Floor Statements

Madam President, I would like to ask the chairman of the Finance Committee a question on the application of a provision in the Small Business Jobs Act of 2010.

Section 2042 of the bill will allow self-employed persons to deduct the cost of health coverage for themselves, their spouses, and their children who have not reached age 27 by the end of the year for purposes of determining their liability for self-employment taxes. Is it correct that the provision is not intended to affect the determination of earned income for other purposes? For example, earned income for purposes of determining the maximum amount of health insurance premiums a self-employed person may deduct for income tax purposes is not affected by this provision.

Mr. President, I rise today in honor of the 90th anniversary of women gaining the right to vote on August 26, 1920, and to acknowledge the celebration of this anniversary by the community of Las Cruces, NM.

The struggle for the right to vote began in 1848 at a convention in Seneca Falls, NY, hosted by Lucretia Mott, Mary Ann McClintock, and Elizabeth Cady Stanton. This convention began the seventy-two year struggle by women to win the right to vote, which was also a struggle to rise from second class citizenship and a struggle to gain equality. Women throughout the United States are empowered by the efforts of the brave and pioneering suffragists Susan B. Anthony, Carrie Chapman Catt, and Alice Paul. These women serve as an inspiration to those who secure leadership positions in industry, government, the military, and academia.

Las Cruces was founded in 1849 and became a town of the Territory of New Mexico in 1907. After gaining the right to vote, the women of Las Cruces sought elected office. These women include Bertha Paxton, who was the first female elected to the New Mexico State House of Representatives in 1922, Mrs. E. C. Wade, who was the first female elected as a Trustee in the town of Las Cruces in 1932, Ellen Steele, who was the first female elected as a New Mexico State Senator in 1985 from Dona Ana County and Dolores C. Archuleta who was the first Native American female elected to the Las Cruces City Council in 2001. In continuation of this tradition, the first female Governor will be elected by New Mexicans on November 2, 2010.

To celebrate and commemorate the 90th anniversary of the ratification of the 19th amendment to the U.S. Constitution, women will continue to advocate for responsible and responsive government through the election process. The League of Women Voters of Greater Las Cruces will hold a celebration with an informative panel on women's history of performance and films on the suffragists and the role of women in the political system to further commemorate this praiseworthy day.

I join with the League of Women Voters, the people of Las Cruces, and the people of New Mexico in celebration of this important day, August 26 when women finally won the right to vote and greatly enhanced their great contributions to our government and our society.

Mr. President, today I am introducing two bills, S. 3746 and S. 3759, making improvements to the operation of the Department of Energy's loan guarantee program. The first makes a number of changes that will ease the administration of the program and allow for quicker processing of applications within the Department. In addition, the bill will add a fourth category to the subsidized loan guarantee program created and funded in the American Reinvestment and Recovery Act that would allow energy efficiency projects to gain access to the program. This bill is substantially similar to a provision that the House of Representatives passed last year as a portion of H.R. 2847 but which did not receive consideration in the Senate.

The second bill institutes a time limit on consideration by the Office of Management and Budget of loan guarantee applications submitted by the Secretary. If the Secretary submits a term sheet for conditional commitment to OMB for review and comment, then OMB has 30 days to submit such comments. After 30 days the Secretary may issue a conditional commitment on the guarantee, taking into account any comments received from OMB, without further authorization from OMB. This provision would not affect the currently used OMB-approved subsidy cost model for loan guarantees or its application.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. President, I rise today to introduce the Automatic IRA Act of 2010. When fully phased in, this bill will give nearly 42 million Americans nationwide an easy, effective way to take responsibility for their financial futures and plan for a secure retirement. The act incorporates the President's call, in his proposed fiscal year 2010 and fiscal year 2011 budgets, for Congress to enact automatic IRA legislation.

Currently, about half of American workers have no opportunity to save for retirement at work. In my home State of New Mexico, that share is nearly 60 percent. Among those lacking coverage at work, only 1 in 10 contributes annually to an individual retirement account, IRA; the rest generally make no dedicated savings for retirement. The result? An alarming number of American workers are woefully unprepared for a financially secure retirement. According to Boston College's Center for Retirement Research, ``in 2009 half of today's households will not have enough retirement income to maintain their pre-retirement standard of living, even if they work to age 65, which is above the current average retirement age.'' Especially in this period of economic uncertainty, it is imperative that Congress focus on this retirement savings crisis. My bill takes a commonsense approach to doing so.

