Tip:
Highlight text to annotate it
X
THE NAYS ARE 35.
THE MERKLEY AMENDMENT NUMBER
1884 IS AGREED TO.
UNDER THE
PREVIOUS ORDER, THE MOTION IS
RECONSIDERED -- IS CONSIDERED
MADE AND LAID UPON THE TABLE.
THE CLERK WILL READ THE TITLE OF
THE BILL FOR THE THIRD TIME.
CALENDAR NUMBER 334,
H.R. 3606, AN ACT TO INCREASE
AMERICAN JOB CREATION, MICK
GROWTH BY IMPROVING ACCESS TO
THE PUBLIC CAPITALS MARKETS FOR
EMERGING GROWTH COMPANIES.
MAY WE
HAVE ORDER, PLEASE.
SENATORS, MAY WE HAVE ORDER,
PLEASE.
UNDER THE PREVIOUS ORDER, THERE
WILL NOW BE TWO MINUTES OF
DEBATE EQUALLY DIVIDED PRIOR TO
A VOTE ON PASSAGE OF H.R. 3606,
AS AMENDED.
THE SENATOR FROM RHODE ISLAND.
AND MAY WE HAVE -- PLEASE TAKE
YOUR CONVERSATIONS OUT.
THE SENATOR FROM RHODE ISLAND.
MADAM PRESIDENT, THE
HOUSE LEGISLATION HAS SOME VERY
PROMISING CONCEPTS PROVIDING
ACCESS TO CAPITAL.
ORDER.
THE
SENATE IS NOT IN ORDER.
SENATORS, PLEASE TAKE YOUR
CONVERSATIONS OUT OF THE SENATE
SENATE.
THE SENATOR FROM RHODE ISLAND.
MADAM PRESIDENT.
THE HOUSE BILL HAS SOME
PROMISING CONCEPTS AND WHAT IT
FAILS TO DO IS ADEQUATELY
PROTECT INVESTORS.
WE HAVE TRIED, THROUGH OUR
INVESTORS.
THAT ALTERNATIVE HAS BEEN
THE SENATE.
WE HAVE MADE SOME IMPROVEMENTS
WITH THE MERKLEY PROPOSAL BUT
WE'RE NOT QUITE TO THE POINT YET
WHERE I THINK WE CAN BE
PROTECTED.
AND AS SUCH, I THINK WE SHOULD
VOTE AGAINST THIS LEGISLATION,
THAT WE SHOULD, IN FACT, TRY
AGAIN AND GET IT RIGHT.
THAT IS WHY THE HEAD OF THE
SECURITIES AND EXCHANGE
COMMISSION OPPOSES IT, THE
FORMER HEAD OF THE SECURITIES
AND EXCHANGE COMMISSION OPPOSES
IT, THE FORMER CHIEF ACCOUNTANT
FOR THE SECURITIES AND EXCHANGE
COMMISSION, THE INSTITUTIONAL
INVESTORS OPPOSE IT.
WE ARE OPENING UP VAST LOOPHOLES
WITHOUT DISCLOSURE, ADEQUATE
DISCLOSURE TO INVESTORS.
I THINK WE WILL REGRET THIS
VOTE.
A SENATOR: MADAM PRESIDENT?
THE
SENATOR FROM PENNSYLVANIA.
I COULD CLAIM THE TIME IN
SUPPORT OF THIS LEGISLATION.
I WOULD JUST SUGGEST,
MADAM PRESIDENT, THAT WE'RE ON
THE VERGE OF DOING SOMETHING
VERY, VERY CONSTRUCTIVE FOR OUR
AND FOR JOB GROWTH AND IT MIGHT
BE ONE OF THE MOST CONSTRUCTIVE
THINGS WE'RE GOING TO DO THIS
YEAR IN THAT AREA.
THIS LEGISLATION MAKES IT EASIER
AND MORE AFFORDABLE FOR YOUNG
AND GROWING COMPANIES TO GO
PUBLIC, TO RAISE THE CAPITAL
THEY NEED TO GROW, TO HIRE MORE
WORKERS.
