Floor Statements

Kevin F. McCumber, Clerk of the House, reported and found truly enrolled bills of the House of the following titles, which were thereupon signed by the Speaker pro tempore, Mr. McHenry, on Friday, December 20, 2024:

H.R. 663. An act to amend the Indian Child Protection and

Family Violence Prevention Act.

H.R. 1607. An act to clarify jurisdiction with respect to

certain Bureau of Reclamation pumped storage development, and

for other purposes.

H.R. 1727. An act to amend the Chesapeake and Ohio Canal

Development Act to extend the Chesapeake and Ohio Canal

National Historical Park Commission.

H.R. 2468. An act to require the Secretary of the Interior

to convey to the State of Utah certain Federal land under the

administrative jurisdiction of the Bureau of Land Management

within the boundaries of Camp Williams, Utah, and for other

purposes.

H.R. 3324. An act to extend the authority to collect

Shasta-Trinity Marina fees through fiscal year 2029.

H.R. 4094. An act to amend the Central Utah Project

Completion Act to authorize expenditures for the conduct of

certain water conservation measures in the Great Salt Lake

basin, and for other purposes.

H.R. 4385. An act to extend authorization of the

Reclamation States Emergency Drought Relief Act of 1991.

H.R. 4467. An act to direct the Under Secretary for

Management of the Department of Homeland Security to assess

contracts for covered services performed by contractor

personnel along the United States land border with Mexico,

and for other purposes.

H.R. 5646. An act to amend the Higher Education Act of 1965

to require institutions of higher education to disclose

hazing incidents, and for other purposes.

H.R. 5770. An act to reauthorize certain United States

Geological Survey water data enhancement programs.

H.R. 6826. An act to designate the visitor and education

center at Fort McHenry National Monument and Historic Shrine

as the Paul S. Sarbanes Visitor and Education Center.

H.R. 6843. An act to expand the boundaries of the

Atchafalaya National Heritage Area to include Lafourche

Parish, Louisiana.

H.R. 7177. An act to amend title 28, United States Code, to

consolidate certain divisions in the Northern District of

Alabama.

H.R. 7213. An act to amend the Public Health Service Act to

enhance and reauthorize activities and programs relating to

autism spectrum disorder, and for other purposes.

H.R. 7332. An Act to require the Secretary of the Interior

and the Secretary of Agriculture to convey certain Federal

land to the State of Utah for inclusion in certain State

parks, and for other purposes.

H.R. 7524. An act to amend title 40, United States Code, to

require the submission of reports on certain information

technology services funds to Congress before expenditures may

be made, and for other purposes.

H.R. 8219. An act to require the Secretary of the Interior

to conduct a study to assess the suitability and feasibility

of designating certain land as the Lahaina National Heritage

Area, and for other purposes.

H.R. 8413. An act to provide for the conveyance of certain

Federal land at Swanson Reservoir and Hugh Butler Reservoir

in the State of Nebraska, and for other purposes.

H.R. 8663. An act to require the Science and Technology

Directorate in the Department of Homeland Security to develop

greater capacity to detect and identify illicit substances in

very low concentrations.

H.R. 9566. An act to require governmentwide source code

sharing, and for other purposes.

Kevin F. McCumber, Clerk of the House, further reported and found truly an enrolled bill of the House of the following title, which was thereupon signed by the Speaker on Saturday, December 21, 2024:

H.R. 10545. An act making further continuing appropriations

for the fiscal year ending September 30, 2025, and for other

purposes.

Kevin F. McCumber, Clerk of the House, further reported and found truly enrolled bills of the House of the following titles, which were thereupon signed by the Speaker pro tempore, Mr. McHENRY:

H.R. 82. An act to amend title II of the Social Security

Act to repeal the Government pension offset and windfall

elimination provisions.

H.R. 670. An act to direct the Secretary of Health and

Human Services to establish a website to promote awareness of

available resources for individuals with disabilities, and

for other purposes.

H.R. 1318. An act to authorize the location of a monument

on the National Mall to commemorate and honor the women's

suffrage movement and the passage of the 19th Amendment to

the Constitution, and for other purposes.

H.R. 1555. An act to designate the facility of the United

States Postal Service located at 2300 Sylvan Avenue in

Modesto, California, as the ``Corporal Michael D. Anderson

Jr. Post Office Building''.

H.R. 1823. An act to designate the facility of the United

States Postal Service located at 207 East Fort Dade Avenue in

Brooksville, Florida, as the ``Specialist Justin Dean Coleman

Memorial Post Office Building''.

H.R. 2997. An act to direct the Secretary of the Interior

to convey to Mesa County, Colorado, certain Federal land in

Colorado, and for other purposes.

