Floor Statements

Madam Speaker, it is with great pleasure that I rise today to pay tribute to Valentino W. Nardo, Sr. Mr. Nardo is a fellow Delawarean who has dedicated his life to serving his community in the truest sense of the word.

A man of great compassion, Val is known across Delaware as a champion of the less-fortunate. His organization, Val's Needy Family Fund, began as a food drive which he ran out of his Newark-based barbershop. In 1969, Val's Needy Family Fund was able to provide 10 baskets of holiday meals. The project has grown exponentially over the past 40 years, distributing as many as 1,500 baskets at a time. Each year, Val and his volunteers help prepare and deliver the food baskets, answering calls for emergency aid from churches, social services and organizations.

Val has always been a supporter of the nonprofit Newark Area Welfare Committee, and Val's Needy Family Fund is now formally affiliated with this long-time community organization that stocks food cupboards and provides other avenues of assistance for those in need. The collaboration has allowed Val's Fund to reach more of the people who are most in need and will ensure that Val's dedication to the less- fortunate continues well beyond his lifetime. In 2008, Val was awarded a Jefferson Award for public service. The Jefferson Awards are given annually to honor individuals who make a difference in the community in which they work and live. The bestowal of this award is particularly salient for Val, as recipients of Jefferson Awards are nominated by the public. Val's peers and I firmly agree that he is a shining example of how one person truly can make a difference. And his dedication to the community shows no sign of stopping; each year, he does not sit down to Christmas dinner until all of the holiday food has been distributed. At 90, Val possesses a

commitment and a desire to help others that is not just admirable, but contagious. Indeed, the food drive that was once run out of his shop has grown today to need a warehouse.

In addition to being a committed community member, Val is a loving husband and devoted father. He and his wife, Mary, recently celebrated their 69th wedding anniversary, and Val's family members share in his mission of giving, enabling Val's Needy Family Fund to be a year-round effort. With his dedication to the hungry and less-fortunate, Val has done and continues to do our great state of Delaware an immeasurable service.

On the occasion of the 40th anniversary of Val's Needy Family Fund, I would like to recognize the unequaled devotion of Valentino W. Nardo, Sr. Val has given his time, his energy, and his heart in support of Delawareans. His influence and contributions have reached far and wide, affecting all of our communities. I commend Mr. Nardo for his tireless dedication and look forward to his continued success in serving those in need.

Mr. Speaker, I rise in opposition to the legislation but in strong belief that the vast majority of us in Congress are committed to reducing the skyrocketing costs of health care today and expanding access to insurance coverage for those in need.

Additionally, I am certain that if we focused on the on the many shared bipartisan goals, we could pass a health reform package that took commonsense steps without making financial commitments that this country is unable to afford. Such items include insurance market reforms such as preventing denial of care for preexisting conditions, purchasing insurance across State lines, encouraging regional exchanges between States and portability, small business pooling and tax credits, negotiating drug prices, eliminating the $60 billion in Medicare fraud each year, rewarding efforts to prevent common disease and illness, enrolling those who qualify into existing programs like Medicaid and SCHIP, tax benefits for needy individuals for help purchasing insurance, and limiting abusive lawsuits.

Instead, we are confronted with a bill that overreaches by creating new government programs costing over $1 trillion paid for from tax increases and cuts to Medicare which are more gimmicks than real entitlement reform. Independent analysis of H.R. 3962 continues to show that reforms will result in higher costs for too many patients in addition to increasing the Federal debt which continues to rise dramatically under this Democratic administration and Congress.

Universal health care will not happen overnight. An incremental approach that expands access to health care coverage, contains costs and limits government involvement should be at the forefront of lasting and meaningful program. The process to date has been driven by politics. It is not too late to enact policies that enjoy broad bipartisan support.

Madam Speaker, I have a motion to recommit at the desk.

In its current form, I am, yes.

