Floor Statements

Madam President, I ask unanimous consent that the order for the quorum call be rescinded.

Madam President, today I rise in support of the Fraud Enforcement and Recovery Act. I am pleased to be a cosponsor of this legislation, and I thank Senators Leahy and Grassley and the members of the Judiciary Committee for their critical work on this very important effort to increase our capacity to investigate and prosecute the fraudulent activity that has severely weakened our economy and hurt the taxpayer.

Fraudulent lending contributed to the collapse of the mortgage-backed securities market, sending our economy into a tailspin and putting taxpayers on the hook for a huge Wall Street bailout. Taxpayers deserve to know that those fraudulent lenders are being held accountable. And we need to send a message to those who would commit fraud in the future they will also be held accountable.

With their current resources, however, Federal agencies are not able to properly investigate claims of mortgage fraud, which have increased more than 10 times in the past 6 years. With the funding authorized in this bill, the Department of Justice will be able to hire more prosecutors and the FBI will be able to nearly double its mortgage and financial fraud program.

The bill would also allow the Department of Justice to prosecute fraud committed by all mortgage lenders, not just those who are regulated by the Federal Government. Under current law, Federal fraud laws do not apply to nondepository mortgage lenders, which made nearly half of residential mortgages before the housing market collapsed. Including these businesses in the fraud statute will allow the Department of Justice to properly investigate and prosecute fraud in the entire mortgage market.

Last month, I offered an amendment to the budget to expand the capacity of the Housing and Urban Development inspector general to fight mortgage fraud. I was pleased to have the Senate agree with that amendment. Now we have an opportunity to follow up with an explicit authorization of funds to protect vital HUD programs.

The Federal Housing Administration, which a few years ago insured only 2 percent of all new mortgages, now insures roughly a third. Yet the HUD inspector general's office has not expanded. We need to make sure HUD has the resources to properly investigate and remove fraudulent lenders.

With the sharp decline in private mortgage lending, programs such as FHA insurance make home ownership a reality for millions of Americans. By providing HUD with the resources it needs to fight fraud, we will protect FHA's long-term vitality while preventing the taxpayer from footing the bill for another bailout.

Fraud in the financial system greatly contributed to this economic collapse we are experiencing. Every day, taxpayers in New Hampshire and across the country bear the burden of fraudulent activity. I am confident this legislation will help protect those taxpayers by providing the resources and legal tools we need to root out fraud.

I hope my colleagues will join me in support of this bill.

Madam President, I suggest the absence of a quorum.

Mr. President, I wish to express my sympathy over the loss of Marine Cpl Michael W. Ouellette, a 29-year-old native of Manchester, NH. Corporal Ouellette died on March 22, 2009, as a result of injuries sustained from an improvised explosive device while on foot patrol in the Helmand Province of Afghanistan. Another marine was killed in the attack and two others were injured.

Corporal Ouellette graduated from Memorial High School in Manchester in 1999. He joined the Marines in June 2005 and was trained as an infantryman. He served two terms in Iraq, deploying there in March 2006 and again in July 2007. He began his third tour overseas when he deployed to Afghanistan in November 2008. Ouellette was assigned to the 3rd Battalion, 8th Marine Regiment, 2nd Marine Division, II Marine Expeditionary Force out of Camp Lejeune, NC.

Corporal Ouellette served with honor and distinction throughout his highly decorated military career. He received a number of awards for his duty, including the Afghanistan Campaign Medal, the Combat Action Ribbon, the Global War on Terrorism Expeditionary Medal, the Global War on Terrorism Service Medal, the Sea Service Deployment Ribbon, the Iraq Campaign Medal, and the National Defense Service Medal.

New Hampshire is proud of Corporal Oullette's service to and sacrifice for our country. He, and the thousands of brave men and women of the U.S. Armed Forces serving today, deserve America's highest honor and recognition.

Corporal Ouellette is survived by his parents, Donna and Leonard Ouellette, as well as a brother, Alan, and a sister, Stephanie. He will be missed dearly by all those who knew him.

