Floor Statements

Thank you so very much.

I want to extend tremendous accolades to our chairperson, Ms. Waters, who has done just an absolutely excellent job on this bill.

Mr. Chairman, you know, there is nothing more devastating, more heartbreaking than for individual families to lose their homes and all of their possessions. And if there ever was a time that the role of government plays its most important role, it is to come to their rescue immediately, quickly, and help them to recapture their lives as quickly and to make sure that they have the insurance that is needed.

Nowhere has that been more devastating in terms of flooding than in my own district. As you all recall, many of you sent out prayers and best wishes. As you know, in my district, about a year ago, we had a tremendous flood, the worst flood in Georgia in this century, especially in the Cobb County/Douglas area where we lost seven lives.

This amendment, which will help to provide people the opportunity, that don't have to pay that insurance in one lump sum but will pay it in installments, will go a long way to helping them.

I thank the gentleman for yielding.

Ladies and gentlemen, you would think that the Republicans were somewhere on another planet. Let me correct the situation, if I may.

First of all, this was a problem that occurred under the Bush administration because of policies by the Republicans, who were in charge. It was indeed Paulson, our Secretary of the Treasury, that came to our Financial Services Committee with two pieces of paper and said here is what you need to fix it. Throw all of this money at Wall Street.

Let's give the truth in this matter. It was under Democratic leadership that we said ``no.'' Yes, we have a credit problem, a credit freeze of the credit markets up on Wall Street. And here we were. And I know sometimes the truth hurts, and I feel their pain over there. But I am sick and tired of our Republican friends assuming that they had no responsibility for this, Mr. Speaker. And we've got to set the record straight. It is in the charge of Democrats, under our leadership, that we indeed are saddled with the responsibility of bringing the confidence of the American people back to our private enterprise system and to keep it free. It is because of what the Democrats are doing that we are saving our free economic system. Under their policies it was heading to straight ruin, causing the worst economic collapse second only to the Depression.

So we are moving here today with this extraordinary bill to do everything possible to make sure that it never happens again, to restore the confidence of the American people. And we are beginning to do that. We are doing it by setting up a consumer protection agency, something we didn't have before. That's the reason this happened. They went to predatory lending, they went to steering people into subprime lending when they could have afforded other loans. There was no protection for them. Democrats are providing this protection. They were doing it because we had executive compensation pay geared to risky behavior. This is an important bill.

We have a unique opportunity today. I've heard from the other side, the Republicans, who are saying that they want to have a permanent fix. We on the Democratic side have shown that by pushing forward, we had a $68 billion bill that went over to the Senate that would do that.

Now, ladies and gentlemen, people all across this Nation are paining, they are crying to see this House of Representatives work in a bipartisan way, and there is no more critical or important issue to show that than on this issue.

The future of our health care system rests on the ability to be able to have our physicians to be able to receive payment for their services. I've talked to physicians--I talked to a group of them today--and many of them not only are refusing to serve Medicare patients now, but they're losing hope in the health care system.

We've just passed a new health care bill. It's going to bring 37 million more people on, many of them are going to be senior citizens. We're growing more senior citizens. Let's be fair to our physicians. Let's save our health care system. And let us come together as Democrats and Republicans this day and come back and get a permanent fix on this issue.

Thank you very much, Chairman Berman. I want to commend you for the excellent leadership you have provided on this extraordinarily critical issue.

Ladies and gentlemen of the Congress, on the bleached bones of many great past civilizations are written those pathetic words, ``Too late.'' They moved too late. Let us hope and let us pray that we are not moving too late here on this measure.

This is a critical piece of legislation. The Iranian regime, without any question, is after securing a nuclear weapon. The Iranian regime has already declared that they want to wipe Israel off the face of the Earth. This, quite honestly, is our last best chance to avoid the only other way we will be able to prevent Iran from acquiring a nuclear weapon, and that is through the use of military action.

The only necessity for the triumph of evil is for good people to do nothing. Well, we are here today as good people, and we are doing something very important by passing this strong sanctions bill.

Mr. Speaker, ladies and gentlemen of the House and the good people of America, I rise on a very special occasion, to pay tribute and to recognize the outstanding and excellent work of one of my constituents in Douglasville, Georgia, in Douglas County. This is an extraordinary story. This young individual, Mr. Ricky Dobbs, who is a native of Douglasville, Georgia, and a graduate of Douglas County High School has gone on to excellence and greatness in an extraordinary career of academic achievement as well as athletic achievement.