H.R. 3354. An act to designate the facility of the United

States Postal Service located at 220 North Hatcher Avenue in

Purcellville, Virginia, as the ``Secretary of State Madeleine

Albright Post Office Building''.

H.R. 3391. An act to extend the Gabriella Miller Kids First

Pediatric Research Program at the National Institutes of

Health, and for other purposes.

H.R. 4136. An act to name the Department of Veterans

Affairs community-based outpatient clinic in Plano, Texas, as

the ``U.S. Congressman Sam Johnson Memorial VA Clinic''.

H.R. 4955. An act to name the community-based outpatient

clinic of the Department of Veterans Affairs in Monroeville,

Pennsylvania, as the ``Henry Parham VA Clinic''.

H.R. 4984. An act to direct the Secretary of the Interior

to transfer administrative jurisdiction over the Robert F.

Kennedy Memorial Stadium Campus to the District of Columbia

so that the District may use the Campus for purposes

including residential and commercial development, and for

other purposes.

H.R. 5103. An act to require the Director of the Office of

Management and Budget to approve or deny spend plans within a

certain amount of time, and for other purposes.

H.R. 5443. An act to establish a policy regarding appraisal

and valuation services for real property for a transaction

over which the Secretary of the Interior has jurisdiction,

and for other purposes.

H.R. 5867. An act to designate the facility of the United

States Postal Service located at 109 Live Oaks Boulevard in

Casselberry, Florida, as the ``Colonel Joseph William

Kittinger II Post Office Building''.

H.R. 5887. An act to amend chapter 3 of title 5, United

States Code, to improve Government service delivery, and

build related capacity for the Federal Government, and for

other purposes.

H.R. 6062. An act to restore the ability of the people of

American Samoa to approve amendments to the territorial

constitution based on majority rule in a democratic act of

self-determination, as authorized pursuant to an Act of

Congress delegating administration of Federal territorial law

in the territory to the President, and to the Secretary of

the Interior under Executive Order 10264, dated June 29,

1951, under which the Constitution of American Samoa was

approved and may be amended without requirement for further

congressional action, subject to the authority of Congress

under the Territorial Clause in article IV, section 3, clause

2 of the United States Constitution.

H.R. 6116. An act to designate the facility of the United

States Postal Service located at 14280 South Military Trail

in Delray Beach, Florida, as the ``Benjamin Berell Ferencz

Post Office Building''.

H.R. 6162. An act to designate the facility of the United

States Postal Service located at 379 North Oates Street in

Dothan, Alabama, as the ``LaBruce `Bruce' Tidwell Post Office

Building''.

H.R. 6188. An act to designate the facility of the United

States Postal Service located at 420 Highway 17 North in

Surfside Beach, South Carolina, as the ``Nancy Yount Childs

Post Office Building''.

H.R. 6244. An act to designate the facility of the United

States Postal Service located at 1535 East Los Ebanos

Boulevard in Brownsville, Texas, as the ``1st Lieutenant

Andres Zermeno Post Office Building''.

H.R. 6395. An act to amend the Energy Act of 2020 to

require the Secretary of the Interior to include the

Secretary of Health and Human Services in consultations

regarding designations of critical minerals, elements,

substances, and materials.

H.R. 6492. An act to improve recreation opportunities on,

and facilitate greater access to, Federal public land, and

for other purposes.

H.R. 6633. An act to designate the facility of the United

States Postal Service located at 9355 113th Street in

Seminole, Florida, as the ``Army SSG Ryan Christian Knauss

Memorial Post Office Building''.

H.R. 6750. An act to designate the facility of the United

States Postal Service located at 501 Mercer Street Southwest

in Wilson, North Carolina, as the ``Milton F. Fitch, Sr. Post

Office Building''.

H.R. 6810. An act to designate the facility of the United

States Postal Service located at 518 North Ridgewood Drive in

Sebring, Florida, as the ``U.S. Army Air Corps Major Thomas

B. McGuire Post Office Building''.

H.R. 6852. An act to designate Holcombe Rucker Park, in

Harlem, New York, as a National Commemorative Site, and for

other purposes.

H.R. 6983. An act to designate the facility of the United

States Postal Service located at 15 South Valdosta Road in

Lakeland, Georgia, as the ``Nell Patten Roquemore Post

Office''.

H.R. 7158. An act to designate the facility of the United

States Postal Service located at 201 East Battles Road in

Santa Maria, California, as the ``Larry Lavagnino Post Office

Building''.

H.R. 7180. An act to designate the facility of the United

States Postal Service located at 80 1st Street in Kingsland,

Arkansas, as the Kingsland `Johnny Cash' Post Office''.

H.R. 7365. To provide PreCheck to certain severely injured

or disabled veterans, and for other purposes.