I ask my colleagues to join me and all Americans in honoring U.S. Marine Cpl Michael Ouellette.

Madam President, I ask unanimous consent to set aside the pending amendment, call up my amendment No. 776, and ask for its immediate consideration.

I ask unanimous consent that reading of the amendment be dispensed with.

Madam President, I ask unanimous consent that Senators Kaufman and Mikulski be added as cosponsors.

Madam President, my amendment is simple and straightforward. It would establish a deficit-neutral reserve fund to monitor FHA-approved loans. The Federal Housing Administration, the FHA, plays an increasingly critical role in promoting home ownership during these tough economic times. The FHA insures one-third of all new mortgages. The number of FHA-approved lenders has doubled in the past 2 years. However, the Department of Housing and Urban Development has not received additional resources to expand its efforts to investigate claims of fraud.

Recent reports of a rise in borrowers who haven't made even one payment suggest that fraudulent activity has increased among FHA-backed loans. Should that activity continue to increase, FHA and its critical work could be put at risk. As we all know, in the runup to the subprime crisis, many fraudulent lenders pushed borrowers into mortgages and refinancings that they could not afford just to collect the commissions and fees. We need to make sure we prevent that activity from migrating to federally insured loans which would put taxpayers at risk for footing the bill of another bailout. This amendment addresses the need for HUD to properly investigate and remove fraudulent lenders from the program wherever appropriate. It creates a deficit-neutral reserve fund--a deficit-neutral fund--to increase the capacity of the inspector general of Housing and Urban Development to investigate cases of fraud of FHA loans.

I am hopeful my colleagues will join in this effort and support my amendment. As we all know, at this critical time when we are trying to make sure there are stimulus funds available and that we are doing all we can in Government to support the ability of the private sector to respond to this economic decline we are in, we need to make sure we have the oversight capability to run programs as effectively and efficiently as possible. That is what this amendment would help accomplish.

I yield the floor and suggest the absence of a quorum.

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, I rise today to speak in support of the underlying budget resolution we are considering this week. I first want to thank Chairman Conrad for all of his leadership and for the good work he and his staff have put into developing this budget resolution.

In November, the American people chose a new direction. That is what President Obama and this 111th Congress are working to deliver. I am proud of what we have been able to accomplish so far: an economic recovery package that is already putting Americans back to work and investing in our communities; a children's health insurance bill that expands access to health insurance to 4 million children who will now be able to receive health care services no matter what the circumstances their families face; the Lilly Ledbetter Fair Pay Act, which ensures that all Americans are paid the same regardless of age, gender, race, or ethnicity; a national service bill that taps into the strong desire of Americans to do their part to help our country recover and prosper through voluntarism; a public lands bill, which is the most significant conservation legislation passed by Congress in 15 years.

We are off to a good start, but we all know we still have a lot of challenges to tackle. We have inherited the worst economic crisis in generations, and we need to get our economy back on track. That means finally addressing challenges that have been ignored for far too long. We have the opportunity to begin this process now by passing a comprehensive and sensible budget to guide our next year.

I support the priorities that President Obama has set out for the budget. Like the President, I believe we must reform our health care system. We must move our country toward energy independence. We must expand the promise of education. We must cut our national deficit in half over the next 4 years.

Right now, we spend 16 percent of the national gross domestic product on a health care system that is broken. This is the time--especially now--when we need to reform health care to bring down costs, expand coverage, and improve the quality of the health care coverage that we all receive.

Our Nation can save billions of dollars through health information technology. I am pleased this budget that we are considering builds on the funding in the economic recovery package that has been dedicated to modernizing health care through the use of electronic medical records.

This budget also makes a significant investment in comparative effectiveness research. It is a long name, but what it essentially means is that we need to look at what is working in health care for the least cost, the research on which Dartmouth College in my home State of New Hampshire has been working hard. The Dartmouth Atlas Project has done some of the best research into looking at what is most effective for health care procedures and remedies in the country.