During his years as a Douglas County High School student, he portrayed such a commendable attribute that his teachers affectionately referred to him as ``the Mayor.'' He was the recipient of the Faculty Cup at his commencement ceremony in 2006. Ricky Dobbs, who has demonstrated outstanding achievement in academics, was accepted into the United States Naval Academy in Annapolis. And in sports, he is

leading Navy football as its quarterback. And what a quarterback he has become.

In the 2008 Navy football season, Ricky Dobbs rushed for 498 yards and eight touchdowns, and Navy was honored at the White House in April 2009 for winning a sixth straight Commander in Chief's Trophy by President Barack Obama. In his role as quarterback for the Navy Midshipmen in 2009, Ricky Dobbs broke the single season college record for the most rushing touchdowns by a quarterback. Yes, indeed, Ricky Dobbs finished with the NCAA record of 27 single-season rushing touchdowns and was named the game's most valuable player in the 2009 Texas Bowl.

Mr. Speaker and Members of Congress, Ricky has thrown just four interceptions in his entire career as quarterback for the Navy, or 0.033 percent, the lowest interception percentage in Naval football history. Ricky Dobbs has scored four or more rushing touchdowns on four different occasions. In other words, four touchdowns in four different games, including three times in three games this past year. No other Navy player has more than one career four rushing touchdown day, and that includes the legendary Roger Staubach.

Ricky Dobbs comes from a humble beginning. He has a family, a loving family, and when you give credit and you recognize the achievements of a young man or a young lady, you certainly have to recognize the achievements of those parents. Barbara Cobb and Clarence Dobbs have done a remarkable job of rearing this young man. But we can't stop there, for when you recognize the achievement of Ricky Dobbs of Douglasville and Douglas County, you have got to recognize that entire community that has put its arms around and reared and nurtured this outstanding young man to soar in academics as well as perform excellently in record-shattering circumstances on the football field for the prestigious Navy Academy.

Mr. Speaker, when you look at this, one word comes to mind, and that word is ``excellence.'' When that word was put to the great Greek philosopher Aristotle, when Aristotle was asked, What does it take to be an excellent person, Aristotle said, In order to be an excellent person, you must first of all know thyself. Well, Ricky Dobbs knows who he is, and that is, he is a child of God.

The question was later put to the great emperor and general, Marcus Aurelius of Rome: Marcus Aurelius, what does it take to be an excellent person? Marcus Aurelius replied, In order to be an excellent person, you must first of all discipline yourself.

What discipline it took to achieve academically at Douglas County High School and then to move up to the prestigious Navy Academy and set these astounding, record-shattering records on the football field.

And then, finally, the question was put to the Messiah, Jesus Christ, when he was asked, What does it take to be a great person, an excellent person? Jesus said, Sacrifice yourself.

As a military person, he is doing that for his country. Let's give this tribute to this outstanding young man and make this day, ladies and gentlemen, Ricky Dobbs Day in this United States of America.

Mr. Chairman, I want to speak on something that we have not touched upon, and that is what we need to touch upon the most, and that is what is in the best interests of our national security.

Here we are debating this issue: Do we want to put the future of an engine production in the hands of one monopoly company for 30 years and put $100 billion in it?

Ladies and gentlemen, by the year 2035, the F-35 will account for 95 percent of our entire aircraft fleet for our fighter squadrons. It is very important that we have this balanced in the hands of more than one manufacturer. We need to vote down this amendment.

Madam Speaker, I rise today to recognize Mrs. Mattie Lee Tomlin on the occasion of her 80th birthday and to commend her on 46 years of dedicated service as a school bus driver.

While serving our nation's public school system, Mrs. Tomlin was responsible for providing a safe environment for her students. Each school day for over 40 years, her promptness and dependability allowed her to transport school children from home to school. Her commitment made it possible for countless children to attend public school.

Mrs. Tomlin was born on June 23rd, 1930 in Jeffersonville, Georgia. After graduating from the Twiggs County School System, she served as a public school bus driver for six years. After relocating to Jackson, Michigan, she continued serving her community for a further 40 years. Throughout her years of enthusiastic support to our nation's school children, she has been widely recognized for her punctuality and commitment to safety.