H.R. 7385. An act to designate the facility of the United

States Postal Service located at 29 Franklin Street in

Petersburg, Virginia, as the ``John Mercer Langston Post

Office Building''.

H.R. 74l7. An act to designate the facility of the United

States Postal Service located at 135 West Spring Street in

Titusville, Pennsylvania, as the ``Edwin L. Drake Post Office

Building''.

H.R. 7507. An act to designate the facility of the United

States Postal Service located at 203 East 6th Street in

Lexington, Nebraska, as the ``William E. and Elsie L. Barrett

Post Office Building''.

H.R. 7508. An act to designate the facility of the United

States Postal Service located at 1285 Emancipation Highway in

Fredericksburg, Virginia, as the ``Gladys P. Todd Post

Office''.

H.R. 7606. An act to designate the facility of the United

States Postal Service located at 1087 Route 47 South in Rio

Grande, New Jersey, as the ``Carlton H. Hand Post Office

Building''.

H.R. 7607. An act to designate the facility of the United

States Postal Service located at Block 1025, Lots 18 & 19,

Northeast Corner of US Route 9 South and Main Street in the

Township of Middle County of Cape May, New Jersey, as the

``George Henry White Post Office Building''.

H.R. 7893. An act to designate the facility of the United

States Postal Service located at 306 Pickens Street in

Marion, Alabama, as the ``Albert Turner, Sr. Post Office

Building''.

H.R. 7938. An act to amend the Klamath Basin Water Supply

Enhancement Act of 2000 to provide the Secretary of the

Interior with certain authorities with respect to projects

affecting the Klamath Basin watershed, and for other

purposes.

H.R. 8012. An act to establish the Jackie Robinson Ballpark

National Commemorative Site in the State of Florida, and for

other purposes.

H.R. 8057. An act to designate the facility of the United

States Postal Service located at 9317 Bolsa Avenue in

Westminster, California, as the ``Little Saigon Vietnam War

Veterans Memorial Post Office''.

H.R. 8641. An act to designate the facility of the United

States Postal Service located at 401 Main Street in Brawley,

California, as the ``Walter Francis Ulloa Memorial Post

Office Building''.

H.R. 8666. An act to amend title 28, United States Code, to

authorize holding court for the Central Division of Utah in

Moab and Monticello.

H.R. 8667. An act to rename the community-based outpatient

clinic of the Department of Veterans Affairs in Cadillac,

Michigan, as the ``Duane E. Dewey VA Clinic''.

H.R. 8717. An act to designate the facility of the United

States Postal Service located at 20 West Main Street in

SantaQuin, Utah, as the ``SGT Bill Hooser Post Office

Building''.

H.R. 8841. An act to designate the facility of the United

States Postal Service located at 114 Center Street East in

Roseau, Minnesota, as the ``Floyd B. Olson Post Office''.

H.R. 8868. An act to designate the facility of the United

States Postal Service located 609 Portsmouth Avenue in

Greenland, New Hampshire, as the ``Chief Michael Maloney Post

Office Building''.

H.R. 8909. An act to designate the facility of the United

States Postal Service located at 82-6110 Mamalahoa Highway in

Captain Cook, Hawaii, as the ``Army 1st Lt. John Kuulei

Kauhaihao Post Office Building''.

H.R. 8919. An act to designate the facility of the United

States Postal Service located at 151 Highway 74 South in

Peachtree City, Georgia, as the ``SFC Shawn McCloskey Post

Office''.

H.R. 8976. An act to designate the facility of the United

States Postal Service located at 20 West White Street in

Millstadt, Illinois, as the ``Corporal Matthew A. Wyatt Post

Office''.

H.R. 9076. An act to reauthorize child welfare programs

under part B of title IV of the Social Security Act and

strengthen the State and tribal child support enforcement

program under part D of such title, and for other purposes.

H.R. 9124. An act to name the Department of Veterans

Affairs community-based outpatient clinic in Auburn,

California, as the ``Louis A. Conter VA Clinic''.

H.R. 9285. An act to designate the facility of the United

States Postal Service located at 39l3 Leland Avenue Northwest

in Comstock Park, Michigan, as the ``Captain Miguel Justin

Nava Post Office''.

H.R. 9322. An act to designate the facility of the United

States Postal Service located at 675 Wolf Ledges Parkway in

Akron, Ohio, as the ``Judge James R. Williams Post Office

Building''.

H.R. 9421. An act to designate the facility of the United

States Postal Service located at 108 North Main Street in

Bucoda, Washington, as the ``Mayor Rob Gordon Post Office''.

H.R. 9487. An act to amend the Legislative Reorganization

Act of 1970 to authorize the Legislative Counsel of the House

of Representatives to designate more than one of the

attorneys of the Office of the Legislative Counsel as a

Deputy Legislative Counsel, and for other purposes.

