR STATES ARE EMPOWERED TO HAVE THE ABILITY THEY NEED TO REACT TO PROTECT CONSUMERS AND OUR LAW. LATELY THERE'S BEEN AN INCREASED FOCUS ON FENTEK COMPANIES. I AM A BIG SUPPORTER OF FINANCIAL INNOVATION, BUT WE CAN'T DO THAT AT THE EXPENSE OF CONSUMERS OR HIGH COST OF PUTTING CONSUMERS INTO A CYCLE DEBT WHICH ENDS BADLY. WHY ARE WE CONSIDERING LEGISLATION THAT WOULD PUT THE POWER IN WASHINGTON, D.C., AND TAKE AWAY STATE LEVEL PROTECTIONS FOR CONSUMERS? WE SHOULD BE FINDING WAYS TO INCREASE ACCESS TO AFFORDABLE CREDIT. MAKE IT EASIER FOR CONSUMERS TO ACCESS THE FINANCIAL SERVICES RATHER THAN TRYING TO FORCE A REPUBLICAN WASHINGTON SOLUTION ON ALL THE STATES ACROSS OUR COUNTRY. WE'RE CONSIDERING THIS BILL UNDER A CLOSED RULE. THERE IS ONLY ONE AMENDMENT FILED TO THIS BILL AND IT'S NOT EVEN ALLOWED TO BE DEBATED NO LESS VOTED ON. I WANT TO TALK ABOUT THE OTHER BILL UNDER THIS RULE. H.R. 3978, THE TRID IMPROVEMENT ACT, WHICH IS A PACKAGE OF SEVERAL BILLS THAT CAME OUT OF THE HOUSE FINANCIAL SERVICES COMMITTEE, SOME OF WHICH ARE MORE CONTROVERSIAL THAN OTHERS. TITLE 1 OF THE PACKAGE WAS REPORTED OUT BY A 53-5 VOTE. ALL THE REPUBLICANS AND DEMOCRATS SUPPORTED TIGHTAL 5 OF THE PACKAGE. ELIMINATING BARRIERS TO JOBS FOR LOAN ORIGINATORS. I SUPPORT TITLE 2, THE PROTECTION OF SOURCE CODE ACT THAT'S BEING INCLUDED. I CLS SUPPORT REPRESENTATIVE FOSTER'S AM WHICH WOULD PROVIDE ADDITIONAL CLARIFICATION. THE PROBLEM IS IT TAKES SEVERAL BILLS THAT HAVE BIPARTISAN SUPPORT, COMBINES THEM WITH OTHER BILLS THAT SHOULD BE CONSIDERED SEPARATELY, WHICH IS FORCING DEMOCRATS AND REPUBLICANS TO WEIGH THE PACKAGE AS A WHOLE. WE SIMPLY CAN'T KNOW THE RAMIFICATIONS OF CONSIDERING ALL THESE BILLS AT THE SAME TIME. ESPECIALLY WHEN THEY HAVEN'T HAD HEARINGS ON THE INDIVIDUAL COMPONENTS. TIMELY, H.R. 620, THE A.D.A. EDUCATION AND REFORM ACT MANY WAYS THE MOST DAMAGING BILL THAT'S DISCUSSED UNDER THIS RULE, WE ARE CELEBRATING THE AMERICAN WITH THE DISABILITIES ACT. SIGNED INTO LAW 28 YEARS AGO TO ALLOW AMERICANS WITH DISABILITIES TO HAVE EVERY KIND OF OPPORTUNITY THAT EVERYBODY ELSE DOES. FREE FROM DISCRIMINATION IN THE WORKPLACE AND SCHOOLS AND TRANSPORTATION. IT WAS A LANDMARK BIPARTISAN EFFORT. TITLE 3 OF THE AMERICAN WITH DISABILITIES ACT PROHIBITS PLACES OF PUBLIC ACCOMMODATION FROM DISCRIMINATING AGAINST INDIVIDUALS WITH DISABILITIES AND SETS A MINIMUM REASONABLE STANDARD FOR ACCESSIBILITY. WHICH HAS BEEN THE LAW OF OUR LAND FOR THREE DECADES. H.R. 620 WOULD MAKE IT MORE DIFFICULT FOR PEOPLE WITH DISABILITIES TO HAVE THEIR RIGHTS GUARANTEED UNDER THE AMERICANS WITH DISABILITIES ACT. UNDER THIS BILL, INSTEAD OF REQUIRING THE PUBLIC ESTABLISHMENT TO COMPLY WITH THE A.D.A., THE BURDEN WOULD SHIFT TO THE VICTIM OF THE DISCRIMINATION TO PROVE A VIOLATION HAS OCCURRED. YOU'RE FORCING DISABLED AMERICANS TO GO AROUND WITH CLIP BOARDS AND INSPECTOR GOGGLES RATHER THAN FORCING BUSINESSES TO COMPLY. IT'S SIMPLY NOT FAIR. IT'S BEEN NEARLY THREE DECADES SINCE THE AMERICANS WITH DISABILITIES ACT WAS SIGN INTO LAW. ALL TITLE 3 OF THE A.D.A. ACT REQUIRES IS BUSINESSES MAKE THEIR FACILITIES ACCESSIBLE TO THE EXTENT IT'S READILY ACHIEVABLE. A VERY REASONABLE BURDEN UNDER THE LAW. AND BUSINESSES FLOURISHED OVER THE LAST THREE DECADES. WE HAVE HAD CONTINUED ECONOMIC GROWTH. I HAVE HEARD FROM SO MANY OF MY CONSTITUENTS ABOUT THIS BILL, INCLUDING CARY BROWN, ASSISTANT ADVOCACY SPECIALIST, SERVING DISABLED RESIDENTS. SHE SAID, QUOTE, THE STANDARDS SET FORTH IN THE A.D.A. ARE DESIGNED TO ENSURE PEOPLE WITH DISABILITIES CAN ACCESS BASIC PUBLIC ACOME CAN DAYSES. REQUIRING THEM TO FILE A COMPLAINT TO ENFORCE COMPLIANCE OF A 28-YEAR-OLD LAW IS A STEP BACKWARDS. END QUOTE. I THINK CAN ACCESS BASIC THIS REPUBLICAN PLAN TO TURN EVERYBODY WITH KISS ABLED AN ATTORNEY BECAUSE THAT'S WHAT THEY NEED TO BE TO ASSERT THE RIGHTS THEY HAVE UNDER THE LAW. THEY ARE SIGNIFICANT IF NOT UNIVERSAL OPPOSITION TO H.R. 620 FROM HEALTH AND DISABILITY ADVOCACY GROUPS. INCLUDING EPILEPSY FOUNDATION, NATIONAL COUNCIL ON DISABILITIES, ASOCIAL -- AMERICAN ASSOCIATION OF PEOPLE WITH DISABILITIES. WE NEW, MR. SPEAKER, THIS PRESIDENT HAS MOCKED AND TAKEN ON AMERICANS WITH DISABILITIES. I THOUGHT IT WAS ABOVE THE REPUBLICANS IN CONGRESS TO JOIN PRESIDENT TRUMP. IN ASSAULTING THE RIGHTS OF THOSE WITH DISABILITIES. H.R. 620 WILL NOT ALLOW PEOPLE WITH DISABILITIES TO IMMEDIATELY FILE A.D.A. VIOLATION, DENYING ACCESS TO BUILDINGS DUE TO A LENGTHY LEGAL PROCESS. WHO HAS TIME TO WAIT SEVERAL YEARS TO ACCESS A BUILDING YOU NEED TO BE IN BECAUSE OF YOUR JOB. IT SIMPLY DOESN'T MAKE SENSE. THAT MEANS PEOPLE WITH DISABILITIES WILL WAIT WEEKS, MONTHS, OR YEARS JUST TO GAIN THE ACCESS THAT IS REQUIRED UNDER LAW. FOR BUSINESSES, THERE'S SIMPLY NO INCENTIVE TO ADHERE TO A.D.A. GUIDELINES. ALL OF THIS COMBINED HARMS DISABLED AMERICANS AND WEAKENS LEGAL PROTECTIONS THAT FOR DECADES REPUBLICANS AND DEMOCRATS HAVE BEEN PROUD OF IN THE AMERICANS WITH DISABILITIES ACT. I RESERVE THE BALANCE OF MY TIME.

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                          • 12:44:14 PM

                            TEMPORE MEMBERS

                            MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIES OR PERSONAL…

                            MEMBERS ARE REMINDED TO REFRAIN FROM ENGAGING IN PERSONALITIES OR PERSONAL REMARKS TOWARD THE PRESIDENT. THE GENTLEMAN FROM COLORADO RESERVES. THE GENTLEMAN FROM GEORGIA IS RECOGNIZED.

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                          • 12:44:20 PM

                            MR. COLLINS

                            THANK YOU, MR. SPEAKER. I THINK OF THE THINGS, THERE ARE A LOT OF THINGS…

                            THANK YOU, MR. SPEAKER. I THINK OF THE THINGS, THERE ARE A LOT OF THINGS WE CAN AGREE ON AND DISAGREE ON O, ONE OF THE THINGS FROM MY POSITION, ESPECIALLY WITH A DAUGHTER WHO HAS -- THIS IS NOT AN INSULT TO DISABILITIES. IT'S KEEPING THEM FROM BEING ABUSED AND USED BY FOLKS WHO DON'T EVEN HAVE DISABILITIES AND ASKING FOR MONEY AND NOT CARING IF THE ISSUE GETS FIXED OR NOT. AT THE END OF THE DAY WHICH WOULD SOMEBODY RATHER HAVE? A PERSON IN A WHEELCHAIR HAVE SOMETHING FIXED OR PAY AN ATTORNEY? PUT THIS IN CONTEXT OF WHAT IT IS. WITH THAT, MR. SPEAKER, I'M HAPPY TO YIELD AS MUCH TIME AS HE MAY CONSUME TO THE CHAIRMAN FROM CALIFORNIA, MR. ROYCE.

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                          • 12:44:56 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM CALIFORNIA, MR. ROYCE, IS RECOGNIZED.

                          • 12:45:00 PM

                            MR. ROYCE

                            THANK YOU, MR. SPEAKER. I'M RISING IN STRONG SUPPORT OF THE RULE. ON THE…

                            THANK YOU, MR. SPEAKER. I'M RISING IN STRONG SUPPORT OF THE RULE. ON THE UNDERLYING BILL. INCLUDED IN THIS PACKAGE OF BILLS BEFORE US TODAY IS THE NATIONAL SECURITIES EXCHANGE REGULATORY PARITY ACT. THIS IS A BIPARTISAN BILL. AND IT'S TO ENSURE FUTURE REGULATION CAN KEEP PACE AND NOT STIFLE INNOVATION IN OUR EQUITY MARKETS. THE S.E.C.'S INTERPRETATION OF THE CURRENT LAW CREATED A TWO-TIER PLAYING FIELD BY GIVING TREATMENT TO THREE NAMED EXCHANGESES. ENACTMENT OF THE SECURITIES EXCHANGE PARITY ACT RELATES TO THE 33 SECURITIES ACT AND THE BILL WOULD MAKE IT CLEAR THAT THE BLUE SKY EXEMPTION BY STATE-BY-STATE REGISTRATION IS EXTENDED TO ALL NATIONAL SECURITIES EXCHANGES REGISTERED WITH THE S.E.C. WHY IS THAT PARTICULAR EXEMPTION IMPORTANT? IF YOU WERE TO ASK ANYONE FROM MASSACHUSETTS, FOR EXAMPLE, WHO TRIED TO INVEST IN APPLE DURING ITS I.P.O., STATE RATHEORS BAND -- REGULATEORS BANNED THE STOCK THAT DIDN'T HAVE SOLID EARNINGS FOUNDATIONS. TODAY APPLE IS UP 43,000% AND FLIRTING WITH A MARKET CAP. THE BILL BEFORE US TODAY INCREASES THE NUMBER OF SECURITIES THAT WILL NOT BE FORCED TO REGISTER ON A STATE-BY-STATE BASIS WHILE MAINTAINING IMPORTANT INVESTOR PROTECTIONS. THE S.E.C. AND WILL REMAIN THE PRIMARY ENFORCEMENT AGENCY OF SECURITIES FRAUD. THIS BILL DOESN'T IMPACT THE OVERSIGHT OR ENFORCEMENT AUTHORITY. THE S.E.C. MUST APPROVE INDIVIDUAL EXCHANGE LISTING STANDARDS. THEY WON'T BE ALLOWED TO PRE-SET THE STANDARDS. STATE BY STATE SECURITIES REGULATION NOT ONLY POTENTIAL INVESTORS FROM PROMISING OPPORTUNITIES LIKE APPLE, BUT IT CAN HAVE SIGNIFICANT NEGATIVE ECONOMIC CONSEQUENCES BY CHILLING PUBLIC OFFERINGS AND OBVIOUS INNOVATION. THE NATIONAL SECURITIES EXCHANGE PARITY ACT INCLUDES THEM TO BE LISTING VENUES AND SOURCE OF CAPITAL FOR COMPANIES LOOKING TO EXPAND AND HIRE MORE WORKERS. THE BILL IS IDENTICAL TO LANGUAGE INCLUDED IN THE LARGER REGULATORY PACKAGE ALREADY PASSED BY THE SENATE BANKING COMMITTEE. I URGE MY COLLEAGUES TO SUPPORT THIS COMMONSENSE TECHNICAL FIX AND GOOD FOR MARKET COMPETITION. IT'S GOOD FOR CAPITAL FORMATION AND I URGE PASSAGE OF THE RULE AND THE UNDERLYING BILL AND WITH THAT, MR. SPEAKER, I YIELD BACK.

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                          • 12:48:09 PM

                            TH SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM CALIFORNIA YIELDS BACK. THE GENTLEMAN FROM COLORADO IS…

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

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                          • 12:48:14 PM

                            MR. POLIS

                            I WOULD LIKE TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM RHODE ISLAND, MR.…

                            I WOULD LIKE TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM RHODE ISLAND, MR. LANGEVIN.

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                          • 12:48:19 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM RHODE ISLAND IS RECOGNIZED FOR FIVE MINUTES.

                          • 12:48:25 PM

                            MR. LANGEVIN

                            I WANT TO THANK THE GENTLEMAN FOR YIELDING. MR. SPEAKER. AS THE FIRST QUAD…

                            I WANT TO THANK THE GENTLEMAN FOR YIELDING. MR. SPEAKER. AS THE FIRST QUAD PLIEGEIC ELECT TODD CONGRESS I'M NOT HERE JUST AS A MEMBER OF CONGRESS BUT SOMEONE HERE WITH A DISABILITY. AND I HOPE PROVIDING A VOICE FOR SO MANY IN OUR COUNTRY THAT ALSO HAVE DISABILITIES TO GIVE MY PERSPECTIVE ON H.R. 620 THE MISNAMED A.D.A. REFORM ACT. THE AMERICAN DISABILITIES ACT WAS PASSED NEARLY 30 YEARS AGO AS AN ENDURING PROMISE TO A LARGE POPULATION OF AMERICANS THAT DISCRIMINATION INCLUDEING ACCESS TO PUBLIC ACCOMMODATIONS WILL NOT BE TOLERATED. NOW THERE HAVE BEEN DECADES FOR PEOPLE AND ORGANIZATIONS TO UNDERSTAND AND IMPLEMENT PROVISIONS OF THE A.D.A. AND FOR THOSE WHO ARE JUST LEARNING ABOUT THE A.D.A. OR WHO NEED A REFRESHER ON THE LAW, THERE ARE MANY RESOURCES THAT PROVIDE INFORMATION AND TECHNICAL ASSISTANCE. THE A.D.A. PROVIDES A LIFELINE TO SO MANY WHO NEED ACCESS TO CLASSROOMS, REST ROOMS, BUSINESSES, RESTAURANTS, TRANSIT AND SO MUCH MORE. AND I RECOGNIZE THAT THERE ARE SOME INDIVIDUALS WHO ARE UNFAIRLY TARGETED IN STATES THAT HAVE FAILED TO PROTECT AGAINST THINGS LIKE THESE DRIVE-BY LAWSUITS. BUT THE ROOT OF THE PROBLEM IS NOT THE A.D.A., IT'S THE UNSCRUPULOUS LAWYERS WHO TAKE ADVANTAGE OF THE LAW. NOW THE A.D.A. DOES NOT ALLOW PEOPLE TO SUE FOR COMPENSATORY OR PUNITIVE DAMAGES, ONLY INJUNKTIVE RELIEF, MEANING THAT YOU SOLVE THE PROBLEM. H.R. 620 DOES NOTHING TO ADDRESS THE PROBLEM HAPPENING AT THE STATE LEVEL, NOR DOES IT TARGET IMMORAL LAWYERS. INSTEAD ITASAKA CRY FILESES THE RIGHTS OF MILLIONS BY REDUCING THE IMPACT AND PROTECTIONS OF THE A.D.A. WHICH SO MANY HAVE COME TO DEPEND ON. HOW NOW IT DOES SO BY CREATING A NOTICE AND CURE REGIME THAT WILL CREATE A A DISINCENTIVE FOR A.D.A. COMPLIANCE. A WRITTEN NOTICE THAT GIVES 60 DAYS TO ACKNOWLEDGE RECEIPT OF A COMPLAINT AND THEN 120 DAYS TO DEMONSTRATE AND I QUOTE SUBSTANTIAL PROGRESS, END QUOTE, IN THE REMOVAL OF AN OBSTRUCTION IGNORES THE A.D.A. THAT SUPPORT A RIGHT TO INCLUSION AND RESPECT AND IT TELLS PEOPLE WITH DISABILITIES THAT WE ARE NOT WORTHY OF INCLUSION UNTIL SOMEONE IS CAUGHT AND EVEN THEN, A REMEDY IS NOT GUARANTEED. MR. SPEAKER, I AM GRATEFUL THAT THE RULES COMMITTEE CHOSE TO MAKE IN ORDER THE BIPARTISAN AMENDMENT THAT I WILL OFFER WITH MY COLLEAGUE AND CO-CHAIR OF THE BIPARTISAN DISABILITIES CAUCUS, REPRESENTATIVE GREG HARPER, BUT TO BE FRANK, THIS BILL SHOULD NEVER HAVE BEEN REPORTED OUT OF THE JUDICIARY COMMITTEE IN THE FIRST PLACE, MUCH LESS TO THE FLOOR. H.R. 620, MR. SPEAKER, IS A BLUNT TOOL THAT WRONGFULLY IMPEDES THE RIGHT OF PEOPLE WITH DISABILITIES. H.R. 620 -- IF H.R. 620 PASSES WITH ANY KIND OF NOTICE AND CURE PERIOD, WE WILL RETURN TO THE DAYS WHEN DISCRIMINATION WAS COMMONPLACE AND WILL BE BECAUSE ELECTED OFFICIALS VOTESED TO REMOVE CIVIL RIGHTS INSTEAD OF PROTECTING THEM. THANK YOU, MR. SPEAKER, AND I YIELD BACK.

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                          • 12:52:13 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM RHODE ISLAND YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS…

                            THE GENTLEMAN FROM RHODE ISLAND YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS RECOGNIZED.

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                          • 12:52:18 PM

                            MR. COLLINS

                            IT'S MY PLEASURE TO YIELD AS MUCH TIME AS HE MAY CONSUME TO MY COLLEAGUE…

                            IT'S MY PLEASURE TO YIELD AS MUCH TIME AS HE MAY CONSUME TO MY COLLEAGUE FROM ARKANSAS, MR. HILL.

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                          • 12:52:26 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM ARKANSAS IS RECOGNIZED.

                          • 12:52:30 PM

                            MR. HILL

                            I APPRECIATE THE OPPORTUNITY TO COME BEFORE THE HOUSE DURING THIS RULES…

                            I APPRECIATE THE OPPORTUNITY TO COME BEFORE THE HOUSE DURING THIS RULES DEBATE ON THIS PACKAGE OF BIPARTISAN BILLS THAT HAVE BEEN WORKED ON FOR TWO CONGRESSES NOW. AND THAT ADDRESS A NUMBER OF ISSUES THAT I THINK MEMBERS ON BOTH SIDES OF THE AISLE AND OUR COMMITTEE RECOGNIZED WOULD IMPROVE THE CAPITAL MARKET SYSTEM, IMPROVE ACCESS TO CAPITAL FOR BUSINESS AND CONSUMERS AND ALSO REDUCE THE RED TAPE, THE BUREAUCRACY ASSOCIATED WITH TRYING TO RUN A COMMUNITY BANK, PROVIDE SERVICES TO OUR CONSUMERS AND OUR -- BOTH BUSINESS AND FAMILIES. THAT HAS BEEN MADE SO CHALLENGING SINCE THE PASSAGE OF THE DODD-FRANK ACT ALMOST EIGHT YEARS AGO. I WAS COMING TO WASHINGTON YESTERDAY AND I WAS READ INTHE WEEKEND BUSINESS SECTION AND THERE WAS A STORY THERE ABOUT RICHARD GRIFFIN FROM CRAWFORD ARKANSAS WHO OWNED A COMMUNITY BANK THERE FOR DECADES, $30 MILLION BANK AND HE SAID WITH HIS 13 EMPLOYEES HE JUST COULDN'T COMPLY WITH THE LEVEL OF REGULATORY BURDEN FOLLOWING DODD-FRANK THAT WAS SO GEARED TO OUR BIGGEST FINANCIAL INSTITUTIONS, OUR MOST COMPLEX FINANCIAL INSTITUTIONS. COMPANIES LIKE THOSE HEAD QUARTERERED UP IN NEW YORK AND HE FELT COMPELLED TO LEAVE THAT BUSINESS, THE LOCAL BOARD OF DIRECTORS AND TURN IT OVER TO AN OUT-OF-STATE COMPANY. AND CRAWFORD, ARKANSAS IS A GOOD TOWN AND DESERVES A GOOD BANKING PRESENCE, HOME TO GEORGIA PACIFIC AND ALL OF THEIR ACTIVITIES THERE. SO THESE BILLS, MR. SPEAKER, ARE AS I SAY BIPARTISAN AND THEY ARE NEEDED ACROSS THIS COUNTRY. AND LET ME JUST TOUCH ON A FEW OF THEM. THE ONES THAT I THINK PROVIDE THE MOST BENEFIT TO COMMUNITY BANKERS AND BUSINESSES AND CUSTOMERS OF THOSE LOCAL BANKS ARE FIRST OF ALL, MR. STIVERS' BILL, WHICH ELIMINATES A WELL INTENDED LICENSING PROVISION IF YOU WANTED TO MAKE MORTGAGE LOANS AFTER THE 2008 CRISIS, CONGRESS THOUGHT IT WAS A GOOD IDEA TO MAKE SURE MORTGAGE LENDERS WERE QUALIFIED, SO THEY MADE THEM GET A LICENSE. WE CAN DEBATE WHETHER THAT WAS TOO MUCH WORK OR NOT OR WHETHER IT WAS WORTH WHILE OR NOT. THEY MADE BANKS GET IT AND NONBANKS. IN THIS BILL, MR. STIVERS SAID IF YOU ARE GOING TO CHANGE JOBS AND HOLD A MORTGAGE LICENSE, THAT YOU JUST HAVE A TRANSITION PERIOD WHERE YOU DON'T HAVE TO REQUALIFY FOR THAT IF YOU ARE GOING TO WORK FOR A NONBANK OR WORK FOR SOMEBODY IN ANOTHER STATE. IT ONLY PASSED OUR COMMITTEE 60-0. IT DOESN'T GET MUCH MORE BIPARTISAN THAN THAT. THAT WILL HELP BAVERAGES REMOVE RED TAPE, RECRUIT LOAN OFFICERS AND GETTING THEM TO WORK FASTER SERVING CUSTOMERS. LIKEWISE, THE TRID IMPROVEMENT ACT IS SOMETHING THAT I'VE WORKED ON IN A VARIETY OF WAYS AND IT'S INCLUDED IN THIS PACKAGE. AND IT ALLOWS STATES WHERE YOU CAN BUY BOTH A PERSONAL POLICY FOR YOUR TITLE INSURANCE AS WELL AS THE TITLE COVERAGE FOR CLOSING, SHOW ME THE REAL DISCOUNT. THE REAL IRONY HERE IS WHEN ELIZABETH WARREN WAS A STAFFER AND COLLEGE PROFESSOR, ONE OF HER GOALS FOR THE CFPB WAS SIMPLIFICATION AND TAKE THESE COMPLICATED FORMS AND MAKE IT EASIER TO USE. HERE'S AN EXAMPLE OF THE OPPOSITE. THE NEW TRUTH IN LENDING FORMS FOR REAL ESTATE SETTLEMENTS WAS MADE MORE COMPLICATED. AFTER EIGHT YEARS OF DEALING WITH IT, THIS IS A CLASSIC DIFFERENCE OF TRYING TO MAKE IT SIMPLER. LET'S SHOW THE CONSUMER WHAT THE CLOSING COSTS ARE FOR THEIR TITLE INSURANCE. THIS WILL SPEED MORTGAGE CLOSINGS AND REDUCE ERRORS IN MORTGAGE CLOSINGS AND REDUCE CONSUMER CONFUSION ABOUT THE SO-CALLED KNOW BEFORE YOU OWE RULE. I WOULD ARGUE THIS RULE HAS MADE IT MUCH MORE DIFFICULT TO KNOW WHAT YOU OWE BEFORE YOU BORROW IT. AND THIS IS A SMALL STEP IN IMPROVING THAT. SO THESE THINGS, MR. SPEAKER, HELP OUR COMMUNITY BANKS. AND THERE IS ONE OTHER IN THIS PACKAGE, MR. MCHENRY'S BILL WHICH ALLOWS COMMUNITY BANKS THAT ORIGINATE LOANS, CONSUMER LOANS, COMMERCIAL LOANS THAT ARE SELLING THOSE LOANS TO A NONBANK, A NONBANK SERVICER OR NONBANK PACKAGER TO BE ABLE TO PASS THROUGH THE RATE THAT THEY ORIGINATED THE LOAN FOR. THERE IS A SUPREME COURT CASE THAT SAID THAT YOU CAN'T PASS THROUGH THE RATE AND STATE BANKING LAWS DON'T PREEMPT OUR STATE USERY LAWS FOR THIS KIND OF WORK. I COMMEND MR. MCHENRY BECAUSE THIS PROVIDES LIQUID TO OUR BANKING SYSTEM AND MAKES PRODUCTS MORE ACCESSIBLE AND OUR SMALL COMMUNITY BANKS MORE COMPETITIVE. AND I'LL CLOSE BY JUST TOUCHING ON A COUPLE OF THE OTHER MEASURES THAT I THINK HELP BUSINESSES HELP CAPITAL MARKETS, HELP CAPITAL FLOW. YOU HEARD MR. ROYCE TALK ABOUT HIS BILL THAT WILL HELP CAPITAL MARKETS FLOW AND CREATE PARITYY AMONG OUR EXCHANGES AND LOWERING COSTS FOR COMPANIES WANTING TO GO PUBLIC. RAISE CAPITAL ON THE PUBLIC MARKETS. MR. DUFFY HAS A BILL THAT REQUIRES THE S.E.C. TO ACTUALLY GET A SUBPOENA IF THEY WANT TO GET SOURCE CODE FROM A CAPITAL MARKET PROVIDER, SOMEONE WHO IS MANAGING MONEY, SOMEONE WHO IS OFFERING TO MANAGE PORTFOLIOS OR OFFER A MUTUAL FUND COMPANY. AND THIS IS VERY, VERY HELPFUL. I THINK WHEN YOU WANT TO GET A SECRET SAUCE FOR YOUR BUSINESS AND THE GOVERNMENT WANTS IT, YOU OUGHT TO HAVE A SUBPOENA. THAT'S ALL THIS BILL DOES. IT DOES NTH CHANGE THE RULES ABOUT THAT AND DOESN'T CHANGE ANYTHING OTHER THAN SAYING IF YOU WANT THIS INFORMATION, YOU OUGHT TO GO AND GET A SUBPOENA. AND I BELIEVE THAT WILL IMPROVE CAPITAL FORMATION. SO, MR. SPEAKER, THESE ARE GOOD BILLS AND THESE ARE BIPARTISAN BILLS, THESE ARE BILLS THAT WE WORKED ON FOR TWO CONGRESSES THAT WILL HELP INCREASE ACCESS TO CREDIT, LOWER THE COST OF THAT CREDIT, INCREASE CAPITAL FLOWS TO THE BUSINESS SECTOR TO SUPPORT THE GROWTH THAT THE AMERICAN PEOPLE WANT. AND I APPRECIATE THE RULES COMMITTEE ALLOWING ME TO SPEAK ON THESE BILLS. I APPRECIATE CHAIRMAN HENSARLING PUTTING THEM TOGETHER. AND TO MY FRIENDS ON THE OTHER SIDE, THESE ARE BILLS THAT WENT THROUGH REGULAR ORDER. THESE ARE BILLS THAT ARE BIPARTISAN AND THESE ARE BILLS THAT HAVE SUPPORT OF THE OPPOSITION. WE HAVE PUT THEM TOGETHER IN A BIPARTISAN PACKAGE TODAY UNDER THIS RULE BECAUSE OUR FRIENDS DOWN THE HALL IN THE UNITED STATES SENATE ARE RAPIDLY MOVING A BIPARTISAN PACKAGE OF IMPROVEMENTS FOR OUR CAPITAL MARKETS AND OUR BANKS, SOMETHING THAT WE WANT, SOMETHING WE HAVE WAITED SOME EIGHT YEARS FOR. AND SO THIS ALLOWS US TO WORK BETTER WITH OUR COLLEAGUES OVER IN THE SENATE WHERE 14 DEMOCRATS HAVE PARTNERED WITH THE SENATE BANKING COMMITTEE TO MOVE BIPARTISAN LEGISLATION TO HELP US GROW OUR ECONOMY. I YIELD BACK THE TIME YOU HAVE AFFORDED ME AND I THANK YOU FOR THAT TIME.

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                          • 01:00:42 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM ARKANSAS YIELDS BACK. THE GENTLEMAN FROM COLORADO IS…

                            THE GENTLEMAN FROM ARKANSAS YIELDS BACK. THE GENTLEMAN FROM COLORADO IS RECOGNIZED. .

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                          • 01:00:52 PM

                            MR. POLIS

                            PRESIDENT TRUMP CONTINUES TO INSIST SOMEHOW DEMOCRATS DON'T CARE ABOUT…

                            PRESIDENT TRUMP CONTINUES TO INSIST SOMEHOW DEMOCRATS DON'T CARE ABOUT FIXING DACA. I BEG TO DIFFER. THIS IS THE 22ND TIME WE TRIED TO BRING THE BIPARTISAN BILL, H.R. 3440, THE DREAM ACT, TO THE HOUSE FLOOR FOR A VOTE. WE MADE OUR POSITION CLEAR. WE WANT IMMIGRATION POLICIES THAT REFLECT OUR VALUES THAT MAKE AMERICA SAFER WHILE REALIZING, OF COURSE, THAT WE ARE A NATION BOTH OF LAWS AND OF IMMIGRANTS. YESTERDAY, THE U.S. CHAMBER OF COMMERCE AGAIN URGED CONGRESS TO PASS LEGISLATION THAT PROVIDES PERMANENT RELIEF FOR DREAMERS. EVEN THE CONSERVATIVE CATO INSTITUTE ESTIMATES DEPORTING DREAMERS WILL RESULT IN A $280 BILLION REDUCTION IN ECONOMIC GROWTH OVER THE NEXT DECADE. MR. SPEAKER, IF WE DON'T CARE ABOUT THE FAMILIES, ABOUT THE YOUNG PEOPLE AFFECTED, SURELY, MR. SPEAKER, YOU CARE ABOUT $280 BILLION THAT WILL BE LOST IF REPUBLICANS FAIL TO ACT. PROTECTING THESE ASPIRING AMERICANS IS NOT ONLY THE RIGHT THING TO DO MORALLY, IT'S THE RIGHT THING TO DO FOR OUR COUNTRY AND FOR OUR ECONOMY. IF WE DEFEAT THE PREVIOUS QUESTION TODAY FOR THE 23RD TIME, I WILL OFFER AN AMENDMENT TO THE RULE TO BRING UP H.R. 3440, THE DREAM ACT. THIS BIPARTISAN, BICAMERAL LEGISLATION WOULD FINALLY HELP HUNDREDS OF THOUSANDS OF YOUNG PEOPLE WHO ARE AMERICAN IN EVERY WAY EXCEPT FOR ON PAPER. MR. SPEAKER, I ASK UNANIMOUS CONSENT TO INSERT THE TEXT OF MY AMENDMENT IN THE RECORD ALONG WITH EXTRANEOUS MATERIAL IMMEDIATELY PRIOR TO THE VOTE ON THE PREVIOUS QUESTION.

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                          • 01:02:21 PM

                            TEMPORE WITHOUT

                            TO DISCUSS OUR PROPOSAL, I YIELD THREE MINUTES TO THE GENTLEMAN FROM…

                            TO DISCUSS OUR PROPOSAL, I YIELD THREE MINUTES TO THE GENTLEMAN FROM CALIFORNIA, MR. CORREA.

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                          • 01:02:27 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED FOR THREE MINUTES.

                          • 01:02:29 PM

                            MR. CORREA

                            THANK YOU, MR. SPEAKER. AGAIN, MR. SPEAKER, I STAND ON THIS FLOOR TO SPEAK…

                            THANK YOU, MR. SPEAKER. AGAIN, MR. SPEAKER, I STAND ON THIS FLOOR TO SPEAK ABOUT THE DREAMERS, AND THIS TIME I ASK A SIMPLE QUESTION. WHAT HAPPENED? FOR MONTHS HERE IN WASHINGTON, WE COULDN'T PASS A BUDGET, WE REFUSED TO PASS A BUDGET. NUMEROUS CONTINUING RESOLUTIONS WERE BROUGHT UP. WE EVEN SHUT DOWN GOVERNMENT, AND THE PRESS TALKED ABOUT THE DREAMERS. IT WAS ALL ABOUT THE DREAMERS. YET, LAST WEEK AFTER THE BUDGET SPENDING CAPS WERE RAISED FOR BOTH MILITARY AND NONMILITARY EXPENDITURES, WE GOT A BUDGET. AND THAT WAS A BUDGET THAT WAS VOTED ON BY BOTH DEMOCRATS AND REPUBLICANS. SO I GUESS, LADIES AND GENTLEMEN, THIS WAS NOT ABOUT THE DREAMERS BECAUSE WE STILL DON'T HAVE A FIX FOR THE DREAMERS. YET, 80% OF OUR PUBLIC SUPPORTS A FIX FOR THE DREAMERS. 80% OF OUR PUBLIC SUPPORTS A PATHWAY TO CITIZENSHIP FOR OUR DREAMERS. AND EVEN OUR PRESIDENT WANTS A FIX FOR THE DREAMERS. WHY? BECAUSE ALL OF US RECOGNIZE THAT DREAMERS ARE SOLDIERS, TEACHERS, POLICE OFFICERS, THEY ARE EFFECTIVELY OUR FRIENDS AND OUR NEIGHBORS. YET, HERE WE ARE AGAIN TODAY NOT SURE OF THE FUTURE FOR DREAMERS IN THIS COUNTRY. FOLKS, IT'S TIME TO STOP USING DREAMERS AS POLITICAL PAWNS IN A BIGGER POLITICAL CHESS GAME. LAST WEEK AT THE STATE OF THE UNION, MY GUEST WAS A DREAMER FROM MY DISTRICT. SHE'S A COLLEGE STUDENT MAJORING IN CHEMISTRY, AND I SAY TO ALL OF YOU, SHE IS GOING TO MAKE A TREMENDOUS SCIENTIST. WE NEED SCIENTISTS IN THIS COUNTRY. AS YOU KNOW, AMERICA IS THE LAND OF IMMIGRANTS, AND ALL OF US HERE ARE IMMIGRANTS. AS YOU KNOW, 75 OF OUR FORTUNE 500 COMPANIES ARE LED BY IMMIGRANTS. AND WE NEED MORE HARDWORKING IMMIGRANTS. AND THAT'S WHAT DREAMERS ARE. THEY'RE HARD WORKING, THEY STUDY HARD, PAY THEIR TAXES, FOLLOW THE LAW AND, YES, LADIES AND GENTLEMEN, DREAMERS HAVE BEEN VETTED. LET ME REPEAT. DREAMERS ARE IMMIGRANTS THAT HAVE BEEN VETTED. AND YET, TODAY, WE STILL ASK, WHAT IS GOING TO HAPPEN TO DREAMERS? MR. SPEAKER, LET'S NOT LIVE WITH ANY REGRETS. LET'S NOT LOOK BACK TOMORROW, NEXT YEAR, 10 YEARS, 20 YEARS FROM NOW AND SAY WE COULD HAVE BEEN', SHOULD'VE', WOULD'VE', MR. SPEAKER. LET'S VOTE ON H.R. 3440 AND LET'S DO THE RIGHT THING. MR. SPEAKER, I YIELD.

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                          • 01:05:23 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM CALIFORNIA YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS…

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

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                          • 01:05:26 PM

                            MR. COLLINS

                            THANK YOU, MR. SPEAKER. I WOULD INQUIRE FROM MY FRIEND FROM COLORADO IF…

                            THANK YOU, MR. SPEAKER. I WOULD INQUIRE FROM MY FRIEND FROM COLORADO IF YOU HAVE ANY MORE SPEAKERS.

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                          • 01:05:33 PM

                            MR. POLIS

                            WE HAVE NO MORE SPEAKERS.

                          • 01:05:36 PM

                            MR. COLLINS

                            THEN I'LL LET YOU CLOSE.

                          • 01:05:39 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM COLORADO IS RECOGNIZED TO CLOSE DEBATE FOR THE MINORITY.

                          • 01:05:43 PM

                            MR. POLIS

                            I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

                          • 01:05:45 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 01:05:46 PM

                            MR. POLIS

                            I AM NOT SURE WHAT'S WORSE, THE FACT WE ARE TAKING UP LEGISLATION THAT…

                            I AM NOT SURE WHAT'S WORSE, THE FACT WE ARE TAKING UP LEGISLATION THAT WOULD MAKE IT MORE DIFFICULT FOR AMERICANS TO GAIN ACCESS TO BUILDINGS IN THEIR COMMUNITY, INCLUDING BUILDINGS THAT THEY WORK IN, OR THAT WE'RE CONSIDERING LEGISLATION THAT MAKES IT EASIER FOR PAYDAY LENDERS TO PREY ON VULNERABLE CONSUMERS BY FORCING WASHINGTON, D.C., BIG GOVERNMENT REPUBLICAN VALUES ON OUR STATES' RIGHTS, OR IS IT WORSE WE ARE NOT TAKING UP LEGISLATION TO PROTECT THE HUNDREDS OF THOUSANDS OF DREAMERS AT RISK OF DEPORTATION AT THE BEGINNING OF MARCH UNLESS WE ACT? MY REPUBLICAN COLLEAGUES ARE WORKING HARD TO PUT WASHINGTON, D.C., BIG GOVERNMENT AHEAD OF PEOPLE, TO FORCE PEOPLE WITH DISABILITIES TO GET LAW DEGREES AND WANDER AROUND WITH NOTE PADS TO DOCUMENT WHENEVER THEY NEED TO GET INTO A BUILDING AND PUT PAYDAY LENDERS AHEAD OF HARDWORKING AMERICANS. INSTEAD, WE SHOULD FOCUS ON FINDING BIPARTISAN SOLUTIONS TO PROTECT ASPIRING AMERICANS TO BE FORCIBLY DEPORTED FROM THE ONLY COUNTRY THEY KNOW. I ASK MY COLLEAGUES TO VOTE NO ON THE RULE ON H.R. 2399 AND H.R. 620 AND YIELD BACK THE BALANCE OF MY TIME.

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                          • 01:06:57 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM COLORADO YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS…

                            THE GENTLEMAN FROM COLORADO YIELDS BACK. THE GENTLEMAN FROM GEORGIA IS RECOGNIZED TO CLOSE DEBATE ON THE LEGISLATION.

