Floor Statements

Madam Speaker, I want to honor Damaris Devora, a dedicated public servant, as she celebrates her 20 years of service to our communities in Chicago.

For two decades, Damaris has embraced and nurtured everyone that has walked through the doors of the office of Illinois' 4th Congressional District with a sole mission- to provide quality, thoughtful and much needed assistance to anyone that seeks it out.

Damaris proudly hails from Humboldt Park in my district, a community that is as culturally rich and vibrant as she is. She's a daughter of the 4th; from the district through and through. An expert on all things Humboldt Park and Chicago, she'll tell you there is nowhere else she would rather be. Outside of our office, she is a devoted mother and grandmother who fiercely defends, supports and protects her family and loved ones.

Service above self is Damaris' mantra. She is passionate, humble, yet unassuming. She's the type of individual that rocks your world with a clever comment, an astute observation that makes you laugh, or an outburst of joy and energy that is simply contagious. Her coworkers, past and present, love her as much as our constituents do.

The quality of her service to our constituents is truly unrivaled. She has been so effective in helping the federal government work for constituents that people ask for her by name when they need help, often choosing to face wait times rather than leave without seeing or speaking with her. She is, effectively, the embodiment of what public service means.

The amount of individuals she has assisted over the years is impossible to count, but they hail from all parts of Illinois, the United States and even the world. She has fought tirelessly to keep families together and to reunite loved ones from all across the globe. Her service transcends the borders of the 4th Congressional District. There is no greater joy in Damaris's eyes than that of a favorably closed case, signaled by her signature bell ring in the office. When you hear bells in our office, you know Damaris has worked her magic. She deserves a medal for her work, yet she's only motivated by her deep desire to help her community, not by recognition.

Damaris Devora reminds us that a life dedicated to public service is beautiful and rare. This is why Damaris must be celebrated and appreciated. Having good, kind hearted, and selfless people in our team will always be our greatest asset as Members of Congress, and we're lucky to have Damaris on our side. Damaris is an important member of our team, and her abilities and contributions have been crucial to our continued success. I thank Damaris for all that she does. Congratulations on 20 Years of Service.

Madam Speaker, today, I rise to honor Lieutenant Colonel William Luna. He passed away on August 8 of this year and played a significant role in Chicago's Mexican Independence Day Parade for several years.

Born Guillermo Luna, he was raised in East Chicago, Indiana, by his aunt after his parents passed away.

William was a patriot, an educator, and an active member of the community. He was a Green Beret and jumpmaster who served our country in the U.S. Army's 2nd Airborne 505 Infantry and later joined the Army Reserves.

His passion for boxing earned him the U.S. Golden Gloves boxing championship in 1958.

Bill was a fierce advocate for the recognition of the contributions of Latinos, particularly Mexican Americans, in the military.

A lover of history and education, Bill earned a master's degree in English and later became an adjunct professor of Mexican history and minority studies at the Indiana University Northwest.

His knowledge of Mexican-American history led Chicago's Channel 7 to invite Bill to be a cohost of the Mexican Independence Day Parade broadcast for 7 years.

We will always remember him. Rest in peace, Lieutenant Colonel William ``Bill'' Luna.

Madam Speaker, I want to honor Fiesta Del Sol, the largest Latino festival in the Midwest, as it celebrates its 50th Anniversary this month.

Fiesta Del Sol hails from my district in Pilsen--the first neighborhood my parents and siblings found a home in when we arrived from Mexico. Pilsen's been a gateway for countless immigrant families, and it proudly continues to reflect and elevate the Mexican community in Chicago. We gather during the Fiesta del Sol to celebrate the richness of our culture through music, food, and community empowerment.

Born in 1973, Fiesta del Sol was in part the result of the rising political power of the Chicano and Mexican American community. That year, the Pilsen Neighborhood Community Council, a non-profit community-based organization, led a successful campaign to build a new public high school in the heart of the neighborhood, the Benito Juarez Community Academy. The organizers hosted a block party to celebrate this victory, and thus the first Fiesta del Sol was born.

