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SOME AND SUPPORTING OTHERS.
THE GENTLEMAN FROM DELAWARE AND
I WILL BE OFFERING A MANAGER'S
AMENDMENT WHICH WILL MAKE
TECHNICAL IMPROVEMENTS TO THE
I LOOK FORWARD TO A LIVELY
DEBATE HERE IN THIS CHAME
PERFECT AND I SUPPORT THE RULE
WITH THAT I YIELD BACK.
THE
GENTLEMAN YIELDS BACK.
THE GENTLEMAN FROM COLORADO.
SPEAKER.
I YIELD FOUR MINUTES TO THE
GENTLEMAN FROM MASSACHUSETTS,
THE RANKING MEMBER OF THE
FINANCIAL SERVICES COMMITTEE,
MR. FRANK.
THE
GENTLEMAN FROM MASSACHUSETTS IS
RECOGNIZED FOR FOUR MINUTES.
MR. SPEAKER, THIS IS
A PERFECTLY NICE BILL, BUT
THINGS ARE SOMETIMES JUDGED IN
COMPARISON.
IT IS BEING HAILED AS A BIGGER
BILL THAN IT IS, BUT THAT'S WHAT
HAPPENS WHEN YOU GRADE ON A
CURVE AS WE GRADE ON A CURVE.
ONE OF THE GREAT PHILOSOPHERS OF
THE 20TH CENTURY WAS A MAN NAMED
HENRY YOUNGMAN.
-- HENNE YOUNGMAN.
ONE OF HIS THOUGHTS OF WISDOM
WAS EXPRESSED IN THE QUESTION
AND ANSWER, HOW'S YOUR WIFE.
COMPARED TO WHAT?
COMPARED TO THE OUTPUT OF THIS
HOUSE SO FAR, THIS IS A VERY,
VERY, VERY MAJOR BILL.
COMPARED TO OUR ECONOMY IN
GENERAL, IT'S A GOOD BILL BUT OF
NO IMMEDIATE SIGNIFICANCE IN
TERMS OF JOBS.
AND USEFUL FOR THE FUTURE.
SAID I THINK IT'S
IMPORTANT IT'S GETTING PUMPED UP
A LITTLE BIT SO WE CAN AVOID
HERE AS A COLLECTIVE BODY THE
CHARGE THAT WE HAVEN'T DONE
ANYTHING.
I DO HAVE ONE CRITICISM OF THE
RULE AND I HAVE EXPRESSED THIS
HOPE YESTERDAY.
I WAS FRUSTRATED.
A NUMBER OF AMENDMENTS WERE MADE
IN ORDER AND I APPRECIATE THAT,
BUT EVERY SINGLE AMENDMENT IS
DEBATED FOR ONLY 10 MINUTES.
THAT'S UNWORTHY OF A
THERE ARE IMPORTANT QUESTIONS
HERE THAT ARE INVOLVED IN THESE
ISSUES.
IF YOU THINK THESE BILLS ARE
IMPORTANT, THEN THE AMENDMENTS
TO THEM ARE IMPORTANT.
NOW, THAT'S WITHIN THE CONTEXT
OF SUPPORT.
IN MOST CASES WE ARE TALKING
ABOUT PEOPLE WHO SUPPORT THE
CONCEPT BUT HAVE SOME DIFFERENCE
ABOUTS WHAT SHOULD BE THERE.
BUT TO SAY EVERY AMENDMENT GETS
DEBATED FOR ONLY 10 MINUTES,
FIVE MINUTES ON EACH SIDE, IS TO
DENIGRATE THE DELIBERATIVE
FUNCTION TO A POINT WHICH IS OF
GREAT CONCERN TO ME.
IT'S NOT AS IF WE HAVE BEEN SO
BUSY THAT WE COULDN'T CARVE OUT
TIME FOR 20 MINUTES OR EVEN A
HALF-HOUR OF DEBATE.
SO I REGRET THE DUMBING DOWN OF
THE HOUSE WHICH IS REPRESENTED
BY SAYING THAT NO ISSUE WOULD BE
DEBATED FOR MORE THAN 10
MINUTES.
ONE OTHER QUESTION OF A
PROCEDURAL SORT, THE RANKING
MEMBER OF THE FINANCIAL SERVICES
COMMITTEE, ONE OF THE BILLS IN
HERE, MOST OF THESE BILLS HAVE
BEEN THROUGH THE COMMITTEE, SIX
BILLS, FOUR PASSED THE HOUSE,
TWO BILLS I WAS TOLD WERE FROM
THE COMMITTEE, BUT ONE OF THE
BILLS, H.R. 4088, IT'S GOT A NEW
SPONSOR, THE GENTLEMAN FROM
NEVER SEEN THAT IN OUR
I CHECKED.
THAT BILL WAS INTRODUCED
FEBRUARY 24 OR SOMETHING.
IT'S NEVER HAD A HEARING.
IT'S NEVER BEEN THROUGH
SO WHY ARE WE GETTING A BILL ON
THE FLOOR NOW THAT HAS NEVER
BEEN SEEN IN OUR COMMITTEE?
I WOULD YIELD TO THE GENTLEMAN
FROM THE RULES COMMITTEE.
RECOGNITION --
I THOUGHT --
THE GENTLEMAN FROM
ARIZONA HAS A GOOD BILL AND I
ENCOURAGE YOU TO READ IT.
I HAVE READ THE BILL,
TOLD THAT WE ARE GOING
TO IN A PARTY THAT SAYS -- VOTED
FOR REGULAR ORDER BRING OUT A
BILL, 4088 HAS HAD NO COMMITTEE
CONSIDERATION WHATSOEVER.
THE OTHER BILLS HAVE.
THE OTHER FIVE.
BUT IT'S NEVER BEEN BROUGHT UP
IN A HEARING, IT'S NEVER BEEN IN
SUBCOMMITTEE, IT'S NEVER BEEN IN
COMMITTEE.
AND THE NOTION THAT IT'S A GOOD
BILL AND THEREFORE SHOULD BE
IMMUNE FROM ANY COMMITTEE
PROCESS IS VERY DISCOURAGING.
THIS IS A BILL THAT'S ONLY BEEN
IN EXISTENCE FOR A COUPLE WEEKS.
AND THE GENTLEMAN SAYS WELL,
IT'S A GOOD BILL, READ IT.
THEN I GUESS WE DON'T NEED THE
COMMITTEE.
WE DON'T NEED TO DO ANYTHING.
BUT THE PROCESS IS SUPPOSED TO
BE ONE WHERE THESE THINGS GO
THROUGH SOME VETTING.
SO I AM DISAPPOINTED THAT WE
HAVE A RULE THAT BRINGS A BILL
TO THE FLOOR THAT LITERALLY HAS
HAD NO COMMITTEE CONSIDERATION
WHATSOEVER, BRAND NEW BILL,
APPARENTLY, BECAUSE GOT A BRAND
NEW SPONSOR.
WE HAVE SEEN NOTHING LIKE THIS.
BUT I HAVE SEEN NO BILL FROM THE
QUAIL.
QUAYLE.
HAVE SEEN NO BILL LIKE 4088
HASN'T HAD A HEARING, HASN'T
BEEN THROUGH COMMITTEE.
AND AT THE SAME TIME THE RULES
COMMITTEE THINKS YOU CAN TAKE
ALL THESE INTERESTING QUESTIONS.
SHOULD THERE OR SHOULDN'T THERE
BE AN EXEMPTION?