H.R. 9544. An act to designate the facility of the United

States Postal Service located at 340 South Loudon Avenue in

Baltimore, Maryland, as the ``United States Representative

Elijah E. Cummings Post Office Building''.

H.R. 9549. An act to designate the facility of the United

States Postal Service located at 125 South 1st Avenue in

Hillsboro, Oregon, as the ``Elizabeth Furse Post Office

Building''.

H.R. 9580. An act to designate the facility of the United

States Postal Service located at 2777 Brentwood Road in

Raleigh, North Carolina, as the ``Millie Dunn Veasey Post

Office''.

H.R. 9592. An act to amend title 44, United States Code, to

modernize the Federal Register, and for other purposes.

H.R. 9600. An act to designate the facility of the United

States Postal Service located at 119 Main Street in Plains,

Georgia, as the ``Jimmy and Rosalynn Carter Post Office''.

H.R. 9775. An act to designate the facility of the United

States Postal Service located at 119 North Anderson Street in

Elwood, Indiana, as the ``Officer Noah Jacob Shahnavaz Post

Office Building''.

H.R. 10065. An act to designate the facility of the United

States Postal Service located at 802 North Tancahua Street in

Corpus Christi, Texas, as the ``Captain Robert E. `Bob'

Batterson Post Office''.

Mr. Speaker, I move to suspend the rules and pass the bill (S. 4243) to award posthumously the Congressional Gold Medal to Shirley Chisholm.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks and include extraneous material on the bill.

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

Mr. Speaker, I rise in support of S. 4243, a bill that would posthumously award the Congressional Gold Medal to Shirley Chisholm.

On November 5, 1968, Shirley Chisholm, the daughter of Caribbean immigrants, became the first African-American woman in our Nation's history elected to Congress. As she liked to put it, she was ``the first Black woman Congressman.''

Mr. Speaker, 2 years later, she became a founding member of the Congressional Black Caucus. A year after that, she became the first woman and first African American to run for one of the two major parties' Presidential nominations.

Shirley Chisolm has a much longer list of achievements that are quite impressive.

Born on November 30, 1924, in Brooklyn, New York, Chisholm began her career in early childhood education before turning her focus to politics.

Throughout her political career, Chisholm was a no-nonsense advocate. She was willing to fight for her working-class constituents and call out perceived injustices.

Representative Chisholm once remarked: ``I did not come to Congress to behave myself and stay away from explosive issues so I can keep coming back.''

Now, my ranking member on the Financial Services Committee, the former chair of the Financial Services Committee, is equally unbashful in her approach in Congress, and I welcome that. At this point, I will allow the ranking member of the committee to say her words on one of her mentors.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, if I may, I yield 2 additional minutes to the gentlewoman from California (Ms. Lee).

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I yield myself the balance of my time for the purposes of closing.

Mr. Speaker, I have no further speakers, but I will give my ranking member the final word on this subject.

I close with one story that has an impact on me about Shirley Chisholm. We know the story of George Wallace, segregationist, racist, Governor of Alabama, running for the Presidential nomination.

Shirley Chisholm was running for the same nomination. When George Wallace was shot five times while campaigning and then paralyzed, who showed up at the hospital but Shirley Chisholm?

I think of myself as a charitable person. I think of myself as someone who could rise above. We all think that we have that in us, but imagine that. Imagine that somebody who is campaigning to take your rights away, to ensure that you don't have rights that are duly yours under the Constitution, and Shirley Chisholm was the one who showed up at the hospital.

Talk about the charity and the spirit of that. That is so much bigger and so much greater than what we get to see in our common day.

It is those special moments that give a perspective on who this person was. I didn't have the opportunity to know her, but I do get to pass her portrait here in the Capitol Building, and her portrait says it all. It absolutely says it all about who she was. I did not know her, but walking by that portrait, it is very clear who she was.

When she says that she was unbought, unbossed, it is so clear in that portrait.

When she retired in 1983, she returned to education, but she made an indelible mark on this institution, such that, in just her eight terms in this place, she had a lasting impact, such that we have a generation of lawmakers who look at her as an exemplar of who they hope to be and a symbol of what America can be.

Mr. Speaker, I urge adoption of S. 4243 to honor Shirley Chisholm with the Congressional Gold Medal, and I yield back the balance of my time.

Mr. Speaker, I move to suspend the rules and pass the bill (S. 91) to award a Congressional Gold Medal collectively to 60 diplomats, in recognition of their bravery and heroism during the Holocaust.

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

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

Mr. Speaker, I rise in support of S. 91, a bill that would posthumously award the Congressional Gold Medal to the forgotten heroes of the Holocaust and that passed the House in June of this year.

