Madam Speaker, by direction of the Committee on Rules, I call up House Resolution 1361 and ask for its immediate consideration. Madam Speaker, for the purpose of debate only, I yield the customary 30 minutes to the gentlewoman from…
Madam Speaker, by direction of the Committee on Rules, I call up House Resolution 1361 and ask for its immediate consideration.
Madam Speaker, for the purpose of debate only, I yield the customary 30 minutes to the gentlewoman from Minnesota (Mrs. Fischbach) pending which I yield myself such time as I may consume. During consideration of this resolution, all time yielded is for the purpose of debate only.
General Leave
Madam Speaker, I ask unanimous consent that all Members be given 5 legislative days to revise and extend their remarks.
Madam Speaker, the Rules Committee met and reported a rule, House Resolution 1361, providing for consideration of S. 1098, the Joint Consolidation Loan Separation Act, under a closed rule.
The rule provides 1 hour of debate equally divided and controlled by the chair and ranking minority member on the Committee on Education and Labor, as well as one motion to commit.
Finally, the rule provides the majority leader, or his designee, the ability to en bloc requested roll call votes on suspension bills considered on September 19 to September 22. This authority lasts through September 22, 2022.
Madam Speaker, I am pleased we are here today to provide consideration of
the Joint Consolidation Loan Separation Act, led by my colleagues Senator Mark Warner of Virginia and Representative David Price of North Carolina.
From 1993 to 2006, the Department of Education allowed married couples to consolidate their student loans for a lower interest rate through the Joint Consolidation Loan program requiring participating borrowers to be jointly liable for repayment of their loans.
Congress ended the program in 2006, but Congress never provided a way for borrowers to disentangle the joint debt. Across the country, there are borrowers who remain liable for their former spouse's debt, even in cases of domestic violence.
Today, we have an opportunity to address this problem and help borrowers regain their financial independence.
The Joint Consolidation Loan Separation Act allows borrowers to apply to the Department of Education to split their consolidated loan into two separate Federal direct loans. Borrowers can submit either a joint application or an individual application in the case of domestic violence, economic abuse, or inability to reach a former spouse.
The joint consolidation loan remainder would be split proportionally based on the percentages that each borrower originally brought into the loan. The two new Federal direct loans would have the same interest rates as the joint consolidation loan.
Additionally, the bill would enable borrowers to regain access to student loan relief programs such as the public service loan forgiveness program and income-driven repayment programs for which they were previously ineligible due to their joint consolidation loans.
Like many of my colleagues, I have heard from constituents who have joint consolidated loans with their former spouses. Some of those constituents express frustration that, due to having a joint loan, they become ineligible to apply for other student loan relief programs, even though they are no longer with their spouse and they are carrying the burden of the joint loan.
Constituents also entrusted me with their personal stories of domestic abuse and how these joint consolidated loans won't allow them to get away from their abusive former spouses.
Just a few weeks ago, a constituent from Wheat Ridge, Colorado, reached out to my office. It has been nearly 17 years since her separation from her abusive spouse. Following her divorce, not only did she and her family continue to receive harassment from this individual, but she was left with the financial burden of paying the entire loan balance because her former spouse refused to pay his share.
All she wanted was a fresh start, so she moved to Colorado, but her joint consolidated loan with her former spouse continues to loom over her.
She is not asking for her loans to be forgiven. She is simply asking to be finally freed from this abusive relationship by passing this Joint Consolidation Loan Separation Act.
I thank her and all the other individuals who have come forward to share how this loan program that ended nearly two decades ago continues to affect their daily lives.
I commend Representative Price, Senator Warner, and all of my colleagues for this work on this bill. I urge all my colleagues to support the rule and the bill.
Madam Speaker, I reserve the balance of my time.
Madam Speaker, I yield myself such time as I may consume.
Madam Speaker, first, I include in the Record a Statement of Administration Policy, dated September 19, 2022, supporting this particular piece of legislation.
Statement of Administration Policy
Madam Speaker, I listened to my friend from Minnesota, and I appreciate her remarks. The amendment that has been discussed that the Republicans are proposing simply does not go far enough.
This bill really should be embraced unanimously in this House, just as it was in the Senate between Democrats and Republicans, allowing for spouses to separate, take on their own specific piece of the loan, and move forward, no longer staying in this kind of locked-in relationship, especially in those situations.