Madam Speaker, let me just give a little background on all of this. This is not a very complex motion to recommit. This legislation, which I supported, by the way, in its original form, the Credit Card Accountability Responsibility and Disclosure Act of 2009, was negotiated, I think fairly, by the chairman of the committee and various members. It was on a parallel track with what the Federal Reserve was doing as a way of protecting consumers as well.

The legislation took precedence. It was considered in committee, and there was some negotiation about the date on which it would go into effect because of the time it would take for the various credit card companies and others involved in this process to be able to manage all of this. The date that was negotiated was February 22 of next year, 2010. That would have been about 3 or 4 months sooner than what the Federal Reserve had been considering, which I believe was in July of 2010.

In the interim period of time, there has been a lot of work by various people trying to put this into place, and a lot of things have happened in arguments which we've heard on the floor, that is, that some small businesses are being impacted by this, some people have lost credit or whatever, for better or for worse.

But the bottom line is that the various credit card companies have a lot of work to do to implement this, to put their plans into place, and some probably have done it better than others, if I had to guess. The bottom line is that I don't know, I can't judge this. I don't know if they are ready to do this by the date of December 1 or not.

So the motion to recommit is relatively simple. It basically indicates that the governors of the Federal Reserve System within no more than a 1-week period of time should submit a report to us in Congress about whether these provisions under the sections of this bill that would implement it, sections 2 and 3, should go into effect or because of the mechanics of doing this, it should wait until the February 22 date.

That is simply what it does. It doesn't change it. It doesn't alter it. It just speaks to the date of all this going into place. There is a certain fairness issue in this, Madam Speaker, that we have to deal with. Even for those of us who supported this legislation, it seems to me that we're going back on these negotiations.

We're basically telling all the issuers out there, except for the smaller issuers--and I thank the chairman and others who worked on the rule change to eliminate some of the smaller issuers--but having said that, some of the others have to deal with this. They have to deal with their implementation. They have to deal with the question of whether they can do it in that kind of time or not.

As I have indicated, I don't know if any of us here can really stand in judgment of that, and we believe that the Federal Reserve is the best to do that. As a matter of fact, Saundra Bernstein, who is the Fed's own director of consumer affairs, testified at one of our hearings that the reason for this timeline is because card issuers would need to rethink their entire business models to reprogram their systems and redesign their marketing materials, solicitations, periodic statements, and contracts. It's all well and good for us to stand here as Members of Congress and say, Gee, we'll make this change that would benefit consumers or whatever, but it may not be practical.

I would encourage both sides of the aisle to listen to this. Indeed, if the Federal Reserve makes a decision--and I have no idea how they would judge it--but they make a decision that it could be done by December 1, we'll move ahead in that time. If they don't, it will be kept at the original time that was in the bill to begin with. In States like mine, which has a good deal of banking activity, and in States like Connecticut, New York, South Dakota, Nebraska, Rhode Island, the other States that have a lot of banking activity, this has been a very significant issue. They have already lost jobs in the banking world. They continue to.

My judgment is that we do need to give them the time to properly implement acts such as this. My sense is that we should at least review this before that determination is made that we can move it from February 22 to the December 1 date, which is in this legislation.

So I would encourage everybody here to look at this and to support it. It doesn't alter the fact that we are going to have this change. It just takes this date and allows it to be reviewed by people who have some expertise to determine if they should move forward at this point or not. So I would hope that this is a motion which could be considered by both sides of the aisle.

With that, I yield back the balance of my time.

Madam Speaker, I demand a recorded vote.

Madam Speaker, pursuant to the House Republican standards on earmarks, I am submitting the following information regarding funding for Delaware included as part of the final conference report for the FY 2010 Department of the Interior, Environment, and Related Agencies Appropriations Act, H.R. 2996:

Name of Project: Johnson's Corner Sanitary Sewer District Project, Sussex County, DE

Requesting Member: Michael N. Castle

Bill Number: H.R. 2996

Account: EPA-STAG

Legal Name of Requesting Entity: Sussex County Council

Address of Requesting Entity: 2 The Circle, Georgetown, DE 19947

Description of Request: $300,000 to construct wastewater collection and transmission facilities to serve the Johnson's Corner Sanitary Sewer District, located near the Assawoman Bay in Sussex County, DE, which is one of Delaware's inland bays. The purpose of the project is to eliminate failing septic systems and extend wastewater service to over 400 residences, and reduce harmful nutrients from entering the Bay.