AND DEBATE THEM ALL IN ONLY 10
MINUTES, FIVE MINUTES ON A SIDE.
THAT HARDLY SERVES AS A
DELIBERATIVE PROCESS.
THE
GENTLEMAN IS RECOGNIZED FOR 30
SECONDS.
I SAY SOME MEMBERS
THINK THE BILLS MAY HAVE MORE
IMPACT THAN I DO.
I HOPE I'M WRONG.
BUT IF YOU REALLY BELIEVE THE
BILLS ARE THIS IMPORTANT, WHY,
THEN, IS A DEBATE ONLY FOR 10
MINUTES ON EVERY SINGLE
AMENDMENT?
ON THE SIZE, ON THE REPORTING
REQUIREMENTS.
WE HAVE AMENDMENTS THAT HAVE
BEEN REQUESTED BY THE NORTH
AMERICAN SECURITIES
ADMINISTRATION, THE STATE
REGULATORS.
FIVE MINUTES ON THE SIDE.
THAT IS HARDLY A MARK OF PEOPLE
WHO TAKE THE DELIBERATIVE
PROCESS IN THE U.S. HOUSE OF
REPRESENTATIVES VERY SERIOUSLY.
I THANK THE GENTLEMAN FROM
COLORADO.
THE
GENTLEMAN'S TIME HAS EXPIRED.
THE GENTLEMAN FROM COLORADO
THE GENTLEMAN FROM TEXAS.
YOU VERY MUCH.
JUST SO YOU KNOW THE GENTLEMAN
IS CORRECT.
AND I APPRECIATE HIS VIEWPOINT
OF THIS.
THIS IS A COPY OF MR. QUAYLE'S
BILL RIGHT HERE.
IT'S ABOUT 1/3 OF A PAGE LONG.
AND IT'S A GOOD IDEA THAT SAYS
WE ARE GOING TO INCREASE THE
NUMBER OF PEOPLE WHO CAN INVEST
IN COMMUNITY BANK.
I HOPE THAT SHOULD NOT REQUIRE
US TO HAVE TO GO BACK AND DO TOO
MUCH THINKING ABOUT HOW GREAT
THIS WOULD BE.
WE ARE TRYING TO PERFECT INSTEAD
OF BY JUST HAVING AN AMENDMENT
TO ALLOW OUR MEMBERS TO TAKE
PART IN THESE THINGS WITH THEIR
GOOD IDEAS.
I DO TAKE THAT WHAT THE
GENTLEMAN SAID IS CORRECT, BUT
GOOD IDEAS ARE A PART OF THIS
BILL AND THAT SHOULD BE WHAT WE
ARE ABOUT HERE ON THE FLOOR JUST
AS THE AMENDMENT THAT MAY NOT
HAVE GONE THROUGH --
WOULD THE GENTLEMAN
YIELD?
I WISH I COULD.
I'M OUT OF TIME.
-I A APPRECIATE THE GENTLEMAN.
HE'LL HAVE PLENTY OF TIME.
AT THIS TIME, MR. SPEAKER, I'D
LIKE TO YIELD FOUR MINUTES TO
THE GENTLEMAN FROM NORTH
CAROLINA, MR. MCHENRY.
THE
RECOGNIZED FOR FOUR MINUTES.
SPEAKER.
I WANT TO THANK MY COLLEAGUE,
MR. SESSIONS, FOR HIS LEADERSHIP
ON THE RULES COMMITTEE AND
OTHERWISE IN THIS HOUSE.
I ALSO WANT TO COMMEND MR.
FINCHER FROM TENNESSEE FOR
OFFERING THIS LEGISLATION, VERY
IMPORTANT BILL.
MR. SPEAKER, I RISE TODAY TO
SUPPORT AND SPEAK IN FAVOR OF
THE JOBS ACT.
WHAT THIS LEGISLATION DOES IS
ADDRESS A KEY CONCERN THAT I
HEAR FROM MY CONSTITUENTS IN
WESTERN NORTH CAROLINA.
WE KNOW THAT ENTREPRENEURSHIP
HERE IN THE UNITED STATES IS AT
A 17-YEAR LOW.
WE ALSO REALIZE THAT THE REST OF
THE WORLD HAS CAUGHT UP TO US IN
TERMS OF THEIR CAPITAL MARKETS
AND BUSINESS FORMATION.
WE ALSO KNOW THAT SMALL
BUSINESSES CREATE THE MAJORITY
OF NEW JOBS IN THE UNITED
STATES.
SO IT'S VERY IMPORTANT FOR US IN
LIGHT OF THE NEW REGULATORY
CHANGES THAT HAVE HAPPENED IN
YEARS HERE IN
WASHINGTON, THE ADD VEND OF
DODD-FRANK THAT INCREASES THE
COST OF LENDING AND MAKES IT
LESS AVAILABLE FOR SMALL
THE CARD ACT THAT MAKES CREDIT
CARDS LESS AVAILABLE TO THE
AVERAGE PERSON AND TRIES TO
START UP THEIR BUSINESS LIKE MY
FATHER DID ON HIS CREDIT CARD.
WE ALSO REALIZE THAT THE
REGULATORY CHANGES, THE MORE
HIGHER RED TAPE THAT WE HAVE
HERE IN WASHINGTON, MAKES IT
MORE EXPENSIVE TO DO BUSINESS
THESE ARE MAJOR CONCERNS.
THESE ARE MAJOR CONCERNS FROM MY
CONSTITUENTS IN WESTERN NORTH
AND I WANT TO COMMEND MR.
FINCHER FOR OFFERING THE JOBS
WE'VE GOT SOME VERY IMPORTANT
PIECES OF INFORMATION AND POLICY
CHANGES IN THIS BILL.
IF YOU LOOK AT THE 1990'S, WE
HAD 530 I.P.O.'S ON AVERAGE
EVERY YEAR.
WE HAD FEWER THAN 65 IN THE YEAR
OF 2009.
WE REALIZE THAT GOING PUBLIC IS
EVERY
THOUGH THE DREAM OF MANY SMALL
BUSINESS FOLKS.
IMPORTANT COMPONENT OF THE JOBS
ACT IS A PIECE OF LEGISLATION WE
PASSED THAT I AUTHORED HERE IN
THE HOUSE WITH THE HELP OF MY
COLLEAGUE FROM NEW YORK, MRS.
MALONEY, THE CROWD FUNDING ACT
WHICH ALLOWS SMALL BUSINESSES TO
ACCESS THE CAPITAL MARKETS TO
SELL EQUITY RATHER THAN ASK FOR
SELL EQUITY IN THEIR GREAT
START-UP OR NEW IDEA.
CROWD FUNDING TAKES THE BEST OF
MICROFINANCE AND CROWD SOURCING
AND USES THE POWER OF THE
INTERNET FOR SMALL BUSINESSES TO
HAVE OFFICIAL IN THEIR COMPANY.
NOW, IT COULD BE USED FOR A TECH
COMPANY CERTAINLY.
TO RAISE UP TO $2 MILLION.
IT COULD BE USED FOR A COFFEE
SHOP IN HICKORY OR ASHEVILLE IN
WESTERN NORTH CAROLINA TO RAISE
BUSINESS.
THESE REGULATORY CHANGES ARE
VERY IMPORTANT.
WE HAVE REGULATIONS AND LAWS ON
1933 SECURITIES
ACT, 1934 SECURITIES AND
EXCHANGE ACT THAT REALLY WERE
THE REACTION TO THE PROBLEMS AND
CHALLENGES OF THEIR DAY.
THEY PUT IN RESTRICTIONS IN
TERMS OF ADVERTISING ABOUT YOUR
SECURITY.
WELL, THAT WAS A PROBLEM WHEN
THE TELEPHONE WAS THE NEW
TECHNOLOGY OF THE DAY.
BUT WE HAVE THE POWER OF THE
INTERNET AND PEOPLE ARE MORE
INFORMED TODAY THAN THEY WERE
100 YEARS AGO ABOUT INVESTING.
SO WE ARE CHANGING THESE
REGULATORY STRUCTURES SO THAT
SMALL BUSINESSES CAN GET THE
CAPITAL THEY NEED TO GROW AND
EXPAND.
THAT'S WHAT THIS IS ALL ABOUT.
IT DOESN'T FIX EVERY PROBLEM
THAT WE FACE TODAY.
BUT THIS IS A BIPARTISAN BILL.
IT'S A GOOD IDEA.
THE PRESIDENT HAS SPOKEN IN
FAVOR OF MANY OF THE COMPONENTS
OF THIS LEGISLATION, AND WE
HOPE, NOT TO SIMPLY PASS IT OUT
OF THE HOUSE IN A BIPARTISAN
BASIS, BUT TO ENSURE THAT WE
PASS-THROUGH THE SENATE AND THE
PRESIDENT SIGNS IT, THESE ARE
GOOD IDEAS THAT CAN HAVE AN
IMPACT AND HELP US GROW AND
HELPS ENTREPRENEURS, IT HELPS
SMALL BUSINESSES.
THOSE FOLKS ARE THE LIFEBLOOD OF
ECONOMIC GROWTH AND THAT'S WHAT
WE NEED TO BE FOCUSED ON.
I URGE ADOPTION OF THE RULE.
AND ASK MY COLLEAGUES TO VOTE
FOR PASSAGE.
THE
GENTLEMAN'S TIME HAS EXPIRED.
THE GENTLEMAN FROM TEXAS
THE GENTLEMAN FROM TEXAS HAS 10
MINUTES REMAINING.
THE GENTLEMAN FROM COLORADO HAS
14 MINUTES REMAINING.
THE GENTLEMAN FROM COLORADO IS
SPEAKER.
I'D LIKE TO YIELD FOUR MINUTES
TO THE GENTLEWOMAN FROM NEW YORK
AND AUTHOR OF KEY PROVISIONS OF
THIS BILL, MRS. MALONEY.
THE
GENTLELADY IS RECOGNIZED FOR
FOUR MINUTES.
I THANK THE
GENTLEMAN FOR YIELDING AND FOR
HIS LEADERSHIP ON THE RULES
I RISE IN SUPPORT OF THIS RULE
AND THE UNDERLYING BILL.
IT'S A PACKAGE OF BILLS DESIGNED
TO ENCOURAGE THE GROWTH OF
SMALLER COMPANIES AND START-UPS,
AND IT CONTAINS SIX SEPARATE
BILLS, FOUR OF WHICH HAVE
ALREADY PASSED THIS BODY BY
OVERWHELMING MAJORITIES.
AND I SHARE THE CONCERNS OF THE
RANKING MEMBER, MR. FRANK, THAT
WERE PUT
IN PLACE, ADEQUATE TIME HAS NOT
BEEN GIVEN TO FULLY DEBATE THEM.
I DO WANT TO TAKE ISSUE WITH MY
GOOD FRIEND FROM NORTH CAROLINA
IN HIS CRITICISM OF THE CARD ACT
SAYING THAT IT HAS MADE IT
HARDER FOR AMERICANS TO RECEIVE
CARDS.
THIS BILL DO PASSED THIS BODY
OVERWHELMINGLY WITH A DEMOCRATIC
LEADERSHIP, I WAS PROUD TO BE
THE LEAD SPONSOR ON IT, WORKING
WITH ALL OF MY COLLEAGUES FROM
THE DEMOCRATIC SIDE, AND WHAT IT
DID IS IT STOPPED UNFAIR
DECEPTIVE PRACTICES, "MONEY"
MAGAZINE CALLED THIS BILL THE
BEST FRIEND A CREDIT CARD HOLDER
EVER HAD.
AND PEW FOUNDATION CAME OUT WITH
A REPORT EARLIER THIS YEAR
SAYING THAT THIS DEMOCRATIC BILL
ALONE SAVES CONSUMERS AND OUR
COUNTRY $10 BILLION IN ONE YEAR.
I WOULD SAY THAT'S AN ADVANTAGE
FOR CONSUMERS, AN EXCELLENT GOAL
WAS CHAMPIONED BY OUR
PRESIDENT AND BY THE DEMOCRATIC
I WOULD LIKE TO TAKE ISSUE WITH
THIS COMPREHENSIVE JOBS AGENDA.
I DO SUPPORT IT, BUT I THINK
THAT WE SHOULD BE WORKING ON
MAJOR JOB CREATING OPPORTUNITIES
SUCH AS THE TRANSPORTATION BILL
AND THE PRESIDENT'S JOBS ACT,
AND THESE TWO BILLS WOULD CREATE
HALF A MILLION JOBS.
HERE WE ARE REPACKAGING A GROUP
OF OLD BILLS THAT WE PASSED
BEFORE AND IT DOES NOT
CONSTITUTE A COMPREHENSIVE JOBS
AS I SAID, FOUR OF THE SIX BILLS
HAVE ALREADY PASSED THE HOUSE
WITH MAJOR SUPPORT ON BOTH SIDES
OF THE AISLE, AND I'M DISTURBED
THAT ONE BILL WAS TAKEN FROM MY
DEMOCRATIC COLLEAGUE, JIM HIMES.
I WOULD LIKE TO QUOTE "THE
WASHINGTON POST", "THE
WASHINGTON POST" SAID, I QUOTE,
THIS JOBS ACT IS NOT NEW
LEGISLATION BUT IS INSTEAD A
GRAB BAG OF ITEMS THAT HAVE
ALREADY PASSED AT THE COMMITTEE
LEVEL OR ON THE HOUSE FLOOR BY
WIDE BIPARTISAN VOTES.
THESE PREVIOUSLY PASSED BILLS
MAKES THEM USEFUL AND YET MODEST
STEPS FORWARD, BUT THEY ARE NO
SUBSTITUTE FOR A MAJOR JOB
CREATING HIGHWAY BILL OR PASSAGE
OF THE FULL AMERICAN JOBS ACT.
THESE BILLS MAKE MODEST CHANGES
FOR START-UP COMPANIES.
MAKING IT EASIER FOR THEM TO
RAISE CAPITAL THROUGH THE
INTERNET AND THE SOLICITATION OF
ACCREDITED INVESTORS AND
LOOSENING CERTAIN FILING AND
REGULATORY REQUIREMENTS FOR
START-UPS AND SMALL BANKS.
I WOULD SAY THE PRIME GOAL OF
THE DEMOCRATIC LEADERSHIP IS TO
REIGNITE THE AMERICAN DREAM BY
BUILDING THE PILLARS OF SUCCESS
FOR SMALL BUSINESSES,
ENTREPRENEURS, AND MAKING OUR
ECONOMY STRONGER.
THESE BILLS BEFORE US DO HELP IN
MANY WAYS, ALTHOUGH THEY ARE NOT
A COMPREHENSIVE JOBS PACKAGE, IT
RIGHTLY GIVES SMALLER COMPANIES
AND START-UPS GREATER
FLOURISH.
I URGE THE ADOPTION OF THE RULE
AND THE UNDERLYING BILLS AND I
DO WANT TO MENTION THE
ENTREPRENEUR ACCESS TO CAPITAL
ACT WHICH CREATES A NEW
EXEMPTION FROM REGISTRATION FOR
CROWD FUNDING SECURITIES.
IT PERMITS A COMPANY TO RAISE UP
TO TWO MILLION A YEAR -- $2
MILLION A YEAR WITH INVESTORS
PERMITTED TO INVEST THE LESSER
OF 10% OF ITS INCOME ANNUALLY IN
ITS COMPANIES AND I WAS PLEASED
TO WORK WITH MY COLLEAGUE, MR.
MCHENRY, ON THIS BILL.
IT HAS A NUMBER OF OTHERS THAT
WOULD REDUCE THE COST OF GOING
PUBLIC AND WOULD AID IN THE
CAPITAL FORMATION FOR JOB
CREATION IN OUR COUNTRY.
I DO WANT TO NOTE THAT THE
PRESIDENT OF THE UNITED STATES,
HIS ADMINISTRATION, IS
SUPPORTING THESE BILLS AND I
URGE THE PASSAGE OF THEM.
TIME.
THE
GENTLELADY JEELEDS BACK --
YIELDS BACK, THE GENTLEMAN FROM
COLORADO RESERVES, THE
GENTLEMAN FROM TEXAS.
THE GENTLELADY
MAKES A GOOD POINT ABOUT THE
PRESIDENT'S JOBS BILL, EXCEPT
IT PICKS WINNERS AND RUSERS AND
IS HUNDREDS OF BILLIONS OF
DOLLARS OF TAX INCREASES THAT
WILL CONTINUE TO KILL THE FREE
ENTERPRISE SYSTEM ALONG WITH
THE OTHER ADMINISTRATIVE THINGS
THE PRESIDENT IS DOING TO THE
FREE ENTERPRISE SYSTEM.
SO THIS BODY WILL NOT PASS
HUNDREDS OF BILLIONS OF DOLLARS
OF TAX INCREASES AND THEN SAY
WE'RE TRYING TO HELP PEOPLE
DOING THAT.
SO THE PRESIDENT I'M SURE IS
ENTITLED TO HIS OWN BELIEFS, WE
ARE GOING TO DO THE THINGS
WHICH WORK, THAT EMPOWER THE
FREE ENTERPRISE SYSTEM.
I'D LIKE TO YIELD FOUR MINUTES
TO THE GENTLEMAN FROM ARIZONA
WHO HAS BROUGHT GREAT -- HAS
BROUGHT GREAT IDEAS TO THIS
BILL AND IS INCLUDED IN THIS.
I YIELD FOUR MINUTES TO THE
GENTLEMAN, MR. IS WEEK ERT.
THE
GENTLEMAN IS RECOGNIZED FOR
FOUR MINUTES.
-- MR.
SCHWEIKERT: I MAY HAVE A UNIQUE
PERSPECTIVE HERE.
BEING ON THE FINANCIAL SERVICES
COMMITTEE, WE STARTED BUILDING
AND MOVING THESE BILLS AND
WORKING ON THEM, I THINK AS
EARLY AS A YEAR AGO LAST MARCH.
SO ALMOST EVERYTHING THAT'S IN
HERE HAS BEEN WELL VETTED, WELL
UNDERSTOOD, EVEN DOWN TO THE
AMENDMENTS AN THE CONCEPTS AND
YEAR.
AND WHY IS IT IMPORTANT DOING
THIS JOBS ACT AN BRINGING IT
TOGETHER IN MANY WAYS AS A
SINGLE PIECE OF LEGISLATION?
IT'S BECAUSE CONCEPTUALLY, THEY
ALL LINK TOGETHER.
IT IS ABOUT CAPITAL FORMATION.
IT IS ABOUT THOSE SMALL GROWTH
COMPANIES THAT CREATE THE NEXT
WAVE OF EMPLOYMENT.
LET'S FACE IT, THIS TRULY IS
ABOUT JOBS, IT IS ABOUT
ECONOMIC GROWTH.
AND THE CREATIVITY WE NEED IN
THAT CREATES THAT
NEXT GENERATION OF EXIRETMENT
AND EMPLOYMENT COME FROM THE
TYPES OF BUSINESS THAT NEED
ACCESS TO CAPITAL AND THESE ARE
THE VERY ONES THAT THIS BILL
MOVES FORWARD.
THERE'S ALSO ANOTHER POINT THAT
I HOPE MOVES UNIVERSALLY FROM
RIGHT TO LEFT HERE.
I'M ONE OF THE BELIEVERS THAT
CAPITAL FORMATION WILL LOOK
VERY DIFFERENT IN THE FUTURE.
THE OLE DAYS OF, YOU GO FIND AN
ANGEL INVESTOR AND FIND CAPITAL
AND GO PUBLIC ARE GOING TO LOOK
DIFFERENT.
SOME OF THIS IS BUZZ OF
DODD-FRANK, SOME OF IT IS
BECAUSE OF WHAT HAPPENED IN THE
REGULATORY ENVIRONMENT.
THE BEAUTY OF THIS LEGISLATION
IS GOING TO PROVIDE OPPORTUNITY
AND OPTIONS, PARTICULARLY FOR
THOSE GROWING EMPLOYERS OF
SMALL COMPANIES THAT WANT TO
GROW, WANT TO EMPLOY IN MY HOME
DISTRICT IN ARIZONA.
MR. SPEAKER, I YIELD BACK.
THE
THE GENTLEMAN FROM TEXAS
RESERVES.
THE GENTLEMAN FROM COLORADO.
SPEAKER.
IF WE DEFEAT THE PREVIOUS
QUESTION, WE'LL OFFER AN
AMENDMENT TO THE RULE TO
PROVIDE THAT IMMEDIATELY AFTER
THE HOUSE ADOPT THIS IS RULE,
IT BRING UP MR. BISHOP'S BILL,
H.R. 1748, THE TAXPAYER AND GAS
PRICE RELIEF ACT AND THAT WOULD
SIMPLY DO, IN ADDITION TO THIS
BILL, WITH BROAD, BIPARTISAN
SUPPORT, I KNOW THERE'S BROAD
BIPARTISAN CONCERN ABOUT GAS
PRICES, A VERY SUBSTANTIAL
ISSUE THAT MANY ON MY SIDE OF
THE AISLE, MR. BISHOP INCLUDED,
WOULD LIKE TO DO SOMETHING
ABOUT SO AMERICAN CONSUMERS
HAVE MORE OF THEIR MONEY TO
TAKE HOME.
SO TO TALK ABOUT HIS PROPOSAL,
I YIELD THREE MINUTES TO THE
GENTLEMAN FROM NEW YORK, MR.
BISHOP.
THE
GENTLEMAN IS RECOGNIZED FOR
THREE MINUTES.
I THANK MY FRIEND
FROM COLORADO FOR YIELDING.
I RISE IN OPPOSITION TO THE
RULE AND IN SUPPORT OF MOVING
THE PREVIOUS QUESTION.
THIS MOTION WOULD AMEND THE
BILL WITH STRONG PROVISIONS TO
STOP PRICE GOUGING AT THE GAS
PUMPS AND REMOVE UNWARRANTED
TAX SUBSIDIES FROM THE BIG FIVE
OIL COMPANIES.
WE'RE LONG OVERDUE FOR A
SERIOUS DEBATE ABOUT GAS
SCORING PILL POINTS ON THIS
ISSUE SERVES NO ONE AND DOESN'T
SOLVE THE PROBLEM.
HERE ARE THE FACTS.
DOMESTIC PRODUCTION IS AT AN
EIGHT-YEAR HIGH.
IMPORTS OF OIL ARE AT A 17-YEAR
LOW.
THERE ARE MORE OIL AND GAS RIGS
DRILLING IN THE UNITED STATES
WORLD COMBINED.
LET ME SAY THAT AGAIN.
THERE ARE MORE OIL AN GAS
DRILLS DRILLING IN THE UNITED
STATES TODAY THAN IN THE REST
THE NUMBER OF OIL RIGS IN
OPERATION RIGHT NOW HAS
QUADRUPLED SINCE PRESIDENT BUSH
LAST YEAR, THE U.S. BECAME A
NET EXPORTER OF OIL FOR THE
FIRST TIME IN 62 YEARS.
SO CLEARLY, RISING GAS PRICES
DO NOT RESULT FROM A U.S.
SUPPLY-DRIVEN PROBLEM.
AND THIS ADMINISTRATION CANNOT
BE BLAMED FOR DOING ENOUGH TO
ENCOURAGE AND FACILITATE
DRILLING.
NOR IS RISING GAS PRICES A U.S.
DEMAND-DRIVEN PROBLEM.
DEMAND IS DOWN BY 6.5% IN JUST
SINCE 2008.
THERE ARE SEVERAL FACTORS THAT
CONTRIBUTE TO RISING GAS PRICES
BUT U.S. SUPPLY AND U.S. DEMAND
ARE NOT AMONG THEM.
GAS PRICES IN THE EASTERN PART
OF MY DISTRICT ARE UP OVER 60
CENTS IN A MATTER OF WEEKS.
RAMPANT SPECULATION ACCOUNTS
FOR MOST OF THAT WITH OVER 60%
SPECULATORS.
THE SPECULATORS' OVERRIDING
GOAL IS PROFIT TAKING, WHICH
OUR LEGISLATION TARGETS.
NOTHING IS WRONG WITH PROFITS
THAMPLEE MADE OUR NATION
BUT PROFITS SHOULD NOT BE
PURSUED AT THE EXPENSE OF
MIDDLE CLASS FAMILIES, NOR AT
THE EXPENSE OF OUR FRAGILE
ECONOMIC RECOVERY THIS
LEGISLATION MAKE SHURES IT
DOESN'T BY CUTTING OUT
SPECULATORS.
IT STRENGTHENS PENALTIES FOR
MANIPULATING THE MARKET WHICH
FORCES UP GAS PRICES AND LEADS
TO PRICE GOUGING.
THE LEGISLATION ALSO CUTS OUT
SUBSIDIES FOR BIG OIL AND WE
SHOULD REINVEST THOSE DOLLARS
IN A LONG-TERM STRATEGY FOCUSED
ON CLEAN AND RENEWABLE SOURCES.
SPEAKER, OUR DEBATE SHOULD
FOCUS ON A GREEN ENERGY POLICY
FREE OF MARKET SPECULATION AND
SUBSIDY OURS NATION CAN'T
WE MUST TACKLE THIS PROBLEM
RATHER THAN USING IT TO POINT
FINGERS AND TO TRY TO SCORE
POLITICAL POINTS.
THUS I URGE MY COLLEAGUES TO
VOTE NO ON THE PREVIOUS
QUESTION, VOTE NO ON THE RULE,
I YIELD BACK THE BALANCE OF MY
TIME.
THE
GENTLEMAN YIELDS BACK.
THE GENTLEMAN FROM COLORADO
THE GENTLEMAN FROM TEXAS.
AT THIS TIME I'D
LIKE TO YIELD FOUR MINUTES TO A
MAN WHO I BELIEVE IS ONE OF THE
CLEAREST THINKERS IN THIS
CONGRESS.
HE IS A BHORNE STUDIES WELL,
APPLIES LOGIC, AN COMES OUT
WITH THE DEDUCTION OF MAKING
THINGS BETTER FOR PEOPLE WHO
ARE NOT IN THIS TOWN BUT PEOPLE
WHO ARE THE REAL PART OF
AMERICA.
I WOULD LIKE TO YIELD FOUR
MINUTES TO THE GENTLEMAN, MR.
PENCE.
THE
GENTLEMAN FROM INDIANA IS
RECOGNIZED FOR FOUR MINUTES.
I THANK THE
GENTLEMAN FOR YIELDING, FOR HIS
LEADERSHIP AN GRACIOUS ESTEEM.
I RISE IN SUPPORT OF H.RES. 47
, THE RULE SUPPORTING THE JOBS
ACT AND THE UNDERLYING BILL.
I ASK UNANIMOUS CONSENT TO
REVISE AND EXTEND MY REMARKS.
WITHOUT OBJECTION.
EVERY WHERE I GO
ACROSS THE HOOSIER STATE, I
HEAR JOB CREATORS STRUGGLING IN
THIS ECONOMY, TALKING TO ME
ABOUT THE OBSTACLES TO GROWTH,
THE OBSTACLES TO GETTING THIS
ECONOMY MOVING AGAIN FOR THEIR
AGAIN AND AGAIN I HEAR ABOUT
THE WEIGHT OF FEDERAL RED TAPE
THAT STANDS IN THE WAY OF
CAPITAL FORMATION, BUSINESS
EXPANSION, AND JOBS.
JUST TODAY I WAS TALKING TO A
MANUFACTURER IN THE STATE OF
INDIANA WHO SAID TO ME, MIKE,
THE ENVIRONMENT IN INDIANA IS
VERY POSITIVE.
OUR PROBLEM IS WASHINGTON, D.C.
AND I WAS ABLE TO REPORT TO HIM
THAT IN A BIPARTISAN MANNER
TODAY, CONGRESS WAS GOING TO
TAKE A SMALL BUT SIGNIFICANT
IN LIFTING A REGULATORY
BURDEN ON CAPITAL FORMATION AND
THAT HOOSIER, LIKE I HOPE ALL
AMERICANS LOOKING IN TODAY, WAS
ENCOURAGED.
THE JOBS ACT WILL ACTUALLY
FACILITATE CAPITAL FORMATION,
BUSINESS EXPANSION AND GROWTH
BY LIFTING THE BURDEN FROM JOB
CREATORS IN A NUMBER OF WAYS.
IT EXEMPTS CERTAIN COMPANIES
FROM S.E.C. REGULATIONS, IT
EXEMPTS SECURITIES ISSUED
THROUGH INNOVATIVE CROWD
FUNDING SOURCES FROM S.E.C.
REGULATION.
ALL OF WHICH IN PLAIN ENGLISH
MEANS THAT WE ARE GOING TO
CHANGE THE REGULATORY
ENVIRONMENT TO HELP STARTUPS
AND SMALL BUSINESSES ACCESS
PUBLIC MARKETS.
I'VE ALWAYS BELIEVED THROUGHOUT
MORE THAN A DECADE WORKING ON
THIS FLOOR THAT POLITICS IS THE
ART OF THE POSSIBLE.
AND TODAY, WE WILL NOT DO
EVERYTHING THOSE OF US ON THIS
SIDE OF THE AISLE BELIEVE WE
SHOULD DO.
-- SHOULD DO TO JUMP START THIS
ECONOMY.
BUT WE WILL DO WHAT WE CAN DO
IN A BIPARTISAN FASHION IN
PASSING THIS RULE AND MOVING
THE BIPARTISAN JUMP START OUR
BUSINESS STARTUPS OR JOBS ACT,
H R. 3606.
ON BEHALF OF HARDWORKING
TAXPAYERS IN INDIANA, ON BEHALF
OF THE JOB CREATOR I TALKED TO
THIS MORNING, I URGE MY
COLLEAGUES TO COME TOGETHER IN
SUPPORTING THE JOBS ACT.
LET'S GIVE ENTREPRENEURS AN
INVESTORS ALL ACROSS THE
COUNTRY THE INCENTIVE AND
REGULATORY RELIEF THEY NEED TO
GET THIS ECONOMY BACK ON TRACK.
TIME.
THE
GENTLEMAN YEELS BACK.
THE GENTLEMAN FROM TEXAS
RESERVES.
THE GENTLEMAN FROM COLORADO.
I WOULD LIKE TO
INQUIRE IF THE GENTLEMAN HAS
GENTLEMAN FROM TEXAS?
I THANK THE
GENTLEMAN FOR ASKING, WE DID
HAVE ONE PERSON WHO WE BELIEVE
IS ATTEMPTING TO GET HERE TO
RUN HERE, BUT I AT THIS TIME
WOULD TELL YOU HE'S NOT HERE.
SO I WOULD ENCOURAGE THE
GENTLEMAN, GO AHEAD AND CLOSE
AS HE WOULD CHOOSE AND I WOULD
THE SAME.
THANK YOU.
I CERTAINLY EXTEND THE COURTESY
IF THE GENTLEMAN WANTS TO YIELD
TIME TO HIS SPEAKER IN HIS
CLOSING.
I THANK THE
GENTLEMAN VERY MUCH.
BALANCE OF MY TIME.
THIS BILL HERE TODAY IS A GOOD
BILL, AN IMPORTANT BILL.
IT'S NOT A JOBS SOLUTION FOR
OUR COUNTRY, IT'S NOT A JOBS
BILL.
IN FACT, I THINK THE
FRUSTRATION OF SOME IS TO A
CERTAIN EXTENT IT REPRESENTS
THE SPINNING OF THE WHEELS THAT
TYPIFIED THIS CONGRESS IN THAT
MOST OF THESE BILLS HAVE PASSED
THE HOUSE.
HOWEVER, IF PASSING THEM AGAIN
AN TRYING TO PUT PRESSURE ON
THE SENATE TO PASS THEM IS A
CONSTRUCTIVE STEP TOWARD MAKING
THEM LAW, LET'S DO IT.
I THINK A STRONG, BIPARTISAN
VOTE OF SUPPORT WILL HELP DO
THAT.
SIGN THIS BILL.
I CALL UPON MY COLLEAGUES OF
BOTH SIDES OF THE AISLE TO
SUPPORT THESE BILLS.
THESE BILLS HELP FREE UP OUR
CAPITAL MARKETS IN POSITIVE AND
CONSTRUCTIVE WAYS, ALLOWING
SMALL INVESTORS THE SAME
OPPORTUNITIES AS LARGE
INVESTORS, ALLOWING COMPANIES A
LITTLE MORE FLEXIBILITY ON
REMAINING PRIVATE OVER WHO
THEIR INVESTORS ARE.
ALLOWING SMALL AND MID CAP
COMPANIES EASIER ACCESS TO
PUBLIC MARKETPLACES.
THIS IN TURN MAKES IT EASIER
FOR VENTURE CAPITALISTS AND
ANGEL FUNDERS TO INVEST IN
STARTUP COMPANIES KNOWING
THERE'S A BETTER PROSPECT OF AN
EXIT SHOULD THEY SUCCEED AT A
SMALLER MID CAP STAGE.
AS WE KNOW, THERE'S A NUMBER OF
CONTRIBUTING FACTORS TO THE
DECREASE IN PUBLIC OFFERINGS.
-- OFFERINGS THAT'S OCCURRED
OVER THE LAST 10 YEARS A TREND
THAT'S BEGINNING TO REVERSE.
ONE OF THOSE ASPECTS, NOT THE
ONLY ASPECT IS THE EXCESS
REGULATION WE ABOLISH THROUGH
THIS ACT.
OTHER THINGS INCLUDE THE
APPETITE OF THE CAPITAL MARKETS
FOR PUBLIC OFFERINGS AT ANY
GIVEN TIME AND ORE LEGAL AND
ADMINISTRATIVE RISKS THAT ARE
NOT DEALT WITH IN THIS BILL
THAT PERHAPS CALL FOR
SO THIS IS NOT BY ANY STRETCH
OF THE IMAGINATION A RECOVERY
OR A JOBS BILL.
BUT THESE ARE VERY CONSTRUCTIVE
STEPS THAT AGAIN YES WE HAVE
PASSED, WE'RE PASSING TWO NEW
ONES AS WELL, LET'S PACKAGE
THEM TOGETHER, PUT PRESSURE ON
THE SENATE TO SEND THEM TO
PRESIDENT OBAMA'S DESK WHERE HE
SAID HE'LL SIGN THESE BILLS.
BUT LET US NOT IN OUR EFFORT TO
CONTINUE TO PUSH THESE
IMPORTANT PIECES OF LEGISLATION
FOR CAPITAL FORMATION FORGET,
FORGET THAT OUR COUNTRY FACES
EVEN MORE IMPORTANT CRITICAL
RISKS BEFORE US.
WE NEED TO GET SERIOUS ABOUT
GROWING OUR ECONOMY.
AND WE NEED TO WORK *** A
BIPARTISAN BASIS TO IMPLEMENT
REAL TAX REFORM LEGISLATION,
TAX REFORM THAT WOULD CREATE A
MORE COMPETITIVE TAX CODE,
ALLOWING COMPANIES TO REINVEST
IN THEIR GROWTH RATHER THAN
TAKING THEIR MONEY IN AN
ARBITRARY WAY OR ENCOURAGING
THE ECONOMIC
REALITY AND ALLOCATION OF
RESOURCES BY HAVING CERTAIN TAX
PREFERENCES THAT MAY BE IN OR
OUT -- IN OR OUT OF THE FAVOR
OF GOVERNMENT OFFICIALS.
LET'S ALLOW COMPANIES TO INVEST
IN THEIR OWN GROWTH AND
ENCOURAGE PRIVATE SECTOR JOB
CREATION AND HAVE REAL
CORPORATE TAX REFORM AS THE
PRESIDENT PROPOSED AND THE
CHAIR OF THE WAYS AND MEANS
COMMITTEE, CHAIRMAN CAMP, HAS
PROPOSED AND MANY ON BOTH SIDES
OF THE AISLE HAVE PROPOSED.
I CALL UPON OUR HOUSE TO MOVE
FORWARD A BILL THAT WILL
FUNDAMENTALLY MAKE AMERICAN
BUSINESSES MORE COMPETITIVE AND
THAT, MR. SPEAKER, WE CAN CALL
A JOBS ACT.
WHAT ELSE COULD WE CALL A JOBS
ACT?
WE CAN CALL A JOBS ACT DOING
SOMETHING ABOUT OUR NATIONAL
DEFICIT, THE FACT THAT OUR
CURRENT FISCAL SPEGITY OF OUR
NATION IS AT STAKE IF WE DO NOT
TAKE ACTION OVER 10 OR 15
YEARS.
YES, OUR NATION FACES AN
IMMENSE FINANCIAL CRISIS.
WE NEED A BALANCED APPROACH A
BIG, BOLD, BALANCED APPROACH AS
OUTLINED BY BOTH THE
GANG OF SIX AN THE
BOWLES-SIMPSON COMMISSION.
THERE ARE A NUMBER OF PEOPLE ON
BOTH SIDES OF THE AISLE CALLING
FOR REAL DEFICIT REDUCTION, YET
THIS HOUSE HAS NOT REDUCED ITS
DEFICIT AND CONTINUED TO PASS
AN OPERATE UNDER A BUDGET THAT
SIMPLY CONTINUES THESE RECORD
DEFICITS FOR THE NEXT 10 YEARS.
PROVIDING THAT CERTAINTY AROUND
THE FISCAL INTEGRITY OF OUR
COUNTRY TO ALLOW FOR LONG-TERM
BORROWING, TO ENSURE THAT
BUSINESSES HAVE ACCESS TO
CAPITAL AND PREDICTABILITY OVER
TIME WILL AGAIN DO MORE TO
CREATE JOBS AN GROW OUR ECONOMY
THAN FREEING UP -- AND GROW OUR
ECONOMY THAN FREEING UP THE
CAPITAL MARKETS IN A FEW KEY
AREAS.
SO YES, THESE BILLS ARE AN
IMPORTANT STEP IN THE RIGHT
DIRECTION, INCLUDING THE ONLY
ONE TRULY NEW BILL BEFORE US,
THE OTHERS THAT HAVE ALREADY
BEEN PASSED BY THIS HOUSE, THIS
IS A GOOD PACK AMMING A PACKAGE
WHICH IS A FIRST START TO
REBUILDING OUR ECONOMY, BUT
EVEN AFTER THEY'RE ENACTED,
THERE'S NOTHING THAT
INSTANTANEOUSLY HAPPENS, THEY
TO BE IMPLEMENTED,
START BUYING SECURITIES,
THERE'S SEVERAL YEARS BEFORE
THIS TRANSLATE INTO ACTUAL JOB
GROWTH WHICH IT WILL TO PRODUCE
MEANINGFUL RESULTS, BUT
CORPORATE TAX REFORM AND
SHOWING SOME INTEREST AMONG
THIS BODY OF BALANCING OUR
BUDGET DEFICIT WOULD SEND AN
MARKETPLACE THAT WOULD
IMMEDIATELY LEAD TO JOB GROWTH.
I ALSO ASK UNANIMOUS CONSENT TO
INSERT THE TEXT ALONG WITH
EXTRANEOUS MATERIAL IMMEDIATELY
PRIOR TO THE VOTE OF THE
WITHOUT
OBJECTION.
I URGE MY COLLEAGUES
TO VOTE NO AND DEFEAT THE
THESE ARE IMPORTANT BILLS AND I
STRONGLY SUPPORT THE UNDERLYING
I ENCOURAGE ITS PASSAGE AND
AGAIN ENCOURAGE MY COLLEAGUES TO
BE FULLY AWARE THAT BY PASSING
THIS BILL WE ARE NOT CREATING A
SINGLE JOB.
YES, BY PRESSURING THE SENATE
AND GETTING THE BILL TO OBAMA'S
DESK WE CAN EVENTUALLY LEAD TO
ENHANCEMENT OF OUR CAPITAL AND
SOME JOB CREATION, BUT THIS
DOESN'T GET US OFF THE HOOK.
PASSING THIS BILL AND NOT
BALANCING THE BUDGET DEFICIT AS
THIS CONGRESS IS CURRENTLY
DOING, PASSING THIS BILL AND NOT
REFORMING OUR TAX CODE AND
MAKING OUR CORPORATE TAX CODE
MORE IN LINE WITH THE
NOT A RECIPE FOR AMERICAN
COMPETITIVENESS OR JOBS.
IN FACT, THIS BILL ALONE IF IT
MEANS THE ABSENCE OF BALANCING
OUR BUDGET AND THE ABSENCE OF
MAKING OUR TAX CODE COMPETITIVE,
HAS JUST BEEN ANTI-JOBS BILL.
YOU CAN'T BAIL OUT A SINKING
WE NEED TO BALANCE OUR BUDGET
DEFICIT.
WE NEED CORPORATE TAX REFORM,
INDIVIDUAL TAX REFORM.
I CALL UPON MY COLLEAGUES ON
BOTH SIDES OF THE AISLE TO TAKE
THOSE ITEMS UP AND, YES, AS A
SMALL POSITIVE MEASURE TO HELP
FREE UP CAPITAL FLOW,
PARTICULARLY FOR START-UPS AND
SMALL AND MIDCAP COMPANIES,
LET'S PASS THIS BILL NOW AND
SUPPORT THE BILL.
TIME.
THE
GENTLEMAN YIELDS BACK THE
THE GENTLEMAN FROM TEXAS IS
RECOGNIZED FOR FIVE MINUTES.
MR. SESSIONS CLOVEP THANK YOU --
THANK YOU, MR.
SPEAKER.
TO HEAR THE GENTLEMAN, HIS
STRONG VOICE NOT ONLY AS A
ENTREPRENEUR BEFORE HE CAME TO
CONGRESS BUT THE GENTLEMAN, MR.
POLIS, AS HE SPEAKS TO US IN THE
RULES COMMITTEE WHERE HE TALKS
ABOUT AMERICA WANTING TO HAVE A
BROWN-WAITE FUTURE, THE FATHER
OF A NEW YOUNG SON.
-- WANTING TO HAVE A NEW FUTURE,
THE FATHER OF A NEW YOUNG SON.
I APPRECIATE HIS WORDS TODAY.
HE IS ALSO CORRECT THAT WE DO
NOT CREATE JOBS IN THIS TOWN.
IT'S THE FREE ENTERPRISE SYSTEM
THAT DOES THAT.
WITH THAT COMES AN EQUAL
RECOGNITION THAT THIS TOWN GETS
IN THE WAY OF JOBS AND JOB
CREATION.
OUR TAXES ARE PREPARING TO BE
RAISED.
THE PRESIDENT, THE DEMOCRATIC
PARTY IS ALL ABOUT RAISING TAXES
ON ENTREPRENEURS AND PEOPLE WHO
GET UP AND GO TO WORK EVERY DAY
AND SMALL BUSINESS AND TAKING
AWAY TAX CODE THAT BENEFITS
WOMEN.
IN PARTICULAR MARRIED WOMEN WITH
THE MARRIAGE PENALTY.
JOB CREATION THROUGH INCENTIVES
THAT MIGHT DEAL WITH
DEPRECIATION.
ALL OF THESE THINGS ARE PART OF
A PRO-GROWTH JOBS PACKAGE.
AND UNFORTUNATELY THIS HOUSE IS
NOT TOGETHER ON THAT.
THIS HOUSE IS HAVING TO, AS THE
GENTLEMAN, MR. PENCE SAID, MAKE
INCREMENTAL PROGRESS AS WE MOVE
MR. SPEAKER, THIS BODY IS BIG
ENOUGH TO BE ABLE TO RECOGNIZE
THIS COUNTRY'S IN TROUBLE, AND I
DON'T CARE IF YOU LIVE IN
ORLANDO, FLORIDA, OR PENSACOLA,
FLORIDA, WHETHER YOU LIVE IN
DALLAS, TEXAS, OR WHETHER YOU
LIVE IN CALIFORNIA, THE NEEDS OF
THIS GREAT NATION ARE ABOUT JOB
CREATION AND ENSURING IN THE
COMPETITIVE MARKETPLACE THAT WE
KEEP JOBS, THAT WE HAVE AMPLE
CREDIT AVAILABLE, THAT WE HAVE
NEW IDEAS LIKE WE ARE HANDLING
TODAY IN THIS BILL, BUT THAT WE
IDEAS AND
THAT IS WHEN YOU TAX COMPANIES
OR YOU TAX SOMETHING, YOU GET
LESS OF IT.
AND WHAT -- THE DEMOCRATIC PARTY
WANTS TO DO AND THE PRESIDENT OF
THE UNITED STATES IS TO TAX
AMERICA, THE FREE JUSTICE
DEPARTMENT PRIZE SYSTEM, TO PICK
WINNERS AND LOSERS, AND THEN TO
TRY AND CALL THAT WILL NEW
REVENUE TO THIS COUNTRY WHEN IN
FACT ALL IT DOES IS OFFSET WITH
HIGHER UNEMPLOYMENT.
MR. SPEAKER, WE NEED A
PRO-GROWTH ECONOMY.
WE NEED A PRO-GROWTH AGENDA FROM
THE UNITED STATES CONGRESS.
NOT JUST THE HOUSE, BUT THE
SENATE ALSO.
WE NEED THE PRESIDENT OF THE
UNITED STATES TO UNDERSTAND THAT
HIS TEMPTATION TO TALK ABOUT
ECONOMIC GROWTH SHOULD BE ABOUT
JOB CREATION NOT JUST ABOUT
PICKING WINNERS AND LOSERS.
WE NEED SOMEONE WHO WILL BRING
THIS COUNTRY TOGETHER NOT
ATTACKING OUR FREE ENTERPRISE
SYSTEM, NOT STANDING UP IN FRONT
OF PEOPLE AND SAYING, WE CAN
WORK TOGETHER BUT ACTUALLY
BECOMING RESPONSIBLE ENOUGH TO
BECOME ENGAGED IN LEGISLATION
THAT WILL PASS WHERE WE CAN MAKE
THIS COUNTRY STRONGER.
THE REPUBLICAN PARTY IS HERE
TODAY ON THE FLOOR LEADING THIS
BILL.
WE'VE GOT A RULE WHICH ALLOWS
FOR 17 AMENDMENTS, 13 FROM
DEMOCRATS, THREE FROM
REPUBLICANS, ONE BIPARTISAN.
ONCE AGAIN I URGE SPEAKER JOHN
BOEHNER, THE GENTLEMAN DAVID
DREIER, THE CHAIRMAN OF THE
RULES COMMITTEE ARE INTENSELY
INTERESTED IN HAVING THIS HOUSE
WORK IN A BIPARTISAN FASHION,
PEOPLE.
THE AMERICAN PEOPLE EXPECT US
AND WANT US TO DO BETTER.
TODAY IS A CHANCE WHERE WE CAN
WORK TOGETHER, PASS A BILL, PUT
IT ACROSS THE AISLE TO THE
SENATE, AND ASK THEM TO PLEASE
JOIN US IN MAKING LIFE BETTER
FOR AMERICANS.
MR. SPEAKER, I HOPE ALL MY
COLLEAGUES SUPPORT THIS RULE.
IT'S A GREAT RULE.
IT DOES THE RIGHT THING.
THE UNDERLYING LEGISLATION IS
WONDERFUL.
AND WE WOULD GO AHEAD AND YIELD
OUR TIME BACK AT THIS TIME.
I ASK FOR THE PREVIOUS QUESTION.
THE
GENTLEMAN YIELDS BACK THE
THE QUESTION IS ON ORDERING THE
RESOLUTION.
SO MANY AS ARE IN FAVOR SAY AYE.
THOSE OPPOSED, NO.
IN THE OPINION OF THE CHAIR, THE
THE GENTLEMAN FROM COLORADO.
ON THAT I REQUEST THE
YEAS AND NAYS.
YEAS AND NAYS ARE REQUESTED.
THOSE IN FAVOR OF A VOTE BY THE
YEAS AND NAYS WILL RISE.
A SUFFICIENT NUMBER HAVING
ARISEN, THE YEAS AND NAYS ARE
ORDERED.
PURSUANT TO CLAUSE 8 OF RULE 20,
FURTHER PROCEEDINGS ON THIS
QUESTION WILL BE POSTPONED.
PURSUANT TO RESOLUTION 570 AND
RULE 18, THE CHAIR DECLARES THE
HOUSE IN THE COMMITTEE OF THE
WHOLE HOUSE ON THE STATE OF THE
UNION FOR THE FURTHER
CONSIDERATION OF H.R. 2842.
WILL THE GENTLEMAN FROM
CALIFORNIA, MR. MCCLINTOCK,
KINDLY ASSUME THE DUTIES OF THE
CHAIR.
THE HOUSE IS IN THE
COMMITTEE OF THE WHOLE HOUSE ON
THE STATE OF THE UNION FOR
FURTHER CONSIDERATION OF H.R.
2842, WHICH THE CLERK WILL
REPORT BY TIGHT.
A BILL TO AUTHORIZE
ALL BUREAU OF RECLAMATION
CONDUIT FACILITIES FOR
HYDROPOWER DEVELOPMENT UNDER
FEDERAL RECLAMATION LAW, AND FOR
OTHER PURPOSES.
WHEN THE COMMITTEE OF
THE WHOLE ROSE ON TUESDAY, MARCH
6, 2012, AMENDMENT NUMBER 3
PRINTED IN THE CONGRESSIONAL
RECORD BY THE GENTLEMAN FROM
MINNESOTA, MR. ELLISON, HAD BEEN
DISPOSED.
PURSUANT TO CLAUSE 6 OF RULE 18,
THE UNFINISHED BUSINESS IS THE
REQUEST FOR RECORDED VOTE ON
AMENDMENT NUMBER 1 PRINTED IN
THE CONGRESSIONAL RECORD BY THE
GENTLELADY FROM CALIFORNIA, MRS.
NAPOLITANO, ON WHICH FURTHER
PROCEEDINGS WERE POSTPONED AND
ON WHICH THE NOES PREVAILED BY
VOICE VOTE.
THE CLERK WILL REDESIGNATE THE
AMENDMENT NUMBER 1,
PRINTED IN THE CONGRESSIONAL
OFFERED BY MRS.
NAPOLITANO OF CALIFORNIA.
A RECORDED VOTE HAS
BEEN REQUESTED.
THOSE IN SUPPORT OF THE REQUEST
FOR RECORDED VOTE WILL RISE AND
BE COUNTED.
A SUFFICIENT NUMBER HAVING
ARISEN, A RECORDED VOTE IS
ORDERED.
MEMBERS WILL RECORD THEIR VOTES
BY ELECTRONIC DEVICE.
THIS IS A 15-MINUTE VOTE.
[CAPTIONING MADE POSSIBLE BY THE
NATIONAL CAPTIONING INSTITUTE,
INC., IN COOPERATION WITH THE
UNITED STATES HOUSE OF
ANY USE OF THE CLOSED-CAPTIONED
COVERAGE OF THE HOUSE
PROCEEDINGS FOR POLITICAL OR
COMMERCIAL PURPOSES IS EXPRESSLY
PROHIBITED BY THE U.S. HOUSE OF
REPRESENTATIVES.]
ON THIS VOTE --