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Congressional Record United States Th of America PROCEEDINGS and DEBATES of the 104 CONGRESS, FIRST SESSION

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Congressional Record United States Th of America PROCEEDINGS and DEBATES of the 104 CONGRESS, FIRST SESSION E PL UR UM IB N U U S Congressional Record United States th of America PROCEEDINGS AND DEBATES OF THE 104 CONGRESS, FIRST SESSION Vol. 141 WASHINGTON, THURSDAY, FEBRUARY 2, 1995 No. 21 The House met at 10 a.m. and was Mr. SANFORD led the Pledge of Alle- Mr. GUTIERREZ. Mr. Speaker, today called to order by the Speaker pro tem- giance as follows: we will begin an important bill that pore [Mr. DREIER]. I pledge allegiance to the Flag of the once again my friends on the other side United States of America, and to the Repub- f of the aisle have almost gotten right. lic for which it stands, one nation under God, Giving the President the line-item veto DESIGNATION OF THE SPEAKER indivisible, with liberty and justice for all. authority is important but again the PRO TEMPORE f bill we are debating today omits an ele- ment critical to making this legisla- The SPEAKER pro tempore laid be- REPUBLICAN CONTRACT WITH tion true and effective. They are more fore the House the following commu- AMERICA nication from the Speaker: than willing to allow the President to (Mr. BOEHNER asked and was given WASHINGTON, DC, eliminate spending, but they seem to February 2, 1995. permission to address the House for 1 be more than a little nervous about al- I hereby designate the Honorable DAVID minute.) lowing the President to eliminate un- DREIER to act as Speaker pro tempore on Mr. BOEHNER. Mr. Speaker, our fair tax giveaways. I want our Presi- this day. Contract With America states the fol- dent to stand against wasteful spend- NEWT GINGRICH, lowing: On the first day of Congress, a ing. But he should also be able to stand Speaker of the House of Representatives. Republican House will: up against unfair tax breaks for the f Force Congress to live under the wealthy and the privileged. same laws as everyone else; cut com- PRAYER mittee staffs by one-third; and cut the If the President can eliminate spend- The Chaplain, Rev. James David congressional budget. ing with the stroke of a pen, let us give Ford, D.D., offered the following pray- We have done that. him the authority to eliminate tax er: It goes on to state that in the first giveaways that cheat working people, drain our treasury, and pile up our debt May the gifts of prayer, O gracious 100 days, we will vote on the following with that very same pen. God, be with us and each person; may items: A balanced budget amendment— the petitions of our hearts find satis- we have done this; unfunded mandates If my colleagues are serious about faction in our lives; may the longings legislation—we have done this; line- this reform, let us make it a serious re- and yearnings of our very being find item veto; a new crime bill to stop vio- form that addresses our serious prob- fulfillment in that peace that You lent criminals; welfare reform to en- lems, not a pretend reform hiding a alone can give; and may the hopes and courage work, not dependence; family huge tax loophole for the powerful and dreams we place before You, O God, reinforcement to crack down on dead- the privileged. allow us to experience reconciliation beat dads and protect our children; tax and grace with You and with our own cuts for families to lift Government’s f destinies. Bless us, O God, this day and burden from middle-income Americans; every day. Amen. national security restoration to pro- tect our freedoms; Senior Citizens’ Eq- REPUBLICANS ARE DELIVERING f uity Act to allow our seniors to work (Mr. FOX of Pennsylvania asked and THE JOURNAL without Government penalty; Govern- was given permission to address the ment regulation and unfunded mandate The SPEAKER pro tempore. The House for 1 minute and to revise and reforms; commonsense legal reform to extend his remarks.) Chair has examined the Journal of the end frivolous lawsuits; and congres- last day’s proceedings and announces sional term limits to make Congress a Mr. FOX of Pennsylvania. Mr. Speak- to the House his approval thereof. citizen legislature. er, I thought you might be interested Pursuant to clause 1, rule I, the Jour- This is our Contract With America. in some voting statistics from the first nal stands approved. month of the 104th Congress. In the f month of January, we had 79 rollcall f COUPLE LINE-ITEM VETO WITH votes. Compare that to last January, PLEDGE OF ALLEGIANCE ELIMINATION OF TAX GIVEAWAYS when we only had 2 rollcall votes, and