Name of Project: Turkey Run Interceptor Improvements, New Castle County, DE

Requesting Member: Michael N. Castle--

Bill Number: H.R. 2996

Account: EPA-STAG

Legal Name of Requesting Entity: New Castle County

Address of Requesting Entity: 87 Reads Way, New Castle, DE 19720

Description of Request: $300,000 to make capital improvements to theTurkey Run Interceptor sewer project. Funding will assist in accelerating the schedule of this critical project so as to provide protection for public health and the environment from problems caused by this failing sanitary sewer interceptor.

Name of Project: Prime Hook National Wildlife Refuge

Requesting Member: Michael N. Castle-

Bill Number: H.R. 2996

Account: USFWS--Land Acquisition

Legal Name of Requesting Entity: Prime Hook National Wildlife Refuge

Address of Requesting Entity: 11978 Turkle Pond Road, Milton, DE 19968

Description of Request: $1,000,000 to support the President's FY2010 Budget request of $1,000,000 from the U.S. Fish and Wildlife Service's Land Acquisition, to acquire a 108-acre tract adjacent to the Prime Hook National Wildlife Refuge in Milton, Delaware. This project would protect a mix of wetlands and upland habitats and provide excellent endangered Delmarva fox squirrel habitat. The tract also provides important access for the Refuge for both recreation and management uses into an area of the Refuge that currently lacks access.

Madam Speaker, I rise today in recognition of October as National Spina Bifida Awareness Month, which aims to bring awareness to the nation's most common permanently disabling birth defect, affecting 3,000 pregnancies every year. New data from the Center for Disease Control and Prevention, CDC, reported this spring, indicates the number of Americans with spina bifida is actually 154,000--double what was previously thought. According to the Delaware Health Statistics Center, approximately one out of every fifty-six babies born in Delaware with birth defects suffers from spina bifida. Spina bifida occurs within the first month of pregnancy and leaves a permanent opening in the spinal column that subsequently impacts nearly every organ system. People with spina bifida face a host of complications, such as physical, developmental, educational and vocational challenges, among others.

The National Institution of Neurological Disorders and Stroke at the NIH supports research on neural tube defects. Studies have shown the addition of folic acid (0.4 mg of folic acid daily) to the diet of women of child bearing age may significantly reduce the incidence of neural tube defects. An estimated 70 percent of neural tube defects, including spina bifida, are preventable through consumption of folic acid prior to pregnancy, and National Spina Bifida Awareness Month plays a critical role in conveying this prevention message to the public. As a 2005 study uncovered, the

current system of care serving people with spina bifida does not fully meet current or anticipated needs, and physicians have little evidence- based research on which to build appropriate treatments. Increasing awareness of spina bifida will also focus attention on the need to expand and intensify evidence-based research to improve the quality of life of those living with spina bifida.

Mr. Christopher Malone, who is a board member of the Spina Bifida Association, visited my Washington office on October 2, 2009 to discuss the challenges facing children with spina bifida. When I listen to accounts from constituents like Christopher Malone, I am reminded of the enormous impact that spina bifida has had not only on those with this condition, but on their family members and friends.

I thank Mr. Malone and the members of Spina Bifida Association for their efforts and leadership over the last 36 years, and for their ongoing commitment to improving the quality of life of people affected by spina bifida. Too many Americans suffer needlessly from this birth defect when many cases are preventable.

Education and awareness, prevention, and research are key. During National Spina Bifida Awareness Month, I hope we will all take the time to learn more about spina bifida and support these endeavors.