Even in her retirement Mrs. Tomlin has continued her commitment to public service. For the past four years, she has volunteered her time at the Charlie Griswold Senior Center, where she currently serves as a VIP volunteer.

Madam Speaker, distinguished colleagues, it is with great pride that I recognize Mrs. Mattie Lee Tomlin for her years of service to our nation's school children. I invite my colleagues to join me in honoring this exceptional woman on her 80th birthday.

Madam Speaker, I rise today to honor two exceptional high school teams from my district. The Jonesboro High School and Morrow High School Mock Trial teams have had an unprecedented record of success. Collectively, both teams have surpassed expectations and are on their way to another record breaking year for the State of Georgia.

Jonesboro High School will compete for its seventeenth State Bar of Georgia Championship. No other school in the State of Georgia's history has ever reached this level of consummation. In addition to this record breaking endeavor, Jonesboro High School has already accomplished two national championships. This is a testament that hard work and discipline truly yield enormous results.

Morrow High School has also achieved ground breaking success. Morrow High School was the runner up in the State of Georgia region eight competition. The irony of this team's success is that Morrow High lost several team members just days before the competition. Nevertheless, this team expeditiously put together a new team which led to two of the three replacements winning state awards. While this team's cohesive bond was tested, their determination prevailed, which led them to another notable year. In addition to this year's success, it has been nine years since any other school in Clayton County has become the region champion.

With the help of the faculty advisors and community mentors, these two teams have displayed the passion and integrity that we, as members of Congress, continuously encourage. These teams represent the very essence of America as it has displayed its dedication, passion, and integrity throughout the competition in the courtroom and throughout the community.

Mr. Speaker, it is very significant that we are having this debate on Sunday, the Lord's day, because this is the day of faith, and we are going to have to step forward on faith and courage.

There are many people out here who have been warning and threatening us as to, if we vote on this bill, what will happen to us in the November elections. Well, that is not the question. The question is not what will happen to us in November. The question is, what will happen to the American people if we do not vote on this bill? That is why we have got to step out on faith, we have got to step out on courage. The American people are expecting it.

Each and every one of us was elected here for some great purpose at some great time. Well, that great purpose is for health care for all the American people, and the time is now. Vote ``yes'' for this bill and make America proud.

Parliamentary Inquiry

Mr. Speaker, I rise today to recognize the 67th annual Red Cross Month. For more than 125 years, the mission of the American Red Cross has been to help individuals and families prevent, prepare for and respond to emergencies, and each year, nearly half a million volunteers respond to more than 70,000 disasters nationwide.

I am particularly proud of the American Red Cross and its Georgia chapters, including Metro Atlanta, for their swift, substantial, and heart-warming aid to my home state of Georgia during the catastrophic floods of last September. In the immediate aftermath, and in the weeks that followed, the American Red Cross opened eight shelters that provided a safe haven for nearly 500 people displaced by the floods. With the aid of over 800 volunteers and employees, health professionals were able to reach out to 3,400 victims in flood-drenched neighborhoods.

Without the help of these dedicated volunteers and employees, flood- affected men, women, and children would not have received more than 44,000 meals, nor, after losing their homes, would they have been given 3,723 clean-up and comfort kits. The kindness of strangers provided emergency financial assistance for more than 1,700 families.

As the Spring flood season begins to take its course, I urge my constituents and fellow Americans to do what they can to support the American Red Cross. The Red Cross relies on donations of time, money and blood to respond quickly to emergencies ranging from hurricanes to earthquakes and from fires to tornadoes. I commend the Red Cross for their efforts.

Ladies and gentlemen, the question that we have got to ask ourselves this day is whose side are you on? Are you on the insurance companies' side or are you on the American people's side?

Now, ladies and gentlemen, the American people are in pain. There are 13,000 American people who are losing their insurance every day. There are American people who are being denied coverage because of a preexisting condition by insurance companies. Whose side are you on? There are senior citizens who, because of the doughnut hole, cannot have the level of treatment for their prescription drugs that they should have because of the insurance companies. The American people are sick and tired, quite honestly, of being sick and tired of our waiting.

Now, we have had arguments to say why don't we start over. Ladies and gentlemen, the insurance companies aren't starting over. They have already raised the rates in California by 30 percent just 2 weeks ago. The side to be on is the American people's side.

Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 1082) supporting the goals and ideals of the fourth annual America Saves Week.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on the legislation and to insert extraneous materials thereon.

Mr. Speaker, I yield myself as much time as I may need at this point.

I rise today in strong support of House Resolution 1082, which supports the goals and ideals of the fourth annual America Saves Week, which was held February 21 through February 28 of this year.

Mr. Speaker, the primary focus of this year's America Saves Week is encouraging automatic and habitual savings, a great need at this time in the history of our country. This is a theme that is reflected in the work of our Financial and Economic Literacy Caucus; the Treasury's Office of Financial Education; as well as the Financial Literacy Education Commission; and Federal agencies and nonprofit community- based groups, private sector organizations, the Consumer Federation of America, and the Employee Benefits Research Institute and its American Savings Education Council ``Choose to Save'' campaign, a wonderful coalition

of great Americans who are focusing us on a great need today.

Mr. Speaker, financial literacy is one of the most important issues for Americans today, whether it involves saving enough money for our children's college education, saving for an unforeseen medical or family emergency, a house, maybe a car, or one's retirement.

The current economic instability in our Nation today highlights even more to all Americans the necessity of having a savings plan, some emergency savings, and the value of making savings automatic.

Research has found that there are higher- and middle- and lower- income savers; and there are spenders, middle, higher, and lower, and almost all have the ability to build wealth through contributions to workplace retirement programs, building home equity, and other savings, if nothing more than just a simple savings account starting at a very young age for our children to get them in the habit of saving.

Older Americans are more likely to live within 200 percent of poverty than any other age group, and more than 60 percent of the current elderly population relies on Social Security for three-fourths of their annual income. And what I find even more alarming, Mr. Speaker, is that the average savings of retirees remain at $50,000, and the current financial crisis is draining these funds every day; hence, the need to help address the financial challenges that older Americans face.

To shed light on all of these shortcomings, as well as provide ways to address them, America Saves, managed by the Consumer Federation of America, was established 9 years ago as an annual nationwide campaign that encourages consumers, especially lower-income households, to enroll as American savers and establish a personal savings goal in an effort to build personal wealth and to enhance financial security. Nothing is more important than savings.

America Saves now has 53 local, State, and national campaigns working with over 500 mainstream financial institutions that provide no-fee or low-fee or low-opening-balance savings accounts that allow small savers to achieve great success. Government and nongovernment entities at the local, State, and national levels organize America Saves campaigns to encourage individuals to open savings accounts, to participate in workplace retirement programs, and to devise a good savings plan. As a result of America Saves, over 1,000 local, State, and national organizations have motivated more than 145,000 people to enroll as American savers.

I am very pleased that Federal agencies, States and localities, schools, nonprofit organizations, business and other entities, and the people of the United States of America observe the fourth annual America Saves Week with a goal of increasing the savings rate for individuals of all ages and all walks of life.

So, Mr. Speaker, I want to take this opportunity to thank Chairman Barney Frank and the staff of the Financial Services Committee for their assistance in bringing this important resolution to the floor, especially Rick Maurano and Tom Duncan.

I also want to express my sincere appreciation for all that my good friend, Congresswoman Judy Biggert, has done. She has been at the forefront of literacy for many years. In terms of her entire service here in the Congress, Judy Biggert has been in a leadership role on financial literacy and the importance of saving, and has worked over the years to help improve the financial literacy rate of all individuals across these United States at all stages of life. Mrs. Judy Biggert certainly deserves our commendation. She and Congressman Ruben Hinojosa cofounded and currently cochair the Financial and Economic Literacy Caucus, of which I am a member.

Congressman Hinojosa could not be with us here today because yesterday was the Texas primary. I am pleased to announce to all of us that he won his primary yesterday. So congratulations to Congressman Hinojosa, and we are glad to move on and carry this torch in his stead today.

I also want to take this opportunity to thank Congresswoman Biggert's staff, Nicole Austin and Zach Cikanek, as well as Chris Crowe on Congresswoman Eddie Bernice Johnson's staff. The gentlewoman from Texas (Ms. Eddie Bernice Johnson) has done an admiral job in pushing this legislation and she deserves to be commended for all of her hard work in this area, and what they all are doing, what we all are doing to help the financial and economic Literacy Caucus attain its goals. This is a tremendous bill for a tremendous purpose.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, it is my pleasure to introduce to you and yield to her such time as she may consume, the sponsor and author of this bill, the gentlewoman from Texas (Ms. Eddie Bernice Johnson), who has put in just a tremendous amount of work on this effort. She is certainly to be commended for her hard work and dedication to this issue.