Under this bill, most private sector employees working in establishments of 10 or more employees who are not currently covered by a workplace retirement plan would be given the opportunity to save through regular payroll deposits that continue automatically, unless they elect out. The savings will be deposited into the worker's

own IRA, which will be subject to the laws already in place governing IRA accounts. Employers' administrative functions will be minimal. And the arrangement is market oriented; other than the smallest of accounts, automatic IRAs will be provided by the same banks, mutual funds, insurance carriers, and other institutions that currently provide them.

The automatic IRA approach is intended to help these households overcome the barrier of inertia. It builds on the successful use-- encouraged by reforms I strongly supported the Pension Protection Act of 2006--of automatic features in 401(k) plans that encourage employees toward sensible decisions (while allowing them to make alternative choices). We have already seen evidence that automatic 401(k) enrollment can dramatically boost employee participation rates, from seven in ten eligible workers to nine in ten. And in the 401(k) context, the gains are even more striking for population groups least likely to save, including women, Latino, and low-income workers.

Of the 75 million American workers who now are not covered by employment-based retirement plans, an estimated 42 million would be eligible to save and enroll under automatic IRA legislation. This includes more than 250,000 in my home State of New Mexico. Many of these individuals are familiar with IRAs. But when asked why they have not used the existing program, about half point to issues relating to setup and decisionmaking as the key barriers. The automatic IRA would eliminate these barriers, and the Retirement Security Project estimates that automatic IRA legislation could increase net national saving by nearly $15 billion annually.

This is the third consecutive Congress in which I have introduced automatic IRA legislation. The concept was initially developed by scholars at the Brookings Institution and Heritage Foundation. Indeed, the automatic IRA concept has long enjoyed broad support across the political spectrum. For instance, Martin Feldstein, chief economic advisor to President Reagan, has described himself as ``a great enthusiast of automatic enrollment IRAs'' who thinks ``as a policy, it's a no-brainer'' and ``can't imagine why there would be any significant opposition from political players on either side of the aisle.''

Finally, this bill seeks to send a strong signal of preference for employers to offer qualified retirement plans, like 401(k)s. Among other features, it doubles the credit for employers that newly establish qualified plans and it directs the Secretaries of the Treasury and Labor to implement final regulations and establish a model plan for Multiple Employer Plans.

I am grateful that my colleague on the Senate Finance Committee, Senator Kerry, is joining me in introducing this bill. I am also pleased to note the broad range of stakeholders supporting the automatic IRA concept, including AARP; the American Society of Pension Professionals & Actuaries; Aspen Institute's Initiative on Financial Security; the Business and Professional Women's Foundation; CFED; Consumers Union; FINRA; the Minority Business Roundtable; New Economics for Women; the United States Black Chamber; the United States Women's Chamber of Commerce; Women Impacting Public Policy; and the Women's Institute for a Secure Retirement.

Ensuring easy access to a retirement account and the ability to have part of their wages go directly from their paycheck into this account are proven strategies to encourage retirement savings. I call on the Senate to take up this bill in the fall and to include it in legislation extending the 2001 and 2003 tax cuts.

Mr. President, today I am introducing two bills, S. 3746 and S. 3759, making improvements to the operation of the Department of Energy's loan guarantee program. The first makes a number of changes that will ease the administration of the program and allow for quicker processing of applications within the Department. In addition, the bill will add a fourth category to the subsidized loan guarantee program created and funded in the American Reinvestment and Recovery Act that would allow energy efficiency projects to gain access to the program. This bill is substantially similar to a provision that the House of Representatives passed last year as a portion of H.R. 2847 but which did not receive consideration in the Senate.