Today, this four-day event attracts more than one million people, spans an eightblock space down Cermak Road, and can be seen from miles around in Chicago because of its Ferris wheel and bright lights. Fiesta del Sol also raises funds to provide scholarships for young people needing assistance as they enter colleges and universities.

In its more than 100 booths you will find some of the best Mexican food in town, as well as artists and artisans who come to showcase their talent. Fiesta also is an opportunity for the community to get information about health care, immigration, environmental justice and college readiness. And while it features popular talent, it has also created opportunities for up-and-coming performers.

Fiesta del Sol has become such a significant event for the Latino community, that a promotional poster for the festival, created by artist Alejandro Romero, is now part of the Smithsonian American Art collection.

As the Mexican community in Chicago has grown and evolved, so has Fiesta del Sol. Organizations like the Pilsen Neighborhood Community Council have expanded their reach, continuing to engage and activate people to address the community needs, training organizers, and neighbors to advocate for themselves, their families and for the benefit of the community as a whole.

Fiesta del Sol reminds us of the rich history of the Mexican community and the remarkable cultural and economic contributions we have brought to Chicago and the Midwest. Let's celebrate its 50th anniversary.

Madam Speaker, I want to honor the Mexican Folkloric Dance Company of Chicago (MDFC), the oldest Mexican dance institution in our city, as it celebrates its 40th Anniversary this month.

Folkloric dance refers to a dance style originating in Mexico, reflecting a diverse array of regions and states, blending a variety of techniques, tempos, music, and cultures to produce an art form as vibrant as the people of Mexico.

Though Mexican folkloric dance is an art form that can be traced back to the ceremonial and social dance practices of indigenous communities, it also has multicultural influences, including Spanish, French and Caribbean, as well as from music and dance styles brought by immigrants from Africa, Asia, and other regions.

Folkloric dances are an expression of Mexican, Mexican American, and regional pride. It has served as a measure of counter-colonialism and. storytelling, as dances often depict symbols, events, and other elements unique to the region that they originate from.

These roots of pride and expression are what inspired the creation of the Mexican Folkloric Dance Company of Chicago in 1982, when two prominent community folk dance groups, Nuevo Ideal and Alma de Mexico merged after performing in the very first Ethnic Heritage Festival at the 1981 Illinois State Fair.

Since 1982 the Mexican Folkloric Dance Company of Chicago has remained an integral part of our community. In its 40-year history, the group has provided free. dance education to hundreds of children, youth, and young adults across the city, providing the opportunity to connect with their Mexican heritage through the art of folkloric dance.

In addition to providing young people with the opportunity to connect, the Mexican Folkloric Dance Company of Chicago has captivated audiences across the state, nation, and globe. They have performed for Presidents in both the U.S. and Mexico, and at major events like the World Cup, the Pan American Games, and Latin Grammys, and alongside performers like Juan Gabriel, Pepe Aguilar, and others.

I commend the Mexican Folkloric Dance Company of Chicago for its contributions to our city's cultural life, and for their consistent engagement of young people into the history, culture, and art of Mexico, all of which form the heart of folkloric dance. Their captivating and vibrant performances serve as a testament to the flourishing Mexican Chicago community, and to the incredible presence it has and will continue to have in the city, state, and across the Nation. Let's celebrate its 40th anniversary.

Madam Speaker, I rise today in celebration of the life of a friend and an outstanding Chicagoan, Vincent ``Vince'' Rangel.

Vince was an immigrant from Mexico who proudly chose to serve his country during the Vietnam war as a member of the U.S. Army, accumulating a long list of decorations, including a Purple Heart, a Bronze Star Medal, the Vietnam Service Medal, and many more.

Vince later served in numerous veterans' organizations in Illinois, becoming a leading advocate for enhanced behavioral health services for veterans.

His service to our community included his work in support of small business as president of the Mexican-American Chamber of Commerce of Illinois and as board member of the U.S.-Hispanic Chamber.