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                          • 01:07:02 PM

                            MR. COLLINS

                            THANK YOU, MR. SPEAKER. LOOK, I THINK THE INTERESTING THING IS EXPRESSED…

                            THANK YOU, MR. SPEAKER. LOOK, I THINK THE INTERESTING THING IS EXPRESSED BY OUR SPEAKERS, ESPECIALLY ON THE FINANCIAL SERVICES COMMITTEE, THESE ARE BIPARTISAN PIECES OF LEGISLATION, THEY CAME BACK, VETTED, MANY OF THEM THROUGH THE CHOICE ACT PREVIOUSLY BUT ALSO HAD BEEN COMING BACK IN AGREEMENT LOOKING ACROSS THE -- SOMETHING REALLY INTERESTING IS A BICAMERAL, BIPARTISAN PROCESS OF MAKING SURE CAPITAL AND THESE FINANCIAL SERVICES BILLS WE CAN MOVE AND CAN IMPROVE. I DO, AGAIN, TAKE A LITTLE BIT OF EXCEPTION AND, LOOK, RHETORIC IS RHETORIC. BUT DECEIT IS ALSO DECEIT IN THE SENSE WE DON'T TALK ABOUT, ESPECIALLY IN THIS A.D.A., I AM NOT SURE HOW OPPOSING A BILL THAT'S DESIGNED TO MAKE IMPROVEMENTS FOR FOLKS IS AND PROTECTING TRIAL LAWYERS WHO CAN GET PEOPLE WHO DO NOT EVEN HAVE DISABILITIES TO SUE OR TO SEND A DEMAND LETTER TO GET MONEY WITHOUT REQUIRING THE BUSINESS ACTUALLY SOLVE THE PROBLEM. THAT'S WHAT'S BEEN MISSING IN THIS DEBATE TODAY. THEY CAN ACTUALLY SEND A LETTER, SAY, HERE'S WHAT OUR PROBLEM IS, WE ARE GOING TO SUE YOU. IF YOU SEND US X AMOUNT OF DOLLARS, THAT WILL DO AWAY WITH IT, NEVER CONCERNED AT ALL IF THE DECISION IS ACTUALLY MAKING A DIFFERENCE IN THE BUSINESS OR THE LOCATION. THEY DON'T CARE. IN FACT, IF YOU WANTED TO OPPOSE THIS, YOU'RE ACTUALLY, FRANKLY, SAYING THAT'S A GOOD IDEA, I LIKE THAT. LET'S JUST PICK ON BUSINESS. AT THE END OF THE DAY, YOU KNOW THOSE FOLKS WITH DISABILITIES, THEY ARE JUST OUR KEY TO MAKING MORE MONEY. THAT'S WRONG. AND MY DAUGHTER IS NOT A MONEYMAKING PROPOSITION. THAT'S GOT TO CEASE. WE CAN DISAGREE ON WAYS ABOUT THIS. MY FRIEND FROM RHODE ISLAND AND I TALKED ABOUT THIS A GREAT DEAL. WE ARE OF THE SAME MIND AND SAME AGREEMENT. WE MAY DISAGREE ON SOMEHOW THIS IS -- HOW TO GET THERE BUT AT THE END OF THE DAY, THE A.D.A. IS STILL THERE, THE A.D.A. IS NOT GOING AWAY, THE A.D.A. IS NOT BEING GUTTED, THE A.D.A. IS NOT -- THERE'S NOBODY ASKING FOLKS WITH DISABILITIES HAVE LAW DEGREES. A LOT OF THEM HAVE AND THEY ARE MAKING A DIFFERENCE. ONE OF THE GREATEST EMPHASIS TO A BUSINESS THAT MAY HAVE AN IMPEDIMENT, THEY MAY HAVE PUT SOMETHING IN A WAY IS FOR SOMEONE WITH A DISABILITY SAY, BY THE WAY, I CAN'T GET IN HERE AND MOST BUSINESS OWNER DON'T SAY, I DON'T WANT DISABILITY FOLKS IN MY BUSINESS. NO, THEY WANT TO FIX IT BECAUSE THEY WANT TO DO BUSINESS. TO SAY ANYTHING ELSE IS SIMPLY UNFORTUNATELY AT TIMES TENDING TO SCARE PEOPLE FOR THE WRONG REASONS. IF YOU WANT TO DEFEND TRIAL LAWYERS AND OTHERS WHO ARE WILLING TO SUE WITH NONDISABLED PEOPLE TO SUE BUSINESS, TAKING GOOGLE PHOTOGRAPHS OF GOOGLE MAPS AND SAYING THIS IS A BUSINESS THAT WE'RE GOING TO EXTORT SOMETHING FROM, THEN VOTE AGAINST THIS BILL. THEN EXPLAIN TO SOMEBODY BE IN A WHEELCHAIR WHY YOU'RE USING THEM AND ALLOW THESE FOLKS TO USE THEM FOR THEIR PROFIT MOTIVES. THAT'S WRONG. WE CAN FIND A LOT OF WAYS TO FIND AGREEMENT HERE. LET'S AT LEAST LOOK AT THE SITUATION ON HOW IT IS. SO WITH THESE FINANCIAL SERVICES BILLS, THEY PROVIDE REGULATE RELIEF, THEY REDUCE UNNECESSARY BURDENS, THEY'RE BIPARTISAN. I AM URGING MY FRIENDS TO TAKE A LOOK AT THE AMENDMENTS. THERE ARE A LOT OF AMENDMENTES THAT WILL COME FORWARD ON THESE, ESPECIALLY THE A.D.A. BILL, AND OTHERS. LOOK AT THAT. LISTEN TO IT. TALK ABOUT IT. AT THE END OF THE DAY, NEVER FORGET WHAT IS ACTUALLY HAPPENING HERE AND WHAT WE'RE ACTUALLY SEEING IS SOMETHING THAT WE CAN MAKE A DIFFERENCE IN. AND WE'RE LOOKING TO MAKE A DIFFERENCE IN. I URGE MY COLLEAGUES ON BOTH SIDES OF THE AISLE TO SUPPORT THE RULE AND UNDERLYING BILL. WITH THAT I YIELD BACK THE BALANCE OF MY TIME AND MOVE THE PREVIOUS QUESTION ON THE RESOLUTION.

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                          • 01:10:33 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM GEORGIA YIELDS BACK. ALL TIME HAVING EXPIRED ON THIS…

                            THE GENTLEMAN FROM GEORGIA YIELDS BACK. ALL TIME HAVING EXPIRED ON THIS RESOLUTION, 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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                          • 01:10:48 PM

                            MR. POLIS

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

                          • 01:10:49 PM

                            I REQUEST THE YEAS AND NAYS.THE SPE

                            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. PURSUANT TO CLAUSE 8 AND CLAUSE 9 OF RULE 20, THIS 15-MINUTE VOTE ON ORDERING THE PREVIOUS QUESTION WILL BE FOLLOWED BY FIVE-MINUTE VOTES ON ADOPTING THE RESOLUTION, IF ORDERED, AND MOTIONS TO SUSPEND THE RULES IN REGARD -- WITH REGARD TO H.R. 3542 AND HOUSE RESOLUTION 129. 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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                          • 01:39:22 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE THE YEAS ARE 228. THE NAYS ARE 187. THE PREVIOUS QUESTION IS…

                            ON THIS VOTE THE YEAS ARE 228. THE NAYS ARE 187. THE PREVIOUS QUESTION IS ORDERED. THE QUESTION IS ON ADOPTION OF THE RESOLUTION. ALL THOSE IN FAVOR SAY AYE. ALL THOSE OPPOSED, NO. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT.

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                          • 01:39:37 PM

                            MR. POLIS

                            ON THAT I REQUEST A RECORDED VOTE.

                          • 01:39:40 PM

                            THE SPEAKER PRO TEMPORE

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

                            A RECORDED VOTE IS REQUESTED. THOSE FAVORING A RECORDED VOTE WILL RISE. A SUFFICIENT NUMBER HAVING ARISEN, A RECORDED VOTE IS ORDERED. 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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                          • 01:48:33 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE, THE YEAS ARE 225 AND THE NAYS ARE 1887. -- 187.

                          • 01:50:13 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS ARE 187. THE RESOLUTION IS…

                            ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS ARE 187. THE RESOLUTION IS ADOPTED.

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                          • 01:51:09 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS IS 187. THE RESOLUTION IS…

                            ON THIS VOTE, THE YEAS ARE 227 AND THE NAYS IS 187. THE RESOLUTION IS ADOPTED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. THE UNFIN EARNED BUSINESS IS VOTE ON THE MOTION OF THE THE GENTLEMAN FROM SOUTH CAROLINA, MR. WILSON, TO SUSPEND THE RULES AND PASS H.R. 3452 AS AMENDED ON WHICH YEAS AND NAYS ARE ORDERED.

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                          • 01:51:35 PM

                            THE CLERK

                            H.R. 3542, TO IMPOSE SANCTIONS AGAINST HAMAS BY REASON OF THE USE OF…

                            H.R. 3542, TO IMPOSE SANCTIONS AGAINST HAMAS BY REASON OF THE USE OF CIVILIANS AS HUMAN SHIELDS AND FOR OTHER PURPOSES.

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                          • 01:51:47 PM

                            THE SPEAKER PRO TEMPORE

                            THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND PASS THE BILL AS…

                            THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND PASS THE BILL AS AMENDED. 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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                          • 01:59:05 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE, THE YEAS ARE 415 AND THE NAYS ARE ZERO. 2/3 BEING IN THE…

                            ON THIS VOTE, THE YEAS ARE 415 AND THE NAYS ARE ZERO. 2/3 BEING IN THE AFFIRMATIVE, THE RULES ARE SUSPENDED AND WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. WITHOUT OBJECTION, THE TITLE IS AMENDED. THE UNFINISHED BUSINESS IS THE VOTE ON THE MOTION OF THE THE GENTLEMAN FROM SOUTH CAROLINA, MR. WILSON, TO SUSPEND THE RULES AND AGREE TO H.RES. 129 AS AMENDED ON WHICH THE YEAS AND NAYS ARE ORDERED. THE CLERK WILL REPORT THE TITLE OF THE RESOLUTION.

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                          • 01:59:39 PM

                            THE CLERK

                            HOUSE RESOLUTION 129, RESOLUTION CALLING ON THE DEPARTMENT OF DEFENSE,…

                            HOUSE RESOLUTION 129, RESOLUTION CALLING ON THE DEPARTMENT OF DEFENSE, OTHER ELEMENTS OF THE FEDERAL GOVERNMENT AND FOREIGN GOVERNMENTS TO INCENTIVIZE EFFORTS TO INVESTIGATE, RECOVER AND IDENTIFY ALL UNACCOUNTED FOR PERSONNEL OF THE UNITED STATES.

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                          • 01:59:55 PM

                            THE SPEAKER PRO TEMPORE

                            THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND AGREE TO THE…

                            THE QUESTION IS, WILL THE HOUSE SUSPEND THE RULES AND AGREE TO THE RESOLUTION AS AMENDED. 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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                          • 02:06:10 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE THE YEAS ARE 411 AND THE NAYS ARE ZERO. THE BILL IS PASSED.…

                            ON THIS VOTE THE YEAS ARE 411 AND THE NAYS ARE ZERO. THE BILL IS PASSED. WITHOUT OBJECTION, THE TITLE IS AMENDED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM MISSISSIPPI SEEK RECOGNITION?

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                          • 02:06:30 PM

                            >>

                            MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT THE COMMITTEE ON HOUSE…

                            MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT THE COMMITTEE ON HOUSE ADMINISTRATION BE DISCHARGED FROM FURTHER CONSIDERATION OF HOUSE CONCURRENT RESOLUTION 103 AND I ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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                          • 02:06:43 PM

                            THE SPEAKER PRO TEMPORE

                            THE CLERK WILL REPORT THE TITLE OF THE RESOLUTION.

                          • 02:06:46 PM

                            THE CLERK

                            HOUSE CONCURRENT RESOLUTION 103, CONCURRENT RESOLUTION AUTHORIZING THE USE…

                            HOUSE CONCURRENT RESOLUTION 103, CONCURRENT RESOLUTION AUTHORIZING THE USE OF EMANCIPATION HALL FOR A CEREMONY AS PART OF THE COMMEMORATION OF THE DAYS OF REMEMBRANCE OF VICTIMS OF THE HOLOCAUST.

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                          • 02:06:59 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 GENTLELADY FROM ALABAMA SEEK RECOGNITION?

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                          • 02:07:16 PM

                            MS. SEWELL

                            MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT MY NAME BE REMOVED AS CO-SPONSOR…

                            MR. SPEAKER, I ASK UNANIMOUS CONSENT THAT MY NAME BE REMOVED AS CO-SPONSOR OF H.R. 620.

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                          • 02:07:23 PM

                            THE SPEAKER PRO TEMPORE

                            THAT REQUEST CANNOT BE ENTERTAINED. THE HOUSE WILL COME TO ORDER. FOR WHAT…

                            THAT REQUEST CANNOT BE ENTERTAINED. THE HOUSE WILL COME TO ORDER. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS, MR. HENSARLING, SEEK RECOGNITION?

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                          • 02:08:18 PM

                            MR. HENSARLING

                            MR. SPEAKER, PURSUANT TO HOUSE RESOLUTION 736, I CALL UP H.R. 3299 AND ASK…

                            MR. SPEAKER, PURSUANT TO HOUSE RESOLUTION 736, I CALL UP H.R. 3299 AND ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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                          • 02:08:28 PM

                            THE SPEAKER PRO TEMPORE

                            THE CLERK WILL REPORT THE TITLE OF THE BILL.

                          • 02:08:31 PM

                            THE CLERK

                            UNION CALENDAR NUMBER 402, H.R. 3299, A BILL TO AMEND THE REVISED…

                            UNION CALENDAR NUMBER 402, H.R. 3299, A BILL TO AMEND THE REVISED STATUTES, THE HOMEOWNERS' LOAN ACT, THE FEDERAL CREDIT UNION ACT, AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE RATE OF INTEREST ON CERTAIN LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOAN, AND FOR OTHER PURPOSES.

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                          • 02:08:54 PM

                            TEMPORE PURSUANT

                            PURSUANT TO HOUSE RESOLUTION 736, THE BILL IS CONSIDERED AS READ. THE…

                            PURSUANT TO HOUSE RESOLUTION 736, THE BILL IS CONSIDERED AS READ. 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, MR. HENSARLING.

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                          • 02:09:06 PM

                            MR. HENSARLING

                            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 UNDER CONSIDERATION.

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                          • 02:09:17 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 02:09:18 PM

                            MR. HENSARLING

                            MR. SPEAKER, I YIELD MYSELF SUCH TIME AS I MAY CONSUME.

                          • 02:09:20 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 02:09:22 PM

                            MR. HENSARLING

                            THANK YOU, MR. SPEAKER. I RISE TODAY IN STRONG SUPPORT OF H.R. 3299, THE…

                            THANK YOU, MR. SPEAKER. I RISE TODAY IN STRONG SUPPORT OF H.R. 3299, THE PROTECTING CONSUMER ACCESS TO CREDIT ACT OF 2017, A MOST IMPORTANT GOAL OF THIS CHAMBER. H.R. 3299 IS AN IMPORTANT BILL THAT IS CO-SPONSORED BY A BIPARTISAN GROUP OF MEMBERS OF THE HOUSE. MR. SPEAKER, IT WAS APPROVED BY THE HOUSE FINANCIAL SERVICES COMMITTEE WITH A VERY STRONG BIPARTISAN SUPPORT OF 4217. I'D LIKE TO START OUT THANKING MY COLLEAGUE, THE GENTLEMAN FROM NORTH CAROLINA, MR. MCHENRY, THE VICE CHAIRMAN OF THE COMMITTEE, FOR LEADING OUR CONGRESSIONAL EFFORTS. TO HELP CREATE A REGULATE FRAMEWORK WHICH WILL ENCOURAGE THE GROWTH OF FINANCIAL TECHNOLOGY AND EXPAND MUCH-NEEDED ACCESS TO CREDIT FOR AMERICA'S SMALL BUSINESSES AND CONSUMERS. H.R. 3299 IS A LEGISLATIVE RESPONSE TO THE 2015 SECOND CIRCUIT COURT OF APPEALS OF MADDON V. MIDLAND FUNDING, WHICH DID NOT CONSIDER THE VALID WHEN MADE LEGAL DOCTRINE WHICH IS A NEARLY 200-YEAR-OLD PRINCIPLE OF USERY LAW IN OUR REPUBLIC, MR. SPEAKER. AGAIN, 200 YEARS OF COMMON LAW UPENDED IN ONE COURT CASE. IN THAT DECISION, THE COURT HELD WHILE THE NATIONAL BANK ACT ALLOWED A FEDERALLY CHARTERED BANK TO CHARGE INTEREST UNDER THE LAWS OF ITS HOME STATE AS LONG AS IT MAKES NATIONWIDE NONK BANKS THAT BOUGHT THOSE LOANS COULD NOT CONTINUE TO COLLECT THAT INTEREST BECAUSE NONBANKS ARE GENERALLY SUBJECT TO THE LIMITS OF THE BORROWER'S STATE. THE SECOND CIRCUIT DECISION HAS CAUSED CONSIDERABLE UNCERTAINTY AND RISK FOR MANY TYPES OF BANK LENDING PROGRAMS, INCLUDING BANK MODEL MARKETPLACE LENDING WHERE NATIONAL BANKS ORIGINATE LOANS AND THEN TRANSFER THEM TO NONBANK THIRD PARTIES. BEING ABLE TO OFFER CONSISTENT TERMS NATIONWIDE IS VITAL TO SCALING THE MARKETPLACE LENDING BUSINESS, WHICH IN TURN ALLOWS LENDERS TO ACCESS CHEAPER INVESTMENT CAPITAL AND THEN PASS THE SAVINGS ON TO THE BORROWERS WHO MAY BE LOOKING TO BUY THEIR FIRST HOME, START A BUSINESS, SEND A KID TO COLLEGE. H.R. 3299, AGAIN, IS A COMMONSENSE BILL THAT SIMPLY CODIFIES THE 200-YEAR-OLD VALID WHEN MADE LEGAL DOCTRINE WHICH WOULD PRESERVE THE LAWFUL INTEREST RATE ON A LOAN ORIGINATED BY BANK EVEN IF THE LOAN IS SOLD, ASSIGNED, OR TRANSFERRED TO A NONBANK THIRD PARTY. THIS CONCEPT IS THE BACKBONE HOW BUSINESS PARTNERS WITH BANKS. THOSE CONSUMERS WITH LESS ACCESS TO TRADITIONAL LENDING SOURCES, THIS BILL WOULD HELP. MR. SPEAKER, DON'T TAKE MY WORD FOR IT. ACCORDING TO A RECENT COLUMBIA-STANFORD UNIVERSITY STUDY, BORROWERS WITH CREDIT SCORES UNDER 625 HAVE SEEN THEIR CREDIT CUT IN HALF. CUT IN HALF THANKS TO THIS DECISION. AGAIN, MR. SPEAKER, BORROWERS WITH LESS THAN STALAR CREDIT SCORES HAVE SEEN THEIR CREDIT CUT IN HALF. WE SIMPLY CANNOT ALLOW THIS TO HAPPEN. NOW, MR. SPEAKER, THANKS TO PRESIDENT TRUMP AND CONGRESS, PASSING THE TAX CUTS AND JOBS ACT WE ARE BEGINNING TO SEE THIS ECONOMY START TO TAKE OFF. WE ARE FINALLY SEEING WAGES BEGIN TO GROW AFTER EIGHT YEARS OF FAILED ECONOMIC POLICY BUT SO MUCH WORK REMAINS TO BE DONE FOR WORKING AMERICAN FAMILIES. WE HAVE HEARD ON OUR FINANCIAL SERVICES COMMITTEE, MR. SPEAKER, FROM SO MANY OF THESE FAMILIES WHO ARE TRYING TO MAKE ENDS MEET AND IT'S VITAL THEY BE ABLE TO ACCESS CREDIT. AMERICANS LIKE ALLEN FROM NEW HAMPSHIRE WHO RECENTLY HAD TROUBLE FINDING CREDIT THROUGH TRADITIONAL BANKS AND CREDIT UNIONS DUE TO THE REGULATE LOW. HE SAID, BUT FOR MY LOCAL DEALER'S EFFORTS ON MY BEHALF THERE IS NO DOUBT I WOULDN'T BE DRIVING MY CURRENT CAR. AND THIS WAS A DESPERATE SITUATION AS I AM THE SOLE INCOME EARNER FOR MY FAMILY. MY WIFE IS ILL AND WE HAVE TWO YOUNG CHILDREN IN SCHOOL. AFTER MY OLD VEHICLE BROKE DOWN, I NEEDED TO FIND RELIABLE REPLACEMENT TRANSPORTATION SO I COULD GET TO WORK AND CONTINUE TO PROVIDE FOR MY FAMILY. MR. SPEAKER, WE SHOULD NOT LET THE SECOND CIRCUIT PREVENT ALLEN FROM GETTING THAT CAR LOAN HE DESPERATELY NEEDS IN ORDER TO GET TO WORK AS THE SOLE PROVIDER FOR HIS FAMILY. A SMALL BUSINESS OWNER FROM UTAH NAMED MAXINE APPLIED FOR A LOAN FOR HER 37-YEAR-OLD ESTABLISHED BUSINESS SO SHE CAN UPDATE AND PURCHASE EQUIPMENT. TO SUPPORT A CONTRACT THAT WOULD HAVE LED TO THE CREATION OF 50 ADDITIONAL JOBS. AS SHE EXPLAINED, QUOTE, THREE BANKS INFORMED US OUR RATING, ACCORDING TO NEW BANK REGULATIONS IMPOSED BY DODD-FRANK, DISQUALIFIED US FROM LOAN CONSIDERATION. 50 JOBS, POOF, GONE, MR. SPEAKER. AND SO IS DODD-FRANK NOT BAD ENOUGH? NOW WE ADD THIS SECOND CIRCUIT OPINION TO ALLOW LOWER CREDIT INDIVIDUALS THAT CUT CREDIT OPPORTUNITY IN HALF? I DON'T THINK SO. I DON'T THINK SO. IT'S NOT UP FOR THE UNELECTED TO MAKE SUCH DECISIONS. WE CANNOT CONTINUE TO ALLOW, MR. SPEAKER, WASHINGTON RED TAPE AND THE SECOND CIRCUIT TO CUT OFF CREDIT OPPORTUNITIES FOR HARDWORKING AMERICANS. AS THE BILL SAYS, WE MUST PRESERVE AND PROTECT CONSUMERS' ACCESS TO CREDIT, SO I URGE EVERY MEMBER TO SUPPORT THIS VERY IMPORTANT BIPARTISAN BILL, AND I RESERVE THE BALANCE OF MY TIME. .

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                          • 02:15:30 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

                          • 02:15:34 PM

                            MS. WATERS

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

                            THANK YOU VERY MUCH. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MR. SPEAKER, I RISE TODAY IN OPPOSITION TO H.R. 3299, THE SO-CALLED PROTECTING CONSUMERS ACCESS TO CREDIT ACT OF 2017. THERE'S A GOOD REASON OVER 200 CIVIL RIGHTS CONSUMER FAITH-BASED HOUSING, LABOR, AND VETERANS ADVOCACY ORGANIZATIONS OPPOSE THIS BILL. THE TYPE OF CREDIT THAT THIS BILL HELPS CONSUMERS ACCESS IS THE KIND THAT MAKES IT EASIER FOR VULNERABLE CONSUMERS TO SINK INTO INSURMOUNTABLE DEBT, LIKE PAYDAY AND OTHER HIGH-COST LOANS. H.R. 3299 EXPANDS THE ABILITY OF NONBANKS TO PREEMPT STATE LEVEL CONSUMER PROTECTIONS BY STATING THAT THE INTEREST RATE ON ANY LOAN ORIGINATED BY A NATIONAL BANK THAT IS SUBSEQUENTLY TRANSFERRED TO A THIRD PARTY, NO MATTER HOW QUICKLY AFTER IT IS ORIGINATED, IS ENFORCEABLE. WHICH INCENTIVIZES RICKIER AND PREDATORY LENDING. H.R. 3299 ADVANCES A DANGEROUS PRECEDENT BY ALLOWING THIRD PARTIES THAT PURCHASE LOANS FROM NATIONAL BANKS TO COLLECT ON INTEREST RATES THAT WOULD OTHERWISE BE ILLEGAL BECAUSE THEY EXCEED STATE CAPS. NOW THIS BILL IS AN ATTEMPT TO OVERTURN A COURT DECISION RELATED TO THE LEGAL CONCEPT OF, QUOTE, VALID WHEN MADE, QUOTE-UNQUOTE, FROM THE SECOND CIRCUIT COURT OF APPEALS IN MADDON-VS. MITTLAND. FUNDING L.L.C. IN THAT CASE THE COURT HELD THAT WHEN LOANS ARE TRANSFERRED FROM BANKS TO NONBANK THIRD PARTIES, THEY MUST MAINTAIN THE SAME TERMS, RATES, AND CONDITIONS AS REQUIRED BY THE STATE WHERE THE ORIGINATING BANK IS CHARTERED. DESPITE CLAIMS BY PROPONENTS OF THE BILL, LEGAL EXPERTS HAVE EXPLAINED IN TESTIMONY THAT, QUOTE, THE VALID WHEN MADE DOCTRINE IS A MODERN INVENTION NOT A CORNERSTONE OF U.S. BANKING LAW, END QUOTE. THE MADDON DECISION IS THE ONLY -- IS ONLY THE RULE OF LAW IN THE STATES UNDER THE SECOND CIRCUIT WHICH ARE CONNECTICUT, NEW YORK, AND VERMONT. BUT SOME INDUSTRY ADVOCATES, PARTICULARLY MARKETPLACE LENDER FINTECHES HAVE ARGUED THE RULING AND CONFUSE ABOUT VALID WHEN MADE CAUSED SUCH GREAT MARKET AMBIGUITY THAT IT HAS RESULTED IN REDUCED LENDING TO NEEDY BORROWERS IN THOSE STATES. BUT THOSE CLAIMS HAVE NOT BEEN SUBSTANIATED. THE ONLY PURPORTED EVIDENCE WE HAVE ON THE EFFECT OF THE MADDON RULE IS A SINGLE UNPUBLISHED STUDY THAT CANNOT EVEN BE PEER REVIEWED BECAUSE IT RELIES ON PRIVATE DATA FROM A SINGLE UNIDENTIFIED MARKETPLACE LENDER. AND THE AUTHORS OF THAT STUDY HAVE NOT ENDORSED THIS BILL. IN ADDITION 20 STATE ATTORNEYS GENERAL, INCLUDING THE ATTORNEYS GENERAL FOR ALL THREE STATES UNDER THE SECOND CIRCUIT, OPPOSE THIS LEGISLATIVE CHANGE. YOU KNOW WHAT? PREDATORY LENDERS ARE WORRIED ABOUT MADDEN CASE FOR A DIFFERENT REASON. ELEVATE AND ONLINE PAYDAY LENDER IS SCARED THAT THEY WON'T BE ABLE TO CONTINUE MAKING PREDATORY LOANS IF THE MADDEN DECISION STAYS IN PLACE. IN THEIR PUBLIC FILINGS WITH THE S.E.C., ELEVATE SAID THAT, QUOTE, TO THE EXTENT THAT THE HOLDINGS IN MADDEN WERE BROADEN TO COVER CIRCUMSTANCES APPLICABLE TO ELEVATE BUSINESS OR IF OTHER LIT ON RELATED THEORIES WERE BROUGHT AGAINST US AND WERE SUCCESSFUL, WE COULD BECOME SUBJECT TO STATE WERE USURY LIMITS AND STATE LICENSING LAWS IN ADDITION TO THE STATE CONSUMER PROTECTION LAWS TO WHICH WE'RE ALREADY SUBJECT TO. IN A GREATER NUMBER OF STATES, LOANS IN SUCH STATES COULD BE DEEMED VOID AND UNENFORCEABLE AND WE WOULD BE SUBJECT TO SUBSTANTIAL PENALTIES IN CONNECTION WITH SUCH LOANS, QUOTE-UNQUOTE. MR. SPEAKER, I DO NOT DOUBT THE SINCERITY OF THE GOOD ACTORS THAT MAY BE TRYING TO NAVIGATE A DIFFICULTY TO MAKE NEW RULING POTENTIALLY CAUSED. THIS ISN'T ABOUT THOSE BUSINESSES BECAUSE H.R. 3299 WOULD GO MUCH FURTHER TO ALLOW OTHER THIRD PARTIES, INCLUDING PAYDAY BUSINESSES BECAUSE LENDERS, TO EVADE OR OUTRIGHT DISREGARD STATE LEVEL LAWS AND COLLECT DEBT FROM BORROWERS AT UNREASONABLY HIGH RATES OF INTEREST IF THEY PURCHASE LOANS FROM A NATIONAL BANK. THESE ARRANGEMENTS WERE CALLED RENT A BANK. OR RENT A CHARTER AGREEMENT. AND THEY ALLOW PAYDAY LENDERS TO USE BANKS AS A FRONT FOR PREDATORY BEHAVIOR AND THE EVASION OF STATE INTEREST RATE CAPS. PAYDAY LOANS DRAIN WEALTH FROM LOW-INCOME CONSUMERS, PARTICULARLY THOSE IN COMMUNITIES OF COLOR, AND PAYDAY LOANS TRAP THEIR BORROWERS INTO A CYCLE DEBT THAT IT TAKES YEARS TO CLIMB OUT OF WITH HIGH INTEREST RATES THAT ARE OFTEN IN EXCESS OF 300%. SO LET'S BE CLEAR. INSTEAD OF SIMPLY OVERTURNING THE MADDEN DECISION, H.R. 3299 WOULD GO FAR BEYOND THAT AND CODIFY AND EXPAND IT, PREEMPTION POWER, WITHOUT ANY PROOF IT WILL BENEFIT CONSUMERS. IN FACT, ALL WE DO KNOW IS THAT THE BILL WILL MAKE IT EASIER FOR BAD ACTORS TO EVADE SAFEGUARDS THAT STATES HAVE PUT IN PLACE TO PROTECT BORE RORSE. WE CANNOT ADVANCE A BILL THAT WILL ALLOW NONBANKS LIKE PAYDAY LENDERS TO IGNORE STATE INTEREST RATE CAPS AND MAKE HIGH RATE LOANS. WHILE CONGRESS HAS PREEMPTED SOME STATE LAWS, THE NATIONAL BANKS, IT DID NOT AUTHORIZE NATIONAL BANKS TO EXTEND THE PRIVILEGE TO WHATEVER ENTITIES THEY SO CHOOSE. I URGE MY COLLEAGUES TO OPPOSE THIS BILL AND I RESERVE THE BALANCE OF MY TIME.

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                          • 02:22:05 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 02:22:08 PM

                            MR. HENSARLING

                            I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM NORTH CAROLINA,…

                            I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM NORTH CAROLINA, MR. MCHENRY, VICE CHAIRMAN OF THE COMMITTEE AND SPONSOR OF THE LEGISLATION.

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                          • 02:22:14 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM NORTH CAROLINA IS RECOGNIZED.

                          • 02:22:17 PM

                            MR. MCHENRY

                            I WANT TO THANK THE CHAIRMAN FOR HIS KINDNESS IN WORKING WITH ME AND MY…

                            I WANT TO THANK THE CHAIRMAN FOR HIS KINDNESS IN WORKING WITH ME AND MY TEAM ON BRINGING THIS BILL TO THE FLOOR TODAY. I WANT TO THANK HIS STAFF AS WELL. WHAT WE HAVE TODAY IS THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT. A BIPARTISAN PIECE OF LEGISLATION THAT WE HAVE BOTH REPUBLICANS AND DEMOCRATS IN THE SENATE IN SUPPORT OF, AS WELL AS DEMOCRATS AND REPUBLICANS HERE IN THE HOUSE OF REPRESENTATIVES. THE ISSUE WE'RE DEALING WITH IS ONE OF THE BIGGEST CHALLENGES FACING OUR COUNTRY. WHICH IS THE DECLINE OF LENDING TO CONSUMERS AND SMALL BUSINESSES AND SMALL TOWNS AND RURAL COMMUNITIES LIKE THE ONES I REPRESENT IN WESTERN NORTH CAROLINA. IT'S THE SAME ISSUE FACING SO MANY IN URBAN SETTINGS AS WELL. THIS TUTCHTS ALL OF AMERICA. -- TOUCHES ALL OF AMERICA. BUT THE STORY IN RURAL AMERICA IS BLEAK. COMMUNITY BANKS ARE CLOSING AT A RAPID PACE AND SMALL BUSINESSES ARE STRUGGLING TO FIND LOANS. MANY AMERICANS DON'T HAVE THE SAVINGS TO COVER A COMMON $1,000 EMERGENCY LIKE A CAR REPAIR. THAT'S INTO THE JUST -- THAT'S NOT JUST A RURAL ISSUE. THAT TOUCHES ALL AMERICAN COMMUNITIES. THE GOOD NEWS IS AFTER THE FINANCIAL CRISIS, INNOVATIVE COMPANIES AND BANKS PARTNERED TOGETHER TO FIND NEW WAYS TO HELP HARDWORKING AMERICANS AND SMALL BUSINESS OWNERS. THEY CALL IT FINTECH. THESE INNOVATIVE COMPANIES PARTNER WITH BANKS TO HELP SMALL BUSINESSES GET A LOAN. THEY HELP YOUNG PEOPLE GET OUT OF STUDENT DEBT. THEY HELP EVERYDAY AMERICANS FIND THE FINANCING THEY NEED TO LEAD BETTER LIVES. NOW, THIS SHOULD BE SOMETHING HERALDED BY BOTH PARTIES. SHOULDN'T BE IN A PARTISAN ISSUE. SHOULDN'T BE A LEFT OR RIGHT, CONSERVATIVE OR LIBERAL. IT'S A GOOD THING THAT'S HAPPENING WITH INNOVATION AND DIFFERENT MODES OF LENDING AND BORROWING IN THIS COUNTRY. WHILE THIS ERA OF FINANCIAL INNOVATION IS BRAND NEW, THE ACTUAL STRUCTURE SUPPORTING FINTECH IS BASED ON ONE OF THE OLDEST BEDROCK PRINCIPLES IN AMERICAN LAW. THE FUNDAMENTAL CONCEPT IS CALLED VALID WHEN MADE. VALID WHEN MADE OR WHAT THE SUPREME COURT REFERRED TO IN 1833 AS QUOTE, THE CARDINAL RULE, END QUOTE, OF AMERICAN INTEREST RATE LAWS PROVIDES A LEGAL FOUNDATION FOR ALL FINTECH COMPANIES PARTNER WITH BANKS. I DON'T HAVE TO SHARE WITH THE RANKING MEMBER OR OTHER MEMBERS OF OUR CHAMBER THAT BANKS ARE HEAVILY REGULATED. IF THEY EVEN PARTNER WITH ANOTHER FIRM, THIS, TOO, IS A REGULATED THING. YET ALL THAT CHANGED WHEN THE SUPREME COURT DECLINED TO HEAR THE CASE OF MADDEN VS. MIDLAND FUNDING. IN MADDEN, ACTIVIST JUDGES ON A FEDERAL APPEALS COURT BROKE WITH THE LONG-STANDING LEGAL PRECEDENT OF VALID WHEN MADE AND HELD THAT THE 1864 NATIONAL BANK ACT DID NOT HAVE A PREEMPTIVE EFFECT ON LOANS CREATED UNDER THIS FINTECH BANK PARTNERSHIP. THE LEGAL FRAMEWORK HAS BEEN AROUND ALMOST FOR 200 YEARS AND THE PARTICULAR LAW THAT WE'RE DEALING WITH HAS BEEN AROUND FOR 150 YEARS. ROUGHLY SPEAKING. THE DECISION, THOUGH, THIS DECISION HAS CREATED UNCERTAINTY FOR FINTECH COMPANIES, FINANCIAL INSTITUTIONS AND CREDIT MARKETS GENERALLY. ACCORDING TO A STUDY FROM COLUMBIA AND STANFORD UNIVERSITIES, MADDEN SIGNIFICANTLY REDUCED CREDIT ABILITY IN THAT AFFECTED REGION. AND THIS MATTERS FOR ALL AMERICANS BECAUSE OF THE EFFECT IT'S HAVING. WHAT WE SAW IS LOAN VOLUMES DECLINE. THE AVERAGE FICA SCORE FOR BORROWERS TO GET A LOAN INCREASED. THAT MEANS IF YOU ARE ON THE MARGINS OF SOCIETY, IT GOT HARDER AND MORE EXPENSIVE FOR YOU TO GET LENDING. IT'S A BAD CASE. SIMPLY PUT, THIS SHOULD NOT BE HAPPENING. IF WE'RE SERIOUS ABOUT FINANCIAL INCLUSION FOR ALL AMERICANS, WE NEED THIS BILL TODAY. A BIPARTISAN BILL. WE NEED IT. IF WE'RE SERIOUS ABOUT MODERNIZING OUR FINANCIAL SYSTEM, WE NEED THIS BILL PASSED INTO LAW. IF WE'RE SERIOUS ABOUT HELPING EVERYDAY AMERICANS NOT JUST THE FORTUNATE FEW, WITH UNBLEMISHED CREDIT, WE NEED TO PASS THIS BILL. I'M PLEASED THIS LEGISLATION ENJOYS SUPPORT FROM MY COLLEAGUES ON BOTH SIDES OF THE AISLE. I WANT TO THANK REPRESENTATIVE MEEKS, DEMOCRAT OF NEW YORK, SENATOR MARK WARNER, DEMOCRAT OF VIRGINIA, AND SENATOR PAT TOOMEY, REPUBLICAN OF PENNSYLVANIA, WHO WORKED HARD ON THIS BIPARTISAN, BICAMERAL LEGISLATION. IT'S IMPORTANT, IT'S NEEDED. WE'LL HAVE A POSITIVE IMPACT ON PEOPLE'S LIVES. ALL ARGUMENTS THAT HAVE BEEN MADE ABOUT THIS BILL, AGAINST THIS BILL ON THE FLOOR DON'T ACTUALLY FOCUS ON WHAT IS IMPORTANT AND NECESSARY ABOUT THIS LEGISLATION. HAVE A POSITIVE THEY ARE STRAWMEN THAT DON'T HAVE ANYTHING TO DO WITH THE CONTENTS OF THIS VERY SIMPLE BIPARTISAN PIECE OF LEGISLATION. I ASK MY COLLEAGUES TO VOTE FOR THIS. AND I YIELD BACK THE BALANCE OF MY TIME.

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                          • 02:27:31 PM

                            THE SPEAKER PRO TEMPORE

                            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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                          • 02:27:35 PM

                            MS. WATERS

                            THANK YOU VERY MUCH. I YIELD TWO MINUTES TO THE GENTLEMAN FROM CALIFORNIA,…

                            THANK YOU VERY MUCH. I YIELD TWO MINUTES TO THE GENTLEMAN FROM CALIFORNIA, VICE CHAIR OF THE CONGRESSIONAL PROGRESSIVE CAUCUS, MR. KHANNA.

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                          • 02:27:43 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

                          • 02:27:45 PM

                            MR. KHANNA

                            THANK YOU, MR. SPEAKER. I RISE IN OPPOSITION TO THIS BILL OF PROTECTING…

                            THANK YOU, MR. SPEAKER. I RISE IN OPPOSITION TO THIS BILL OF PROTECTING CONSUMERS' ACCESS TO CREDIT ACT. I REPRESENT SILICON VALLEY, AND I AM NOT OPPOSED TO FINTECH. LET'S BE VERY CLEAR. I MEAN IF THERE IS TECHNOLOGY THAT'S GOING TO MAKE IT EASIER FOR PEOPLE TO GET ACCESS TO CAPITAL, WHO IS OPPOSED TO THAT? BUT THIS HAS NOTHING TO DO WITH FINTECH. THIS HAS TO DO WITH BASIC STATE LAWS. THE QUESTION IS NOT ARE WE GOING TO GO TO THE FUTURE, THE QUESTION IS ARE WE GOING TO GO BACK TO THE MERCHANT OF VENICE WHEN USURY LAWS WERE ALLOWED? THAT REALLY IS WHAT THE ISSUE IS. THE QUESTION -- WHAT THIS BILL DOES, JUST TO BE VERY CLEAR, IS IT SAYS IF YOU WANT TO USE FINTECH, IF YOU WANT TO USE TECHNOLOGY, NOW THE -- THERE IS NO LAW AGAINST BEING CHARGED 380%.

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                          • 02:28:43 PM

                            MR. MCHENRY

                            WOULD THE GENTLEMAN YIELD? YOU ARE ASSERTING THERE IS NO LAW OR FEDERAL…

                            WOULD THE GENTLEMAN YIELD? YOU ARE ASSERTING THERE IS NO LAW OR FEDERAL REGULATION AGAINST FEDERALLY CHARTERED BANKS LOANING -- GIVING LOANS TO PEOPLE?

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                          • 02:29:01 PM

                            MR. KHANNA

                            LET ME TAKE BACK MY TIME. MY ASSERTION, I UNDERSTAND THE SECOND CIRCUIT…

                            LET ME TAKE BACK MY TIME. MY ASSERTION, I UNDERSTAND THE SECOND CIRCUIT DECISION, THE SECOND CIRCUIT DECISION BASICALLY SAID THAT IF YOU ARE A BANK AND IF YOU ARE A FINTECH COMPANY AND YOU ARE IN RURAL PART OF THE COUNTRY, I TOTALLY AGREE WITH YOU, WE NEED MORE CAPITAL IN RURAL AMERICA. WE NEED MORE TECH THERE. WHAT THE SECOND CIRCUIT SAID IS YOU CAN'T PARTNER WITH A NATIONAL BANK AND PREEMPT STATE LAWS. SO IF NORTH CAROLINA HAS A LAW SAYING YOU CAN'T CHARGE 400% INTEREST, IF THERE IS A BANK IN NEW YORK OR BANK IN CALIFORNIA THAT WANTS TO CHARGE 400% INTEREST, JUST BECAUSE THEY HAVE SOME MAGICAL FINTECH, THEY CAN'T CHARGE PEOPLE 400% INTEREST IN NORTH CAROLINA OR ARKANSAS. I'M ALL FOR GIVING MORE CAPITAL AT AFFORDABLE RATES AND USING TECHNOLOGY TO HELP RURAL AMERICA. WE HAVE DONE A TERRIBLE JOB OF THAT. I CONCEDE THAT POINT. BUT THIS IS NOT THE WAY TO DO THAT. THIS IS GOING TO HURT THE --

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                          • 02:30:03 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 02:30:06 PM

                            MR. KHANNA

                            THIS IS GOING TO HURT ORDINARY FOLKS WHO CAN'T MAKE PAYCHECK TO PAYCHECK…

                            THIS IS GOING TO HURT ORDINARY FOLKS WHO CAN'T MAKE PAYCHECK TO PAYCHECK AND THEY HAVE TO PAY THESE EXORBITANT INTEREST RATES. IF THE MAJORITY COMES UP WITH A BILL THAT SAYS WE WANT TO EXPAND THE S.B.A., WE WANT TO EXPAND FIGURING OUT HOW TO GET VENTURE CAPITAL INTO RURAL AMERICA, WE WANT TO EXPAND THE EARNED INCOME TAX CREDIT SO PEOPLE HAVE MORE MONEY IN THEIR POCKET SO THEY CAN MAKE A LIVING AND MEET THEIR DAILY EXPENSES, I AGREE. IF THEY SAY, LOOK, ALL THE CAPITAL, 85% OF THE CAPITAL IS IN MY DISTRICT IN MASSACHUSETTS AND NEW YORK, THEN WE HAVE TO GET THE CAPITAL INTO OTHER STATES, I AGREE. . BUT TO SAY TO USE THE WORD FINTECH AND SAY IT'S SOMETHING THAT WILL ALLOW THE DIFUSION OF CAPITAL THAT MEANS YOU SHOULD GET RID OF THE STATE LAWS CAPPING USERY, THAT IS GOING BACK TO THE VICTORIAN ERA. WE HAD THAT DEBATE. I WAS READING SHY LOCK -- AND THEY WERE CHARGING PEOPLE FOUR TIMES AS MUCH.