The second bill institutes a time limit on consideration by the Office of Management and Budget of loan guarantee applications submitted by the Secretary. If the Secretary submits a term sheet for conditional commitment to OMB for review and comment, then OMB has 30 days to submit such comments. After 30 days the Secretary may issue a conditional commitment on the guarantee, taking into account any comments received from OMB, without further authorization from OMB. This provision would not affect the currently used OMB-approved subsidy cost model for loan guarantees or its application.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. President, I rise today to introduce the Automatic IRA Act of 2010. When fully phased in, this bill will give nearly 42 million Americans nationwide an easy, effective way to take responsibility for their financial futures and plan for a secure retirement. The act incorporates the President's call, in his proposed fiscal year 2010 and fiscal year 2011 budgets, for Congress to enact automatic IRA legislation.

Currently, about half of American workers have no opportunity to save for retirement at work. In my home State of New Mexico, that share is nearly 60 percent. Among those lacking coverage at work, only 1 in 10 contributes annually to an individual retirement account, IRA; the rest generally make no dedicated savings for retirement. The result? An alarming number of American workers are woefully unprepared for a financially secure retirement. According to Boston College's Center for Retirement Research, ``in 2009 half of today's households will not have enough retirement income to maintain their pre-retirement standard of living, even if they work to age 65, which is above the current average retirement age.'' Especially in this period of economic uncertainty, it is imperative that Congress focus on this retirement savings crisis. My bill takes a commonsense approach to doing so.

Under this bill, most private sector employees working in establishments of 10 or more employees who are not currently covered by a workplace retirement plan would be given the opportunity to save through regular payroll deposits that continue automatically, unless they elect out. The savings will be deposited into the worker's

own IRA, which will be subject to the laws already in place governing IRA accounts. Employers' administrative functions will be minimal. And the arrangement is market oriented; other than the smallest of accounts, automatic IRAs will be provided by the same banks, mutual funds, insurance carriers, and other institutions that currently provide them.

The automatic IRA approach is intended to help these households overcome the barrier of inertia. It builds on the successful use-- encouraged by reforms I strongly supported the Pension Protection Act of 2006--of automatic features in 401(k) plans that encourage employees toward sensible decisions (while allowing them to make alternative choices). We have already seen evidence that automatic 401(k) enrollment can dramatically boost employee participation rates, from seven in ten eligible workers to nine in ten. And in the 401(k) context, the gains are even more striking for population groups least likely to save, including women, Latino, and low-income workers.

Of the 75 million American workers who now are not covered by employment-based retirement plans, an estimated 42 million would be eligible to save and enroll under automatic IRA legislation. This includes more than 250,000 in my home State of New Mexico. Many of these individuals are familiar with IRAs. But when asked why they have not used the existing program, about half point to issues relating to setup and decisionmaking as the key barriers. The automatic IRA would eliminate these barriers, and the Retirement Security Project estimates that automatic IRA legislation could increase net national saving by nearly $15 billion annually.

This is the third consecutive Congress in which I have introduced automatic IRA legislation. The concept was initially developed by scholars at the Brookings Institution and Heritage Foundation. Indeed, the automatic IRA concept has long enjoyed broad support across the political spectrum. For instance, Martin Feldstein, chief economic advisor to President Reagan, has described himself as ``a great enthusiast of automatic enrollment IRAs'' who thinks ``as a policy, it's a no-brainer'' and ``can't imagine why there would be any significant opposition from political players on either side of the aisle.''

Finally, this bill seeks to send a strong signal of preference for employers to offer qualified retirement plans, like 401(k)s. Among other features, it doubles the credit for employers that newly establish qualified plans and it directs the Secretaries of the Treasury and Labor to implement final regulations and establish a model plan for Multiple Employer Plans.

I am grateful that my colleague on the Senate Finance Committee, Senator Kerry, is joining me in introducing this bill. I am also pleased to note the broad range of stakeholders supporting the automatic IRA concept, including AARP; the American Society of Pension Professionals & Actuaries; Aspen Institute's Initiative on Financial Security; the Business and Professional Women's Foundation; CFED; Consumers Union; FINRA; the Minority Business Roundtable; New Economics for Women; the United States Black Chamber; the United States Women's Chamber of Commerce; Women Impacting Public Policy; and the Women's Institute for a Secure Retirement.

Ensuring easy access to a retirement account and the ability to have part of their wages go directly from their paycheck into this account are proven strategies to encourage retirement savings. I call on the Senate to take up this bill in the fall and to include it in legislation extending the 2001 and 2003 tax cuts.

