Floor Statements

Mr. Speaker, on rollcall No. 854, I was unavoidably detained. Had I been present, I would have voted ``yea.''

Mr. Speaker, on rollcall No. 856 I was unavoidably detained. Had I been present, I would have voted ``yea''.

Madam Speaker, on rollcall No. 857, I was unavoidably detained. Had I been present, I would have voted ``no.''

I thank the gentleman for yielding me the time.

Mr. Speaker, I rise in support of this rule. It is time to act. We cannot afford to wait any longer on regulatory agencies to tweak the rules and regulations, commission further studies, or form another committee.

Since 2008, employment at regulatory agencies is up 13 percent while private-sector jobs have decreased by more than 5 percent. And despite the increased manpower, regulators have been unable to meet deadlines, issue timely rules, or reform unnecessary and outdated regulations.

The cost of starting a business, measured as a percentage of per capita income, has more than doubled since 2007. Even more troubling, according to a new report by the World Bank, the U.S. has fallen to number 13 in terms of ease of starting a business.

To reverse these troublesome trends, it is critical that Congress focus its efforts on eliminating barriers to capital formation. Instead of inhibiting innovation, we must put in place sound policies that harness America's entrepreneurial spirit and spur economic growth.

I am pleased that we are able to join with our friends from the other side of the aisle on today's legislation, which will amend outdated provisions that currently inhibit the ability of small businesses to connect with investors. These bipartisan provisions will allow small businesses to raise essential job-creating capital and reclaim their rightful place as the most vibrant job creators in America.

I want to recognize the gentleman from California and the gentleman from North Carolina for their hard work on these bills, and I encourage all my colleagues to support this rule on the underlying legislation.

I thank the gentleman for yielding.

Mr. Speaker, small businesses are the engine of the American economy, and our legislation will help to provide the boost that they need to create jobs. When I talk to small business leaders in my district, they consistently site burdensome government regulations, restrictions, and their difficulty accessing capital as the primary barriers to growth.

Currently, outdated Federal rules dampen both innovation and investment because the cost of regulatory compliance is just too high for the up-and-coming firms. H.R. 1070, the Small Company Capital Formation Act, will help change that.

The subject of this bill, regulation A, was enacted during the Great Depression to help small businesses access financing. However, these rules have not been properly adjusted over time to reflect the rising cost associated with taking a small company public. As a result, regulation A prohibits smaller companies from taking advantage of a crucial capital-raising vehicle.

H.R. 1070 will reopen the capital markets for small businesses, allowing them to invest and hire new employees. This legislation will jump-start the IPO market and revitalize public capital-raising opportunities that have been severely suppressed over the last decade.

At a time when capital is harder to find than ever, this bipartisan, commonsense proposal will make our financial system work to the benefit of small businesses and promote greater competition in the marketplace.

I thank the gentleman from Arizona for his hard work on this legislation, and I ask my colleagues for their support.

I thank the chairman for yielding to me.

Mr. Speaker, today I rise with great enthusiasm because at long last the House and Senate are poised to act on the most bipartisan, economically compelling jobs bills of the Obama Presidency. By supporting this rule and ratifying these agreements, we are taking a huge step towards leveling the playing field for U.S. goods and services. And in doing so, we can create hundreds of thousands of good- paying jobs right here in America.

And thanks to the pending free trade agreements with Colombia, Panama, and South Korea, the tariffs on many American products will come down immediately, giving a massive boost to our economy at a time when we need it more than ever.

All told, these fair trade agreements would support an estimated quarter-million American jobs and increase exports by $13 million. And my home State of Illinois will be among the first to benefit. Currently, Illinois ranks sixth in the Nation in terms of total exports; 109 companies in my district alone export abroad, and local exports support nearly 65,000 jobs in just DuPage, Cook and Will counties.

These aren't just large manufacturers like Boeing, Navistar, and Kraft; they're also small businesses with a handful of employees. In fact, 90 percent of Illinois exporters are small businesses, exporting everything from computer chips to financial services.

Already, trade with South Korea in my district alone supports 1,137 jobs, and that number has the potential to rise dramatically after this week's agreements go into effect. Now imagine that impact multiplied hundreds of times across congressional districts throughout the Nation.

Mr. Speaker, passing these agreements is one of the most common sense, low cost, and economically sound things that Congress can do right now to boost job growth. And now that the President has finally sent the agreements to Capitol Hill, we must act immediately. I urge my colleagues to support this rule.

Mr. Speaker, I rise today to congratulate the Lemont Fire Department as it celebrates 125 years of service.

In 1886, the town fathers of Lemont adopted an ordinance that created a volunteer fire department that consisted of 22 volunteers split into two companies: the hose company and the hook and ladder company. Since then, the Lemont Fire Department has grown from a handful of volunteers to a force of 85 fire, EMT, administrative, and support personnel. Every day, they protect the towns of Lemont, Darien, Bolingbrook, Homer Glen, and portions of Woodridge, Illinois--an area that is roughly 40 square miles.