Madam Speaker, I am pleased to join Senators Carper and Kaufman in introducing the First State National Historical Park Act, which authorizes a National Historical Park in Delaware. The U.S. National Park Service concluded its Special Resource Study in January 2009 and recommended that such a park be created in Delaware. The National Historical Park would be in partnership with the State celebrating Delaware's early Dutch, Swedish and English Settlements and the events leading up to the state's role in the founding of our nation; it will be comprised of sites associated with early settlement and the people and events leading up to the signing of the U.S. Constitution.

From recreation to exploring history and culture, and discovering the natural resources, the benefits of the National Parks Service are many. I have been pleased to work over the last several years with Senator Carper to advance Delaware's effort in gaining a National Park. With the introduction of the First State National Historical Park Act, Delaware is one step from realizing this goal. A National Historical Park that takes visitors to sites rich in history throughout Delaware will greatly enhance the public's understanding of all the First State has to offer--putting us firmly on the ``park'' map once and for all.

I look forward to working with my colleagues in the House and Senate in passing this important legislation.

Madam Speaker, pursuant to the House Republican standards on earmarks, I am submitting the following information regarding funding for Delaware included as part of the final conference report for the FY 2010 Energy and Water Development Appropriations Act, H.R. 3183:

Name of Project: Delaware Coast, Cape Henlopen to Fenwick Island, Bethany Beach to South Bethany, DE

Requesting Member: Michael N. Castle

Bill Number: H.R. 3183

Account: ACOE--Construction

Legal Name of Requesting Entity: Army Corps of Engineers

Address of Requesting Entity: The Wanamaker Building, 100 Penn Square East, Philadelphia, PA, 19107

Description of Request: $969,000 for the periodic renourishment of the Bethany Beach/South Bethany project area in Sussex County, Delaware. The purpose of this project is to reduce flood and coastal storm damage.

Name of Project: Delaware Coast, Cape Henlopen to Fenwick Island, Rehoboth Beach and Dewey Beach, DE

Requesting Member: Michael N. Castle--

Bill Number: H.R. 3183

Account: ACOE--Construction

Legal Name of Requesting Entity: Army Corps of Engineers

Address of Requesting Entity: The Wanamaker Building, 100 Penn Square East, Philadelphia, PA, 19107

Description of Request: $969,000 for the periodic renourishment of Rehoboth Beach and Dewey Beach in Sussex County, Delaware. The purpose of the project is to reduce flood and coastal storm damage.

Name of Project: Harbor of Refuge, Lewes, DE

Requesting Member: Michael N. Castle

Bill Number: H.R. 3183

Account: ACOE--O&M

Legal Name of Requesting Entity: Army Corps of Engineers

Address of Requesting Entity: The Wanamaker Building, 100 Penn Square East, Philadelphia, PA, 19107

Description of Request: $100,000 to repair and re-enforce the federally owned offshore Harbor of Refuge Breakwater wall that has been badly damaged and weakened by storms. The purpose of the project is to restore the historic breakwater itself and preservation of the lighthouse, which provides sound storm protection for marine interests and erosion protection for the Lewes/Cape Henlopen area shoreline.

Madam Speaker, it is with great pleasure that I rise today to pay tribute to Carol Walton, the outgoing President of the Ladies Auxiliary of the Delaware Volunteer Firemen's Association (LADVFA).

Before her role as President of LADVFA, President Walton previously served as the President of the Ladies Auxiliary of the Elsmere Fire Company and the New Castle County Firefighters Association.

The LADVFA has grown significantly since its inception in 1937. Today, as a result of the leadership and hard work of President Walton and others before her, there are 56 auxiliaries in the State Association--19 from New Castle County, 17 from Kent County, and 20 from Sussex County. Nevertheless, the State Auxiliaries have contributed to the community with the same dedication since the very beginning. The LADVFA provides resources and assistance to burn centers, so-called ``burned out families,'' and scholarship funds for firefighters. They also assist each of their communities with many other worthy causes.

When called to action during alarms, LADVFA assist the firemen by serving meals or snacks while the companies are fighting fires or assisting with another emergency. The service they provide both the fireman and the community are invaluable.