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                          • 02:31:15 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN FROM CALIFORNIA RESERVES. THE GENTLEMAN FROM TEXAS IS…

                            THE GENTLEWOMAN FROM CALIFORNIA RESERVES. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                          • 02:31:19 PM

                            MR. HENSARLING

                            MR. SPEAKER, I YIELD MYSELF 10 SECONDS TO SAY TO THE GENTLEMAN SAYING THIS…

                            MR. SPEAKER, I YIELD MYSELF 10 SECONDS TO SAY TO THE GENTLEMAN SAYING THIS IS A MAJORITY BILL, THIS IS SUPPORTED BY CONGRESSMAN MEEKS, CONGRESSMAN SCOTT, DEMOCRAT OF GEORGIA, CONGRESSMAN CLEAVER, DEMOCRAT OF MISSOURI, CONGRESSWOMAN MOORE, DEMOCRAT OF WISCONSIN, CONGRESSMAN PERLMUTTER, DEMOCRAT OF COLORADO, CONGRESSWOMAN SINEMA, DEMOCRAT OF ARIZONA, AND THE LIST GOES ON. MR. SPEAKER, I AM YOU A NOW PLEASED TO YIELD FOUR MINUTES TO MR. ROTHFUS, VICE CHAIRMAN OF THE COMMITTEE ON FINANCIAL INSTITUTIONS.

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                          • 02:31:59 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM PENNSYLVANIA IS RECOGNIZED.

                          • 02:32:03 PM

                            MR. ROTHFUS

                            I THANK THE CHAIRMAN FOR YIELDING. LISTENING TO THIS DEBATE, IT SEEMS LIKE…

                            I THANK THE CHAIRMAN FOR YIELDING. LISTENING TO THIS DEBATE, IT SEEMS LIKE SOME PEOPLE WANT TO KNOW ON -- VOTE NO ON THIS BILL WHEN THERE ARE PLENTY OF REASONS TO VOTE YES. I RISE IN SUPPORT OF H.R. 3299, THE PROTECTING CONSUMER ACCESS TO CREDIT ACT. I ALSO WANT TO COMMEND HIM FOR HIS HARD WORK ON THIS IMPORTANT ISSUE. UNDER THE VALID WHEN MADE DOCTRINE, THE INTEREST RATE ON A LOAN THAT COMPLIES WITH FEDERAL LAW WHEN IT IS MADE WILL REMAIN VALID REGARDLESS WHETHER THAT LOAN IS TRANSFERRED TO A THIRD PARTY. THIS IS AN IMPORTANT PRINCIPLE, AND IT IS ESSENTIAL TO MAINTAINING A VIBRANT SECONDARY MARKET AND FOSTERING CONTINUED GROWTH IN THE ONLINE LENDING INDUSTRY. THE SECOND CIRCUIT'S DECISION IN MADDEN V. MIDLAND, WHICH CHALLENGED THE VALID WHEN MADE DOCTRINE THREATENED BOTH THE SECONDARY MARKET AND FINTECH LENDING PARTNERSHIPS. THIS ULTIMATELY HURTS CONSUMERS. AT THE FINANCIAL SERVICES COMMITTEE WE HAVE EXTENSIVELY DISCUSSED THE DIFFICULTY THAT MANY AMERICANS FACE IN GETTING CREDIT. MADDEN V. MIDLAND WILL ONLY INTENSIFY THAT CHALLENGE FOR FAMILIES AND MAIN STREET BUSINESSES AS IT JEOPARDIZES THE ABILITY OF BANKS TO SELL LOANS INTO THE SECONDARY MARKET. IF BANKS FIND IT DIFFICULT TO SELL DEBT TO NONBANKS, A COMMON AND HEALTHY PRACTICE, THEY WILL BE FORCED TO BECOME MORE RESTRICTIVE IN OFFERING CREDIT AND THEY MAY DO SO AT A HIGHER COST. BECAUSE OF THIS, FEWER CONSUMERS WILL BE ABLE TO ACCESS THE FUNDS THEY NEED TO BUILD, INVEST AND INNOVATE. THROUGHOUT THE COURSE OF THE SLOW AND UNEVENED POSTECONOMIC RE-- POSTCRISIS ECONOMIC RECOVERY, WE SETTLED INTO A TWO-SPEED ECONOMY, THE BIGGEST AND RICHEST AND BEST CONNECTED FIRMS HAVE DONE JUST FINE. THEY HAVE A RELATIVELY EASY TIME ACCESSING FUNDS. SMALL BUSINESSES, HOWEVER, HAVE BEEN STRUGGLING TO KEEP UP. IN FACT, MANY HAVEN'T EVEN GOTTEN OFF THE GROUND. RESEARCHERS FOUND THAT OUR ECONOMY IS CURRENTLY MISSING 650,000 SMALL BUSINESSES. THAT IS 650,000 FEWER BUSINESSES THAT CAN INNOVATE, CREATE JOBS, AND INVEST IN OUR COMMUNITIES. THOSE 650,000 BUSINESSES WOULD HAVE REPRESENTED 6 1/2 MILLION JOBS, 6 1/2 MILLION TAXPAYERS, 6 1/2 MILLION PEOPLE CONTRIBUTING TO HELP SOCIAL SECURITY AND MEDICARE AND HELPING TO PAY FOR OUR VETERANS' CARE. ANYONE WHO TRAVELS THIS COUNTRY TALKING TO SMALL BUSINESS OWNERS KNOWS THAT ACCESS TO CREDIT IS A MAJOR CAUSE. BY CODIFYING VALID WHEN MADE, THIS BILL WILL HELP TO ADDRESS ONE OF THE MOST PRESSING THREATS TO OUR ECONOMIC RECOVERY AND THE RESURGENCE OF AMERICAN SMALL BUSINESS. AS THE O.C.C.'S FORMER ACTING COMPTROLLER NOTED, THIS PROPOSAL SUPPORTED ECONOMIC OPPORTUNITY -- SUPPORTS ECONOMIC OPPORTUNITY. H.R. 3299 WILL HELP KEEP CREDIT FLOWING TO THOSE WHO NEED IT WHILE ENSURING CONSUMERS ARE PROTECTED. THIS IS A COMMONSENSE FIX THAT PROVIDES THE MARKET WITH THE CLARITY NEEDED TO SUPPORT CONTINUED ECONOMIC GROWTH. I URGE MY COLLEAGUES TO SUPPORT THE PROTECTING CONSUMER ACCESS TO CREDIT ACT, AND I YIELD BACK.

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                          • 02:35:31 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

                          • 02:35:33 PM

                            MS. WATERS

                            THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, BOTH OF THE GENTLEMEN, MR.…

                            THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, BOTH OF THE GENTLEMEN, MR. MCHENRY AND MR. ROTHFUS, WHO ARE, YOU KNOW, ADVANCING THIS LEGISLATION, COME FROM STATES THAT DON'T SUPPORT IT. MR. MCHENRY, NORTH CAROLINA, HAS BANNED PAYDAY LENDING. MR. ROTHFUS, PENNSYLVANIA, HAS BANNED PAYDAY LENDING. AND HERE YOU HAVE A BILL THAT WOULD ALLOW PAYDAY LENDERS TO BUY UP DEBT FROM NATIONAL BANKS AND BASICALLY CHARGE CONSUMERS WHATEVER THEY WOULD LIKE TO CHARGE THEM. THEY WOULD GET AROUND THE BANFF YOUR OWN STATES. DO YOU REALLY WANT -- BAN OF YOUR OWN STATES. DO YOU REALLY WANT TO DO THIS? I RESERVE THE BALANCE OF MY TIME.

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                          • 02:36:24 PM

                            TEMPORE MEMBERS

                            MEMBERS ARE REMINDED TO DIRECT THEIR REMARKS TO THE MEDICARE. THE…

                            MEMBERS ARE REMINDED TO DIRECT THEIR REMARKS TO THE MEDICARE. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                          • 02:36:28 PM

                            MR. HENSARLING

                            MR. SPEAKER, I'M NOW PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                            MR. SPEAKER, I'M NOW PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM NORTH CAROLINA, MR. PITTENGER, THE VICE CHAIRMAN OF THE TERRORISM AND ILLICIT FINANCE SUBCOMMITTEE.

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                          • 02:36:37 PM

                            MR. PITTENGER

                            MR. SPEAKER, THANK YOU FOR YOUR LEADERSHIP. THANKS TO CONGRESSMAN MCHENRY.…

                            MR. SPEAKER, THANK YOU FOR YOUR LEADERSHIP. THANKS TO CONGRESSMAN MCHENRY. MR. SPEAKER, I RISE TO SAY REGRETFULLY THIS RULING, MADDEN V. MIDLAND, IS JUST ANOTHER LAYER OF BIG BROTHER, A MISGUIDED RULING BY SOME PEOPLE OF GOOD INTENTIONS AND GOOD WILL, BUT THE NET EFFECT IS FEWER CHOICES FOR THE AMERICAN PEOPLE. I THINK, MR. SPEAKER, WE'VE SEEN WHAT HAPPENED AS A RESULT OF DODD-FRANK. WE SAW WHAT HAPPENED TO THE AMERICAN ECONOMY. WE SAW WHAT HAPPENED TO THE AMERICAN CONSUMERS. REGRETTABLY, MR. SPEAKER, IT'S THE LOW-INCOME MINORITY PEOPLE WHO SUFFERED THE MOST IN THE LAST DECADE AS A RESULT OF THE MISGUIDED REGULATIONS THAT WERE PUT UPON THE AMERICAN PEOPLE. BIG BROTHER DOESN'T HAVE THE ANSWERS. WHAT WE DO HAVE IS THE OPPORTUNITY TO PROVIDE CHOICES TO THE AMERICAN PEOPLE AND THAT'S WHERE H.R. 3299 IS ALL ABOUT. IN NORTH CAROLINA, MR. SPEAKER, WE LOST 50% OF OUR BANKS BECAUSE OF THESE MISGUIDED REGULATE OVERMANAGEMENT BY THE FEDERAL GOVERNMENT. THERE'S LESS ACCESS TO CAPITAL AND CREDIT FOR SMALL BUSINESS. THERE'S LESS ACCESS TO CAPITAL FOR THAT INDIVIDUAL WHO HAS A REAL NEED. MAYBE THEY WANT TO START SOMETHING. MAYBE THEY HAVE AN EMERGENCY IN THEIR FAMILY. THIS IS WHAT THIS BILL IS ALL ABOUT. WE NEED TO BE BEHIND IT. WE NEED TO SUPPORT IT. WE NEED TO UNDERSTAND THAT THE AMERICAN PEOPLE KNOW HOW TO MAKE GOOD CHOICES. WE NEED TO TRUST THE AMERICAN PEOPLE AND NOT TRUST THE BIG BROTHER AND THE BIG GOVERNMENT. THANK YOU AND I YIELD BACK.

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                          • 02:38:07 PM

                            MS. WATERS

                            MR. SPEAKER, I'D LIKE TO REMIND MR. PITTENGER THAT HIS STATE, NORTH…

                            MR. SPEAKER, I'D LIKE TO REMIND MR. PITTENGER THAT HIS STATE, NORTH CAROLINA, AGAIN, ALONG WITH MR. MCHENRY, ATTORNEYS GENERALS HAVE OPPOSED THIS BILL. THEY DO NOT LIKE THIS BILL, AND I JUST WANT TO REMIND THEM THAT THEY DON'T HAVE THE SUPPORT OF THEIR STATES IN DOING SO. WITH THAT I WOULD YIELD TWO MINUTES TO THE GENTLELADY FROM NEW YORK, THE RANKING MEMBER OF THE CAPITAL MARKETS SUBCOMMITTEE ON THE FINANCIAL SERVICES COMMITTEE, MRS. MALONEY.

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                          • 02:38:41 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY FROM NEW YORK IS RECOGNIZED.

                          • 02:38:43 PM

                            MRS. MALONEY

                            I THANK THE RANKING MEMBER FOR YIELDING AND FOR HER EXTRAORDINARY EFFORTS…

                            I THANK THE RANKING MEMBER FOR YIELDING AND FOR HER EXTRAORDINARY EFFORTS TO PROTECT CONSUMERS BY OPPOSING THIS BILL. I RISE IN VERY STRONG OPPOSITION TO H.R. 3299. I DON'T THINK WE SHOULD BE DOING ANYTHING TO TAKE AWAY STATES' AUTHORITY TO ENFORCE THEIR OWN USURY LAWS WHICH MAKE IT ILLEGAL FOR LENDERS TO CHARGE OUTRAGEOUSLY HIGH INTEREST RATES ON THEIR RESIDENTS. THIS IS A CORE CONSUMER PROTECTION ISSUE, AND IF WE ALLOW LENDERS THAT AREN'T SUBJECT TO THE STRICT FEDERAL REGULATIONS FOR BANKS TO CIRCUMVENT STATE REGULATIONS TO, THEN WE'RE JUST THROWING CONSUMERS TO THE WOLVES. REMOVING PROTECTIONS. I KNOW THAT SOME PEOPLE HAVE CLAIMED THAT THIS BILL WOULD PROMOTE INOWE VATION BY ALLOWING FINANCIAL TECHNOLOGY COMPANIES TO BETTER SERVE LOWER INCOME CUSTOMERS. BUT LET'S BE CLEAR. THE ONLY LOANS THAT WOULD BE ALLOWED BY THIS BILL, THAT AREN'T ALREADY ALLOWED, ARE LOANS THAT VIOLATE STATE USURY LAWS THAT ARE PUT IN PLACE BY STATES TO PROTECT THEIR CONSUMERS. WHY IN THE WORLD WOULD WE WANT TO DO THAT TO PEOPLE? AND I'M SORRY, BUT THERE'S NOTHING INNOVATIVE ABOUT USURY. AND THERE'S NOTHING INNOVATIVE ABOUT GOUGING LOW-INCOME CONSUMERS WITH OUTRAGEOUS INTEREST RATES. THIS IS A TERRIBLE, TERRIBLE BILL. SO THIS BILL IS NOT ABOUT INNOVATION. IT'S ABOUT TAKING AWAY PROTECTIONS FOR CONSUMERS FROM PREDATORY LOANS. WHY IN THE WORLD WOULD WE WANT TO DO THAT TO PEOPLE? I URGE MY COLLEAGUES, I URGE THEM TO PROTECT CONSUMERS AND TO OPPOSE THIS BILL. AND I YIELD BACK.

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                          • 02:41:04 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 02:41:09 PM

                            MR. HENSARLING

                            MR. SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                            MR. SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM COLORADO, MR. TIPTON, VICE CHAIRMAN OF THE SUBCOMMITTEE ON OVERSIGHT AND INVESTIGATIONS.

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                          • 02:41:17 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM COLORADO IS RECOGNIZED.

                          • 02:41:19 PM

                            MR. TIPTON

                            MR. SPEAKER, THANK YOU FOR THE TIME. INTERESTING BEING ABLE TO LISTEN TO…

                            MR. SPEAKER, THANK YOU FOR THE TIME. INTERESTING BEING ABLE TO LISTEN TO THIS DEBATE. THE COMMON GROUND IS WE WANT TO BE ABLE TO HAVE CONSUMERS HAVE ACCESS TO CAPITAL AND WE ALSO WANT RESPONSIBLE LENDING. WE NOW NEED TO RESET THIS DEBATE TO THE REALITY THAT'S BEING FACED ON THE GROUND. IN AN ALREADY CHALLENGING LOAN ENVIRONMENT FOR MANY BANKS NATIONWIDE, MADDEN V. MIDLAND DECISION HAS FURTHER LIMITED THE ABILITY OF NATIONAL BANKS TO BE ABLE TO ISSUE CREDIT. BECAUSE OF THE COURT'S DECISION NOT TO APPLY THE VALID WHEN MADE DOCTRINE TO ITS DECISION WHICH WOULD HAVE PRESERVED LAWFUL INTEREST RATES, ACCESS TO CREDIT AND RISK MITIGATION TOOLS HAVE BEEN PLACED INTO JEOPARDY. THE LEGAL UNCERTAINTY RESULTING FROM THE MADDEN DECISION HAS LED TO A REDUCTION IN RESPONSIBLE AND AFFORDABLE LENDING AND HAS LIMITED CONSUMERS' ACCESS TO BETTER AND CHEAPER CHOICES. FORTUNATELY, THE VICE CHAIRMAN'S LEGISLATION, THE PROTECTING CONSUMER ACCESS TO CREDIT ACT, WOULD REASSERT THE VALID WHEN MADE PRINCIPLE, TO ENSURE THAT A LOAN THAT IS VALID AT ITS INCEPTION CANNOT BECOME INVALID OR ENFORCEABLE UPON ITS SUBSEQUENT TRANSFER TO ANOTHER PERSON OR THIRD. THIS LEGISLATION PROMOTES HEALTHY FINANCIAL MARKETS AND WOULD HELP IMPROVE THE OFTEN LIMITING LOAN ENVIRONMENT FACING BANKS NATIONWIDE. THIS IS IMPORTANT FOR OUR FAMILIES, SMALL BUSINESSES FOR WHOM ACCESS TO CREDIT IS CRITICAL TO SUCCESS. FURTHER, THIS LEGISLATION ENSURES THAT INNOVATIVE MARKETPLACE LENDING REMAINS INTACT WHILE SIMULTANEOUSLY PROVIDING SAFE CONSUMER PROTECTIONS. I'D LIKE TO THANK MR. MCHENRY IN SUPPORTING AND DEVELOPING THIS BIPARTISAN LEGISLATION, TO BE ABLE TO HELP PRESERVE ACCESS TO CREDIT FOR THOSE WHO NEED IT MOST, AND TO ENCOURAGE MY COLLEAGUES TO SUPPORT THE MEASURE HERE TODAY. THANK YOU, MR. SPEAKER AND MR. CHAIRMAN. I YIELD BACK THE BALANCE OF MY TIME.

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                          • 02:43:11 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

                          • 02:43:14 PM

                            MS. WATERS

                            THANK YOU VERY MUCH, MR. SPEAKER AND MEMBERS. YOU HAVE HEARD THOSE OF US…

                            THANK YOU VERY MUCH, MR. SPEAKER AND MEMBERS. YOU HAVE HEARD THOSE OF US WHO ARE OPPOSED TO THIS LEGISLATION REPEAT OVER AND OVER AGAIN THAT THIS IS ALL ABOUT PREDATORY LENDING, THAT THIS BILL WOULD OPEN THE GATES WIDE TO THE KIND OF ABUSES THAT WE HAVE BEEN FIGHTING SO HARD AGAINST, AND MRS. MALONEY FROM NEW YORK ASKED A QUESTION. WHY DO YOU WANT TO DO THIS TO YOUR CONSTITUENTS? WHY DO YOU WANT TO DO THIS TO THE VERY CONSUMERS THAT WE ARE SUPPOSED TO BE PROTECTING? AND I HAVE RAISED A QUESTION TO THOSE WHO COME FROM STATES WHERE THE ATTORNEYS GENERALS OPPOSE THIS LEGISLATION. THE GENTLEMAN FROM NORTH CAROLINA AND PENNSYLVANIA, WHO ARE HERE IN SUPPORT OF THIS BILL, THEY ARE IGNORING THE FACT THAT THEIR STATE'S ATTORNEYS GENERALS ARE SAYING THAT THIS BILL IS A BAD BILL AND, OF COURSE, IF H.R. 3299 WAS REALLY ABOUT EXPANDING ACCESS TO UNDERSERVED POPULATIONS, AS THE PROPONENTS CLAIM, THEN THEY MAY BE SURPRISED TO LEARN THAT THE NATION'S LEADING CIVIL AND CONSUMER GROUPS ARE ALL OPPOSED TO THIS LEGISLATION BECAUSE IT WILL HARM CONSUMERS, NOT HELP THEM. ACCORDING TO A NEWS ARTICLE FROM LAST NOVEMBER, QUOTE, THERE IS A REASON THE NAACP, THE SOUTHERN POVERTY LAW CENTER, THE NATIONAL CONSUMER LAW CENTER, THE CONSUMER FEDERATION OF AMERICA, AND DOZENS OF CHURCHES, WOMEN'S GROUPS AND ANTI-POVERTY ORGANIZATIONS FROM AROUND THE COUNTRY HAVE DENOUNCED THE BILL. IN SEPTEMBER, THOSE GROUPS WROTE A JOINT LETTER TO CONGRESS WARNING H.R. 4299, QUOTE, WIPES AWAY THE STRONGEST AVAILABLE TOOL AGAINST PREDATORY LENDING PRACTICES, QUOTE-UNQUOTE, AND, QUOTE, WILL OPEN THE FLOODGATES TO A WIDE RANGE OF PREDATORY ACTORS TO MAKE LOANS AT 300% ANNUAL INTEREST OR HIGHER. THE ARTICLE GOES ON TO SAY, QUOTE, BUT IF YOU DON'T -- YOU DON'T HAVE TO TAKE THE NAACP'S WORD FOR IT. JUST TAKE A LOOK AT THE COMPANIES WHO ARE LOBBYING IN FAVOR OF H.R. 3299. WELL, THEY AREN'T MANY, AS IT'S A COMPLICATED AND OBSCURE ISSUE BUT ONE OF THEM, ACCORDING TO A FEDERAL LOBBYING DISCLOSURE FORM, IS A FIRM CALLED CNU ONLINE HOLDINGS, L.L.C. MOST DON'T EVEN REALIZE THEY USE IT. . THEY ARE MORE FAMILIAR WITH THE PARENT COMPANY, PAYDAY LENDING GIANT, INNOVA FINANCIAL, OR ITS FLAGSHIP BRAND, CASHNET U.S.A. BOTTOM LINE. THIS BILL IS NOT HELPING OUR CONSUMERS BUT RATHER TO LINE THE POCKETS OF PREDATORY LENDERS WHO ARE LOOKING FOR ANY WAY AROUND STATE INTEREST RATE CAPS AND CONSUMER PROTECTIONS. I RESERVE THE BALANCE OF MY TIME.

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                          • 02:46:37 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 02:46:39 PM

                            MR. HENSARLING

                            I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MINNESOTA, MR.…

                            I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MINNESOTA, MR. EMMER, HARDWORKING MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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                          • 02:46:45 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM MINNESOTA IS RECOGNIZED.

                          • 02:46:47 PM

                            MR. EMMER

                            I THANK THE CHAIRMAN. MR. SPEAKER, I RISE TODAY TO SUPPORT ANOTHER BILL…

                            I THANK THE CHAIRMAN. MR. SPEAKER, I RISE TODAY TO SUPPORT ANOTHER BILL WHICH BUILDS ON THE GOOD WORK OF THE HOUSE FINANCIAL SERVICES COMMITTEE. THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT TAKES AN IMPORTANT STEP TO PROVIDE CERTAINTY THROUGH OUR FINANCIAL SYSTEM AND TO SUPPORT CONSUMERS. A 2015 COURT DECISION THAT WE HAVE HEARD OTHER SPEAKERS TALK ABOUT TODAY, MADDEN VS. MIDLAND, IS MAKING IT DIFFICULT FOR ONLINE LENDERS TO OFFER BUSINESSES THE FUNDS THEY NEED TO GROW AND SUCCEED. IN MADDEN, THE COURT HELD THAT WHILE THE NATIONAL BANK ACT ALLOWS A FEDERALLY CHARTERED BANK TO CHARGE INTEREST UNDER THE LAWS OF ITS HOME STATE ON LOANS IT MAKES NATIONWIDE, NONBANKS THAT AGUIRRE THESE LOANS MAY NOT BE ABLE TO MAINTAIN THE SAME RATE OF INTEREST SINCE NONE BANKS ARE SUBJECT TO LIMITS OF THE BORROWER STATE. AT THAT TIME WHEN LENDERS ARE EAGER TO HELP CONSUMERS AND BUSINESSES GAIN ACCESS TO CAPITAL, CONGRESS NEEDS TO STEP IN TO CHECK THIS MISGUIDED RULING. WHEN A FEDERALLY CHARTERED BANK ORIGINATES THE INTEREST ON A LOAN, THAT INTEREST RATE SHOULD REMAIN CONSISTENT. REPRESENTATIVE MCHENRY'S LEGISLATION PROVIDES THAT FIX BY CODIFYING THE LEGAL DOCTRINE OF VALID WHEN MADE. FURTHER, IT HELPS COMMUNITY BANKS AND CREDIT UNIONS ACCESS SECONDARY MARKETS THEY NEED TO GENERATE LIQUIDITY WHILE ALSO ENABLING NEW AND EMERGING FINANCIAL TECHNOLOGY INNOVATORS TO IT FIND EASIER WAYS FOR CONSUMERS AND BUSINESSES TO ACCESS CREDIT AND CAPITAL. I APPRECIATE THE HARD WORK OF MY COLLEAGUE, OUR CHIEF DEPUTY WHIP, ON THIS IMPORTANT LEGISLATION. AND I ENCOURAGE ALL OF THE MEMBERS OF THIS BODY TO SUPPORT THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT. WE MUST FIX THE MISGUIDED MADDEN RULING AND TAKE ANOTHER STEP FORWARD IN SUPPORTING CONSUMERS. FINANCIAL INNOVATION AND OUR LENDERS THAT SERVE AS THE BACKBONE OF MAIN STREET AMERICA. THANK YOU. I YIELD BACK THE BALANCE OF MY TIME.

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                          • 02:48:41 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN CALIFORNIA IS RECOGNIZED.

                          • 02:48:44 PM

                            MS. WTERS

                            MR. SPEAKER AND MEMBERS, THIS IS ODD. HERE WE HAVE ANOTHER MEMBER OF…

                            MR. SPEAKER AND MEMBERS, THIS IS ODD. HERE WE HAVE ANOTHER MEMBER OF CONGRESS WHO -- WHOSE STATE ATTORNEY GENERAL OPPOSES THE BILL AND BANNED PAYDAY LENDING. SO -- MR. EMMER IS JOINING WITH MR. MCHENRY WHOSE STATE OPPOSES THE BILL, NORTH CAROLINA. MR. PITTENGER, NORTH CAROLINA. AGAIN, THE TWO OF THEM IN OPPOSITION TO THEIR OWN STATE ATTORNEYS GENERAL. AND NOW WE HAVE MR. ROTHFUS FROM PENNSYLVANIA. AND ALL OF THESE SPEAKERS ON THE OPPOSITE SIDE OF THE AISLE WHO ARE COMING HERE TO SUPPORT A BILL THAT WILL OPEN UP THE OPPORTUNITY FOR PAYDAY LENDERS TO BASICALLY RAM A BANK AND PUT THESE PAYDAY LOANS OUT THERE AT EXORBITANT AMOUNTS. THIS IS RATHER ODD TO SEE SO MANY MEMBERS REPRESENTING, SUPPOSEDLY, THEIR CONSTITUENTS, WHO COME FROM STATES WHERE PAYDAY LENDING HAS BEEN BANNED. AND THEIR ATTORNEYS GENERALS OPPOSE THIS LEGISLATION. I RESERVE THE BALANCE OF MY TIME.

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                          • 02:50:04 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 02:50:06 PM

                            MR. HENSARLING

                            I YIELD MYSELF TWO MINUTES.

                          • 02:50:09 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 02:50:11 PM

                            MR. HENSARLING

                            NUMBER ONE, JUST FOR THE RECORD IT'S MR. ROTHFUS OF PENNSYLVANIA. AND MR.…

                            NUMBER ONE, JUST FOR THE RECORD IT'S MR. ROTHFUS OF PENNSYLVANIA. AND MR. PITTENGER OF NORTH CAROLINA. SINCE WE SERVE WITH THESE COLLEAGUES, IT WOULD BE NICE TO LEARN THEIR NAMES. MR. SPEAKER, WHAT THE RANKING MEMBER IS PROPOSING IS TO TAKE AWAY CREDIT OPPORTUNITIES FOR THOSE WHO NEED IT THE MOST. THE GREATEST CREDIT PROGRAM IS A COMPETITIVE MARKETER MARKETPLACE -- COMPETITIVE MARKETPLACE. UNFORTUNATELY, THE POLICY SHE IS ADVOCATING, THIS SECOND CIRCUIT COURT CASE, HAS CUT CREDIT OPPORTUNITIES IN HALF. THAT MEANS PEOPLE ARE PAYING MORE. IN MANY RESPECTS THIS IS A MORE USURIOUS RESULT THAN WHAT THE RANKING MEMBER IS OTHERWISE CLAIM WILL GO HAPPEN WITHOUT THE SECOND CIRCUIT DECISION. AGAIN, I ALLUDED TO IT IN MY OPENING STATEMENT, BUT WE HAVE THE DEFINITIVE ACADEMIC STUDY. WE DON'T HAVE TO GUESS AT THIS, MR. SPEAKER. THEY STUDIED THOSE WITH LOWER CREDIT SCORES IN THE SECOND CIRCUIT. WHAT DID THEY FIND OUT? THEY INDICATED THAT THE FICA -- I'LL QUOTE, THE RESULTS PRESENTED IN FIGURE 3 INDICATE THAT THE FOCO INCREASE WAS CAUSED BY A DECLINE, A DECLINE IN LENDING TO LOWER -- FICO INCREASE WAS CAUSED BY A DECLINE, A DECLINE IN LENDING TO LOWER QUALITY BOW ROWERS. THOSE WITH FICO SCORES BELOW 625. THE GROWTH RATE FOR THESE BORROWERS IN CONNECTICUT AND NEW YORK WAS A NEGATIVE 52%. MR. SPEAKER, THAT MEANS THEY HAD THEIR CREDIT OPPORTUNITIES CUT IN HALF. AND SO EXACTLY WHAT THE RANKING MEMBER SAYS THAT SHE WANTS TO DO TO HELP THESE PEOPLE, SHE'S HURTING THESE PEOPLE. TAKING AWAY THEIR OPPORTUNITIES TO BUY A HOME. TAKING AWAY THEIR OPPORTUNITIES TO BUY A CAR WHEN THEY MAY BE THE SOUL BREADWINNER FOR THEIR FAMILY. TAKING AWAY OPPORTUNITIES TO SEND SOMEBODY TO COLLEGE. I YIELD MYSELF AN ADDITIONAL 30 SECONDS.

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                          • 02:52:26 PM

                            MR. HENSARLING

                            AND THEN THIS SO-CALLED RADICAL BILL OF THE GENTLEMAN FROM NORTH CAROLINA…

                            AND THEN THIS SO-CALLED RADICAL BILL OF THE GENTLEMAN FROM NORTH CAROLINA I WOULD NOTE IT'S A DEMOCRAT BILL IN THE SENATE. THE EXACT COMPANION BILL IS CARRIED BY A DEMOCRAT SENATOR. SENATOR WARNER OF VIRGINIA. IT'S A DEMOCRAT BILL. IT'S BIPARTISAN. IT'S SUPPORTED BY AT LEAST NINE MEMBERS OF THE RANKING MEMBER'S PARTY THAT SIT WITH HER IN OUR HEARINGS. CLEARLY THEY HEARD SOMETHING SHE DIDN'T HEAR. AGAIN, MR. SPEAKER, IT IS IMPORTANT TO NOTE THAT WHAT THE SECOND CIRCUIT HAS DONE IS CHANGE SUBTLE LAW THAT'S BEEN SETTLED LAW FOR OVER 200 YEARS THAT WILL COMPLETELY, NOT ONLY CUT CREDIT OPPORTUNITIES IN THE SECOND CIRCUIT, BUT CUT CREDIT OPPORTUNITIES ALL OVER AMERICA. WE CANNOT ALLOW THAT TO HAPPEN. MR. SPEAKER, I'M NOW PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MICHIGAN, MR. TROT, A -- TROTT A. MEMBER OF THE FINANCIAL SERVICES COMMITTEE. MR. --

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                          • 02:53:29 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN WILL SUSPEND. THE GENTLEMAN FROM CALIFORNIA IS RECOGNIZED.

                          • 02:53:34 PM

                            MS. WATERS

                            THANK YOU VERY MUCH. MR. SPEAKER, AND MEMBERS, I THINK MY FRIEND ON THE…

                            THANK YOU VERY MUCH. MR. SPEAKER, AND MEMBERS, I THINK MY FRIEND ON THE OPPOSITE SIDE OF THE AISLE, THE CHAIRMAN, IS RIGHT. I MUST MAKE SURE THAT I AM CORRECT IN THE WAY THAT I IDENTIFY MY COLLEAGUES WHO THEY ARE AND WHAT STATES THEY COME FROM. SO I'D LIKE TO REPEAT. MR. MCHENRY IS FROM NORTH CAROLINA. MR. PITTENGER IS FROM NORTH CAROLINA. AND THE ATTORNEYS GENERALS FROM BOTH OF THOSE STATES OPPOSE THIS BILL AND BOTH OF THESE STATES HAVE BANNED PAYDAY LENDING. ALSO LET ME JUST MENTION THAT MR. ROTHFUS FROM PENNSYLVANIA IS ANOTHER ONE WHO IS OPPOSED BY HIS ATTORNEY GENERAL. HIS ATTORNEY GENERAL IS OPPOSED TO THIS BILL, IS OPPOSED TO HIS REPRESENTATION, AND PENNSYLVANIA HAS BANNED PAYDAY LENDING. AND OF COURSE, WE WERE JOINED BY MR. EMMER WHO IS FROM MINNESOTA. MINNESOTA IS IN THE SAME POSITION THAT EVERYBODY UNDERSTANDS WHO THESE MEMBERS ARE THAT ARE COMING HERE IN OPPOSITION TO THEIR ATTORNEYS GENERAL AND OPPOSITION TO THEIR STATE. THESE ARE REPRESENTATIVES FROM STATES THAT OPPOSE THIS BILL. THESE ARE REPRESENTATIVES FROM STATES WHO HAVE BANNED PAYDAY LENDING. AND SO I WANT TO BE SURE THAT I AGREE WITH MY CHAIRMAN, WE SHOULD LET EVERYONE KNOW WHO THEY ARE. WE SHOULD PRONOUNCE THEIR NAMES CORRECTLY. WE SHOULD BE SURE THAT THEY UNDERSTAND ALL OF THEIR -- ALL OF THEIR CONSTITUENTS UNDERSTAND WHO THEIR REPRESENTATIVES ARE AND WHAT THEY ARE DOING HERE TODAY ON THIS BILL THAT WILL HELP TO EXPLODE PREDATORY LENDING. THIS IS THE RENT A BANK BILL THAT WOULD ALLOW PAYDAY LENDERS TO BUY UP DEBT FROM NATIONAL BANKS AND BE ABLE TO CHARGE WHATEVER THEY WOULD LIKE, 300% AND MORE, TO UNSUSPECTING CONSUMERS. SO THANK YOU, MR. CHAIRMAN, FOR HELPING ME TO MAKE THAT CLEAR. I RESERVE THE BALANCE OF MY TIME.

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                          • 02:56:21 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 02:56:24 PM

                            MR. HENSARLING

                            YIELD MYSELF 10 SECONDS JUST TO SAY APPARENTLY MR. MEEKS IS ABUSING THESE…

                            YIELD MYSELF 10 SECONDS JUST TO SAY APPARENTLY MR. MEEKS IS ABUSING THESE CONSUMERS AS IS MR. CLAY AS IS MR. SCOTT AS IS MR. CLEAVER AS IS MS. MOORE, AS IS MR. PERLMUTTER, AS IS MS. SINEMA, AND AS IS MR. HECK, AND AS IS MR. GOTTHEIMER, ALL DEMOCRATS ON THE HOUSE FINANCIAL SERVICES COMMITTEE THAT ACTUALLY SUPPORT THIS LEGISLATION. NOW, MR. CHAIRMAN, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MICHIGAN, MR. TROTT, A MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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                          • 02:56:57 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM MICHIGAN IS RECOGNIZED.

                          • 02:56:59 PM

                            MR. TROTT

                            I THANK THE CHAIRMAN FOR YIELDING. MR. SPEAKER, I RISE IN SUPPORT OF H.R.…

                            I THANK THE CHAIRMAN FOR YIELDING. MR. SPEAKER, I RISE IN SUPPORT OF H.R. 3299, THE PROTECTING CONSUMERS ACCESS TO CREDIT ACT. I THANK MY GOOD FRIEND FROM NORTH CAROLINA, MR. MCHENRY, FOR HIS LEADERSHIP ON THIS BIPARTISAN COMMONSENSE BILL. THIS IS A COMMONSENSE PIECE OF LEGISLATION THAT IS SPONSORED BY TWO REPUBLICANS, TWO DEMOCRATS. IT PASSED OUT OF OUR COMMITTEE WITH A VOTE OF 42-17. IT IS THE KIND OF BIPARTISAN SOLUTION THAT THE AMERICAN PEOPLE EXPECT FROM THEIR ELECTED OFFICIALS. YET OPPONENTS OF THIS BILL WANT PEOPLE TO BELIEVE THAT IT WILL HURT CONSUMERS. WE HEARD SIMILAR RHETORIC ON THE RECENT TAX BILL PASSED IN CONGRESS. WE STILL HEAR IT EVEN THOUGH MILLIONS OF AMERICANS ARE GETTING BONUSES, TAKING NEW AND BETTER JOBS, AND SEEING THEIR SAVINGS ACCOUNT GROW. LET'S BE CLEAR, THIS BILL WILL ALLOW BANKS AND CREDIT UNIONS TO SELL CERTAIN LOANS TO INVESTORS, THUS DIVERSE FILING THEIR RISK AND FREEING UP CAPITAL THAT CAN BE USED TO ISSUE MORE LOANS IN LOCAL COMMUNITIES. IMAGINE THAT. WHY IS THIS COMMONSENSE LEGISLATION NECESSARY? RECENT CASE OUT OF THE SECOND CIRCUIT RULED THAT CERTAIN LOANS WOULD BE VALID WHEN HELD ON THE BOOKS OF BANK BUT INVALID THE MINUTE THEY ARE SOLD TO INVESTORS. I FAIL TO SEE HOW THIS LOAN -- HOW A LOAN BECOMES MORE DANGEROUS OR OTHERWISE PROBLEMATIC BECAUSE THE OWNER OF THE LOAN HAS CHANGED. THIS IS LIKE SAYING A HOUSE'S ROOF BECAUSE LEAKY THE MINUTE YOU SELL IT TO YOUR NEIGHBOR. THIS IS THE SORT OF LOGIC THAT CAN ONLY THRIVE IN WASHINGTON. WHAT HAPPENS WHEN BANKS AND CREDIT UNIONS CAN NO LONGER SELL LOANS ON THE PUBLIC MARKET? THEY ISSUE FEWER LOANS. FEWER YOUNG PARENTS CAN GET A MORTGAGE FOR THEIR NEW HOME. FEWER SINGLE MOTHERS CAN GET A LOAN FOR A NEW CAR. 8 GET A MORTGAGE FOR -- FEWER STUDENTS CAN GET A CRITICAL LOAN. FEWER BUSINESS CAN GET LOANS TO BRING INNOVATIVE IDEAS TO THE MARKET TO CREATE JOBS. THIS BILL IS NOT RENT A BANK. IT WILL NOT RESULT IN USURIOUS INTEREST RATES. I WAS AT A RESTAURANT AND STRUCK UP A CONVERSATION WITH THE WAITRESS. SHE CAN'T GET A MORTGAGE. SHE CAN'T BUY A HOME EVEN THOUGH HER AND HER HUSBAND HAVE GOOD CREDIT. THAT'S THE PROBLEM WE'RE TRYING TO ADDRESS. I WOULD ASK THE OPPONENTS OF THIS BILL TO PUT ASIDE POLITICS, JOIN ME IN SUPPORTING LEGISLATION THAT WILL HELP YOUNG FAMILIES, BUSINESSES, AND STUDENTS. THIS BILL WILL MAKE CREDIT ACCESSIBLE. I URGE ALL MEMBERS TO VOTE FOR IT AND I YIELD BACK THE BALANCE OF MY TIME.

