E PL UR UM IB N U U S Congressional Record th of America PROCEEDINGS AND DEBATES OF THE 112 CONGRESS, SECOND SESSION

Vol. 158 WASHINGTON, TUESDAY, MARCH 20, 2012 No. 46 House of Representatives The House met at 10 a.m. and was their agents of terror, as we can see in pressed their interest in meeting with called to order by the Speaker pro tem- these photos in this poster right next the Pope during his visit next week but pore (Mr. TIPTON). to me, and they’re operating just 90 have not been able to confirm that f miles from U.S. shores. meeting. But there is an opportunity to cor- A few days ago, 13 members of Cuba’s DESIGNATION OF SPEAKER PRO rect this wrong, to join forces and shed opposition staged a peaceful sit-in at a TEMPORE light on the systematic abuses against in Havana to call at- The SPEAKER pro tempore laid be- freedom-loving Cubans, and to call on tention to their request for Pope Bene- fore the House the following commu- Pope Benedict XVI as he prepares to dict XVI to meet with pro-democracy nication from the Speaker: visit the island gulag to publicly sup- advocates during his visit to the island. WASHINGTON, DC, port the aspirations of the enslaved Reports indicate that Castro agents March 20, 2012. Cuban people to exercise their God- forcibly removed these human rights I hereby appoint the Honorable SCOTT R. given rights. defenders from the church, detained TIPTON to act as Speaker pro tempore on this The Cuban dictatorship has ramped them, and subjected them to severe in- day. up its use of short-term detentions in terrogation. JOHN A. BOEHNER, order to intimidate and silence the It is my hope, Mr. Speaker, that Pope Speaker of the House of Representatives. voices of these brave Cubans; and you Benedict will meet with these brave f see here the Ladies in White, and I will dissidents—as you can see in this new MORNING-HOUR DEBATE explain who they are. They’re standing poster, they were dragged through the up against tyranny and oppression. streets—and shine a light on the strug- The SPEAKER pro tempore. Pursu- The Castro regime has continued its gles of the Cuban people who are living ant to the order of the House of Janu- assault on fundamental freedoms, in- under the rule of the oppressive Castro ary 17, 2012, the Chair will now recog- cluding the and the brothers. nize Members from lists submitted by freedom of speech. The Cuban people I urge the Catholic church to express the majority and minority leaders for are reminded daily that no dissent is its support and solidarity with the in- morning-hour debate. ever allowed as they live under con- ternal peaceful opposition and hear the The Chair will alternate recognition stant threat and surveillance by Cuban voices of the dissidents who are yearn- between the parties, with each party state security forces. Regime sympa- ing for freedom. As you can see here, limited to 1 hour and each Member thizers and security forces have actu- they’re being attacked; they’re dragged other than the majority and minority ally barred opposition leaders from through the streets in Cuba. leaders and the minority whip limited leaving their homes and have violently The passionate struggle of the inter- to 5 minutes each, but in no event shall attacked other peaceful, pro-democ- nal opposition will not be deterred by debate continue beyond 11:50 a.m. racy protesters on the streets. the abuses that are occurring daily at f Just 48 hours ago, the Castro regime the hands of the Castro regime. These detained about 70 members of the recent crackdowns by the regime illus- CRACKDOWN ON CUBAN peaceful Ladies in White movement, trate its fear, its paranoia, its concern DISSIDENTS AND POPE’S VISIT including 18 women who were arrested that the Cuban people are no longer The SPEAKER pro tempore. The in Havana on their way to mass. Berta afraid of the regime and are demanding Chair recognizes the gentlewoman from Soler, an important leader in Ladies in a democratic change on the island. Florida (Ms. ROS-LEHTINEN) for 5 min- White, was detained during the crack- The citizens of Cuba are denied basic utes. down. human rights by the Castro regime, in- Ms. ROS-LEHTINEN. Mr. Speaker, in The Ladies in White, as we can see cluding the freedom of speech, freedom the last year we have witnessed dra- here, they’re a peaceful group, founded of assembly, and due process of law. matic changes in the Middle East and by wives, mothers, and daughters of po- These fundamental freedoms should north Africa. There was vast media litical prisoners who have suffered in not be reserved for the citizens of some coverage detailing the brutality of op- Castro’s gulags. These ladies are advo- countries while denied to those in pressors like Assad in Syria. Yet very cates of freedom; and by silently other nations. little has been said about the esca- marching as they do through the I urge free nations, responsible na- lation of violence against Cuba’s inter- streets, they convey a powerful mes- tions, to condemn the recent action by nal opposition, a peaceful group that is sage of peace and a voice for all the op- the Castro brothers, as shown here, to being attacked by Castro tyrants and pressed. The Ladies in White have ex- speak out against the atrocities that

b This symbol represents the time of day during the House proceedings, e.g., b 1407 is 2:07 p.m. Matter set in this typeface indicates words inserted or appended, rather than spoken, by a Member of the House on the floor.

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VerDate Mar 15 2010 01:44 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00001 Fmt 4634 Sfmt 0634 E:\CR\FM\A20MR7.000 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1394 CONGRESSIONAL RECORD — HOUSE March 20, 2012 are committed daily in Cuba, and to re- to subject such a small group—fewer That lost capacity, which is five affirm unconditional support for the than one-half of 1 percent of all Ameri- times greater than what the EPA pre- Cuban people who seek to break free cans—to such a disproportionate share dicted it would be, is why the North from the shackles of the Castro tyr- of the consequences of war. American Electric Reliability Corpora- anny. I felt this way in 2007 when I sup- tion is warning of blackouts and serv- f ported fellow veteran Charlie Rangel’s ice disruptions. bill, declaring it an obligation of every The EPA’s new coal regulations will THE PRICE OF WAR IN American citizen between the ages of cost the economy $184 billion and 1.4 AFGHANISTAN 18 and 42 to perform a 2-year period of million jobs in mining, transportation, The SPEAKER pro tempore. The national service either as a member of manufacturing, and power generation. Chair recognizes the gentleman from the national forces or in civilian capac- Of course, the expense will be passed Washington (Mr. MCDERMOTT) for 5 ity that promotes national defense in along to consumers. Families in my minutes. times of war. Several weeks ago, my State could see about $400 more a year Mr. MCDERMOTT. Mr. Speaker, I constituent, Sergeant William Stacey, in their electric bills. rise today to ask the American people became the 399th resident from Wash- And it begs the question, is the Presi- to consider the price of the Afghan ington State to be killed since the war dent trying to make good on his prom- war, not only its unsustainable finan- on terror began following 9/11. In his ise to bankrupt utilities that use coal? cial toll, but also the psychological letter, which soldiers write in case These new costs would come at a cost to those on the front lines as well they die, Sergeant Stacey wrote: time when higher oil prices already as those here at home, because this mean families are paying $2,400 more My death did not change the world, but per year for gasoline than they were war, fought on the ground by a tiny there is a greater meaning to it. There will percentage of Americans and largely be a child who will live because men left the just 3 years ago. And if gasoline ap- ignored by the greater majority of us, security they enjoyed in their home country proaches $5 a gallon, the average fam- nonetheless, has had powerful effects to come to his. ily will pay over $3,000 more per year. That’s a couple of months worth of gro- on each one of us. b 1010 In the past 3 months, there have been ceries, or college loans, or payments on several high-profile incidents in Af- If more Americans sacrificed their a new car. ghanistan that have forced us to reflect time and energy toward our country’s Unfortunately, instead of increasing on the mental state of the men and ideals, perhaps Sergeant Stacey’s oil supplies to bring down prices, do- women who put their lives on the line dream of a more peaceful Afghanistan mestic oil production on Federal lands every day in Afghanistan. could become a reality. has fallen 13 percent in the last year. In January, four soldiers in combat As the overwhelming majority of the The President said we have only 2 per- gear urinated on three bloodied Nation stands by while 23-year olds die cent of the world’s proven reserves, corpses. In February, American sol- in a distant war zone, our national psy- conveniently overlooking the tech- diers burned copies of the Koran, which che has been frayed, and our shared nically recoverable oil that is under triggered 6 days of riots across Afghan- identity is diminished. We have become lock and key in the gulf and the shale istan. And this month, a soldier went immune, immune to the traumas of oil States. We have more oil reserves— on a murderous rampage in Kandahar war, and we have lost our sense of com- 800 billion barrels—than Saudi Arabia. By the way, that means for a family province, killing 16 Afghans, including mon purpose. that makes less than $10,000 a year, nine children. These events have In the Vietnam War, when everybody they’ll be spending 81 percent of their shocked us, but they remain remote to served, you had no immunity because income on energy. For a family that most of us. everybody knew somebody, but now makes between $10,000 and $30,000 a I want to talk today about what this it’s not that way. We must face the year, they’ll be spending 24 percent of war has done to our national psyche, true cost of war on not only our sol- diers, but ourselves and our ideals. their income on energy. that is, our sense of connectedness to And for every dollar of gasoline, 76 one another and our sense of mutual f cents is tied up in crude oil. To bring obligation to this country. down the price of gas, we don’t need The war in Afghanistan is being USING USA ENERGY TO MEET OUR NEEDS higher taxes on oil companies or pen- fought primarily by a small group from alties on speculators. What we need to the Army and Marine Corps who serve The SPEAKER pro tempore. The do is send signals to the world that the multiple tours because we do not have Chair recognizes the gentleman from United States is serious about using adequate replacements for them. This Pennsylvania (Mr. MURPHY) for 5 min- North American energy. We can start has allowed most of us to disengage utes. with building the Keystone pipeline. ourselves from the terror, the suffering Mr. MURPHY of Pennsylvania. Mr. Now, many of my colleagues argue and despair endured by those who are Speaker, when GenOn announced it that we can count on plentiful natural sent to war. Retired General Robert would close its coal-fired power plant gas to replace the demand for coal and Scales wrote in in Elrama, in my district in south- oil. But while deposits are being un- last week: ‘‘We are fighting too many western Pennsylvania, my community locked from the Marcellus shale and wars with too few soldiers.’’ He’s right. didn’t just lose the 50 remaining jobs; the Utica shales with new fracturing More than 100,000 of our soldiers have it also lost a vital component to eco- technologies, natural gas is also been deployed three or more times nomic growth: affordable energy. threatened with costly overregulation. since 9/11. Many of them are overused, We should be cleaning up, not shut- Eight different Federal agencies are exhausted, demoralized, and unpre- ting down these power plants, but new there to stop it. The EPA, the Depart- pared to come home to a country that regulations aimed squarely at coal, oil, ments of the Interior, Energy, Trans- has little personal investment in the and natural gas are making it harder portation, and Agriculture, the Centers war and does not fully understand its for families to get by, for manufactur- for Disease Control, the Army Corps of objectives. Is it fair or reasonable to ers to prosper, and making it more dif- Engineers, and the Securities and Ex- send these courageous citizens to war ficult for our country to become energy change Commission are all working on four, five, and six times? independent. new regulatory burdens. I was a doctor who treated combat The Elrama plant is one of 57 nation- One national energy organization soldiers returning from Vietnam, and I wide slated to close because of a mul- predicts an EPA natural gas regulation know that no one escapes multiple titude of costly and unworkable EPA for well sites specifically written to tours of combat duty without trauma. rules set to take effect over the next 5 combat ‘‘global warming’’ will cut There have been almost 100,000 new years. Already utilities are preparing shale gas drilling by between 31 and 52 cases of PTSD among our servicemem- to retire almost 10 percent of coal percent. That means higher energy bers since 9/11. The military suicide power in the country. That’s 25 bills to heat our homes. rate in some months has been higher megawatts of energy that supports 18.8 With our know-how and resources in than the casualty rate. We are wrong million homes. coal, natural gas and nuclear, America

VerDate Mar 15 2010 01:44 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00002 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.002 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1395 can still become an energy-independent never have enough to sufficiently im- oil and drain out every drop of proved Nation. That’s why I introduced an all- pact prices on the world market. reserves, we would have just enough to of-the-above energy plan that wouldn’t The U.S. Energy Information Admin- last us 1,094 days, just 3 years. That raise taxes, borrow from China, or buy istration has said as much, noting that trickle won’t ease gas prices. from OPEC. The Infrastructure Jobs increases in U.S. domestic production Raising average fuel efficiency for and Energy Independence Act, or H.R. could be neutralized by a corresponding cars to 60 miles per gallon by 2025 1861, expands safe offshore oil and gas decrease in production among inter- would reduce gasoline consumption by exploration, creates over a million new national oil producers, namely, OPEC. 2.8 million barrels per day by 2030. A jobs annually, and launches $8 trillion What’s really to blame for high gas combined investment in more efficient in economic output. It dedicates a por- prices? Is it a lack of domestic produc- cars and trucks, cleaner fuels, and tion of its up to $3.7 trillion in new tion of oil? more transportation options for Ameri- Federal oil and gas revenues for invest- Ken Green, a resident scholar with cans could cut our oil imports in half ments in rebuilding our aging infra- the conservative American Enterprise by 2030. The administration is cur- structure, power generation, and grid Institute, doesn’t think so. Ken said: rently developing the next phase of modernization, and helps put us on a The world price is the world price. Even if standards covering vehicles sold path to energy independence. we were producing 100 percent of our oil, we through the model year 2025, a strong And rather than shutting down coal- probably couldn’t produce enough to affect and laudable goal. fired power plants, my bill invests in the world price of oil. We can and must end our dependence the kind of cutting-edge technology Well then, who’s really to blame for on foreign oil, a dependence that en- being developed at the National Energy high gas prices? Is it this administra- dangers our environment, hurts our Technology Laboratory to clean up tion? economy, and weakens our national se- coal. Michael Canes, the former chief econ- curity. We can and must do better. So we can either continue to build omist for the oil industry’s American f the wealth of OPEC countries that use Petroleum Institute, says otherwise: TAYLOR TOWNSEND our money to fund terrorism, nuclear It’s not credible to blame the Obama ad- The SPEAKER pro tempore. The weapons, and unfriendly policies, or ministration’s drilling policies for today’s Chair recognizes the gentleman from build jobs here at home with energy high prices. Mississippi (Mr. HARPER) for 5 minutes. independence. We can let OPEC pick What’s really to blame for high gas Mr. HARPER. Mr. Speaker, I rise the winners and losers, or make the prices is excessive speculation by enti- today to acknowledge the work that USA the winners again. I choose the ties that have no consumption interest Taylor Townsend, a 19-year-old Mis- USA. in the underlying commodities and sissippian and the reigning Miss Mis- We have the energy resources to un- that profit by doing nothing more than sissippi College, is doing to eradicate leash prosperity, but first and only if forecasting price trends. human trafficking. the Federal Government gets out of the Our primary focus should be on coun- Taylor is passionate about the world- way. The Federal Government should tering the growing impact of energy wide problem of human trafficking, be a partner in prosperity, not build speculation rather than simply pro- which has lured millions of people into bureaucracies and barriers to stop our moting the oil industry’s priorities of forced labor. Taylor Townsend is lend- energy independence and hurt the increasing domestic drilling. ing her support for the Blue Heart American family. Experts, including oil industry offi- Campaign to bring awareness to human f cials and investment firms, estimate trafficking and the exploitation of peo- that excessive oil speculation could be ENDING OUR DEPENDENCE ON ple, especially children and teenagers. inflating prices by up to 30 percent. FOREIGN OIL In addition to her work in building But increasing domestic drilling would awareness worldwide with the Blue The SPEAKER pro tempore. The impact prices by only about 1 percent, Heart Campaign, Taylor Townsend has Chair recognizes the gentleman from and that would happen only after a been offering her support in the great (Mr. QUIGLEY) for 5 minutes. decade or more. State of Mississippi. She has promoted Mr. QUIGLEY. Mr. Speaker, every- So then where do we go from here? the passage of two bills pending before one in Washington is trying to arrive We learn from those who are reaping the Mississippi Legislature and is in- at the same destination. We seek to the economic benefits of transitioning volved in educational efforts bringing end our dependence on foreign oil, a de- to development within a booming green awareness to Mississippians. pendence that endangers our environ- industry, countries like India and Mr. Speaker, young people like Tay- ment, hurts our economy, and weakens China. lor Townsend who volunteer their time our national security. Right now, in this Chamber, we ne- to help make our country and world a Importantly, there is a right way to glect to consider a host of incentives better place should be applauded. They get there. That includes cracking down for international and domestic invest- should give us great hope for the fu- on oil speculators, ending Big Oil hand- ment in renewable energy production. ture. outs, investing in public transportation Just last week a measure failed to pass f and green energy, and increasing cor- the Senate that would have extended porate average fuel economy standards. production tax credits for wind, solar, MARCH 20, 2012—SECOND ANNIVER- There’s also a wrong way: ransacking and the like. SARY OF THE AFFORDABLE our coastlines for oil. But you don’t CARE ACT b 1020 have to take my word for it. You can The SPEAKER pro tempore. The take a page from the history books on At a time when we’re rolling back, Chair recognizes the gentleman from this one. For 8 years under the previous governments in Southeast Asia are re- Tennessee (Mr. COHEN) for 5 minutes. administration, the number of oil fining targets for renewable energy ex- Mr. COHEN. Mr. Speaker, I stand leases on public lands almost tripled. It pansion, extending subsidies, and dan- here in the same spot where I was didn’t help gas prices, which doubled in gling tax breaks. This does not a do- about 2 years ago, March 23, 2010, to 2008, and it didn’t make us energy inde- mestic competitive advantage make, celebrate the passage of one of the pendent. and, frankly, we’re better than that. most important acts that this body has Why not? Gas prices are still below the peak ever passed: the Affordable Care Act. The simple fact is the U.S. has less they reached under the previous ad- On March 23, we will celebrate the 2- than 3 percent of the world’s oil re- ministration in 2008; crude oil is at $107 year anniversary of that landmark de- serves. No matter how much we drill in a barrel today compared to $145 a bar- cision. Of course, next week the Su- the U.S., that number is not expected rel back then. But listening to the preme Court will hear arguments on to change. We will never have enough news, you’d have a hard time believing whether the individual mandate is per- oil to satisfy domestic demand for en- these cold, hard facts. missible or not. Let us hope that the ergy. After all, we currently use 25 per- Even if we were to drill a hole every- Supreme Court will act according to cent of the world’s oil, and we will where in the country we know to have the law.

VerDate Mar 15 2010 01:44 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00003 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.004 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1396 CONGRESSIONAL RECORD — HOUSE March 20, 2012 The Affordable Care Act will change costs, or other such costs to the con- After they beat him to death on the landscape of our Nation’s health sumer; and if they go over that in any international TV as the world watched, care delivery system for the better. I way whatsoever, the consumer will get over and over again, not one guard was hosted a telephone town hall last night a rebate. Insurance companies must sent to prison. Not one was even rep- with my constituents on the Affordable now publish justifications for any pre- rimanded. In fact, after we closed down Care Act and was joined by the Deputy mium increases they are seeking of every boot camp in Florida, many of Secretary of Health and Human Serv- more than 10 percent on the Internet, the accused received promotions. and outside experts will evaluate ices, Bill Corr, to answer questions b 1030 from folks in my district about how it whether those increases are justified. will affect them. The consumer will be protected. Well, guess what? In Florida, we have We listened to comments and stories The doughnut hole ending, which I another Martin, Trayvon Martin. about people who have been in the talked about earlier, has helped 3.6 mil- Trayvon Martin was shot to death by a doughnut hole, seniors, that cost them lion seniors receive discounts of $2.1 renegade wannabe policeman neighbor- a lot of money. We told them about the billion, each senior saving an average hood watchman. fact some of them knew that once they of $604. Trayvon Martin lived in Miami, Flor- go into the doughnut hole—after they The preventative care services I men- ida, in District 17, my congressional spend about $2,500 or $2,700 and up to tioned under Medicare, 32.5 million district. about $5,000 you go into that hole—that seniors have already received one or Trayvon, a 140-pound young black the moneys will be paid for, for generic more of those preventative services; boy, 17 years old, was just trying to drugs, with a 50 percent discount be- and youngsters have received them as live and reach 18. In spite of that, the cause of the Affordable Care Act. That well because they get preventative care accused killer, George Zimmerman, is extremely important for citizens and in their vaccinations without having to has not been charged and is using the others with high drug prices. have a copay, which might stop their term of self-defense. Children will be able to stay on their parent from taking them to the doctor The 911 audiotapes tell it all. They parents’ insurance, if they choose to, to get those vaccinations which can tell the story of the last moments of up to the age of 26, which didn’t happen prevent illnesses later. Trayvon Martin’s life, just as the vid- before; and that’s so important for Seniors are now receiving free annual eotapes told so visibly the story of wellness visits under Medicare, and 2.3 young people and for parents to know Martin Lee Anderson’s last moments. million seniors in traditional Medicare the security that their children will be Trayvon was running for his life. He have already taken advantage of the insured if they have a health care cri- was screaming for help, fighting for his new annual wellness visit. life, and then he was murdered, shot sis. Young adults stay on their insurance, Doctors will be able to see seniors for dead. as I mentioned; 2.5 million additional preventative care without cost. That’s Today I applaud the Florida Depart- young people have gained insurance happening right now for those on Medi- ment of Law Enforcement, the FBI, over the last year. and the Federal Department of Justice care and will happen for everybody in Paul Krugman wrote in yesterday’s for their intervention. I encourage the 2014 when the law goes into effect for New York Times that what is called by citizens of Florida and the citizens all—mammograms, colonoscopies, the Republican Party ObamaCare— from around the world to continue to shots for children, vaccinations, et which really, if you think about it, is a fight for justice for Trayvon Martin. cetera. good thing, Obama cares, but it’s not Justice must be served. No more racial The insurance companies will no intended to be by them as, really, profiling. I’m tired of fighting when the longer be able to have lifetime limits Obama-RomneyCare, because the plan evidence is so clear, so transparent. on how much people can use their in- we adopted is based upon what Mitt surance in case of illness. Romney did in Massachusetts to make Twenty years ago while serving as a There will be a consumer-friendly ex- sure that the people of Massachusetts school board member, I founded the change where you can shop for prices bought insurance and the burden was 5000 Role Models of Excellence Project. for insurance and compare insurance shared in an appropriate way. It is a million-dollar nationally recog- policies to get what’s best for you. Thank you, Mitt Romney. Thank nized and honored foundation that spe- You can’t arbitrarily be dropped from you, President Obama. Thank you, cifically addresses the trials and tribu- coverage by your insurance company United States American Congress. lations of young black boys and sends simply because you get sick, and pre- them to college. It impacts almost f existing conditions will no longer be a 20,000 young men throughout Florida. basis to deny somebody insurance. Al- SENSELESS DEATHS BECAUSE OF In spite of that, we still have to ready today, for children up to the age RACE march and demonstrate and write let- of 19, preexisting conditions cannot The SPEAKER pro tempore. The ters and protest and fight and have stop you from getting insurance. Chair recognizes the gentlewoman from prayer vigils and sue and sit in just to I had polio when I was a child. I Florida (Ms. WILSON) for 5 minutes. be heard. No more. No more, Florida. would not like to think of any child Ms. WILSON of Florida. Mr. Speaker, No more, America. No more hiding that gets an illness such as that today, I am tired of burying young black boys. your criminal racial profiling by using whether it be diabetes or cancer or any I am tired of watching them suffer at self-defense to get away with murder. other illness, to be denied insurance be- the hands of those who fear them and Stand up for Trayvon Martin. Stand cause of a preexisting condition. That, despise them. I’m tired of comforting up for justice. Stand up for our chil- because of the Affordable Care Act, will mothers, fathers, grandparents, sisters, dren. I’m tired, tired, tired of burying not occur in the future in this country. and brothers after such unnecessary, young black boys. Insurance companies have taken peo- heinous crimes of violence. f ple off of insurance because they’ve In Florida, almost 3 years ago, as I used too much in a year or too much in served in the Florida Senate, a young THE AFFORDABLE CARE ACT IS a lifetime, and that’s going to stop. black boy, Martin Lee Anderson, was MAKING A DIFFERENCE The idea of getting preventative care, beaten to death at a Florida boot The SPEAKER pro tempore. The which Medicare provides now and all camp. It was all captured on a State of Chair recognizes the gentleman from will have in the future, will lead to Florida Corrections video and shown Texas (Mr. AL GREEN) for 5 minutes. lower health care costs because, if you all over the world. Martin Lee Ander- Mr. AL GREEN of Texas. Mr. Speak- catch illnesses early, it’s much more son was beaten and tortured until his er, the Affordable Care Act is styled cost efficient to treat them, and lives lifeless body couldn’t take any more, such for a reason. Let us look back to will be saved as well. and then Martin Lee Anderson was 2009, at the time we embarked upon Insurance companies are required to dead at the hands of several boot camp passing the Affordable Care Act. At spend at least 80 percent of their mon- guards—a young boy who wanted to be that time in 2009, we were spending $2.5 eys on treating patients, not on execu- somebody, a young boy who was trying trillion per year on health care—$2.5 tive pay, advertising, administrative to turn his life around. trillion. That is a lot of money, and it

VerDate Mar 15 2010 01:44 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00004 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.006 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1397 is very difficult to understand $2.5 tril- give you aid and comfort this week and workers and those looking to hire them lion. Well, $2.5 trillion is $79,000 per we send you to meet your Maker next should not be a partisan issue. We need second. That’s what we were spending week. In this country, if we can give to find those qualified candidates and on health care, $79,000 per second. I’ll aid and comfort to the enemy combat- put them to work. be quite candid with you: these num- ant, if we can give aid and comfort to Modernizing and strengthening WIA bers are so huge that sometimes I do the criminal who robs the bank, if we will help both workers and employers, confuse them myself. That’s $79,000 per can give aid and comfort to the person and it will ensure that our country can second. on death row, surely we can give aid remain competitive in this global econ- We were spending 17.6 percent of GDP and comfort to hardworking Americans omy. I urge my colleagues’ support for on health care. It was projected that by who do not earn enough to afford insur- it. 2018, we would be spending $4.4 trillion ance. f per year on health care. That would be The Affordable Care Act does this. It PROTECTING AMERICA’S YOUTH $139,000 per second. As I said, big num- does not require people who cannot af- bers. It’s hard to always get them cor- ford insurance to buy it, but it does say The SPEAKER pro tempore. The rect because they are so huge and they that every person who can should buy Chair recognizes the gentlewoman from can be confusing. That’s $139,000 per insurance. Texas (Ms. JACKSON LEE) for 5 minutes. second. The Affordable Care Act is making a Ms. JACKSON LEE of Texas. Mr. We had 45,000 persons per year dying difference in the lives of people. Chil- Speaker, I rise this morning on a num- because they didn’t have proper health dren can stay on their parents’ policies ber of issues that I think are enor- care. We had 21 million people who until they’re 26 years of age. This was mously important, and I am delighted were working full time and did not a good piece of legislation. I supported to join initially my colleague from have insurance. That is 21 million peo- it then and I still support it now. The Texas to again emphasize and truth- ple. In my State of Texas, 6 million Affordable Care Act is affordable, and fully tell the story about the Afford- people were uninsured. Twenty percent that is why we passed it. able Care Act that is now 2 years old. But as a founder and the cochair of the of the State’s children were uninsured. f In Harris County in my State of Texas, Congressional Children’s Caucus, and 1.1 million people were uninsured. REAUTHORIZE THE WORKFORCE because our children are our presents It was time for this Congress to act, INVESTMENT ACT and our tomorrows, I think it’s impor- and act we did. By passing the Afford- The SPEAKER pro tempore. The tant to ask the question: Do we want able Care Act, we have reduced the cost Chair recognizes the gentleman from healthy children? And should health of health care over the long term. It Massachusetts (Mr. TIERNEY) for 5 min- care be a question of wealth and sta- doesn’t happen immediately, because utes. tus? Or should it be open to all of our the rising cost, as I’ve explained to Mr. TIERNEY. Mr. Speaker, I rise beautiful and precious children and you, was exponentially huge. It was al- today to urge my colleagues to support youth? most unimaginable. To bring it down legislation that I, along with Congress- The Affordable Care Act allows our doesn’t mean it comes down instantly, man GEORGE MILLER of and young college students to remain on but over the next 20 years we will save RUBE´ N HINOJOSA of Texas, are intro- their parents’ health insurance until a trillion dollars. ducing later today to reauthorize the the age of 26. The Affordable Care Act Here’s what we’ve done. Aside from Workforce Investment Act. allows a baby that has a proclivity to lowering the cost, which is important, The Workforce Investment Act, or asthma as a preexisting condition to be we also impact lives. Preventive care is WIA as it is commonly known, is the able to be covered by insurance. It pro- there. We also do away with pre- primary Federal law governing how vides an opportunity for extensive re- existing conditions. For those who did employment and training services are search into some of the unsolved child- not know, pregnancy is a preexisting provided to adults, youth, and dis- hood diseases, such as pediatric cancer. condition. We also make sure that located workers. It was enacted in 1998 And, of course, it provides greater ac- women are not discriminated against. when unemployment was below 5 per- cess to health care by expanding what Women won’t be charged more simply cent and before many of today’s high we call community health clinics, because they are females, because they growth industries even existed. It is something that I have been a pro- are women. We equalize health care as long past time for WIA to be modern- ponent of since coming to Congress and it relates to the genders. We close the ized and retooled to address our coun- throughout the Bush administration, doughnut hole as it relates to senior try’s current challenges. when I asked President Bush directly citizens. I might also add that in ’09, The bill I’m introducing today does about the number of community health we were spending about $100 billion a just that. This bill increases access to clinics not only in the Nation but in year on uninsured persons, much of training and improves the delivery of my State of Texas, where we have the that in emergency rooms where per- employment services. It strengthens highest number of uninsured persons. sons had to go to the emergency room the law’s accountability standards to So I don’t know why our Republican to get the care that they did not have better evidence program effectiveness Presidential candidates and many by virtue of not having insurance. and provide assurances that our tax- think that the rising pathway to vic- They were getting their primary care payer dollars are being well spent. tory is to condemn an opportunity for in emergency rooms. They were also My bill ensures that the kind of inno- our children. I find that curious, at getting their pharmaceuticals through vative work that’s being done by the best. And I would applaud and cele- emergency rooms. It was a time to act, North Shore Workforce Investment brate President Obama and his admin- and act we did. We passed the Afford- Board in my district and elsewhere istration, the Secretary of Health and able Care Act. across the country can be replicated Human Services, Secretary Sebelius, I will close with this. We live in the and taken to scale, and it expands the and all of those who are contributing richest country in the world. One out role of community colleges in job to the implementing of this legislation. of every 100 persons is a millionaire. In training. I can tell you, in Texas today, as I this country, if you are an enemy com- stand, women are being denied access batant and we should capture you and b 1040 to health care. Thank God for the Af- wound you in the process, we will give This is the kind of commonsense leg- fordable Care Act for its constitutional you aid and comfort. In this country, if islation on which this Congress should or its Federal premise of providing ac- you are a bank robber and you’re rob- be acting. We need to make sure we cess to health care for all Americans. bing the bank and on the way out we provide the training and education so At least we have something that we should harm you, when we capture you, that Americans have the skills to ful- can use to question the denial of access we will give you aid and comfort. In fill the jobs of today and tomorrow. to health care to women in the State of this country, if you’re on death row Too many businesses have job vacan- Texas. and scheduled to meet your Maker next cies because they can’t find qualified I indicated that I chair the Congres- week and you get sick this week, we candidates. Working together to help sional Children’s Caucus, so I rise

VerDate Mar 15 2010 01:44 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00005 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.007 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1398 CONGRESSIONAL RECORD — HOUSE March 20, 2012 today to applaud the Justice Depart- tempore (Mr. GINGREY of Georgia) at for 1-minute speeches on each side of ment decision to investigate the death, noon. the aisle. the murder, of Mr. Trayvon Martin in f f Sanford, Florida. A youngster, the child of two loving parents, minding PRAYER CAPTAIN THOMAS ‘‘BILL’’ his own business, wearing the attire of Reverend Andrew Walton, Capitol DILLION—HOUSTON FIRE FIGHTER youthful people, hoodies, sneakers. I Hill Presbyterian Church, Washington, (Mr. POE of Texas asked and was understand that he had his earphones D.C., offered the following prayer: given permission to address the House in his ear and may have been bopping On a day when leaders of Irish and for 1 minute.) along to a little music. American nations meet to celebrate Mr. POE of Texas. Mr. Speaker, as I support Neighborhood Watch. I common heritage and mutual dreams, the bagpipes played in the background, come from local government. Neigh- may our spirits be united in the one the black cloth of sacrifice was draped bors should watch out for each other spirit. over the badges of Houston first re- but not a neighborhood vigilante. If the May this day bring the memory of sponders yesterday. 911 call said to that individual, Mr. shared anguish and struggle to stir ap- Senior Captain Thomas ‘‘Bill’’ Dillion of the Houston Fire Depart- Zimmerman, ‘‘Don’t follow him,’’ then preciation for times when comfort and ment was rushing into a house fire on get in your car and sit quiet. The po- peace are our companions. March 14 when he apparently died of a lice are on the way. May this day awaken within us won- Every one of us, as parents—I have a heart attack. Captain Dillion was 49 der and imagination that inspire us be- son—this is not an issue that should years of age and had spent 23 years yond the confines of routine and ritual. strike us as color. It should be anyone with the Houston Fire Department. He May the contemplations, conversa- that has a teenager, bopping along had three children. with a hoody on and sneakers and ear- tions, and decisions of the day be With somber respect, hundreds of phones in his ear, just going to get undergirded by wise thoughts, kind Texas firefighters, police officers, candy, to be able to sit in front of the words, and humane actions. emergency medical technicians, and all-star game, and he winds up with a May we find God-given goodness citizens attended his funeral. Mr. gunshot to the chest that kills him within ourselves and within those Speaker, 300 firefighters from other dead in his tracks. whom we encounter that we may de- towns in Texas volunteered their time Thank you Justice Department for fend and nurture the worth and dignity to fill in at Houston Fire Department recognizing that the harsh law in the of every human being. stations so Houston firefighters could State of Florida that says that you can May we find success on our journey. attend the funeral. stand your ground and defend yourself, Go n-eiri an bothar leat, meaning, Firefighters are a family of dedi- this man should have retreated. He ‘‘May the road rise with us.’’ cated, loyal public servants. Captain should have never been out there after May the wind be always at our back. Dillion and other firefighters spend that boy. That boy was not found com- May the sun shine warm upon our their lives rescuing people they do not ing out of a window, going through a face, know and protecting property they door. He was on a sidewalk. And it is The rains fall soft upon our fields, have never seen from fire. Most of us an outrage. Thank you to President And until we meet again, flee danger; firefighters rush to the Obama’s Justice Department for recog- May God hold us in the hollow of smell of smoke and the heat of danger. nizing that his civil rights are now in God’s hand. Bill’s crew at Station 69 spoke yes- question of having been violated. And Amen. terday about him, saying he was a de- the Federal law preempts Florida’s f vout Christian, had a contagious happy law, which is the harshest law in this mood, loved to fish and, of course, THE JOURNAL Nation. Every parent should think at liked country music. least that if their child is just being a The SPEAKER pro tempore. The Captain Dillion and his fellow fire- child, just being a teenager, a young- Chair has examined the Journal of the fighters are a remarkable breed, a rare ster who liked to babysit and play foot- last day’s proceedings and announces breed, the American breed. We thank ball, that he still had life ahead of him. to the House his approval thereof. them, one and all. I also want to say that I support Pursuant to clause 1, rule I, the Jour- And that’s just the way it is. moving the ‘‘R’’ status from the bul- nal stands approved. f lying bill. I held a major hearing in my f district. Bullying is an epidemic. And I AMERICAN WOMEN’S HEALTH have introduced major legislation, H.R. PLEDGE OF ALLEGIANCE (Ms. HAHN asked and was given per- 83, and I am encouraging the Judiciary The SPEAKER pro tempore. Will the mission to address the House for 1 Committee to pass this legislation gentleman from South Carolina (Mr. minute.) dealing with bullying. It is an epi- WILSON) come forward and lead the Ms. HAHN. Mr. Speaker, this week demic. We can reauthorize the block House in the Pledge of Allegiance. marks the second anniversary of the grant to give money for best practices Mr. WILSON of South Carolina led Affordable Care Act, legislation that to help parents, to help schools, to help the Pledge of Allegiance as follows: makes quality health care more afford- children learn about bullying. I believe I pledge allegiance to the Flag of the able for everyone. March is also Wom- in our children. I want this Congress to United States of America, and to the Repub- en’s History Month, so I would like to believe in our children, and this Nation lic for which it stands, one nation under God, talk about how this act affects wom- to believe in our children. indivisible, with liberty and justice for all. en’s health. f f Instead of just imposing government mandates on health care for women, I RECESS ANNOUNCEMENT BY THE SPEAKER believe the Affordable Care Act empow- The SPEAKER pro tempore. Pursu- PRO TEMPORE ers women and their families because ant to clause 12(a) of rule I, the Chair The SPEAKER pro tempore. Under the Affordable Care Act bans insurance declares the House in recess until noon clause 5 (d) of rule XX, the Chair an- companies from requiring women to today. nounces to the House that, in light of obtain authorization before getting OB/ Accordingly (at 10 o’clock and 44 the resignation of the gentleman from GYN care. The Affordable Care Act minutes a.m.), the House stood in re- Washington (Mr. INSLEE), the whole keeps insurance companies from deny- cess. number of the House is 432. ing coverage for conditions such as f f breast or cervical cancer, pregnancy, b 1200 having had a C-section, or being the ANNOUNCEMENT BY THE SPEAKER victim of domestic violence; and it AFTER RECESS PRO TEMPORE ends the practice of gender rating, so The recess having expired, the House The SPEAKER pro tempore. The women will no longer be charged high- was called to order by the Speaker pro Chair will entertain up to 15 requests er rates for simply being a woman.

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00006 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.021 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1399 The Affordable Care Act does all of limits on care, so Americans will not being a victim of domestic violence. As this while preserving Americans’ right go bankrupt simply because they are I said earlier, the Affordable Care Act to choose their own doctor and the trying to be healthy. will abolish all of these barbaric dis- health coverage that they want. Wom- And in 2014, because of health care criminatory practices starting in 2014. en’s health, Americans’ health is better reform, women cannot be denied access We are going to hear a lot of hooting because of the Affordable Care Act. because of a preexisting condition. and hollering this week about repeal- f There is no better time than today to ing ObamaCare, but those people who stand up and demand quality, acces- say that should look women in the eye ALLOWING ELECTION YEAR POLI- sible health care for women. in this country and tell them what you TICS TO DICTATE POLICY IS NO are going to do to end these discrimi- WAY TO GOVERN f natory practices. The fact of the mat- THE PRESIDENT’S POLICIES BRING (Mr. BOUSTANY asked and was ter is they have no answer. HIGHER PRICES AT THE PUMP given permission to address the House It is time to stand up for this act. for 1 minute.) (Mr. WILSON of South Carolina f Mr. BOUSTANY. Mr. Speaker, since asked and was given permission to ad- this administration took office, the dress the House for 1 minute and to re- b 1210 price of gasoline has more than dou- vise and extend his remarks.) REPEAL THE IPAB bled. In January of 2009, the national Mr. WILSON of South Carolina. Mr. average price for a gallon of gasoline Speaker, over the past month, the (Mr. HARRIS asked and was given was $1.79. Today, that same gallon of price of gas per gallon has increased by permission to address the House for 1 gasoline will set you back $3.84. Yet 31 cents, with an average cost of $3.83 minute.) this administration continues to let per gallon. This weekend the President Mr. HARRIS. Mr. Speaker, as a phy- election-year politics dictate policy. said that his administration could not sician, you know that buried very deep Since 2010, I have led the charge at do much to provide relief at the pump, in the President’s 2,000-page health fighting President Obama’s assault on but, actually, earlier he promised to in- care bill was the Independent Payment offshore drilling. The moratorium, a crease energy costs, which destroys Advisory Board, or IPAB, an unelected, knee-jerk reaction by Washington lib- jobs. The President also claims to sup- unaccountable 15-member rationing erals, harmed many local oil and gas port an all-of-the-above energy plan; board appointed by the President for producers on the Gulf Coast. According however, due to his decision to reject the sole purpose of cutting Medicare. to a recent study conducted by the the Keystone pipeline, it is clear these Who will the 15 members of the board Louisiana State University, the mora- claims are not being fulfilled. be? Well, the law actually forbids them torium resulted in the loss of 8,000 Gulf The President’s solution to help with from being active health care pro- State jobs and $487 million in lost rising energy costs is to delay smog viders. It only allows 7 members of the wages. And to make matters worse, the regulations that will mandate that board to even have a health care pro- administration continues to push high- more sulfur be stripped from gasoline. vider background. In short, a majority er taxes on American independent en- The delay of this policy will not lower of the board will be composed of people ergy producers, leading to higher costs prices but simply keep them from in- who have no experience in actually car- and higher unemployment rates. creasing due to more government regu- ing for patients. The past 3 years were marred with lation. Patients across the country, espe- poor decisions relating to domestic en- I urge the President to work with cially those in rural areas like my dis- ergy production, with consequences House Republicans and begin enacting trict, are already struggling to find falling directly on south Louisiana policies which will help Americans feel physicians who will accept new Medi- families. Now is the time to promote relief at the pump. care patients. The IPAB will only sensible energy policies that put Amer- In conclusion, God bless our troops, make this worse. If Medicare bene- icans back to work while fully utilizing and we will never forget September the ficiaries are lucky enough to find a the resources we have right here at 11th in the global war on terrorism. physician who will see them, the IPAB home. f will place a government-rationing bu- reaucrat between them and their physi- f DISCRIMINATORY INSURANCE cians. That government bureaucrat has THE AFFORDABLE CARE ACT’S PRACTICES no place in the physician-patient rela- IMPACT ON WOMEN (Mr. COURTNEY asked and was tionship in America. (Ms. FUDGE asked and was given given permission to address the House We need to repeal the IPAB now. permission to address the House for 1 for 1 minute.) f minute.) Mr. COURTNEY. Mr. Speaker, this Ms. FUDGE. Mr. Speaker, the Na- week the National Women’s Law Cen- COMPENSATION FOR BETHLEHEM tional Women’s Law Center recently ter issued a report, an online survey of STEEL EMPLOYEES reported that 90 percent of the best insurance brokers across the country; (Mr. HIGGINS asked and was given selling health plans charge women and what they found is something that permission to address the House for 1 more than men for the same coverage. every woman who owns a small busi- minute.) In addition, insurers have classified ness or tries to buy a policy on the in- Mr. HIGGINS. Mr. Speaker, the Beth- millions of women as having pre- dividual market knows, which is that lehem Steel plant in Lackawanna, New existing conditions because of a pre- 90 percent of the best selling insurance York, was once the center of western vious cesarean section or having been plans charge women more than men New York’s industrial sector, employ- pregnant, even for being a victim of do- simply because of the fact that they ing thousands of people. Tragically, mestic violence. are women. This is a fact which is not these workers were unknowingly ex- For decades, women have unfairly denied by any of the major insurers— posed to residual toxic uranium dust been charged excessive costs for their Blue Cross, WellPoint, Humana—which and high levels of radiation, leaving health care. Well, that changes now. were all interviewed in a story in The many suffering from cancer and other Because of the Affordable Care Act, the New York Times a few days ago on this health problems. Thanks to the efforts discriminatory practice known as issue. This is not a debating point; this of the employees’ families, Congress es- ‘‘gender rating,’’ or charging women is a fact. tablished a program to compensate more than men for care, will be prohib- In addition to higher costs, many in- former Bethlehem Steel employees for ited starting in 2014; and women in pri- surance companies in some jurisdic- their illnesses. However, this process is vate plans can obtain free lifesaving tions around this country deny women a difficult one to navigate. procedures, such as mammograms and coverage entirely because of conditions I am proud to have worked with the colonoscopies. which are characteristic of women, individual families and help countless The Affordable Care Act bans insur- which is breast or cervical cancer, of them receive the compensation they ance companies from imposing lifetime pregnancy, having a C-section, or even are owed. But, Mr. Speaker, there’s

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00007 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.011 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1400 CONGRESSIONAL RECORD — HOUSE March 20, 2012 still more to be done. There are fami- insurance plans will automatically be Already, hundreds of men and women lies who deserve to be compensated for covered for screenings, mammograms, from all across San Diego have shared their suffering. And that’s why I, along colonoscopies, and birth control. with me how important affordable ac- with New York Senators CHUCK SCHU- Finally, health insurance companies cess to contraception is for them and MER and KIRSTEN GILLIBRAND, are call- can no longer cancel your policy if you for their families. They can’t afford to ing on the National Institute of Occu- get sick. have it stripped away by this Congress. pational Safety and Health to expand These are important consumer pro- I urge my colleagues to build on the eligibility period. tections for women across America, for these reforms to ensure that all women Mr. Speaker, western New Yorkers our mothers, for our daughters, and for have equal access to health care. have long been recognized as some of our families. f the most dedicated in this country. I f b 1220 will not rest until those who worked so ELIMINATING IPAB hard for Bethlehem Steel are com- COMMENDING PRESIDENT pensated for the undeserved suffering. (Mr. DESJARLAIS asked and was OBAMA’S LANDMARK f given permission to address the House HEALTHCARE REFORM for 1 minute.) FIXING MEDICARE (Mr. FALEOMAVAEGA asked and Mr. DESJARLAIS. Mr. Speaker, be- was given permission to address the (Mr. GINGREY of Georgia asked and cause the President cannot stand by House for 1 minute and to revise and was given permission to address the his record of failed policies and broken extend his remarks.) House for 1 minute and to revise and promises, he has resorted to the poli- Mr. FALEOMAVAEGA. Mr. Speaker, extend his remarks.) cies of envy and division—all in the in the 2 years since President Obama Mr. GINGREY of Georgia. Mr. Speak- name of ‘‘fairness.’’ However, is it signed the Affordable Care Act into er, you’ve heard on our side of the aisle ‘‘fair’’ that, to pay for his health care law, millions of Americans have al- this morning a number of Members bill, President Obama cut $500 billion ready experienced firsthand its impor- talk about saving Medicare and pro- from Medicare, thereby threatening tant benefits and the economic secu- tecting our precious seniors. What seniors and their access to health care? rity it provides. Because of President we’re wanting to save them from is the As a doctor for over 20 years, I know Obama’s bold reforms, Medicare is now most egregious aspect of ObamaCare, how important Medicare is to our sen- stronger for seniors, and women can and that’s called the IPAB law, which iors. That’s why I’m proud to join now get lifesaving mammograms at no is the 15-member bureaucrat agency House Republicans this week in intro- extra cost. Children won’t lose their that’s going to actually come between ducing a bill to eliminate the new coverage just because they were born a doctor and his or her patient and Medicare rationing board created in with preconditions like asthma. interfere with that sacrosanct doctor- ObamaCare. Altogether, families across the Na- patient relationship and make deci- While President Obama thinks 15 tion are seeing how health reform is sions to cut and slash their Medicare unelected Washington bureaucrats saving lives and saving money. For ex- opportunity to see their doctors. should decide the value of medical ample, 86 million Americans have re- This is not the way to fix Medicare, services, my fellow physicians and I be- ceived free preventive health care, and Mr. Speaker. We know how to fix Medi- lieve that power should remain be- 180 million are now protected from care, and we will talk about that in our tween the Nation’s doctors and their some of the worst health insurance budget this year as we did last year, patients. Fifteen unelected bureau- abuses. An additional 2.5 million young but we must strike down this egregious crats. That’s one crowded exam room. adults now have health insurance, and section of this 2,700-page bill. And we Let us pass this bill and get rid of 47 million Americans now benefit from will do that this week. this health care law that we didn’t ask a stronger Medicare program. Now pre- f for, we can’t afford, and we just plain scription drug discounts have saved 3.6 don’t want. WOMEN’S HEALTH CARE million Medicare recipients an average f of $600. (Ms. CASTOR of Florida asked and EQUAL ACCESS TO HEALTH CARE Mr. Speaker, President Obama’s was given permission to address the landmark health care reforms are al- House for 1 minute.) (Mrs. DAVIS of California asked and ready helping millions of Americans Ms. CASTOR of Florida. Let’s get to was given permission to address the save lives and live healthier lives. I the facts on women’s health care under House for 1 minute and to revise and commend President Obama for making the Affordable Care Act, which is 2 extend her remarks.) the tough decisions that have given years old this week. Mrs. DAVIS of California. Mr. Speak- more Americans access to an afford- First, good news: The Affordable Care er, I rise today to join my colleagues in able quality health care program. Act outlaws discrimination based on speaking up about women’s health. As f gender in copayments and premiums we approach the anniversary of the for the same coverage. Women have passage of the Affordable Care Act, I HEALTH CARE REFORM generally been charged more for health want to remind all of us about some of (Mr. JOHNSON of Georgia asked and insurance. A recent report shows that the challenges that women have faced was given permission to address the more than 90 percent of the best-selling before health reform was signed into House for 1 minute and to revise and health plans still charge women more law. extend his remarks.) than men for the same coverage. The Before health reform was signed into Mr. JOHNSON of Georgia. Mr. Speak- Affordable Care Act ends that discrimi- law, insurance companies could deny er, we lead busy lives here, and I don’t nation. coverage to women due to so-called want to blame my colleagues for being Second: Women can no longer be de- preexisting conditions like cancer or forgetful, nor do I want to accuse any- nied coverage by an HMO or health in- even simply having been pregnant. In- one of just not caring. But I do have to surance company because they have a surance companies could force women remind the House that before the preexisting condition like breast can- to pay more for their coverage simply health care law, insurance companies cer that’s in remission, because they because of their gender. And now, were free to discriminate against had a C-section when they delivered thanks to the Affordable Care Act, women, and they did so with reckless their child, or even because they had women will be able to see their OB/ abandon. Women were charged 50 per- injuries from domestic violence. GYN without a referral. You’ve heard cent more than men for the same in- Third: Women no longer have to that repeatedly today because that’s surance coverage, and pregnancy could jump through the bureaucratic hoop of critical and important to women. be considered a preexisting condition. obtaining permission to see their OB/ Women will have access to critical pre- Reform ends this discrimination, but, GYN. ventive services like birth control with unfortunately, many in Congress and Fourth: Because prevention works no out-of-pocket costs. And that ulti- people on the campaign trail have for- and saves money, women in new health mately saves health care expenses. gotten the past, and they seem to be

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00008 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.012 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1401 determined to repeal it. Reform put to as the ‘Administrator’), in consultation ‘‘§ 622. Selection of real properties women in control of their health, and with the Director of the Office of Manage- ‘‘The head of each executive agency shall shame on those who put insurance ment and Budget (in this subchapter referred recommend properties to the Director for companies back in charge. to as the ‘Director’), shall conduct a pilot disposal under the Federal Real Property program to be known as the ‘Federal Real Pilot Program. The Director, in consultation f Property Disposal Pilot Program’, under with the Administrator, shall then select HONORING THE CLOONEY FAMILY which the Administrator, in consultation properties for disposal under the pilot pro- with the Director, shall determine which 15 gram and notify the recommending execu- (Mr. AL GREEN of Texas asked and Federal Government real properties that are tive agency accordingly. was given permission to address the excess or surplus and have the highest fair ‘‘§ 623. Expedited disposal requirements House for 1 minute and to revise and market value and the greatest potential to extend his remarks.) sell and shall dispose of such properties in ‘‘(a) EXPEDITED DISPOSAL OF REAL PROP- accordance with this subchapter and through ERTY DEFINED.—For purposes of this sub- Mr. AL GREEN of Texas. Mr. Speak- chapter, an ‘expedited disposal of real prop- er, I rise today to give a great expres- an expedited disposal of real property. ‘‘(b) DISPOSAL.—During the five-year pe- erty’ is the sale of real property for cash that sion of gratitude to the Clooney fam- riod beginning on the date of the enactment is conducted pursuant to the requirements of ily. Mr. George Clooney and his father, of the Excess Federal Building and Property section 545(a) of this title. Nick, were among the many who were Disposal Act of 2012, the Administrator, in ‘‘(b) FAIR MARKET VALUE REQUIREMENT.— arrested on Friday, March 16, pro- consultation with the Director, shall dispose Real property sold under the Federal Real testing over at the Sudanese Embassy. of real property under the Federal Real Property Pilot Program may not be sold at I am saluting them, and am grateful to Property Disposal Pilot Program through a less than the fair market value as deter- mined by the Administrator, in consultation them because not only of what they did public auction. ‘‘(c) ADDING PROPERTIES TO THE PILOT PRO- with the Director. Costs associated with dis- that day but of what Mr. Clooney did GRAM.—Not later than 15 days after a prop- posal may not exceed the fair market value when he went into Sudan, at some con- erty is disposed of under subsection (b), the of the property unless the Director approves siderable risk I might add, to secure Administrator, in consultation with the Di- incurring such costs. evidence of what was taking place rector, shall designate an additional prop- ‘‘(c) MONETARY PROCEEDS REQUIREMENT.— there and what is taking place. erty, in accordance with subsection (a), to be Real property shall be sold under the Federal Those who would like to see some of disposed of under the Federal Real Property Real Property Pilot Program only if the the evidence can go to Disposal Pilot Program. property will generate monetary proceeds to ‘‘(d) EXCEPTIONS.—The Administrator shall www.enoughproject.org. You can actu- the Federal Government, as provided in sub- not include for purposes of the Federal Real section (b). A disposal of real property under ally see the video. Property Pilot Program any of the following the Federal Real Property Pilot Program I believe what he and those others types of property: may not include any exchange, trade, trans- who were arrested have done merits ‘‘(1) A parcel of real property, building, or fer, acquisition of like-kind property, or having a flag flown over the Capitol. other structure located on such real property other non-cash transaction as part of the dis- We will fly a flag over the Capitol in that is to be closed or realigned under the posal. honor of those who participated in the Defense Base Closure and Realignment Act ‘‘(d) RULE OF CONSTRUCTION.—Nothing in protest movement. of 1990 (10 U.S.C. 2687 note). this subchapter shall be construed as termi- ‘‘(2) Properties that are excluded for rea- nating or in any way limiting authorities f sons of national security by the Director of that are otherwise available to agencies ANNOUNCEMENT BY THE SPEAKER the Office of Management and Budget. under other provisions of law to dispose of PRO TEMPORE ‘‘(3) Indian and Native Eskimo properties Federal real property, except as provided in including— subsection (e). The SPEAKER pro tempore. Pursu- ‘‘(A) any property within the limits of any ‘‘(e) EXEMPTION FROM CERTAIN REQUIRE- ant to clause 8 of rule XX, the Chair Indian reservation to which the United MENTS.—Any expedited disposal of a real will postpone further proceedings States owns title; and property conducted under this subchapter today on the motion to suspend the ‘‘(B) any property title which is held in shall not be subject to— rules on which a recorded vote or the trust by the United States for the benefit of ‘‘(1) subchapter IV of this chapter; yeas and nays are ordered, or on which any Indian tribe or individual or held by an ‘‘(2) sections 550 and 553 of this title; Indian tribe or individual subject to restric- the vote incurs objection under clause ‘‘(3) section 501 of the McKinney-Vento tion by the United States against alienation. Homeless Assistance Act (42 U.S.C. 11411); 6 of rule XX. ‘‘(4) Properties operated and maintained by ‘‘(4) any other provision of law authorizing Any record vote on the postponed the Tennessee Valley Authority pursuant to the no-cost conveyance of real property question will be taken later today. the Tennessee Valley Authority Act of 1933 owned by the Federal Government; or f (16 U.S.C. 831 et seq.). ‘‘(5) any congressional notification require- ‘‘(5) Postal properties owned by the United ment other than that in section 545 of this EXCESS FEDERAL BUILDING AND States Postal Service. title. PROPERTY DISPOSAL ACT OF 2012 ‘‘(6) Properties used in connection with ‘‘§ 624. Special rules for deposit and use of Mr. CHAFFETZ. Mr. Speaker, I move river, harbor, flood control, reclamation, or proceeds from expedited disposals power projects. to suspend the rules and pass the bill ‘‘The proceeds from an expedited disposal ‘‘(7) Properties that the Administrator has (H.R. 665) to establish a pilot program of real property under this subchapter shall determined are suitable for assignment to be deposited into the General Fund of the for the expedited disposal of Federal the Secretary of the Interior for transfer to Treasury. Two percent of such proceeds is real property, as amended. a State, a political subdivision or instrumen- authorized to be appropriated until expended The Clerk read the title of the bill. tality of a State, or a municipality for use as to fund the grant program under section 625. The text of the bill is as follows: a public park or recreation area under sec- H.R. 665 tion 550(e) of this title. In making such de- ‘‘§ 625. Homeless assistance grants Be it enacted by the Senate and House of Rep- termination, the Administrator may con- ‘‘(a) GRANT AUTHORITY.—To the extent resentatives of the United States of America in sider the appraised value of the property and amounts are made available pursuant to sec- Congress assembled, the highest and best use. tion 624 for use under this section, the Sec- retary of Housing and Urban Development SECTION 1. SHORT TITLE. ‘‘(8) Properties used, as of the date of the This Act may be cited as the ‘‘Excess Fed- enactment of this subchapter, in connection shall make grants to eligible private non- eral Building and Property Disposal Act of with Federal programs for recreational and profit organizations under subsection (b) to 2012’’. conservation purposes, including research for purchase property suitable for use to assist the homeless as provided in subsection (c). SEC. 2. FEDERAL REAL PROPERTY DISPOSAL such programs. ‘‘(b) ELIGIBLE GRANTEES.—To be eligible to PILOT PROGRAM. ‘‘(e) GAO REPORT.—Not later than 24 months after the date of the enactment of receive a grant under subsection (a), a pri- (a) IN GENERAL.—Chapter 5 of subtitle I of vate nonprofit organization shall be a rep- title 40, , is amended by this subchapter, the Comptroller General of resentative of the homeless, as such term is adding at the end the following new sub- the United States shall submit to Congress defined in section 501(i)(4) of the McKinney- chapter: and make publicly available a study of the effectiveness of the Federal Real Property Vento Homeless Assistance Act (42 U.S.C. ‘‘SUBCHAPTER VII—EXPEDITED Pilot Program. 11411(i)(4)). DISPOSAL OF REAL PROPERTY ‘‘(f) TERMINATION.—The Federal Real Prop- ‘‘(c) USE OF PROPERTIES FOR HOUSING OR ‘‘§ 621. Federal real property disposal pilot erty Disposal Pilot Program shall terminate SHELTER FOR THE HOMELESS.— program on the date that is five years after the date ‘‘(1) ELIGIBLE USES.—A nonprofit organiza- ‘‘(a) IN GENERAL.—The Administrator of of the enactment of the Excess Federal tion that receives a grant under subsection General Services (in this subchapter referred Building and Property Disposal Act of 2012. (a) shall use the amounts received under

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such grant only to acquire or rehabilitate ‘‘(2) ASSISTANCE.—The Administrator shall SEC. 4. ENHANCED AUTHORITIES WITH REGARD real property for use to provide permanent assist executive agencies in the identifica- TO PREPARING PROPERTIES TO BE housing (as such term is defined in section tion and disposal of excess real property. REPORTED AS EXCESS. 401 of the McKinney-Vento Homeless Assist- ‘‘(b) DUTIES OF EXECUTIVE AGENCIES.— Section 572(a)(2) of title 40, United States ance Act (42 U.S.C. 11360)), transitional hous- ‘‘(1) IN GENERAL.—Each executive agency Code, is amended— ing (as such term is defined in such section shall— (1) by redesignating subparagraphs (B) and 401), or temporary shelter, for persons who ‘‘(A) maintain adequate inventory controls (C) as subparagraphs (C) and (D), respec- are homeless. and accountability systems for property tively; and ‘‘(2) TERM OF USE.—The Secretary of Hous- under its control; (2) by inserting after subparagraph (A) the ing and Urban Development may not make a ‘‘(B) continuously survey property under following new subparagraph: grant under subsection (a) to a private non- its control to identify excess property; ‘‘(B) ADDITIONAL AUTHORITY.—(i) From the profit organization unless the organization ‘‘(C) promptly report excess property to fund described in paragraph (1), subject to provides the Secretary with such assurances the Administrator; clause (iv) of this subparagraph, the Admin- as the Secretary determines necessary to en- ‘‘(D) perform the care and handling of ex- istrator may obligate an amount to pay the sure that any property acquired or rehabili- cess property; and direct and indirect costs related to identi- tated using the amounts received under such ‘‘(E) transfer or dispose of excess property fying and preparing properties to be reported grant is used only as provided in paragraph as promptly as possible in accordance with excess by another agency. (1) of this subsection for a period of not fewer authority delegated and regulations pre- ‘‘(ii) The General Services Administration than 15 years. scribed by the Administrator. shall be reimbursed from the proceeds of the ‘‘(d) PREFERENCE.—In awarding grants ‘‘(2) SPECIFIC REQUIREMENTS WITH RESPECT sale of such properties for such costs. under subsection (a), the Secretary of Hous- TO REAL PROPERTY.—With respect to real ‘‘(iii) Net proceeds shall be dispersed pursu- ing and Urban Development shall give pref- property, each executive agency shall— ant to section 571 of this title. erence for such grants to private nonprofit ‘‘(A) develop and implement a real prop- ‘‘(iv) The authority under clause (i) to obli- organizations that operate within areas in erty plan in order to identify properties to gate funds to prepare properties to be re- which Federal real property is being sold declare as excess using the guidance issued ported excess does not include the authority under the Federal Real Property Disposal under subsection (a)(1); to convey such properties by use, sale, lease, ‘‘(B) identify and categorize all real prop- Pilot Program under this subchapter. exchange, or otherwise, including through erty owned, leased, or otherwise managed by ‘‘(e) NONPROFIT ORGANIZATION.—For pur- leaseback arrangements or service agree- the agency; poses of this section, the following defini- ments. ‘‘(C) establish adequate goals and incen- tions shall apply: ‘‘(v) Nothing in this subparagraph is in- tives to reduce excess real property in such ‘‘(1) HOMELESS.—The term ‘homeless’ has tended to affect subparagraph (D).’’. agency’s inventory; and the meaning given such term in section 103 SEC. 5. ENHANCED AUTHORITIES WITH REGARD ‘‘(D) when appropriate, use the authorities of the McKinney-Vento Homeless Assistance TO REVERTED REAL PROPERTY. in section 572(a)(2)(B) of this title in order to Act (42 U.S.C. 11302(a)), except that sub- (a) AUTHORITY TO PAY EXPENSES RELATED identify and prepare real property to be re- TO REVERTED REAL PROPERTY.—Section section (c) of such section shall not apply for ported as excess. purposes of this section. 572(a)(2)(A) of title 40, United States Code, is ‘‘(3) ADDITIONAL REQUIREMENTS.—Each ex- amended by adding at the end the following: ‘‘(2) PRIVATE NONPROFIT ORGANIZATION.— ecutive agency, as far as practicable, shall— ‘‘(iv) The direct and indirect costs associ- The term ‘private nonprofit organization’ ‘‘(A) reassign property to another activity ated with the reversion, custody, and dis- has the meaning given such term in section within the agency when the property is no posal of reverted real property.’’. 401 of the McKinney-Vento Homeless Assist- longer required for the purposes of the appro- (b) REQUIREMENTS RELATED TO SALES OF ance Act (42 U.S.C. 11360). priation used to make the purchase; REVERTED PROPERTY UNDER SECTION 550.— ‘‘(f) REGULATIONS.—The Secretary of Hous- ‘‘(B) transfer excess property under its con- Section 550(b)(1) of title 40, United States ing and Urban Development may issue any trol to other Federal agencies and to organi- regulations necessary to carry out this sec- zations specified in section 321(c)(2) of this Code, is amended— tion.’’. title; and (1) by inserting ‘‘(A)’’ after ‘‘(1) IN GEN- (b) CLERICAL AMENDMENT.—The table of ‘‘(C) obtain excess properties from other ERAL.—’’; and sections at the beginning of chapter 5 of sub- Federal agencies to meet mission needs be- (2) by adding at the end the following: ‘‘If title I of title 40, United States Code, is fore acquiring non-Federal property.’’. the official, in consultation with the Admin- amended by inserting after the item relating (b) CLERICAL AMENDMENT.—The item relat- istrator, recommends reversion of the prop- to section 611 the following: ing to section 524 in the table of sections at erty, the Administrator shall take control of such property, and, subject to subparagraph ‘‘SUBCHAPTER VII—EXPEDITED DISPOSAL OF the beginning of chapter 5 of such title is (B), sell it at or above appraised fair market REAL PROPERTY amended to read as follows: ‘‘524. Duties of the General Services Admin- value for cash and not by lease, exchange, ‘‘621. Federal real property disposal pilot leaseback arrangements, or service agree- program. istration and executive agen- cies.’’. ments. ‘‘622. Selection of real properties. ‘‘(B) Prior to sale, the Administrator shall (c) GSA REPORT.— ‘‘623. Expedited disposal requirements. make such property available to State and (1) IN GENERAL.—Not later than three years ‘‘624. Special rules for deposit and use of pro- local governments and certain non-profit in- after the date of the enactment of this Act, ceeds from expedited disposals. stitutions or organizations pursuant to this the Administrator of General Services shall ‘‘625. Homeless assistance grants.’’. section and sections 553 and 554 of this submit a report to the Committee on Over- SEC. 3. DUTIES OF THE GENERAL SERVICES AD- sight and Government Reform of the House title.’’. MINISTRATION AND EXECUTIVE (c) REQUIREMENTS RELATED TO SALES OF AGENCIES. of Representatives and the Committee on Homeland Security and Governmental Af- REVERTED PROPERTY UNDER SECTION 553.— (a) IN GENERAL.—Section 524 of title 40, fairs of the Senate on the implementation of Section 553(e) of title 40, United States Code, United States Code, is amended to read as is amended— follows: section 524, as amended by subsection (a), and each of the following: (1) by inserting ‘‘(1)’’ after ‘‘THIS SEC- ‘‘§ 524. Duties of the General Services Admin- (A) The efforts of each executive agency to TION.—’’; and istration and executive agencies reduce such agency’s real property assets, (2) by adding at the end the following: ‘‘If ‘‘(a) DUTIES OF THE GENERAL SERVICES AD- based on data submitted from such agency. the Administrator determines that reversion MINISTRATION.— (B) For each excess and surplus real prop- of the property is necessary to enforce com- ‘‘(1) GUIDANCE.—Not later than 6 months erty facility/installation disposed of, an indi- pliance with the terms of the conveyance, after the date of the enactment of this sec- cation of— the Administrator shall take control of such tion, and when necessary thereafter, the Ad- (i) the date and method of disposal; property and, subject to paragraph (2), sell it ministrator of General Services shall issue (ii) the proceeds obtained from the disposi- at or above appraised fair market value for guidance for the development and implemen- tion of such property; cash and not by lease, exchange, leaseback tation of executive agency real property (iii) the amount of time required to fully arrangements, or service agreements. plans. Such guidance shall include rec- dispose of excess and surplus real property ‘‘(2) Prior to sale, the Administrator shall ommendations on— under the custody and control of all execu- make such property available to State and ‘‘(A) how to identify excess properties; tive agencies; and local governments and certain non-profit in- ‘‘(B) how to evaluate the costs and benefits (iv) the cost to dispose of surplus and ex- stitutions or organizations pursuant to this associated with disposing of real property; cess real property under the custody and section and sections 550 and 554 of this ‘‘(C) how to prioritize disposal decisions control of all executive agencies. title.’’. based on agency missions and anticipated fu- (2) DEFINITIONS.—The terms ‘‘excess prop- SEC. 6. AGENCY RETENTION OF PROCEEDS. ture need for holdings; and erty’’, ‘‘executive agency’’, and ‘‘surplus The text of section 571 of title 40, United ‘‘(D) how best to dispose of those prop- property’’ have the meanings given those States Code, is amended to read as follows: erties identified as excess to meet the needs terms in section 102 of title 40, United States ‘‘(a) PROCEEDS FROM TRANSFER OR SALE OF of the agency. Code. REAL PROPERTY.—

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‘‘(1) DEPOSIT OF NET PROCEEDS.—Net pro- cluding the address and description for each review of the determination is requested ceeds described in subsection (d) shall be de- such property. within the 20-day period, such property will posited into the appropriate real property ‘‘(2) The total size of each Federal real not be included in subsequent publications account of the agency that had custody and property of each such agency, including unless the landholding agency reclassifies accountability for the real property at the square footage and acreage of each such the property as available and the Secretary time the real property is determined to be property. subsequently determines the property is excess. ‘‘(3) The relevance of each Federal real suitable.’’. ‘‘(2) EXPENDITURE OF NET PROCEEDS.—The property to the agency’s mission. The SPEAKER pro tempore. Pursu- net proceeds deposited pursuant to para- ‘‘(4) The level of use of each Federal real ant to the rule, the gentleman from graph (1) may only be expended as authorized property for each such agency, including in annual appropriations Acts, for activities whether such property is excess, surplus, un- Utah (Mr. CHAFFETZ) and the gen- described in sections 543 and 545 of this title, derutilized, or unutilized. tleman from Illinois (Mr. QUIGLEY) including paying costs incurred by the Gen- ‘‘(5) The number of days each Federal real each will control 20 minutes. eral Services Administration for any dis- property is designated as excess, surplus, un- The Chair recognizes the gentleman posal-related activity authorized by this derutilized, or unutilized. from Utah. title. ‘‘(6) The annual operating costs of each GENERAL LEAVE ‘‘(3) DEFICIT REDUCTION.—Any net proceeds Federal real property. described in subsection (d) from the sale, ‘‘(7) The replacement value of each Federal Mr. CHAFFETZ. Mr. Speaker, I ask lease, or other disposition of surplus real real property. unanimous consent that all Members property that are not expended under para- ‘‘(c) ACCESS TO DATABASE.— may have 5 legislative days within graph (2) shall be used for deficit reduction. ‘‘(1) FEDERAL AGENCIES.—The Adminis- which to revise and extend their re- ‘‘(b) EFFECT ON OTHER SECTIONS.—Nothing trator shall, in consultation with the Direc- marks and include extraneous mate- in this section is intended to affect section tor of the Office of Management and Budget, rials on the bill under consideration. 572(b), 573, or 574 of this title. make the database established and main- The SPEAKER pro tempore. Is there ‘‘(c) DISPOSAL AGENCY FOR REVERTED PROP- tained under this section available to other objection to the request of the gen- ERTY.—For the purposes of this section, for Federal agencies. any real property that reverts to the United ‘‘(2) PUBLIC ACCESS.—To the extent con- tleman from Utah? States under sections 550 and 553 of this title, sistent with national security, the database There was no objection. the General Services Administration, as the shall be accessible by the public at no cost Mr. CHAFFETZ. Mr. Speaker, I yield disposal agency, shall be treated as the agen- through the website of the General Services myself such time as I may consume. cy with custody and accountability for the Administration. H.R. 665, the Excess Federal Building real property at the time the real property is ‘‘(d) TRANSPARENCY OF DATABASE.—To the determined to be excess. and Property Disposal Act of 2012, was extent practicable, the Administrator shall favorably reported by voice vote by the ‘‘(d) NET PROCEEDS.—The net proceeds de- ensure that the database— scribed in this subsection are proceeds under ‘‘(1) uses an open, machine-readable for- Committee on Oversight and Govern- this chapter, less expenses of the transfer or mat; ment Reform in November of last year. disposition as provided in section 572(a) of ‘‘(2) permits users to search and sort Fed- I’m proud to be one of the sponsors of this title, from a— eral real property data; and this bill. There are 39 cosponsors of ‘‘(1) transfer of excess real property to a ‘‘(3) includes a means to download a large Federal agency for agency use; or this bill, and, in particular, I want to amount of Federal real property data and a ‘‘(2) sale, lease, or other disposition of sur- thank my colleague, the gentleman selection of such data retrieved using a plus real property. from Illinois (Mr. QUIGLEY) for his search. ‘‘(e) PROCEEDS FROM TRANSFER OR SALE OF great and passionate work on this, Mr. ‘‘(e) APPLICABILITY.—Nothing in this sec- PERSONAL PROPERTY.— tion may be construed to require an agency CONNOLLY, and Ms. NORTON. There are ‘‘(1) IN GENERAL.—Except as otherwise pro- to make available to the public information a number of people on both sides of the vided in this subchapter, proceeds described that is exempt from disclosure pursuant to aisle that have passionately worked on in paragraph (2) shall be deposited in the section 552(b) of title 5.’’. Treasury as miscellaneous receipts. this issue. (b) CLERICAL AMENDMENT.—The table of I’m proud to report, Mr. Speaker, ‘‘(2) PROCEEDS.—The proceeds described in sections at the beginning of chapter 5 of title this paragraph are proceeds under this chap- that this is very bipartisan in its na- 40, United States Code, is amended by insert- ture. I also want to thank our chair- ter from— ing after the item relating to section 529 the ‘‘(A) a transfer of excess personal property following new item: man, Chairman ISSA, who was very in- to a Federal agency for agency use; or ‘‘530. Federal real property database.’’. strumental in passing it out of com- ‘‘(B) a sale, lease, or other disposition of mittee to the floor, as well as Ranking surplus personal property. SEC. 8. SUSTAINABLE DISPOSAL OF PROPERTY. Member CUMMINGS and certainly our ‘‘(3) PAYMENT OF EXPENSES OF SALE BEFORE (a) IN GENERAL.—Subchapter III of chapter majority leader, Mr. CANTOR, for allow- DEPOSIT.—Subject to regulations under this 5 of title 40, United States Code, is amended subtitle, the expenses of the sale of personal by adding at the end the following new sec- ing and encouraging this bill to come property may be paid from the proceeds of tion: to the floor. So I appreciate the bipar- sale so that only the net proceeds are depos- ‘‘§ 560. Sustainable disposal of property tisan nature. ited in the Treasury. This paragraph applies ‘‘The head of each Federal agency shall di- These are the types of things that we whether proceeds are deposited as miscella- vert at least 50 percent of construction and should be doing as a body to make sure neous receipts or to the credit of an appro- demolition materials and debris by the end that we’re improving the process and priation as authorized by law.’’. of fiscal year 2015.’’. streamlining the disposal of real prop- (b) CLERICAL AMENDMENT.—The table of SEC. 7. FEDERAL REAL PROPERTY DATABASE. erty that happens in this country. Most (a) IN GENERAL.—Subchapter II of chapter 5 sections at the beginning of chapter 5 of title of title 40, United States Code, is amended by 40, United States Code, is amended by insert- are somewhat amazed to understand adding at the end the following new section: ing after the item relating to section 559 the that our Federal Government has ‘‘§ 530. Federal real property database following new item: roughly 900,000 buildings and structures ‘‘(a) DATABASE REQUIRED.—Not later than ‘‘560. Sustainable disposal of property.’’. under its ownership. The GAO in 2011 one year after the date of the enactment of SEC. 9. STREAMLINING THE MCKINNEY-VENTO estimated that the Federal Govern- this section, the Administrator of General HOMELESS ASSISTANCE ACT. ment holds 45,000 underutilized prop- Services shall publish a single, comprehen- Section 501 of the McKinney-Vento Home- erties that cost nearly $1.7 billion an- sive, and descriptive database of all Federal less Assistance Act (42 U.S.C. 11411) is nually in order to operate. And, again, amended— real property under the custody and control these are underutilized. In fact, more of all executive agencies, other than Federal (1) in subsection (a), by adding at the end real property excluded for reasons of na- the following new sentence: ‘‘Agencies shall recently, OMB Controller Daniel tional security, in accordance with sub- not be required to submit information to the Werfel testified before a Senate sub- section (b). Secretary regarding properties located in an committee that the government con- ‘‘(b) REQUIRED INFORMATION FOR DATA- area for which the general public is denied trols 14,000 excess and 76,000 underuti- BASE.—The Administrator shall collect from access in the interest of national security.’’; lized buildings and structures. That’s the head of each executive agency descrip- (2) in subsection (c)(1)(A), by striking ‘‘in going to happen when you consume and tive information, except for classified infor- the Federal Register’’ and inserting the fol- have so many Federal buildings. We mation, of the nature, use, and extent of the lowing: ‘‘on the website of the Department of Federal real property of each such agency, Housing and Urban Development or the Gen- have to make sure that we, as a gov- including the following: eral Services Administration’’; and ernment, are also streamlining and ‘‘(1) The geographic location of each Fed- (3) in subsection (d)(3), by adding at the moving forward with the disposal of eral real property of each such agency, in- end the following new sentence: ‘‘If no such these properties when they become

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00011 Fmt 4634 Sfmt 0634 E:\CR\FM\A20MR7.003 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1404 CONGRESSIONAL RECORD — HOUSE March 20, 2012 something that is not as frequently the Committee on Transportation and Infra- The Federal Government currently used. structure. maintains 14,000 buildings and struc- The Federal Government has accu- The Committee on Transportation and In- tures deemed ‘‘excess’’ and over 76,000 mulated excess properties because the frastructure also asks that you support our request to be conferees on the provisions properties identified as ‘‘underuti- disposal process is, in many ways, over which we have jurisdiction during any lized.’’ In fiscal year 2009, these under- flawed. In 2003 and in 2011, the GAO House-Senate conference. I would appreciate utilized buildings cost us $1.7 billion to designated Federal real property man- it if you would include a copy of this letter operate annually. agement as a high-risk area to the Fed- and of your response acknowledging our ju- The GAO has continuously found eral Government. Thus, I think, as an risdictional interest as part of the Congres- that many properties are no longer rel- independent group, going out, looking sional Record during consideration of the evant to their Agencies’ missions and and assessing the situation, have come bill by the House. that Agencies could do a better job of Thank you for your cooperation in this identifying and disposing of unneeded to the conclusion that we as the Fed- matter. eral Government believe this is a high- Sincerely, properties. H.R. 665, as amended, will risk area that costs well over $1 billion JOHN L. MICA, finally give Agencies the tools they a year, is starting to approach $2 bil- Chairman. need to quickly and efficiently dispose lion a year and that it certainly is in of unneeded Federal properties, result- need of some restructuring. HOUSE OF REPRESENTATIVES, COM- ing in huge savings to the government. So the Excess Federal Building and MITTEE ON OVERSIGHT AND GOV- First, H.R. 665 creates a 5-year pilot Property Disposal Act would stream- ERNMENT REFORM, program to expedite the sale of unused, Washington, DC, March 20, 2012. line the disposal of high-valued prop- high-value properties. The Office of Hon. JOHN L. MICA, erties while also overhauling the exist- Management and Budget, also with the Chairman, Committee on Transportation and General Services Administration, will ing disposal process. The bill creates a Infrastructure, Rayburn House Office 5-year pilot program that would expe- Building, Washington, DC. work with Agencies to dispose of 15 dite the disposal of Federal properties DEAR CHAIRMAN MICA: Thank you for your high-value properties. This list of prop- with the goal of maximizing profit. letter of March 19, 2012, regarding H.R. 665, erties for disposal will be a rolling list, Ninety-eight percent of the proceeds the Excess Federal Building and Property meaning, as properties are sold, addi- Disposal Act of 2011. Your assistance in expe- tional properties will be added to the under the pilot would be directed to diting consideration of the bill is very much the United States Treasury General list for disposal. Ninety-eight percent appreciated. of the proceeds from the sale of these Fund, and 2 percent would be author- I agree that there are provisions in the bill ized for use by homeless assistance pro- that are of jurisdictional interest to the high-valued properties will go straight viders, as has been the history of this Committee on Transportation and Infra- to the Treasury for deficit reduction government in the past. structure and I agree that by foregoing a re- while 2 percent will be set aside for a The bill also permanently stream- ferral the Committee on Transportation and grant to fund homeless assistance pro- lines the existing disposal process by Infrastructure is not waiving its jurisdiction. grams. I would be pleased to support the represen- In addition to the 5-year pilot, H.R. reducing administrative overhead, cre- tation of your Committee in any conference 665, as amended, modernizes the exist- ating new agency incentives, and re- on H.R. 665 on matters within the jurisdic- ing property disposal process and re- quiring greater transparency and ac- tion of the Committee on Transportation moves barriers to disposal. H.R. 665 em- countability from the federal agencies. and Infrastructure. And, as you have re- powers GSA to provide agencies with Again, this bill is bipartisan; it will di- quested, I will include this exchange of let- much needed technical expertise to dis- rect revenue to the United States ters in the Congressional Record. Thank you for your cooperation and your continued pose of unused and unneeded prop- Treasury; it reduces operating and erties. maintenance budgets; and it’s pre- leadership and support in surface transpor- tation matters. The bill also allows all Agencies to sented in a bipartisan way. Sincerely, use the proceeds generated from the I would encourage all of my col- DARRELL ISSA, sale of property, as authorized by Con- leagues to support this bill. The nature Chairman. gress, to cover the costs of disposal. and the approach that we’re taking I reserve the balance of my time. Currently, property disposal costs can here, I think, is just good government. Mr. QUIGLEY. Mr. Speaker, I yield be hugely expensive. Without the abil- It’s smarter, more streamlined, more myself such time as I may consume. ity to use the proceeds of a sale to efficient, and moves the ball in the I want to thank the chairman of the cover the costs of disposal, Agencies right direction. full committee, Mr. ISSA, for his have little incentive to dispose of these HOUSE OF REPRESENTATIVES, COM- staunch support of this bill, and I also properties. Any funds not used to pre- MITTEE ON TRANSPORTATION AND want to thank my good friend Mr. pare and dispose of property would be INFRASTRUCTURE, CHAFFETZ for working so closely with paid to the Treasury for debt reduc- Washington, DC, March 20, 2012. us to craft this bipartisan bill and in tion. Hon. DARRELL E. ISSA, working to get it to the floor today. Fi- Chairman, Committee on Oversight and Govern- H.R. 665, as amended, will also pro- ment Reform, Rayburn House Office Build- nally, I want to thank the ranking vide unprecedented transparency and ing, Washington, DC. member of the full committee, Mr. accountability to the Federal Govern- DEAR MR. CHAIRMAN: I am writing with re- CUMMINGS, for working with me on this ment’s property portfolio. The bill will spect to the jurisdictional interest of the important bill. require GSA to report to Congress an- Committee on Transportation and Infra- There could not be a better time to nually on the number, value, and main- structure in matters being considered in move a measure like this one through tenance costs of all Federal property. H.R. 665, the Excess Federal Building and the Congress. We are facing an This information will be made avail- Property Disposal Act of 2011, which was re- unsustainable budget deficit, and we able to the public at no cost in an on- ferred to the Committee on Oversight and Government Reform. must get our fiscal house in order. One line database. Our Committee recognizes the desire of the of the best ways to achieve much-need- Finally, this bipartisan bill reforms Committee on Oversight and Government ed reductions in spending is to create our property disposal process without Reform to move H.R. 665 expeditiously. efficiencies and cut waste. This is ex- creating a new bureaucracy, and is at Therefore, while we have a valid claim to ju- actly what this bipartisan measure ac- no cost to the Federal Government. risdiction over a number of provisions in the complishes. H.R. 665, as amended, passed unani- bill related to public buildings and improved mously through the Oversight and Gov- grounds of the United States and waivers of b 1230 ernment Reform Committee. I encour- certain no-cost conveyances, including those The Federal Government is the larg- age my colleagues to support this com- related to aviation and highways, I do not est property owner in the world, with monsense bill designed to improve gov- object to bringing the legislation to the floor an inventory of over 900,000 buildings without action by this Committee. This, of ernment efficiency and save the tax- course, is conditional on our mutual under- and structures and 41 million acres of payers billions. standing that nothing in this legislation or land. Yet we waste billions of tax dol- Again, I want to thank Mr. CHAFFETZ my decision to forego any referral waives, re- lars each year in maintaining prop- for his good work on a bipartisan effort duces or otherwise affects the jurisdiction of erties we no longer need. toward this extraordinary bill.

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00012 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.015 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1405 Mr. Speaker, I yield back the balance and dispose of their other properties. Net pro- The SPEAKER pro tempore. In the of my time. ceeds not used for such costs would be used opinion of the Chair, two-thirds being Mr. CHAFFETZ. Mr. Speaker, I have for deficit reduction. This provision will in the affirmative, the ayes have it. no additional speakers. I just want to incentivize agencies to move properties quick- Mr. CHAFFETZ. Mr. Speaker, on simply thank the gentleman from Illi- ly through the disposal process and will keep that I demand the yeas and nays. nois. He’s truly one who will stand on revenues moving into the Treasury. The yeas and nays were ordered. The SPEAKER pro tempore. Pursu- principle and work on both sides of the I am pleased that we have been able to ant to clause 8 of rule XX, further pro- aisle, and for that we’re very grateful produce a bipartisan solution to a problem that ceedings on this question will be post- and appreciative. This is what we are wastes taxpayer dollars maintaining unneeded poned. supposed to be doing, working in a bi- Federal buildings. I support H.R. 665 as partisan way. amended and I hope that we can get this leg- f H.R. 665, as amended, is a good bill. islation working for America as soon as pos- RECESS It’s good government, it’s something sible. The SPEAKER pro tempore. Pursu- we should do, and I would urge all of Mr. STEARNS. Mr. Speaker, I rise today in ant to clause 12(a) of rule I, the Chair my colleagues to support it. I appre- strong support of H.R. 665, the Excess Fed- declares the House in recess subject to ciate all the support from our leader- eral Building and Property Disposal Act of the call of the Chair. ship in making this point happen. 2011. This important bipartisan legislation will Accordingly (at 12 o’clock and 34 With that, Mr. Speaker, I yield back decrease the deficit by selling excess federal minutes p.m.), the House stood in re- the balance of my time. buildings and property by empowering the ex- cess. Mr. CUMMINGS. Mr. Speaker, I am in sup- ecutive branch to more quickly dispose of ex- f port of important legislation on Federal real cess federal property. This bill would also per- b 1347 property disposal. I believe that we have found manently modernize the existing disposal a bipartisan solution to the deficiencies that process through reductions in administrative AFTER RECESS currently exist in real property management in overhead. This bill also requires greater ac- The recess having expired, the House H.R. 665. countability from those responsible for federal was called to order by the Speaker pro The Federal Government has costly and property disposal. tempore (Mr. GINGREY of Georgia) at 1 pressing problems disposing of its unneeded The federal government owns a staggering o’clock and 47 minutes p.m. real property, which includes its public build- one-third of the United States and owns more ings and lands. As a result, the GAO has f real property than any other entity in America: placed this issue on its ‘‘high risk’’ list. PROVIDING FOR CONSIDERATION 900,000 buildings and structures covering 3.38 Unneeded and under-utilized buildings are lan- OF H.R. 2087, REMOVING RE- billion square feet. According to a February guishing in the Federal inventory when their STRICTIONS FOR ACCOMACK 10, 2011 Government Accountability Office sale could generate much-needed revenue for COUNTY LAND PARCEL (GAO) report, 24 federal agencies identified the national treasury. Maintenance of these 45,190 underutilized buildings that cost $1.66 Mr. BISHOP of Utah. Mr. Speaker, by buildings costs the government nearly $1.7 bil- billion annually to operate. More recently, Of- direction of the Committee on Rules, I lion in fiscal year 2010 alone. In tough times fice of Management and Budget Comptroller call up House Resolution 587 and ask like those we face today, this waste is simply Daniel Werfel testified before a Senate Sub- for its immediate consideration. unacceptable. committee that the government controls even The Clerk read the resolution, as fol- In this Congress, four separate pieces of more, with 14,000 excess buildings and struc- lows: legislation have been introduced to help solve tures and 76,000 underutilized properties. This H. RES. 587 the problem. H.R. 665 combines the best ele- large inventory of underutilized federal prop- Resolved, That at any time after the adop- ments of these legislative proposals and cre- tion of this resolution the Speaker may, pur- erty is the product of a convoluted and ineffi- ates a timely and workable method of dis- suant to clause 2(b) of rule XVIII, declare the cient disposal process. posing of excess Federal property while gen- House resolved into the Committee of the erating the highest possible financial returns. H.R. 665 works to correct this by estab- Whole House on the State of the Union for lishing a five-year pilot program, beginning on consideration of the bill (H.R. 2087) to re- The bill would establish a five-year pilot pro- move restrictions from a parcel of land situ- gram to dispose of the 15 highest value the date that the legislation is enacted, to dis- pose of excess federal property. The Director ated in the Atlantic District, Accomack unneeded Federal real properties. County, Virginia. The first reading of the The Federal Government will clearly gain of the Office of Management and Budget and bill shall be dispensed with. All points of from the disposal of these properties. Not only the Administrator of the General Services Ad- order against consideration of the bill are will the fair market value generate income, but ministration (GSA) would identify, with input waived. General debate shall be confined to we will realize significant savings by elimi- from federal agencies, the 15 excess prop- the bill and shall not exceed one hour equal- erties with the highest market value. These ly divided and controlled by the chair and nating maintenance and operating costs. ranking minority member of the Committee I also support H.R. 665 because it will pro- properties will be disposed of through public auction, and after one property is sold, the on Natural Resources. After general debate vide aid to organizations dedicated to helping the bill shall be considered for amendment those most vulnerable among us, the home- GSA will have 15 days to identify another under the five-minute rule. It shall be in less. This legislation permits Congress to ap- property to replace the auctioned property on order to consider as an original bill for the propriate the equivalent of two (2) percent of the list for disposal. Ninety-eight percent of purpose of amendment under the five-minute the proceeds from the sale of these properties profits will be deposited into the Treasury and rule the amendment in the nature of a sub- stitute recommended by the Committee on to fund grants to eligible organizations that 2 percent will be directed toward the Depart- ment of Housing and Urban Development to Natural Resources now printed in the bill. serve the homeless. This requirement pre- The committee amendment in the nature of serves our commitment to the goals of the provide grants for homeless assistance. a substitute shall be considered as read. All McKinney Vento Homeless Assistance Act. Selling off unused federal property would points of order against the committee This bill will also expand transparency sur- allow the federal government to focus our lim- amendment in the nature of a substitute are rounding the disposal of Federal property. It ited fiscal resources on maintaining the prop- waived. No amendment to the committee requires that GSA report annually to Congress erty the United States currently owns. I strong- amendment in the nature of a substitute shall be in order except those received for on the number, market value and deferred ly urge my colleagues to support the Excess Federal Building and Property Disposal Act to printing in the portion of the Congressional maintenance costs of all executive branch real Record designated for that purpose in clause property assets. The report would also include begin prioritizing the public auction of unused 8 of rule XVIII in a daily issue dated March ongoing operating costs of surplus properties federal property and reducing the nation’s $15 19, 2012, and except pro forma amendments so that we are always aware of the expenses trillion national debt. for the purpose of debate. Each amendment that empty, unused properties are incurring. The SPEAKER pro tempore. The so received may be offered only by the Mem- The public will also be able to access informa- question is on the motion offered by ber who caused it to be printed or a designee tion on all real Federal property through a the gentleman from Utah (Mr. and shall be considered as read if printed. At the conclusion of consideration of the bill for CHAFFETZ) that the House suspend the database required to be established by GSA. amendment the Committee shall rise and re- Agencies will also be allowed to retain the rules and pass the bill, H.R. 665, as port the bill to the House with such amend- net proceeds from the disposition of real prop- amended. ments as may have been adopted. Any Mem- erty, and use those funds to maintain, repair, The question was taken. ber may demand a separate vote in the

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00013 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.017 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1406 CONGRESSIONAL RECORD — HOUSE March 20, 2012 House on any amendment adopted in the I suspect that every Member of this The CBO viewed and scored this bill, Committee of the Whole to the bill or to the House would like to be able to pass leg- and concluded it would not cost money, committee amendment in the nature of a islation giving his or her constituents stating it ‘‘would have no significant substitute. The previous question shall be considered as ordered on the bill and amend- an $815,000 windfall. impact on the Federal budget.’’ ments thereto to final passage without inter- Mr. Speaker, either this is an ear- Moreover, this type of bill, clearing vening motion except one motion to recom- mark, and the majority should follow the title to land, has repeatedly been mit with or without instructions. its own rules and not bring this rule or approved when the House has been con- POINT OF ORDER the underlying bill to the floor, or this trolled by both Republicans and Demo- Mr. GRIJALVA. Mr. Speaker, this is not an earmark, and the waiver crats. The definition of an earmark is proposed rule seeks to waive House should be removed from the rule. Ei- clear. There has not been a fiscal im- rules requiring disclosure of any ear- ther way, the proposed rule is a clear pact, and this bill does not meet the marks in the underlying bill, H.R. 2087. violation of House rules and should not House rules definition used by either Therefore, pursuant to clause 9 of rule be taken up by this House. Democrats or Republicans. XXI of the rules of the House, I make Mr. Speaker, I reserve the balance of This is really a red herring to stop a point of order against consideration my time. economic development and the cre- of this rule. Mr. BISHOP of Utah. Mr. Speaker, I ation of jobs caused by lingering Fed- The SPEAKER pro tempore. The gen- yield myself such time as I may con- eral bureaucratic red tape. tleman from Arizona makes a point of sume. This county is one of the poorest order that the resolution violates I am obviously in favor of consider- counties in the Commonwealth of Vir- clause 9(b) of rule XXI. ation of this resolution. ginia, with more than 16 percent of its Under clause 9(b) of rule XXI, the The question before the House is: population living in poverty and a gentleman from Arizona and the gen- Shall the House now consider House higher rate of unemployment than the tleman from Utah each will control 10 Resolution 587? rest of Virginia. This very small bill, at minutes of debate on the question of While the resolution waives all no cost to the Federal taxpayer, will consideration. points of order against consideration of help to turn that around. Following the debate, the Chair will the bill, the committee is not aware of With that, Mr. Speaker, I reserve the put the question of consideration as any point of order. The waiver is a balance of my time. follows: ‘‘Will the House now consider complete waiver in nature. Mr. GRIJALVA. Mr. Speaker, under the resolution?’’ Note, there is not a specific waiver current law, the county controls these The Chair recognizes the gentleman against an earmark simply because the 32 acres of Federal land, but the deed from Arizona. bill contains no earmarks. It is in com- clearly states that the county may not Mr. GRIJALVA. Mr. Speaker, the pliance with the earmark definition sell or lease the land or use it for any- majority frequently congratulates provided for us in the House Rules, a thing other than public recreation. The itself for adopting a policy ‘‘banning’’ rule that goes back to, actually—to county received control of the land earmarks. Republican leadership often make the record complete—the 109th with those restrictions in 1976, free of points to the earmark ban as an impor- Session of Congress and the earmark charge. tant accomplishment in improving the ban instituted by the House Repub- The underlying bill, H.R. 2087, will legislative process. licans when they took the majority in remove all restrictions from the deed. It should be noted, for the record, the January of last year. The county would be free to sell the provision requiring the disclosure of As is required by House Rules, the land or lease it or do whatever it wants earmarks was inserted into the rules of committee report filed for this bill on with it and pocket any and all revenue. the House during the 110th Congress, January 18 includes a specific deter- This is clearly an $815,000 windfall for under a Democratic majority. mination and statement that the bill The American people might be sur- the county created specifically by this prised to learn that, despite claims of does not contain an earmark. I will bill. strict opposition to earmarks, the ma- quote from page 5 of the report: The Regardless of whether you agree the jority is bringing a proposed rule to the bill does not contain any congressional bill is an earmark, the proposal from House floor that would not only allow earmarks or limited tax benefits or the Rules Committee to waive the ear- an earmark in the underlying bill, but limited tariff benefits as defined by the mark disclosure rule should also be even waives the basic requirement that Rules of the House of Representatives. cause for concern. If H.R. 2087 contains such an earmark be disclosed. With all due respect to my friend no earmarks, why is the waiver nec- Clause 9 of rule XXI of the rules of from Arizona, each person may have essary? Why have an earmark disclo- the House specifically states that it his own perception of what an earmark sure rule if you just waive it every shall not be in order to consider a rule is, but, with all due respect, the term time you bring a bill to the floor? that waives the requirement to disclose ‘‘congressional earmark’’ means a pro- Any Member who has ever claimed to earmarks, and yet the rule the major- vision that provides or authorizes or oppose earmarks should insist that the ity is seeking to call up specifically recommends a specific amount of dis- rule waiving the disclosure require- states, ‘‘All points of order against cretionary budget authority, credit au- ment be rejected. consideration of the bill are waived.’’ thority, or other spending authority or With that, I reserve the balance of And the question of whether the un- expenditures with or to an entity. It my time. derlying bill, H.R. 2087, contains an has to have money involved in it. Mr. BISHOP of Utah. Mr. Speaker, earmark is critical. If enacted, the bill Specifically, the definition of an ear- once again, the rule does not waive an would transfer full ownership of Fed- mark requires that there be spending earmark, because there are no ear- eral land to a county in Virginia. All in the form directed to an entity or marks. It is a general waiver that is in parties agree the land has an appraised targeted geographically. This bill does there. If one were to look back at the value of $815,000, but the bill would not involve the spending of money or past three Congresses, official bills transfer this Federal land to the coun- loan authority or credit authority or that have been prepared that are very ty for free. The county is in the con- any other form of payment of funds. similar to this have also included the gressional district represented by the The land in question is already with same type of language and were deter- sponsor of the legislation. the county. It will remain with the mined as not to have an earmark. Spe- This is not county land; this is Fed- county. Whether we pass this bill or cifically, go back to H.R. 944 in the eral land. The county has been granted not, it is still with the county. The 112th Congress, H.R. 86 in the 111th limited authority to control this land only issue is the deed restriction, not Congress, H.R. 356 in the 110th Con- as long as it is used for public recre- the value of the land, not the transfer gress, H.R. 2246 in the 110th Congress, ation. According to the deed, the coun- of money. and S. 404 in the 112th Congress—same ty cannot sell the land or rent it or This parcel is with Virginia on Fed- language, same situation, same condi- lease it or develop it. Only H.R. 2087 eral land that at one time had a deed tion. will give the county this land with no restriction. It simply removes that Once again, the rules of our House limitation. deal. say this is not an earmark. The CBO