The LADVFA serve such an important function in our community, and to be as effective as possible, they must have dedicated and organized leaders. President Walton has been exactly that over the past year and the State of Delaware and our nation are greatly indebted to her for all of her past and future hard work.

Madam Speaker, it is with great pleasure that I rise today to pay tribute to Warren Jones, the outgoing President of the Delaware Volunteer Firemen's Association (DVFA).

President Jones' career began at the Elsmere Fire Company, where he rose to the rank of Chief and President while serving the town. President Jones' distinguished career did not stop there, however; he then went on to become President of the New Castle County Firefighters Association, as well. After moving from New Castle County to Rehoboth Beach, he became an active member of the Rehoboth Beach Volunteer Fire Company. His continued dedication to serving his community is an inspiration to all Delawareans.

This past January, President Jones had the honor of leading the DVFA contingent in the Inaugural Parade in Washington D.C. I commend President Jones on his exceptional career of service and dedication and I am glad that he had this once-in-a-lifetime opportunity.

Firefighters fulfill a vital need in our society, and to be as effective as possible, they must have dedicated and organized leaders. President Jones has been exactly that over the past year, and the State of Delaware and our nation are greatly indebted to him for all of his hard work.

Madam Speaker, it is with great pleasure that I rise today to pay tribute to Kevin Wilson, the incoming President of the Delaware Volunteer Firemen's Association (DVFA). President Wilson began his career at the Clayton Volunteer Fire Company No. 1, beginning as a junior member, and moving up to Chief before taking on leadership roles in Kent County and the State of Delaware.

President Wilson's life has been dedicated to protecting others. Along with his distinguished career in the Fire Service, President Wilson served with the Delaware State Police as a Trooper Medic. He is currently an investigator for the Delaware State Police's Sex Offender Division.

During the four decades that President Wilson has served his community, he has been recognized by his peers for heroic work. These honors include being named Clayton Fire Company Fireman of the Year in 2006 and co-winner of the State Fireman of the year in 1997.

I commend President Wilson on his exceptional career of tireless dedication and selflessness. DVFA is fortunate to have such a man filling this important role. I am confident that President Wilson's experience and leadership will help DVFA continue on the path of exceptional service for which they are known across our State.

Madam Speaker, it is with great pleasure that I rise today to recognize Lorraine Madden, the incoming President of the Ladies Auxiliary of the Delaware Volunteer Firemen's Association (LADVFA).

President Madden has been a life-long member of the Bowers Fire Company Auxiliary. Like many other members of the Auxiliary and Fire Departments, President Madden's father was the Fire Chief, and her mother was President of the Auxiliary. It has been said that being part of these organizations is like being part of a family--in Lorraine Madden's case, this rings particularly true.

Prior to being elected to this new post, President Madden served as President of the Auxiliary at Bowers and was also the President of the Auxiliary to the Kent County Volunteer Firemen's Association. Her record of service and leadership is commendable, and I believe her worthy of the honor of holding the presidential office.

The LADVFA serves such an important function in our community, and to be as effective as possible, they must have dedicated and organized leaders. I have every confidence that President Madden will provide the LADVFA the leadership it requires and is known for. I wish her the very best in her new role.

I rise not in opposition, but to claim the time in opposition.

Let me first address Mr. Adler's amendment. I think this is actually a very good purpose, and I'm supportive of it. We actually have done something similar to this in the Higher Education Act, in putting people in colleges to help with veterans. I think its purpose is well intended.

I also have examined this legislation carefully. It's gone through our committee, on which I served several times. I think there are some very good aspects to the bill, if you just isolate that and you believe all the numbers that are in there--increasing the Pell Grant limit, simplifying the financial aid process, supporting minority-serving institutions, supporting early childhood education programs, expanding services for veterans, and supporting community colleges and putting money towards deficit reduction. All that is well and good, but I have a couple problems with this legislation.