Vince never forgot his roots, serving as president of the Mexican Civic Society of Illinois, helping to promote Mexican history and culture.

My wife, Evelyn, and I send his daughters, Veronica and Jennifer, and his beloved grandchildren, Juan Diego and Victoria, our most sincere condolences.

Madam Speaker, I rise today to honor Mayor Jeffrey Sherwin of the city of Northlake, Illinois for 25 years of service to that city.

Mayor Sherwin, a lifelong resident of Northlake and Leyden Eagle, has dedicated his life to public service.

Prior to becoming mayor in 1997, he served as trustee for Northlake Public Library and Northlake Fire Protection District.

As mayor, he has worked tirelessly to transform the community by putting education, housing, infrastructure, and protecting the environment at the forefront of his effort.

Mayor Sherwin built senior housing, established many new green and recreational spaces, and restored wetlands.

In celebration of 25 years of service, today, we thank Mayor Jeffrey Sherwin for his career of service.

Madam Speaker, I rise today to honor the life of Manuelita Garcia.

Manuelita was a force to be reckoned with, a fierce advocate for justice, a true fighter for the community, and a longtime Little Village resident.

On Mother's Day, 2001, Manuelita launched Madres de la Villita to demand the construction of a promised high school in our neighborhood. I joined her and others as they initiated

a 19-day hunger strike to push the school board to fulfill their promise.

Her organizing led to greater support for educational equity and the eventual opening of the Little Village Lawndale High School.

Manuelita will be remembered for her devotion to the youth of La Villita. She knew that when we invest in youth, we invest in our future. Above all, she will be remembered for her commitment to fairness, justice, and equity.

Manuelita, thank you for your friendship. Rest in power, my friend.

Madam Speaker, I rise today to honor the life of Paulino Villarreal, Sr.

Paulino was a longtime city worker, community volunteer, loving father, and a longtime Pilsen resident. He saw the children of his neighborhood as an extension of his own, holding toy and school supply drives to help them.

Paulino represented what the southwest side of Chicago is all about; hard work, humility, and service to family and community.

Paulino left us with an important lesson: The people we help, the helping hand we extend, is the legacy we leave behind.

Family and friends will remember him for his cheerful outlook on life, his love for the Cowboys, and Tejano music. Above all, Paulino will be remembered for his generosity and his love of service.

I express my deepest condolences to the Villarreal family.

Rest in peace, my friend.

Madam Speaker, I thank Representative Spanberger for organizing this Special Order.

I, like the previous speakers, rise in support of the 340B drug pricing program. This little-known program represents only about 3 percent of the total drug sales in our country, but it is one of the most far-reaching health programs, especially for folks in my district.

Let me share a story of an elderly patient at Erie Family Health Centers, which is based in my district. She had no insurance and struggled to afford her diabetes medication. Sadly, this is far too common in my district. The price jumped to $200, and she could not access her pharmacy during the COVID-19 crisis. But thanks to the 340B program, this patient now pays $9 for her medication, and it is delivered for free, straight to her home.

This patient is not alone. Many Erie patients would not be able to obtain their insulin without the 340B discount. Unfortunately, this program is currently under assault on several fronts. We have to stand up. And we must protect it.

Community health centers are under tremendous pressure to keep their doors open while caring for the most impacted. The timing could not be worse for pharmaceutical manufacturers to undermine such a critical program. The 340B program provides lifesaving medication for nearly 1.5 million patients of Illinois community health centers as well as housing, transportation, care management, and more.

We must defend this crucial program. It is literally a lifeline for communities like mine.

Madam Speaker, I move to suspend the rules and pass the bill (S. 1872) to award a Congressional Gold Medal, collectively, to the United States Army Rangers Veterans of World War II in recognition of their extraordinary service during World War II.

Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and insert extraneous material thereon.

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

Today, I rise in strong support of S. 1872, the Army Rangers Veterans of

World War II Congressional Gold Medal Act. This bill honors the service of the men of the U.S. Army Rangers whose courageous actions in the European, North African, and Pacific theaters during World War II were essential to ensuring victory for the Allied Powers.