Mr. Speaker, I would like to yield 3 minutes to the distinguished gentleman from Indiana, Mr. Andre Carson.

Mr. Speaker, having no further requests for time, I yield back the balance of my time, and I would urge a positive vote on this very, very important and timely legislation.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2554) to reform the National Association of Registered Agents and Brokers, and for other purposes, as amended.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation and to insert extraneous material thereon.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I am pleased to join with my fellow colleagues in bringing this important legislation to the floor for a vote today. This legislation is timely since the issue of insurance regulatory reform has remained crucial for some time now.

I am pleased to introduce H.R. 2554, the National Association of Registered Agents and Brokers Reform Act, with Congressman Neugebauer to help guarantee adequate agent broker licensing as well as ensure increased competition. That is the important word in this, Mr. Speaker, ``increased competition.''

Insurance regulatory reform is an issue many involved agree requires action, and this bill is a good starting point for leveling the playing field for insurance agents and brokers. H.R. 2554 would simply establish the National Association of Registered Agents and Brokers to provide for nonresident insurance agent and broker licensing while preserving the rights of States to supervise and discipline insurance agents and brokers.

This legislation will benefit consumers through increased competition among agents and brokers, leading to greater consumer choice. This legislation is straightforward. Insurance agents and brokers who are licensed in good standing in their home States can apply for membership to the National Association of Registered Agents and Brokers, which we call NARAB. This will allow them to operate in multiple States. Membership will be voluntary and will not affect the rights of a nonmember producer under any State license.

This legislation will benefit policyholders by increasing marketplace competition and consumer choice by enabling insurance producers to more quickly and responsibly serve the needs of consumers. A private nonprofit NARAB entity consisting of State insurance regulators and marketplace representatives will serve as a portal for agents and brokers to obtain nonresident licenses in additional States. This is provided that they pay the required State nonresident licensing fees and that they meet the NARAB standard for membership.

This bill also would establish membership criteria which would include standards for personal qualifications, education, training, and experience. And further, member applicants would be required to undergo a national criminal background check.

This very important bill clarifies current State consumer protection, and market conduct regulation would be preserved. NARAB board members would include a narrow majority of State insurance regulators. All bylaws and reports of the association will be filed with the National Association of Insurance Commissioners. This legislation directs the NARAB board to consider utilizing the NAIC as the entity that the association will collaborate with on a central clearinghouse and a national database for regulatory information. NARAB would not be a part of nor would be required to report to any Federal agency, nor would it have any Federal regulatory power.

Congress endorsed this concept through its passage of the Gramm- Leach-Bliley Act in 1999, which would have created NARAB if a number of States did not reach a certain level of licensing reciprocity. At that time, enough reciprocity was provided to avoid the creation of NARAB, but it has become clear that follow-up legislation is necessary.

So my bill addresses market entry procedures only, and it would not impact the daily regulation of insurance. Insurance agents would still be subject to the consumer protection laws of each of the States. This legislation passed in the 110th Congress by a voice vote, but this version has some important improvements. Among these improvements, sections have been added to ensure that State regulators are notified when a producer becomes a NARAB member, becomes authorized to operate in new States, or a membership is suspended or revoked. Also, this version makes revisions concerning NARAB's board of directors to clarify certain provisions, namely, that the President would formally make the appointments, and references to private-sector trade associations are eliminated.

Again, I want to thank my Republican colleague, Congressman Neugebauer, for his work on this legislation. He has done an excellent job, and I have enjoyed working with him. I urge its passage in the House once again.

Congress of the United States,

Committee on the Judiciary,

Washington, DC, March 2, 2010.

Hon. Barney Frank,

Chairman, Committee on Financial Services, House of

Representatives,

Washington, DC.

Dear Chairman Frank: This is to advise you that, as a

result of your having consulted with us on provisions in H.R.

2554, the National Association of Registered Agents and

Brokers Reform Act of 2009, that fall within the rule X

jurisdiction of the Committee on the Judiciary, we are able

to agree to discharging our committee from further

consideration of the bill in order that it may proceed

without delay to the House floor for consideration.