This bill will honor fearless heroes who rescued Jewish citizens who were being hunted by Adolf Hitler and the Nazi regime.

These diplomats from around the world took quick and heroic action to save Jews attempting to flee Europe. They resisted the anti-Semitic Nazi agenda, risking their lives, safety, and successful careers. They risked their own lives to help innocent Jewish people flee persecution.

Despite some receiving direct orders not to help the Jewish population, these diplomats issued passports and travel visas, set up safe houses and getaways to hide adults and children, and communicated with local communities to help fleeing Jews escape by traveling underground to safety.

Because of these actions of these diplomats, hundreds of thousands of Jewish families in Europe escaped death at the hands of Hitler's Nazi regime.

Today, we celebrate these diplomats and honor their lives and actions with the Congressional Gold Medal. Sadly, anti-Semitism is endemic and an unrelenting scourge on history and our society, rearing its ugly head even today, just as it did 80 years ago.

S. 91 honors these diplomats who valiantly defied this systemic hatred by bravely doing what was right to stand up for not only the Jewish community but all of mankind. It is my hope that their courage will continue to inspire Americans today.

I thank Congresswoman Salazar for introducing the House version, as well as Senator Hagerty for making important technical changes and sending this bill back to the House to ensure the final text of the bill is completely accurate.

Mr. Speaker, I support this bill. I urge my colleagues to support it, as well, and I reserve the balance of my time.

Mr. Speaker, I am prepared to close, and I reserve the balance of my time.

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

Mr. Speaker, it is important that this Congress make a statement and remember those valiant people around the globe, those forgotten heroes of the Holocaust, who did so much to save so many.

Their story still has an impact on us today. One of the running themes of our discussions here this evening is the impact of others' lives and the examples of great men and women in our history that we should remember today.

As a statement against anti-Semitism and for the valiant courage of those who were willing to risk their lives to save others, I think this is a very appropriate statement.

Mr. Speaker, I urge my colleagues to support S. 91, and I yield back the balance of my time.

Mr. Speaker, due to unforeseen circumstances, I was unable to cast my votes for H.R. 4866 and H.R. 4755.

Had I been present, I would have voted YEA on Roll Call No. 153 and YEA on Roll Call No. 154.

Mr. Speaker, due to an unforeseen circumstance, I was unable to cast my vote for H.R. 1130. Had I been present, I would have voted YEA on Roll Call No. 405.

Mr. Speaker, due to an unforeseen circumstance, I was unable to cast my votes for H.R. 1157 or H.R. 8333. Had I been present, I would have voted: YEA on Roll Call No. 401, and YEA on Roll Call No. 402.

Mr. Speaker, today I rise to celebrate a few wonderful things that happened in my district this fall.

Mr. Speaker, every September, Cleveland County, North Carolina, celebrates an iconic event that marks the transition to autumn. This year, however, we have a special reason to celebrate. It is because the Cleveland County Fair in Shelby, North Carolina, is reaching an extraordinary milestone: its 100th anniversary.

For a century, the fair has been more than just an event. It has been a cornerstone of our community. It has brought families together, celebrated Cleveland County's rich agricultural heritage, and provided endless entertainment with thrilling rides and fantastic food.

As the leaves turn and the air grows crisp, the fair is the perfect way to welcome the fall season in North Carolina, and if you are a politician running for office, then you need to be there. The fair is a must. I have spent a lot of time shaking hands there over the years.

I am really grateful for the opportunity to interact with people when they are having great family fun. I thank everyone who makes the fair happen, the volunteers and the folks who work the fair.

I congratulate the Cleveland County Fair on its 100th anniversary.

Recognizing Camp Meetings in North Carolina's Tenth Congressional

District

Mr. Speaker, I rise to recognize a unique and longstanding summer tradition in North Carolina's 10th Congressional District: church camp meetings. These annual events date back to the 1800s and are wonderful celebrations of faith, family, and community.

There are three camp meetings in my district not far from where I live: the Balls Creek camp meeting held in Catawba County and the Rock Springs and Tucker's Grove camp meetings which are both held in Lincoln County and very close to where I live in Lincoln County.

All three campgrounds are listed in the National Register of Historic Places.

Camp meetings happen each August and last for up to 2 weeks. Families gather for worship under an arbor which is a central open-air shelter that seats hundreds of people. There are also singings, youth rallies, and plenty of time to visit with family and friends.

Many families, in fact, stay at the campground in wooden cabins known as tents. Ownership of many tents has been passed down for generations.

These are beloved events, and they truly are events. These events were started so many years ago by families of the earliest settlers to the area. Many people who attend are direct descendants of these people of faith who first started gathering more than 150 years ago.