At the onset of World War II, there were no U.S. Army units capable of performing highly specialized raiding missions like that of their British Commandos counterparts. To resolve this, Brigadier General Lucian K. Truscott, Jr., proposed the creation of Army Ranger Battalions to General George Marshall. These small, highly specialized, and independent units drew upon existing American expertise, using light infantry units for raids and scouting.

Captain William O. Darby was selected as the 1st Ranger Battalion commander due to his experience in amphibious training and operational experience in both cavalry and infantry. Darby immediately went about recruiting volunteers, 473 of whom became the 1st Ranger Battalion.

Thereafter, the 2nd through 6th Ranger Battalions were formed, along with the 29th provisional Ranger Battalion, comprised of members of the Army National Guard.

The 1st Ranger Battalion was given the initial mission of taking part in the British and Canadian raid in Dieppe in France, making them the first American troops to see ground combat in Europe. Following this raid, the 1st Ranger Battalion operated primarily throughout North Africa and Italy, where they and members of the 3rd Ranger Battalion played a crucial role in the operational success of the Battle of Anzio.

The 29th provisional Ranger Battalion participated in several smaller raids in Norway and France and was then disbanded due to the new formation of the 2nd and 5th Ranger Battalions, who took part in campaigns in France, Belgium, and Central Europe, including Alsace, Brest, and most famously, the invasion of Normandy on D-day.

The 3rd and 4th Ranger Battalions conducted missions across Italy, while the 6th Ranger Battalion engaged in combat in the Pacific theater, primarily in the Philippines and New Guinea. The 6th Ranger Battalion is best known for its part in the rescue of more than 500 prisoners of war in the raid of the prison camp at Cabanatuan, which is the largest rescue operation in American history.

Following the war, all seven Ranger Infantry Battalions received the Presidential Unit Citation for their extensive contributions to the Allied war effort, and I believe their heroism ought to be recognized and rewarded further still.

I urge my colleagues to support S. 1872, and I reserve the balance of my time.

Madam Speaker, I have no further speakers, and I am prepared to close.

Madam Speaker, I reserve the balance of my time until Mr. Hill yields back.

Madam Speaker, I yield myself the balance of my time.

Madam Speaker, I thank the gentlewoman from Iowa, Senator Ernst, for sponsoring S. 1872, along with my colleague, the gentleman from Colorado, Congressman Crow, for introducing its companion version in the House.

The Army Rangers veterans of World War II deserve this accolade for their tireless courage, grit, determination, and dedication to their country. The heroism they demonstrated throughout the war made an incalculable contribution to the Allied victory. They are truly the embodiment of their motto: ``Rangers Lead the Way.''

Madam Speaker, I urge my colleagues to vote ``yes'' on S. 1872, and I yield back the balance of my time.

Madam Speaker, I move to suspend the rules and pass the bill (H.R. 5911) to amend the Federal Deposit Insurance Act and the Federal Credit Union Act to expand employment opportunities for those with a previous minor criminal offense, and for other purposes, as amended.

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

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

Madam Speaker, I rise in strong support of H.R. 5911, the Fair Hiring in Banking Act. I thank the chair of our Subcommittee on Diversity and Inclusion, Congresswoman Joyce Beatty, for this important piece of legislation and the Members of both sides of the aisle who came together to support this bill.

For far too long, American citizens, especially people of color, who have paid their debt to society have continued to face unnecessary barriers to employment within the financial services industry.

Black and Latinx people are over-policed and face harsher prosecution and sentencing than their White peers for the same crimes. Arrest records for such convictions often prevent individuals from securing employment, putting them at higher risk of homelessness and recidivism.

Until recent changes by the FDIC and the NCUA, if a bank or credit union wanted to hire an individual who is highly qualified but happens to have a couple of minor drug possession violations on their record from 30 years ago, they would need to go through a cumbersome process for filing for a waiver from the FDIC or NCUA to allow them to hire this highly qualified individual. This is true whether the job that they are applying for is a janitor or a bank teller.