The Judiciary Committee takes this action with our mutual

understanding that by foregoing consideration of H.R. 2554 at

this time, we do not waive any jurisdiction over subject

matter contained in this or similar legislation, and that our

Committee will be appropriately consulted and involved as the

bill or similar legislation moves forward, so that we may

address any remaining issues in our jurisdiction. Our

Committee also reserves the right to seek appointment of an

appropriate number of conferees to any House-Senate

conference involving this or similar legislation, and

requests your support for any such request.

I would appreciate your including this letter in the

Congressional Record during consideration of the bill on the

House floor. Thank you for your attention to this request,

and for the cooperative relationship between our two

committees.

Sincerely,

John Conyers, Jr.,

Chairman.

In closing, Mr. Speaker, let me again thank my colleague, Congressman Neugebauer, for his distinguished work on this. It has been a pleasure.

Again, as he articulated eloquently a few minutes ago, the two things that this bill really does is it helps American consumers by increasing competition in the marketplace--that is really what we need as we deal with the very topical issue of insurance. And it provides the American people, the American consumer, with choice. So competition and choice are certainly the great beneficiaries of this legislation.

I might add that our act has garnered support from both sides of the aisle. We have both Democrats and Republicans working together on this. Forty-eight of us are sponsors to this bill, and 27 of us belong to the Financial Services Committee, where we have done work on it.

This bill has the support of NAIC, as I said earlier. It shows that the State insurance regulators, themselves, believe that this type of legislation has needed reform. In addition, the Independent Insurance Agents and Brokers of America supports this bill. The National Association of Insurance and Financial Advisors supports the bill. The National Association of Mutual Insurance Companies, the Property Casualty Insurance Association of America, the Council of Insurance Agents and Brokers, as well as a number of individual insurance companies, all are in support of this bill.

I am proud to have had an opportunity to work with and to have brought this bill before the House. I ask, certainly, for favorable support.

I yield back the balance of my time.

I thank the gentlewoman from Maine (Ms. Pingree). I appreciate her courtesy in allowing me to speak.

Mr. Speaker, this is an important, important issue. It is at the crucible of this entire debate on health care. And the crucible is this: We must bring down the cost of health care. And in a free economy, the surest way of bringing down the cost of a product or a service is through competition.

The antitrust laws were put on the books during Standard Oil with John D. Rockefeller to break that up so we could bring competition. Here we have now, almost a hundred years later, the only industry that is exempted from antitrust is the insurance industry, the health insurance industry. Surely we can agree on this.

Mr. Speaker, let me just say one other thing, too, to my friends on the other side of the aisle. It was a great Republican who said a house divided against itself shall surely fall. Well, this Nation is tired of seeing us divided. They want to see us find something, one or two things, that we can agree on. America is yearning for Republicans and Democrats to come together on something that will help bring down the cost of health care insurance, and nothing will more surely do that than to remove this exemption from antitrust that is beholden to the insurance companies. As long as they have it, they are free to do the monopoly. They are free to price fix.

We can agree on both sides of the aisle here today to bring down the cost of health care insurance by removing this exemption.

Thank you, Mr. Chairman. Let me commend you for the excellent leadership that you have provided on this issue.

In this debate today, the one point that has been missing is this: What about the American people? That's what this debate should be about.

As we speak, 14,000 American citizens and families are losing their health care insurance every single day. And the number one reason they're losing it is because of the high costs of health care insurance. And one of the major reasons why we have the high cost of health care insurance is because the insurance companies do not have competition. And the biggest reason they don't have competition is because they have this shield. They are exempt from competition. That's why we passed the antitrust laws in the very beginning. Go back to John D. Rockefeller and the American Standard Oil companies. That's what it was all about. It was so we could have that competition.

Now, there has been much argument on the other side about the sharing of this information. Madam Speaker, I call to your point and the point of this Congress what the Supreme Court said about the sharing of the information in the 1925 case of Maple Flooring Manufacturers' Association v. The United States. It said the pooling of statistics does not violate the antitrust laws. As a matter of fact, it's there, and it helps both small and large businesses. He said it's legitimate. But they said the collusive joint coordination of future pricing, of output, of marketing decisions to take meaningful choice away from customers, to rob the American people of the benefits they would receive from competition, must not be allowed.

That's what the antitrust provision prohibits. That's why it's important to us to remove it today for the American people.