They do recognize the abusive relationships, but there are also some where there is economic abuse or where you simply can't reach the spouse. In those instances, too, there should be the ability to divide these back into their original forms.
So, this bill, like it was in the Senate, should be accepted, I think, universally by this House. I am sorry to see that there is opposition. It doesn't make a lot of sense to me.
Madam Speaker, I reserve the balance of my time.
Madam Speaker, ordinarily, I would argue with my friend from Illinois, but since it was such a nice testimonial to the doctor, I will support him in his 1 minute and his nice comments as his friend retires.
Getting back to the matter at hand, Madam Speaker, we are here to deal with loan separation. I would say that we are looking at some 14,000 loans to which this might be applicable.
It will provide a path forward for borrowers with these loans who no longer want their debt to be tied to their former spouse. It is particularly important for borrowers who just want to meet their own debt obligation without being saddled with someone else's.
We have heard from these constituents, as we heard from my constituent from Wheat Ridge, Colorado, about the fact that she has been divorced for 17 years and is still saddled with a debt that her husband owed and won't take responsibility for.
Madam Speaker, I urge passage of this bill, and I reserve the balance of my time.
Madam Speaker, I yield myself such time as I may consume.
I remind my friend, Mr. Pfluger, that this bill is about separating loans. It is not about the energy policy, although I will address some of his remarks in a second.
This is about the some 14,000 people that have taken advantage, clearly of consolidating loans, but since that point, there has been some disruption in their marriage. So we now have people, as I mentioned earlier, that have been divorced for 17 years, still burdened by a student loan of their ex-spouse and, in that particular instance, an ex-spouse who had been abusive and continues to refuse to pay his share of the loan.
So this gives the spouse who was in the abusive relationship, the spouse who can't find the ex-spouse to help take care of this joint loan, the ability to separate, take care of their own loans, and take advantage of other programs that we, in Congress, the administration, Democrats and Republicans, have put into place, like the public loan forgiveness.
If you are working for the government, in some instances, you can get credit for that service. Many of these people have been unable to take advantage of that. So that is what this bill is about. That is what this rule is about.
Now, as to my friend, I would say to him, you know, gas prices--I don't know about Texas, maybe Texas has higher gas prices than Colorado. But in Colorado, the gas prices have dropped a buck 30 to a buck 50 over the course of the last 4 months, to the point where it is under three bucks.
Madam Speaker, I refer my friend to the article in The New York Times and that I will include in the Record titled: ``U.S. Gas Prices Have Fallen for 91 Straight Days, a Relief for Consumers.''
[From the New York Times, Sept. 13, 2022]
U.S. Gas Prices Have Fallen for 91 Straight Days, a Relief for
Consumers
(By Isabella Simonetti)
The price of gasoline continues to fall steadily, easing
pressure on American consumers as the cost of filling a tank
continued to tumble from record levels reached earlier in the
summer.
Gas prices fell 10.6 percent in August, which helped
moderate still-sky-high inflation, Tuesday's Consumer Price
Index report showed.
The energy index, which tracks gasoline and electricity
among other energy sources, dropped 5 percent last month, as
electricity and natural gas prices rose.
After peaking at $5.02 in June, gasoline prices have
dropped for 91 straight days, and the national average stood
at just over $3.70 a gallon on Tuesday, data from AAA show.
But analysts point to a few reasons this streak of declines
is unlikely to continue.
Because they're determined by oil prices, gasoline prices
are also susceptible to a wide range of challenges, like
hurricanes that knock out drilling in the Gulf of Mexico and
efforts to punish Russia for its invasion of Ukraine by
curbing its ability to sell crude on the global market.
While gas prices are down, the overall energy index still
remains up 23.8 percent over the 12 months that ended in
August. Electricity prices alone jumped 15.8 percent,
representing the largest 12-month increase since August 1981,
the inflation report said. The jump in electricity prices is
largely attributable to the high cost of natural gas, said
Laura Rosner-Warburton, an economist at MacroPolicy
Perspectives.
As winter approaches, other fuel prices could influence
inflation data. The cost of heating a home with natural gas,
the most common source of home-heating fuel in the United
States, is expected to jump more than 25 percent from last
year, to $952 for the six months from October through March,
according to the National Energy Assistance Directors
Association.