In the early years of the Lemont Fire Department, the volunteers had to drag their firefighting equipment to the fires and brave nearly insurmountable odds to save their neighbors. The bravery that inspired those men to save their neighbors is a trait that has come to define the Lemont Fire Department and the men and women who serve in it.

Mr. Speaker, the Lemont Fire Department has worked very hard to become a pillar of service in my congressional district. I would like to join my colleagues in congratulating them for 125 years of distinguished service.

Thank you, Mr. Chairman. And I thank you so much for hosting this Special Order and all the work that you have done.

Given the extraordinary economic challenges that we face, I can't think of a better or more appropriate topic for Congress to be addressing here

today than trade. Let's face it, the pending free trade agreements with Colombia, Panama, and South Korea should have been enacted long ago. And only today, after years of delay, has the White House finally transmitted the agreement to Congress for ratification. As a result, we have been forced to wait while sales and jobs are lost to other countries that do not face the same trade barriers that U.S. exporters face. On many products, tariffs would have come down immediately upon enactment of these FTAs, giving a massive boost to our economy at a time when we need it more than ever.

In my home State of Illinois, I have visited with businesses like Hendrickson, Caterpillar, and Navistar, all major players holding their breath, ready to export millions of dollars of U.S.-made goods to new markets opened by these agreements. Right now in Illinois, a company like Caterpillar has to pay a $200,000 tariff for just one heavy-duty earth mover going into Colombia, while Colombian exports come into the U.S. nearly duty free. That is $200,000 that could instead stay in America with the free trade agreement and supply jobs in my district and nationwide. All told, these FTAs would support an estimated quarter-million American jobs and increase exports by $13 million.

Perhaps most importantly, these aren't temporary or low-wage jobs that will disappear when taxpayer-funded stimuluses run dry. In fact, these exported-related jobs pay an average of 15 to 17 percent more than other comparable jobs and don't cost taxpayers a dime. And the benefits aren't limited to manufacturing. U.S. exports in services and agricultural goods stand to increase by billions of dollars.

Passing these agreements is one of the most common-sense, low-cost and economically sound things that Congress, in the President's own words, ``could do right now'' to boost job growth. And yet only today, after years on the President's desk, has the administration finally sent them to Congress for approval.

Fortunately, the end is in sight. With the agreements now in motion, the House and Senate will at long last have an opportunity in the coming days to pass all three pending agreements. I urge my colleagues to support them.

Mr. Speaker, I rise today to pay tribute to a man who served Illinois, our country, and people from other nations around the world for decades before his death this weekend at age 91. That man is Senator Charles H. Percy of Illinois.

Already, his life, legend, and list of accomplishments as a Senator, a statesman, and a larger-than-life political figure are well documented. Others have articulated these things far better than I could today, and I am confident that history will record them well.

But, Mr. Speaker, what I wish to convey today are the warm and wonderful stories and the testimonies about Chuck Percy that have only come to me from those who knew him and loved him and from those whose views and sentiments I hold in the highest regard. Their stories are not always well suited for publication or for statements on the House or Senate floor; but they are funny, warm, endearing, and genuine. They reflect the incredible love of life, humanity, and humor that made working for or with Senator Percy so incomparable. These volunteers, former Members, and political leaders cannot address the House about him today; but I can, and it is my honor to do so.

They are some of the finest leaders of Illinois today, like State Comptroller Judy Baar Topinka, who launched her first campaign for office years ago after serving as a Percy campaign coordinator. They are State Treasurer Dan Rutherford and U.S. Senator Mark Kirk, who served on the Youth for Percy brigade. They are former Congresswoman and U.S. Labor Secretary Lynn Martin, whose very first campaign as a volunteer was to help elect Chuck Percy. Then you've just heard from Representative Dave Dreier on his reflections of his being with Chuck Percy.

If you talk to them, they will say that his enthusiasm and commitment to making a better State, country, and world are what motivated them to answer the call and launch their own political careers. His energy and enthusiasm, his openness to differing views, and his passion for improvement were infectious. They will tell you of a dark moment of loss or sadness or disappointment in their lives when he was there for them with a loving phone call or note. He was, in a word, an inspiration to all of them.

They are former Illinois Governors Jim Thompson and Jim Edgar, whose natural talents thrived under Chuck Percy's guidance and inspiration. He saw in them the makings of outstanding leaders, and they succeeded in their own rights. He never looked over his shoulder, worrying about those who might challenge his own leadership. He embraced them, encouraged them, and made their success his success. Unlike others in politics today, his generosity to others was boundless and without the slightest hint of envy or competitiveness. With Chuck Percy, there was no zero sum; there were only pluses for everyone.