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                          • 02:59:19 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

                          • 02:59:22 PM

                            MS. WATERS

                            THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, CHAIRMAN HENSARLING HAS…

                            THANK YOU VERY MUCH. MR. SPEAKER AND MEMBERS, CHAIRMAN HENSARLING HAS NAMED THE MEMBERS ON MY SIDE OF THE AISLE, THE DEMOCRATS, THAT SUPPORT THIS BILL. NONE OF THEM ARE ON THE FLOOR AT THIS TIME. NONE OF THEM CAME HERE TO DEFEND THE POSITION THAT THEY TOOK. SOME OF THEM ARE RECONSIDERING THE VOTE THAT THEY TOOK. AND SO I DON'T WANT HIM TO TRY AND WRAP THIS BILL AROUND THE FACT THAT THERE WAS SOME DEMOCRATS THAT SUPPORTED IT. THIS IS A REPUBLICAN BILL. THIS IS A BILL BY THE OPPOSITE SIDE OF THE AISLE THAT SUPPORTS PAYDAY LENDING, AND THE ABILITY FOR PAYDAY LENDERS TO CONTINUE TO EXPLOIT THEIR CONSUMERS IN A NEW AND DIFFERENT WAY. THEY SIMPLY ALLOW THEM TO BUY UP THIS DEBT FROM THE NATIONAL BANKS AND BE ABLE TO BASICALLY OVERCOME USURY LAWS. SO WHILE HE WOULD LIKE EVERYONE TO BELIEVE THERE'S ALL THIS GREAT DEMOCRAT SUPPORT AND HE KEEPS SAYING OVER AND OVER AGAIN HOW BIPARTISAN THIS BILL IS, NONE OF THEM ON THE FLOOR AT THIS TIME. NONE OF THEM CAME HERE TO DEFEND THEIR POSITION. NONE OF THEM HAVE SAID I KNOW THAT I'M ABSOLUTELY CORRECT AS A MATTER OF FACT. SOME OF THEM ARE RAISING QUESTIONS ABOUT WHETHER OR NOT THEY SHOULD HAVE VOTED FOR THE BILL. UNDERSTANDING IT IN ONE PARTICULAR WAY AND SOME NOW UNDERSTANDING WHAT IT REALLY DOES. . I THANK THE GENTLEMAN FOR HIS POSITION, AND I THANK HIM FOR BEING A STRONG ADVOCATE FOR HIS POSITION. I THANK HIM FOR AT LEAST STEPPING UP TO THE PLATE TO SAY IN ESSENCE, HE BELIEVES HE'S DOING THE RIGHT THING DESPITE THE FACT THAT HE HAS MEMBERS ON THAT SIDE OF THE AISLE WHO ARE GOING AGAINST THEIR OWN STATES' ATTORNEY GENERALS. THIS IS NOT A GREAT DEMOCRATIC BILL. AND I RESERVE.

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                          • 03:01:35 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 03:01:39 PM

                            MR. MCHENRY

                          • 03:02:02 PM

                            THE SPEAKER PRO TEMPORE

                            NORTH CAROLINA. THE SPEAKER PRO TEMPORE: THE GENTLEMAN IS RECOGNIZED.

                          • 03:02:06 PM

                            MR. BUDD

                            I THANK THE CHAIRMAN. I RISE TODAY IN STRONG SUPPORT OF THIS BIPARTISAN…

                            I THANK THE CHAIRMAN. I RISE TODAY IN STRONG SUPPORT OF THIS BIPARTISAN LEGISLATION, THE PROTECTING CONSUMERS' ACCESS TO CREDIT ACT OF 2017. MR. SPEAKER, WE ARE ON THE VERGE OF SOMETHING SPECIAL IN THE FINANCIAL SERVICES SPACE WITH TECHNOLOGY OPENING THE INDUSTRY UP TO AMAZING INNOVATION. HOWEVER, AS MANY OF US GATHERED HERE TODAY KNOW THE SECOND CIRCUIT'S DECISION IN THE MADDEN CASE HAS PUT THIS MOVEMENT IN JEOPARDY AND DONE SO BY UNDERMINING A PRINCIPLE WHICH ALLOWED FINTECH LENDERS WITH ISSUES THAT NEED TO BE ADDRESSED. LUCKILY, MR. MCHENRY'S LEGISLATION PROVIDES A FIX TO THE SECOND CIRCUIT'S DECISION BY CODIFYING VALID WHEN MADE LEGAL DOCTRINE. THIS HAS BEEN AROUND AND ACCEPTED IN THE FINANCIAL SERVICES SPACE FOR SOME TIME. THIS

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                          • 03:03:03 PM

                            MR. WILLIAMS

                            ALLOW CREATIVE SOURCES OF CAPITAL TO REACH THE ZUMER AND SMALL BUSINESSES…

                            ALLOW CREATIVE SOURCES OF CAPITAL TO REACH THE ZUMER AND SMALL BUSINESSES AND THIS IS IMPORTANT BECAUSE IT WILL HELP TO PRESERVE THE RELATIONSHIP BETWEEN BANKS AND FINTECH FIRMS. I'M THANKFUL THIS LEGISLATION IS COMING UP FOR A VOTE TODAY BECAUSE IT IS DEBATELY NEEDED AND IF ENACTED WILL HELP OUR ECONOMY CONTINUE TO GROW. THIS BODY MUST CONTINUE TO SERVE AS AN ADVOCATE FOR INNOVATION IN THE CREDIT AND TECHNOLOGY SPACE BECAUSE IT WILL BENEFIT COMMUNITY DEVELOPMENT, JOB CREATION AND MOST IMPORTANTLY THE CONSUMER. MR. SPEAKER, I URGE ADOPTION OF THIS BIPARTISAN AND COMMONSENSE PIECE OF LEGISLATION. I YIELD BACK.

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                          • 03:03:44 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN FROM CALIFORNIA IS RECOGNIZED.

                          • 03:03:48 PM

                            MS. WATERS

                            THERE WAS A REFERENCE TO SENATOR WARNER. AND HE SAID THAT THE MADDEN FIX…

                            THERE WAS A REFERENCE TO SENATOR WARNER. AND HE SAID THAT THE MADDEN FIX BILL MUST ADDRESS PAYDAY LOOPHOLES. I ALLUDED TO THIS KIND OF THINKING ABOUT THOSE WHO MAY HAVE SUPPORTED THE BILL WITHOUT REALLY GIVING A LOT OF THOUGHT TO THIS LOOPHOLE BUT I WANT YOU TO KNOW THAT EVEN THE AUTHOR OF THE BILL, SENATOR WARNER, IS SAYING THAT MADDEN FIX BILL MUST ADDRESS PAYDAY LENDER LOOPHOLES. WITH THAT, MR. SPEAKER, I HAVE NO MORE SPEAKERS. AND NO MORE FURTHER REQUESTS FOR TIME AND I'M PREPARED TO CLOSE. SO I YIELD MYSELF THE REMAINDER OF MY TIME. H.R. 3299 IS A BILL THAT WOULD MAKE IT EASIER FOR BAD ACTORS TO GET AROUND INTEREST RATE CAPS THAT STATES HAVE PUT INTO PLACE TO PROTECT BORROWERS FROM PAYDAY TRAPS. THE AVAILABILITY OF AFFORDABLE CREDIT IS VERY IMPORTANT IN EVERY COMMUNITY AND WE SHOULD WORK TOGETHER ON WAYS TO MAKE SURE THAT UNDERSERVED COMMUNITIES HAVE FAIR ACCESS TO CREDIT AND BANKING SERVICES. BUT MEASURES LIKE H.R. 3299 DO NOT ADVANCE THAT GOAL. IN FACT, THE BILL WOULD DO THE OPPOSITE. IT WOULD OPEN THE DOOR FOR NONBANKS TO IGNORE PROTECTIONS AND MAKE LOANS WITH HIGH INTEREST RATES. THE BILL WOULD USHER IN A WAVE OF HARMFUL HIGH-COST PAYDAY LOANS IN STATES WHERE THESE LOANS WERE PREVIOUSLY DISALLOWED. LAST MONTH, MICK MULVANEY WHO PRESIDENT TRUMP ILLEGALLY APOINTED TO BE HEAD OF THE CONSUMER FINANCIAL PROTECTION BUREAU DIRECTED THE CONSUMER BUREAU TO RECONSIDER ITS SENSIBLE AND MUCH NEEDED RULE ON PAYDAY VEHICLE TITLES AND CERTAIN HIGH COST INSTALLMENT LOANS. THAT RULE PLACED UNDER THE LEADERSHIP WOULD REQUIRE PAYDAY LENDERS TO ENSURE THAT CONSUMERS CAN AFFORD TO PAY OFF THEIR LOANS. DONALD TRUMP AND MULVANEY ARE UNDERMINING THE CONSUMER BUREAU RULE AND ROLLING BACK AND UNDERMINING THE CRITICAL PROTECTIONS PUT IN PLACE BY DEMOCRATS IN THE DODD-FRANK REFORM AND CONSUMER PROTECTION ACT. AND TO RECONSIDER THE PAYDAY RULE, MULVANEY HAS DRAWN A LAWSUIT AGAINST A GROUP OF PAYDAY LENDERS WHO ALLEGEDLY FAILED TO DISCLOSE THE TRUE COST OF LOANS WHICH HAD INTEREST RATES AS HIGH AS 950% A YEAR. CONGRESS SHOULD BE STANDING UP AND ENHANCING PROTECTIONS FOR OUR CONSUMERS, NOT LEGISLATING, TO MAKE IT EASIER FOR HARD-WORKING AMERICANS TO BE DRAWN INTO PAYDAY DEBT TRAPS. THIS IS OPPOSED BY OVER 200 CONSUMER AND CIVIL RIGHTS GROUPS, INCLUDING THE LEADERSHIP CONFERENCE ON CIVIL AND HUMAN RIGHTS, THE NAACP, THE NATIONAL CONSUMER LAW CENTER, THE SOUTHERN POVERTY LAW CENTER AND MANY, MANY OTHERS. AND SO, I THINK IT IS CLEAR WHAT WE ARE ADVOCATING ON THIS SIDE OF THE AISLE, WE'RE SIMPLY SAYING THAT WE SHOULD NOT CREATE THIS LOOPHOLE. THAT WE SHOULD UNDERSTAND THE STRUGGLE THAT MANY OF US HAVE BEEN IN TO TRY AND KEEP PAYDAY LENDERS FROM GOING INTO THE MOST VULNERABLE NEIGHBORHOODS TARGETING THE MOST VULNERABLE PEOPLE, TAKING ADVANTAGE OF FOLKS WHO HAVE NO PLACE TO TURN AND WHO NEED A FEW DOLLARS UNTIL PAY DAY, TAKING ADVANTAGE OF THEM AND TRAPPING THEM INTO THESE LOANS AND CREATING ALL OF THIS DEBT FOR THEM. AND THIS WOULD JUST GO A LONG WAY TO CONTINUE THAT KIND OF MADNESS. AND SO I WOULD URGE MEMBERS TO VOTE NO ON THE BILL. AND WITH THAT, I YIELD BACK THE BALANCE OF MY TIME

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                          • 03:08:12 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 03:08:16 PM

                            MR. MCHENRY

                            I YIELD TWO MINUTES TO THE GENTLEMAN FROM INDIANA.

                          • 03:08:23 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED. HOLE MOL I SPECIFICALLY --

                          • 03:08:30 PM

                            MR. HOLINGSWORTH

                            THE REGULATIONS THAT ARE HOLDING BACK CONSUMERS FROM GETTING THE PRODUCTS…

                            THE REGULATIONS THAT ARE HOLDING BACK CONSUMERS FROM GETTING THE PRODUCTS THEY WANT AND WE TALK ABOUT THEM IN SWEEPING TERMS. THIS IS A DAY WHEREIN THIS BILL WE ARE CODIFYING WHAT HAS BEEN THE LAW OF THE LAND FOR OVER FIVE DECADES. WHAT IS CURRENTLY THE LAW OF THE LAND IN 47 OUT OF 50 STATES. SO NOT ONLY HAS THIS HISTORICICALLY BEEN THE CASE WHAT WE ARE ARGUING HERE FOR BUT IT IS THE CASE IN 47 OUT OF 50 STATES. AND I DON'T THINK THOSE THREE STATES, THE CONSUMERS OF THOSE THREE STATES SHOULD BE DISADVANTAGED BY NOT BEING ABLE TO GROW BETTER FUTURES. THAT'S WHAT I HEAR BACK HOME. THEY WANT THE OPPORTUNITY TO GET LOANS, TO GET CREDIT AND MORE CHANCES FOR THEM TO BUILD BETTER FINANCIAL FUTURES AND THIS BILL DOES THAT. IT SOLVES THE PROBLEM OF UNCERTAINTY IN CAPITAL. THIS MAKES CLEAR WHAT HAS BEEN. IT DOESN'T CHANGE THE LAWS OR IMPACT PAYDAY BUT MERELY RESTATES THAT WHICH WE HAVE OPERATED UNDER FOR DECADES BEFORE THIS SECOND SICT DECISION AND SAYS THE LAW IN 47 STATES SHOULD BE THE LAW IN 50 STATES. VALID WHEN MADE IS AN IMPORTANT ASPECT OF OUR FINANCIAL MARKETS AND TURN OVER CAPITAL FREQUENTLY AND GET CAPITAL OUT TO MORE INDIVIDUALS. AND THAT'S WHAT WE ARE HERE FIGHTING FOR, MAKING SURE EVERYONE GETS THE OPPORTUNITY TO PARTICIPATE IN A BETTER ECONOMY BY BUILDING A FINANCIAL FUTURE AND H.R. 3299 GOES A LONG WAY IN SOLVING THAT PROBLEM BY A VERY SIMPLE, VERY NARROW FIX AND ENSURING THOSE THREE STATES GET TO PARTICIPATE IN THE BENEFIT OF A VIBRANT MARKET. SO I RISE IN SUPPORT OF THE LEGISLATION AND ENCOURAGE ALL MEMBERS HERE TO SUPPORT THIS LEGISLATION.

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                          • 03:10:34 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

                          • 03:10:37 PM

                            MR. MCHENRY

                            MAY I INQUIRE HOW MUCH TIME I HAVE REMAINING?

                          • 03:10:40 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN HAS A MINUTE AND A HALF REMAINING.

                          • 03:10:45 PM

                            MR. MCHENRY

                            I YIELD MYSELF THE --

                          • 03:10:48 PM

                            MR. HENSARLING

                            I YIELD MYSELF THE REMAINING TIME. LET ME TAKE THE LIBERTY OF QUOTING FROM…

                            I YIELD MYSELF THE REMAINING TIME. LET ME TAKE THE LIBERTY OF QUOTING FROM CONGRESSMAN GREG MEEKS, DEMOCRAT OF NEW YORK, THE LEAD DEMOCRAT CO-SPONSOR OF THE BILL WHO SAID DURING MARKUP SAID QUOTE, THIS BILL WOULD FACILITATE AFFORDABLE LENDING TO THOSE WHO NEED IT THE MOST. HE GOES ON TO SAY H.R. 3299 IS A COMMUNITY BANK BILL AND PROVIDED THESE INSTITUTIONS WITH EXPERTISE NEEDED TO CONTEND WITH LARGER COMPETITORS. THERE ARE FINTECH FIRMS ENGAGING WITH BLACK-OWNED BANKS WHO HAVE BENEFITED TREMENDOUSLY FROM NEW TECH OBLIGATION AND HE GOES ON TO SAY H.R. 3299 IS A SMALL BUSINESS BILL. ACCORDING TO THE URBAN INSTITUTE, 34% OF MY QUINTS IN JAMAICA QUEENS RELY ON ALTERNATIVE FINANCIAL SERVICE PROVIDERS INCLUDING RENT-TO-OWN AGREEMENTS AND REFUND ANTICIPATION LOANS BECAUSE THEY HAVE UNMET LENDING NEEDS. MADDEN DOES LITTLE TO HELP THESE INDIVIDUALS BUT SHUTS THE DOOR TO MORE BANK LOANS FACILITATED THROUGH PARTNERSHIP MODELS. I COULD GO ON, MADAM SPEAKER. BUT WHAT WE'RE TRYING TO DO HERE IS ASSURE THAT WHAT JUST HAPPENED IN THE SECOND CIRCUIT WHERE CREDIT OPPORTUNITIES ARE CUT IN HALF DOESN'T HAPPEN NATIONWIDE. THE HARD-WORKING MEN AND WOMEN OF AMERICA THEY DESERVE BETTER. SO WE MUST SUPPORT H.R. 3299 AND I YIELD BACK.

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                          • 03:12:32 PM

                            THE SPEAKER PRO TEMPORE

                            THE THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME FOR DEBATE…

                            THE THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME FOR DEBATE HAS EXPIRED. PURSUANT TO HOUSE RESOLUTION 736, THE PREVIOUS QUESTION IS ORDERED ON THE BILL. 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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                          • 03:12:50 PM

                            THE CLERK

                            A BILL TO AMEND THE REVISED STATUTES TO HOMEOWNERS LOAN ACT AND THE…

                            A BILL TO AMEND THE REVISED STATUTES TO HOMEOWNERS LOAN ACT AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE RATE OF INTEREST ON CERTAIN LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOAN AND FOR OTHER PURPOSES.

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                          • 03:13:05 PM

                            THE SPEAKER PRO TEMPORE

                            THE QUESTION IS ON PASSAGE OF THE BILL. THOSE IN FAVOR SAY AYE. THOSE…

                            THE QUESTION IS ON PASSAGE OF THE BILL. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THE BILL IS PASSED.

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                          • 03:13:17 PM

                            MR. HENSARLING

                            I REQUEST THE YEAS AND NAYS.

                          • 03:13:19 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 THE YEAS AND NAYS ARE ORDERED PURSUANT TO CLAUSE 8 OF RULE 20, FURTHER PROCEEDINGS ON THIS QUESTION WILL BE POSTPONED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS, MR. HENSARLING, SEEK RECOGNITION?

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                          • 03:13:44 PM

                            MR. HENSARLING

                            PURSUANT TO HOUSE RESOLUTION 736 I CALL H.R. 3978 AND ASK FOR ITS…

                            PURSUANT TO HOUSE RESOLUTION 736 I CALL H.R. 3978 AND ASK FOR ITS IMMEDIATE CONSIDERATION IN THE HOUSE.

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                          • 03:13:53 PM

                            THE CLERK

                            UNION CALENDAR NUMBER 389, H.R. 3978, A BILL TO AMEND THE REAL ESTATE…

                            UNION CALENDAR NUMBER 389, H.R. 3978, A BILL TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO MODIFY REQUIREMENTS RELATED TO MORTGAGE DISCLOSURES AND FOR OTHER PURPOSES.

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                          • 03:14:08 PM

                            TEMPORE PURSUANT

                            PURSUANT TO HOUSE RESOLUTION 736, AN AMENDMENT IN THE NATURE OF A…

                            PURSUANT TO HOUSE RESOLUTION 736, AN AMENDMENT IN THE NATURE OF A SUBSTITUTE CONSISTING OF RULES COMMITTEE PRINT 115-59 MODIFIED IN HOUSE REPORT 115- DASH 559 IS ADOPTED AND THE BILL AS AMENDED IS CONSIDERED READ. THE BILL AS AMENDED SHALL BE DEBATABLE FOR ONE HOUR EQUALLY DIVIDED AND CONTROLLED BY THE CHAIR AND RANKING MINORITY MEMBER ON THE COMMITTEE OF FINANCIAL SERVICES. AFTER ONE HOUR OF DEBATE ON THE BILL, IT SHALL BE IN ORDER TO CONSIDER THE FURTHER AMENDMENT PRINTED IN PART C OF HOUSE REPORT 115-559. IF OFFERED BY THE MEMBER DESIGNATED IN THE REPORT WHICH SHALL BE CONSIDERED READ, SHALL BE SEPARATELY DEBATABLE FOR THE TIME SPECIFIED IN THE REPORT EQUALLY DIVIDED AND CONTROLLED BY AN PROPONENT AND OPPONENT AND SHALL NOT BE SUBJECT TO DEMAND. THE GENTLEMAN FROM TEXAS, MR. HENSARLING AND THE GENTLEWOMAN FROM CALIFORNIA, MS. WATERS, EACH WILL CONTROL 30 MINUTES. .

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                          • 03:15:18 PM

                            MR. HENSARLING

                            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 SUBMIT EXTRANEOUS MATERIAL ON THE BILL UNDER CONSIDERATION. INYIELD MYSELF AS MUCH TIME AS I -- I YIELD MYSELF AS MUCH TIME AS I MAY CONSUME. I RISE TODAY IN STRONG SUPPORT OF H.R. 3978. WHICH IS A PACKAGE OF FIVE STRONGLY BIPARTISAN BILLS. YET AGAIN, FROM THE FINANCIAL SERVICES COMMITTEE OF THE HOUSE. AS STAND-ALONE BILL, ALL WERE FAVORABLY REPORTED, AGAIN, WITH STRONG BIPARTISAN SUPPORT OF AT LEAST 3/4 OF THE COMMITTEE -- OF THE COMMITTEE. THE TITLE PROVISION OF THIS PACKAGE IS THE TRID IMPROVEMENT ACT BY CONGRESSMAN FRENCH HILL. THIS BILL AMENDS CFPB'S COMPLEX INTEGRATED DISCLOSURE KNOWN AS TRID RULE IN ORDER TO SIMPLIFY THE CLOSING DOCUMENTS CONSUMERS GET WHEN THEY CLOSE A MORTGAGE. IT DOES THIS BY ALLOWING FOR THE CALCULATION OF THE DISCOUNTED RATE THAT TITLE INSURANCE COMPANIES PROVIDE TO CONSUMERS WHEN THEY PURCHASE A LENDER'S AND OWNER'S TITLE INSURANCE POLICY SIMULTANEOUSLY. THIS MAKES IT MORE ACCURATE, MADAM SPEAKER. TITLE 2 IS THE PROTECTION OF SOURCE CODE ACT INTRODUCED BY REPRESENTATIVES SEAN DUFFY AND DAVID SCOTT, A REPUBLICAN AND A DEMOCRAT. THIS PROVISION ENSURES THAT THE SECURITIES AND EXCHANGE COMMISSION CANNOT REQUIRE FINANCIAL SERVICES FIRMS TO DISCLOSE TRADING SOURCE CODE WITHOUT FIRST OBTAINING A SUBPOENA. SOURCE CODE IS AMONG A FIRM'S MOST SENSITIVE INFORMATION AND THIS BIPARTISAN PROVISION BALANCES PRIVACY AND DUE PROCESS CONCERNS WHILE PRESERVING THE S.E.C.'S ABILITY TO OBTAIN SUCH INFORMATION WHEN NECESSARY. THE THIRD TITLE IS THE FOSTERING INNOVATION ACT, WHICH WAS INTRODUCED BY REPRESENTATIVES SINEMA AND HOLLINGSWORTH TO PROVIDE RELIEF TO SMALL AND EMERGING BUSINESSES BY EXTENDING THE POPULAR ON-RAMP EXEMPTION OF THE JOBS ACT FOR EMERGING GROWTH COMPANIES IN A MORE TAILORED MANNER. IN SHORT, IT PROVIDES EMERGING GROWTH COMPANIES MORE TIME TO REACH A SIZE WHEN THEY REASONABLY CAN BE EXPECTED TO FINANCIALLY SUSTAIN THE LEGAL ACCOUNTING AND COMPLIANCE COSTS ASSOCIATED WITH THE FULL SARBANES-OXLEY SECTION 404-B COMPLIANCE. FOURTH, MADAM SPEAKER, IS THE NATIONAL SECURITIES EXCHANGE REGULATORY PARITY ACT, WHICH IS INTRODUCED BY MR. ROYCE AND WHICH WILL ENSURE FURTHER CLARITY AND COMPETITION AMONG NATIONAL SECURITY EXCHANGES BY MODERNIZING THE BLUE SKY EXEMPTION IN THE SECURITIES ACT. MODERNIZING THIS PROVISION WILL ENSURE ALL NATIONAL SECURITY EXCHANGES OPERATE ON A LEVEL REGULATORY PLAYING FIELD AND HELP PROTECT RETAIL INVESTORS FROM ARBITRARY ACTS, BY STATE REGULATES THAT ARE MAY BARREN INVESTORS IN ONE STATE FROM BUYING -- BAR INVESTORS IN ONE STATE FROM BUYING FROM OTHER INVESTORS IN EVERY OTHER STATE. THE FINAL TITLE OF THIS BILL IS A PROVISION INTRODUCED BY CONGRESSMAN STIVERS TO ALLOW MORTGAGE LOAN ORIGINATORS WHO WORK AS LOAN OFFICERS IN BANKS AND CREDIT UNIONS TO TRANSITION TO A NEW JOB AT A NONMORTGAGE COMPANY WITHOUT LOSING THE ABILITY TO ORIGINATE LOANS. WITHOUT THIS BILL THE TRANSITION PROCESS CAN TAKE WEEKS OR MONTHS DEPENDING ON THE STATE. EACH OF THESE MEASURES, MADAM SPEAKER, WILL CUT THROUGH LAYERS OF RED TAPE AND HELP LEVEL THE PLAYING FIELD, BY MAKING REGULATIONS SMARTER, FAIRER, CLEARER AND MORE EFFICIENT. THUS, THUS ENSURING THAT THERE ARE MORE COMPETIVELY PRICED CREDIT OPPORTUNITIES AND MORE CREDIT OPPORTUNITIES FOR CONSUMERS, AND THAT INVESTORS ARE GREATER INVESTMENT OPPORTUNITIES -- HAVE GREATER INVESTMENT OPPORTUNITIES IN COMPETITIVE MARKETS. THEY WILL PROVIDE COMMONSENSE REGULATORY RELIEF. THEY ARE PRACTICAL. THEY ARE BIPARTISAN. AND THEY ARE NEEDED. I ENCOURAGE ALL OF MY COLLEAGUES TO SUPPORT THE MEASURE AND I RESERVE THE BALANCE OF MY TIME.

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                          • 03:19:21 PM

                            THE SPEAKER PRO TEMPORE

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

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

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                          • 03:19:25 PM

                            MS. WATERS

                            THANK YOU VERY MUCH. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MADAM…

                            THANK YOU VERY MUCH. I YIELD MYSELF SUCH TIME AS I MAY CONSUME. MADAM SPEAKER, I RISE IN STRONG OPPOSITION TO H.R. 3978, THE TRID IMPROVEMENT ACT OF 2018, H.R. 3978 HAS BEEN DRAMATICALLY EXPANDED WITHOUT INPUT FROM DEMOCRATS, TO INCLUDE SEVERAL HIGHLY PROBLEMATIC AND DAMAGING BILLS. IF ENACTED, THIS AMENDED PACKAGE OF BILLS WOULD EASILY -- EASE THE ABILITY OF HIGH FREQUENCY TRADERS TO MANIPULATE THE STOCK MARKETS UNDETECTED, ENCOURAGE A REGULATORY RACE TO THE BOTTOM AT OUR NATION'S STOCK EXCHANGES, AND HARM INVESTORS AND SMALL BUSINESSES BY WEAKENING EFFORTS TO PREVENT ACCOUNTING FRAUD AT SMALLER PUBLIC COMPANIES. TAKEN TOGETHER, THIS DEREGULATORY PACKAGE COULD SIGNIFICANTLY UNDERMINE MARKET STABILITY AND GUT INVESTOR AND CONSUMER PROTECTIONS AT A TIME WHEN OUR FINANCIAL MARKETS ARE ALREADY RATTLED. MR. SPEAKER, MADAM SPEAKER, RATHER, FROM JANUARY 26 UNTIL LAST THURSDAY, THE STOCK MARKET'S PLUNGE -- STOCK MARKET PLUNGED JUST OVER 10%, BECOMING WHAT THE FINANCIAL SERVICES INDUSTRY CALLS, AND I QUOTE, STOCK MARKET CORRECTION, QUOTE-UNQUOTE. AND FOR THE PAST TWO TRADING DAYS, MARKETS HAVE REBOUNDED THE MOST SINCE 2016. ALTHOUGH MARKET CORRECTIONS ARE NOT NEW, WHAT DISTINGUISHES TODAY'S VOLATILITY IS THAT IT IS DRIVEN BY COMPLEX COMPUTER STRATEGIES DESIGNED TO BUY AND SELL STOCKS AND OPTIONS MILLIONS OF TIMES A DAY. AS MANY OF US HAVE WITNESSED, THE DOW JONES INDUSTRIAL AVERAGE MAY BE UP 500 POINTS AND THEN DOWN 600 IN LESS THAN A FEW MINUTES. FOR THE AVERAGE AMERICAN, WHO IS HOPING TO ONE DAY RETIRE WITH DIGNITY BY INVESTING HER HARD-EARNED SAVINGS IN THE STOCK MARKET, IT CAN BE DISTRESSING TO SEE SUCH WILD SWINGS, ALWAYS WONDERING WHETHER THE MARKETS ARE TRULY FAIR OR WHETHER SHE IS GOING TO BE FLEECED. UNFORTUNATELY THE PASSAGE OF H.R. 3978 WOULD LIKELY MAKE THOSE SWINGS MORE EXTREME AND INCREASE THE LIKELIHOOD OF PROBLEMS GOING FORWARD. I'M GOING TO WALK THROUGH EACH OF THE PROBLEMATIC PROVISIONS IN THIS BILL. BEGINNING WITH TITLE 4, THIS PROVISION IS IDENTICAL TO H.R. 4546, THE NATIONAL SECURITIES AND EXCHANGE REGULATORY PARITY ACT, WHICH WOULD WEAKEN THE STANDARDS FOR LISTING PUBLIC COMPANIES FOR TRADING AT U.S. STOCK EXCHANGES. TODAY EXCHANGES LISTING STANDARDS SET MINIMUM REQUIREMENTS FOR A COMPANY'S SHARES TO BE SOLD TO THE PUBLIC WITHOUT HAVING TO COMPLY WITH STATE LAW. EXCHANGES CAN ONLY REVISE THESE STANDARDS IF THE SECURITIES AND EXCHANGE COMMISSION FIRST FINDS THAT NEW STANDINGS ARE SUBSTANTIALLY SIMILAR TO THE LISTING STANDARDS OF THE NEW YORK STOCK EXCHANGE. THIS BILL WOULD REMOVE ANY SEPARATE ANALYSIS FOR CHANGING THE STANDARDS AND THUS AUTOMATICALLY PREEMPT STATE OVERSIGHT. AS A RESULT, THE BILL WOULD ENCOURAGE A RACE TO THE BOTTOM OF LISTING STANDARDS AS EXCHANGES COMPETE WITH EACH OTHER TO ATTRACT COMPANIES WITH LESS RESTRICTIONS. EVEN IF THE STANDARDS ARE BENEFICIAL TO THE INVESTORS. I BELIEVE THAT WE SHOULD BE STRENGTHENING THE CURRENT ANALYSIS TO PROMOTE FAIR AND RIGOROUS LISTING STANDARDS AND ONLY PREEMPT STATE LAW WHEN COMPANIES MEET HIGH STANDARDS. THIS IS WHY I WORK WITH THE CO-SPONSORS -- I WORKED WITH THE CO-SPONSORS LAST CONGRESS TO STRIKE A BIPARTISAN COMPROMISE, WHICH PASSED THE HOUSE UNANIMOUSLY, TO REQUIRE THE S.E.C. TO DEVELOP A CORE QUALITATIVE LISTING STANDARD. UNFORTUNATELY MY REPUBLICAN COLLEAGUES HAVE REVERSED THEIR POSITION IN FAVOR OF EMPOURG THE INDUSTRY OVER THE -- EMPOWERING THE INDUSTRY OVER THE INVESTING PUBLIC. TURNING TO TITLE 3, WHICH IS IDENTICAL TO H.R. 1645, THE SO-CALLED FOSTERING INNOVATION ACT, THIS PROVISION WOULD ELIMINATE THE INDEPENDENT AUDIT OF A COMPANY'S FINANCIAL REPORTING CONTROLS FOR UP TO 10 YEARS FOR NEWLY PUBLIC COMPANIES, PROVIDED THAT THEY HAVE $50 MILLION OR LESS IN GROSS REVENUES AND LESS THAN $700 MILLION IN OUTSTANDING SHARES. PASSED IN THE WAKE OF THE ENRON AND WORLDCOM ACCOUNTING SCANDALS, THE WORLD -- THE REQUIREMENT THAT PUBLIC COMPANIES CONDUCT AN INDEPENDENT AUDIT OF FINANCIAL CONTROLS IS ONE OF THE MANY ACCOUNTING PROVISIONS REQUIRED BY THE BIPARTISAN SARBANES-OXLEY ACT THAT DIRECTLY BENEFITS INVESTORS AND PUBLIC COMPANIES BY IMPROVING THE ACCURACY OF THEIR FINANCIAL REPORTING. IN FACT, COMPANIES THAT ARE NOT SUBJECT TO SUCH REVIEW BY AN INDEPENDENT AUDITOR ARE MORE LIKELY TO ISSUE CORRECTIONS TO THEIR FINANCIAL REPORTS. LEADING TO INVESTOR LOSSES AND HIGHER LOSSES FOR THE COMPANY. INVESTORS LIKE THESE AUDITS BECAUSE THEY IMPROVE THE VERACITY OF THE REPORTS THEY RELY ON TO MAKE INVESTMENT DECISIONS. TODAY TRULY SMALL PUBLIC COMPANIES, THOSE WITH LESS THAN $75 MILLION WORTH OF SHARES, ARE ALREADY EXEMPT FROM THE AUDIT REQUIREMENT. BUT THIS BILL WOULD EXTEND THE EXEMPTION TO LARGE COMPANIES THAT ARE NEARLY 10 TIMES THAT SIZE. THE LAW ALREADY PROVIDES NEWLY PUBLIC COMPANIES WITH AN EXEMPTION FOR FIVE YEARS, EXTENDING IT TO A DECADE WOULD HARM INVESTOR CONFIDENCE IN ALL SUCH COMPANIES. HURTING THE VERY COMPANIES THE BILL'S SUPPORTERS PURPORT TO HELP. TITLE 2 OF THIS BILL IS THE SAME LANGUAGE AS H.R. 3948, THE PROTECTION OF SOURCE CODE ACT. THIS BILL BANS THE S.E.C. FROM INSPECTING SOURCE CODE USED BY REGULATED ENTITIES TO ENGAGE IN ALGORITHMS OR COMPUTER-DRIVEN TRADING AND OTHER ACTIVITIES THAT IMPACT THE SECURITIES MARKETS AND INVESTORS WITHOUT FIRST OBTAINING A SUBPOENA. THIS PROVISION WOULD SEVERELY HAMPER THE ABILITY OF THE S.E.C. TO EFFECTIVELY EXAMINE PERSONS LIKE HIGH FREQUENCY TRADERS AND TO INVESTIGATE MARKET DISRUPTIONS. THE RECENT STOCK MARKET VOLATILITY, WHICH HAS SEEN ALL OF THE MAJOR STOCKS DECLINE BY MORE THAN 10% IN LESS THAN TWO WEEKS, HAS BEEN EXACERBATED BY HIGH FREQUENCY TRADERS USING COMPLEX COMPUTER ALGE RILINGT AMS TO DETERMINE -- ALGORITHMS TO DETERMINE WHEN TO BUY AND SELL MILLIONS OF TRADES A SECOND. BY MAKING IT HARDER FOR THE CAPITAL MARKETS' COP TO DETECT AND STOP BAD ACTORS AND REIN IN FRAUDULENT TRADING SCHEMES. THIS PROVISION WILL INEVITABLY HARM EVERYDAY AMERICANS AND RETIREES WHO RELY ON FAIR CAPITAL MARKETS TO INVEST THEIR HARD-EARNED SAVINGS. TO MAKE MATTERS WORSE, REPUBLICANS ADDED A PROVISION TO PAY FOR THE COST OF THE BILL BY TAKING $2 MILLION FROM THE SECURITIES AND EXCHANGE COMMISSION'S RESERVE FUND. AS A RESULT, OUR FINANCIAL WATCHDOG WILL HAVE LESS RESOURCES TO SUPPORT ITS CAPACITY, TO OVERSEE THE MARKETS THROUGH INVESTMENTS IN I.T., AND TO RESPOND TO UNFORESEEN MARKET EVENTS LIKE THE FLASH CRASH. IN SHORT, THIS BILL ASKS TAXPAYERS TO PAY FOR THE COSTS OF DIMINISHED CAPITAL MARKET OVERSIGHT BY TAKING AWAY S.E.C.'S FUNDING, TO RESPOND TO EMERGENCY MARKET SITUATIONS THAT THREATEN MARKET STABILITY. THIS PROVISION DOUBLES DOWN ON THE IRRESPONSIBLE POLICYMAKING WE OFTEN SEE BY THE OPPOSITE SIDE OF THE AISLE. THE BILL BEFORE US TODAY WOULD ALSO MAKE TWO LESS SIGNIFICANT CHANGES, WHICH I BELIEVE THE REPUBLICANS INCLUDED TO GARNER ADDITIONAL SUPPORT FOR THE LEGISLATION. NEVERTHELESS, EVEN WITH THESE PROVISIONS, THE PACKAGE SHOULD BE SOUNDLY REJECTED. TITLE 1, WHICH INCLUDES THE VERSION OF H.R. 3978, TRID IMPROVEMENT ACT OF 2017, THE COMMITTEE PREVIOUSLY CONSIDERED, WOULD AMEND A MORTGAGE DISCLOSURE KNOWN AS TRID OR THE KNOW BEFORE YOU OWE DISCLOSURE. THAT INFORMS HOMEBUYERS OF THE TERMS AND CONDITIONS OF THEIR MORTGAGE. RESPONDING TO THE CONCERNS OF SOME IN THE REAL ESTATE INDUSTRY, THIS PROVISION WOULD AMEND THE DISCLOSURE TO ACCOUNT FOR THE DISCOUNTS PAID TO BORROWERS IN STATES WHERE SIMULTANEOUS LENDER AND BUYER TITLE INSURANCE IS ISSUED. HOWEVER, THE REVISED FORM DOES NOTHING FOR BORROWERS IN STATES THAT DO NOT PROVIDE SUCH SPECIAL RATES TO HOMEBUYERS. AND THE PROVISION ELIMINATES THE CONSUMER BUREAU'S ABILITY TO FIX THIS ASPECT OF THE FORM, EVEN IF A PROBLEM ARISES IN THE FUTURE. THE FINAL PROVISION, TITLE 5, IS IDENTICAL TO H.R. 2948. THE SAFE TRADITIONAL LICENSING ACT. THIS TITLE WOULD EASE THE ABILITY OF INDIVIDUALS EMPLOYED AS MORTGAGE ORIGINATORS TO CHANGE EMPLOYERS BY CREATING A TEMPORARY 120-DAY LICENSING REGIME SO THAT THEY CAN CONTINUE TO WORK AT THEIR NEW EMPLOYER. THIS BILL WOULD EFFECTIVELY TREAT MORTGAGE ORIGINATORS WHO WORK FOR STATE REGISTERED FIRMS THE SAME AS FEDERALLY REGISTERED FIRMS. AND WAS UNANIMOUSLY SUPPORTED BY COMMITTEE DEMOCRATS. UNFORTUNATELY BECAUSE THIS LEGISLATION HAS BEEN PACKAGED WITH OTHER DEEPLY PROBLEMATIC AND DESTRUCTIVE BILLS, SENSIBLE RELIEF TO THESE INDIVIDUALS THAT HAS BROAD BIPARTISAN SUPPORT IS BEING HELD HOSTAGE BY REPUBLICANS' EFFORTS TO ROLLBACK AS MANY SAFEGUARDS AS THEY CAN THIS YEAR -- ROLL BACK AS MANY SAFEGUARDS AS THEY CAN THIS YEAR. MADAM SPEAKER, H.R. 3978 AS AMENDED THREATENS MANY OF THE IMPORTANT REFORMS DEMOCRATS MADE TO RESTORE INVESTOR CONFIDENCE TO OUR CAPITAL MARKETS AFTER THE WORST FINANCIAL CRISIS IN GENERATIONS. AS THE STOCK MARKETS CONTINUE TO WOBBLE, -- WOBBLE OMINOUSLY IN WAYS THAT THREATEN THE SAVINGS OF HARDWORKING AMERICANS, CONGRESS SHOULD BE STRENGTHENING OVERSIGHT OF THE FINANCIAL SYSTEM, NOT WEAKENING IT. NOT SURPRISINGLY H.R. 3978 IS STRONGLY OPPOSED BY THE NORTH AMERICAN ASSOCIATION OF SECURITIES ADMINISTRATORS WHO SERVE ON THE FRONT LINE COMBATING SECURITIES FRAUD ON THE STATE LEVEL. AND BY NONPARTISAN ORGANIZATIONS WHO SPEAK ON BEHALF OF OUR NATION'S CONSUMERS, INVESTORS AND UNIONS, INCLUDING CONSUMER FEDERATION OF AMERICA, CENTER FOR AMERICAN PROGRESS, AMERICANS OF FINANCIAL REFORM, AFL-CIO, AND PUBLIC CITIZEN. AND SO DO I. I URGE EVERYONE TO REJECT THIS HARMFUL PACKAGE OF BILLS AND VOTE NO ON H.R. 3978. I RESERVE THE BALANCE OF MY TIME. . THARNING YOU VERY MUCH. I RESERVE. THE GENTLELADY RESERVES.

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                          • 03:30:45 PM

                            MR. HENSARLING

                            I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM ARKANSAS, THE…

                            I'M PLEASED TO YIELD FIVE MINUTES TO THE GENTLEMAN FROM ARKANSAS, THE MAJORITY WHIP OF THE COMMITTEE AND THE SPONSOR OF THE LEGISLATION, MR. HILL.