On energy, we all know our national energy strategy has been on an unsustainable course for a very long time. We are overly dependent on foreign oil, and we must begin to address the threats of climate change.

These challenges call for a paradigm shift in the way we produce and use energy. I am pleased the budget we are considering makes investments in clean energy technology, energy efficiency, and recognizes that we have to modernize our energy infrastructure. I believe these investments in clean energy will create new green-collar jobs

at home that will save consumers money.

We also have to invest in education so our children can compete in this global economy. Senator Menendez talked about that very eloquently a little while ago when he talked about his experiences.

I am one of those kids, too, who, without a public system of higher education, would not have been able to go to college. That is why I am pleased the budget resolution we are considering expands opportunities for students to go to college--to go to college and to graduate-- because it increases Pell grants to $5,550 per student and provides education tax incentives for families.

This budget also recognizes the critical importance of the early years in a child's life by providing significant support for early childhood education and title I programs. The long-term strength of our economy is dependent on each of these issues--education, health care, and energy policy. We need to act now to make critical investments to stimulate the economy in the short term. But we also have to do this in a fiscally responsible way that puts us on a path toward reducing our deficit. The budget deficit has been growing for 8 years. This President and this Congress inherited a debt and deficit that are at record highs. We are not going to erase these deficits and debt overnight. But we can work toward significantly cutting the deficit over the next few years. The budget that has been laid out by Senator Conrad and the Budget Committee puts us on an aggressive course toward a balanced budget.

Spending nearly doubled under the previous administration, and revenues have now fallen to the lowest level as a share of our economy since 1950. The Obama administration inherited these record deficits and a national debt that doubled during the 8 years of the Bush administration.

This Congress, this President, and this budget are reversing course and putting our country back on a path to a balanced budget. This budget cuts the deficit by two-thirds by 2014. At the same time, it makes wise investments that will lead to economic growth in the future.

As a former Governor, I understand how important and difficult it is to balance the budget. It takes a lot of hard work, patience, and compromise.

I never expected the New Hampshire State Legislature to rubberstamp my budget when I submitted it. I knew it would change to reflect the interests and priorities of legislators, and that is exactly what is happening in Congress. But I also understand this Congress is going to send a budget back to the President that I believe will contain those priorities that the President supports and that we support as Members of Congress.

Mr. President, I also want to speak about an amendment I intend to offer this week. My amendment is No. 776. It is simple and straightforward. It would establish a deficit-neutral reserve fund to monitor FHA-approved loans. We have to remember that one of the things that got us into this economic mess is what happened in the housing market. Unfortunately, we need to make sure that doesn't continue to happen going forward.

The Federal Housing Administration is playing an increasingly critical role in promoting home ownership during these tough economic times. The FHA now insures about one-third of all new mortgages.

In the runup to the subprime crisis, many fraudulent lenders pushed borrowers into mortgages and refinancing that they could not afford just to collect commissions and fees. We need to make sure we prevent that from migrating now to federally insured loans, which would put taxpayers at risk of footing the bill for another bailout.

The amendment I am going to offer addresses the need for HUD--Housing and Urban Development--to be able to properly investigate and remove fraudulent lenders from the program whenever they deem it appropriate.

As I said, I am confident that we will be able to pass a budget that invests in the future of America. I am hopeful all of our colleagues will join in that effort because I think it is important to strengthen the middle class, restore fiscal discipline, and make the investments that we need to make to ensure that this country is going to continue to be strong and competitive in the future.

I urge my colleagues to support the 2010 budget resolution, and I hope they will also support the amendment I am offering to address potential fraud in the FHA housing market.

I yield the floor and suggest the absence of a quorum.

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, I ask unanimous consent that the Senate proceed to a period for the transaction of morning business, with Senators permitted to speak for up to 10 minutes each.

Mr. President, I ask unanimous consent that Lea Anderson, a detailee with the Environment and Public Works Committee, be granted the privilege of the floor during consideration of Senate Concurrent Resolution 13.