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00014 Fmt 4634 Sfmt 0634 E:\CR\FM\A20MR7.001 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1407 says it’s not an earmark, because it is they actually use this land in a logical, Meehan Rigell Southerland not an earmark. There is no transfer of rational manner, I can understand Mica Rivera Stearns Miller (FL) Roby Stivers money. The county has the land. The that. It still doesn’t mean that’s an Miller (MI) Roe (TN) Stutzman county will continue to have the land. earmark. Miller, Gary Rogers (AL) Sullivan The only thing this is about is the deed The point of order is a delay tactic of Mulvaney Rogers (KY) Terry Murphy (PA) Rogers (MI) restriction. Deed restrictions are not today’s consideration of this legisla- Thompson (PA) Myrick Rohrabacher Thornberry Neugebauer Rokita earmarks. tion. Tiberi Nugent Rooney I reserve the balance of my time. Sometimes in the past, a couple of Tipton Nunes Ros-Lehtinen b 1400 other Members who have declared what Nunnelee Roskam Turner (NY) I think are earmarks as non-earmarks Olson Ross (FL) Turner (OH) Mr. GRIJALVA. Mr. Speaker, read- have always used the old cliche if it Palazzo Royce Upton Walberg ing from the remarks to the Natural walks like a duck, quacks like a duck, Paulsen Runyan Resources subcommittee from Thurs- Pearce Ryan (WI) Walden it’s probably a duck. But as Hans Webster day, September 15, by the sponsor of Pence Scalise Christian Andersen told us, sometimes Petri Schilling West this legislation, he stated a recent ap- those ducks you perceive are actually Pitts Schmidt Westmoreland Platts Schweikert praisal valued the land at $815,000, the honking of a swan. This bill is a Whitfield which is more than $25,000 per acre. Poe (TX) Scott (SC) Wilson (SC) swan. This bill will help these people to Pompeo Scott, Austin There is economic gain for the coun- Wittman produce themselves. Posey Sensenbrenner Wolf ty, and waiving the disclosure only Price (GA) Sessions This point of order has no merit to it. Womack adds to the confusion that the public Quayle Shimkus In order to allow the House to continue Woodall Reed Shuster Yoder feels when we say we have a ban on Rehberg its scheduled business of the day, I Simpson Young (AK) earmarks and yet we are waiving rules Reichert Smith (NE) urge Members to vote ‘‘yes’’ on the Young (FL) that would disclose that and fully be Renacci Smith (NJ) question of consideration of this reso- Young (IN) transparent as to the kinds of decisions Ribble Smith (TX) lution. we’re making with public lands. I yield back the balance of my time. NAYS—172 The CBO is unable to value what pub- Ackerman Fattah Olver lic land is worth. It’s certainly here in The SPEAKER pro tempore. All time for debate has expired. Altmire Filner Owens the testimony of the sponsor of this Andrews Frank (MA) Pallone legislation. The appraisal value is list- The question is, Will the House now Baca Fudge Pascrell Baldwin Garamendi ed, and that, to me, leads to the con- consider the resolution? Pastor (AZ) Barrow Green, Al Pelosi clusion that this is an earmark and The question was taken; and the Becerra Green, Gene Speaker pro tempore announced that Perlmutter that the rule that is presently before Berkley Grijalva Peters us should be rejected. the ayes appeared to have it. Berman Gutierrez Peterson Mr. GRIJALVA. Mr. Speaker, on that Bishop (GA) Hahn Pingree (ME) I yield back the balance of my time. Bishop (NY) Hanabusa Polis I demand the yeas and nays. Blumenauer Hastings (FL) Mr. BISHOP of Utah. Let me try and Price (NC) Bonamici Heinrich once again put this in perspective. The yeas and nays were ordered. Quigley Boren Higgins The vote was taken by electronic de- Rahall The Federal Government, in and of Boswell Himes itself, owns no land, especially in one vice, and there were—yeas 227, nays Brady (PA) Hinchey Reyes 172, not voting 32, as follows: Braley (IA) Hinojosa Richardson of the original 13 States. Richmond [Roll No. 112] Brown (FL) Hochul Virginia had the land and gave it to Butterfield Holden Ross (AR) the Federal Government. In 1976, the YEAS—227 Capps Holt Rothman (NJ) Roybal-Allard Federal Government gave this back to Adams Dent Hensarling Capuano Hoyer Ruppersberger the county with a lease for a park and Aderholt DesJarlais Herger Cardoza Israel Ryan (OH) Alexander Diaz-Balart Herrera Beutler Carnahan Jackson Lee restrictions, a deed restriction only. ´ Amash Dreier Huelskamp Carney (TX) Sanchez, Linda There is no transfer of money if we Austria Duffy Huizenga (MI) Carson (IN) Johnson (GA) T. take away the deed restriction. There Bachmann Duncan (SC) Hultgren Castor (FL) Johnson, E. B. Sanchez, Loretta is no transfer of authority. The county Barletta Duncan (TN) Hunter Chandler Kaptur Sarbanes Chu Keating Schakowsky has it. The county will continue to Bartlett Ellmers Hurt Barton (TX) Emerson Issa Cicilline Kildee Schiff have it. Bass (NH) Farenthold Jenkins Clarke (MI) Kind Schrader The dollar value that was given was Benishek Fincher Johnson (IL) Clarke (NY) Kucinich Schwartz made up in the minds of the Depart- Berg Fitzpatrick Johnson (OH) Clay Langevin Scott (VA) Biggert Flake Johnson, Sam Cleaver Larsen (WA) Scott, David ment of the Interior. This county actu- Bilbray Fleischmann Jones Clyburn Levin Serrano ally said, if you really want more park- Bilirakis Fleming Jordan Cohen Lewis (GA) Sewell land, we will create 32 acres somewhere Bishop (UT) Flores Kelly Connolly (VA) Loebsack Sherman Conyers Lofgren, Zoe Black Forbes King (IA) Shuler else for more parkland. The Depart- Cooper Lowey Blackburn Fortenberry King (NY) Sires Costa Luja´ n ment of the Interior said, No, let’s have Bonner Foxx Kingston Slaughter Costello Lynch cash instead. They are the ones that Boustany Franks (AZ) Kissell Smith (WA) Courtney Maloney determined that this land was worth 25 Brooks Frelinghuysen Kline Speier Broun (GA) Gallegly Labrador Critz Markey grand an acre, asking almost a million Crowley Matheson Sutton Buchanan Gardner Lamborn Thompson (CA) dollars from one of the poorest coun- Bucshon Garrett Lance Cuellar Matsui Cummings McCollum Thompson (MS) ties. They came up with that on their Buerkle Gerlach Landry Tierney Burgess Gibbs Lankford Davis (CA) McDermott own. That does not mean it’s reality. DeFazio McGovern Tonko Burton (IN) Gibson Latham Towns The reality is the county has the Calvert Gingrey (GA) LaTourette DeGette McIntyre DeLauro McNerney Tsongas land. The county will continue to have Camp Gohmert Latta Visclosky Campbell Goodlatte LoBiondo Deutch Meeks the land. There is no transfer of dol- Walz (MN) Canseco Gosar Long Dicks Michaud Wasserman lars. There is no loss from taxpayers in Cantor Gowdy Lucas Dingell Miller (NC) Schultz America. Actually, these guys who live Capito Granger Luetkemeyer Donnelly (IN) Miller, George Waters Carter Graves (GA) Lummis Doyle Moore in Virginia are taxpayers, too. Trans- Watt Cassidy Graves (MO) Lungren, Daniel Edwards Moran ferring from one pocket to the other is Waxman Chabot Griffin (AR) E. Ellison Murphy (CT) a ridiculous requirement to place on Chaffetz Griffith (VA) Mack Engel Nadler Welch them, and all we’re talking about is a Coble Grimm Marchant Eshoo Napolitano Wilson (FL) deed restriction—how can we best use Coffman (CO) Guinta McCarthy (CA) Farr Neal Woolsey Cole Guthrie McCaul the land to actually help people. Conaway Hall McClintock NOT VOTING—32 Now, if the other side does not care Cravaack Hanna McCotter Akin Davis (IL) Honda about this county, does not care about Crawford Harper McHenry Amodei Doggett Jackson (IL) the 16 percent of the population living Crenshaw Harris McKeon Bachus Dold Kinzinger (IL) Culberson Hastings (WA) McKinley Bass (CA) Gonzalez Larson (CT) in poverty, does not care about the un- Davis (KY) Hayworth McMorris Bono Mack Hartzler Lee (CA) employment rate, does not care that Denham Heck Rodgers Brady (TX) Hirono Lewis (CA)

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00015 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.024 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1408 CONGRESSIONAL RECORD — HOUSE March 20, 2012 Lipinski Paul Van Hollen fashion, approved a transportation bill Here’s why if it’s passed it will work Manzullo Rangel Vela´ zquez that would be the biggest job creation toward job creation. Unlike so many Marino Rush Walsh (IL) McCarthy (NY) Schock Yarmuth measure this body has considered in measures that some have proposed, in- Noem Stark this Congress. But are we talking stead of looking to Washington to ac- b 1432 about a bipartisan job creation bill in tually spend more money or for Wash- the House? No. ington to do something, the folks of Messrs. WELCH, HEINRICH, Mrs. Instead of creating thousands of jobs Accomack County are simply asking MALONEY, and Mr. DAVID SCOTT of through a bipartisan transportation for the Federal Government to get out Georgia changed their vote from ‘‘yea’’ bill that has already passed the Senate, of the way and allow the greatest job- to ‘‘nay.’’ and just awaits our action, we are talk- producing engine the world has ever Messrs. BILBRAY and MCCARTHY of ing about an $800,000 earmark to ben- known, Mr. Speaker, the American en- California changed their vote from efit a single county in a single State. trepreneur, to go forward and to put ‘‘nay’’ to ‘‘yea.’’ And if somebody talked about the day’s hardworking folks to work and put pre- So the question of consideration was work that we were getting around to, cious and limited capital to work. decided in the affirmative. this is it. This bill simply removes a deed re- The result of the vote was announced In other words, instead of creating striction. That’s all it does. And this as above recorded. the millions of new jobs that would re- deed restriction is, in effect, a restric- A motion to reconsider was laid on sult from a strong bipartisan transpor- tion on job creation. It’s a restriction the table. tation bill, we’re spending the entire on much needed tax revenue that this Stated against: day debating a bill that affects 32 acres county so desperately needs. Sixteen Ms. HIRONO. Mr. Speaker, on rollcall No. of land in a single State. No other com- percent unemployment; sixteen per- 112, had I been present, I would have voted munity in America has received the cent of the folks there live at the pov- ‘‘nay.’’ kind of special treatment that is pro- erty level. PERSONAL EXPLANATION vided to a single community in this Accomack County is 90 percent agri- Mr. AKIN. Mr. Speaker, on rollcall Nos. 111 bill. This earmark hardly seems like a cultural, a bit of tourism, and then the and 112, I was delayed and unable to vote. fiscally responsible way to create jobs NASA Wallops Facility. This piece of Had I been present I would have voted ‘‘yea’’ and to protect the tax dollars of our property is adjacent to the NASA Wal- on both. hardworking American citizens. lops Facility; and presently, with this The SPEAKER pro tempore (Mr. This is not the first time the Federal deed restriction, they can’t use it at all YODER). The gentleman from Utah is Government has had to make decisions for any economic growth or oppor- recognized for 1 hour. about transferring public lands to new tunity. Removing this deed restriction Mr. BISHOP of Utah. For purposes of uses. Fortunately, there is an estab- will allow the board of supervisors debate only, I yield the customary 30 lished procedure in existing law to en- there to move forward with their Wal- minutes to the gentlelady from New sure that the taxpayers get just com- lops Research Park. They are desperate York (Ms. SLAUGHTER), pending which I pensation in such cases. We are being to get this done, and I am ready to help yield myself such time as I may con- asked today to ignore that. Instead of them today. Mr. Speaker, as I mentioned earlier, sume. During consideration of this res- letting the National Park Service and this bill enjoyed bipartisan support in olution, all time yielded is for the pur- the local community handle the trans- committee. It does not require any pose of debate only. fer of this land in the tried-and-true money coming from the Federal Gov- GENERAL LEAVE way, the majority proposes making a ernment. We’re simply asking for the Mr. BISHOP of Utah. I ask unani- one-time exception—an $800,000 ear- Federal Government to get out of the mous consent that all Members have 5 mark for a single community. legislative days in which to revise and If this majority were serious about way and let the hardworking folks of extend their remarks. job creation, we would right now be Accomack County get on with job cre- The SPEAKER pro tempore. Is there discussing the Senate-passed transpor- ation. Ms. SLAUGHTER. I just wish to objection to the request of the gen- tation bill. But instead, as I said be- make a comment or two. The most un- tleman from Utah? fore, we’ve spent an entire day of this usual thing about this bill is that when There was no objection. week debating 32 acres of land. we have a Federal land swap and a deed Mr. BISHOP of Utah. The resolution I urge my colleagues to vote ‘‘no’’ on that goes with it, they’re always the provides for a modified open rule for the rule and the underlying legislation. the consideration of H.R. 2087, a bill to I reserve the balance of my time. same—you can use this land for public remove certain restrictions from a par- Mr. BISHOP of Utah. Mr. Speaker, I purposes. Should you decide not to use cel of land that’s situated in the Atlan- am pleased to yield 4 minutes to the this land for public purposes, it reverts tic District of Accomack County, in sponsor of this bill, who will once again to the government. It’s as simple as Virginia. It provides for 1 hour of gen- try to describe to this body how this that. So what we’re doing now is giving eral debate equally divided and con- county land should stay with the coun- away $800,000 that belongs to my con- trolled by the chairman and ranking ty and needs to be dealt with by the stituents, your constituents, and ev- minority member of the Committee on county and all we have to do is remove erybody else’s constituents. We’re giv- Natural Resources. This rule makes in an unnecessary restriction on its deed. order all amendments that were With that, I yield 4 minutes to the ing away the tax money. I have got a good idea because there’s a Democrat preprinted in the CONGRESSIONAL gentleman from Virginia (Mr. RIGELL). amendment today that can remedy RECORD and which otherwise comply Mr. RIGELL. I thank the gentleman with the rules of the House. from Utah. that, and it says the county can pay for So this modified rule is a very fair Mr. Speaker, it’s a real privilege the land with the revenues they get rule. It is a generous rule. It will pro- today to speak on behalf of the bill from developing the land and renting it vide for a balanced and open debate on that I’m introducing. It is indeed a jobs out. That way we’ll get our money the merits of this bill that is not an bill. It is a bill that reflects common back; the county should be very happy; earmark. sense. It’s a bill that reflects common and we hope that a lot of jobs are cre- I reserve the balance of my time. ground. And I think, importantly, it ated there. Ms. SLAUGHTER. Mr. Speaker, I reflects the wisdom and the will of the b 1440 thank the gentleman from Utah, my good, hardworking residents of May I inquire, Mr. Speaker, if my colleague (Mr. BISHOP), for yielding me Accomack County in Virginia, whom I colleague is ready to close? the customary 30 minutes, and yield have the privilege of representing. It Mr. BISHOP of Utah. I would be more myself such time as I may consume. enjoyed bipartisan support in coming than happy to close at any time you We begin yet another week of inac- out of committee, and it enjoys and are ready. tion in the House of Representatives. should enjoy and merits today bipar- Ms. SLAUGHTER. I am ready. Last week, our colleagues in the Sen- tisan support when it comes before the In closing today, let me reiterate ate, working together in a bipartisan full House for a vote. what I’ve said all along: This is not a

VerDate Mar 15 2010 03:57 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00016 Fmt 4634 Sfmt 0634 E:\CR\FM\A20MR7.004 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1409 jobs bill. It does nothing to put mil- to do something that is common sense, said he was more than willing to pay lions of unemployed Americans back to simply use the land for the purpose in back the $250.67 that he owed the gov- work. By considering this bill, the ma- which it best suits the needs of the peo- ernment. jority has made a decision that it is ple. But that wasn’t good enough for the more important to vote on an earmark I don’t know why the Department of inspector general. That acting inspec- than to vote on a transportation bill the Interior, in its infinite wisdom, de- tor general wanted a court-martial be- that would create thousands of jobs, cides they want to tell the county in cause that was what the rules where. perhaps millions, throughout the Virginia what is best for Virginia, but That acting inspector general had this United States and had strong, bipar- that is exactly what they are trying to blind fetish for fealty to follow rules tisan support. We must do something do by being hard-nosed, not on a law, because that’s what bureaucrats al- because, as we know, the current legis- but on an internal rule from the De- ways want to do. Fortunately, there lation will expire at the end of this partment of the Interior. was a commanding officer that realized month. Look, this government already con- that this young Army officer had a tal- If the House passes today’s legisla- trols 1 out of every 3 acres in this Na- ent and an ability and intervened and tion, we will have taken a vote, but we tion. One-third of America is con- allowed General, then Lieutenant, Ei- will not have helped the American peo- trolled by the Federal Government. senhower simply to pay the $250.67 and ple. We all know we were not sent here That means the Federal Government’s get on with it. to avoid solving the pressing problems in-holdings are larger than any coun- It is amazing to consider what this facing our constituents, and we cer- try’s in the world, with the exception Nation and what this world would be tainly weren’t sent here to spend our of Russia’s and Canada’s. That’s what like if Lieutenant Eisenhower had ac- days giving away public land so one we already have. And yet the Depart- tually been court-martialed over county in one State could receive a ment of the Interior is straining over $250.67 because that was the rule. windfall while all the rest of the tax- 32 acres that shouldn’t be a park and We have the same situation, 32 acres payers get nothing. that need to be used to help the people that is useless. Right now it has no I urge my colleagues to get back to of this particular county, and that is purpose. It sits there, and the Federal the single biggest problem facing the simply illogical. It is irrational. Government wants to deny a county in country—the lack of jobs—and to vote I have faced similar circumstances in Virginia the ability to do something on the bipartisan Senate transpor- countless bills that we have had and useful to help people on 32 acres be- tation bill, which easily passed the passed before this body. There was pub- cause it violates their internal rule. Senate 74–22. Until we do, we are just lic land in the middle of Park City in There has to be some time when com- treading water as our roads, bridges, my district that was controlled by the mon sense takes over and we actually and highways crumble and our con- Bureau of Land Management. They do things because it’s the right thing stituents are neglected. didn’t need it; they didn’t want it; they to do, because it is the better thing to I urge my colleagues to vote ‘‘no’’ on didn’t use it. It was actually being oc- do. today’s rule and the underlying legisla- cupied by squatters. The city had no Fortunately, there was an officer in tion, and I yield back the balance of control over it because it was public Texas that realized, in the case of Gen- my time. land, and yet the Department of the In- eral Eisenhower, common sense should Mr. BISHOP of Utah. Mr. Speaker, I terior did not want to let go of that take over. It would be nice, it would be am very pleased to speak in favor of land because the control was already wonderful if, within the Department of the underlying bill. The gentleman there. the Interior, there were some element from Virginia (Mr. RIGELL) knows his We passed another bill earlier that of common sense that said it is stupid constituents; he knows the needs there went through the House and the Senate what we are doing with this land. We and has worked very hard for their ben- that transferred land that the Forest need simply to use common sense and efit. Service had that they didn’t even know use the land for a better, better pur- This, as we already discussed and they had. We had to do a title search to pose. voted, is not an earmark. The gentle- remind them, oh, yeah, that actually is There is no transfer of land. The lady from New York introduced a her- ours. They didn’t need it; they didn’t county has it. If we don’t pass this bill, itage area for Niagara Falls that got want it; they didn’t use it; and after 6 the county will still have it. They just $10 million sent from the Federal Gov- years, we finally got them to give it up can’t use it effectively. ernment to that place. That was offi- so it could be used for a better purpose. If we pass this bill, there will be no cially not an earmark. This bill has no We have another bill for 2 acres in transfer of money. All you’re saying is money going anywhere. The land is the Alta that the Park Service doesn’t the county can use the county’s land to county’s, no exchange of profit whatso- want to give up, for whatever reason, do something the county needs to help ever. There is no earmark, and there is even though on that 2 acres there is al- the people in that county. And, hon- no money being exchanged. ready the city building, a public safety estly, should that not be our goal? Is This land was originally Virginia’s building, and public bathrooms for the that not our purpose, to actually use land. They gave it to the Federal Gov- community and those that go to that common sense? Or do we have the bu- ernment for a Federal purpose. Thirty- ski resort; and yet the Forest Service, reaucratic blood running through our six years ago, the Federal Government, in this case, doesn’t want to give that veins that we put these little blinders in no longer needing the land, gave it up for whatever reason there may be. on and, unless we check the right box, back to this county for a public park. Mr. Speaker, we were just in a hear- it doesn’t matter if it helps, it doesn’t As a public park, it is useless. Now ing earlier this morning that dealt matter if it’s good, it doesn’t matter if that’s the common bond here. It is not with a proposed Eisenhower memorial. it’s possible, we won’t do it because of needed as a park; it is not used as a In all due respect, I just recently read our internal rules? park; there is no parking; it is inacces- a biography of Eisenhower. When he That is, indeed, where this country sible; and it is lousy for that purpose. was just a lieutenant in the Army, he and this Congress has come. There is The county, though, would like to use had his first child, and he applied for something definitely wrong with us. their land to do economic development and received permission for a housing This rule is a fair rule. It will provide because that is where it is and for what increase that he thought he deserved for a good debate. It provides for all it would best be used, how it would and so did the commanding officer who those amendments that were help the public and the general good if approved that housing increase. A lit- preprinted and are in order to be de- it were used for economic development. tle while later, they did an audit, and bated here on the floor. All they need is the Federal Govern- the acting inspector general did an Let us proceed forward with this bill. ment to graciously grant a deed re- audit and found out that there was a Let’s help this county that desperately striction, which they refuse to do—for technicality to which General Eisen- needs our help and that desperately whatever purpose, no one really knows, hower was not entitled to that housing needs us just to use some good, old- but they won’t do it. That is why the increase. When he was confronted with fashioned common sense. Vote ‘‘yes’’ county needs to keep the county land, that, he immediately apologized and on this amendment.

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00017 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.029 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1410 CONGRESSIONAL RECORD — HOUSE March 20, 2012 I yield back the balance of my time, Southerland Turner (NY) Wilson (SC) EXCESS FEDERAL BUILDING AND Stearns Turner (OH) Wittman and I move the previous question on Stivers Upton Wolf PROPERTY DISPOSAL ACT OF 2012 the resolution. Stutzman Walberg Womack The SPEAKER pro tempore (Mr. The previous question was ordered. Sullivan Walden Woodall Terry Webster Yoder GARDNER). The unfinished business is The SPEAKER pro tempore. The Thornberry West Young (AK) the vote on the motion to suspend the question is on the resolution. Tiberi Westmoreland Young (FL) rules and pass the bill (H.R. 665), to es- The question was taken; and the Tipton Whitfield Young (IN) tablish a pilot program for the expe- Speaker pro tempore announced that NAYS—170 dited disposal of federal real property, the ayes appeared to have it. Ackerman Fattah Owens as amended, on which the yeas and Ms. SLAUGHTER. Mr. Speaker, on Altmire Filner Pallone nays were ordered. that I demand the yeas and nays. Andrews Frank (MA) Pascrell The Clerk read the title of the bill. The yeas and nays were ordered. Baca Fudge Pastor (AZ) The SPEAKER pro tempore. The The SPEAKER pro tempore. Pursu- Barrow Garamendi Pelosi Bass (CA) Green, Al Perlmutter question is on the motion offered by ant to clause 8 of rule XX, this 15- Becerra Green, Gene Peters the gentleman from Utah (Mr. minute vote on adoption of House Res- Berkley Grijalva Peterson CHAFFETZ) that the House suspend the olution 587 will be followed by a 5- Berman Gutierrez Pingree (ME) Bishop (GA) Hahn rules and pass the bill, as amended. minute vote on the motion to suspend Polis Bishop (NY) Hanabusa Price (NC) This is a 5-minute vote. the rules and pass H.R. 665. Blumenauer Hastings (FL) Quigley The vote was taken by electronic de- The vote was taken by electronic de- Bonamici Higgins Rahall Boren Himes vice, and there were—yeas 403, nays 0, vice, and there were—yeas 232, nays Reyes not voting 28, as follows: Boswell Hinchey Richardson 170, not voting 29, as follows: Brady (PA) Hinojosa Richmond [Roll No. 114] Braley (IA) Hirono [Roll No. 113] Ross (AR) Butterfield Hochul YEAS—403 Rothman (NJ) YEAS—232 Capps Holden Roybal-Allard Ackerman Clay Gingrey (GA) Capuano Holt Adams Frelinghuysen McCaul Ruppersberger Adams Cleaver Gohmert Cardoza Honda Aderholt Gallegly McClintock Ryan (OH) Aderholt Clyburn Goodlatte Carnahan Hoyer Alexander Gardner McCotter Sa´ nchez, Linda Alexander Coble Gosar Carney Israel Amash Garrett McHenry T. Altmire Coffman (CO) Gowdy Carson (IN) Jackson Lee Amodei Gerlach McIntyre Sanchez, Loretta Amash Cohen Granger Castor (FL) (TX) Austria Gibbs McKeon Sarbanes Amodei Cole Graves (GA) Chandler Johnson, E. B. Bachmann Gibson McKinley Schakowsky Andrews Conaway Graves (MO) Barletta Gingrey (GA) McMorris Chu Kaptur Austria Connolly (VA) Green, Al Cicilline Keating Schiff Bartlett Gohmert Rodgers Schrader Baca Conyers Green, Gene Barton (TX) Goodlatte Mica Clarke (MI) Kildee Bachmann Cooper Griffin (AR) Clarke (NY) Kind Schwartz Bass (NH) Gosar Michaud Scott (VA) Baldwin Costa Griffith (VA) Benishek Gowdy Miller (FL) Clay Kucinich Barletta Costello Grijalva Cleaver Larsen (WA) Scott, David Berg Granger Miller (MI) Serrano Barrow Courtney Grimm Biggert Graves (GA) Clyburn Larson (CT) Bartlett Cravaack Miller, Gary Sewell Guinta Bilbray Graves (MO) Mulvaney Cohen Levin Barton (TX) Crawford Guthrie Sherman Bilirakis Griffin (AR) Murphy (PA) Connolly (VA) Lewis (GA) Bass (CA) Crenshaw Gutierrez Shuler Bishop (UT) Griffith (VA) Myrick Conyers Loebsack Bass (NH) Critz Hahn Sires Black Grimm Neugebauer Cooper Lofgren, Zoe Becerra Crowley Hall Slaughter Blackburn Guinta Noem Costa Lowey Benishek Cuellar Hanabusa Smith (WA) Bonner Guthrie Nugent Costello Luja´ n Berg Culberson Hanna Speier Boustany Hall Nunes Courtney Lynch Berkley Cummings Harper Stark Brady (TX) Hanna Nunnelee Critz Maloney Berman Davis (CA) Harris Sutton Brooks Harper Olson Crowley Markey Biggert Davis (KY) Hartzler Thompson (CA) Broun (GA) Harris Palazzo Cuellar Matsui Bilbray DeFazio Hastings (FL) Thompson (MS) Buchanan Hartzler Paulsen Cummings McCarthy (NY) Bilirakis DeGette Hastings (WA) Bucshon Hastings (WA) Pearce Davis (CA) McCollum Tierney Bishop (GA) DeLauro Hayworth Buerkle Hayworth Pence DeFazio McDermott Tonko Bishop (NY) Denham Heck Burgess Heck Petri DeGette McGovern Towns Bishop (UT) Dent Heinrich Burton (IN) Heinrich Pitts DeLauro McNerney Tsongas Black DesJarlais Hensarling Calvert Hensarling Platts Deutch Meeks Visclosky Blackburn Deutch Herger Camp Herger Poe (TX) Dicks Miller (NC) Walz (MN) Blumenauer Diaz-Balart Herrera Beutler Campbell Herrera Beutler Pompeo Dingell Miller, George Wasserman Bonamici Dicks Higgins Canseco Huelskamp Posey Donnelly (IN) Moore Schultz Bonner Dingell Himes Cantor Huizenga (MI) Price (GA) Doyle Moran Waters Boren Donnelly (IN) Hinchey Capito Hultgren Quayle Edwards Murphy (CT) Watt Boswell Doyle Hinojosa Carter Hunter Reed Ellison Nadler Waxman Boustany Dreier Hirono Cassidy Hurt Rehberg Engel Napolitano Welch Brady (PA) Duffy Hochul Chabot Issa Reichert Eshoo Neal Wilson (FL) Brady (TX) Duncan (SC) Holden Chaffetz Jenkins Renacci Farr Olver Woolsey Braley (IA) Duncan (TN) Holt Coble Johnson (IL) Ribble Brooks Edwards Honda Coffman (CO) Johnson (OH) Rigell NOT VOTING—29 Broun (GA) Ellison Hoyer Cole Johnson, Sam Rivera Akin Johnson (GA) Rangel Brown (FL) Ellmers Huelskamp Conaway Jones Roby Bachus Kinzinger (IL) Rush Buchanan Emerson Huizenga (MI) Cravaack Jordan Roe (TN) Baldwin Langevin Schock Bucshon Engel Hultgren Crawford Kelly Rogers (AL) Bono Mack Lee (CA) Sessions Buerkle Eshoo Hunter Crenshaw King (IA) Rogers (KY) Burgess Farenthold Hurt Brown (FL) Lewis (CA) Thompson (PA) Culberson King (NY) Rogers (MI) Burton (IN) Farr Israel Davis (IL) Lipinski Van Hollen Davis (KY) Kingston Rohrabacher Butterfield Fattah Issa Doggett Manzullo Vela´ zquez Denham Kissell Rokita Calvert Filner Jackson Lee Dold Marino Walsh (IL) Dent Kline Rooney Gonzalez Meehan Camp Fincher (TX) Yarmuth DesJarlais Labrador Ros-Lehtinen Jackson (IL) Paul Campbell Fitzpatrick Jenkins Diaz-Balart Lamborn Roskam Canseco Flake Johnson (IL) Dreier Lance Ross (FL) Cantor Fleischmann Johnson (OH) Duffy Landry Royce b 1517 Capito Fleming Johnson, E. B. Duncan (SC) Lankford Runyan Capps Flores Johnson, Sam Duncan (TN) Latham Ryan (WI) Mr. LUJA´ N, Ms. HAHN, and Mr. Capuano Forbes Jones Ellmers LaTourette Scalise HONDA changed their vote from ‘‘yea’’ Cardoza Fortenberry Jordan Emerson Latta Schilling Carnahan Foxx Kaptur Farenthold LoBiondo Schmidt to ‘‘nay.’’ Carney Frank (MA) Keating Fincher Long Schweikert Mr. BRADY of Texas changed his Carson (IN) Franks (AZ) Kelly Fitzpatrick Lucas Scott (SC) Carter Frelinghuysen Kildee Flake Luetkemeyer Scott, Austin vote from ‘‘nay’’ to ‘‘yea.’’ Cassidy Fudge Kind Fleischmann Lummis Sensenbrenner So the resolution was agreed to. Castor (FL) Gallegly King (IA) Fleming Lungren, Daniel Shimkus Chabot Garamendi King (NY) Flores E. Shuster The result of the vote was announced Chaffetz Gardner Kingston Forbes Mack Simpson as above recorded. Chu Garrett Kissell Fortenberry Marchant Smith (NE) Cicilline Gerlach Kline Foxx Matheson Smith (NJ) A motion to reconsider was laid on Clarke (MI) Gibbs Kucinich Franks (AZ) McCarthy (CA) Smith (TX) the table. Clarke (NY) Gibson Labrador

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00018 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.030 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1411 Lamborn Olver Schweikert RESIGNATIONS AS MEMBERS OF REMOVING RESTRICTIONS FOR Lance Owens Scott (SC) Landry Palazzo Scott (VA) COMMITTEE ON SCIENCE, SPACE, ACCOMACK COUNTY LAND PARCEL Langevin Pallone Scott, Austin AND TECHNOLOGY Mr. HASTINGS of Washington. Mr. Lankford Pascrell Scott, David Larsen (WA) Pastor (AZ) Sensenbrenner The SPEAKER pro tempore (Mr. Speaker, I ask unanimous consent that Larson (CT) Paulsen Serrano WEST) laid before the House the fol- all Members may have 5 legislative Latham Pearce Sewell lowing resignations as members of the days in which to revise and extend LaTourette Pelosi Sherman Committee on Science, Space, and their remarks and include extraneous Latta Pence Shimkus Levin Perlmutter Shuler Technology: material on the bill, H.R. 2087. Lewis (GA) Peters Shuster HOUSE OF REPRESENTATIVES, The SPEAKER pro tempore. Is there LoBiondo Peterson Simpson WASHINGTON, DC, objection to the request of the gen- Loebsack Petri Sires March 20, 2012. tleman from Washington? Lofgren, Zoe Pingree (ME) Slaughter Long Pitts Smith (NE) Hon. JOHN BOEHNER, There was no objection. Lowey Platts Smith (NJ) Speaker, House of Representatives, The SPEAKER pro tempore. Pursu- Lucas Poe (TX) Smith (TX) Washington, DC. ant to House Resolution 587 and rule Luetkemeyer Polis Smith (WA) DEAR SPEAKER BOEHNER: In order to rejoin XVIII, the Chair declares the House in Luja´ n Pompeo Southerland the Committee on Energy and Commerce, I Lummis Posey Speier hereby resign my seat on the Science, Space, the Committee of the Whole House on Lungren, Daniel Price (GA) Stark and Technology Committee and the Natural the state of the Union for the consider- E. Price (NC) Stearns ation of the bill, H.R. 2087. Lynch Quayle Stivers Resources Committee, effective today. Mack Quigley Stutzman Sincerely, b 1529 Maloney Rahall Sullivan JOHN P. SARBANES, Marchant Reed Sutton Member of Congress. IN THE COMMITTEE OF THE WHOLE Matheson Rehberg Terry Accordingly, the House resolved Matsui Reichert Thompson (CA) HOUSE OF REPRESENTATIVES, McCarthy (CA) Renacci Thompson (MS) itself into the Committee of the Whole ASHINGTON McCarthy (NY) Reyes Thompson (PA) W , DC, House on the state of the Union for the McCaul Ribble Thornberry March 20, 2012. consideration of the bill (H.R. 2087) to McClintock Richardson Tiberi Hon. JOHN BOEHNER, remove restrictions from a parcel of McCollum Richmond Tierney Speaker, House of Representatives, McCotter Rigell Tipton Washington, DC. land situated in the Atlantic District, McDermott Rivera Tonko DEAR MR. SPEAKER: Please accept my res- Accomack County, Virginia, with Mr. McGovern Roby Towns ignation from the House Committee on GARDNER in the chair. McHenry Roe (TN) Tsongas McIntyre Rogers (AL) Turner (NY) Science, Space, and Technology (SST), effec- The Clerk read the title of the bill. McKeon Rogers (KY) Turner (OH) tive immediately. I have been pleased to The CHAIR. Pursuant to the rule, the McKinley Rogers (MI) Upton serve on the SST Committee during the bill is considered read the first time. McMorris Rohrabacher Visclosky 112th Congress. However, this resignation is The gentleman from Washington (Mr. Rodgers Rokita Walberg necessitated by the recent vacancy on, and HASTINGS) and the gentleman from Ari- McNerney Rooney Walden my assignment to, the House Committee on Meeks Ros-Lehtinen Walz (MN) Education and the Workforce. zona (Mr. GRIJALVA) each will control Mica Roskam Wasserman Thank you. 30 minutes. Michaud Ross (AR) Schultz The Chair recognizes the gentleman Miller (FL) Ross (FL) Waters Best Regards, Miller (MI) Rothman (NJ) Watt MARCIA L. FUDGE, from Washington. Miller (NC) Roybal-Allard Waxman Member of Congress. Mr. HASTINGS of Washington. Mr. Miller, George Royce Webster Chairman, I yield myself such time as Moore Runyan Welch The SPEAKER pro tempore. Without Moran Ruppersberger West objection, the resignations are accept- I may consume. Mulvaney Ryan (OH) Westmoreland ed. I rise today in support of H.R. 2087, Murphy (CT) Ryan (WI) Whitfield There was no objection. an authentic, no-cost jobs bill aimed at Murphy (PA) Sa´ nchez, Linda Wilson (FL) removing government hurdles to eco- Myrick T. Wilson (SC) Nadler Sanchez, Loretta Wittman f nomic development. Napolitano Sarbanes Wolf This bill by the gentleman from Vir- Neal Scalise Womack ginia (Mr. RIGELL) would allow Neugebauer Schakowsky Woodall ELECTING MEMBERS TO CERTAIN Noem Schiff Woolsey Accomack County in Virginia to move STANDING COMMITTEES OF THE forward with plans to develop—and, Nugent Schilling Yoder HOUSE OF REPRESENTATIVES Nunes Schmidt Young (AK) Mr. Chairman, I want to say this very Nunnelee Schrader Young (FL) Mr. LARSON of Connecticut. Mr. explicitly—not 32 million, not 320,000, Olson Schwartz Young (IN) Speaker, by direction of the Demo- not 320—a 32-acre parcel of land adja- NOT VOTING—28 cratic Caucus, I offer a privileged reso- cent to a NASA airstrip into a tech- Akin Kinzinger (IL) Rangel lution and ask for its immediate con- nology and research facility. Bachus Lee (CA) Rush sideration. Currently, the parcel has a restric- Bono Mack Lewis (CA) Schock Chandler Lipinski Sessions The Clerk read the resolution, as fol- tion limiting use of the property to Davis (IL) Manzullo Van Hollen lows: recreational purposes. This was a con- Doggett Marino Vela´ zquez H. RES. 590 dition placed on the property when the Dold Markey Walsh (IL) Resolved, That the following named Mem- county obtained the deed through the Gonzalez Meehan Yarmuth Jackson (IL) Miller, Gary bers be and are hereby elected to the fol- Federal Land to Park program in 1976. Johnson (GA) Paul lowing standing committees of the House of Unfortunately, the park has been of lit- ANNOUNCEMENT BY THE SPEAKER PRO TEMPORE Representatives: tle benefit to the community. Though The SPEAKER pro tempore (during (1) COMMITTEE ON EDUCATION AND THE WORK- the county has made diligent efforts, FORCE.—Ms. Fudge. the vote). There is 1 minute remaining. the park has fallen out of use and is (2) COMMITTEE ON ENERGY AND COMMERCE.— currently overgrown and unmain- b 1526 Mr. Sarbanes. tained. So (two-thirds being in the affirma- Mr. LARSON of Connecticut (during Now Accomack County has found a tive) the rules were suspended and the the reading). Mr. Speaker, I ask unani- better way to serve its citizens, and bill, as amended, was passed. mous consent that the resolution be has determined that with this legisla- The result of the vote was announced considered as read and printed in the tion they can create hundreds of short- as above recorded. RECORD. term and long-term jobs. A motion to reconsider was laid on The SPEAKER pro tempore. Is there the table. objection to the request of the gen- b 1530 PERSONAL EXPLANATION tleman from Connecticut? Mr. Chairman, again, this property is Mr. AKIN. Mr. Speaker, on rollcall Nos. 113 There was no objection. already owned by Accomack County, and 114, I was delayed and unable to vote. The resolution was agreed to. not the Federal Government. Congress Had I been present I would have voted ‘‘yea’’ A motion to reconsider was laid on created the program that allowed the on both. the table. county to take title to this land. The

VerDate Mar 15 2010 03:54 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00019 Fmt 4634 Sfmt 0634 E:\CR\FM\A20MR7.027 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1412 CONGRESSIONAL RECORD — HOUSE March 20, 2012 purpose at that time was to help com- I should note for clarification, as we I appreciate the opportunity, Mr. munities like this do exactly what the go forward with this debate, that this Chairman, to come before this body bill says it should do. Congress has the is not county land. This is Federal today and make the case that this is authority to do this, and it should have land. The county is allowed to control wonderful and strong legislation that the common sense to allow the county this land as long as it is used for the should be moved forward for one pur- to do this. recreational purposes in the agree- pose: job creation in the Common- But there have been concerns raised ment. If this were county land, we wealth of Virginia and, specifically, in that this bill would create a precedent would not be here. The county can’t Accomack County. leading to an avalanche of these types sell the land. The county can’t lease It, indeed, is a jobs bill. It reflects of requests. Let’s be clear: This is sim- the land. The county can’t rent the common sense. It reflects common ply one specific proposal dealing with land. The county does not own the ground. It came out of committee with one parcel of land totaling 32 acres— land. This bill gives Federal land away bipartisan support. And I think most not 32,000, not 320 million, just 32 acres. for free. importantly, Mr. Chairman, it reflects To put this into perspective, there Examples of successful projects in- the collective wisdom and the will of are nearly 170,000 acres of land that clude: 195 acres that went to the City the hardworking taxpayers of have been transferred to State and of Ogden, Utah, for the Ogden Nature Accomack County. local governments through the Federal Center, Rodeo, and Fairgrounds; 97 Here is why, Mr. Chairman, this bill, Lands to Park program. Nothing in acres that went to Brigham City, Utah, if passed and enacted, will create jobs: this bill would affect those other acres. for the Brigham Intermountain Golf You see, the folks of Accomack County This bill is narrowly focused, involves Course; 103 acres to the County of have not asked the Federal Govern- an extremely small area of land, and, Walla Walla, Washington, for the Fort ment for something. They’ve simply frankly, it’s unfortunate that this bill Walla Walla Park; 307 acres to the City asked the Federal Government to get is even before us today. of Aurora, Colorado, for the Aurora out of the way so that the greatest job- However, I will state that there abso- Reservoir Park; and 2.57 acres to the producing engine the world has ever lutely are instances in which commu- Town of Hot Sulfur Springs, Colorado. known, the American entrepreneurs, nities and States would be better off if All of these entities took the same deal and Accomack County can get to work the Federal red tape on private land as Accomack County in 1976. They ex- in a very responsible way of developing ownership was lifted, just as there are pressed their desire for the land, advo- this property that is immediately adja- instances where reducing Federal land- cated for the transfer, and freely cent to the Wallops NASA facility ownership would be beneficial to local agreed to a deed that ensured that the there. communities and States. Yet here we land would be used for recreation or re- It is, I think, a clear contrast of two are debating this specific bill, and it is vert back to Federal ownership. basic philosophical approaches to job simply not reasonable to argue that Over the years, as local governments creation. One looks to this institution the sky is going to fall if this bill af- have fought development pressures and and to Washington to see that this in- fecting, again, Mr. Chairman, just 32 budget shortfalls, the Park Service and stitution is the primary driver of job acres in Accomack County becomes the General Services Administration creation. As a lifetime entrepreneur, law. have developed a land exchange process Mr. Chairman, I reject that approach With unemployment still over 8 per- to enable some flexibility for commu- and, instead, have adopted all of my cent, Congress should be looking for nities. They can enter into a land ex- life and believe we need to bring to this every opportunity possible, no matter change that requires the replacement body the mindset that the best thing to how big or how small, to create new land be of equal recreation and fair do to get our economy going again is to American jobs. Gas prices are rapidly market value. Alternatively, the coun- eliminate the hurdles. This is a very rising and families and businesses are ty can return the land to the Federal practical hurdle that is holding back struggling to make ends meet. Now Government and purchase it for fair job creation in a county that des- more than ever, Congress should make market value through the GSA process. perately needs jobs. it a priority to eliminate hurdles to The sponsor of the legislation and the Mr. Chairman, 16 percent of the hard- economic development; and, Mr. Chair- county involved have rejected both of working families in Accomack County man, that’s exactly what this bill does. these options. Instead, the county is live under the poverty line. About 90 The gentleman from Virginia has actively promoting a development plan percent of the property that’s in given us an opportunity to imme- that includes these lands in question Accomack County is agricultural. diately help a community with a plan while waiting for an act of Congress to b 1540 to create jobs. We need to pass this leg- clear the deed. islation today, and I urge my col- The enactment of this bill creates an It is without a doubt a poor county, leagues to support H.R. 2087. unacceptable and dangerous precedent and this bill simply removes a deed re- With that, I reserve the balance of for every other project out there. striction. My friend behind me just a my time. The reason the Federal land manage- few moments ago said, Do you have a Mr. GRIJALVA. I yield myself as ment agencies refuse to give away Fed- picture of this? I said, Well, we didn’t much time as I may consume. eral land is because Congress requires bring it down to the floor, but we could Mr. Chairman, I rise in opposition to the agencies to seek legislation to sell have. It’s just overgrown. There’s noth- the legislation. or transfer Federal land. Do you know ing there. There’s a dilapidated dugout The Federal Lands to Parks program why? Because a pesky little document facility, and that’s it. There’s no park- is one of the most successful parts of called the United States Constitution ing, there’s no infrastructure, there’s our National Park Service. For those requires Congress to make laws with no buildings. parts of the country that are not respect to the disposition of Federal Accomack County has a plan. Ameri- blessed with the Grand Canyon or land. This would encourage local gov- cans are resourceful. They’ll figure Sonoran Desert, this program provides ernments to run to Congress and cash their way out of this in spite of Wash- local government with excess Federal in on a gift the Federal Government ington. The board of supervisors has a lands at no cost, provided the land is shared with local communities. wonderful plan for the Wallops Re- used for recreational purposes. This legislation should be rejected. I search Park; but it only works, Mr. Over the years, nearly 1,500 parcels of urge a ‘‘no’’ vote on this bill, and I re- Chairman, if this deed restriction is re- land have gone to local governments serve the balance of my time. moved. Thirty-two acres. Great poten- for free but with deeds that ensure Mr. HASTINGS of Washington. Mr. tial for the folks in Accomack County. they are used for the public good. This Chairman, I am very pleased to yield 5 I want to close, Mr. Chairman, by re- land isn’t foisted upon these local gov- minutes to the author of this legisla- counting a conversation that I had just ernments. Instead, local governments tion, the gentleman from Virginia (Mr. a few moments ago. I actually called actively work with the Park Service to RIGELL). the person back. I wanted to make sure obtain land for ‘‘historical, natural, or Mr. RIGELL. I thank my friend, the I had her permission to share this recreational interest.’’ gentleman from Washington. story. I trust she’s listening now.

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00020 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.038 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1413 Mr. Chairman, her name is Kathy our infrastructure and put our people The gentleman called this unaccept- Wert. Her husband is a builder in back to work. And then, how about get- able and dangerous. Mr. Chairman, Accomack County, and their business ting down to the business of ending the you’re right, 15.6 percent unemploy- has been hurting because of the econ- war in Afghanistan, which is killing ment is unacceptable. It’s dangerous to omy. Jim’s a friend of mine, and I our people, undermining our national our economy. The gentlelady said it’s know his business is hurting. Kathy security, and diverting the money that inconceivable that we’re here. I used to work for him in accounting. we need to meet human needs right couldn’t have said it better. How could She’s been out looking for work be- here at home. I can’t believe that the our Federal bureaucracy have failed so cause the construction business is so American people want us to debate a poorly? depressed. And we all know that. I bill about 32 acres of land in Virginia— We need to pass this bill, Mr. Chair- called Kathy and said, I would like to not when we still have thousands of man. reference you here. Do I have your per- troops in harm’s way, fighting a war Mr. GRIJALVA. I yield 4 minutes to mission? And she said, Yes, you do. that is doing nothing to keep America my colleague from Minnesota (Mr. This is just one family. There are safe and nothing to protect our vital ELLISON). Mr. ELLISON. I would like to thank hundreds and hundreds of families in interests. the gentleman for yielding time. We have important issues to debate, Accomack County. I wish my col- I have no doubt that these issues are Mr. Chairman, big problems to tackle, leagues on the other side who are op- important to the people involved. I Americans who need our help, and an posing this bill could look them in the have no doubt that the people who sup- overseas conflict that must end. This is eye and explain to them why we can’t port and oppose this bill care deeply a moment of great urgency. Why isn’t remove this deed restriction. It’s a about it. It’s a local issue, and I come the majority acting like it? classic example, Mr. Chairman, of a pa- from a locality and therefore under- Mr. HASTINGS of Washington. Mr. ternalistic Federal Government, an op- stand. But the fact of the matter is Chairman, I am very pleased to yield 2 pressive Federal Government, holding that our country is in some seriously minutes to the cosponsor of this legis- back job creation. grievous harm because, yes, we do have lation, the gentleman from Maryland We’re all American taxpayers. This an exorbitant unemployment rate. It’s idea of transferring it from one to an- (Mr. HARRIS). Mr. HARRIS. I want to thank the been going down. We’ve been adding other, $800,000 or more from a poor private sector jobs. But there’s still too county, this is what is wrong with chairman of the committee for giving me the opportunity to speak and the many people unemployed. And yet the America, Mr. Chairman. Even though majority has not taken the time on the this is a relatively small bill in the big gentleman from Virginia for giving me the opportunity to cosponsor this bill. floor today to deal with how we’re scheme of things—32 acres—when the going to get all Americans back to Federal Government owns almost one- The gentleman from Virginia, of course, is from the southern end of the work. They’re taking time to figure third of all the land in the United Delmarva Peninsula. I represent the out how they’re going to do an ear- States, that, too, is a problem. Maybe middle part adjoining Accomack Coun- mark after they’ve said there’s no ear- we’ll get around to that one day, Mr. ty. marks. Chairman; but until then we’re just We heard a lot during the State of This is remarkable. I’m actually not talking about 32 acres. the Union Address. The President stood against earmarks, Mr. Chairman. I’m So I would ask my colleagues on the just a few feet in front of you, Mr. for them—I think they’re a good other side to reconsider, and I would Chairman, and talked about shovel- thing—but the majority has said no ask them to vote in favor of this, and ready jobs and infrastructure. Mr. earmarks. Yet this is about the second let’s get some hardworking folks in Chairman, there are shovel-ready jobs time in the last couple of weeks we see Accomack County back to work. ready to go. This land adjoins Wallops them floating their earmarks right on Mr. GRIJALVA. I yield 5 minutes to Island, the launch facility which now is through. H.R. 2087 would allow a county in a the gentlelady from California (Ms. one of the places that launched private particular Representative’s district to WOOLSEY). and public vehicles into space. It acquire full ownership of a little less Ms. WOOLSEY. Mr. Chairman, it’s doesn’t get any better than that for a than 32 acres of Federal land worth inconceivable to me that with all the poor county like Accomack. challenges we have that are facing our The chairman of the committee men- more than $800,000 for free. That’s an earmark. Yet the rest of us can’t get Nation, this body is taking up legisla- tioned an 8 percent unemployment them. But if you are among the favor- tion today having to do with a 32-acre rate. Well, Mr. Chairman, I wish that ite few, you can. That’s wrong. That’s parcel of land in Virginia. Is this really Worcester County, where half the em- unfair. That’s unjust. And it’s particu- the best we can do at a moment when ployees in this industrial park will larly unjust, given the grievous prob- our economy is still underperforming? work, had an 8 percent rate. The unem- lems that we’re facing as a Nation. At a moment when we’re still sending ployment rate was 15.6 percent in brave Americans to die in an immoral We should be voting on a real jobs Worcester County. bill to create good jobs all across war that’s gone on for nearly as long as The President stood there and said, America, but apparently that’s not my grandson Teddy has been alive? We’ve got to get Americans back to what we’re going to be doing with our We still have more than 8 percent un- work. Mr. Chairman, we need to cut employment in this country. We still time today. We’re going to be talking through the red tape, just like the about a narrow provincial interest and have families and entire communities President said, and get projects like wondering what happened to the Amer- trying to give away Federal land for this going. There’s no loss of recreation free for a particular interest in a par- ican Dream. We have people losing area. Accomack County has offered to, ticular locality. We should be talking their home through no fault of their in fact, find another 32 areas to have about how we’re going to save and pro- own. We have people wondering how the recreation area. So let’s not pre- tect Medicare guaranteed for all Amer- they’re going to pay next month’s bills, tend there’s a loss. Let’s not pretend icans, which is a threat, given the never mind the daunting cost of send- this land doesn’t belong to Accomack Ryan budget. But, no, we’re talking ing their child to college. We have fam- County. They hold the title. Like a about a narrow, small-town interest, ilies wondering why the very health poor stepchild they are coming to which I think is important but that the care reforms they needed are about to begging for permission to majority in their infinite wisdom has go on trial at the U.S. Supreme Court. create some jobs in Accomack County. said we can’t do because that’s an ear- We also have people who, more than And like the mean old uncle, Uncle mark. ever, are depending on safety-net pro- Sam has said, No. There’s red tape in- The GOP has wasted the last 441 days grams like Medicare and Medicaid, volved. We have a bureaucracy. You that they’ve been in charge, and has which have a big fat target on their have to fill in all the blanks. You have failed to produce a single jobs bill. backs put on by the Republican budget to do this. Mr. Chairman, the 15.6 per- plan that was just unveiled today. cent of Worcester County who are un- b 1550 A good start would be to pass the employed don’t have the time for this In fact, they’re trying to cut jobs. Senate transportation bill to rebuild red tape. We must do it. The transportation bill would lead to

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00021 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.040 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1414 CONGRESSIONAL RECORD — HOUSE March 20, 2012 losses of over 500,000 jobs. Now, I defi- They’d get chewed up by the fiscal irre- but not one single attempt has been nitely sympathize with the folks who sponsibility. made by the Republicans in 31⁄2 years are out of work in the Member’s dis- They have a bill sitting on the desk to do anything to make that work bet- trict, I mean in the county where this from the Senate they could bring up ter. All they want to do is destroy it. earmark is going to be taking place. I tomorrow, and we could ensure con- This is the party of destruction—the do. I’m very concerned about the un- struction jobs all over this country for destruction of the infrastructure of the employed. That’s why I wish we had a 550,000 people. But no, we’re out here country, the destruction of an attempt real jobs bill as opposed to these give- with this little—the last speaker said, to do the health care. You can go right aways of Federal land, and we really it’s really interesting, all the jumping, down the list—441 days, no jobs bill— don’t know who it’s going to be bene- shouting, and waving of arms, we’re and what we get out here is this ear- fiting at the end of the day. not going to have any more earmarks mark. It would really be kind of laugh- The bottom line is we have real prob- in the House of Representatives. Ear- able if it weren’t so serious. lems in America. We’ve got transpor- marks are evil. They’re evil things cre- Mr. HASTINGS of Washington. Mr. tation needs, we’ve got environmental ated by the devil, and we have wiped Chairman, I advise my friend that I needs, and we’ve got health care needs. them out. have no requests for time. If he is pre- We’ve got real debate to take care of. Now, if this ain’t an earmark, I don’t pared to close, I’ll close. Mr. GRIJALVA. I am prepared to But if we’re going to be debating those know what is. If you put a bill out here for 32 acres in two Members’ districts, close. things, we’ve got to be on the floor, Mr. Chairman, as we have heard con- that’s an earmark, folks. That’s an ear- taking the time up to do those things, tinually from my friends on the other mark. And I’m not saying earmarks not dealing with disguised earmarks side of the aisle, before us we have a for certain people because they happen are bad. Frankly, I went to three of seemingly innocent piece of legislation to—I don’t know. I don’t know why them last weekend in my district. One that would allow Accomack County to they get privileged treatment over peo- was the restoration of the King Street develop a mere 32 acres of land for an ple like me who don’t get to offer ear- Station in the railroad system. An- aerospace park. One might even wonder marks anymore. other one was an addition to the Wing why we are taking up valuable time on I’ll say this, Mr. Chairman: at the Luke Museum, which is a national the House floor in debating this meas- end of the day, America is a country monument. These kinds of things make ure. that needs the attention of this Con- sense, and I think this piece of legisla- This is not innocent legislation. This gress so that everybody can get a job tion makes sense, and it will probably is a Federal land giveaway that under that pays well across this country. And go out of here without a single vote any other circumstance would be con- we’re not doing that. We’re failing. against it. sidered an earmark. It is also the open- What we’re doing is we’re allowing one But it can’t go out without somebody ing shot of a larger effort on the part of county in one Member’s district to ac- saying, where are your priorities? the Republicans to privatize our Fed- quire the full ownership of a valuable Where are they? Why is it that the eral lands. In 1976, Accomack County piece of land for free. And that’s wrong. leadership of the Republicans can’t get made a deal. They received 32 acres of Mr. GRIJALVA. I yield 5 minutes to their people in line to get a highway Federal property free of charge. In re- the gentleman from Washington, Con- bill out here when it’s 11 days from the turn, they promised to use the land for gressman MCDERMOTT. day it expires? What is the matter? public recreation purposes. Now they Mr. MCDERMOTT. Mr. Chairman, Well, I think really what it is, it’s driv- want a different deal, only they don’t when we came into this session, there en by the ideology that is creating want to pay for it. The deal they want was a lot of talk in this House about most of the problems in this 2 years in is to commercially develop the land the fact that we needed jobs, lots and terms of recovery. Nobody wants to they got for free and relocate the dis- lots of talk on the other side about how give President Obama one single suc- placed recreation activity to a former they were going to take care of this cess, and they will kill the highway de- landfill. economy and we were going to finally partment and the highway construc- While it is ‘‘just’’ 32 acres, it rep- get some jobs. There hasn’t been one tion fund and everything else if they resents what appears to be the Repub- single bill put out here in 441 days. We can just make sure they don’t reelect lican platform: that our parks, forests, are still waiting for a jobs bill from the President Obama. That’s what it’s all and wildlife areas are cash cows, assets Republican leadership. about. It’s very clear. to sell and develop during these tough Now, I don’t want to dismiss the We see it going on tomorrow. It be- economic times. piece of legislation we’re discussing gins over across the street in the Su- b 1600 here. I’m sure it’s very important to 1 preme Court. They’ve spent 3 ⁄2 years Presidential candidate Mitt Romney have 32 acres of Virginia, and perhaps fighting providing health care for all told a Nevada newspaper that he maybe there will be 100 jobs there. 1 Americans—3 ⁄2 years fighting it, not doesn’t know what the purpose is of Those are important jobs for those peo- trying to improve it, not trying to public lands. While in Idaho, Presi- ple. We are in favor of that. make it work better, but trying to re- dential candidate Rick Santorum told What’s hard to understand is the Re- peal it. That’s what’s going on in this the crowd that public lands in Idaho publicans’ idea of priorities. Mr. Chair- city. In fact, thousands of people have should go back to the hands of the pri- man, I can’t understand how the Re- got health care now that didn’t have it. vate sector. This theme is not new. In publican leadership could let the high- The fact that you can now keep your 2005, then-chairman of the House Com- way bill expire in 11 days and end high- kids on your policy to the age of 26 has mittee on Natural Resources, Richard way construction in the United States added millions of young people to those Pombo, proposed selling national parks of America and bring out instead a bill who are insured against health prob- to mining companies. for 32 acres in rural Virginia that— lems. There are people who have health Today, part of the Ryan budget was most of us would have a tough time care in spite of the fact that they have released. Again, it is proposing to sell finding Accomack County on a map. a preexisting condition. off 3.3 million acres of public land. There are 550,000 people working on re- The CHAIR. The time of the gen- Most recently, an Energy and Com- building infrastructure in this country tleman has expired. merce subcommittee chairman sug- in the highway system, and the Repub- Mr. GRIJALVA. I yield the gen- gested selling off some of our national lican leadership won’t bring it out be- tleman 1 additional minute. parks. We can’t get through a meeting cause they’ve got a fight inside. Mr. MCDERMOTT. They’ve got their of the House Committee on Natural Re- They’ve got a fight inside. They’ve got health insurance because the bill that sources without someone from the ma- a bill that is so bad that it bankrupts the President got through the Congress jority suggesting that lands need to be the highway trust in 2016 and creates a with our help was one that made it pos- transferred to the States, or sold, or $78 billion funding shortfall over the sible for you to get insurance if you fully developed for gas and oil. next 10 years. That’s the highway bill have a preexisting condition. Now My view, and the view of most Amer- that they won’t bring out here. I under- there are thousands of people who have icans, is completely different. As re- stand why they won’t bring it out here. benefited from that in this country, nowned documentary filmmaker Ken

VerDate Mar 15 2010 02:11 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00022 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.043 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1415 Burns put it, our National Park Sys- Furthermore, if there are two big The Acting CHAIR (Mr. LUCAS). The tem is America’s best idea. Our forests issues that the American people are Clerk will designate the amendment. and desert lands represent what is the confronted with today, it’s jobs and en- The text of the amendment is as fol- best in America—a long-term view that ergy. Way last year, we passed energy lows: we should protect and value the maj- bills that created American jobs. Don’t At the end of the bill, add the following: esty that God has blessed our Nation come down to the floor and say we (d) CONSIDERATION.—Any instrument exe- with for this generation and the gen- have not addressed energy jobs. This cuted pursuant to subsection (a), shall pro- erations to come. House has done its work, generally vide that— I urge my colleagues to join with me with bipartisan support, but I will note (1) in consideration for the land described to defeat this legislation. We need this that those that spoke on that voted in subsection (c), Accomack County, Vir- Congress to affirm to the American ‘‘no.’’ I don’t know what they want to ginia, shall pay the United States the fair market value of the land (on the date of the people that we value our parks, our for- do—create government jobs? Is that enactment of this Act) under terms approved ests, and wildlife areas for their inher- the idea? by the Secretary of the Interior from reve- ent value. We value them as places to So, Mr. Chairman, I just want to nues generated by the sale, rent, or lease of recreate with our family. We value point out that, I guess in rhetoric and the land; and them as places to hunt and fish. Some- debate on the floor, you get all sorts of (2) the land described in subsection (c) times we value them for just knowing different takes, but the facts are the shall be appraised in accordance with nation- that they are there, in hopes that one House has passed job-creating bills. ally recognized appraisal standards (includ- day we can visit. They have passed energy job-creating ing the Uniform Appraisal Standards for Federal Land Acquisitions and the Uniform I urge a ‘‘no’’ vote, a vote to protect bills. This bill here potentially falls in line with that. I urge my colleagues to Standards of Professional Appraisal Prac- our public lands from this precedent tice) by an independent appraiser selected by that is being set by H.R. 2087. support it. the Secretary of the Interior and Accomack Mr. Chairman, I yield back the bal- With that, I yield back the balance of County, Virginia. ance of my time. my time. The CHAIR. All time for general de- The Acting CHAIR. The Chair recog- Mr. HASTINGS of Washington. I nizes the gentleman from Arizona for 5 yield myself such time as I may con- bate has expired. Pursuant to the rule, the bill shall be minutes. sume. Mr. GRIJALVA. Mr. Chairman, I rise Mr. Chairman, the rhetoric on the considered for amendment under the 5- minute rule. today in support of my amendment to other side of the aisle on the debate on H.R. 2087. this issue is rather interesting. Let me The amendment in the nature of a substitute recommended by the Com- This is a very simple amendment. It take a couple of the issues that were ensures that Federal taxpayers are brought up and try to address them. mittee on Natural Resources printed in the bill shall be considered as an origi- compensated for the land that is mov- First, the issue of an earmark. Now, ing out of public ownership and into just to remind our body—we must have nal bill for the purpose of amendment under the 5-minute rule and shall be private development. a very short attention span—but this The Federal Land to Parks program House acted not too long ago on the considered read. The text of the committee amend- provides Federal land to local govern- question of earmarks and said we ments with the agreement through the should proceed. That’s why we are de- ment in the nature of a substitute is as follows: deed that the lands will stay in public bating this bill. Why? Because H.R. use, primarily for recreation. 2087 does not contain an earmark. It is H.R. 2087 Accomack County, Virginia, is ac- in full compliance with the earmark Be it enacted by the Senate and House of Rep- tively marketing the development of definition provided for in House rule 21 resentatives of the United States of America in Congress assembled, the land in question to the aerospace in the earmark ban that was instituted industry for hangars and other types of by the House Republicans in January SECTION 1. REMOVAL OF RESTRICTIONS. (a) REMOVAL.—Not later than 90 days after commercial development. The land is of 2011. the date of the enactment of this Act, the Sec- valued at over $800,000. Meanwhile, the Why is that or how is that? Because retary of the Interior shall execute such instru- county is asking Congress to intervene the House definition of an earmark re- ments as may be necessary to remove all deed re- so they can take the land they got for quires that there be spending in some strictions described in subsection (b) relating to free and develop it without compen- form directed to an entity. In H.R. 2087, the parcel of land described in subsection (c). sating the Federal Government. we do not direct any spending of any (b) DEED RESTRICTIONS.—The deed restrictions The underlying bill is the legislative referred to in subsection (a) are those restric- money in any form. It has no fiscal im- equivalent of writing Accomack Coun- pact. So, Mr. Chairman, to repeat once tions, including easements, exceptions, reserva- tions, terms, conditions, and covenants de- ty a check for $815,000. It is only be- again—we had this debate earlier, and scribed in Quitclaim Deed No. 17808A from the cause this is cloaked through a deed the House confirmed that debate, by United States to Accomack County, Virginia, ex- amendment that it isn’t called an ‘‘ear- the way—there is no earmark in this ecuted on December 20, 1976, and recorded mark.’’ bill. Let me make a couple other obser- among the real estate records of Accomack My amendment simply requires the vations of the previous speakers that County, Virginia, by the Clerk of the Circuit county to repay the Federal Govern- have spoken. Court, on pages 292 through 296 of Deed Book ment for the fair market value of the One of my colleagues on the other 381. (c) DESCRIPTION OF LAND.—The parcel of land lands from the proceeds of the develop- side of the aisle came down here and referred to in subsection (a) consists of approxi- ment. said it’s been X number of days—I for- mately 31.6 acres situated in the Atlantic Dis- By ensuring the taxpayer is pro- get how many he said—without one job trict, Accomack County, Virginia, more particu- tected, we also send a signal to other bill. Well, he’s right, Mr. Chairman. larly described in the metes and bounds descrip- local governments that are facing eco- There is not just one job bill. There are tion recorded on page 292 of the quitclaim deed nomic or development pressures that a multitude of job bills that have been described in subsection (b). their parks, developed through the addressed by this body, generally on a The CHAIR. No amendment to the Federal Lands to Parks program, are bipartisan basis. I might add, if you go committee amendment in the nature of not piggy banks to tap into when times back just prior to our last district a substitute shall be in order except get tough. work period, we passed some bills, those printed in the CONGRESSIONAL I understand the challenges that which were a series of bills that had RECORD of March 19, 2012, and except Accomack County faces, but they want passed with bipartisan support, over to pro forma amendments for the purpose this land to not necessarily put unem- the Senate. I’d advise my colleagues on of debate. Each amendment so printed ployed people back to work; they want the other side of the aisle, rather than may be offered only by the Member this land to attract the lucrative aero- talking here about a lack of activity, who caused it to be printed or a des- space industry to the Eastern Shore, go talk to your colleagues on the other ignee and shall be considered read. not to build a job-training facility. side of the Rotunda over there and say: AMENDMENT NO. 1 OFFERED BY MR. GRIJALVA I urge support for the amendment. It Move these jobs bills. That’s what we Mr. GRIJALVA. Mr. Chairman, I assures that the taxpayer is protected. ought to be doing. have an amendment at the desk. I yield back the balance of my time.

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00023 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.045 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1416 CONGRESSIONAL RECORD — HOUSE March 20, 2012 Mr. HASTINGS of Washington. Mr. The Acting CHAIR. The Clerk will Congress shouldn’t grant special Chairman, I rise in opposition to the designate the amendment. treatment of something as erratic as amendment. The text of the amendment is as fol- market value because the market The Acting CHAIR. The gentleman is lows: value of land is always changing. And recognized for 5 minutes. At the end of the bill add the following: all I have to do is look at my mortgage Mr. HASTINGS of Washington. Mr. (d) VALUATION OF LAND.—Any instrument and look at how the prices have gone Chairman, the amendment offered by executed pursuant to subsection (a) shall down, as they have all over this coun- the gentleman from Arizona does not provide that, before the restrictions referred try. help Accomack County create jobs, and to in this Act are removed from the deed re- I heard the statement yesterday in that is the underlying purpose of this ferred to in this Act, an independent ap- the Rules Committee that the land is bill. praiser shall complete an approximate valu- useless. I don’t think any land is use- Recall that this property was ob- ation of the land in each of the following less. Mark Twain said that we ain’t tained by Accomack County because years: 1776 1865, 2013, 2017, 2032, and 2212. going to have much more land, just to the Federal Government did not need it The Acting CHAIR. The gentleman paraphrase him. They’re not manufac- or want it anymore. The Federal Gov- from Florida (Mr. HASTINGS) is recog- turing it; although, I think Singapore ernment washed their hands of this nized for 5 minutes. may very well take issue with that land. Indeed, there was a deed restric- Mr. HASTINGS of Florida. Mr. Chair- comment. tion, but the underlying intent was to man, I’d like to preface my remarks by It’s a park, and it is important that benefit the citizens of Accomack Coun- indicating, at the close of my remarks the Federal Government conditioned ty. Today, we are acting again to help and when the debate is concluded on the transfer of the land to the county those same citizens by allowing them this amendment, I do not intend to call in the first place on the promise that it to use the property as they see appro- for a vote, largely for the reason that I would be used as a park. The county priate. believe that the ranking member, Mr. agreed to those terms when it initially This deed restriction was put in place GRIJALVA’s amendment covers much of received the land, and now, in all due 36 years ago, and it no longer serves as what I have offered in this amendment; respect, they want to back out. a benefit to the county. Just because and second, out of respect for my col- It’s not unexpected to want to alter we could demand that they give the league from Accomack, Mr. RIGELL, an agreement when conditions sur- land back to the Federal Government who I believe has brought this matter, rounding the deal change. In fact, if does not mean that we should do it, as many of us may be wont to do in the the county no longer wants to use the and demanding that they buy the land future, regarding the economic con- land as a park, there are remedies read- they already own makes even less cerns that exist in his community. ily available within the Federal Lands sense. In the same vein in which I would only add, he cited to 16 per- to Parks program that it could choose Accomack County requested this land cent unemployment earlier today in from. in 1976, they’re back asking us again to Consequently, changing the agree- help their citizens. his presentation on the floor. I could take him to some places in the con- ment today because of a shift in mar- I understand the gentleman is look- ket value sets a bad precedent. We ing out for the Federal Government— gressional district that I’m privileged to serve and show him 40 percent un- don’t know what the market value of and I respect that—out of fear that the land will be a year from now; we somehow a small county in rural Vir- employment in a rural area that hap- pens to be in the same contiguous area don’t know what it will be 5 years from ginia might take advantage of it. But I now; and we certainly have no idea do want to assure my good friend from as the Everglades National Park. And I’m sure that I could come back here what it will be 200 years from now. Be- Arizona that the Federal Government fore you know it, every county and and its countless millions of acres of and offer some measures that would allow for Belle Glade and Clewiston every State—and this is why I feel very land can and will go on without these strongly about this—will be here, ask- 32 acres. and South Bay and Canal Point to have an opportunity to convert land that is ing Congress for the same special treat- b 1610 in a national park that was given for ment as soon as the market shifts in We hear time and again how grateful that purpose, to leave the reversionary their favor. My amendment requires appraisals of we should be for massive Federal own- restriction aside and to go about the the land, and I believe that Mr. GRI- ership in the West and of the bounty of business of allowing for those counties, JALVA’s does as well. All I ask is that if tourist dollars it produces. Now, in this Hendry and Palm Beach County and we don’t want it to be a park anymore, very narrow example of 32 acres, per- Broward, to be able to utilize the land as the county doesn’t, then the county haps you will see the blessing of local as they see fit. should look to the remedies it already control and what you can do without Land has a market value at some Washington’s central planning and has available to them. point. As I understand it—and I stand I believe the market value will shift. land management. to be corrected certainly by my good I urge my colleagues to oppose this I hope Mr. RIGELL is successful. I be- friend and colleague from Wash- lieve the measure will pass. amendment because it is unwarranted ington—the original deed in this prop- and does nothing to produce much With that, I yield back the balance of erty allowed that if the parcel was no my time. needed jobs. longer used for recreational purposes With that, I yield back the balance of Mr. HASTINGS of Washington. Mr. that it would revert to the Federal my time. Chairman, I rise in opposition to the Government. Well, clearly, that rever- The Acting CHAIR. The question is amendment. on the amendment offered by the gen- sionary clause is what we are seeking The Acting CHAIR. The gentleman is in this particular measure, in this spe- tleman from Arizona (Mr. GRIJALVA). recognized for 5 minutes. The question was taken; and the Act- cific one, to overturn. I believe it’s Mr. HASTINGS of Washington. I ing Chair announced that the noes ap- wholly unnecessary but, more impor- would really like to commend my good peared to have it. tantly, I think it sets a bad precedent friend from Florida on his very unique Mr. GRIJALVA. Mr. Chair, I demand of involving Congress in consensually approach to this bill with this very a recorded vote. entered agreements. unique amendment. But make no mis- The Acting CHAIR. Pursuant to As I’ve explained, the county was take. If it were to pass, the effect clause 6 of rule XVIII, further pro- granted the land on the condition that would be to hobble and to kill this job- ceedings on the amendment offered by it be used as a park. And I understand, creating bill, so let’s set that aside. the gentleman from Arizona will be and understood further, from my good Mr. Chairman, this amendment postponed. friend Mr. HASTINGS’ comments yester- would require appraisals to be con- AMENDMENT NO. 2 OFFERED BY MR. HASTINGS day at the Rules Committee, that the ducted in each of the following years: OF FLORIDA land can’t even be accessed—if it were 1776, 1865, 2013, 2017, 2032, and 2212. In Mr. HASTINGS of Florida. Mr. Chair- not Mr. HASTINGS, then it was Mr. this amendment as the amendment is man, I have an amendment at the desk, BISHOP—and, therefore, it is important written, these appraisals must be done and it is preprinted. that they make this change. in those years.

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00024 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.048 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1417 We did not have a Federal Govern- Becerra Gerlach Pallone Labrador Nunnelee Scott (SC) ment in 1776, for example. In 1865, Vir- Berman Green, Al Pascrell Lamborn Olson Scott (VA) Bishop (GA) Green, Gene Pastor (AZ) Lance Palazzo Scott, Austin ginia was part of the Confederacy. That Bishop (NY) Grijalva Pelosi Landry Paulsen Sensenbrenner means, however, if we have a require- Blumenauer Gutierrez Perlmutter Lankford Pearce Shimkus ment to have an appraisal in each of Bonamici Hanabusa Peters Latham Pence Shuler LaTourette Petri Shuster these years, that would require that we Boren Hastings (FL) Peterson Boswell Heinrich Pingree (ME) Latta Pitts Simpson go back 236 years and into the future Brady (PA) Higgins Polis LoBiondo Poe (TX) Smith (NE) 200 years before this legislation would Braley (IA) Himes Price (NC) Long Pompeo Smith (NJ) Brown (FL) Hinchey Quigley Lucas Posey Smith (TX) go into effect. Luetkemeyer Price (GA) Southerland Burton (IN) Hinojosa Rahall Now, there may be a misconception Butterfield Hirono Lummis Quayle Stearns Reyes Capps Hochul Lungren, Daniel Reed Stivers or maybe a misidentification, I would Richardson Capuano Holden E. Rehberg Stutzman tell my friend. I am DOC HASTINGS. I Richmond Cardoza Holt Mack Reichert Sullivan am not Doc Brown, the mad scientist Carnahan Honda Ross (AR) Marchant Renacci Terry from ‘‘Back to the Future.’’ I do not Carney Hoyer Rothman (NJ) McCarthy (CA) Ribble Thompson (PA) own, nor do I have access to, a pluto- Carson (IN) Israel Roybal-Allard McCaul Rigell Thornberry Ruppersberger nium-powered DeLorean that will Castor (FL) Jackson Lee McClintock Rivera Tiberi Chandler (TX) Ryan (OH) McCotter Roby Tipton allow me or Michael J. Fox to com- Chu Johnson (GA) Sa´ nchez, Linda McHenry Roe (TN) Turner (NY) plete the complexities of this amend- Cicilline Johnson, E. B. T. McKeon Rogers (AL) Turner (OH) ment. I can’t go back 236 years; I can’t Clarke (MI) Kaptur Sanchez, Loretta McKinley Rogers (KY) Upton Clarke (NY) Keating Sarbanes McMorris Rogers (MI) Walberg go forward 200 years. Clay Kildee Schakowsky Rodgers Rohrabacher Walden So, notwithstanding some new tech- Cleaver Kind Schiff Mica Rokita Webster nology, I have to say, Mr. Chairman, in Clyburn Kissell Schrader Michaud Rooney West all sincerity, we should defeat this Cohen Kucinich Schwartz Miller (FL) Ros-Lehtinen Westmoreland Connolly (VA) Langevin Scott, David Miller (MI) Roskam Whitfield amendment. Conyers Larsen (WA) Serrano Miller, Gary Ross (FL) Wilson (SC) I yield back the balance of my time. Cooper Larson (CT) Sewell Mulvaney Royce Wittman Mr. HASTINGS of Florida. Mr. Chair- Costa Levin Sherman Murphy (PA) Runyan Wolf Myrick Ryan (WI) Womack man, I ask unanimous consent to speak Costello Lewis (GA) Sires Courtney Loebsack Slaughter Neugebauer Scalise Yoder for just 15 seconds. Critz Lofgren, Zoe Smith (WA) Noem Schilling Young (AK) Nugent Schmidt Young (FL) The Acting CHAIR. Is there objection Crowley Lowey Speier Cuellar Luja´ n Nunes Schweikert Young (IN) to the request of the gentleman from Stark Cummings Lynch Sutton Florida? Davis (CA) Maloney NOT VOTING—27 Thompson (CA) DeFazio Matheson Akin Gonzalez Meehan There was no objection. Thompson (MS) DeGette Matsui Bachus Jackson (IL) Paul Mr. HASTINGS of Florida. Mr. Chair- Tierney DeLauro McCarthy (NY) Bass (CA) Kinzinger (IL) Platts Tonko man, my good friend, DOC HASTINGS— Deutch McCollum Bono Mack Lee (CA) Rangel that is, not Doc Brown—is mindful that Dicks McDermott Towns Burgess Lewis (CA) Rush we are going to have a future. I just Dingell McGovern Tsongas Cantor Lipinski Schock Donnelly (IN) McIntyre Van Hollen Davis (IL) Manzullo Sessions want to comment that there is a fu- ´ Doyle McNerney Velazquez Doggett Marino Walsh (IL) ture, and we tend to do it around here. Edwards Meeks Visclosky Dold Markey Yarmuth As a matter of fact, we do it in budg- Ellison Miller (NC) Walz (MN) Engel Miller, George Wasserman b 1649 etary matters; we do it all around. Schultz Eshoo Moore Messrs. PRICE of Georgia, POSEY, I appreciate very much my friend Farr Moran Waters pointing out that creativity that I of- Fattah Murphy (CT) Watt COFFMAN of Colorado, BILIRAKIS, fered. At the very same time, I think Filner Nadler Waxman ROE of Tennessee, and Mrs. ROBY Fitzpatrick Napolitano Welch Mr. GRIJALVA’s amendment is deserv- changed their vote from ‘‘aye’’ to ‘‘no.’’ Frank (MA) Neal Wilson (FL) ing of serious consideration, and I sup- Fudge Olver Woodall Messrs. AMASH and DAVID SCOTT port it. Garamendi Owens Woolsey of Georgia changed their vote from I yield back the balance of my time. ‘‘no’’ to ‘‘aye.’’ The Acting CHAIR. The question is NOES—226 So the amendment was rejected. on the amendment offered by the gen- Adams Coffman (CO) Gowdy The result of the vote was announced Aderholt Cole Granger tleman from Florida (Mr. HASTINGS). as above recorded. Alexander Conaway Graves (GA) The Acting CHAIR. The question is The amendment was rejected. Amodei Cravaack Graves (MO) Austria Crawford Griffin (AR) on the committee amendment in the b 1620 Bachmann Crenshaw Griffith (VA) nature of a substitute. Barletta Culberson Grimm The amendment was agreed to. AMENDMENT NO. 1 OFFERED BY MR. GRIJALVA Barrow Davis (KY) Guinta Bartlett Denham Guthrie The Acting CHAIR. Under the rule, The Acting CHAIR. Pursuant to the Committee rises. clause 6 of rule XVIII, the unfinished Barton (TX) Dent Hahn Bass (NH) DesJarlais Hall Accordingly, the Committee ; business is the demand for a recorded Benishek Diaz-Balart Hanna and the Speaker pro tempore (Mr. vote on the amendment offered by the Berg Dreier Harper CHAFFETZ) having assumed the chair, gentleman from Arizona (Mr. GRI- Berkley Duffy Harris Biggert Duncan (SC) Hartzler Mr. LUCAS, Acting Chair of the Com- JALVA) on which further proceedings Bilbray Duncan (TN) Hastings (WA) mittee of the Whole House on the state were postponed and on which the noes Bilirakis Ellmers Hayworth of the Union, reported that that Com- Bishop (UT) Emerson Heck prevailed by voice vote. mittee, having had under consideration The Clerk will redesignate the Black Farenthold Hensarling Blackburn Fincher Herger the bill (H.R. 2087) to remove restric- amendment. Bonner Flake Herrera Beutler tions from a parcel of land situated in The Clerk redesignated the amend- Boustany Fleischmann Huelskamp the Atlantic District, Accomack Coun- ment. Brady (TX) Fleming Huizenga (MI) Brooks Flores Hultgren ty, Virginia, and, pursuant to House RECORDED VOTE Broun (GA) Forbes Hunter Resolution 587, he reported the bill The Acting CHAIR. A recorded vote Buchanan Fortenberry Hurt back to the House with an amendment Bucshon Foxx Issa has been demanded. Buerkle Franks (AZ) Jenkins adopted in the Committee of the A recorded vote was ordered. Calvert Frelinghuysen Johnson (IL) Whole. The vote was taken by electronic de- Camp Gallegly Johnson (OH) The SPEAKER pro tempore. Under vice, and there were—ayes 178, noes 226, Campbell Gardner Johnson, Sam Canseco Garrett Jones the rule, the previous question is or- not voting 27, as follows: Capito Gibbs Jordan dered. [Roll No. 115] Carter Gibson Kelly The question is on the committee Cassidy Gingrey (GA) King (IA) amendment in the nature of a sub- AYES—178 Chabot Gohmert King (NY) Ackerman Amash Baca Chaffetz Goodlatte Kingston stitute. Altmire Andrews Baldwin Coble Gosar Kline The amendment was agreed to.

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00025 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.051 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1418 CONGRESSIONAL RECORD — HOUSE March 20, 2012 The SPEAKER pro tempore. The The final amendment is very simple ate jobs. And what does the other side question is on the engrossment and and would outlaw the sale or the use of do? They want to put up more impedi- third reading of the bill. the land for any ownership or oper- ments to it. The bill was ordered to be engrossed ation of an adult book store, a novelty I urge my colleagues to vote ‘‘no’’ on and read a third time, and was read the adult store, a video adult store, an ar- the motion to recommit, and I yield third time. cade or live entertainment facility. I back the balance of my time. b 1650 think we can all agree that we should The SPEAKER pro tempore. Without not be giving away Federal property to objection, the previous question is or- MOTION TO RECOMMIT facilitate adult live entertainment. dered. Ms. LORETTA SANCHEZ of Cali- In fact, if you’re not convinced of fornia. Mr. Speaker, I have a motion to There was no objection. that, then let me tell you the second recommit at the desk. The SPEAKER pro tempore. The The SPEAKER pro tempore. Is the thing we don’t want to happen close to question is on the motion to recommit. gentlewoman opposed to the bill? that land, and that is that land adjoin- The question was taken; and the Ms. LORETTA SANCHEZ of Cali- ing this piece of property we’re talking Speaker pro tempore announced that fornia. In its present form I am op- about today should not fall into the the noes appeared to have it. posed. hands of those who would want to spy RECORDED VOTE The SPEAKER pro tempore. The on our top secrets. As you probably Ms. LORETTA SANCHEZ of Cali- Clerk will report the motion to recom- know, I’m a senior member of both the fornia. Mr. Speaker, I demand a re- mit. House Armed Services Committee and corded vote. The Clerk read as follows: the Homeland Security Committee, A recorded vote was ordered. Ms. Loretta Sanchez of California moves to and every day, I deal with the issues of The SPEAKER pro tempore. Pursu- recommit the bill H.R. 2087 to the Com- national security threats. mittee on Natural Resources with instruc- ant to clause 9 of rule XX, the Chair The issue is the proximity of the will reduce to 5 minutes the minimum tions to report the same to the House forth- NASA Wallops spaceflight facility to with with the following amendment: time for any electronic vote on the At the end of the bill, add the following: the land in question, so my final question of passage. amendment is aimed at protecting na- SEC. 2. PROHIBITION ON SALE OR USE OF LAND The vote was taken by electronic de- FOR ADULT ENTERTAINMENT OR BY tional security secrets from countries vice, and there were—ayes 180, noes 226, FOREIGN GOVERNMENTS. like China or Iran. What if a country not voting 25, as follows: Any instrument executed pursuant to sec- like Iran or China would purchase that tion 1(a) shall specify that the land described land and eavesdrop on our NASA [Roll No. 116] in section 1(c) shall not be sold, leased, or AYES—180 rented to— spaceflight facility? Ackerman Fattah Moran (1) an owner or operator of an adult book, I am sure that my colleagues would agree that this land is worth pro- Altmire Filner Murphy (CT) novelty, video, arcade, or live entertainment Andrews Frank (MA) Nadler facility; or tecting. In fact, to remind my col- Baca Fudge Napolitano (2) any foreign government that might leagues on the other side, this is the Baldwin Garamendi Neal pose a security threat to the NASA Wallops final amendment to this bill. It’s not Barrow Green, Al Olver Bass (CA) Green, Gene Flight Facility. going to kill the bill, and it won’t take Owens Becerra Grijalva Pallone The SPEAKER pro tempore. The gen- it back to committee. So, if adopted, Berkley Gutierrez Pascrell tlewoman is recognized for 5 minutes. Berman Hahn the bill would be amended and it would Pastor (AZ) Bishop (GA) Hanabusa Ms. LORETTA SANCHEZ of Cali- go to final passage. Pelosi fornia. Thank you, Mr. Speaker. Bishop (NY) Hastings (FL) I ask my colleagues to do the right Blumenauer Heinrich Perlmutter I rise today to offer a final amend- thing to protect our taxpayer-owned Bonamici Higgins Peters ment to H.R. 2087 that, if passed, would Boren Himes Peterson land. Regardless of how you feel about Pingree (ME) bring the bill promptly back for a vote the bill, this amendment is one that I Boswell Hinchey on final passage. Mr. Speaker, this Brady (PA) Hinojosa Price (NC) believe we should all be behind. I be- Quigley final amendment is noncontroversial, Braley (IA) Hirono lieve that we can all vote ‘‘yes’’ on this Brown (FL) Hochul Rahall and it aims to do one simple thing— final amendment. Butterfield Holden Reyes and that is to protect the land of tax- Capps Holt Richardson I yield back the balance of my time. Capuano Honda Richmond payers. Mr. HASTINGS of Washington. Mr. The bill, itself, goes against so many Cardoza Hoyer Ross (AR) Speaker, I rise in opposition to the mo- Carnahan Israel Rothman (NJ) things that the majority has said that tion to recommit. Carney Jackson Lee Roybal-Allard they would fight for in this Congress. Carson (IN) (TX) Ruppersberger The SPEAKER pro tempore. The gen- Castor (FL) Johnson (GA) This legislation would provide a local Ryan (OH) Chandler Johnson, E. B. tleman is recognized for 5 minutes. Sa´ nchez, Linda county in Virginia an $800,000 windfall Chu Jones Mr. HASTINGS of Washington. Mr. T. by allowing the county to violate a Cicilline Kaptur Speaker, the author of this motion to Sanchez, Loretta contractual agreement without any Clarke (MI) Keating Sarbanes justification. That’s the current bill. recommit clearly did not hear the de- Clarke (NY) Kildee bate. This land is owned by Accomack Clay Kind Schakowsky That’s what the bill that you want to Schiff County in Virginia. It is not a transfer. Cleaver Kissell pass does. I’m against that. Here in Clyburn Kucinich Schrader this Congress we did away with ear- It’s a deed restriction lift. That’s all it Cohen Langevin Schwartz marks. But when I look at this $800,000 is. The land is owned by a county in Connolly (VA) Larsen (WA) Scott, David Serrano windfall that you are voting on, I say Virginia. Conyers Larson (CT) Mr. Speaker, when we had testimony Cooper Levin Sewell that’s an earmark. Costa Lewis (GA) Sherman This is a very small step in the larger on this bill in the committee, the gov- Costello Loebsack Shuler Republican plan to sell off our valuable ernment of Accomack County testified, Courtney Lofgren, Zoe Sires Federal land, such as National Parks, obviously, in favor of it, and they said Critz Lowey Slaughter Crowley Luja´ n Smith (WA) forests, and public lands to developers. they wanted this for industrial use. Cuellar Lynch Now, this is local control. Doesn’t the Speier However, even if you’re for giving away Cummings Maloney Stark Davis (CA) Markey land the way that’s done in this bill, other side even trust local control, for Sutton DeFazio Matheson goodness sake, in testimony in front of Thompson (CA) my final amendment would give us the DeGette Matsui Thompson (MS) opportunity to ensure that this land a committee? DeLauro McCarthy (NY) would not be owned and used for adult I have to say also that history tends Deutch McCollum Tierney Tonko entertainment facilities or sold to or to repeat itself. In this body, it tends Dicks McDermott Dingell McGovern Towns used by a foreign government that to repeat itself, it seems like, on a Donnelly (IN) McIntyre Tsongas could use this to steal our national se- weekly basis. Now, why do I say that? Doyle McNerney Van Hollen curity secrets. Because the two issues that are facing Edwards Meeks Vela´ zquez So I ask my colleagues on the other the American people are jobs and the Ellison Michaud Visclosky Engel Miller (NC) Walz (MN) side: Will you join us in protecting tax- price of energy. Yet here we have a bill Eshoo Miller, George Wasserman payer-owned land? in front of us that would certainly cre- Farr Moore Schultz

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00026 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.056 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1419 Waters Waxman Wilson (FL) b 1716 Scott (SC) Stivers West Watt Welch Woolsey Scott (VA) Stutzman Westmoreland Mr. POLIS changed his vote from Scott, Austin Sullivan Whitfield NOES—226 ‘‘aye’’ to ‘‘no.’’ Scott, David Terry Wilson (SC) Sensenbrenner Thompson (PA) Wittman Adams Goodlatte Olson So the motion to recommit was re- Shimkus Thornberry Wolf Aderholt Gosar Palazzo jected. Shuster Tiberi Alexander Gowdy Paulsen Womack The result of the vote was announced Simpson Turner (NY) Woodall Amash Granger Pearce Smith (NE) Turner (OH) Yoder Amodei Graves (GA) Pence as above recorded. Smith (NJ) Upton Young (AK) Austria Graves (MO) Petri The SPEAKER pro tempore. The Smith (TX) Walberg Young (FL) Bachmann Griffin (AR) Pitts question is on the passage of the bill. Southerland Walden Barletta Griffith (VA) Platts Stearns Webster Young (IN) Bartlett Grimm Poe (TX) The question was taken; and the Barton (TX) Guinta Polis Speaker pro tempore announced that NOES—164 Bass (NH) Guthrie Pompeo the ayes appeared to have it. Ackerman Fitzpatrick Neal Benishek Hall Posey Altmire Frank (MA) Olver RECORDED VOTE Berg Hanna Price (GA) Amash Fudge Owens Biggert Harper Quayle Mr. GARAMENDI. Mr. Speaker, I de- Andrews Garamendi Pallone Bilbray Harris Reed mand a recorded vote. Baca Gerlach Pascrell Bilirakis Hartzler Rehberg Baldwin Green, Al Pastor (AZ) Bishop (UT) Hastings (WA) Reichert A recorded vote was ordered. Bass (CA) Green, Gene Pelosi Black Hayworth Renacci The SPEAKER pro tempore. This Becerra Grijalva Peters Blackburn Heck Ribble will be a 5-minute vote. Berman Gutierrez Peterson Bonner Hensarling Rigell Bishop (GA) Hahn Pingree (ME) Boustany Herger Rivera The vote was taken by electronic de- Bishop (NY) Hastings (FL) Polis Brady (TX) Herrera Beutler Roby vice, and there were—ayes 240, noes 164, Blumenauer Higgins Price (NC) Brooks Huelskamp Roe (TN) Bonamici Himes not voting 27, as follows: Quigley Broun (GA) Huizenga (MI) Rogers (AL) Brady (PA) Hinchey Rahall Buchanan Hultgren Rogers (KY) [Roll No. 117] Braley (IA) Hinojosa Reyes Bucshon Hunter Rogers (MI) AYES—240 Brown (FL) Hirono Buerkle Hurt Rohrabacher Butterfield Hochul Richardson Burton (IN) Issa Rokita Adams Forbes Lungren, Daniel Capps Holden Richmond Calvert Jenkins Rooney Aderholt Fortenberry E. Capuano Holt Ross (AR) Camp Johnson (IL) Ros-Lehtinen Alexander Foxx Mack Cardoza Honda Rothman (NJ) Campbell Johnson (OH) Roskam Amodei Franks (AZ) Marchant Carnahan Hoyer Roybal-Allard Austria Frelinghuysen McCarthy (CA) Canseco Johnson, Sam Ross (FL) Carney Israel Ryan (OH) Bachmann Gallegly McCaul Cantor Jordan Royce Carson (IN) Jackson Lee Sanchez, Loretta Barletta Gardner McClintock Capito Kelly Runyan Castor (FL) (TX) Sarbanes Barrow Garrett McCotter Carter King (IA) Ryan (WI) Chu Johnson (GA) Schakowsky Bartlett Gibbs McHenry Cassidy King (NY) Scalise Cicilline Johnson, E. B. Schiff Barton (TX) Gibson McIntyre Chabot Kingston Schilling Clarke (MI) Kaptur Schwartz Benishek Gingrey (GA) McKeon Chaffetz Kline Schmidt Clarke (NY) Keating Serrano Berg Gohmert McKinley Coble Labrador Schweikert Clay Kildee Sewell Berkley Goodlatte McMorris Coffman (CO) Lamborn Scott (SC) Clyburn Kind Biggert Gosar Rodgers Sherman Cole Lance Scott (VA) Cohen Kucinich Bilbray Gowdy Mica Shuler Conaway Landry Scott, Austin Connolly (VA) Langevin Bilirakis Granger Michaud Sires Cravaack Lankford Sensenbrenner Conyers Larson (CT) Bishop (UT) Graves (GA) Miller (FL) Slaughter Crawford Latham Shimkus Cooper Levin Black Graves (MO) Miller (MI) Smith (WA) Crenshaw LaTourette Shuster Costa Lewis (GA) Blackburn Griffin (AR) Miller, Gary Speier Culberson Latta Simpson Costello Loebsack Bonner Griffith (VA) Moran Stark Davis (KY) LoBiondo Smith (NE) Courtney Lofgren, Zoe Boren Grimm Mulvaney Sutton Denham Long Smith (NJ) Critz Lowey Boswell Guinta Murphy (PA) Thompson (CA) Dent Lucas Smith (TX) Crowley Luja´ n Boustany Guthrie Myrick Thompson (MS) DesJarlais Luetkemeyer Southerland Cuellar Lynch Brady (TX) Hall Neugebauer Tierney Diaz-Balart Lummis Stearns Cummings Maloney Brooks Hanabusa Noem Tonko Dreier Lungren, Daniel Stivers Davis (CA) Markey Broun (GA) Hanna Nugent Duffy E. Stutzman DeGette Matheson Towns Buchanan Harper Nunes Duncan (SC) Mack Sullivan DeLauro Matsui Tsongas Bucshon Harris Nunnelee Duncan (TN) Marchant Terry Deutch McCarthy (NY) Van Hollen Buerkle Hartzler Olson ´ Ellmers McCarthy (CA) Thompson (PA) Dicks McCollum Velazquez Burgess Hastings (WA) Palazzo Emerson McCaul Thornberry Dingell McDermott Visclosky Burton (IN) Hayworth Paulsen Farenthold McClintock Tipton Donnelly (IN) McGovern Walz (MN) Calvert Heck Pearce Fincher McCotter Turner (NY) Doyle McNerney Wasserman Camp Heinrich Pence Fitzpatrick McHenry Turner (OH) Edwards Meeks Schultz Campbell Hensarling Petri Flake McKeon Upton Ellison Miller (NC) Waters Canseco Herger Pitts Fleischmann McKinley Walberg Engel Miller, George Watt Cantor Herrera Beutler Platts Fleming McMorris Walden Eshoo Moore Waxman Capito Huelskamp Poe (TX) Flores Rodgers Webster Farr Murphy (CT) Welch Carter Huizenga (MI) Pompeo Forbes Mica West Fattah Nadler Wilson (FL) Cassidy Hultgren Posey Fortenberry Miller (FL) Westmoreland Filner Napolitano Woolsey Chabot Hunter Price (GA) Foxx Miller (MI) Whitfield Chaffetz Hurt Quayle Franks (AZ) Miller, Gary Wilson (SC) NOT VOTING—27 Chandler Issa Reed Frelinghuysen Mulvaney Wittman Akin Kinzinger (IL) Rush Coble Jenkins Rehberg Gallegly Murphy (PA) Wolf Bachus Lee (CA) Sa´ nchez, Linda Coffman (CO) Johnson (IL) Reichert Gardner Myrick Womack Bass (NH) Lewis (CA) Cole Johnson (OH) Renacci T. Garrett Neugebauer Woodall Bono Mack Lipinski Conaway Johnson, Sam Ribble Schock Gerlach Noem Yoder Cleaver Manzullo Cravaack Jones Rigell Sessions Gibbs Nugent Young (AK) Davis (IL) Marino Crawford Jordan Rivera Tipton Gibson Nunes Young (FL) Doggett Meehan Crenshaw Kelly Roby Walsh (IL) Gingrey (GA) Nunnelee Young (IN) Dold Paul Culberson King (IA) Roe (TN) Yarmuth Gonzalez Perlmutter Davis (KY) King (NY) Rogers (AL) Jackson (IL) Rangel NOT VOTING—25 DeFazio Kingston Rogers (KY) Akin Jackson (IL) Rangel Denham Kissell Rogers (MI) b 1725 Bachus Kinzinger (IL) Rush Dent Kline Rohrabacher Bono Mack Lee (CA) Schock DesJarlais Labrador Rokita So the bill was passed. Burgess Lewis (CA) Sessions Diaz-Balart Lamborn Rooney The result of the vote was announced Davis (IL) Lipinski Tiberi Dreier Lance Ros-Lehtinen as above recorded. Doggett Manzullo Walsh (IL) Duffy Landry Roskam Duncan (SC) Lankford Ross (FL) A motion to reconsider was laid on Dold Marino Yarmuth Gohmert Meehan Duncan (TN) Larsen (WA) Royce the table. Ellmers Latham Runyan Gonzalez Paul PERSONAL EXPLANATION Emerson LaTourette Ruppersberger ANNOUNCEMENT BY THE SPEAKER PRO TEMPORE Farenthold Latta Ryan (WI) Mr. AKIN. Mr. Speaker, on rollcall Nos. 115, Fincher LoBiondo Scalise 116 and 117, I was delayed and unable to The SPEAKER pro tempore (during Flake Long Schilling vote. Had I been present I would have voted Fleischmann Lucas Schmidt the vote). There are 2 minutes remain- Fleming Luetkemeyer Schrader ‘‘no’’ on No. 115, ‘‘no’’ on No. 116, and ‘‘aye’’ ing. Flores Lummis Schweikert on No. 117.