These kinds of policies created entirely unnecessary and unjustified barriers to employment for highly qualified individuals who have done their time and who deserve to be given a second chance to reintegrate into society.

This bill would codify and expand on these recent changes from the FDIC and NCUA to break down these barriers. In particular, this bill reduces the lookback period for certain criminal charges from an indeterminate timeline to 7 years, or 5 years from the time a person is released from incarceration.

The bill also makes it clear that criminal offenses that have been expunged, sealed, or dismissed are not included in the FDIC or NCUA review of eligibility to work for an insured bank or credit union.

This bill also would build on the administrative changes that FDIC and NCUA have made by providing statutory clarity and the definition of certain crimes of dishonesty that receive special treatment under their rules.

We must ensure that those who have successfully paid their debt to society are not arbitrarily denied job opportunities that they otherwise are qualified to do.

Again, I thank Chair Beatty for introducing this important bill, and I urge my colleagues to join me in supporting it.

Madam Speaker, I reserve the balance of my time.

Madam Speaker, I yield 3 minutes to the gentlewoman from Ohio (Mrs. Beatty).

Madam Speaker, I yield myself the balance of my time.

H.R. 5911 is just the next step toward addressing employment barriers for justice-involved individuals. More must be done, and I am glad that we can agree in a bipartisan manner to provide this opportunity with fair access to employment opportunities at banks and credit unions.

I thank Chair Beatty for this bill, and I again urge my colleagues to join me in supporting this important H.R. 5911.

Madam Speaker, I yield back the balance of my time.

Madam Speaker, I move to suspend the rules and pass the bill (H.R. 5914) to amend the Investor Protection and Securities Reform Act of 2010 to provide grants to States for enhanced protection of senior investors and senior policyholders, and for other purposes, as amended.

Madam 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.

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

Madam Speaker, I rise to voice my support for H.R. 5914, the Empowering States to Protect Seniors from Bad Actors Act. I thank Mr. Gottheimer for introducing this legislation that provides grants to State securities regulators to support programs that protect senior investors. I also thank Mr. McHenry, the minority spokesperson, for working with us on this important bill.

Madam Speaker, seniors are particularly vulnerable to investment frauds, scams, and deceptive practices. In October of last year, in its annual report on elder fraud and abuse, the Department of Justice reported that in 2020 alone, seniors suffered over $1 billion in financial losses due to fraud.

State securities and insurance regulators are on the front lines of protecting our investors. The SEC, with the support of its Investor Advocate and Division of Enforcement, is well placed to evaluate and administer grant programs to bolster State regulators' efforts to better protect senior investors.

This bill is widely supported by investor advocates and State securities regulators, including the North American Securities Administrators Association, the Consumer Federation of America, Public Citizen, and the CFA Institute.

Madam Speaker, I, again, thank Members on both sides for coming together on this bill, and I urge its passage.

Madam Speaker, I reserve the balance of my time.

Madam Speaker, I yield 2 minutes to the gentlewoman from Texas (Ms. Garcia).

Madam Speaker, I yield myself the balance of my time.

Madam Speaker, this is a strongly bipartisan bill aimed to strengthen senior investment protection programs at our States' securities and insurance regulators. It will help protect millions of seniors who are vulnerable to scams and fraudsters.

I thank Mr. Gottheimer for his leadership on this bill, and I yield back the balance of my time.

Madam Speaker, I move to suspend the rules and pass the bill (H.R. 935) to amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies, as amended.

Madam 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 include extraneous material thereon.

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

Madam Speaker, I rise today to urge passage of H.R. 935, the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021. I thank its lead sponsors, Congressman Huizenga, who serves as the ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, as well as Congresswoman Maloney who served as the chairwoman of the same subcommittee last Congress.

Congressman Huizenga and Congresswoman Maloney have come together to put forth a commonsense bill, which provides relief for small and midsize businesses who are looking to merge or sell their companies.