It is important to not just honor our traditions, but to preserve them, and that is what these camp meetings do. The organizers of these camp meetings continue to do that with these important events and timeless expressions of our enduring faith. For that, we honor and thank them.

Mr. Speaker, due to unforeseen circumstances, I was unable to cast my vote for S. Amdt. 227 on July 23, 2024. Had I been present, I would have voted YEA on Roll Call No. 362.

Mr. Speaker, due to unforeseen circumstances, I was unable to cast my votes for S. Amdt. 3249 or H.R. 8812.

Had I been present, I would have voted YEA on Roll Call No. 356, and YEA on Roll Call No. 358.

Mr. Speaker, next month we celebrate the 134th annual Soldiers Reunion celebration in Newton, North Carolina, which I am proud to represent. It is believed to be the longest running patriotic celebration in the country that is not based on a holiday.

Thousands of people will gather for various events including concerts, a car show, a bike ride, and a 5K. The sidewalks will be packed with families from August 10 through 15 for the annual parade and the festival surrounding Newton's 1924 courthouse. It is a special celebration.

Our veterans and active servicemembers will be honored and recognized throughout the week, as they have been recognized since this tradition began in 1889.

I thank and congratulate the citizens of Newton and the local organizations who spend many months each year planning for the Soldiers Reunion. They deserve our recognition for this annual reminder of the debt and gratitude we owe those who serve our Nation.

Mr. Speaker, for purposes of debate only, I yield the customary 30 minutes to the gentlewoman from California (Ms. Waters), the ranking member on the Committee on Financial Services, pending which I will yield myself such time as I may consume.

General Leave

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the veto message of H.J. Res. 109.

Mr. Speaker, I rise in support of overriding President Biden's veto of H.J. Res. 109.

It didn't have to be this way. It did not have to be this way on digital assets, on the regulation of digital assets, on the functioning of a new asset class that a substantial number of Americans, and those around the world, are using, a new set of technology.

The Biden administration has been given every opportunity to work with this Congress on digital asset policy and to come to a reasonable conclusion on digital asset policy.

In May, Congress passed a resolution to overturn the Securities and Exchange Commission's SAB 121 with broad bipartisan support in both the House and Senate. A lot has changed since that time.

Following that vote, the House passed historic digital asset market structure legislation, called FIT21, with an overwhelming two-thirds support of this Chamber. In divided times, a vote like that in this Chamber is a substantial statement of the validity of a policy. That means that 71 members of the President's own party voted for that bill.

Today's vote should mirror the support of FIT21, given that this policy change was also in that legislation they voted for.

SAB 121 is one of the most glaring examples of the regulatory overreach that has defined Chair Gary Gensler's tenure at the Securities and Exchange Commission. It limits consumers' options to safely custody their digital assets, upending decades of bank custody practices and increasing concentration risk.

This is real consumer harm that is now in the marketplace because of these rules that Gensler has put in place.

Congress used the mechanism available to us, the Congressional Review Act, to overturn this harmful so-called guidance. To be clear, a bipartisan CRA sends a strong message. A bipartisan Congressional Review Act vote that passes both Chambers, well, that is a mandate from the Americans we represent.

Despite all the recent progress and bipartisan agreement, President Biden vetoed the first digital asset-specific legislation that ever passed the House and Senate. It has never been clearer that this administration would rather play politics and side with power-hungry bureaucrats over the American people and over new technology and the safe use of new technology.

Mr. Speaker, I urge my colleagues to support today's resolution, overturn the veto, and take a small step to bring sanity to the American digital asset policy landscape.

Mr. Speaker, I reserve the balance of my time.

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

Mr. Speaker, I would like to ask the ranking member to yield. There is this rumor that has been going about that there is this resolution at the SEC with a group of banks, and they are going to let certain banks custody digital assets in some deal that is being made. I have no details of it. The first public pronouncement of this I heard from the ranking member.

I was just wondering, Mr. Speaker, if I could inquire of the ranking member if there is paper on this or any published accounts of what the ranking member said.

Mr. Speaker, I am happy to yield to the ranking member.

I am interested in this deal that she has talked about that certain banks

can custody digital assets and there is a deal made with the Securities and Exchange Commission. The first I heard of this was the pronouncement that the ranking member just made. I am just wondering if there is any published account of this or anything in writing we have from the SEC?

I am happy to yield.

Mr. Speaker, reclaiming my time, I would just say that the idea that Congress is going to wait because you have banks trying to get a special carve-out for themselves from Gary Gensler and the SEC, that is not sound public policy. The idea that Congress is going to wait and pause on overriding the President's veto is really bad policy that harms consumers. Just because we have a rumor that two people are talking or 10 people are talking, that is not the way a great state should do business. A great nation-state with the best capital markets on the globe should not be doing business this way.