IT ALSO ACTUAL MAKES IT EASIER
FOR THOSE THAT WANT --
IT ALSO ACTUALLY MAKES IT EASIER
FOR THOSE THAT WANT TO REMAIN
PRIVATE AND TO ATTRACT MORE
INVESTORS AND TO DO SO WITHOUT
TRIGGERING THE VERY OWN EXPRUS
EXPENSIVE REGULATIONS -- ONEROUS
AND EXPENSIVE REGULATIONS THAT
EAND TO BEING A PUBLIC -- ATTEND
TO BEING A PUBLIC COMPANY.
THIS IS GOING TO CREATE MORE
JOBS, MORE GROWTH IN THE
THAT'S WHY IT PASSED THE HOUSE
WITH A VOTE OF 329-936789 THAT'S
WHY THE PRESIDENT OF THE UNITED
STATES HAS ENDORSED THIS BILL
LAW.
THAT'S WHY THERE ARE DOZENS AND
DOZENS AND DOZENS OF
ORGANIZATIONS AND GROUPS AND
COMPANIES AND TRADE ASSOCIATIONS
WHO SUPPORT THIS LEGISLATION, SO
THAT WE CAN DO SOMETHING RIGHT
HERE, RIGHT NOW, TODAY THAT THE
PRESIDENT WILL SIGN INTO LAW
WHICH WILL HELP SMALL AND
GROWING COMPANIES RAISE THE
CAPITAL THEY NEED TO GROW.
AND I URGE MY COLLEAGUES TO VOTE
THE
QUESTION IS ON THE PASSAGE OF
THE BILL, AS AMENDED.
THE YEAS AND NAYS HAVE BEEN
ASKED FOR.
THERE APPEARS TO BE.
THERE IS.
THE CLERK WILL ASK FOR THE YEAS
AND NAYS -- WILL CALL THE ROLL.
VOTE:
VOTE:
IS
THERE ANYONE IN THE CHAMBER WHO
HASN'T VOTED WHO WISHES TO
CHANGE THEIR VOTE?
ON THIS ROLL CALL, H.R. 3606, AS
AMENDED, 73 AYES AND 26 NOES.
THE PROVISION IS PASSED.
UNDER THE PREVIOUS ORDER, THE
MOTION TO RECONSIDER IS
TABLE.
UNDER THE PREVIOUS ORDER, THE
TO THE MOTION TO AGREE TO THE
HOUSE AMENDMENT TO THE SENATE
REPORT.
MOTION TO CONCUR ON
THE HOUSE AMENDMENT TO S. 2038,
AN ACT TO PROHIBIT MEMBERS OF
CONGRESS TO USE NONEMPLOYEE
INFORMATION DERIVED FROM THEIR
POSITIONS FOR THEIR BENEFIT AND
FOR OTHER PURPOSES.
THERE
WILL BE ORDER IN THE SENATE.
TAKE YOUR CONVERSATIONS OUT OF
THE WELL.
UNDER THE PREVIOUS ORDER, THERE
WILL BE FOUR MINUTES OF DEBATE
FORM.
MADAM PRESIDENT?
THE
SENATOR FROM CONNECTICUT.
MADAM PRESIDENT, I THANK THE
CHAIR.
I URGE MY COLLEAGUES ON BOTH
SIDES OF THE AISLE TO SUPPORT
THIS BIPARTISAN, NOW BICAMERAL
CONGRESSIONAL ETHICS MEASURE.
THIS STARTED OUT AS A RESPONSE
TO A STORY AND ALLEGATIONS THAT
MEMBERS OF CONGRESS WOULD NOT BE
HELD LIABLE FOR INSIDER TRADING.
IT THEN DEVELOPED INTO WHAT I
THINK IS THE MOST SIGNIFICANT
CONGRESSIONAL ETHICS LEGISLATION
THAT WE'VE ADOPTED IN AT LEAST
FIVE YEARS, CONTAINING A LOT OF
OTHER PUBLIC DISCLOSURE AND
GOOD-GOVERNMENT MEASURES.