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                          • 03:30:55 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 03:30:57 PM

                            MR. HILL

                            I THANK THE SPEAKER. AND OF COURSE, I THANK THE DISTINGUISHED CHAIRMAN,…

                            I THANK THE SPEAKER. AND OF COURSE, I THANK THE DISTINGUISHED CHAIRMAN, MR. HENSARLING. I RISE IN SUPPORT OF MY BILL, H.R. 7978, THE TRID IMPROVEMENT ACT, THIS AFTERNOON. AND I WANT TO HAVE MY COMMENTS FOCUS ON THE ACTUAL IMPROVEMENTS TO THE TRUTH IN LENDING AND RESPA FORM, WHICH IS NOW REFERRED AS TRID. BACK IN 2010 WHEN DODD-FRANK WAS BEING CONSIDERED, ONE OF THE GOALS THAT THEN WHITE HOUSE STAFFER ELIZABETH WARREN AND NOW SENATOR WARREN HAS, WELL, WE WILL MAKE A WIN FOR BOTH BANKS AND CONSUMERS AND WE WILL MAKE FORMS SIMPLER AND DISCLOSURE BETTER AND AMERICA'S EXHIBIT A TODAY IS THE FORM. IT WAS TRUTH IN LENDING AND MAKE SURE THE INTEREST RATE YOU ARE GOING TO PAY ON YOUR MORTGAGE IS THE REAL ESTATE SETTLEMENT ACT SAID WHATEVER YOU WERE PAYING EXTRAS, TITLE INSURANCE, WAS DISCLOSED ACCURATELY. WELL, WE NOW FLASH FORWARD A NUMBER OF YEARS, BACK IN 2013, THE CFPB FINALIZED THE TRID RULE. KNOW BEFORE YOU OWE. IT SHOULD HAVE BEEN CALLED KNOW BEFORE YOU ARE CONFUSED. THIS RULE FINALIZED IN 2013, STILL THE SUBJECT TO DELAY DUE TO ERRORS THAT CFPB MADE AND GOT PUT IN PLACE IN 2015. $1.5 BILLION FOR COMPLIANCE COSTS FOR BANKS TO MERGE THIS FORM. AND THE CFPB OFFERED NO CONCRETE GUIDANCE AND THIS VOTED TO DIRECT THE CFPB TO IMPROVE THIS RULE THAT WAS NOT A SUCCESS STORY. IN FACT, IN APRIL OF 2016, THE CFPB DECIDE TODD REOPEN THE RULEMAKING AND TRY TO FIND SOME CLARIFYING AND AMENDING PROCEDURES THAT WOULD MAKE IT MORE CLEAR. WELL, AS YOU CAN HEAR, IT'S A MASSIVE COMPLEX RULE THAT'S EXPENSIVE. AND THE AMERICAN BANKERS ASSOCIATION SAID IF THERE WAS ONE THING TO FIX IN CONSUMER COMPLIANCE, IT WOULD BE THE TRID. IT WOULDN'T BE THE QUALIFIED MORTGAGE DEFINITION. IT WOULDN'T BE ALL THE CAPITAL RULES EMBEDDED IN DODD-FRANK. IT WOULD BE THIS RULE. AND WHEN I HAVE BEEN AT HOME IN MY DISTRICT, I HAVE HEARD ABOUT IT COUNTLESS TIMES FROM MORTGAGE AND COMMUNITY BANKERS. SO WE'RE STILL NOT THERE YET, WHICH IS WHY WE ARE HERE TODAY, MR. SPEAKER. AND THAT IS, THIS BILL DOES ONE SIMPLE THING, WHICH SAYS, IF YOU BUY A TITLE INSURANCE POLICY AND THE MAJORITY OF STATES, THE CFPB 'S RULE IS NOT ACCURATE. AND YOU CAN SEE HERE THAT THE RULE FOR ARKANSAS ON A $200,000 SALES PRICE HOUSE SAYS THAT THE CONSUMER SHOULD PAY $382.50 CENTS AFTER THIS COMPLEX FORMULA WHEN IN REALITY, THEY ARE PLAYING $525 OR $35. IN THESE STATES, THE CFPB IS NOT ALLOWING FOR THE CALCULATION OF A DISCOUNTED RATE KNOWN AS A SIME YOU WILL KAINE YOUSE ISSUE WHICH THEY PROVIDE TO CONSUMERS WHEN THEY PURCHASE BOTH THE LENDER'S' AND OWNER'S TITLE POLICY AT THE SAME TIME. SO, MR. SPEAKER, THIS BILL OFFERS CLARITY AND TAKES A COMPLEX RULE AND MAKES THIS PART OF IT SIMPLER. WHERE OUR CONSUMERS WILL ACTUALLY SEE ON THE CLOSING STATEMENT WHAT THE COST OF THE TITLE INSURANCE IS AND IT WILL BE TRANSPARENT. THERE ARE MANY OTHER CHALLENGES WITH THIS RULE. AND WE'VE TALKED ABOUT THEM IN OUR COMMITTEE. AND TODAY, WE ARE ONLY DEBATING AND DISCUSSING ONE SMALL ONE. BUT I URGE MY COLLEAGUES ON BOTH SIDES OF THE AISLE AND THIS BILL CAME OUT OF OUR COMMITTEE BIPARTISAN. THIS IS A BILL THAT MEMBERS OF CONGRESS HAVE HEARD FROM ACROSS THIS COUNTRY IN ALL 50 STATES FROM COMMUNITY BANKERS, MORTGAGE BANKERS OF ALL SIZES WHO ARE TRYING TO PROVIDE AN ACCURATE FAST CLOSING FOR THE MOST IMPORTANT THING WE DO AS A FAMILY AND THAT'S TO DECIDE TO BUY A HOME. I THANK THE CHAIRMAN OF THE FULL COMMITTEE FOR THE TIME. I URGE MY COLLEAGUES TO SUPPORT THIS FULL PACKAGE OF BIPARTISAN BILLS THROUGH REGULAR ORDER, THROUGH OUR COMMITTEE AND ARE PRESENTED HERE TO IMPROVE OUR ECONOMY, IMPROVE THE BALANCE IN OUR REGULATORY SYSTEM AND HELP MAKE CREDIT MORE ACCESSIBLE FOR CONSUMERS AT BETTER PRICES AND I YIELD BACK.

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                          • 03:36:08 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                          • 03:36:14 PM

                            MS. WATERS

                            I CONTINUE TO RESERVE.

                          • 03:36:16 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS.

                          • 03:36:20 PM

                            MR. HENSARLING

                            I YIELD FOUR MINUTES TO THE GENTLEMAN FROM WISCONSIN, MR. DUFFY, CHAIRMAN…

                            I YIELD FOUR MINUTES TO THE GENTLEMAN FROM WISCONSIN, MR. DUFFY, CHAIRMAN OF THE SUBCOMMITTEE ON HOUSING AND INSURANCE AND SPONSOR OF TITLE 2 OF THE PROTECTION OF SOURCE CODE IN THIS BILL.

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                          • 03:36:32 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM WISCONSIN IS RECOGNIZED.

                          • 03:36:36 PM

                            MR. DUFFY

                            I THANK THE CHAIRMAN FOR HIS WORK ON THIS LEGISLATION AND MR. HILL FOR…

                            I THANK THE CHAIRMAN FOR HIS WORK ON THIS LEGISLATION AND MR. HILL FOR WHICH MY PROVISION IS MADE PART OF THE LARGER PACKAGE. I ALSO WANT TO THANK THE GENTLEMAN FROM GEORGIA AND ILLINOIS, MY GOOD FRIENDS ACROSS THE AISLE, REPRESENTATIVES SCOTT AND FOSTER, WHO ARE PROTECTION OF THIS ACT. IT IS A BIPARTISAN BILL. THE RECENT CYBER INCIDENTS AT THE N.S.A. SHOW THAT ALL ORGANIZATIONS ARE VULNERABLE FOR SECURITY RISKS AND THIS IS A REMINDER OF THE RISKS WE FACE IN THIS DIGITAL AGE. IT IS IMPORTANT FOR THE S.E.C. TO RETHINK WHAT THEY COLLECT AND WHAT THEY COLLECT AND WHAT IS STORED AND WHAT THEY DO WITH THIS INFORMATION IN THE LONG RUN. THIS BILL IS A BIPARTISAN BILL INTENDED TO REDUCE SOME OF THE CYBERSECURITY RISKS TO OUR FINANCIAL MARKETS WHEN IT GATHERS HIGHLY SENSITIVE TRADING AND SOURCE CODE INFORMATION AS PART OF THEIR OVERSIGHT DUTIES. THIS ESTABLISHES A PROCESS FOR THE S.E.C. WITH RESPECT TO REQUESTING SOURCE CODE AND OTHER INTELLECTUAL PROPERTY THAT FORMS THE BASIS OF SOURCE CODE. IT DOES NOT PRECLUDE THE S.E.C. FROM REQUESTING DATA THAT IT DETERMINES IT NEEDS FOR MARKET OVERSIGHT. IT MERELY PUTS THE PROCESS IN PLACE HOW THE S.E.C. SEEKS ACCESS TO CERTAIN INTELLECTUAL PROPERTY. HAVING A PROCESS IN PLACE FOR HOW THE S.E.C. REQUESTS SOURCE CODE IN SIMILAR INTELLECTUAL PROPERTY WILL BETTER PROTECT REGISTRANTS AND CLIENTS AND INVESTORS BY CYBER THEFT OF THE MOST VULNERABLE AND INTELLECTUAL PROPERTY. SUCH DISCLOSURE COULD DESTROY THE AMERICAN BUSINESS THAT OWNS THE INTELLECTUAL PROPERTY. WORSE, IT COULD UNDERMINE INVESTOR CONFIDENCE AND CREATE SIGNIFICANT VOLATILITY IN OUR FINANCIAL MARKETS. IN GENERAL, THE S.E.C. SHOULD NOT BE REQUESTING SOURCE CODE OR INTELLECTUAL PROPERTY THAT FORMS THE BASIS OF SOURCE CODE. SHOULD BE COLLECTING THAT ON A BASIS. IT IS UNNECESSARY FOR THEM TO PERFORM THEIR MARKET OVERSIGHT FUNCTION. AND IT COULD CREATE A VERY INVITING TREASURE TROVE. THIS BILL WILL ENSURE THAT THE S.E.C. THEY WILL GATHER SOURCE CODE AND SUBPOENA PROCESS AND UNDER THIS BILL THE S.E.C. IN CONDUCTING AN EXAM MAY CONTINUE TO ASK SOMEONE ABOUT A TRADING SYSTEM OR STRATEGIES. LET'S BREAK THIS DOWN A LITTLE BIT. WE HAVE SOURCE CODE THAT IS HIGHLY SENSITIVE, IT'S INTELLECTUAL PROPERTY. IF YOU ARE THE S.E.C., YOU CAN GO ON SITE AND LOOK AT THE SOURCE CODE. AND I'M FINE WITH THAT. IF YOU ARE GOING TO STORE IT AND HAVE A WHOLE BUNCH OF INTELLECTUAL PROPERTY FOR AMERICAN BUSINESSES STORED AT THE S.E.C., THIS IS ONE-STOP SHOPPING FOR HACKERS. DO IT ONCE. GET INTO THE S.E.C. AND YOU GET IT ALL. YOU WANT TO TALK ABOUT VOLATILITY. WAIT AND SEE IF THERE IS A HACK AND GET ALL THIS INFORMATION AND ALL THIS SOURCE CODE. THAT'S A RISK WE DON'T WANT TO HAVE. WE WANT DUE PROCESS. IF YOU WANT TO COME IN AND TAKE THE SOURCE CODE, GET A SUBPOENA. THE MOST SENSITIVE DATA AND SENSITIVE INFORMATION, GET A SUBPOENA, YOU CAN TAKE IT. THOSE ARE BASIC PROTECTIONS THAT WE OFFER IN AMERICA THAT WE SHOULD EMPLOY AT THE S.E.C. WHEN THEY WANT THIS INTELLECTUAL PROPERTY THAT IS OF GREAT VALUE TO THESE FIRMS. MY BILL, CONTRARY TO THE RANKING MEMBER'S POINT, MADAM SPEAKER, DOESN'T OFFER EXEMPTIONS TO EXAMS. EXAMS WILL STILL HAPPEN AND STILL ILLEGAL TO MANIPULATE MARKETS. THOSE THINGS HAVEN'T CHANGED. THIS IS ABOUT DUE PROCESS --

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                          • 03:40:53 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN HAS 30 MORE SECONDS.

                          • 03:40:57 PM

                            MR. DUFFY

                            WE NEED TRUTHFUL AND HONEST INFORMATION ON THE FLOOR. THIS DOES NOT…

                            WE NEED TRUTHFUL AND HONEST INFORMATION ON THE FLOOR. THIS DOES NOT PROHIBIT EXAMS. THIS DOESN'T MAKE LEGAL MANIPULATION OF MARKETS -- IT'S STILL ILLEGAL. WE HAVE SENSITIVE SOURCE CODE AND IF YOU WANT TO TAKE IT TO THE S.E.C., YOU GET A SUBPOENA. FRANKLY, WE THINK THERE ARE PROBLEMS. N.S.A. HAS BEEN HACKED. IF YOU COMPILE THIS INFORMATION, THE RISK THIS POSES TO OUR MARKETS I THINK THIS IS UNACCEPTABLE AND THIS IS A GOOD BILL AND WHY IT IS BIPARTISAN AND I ENCOURAGE ALL MEMBERS TO TAKE A STEP FORWARD FOR DUE PROCESS AND I YIELD BACK.

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                          • 03:41:36 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TECH AS RESERVES. THE GENTLELADY FROM CALIFORNIA IS…

                            THE GENTLEMAN FROM TECH AS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                          • 03:41:42 PM

                            MS. WATERS

                            THANK YOU VERY MUCH. GIVEN THE EXTREME VOLATILITY IN THE STOCK MARKETS…

                            THANK YOU VERY MUCH. GIVEN THE EXTREME VOLATILITY IN THE STOCK MARKETS OVER THE PAST FEW WEEKS, I'M PARTICULARLY TROUBLED BY TITLE 2, WHICH WOULD MAKE IT EASIER FOR TRADERS TO EVADE OVERSIGHT OF THEIR POTENTIALLY DISRUPTIVE AUTOMATED TRADING. THIS IS WIDELY OPPOSED BY NONPARTISAN CONSUMER AND INVESTOR GROUPS WHO RECOGNIZE THE IMPACT AUTOMATIC TRADING HAS ON OUR MARKETS. LET ME READ YOU EXCERPTS FROM A FEW LETTERS THAT HIGHLIGHT THE DANGERS OF TITLE 2. AMERICANS FOR FINANCIAL REFORM, A COALITION OF MORE THAN 200 CONSUMER, CIVIL RIGHTS INVESTOR RETIREE COMMUNITIES, LABOR, FAITH-BASED AND BUSINESS GROUPS WROTE, QUOTE, TITLE 2 WOULD PREVENT REGULATORS FROM INSPECTING NOT ONLY THE RAW SOURCE CODE USED IN AUTOMATIC TRADING BUT ALSO ANY INTELLECTUAL PROPERTY THAT FORMS THE BASIS FOR THE DESIGN OF SOURCE CODE. EXAMINATION OF SUCH INTELLECTUAL PROPERTY WOULD ONLY BE POSSIBLE IN AN ENFORCEMENT CONTEXT PURSUANT TO A SUBPOENA. THIS IMPLIES THAT THE S.E.C. WOULD HAVE TO WAIT UNTIL THE DAMAGE HAS BEEN DONE THROUGH A FLASH CRASH OR SIMILAR MARKET DISRUPTION BEFORE TAKING ANY ACTION WHICH WOULD HAVE TO BE RETROSPECTIVE. IN LIGHT OF THE SIGNIFICANCE OF AUTOMATED TRADING TO MODERN MARKETS AND THE POTENTIAL RISK OF HIGH FREQUENCY TRADING, IT MAKES NO SENSE TO TIE THE HANDS OF REGULATORS IN EXAMINING DETAILED TRADING STRATEGIES AND METHODS OF HIGH FREQUENCY TRADERS. CENTER FOR AMERICAN PROGRESS, QUAGSONNED, THAT IN AN ERA OF FLASH CRASH PRONE MARKETS, THE S.E.C. MAY HAVE A WIDE RANGE OF REGULATORY REASONS FOR WHY IT MAY NEED TO EXAMINE SOURCE CODES INCLUDING APROVALS OF NEW TRADING PRODUCTS OR THE SUPERVISION OF TRADING VENUES. THE S.E.C. SHOULD ONLY EXERCISE THAT AUTHORITY CAREFULLY AND UNDER THE STRICTEST PROTECTIONS FOR CONFIDENTIAL INFORMATION BUT BLOCKED BY LAW, DANGEROUSLY LIMITS THE S.E.C.'S ABILITY TO ADDRESS THE SIGNIFICANT TECHNOLOGY FACING THE FINANCIAL MARKETS. THE CONSUMER FEDERATION OF AMERICA, AN ASSOCIATION OF NEARLY 300 CONSUMER ADVOCACY GROUPS SIMPLY OPPOSE TITLE 2, BECAUSE IT WOULD QUOTE WEAKEN S.E.C. OVERSIGHT OF TRADING, HAMSTRING THE AGENCY FROM RESPONDING QUICKLY TO FLASH CRASHES OR OTHER MARKET BREAKDOWNS, END QUOTE. C.F.A., QUOTE, AT A TIME WHEN TRADING IS TAKING ON INCREASED IMPORTANCE IN OUR CAPITAL MARKETS, THIS BILL WOULD MAKE IT MORE DIFFICULT FOR S.E.C. TO PROPERLY OVERSEE SUCH TRADING. THE BILL WOULD REQUIRE THE S.E.C. TO ISSUE A SUBPOENA BEFORE IT COMPELS A PERSON TO PRODUCE OR FURNISH TO THE S.E.C. TRADING SOURCE CODE OR SIMILAR INTELLECTUAL PROPERTY. THIS WOULD UNDERMINE THE S.E.C.'S EXAMINATION AUTHORITY BY CREATING A GAPING HOLE IN ITS ABILITY TO GAIN ACCESS TO FIRM RECORDS RELEVANT TO THE EXAMINATION. WOULD ALSO HAVE A DEVASTATING EFFECT ON THE AGENCY'S ABILITY TO RESPOND QUICKLY IN THE EVENT OF ANOTHER FLASH CRASH OR SUCH EVENTS IN THE FUTURE IN ORDER TO OVERSEE THE MARKETS. THE S.E.C. NEEDS TO BE ABLE TO RECONSTRUCT ORDER ENTRY AND TRADING AND FOR TRADERS. END QUOTE. . QUOTE, MARKET VOLATILITY CAUSED NOT BY REAL EVENTS SUCH AS OUTBREAK OF WAR, BUT BY COMPUTERS, INCLUDING COMPUTER GLITCHES, THREATENS TO ERASE SAVINGS TO SOME INNOCENT INVESTORS AND ERODES JANINE VESTER CONFIDENCE -- ERODES GENERAL INVESTOR CONFIDENCE. THIS ATTESTS FOR THE NEED OF OWE BUST AND URGENT -- ROBUST AND URGENT SUPERVISORY INSPECTION. IN 2010 WHERE MARKETS COLLAPSED REVEALED THAT SUCH ROBUST AND URGENT SUPERVISION HAS BEEN LACKING. THE S.E.C. REQUIRED NEARLY A HALF-YEAR TO INVESTIGATE -- A HALF YEAR TO INVESTIGATE THIS INCIDENT BEFORE IDENTIFYING A FLAWED ALGORITHM AT ONE MAJOR TRADER. THE S.E.C. OVERSIGHT SHOULD BE STREAMLINED, NOT HAMPERED. TRADING INSTRUCTIONS AND RECORDS OF HUMAN TRADERS ARE ALREADY SUBJECT TO INSPECTION, SO IT SHOULD BE NO DIFFERENT FROM THOSE INSTRUCTIONS AND RECORDS GENERATED BY MACHINES. HIDING SOURCE CODE FOR REGULATORY SCRUTINY WILL LEAVE THOSE RESPONSIBLE FOR MISTAKES, AS WELL AS THOSE ATTEMPTING TO MANIPULATE MARKETS, UNACCOUNTABLE. END QUOTE. THESE LETTERS DEMONSTRATE THE WIDE OPPOSITION TO TITLE 2 BY GROUPS THAT TRULY UNDERSTAND THAT ROBUST OVERSIGHT OF ALGORITHMIC TRADING IS NECESSARY FOR THE HEALTH OF OUR MAKERS. I ASK UNANIMOUS CONSENT TO ENTER LETTERS FROM THESE GROUPS INTO THE RECORD. I RESERVE THE BALANCE OF MY TIME.

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                          • 03:47:25 PM

                            THE SPEAKER PRO TEMPORE

                            WITHOUT OBJECTION, THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS IS…

                            WITHOUT OBJECTION, THE GENTLELADY RESERVES. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                          • 03:47:30 PM

                            MR. HENSARLING

                            MADAM SPEAKER, I YIELD MYSELF 30 SECONDS TO SAY THE WIDESPREAD OPPOSITION…

                            MADAM SPEAKER, I YIELD MYSELF 30 SECONDS TO SAY THE WIDESPREAD OPPOSITION TO THE BILL ALLUDED TO BY THE RANKING MEMBER DOESN'T INCLUDE ROUGHLY HALF THE DEMOCRATS ON THE COMMITTEE. INCLUDING MR. FOSTER OF ILLINOIS , WHO IS QUOTED IN MARKUP AS SAYING, QUOTE, AS SOMEONE WHO CAN CODE IN SEVEN LANGUAGES, I UNDERSTAND THAT SOURCE CODE IS EQUALTATIVELY DIFFERENT THAN OTHER DOCUMENTS THAT A FIRM MIGHT HAVE AND THAT OUR REGULATORS SHOULD HAVE LEGITIMATE ACCESS. TO THEY ARE TRULY THE CROWN JEWELS OF AN ELECTRONIC TRADING FIRM AND THERE ARE OBVIOUS DANGERS THAT HAVE BEEN EXPOSED IN TRANSFERRING THINGS REALLY NOT JUST TO THE GOVERNMENT, TO ANY ENTITY. THE FIRST LINE OF DEFENSE IN CYBERSECURITY IS TO KEEP THE DATA AS CLOSELY HELD AS REASONABLE AND STILL BE ABLE TO DO YOUR JOB. I RESERVE THE BALANCE OF MY TIME.

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                          • 03:48:23 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

                          • 03:48:26 PM

                            MS. WATERS

                            I CONTINUE TO RESERVE THE BALANCE OF MY TIME.

                          • 03:48:29 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEWOMAN RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS.

                          • 03:48:33 PM

                            MR. HENSARLING

                            I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM ILLINOIS, MR.…

                            I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM ILLINOIS, MR. HULTGREN, THE VICE CHAIRMAN OF THE SUBCOMMITTEE ON CAPITAL MARKETS.

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                          • 03:48:38 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM ILLINOIS IS RECOGNIZED FOR TWO MINUTES.

                          • 03:48:41 PM

                            MR. HULTGREN

                            THANK YOU, MADAM SPEAKER. THANK YOU, CHAIRMAN HENSARLING. WE'RE SO…

                            THANK YOU, MADAM SPEAKER. THANK YOU, CHAIRMAN HENSARLING. WE'RE SO GRATEFUL FOR YOUR WORK ON THIS PACKAGE OF BILLS THAT ARE SO IMPORTANT. I RISE TODAY TO SPEAK IN SUPPORT OF H.R. 3978, THE TRID IMPROVEMENT ACT. AND ALL THE ADDITIONAL MEASURES THAT HAVE BEEN INCLUDED IN THE RULES COMMITTEE PRINT. I'M A CO-SPONSOR OF FOUR OF THE FIVE BILLS. THE TRID IMPROVEMENT ACT MAKE IMPORTANT IMPROVEMENTS TO THE TRID DISCLOSURE FORMS SO HOME PURCHASERS HAVE THE ACCURATE REPRESENTATION OF TITLE COSTS. THIS IS A COMMONSENSE TECHNICAL FIX TO A 20-YEAR-OLD STATUTE THAT DIDN'T FORESEE AN INCREASE IN THE NUMBER OF EXCHANGES IN TODAY'S COMPETITIVE MARKET STRUCTURE. CURRENTLY EXCHANGES NOT NAMED IN THE LAW MUST HAVE SUBSTANTIALLY SIMILAR LISTING STANDARDS AS THOSE THAT ARE SPECIFICALLY NAMED. THIS MEANS THE CHICAGO STOCK EXCHANGE, CBOE, AND OTHERS THAT HAVE REGISTERED WITH THE S.E.C. SINCE 1996 CANNOT BE FIRST MOVERS IN ADOPTING INNOVATIVE LISTING STANDARDS. THE CHICAGO STOCK EXCHANGE HAS TOLD ME, AND I QUOTE, THIS CHANGE WOULD REMOVE THIS CURRENT IMPEDIMENT TO COMPANIES LISTING THEIR SECURITIES ON THE C.H.X. AND WOULD HELP IN THE EXCHANGE'S EFFORT TO DEVELOP A ROBUST PRIMARY LISTING MARKET HERE IN ILLINOIS. END QUOTE. I'M ALSO VERY SUPPORTIVE OF CHAIRMAN DUFFY'S LEGISLATION, THE PROTECTION OF SOURCE CODE ACT. AND I'M AN ORIGINAL CO-SPONSOR OF THAT. BECAUSE I RECOGNIZE THAT THE ENTIRE VALUE OF SOME COMPANY -- COMPANIES ARE EMBODIED IN THEIR SOURCE CODE. WE NEED TO HAVE STRONG CHECKS IN PLACE BEFORE OUR GOVERNMENT CAN DEMAND SUCH INFORMATION. THE CHAIRMAN OF THE CFTC CRITICIZED IT. HE SAID, THE SUBPOENA PROCESS PROVIDES PROPERTY OWNERS WITH DUE PROCESS OF LAW BEFORE THE GOVERNMENT CAN SEIZE THEIR PROPERTY. IT PROTECTS OWNERS OF PROPERTY, NOT THE GOVERNMENT THAT ALREADY HAS ABUNDANT POWER, END QUOTE. FINALLY, I WANT TO MENTION MY SUPPORT FOR THE FOSTERING INNOVATION ACT SPONSORED BY MS. SINEMA AND MR. HOLLINGSWORTH. I'M A CO-SPONSOR OF THOSE MEASURES AS WELL. I URGE ALL OF MY COLLEAGUES TO VOTE IN SUPPORT OF THESE VERY BIPARTISAN PACKAGE OF BILLS AND I YIELD BACK THE BALANCE OF MY TIME.

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                          • 03:50:57 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                          • 03:51:03 PM

                            MS. WATERS

                            I CONTINUE TO RESERVE MY TIME.

                          • 03:51:04 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                          • 03:51:08 PM

                            MR. HENSARLING

                            MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                            MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM TEXAS, MR. WILLIAMS, VICE CHAIRMAN OF OUR SUBCOMMITTEE ON MONETARY POLICY AND TRADE.

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                          • 03:51:15 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED FOR TWO MINUTES.

                          • 03:51:18 PM

                            MR. WILLIAMS

                            MADAM SPEAKER, I RISE IN SUPPORT OF H.R. 3978, THE TRID IMPROVEMENT ACT.…

                            MADAM SPEAKER, I RISE IN SUPPORT OF H.R. 3978, THE TRID IMPROVEMENT ACT. INTRODUCED BY MY COLLEAGUE, MR. HILL OF ARKANSAS. AND MR. KIHUEN FROM NEVADA. THIS IMPORTANT AND OVERWHELMINGLY BIPARTISAN LEGISLATION, WHICH PASSED OUT OF THE HOUSE FINANCIAL SERVICES COMMITTEE BY A VOTE OF 53-5, IS A STRAIGHTFORWARD, COMMONSENSE SOLUTION THAT WILL HELP HARDWORKING AMERICANS BUY A NEW HOME OR REFINANCE THEIR EXISTING HOME. UNDER THE CFPB'S MISNAMED KNOW BEFORE YOU OWE TRID RULE, THOSE IN THE HOME BUYING OR REFINANCING PROCESS MAY NOT ACTUALLY KNOW EVERYTHING ABOUT THE PRICE THEY'RE GOING TO PAY BEFORE CLOSING. BECAUSE THE TRID RULE AND THE RESTRICTIONS PLACED ON THE LISTING OF DISCOUNTED TITLE LOAN INSURANCE RATES ON LOAN ESTIMATES, CONSUMERS MAY SEE ONE TITLE LOAN INSURANCE PRICE ON THEIR ESTIMATE AND ANOTHER ON THEIR CLOSING FORM. THE TRID RULE CREATES UNNECESSARY CONFUSION AND THIS BILL IS A STEP IN THE RIGHT DIRECTION TO REDUCING THE BURDENSOME AND OVERREACHING AUTHORITY OF THE CFPB. I'M PROUD TO JOIN THIS BIPARTISAN EFFORT BUT DO I WISH THAT THE CFPB HAD BEEN MORE WILLING TO WORK WITH THE CHORUS OF VOICES FROM BOTH SIDES OF THE AISLE CALLING FOR THIS CHANGE. THE HOME BUYING EXPERIENCE IS COMPLICATED ENOUGH AS IT IS. AND THE RATIONALE DISPLAYED BY THE CFPB DISCOURAGES HOME OWNERSHIP AND LEVIES UNJUST PENALTIES FOR THOSE AMERICANS STRIVING FOR THE DREAM OF HOME OWNERSHIP. I'M PROUD TO JOIN MY COLLEAGUES IN SUPPORT OF THIS MEASURE, THE TRID IMPROVEMENT ACT. IN GOD WE TRUST. I YIELD MY TIME BACK.

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                          • 03:52:43 PM

                            THE SPEAKER PRO TEMPORE

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

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

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                          • 03:52:49 PM

                            MS. WATERS

                            I CONTINUE TO RESERVE MY TIME.

                          • 03:52:50 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                          • 03:52:56 PM

                            MR. HENSARLING

                            MADAM SPEAKER, I AM PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM…

                            MADAM SPEAKER, I AM PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM MAINE, MR. POLIQUIN, A VERY HARDWORKING MEMBER OF THE FINANCIALS -- FINANCIAL SERVICES COMMITTEE.

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                          • 03:53:06 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 03:53:08 PM

                            MR. POLIQUIN

                            THANK YOU, MADAM SPEAKER, VERY MUCH. I THANK YOU VERY MUCH, MR. CHAIRMAN,…

                            THANK YOU, MADAM SPEAKER, VERY MUCH. I THANK YOU VERY MUCH, MR. CHAIRMAN, FOR MOVING THIS VERY IMPORTANT PACKAGE OF BILLS THROUGH THE HOUSE FINANCIAL SERVICES COMMITTEE, AND NOW TO THE FLOOR. MADAM SPEAKER, I WANT TO CONGRATULATE FRENCH HILL, TERRIFIC CONGRESSMAN FROM THE STATE OF ARKANSAS, FOR THE GREAT WORK HE'S DONE IN RECONSTITUTING THE TRID IMPROVEMENT ACT. THIS BILL, MADAM SPEAKER, IS DESIGNED TO HELP OUR HOMEOWNERS OR WOULD-BE HOMEOWNERS GO THROUGH THE PROCESS COMFORTABLY AND EFFICIENTLY. AND ALSO HELP OUR FINANCIAL PROFESSIONALS WHO HELPED THEM IN TURN TO SECURE RESIDENTIAL MORTGAGES. THIS BILL, AS HAS BEEN NOTED EARLIER, MADAM SPEAKER, PASSED WITH VERY STRONG BIPARTISAN SUPPORT AND ENCOURAGE EVERYBODY ON THE FLOOR, REPUBLICANS AND DEMOCRATS, TO WEIGH IN WITH A YES VOTE ON H.R. 3978. NOW, MADAM SPEAKER, MR. HILL'S BILL HAS TWO VERY IMPORTANT PIECES THAT HELP OUR FAMILIES AND ALSO HELP OUR ECONOMY GROW. FIRST, IN TITLE 1, SECTION 101, THIS BILL ALLOWS TITLE INSURANCE COMPANIES TO ACCURATELY DISCLOSE THE PREMIUMS THEY CHARGE FOR THEIR SERVICE AND ALSO THE DISCOUNTS THAT ARE AVAILABLE TO OUR HOMEBUYERS ACROSS THE COUNTRY. RIGHT NOW THE CFPB DOES NOT ALLOW SUCH DISCLOSURES, WHICH IS UNFAIR AND CONFUSING FOR OUR HOMEBUYERS. MADAM SPEAKER, SECONDLY, IN TITLE 5, SECTION 501, THIS BILL INCLUDES THE ELIMINATING BARRIERS TO JOBS FOR LOAN ORIGINATORS ACT, OF WHICH I AM PROUDLY A CO-SPONSOR. THIS BILL, MADAM SPEAKER, ALLOWS MORTGAGE LOAN OFFICERS AT A BANK TO MOVE TO DO THE SAME WORK AT A NONBANK FINANCIAL INSTITUTION, WITHOUT SOMETIMES WAITING WEEKS OR MONTHS FOR REDUNDANT AND UNNECESSARY RELICENSING. THAT'S JUST NOT FAIR, MADAM SPEAKER. TO THE FOLKS WHO ARE TRYING TO HELP OUR FAMILIES SECURE MORTGAGES SO THEY CAN MOVE INTO A NEW PLACE TO WORK. SO, I ENCOURAGE EVERYBODY ON BOTH SIDES OF THE AISLE TO SUPPORT THIS EXCELLENT BILL. IT'S BIPARTISAN. AND AGAIN, I CONGRATULATE MR. FRENCH HILL FROM ARKANSAS AND I SALUTE CHAIRMAN FOR MOVING THIS SO QUICKLY THROUGH THE -- THE CHAIRMAN FOR MOVING THIS SO QUICKLY THROUGH THE PROCESS. THANK YOU VERY MUCH, MADAM SPEAKER.

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                          • 03:55:24 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                          • 03:55:29 PM

                            MS. WATERS

                            I CONTINUE TO RESERVE MY TIME.

                          • 03:55:31 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                          • 03:55:35 PM

                            MR. HENSARLING

                            MADAM SPEAKER, I NOW YIELD TWO MINUTES TO THE GENTLEMAN FROM NEW YORK, MR.…

                            MADAM SPEAKER, I NOW YIELD TWO MINUTES TO THE GENTLEMAN FROM NEW YORK, MR. ZELDIN, ANOTHER MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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                          • 03:55:43 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM NEW YORK IS RECOGNIZED FOR TWO MINUTES.

                          • 03:55:46 PM

                            MR. ZELDIN

                            THANK YOU, MADAM SPEAKER. I RISE IN STRONG SUPPORT OF THE TRID IMPROVEMENT…

                            THANK YOU, MADAM SPEAKER. I RISE IN STRONG SUPPORT OF THE TRID IMPROVEMENT ACT. BIPARTISAN LEGISLATION INTRODUCED BY MY FRIEND FROM ARKANSAS, FRENCH HILL. I'M A PROUD CO-SPONSOR OF THIS LEGISLATION, WHICH COMBINES THREE BIPARTISAN PROPOSALS THAT WILL IMPROVE THE HOME BUYING PROCESS, PROTECT INTELLECTUAL PROPERTY, AND HELP EMERGING BUSINESSES THRIVE AND CREATE JOBS. BY REFORMING CONFUSING REGULATIONS THAT MAKE IT DIFFICULT FOR PERSPECTIVE BUYERS OR BUSINESSES TO GET TITLE INSURANCE, THIS LEGISLATION WILL HELP GET MORE FAMILIES INTO HOMES AND HELP LOCAL BUSINESSES GROW. BY PROTECTING THE INTELLECTUAL PROPERTY OF INVESTORS, WE ARE IMPROVING THE ACCESS TO CAPITAL THAT IS ESSENTIAL FOR GROWTH AND JOB CREATION IN COMMUNITIES WHERE MY DISTRICT IS LOCATED AND ALL ACROSS OUR COUNTRY. LAST BUT NOT LEAST, BY REFORMING THE OUTDATED DEFINITION WHAT HAVE CONSTITUTES AN EMERGING GROWTH COMPANY, THIS LEGISLATION TAKES IMPORTANT STEPS TOWARDS FOSTERING INNOVATION AND ENSURING THAT NEW BUSINESSES ARE NOT DISCOURAGED FROM EXPANSION AND JOB CREATION. THE SUM OF THESE IMPORTANT BIPARTISAN SOLUTIONS ARE MORE INOVATION, MORE HIRING, AND A MORE VIBRANT ECONOMY. I URGE ALL OF MY COLLEAGUES TO VOTE FOR THIS IMPORTANT PIECE OF LEGISLATION. I THANK MY COLLEAGUE, CONGRESSMAN HILL, FOR HIS LEADERSHIP WITH IT. AND CHAIRMAN HENSARLING AND HIS GREAT STAFF FOR ALL OF THEIR EFFORTS TO GET THIS BILL TO THE FLOOR. AND YIELD BACK.

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                          • 03:57:09 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                          • 03:57:14 PM

                            MS. WATERS

                            I CONTINUE TO RESERVE MY TIME.

                          • 03:57:16 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS…

                            THE GENTLELADY RESERVES THE BALANCE OF HER TIME. THE GENTLEMAN FROM TEXAS IS RECOGNIZED.

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                          • 03:57:21 PM

                            MR. HENSARLING

                            MAY I INQUIRE IF THE RANKING MEMBER HAS ANY MORE SPEAKERS?

                          • 03:57:27 PM

                            MS. WATERS

                            I HAVE NO MORE SPEAKERS.

                          • 03:57:29 PM

                            MR. HENSARLING

                            IN THAT CASE, MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE…

                            IN THAT CASE, MADAM SPEAKER, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLEMAN FROM GEORGIA, MR. LOUDERMILK, ANOTHER PROUD MEMBER OF THE FINANCIAL SERVICES COMMITTEE.

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                          • 03:57:37 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM GEORGIA IS RECOGNIZED FOR TWO MINUTES.

                          • 03:57:39 PM

                            MR. LOUDERMILK

                            THANK YOU, MADAM SPEAKER. AND THANK YOU, CHAIRMAN HENSARLING, FOR YOUR…

                            THANK YOU, MADAM SPEAKER. AND THANK YOU, CHAIRMAN HENSARLING, FOR YOUR LEADERSHIP AND FOR ALLOWING ME TO COME HERE AND SPEAK IN SUPPORT OF THE TRID IMPROVEMENT ACT, AND THE OTHER BILLS THAT ARE IN THIS PACKAGE. MADAM SPEAKER, WE'VE SEEN COUNTLESS EXAMPLES OF OVERREGULAR -- OVER-REGULATION AND REGULATION -- REGULATORY MISSION CREEP BY MANY AGENCIES, ESPECIALLY THE CFPB. BUT ONE OF THE THINGS THE CFPB SHOULD BE DOING IS MAKING SURE THAT CONSUMERS HAVE THE RIGHT INFORMATION WHEN CLOSING ON A HOME UNFORTUNATELY THE CFPB'S 2015 MORTGAGE -- HOME. UNFORTUNATELY THE CFPB'S 2015 MORTGAGE DISCLOSURE ACT CAUSED MANY HOMEBUYERS NOT TO HAVE DISCLOSURE OF THEIR PREMIUMS. THE COMMONSENSE BILL PROPOSED BY MY COLLEAGUE, MR. HILL, WILL MAKE SURE THAT HOMEBUYERS KNOW EXACTLY THE COST OF THEIR TITLE INSURANCE, NOT TWO DIFFERENT PRICES FROM A LOAN ESTIMATE AND A CLOSING DOCUMENT. ALSO, I STRONGLY SUPPORT OTHER PIECES OF LEGISLATION THAT HAVE BEEN INCLUDED IN THIS PACKAGE. THE FSOC IMPROVEMENT ACT WILL MAKE REGULATION OF LARGE FINANCIAL INSTITUTIONS A MUCH SMARTER AND MORE EFFECTIVE -- INSTITUTIONS MUCH SMARTER AND MORE EFFECTIVE. INSTEAD OF JUST PUNISHING, REGULATORS SHOULD ALSO FOE ON WHAT SHOULD BE THE REAL PURPOSE -- FOCUS ON WHAT SHOULD BE THE REAL PURPOSE OF FINANCIAL REGULATIONS, WHICH ARE -- WHICH IS REDUCING RISK. MR. ROSS' BILL WILL ALSO ALLOW NONBANK FINANCIAL COMPANIES THE OPPORTUNITY TO REDUCE ANY RISKY OPPORTUNITIES BEFORE THEY ARE DESIGNATED AS SYSTEMICALLY IMPORTANT. THIS WILL HELP FINANCIAL REGULATORS TO ACHIEVE THEIR INTENDED PURPOSE, RATHER THAN SIMPLY BEING A GOTCHA GAME ON REGULATED COMPANIES. ALL OF THESE BILLS WE ARE CONSIDERING TODAY RECEIVED OVERWHELMING BIPARTISAN SUPPORT IN THE FINANCIAL SERVICES COMMITTEE AND URGE ALL OF MY COLLEAGUES TO SUPPORT THIS LEGISLATIVE PACKAGE AND I YIELD BACK.

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                          • 03:59:25 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 TEXAS RESERVES. THE GENTLELADY FROM CALIFORNIA VOIDS. -- IS RECOGNIZED.

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                          • 03:59:37 PM

                            MS. WATERS

                            MAY I INQUIRE AS TO WHETHER OR NOT THE CHAIRMAN HAS MORE SPEAKERS?

                          • 03:59:45 PM

                            MR. HENSARLING

                            MADAM SPEAKER, I WOULD TELL THE RANKING MEMBER, POTENTIALLY TWO IF THEY…

                            MADAM SPEAKER, I WOULD TELL THE RANKING MEMBER, POTENTIALLY TWO IF THEY MAKE IT. THEY'RE ON THEIR WAY FROM A HEARING. BUT THEY'RE NOT HERE NOW.

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                          • 03:59:54 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

                          • 03:59:58 PM

                            MS. WATERS

                            I HAVE NO FURTHER REQUESTS FOR TIME AND I'M PREPARED TO CLOSE.

                          • 04:00:04 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY IS PREPARED TO CLOSE. THE GENTLELADY IS RECOGNIZED.