We should have clarity under the law that peoples' financial assets are going to be protected, and they are going to be protected in a resilient regime, which we have. We have it for securities. We have it for commodities. We should have it for digital assets, the same protections we have for these other financial assets, and we don't because of the actions of Gary Gensler and the Biden administration that have said that you can't hold these assets in custody. It has made it more risky for consumers to own digital assets.

So let's reject this idea that we just wait for a couple of people to strike some private deal for a group of banks. Let's make this correct. Let's make it right for the American people. Let's vote to override this veto.

Mr. Speaker, I yield such time as he may consume to the gentleman from Nebraska (Mr. Flood), who is the author of the original bill that the President vetoed that we are now voting on again.

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

I have to address this, Mr. Speaker, because there is a lot of gibberish that I just heard about this vote being an endorsement of President Biden or something like that, and I don't want to get into that debate. I don't.

The question of whether or not the President cares about the veto or is going to look through the vote count on this day or whatever else or the politics of what is happening in the hallways here with all my Democratic colleagues being asked about the President, I am trying to withhold from opining about those things.

I see in press reports that the President is really dialed in between 10 and 4 and this vote being at 1 p.m., perhaps he is going to look at the vote total. Perhaps. However, that is all conjecture, and I don't want to get into the conjecture of this stuff. It is not part of the decorum of the House here.

The substance here is about digital assets. What we have shown in this Chamber with a two-thirds vote, 71 Democrats joining with just about every Republican, saying that we want a market structure so that we can develop the next generation of internet technology here in the United States. We want to have consumer protection, safety and soundness ensured so that we can have the best capital markets on the globe, with capital attracted from around the globe here in the United States so it can be deployed safely, and then cutting-edge technologies and digital assets. Just as we had this debate on artificial intelligence, we voted with a two-thirds vote to have a regulatory regime that looks like our capital markets for crypto, and my colleagues, after 21 voted to repeal this stupid accounting--I am sorry--this ill-fitting, ill-designed, poorly thought-out accounting standard that says that crypto is not a real asset and we are going to treat it as this other thing so it can't be in regulated finance. We had 21 Democrats vote with us to repeal this rule. Then we had 71 Democrats vote for a full market structure for crypto.

I would say to those 50 Democrats who voted on the large regulation, the larger regulation package on crypto, look at this anew, and if you want to send a message that you are pro-crypto, if you want to send the message to your voters that you are pro-crypto and you want to protect their assets, those 50 who voted for the market structure but didn't vote for this should vote with us. We should have a two-thirds vote of this House to repeal this ill-designed accounting standard.

This is not a marker of Presidential leadership. What we have heard from this administration is all over the map on what they want to do with crypto, and now they are contorting themselves as the election gets closer.

So let's just do the right thing. Let's support sound policy. Let's override this veto and send a message that America will remain the best place in the world to deploy capital with the best cutting-edge technology with consumer protection and law-abiding rights connected with those digital assets.

Madam Speaker, I would say to my colleague that I am prepared to close, and I reserve the balance of my time.

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

Madam Speaker, I include in the Record a letter of support from the bank trades, the American Bankers Association, the Bank Policy Institute, the Financial Services Forum, and SIFMA, which represents the securities industry in banking, in support of the vote to override the veto.

July 10, 2024.

Re Providing for Congressional disapproval under chapter 8 of

title 5, United States Code, of the rule submitted by the

Securities and Exchange Commission relating to ``Staff

Accounting Bulletin No. 121'' (H.J. Res. 109)

Hon. Mike Johnson,

Speaker, House of Representatives,

Washington, DC.

Hon. Hakeem Jeffries,

Minority Leader, House of Representatives,

Washington, DC.

Dear Speaker Johnson and Minority Leader Jeffries: The

American Bankers Association, Bank Policy Institute,

Financial Services Forum, and Securities Industry and

Financial Markets Association (Associations) write to express

our support for H.J. Res. 109, the Congressional Review Act

resolution of disapproval for the Securities and Exchange

Commission's ``Staff Accounting Bulletin 121.'' H.J. Res. 109

is being led by Reps. Mike Flood (R-NE) and Wiley Nickel (D-

NC) and Sen. Cynthia Lummis (R-WY). Both the House and Senate

passed the measure with a strong bipartisan vote on May 8 and

May 16, respectively. Pres. Biden vetoed the measure on May

31, and we write today to voice our support for the House's

vote later today to overturn the veto of H.J. Res. 109.

