Mr. President, I have a question for the distinguished Republican whip. You are going to take the minority leader's 10 minutes prior to the 11 o'clock vote? Mr. President, I am happy to ask consent that the Senator have that, but he is not…
Mr. President, I have a question for the distinguished Republican whip.
You are going to take the minority leader's 10 minutes prior to the 11 o'clock vote?
Mr. President, I am happy to ask consent that the Senator have that, but he is not entitled to leader time. If he wants an extra 10 minutes, that is fine with me.
Mr. President, it is my understanding that the minority has 2 minutes left; is that right?
Mr. President, I say to my friend, do you intend to use that?
Mr. President, on our side, it is my understanding we have 1 minute, plus my time; is that right?
Mr. President, I would yield 3 minutes to the Senator from New York, Mr. Schumer. No, he doesn't want it. OK. That is unusual.
I wish I had the words to express adequately my appreciation for the work done by the chairman of the committee and the ranking member of the committee. Senator Dodd and Senator Shelby have done a remarkable job under tremendously difficult circumstances to get where we are today. They were for this piece of legislation before Fannie and Freddie got into big trouble because they knew and they could see the problems with the housing industry. The fact that Fannie and Freddie got into trouble only made it more imperative that these two managers of this legislation move forward more rapidly. They have overcome tremendous obstacles.
We have had seven cloture votes on this housing bill. I do not know if in the history of this country we have ever had a single piece of legislation with that many cloture votes, but we had them on this bill. These two very fine legislators--one from the State of Connecticut, with a totally different economy, different political base than that of the State of Alabama--worked together for the good of the American people. I so admire and appreciate the work they have done under, I repeat, very difficult circumstances.
For most Americans, yesterday, Friday, was an ordinary summer Friday. But for about 8,500 families, it was a terrible day because, when they got their mail, there was a foreclosure notice or, when they opened their door, they found on their door a notice of foreclosure or, when they opened the door on Friday, there was someone at the door serving papers on them, moving the legal process forward--foreclosure notices. But they joined, yesterday, 8,500 who received their notice the day before and the day before that and the day before that and the day before that and the day before that.
During the process of this legislation moving forward, that we should have passed fairly quickly--within, at the most, a week--hundreds of thousands of people received foreclosure notices. Well, 8,500 families will not receive their foreclosure notices today or tomorrow but only because the courthouses are closed for the weekend. On Monday, the drumbeat of foreclosure will continue.
In Nevada, 1 out of every 43 families who have a home now have their home in foreclosure. It is almost the same in Arizona and almost the same in California and almost the same in Florida. There are only two States in the country that do not have the problem, one of which is the State of Alabama.
But for families who face each day with trepidation because of a foreclosure concern they have, hoping a notice has not arrived, in some fashion--but knowing it may soon--a foreclosure notice is something that is a terrible day in their lives. But today, this Senate will deliver some rare and much-needed good news for people who own homes throughout America. Not only will it help those people who own homes but neighborhoods, communities, States, local governments and servicers and lenders.
We are on the verge of passing a bipartisan housing bill that will help rebuild communities, safeguard future housing meltdowns, and, most importantly, help at-risk families keep their homes. Because of the work in this legislation dealing with Fannie and Freddie, the financial community in America will be stabilized.
It has taken far too long to reach this point where we are today. We have talked about that. The housing bill was introduced in February and work began in the fall of last year.
Now, I have already talked about Senators Dodd and Shelby. During the process of working to get legislation that they thought was appropriate to bring before this body, they both received pressure from their respective caucuses, from editorials: Why aren't they doing something more rapidly? They wanted to bring something to the Senate that would pass. They wanted to work with the House on something that would pass both bodies and be signed by the President. So, again, I underscore the great legislative work these two gentlemen did.
Not only have we had seven cloture votes but we have had Presidential veto threats. Thank goodness those threats have been withdrawn.