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00027 Fmt 4634 Sfmt 9920 E:\CR\FM\A20MR7.031 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1420 CONGRESSIONAL RECORD — HOUSE March 20, 2012 PERSONAL EXPLANATION versary of the Beth David Congrega- most toxic components of President Mr. DOLD. Mr. Speaker, due to district busi- tion in my congressional district. This Obama’s Affordable Care Act. This de- ness, I was unavoidably back in my Congres- Saturday, March 24, Beth David will nial-of-care board is comprised of 15 sional District on March 20, 2012. Had I been hold its centennial celebration to unelected, unaccountable bureaucrats present, I would have voted ‘‘yea’’ on H.R. honor its congregation and its founding that will be empowered to cut Medi- 665, the Excess Federal Building and Property members. care in order to meet arbitrary spend- Disposal Act of 2011, and ‘‘yea’’ on H.R. For the last century, Beth David has ing targets. 2087, ‘‘To remove restrictions from a parcel of been the cornerstone of the south Flor- Not only will this result in seniors land situated in the Atlantic District, Accomack ida Jewish community. What started being denied access to medical care County, Virginia.’’ out as a congregation of just a handful they need, it will also put the govern- f of dedicated Jewish families has be- ment in the middle of the patient-doc- come a dynamic, thriving institution tor relationship. APPOINTMENT OF MEMBERS TO that is the cultural and educational Spending cuts proposed by the IPAB THE JOINT CONGRESSIONAL epicenter for Judaism in south Florida. will automatically go into effect unless COMMITTEE ON INAUGURAL But Beth David does not just have an Congress finds alternative cuts of the CEREMONIES incredibly rich history of outstanding same amount. And because implemen- The SPEAKER pro tempore. The service to the Jewish community. No, tation of the board’s recommendations Chair announces the Speaker’s ap- the congregation has been at the fore- is exempted from judicial review, citi- pointment, pursuant to Senate Concur- front and actively engaging our entire zens can’t even turn to the courts for rent Resolution 35, 112th Congress and community, tirelessly working to re- help. the order of the House of January 5, pair the community one mitzvah at a As a physician with over 30 years in 2011, of the following Members of the time. And for that I congratulate Beth practice, I can tell you that the Presi- House to the Joint Congressional Com- David, and I thank all of the congrega- dent’s proposal, which he has repeat- mittee on Inaugural Ceremonies: tion for everything they have done and edly defended, is wrongheaded and dan- Mr. BOEHNER, Ohio everything they have meant to our gerous. Mr. CANTOR, Virginia south Florida community. We must act to save Medicare from Ms. PELOSI, California I wish them continued success and bankruptcy, which will come as soon as f 100 more years. 2016, but IPAB is not and must not be the answer. REPEAL THE AFFORDABLE CARE f ACT f REPEAL IPAB (Mr. THOMPSON of Pennsylvania ONGOING HEALTH CARE DEBATE (Mr. FLEMING asked and was given asked and was given permission to ad- The SPEAKER pro tempore (Mr. permission to address the House for 1 dress the House for 1 minute and to re- GOWDY). Under the Speaker’s an- minute.) vise and extend his remarks.) nounced policy of January 5, 2011, the Mr. FLEMING. Mr. Speaker, we now Mr. THOMPSON of Pennsylvania. gentleman from Georgia (Mr. have reached a landmark, 2 years since Mr. Speaker, just last week the non- WOODALL) is recognized for 60 minutes the passage of ObamaCare. More and partisan Congressional Budget Office as the designee of the majority leader. more, the American people have been served a devastating blow to President Mr. WOODALL. I appreciate the ma- hearing about something called IPAB, Obama’s most frequently uttered prom- jority leader giving me the time to the Independent Payment Advisory ise during debate over the Affordable come down here today, because I’ve got Board—the centerpiece to ObamaCare Care Act: ‘‘If you like your present IPAB on my mind, Mr. Speaker. I say and its inevitable rationing of health coverage, you can keep it.’’ that like everybody knows what that is care. The CBO predicted the law would because we talk about it here in this This is a board of 15 unelected, unac- lead to a net loss of employer-based in- Chamber all day long. IPAB, a word countable and not necessarily health surance coverage for between three and that was not even in the lexicon of care-experienced individuals who will five million people each year between America until the President passed his have more power than even Congress, the years of 2019 and 2022, with as many health care bill. itself, when it comes to deciding what as 20 million Americans losing their What is IPAB? I happened to bring care every American will receive. The current insurance plans. down with me today, Mr. Speaker, the board members will not be under con- Now, as we approach the second anni- front page of the President’s health gressional oversight and will not an- versary of the Affordable Care Act, the care bill, the Patient Protection and swer the phone when you call to com- full impact of this law remains un- Affordable Care Act as he describes it. plain. Americans agree by 57 percent to known. However, a few things are quite This was the 900-page law that was 38 percent margins ObamaCare and clear. Supporters said it would lower passed that completely restructured a IPAB should be fully repealed. costs. It hasn’t. They said it would im- sixth of the American economy. So far, Democrats have been unwill- prove quality. It hasn’t. The President The question then is, when we’re ing to listen to the outcry from the said you can keep your current plan if talking about the Patient Protection American people. They will have yet you like it. This clearly is not the case. and Affordable Care Act and we’re another chance to respond to ‘‘we the By the administration’s own esti- talking about how we change the indi- people’s’’ unhappiness with ObamaCare mates, the new health care regulations vidual health care decisions that every by voting with Republicans this week will force most firms, and up to 80 per- American gets to make, what do we get to repeal IPAB. And, hopefully, they cent of small businesses, to give up for it? What’s the value added there? will be willing to vote to repeal their current plans by 2013. Because I think, Mr. Speaker, at the ObamaCare, itself, in its entirety when Mr. Speaker, the American people end of the day, when folks are talking it is brought up for a vote sometime in can’t afford another year of the so- about what motivates them, it really is the future. called Affordable Care Act. affordable care. That’s why we named f b 1730 the bill this way, the Patient Protec- tion and Affordable Care Act. We want RECOGNIZING THE BETH DAVID IPAB patients to be protected, to be able to CONGREGATION’S 100TH ANNI- (Mr. ROE of Tennessee asked and was make their own health care choices. VERSARY given permission to address the House We want care to be made available to (Ms. ROS-LEHTINEN asked and was for 1 minute and to revise and extend folks at prices that American families given permission to address the House his remarks.) can afford. There are 900 pages in that for 1 minute and to revise and extend Mr. ROE of Tennessee. Mr. Speaker, health care bill, Mr. Speaker. her remarks.) tomorrow we begin debate on a bill Now, IPAB, how would we describe Ms. ROS-LEHTINEN. Mr. Speaker, that would eliminate the Independent it? We would call IPAB the hammer in today I rise to recognize the 100th anni- Payment Advisory Board, one of the the health care bill, because there are

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00028 Fmt 4634 Sfmt 0634 E:\CR\FM\A20MR7.032 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1421 lots of ways to save money, Mr. Speak- charges that they get back when they Peter Orszag, the OMB Director, the er. You can save money by introducing go to the doctor’s office. It’s not al- first one that President Obama used, competition into a system. ways easy to understand, but we go said this about health care costs in I’m from Atlanta, Mr. Speaker. I’ve through it together. It occurs to me Medicare: got a soft spot in my heart for the that if Medicare is going to save The core problem is that health care costs Coca-Cola Company. But how many money, there is only one way Medicare are concentrated among expensive treat- Coca-Cola machines do you pass on the can do that. If we don’t allow competi- ments for chronic diseases and for end-of-life street where the Coke is selling for $3 tion in the system, if we don’t allow care. a can while the Pepsi right beside it is patient choice in the system, if we b 1740 selling for $1.50? How many? Have you don’t allow provider choice in the sys- Mr. Speaker, let me reflect on that a tem, there is only one way that Medi- ever seen that happen? The answer is minute. I’ve just shown you the 40 care can save a dime; that is by re- ‘‘no’’ because competition completely pages of law in the President’s health stricting services. Now, that comes in moves those machines out of the mar- care bill that are the cost-saving mech- lots of different ways, and I want to ketplace. If the Pepsi is a dollar, the anism that the President has proposed make sure I’m absolutely candid, Mr. Coke’s going to be a dollar, too. If the and that has been passed into law. The Speaker, and accurate, because this is Pepsi is $2, the Coke is going to be $2. OMB Director, the Office of Manage- the panel. Competition controls those prices. ment and Budget Director, for the What controls prices in the Patient Do you remember the death panel discussions? Do you remember that be- Obama administration said this: Protection and Affordable Care Act? The core problem is that health care costs Because we’ve heard time and time coming a part of the lexicon in Amer- ica, the death panels that Congress was are concentrated among expensive treat- again, Mr. Speaker, on the floor of this ments for chronic diseases and for end-of-life House that the Patient Protection Act going to create? This is that. I mean, care. this is where that idea came from, be- restricts my choices as a consumer. Mr. Speaker, what choices, then, does cause what we have here is a board We’ve heard time and time again on that give us? If we agree that IPAB is that makes decisions, recommenda- the floor of this House, Mr. Speaker, a critical measure for lowering health tions about how to change Medicare that the Patient Protection Act re- care costs and if we agree that health spending. stricts doctors and the services that Well, if we’re not going to provide care costs are primarily concentrated they provide. We’ve heard time and competition, if we’re not going to allow with expensive treatments for chronic time again, Mr. Speaker, that the Pa- doctors more decisions, if we’re not diseases and end-of-life care, how ex- tient Protection Act restricts the going to allow other providers more de- actly is this unelected board going to choices that insurance companies can cisions, then the only way to change lower those costs? provide. So, if it’s all of these restric- the financing structure of Medicare is It’s an honest question. If that’s what tions on competition, how in the world to restrict either the services that has to happen for Medicare to be saved, does the Patient Protection Act save Medicare provides or the amount of exactly how is this board going to do the money that needs to be saved to money that is being paid to providers. that? Every American on Medicare and make health care affordable? Now, I want to give my friends who every American approaching Medicare The answer is this: It’s in section passed this bill the benefit of the needs to have that on their mind. What 3403. Again, I don’t encourage folks at doubt, Mr. Speaker. I don’t believe is it that IPAB, this unelected board, is home to read this bill, Mr. Speaker, un- there is a single Member of this body going to do to save costs? We all—Re- less they’ve got time on their hands. who would stand here in the well and publicans and Democrats alike—agree There’s lots of good summaries out say that their decision about how to that the only purpose of IPAB is to there. It’s over 900 pages long, and it’s save the Medicare program is to re- control costs. We agree—Republicans signed into law. I don’t think folks are strict the services that Medicare bene- and Democrats alike—that the money going to be able to read this back in ficiaries can access, not one. I don’t in Medicare is concentrated among ex- their offices, Mr. Speaker. think one Member, Republican or Dem- pensive treatments for chronic diseases This is about 46 pages that I’ve put ocrat, will come to the well of this and end-of-life care. So if IPAB is going up here just on one in case we needed House and say that their proposal for to control costs and the costs are here, to reference it, but 46 pages of law de- saving Medicare is to find seniors in what choice do we have but to deny in- fining this brand-new thing that we’ve need of health care and tell them ‘‘no.’’ dividuals expensive treatments for never had before in America, the Inde- Not one. But, Mr. Speaker, what’s the chronic diseases and end-of-life care? pendent Payment Advisory Board. effect, then, of the Independent Pay- What else is there? If you read these 40 pages, Mr. Speak- ment Advisory Board? To me, that’s common sense, that er, what you’re going to find is that the Let’s look at what folks have said. this is where the President’s proposal Congress that passed the President’s This is GEORGE MILLER, one of my is going. I do not endorse this proposal. health care bill—and it was not this colleagues here on the floor of the I was not here in this Congress, Mr. Congress, Mr. Speaker. You were not House, a Democrat from California. Speaker, when this proposal passed. here in that Congress. I was not here in We’re taking up, tomorrow, a bill that Had I been here, I would have voted an that Congress. It did not pass the Con- will repeal this Independent Payment enthusiastic ‘‘no.’’ gress under normal rules and proce- Advisory Board, this Medicare board. Nevertheless, it is the law of the land dures. It passed in a manipulated rec- We’re going to repeal it tomorrow, I be- as we sit here today, and our seniors onciliation process designed inten- lieve, here on the floor of the House. are at risk. How many times have we tionally to thwart the will of the House When talking about that, my colleague heard supporters of the President’s and of the Senate. But in that bill, from California said this: health care bill say, No, IPAB is not a they said Congress can’t control these IPAB is a critical measure for lowering Medicare rationing board. In fact, if costs; and, candidly, I’m glad. I don’t health care costs. you want to dig deep into these 40 want Congress controlling my health He’s absolutely right. I’m not picking pages, you’ll find that said over and care costs. on him at all. I’m endorsing what he over again. Folks continually say, this So what did they do? They went to an has to say. That’s what these 40 pages is not a Medicare rationing board. But independent commission. The Presi- of law, Mr. Speaker, do. They are all we know where the costs are, and the dent is going to appoint this commis- designed to cut costs. But we’ve talked question is how do we control them. sion, Mr. Speaker. The President will about it. If we’re not going to intro- What my friends who support the appoint members to sit on this inde- duce competition, if we’re not going to President’s health care bill say is, no, pendent Medicare advisory board, and introduce choices, if we’re not going to we’re not going to deny care to Medi- what they will do is decide where Medi- introduce options, how are we going to care beneficiaries; we’re just going to care should save money. cut costs? We all agree, Republicans clamp down on payments to doctors. Now, my mom and dad just went on and Democrats alike, that the IPAB That’s what they say: We’re just going Medicare, Mr. Speaker. I sit down with board is a critical measure for lowering to change the payment schedules for them. I look at their statement of health care costs. doctors.

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00029 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.065 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1422 CONGRESSIONAL RECORD — HOUSE March 20, 2012 I’ve got news for you, Mr. Speaker. Medicare, are going to be able to find ices. That’s really the hypocrisy, Mr. That’s been the Medicare plan for dec- care. They cannot. Speaker, for lack of a better word, that ade, upon decade, upon decade, upon From that same article, Mr. Speaker, I hear on the floor of this House: decade; and this is what you get. This ‘‘Doctors Going Broke.’’ Again, Janu- Oh, we’re going to go out there and is from a CNNMoney article from Janu- ary 6, 2012, from CNN Money Magazine. we’re going to save all this money. ary 6 of this year titled ‘‘Doctors Going Dr. William Pentz said: How are you going to do it? Broke.’’ It recounts the many changes Recent steep 35 percent to 40 percent cuts We’re going to go out there and cut that have happened in the Medicare in Medicare reimbursements for key cardio- those reimbursements to docs. system as we continue to do nothing vascular services, such as stress tests and All right. It sounds like you’re liable about choices, nothing about options, echocardiograms, have taken a substantial to end up rationing services. toll on revenue. nothing about getting the consumer in- Oh, no. IPAB, that’s not going to ra- volved in health care decisions, but He also says: tion any services. No, no, no. They continuing to use the same old broken These cuts have destabilized private cardi- don’t have the authority to cut out tools to solve the Medicare issue. It ology practices. A third of our patients are services. That’s not what they do. on Medicare. says this: Well, what are they going to do? So these Medicare cuts are by far the In 2005, Medicare revised the reimburse- Well, they’re going to cut the reim- ment guidelines for cancer drugs, which ef- biggest factor. Then, Mr. Speaker, he bursement rates. fectively made reimbursements for many ex- says private insurers follow Medicare Well, what’s going to happen? pensive cancer drugs fall to less than the ac- rates. Those reimbursements are going Well, docs will just keep providing tual cost of the drugs. down as well. You know, he is right those services. You can tell me you don’t want a about that. When the Federal Govern- b 1750 Medicare rationing board, Mr. Speaker. ment pays two-thirds of all the health I don’t want a Medicare rationing care costs in this country, Mr. Speak- We saw it here. board either. But if what we’re going to er, and the Federal Government de- Money magazine tells you, when you have is a board that is going to cut the cides it can get away with paying less, are only reimbursing folks at the cost costs of Medicare and they’re going to guess what? Everybody else wants to of the service or less, they’re going to do that by cutting reimbursements to get away with paying less too. That is quit providing. According to providers and what we already see is a good capitalist system. I don’t fault factcheck.org—those folks who go that we’re cutting reimbursements to folks for that. What I fault folks for is around and look at all the claims poli- providers to the point that those reim- standing on the floor of this House and ticians make and try to figure out bursements fall below the cost of the promising the American people a pro- which ones are real and which ones are service, what do you think is going to gram that they pay into all of their life full of hot air—this is what they said: happen to Medicare beneficiaries when so it will be available for them in their ‘‘31 percent of primary physicians re- they go to seek services? I’ll tell you. time of need and then cutting rates to stricted Medicare patients in their The President’s health care bill, Mr. a place where you cannot find a doctor practices.’’ You know what that Speaker, primarily solved the chal- who will serve you. Mr. Speaker, the means. That means that 31 percent of lenge of the uninsured by dumping hypocrisy of saying that we’re going to all the doctors in the land who provide them onto State Medicaid policies. I care about people in their time of need primary care services, those most- don’t think that is a particularly cre- and putting the people out of business needed services, said they do not take ative solution, but it is certainly an who provide for them in that time of every Medicare patient that comes option. need is deafening. knocking on their door. They can’t. My uncle is a primary care doc down I go again to that same article of They restrict how many Medicare pa- in central Georgia. There used to be a January 6, 2012, ‘‘Doctors Going tients they’ll take into their practice. bunch of docs who would see Medicare Broke.’’ The same doctor, William We’ve already seen that we’re put- patients in that part of the world. Pentz, a cardiologist there in Philadel- ting docs out of business. We’re forcing Today he’s the only one who will see phia: docs into retirement. Who is going to Medicaid. He is the only one. In five If this continues, I might seriously con- provide the care, Mr. Speaker? Who is counties, Mr. Speaker, he is the only sider leaving medicine. I can’t keep working going to provide the care if we force doc that will see Medicaid patients. this way. the people who do it today out of busi- Don’t tell me that our goal here in He goes on to talk about how the law ness tomorrow? Congress is to help patients find care if of the land is going to provide even fur- Back to factcheck.org: ‘‘62 percent of we’re going to lower reimbursement ther cuts. He said: family practitioners would stop accept- rates to a place where no doctor will If that continues, it will put us under. ing Medicare patients if reimburse- accept them. I don’t care that you have My dad is going in for heart surgery ment rate cuts follow current law.’’ an insurance policy if you can’t find a in about 30 days, Mr. Speaker. We Hear that, Mr. Speaker. Hear that. Let doctor who will take it. It does not shopped long and hard to find a doctor me say it again: If reimbursement matter that the government says that we would trust to do that surgery, rates follow the current law. I’m not you’re guaranteed health care if you just as every American family does. talking about if some new draconian can’t find a doctor who will provide it. Who are folks going to trust, Mr. procedure gets put in place. I’m not Mr. Speaker, that’s not news to any- Speaker? Who are folks going to find if talking about if some crazy future Con- one who has had a job in the private we put the people who provide the care gress comes in here and tries to further sector; that’s not news to anyone who out of business? socialize health care. No, no. If the cur- has had to write paychecks from their IPAB, Mr. Speaker, these 40 pages rent law of the land, as passed before business; and it’s not news to anyone from the President’s health care bill, you and I came to Congress, Mr. Speak- who has been a consumer. the only 40 pages that are designed to er, if the current law of the land con- I’m a coupon clipper, Mr. Speaker. I reduce costs, do not reduce costs tinues, 62 percent of family practi- cut them out of the Sunday paper. I go through competition, do not reduce tioners would stop accepting Medicare into the store, I’ve got a big old cou- costs by providing consumer choices, patients. pon, I think I’m going to get a good do not reduce costs by getting con- What is IPAB going to do? It’s going deal, and the store doesn’t carry the sumers involved in their own health to control costs. How’s it going to do product. What is that coupon worth to care. They reduce costs by either ra- it? It’s going to do it by cutting reim- me if I can’t find the product, Mr. tioning services or by cutting reim- bursements to providers. What happens Speaker? Not a thing. That’s what bursements to a place where the mar- when you cut reimbursements to pro- we’re doing when we clamp down on ketplace rations those services on its viders? Sixty-two percent of all of costs. Don’t you dare believe that we own. America’s family practitioners will can continue to cut docs year after Don’t believe for a moment, Mr. stop accepting Medicare patients. year after year after year and that Speaker, that cutting reimbursements Mr. Speaker, what we do here has your family and my family, who are on to doctors doesn’t equal cutting serv- consequences. This isn’t some think

VerDate Mar 15 2010 03:54 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00030 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.067 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1423 tank downtown that has the freedom to success by how many favorable news- place, using the power of the American just pontificate, to make recommenda- paper articles are written about them. people, using the power of the Amer- tions, to wonder how things could have They don’t evaluate their success by ican family, and not just by rationing been. This is a body where every single how many times they’ve seen their face care, as this IPAB board does. thing that we do has the potential to on TV. And they certainly don’t evalu- This is the headline. I’m going to affect—positively or negatively—the ate their success based on what the read it again, Mr. Speaker, just be- lives of every single citizen of the land. mass media writes about them in this cause I like it so much: ‘‘In risky elec- There are no free lunches in America, town. They evaluate their success tion year move, Republicans offer Mr. Speaker. There is no something for based on whether or not the promises Medicare alternatives.’’ They go on to nothing. You can control costs through they made to folks before they got say this: ‘‘Running a political risk dur- competition. You can control costs elected are the priorities that they’ve ing an election year, Republicans con- through getting consumers involved in set for themselves now that they have tinue to offer proposals to cut future their own health care. You can control been elected. And each and every day, Medicare outlays.’’ Medicare outlays, costs by providing folks with more I see people making that a reality. Re- that’s this dramatic rise we see in choices. You cannot control costs re- publicans and Democrats alike, Mr. Medicare spending, Mr. Speaker. It’s sponsibly by putting providers out of Speaker, in this freshman class came not a rise associated with quality of business and rationing care through to this Congress for a different purpose, care. It’s not a rise that’s associated the long lines that are then going to with a different mission, with a dif- with whether or not people get the result. ferent vision. And I see them imple- services they need. It’s a rise that’s as- We are going to deal with this bill to- menting it every day. It makes me sociated with an out-of-control Federal morrow, in fact, and I would be happy proud. health care program that has abso- to yield to my friend from the Rules Speaking of being proud, Mr. Speak- lutely no consumer involvement at all, Committee to help make that happen. er, you know, folks back home say, absolutely no competition at all, abso- f ROB, how come we don’t see you on lutely no free market involvement at FOX News preaching the good conserv- all. And it’s going broke. REPORT ON RESOLUTION PRO- ative news? I tell them, Mr. Speaker, We have a proposal to fix it. What is VIDING FOR CONSIDERATION OF that anybody who is watching FOX our proposal? Well, I didn’t just bring H.R. 5, PROTECTING ACCESS TO News already knows the good conserv- our proposal, Mr. Speaker. But I HEALTHCARE ACT ative news. They don’t need to hear it brought our proposal, and I want to Mr. NUGENT, from the Committee on from me. The folks who need to hear compare it to the President’s approach. Rules, submitted a privileged report from me are the folks who are watch- There are two things we need to talk (Rept. No. 112–416) on the resolution (H. ing MSNBC. That is who needs to hear about when we talk about changes to Res. 591) providing for consideration of my message. And I happened to bring Medicare, Mr. Speaker, and you know the bill (H.R. 5) to improve patient ac- some MSNBC knowledge down here this better than most. There are cess to health care services and provide with me today. changes to the Medicare program that improved medical care by reducing the This is a headline recently from the save it for future generations, and then excessive burden the liability system Web page, Mr. Speaker. This is what it there are changes to the Medicare pro- places on the health care delivery sys- said: ‘‘In risky election year move, Re- gram that destabilize today’s seniors. tem, which was referred to the House publicans offer Medicare alternatives.’’ A big difference in those two things. Calendar and ordered to be printed. Ooh. It kind of sounds ominous, doesn’t b 1800 f it, Mr. Speaker? Ominous. ‘‘In risky election year move, Republicans offer I’m in my forties, Mr. Speaker. My ONGOING HEALTH CARE DEBATE— Medicare alternatives.’’ Why? Why? Uncle Sam has to come to me today Continued For the reason I just talked about, Mr. and say, ROB, I know you’ve been pay- The SPEAKER pro tempore. The gen- Speaker, where we have this freshman ing your Medicare taxes in every single tleman from Georgia may proceed. class, where we have these senior Mem- paycheck since you were 16 and I know Mr. WOODALL. Mr. Speaker, I appre- bers of Congress who didn’t come here we promised you that Medicare was ciate that. to pontificate, who didn’t come here to going to be there for you like it was I was very lucky when my friend grandstand, who came here to make a there for your grandparents and your from Florida came to file that rule be- difference. parents; but ROB, we’ve got bad news. cause that’s another example that I don’t care that it’s an election year. It turns out we overpromised and we’re what we’re doing down here isn’t just In fact, if anything, Mr. Speaker, in an underdelivering and we’ve got to re- howling at the Moon. It isn’t just blow- election year, we ought to do more of negotiate our Medicare contract with ing hot air. the right things. We ought to spend you. What I’m talking about here on the even more time each and every day We do. floor right now is repealing this Inde- getting it right. ‘‘Risky election year That is the bad, bad news for your pendent Payment Advisory Board to move’’ is what folks say. I tell you, Mr. generation, Mr. Speaker, for my gen- stop this cycle of destruction that has Speaker, I would be disappointed if we eration, and for everybody younger. already been put into place. And no did anything else. Medicare is in crisis. The government—surprise, surprise— sooner do we come down here to do it This IPAB board is further desta- has overpromised and underdelivered. than my colleague from the Rules bilizing the Medicare program. You are And the time to tell me that is now, Committee comes down to file this doggone right it may be a risky move, not when I’m 65 and I can’t make any rule, Mr. Speaker, so that we can do but we did it anyway because it’s the more choices about my life, but today this bill not 2 years from today, not right thing to do. while I can still make accommoda- after the next election, not 6 months I sit on the Budget Committee. That tions. from now, kicking the can down the is actually what they are talking So I’ve divided this chart, Mr. Speak- road, but so that we can bring this bill about. This is a March 15 article. And er, up into two categories—what are to the floor tomorrow to address the they’re talking about the plan that we our proposals for current seniors and concerns that we’re talking about in the Budget Committee are going to what are our proposals for future sen- today. That’s why you and I came to hold a markup on tomorrow, which iors—and I’ve done the same thing for Congress, Mr. Speaker. That’s why this does what? All of these things I’ve been the President’s plan, because it is im- whole freshman class came to Con- talking about, Mr. Speaker: bringing portant that we do keep our promises gress. choices to consumers, bringing com- here. It’s no senior’s fault in this coun- You know, I’ve only been here now petition to the Medicare system, in- try that they’re dependent on Medi- about, what, 14, 15 months, Mr. Speak- vesting consumers in Medicare out- care. They paid into it their entire life er. And what I have found is that each comes. It does all of those things, Mr. for the part A through the Medicare and every day, my colleagues in this Speaker, that we believe can control taxes. They were promised it would be freshman class do not evaluate their costs using the power of the market- there for them in their time of need.

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00031 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.069 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1424 CONGRESSIONAL RECORD — HOUSE March 20, 2012 They didn’t ask for it. They didn’t so- that will most certainly deny seniors Mr. Speaker, we talk about shared licit it. The money was taken from care. Do I need to go back to the 40 sacrifice around here all the time, and them and now they deserve those bene- pages, Mr. Speaker, of the Patient Pro- I am not in favor of raising taxes on fits. tection and Affordable Care Act, sec- the American people. The American So here’s what we do. The program tion 3403, the advisory board, IPAB? people can’t afford it. The economy that’s coming out of the House Budget This is what it does. It’s the 15 can’t survive it. But what we can do is Committee, the program similar to unelected bureaucrats that have the start giving away less from Wash- what was passed on the floor of the power to cut Medicare in ways that, as ington, D.C. House last year and it’s coming before we have discussed, will most certainly And so what we say for future sen- the House next week, Mr. Speaker, has deny care. iors—folks in my generation, your gen- absolutely no changes—no changes, Mr. If your plan is to cut reimbursements eration, Mr. Speaker—is that your sup- Speaker—for today’s seniors. If you’re to doctors, fair enough. I think it’s port from the Medicare program is on Medicare today, no changes, no dis- shortsighted; I think it’s destructive. going to be less than low-income fami- ruptions in our plan, Mr. Speaker. That But if that is your plan, embrace that lies. If you’ve done well in your life and service, it’s already begun for you and plan, I say to folks who support the you can afford to help with the cost of it is going to continue uninterrupted President’s health care bill. Embrace it your Medicare, we’re going to ask you for as long as you need to utilize the and defend it. But be honest with the to do that. We’re going to means-test program. But the program is going American people who most certainly these things. bankrupt, Mr. Speaker, and so we’re know that if you cut those reimburse- We’re still going to be there for you; making some changes that will pre- ment rates to a level that doctors can- the Medicare program is still going to serve and protect it for this current not see patients, they will not see pa- be there for you. The promises we made generation of seniors. If we do nothing, tients. to you are still going to be kept. But in bankruptcy looms on the horizon. And And here’s one that doesn’t get the renegotiation, we’re going to con- if current seniors want it, we’ll allow talked about much, Mr. Speaker. The fess what America already knows, them to get what I’ll call personalized President’s plan raids the Medicare which is that this program is going Medicare like what Members of Con- program and removes $682 billion. This bankrupt and cannot be sustained, and gress have. is a program that’s already going bank- that in order to sustain it, we’re going Mr. Speaker, folks often think—in rupt. This is a program that already to ask folks who can’t afford it to pay fact, my mom sends me that email needs substantial reform to protect it more and recognize that folks who about once a week that says, ROB, I and preserve it for another generation. can’t afford it will pay less. That’s our can’t believe you’re getting all that The President’s health care bill, program for the future to save and free health care in Congress. You know which isn’t something that might hap- strengthen Medicare. that’s nonsense, Mr. Speaker. We have pen, it’s something that’s already the What does the President propose? exactly the same health care plan in law of the land, takes $682 billion that And this is so important, Mr. Speaker. Congress that every Federal employee was intended for Medicare beneficiaries Can I go back to what my good friends across the country has. And that plan and cuts it out—‘‘saves it’’ is the term at MSNBC said? This is how they de- is this: You open up a book that has of art they use around here, Mr. Speak- scribed this plan that I’m just describ- about 30 plans to choose from and you er, as you well know—cuts it and saves ing to you: In a risky election year choose the one that works best for you. it. What do they save it for? So they move, Republicans offer Medicare al- Imagine that. can bring it over here and spend it on ternatives. Imagine that our seniors today have the President’s new health care plan The President, for future seniors, of- had a lifetime of health care choices, for the rest of America; the nonseniors. fers no serious plan to save Medicare. If and the day they turn 65, Mr. Speaker, The program is already in trouble. I had the President’s budget down here they surrender their freedom as an Current law under the President’s with me, Mr. Speaker, it would be American and they are forced into a health care plan removes $682 billion about 12 inches tall. And it’s a serious health care system that they cannot designated for Medicare beneficiaries, budget. I don’t fault him for submit- opt out of—cannot opt out of. Oh, takes it out, moves it to the rest of the ting the budget. I’m glad he did. It lays you’re in it. You can opt out of Medi- population, again, exacerbating the out his priorities and his strategy for care part D, you can opt out of Medi- challenge. saving America. But there’s not one care part B, but you cannot opt out of Future seniors, what are we going to Medicare reform proposal in those 12 Medicare part A. You are in it. do? Well, our plan, Mr. Speaker, com- inches of budget. Not one. Not one. And if you want a doctor that won’t ing out of the Budget Committee, com- Why? take you—he’ll take other Medicare ing here to the floor as passed by the Because traditional politicians, Mr. patients but he won’t take you—the House last year, is personalized Medi- Speaker, think it’s risky in an election Federal law of the land prohibits you, care not just for current seniors but for year to propose things that shake up Mr. Speaker, from paying cash out of future seniors, Mr. Speaker. For folks the status quo. Mr. Speaker, it ought your pocket to see your doctor. That’s like you and me and our generation, to be risky in an election year to main- the law of the land where? Russia? when we get to Medicare age, we would tain the status quo when you know a China? It’s the law of the land in Amer- have choices. All Americans would program depended on by millions upon ica. have choices to choose the plan that millions upon millions of seniors is You turn 65, you enter the Big Gov- works best for them. going bankrupt today. ernment health care program, suddenly Do you need a plan that covers pre- your freedoms begin to be eroded. We scription drugs? Choose that. Do you b 1810 say no. We say let’s make Medicare need a plan that is flexible so you can Not tomorrow, not 10 years from have the choices that we as Members of summer in Florida and winter in New now. It’s happening today. It’s under Congress have, and let’s make those Jersey? Though I suspect, Mr. Speaker, way today. The time to stop it and available to current seniors. they’d probably be summering in New save it is today. And I don’t care if So to recap, Mr. Speaker, no changes Jersey and wintering in Florida; but if folks think it’s scary to propose it; or disruptions in our plan. We preserve they travel like that, maybe they need that’s what we came here to do. and protect the program for current that plan. Maybe they still have young What happened, Mr. Speaker? What seniors for the 30-year life of the pro- kids in the house and so need a plan happened to folks that caused them to gram and we personalize Medicare to that speaks to youngsters as well. believe the reason they came to Con- make it more like what we have in Folks could choose the plan, Mr. gress is to get reelected? What hap- Congress so that we can give those Speaker. Personalized health care, just pened? You didn’t come here to get re- folks choices. like what we have here in Congress. elected. I didn’t come here to get re- What does the President do for cur- Our plan, Mr. Speaker, means that elected. We came here to make a dif- rent seniors? He empowers 15 unelected wealthy families will get less and sick ference for families back home, we bureaucrats to cut Medicare in ways and low-income families will get more. came here to draw a line in the sand

VerDate Mar 15 2010 02:32 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00032 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.071 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1425 for saving America, and we came here ahead, if you think you need to cut ADJOURNMENT to get the American Dream of a suc- docs, cut docs; but just know those Mr. WOODALL. Mr. Speaker, I move cessful economy and freedom back on docs will not be there for you when you that the House do now adjourn. track. It ought to be risky to sit here need them to be because they can’t— The motion was agreed to; accord- and do nothing, Mr. Speaker. That because they can’t. ingly (at 6 o’clock and 16 minutes ought to be the risky thing. Do you really believe it, Mr. Speak- p.m.), under its previous order, the What has happened to this country er? Does anybody in America really be- House adjourned until tomorrow, that the risky thing for those who call lieve it? Find your primary care doctor Wednesday, March 21, 2012, at 10 a.m. themselves public servants is to do that lives down the street from you. for morning-hour debate. something instead of nothing? Because You know him or her. They’re in your f that’s what the President proposes in Sunday school class and they coach his 10-year budget plan: nothing, noth- your kids’ soccer team. You know who EXECUTIVE COMMUNICATIONS, ing that does one thing, that takes one they are. Do you really believe that ETC. baby step forward toward saving Medi- they’re the ones that are driving the Under clause 2 of rule XIV, executive care. In the Budget Committee, we are Medicare program into bankruptcy? Do communications were taken from the proposing serious alternatives. Are you really believe it? Or does the Wash- Speaker’s table and referred as follows: they going to be frightening to folks in ington establishment just use our docs, 5313. A letter from the Under Secretary, my generation? I don’t think so, Mr. the healers in our community, those Department of Defense, transmitting a letter Speaker. You and I have a long time folks who are there for us when we on the approved retirement of General Peter until retirement. Despite all our gray need them the most? Does the Wash- W. Chiarelli, United States Army, and his hair, we’ve got a couple of decades left advancement to the grade of general on the ington establishment just use those retired list; to the Committee on Armed before we get there; and we’ve got time folks as the scapegoats for what is a Services. to prepare, and we will, and America much more serious, much more sys- 5314. A letter from the Acting Under Sec- will. But it is our responsibility to temic underlying problem with the way retary, Department of Defense, transmitting offer those alternatives. The President that we finance federally funded health a letter on the approved retirement of Lieu- offers nothing, and Medicare goes care systems in this country? tenant General Edgar E. Stanton III, United bankrupt. Competition has served this country States Army, and his advancement to the This chart says it all, Mr. Speaker. well, Mr. Speaker. Individual responsi- grade of lieutenant general on the retired list; to the Committee on Armed Services. There is a path to prosperity for Amer- bility has served this country well. En- 5315. A letter from the Acting Under Sec- ica that we are proposing here in this trepreneurship and innovation have retary of Defense, Department of Defense, House, and there is the President’s ap- served this country well. And we have transmitting a letter on the approved retire- proach, and they could not be more dif- a choice now to embrace those func- ment of Lieutenant General Jeffery A. Rem- ferent. tions that are so indicative of who we ington, United States Air Force, and his ad- Our approach tells the American peo- are as Americans and where we’ve vancement on the retired list to the grade of ple the truth. There are a lot of polit- come from, and use those tools to set lieutenant general; to the Committee on ical pundits out there that believe tell- Armed Services. Medicare on a new and sustainable 5316. A letter from the Chief Counsel, De- ing people the truth is a risky thing to course; or we can go back to business partment of Homeland Security, transmit- do in an election year. Mr. Speaker, I as usual, more pages of Federal regula- ting the Department’s final rule — Final tell you it’s our solemn obligation. I tion, more blaming other people for the Flood Elevation Determinations [Docket ID: tell you the oath we took requires us problems we’ve created, more FEMA-2011-0002] received February 12, 2012, to tell folks the truth. I tell you the re- unelected boards of bureaucrats who pursuant to 5 U.S.C. 801(a)(1)(A); to the Com- sponsibility that our voters back home make health care decisions for us in- mittee on Financial Services. have entrusted us with requires us to 5317. A letter from the Chief Counsel, De- stead of letting us make those deci- partment of Homeland Security, transmit- be bold. sions within our family. And if the consequence for trying to ting the Department’s final rule — Final The choice for me is clear. Mr. Flood Elevation Determinations [Docket ID: save the Medicare program—not just Speaker, you know these aren’t things FEMA-2011-0002] received February 12, 2012, for this generation of seniors, but for a that we’re just down here to talk pursuant to 5 U.S.C. 801(a)(1)(A); to the Com- generation to come—if the consequence about. You know these aren’t just mittee on Financial Services. of that is that I frighten voters back ideas that are being brainstormed. We 5318. A letter from the Chief Counsel, De- home and I get defeated, so be it. So be partment of Homeland Security, transmit- have a real opportunity to make this ting the Department’s final rule — Suspen- it. No one sent us here to get reelected change not 2 years from now, not after year after year. They sent us here to do sion of Community Eligibility [Docket ID: the next election, not 6 months from FEMA-2012-0003] [Internal Agency Docket the work that they asked us to do. now, but tomorrow. Tomorrow we’ll No.: FEMA-B-8217] received February 12, They sent us here to follow through on bring a rule to the floor of this House 2012, pursuant to 5 U.S.C. 801(a)(1)(A); to the the promises that we made during the to allow for a consideration of a meas- Committee on Financial Services. last campaign. They sent us here to ure that will repeal IPAB once and for 5319. A letter from the Chief Counsel, De- offer serious solutions to what we all partment of Homeland Security, transmit- all. IPAB, this word that was not in ting the Department’s final rule — Final know, Democrats and Republicans our lexicon 2 years ago but now threat- alike, are serious problems threatening Flood Elevation Determinations [Docket ID: ens to control the health care decisions FEMA-2011-0002] received February 12, 2012, the future of our Republic. And none is of every senior in America. pursuant to 5 U.S.C. 801(a)(1)(A); to the Com- more serious when it comes to a social With a successful vote tomorrow, Mr. mittee on Financial Services. safety net here in this country than Speaker, we can make that a thing of 5320. A letter from the Assistant Secretary, the giant fiscal crisis looming in Medi- the past. Office of Electricity Diversity and Energy care. Reliability, Department of Energy, transmit- And with that, I yield back the bal- ting a report entitled ‘‘2010 Smart Grid Sys- I’ll leave you with this, Mr. Speaker. ance of my time. We have the law of the land that’s al- tem Report’’; to the Committee on Energy ready on the books. It’s in the Presi- and Commerce. f 5321. A letter from the Secretary, Depart- dent’s Patient Protection and Afford- ment of Health and Human Services, trans- able Care Act, that bill that raids LEAVE OF ABSENCE mitting Annual Report to Congress on FDA Medicare in order to fund his other so- Foreign Offices Provisions of the FDA Food cial priorities, that bill that hastens By unanimous consent, leave of ab- Safety and Modernization Act, pursuant to the demise of Medicare rather than sence was granted to: Public Law 111-353, section 201(b); to the preventing it. And in that they find 15 Mr. BACHUS (at the request of Mr. Committee on Energy and Commerce. 5322. A letter from the Chief of Staff, Media unelected bureaucrats that they say CANTOR) for today on account of minor Bureau, Federal Communications Commis- will not ration services; they’ll just cut throat surgery. sion, transmitting the Department’s final reimbursements for docs. And we have Mr. MARINO (at the request of Mr. rule — Implementation of the Commercial testimony after testimony after testi- CANTOR) for today and the balance of Advertisement Loudness Mitigation (CALM) mony after testimony that says, go the week on account of illness. Act [MB Docket No.: 11-93] received March 1,

VerDate Mar 15 2010 03:54 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00033 Fmt 4634 Sfmt 0634 E:\CR\FM\K20MR7.073 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE H1426 CONGRESSIONAL RECORD — HOUSE March 20, 2012 2012, pursuant to 5 U.S.C. 801(a)(1)(A); to the Act of 1998; to the Committee on Oversight Mr. NUGENT: Committee on Rules. H. Res. Committee on Energy and Commerce. and Government Reform. 591. A resolution providing for consideration 5323. A letter from the Deputy General 5334. A letter from the Inspector General, of the bill (H.R. 5) to improve patient access Counsel, Federal Energy Regulatory Com- Railroad Retirement Board, transmitting fis- to health care services and provide improved mission, transmitting the Commission’s cal year 2013 Congressional Justification of medical care by reducing the excessive bur- final rule — Interpretation of Protection Budget for the Office of the Inspector Gen- den the liability system places on the health System Reliability Standard [Docket No.: eral; to the Committee on Oversight and care delivery system (Rept. 112–416). Referred RM10-5-000; Order No. 758] received February Government Reform. to the House Calendar. 12, 2012, pursuant to 5 U.S.C. 801(a)(1)(A); to 5335. A letter from the Acting Deputy As- Mr. BACHUS: Committee on Financial the Committee on Energy and Commerce. sistant Administrator for Regulatory Pro- Services. H.R. 4014. A bill to amend the Fed- 5324. A letter from the Director, Office of grams, NMFS, Department of Commerce, eral Deposit Insurance Act with respect to Congressional Affairs, Federal Energy Regu- transmitting the Department’s final rule — information provided to the Bureau of Con- latory Commission, transmitting the Com- Marine Mammals; Subsistence Taking of sumer Financial Protection (Rept. 112–417). mission’s final rule — International Nuclear Northern Fur Seals; Harvest Estimates Referred to the Committee of the Whole and Radiological Event Scale (INES) Partici- [Docket No.: 110781394-2048-02] (RIN: 0648- House on the state of the Union. BB09) received February 12, 2012, pursuant to pation MD 5.12 received February 12, 2012, f pursuant to 5 U.S.C. 801(a)(1)(A); to the Com- 5 U.S.C. 801(a)(1)(A); to the Committee on mittee on Energy and Commerce. Natural Resources. PUBLIC BILLS AND RESOLUTIONS 5325. A letter from the Program Manager, 5336. A letter from the Chief, Branch of Listing, Department of the Interior, trans- Under clause 2 of rule XII, public Internal Revenue Service, transmitting the bills and resolutions of the following Service’s final rule — Summary of Benefits mitting the Department’s final rule — En- and Coverage and Uniform Glossary — Tem- dangered and Threatened Wildlife and titles were introduced and severally re- plates, Instructions, and Related Materials; Plants; Endangered Status and Designations ferred, as follows: and Guidance for Compliance [CMS-9982-FN] of Critical Habitat for Spikedace and Loach By Mr. CAMPBELL (for himself and received February 14, 2012, pursuant to 5 Minnow [Docket No.: FWS-R2-ES-2010-0072] Mr. DEFAZIO): U.S.C. 801(a)(1)(A); to the Committee on En- (RIN: 1018-AX17) received February 17, 2012, H.R. 4214. A bill to amend the Toxic Sub- ergy and Commerce. pursuant to 5 U.S.C. 801(a)(1)(A); to the Com- stances Control Act to prohibit the use, pro- 5326. A letter from the Assistant Secretary mittee on Natural Resources. duction, sale, importation, or exportation of For Export Administration, Department of 5337. A letter from the Acting Assistant the poison sodium fluoroacetate (known as Commerce, transmitting the Department’s Administrator for Fisheries, National Oce- ‘‘Compound 1080’’) and to prohibit the use of final rule — Amendment to Existing Vali- anic and Atmospheric Administration, trans- sodium cyanide for predator control; to the mitting the 2012 biennial report on the ‘‘Deep dated End-User Authorizations for Applied Committee on Energy and Commerce, and in Sea Coral Research and Technology Pro- Materials (China), Inc., Boeing Tianjin Com- addition to the Committee on the Judiciary, gram’’; to the Committee on Natural Re- posites Co. Ltd., CSMC Technologies Cor- for a period to be subsequently determined sources. poration, Lam Research Corporation, and 5338. A letter from the Acting Director, Of- by the Speaker, in each case for consider- Semiconductor Manufacturing International fice of Sustainable Fisheries, NMFS, Na- ation of such provisions as fall within the ju- Corporation in the People’s Republic of tional Oceanic and Atmospheric Administra- risdiction of the committee concerned. China, and for GE India Industrial Pvt. Ltd. tion, transmitting the Administration’s final By Mrs. MCMORRIS RODGERS: H.R. 4215. A bill to amend title XVIII of the In India [Docket No.: 110525297-1476-01] (RIN: rule — Fisheries of the Caribbean, Gulf of Social Security Act to provide for pharmacy 0694-AF26) received February 13, 2012, pursu- Mexico, and South Atlantic; Coastal Migra- ant to 5 U.S.C. 801(a)(1)(A); to the Committee tory Pelagic Resources of the Gulf of Mexico benefits manager standards under the Medi- on Foreign Affairs. and South Atlantic; Trip Limit Increase care prescription drug program to further 5327. A letter from the Assistant Secretary [Docket No.: 001005281-0369-02] (RIN: 0648- fair audits of and payments to pharmacies; for Export Administration, Department of XA974) received February 12, 2012, pursuant to the Committee on Energy and Commerce, Commerce, transmitting the Department’s to 5 U.S.C. 801(a)(1)(A); to the Committee on and in addition to the Committee on Ways final rule — Updated Statements of Legal Natural Resources. and Means, for a period to be subsequently Authority To Reflect Continuation of Emer- 5339. A letter from the Secretary, Depart- determined by the Speaker, in each case for gency Declared in Executive Orders 12947 and ment of Health and Human Services, trans- consideration of such provisions as fall with- 13224 [Docket No.: 120124063-0261-01] (RIN: mitting the Department’s determination on in the jurisdiction of the committee con- 0694-AF55) received February 12, 2012, pursu- a petition on behalf of workers from the Sa- cerned. ant to 5 U.S.C. 801(a)(1)(A); to the Committee vannah River Site in Aiken, South Carolina, By Mr. POE of Texas (for himself and on Foreign Affairs. to be added to the Special Exposure Cohort Mr. CHABOT): 5328. A letter from the Assistant Secretary, (SEC), pursuant to the Energy Employees H.R. 4216. A bill to provide for the ex- Legislative Affairs, Department of State, Occupational Illness Compensation Program change of information related to trade en- transmitting the Department’s report on Act of 2000 (EEOICPA); to the Committee on forcement; to the Committee on the Judici- progress toward a negotiated solution of the the Judiciary. ary. Cyprus question covering the period October 5340. A letter from the Assistant Secretary By Mr. GRIMM (for himself and Mr. 1, 2011 through November 30, 2011; to the for Employment and Training, Department KING of New York): Committee on Foreign Affairs. of Labor, transmitting the Department’s H.R. 4217. A bill to support and promote 5329. A letter from the Assistant Director ‘‘Major’’ final rule — Temporary Non-Agri- community financial institutions in the mu- for Policy, Department of the Treasury, cultural Empoyment of H-2B Aliens in the tual form, and for other purposes; to the transmitting the Department’s final rule — United States (RIN: 1205-AB58) received Feb- Committee on Financial Services. ´ Iranian Financial Sanctions Regulations re- ruary 17, 2012, pursuant to 5 U.S.C. By Ms. VELAZQUEZ: ceived February 13, 2012, pursuant to 5 U.S.C. 801(a)(1)(A); to the Committee on the Judici- H.R. 4218. A bill to preserve affordable 801(a)(1)(A); to the Committee on Foreign Af- ary. housing opportunities for low-income fami- fairs. 5341. A letter from the Chairman and Chief lies, and for other purposes; to the Com- 5330. A letter from the Assistant Secretary Executive Officer, Farm Credit Administra- mittee on Financial Services. ´ for Administration and Management, De- tion, transmitting a report on the proposed By Ms. VELAZQUEZ: partment of Labor, transmitting a report fiscal year 2013 budget; jointly to the Com- H.R. 4219. A bill to amend section 1451 of pursuant to the Federal Vacancies Reform mittees on Agriculture and Oversight and the Dodd-Frank Wall Street Reform and Act of 1998; to the Committee on Oversight Government Reform. Consumer Protection Act to establish pro- and Government Reform. 5342. A letter from the Board Members, grams to provide counseling to homebuyers 5331. A letter from the Assistant Secretary Railroad Retirement Board, transmitting regarding voluntary home inspections and to for Administration and Management, De- Congressional Justification of Budget Esti- train counselors to provide such counseling, partment of Labor, transmitting a report mates for Fiscal Year 2013, including the and for other purposes; to the Committee on pursuant to the Federal Vacancies Reform Performance Plan, pursuant to 45 U.S.C. Financial Services. Act of 1998; to the Committee on Oversight 231f(f); jointly to the Committees on Appro- By Ms. VELA´ ZQUEZ: and Government Reform. priations, Transportation and Infrastruc- H.R. 4220. A bill to establish a pilot pro- 5332. A letter from the Assistant Secretary ture, and Ways and Means. gram to train public housing residents as for Administration and Management, De- home health aides and in home-based health f partment of Labor, transmitting a report services to enable such residents to provide pursuant to the Federal Vacancies Reform REPORTS OF COMMITTEES ON covered home-based health services to resi- Act of 1998; to the Committee on Oversight PUBLIC BILLS AND RESOLUTIONS dents of public housing and residents of fed- and Government Reform. erally-assisted rental housing, who are elder- 5333. A letter from the Assistant Secretary Under clause 2 of rule XIII, reports of ly and disabled, and for other purposes; to for Administration and Management, De- committees were delivered to the Clerk the Committee on Financial Services. partment of Labor, transmitting a report for printing and reference to the proper By Mr. SMITH of New Jersey (for him- pursuant to the Federal Vacancies Reform calendar, as follows: self and Mr. RUSH):

VerDate Mar 15 2010 03:54 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00034 Fmt 4634 Sfmt 0634 E:\CR\FM\L20MR7.000 H20MRPT1 tjames on DSK6SPTVN1PROD with HOUSE March 20, 2012 CONGRESSIONAL RECORD — HOUSE H1427 H.R. 4221. A bill to create jobs in the By Mr. SMITH of New Jersey (for him- Clause 8 of section 8 of Article I of the Con- United States by increasing United States self and Mr. ROYCE): stitution exports to Africa by at least 200 percent in H. Con. Res. 109. Concurrent resolution ex- By Mr. GRIMM: real dollar value within 10 years, and for pressing the sense of Congress that the Peo- H.R. 4217. other purposes; to the Committee on Foreign ple’s Republic of China should not repatriate Congress has the power to enact this legis- Affairs, and in addition to the Committees the North Korean refugees detained in China, lation pursuant to the following: on Financial Services, Ways and Means, and subjecting them to torture, imprisonment, Article I, Section 8, Clause 3 Small Business, for a period to be subse- and execution, but allow their resettlement By Ms. VELA´ ZQUEZ: quently determined by the Speaker, in each in the Republic of Korea and other countries; H.R. 4218. case for consideration of such provisions as to the Committee on Foreign Affairs. Congress has the power to enact this legis- fall within the jurisdiction of the committee By Ms. LEE of California (for herself, lation pursuant to the following: concerned. Ms. CLARKE of New York, Mr. NAD- Article I, Section 8, Clause 1 By Mr. GRIJALVA: LER, Mr. GUTIERREZ, Mr. DAVIS of Il- The Congress shall have Power to . . . pro- H.R. 4222. A bill to provide for the convey- linois, Mr. GRIJALVA, Ms. MOORE, Mr. vide for the . . . general Welfare of the ance of certain land inholdings owned by the TOWNS, Mr. RANGEL, Ms. SPEIER, Mr. United States; . . . United States to the Tucson Unified School LEWIS of Georgia, Mr. HINOJOSA, Ms. Article I, Section 8, Clause 3 District and to the Pascua Yaqui Tribe of LINDA T. SA´ NCHEZ of California, Mr. The Congress shall have Power . . . To reg- Arizona, and for other purposes; to the Com- FRANK of Massachusetts, Ms. NOR- ulate Commerce with foreign Nations, and mittee on Natural Resources. TON, Mr. STARK, Ms. MCCOLLUM, Mr. among the several States, and with the In- By Mr. SENSENBRENNER (for him- CONYERS, Mr. ELLISON, Mr. FILNER, dian Tribes. self, Ms. LINDA T. SA´ NCHEZ of Cali- ´ Mr. MCGOVERN, Ms. JACKSON LEE of By Ms. VELAZQUEZ: fornia, Mr. COBLE, Mr. GALLEGLY, Mr. Texas, Mr. RAHALL, and Mrs. DAVIS of H.R. 4219. PIERLUISI, and Mr. MEEHAN): California): Congress has the power to enact this legis- H.R. 4223. A bill to amend title 18, United lation pursuant to the following: States Code, to prohibit theft of medical H. Res. 589. A resolution supporting the goals and ideals of Professional Social Work Article I, Section 8, Clause 1 products, and for other purposes; to the Com- The Congress shall have Power to . . . pro- mittee on the Judiciary. Month and World Social Work Day; to the Committee on Education and the Workforce. vide for the . . . general Welfare of the By Mr. BROUN of Georgia: United States; . . . H.R. 4224. A bill to repeal the Patient Pro- By Mr. LARSON of Connecticut: H. Res. 590. A resolution electing Members Article I, Section 8, Clause 3 tection and Affordable Care Act and the The Congress shall have Power . . . To reg- Health Care and Education Reconciliation to certain standing committees of the House ulate Commerce with foreign Nations, and Act of 2010, to amend the Internal Revenue of Representatives; considered and agreed to. among the several States, and with the In- Code of 1986 to repeal the percentage floor on considered and agreed to. dian Tribes. medical expense deductions, expand the use By Ms. HAHN (for herself, Mr. BISHOP By Ms. VELA´ ZQUEZ: of tax-preferred health care accounts, and es- of New York, Mr. TOWNS, Mr. MCIN- H.R. 4220. tablish a charity care credit, to amend the TYRE, Mrs. NAPOLITANO, Mr. Congress has the power to enact this legis- Social Security Act to create a Medicare FARENTHOLD, Mr. MCDERMOTT, Mr. lation pursuant to the following: Premium Assistance Program and reform RANGEL, Ms. BORDALLO, Ms. LEE of Article I, Section 8, Clause 1 EMTALA requirements, and to amend the California, Mr. SABLAN, Ms. MOORE, The Congress shall have Power to . . . pro- Public Health Service Act to provide for co- Ms. LINDA T. SA´ NCHEZ of California, vide for the . . . general Welfare of the operative governing of individual and group Mr. LARSEN of Washington, Mr. BOU- United States; . . . health insurance coverage offered in inter- STANY, Mr. CARNEY, Mr. STARK, Ms. Article I, Section 8, Clause 3 state commerce; to the Committee on En- WILSON of Florida, Mr. SCOTT of Vir- The Congress shall have Power . . . To reg- ergy and Commerce, and in addition to the ginia, Mr. SIRES, Mr. SCALISE, Ms. ulate Commerce with foreign Nations, and Committees on Ways and Means, Education HIRONO, Mr. CASSIDY, Mr. SMITH of among the several States, and with the In- and the Workforce, the Judiciary, Natural Washington, Mr. YOUNG of Alaska, dian Tribes. Resources, Rules, Appropriations, and House Mr. DEFAZIO, Mr. MCNERNEY, Mr. By Mr. SMITH of New Jersey: Administration, for a period to be subse- NADLER, Mrs. CHRISTENSEN, Ms. LO- H.R. 4221. quently determined by the Speaker, in each RETTA SANCHEZ of California, Mr. Congress has the power to enact this legis- case for consideration of such provisions as CARNAHAN, Mr. AL GREEN of Texas, lation pursuant to the following: fall within the jurisdiction of the committee Mr. COURTNEY, Mr. ROTHMAN of New Article 1, Section 8, Clause 3 concerned. Jersey, Mr. LYNCH, Mr. CLARKE of By Mr. GRIJALVA: By Mr. HOLT (for himself, Mr. BLU- , and Mr. FILNER): H.R. 4222. MENAUER, Mr. CARNAHAN, Mrs. H. Res. 592. A resolution recognizing the Congress has the power to enact this legis- CHRISTENSEN, Ms. DEGETTE, Mr. importance of ports to the economy and na- lation pursuant to the following: ELLISON, Mr. GRIJALVA, Mr. HONDA, tional security of the United States; to the Article I, Section 8 of the United States Mr. ISRAEL, Mr. JACKSON of Illinois, Committee on Transportation and Infra- Constitution. Mr. KUCINICH, Ms. MCCOLLUM, Mr. structure. By Mr. SENSENBRENNER: MEEKS, Mr. POLIS, Mr. RANGEL, Mr. f H.R. 4223. ROTHMAN of New Jersey, Ms. ROYBAL- Congress has the power to enact this legis- ALLARD, Ms. SCHAKOWSKY, and Ms. CONSTITUTIONAL AUTHORITY lation pursuant to the following: SLAUGHTER): STATEMENT H.R. 4225. A bill to amend the Federal In- The authority to enact this bill is derived secticide, Fungicide, and Rodenticide Act to Pursuant to clause 7 of rule XII of from, but may not be limited to, Article I, require local educational agencies and the Rules of the House of Representa- Section 8, Clause 3 of the United States Con- schools to implement integrated pest man- tives, the following statements are sub- stitution. agement programs to minimize the use of mitted regarding the specific powers By Mr. BROUN of Georgia: H.R. 4224. pesticides in schools and to provide parents, granted to Congress in the Constitu- guardians, and employees with notice of the Congress has the power to enact this legis- tion to enact the accompanying bill or lation pursuant to the following: use of pesticides in schools, and for other joint resolution. purposes; to the Committee on Agriculture. Article I, Section 8, Clause 1 [the Spending By Ms. MOORE: By Mr. CAMPBELL: Clause] of the United States Constitution H.R. 4226. A bill to amend the Internal Rev- H.R. 4214. states that ‘The Congress shall have Power enue Code of 1986 to make permanent the full Congress has the power to enact this legis- To lay and collect Taxes, Duties, Imposts exclusion applicable to qualified small busi- lation pursuant to the following: and Excises, to pay for Debts and provide for ness stock; to the Committee on Ways and Clause 3 of section 8 of article I of the Con- the common Defence and general Welfare of Means. stitution of the United States. the United States.’ This bill restores the By Mr. TIERNEY (for himself, Mr. By Mrs. MCMORRIS RODGERS: proper balance of power between the federal HINOJOSA, and Mr. GEORGE MILLER of H.R. 4215. and state governments as intended under the California): Congress has the power to enact this legis- 10th Amendment to the Constitution by de- H.R. 4227. A bill to reauthorize the Work- lation pursuant to the following: volving the responsibilities related to health force Investment Act of 1998 to strengthen The bill is enacted pursuant to the power care to the states and individuals. the United States workforce investment sys- granted to Congress under Article I, Section It reinforces the founding constitutional tem through innovation in, and alignment 8, clause 3 to regulate Commerce among the principle that state governments and indi- and improvement of, employment, training, several States. viduals are properly situated with attending and education programs, and to promote na- By Mr. POE of Texas: to their own health, safety, and general wel- tional economic growth, and for other pur- H.R. 4216. fare. poses; to the Committee on Education and Congress has the power to enact this legis- By Mr. HOLT: the Workforce. lation pursuant to the following: H.R. 4225.

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Congress has the power to enact this legis- H.R. 1700: Mr. BROOKS. H.R. 3633: Mr. CULBERSON. lation pursuant to the following: H.R. 1780: Mrs. CAPPS. H.R. 3661: Mr. MCDERMOTT. Article 1 of the U.S. Constitution. H.R. 1792: Mr. ISRAEL. H.R. 3670: Mr. JOHNSON of Ohio. By Ms. MOORE: H.R. 1842: Mrs. DAVIS of California, Ms. H.R. 3687: Mr. FRANK of Massachusetts. H.R. 4226. BONAMICI, and Ms. DELAURO. H.R. 3692: Mr. BLUMENAUER. Congress has the power to enact this legis- H.R. 1860: Mr. THOMPSON of Mississippi. H.R. 3728: Mr. HUIZENGA of Michigan and lation pursuant to the following: H.R. 1876: Mr. CLEAVER. Mr. SHIMKUS. Article I, Section 8, Clause 1: The Congress H.R. 1909: Mr. THOMPSON of Mississippi and H.R. 3767: Mr. SCOTT of South Carolina and shall have Power To lay and collect Taxes, Mr. SENSENBRENNER. Ms. SLAUGHTER. Duties, Imposts and Excises, to pay the H.R. 1955: Mr. DEGETTE, Mr. GUTIERREZ, H.R. 3770: Mr. FLORES. Debts and provide for the common Defence and Mr. SIRES. H.R. 3858: Ms. PINGREE of Maine. and general Welfare of the United States; but H.R. 2003: Ms. BONAMICI. H.R. 3875: Mr. CONYERS and Mr. RANGEL. all Duties, Imposts and Excises shall be uni- H.R. 2051: Mr. ROE of Tennessee, Mr. KLINE, H.R. 3895: Mr. KISSELL, Mr. TURNER of New form throughout the United States. Mr. MULVANEY, Mr. PETERS, Mr. PAULSEN, York, Mr. MCGOVERN, and Mr. SMITH of New By Mr. TIERNEY: and Mr. SCOTT of South Carolina. Jersey. H.R. 4227. H.R. 2086: Mr. BACA, Mr. GEORGE MILLER of H.R. 3981: Mr. LOEBSACK, Mr. KISSELL, Mr. Congress has the power to enact this legis- California, and Ms. MOORE. FRANKS of Arizona, and Mr. BROUN of Geor- lation pursuant to the following: H.R. 2119: Mr. FITZPATRICK. gia. The constitutional authority of Congress H.R. 2288: Mr. RANGEL. UAYLE OWDY to enact this legislation is provided by Arti- H.R. 2406: Mr. DENHAM. H.R. 3991: Mr. Q and Mr. G . cle I, section 8 of the United States Constitu- H.R. 2479: Mr. MCGOVERN, Mr. RANGEL, and H.R. 3993: Mr. BACA. tion Ms. BONAMICI. H.R. 4010: Mr. TIERNEY. H.R. 4030: Mr. LOEBSACK. f H.R. 2517: Mrs. DAVIS of California. H.R. 2541: Mr. BONNER and Mr. TIPTON. H.R. 4045: Mr. JONES, Mr. RYAN of Ohio, Mr. ADDITIONAL SPONSORS H.R. 2547: Mr. TIERNEY. TURNER of Ohio, and Mr. LOEBSACK. Under clause 7 of rule XII, sponsors H.R. 2569: Ms. ZOE LOFGREN of California. H.R. 4046: Mr. LANKFORD. were added to public bills and resolu- H.R. 2595: Mr. STARK. H.R. 4049: Mr. RANGEL. H.R. 2695: Mr. STIVERS. H.R. 4060: Mr. LAMBORN. tions as follows: H.R. 2827: Mr. ROSS of Arkansas. H.R. 4077: Mr. WALBERG. H.R. 111: Mr. CLAY. H.R. 2926: Mr. LAMBORN. H.R. 4083: Ms. ROYBAL-ALLARD. H.R. 374: Mr. GARDNER and Mr. OLSON. H.R. 2959: Ms. JENKINS. H.R. 4125: Mr. JOHNSON of Ohio. H.R. 376: Mr. WALZ of Minnesota. H.R. 3000: Mr. CULBERSON. H.R. 4128: Mr. MANZULLO and Mr. H.R. 469: Mr. TIERNEY. H.R. 3048: Mr. JONES. CRAVAACK. H.R. 607: Mr. RUNYAN. H.R. 3057: Mr. GUTIERREZ and Mr. FILNER. H.R. 4134: Mr. KIND. H.R. 632: Mr. HENSARLING. H.R. 3061: Mr. WEST and Mrs. ADAMS. H.R. 4136: Mr. LANDRY and Mr. LONG. H.R. 735: Mr. FRELINGHUYSEN. H.R. 3125: Mr. BERMAN and Mr. HONDA. H.R. 749: Mr. PAULSEN and Mr. SMITH of Ne- H.R. 4171: Mr. PAUL. H.R. 3145: Ms. MOORE, Mr. BOSWELL, and braska. H.R. 4174: Mr. MCHENRY. Mr. CONYERS. H.R. 780: Mr. LOEBSACK and Mr. MARKEY. H.R. 4176: Mr. WHITFIELD and Mr. PETERS. H.R. 3164: Mr. JOHNSON of Georgia and Mr. H.R. 834: Ms. BONAMICI. H.R. 4185: Mr. KEATING. POSEY. H.R. 854: Ms. WASSERMAN SCHULTZ and Ms. H.R. 4196: Mr. PRICE of Georgia, Mr. CROW- H.R. 3187: Mr. LOEBSACK, Mr. MORAN, Mr. CASTOR of Florida. LEY, Mr. BLUMENAUER, Mr. RANGEL, Mr. CRENSHAW, Mr. DOGGETT, Mr. CONAWAY, Mr. H.R. 941: Mr. KISSELL, Mrs. MCMORRIS ROD- LEWIS of Georgia, Mr. BRADY of Texas, Mr. PASTOR of Arizona, Mr. MCCOTTER, Mr. GERS, and Mr. MATHESON. LEVIN, and Mr. OLSON. STARK, Mr. DINGELL, Mr. FITZPATRICK, and H.R. 972: Mr. LONG. H.R. 4202: Mr. DOGGETT. Mr. REICHERT. H.R. 1080: Mrs. MCMORRIS RODGERS. H.R. 4203: Mr. PETERS, Mr. CRITZ, and Mr. H.R. 3202: Mr. BISHOP of New York. H.R. 1164: Mr. MURPHY of Pennsylvania and CICILLINE. H.R. 3264: Mr. GINGREY of Georgia. Mr. BERG. H.J. Res. 103: Mr. SMITH of Nebraska and H.R. 3364: Mr. BLUMENAUER, Mr. GUTIER- H.R. 1172: Mr. POLIS. Mr. LAMBORN. REZ, Mr. ROSS of Arkansas, Mr. MATHESON, H.R. 1244: Mr. LONG. H.J. Res. 104: Mr. GUINTA. Mr. WALDEN, and Mr. PALLONE. H.R. 1288: Mr. PAUL, Mrs. NAPOLITANO, Mr. H. Con. Res. 87: Mr. LATTA and Mr. TOWNS. H.R. 3418: Ms. BASS of California. LOEBSACK, and Mr. CARNEY. H. Res. 16: Mr. HULTGREN. ITZPATRICK H.R. 3423: Mr. SCHOCK, Ms. HAYWORTH, Mr. H.R. 1316: Mr. F . H. Res. 25: Mr. LOEBSACK. H.R. 1332: Ms. HAHN, Mr. HONDA, Mr. KUCI- KILDEE, Mr. SCHILLING, Mr. CARSON of Indi- H. Res. 111: Mr. SESSIONS, Mr. GRIJALVA, NICH, Mr. HINOJOSA, Mr. SIRES, and Mr. ana, Mr. HOLDEN, Ms. BUERKLE, Mr. PETERS, Mrs. MILLER of Michigan, Mr. MCHENRY, Mr. PETERS. Mrs. NOEM, and Ms. BONAMICI. WHITFIELD, and Mr. MCCOTTER. H.R. 1381: Mrs. LOWEY, Mr. HONDA, and H.R. 3425: Ms. HAHN. H. Res. 134: Mr. BUCHANAN. Mrs. MALONEY. H.R. 3461: Ms. ROS-LEHTINEN, Mr. H. Res. 282: Mr. ROYCE, Mrs. DAVIS of Cali- H.R. 1391: Mr. LIPINSKI and Mr. KISSELL. BUCHANAN, Mr. BERG, Mr. LUJA´ N, Mr. SMITH fornia, Mr. FILNER, Mr. ROTHMAN of New Jer- H.R. 1412: Mr. MARCHANT. of Nebraska, Ms. BERKLEY, Mrs. MILLER of sey, and Ms. SPEIER. H.R. 1445: Mr. MCCOTTER. Michigan, Mr. DIAZ-BALART, Mr. GOSAR, and H.R. 1451: Mr. LOEBSACK. Mr. CUELLAR. H. Res. 509: Mr. FLORES. H.R. 1488: Mr. COHEN. H.R. 3485: Mr. HIMES. H. Res. 526: Mr. KLINE. H.R. 1533: Mr. VISCLOSKY. H.R. 3491: Mr. LOEBSACK. H. Res. 560: Mr. POLIS. H.R. 1549: Mr. LUETKEMEYER. H.R. 3596: Mr. MCINTYRE and Ms. MCCOL- H. Res. 561: Mr. POSEY. H.R. 1575: Mr. TOWNS. LUM. H. Res. 564: Mr. MARKEY and Ms. CHU. H.R. 1639: Mr. MARINO. H.R. 3612: Ms. CLARKE of New York and Mr. H. Res. 583. Mr. MCDERMOTT, Ms. JACKSON H.R. 1675: Mr. RYAN of Ohio, Mr. MCHENRY, ISRAEL. LEE of Texas, Mr. PITTS, Mr. ENGEL, Mr. Mr. BILBRAY, Mr. JONES, and Mr. DAVID H.R. 3625: Ms. BASS of California and Mrs. CROWLEY, Mr. LANCE, Mr. STARK, Mr. DEFA- SCOTT of Georgia. MALONEY. ZIO, Mr. DEUTCH, and Mr. GARAMENDI.

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Vol. 158 WASHINGTON, TUESDAY, MARCH 20, 2012 No. 46 Senate The Senate met at 10 a.m. and was U.S. SENATE, scheduled for 11:30 today are going to called to order by the Honorable CHRIS- PRESIDENT PRO TEMPORE, have to be moved to this afternoon, be- TOPHER A. COONS, a Senator from the Washington, DC, March 20, 2012. cause we have a number of people who State of Delaware. To the Senate: can’t be here, through no fault of their Under the provisions of rule I, paragraph 3, of the Standing Rules of the Senate, I hereby own. So I ask unanimous consent that PRAYER appoint the Honorable CHRISTOPHER A. the cloture votes that are currently The Chaplain, Dr. Barry C. Black, of- COONS, a Senator from the State of Dela- scheduled to occur at 11:30 now begin fered the following prayer: ware, to perform the duties of the Chair. at 4 p.m. this afternoon; that if cloture Let us pray. DANIEL K. INOUYE, is invoked on an amendment or the Lord God Almighty, the Psalmist President pro tempore. bill, postcloture time be counted as if tells us, ‘‘You have been our dwelling Mr. COONS thereupon assumed the cloture were invoked at 12 noon today; place throughout all generations. Be- chair as Acting President pro tempore. and that the recess at 12:30 be until 2:15 fore the mountains were born or You f to accommodate the weekly caucus meetings. brought forth the Earth and the world, RECOGNITION OF THE MAJORITY The ACTING PRESIDENT pro tem- from everlasting to everlasting to ever- LEADER lasting, You are God!’’ pore. Without objection, it is so or- On this first day of spring, we ap- The ACTING PRESIDENT pro tem- dered. plaud Your creative genius and relish pore. The majority leader is recog- Mr. REID. The official photograph the beauty of this land. We are so nized. was expected to be today. We will try thankful for Your love and grace. f to do it later this afternoon. We will Lord, we depend on You to make SCHEDULE put everybody on notice about that, known to our Nation’s leaders Your and I will consult with the Republican Mr. REID. Mr. President, every plan to prosper us and to give us a fu- leader about the votes and about the morning I go out to do my exercise. ture and a hope. Move in Your mighty other matters we are going to have to This morning I started out the door power and restore in our Senators a reschedule. and there was a crash of thunder and faith in the wisdom of Your Word. In- f lightning, so I decided to do my exer- spire and equip them to seek Your wis- cise inside. When I got into the gym, I MEASURE PLACED ON THE dom and to pray for Your favor as we could watch TV and I could see these CALENDAR—S. 2204 align ourselves with Your perfect will. storms in another part of the country— Restore faith to the fearful, joy to Mr. REID. Mr. President, I ask unan- really violent storms. When I got back the broken-hearted, and comfort to the imous consent that there be a second to my house, my wife indicated that afflicted. We pray in Your great Name. reading of S. 2204. Senator SCHUMER called. They were Amen. The ACTING PRESIDENT pro tem- stuck on the tarmac in New York, so I pore. The clerk will read the bill by f knew at that time we were going to title for the second time. PLEDGE OF ALLEGIANCE have some problems here with sched- The legislative clerk read as follows: uling. The Honorable CHRISTOPHER A. COONS A bill (S. 2204), to eliminate unnecessary Following leader remarks this morn- led the Pledge of Allegiance as follows: tax subsidies and promote renewable energy ing, there will be a period of morning and energy conservation. I pledge allegiance to the Flag of the business for 1 hour, with Republicans United States of America and to the Repub- Mr. REID. Mr. President, I object to lic for which it stands, one nation under God, controlling the first half and the ma- any further proceedings on this bill at indivisible, with liberty and justice for all. jority controlling the final half. Fol- this time. lowing morning business, the Senate f The ACTING PRESIDENT pro tem- will begin consideration of H.R. 3606, pore. Objection is heard. The bill will APPOINTMENT OF ACTING the capital formation bill. The filing be placed on the calendar. PRESIDENT PRO TEMPORE deadline for all second-degree amend- f The PRESIDING OFFICER. The ments to the Reid substitute and the clerk will please read a communication Cantwell amendment is 11 o’clock EXPORT-IMPORT BANK to the Senate from the President pro today. Mr. REID. Mr. President, for many tempore (Mr. INOUYE). ORDER OF PROCEDURE years now the Ex-Im Bank, which is re- The legislative clerk read the fol- The reason I am mentioning the ferred to as the Export-Import Bank, lowing letter: storm situation is the votes we had has helped American companies grow

∑ This ‘‘bullet’’ symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor.

S1817

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VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00001 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.000 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1818 CONGRESSIONAL RECORD — SENATE March 20, 2012 and sell their products overseas. For Last year, the Ex-Im Bank supported HEALTH CARE REFORM those same years the Ex-Im Bank has 300,000 jobs across 49 States and 2,000 Mr. JOHANNS. Mr. President, we rise enjoyed broad bipartisan support. It cities in America. today to engage in a colloquy on an was a good idea when it started and it China already provides more invest- issue that is certainly front and center is still a good idea. ment capital to its exporters than the and has been for a long time in our When it was last authorized in 2006, United States, Canada, Germany, and great Nation, and that is the issue of the Ex-Im Bank passed the House by Great Britain combined, as Senator the health care bill. This bill is hurting voice vote and the Senate by unani- GRAHAM said during his call yesterday. working Americans and small busi- mous consent. The unanimous consent We had a conference call with people nesses, and they are the lifeblood of request was offered by a Republican concerned about this legislation. So we our economy. Senator. So when Senate Democrats cannot allow that gulf to widen. Let me, if I might, talk about a com- brought the reauthorization of the Ex- The U.S. Chamber of Commerce says: pany from Nebraska: Toba, Inc. Toba is Im Bank before the Senate last week, ‘‘Failure to reauthorize Ex-Im would located in Grand Island, NE. They are we hoped the legislation would proceed amount to America’s unilateral disar- a food distributor in central Nebraska. with bipartisan, bicameral support as mament in the face of other nations’ They employ about 200 to 300 people, it did in 2006. After all, the measure aggressive trade finance programs.’’ depending on the time of the year. It is will support about 300,000 jobs annually I don’t know if ERIC CANTOR has companies such as this that are the and help American exports continue to looked at this legislation. What is he heart and soul of the Nebraska econ- compete in the global economy. It talking about? Why does he want to omy. passed the Banking Committee here in fight about this? Can’t we do anything Tony Wald is the chief executive offi- the Senate unanimously. It had three with the Republican-dominated House cer of Toba. He shared with me not Republican cosponsors and is backed of Representatives, working together? long ago that their health care pre- by the National Association of Manu- The Chamber of Commerce said we do miums recently increased by 26 per- facturers, the Business Round Table, have a choice: We can compete or we cent. Tony’s insurance agency talked the U.S. Chamber of Commerce, and can cooperate. We can engage in yet to him. Of course, Tony wanted to various labor unions, including Ma- another unnecessary, unproductive know: What is going on here? What is chinists. It will actually reduce the battle—and CANTOR is picking a fight, wrong? Well, the insurance agent said deficit by $1 billion. but we are not going to. He has chal- to Tony there were several provisions The Ex-Im Bank is one of the pro- lenged us to a fight. We are not going in the health care law that were the posals we shouldn’t have to argue over. to fight because this is bipartisan legis- reason for the increase. This isn’t something that deserves a lation—or we can work together to Let me put this in perspective. That fight. We should reauthorize it and help American businesses grow and 26-percent increase is an extra $188,000 move on quickly. But I am sorry to hire. That is what we are going to do. increase that ultimately falls in the say, true to form, the Republican lead- The choice should not be difficult. We laps of the employees of Toba. Hun- ership—I am directing that to the do not want a fight. dreds of working Americans will see House Republican leadership—this The Senate will vote on this reason- their premiums go up as a result of this morning is once again spoiling for a able proposal today. Almost 300,000 health care law. fight where there shouldn’t be a fight. Americans had jobs last year—I re- Let me point out something that is Yesterday House Majority Leader CAN- peat—because of this important legis- very obvious. That is a broken promise. TOR called this bill that we are dealing lation. I hope those workers come first Then-Candidate Obama promised that with here to reauthorize the Ex-Im as Republican colleagues cast their Americans would see their premiums Bank a ‘‘partisan amendment.’’ votes today. decrease—decrease—by $2,500 by the This bill is cosponsored by the rank- end of his first term in office. Well, ing member of the Banking Com- f that has not been the reality. This mittee, RICHARD SHELBY. Senator RESERVATION OF LEADER TIME health care law drives up premiums SHELBY has been the chairman of that and Toba is a perfect example of that. committee; he is now the ranking Mr. REID. Mr. President, will the But I need not stop there. Let me member. It is tough to call anything Chair announce the business of the talk about Yellow Van Cleaning and Senator SHELBY puts his name on with day? Restoration Services in Kearney, NE, a Democrat as partisan. The ACTING PRESIDENT pro tem- just down the road a bit from Grand Is- CANTOR claimed this noncontrover- pore. Under the previous order, the land. This small business employs 48 sial, commonsense measure is derailing leadership time is reserved. people. The owner is a fine gentleman efforts to pass the IPO bill that will ex- f by the name of Dave Keiter. He be- pand innovators’ access to capital. It is lieves he has positioned his company simply not true. Leader CANTOR should MORNING BUSINESS correctly to grow it. In fact, some re- check with his Senate colleagues. The ACTING PRESIDENT pro tem- cent market research that was done Many of them understand American ex- pore. Under the previous order, the shows his company is poised for porters need access to Federal financ- Senate will be in a period of morning growth. They have done all of the right ing to stay on a level playing field with business for 1 hour, with Senators per- things to take this small business and global competitors. mitted to speak therein for up to 20 lay the right foundation so they can Yesterday the senior Senator from minutes each, with the time equally di- grow. South Carolina, LINDSEY GRAHAM, said vided and controlled between the two Dave was faced with a tough choice— without the Ex-Im Bank, ‘‘Our ability leaders or their designees, with the Re- a choice not caused by his competitors, to grow in South Carolina is non- publicans controlling the first half and a choice not caused by a bad economy. existent.’’ In 2011, South Carolina ex- the majority controlling the second He was faced with a tough choice porters sold more than $130 million half. caused by President Barack Obama and worth of goods abroad, thanks to Ex- The Senator from Nebraska. Democrats in the House and Senate Im Bank financing. who passed the health care bill. What South Carolina is not the only State f is his tough choice? He had to choose relying on the bank to keep business not to expand because he will run thriving. Nevada companies exported ORDER OF PROCEDURE smack-dab into the employer mandate $33 million of their products last year, Mr. JOHANNS. Mr. President, I ask if he grows his business. thanks to financing from the Export- unanimous consent to engage in a col- You see, this mandate requires that Import Bank. In 2011, in the Presiding loquy with my colleagues Senator employers with at least 50 full-time Officer’s State of Delaware, the Ex-Im PORTMAN and Senator COBURN. employees offer government-approved Bank made it possible for firms to sell The ACTING PRESIDENT pro tem- health insurance to their employees or more than $39 million worth of goods pore. Without objection, it is so or- pay a fine of $2,000 per employee. Dave overseas. dered. did the calculation on this—a small

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00002 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.004 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1819 business, with tight profit margins, ing costs in his home State? Is it They asked small businesses with fewer doing everything they can to make the straining job creators as we are seeing than 500 employees all around America: right decisions. Dave’s calculation in- in Nebraska? How does this impact you? Seventy- dicates he will be penalized more than Mr. PORTMAN. I say to my col- four percent of them say the recent $50,000 a year if he grows beyond his league from Nebraska, I am afraid the health care law makes it harder for current 48-member staff. answer is yes. It is increasing costs their business to hire more employees. There is no doubt about it. This law and, therefore, making us less competi- Fifty-two percent of them say eco- is stifling job creation. Not only does tive. When we increase the costs of nomic uncertainty is one of the top this law prevent jobs from being cre- doing business, of course, it impacts reasons they are not hiring. Thirty-six ated, it is forcing businesses to actu- the economy. The Senator has laid this percent say uncertainty about what ally eliminate jobs. out very well. I appreciate the Sen- Washington will do next is one of their An Iowa-based insurance company re- ator’s comments this morning. two top reasons they are not hiring. cently decided to exit the individual The Senator talked about the 800,000 Thirty percent say they are not hiring insurance market, abandoning sales di- jobs that are projected to be lost, and because of the requirements in the rectly to individuals and families. So that is probably a conservative figure, health care bill. what happens? Thirty-five thousand given the information I am getting This is not just anecdotal evidence policyholders lose that insurance from back home and what the Senator we are picking up in our States as we through that company. But it does not just talked about. The Senator talked go around and talk to employers. This stop there. Mr. President, 110 employ- about the fact that premiums are going is information that is out there for the ees will lose their jobs—70 in Nebraska. to increase dramatically—27 to 30 per- public to see. I hope all the activity A driving factor is the medical loss cent. that is surrounding this 2-year anniver- ratio provision in the law which micro- Since the Senator mentioned the Of- sary of the passage of this law from the manages how insurance companies fice of Management and Budget, I will Democratic side and from our side will spend their revenues. The CEO of the also say this is about our businesses rekindle this debate because, clearly, insurance company said job loss was ‘‘a and their ability to create jobs and get we did not get it right. We did not af- fairly predictable consequence of the this economy moving. It is about all of fect the fundamental problem, which is regulation.’’ us as families and consumers having the cost of health care rising to the These are not hypothetical situa- higher costs. It is also about our Fed- point that it is affecting us as con- tions. Before the law was passed, I eral budget deficit. We have an expert sumers and families. It is affecting our ability to get this economy moving. It came to the floor many times with my on that in Dr. COBURN, who will speak colleagues and pointed out the flaws in in a moment. But the point is, this is is affecting our budget deficit in such this ill-conceived legislation. Now we increasing costs to all of us in various dramatic ways. Doug Holtz-Eakin, who was the are telling real stories, real-life stories ways, and the budget deficit is already former head of the Congressional Budg- and talking about real people who have at record levels—a $15 trillion debt. et Office, testified last year. I thought Our country, obviously, is awash in red lost their jobs and are being impacted it was interesting what he said. As you ink, and one of the reasons, of course, by this ill-advised law. know, the health care reform law says, There is more. While I can directly is higher health care costs. So this is if someone is an employer with more point out that 70 Nebraskans lose their impacting us in a lot of different ways. than 50 employees, they have to offer Let me address the Senator’s ques- job, the Congressional Budget Office full-time employees coverage or pay a tion more directly, though, and that is says the new law will mean 800,000 $2,000 penalty per worker. He made an in terms of the impact on business. I fewer jobs over the next decade. interesting point. I see this around Similar to Yellow Van Cleaning in will tell the Senator, I have visited Ohio with these small businesses that Kearney, NE, other businesses are over 100 factories in Ohio in the last have maybe 30, 40 workers, and they holding off on hiring. In a recent Gal- few years, and in every one I asked this are hoping to be able to add more. He lup survey, 48 percent of small busi- question: What is going on with taxes said—and I think he is right—this cre- nesses are not hiring because of the po- and regulations and energy and health ates ‘‘a tremendous impediment to ex- tential cost of health insurance under care? I have not been to a business yet pansion.’’ His example was: Let’s say a the health care law. that has not told me their health care company does not offer health care Financial sector analysts at UBS cost increases over the past couple benefits and they have under 50 em- have stated that the law is ‘‘arguably years have added to the uncertainty, ployees and they want to add another the biggest impediment to hiring, par- the unpredictability, and, therefore, full-time employee. They take it up to ticularly hiring of less skilled work- the lack of investment into jobs and 51 employees—a $2,000-per-worker pen- ers.’’ Those are the people who need growth. alty, after subtracting the first 30 the jobs most. I went to a factory in Cleveland, OH, workers. The fine to hire an additional The Congressional Budget Office esti- one day, and this is a relatively small worker would be $42,000, for that one mates average premiums will increase business. It is actually seeing its sales worker to be added marginally to its by 27 to 30 percent under this law increase a little bit. The owner said: workforce. largely because the new health care Rob, I would like to hire people, but I So businesses have to offset that lost law’s coverage mandates will force pre- want to offer health care. Everybody revenue. The burden will be borne, as miums up. here has health care, which is great. Doug Holtz-Eakin said, by whom? The It is no wonder Toba in Grand Island, Those costs embedded in adding a new workers, with lower wages, fewer jobs, NE, is seeing its health care costs go employee are too high; they are prohib- fewer hours to be worked, less job up by a staggering $188,000 per year. itive. So what I am doing instead is I growth. The Medicare Actuary says this law am going to overtime, I am going to The Senator talked about the many will increase health care spending by part time to avoid hiring a full-time taxes in this legislation, and the over- $311 billion over the next 10 years. Two worker. all burden of the taxation on the econ- years have passed and things are only Luckily, I was there with some mem- omy is one of the problems with it, but getting worse. This law is suffocating bers of the media, and they were able there is also a very specific tax on med- job growth around the country. to hear this directly from this indi- ical device companies, and this is one Let me, if I might, now turn to my vidual who is making a decision about that I know affects both of the Sen- colleagues. I have a question, if I might whether to hire somebody in Ohio dur- ators’ States. It certainly affects Ohio. start with Senator PORTMAN. ing this weak recovery. The health We have a lot of very innovative med- Senator PORTMAN joins me on the care law and the health care cost in- ical device companies in Ohio, and they floor and I appreciate that. I know the creases are directly impacting that. So tell me they are going to have to cut Senator has a unique perspective be- it is for real. back on their workforce because of this cause he has served as the Director of The U.S. Chamber of Commerce did a new tax that is in the health care bill. the Office of Management and Budget. study recently, as the Senator knows. So think about this. At a time when Does the Senator see this law increas- This was just a couple months ago. we are all proposing we do more on

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00003 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.006 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1820 CONGRESSIONAL RECORD — SENATE March 20, 2012 science and technology and math and the quality and lower the costs of tive and also with access in terms of engineering, the STEM programs, we health care. That is what they spe- health care. We know our health care are trying to encourage more innova- cialize in—diagnostic services that the is good, but it is too expensive. As a tion in this country to be able to com- Senator, as a doctor, understands, Dr. matter of fact, it is more expensive pete globally, medical device busi- COBURN, can be incredibly helpful in than anywhere in the world. But we do nesses in Ohio and around our country getting health care costs down. know some things about that. We know have been able to be strong and we There are others. Stryker Corpora- one out of three dollars we spend in have been able to compete globally and tion just announced its intention to health care in this country does not we should be doing all we can to en- lay off 5 percent of its workforce in an- help anybody. It does not help them courage them and to help them. In- ticipation of the implementation of get well. It does not keep them from stead, we are doing the opposite. this tax at the beginning of next year. getting sick. There is a 2.3-percent medical device This is what is happening. There is a The problem with the Affordable excise tax in this legislation, and it is better way. There is a way to reduce Care Act is that it almost always going to hit next year. They are al- costs and increase competition in treats the symptoms rather than the ready planning for it. It is not a 2.3- health care to make it more patient underlying disease. Let me give some percent tax on profits. That is what centered. You all have been leaders in examples. I have practiced medicine. I you would expect, right? It is a tax on that. We have laid out alternatives. We have been a physician for almost 30 revenues. So we could have a young are not saying the health care system years. When I have a contract with a startup entrepreneur who says: I am was perfect before this legislation was private insurer, they are going to starting this company even though it drafted—not at all. Of course, it needs renew that contract in the next year on is a loss leader the first couple years. I to be improved and reformed and it can whether or not I am efficient and effec- am not making any money. But I know be. It can be done in a way that both tive in taking care of people who have I have a great idea, and I am going to improves quality and improves the insurance with them. There is no moti- continue to stretch this out to be able ability of people to have access by add- vation at all in the Medicare Act. to create something of great value for ing transparency and adding competi- The underlying problem with our $2.6 our health care, for the quality of tion and adding the value of quality trillion is that we all think somebody health care, to be able to save lives. and outcomes rather than just input else is paying for our health care. So I Yet I have no profit. So I probably will and volume to reduce costs in our sys- am a practicing physician. I have no not be taxed, right? Guess what. They tem. motivation not to spend Medicare dol- We have to do that. If we do not do are going to be taxed. They are going lars and avoid the axiom of listening to that, this law will continue to affect to be taxed on their revenue. the patient because maybe the short- Established companies that do have our economy negatively. One reason we term remuneration for my services is some profit—they are looking at big have the weakest recovery since the low, so I need to see more people. So we Great Depression is because of the im- taxes on their revenues, particularly if have addressed the symptoms of the pact of health care, and this law has they are doing well. There are a couple disease but not the real disease. made it worse, not better. companies in Ohio and around the The real disease is that we, on both I thank the Senator for letting me country that have already told us what the purchasing and providing side, are come by to talk about this issue. I look not responsible with the available dol- they are going to do. forward to the continuing dialog. Let me give you an example. Last Mr. JOHANNS. I thank Senator lars in our economy. When we always year, I visited Mound Laser and assume someone else is paying for it, PORTMAN. The Senator has made so Photonics Center outside Dayton, OH. many excellent points. we cannot get there. We do not have They provide services to the medical I believe if we look at the people who the right incentives. Consequently, device industry—fabrication. They do have spoken about this legislation, be- when we treat symptoms we actually very technical work. They have ma- fore and after its passage, one would be make it worse. chinists there who are specializing in hard-pressed to find anyone who speaks What are we seeing? What we are medical device manufacturing. They with greater authority than Dr. TOM going to see is the government jump provide machining services to the de- COBURN, who is a Member of the Sen- between the doctor and the patient to vice industry. ate. make the symptoms worse. We are The CEO is a friend of mine, Dr. I would ask Dr. COBURN to weigh in going to have an IPAB board, which is Larry Dosser. He told me when I was on this health care bill. He has talked not coming yet, but it is coming. We there—he said: Look, this could be dev- through the years so often about what are going to have an innovation astating to our business—this 2.3 per- this health care bill is doing to medi- board—not patients, not doctors—not cent excise tax—because these are our cine, the impact it is going to have on patients making these decisions but customers. Unfortunately, he has just patients, the impact on the economy, somebody in Washington making the told me he is going to have to start the impact on jobs. I would like the decisions. So the very capability of uti- laying off people. On January 1, 2012— Senator to talk to us today about what lizing that one axiom of medicine, hav- a couple months ago—they laid off peo- he is seeing as we are literally on the ing the freedom to listen to the patient ple for the first time in their history. time of the second anniversary and tell and then acting on what we heard rath- It is a 16-year-old company. It is an up- us how this is panning out. It has been er than acting on the basis of rules and and-coming company. They are adding the law now for a couple of years. What regulations coming out of an autono- people every year. Because of this med- is the reality of this legislation? mous nonpersonal body in Washington ical device tax, they are having to plan Mr. COBURN. I, thank the Senator. that is going to tell us what we are for higher taxes, therefore, a hit to The reality is we are committing mal- going to do. their revenues, and they are starting to practice. Let me describe what I mean Let me give a great example. In the lay off people already. by that. In medicine, when a patient Affordable Care Act is the money and There are other examples. Meridian comes in, listening is a very important the incentive to put everything online. Bioscience is in Cincinnati. I visited aspect. In fact, there is the axiom in Now, by itself that sounds smart. What there. I talked to the workers, I talked medicine that if you listen to your pa- do the first studies show on the basis of to the management, and they tell me tient, they will tell you what is wrong that? The first studies show that when flat out: This is going to cost us tens of with them, completely. The more time a doctor has online available diag- millions of dollars, and this is going to you spend, the more effective you are nostic tests versus the doctors who do result in us laying off workers. They at gaining it. The reason that is the not, they order 18 percent more tests are not sure if it is 40 workers or 80 axiom in medicine is because you do then the doctors who do not. workers, but it is an up-and-coming not want to treat symptoms of a dis- In other words, if something is easy company in our area that is doing the ease, you want to treat the real dis- to do, we do more of it, and so here is right things, creating jobs and oppor- ease. the first—this just came out 2 weeks tunity and creating devices that will, All of America recognizes that we ago—the first set, when people were in this case, by the way, also improve had some difficulties in being competi- looking at radiographic tests such as

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00004 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.007 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1821 CTs, MRIs, CAT scans, chest x-rays, Mr. COBURN. The IPAB stands for standard protocol was but followed my ultrasounds, they get the results. They the Independent Payment Advisory history and my knowledge of the pa- get the results faster. Without the pa- Board. They are a group of individuals tient and my feeling, I diagnosed her tient being there, without reading who will decide what we pay for and early. She got to see her kids get mar- them, they automatically order 18 per- what we do not pay for in terms of ried; she got to see a grandchild. That cent more tests. health care. They will also decide how never would have happened. Well, our problem in our country was much we pay. So what is coming with IPAB and the we were ordering too many tests. We Once those 15 people are in place, if Preventive Services Task Force is peo- have all of the incentives to order tests they are wrong, people will have no ple making decisions that are not in rather than listen to the patient, and ability to challenge it in court. They the room with the doctor and the pa- now we set up a system where we are have no ability to see their work prod- tient, and that is the biggest danger of going to order more tests. That is what uct and why they decided on what they the Affordable Care Act: that we are the first study shows. We are going to did. They have no ability to cut off going to take the ability of patients give hundreds of millions of dollars to their funding. In other words, they are and doctors to make choices and give doctors to have an IT system put in an autonomous nondemocratic func- that choice to a government bureau- their offices so we have an electronic tion whose whole goal will be to con- crat. medical record. Well, what are we see- trol costs. The ACTING PRESIDENT pro tem- ing from the first examples of that? Well, there are lots of ways to con- pore. The Senator’s time has expired. Other than in isolated cases where it is trol cost. I call it the ‘‘sovietization’’ Mr. JOHANNS. We yield the floor, a very refined product, such as Mayo of the American medical industry. and I suggest the absence of a quorum. Clinic or Cleveland Clinic or even at They are going to control costs. Well, The ACTING PRESIDENT pro tem- the VA, what do we find? People fill we know how that works. We have al- pore. The clerk will call the roll. out the paperwork, check the boxes, ready seen it. It is called NICE in Eng- The legislative clerk proceeded to but they do not check it in relationship land, and we are seeing a revolt. As a call the roll. to the patient. So when the next person matter of fact, in England today they Mrs. MURRAY. Mr. President, I ask looks at the electronic medical record, are talking about reforming their unanimous consent that the order for they do not look at all of the garbage health care system and going in the op- the quorum call be rescinded. that is there that does not mean any- posite direction of what we are doing The ACTING PRESIDENT pro tem- thing—but, oh, it might because there because what they know is the ration- pore. Without objection, it is so or- is too much information now in terms ing of care based on a value of 1 year of dered. of the computer screen. life per individual is the way they f So what is happening? We are doing make that decision. AFFORDABLE CARE ACT duplicate things that were not done be- So if Senator JOHANNS is 78 years old fore. So the impact of the health care and has a broken hip and bad diabetes Mrs. MURRAY. Mr. President, 2 bill—just in terms of taxes, does any- and bad heart disease, they look at the years ago health insurance companies body think health insurance premiums value of what his life expectancy is could deny women care due to so-called are not going to rise enough to offset with that and then the cost of fixing preexisting conditions, such as preg- whatever the increased cost is for the his hip. They say: You are not worth it. nancy or being a victim of domestic vi- medical loss ratio? They are going to So in England they do not fix your hip. olence. Two years ago women were per- make money. Businesses are going to Well, that is called rationing. mitted to be legally discriminated make money. So if we put a medical The fact is it is not bad by the word; against when it came to insurance pre- loss ratio at 15 percent, what is going it is a loss of liberty. It means people miums and were often paying more for to happen is they are going to live no longer have the ability to decide coverage than men. Two years ago within that, but the premiums are themselves what will happen to them, women did not have access to the full going to go up so they can do what and somebody autonomously, very dis- range of recommended preventive care, they need to do. tant from them, makes the decision for such as mammograms or contraception Blue Cross-Blue Shield Oklahoma them. and more. Two years ago the insurance knows my practice parameters. They IPAB is not the worst—the innova- companies had all the leverage, and too know what I am good at, what I am ef- tion council. What will not happen that often it was women who were paying ficient at, and what I am not. They are the innovation will not allow to hap- the price. not going to give up that knowledge of pen? I have a story of a patient—and I Mr. President, that is why I am proud whether or not I should be doing a test will just give an example. Not IPAB, to come to the floor today, 2 years by simply saying the Federal Govern- not innovation, but we are also going after we passed the Affordable Care ment put in a medical loss ratio. They to have the Preventive Services Task Act, to highlight just how far we have are going to raise premium prices, Force that is going to make rec- come when it comes to making sure which we are already seeing in Okla- ommendations on screening. women across America get the care homa. I want to give an example. This is a they need at a cost they can afford. Be- So when we continue to treat symp- true story. I will not use her name, but cause of this law, women will be treat- toms instead of the underlying disease, a young lady came to me with a breast ed fairly when it comes to health care we do not solve a problem; we actually lump. I did the standard protocol, best costs. Deductibles and other expenses make the problem worse. That is why practices on her. It showed to be a sim- will be capped so a health care crisis you get sued as a physician when you ple cyst, and the point I am making is doesn’t cause a family to lose their miss a diagnosis of a disease, and what about the art of medicine, not the home or their life savings. Preventive I will tell you is Americans are at ‘‘dis- science of medicine because everybody care will be free, so women never have ease’’ about health care in our country. gets hung up on the science, but no- to delay care because they can’t afford But we have committed malpractice in body ever talks about the art. to see a doctor. Because of this law our approach to it because we are I had an uncomfortable feeling about women will have more options. They treating the symptoms and not the un- this cyst. So I aspirated it. It was in- can use health care exchanges to pick derlying disease. flammatory carcinoma of the breast. In quality plans that work for them and Mr. JOHANNS. Let me express my other words, had I followed the proto- for their families. And if they change appreciation, but let me also follow up cols that are going to be recommended jobs or move, they will be able to keep with a question because I think it is by IPAB and the best practices, I would their coverage. Because of this law ma- important. The Senator mentioned have never aspirated it. ternity care is now covered and women IPAB. This was a little-discussed provi- Well, this patient is now dead. But won’t have to skip prenatal care be- sion, although the Senator kept point- she lived 12 years. A delay in diagnosis cause they can’t afford it. Because of ing it out. Talk about the powers of on inflammatory carcinoma would this law women are now in charge of this group and where you think it is have given her less than a year to live. their health care, not their insurance leading. Because I did not follow what the companies. That is why I feel very

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00005 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.008 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1822 CONGRESSIONAL RECORD — SENATE March 20, 2012 strongly that we cannot go back to the sell their products overseas can keep AFSCME; the National Education As- way things were. While we can never their jobs here at home. sociation; the American Institute of stop working to make improvements, At a time when our competitors in CPAs; the CFA Institute; and the Main we owe it to the women of America to the global marketplace provide far Street Alliance, just to name a few of make progress and not allow the clock more aggressive export credit financ- the broad spectrum of experts who feel to be rolled back on their health care ing to companies within their borders, this bill is, as they say, not ready for needs. the Ex-Im Bank simply levels the play- prime time. I know some of my Republican col- ing field for U.S. companies that sell In an op-ed in the Washington Post leagues are furiously working to undo goods overseas. And the Ex-Im Bank on March 14, two Harvard securities all of the gains we have made in the helps create U.S. jobs and does not add professors, John Coates and Robert health care reform law for women and to our deficit. Pozen, stated: for their families. I am disappointed U.S. exports have been a bright spot [T]his bill does more than trim regulatory but I am hardly surprised. Republicans in America’s road to recovery, increas- fat; parts of it cut into muscle. Small busi- have been waging war on women’s ing by about 20 percent over the last 2 nesses will have a harder time raising cap- health since the moment they came years and driving about half of all of ital if investors do not receive sufficient dis- closures or other legal protections. into power. After they campaigned our economic growth. Given the obvi- In his ‘‘Motley Fool’’ column on across the country on a platform of ous need for exports to power economic March 19, Ilan Moscovitz states that jobs and the economy, the first three growth, it would be negligent to pull there are four really problematic bills they introduced in the House were the plug on the Ex-Im Bank. If we do things about the JOBS Act. And, as we each direct attacks on women’s health not pass this bill by the end of this all recognize, ‘‘Motley Fool’’ is one of care in America. The very first bill month, thousands of jobs will be at the most perceptive in its columns they introduced, H.R. 1, would have to- risk, not just from our exporters but about the securities markets, ana- tally eliminated Title X funding for from businesses large and small across lyzing the securities markets from family planning and teenage pregnancy the country. many different perspectives. They prevention, and it included an amend- Reauthorizing the Export-Import point out some of the fairly significant ment that would have completely Bank would not only be a short-term faults in the House bill. In sum, they defunded Planned Parenthood and cut victory for our exporters, it would also say the legislation as currently written off support for the millions of women tell our trading partners that the in this country who count on it. An- would exempt 90 percent of current United States is a stable place to do IPOs from important corporate govern- other opening round of their bills business and that we stand behind our would have permanently codified the ance and accounting requirements be- products and our companies. So I urge cause it defines ‘‘small companies’’ as Hyde amendment and the DC abortion a ‘‘yes’’ vote on that amendment when ban, and the original version of their anything valued below $700 million and it comes to the floor later. earning less than $1 billion in annual bill didn’t even include an exception Mr. President, I yield the floor, and I for the health of the mother. Finally, revenues. suggest the absence of a quorum. Those aren’t exactly small compa- they introduced a bill right away that The ACTING PRESIDENT pro tem- nies, and those companies can in fact would have rolled back every single pore. The clerk will call the roll. and should in fact be following the pro- one of the gains I just talked about in The legislative clerk proceeded to cedures we have laid out in order for a the Affordable Care Act. call the roll. company to go public. This law is a winner for women, it is Mr. REED. Mr. President, I ask unan- Our amendment recognizes the need a winner for men and for children and imous consent that the order for the to provide more streamlined processes for our health care system overall. So quorum call be rescinded. for smaller IPOs, but we restrict these I am proud to stand here today with so The PRESIDING OFFICER (Mr. streamlined procedures to companies many of my colleagues who are com- MANCHIN). Without objection, it is so with less than $350 million in annual mitted to making sure the benefits of ordered. revenues, much closer to the notion of this law do not get taken away from f a small company beginning the process the women of America. We will keep JOBS ACT of becoming a publicly held entity. fighting attempts to take them away, There is also a problem in this legis- and I am confident we will win. Mr. REED. Mr. President, I rise again lation with accounting. When investors EXPORT-IMPORT BANK today to discuss H.R. 3606, the so-called lose faith in accounting standards, Mr. President, while I am on the JOBS Act. As chair of the Sub- they are less willing to buy stocks. In floor today, I also would like to rise to committee on Securities, Insurance, fact, one of the great strengths of our express my strong support for an and Investment, I want all of my col- security markets is the feeling that amendment that will be considered leagues to know that this legislation, your money is well protected. It is today which will grow American jobs, as it is currently drafted, is fundamen- scrutinized; there are accountants; help small businesses, generate revenue tally flawed. We need to stop, slow there are audits. If we lose that, then for taxpayers, and which has strong bi- down, carefully amend this legislation, the investing public worldwide will say partisan backing. and send something to the President the United States is not the place to It is no secret that foreign countries that will not only encourage capital put their money. Our amendment does are aggressively trying to seize the formation, but also protect investors. not interfere with independent ac- global market, and America needs to I am not alone in my analysis. Some counting standards, and limits the keep fighting back with a program that of the most sophisticated security ana- number of companies that get exempt- works for businesses and taxpayers and lysts, experts, and commentators in ed from accounting rules. does create thousands of jobs. The Ex- the country are telling the Senate to There is another big issue in the port-Import Bank is one of the most slow down and work to improve it. We House bill. It contains a provision that important resources America has to have received letters or testimony or would increase the number of investors keep up this fight. For over 75 years comments from SEC Chairman Mary who could own shares in private com- the Ex-Im Bank has supported job-cre- Schapiro; SEC Commissioner Luis panies, and excludes employees from ating U.S. exports by helping American Aguilar; the North American Securi- the count. That has some merit. But by businesses sell to the world. No one ties Administrators Association; counting shareholders of record instead knows this better than businesses in former SEC Chairman Arthur Levitt; of the beneficial shareholders—there is my home State of Washington—the former SEC Chief Accountant Lynn a legal owner on the books of the com- largest exporter in the Nation per cap- Turner; AARP; Americans for Finan- pany, but that legal owner may rep- ita—where one in three jobs in my cial Reform; the Consumer Federation resent thousands of actual owners. The State is tied to international trade. Re- of America; the Council of Institu- beneficial owners are the ones who get authorizing the Ex-Im Bank means tional Investors; the National Associa- the dividends, the ones who get the more than 150 Washington State busi- tion of Consumer Advocates; Public right to vote on the shares—if we pre- nesses that rely on this financing to Citizen; U.S. PIRG; the AFL–CIO; serve this loophole going forward, this