In March 2022, the Securities and Exchange Commission's

(SEC) Office of the Chief Accountant released Staff

Accounting Bulletin (SAB) 121, without consulting the

prudential regulators or soliciting public comment, to

address perceived risks to publicly traded companies that

safeguard digital assets for their customers. Under SAB 121,

an entity responsible for safeguarding digital assets

for platform users must measure safeguarding assets and

obligations on its balance sheet at the fair value of the

related assets, which is a departure from accounting

standards and the historical practice of treating custodial

assets as off-balance sheet. As this effectively treats the

custodied assets as those owned by a bank, SAB 121

effectively precludes banks from offering digital asset

custody at scale since placing the value of client assets on

their balance sheets will impact certain capital, liquidity,

and other prudential requirements. Furthermore, SAB 121

undercuts the ability of banks to develop responsible use

cases for distributed ledger technology (DLT) and encumbers

regulated broker-dealers from custody services as a result of

the net capital rule (Rule 15c3-1), which treats the on-

balance sheet items as non-allowable assets.

On February 14, 2024, the Associations sent a joint letter

to the SEC noting that over the past two years SAB 121 has

curbed the ability of our member banks to develop and bring

to market at scale certain digital asset products and

services. This includes spot bitcoin exchange traded products

(recently approved by the Commission for investors) and the

use of DLT to record traditional financial assets (i.e.

tokenization).

SAB 121 represents a significant departure from

longstanding accounting treatment for custodial assets and

threatens the industry's ability to provide its customers

with safe and sound custody of digital assets. Other, non-

bank digital asset platforms subject to SAB 121 are not

required to meet the same capital, liquidity, or other

prudential standards as banks and therefore do not face the

economically prohibitive implications of SAB 121. Limiting

banks' ability to offer these services leaves customers with

few well-regulated, trusted options for safeguarding their

digital asset portfolios and ultimately exposes them to

increased risk.

The Associations respectfully request that Members of the

House vote in favor of overturning the veto of H.J. Res. 109.

Sincerely,

American Bankers Association, Bank Policy Institute,

Financial Services Forum, Securities Industry and Financial

Markets Association.

Madam Speaker, a lot has happened since the original vote in the House in May. A lot has happened. This is an asset class that more Americans own than ever before. This is a new technology being deployed that is going to be the backbone of the next generation of internet technology.

Europeans are establishing a standard and clear rules of the road for crypto and a regulatory regime there. There are clear standards in Japan. There are clear standards in Singapore, the Middle East, and even Hong Kong. There is clarity and rules of the road for crypto.

We had a two-thirds vote in support of clarity for crypto and a full regulatory regime for digital assets, like we have for securities, like we have for commodities, like we have for banking in the United States. These are clear rules of the road, a best-in-class set of regulations for consumers, for those who are creating the technology, who are deploying capital, and for the users of this technology.

Madam Speaker, I know my two colleagues on the other side of the aisle who have spoken in opposition to this veto override voted against that regulatory regime, along with part of their party. I would say we need to look to the wider vote.

Two-thirds of the House voted for a regulatory regime for crypto and clarity for crypto. There were 21 of my Democratic colleagues who voted for this original bill coming out of the House.

Then it went to the Senate, and an interesting thing happened in the Senate. There were 12 Democratic Senators, Senator Wyden, Senator Lujan, Senator Booker, Senator Kelly, Senator Casey, Senator Hickenlooper, Senator Rosen, Senator Tester, Senator Peters, Senator Sinema, and Senator Gillibrand, who represents the capital markets in the United States in New York, and her colleague, New York Senator Schumer, who also happens to be the Democratic majority leader in the Senate.

Madam Speaker, I say to my Democratic colleagues: This is not an unsafe vote to override this President's veto. It is a very safe vote for the minority to say to their constituents: I am pro-crypto, and I will stand up and do the right thing for clarity for crypto.

Madam Speaker, we should have a wide bipartisan vote. We should override this veto. We should provide clarity under law. We should do this for consumer protection, and we should do this to be best in class in the world for digital assets.

Madam Speaker, I ask my colleagues to support this veto override and vote ``yes.''

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

Mr. Speaker, due to unforseen circumstances, I was unable to cast my votes for H.R. 8774, H.R. 8752, or H.R. 8771. Had I been present, I would have voted YEA on Roll Call No. 331, YEA on Roll Call No. 333, and YEA on Roll Call No. 335.

Mr. Speaker, due to unforeseen circumstances, I was unable to cast my votes for the H. Res. 901 or H.R. 7152. Had I been present, I would have voted YEA on Roll Call No. 280, and YEA on Roll Call No. 281.

Mr. Speaker, due to unforeseen circumstances, I was unable to cast my vote for H.R. 2789. Had I been present, I would have voted YEA on Roll Call No. 282.

Mr. Speaker, due to unforeseen circumstances, I was unable to cast my vote for H.R. 2964.

Had I been present, I would have voted YEA on Roll Call No. 249.