The SPEAKER pro tempore. Will the (Mr. GUTIERREZ asked and was in January 1992 when we only had 11 gentleman from South Carolina [Mr. given permission to address the House rollcall votes. SANFORD] come forward and lead the for 1 minute and to revise and extend What do these statistics mean? They House in the Pledge of Allegiance. his remarks.) show that the Republican majority is 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. H1075 . VerDate Mar 15 2010 04:55 Oct 27, 2010 Jkt 089060 PO 00000 Frm 00001 Fmt 7634 Sfmt 0634 D:\FIX-CR\1995\H02FE5.REC H02FE5 mmaher on DSKFW6RHC1PROD with CONG-REC-ONLINE H1076 CONGRESSIONAL RECORD — HOUSE February 2, 1995 serious about getting down to work and America. Again, we fulfilled our prom- Today, we take up the line-item veto, passing our Contract With America. We ise with the State and local govern- which will make it more difficult for are committed to working hard to keep ments to lift the financial burden im- Congress to pass wasteful pork-barrel our promise with the American people. posed on them by the Washington bu- spending projects. Congressional accountability, balanced reaucrats. Mr. Speaker, in the last election, the budget amendment, unfunded man- We will continue to deliver change American people said they wanted dates reform—all done. Next up is line- today as we begin debate on the line- change. item veto, crime bill, welfare reform, item veto. This bill is yet another They said they wanted a more effi- national defense bill, middle-class tax mechanism to reduce the size, scope, cient and smaller Government that cuts, term limits. We won’t stop until and cost of the Government. And more cost less, spent less, and did fewer stu- we’re through. importantly, this bill is yet another pid things. If the people want to know if the Re- step toward the completion of the Con- We have heard that message, and in a publicans are delivering, just look at tract With America. bipartisan fashion, we are working what we have accomplished in 1 month. We are working hard. We are keeping hard to make those changes. f our promise. We are changing Govern- I urge my colleagues on the other ment. side of the aisle: Let’s not bicker and RAISING INTEREST RATES PUTS f nitpick. Let’s not unnecessarily slow RECOVERY AT RISK down the process for purely partisan (Mr. HINCHEY asked and was given FED’S ACTION DISSERVICE TO reasons. Instead, let’s give the Amer- permission to address the House for 1 WORKING AMERICANS ican people the kind of Government minute.) (Mr. MILLER of California asked and they really want. Let us work together Mr. HINCHEY. Mr. Speaker, yester- was given permission to address the to complete the Contract With Amer- day, for the seventh time in the last 12 House for 1 minute and to revise and ica. months, the Federal Reserve—meeting extend his remarks.) f in a closed-door session—raised the in- Mr. MILLER of California. Mr. INTRODUCTION OF LEGISLATION terest rates and gambled on the eco- Speaker, the Federal Reserve Board nomic future of the middle-class Amer- TO AUDIT OPERATIONS OF THE yesterday did a terrible disservice to FEDERAL RESERVE SYSTEM ican. working Americans when for the sev- Over the past year, the Federal Re- enth time in a year it raised interest (Mr. VOLKMER asked and was given serve has acted out of fear of a phan- rates. permission to address the House for 1 tom inflation that does not exist. American homeowners will now get minute and to revise and extend his re- The constituents of my district, and $15 billion of additional mortgage costs marks.) the working families of this Nation, charged against them because of this Mr. VOLKMER. Mr. Speaker, I rise are struggling to be a part of the eco- increase. Half of the homeowners in to inform my colleagues of legislation nomic recovery. America will get an envelope shortly that I am introducing to audit the op- Inflation is at a 30-year low, but from their lending institution telling erations of the Federal Reserve Sys- working Americans will now suffer them that their monthly mortgage tem, including the Reserve Board, the under an interest rate double that of rate has gone up because of these ac- Advisory Council, the Open Market the same time last year. tions by the Federal Reserve. Those Committee, and the Reserve banks. Over the past year, there has been no people shopping for a car this weekend Mr. Speaker, yesterday, the Federal significant increase in salaries or buy- will find the cost of financing that Reserve again raised short-term inter- ing power, but now the Fed is depriving automobile has gone up because of the est rates.
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