                          • 04:00:07 PM

                            MS. WATERS

                            I YIELD MYSELF THE REMAINDER OF MY TIME. MADAM SPEAKER, IT'S BECOME PAR…

                            I YIELD MYSELF THE REMAINDER OF MY TIME. MADAM SPEAKER, IT'S BECOME PAR FOR THE COURSE FOR THE MAJORITY TO RECKLESSLY ADVANCE HARMFUL DEREGULATORY PACKAGES LIKE H.R. 3978. MY FRIENDS ON THE OTHER SIDE OF THE AISLE ARE MOVING FORWARD WITH REGULATORY ROADBLOCKS AT A FURIOUS PACE, PUSHING DANGEROUS BILLS THROUGH THE HOUSE NEARLY EVERY WEEK. IT APPEARS THAT THEY MAY HAVE ALREADY COMPLETELY FORGOTTEN THE WAY THAT LAX FINANCIAL REGULATION ALLOWED THE CRISIS IN 2008 TO OCCUR THAT. CRISIS BADLY DAMAGED THE -- OCCUR. THAT CRISIS BADLY DAMAGED THE WHOLE ECONOMY AND HARMED ALL OF OUR CONSTITUENTS. THE IMPACT WAS ENORMOUS. $13 TRILLION IN HOUSEHOLD WEALTH WAS LOST. $11 MILLION PEOPLE LOST THEIR HOMES TO FORECLOSURE. AND THE UNEMPLOYMENT RATE REACHED 10%. DEMOCRATS RESPONDED BY ENACTING WALL STREET REFORM, TO ENSURE THAT CONSUMERS, INVESTORS AND OUR ECONOMY WERE PROTECTED FROM RECKLESS ACTORS AND BAD PRACTICES. BUT NOW REPUBLICANS CANNOT WAIT TO TAKE US BACK TO THE BAD OLD DAYS. IT MAKES NO SENSE. . THE PACKAGE OF BILLS BEFORE US GUTS IMPORTANT PROTECTIONS WHEN MARKETS ARE ALREADY EXPERIENCING TURMOIL AND WOULD ALLOW HIGH FREQUENCY TRADERS TO MANIPULATE THE STOCK MARKETS UNDETECTED, ENCOURAGE REGULATORY RACE TO THE BOTTOM AT OUR NATION'S STOCK EXCHANGES, AND HARM INVESTORS BY WEAKENING EFFORTS TO DETECT ACCOUNTING FRAUD AT SMALLER PUBLIC COMPANIES THIS PACKAGE OF BILLS THREATENS IMPORTANT PROGRESS, MADE TO REDUCE RISK IN THE FINANCIAL SYSTEM AND RETURN INVESTOR CONFIDENCE IN IN RECENT WEEKS WE HAVE SEEN VOLATILE MARKETS THAT THREATEN THE SAVE OFFINGS HARDWORKING AMERICAN FAMILIES. THESE CIRCUMSTANCES SHOULD SERVE AS A LEER REMINDER THAT CONGRESS SHOULD BE STRENGTHENING OVERSIGHT OF THE FINANCIAL SYSTEM, NOT WEAKENING IT BY UNDERMINING OR REMOVING IMPORTANT PROTECTIONS. H.R. 3917 IS STRONGLY OPPOSED BY OUR STATE SECURITIES COPS AT THE FRONT LINE OF COMBATING FRAUD AND IT IS OPPOSED BY GROUPS REPRESENTING CONSUMERS, INVESTOR, AND UNIONS. FOR ALL OF THESE REASONS, I URGE MEMBERS TO OPPOSE H.R. 3978 AND YIELD BACK THE BALANCE OF MY TIME.

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                          • 04:02:35 PM

                            THE SPEAKER PRO TEMPORE

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

                          • 04:02:41 PM

                            MR. HENSARLING

                            MAY I INQUIRE HOW MUCH TIME I HAVE REMAINING, MR. SPEAKER?

                          • 04:02:45 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN HAS SEVEN MINUTES REMAINING.

                          • 04:02:52 PM

                            MR. HENSARLING

                            THERE MAY BE OTHER SPEAKERS COME, AT THE MOMENT, I YIELD MYSELF FOUR…

                            THERE MAY BE OTHER SPEAKERS COME, AT THE MOMENT, I YIELD MYSELF FOUR MINUTES, MADAM SPEAKER.

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                          • 04:02:57 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN IS RECOGNIZED.

                          • 04:02:59 PM

                            MR. HENSARLING

                            AGAIN, ALL OVER AMERICA TODAY, FORTUNATELY BECAUSE OF THE TAX CUT AND JOBS…

                            AGAIN, ALL OVER AMERICA TODAY, FORTUNATELY BECAUSE OF THE TAX CUT AND JOBS ACT, PEOPLE ARE WAKING UP TO NEW OPPORTUNITIES. THEY'RE FINALLY SEEING THEIR WAGES BEGIN TO GROW. WE'VE SEEN THE GREATEST WAGE GROWTH IN ALMOST A DECADES, MADAM SPEAKER. AGAIN, THANKS TO PRESIDENT TRUMP, THANKS TO A REPUBLICAN CONGRESS A BILL THAT WAS OPPOSED BY EVERY SINGLE DEMOCRAT. BUT AS THEY WAKE UP TO THESE NEW OPPORTUNITIES, MADAM SPEAKER, THEY ALSO NEED NEW CREDIT. SO AS THEIR INCOMES RISE, THIS IS GOOD, BUT THEY STILL NEED CREDIT IN ORDER TO BUY A HOME. IN ORDER TO PURCHASE THAT CAR. AND SOMETIMES JUST TO PUT GROCERIES ON THE TABLE. UNFORTUNATELY, OVER THE LAST EIGHT YEARS OF THE OBAMA ADMINISTRATION, WHERE WE SAW PROBABLY ONE OF THE GREATEST INCREASES IN THE COST, EXPENSE, BURDEN OF COSTLY WASHINGTON RED TAPE, WE HAVE SEEN FEWER CREDIT OPPORTUNITIES AND SO NOW, FORTUNATELY TODAY, THERE ARE MEN AND WOMEN, GOOD MEN AND WOMEN ON BOTH SIDES OF THE AISLE WHO ARE TRYING TO WORK TOGETHER TO BRING SOME RATIONALE AND REASON TO THE REGULATORY BURDEN. MANY MEMBERS ON THE OTHER SIDE OF THE AISLE DO REALIZE THAT DODD-FRANK DID NOT COME DOWN AS TABLETS FROM MOUNT SINAI. THAT IT ISN'T CHISELED INTO STONE. THAT MAYBE THERE ARE SOME IMPROVEMENTS THAT COULD BE MADE. SO TODAY WE'RE TAKING A NUMBER OF VERY BIPARTISAN BILLS TO THE HOUSE FLOOR. PROTECTING CONSUMERS' ACCESS TO CREDIT ACT, WHICH WE DEBATED EARLIER, MADAM SPEAKER, PASSED BY 42-17. THE TRADE IMPROVEMENT ACT BY MR. HILL OF ARKANSAS PASSED IN OUR COMMITTEE 5 -5. 90%. ALMOST ALL THE DEMOCRATS. BUT THE RANKING MEMBER. SUPPORTED THE BILL. PROTECTION OF SOURCE CODE. 46-14. FOSTERING INNOVATION. I SEE THE GENTLELADY FROM ARIZONA IS NOW ON THE FLOOR, PASSED BY A VOTE OF 48-12. A DEMOCRAT BILL. NATIONAL SECURITIES EXCHANGE REGULATORY PARITY ACT. 46-14. SO WE HAVE A LOT OF BIPARTISAN BILLS, BUT WITH ONE EXCEPTION, TITLE 5 OF THE TRADE IMPROVEMENT ACT, NONE OF THEM WERE SUPPORTED, UNFORTUNATELY, BY THE RANKING MEMBER. SO THERE'S AGAIN A LOT OF BIPARTISAN WORK WE'RE TRYING TO GET DONE HERE. UNFORTUNATELY, VERY LITTLE OF IT IS SUPPORTED BY THE RANKING MEMBER. WHY IS THIS IMPORTANT? IT'S IMPORTANT, MADAM SPEAKER, BECAUSE EVERY DAY WE'RE STILL HEARING FROM OUR CONSTITUENTS WHO NEED ACCESS TO COMPETITIVE AFFORDABLE CREDIT AND BECAUSE OF THIS WASHINGTON RED TAPE AND REGULATORY BURDEN, THEY'RE NOT GETTING IT. YOU KNOW, IT WASN'T THAT LONG AGO WE HEARD FROM ANN OF WISCONSIN WHO SAID, QUOTE, MY HUSBAND AND I HAD VERY HIGH CREDIT SCORES. WE HAVE PLENTY OF EQUITY IN OUR HOME, BUT BECAUSE MY HUSBAND HAS A SEASONAL JOB AND FINDS OTHER EMPLOYMENT IN THE WINTER, MANY BANKS WE CONTACTED REJECTED OUR LOAN REQUEST. THEY BASED OUR ANNUAL INCOME ONLY ON THE JOB HE HAS CURRENTLY AND SAID THAT WAS PART OF THE NEW REGULATION. PART OF THE NEW REGULATIONS. THERE'S SOMEBODY WHO CAN'T GET A HOME. I HEARD FROM MORTGAGE BANK FOR THE NORTH CAROLINA WHO SAID, LAST YEAR WE DECLINED A YOUNG MAN AND HIS FAMILY FIXED RATE FINANCING TO PURCHASE A PRIMARY HOME THE APPLICANT RECENTLY RELOCATED TO WORK FOR A FAMILY BUSINESS. PRIOR TO DODD-FRANK IT WOULD HAVE BEEN EASY TO QUALIFY, BUT NO MORE. ANOTHER POTENTIAL AMERICAN HOME BUYER DENIED CREDIT WAS OF THIS REGULATORY BURDEN. AND MADAM SPEAKER, THAT'S WHAT MANY OF US ON BOTH SIDES OF THE AISLE ARE TRYING TO REMEDY TODAY. AT THIS TIME, MADAM CHAIR, I'M PLEASED TO YIELD TWO MINUTES TO THE GENTLELADY FROM ARIZONA, MS. SINEMA, SPONSOR OF TITLE III OF THE ACT OF FOSTERING INNOVATION.

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                          • 04:07:18 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY IS RECOGNIZED FOR TWO MINUTES.

                          • 04:07:21 PM

                            MS. SINEMA

                            I RISE IN SUPPORT OF H.R. 3978, A PACKAGE OF COMMONSENSE SOLUTIONS, EACH…

                            I RISE IN SUPPORT OF H.R. 3978, A PACKAGE OF COMMONSENSE SOLUTIONS, EACH PASS WITH SUPPORT OF BOTH PARTIES. THANK YOU TO CONGRESSMAN HILL OF ARKANSAS FOR HIS LEADERSHIP IN MOVING THE PACKAGE FORWARD. ONE OF THESE SOLUTIONS IS H.L. 1635, THE FOSTERING INNOVATION ACT, LEGISLATION WE INTRODUCED TO HELP ARIZONA BIOPHARMACEUTICAL COMPANIES MAKE LIFE-SAVING BREAKTHROUGHS. BUSINESS EXPENSES ALWAYS INVOLVE TRADEOFFS. WHEN ARIZONA BUSINESSES SPEND MONEY ON COSTLY REGULATIONS THAT PROVIDE LITTLE PUBLIC BENEFIT, LESS TO INVEST IN JOB CREATION FOR ARIZONA FAMILIES. THAT'S WHY I INTRODUCED THIS BILL THIS FIX ENSURES BUSINESSES HAVE THE TIME AND CAPITAL TO PROTECT AND DEVELOP SCIENTIFIC BREAKTHROUGHS. RIGHT NOW THEY ARE EXEMPTED ONLY FOR FIVE YEARS FROM THESE COSTLY EXTERNAL AUDIT REQUIREMENTS. THAT'S OFTEN NOT ENOUGH TIME FOR THE EMERGING COMPANIES TO PREPARE INNOVATIONS FOR COMMERCIALIZATION. OUR BILL TEMPORARILY EXEMPTS EXTENSION FOR AN ADDITIONAL FIVE YEARS FOR A SMALL SUBSETH OF THE E.G.C.'S WITH AN ANNUAL REV LIEU OF LESS THAN $50 MILLION AND LESS THAN $700 MILLION IN PUBLIC FLOAT. THIS EMPOWERSEN INNOVATIVE ARIZONA COMPANIES TO USE VALUABLE RESOURCES TO REMAIN COMPETITIVE, STABLE, AND ULTIMATELY SUCCESSFUL. H.T. ZPWAMPLET TUCSON-BASED DEVELOPER OF TARGETED MOLECULAR TECHNOLOGY. THEIR INNOVATION ENSURES GENETIC TESTING CAN BE TURNED AROUND ACCURATELY AND QUICKLY IN AS LITTLE AS 24 HOURS. FOR PATIENTS, DOCTORS, AND THOSE GRAPPLING WITH UNEXPLAINED SYMPTOMS OR ILLNESSES, THOSE CAN PROVIDE CRITICAL INSIGHTS INTO LIFE 46 SAVING TREATMENTS. THIS IS WHAT COMPANIES LIKE H.G.C. SHOULD USE THEIR RESOURCES TO FUND, NOT COSTLY PAPERWORK. I URGE MY COLLEAGUES TO PASS THIS ACT. THANK YOU IN PARTICULAR TO CHAIRMAN HENSARLING AND CONGRESSMAN HOLLINGSWORTH OF INDIANA FOR WORKING WITH ME ON A CONSENSUS SOLUTION THAT CUT RED TAPE AND SUPPORTS INNOVATIVE AND POTENTIALLY LIFE-SAVING MEDICAL RESEARCH. THANK YOU, MR. SPEAKER, I YIELD BACK.

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                          • 04:09:40 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY YIELDS BACK. THE GENTLEMAN IS RECOGNIZED.

                          • 04:09:46 PM

                            MR. HENSARLING

                            HOW MUCH TIME DO I HAVE REMAINING?

                          • 04:09:48 PM

                            THE SPEAKER PRO TEMPORE

                            ONE MINUTE REMAINING.

                          • 04:09:50 PM

                            MR. HENSARLING

                            ONCE AGAIN, I WANT TO HEAR THE VOICE OS HALF -- OF HARDWORKING AMERICANS,…

                            ONCE AGAIN, I WANT TO HEAR THE VOICE OS HALF -- OF HARDWORKING AMERICANS, NOT JUST WASHINGTON, D.C., LETTERHEAD GROUPS. WE HEARD FROM A LOCAL BANKER WHO SAID A LOCAL UNION MEMBER WANTED TO REFINANCE HIS RESIDENCE, HE WAS LAID OFF DOOTH WINTER SEASON. HIS TAX RETURN SHOWED HE WAS GENERALLY LAID OFF FOR ABOUT SIX WEEKS EACH YORE DURING THE EXTREME COLD BUT WAS ALWAYS CALLED BACK WHEN WEATHER IMPROVE. SINCE HE WAS LAID OFF WE COULD NOT MEET THE REQUIREMENT TO VALIDATE HIS CURRENT INCOME THAT WOULD CONTINUE FOR THREE YEARS. WE HAD TO DENY THE LOAN. YET AGAIN, MR. SPEAKER, MORE WASHINGTON RED TAPE, TAKING AWAY HOME OPPORTUNITIES FROM HARDWORKING AMERICANS. IT IS WRONG. IT IS WRONG. WE MUST DO SOMETHING ABOUT IT. AND IT'S WHY ON A BIPARTISAN BASIS SO MANY OF US HAVE GOTTEN TOGETHER TO PASS H.R. 3978. YES, WE WANT TO MAKE SURE THAT PEOPLE CAN BUY HOMES, THEY CAN BUY CARS, THEY CAN PUT GROCERIES ON THE TABLE AND RIGHT NOW WHEN THE ECONOMY IS FINALLY STARTING TO IMPROVE, THANKS TO PRESIDENT TRUMP AND THE TAX CUT AND JOBS ACT, WE WANT THEM TO HAVE OPPORTUNITIES. I ENCOURAGE ALL MEMBERS TO SUPPORT H.R. 3978 AND I YIELD BACK THE BALANCE OF MY TIME.

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                          • 04:11:05 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS YIELDS BACK. ALL TIME FOR DEBATE HAS EXPIRED. FOR…

                            THE GENTLEMAN FROM TEXAS YIELDS BACK. ALL TIME FOR DEBATE HAS EXPIRED. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM ILLINOIS SEEK RECOGNITION?

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                          • 04:11:21 PM

                            >>

                            MR. CHAIRMAN, I HAVE AN AMENDMENT AT THE DESK.

                          • 04:11:25 PM

                            THE SPEAKER PRO TEMPORE

                            THE CLERK WILL DESIGNATE THE AMENDMENT.

                          • 04:11:27 PM

                            THE CLERK

                            AMENDMENT NUMBER 1 PRINTED IN PART C OF HOUSE REPORT 115-559, OFFERED BY…

                            AMENDMENT NUMBER 1 PRINTED IN PART C OF HOUSE REPORT 115-559, OFFERED BY MR. FOSTER OF ILLINOIS.

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                          • 04:11:39 PM

                            TEMPORE PURSUANT

                            PURSUANT TO THE RULE, THE GENTLEMAN FROM ILLINOIS, MR. FOSTER, AND A…

                            PURSUANT TO THE RULE, THE GENTLEMAN FROM ILLINOIS, MR. FOSTER, AND A MEMBER OPPOSED EACH WILL CONTROL FIVE MINUTES. THE CHAIR RECOGNIZES THE GENTLEMAN FROM ILLINOIS.

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                          • 04:11:46 PM

                            MR. FOSTER

                            MY AMENDMENT CLARIFIES THIS BILL IS ONLY INTENDED TO APPLY TO THE SOURCE…

                            MY AMENDMENT CLARIFIES THIS BILL IS ONLY INTENDED TO APPLY TO THE SOURCE CODE UNDERPINNING ALGO RHYTHMIC TRAINING. THE ALGO RHYTHMIC SOURCE CODE OF A TRADING FIRM ARE ITS CROWN JEWELS AND ITS -- BASICALLY THE CORE OF ITS EXISTENCE AND ITS INTELLECTUAL PROPERTY. IT IS NOT MERELY HISTORICAL OR DESCRIPTIVE LIKE BOOKS OF RECORDS THAT REGULATORS ROUTINELY HAVE ACCESS TO. IT'S NOT A BROAD EXPRESSION OF STRATEGIES THEY MAY USE IN THE FUTURE. RATHER IT'S A SPECIFIC AND PRESCRIPTIVE ALGORITHM. THE FIRMS THAT RELY ON ALGO RHYTHMIC TRADING HAVE PH.D. SCIENTISTS RESEARCHING CORRELATIONS THAT LEAD THAT THESE RELATIONSHIPS BETWEEN THE INPUTS AND OUTPUTS. THESE MAY BE SIMPLE BUT MAY ALSO BE INCREDIBLY COMPLEX, INVOLVING MULTIPLE INOUTS -- INPUTS THAT DO NOT REA-- APPEAR RELATED AT FIRST GLANCE THIS COMPLEXITY COUPLED WITH THE FACT THAT THEY ARE WRITTEN LARGELY IN COMPUTER CODE LIMITS THE EFFECTIVENESS OF EXAMINING SOURCE CODE. IT IS RATHER THE BEHAVIOR OF THE FIRM IN THE MARKET THAT REPRESENTS VIOLATION OF SECURITY LAWS. MANIPULATIVE BEHAVIOR LIKE DISPLAY ARGUE CANCELING ORDERS SHOULD PROMPT REGULATORS TO ASK THE FIRM TO EXPLAIN IT. SOURCE CODE WOULD BE AND WILL BE A VALUABLE PART OF ANY INVESTIGATION OR ENFORCEMENT ACTION INTO OBSERVED MANIPULATION OF THE MARKET BUT THIS IS NOT THE BASIS AND SHOULD NOT BE THE BASIS FOR CASUAL INSPECTION. IT WOULD BE -- PROBABLY BE CENTRAL TO PROVIDING THE ELEMENT OF INTENT IN AN ENFORCEMENT ACTION BECAUSE IT DEMONSTRATES THE ALGORITHM WAS DESIGNED TO ENGAGE IN FOR EXAMPLE, MANIPULATIVE OR ABUSIVE BEHAVIOR. TO THIS END, IT'S IMPERATIVE THAT THE FIRMS ACHIEVE ARCHIVED VERSIONS IN EFFECT AT ANY FWIVEN TIME AND LOG MODIFICATIONS TO THE ALGORITHMS AND WHO MADE THEM AT ANY TIME THE CODE IS ALTERED. THESE SHOULD ALWAYS BE AVAILABLE BY SUBPOENA. ADDITIONALLY, I BELIEVE MOST FIRMS WOULD ALLOW THE REGULATORS ON SITE TO EXAMINE THE SOURCE CODE ON AN AIR GAP COMPUTER. TO TREAT THE SOURCE CODE WOULD NOT LIMIT THE REGULATOR TO LEGLATION -- REGULATION BUT WOULD ALLOW THE STAFF TO REQUEST IT WHICH HAS REAL DANGERS. BUZZ OF THE VALUE OF THE FIRM CARRIES WITH ITS PROPRIETARY ALGORITHMS, IT MAKES SENSE THEY'D BE RELUCK TABT TO ALLOW ANY UNDUE ACCESS TO ITS CROWN JEWELS. AND THAT IS REALLY, I BELIEVE, AND I THINK THE MAJORITY OF MY COLLEAGUES BELIEVE, THAT IS SOMETHING THAT SHOULD BE ACCESSIBLE ONLY VIA SUBPOENA. SO MY AMENDMENT SIMPLY CLARIFIES THAT IT IS ONLY THE ALGO RHYTHMIC TRADING CODE AND RELATED INFORMATION THAT SHOULD BE COVERED. I URGE MY COLLEAGUES TO SUPPORT MY AMENDMENT AND UPON ITS ADOPTION TO SUPPORT THE BILL ON FINAL PASSAGE. THANK YOU AND I RESERVE THE BALANCE OF MY TIME.

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                          • 04:14:56 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN RESERVES. FOR WHAT PURPOSE DOES THE GENTLELADY FROM…

                            THE GENTLEMAN RESERVES. FOR WHAT PURPOSE DOES THE GENTLELADY FROM CALIFORNIA SEEK RICK IN ADDITION?

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                          • 04:15:03 PM

                            MS. WATERS

                            TO CLAIM TIME IN OPPOSITION TO THE AMENDMENT.

                          • 04:15:08 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY IS RECOGNIZED.

                          • 04:15:11 PM

                            MS. WATERS

                            THE CURRENT CODE WOULD REQUIRE S.E.C. EXAMINATION TO OBTAIN A SUBPOENA…

                            THE CURRENT CODE WOULD REQUIRE S.E.C. EXAMINATION TO OBTAIN A SUBPOENA BEFORE IT COULD INSPECT ANY SOURCE CODE WHATSOEVER, INCLUDING, FOR EXAMPLE, COMPUTER CODE REFLECTING THE FIRM'S ADHERENCE TO THE S.E.C.'S CYBER SECURITY REGULATIONS, THE AMENDMENT OFFERED BY MR. FOSTER WOULD NARROW THE REQUIREMENT IN TITLE 2 TO ONLY APPLY TO PROPRIETARY SOURCE CODE RELATED TO ALGO RHYTHMIC TRADING. WHILE I APPLAUD MR. FOSTER AND THE AMENDMENT'S CO-SPONSOR FOR NARROWING THE OVERBROAD LANGUAGE OF TITLE 2, IT CANNOT FIX THE UNTIMELY AND ILL-ADVISED LEGISLATION. EVEN AS AMENDED, TITLE 2 WOULD EFFECTIVELY UNDERMINE OVERSIGHT OF CREATORS WHO STAND TO BENEFIT FROM THE KIND OF EXTREME MARKET VOLATILITY WE HAVE SEEN IN THE LAST FEW WEEK. LET'S NOT FORGET THAT ON MAY 6, 2010, IN AN EVENT REFERRED TO AS THE FLASH CRASH, MAJOR UGS STOCK INDICES INEXPLICABLY PLUMMETED ONE TRILLION IN LESS THAN AN HOUR BEFORE MOSTLY REBOUNDING. . THEY TOOK FIVE MINUTES TO DETERMINE THE FLASH CRASH WAS CAUSED BY A COMBINATION OF A FLAWED EXECUTION ALGORITHM OF ONE INSTITUTIONAL INVESTOR AND AGGRESSIVE ALGORITHMIC TRADING BY F.T.S. WHILE IT'S TOO EARLY TO TELL WHAT CAUSED VOLATILITY IN THE U.S. STOCK MARKETS, MARKET ANALYSTS HAVE SUGGESTED THAT ALGOGH MYTH RICK -- ALGORITHMIC TRADING MAY BE IT. THE BIGGEST ONE DAY POINT DROP IN HISTORY HAPPENED LAST WEEK. TREASURY SECRETARY STEVE MNUCHIN TESTIFIED BEFORE THE HOUSE FINANCIAL SERVICES COMMITTEE THAT ALGORITHMIC TRADING, QUOTE, DEFINITELY HAD AN IMPACT ON MARKET MOVES, QUOTE-UNQUOTE. GIVEN THIS TRADING IN OUR STOCK MARKET, THIS INFORMATION ENABLED SUCH ACTIVITY MERELY BECAUSE IT IS -- IT EXISTED IN AN ELECTRONIC FORMAT. AMERICANS THAT HAVE TRILLIONS OF DOLLARS IN 401-K AND OTHER RETIREMENT AND SAVINGS PLANS DESERVE THE S.E.C.'S BEST EFFORTS IN INVESTIGATING AND MITIGATING COMPUTER-DRIVEN MARKET DISRUPTIONS. FOR THIS REASON AND FOR ALL OF THESE REASONS AND GIVEN MY BROADER CONCERNS THAT THE BILL WOULD SIGNIFICANTLY HARM INVESTOR CONFIDENCE IN OUR MARKETS EVEN IF THE AMENDMENT IS ADOPTED, I AM URGING A NO VOTE ON H.R. 3978. I YIELD BACK THE BALANCE OF MY TIME.

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                          • 04:18:06 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLELADY FROM CALIFORNIA YIELDS BACK THE BALANCE OF HER TIME. THE…

                            THE GENTLELADY FROM CALIFORNIA YIELDS BACK THE BALANCE OF HER TIME. THE GENTLEMAN FROM ILLINOIS IS RECOGNIZED.

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                          • 04:18:11 PM

                            MR. FOSTER

                            I'D LIKE TO SIMPLY REITERATE IT SHOULD BE THE ACTIONS IN THE MARKET THAT…

                            I'D LIKE TO SIMPLY REITERATE IT SHOULD BE THE ACTIONS IN THE MARKET THAT ARE THE FIRST INDICATIONS THAT THE REGULATORS SHOULD HAVE A LOOK AT. WHEN THEY SEE SUSPICIOUS ACTIVITY IN THE MARKET, THAT IS THE TIME TO GET THE SUBPOENA AND GO AFTER THE SOURCE CODE. AND SO WITH THAT I JUST URGE THE ADOPTION OF THE AMENDMENT AND PASSAGE OF THE UNDERLYING BILL. I YIELD BACK THE BALANCE.

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                          • 04:18:36 PM

                            THE SPEAKER PRO TEMPORE

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

                            THE GENTLEMAN FROM ILLINOIS YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME EXPIRING ON THE AMENDMENT, PURSUANT TO THE RULE, THE QUESTION IS ON ORDERING -- THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM ILLINOIS, MR. FOSTER. THE QUESTION IS ON THE AMENDMENT OFFERED BY THE GENTLEMAN FROM ILLINOIS, MR. FOSTER. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT AND THE AMENDMENT IS AGREED TO. THIRD READING OF THE BILL. THOSE IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THIRD READING.

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                          • 04:19:11 PM

                            THE CLERK

                            A BILL TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO…

                            A BILL TO AMEND THE REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 TO MODIFY REQUIREMENTS RELATED TO MORTGAGE DISCLOSURES AND FOR OTHER PURPOSES. MR. CAPUANO MOVES TO REPORT THE SAME BACK TO THE HOUSE FORTHWITH WITH THE FOLLOWING AMENDMENT --

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                          • 04:19:40 PM

                            MR. CAPUANO

                            MR. SPEAKER, WITHOUT OBJECTION, I ASK THE READING BE WAIVED? YOU WANT TO…

                            MR. SPEAKER, WITHOUT OBJECTION, I ASK THE READING BE WAIVED? YOU WANT TO READ IT?

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                          • 04:19:49 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS RESERVES A POINT OF ORDER. IS THERE OBJECTION TO…

                            THE GENTLEMAN FROM TEXAS RESERVES A POINT OF ORDER. IS THERE OBJECTION TO REQUEST FOR WAIVING THE READING OF THE AMENDMENT -- OR THE MOTION TO RECOMMIT? THERE IS OBJECTION. CLERK WILL READ.

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                          • 04:20:00 PM

                            THE CLERK

                            PAGE 5, LINE 13, STRIKE -- PAGE 5, LINE 14, STRIKE THE PERIOD AND INSERT…

                            PAGE 5, LINE 13, STRIKE -- PAGE 5, LINE 14, STRIKE THE PERIOD AND INSERT AND. PAGE 5 AFTER LINE 14 INSERT THE FOLLOWING -- D. HAS CLAWBACK POLICIES TO REQUIRE ANY EXECUTIVE OFFICE INCENTIVE BASE COMPENSATION TO THE CLAW BACK IN THE EVENT THE ISSUER IS REQUIRED TO PREPARE AN ACCOUNTING RESTATEMENT DUE TO THE MATERIAL NONCOMPLIANCE OF THE ISSUER WITHOUT ANY FINANCIAL REPORTING REQUIREMENT UNDER THE SECURITIES LAWS AS DESECTIONED IN 3-A OF THE SECURITIES EXCHANGE ACT OF 1934 REGARDLESS OF WHETHER SUCH COMPENSATION WAS PAID TO AN OFFICER WHO WAS A PARTY TO THE ACTIONS THAT RESULTED IN SUCH RESTATEMENT.

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                          • 04:20:46 PM

                            TEMPORE PURSUANT

                            PURSUANT TO THE RULE, THE GENTLEMAN FROM MASSACHUSETTS IS RECOGNIZED FOR…

                            PURSUANT TO THE RULE, THE GENTLEMAN FROM MASSACHUSETTS IS RECOGNIZED FOR FIVE MINUTES IN SUPPORT OF HIS MOTION.

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                          • 04:20:50 PM

                            MR. CAPUANO

                            THANK YOU, MR. SPEAKER. MY AMENDMENT SIMPLY REQUIRES A COMPANY TO HAVE A…

                            THANK YOU, MR. SPEAKER. MY AMENDMENT SIMPLY REQUIRES A COMPANY TO HAVE A POLICY IN PLACE TO CLAW BACK EXECUTIVES INCENTIVE BASE PAY IF IT IS MATERIALLY NONCOMPLIANT WITH FINANCIAL REPORTING REQUIREMENTS. NOW, THOSE WORDS MATTER BECAUSE THE WORDS MATERIALLY NONCOMPLIANT MEANS SOMETHING IN THE ACCOUNTING WORLD. IT HAS TO BE A BIG CHANGE. NOT A LITTLE ACCOUNTING ERROR. THIS AMENDMENT SHOULD BE NONCONTROVERSIAL. IT'S SHORTSIGHTED A DECADE AFTER THE CRISIS WE STILL DON'T HAVE COMMONSENSE SAFEGUARDS IN PLACE TO ENSURE THAT C.E.O.'S DO NOT TURN A BLIND EYE TO PROBLEMS THAT LEAD TO A PUBLIC RESTATEMENT OF THEIR COMPANY'S FINANCIALS. THIS ISN'T SOMETHING HYPOTHETICAL. IT HAPPENS ON A PRETTY REGULAR BASIS. IT'S NOT RELEGATED TO JUST THE PAST. EVERYBODY HERE IS PRETTY FAMILIAR WITH WELLS FARGO BANK. WELL, THEY GENERATED SCANDAL AFTER SCANDAL BY RIPPING OFF -- RIPPING OFF ITS OWN CONSUMERS. LAST YEAR THE BANK SETTLED AN 1-YEAR LAWSUIT WITH THE DEPARTMENT OF JUSTICE BECAUSE IT OVERCHARGED VETERANS WHO APPLIED FOR HOME LOAN REFINANCING. AT THE SAME TIME RELEARNED OF HUNDREDS OF THOUSANDS OF CAR INSURANCE, CAR LOAN CUSTOMERS CHARGED FOR CAR INSURANCE THAT THEY NEVER AGREED TO PURCHASE. IN 2016, WE LEARNED OF MILLIONS OF FAKE DEPOSITS AND CREDIT CARD STATEMENTS OPENED UP BY WELLS FARGO AND THEN CHARGING THEIR CUSTOMERS. LAST SEPTEMBER, THE BANK FAILED TO REFUND INSURANCE PAYMENTS MADE BY CUSTOMERS WHO PAID OFF THEIR CAR LOANS EARLY. AND MOST RECENTLY FOUND OUT THEY DELAYED MORTGAGE CLOSING DATES IN ORDER TO JACK UP THEIR OWN FEES. THESE ABUSES COME ON TOP OF A $10 BILLION IN FINES BY THAT BANK THAT'S BEEN PAID IN RECENT YEARS FOR EVERYTHING FROM MORTGAGE FRAUD, ILLEGAL MARKETING, KICKBACK SCHEMES, INSIDER TRADING, RACIAL DISCRIMINATION, AND STUDENT LOAN SCAMS. AND YET, THE BANK BELIEVES THAT THIS KIND OF CONSISTENT MISCONDUCT IS NOT MATERIALLY FINANCIALLY IMPORTANT ENOUGH TO REQUIRE A RESTATEMENT. WELLS FARGO'S ONLY EVER CLAWED BACK A FEW TINY DOLLARS FROM ITS EXECUTIVES. ALL THIS AMENDMENT DOES IS RECOMMIT -- RECOMMIT DOES IS SIMPLY SAYS THAT IF YOU COMMIT AN ACT THAT REQUIRES A MATERIAL CHANGE IN YOUR PUBLIC STATEMENTS THAT YOU SHOULDN'T PROFIT BY IT. THAT'S ALL. NOT BASIC PAY, JUST THE INCENTIVE PAY TIED TO THOSE ACTIONS. THE UNDERLYING BILL GOES IN THE OPPOSITE DIRECTION. IT MAKES IT MORE LIKELY THAT THERE WILL BE MATERIALLY INACCURACIES IN CERTAIN COMPANY S' CERTAIN FINANCIAL STATEMENTS. WE SHOULD AT THE VERY LEAST NOT INCENTIVIZE THAT BAD BEHAVIOR. TITLE 3 OF THIS BILL ALLOWS NEW PUBLIC COMPANIES TO GET OUT OF AUDIT REQUIREMENTS FOR 10 YEARS. 10 YEARS. NOW, WE ALL THINK, WELL, THAT'S FINE FOR A SMALL COMPANY. SMALL COMPANY? UP TO $700 MILLION OF COMPANY SHARES, THAT'S A SMALL COMPANY? THOSE ARE SIGNIFICANT COMPANIES THAT PUTS LOTS OF PEOPLE AT RISK. SHAREHOLDERS AND INVESTORS. IN 2002, THE SARBANES-OXLEY ACT -- AND I WANT TO REPEAT -- THE SARBANES-OXLEY ACT BECAUSE MIKE OXLEY WAS THE REPUBLICAN CHAIR OF THE FINANCIAL SERVICES COMMITTEE AT THE TIME, REQUIRED COMPANIES TO ISSUE STOCK TO PUBLICLY REPORT THEIR INTERNAL CONTROL STRUCTURES AND PROCEDURES FOR FINANCIAL REPORTING. THOSE REPORTS HAVE TO BE ATTESTED TO AND COVERED IN AN AUDIT REPORT. THERE'S NO REASON WHY INDEPENDENT AUDIT OF LARGE CORPORATIONS A GOOD THING. IT MAKES IT HARDER FOR THEM TO HIDE BAD ACTIONS. THIS RECOMMIT, AGAIN, IT'S SIMPLE. IT DOESN'T CHANGE THE UNDERLYING BILL. IT SIMPLY SAYS IF A CORPORATION MAKES A MATERIAL CHANGE TO ITS PUBLICLY STATED FINANCIAL RECORDS IN EXECUTIVE'S PAY, INCENTIVE PAY HAS BEEN TIED TO THE PROFITS MADE OFF OF THAT NOW-CHANGED POLICY, A COMPANY HAS TO HAVE A POLICY IN PLACE WHEREBY TO CLAW BACK THOSE ILL-GOTTEN PROFITS. I DON'T THINK THAT'S CONTROVERSIAL. I DON'T THINK THAT'S PARTISAN. I DON'T THINK THAT'S ANTI-BUSINESS. I DON'T THINK THAT'S OVERREGULATION. IT'S SIMPLY FAIR. WE DON'T LET BANK ROBBERS KEEP THEIR MONEY. WE DON'T LET OTHER PEOPLE WHO COMMIT WRONG DOINGS KEEP THE PROFITS THAT THEY HAVE. WHY SHOULD WE LET CORPORATIONS WHO GO OUT OF THEIR WAY -- SOME, NOT ALL -- ONLY A HANDFUL GO OUT OF THEIR WAY TO MAKE SURE THAT THEY HIDE THEIR BAD ACTIONS, REPORT THEM BADLY AND WHEN THEY GET CAUGHT AND HAVE TO REPORT THEM APPROPRIATELY THEY STILL GET TO KEEP THE ILL-GOTTEN GAINS. THAT IS ALL THIS RECOMMIT DOES. IT IS SIMPLY. IT IS STRAIGHTFORWARD, AND I WOULD HOPE MY FRIENDS ON NOT JUST THE OTHER SIDE BUT ON BOTH SIDES OF THIS AISLE SEE THIS AS A THOUGHTFUL, INCITEFUL AND COMMENS APPROACH TO AMEND THIS -- COMMONSENSE APPROACH TO AMEND THIS BILL. WITH THAT I YIELD BACK THE REMAINDER OF MY TIME.

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                          • 04:26:21 PM

                            THE SPEAKER PRO TEMPORE

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

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

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                          • 04:26:26 PM

                            MR. HENSARLING

                            MR. SPEAKER, I WITHDRAW MY RESERVATION. I CLAIM TIME IN OPPOSITION.

                          • 04:26:30 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN FROM TEXAS IS RECOGNIZED FOR FIVE MINUTES.

                          • 04:26:33 PM

                            MR. HENSARLING

                            MR. SPEAKER, I LISTENED VERY CAREFULLY TO MY COLLEAGUE ON THE FINANCIAL…

                            MR. SPEAKER, I LISTENED VERY CAREFULLY TO MY COLLEAGUE ON THE FINANCIAL SERVICES COMMITTEE. I LOST TRACK AT HOW MANY TIMES HE MENTIONED WELLS FARGO. THAT HAS NOTHING TO DO WITH AN EARLY GROWTH COMPANY. THAT HAS NOTHING TO DO WITH THIS TITLE OF THE BILL. AND SO THE FOSTERING INNOVATION ACT BY THE GENTLELADY FROM ARIZONA IS ALL ABOUT ALLOWING EMERGENCY -- EMERGING GROWTH COMPANIES THE OPPORTUNITY TO ACTUALLY GROW. WHAT A NOVEL CONCEPT. WHAT WE KNOW IS, MR. SPEAKER, IN EIGHT YEARS -- OF EIGHT YEARS OF OBAMANOMICS THEY WERE ONLY ABLE TO PRODUCE 8% OF ECONOMIC GROWTH. FOR ALL INTENTS AND PURPOSES, NOBODY'S SAVINGS CAME BACK, WAGES ARE STAGNANT. AND NOW THAT WE HAVE SENSIBLE REGULATION, NOW WE PASSED THE TAX CUT AND JOBS GROWTH ACT, NOW WE HAVE 3% ECONOMIC GROWTH WHICH IS ECONOMIC GROWTH FOR AMERICA'S WORKING FAMILIES. UNEMPLOYMENT IS AT A 17-YEAR LOW. IT REMAINS AT A 17-YEAR LOW. AGAIN, WAGES GREW AT 2.9% LAST YEAR, THE FASTEST IN ALMOST A DECADE. TWO MILLION AMERICANS HAVE GONE BACK TO WORK, MR. SPEAKER, AND THIS ISN'T BY ACCIDENT. AND SO WHAT THE GENTLEMAN IS DOING WITH HIS MOTION TO RECOMMIT IS SENDING US BACK. HE'S ROLLING THE CLOCK BACK, AN ERA WHERE WORKING AMERICANS DIDN'T GET AHEAD. WHERE ENTREPRENEURSHIP WAS AT A GENERATIONAL LOW. WHERE SMALL BUSINESSES WERE FINDING IT LARD TO ACCESS LINES OF CREDIT. AND SO THE BILL THAT HE SO MUCH MALIGNS FROM THE GENTLELADY FROM ARIZONA, WHO HAPPENS TO RESIDE ON HIS SIDE OF THE AISLE, AT MARKUP, THE RANKING MEMBER OF THE RELEVANT SUBCOMMITTEE, THE GENTLELADY FROM NEW YORK, MRS. MALONEY, SUPPORTED THE PROVISION AND SAID, QUOTE, THIS IS A SENSIBLE COMPROMISE THAT PROVIDES A NARROWLY TARGETED RELIEF TO ONLY THE COMPANIES THAT TRULY NEEDED. RESEARCHING A NEW DRUG AND GETTING F.D.A. APPROVAL IS A VERY, VERY LONG PROCESS. WHICH IS EXACTLY WHAT WE HEARD IN OUR COMMITTEE. WE HEARD FROM -- FOR EXAMPLE, WE HEARD FROM JOHN BLAKE, SENIOR VICE PRESIDENT OF FINANCE AT ATEAR PHARMA TESTIFIED WHO SAID, IT REMAINS THE CASE THAT THE BIODEVELOPMENT TIMELINE IS A DECADES' LONG AFFAIR. IT'S EXTREMELY LIKELY THAT WE WILL BE IN THE LAB AND CLINIC WHEN OUR E.G.C., EARLY GROWTH COMPANY -- THEY MAY HAVE REVENUES BUT THEY DON'T HAVE PROFITS. THEY WON'T HAVE PROFITS. THIS IS ESPECIALLY COMMON IN A BIOTECH AREA. THEY NEED THIS CAPITAL FOR INNOVATION. AND SO ONCE AGAIN WE HAVE HEARD THIS RHETORIC ON THE OTHER SIDE OF THE AISLE BEFORE. THIS IS ALL ABOUT DODD-FRANK REVISITED. THEY AIM AT WALL STREET BUT THEY HIT MAIN STREET, MR. SPEAKER. THE M.T.R., THE MOTION TO RECOMMIT HITS MAIN STREET IN THE GUT. IT WILL MEAN FEWER EARLY GROWTH COMPANIES. IT WILL MEAN FEWER JOBS. IT WILL MEAN LOWER WAGE GROWTH AND IT WILL MEAN, AGAIN, A DECIMATED AND DECLINING AMERICAN DREAM. WE SHOULD REJECT THE MOTION TO RECOMMIT AND WE SHOULD SUPPORT THE UNDERLYING BILL AND I YIELD BACK THE BALANCE OF MY TIME.