I WANT TO GIVE PARTICULAR THANKS
TO SENATOR KIRSTEN GILLIBRAND
AND SCOTT BROWN, WHO LED THE
EFFORT, TOOK THE INITIATIVE THAT
GOT THIS GOOD BALL ROLLING.
AND I WOULD YIELD THE REST OF MY
TIME TO SENATOR GILLIBRAND.
THANK YOU,
SENATOR LIEBERMAN.
WE SHALL TAKING A SIGNIFICANT
STEP FORWARD TODAY ON BEHALF OF
THE AMERICAN PEOPLE TO RESTORING
SOME FAITH THAT OUR COUNTRY HAS
IN THEIR GOVERNMENT.
I WANT TO THANK LEADER REID,
SENATOR BROWN AND ALL OF OUR
COLLEAGUES HERE ON BOTH SIDES OF
THE AISLE WHO WORKED SO HARD TO
PASS THIS LEGISLATION.
I ALSO WANT TO THANK MY
COLLEAGUE FROM NEW YORK,
CONGRESS WOMAN LOUISE SLAUGHTER
WHO FOUGHT SO HARD AND LONG
TOWARDS THIS EFFORT.
THIS LEGISLATION WAS A RARE
INSTANCE WHERE 96 SENATORS CAME
TOGETHER TO DELIVER RESULTS FOR
WE PASSED A STRONG BILL WITH
TEETH THAT WILL CLEARLY AND
EXPRESSLY MAKE IT ILLEGAL FOR
MEMBERS OF CONGRESS, THEIR STAFF
AND THEIR FAMILIES TO GAIN
PERSONAL PROFITS FROM NONPUBLIC
SERVICE.
I STRONGLY BELIEVE THAT WE HAVE
TO MAKE IT CLEAR THAT NO ONE IS
ABOVE THE LAW AND THAT MEMBERS
OF CONGRESS NEED TO PLAY BY THE
EXACT SAME RULES AS EVERY OTHER
AMERICAN.
IT'S SIMPLY THE RIGHT THING TO
THIS IS A COMMONSENSE BILL, AND
AMERICANS CAN BE ASSURED THAT
OUR ONLY INTEREST IS IN THEIR
INTEREST.
WHEN PRESIDENT OBAMA SIGNS THE
STOCK ACT, WE WILL HAVE BEGUN TO
RESTORE SOME OF THE PUBLIC'S
FAITH IN WASHINGTON.
THE
SENATOR'S TIME HAS EXPIRED.
MADAM PRESIDENT?
THE
SENATOR FROM MAINE.
MADAM PRESIDENT.
I WOULD ASK TO BE NOTIFIED AFTER
ONE MINUTE.
THE
SENATOR WILL BE NOTIFIED.
MADAM PRESIDENT.
MADAM PRESIDENT, LET ME BEGIN BY
COMMENDING SENATOR SCOTT BROWN,
SENATOR LIEBERMAN, AND SENATOR
GILLIBRAND FOR THEIR LEADERSHIP
ON THIS BILL.
I WANT TO POINT OUT THAT MY
COLLEAGUE FROM MASSACHUSETTS
INTRODUCED THE FIRST BILL ON
THIS TOPIC IN THE SENATE.
THE STOCK ACT IS INTENDED TO
AFFIRM THAT MEMBERS OF CONGRESS
ARE NOT EXEMPT FROM OUR LAWS AND
TRADING.
IT IS IMPORTANT TO SEND A VERY
CLEAR MESSAGE THAT MEMBERS OF
CONGRESS ARE NOT EXEMPT FROM
THESE LAWS AND THAT IS EXACTLY
WHAT THIS BILL DOES.
AT A TIME WHEN PUBLIC CONFIDENCE
IN CONGRESS IS AT AN ALL-TIME
MESSAGE THAT --
THE
SENATOR HAS CONSUMED ONE MINUTE.