Mr. President, I yield myself 5 minutes off the Democratic time.

Mr. President, let me first just commend all my colleagues for their eloquent statements

in support of Solicitor General Elena Kagan's nomination, and I join them in that support of her nomination to be an Associate Justice of the U.S. Supreme Court.

I strongly believe Solicitor General Kagan has the skill set, the intellect, and the experience necessary to be an exceptional Justice. She has a diverse legal background, with a distinguished career in government and academia, and she has served as our Nation's top lawyer before the Court. After reviewing her record, as Senator Klobuchar pointed out, I believe Senator Hagan also--and others have pointed out in their comments as well--the American Bar Association unanimously voted that she was ``well qualified'' to serve on the Court, which is the highest ranking the American Bar Association bestows.

I have also met with Ms. Kagan and closely followed her confirmation hearings before the Senate Judiciary Committee. She clearly demonstrated that she has the right temperament for this position and that her legal views are well within the mainstream of judicial thought in this country. Ms. Kagan also affirmed her commitment to interpret the law with fidelity and demonstrated that she understands how the decisions of this High Court have a very real impact on the lives and liberties of Americans.

Ms. Kagan's wide range of experience will serve the country well. She has served as a faculty member at the University of Chicago Law School, as a former dean of the Harvard Law School, as a clerk to former Justice Thurgood Marshall, as a White House aide to former President Bill Clinton, and in her current position as Solicitor General of the United States. In her current position as Solicitor General, she has filed approximately 100 briefs and argued six cases before the Supreme Court. Ms. Kagan has demonstrated sound judgment and has exhibited great skill in the cases she has handled before the Supreme Court.

She has been lauded by individuals across the political spectrum for her ability to build consensus and for her respect for those with differing views. For example, she has received support from eight former Solicitors General from both parties, including Kenneth Starr and Ted Olsen. At Harvard she worked to hire a faculty representing diverse political views, including conservative faculty members in order to ensure that students received a broad perspective on the issues they were studying.

While Ms. Kagan has a great deal of legal experience, much has been said about her lack of judicial experience. Although she has not served as a judge, Ms. Kagan is widely respected in the legal community. She will bring needed diversity to the bench with respect to her legal background. It is important to note that about 40 of the 111 previous Supreme Court Justices who have served did not have judicial experience prior to serving on the Supreme Court, including, I would point out, former Chief Justice William Rehnquist.

I strongly believe Ms. Kagan has the qualifications necessary to be an excellent Justice of the Supreme Court. I urge my colleagues to support her nomination.

Madam President, I yield the floor.

Mr. President, I would like to announce for the information of the Senate and the public that a business meeting has been scheduled before the Committee on Energy and Natural Resources. The business meeting will be held on Thursday, August 5, 2010, at 9:30 a.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of the business meeting is to consider pending legislation.

For further information, please contact Sam Fowler at (202) 224-7571 or Amanda Kelly at (202) 224-6836.

Mr. President, I would like to announce for the information of the Senate and the public that the hearing scheduled before the Senate Subcommittee on Energy has been postponed. The hearing was to be held on Tuesday, August 3, 2010, at 2:30 p.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of this hearing is to examine the role of strategic minerals in clean energy technologies and other applications as well as legislation to address the issue, including S. 3521 the ``Rare Earths Supply Technology and Resources Transformation Act of 2010''.

For further information, please contact Allyson Anderson or Rosemarie Calabro.

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before the Senate Subcommittee on Energy. The hearing will be held on Tuesday, August 3, 2010, at 2:30 p.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of this hearing is to examine the role of strategic minerals in clean energy technologies and other applications as well as legislation to address the issue, including S. 3521 the ``Rare Earths Supply Technology and Resources Transformation Act of 2010''.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record may do so by sending it to the Committee on Energy and Natural Resources, United States Senate, Washington, D.C. 20510-6150, or by e-mail to Rosemarie_Calabro @energy.senate.gov.

For further information, please contact Allyson Anderson or Rosemarie Calabro.

impeachment trial committee on the articles against judge g. thomas

porteous, jr.

Mr. President, I would like to announce for the information of the Senate and the public that a business meeting scheduled before the Committee on Energy and Natural Resources, previously announced for July 15th, has been rescheduled and will not be held on Wednesday, July 21, 2010, at 9:30 a.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of the business meeting is to consider pending legislation.