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                          • 04:30:17 PM

                            THE SPEAKER PRO TEMPORE

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

                            THE GENTLEMAN FROM TEXAS YIELDS BACK THE BALANCE OF HIS TIME. ALL TIME HAVING EXPIRED, WITHOUT OBJECTION, THE PREVIOUS QUESTION IS ORDERED ON THE MOTION TO RECOMMIT. THE QUESTION IS ON THE MOTION. ALL THOSE IN FAVOR SAY AYE. ALL THOSE OPPOSED, NO. THE NOES HAVE IT. THE MOTION IS NOT AGREED TO. THE GENTLEMAN FROM MASSACHUSETTS.

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                          • 04:30:31 PM

                            MR. CAPUANO

                            ON THAT I REQUEST A ROLL CALL VOTE.

                          • 04:30:33 PM

                            THE SPEAKER PRO TEMPORE

                            THE GENTLEMAN REQUEST THE YEAS AND NAYS? THE YEAS AND NAYS ARE REQUESTED.…

                            THE GENTLEMAN REQUEST THE YEAS AND NAYS? 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. PURSUANT TO CLAUSE 8 OF RULE 20 , THIS 15-MINUTE VOTE ON THE MOTION TO RECOMMIT WILL BE FOLLOWED BY FIVE-MINUTE VOTES ON PASSAGE OF THE BILL, IF ORDERED, AND PASSAGE OF H.R. 3299. 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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                          • 04:57:06 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE THE YEAS ARE 189. THE NAYS ARE 228. THE MOTION IS NOT…

                            ON THIS VOTE THE YEAS ARE 189. THE NAYS ARE 228. THE MOTION IS NOT ADOPTED. THE QUESTION IS ON PASSAGE OF THE BILL. THOSE IN FAVOR WILL SAY AYE. THOSE OPPOSED SAY NO. IN THE OPINION OF THE CHAIR, THE AYES HAVE IT. THE GENTLELADY FROM CALIFORNIA. THE GENTLELADY FROM CALIFORNIA IS RECOGNIZED.

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                          • 04:57:28 PM

                            MS. WATERS

                            I CALL THE YEAS AND NAYS.

                          • 04:57:30 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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                          • 05:05:00 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE, THE YEAS ARE 271, THE NAYS ARE 145. THE BILL IS PASSED.…

                            ON THIS VOTE, THE YEAS ARE 271, THE NAYS ARE 145. THE BILL IS PASSED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. THE UNFINISHED BUSINESS IS THE VOTE ON PASSAGE OF H.R. 3299 ON WHICH THE YEAS AND NAYS ARE ORDERED. THE CLERK WILL REPORT THE TITLE OF THE BILL.

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                          • 05:05:20 PM

                            THE CLERK

                            H.R. 3299, A BILL TO AMEND THE REVISED STAUT OF HIGH PRESSURE SYSTEM…

                            H.R. 3299, A BILL TO AMEND THE REVISED STAUT OF HIGH PRESSURE SYSTEM OWNERS ACT AND THE FEDERAL DEPOSIT INSURANCE ACT TO REQUIRE THE LOANS REMAIN UNCHANGED AFTER TRANSFER OF THE LOANS AND FOR OTHER PURPOSES.

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                          • 05:05:39 PM

                            THE SPEAKER PRO TEMPORE

                            THE QUESTION IS ON PASSAGE OF THE BILL. MEMBERS WILL RECORD THEIR VOTES BY…

                            THE QUESTION IS ON PASSAGE OF THE BILL. 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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                          • 05:13:31 PM

                            THE SPEAKER PRO TEMPORE

                            ON THIS VOTE, THE YEAS ARE 245 AND THE NAYS ARE 171. THE BILL IS PASSED.…

                            ON THIS VOTE, THE YEAS ARE 245 AND THE NAYS ARE 171. THE BILL IS PASSED. WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM PENNSYLVANIA SEEK RECOGNITION?

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                          • 05:13:47 PM

                            >>

                            I ASK UNANIMOUS CONSENT TO -- THE SPEAKER PRO TEMPORE:

                          • 05:13:55 PM

                            TEMPORE THE

                          • 05:14:01 PM

                            >>

                            I ASK TO MAKE A UNANIMOUS CONSENT REQUEST. I ASK UNANIMOUS CONSENT THAT MY…

                            I ASK TO MAKE A UNANIMOUS CONSENT REQUEST. I ASK UNANIMOUS CONSENT THAT MY NAME BE ADDED AS CO-SPONSOR TO THE BILL H.R. 676.

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                          • 05:14:16 PM

                            THE SPEAKER PRO TEMPORE

                            WITHOUT OBJECTION. SO ORDERED. THE HOUSE WILL BE IN ORDER. THE CHAIR WILL…

                            WITHOUT OBJECTION. SO ORDERED. THE HOUSE WILL BE IN ORDER. THE CHAIR WILL NOW ENTERTAIN REQUESTS FOR ONE-MINUTE SPEECHES. THE GENTLEMAN FROM MINNESOTA, FOR WHAT PURPOSE?

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                          • 05:14:49 PM

                            >>

                            PERMISSION TO ADDRESS THE HOUSE FOR ONE MINUTE.

                          • 05:14:55 PM

                            >>

                            MR. SPEAKER, THE HOUSE IS NOT IN ORDER.

                          • 05:14:59 PM

                            THE SPEAKER PRO TEMPORE

                            THE HOUSE WILL BE IN ORDER. WILL ALL MEMBERS REMOVE THEIR CONVERSATIONS.…

                            THE HOUSE WILL BE IN ORDER. WILL ALL MEMBERS REMOVE THEIR CONVERSATIONS. THE HOUSE WILL BE IN ORDER. .

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                          • 05:15:37 PM

                            THE SPEAKER PRO TEMPORE

                            IF ALL MEMBERS WILL PLEASE REMOVE THEIR CONVERSATIONS. THE GENTLEMAN IS…

                            IF ALL MEMBERS WILL PLEASE REMOVE THEIR CONVERSATIONS. THE GENTLEMAN IS RECOGNIZED.

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                          • 05:15:54 PM

                            >>

                            MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE SERVICE OF CARVER COUNTY…

                            MR. SPEAKER, I RISE TODAY TO RECOGNIZE THE SERVICE OF CARVER COUNTY SHERIFF GYM OLSON WHO RECENTLY ANNOUNCED HIS RETIREMENT. HE BEGAN HIS LAW ENFORCEMENT CAREER 31 YEARS AGO.

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                          • 05:16:06 PM

                            MR. PAULSEN

                            HE WAS ELECTED TO HIS FIRST FOUR-YEAR TERM IN 2010 AND RE-ELECTED IN 2014.…

                            HE WAS ELECTED TO HIS FIRST FOUR-YEAR TERM IN 2010 AND RE-ELECTED IN 2014. OLSON HAS LED LAW ENFORCEMENT OPERATIONS DURING A TIME WHEN CARVER COUNTY SURPASSED A POPULATION OF OVER 100,000 PEOPLE, MAKING TO ONE OF THE FASTEST GROWING COUNTIES IN MINNESOTA. HE OVERSAW MAJOR PUBLIC SAFETY OPERATIONS DURING THE AFTERMATH OF PRINCE'S DEATH AS WELL AS THE RYDER CUP IN 2016. HE'S WELL RESPECTED IN OUR COMMUNITY AND IS INVOLVED IN COMMUNITY OUTREACH, RAISING PUBLIC AWARENESS OF MENTAL HEALTH RESOURCES, EDUCATING THE PUBLIC ABOUT THE ROLE OF THE SHERIFF'S OFFICE AND SUPPORTING THE HOPE HOUSE, A YOUTH HOMELESS SHELTER. I WANT TO THANK SHERIFF OLSON FOR HIS MANY YEARS OF SERVICE AND DEDICATION, FOR KEEPING THE RESIDENTS OF CARVER COUNTY SAFE. WE WISH HIM THE BEST OF LUCK IN HIS FUTURE, AND HE WILL BE MISSED. I YIELD BACK.

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                          • 05:17:02 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEW JERSEY SEEK RECOGNIZE YIGS?…

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEW JERSEY SEEK RECOGNIZE YIGS? -- RECOGNITION?

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                          • 05:17:07 PM

                            >>

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

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

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                          • 05:17:11 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION. THE HOUSE WILL BE IN ORDER. MEMBERS, PLEASE REMOVE…

                            WITHOUT OBJECTION. THE HOUSE WILL BE IN ORDER. MEMBERS, PLEASE REMOVE THEIR CONVERSATIONS. THE GENTLEMAN IS RECOGNIZED.

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                          • 05:17:18 PM

                            MR. PAYNE

                            MR. SPEAKER, I RISE TODAY TO HONOR AMERICA'S HEALTH AND WELLNESS COACHES.…

                            MR. SPEAKER, I RISE TODAY TO HONOR AMERICA'S HEALTH AND WELLNESS COACHES. HEALTH AND WELLNESS COACHES HELP PEOPLE CHANGE THEIR UNHEALTHY LIFESTYLES AND MANAGE CHRONIC ILLNESSES. MR. SPEAKER, I AM A DIABETIC. I ALSO SUFFER FROM MACULAR DEGENERATION AND HEART DISEASE. I KNOW FIRSTHAND HOW DIFFICULT IT IS FOR PEOPLE TO CHANGE THEIR BEHAVIORS AND MAKE HEALTHIER LIFE CHOICES. BUT I ALSO KNOW THAT CHANGE IN BEHAVIOR CAN IMPROVE OVERALL HEALTH AND REDUCE THE AMOUNT OF COSTLY MEDICAL CARE PEOPLE NEED. THE AMERICAN MEDICAL ASSOCIATION RECENTLY FOUND THAT HAVING A HEALTH AND WELLNESS COACH INVOLVED IN A PERSON'S WELLNESS JOURNEY NOT ONLY INCREASES PATIENT SATISFACTION AND ENGAGEMENT BUT ALSO REDUCES PHYSICIAN STRESS AND BURNOUT BY FREEING UP THEIR TIME. LAST WEEK I INTRODUCED HOUSE RESOLUTION 733, TO EXPRESS SUPPORT FOR HEALTH AND WELLNESS COACHES AND TO DESIGNATE THIS WEEK AS NATIONAL HEALTH AND WELLNESS COACH RECOGNITION WEEK. MR. SPEAKER, I ASK MY COLLEAGUES TO JOIN ME IN CELEBRATING OUR NATION'S HEALTH AND WELLNESS COACHES. AND WITH THAT I YIELD BACK.

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                          • 05:18:39 PM

                            THE SPEAKER PRO TEMPORE

                            THE HOUSE WILL BE IN ORDER. IF MEMBERS WOULD PLEASE REMOVE THEIR…

                            THE HOUSE WILL BE IN ORDER. IF MEMBERS WOULD PLEASE REMOVE THEIR CONVERSATIONS. FOR WHAT PURPOSE DOES THE GENTLEMAN FROM INDIANA SEEK RECOGNITION?

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                          • 05:18:52 PM

                            >>

                            THANK YOU, MR. SPEAKER. I SEEK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR…

                            THANK YOU, MR. SPEAKER. I SEEK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE.

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                          • 05:18:58 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 05:19:10 PM

                            MR. MESSER

                            DAVID HAS SERVED AS THE SENATE -- INDIANA SENATE FOR 22 YEARS AND…

                            DAVID HAS SERVED AS THE SENATE -- INDIANA SENATE FOR 22 YEARS AND PRESIDENT PRO TEMPORE FOR THE LAST 12. DAVID IS A REMARKABLE LEADER WHO'S BEEN CENTRAL TO EVERY MAJOR POLICY ACHIEVEMENT IN INDIANA AT A STATE LEVEL OVER THE PAST DECADE. HE LED THE CHARGE ON CUTTING TAXES, PASSING RIGHT TO WORK, ENACTING MAJOR MOVES, CREATING ONE OF THE BIGGEST AND BEST SCHOOL CHOICE PROGRAMS IN THE COUNTRY, AND PERMANENTLY CAPPING PROPERTY TAXES. ON A PERSONAL NOTE, DAVID LONG IS MY MENTOR. WE'RE BOTH GRADUATES OF WAUBASH COLLEGE, AND WE BOTH OVERACHIEVED IN MARRIAGE. I WILL ALWAYS BE GRATEFUL FOR HIS FRIENDSHIP, ADVICE AND COUNSEL, AND I THANK DAVID FOR HIS YEARS OF SERVICE. THANK YOU, MR. SPEAKER. I YIELD BACK.

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                          • 05:19:57 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM OHIO SEEK RECOGNITION?

                          • 05:20:01 PM

                            MS. KAPTUR

                          • 05:20:07 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 05:20:10 PM

                            MS. KAPTUR

                            MR. SPEAKER, OUR LAW ENFORCEMENT AND INTELLIGENCE COMMUNITY MOST POINTEDLY…

                            MR. SPEAKER, OUR LAW ENFORCEMENT AND INTELLIGENCE COMMUNITY MOST POINTEDLY THE FEDERAL BUREAU OF INVESTIGATION IS SUSTAINING AN UNPRECEDENTED COORDINATED ATTACK. LIKE A CANCER, THE STRIKES ARE COMING FROM DEEP IN THE MARROW OF OUR DEMOCRATIC REPUBLIC. OUR OWN PRESIDENT AND EVEN SOME MEMBERS OF CONGRESS BLOCK THE LIGHT OF JUSTICE. IN HIS STATE OF THE UNION ADDRESS, PRESIDENT TRUMP BRAGGED ABOUT THE APPREHENSION OF VIOLENT CRIMINALS AND GANG MEMBERS. THE HYPOCRISY OF THIS PRESIDENT TAKING CREDIT FOR THE DANGEROUS WORK OF OUR F.B.I. AND LARGER INTELLIGENCE COMMUNITY WHILE SYSTEMATICALLY AND DOGGEDLY WORKING TO UNDERMINE PUBLIC FAITH IN THESE INSTITUTIONS IS AN OUTRAGE. UNDER SPECIAL COUNSEL MUELLER'S DIRECTION IN 2012, THE F.B.I. MADE 25,000 ARRESTS, AND 14,800 INDICTMENTS. THEY LOCATED 1,100 MISSING CHILDREN AND SEIZED 1.25 BILLION DOLLARS WORTH OF CRIMINAL ASSETS AND DRUGS. THE HISTORIC ROLE OF THE F.B.I. IN BRINGING MAJOR CRIMINALS AND FOREIGN AND DOMESTIC ENEMIES OF OUR STATE TO JUSTICE CANNOT BE OVERSTATED. THE F.B.I. HAS DEFENDED US IN WAYS AND MEASURES WELL BEYOND GENERAL PUBLIC AWARENESS. NOT OUT OF PATRIOTISM AND COMMITMENT TO OUR DEMOCRACY AND ITS INSTITUTIONS, THEN OUT OF SHEER NECESSITY, CONGRESS AND THE AMERICAN PEOPLE MUST DEFEND THE RULE OF LAW. I YIELD BACK.

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                          • 05:21:39 PM

                            TEMPORE MEMBERS

                            MEMBERS ARE REMINDED TOWARD -- TO REFRAIN FROM ENGAGING IN PERSONALITIES…

                            MEMBERS ARE REMINDED TOWARD -- TO REFRAIN FROM ENGAGING IN PERSONALITIES TOWARD THE PRESIDENT. FOR WHAT PURPOSE DOES THE GENTLEMAN RISE?

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                          • 05:21:51 PM

                            >>

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

                          • 05:21:55 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 05:22:18 PM

                            MR. YODER

                            RIGHT NOW THE PER COUNTRY CAPS ON GREEN CARDS FOR HIGHLY SKILLED H 1-B…

                            RIGHT NOW THE PER COUNTRY CAPS ON GREEN CARDS FOR HIGHLY SKILLED H 1-B IMMIGRANTS, THE CAPS CREATED A HUGE BACKLOG OF INDIAN APPLICANTS WHO WILL HAVE TO WAIT DECADES, AS MUCH AS 70 YEARS TO ACHIEVE THEIR DREAM OF CITIZENSHIP. THIS MUST BE REPLACED BY A MERIT-BASED SYSTEM THAT TREATS EVERYONE FAIRLY. MY BILL WOULD DO JUST THAT. I URGE MY COLLEAGUES TO NOT LET OUR COMPASSION END WITH DACA RECIPIENTS. LET'S ALSO USE THIS OPPORTUNITY TO PROMOTE FAIRNESS FOR HIGH-SKILLED IMMIGRANTS AS WELL. I YIELD BACK.

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                          • 05:22:57 PM

                            THE SPEAKER PRO TEMPORE

                            IF MEMBERS AND GROUPS OF MEMBERS WOULD PLEASE REMOVE THEIR CONVERSATIONS…

                            IF MEMBERS AND GROUPS OF MEMBERS WOULD PLEASE REMOVE THEIR CONVERSATIONS FROM THE FLOOR. FOR WHAT PURPOSE DOES THE GENTLEWOMAN FROM TEXAS SEEK RECOGNITION?

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                          • 05:23:07 PM

                            MS. JACKSON LEE

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

                          • 05:23:11 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 05:23:19 PM

                            MS. JACKSON LEE

                            MR. SPEAKER, AS WE HE ADDRESS WOMEN'S HISTORY MONTH IN THE MONTH OF MARCH,…

                            MR. SPEAKER, AS WE HE ADDRESS WOMEN'S HISTORY MONTH IN THE MONTH OF MARCH, I RAISE THE ATTENTION OF MY COLLEAGUES TO A SET OF CIRCUMSTANCES THAT WE HAVE SEEN RELATING TO THE ADMINISTRATION AND ITS PERSONNEL POLICIES. BUT THE REAL ISSUE IS THE AFFIRMATION OF THE OPPOSITION TO DOMESTIC VIOLENCE AND ABUSE. THOUSANDS OF WOMEN AND SOME MEN LOSE THEIR LIVES TO DOMESTIC ABUSE AND DOMESTIC VIOLENCE. THOUSANDS LIVE IN SILENCE AND ABSOLUTE FEAR. CHILDREN SEE THEIR MOTHERS KILLED AND SOME MEN. AND TO HAVE THE KIND OF INSENSITIVITY TO THE IMPORTANCE OF ANYONE WHO HAS ENGAGED IN DOMESTIC VIOLENCE AND DOMESTIC ABUSE TO BE IGNORED SENDS A WRONG SIGNAL TO THE GIRLS AND YOUNG WOMEN IN THIS COUNTRY. WE MUST JOIN TOGETHER IN A BIPARTISAN MANNER TO ENSURE THAT THE VIOLENCE AGAINST WOMEN ACT IS RE-AUTHORIZED IN MARCH, AND WE MUST PRONOUNCE THAT DOMESTIC VIOLENCE AND DOMESTIC ABUSE IS WRONG AND THAT IT IS WRONG FOR MEN, FOR WOMEN, FOR FAMILIES AND IT IS SOMETHING THAT SHOULD BE CONDEMNED AND NOT CONDONED AND NO MATTER HOW IMPORTANT A POSITION YOU MAY HOLD, IT IS IMPORTANT FOR AMERICA'S LEADERSHIP TO DENOUNCE THIS KIND OF VICIOUS ATTACK ON FAMILIES. WITH THAT I LOOK FORWARD TO BIPARTISANSHIP AND I YIELD BACK.

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                          • 05:24:46 PM

                            THE SPEAKER PRO TEMPORE

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

                          • 05:24:51 PM

                            >>

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

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

                            Show Full Text
                          • 05:24:55 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 05:24:56 PM

                            >>

                            MR. SPEAKER, I RISE TODAY TO RECOGNIZE A WORLD-CLASS ATHLETE AND OLYMPIAN…

                            MR. SPEAKER, I RISE TODAY TO RECOGNIZE A WORLD-CLASS ATHLETE AND OLYMPIAN HAILING FROM THE 22ND CONGRESSIONAL DISTRICT.

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                          • 05:25:05 PM

                            MS. TENY

                            TWO-TIME WORLD CHAMPION, ERIN CARRIED THE TEAM U.S.A. FLAG DURING THE 2018…

                            TWO-TIME WORLD CHAMPION, ERIN CARRIED THE TEAM U.S.A. FLAG DURING THE 2018 OPENING CEREMONY IN PYEONGCHANG, SOUTH KOREA, LAST FRIDAY. ERIN WAS SELECTED FROM OVER EIGHT OTHER ATHLETES TO ENTER HER LAST OLYMPIC GAMES AS THE FLAG BEARER. ERIN MADE HISTORY IN 2014 AS THE FIRST U.S. ATHLETE TO WIN A SINGLES LUGE MEDAL AFTER TAKING BRONZE AFTER THE SOCHI GAMES. SHE WAS THE FIRST WOMAN FLAG BEARER SINCE 2010. ERIN LED 244 ATHLETES, THE LARGEST TEAM EVER FROM THE UNITED STATES. YESTERDAY, SHE COMPETED IN THE LAST OF HER OUTSTANDING -- LAST OLYMPICS OF HER OUTSTANDING CAREER. ERIN WILL BE REMEMBERED AS SOMEONE WHO SHARED -- SHATTERED BARRIERS FOR BOTH MEN AND WOMEN IN THE SPORT OF LUGE. I WANT TO THANK ONEIDA COUNTY ERIN HAMLIN OR THIS INCREDIBLE ACHIEVEMENT -- ON THESE INCREDIBLE ACHIEVEMENTS. I YIELD BACK.

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                          • 05:26:08 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM ILLINOIS SEEK RECOGNITION?

                          • 05:26:11 PM

                            >>

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

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

                            Show Full Text
                          • 05:26:15 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 05:26:34 PM

                            MR. LIPINSKI

                            THIS IS A TERRIBLE TRAGEDY FOR THE CHICAGO POLICE DEPARTMENT AND MOST OF…

                            THIS IS A TERRIBLE TRAGEDY FOR THE CHICAGO POLICE DEPARTMENT AND MOST OF ALL FOR PAUL'S WIFE AND YOUNG DAUGHTER. PAUL GRADUATED TWO YEARS AHEAD OF ME AT SAINT AGNUS AND JOINED THE POLICE DEPARTMENT SOON AFTER. HE ROSE THROUGH THE RANKS OVER 22 YEARS AND LATER BECAME COMMANDER OF THE NORTH DISTRICT. A MEMBER OF NATIVITY PARISH IN BRIDGEPORT, PAUL IS BEING REMEMBERED AS A LOVING FATHER AND HUSBAND. SOMEONE WHO KNEW THE VALUE OF COMMUNITY POLICING AND GIVING BACK. AND FOR LEADING EFFORTS TO RAISE FUNDS FOR CHICAGO POLICE MEMORIAL FUND. MR. SPEAKER, I ASK MY COLLEAGUES TO JOIN ME IN MOURNING THE PASSING OF COMMANDER PAUL BAUER. PLEASE PRAY FOR HIM AND FOR HIS FAMILY AND FOR OUR CITY, AND PLEASE REMEMBER TO TAKE A MOMENT TO THANK THE POLICE AND OTHER FIRST RESPONDERS THAT YOU ENCOUNTER EVERY DAY. WE OWE THEM SO MUCH. I YIELD BACK.

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                          • 05:27:47 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM CALIFORNIA SEEK RECOGNITION?

                          • 05:27:51 PM

                            >>

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

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

                            Show Full Text
                          • 05:27:58 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 05:28:01 PM

                            MR. LAMALFA

                            MR. SPEAKER, I RISE TODAY TO COMMEND THE HEALTH AND HUMAN SERVICES NEW…

                            MR. SPEAKER, I RISE TODAY TO COMMEND THE HEALTH AND HUMAN SERVICES NEW RELIGIOUS FREEDOM DIVISION WITHIN THE OFFICE OF CIVIL RIGHTS. RECENTLY THEY ANNOUNCED A PROPOSED RULE TO PROTECT WORKERS FROM BEING COERCED INTO PRACTICING ACTIVITIES THAT VIOLATES THEIR CONSCIENCE, INCLUDING ABORTION, STERILIZATION, ASSISTED SUICIDE AND MORE. UNDER THE PREVIOUS ADMINISTRATION, DOCTORS AND NURSES WERE NOT PROTECTED FROM BEING FORCED TO PARTICIPATE IN PROCEDURES THAT MAY VIOLATE THEIR RELIGIOUS BELIEFS OR MORAL CONVICTIONS. THIS IS CLEARLY WRONG. THOSE THAT ARE DISCRIMINATED AGAINST FOR RELIGIOUS BELIEFS SHOULD BE AFFORDED THE SAME PROTECTIONS AS THOSE FACING ANY OTHER TYPES OF DISCRIMINATION. O.C.R. HAS OPENED A 60-DAY PUBLIC COMMENT PERIOD ON THE RULE AND I ENCOURAGE EVERYONE ACROSS THE COUNTRY TO PARTICIPATE IN THAT COMMENT PERIOD. I THANK THE DIVISION ONCE AGAIN FOR TAKING THIS IMPORTANT ACTION TO PROTECT RELIGIOUS LIBERTY IN OUR HEALTH CARE SYSTEM. I YIELD BACK.

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                          • 05:28:58 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM NEVADA SEEK RECOGNITION? WITHOUT…

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

                            Show Full Text
                          • 05:29:17 PM

                            >>

                            THANK YOU, MR. SPEAKER. TODAY I RISE TO REMEMBER THE LIFE OF AUSTIN DAVIS…

                            THANK YOU, MR. SPEAKER. TODAY I RISE TO REMEMBER THE LIFE OF AUSTIN DAVIS WHO VISITED LAS VEGAS TO ATTEND HE THE ROUTE 51 CONCERT ON OCTOBER 1. AUSTIN WAS AN ONLY CHILD WHO HE WAS -- HE WAS VERY CLOSE TO HIS PARENTS.

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                          • 05:29:36 PM

                            MR. KIHUER

                            HE LIVED IN RIVERSIDE, CALIFORNIA, AND WORKED AS A PIPE FITTER. IN HIS…

                            HE LIVED IN RIVERSIDE, CALIFORNIA, AND WORKED AS A PIPE FITTER. IN HIS FREE TIME HE LOVED TO PLAY SOFTBALL. ALL WHO KNEW AUSTIN KNEW HIM FOR HIS CONTAGIOUS SMILE AND HARDWORKING AND CARING NATURE.

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                          • 05:29:53 PM

                            MR. KIHUEN

                            PLEASE KNOW THE CITY OF LAS VEGAS, STATE OF NEVADA, AND THE WHOLE COUNTRY…

                            PLEASE KNOW THE CITY OF LAS VEGAS, STATE OF NEVADA, AND THE WHOLE COUNTRY GRIEVE WITH YOU. MR. SPEAKER, I YIELD THE REMAINING BALANCE OF MY TIME.

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                          • 05:30:05 PM

                            THE SPEAKER PRO TEMPORE

                            FOR WHAT PURPOSE DOES THE GENTLEMAN FROM TEXAS SEEK RECOGNITION?

                          • 05:30:09 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.

                            Show Full Text
                          • 05:30:15 PM

                            MR. BURGESS

                            I RISE TO HONOR SAM JOHNSON. THIS WEEK MARKS 45 YEARS SINCE HE RETURNED TO…

                            I RISE TO HONOR SAM JOHNSON. THIS WEEK MARKS 45 YEARS SINCE HE RETURNED TO FREEDOM AFTER ENDURING NEARLY SEVEN YEARS AS A PRISONER OF WAR IN THAT KNOW, VIETNAM. EACH FEBRUARY, WE ARE REMINDED OF HIS LEADERSHIP THAT WILL SAM JOHNS ONG DISPLAYED DURING HIS TIME AS A PRISONER OF WAR. WE ARE REMINDED OF THE PERSISTENCE OF SAM'S FAMILY AND THE JOY AND JOY OF OUR NORTH TEXAS COMMUNITY WHEN SAM RETURNED HOME TO TEXAS IN 1973. SAM JOHNSON HAS SERVED OUR COUNTRY SELFLESSLY IN HIS AIR FORCE CAREER AND HERE IN THE HOUSE OF REPRESENTATIVES SINCE HE WAS ELECTED TO THE HOUSE IN 1991. HE HAS BEEN AN ADVOCATE FOR OUR ARMED FORCES, OUR VETERANS AND AMERICA FREEDOM. 15 YEARS AGO, I GAVE MY FLOOR SPEECH MARKING 30 YEARS SINCE MR. JOHNSON RETURNED HOME. IT IS A PRIVILEGE TO HONOR MY FRIEND AND MENTOR ON HIS 45TH RETURN ANNIVERSARY. SAM JOHNSON, WELCOME HOME.

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                          • 05:31:25 PM

                            THE SPEAKER PRO TEMPORE

                            ARE THERE ANY ADDITIONAL REQUESTS FOR ONE-MINUTE SPEECHES? THE CHAIR LAYS…

                            ARE THERE ANY ADDITIONAL REQUESTS FOR ONE-MINUTE SPEECHES? THE CHAIR LAYS BEFORE THE HOUSE THE FOLLOWING PERSONAL REQUESTS.

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                          • 05:31:36 PM

                            THE CLERK

                            LEAVES OF ABSENCE FOR MR. LOBIONDO AND FOR TOMORROW AND MISWATSON COLEMAN…

                            LEAVES OF ABSENCE FOR MR. LOBIONDO AND FOR TOMORROW AND MISWATSON COLEMAN OF NEW JERSEY FOR TODAY.

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                          • 05:31:47 PM

                            THE SPEAKER PRO TEMPORE

                            WITHOUT OBJECTION. THE REQUESTS ARE GRANTED. UNDER THE SPEAKER'S ANNOUNCED…

                            WITHOUT OBJECTION. THE REQUESTS ARE GRANTED. UNDER THE SPEAKER'S ANNOUNCED POLICY OF JANUARY 3, 2017, THE GENTLEMAN FROM FLORIDA, MR. RUTHERFORD IS RECOGNIZED AS THE DESIGNEE OF THE MAJORITY LEADER.

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                          • 05:32:17 PM

                            MR. RUTHERFORD

                            I RECOGNIZE WILLIAM WILLIAM JOHN TONCHINGA TO RECOGNIZE HIS BIRTHDAY. BORN…

                            I RECOGNIZE WILLIAM WILLIAM JOHN TONCHINGA TO RECOGNIZE HIS BIRTHDAY. BORN IN DOVER, NEW JERSEY, WILLIAM SPENT HIS YEARS IN NEW JERSEY DEVELOPING A LOVE OF MUSIC. THIS RESULTED IN HIM BECOMING A MUSIC TEACHER UNTIL HE WAS DRAFTED IN THE UNITED STATES ARMY ON JULY 11, 1941. HE LEFT A SUCCESSFUL JOB TEACHING IN NEW JERSEY TO DEFEND OUR GREAT NATION. AND AFTER COMPLETING HIS RADIO OPERATIONS TRAINING AS FORT DIX AND FORT BRAGG AND HE WAS SERVED AS A TECHNICAL SERGEANT LEADING A GROUP OF EIGHT MEN WHO WERE TRAINED AS RADIO OPERATORS. HIS TEAM WAS RESPONSIBLE FOR CODE RECEIVING AND TRANSMITTING FROM THE FIELD AS WELL AS IN COMMAND VEHICLES. THIS GROUP WAS PART OF THE FIRST AMERICAN ARMY PERSONNEL TO BE SENT IN THE EUROPEAN THEATER OF OPERATIONS. AFTER 22 MONTHS IN ICELAND, HE WAS SENT TO ENGLAND TO BE PART OF THE INVASION FORCE ON D-DAY AND DROPPED ON THE UTAH BEACH ON JUNE 6, 1944 AND BRAVELY FOUGHT THROUGH THE ENTIRE CAMPAIGN OF EUROPE INCLUDING THE BOTTOM BARREDMENT. HE AND HIS FELLOW SOLDIERS LATER SERVED AT THE BATTLE OF THE BULGE AND COUNTING HIS MEMORABLE TIMES IN THE ARMY, MR. TORCHING AVE WILL TALK ABOUT HIS TIME IN EUROPE AFTER D-DAY AND TOLD ME WHERE HE WITNESSED AMERICAN FIGHTER PILOTS AND TIME SERVED IN JOINT FORCE WITH THE RUSSIANS AT THE RIVER ELB. HE WAS DISCHARGED AFTER 3 1/2 YEARS ON JUNE 22, 1945. AFTER HIS YEARS OF SERVICE, MR. TONCHINGA WENT BACK TO HIS PASSION OF TEACHING MUSIC. HE STARTED INSTRUMENTAL MUSIC PROGRAM IN THE RICHFIELD SCHOOL SYSTEM OF NEW JERSEY. AND DURING THOSE YEARS OF MUSIC EDUCATION, MR. TONCHINGAVE OBTAINED HIS MASTERS' DEGREE IN N.Y.U. AND WHILE HE WAS AT N.Y.U., YOU PLEAD VIAL LYNN IN THE ORCHESTRA AND AT 100 YEARS OLD, HIS TALENTS ARE IMPRESSIVE. AT HIS RECENT BIRTHDAY CELEBRATION, HE PLAYED THE COLLAR NET, VIAL LYNN AND PIANO AND SANG FOR HIS FAMILY AND FRIENDS. I SALUTE HIM ON HIS YEARS OF FAITHFUL SERVICE TO OUR COUNTRY AND THE PUBLIC SCHOOL SYSTEM. HE EXEMPLIFIED QUALITIES OF A TRUE AMERICAN HERO AND I ADMIRE HIS SERVICE AND SACRIFICE. MR. SPEAKER, TODAY, I RISE TO CONGRATULATE THE HARDWORKING MEN AND WOMEN OF THE JEWISH COMMUNITY ALLIANCE ON THE CELEBRATION OF THEIR 30TH ANNIVERSARY OF ENRICHING THE LIVES OF THOSE WITH A VARIETY OF NEEDS. THE J.C.A. IS A PILLAR IN OUR JOHN KERRY SONVILLE COMMUNITY. THE JEWISH COMMUNITY ALLIANCE IS A NONPROFIT COMMUNITY CENTER AFFILIATED WITH THE JACKSONVILLE JEWISH FEDERATION, THE UNITED WAY OF NORTHEAST FLORIDA AND THE JEWISH COMMUNITY CENTERS OF NORTH AMERICA. ITS FOCUS IS TO ENHANCE THE LIFE OF RELIGIONS, RACES, FINANCIAL MEANS AND PHYSICAL AND MENTAL ABILITIES. TO THIS END, THE J.C.A. HAS IMPACTED TENS OF THOUSANDS OF SENT SENSE IN OUR COMMUNITY. SITUATED ON THE CAMPUS, J.C.A. WELCOMES PRE-SCHOOL-AGED CHILDREN TO GET A GOOD START IN LIFE AND EMBRACES TEENS AND YOUTH ON A VARIETY OF SUBJECTS. THE J.C.A. IS A SPIRIT OF INTERGENERATIONAL SHARING OF VALUES AND IDEAS. THE AFTER-SCHOOL AND SCHOOL-CLOSED DAY PROGRAMS GIVE PEACE OF MIND TO WORKING PARENTS BOTH MARRIED AND SINGLE. SENIORS AND ADULTS WITH SPECIAL NEEDS ARE OFFERED OPPORTUNITIES TO REACH THEIR POTENTIAL WITH DIGNITY AND TRADITION. THE J.C.A. FACILITY OFFERS SWIMMING, THEATER AND CAMP PROGRAMS AND FITNESS AND ART AND ACADEMIC CLASSES TO ALL MEMBERS AND WELCOMES ALL FOR MEMBERSHIP. J.C.A. OFFERS AN ARRAY OF CREATIVE CLASSES, PROGRAMS AND EVENTS TO INSPIRE AND BENEFIT ITS PARTICIPANTS. I ASK YOU AND MEMBERS OF THE HOUSE TO JOIN ME IN ACKNOWLEDGING THE 30TH ANNIVERSARY OF THE JEWISH COMMUNITY ALLIANCE AND ITS COMMITMENT TO OUR COMMUNITY. AND MR. SPEAKER, I YIELD BACK.

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                          • 05:38:14 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 3, 2017, THE GENTLEMAN FROM NEBRASKA, MR. FORTENBERRY IS RECOGNIZED AS THE DESIGNEE FOR THE REMAINDER.