They also are the other leaders outside of Illinois, like the former HUD Secretary and USTR, Ambassador Carla Hills, who first headed Percy's Alliance to Save Energy in the 1970s when it became clear to Percy that our reliance on foreign oil was unsustainable.

They are former Senator Fred Thompson, in whom Percy saw a brilliant prosecutor and future star of the Senate. They are those who went on to become leaders in their own countries, like the late Prime Minister of India, Rajiv Gandhi and President of Lebanon Rafic Hariri, both of whom strove for peace and tragically were cut down by assassination.

They are Federal district and appellate judges and a Supreme Court Justice, whose service to our country might never have been possible were it not for the fact that Chuck Percy believed in them and believed that the cronyism and corruption in judicial selection must end. He saw in them a commitment to the law, the Constitution, and justice, and with them helped to transform the Illinois bar from one of the most corrupt in the country to one of the most respected.

Last but not least, there are thousands of staff members and volunteers whose lives were forever changed and guided by this dear man whom they referred to simply as ``CHP'' or ``The Senator.'' They are a formidable network of outstanding individuals who are as devoted to him as they are to each other and to public service. Each of them has gone on to do good things because of the confidence that he inspired in them and his belief that everything is possible if only you want to work hard enough for it.

They are my constituents and volunteers. They are my chief of staff, Kathy Lydon, and chief of volunteers, Carolyn Stillman, and many others and all the outstanding people that I have met through their fellowship. They are hundreds of Illinois and Washington businessmen, lawyers, teachers, homemakers, and, yes, even reporters whose lives were forever changed by this very special man.

To a one, they will say, ``There is no one, no one quite like Chuck Percy.''

So today, Mr. Speaker, I want to say to them and to the Percy family, Loraine, Sharon, and Senator Jay Rockefeller, Roger and Penny, Gail and Wade, Mark and Leslee, and all of their wonderful children, grandchildren, and families, our thoughts and prayers are with you. We thank you for sharing this wonderful man with us, with the people of Illinois, America, and the world.

Mr. Chair, I rise today in support of H.R. 2218, the Empowering Parents through Quality Charter Schools Act.

While there is no silver bullet to resolve all the problems facing our nation's education system, this bill represents a critical step toward better preparing our children to meet the challenges of a 21st century economy. It is also the first major element of reform to be acted on this year by either chamber of Congress.

We all want our kids to be able to attend a great school. It's like my father told me, ``If you have a good education, you can accomplish anything.''

That's why transparent and accountable charter schools are so important. They ensure greater access among our children to the high- quality education they deserve. Moreover, charter schools often operate in flexible and innovative ways that promote student success.

Unfortunately, demand for these opportunities continues to outpace supply. Over 400,000 U.S. students remain on waiting lists for enrollment in charter schools.

That's why I support H.R. 2218, which contains provisions that will remove barriers to the establishment of charter schools, improve academic performance, and reduce the number of students waiting for admission. This legislation also establishes commonsense quality controls that will protect students and taxpayers alike. The bill requires accurate assessments of schools though independent financial audits, and establishes clear academic and performance standards.

Following passage in the House, this bill will be sent to the Senate, where I hope it receives the consideration it deserves. And, should it be signed into law, I will continue to work with my colleagues to monitor its impact and ensure that our nation's charter school system continues to reflect the transparency and accountability required by this legislation.

I thank the gentleman for yielding.

Mr. Speaker, it's been a long road and one with more uncertainty than the American people should have to put up with. Fortunately, the ugly part of the process is behind us, and it's time to come together behind a realistic deal that will restore strength to the economy and deliver peace of mind to the American public.

I believe that this is that deal. It's not perfect, but with a majority in just one Chamber, House Republicans negotiated a compromise that will be part of the debt solution, not part of the debt problem. It will stop a job-killing default, but cut spending even more. And it will hold Congress and the President accountable with automatic spending cuts and a guaranteed vote on the balanced budget amendment. Most importantly, it doesn't raise taxes--something that would damage our recovery.

We have changed the conversation. The President is no longer asking for a blank check; he is negotiating with us to cut spending. This is how we'll end this spiral of debt that is draining our economy of capital, competence and jobs.

I thank my colleagues on both sides of the aisle who have contributed to this discussion, and I urge them to support this bipartisan deal. Let's get the job done.

I thank the gentleman for yielding.

Mr. Speaker, there is not a single Member of Congress or the administration who did not know that this day was coming. Washington was spending tax dollars faster than ever before, and the debt ceiling was caving in.

The question is: How do we respond? Do we protest? Do we argue? Or do we govern?

Last November, the voters asked for change. That's how this House stopped the largest tax increase in history and cut spending this year to levels not seen since 2008.