For further information, please contact Sam Fowler or Amanda Kelly.

Mr. President, I would like to announce for the information of the Senate and the public that a Business Meeting has been scheduled before the Committee on Energy and Natural Resources. The business meeting will be held on Thursday, July 15, 2010, at 10:15 a.m., in room SE-366 of the Dirksen Senate Office Building.

The purpose of the Business Meeting is to consider pending legislation.

For further information, please contact Sam Fowler at (202) 224-7571 or Amanda Kelly at (202) 224-6836.

impeachment trial committee on the articles against judge g. thomas

porteous, jr.

Mr. President, my hometown of Silver City, NM, is in the southwestern corner of our State. It is the county seat, and the largest town for about a hundred miles around. Right on the edge of the Gila Wilderness, it has been called by others, not by just me, ``One of the 100 Best Small Towns in America.''

One of the reasons it is so outstanding is because of the tireless, thoughtful work of Susan Berry. For 36 years, she has been involved in historic preservation work in and around our town, and throughout the State of New Mexico. An early force of the MainStreet Project in Silver City and a longtime member of the Design Review Committee, she has done so much so well, that the New Mexico Historic Preservation Division recently gave her its Lifetime Achievement Award which she earned during a career of preserving the past for the future.

On Saturday of this week, she will retire after decades of service as director of the Silver City Museum. Her accomplishments in that capacity are too numerous to list, but as a result of her vision and skill, that museum has been accredited by the American Association of Museums, one of only thirteen in New Mexico to be so designated.

She has helped make Silver City a significant destination for travelers to the Southwest, and added to the list of reasons that 10,000 people like to call it ``home.'' We are so fortunate that she chose to make the town the focus of her considerable ability and vision for so many years.

Mr. President, today I wish to pay tribute to the extraordinary life of Polly Arango, who died on Saturday, June 26, 2010, in a tragic accident in Alamosa, CO. Her husband, children, grandchildren, family, and friends have lost a very special individual. And New Mexico and the Nation lost a tireless advocate for children, particularly those with disabilities.

Polly spent her life working on behalf of the most vulnerable in our society. Early in her career, she organized programs that allowed American families to adopt orphans from Ecuador. She and her husband John later adopted themselves, providing loving care to a son who had severe developmental difficulties. Shortly thereafter, Polly began her lifelong to work to ensure that other families in similar situations had access to vital education, health care, and support services.

To do so, she cofounded Parents Reaching Out, a nonprofit organization that works with parents, caregivers, educators and other professionals to promote healthy, positive and caring experiences for New Mexico families and children.

Polly also founded and served as the executive director of Family Voices, an advocacy group that strives to bolster both the access and the quality of health care for children with special needs. In her work for Family Voices, she, more than any other leader in the advocacy world, fought for family-centered care for children with disabilities. Her efforts with officials in New Mexico led to many important successes such as establishing the Medically Fragile Children's Program and the New Mexico High Risk Insurance Pool, reducing the school age for children with disabilities, and increasing coverage and services for children in Medicaid Programs.

Polly was very helpful to my staff and me over many years as we worked together on major health reform and education issues. She was in contact with us monthly and even weekly to inform us of developments in New Mexico and across the Nation and she had a wonderful ability to blend an understanding of complex policies with the practical needs of New Mexicans. I know she was particularly heartened by our recent passage of national

health care reform. And, I know she would agree that we all must continue to fight to ensure that the needs of children remain central in our efforts to forge a more effective and equitable health care system.

I extend my sincere condolences to Polly's husband and children, and the entire Arango family.

Mr. President, I would like to announce for the information of the Senate and the public that the hearing before the Subcommittee on Water and Power previously announced for July 1, has been rescheduled and will now be held on Wednesday, July 14, 2010, at 3:30 p.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of this oversight hearing is to examine the Federal response to the discovery of the aquatic invasive species Asian carp in Lake Calumet, Illinois.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record should send it to the Committee on Energy and Natural Resources, United States Senate, Washington, DC 20510-6150, or by email to [email protected].

For further information, please contact Tanya Trujillo or Gina Weinstock.