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00006 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.010 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1823 could potentially create a situation an exemption for certain registration need regulations. Just give them a lot where an unlimited number of inves- requirements for mini-offerings of $5 of leverage and let them run. And they tors could be involved in a company million or less. The House bill proposes ran—right off the cliff. We don’t want and that company would still be able to raise the ceiling for this exemption to repeat that again. We don’t want to to remain private and not have to pro- to $50 million, but they do so in a way repeat the mistakes of the 1990s and vide periodic reports under the Ex- that could open it up to abuse, allow- 2000s, where we allowed analysts of se- change Act. ing companies to avoid rules and re- curities to recommend securities sold Last year, for example, Goldman porting requirements for public compa- by their own investment banking firm. Sachs planned to create a special-pur- nies. We limit companies to raising no Those provisions are included in the pose vehicle, basically a fund that more than this $50 million amount House bill. That is going to undermine could pool money from its clients, that every 3 years, truly aiming our provi- the markets. would count as only one holder of sions at the small companies that are We should learn from the facts. I record in Facebook. You can see how trying to raise capital without trig- urge all of my colleagues to support this could clearly circumvent the no- gering all of the requirements of a pub- the Reed-Landrieu-Levin amendment tion of how necessary it is to provide licly held company. We also require as a base text. We can make improve- the reporting requirements for large that a basic set of audited financial ments on that. We can send a bill—we companies, companies with a large statements be filed with the offering hope very quickly in collaboration shareholder basis. Our bill eliminates statement and require periodic disclo- with the House—to the President that this loophole by clarifying that sures of material information to inves- not only stimulates capital formation recordholders must be beneficial own- tors. but also protects investors. We can ers, while at the same time raising the Let me stress what the House bill is send a bill that learns from the lessons shareholder cap from 500 to 750, to proposing. They are proposing to legal- of the last 20 years where, in the guise make it more contemporaneous. But ize the solicitation of $50 million a year of deregulation, in the hope for job cre- we exempt employees from this from retail investors—in fact, it could ation, we saw the greatest financial recordholder trigger for public reg- be $50 million every year—without re- crisis since the Great Depression. We istration, and that will allow private quiring audited financial statements be don’t want to see this happen again. companies that want to remain pri- provided to potential investors. If you Mr. President, I yield the floor. vate, but want to reward their employ- go to a bank to get a loan for your f ees with shares to stock, the ability to business, they are going to require au- ORDER OF PROCEDURE do so without triggering the public re- dited financials. I think, at a min- porting requirements. imum, you need to provide audited fi- The PRESIDING OFFICER. The Sen- Finally, the House bill sets up a new nancial statements if you are soliciting ator from South Carolina. mechanism for crowdfunding. This is a $50 million a year from the public and, Mr. GRAHAM. Would the President very interesting concept. My col- in fact, that $50 million could be for let me know when 10 minutes has passed? leagues Senator MERKLEY, Senator successive years. The PRESIDING OFFICER. The Re- BENNET, and Senator BROWN of Massa- Finally, this whole discussion about chusetts have worked very hard in de- the House bill has been cast in terms of publican time has expired. Mr. GRAHAM. I ask unanimous con- veloping a crowdfunding bill much su- jobs. There is not a lot in the House sent to be recognized for 10 minutes. perior to what is included in the House bill that talks about jobs, particularly Mr. PRESIDING OFFICER. The Sen- version. In fact, the House version has jobs in America. There is no require- ator from Iowa. been described by a noted securities ex- ment that any of these relaxations of Mr. HARKIN. Reserving the right to pert as ‘‘the boiler room legalization the securities laws be correlated with object, was there a consent entered act’’ for its very lax approach to crowd- job increases. There is no requirement into on speaking order earlier? funding. in the House bill that these jobs be in Mr. GRAHAM. They told me to come Our amendment requires crowdfund- the United States. at 11:10 is all I know. ing to be conducted through regulated We have just come through a series Mr. HARKIN. I was told to come at intermediaries, and provides for basic of enforcement actions in which the 11:00. I think it is fair to go back and disclosure requirements, aggregate SEC had to crack down on reverse forth. I ask unanimous consent that caps, and other protections to ensure mergers by Chinese companies that the Senator from Iowa be recognized to market integrity, and prevent abuse. were taking over American shell com- speak after the Senator from South The House bill also removes impor- panies, putting their money in, and Carolina. tant prohibitions against general solic- then going ahead and using the bene- The PRESIDING OFFICER. Without itation and advertising in regard to fits of access to our stock markets. objection, it is so ordered. The Senator private placements that have been on Most of those companies’ jobs were not from South Carolina is recognized for 5 the books for decades. Recognizing here, nor was the intention to create minutes. that in a world of Internet and Twitter, those jobs here. Those are the types of f even private communications with ac- risks we run in the House bill. credited investors about private offer- Our bill includes reauthorization of EXPORT-IMPORT BANK ings can be inadvertently broadly dis- the Export-Import Bank, which is Mr. GRAHAM. Mr. President, this is seminated, our bill takes a much more something that has already dem- a defining moment for the Senate in a targeted approach to this issue. In our onstrated its ability to support Amer- couple of ways. The Democratic Sen- amendment, we allow for limited pub- ican jobs. We have also included provi- ators have an alternative to the House- lic solicitation and advertising through sions that Senator SNOWE and Senator passed JOBS bill that will get a vote on ways and means approved by the SEC, LANDRIEU have included from the their alternative. That is good. I be- so they have a chance to update mech- Small Business Committee that will lieve the House-passed JOBS bill had anisms for communicating with inves- increase the SBA’s ability to assist overwhelming bipartisan support. It is tors in this age of Twitter, Internet, American companies—small American a good document. I will support that and other new media. We believe this businesses. They have done this suc- version over my Senate Democratic amendment gives the SEC the tools it cessfully. With these provisions, they colleagues. But let me tell you what needs to formulate limited exemptions can do more. Our bill actually does our Senate Democratic colleagues have to the general solicitation and adver- help with jobs—jobs here in the United done that I think is very constructive. tising rules, allowing private offerings States. Ex-Im Bank is trying to be made part to still remain private. One of the premises behind this of the JOBS bill in the Senate. This There is another section of the House House legislation is if we deregulate, Export-Import Bank, what does this bill that deals with the reg A exemp- the jobs will come right back. Where mean? This is a financing ability by tion. Reg A has been on the books of have we heard that before? All through American companies that are selling the Securities Exchange Commission, the 2000s: Just deregulate. Those in- overseas in volatile or emerging mar- again, for decades. It currently allows vestment banks such as Lehman don’t kets. It is a financing system that has

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00007 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.012 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1824 CONGRESSIONAL RECORD — SENATE March 20, 2012 been available since 1934. If you are plane in a volatile or emerging market not come at a better time, and include going to try to sell a product made in because China is now making airplanes in that debate Ex-Im reauthorization America to a place in the world where and Airbus has access to three or four at a time when America needs more traditional banking is hard to obtain, Ex-Im Banks. It would be an ill-con- jobs here at home. you can go to the Ex-Im Bank and they ceived idea. This program has been The economy here at home is weak. will give a letter of credit, they will around a long time. It has helped cre- The one good thing about what is hap- sometimes give a direct loan to people ate thousands of jobs in the United pening here at home is that our export who want to buy American products. States. Everybody we compete with sales have gone up. The way to create The bank itself made $3.5 billion for has a more aggressive form of Ex-Im fi- export jobs in America is to allow the taxpayer I think since 2005 and nancing than we do. American businesses to compete on a 2006. To my colleagues who want to elimi- level playing field throughout the Here is the reality: Every country we nate this, I don’t understand how world. I wish the world were different. compete with has their version of Ex- American business could ever success- I wish we had completely free markets. Im Bank. We financed $32 billion worth fully compete in these emerging mar- Every American business could do fine of American-made products sold over- kets if we unilaterally disarm. in that world, but that is not the way seas through our Ex-Im system last To my Democratic colleagues, thank it is. year. Canada, one-tenth our size, fi- you for bringing up Ex-Im Bank. To The Ex-Im Bank doesn’t cost the tax- nanced $100 billion. France has three our majority leader, Senator REID, this payers one dime. It makes money for Ex-Im Banks. China has more Ex-Im is a good idea. What is a bad idea is to the Treasury, and it allows American activity than the United States, not let anybody on the Republican side companies to make money. It allows France, and Germany combined. Every offer one amendment to this bill. Some American businesses to be competitive. country American manufacturing com- of the ideas to reform Ex-Im Bank I I am urging the two leaders of the petes with that produces products has would agree to. I think any organiza- Senate to allow a jobs bill to come for- their version of Ex-Im Bank. tion, any entity, can be made better. I ward, let us have our say, have our dif- At the end of May, our Ex-Im Bank’s want to be able to get back to being in ferences, let’s vote, let’s amend, and authorization runs out. Our loan limits a body called the United States Senate, let’s create jobs in America. run out a few weeks earlier. This would where people with different ideas on I yield the floor. be devastating. Small companies important topics can actually vote. f throughout this country depend on the To my colleagues on this side, I may Ex-Im Bank in order to sell American- vigorously oppose some of you who de- CONCLUSION OF MORNING made products overseas. cide the Export-Import Bank should go BUSINESS Let me give you one good example away because I think that would be the The PRESIDING OFFICER. Morning that has been the topic of conversa- worst thing you could do for the Amer- business is closed. tion. Boeing Aircraft makes airplanes ican economy, particularly export jobs f in America, the 787 Dreamliner. It was being created in this country, and it JUMPSTART OUR BUSINESS voted the best new airplane in a long would be unilaterally surrendering in STARTUPS ACT time here recently, something that the world marketplace. Whether you Boeing is proud of. They make it in like it or not, other countries are Ex- The PRESIDING OFFICER. Under Washington and now in South Caro- port-Import Bank on steroids. If we the previous order, the Senate will re- lina. The first airplane to be made in just get out of this business, companies sume consideration of H.R. 3606, which South Carolina will roll out in about a like Boeing will be unable to sell their the clerk will report. month from now. The facility is under airplanes, and you will shut down fa- The assistant legislative clerk read budget and ahead of schedule, and we cilities such as those in South Caro- as follows: are proud of that airplane. lina—not a very good idea. A bill (HR. 3606) to increase American job Eight out of the 10 airplanes being At the end of the day, you do have a creation and economic growth by improving made in South Carolina in the first right to have your say, and we will access to public capital markets for emerg- year were Ex-Im financed. There was a have the debate and I am looking for- ing growth companies. deal between Boeing and Air India ward to the debate about what we Pending: where a letter of credit was issued by should or should not do. But under the Reid (for Reed) amendment No. 1833, in the Ex-Im Bank to allow traditional fi- process we have now, not one amend- nature of a substitute. nancing to occur, and Boeing was able ment can be offered on our side. We Reid amendment No. 1834 (to amendment to sell a big order of American-made have to do better. We had a transpor- No. 1833), to change the enactment date. Reid amendment No. 1835 (to amendment jets to Air India. That is just one ex- tation bill pass with 74 votes. We have No. 1834), of a perfecting nature. ample. had a good exchange here lately with Reid (for Cantwell) amendment No. 1836 (to GE makes gas turbines to generate judges. I am very proud of what our mi- the language proposed to be stricken by power for emerging areas such as Af- nority and majority leader worked out amendment No. 1833), to reauthorize the Ex- ghanistan, Iraq, the Middle East, Afri- on judges. port-Import Bank of the United States. ca. All these distressed areas are going I want to get the Senate back to Reid amendment No. 1837 (to amendment to grow and they are going to need being the Senate. I think Ex-Im reau- No. 1836), to change the enactment date. power. One-third of the sales coming thorization should be an integral part Reid motion to recommit the bill to the of any jobs bill. I want to put it in the Committee on Banking, Housing, and Urban out of Greenville, SC, for the gas tur- Affairs, with instructions, Reid amendment bines made in America and creating Senate bill. I will gladly vote for it. No. 1838, to change the enactment date. American jobs goes through Ex-Im fi- There are a bunch of Republicans over Reid amendment No. 1839 (to (the instruc- nancing. here who will support extension of Ex- tions) amendment No. 1838), of a perfecting Here is the issue. If America allows Im financing with reforms, but none of nature. our Ex-Im financing system to go away us want to be put in a situation where Reid amendment No. 1840 (to amendment in May, if that is the will of the Con- our colleagues cannot have a say where No. 1839), of a perfecting nature. gress, then you have destroyed the they disagree with us or that we can- The PRESIDING OFFICER. The Sen- ability of many companies in this not reform the bill. That is not the way ator from Iowa. country to grow their business. As the to go. Mr. HARKIN. Mr. President, I come economy has been weak and stagnant I hope that between now and 4 to the floor to express my strong dis- here at home, here is the good news: In o’clock, the minority leader and the appointment with the so-called small terms of exports, we have increased our majority leader can find a way to bring business legislation passed by the export sales 20 percent. up the JOBS bill, allowing it to be House of Representatives which is now Imagine an America that could not amended in an appropriate way and coming before the Senate this after- continue to increase export sales. taking votes some of us don’t like, but noon for a cloture vote and to express Imagine a Boeing manufacturer that it is part of democracy—have a robust my support for the substitute amend- could never sell an American-made air- debate on a jobs package that could ment offered by Senators REED of

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00008 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.013 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1825 Rhode Island, LEVIN, LANDRIEU, and you can be an investment bank. If you essary to allow small businesses to others, of which I am a cosponsor. are a commercial bank, you are a com- grow without jeopardizing our finan- Quite simply, there is a right way mercial bank. If you are an insurance cial markets and hurting consumers. and a wrong way to address some of the company, you are an insurance com- SEC Chairwoman Mary Schapiro legitimate concerns about the ability pany. But if you are an investment wrote in a March 13 letter to Senators of small businesses to access capital. bank, you can’t sell insurance. If you JOHNSON and SHELBY: Unfortunately, the House bill is com- are an insurance company, you can’t be I believe there are provisions that should pletely the wrong approach. In the an investment bank and you can’t be in be added or modified to improve investor name of helping small business, the bill commercial banking. protections that are worthy of the Senate’s takes a meat ax to the very investor That worked well for over half a cen- consideration. protection laws that have allowed our tury in our country. During the boom The substitute amendment offered by capital markets to flourish. years of the 1950s, the 1960s, the 1970s, Senators REED, LEVIN, and LANDRIEU On Sunday, March 11, the New York into the 1980s, this worked well for our includes these important reform provi- Times published an editorial about the country. All of a sudden, Wall Street sions. Let me list a few of the things House bill titled ‘‘They Have Very got together and said: Wouldn’t it be the substitute amendment would do. Short Memories.’’ This title could not great if we could break down these First, the House bill would allow be any more appropriate because in the walls and put this all together? And companies to advertise risky, less regu- wake of the dot-com bubble, the Enron they came to Congress in the 1990s and corporate accounting scandal, and the lated, unregistered private offerings to put together a bill to get rid of this the general public using billboards 2008 financial crisis, advocates of this Glass-Steagall protection. bill must have very short memories in- along the highway, cold calls to senior Then what happened? These huge fi- living centers, or other mass-mar- deed. nancial companies, such as Citigroup The idea that this is the right time keting methods. and AIG, sort of sprung up because now Do you know what this means? Let’s to further weaken regulations on Wall they have insurance—AIG—AIG now Street is simply unconscionable. As we say an elderly person is living in a sen- becomes a commercial bank and it be- ior living center or maybe going there are continuing to dig out of the worst comes an investment bank. They get financial crisis since the Great Depres- for recreation. All of a sudden they are larger and larger, and they get reck- in a room and a lecture is given to sion, which has brought so much pain less. They take irresponsible risks be- to hard-working middle-class families, them about how they can take their cause while they might have known 401(k) money—maybe they have the idea that the solution to what ails about insurance, they didn’t really our economy is to further deregulate $100,000—you can take some of your know about investment banking. In- 401(k) and put it into this small start- the financial sector and to open the vestment banking may have known door for fraud and abuse simply makes up, and, guess what, it is going to be about investment banking, but they like the beginning of Apple Computers no sense. didn’t know a heck of lot about insur- According to a recent report from the or it is going to be the beginning of ance or commercial banking. So we got Center on Retirement Security at Bos- Microsoft. This is a small company. If into this huge irresponsible financial ton College, financial scams against you just invested a few hundred dol- structure, and it plunged the global seniors enabled by the Internet are al- lars, why, you can quadruple your economy into the worst financial crisis ready on the rise. For this reason, money, probably, in 4 or 5 years. in generations. That is what they can do under the AARP wrote that their ‘‘primary con- I am proud of the fact that I was one House bill. They can come in with cold cern is that these bills . . . inad- of only eight Senators to vote against calls—anything. The Reed-Landrieu- equately protect against the potential the deregulation of Glass-Steagall. I Levin amendment would allow firms to harmful impact on investor protections tell you, this bill reminds me so much advertise only to investors with appro- and market integrity.’’ of that. It was ‘‘follow the crowd.’’ Ev- Even more, the North American Se- priate resources and sophistication to erybody was for it. President Clinton curities Administrators Association— bear the risks. was for it. Secretary Rubin was for de- this is the organization of State securi- regulating Glass-Steagall. Larry Sum- The House bill would tear down pro- ties regulators—said of the House- mers—I don’t know whether he was tections put in place after the late- passed bill: with the national Council of Economic 1990s Internet stock bubble burst that By placing unnecessary limits on the abil- Advisers at that time—was for it. Re- prevented conflicts of interest from ity of State security regulators to protect publicans were for it. And it just went tainting the quality of the research retail investors from the risks associated about companies. We know researchers with smaller, speculative investments, Con- through here like greased lightning. Wall Street was for it. Glass-Steagall were involved with the investment gress is poised to enact policies intended to bankers doing the initial public offer- strengthen the economy that will likely was old, don’t you see. That was old have precisely the opposite effect. stuff back from the Depression. We ing. They were given all this stuff ‘‘Precisely the opposite effect’’—that needed something new, a new regime about how great this was and how is from the North American Securities out there. As I said, I was one of eight much money it was going to make in a Administrators Association. Who are who voted against it, and I spoke short period of time. we listening to around here anyway? against it here on the floor at the time. What we need is a firewall to keep Supporting that view, the AFL–CIO I said: We are going to regret this. And, the investment bankers separate from wrote to Congress that ‘‘while the pro- boy, did we ever learn to regret what the researchers. That is what Reed- ponents of the ’capital formation’ bills we did in deregulating Glass-Steagall. Landrieu-Levin would do, so there is no claimed they would promote jobs . . . I bring this up because Simon John- conflict of interest there. they would actually have the perverse son, the former Chief Economist at the The House bill would allow very large effect of raising the cost of capital for International Monetary Fund, the IMF, companies with up to $1 billion in reve- all companies by increasing the risk of recently wrote: nues to offer stock to the public, yet fraud.’’ With the so-called jobs bill, Congress is avoid financial transparency and audit- Passing the House bill would be a ter- about to make the same kind of mistake ing requirements designed to ensure rible mistake. I remember well the last again as in the repeal of the Glass-Steagall they are not cooking the books. time we rushed to deregulate the finan- Act. The Reed-Landrieu-Levin amend- cial sector in the name of creating I urge my colleagues to take these ment would ensure that essential in- jobs. I was here in the Senate then. It words seriously. Unless we do this in vestor protections apply to large com- was in the late 1990s when we passed a the right way, future Members of the panies by lowering the exemptions to bill to repeal the Glass-Steagall Act Senate will be standing right here la- companies with less than $350 million that was enacted during the Great De- menting the fact of what we did in a in revenues. That number actually pression. hurry to follow the crowd. came from the SEC, as sort of a reason- What happened was Glass-Steagall Fortunately, there is an alternative able amount—not $1 billion. That said: If you are an investment bank, way to make the reforms that are nec- would allow huge companies to not

VerDate Mar 15 2010 00:03 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00009 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.014 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1826 CONGRESSIONAL RECORD — SENATE March 20, 2012 have to have the auditing require- in the last 10 years made a lot of Mr. HARKIN. I thank my colleague ments, for example, that the SEC re- money on Wall Street. You know what. from Louisiana for her leadership on quires, or the financial transparency. They still have their money. They have this issue. We are all busy around here. Think about preying on the public with taken that money and they bought We have our issues that we look at. I that. We are a big company. We have other things, and now they are sitting have other issues in my committee up to $1 billion in revenues. You don’t pretty. Yet homeowners and average that I am so focused on now that I had have to worry about this. You can in- ordinary Americans have lost their not really paid attention to this until vest your money here, and don’t worry shirts in this economy in the last 10 the Senator from Louisiana brought it about auditing and stuff like that, we years. But the people who engineered up last week, and then I began to ask take care of it ourselves. If we were these new devices, these new kinds of myself: What is this all about? The doing bad things, we would not be so derivatives, who worked to do away more I looked into it, the more dev- big, right? How many times have we with Glass-Steagall, made a lot of astating I found this piece of legisla- heard that before? money on Wall Street. tion that came from the House. The House bill will allow unregulated I can tell you that if the bill passes I thank the Senator from Louisiana Web sites to peddle stocks to ordinary without the Reed-Landrieu-Levin for having the foresight, courage, and investors without any meaningful over- amendment, you are going to see a new determination to make sure we are all sight or liability, which could give rise flourish of activity on Wall Street. A aware of what this legislation does. to fraud, money laundering, and other lot of Wall Street bankers and a lot of And, quite frankly, I commend the risks. That is what is called crowdfund- people will make a lot more money. Senator from Louisiana for slowing ing. And you know what. A few years from We keep hearing this word ‘‘crowd- now we are going to hear all kinds of this down. Since last week, I have funding.’’ Whenever I hear that word, I stories about elderly people or people talked to other Senators who had not get a little nervous. Whenever the about to retire who have 401(k)s who really focused on it either. We have crowd is moving in one direction, you got sucked into investing someplace other responsibilities and duties, but want to ask questions: What is moving without any real knowledge of what the Chair of the Small Business Com- the crowd? Why is the crowd moving in the business was, not to mention other mittee focused on this, and I thank the that direction? Crowdfunding? The people who maybe went on their Web Chair for her great leadership on this Reed-Landrieu-Levin amendment site and were lured into investing a few issue. I hope we can adopt the sub- would protect the integrity of these dollars—$100, $200, $500. You say, well, stitute amendment to this bill later markets by ensuring that the Web site they lost it. They didn’t lose much. today. intermediaries are subject to appro- But if you add that up, it is thousands Ms. LANDRIEU. Through the Chair, I priate levels of oversight. Think about and thousands of Americans. It may be thank the Senator from Iowa. this: Unregulated Web sites can peddle a small loss to each individual person, I also recognize the Senator from Or- stocks to ordinary investors without but the money gained by this so-called egon, who is on the floor, who has had any oversight or liability. The House startup company—that may go under such an impact on helping us to focus bill would allow extremely large com- in a year or less—the people who start- on the details of this bill that was panies with tens of thousands of share- ed the company walk away with the rammed through the House and was on holders to evade the Securities and Ex- money. We are going to be hearing sto- a fast track to get approved over here. change Commission oversight. Let me ries about that in the next 5 to 10 years As I have said many times, I am not repeat that. The House bill would allow if this bill passes. opposed to the underlying concepts of Again, Wall Street made out like extremely large companies with tens of this bill, which will broaden the oppor- bandits in the last 10 years, but for the thousands of shareholders to evade tunity for average people to have some rest of America it was the worst eco- SEC oversight. The Reed-Landrieu- excellent opportunities for investments Levin amendment would ensure that nomic crisis in generations. I close by saying the Senate should to help them increase wealth. We on banks and other large companies with not follow the crowd. The House rushed our side of the aisle are not opposed to lots of shareholders are subject to the this through without any real due dili- increasing wealth. We want to make basic transparency, integrity, and ac- gence, but isn’t the purpose of the Sen- sure that basic investor protections are countability protections. ate to cool and slow it down? Let’s in the bill, and they are absent from Right now, under SEC law, if you the House bill. have over 500 shareholders, you have to take a close look at it. I urge my colleagues to oppose the go public. And when you go public, you We are not talking about mom-and- House measure and support the sub- have to be subject to accounting prin- pop operations when you are talking stitute amendment when it comes to ciples, oversight, and transparency by about companies with revenues of $1 the floor later today for a vote. Let’s the SEC. The bill raises that to 2,000 billion. The Senator from Iowa is well not repeat the mistakes of the past. aware, as is the Senator from Oregon, shareholders. Yet they can go out there I yield the floor. and—I don’t know what Facebook has of mom-and-pop operations. We have The PRESIDING OFFICER (Mr. them in our States. We have mom-and- right now, but I don’t think they have TESTER). The Senator from Louisiana. 2,000 shareholders; maybe, but I don’t pop farmers, office supply companies, Ms. LANDRIEU. Mr. President, let shoe repair companies, even substan- know. Let’s say they have 1,000 or 1,200 me begin by thanking Senator HARKIN tial businesses. There are families who shareholders. They can get by without for his excellent statement and, as own three and four and five res- having any real SEC oversight as long usual, his very good judgment on an taurants. We are very familiar with as they have less than 2,000 share- issue that the Senate is going to be that. But under no circumstance would holders. Should that be allowed in this voting on at 4 p.m. and 5 p.m. today as those companies meet the $1 billion in economy with all that we know, with opposed to 20 minutes from now, be- sales, so we are not talking about what has gone on in the recent past? cause this issue needs more debate, and small business. That is why, as the In sum, the substitute amendment is the Senator from Iowa raised some Chair of Small Business, I am here to vastly better than the House-passed very important questions that need to say there is nothing small about this legislation. It protects investors, it be answered. I want to start by thank- protects consumers, it protects our ing the Senator for raising the issues bill. This is about big business getting capital markets that allow small busi- that are so important for us as we con- out from underneath regulations that nesses to grow. So let’s heed the lesson sider this House bill that was—in your we spent decades trying to put into of the last decade; let’s take a step words, and I will add—rushed over to place for good reason. back; let’s pause before rushing to de- the Senate. Did we not just have a financial regulate our economy and Wall Street I spoke to BARNEY FRANK yesterday, meltdown on Wall Street? Did I miss a even further. Previous acts of Congress a very respected Democratic Member, chapter in this saga? Didn’t we just to deregulate our markets in the hope and he assured me we were actually pull ourselves up from the brink of of spurring economic growth may have doing the right thing by slowing this international financial collapse started helped Wall Street, and a lot of people down. not by Korea, not by Japan, not by

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00010 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.015 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1827 China, but by the United States of Look, I have been guilty of doing and balances that help companies prevent America with our inability to properly that myself. Nobody is perfect around outright fraud and costly accounting mis- regulate our financial system? Didn’t here, but there is a time when you do takes. we just almost bring the world econ- something like that that it is called to It goes on to say: omy to a halt? Did I miss this? So this your attention and you say: I am sorry, Emerging companies would also be able to little innocuous bill flies over here I shouldn’t have done it, and this is the promote public offerings with less-than-com- from the House with a fancy name right way to go. And that is what we plete information by ‘‘testing the waters’’ talking about jobs, and because we are need to do now. with fancy PowerPoint slides and other pre- all desperate to create more jobs—we As Sir Francis Bacon said over 400 IPO materials. Executives wouldn’t be held accountable for any misrepresentations. understand our people need more jobs. years ago: Knowledge is power. The We understand that government has a more knowledge we have about this bill I say to my colleagues, what are we role in creating jobs, of course, with will give us the power to advocate thinking? We are not. We have to put the private sector. We know that the against it. on our thinking caps. Let’s amend this policies we drive here, whether it is tax I am here again to tell my colleagues House bill. policy or regulatory policy or whether the more you will learn about this run- The bill from the House did not even we say this is legal and this isn’t, have away freight train, the more red flags go through our Banking Committee. a real impact on job creation. We look are being waved. Red flags are waving Had the bill gone through the Banking at the title of the bill, it says jobs, and because of the unintended con- Committee, had it been under the we cannot wait to vote for it. But if we sequences of the House bill for inves- watchful eye of some of our Democrats are not careful and we pass the House tors, small businesses, and our econ- and Republicans on the Banking Com- bill on this subject without an amend- omy in general. That is why Senator mittee, and had the bill come out of ment, it will not create jobs, it will kill JACK REED, Senator CARL LEVIN, Sen- the Banking Committee with a Demo- jobs. ator MERKLEY, and others have been cratic and Republican vote—or even As the Chair of the Small Business down here now for days encouraging with the majority of Republicans and Committee, I have to say I don’t think Senators to review the bill, go back one or two or three Democrats—this any Member has stood on this floor and talk with your staff. Please allow Senator would not be standing here be- longer or spoken more directly to the us some time to make some serious cause this is not my jurisdiction. I am issue of getting capital into the hands changes. not on the Banking Committee. I am of business than I have. So I hope I Now, even if my colleagues can’t be- the chair of the Small Business Com- have developed, on both sides of the lieve me on these issues, I most cer- mittee. I would honor the work of the aisle, some credibility to say: Yes, we tainly hope my colleagues can believe Banking Committee, and I would have want to open capital opportunities to the Bloomberg report. The Bloomberg simply said I don’t necessarily agree business, but we must have investor report comments that have been with the bill; I will just vote no. But protections. If not, we will set our- made—Bloomberg is a very widely the bill didn’t even go through the selves backward several decades as op- read, very reputable wire service and Banking Committee. It just flew right posed to forward, and that is not what newspaper now, and, of course, they here to the Senate floor because some- we want to do. have other interests as well that com- body wants a bumper sticker for their I rise to urge Members to consider ment daily on the financial markets of next campaign. voting for the substitute that Senator the world. It is one of the most re- AARP doesn’t think the bumper REED, the ranking member on banking, spected sources. They have basically sticker is a good one because they have Senator LEVIN, the chairman of the in- editorialized against the House bill. come out against it because many of vestigative committee who has done Why would they do that? Let me read the people who got their bank accounts extraordinary work rooting out fraud my colleagues what the Bloomberg edi- down to zero were the elderly, the peo- and corruption, a long-serving, well-re- torial said a few days ago. They said: ple who can least afford this kind of scam and fraud on Wall Street, let spected member of this caucus—obvi- [T]he JOBS Act simply goes too far. It ously the senior Senator from Michi- would gut many of the investor protections alone on Main Street. They are the gan is more concerned about jobs than established just a decade ago in Sarbanes- ones who saw their 401(k)s go down any of us. He has lost more jobs—well, Oxley. A wave of accounting scandals—think from $300,000, which took them their probably per capita except potentially Enron and WorldCom—have destroyed the whole lives to save, to $50,000. How do for the State of California. So why nest eggs of millions of Americans and up- we think they feel? That is why AARP would he be joining us in opposing a ended investor confidence in Wall Street. has come out against the House bill. jobs bill? Because he knows what I The relief would extend beyond small busi- I am sure there are some people say- nesses and apply to more than 90 percent of ing this is just Democrats wanting to know, what Senator REED knows, what companies that go public. Senator MERKLEY knows, what Senator regulate everything and not allow cap- At a time when we are trying to HARKIN knows—and those who have italism to thrive. Nothing could be fur- taken the time to review the bill—that build investor confidence, to build our ther from the truth. I have spent my on its surface it looks good, but even economy, and to create jobs, we are whole time trying to create jobs and the Chair of the SEC has cautioned us about ready to exempt 90 percent of the opportunity for small businesses in not to vote for the bill as it stands, and companies that are going public from America that represent 27 million busi- also says it can be fixed. It can be full disclosure? I am the sponsor of the nesses, and 20 million of them are inde- amended, but we need to oppose cloture amendment that tried to exempt small pendent operators and 7 million are so we don’t end the debate but we begin companies from these regulations— classified as small businesses below 500 the debate and then get to a position companies of $50 million or $100 million employees. I know them pretty well. I which the leadership can most cer- in sales. That would cover every mom have worked with them very closely. tainly get us to where appropriate and pop known to man. But the House Many of them are Main Street alli- amendments could be offered. bill exempts companies up to $1 billion ances against this bill, small business I am saying: Please don’t let the in revenues from full public disclosure. alliances, and the chamber of com- word ‘‘jobs’’ in the House bill—which Is this what we want to do at a time merce has even expressed some concern sounds so enticing—fool you. In reality when we are just regaining investor about the House bill. this is less about job creation than it is confidence? I don’t think so. We are creating jobs. This is what about rolling back key protections for Bloomberg says to put on the brakes: the President inherited: a freefall of investors. Unfortunately, I have to say At the center of the package is a new class job loss in this Nation. This is what he that I think there is a little election of emerging growth companies, defined as inherited when he became President in year politics at play from both the those with as much as $1 billion in annual the early part of 2009. He was elected in revenue, which would be exempt from a host White House’s perspective and the Re- of disclosure, reporting and governance 2008, but he didn’t take office until publican caucus that saw this as a good rules. These companies would be able to op- January 2009. He walked to the cap- way to position themselves for the erate up to 5 years without an independent tain’s chair and sat down after the ship election. test of their internal controls—the checks had hit the iceberg, not before. He has

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00011 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.017 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1828 CONGRESSIONAL RECORD — SENATE March 20, 2012 battled with us mightily to move these to participate in the great American We have seen some similar Internet numbers to where we can see jobs being dream and would like to invest in these models. One model, for example, en- created. The last thing we need to do is new rules and regulations on the Inter- ables individuals across America to to stop this, and the House bill, with- net, to invest in companies that have look at projects—projects for art and out investor protections, absolutely potential. But, please, let’s give them, civics, projects across the country— has the possibility of doing just that. the investor, protections they deserve. and say: Yes, I want to make a small Time and time again, I have stood One more thing and I will turn it dollar investment—which is truly, in right here on the Senate floor fighting over to the Senator from Oregon. I this case, a donation—to that social with my colleagues to increase access wish to say this to the community project, to that art project. Such a site to capital for America’s job creators. I bankers: You may have some others is kickstarter.com. So on the site is a support adding capital and directing it who support you on this floor, but I list of projects, and then people can go or helping it to be directed to better don’t think you have anybody who does in and decide what they want to sup- places, to make the process more as strongly as I support community port to help make it happen. Whereas democratic. bankers. There is a provision in this in the past, someone who wanted to do I understand the system has been ba- bill that expands your shareholders a documentary film might have had to sically set up for those who go to the from the cap of 500 shareholders that seek out some substantial dollars, high and mighty Ivy League schools, was put there in 1960. In our bill, the some large dollar funders, now they who join the same clubs, whose fami- substitute, we move it up to 750 share- can go to kickstarter.com, present lies socialize together for years and holders. I am willing to go back up to their project, and possibly raise the years. I understand the rules have been the House number of 2,000 because capital they need from thousands of written for that group. I would like to banks are regulated. They are over- small dollar donors. write them for everyone, and I am at- regulated community banks, in my For instance, in 2010, a filmmaker tempting to do that. But we have to view. So I am willing to extend that to raised $345,000 to make a documentary write and expand those rules with the 2,000 shareholders. about jazz from a pool of 3,000 donors, right protections, and they are not BARNEY FRANK agrees with that. I most of whom donated $100 or less. We present in the House bill. have talked to Senate Democrats, and also have peer-to-peer lending on the I am a Democrat who used to love they agree with that. Please don’t put Internet where folks can say this is what President Clinton would say: Our your political might in supporting the what they would like to borrow money job is to create more millionaires in House bill just because you have your for, and people can get on and say, yes, America, not less. I am proud of the number in there that you want because they will lend that money. book ‘‘The Millionaire Next Door,’’ you will, in my view, undermine inves- But what we do not have is a process which says most millionaires in Amer- tor confidence in this new way we are in which companies can list themselves ica aren’t people who inherited their trying to help people, called on the Internet and say: Do you want to invest in my company? Here is my money but people who worked hard for crowdfunding on the Internet. We will dream. I am going to make a better it because of our system. I am proud of take care of your issue. I have it in my coffee shop. I am going to make a that. I have spent my life helping to sights. I know it is important to you, small wedding cake company. Do you build it. I am for people getting rich, and if you give us time we can try to want to invest in my vision, in my for people making money. But we have fix that. dream? Here are the details. to write these rules fairly or it is the I thank the Senator from Oregon for Folks can get on and join and help poor people, it is the middle class, it is joining me. He is truly an expert on create that startup capital or create the people who didn’t go to the Ivy this particular subject, and he can add the capital for a small business to ex- League schools who don’t have the some more detail to what I have tried pand. right insider information who are to explain, and we will be happy to an- So that is what crowdfunding is. It is going to be led down the Primrose swer any questions our colleagues have parallel to these other efforts. What we path. about this underlying issue which is so have in the House bill is basically a So let’s be careful. Let’s not support important. provision which says: No rules. Do the House bill as it has come over here. I yield the floor. whatever you want. We scrambled—and I mean the word The PRESIDING OFFICER. The Sen- Now, unfortunately, that does not ‘‘scrambled’’—last week to try to put a ator from Oregon. work. It does not work because if we do substitute together, and that sub- Mr. MERKLEY. Mr. President, I rise not require the company to give infor- stitute has my name on it. It has Sen- today to ask my colleagues to give se- mation about their company, if we do ator JACK REED first, my name second, rious consideration to a major piece of not provide rules that require account- Senator LEVIN third, and a group of legislation that is a crowdfunding ability for the accuracy of that infor- others who have joined us. amendment introduced by Senator mation, then what we are simply doing Our substitute is not perfect either. I BENNET and myself and has the support is saying here is a Web site where pred- hope our substitute can get 60 votes of Senator LANDRIEU, Senator BROWN, ators can put up a fictitious story and that we can amend a few things and a number of others. I thank Sen- about what they want to do, make it as the SEC has brought to our attention ator LANDRIEU for the points she has exciting as possible, and run away with since we were kind of on a tight time- been making and for her fierce advo- people’s money—no consequences; pay frame to get something to the leader- cacy for creating a highway for Ameri- themselves a salary, dump out the ship. I would rather be more careful cans to build wealth without creating money. The House bill requires no in- with the work I submit to the Senate, avenues that essentially send people formation. If folks do put up informa- but we were under a tight timeframe, into either blind alleys or over a cliff. tion, it does not require that informa- and even our bill has to be amended. That is what this conversation is all tion to be accurate. It legalizes preda- I am asking my colleagues, if they about today. We want to enable aspir- tory scams. It says people can list and can’t vote for our bill, which is the sub- ing entrepreneurs to access capital and close in a single day. stitute bill, then please do not provide to do so in ways that allow new oppor- So for those who say: Well, informa- cloture to the House bill either. Let’s tunities to create, but to make sure in- tion will get out in some kind of mirac- take a few days. We are not asking for vestors have the information they need ulous manner, there will not be the weeks. I am not even trying to kill the to make reasonable choices. time to get it out because a predator House bill. I am simply trying to The amendment I am introducing can put up their false story, collect the amend it so it works for people who specifically is a crowdfunding amend- donations, close the investment in a can’t go to Harvard and can’t go to ment. My colleagues have probably single day, and walk away, having Stanford and can’t go to some of these heard this term a number of times. It scammed thousands of Americans out Ivy League schools; that it works for enables aspiring entrepreneurs to ac- of their hard-earned cash. So we need people who are going to some commu- cess investment capital via the Inter- basic rules of the road. nity colleges and to schools in their net from small dollar investors across The possibility for capital formation States, middle-class families who want America. This is very exciting stuff. through the Internet through

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00012 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.018 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1829 crowdfunding is enormous. In 2011, So if they say: I am seeking $550,000 risk. It simply says, when they provide Americans had invested $17 trillion in to do X, when Americans across the material information they have to do retirement funds. Imagine if 1 percent country have put forward enough small appropriate due diligence to make sure of those investments went into investments to reach that goal of it is accurate. crowdfunding. The result would be $170 $550,000, the investment would close. Crowdfunding has enormous poten- billion of investment in our startups But it also allows, if investors decide tial to bring more Americans than ever and small businesses. That is extraor- they are offering more—maybe folks into the exciting process of powering dinarily powerful—more powerful than sign up, and they are so excited about up startups and expanding small busi- loans to small businesses across this this vision, this product, this inven- nesses. I hope in the course of the con- country. So it has huge potential. tion, this strategy, that they say: I am sideration of the capital formation bill So a small business or startup com- putting up $750,000, even though you before us, we will have a chance to pany would provide basic financial in- only asked for $550,000—it would still present a variety of amendments, in- formation and vouch for the accuracy enable the small company to say: No, cluding this crowdfunding amendment. of this information. The company we can use that extra $200,000, thank I certainly encourage my colleagues would explain its vision of how it is you very much, if they should choose to listen very carefully to the points going to invest that money. The to do so. Senator LANDRIEU has been making, projects might range from small- to It also provides a very important pro- Senator JACK REED has been making, medium-sized. A small wedding cake vision so the small investors do not Senator DURBIN has been making. The company might want to buy an indus- count against the shareholder number point is this: Let’s take and make a trial oven. Another company might that drives companies to have to be- powerful tool work. Let’s not, however, want to seek a new manufacturing line. come a fully public company. That is take and destroy a powerful tool by And the crowd—that is all of us—surf- critical and interrelates with other opening it to all kinds of predatory ing the Internet would visit the portal, parts of the crowd formation bill before schemes and scams. review the financials, review the vi- us. Mr. President, I yield the floor. sion, and say: I want to be part of that, Then, turning to the third area, basic The PRESIDING OFFICER. The Sen- I am going to invest, and here is the rules of the road to protect investors ator from Louisiana. percent of the company I get in return. and ensure the accuracy of information Ms. LANDRIEU. Mr. President, I The key to this is that the companies companies post, companies partici- would like to wrap up my comments in provide accurate information; other- pating in this marketplace must dis- about 5 minutes. I see the Senator from wise, as I have described, we simply close their basic financial information: Delaware on the Senate floor. He may pave the path for predatory tactics. a business plan, a target offering choose to speak. That would destroy the reputation of amount, and the intended use. I thank the Senator from Oregon for crowdfunding. That would destroy the The Web sites are subject to over- his comments. I think it is telling— ability to create a powerful capital for- sight by the SEC and security regu- very telling, actually—that this is a mation market through the Internet. lators of their principal States. There The amendment we are presenting Tuesday afternoon at 12:10, and nor- are aggregate annual caps. This is a does three things: It streamlines the mally when there is a bill that is pop- process for setting up a crowdfunding key predatory protection to prevent ular on the Senate floor, there are lots portal; it streamlines the process for pump-and-dump schemes. If you have of people who come down to speak for companies to list themselves on that seen the movie ‘‘Boiler Room,’’ you it. I understand not one person yet has portal; and it provides basic investor will know what I am talking about, shown up this morning to speak for the protections, the most important of where folks were set to pump up a House bill we are going to be voting on which is to provide basic information stock, and the only folks trading it today. about the company and for the com- were those who kind of received special I caution the Democrats to raise pany’s officers and directors to ensure information. Then, as soon as they in- your awareness. That is highly un- the accuracy of that information. vested—normally they are investing, usual. Usually, if a bill is well thought Let’s examine each of the three of buying the stock owned by the folks through and is popular and can stand these in turn. First, the streamlined who are doing the pumping—the whole on its merit, there are any number of registration for Web sites that offer thing collapsed afterwards and their in- people on the floor speaking for it. The crowdfunding. Our amendment pro- vestment was worthless. only people who have come to the floor vides two pathways: The first pathway So this is an essential part of making are those of us warning you to read the is for a portal to register as a broker- sure we establish a responsible market- bill, to reconsider your position, to not dealer. The second is a streamlined place that will succeed in being a foun- be lured by the title—JOBS bill, JOBS funding portal registration. These por- dation for capital formation. bill—but to read the bill and realize tals agree to provide a neutral market Also, we get rid of this 1-day, list- there are some far-reaching regulation environment; that is, they do not so- and-close process. So there is a 21-day elimination portions of this bill that licit purchases, they do not offer in- period—a very small amount of time in are not going to be good for the small vestment advice, and they do not han- the course of raising capital to create a businesses described by the Senator dle investor funds. They operate a mar- startup or to advance a small busi- from Oregon or the small businesses we ketplace, much as the New York Stock ness—21 days, which allows for the op- advocate for, both Republicans and Exchange operates a marketplace with- portunity for the sort of oversight that Democrats, on the Small Business out recommending particular stocks. a portal can provide or the SEC can Committee. It also creates a unified national provide to stop known bad actors and Just at a time when investor con- framework; otherwise, the portal would fraudsters. fidence is increasing, where jobs are have to deal with rules from 50 States. Finally, the officers and directors are being created in the country, why That is an untenable structure. So we accountable for the accuracy of the in- would we go to such a far-reaching bill? create a unified national structure for formation. This is essential. Without Let me start with statements that a portal to thrive in. this sort of accountability, every have been made just in the last 24 Now, turning to the second piece, fraudster out there will spin out a hours. I have quoted from Bloomberg, which is the streamlined process for story and try to raise money for their AARP, the chamber of commerce from companies to register, the amendment schemes. But by holding them account- last week and over the weekend. Today allows existing small businesses and able for the accuracy of the informa- is Tuesday. These are things that have startup companies to raise up to $1 tion, it says to them: No, I cannot do come in just in the last 24 hours. million per year. That is a substantial that. I can be held accountable. Steve Pearlstein of the Washington amount for a small business. It also This is exactly the right balance be- Post from March 18: provides flexibility in how a company cause it provides a due diligence safe What we also know from painful experi- would do this. A company could basi- harbor. It requires that any informa- ence—from the mortgage and credit bubble, cally say: Here is our target. If the tar- tion in dispute be material. So it does from Enron, WorldCom and the tech and get is met, the investment closes. not put the officers and directors at telecom bubble, from the savings-and-loan

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00013 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.021 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1830 CONGRESSIONAL RECORD — SENATE March 20, 2012 crisis and the junk bond scandal and genera- know there are some people who still I thank the Senator from Delaware. tions of penny-stock scandals—is that finan- think those regulations are too oner- He has been so outspoken and comes cial markets are incapable of self-regulation. ous. with such knowledge on these issues. I In fact, they are prone to just about every Yes, we are trying to relax them appreciate his thoughtfulness. I hope type of market failure listed in the econom- where we can. But a blanket exception he will agree to join me in voting ics textbooks. for companies up to $1 billion in rev- against the House bill and for his sup- Regulation is necessary. enue, I think that is going a little too port of a new crowdfunding proposal. I am here to say we need to reduce far, a little too fast. We have senior I yield the floor regulations on community banks that citizens to give some guidance and pro- The PRESIDING OFFICER. The Sen- are now heavily regulated by the new tection to. We have the middle class ator from Delaware. Sarbanes-Oxley, by their own State that is struggling from this recession. Mr. COONS. Mr. President, I am glad regulators. I am approving and sup- They depend on us to set the rules of this Chamber is focused on job cre- porting reducing regulations to bank- the road. ation, on access to capital, on ways we ers in this important legislation. That This is not about Big Brother, Big can help strengthen the speed and is not the issue. Sister government. People have to growth of high promise, startup compa- The issue is what the Senator from make their own choices. But when peo- nies. I am grateful for the input and Oregon spoke about: the new devel- ple make choices on the Internet based leadership of the Senator from Lou- oping opportunities for the Internet to on what looks like an official docu- isiana, for her hard work in trying to be used as a powerful tool to raise mentation, they assume someone ei- make sure we pay attention to the money for ideas, for businesses. ther in their State capital or their Na- matter that is before this body and We can see this tremendous revolu- tional Capital has framed these rules making sure we strike the right bal- tion occurring before our eyes. It does and regulations in a way that gives ance between continuing to ensure in- not mean that needs the same regula- them a fighting chance. vestor protection, while also providing tions as the old-fashioned financial We do not want to legalize fraud, and relief from regulations that may hold models. But we do need some regula- that is about what the House bill does. the promise of accelerating capital for- tions. What we are saying is that the It legalizes pathways to fraud. That is mation and job growth in this country. House bill goes too far. not what we want to do. How we get When I go home to Delaware every Listen to what Floyd Norris of the out of the mess we are in, I am not 100 night and when I attend events across New York Times said: percent sure. Because we have a sub- our State every weekend, I most fre- It gives some flavor of just how far the stitute on the floor, which is the Reed- quently hear from those deeply af- House bill goes that one of the changes the Landrieu substitute—I plan to vote for fected by our two long recessions, from three senators are pushing would force a it. If we can get 60 votes, then we can which we are still growing and recov- company trying to raise money from the get on debating that bill which is a ering, families who are still dealing public to show investors an audited balance substitute to the House bill. Perhaps with unemployment, with loss of their sheet. the leadership will allow us to amend homes or with the threat to loss of One of our amendments is for inves- our own substitute, which we would be their life savings, businesses that are tors to provide an audited balance happy to do. I think we could come to facing a credit crunch and struggling sheet. In the House bill we are consid- some agreement within less than 2 to expand or to retain their employ- ering, they can provide their own docu- days about what should be done in the ment. mentation—not audited by anyone, Senate and then send the bill back over Americans, I have heard over and made up. Then there are no con- to the House for their consideration over, and Delawareans want us to come sequences. There are no safeguards—or and then on to the President’s desk, a together and find solutions in this very few safeguards—in the House bill. bill we can all be proud of and con- body. The good news is that today, in a I have quoted Bloomberg now many fident we are trying to do the right rare bipartisan spirit, that is exactly times. Again, the terrific Bloomberg thing with this new sort of frontier on what we are doing. I am glad we are News editorial: Internet investing. taking up two different versions of this [T]he JOBS Act goes too far. It would gut We want to support our entre- legislation to create a positive climate many of the investor protections established preneurs. We want to make this proc- for capital formation for early stage just a decade ago in the 2002 Sarbanes-Oxley ess more democratic. We want to get companies that have enormous poten- law. A wave of accounting scandals—think out of the secret boardrooms and the tial to grow, one of which has passed Enron and WorldCom—had destroyed the private conversations on Wall Street. overwhelmingly in the House—and I nest eggs of millions of Americans and up- So many more people could take ad- understand has earned the public sup- ended investor confidence in Wall Street. vantage, appropriately, of exciting in- port of President Obama—but the other The relief would extend beyond small busi- vestments in the entrepreneurial spirit of which, as we have heard a number of nesses and apply to more than 90 percent of companies that go public. of America. Absolutely we want to do Democratic Senators speak to today, that, but that is not what the House tries to mirror those same core provi- John P. Mello, Jr., wrote in PC World bill does. sions but insists on investor protection on March 18: So let’s take our time. I am urging and on ensuring that we do not over- During the go-go days of the dot-com era, my colleagues, if they can vote for the reach in opening markets in ways we it was common for analysts to promote IPOs substitute and give us cloture on it, we may regret later. being offered by their investment bank mas- promise we will be open to amend- Sometimes, as the Chair knows all ters, regardless of the worth of the offering. The existing rules, which would be ments from both sides. If we do not get too well, this body deliberates overly scrapped by the JOBS Act now before the cloture—I see the Senator from Dela- long. In fact, in my first year and a U.S. Senate, were designed to protect inves- ware—if we do not get cloture, please half here, I have been struck at just tors from the conflicts of interest that dam- vote for the Ex-Im Bank amendment, how long we deliberate before acting aged the IPO market after the pop of the which is a proper amendment to the and on how many measures have sat on dot-com bubble, damage from which it has bill, and then vote no on cloture. We do the floor without action that should only recently recovered. not want to end this debate today. have been taken up promptly and Let’s not jump back into the briar Senators will be doing their constitu- quickly. patch. We are just getting ourselves ents a great disservice to vote on clo- In this case, I am concerned about untangled from it. What is the rush? ture on that House bill today. We need the opposite; that we are rushing This bill from the House has not even to fix it. We need to amend it and we through a measure that deserves some gone through the Banking Committee. can. Then we will have a bill we can all careful consideration and review. In We have spent a decade arguing about be proud of and at least be confident we any event, making progress in access Sarbanes-Oxley. We had multiple hear- have established the right safeguards to capital for entrepreneurs and start- ings. We had multiple debates on the and that we can be helpful to getting up businesses is something on which I floor. We had people come and testify, capital to Main Street and increasing hope we can all agree. In both the pro or con. Whether you are for it, it opportunities for entrepreneurship in versions of the bill that we will con- passed with lots of public debate. I America today. sider later today or tomorrow, there

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00014 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.022 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1831 are great ideas. I continue to believe ers are going to be competitive, we signed to spur ideas and encourage that ensuring investor protection, mar- have to ensure they have the support more of our colleagues to come to- ket transparency, and the vibrancy of they need, otherwise they will continue gether on this sort of bipartisan jobs our capital markets through pre- to lose out. legislation we can and should move to. venting fraud and ensuring clarity China already provides three to four In the case of encouraging IPOs, that about what investors are getting is a times as much export financing as we is exactly what has happened. Senators fundamental principle that all of us do to help their exporters. Our compa- SCHUMER and TOOMEY have also picked should share. nies, our manufacturers, our commu- up this particular proposal and moved But without the right time to con- nities, simply ask for a level playing further along with it. Then, on the sider this legislation, I am worried field. In my view, reauthorizing the Ex- House side, my longtime friend and fel- Im Bank is especially vital to these about the potential, the potential risks low Delawarean Congressman CARNEY for investors, the potential burden it companies and our manufacturing sec- worked with his Republican colleague tor. Given the realities of the global may place on business. I am worried Congressman FINCHER to write and about a proposal around beneficial economy, it is not enough for Amer- pass legislation on this exact issue ownership in one proposal, and I am ican companies to just make great which has now come to us as part of worried about concerns that may over- products. They also have to be able to this bipartisan jobs package, H.R. 3606. sell them to the burgeoning global ly open the market to fraudsters and I wish to specifically congratulate those who would scam investors on the middle class. As we all know, 95 percent of current Congressman CARNEY, who with this Internet. bill became the first freshman Demo- There is much to like about these and future customers and consumers crat in the House to pass a major piece proposals, though, and let me dedicate live outside the United States. Reach- of legislation. But as we heard Senator the remainder of my time to focusing ing these consumers who are hungry LANDRIEU speak to just a few minutes on two of them. Two of the strongest for American products is essential to ago and as several Senators have stood proposals we will consider today or to- the steady growth of businesses of all on this floor and raised today and last morrow address a critical need for our types. Boosting American exports will week, the question we have to ask is: business community, which is access to be central to creating the kind of In providing this relief from Sarbanes- capital. Capital is what allows busi- growth that will continue to sustain Oxley 404(b), what is the appropriate nesses to invest in new technology, this ongoing economic recovery and level? What is the appropriate dura- new facilities, new workers, and in allow our businesses to hire new work- tion? Where do we strike the right bal- growth. Credit has, as we all know, ers. Financing from Ex-Im can come in at ance between investor protection and been far too hard to come by in the last a critical time for businesses in need of accelerating capital formation and job 2 years. But we can and should take ac- capital, but it does not meet the needs growth? tion to make it more available to small of every company. For some other business owners with high growth po- Is it at $250 million, as we proposed early stage companies, Delaware busi- tential. in the AGREE Act, $350 million as the One option, as we have heard a num- nesses in particular, when they are in democratic alternative proposes that is ber of Senators address, is to continue need of capital, one solution is to move on the floor today or $1 billion? That is toward an initial public offering by be- to expand the opportunity for financ- what is provided in the bill that came coming a publicly traded company. ing from the Export-Import Bank. The over from the House. In my view and Today’s legislation also includes an other is to make somewhat easier the the view of many Democratic Senators, onramp to ease the path to an IPO. By we need to take the time to debate pathway to initial public offerings. To- reducing the regulatory burden on day’s legislation would ease both proc- this, discuss it, and ensure we are highly innovative companies poised for striking the balance. esses. That is the right kind of positive significant growth, we can encourage It is worth a few more hours of our movement that will help create oppor- job creation on a great scale. At the time to get this matter right. Creating tunity all over the United States and moment, we are simply not seeing the a favorable environment for businesses for companies in my home State of rate of IPOs in our economy that we to create jobs can and should be our Delaware. need to be helpful, and 92 percent of the top priority in Washington. Since I ar- First, if I can, the Export-Import jobs a company typically creates over rived a year and a half ago, that has Bank has long established its record of its entire life cycle come after it goes not always been the case. But today it promoting exports and job growth. It public. In the 1990s, nearly half of all can and should be the primary focus of has provided essential capital to help global IPOs happened in the United our work. There is no reason we have manufacturers and small businesses all States. Today, that number is less than over the country export more Amer- 10 percent. to rush to pass this today. We can and ican-made goods. The reauthorization There are many reasons companies should take some time to deliberate, to measure we take up, hopefully later choose not to go public. But one of work through the appropriate process. today, has passed unanimously out of them that I have recited repeatedly in It is my hope we will reauthorize and the Senate Banking Committee and Delaware and in Washington is regu- extend the reach of the Export-Import has already enjoyed broad bipartisan latory compliance under Sarbanes- Bank and that we will move to a con- support. Oxley section 404(b). That is a mouth- sensus, bipartisan bill that will Last year, financing from the Ex-Im ful, but it essentially requires some au- strengthen access to capital for entre- Bank supported hundreds of jobs in my diting, some disclosures, some pre-IPO preneurs and for early stage companies home State and thousands more across work, which while the spirit of the law and that will show all the people of the the country. The bank supported one is, in my view, the right one—ensuring United States that the House, the Sen- dozen companies in Delaware. For ex- transparency and investor protection is ate, and the President can and will ample, one, Air Liquide, has a propri- the right direction—this particular sec- stand together on the side of job cre- etary MEDAL membrane, a selectively tion has proven, in practice, to be over- ators in this economy. permeable membrane that turns land- ly burdensome to businesses with po- fill gas into usable energy; one example tential to be the greatest job creators. f of many innovative, local Delaware After hearing about this issue many companies creating high-quality jobs times, I got together last fall with my RECESS in our communities and able to sell colleague Senator RUBIO to craft a so- these products by export through Ex- lution. We found bipartisan agreement Mr. COONS. Mr. President, I ask Im Bank financing. on this and six other issues, which we unanimous consent that the Senate re- Equally important, the Ex-Im Bank included in our joint legislation, the cess until 2:15 p.m. today. has not added a single cent to the def- so-called AGREE Act, which we intro- There being no objection, the Senate, icit. It works to give American busi- duced last November. at 12:31 p.m., recessed until 2:15 p.m. nesses a fair share in the global mar- That legislation was chock-full of and reassembled when called to order ket. If American businesses and work- job-creating potential proposals de- by the Presiding Officer (Mr. WEBB).

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00015 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.023 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1832 CONGRESSIONAL RECORD — SENATE March 20, 2012 MOVING AHEAD FOR PROGRESS IN through 2017, and 2013 through 2022 for the Senate for budget year 2013, includ- THE 21ST CENTURY—Continued Social Security. ing new committee allocations, budg- The PRESIDING OFFICER. The Sen- In the case of the Committee on Ap- etary and Social Security aggregates, ator from North Dakota. propriations, the allocations for 2012 and pay-as-you-go scorecard, be printed and 2013 shall be set consistent with BUDGET CONTROL ACT RESOLUTION in the RECORD. Mr. CONRAD. Mr. President, the the discretionary spending limits set forth in the Budget Control Act. Con- There being no objection, the mate- Budget Control Act of 2011, which was rial was ordered to be printed in the signed into law by the President last sequently, the initial allocation RECORD, as follows: August, set in place budget enforce- matches the discretionary levels set in the Budget Control Act and will be re- ment measures in the Senate for budg- BUDGETARY AGGREGATES et years 2012 and 2013, as well as estab- vised to reflect adjustments to those [Pursuant to section 106(b)(1)(C) of the Budget Control Act of 2011 and lished caps for 10 years to address dis- levels as authorized by the Budget Con- section 311 of the Congressional Budget Act of 1974] cretionary spending and established trol Act. the so-called supercommittee to ad- In the case of allocations for commit- $s in millions 2012 2013 2013–17 2013–22 tees other than the Committee on Ap- dress entitlement spending and reve- Spending (on-budget): nues. propriations and the revenue and So- Budget Authority ..... 3,075,731 2,828,030 n/a n/a Specifically, to provide continued en- cial Security aggregates, the levels Outlays ...... 3,123,589 2,944,872 n/a n/a forcement in the Senate for 2012 and shall be set consistent with the Con- Revenue (on-budget) ... 1,899,217 2,293,339 13,871,251 32,472,564 budget year 2013, section 106(b)(2) re- gressional Budget Office’s March 2012 quires the chairman of the Budget baseline. In the case of the spending SOCIAL SECURITY LEVELS Committee to file not later than April aggregates for 2012 and 2013, the levels [Pursuant to section 106(b)(1)(D) of the Budget Control Act of 2011 and 15, 2012: (1) allocations for fiscal years shall be set consistent with the Con- section 311 of the Congressional Budget Act of 1974] 2012 and 2013 for the Committee on Ap- gressional Budget Office’s March 2012 $s in millions 2012 2013 2013–17 2013–22 propriations; (2) allocations for fiscal baseline and the discretionary spending Outlays ...... 495,077 633,714 3,722,461 8,772,738 years 2012, 2013, 2013 through 2017, and limits set forth in the Budget Control Revenue ...... 556,498 675,120 3,872,899 8,925,443 2013 through 2022 for committees other Act. than the Committee on Appropriations; In addition, section 106(c)(2) requires (3) aggregate spending levels for fiscal the chairman of the Budget Committee PAY-AS-YOU-GO SCORECARD FOR THE SENATE years 2012 and 2013; (4) aggregate rev- to reset the Senate pay-as-you-go [Pursuant to section 106(c)(1) of the Budget Control Act of 2011] enue levels for fiscal years 2012, 2013, scorecard to zero for all fiscal years $s in millions Balances 2013 through 2017, and 2013 through 2022; and to notify the Senate of this action. and (5) aggregate levels of outlays and I ask unanimous consent that the fol- Fiscal Years 2012 through 2017 ...... 0 Fiscal Years 2012 through 2022 ...... 0 revenue for fiscal years 2012, 2013, 2013 lowing tables detailing enforcement in SENATE COMMITTEE BUDGET AUTHORITY AND OUTLAY ALLOCATIONS PURSUANT TO SECTIONS 106(b)(1)(A) AND 106(b)(1)(B) OF THE BUDGET CONTROL ACT OF 2011 AND SECTION 302 OF THE CONGRESSIONAL BUDGET ACT OF 1974—BUDGET YEAR 2012 [In millions of dollars]

Direct spending legislation Entitlements funded in annual appropria- tions acts Committee Budget Authority Outlays Budget authority Outlays

Appropriations: Security discretionary budget authority ...... 816,943 n/a Nonsecurity discretionary budget authority ...... 363,536 n/a General purpose discretionary outlays ...... n/a 1,320,414 Memo: on-budget ...... 1,174,581 1,314,517 off-budget ...... 5,898 5,897 Mandatory ...... 752,574 736,733 Total ...... 1,933,053 2,057,147 Agriculture, Nutrition, and Forestry ...... 11,263 12,010 120,963 105,872 Armed Services ...... 141,487 137,506 107 105 Banking, Housing, and Urban Affairs ...... 55,448 53,912 0 0 Commerce, Science, and Transportation ...... 15,068 9,797 1,440 1,374 Energy and Natural Resources ...... 3,620 4,512 445 445 Environment and Public Works ...... 41,734 3,349 0 0 Finance ...... 1,464,370 1,459,722 536,698 536,459 Foreign Relations ...... 30,356 25,956 159 159 Homeland Security and Governmental Affairs ...... 99,262 94,484 9,832 9,832 Judiciary ...... 11,324 12,184 767 762 Health, Education, Labor, and Pensions ...... ¥16,581 ¥3,219 14,497 14,361 Rules and Administration ...... 42 131 26 26 Intelligence ...... 0 0 514 514 Veterans’ Affairs ...... 2,477 2,650 67,016 66,714 Indian Affairs ...... 3,159 1,311 0 0 Small Business ...... 1,799 1,799 0 0 Unassigned to Committee ...... ¥716,252 ¥743,765 110 110 TOTAL ...... 3,081,629 3,129,486 752,574 736,733 Note: pursuant to section 106 of the Budget Control Act of 2011, the section 302 allocation to the Committee on Appropriations for 2012 is set consistent with the discretionary spending limits as set forth in the Budget Control Act and in the preview report on discretionary spending limits submitted by the Office of Management and Budget as part of the President’s Fiscal Year 2013 Budget of the United States Government. To ensure consistency, for 2012, an offsetting adjustment has been made to ‘‘Unassigned to Committee.’’ As such, for purposes of Senate enforcement, the allocations to the Committee on Appropriations and other Committees are set exactly at baseline for 2012.

SENATE COMMITTEE BUDGET AUTHORITY AND OUTLAY ALLOCATIONS PURSUANT TO SECTIONS 106(b)(1)(A) AND 106(b)(1)(B) OF THE BUDGET CONTROL ACT OF 2011 AND SECTION 302 OF THE CONGRESSIONAL BUDGET ACT OF 1974—BUDGET YEAR 2013 [In millions of dollars]

Direct spending legislation Entitlements funded in annual appropria- tions acts Committee Budget authority Outlays Budget authority Outlays

Appropriations: Security discretionary budget authority ...... 546,000 n/a Nonsecurity discretionary budget authority ...... 501,000 n/a General purpose discretionary outlays ...... n/a 1,222,497 Memo: on-budget ...... 1,040,954 1,216,461 off-budget ...... 6,046 6,036

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00016 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.032 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1833 SENATE COMMITTEE BUDGET AUTHORITY AND OUTLAY ALLOCATIONS PURSUANT TO SECTIONS 106(b)(1)(A) AND 106(b)(1)(B) OF THE BUDGET CONTROL ACT OF 2011 AND SECTION 302 OF THE CONGRESSIONAL BUDGET ACT OF 1974—BUDGET YEAR 2013—Continued [In millions of dollars]

Direct spending legislation Entitlements funded in annual appropria- tions acts Committee Budget authority Outlays Budget authority Outlays

Mandatory ...... 815,671 802,183 Total ...... 1,862,671 2,024,680 Agriculture, Nutrition, and Forestry ...... 13,397 15,126 124,580 111,791 Armed Services ...... 146,698 146,584 110 108 Banking, Housing, and Urban Affairs ...... 22,167 17,455 0 0 Commerce, Science, and Transportation ...... 15,016 10,043 1,423 1,431 Energy and Natural Resources ...... 5,276 5,832 58 58 Environment and Public Works ...... 41,789 3,446 0 0 Finance ...... 1,337,888 1,328,474 590,738 590,431 Foreign Relations ...... 28,640 26,334 159 159 Homeland Security and Governmental Affairs ...... 102,276 98,148 9,834 9,834 Judiciary ...... 18,545 12,964 787 817 Health, Education, Labor, and Pensions ...... ¥15,400 ¥4,136 15,009 14,883 Rules and Administration ...... 41 8 27 27 intelligence ...... 0 0 514 514 Veterans’ Affairs ...... 999 1,167 72,319 72,017 Indian Affairs ...... 753 1,060 0 0 Small Business ...... 0 0 0 0 Unassigned to Committee ...... ¥746,680 ¥736,277 113 113 TOTAL ...... 2,834,076 2,950,908 815,671 802,183

SENATE COMMITTEE BUDGET AUTHORITY AND OUTLAY AL- SENATE COMMITTEE BUDGET AUTHORITY AND OUTLAY AL- Senate in the same manner as for a concur- LOCATIONS PURSUANT TO SECTIONS 106(b)(1)(A) AND LOCATIONS PURSUANT TO SECTIONS 106(b)(1)(A) AND rent resolution on the budget for fiscal year 106(b)(1)(B) OF THE BUDGET CONTROL ACT OF 2011 106(b)(1)(B) OF THE BUDGET CONTROL ACT OF 2011 2012. AND SECTION 302 OF THE CONGRESSIONAL BUDGET AND SECTION 302 OF THE CONGRESSIONAL BUDGET It goes on to use that exact same lan- ACT OF 1974—5-YEAR: 2013–2017 ACT OF 1974—10-YEAR: 2013–2022—Continued guage for fiscal year 2013. [In millions of dollars] [In millions of dollars] In many ways, the Budget Control Act was even more extensive than a Direct spending legis- Entitlements funded Direct spending legislation Entitlements funded traditional budget. It has the force of lation in annual appropria- in annual appropria- tions acts law, unlike a budget resolution that is Committee Committee tions acts Budget Budget Outlays not signed by the President. I think authority Outlays Budget Outlays authority Budget authority authority Outlays most Members here know a budget res- olution is purely a congressional docu- Agriculture, Nutrition, and Rules and Adminis- Forestry ...... 68,505 69,522 621,798 555,464 tration ...... 376 442 326 326 ment. The Budget Control Act is actu- Armed Services ...... 785,241 789,181 526 518 Intelligence ...... 0 0 5,140 5,140 ally the law. Banking, Housing, and Veterans’ Affairs ..... 7,047 9,216 806,272 803,252 Urban Affairs ...... 116,992 22,559 0 0 Indian Affairs ...... 6,493 8,347 0 0 No. 2, the Budget Control Act set dis- Commerce, Science, and Small Business...... 0 0 0 0 cretionary spending caps for 10 years Transportation ...... 80,462 57,377 8,232 7,987 Energy and Natural Re- instead of the 1 year normally set in a sources ...... 27,448 30,418 290 290 Mr. CONRAD. Mr. President, I wish budget resolution. Environment and Public Works ...... 208,452 16,701 0 0 to inform my colleagues that this No. 3, it provided enforcement mech- Finance ...... 7,137,214 7,117,022 3,575,357 3,575,244 morning I filed the budget deeming res- anisms, including 2 years of deeming Foreign Relations ...... 120,995 128,043 795 795 Homeland Security and olution for 2013 pursuant to the Budget resolutions which allow budget points Governmental Affairs .. 543,020 525,170 48,890 48,890 Control Act passed last year. This reso- Judiciary ...... 60,712 61,114 4,181 4,217 of order to be enforced. And No. 4, it Health, Education, Labor, lution sets forth the spending limits created a reconciliation-like supercom- and Pensions ...... 53,890 75,053 83,049 82,705 for fiscal year 2013 at the levels agreed Rules and Administration 192 273 146 146 mittee process to address entitlement Intelligence ...... 0 0 2,570 2,570 to by Democrats and Republicans in and tax reforms, and it backed up that Veterans’ Affairs ...... 4,410 5,418 379,554 378,044 last summer’s Budget Control Act. It Indian Affairs ...... 3,070 4,893 0 0 process with a $1.2 trillion sequester. Small Business...... 0 0 0 0 allows the appropriations committees So these claims that we do not have to now proceed with their work in a budget can now be put to rest. By fil- SENATE COMMITTEE BUDGET AUTHORITY AND OUTLAY AL- drafting bills for next year, and it en- ing the deeming resolution provided for LOCATIONS PURSUANT TO SECTIONS 106(b)(1)(A) AND sures the Senate will have the tools to in the Budget Control Act this morn- 106(b)(1)(B) OF THE BUDGET CONTROL ACT OF 2011 enforce the spending limits we agreed ing, the budget levels have been set for AND SECTION 302 OF THE CONGRESSIONAL BUDGET to on a bipartisan basis. next year. ACT OF 1974—10-YEAR: 2013–2022 I want to emphasize for my col- Last week, we received CBO’s up- [In millions of dollars] leagues that we do have a budget. dated budget estimates, which allowed Those who continue to claim we do not me to complete work on the budget Direct spending legislation Entitlements funded have a budget are either unaware of deeming resolution for 2013. The filing in annual appropria- what they voted on last year or are of this deeming resolution was required Committee tions acts Budget seeking to deliberately mislead the under the Budget Control Act. I filed a authority Outlays Budget authority Outlays public. The Budget Control Act was similar resolution for 2012 back in Sep- passed by the House of Representa- tember. The Budget Control Act is Agriculture, Nutri- tion, and Forestry 140,875 1.40,748 1,246,830 1,108,772 tives, it was passed by the Senate, and crystal clear that the spending limits Armed Services ...... 1,720,688 1,724,542 1,040 1,022 signed into law by the President. It is Banking, Housing, in the resolution should be set at the and Urban Affairs 229,617 ¥10,992 0 0 the law of the land, and it established levels agreed to in the Budget Control Commerce, Science, the key components of the budget for and Transpor- Act. tation ...... 168,316 118,271 18,930 18,302 2012 and 2013. Again, here is the language taken di- Energy and Natural Here is the language from the Budget Resources ...... 54,432 58,498 580 580 rectly from the law. It states: Environment and Control Act itself. It is very clear the Not later than April 15, 2012, the Chairman Public Works ...... 416,410 32,490 0 0 Budget Control Act is intended to serve of the Committee on the Budget shall file Finance ...... 17,071,487 17,063,729 8,604,008 3,603,595 Foreign Relations .... 227,925 238,279 1,590 1,590 as the budget for 2012 and 2013. It . . . for the Committee on Appropriations, Homeland Security states: committee allocations for fiscal years 2012 and Governmental and 2013 consistent with the discretionary Affairs ...... 1,183,459 1,146,352 94,635 94,635 For the purpose of enforcing the Congres- Judiciary ...... 112,276 114,750 9,087 9,109 sional Budget Act of 1974 through April 15, spending limits set forth in this Act. Health, Education, Labor, and Pen- 2012 . . . the allocations, aggregates, and lev- It doesn’t say at a level below the sions ...... 293,935 316,470 194,653 193,975 els set in subsection (b)(1) shall apply in the limits set forth in this Act, it says at

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00017 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.002 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1834 CONGRESSIONAL RECORD — SENATE March 20, 2012 a level consistent with the limits set Mr. PAUL. Mr. President, I rise of them is called First Solar. You may forth in this Act. today in opposition to corporate wel- have heard that a lot of these solar Let’s remember what these limits fare. At a time when our country is companies are big contributors to mean. Under the Budget Control Act borrowing over $1 trillion a year, I President Obama. I wonder if that has spending caps, discretionary spending think it makes no senses to loan something to do with them getting is cut by about $900 billion below the money to countries we are borrowing loans. But here is the loan First Solar CBO baseline over the next 10 years, from. For example, we borrowed $29 bil- gets from Export-Import. They get paid and that is not including the sequester lion from Mexico, and yet we are send- and they have a loan that says they are cuts. That is just the results of the ing them $8 billion of the money we going to make solar panels, and then Budget Control Act spending limits. borrowed from them to subsidize trade. who is going to buy the solar panels? Let me make clear, our House Repub- A lot of the subsidized trade goes to Themselves. So they made a deal with lican friends now seem to be walking very wealthy corporations. When 12 another company they own and the away from these levels, even though million people are out of work in the taxpayer is stuck financing a loan so they agreed to them last year. Let’s United States, does it make sense for First Solar can make solar panels and look at what they said last summer. the U.S. taxpayer to subsidize loans of then buy them from themselves. That Here is what House Budget Committee major multinational corporations? The sounds like a good deal. You get the Chairman RYAN said on the House floor President is big on saying, well, these government to subsidize a loan to buy on August 1: rich companies need to pay their fair your own product. What the Budget Control Act has done is it share. Well, why then is the President Who else are we subsidizing? We gave has brought our two parties together. So I sending loans out to these very $10 million in loans to Solyndra. You would just like to reflect for a moment that wealthy corporations? And he is actu- may have heard of Solyndra. Solyndra we have a bipartisan compromise here. That ally giving them their fair share of our is owned by the 20th richest man in the doesn’t happen all that often around here; so taxpayer money. Why is that occur- United States, who just happens to be a I think that’s worth noting. That’s a good ring? big contributor to President Obama. thing. And what are we doing? We are actu- I have often asked the question, Is ally cutting spending while we do this. Coincidence? I don’t know. That’s cultural. That’s significant. That’s a government inherently stupid? Well, Guess who works for the Department big step in the right direction. We are get- you know, I don’t think government is of Energy. Solyndra’s lawyer’s husband ting two-thirds of the cuts we wanted in our inherently stupid, but it is a debatable works for the Department of Energy, budget, and, as far as I am concerned, 66 per- question. Government doesn’t get the and he was apparently a big fan of cent in the right direction is a whole lot bet- same signals your local bank gets. these loans and a big fan of restruc- ter than going in the wrong direction. Your local bank has to look at your turing these loans. Do you think people So last summer our House Repub- creditworthiness. Your local bank has approving the loans should be related lican colleagues were pleased to be get- to make a profit. Your local bank has to the people getting the loans? ting 66 percent of what they wanted. to meet a payroll. But once the govern- Robert Kennedy, Jr., of the famous They made an agreement. They shook ment gets in charge of these things, Kennedy family, got $1.8 billion. Just on it. They ought to keep the agree- Katy-bar-the-door. We don’t have a so happens they are big political sup- ment they made. good track record with government porters of the President also. How did It seems that our House Republican banks because they do not feel deep in- they get the loan? Somebody who used friends are on their own, because at side the same pain that an individual to work for Kennedy now works in the least so far the Senate Republican banker feels when he gives a loan. loan department at the Department of leadership has agreed we should keep We have Fannie Mae and Freddie Energy. Sounds as though there might to the spending limits we took on last Mac losing $6 billion of your money a be a conflict of interest. year. Here is what Senate Minority quarter. And what do they want to do? This is a real problem. But this is a Leader MCCONNELL said on the floor They want to expand another govern- problem that is endemic to government last month: ment bank. So get this right. The banks. Once you let the government We have negotiated the top line for the dis- Fannie Mae and Freddie Mac that are get hold of the banks, and once you let cretionary spending for this coming fiscal government banks are losing $6 billion them make the loan decisions, they do year. . . . We already have that number. . . . a quarter, and recently they wanted to it and they give the money to their fa- There is no good reason for this institution give their executives multimillion dol- vorites. So when one party is in charge, not to move forward with an appropriations process that avoids what we have done so lar bonuses. They said, Well, you have their favorites get them; when the frequently under both parties for years and to pay people if you want to keep good other party is in charge, their favorites years: either continuing resolutions or omni- talent. My question is, How much tal- get them. bus appropriations. . . . I hope we can join ent does it take to lose $6 billion a The government shouldn’t be in this together and do the basic work of govern- quarter? I think there are people here business. These are large multinational ment this year and do it in a timely fashion. today watching the Senate who would corporations that can find loans for I hope so too. I hope our House Re- take $19 million a year to run one of themselves. Guess what. Sometimes publican colleagues are listening. We these government banks only to have they are loaning money to other gov- still must come together on a budget their record be that they lost $6 billion ernments that then compete with our plan that addresses the long-term fis- a quarter. That is outrageous. Then industry. We are loaning money to cal imbalances we confront, but the wanting to expand a new government India, to whom we also owe billions of short-term budget is in place and it is bank and give money to very wealthy dollars, but then India subsidizes an in law. It was included in the Budget corporations that are making a profit? airline that competes with U.S. air- Control Act that everyone agreed to It makes no sense whatsoever. lines. It doesn’t make any sense at all. last summer. It provided for about $900 Jefferson said government is best But we continue to do things that are billion in discretionary spending cuts. that governs least. What did he mean counterproductive, counterintuitive, at The Senate is now poised to proceed by that? He meant he wanted govern- taxpayers’ expense. Then we say, well, with its business. I have filed the budg- ment to be small because government to keep good talent, we have to pay et deeming resolution for 2013, and we is inherently inefficient. Government these guys millions of dollars to run will be moving forward with appropria- doesn’t get the same signals. That is these government banks. tions bills at the levels we all agreed why we should only let government do The problem is government banks to. I believe House Republicans should the things the private sector can’t do. don’t respond the way business does. do the same. If they fail to do so, they Banking is something the private sec- They respond in a fashion where they will once again threaten to shut down tor can do. We are not talking about do not feel the pain. No one loses their the government and needlessly imperil starting new companies, for the most job. No one loses a night’s sleep over a the economic recovery. part; we are mostly talking about sub- government loan. When a bank loans Mr. President, I thank my colleagues sidizing very wealthy multinational you money, someone has to make a for this time, and I yield the floor. companies. profit and meet a payroll. It is dif- The PRESIDING OFFICER. The Sen- But let’s look at the companies the ferent. You have the checks and bal- ator from Kentucky. Export-Import Bank is subsidizing. One ances of the marketplace. You don’t

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00018 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.033 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1835 need to have the government involved frighten investors out of the market. amount of concern among market ex- here. They are asking us, they are pleading perts tells us, this JOBS Act—this so- There are a couple questions we with us to reevaluate, and we should. called JOBS Act is not a jobs act but should ask before doing what the other Next, take a look at the letter from an invitation to the kind of fraud that side wants to do. They want to expand the current SEC Chairman Mary destroys jobs. the size of this corporate welfare. They Schapiro to the Banking Committee The Senate is the place where care want more corporate welfare going out last week. Chairman Schapiro issues a and deliberation is supposed to rule to multinational corporations. In doing lengthy list of warnings about provi- and is supposed to rein in the excesses so, they want you, the taxpayer, to be sions in the House bill. She sums up of haste and incaution, and I urge my on the hook for more money. her warnings this way: ‘‘If the balances colleagues to undertake that responsi- I would say we have to ask some tip to the point where investors are not bility today. questions. Should we be dispensing confident that there are appropriate I yield the floor and I suggest the ab- loans based on political favoritism? protections, investors will lose con- sence of a quorum. Should it matter if one is a big contrib- fidence in our markets and capital for- The PRESIDING OFFICER. The utor to the President? Should that mation will ultimately be made more clerk will call the roll. matter in getting a loan? No. I think difficult and expensive.’’ The assistant bill clerk proceeded to that ought to be illegal. If it is not im- That is precisely the opposite of the call the roll. moral, it ought to be. It is immoral. It impact we should want. Mr. SESSIONS. Mr. President, I ask should be illegal. We shouldn’t be doing We should listen to the American In- unanimous consent that the order for that. stitute of Certified Public Account- the quorum call be rescinded. Then the other question is, does it ants, which warns us that the House The PRESIDING OFFICER (Mr. make sense to borrow billions of dol- bill ‘‘would create marketplace and in- FRANKEN). Without objection, it is so lars first from China or India and then vestor confusion’’ that dampens rather ordered. send it back to them to say: Please, than strengthens investment in grow- Mr. SESSIONS. Mr. President, I ask buy our products with it. So we borrow ing companies. unanimous consent to speak as in the money from them, and then we We should listen to the association morning business for 10 minutes. send it back to the very same coun- that represents State securities admin- The PRESIDING OFFICER. Without tries. It makes utterly no sense. I ask istrators. What does that association objection, it is so ordered. the Senate to consider seriously wheth- do? They warn us that ‘‘Congress is on THE BUDGET er, at a time we are running a $1 tril- the verge of enacting policies that al- Mr. SESSIONS. Mr. President, I was lion deficit, it makes sense to be sub- though intended to strengthen the a bit surprised—although one is never sidizing profitable, large multinational economy, will in fact only make it totally surprised in this body—when corporations. I don’t think so, and I more difficult for small businesses to my Democratic colleagues were saying don’t think the taxpayer thinks so. access investment capital.’’ this morning that something bad has I yield back the balance of my time. We should listen to the editors of happened because the historic budget The PRESIDING OFFICER. The Sen- Bloomberg News, one of the most that would change the debt course of ator from Michigan. trusted sources of commentary on the America, that has been announced by Mr. LEVIN. Mr. President, over the markets, who tell us that provisions of Congressman PAUL RYAN and his House last several days there has been an im- the House bill ‘‘would be dangerous for Budget Committee today, violates the mense outpouring of concern about the investors and could harm already frag- Budget Control Act. It spends a few bil- so-called JOBS bill the House has sent ile financial markets.’’ lion dollars less than what was capped to us, and this outpouring should weigh Can any of us who have lived through in the Budget Control Act. The Budget upon us. It should make us question the fearful days of the financial crisis, Control Act that passed put a cap on the speed and the lack of deliberation days when we wondered if the entire the roughly $1 trillion of discretionary with which we are considering this economy would crumble—can any of us spending only. And from that $1 tril- House bill and question the wisdom of or should any of us vote to rush lion-plus cap, the House would reduce just sending it back to the House if through this body legislation that spending by $19 billion in the proposed there is one amendment to it, which is threatens harm to fragile financial budget today, and this somehow vio- on the Ex-Im Bank, and hoping that markets? Do we want to live through lates good spirit around here and is the somehow or another investors are that again? wrong thing. But I would just say that going to be protected in a conference We should amend this flawed House when the Budget Control Act passed in instead of by the Senate. What we are bill so we can create opportunity for the wee hours of the morning at the considering should be done with great American workers, companies and in- eleventh hour and the 59th minute be- deliberation, and we should take the vestors and not opportunities for fore a government shutdown occurred, time to get this right. fraudsters, boiler room hucksters, and we knew it wasn’t enough of a reduc- The House majority leader suggested con artists. We can do that, and we tion in spending. It wasn’t half of what yesterday that those of us who are con- should do that. One way to do that is experts have told us needs to be re- cerned about the House bill are ‘‘cre- to invoke cloture on the alternative duced over the next 10 years to put ating phantom investor protection that Senators JACK REED, MARY LAN- America on a sound debt path. issues.’’ We did not create these issues. DRIEU and I have offered and to begin We are on a disastrous debt path. We People who know far more about cap- debate and amendments on that alter- are heading to the most predictable fi- ital markets than the House majority native so the Senate’s deliberative nancial crisis this Nation has ever leader or myself or probably any of us process can begin. faced because we are spending 40 cents have asked us to reconsider what we If that cloture vote fails, the only re- per dollar more than we have. We are are poised to do. maining prudent alternative is to re- borrowing 40 cents of every dollar we Start with the Council of Institu- ject the cloture motion on the under- spend—borrowing it—just to maintain tional Investors. This group’s members lying bill so the Senate can begin to this level of spending. invest a combined $3 trillion in our Na- deliberate and consider amendments to So the House made some changes or tion’s capital markets. They include a bill that has aroused such concern made a proposal to reduce the spending the Nation’s largest pension funds, uni- among so many experts whose very job level below the Budget Control Act, versity endowments, and foundations. it is to protect consumers. and they also recognized that the $1 The Council of Institutional Investors, Some may fear that by slowing a trillion or so in spending that was cov- an outside, independent, objective runaway train, they risk being por- ered by the Budget Control Act—and group whose sole purpose in life is to trayed as hostile to job creation or to that is the discretionary spending—is make sure investors are given sound small businesses. After all, how can we only a little over 40 percent of total opportunities and are not defrauded, is oppose legislation titled the ‘‘JOBS spending. Over half of the spending is warning us that rather than boosting Act’’? It takes more than a clever acro- in the entitlement mandatory spending investment in our economy, we could nym to create jobs. As the astonishing category. They proposed really nothing

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00019 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.034 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1836 CONGRESSIONAL RECORD — SENATE March 20, 2012 under the Budget Control Act to make systemic debt threat this Nation has into the summer, trying to deal with a any changes. ever faced, and they knew it, and they financial systemic threat to America So the Ryan budget proposed to proposed last year and again this year that Admiral Mullen calls the greatest spend next year $180 billion less than a historic budget that would alter the threat to our national security—our the President’s budget proposed that debt course we are on. It would take us debt. We have done nothing about it. he submitted earlier this year. And did from unsustainability to sustain- The House has. The Republican leader- the President’s budget adhere to the ability. It would take us on a path that ship in the House has done their duty. BCA? My colleagues say, oh, they are we would hope avoids a debt crisis, al- They produced a courageous, thought- mostly disheartened that Republicans though we are so close to it, I am not ful, responsible debt course change would take the spending down below sure we can avoid it. Hopefully, we can that will put us on the road to pros- the level by about $19 billion or so avoid a debt crisis, but our debt is tre- perity, not decline. Their budget in- under the Budget Control Act numbers. mendous. Our individual, per capita cludes tax simplifications and tax re- But I didn’t hear them complaining debt is $44,000 per man, woman, and ductions even, while they are doubling when President Obama submitted his child—greater than any country in Eu- the amount of savings President budget. rope and greater than Greece. We are Obama achieves. The House budget, al- Do my colleagues know what the in the danger zone; clearly, we are. though it doesn’t balance in 10 years— President’s budget did? It wiped out So they proposed this budget last and I wish it did, but it doesn’t balance over half of the spending cuts in the year and again this year, and it laid in 10 years—adds half the debt in the Budget Control Act. Can my colleagues out a plan. So what happened? The next 10 years that President Obama’s imagine that? We agreed on $2.1 tril- President of the United States calls budget proposes. It cuts it more than lion in spending reductions, and $1 tril- out Congressman RYAN and castigates half. It puts us on a path. And in the lion of that was voted on explicitly, him in a speech, and he is sitting right outyears, it is even more positive in its and $1.2 trillion was an automatic se- in front of him. The Senate Democrats, effect and clearly takes us out of this quester or an automatic cut in spend- who haven’t produced a budget in 3 disastrous course we are on. So they ing if the committee didn’t reach a years because they are afraid to, be- should be congratulated for being hon- cause they don’t have the courage to long-term agreement. The committee est and detailed. lay out the tough choices that are didn’t reach an agreement, so auto- Speaking of details, why don’t we see going to be necessary to save this Re- matically $1.2 trillion in cuts was to be the Democratic Members of this Sen- public financially, attacked Congress- imposed. That is the current law. ate lay out their budget plan? man RYAN and his House Members for President Obama’s budget wipes it out. Last year, Senator REID called up the trying to do the right thing. It is unbe- Not only does he add, therefore, $1.2 House budget so all could vote against lievable to me. I am just amazed. Now trillion immediately to spending as a it. So Senator MCCONNELL called up we have them complaining that he goes result of wiping out the sequester we the President’s budget. Every Demo- a little below the Budget Control Act agreed on just last August, he adds an- cratic Member voted against that. Sen- numbers. Give me a break. other $500 billion in spending. His budg- ator TOOMEY’s thoughtful budget—— Does anybody not know what is going The PRESIDING OFFICER. The Sen- et he submitted just a few weeks ago on here? The American people do. They ator has used 11 minutes. calls for spending increases of $1.6 tril- gave a shellacking to a lot of the big Mr. SESSIONS. Mr. President, I ask lion more than was in the Budget Con- spenders in the last election. Surely we unanimous consent to speak for 1 addi- trol Act. would have thought Congress got the tional minute. So my good friend Senator CONRAD, message. The House did. Apparently, The PRESIDING OFFICER. Without who chairs the Budget Committee, and the Senators have not. objection, it is so ordered. our Democratic leadership, who are Senator REID, our majority leader, Mr. SESSIONS. The net result was threatening a government shutdown said it would be foolish to have a budg- that the President’s plan was brought because Congressman RYAN and the re- et. Foolish to have a budget? The law up, and voted down 97 to nothing. All sponsible House Budget Committee requires us to have a budget. By April Democrats voted against the Toomey proposed actually taking a few more 1, we should have one in the com- plan. All of them voted against the billion dollars out of discretionary mittee. We are not going to be meeting House plan. They voted against every- spending, want to complain about that. before then. We should have one pass thing. Not one plan did they produce I didn’t hear them complaining when both Houses by April 15. That is the that they voted for. That is the course we had the most astounding event after law. It is in the United States Code. we are on today. I do not think that is the President signed the Budget Con- Unfortunately, I guess, we don’t go to a plan and a policy you can be proud of. trol Act that passed both Houses at the jail as a result of not passing one be- I think it is unworthy of a party giving eleventh hour: a compromise agree- cause we haven’t passed one here for 3 leadership in the Senate at this critical ment—a compromise we all knew was consecutive years. We haven’t passed a time in history. not sufficient. And 5 months later, be- budget in 3 years. I thank the Presiding Officer and fore the ink is hardly dry on it, he pro- Senator REID said it is foolish to pass yield the floor. poses to wipe it out. a budget. Why? I think he meant politi- The PRESIDING OFFICER. The Sen- No wonder the American people don’t cally. It would be foolish for him to ator from Louisiana. trust Congress. We say in August: We allow a budget to come to the floor GASOLINE PRICES are going to save $2.1 trillion—trust where there is free debate, an oppor- Mr. VITTER. Mr. President, I have us—and we are going to raise the debt tunity to offer amendments in large returned to the Senate floor today to ceiling so America can continue to bor- numbers, and actually debate the chal- talk about what is a true crisis for row at this extraordinary rate, but we lenges and vote on them. Senators—in many Louisianans, many Americans, are going to cut spending. We are going public; not in secret meetings but in which is the ever-rising price of gaso- to raise the debt ceiling, but don’t public—actually vote on these issues line at the pump. This hits everybody worry, we promise to cut spending. And that are important to America and in their tough pocketbook in a horrible the President of the United States, held accountable, and the American economy. It is a true crisis for many within 5 months of that agreement people can see how tough the choices American families all around the coun- being reached, submits to us a budget are because the choices are tough. It is try. that wipes out half of it. I am amazed not going to be easy to balance this In this debate—and it has been a sig- that nobody has been talking about it. budget. I am telling my colleagues, I nificant national debate—a lot of Re- I have tried to raise the issue. It just have seen the numbers. I am ranking publicans say: Well, President Obama points out to me how silly it is that Republican on the Budget Committee, does not have a plan, does not have a our colleagues in the Senate would and I have sat down with my staff, and policy to address the price at the complain about Congressman RYAN. I wish I could say it would be easier pump. A lot of supporters of President The American people gave Repub- than it is. It is not going to be easy. Obama say: Well, no President can licans a majority in the House of Rep- So this is a frustrating moment. I am have a significant impact, can deter- resentatives. We are facing the most not really surprised. Here we are, going mine the price at the pump.