Generally, mergers and acquisitions brokers act as intermediaries who conduct negotiated sales of privately held small- and medium-sized companies. These so-called M&A brokers essentially help facilitate the transfer of ownership and control of such companies to a buyer.

The Securities and Exchange Commission, which oversees brokers, can become involved in these transactions because M&A brokers facilitate securities transactions when they connect a selling company to a buyer.

In 2014, the SEC, via a no-action letter, permitted M&A brokers to effect securities transactions with the transfer of ownership of privately held companies without registering as a broker-dealer. This no-action letter helps to account for the fact that small and midsize businesses have fewer resources to pay for the services of registered broker-dealers, and ultimately do not pose the kinds of potentially systemic risks that larger companies may pose.

H.R. 935 would codify the SEC 2014 no-action letter and will further clarify and simplify the registration regime for M&A brokers, which will reduce costs for buyers and sellers.

H.R. 935 is consistent with the North American Securities Administrators Association's model State regulation for M&A brokers, which exempts M&A brokers from State securities legislation.

Madam Speaker, I again thank Members on both sides for coming together on this bill, and I urge its passage, and I reserve the balance of my time.

Madam Speaker, I have no further speakers and I am prepared to close.

Madam Speaker, I reserve the balance of my time until Mr. Hill yields back.

Madam Speaker, I reserve the balance of my time.

Madam Speaker, I yield myself the balance of my time.

Madam Speaker, I certainly hope the third time is the charm, as the sponsor of the bill has reiterated. H.R. 935 will provide legal certainty to certain financial intermediaries who serve and support small business owners and buyers.

The bill would codify a longstanding no-action letter by the Securities and Exchange Commission. I thank its sponsors, Mr. Huizenga and Mrs. Maloney.

Madam Speaker, I urge the speedy passage by the House, and I yield back the balance of my time.

Madam Speaker, I move to suspend the rules and pass the bill (H.R. 7066) to require United States financial institutions to ensure entities and persons owned or controlled by the institution comply with financial sanctions on the Russian Federation and the Republic of Belarus to the same extent as the institution itself, and for other purposes, as amended.

Madam 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 include extraneous material thereon.

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

Madam Speaker, I rise in support of H.R. 7066, the Russia and Belarus Financial Sanctions Act, sponsored by Congressman Brad Sherman.

Within days of Russia's unjustified and inhumane invasion of Ukraine, President Biden demonstrated strong leadership when he brought our allies together to impose the toughest set of sanctions ever against a major world economy.

The effectiveness of these sanctions will depend in large part on strong enforcement of these restrictions and prohibitions by the U.S. and by our allies.

U.S. financial institutions, including banks, credit card companies, broker-dealers, money service businesses, cryptocurrency exchanges, and mobile wallets, play a pivotal role in the implementation of U.S. sanctions. There is some ambiguity, however, as to whether compliance by U.S. financial institutions extends to foreign entities that they own or control.

Congressman Sherman's bill will clarify that all foreign operations of U.S. financial institutions, including any subsidiaries domiciled outside the United States, must fully comply with all existing sanctions imposed in response to Russia's brutal war against Ukraine.

I thank Congressman Sherman for his good work on this bipartisan bill, as well as Congressman Hill for partnering with him. This is a commonsense clarification to ensure that we are doing all that we can to degrade the Russian economy until it is no longer able to fund its incursion into Ukraine and to show Russia that there are consequences for its actions. For these reasons, I urge my colleagues to support this bill.

Madam Speaker, I reserve the balance of my time.

House of Representatives,

Committee on Agriculture,

Washington, DC, May 6, 2022.

Hon. Maxine Waters,

Chairwoman, Committee on Financial Services, Washington, DC.

Dear Chairwoman Waters: This letter confirms our mutual

understanding regarding H.R. 7066, the Russia and Belarus

Financial Sanctions Act. Thank you for collaborating with the

Committee on Agriculture on the matters within our

jurisdiction.