-- THAT ELECTIVE
OFFICE IS A PLACE FOR PUBLIC
SERVICE AND NOT PRIVATE GAIN.
I YIELD THE REMAINDER OF MY TIME
TO SENATOR SCOTT BROWN.
SENATOR FROM MASSACHUSETTS.
MADAM PRESIDENT,
THANK YOU.
TODAY WE PUT AMERICA FIRST AND
WE PASSED A BIPARTISAN NOW
BICAMERAL BILL THE PRESIDENT
WILL SIGN AND WE TOOK A STEP
TRUST.
I WANT TO THANK SENATOR COLLINS
AND SENATOR LIEBERMAN FOR
MARKING THIS UP SO QUICKLY.
TODAY IS A GOOD DAY.
THE
SENATE WILL BE IN ORDER.
THANK YOU.
THE STOCK ACT WILL AFFIRM THAT
MEMBERS OF CONGRESS ARE NOT
ABOVE THE LAW.
IT WILL INCREASE TRANSPARENCY BY
REQUIRING MEMBERS OF CONGRESS
AND HIGHLY COMPENSATED FEDERAL
EMPLOYEES TO DISCLOSE ALL THEIR
TRADING ACTIVITY WITHIN 45 DAYS.
TODAY AMERICA IS A GOVERNMENT
FOR THE PEOPLE, BY THE PEOPLE
AND FOR THE PEOPLE.
THAT MEANS OUR ELECTED OFFICIALS
MUST FOLLOW THE SAME LAWS AS
WE HAVE TAKEN A STEP TOWARDS
REESTABLISHING TRUST, AND TODAY
WE ARE ONE STEP CLOSER TO MAKING
EVERY SEAT THE PEOPLE'S SEAT.
THANK YOU, AND I ENCOURAGE
PASSAGE.
AND I YIELD THE FLOOR.
THE
CLERK WILL REPORT THE MOTION TO
INVOKE CLOTURE.
CLOTURE MOTION.
WE THE UNDERSIGNED SENATORS IN
ACCORDANCE WITH THE PROVISIONS
OF RULE 22 OF THE STANDING RULES
OF THE SENATE HEREBY MOVE TO
BRING TO A CLOSE THE DEBATE ON
THE REID MOTION TO CONCUR ON THE
HOUSE AMENDMENT TO 2038, THE
STOP TRADING ON CONGRESSIONAL
KNOWLEDGE ACT SIGNED BY 22
SENATORS.
UNANIMOUS CONSENT, THE MANDATORY
QUORUM CALL HAS BEEN WAIVED.
THE QUESTION IS: IS IT THE SENSE
OF THE SENATE THAT DEBATE ON THE
MOTION TO CONCUR ON THE HOUSE
AMENDMENT TO SENATE BILL 2038,
AN ACT TO PROHIBIT MEMBERS OF
CONGRESS AND EMPLOYEES OF
CONGRESS FROM USING NONPUBLIC
INFORMATION DERIVED FROM THEIR
OFFICIAL POSITIONS FOR PERSONAL
BENEFIT AND FOR OTHER PURPOSES
SHALL BE BROUGHT TO A CLOSE?
THE YEAS AND NAYS ARE MANDATORY
UNDER THE RULE.
THE CLERK WILL CALL THE ROLL.
VOTE:
VOTE:
ON THIS
VOTE, THE YEAS ARE 96, THE NAYS
ARE 3.
3/5 OF THE SENATORS HAVING DULY
CHOSEN AND SWORN HAVING VOTED IN
THE AFFIRMATIVE, THE MOTION IS
AGREED TO.
CLOTURE HAVING BEEN REVOKED, THE
MOTION TO REFER CALLS WITH
INCONSISTENT WITH CLOTURE.
BACK.