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00020 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.038 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1837 I think both of those statements are 1979, it was called the windfall profits This purple, as shown on this chart, equally wrong. I think the President, tax. You may remember that debate. is what was promised. This purple is this administration, does have a policy. Well, that was actually enacted here in the increase in revenue that was prom- They have made specific proposals and Congress, here in Washington—the ised and projected by President Carter. it would, if we enact it, have a signifi- Crude Oil Windfall Profits Tax Act. It This gray, as shown on the chart, is cant impact on the price at the pump. was passed back then, and it went into what happened. Sure, there was an im- It would just be the wrong sort of im- effect on April 2, 1980. Again, the same mediate spike. Then guess what. Do- pact. It would drive the price even arguments, the same policy: Somehow mestic energy producers reacted. They higher than it is now, not help Amer- the tax treatment of these companies did less activity here. If you tax some- ican families by stabilizing that price. is unfair. Somehow they are not paying thing more, you get less of it, we are I want to focus on one very specific, their fair share—even though the facts more dependent on foreign sources, we clearly laid out policy of President show otherwise—so we are going to in- drive out that activity—those jobs and Obama, and that is to increase taxes on crease the tax on those domestic en- that revenue. So there was a steady de- oil and gas and energy producers—in- ergy producers. cline, until it was actually zero net ad- crease taxes on that product, which I Well, what happened? The first thing ditional revenue in 1987, leading to the think clearly is going to only drive up that happened was the price at the repeal in 1988. the price at the pump. pump went up. It went up significantly So I would hope, when we look at President Obama has advocated this for several years. There was a lot going this proposal—I would hope first we very consistently for a long time. He on in the world at the same time. I focus on the American people, we focus advocated it as a Senator. He laid it know folks will point to developments on their plight every time they go to out as a central plank of his energy in the Middle East and everything else. fill up their gas tank, with these ever- But that is what happened imme- policy when he was originally running increasing prices, and our top goal is to diately following the enactment of that for President in 2008. He has fought for give them relief. it ever since, including it in every law. The price went up by about 50 per- Increasing taxes on that product, in- budget submission to Congress. He has cent and stayed there for several years. creasing taxes on domestic producers But let’s look at other factors. You always advocated increasing taxes on of energy, is not going to give them re- can argue about the impact of politics domestic oil and gas energy producers. lief. It is going to do exactly the oppo- and developments in the Middle East To underscore this point, one of the site. Every rule of economics says that. on price. What about things that President’s biggest supporters in the If you tax something more, you get less should not be so impacted by develop- Senate, Senator MENENDEZ, has intro- of it, you increase the price in the mar- ments in the Middle East? What about duced this concept in the Senate. Yes- things such as domestic production and ket. History proves that—a very clear terday, Senator MENENDEZ introduced whether that increased or decreased? lesson from the Carter years that some the Repeal Big Oil Tax Subsidies Act, Well, in fact, as a direct result of the folks on this Senate floor, President which, again, does exactly the same windfall profits tax, domestic oil and Obama, and others, want to repeat. thing as the President has long advo- gas production, energy production, This is not good policy if we truly want cated. It increases taxes on that prod- went down over that entire period from to help the American people with their uct. It increases taxes on those domes- between 3 percent to 6 percent. If you everyday struggle with the price at the tic producers. look at the entire period of the tax, it pump. I think the American people get it. I think what is going on is a com- went down. We can argue about fairness. We can In this debate, everyone at least has pletely different agenda. Folks are so argue about other considerations. But paid lip service to the idea that we set against fossil fuel, folks want to ad- in terms of the impact this is going to should be producing more energy here vantage new forms of energy so much have on the price at the pump, I think at home. Yet in this historical exam- that they are willing to resort to actu- the American people get it. It is eco- ple, in this experiment, increasing the ally increasing the price at the pump nomics 101: If you tax something more, tax on this product did what you would to do it. That is exactly what Sec- you tend to drive the price up in the expect it to do, again from economics retary of Energy Chu advocated in late market, and you decrease supply. 101: It decreased that activity here at 2008 right before he was appointed to Again, that is economics 101. home. It decreased domestic produc- his present position. Let’s not do that. I could talk about the true facts of tion. The American people cannot afford it. this with regard to energy companies— What else did it do? Well, the second They need relief. They need it now. the fact that they pay an effective tax big impact it had was it increased our An American President can make a rate of about 41 percent, the fact that dependence on foreign oil. Again, you difference. Unfortunately, this one has they account for enough revenue to can connect the dots. This is exactly a policy that would make a difference cover 10 percent of our entire discre- what you would expect. If you increase in the wrong direction. Taxing some- tionary budget, that they are not taxes on domestic production, you de- thing more increases the price, pro- undertaxed at all by any reasonable crease that supply, and guess what. We duces less of it. We need to be doing the comparison. But I am not going to are even more dependent on those un- opposite. We need to be increasing do- focus on that because, quite frankly, I stable foreign sources we want to get mestic supply, bringing down the price, do not care about the direct impact on away from. That is exactly what hap- helping the American people in their the companies. I care about the direct pened in the Jimmy Carter experiment. everyday struggles with their family impact on Louisianans, on Americans, He passed the windfall profits tax, and budgets, with how to manage their on consumers, on what so many low or during the entire tenure of that tax, scant resources in a very tough econ- middle-class families are dealing with dependence on foreign oil increased sig- omy. right now—that real crisis I talked nificantly—between 8 percent and 16 I yield the floor. about that you face every time you go percent. The PRESIDING OFFICER. The Sen- to fill up your car; that is, the burden Then something that might be a lit- ator from Washington. of skyrocketing prices at the pump. tle less obvious is the impact on rev- AMENDMENT NO. 1836 That is what we should all be con- enue. There were enormous promises Ms. CANTWELL. Mr. President, I cerned about. As I said, I think it is made about the revenue this windfall rise to talk about the Cantwell-John- pretty obvious, it is economics 101, profits tax would bring in. Well, at the son-Graham-Shelby amendment that is that if you tax something more, the beginning it did have that impact, but going to be voted on shortly in this se- price at the pump, the price in the guess what. Over time that impact de- ries of votes we are going to be having, market goes up, and you get less of it. clined enormously, down to actually a and to urge my colleagues to support But even if that were not so obvious, zero net revenue increase by 1987. The this important amendment that would we have history to look at. There is a tax was eventually repealed in 1988, but reauthorize the Ex-Im Bank for 4 very clear history lesson from the Car- this impact on revenue went down to years, until 2015. The current author- ter years, when this same experiment zero before that repeal, not because of ization is set to expire in May of this was actually enacted. Back then, in the repeal. It went back to zero in 1987. year, so it is very urgent we pass this

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00021 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.040 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1838 CONGRESSIONAL RECORD — SENATE March 20, 2012 authorization. It would increase capac- As an added bonus, as I said, it is try is going to get a member of the Ex- ity for the bank because there is de- generating revenue to the U.S. econ- port-Import Bank. That is to further mand. omy. In fact, it has generated a lot of help export products from places such The Ex-Im Bank, people may know— money, $3.7 billion for U.S. taxpayers as North Carolina and South Carolina or maybe not know—supplies credit since 2005. I know some of my col- get access to the marketplace and to stability to foreign purchases of U.S. leagues on the other side of the aisle make sure they are being competitive product, where the purchaser has lim- think the program could have more on an international basis. ited access to private sector capital transparency. I will vote for more The last chart, Ohio, which is over due to political risk or instability or transparency for the Ex-Im Bank. But $398 million and 2,888 jobs. So all these limited access to capital. It is some- if one of my colleagues can figure out are important jobs for our economy. As thing we have had since 1934. So this with more transparency how to get I said earlier, this program is expiring program has been a way for U.S. manu- more than $3.7 billion to the U.S. in May. If we fail to reauthorize it now, facturers, small businesses, a variety of Treasury out of a government program, what we are going to run into is the U.S. companies, to make sure they get I would love to hear about it because Export Bank cutting off those types of sales of their products in international this is a program that has worked suc- businesses, those types of jobs in the markets. It has been an incredibly im- cessfully. very near future because they are al- portant tool. Somebody called it one of Let’s talk about some of the places most at their capacity for this year. So the most important toolboxes in U.S. these jobs were created; I mean, actu- instead of saying: Washington or Flor- economic capacity to help our econ- ally supported and helped sustain. In ida products or Ohio products or Penn- omy. Pennsylvania, in 2011, $1.4 billion in ex- sylvania products ready for sale, basi- In 2011, the bank supported over $41 port products were helped to be pur- billion in U.S. exports from over 3,600 cally what we are going to say is: U.S. chased by the Ex-Im Bank and sup- products in a warehouse waiting for op- U.S. companies, and it has supported ported over 9,000 jobs in the State. So nearly 290,000 export-related jobs in portunity. there is help and support for those America. So that is a very big impact. We are basically going to say the small businesses, those manufacturers According to the Congressional Budget door is shut on selling these products in Pennsylvania that want to access Office, the reauthorization of this pro- because we have not gotten our job international markets, but there are gram will help reduce the deficit by done in making sure the export pro- purchasers, just like with the SBA pro- over $900 million over the next 5 years. gram is reauthorized. I hope my col- gram or other finance programs that That is right, a program that is run by leagues will realize that around here needed help and support in getting the the government that actually helps our very few things are getting done very financing done. deficit be reduced, and that is because efficiently. There are lots of things Let’s look at Massachusetts, another of the amount of money that is made being held up, and the U.S. economy is robust State: $566 million in exports in from these transactions and returned paying the price for it. If we cannot 2011. That was over 4,000 jobs supported to the Treasury. push something such as the Ex-Im I wish to thank my colleagues: Sen- through this Ex-Im program. In my Bank through this process that again State there are many jobs. We can see ators JOHNSON, GRAHAM, SHELBY, WAR- has been authorized and reauthorized from looking at the list of the compa- NER, SCHUMER, BROWN, HAGAN, COONS, so many times either by unanimous nies that got support through this, we AKAKA, MURRAY, LANDRIEU, KERRY, consent or voice vote and all of a sud- have—obviously, aviation has done KIRK, DURBIN, SHAHEEN, MCCASKILL, den we are going to turn it into a polit- LIEBERMAN, and CASEY for all spon- very well with having this kind of fi- ical football, then the American econ- soring this important amendment. nancing, particularly competing in a omy is going to pay the price for that. The reason we are out here is to big global market where other coun- I urge my colleagues to help us get make sure our colleagues know this is tries have this kind of financing tool. this Cantwell-Johnson-Graham-Shelby But we also have a lot of small busi- the 25th time this legislation has been amendment passed out of the Senate nesses. We have clean tech, we have ag- up for extension since the original Ex- today and on its way to the House so riculture, we have a lot of different ecutive order establishing it. I am we can expedite the process of making companies. Texas, probably another looking at the record: 1983, passed by sure we do not have a sign across State that has been a huge winner in voice vote on the reauthorization; America: ‘‘U.S. products stuck in ware- having the Ex-Im program, 35,000 jobs passed by unanimous consent in 1992— house’’ but instead we have a sign that supported by the Ex-Im Bank in Texas passed by unanimous consent many of says: ‘‘U.S. exports on the gain. United and almost $5 billion—$4.9 billion in the times. States making great headway and sell- business that was the done in the State Here is a program that over the last ing great products and services around of Texas through this program. several decades has been passed by the globe.’’ unanimous consent. Yet all of a sudden So my colleagues can see this is a I know my colleagues earlier today this legislation is being stalled or held very viable and important program to were saying: There are some things up. What I want to make sure my col- get reauthorized. I know some people people want to change. The amend- leagues know is what an important think we ought to hold it up, and some ments people want to offer in this leg- tool it is for job creation and why it is are saying let’s stop the program alto- islation are from people who want to so important that we not take the cap- gether—stop it and get rid of it, even stop this program. This legislation has ital that is left over in the Ex-Im pro- though it has been around, it has been gram and delay it because what is a tool, it has been authorized many transparency. It has improvements going to happen if we do not get this times on unanimous consent. But now that have been recommended on mar- reauthorization done right away is all of a sudden some people think this ket-based rates, and it puts the United that they are going to stop the activity program has not served the American States in a competitive advantage to that is actually helping job creation in public and the American job economy make sure we are competing in a world the United States. very well. in which export market opportunity As we can see in 2011, the total num- I would differ with them. It has has grown something like 500 times in ber of jobs it helped support was nearly served us very well. Another example is the last 25 years. 300,000 jobs. That is a pretty good im- Florida. It has, in 2011, helped support If we want to be in the jobs game, we pact by basically saying, as a program $1.1 billion of Florida products sold in have to get our products overseas. The of a financing of last resort, the United international markets and helped sup- Ex-Im Bank will continue to help us do States is going to make sure U.S. com- port over 7,600 jobs in that State— that. I urge my colleagues to support panies can get their products sold in again, a big boost to that economy. the Cantwell-Johnson-Graham-Shelby various marketplaces. That is why the Let’s look at North Carolina. It has amendment. chamber of commerce, the National helped support over 3,300 jobs and over Mr. WHITEHOUSE. I wish to express Association of Manufacturers, many $456 million in exports. What I also like deep concerns about the so-called JOBS companies and organizations are sup- about this is that for the first time Act sent to us by the House and to porting this legislation. with this legislation, the textile indus- commend my senior Senator JACK

VerDate Mar 15 2010 00:22 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00022 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.041 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1839 REED and Senators LEVIN and LAN- astation that financial fraud can inflict The PRESIDING OFFICER. The clo- DRIEU for putting forth a balanced and on a family, and I have seen how un- ture motion having been presented thoughtful alternative. scrupulous con men, stock jobbers, under rule XXII, the Chair directs the Everyone in this body agrees that fraudsters, and boiler room operators clerk to read the motion. Washington should be doing as much as can be. It is worth it to take the trou- The bill clerk read as follows: it can to create jobs for middle-class ble to protect against the crooks who CLOTURE MOTION Americans. But if the financial crisis could take advantage of the loopholes We, the undersigned Senators, in accord- of 2008 taught us anything, it is that this bill leaves to exploit innocent vic- ance with the provisions of rule XXII of the smart regulation of our capital mar- tims. I urge my colleagues to support Standing Rules of the Senate, hereby move kets is a key element of sustained eco- the Reed-Levin-Landrieu alternative to bring to a close debate on the Reid motion nomic growth. and to oppose the House-passed bill. I to concur in the House amendment to S. 2038, Unfortunately, this legislation would thank the Chair, and I yield the floor. the Stop Trading on Congressional Knowl- eliminate key investor protections and The PRESIDING OFFICER. The ma- edge Act. allow for fraud and abuse to flourish in jority leader. Harry Reid, Jeff Bingaman, Daniel K. Inouye, Joseph I. Lieberman, Tim a shadowy world of unregistered securi- f Johnson, Daniel K. Akaka, Richard J. ties. According to John Coates and Bob STOP TRADING ON CONGRES- Durbin, Charles E. Schumer, John Bar- Pozen of the Harvard Law and Business SIONAL KNOWLEDGE ACT OF 2012 rasso, Scott P. Brown, Mitch McCon- Schools, respectively, the House bill nell, Jon Kyl, Richard C. Shelby, Rob ‘‘could spur more shady deals than new Mr. REID. Mr. President, as the Sen- Portman, John Cornyn, John Hoeven, jobs.’’ John Coffee of Columbia Law ate is aware, there are differences be- Marco Rubio, Lisa Murkowski, Jeff School has called it the ‘‘the boiler tween the Senate and the House work Sessions, Mike Johanns, Tom Coburn, room legalization act’’—a reference to product on the STOCK Act. This legis- Susan M. Collins brokerage operations that profit from lation limits insider trading by Mem- MOTION TO CONCUR WITH AMENDMENT NO. 1940 bers of Congress. It certainly would unloading questionable securities on Mr. REID. Mr. President, I move to have been my preference to work out unsuspecting and inexperienced inves- concur in the House amendment to S. these differences between the two tors. 2038, with an amendment. Over the past few days, opposition to Houses through a conference com- The PRESIDING OFFICER. The the House bill has extended far beyond mittee. I know that is the preference of clerk will report. economists, with investor and con- the Republican leader. That is the The bill clerk read as follows: usual practice. sumer protection groups, ranging from The Senator from Nevada [Mr. REID] moves But we have been advised there the Council of Institutional Investors to concur in the House amendment to S. 2038 would be objection to going to con- and the North American Securities Ad- with an amendment numbered 1940. ference by consent. I have tried it and ministrators Association to the AARP The amendment is as follows: tried it and we cannot break through and Consumer Federation of America, that. That means it would take filing At the end, add the following new section: calling for substantial changes. These and adopting three separate cloture SEC. ll. groups have encouraged the Senate to motions over the course of weeks to This Act shall become effective 5 days reexamine many of the House bill’s get to conference; that is, if we can be after enactment. provisions, including ones that would: successful on the first two. So we need Mr. REID. Mr. President, I ask for allow unregulated Web sites to sell un- to address this issue more quickly be- the yeas and nays on my motion. registered stock to middle-class inves- cause otherwise we do not address it at The PRESIDING OFFICER. Is there a tors; permit stock brokers to advertise all, and we need to address it. sufficient second? risky private offerings on billboards As a consequence, I am going to file There is a sufficient second. and in cold calls to seniors homes; and cloture in the motion to concur with The yeas and nays were ordered. strip away the corporate governance the House bill on the STOCK Act. It is AMENDMENT NO. 1941 TO AMENDMENT NO. 1940 and executive compensation trans- my hope we can resolve this matter ex- Mr. REID. Mr. President, I have a parency requirements that we worked peditiously, and I hope we can thereby second-degree amendment at the desk. so hard to pass in the 2010 Wall Street make clear Congress’s intent to pro- The PRESIDING OFFICER. The reform bill. hibit insider trading by Members of clerk will report the amendment. Senators JACK REED, CARL LEVIN, Congress. The bill clerk read as follows: and MARY LANDRIEU have worked I now ask the Chair to lay before the around the clock to produce an alter- The Senator from Nevada [Mr. REID] pro- Senate a message from the House with poses an amendment numbered 1941 to native that maintains key investor respect to S. 2038. amendment No. 1940. protections. I commend them for their The PRESIDING OFFICER. The The amendment is as follows: work, and am proud to cosponsor their Chair lays before the Senate the fol- substitute amendment. I hope we can lowing message from the House, which In the amendment, strike ‘‘5 days’’ and in- use this amendment as a starting point the clerk will report. sert ‘‘4 days’’. to negotiate a compromise final bill— The bill clerk read as follows: MOTION TO REFER WITH AMENDMENT NO. 1942 one which achieves the goal of making Resolved, that the bill from the Senate (S. Mr. REID. Mr. President, I have a capital more accessible to small start- 2038) entitled ‘‘An Act to prohibit Members motion to refer the House message to ups, without making the markets of Congress and employees of Congress from the Committee on Homeland Security riskier for average investors. If we do using nonpublic information derived from and Governmental Affairs with instruc- their official positions for personal benefit, not take the time to get this important tions to report back forthwith with an and for other purposes,’’ do pass with an amendment. bill right, I fear we will live to regret amendment. The PRESIDING OFFICER. The our haste. (The amendment is printed in the SEC Chairman Mary Schapiro framed clerk will report. Proceedings of the House on February well the dangers of undercutting secu- The bill clerk read as follows: 9, 2012.) rities regulations when she warned, ‘‘if Mr. REID. Mr. President, I move to The Senator from Nevada [Mr. REID] moves the balance is tipped to the point concur in the House amendment to S. to refer the House message on S. 2038 to the Committee on Homeland Security and Gov- where investors are not confident there 2038. are appropriate protections, investors ernmental Affairs with an amendment num- I ask for the yeas and nays on that bered 1942. will lose confidence in our markets, motion. and capital formation will ultimately The PRESIDING OFFICER. Is there a The amendment is as follows: be made more difficult and expensive.’’ sufficient second? At the end, add the following new section: Let’s pass a capital formation bill that There is a sufficient second. SEC. ll. strikes the right balance between cap- The yeas and nays were ordered. This Act shall become effective 3 days ital formation and investor protec- CLOTURE MOTION after enactment. tions. In my time as U.S. Attorney and Mr. REID. I have a cloture motion at Mr. REID. Mr. President, I ask for Attorney General, I have seen the dev- the desk. the yeas and nays.

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00023 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.029 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1840 CONGRESSIONAL RECORD — SENATE March 20, 2012 The PRESIDING OFFICER. Is there a House, and we agree there should be an This bill has flown out of the House. sufficient second? increase in the limit from $5 million to Even BARNEY FRANK said what we are There is a sufficient second. $50 million. But we have made improve- doing in the Senate, by slowing it down The yeas and nays were ordered. ments. For example, the House bill will and amending it, is the right thing. So AMENDMENT NO. 1943 allow people to solicit these securities I urge my colleagues to give our sub- Mr. REID. Mr. President, I have an under regulation A without audited fi- stitute a chance. They can vote yes on amendment to my instructions which nancials. I think at a minimum the in- Senator CANTWELL’s amendment, and has also been filed at the desk. vesting public should have some au- vote no on cloture to the House bill so The PRESIDING OFFICER. The dited financials to rely upon. we can continue this important debate clerk will report. We have taken provisions with re- in the Senate. The bill clerk read as follows: spect to the ability to go dark—the CLOTURE MOTION The Senator from Nevada [Mr. REID] pro- ability to stop reporting if you have The PRESIDING OFFICER. The clo- poses an amendment numbered 1943 to the 2,000 or less record owners—and we ture motion having been presented instructions of the motion to refer the House have raised the limit from the existing under rule XXII, the Chair directs the message on S. 2038. 1 to 750 beneficial owners. But we clerk to read the motion. The amendment is as follows: haven’t opened it broadly so that large The bill clerk read as follows: In the amendment, strike ‘‘3 days’’ and in- well-known companies could suddenly CLOTURE MOTION stop reporting their financial informa- sert ‘‘2 days’’. We, the undersigned Senators, in accord- Mr. REID. Mr. President, I ask for tion on a routine basis. ance with the provisions of rule XXII of the the yeas and nays. We have looked at the reg D offerings Standing Rules of the Senate, hereby move The PRESIDING OFFICER. Is there a in terms of a private offering versus a to bring to a close debate on the substitute sufficient second? public offering, and we have given the amendment No. 1833 to H.R. 3606, an Act to There is a sufficient second. Securities and Exchange Commission increase American job creation and eco- nomic growth by improving access to the The yeas and nays were ordered. the ability, in this age of the Internet and of Twitter, to make adjustments so public capital markets for emerging growth AMENDMENT NO. 1944 TO AMENDMENT NO. 1943 that a private offering under reg D companies. Mr. REID. Mr. President, I have a Harry Reid, Mary L. Landrieu, Ben Nel- would not be compromised because it second-degree amendment to my in- son, Carl Levin, Jon Tester, Mark gets into the media through Twitter, et structions which is also at the desk. Begich, Patty Murray, Mark R. War- cetera. But we haven’t opened it to The PRESIDING OFFICER. The ner, Christopher A. Coons, Robert general solicitation, as the House bill Menendez, Thomas R. Carper, Joseph I. clerk will report. does. Lieberman, Debbie Stabenow, Robert The bill clerk read as follows: By the way, our bill actually tries to P. Casey, Jr., Jeanne Shaheen, Tom The Senator from Nevada [Mr. REID] pro- create jobs, not just opportunities to Udall, Jim Webb, Barbara Boxer. poses an amendment numbered 1944 to The PRESIDING OFFICER. By unan- amendment No. 1943. raise funds through Wall Street. With Senator LANDRIEU’s help, we have imous consent, the mandatory quorum The amendment is as follows: strong small business provisions in call has been waived. In the amendment, strike ‘‘2 days’’ and in- there. We include the Ex-Im Bank pro- The question is, Is it the sense of the sert ‘‘1 day’’. visions of Senator CANTWELL. We Senate that debate on amendment No. Mr. REID. Mr. President, I ask unan- worked very closely with Senators 1833 to H.R. 3606, an act to increase imous consent that the mandatory MERKLEY, BENNET, and BROWN of Mas- American job creation and economic quorum under rule XXII be waived with sachusetts to include a crowdfunding growth by improving access to the pub- respect to the cloture motion I have provision which is much superior. lic capital markets for emerging just filed. If we do not achieve cloture, we will growth companies, shall be brought to The PRESIDING OFFICER. Without see, by default, a bad House bill on its a close? objection, it is so ordered. way to becoming law. The yeas and nays are mandatory f The PRESIDING OFFICER (Mrs. under the rule. JUMPSTART OUR BUSINESS SHAHEEN). The Senator has used 2 min- The clerk will call the roll. STARTUPS ACT—Continued utes. The bill clerk called the roll. The Senator from Louisiana. Mr. KYL. The following Senator is Mr. REID. Mr. President, I ask unan- Ms. LANDRIEU. Following up on the necessarily absent: the Senator from imous consent that Senator REED be leadership of the good Senator from Illinois (Mr. KIRK). recognized for 2 minutes and Senator Rhode Island, let me say there are The PRESIDING OFFICER. Are there LANDRIEU for 2 minutes. I ask unani- many reasons—many reasons—to vote any other Senators in the Chamber de- mous consent that those two Senators against cloture on the House bill, and I siring to vote? be recognized. will get to that in a minute. But I am The yeas and nays resulted—yeas 54, The PRESIDING OFFICER. Without urging my colleagues to vote yes on nays 45, as follows: objection, it is so ordered. cloture for the Reed-Landrieu-Levin [Rollcall Vote No. 51 Leg.] Mr. REED. Mr. President, I thank the substitute. YEAS—54 majority leader. I rise because in a mo- We have tried to address the many ment we will be voting on the Reed- Akaka Gillibrand Murray concerns raised by the House bill in our Baucus Hagan Nelson (NE) Landrieu-Levin substitute amendment. substitute. If we vote yes on cloture for Begich Harkin Nelson (FL) This legislation corrects glaring de- Bennet Inouye Pryor our substitute, we can then go into Bingaman Johnson (SD) Reed fects in the House-proposed bill on a some more meaningful debate on the so-called jobs bill. It protects inves- Blumenthal Kerry Reid Senate floor, and this bill needs some Boxer Klobuchar Rockefeller tors. It allows capital formation, but it additional debate. Brown (MA) Kohl Sanders Brown (OH) Landrieu Schumer does not do that at the expense of in- Mary Schapiro from the SEC said, vestors. Cantwell Lautenberg Shaheen clearly, the House bill goes too far. The Cardin Leahy Stabenow We have taken all the major provi- Chamber of Commerce even says there Carper Levin Tester sions of the House bill with respect to Casey Lieberman Udall (CO) are concerns in the House bill. AARP is Conrad Manchin Udall (NM) the IPO onramp. We have not deleted opposed to the House bill. Securities them, we have improved them. We have Coons McCaskill Warner and Exchange Commissioner Mary Durbin Menendez Webb lowered the threshold in terms of the Schapiro wrote last week: Feinstein Merkley Whitehouse size of the business so these IPO Franken Mikulski Wyden onramps can be designed for small H.R. 3606 would remove certain important measures put in place to enforce separation NAYS—45 businesses, not for businesses of $1 bil- between the research analysts and invest- Alexander Boozman Coburn lion in annual revenue. ment bankers who work for the same firms. Ayotte Burr Cochran We have gone ahead and looked at These careful principles were put in after the Barrasso Chambliss Collins the aspects of regulation A in the scandals that ensued on Wall Street. Blunt Coats Corker

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00024 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.046 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1841 Cornyn Isakson Portman on about our business. So I think this good friend HARRY REID’s job and I Crapo Johanns Risch DeMint Johnson (WI) Roberts is a huge mistake by my Republican were the majority leader, we would be Enzi Kyl Rubio colleagues. turning to the Ex-Im Bank next, right Graham Lee Sessions Everyone, listen. Ex-Im is, for the after this, and we would be doing it Grassley Lugar Shelby foreseeable future, not going to be able with very few amendments because the Hatch McCain Snowe Heller McConnell Thune to be moved forward. I cannot move it advantage to being the majority lead- Hoeven Moran Toomey to the front of everything else when we er, obviously, is you have the ability to Hutchison Murkowski Vitter have all these things due. I have only schedule. I want everybody who is fol- Inhofe Paul Wicker talked about a few of the things we lowing this issue to understand that if NOT VOTING—1 have to do, and we have to do them I were setting the agenda, the next Kirk very soon. item up, right after this bipartisan jobs The PRESIDING OFFICER. On this So go ahead, my friends. You picked bill, would be the Ex-Im Bank. vote, the yeas are 54, the nays are 45. a fight where it is not a necessary Mr. REID. Madam President, remem- Three-fifths of the Senators duly cho- fight, but you may be surprised how ber, anyone who can read—we can all sen and sworn not having voted in the this winds up. I will say no more. I do that—the morning press accounts. affirmative, the motion is rejected. know what the rules of the Senate are, CANTOR of the House leadership has The majority leader is recognized. and I am going to follow them. So have said he doesn’t support the Ex-Im Mr. REID. Madam President, we need at it, vote no on the Ex-Im Bank. Bank; that my amendment—my order in the Senate. People should take The PRESIDING OFFICER. The Re- amendment, sponsored by Democrats their seats. The Republican leader has publican leader. and Republicans—was a partisan ma- some words he wants to share with the Mr. MCCONNELL. This JOBS bill neuver. They are not about to take the Senate. passed overwhelmingly in the House, Ex-Im Bank unless it is part of the The PRESIDING OFFICER. The Re- with only 23 votes against it, supported overall package, and that is why we are publican leader is recognized. by the President of the United States. doing it this way. Mr. MCCONNELL. Madam President, It is ready to go down to him for signa- Madam President, as my friend the on my leader time, briefly, there is ture. If we add the Ex-Im Bank to it, Republican leader said so clearly, he is substantial support on this side of the we only delay the passage of this bipar- not the leader. I am. We have a number aisle for the Ex-Im Bank. However, it tisan JOBS bill, and we send it back to of very important issues we have to is important that we get this bipar- the House, and we don’t know how they deal with. Even though I believe in the tisan JOBS bill that passed the House feel about the Ex-Im extension. We do Ex-Im program, it is going to drop to overwhelmingly and that the President know that here in the Senate, as I just the bottom of the calendar because we supports on down to the President. So indicated, there is a significant major- have things we have to do. it is going to be my recommendation to ity in favor of passing this legislation, CLOTURE MOTION my Members, which I hope they will which we ought to be able to do very The PRESIDING OFFICER. The clo- follow, that we oppose cloture on add- quickly. ture motion having been presented ing the Ex-Im to this bill. I do not think there is any particular under rule XXII, the Chair directs the I say to my friend the majority lead- reason for delaying a jobs bill that is clerk to read the motion to invoke clo- er, I have discussed this with virtually overwhelmingly supported on a bipar- ture. all my Members. We believe that if you tisan basis; therefore, I say to my The legislative clerk read as follows: friends on this side who are in favor of turn to the Ex-Im matter, we can pass CLOTURE MOTION the Ex-Im Bank, I am in favor of mov- it in a relatively short time with very We, the undersigned Senators, in accord- few amendments related to the subject ing to that rapidly. I can say to the ance with the provisions of rule XXII of the matter. But I think it is important majority leader, as I said before, we Standing Rules of the Senate, hereby move that we get this JOBS bill down to the would be willing to agree to very few to bring to a close the debate on amendment President. amendments related to the subject No. 1836 to H.R. 3606, an Act to increase I urge my colleagues at this par- matter. I encourage him to turn to American job creation and economic growth ticular point on this particular bill to that soon, even though it doesn’t ex- by improving access to the public capital oppose cloture. pire, I believe, until sometime in May. markets for emerging growth companies. The PRESIDING OFFICER. The ma- With that, I yield the floor. Harry Reid, Ben Nelson, Mary L. Lan- Mr. REID. Madam President, I say go drieu, Carl Levin, Jon Tester, Mark jority leader is recognized. Begich, Patty Murray, Mark R. War- Mr. REID. Madam President, at a ahead and vote against a bill you favor. ner, Christopher A. Coons, Robert meeting very recently with people It is very clear. The only way to ensure Menendez, Thomas R. Carper, Joseph I. from the Pentagon, their No. 1 issue is that this program, the Ex-Im Bank, ad- Lieberman, Debbie Stabenow, Robert not Afghanistan, it is not Iraq, it is not vances is to see that it is attached to P. Casey, Jr., Jeanne Shaheen, Tom Pakistan, it is not North Korea, it is the House measure. Clearly, that is it. Udall, Jim Webb, Barbara Boxer. not Iran, it is cybersecurity. We have I am very, very tired of this bill, the The PRESIDING OFFICER. By unan- to move to that legislation. The post IPO bill, being referred to as a jobs bill. imous consent, the mandatory quorum office is going broke as we speak. We That takes a lot of gall, to talk about call has been waived. have to move to that bill as quickly as that as a jobs bill. We have a jobs bill The question is, Is it the sense of the we can. The Violence Against Women that we, on a bipartisan basis, passed Senate that debate on amendment No. Act has expired. We have to move for- after 5 weeks on the Senate floor. Have 1836 to H.R. 3606, an act to increase ward on that. We have so much to do in I heard one word from my Republican American job creation and economic such a short period of time. colleagues about a real jobs bill, say- growth by improving access to the pub- The Export-Import Bank is a power- ing, why is the Speaker driving a nail lic capital markets for emerging ful piece of legislation—300,000 jobs this in this bill that we worked on for 5 growth companies, shall be brought to year alone. It saves $1 billion. And my weeks? a close? Republican colleagues, as has been Understand that the surface trans- The yeas and nays are mandatory standard procedure around here, even portation bill is a jobs bill. The IPO under the rule. on a bill that is as supported as this by bill is a nice thing to do, if it were done The clerk will call the roll. the country, want to have a fight. The in the right manner and we had some The legislative clerk called the roll. fight is on a procedural matter, that amendments that got rid of some of the Mr. KYL. The following Senator is they want offered amendments—plural. bad provisions. Before this is all over, necessarily absent: the Senator from As my friend the Republican leader that may be just what happens. Illinois (Mr. KIRK). said, we could pass this bill in a rel- The PRESIDING OFFICER. The Re- The PRESIDING OFFICER. Are there atively short period of time. Think publican Leader. any other Senators in the Chamber de- about that. Right now, we could pass Mr. MCCONNELL. If I may say to siring to vote? that, it would be part of this IPO bill those who are watching and those in- The yeas and nays resulted—yeas 55, we got from the House, and we could go terested in the Ex-Im Bank, if I had my nays 44, as follows:

VerDate Mar 15 2010 01:31 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00025 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.004 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1842 CONGRESSIONAL RECORD — SENATE March 20, 2012 [Rollcall Vote No. 52 Leg.] school districts in the country. In this happen to be of the same gender. This YEAS—55 capacity, Dr. Rheault has developed a case underscores not only the harm Akaka Gillibrand Murray unique understanding of the challenges that current Federal law causes to Baucus Hagan Nelson (NE) facing Nevada’s districts and schools. same sex couples, but the additional Begich Harkin Nelson (FL) Over his 8 years as superintendent, he hardship placed upon same sex bina- Bennet Heller Pryor tional couples whose marriages are not Bingaman Inouye Reed has helped lead several statewide edu- Blumenthal Johnson (SD) Reid cational initiatives and has worked recognized as the foundation of a Boxer Kerry Rockefeller hard to ensure that Nevada students spousal-based green card petition. Brown (MA) Klobuchar Schumer Last summer, I chaired a hearing be- Brown (OH) Kohl are prepared to compete in the global Shaheen Cantwell Landrieu economy. fore the Senate Judiciary Committee Stabenow Cardin Lautenberg to examine the impact of the Defense Tester Most recently, Nevada was one of Carper Leahy only six States to be awarded a $71 mil- of Marriage Act. We heard from many Casey Levin Udall (CO) Collins Lieberman Udall (NM) lion, 5-year competitive grant through different witnesses about how this Fed- Conrad Manchin Warner the Striving Readers Comprehensive eral law has singled them and their Coons McCaskill Webb Literacy Program to improve the lit- families out and made them less secure Durbin Menendez Whitehouse than other families protected under Feinstein Merkley Wyden eracy skills of Nevada students, includ- Franken Mikulski ing students with disabilities and lim- State law. That historic hearing re- flected steady progress toward a better NAYS—44 ited English proficiency. In addition, Dr. Rheault oversaw the Nevada Path- understanding of the way in which that Alexander Graham Murkowski law hurts Americans and their loved Ayotte Grassley Paul way to 21st Century Learning, a state- Barrasso Hatch Portman wide professional development program ones. I have experienced profound Blunt Hoeven Risch dedicated to helping Nevada teachers change in my own views. I voted for Boozman Hutchison Roberts successfully integrate and utilize tech- the Defense of Marriage Act in 1996. Burr Inhofe Rubio Chambliss Isakson nology in their classrooms. And today I will not hesitate to ac- Sanders knowledge that my views have changed Coats Johanns Sessions Nevadans are fortunate to have had Coburn Johnson (WI) Shelby the educational leadership of Dr. for the better. My own transformation Cochran Kyl Snowe came in part from the State of Corker Lee Rheault. I join with students, teachers, Thune Cornyn Lugar and administrators from across the ’s drive towards greater equal- Crapo McCain Toomey State in thanking him for his dedica- ity for Vermonters. The Vermont Su- Vitter DeMint McConnell tion and service. It has been a pleasure preme Court’s opinion in the landmark Enzi Moran Wicker to work with Dr. Rheault over the case of Baker v. State first gave rise to NOT VOTING—1 years, and I wish him and his family legislatively-enacted civil unions in Kirk the best as he begins this next phase of Vermont. In Baker v. State, then-Chief The PRESIDING OFFICER. On this his life. Justice Jeffery Amestoy wrote that the vote, the yeas are 55, the nays are 44. f court’s decision was grounded in Vermont’s constitution and was ‘‘a rec- Three-fifths of the Senators duly cho- RETIREMENT OF BRIAN LAMB sen and sworn not having voted in the ognition of our common humanity.’’ A affirmative, the motion is not agreed Mr. MCCAIN. Mr. President, as my few years later, the Vermont legisla- to. colleagues know, Brian Lamb, the ture voted to provide full marriage The majority leader. founder and CEO of C–SPAN, recently equality. And other States have now Mr. REID. Madam President, for my announced his decision to retire. followed this march toward equality Members, we are going to have a con- Brian Lamb is a broadcasting legend for all committed couples. ference at 5:15 in the LBJ Room. I have who made the workings of our govern- Our common humanity is what my spoken to the Republican leader. We ment accessible and transparent to friend Congressman JOHN LEWIS was will have no more votes tonight. We every American through C–SPAN, the describing when he spoke in opposition will determine a time in the morning nonprofit cable network he founded 33 to the Defense of Marriage Act on the to have the next vote or votes. We will years ago. I have had the privilege of floor of the House of Representatives in move on from there. So, again, I say to knowing Brian for many years, and 1996, and what he has continued to my Senators, 5:15 in the LBJ Room. there are many people across the coun- fight for and protect for so many years. I note the absence of a quorum. try who still believe we were separated Congressman LEWIS saw this law for The PRESIDING OFFICER (Mr. at birth. what it was with a clarity and convic- CASEY). The clerk will call the roll. More seriously, Brian’s unquestioned tion that I greatly admire. Congress- The assistant legislative clerk pro- integrity and profound commitment to man LEWIS wrote in 2003 that we must ceeded to call the roll. making government accountable to the have ‘‘not just civil rights for some but Mr. REID. Mr. President, I ask unan- people have made a lasting contribu- civil rights for all.’’ He was speaking of imous consent that the order for the tion to our democracy. The American the rights of gay and lesbian Ameri- quorum call be rescinded. people owe Brian Lamb a debt of grati- cans. I could not agree more. The PRESIDING OFFICER. Without tude, and we wish him all the best in Our common humanity is what binds objection, it is so ordered. this new chapter of his remarkable ca- us together. It is what moves neighbors f reer. to help neighbors without regard to f politics or ideology, and without judg- TRIBUTE TO DR. KEITH RHEAULT ment. It is what inspired the extraor- Mr. REID. Mr. President, Dr. Keith DEFENSE OF MARRIAGE ACT dinary generosity and giving spirit of Rheault has dedicated his entire career Mr. LEAHY. I am moved today to Vermonters who helped each other fol- to education, including serving in the talk about Frances Herbert and lowing the devastation of Hurricane Nevada education system for more Takako Ueda of Dummerston, VT. This Irene, and which I and my family wit- than 26 years. At the end of this loving couple is legally married under nessed all over Vermont. I can think of month, Dr. Rheault is retiring from his the laws of Vermont. Yet, like many few things more worthy of protection current position as the Nevada Super- Americans, they are being hurt by the and respect than the universal bond intendent of Public Instruction. Today, Defense of Marriage Act despite the that human beings form with each I am proud to recognize him for his protections provided them under the other. service and his commitment to improv- laws of the State in which they live. Despite Vermont’s exercise of its sov- ing the lives of Nevada’s children Ms. Ueda is a Japanese citizen. Re- ereignty and the legislature’s expres- through education. cently, her petition to become a lawful sion of the will of the people of As superintendent, Dr. Rheault has permanent resident of the United Vermont, the Defense of Marriage Act been responsible for a school system States, as the lawful spouse of a United stands as an obstacle to the full real- that educates more than 400,000 stu- States citizen, was denied for the sole ization of the promise Vermont made dents in some of the most diverse reason that she and her lawful spouse to its citizens—just as it does to the

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00026 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.010 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1843 citizens of every other State that has is forced to live apart from his loved In California, because of the law, taken these steps toward justice and one. No Vermonter, and no American, over 12 million people no longer have a fairness. should be forced to make this choice. lifetime limit on their health insur- Frances Herbert and Takako Ueda In addition to my strong support for ance plan. This includes almost 4.5 mil- are two Vermonters who know first the repeal of the Defense of Marriage lion women and 3.26 million children. hand the harm caused by this discrimi- Act, I introduced the Uniting American Now, individuals and families with natory Federal policy. For them, the Families Act to help right a part of medical expenses do not have to worry issue is not ideological or political, it this wrong. My legislation would grant that they will reach a point where in- is deeply personal. They are legally same-sex binational couples the same surance will no longer provide cov- married in the State of Vermont and immigration benefits provided to het- erage. Eliminating lifetime caps on have been formally committed to one erosexual couples. Passage of this im- coverage and phasing out annual caps another for more than a decade. De- portant legislation would help put our will reassure Californians that their spite the fact that Vermont considers country on par with over 25 other de- health coverage will be there when them to be a married couple, the Fed- veloped countries that value and re- they need it. eral government does not. After many spect human rights. The health reform law is taking years of lawful presence in the United In the United States, 10 states and great strides to ensure affordable pre- States, Ms. Ueda was faced with the the District of Columbia have marriage scription drugs for Medicare bene- impossible decision of choosing be- equality laws. The tide continues to ficiaries. tween her spouse and leaving the swell in favor of same-sex equality Before health reform, Medicare bene- United States. Our Federal laws may with the New Jersey Legislature pass- ficiaries were faced with a prescription split their family apart. This is unfair ing a marriage equality bill this year, drug coverage gap that was and it is wrong. which was vetoed by Governor Christie. unaffordable for many. This so-called Not only does the Defense of Mar- It is clear that Americans are increas- doughnut hole forced beneficiaries to riage Act infringe upon the States’ tra- ingly accepting of same-sex loving re- pay 100 percent of their drug costs after ditional and historic right to define lationships and marriages, and that they exceeded an initial coverage marriage, it denies many Americans more and more Americans are putting limit. As many as one in four seniors equal treatment under the law. What aside tired stereotypes and their per- went without a prescription every year good is a Federal law that dictates sonal preferences to support individual because they simply could not afford such a result? Ideological purity alone freedom and the basic rights of all it. is not sufficient to overcome the harm Americans. Now, the Federal Govern- Now, the law is closing this coverage that is caused. As I just acknowledged, ment must respect the sovereignty of gap, and already, an estimated 320,000 my own thinking has evolved over the these States and the protections those Medicare beneficiaries in California years as I have learned from my con- States have provided its citizens. have saved almost $172 million on pre- stituents and fellow Americans. Yet, Having worked over many months to scription drugs. repealing the Defense of Marriage Act support Takako Ueda and Frances Her- Under the health reform law, insur- would not force any State or individual bert, it is clear to me that the love and ance companies are already banned to recognize a marriage they didn’t devotion that they have for one an- from denying coverage to children be- agree with. Instead, it would restore other is no different or less sacred than cause of a preexisting condition, such the role that States have historically that which I share with my wife, as a heart defect, autism, or juvenile Marcelle. It is no less real, or impor- played in determining who can be mar- diabetes. ried under its laws. tant, or worthy of protection and rec- Parents no longer have to spend I am confident that justice and fair- ognition. I have been blessed to be mar- away college funds to cover children ried for nearly 50 years. Marcelle and I ness will prevail in the end. Our Nation with medical conditions. is too noble and our sense of liberty too have been able to enjoy the family Beginning in 2014, health insurers are strong to tolerate injustice without unity and the benefits that legal rec- prohibited from denying anyone health ognition provides, and which I hope all end. I am heartened by the progress insurance coverage because of a pre- Americans would agree is fundamental. that we are seeing across the country. existing medical condition. This means As the Senate moves through the sec- Public consciousness is evolving, and ond session of the 112th Congress, I will that being pregnant can no longer be will reach the point at which discrimi- keep fighting for Takako Ueda and considered a preexisting condition. It nation based on sexual orientation be- Frances Herbert, for Gordon Stewart, means that individuals will no longer comes another sad relic of our past. I Nancy Wasserman, and Michael Upton, be prevented from purchasing afford- believe we will look back at these prej- and for all Americans who face dis- able insurance simply because they had udices with disappointment and regret, crimination as the result of the De- an accident, are sick, or got cancer. just as we have at other points in our fense of Marriage Act. I know that jus- Under the law, insurance companies history. But the capacity of our Nation tice is on our side. have to pay more of the premium dol- to evolve and progress is a defining lars they collect on actual medical characteristic of the American spirit. f care, not on profits. And the American people ultimately HEALTH REFORM In California, because of this provi- come to reject that which is fundamen- Mrs. FEINSTEIN. Mr. President, dur- sion, almost 9 million people are get- tally unfair and unjust. ing this second anniversary of the Pa- ting better value for their premium Just as Frances Herbert and Takako tient Protection and Affordable Care dollars. Furthermore, California has Ueda are living examples of just how Act, I wish to discuss some of the bene- received over $5 million in grants from devastating the Defense of Marriage fits this law has already brought to the law to fight unreasonable premium Act is for so many Americans, there consumers. increases and to bolster scrutiny of are others in Vermont who are facing Millions of Americans nationwide rates. and have faced the same struggles. and in California have already bene- Because of the health reform law, Gordon Stewart, who testified before fited from this law. For the first time, young adults can now stay on their the Judiciary Committee in 2009, was insurance companies are held account- family insurance plan up to age 26. Pre- compelled to sell his family’s farm in able they cannot drop coverage just be- viously, insurance companies could Vermont and move abroad in order to cause someone gets sick, they cannot drop coverage for young adults, many live lawfully with his partner. Nancy deny coverage because of a preexisting times at age 19. Now the law makes it Wasserman was compelled to leave condition, and they cannot impose lim- easier and more affordable for young Vermont and move to Canada to be its on the amount of care provided in a adults to get health insurance. able to live with her spouse. She can lifetime. Already over 350,000 young adults in now legally enjoy the benefits of mar- This law helps women, children, California have benefited from this riage that would otherwise be denied to young adults, seniors, families, and in- provision. her wife in the United States. Michael dividuals living with disabilities and This law takes great strides to equal- Upton, a doctor and native of Vermont chronic medical conditions. ize insurance coverage for women and

VerDate Mar 15 2010 01:31 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00027 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.037 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1844 CONGRESSIONAL RECORD — SENATE March 20, 2012 to rid the system of discriminatory role in medication therapy manage- Hill, I would like to congratulate phar- practices based on gender. ment, disease management, immuniza- macy leaders, pharmacists, students, The practice of ‘‘gender-rating,’’ or tions, and health care screenings. and executives, and the pharmacy com- charging more for insurance simply be- Eighty-six percent of rural Ameri- munity for their contributions to the cause of gender, is outlawed in the cans reside within a 10-mile radius of a good health of the American people. health reform law. This means that sole community pharmacy. As the face f women can no longer be charged higher of community health care, pharmacies ADDITIONAL STATEMENTS premiums. across the Nation offer these and other Over a recent 3-year period, 7.3 mil- cost-saving programs and services to lion women 38 percent of women who help patients take medicines appro- COLORADO VETERANS RESOURCE tried to buy coverage on the individual priately to achieve positive results. COALITION AND CRAWFORD HOUSE market were either rejected alto- For more than a century, pharmacies ∑ Mr. BENNET. Mr. President, today I gether, charged a higher premium, or and pharmacists have supported folks wish to express my support and appre- sold policies that excluded certain ben- in Montana and throughout America ciation for the Colorado Veterans Re- efit coverage because of a ‘‘preexisting with these important patient care serv- source Coalition, CVRC, and Crawford condition’’ like cancer or having been ices. It is critical we work to support House, which has offered our veterans pregnant. their unique contributions. in Colorado Springs a decade of support As we continue to make health care Now, women will be guaranteed cov- and recovery services. erage at a similar rate to men. better and more affordable, we should CVRC was first formed on March 9, Already, almost 2.3 million Califor- adopt policies that recognize the 2000, operating in a small, three-bed- nian women with private insurance health and financial benefits from room house on Cucharrus Street with a have access to no-cost preventive serv- helping patients adhere to their medi- live-in house manager and two resi- ices because of the law. This includes cations. This helps to improve health dents. Its first dormitory was later necessary cancer screenings, such as outcomes and reduces the risks of ad- named in honor of WWII Medal of mammograms, annual wellness exams, verse events and unnecessary costly Honor recipient and proud native son and contraception. hospital readmissions and emergency of Colorado, William J. Crawford, with Additionally, over 1.6 million women room visits. Unfortunately, only half of his family’s permission. in California who are on Medicare now Americans living with chronic diseases On February 14, 2012, Crawford House have access to free preventive services adhere to their drug regimens. Patient marked its 10th anniversary, com- because of the law. nonadherence costs the Nation’s econ- pleting its first decade of successful These are just a few critical con- omy an estimated $290 billion each veteran recovery services to homeless sumer protections that are now in play year, not to mention the avoidable loss and disabled veterans in Colorado because of the Patient Protection and of quality of life for patients and their Springs. In that decade, more than Affordable Care Act, signed into law 2 loved ones. 1,100 veterans successfully completed years ago. Congress recognized the important Veterans Administration programs, We have a long ways to go to improve role of local pharmacists when it in- and 80 percent of these alumni remain our health care system and to ensure cluded a medication therapy manage- successfully in the community. Many affordable quality care for all Ameri- ment, MTM, benefit in the Medicare of these veterans reestablished rela- cans, but these essential consumer pro- Part D Program. By improving patient tionships with their spouses, families, tections take great strides to get us health outcomes, we have seen better and friends; completed secondary and there. efficiency and savings in the prescrip- advanced education; and entered in to f tion drug program. That is why I sup- the workforce as self-sustaining citi- port community pharmacys’ efforts to RECOGNIZING RxIMPACT DAY zens. strengthen the MTM benefit so it is On December 1, 2003, the Colorado Mr. TESTER. Mr. President, today I available for seniors and others strug- Veterans Resource Coalition and wish to recognize the fourth annual gling with chronic conditions and other Crawford House added additional serv- RxIMPACT Day on Capitol Hill. This is illnesses. ices, and on January 14, 2004, CVRC a day to recognize the contribution of Medicaid beneficiaries also deserve began purchasing two adjacent houses pharmacies to the American healthcare access to the most cost-effective medi- on Weber Street for graduating vet- system. Hundreds of pharmacists, phar- cations. The Affordable Care Act made erans to live in inexpensively while re- macy school faculty and students, important changes to pharmacy reim- starting their lives. These new facili- State pharmacy leaders and pharmacy bursement for generic drugs in the ties freed Crawford House beds to treat company executives will visit the Cap- Medicaid program. The Centers for more homeless and disabled veterans. itol to share with Congress the impor- Medicare and Medicaid Services re- Today, both of these houses are fully tance of supporting legislation that cently issued a proposed rule to imple- paid for, which helps lower our future protects access to neighborhood phar- ment these important changes, and it veteran treatment costs. It was my macies and utilizes pharmacists to im- will be critical for Congress to monitor privilege to tour Crawford House and prove quality and reduce the costs of this rulemaking to ensure it is con- to meet with the staff and residents. health care. sistent with congressional intent. The passion and commitment of those Over 260 advocates from 41 States Finally, I would like to acknowledge who work there, as well as their have traveled to Washington to talk the vital role pharmacies play in the unending commitment to serving those about their contributions in over 50,000 field of public health. All 50 States rec- who have served our Nation, is an in- community pharmacies operating na- ognize the role pharmacists play by spiration and example to all Colo- tionwide. These important health care supporting their ability to administer radans. providers are here to urge Congress to immunizations and other important Therefore, Mr. President, I want the recognize the value of pharmacists and preventative services in Medicare, both RECORD to show my deep appreciation protect access to these medication ex- Part B and Part D, and other Federal and gratitude—along with that of all perts as a part of our valued health health programs. Coloradans—for the contributions of care delivery system. Today, as the cochair of the Senate volunteers, organizations, and individ- Pharmacists are some of the Nation’s Community Pharmacy Caucus, I cele- uals who created, expanded, and con- most accessible and trusted health care brate the value of pharmacists and sup- tinually improved the Colorado Vet- providers. Most Americans live within port efforts to protect access to neigh- erans Resource Coalition and Crawford 5 miles of a community retail phar- borhood and community pharmacies. I House.∑ macy. They are the ultimate do-it-all appreciate how pharmacies improve f providers. Pharmacists prepare, bill, the quality and reduce the costs of and dispense prescriptions. They offer health care. TRIBUTE TO WOODY HARRELL patient counseling. With their special- In recognition of the fourth annual ∑ Mr. COCHRAN. Mr. President, on the ized education, they also play a major NACDS RxIMPACT Day on Capitol occasion of his upcoming retirement, I

VerDate Mar 15 2010 01:31 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00028 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.027 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1845 want to take this opportunity to com- cupations of Corinth on the civilian the National Park System. In the past mend Mr. Woody Harrell, Super- population, and especially to the im- year, he added Martin Luther King, Jr., intendent of Shiloh National Military portant first steps towards full citizen- Memorial, Paterson Great Falls Na- Park, and a true scholar of the Civil ship taken by over 6,000 formerly tional Historical Park, and Fort Mon- War. On April 6th and 7th, Shiloh Na- enslaved people at the Corinth Contra- roe National Monument to his list, tional Military Park will commemo- band Camp site. which now stands at 397 parks. I know rate the 150th anniversary of the first Seeking to establish a natural buffer Superintendent Harrell and his family major Civil War battle in the western around historic Shiloh Hill, thus pre- will enjoy the new opportunities that theater. Shortly after the conclusion of venting future encroachment and inap- come with retirement, as I understand these sesquicentennial activities, propriate development, Superintendent his wife Cynthia and he have already Woody Harrell will step down as Park Harrell has partnered with the Civil made plans to hike the entire length of Superintendent. His contributions to War Trust on Shiloh Battlefield’s most the Appalachian Trail. the State of Mississippi and his leader- ambitious land acquisition program in Superintendent Harrell’s career with ship within the National Park Service over 75 years. Over 300 additional acres the National Park Service has been Civil War community will have a sig- within Shiloh’s original 1894 authorized marked with unprecedented accom- nificant and long-lasting positive im- boundary are now under National Park plishments and is a superb legacy. His pact on this Nation. Service protection. exceptional leadership qualities and A North Carolina native, Super- Stressing preservation, commemora- cultural preservation eminence are in intendent Harrell began his career at tion, and education, Superintendent the best tradition of the Park Service. Moores Creek National Military Park Harrell for over 2 decades has He is a consummate professional whose in the summer of 1968. After service in partnered with neighboring commu- performance in over 43 years of service the United States Army, he worked at nities to promote resource protection has personified those traits of com- the three parks of the Cape Hatteras and heritage tourism. At Corinth, he petency and integrity that our Nation group, most famously presenting a has worked with the local business has come to expect of its senior civil- ‘‘living history’’ portrayal of aviation community to create an annual Herit- ian leaders. On the occasion of his up- pioneer Orville Wright. He later served age Festival that includes 12,000 lumi- coming retirement, I wish the Harrell as Director of Visitor Services under naries: one for each American soldier family all the very best in the years to the Gateway Arch in St. Louis, and as killed, wounded, or missing at the follow.∑ an instructor at the Horace Albright Siege and Battle of Corinth. f Training Center. However, the major- Even before the advent of the Inter- RECOGNIZING HORTON’S BOOKS & ity of his career has been spent work- net, Superintendent Harrell conceived GIFTS ing on Civil War sites, known by many the Civil War Soldiers and Sailors Sys- ∑ in the National Park Service as the tem, an idea that has grown into a Mr. ISAKSON. Mr. President, today I ‘‘Cannonball Circuit.’’ In addition to searchable electronic database with 6.2 wish to honor in the RECORD the 120th his time at Shiloh Battlefield, Super- million records on Civil War veterans. anniversary of Horton’s Books & Gifts intendent Harrell’s previous assign- This innovative and ambitious Park in Carrollton, GA. In March 1892, N. A. Horton officially ments include Historian at Chicka- Service project allows visitors to ac- opened his business in the northeast mauga and Chattanooga National Mili- cess information on relatives and the section of the public square in tary Park for 6 years and for 3 years at units in which they fought, enabling Carrollton, GA. During his early years, Manassas National Battlefield Park. families to trace an ancestor’s service N. A. Horton and his Carrollton Book Recently, he represented the National throughout the war. All of the data Store supplied books and school sup- Service as an advisor to several Civil entry for this project was done by vol- plies to local students as well as items War Sesquicentennial planning groups. unteers, with support groups ranging such as sewing machines, carpet Serving in his current capacity since from the Mormon Church to the United squares, china, and stationary. As Mr. August 28, 1990, Superintendent Harrell Daughters of the Confederacy. Horton was an undertaker by training, has the distinct honor of having the During the 1990s, Harrell partnered his store also carried coffins and cas- longest tenure of any manager in Shi- with the Corps of Engineers and the kets. loh Park’s 117-year history. During a Federal Highway Administration to After N. A. Horton died from a stroke time of budget constraints and limited halt riverbank erosion at the Shiloh in December 1916, his 20-year-old son resources, Superintendent Harrell has Indian Mounds National Historic Land- Hewling, also known as ‘‘Hap,’’ took not only maintained Shiloh’s status as mark, a problem that had plagued the over the operation of the store. The America’s best preserved battlefield, he park for over 20 years. During the miti- store was relocated several times to has overseen a major expansion of the gation archeology phase of this project, different buildings around the town park into Mississippi with the creation Superintendent Harrell worked closely square, but in 1955 Hap moved the store of a new Corinth Unit. By bringing to- with the Chickasaw Nation to insure back to its original location. In 1968, gether local, State, and national stake- the tribe’s involvement in preserving Doris Shadrix, a longtime employee, holders to identify and prioritize key key cultural resources in the Shiloh became a partner in the business and surviving Civil War resources, Harrell portion of their original homeland. eventually the sole owner of the store. was able to build a consensus for a One of Superintendent Harrell’s final After spending a total of 42 years as an comprehensive plan to preserve and in- duties will be to premier a new Shiloh employee and owner, Mrs. Shadrix sold terpret 18 nationally significant sites documentary film as part of the bat- the business to Larry Johnson. In 1997, in northern Mississippi and southwest tle’s sesquicentennial events. Entitled Mr. Johnson sold the business to the Tennessee. This broad support resulted ‘‘Shiloh: Fiery Trial,’’ this new movie present owner, Dorothy Pittman. in over 1,000 acres of battlefields, for- replaces ‘‘Shiloh: Portrait of a Battle,’’ Although Horton’s has had five own- tifications, and campsites being added which has been shown continuously at ers in its 120-year history, each propri- to the Corinth Unit. the park since 1956. Filmed with the etor has stamped his or her brand of Superintendent Harrell is credited as participation of over 350 Civil War re- creative individualism on the store, the visionary force in planning and enactors, ‘‘Shiloh: Fiery Trial’’ will which has become a beloved institution constructing the flagship of this addi- soon be shown for the first time and in the community. Horton’s has been tion, the award-winning Corinth Civil then broadcast on many PBS stations an active participant in the continued War Interpretive Center. While Na- on the eve of Shiloh’s 150th anniver- vitality of the Carrollton downtown tional Park Service Interpretation at sary. It is fitting that Harrell not only business district, supporting its em- Shiloh had formerly concentrated only served as executive producer for the ployees as leaders and active partici- on the 2-day, 1862 battle, the Corinth project, but also makes a brief cameo pants in civic affairs and helping with facility now allows visitors to fully ex- appearance handing a message to Gen- community projects, education, and or- plore the whole story of the Civil War, eral Grant. ganizations. from the causes and coming of the war, Since March 2007, Woody has main- Just as in the past, Horton’s Books & to the impact of multiple military oc- tained a record of visiting every unit of Gifts continues to adapt and change to

VerDate Mar 15 2010 01:35 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00029 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.035 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1846 CONGRESSIONAL RECORD — SENATE March 20, 2012 meet the needs of its customers and Scholarship Gala, thank him for his MEASURES REFERRED the community. In 2000, the store was service in the Commonwealth of Mas- The following bills were read the first featured as one of the Nation’s book- sachusetts, and all that he’s ac- and the second times by unanimous stores over 100 years old, and it has complished.∑ consent, and referred as indicated: been the subject of many magazine and f H.R. 3992. An act to allow otherwise eligi- newspaper articles in the past 15 years. ble Israeli nationals to receive E-2 non- When the store mascot, Chloe the cat, TRIBUTE TO GLADE SANDERS immigrant visas if similarly situated United States nationals are eligible for similar non- died at age 15, she was featured on the ∑ Mr. LEE. Mr. President, today I wish front page of the local newspaper, the immigrant status in Israel; to the Com- to congratulate Mr. Glade Sanders, a mittee on the Judiciary. Times-Georgian. One of the first book fine Utah resident who was recently H.R. 4086. An act to amend chapter 97 of signings for Atlanta Journal-Constitu- honored with the prestigious Out- title 28, United States Code, to clarify the tion writer Celestine Sibley was held at standing Eagle Scout Award. Only 150 exception to foreign sovereign immunity set Horton’s, as was her last. Other au- such awards have been bestowed upon forth in section 1605(a)(3) of such title; to the Committee on the Judiciary. thors who have visited the store in- individual scouts in the entire country. clude Mary Kay Andrews, Terry Kay, Sanders also deserves congratula- f former Georgia Governor and U.S. Sen- tions for reaching the age of 100. He has MEASURES PLACED ON THE ator Zell Miller, and former U.S. House spent many of those years working CALENDAR Speaker Newt Gingrich. tirelessly in his community, including It gives me a great deal of pleasure The following bill was read the sec- the period during the Great Depression ond time, and placed on the calendar: and it is a privilege to recognize on the when he led his local Boy Scouts in floor of the Senate Horton’s Books & S. 2204. A bill to eliminate unnecessary tax Troop 133 as scoutmaster. Troop 133 re- subsidies and promote renewable energy and Gifts as we honor its place in Georgia cently celebrated Sanders and his ac- energy conservation. history as one of the oldest bookstores complishments during a Court of ∑ f in Georgia and in the Nation. Honor. EXECUTIVE AND OTHER f Sanders joined the scouting program COMMUNICATIONS TRIBUTE TO DR. RICHARD E. at 17 years of age. Once there, however, WYLIE he spent 29 years as an active scouter. The following communications were laid before the Senate, together with ∑ In those days, scoutmasters could be- Mr. KERRY. Mr. President, today I accompanying papers, reports, and doc- wish to bring attention to Dr. Richard come Eagles, and Sanders became the first Eagle Scout in Nephi, UT, in 1934. uments, and were referred as indicated: E. Wylie, Endicott College’s fifth and EC–5377. A communication from the Sec- current president. Through this post He also received Scouting’s Silver Bea- ver Award. Sanders would serve as retary of Defense, transmitting, pursuant to and a variety of other positions in law, a report relative to Department of De- scoutmaster for 9 years, toughing out higher education, Dr. Wylie has fully fense counternarcotics support activities devoted himself to academic excel- the hard times of the Great Depression (OSS Control No. 2012–0397); to the Com- lence. and helping his scouts do the same in mittee on Armed Services. whatever way he could. EC–5378. A communication from the Under Before assuming his role as president Secretary of Defense (Acquisition, Tech- of Endicott College in Beverly, MA, Dr. Today, Sanders’ name is engraved at the top of a plaque recognizing all of nology and Logistics), transmitting, pursu- Wylie served as a professor and admin- ant to law, the National Defense Stockpile istrator at a variety of other institu- the Eagle Scouts of Troop 133. He has (NDS) Annual Materials Plan for fiscal year tions, including the University of Con- dedicated his life to helping others and 2013 and the succeeding 4 years, fiscal years necticut, Temple University, and Les- has earned his reward many times over 2014–2017; to the Committee on Armed Serv- by seeing young men attain the rank of ices. ley College, and served on the board of EC–5379. A communication from the Direc- New England Association of Schools Eagle. As a fellow scout, I deeply thank him for his service.∑ tor of the Regulatory Management Division, and Colleges and the board at the Asso- Environmental Protection Agency, transmit- ciation of Independent Colleges and f ting, pursuant to law, the report of a rule en- Universities in Massachusetts. Outside titled ‘‘Approval and Promulgation of Imple- of the classroom, he has written arti- MESSAGES FROM THE HOUSE mentation Plans and Operating Permits Pro- gram; Commonwealth of Puerto Rico; Ad- cles on higher education, authored a ENROLLED BILL SIGNED ministrative Changes’’ (FRL No. 9645–8) re- monograph on bilingual and multicul- At 10:03 a.m., a message from the ceived in the Office of the President of the tural education, and published a vari- House of Representatives, delivered by Senate on March 14, 2012; to the Committee ety of children’s books. Mr. Novotny, one of its reading clerks, on Environment and Public Works. Most recently, Dr. Richard Wylie has announced that the Speaker has signed EC–5380. A communication from the Direc- overseen the tremendous growth and the following enrolled bill: tor of the Regulatory Management Division, transformation of Endicott College. Environmental Protection Agency, transmit- H.R. 473. An act to provide for the convey- ting, pursuant to law, the report of a rule en- When he assumed his role in 1987, Endi- ance of approximately 140 acres of land in titled ‘‘Revisions to Final Response to Peti- cott was a small, two-year women’s the Ouachita National Forest in Oklahoma tion From New Jersey Regarding SO2 Emis- college; through his efforts, the College to the Indian Nations Council, Inc., of the sions From the Portland Generating Sta- earned four-year status, became coedu- Boy Scouts of America, and for other pur- tion’’ (FRL No. 9648–9) received in the Office cational, tripled its enrollment, and poses. of the President of the Senate on March 14, greatly expanded its academic offer- The enrolled bill was subsequently 2012; to the Committee on Environment and signed by the President pro tempore Public Works. ings. Today, Endicott College is recog- EC–5381. A communication from the Direc- nized for its variety of degree pro- (Mr. INOUYE). tor of the Regulatory Management Division, grams, including its brand new doc- Environmental Protection Agency, transmit- toral program. At 10:57 a.m., a message from the ting, pursuant to law, the report of a rule en- Some of our country’s greatest assets House of Representatives, delivered by titled ‘‘Approval and Promulgation of Imple- are educators like Dr. Wylie who go Mr. Novotny, one of its reading clerks, mentation Plans; North Dakota; Regional above and beyond the call of duty announced that the House has passed Haze State Implementation Plan; Federal Implementation Plan for Interstate Trans- every single day to instill a love of the following bills, in which it requests the concurrence of the Senate: port of Pollution Affecting Visibility and Re- knowledge in our country’s citizens. gional Haze’’ (FRL No. 9648–3) received in the His commitment to education will in- H.R. 3992. An act to allow otherwise eligi- Office of the President of the Senate on spire his students well beyond gradua- ble Israeli nationals to receive E–2 non- March 14, 2012; to the Committee on Environ- tion and will improve the sense of com- immigrant visas if similarly situated United ment and Public Works. States nationals are eligible for similar non- munity and citizenship that is vital to EC–5382. A communication from the Direc- immigrant status in Israel. tor of the Regulatory Management Division, any educational institution, and to H.R. 4086. An act to amend chapter 97 of Environmental Protection Agency, transmit- this Nation. title 28, United States Code, to clarify the ting, pursuant to law, the report of a rule en- I congratulate Dr. Richard E. Wylie exception to foreign sovereign immunity set titled ‘‘Approval and Promulgation of Imple- on the occasion of his 25th Anniversary forth in section 1605(a)(3) of such title. mentation Plans; New Jersey; Motor Vehicle

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00030 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.002 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1847 Enhanced Inspection and Maintenance Pro- Environmental Protection Agency, transmit- INTRODUCTION OF BILLS AND gram’’ (FRL No. 9635–5) received in the Office ting, pursuant to law, the report of a rule en- JOINT RESOLUTIONS of the President of the Senate on March 14, titled ‘‘National Emission Standards for Haz- 2012; to the Committee on Environment and ardous Air Pollutants for Polyvinyl Chloride The following bills and joint resolu- Public Works. and Copolymers Production’’ (FRL No. 9636– tions were introduced, read the first EC–5383. A communication from the Direc- 2) received during adjournment of the Senate and second times by unanimous con- tor of the Regulatory Management Division, in the Office of the President of the Senate Environmental Protection Agency, transmit- on March 16, 2012; to the Committee on Envi- sent, and referred as indicated: ting, pursuant to law, the report of a rule en- ronment and Public Works. By Mr. LAUTENBERG (for himself, titled ‘‘Approval and Promulgation of Imple- EC–5392. A communication from the Direc- Mr. RUBIO, Mr. BROWN of Massachu- mentation Plans; Designation of Areas for tor of the Regulatory Management Division, setts, Mr. MERKLEY, Ms. MIKULSKI, Air Quality Planning Purposes; State of Environmental Protection Agency, transmit- and Mr. HARKIN): ting, pursuant to law, the report of a rule en- California; Ozone; Nitrogen Dioxide; Tech- S. 2206. A bill to amend title 38, United titled ‘‘Revocation of TSCA Section 4 Test- nical Amendments’’ (FRL No. 9649–1) re- States Code, to require the Secretary of Vet- ceived in the Office of the President of the ing Requirements for Certain High Produc- tion Volume Chemical Substances’’ (FRL No. erans Affairs to provide educational coun- Senate on March 14, 2012; to the Committee seling to individuals eligible for educational on Environment and Public Works. 9335–6) received during adjournment of the assistance under laws administered by the EC–5384. A communication from the Direc- Senate in the Office of the President of the Secretary before such individuals receive tor of the Regulatory Management Division, Senate on March 16, 2012; to the Committee Environmental Protection Agency, transmit- on Environment and Public Works. such assistance, and for other purposes; to ting, pursuant to law, the report of a rule en- EC–5393. A communication from the Assist- the Committee on Veterans’ Affairs. titled ‘‘OHIO: Final Authorization of State ant Director for Policy, Office of Foreign As- By Mr. SCHUMER (for himself and Ms. Hazardous Waste Management Program Re- sets Control, Department of the Treasury, COLLINS): vision’’ (FRL No. 9646–5) received in the Of- transmitting, pursuant to law, the report of S. 2207. A bill to require the Office of the fice of the President of the Senate on March a rule entitled ‘‘Iranian Transactions Regu- Ombudsman of the Transportation Security 14, 2012; to the Committee on Environment lations’’ (31 CFR Part 560) received during Administration to appoint passenger advo- and Public Works. adjournment of the Senate in the Office of cates at Category X airports to assist elderly EC–5385. A communication from the Direc- the President of the Senate on March 16, and disabled passengers who believe they 2012; to the Committee on Banking, Housing, tor of the Regulatory Management Division, have been mistreated by TSA personnel and and Urban Affairs. Environmental Protection Agency, transmit- for other purposes; to the Committee on ting, pursuant to law, the report of a rule en- EC–5394. A communication from the Sec- retary of Health and Human Services, trans- Commerce, Science, and Transportation. titled ‘‘Approval and Promulgation of Air By Mrs. GILLIBRAND: Quality Implementation Plans; Connecticut; mitting, pursuant to law, a report entitled Determination of Attainment of the One- ‘‘2011 Actuarial Report on the Financial Out- S. 2208. A bill to amend the Export Apple hour Ozone Standard for the Greater Con- look for Medicaid’’; to the Committee on Fi- Act to permit the export of apples to Canada necticut Area’’ (FRL No. 9648–5) received in nance. in bulk bins without certification by the De- EC–5395. A communication from the Assist- the Office of the President of the Senate on partment of Agriculture; to the Committee ant General Counsel, General Law, Ethics, March 14, 2012; to the Committee on Environ- on Banking, Housing, and Urban Affairs. and Regulation, Department of the Treasury, By Mr. BURR (for himself, Mrs. HAGAN, ment and Public Works. transmitting, pursuant to law, (2) reports EC–5386. A communication from the Direc- Mr. WICKER, and Mr. COCHRAN): relative to vacancy announcements within tor of the Regulatory Management Division, the Department, received during adjourn- S. 2209. A bill to amend the Internal Rev- Environmental Protection Agency, transmit- ment of the Senate in the Office of the Presi- enue Code of 1986 to provide that the value of ting, pursuant to law, the report of a rule en- dent of the Senate on March 16, 2012; to the certain historic property shall be determined titled ‘‘National Priorities List, Final Rule Committee on Finance. using an income approach in determining the No. 53’’ (FRL No. 9647–3) received in the Of- EC–5396. A communication from the Chair taxable estate of a decedent; to the Com- fice of the President of the Senate on March of the Medicaid and CHIP Payment Access mittee on Finance. 14, 2012; to the Committee on Environment Commission, transmitting, pursuant to law, By Mr. TESTER: and Public Works. a report entitled ‘‘Report to Congress on S. 2210. A bill to provide that Members of EC–5387. A communication from the Direc- Medicaid and CHIP’’; to the Committee on Congress shall not receive a cost of living ad- tor of the Regulatory Management Division, Finance. Environmental Protection Agency, transmit- EC–5397. A communication from the Pro- justment in pay during 2013; to the Com- ting, pursuant to law, the report of a rule en- gram Manager, Centers for Medicare and mittee on Homeland Security and Govern- titled ‘‘Oklahoma: Final Authorization of Medicaid Services, Department of Health mental Affairs. State Hazardous Waste Management Pro- and Human Services, transmitting, pursuant By Mr. MENENDEZ: gram Revision’’ (FRL No. 9647–7) received in to law, the report of a rule entitled ‘‘Patient S. 2211. A bill to ban the exportation of the Office of the President of the Senate on Protection and Affordable Care Act; Estab- crude oil produced on Federal land, and for March 14, 2012; to the Committee on Environ- lishment of Exchanges and Qualified Health other purposes; to the Committee on Bank- ment and Public Works. Plans; Exchange Standards for Employers’’ ing, Housing, and Urban Affairs. EC–5388. A communication from the Direc- (RIN0938–AQ67) received during adjournment By Mrs. FEINSTEIN (for herself and tor of the Regulatory Management Division, of the Senate in the Office of the President Mr. HATCH): Environmental Protection Agency, transmit- of the Senate on March 16, 2012; to the Com- ting, pursuant to law, the report of a rule en- mittee on Health, Education, Labor, and S. 2212. A bill to clarify the exception to titled ‘‘Transportation Conformity Rule Re- Pensions. foreign sovereign immunity set forth in sec- structuring Amendments’’ (FRL No. 9637–3) EC–5398. A communication from the Assist- tion 1605(a)(3) title 28, United States Code; to received in the Office of the President of the ant Attorney General, Civil Rights Division, the Committee on the Judiciary. Senate on March 14, 2012; to the Committee Department of Justice, transmitting, pursu- By Mr. THUNE (for himself, Mr. VIT- on Environment and Public Works. ant to law, the report of a rule entitled TER, Mr. BARRASSO, Mr. BOOZMAN, EC–5389. A communication from the Direc- ‘‘Nondiscrimination on the Basis of Dis- Mr. BURR, Mr. CHAMBLISS, Mr. tor of the Regulatory Management Division, ability by Public Accommodations and in COBURN, Mr. CORNYN, Mr. CRAPO, Mr. Environmental Protection Agency, transmit- Commercial Facilities; Swimming Pools’’ DEMINT, Mr. ENZI, Mr. GRASSLEY, Mr. ting, pursuant to law, the report of a rule en- (RIN1190–AA68) received during adjournment INHOFE, Mr. ISAKSON, Mr. JOHNSON of titled ‘‘Clean Air Act Full Approval of Title of the Senate in the Office of the President Wisconsin, Mr. MCCONNELL, Mr. V Operating Permits Program; Southern Ute of the Senate on March 16, 2012; to the Com- PAUL, Mr. PORTMAN, Mr. RISCH, Mr. Indian Tribe’’ (FRL No. 9646–8) received in mittee on Health, Education, Labor, and RUBIO, Mr. SESSIONS, Mr. TOOMEY, the Office of the President of the Senate on Pensions. Mr. WICKER, Mr. COCHRAN, Mr. March 14, 2012; to the Committee on Environ- EC–5399. A communication from the Assist- HATCH, Mr. LUGAR, Mr. GRAHAM, Ms. ment and Public Works. ant Secretary, Office of Legislative Affairs, AYOTTE, and Mr. LEE): EC–5390. A communication from the Direc- Department of State, transmitting, a cor- S. 2213. A bill to allow reciprocity for the tor of Congressional Affairs, Nuclear Regu- respondence from the Minister of Foreign Af- carrying of certain concealed firearms; to latory Commission, transmitting, pursuant fairs for the Government of the Kyrgyz Re- the Committee on the Judiciary. to law, the report of a rule entitled ‘‘Ongoing public; to the Committee on Foreign Rela- By Mr. WARNER (for himself and Mr. Review of Operating Experience’’ (LR–ISG– tions. WEBB): 2011–05) received in the Office of the Presi- EC–5400. A communication from the Assist- dent of the Senate on March 15, 2012; to the ant Secretary of Defense (Legislative Af- S. 2214. A bill to remove restrictions from Committee on Environment and Public fairs), transmitting a legislative proposal en- a parcel of land situated in the Atlantic Dis- Works. titled ‘‘National Defense Authorization Act trict, Accomack County, Virginia; to the EC–5391. A communication from the Direc- for Fiscal Year 2013’’; to the Committee on Committee on Commerce, Science, and tor of the Regulatory Management Division, Armed Services. Transportation.

VerDate Mar 15 2010 01:35 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00031 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.013 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1848 CONGRESSIONAL RECORD — SENATE March 20, 2012 SUBMISSION OF CONCURRENT AND SCHUMER) was added as a cosponsor of DURBIN), the Senator from New Hamp- SENATE RESOLUTIONS S. 2051, a bill to amend the Higher Edu- shire (Mrs. SHAHEEN), the Senator from The following concurrent resolutions cation Act of 1965 to extend the re- Missouri (Mrs. MCCASKILL), the Sen- and Senate resolutions were read, and duced interest rate for Federal Direct ator from Pennsylvania (Mr. CASEY) referred (or acted upon), as indicated: Stafford Loans. and the Senator from Connecticut (Mr. S. 2148 By Ms. STABENOW (for herself, Mr. LIEBERMAN) were added as cosponsors BEGICH, Mr. LEVIN, Ms. MIKULSKI, At the request of Mr. INHOFE, the of amendment No. 1836 proposed to Mrs. MURRAY, Mr. COCHRAN, Mr. name of the Senator from Indiana (Mr. H.R. 3606, a bill to increase American JOHNSON of South Dakota, Ms. CANT- COATS) was added as a cosponsor of S. job creation and economic growth by WELL, and Ms. LANDRIEU): 2148, a bill to amend the Toxic Sub- improving access to the public capital S. Res. 400. A resolution supporting the stance Control Act relating to lead- markets for emerging growth compa- goals and ideals of Professional Social Work based paint renovation and remodeling nies. Month and World Social Work Day; to the activities. Committee on the Judiciary. f S. 2193 f STATEMENTS ON INTRODUCED At the request of Mr. MERKLEY, the ADDITIONAL COSPONSORS name of the Senator from Connecticut BILLS AND JOINT RESOLUTIONS S. 543 (Mr. BLUMENTHAL) was added as a co- By Mrs. FEINSTEIN (for herself At the request of Mr. WYDEN, the sponsor of S. 2193, a bill to require the and Mr. HATCH): name of the Senator from Georgia (Mr. Food and Drug Administration to in- S. 2212. A bill to clarify the exception CHAMBLISS) was added as a cosponsor of clude devices in the postmarket risk to foreign sovereign immunity set S. 543, a bill to restrict any State or identification and analysis system, to forth in section 1605(a)(3) title 28, local jurisdiction from imposing a new expedite the implementation of the United States Code; to the Committee discriminatory tax on cell phone serv- unique device identification system for on the Judiciary. ices, providers, or property. medical devices, and for other pur- Mrs. FEINSTEIN. Mr. President, I poses. am very pleased to join with my col- S. 557 S. 2204 league and good friend Senator HATCH At the request of Mr. SCHUMER, the name of the Senator from Texas (Mrs. At the request of Mr. REID, his name to introduce this bill, which will re- solve an unsettled issue that is making HUTCHISON) was added as a cosponsor of was added as a cosponsor of S. 2204, a S. 557, a bill to amend the Internal bill to eliminate unnecessary tax sub- it difficult for museums and univer- Revenue Code of 1986 to expand tax-free sidies and promote renewable energy sities to obtain works of art for tem- distributions from individual retire- and energy conservation. porary exhibition from foreign coun- ment accounts for charitable purposes. S. RES. 380 tries. At the request of Mr. BARRASSO, his Cultural exchange with foreign na- S. 1299 name was added as a cosponsor of S. tions enables the sharing of ideas and At the request of Mr. MORAN, the history across the globe. When foreign name of the Senator from New Jersey Res. 380, a resolution to express the sense of the Senate regarding the im- works are shown at American muse- (Mr. LAUTENBERG) was added as a co- portance of preventing the Government ums, they expose our people to the sponsor of S. 1299, a bill to require the of Iran from acquiring nuclear weapons richness of world history and culture. Secretary of the Treasury to mint capability. In 2011, the San Diego Museum of Art coins in commemoration of the centen- hosted an exhibition of 64 works of fa- nial of the establishment of Lions S. RES. 397 mous Spanish artists, such as El Greco, Clubs International. At the request of Mr. COONS, the names of the Senator from Connecticut Pablo Picasso, Francisco Goya, and S. 1350 (Mr. LIEBERMAN), the Senator from Salvador Dalı´. At the request of Mr. COONS, the Connecticut (Mr. BLUMENTHAL) and the Also in 2011, the De Young Museum name of the Senator from Maryland Senator from Florida (Mr. RUBIO) were in San Francisco hosted an exhibition (Mr. CARDIN) was added as a cosponsor added as cosponsors of S. Res. 397, a of more than 100 Picasso masterpieces of S. 1350, a bill to expand the research, resolution promoting peace and sta- from Paris, as well as more than 100 ob- prevention, and awareness activities of bility in Sudan, and for other purposes. jects from the Olmec civilization in the Centers for Disease Control and S. RES. 399 Mexico. Prevention and the National Institutes At the request of Mr. MENENDEZ, the In 2009, the Los Angeles County Mu- of Health with respect to pulmonary fi- name of the Senator from New York seum of Art hosted an exhibit con- brosis, and for other purposes. (Mr. SCHUMER) was added as a cospon- taining artifacts from the Ancient S. 1925 sor of S. Res. 399, a resolution calling Roman city of Pompeii, which was bur- At the request of Mr. HELLER, his upon the President to ensure that the ied by a volcanic eruption and redis- name was added as a cosponsor of S. foreign policy of the United States re- covered in the 18th Century. 1925, a bill to reauthorize the Violence flects appropriate understanding and In 2007, the Los Angeles County Mu- Against Women Act of 1994. sensitivity concerning issues related to seum of Art hosted an exhibit with ap- S. 1935 human rights, crimes against human- proximately 250 works of art created in At the request of Mrs. HAGAN, the ity, ethnic cleansing, and genocide doc- more than seven different Latin Amer- name of the Senator from New York umented in the United States record ican countries between 1492 and 1820. (Mrs. GILLIBRAND) was added as a co- relating to the Armenian Genocide, Without these exhibitions coming to sponsor of S. 1935, a bill to require the and for other purposes. American museums, many Americans Secretary of the Treasury to mint At the request of Mr. REID, his name simply would not have the chance to coins in recognition and celebration of was added as a cosponsor of S. Res. 399, see such important cultural and histor- the 75th anniversary of the establish- supra. ical works in person. Exhibitions of ment of the March of Dimes Founda- AMENDMENT NO. 1833 such works also draw countless visitors tion. At the request of Mr. REED, the name each year, helping museums—which S. 2010 of the Senator from New Jersey (Mr. are vital to the preservation of our own At the request of Mr. KERRY, the MENENDEZ) was added as a cosponsor of culture and heritage—survive and name of the Senator from California amendment No. 1833 proposed to H.R. thrive in difficult economic times. (Mrs. BOXER) was added as a cosponsor 3606, a bill to increase American job For decades, American law has of- of S. 2010, a bill to amend title II of the creation and economic growth by im- fered legal protection for these exhibi- Social Security Act to repeal the Gov- proving access to the public capital tions. Passed in 1965, a law called the ernment pension offset and windfall markets for emerging growth compa- Immunity from Seizure Act, 22 U.S.C. elimination provisions. nies. 2459, is designed to provide the legal S. 2051 AMENDMENT NO. 1836 certainty necessary for American mu- At the request of Mr. REED, the name At the request of Ms. CANTWELL, the seums to organize such exhibitions of the Senator from New York (Mr. names of the Senator from Illinois (Mr. with their foreign counterparts.

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00032 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.015 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1849 This law empowers the President or If the State Department approves a ‘‘(B) the court determines that the activity his designee to approve a foreign work loan of a foreign art work—essentially associated with the exhibition or display is for temporary exhibition or display in immunizing the work from judicial sei- commercial activity; and the United States, a process now han- zure under existing law—then the for- ‘‘(C) a determination under subparagraph (B) is necessary for the court to exercise ju- dled by the State Department. If ap- eign state’s activities associated with risdiction over the foreign state under sub- proval is granted, then the work of art the work’s exhibition cannot be used to section (a)(3). is essentially protected from judicial assert jurisdiction over the foreign ‘‘(3) DEFINITIONS.—For purposes of this process—such as a court-ordered sei- state under the Foreign Sovereign Im- subsection– zure—while it is in the United States. munities Act, 28 U.S.C. 1605(a)(3). ‘‘(A) the term ‘work’ means a work of art Unfortunately, this important law This narrow approach does only what or other object of cultural significance; and has been undermined by a decision of is necessary to fix the problem created ‘‘(B) the term ‘covered government’ the U.S District Court for the District by the Malewicz decision—nothing means— of Columbia in a case called Malewicz more, nothing less. ‘‘(i) the Nazi government of Germany; v. City of Amsterdam. It is important to note that this bill ‘‘(ii) any government in any area occupied In this case, the City of Amsterdam would not apply if the foreign state by the military forces of the Nazi govern- ment of Germany; had made a temporary loan of works of does not seek or receive the State De- ‘‘(iii) any government established with the art for educational and cultural pur- partment’s approval. The State Depart- assistance or cooperation of the Nazi govern- poses to the Guggenheim Museum in ment requires detailed certifications ment; and New York and the Menil Collection in and independent investigations about ‘‘(iv) any government that was an ally of Houston Texas. an art work’s provenance before it the Nazi government of Germany; and Even though the State Department’s grants approval. The bill also expressly ‘‘(C) the term ‘covered period’ means the approval was sought and received for would not apply to any work taken in period beginning on January 30, 1933, and the temporary loan, the court held Europe by the Nazis or their collabo- ending on May 8, 1945.’’. (b) APPLICABILITY.—The amendment made that the City of Amsterdam’s tem- rators. by subsection (a) shall apply to cases com- porary loan nevertheless subjected the Once again, I thank Senator HATCH menced after the date of the enactment of City to Federal court jurisdiction in a and my colleagues in the House for this Act. lawsuit over the work of art. working with me on this important Mr. HATCH. Mr. President, I join the The reason was that—even though legislation, which has already passed Senator from California, Senator FEIN- the loan was for educational and cul- the House of Representatives by voice STEIN, in introducing legislation to tural purposes, for works to be shown vote. I urge my colleagues to join us in clarify the legal protections for art at museums—the City’s activities nev- supporting this legislation. that is loaned from overseas for exhi- ertheless qualified as ‘‘commercial ac- Mr. President, I ask unanimous con- bition in the United States. This bill tivity’’ under a provision of the For- sent that the text of the bill be printed passed the House yesterday by voice eign Sovereign Immunities Act, 28 in the RECORD . vote and I hope it can soon become law. U.S.C. 1605(a)(3). There being no objection, the text of We are blessed in this country to The result of this decision, the bill was ordered to be printed in have so many fine institutions that unsurprisingly, is that foreign muse- ECORD, as follows: the R provide exposure to the art, culture, ums have been more reluctant to lend S. 2212 and history of other lands. Both public their art works to our museums in the Be it enacted by the Senate and House of Rep- and private art museums can be found United States. resentatives of the United States of America in The Executive Branch during the Congress assembled, all over America, including at many of Bush administration recognized this SECTION 1. SHORT TITLE. our fine universities. We must ensure problem and tried to correct it. It This Act may be cited as the ‘‘Foreign Cul- that the exhibitions hosted by these urged the D.C. Circuit to reverse the tural Exchange Jurisdictional Immunity museums continue to benefit all Amer- decision, saying in an amicus brief that Clarification Act’’. icans. the District Court’s ruling was wrong, SEC. 2. CLARIFICATION OF JURISDICTIONAL IM- A major exhibition can take years to MUNITY OF FOREIGN STATES. develop and potential overseas lenders that it ‘‘substantially undermine[d] the (a) IN GENERAL.—Section 1605 of title 28, purposes’’ of the Immunity from Sei- must be assured that their art will be United States Code, is amended by adding at legally protected while it is in the zure Act, and that it would ‘‘discourage the end the following: foreign states and other lenders from ‘‘(h) JURISDICTIONAL IMMUNITY FOR CERTAIN United States. Many exhibitions sim- providing their artwork for temporary ART EXHIBITION ACTIVITIES.— ply will not be possible without that exhibit in the United States.’’ Unfortu- ‘‘(1) IN GENERAL.—If— assurance. We have had laws in place nately the appeal was dismissed before ‘‘(A) a work is imported into the United for decades that did just that, and they States from any foreign country pursuant to worked exactly the way they were sup- the D.C. Circuit had a chance to cor- an agreement providing for the temporary rect this problem. That is why this bill posed to. Specifically, the Protection exhibition or display of such work entered from Seizure Act guaranteed that once is necessary. into between a foreign state that is the Several museums in my home state— owner or custodian of such work and the the State Department reviewed and including the San Francisco Museum of United States or 1 or more cultural or edu- certified an exhibition as being in the Modern Art, the Asian Art Museum in cational institutions within the United national interest, the art was immune San Francisco, the Los Angeles County States; from legal judgments or court orders Museum of Art, the Cantor Center for ‘‘(B) the President, or the President’s des- while in this country. Visual Arts at Stanford University, ignee, has determined, in accordance with This legal protection was thrown and the Santa Barbara Museum of Public Law 89–259 (79 Stat. 985; 22 U.S.C. into doubt by a Federal court decision 2459), that such work is of cultural signifi- Art—have asked me to help restore the several years ago. The U.S. District cance and the temporary exhibition or dis- Court here in the Washington consid- legal certainty that existed prior to play of such work is in the national interest; the Malewicz decision. I know that in- and ered a case involving the Foreign Sov- stitutions in Senator HATCH’s home ‘‘(C) notice has been published in the Fed- ereign Immunities Act, which allows State of Utah have sought his help in eral Register in accordance with Public Law certain kinds of lawsuits against for- this regard as well. 89–259, eign countries in American courts. One I am very pleased to say that Senator any activity in the United States of such for- of those categories is when art alleg- HATCH and I have worked together— eign state or any carrier associated with the edly taken in violation of international along with House Judiciary Committee temporary exhibit or display of such work law is present in this country in con- Chairman LAMAR SMITH, Ranking shall not be considered to be commercial ac- nection with a commercial activity. tivity for purposes of subsection (a)(3). Member JOHN CONYERS, and Represent- The court construed that condition of ‘‘(2) NAZI-ERA CLAIMS.—Paragraph (1) shall being present ‘‘in connection with a atives STEVE CHABOT and STEVE not apply in any case in which— COHEN—to draft a narrow bill that we ‘‘(A) the action is based upon a claim that commercial activity’’ in a way that hope can be enacted quickly this year. the work was taken in Europe in violation of could include art that is here for exhi- This bill is simple. It relies on the international law by a covered government bition under the Protection from Sei- State Department’s approval process. during the covered period; zure Act.