One is I'm not a hundred percent sure that I believe all the numbers which are being thrown around in terms of the savings. Secondly, I have examined the way student loans are done now, and I have examined the Federal Family Education Loan program, the FFEL program, which is the federally backed student loan program, and I have found that that program serves 4,421 colleges and universities nationally, and close to $68 billion in student loans during the past year, according to the Congressional Research Service; whereas, the Direct Loan Program, which we're shifting to, only serves 1,500 colleges versus the 4,421, and $19 billion versus the $68 billion.

In other words, there's been a decision made by most colleges and universities in this country to go with the existing program, the FFEL program, over the Direct Loan Program, and I worry about what that shift might encounter.

One of the things that's going to happen at a time in which unemployment in this country is 10 percent is there's going to be a loss of jobs in the private sector. The Consumer Bankers Association indicates that this bill threatens approximately 30,000 people's jobs nationwide, and that's all over the country, because various banks make this kind of servicing dollars available and, therefore, have employment in that area. So you're talking about potentially a huge job loss in that area.

I had introduced an amendment before the Rules Committee with Tom Price from Georgia which would have indicated that we should hold this up until we can get a study of the job loss, but that, unfortunately, is not before us today.

But the problem still remains. We're just not certain, Madam Chairwoman, exactly what this will entail. If everything we hear about the bill is absolutely correct and all that money can be saved and the Federal Government is not going to hire a lot more people or mess it up in some other way in terms of the cost savings, there may be a very valid argument for the bill. I think it makes some very good points. But if those things do not prove out--and many things that we talk about here on the floor don't prove out in

practice--I think that would be problematic.

Part of the problem is that you're looking at 30,000 jobs, all of which are at risk. And you can argue about whether its origination or servicing and that kind of thing, but the bottom line is some percentage of those jobs would be at risk.

So I'm supportive of the amendment, to get back to the heart of why we're speaking right now, but I have some serious reservations about where we're going with this legislation at this time for the reasons which I stated.

I reserve the balance of my time.

Madam Chairwoman, how much time do we have left on this side?

I yield myself the remaining time.

I understand well the second speaker, the gentleman from New Jersey, Mr. Andrews, and I think he's right. As I said at the beginning, there are many good aspects to this bill if we can believe all those things are going to come together. As a matter of fact, it's been a little difficult for me to oppose it for that reason, because if these things do happen, that's advantageous.

With all due respect to the authoritative analysis from CBO, I don't always believe everything I hear from CBO. Not that they don't do a good job, but they are anticipating behavior as far as the future is concerned. So I'm not sure if we're going to have $87 billion of savings to spread over all these other things. My hunch is there's going to be a lot of hiring that's going to have to go on to do the origination and servicing which is there.

I'm also very concerned if we take away the origination, which is really what the bill does, as far as the private lenders are concerned, you're going to get left with the servicing, and that's going to mean a substantial reduction in jobs. I'm not suggesting 30,000 jobs. We're going to lose a substantial number, I think, of private sector jobs. I'm just reticent about that for that reason. I would have hoped that we could have had some delay before we go full thrust in this and find out 5 years from now it isn't quite as has been promised.

Again, I do support the amendment, but I have some underlying concerns about the legislation. I respect all that's being stated and, frankly, I hope it's correct, because it could be in the best interest of the future of our government.

With that, I yield back the balance of my time.

Madam Speaker, it is with great pleasure that I rise today to recognize Colonel Thomas F. MacLeish. On July 1, Colonel MacLeish retired from his position as Superintendent of the Delaware State Police after more than 30 years of service to the residents of Delaware.

A graduate of Wilmington University and the F.B.I. National Academy, Colonel MacLeish joined the Delaware State Police in 1977 and quickly rose through the ranks. During his tenure as Superintendent, Colonel MacLeish was tasked with overseeing 671 troopers and over 200 civilian employees. The Delaware State Police flourished under Colonel MacLeish's leadership as he stressed law enforcement with an attitude of professionalism and compassion.