Mr. President, I ask unanimous consent that the Judiciary Committee be discharged from further consideration of and the Senate now proceed to S. Res. 86.

Mr. President, I ask unanimous consent that the resolution be agreed to, the preamble be agreed to, and the motions to reconsider be laid upon the table.

Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of S. Res. 94, submitted earlier today.

Mr. President, I ask unanimous consent that the resolution

be agreed to, the preamble be agreed to, the motions to reconsider be laid upon the table, and that any statements relating to the resolution be printed in the Record, without further intervening action or debate.

Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of S. Res. 95, submitted earlier today.

Mr. President, I ask unanimous consent that resolution be agreed to, the preamble be agreed to, the motions to reconsider be laid upon the table, with no intervening action or debate, and that any statements relating to the resolution be printed in the Record.

Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of S. Res. 96, submitted earlier today.

Mr. President, I ask unanimous consent that the resolution be agreed to, the preamble be agreed to, the motions to reconsider be laid upon the table, with no intervening action or debate, and any statements related to the resolution be printed in the Record.

Mr. President, I ask unanimous consent that when the Senate completes its business today, it adjourn until 10 a.m. tomorrow, Wednesday, April 1; that following the prayer and pledge, the Journal of proceedings be approved to date, the morning hour be deemed expired, the time for the two leaders be reserved for their use later in the day, and the Senate resume consideration of S. Con. Res. 13, the concurrent resolution on the budget.

Mr. President, under an agreement reached earlier today, when the Senate resumes consideration of the budget resolution tomorrow, 20 hours of the statutory time remains, with each side controlling 10 hours.

Mr. President, if there is no further business to come before the Senate, I ask unanimous consent it adjourn under the previous order, following the remarks of Senator Carper.

Mr. President, I suggest the absence of a quorum.

I ask unanimous consent that the order for the quorum call be rescinded.

I ask unanimous consent to set aside the pending amendment so my amendment No. 712 can be called up for consideration.

I ask unanimous consent to set aside the pending amendment so amendment No. 712 can be called up for consideration.

I ask unanimous consent that reading of the amendment be dispensed with.

Mr. President, I appreciate your assistance in moving this amendment forward and certainly appreciate the Senator from South Dakota and, of course, the Senator from Maryland for helping me move forward with this amendment.

I bring this amendment forward on behalf of my colleague from New Hampshire, Senator Gregg, and myself. The Shaheen-Gregg amendment would simply add to the menu of activities that can be included in the Education Corps. It would include musicians and artists to promote arts in education. That, very simply, is the amendment.

I would also like to speak briefly to the pending legislation, S. 277, the Serve America Act. I want to begin by commending my colleagues, Senator Kennedy and Senator Hatch, for their leadership in working on this legislation and bringing it forward and, of course, Senator Mikulski and Senator Enzi for their work in making sure the discussion on this bill can go forward, so hopefully we can pass this legislation this week.

This Serve America Act clearly embodies the spirit of America--a spirit that calls on all of us to give back to our country and to work together to build a nation that can continue to offer endless opportunity to generations to come.

This bill could not come at a more critical time in our Nation's history. More and more people need help getting by in this tough economic climate, while more and more of even the most generous among us have less and less to contribute to charitable activities. That is what makes this legislation so special. It has nothing to do with status, with background, with privilege or circumstance. Every American is equal in their ability to give of themselves and their time. As Martin Luther King said so eloquently: Every American can be great because every American can serve--to paraphrase what he said a little bit. The Serve America Act encourages voluntarism at every stage of life--from students, to full-time workers, to senior citizens.

Throughout American history, the compassion of our people has gotten us

through the most difficult of times. That spirit exists today in communities across America, and the Serve America Act taps into the strong desire of Americans to do their part to help our country recover and prosper.

No deed is too small. While the average American may not be able to save struggling banks from financial crisis, they can help a family to weatherize their home so they can save money on their heating or cooling bills. They can mentor a child so that child can reach his or her greatest potential, so they can hopefully go to college and compete in this global economy.