VerDate Mar 15 2010 01:35 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00033 Fmt 4624 Sfmt 0634 E:\CR\FM\G20MR6.028 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1850 CONGRESSIONAL RECORD — SENATE March 20, 2012 The dilemma here is easy to see. SUBMITTED RESOLUTIONS (4) recognizes with gratitude the contribu- These statutes are not supposed to be tions of the millions of caring individuals who have chosen to serve their communities in conflict. Bringing art here under the SENATE RESOLUTION 400—SUP- through social work. protection of one statute is not sup- PORTING THE GOALS AND f posed to create jurisdiction for a law- IDEALS OF PROFESSIONAL SO- suit against the lender under another AMENDMENTS SUBMITTED AND CIAL WORK MONTH AND WORLD PROPOSED statute. SOCIAL WORK DAY SA 1904. Mr. DEMINT submitted an amend- The solution is also easy to see. The Ms. STABENOW (for herself, Mr. ment intended to be proposed by him to the bill we introduce today is very short BEGICH, Mr. LEVIN, Ms. MIKULSKI, Mrs. bill H.R. 3606, to increase American job cre- and very simple. It clarifies that the MURRAY, Mr. COCHRAN, Mr. JOHNSON of ation and economic growth by improving ac- presence in this country of art under South Dakota, Ms. CANTWELL, and Ms. cess to the public capital markets for emerg- the Protection from Seizure Act does LANDRIEU) submitted the following res- ing growth companies; which was ordered to lie on the table. not create jurisdiction for a lawsuit olution; which was referred to the Committee on the Judiciary: SA 1905. Mr. DEMINT submitted an amend- under the Foreign Sovereign Immuni- ment intended to be proposed to amendment S. RES. 400 ties Act. It simply returns these two SA 1836 proposed by Mr. REID (for Ms. CANT- statutes to the harmony they were in- Whereas the social work profession has WELL (for herself, Mr. JOHNSON of South Da- been instrumental in achieving advances in kota, Mr. GRAHAM, Mr. SHELBY, Mr. WARNER, tended to have all along and to lift the civil and human rights in the United States Mr. SCHUMER, Mr. BROWN of Ohio, Mrs. cloud of doubt that has hung over the and across the globe for more than a cen- HAGAN, Mr. COONS, Mr. AKAKA, Mrs. MURRAY, art exhibition process for the last sev- tury; Ms. LANDRIEU, Mr. KERRY, and Mr. KIRK)) to eral years. Whereas the primary mission of social the bill H.R. 3606, supra; which was ordered work is to enhance human well-being and to lie on the table. I want to thank the Brigham Young help meet the basic needs of all people, espe- SA 1906. Mr. DEMINT submitted an amend- University Museum of Art for bringing cially the most vulnerable; ment intended to be proposed by him to the this issue to my attention. The BYU Whereas the programs and services pro- bill H.R. 3606, supra; which was ordered to lie vided by professional social workers are es- museum is the premier art museum in on the table. sential elements of the social safety net in SA 1907. Mr. DEMINT submitted an amend- the Mountain West and the most at- the United States; ment intended to be proposed to amendment tended university art museum in North Whereas social workers make a critical im- SA 1836 proposed by Mr. REID (for Ms. CANT- America. BYU is the organizing insti- pact on adolescent and youth development, WELL (for herself, Mr. JOHNSON of South Da- tution for a major exhibition titled aging and family caregiving, child protection kota, Mr. GRAHAM, Mr. SHELBY, Mr. WARNER, and family services, health-care navigation, Mr. SCHUMER, Mr. BROWN of Ohio, Mrs. Beauty and Belief: Crossing Bridges mental- and behavioral-health treatment, HAGAN, Mr. COONS, Mr. AKAKA, Mrs. MURRAY, with the Art of Islamic Cultures. This assistance to members and veterans of the Ms. LANDRIEU, Mr. KERRY, and Mr. KIRK)) to amazing event, which will be at BYU Armed Forces, nonprofit management and the bill H.R. 3606, supra; which was ordered through September and is free to the community development, and poverty reduc- to lie on the table. tion; SA 1908. Mr. SANDERS submitted an public, includes art from a dozen for- Whereas social workers function as spe- amendment intended to be proposed to eign countries. As this project was in cialists, consultants, private practitioners, amendment SA 1836 proposed by Mr. REID development, the museum director educators, community leaders, policy- (for Ms. CANTWELL (for herself, Mr. JOHNSON raised with me the need to clarify the makers, and researchers; of South Dakota, Mr. GRAHAM, Mr. SHELBY, law protecting art loaned for exhi- Whereas social workers influence many Mr. WARNER, Mr. SCHUMER, Mr. BROWN of different organizations and human-service Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, bition. Thankfully, the BYU exhibition systems and are employed in workplaces Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and was not hindered, but the Association ranging from private and public agencies, Mr. KIRK)) to the bill H.R. 3606, supra; which of Art Museum Directors has docu- hospices and hospitals, schools and clinics, was ordered to lie on the table. mented that this is a problem else- to businesses and corporations, military SA 1909. Mr. AKAKA submitted an amend- units, elected offices, think tanks, and foun- ment intended to be proposed by him to the where. dations; bill H.R. 3606, supra; which was ordered to lie This is a problem that is easy to fix. Whereas social workers seek to improve so- on the table. It is not a partisan or an ideological cial functioning and social conditions for SA 1910. Mrs. FEINSTEIN submitted an people in emotional, psychological, eco- amendment intended to be proposed to issue. It is not a spending program. It nomic, or physical need; amendment SA 1833 proposed by Mr. REID involves neither regulations nor taxes. Whereas social workers are experts in care (for Mr. REED (for himself, Ms. LANDRIEU, Each of our States has institutions coordination, case management, and thera- Mr. LEVIN, Mr. BROWN of Ohio, Mr. MERKLEY, that can benefit from this clarifica- peutic treatment for biopsychosocial issues; Mr. AKAKA, Mr. WHITEHOUSE, Mr. FRANKEN, tion. As my colleagues will see, we did Whereas social workers have roles in more Mr. HARKIN, Mr. DURBIN, and Mrs. SHAHEEN)) than 50 different fields of practice; to the bill H.R. 3606, supra; which was or- put a caveat in the bill so that it will Whereas social workers believe that the dered to lie on the table. not apply to the ongoing efforts to strength of a country depends on the ability SA 1911. Mrs. FEINSTEIN submitted an identify and recover art and cultural of the majority of the people to lead produc- amendment intended to be proposed to objects seized by the Nazis during the tive and healthy lives; amendment SA 1833 proposed by Mr. REID Whereas social workers help people, who (for Mr. REED (for himself, Ms. LANDRIEU, World War II era. are often navigating major life challenges, Mr. LEVIN, Mr. BROWN of Ohio, Mr. MERKLEY, Again, I want to applaud the BYU find hope and new options for achieving max- Mr. AKAKA, Mr. WHITEHOUSE, Mr. FRANKEN, Museum of Art for its triumphant exhi- imum potential; and Mr. HARKIN, Mr. DURBIN, and Mrs. SHAHEEN)) Whereas social workers identify and ad- to the bill H.R. 3606, supra; which was or- bition and for bringing this issue to my dress gaps in social systems that impede full dered to lie on the table. attention so that Americans can con- participation by individuals or groups in so- SA 1912. Mr. CHAMBLISS submitted an tinue to enjoy this enriching and edu- ciety: Now, therefore, be it amendment intended to be proposed to cational experience. I thank my col- Resolved, That the Senate— amendment SA 1836 proposed by Mr. REID (1) supports the goals and ideals of Profes- (for Ms. CANTWELL (for herself, Mr. JOHNSON league from California for introducing sional Social Work Month and World Social of South Dakota, Mr. GRAHAM, Mr. SHELBY, this bill, and for working to refine its Work Day; Mr. WARNER, Mr. SCHUMER, Mr. BROWN of language so that we can solve this spe- (2) acknowledges the diligent efforts of in- Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, cific problem. This short bill proves dividuals and groups who promote the impor- Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and that good things can come in small tance of social work and observe Profes- Mr. KIRK)) to the bill H.R. 3606, supra; which sional Social Work Month and World Social was ordered to lie on the table. packages and I hope the Senate will Work Day; SA 1913. Mr. CHAMBLISS submitted an follow the House and quickly pass this (3) encourages the people of the United amendment intended to be proposed to bill. States to engage in appropriate ceremonies amendment SA 1836 proposed by Mr. REID and activities to promote further awareness (for Ms. CANTWELL (for herself, Mr. JOHNSON of the life-changing role that social workers of South Dakota, Mr. GRAHAM, Mr. SHELBY, play; and Mr. WARNER, Mr. SCHUMER, Mr. BROWN of

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Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, Ms. LANDRIEU, Mr. LEVIN, Mr. BROWN of amendment SA 1836 proposed by Mr. REID Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and Ohio, Mr. MERKLEY, Mr. AKAKA, Mr. WHITE- (for Ms. CANTWELL (for herself, Mr. JOHNSON Mr. KIRK)) to the bill H.R. 3606, supra; which HOUSE, Mr. FRANKEN, Mr. HARKIN, Mr. DUR- of South Dakota, Mr. GRAHAM, Mr. SHELBY, was ordered to lie on the table. BIN, and Mrs. SHAHEEN)) to the bill H.R. 3606, Mr. WARNER, Mr. SCHUMER, Mr. BROWN of SA 1914. Mr. CHAMBLISS submitted an supra; which was ordered to lie on the table. Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, amendment intended to be proposed to SA 1923. Mr. MCCAIN (for himself and Mrs. Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and amendment SA 1836 proposed by Mr. REID HAGAN) submitted an amendment intended Mr. KIRK)) to the bill H.R. 3606, supra; which (for Ms. CANTWELL (for herself, Mr. JOHNSON to be proposed to amendment SA 1836 pro- was ordered to lie on the table. of South Dakota, Mr. GRAHAM, Mr. SHELBY, posed by Mr. REID (for Ms. CANTWELL (for SA 1936. Mr. REED submitted an amend- Mr. WARNER, Mr. SCHUMER, Mr. BROWN of herself, Mr. JOHNSON of South Dakota, Mr. ment intended to be proposed by him to the Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. bill H.R. 3606, supra; which was ordered to lie Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and SCHUMER, Mr. BROWN of Ohio, Mrs. HAGAN, on the table. Mr. KIRK)) to the bill H.R. 3606, supra; which Mr. COONS, Mr. AKAKA, Mrs. MURRAY, Ms. SA 1937. Ms. LANDRIEU submitted an was ordered to lie on the table. LANDRIEU, Mr. KERRY, and Mr. KIRK)) to the amendment intended to be proposed to SA 1915. Mr. CHAMBLISS submitted an bill H.R. 3606, supra; which was ordered to lie amendment SA 1833 proposed by Mr. REID amendment intended to be proposed to on the table. (for Mr. REED (for himself, Ms. LANDRIEU, amendment SA 1836 proposed by Mr. REID SA 1924. Mr. MERKLEY submitted an Mr. LEVIN, Mr. BROWN of Ohio, Mr. MERKLEY, (for Ms. CANTWELL (for herself, Mr. JOHNSON amendment intended to be proposed to Mr. AKAKA, Mr. WHITEHOUSE, Mr. FRANKEN, of South Dakota, Mr. GRAHAM, Mr. SHELBY, amendment SA 1884 submitted by Mr. Mr. HARKIN, Mr. DURBIN, and Mrs. SHAHEEN)) Mr. WARNER, Mr. SCHUMER, Mr. BROWN of MERKLEY (for himself, Mr. BENNET, and Mr. to the bill H.R. 3606, supra; which was or- Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, BROWN of Massachusetts) and intended to be dered to lie on the table. Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and proposed to the bill H.R. 3606, supra; which SA 1938. Ms. AYOTTE submitted an Mr. KIRK)) to the bill H.R. 3606, supra; which was ordered to lie on the table. amendment intended to be proposed by her was ordered to lie on the table. SA 1925. Mr. MERKLEY submitted an to the bill H.R. 3606, supra; which was or- SA 1916. Mr. CHAMBLISS submitted an amendment intended to be proposed to dered to lie on the table. amendment intended to be proposed to amendment SA 1884 submitted by Mr. SA 1939. Mr. DEMINT submitted an amend- amendment SA 1836 proposed by Mr. REID MERKLEY (for himself, Mr. BENNET, and Mr. ment intended to be proposed by him to the (for Ms. CANTWELL (for herself, Mr. JOHNSON BROWN of Massachusetts) and intended to be bill H.R. 3606, supra; which was ordered to lie of South Dakota, Mr. GRAHAM, Mr. SHELBY, proposed to the bill H.R. 3606, supra; which on the table. Mr. WARNER, Mr. SCHUMER, Mr. BROWN of was ordered to lie on the table. SA 1940. Mr. REID proposed an amendment Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, SA 1926. Mr. MERKLEY submitted an to the bill S. 2038, to prohibit Members of Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and amendment intended to be proposed to Congress and employees of Congress from Mr. KIRK)) to the bill H.R. 3606, supra; which amendment SA 1884 submitted by Mr. using nonpublic information derived from was ordered to lie on the table. MERKLEY (for himself, Mr. BENNET, and Mr. their official positions for personal benefit, SA 1917. Mr. CHAMBLISS submitted an BROWN of Massachusetts) and intended to be and for other purposes. amendment intended to be proposed to proposed to the bill H.R. 3606, supra; which SA 1941. Mr. REID proposed an amendment amendment SA 1836 proposed by Mr. REID was ordered to lie on the table. to amendment SA 1940 proposed by Mr. REID (for Ms. CANTWELL (for herself, Mr. JOHNSON SA 1927. Mr. MERKLEY submitted an to the bill S. 2038, supra. of South Dakota, Mr. GRAHAM, Mr. SHELBY, amendment intended to be proposed to SA 1942. Mr. REID proposed an amendment Mr. WARNER, Mr. SCHUMER, Mr. BROWN of amendment SA 1884 submitted by Mr. to the bill S. 2038, supra. Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, MERKLEY (for himself, Mr. BENNET, and Mr. SA 1943. Mr. REID proposed an amendment Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and BROWN of Massachusetts) and intended to be to amendment SA 1942 proposed by Mr. REID Mr. KIRK)) to the bill H.R. 3606, supra; which proposed to the bill H.R. 3606, supra; which to the bill S. 2038, supra. was ordered to lie on the table. was ordered to lie on the table. SA 1944. Mr. REID proposed an amendment SA 1918. Mr. CHAMBLISS submitted an SA 1928. Mr. MERKLEY submitted an to amendment SA 1943 proposed by Mr. REID amendment intended to be proposed to amendment intended to be proposed to to the amendment SA 1942 proposed by Mr. amendment SA 1836 proposed by Mr. REID amendment SA 1884 submitted by Mr. REID to the bill S. 2038, supra. (for Ms. CANTWELL (for herself, Mr. JOHNSON MERKLEY (for himself, Mr. BENNET, and Mr. f of South Dakota, Mr. GRAHAM, Mr. SHELBY, BROWN of Massachusetts) and intended to be Mr. WARNER, Mr. SCHUMER, Mr. BROWN of proposed to the bill H.R. 3606, supra; which TEXT OF AMENDMENTS Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, was ordered to lie on the table. SA 1904. Mr. DEMINT submitted an Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and SA 1929. Mr. MERKLEY submitted an amendment intended to be proposed by Mr. KIRK)) to the bill H.R. 3606, supra; which amendment intended to be proposed to him to the bill H.R. 3606, to increase was ordered to lie on the table. amendment SA 1848 submitted by Mr. LAU- American job creation and economic SA 1919. Mr. CHAMBLISS submitted an TENBERG and intended to be proposed to the amendment intended to be proposed to bill H.R. 3606, supra; which was ordered to lie growth by improving access to the pub- amendment SA 1836 proposed by Mr. REID on the table. lic capital markets for emerging (for Ms. CANTWELL (for herself, Mr. JOHNSON SA 1930. Mr. MERKLEY submitted an growth companies; which was ordered of South Dakota, Mr. GRAHAM, Mr. SHELBY, amendment intended to be proposed to to lie on the table; as follows: Mr. WARNER, Mr. SCHUMER, Mr. BROWN of amendment SA 1884 submitted by Mr. At the appropriate place, insert the fol- Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, MERKLEY (for himself, Mr. BENNET, and Mr. lowing: Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and BROWN of Massachusetts) and intended to be SEC. ll. REPEAL OF AUTHORITY TO PROVIDE Mr. KIRK)) to the bill H.R. 3606, supra; which proposed to the bill H.R. 3606, supra; which CERTAIN LOANS TO THE INTER- was ordered to lie on the table. was ordered to lie on the table. NATIONAL MONETARY FUND; PROHI- SA 1920. Mr. CHAMBLISS submitted an SA 1931. Mr. REED submitted an amend- BITION ON LOANS TO THE FUND amendment intended to be proposed to ment intended to be proposed by him to the FOR EUROPEAN FINANCIAL STA- amendment SA 1836 proposed by Mr. REID bill H.R. 3606, supra; which was ordered to lie BILITY. (for Ms. CANTWELL (for herself, Mr. JOHNSON on the table. (a) REPEAL OF AUTHORITY TO PROVIDE CER- of South Dakota, Mr. GRAHAM, Mr. SHELBY, SA 1932. Mr. REED submitted an amend- TAIN LOANS TO THE INTERNATIONAL MONETARY Mr. WARNER, Mr. SCHUMER, Mr. BROWN of ment intended to be proposed by him to the FUND AND INCREASE IN THE UNITED STATES Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, bill H.R. 3606, supra; which was ordered to lie QUOTA.— Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and on the table. (1) REPEAL OF AUTHORITIES.—The Bretton Mr. KIRK)) to the bill H.R. 3606, supra; which SA 1933. Mr. REED submitted an amend- Woods Agreements Act (22 U.S.C. 286 et seq.) was ordered to lie on the table. ment intended to be proposed by him to the is amended— SA 1921. Mr. CHAMBLISS submitted an bill H.R. 3606, supra; which was ordered to lie (A) in section 17— amendment intended to be proposed to on the table. (i) in subsection (a)— amendment SA 1836 proposed by Mr. REID SA 1934. Mr. PAUL submitted an amend- (I) by striking ‘‘(1) In order’’ and inserting (for Ms. CANTWELL (for herself, Mr. JOHNSON ment intended to be proposed to amendment ‘‘In order’’; and of South Dakota, Mr. GRAHAM, Mr. SHELBY, SA 1836 proposed by Mr. REID (for Ms. CANT- (II) by striking paragraphs (2), (3), and (4); Mr. WARNER, Mr. SCHUMER, Mr. BROWN of WELL (for herself, Mr. JOHNSON of South Da- and Ohio, Mrs. HAGAN, Mr. COONS, Mr. AKAKA, kota, Mr. GRAHAM, Mr. SHELBY, Mr. WARNER, (ii) in subsection (b)— Mrs. MURRAY, Ms. LANDRIEU, Mr. KERRY, and Mr. SCHUMER, Mr. BROWN of Ohio, Mrs. (I) by striking ‘‘(1) For the purpose’’ and Mr. KIRK)) to the bill H.R. 3606, supra; which HAGAN, Mr. COONS, Mr. AKAKA, Mrs. MURRAY, inserting ‘‘For the purpose’’; was ordered to lie on the table. Ms. LANDRIEU, Mr. KERRY, and Mr. KIRK)) to (II) by striking ‘‘subsection (a)(1)’’ and in- SA 1922. Mr. MCCAIN (for himself and Mrs. the bill H.R. 3606, supra; which was ordered serting ‘‘subsection (a)’’; and HAGAN) submitted an amendment intended to lie on the table. (III) by striking paragraph (2); to be proposed to amendment SA 1833 pro- SA 1935. Mr. CHAMBLISS submitted an (B) by striking sections 64, 65, 66, and 67; posed by Mr. REID (for Mr. REED (for himself, amendment intended to be proposed to and

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00035 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.023 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1852 CONGRESSIONAL RECORD — SENATE March 20, 2012 (C) by redesignating section 68 as section REID (for Ms. CANTWELL (for herself, cent fiscal year of the member state ending 64. Mr. JOHNSON of South Dakota, Mr. in the preceding calendar year, is not more (2) RESCISSION OF AMOUNTS.— GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. than 60 percent; or (A) IN GENERAL.—The unobligated balance ‘‘(2) for any new credit or liquidity facility, SCHUMER, Mr. BROWN of Ohio, Mrs. of the amounts specified in subparagraph or any new special purpose vehicle, related (B)— HAGAN, Mr. COONS, Mr. AKAKA, Mrs. to European financial stability.’’. (i) is rescinded; MURRAY, Ms. LANDRIEU, Mr. KERRY, (2) UNITED STATES OPPOSITION TO INTER- (ii) shall be deposited in the general fund of and Mr. KIRK)) to the bill H.R. 3606, to NATIONAL MONETARY FUND FINANCING FOR EU- the Treasury to be dedicated for the sole pur- increase American job creation and ROPEAN FINANCIAL STABILITY.—The Bretton pose of deficit reduction; and economic growth by improving access Woods Agreements Act (22 U.S.C. 286 et seq.), (iii) may not be used as an offset for other to the public capital markets for as amended by subsection (a)(1), is further spending increases or revenue reductions. emerging growth companies; which was amended by adding at the end the following: (B) AMOUNTS SPECIFIED.—The amounts ordered to lie on the table; as follows: ‘‘SEC. 65. OPPOSITION OF UNITED STATES TO specified in this subparagraph are the INTERNATIONAL MONETARY FUND amounts appropriated under the heading In lieu of the matter proposed to be in- FINANCING FOR EUROPEAN FINAN- ‘‘UNITED STATES QUOTA, INTERNATIONAL MON- serted, insert the following: CIAL STABILITY. ETARY FUND’’, and under the heading ‘‘LOANS TITLE VIII—INTERNATIONAL MONETARY ‘‘The Secretary of the Treasury shall in- TO INTERNATIONAL MONETARY FUND’’, under FUND struct the United States Executive Director the heading ‘‘INTERNATIONAL MONETARY SEC. 801. REPEAL OF AUTHORITY TO PROVIDE of the Fund to use the voice and vote of the PROGRAMS’’ under the heading ‘‘INTER- CERTAIN LOANS TO THE INTER- United States to oppose the provision of fi- NATIONAL ASSISTANCE PROGRAMS’’ in NATIONAL MONETARY FUND; PROHI- nancing by the Fund, directly or indirectly— title XIV of the Supplemental Appropria- BITION ON LOANS TO THE FUND ‘‘(1) to any member state of the European tions Act, 2009 (Public Law 111–32; 123 Stat. FOR EUROPEAN FINANCIAL STA- Union in a calendar year, until the ratio of BILITY. 1916). the total outstanding public debt of each (a) REPEAL OF AUTHORITY TO PROVIDE CER- (b) PROHIBITION ON UNITED STATES LOANS such member state to the gross domestic TAIN LOANS TO THE INTERNATIONAL MONETARY TO THE INTERNATIONAL MONETARY FUND TO product of the member state, as of the end of FUND AND INCREASE IN THE UNITED STATES BE USED FOR FINANCING FOR EUROPEAN FI- the most recent fiscal year of the member QUOTA.— NANCIAL STABILITY.— state ending in the preceding calendar year, (1) REPEAL OF AUTHORITIES.—The Bretton (1) IN GENERAL.—Section 17 of the Bretton is not more than 60 percent; or Woods Agreements Act (22 U.S.C. 286 et seq.) Woods Agreements Act (22 U.S.C. 286e–2), as ‘‘(2) for any new credit or liquidity facility, is amended— amended by subsection (a)(1), is further or any new special purpose vehicle, related (A) in section 17— amended by adding at the end the following: to European financial stability.’’. (i) in subsection (a)— ‘‘(e) RESTRICTION ON LOANS TO MEMBER (c) SENSE OF CONGRESS ON IMPLEMENTATION (I) by striking ‘‘(1) In order’’ and inserting STATES OF THE EUROPEAN UNION.—A loan OF DOUBLING OF UNITED STATES QUOTA IN THE ‘‘In order’’; and may not be made under this section in a cal- INTERNATIONAL MONETARY FUND.—It is the endar year to enable the International Mone- (II) by striking paragraphs (2), (3), and (4); sense of Congress that Congress should not tary Fund to provide financing, directly or and approve any legislation to implement the indirectly— (ii) in subsection (b)— December 15, 2010, vote of the Board of Gov- ‘‘(1) to any member state of the European (I) by striking ‘‘(1) For the purpose’’ and ernors of the International Monetary Fund Union, until the ratio of the total out- inserting ‘‘For the purpose’’; to double the quota of the United States in standing public debt of each such member (II) by striking ‘‘subsection (a)(1)’’ and in- the Fund. state to the gross domestic product of the serting ‘‘subsection (a)’’; and (III) by striking paragraph (2); member state, as of the end of the most re- SA 1906. Mr. DEMINT submitted an cent fiscal year of the member state ending (B) by striking sections 64, 65, 66, and 67; amendment intended to be proposed by in the preceding calendar year, is not more and (C) by redesignating section 68 as section him to the bill H.R. 3606, to increase than 60 percent; or American job creation and economic ‘‘(2) for any new credit or liquidity facility, 64. or any new special purpose vehicle, related (2) RESCISSION OF AMOUNTS.— growth by improving access to the pub- to European financial stability.’’. (A) IN GENERAL.—The unobligated balance lic capital markets for emerging (2) UNITED STATES OPPOSITION TO INTER- of the amounts specified in subparagraph growth companies; which was ordered NATIONAL MONETARY FUND FINANCING FOR EU- (B)— to lie on the table; as follows: (i) is rescinded; ROPEAN FINANCIAL STABILITY.—The Bretton At the appropriate place, insert the fol- (ii) shall be deposited in the general fund of Woods Agreements Act (22 U.S.C. 286 et seq.), lowing: the Treasury to be dedicated for the sole pur- as amended by subsection (a)(1), is further SEC. ll. REPEAL OF PPACA. amended by adding at the end the following: pose of deficit reduction; and (a) IN GENERAL.— ‘‘SEC. 65. OPPOSITION OF UNITED STATES TO (iii) may not be used as an offset for other spending increases or revenue reductions. (1) JOB-KILLING HEALTH CARE LAW.—Effec- INTERNATIONAL MONETARY FUND tive as of the enactment of Public Law 111– FINANCING FOR EUROPEAN FINAN- (B) AMOUNTS SPECIFIED.—The amounts CIAL STABILITY. specified in this subparagraph are the 148, such Act is repealed, and the provisions ‘‘The Secretary of the Treasury shall in- amounts appropriated under the heading of law amended or repealed by such Act are struct the United States Executive Director ‘‘UNITED STATES QUOTA, INTERNATIONAL MON- restored or revived as if such Act had not of the Fund to use the voice and vote of the ETARY FUND’’, and under the heading ‘‘LOANS been enacted. United States to oppose the provision of fi- TO INTERNATIONAL MONETARY FUND’’, under (2) HEALTH CARE-RELATED PROVISIONS IN nancing by the Fund, directly or indirectly— the heading ‘‘INTERNATIONAL MONETARY THE HEALTH CARE AND EDUCATION RECONCILI- ‘‘(1) to any member state of the European PROGRAMS’’ under the heading ‘‘INTER- ATION ACT OF 2010.—Effective as of the enact- Union in a calendar year, until the ratio of NATIONAL ASSISTANCE PROGRAMS’’ in ment of the Health Care and Education Rec- the total outstanding public debt of each title XIV of the Supplemental Appropria- onciliation Act of 2010 (Public Law 111–152), such member state to the gross domestic tions Act, 2009 (Public Law 111–32; 123 Stat. title I and subtitle B of title II of such Act product of the member state, as of the end of 1916). are repealed, and the provisions of law the most recent fiscal year of the member (b) PROHIBITION ON UNITED STATES LOANS amended or repealed by such title or sub- state ending in the preceding calendar year, TO THE INTERNATIONAL MONETARY FUND TO title, respectively, are restored or revived as is not more than 60 percent; or BE USED FOR FINANCING FOR EUROPEAN FI- if such title and subtitle had not been en- ‘‘(2) for any new credit or liquidity facility, NANCIAL STABILITY.— acted. or any new special purpose vehicle, related (1) IN GENERAL.—Section 17 of the Bretton (b) BUDGETARY EFFECTS OF THIS ACT.—The to European financial stability.’’. Woods Agreements Act (22 U.S.C. 286e–2), as budgetary effects of this section, for the pur- (c) SENSE OF CONGRESS ON IMPLEMENTATION amended by subsection (a)(1), is further pose of complying with the Statutory Pay- OF DOUBLING OF UNITED STATES QUOTA IN THE amended by adding at the end the following: As-You-Go Act of 2010, shall be determined INTERNATIONAL MONETARY FUND.—It is the ‘‘(e) RESTRICTION ON LOANS TO MEMBER by reference to the latest statement titled sense of Congress that Congress should not STATES OF THE EUROPEAN UNION.—A loan ‘‘Budgetary Effects of PAYGO Legislation’’ approve any legislation to implement the may not be made under this section in a cal- for this section, submitted for printing in December 15, 2010, vote of the Board of Gov- endar year to enable the International Mone- the Congressional Record by the Chairman of ernors of the International Monetary Fund tary Fund to provide financing, directly or the Committee on the Budget of the House of to double the quota of the United States in indirectly— Representatives, as long as such statement the Fund. ‘‘(1) to any member state of the European has been submitted prior to the vote on pas- Union, until the ratio of the total out- sage of this Act. SA 1905. Mr. DEMINT submitted an standing public debt of each such member amendment intended to be proposed to state to the gross domestic product of the SA 1907. Mr. DEMINT submitted an amendment SA 1836 proposed by Mr. member state, as of the end of the most re- amendment intended to be proposed to

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00036 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.026 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1853 amendment SA 1836 proposed by Mr. insurance, or extension of credit, or partici- spouse of that person, at the time of the pur- REID (for Ms. CANTWELL (for herself, pation in any extension of credit) by the chase that exceeds $3,000,000, or such higher Mr. JOHNSON of South Dakota, Mr. Bank for a transaction that is subject to ap- amount as the Commission may determine proval by the Board unless, as a condition of better serves the public interest; GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. providing such financing, the Bank requires (2) to include a natural person under sec- SCHUMER, Mr. BROWN of Ohio, Mrs. the applicant to submit the following infor- tion 230.501(a)(6) of title 17, Code of Federal HAGAN, Mr. COONS, Mr. AKAKA, Mrs. mation: Regulations, only if the person— MURRAY, Ms. LANDRIEU, Mr. KERRY, ‘‘(A) The number of individuals employed (A) had an individual income in excess of and Mr. KIRK)) to the bill H.R. 3606, to by the primary exporter involved with the $600,000 in each of the 2 most recently com- increase American job creation and transaction in the United States. pleted calendar years, or joint income with economic growth by improving access ‘‘(B) The number of individuals employed the spouse of that person in excess of $900,000 to the public capital markets for by the primary exporter involved with the in each of those years; and transaction outside the United States. (B) has a reasonable expectation of reach- emerging growth companies; which was ‘‘(2) CERTIFICATIONS FROM ENTITIES RECEIV- ing the same income level in the current ordered to lie on the table; as follows: ING FINANCING.— year, or such higher amounts as the Commis- In lieu of the matter proposed to be in- ‘‘(A) IN GENERAL.—Not later than 1 year sion may determine better serve the public serted, insert the following: after the Board of Directors of the Bank ap- interest; and TITLEll MISCELLANEOUS PROVISIONS proves an application submitted by an entity (3) to increase the amounts specified in SEC. l1. REPEAL OF PPACA. for financing for a transaction described in paragraphs (1) and (2) (or such higher amounts as the Commission may determine (a) IN GENERAL.— paragraph (1), and annually thereafter until better serve the public interest) not less (1) JOB-KILLING HEALTH CARE LAW.—Effec- the entity no longer receives financing from tive as of the enactment of Public Law 111– the Bank, the entity to which the financing than frequently than annually, at a rate at 148, such Act is repealed, and the provisions was provided shall submit to the Bank a least equal to the rate of any growth in the of law amended or repealed by such Act are written certification of— gross national product for the preceding year. restored or revived as if such Act had not ‘‘(i) the percentage of the workforce of the been enacted. primary exporter involved with the trans- action employed in the United States that SA 1910. Mrs. FEINSTEIN submitted (2) HEALTH CARE-RELATED PROVISIONS IN an amendment intended to be proposed THE HEALTH CARE AND EDUCATION RECONCILI- was separated from employment by the ex- to amendment SA 1833 proposed by Mr. ATION ACT OF 2010.—Effective as of the enact- porter during the year preceding the submis- ment of the Health Care and Education Rec- sion of the report; and REID (for Mr. REED (for himself, Ms. onciliation Act of 2010 (Public Law 111–152), ‘‘(ii) the percentage of the total workforce LANDRIEU, Mr. LEVIN, Mr. BROWN of title I and subtitle B of title II of such Act of the primary exporter involved with the Ohio, Mr. MERKLEY, Mr. AKAKA, Mr. are repealed, and the provisions of law transaction that was separated from employ- WHITEHOUSE, Mr. FRANKEN, Mr. HAR- amended or repealed by such title or sub- ment by the exporter during the preceding KIN, Mr. DURBIN, and Mrs. SHAHEEN)) to title, respectively, are restored or revived as year. the bill H.R. 3606, to increase American ‘‘(B) TERMINATION OF ASSISTANCE TO CER- if such title and subtitle had not been en- job creation and economic growth by TAIN ENTITIES.—If an entity to which financ- acted. improving access to the public capital (b) BUDGETARY EFFECTS OF THIS ACT.—The ing was provided for a transaction described budgetary effects of this section, for the pur- in paragraph (1) submits a certification to markets for emerging growth compa- pose of complying with the Statutory Pay- the Bank under subparagraph (A) in which nies; which was ordered to lie on the As-You-Go Act of 2010, shall be determined the percentage described in clause (i) of that table; as follows: by reference to the latest statement titled subparagraph is greater than the percentage On page 10, line 1, strike ‘‘$350,000,000’’ and ‘‘Budgetary Effects of PAYGO Legislation’’ described in clause (ii) of that subparagraph, all that follows through page 11, line 22 and for this section, submitted for printing in the Bank may not provide any additional fi- insert the following: ‘‘$200,000,000 during its the Congressional Record by the Chairman of nancing to that entity until the entity sub- most recently completed fiscal year. An the Committee on the Budget of the House of mits a certification under subparagraph (A) issuer that is an emerging growth company Representatives, as long as such statement in which the percentage described in clause as of the first day of that fiscal year and that has been submitted prior to the vote on pas- (i) of that subparagraph is not greater than has completed a sale of common equity secu- sage of this Act. the percentage described in clause (ii) of that rities pursuant to an effective registration subparagraph. statement under this title shall continue to SA 1908. Mr. SANDERS submitted an ‘‘(C) FAILURE TO SUBMIT CERTIFICATIONS; be deemed an emerging growth company amendment intended to be proposed to FALSE CERTIFICATIONS.—If an entity to which until the earliest of— amendment SA 1836 proposed by Mr. financing was provided for a transaction de- ‘‘(A) the last day of the fiscal year of the scribed in paragraph (1) does not submit a issuer during which it had total annual gross REID (for Ms. CANTWELL (for herself, certification required by subparagraph (A) to revenues of $200,000,000 or more; Mr. JOHNSON of South Dakota, Mr. the Bank by the date on which the certifi- ‘‘(B) the last day of the fiscal year of the GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. cation is due, or submits a false certification issuer in which the fifth anniversary of the SCHUMER, Mr. BROWN of Ohio, Mrs. under that subparagraph, the Bank— date of the first sale of common equity secu- HAGAN, Mr. COONS, Mr. AKAKA, Mrs. ‘‘(i) shall terminate all financing provided rities of the issuer pursuant to an effective MURRAY, Ms. LANDRIEU, Mr. KERRY, to the entity on and after the date that is 60 registration statement under this title oc- curs; and Mr. KIRK)) to the bill H.R. 3606, to days after the date on which the certifi- cation was due; and ‘‘(C) the date on which such issuer is increase American job creation and deemed to be a ‘large accelerated filer’, as economic growth by improving access ‘‘(ii) may not provide any additional fi- nancing to that entity.’’. defined in section 240.12b–2 of title 17, Code of to the public capital markets for Federal Regulations (or any successor there- emerging growth companies; which was SA 1909. Mr. AKAKA submitted an to); or ordered to lie on the table; as follows: amendment intended to be proposed by ‘‘(D) the date on which the issuer has, dur- At the end of the amendment, add the fol- him to the bill H.R. 3606, to increase ing the previous 3-year period, issued in ex- lowing: American job creation and economic cess of an aggregate of $1,000,000,000 of secu- rities, other than common equity, whether SEC. 817. INFORMATION AND CERTIFICATIONS growth by improving access to the pub- or not such securities were issued in trans- ABOUT WORKFORCE NUMBERS RE- lic capital markets for emerging QUIRED FROM ENTITIES SEEKING actions registered under this title.’’. OR RECEIVING FINANCING FROM growth companies; which was ordered (b) SECURITIES EXCHANGE ACT OF 1934.— THE EXPORT-IMPORT BANK OF THE to lie on the table; as follows: Section 3(a) of the Securities Exchange Act UNITED STATES. On page 24, between lines 11 and 12, insert of 1934 (15 U.S.C. 78c(a)) is amended— Section 2 of the Export-Import Bank Act of the following: (1) by redesignating the second paragraph 1945 (12 U.S.C. 635) is amended by adding at (d) DEFINITION OF ACCREDITED INVESTOR designated as paragraph (77) (relating to the end the following: RULES.—Not later than the date on which asset-backed securities) as paragraph (79); ‘‘(i) INFORMATION AND CERTIFICATIONS the Commission revises its rules pursuant to and ABOUT WORKFORCE NUMBERS REQUIRED FROM subsection (a), the Commission shall, by rule (2) by adding at the end the following: ENTITIES SEEKING OR RECEIVING FINANCING.— or regulation, revise its rules to modify the ‘‘(80) The term ‘emerging growth company’ ‘‘(1) INFORMATION REQUIRED FROM ENTITIES definition of the term ‘‘accredited investor’’ means an issuer that had total annual gross SEEKING FINANCING.—The Board of Directors in section 230.501 of title 17, Code of Federal revenues of less than $200,000,000 during its of the Bank may not approve an application Regulations— most recently completed fiscal year. An submitted on or after the date that is 90 days (1) to include a natural person under sec- issuer that is an emerging growth company after the date of the enactment of the Ex- tion 230.501(a)(5) of title 17, Code of Federal as of the first day of that fiscal year and that port-Import Bank Reauthorization Act of Regulations, only if the person has an indi- has completed a sale of common equity secu- 2012 for financing (including any guarantee, vidual net worth, or joint net worth with the rities pursuant to an effective registration

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00037 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.027 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1854 CONGRESSIONAL RECORD — SENATE March 20, 2012 statement under the Securities Act of 1933 Comptroller General of the United States ‘‘(F) The effects of the guidelines on the shall continue to be deemed an emerging shall submit to Congress a written analysis manufacturing workforce and service work- growth company until the earliest of— of the report and business plan submitted force of the United States. ‘‘(A) the last day of the fiscal year of the under subsection (a), which shall include ‘‘(G) The effect of changes to current Bank issuer during which it had total annual gross such recommendations with respect to the content requirements on the incentive for revenues of $200,000,000 or more; report and business plan as the Comptroller companies to create and maintain operations General deems appropriate. in the United States in order to increase the SA 1911. Mrs. FEINSTEIN submitted employment of workers in the United States. an amendment intended to be proposed SA 1913. Mr. CHAMBLISS submitted ‘‘(3) SEPARATE GUIDELINES.— to amendment SA 1833 proposed by Mr. an amendment intended to be proposed ‘‘(A) The Bank may establish separate REID (for Mr. REED (for himself, Ms. to amendment SA 1836 proposed by Mr. guidelines under this subsection for services LANDRIEU, Mr. LEVIN, Mr. BROWN of REID (for Ms. CANTWELL (for herself, and for goods. ‘‘(B) The Bank may establish separate Ohio, Mr. MERKLEY, Mr. AKAKA, Mr. Mr. JOHNSON of South Dakota, Mr. guidelines under this subsection for small WHITEHOUSE, Mr. FRANKEN, Mr. HAR- GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. business concerns (as defined in section 3(a) KIN, Mr. DURBIN, and Mrs. SHAHEEN)) to SCHUMER, Mr. BROWN of Ohio, Mrs. of the Small Business Act). the bill H.R. 3606, to increase American HAGAN, Mr. COONS, Mr. AKAKA, Mrs. ‘‘(C) The Bank may continue separate job creation and economic growth by MURRAY, Ms. LANDRIEU, Mr. KERRY, guidelines under this subsection with respect improving access to the public capital and Mr. KIRK)) to the bill H.R. 3606, to to different terms and products. markets for emerging growth compa- increase American job creation and ‘‘(4) CERTIFICATION THAT DOMESTIC CONTENT nies; which was ordered to lie on the economic growth by improving access HAS NOT BEEN REDUCED BECAUSE OF THE table; as follows: GUIDELINES.—In determining whether to pro- to the public capital markets for vide financing for a proposed transaction, On page 13 line 14, strike ‘‘2 years’’ and in- emerging growth companies; which was the exporter shall certify that the domestic sert ‘‘3 years’’. ordered to lie on the table; as follows: content of a good has not been reduced solely SA 1912. Mr. CHAMBLISS submitted Strike section 809 of the amendment and as a result of the guidelines. an amendment intended to be proposed insert the following: ‘‘(5) PROCEDURAL PROVISIONS.—Within 60 SEC. 809. CONTENT GUIDELINES FOR THE PROVI- days after the date of the enactment of this to amendment SA 1836 proposed by Mr. SION OF FINANCING BY THE EX- Act, the Bank shall publish a notice with re- REID (for Ms. CANTWELL (for herself, PORT-IMPORT BANK OF THE UNITED spect to the issuance or modification of Mr. JOHNSON of South Dakota, Mr. STATES. guidelines under this subsection. Within 60 GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. Section 2 of the Export-Import Bank Act of days after the end of the public comment pe- SCHUMER, Mr. BROWN of Ohio, Mrs. 1945 (12 U.S.C. 635) is amended by adding at riod otherwise required by law with respect the end the following: HAGAN, Mr. COONS, Mr. AKAKA, Mrs. to the issuance or modification of the guide- ‘‘(i) CONTENT GUIDELINES FOR THE PROVI- MURRAY, Ms. LANDRIEU, Mr. KERRY, lines, the Bank shall submit to the Congress, SION OF FINANCING.— for its review, the guidelines in proposed and Mr. KIRK)) to the bill H.R. 3606, to ‘‘(1) IN GENERAL.—The Bank shall, after no- increase American job creation and final form. At the end of the 60-day period tice and comment and Board approval, estab- that begins with the date the proposed final economic growth by improving access lish clear and comprehensive guidelines with guidelines are so submitted, the proposed to the public capital markets for respect to the content of the goods and serv- final guidelines shall be considered a final emerging growth companies; which was ices involved in a transaction for which the agency action for all purposes and shall take ordered to lie on the table; as follows: Bank will provide financing, which shall be effect and be implemented immediately. At the end of the amendment, add the fol- aimed at ensuring that the Bank enables ‘‘(6) TERM.—Every 2 years, the Bank shall lowing: companies with operations in the United review and, as appropriate, modify the guide- States to maintain and create jobs in the SEC. 817. EXPORT-IMPORT BANK EXPOSURE lines, subject to paragraph (5). LIMIT BUSINESS PLAN. United States and contribute to a stronger ‘‘(7) REPORT TO CONGRESS.—Within 1 year (a) IN GENERAL.—Not later than August 31, national economy through the export of after the implementation of new or modified 2012, the Export-Import Bank of the United their goods and services. guidelines under this subsection, the Inspec- States shall submit to Congress and the ‘‘(2) REQUIRED CONSIDERATIONS.—In estab- tor General of the Bank shall submit to the Comptroller General of the United States a lishing the guidelines, the Bank shall take Congress a report evaluating the guidelines, written report that contains the following: into account such considerations as the which shall include— (1) A business plan that— Bank deems relevant to meet the purposes ‘‘(A) a discussion of the considerations re- (A) includes a proposal by the Bank that described in paragraph (1), including the fol- quired to be taken into account in estab- recommends the appropriate exposure limit lowing: lishing the guidelines, a comparison of how of the Bank for 2012, 2013, 2014, 2015 and be- ‘‘(A) The needs of different industry sec- the guidelines reflect each consideration, yond; tors to obtain financing from the Bank for and a description of the extent to which the (B) justifies the recommendations of the exporting their products or services in order guidelines enabled companies with oper- Bank for the appropriate exposure limit; and to create and maintain jobs in the United ations in the United States who submitted (C) details any anticipated growth of the States. an application for financing from the Bank Bank for 2012, 2013, 2014, 2015, and beyond— ‘‘(B) The ability of companies with oper- to maintain and create jobs in the United (i) by industry sector; ations in the United States to compete effec- States and contribute to a stronger national (ii) by whether the products involved are tively for export opportunities that will cre- economy through the export of their goods short-term loans, medium-term loans, long- ate and maintain jobs in the United States, and services; term loans, insurance, medium-term guaran- particularly with respect to the Bank’s con- ‘‘(B) a description of the effect of the tees, or long-term guarantees; and tent requirements and co-financing arrange- guidelines on the number of domestic jobs to (iii) by key market. ments. be supported, the kinds of domestic jobs to (2) An analysis of the potential for in- ‘‘(C) The totality of support, including fi- be supported, including their duration and creased or decreased risk of loss to the Bank nancing and subsidies, extended by export geographic location, and the existence and as a result of the proposed exposure limit, in- credit agencies to support the exports of nature of any transfers of technology or pro- cluding an analysis of increased or decreased goods and services, as well as key differences duction; and risks associated with changes in the com- in, types of trade-offs among, and national ‘‘(C) recommendations for how the guide- position of Bank exposure, by industry sec- trade promotion strategies of OECD member lines could be modified to better facilitate tor, by product offered, and by key market. countries and of non-OECD member coun- exports of goods and services from the (3) An analysis of the ability of the Bank tries. United States in order to maintain and cre- to meet its small business and sub-Saharan ‘‘(D) Recommendations from the advisory ate jobs in the United States and contribute Africa mandates and comply with its carbon committee established under section 3(d), in- to a stronger national economy.’’. policy mandate under the proposed exposure cluding any dissenting views. limit, and an analysis of any increased or de- ‘‘(E) Any findings or recommendations of SA 1914. Mr. CHAMBLISS submitted creased risk of loss associated with meeting the Government Accountability Office per- an amendment intended to be proposed or complying with the mandates under the taining to the ability of the Bank to provide to amendment SA 1836 proposed by Mr. proposed exposure limit. financing that is competitive with the fi- REID (for Ms. CANTWELL (for herself, nancing provided by foreign export credit (4) An analysis of the ability of the Bank Mr. JOHNSON of South Dakota, Mr. to process, approve, and monitor authoriza- agencies, to enable companies with oper- GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. tions, including the conducting of required ations in the United States to contribute to economic impact analysis, under the pro- a stronger United States economy by main- SCHUMER, Mr. BROWN of Ohio, Mrs. posed exposure limit. taining or increasing the employment of HAGAN, Mr. COONS, Mr. AKAKA, Mrs. (b) GAO REVIEW OF REPORT AND BUSINESS workers in the United States through the ex- MURRAY, Ms. LANDRIEU, Mr. KERRY, PLAN.—Not later than December 31, 2012, the port of goods and services. and Mr. KIRK)) to the bill H.R. 3606, to

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PERIODIC AUDITS OF TRANSACTIONS ‘‘(III) the amount of the loan or guarantee; economic growth by improving access OF THE EXPORT-IMPORT BANK OF ‘‘(IV) the number of aircraft that would be THE UNITED STATES. produced as a result of the provision of the to the public capital markets for (a) IN GENERAL.—Not later than 2 years emerging growth companies; which was loan or guarantee. after the date of the enactment of this Act, ‘‘(B) PROCEDURE REGARDING MATERIALLY ordered to lie on the table; as follows: and periodically (but not less frequently CHANGED APPLICATIONS.—If a material change At the end of the amendment, add the fol- than every 4 years) thereafter, the Comp- is made to an application to which subpara- lowing: troller General of the United States shall graph (A)(i) applies, after a notice with re- conduct an audit of the loan and guarantee SEC. 817. NON-SUBORDINATION REQUIREMENT. spect to the application is published under transactions of the Export-Import Bank of Section 2 of the Export-Import Bank Act of subparagraph (A)(i)(I), the Bank shall pub- the United States to determine the compli- lish in the Federal Register a revised notice 1945 (12 U.S.C. 635) is amended by adding at ance of the Bank with the underwriting the end the following: of the application and provide for an addi- guidelines, lending policies, due diligence tional comment period as provided in sub- ‘‘(i) NON-SUBORDINATION REQUIREMENT.—In procedures, and content guidelines of the entering into financing contracts, the Bank paragraph (A)(i)(II). Bank. ‘‘(C) REQUIREMENT TO ADDRESS VIEWS OF AD- shall seek a creditor status which is not sub- (b) REVIEW OF FRAUD CONTROLS.—The VERSELY AFFECTED PERSONS.—Before taking ordinate to that of all other creditors, in Comptroller General of the United States final action on an application to which sub- order to reduce the risk to, and enhance re- shall review the adequacy of the design and paragraph (A)(i) applies, the staff of the coveries for, the Bank.’’. effectiveness of the controls used by the Ex- Bank shall provide in writing to the Board of port-Import Bank of the United States to Directors the views of any person who sub- SA 1915. Mr. CHAMBLISS submitted prevent, detect, and investigate fraudulent mitted comments on the application pursu- an amendment intended to be proposed applications for loans and guarantees, in- ant to this paragraph. to amendment SA 1836 proposed by Mr. cluding by auditing a sample of Bank trans- ‘‘(D) PUBLICATION OF CONCLUSIONS.—Within REID (for Ms. CANTWELL (for herself, actions, and submit to Congress a written re- 30 days after a party affected by a final deci- Mr. JOHNSON of South Dakota, Mr. port that contains such recommendations sion of the Board of Directors with respect to with respect to the controls as the Comp- GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. a loan or guarantee to which subparagraph troller General deems appropriate. (A)(i) applies makes a written request there- SCHUMER, Mr. BROWN of Ohio, Mrs. for, the Bank shall provide to the affected HAGAN, Mr. COONS, Mr. AKAKA, Mrs. SA 1917. Mr. CHAMBLISS submitted party a non-confidential summary of the MURRAY, Ms. LANDRIEU, Mr. KERRY, an amendment intended to be proposed facts found and conclusions reached in any and Mr. KIRK)) to the bill H.R. 3606, to to amendment SA 1836 proposed by Mr. detailed economic impact analysis or similar increase American job creation and REID (for Ms. CANTWELL (for herself, study with respect to the loan or guarantee, economic growth by improving access Mr. JOHNSON of South Dakota, Mr. that was submitted to the Board of Direc- tors. to the public capital markets for GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. ‘‘(2) DEFINITIONS.—In this subsection: emerging growth companies; which was SCHUMER, Mr. BROWN of Ohio, Mrs. ordered to lie on the table; as follows: ‘‘(A) LARGE AIR CARRIER AIRCRAFT.—The HAGAN, Mr. COONS, Mr. AKAKA, Mrs. term ‘large air carrier aircraft’, means an At the end of the amendment, add the fol- MURRAY, Ms. LANDRIEU, Mr. KERRY, aircraft designed to hold seats for at least 31 lowing: and Mr. KIRK)) to the bill H.R. 3606, to passengers. SEC. 817. IMPROVEMENT OF METHOD FOR CAL- increase American job creation and ‘‘(B) MATERIAL CHANGE.—The term ‘mate- CULATING THE EFFECTS OF FINANC- economic growth by improving access rial change’, with respect to an application ING BY THE EXPORT-IMPORT BANK to the public capital markets for for a loan or guarantee that may be used in OF THE UNITED STATES ON JOB whole or in part to purchase large air carrier CREATION AND MAINTENANCE IN emerging growth companies; which was THE UNITED STATES. aircraft, includes— ordered to lie on the table; as follows: ‘‘(i) a change of at least 25 percent in the (a) GAO STUDY.—The Comptroller General At the end of the amendment, add the fol- amount of a loan or guarantee requested in of the United States shall conduct a study of lowing: the application; and the process and methodology used by the Ex- SEC. 817. FOREIGN AIR CARRIERS ECONOMIC IM- ‘‘(ii) a change in the type or number of air- port-Import Bank of the United States (in PACT ANALYSES. craft to be produced as a result of any trans- this section referred to as the ‘‘Bank’’) to Section 2 of the Export-Import Bank Act of action that would be facilitated by the provi- calculate the effects of the provision of fi- 1945 (12 U.S.C. 635) is amended by adding at sion of the loan or guarantee.’’. nancing by the Bank on the creation and the end the following: maintenance of employment in the United ‘‘(i) FOREIGN AIR CARRIERS ECONOMIC IM- SA 1918. Mr. CHAMBLISS submitted States, determine and assess the basis on PACT ANALYSES.— an amendment intended to be proposed which the Bank has used that methodology, ‘‘(1) PROCEDURES TO REDUCE ADVERSE EF- to amendment SA 1836 proposed by Mr. and make any recommendations the Comp- FECTS OF LOANS AND GUARANTEES.— REID (for Ms. CANTWELL (for herself, troller General deems appropriate. ‘‘(A) NOTICE AND COMMENT REQUIREMENTS.— Mr. JOHNSON of South Dakota, Mr. (b) REPORT.—Not later than 1 year after ‘‘(i) IN GENERAL.—Before considering or ap- the date of the enactment of this Act, the proving any application for a loan or finan- GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. Comptroller General shall submit to Con- cial guarantee that may be used in whole or SCHUMER, Mr. BROWN of Ohio, Mrs. gress and the Bank the results of the study in part to purchase large air carrier aircraft, HAGAN, Mr. COONS, Mr. AKAKA, Mrs. required by subsection (a). the Bank shall— MURRAY, Ms. LANDRIEU, Mr. KERRY, (c) IMPLEMENTATION OF RECOMMENDA- ‘‘(I) publish in the Federal Register a no- and Mr. KIRK)) to the bill H.R. 3606, to TIONS.—If the report submitted pursuant to tice of the application; increase American job creation and subsection (b) includes recommendations, ‘‘(II) provide a period of not less than 14 economic growth by improving access the Bank may establish a more accurate days (which, on request by any affected to the public capital markets for methodology of the kind described in sub- party, shall be extended to a period of not emerging growth companies; which was section (a) based on the recommendations. more than 30 days) for the submission to the Bank of comments on the economic or other ordered to lie on the table; as follows: SA 1916. Mr. CHAMBLISS submitted potentially adverse effects of the provision At the end of the amendment, add the fol- an amendment intended to be proposed of the loan or guarantee; and lowing: to amendment SA 1836 proposed by Mr. ‘‘(III) seek comments on the economic or SEC. 817. PUBLICATION OF GUIDELINES FOR ECONOMIC IMPACT ANALYSES AND REID (for Ms. CANTWELL (for herself, other potentially adverse effects of the pro- vision of the loan or guarantee from the De- DOCUMENTATION OF SUCH ANAL- Mr. JOHNSON of South Dakota, Mr. YSES. partment of Commerce, the Office of Man- (a) PUBLICATION OF GUIDELINES.—Not later GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. agement and Budget, the Committee on SCHUMER, Mr. BROWN of Ohio, Mrs. than 90 days after the date of the enactment Banking, Housing, and Urban Affairs of the of this Act, the Export-Import Bank of the HAGAN, Mr. COONS, Mr. AKAKA, Mrs. Senate, and the Committee on Financial United States shall develop and make pub- MURRAY, Ms. LANDRIEU, Mr. KERRY, Services of the House of Representatives. licly available methodological guidelines to and Mr. KIRK)) to the bill H.R. 3606, to ‘‘(ii) CONTENT OF NOTICE.—The notice pub- be used by the Bank in conducting economic increase American job creation and lished under clause (i)(I) with respect to an impact analyses or similar studies under sec- economic growth by improving access application for a loan or financial guarantee tion 2(e) of the Export-Import Bank Act of to the public capital markets for that may be used in whole or in part to pur- 1945 (12 U.S.C. 635(e)). In developing the chase large air carrier aircraft shall include emerging growth companies; which was guidelines, the Bank shall take into consid- appropriate information about— eration any relevant guidance from the Of- ordered to lie on the table; as follows: ‘‘(I) the country to which the aircraft will fice of Management and Budget. At the end of the amendment, add the fol- be shipped; (b) MAINTENANCE OF DOCUMENTATION.—Sec- lowing: ‘‘(II) the type of aircraft being exported; tion 2(e)(7) of the Export-Import Bank Act of

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00039 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.029 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1856 CONGRESSIONAL RECORD — SENATE March 20, 2012 1945 (12 U.S.C. 635(e)(7)) is amended by redes- Housing, and Urban Affairs of the Senate, SA 1922. Mr. MCCAIN (for himself and ignating subparagraphs (E) and (F) as sub- and the Committee on Financial Services of Mrs. HAGAN) submitted an amendment paragraphs (F) and (G), respectively, and in- the House of Representatives a report that intended to be proposed to amendment serting after subparagraph (D) the following: evaluates— SA 1833 proposed by Mr. REID (for Mr. ‘‘(E) MAINTENANCE OF DOCUMENTATION.— (1) the history of the rate of growth of the REED (for himself, Ms. LANDRIEU, Mr. The Bank shall maintain documentation re- Bank, and its causes, with specific consider- lating to economic impact analyses and ation given to— LEVIN, Mr. BROWN of Ohio, Mr. similar studies conducted under this sub- (A) the capital market conditions for ex- MERKLEY, Mr. AKAKA, Mr. WHITEHOUSE, section in a manner consistent with the port financing; Mr. FRANKEN, Mr. HARKIN, Mr. DURBIN, Standards for Internal Control of the Federal (B) increased competition from foreign ex- and Mrs. SHAHEEN)) to the bill H.R. Government issued by the Comptroller Gen- port credit agencies; 3606, to increase American job creation eral of the United States.’’. (C) the rate of growth of the Bank from and economic growth by improving ac- 2008 to the present; cess to the public capital markets for SA 1919. Mr. CHAMBLISS submitted (2) the effectiveness of the Bank’s risk emerging growth companies; which was an amendment intended to be proposed management, including— ordered to lie on the table; as follows: (A) potential for losses from each of the to amendment SA 1836 proposed by Mr. At the end, add the following: REID (for Ms. CANTWELL (for herself, products offered by the Bank; and (B) the overall risk of the Bank’s portfolio, TITLE ll—FOREIGN EARNINGS Mr. JOHNSON of South Dakota, Mr. taking into account— REINVESTMENT RAHAM HELBY ARNER G , Mr. S , Mr. W , Mr. (i) market risk; SEC. l01. SHORT TITLE. SCHUMER, Mr. BROWN of Ohio, Mrs. (ii) credit risk; This title may be cited as the ‘‘Foreign HAGAN, Mr. COONS, Mr. AKAKA, Mrs. (iii) political risk; Earnings Reinvestment Act’’. MURRAY, Ms. LANDRIEU, Mr. KERRY, (iv) industry-concentration risk; SEC. ll. ALLOWANCE OF TEMPORARY DIVI- and Mr. KIRK)) to the bill H.R. 3606, to (v) geographic-concentration risk; DENDS RECEIVED DEDUCTION FOR increase American job creation and (vi) obligor-concentration risk; and DIVIDENDS RECEIVED FROM A CON- (vii) foreign-currency risk; TROLLED FOREIGN CORPORATION. economic growth by improving access (a) APPLICABILITY OF PROVISION.— (3) the Bank’s use of historical default and to the public capital markets for (1) IN GENERAL.—Subsection (f) of section recovery rates to calculate future program 965 is amended to read as follows: emerging growth companies; which was costs, taking into consideration cost esti- ‘‘(f) ELECTION; ELECTION YEAR.— ordered to lie on the table; as follows: mates determined under the Federal Credit ‘‘(1) IN GENERAL.—The taxpayer may elect At the end of the amendment, add the fol- Reform Act of 1990 (2 U.S.C. 661 et seq.) and to apply this section to— lowing: whether discount rates applied to cost esti- ‘‘(A) the taxpayer’s last taxable year which SEC. 817. DISCLOSURE REQUIREMENT FOR mates should reflect the risks described in begins before the date of the enactment of BOARD MEETINGS. paragraph (2); the Foreign Earnings Reinvestment Act, or Section 3(c)(9) of the Export-Import Bank (4) the fees charged by the Bank for the ‘‘(B) the taxpayer’s first taxable year Act of 1945 (12 U.S.C. 635a(c)(9)) is amended products the Bank offers, whether the which begins during the 1-year period begin- by adding at the end the following new sen- Bank’s fees properly reflect the risks de- ning on such date. tence: ‘‘Not later than 25 days before any scribed in paragraph (2), and how the fees are Such election may be made for a taxable meeting of the Board for final consideration affected by United States participation in year only if made on or before the due date of a transaction the value of which exceeds international agreements; and (including extensions) for filing the return of $75,000,000, and concurrent with any state- (5) whether the Bank’s loan loss reserves tax for such taxable year. ment required to be submitted under section policy is sufficient to cover the risks de- ‘‘(C) ELECTION YEAR.—For purposes of this 2(b)(3) with respect to the transaction, the scribed in paragraph (2). Bank shall post a notice on the website of section, the term ‘election year’ means the the Bank that includes a description of the SA 1921. Mr. CHAMBLISS submitted taxable year— ‘‘(i) which begins after the date that is one item proposed to be financed, the identities an amendment intended to be proposed year before the date of the enactment of the of the obligor, principal supplier, and guar- to amendment SA 1836 proposed by Mr. Foreign Earnings Reinvestment Act, and antor, and a description of any item with re- REID (for Ms. CANTWELL (for herself, ‘‘(ii) to which the taxpayer elects under spect to which Bank financing is being Mr. JOHNSON of South Dakota, Mr. paragraph (1) to apply this section.’’. sought, in a manner that does not disclose GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. (2) CONFORMING AMENDMENTS.— any information that is confidential or pro- (A) EXTRAORDINARY DIVIDENDS.—Section prietary business information, that would SCHUMER, Mr. BROWN of Ohio, Mrs. 965(b)(2) of such Code is amended— violate the Trade Secrets Act, or that would HAGAN, Mr. COONS, Mr. AKAKA, Mrs. (i) by striking ‘‘June 30, 2003’’ and inserting jeopardize jobs in the United States by sup- MURRAY, Ms. LANDRIEU, Mr. KERRY, ‘‘September 30, 2011’’, and plying information which competitors could and Mr. KIRK)) to the bill H.R. 3606, to (ii) by adding at the end the following new use to compete with companies in the United increase American job creation and sentence: ‘‘The amounts described in clauses States.’’. economic growth by improving access (i), (ii), and (iii) shall not include any to the public capital markets for amounts which were taken into account in SA 1920. Mr. CHAMBLISS submitted emerging growth companies; which was an amendment intended to be proposed determining the deduction under subsection ordered to lie on the table; as follows: (a) for any prior taxable year.’’. to amendment SA 1836 proposed by Mr. At the end of the amendment, add the fol- (B) DETERMINATIONS RELATING TO RELATED REID (for Ms. CANTWELL (for herself, lowing: PARTY INDEBTEDNESS.—Section 965(b)(3)(B) of Mr. JOHNSON of South Dakota, Mr. SEC. 817. CATEGORIZATION OF PURPOSE OF such Code is amended by striking ‘‘October 3, GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. LOANS AND LONG-TERM GUARAN- 2004’’ and inserting ‘‘September 30, 2011’’. SCHUMER, Mr. BROWN of Ohio, Mrs. TEES IN ANNUAL REPORT. (C) APPLICABLE FINANCIAL STATEMENT.— HAGAN, Mr. COONS, Mr. AKAKA, Mrs. Section 8 of the Export-Import Bank Act of Section 965(c)(1) of such Code is amended by 1945 (12 U.S.C. 635g), as amended by sections striking ‘‘June 30, 2003’’ each place it appears MURRAY, Ms. LANDRIEU, Mr. KERRY, 808 and 810, is amended by adding at the end and inserting ‘‘September 30, 2011’’. and Mr. KIRK)) to the bill H.R. 3606, to the following: (D) DETERMINATIONS RELATING TO BASE PE- increase American job creation and ‘‘(i) CATEGORIZATION OF PURPOSE OF LOANS RIOD.—Section 965(c)(2) of such Code is economic growth by improving access AND LONG-TERM GUARANTEES.—In the annual amended by striking ‘‘June 30, 2003’’ and in- to the public capital markets for report of the Bank under subsection (a), the serting ‘‘September 30, 2011’’. emerging growth companies; which was Bank shall categorize each loan and long- (b) DEDUCTION INCLUDES CURRENT AND AC- ordered to lie on the table; as follows: term guarantee made by the Bank in the fis- CUMULATED FOREIGN EARNINGS.— cal year covered by the report, and according (1) IN GENERAL.—Paragraph (1) of section Strike section 812 of the amendment and to the following purposes: 965(b) of the Internal Revenue Code of 1986 is insert the following: ‘‘(1) ‘To assume commercial or political amended to read as follows: SEC. 812. REPORT BY THE COMPTROLLER GEN- risk that exporter or private financial insti- ‘‘(1) IN GENERAL.—The amount of dividends ERAL OF THE UNITED STATES ON THE ROLE OF THE EXPORT-IMPORT tutions are unwilling or unable to under- taken into account under subsection (a) shall BANK OF THE UNITED STATES IN take’. not exceed the sum of the current and accu- THE WORLD ECONOMY AND THE ‘‘(2) ‘To overcome maturity or other limi- mulated earnings and profits described in BANK’S RISK MANAGEMENT. tations in private sector export financing’. section 959(c)(3) for the year a deduction is Not later than 1 year after the date of the ‘‘(3) ‘To meet competition from a foreign, claimed under subsection (a), without dimi- enactment of this Act, the Comptroller Gen- officially sponsored, export credit competi- nution by reason of any distributions made eral of the United States shall complete and tion’. during the election year, for all controlled submit to the Export-Import Bank of the ‘‘(4) ‘Not identified’, and the reason why foreign corporations of the United States United States, the Committee on Banking, the purpose is not identified.’’. shareholder.’’.

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00040 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.031 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1857 (2) CONFORMING AMENDMENTS.— ‘‘(i) after the date of the enactment of this by improving access to the public cap- (A) Section 965(c) of such Code, as amended paragraph, and ital markets for emerging growth com- by subsection (a), is amended by striking ‘‘(ii) at a time when such individual was panies; which was ordered to lie on the paragraph (1) and by redesignating para- not an employee of the taxpayer.’’. table; as follows: graphs (2), (3), (4), and (5), as paragraphs (1), (3) REDUCTION FOR FAILURE TO MAINTAIN EM- (2), (3), and (4), respectively. PLOYMENT LEVELS.—Paragraph (4) of section At the end, add the following: (B) Paragraph (4) of section 965(c) of such 965(b) of such Code (relating to limitations) ll Code, as redesignated by subparagraph (A), is is amended to read as follows: TITLE —FOREIGN EARNINGS REINVESTMENT amended to read as follows: ‘‘(4) REDUCTION IN BENEFITS FOR FAILURE TO ‘‘(4) CONTROLLED GROUPS.—All United MAINTAIN EMPLOYMENT LEVELS.— SEC. l01. SHORT TITLE. States shareholders which are members of an ‘‘(A) IN GENERAL.—If, during the period affiliated group filing a consolidated return This title may be cited as the ‘‘Foreign consisting of the calendar month in which Earnings Reinvestment Act’’. under section 1501 shall be treated as one the taxpayer first receives a distribution de- United States shareholder.’’. scribed in subsection (a)(1) and the suc- SEC. ll. ALLOWANCE OF TEMPORARY DIVI- (c) AMOUNT OF DEDUCTION.— ceeding 23 calendar months, the taxpayer DENDS RECEIVED DEDUCTION FOR (1) IN GENERAL.—Paragraph (1) of section does not maintain an average employment DIVIDENDS RECEIVED FROM A CON- TROLLED FOREIGN CORPORATION. 965(a) of the Internal Revenue Code of 1986 is level at least equal to the taxpayer’s prior amended by striking ‘‘85 percent’’ and insert- average employment, an additional amount (a) APPLICABILITY OF PROVISION.— ing ‘‘75 percent’’. equal to $75,000 multiplied by the number of (1) IN GENERAL.—Subsection (f) of section (2) BONUS DEDUCTION IN SUBSEQUENT TAX- employees by which the taxpayer’s average 965 is amended to read as follows: ABLE YEAR FOR INCREASING JOBS.—Section 965 employment level during such period falls ‘‘(f) ELECTION; ELECTION YEAR.— of such Code is amended by adding at the end below the prior average employment (but not ‘‘(1) IN GENERAL.—The taxpayer may elect the following new subsection: ‘‘(g) BONUS DEDUCTION.— exceeding the aggregate amount allowed as a to apply this section to— ‘‘(1) IN GENERAL.—In the case of any tax- deduction pursuant to subsection (a)(1)) shall ‘‘(A) the taxpayer’s last taxable year which payer who makes an election to apply this be taken into income by the taxpayer during begins before the date of the enactment of section, there shall be allowed as a deduction the taxable year that includes the final day the Foreign Earnings Reinvestment Act, or for the first taxable year following the elec- of such period. ‘‘(B) the taxpayer’s first taxable year tion year an amount equal to the applicable ‘‘(B) AVERAGE EMPLOYMENT LEVEL.—For which begins during the 1-year period begin- percentage of the cash dividends which are purposes of this paragraph, the taxpayer’s ning on such date. taken into account under subsection (a) with average employment level for a period shall Such election may be made for a taxable respect to such taxpayer for the election be the average number of full-time United year only if made on or before the due date year. States employees of the taxpayer, measured (including extensions) for filing the return of ‘‘(2) APPLICABLE PERCENTAGE.—For pur- at the end of each month during the period. tax for such taxable year. poses of paragraph (1), the applicable per- ‘‘(C) PRIOR AVERAGE EMPLOYMENT.—For ‘‘(C) ELECTION YEAR.—For purposes of this centage is the amount which bears the same purposes of this paragraph, the taxpayer’s section, the term ‘election year’ means the ratio (not greater than 1) to 10 percent as— ‘prior average employment’ shall be the av- taxable year— ‘‘(A) the excess (if any) of— erage number of full-time United States em- ‘‘(i) which begins after the date that is one ‘‘(i) the qualified payroll of the taxpayer ployees of the taxpayer during the period year before the date of the enactment of the for the calendar year which begins with or consisting of the 24 calendar months imme- Foreign Earnings Reinvestment Act, and within the first taxable year following the diately preceding the calendar month in ‘‘(ii) to which the taxpayer elects under election year, over which the taxpayer first receives a distribu- paragraph (1) to apply this section.’’. ‘‘(ii) the qualified payroll of the taxpayer tion described in subsection (a)(1). (2) CONFORMING AMENDMENTS.— for calendar year 2010, bears to ‘‘(D) FULL-TIME UNITED STATES EMPLOYEE.— (A) EXTRAORDINARY DIVIDENDS.—Section ‘‘(B) 10 percent of the qualified payroll of For purposes of this paragraph— 965(b)(2) of such Code is amended— the taxpayer for calendar year 2010.’’ ‘‘(i) IN GENERAL.—The term ‘full-time (i) by striking ‘‘June 30, 2003’’ and inserting ‘‘(3) QUALIFIED PAYROLL.—For purposes of United States employee’ means an individual ‘‘September 30, 2011’’, and this paragraph: who provides services in the United States as (ii) by adding at the end the following new ‘‘(A) IN GENERAL.—The term ‘qualified pay- a full-time employee, based on the employ- sentence: ‘‘The amounts described in clauses roll’ means, with respect to a taxpayer for er’s standards and practices; except that re- (i), (ii), and (iii) shall not include any any calendar year, the aggregate wages (as gardless of the employer’s classification of amounts which were taken into account in defined in section 3121(a)) paid by the cor- the employee, an employee whose normal determining the deduction under subsection poration during such calendar year. schedule is 40 hours or more per week is con- (a) for any prior taxable year.’’. ‘‘(B) EXCEPTION FOR CHANGES IN OWNERSHIP sidered a full-time employee. (B) DETERMINATIONS RELATING TO RELATED OF TRADES OR BUSINESSES.— ‘‘(ii) EXCEPTION FOR CHANGES IN OWNERSHIP PARTY INDEBTEDNESS.—Section 965(b)(3)(B) of ‘‘(i) ACQUISITIONS.—If, after December 31, OF TRADES OR BUSINESSES.—Such term does such Code is amended by striking ‘‘October 3, 2009, and before the close of the first taxable not include— 2004’’ and inserting ‘‘September 30, 2011’’. year following the election year, a taxpayer ‘‘(I) any individual who was an employee, (C) APPLICABLE FINANCIAL STATEMENT.— acquires the trade or business of a prede- on the date of acquisition, of any trade or Section 965(c)(1) of such Code is amended by cessor, then the qualified payroll of such tax- business acquired by the taxpayer during the striking ‘‘June 30, 2003’’ each place it appears payer for any calendar year shall be in- 24-month period referred to in subparagraph and inserting ‘‘September 30, 2011’’. creased by so much of the qualified payroll (A), and (D) DETERMINATIONS RELATING TO BASE PE- of the predecessor for such calendar year as ‘‘(II) any individual who was an employee RIOD.—Section 965(c)(2) of such Code is was attributable to the trade or business ac- of any trade or business disposed of by the amended by striking ‘‘June 30, 2003’’ and in- quired by the taxpayer. taxpayer during the 24-month period referred serting ‘‘September 30, 2011’’. ‘‘(ii) DISPOSITIONS.—If, after December 31, to in subparagraph (A) or the 24-month pe- (b) DEDUCTION INCLUDES CURRENT AND AC- 2009, and before the close of the first taxable riod referred to in subparagraph (C). CUMULATED FOREIGN EARNINGS.— year following the election year, a taxpayer ‘‘(E) AGGREGATION RULES.—In determining (1) IN GENERAL.—Paragraph (1) of section disposes of a trade or business, then— the taxpayer’s average employment level 965(b) of the Internal Revenue Code of 1986 is ‘‘(I) the qualified payroll of such taxpayer and prior average employment, all domestic amended to read as follows: for calendar year 2010 shall be decreased by members of a controlled group shall be treat- ‘‘(1) IN GENERAL.—The amount of dividends the amount of wages for such calendar year ed as a single taxpayer.’’. taken into account under subsection (a) shall (d) EFFECTIVE DATE.—The amendments as were attributable to the trade or business made by this section shall apply to taxable not exceed the sum of the current and accu- which was disposed of by the taxpayer, and years ending after the date of the enactment mulated earnings and profits described in ‘‘(II) if the disposition occurs after the be- of this Act. section 959(c)(3) for the year a deduction is ginning of the first taxable year following claimed under subsection (a), without dimi- the election year, the qualified payroll of SA 1923. Mr. MCCAIN (for himself and nution by reason of any distributions made such taxpayer for the calendar year which Mrs. HAGAN) submitted an amendment during the election year, for all controlled begins with or within such taxable year shall intended to be proposed to amendment foreign corporations of the United States be decreased by the amount of wages for SA 1836 proposed by Mr. REID (for Ms. shareholder.’’. such calendar year as were attributable to CANTWELL (for herself, Mr. JOHNSON of (2) CONFORMING AMENDMENTS.— the trade or business which was disposed of (A) Section 965(c) of such Code, as amended South Dakota, Mr. GRAHAM, Mr. by the taxpayer. by subsection (a), is amended by striking SHELBY, Mr. WARNER, Mr. SCHUMER, ‘‘(C) SPECIAL RULE.—For purposes of deter- paragraph (1) and by redesignating para- mining qualified payroll for any calendar Mr. BROWN of Ohio, Mrs. HAGAN, Mr. graphs (2), (3), (4), and (5), as paragraphs (1), year after calendar year 2011, such term shall COONS, Mr. AKAKA, Mrs. MURRAY, Ms. (2), (3), and (4), respectively. not include wages paid to any individual if LANDRIEU, Mr. KERRY, and Mr. KIRK)) (B) Paragraph (4) of section 965(c) of such such individual received compensation from to the bill H.R. 3606, to increase Amer- Code, as redesignated by subparagraph (A), is the taxpayer for services performed— ican job creation and economic growth amended to read as follows:

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00041 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.032 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1858 CONGRESSIONAL RECORD — SENATE March 20, 2012

‘‘(4) CONTROLLED GROUPS.—All United ‘‘(4) REDUCTION IN BENEFITS FOR FAILURE TO ‘‘(6) transactions involving the offer or sale States shareholders which are members of an MAINTAIN EMPLOYMENT LEVELS.— of securities by an issuer (including all enti- affiliated group filing a consolidated return ‘‘(A) IN GENERAL.—If, during the period ties controlled by or under common control under section 1501 shall be treated as one consisting of the calendar month in which with the issuer), provided that— United States shareholder.’’. the taxpayer first receives a distribution de- ‘‘(A) the aggregate amount sold to all in- (c) AMOUNT OF DEDUCTION.— scribed in subsection (a)(1) and the suc- vestors by the issuer, including any amount (1) IN GENERAL.—Paragraph (1) of section ceeding 23 calendar months, the taxpayer sold in reliance on the exemption provided 965(a) of the Internal Revenue Code of 1986 is does not maintain an average employment under this paragraph during the 12-month amended by striking ‘‘85 percent’’ and insert- level at least equal to the taxpayer’s prior period preceding the date of such trans- ing ‘‘75 percent’’. average employment, an additional amount action, is not more than $1,000,000; (2) BONUS DEDUCTION IN SUBSEQUENT TAX- equal to $75,000 multiplied by the number of ‘‘(B) the aggregate amount sold to any in- ABLE YEAR FOR INCREASING JOBS.—Section 965 employees by which the taxpayer’s average vestor by an issuer, including any amount of such Code is amended by adding at the end employment level during such period falls sold in reliance on the exemption provided the following new subsection: below the prior average employment (but not under this paragraph during the 12-month ‘‘(g) BONUS DEDUCTION.— exceeding the aggregate amount allowed as a period preceding the date of such trans- ‘‘(1) IN GENERAL.—In the case of any tax- deduction pursuant to subsection (a)(1)) shall action, does not exceed— payer who makes an election to apply this be taken into income by the taxpayer during ‘‘(i) the greater of $2,000 or 5 percent of the section, there shall be allowed as a deduction the taxable year that includes the final day annual income or net worth of such investor, for the first taxable year following the elec- of such period. as applicable, if either the annual income or tion year an amount equal to the applicable ‘‘(B) AVERAGE EMPLOYMENT LEVEL.—For the net worth of the investor is less than percentage of the cash dividends which are purposes of this paragraph, the taxpayer’s $100,000; and taken into account under subsection (a) with average employment level for a period shall ‘‘(ii) 10 percent of the annual income or net respect to such taxpayer for the election be the average number of full-time United worth of such investor, as applicable, not to year. States employees of the taxpayer, measured exceed a maximum aggregate amount sold of ‘‘(2) APPLICABLE PERCENTAGE.—For pur- at the end of each month during the period. $100,000, if either the annual income or net poses of paragraph (1), the applicable per- ‘‘(C) PRIOR AVERAGE EMPLOYMENT.—For worth of the investor is equal to or more centage is the amount which bears the same purposes of this paragraph, the taxpayer’s than $100,000; ratio (not greater than 1) to 10 percent as— ‘prior average employment’ shall be the av- ‘‘(C) the transaction is conducted through ‘‘(A) the excess (if any) of— erage number of full-time United States em- a broker or funding portal that complies ‘‘(i) the qualified payroll of the taxpayer ployees of the taxpayer during the period with the requirements of section 4A(a); and for the calendar year which begins with or ‘‘(D) the issuer complies with the require- within the first taxable year following the consisting of the 24 calendar months imme- diately preceding the calendar month in ments of section 4A(b).’’. election year, over (b) REQUIREMENTS TO QUALIFY FOR which the taxpayer first receives a distribu- ‘‘(ii) the qualified payroll of the taxpayer CROWDFUNDING EXEMPTION.—The Securities tion described in subsection (a)(1). for calendar year 2010, bears to Act of 1933 (15 U.S.C. 77a et seq.) is amended ULL-TIME UNITED STATES EMPLOYEE.— ‘‘(B) 10 percent of the qualified payroll of ‘‘(D) F by inserting after section 4 the following: For purposes of this paragraph— the taxpayer for calendar year 2010.’’ ‘‘SEC. 4A. REQUIREMENTS WITH RESPECT TO N GENERAL ‘‘(3) QUALIFIED PAYROLL.—For purposes of ‘‘(i) I .—The term ‘full-time CERTAIN SMALL TRANSACTIONS. this paragraph: United States employee’ means an individual ‘‘(a) REQUIREMENTS ON INTERMEDIARIES.—A ‘‘(A) IN GENERAL.—The term ‘qualified pay- who provides services in the United States as person acting as an intermediary in a trans- roll’ means, with respect to a taxpayer for a full-time employee, based on the employ- action involving the offer or sale of securi- any calendar year, the aggregate wages (as er’s standards and practices; except that re- ties for the account of others pursuant to defined in section 3121(a)) paid by the cor- gardless of the employer’s classification of section 4(6) shall— poration during such calendar year. the employee, an employee whose normal ‘‘(1) register with the Commission as— ‘‘(B) EXCEPTION FOR CHANGES IN OWNERSHIP schedule is 40 hours or more per week is con- ‘‘(A) a broker; or OF TRADES OR BUSINESSES.— sidered a full-time employee. ‘‘(B) a funding portal (as defined in section ‘‘(i) ACQUISITIONS.—If, after December 31, ‘‘(ii) EXCEPTION FOR CHANGES IN OWNERSHIP 3(a)(80) of the Securities Exchange Act of 2009, and before the close of the first taxable OF TRADES OR BUSINESSES.—Such term does 1934); year following the election year, a taxpayer not include— ‘‘(2) register with any applicable self-regu- acquires the trade or business of a prede- ‘‘(I) any individual who was an employee, latory organization (as defined in section cessor, then the qualified payroll of such tax- on the date of acquisition, of any trade or 3(a)(26) of the Securities Exchange Act of payer for any calendar year shall be in- business acquired by the taxpayer during the 1934); creased by so much of the qualified payroll 24-month period referred to in subparagraph ‘‘(3) provide such disclosures, including dis- of the predecessor for such calendar year as (A), and closures related to risks and other investor was attributable to the trade or business ac- ‘‘(II) any individual who was an employee education materials, as the Commission quired by the taxpayer. of any trade or business disposed of by the shall, by rule, determine appropriate; ‘‘(ii) DISPOSITIONS.—If, after December 31, taxpayer during the 24-month period referred ‘‘(4) ensure that each investor— 2009, and before the close of the first taxable to in subparagraph (A) or the 24-month pe- ‘‘(A) reviews investor-education informa- year following the election year, a taxpayer riod referred to in subparagraph (C). tion, in accordance with standards estab- disposes of a trade or business, then— ‘‘(E) AGGREGATION RULES.—In determining lished by the Commission, by rule; ‘‘(I) the qualified payroll of such taxpayer the taxpayer’s average employment level ‘‘(B) positively affirms that the investor for calendar year 2010 shall be decreased by and prior average employment, all domestic understands that the investor is risking the the amount of wages for such calendar year members of a controlled group shall be treat- loss of the entire investment, and that the as were attributable to the trade or business ed as a single taxpayer.’’. investor could bear such a loss; and which was disposed of by the taxpayer, and (d) EFFECTIVE DATE.—The amendments ‘‘(C) answers questions demonstrating— ‘‘(II) if the disposition occurs after the be- made by this section shall apply to taxable ‘‘(i) an understanding of the level of risk ginning of the first taxable year following years ending after the date of the enactment generally applicable to investments in the election year, the qualified payroll of of this Act. startups, emerging businesses, and small such taxpayer for the calendar year which Mr. MERKLEY submitted an issuers; begins with or within such taxable year shall SA 1924. ‘‘(ii) an understanding of the risk of be decreased by the amount of wages for amendment intended to be proposed to illiquidity; and such calendar year as were attributable to amendment SA 1884 submitted by Mr. ‘‘(iii) an understanding of such other mat- the trade or business which was disposed of MERKLEY (for himself, Mr. BENNET, and ters as the Commission determines appro- by the taxpayer. Mr. BROWN of Massachusetts) and in- priate, by rule; ‘‘(C) SPECIAL RULE.—For purposes of deter- tended to be proposed to the bill H.R. ‘‘(5) take such measures to reduce the risk mining qualified payroll for any calendar 3606, to increase American job creation of fraud with respect to such transactions, as year after calendar year 2011, such term shall and economic growth by improving ac- established by the Commission, by rule, in- not include wages paid to any individual if cess to the public capital markets for cluding obtaining a background and securi- such individual received compensation from ties enforcement regulatory history check the taxpayer for services performed— emerging growth companies; which was on each officer, director, and person holding ‘‘(i) after the date of the enactment of this ordered to lie on the table; as follows: more than 20 percent of the outstanding eq- paragraph, and On page 1, strike line 2 and all that follows uity of every issuer whose securities are of- ‘‘(ii) at a time when such individual was through page 24, line 14 and insert the fol- fered by such person; not an employee of the taxpayer.’’. lowing: ‘‘(6) not later than 21 days prior to the first (3) REDUCTION FOR FAILURE TO MAINTAIN EM- SEC. 301. CROWDFUNDING EXEMPTION. day on which securities are sold to any in- PLOYMENT LEVELS.—Paragraph (4) of section (a) SECURITIES ACT OF 1933.—Section 4 of vestor (or such other period as the Commis- 965(b) of such Code (relating to limitations) the Securities Act of 1933 (15 U.S.C. 77d) is sion may establish), make available to the is amended to read as follows: amended by adding at the end the following: Commission and to potential investors any

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00042 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.030 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1859 information provided by the issuer pursuant and all required disclosures, with a reason- in a transaction exempted by the provisions to subsection (b); able opportunity to rescind the commitment of section 4(6), makes an untrue statement of ‘‘(7) ensure that all offering proceeds are to purchase the securities; a material fact or omits to state a material only provided to the issuer when the aggre- ‘‘(H) a description of the ownership and fact required to be stated or necessary in gate capital raised from all investors is capital structure of the issuer, including— order to make the statements, in the light of equal to or greater than a target offering ‘‘(i) terms of the securities of the issuer the circumstances under which they were amount, and allow all investors to cancel being offered and each other class of security made, not misleading, provided that the pur- their commitments to invest, as the Com- of the issuer, including how such terms may chaser did not know of such untruth or omis- mission shall, by rule, determine appro- be modified, and a summary of the dif- sion; and priate; ferences between such securities, including ‘‘(B) does not sustain the burden of proof ‘‘(8) make such efforts as the Commission how the rights of the securities being offered that such issuer did not know, and in the ex- determines appropriate, by rule, to ensure may be materially limited, diluted, or quali- ercise of reasonable care could not have that no investor in a 12-month period has fied by the rights of any other class of secu- known, of such untruth or omission. purchased securities offered pursuant to sec- rity of the issuer; ‘‘(3) DEFINITION.—As used in this sub- tion 4(6) that, in the aggregate, from all ‘‘(ii) a description of how the exercise of section, the term ‘issuer’ includes any person issuers, exceed the investment limits set the rights held by the principal shareholders who is a director or partner of the issuer, and forth in section 4(6)(B); of the issuer could negatively impact the the principal executive officer or officers, ‘‘(9) take such steps to protect the privacy purchasers of the securities being offered; principal financial officer, and controller or of information collected from investors as ‘‘(iii) the name and ownership level of each principal accounting officer of the issuer the Commission shall, by rule, determine ap- existing shareholder who owns more than 20 (and any person occupying a similar status propriate; percent of any class of the securities of the or performing a similar function) that offers ‘‘(10) not compensate promoters, finders, or issuer; or sells a security in a transaction exempted lead generators for providing the broker or ‘‘(iv) how the securities being offered are by the provisions of section 4(6), and any per- funding portal with the personal identifying being valued, and examples of methods for son who offers or sells the security in such information of any potential investor; how such securities may be valued by the offering. ‘‘(11) prohibit its directors, officers, or issuer in the future, including during subse- ‘‘(d) INFORMATION AVAILABLE TO STATES.— partners (or any person occupying a similar quent corporate actions; and The Commission shall make, or shall cause status or performing a similar function) ‘‘(v) the risks to purchasers of the securi- to be made by the relevant broker or funding from having any financial interest in an ties relating to minority ownership in the portal, the information described in sub- issuer using its services; and issuer, the risks associated with corporate section (b) and such other information as the ‘‘(12) meet such other requirements as the actions, including additional issuances of Commission, by rule, determines appro- Commission may, by rule, prescribe, for the shares, a sale of the issuer or of assets of the priate, available to the securities commis- protection of investors and in the public in- issuer, or transactions with related parties; sion (or any agency or office performing like terest. and functions) of each State and territory of the ‘‘(b) REQUIREMENTS FOR ISSUERS.—For pur- ‘‘(I) such other information as the Commis- United States and the District of Columbia. poses of section 4(6), an issuer who offers or sion may, by rule, prescribe, for the protec- ‘‘(e) RESTRICTIONS ON SALES.—Securities sells securities shall— tion of investors and in the public interest; issued pursuant to a transaction described in ‘‘(1) file with the Commission and provide ‘‘(2) not advertise the terms of the offering, section 4(6)— to investors and the relevant broker or fund- except for notices which direct investors to ‘‘(1) may not be transferred by the pur- ing portal, and make available to potential the funding portal or broker; chaser of such securities during the 1-year investors— ‘‘(3) not compensate or commit to com- period beginning on the date of purchase, un- ‘‘(A) the name, legal status, physical ad- pensate, directly or indirectly, any person to less such securities are transferred— dress, and website address of the issuer; promote its offerings through communica- ‘‘(A) to the issuer of the securities; ‘‘(B) the names of the directors and officers tion channels provided by a broker or fund- ‘‘(B) to an accredited investor; (and any persons occupying a similar status ing portal, without taking such steps as the ‘‘(C) as part of an offering registered with or performing a similar function), and each Commission shall, by rule, require to ensure the Commission; or person holding more than 20 percent of the that such person clearly discloses the re- ‘‘(D) to a member of the family of the pur- shares of the issuer; ceipt, past or prospective, of such compensa- chaser or the equivalent, or in connection ‘‘(C) a description of the business of the tion, upon each instance of such promotional with the death or divorce of the purchaser or issuer and the anticipated business plan of communication; other similar circumstance, in the discretion the issuer; ‘‘(4) not less than annually, file with the of the Commission; and ‘‘(D) a description of the financial condi- Commission and provide to investors reports ‘‘(2) shall be subject to such other limita- tion of the issuer, including, for offerings of the results of operations and financial tions as the Commission shall, by rule, es- that, together with all other offerings of the statements of the issuer, as the Commission tablish. issuer under section 4(6) within the preceding shall, by rule, determine appropriate, subject ‘‘(f) APPLICABILITY.—Section 4(6) shall not 12-month period, have, in the aggregate, tar- to such exceptions and termination dates as apply to transactions involving the offer or get offering amounts of— the Commission may establish, by rule; and sale of securities by any issuer that— ‘‘(i) $100,000 or less— ‘‘(5) comply with such other requirements ‘‘(1) is not organized under and subject to ‘‘(I) the income tax returns filed by the as the Commission may, by rule, prescribe, the laws of a State or territory of the United issuer for the most recently completed year for the protection of investors and in the States or the District of Columbia; (if any); and public interest. ‘‘(2) is subject to the requirement to file re- ‘‘(II) financial statements of the issuer, ‘‘(c) LIABILITY FOR MATERIAL MISSTATE- ports pursuant to section 13 or section 15(d) which shall be certified by the principal ex- MENTS AND OMISSIONS.— of the Securities Exchange Act of 1934; ecutive officer of the issuer to be true and ‘‘(1) ACTIONS AUTHORIZED.— ‘‘(3) is an investment company, as defined complete in all material respects; ‘‘(A) IN GENERAL.—Subject to paragraph in section 3 of the Investment Company Act ‘‘(ii) more than $100,000, but not more than (2), a person who purchases a security in a of 1940, or is excluded from the definition of $500,000, financial statements reviewed by a transaction exempted by the provisions of investment company by section 3(b) or sec- public accountant who is independent of the section 4(6) may bring an action against an tion 3(c) of that Act; or issuer, using professional standards and pro- issuer described in paragraph (2), either at ‘‘(4) the Commission, by rule or regulation, cedures for such review or standards and pro- law or in equity in any court of competent determines appropriate. cedures established by the Commission, by jurisdiction, to recover the consideration ‘‘(g) RULE OF CONSTRUCTION.—Nothing in rule, for such purpose; and paid for such security with interest thereon, this section or section 4(6) shall be construed ‘‘(iii) more than $500,000 (or such other less the amount of any income received as preventing an issuer from raising capital amount as the Commission may establish, by thereon, upon the tender of such security, or through methods not described under section rule), audited financial statements; for damages if such person no longer owns 4(6). ‘‘(E) a description of the stated purpose the security. ‘‘(h) CERTAIN CALCULATIONS.— and intended use of the proceeds of the offer- ‘‘(B) LIABILITY.—An action brought under ‘‘(1) DOLLAR AMOUNTS.—Dollar amounts in ing sought by the issuer with respect to the this paragraph shall be subject to the provi- section 4(6) and subsection (b) of this section target offering amount; sions of section 12(b) and section 13, as if the shall be adjusted by the Commission not less ‘‘(F) the target offering amount, the dead- liability were created under section 12(a)(2). frequently than once every 5 years, by notice line to reach the target offering amount, and ‘‘(2) APPLICABILITY.—An issuer shall be lia- published in the Federal Register to reflect regular updates regarding the progress of the ble in an action under paragraph (1), if the any change in the Consumer Price Index for issuer in meeting the target offering issuer— All Urban Consumers published by the Bu- amount; ‘‘(A) by the use of any means or instru- reau of Labor Statistics. ‘‘(G) the price to the public of the securi- ments of transportation or communication ‘‘(2) INCOME AND NET WORTH.—The income ties or the method for determining the price, in interstate commerce or of the mails, by and net worth of a natural person under sec- provided that, prior to sale, each investor any means of any written or oral commu- tion 4(6)(B) shall be calculated in accordance shall be provided in writing the final price nication, in the offering or sale of a security with any rules of the Commission under this

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title regarding the calculation of the income SEC. 303. FUNDING PORTAL REGULATION. AND ISSUERS.—Section 18(c)(1) of the Securi- and net worth, respectively, of an accredited (a) EXEMPTION.— ties Act of 1933 (15 U.S.C. 77r(c)(1)) is amend- investor.’’. (1) IN GENERAL.—Section 3 of the Securities ed by striking ‘‘with respect to fraud or de- (c) RULEMAKING.—Not later than 270 days Exchange Act of 1934 (15 U.S.C. 78c) is ceit, or unlawful conduct by a broker or after the date of enactment of this Act, the amended by adding at the end the following: dealer, in connection with securities or secu- Securities and Exchange Commission (in this ‘‘(h) LIMITED EXEMPTION FOR FUNDING POR- rities transactions.’’ and inserting the fol- title referred to as the ‘‘Commission’’) shall TALS.— lowing: ‘‘, in connection with securities or issue such rules as the Commission deter- ‘‘(1) IN GENERAL.—The Commission shall, securities transactions mines may be necessary or appropriate for by rule, exempt, conditionally or uncondi- ‘‘(A) with respect to— the protection of investors to carry out sec- tionally, a registered funding portal from the ‘‘(i) fraud or deceit; or tions 4(6) and section 4A of the Securities requirement to register as a broker or dealer ‘‘(ii) unlawful conduct by a broker or deal- Act of 1933, as added by this title. In carrying under section 15(a)(1), provided that such er; and out this section, the Commission shall con- funding portal— ‘‘(B) in connection to a transaction de- sult with any securities commission (or any ‘‘(A) remains subject to the examination, scribed under section 4(6), with respect to— agency or office performing like functions) enforcement, and other rulemaking author- ‘‘(i) fraud or deceit; or of the States, any territory of the United ity of the Commission; ‘‘(ii) unlawful conduct by a broker, dealer, States, and the District of Columbia, which ‘‘(B) is a member of a national securities funding portal, or issuer.’’. seeks to consult with the Commission, and association registered under section 15A; and (c) NOTICE FILINGS PERMITTED.—Section ‘‘(C) is subject to such other requirements with any applicable national securities asso- 18(c)(2) of the Securities Act of 1933 (15 U.S.C. under this title as the Commission deter- ciation. 77r(c)(2)) is amended by adding at the end the mines appropriate under such rule. following: (d) DISQUALIFICATION.— ‘‘(2) NATIONAL SECURITIES ASSOCIATION MEM- ‘‘(F) FEES NOT PERMITTED ON CROWDFUNDED (1) IN GENERAL.—Not later than 271 days BERSHIP.—For purposes of sections 15(b)(8) SECURITIES.—Notwithstanding subparagraphs after the date of enactment of this Act, the and 15A, the term ‘broker or dealer’ includes (A), (B), and (C), no filing or fee may be re- Commission shall, by rule, establish dis- a funding portal and the term ‘registered quired with respect to any security that is a qualification provisions under which— broker or dealer’ includes a registered fund- covered security pursuant to subsection (A) an issuer shall not be eligible to offer ing portal, except to the extent that the (b)(4)(B), or will be such a covered security securities pursuant to section 4(6) of the Se- Commission, by rule, determines otherwise, upon completion of the transaction, except curities Act of 1933, as added by this title; provided that a national securities associa- for the securities commission (or any agency and tion shall only examine for and enforce or office performing like functions) of the (B) a broker or funding portal shall not be against a registered funding portal rules of State of the principal place of business of the eligible to effect or participate in trans- such national securities association written issuer, or any State in which purchasers of 50 actions pursuant to that section 4(6). specifically for registered funding portals.’’. percent or greater of the aggregate amount (2) INCLUSIONS.—Disqualification provi- (2) RULEMAKING.—The Commission shall of the issue are residents, provided that for sions required by this subsection shall— issue a rule to carry out section 3(h) of the purposes of this subparagraph, the term (A) be substantially similar to the provi- Securities Exchange Act of 1934 (15 U.S.C. ‘State’ includes the District of Columbia and sions of section 230.262 of title 17, Code of 78c), as added by this subsection, not later the territories of the United States.’’. Federal Regulations (or any successor there- than 270 days after the date of enactment of (d) FUNDING PORTALS.— to); and this Act. (1) STATE EXEMPTIONS AND OVERSIGHT.— (B) disqualify any offering or sale of secu- (b) DEFINITION.—Section 3(a) of the Securi- Section 15(i) of the Securities Exchange Act rities by a person that— ties Exchange Act of 1934 (15 U.S.C. 78c(a)) is of 1934 (15 U.S.C. 78o(i)) is amended— (i) is subject to a final order of a State se- amended by adding at the end the following: (A) by redesignating paragraphs (2) and (3) curities commission (or an agency or officer ‘‘(80) FUNDING PORTAL.—The term ‘funding as paragraphs (3) and (4), respectively; and of a State performing like functions), a portal’ means any person acting as an inter- (B) by inserting after paragraph (1) the fol- State authority that supervises or examines mediary in a transaction involving the offer lowing: banks, savings associations, or credit unions, or sale of securities for the account of oth- ‘‘(2) FUNDING PORTALS.— a State insurance commission (or an agency ers, solely pursuant to section 4(6) of the Se- ‘‘(A) LIMITATION ON STATE LAWS.—Except as or officer of a State performing like func- curities Act of 1933 (15 U.S.C. 77d(6)), that provided in subparagraph (B), no State or po- tions), an appropriate Federal banking agen- does not— litical subdivision thereof may enforce any cy, or the National Credit Union Administra- ‘‘(A) offer investment advice or rec- law, rule, regulation, or other administrative tion, that— ommendations; action against a registered funding portal (I) bars the person from— ‘‘(B) solicit purchases, sales, or offers to with respect to its business as such. (aa) association with an entity regulated buy the securities offered or displayed on its ‘‘(B) EXAMINATION AND ENFORCEMENT AU- by such commission, authority, agency, or website or portal; THORITY.—Subparagraph (A) does not apply officer; ‘‘(C) compensate employees, agents, or with respect to the examination and enforce- (bb) engaging in the business of securities, other persons for such solicitation or based ment of any law, rule, regulation, or admin- insurance, or banking; or on the sale of securities displayed or ref- istrative action of a State or political sub- (cc) engaging in savings association or erenced on its website or portal; division thereof in which the principal place credit union activities; or ‘‘(D) hold, manage, possess, or otherwise of business of a registered funding portal is (II) constitutes a final order based on a vio- handle investor funds or securities; or located, provided that such law, rule, regula- lation of any law or regulation that pro- ‘‘(E) engage in such other activities as the tion, or administrative action is not in addi- hibits fraudulent, manipulative, or deceptive Commission, by rule, determines appro- tion to or different from the requirements conduct within the 10-year period ending on priate.’’. for registered funding portals established by the date of the filing of the offer or sale; or SEC. 304. RELATIONSHIP WITH STATE LAW. the Commission. (ii) has been convicted of any felony or (a) IN GENERAL.—Section 18(b)(4) of the Se- ‘‘(C) DEFINITION.—For purposes of this misdemeanor in connection with the pur- curities Act of 1933 (15 U.S.C. 77r(b)(4)) is paragraph, the term ‘State’ includes the Dis- chase or sale of any security or involving the amended— trict of Columbia and the territories of the making of any false filing with the Commis- (1) by redesignating subparagraphs (C) and United States.’’. sion. (D) as subparagraphs (D) and (E), respec- (2) STATE FRAUD AUTHORITY.—Section SEC. 302. EXCLUSION OF CROWDFUNDING INVES- tively; and 18(c)(1) of the Securities Act of 1933 (15 U.S.C. TORS FROM SHAREHOLDER CAP. (2) by inserting after subparagraph (B) the 77r(c)(1)) is amended by striking ‘‘or dealer’’ (a) EXEMPTION.—Section 12(g) of the Secu- following: and inserting ‘‘, dealer, or funding portal’’. rities Exchange Act of 1934 (15 U.S.C. 78l(g)) ‘‘(C) section 4(6);’’. is amended by adding at the end the fol- (b) CLARIFICATION OF THE PRESERVATION OF SA 1925. Mr. MERKLEY submitted an lowing: STATE ENFORCEMENT AUTHORITY.— amendment intended to be proposed to ‘‘(6) EXCLUSION FOR PERSONS HOLDING CER- (1) IN GENERAL.—The amendments made by amendment SA 1884 submitted by Mr. TAIN SECURITIES.—The Commission shall, by subsection (a) relate solely to State registra- MERKLEY (for himself, Mr. BENNET, and rule, exempt, conditionally or uncondition- tion, documentation, and offering require- Mr. BROWN of Massachusetts) and in- ally, securities acquired pursuant to an of- ments, as described under section 18(a) of Se- tended to be proposed to the bill H.R. fering made under section 4(6) of the Securi- curities Act of 1933 (15 U.S.C. 77r(a)), and 3606, to increase American job creation ties Act of 1933 from the provisions of this shall have no impact or limitation on other subsection.’’. State authority to take enforcement action and economic growth by improving ac- (b) RULEMAKING.—The Commission shall with regard to an issuer, funding portal, or cess to the public capital markets for issue a rule to carry out section 12(g)(6) of any other person or entity using the exemp- emerging growth companies; which was the Securities Exchange Act of 1934 (15 tion from registration provided by section ordered to lie on the table; as follows: U.S.C. 78c), as added by this section, not 4(6) of that Act. On page 1, strike line 2 and all that follows later than 270 days after the date of enact- (2) CLARIFICATION OF STATE JURISDICTION through page 24, line 14 and insert the fol- ment of this Act. OVER UNLAWFUL CONDUCT OF FUNDING PORTALS lowing:

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CROWDFUNDING EXEMPTION. ‘‘(6) not later than 21 days prior to the first issuer in meeting the target offering (a) SECURITIES ACT OF 1933.—Section 4 of day on which securities are sold to any in- amount; the Securities Act of 1933 (15 U.S.C. 77d) is vestor (or such other period as the Commis- ‘‘(G) the price to the public of the securi- amended by adding at the end the following: sion may establish), make available to the ties or the method for determining the price, ‘‘(6) transactions involving the offer or sale Commission and to potential investors any provided that, prior to sale, each investor of securities by an issuer (including all enti- information provided by the issuer pursuant shall be provided in writing the final price ties controlled by or under common control to subsection (b); and all required disclosures, with a reason- with the issuer), provided that— ‘‘(7) ensure that all offering proceeds are able opportunity to rescind the commitment ‘‘(A) the aggregate amount sold to all in- only provided to the issuer when the aggre- to purchase the securities; vestors by the issuer, including any amount gate capital raised from all investors is ‘‘(H) a description of the ownership and sold in reliance on the exemption provided equal to or greater than a target offering capital structure of the issuer, including— under this paragraph during the 12-month amount, and allow all investors to cancel ‘‘(i) terms of the securities of the issuer period preceding the date of such trans- their commitments to invest, as the Com- being offered and each other class of security action, is not more than $1,000,000; mission shall, by rule, determine appro- of the issuer, including how such terms may ‘‘(B) the aggregate amount sold to any in- priate; be modified, and a summary of the dif- vestor by an issuer, including any amount ‘‘(8) make such efforts as the Commission ferences between such securities, including sold in reliance on the exemption provided determines appropriate, by rule, to ensure how the rights of the securities being offered under this paragraph during the 12-month that no investor in a 12-month period has may be materially limited, diluted, or quali- period preceding the date of such trans- purchased securities offered pursuant to sec- fied by the rights of any other class of secu- action, does not exceed— tion 4(6) that, in the aggregate, from all rity of the issuer; ‘‘(i) the greater of $2,000 or 5 percent of the issuers, exceed the investment limits set ‘‘(ii) a description of how the exercise of annual income or net worth of such investor, forth in section 4(6)(B); the rights held by the principal shareholders as applicable, if either the annual income or ‘‘(9) take such steps to protect the privacy of the issuer could negatively impact the the net worth of the investor is less than of information collected from investors as purchasers of the securities being offered; $100,000; and the Commission shall, by rule, determine ap- ‘‘(iii) the name and ownership level of each ‘‘(ii) 10 percent of the annual income or net propriate; existing shareholder who owns more than 20 worth of such investor, as applicable, not to ‘‘(10) not compensate promoters, finders, or percent of any class of the securities of the exceed a maximum aggregate amount sold of lead generators for providing the broker or issuer; $100,000, if either the annual income or net funding portal with the personal identifying ‘‘(iv) how the securities being offered are worth of the investor is equal to or more information of any potential investor; being valued, and examples of methods for than $100,000; ‘‘(11) prohibit its directors, officers, or how such securities may be valued by the ‘‘(C) the transaction is conducted through partners (or any person occupying a similar issuer in the future, including during subse- a broker or funding portal that complies status or performing a similar function) quent corporate actions; and with the requirements of section 4A(a); and from having any financial interest in an ‘‘(v) the risks to purchasers of the securi- ‘‘(D) the issuer complies with the require- issuer using its services; and ties relating to minority ownership in the ments of section 4A(b).’’. ‘‘(12) meet such other requirements as the issuer, the risks associated with corporate (b) REQUIREMENTS TO QUALIFY FOR Commission may, by rule, prescribe, for the actions, including additional issuances of CROWDFUNDING EXEMPTION.—The Securities protection of investors and in the public in- shares, a sale of the issuer or of assets of the Act of 1933 (15 U.S.C. 77a et seq.) is amended terest. issuer, or transactions with related parties; by inserting after section 4 the following: ‘‘(b) REQUIREMENTS FOR ISSUERS.—For pur- and ‘‘SEC. 4A. REQUIREMENTS WITH RESPECT TO poses of section 4(6), an issuer who offers or ‘‘(I) such other information as the Commis- CERTAIN SMALL TRANSACTIONS. sells securities shall— sion may, by rule, prescribe, for the protec- ‘‘(a) REQUIREMENTS ON INTERMEDIARIES.—A ‘‘(1) file with the Commission and provide tion of investors and in the public interest; person acting as an intermediary in a trans- to investors and the relevant broker or fund- ‘‘(2) not advertise the terms of the offering, action involving the offer or sale of securi- ing portal, and make available to potential except for notices which direct investors to ties for the account of others pursuant to investors— the funding portal or broker; section 4(6) shall— ‘‘(A) the name, legal status, physical ad- ‘‘(3) not compensate or commit to com- ‘‘(1) register with the Commission as— dress, and website address of the issuer; pensate, directly or indirectly, any person to ‘‘(A) a broker; or ‘‘(B) the names of the directors and officers promote its offerings through communica- ‘‘(B) a funding portal (as defined in section (and any persons occupying a similar status tion channels provided by a broker or fund- 3(a)(80) of the Securities Exchange Act of or performing a similar function), and each ing portal, without taking such steps as the 1934); person holding more than 20 percent of the Commission shall, by rule, require to ensure ‘‘(2) register with any applicable self-regu- shares of the issuer; that such person clearly discloses the re- latory organization (as defined in section ‘‘(C) a description of the business of the ceipt, past or prospective, of such compensa- 3(a)(26) of the Securities Exchange Act of issuer and the anticipated business plan of tion, upon each instance of such promotional 1934); the issuer; communication; ‘‘(3) provide such disclosures, including dis- ‘‘(D) a description of the financial condi- ‘‘(4) not less than annually, file with the closures related to risks and other investor tion of the issuer, including, for offerings Commission and provide to investors reports education materials, as the Commission that, together with all other offerings of the of the results of operations and financial shall, by rule, determine appropriate; issuer under section 4(6) within the preceding statements of the issuer, as the Commission ‘‘(4) ensure that each investor— 12-month period, have, in the aggregate, tar- shall, by rule, determine appropriate, subject ‘‘(A) reviews investor-education informa- get offering amounts of— to such exceptions and termination dates as tion, in accordance with standards estab- ‘‘(i) $100,000 or less— the Commission may establish, by rule; and lished by the Commission, by rule; ‘‘(I) the income tax returns filed by the ‘‘(5) comply with such other requirements ‘‘(B) positively affirms that the investor issuer for the most recently completed year as the Commission may, by rule, prescribe, understands that the investor is risking the (if any); and for the protection of investors and in the loss of the entire investment, and that the ‘‘(II) financial statements of the issuer, public interest. investor could bear such a loss; and which shall be certified by the principal ex- ‘‘(c) LIABILITY FOR MATERIAL ‘‘(C) answers questions demonstrating— ecutive officer of the issuer to be true and MISSTATEMENTS AND OMISSIONS.— ‘‘(i) an understanding of the level of risk complete in all material respects; ‘‘(1) ACTIONS AUTHORIZED.— generally applicable to investments in ‘‘(ii) more than $100,000, but not more than ‘‘(A) IN GENERAL.—Subject to paragraph startups, emerging businesses, and small $500,000, financial statements reviewed by a (2), a person who purchases a security in a issuers; public accountant who is independent of the transaction exempted by the provisions of ‘‘(ii) an understanding of the risk of issuer, using professional standards and pro- section 4(6) may bring an action against an illiquidity; and cedures for such review or standards and pro- issuer described in paragraph (2), either at ‘‘(iii) an understanding of such other mat- cedures established by the Commission, by law or in equity in any court of competent ters as the Commission determines appro- rule, for such purpose; and jurisdiction, to recover the consideration priate, by rule; ‘‘(iii) more than $500,000 (or such other paid for such security with interest thereon, ‘‘(5) take such measures to reduce the risk amount as the Commission may establish, by less the amount of any income received of fraud with respect to such transactions, as rule), audited financial statements; thereon, upon the tender of such security, or established by the Commission, by rule, in- ‘‘(E) a description of the stated purpose for damages if such person no longer owns cluding obtaining a background and securi- and intended use of the proceeds of the offer- the security.