The State of Delaware saw many accomplishments under the leadership of Colonel MacLeish. Some of these include the creation of the Delaware Information & Analysis Center, the initiation of the Child Predator Task Force, the formation of the Sex Offender Apprehension and Registration Unit, and moving the State Bureau of Identification to a larger and updated location at the Blue Hen Corporate Center. Colonel MacLeish also oversaw the formation of the Cultural Diversity Counsel within the State Police. The purpose of this group is to enlighten police officers in various matters of diversity. Additionally, during his tenure with the State Police, Colonel MacLeish served on many councils and organizations such as the Council on Police Training, the Delaware Police Chiefs Council, the International Association of Chiefs of Police, Camp Barnes--which provides underprivileged children the fun, quintessentially American experience of attending summer camp at no cost to the camper or their family--and others.

I thank Colonel Thomas MacLeish for his many years of tireless effort in keeping Delawareans safe. While Colonel MacLeish has been an asset to the State of Delaware and his dedication will be sorely missed, I am confident that even in retirement he will continue to be a pillar of integrity and diligence in our community.

I thank the gentleman for yielding.

Mr. Speaker, I rise in strong opposition to H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act. This overreaching bill, which is being sold as a response to the financial crisis, would, in effect, take away the rights of individual companies to conduct business as they see fit. It places government bureaucrats in charge of making key decisions about how businesses should be run. We can agree that some executives in this country are grossly overpaid; but allowing government to make such determinations is counter to everything that has made our country great. America has always been an economic powerhouse in the world, but this bill restricts competition through government intervention in a way that infringes on the entrepreneurial spirit of this Nation.

Section 4 of H.R. 3269 would actually allow the government to involve itself in the running of private businesses by empowering Federal regulators to prohibit compensation arrangements for all employees of all financial institutions, including banks, bank holding companies, broker dealers, credit unions and investment advisers. Even regulators under the current administration have testified that they do not intend to cap pay or set forth ``precise prescriptions for how companies should set compensation, which can often be counterproductive.'' However, the majority has ignored the administration's wishes by adding section 4 to H.R. 3269.

This bill is a vast overreach and an overreaction to the current financial crisis. Like many, I am concerned that executives at a handful of large companies, like AIG, have been awarded extravagant pay packages and bonuses even after the companies have faced failure and received assistance from the Federal Government to the tune of billions of taxpayer dollars. In these cases, when Federal assistance has been granted, I believe the Federal Government does have a right to mandate the pay structure of these firms, which is why I voted for an amendment during committee consideration of H.R. 3269 to only apply the provisions in the underlying bill to TARP recipients for the amount of time that the TARP money is outstanding. Unfortunately this amendment was rejected, leaving many financial institutions who did not contribute to the current crisis to pay for the mistakes of others.

Finally, this bill undermines the primacy of State corporate governance laws. Corporate law has typically been left up to the States, allowing this diversity to foster competition. Passing this bill would eliminate these traditions, which run against the American free market ideals we have always stood for. For this reason I support Mr. Garrett's amendment to allow State law to preempt the underlying bill.

H.R. 3269 was introduced without a single legislative hearing to examine its far-reaching implications, despite numerous requests from myself and other Members of the Financial Services Committee. I believe this legislation may have unintended consequences on our Nation's businesses, and I urge my colleagues to vote ``no'' on the underlying bill.

Madam Speaker, pursuant to the Republican Leadership standards on earmarks, I am submitting the following information regarding funding benefitting the State of Delaware included in H.R. 3326, the Fiscal Year 2010 Defense Appropriations Act.

Name of Intended Recipient: Delaware National Guard

Location: First Regiment Rd, Wilmington, DE 19808

Requesting Member: Congressman Michael N. Castle

Account: DRUGS

Name of Project: Delaware National Guard Counterdrug Task Force

Project Description: The Act includes $300,000 to provide counterdrug support to federal, state, and local law enforcement agencies and to Community Based Organizations requesting Drug Demand Reduction Assistance. Funding will provide unique military support and resources to our police agencies which enables the police to concentrate more police resources to other priorities in their department. Increased funding from federal appropriations will permit the Delaware National Guard to provide support to open requests from the FBI, Delaware State Police, and local authorities. It will also enable the Delaware Guard to expand its Drug Education Program.

