S3470 CONGRESSIONAL RECORD — SENATE May 26, 2021 The Democrats had already decided hodgepodge of stuff—stuff like electric (2) the people of the United States will to run up the American people’s credit cars and welfare programs. This is $7 never be fully protected against the COVID– cards no matter what. Their first pur- trillion of mediocre socialism and lib- 19 pandemic until the pandemic is also chase was a $1.9 trillion excuse for a eral social engineering. No serious ex- brought under control through vaccination around the world; COVID bill that the Democrats pert thinks this is what our economy (3) the release of Special Drawing Rights rammed through on a party-line vote. actually needs. No wonder Larry Sum- by the International Monetary Fund, as was Even liberal economists and even mers says he is concerned that these done after the 2008 global economic crisis, is former advisers to Presidents Clinton proposals are ‘‘substantially excessive a no-cost way to help poorer countries pro- and Obama cautioned that the Demo- . way overdoing the requisite re- cure COVID–19 vaccines and protect against crats’ bill was way larger than the re- sponse.’’ the instability caused by a severe economic maining hole in our economy, badly The sooner this administration can downturn; tailored, and might well cause infla- get the memo, the more bipartisan (4) helping protect against another global economic meltdown by releasing Special tion. progress we will be able to make, and Drawing Rights is also a way to help protect So everyone, from Republicans to lib- the better off working families will be. United States export jobs at home, and why eral economists, warned that the f the move is supported by leaders of United Democrats’ bad bill could easily cause States businesses and labor organizations; CONCLUSION OF MORNING inflation that would hurt ordinary and BUSINESS American families. Well, look where we (5) any allocations of Special Drawing are today. Where are we today? We just The PRESIDING OFFICER. Morning Rights approved by the International Mone- got the most dramatic monthly infla- business is closed. tary Fund to help with the purchase of COVID–19 vaccines and stem the worst eco- tion report in over a decade. Ask any f nomic impact of the pandemic should in- working family about gas prices, food LEGISLATIVE SESSION clude ongoing efforts to discourage countries prices, home prices, lumber prices, that are allies of the United States from ex- used car prices. One survey just found --- changing Special Drawing Rights for hard that more than 80 percent of American ENDLESS FRONTIER ACT—Resumed currencies with rogue countries and follow- families are literally tightening their up by the International Monetary Fund to The PRESIDING OFFICER. Under audit how such allocations were spent. household budgets because of the the previous order, the Senate will re- threat of inflation. sume consideration of S. 1260, which The senior assistant legislative clerk Yet the problem with the Democrats’ the clerk will report. read as follows: product wasn’t just how much credit The senior assistant legislative clerk and borrowed money it flooded into the The Senator from Louisiana [Mr. KENNEDY] read as follows: proposes an amendment numbered 1710 to economy; the problem was also how lit- A bill (S. 1260) to establish a new Direc- amendment No. 1502. tle of substance American families got torate for Technology and Innovation in the for the money. Larry Summers, former National Science Foundation, to establish a The amendment is as follows: President Clinton’s Treasury Sec- regional technology hub program, to require AMENDMENT NO. 1710 retary, put it this way—and this is the a strategy and report on economic security, Larry Summers who also had a role in science, research, innovation, manufac- (Purpose: To prohibit allocations of Special turing, and job creation, to establish a crit- Drawing Rights at the International Mone- the Obama administration. tary Fund for perpetrators of genocide and Here is what he said: ical supply chain resiliency program, and for other purposes. state sponsors of terrorism without con- What’s striking about [that bill, the gressional authorization) COVID bill] is that all of the trillions of dol- Pending: lars—all of it—does not include a penny di- Schumer amendment No. 1502, in the na- At the end of title III of division C, add the rected at ‘‘building back better.’’ ture of a substitute. following: He continued: Cantwell amendment No. 1527 (to amend- SEC. 3314. PROHIBITION ON ALLOCATIONS OF ment No. 1502), of a perfecting nature. SPECIAL DRAWING RIGHTS AT It transfers to state and local governments AMENDMENT NOS. 2014, 1710 AND 1911 TO INTERNATIONAL MONETARY FUND that don’t have any new budget problem. FOR PERPETRATORS OF GENOCIDE AMENDMENT NO. 1502 It’s paying people who have been unem- AND STATE SPONSORS OF TER- ployed more in unemployment insurance The PRESIDING OFFICER. Under RORISM WITHOUT CONGRESSIONAL than they earned when they were working. the previous order, the following AUTHORIZATION. It’s giving checks to families in the 90th per- amendments will be called up and re- Section 6(b) of the Special Drawing Rights centile of income distribution. ported by number. Act (22 U.S.C. 286q(b)) is amended by adding That is from Larry Summers. He is a The senior assistant legislative clerk at the end the following: Democrat. He is a friend of the admin- read as follows: ‘‘(3) Unless Congress by law authorizes istration’s. The Senator from Illinois [Mr. DURBIN] such action, neither the President nor any The Democrats’ hard-left turn has al- proposes an amendment numbered 2014 to person or agency shall on behalf of the ready hurt our economy, but they still amendment No. 1502. United States vote to allocate Special Draw- The amendment is as follows: ing Rights under article XVIII, sections 2 seem to think that this massive bill and 3, of the Articles of Agreement of the should only actually just be the appe- AMENDMENT NO. 2014 Fund to a member country of the Fund, if tizer. The administration has proposed (Purpose: To express the sense of the Senate the government of the member country has— a total of about $7 trillion of spending on the allocation of Special Drawing ‘‘(A) committed genocide at any time dur- in its first few months in office. That Rights by the International Monetary ing the 10-year period ending with the date absurdly overpriced COVID package Fund to help other countries procure of the vote; or would actually be the cheapest of the COVID–19 vaccines and protect against the ‘‘(B) been determined by the Secretary of three massive bills the Democrats ac- economic instability caused by the COVID– State, as of the date of the enactment of the 19 pandemic) Strategic Competition Act of 2021, to have tually want to pass. repeatedly provided support for acts of inter- For some perspective, about $7 tril- At the end of subtitle A of title II of divi- sion C, add the following: national terrorism, for purposes of— lion is considerably more money in in- ‘‘(i) section 1754(c)(1)(A)(i) of the Export flation-adjusted terms than America SEC. 3219L. SENSE OF SENATE ON ALLOCATION OF SPECIAL DRAWING RIGHTS BY Control Reform Act of 2018 (50 U.S.C. spent in fighting and winning World INTERNATIONAL MONETARY FUND 4813(c)(1)(A)(i)); War II. The Biden administration RELATING TO COVID–19 PANDEMIC. ‘‘(ii) section 620A of the Foreign Assistance wants to tax, borrow, and print more It is the sense of the Senate that— Act of 1961 (22 U.S.C. 2371); money than America spent on World (1) it is in the strategic interests of the ‘‘(iii) section 40(d) of the Arms Export Con- United States to help ensure that COVID–19 trol Act (22 U.S.C. 2780(d)); or War II to finance a grab bag of mis- ‘‘(iv) any other provision of law.’’. cellaneous liberal programs that would vaccines are available to other countries, particularly poorer countries with limited The Senator from Alaska [Mr. SULLIVAN] further jack up prices on the things resources, not only as a timely live-saving families actually need to buy. It took proposes an amendment numbered 1911 to and humanitarian measure, but also as the amendment No. 1502. less money to win a global war than best way to protect hard-fought gains made these Democrats want to spend on a against the pandemic in the United States; The amendment is as follows: VerDate Sep 11 2014 07:03 May 27, 2021 Jkt 019060 PO 00000 Frm 00004 Fmt 0637 Sfmt 0634 E:\CR\FM\G26MY6.005 S26MYPT1 dlhill on DSK120RN23PROD with SENATE May 26, 2021 CONGRESSIONAL RECORD — SENATE S3471 AMENDMENT NO. 1911 vate practice, and then got involved in like moment, he said: Politics be (Purpose: To require institutions of higher Republican politics in Virginia at that damned. We are going to do what is education to submit attestations on free- point. right for Virginia. dom of speech) I think Senator KAINE will probably The truth was, we ended up fixing At the end of title V of division B, add the speak to this. Being involved in Repub- that challenge, and Virginia got named following: lican politics in the late fifties and the best managed State and the best SEC. 2528. FEDERAL REQUIREMENTS FOR early sixties was the progressive party State for business, and we made record AWARD. in Virginia. investments in education. I am not (a) IN GENERAL.—Consistent with the First He ended up serving President Nixon Amendment to the Constitution for public sure we would have gotten there if institutions, and in compliance with stated as Secretary of the Navy, and he was John Warner had not been willing to institutional policies regarding freedom of the head of the Bicentennial.