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‘‘(B) LIABILITY.—An action brought under ‘‘(1) DOLLAR AMOUNTS.—Dollar amounts in rule, exempt, conditionally or uncondition- this paragraph shall be subject to the provi- section 4(6) and subsection (b) of this section ally, securities acquired pursuant to an of- sions of section 12(b) and section 13, as if the shall be adjusted by the Commission not less fering made under section 4(6) of the Securi- liability were created under section 12(a)(2). frequently than once every 5 years, by notice ties Act of 1933 from the provisions of this ‘‘(2) APPLICABILITY.—An issuer shall be lia- published in the Federal Register to reflect subsection.’’. ble in an action under paragraph (1), if the any change in the Consumer Price Index for (b) RULEMAKING.—The Commission shall issuer— All Urban Consumers published by the Bu- issue a rule to carry out section 12(g)(6) of ‘‘(A) by the use of any means or instru- reau of Labor Statistics. the Securities Exchange Act of 1934 (15 ments of transportation or communication ‘‘(2) INCOME AND NET WORTH.—The income U.S.C. 78c), as added by this section, not in interstate commerce or of the mails, by and net worth of a natural person under sec- later than 270 days after the date of enact- any means of any written or oral commu- tion 4(6)(B) shall be calculated in accordance ment of this Act. nication, in the offering or sale of a security with any rules of the Commission under this SEC. 304. FUNDING PORTAL REGULATION. in a transaction exempted by the provisions title regarding the calculation of the income (a) EXEMPTION.— of section 4(6), makes an untrue statement of and net worth, respectively, of an accredited (1) IN GENERAL.—Section 3 of the Securities a material fact or omits to state a material investor.’’. Exchange Act of 1934 (15 U.S.C. 78c) is fact required to be stated or necessary in (c) RULEMAKING.—Not later than 271 days amended by adding at the end the following: order to make the statements, in the light of after the date of enactment of this Act, the the circumstances under which they were Securities and Exchange Commission (in this ‘‘(h) LIMITED EXEMPTION FOR FUNDING POR- made, not misleading, provided that the pur- title referred to as the ‘‘Commission’’) shall TALS.— chaser did not know of such untruth or omis- issue such rules as the Commission deter- ‘‘(1) IN GENERAL.—The Commission shall, sion; and mines may be necessary or appropriate for by rule, exempt, conditionally or uncondi- ‘‘(B) does not sustain the burden of proof the protection of investors to carry out sec- tionally, a registered funding portal from the that such issuer did not know, and in the ex- tions 4(6) and section 4A of the Securities requirement to register as a broker or dealer ercise of reasonable care could not have Act of 1933, as added by this title. In carrying under section 15(a)(1), provided that such known, of such untruth or omission. out this section, the Commission shall con- funding portal— ‘‘(3) DEFINITION.—As used in this sub- sult with any securities commission (or any ‘‘(A) remains subject to the examination, section, the term ‘issuer’ includes any person agency or office performing like functions) enforcement, and other rulemaking author- who is a director or partner of the issuer, and of the States, any territory of the United ity of the Commission; the principal executive officer or officers, States, and the District of Columbia, which ‘‘(B) is a member of a national securities seeks to consult with the Commission, and principal financial officer, and controller or association registered under section 15A; and with any applicable national securities asso- principal accounting officer of the issuer ‘‘(C) is subject to such other requirements ciation. (and any person occupying a similar status under this title as the Commission deter- (d) DISQUALIFICATION.— or performing a similar function) that offers mines appropriate under such rule. (1) IN GENERAL.—Not later than 270 days or sells a security in a transaction exempted ‘‘(2) NATIONAL SECURITIES ASSOCIATION MEM- after the date of enactment of this Act, the BERSHIP.—For purposes of sections 15(b)(8) by the provisions of section 4(6), and any per- Commission shall, by rule, establish dis- son who offers or sells the security in such and 15A, the term ‘broker or dealer’ includes qualification provisions under which— a funding portal and the term ‘registered offering. (A) an issuer shall not be eligible to offer ‘‘(d) INFORMATION AVAILABLE TO STATES.— broker or dealer’ includes a registered fund- securities pursuant to section 4(6) of the Se- The Commission shall make, or shall cause ing portal, except to the extent that the curities Act of 1933, as added by this title; to be made by the relevant broker or funding Commission, by rule, determines otherwise, portal, the information described in sub- and provided that a national securities associa- section (b) and such other information as the (B) a broker or funding portal shall not be tion shall only examine for and enforce Commission, by rule, determines appro- eligible to effect or participate in trans- against a registered funding portal rules of priate, available to the securities commis- actions pursuant to that section 4(6). such national securities association written sion (or any agency or office performing like (2) INCLUSIONS.—Disqualification provi- specifically for registered funding portals.’’. functions) of each State and territory of the sions required by this subsection shall— (2) RULEMAKING.—The Commission shall United States and the District of Columbia. (A) be substantially similar to the provi- issue a rule to carry out section 3(h) of the ‘‘(e) RESTRICTIONS ON SALES.—Securities sions of section 230.262 of title 17, Code of Securities Exchange Act of 1934 (15 U.S.C. issued pursuant to a transaction described in Federal Regulations (or any successor there- 78c), as added by this subsection, not later section 4(6)— to); and than 270 days after the date of enactment of ‘‘(1) may not be transferred by the pur- (B) disqualify any offering or sale of secu- this Act. chaser of such securities during the 1-year rities by a person that— (b) DEFINITION.—Section 3(a) of the Securi- period beginning on the date of purchase, un- (i) is subject to a final order of a State se- ties Exchange Act of 1934 (15 U.S.C. 78c(a)) is less such securities are transferred— curities commission (or an agency or officer amended by adding at the end the following: ‘‘(A) to the issuer of the securities; of a State performing like functions), a ‘‘(80) FUNDING PORTAL.—The term ‘funding ‘‘(B) to an accredited investor; State authority that supervises or examines portal’ means any person acting as an inter- ‘‘(C) as part of an offering registered with banks, savings associations, or credit unions, mediary in a transaction involving the offer the Commission; or a State insurance commission (or an agency or sale of securities for the account of oth- ‘‘(D) to a member of the family of the pur- or officer of a State performing like func- ers, solely pursuant to section 4(6) of the Se- chaser or the equivalent, or in connection tions), an appropriate Federal banking agen- curities Act of 1933 (15 U.S.C. 77d(6)), that with the death or divorce of the purchaser or cy, or the National Credit Union Administra- does not— other similar circumstance, in the discretion tion, that— ‘‘(A) offer investment advice or rec- of the Commission; and (I) bars the person from— ommendations; ‘‘(2) shall be subject to such other limita- (aa) association with an entity regulated ‘‘(B) solicit purchases, sales, or offers to tions as the Commission shall, by rule, es- by such commission, authority, agency, or buy the securities offered or displayed on its tablish. officer; website or portal; ‘‘(f) APPLICABILITY.—Section 4(6) shall not (bb) engaging in the business of securities, ‘‘(C) compensate employees, agents, or apply to transactions involving the offer or insurance, or banking; or other persons for such solicitation or based sale of securities by any issuer that— (cc) engaging in savings association or on the sale of securities displayed or ref- ‘‘(1) is not organized under and subject to credit union activities; or erenced on its website or portal; the laws of a State or territory of the United (II) constitutes a final order based on a vio- ‘‘(D) hold, manage, possess, or otherwise States or the District of Columbia; lation of any law or regulation that pro- handle investor funds or securities; or ‘‘(2) is subject to the requirement to file re- hibits fraudulent, manipulative, or deceptive ‘‘(E) engage in such other activities as the ports pursuant to section 13 or section 15(d) conduct within the 10-year period ending on Commission, by rule, determines appro- of the Securities Exchange Act of 1934; the date of the filing of the offer or sale; or priate.’’. ‘‘(3) is an investment company, as defined (ii) has been convicted of any felony or SEC. 305. RELATIONSHIP WITH STATE LAW. in section 3 of the Investment Company Act misdemeanor in connection with the pur- of 1940, or is excluded from the definition of chase or sale of any security or involving the (a) IN GENERAL.—Section 18(b)(4) of the Se- investment company by section 3(b) or sec- making of any false filing with the Commis- curities Act of 1933 (15 U.S.C. 77r(b)(4)) is tion 3(c) of that Act; or sion. amended— ‘‘(4) the Commission, by rule or regulation, SEC. 303. EXCLUSION OF CROWDFUNDING INVES- (1) by redesignating subparagraphs (C) and determines appropriate. TORS FROM SHAREHOLDER CAP. (D) as subparagraphs (D) and (E), respec- ‘‘(g) RULE OF CONSTRUCTION.—Nothing in (a) EXEMPTION.—Section 12(g) of the Secu- tively; and this section or section 4(6) shall be construed rities Exchange Act of 1934 (15 U.S.C. 78l(g)) (2) by inserting after subparagraph (B) the as preventing an issuer from raising capital is amended by adding at the end the fol- following: through methods not described under section lowing: ‘‘(C) section 4(6);’’. 4(6). ‘‘(6) EXCLUSION FOR PERSONS HOLDING CER- (b) CLARIFICATION OF THE PRESERVATION OF ‘‘(h) CERTAIN CALCULATIONS.— TAIN SECURITIES.—The Commission shall, by STATE ENFORCEMENT AUTHORITY.—

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00046 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.033 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1863 (1) IN GENERAL.—The amendments made by amendment SA 1884 submitted by Mr. ‘‘(C) answers questions demonstrating— subsection (a) relate solely to State registra- MERKLEY (for himself, Mr. BENNET, and ‘‘(i) an understanding of the level of risk tion, documentation, and offering require- Mr. BROWN of Massachusetts) and in- generally applicable to investments in ments, as described under section 18(a) of Se- startups, emerging businesses, and small curities Act of 1933 (15 U.S.C. 77r(a)), and tended to be proposed to the bill H.R. 3606, to increase American job creation issuers; shall have no impact or limitation on other ‘‘(ii) an understanding of the risk of State authority to take enforcement action and economic growth by improving ac- illiquidity; and with regard to an issuer, funding portal, or cess to the public capital markets for ‘‘(iii) an understanding of such other mat- any other person or entity using the exemp- emerging growth companies; which was ters as the Commission determines appro- tion from registration provided by section ordered to lie on the table; as follows: priate, by rule; 4(6) of that Act. In lieu of the matter proposed to be in- ‘‘(5) take such measures to reduce the risk (2) CLARIFICATION OF STATE JURISDICTION serted, insert the following: of fraud with respect to such transactions, as OVER UNLAWFUL CONDUCT OF FUNDING PORTALS established by the Commission, by rule, in- AND ISSUERS.—Section 18(c)(1) of the Securi- TITLE III—CROWDFUNDING cluding obtaining a background and securi- ties Act of 1933 (15 U.S.C. 77r(c)(1)) is amend- SEC. 301. SHORT TITLE. ties enforcement regulatory history check ed by striking ‘‘with respect to fraud or de- This title may be cited as the ‘‘Capital on each officer, director, and person holding ceit, or unlawful conduct by a broker or Raising Online While Deterring Fraud and more than 20 percent of the outstanding eq- dealer, in connection with securities or secu- Unethical Non-Disclosure Act of 2012’’ or the uity of every issuer whose securities are of- rities transactions.’’ and inserting the fol- ‘‘CROWDFUND Act of 2012’’. fered by such person; lowing: ‘‘, in connection with securities or SEC. 302. CROWDFUNDING EXEMPTION. securities transactions ‘‘(6) not later than 20 days prior to the first (a) SECURITIES ACT OF 1933.—Section 4 of ‘‘(A) with respect to— day on which securities are sold to any in- the Securities Act of 1933 (15 U.S.C. 77d) is vestor (or such other period as the Commis- ‘‘(i) fraud or deceit; or amended by adding at the end the following: ‘‘(ii) unlawful conduct by a broker or deal- sion may establish), make available to the ‘‘(6) transactions involving the offer or sale er; and Commission and to potential investors any of securities by an issuer (including all enti- ‘‘(B) in connection to a transaction de- information provided by the issuer pursuant ties controlled by or under common control scribed under section 4(6), with respect to— to subsection (b); with the issuer), provided that— ‘‘(i) fraud or deceit; or ‘‘(7) ensure that all offering proceeds are ‘‘(A) the aggregate amount sold to all in- ‘‘(ii) unlawful conduct by a broker, dealer, only provided to the issuer when the aggre- vestors by the issuer, including any amount funding portal, or issuer.’’. gate capital raised from all investors is sold in reliance on the exemption provided (c) NOTICE FILINGS PERMITTED.—Section equal to or greater than a target offering under this paragraph during the 12-month 18(c)(2) of the Securities Act of 1933 (15 U.S.C. amount, and allow all investors to cancel 77r(c)(2)) is amended by adding at the end the period preceding the date of such trans- action, is not more than $1,000,000; their commitments to invest, as the Com- following: mission shall, by rule, determine appro- ‘‘(F) FEES NOT PERMITTED ON CROWDFUNDED ‘‘(B) the aggregate amount sold to any in- vestor by an issuer, including any amount priate; SECURITIES.—Notwithstanding subparagraphs ‘‘(8) make such efforts as the Commission (A), (B), and (C), no filing or fee may be re- sold in reliance on the exemption provided determines appropriate, by rule, to ensure quired with respect to any security that is a under this paragraph during the 12-month that no investor in a 12-month period has covered security pursuant to subsection period preceding the date of such trans- purchased securities offered pursuant to sec- (b)(4)(B), or will be such a covered security action, does not exceed— tion 4(6) that, in the aggregate, from all upon completion of the transaction, except ‘‘(i) the greater of $2,000 or 5 percent of the for the securities commission (or any agency annual income or net worth of such investor, issuers, exceed the investment limits set or office performing like functions) of the as applicable, if either the annual income or forth in section 4(6)(B); State of the principal place of business of the the net worth of the investor is less than ‘‘(9) take such steps to protect the privacy issuer, or any State in which purchasers of 50 $100,000; and of information collected from investors as percent or greater of the aggregate amount ‘‘(ii) 10 percent of the annual income or net the Commission shall, by rule, determine ap- of the issue are residents, provided that for worth of such investor, as applicable, not to propriate; purposes of this subparagraph, the term exceed a maximum aggregate amount sold of ‘‘(10) not compensate promoters, finders, or ‘State’ includes the District of Columbia and $100,000, if either the annual income or net lead generators for providing the broker or the territories of the United States.’’. worth of the investor is equal to or more funding portal with the personal identifying (d) FUNDING PORTALS.— than $100,000; information of any potential investor; (1) STATE EXEMPTIONS AND OVERSIGHT.— ‘‘(C) the transaction is conducted through ‘‘(11) prohibit its directors, officers, or Section 15(i) of the Securities Exchange Act a broker or funding portal that complies partners (or any person occupying a similar of 1934 (15 U.S.C. 78o(i)) is amended— with the requirements of section 4A(a); and status or performing a similar function) (A) by redesignating paragraphs (2) and (3) ‘‘(D) the issuer complies with the require- from having any financial interest in an as paragraphs (3) and (4), respectively; and ments of section 4A(b).’’. issuer using its services; and (B) by inserting after paragraph (1) the fol- (b) REQUIREMENTS TO QUALIFY FOR ‘‘(12) meet such other requirements as the lowing: CROWDFUNDING EXEMPTION.—The Securities Commission may, by rule, prescribe, for the ‘‘(2) FUNDING PORTALS.— Act of 1933 (15 U.S.C. 77a et seq.) is amended protection of investors and in the public in- ‘‘(A) LIMITATION ON STATE LAWS.—Except as by inserting after section 4 the following: terest. provided in subparagraph (B), no State or po- ‘‘SEC. 4A. REQUIREMENTS WITH RESPECT TO ‘‘(b) REQUIREMENTS FOR ISSUERS.—For pur- litical subdivision thereof may enforce any CERTAIN SMALL TRANSACTIONS. poses of section 4(6), an issuer who offers or law, rule, regulation, or other administrative ‘‘(a) REQUIREMENTS ON INTERMEDIARIES.—A action against a registered funding portal person acting as an intermediary in a trans- sells securities shall— with respect to its business as such. action involving the offer or sale of securi- ‘‘(1) file with the Commission and provide ‘‘(B) EXAMINATION AND ENFORCEMENT AU- ties for the account of others pursuant to to investors and the relevant broker or fund- THORITY.—Subparagraph (A) does not apply section 4(6) shall— ing portal, and make available to potential with respect to the examination and enforce- ‘‘(1) register with the Commission as— investors— ment of any law, rule, regulation, or admin- ‘‘(A) a broker; or ‘‘(A) the name, legal status, physical ad- istrative action of a State or political sub- ‘‘(B) a funding portal (as defined in section dress, and website address of the issuer; division thereof in which the principal place 3(a)(80) of the Securities Exchange Act of ‘‘(B) the names of the directors and officers of business of a registered funding portal is 1934); (and any persons occupying a similar status located, provided that such law, rule, regula- ‘‘(2) register with any applicable self-regu- or performing a similar function), and each tion, or administrative action is not in addi- latory organization (as defined in section person holding more than 20 percent of the tion to or different from the requirements 3(a)(26) of the Securities Exchange Act of shares of the issuer; for registered funding portals established by 1934); ‘‘(C) a description of the business of the the Commission. ‘‘(3) provide such disclosures, including dis- issuer and the anticipated business plan of ‘‘(C) DEFINITION.—For purposes of this closures related to risks and other investor the issuer; paragraph, the term ‘State’ includes the Dis- education materials, as the Commission ‘‘(D) a description of the financial condi- trict of Columbia and the territories of the shall, by rule, determine appropriate; tion of the issuer, including, for offerings United States.’’. ‘‘(4) ensure that each investor— that, together with all other offerings of the (2) STATE FRAUD AUTHORITY.—Section ‘‘(A) reviews investor-education informa- issuer under section 4(6) within the preceding 18(c)(1) of the Securities Act of 1933 (15 U.S.C. tion, in accordance with standards estab- 12-month period, have, in the aggregate, tar- 77r(c)(1)) is amended by striking ‘‘or dealer’’ lished by the Commission, by rule; get offering amounts of— and inserting ‘‘, dealer, or funding portal’’. ‘‘(B) positively affirms that the investor ‘‘(i) $100,000 or less— understands that the investor is risking the ‘‘(I) the income tax returns filed by the SA 1926. Mr. MERKLEY submitted an loss of the entire investment, and that the issuer for the most recently completed year amendment intended to be proposed to investor could bear such a loss; and (if any); and

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‘‘(II) financial statements of the issuer, ‘‘(c) LIABILITY FOR MATERIAL ‘‘(2) is subject to the requirement to file re- which shall be certified by the principal ex- MISSTATEMENTS AND OMISSIONS.— ports pursuant to section 13 or section 15(d) ecutive officer of the issuer to be true and ‘‘(1) ACTIONS AUTHORIZED.— of the Securities Exchange Act of 1934; complete in all material respects; ‘‘(A) IN GENERAL.—Subject to paragraph ‘‘(3) is an investment company, as defined ‘‘(ii) more than $100,000, but not more than (2), a person who purchases a security in a in section 3 of the Investment Company Act $500,000, financial statements reviewed by a transaction exempted by the provisions of of 1940, or is excluded from the definition of public accountant who is independent of the section 4(6) may bring an action against an investment company by section 3(b) or sec- issuer, using professional standards and pro- issuer described in paragraph (2), either at tion 3(c) of that Act; or cedures for such review or standards and pro- law or in equity in any court of competent ‘‘(4) the Commission, by rule or regulation, cedures established by the Commission, by jurisdiction, to recover the consideration determines appropriate. rule, for such purpose; and paid for such security with interest thereon, ‘‘(g) RULE OF CONSTRUCTION.—Nothing in ‘‘(iii) more than $500,000 (or such other less the amount of any income received this section or section 4(6) shall be construed amount as the Commission may establish, by thereon, upon the tender of such security, or as preventing an issuer from raising capital rule), audited financial statements; for damages if such person no longer owns through methods not described under section ‘‘(E) a description of the stated purpose the security. 4(6). and intended use of the proceeds of the offer- ‘‘(B) LIABILITY.—An action brought under ing sought by the issuer with respect to the this paragraph shall be subject to the provi- ‘‘(h) CERTAIN CALCULATIONS.— target offering amount; sions of section 12(b) and section 13, as if the ‘‘(1) DOLLAR AMOUNTS.—Dollar amounts in ‘‘(F) the target offering amount, the dead- liability were created under section 12(a)(2). section 4(6) and subsection (b) of this section shall be adjusted by the Commission not less line to reach the target offering amount, and ‘‘(2) APPLICABILITY.—An issuer shall be lia- regular updates regarding the progress of the ble in an action under paragraph (1), if the frequently than once every 5 years, by notice issuer in meeting the target offering issuer— published in the Federal Register to reflect amount; ‘‘(A) by the use of any means or instru- any change in the Consumer Price Index for ‘‘(G) the price to the public of the securi- ments of transportation or communication All Urban Consumers published by the Bu- ties or the method for determining the price, in interstate commerce or of the mails, by reau of Labor Statistics. provided that, prior to sale, each investor any means of any written or oral commu- ‘‘(2) INCOME AND NET WORTH.—The income shall be provided in writing the final price nication, in the offering or sale of a security and net worth of a natural person under sec- and all required disclosures, with a reason- in a transaction exempted by the provisions tion 4(6)(B) shall be calculated in accordance able opportunity to rescind the commitment of section 4(6), makes an untrue statement of with any rules of the Commission under this to purchase the securities; a material fact or omits to state a material title regarding the calculation of the income ‘‘(H) a description of the ownership and fact required to be stated or necessary in and net worth, respectively, of an accredited capital structure of the issuer, including— order to make the statements, in the light of investor.’’. ‘‘(i) terms of the securities of the issuer the circumstances under which they were (c) RULEMAKING.—Not later than 271 days being offered and each other class of security made, not misleading, provided that the pur- after the date of enactment of this Act, the of the issuer, including how such terms may chaser did not know of such untruth or omis- Securities and Exchange Commission (in this be modified, and a summary of the dif- sion; and title referred to as the ‘‘Commission’’) shall ferences between such securities, including ‘‘(B) does not sustain the burden of proof issue such rules as the Commission deter- how the rights of the securities being offered that such issuer did not know, and in the ex- mines may be necessary or appropriate for may be materially limited, diluted, or quali- ercise of reasonable care could not have the protection of investors to carry out sec- fied by the rights of any other class of secu- known, of such untruth or omission. tions 4(6) and section 4A of the Securities rity of the issuer; ‘‘(3) DEFINITION.—As used in this sub- Act of 1933, as added by this title. In carrying ‘‘(ii) a description of how the exercise of section, the term ‘issuer’ includes any person out this section, the Commission shall con- the rights held by the principal shareholders who is a director or partner of the issuer, and sult with any securities commission (or any of the issuer could negatively impact the the principal executive officer or officers, agency or office performing like functions) purchasers of the securities being offered; principal financial officer, and controller or of the States, any territory of the United ‘‘(iii) the name and ownership level of each States, and the District of Columbia, which existing shareholder who owns more than 20 principal accounting officer of the issuer seeks to consult with the Commission, and percent of any class of the securities of the (and any person occupying a similar status with any applicable national securities asso- issuer; or performing a similar function) that offers ciation. ‘‘(iv) how the securities being offered are or sells a security in a transaction exempted being valued, and examples of methods for by the provisions of section 4(6), and any per- (d) DISQUALIFICATION.— how such securities may be valued by the son who offers or sells the security in such (1) IN GENERAL.—Not later than 270 days issuer in the future, including during subse- offering. after the date of enactment of this Act, the quent corporate actions; and ‘‘(d) INFORMATION AVAILABLE TO STATES.— Commission shall, by rule, establish dis- ‘‘(v) the risks to purchasers of the securi- The Commission shall make, or shall cause qualification provisions under which— ties relating to minority ownership in the to be made by the relevant broker or funding (A) an issuer shall not be eligible to offer issuer, the risks associated with corporate portal, the information described in sub- securities pursuant to section 4(6) of the Se- actions, including additional issuances of section (b) and such other information as the curities Act of 1933, as added by this title; shares, a sale of the issuer or of assets of the Commission, by rule, determines appro- and issuer, or transactions with related parties; priate, available to the securities commis- (B) a broker or funding portal shall not be and sion (or any agency or office performing like eligible to effect or participate in trans- ‘‘(I) such other information as the Commis- functions) of each State and territory of the actions pursuant to that section 4(6). sion may, by rule, prescribe, for the protec- United States and the District of Columbia. (2) INCLUSIONS.—Disqualification provi- tion of investors and in the public interest; ‘‘(e) RESTRICTIONS ON SALES.—Securities sions required by this subsection shall— ‘‘(2) not advertise the terms of the offering, issued pursuant to a transaction described in (A) be substantially similar to the provi- except for notices which direct investors to section 4(6)— sions of section 230.262 of title 17, Code of the funding portal or broker; ‘‘(1) may not be transferred by the pur- Federal Regulations (or any successor there- ‘‘(3) not compensate or commit to com- chaser of such securities during the 1-year to); and pensate, directly or indirectly, any person to period beginning on the date of purchase, un- (B) disqualify any offering or sale of secu- promote its offerings through communica- less such securities are transferred— rities by a person that— tion channels provided by a broker or fund- ‘‘(A) to the issuer of the securities; (i) is subject to a final order of a State se- ing portal, without taking such steps as the ‘‘(B) to an accredited investor; curities commission (or an agency or officer Commission shall, by rule, require to ensure ‘‘(C) as part of an offering registered with of a State performing like functions), a that such person clearly discloses the re- the Commission; or State authority that supervises or examines ceipt, past or prospective, of such compensa- ‘‘(D) to a member of the family of the pur- banks, savings associations, or credit unions, tion, upon each instance of such promotional chaser or the equivalent, or in connection a State insurance commission (or an agency communication; with the death or divorce of the purchaser or or officer of a State performing like func- ‘‘(4) not less than annually, file with the other similar circumstance, in the discretion tions), an appropriate Federal banking agen- Commission and provide to investors reports of the Commission; and cy, or the National Credit Union Administra- of the results of operations and financial ‘‘(2) shall be subject to such other limita- tion, that— statements of the issuer, as the Commission tions as the Commission shall, by rule, es- (I) bars the person from— shall, by rule, determine appropriate, subject tablish. (aa) association with an entity regulated to such exceptions and termination dates as ‘‘(f) APPLICABILITY.—Section 4(6) shall not by such commission, authority, agency, or the Commission may establish, by rule; and apply to transactions involving the offer or officer; ‘‘(5) comply with such other requirements sale of securities by any issuer that— (bb) engaging in the business of securities, as the Commission may, by rule, prescribe, ‘‘(1) is not organized under and subject to insurance, or banking; or for the protection of investors and in the the laws of a State or territory of the United (cc) engaging in savings association or public interest. States or the District of Columbia; credit union activities; or

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RELATIONSHIP WITH STATE LAW. for registered funding portals established by misdemeanor in connection with the pur- (a) IN GENERAL.—Section 18(b)(4) of the Se- the Commission. chase or sale of any security or involving the curities Act of 1933 (15 U.S.C. 77r(b)(4)) is ‘‘(C) DEFINITION.—For purposes of this making of any false filing with the Commis- amended— paragraph, the term ‘State’ includes the Dis- sion. (1) by redesignating subparagraphs (C) and trict of Columbia and the territories of the SEC. 303. EXCLUSION OF CROWDFUNDING INVES- (D) as subparagraphs (D) and (E), respec- United States.’’. TORS FROM SHAREHOLDER CAP. tively; and (2) STATE FRAUD AUTHORITY.—Section (a) EXEMPTION.—Section 12(g) of the Secu- (2) by inserting after subparagraph (B) the 18(c)(1) of the Securities Act of 1933 (15 U.S.C. rities Exchange Act of 1934 (15 U.S.C. 78l(g)) following: 77r(c)(1)) is amended by striking ‘‘or dealer’’ is amended by adding at the end the fol- ‘‘(C) section 4(6);’’. and inserting ‘‘, dealer, or funding portal’’. lowing: (b) CLARIFICATION OF THE PRESERVATION OF Mr. MERKLEY submitted an ‘‘(6) EXCLUSION FOR PERSONS HOLDING CER- SA 1927. STATE ENFORCEMENT AUTHORITY.— amendment intended to be proposed to TAIN SECURITIES.—The Commission shall, by (1) IN GENERAL.—The amendments made by rule, exempt, conditionally or uncondition- subsection (a) relate solely to State registra- amendment SA 1884 submitted by Mr. ally, securities acquired pursuant to an of- tion, documentation, and offering require- MERKLEY (for himself, Mr. BENNET, and fering made under section 4(6) of the Securi- ments, as described under section 18(a) of Se- Mr. BROWN of Massachusetts) and in- ties Act of 1933 from the provisions of this curities Act of 1933 (15 U.S.C. 77r(a)), and tended to be proposed to the bill H.R. subsection.’’. shall have no impact or limitation on other 3606, to increase American job creation (b) RULEMAKING.—The Commission shall State authority to take enforcement action and economic growth by improving ac- issue a rule to carry out section 12(g)(6) of with regard to an issuer, funding portal, or cess to the public capital markets for the Securities Exchange Act of 1934 (15 any other person or entity using the exemp- emerging growth companies; which was U.S.C. 78c), as added by this section, not tion from registration provided by section ordered to lie on the table; as follows: later than 270 days after the date of enact- 4(6) of that Act. On page 1, strike line 2 and all that follows ment of this Act. (2) CLARIFICATION OF STATE JURISDICTION through page 24, line 14 and insert the fol- SEC. 304. FUNDING PORTAL REGULATION. OVER UNLAWFUL CONDUCT OF FUNDING PORTALS lowing: (a) EXEMPTION.— AND ISSUERS.—Section 18(c)(1) of the Securi- SEC. 301. SHORT TITLE. (1) IN GENERAL.—Section 3 of the Securities ties Act of 1933 (15 U.S.C. 77r(c)(1)) is amend- This title may be cited as the ‘‘Capital Exchange Act of 1934 (15 U.S.C. 78c) is ed by striking ‘‘with respect to fraud or de- Raising Online While Deterring Fraud and amended by adding at the end the following: ceit, or unlawful conduct by a broker or Unethical Non-Disclosure Act of 2012’’ or the ‘‘(h) LIMITED EXEMPTION FOR FUNDING POR- dealer, in connection with securities or secu- ‘‘CROWDFUND Act’’ TALS.— rities transactions.’’ and inserting the fol- SEC. 302. CROWDFUNDING EXEMPTION. ‘‘(1) IN GENERAL.—The Commission shall, lowing: ‘‘, in connection with securities or (a) SECURITIES ACT OF 1933.—Section 4 of by rule, exempt, conditionally or uncondi- securities transactions the Securities Act of 1933 (15 U.S.C. 77d) is tionally, a registered funding portal from the ‘‘(A) with respect to— amended by adding at the end the following: requirement to register as a broker or dealer ‘‘(i) fraud or deceit; or ‘‘(6) transactions involving the offer or sale under section 15(a)(1), provided that such ‘‘(ii) unlawful conduct by a broker or deal- of securities by an issuer (including all enti- funding portal— er; and ties controlled by or under common control ‘‘(B) in connection to a transaction de- ‘‘(A) remains subject to the examination, with the issuer), provided that— enforcement, and other rulemaking author- scribed under section 4(6), with respect to— ‘‘(A) the aggregate amount sold to all in- ity of the Commission; ‘‘(i) fraud or deceit; or vestors by the issuer, including any amount ‘‘(B) is a member of a national securities ‘‘(ii) unlawful conduct by a broker, dealer, sold in reliance on the exemption provided association registered under section 15A; and funding portal, or issuer.’’. under this paragraph during the 12-month ‘‘(C) is subject to such other requirements (c) NOTICE FILINGS PERMITTED.—Section period preceding the date of such trans- under this title as the Commission deter- 18(c)(2) of the Securities Act of 1933 (15 U.S.C. action, is not more than $1,000,000; mines appropriate under such rule. 77r(c)(2)) is amended by adding at the end the ‘‘(B) the aggregate amount sold to any in- ‘‘(2) NATIONAL SECURITIES ASSOCIATION MEM- following: vestor by an issuer, including any amount BERSHIP.—For purposes of sections 15(b)(8) ‘‘(F) FEES NOT PERMITTED ON CROWDFUNDED sold in reliance on the exemption provided and 15A, the term ‘broker or dealer’ includes SECURITIES.—Notwithstanding subparagraphs under this paragraph during the 12-month a funding portal and the term ‘registered (A), (B), and (C), no filing or fee may be re- period preceding the date of such trans- broker or dealer’ includes a registered fund- quired with respect to any security that is a action, does not exceed— ing portal, except to the extent that the covered security pursuant to subsection ‘‘(i) the greater of $2,000 or 5 percent of the Commission, by rule, determines otherwise, (b)(4)(B), or will be such a covered security annual income or net worth of such investor, provided that a national securities associa- upon completion of the transaction, except as applicable, if either the annual income or tion shall only examine for and enforce for the securities commission (or any agency the net worth of the investor is less than against a registered funding portal rules of or office performing like functions) of the $100,000; and such national securities association written State of the principal place of business of the ‘‘(ii) 10 percent of the annual income or net specifically for registered funding portals.’’. issuer, or any State in which purchasers of 50 worth of such investor, as applicable, not to (2) RULEMAKING.—The Commission shall percent or greater of the aggregate amount exceed a maximum aggregate amount sold of issue a rule to carry out section 3(h) of the of the issue are residents, provided that for $100,000, if either the annual income or net Securities Exchange Act of 1934 (15 U.S.C. purposes of this subparagraph, the term worth of the investor is equal to or more 78c), as added by this subsection, not later ‘State’ includes the District of Columbia and than $100,000; than 270 days after the date of enactment of the territories of the United States.’’. ‘‘(C) the transaction is conducted through this Act. (d) FUNDING PORTALS.— a broker or funding portal that complies (b) DEFINITION.—Section 3(a) of the Securi- (1) STATE EXEMPTIONS AND OVERSIGHT.— with the requirements of section 4A(a); and ties Exchange Act of 1934 (15 U.S.C. 78c(a)) is Section 15(i) of the Securities Exchange Act ‘‘(D) the issuer complies with the require- amended by adding at the end the following: of 1934 (15 U.S.C. 78o(i)) is amended— ments of section 4A(b).’’. ‘‘(80) FUNDING PORTAL.—The term ‘funding (A) by redesignating paragraphs (2) and (3) (b) REQUIREMENTS TO QUALIFY FOR portal’ means any person acting as an inter- as paragraphs (3) and (4), respectively; and CROWDFUNDING EXEMPTION.—The Securities mediary in a transaction involving the offer (B) by inserting after paragraph (1) the fol- Act of 1933 (15 U.S.C. 77a et seq.) is amended or sale of securities for the account of oth- lowing: by inserting after section 4 the following: ers, solely pursuant to section 4(6) of the Se- ‘‘(2) FUNDING PORTALS.— ‘‘SEC. 4A. REQUIREMENTS WITH RESPECT TO curities Act of 1933 (15 U.S.C. 77d(6)), that ‘‘(A) LIMITATION ON STATE LAWS.—Except as CERTAIN SMALL TRANSACTIONS. does not— provided in subparagraph (B), no State or po- ‘‘(a) REQUIREMENTS ON INTERMEDIARIES.—A ‘‘(A) offer investment advice or rec- litical subdivision thereof may enforce any person acting as an intermediary in a trans- ommendations; law, rule, regulation, or other administrative action involving the offer or sale of securi- ‘‘(B) solicit purchases, sales, or offers to action against a registered funding portal ties for the account of others pursuant to buy the securities offered or displayed on its with respect to its business as such. section 4(6) shall— website or portal; ‘‘(B) EXAMINATION AND ENFORCEMENT AU- ‘‘(1) register with the Commission as— ‘‘(C) compensate employees, agents, or THORITY.—Subparagraph (A) does not apply ‘‘(A) a broker; or other persons for such solicitation or based with respect to the examination and enforce- ‘‘(B) a funding portal (as defined in section on the sale of securities displayed or ref- ment of any law, rule, regulation, or admin- 3(a)(80) of the Securities Exchange Act of erenced on its website or portal; istrative action of a State or political sub- 1934);

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00049 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.036 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1866 CONGRESSIONAL RECORD — SENATE March 20, 2012 ‘‘(2) register with any applicable self-regu- ‘‘(C) a description of the business of the tion, upon each instance of such promotional latory organization (as defined in section issuer and the anticipated business plan of communication; 3(a)(26) of the Securities Exchange Act of the issuer; ‘‘(4) not less than annually, file with the 1934); ‘‘(D) a description of the financial condi- Commission and provide to investors reports ‘‘(3) provide such disclosures, including dis- tion of the issuer, including, for offerings of the results of operations and financial closures related to risks and other investor that, together with all other offerings of the statements of the issuer, as the Commission education materials, as the Commission issuer under section 4(6) within the preceding shall, by rule, determine appropriate, subject shall, by rule, determine appropriate; 12-month period, have, in the aggregate, tar- to such exceptions and termination dates as ‘‘(4) ensure that each investor— get offering amounts of— the Commission may establish, by rule; and ‘‘(A) reviews investor-education informa- ‘‘(i) $100,000 or less— ‘‘(5) comply with such other requirements tion, in accordance with standards estab- ‘‘(I) the income tax returns filed by the as the Commission may, by rule, prescribe, lished by the Commission, by rule; issuer for the most recently completed year for the protection of investors and in the ‘‘(B) positively affirms that the investor (if any); and public interest. understands that the investor is risking the ‘‘(II) financial statements of the issuer, ‘‘(c) LIABILITY FOR MATERIAL loss of the entire investment, and that the which shall be certified by the principal ex- MISSTATEMENTS AND OMISSIONS.— investor could bear such a loss; and ecutive officer of the issuer to be true and ‘‘(1) ACTIONS AUTHORIZED.— ‘‘(C) answers questions demonstrating— complete in all material respects; ‘‘(A) IN GENERAL.—Subject to paragraph ‘‘(i) an understanding of the level of risk ‘‘(ii) more than $100,000, but not more than (2), a person who purchases a security in a generally applicable to investments in $500,000, financial statements reviewed by a transaction exempted by the provisions of startups, emerging businesses, and small public accountant who is independent of the section 4(6) may bring an action against an issuers; issuer, using professional standards and pro- issuer described in paragraph (2), either at ‘‘(ii) an understanding of the risk of cedures for such review or standards and pro- law or in equity in any court of competent illiquidity; and cedures established by the Commission, by jurisdiction, to recover the consideration ‘‘(iii) an understanding of such other mat- rule, for such purpose; and paid for such security with interest thereon, ters as the Commission determines appro- ‘‘(iii) more than $500,000 (or such other less the amount of any income received priate, by rule; amount as the Commission may establish, by thereon, upon the tender of such security, or ‘‘(5) take such measures to reduce the risk rule), audited financial statements; for damages if such person no longer owns of fraud with respect to such transactions, as ‘‘(E) a description of the stated purpose the security. established by the Commission, by rule, in- and intended use of the proceeds of the offer- ‘‘(B) LIABILITY.—An action brought under cluding obtaining a background and securi- ing sought by the issuer with respect to the this paragraph shall be subject to the provi- ties enforcement regulatory history check target offering amount; sions of section 12(b) and section 13, as if the on each officer, director, and person holding ‘‘(F) the target offering amount, the dead- liability were created under section 12(a)(2). more than 20 percent of the outstanding eq- line to reach the target offering amount, and ‘‘(2) APPLICABILITY.—An issuer shall be lia- uity of every issuer whose securities are of- regular updates regarding the progress of the ble in an action under paragraph (1), if the fered by such person; issuer in meeting the target offering issuer— ‘‘(6) not later than 21 days prior to the first amount; ‘‘(A) by the use of any means or instru- day on which securities are sold to any in- ‘‘(G) the price to the public of the securi- ments of transportation or communication vestor (or such other period as the Commis- ties or the method for determining the price, in interstate commerce or of the mails, by sion may establish), make available to the provided that, prior to sale, each investor any means of any written or oral commu- Commission and to potential investors any shall be provided in writing the final price nication, in the offering or sale of a security information provided by the issuer pursuant and all required disclosures, with a reason- in a transaction exempted by the provisions to subsection (b); able opportunity to rescind the commitment of section 4(6), makes an untrue statement of ‘‘(7) ensure that all offering proceeds are to purchase the securities; a material fact or omits to state a material only provided to the issuer when the aggre- ‘‘(H) a description of the ownership and fact required to be stated or necessary in gate capital raised from all investors is capital structure of the issuer, including— order to make the statements, in the light of equal to or greater than a target offering ‘‘(i) terms of the securities of the issuer the circumstances under which they were amount, and allow all investors to cancel being offered and each other class of security made, not misleading, provided that the pur- their commitments to invest, as the Com- of the issuer, including how such terms may chaser did not know of such untruth or omis- mission shall, by rule, determine appro- be modified, and a summary of the dif- sion; and priate; ferences between such securities, including ‘‘(B) does not sustain the burden of proof ‘‘(8) make such efforts as the Commission how the rights of the securities being offered that such issuer did not know, and in the ex- determines appropriate, by rule, to ensure may be materially limited, diluted, or quali- ercise of reasonable care could not have that no investor in a 12-month period has fied by the rights of any other class of secu- known, of such untruth or omission. rity of the issuer; purchased securities offered pursuant to sec- ‘‘(3) DEFINITION.—As used in this sub- tion 4(6) that, in the aggregate, from all ‘‘(ii) a description of how the exercise of section, the term ‘issuer’ includes any person issuers, exceed the investment limits set the rights held by the principal shareholders who is a director or partner of the issuer, and forth in section 4(6)(B); of the issuer could negatively impact the the principal executive officer or officers, ‘‘(9) take such steps to protect the privacy purchasers of the securities being offered; principal financial officer, and controller or ‘‘(iii) the name and ownership level of each of information collected from investors as principal accounting officer of the issuer existing shareholder who owns more than 20 the Commission shall, by rule, determine ap- (and any person occupying a similar status percent of any class of the securities of the propriate; or performing a similar function) that offers issuer; ‘‘(10) not compensate promoters, finders, or or sells a security in a transaction exempted ‘‘(iv) how the securities being offered are lead generators for providing the broker or by the provisions of section 4(6), and any per- being valued, and examples of methods for funding portal with the personal identifying son who offers or sells the security in such how such securities may be valued by the information of any potential investor; offering. issuer in the future, including during subse- ‘‘(11) prohibit its directors, officers, or ‘‘(d) INFORMATION AVAILABLE TO STATES.— partners (or any person occupying a similar quent corporate actions; and The Commission shall make, or shall cause status or performing a similar function) ‘‘(v) the risks to purchasers of the securi- to be made by the relevant broker or funding from having any financial interest in an ties relating to minority ownership in the portal, the information described in sub- issuer using its services; and issuer, the risks associated with corporate section (b) and such other information as the ‘‘(12) meet such other requirements as the actions, including additional issuances of Commission, by rule, determines appro- Commission may, by rule, prescribe, for the shares, a sale of the issuer or of assets of the priate, available to the securities commis- protection of investors and in the public in- issuer, or transactions with related parties; sion (or any agency or office performing like terest. and functions) of each State and territory of the ‘‘(b) REQUIREMENTS FOR ISSUERS.—For pur- ‘‘(I) such other information as the Commis- United States and the District of Columbia. poses of section 4(6), an issuer who offers or sion may, by rule, prescribe, for the protec- ‘‘(e) RESTRICTIONS ON SALES.—Securities sells securities shall— tion of investors and in the public interest; issued pursuant to a transaction described in ‘‘(1) file with the Commission and provide ‘‘(2) not advertise the terms of the offering, section 4(6)— to investors and the relevant broker or fund- except for notices which direct investors to ‘‘(1) may not be transferred by the pur- ing portal, and make available to potential the funding portal or broker; chaser of such securities during the 1-year investors— ‘‘(3) not compensate or commit to com- period beginning on the date of purchase, un- ‘‘(A) the name, legal status, physical ad- pensate, directly or indirectly, any person to less such securities are transferred— dress, and website address of the issuer; promote its offerings through communica- ‘‘(A) to the issuer of the securities; ‘‘(B) the names of the directors and officers tion channels provided by a broker or fund- ‘‘(B) to an accredited investor; (and any persons occupying a similar status ing portal, without taking such steps as the ‘‘(C) as part of an offering registered with or performing a similar function), and each Commission shall, by rule, require to ensure the Commission; or person holding more than 20 percent of the that such person clearly discloses the re- ‘‘(D) to a member of the family of the pur- shares of the issuer; ceipt, past or prospective, of such compensa- chaser or the equivalent, or in connection

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00050 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.034 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1867 with the death or divorce of the purchaser or cy, or the National Credit Union Administra- ‘‘(A) offer investment advice or rec- other similar circumstance, in the discretion tion, that— ommendations; of the Commission; and (I) bars the person from— ‘‘(B) solicit purchases, sales, or offers to ‘‘(2) shall be subject to such other limita- (aa) association with an entity regulated buy the securities offered or displayed on its tions as the Commission shall, by rule, es- by such commission, authority, agency, or website or portal; tablish. officer; ‘‘(C) compensate employees, agents, or ‘‘(f) APPLICABILITY.—Section 4(6) shall not (bb) engaging in the business of securities, other persons for such solicitation or based apply to transactions involving the offer or insurance, or banking; or on the sale of securities displayed or ref- sale of securities by any issuer that— (cc) engaging in savings association or erenced on its website or portal; ‘‘(1) is not organized under and subject to credit union activities; or ‘‘(D) hold, manage, possess, or otherwise the laws of a State or territory of the United (II) constitutes a final order based on a vio- handle investor funds or securities; or States or the District of Columbia; lation of any law or regulation that pro- ‘‘(E) engage in such other activities as the ‘‘(2) is subject to the requirement to file re- hibits fraudulent, manipulative, or deceptive Commission, by rule, determines appro- ports pursuant to section 13 or section 15(d) conduct within the 10-year period ending on priate.’’. of the Securities Exchange Act of 1934; the date of the filing of the offer or sale; or SEC. 305. RELATIONSHIP WITH STATE LAW. ‘‘(3) is an investment company, as defined (ii) has been convicted of any felony or (a) IN GENERAL.—Section 18(b)(4) of the Se- in section 3 of the Investment Company Act misdemeanor in connection with the pur- curities Act of 1933 (15 U.S.C. 77r(b)(4)) is of 1940, or is excluded from the definition of chase or sale of any security or involving the amended— investment company by section 3(b) or sec- making of any false filing with the Commis- (1) by redesignating subparagraphs (C) and tion 3(c) of that Act; or sion. (D) as subparagraphs (D) and (E), respec- ‘‘(4) the Commission, by rule or regulation, SEC. 303. EXCLUSION OF CROWDFUNDING INVES- tively; and determines appropriate. TORS FROM SHAREHOLDER CAP. (2) by inserting after subparagraph (B) the ‘‘(g) RULE OF CONSTRUCTION.—Nothing in (a) EXEMPTION.—Section 12(g) of the Secu- following: this section or section 4(6) shall be construed rities Exchange Act of 1934 (15 U.S.C. 78l(g)) ‘‘(C) section 4(6);’’. as preventing an issuer from raising capital is amended by adding at the end the fol- (b) CLARIFICATION OF THE PRESERVATION OF through methods not described under section lowing: STATE ENFORCEMENT AUTHORITY.— 4(6). ‘‘(6) EXCLUSION FOR PERSONS HOLDING CER- (1) IN GENERAL.—The amendments made by ‘‘(h) CERTAIN CALCULATIONS.— TAIN SECURITIES.—The Commission shall, by subsection (a) relate solely to State registra- ‘‘(1) DOLLAR AMOUNTS.—Dollar amounts in rule, exempt, conditionally or uncondition- tion, documentation, and offering require- section 4(6) and subsection (b) of this section ally, securities acquired pursuant to an of- ments, as described under section 18(a) of Se- shall be adjusted by the Commission not less fering made under section 4(6) of the Securi- curities Act of 1933 (15 U.S.C. 77r(a)), and frequently than once every 5 years, by notice ties Act of 1933 from the provisions of this shall have no impact or limitation on other published in the Federal Register to reflect subsection.’’. State authority to take enforcement action any change in the Consumer Price Index for (b) RULEMAKING.—The Commission shall with regard to an issuer, funding portal, or All Urban Consumers published by the Bu- issue a rule to carry out section 12(g)(6) of any other person or entity using the exemp- reau of Labor Statistics. the Securities Exchange Act of 1934 (15 tion from registration provided by section ‘‘(2) INCOME AND NET WORTH.—The income U.S.C. 78c), as added by this section, not 4(6) of that Act. and net worth of a natural person under sec- later than 270 days after the date of enact- (2) CLARIFICATION OF STATE JURISDICTION tion 4(6)(B) shall be calculated in accordance ment of this Act. OVER UNLAWFUL CONDUCT OF FUNDING PORTALS with any rules of the Commission under this SEC. 304. FUNDING PORTAL REGULATION. AND ISSUERS.—Section 18(c)(1) of the Securi- title regarding the calculation of the income (a) EXEMPTION.— ties Act of 1933 (15 U.S.C. 77r(c)(1)) is amend- and net worth, respectively, of an accredited (1) IN GENERAL.—Section 3 of the Securities ed by striking ‘‘with respect to fraud or de- investor.’’. Exchange Act of 1934 (15 U.S.C. 78c) is ceit, or unlawful conduct by a broker or (c) RULEMAKING.—Not later than 270 days amended by adding at the end the following: dealer, in connection with securities or secu- after the date of enactment of this Act, the ‘‘(h) LIMITED EXEMPTION FOR FUNDING POR- rities transactions.’’ and inserting the fol- Securities and Exchange Commission (in this TALS.— lowing: ‘‘, in connection with securities or title referred to as the ‘‘Commission’’) shall ‘‘(1) IN GENERAL.—The Commission shall, securities transactions issue such rules as the Commission deter- by rule, exempt, conditionally or uncondi- ‘‘(A) with respect to— mines may be necessary or appropriate for tionally, a registered funding portal from the ‘‘(i) fraud or deceit; or the protection of investors to carry out sec- requirement to register as a broker or dealer ‘‘(ii) unlawful conduct by a broker or deal- tions 4(6) and section 4A of the Securities under section 15(a)(1), provided that such er; and Act of 1933, as added by this title. In carrying funding portal— ‘‘(B) in connection to a transaction de- out this section, the Commission shall con- ‘‘(A) remains subject to the examination, scribed under section 4(6), with respect to— sult with any securities commission (or any enforcement, and other rulemaking author- ‘‘(i) fraud or deceit; or agency or office performing like functions) ity of the Commission; ‘‘(ii) unlawful conduct by a broker, dealer, of the States, any territory of the United ‘‘(B) is a member of a national securities funding portal, or issuer.’’. States, and the District of Columbia, which association registered under section 15A; and (c) NOTICE FILINGS PERMITTED.—Section seeks to consult with the Commission, and ‘‘(C) is subject to such other requirements 18(c)(2) of the Securities Act of 1933 (15 U.S.C. with any applicable national securities asso- under this title as the Commission deter- 77r(c)(2)) is amended by adding at the end the ciation. mines appropriate under such rule. following: (d) DISQUALIFICATION.— ‘‘(2) NATIONAL SECURITIES ASSOCIATION MEM- ‘‘(F) FEES NOT PERMITTED ON CROWDFUNDED (1) IN GENERAL.—Not later than 271 days BERSHIP.—For purposes of sections 15(b)(8) SECURITIES.—Notwithstanding subparagraphs after the date of enactment of this Act, the and 15A, the term ‘broker or dealer’ includes (A), (B), and (C), no filing or fee may be re- Commission shall, by rule, establish dis- a funding portal and the term ‘registered quired with respect to any security that is a qualification provisions under which— broker or dealer’ includes a registered fund- covered security pursuant to subsection (A) an issuer shall not be eligible to offer ing portal, except to the extent that the (b)(4)(B), or will be such a covered security securities pursuant to section 4(6) of the Se- Commission, by rule, determines otherwise, upon completion of the transaction, except curities Act of 1933, as added by this title; provided that a national securities associa- for the securities commission (or any agency and tion shall only examine for and enforce or office performing like functions) of the (B) a broker or funding portal shall not be against a registered funding portal rules of State of the principal place of business of the eligible to effect or participate in trans- such national securities association written issuer, or any State in which purchasers of 50 actions pursuant to that section 4(6). specifically for registered funding portals.’’. percent or greater of the aggregate amount (2) INCLUSIONS.—Disqualification provi- (2) RULEMAKING.—The Commission shall of the issue are residents, provided that for sions required by this subsection shall— issue a rule to carry out section 3(h) of the purposes of this subparagraph, the term (A) be substantially similar to the provi- Securities Exchange Act of 1934 (15 U.S.C. ‘State’ includes the District of Columbia and sions of section 230.262 of title 17, Code of 78c), as added by this subsection, not later the territories of the United States.’’. Federal Regulations (or any successor there- than 270 days after the date of enactment of (d) FUNDING PORTALS.— to); and this Act. (1) STATE EXEMPTIONS AND OVERSIGHT.— (B) disqualify any offering or sale of secu- (b) DEFINITION.—Section 3(a) of the Securi- Section 15(i) of the Securities Exchange Act rities by a person that— ties Exchange Act of 1934 (15 U.S.C. 78c(a)) is of 1934 (15 U.S.C. 78o(i)) is amended— (i) is subject to a final order of a State se- amended by adding at the end the following: (A) by redesignating paragraphs (2) and (3) curities commission (or an agency or officer ‘‘(80) FUNDING PORTAL.—The term ‘funding as paragraphs (3) and (4), respectively; and of a State performing like functions), a portal’ means any person acting as an inter- (B) by inserting after paragraph (1) the fol- State authority that supervises or examines mediary in a transaction involving the offer lowing: banks, savings associations, or credit unions, or sale of securities for the account of oth- ‘‘(2) FUNDING PORTALS.— a State insurance commission (or an agency ers, solely pursuant to section 4(6) of the Se- ‘‘(A) LIMITATION ON STATE LAWS.—Except as or officer of a State performing like func- curities Act of 1933 (15 U.S.C. 77d(6)), that provided in subparagraph (B), no State or po- tions), an appropriate Federal banking agen- does not— litical subdivision thereof may enforce any

VerDate Mar 15 2010 02:15 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00051 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.034 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1868 CONGRESSIONAL RECORD — SENATE March 20, 2012 law, rule, regulation, or other administrative ‘‘(1) register with the Commission as— ‘‘(B) the names of the directors and officers action against a registered funding portal ‘‘(A) a broker; or (and any persons occupying a similar status with respect to its business as such. ‘‘(B) a funding portal (as defined in section or performing a similar function), and each ‘‘(B) EXAMINATION AND ENFORCEMENT AU- 3(a)(80) of the Securities Exchange Act of person holding more than 20 percent of the THORITY.—Subparagraph (A) does not apply 1934); shares of the issuer; with respect to the examination and enforce- ‘‘(2) register with any applicable self-regu- ‘‘(C) a description of the business of the ment of any law, rule, regulation, or admin- latory organization (as defined in section issuer and the anticipated business plan of istrative action of a State or political sub- 3(a)(26) of the Securities Exchange Act of the issuer; division thereof in which the principal place 1934); ‘‘(D) a description of the financial condi- of business of a registered funding portal is ‘‘(3) provide such disclosures, including dis- tion of the issuer, including, for offerings located, provided that such law, rule, regula- closures related to risks and other investor that, together with all other offerings of the tion, or administrative action is not in addi- education materials, as the Commission issuer under section 4(6) within the preceding tion to or different from the requirements shall, by rule, determine appropriate; 12-month period, have, in the aggregate, tar- for registered funding portals established by ‘‘(4) ensure that each investor— get offering amounts of— the Commission. ‘‘(A) reviews investor-education informa- ‘‘(i) $100,000 or less— ‘‘(C) DEFINITION.—For purposes of this tion, in accordance with standards estab- ‘‘(I) the income tax returns filed by the paragraph, the term ‘State’ includes the Dis- lished by the Commission, by rule; issuer for the most recently completed year trict of Columbia and the territories of the ‘‘(B) positively affirms that the investor (if any); and understands that the investor is risking the United States.’’. ‘‘(II) financial statements of the issuer, loss of the entire investment, and that the (2) STATE FRAUD AUTHORITY.—Section which shall be certified by the principal ex- investor could bear such a loss; and 18(c)(1) of the Securities Act of 1933 (15 U.S.C. ecutive officer of the issuer to be true and ‘‘(C) answers questions demonstrating— 77r(c)(1)) is amended by striking ‘‘or dealer’’ complete in all material respects; ‘‘(i) an understanding of the level of risk and inserting ‘‘, dealer, or funding portal’’. ‘‘(ii) more than $100,000, but not more than generally applicable to investments in $500,000, financial statements reviewed by a startups, emerging businesses, and small SA 1928. Mr. MERKLEY submitted an public accountant who is independent of the issuers; amendment intended to be proposed to issuer, using professional standards and pro- amendment SA 1884 submitted by Mr. ‘‘(ii) an understanding of the risk of illiquidity; and cedures for such review or standards and pro- MERKLEY (for himself, Mr. BENNET, and ‘‘(iii) an understanding of such other mat- cedures established by the Commission, by Mr. BROWN of Massachusetts) and in- ters as the Commission determines appro- rule, for such purpose; and tended to be proposed to the bill H.R. priate, by rule; ‘‘(iii) more than $500,000 (or such other 3606, to increase American job creation ‘‘(5) take such measures to reduce the risk amount as the Commission may establish, by and economic growth by improving ac- of fraud with respect to such transactions, as rule), audited financial statements; established by the Commission, by rule, in- ‘‘(E) a description of the stated purpose cess to the public capital markets for and intended use of the proceeds of the offer- emerging growth companies; which was cluding obtaining a background and securi- ties enforcement regulatory history check ing sought by the issuer with respect to the ordered to lie on the table; as follows: on each officer, director, and person holding target offering amount; On page 1, strike line 6 and all that follows more than 20 percent of the outstanding eq- ‘‘(F) the target offering amount, the dead- through page 24, line 14 and insert the fol- uity of every issuer whose securities are of- line to reach the target offering amount, and lowing: ‘‘of 212’ or the ‘CROWDFUND Act of fered by such person; regular updates regarding the progress of the 2012’. ‘‘(6) not later than 21 days prior to the first issuer in meeting the target offering SEC. 302. CROWDFUNDING EXEMPTION. day on which securities are sold to any in- amount; (a) SECURITIES ACT OF 1933.—Section 4 of vestor (or such other period as the Commis- ‘‘(G) the price to the public of the securi- the Securities Act of 1933 (15 U.S.C. 77d) is sion may establish), make available to the ties or the method for determining the price, amended by adding at the end the following: Commission and to potential investors any provided that, prior to sale, each investor ‘‘(6) transactions involving the offer or sale information provided by the issuer pursuant shall be provided in writing the final price of securities by an issuer (including all enti- to subsection (b); and all required disclosures, with a reason- ties controlled by or under common control ‘‘(7) ensure that all offering proceeds are able opportunity to rescind the commitment with the issuer), provided that— only provided to the issuer when the aggre- to purchase the securities; ‘‘(A) the aggregate amount sold to all in- gate capital raised from all investors is ‘‘(H) a description of the ownership and vestors by the issuer, including any amount equal to or greater than a target offering capital structure of the issuer, including— sold in reliance on the exemption provided amount, and allow all investors to cancel ‘‘(i) terms of the securities of the issuer under this paragraph during the 12-month their commitments to invest, as the Com- being offered and each other class of security period preceding the date of such trans- mission shall, by rule, determine appro- of the issuer, including how such terms may action, is not more than $1,000,000; priate; be modified, and a summary of the dif- ‘‘(B) the aggregate amount sold to any in- ‘‘(8) make such efforts as the Commission ferences between such securities, including vestor by an issuer, including any amount determines appropriate, by rule, to ensure how the rights of the securities being offered sold in reliance on the exemption provided that no investor in a 12-month period has may be materially limited, diluted, or quali- under this paragraph during the 12-month purchased securities offered pursuant to sec- fied by the rights of any other class of secu- period preceding the date of such trans- tion 4(6) that, in the aggregate, from all rity of the issuer; action, does not exceed— issuers, exceed the investment limits set ‘‘(ii) a description of how the exercise of ‘‘(i) the greater of $2,000 or 5 percent of the forth in section 4(6)(B); the rights held by the principal shareholders annual income or net worth of such investor, ‘‘(9) take such steps to protect the privacy of the issuer could negatively impact the as applicable, if either the annual income or of information collected from investors as purchasers of the securities being offered; the net worth of the investor is less than the Commission shall, by rule, determine ap- ‘‘(iii) the name and ownership level of each $100,000; and propriate; existing shareholder who owns more than 20 ‘‘(ii) 10 percent of the annual income or net ‘‘(10) not compensate promoters, finders, or percent of any class of the securities of the worth of such investor, as applicable, not to lead generators for providing the broker or issuer; exceed a maximum aggregate amount sold of funding portal with the personal identifying ‘‘(iv) how the securities being offered are $100,000, if either the annual income or net information of any potential investor; being valued, and examples of methods for worth of the investor is equal to or more ‘‘(11) prohibit its directors, officers, or how such securities may be valued by the than $100,000; partners (or any person occupying a similar issuer in the future, including during subse- ‘‘(C) the transaction is conducted through status or performing a similar function) quent corporate actions; and a broker or funding portal that complies from having any financial interest in an ‘‘(v) the risks to purchasers of the securi- with the requirements of section 4A(a); and issuer using its services; and ties relating to minority ownership in the ‘‘(D) the issuer complies with the require- ‘‘(12) meet such other requirements as the issuer, the risks associated with corporate ments of section 4A(b).’’. Commission may, by rule, prescribe, for the actions, including additional issuances of (b) REQUIREMENTS TO QUALIFY FOR protection of investors and in the public in- shares, a sale of the issuer or of assets of the CROWDFUNDING EXEMPTION.—The Securities terest. issuer, or transactions with related parties; Act of 1933 (15 U.S.C. 77a et seq.) is amended ‘‘(b) REQUIREMENTS FOR ISSUERS.—For pur- and by inserting after section 4 the following: poses of section 4(6), an issuer who offers or ‘‘(I) such other information as the Commis- ‘‘SEC. 4A. REQUIREMENTS WITH RESPECT TO sells securities shall— sion may, by rule, prescribe, for the protec- CERTAIN SMALL TRANSACTIONS. ‘‘(1) file with the Commission and provide tion of investors and in the public interest; ‘‘(a) REQUIREMENTS ON INTERMEDIARIES.—A to investors and the relevant broker or fund- ‘‘(2) not advertise the terms of the offering, person acting as an intermediary in a trans- ing portal, and make available to potential except for notices which direct investors to action involving the offer or sale of securi- investors— the funding portal or broker; ties for the account of others pursuant to ‘‘(A) the name, legal status, physical ad- ‘‘(3) not compensate or commit to com- section 4(6) shall— dress, and website address of the issuer; pensate, directly or indirectly, any person to

VerDate Mar 15 2010 02:17 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00052 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.034 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1869 promote its offerings through communica- ‘‘(A) to the issuer of the securities; of a State performing like functions), a tion channels provided by a broker or fund- ‘‘(B) to an accredited investor; State authority that supervises or examines ing portal, without taking such steps as the ‘‘(C) as part of an offering registered with banks, savings associations, or credit unions, Commission shall, by rule, require to ensure the Commission; or a State insurance commission (or an agency that such person clearly discloses the re- ‘‘(D) to a member of the family of the pur- or officer of a State performing like func- ceipt, past or prospective, of such compensa- chaser or the equivalent, or in connection tions), an appropriate Federal banking agen- tion, upon each instance of such promotional with the death or divorce of the purchaser or cy, or the National Credit Union Administra- communication; other similar circumstance, in the discretion tion, that— ‘‘(4) not less than annually, file with the of the Commission; and (I) bars the person from— Commission and provide to investors reports ‘‘(2) shall be subject to such other limita- (aa) association with an entity regulated of the results of operations and financial tions as the Commission shall, by rule, es- by such commission, authority, agency, or statements of the issuer, as the Commission tablish. officer; shall, by rule, determine appropriate, subject ‘‘(f) APPLICABILITY.—Section 4(6) shall not (bb) engaging in the business of securities, to such exceptions and termination dates as apply to transactions involving the offer or insurance, or banking; or the Commission may establish, by rule; and sale of securities by any issuer that— (cc) engaging in savings association or ‘‘(5) comply with such other requirements ‘‘(1) is not organized under and subject to credit union activities; or as the Commission may, by rule, prescribe, the laws of a State or territory of the United (II) constitutes a final order based on a vio- for the protection of investors and in the States or the District of Columbia; lation of any law or regulation that pro- public interest. ‘‘(2) is subject to the requirement to file re- hibits fraudulent, manipulative, or deceptive ‘‘(c) LIABILITY FOR MATERIAL ports pursuant to section 13 or section 15(d) conduct within the 10-year period ending on MISSTATEMENTS AND OMISSIONS.— of the Securities Exchange Act of 1934; the date of the filing of the offer or sale; or ‘‘(1) ACTIONS AUTHORIZED.— ‘‘(3) is an investment company, as defined (ii) has been convicted of any felony or ‘‘(A) IN GENERAL.—Subject to paragraph in section 3 of the Investment Company Act misdemeanor in connection with the pur- (2), a person who purchases a security in a of 1940, or is excluded from the definition of chase or sale of any security or involving the transaction exempted by the provisions of investment company by section 3(b) or sec- making of any false filing with the Commis- section 4(6) may bring an action against an tion 3(c) of that Act; or sion. issuer described in paragraph (2), either at ‘‘(4) the Commission, by rule or regulation, SEC. 303. EXCLUSION OF CROWDFUNDING INVES- law or in equity in any court of competent determines appropriate. TORS FROM SHAREHOLDER CAP. jurisdiction, to recover the consideration ‘‘(g) RULE OF CONSTRUCTION.—Nothing in (a) EXEMPTION.—Section 12(g) of the Secu- paid for such security with interest thereon, this section or section 4(6) shall be construed rities Exchange Act of 1934 (15 U.S.C. 78l(g)) less the amount of any income received as preventing an issuer from raising capital is amended by adding at the end the fol- thereon, upon the tender of such security, or through methods not described under section lowing: for damages if such person no longer owns 4(6). ‘‘(6) EXCLUSION FOR PERSONS HOLDING CER- ‘‘(h) CERTAIN CALCULATIONS.— the security. TAIN SECURITIES.—The Commission shall, by ‘‘(1) DOLLAR AMOUNTS.—Dollar amounts in ‘‘(B) LIABILITY.—An action brought under rule, exempt, conditionally or uncondition- section 4(6) and subsection (b) of this section this paragraph shall be subject to the provi- ally, securities acquired pursuant to an of- shall be adjusted by the Commission not less sions of section 12(b) and section 13, as if the fering made under section 4(6) of the Securi- frequently than once every 5 years, by notice liability were created under section 12(a)(2). ties Act of 1933 from the provisions of this published in the Federal Register to reflect ‘‘(2) APPLICABILITY.—An issuer shall be lia- subsection.’’. any change in the Consumer Price Index for ble in an action under paragraph (1), if the (b) RULEMAKING.—The Commission shall issuer— All Urban Consumers published by the Bu- issue a rule to carry out section 12(g)(6) of ‘‘(A) by the use of any means or instru- reau of Labor Statistics. the Securities Exchange Act of 1934 (15 ments of transportation or communication ‘‘(2) INCOME AND NET WORTH.—The income U.S.C. 78c), as added by this section, not in interstate commerce or of the mails, by and net worth of a natural person under sec- later than 270 days after the date of enact- any means of any written or oral commu- tion 4(6)(B) shall be calculated in accordance ment of this Act. nication, in the offering or sale of a security with any rules of the Commission under this SEC. 304. FUNDING PORTAL REGULATION. in a transaction exempted by the provisions title regarding the calculation of the income (a) EXEMPTION.— of section 4(6), makes an untrue statement of and net worth, respectively, of an accredited (1) IN GENERAL.—Section 3 of the Securities a material fact or omits to state a material investor.’’. Exchange Act of 1934 (15 U.S.C. 78c) is fact required to be stated or necessary in (c) RULEMAKING.—Not later than 271 days amended by adding at the end the following: order to make the statements, in the light of after the date of enactment of this Act, the ‘‘(h) LIMITED EXEMPTION FOR FUNDING POR- the circumstances under which they were Securities and Exchange Commission (in this TALS.— made, not misleading, provided that the pur- title referred to as the ‘‘Commission’’) shall ‘‘(1) IN GENERAL.—The Commission shall, chaser did not know of such untruth or omis- issue such rules as the Commission deter- by rule, exempt, conditionally or uncondi- sion; and mines may be necessary or appropriate for tionally, a registered funding portal from the ‘‘(B) does not sustain the burden of proof the protection of investors to carry out sec- requirement to register as a broker or dealer that such issuer did not know, and in the ex- tions 4(6) and section 4A of the Securities under section 15(a)(1), provided that such ercise of reasonable care could not have Act of 1933, as added by this title. In carrying funding portal— known, of such untruth or omission. out this section, the Commission shall con- ‘‘(A) remains subject to the examination, ‘‘(3) DEFINITION.—As used in this sub- sult with any securities commission (or any enforcement, and other rulemaking author- section, the term ‘issuer’ includes any person agency or office performing like functions) ity of the Commission; who is a director or partner of the issuer, and of the States, any territory of the United ‘‘(B) is a member of a national securities the principal executive officer or officers, States, and the District of Columbia, which association registered under section 15A; and principal financial officer, and controller or seeks to consult with the Commission, and ‘‘(C) is subject to such other requirements principal accounting officer of the issuer with any applicable national securities asso- under this title as the Commission deter- (and any person occupying a similar status ciation. (d) DISQUALIFICATION.— mines appropriate under such rule. or performing a similar function) that offers (1) IN GENERAL.—Not later than 270 days ‘‘(2) NATIONAL SECURITIES ASSOCIATION MEM- or sells a security in a transaction exempted after the date of enactment of this Act, the BERSHIP.—For purposes of sections 15(b)(8) by the provisions of section 4(6), and any per- Commission shall, by rule, establish dis- and 15A, the term ‘broker or dealer’ includes son who offers or sells the security in such qualification provisions under which— a funding portal and the term ‘registered offering. (A) an issuer shall not be eligible to offer ‘‘(d) INFORMATION AVAILABLE TO STATES.— broker or dealer’ includes a registered fund- The Commission shall make, or shall cause securities pursuant to section 4(6) of the Se- ing portal, except to the extent that the to be made by the relevant broker or funding curities Act of 1933, as added by this title; Commission, by rule, determines otherwise, portal, the information described in sub- and provided that a national securities associa- section (b) and such other information as the (B) a broker or funding portal shall not be tion shall only examine for and enforce Commission, by rule, determines appro- eligible to effect or participate in trans- against a registered funding portal rules of priate, available to the securities commis- actions pursuant to that section 4(6). such national securities association written sion (or any agency or office performing like (2) INCLUSIONS.—Disqualification provi- specifically for registered funding portals.’’. functions) of each State and territory of the sions required by this subsection shall— (2) RULEMAKING.—The Commission shall United States and the District of Columbia. (A) be substantially similar to the provi- issue a rule to carry out section 3(h) of the ‘‘(e) RESTRICTIONS ON SALES.—Securities sions of section 230.262 of title 17, Code of Securities Exchange Act of 1934 (15 U.S.C. issued pursuant to a transaction described in Federal Regulations (or any successor there- 78c), as added by this subsection, not later section 4(6)— to); and than 270 days after the date of enactment of ‘‘(1) may not be transferred by the pur- (B) disqualify any offering or sale of secu- this Act. chaser of such securities during the 1-year rities by a person that— (b) DEFINITION.—Section 3(a) of the Securi- period beginning on the date of purchase, un- (i) is subject to a final order of a State se- ties Exchange Act of 1934 (15 U.S.C. 78c(a)) is less such securities are transferred— curities commission (or an agency or officer amended by adding at the end the following:

VerDate Mar 15 2010 02:17 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00053 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.038 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1870 CONGRESSIONAL RECORD — SENATE March 20, 2012 ‘‘(80) FUNDING PORTAL.—The term ‘funding (A) by redesignating paragraphs (2) and (3) Mr. BROWN of Massachusetts) and in- portal’ means any person acting as an inter- as paragraphs (3) and (4), respectively; and tended to be proposed to the bill H.R. mediary in a transaction involving the offer (B) by inserting after paragraph (1) the fol- 3606, to increase American job creation or sale of securities for the account of oth- lowing: and economic growth by improving ac- ers, solely pursuant to section 4(6) of the Se- ‘‘(2) FUNDING PORTALS.— curities Act of 1933 (15 U.S.C. 77d(6)), that ‘‘(A) LIMITATION ON STATE LAWS.—Except as cess to the public capital markets for does not— provided in subparagraph (B), no State or po- emerging growth companies; which was ‘‘(A) offer investment advice or rec- litical subdivision thereof may enforce any ordered to lie on the table; as follows: ommendations; law, rule, regulation, or other administrative On page 20, line 1, strike ‘‘270’’ and insert ‘‘(B) solicit purchases, sales, or offers to action against a registered funding portal ‘‘271’’. buy the securities offered or displayed on its with respect to its business as such. website or portal; ‘‘(B) EXAMINATION AND ENFORCEMENT AU- SA 1931. Mr. REED submitted an ‘‘(C) compensate employees, agents, or THORITY.—Subparagraph (A) does not apply amendment intended to be proposed by other persons for such solicitation or based with respect to the examination and enforce- him to the bill H.R. 3606, to increase on the sale of securities displayed or ref- ment of any law, rule, regulation, or admin- American job creation and economic erenced on its website or portal; istrative action of a State or political sub- ‘‘(D) hold, manage, possess, or otherwise division thereof in which the principal place growth by improving access to the pub- handle investor funds or securities; or of business of a registered funding portal is lic capital markets for emerging ‘‘(E) engage in such other activities as the located, provided that such law, rule, regula- growth companies; which was ordered Commission, by rule, determines appro- tion, or administrative action is not in addi- to lie on the table; as follows: priate.’’. tion to or different from the requirements At the end, add the following: ‘‘The Com- SEC. 305. RELATIONSHIP WITH STATE LAW. for registered funding portals established by mission shall revise the definition of the (a) IN GENERAL.—Section 18(b)(4) of the Se- the Commission. term ‘held of record’ pursuant to section curities Act of 1933 (15 U.S.C. 77r(b)(4)) is ‘‘(C) DEFINITION.—For purposes of this 12(g)(5) of the Securities Exchange Act of amended— paragraph, the term ‘State’ includes the Dis- 1934 (15. U.S.C. 781(g)(5)) to include beneficial (1) by redesignating subparagraphs (C) and trict of Columbia and the territories of the owners of such class of securities.’’. (D) as subparagraphs (D) and (E), respec- United States.’’. tively; and (2) STATE FRAUD AUTHORITY.—Section SA 1932. Mr. REED submitted an (2) by inserting after subparagraph (B) the 18(c)(1) of the Securities Act of 1933 (15 U.S.C. amendment intended to be proposed by following: 77r(c)(1)) is amended by striking ‘‘or dealer’’ him to the bill H.R. 3606, to increase and inserting ‘‘, dealer, or funding portal’’. ‘‘(C) section 4(6);’’. American job creation and economic (b) CLARIFICATION OF THE PRESERVATION OF Mr. MERKLEY submitted an growth by improving access to the pub- STATE ENFORCEMENT AUTHORITY.— SA 1929. (1) IN GENERAL.—The amendments made by amendment intended to be proposed to lic capital markets for emerging subsection (a) relate solely to State registra- amendment SA 1848 submitted by Mr. growth companies; which was ordered tion, documentation, and offering require- LAUTENBERG and intended to be pro- to lie on the table; as follows: ments, as described under section 18(a) of Se- posed to the bill H.R. 3606, to increase On page 37, line 21, strike ‘‘may’’ and insert curities Act of 1933 (15 U.S.C. 77r(a)), and American job creation and economic ‘‘shall’’. shall have no impact or limitation on other growth by improving access to the pub- State authority to take enforcement action lic capital markets for emerging SA 1933. Mr. REED submitted an with regard to an issuer, funding portal, or amendment intended to be proposed by any other person or entity using the exemp- growth companies; which was ordered to lie on the table; as follows: him to the bill H.R. 3606, to increase tion from registration provided by section American job creation and economic 4(6) of that Act. On page strike line 3 and all that follows (2) CLARIFICATION OF STATE JURISDICTION through page 3, line 2 and insert the fol- growth by improving access to the pub- OVER UNLAWFUL CONDUCT OF FUNDING PORTALS lowing: lic capital markets for emerging AND ISSUERS.—Section 18(c)(1) of the Securi- SEC. 304. OCCURRENCE OF FRAUD. growth companies; which was ordered ties Act of 1933 (15 U.S.C. 77r(c)(1)) is amend- (a) REPORT ON OCCURRENCE OF FRAUD.— to lie on the table; as follows: ed by striking ‘‘with respect to fraud or de- (1) IN GENERAL.—The Commission shall, On page 39, line 5, strike ‘‘may’’ and insert ceit, or unlawful conduct by a broker or once every 2 years, beginning on the date of ‘‘shall’’. dealer, in connection with securities or secu- enactment of this Act, submit a report to rities transactions.’’ and inserting the fol- Congress which includes an affirmative find- SA 1934. Mr. PAUL submitted an lowing: ‘‘, in connection with securities or ing that the amount of fraud related to amendment intended to be proposed to issuances made pursuant to section 4(6) of securities transactions amendment SA 1836 proposed by Mr. ‘‘(A) with respect to— the Securities Act of 1933, as amended by ‘‘(i) fraud or deceit; or this title, was not excessive during the re- REID (for Ms. CANTWELL (for herself, ‘‘(ii) unlawful conduct by a broker or deal- porting period. Mr. JOHNSON of South Dakota, Mr. er; and (2) FINDING OF EXCESSIVE FRAUD.—If the GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. ‘‘(B) in connection to a transaction de- Commission finds that the amount of fraud SCHUMER, Mr. BROWN of Ohio, Mrs. scribed under section 4(6), with respect to— related to issuances made pursuant to sec- HAGAN, Mr. COONS, Mr. AKAKA, Mrs. tion 4(6) of the Securities Act of 1933, as ‘‘(i) fraud or deceit; or MURRAY, Ms. LANDRIEU, Mr. KERRY, ‘‘(ii) unlawful conduct by a broker, dealer, amended by this title, was excessive during and Mr. KIRK)) to the bill H.R. 3606, to the reporting period, the Commission shall— funding portal, or issuer.’’. increase American job creation and (c) NOTICE FILINGS PERMITTED.—Section (A) report such finding to the Congress, to- 18(c)(2) of the Securities Act of 1933 (15 U.S.C. gether with the reports required by this sec- economic growth by improving access 77r(c)(2)) is amended by adding at the end the tion; and to the public capital markets for following: (B) initiate a rulemaking pursuant to sub- emerging growth companies; which was ‘‘(F) FEES NOT PERMITTED ON CROWDFUNDED section (b). ordered to lie on the table; as follows: (b) RULEMAKING.— SECURITIES.—Notwithstanding subparagraphs At the appropriate place, insert the fol- (1) IN GENERAL.—If the Commission makes (A), (B), and (C), no filing or fee may be re- lowing: quired with respect to any security that is a a finding of excessive fraud, as described in SEC. lll. PROHIBITION ON FINANCING BY THE covered security pursuant to subsection subsection (a)(2), the Commission shall amend its rules issued, amended, or enforced EXPORT-IMPORT BANK OF THE (b)(4)(B), or will be such a covered security UNITED STATES FOR ENTITIES THAT upon completion of the transaction, except under this title, as necessary to reduce the ARE CONTROLLED BY FOREIGN GOV- for the securities commission (or any agency incidence of fraud related to crowdfunding ERNMENTS. or office performing like functions) of the exemptions provided under this title. Notwithstanding any provision of the Ex- State of the principal place of business of the (2) TIMING.—Amended rules shall be issued port-Import Bank Act of 1945 (12 U.S.C. 635 et issuer, or any State in which purchasers of 50 under paragraph (1) as interim final rules not seq.), the Export-Import Bank of the United percent or greater of the aggregate amount later than 30 days after a finding by the States may not provide any financing (in- of the issue are residents, provided that for Commission of excessive fraud, with public cluding any guarantee, insurance, extension purposes of this subparagraph, the term comments accepted for 31 days after the date of credit, or participation in the extension of ‘State’ includes the District of Columbia and of publication of the interim final rules. credit) to an entity— the territories of the United States.’’. (1) in which a foreign government holds in- (d) FUNDING PORTALS.— SA 1930. Mr. MERKLEY submitted an terests representing at least 50 percent of the (1) STATE EXEMPTIONS AND OVERSIGHT.— amendment intended to be proposed to capital structure of the entity or otherwise Section 15(i) of the Securities Exchange Act amendment SA 1884 submitted by Mr. holds a controlling interest in the capital of 1934 (15 U.S.C. 78o(i)) is amended— MERKLEY (for himself, Mr. BENNET, and structure of the entity; or

VerDate Mar 15 2010 02:17 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00054 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.038 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE March 20, 2012 CONGRESSIONAL RECORD — SENATE S1871 (2) that is otherwise controlled in effect by day of any fiscal year of the issuer on which posed by Mr. REID to the bill S. 2038, to a foreign government. the issuer has total assets exceeding prohibit Members of Congress and em- $10,000,000 and a class of equity securities ployees of Congress from using non- SA 1935. Mr. CHAMBLISS submitted (other than an exempted security) held of record by 750 or more persons (or, in the case public information derived from their an amendment intended to be proposed official positions for personal benefit, to amendment SA 1836 proposed by Mr. of an issuer that is a bank or a bank holding company, as such term is defined in section and for other purposes; as follows: REID (for Ms. CANTWELL (for herself, 2 of the Bank Holding Company Act of 1956 In the amendment, strike ‘‘5 days’’ and in- Mr. JOHNSON of South Dakota, Mr. (12 U.S.C. 1841), by 2,000 or more persons), sert ‘‘4 days’’. GRAHAM, Mr. SHELBY, Mr. WARNER, Mr. register such’’. SCHUMER, Mr. BROWN of Ohio, Mrs. SA 1942. Mr. REID proposed an HAGAN, Mr. COONS, Mr. AKAKA, Mrs. SA 1938. Ms. AYOTTE submitted an amendment to the bill S. 2038, to pro- MURRAY, Ms. LANDRIEU, Mr. KERRY, amendment intended to be proposed by hibit Members of Congress and employ- and Mr. KIRK)) to the bill H.R. 3606, to him to the bill H.R. 3606, to increase ees of Congress from using nonpublic increase American job creation and American job creation and economic information derived from their official economic growth by improving access growth by improving access to the pub- positions for personal benefit, and for lic capital markets for emerging to the public capital markets for other purposes; as follows: growth companies; which was ordered emerging growth companies; which was At the end, add the following new section: ordered to lie on the table; as follows: to lie on the table; as follows: SEC. ll. At the end of the amendment, add the fol- At the appropriate place, insert the fol- lowing: This Act shall become effective 3 days lowing: after enactment. SEC. ll. FIDUCIARY EXCLUSION. SEC. 817. NEGOTIATIONS TO SUBSTANTIALLY RE- DUCE SUBSIDIES FOR AIRCRAFT FI- Section 3(21)(A) of the Employee Retire- ment Income and Security Act of 1974 (29 SA 1943. Mr. REID proposed an NANCING. amendment to amendment SA 1942 pro- (a) IN GENERAL.—The President shall ini- U.S.C. 1002(21)(A)) is amended by inserting tiate and pursue negotiations with all coun- ‘‘and except to the extent a person is pro- posed by Mr. REID to the bill S. 2038, to tries that finance large air carrier aircraft viding an appraisal or fairness opinion with prohibit Members of Congress and em- with funds from a state-sponsored entity, to respect to qualifying employer securities (as ployees of Congress from using non- substantially reduce export credit financing defined in section 407(d)(5)) included in an public information derived from their for the aircraft, with the ultimate goal of employee stock ownership plan (as defined in official positions for personal benefit, section 407(d)(6)),’’ after ‘‘subparagraph (B),’’. eliminating financing for the aircraft by and for other purposes; as follows: state-sponsored entities. Not later than 180 Mr. DEMINT submitted an In the amendment, strike ‘‘3 days’’ and in- days after the date of the enactment of this SA 1939. sert ‘‘2 days’’. Act, and annually thereafter, the President amendment intended to be proposed by him to the bill H.R. 3606, to increase shall submit to the Committee on Banking, Mr. REID proposed an Housing, and Urban Affairs of the Senate and American job creation and economic SA 1944. the Committee on Financial Services of the growth by improving access to the pub- amendment to amendment SA 1943 pro- House of Representatives a report on the lic capital markets for emerging posed by Mr. REID to the amendment progress of the negotiations until the Presi- growth companies; which was ordered SA 1942 proposed by Mr. REID to the dent certifies in writing to the committees to lie on the table; as follows: bill S. 2038, to prohibit Members of that all countries that finance large air car- At the appropriate place, insert the fol- Congress and employees of Congress rier aircraft with funds from a state-spon- lowing: from using nonpublic information de- sored entity have agreed to end the financing rived from their official positions for with funds from such an entity. SECTION ll. NATIONAL RIGHT TO WORK. (a) AMENDMENTS TO THE NATIONAL LABOR personal benefit, and for other pur- (b) LARGE AIR CARRIER AIRCRAFT DE- RELATIONS ACT.— FINED.—In subsection (a), the term ‘‘large air poses; as follows: carrier aircraft’’, means an aircraft designed (1) RIGHTS OF EMPLOYEES.—Section 7 of the In the amendment, strike ‘‘2 days’’ and in- to hold seats for at least 31 passengers. National Labor Relations Act (29 U.S.C. 157) sert ‘‘1 day’’. is amended by striking ‘‘except to’’ and all SA 1936. Mr. REED submitted an that follows through ‘‘authorized in section f 8(a)(3)’’. amendment intended to be proposed by (2) UNFAIR LABOR PRACTICES.—Section 8 of him to the bill H.R. 3606, to increase AUTHORITY FOR COMMITTEES TO the National Labor Relations Act (29 U.S.C. MEET American job creation and economic 158) is amended— growth by improving access to the pub- (A) in subsection (a)(3), by striking ‘‘: Pro- COMMITTEE ON ARMED SERVICES lic capital markets for emerging vided, That’’ and all that follows through Mr. MERKLEY. Mr. President, I ask growth companies; which was ordered ‘‘retaining membership’’; unanimous consent that the Com- to lie on the table; as follows: (B) in subsection (b)— mittee on Armed Services be author- (i) in paragraph (2), by striking ‘‘or to dis- At the end, add the following: ‘‘The rules ized to meet during the session of the criminate’’ and all that follows through ‘‘re- shall include the terms and conditions relat- taining membership’’; and Senate on March 20, 2012, at 9:30 a.m. ing to the forms of permissible solicitation (ii) in paragraph (5), by striking ‘‘covered The PRESIDING OFFICER. Without and advertising.’’. by an agreement authorized under sub- objection, it is so ordered. section (a)(3)’’; and COMMITTEE ON BANKING, HOUSING, AND URBAN SA 1937. Ms. LANDRIEU submitted (C) in subsection (f), by striking clause (2) AFFAIRS an amendment intended to be proposed and redesignating clauses (3) and (4) as Mr. MERKLEY. Mr. President, I ask to amendment SA 1833 proposed by Mr. clauses (2) and (3), respectively. unanimous consent that the Com- REID (for Mr. REED (for himself, Ms. (b) AMENDMENT TO THE RAILWAY LABOR mittee on Banking, Housing, and LANDRIEU, Mr. LEVIN, Mr. BROWN of ACT.—Section 2 of the Railway Labor Act (45 Urban Affairs be authorized to meet Ohio, Mr. MERKLEY, Mr. AKAKA, Mr. U.S.C. 152) is amended by striking paragraph Eleven. during the session of the Senate on WHITEHOUSE, Mr. FRANKEN, Mr. HAR- March 20, 2012, at 10 a.m. KIN, Mr. DURBIN, and Mrs. SHAHEEN)) to SA 1940. Mr. REID proposed an The PRESIDING OFFICER. Without the bill H.R. 3606, to increase American amendment to the bill S. 2038, to pro- objection, it is so ordered. job creation and economic growth by hibit Members of Congress and employ- COMMITTEE ON ENERGY AND NATURAL improving access to the public capital ees of Congress from using nonpublic markets for emerging growth compa- RESOURCES information derived from their official Mr. MERKLEY. Mr. President, I ask nies; which was ordered to lie on the positions for personal benefit, and for table; as follows: unanimous consent that the Com- other purposes; as follows: mittee on Energy and Natural Re- Strike section 602 and insert the following: At the end, add the following new section: sources be authorized to meet during SEC. 602. THRESHOLD FOR REGISTRATION. SEC. ll. the session of the Senate on March 20, Section 12(g)(1) of the Securities Exchange This Act shall become effective 5 days Act of 1934 (15 U.S.C. 78l(g)(1)) is amended by after enactment. 2012, at 10 a.m., in room 366 of the Dirk- striking ‘‘shall—’’ and all that follows sen Senate Office Building. through ‘‘register such’’ and inserting SA 1941. Mr. REID proposed an The PRESIDING OFFICER. Without ‘‘shall, not later than 120 days after the last amendment to amendment SA 1940 pro- objection, it is so ordered.

VerDate Mar 15 2010 03:08 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00055 Fmt 4624 Sfmt 0634 E:\CR\FM\A20MR6.037 S20MRPT1 jbell on DSK7SPTVN1PROD with SENATE S1872 CONGRESSIONAL RECORD — SENATE March 20, 2012 COMMITTEE ON FOREIGN RELATIONS ment and Public Works be authorized PRIVILEGES OF THE FLOOR Mr. MERKLEY. Mr. President, I ask to meet during the session of the Sen- Mr. HARKIN. Mr. President, I ask unanimous consent that the Com- ate on March 20, 2012, at 10 a.m. in unanimous consent that Jenna mittee on Foreign Relations be author- Dirksen 406 to conduct a hearing enti- Nizamoff and Madeline Shepherd be ized to meet during the session of the tled, ‘‘Oversight, Review of the Envi- granted the privilege of the floor dur- Senate on March 20, 2012, at 2:45 p.m. ronmental Protection Agency’s Mer- ing the duration of today’s session. The PRESIDING OFFICER. Without cury and Air Toxics Standards (MATS) The PRESIDING OFFICER. Without objection, it is so ordered. for Power Plants.’’ objection, it is so ordered. SELECT COMMITTEE ON INTELLIGENCE The PRESIDING OFFICER. Without Mr. MERKLEY. Mr. President, I ask objection, it is so ordered. f unanimous consent that the Select SUBCOMMITTEE ON EMERGING THREATS AND Committee on Intelligence be author- CAPABILITIES ORDERS FOR WEDNESDAY, MARCH ized to meet during the session of the Mr. MERKLEY. Mr. President, I ask 21, 2012 Senate on March 20, 2012, at 2:30 p.m. unanimous consent that the Sub- Mr. REID. Mr. President, I ask unan- The PRESIDING OFFICER. Without committee on Emerging Threats and imous consent that when the Senate objection, it is so ordered. Capabilities of the Committee on completes its business today, it ad- SUBCOMMITTEE ON ADMINISTRATIVE OVERSIGHT Armed Services be authorized to meet journ until tomorrow, March 21 at 9:30 AND THE COURTS during the session of the Senate on a.m.; that following the prayer and Mr. MERKLEY. Mr. President, I ask March 20, 2012, at 3 p.m. pledge, the Journal of proceedings be unanimous consent that the Com- The PRESIDING OFFICER. Without approved to date, the morning hour be mittee on the Judiciary, Sub- objection, it is so ordered. deemed expired, and the time for the committee on Administrative Over- SUBCOMMITTEE ON FISCAL RESPONSIBILITY AND two leaders be reserved for their use sight and the Courts, be authorized to ECONOMIC GROWTH later in the day; that following any meet during the session of the Senate, Mr. MERKLEY. Mr. President, I ask leader remarks, the Senate be in a pe- on March 20, 2012, at 10 a.m., in room unanimous consent that the Sub- riod of morning business for an hour; SD–226 of the Dirksen Senate Office committee on Fiscal Responsibility that during that period of time, Sen- Building, to conduct a hearing entitled and Economic Growth of the Com- ators be allowed to speak for up to 10 ‘‘The Looming Student Debt Crisis: mittee on Finance be authorized to minutes each, with the time equally di- Providing Fairness for Struggling Stu- meet during the session of the Senate vided and controlled between the two dents.’’ on March 20, 2012, at 10 a.m., in room leaders or their designees, with the Re- The PRESIDING OFFICER. Without 215 of the Dirksen Senate Office Build- publicans controlling the final half, the objection, it is so ordered. ing, to conduct a hearing entitled ‘‘Tax majority the first half; that following SUBCOMMITTEE ON AVIATION OPERATIONS, Fraud by Identity Theft, Part 2: Sta- morning business, the Senate resume SAFETY, AND SECURITY tus, Progress, and Potential Solu- consideration of H.R. 3606; finally, that Mr. MERKLEY. Mr. President, I ask tions.’’ the time from 2:30 p.m. until 3 p.m. be unanimous consent that the Sub- The PRESIDING OFFICER. Without as in morning business to acknowledge committee on Aviation Operations, objection, it is so ordered. the milestone reached by Senator BAR- Safety, and Security of the Committee SUBCOMMITTEE ON OVERSIGHT OF GOVERNMENT BARA MIKULSKI of Maryland as the on Commerce, Science, and Transpor- MANAGEMENT, THE FEDERAL WORKFORCE, longest serving woman in Congress in tation be authorized to meet during AND THE DISTRICT OF COLUMBIA the history of our country. the session of the Senate on March 20, Mr. MERKLEY. Mr. President, I ask The PRESIDING OFFICER. Without 2012, at 2:45 p.m. in room 253 of the Rus- unanimous consent that the Com- objection, it is so ordered. sell Senate Office Building. mittee on Homeland Security and Gov- The Committee will hold a hearing ernmental Affairs’ Subcommittee on f entitled, ‘‘Commercial Airline Safety Oversight of Government Management, Oversight.’’ the Federal Workforce, and the Dis- ADJOURNMENT UNTIL 9:30 A.M. The PRESIDING OFFICER. Without trict of Columbia be authorized to TOMORROW objection, it is so ordered. meet during the session of the Senate Mr. REID. Mr. President, if there is SUBCOMMITTEE ON CLEAN AIR AND NUCLEAR on March 20, 2012, at 2:30 p.m. to con- no further business to come before the SAFETY duct a hearing entitled, ‘‘A Review of Senate, I ask unanimous consent that Mr. MERKLEY. Mr. President, I ask the Office of Special Counsel and the it adjourn under the previous order. unanimous consent that the Sub- Merit Systems Protection Board.’’ There being no objection, the Senate, committee on Clean Air and Nuclear The PRESIDING OFFICER. Without at 5:21 p.m., adjourned until Wednes- Safety of the Committee on Environ- objection, it is so ordered. day, March 21, 2012, at 9:30 a.m.

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HONORING THE CAREER OF LOIS HONORING THE SERVICE AND CON- COMMENDING THE 2012 SUBURBAN ROCKHILL TRIBUTIONS OF MR. GEORGE CHAMBER OF COMMERCE SERV- RAZ AUTRY JR. ICE AWARD HON. MIKE PENCE HON. LARRY KISSELL HON. LEONARD LANCE OF INDIANA OF NORTH CAROLINA OF NEW JERSEY IN THE HOUSE OF REPRESENTATIVES IN THE HOUSE OF REPRESENTATIVES IN THE HOUSE OF REPRESENTATIVES Tuesday, March 20, 2012 Tuesday, March 20, 2012 Tuesday, March 20, 2012 Mr. KISSELL. Mr. Speaker, I rise today to Mr. LANCE. Mr. Speaker, I rise today to Mr. PENCE. Mr. Speaker, I rise to celebrate honor Mr. George Raz Autry, Jr., a proud vet- congratulate the honorees of the 2012 Subur- the long and distinguished career of a true eran, a defender of education and a dedi- ban Chamber of Commerce Service Awards. community leader in east central Indiana. After cated, lifelong contributor to the great State of The Chamber is an accomplished partnership more than two decades in service to those North Carolina. of business and professional people working within our community who need a helping Enlisting in the Marine Corps out of High together to build a healthy economy and im- hand, Lois Rockhill will be retiring as the exec- School, Mr. Autry honorably served our coun- prove the quality of life in our communities. utive director of the Second Harvest Food try in World War II. Upon his return, he at- The Chamber, which represents the commu- Bank of East Central Indiana. tended East Carolina Teachers College where nities of Summit, New Providence and Berke- he served as Student Body President. Raz ley Heights, New Jersey, brings people to- Before coming to Indiana, Lois had already married his wife Ireni Toumaras Autry in 1951. gether who live or work in the area and who distinguished herself while serving in Turkey Mr. Autry then moved to my home county of want to better their community. I congratulate as a member of the Peace Corps. When she Montgomery County, North Carolina, and the 2012 honorees for ‘‘Tying the Commu- came to Second Harvest in 1989, the organi- helped open East Montgomery High School, nities Together.’’ zation had distributed 450,000 pounds of food my alma mater. Mr. Autry found further oppor- President’s Award—The Honorable Jordan to those in need. Under her leadership, that tunity in Hoke County in 1967, where he be- Glatt, Former Mayor of Summit, New Jersey. amount has grown to more than 9.5 million came Hoke High School Principal and later Beautification Award—McGrath’s Hardware, pounds of food this past year, which exceeded School Superintendent. He continues his life New Providence, NJ. their goal for 2011. of service today in Hoke County as a peach Business of the Year—Investors Bank. The Second Harvest Food Bank of East farmer, author, columnist, speaker, auctioneer Public Service Award—The Honorable Jon Central Indiana is now the region’s largest and respected community leader. Bramnick, Minority Leader in the New Jersey charity dedicated to alleviating hunger. Each An ambassador for education in North Caro- State Assembly. year, the organization provides food assist- lina for more than 45 years, Mr. Autry has Public Service Organization—The Summit ance to more than 69,000 low-income Hoo- served in a multitude of prominent and impor- Area YMCA. siers facing hunger. That includes nearly tant roles in support of youth, farmers and our Silver Service Award—Karen Olson, Family 31,000 children and more than 5,000 senior community as a whole. Mr. Autry’s impact on Promise. citizens. North Carolina will last for generations. His I thank these public servants and organiza- The leadership Lois has shown over the last selfless service has inspired countless others, tions for their tremendous public service. 23 years will be sorely missed, but I am con- including myself. Mr. Autry has led through f both example and instruction, and continues to fident that the proud legacy she built at Sec- CELEBRATING THE DISTIN- serve as inspiration to all of us who know him. ond Harvest will continue. And though her re- GUISHED CAREER OF CURTIS I was honored to nominate Mr. Autry for The tirement plans include spending more time MEEDER with her grandchildren and traveling with her Order of the Long Leaf Pine, the highest order beloved husband Erv, Lois will always be a that can be bestowed in our State of North voice for those in our community who are less Carolina. Raz received that recognition re- HON. MARK S. CRITZ fortunate. cently, and he is certainly deserving of such a OF PENNSYLVANIA distinction. IN THE HOUSE OF REPRESENTATIVES Mr. Speaker, Lois Rockhill dedicated her ca- I ask my colleagues to join me in honoring Tuesday, March 20, 2012 reer to serving the most vulnerable of our fel- the life and work of my friend, a mentor, and low citizens. Her career at Second Harvest my former High School principal, Mr. Raz Mr. CRITZ. Mr. Speaker, I rise to congratu- and tireless advocacy for those in need will Autry. Let us thank him for his life of continued late a skilled engineer, devoted public servant long be remembered as a blessing to Eastern service to the future of our Nation. and faithful patriot, on a distinguished 33-year Indiana. career with the Army Corps of Engineers. f On March 31st, 2012, Curtis Meeder will re- f tire from the Corps to begin a new chapter in PERSONAL EXPLANATION his life. Since 1979, he has used his extensive PERSONAL EXPLANATION knowledge of economics and water resources HON. JACKIE SPEIER management to improve the navigability of our HON. ADAM KINZINGER OF CALIFORNIA Nation’s waterways, to aid in disaster relief ef- IN THE HOUSE OF REPRESENTATIVES forts and to reduce the risk of flooding in our OF ILLINOIS local communities. Tuesday, March 20, 2012 Curt began his career with the Corps in the IN THE HOUSE OF REPRESENTATIVES Ms. SPEIER. Mr. Speaker, I was unfortu- Detroit District as an economist and water re- Tuesday, March 20, 2012 nately delayed by a meeting and was unable sources planner. From there, he went on to to cast a vote on rollcall 111 on the evening work as a study coordinator and technical re- Mr. KINZINGER of Illinois. Mr. Speaker, un- of March 19, 2012. I would have voted ‘‘aye’’ viewer in the North Central Division for 5 fortunately, I was unable to cast my vote on on H.R. 3992—‘‘To allow otherwise eligible years, and then as a supervisor in the St. Paul H.R. 3992, the E–2 Nonimmigrant Visas for Israeli nationals to receive E–2 nonimmigrant District for 6 years. Israeli Nationals. Had I been able to I would visas if similarly situated United States nation- Since moving to Pennsylvania in 1988 to have cast an ‘‘aye’’ vote in favor of the legisla- als are eligible for similar nonimmigrant status work out of the Pittsburgh District, Curt has tion. in Israel.’’ taken leadership roles in a number of projects

∑ This ‘‘bullet’’ symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. Matter set in this typeface indicates words inserted or appended, rather than spoken, by a Member of the House on the floor.