THE MOTION TO CONCUR IN THE
HOUSE AMENDMENT WITH AMENDMENT
NUMBERED 1940 IS WITHDRAWN, AND
THE MOTION TO CONCUR IN THE
HOUSE AMENDMENT IS AGREED TO.
UNDER THE PREVIOUS ORDER, THE
MOTION TO RECONSIDER IS
CONSIDERED MADE AND LAID UPON
THE TABLE.
UNDER THE PREVIOUS ORDER, THE
SENATE WILL PROCEED TO EXECUTIVE
SESSION TO CONSIDER THE
FOLLOWING NOMINATIONS WHICH THE
CLERK WILL REPORT.
NOMINATIONS, THE
JUDICIARY, DAVID NUFFER OF AUTO
TO BE UNITED STATES DISTRICT
JUDGE FOR THE DISTRICT OF YOUTH.
RONNIE ABRAMS OF NEW YORK TO
BE --
COULD WE HAVE ORDER,
MADAM PRESIDENT.
ORDER IN
THE SENATE.
YORK TO BE UNITED STATES
DISTRICT JUDGE FOR THE SOUTHERN
DISTRICT OF NEW YORK.
RUDOLPH CONTRERAS OF VIRGINIA TO
BE UNITED STATES DISTRICT JUDGE
FOR THE DISTRICT OF COLUMBIA.
UNDER THE
PREVIOUS ORDER, THERE WILL BE
TWO MINUTES OF DEBATE EQUALLY
DIVIDED IN THE USUAL FORM.
THE SENATOR FROM VERMONT.
MADAM PRESIDENT, I
ASK CONSENT AND I WOULD NOTE
THIS AS IN MORNING BUSINESS THAT
THE BIPARTISAN VIOLENCE AGAINST
WOMEN ACT REAUTHORIZATION NOW
HAS 61 COSPONSORS, AND I THANK
SENATOR CRAPO FOR HIS LEADERSHIP
AND THE SENATORS ON BOTH PARTIES
WHO CAME TO THE FLOOR LAST WEEK.
THE
SENATE WILL BE IN ORDER.
THE SENATOR FROM VERMONT.
I THANK THOSE
SENATORS, BOTH REPUBLICAN AND
DEMOCRATIC SENATORS WHO CAME TO
THE FLOOR LAST WEEK TO SPEAK
ABOUT THE IMPORTANCE OF
REAUTHORIZING THE VIOLENCE
AGAINST WOMEN ACT.
I ASK MY FULL STATEMENT BE
PLACED IN THE RECORD.
OBJECTION.
I ASK CONSENT TO
INCLUDE IN THE RECORD THE STOCK
ACT, MY STATEMENT EXPRESSING
DISAPPOINTMENT OF THE SENATE,
WITH THE HOUSE VERSION STRIPPED
OUT OF THE BIPARTISAN
ANTICORRUPTION AMENDMENT WITHOUT
A VOTE.
WITHOUT
OBJECTION.
AND MADAM PRESIDENT,
I ASK CONSENT TO PUT IN
STATEMENTS REGARDING THE
JUDICIAL NOMINEES THAT ARE HERE.
WITHOUT
OBJECTION.
AND MADAM PRESIDENT,
I WOULD NOTE ON THIS SIDE AT
LEAST -- I KNOW WE HAVE TO HAVE
A ROLL CALL ON THIS FIRST
NOMINEE.
I HAVE NO OBJECTION IF THERE ARE
VOICE VOTES ON THE NEXT TWO, BUT
THAT WILL BE UP TO OTHERS.
BUT ON THE FIRST ONE, I ASK FOR
THE YEAS AND NAYS ON THE FIRST.
IS THERE
A SUFFICIENT SECOND?
THERE APPEARS TO BE A SUFFICIENT
THE YEAS AND NAYS ARE ORDERED.
WILL CALL -- WHO
YIELDS TIME?
ALL TIME YIELDED BACK, THE YEAS
AND NAYS HAVE BEEN ORDERED.
THE CLERK WILL CALL THE ROLL.
VOTE:
VOTE:
VOTE: