Floor Statements

Mr. Chair, I missed a vote today. Had I been present, I would have voted AYE on Roll Call No. 328.

Amendment No. 171 Offered by Ms. Titus

Mr. Speaker, I rise today to recognize and congratulate Continental Linen Service (CLS) on its 125th Anniversary.

Founded in 1899, CLS originally operated as Kalamazoo Laundry Company before Ted Vander Meer purchased the company in 1966 and changed the name to what we know today. This fourth-generation family-owned business now employs over 200 team members covering six locations across Michigan.

Today, CLS serves over 7,000 customers spanning food service, hospitality, medical, and industrial accounts across the state. In 2023 alone, they processed over 24 million pounds of uniforms, linen, and other materials. Recently, they completed a $7 million, 11,000 square foot expansion to their processing facility to improve their capacity for growth.

Mr. Speaker, please join me in thanking the team at Continental Linen Service for their commitment to the community and years of dedicated service to Michigan. I wish them all the best as they continue to grow in Kalamazoo County and beyond.

Mr. Chair, last Congress, as a member of the Digital Assets Working Group, we established clear principles on how any proposed CBDC proposal should be evaluated.

First, the U.S. dollar must remain the world's reserve currency, and our payment systems must continue to be the envy of the world. American taxpayers should benefit, not be disadvantaged, by any legislation that Congress enacts.

Second, the private sector must lead the way. Digital asset policies must promote private-sector innovation and foster competition. That is what the bill was about yesterday, Mr. Chair.

Further, we must maintain privacy and security protections consistent with other currency transactions utilized today. That is in danger, based on what the Fed is proposing.

Lastly, it should come as no surprise that many Americans view a Fed- developed central bank digital currency with great skepticism, and I include myself in that category. Congress has not granted the Fed this authority, nor should it.

Mr. Chair, since the first cryptocurrency network was created nearly 15 years ago, the rules governing the digital asset ecosystem have remained unclear.

As I learned while serving as chairman of the Capital Markets Subcommittee, regulators have been using opaque guidelines and regulation by enforcement. Meanwhile, Congress has been working on a bipartisan path forward.

Digital assets have the potential to revolutionize payment systems in the United States by allowing financial systems to become more efficient and more accessible to consumers.

By passing a comprehensive market structure framework, responsible actors will now have greater certainty and consumers will have greater protection from bad actors.

Mr. Chair, our markets are the envy of the world. We must not cede any ground. American innovation is a critical element of job creation and economic opportunity here in the United States. Congress must look to preserve this competitive advantage and not let it leave our shores. FIT21 is a historic first step.

Mr. Chair, I urge all of my colleagues to support this legislation.

Madam Speaker, I rise today to honor the men and women serving as first responders in our communities across southwest Michigan.

These brave individuals put on their uniforms every morning with no guarantee that they will make it back home. We must remember there is no such thing as a routine traffic stop these days. The tragic reality is that our police and law enforcement officers are being targeted and killed at an alarming rate.

Yesterday, here at the Capitol and in Michigan, we honored those who have fallen in the line of duty while serving our communities, including Berrien County Deputy Sheriff Elton C. Stover, Officer Scot A. Beyerstedt with the Mattawan Police Department, and, more recently, Ryan Joseph Proxmire with the Kalamazoo County Sheriff's Office.

Over the last several years, increased support for the defund the police movement and antipolice legislation has led to a complete lack of appreciation for the work officers do every day.

I support these men and women serving our communities, as do the vast majority of us here in Congress, and I thank them for their efforts to make southwest Michigan a safer place and an even better place to call home.

President Biden's Immigration Policies Wreaking Havoc

Madam Speaker, President Biden's immigration policies continue to wreak havoc on our borders.

According to the Department of Homeland Security, over 9 million individuals have illegally entered the United States over the last 3 years.

That alone is unacceptable, but just this week, it was revealed that there have been more individuals who have evaded Border Patrol and illegally crossed into the United States since President Biden took office than in the previous decade combined under Presidents Obama and Trump.

Madam Speaker, it is clear that President Biden's open-border policies are the problem. The Biden administration must implement the border reforms that I voted for and the House passed, which include restarting construction on the border wall, ending catch and release, and making sure our men and women serving on the border have the manpower and resources they need to secure our border.

Border security is national security, and I will continue to fight for border security and make west Michigan a safer place.

Abuses Documented at FDIC

Madam Speaker, yesterday, in our House Financial Services Committee, we had a big day. It was, frankly, a sad and tragic day because it was a day to explore what had happened at the FDIC, the Federal Deposit Insurance Corporation.

There was an independent report, the Cleary Gottlieb report, as it is known, which had heard from 541 individual whistleblowers who were outlining the hostile work environment that exists at the FDIC. Sexual harassment, racial discrimination, general temper tantrums, and bad behavior abound.

Some say that this has been happening for a long time. That is true, but there is one person, one man, who has been in charge of the FDIC for 10 of the last 13 years. He is now on his third tour of becoming the Chair, and these complaints stretch back to each time that he has been chairman.

In fact, the other two intervening chairs, Sheila Bair from President Obama and Jelena McWilliams from President Trump, have spent their time cleaning up the mess that Martin Gruenberg has created at the FDIC.

The bottom line is, Madam Speaker, if you created the environment, you can't fix the environment, and you are not the right person for the job. If you say everyone will be held to a higher standard from now on, yet will not hold yourself to that same standard, you are not the right person for the job.

Madam Speaker, the time has arrived for the FDIC Chairman Martin Gruenberg to resign or be fired.

Mr. Speaker, I rise today to recognize the service and sacrifice of Berrien County Sheriff Deputy Elton C. Stover. Deputy Stover was born November 21, 1910, in Berrien County and pursued a career in law enforcement, serving in the Berrien Springs Police Department, Comstock Police Department, and served as the Constable of Lincoln Township.

On December 3, 1965, armed gunmen targeted the Farmers & Merchants National Bank in Benton Township. Berrien County Sheriff Deputies Elton Stover and Gary Mitchell responded to the call for help. Upon arrival to the scene, Deputies Stover and Mitchell were immediately met with an array of gunfire with both men being struck.

As Deputy Stover laid on the bank floor he was hit with two bullets, smashing through his chest and right leg. He and Deputy Mitchell were rushed to Mercy Hospital in Benton Harbor, where he underwent what was thought to be a successful surgery. Unfortunately, Deputy Stover's condition deteriorated, and he passed away during surgery at 2.55 p.m. on December 10, 1965, making the ultimate sacrifice in service to the people of Berrien County. To this day, Deputy Elton C. Stover remains the only Deputy in the history of the Benton County Sheriff's Department to be killed in the line of duty.

Mr. Speaker, each day, law enforcement officials like Deputy Stover help to keep our communities safe, rush into dangerous situations, and lay down their lives to protect their fellow citizens. It is my solemn honor to remember Deputy Elton Stover and all fallen law enforcement officers from Michigan's 4th Congressional District, the state, and throughout the country.

Mr. Speaker, I rise today to commemorate the Kalamazoo County Sheriff's Office for its recognition as an accredited agency by the Michigan Law Enforcement Accreditation Commission. This achievement acknowledges the commitment to professionalism and excellence in law enforcement that has been demonstrated by the Kalamazoo County Sheriff's Office.

The Kalamazoo County Sheriff's Office was founded in 1830 and provides services to over 250,000 residents in the area. Under the leadership of Sheriff Richard Fuller, who has been serving Kalamazoo County as sheriff for more than 15 years, the Sheriff's Office has been recognized as the ``gold standard'' for law enforcement agencies.

In February of 2024, the Sheriff's Office underwent a lengthy board review to approve their eligibility for formal accreditation following a process that took two years to complete. Through this process, the Michigan Law Enforcement Accreditation Commission board confirmed that the Sheriff's Office met over 500 standards, covering an array of protocols from the hiring process to policing standards to the conduction of investigations.

I would like to thank the Kalamazoo County Sheriff's Office for their continued dedication to protecting and serving the residents of Kalamazoo County. As only the second Michigan's sheriff's office to achieve this accreditation, this accomplishment is commendable.

Mr. Speaker, please join me in congratulating the Kalamazoo County Sheriff's Office on their accreditation.

Mr. Speaker, I rise today to recognize economic development organizations across Michigan and our Nation by celebrating Economic Development Week.

Every May, we acknowledge the dedication of economic developers to job creation, financial health, and making our communities an even better place to call home.

The work done by these economic developers creates new opportunities and lasting impacts on townships, cities, and counties across southwest Michigan.

Organizations like Lakeshore Advantage, Cornerstone Alliance, Southwest Michigan First, Market Van Buren, and Battle Creek Unlimited are the standard for economic development in Michigan, thanks to their strong leadership.

As a small business owner myself, I understand the importance of creating a forward-looking plan that advances your community's goals and well-being.

Mr. Speaker, please join me by celebrating Economic Development Week as we recognize the important contributions of these organizations and individuals striving to make our communities a better place to live, work, and raise a family.

Madam Speaker, I rise today to recognize the Battle Creek Air National Guard's efforts to better support military families and their children in southwest Michigan.

One of the unique challenges military families face is where to get childcare, especially during weekend drills. With this in mind, the 110th Wing's efforts to support families led to the establishment of the second Air National Guard Childcare Facility program.

Partnering with the Augusta Child Development Center, the program provides childcare for over 20 children of military members during regular and rescheduled drills.

Since the start of the program, the base has seen an increase in productivity and positivity that has allowed them to strengthen their mission readiness, retention, and talent management. It is wonderful to see the 110th Wing develop and lead this innovative approach to improve the lives of military families not only in southwest Michigan, but across the Nation.

As the Month of the Military Child comes to a close, I thank all of our servicemembers and applaud the Michigan Air National Guard's leadership and commitment to supporting their military families.

Mr. Speaker, had I been present, I would have voted YEA on Roll Call No. 142.

Mr. Speaker, in a time where there is conflict and war throughout the world, it is also good to remember those things that bring a smile to our face, whether it is people, traditions, or places. Today's tribute is one of those in my life.

It is the 100th anniversary of Frank's Restaurant, which is an absolute icon in my hometown of Zeeland, Michigan. It was started by a man named Frank Dionise just 100 years ago and was family owned. The Dionises and the Hammers had owned it until just recently.

It is the kind of place that every Zeelander has memories in and around. It is the kind of place where every true Zeelander knows what their go-to order is; mine happens to be the olive burger with onion rings.

I thank Teresa Vander Zwaag and the families that have taken that over and made sure that this institution is continuing while it celebrates 100 years in the great town of Zeeland, Michigan.

Mr. Chair, I have an amendment at the desk.

Mr. Chair, I yield myself 2\1/2\ minutes.

Mr. Chair, for 90 years, the Securities and Exchange Commission has been tasked with three things: protect investors; maintain fair, orderly, and efficient markets; and finally, facilitate capital formation.

The amendment before us today does all three.

First, it directs the Securities and Exchange Commission to promulgate rules with respect to electronic delivery of some required disclosures to retail investors.

Second, it provides a transition period, allowing an initial paper communication about the electronic delivery to be sent to existing investors.

Third, during a period not to exceed 2 years, the amendment requires delivery of the annual notice in paper solely to remind investors of the ability to opt out of that and into electronic delivery at any time.

Lastly--and I can't emphasize this enough--this amendment provides a mechanism for investors at any time to opt out of e-delivery, and once again, you will receive paper versions of the documents.

You want paper, Mr. Chair, you get it.

You want e-delivery, you can get that, too.

E-delivery is not a new and radical concept, but frankly, it is long overdue, and the data supports the facts.

In 2018, the Social Security Administration eliminated paper as its primary method of delivering benefit statements to individuals. Now, nearly 45 million Americans who receive benefits from Social Security have created online accounts to access their information--information that is more timely and more secure.

Likewise, the Federal Thrift Savings Plan, TSP, which Members and staff in this Chamber use, began offering statements digitally in 2003, with 5.5 million or 85 percent of participants currently taking advantage of this option.

Finally, in 2020, the Department of Labor moved to e-delivery as a default for all of its workplace plan participants.

I would close by addressing consumer protection. This amendment appropriately preserves the ability for investors who prefer to receive paper notices and disclosures to do just that.

Like many of my colleagues, I, too, represent a district that encompasses rural communities. That is why it was important for today's amendment to ensure that paper will always be an option if internet access is an issue.

American financial markets are some of the most sophisticated in the world with innovation happening at every turn. Yet, for retail investors, we have decided that defaulting to an outdated mode of information sharing is in their best interest.

Today's amendment was guided by a commitment to honor consumer choice while ensuring Americans receive important information.

Madam Chair, I reserve the balance of my time.

Madam Speaker, I yield 2 minutes to the gentleman from North Carolina (Mr. Nickel).

Madam Chair, may I inquire of the time remaining?

Madam Chair, virtually every Federal agency, including the IRS and the Social Security Administration, have moved to electronic delivery. Why? Because older Americans have rapidly adopted internet technology in recent years, including 96 percent of those between the ages of 50 and 65, of which I am, and over three-quarters of those over the age of 65.

In fact, in a recent AARP study about retirement plan account holders' views on electronic versus paper accounts, 91 percent of the people were comfortable using the internet to log in and view financial accounts and 94 percent used the internet daily.

I understand the AARP has some concerns with this legislation. We have attempted to address those through the ranking member. Unfortunately, their solution so radically changes the scope of the bill that it undercuts the entire intent of this.

As I have said before, if you want paper, you will receive paper. If you want an electronic copy, you will receive an electronic copy. It is disingenuous to say anything else. If you don't have internet access, or if you choose to receive paper, you will get it.

Madam Chair, I yield back the balance of my time.

Madam Chair, I demand a recorded vote.

Mr. Speaker, had I been present, I would have voted ``yea'' on rollcall no. 10.

Stated against:

Mr. Speaker, I rise today to recognize and commemorate the heroic actions of Gerold Prather. On May 15, 2022, Mr. Prather of Kalamazoo, Michigan, rescued a teenage boy who was struggling to swim in Lake Michigan.

That day, the teenage boy and his friends were at least 100 feet out in the lake when they started to call for help. The friends were struggling and had submerged under the water.

In another group at the beach, Mr. Prather heard calls for help, entered the lake, and swam to the boys. Reaching them, the boys submerged and resurfaced. With difficulty, Mr. Prather first pushed a boy toward the beach and then positioned him on his back and towed him to a point about 50 feet from shore where, tiring, Mr. Prather shouted for help. Another man waded into the lake and helped Mr. Prather and the boy get to the beach.

In honor of these lifesaving actions, Mr. Prather has been awarded the Carnegie Medal, a prestigious honor bestowed upon those who ``enter extreme danger while saving or attempting to save the lives of others.'' Mr. Prather is one of 16 total Carnegie Medal recipients slated to receive the honor in 2023.

Mr. Speaker, please join me in thanking Mr. Prather for his heroism and commemorating him for his lifesaving actions.

Mr. Speaker, had I been present for rollcall vote No. 722, On Motion to Adjourn, I would have voted ``nay.''