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00001 Fmt 0626 Sfmt 9920 E:\CR\FM\K20MR8.001 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS E388 CONGRESSIONAL RECORD — Extensions of Remarks March 20, 2012 aimed at improving existing water navigation pleted his college education at the University building better roads, a first rate port, strong systems, including the Upper Ohio Navigation of Connecticut and soon found a passion that local schools and a growing college. Study, the Nation’s largest such study on an he would pursue for the rest of his life. During Named for its Orange groves, the modern inland river system. He has also demonstrated the McCarthy era, Al was one of those singled Orange boasts its very own Shangri-La and a clear commitment to helping communities in out for proudly sharing his thoughts and ideas. the world class Lutcher Theater as well as the need. In the wake of Hurricane Katrina, he Standing firm in his support of civil liberties renowned Stark Museum of Art. This is a com- served two deployments in New Orleans, dur- and the right of every American to freely ex- munity that doesn’t shy away from a chal- ing which he coordinated requests for Federal press themselves, Al discovered his passion lenge. Hurricanes Rita and Ike only hardened debris removal assistance with parish and for civil and workers rights—two issues to the resolve of this Golden Triangle treasure local municipal officials, monitored contractor which he has dedicated a lifetime of advocacy. and I expect more great things from Orange in curb-side collection from private properties, Here in New Haven, Al has made many the next 125 years as this community con- and worked with regulatory agencies to reduce contributions that have changed the face of tinues to grow, while maintaining its signature the environmental impacts of disposal oper- our community. One of those outstanding ef- small town charm mixed with world-class cul- ations. forts was his work to bring light to story of the ture. Currently, Curt serves as the Pittsburgh Dis- Amistad captives and its lessons of unity to Today, I honor all those who have made trict’s Chief of Planning and Environmental achieve freedom. The Amistad story has a this Chamber great and look forward to meet- Branch. One of his most critical responsibilities special connection to the New Haven commu- ing those who will lead it in the future. in this capacity is to be a leader in the Corps’ nity and its resurrection and celebration has f public outreach efforts. He has demonstrated become a great source of pride. It has led to a flair for concise and effective communication the erection of a statue of Sengbe Pieh at City HONORING JESSIE BENTON in his interactions with private citizens, re- Hall, the re-creation of the Amistad ship at FREMONT gional organizations and government agen- Mystic Seaport, and the formation of the Con- cies. He consistently articulates esoteric engi- necticut African American Freedom Trail. HON. JEFF DENHAM neering concepts and flood repair processes Through each of these efforts, the story of the OF CALIFORNIA in easily understandable terms. Amistad and its captives’ fight for freedom IN THE HOUSE OF REPRESENTATIVES Curt’s laudable service has earned him a teaches new generations of the fundamental Tuesday, March 20, 2012 number of well-deserved Army Civilian Service liberties on which our nation was built. It has honors. These include the Superior Civilian had an extraordinary impact on our community Mr. DENHAM. Mr. Speaker, I rise today, Service Award; two Commander’s Awards for and would not have been possible without Al’s during Women’s History Month, to acknowl- Civilian Service; and three Achievement Med- commitment to ensuring its success. edge and honor the life and legacy of Jessie als for Civilian Service. I am honored to have this opportunity to join Benton Fremont, a California resident, who Mr. Speaker, I have worked closely with all of those gathered today in wishing Alfred L. helped inspire and lead efforts to preserve and Curtis for over a decade. He’s a first-class Marder a very happy 90th birthday. At 90- protect what is now a very significant part of public servant whose experiences and exper- years young, Al continues his work on behalf Yosemite National Park. tise will surely be missed. of those whose voices are too often silenced. Jessie Benton Fremont was born May 31, I wish Curt the best of luck as he transitions Al has left an indelible mark on our community 1824, near Lexington, Virginia to United States into retirement. I share in the pride that his de- and a legacy of advocacy and compassion Senator Thomas Hart Benton and his wife, voted wife Cindy and two sons feel in his ac- that will certainly inspire generations to come. Elizabeth. Her father, a Senator from Missouri, complishments, and have the utmost con- I extend my very best wishes to him, his chil- was very influential in the development of her fidence that he will continue to be successful dren, Rebecca and Kenneth, and his grand- independent and visionary nature. While in in whatever he chooses to do next. children, Emily and Adam, for many more Washington, Mrs. Fremont met her husband, f years of health and happiness. United States Army Lieutenant John Charles Fremont. John Fremont became a great ex- f HONORING ALFRED L. MARDER AS plorer of the Western United States after he HE CELEBRATES HIS 90TH 125 REASONS TO CELEBRATE THE was assigned to lead expeditions reaching BIRTHDAY GREATER ORANGE CHAMBER OF from the Midwest to California. COMMERCE In the late 1850’s, the Fremonts and their HON. ROSA L. DeLAURO children settled in Bear Valley, near Mariposa, OF CONNECTICUT HON. KEVIN BRADY California. While living there, Mrs. Fremont fell IN THE HOUSE OF REPRESENTATIVES OF TEXAS in love with Yosemite Valley. Like all who view IN THE HOUSE OF REPRESENTATIVES the valley for the first time, she was awestruck Tuesday, March 20, 2012 by the grand rock formations, Giant Sequoia Ms. DELAURO. Mr. Speaker, it is a pleasure Tuesday, March 20, 2012 trees, waterfalls, and impressive scenery. She for me to rise today to join the many friends, Mr. BRADY of Texas. Mr. Speaker, I rise to shared her love for Yosemite Valley with those family, and community leaders who have gath- honor the Greater Orange Area Chamber of who visited her home. She took visitors on ered to celebrate the outstanding contributions Commerce. tours and hosted afternoon teas and Sunday of Alfred L. Marder as he celebrates his 90th Tonight, this vibrant Chamber will be cele- dinners at her Bear Valley and Black Point birthday. Al is one of our community’s most brating its 125th anniversary. This great advo- homes for well-known authors, editors, pho- active advocates—dedicating much of his life cate for small business began back in 1887 as tographers, and military and political leaders. to fighting for social justice and the improve- a citizens committee and then became the Some of her guests included Horace Greeley, ment of the quality of life for all. city’s Board of Trade just before the turn of Thomas Starr King, Carleton Watkins, Richard Al Marder is an institution in our community. the 20th century. Henry Dana, Jr., and United States Senator He is perhaps best known for his work to pro- The city of Orange was born the same year Edward Baker of Oregon. mote peace, social justice, worker’s rights and Texas won its Independence, but is history During these social gatherings, Mrs. Fre- equality. His commitment to these issues is goes much further back. The area first settled mont shared her concern for the need to pre- unwavering—regardless of controversy, he al- around 1600 by the Atakapas tribe is now a serve Yosemite Valley and the Giant Se- ways stands firm in his fight to protect human shining jewel in the Golden Triangle’s crown. quoias. Many of her friends and acquaint- rights. Following up on Orange’s proud heritage of ances joined her effort to lobby Congress and Over the course of his 90 years, Al has ship building for America’s military, it was this President Abraham Lincoln to protect Yosem- made innumerable contributions to our com- Chamber that saw the future of petrochemi- ite Valley and what would later become known munity and our nation. In his early years, Al cals and brought jobs to the area just as our as the Mariposa Grove of Giant Sequoias. served as Executive Director of the Con- soldiers, sailors and marines were returning Mrs. Fremont’s passionate leadership in necticut CIO Youth and Sports Organization from World War II. preserving Yosemite Valley was an instru- and was President of the New Haven Youth This Chamber has a long history of bringing mental first step in a long chain of activism Conference. He served in the United States civic leaders and business leaders together to that resulted in designating the land as a Na- Infantry during World War II and was stationed make Orange a better place to live and work. tional Park. In 1864, Mrs. Fremont and her as- in the European Theater where he received The community, led by a vibrant Chamber of sociates encouraged their friend, Israel Ward the Bronze Star. Following the war, Al com- Commerce, has taken on the tough tasks from Raymond, to send United States Senator John

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00002 Fmt 0626 Sfmt 9920 E:\CR\FM\A20MR8.002 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS March 20, 2012 CONGRESSIONAL RECORD — Extensions of Remarks E389 Conness of California photographs and a letter Even though these are just two small exam- Academy of Pharmaceutical Research and asking Congress to pass a bill to protect Yo- ples, they contribute to the overall ripple effect Science. semite Valley and the Mariposa Grove of of the profound difference this law is making Dr. Evans has received three consecutive Giant Sequoias. Their successful effort cul- in real people’s lives all over the country. In NCI MERIT Awards from the National Insti- minated on June 30, 1864, when President closing, when it comes to helping Americans tutes of Health, several national and inter- Abraham Lincoln signed an Act of Congress be more healthy, the Affordable Care Act is national awards including the Rawls Palmer that granted Yosemite Valley and the precisely what Americans needed. Let’s not do Progress in Medicine Award, the Therapeutic Mariposa Grove to the State of California. This anything to interrupt this healthy course of ac- Frontiers Lecture Award, the Volwiler Re- was the first time the national government set tion. search Award, and the APhA’s Research aside scenic lands for future generations. f Achievement Award and Tyler Prize. In addi- The Yosemite Grant gave the State of Cali- tion to his many awards, Dr. Evans is widely CONGRATULATING DR. WILLIAM fornia 36,111 acres of Yosemite Valley and published in the field of medical research dat- EVANS ON RECEIVING THE 2012 2,500 acres that contained the Mariposa ing back to 1986. Mr. Speaker, I ask the REMINGTON HONOR MEDAL Grove of Giant Sequoias. The establishment House to join me in congratulating Dr. William of this grant was significant in preserving Yo- Evans on receiving the 2012 Remington semite for activists like John Muir, who first HON. STEVE COHEN Honor Medal. visited Yosemite in 1868 and subsequently led OF TENNESSEE a 20-year campaign to establish the area out- IN THE HOUSE OF REPRESENTATIVES f side the existing park as Yosemite National Tuesday, March 20, 2012 Park. CONGRATULATING RICHARD E. Jessie Benton Fremont passed away De- Mr. COHEN. Mr. Speaker, I rise today to MOORE, FORMER PRESIDENT OF cember 27, 1902. Less than four years later, congratulate William Evans, PharmD, Director THE UNION LEAGUE CLUB, ON Yosemite National Park was established as it and CEO of St. Jude Children’s Research HIS RETIREMENT is today. One hundred and ten years after her Hospital in Memphis, Tennessee, on receiving death, Yosemite National Park remains the the Remington Honor Medal from the Amer- crown jewel of California’s Sierra Nevada ican Pharmacists Association (APhA). The HON. DANIEL LIPINSKI Mountains. Both the Park and the Mariposa Remington Honor Medal was established in OF ILLINOIS Grove are visited by upwards of 4 million tour- 1918 to recognize those who have contributed IN THE HOUSE OF REPRESENTATIVES ists per year, who come to enjoy the awe-in- long periods of distinguished service on behalf spiring vistas, waterfalls, glaciers, meadows, of American pharmacy. Dr. Evans was hon- Tuesday, March 20, 2012 rock faces, and Giant Sequoia trees. ored by APhA for his innovative research with Mr. LIPINSKI. Mr. Speaker, I rise today to Mr. Speaker, please join me in post- anticancer agents and pharmacogenomics as congratulate Richard E. Moore, following his humously honoring Jessie Benton Fremont for well as his work for the advancement of St. retirement on February 1, 2012 from Robert her unwavering leadership and activism to Jude Children’s Research Hospital. The Rem- W. Baird & Company, Inc. in Chicago, Illinois. preserve the beauty and grandeur of Yosemite ington Honor Medal is the highest honor be- A hardworking and successful financial advisor Valley for generations to come. Her legacy stowed by the American Pharmacists Associa- for the company since 1971, he has fostered serves as an example of excellence, and her tion. loyal partnerships with many colleagues and accomplishments and contributions to Yosem- Dr. Evans received his PharmD from the clients throughout his forty year career. ite National Park will never be forgotten. University of Tennessee in 1975. While at the Among his professional peers he has earned University of Tennessee, he established the f industry-wide recognition while acting as the Center for Pediatric Pharmacokinetics and MARKING 2ND ANNIVERSARY OF president of the Bond Club of Chicago and Therapeutics as a Center of Excellence. This PASSAGE OF THE AFFORDABLE chairman of the Securities Industry Associa- program provided training for new investiga- CARE ACT tion Central States District. tors and served as a structure to advance interdisciplinary laboratory-based clinical re- Born on September 8, 1943, Mr. Moore HON. RUSS CARNAHAN search that addressed questions central to grew up in the Chicago area. He earned his OF MISSOURI children’s health. Dr. Evans continues to make bachelor’s degree from Loyola University and IN THE HOUSE OF REPRESENTATIVES significant contributions to the University of honorably served his country in the United Tuesday, March 20, 2012 Tennessee as a Professor and the Endowed States Marine Corps Reserve from 1964 to 1970. His dedication to service continued with Mr. CARNAHAN. Mr. Speaker, on this two Chair at the school’s Colleges of Medicine and his extensive involvement in community orga- year ‘‘check up’’ of the Affordable Care Act, I’d Pharmacy. nizations throughout Chicagoland. In 1974, he like to share with you some real life examples Dr. Evans has an expansive career with St. joined the Union League Club of Chicago, a of how this important legislation is helping Mis- Jude Hospital. He served as Chair of the De- social club that helps sustain many of the sourians not only stay healthier personally, but partment of Pharmaceutical Sciences from city’s most important cultural organizations, improve the health of their small businesses 1986 to 2002. From 2002 to 2004, he served and has since served on several of the club’s as well. as the Scientific Director and Executive Vice Last week I took part in a workshop for President before being named the hospital’s committees. His dedication to civic responsi- small businesses, to help arm them with solid fifth Director and CEO. Under his leadership, bility earned him election as president of the information on how the Act can help their bot- St. Jude has been ranked the #1 Children’s Union League Club in June 2005. In addition tom line. Lew Prince is a co-owner of Vintage Cancer Hospital by US News and World Re- to these roles, he has advocated for children’s Vinyl, a St. Louis record store. It’s a landmark. port, #1 in The Scientist magazine’s best education and empowerment in Chicago by He’s been in business for some 30 years and places to work in academia and was listed serving as a trustee of both the Marine Math he’s always provided health insurance for his among Fortune magazine’s 100 Best Places and Science Academy and Union League employees. BUT, he said for the first time to Work. Boys & Girls Club. EVER, his health care costs went down, went Dr. William Evans is an active member of Mr. Moore married his beloved wife, Patri- DOWN to the tune of 25 percent. With the the medical community and has amassed an cia, in 1994. He plans to spend his well- money he saved, he was actually able to give impressive list of awards over the course of earned days of retirement with his wife, three out a few raises, and he’s hired a couple of his profession. He is an elected fellow of the sons, and six grandchildren. new people. American Association for the Advancement of On behalf of all the Chicagoland residents The Act has also made a difference for the Science (AAAS), the American Association of who have benefited from his dedication to phi- Wells Family. Sharon Wells and her husband Pharmaceutical Scientists, the American col- lanthropy, I am proud to congratulate Mr. Russell have dealt with inordinate expense for lege of Clinical Pharmacy (ACCP) and the In- Moore on his retirement from Robert W. Baird his medicine for Parkinson’s disease for years. stitute of Medicine of the National Academy of & Company. His commitment to improving his Thanks to the donut hole coverage provided in Sciences. He serves on the Board of Scientific community makes him a model citizen in his the Affordable Care Act, Sharon tells me they Counselors of the National Cancer Institute community. I am thankful for his extensive vol- have more money in the household budget (NCI) and has served as President of the unteer and military service contributions, and I now for groceries and gas, maybe even a ACCP, Chair of AAAS’s Pharmaceutical wish him the best in this next chapter in his movie from time to time. Sciences Section and President of APhA- life.

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00003 Fmt 0626 Sfmt 0634 E:\CR\FM\A20MR8.005 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS E390 CONGRESSIONAL RECORD — Extensions of Remarks March 20, 2012 HONORING THE CAREER OF held the rank of Lieutenant Colonel. He is a of Pennsylvania’s Wharton School of Finance. WILLIAM J. PIENTA graduate of the U.S. Army Command and In 1933, he began work for the insurance General Staff College, the Defense Logistics agency Alexander & Bolton, where he contin- HON. BRIAN HIGGINS Executive Development Program, the National ued to work into his 90s. During his tenure at OF NEW YORK Defense University National Security Program, the agency, Mr. Bolton served as chairman of IN THE HOUSE OF REPRESENTATIVES and the U.S. Army War College Defense the board and only took leave to serve his Tuesday, March 20, 2012 Strategy Studies program. country in World War II. Chief Bailey is also a Certified Law Enforce- A bona fide member of the Greatest Gen- Mr. HIGGINS. Mr. Speaker, I rise today to ment Executive—one of just 100 in the State eration, Mr. Bolton has earned the respect and honor the remarkable career of William J. of Ohio. In December of 2000, he graduated regard of everyone he’s met along the way. Pienta, the United Steelworkers District 4 Di- from the FBI National Academy, is a graduate Mr. Speaker, I ask my colleagues to join me rector. of the Northwestern University Traffic Institute today in commending Roscoe Bolton. His Bill began his forty-one year career as a School of Police Staff and Command, and is dedication and contributions to the Rotary labor leader in my Western New York Com- also a graduate of the Ohio Police Executive Club and to the citizens of Alexandria warrant munity working at the former Allegheny Leadership College. this laudable recognition. Ludlum steel mill in Dunkirk, NY as an elec- Mr. Speaker, Chief Bailey’s accomplish- f trician. He became a union activist in 1970 ments don’t stop there. Since 1986, he has IN RECOGNITION OF LANCE COR- and eventually was elected President of Local been a Reserve Police Officer for the City of PORAL JONATHAN LEE BEDWELL 2693. Middletown where he currently holds the rank Throughout Bill’s career he tirelessly rep- of Reserve Captain. He was President of the resented the working families in the public and Clermont County Chiefs of Police and Sheriff’s HON. DAVID P. ROE private sectors of organized labor. He joined Association for eight years, and has been OF TENNESSEE the USW International staff as an organizer in President of the Ohio Law Enforcement Foun- IN THE HOUSE OF REPRESENTATIVES 1990 and was appointed Director in 2004. dation as well as President of the Ohio Asso- Tuesday, March 20, 2012 As Director of USW District 4, Bill was re- ciation of Chiefs of Police. sponsible for all USW activities in New York, Mr. ROE of Tennessee. Mr. Speaker, I rise If that wasn’t enough, Chief Bailey has today to honor one of Tennessee’s heroic Ma- Delaware, New Jersey, Connecticut, Rhode Is- somehow found time to be an Adjunct Instruc- land, Massachusetts, Vermont, New Hamp- rines, 22-year-old Lance Corporal Jonathan tor in the Criminal Justice Program at the Uni- Lee Bedwell of Morristown. shire, Maine, and the island of Puerto Rico. versity of Cincinnati and for Northwestern Uni- In addition to his duties as director of USW Lance Corporal Bedwell was nearly killed in versity in the School of Business, and has District 4 Bill held elected positions in multiple an IED explosion while on patrol in Afghani- been a Visiting Instructor of Political Science labor organizations. He severed as a Vice stan, protecting a position on a mission that at Miami University. President of the Buffalo, NY Central Labor he volunteered for. After losing his leg and I could go on and on about Chief Bailey’s Council and as Secretary to the Western New sustaining multiple other injuries in the explo- awards from the Boy Scouts of America, his York Area Labor Federation. Additionally he sion, he is well on his way to a full and extensive experience with local government, represented the USW as a Vice President of healthy recovery. It is because of the heroic or the numerous and well deserved accolades the New York State AFL–CIO. He was also a actions such as this one that our brave service he has received throughout his career. director of the New York State Workforce De- members make every day that we are able to It was a privilege to call Chief Bailey a col- velopment Institute, Inc and was a member of enjoy the freedoms this great nation has to league when I was a Miami Township Trustee. the Univera Advisory Board. offer. It is an even higher honor to call him my Mr. Speaker, it is with pride that I am able I salute Lance Corporal Bedwell as he not friend. to honor Bill Pienta on an exemplary career only exemplifies the best of America, but also Mr. Speaker, I want to thank Chief Bailey for and celebrate his retirement. I thank him for the best of the United States Marine Corps. his years of service to our community. his service to our community and wish him the For this reason I ask you to join me in com- Additonally, I want to send my gratitude to his best of luck in his future endeavors. memorating the valor of this extraordinary Ma- wife of over 30 years, Sharon, to his two chil- rine. Also, I ask that a poem by Albert f dren, Caryl and Matthew, and to his grandson, Caswell, written in honor of Lance Corporal CONGRATULATING CHIEF R. STE- Logan, for the sacrifices they’ve made. Bedwell, be entered into the RECORD. VEN BAILEY ON HIS 60TH BIRTH- Chief Bailey is the epitome of a true public BECAUSE OF THESE DAY servant. His career and commitment to our Because of these . . . community is something every public official Because of all of these this night . . . HON. should strive for, and I ask my colleagues to Our nation’s future looks very bright! And as you lay your head down to sleep, all OF OHIO join me in congratulating Chief R. Steven Bai- ley on his 60th birthday. in your prayers so to keep . . . IN THE HOUSE OF REPRESENTATIVES All in this golden peace, all because of their f Tuesday, March 20, 2012 heroism that which does so speak . . . Mrs. SCHMIDT. Mr. Speaker, I rise today to COMMENDING ROSCOE BOLTON, All in your hearts of love so very deep, but remember . . . remember all of these celebrate the 60th birthday of a very dear WORLD’S LONGEST-SERVING RO- TARIAN ... friend of mine, Chief R. Steven Bailey, the Magnificent men, who all in such shades of Chief of the Miami Township Police Depart- green who carry on that fight . . . ment. HON. RODNEY ALEXANDER Southern Sons, who so defend . . . and live To call Chief Bailey a public servant would OF LOUISIANA and die, all in honor’s light! Men of honor, and such faith . . . be an understatement. His biography reads IN THE HOUSE OF REPRESENTATIVES like a to-do list for an entire police department, Whose most magnificent hearts shall never Tuesday, March 20, 2012 but let me point out a few of the many signifi- so wave! Mr. ALEXANDER. Mr. Speaker, it is with And oh what a most brilliant sight they so cant accomplishments Chief Bailey has cast! achieved throughout his career. great pride that I have the opportunity to rec- The United States Marines, Since May of 1995, R. Steven Bailey has ognize deep-rooted Alexandria businessman, One of the greatest things in our nation that been the Chief of the Miami Township Police Roscoe Bolton, who was recently named the which has come to pass! Department where under his watch, the Miami world’s longest-serving Rotarian. And your support is all they ask! Township Police Department has been ac- On March 7, Mr. Bolton celebrated his 99th So sleep well this very night, while far credited by the Commission on Accreditation birthday, and is currently serving his 77th year across our shores such fine men of for Law Enforcement Agencies an astounding as a Rotarian. To celebrate the occasion, the might . . . five times. Additionally, the Miami Township local club dubbed him the longest-serving All for us carry on that fight! Men like Jonathan, who so live and die . . . Police Department achieved CALEA’s flagship among the world’s 1.2 million members. And so give up their strong arms and legs, status in 2007 and 2010—something less than Bolton is a true product of the Alexandria and yet do not ask why! 1% of police departments do. community, having being born here as well as Men who so rest in peace this very night, In 1999, after 27 years, Chief Bailey retired attending Bolton High School and Louisiana All in such soft quiet cold graves this sad from the Ohio Army National Guard where he College before graduating from the University sight!

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00004 Fmt 0626 Sfmt 0634 E:\CR\FM\K20MR8.007 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS March 20, 2012 CONGRESSIONAL RECORD — Extensions of Remarks E391 While, all across our nation their mother’s ceiving an Official Texas Historical Marker. RECOGNIZING MRS. MIRIAM V. cry! Lee College is known as one of the fastest HENSON ON THE OCCASION OF For they have lost their greatest of all loves, HER 105TH BIRTHDAY Their most blessed of all sons for us who growing community colleges in the Nation. It have so died . . . currently ranks 6th in the Nation for degrees As some have lost their strong legs, arms awarded in science and technologies; and of- HON. JOSEPH CROWLEY and even eyes . . . fers more than 130 degrees and certificates. I OF NEW YORK While awake in the middle of the night, as am proud to honor Lee College, located in IN THE HOUSE OF REPRESENTATIVES PTSD rules their lives . . . Sleep well this night . . . Baytown, Texas, for receiving this marker. Tuesday, March 20, 2012 Upon the Bed of Freedom that they so pro- On Friday, March 23, 2012, the Texas His- Mr. CROWLEY. Mr. Speaker, I rise today to vide! torical Commission will dedicate the Historical acknowledge and honor a beloved leader in And as you lay yourself so down to sleep . . . Marker with the following text: the Co-op City community, Mrs. Miriam V. All because of our brave sons from Ten- Henson, on her 105th birthday. nessee, ones like Jonathan . . . In 1934, during the Great Depression and Mrs. Henson, affectionately called Mother Who his fine promises did so keep! after several years of planning, the residents Whose fine blood has so run red, of the Goose Creek Independent School Dis- Henson by her neighbors, is an inspiration to All for us so very deep! trict voted to establish Lee Junior College, me and to many of my constituents, so I’d like This Volunteer, from this great state . . . stressing the importance of higher education to take this opportunity to discuss her life and Jonathan whose courage so makes us weep! opportunities for area residents. One hun- achievements. As even the angel’s too so cry . . . dred seventy-seven students registered dur- Mrs. Henson was born in Bangbridge, GA in All at selfless sacrifice, 1907, but her family shortly thereafter moved All for God and Country as he did not so ask ing the fall 1934 semester, and paid less than why! $15 per semester in fees. The junior college to Harlem, NY, where she graduated from As it was on that day, out on his patrol . . . first shared facilities with Robert E. Lee Wadleigh High School. When his fine life almost went away . . . high school, and classes met at night. In 1935 She had one daughter, Virginia Henson, When, an IED . . . went off putting him so four women made up the first graduating with her late husband, Mr. Wallace Henson. close to the grave . . . class, and vocational education was inaugu- After her husband’s passing in 1969, Mrs. With his leg lost and dying, as death just rated with a non-credit class in child psy- Henson moved into Co-op City with Virginia minutes away so lying . . . chology. The school’s name was changed to and began working for Macy’s Department As when he so made a choice, listening to his Lee College in 1948, and a separate campus store. most inner voice . . . was first utilized in 1951. In 1965, the college Mrs. Henson might now live alone, but she As when Jonathan woke up on that next day separated from Goose Creek C.I.S.D. and ob- ... is never truly alone—since she is such an ac- tained its own board of regents. Telling him go forth marine, tive member of her community. For you have mountains to so climb all out Lee College instituted a college level pro- From a young age, she has been involved upon your way! gram in Huntsville at the Texas Department with philanthropic efforts such as the Young As when his new battle would begin, of Corrections in 1966, becoming a pioneer in Women’s Christian Association, YWCA, and As his fine heart would so command him to prison education. The program was designed the moment she moved into Co-op City, she win! to reduce recidivism of inmates by offering began to reach out to help her neighbors. Command him, to a recovery . . . them educational opportunities, and remains She is one of the founding members of the Step by step, day by day . . . a vital part of the college’s programming. Community Protestant Church, and also As this United States Marine how so makes The Lee College Honors Program was estab- his way . . . served as a Board Trustee, President, and lished in 1974 to serve gifted and highly moti- As this Tennessee Titan, founding member of the Community Protestant vated students by preparing them for success So teaches us all in his actions upon each Church’s Willing Workers Organization. new day . . . in education and employment opportunities. The ambitious Mother Henson is also a As he so beseeches, so deep down as he so Classes in the program are taught in a sem- founder of the Dreiser Loop Retirees and a reaches us . . . inar format, and several scholarships are member of the local AARP Chapter, serving All in what his fine heart so to convey! awarded through the program based on aca- each organization with love, compassion, and demic excellence. Lee College continues As if I ever had a son, I wish he could have understanding. And to continue serving others, the heart half as this one . . . today to offer academic as well as voca- As I watch in awe, all in what I saw . . . as tional-technical and continuing education she represents the needs of seniors in our this marine gets up and so runs! classes to the residents of Baytown and the state capital in Albany. For heaven so holds a place, surrounding area. A woman of many hobbies, Mrs. Henson is All for such men or honor and of such grace a real globe-trotter. She has visited countries ... I congratulate the past and present adminis- throughout the world including Canada, Aruba, As Thy will be done . . . tration, faculty, staff, and students of Lee Col- Switzerland, Australia, France, Germany and Sleep well this night, lege for all of their hard work and dedication Brazil, just to name a few. All in your hearts ever so hold these heroes to education. And so it is with great pleasure She especially loves cruises, and has been and their families so tight . . . on many in her lifetime. Mrs. Henson re- These fine women and men, that I recognize Lee College on receiving an Who but country tis of thee do so defend! Official Texas Historical Marker. charges her batteries at home with card United States Marines, like Jonathan who so games, and bridge is among her favorites. gallantly fight that fight! f Throughout her 105 years, Mother Henson That kind of man, has survived the stock market crash, the That Andrew Jackson would love and so un- PERSONAL EXPLANATION Great Depression, two World Wars, and the derstand, World Trade Center attacks on September 11, And hold up to such great heights! 2001. Despite these tragic events, she still has So as you lay your heads down to rest, a positive outlook on the world. Remember all of these, our very best . . . HON. LYNN C. WOOLSEY Mr. Speaker, I think we can all learn a les- and sleep well this night! OF CALIFORNIA All because of these . . . son from her. There’s no doubt that Mrs. Henson has f IN THE HOUSE OF REPRESENTATIVES seen and done a lot in her lifetime, but she HONORING LEE COLLEGE ON RE- Tuesday, March 20, 2012 says the greatest thing she’s done was having CEIVING AN OFFICIAL TEXAS the opportunity to vote for our 44th Presi- Ms. WOOLSEY. Mr. Speaker, on March 19, HISTORICAL MARKER dent—something she did not think would ever 2012, I was unavoidably detained and was un- happen in her lifetime. Not only did she expe- able to record my vote for rollcall No. 111. rience it, but now she is looking forward to HON. GENE GREEN Had I been present I would have voted: rollcall OF TEXAS voting in the next presidential election. No. 111: ‘‘yes’’—To allow otherwise eligible IN THE HOUSE OF REPRESENTATIVES Mrs. Henson, as one may imagine, is no or- Israeli nationals to receive E–2 nonimmigrant dinary woman. Her philosophy in life is to Tuesday, March 20, 2012 visas if similarly situated United States nation- keep the ‘‘pep in her step’’ with ‘‘good living, Mr. GENE GREEN of Texas. Mr. Speaker, als are eligible for similar nonimmigrant status good friends, trusting in God, and a little tonic I rise today to commend Lee College on re- in Israel. twice a day.’’ And clearly, it’s working.

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00005 Fmt 0626 Sfmt 9920 E:\CR\FM\A20MR8.007 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS E392 CONGRESSIONAL RECORD — Extensions of Remarks March 20, 2012 A woman of strong religious faith, Mrs. Guard Medal for these heroic actions, and made. We are proud to be among the many, Henson has said she would not have made it later earned two Coast Guard Achievement many friends of Ray Mahmood. On the occa- through her life’s tragedies without the Lord on Medals and Five Commandant’s Letter of sion of his birthday celebration, Congressman her side. Commendation Ribbons, along with numerous BERMAN, Congressman MORAN and I honor But made it she has, and it is my great unit and service awards. In only 36 years, Ray’s innumerable achievements in business honor to recognize her now. Lieutenant Commander Taylor accomplished and political life, and wish Ray and Shaista all And with that, I hope all my colleagues will more than most people do in a full lifetime. the best in the coming years. join me in wishing Miriam Henson a happy Lieutenant Commander Taylor is survived f 105th birthday, and continued health and hap- by his two sons, Evan D. Taylor and Emmet piness. J. Taylor; his wife, Teresa D. Taylor; and his CONGRATULATIONS TO NEW Her unwavering leadership and accomplish- parents Larry T. Taylor and Judy L. Taylor. I HAMPSHIRE EXECUTIVE COUN- ments serve as an example of excellence to offer my sincere appreciation to his loved ones CILOR RAYMOND J. WIECZOREK us all and will forever resonate in the commu- for his service in the United States Coast ON 22 YEARS OF EXEMPLARY nity. Guard and his selfless efforts in the defense SERVICE TO THE STATE OF NEW HAMPSHIRE f of our great nation. I ask that my colleagues join me in offering heartfelt condolences to OUR UNCONSCIONABLE NATIONAL Lieutenant Commander Taylor’s family. I pray HON. FRANK C. GUINTA DEBT that his life serves as a guiding force in his OF NEW HAMPSHIRE sons’ lives. Their dad gave them an example IN THE HOUSE OF REPRESENTATIVES HON. MIKE COFFMAN that is paralleled by no other. Tuesday, March 20, 2012 OF COLORADO f Mr. GUINTA. Mr. Speaker, last month, one IN THE HOUSE OF REPRESENTATIVES HONORING THE LIFE ACHIEVE- of New Hampshire’s greatest citizens and po- Tuesday, March 20, 2012 MENTS OF MR. RAY MAHMOOD litical figures announced his retirement after Mr. COFFMAN of Colorado. Mr. Speaker, ON HIS 60TH BIRTHDAY nearly twenty-two years of continuous public George W. Bush was inaugurated, the na- service to the State of New Hampshire and his tional debt was $5,727,776,738,304.64. When HON. SHELLEY BERKLEY home city of Manchester. It is my honor and Barack Obama was inaugurated, the national privilege to thank and pay tribute to my per- OF NEVADA sonal friend and predecessor, former Man- debt was $10,626,877,048,913.08. This was a IN THE HOUSE OF REPRESENTATIVES $4,899,100,310,608.44 increase in 8 years. chester Mayor and current New Hampshire Tuesday, March 20, 2012 Last week, the debt climbed to Executive Councilor Raymond J. Wieczorek. Councilor Wieczorek is among the finest ex- $15,574,238,368,104.89, which means that Ms. BERKLEY. Mr. Speaker, today I join amples of the selfless public servant who has President Obama has raised the debt more in with my distinguished colleagues, Congress- served his country, state, and city in various just over 3 years than President Bush did in man HOWARD BERMAN of California and Con- capacities for many years. Raised in rural 8 years. gressman JIM MORAN of Virginia, to honor the Connecticut in a tight knit Polish family, Ray This is debt our nation, our economy, and outstanding life achievements of Mr. Ray Wieczorek learned from an early age the im- our children could have avoided with a bal- Mahmood, as he celebrates his 60th birthday portance of honesty, generosity and hard anced budget amendment. on March 23, 2012. work. Ray applied these lessons throughout f Ray began his ‘‘American Dream’’ story when he moved from Pakistan to Alexandria, his life beginning with his service in the U.S. RECOGNIZING THE LIFE OF LCDR Virginia in the early 1970s, bringing with him Armed Services during the Korean Conflict DALE TAYLOR a belief that anything is possible in America. and later opening the Wieczorek Insurance Starting out with nothing, Ray saved $5,000 to Agency in his adopted home of Manchester, HON. G. K. BUTTERFIELD invest in a gas station in Alexandria. His hard New Hampshire. Throughout his professional career, Ray gave back to his community by OF NORTH CAROLINA work turned the business venture into a suc- volunteering for over twenty community clubs IN THE HOUSE OF REPRESENTATIVES cess, and he seized the opportunity to earn his real estate license and establish Mahmood and non-profit organizations like the United Tuesday, March 20, 2012 Investment Corporation. Ray proved to have Way and the Boys and Girls Club of Man- Mr. BUTTERFIELD. Mr. Speaker, I rise to the genius and creativity to rapidly expand his chester. However, his professional career is honor the life of LCDR Dale Taylor of the enterprises into a broad array of develop- most noted by his leadership and service as United States Coast Guard. Lieutenant Com- ments. His projects have revitalized numerous Mayor of Manchester for five consecutive mander Taylor was a native of Snow Hill, locations, creating economic activity and em- terms and six subsequent terms as an elected North Carolina, which is in my Congressional ployment through his developments in the res- Member of the New Hampshire Executive District. Lieutenant Commander Taylor was idential, hotel, and commercial sectors of the Council. one of four Coast Guardsmen that tragically real estate industry. Over the years, Ray has been recognized lost their lives when Coast Guard Helicopter We congratulate Ray on his remarkable by numerous groups for his citizenship and 6535 went down off the coast of Alabama success in business, but we believe his great- leadership by such organizations as the Man- while conducting a training exercise on Feb- est achievements are found in his tireless chester Chamber of Commerce, the Granite ruary 28, 2012. dedication to civic, political, and diplomatic State Taxpayers, the United States Small Lieutenant Commander Taylor was a source work. Ray and his wife, Shaista, have made it Business Administration and the New Hamp- of great pride in his hometown of Snow Hill. their mission to bring people together to meet shire State Republican Committee, just to He exemplified to the community what was the challenges of United States-Pakistan rela- name a few. However, far surpassing these possible with hard work and determination. tions. Ray’s passion for this important diplo- recognitions is Ray’s great love for both family Lieutenant Commander Taylor graduated from matic work and his ability to unite people of and friends. He dutifully served as loving hus- Greene Central High School and later Appa- many backgrounds, have made him an indis- band to his late wife Susan and continues to lachian State University. After receiving his pensable factor in efforts to strengthen ties be- be a loving father to his children, stepchildren bachelor’s degree he joined the United States tween America and south Asia. His unique tal- and grandchildren. Coast Guard and completed Officer Candidate ent to work with community leaders, and with f School. Shortly thereafter, he received his all levels of government make him a legend as TRIBUTE TO RICHARD wings of gold, making him a naval aviator. a problem-solver and as a citizen-statesman. MILANOVICH Lieutenant Commander Taylor epitomized As Ambassador-at-Large for Pakistan to the what it meant to serve with honor and distinc- United States, Ray is an integral part of HON. MARY BONO MACK tion. These facts were demonstrated in De- crafting effective foreign policy, and building OF CALIFORNIA cember of 2003 when Lieutenant Commander person-to-person relationships between the IN THE HOUSE OF REPRESENTATIVES Taylor jumped from a Coast Guard helicopter two countries. into the Atlantic Ocean during a violent winter Ray and Shaista have turned their home Tuesday, March 20, 2012 storm to save the final person aboard a sink- into a hub of political discussion, hospitality, Mrs. BONO MACK. Mr. Speaker, I rise ing sailboat. He was awarded the Coast and a place where countless friendships are today to pay respect to a dear friend and great

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00006 Fmt 0626 Sfmt 9920 E:\CR\FM\A20MR8.010 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS March 20, 2012 CONGRESSIONAL RECORD — Extensions of Remarks E393 leader who was taken from us far too soon, The legacy Richard leaves will not be meas- the opportunity to recognize such a great Agua Caliente Band of Cahuilla Indians Tribal ured simply by the number of hotels and casi- American and I ask that my colleagues join Chairman Richard M. Milanovich. nos the tribe operates or the political battles me in paying tribute to Dr. Jeffrey Marxen. For those who knew Richard, and for the he won on behalf of his people. Richard f countless others who did not but were touched Milanovich’s legacy will be measured by the by his impact on our community and nation, impact his indomitable spirit had on the tribe PERSONAL EXPLANATION his passing leaves an enormous void. We he led, the community in which he lived, and shall greatly miss Richard’s warmth, humor, the country he loved so deeply. HON. BARBARA LEE humility, compassion and leadership. But most The Agua Caliente believe that the strength OF CALIFORNIA of all, we will miss the man: a beloved and of their people is drawn from the sacred ori- IN THE HOUSE OF REPRESENTATIVES caring leader whose dedication to his people gins of the tribe in the mountains, canyons Tuesday, March 20, 2012 was unmatched and never wavered. and desert in which they have resided for mil- Richard Milanovich’s character, and also his lennia. Richard Milanovich’s spirit has passed Ms. LEE of California. Mr. Speaker, I was vision for a more prosperous future for his from his physical body to reside with the spir- not present for rollcall vote 111. Had I been people, were shaped by the experiences of his its of the great tribal leaders who went before present, I would have voted ‘‘yes’’ on H.R. youth and the circumstances confronting the him. When I walk in the Indian Canyons of the 3992. Agua Caliente during an era when the for- Agua Caliente people, I shall feel strongly the f tunes of the tribe he would come to lead for spirit of my dear friend in the breeze on my HONORING ROBERT JAMES ZINK over a quarter of century were far more chal- face and the rustle of the wind in the palm lenging and the future far more daunting. In fronds. his youth, he was profoundly influenced by the My deepest condolences go out to Richard’s HON. SAM GRAVES strong leadership of several remarkable family, the Agua Caliente people and the OF MISSOURI women tribal council members, especially many others who loved him. Richard will be IN THE HOUSE OF REPRESENTATIVES Chairman Viola Olinger and Vice Chairman deeply missed by us all, but he will also re- Tuesday, March 20, 2012 LaVerne Saubel, who helped the Agua main with us forever in our hearts and memo- Caliente tribe reclaim control of its destiny and ries. Mr. Speaker, I urge all my colleagues to Mr. GRAVES of Missouri. Mr. Speaker, I establish a model for future tribal land use take a moment and join me in paying tribute proudly pause to recognize Robert James agreements throughout our nation. Richard al- to the memory of a truly great American and Zink. Robert is a very special young man who ways felt a great connection to the Agua the late leader of the Agua Caliente Band of has exemplified the finest qualities of citizen- Caliente leaders who came before him, and Cahuilla Indians, Chairman Richard ship and leadership by taking an active part in the strength of his will and keen political in- Milanovich. the Boy Scouts of America, Troop 38, and sight were reflections of their determination f earning the most prestigious award of Eagle and commitment to the tribe. Scout. As tribal chairman, Richard Milanovich, TRIBUTE TO DR. JEFFREY Robert has been very active with his troop, earned the respect of not only his tribe but of MARXEN participating in many scout activities. Over the all those who witnessed his tireless work ethic, many years Robert has been involved with sharp mind and gracious nature. He was re- HON. DUNCAN HUNTER scouting, he has not only earned numerous vered throughout the nation as a tribal leader OF CALIFORNIA merit badges, but also the respect of his fam- who achieved historic accomplishments that IN THE HOUSE OF REPRESENTATIVES ily, peers, and community. Robert has also directly benefitted his people and numerous contributed to his community through his other tribes. He rose to become a legendary Tuesday, March 20, 2012 Eagle Scout project. figure within Indian Country, and yet, he never Mr. HUNTER. Mr. Speaker, it’s an absolute Mr. Speaker, I proudly ask you to join me in lost his common touch and remained deeply privilege that I rise today to pay tribute to Dr. commending Robert James Zink for his ac- grounded in the traditions and spiritual con- Jeffrey Leonard Marxen, who died at the age complishments with the Boy Scouts of Amer- nection to the ancestral lands and heritage of of 60 on Thursday, February 23, 2012. ica and for his efforts put forth in achieving the his people. Dr. Marxen was a dedicated, loving father, highest distinction of Eagle Scout. Richard loved life and lived it to the fullest. and renowned orthopedic surgeon. After grad- f Even when fighting his last great battle, he de- uating from college and completing his resi- flected concern for his condition and looked dency at Henry Ford Hospital in Detroit, Michi- RECOGNIZING THE IMPORTANCE first to the welfare of others. I recall his last gan, he moved to San Diego to begin his or- OF SEAPORTS TO THE ECONOMY visit to my office in Washington on behalf of thopedic practice. He specialized in replace- AND NATIONAL SECURITY OF his tribe, only days after he had undergone ment and reconstruction of the knee, hip and THE UNITED STATES one of the grueling treatments he endured to shoulders. keep the cancer at bay, and how the strength Anyone who knew Dr. Marxen is aware that HON. JANICE HAHN of his spirit willed the body to soldier on. I sus- he was an extremely respected and accom- OF CALIFORNIA pect that his comportment during this painful plished surgeon who took great satisfaction in IN THE HOUSE OF REPRESENTATIVES and exhausting time was a reflection of his forming lifelong relationships with his patients Tuesday, March 20, 2012 distinguished service in the U.S. Army; service over the course of his 32-year practice. He that provided him with an opportunity to travel was president of the San Diego chapter of the Ms. HAHN. Mr. Speaker, even before com- the world and experience other cultures and Western Orthopedic Association and held nu- ing to Congress last July, ports have been a political institutions, and reinforced his fierce merous leadership positions within Sharp top priority for me. I served on the Los Ange- love of country. Grossmont Hospital in La Mesa, California. les city council for ten years and represented Of course, one cannot speak of Richard Dr. Marxen was interested in community the Port of Los Angeles—that, with the Port of without mentioning his love of family and service, sports and pursuing his passion and Long Beach, are America’s ports. friends. He was dedicated to his family, his love for music. He loved playing in evening When I arrived in Congress, I wanted to wife Melissa and children Tammy, Travis, sports leagues, including softball and tennis, raise awareness of ports and their impact on Scott, Trista, Sean and Reid, and he made within the community. In addition he was an our nation’s economy. So, I started the bi-par- friends wherever he went. Equally comfortable avid fan of the Chargers, Padres and Aztec tisan PORTS Caucus to work with my col- in jeans and boots or black tie, Richard in- Basketball. Along with sports, he enjoyed play- leagues over the past couple months to edu- stantly connected with people and was a ing the coronet and the trumpet with the Acme cate my colleagues and include ports in our much in demand guest at any social gath- Rhythm and Blues band, which performed all national dialogue. This week, I took the next ering—not merely due to his stature as a lead- over venues in the San Diego area. step in that mission by introducing a resolution er in our community but also for the good My condolences go to Dr. Marxen’s wife honoring our ports. times that were sure to follow wherever he and best friend, Dr. Annette Conway Marxen; The United States is served by more than went. Witty and charming, he could disarm his children, Philip, Jeffrey Christopher and 350 commercial sea and river ports that sup- foes and captivate friends with a kind word or Marissa. port 3,200 cargo and passenger handling fa- clever remark—all delivered with that trade- Dr. Marxen was truly an inspiration to the cilities. Each day United States ports move mark twinkle in his eye. San Diego community. I am honored to have both imports and exports totaling some $3.8

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00007 Fmt 0626 Sfmt 9920 E:\CR\FM\A20MR8.015 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS E394 CONGRESSIONAL RECORD — Extensions of Remarks March 20, 2012 billion worth of goods through all 50 states. Earlier this month the B–1 bomber flew its continue to draw on expertise and experience Additionally, ports move 99.4 percent of over- 10,000th combat mission. Since 2001, the B– from across Boeing to enhance our support of seas cargo volume by weight and generate 1 has been providing intelligence, surveillance, this amazing aircraft.’’ $3.95 trillion in international trade. These num- reconnaissance, and close air support to our The B–1 bomber has advanced over the years as it is modified for current needs. The bers speak for themselves: ports are a crucial troops on the ground nearly 24 hours a day, aircraft began as a nuclear bomber and component of our national economy, and they 7 says a week. In fact, at this very moment, moved into a solely conventional role in the deserve Congress’ attention. there is a B–1 in the air over southwest Asia. 1990s. It carries the largest payload in the This resolution honors both the tremendous Able to carry a larger payload than any other Air Force’s long-range bomber fleet—during contribution ports make to our national econ- aircraft in the military, one supersonic B–1 can Operation Iraqi Freedom, it dropped 40 per- omy and the extraordinary service of Ameri- do the same job of multiple aircraft. It is truly cent of all weapons while flying only 5 per- cans employed at our nation’s ports. I urge my a workhorse in our military. cent of the sorties. colleagues to support this resolution in order Additionally, March 7th marked the 3,000th Today’s B–1 can carry a mixed load of consecutive day of deployment for the 317th weapons in each of its three bays. Its long to advance our national dialogue on ports. range allows it to base far from the conflict f Airlift Group. Since December of 2003, more and loiter unrefueled for long periods. Its than 7,000 airmen from this unit have been swept wings allow it to fly fast, slow, low or HONORING U.S. ARMY STAFF SER- put in harm’s way. The air mobility mission is high as the situation demands. With only GEANT JORDAN L. BEAR’S SERV- one of the most important missions in the four crewmembers required, missions can ICE IN AFGHANISTAN modern military. Operations that used to take rapidly be adjusted in flight to keep up with weeks or months now take days or hours. The adversaries. The radar and targeting pod can HON. REID J. RIBBLE 317th has often been labeled the ‘‘busiest C– be used for positive target identification and the aircraft can employ a variety of other OF WISCONSIN 130 unit’’ in the Air Force, and this current de- weapons, including Joint Direct Attack Mu- IN THE HOUSE OF REPRESENTATIVES ployed streak is another honored mark in the nitions (JDAMs), Laser JDAMs, Joint Air-to- long history of Dyess Airlifters. Tuesday, March 20, 2012 Surface Standoff Missiles-Extended Range, Mr. Speaker, I have come to the floor today and BLU–129 warheads. Mr. RIBBLE. Mr. Speaker, I rise today to re- to recognize and celebrate these achieve- ‘‘The B–1 fleet and crews have readily member and honor the life and sacrifice of ments, and to honor the sacrifices the men adapted to an ever-changing environment to Staff Sergeant Jordan L. Bear. A resident of and women of Dyess have made. And I am a accomplish this 10,000th combat sortie mile- Elton, Wisconsin, Staff Sergeant Bear died firm believer that when one member of the stone,’’ said Greenwell. ‘‘This aircraft has while serving our country in the Kandahar family serves this country—the whole family proven its ability to continue to evolve and Province of Afghanistan in support of Oper- serves. Deployments across the globe over be effective well into the future.’’ ation Enduring Freedom. He was assigned to And as the B–1 ’s adopted parent, Boeing the last decade have meant many missed isn’t the only one pleased with its perform- B Company, 2nd Battalion, 508th Parachute birthdays, holidays, and special moments for ance. The Air Force appears to have quietly Infantry Regiment, 82nd Airborne Division, our soldiers and their families. May we never shelved its onetime idea of beginning to pare Fort Bragg, North Carolina. Jordan Bear died take for granted the sacrifices our men and back bombers to save money, at least in the protecting the freedoms we take for granted women in uniform make every day for our near term. Its fiscal 2013 budget submission every day. His heroic sacrifice will not soon be freedom and security. this month included this unambiguous sen- forgotten. I ask that the two attached articles also be tence: ‘‘The Air Force does not plan to retire any bomber aircraft in FY 2013.’’ Mr. Speaker, Staff Sergeant Bear embodied made a part of the RECORD. That will mean ever more combat missions the best qualities of a true American soldier. [Feb. 27, 2012] He served this country with honor and exhib- for the Lancer fleet, at least for now. THE BONE NOTCHES 10,000 COMBAT MISSIONS ited profound bravery and selflessness. Staff (By Philip Ewing) DYESS’ 317TH AIRLIFT GROUP CELEBRATES Sergeant Bear was a loving son, a devoted fa- America’s favorite low-flying, long-loi- 3,000 CONTINUOUS DAYS OF DEPLOYMENT ther and now he will forever be known as an tering, wing-swinging bomber has flown its TODAY American hero. He is remembered by friends 10,000th combat mission, Boeing announced (By Brian Bethel) and family as a man with a courageous and Monday. They call Dyess Air Force Base’s 317th Air- The B–IB Lancer in question flew its sortie strong spirit who earned the unwavering re- lift Group ‘‘purple ops’’ these days, said Maj. over Afghanistan—where the Bone has had a spect of his peers. Although the loss of Staff Jason Anderson, who bears the lengthy title second career supporting troops on the Sergeant Bear left a void in the hearts of of 317th operation support squadron assistant ground—and returned to its base in, er, many, his dedication and exemplary service director of operations. ‘‘Southwest Asia,’’ Boeing announced. (The has made Northeast Wisconsin and his coun- ‘‘We called the 40th blue squadron, the 39th bases in Qatar and the UAE aren’t actually red squadron,’’ Anderson said, musing about try proud. there, and the Air Force clings to that non- the tail colors that once graced the C–130s of It is my honor to commemorate him and I fact like a vise.) urge my colleagues to join me today in hon- Here’s more of what Big B said: the base’s 39th and 40th Airlift Squadrons. oring the life of Staff Sergeant Bear for the The heavy bomber entered service with the But now the 317th, which today at the base U.S. Air Force on June 29, 1985, and has been marked 3,000 days of continuous deployment, sacrifice he made for the United States of is one. Since Dec. 20, 2003, Dyess’ 317th has America. in nearly continuous combat for the past 10 years. The milestone mission took off from a had ‘‘folks in the theater fighting the war,’’ f base in Southwest Asia and was flown in sup- Anderson said. port of operations over Afghanistan before ‘‘The tails changed,’’ Anderson said. DYESS AIR FORCE BASE ‘‘They’re now both red and blue. And the at- MILESTONES returning to base. ‘‘The B–1 brings tremendous flexibility to titudes changed. It’s one team fighting for our nation’s defense,’’ said Lt. Col. Alejandro one another.’’ HON. RANDY NEUGEBAUER Gomez, mission team lead. ‘‘In any mission, It takes a four-month on, four-month off rotation to keep up that tempo, he said, with OF TEXAS the B–1 has the ability to loiter, dash, posi- tively identify targets, show force, and both squadrons, a ‘‘maintenance package,’’ IN THE HOUSE OF REPRESENTATIVES strike targets precisely. Whatever our air- and numerous others, from tactics to intel- Tuesday, March 20, 2012 crews are asked to do, they can perform with ligence, working together to keep planes fly- this aircraft.’’ ing and missions running smoothly. Mr. NEUGEBAUER. Mr. Speaker, today I B–1 crews in Southwest Asia fly a variety In general, ‘‘a little over 200’’ people from rise to honor the work of the men and women of missions, including close air support for the 317th Airlift Group are deployed at any of Dyess Air Force Base in Abilene, Texas. troops on the ground, giving them cover and time, with more than 7,000 airmen deployed Mr. Speaker, we are a country that has alerting them to threats they cannot see. over the 3,000–day period, Anderson said. been at war for over 10 years. Whether it is On-site maintainers keep the fleet ready to ‘‘There’s always a squadron that’s out the 317th Airlift Group delivering troops and fly. there at any given time,’’ he said. supplies to the front lines, or the 7th Bomb ‘‘10,000 conventional combat missions for a Gray Bridwell, an honorary commander for relatively small fleet of 66 B–1s is a major the 317th Airlift Group, said that when the Wing putting metal on target, the missions at milestone and a testament to the men and initial deployment began, he was honorary Dyess have played indispensable roles in the women who built, sustain and modernize the commander for the 317th Maintenance war against terror. Today I would like to honor fleet, including the U.S. Air Force, Boeing Squadron and ‘‘as a civilian’’ had little un- two recent major milestones that have been and our subcontractors,’’ said Rick derstanding about ‘‘massive deployments of achieved by these exemplary airmen. Greenwell, Boeing B–1 program director. ‘‘We this nature.’’

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00008 Fmt 0626 Sfmt 0634 E:\CR\FM\A20MR8.017 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS March 20, 2012 CONGRESSIONAL RECORD — Extensions of Remarks E395 ‘‘Little did I know 3,000 days later this rou- Rossi said that the accomplishment was lationship between the patient and the healing tine would be the normal mode of oper- important not only to highlight what troops process. His compassion and generosity has ations,’’ he said. had done but also to ‘‘highlight the support also gone a long way in helping those most in Typically, deployments are a little more that we’ve received.’’ than 120 days, Anderson said, meaning that ‘‘People on the base would be lying if they need in our community. For his many invalu- there have been more than a million ‘‘airmen say they don’t get a warm spot in their heart able contributions, I am proud to rise today to days’’ of deployment since the first. when someone out in the public thanks them join the Children’s Center of Hamden and all Dyess’ C–130s have been key in providing for their service,’’ he said. of those who have gathered in extending my combat and humanitarian aid in overseas op- A seven-aircraft launch is among activities deepest thanks and appreciation to Bernie erations, most recently in Operation New scheduled today, a day of storytelling and re- Siegel as well as my very best wishes to him, Dawn since the withdrawal of combat troops membrances, Anderson said. his wife, Bobbie, and their five children and from Iraq, said Master Sgt. Matt Rossi, 39th ‘‘When you’re running so hard, a lot of the eight grandchildren for many more years of Airlift Squadron loadmaster superintendent. time you don’t remember how far you’ve ‘‘But when we’re not doing that, we answer gone,’’ he said of the need to stop and reflect. health and happiness. the nation’s call with humanitarian aid, And then? Back to work. f whether it’s in South America, Japan, Africa ‘‘We know this is not stopping,’’ Anderson or wherever it’s needed,’’ Rossi said. said of the 317th’s future. ‘‘And we know we HONORING THE DISTINGUISHED Anderson said that the airdrop and medical are ready and will be ready to answer the na- MILITARY SERVICE OF LIEUTEN- evacuation are essential pieces of what the tion’s call.’’ ANT COLONEL MICHELLE 317th’s planes are regularly called to do. GREENE ‘‘The airlift piece is probably something f you could equate to the air-land mission of HONORING DR. BERNARD SIEGEL HON. MARK S. CRITZ FedEx or UPS,’’ he said. ‘‘We are delivering FOR HIS CONTRIBUTIONS TO THE goods, but with us, we’re delivering what the OF PENNSYLVANIA COMMUNITY military needs. So it’s not only beans, bul- IN THE HOUSE OF REPRESENTATIVES lets and water but people, as well, to dif- ferent locations. And a lot of the time, we do HON. ROSA L. DeLAURO Tuesday, March 20, 2012 that in harm’s way, so that’s where we’re dif- OF CONNECTICUT Mr. CRITZ. Mr. Speaker, I rise to recognize ferent.’’ Lieutenant Colonel Michelle Greene, an ex- The airdrop portion of the C–130 mission is IN THE HOUSE OF REPRESENTATIVES ceptional Army officer and true patriot, in primarily dropping ‘‘air packages, supplies, Tuesday, March 20, 2012 sometimes even special reconnaissance honor of her upcoming retirement. For over teams’’ to forward-operating bases, such as Ms. DELAURO. Mr. Speaker, it is my privi- twenty years, Lieutenant Colonel Greene has those in the mountains of Afghanistan. lege to stand today to join the many family, worn her nation’s colors with grace and honor. The medical evacuation component is ‘‘the friends, colleagues and community members Her career-long steadfast commitment to the saving lives piece’’ of the mission, Anderson who have gathered to pay tribute to an out- defense of liberty is a testament to her inher- said. standing member of our community and my ent courage and selflessness. ‘‘You can think of us as a hospital in the good friend, Dr. Bernard Siegel, as he is hon- sky,’’ he said. Lieutenant Colonel Greene began her distin- Wounded soldiers, ‘‘even wounded Iraqis,’’ ored by the Connecticut Children’s Center of guished career in the Army at Fort Stewart in are served by that part of the mission, he Hamden. Bernie, an Oncologist who earned Georgia, where she served as the C Company said, while other humanitarian missions, national and international acclaim for his focus Ambulance Platoon leader and Battalion S–1/ such as providing aid to those affected by on the correlation between a patient’s emo- Adjutant in the 24th Forward Support Bat- flooding in Pakistan, are another vital com- tional state and the healing process, has not talion, 24th Infantry Division, and then as the ponent. only brought a powerful voice to patient em- Patient Administration Officer at Winn Army Time away from home can be tough, said Rossi, who once spent a year deployed in Af- powerment, but has also devoted much of his Community Hospital. From there, she went on ghanistan as an air adviser. time to supporting local organizations like the to work at Walter Reed Medical Center as the Being away from home for a year, and Children’s Center of Hamden. His work has A Company Commander of the Medical Cen- working with individuals of an at-times pro- touched countless lives around the world and ter Brigade, before going to work within the foundly different culture, proved challenging I am honored to have this opportunity to join North Atlantic Regional Medical Command, but rewarding, he said. our community in recognizing his remarkable first in the Office of Clinical Operations, and ‘‘You’re not only building an air force but career and invaluable contributions. a good relationship between the Americans then as Secretary to the General Staff. and the Afghans, and not just the soldiers Bernie has dedicated a lifetime to teaching After earning a Master’s of Science in but the civilians,’’ he said. those facing the most difficult of life’s chal- Health Evaluation Sciences from the Univer- When squadron members come home, their lenges about the healing power they hold with- sity of Virginia in 2001 through the Army’s work doesn’t end, Rossi said. in themselves. Well before its time, Bernie rec- Long Term Health Education and Training pro- ‘‘We have to maintain proficiency in the ognized that the better a patient was able to gram, Lieutenant Colonel Greene moved to aircraft,’’ he said. ‘‘We’re constantly train- cope with the emotional complexities of health , where she served in the Patient Ad- ing, and we train like we fight.’’ Such training can include low-level flying, issues, the more improved their overall health ministration Division at Tripler Army Medical tactical approaches and landings, Rossi said, outcome was—the mind-body connection. Center in Honolulu. with a goal of becoming proficient in such Upon this simple, yet innovative idea, Bernie Lieutenant Colonel Greene’s most recent before being in a deployed environment, es- has built a distinguished career. He is the assignments have been in Washington, DC. In pecially if facing combat. founder of ECaP, an individual and group ther- 2004, she became the Executive Assistant to For Anderson, training also is time to pre- apy program for recovering cancer patients, the Deputy Surgeon General. After two years pare for ‘‘a multitude of different types of the author of twelve books which have been in this capacity, she went to work as a Legis- contingencies.’’ ‘‘We have to be forward-looking at what invaluable resources to patients and loved lative Liaison in the Army Budget Congres- could happen and make sure our military is ones alike, and retired from Yale-New Haven sional Liaison Office. It was here that then- ready,’’ he said. ‘‘If we fight in other thea- Hospital as the Assistant Clinical Professor of Major Greene began working with my boss ters, like we’re down in South America or General and Pediatric Surgery. and predecessor, the late-Congressman John we’re in a different theater, it’s a very dif- I would be remiss if I did not extend a per- P. Murtha—and she soon became a capable ferent scenario.’’ sonal note of thanks to Bernie for his many and trusted liaison between the Chairman and Looking back on the accomplishment of years of special friendship and counsel. Dur- the Army. Most recently, she has served as 3,000 deployment days Tuesday, Bridwell said he was exceptionally proud of all the Dyess ing my tenure in Congress, I have focused Chief of Congressional Affairs for the Office of personnel ‘‘who serve our country so well.’’ much of my attention on health issues and I the Army Surgeon General. ‘‘I especially want to thank the families have often sought Bernie’s expertise and guid- Lieutenant Colonel Greene moves on to the for their daily contributions to our nation’s ance. He has always made himself available, next chapter of her life bolstered by the abid- hard-earned security,’’ he said. proving to be a wealth of knowledge on even ing love and support of her husband, Lieuten- Anderson said that the support of the com- the most complex of matters. I, like so many ant Colonel (Retired) Craig Greene, her two munity is essential in achieving the mile- others, consider myself fortunate to call him sons, Jackson and Austen, and her parents, stone. ‘‘Living in Abilene, folks here understand my friend. Ken and Linda Snow. what we go through and support us, and they Physician, author, advocate, mentor, com- Mr. Speaker, the strength of Lieutenant do that in a million different venues,’’ he munity leader, and friend, Dr. Bernard Siegel Colonel Greene’s character will ensure that said. has changed the face of how we view the re- she is successful in whatever she chooses to

VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00009 Fmt 0626 Sfmt 9920 E:\CR\FM\A20MR8.020 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS E396 CONGRESSIONAL RECORD — Extensions of Remarks March 20, 2012 do next. I congratulate her on a distinguished School. In 1953, Dr. Inghram elevated to the The Colorado Veterans Resource Coalition career, and I thank her for her many years of position of the San Bernardino School District has served more than 1,100 homeless vet- service. Superintendent. That made her the first Afri- erans since it was established. f can American school district superintendent in Eighty-one percent of veterans who suc- the State of California. cessfully completed the 90-day homeless pro- COMMENDING THOMAS GILMORE Based on her childhood experiences and gram were gainfully employed and moved into FOR HIS SERVICE TO THE NEW the strong example set by her parents, Dr. their own housing. JERSEY AUDUBON SOCIETY Inghram was an outspoken advocate for un- I thank the Colorado Veterans Resource derprivileged children to have an equal oppor- Coalition for their compassionate service to HON. LEONARD LANCE tunity to succeed. She stood above the racial our veterans in Colorado Springs and con- OF NEW JERSEY prejudices of her time and served as an excel- gratulate them on the 10th Anniversary of the IN THE HOUSE OF REPRESENTATIVES lent role model for others to emulate. Dr. Crawford House. Tuesday, March 20, 2012 Inghram was seen as a mentor for her tireless f work and dedication to the children of San Mr. LANCE. Mr. Speaker, I rise today to Bernardino. TRIBUTE TO THE LIFE OF congratulate Mr. Thomas Gilmore for nearly As a community leader, Dr. Inghram encour- RICHARD MILANOVICH three decades of leadership and dedication to aged others to always do their personal best the New Jersey Audubon Society. Tom Gil- and to work towards making a positive con- HON. JOE BACA more is a known conservation visionary and tribution to society. In recognition of her nu- OF CALIFORNIA respected voice for wildlife and I congratulate merous contributions, the City of San IN THE HOUSE OF REPRESENTATIVES him on this well deserved retirement. Bernardino honored Dr. Inghram in 1977 by Tuesday, March 20, 2012 Under Tom’s dedicated watch, thousands of naming one of the city’s libraries after her. At acres of threatened and endangered species age 97, she was again recognized for her out- Mr. BACA. Mr. Speaker, I stand here today habitats have been protected and open space, standing work by receiving an honorary doc- to pay tribute to a great tribal leader, role farmland and historic preservation became a torate degree from California State University model, and veteran Richard Milanovich. Rich- priority in our great Garden State. San Bernardino. ard, Chairman of the Agua Caliente Band of Throughout Tom’s tenure, wildlife research Dr. Inghram’s siblings also left their mark on Cahuilla Indians, passed away on March 11, and environmental education blossomed San Bernardino. Her brother, Howard, was the 2012, at the age of sixty-nine. across the state. Tom’s leadership paved the first African American physician in San Richard was born on December 4, 1942, way for the Audubon Society’s Citizen Science Bernardino. Another brother, Ben, worked as a and spent his childhood living with his mother, program to flourish. This important program chef at one of the finest restaurants, the Choc- LaVerne Saubel, who was a strong advocate empowers volunteers of all skill levels and olate Palace. And her sister Ruth worked as a for Indian rights in her own right. LaVerne set backgrounds to engage in wildlife conservation nurse. an outstanding example for her son, and was and leverages the strengths and talents of My thoughts and prayers, along with those a member of the all-female tribal council that hundreds of individuals while training our of my wife, Barbara, and my children, Rialto persuaded Congress to allow self-governance state’s future conservation leaders. City Councilman Joe Baca, Jr., Jeremy, Nat- for the Agua Caliente Band of Chauilla Indians Tom’s passion, skill and perseverance have alie, and Jennifer are with Dr. Inghram’s family in 1957. Richard’s upbringing in his mother’s transformed New Jersey, marshalling in the at this time. Mr. Speaker, I ask my colleagues home instilled in him a passion for the Indian preservation of our most significant and be- to pay tribute to Dr. Dorothy Inghram. community. Richard lived with his mother until the age loved natural treasures. f I honor this remarkable leader and welcome of 17, when he left home to join the United the new era of conservation talent that will IN RECOGNITION OF THE 10TH AN- States Army. After his time in the service, guide the Garden State’s environmental future. NIVERSARY OF THE CRAWFORD Richard worked as a door-to-door salesman, f HOUSE selling items such as vacuum cleaners and encyclopedias, until joining the tribal council at TRIBUTE TO THE LIFE OF DR. HON. DOUG LAMBORN age 35. DOROTHY INGHRAM OF COLORADO Richard was one of the earliest patriarchs of IN THE HOUSE OF REPRESENTATIVES Indian gaming in California. During his first few HON. JOE BACA years on the council, he convinced the tribal Tuesday, March 20, 2012 OF CALIFORNIA council to purchase the Spa Hotel in down- IN THE HOUSE OF REPRESENTATIVES Mr. LAMBORN. Mr. Speaker, I rise today to town Palm Springs in 1992. This purchase recognize an exemplary organization in Colo- helped to revitalize downtown Palm Springs Tuesday, March 20, 2012 rado Springs that provides shelter and serv- and paved the way for the future economic Mr. BACA. Mr. Speaker, I stand here today ices for homeless veterans in Southern Colo- stability of the Agua Caliente band of Chuilla to pay tribute to a great educator, pioneer, rado. Indians, as well as other tribes in California. mentor, and role model, Dr. Dorothy Inghram. The Colorado Veterans Resource Coalition At the time of his passing, Richard was the Dr. Dorothy Inghram, the first African Amer- is celebrating the 10th Anniversary of its Chairman of the Agua Caliente band of Chuilla ican teacher in San Bernardino County, Crawford House this year. The House pro- Indians. Richard’s 30 years of service to the passed away March 14, 2012, at the age of vides emergency shelter to veterans in down- tribe left a lasting impact not only on his tribe, one hundred six. town Colorado Springs. but California at large. Richard was not only Dr. Inghram was the youngest of 7 children, Established in 2002, the House is named passionate about protecting the future and sta- born on November 9, 1905, to Henry and after World War II Medal of Honor recipient, bility of the Agua Caliente Band of Cahuilla In- Mary Inghram in San Bernardino, California. retired Master Sergeant William J. Crawford. dians, but he also gave back to his sur- She started school in 1911 at Mt. Vernon Ele- The Colorado Veterans Resource Coalition rounding community through his advocacy for mentary School and graduated from San takes great pride in offering safe, healthy, al- the gaming industry. Indian gaming is one of Bernardino High School in 1923. cohol and drug-free emergency housing. The the surest ways to create economic develop- Dr. Inghram later attended San Bernardino group also offers VA-sponsored substance ment in a region; proving jobs and revenue for Valley College from 1928 until 1933, where abuse rehabilitation. tribal self governance, maintenance, and edu- she wrote the school’s alma mater, which is The Crawford House and the transitional cation. still in use today. Dr. Inghram was the first Af- homes can take in up to 25 residents at a Richard’s strong advocacy at the state and rican American student to attend the Univer- time. Currently, the House has a waiting list of national level for the rights of the Indian peo- sity of Redlands. She graduated with a bach- 100 veterans. The Crawford House is very ple and gaming allowed his tribe to gain re- elor’s degree in music education in 1934. unique in homeless programming in that, they spect and high standing among tribes across After graduating from college, and teaching provide job placement assistance through co- the country. in Texas for a few years, Dr. Inghram moved ordination with workforce centers, com- Richard was known as a great mentor to the back to San Bernardino in 1939 to continue pensated work therapy and numerous other younger leaders; his tireless work on behalf of her teaching career. In 1951, Dr. Inghram was partners including the Department of Veterans the Indian community left younger tribal lead- promoted to the position of principal of Mill Affairs. ers with a strong example of hard work and

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VerDate Mar 15 2010 04:10 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00011 Fmt 0626 Sfmt 9920 E:\CR\FM\A20MR8.025 E20MRPT1 smartinez on DSK6TPTVN1PROD with REMARKS Tuesday, March 20, 2012 Daily Digest Senate By 55 yeas to 44 nays (Vote No. 52), three-fifths Chamber Action of those Senators duly chosen and sworn, not having Routine Proceedings, pages S1817–S1872 voted in the affirmative, Senate rejected the motion Measures Introduced: Nine bills and one resolu- to close further debate on Reid (for Cantwell) tion were introduced, as follows: S. 2206–2214, and Amendment No. 1836 (to the language proposed to S. Res. 400. Pages S1847–48 be stricken by Amendment No. 1833). Measures Considered: Pages S1841–42 A unanimous-consent agreement was reached pro- Reopening American Capital Markets to Emerg- viding for further consideration of the bill at ap- ing Growth Companies Act—Agreement: Senate proximately 10:30 a.m., on Wednesday, March 21, continued consideration of H.R. 3606, to increase 2012. Page S1872 American job creation and economic growth by im- proving access to the public capital markets for House Messages: emerging growth companies, taking action on the Stop Trading on Congressional Knowledge Act— following amendments proposed thereto: Agreement: Senate began consideration of the Pages S1824–31, S1832–39, S1840–42 amendment of the House of Representatives to S. Pending: 2038, to prohibit Members of Congress and employ- Reid (for Reed) Amendment No. 1833, in the na- ees of Congress from using nonpublic information ture of a substitute. Page S1824 derived from their official positions for personal ben- Reid Amendment No. 1834 (to Amendment No. efit, taking action on the following motions and 1833), to change the enactment date. Page S1824 amendments proposed thereto: Pages S1839–40 Reid Amendment No. 1835 (to Amendment No. Pending: 1834), of a perfecting nature. Page S1824 Reid motion to concur in the amendment of the Reid (for Cantwell) Amendment No. 1836 (to the House to the bill. Page S1839 language proposed to be stricken by Amendment Reid motion to concur in the amendment of the No. 1833), to reauthorize the Export-Import Bank of House to the bill, with Reid Amendment No. 1940, the United States. Pages S1824, S1837–39 to change the enactment date. Page S1839 Reid Amendment No. 1837 (to Amendment No. Reid Amendment No. 1941 (to Amendment No. 1836), to change the enactment date. Page S1824 1940), of a perfecting nature. Page S1839 Reid motion to recommit the bill to the Com- Reid motion to refer the message of the House on mittee on Banking, Housing, and Urban Affairs, the bill to the Committee on Homeland Security with instructions, Reid Amendment No. 1838, to and Governmental Affairs, with instructions, Reid change the enactment date. Page S1824 Amendment No. 1942, to change the enactment Reid Amendment No. 1839 (to (the instructions) date. Pages S1839–40 Amendment No. 1838), of a perfecting nature. Reid Amendment No. 1943 (to (the instructions) Page S1824 Amendment No. 1942), of a perfecting nature. Reid Amendment No. 1840 (to Amendment No. Page S1840 1839), of a perfecting nature. Page S1824 Reid Amendment No. 1944 (to Amendment No. During consideration of this measure today, Senate 1943), of a perfecting nature. Page S1840 also took the following action: A motion was entered to close further debate on By 54 yeas to 45 nays (Vote No. 51), three-fifths Reid motion to concur in the amendment of the of those Senators duly chosen and sworn, not having House to the bill, and, in accordance with the provi- voted in the affirmative, Senate rejected the motion sions of Rule XXII of the Standing Rules of the to close further debate on Reid (for Reed) Amend- Senate, a vote on cloture will occur on Thursday, ment No. 1833. Pages S1840–41 March 22, 2012. Page S1839 D269

VerDate Mar 15 2010 04:02 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00001 Fmt 0627 Sfmt 0627 E:\CR\FM\D20MR2.REC D20MRPT1 smartinez on DSK6TPTVN1PROD with DIGEST D270 CONGRESSIONAL RECORD — DAILY DIGEST March 20, 2012 Honoring Senator Mikulski—Agreement: A and Engineering, and Kaigham J. Gabriel, Acting unanimous-consent-time agreement was reached Director, Defense Advanced Research Projects Agen- proving that the time from 2:30 p.m. until 3 p.m., cy, both of the Department of Defense; Michael on Wednesday, March 21, 2012, be as if in morning Wertheimer, Director of Research, National Security business to acknowledge the milestone reached by Agency; and James Peery, Director, Information Sys- Senator Mikulski as the longest serving woman in tems and Analysis Center, Sandia National Labora- Congress. Page S1872 tories. Messages from the House: Page S1846 NOMINATIONS Measures Referred: Page S1846 Committee on Banking, Housing, and Urban Affairs: Measures Placed on the Calendar: Committee concluded a hearing to examine the Pages S1817, S1846 nominations of Jerome H. Powell, of Maryland, and Executive Communications: Pages S1846–47 Jeremy C. Stein, of Massachusetts, both to be a Member of the Board of Governors of the Federal Additional Cosponsors: Page S1848 Reserve System, Jeremiah O’Hear Norton, of Vir- Statements on Introduced Bills/Resolutions: ginia, to be a Member of the Board of Directors of Pages S1848–50 the Federal Deposit Insurance Corporation for the re- Additional Statements: Pages S1844–46 mainder of the term expiring July 15, 2013, who was introduced by Senator Coats, and Richard B. Amendments Submitted: Pages S1850–71 Berner, of Massachusetts, to be Director, Office of Authorities for Committees to Meet: Financial Research, and Christy L. Romero, of Vir- Pages S1871–72 ginia, to be Special Inspector General for the Trou- Privileges of the Floor: Page S1872 bled Asset Relief Program, both of the Department of the Treasury, after the nominees testified and an- Record Votes: Two record votes were taken today. swered questions in their own behalf. (Total—52) Pages S1840–42 Adjournment: Senate convened at 10 a.m. and ad- COMMERCIAL AIRLINE SAFETY journed at 5:21 p.m., until 9:30 a.m. on Wednes- Committee on Commerce, Science, and Transportation: Sub- day, March 21, 2012. (For Senate’s program, see the committee on Aviation Operations, Safety, and Secu- remarks of the Majority Leader in today’s Record on rity concluded an oversight hearing to examine com- page S1872.) mercial airline safety, after receiving testimony from Margaret Gilligan, Associate Administrator for Avia- Committee Meetings tion Safety, Federal Aviation Administration, and Calvin L. Scovel III, Inspector General, both of the (Committees not listed did not meet) Department of Transportation; William R. Voss, Flight Safety Foundation, Alexandria, Virginia; DEFENSE AUTHORIZATION REQUEST AND Gregory Belenky, Washington State University Sleep FUTURE YEARS DEFENSE PROGRAM and Performance Research Center, Spokane; and Carl Committee on Armed Services: Committee concluded a Kuwitzky, Coalition of Airline Pilots Associations, hearing to examine the Department of the Air Force and Thomas L. Hendricks, Airlines for America, in review of the Defense Authorization request for both of Washington, D.C. fiscal year 2013 and the Future Years Defense Pro- gram, after receiving testimony from Michael B. NOMINATIONS Donley, Secretary of the Air Force, and General Nor- Committee on Energy and Natural Resources: Committee ton A. Schwartz, Chief of Staff, United States Air concluded a hearing to examine the nominations of Force, both of the Department of Defense. Adam E. Sieminski, of Pennsylvania, to be Adminis- trator of the Energy Information Administration, DEFENSE AUTHORIZATION REQUEST AND Department of Energy, Marcilynn A. Burke, of FUTURE YEARS DEFENSE PROGRAM North Carolina, to be an Assistant Secretary of the Committee on Armed Services: Subcommittee on Emerg- Interior, and Anthony T. Clark, of North Dakota, ing Threats and Capabilities concluded open and who was introduced by Senator Hoeven, and John closed hearings to examine cybersecurity research and Robert Norris, of Iowa, who was introduced by Sen- development in review of the Defense Authorization ators Grassley and Harkin, both to be a Member of request for fiscal year 2013 and the Future Years the Federal Energy Regulatory Commission, after the Defense Program, after receiving testimony from nominees testified and answered questions in their Zachary J. Lemnios, Assistant Secretary for Research own behalf.

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MERCURY AND AIR TOXICS STANDARDS and Jacob Walles, of Delaware, to be Ambassador to Committee on Environment and Public Works: Sub- the Tunisian Republic, who was introduced by Sen- committee on Clean Air and Nuclear Safety con- ator Coons, all of the Department of State, after the cluded an oversight hearing to examine the Environ- nominees testified and answered questions in their mental Protection Agency’s Mercury and Air Toxics own behalf. Standards for power plants, after receiving testimony from Regina McCarthy, Assistant Administrator, En- OFFICE OF SPECIAL COUNSEL AND MERIT vironmental Protection Agency; Robert M. Sum- SYSTEMS PROTECTION BOARD mers, Maryland Department of the Environment Sec- Committee on Homeland Security and Governmental Af- retary, Baltimore; Robert K. James, Avon Lake City fairs: Subcommittee on Oversight of Government Council Member, Avon Lake, Ohio; William Lam- Management, the Federal Workforce, and the Dis- bert, Oregon Health and Science University, Port- trict of Columbia concluded a hearing to examine a land; Harry Alford, National Black Chamber of review of the Office of Special Counsel and Merit Commerce, Washington, D.C.; and Vickie Patton, Systems Protection Board, after receiving testimony Environmental Defense Fund, Boulder, Colorado. from Susan Tsui Grundmann, Chairman, Merit Sys- TAX FRAUD BY IDENTITY THEFT tems Protection Board; and Carolyn Lerner, Special Counsel, United States Office of Special Counsel. Committee on Finance: Subcommittee on Fiscal Re- sponsibility and Economic Growth concluded a hear- STUDENT DEBT ing to examine tax fraud by identity theft, part 2, Committee on the Judiciary: Subcommittee on Admin- focusing on status, progress, and potential solutions, istrative Oversight and the Courts concluded a hear- after receiving testimony from Steven T. Miller, ing to examine student debt, focusing on providing Deputy Commissioner for Services and Enforcement, fairness for struggling students, including S. 1102, Internal Revenue Service, and Nina E. Olson, Na- to amend title 11, United States Code, with respect tional Taxpayer Advocate, both of the Department of to certain exceptions to discharge in bankruptcy, the Treasury; Ronald A. Cimino, Deputy Assistant Attorney General for Criminal Matters, Tax Divi- after receiving testimony from Kentucky Attorney sion, Department of Justice; Sal Augeri, Tampa Po- General Jack Conway, Frankfort; Illinois Attorney lice Department, Tampa, Florida; Bernard F. McKay, General Lisa Madigan, and Danielle Jokela, both of American Coalition for Taxpayer Rights (ACTR), Chicago, Illinois; G. Marcus Cole, Stanford Univer- Washington, D.C.; and Kirsten Trusko, Network sity, Stanford, California; Deanne Loonin, National Branded Prepaid Card Association, Montvale, New Consumer Law Center (NCLC), Boston, Massachu- Jersey. setts; and Neal McCluskey, Cato Institute, Wash- ington, D.C. NOMINATIONS Committee on Foreign Relations: Committee concluded INTELLIGENCE a hearing to examine the nominations of Carlos Select Committee on Intelligence: Committee held closed Pascual, of the District of Columbia, to be Assistant hearings on intelligence matters, receiving testimony Secretary for Energy Resources, John Christopher from officials of the intelligence community. Stevens, of California, to be Ambassador to Libya, Committee recessed subject to the call. h House of Representatives H. Res. 591, providing for consideration of the Chamber Action bill (H.R. 5) to improve patient access to health care Public Bills and Resolutions Introduced: 14 pub- services and provide improved medical care by re- lic bills, H.R. 4214–4227; and 4 resolutions, H. ducing the excessive burden the liability system Con. Res. 109; and H. Res. 589–590, 592 were in- places on the health care delivery system (H. Rept. troduced. Pages H1426–27 112–416) and Additional Cosponsors: Page H1428 H.R. 4014, to amend the Federal Deposit Insur- ance Act with respect to information provided to the Reports Filed: Reports were filed today as follows:

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officials: Michael Scuse, Acting Under Secretary, a hearing on FY 2013 Budget Request for Depart- Farm and Foreign Agricultural Services; Bruce Nel- ment of Energy, Office of Science. Testimony was son, Administrator, Farm Service Agency; Suzanne E. heard from Bill Brinkman, Under Secretary for Heinen, Acting Administrator, Foreign Agricultural Science (Acting), Office of Science. Services; William Murphy, Administrator, Risk Management Agency; and Michael Young, Budget APPROPRIATIONS—OFFICE OF Officer. MANAGEMENT AND BUDGET Committee on Appropriations: Subcommittee on Finan- APPROPRIATIONS—DEPARTMENT OF COMMERCE cial Services and General Government held a hearing on FY 2013 Budget Request for Office of Manage- Committee on Appropriations: Subcommittee on Com- ment and Budget. Testimony was heard from Jeffrey merce, Justice, Science, and Related Agencies held a Zients, Acting Director, Office of Management and hearing on FY 2013 Budget Request for the Depart- Budget. ment of Commerce. Testimony was heard from John Bryson, Secretary, Department of Commerce. APPROPRIATIONS—NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION APPROPRIAITONS—NATIONAL ARCHIVES Committee on Appropriations: Subcommittee on Com- Committee on Appropriations: Subcommittee on Finan- merce, Justice, Science, and Related Agencies held a cial Services and General Government held a hearing hearing on FY 2013 Budget Request for National on FY 2013 Budget Request for National Archives. Oceanic and Atmospheric Administration. Testi- Testimony was heard from David S. Ferriero, Archi- mony was heard from Jane Lubchenco, Under Sec- vist, National Archives and Records Administration. retary of Commerce for Oceans and Atmosphere and APPROPRIATIONS—U.S. MISSION TO THE National Oceanic and Atmospheric Administration UNITED NATIONS Administrator. Committee on Appropriations: Subcommittee on State, RECENT DEVELOPMENTS IN Foreign Operations, and Related Programs held a AFGHANISTAN hearing on FY 2013 Budget Request for U.S. Mis- Committee on Armed Services: Full Committee held a sion to the United Nations. Testimony was heard hearing on the recent developments in Afghanistan. from Susan Rice, Ambassador, U.S. Mission to the Testimony was heard from General John Allen, United Nations. USMC, Commander, International Security Assist- APPROPRIATIONS—NATIONAL ance Force; and James N. Miller, Jr., Acting Under INSTITUTES OF HEALTH Secretary of Defense and Principal Under Secretary of Committee on Appropriations: Subcommittee on Labor, Defense Policy. Health and Human Services, Education, and Related INFORMATION TECHNOLOGY AND CYBER Agencies held a hearing on FY 2013 Budget Re- OPERATIONS PROGRAM FY 2013 BUDGET quest for the National Institutes of Health. Testi- REQUEST mony was heard from Francis S. Collins, Director of National Institutes of Health; Thomas R. Insel, Di- Committee on Armed Services: Subcommittee on Emerg- rector, National Institute of Mental Health, Acting ing Threats and Capabilities held a hearing on the Director, National Center for Advancing Fiscal Year 2013 Budget Request for Information Translational Sciences; and public witnesses. Technology and Cyber Operations Programs. Testi- mony was heard from Teresa Takai, Chief Informa- APPROPRIATIONS—NATIONAL PARK tion Officer, Department of Defense; General Keith SERVICE Alexander, USA, Commander, U.S. Cyber Com- Committee on Appropriations: Subcommittee on Inte- mand, Department of Defense; and Madelyn rior, Environment, and Related Agencies held a Creedon, Assistant Secretary of Defense for Global hearing on FY 2013 Budget Request for National Strategic Affairs, Department of Defense. Park Service. Testimony was heard from Jon Jarvis, NAVY, MARINE CORPS AND AIR FORCE Director, National Park Service; Bruce Sheaffer, TACTICAL AVIATION PROGRAMS Comptroller, National Park Service; and Peggy O’Dell, Deputy Director, National Park Service. Committee on Armed Services: Subcommittee on Tac- tical Air and Land Force held a hearing on Navy, APPROPRIATIONS—DEPARTMENT OF Marine Corps and Air Force tactical aviation pro- ENERGY grams. Testimony was heard from Frank Kendall, Committee on Appropriations: Subcommittee on Energy Acting Undersecretary of Defense for Acquisition, and Water Development, and Related Agencies held Technology and Logistics, Office of the Secretary of

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VerDate Mar 15 2010 04:02 Mar 21, 2012 Jkt 019060 PO 00000 Frm 00006 Fmt 0627 Sfmt 0627 E:\CR\FM\D20MR2.REC D20MRPT1 smartinez on DSK6TPTVN1PROD with DIGEST March 20, 2012 CONGRESSIONAL RECORD — DAILY DIGEST D275 Creek, Alaska, is and shall be recognized as an eligi- HELP EFFICIENT, ACCESSIBLE, LOW-COST, ble Native village under that Act, and for other pur- TIMELY HEALTHCARE (HEALTH) ACT OF poses. Testimony was heard from Tim Spisak, Dep- 2011 uty Assistant Director, Minerals and Realty Manage- Committee on Rules: Full Committee held a hearing on ment, Bureau of Land Management, Department of H.R. 5, the ‘‘Help Efficient, Accessible, Low-cost, the Interior; and public witnesses. Timely Healthcare (HEALTH) Act of 2011’’. The Committee granted, by a record vote of 7 to 4, a PROPOSED DWIGHT D. EISENHOWER structured rule providing six hours of general debate MEMORIAL equally divided among and controlled by the respec- Committee on Natural Resources: Subcommittee on Na- tive chairs and ranking minority members of the tional Parks, Forest and Public Lands held a hearing Committees on Energy and Commerce, the Judici- entitled ‘‘Proposed Dwight D. Eisenhower Memo- ary, and Ways and Means. The rule waives all points rial’’. Testimony was heard from Representative Bos- of order against consideration of the bill. The rule well; Susan Eisenhower, representing the Eisenhower provides that an amendment in the nature of a sub- Family; Stephen E. Whitesell, Regional Director, stitute consisting of the text of Rules Committee National Capital Region, National Park Service, De- Print 112–18 shall be considered as adopted and the partment of the Interior; William J. Guerin, Assist- bill, as amended, shall be considered as original text ant Commissioner for the Office of Construction for the purpose of amendment and shall be consid- Programs, Public Buildings Service, General Services ered as read. The rule waives all points of order Administration; Brig. Gen. Carl W. Reddel, USAF against provisions in the bill, as amended. The rule (Ret.), Executive Director, Dwight D. Eisenhower makes in order only those further amendments print- Memorial Commission; Bruce Cole, former Chair- ed in the Rules Committee report. Each such man, National Endowment for the Humanities, and amendment may be offered only in the order printed public witnesses. in the report, may be offered only by a Member des- ignated in the report, shall be considered as read, FISCAL YEAR 2013 SPENDING PRIORITIES shall be debatable for the time specified in the re- AND THE MISSIONS OF THE BUREAU OF port equally divided and controlled by the proponent and an opponent, shall not be subject to amend- RECLAMATION, THE U.S. GEOLOGICAL ment, and shall not be subject to a demand for divi- SURVEY’S WATER RESOURCES PROGRAM sion of the question. The rule waives all points of AND THE FOUR POWER MARKETING order against amendments printed in the report. Fi- ADMINISTRATIONS nally, the rule provides one motion to recommit Committee on Natural Resources: Subcommittee on with or without instructions. Testimony was heard Water and Power held a hearing entitled ‘‘Exam- from Representatives Franks, AZ; Nadler; Jackson ining the Proposed Fiscal Year 2013 Spending Prior- Lee, TX; Waters; Johnson, GA; Deutch; Gingrey, ities and the Missions of the Bureau of Reclamation, GA; Broun, GA; Gosar; and Wasserman Schultz. the U.S. Geological Survey’s Water Resources pro- OFFICE OF COMMERCIAL SPACE gram and the Four Power Marketing Administra- TRANSPORTATION BUDGET FOR FY 2013 tions’’. Testimony was heard from Michael L. Con- nor, Commissioner, Bureau of Reclamation; Stephen Committee on Science, Space, and Technology: Sub- Wright, Administrator, Bonneville Power Adminis- committee on Space and Aeronautics held a hearing tration; Timothy Meeks, Administrator, Western entitled ‘‘An Overview of the Office of Commercial Area Power Administration; James McDonald, Act- Space Transportation Budget for Fiscal Year 2013’’. ing Administrator, Southwestern Power Administra- Testimony was heard from George Nield, Associate tion; Kenneth Legg, Administrator, Southeastern Administrator for Commercial Space Transportation, Power Administration; and Bill Werkheiser, Asso- Federal Aviation Administration; Wilbur C. Trafton ciate Director for Water, Geological Survey. (USN Ret.), Chairman, Commercial Space Transpor- tation Advisory Committee. DEPARTMENT OF ENERGY’S STIMULUS NO-COST IMPROVEMENTS TO THE CHILD SPENDING SUPPORT ENFORCEMENT PROGRAM Committee on Oversight and Government Reform: Full Committee on Ways and Means: Subcommittee on Committee held a hearing entitled ‘‘Oversight of the Human Resources held a hearing on no-cost im- Department of Energy’s Stimulus Spending’’. Testi- provements to the child support enforcement (CSE) mony was heard from Steven Chu, Secretary, Depart- program. Testimony was heard from Marilyn Ste- ment of Energy. phen, Director, Office of Child Support, Michigan

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Testimony was heard from Michael J. Astrue, and Jeffrey D. Levine, of California, to be Ambassador to Commissioner, Social Security Administration; Trudy the Republic of Estonia, all of the Department of State, Lyon-Hart, Director, Office of Disability Determina- 10 a.m., SD–419. tion Services, Vermont Agency of Human Services, Committee on Homeland Security and Governmental Affairs: on behalf of the National Council of Disability De- to hold hearings to examine retooling government for the termination Directors; Lisa D. Ekman, Senior Policy 21st century, focusing on the President’s reorganization plan and reducing duplication, 10 a.m., SD–342. Advisor, Health and Disability Advocates on behalf Full Committee, to hold hearings to examine the Presi- of the Consortium for Citizens with Disabilities So- dent’s proposed budget request for fiscal year 2013 for cial Security Task Force; Dan Bertoni, Director, Edu- the Department of Homeland Security, 2:30 p.m., cation, Workforce, and Income Security Issues, Gov- SD–342. ernment Accountability Office; and Leighton Chan, Committee on the Judiciary: to hold hearings to examine Chief, Rehabilitation Medicine Department, Na- convicting the guilty and exonerating the innocent, 10 tional Institutes of Health. a.m., SD–226. Subcommittee on Antitrust, Competition Policy and Consumer Rights, to hold hearings to examine Verizon Joint Meetings and cable deals, 2 p.m., SD–226. No joint committee meetings were held. Committee on Veterans’ Affairs: to hold joint hearings to examine the legislative presentations of the Military f Order of the Purple Heart, Iraq and Afghanistan Veterans COMMITTEE MEETINGS FOR WEDNESDAY, of America (IAVA), Non Commissioned Officers Associa- tion, American Ex-Prisoners of War, Vietnam Veterans of MARCH 21, 2012 America, Wounded Warrior Project, National Association (Committee meetings are open unless otherwise indicated) of State Directors of Veterans Affairs, and The Retired Enlisted Association, 10 a.m., SD–G50. Senate Committee on Appropriations: Subcommittee on Depart- House ment of Homeland Security, to hold hearings to examine Committee on Agriculture, Subcommittee on Rural Devel- balancing prosperity and security, focusing on challenges opment, Research, Biotechnology, and Foreign Agri- for United States air travel in a 21st century global econ- culture, hearing entitled ‘‘To Identify Duplicative Federal omy, 10 a.m., SD–138. Rural Development Programs’’, 10 a.m., 1300 Long- Subcommittee on Department of Defense, to hold hear- worth. ings to examine proposed budget estimates for fiscal year Committee on Appropriations, Subcommittee on State, 2013 for the Department of the Army, 10:30 a.m., Foreign Operations, and Related Projects, hearing on the SD–192. FY 2013 Budget for Department of State, Near Eastern Subcommittee on Energy and Water Development, to Affairs, 8:30 a.m., HVC–301. This is a closed hearing. hold hearings to examine proposed budget estimates for Subcommittee on Commerce, Justice, Science, and Re- fiscal year 2013 for the National Nuclear Security Ad- lated Agencies, hearing on FY 2013 Budget Request for ministration, 2:30 p.m., SD–192. National Aeronautics and Space Administration, 9 a.m., Subcommittee on Financial Service and General Gov- 2359 Rayburn. ernment, to hold hearings to examine strengthening mar- Subcommittee on Labor, Health and Human Services, ket oversight and integrity, focusing on fiscal year 2013 Education, and Related Agencies, hearing on FY 2013 resource needs of the Commodity Futures Trading Com- Budget Request for Veterans Employment and Training mission, 2:30 p.m., SD–138. Programs, 10 a.m., 2358–C Rayburn. Committee on Armed Services: Subcommittee on Readiness Subcommittee on Agriculture, Rural Development, and Management Support, to hold hearings to examine Food and Drug Administration, and Related Agencies, military construction, environmental, and base closure hearing on FY 2013 Budget Request for the Department programs in review of the Defense Authorization request of Agriculture, 10 a.m., 2362–A Rayburn. for fiscal year 2013 and the Future Years Defense Pro- Subcommittee on Defense, hearing on FY 2013 Budget gram, 10 a.m., SR–232A. Request for the U.S. Central Command and the Inter- Subcommittee on Strategic Forces, to hold hearings to national Security Assistance Force, 10 a.m., H–140 Cap- examine military space programs in review of the Defense itol. This is a closed hearing.

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Subcommittee on Energy and Water Development, and Subcommittee on the Middle East and South Asia, Related Agencies, hearing on FY 2013 Budget Request hearing entitled ‘‘Halting the Descent: U.S. Policy to- for the Department of Energy, 10 a.m., 2362–B Rayburn. ward the Deteriorating Situation in Iraq’’, 1:30 p.m., Subcommittee on Financial Services and General Gov- 2172 Rayburn. ernment, hearing on FY 2013 Budget Request for Inter- Committee on Homeland Security, Full Committee, hearing nal Revenue Service, 10 a.m., H–309, Capitol. entitled ‘‘Iran, Hezbollah, and the Threat to the Home- Subcommittee on Military Construction, Veterans Af- land’’, 9:30 a.m., 311 Cannon. fairs, and Related Agencies, hearing on FY 2013 Budget Committee on the Judiciary, Subcommittee on Crime, Request, 2 p.m., H–140 Capitol. Terrorism, and Homeland Security, hearing entitled ‘‘Se- Subcommittee on Homeland Security, hearing on De- cure Identification: The REAL ID Act’s Minimum Stand- partment of Homeland Security Facilities, 10 a.m., ards for Driver’s Licenses and Identification Cards’’, 10 B–318 Rayburn. a.m., 2141 Rayburn. Subcommittee on Transportation, Housing and Urban Subcommittee on Courts, Commercial and Administra- Development, and Related Agencies, hearing on FY 2013 tive Law, hearing entitled ‘‘The Office of Information and Budget Request for the Department of Housing and Regulatory Affairs: Federal Regulations and Regulatory Urban Development, 10 a.m., 2358–A Rayburn. Reform under the Obama Administration’’, 1:30 p.m., Subcommittee on Interior, Environment, and Related 2141 Rayburn. Agencies, hearing on FY 2013 Budget Issues, 1 p.m., Committee on Natural Resources, Full Committee, hearing B–308 Rayburn. entitled ‘‘Harnessing American Resources to Create Jobs Subcommittee on Financial Services and General Gov- and Address Rising Gasoline Prices: Families and Cost- ernment, hearing on FY 2013 Budget Request for Small of-Life Impacts’’, 10 a.m., 1324 Longworth. Business Administration, 2 p.m., 2359 Rayburn. Committee on Oversight and Government Reform, Full Com- Committee on Armed Services, Subcommittee on Military mittee, hearing entitled ‘‘Europe’s Sovereign Debt Crisis: Personnel, hearing on the Defense Health Program budg- Causes, Consequences for the United States and Lessons et overview, 3 p.m., 2212 Rayburn. Learned’’, 9:30 a.m., 2154 Rayburn. Committee on the Budget, Full Committee, markup of the Subcommittee on Technology, Information Policy, Concurrent Resolution on the Budget for Fiscal Year Intergovernmental Relations and Procurement Reform, 2013, 10:30 a.m., 210 Cannon. Committee on Education and the Workforce, Full Com- hearing entitled ‘‘FOIA in the 21st Century: Using Tech- mittee, hearing entitled ‘‘Reviewing the President’s Fiscal nology to Improve Transparency in Government’’, 2 p.m., Year 2013 Budget Proposals for the U.S. Department of 2154 Rayburn. Labor’’, 10 a.m., 2175 Rayburn. Committee on Small Business, Full Committee, hearing Committee on Energy and Commerce, Subcommittee on entitled ‘‘A Job Creation Roadmap: How America’s En- Oversight and Investigations, hearing entitled ‘‘The Cen- trepreneurs Can Lead Our Economic Recovery’’, 1 p.m., ter for Consumer Information and Insurance Oversight 2360 Rayburn. and the Anniversary of the Patient Protection and Afford- Committee on Transportation and Infrastructure, Sub- able Care Act’’, 10 a.m., 2123 Rayburn. committee on Water Resources and Environment, hearing Committee on Financial Services, Subcommittee on Capital entitled ‘‘Review of Innovative Financing Approaches for Markets and Government Sponsored Enterprise, hearing Community Water Infrastructure Projects—Part II’’, 10 on the Swap Data and Clearing House Indemnification a.m., 2167 Rayburn. Correction Act of 2012, 10 a.m., 2128 Rayburn. Subcommittee on Oversight and Investigation, business Joint Meetings meeting to consider a motion authorizing the issuance of Commission on Security and Cooperation in Europe: to hold a subpoena ad testificandum for the appearance of Edith hearings to examine prerequisites for progress in North- O’Brien, 2 p.m., 2128 Rayburn. ern Ireland, focusing on the 1998 Good Friday Agree- Committee on Foreign Affairs, Full Committee, hearing ment, and the current challenges to full implementation entitled ‘‘Russia 2012: Increased Repression, Rampant of the agreement and the action that is necessary for con- Corruption, Assisting Rogue Regimes’’, 10:30 a.m., 2172 tinued confidence and progress in the peace process, 2 Rayburn. p.m., 2247 Rayburn Building.

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Next Meeting of the SENATE Next Meeting of the HOUSE OF REPRESENTATIVES 9:30 a.m., Wednesday, March 21 10 a.m., Wednesday, March 21

Senate Chamber House Chamber Program for Wednesday: After the transaction of any Program for Wednesday: Consideration of H.R. 5— morning business (not to extend beyond one hour), Senate Help Efficient, Accessible, Low-cost, Timely Healthcare will continue consideration of H.R. 3606, Reopening (HEALTH) Act (Subject to a Rule). American Capital Markets to Emerging Growth Compa- nies Act. From 2:30 p.m. until 3 p.m., Senate will be in a period of morning business to acknowledge the mile- stone reached by Senator Mikulski as the longest serving woman in Congress.

Extensions of Remarks, as inserted in this issue

HOUSE Crowley, Joseph, N.Y., E391 Lance, Leonard, N.J., E387, E396 DeLauro, Rosa L., Conn., E388, E395 Lee, Barbara, Calif., E393 Alexander, Rodney, La., E390 Denham, Jeff, Calif., E388 Lipinski, Daniel, Ill., E389 Baca, Joe, Calif., E396, E396 Graves, Sam, Mo., E393 Neugebauer, Randy, Tex., E394 Berkley, Shelley, Nev., E392 Green, Gene, Tex., E391 Pence, Mike, Ind., E387 Bono Mack, Mary, Calif., E392 Guinta, Frank C., N.H., E392 Brady, Kevin, Tex., E388 Hahn, Janice, Calif., E393 Ribble, Reid J., Wisc., E394 Butterfield, G.K., N.C., E392 Higgins, Brian, N.Y., E390 Roe, David P., Tenn., E390 Carnahan, Russ, Mo., E389 Hunter, Duncan, Calif., E393 Schmidt, Jean, Ohio, E390 Coffman, Mike, Colo., E392 Kinzinger, Adam, Ill., E387 Speier, Jackie, Calif., E387 Cohen, Steve, Tenn., E389 Kissell, Larry, N.C., E387 Woolsey, Lynn C., Calif., E391 Critz, Mark S., Pa., E387, E395 Lamborn, Doug, Colo., E396

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