The Serve America Act will usher in a new era of service and civic engagement in our country, where we can solve our most difficult social challenges by using entrepreneurial spirit to bring about social change. It will build upon great success stories in voluntarism, such as AmeriCorps, by increasing the numbers of volunteers involved in volunteer programs nationwide from 75,000 to 250,000.

It also creates several new volunteer organizations with missions in specific areas of national deed, including a Clean Energy Corps. While Congress works to position America as a leader in clean energy and energy efficiency, this group of volunteers will enhance our efforts by encouraging efficiency and conservation measures in communities and neighborhoods. It is an idea that makes so much sense. In New Hampshire, I know volunteers stand ready, for example, to make homes more energy efficient, or work to preserve our State's many parks, trails, and rivers for future generations to enjoy.

As Governor of New Hampshire, I saw firsthand the difference that programs such as AmeriCorps and other volunteer programs can make. Plus Time New Hampshire is one of those programs. It provides afterschool help to vulnerable students who would otherwise go home to empty houses. And New Hampshire's City Year program has been successful in decreasing the high school dropout rate.

I just point out that City Year was started by a New Hampshire native, Alan Khazei, who, with some of his friends from Harvard, was able to start a wonderful program that has now expanded across the country.

One young volunteer in New Hampshire for City Year, Jennifer Foshey, volunteered at Hampton Academy through the City Year program. During her year of service, she worked with sixth grade boys who were struggling academically and failing most of their classes. Jennifer provided one-on-one academic support, individual mentoring, and encouraged these students to get involved in extracurricular activities.

Because of her hard work, the boys' grades improved dramatically, and one of them joined the community service afterschool club Jennifer ran. He was later quoted in the school paper as saying:

There are kids in our neighborhoods that need help, and

it's our job to help them.

There could not be a better testament to the ripple effect programs such as City Year that are supported in this legislation have in our communities.

I have long been an advocate for national service because I have seen the power of these volunteers--power not only to help those in need but to empower citizens and strengthen communities. There is no question that the Serve America Act expands opportunities for all Americans to become involved in service in a wide range of areas of need.

Today, this amendment I offer will further extend the work of the service corps by offering opportunities for skilled musicians and artists to expand educational opportunity, promote greater community unity, and bridge cultural divides through the use of music and arts engagement.

The Serve America Act is so important to those in New Hampshire and across the country. I am very pleased and honored to join with Senators Kennedy, and Hatch, and Mikulski, to cosponsor such an important piece of legislation that invests in new, innovative solutions to our Nation's most persistent social problems, and I urge my colleagues to join me in support of the Serve America Act. I hope they will also support the amendment Senator Gregg and I are offering.

Mr. President, I yield the floor.

Madam President, I would like to applaud my colleague, Senator Whitehouse, for his comments, particularly around health care. I know all of us believe that is critical for us to address.

I rise to express my outrage that AIG has paid over $165 million in bonuses to executives at the company, after they received a $173 billion bailout in taxpayer funds. We all know the economic conditions we are facing are very difficult. Unemployment continues to climb around the country and in my home State of New Hampshire. Families are struggling to make ends meet. Existing home sales are at their lowest levels in more than a decade. Small businesses around the country and in New Hampshire are working hard just to make payroll, to buy inventory, and to keep their businesses viable. In fact, this morning I heard from a small businessman in New Hampshire, Mark Lane, who is the head of Coed Sportswear and Printed Matter, talk about the challenges he faces in this recession, trying to get access to credit to keep his business going.

Yet while small businesses and middle-class families are struggling to make it through these difficult times, the very people whose reckless decisionmaking helped put us in this precarious economic situation are rewarding themselves with bonuses paid for with taxpayer dollars. This is unconscionable.

We have been told nothing can be done about the bonuses to AIG employees because they are contractual commitments. Yesterday, we heard the CEO of AIG say he has asked the recipients of the bonuses to give the money back. I believe those employees should do that, and I hope they will. But we should make sure that when taxpayer money is used, we have done

everything possible to prevent the kind of excesses we have seen with