Name of Intended Recipient: WL Gore & Associates

Location: 555 Paper Mill Rd., Newark, DE 19711

Requesting Member: Congressman Michael N. Castle

Account: OM, DW

Name of Project: Special Operations Forces Modular Glove System

Project Description: The Act includes $1,500,000 to accelerate the fielding of the Modular Glove System for U.S. Special Operations Forces (SOF). This is a five piece system that provides the war fighter the necessary protection across a wide range of climactic conditions. Developed to be compatible with the SOF's Protective Combat Uniform designed for frigid conditions, this SOF Modular Glove System provides cold weather protection to -50 degrees as well as waterproof protection in wet conditions. The Special Operations Command has an established requirement for a Modular Glove System to better meet the real-world mission needs of its SOF in a broad range of deployed environments. This funding would accelerate the fielding by about one year to ensure all U.S. SOF forces in theater have access to this high technology, readiness enhancing system.

Name of Intended Recipient: University of Delaware

Location: Hullihen Hall, Newark, DE 19716

Requesting Member: Congressman Michael N. Castle

Account: RDTE, A

Name of Project: Composite Applied Research and Technology for FCS and Tactical Vehicle Survivability

Project Description: The Act includes $1,500,000 to rapidly advance the Technology Readiness Level of existing and promising new ultra- lightweight composites structures and armor for combat and light, medium and heavy tactical vehicle applications. Using heavy materials such as steel and aluminum will continue to result in vehicles that are too heavy to transport and will overload vehicles that reduces life, increases maintenance costs and requires more frequent vehicle replacement. The project is addressing the critical needs of the U.S. Army to protect our soldiers and provide them with the best equipment to carry out their missions. Lightweight composite vehicle structures and armor increase mobility and mission payloads while increasing soldier protection against direct fire, improvised explosive devices and explosively formed penetrators.

Name of Intended Recipient: INVISTA S.a r.l.

Location: 2801 Centerville Road, Wilmington, DE 19808

Requesting Member: Congressman Michael N. Castle

Account: RDTE, A

Name of Project: Improved Thermal Resistant Nylon for Enhanced Durability and Thermal Protection in Combat Uniforms

Project Description: The Act includes $1,500,000 to increase the safety and protection of U.S. soldiers with improved flame resistant, durable, and lower cost materials for the U.S. Army combat uniforms. These improvements will meet an urgent need due to the threat of Improvised Explosives Devices (IED). This project will fund and accelerate research, development, testing, and evaluation for nylon fiber development, fiber formulation, fabric scale up and performance blend specification for U.S. Army combat uniforms.

Name of Intended Recipient: ILC Dover LP

Location: One Moonwalker Road, Frederica, DE 19946-2080

Requesting Member: Congressman Michael N. Castle

Account: RDTE, DW

Name of Project: Joint Services Aircrew Mask Don/Doff Inflight Upgrade Project Description: The Act includes $1,500,000 for research, development, testing, and evaluation of a Joint Services Aircrew Mask, which will provide above the neck Chemical, Biological, and Anti-G protection to DoD aircrew personnel. The mask is a hood that goes over the wearer's head and seals at the neck. This project will enhance our military's mission capability while minimizing performance degradation in chemical and biological contaminated scenarios.

Name of Intended Recipient: Piasecki Aircraft Corporation Location: 2nd Street West, Essington, PA 19029

Requesting Member: Congressman Michael N. Castle

Account: RDTE, N

Name of Project: X-49A Envelope Expansion Modifications

Project Description: The Act includes $4,500,000 to conduct flight demonstrations at New Castle County Airport in Delaware on the Vectored Thrust Ducted Propeller (VTDP) Compound Helicopter technology's potential to increase rotorcraft speed, range, and survivability. These funds will cover the cost of design, fabrication, assembly, instrumentation and check out of propulsion and control system modifications that will enable flight beyond the current operating limits of the baseline conventional helicopter. Many current U.S. combat and humanitarian operations require rotorcraft capabilities well beyond those of existing fleet helicopters.