As some Republicans have continued to stall, families have continued to lose their homes. And note I said ``some'' Republicans, not all Republicans in the Senate. But today, at long last, a ray of hope--a chance to turn the page on the housing crisis and begin a new chapter that gives more families a chance at the American dream of responsible home ownership.
Now, we are going to move--after we complete legislation on this housing bill--to LIHEAP. We would not have the opportunity to vote on this most important measure, this energy legislation, but for one Senator, a Senator from the sparsely populated State of Vermont, Mr. Bernard Sanders. It is because of his advocacy for months and months that we are going to have an opportunity to vote on this. He has worked on legislation. We have Republicans who support and have agreed to support his legislation. We are going to move to proceed to that.
Now, my friends on the other side of the aisle have expended countless hours of floor time and many barrels of ink talking about the need to do something about energy prices. While they have endlessly talked, the Democrats have been proposing comprehensive solutions.
Yesterday, Republicans refused to join us in a bill to stem the excessive
speculation by Wall Street traders who artificially bid up the price of oil for their own profit. That was a plan Republicans had claimed to support previously. It was part of their legislation. When it came time to take action, the monied interests of this country backed the Republicans down from doing the right thing.
When we offered the Republicans a vote on the very thing they claim to want more than anything--offshore drilling--they passed on that. They said no.
Now, Democrats are proposing improvements to the LIHEAP program. This is yet another bipartisan opportunity to help Americans cope with our energy crisis.
This is something that is a crisis that has been here for a while. Listen to what George Bush, the President of the United States, said. This is a quote:
First and foremost, we've got to make sure we fully fund
LIHEAP, which is a way to help low-income folks, particularly
here in the East, pay for their high--high--fuel bills.
A direct quote from President Bush.
This legislation assists senior citizens, low-income families, and those who are disabled to afford to heat their homes in winter and cool them during excessive periods of heat in summer.
There are not many States like Nevada. In the southern part of the State, in Laughlin, NV, it is not unusual for the temperature to hit 120 degrees. In the northern part of the State, in places such as Owyhee, it is the coldest place in the Nation on many occasions. It is not unusual at all for it to be 20 degrees below zero. These ranges in temperature indicate that if you are old, if you are disabled, if you are poor, you have trouble paying for the fuel costs to cool your home to survive or to heat your home to survive. People who have temperatures above 100 degrees know how important it is to keep their home cool, and people who are freezing know how important it is to keep their house warm.
Since 2001, Americans are paying three times as much for heating oil and twice as much for propane. As these energy costs have skyrocketed, these LIHEAP proposals we have talked about have been hamstrung. These programs are not there to provide the necessary assistance. As the winter months are growing near, this problem will exacerbate. It will grow worse.
This legislation has rightly earned bipartisan support, as I have talked about, with at least a dozen Republican cosponsors of the Senator's legislation. It is regrettable Republicans could force us to waste valuable hours on a cloture vote on proceeding to this legislation--even allowing us to debate the matter. It is unimaginable Republicans might choose to block us from passing this worthy legislation for which President Bush said: ``First and foremost, we've got to make sure we fully fund LIHEAP, which is a way to help low- income folks, particularly here in the East, pay for their high--high-- fuel [costs].''
Well, it is not only folks in the East. It is folks in the West and Midwest and all over this country. I hope they will not stall this. They say they want to legislate on energy. They had the chance yesterday. They did not take that. They have a chance again today. We will soon see what they choose to do.
If Republicans choose to join us in passing LIHEAP, we will welcome their votes, certainly, with open arms. But if they choose to block this legislation, they will have to shoulder the burden of millions of low-income families, senior citizens, and those with disabilities who are struggling and suffering to pay their ever-rising energy bills.
Mr. President, I ask that the vote now occur that is scheduled for 11 o'clock.
I ask for the yeas and nays.
Mr. President, I know everybody is concerned about what is going to happen tomorrow and Monday. We won't know until after the next vote is cast. Within an hour or so after the final vote, all of the offices will know what will happen either tomorrow and/or Monday. We will have more definite information after the next vote.