Today, we have the opportunity to take the next step by passing the Budget Control Act. This is a balanced compromise that will avert a default and stop the cycle of debt that is draining our economy. It makes nearly $1 trillion in immediate cuts--more than the debt increase--caps future spending, and lays the groundwork for additional savings in a balanced budget amendment.

In a perfect world, some of us would like more cuts. Those on the left also want a bigger plan--or at least a big enough debt increase to carry the President beyond the next campaign.

But the American people care about jobs, not politics. They want solutions that will restore confidence, credit, and growth in the United States. And neither a default nor a 2-year budget gimmick will accomplish that task. This bill will.

I urge my colleagues on both sides to recognize that good politics is about doing what's right for the American people. Let's take this opportunity, cut spending, and put America back on a sound fiscal path to prosperity.

Mr. Speaker, I offer a privileged resolution and ask for its immediate consideration.

Mr. Chairman, I rise in support of H.R. 1315, which would prevent the most visible legacy of the Dodd-Frank Act from also becoming the most costly and regrettable.

Today's legislation will provide the new agency with accountable leadership, proper oversight, and a much needed check against bad decisions. American consumers don't need more bureaucracy to stifle innovation and raise costs. We need regulators to understand that the job isn't just to layer on expensive new rules. It's about educating consumers and preserving a vibrant and competitive financial market that provides affordable and innovative options.

Unfortunately, the current structure of the bureau is subject to virtually no oversight from Congress or anyone else. And unlike other agencies, even the Consumer Product Safety Commission on which it is modeled, it is led by a single czar who has unprecedented power.

Even more dangerous, the Financial Stability Oversight Council must agree by a two-thirds majority before they can overturn a rule imposed by the CFPB, even if that rule threatens to imperil our economy or shut down a financial institution.

Mr. Chairman, our commonsense reform adds a few more voices to a panel that is supposed to protect all consumers, not just those favored by the political powers that be, and it creates a reasonable process to overturn bad or inconsistent decisions.

Mr. Chairman, these reforms will help protect consumers and ensure that the government doesn't stand in their way.

Thank you, and I thank you for doing this.

I think that we've got such great women that have come into this Congress in this last term and are really, you are all moving forward and really, I think, setting the tone for what's going to happen in the future, and I appreciate that.

But, you know, it is time for America to live within its means. I got an email from a constituent from Lockport, Illinois recently, and she wrote to me imploring Congress to say no, no to all personal income tax increases. And she further explains that she's a single mom. Just think of how many single moms are out there having to work to keep their kids clothed and in school and keep her home going.

She said that she is a single mom, struggling to keep her home, raise her son, and pay her bills. She says, I cannot pay any more taxes. I will lose everything. There are so many like that out there.

A gentleman from Downers Grove, Illinois, wrote to me and said, it's sad to see the constant disagreement in Washington over almost all issues, including national security, foreign affairs, et cetera. But the budget must be controlled. This is the hard-earned money of American taxpayers that must be spent wisely. Less is better.

We must live on budgets and not be able to borrow whenever we run out of money, as the gentlelady just said. We don't have a credit card. Most people don't have the credit card that they can go and get their limit raised. Neither should we. We have to cut taxes and stop spending. So let's get people back to work so that this country can prosper and be great again.

For too long the government spent the taxpayers into a debt that they can not afford. And despite trillions in the so-called stimulus, the economy has grown only weaker as a result.

So consider these troubling statistics. Our tax burden is approaching the

highest levels in our country's history and is expected to rise. Unless we take action now, it could exceed 20 percent of GDP in just 3 years, a record we've only seen once in 35 years.

Similarly, household taxes are excessively high. Even in the slow economy, at over $18,000 last year, the average household tax burden has almost doubled in the last 50 years. What's worse is that the interest on our debt for 1 year is equal to the entire budgets of the Departments of Labor, Agriculture, and Veterans Affairs combined.

In individual terms, it means that each American's share of our debt is over $46,000. When I think of my family and future generations, this means that my nine grandchildren would collectively owe over $414,000 if they had to pay their share of our debt today. Before my youngest grandson graduates from college, he would owe $103,000 on our national debt. This is unacceptable. And that's why we took this first step to address the crisis yesterday by passing the Cut, Cap, and Balance Act. And our colleagues across the aisle would argue that this plan goes too far by restricting future borrowing. But the reality is that this bill simply caps spending at the same sustainable rates as past generations, about 20 percent of GDP, a post World War II average. No more and no less.

Don't we care as much about our children and grandchildren as our parents did? I do, and so do the people who sent us here to Congress. So we need to show our creditors, our competitors, and the American people that we are willing to make the tough choices needed to restore confidence and growth in the United States.

I'm so proud of all the women that are participating in this and are really making a difference and showing that we can move forward and balance our budget and live within our means like families across America.

I thank you for leading this effort.