``You would expect that a hard winter could create a
significant increase in demand in price of natural gas,''
said Bryan Benoit, U.S. national managing partner of energy
at Grant Thornton. ``And then of course all of this is
further exacerbated by what's going on with the war in the
Ukraine.''
Madam Speaker, I would also say to my friend from Texas, as it relates to inflation, the gentleman is correct. There has been, on a year-over-year basis, a jump of about 8 percent, 8.3 percent, I think he mentioned. But since the beginning of the year, that has fallen dramatically.
Of course, over the summer we saw deflation in a couple of months, and the most recent inflation report in August was it rose .1 percent. So, annualized, that is a 1.2 percent inflation rate now because we are seeing prices drop, particularly in the energy sector.
So as much as my friends on the other side would like to wish that we had inflation, it is going away because we have been able to pass legislation like the Inflation Reduction Act, which takes a good look at both climate responsibilities that we have in urging and incentivizing towards renewable energy. But it also has a huge piece in there to allow us to negotiate prescription drug prices and bring those down.
So I would say to my friends on the other side, this bill is about dealing with loans, consolidated loans that now need to be separated.
But on the subjects brought up, I can tell you that inflation is dropping
based on the most recent reports, and gas prices are falling.
Madam Speaker, I reserve the balance of my time.
Madam Speaker, I yield myself such time as I may consume.
With respect to the bill that we have before us and the rule that we have before us involving the separation of these loans, I would just say there was a woman named Angela who is on the hook for nearly $200,000, she has been divorced since 2016.
What she owes is five times what her initial loan was because of this consolidation of loans. And she suffered from domestic violence and has had her credit score drop like a rock. She is faced with crippling debt. And until we are able to uncouple and decouple these joint loans through this separation loan act, she is going to continue to be burdened by something that really is not her responsibility.
That is the bill we are here to really debate and discuss, S. 1098. And obviously, the rule is to allow its debate on the floor of this House.
This weekend, I was out walking precincts on Saturday--going back to the energy discussion that we are having. And at one of the houses was a young man getting his electrical engineering degree at the Colorado School of Mines. And he didn't really recognize too many of the candidates.
But he did say that he was familiar with the Inflation Reduction Act because it is the first time we have done anything of any real significance for a long time to deal with climate change, and he was very appreciative of that. A gentleman who doesn't have an affiliation; he is not a Democrat, he is not a Republican, unaffiliated. But he was aware of the substantial policy changes and investments we are making to deal with extreme climate that we face all across this country.
I am glad it is nice in North Dakota right now. But across the country, we have seen wildfires at times that nobody has ever experienced before. We have seen terrible floods, and we continue to see the ocean rise.
There are so many pieces to that Inflation Reduction Act dealing with improving our climate and dealing with the change that I certainly was proud to have supported it.
Madam Speaker, I reserve the balance of my time.
Madam Speaker, I yield myself the balance of my time.
I compliment my friend or her Googling talent, because I am sure that is true. The situation that we faced is gas prices shot up to about 4\1/2\ bucks, and they have dropped now almost to $3, or in places across the State, less than $3.
But, obviously, in Colorado, we are enjoying a very good economy. Virtually everybody is working. We have an unbelievably low unemployment rate. So we feel gas prices are going in the right direction, prices generally are going in the right direction, and there are a lot of people to credit for that, starting with the President of the United States.
Madam Speaker, I thank my colleagues for joining me here today to speak on the rule and the Joint Consolidation Loan Separation Act.
Over the course of the Joint Consolidation Loan program, more than 14,000 borrowers participated. It seemed like a simple consent. Joint consolidation loans allowed for couples to have one single monthly payment with a lower interest rate, but Congress never provided a way for individuals to separate their loans if and when the time came necessary; whether it is an abusive relationship where there is domestic violence, economic abuse, or you simply can't find your ex- spouse to have them help carry the burden.
To my friends on the other side of the aisle who claim they want to help these borrowers, the opportunity to help them is right here, right now. Borrowers who have experienced physical and mental abuse from former partners who now refuse to pay their student loans, like my constituent from Wheat Ridge, say this legislation would set them free. Supporting this legislation is the right thing to do to help borrowers who for years have been stuck in these joint loans with no way out.
Madam Speaker, I urge a ``yes'' vote on the rule and on the previous question.
Madam Speaker, I yield back the balance of my time, and I move the previous question on the resolution.