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                          • 05:38:32 PM

                            MR. FORTENBERRY

                            THERE WAS A TELEVISION COMMERCIAL THAT PLAYED QUITE FREQUENTLY AND MAY…

                            THERE WAS A TELEVISION COMMERCIAL THAT PLAYED QUITE FREQUENTLY AND MAY STILL BE ON, BUT IT SHOWS A SHELTER FOR THE POOR AND HOMELESS AROUND CHRISTMASTIME AND MEN AND WOMEN ARE GATHERING UNDER BRIGHT LIGHTS AND THEY ARE CLEARLY BENEFITING FROM THE HOLIDAY OUTPOURING OF CHARITY AND COMPASSION AND FELLOWSHIP. BUT THEN THE COMMERCIAL SHIFTS AND THE ENVIRONMENT CHANGES. IT'S A DREARY DOWNTRODDEN AFFAIR AT THIS POINT. THE NEW YEAR HAS BEGUN AND THE SHELTER IS LESS FULL AND FORMER AMBIENT LIGHT AND LAUGHTERVILLE DIMMED INTO SOMBER TONES. WHILE ALL THE WHILE, A MAN IS SITTING AT THE PIANO IN THIS EMPTYYING PLACE SINGING "DON'T YOU FORGET ABOUT ME." YOU SEE -- THE SCENE CONCLUDES THE SEASON ENDS BUT THE NEED RE MAINS. AS OUR ECONOMY BEGINS TO RECHARGE GIVING MORE AND MORE HOPE, WITH MORE AND MORE AMERICANS IMAGINING JOBS, IT IS IMPORTANT, THOUGH, TO CONTINUE TO REFLECT ON THIS STILL EARLY STAGE OF THE NEW YEAR AFTER IMPORTANT BUDGET BATTLES HERE AND IMPORTANT PIECES OF LEGISLATION, IT'S IMPORTANT TO REFLECT ON THE PROPER BALANCE BETWEEN RESPONSIBILITY AND CHARITY AS WELL AS THOSE WHO CONTINUE TO BE LEFT BEHIND OR FORGOTTEN. AMERICANS ARE THE MOST GENEROUS PEOPLE IN THE WORLD. AND WE ALSO DEEPLY VALUE RESPONSIBILITY. AND WE KNOW THAT A FULFILLED LIFE REQUIRES REWARDING WORK. UNFORTUNATELY, UNEMPLOYMENT AND UNDEREMPLOYMENT CONTINUE TO HINDER A FASTER ECONOMIC RECOVERY CAUSING MUCH ANXIETY FOR PERSONS AND THEIR FAMILIES. ACCORDING TO A NEW SURVAY FROM CAREER BUILDER, EIGHT OUT OF 10 PEOPLE SAY THEY ARE LIVING FROM PAYCHECK TO PAYCHECK. AND THIS SHOULD NOT OBSCURE THIS DIFFICULT REALITY. SO TO BETTER HELP PERSONS HELP ONE ANOTHER IN THE FULL DIGNITY OF WORK, OUR NEXT PHASE OF ECONOMIC REGENERATION MUST BE AN ATTEMPT TO FIND THE PROPER BALANCE BETWEEN RIGHT-SIZED GOVERNMENT, RESPONSIBILITY TO ONE ANOTHER AND REASONABLE EXPECTATIONS THAT EVERYONE CAN CONTRIBUTE SOMETHING, ACCORDING TO THEIR MEANS AND THEIR CAPACITY. EVERYONE HAS SOMETHING TO GIVE. AS THIS RECOGNITION AND ECONOMIC RE-GENERATION REKINDLES, SEVERAL GUIDE POFTS SHOULD BE KEPT IN MIND AND THE ARASHEURE OF WHAT I CALL ENTREPRENEURIAL IMPEDIMENTS AND ADDRESS AND AMEND A DEEP SOCIETAL SENSE OF BREAUX KENNESS. WHEN PERSONS ARE UNEMPLOYED OR UNDEREMPLOYED, THEY COULD ENTER A DOWNWARD SPIRAL IN THEIR LIVES. MR. SPEAKER, AS WE WELL KNOW, WASHINGTON ALONE CANNOT CREATE A HUMANE ECONOMY THAT WORKS FOR THE MANY. AMERICANS WORKING TOGETHER FORM THE CORNSTONE OF A VIBRANT MARKET. THE FULLER ANSWER TO UNEMPLOYMENT AND UNDEREMPLOYMENT AND LACK OF FINANCIAL ASSETS ALONG WITH THE RESULTING LOSS OF SOCIAL CAPITAL MIGHT BE FOUND IN THE IDEA THAT SOCIETY AND GOVERNMENT SEEING WORK AS AR COMMON ENDEAVOR FOR US ALL. AFTER ALL, ECONOMICS IN ITS ESSENCE IS NOT JUST A TRANSACTION BUT PROFOUNDLY RELATIONAL. THE PROFOUND MEANING OF WORK ALSO REQUIRES THE RIGHT WORDS, THE OVERRELINES IN THIS BODY PARTICULARLY ON DEPERSONALIZING ECONOMIC LANGUAGE IS ONE REASON THAT WASHINGTON CAN SEEM SO DISCONNECTED AND ALOOF FROM REAL COMMUNITIES AND REAL PEOPLE. AT THE END OF THE MONTH, IF A PERSON CAN'T PA PASS THEIR GAS BILL, THEY ARE UNLIKELY TO CARE FOR D.G.P. GROWTH. RECENT NEWS CYCLES ARE TRACKING THE STOCK MARKET VALUATIONS WITH UPS AND DOWNS AS OF LATE AND THIS IS EXCEEDED MOST EXPECTATION BUT DEMROGE GREEN NUMBERS AND SIGNALS PROVIDE LITTLE REASSURANCE TO MILLIONS OF AMERICANS WHO WERE PRICED OUT OF OWNING STOCK. ULTIMATELY, MR. SPEAKER, A LACK OF WORK AS WELL AS A LACK OF ASSURANCE IN THE SECURITY OF GOVERNMENT GUARDRAILS AND EARNED BENEFITS CAN TAKE THE LIFE OF A DIMINISHING TOLL. I HAVE SENIORS WHO WRITE TO ME AND SUGGEST TO US IN PRETTY CLEAR TERMS THAT THEY AREN'T ENTITLED TO THEIR OWN MONEY, THROW THE LANGUAGE AROUND OF ENTITLEMENTS REFERRING TO PROGRAMS THAT WOMEN SET ASIDE TO MONEY. OR GIVEN A GUARANTEE. IT'S NOT AN ENTITLEMENT BUT SOMETHING PEOPLE WORKED FOR. BOTH DIGNITY AND EARNED BENEFITS, SOMETIMES ARE THOSE WHO ARE FORGOTTEN. I APPROACH MY DOOR, RECENTLY MR. SPEAKER, HERE AT MY OFFICE AND THERE WAS A LARGE CROWD OF MEN WHO GATHERED AND IN CAMOFLAUGE T-SHIRTS WAITING OUTSIDE. AND WE HAVE EXPERIENCED A NUMBER OF VISITORS FROM OUR HOME STATE. AND IN MY OFFICE, THEY HAVE TO STACK UP. AS I GOT CLOSER, THE FRONT OF THESE T-SHIRTS THESE MEN HAD ON, READ UNITED MINE WORKERS AND I THOUGHT THAT WAS UNUSUAL TO SEE THEM WEARING UNITED MINE WORKER T-SHIRTS BUT THEY WERE WAITING FOR MY NEIGHBOR WHO IS FROM THE STATE OF KENTUCKY. WE BEGAN A MEANINGFUL CONVERSATION ABOUT WORK AND SECURITY AND FAIRNESS. . MEN WHO SPENT THEIR LIVES IN HARD JOBS AND I'M SURE THEY TOILED VERY PROUDLY TO MAKE A REASONABLE LIVING FOR THEIR FAMILIES. BUT THEY ALL NOW SHOWED REAL SIGNS OF PHYSICAL FATIGUE. AND THEY WERE IN WASHINGTON MAKING A PLEA FOR THEIR PENSIONS WHICH ARE FACING DRAMATIC REDUCTIONS. A SIMILAR SITUATION DOES EXIST IN NEBRASKA FOR ANOTHER GROUP OF WORKERS. THESE PERSONS WORK FOR A GUARANTEE THAT THEY WOULD BE PROVIDED FOR WHEN THEY COULD WORK NO MORE, BUT GIVEN A CONFLUENCE OF FACTORS, THEIR PENSION TOOK A DRAMATIC SHORTFALL AND, FRANKLY, IT'S NOT FAIR. I LIVED FOR SEVERAL YEARS AS A YOUNGER MAN IN THE AREA WHERE THESE GENTLEMEN HAD COME FROM, IN A TOWN THAT HAD LOST HALF OF ITS POPULATION IN 20 YEARS, IN THE OLD -- WHAT'S CALLED THE OLD INDUSTRIAL RUST BELT WHERE THE POST-WORLD WAR II ECONOMIC BOOM HAD BUILT A THRIVING, STABLE COMMUNITY, BUT NOW WERE GLOBALIZED SUPPLY SIDE THEORY HAD ITS MOST DRAMATIC, DEGENERATING ECONOMIC EFFECT. AND I SAID TO ONE OF THESE MEN, YOU KNOW THAT I KNOW WHERE YOU COME FROM. AND WE HUGGED. MR. SPEAKER, OUR COUNTRY IS IN PAIN. EPIC HURRICANES AND FLOODS, ESCALATING URBAN VIOLENCE AND OPIOID EPIDEMIC, THOSE SELF-MEDICATING BECAUSE OF THEIR MENTAL, PHYSICAL, FINANCIAL ANGUISH. COMBINE THIS WITH THE LINGERING EFFECTS OF BAITERLY FOUGHT LAST ELECTORAL SEASON HAS TORN AT AMERICA'S HEART. IN A VIBRANTLY HEALTHY SOCIETY, THOUGH, THERE SHOULD BE SPACE FOR WHAT I CALL MARKETPLACE FLUIDITY AND CREATIVITY AND INNOVATION. A PERSON WHO HAS AN IDEA AND THE DRIVE SHOULD BE ABLE TO PURSUE IT. THE BENEFITS ACCRUE, OF COURSE, TO THIS PERSON AS THE INVENTOR BUT ALSO THE BUYER OF THOSE SERVICES, THE COMMUNITY, AND THOSE WHO GAVE THE EFFORT IN THE BUILDING OF THIS PRODUCT OR SERVICE. SO A HEALTHY ECONOMY IS TWO THINGS AT ONCE. IT'S INDIVIDUALISTIC AND IT'S COMMUNITY-ORIENTED AT THE SAME TIME. INNOVATION AND COMPETITION CAN BE DISRUPTIVE BUT THEY MUST BE SET WITHIN A FAIR SET OF RULES. WHEN A SYSTEM STACKS TO THE WEALTHIEST OR IS OUTSOURCED BY FACELESS CORPORATIONS IN THE NAME OF ADVANCING QUARTERLY PROFITS, EXPLOITING THE POOR ELSEWHERE AND DAMAGING THE ENVIRONMENT ELSEWHERE WHERE THERE IS A LAX LEGAL FOUNDATION AND THEREFORE AN INDIRECT SUBSIDY TO -- THE COSTS ARE BORNE BY PERSONS ELSEWHERE IN THE FORM OF SHORTER LIVES AND THE EFFECTS OF POLLUTION, IT SETS IN MOTION NOT ONLY DIFFICULTIES IN OTHER PLACES BUT HERE A LOSS OF JOBS, LOSS OF COMMUNITY COHESION AND BREAKDOWN OF LIFE'S STABILITY. AND TIE THIS TO THE LOSS OF THE FORMATIVE INSTITUTIONS OF FAMILY LIFE AND FAITH LIFE AND CIVIC LIFE AND WE DRIFT. WE DRIFT. WE DRIFT WITHOUT A NATIONAL NARRATIVE. MAKE IT MUCH MORE DIFFICULT TO RESPOND WHOLISTICALLY IN THE MIDST OF TRAGEDY TO OUR GREATER CHALLENGES AND PROBLEMS. FOR A MOMENT I WANT TO SPEAK ABOUT A PERSON WHO PARTICIPATED IN ONE OF MY TELEPHONE TOWN HALLS WHO SHE TOLD ME SHE'S AN ARCHITECT AND HER HUSBAND'S AN ARCHITECT AND THEY WERE VERY INTERESTED IN STARTING AN ARCHITECTURAL FIRM ON THEIR OWN BUT THEY CAN'T. WHY CAN'T THEY? THEY HAVE THE EDUCATION. THEY HAVE THE DRIVE. THEY WANT TO BE INNOVATIVE AND DISRUPTIVE. THEY WANT TO DO CREATIVE WORK WITH THEIR OWN TWO HANDS AND TAKE THE RISKS NECESSARY TO PROVIDE SOMETHING NEW, NOFBLE IN THE MARKETPLACE. -- NOVEL IN THE MARKETPLACE. THEY HAVE A SICK CHILD. SO BY THE TIME THEY GO ONTO THE INDIVIDUAL INSURANCE MARKET AND TRY TO OBTAIN INSURANCE FOR THEMSELVES, KNOWING THEY'RE GOING TO HAVE TO PAY THE FULL DEDUCTIBLES AND CO-PAYS, THAT BILL -- THIS WAS A LITTLE WHILE BACK. I SUSPECT IT'S HIGHER NOW. THE BILL WAS GOING TO BE CLOSE TO $30,000. BEFORE THEY EVEN OPEN THEIR DOOR THEY HAVE AN UPFRONT COST OF $30,000 JUST FOR A LITTLE BIT OF PERSONAL PROTECTION. SO WHAT HAPPENS? THEY STAY PUT. THEY'RE TETHERED TO INSTITUTIONS THAT MAY NOT BE AS GRATIFYING TO THEM. SOCIETY LOSES FROM THEIR INABILITY TO TAKE THAT RISK AND PROVIDE THAT PRODUCT OUT IN THE MARKET. BECAUSE THEY'RE TETHERED. THEY'RE HANDCUFFED TO A BENEFIT CALLED HEALTH CARE THAT A LARGE INSTITUTION CAN PROVIDE BUT A SMALL ENTREPRENEUR CAN'T. THIS MAKES NO SENSE. WE HAVE SOME SPECIFIC IDEAS ON THIS AND WE'RE WORKING TO GROW A BIPARTISAN WORKING GROUP TO MAKE PROPER CHANGES POTENTIALLY IN THAT INDIVIDUAL INSURANCE MARKET WHEREBY PEOPLE CAN POOL TOGETHER MORE EASILY, WHERE THERE IS A BETTER TYPE OF MAJOR MEDICAL PRODUCT OUT THERE THAT WOULD BE A LOT LESS EXPENSIVE. AND PERHAPS USING AN IDEA THAT WAS EMBEDDED IN THE HEALTH CARE DEBATE EARLIER THIS YEAR WHERE THE GOVERNMENT PROVIDES A STABILIZING REINSURANCE MODEL SO THE MARKET CAN ACTUALLY WORK WITHIN A CERTAIN BANDWIDTH BUT THE SICKEST PERSON PAYS THE SAME RATE BUT IS PROTECTED FROM EXCESS EXPENSE BY A MORE GOVERNMENT SUBSIDY. JUST MAKES SENSE. THINK ABOUT THE ENTREPRENEURIAL POTENTIAL THAT THEN WOULD BE RELEASED, CREATING OPPORTUNITY, MORE JOBS, BETTER PRODUCTS. WE'RE CONSTRAINING OURSELVES FOR NO REASON HERE. I HOPE THAT THIS CHAPTER WITH UNFOLD IN THE COMING WEEKS. SOME PEOPLE OF GOOD WILL ARE TRYING TO WORK THROUGH THIS AND THERE IS SIGNIFICANT FEEL, I FEEL, ON BOTH SIDES OF THE AISLE. WE HAVE TO BREAK THROUGH IT. MR. SPEAKER, WE ALSO, FROM MY PERSPECTIVE, LIVING IN A PARADOXICAL AGE WHERE WE ARE MORE DEPENDENT ON BIG BUSINESS FOR INFORMATION FLOW AND CONSUMER GOODS AND AT THE SAME TIME WE ARE A -- MORE AND MORE SKEPTICAL OF THIS MODEL. I WAS TRAINED IN AN ERA WHERE ECONOMIC LANGUAGE WAS CAST IN TERMS OF EFFICIENCY AND OPTIMISMIZATION, INPUTS, THE FREE FLOW OF CAPITAL AND LABOR AND ON AND ON, ALL THE VOCABULARY OF ECONOMIC ACADEMIC THEORY. THESE ARE ANALYTICAL AND MECHANICAL TERMS NECESSARY FOR UNDERSTANDING MARKET FUNCTION. BUT THEY LACK A CONNECTION TO ANY DEEPER PURPOSE. AND ULTIMATELY A PROPERLY FUNCTIONING MARKET IS A CONNECTOR OF COMMUNITY, A DELIVERY MECHANISM FOR MATERIAL WELL-BEING AND AN OPPORTUNITY ENHANCER FOR INDIVIDUAL INITIATIVES AND REWARDING WORK. THESE CLASSICAL ECONOMIC EXPRESSIONS LACK A DEEPER UNDERSTANDING OF THE ULTIMATE PURPOSE OF PRODUCTION. I ONCE ASKED A PROFESSOR WHEN I WAS YOUNG, WHO DOES ENORMATIVE ANALYSIS? WHO ASKS THE QUESTION, WHAT OUGHT TO BE? WHAT INSTITUTION IS DOING THAT? HE SAID, NO ONE. MR. SPEAKER, YOU'RE A FAIRLY YOUNG MAN. YOU KNOW THIS AS WELL. WE ARE LONG PAST THE AGE WHEN WORKING ONE'S ENTIRE CAREER IN THE SAME LARGE CORPORATION GUARANTEED SECURITY AND WELL-BEING. IT'S FINISHED. THE CURRENT CORPORATE CONSTRUCT IS DESPERATELY DRIVEN AND HOPELESSLY FRAGMENTED BY QUARTERLY PROFIT MANDATES, SHORT-TERM DECISIONS OVERRULE LONG-TERM STRATEGY. AND WHILE THIS IS OCCASIONALLY BROUGHT TO HEEL BY A SCANDAL AND MALFEASANCE, MOST MULTINATIONALS ARE NO LONGER TETHERED TO A FACE OR SPACE SO THEY PITCH US ON TV AND PRINT IMAGES WITH CARING IMAGES AND KINDLY DEEM US WORTHY TO HELP WITH THEIR CHOSEN CAUSES AND THEN MAJOR CITIES WITH MAJOR AIRPORTS BECOME THE HUB AND THE REST OF US HAVE TO JUST BUY IT. NOW, LES I SOUND TOO CRITICAL -- LEST I SOUND TOO CRITICAL, THEY PROVIDE A CERTAIN SPACE FOR PRODUCING INDUSTRIAL GOODS AND LARGE-SCALE PRODUCTS AND CAN PROVIDE EXCITING OPPORTUNITY. THAT'S ALL TRUE. AND NECESSARY. BUT I ALSO THINK WE'RE ON THE FRONT END OF SOMETHING, MR. SPEAKER. THERE'S A HUNGER FOR THE NEXT ECONOMIC TREND TO REORIENT AROUND THE REVITALIZATION OF MAIN STREET INCLUDING LOCAL FOODS, SUSTAINABLE ENERGY PRODUCTION, SMARTER SERVICES AND SMALLER SCALE MANUFACTURING. RE-CREATING THAT LONG LOSS SENSE OF PLACE IN OUR COMMUNITIES. IMAGINE A NEW URBANISM OF AN ECONOMIC ECOSYSTEM WITH FRIENDLY NEIGHBORHOODS, NEARBY CENTERS OF SMALLER SCALE, MICRO BUSINESSES, CONTEXTUALLY APPROPRIATE ARCHITECTURE AND EASILY ACCESSIBLE PUBLIC PLACE. WE SEE THIS TREND DEVELOPING AND FRANKLY IT'S VERY EXCITING. NOW, WE HAD A BILL RECENTLY IN WHICH WE TOOK AN IMPORTANT VOTE HERE ON TAX REFORM. I BELIEVE THIS IS GOING TO HELP. I BELIEVE THAT TAX REFORM LEGISLATION WILL HELP REBALANCE A NUMBER OF BUSINESS INEQUITIES, PARTICULARLY FOR SMALL BUSINESS, WHERE MOST JOBS COME FROM. ESTIMATED AN AVERAGE NEBRASKA FAMILY OF FOUR WILL RECEIVE ABOUT A $2,000 -- MORE THAN $2,000 EXTRA BENEFIT IN THEIR POCKET FROM THE IMMEDIATE IMPACT OF THE TAX BILL AND THE REHE LEAF THAT THEY'LL GET. OVER TIME, DUE TO INCREASED WAGES, THAT WILL TRANSLATE INTO ABOUT A $4,000 BENEFIT. I THINK THIS IS IMPORTANT BECAUSE AMERICANS NEED A BREAK. ESPECIALLY WORKING MEN AND WOMEN TRYING TO GET A BIT AHEAD AND TRYING TO PROVIDE FOR THEIR FAMILY WELL. FOR MANY IT'S ALSO HARDER AND HARDER HE. AS WE SAID, MANY AMERICANS ARE LIVING PAYCHECK TO PAYCHECK. THAT'S NOT FULLY A TAX CODE PROBLEM. IT'S THE HARSH REALITY OF SOCIAL FRAGMENTATION, DOWNWARD MOBILITY AND THE RISING COST OF LIVING AND SKYROCKETING INCOME DISPARITY DRIVEN BY INEQUITABLE GLOBALIZATION AND CONCENTRATION OF ECONOMIC POWER. THESE FORCES HAVE NOT FUNDAMENTALLY BENEFITED US FULLY, AND THEY'VE LEFT MILLIONS OF PEOPLE BEHIND. BUT I THINK THIS TAX REFORM MEASURE WAS IMPORTANT BECAUSE IT REBALANCES, PARTICULARLY REBALANCES THE INCENTIVE TO OFF-SHORE. IN ADDITION TO PUTTING MORE MONEY IN THE POCKETS OF HARDWORKING AMERICANS, IT DOES SUPPORT THE REVITALIZATION OF MAIN STREET AND THE RETURN OF THE MADE IN AMERICA LABEL. THIS LEGISLATION ALSO PROVIDES A REASONED PROGRESS -- PROVIDED A REASONED PROGRESS IN THE ATTEMPT TO MAKE THE TAX CODE SIMPLER AND FAIRER AND TO RESOLVE THIS CONVOLUTED SET OF PROBLEMS THAT OVERBURDENED FAMILIES AND PERSONS AND SMALL BUSINESSES ACROSS THE NATION. I THINK THIS IS IMPORTANT BECAUSE WE'RE LIVING IN AN AGE WHERE WE CAN'T KEEP PUSHING THE SAME POLICIES OVER AND OVER AND EXPECT THEM TO FIT INTO A 21ST CENTURY ARCHITECTURE OF WELL-BEING AND SUCCESSFUL LIVING. MOVING FORWARD, I BELIEVE, THE SOURCE AND STRENGTH OF THE AMERICAN ECONOMY WILL BE IN THIS NEW URBANISM OF SMALL BUSINESS IN WHICH ENTREPRENEURS FROM VILLAGE TO CITY ADD VALUE THROUGH SMALL-SCALE MANUFACTURING, INNOVATIVE NEW PRODUCTS, OR BROKERING IN REPAIR SERVICES. NOW, WE DO ANTICIPATE A SPIKE IN THE INITIAL DEFICIT FROM THE TAX BILL, BUT WE'RE ALREADY SEEING A SURGE OF REVITALIZATION AND POSSIBILITY OF ECONOMIC OPPORTUNITY. AND GIVEN THIS REORIENTATION OF THE TAX POLICY AROUND THE FAMILY, HOPEFULLY WITH THE ENTREPRENEURIAL MOMENTUM WILL GENERATE MORE JOBS, EARNINGS, AND REVERSE THIS DOWNWARD TREND IN SMALL BUSINESS FORMATION. LESS TAX, MORE TAXPAYERS, MORE REVENUE OVER TIME, THAT'S THE CALCULATION. AND AS MORE OPPORTUNITY APPEARS, MORE PERSONS SHOULD ALSO BE ABLE TO TRANSITION FROM IMPORTANT SUPPORT MECHANISMS AND SYSTEMS INTO MEANINGFUL WORK. NOW THIS TAX REFORM ATTEMPTS TO BE SENSITIVE TO THE NEEDS OF ALL AMERICANS, AS IT BEGINS TO PUSH FOR A MODERNIZED REVENUE CONSTRUCT THAT NO LONGER ENABLES THE COMPLEX LAWYERED-UP QUARTERLY-DRIVEN MULTINATIONALS TO UNJUSTLY BENEFIT FROM LOW TAXES ABROAD, WHILE TAKING ADVANTAGES OF TAX LOOPHOLES HERE. IT REBALANCES THE PERVERSE INCENTIVES TO OFFSHORE. AT THE SAME TIME, IT USES THE LOWER CORPORATE RATES TO BRING FOREIGN PROFITS BACK TO AMERICA AND WE'RE ALREADY SEEING THE EFFECT. SO, ON BALANCE, THIS WAS A MASSIVE HISTORIC AND NECESSARY OVERHAUL OF OUR ANTIQUATED, HARSH AND COMPLICATED TAX SYSTEM. SO THE FAMILIES CANNOT -- CANNOT ONLY GET BY, BUT -- CAN NOT ONLY GET BY, BUT MAYBE THEY CAN START GETTING AHEAD. IF WE CAN COMBINE THIS WITH A SMALL BUSINESS ECOSYSTEM OF REVIVED ENTREPRENEURIAL MOMENTUM, AND A PART OF THAT IS THE NEXT SET OF POLICIES HOPEFULLY THAT WILL BE EMPOWERING WITH A NEW TYPE OF HEALTH CARE PRODUCT, THAT IS STABLE FOR PERSONS WHO DO WANT TO ENTER INTO THE FORMATION OF THEIR OWN SMALL BUSINESS NOW. BUT ARE NOT EQUIPPED -- NOT EMPOWERED TO DO SO. THIS WILL ONLY STRENGTHEN THIS ENTREPRENEURIAL REVITALIZATION. THERE IS NO WAY TO CALCULATE THE HELD, PENT-UP BENEFIT OF UNLEASHING THIS POTENTIAL. AGAIN, BECAUSE WE'VE TETHERED PEOPLE TO A BENEFIT PACKAGE BASED UPON INSTITUTIONS THAT ARE ABLE TO AFFORD IT, WE'VE DRAINED OURSELVES, MADE OURSELVES WEARY FROM BEING ABLE TOWN LEASH THE FULLNESS OF THE POTENTIAL TO CREATE THINGS WITH YOUR OWN HANDS OR YOUR OWN INTELLECT THAT ARE GOOD FOR YOU, GOOD FOR YOUR FAMILY AND GOOD FOR OTHERS. THAT'S WHAT WE MEAN BY A NEW SMALL BUSINESS ECOSYSTEM THAT HAS REVIVED ENTREPRENEURIAL MOMENTUM. MR. SPEAKER, IN THE MIDDLE EAST THE JORDAN RIVER FLOWS INTO BOTH THE SEA OF GALILEE AND THE DEAD SEA. THERE'S A DIFFERENCE BETWEEN THE TWO BODIES OF SEAS. ONE OF THEM IS DEVOID OF LIFE. WATER FLOWS IN, BUT NOTHING FLOWS OUT. IT'S DEAD. ABUNDANT LIFE REQUIRES BOTH GIVING AND RECEIVING. BOTH CHARITY AND RESPONSIBILITY. AN ECONOMY THAT IS FOUNDED UPON THESE STRENGTHS, WHICH WE'VE DISCUSSED TONIGHT, SUPPORTED BY A RIGHT-SIZED GOVERNMENT AND A DEDICATED, HARDWORKING PEOPLE CAN ONLY KEEP GROWING STRONGER. AND THEN MAYBE, MAYBE WE CAN SAY, DON'T YOU FORGET ABOUT ME. AND THAT WE WILL NEVER FORGET ABOUT YOU. THANK YOU, MR. SPEAKER. I YIELD BACK.

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                          • 06:03:15 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 3, 2017, THE GENTLEMAN FROM TEXAS, MR. GREEN, IS RECOGNIZED FOR 60 MINUTES AS THE DESIGNEE OF THE MINORITY LEADER.

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                          • 06:03:28 PM

                            MR. GREEN

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, I ASK UNANIMOUS CONSENT FOR ALL…

                            THANK YOU, MR. SPEAKER. MR. SPEAKER, I ASK UNANIMOUS CONSENT FOR ALL MEMBERS TO HAVE FIVE DAYS TO REVISE AND EXTEND THEIR REMARKS ON THE SUBJECT OF MY SPECIAL ORDER.

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                          • 06:03:41 PM

                            TEMPORE WITHOUT

                            WITHOUT OBJECTION.

                          • 06:03:42 PM

                            MR. GREEN

                            MR. SPEAKER, THIS IS FEBRUARY 14, VALENTINE'S DAY. AND THIS IS BUT ONE…

                            MR. SPEAKER, THIS IS FEBRUARY 14, VALENTINE'S DAY. AND THIS IS BUT ONE DAY, OF COURSE, IN THE MONTH OF FEBRUARY WHICH IS BLACK HISTORY MONTH. AND I AM HONORED TO STAND HERE TONIGHT TO PRESENT A RESOLUTION THAT WILL BE FILED, A BLACK HISTORY RESOLUTION. BUT I'M GLAD TO SAY A GOOD MANY OF MY COLLEAGUES ARE IN SUPPORT OF BLACK HISTORY MONTH AND THEY DESIRE TO HAVE THEIR WORDS, THEIR EXPRESSIONS, MADE KNOWN. WHICH IS WHY I'VE ASKED FOR THIS UNANIMOUS CONSENT. MY BELIEF IS THAT WE WILL HAVE MANY, MANY PERSONS WHO ARE NOT HERE TONIGHT, FOR LEGITIMATE REASONS, WHO WILL WANT TO MAKE SURE THAT THEY ARE MADE A PART OF THE RECORD BY AND THROUGH THEIR COMMENTS THAT THEY WILL SUBMIT IN WRITTEN WORD. MR. SPEAKER, I'M HERE TO TALK ABOUT BLACK HISTORY BECAUSE FOR MANY YEARS, TOO MANY YEARS, TO BE QUITE HONEST, THE HISTORY OF AFRICANS IN THE AMERICAS, THE HISTORY OF BLACK PEOPLE IN AMERICA, THE HISTORY OF AFRICAN-AMERICANS, AT ONE TIME KNOWN AS NEGROS, THIS HISTORY WAS DELETED FROM THE HISTORY BOOKS. IT WAS SAID IN ONE BOOK THAT BECAUSE LITTLE CONTRIBUTIONS WERE MADE TO WORLD HISTORY, THERE WOULD BE LITTLE MENTION OF AFRICANS IN HISTORY. BUT, MR. SPEAKER, WE KNOW NOW THAT THIS IS NOT TRUE. AND BECAUSE WE KNOW THAT IT IS NOT TRUE, WE SEEK TO AT LEAST GIVE SOME INDICATION IN THE RECORDS THAT AFRICAN-AMERICANS HAVE MADE A SIGNIFICANT CONTRIBUTION IN AMERICA. BUT ALSO THE TRUTH IS THAT AFRICANS HAVE MADE A CONTRIBUTION TO WORLD HISTORY. HOWEVER, TONIGHT THIS RESOLUTION WILL FOCUS ON AND IT WILL RECOGNIZE AND CELEBRATE BLACK HISTORY MONTH. AND IN SO DOING, WE WOULD LIKE TO PRESENT THE RESOLUTION THAT WILL BE FILED AT A LATER TIME. MR. SPEAKER, WHEREAS THE THEME FOR BLACK HISTORY MONTH, 2018, IS AFRICAN-AMERICANS IN TIMES OF WAR. SOMETHING THAT WE HAVE NOT FOCUSED ON TO THE EXTENT THAT WE SHOULD HAVE. BECAUSE AFRICAN-AMERICANS HAVE MADE SIGNIFICANT CONTRIBUTIONS TO OUR COUNTRY DURING TIMES OF WAR. THIS TEAM, WHICH COMMEMORATES THE CENTENNIAL OF THE END OF THE FIRST WORLD WAR IN 1918, AND EXPLORES THE COMPLEX MEANINGS AND IMPLICATIONS OF THIS INTERNATIONAL STRUGGLE AND ITS AFTERMATH. WHEREAS THIS RESOLUTION WILL FOCUS PRIMARILY ON AFRICAN-AMERICANS IN THE MILITARY, WHICH IS BUT ONE HISTORICALLY IMPORTANT ASPECT OF THIS FAR-REACHING EXPLORATION OF AFRICAN-AMERICAN HISTORY. WHEREAS AFRICAN-AMERICANS HAVE FOUGHT FOR THE UNITED STATES THROUGHOUT ITS HISTORY. WHEREAS DESPITE RACIAL SEGREGATION AND DISCRIMINATION, AFRICAN-AMERICANS HAVE PLAYED A SIGNIFICANT ROLE DURING TIMES OF WAR, FROM THE COLONIAL PERIOD FORWARD. AND, MR. SPEAKER, IT'S INTERESTING TO NOTE, AS AN ASIDE NOW, THAT IT WAS NOT UNTIL 1948, BY PRESIDENTIAL EXECUTIVE ORDER, THAT TRUMAN, PRESIDENT TRUMAN, DESEGREGATED THE MILITARY. CONTINUING. WHEREAS A FUGITIVE SLAVE WORKING OUTSIDE OF BOSTON, MASSACHUSETTS, AS A SAILOR AND DURING THIS TIME, HIS TIME OFF, HE WORKED AS A ROPE MAKER NEAR THE WHARF. WHEREAS IN EARLY 1770, COMPETITION FOR WORK AND WAGES BECAME STIFF, AS BRITISH SOLDIERS WERE CONTENDING FOR THE SAME UNSKILLED POSITION AS THE LOCALS. THAT WOULD BE HIM AND OTHER LOCATES -- LOCALS. WHEREAS THIS SITUATION CREATED TENSION WHICH SLOWLY ESCALATED TO VIOLENT CONFRONTATIONS. WHEREAS ON MARCH 5, 1770, HE LED A GROUP OF ROPE MAKERS AND SAILORS INTO A CONFRONTATION WITH A GROUP OF BRITISH SOLDIERS AND SUBSEQUENTLY WAS SHOT AND KILLED. WHEREAS A BLACK MAN IS GENERALLY CONSIDERED TO BE THE FIRST CASUALTY OF THE REVOLUTIONARY WAR. AND IS REMEMBERED AS THE FIRST OF MANY NOTABLE AFRICAN-AMERICAN HEROES. WHEREAS AMENTIA ROSS WAS BORN INTO SLAVERY IN MARYLAND AND ESCAPED TO FREEDOM IN THE NORTH IN 1849. TO BECOME THE MOST FAMOUS CONDUCTOR ON THE UNDERGROUND RAILROAD. WHEREAS AMENTIA ROSS WAS A LEADING ABOLITIONIST BEFORE THE AMERICAN CIVIL WAR, AND ALSO HELPED THE UNION ARMY DURING WAR. WORKING AS A SPY, AMONG OTHER ROLES. WHEREAS AMENTIA ROSS, A BLACK WOMAN, GUIDE THE CONFEDERATE RIVER RAID, WHICH LIBERATED MORE THAN 700 SLAVES IN SOUTH CAROLINA. WHEREAS AMENTIA ROSS, BETTER KNOWN AS HARRIET TUBMAN, WAS THE FIRST WOMAN TO LEAD AN ARMED EXPEDITION DURING THE CIVIL WAR. WHEREAS POWOTAN BAITY WAS BORN A SLAVE IN RICHMOND, VIRGINIA, IN 1836. WHEREAS WHEN THE CIVIL WAR BROKE OUT, BAITY ENLISTED IN THE UNION ARMY. WHEREAS BAILEY, A BLACK MAN, WAS QUICKLY PROMOTED TO SERGEANT AND OVERSAW 47 OTHER BLACK RECRUITS IN NONCOMBAT JOBS. WHEREAS IN SEPTEMBER OF 1864, BAITY'S DIVISION ATTACKED THE ENEMY AT CATHERINE'S FARM AND -- NEAR RICHMOND, VIRGINIA. WHEREAS WITH ALL OF THE OTHER UNITS'S OFFICERS AND MOST OF ITS -- UNIT'S OFFICERS AND MOST OF ITS ENLISTED MEN DEAD AND WOUNDED, BAITY TOOK OVER AND LED A SECOND CHARGE DURING THE ENEMY -- DRIVING THE ENEMY BACK. WHEREAS FOR HIS HEROISM, BAILEY , A BLACK MAN, WAS AWARDED THE MEDAL OF HONOR. WHEREAS BENJAMIN OLVER DAVIS SR. ENTERED THE MILITARY SERVICE ON JULY 13, 1898. DURING THE SPANISH AMERICAN WAR. AND AS A TEMPORARY FIRST LIEUTENANT OF THE 8TH UNITED STATES VOLUNTEER INFANTRY. WHEREAS ON JUNE 18, 1899, HE ENLISTED AS A PRIVATE IN THE 9TH CAVALRY OF THE REGULAR ARMY. WHEREAS DAVIS EVENTUALLY BECAME -- EXCUSE ME, WHEREAS DAVIS EVENTUALLY CAME UNDER THE COMMAND OF CHARLES YOUNG, WHOM AT THE TIME WAS THE ONLY AFRICAN-AMERICAN OFFICER SERVING IN THE U.S. MILITARY. WHEREAS YOUNG TOOK DAVIS UNDER HIS TUTELAGE AND HELPED HIM TO PREPARE TO TAKE HIS OFFICER CANDIDATE TEST. WHEREAS IN ONLY TWO YEARS HE ROSE TO SERGEANT MAJOR AND EARNED A COMMISSION AS A SECOND LIEUTENANT IN 1901. WHEREAS BENJAMIN OLVER DAVIS, A BLACK MAN, ROSE THROUGH THE RANKS AND BECAME THE FIRST AFRICAN-AMERICAN TO ACHIEVE THE RANK OF BRIGADIER GENERAL IN THE U.S. MILITARY. WHEREAS DURING WORLD WAR I, APPROXIMATELY 800, NO ONE IS SURE OF THE NUMBER, BUT APPROXIMATELY 800 AFRICAN-AMERICANS WERE KILLED IN ACTION. WHEREAS DORI MILLER ENLISTED IN THE U.S. NAVY AS AS ME ATTENDANT, MEANING HE WAS A PERSON WHO SERVED THOSE OTHERS WITH FOOD AND TOOK CARE OF THE CLEANING OF FACILITIES, AND HE SERVED ON THE U.S.S. WEST VIRGINIA. WHEN THE JAPANESE ATTACKED PEARL HARBOR ON DECEMBER 7 OF 1941. WHEREAS MILLER WAS ASSIGNED TO CARRY THE WOUNDED SAILORS TO SAFER QUARTERS. WHEREAS HE RETURNED TO THE DECK AND PICKED UP A 50-CALIBER BROWNING ANTI-AIRCRAFT MACHINE GUN THAT HE HAD NEVER BEEN TRAINED TO USE AND MANAGED TO SHOOT DOWN ENEMY AIRCRAFT. WHEREAS DOERY MILLER, A BLACK MAN -- DORI MILLER, A BLACK MAN, WAS COMMENDED BY SECRETARY OF NAVY AND BECAME THE FIRST AFRICAN-AMERICAN TO BE PRESENTED THE NAVY CROSS. WHEREAS CIVIL RIGHTS ORGANIZATIONS AND BLACK PRESS EXERTED PRESSURE ON PRESIDENT ROOSEVELT WHICH RESULTED IN THE FORMATION OF THE TUSKEGEE AIRMEN BASED IN TUSKEGEE, ALABAMA, IN 1941. WHEREAS BEFORE 1940, AFRICAN-AMERICANS WERE BARRED FROM FLYING FOR THE U.S. MILITARY. WHEREAS THE TUSKEGEE AIRMEN INCLUDED PILOTS, NAVIGATORS, MAINTENANCE AND SUPPORT STAFF, INSTRUCTERS, AS WELL AS THE -- INSTRUCTER -- INSTRUCTORS, AS WELL AS THE PERSONNEL WHO KEPT THE PLANES AND PILOTS IN THE AIR. WHEREAS THE BLACK TUSKEGEE AIRMEN OVERCAME PREJUDICE AND DISCRIMINATION TO BECOME ONE OF THE MOST HIGHLY RESPECTED GROUPS OF WORLD WAR II PILOTS. WHEREAS THE TUSKEGEE AIRMEN ACHIEVED ACHIEVEMENTS -- ACHIEVEMENTS HELPED PAVE THE WAY FOR FULL INTEGRATION -- PAVED THE WAY -- HELPED PAVE THE WAY OF THE FULL INTEGRATION OF THE U.S. MILITARY. WHEREAS CORNELIUS CHARLESTON, A CAREER MILITARY MAN, SERVED IN THE ARMY DURING THE KOREAN WAR. WHEREAS ON JUNE 2, 1951, HIS PLATOON ENCOUNTERED HEAVY RESISTANCE WHILE ATTEMPTING TO TAKE A HILL, HILL 543, AND THE LEADER OF HIS PLATOON WAS WOUNDED. WHEREAS CHARLESTON TOOK COMMAND AND REGROUPED HIS MEN AND LED AN ASSAULT ON THE HILL. WHEREAS HE SINGLE-HANDEDLY ATTACKED AND DISABLED THE LAST REMAINING ENEMY GUN ENCAMPMENTS. WHEREAS HE SUBSEQUENTLY DIED FROM HIS WOUNDS INFLICTED BY A GRENADE. BUT HE IS CREDITED WITH SAVING MUCH OF HIS PLATOON. WHEREAS CORNELIUS CHARLESTON, A BLACK MAN, POSTHUMOUSLY, RECEIVED THE MEDAL OF HONOR FOR HIS ACTIONS NEAR CHIPPEWA, SOUTH KOREA. WHEREAS AFRICAN-AMERICANS LITERALLY FOUGHT FOR THE RIGHT TO DIE IN DEFENSE OF THEIR COUNTRY. WHEREAS IN THE FACE OF INJUSTICES, MANY AFRICAN-AMERICANS DISTINGUISHED THEMSELVES WITH THEIR COMMITMENT TO THE NOBLE IDEALS UPON WHICH THE UNITED STATES WAS FOUNDED AND COURAGEOUSLY FOUGHT FOR THE RIGHTS AND THE FREEDOM OF ALL AMERICANS. . WHEREAS THE PRESERVATION AND TEACHING BLACK HISTORY ARE NATIONALLY RECOGNIZED DUE TO THE EFFORTS OF CARTER G. WOODSON AND HIS ESTABLISHMENT OF NEGRO HISTORY WEEK, THE PRECURSOR OF BLACK HISTORY MONTH. WHEREAS BLACK HISTORY MONTH WHICH REPRESENTS DR. CARTER G. WOODSON'S EFFORTS TO ENHANCE KNOWLEDGE OF BLACK HISTORY, STARTED THROUGH THE "JOURNAL OF NEGRO HISTORY," PUBLISHED BY WOODSON'S ASSOCIATION FOR THE STUDY OF AFRICAN-AMERICAN LIFE AND HISTORY, AND WHEREAS THE MONTH OF FEBRUARY IS OFFICIALLY CELEBRATED AS BLACK HISTORY MONTH, WHICH DATES BACK TO 1926, WHEN DR. CARTER G. WOODSON SET ASIDE A SPECIAL PERIOD OF TIME IN FEBRUARY TO RECOGNIZE THE HERITAGE AND ACHIEVEMENTS OF BLACK AMERICANS. NOW THEREFORE BE IT RESOLVED THAT THE HOUSE OF REPRESENTATIVES, RECOGNIZES THE SIGNIFICANCE OF BLACK HISTORY MONTH AS AN IMPORTANT TIME TO ACKNOWLEDGE AND CELEBRATE THE CONTRIBUTIONS OF AFRICAN-AMERICANS IN THE NATION'S HISTORY AND TO ENCOURAGE THE CONTINUED CELEBRATION OF THIS MONTH TO PROVIDE AN OPPORTUNITY FOR ALL PEOPLES OF THE UNITED STATES, REGARDLESS OF WHERE THEY ARE FROM, TO LEARN MORE ABOUT THE PAST AND TO BETTER UNDERSTAND THE EXPERIENCES THAT HAVE SHAPED THE NATION. WHEREAS THE HOUSE OF REPRESENTATIVES RECOGNIZES THAT ETHNIC AND RACIAL DIVERSITY OF THE UNITED STATES ENRICHES AND STRENGTHENS THE NATION AND ENCOURAGES ALL STATES TO INCLUDE IN THEIR YEAR-ROUND EDUCATIONAL CURRICULUM THE HISTORY AND CONTRIBUTIONS OF AFRICAN-AMERICANS IN THE UNITED STATES AND AROUND THE WORLD. MR. SPEAKER, I AM HONORED TO SAY TO THIS AUDIENCE THAT THIS CONGRESS HAS BEEN VERY RESPONSIVE TO THE NOTION OF CELEBRATING AFRICAN-AMERICAN HISTORY. AND MY HOPE IS THAT ONCE WE ARE BACK IN THE BUSINESS OF APPROVING RESOLUTIONS OF THIS TYPE THAT THIS RESOLUTION WILL BE TAKEN UP BY THE CONGRESS OF THE UNITED STATES OF AMERICA, THAT IT WILL BE VOTED ON, AND THAT IT WILL BE PASSED AND MY HOPE IS THAT THIS WILL BE AN INDICATION TO OUR COUNTRY THAT OUR CONGRESS DOES TRULY APPRECIATE WHAT THE AFRICAN-AMERICANS HAVE DONE TO MAKE AMERICA THE BEAUTIFUL A MORE BEAUTIFUL AMERICA. WITH THAT SAID, I YIELD BACK THE BALANCE OF MY TIME.

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                          • 06:18:10 PM

                            THE SPEAKER PRO TEMPORE

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

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

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                          • 06:20:00 PM

                            MR. GREEN

                            I MOVE THAT THE HOUSE ADJOURN.

                          • 06:20:02 PM

                            THE SPEAKER PRO TEMPORE

                            ADJOURN.

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                          115th Congress - House
                          Total Hours: 1416 (After 591 days)
                          • Debate665 Hours
                          • Special Orders277 Hours
                          • Votes222 Hours
                          • One Minute Speeches115 Hours
                          • Morning Hour103 Hours
                          • Opening Procedures8 Hours

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