The Committee on Agriculture will forego any further

consideration of this bill so that it may proceed

expeditiously to the House floor for consideration. However,

by foregoing consideration at this time, we do not waive any

jurisdiction over any subject matter contained in this or

similar legislation. We request that our Committee be

consulted and involved as this bill moves forward so that we

may address any remaining issues in our jurisdiction. The

Committee on Agriculture also reserves the right to seek

appointment of an appropriate number of conferees to any

House-Senate conference involving this or similar legislation

and ask that you support any such request.

We would appreciate a response to this letter confirming

this understanding with respect to H.R. 7066, and request

that a copy of our letters on this matter be published in the

Congressional Record during Floor consideration.

Sincerely,

David Scott,

Chairman.

Madam Speaker, I yield 3 minutes to the gentleman from California (Mr. Sherman).

Madam Speaker, I yield myself the balance of my time. The Russia and Belarus Financial Sanctions Act was passed by our committee with bipartisan support. It provides an important clarification to ensure financial institutions follow the law and implement sanctions on Russia and Belarus.

Madam Speaker, I urge Members to support this bill, and I yield back the balance of my time.

Madam Speaker, I move to suspend the rules and pass the bill (H.R. 7081) to seek immediate bilateral, multilateral, and commercial debt service payment relief for Ukraine, as amended.

Madam Speaker, I ask unanimous consent that all Members have 5 legislative days to revise and extend their remarks and to insert extraneous material thereon.

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

Madam Speaker, I rise in strong support of H.R. 7081, the Ukraine Comprehensive Debt Payment Relief Act which I introduced earlier this year. Ukraine needs significant financial resources to sustain its defense against Putin's brutal invasion, so my bill would provide Ukraine with urgently needed relief from crushing debt payments to international financial institutions like the International Monetary Fund, or IMF, and the World Bank.

Let me provide some context. This year alone Ukraine owes $4.6 billion--more than $20 billion in total--to international institutions. And even as it is under siege from the invading Russian Army, Ukraine still owes payments on that debt. For example, the IMF imposes additional surcharges on countries that already have high levels of debt or are behind on their payments.

Ukraine is one of those countries. So while it fights a war against Russia, Ukraine also owes an estimated $14 million in surcharges to the IMF each month--money that Ukraine desperately needs to defend itself and to provide vital services to its citizens, and, once the war is over, to focus on reconstruction. These surcharges, along with loans and debt payments, will hold Ukraine back not only during this war but for years to come.

Now is not the time for development institutions to come collecting debts, and that is exactly why I introduced the Ukraine Comprehensive Debt Payment Relief Act. My bill would direct U.S. representatives at these institutions to support the immediate suspension of Ukraine's debt payments, direct our government to coordinate comprehensive debt relief for Ukraine from government and commercial creditors, and direct U.S. Representatives to support additional financial assistance for Ukraine on generous terms.

I would also like to note key language that was put forth by Representative Beatty which was included in the bill. The language makes clear that the financial assistance called for in the bill should include economic support for refugees from Ukraine for countries receiving refugees. It specifically includes support for refugees of African descent. African refugees from Ukraine have been experiencing discrimination in the current crisis. According to press reports, there have been incidences where African refugees from Ukraine have been stuck at the border, unable to cross safely while suffering through the cold without food or shelter. By adopting this bill, we will send a strong statement of support to these refugees.

I thank Chair Waters, Ranking Member McHenry, and all those on the Financial Services Committee who helped get this bill to the House floor in a timely manner.

Madam Speaker, I urge support for H.R. 7081, a simple but urgent measure to let Ukraine focus its limited resources on defense, aid, and reconstruction, and I reserve the balance of my time.

Madam Speaker, I yield 1 minute to the gentlewoman from Ohio (Mrs. Beatty).

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

The debt service payment relief for Ukraine called for in H.R. 7081 would be a quick and efficient way to provide financial support for a country that we all want to do everything we can to help. I urge my colleagues to support this legislation, and I yield back the balance of my time.