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Everything Richard C. Shelby said on the floor, from the Congressional Record
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Showing 15 of 358 statements
- Senate Floor·July 11, 2018·p. S4890-S4891
- Senate Floor·June 25, 2018·p. S4353-S4364
Energy And Water, Legislative Branch, And Military Construction And Veterans Affairs Appropriations Act, 2019
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, before we vote this afternoon, I want to thank my colleagues in the Senate, provide a status update on the appropriations processes…
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.
Mr. President, before we vote this afternoon, I want to thank my colleagues in the Senate, provide a status update on the appropriations processes before us, and urge the Senate to stay the course.
First, I thank Leaders McConnell and Schumer for bringing this package to the floor and facilitating an open amendment process.
I also thank the bill managers--particularly Senator Alexander--for their work in crafting strong bipartisan bills and keeping the process on track.
In addition, I express my appreciation to Senator Leahy, the vice chairman of the Appropriations Committee. Vice Chairman Leahy is a man of his word, and that has been essential to the committee's ability to move bills.
Finally, I thank all of my colleagues for their cooperation and their input during floor consideration of this package.
At the outset of this debate, I challenged all Senators to follow through on their calls for a return to regular order. To that end, several amendments received up-or-down votes on the floor, and dozens more from both sides were included in the managers' package. We also rejected controversial authorizing provisions for the good of the process.
As we are getting ready to vote on final passage, I hope my colleagues agree that we are headed in the right direction. I recognize that this package must still be reconciled with the House version before we can get it to the President's desk, but I am optimistic that we can do that in short order.
We also cannot forget that nine other appropriations bills remain. The Appropriations Committee has already reported seven of these remaining bills to the full Senate, all with strong bipartisan margins.
This week, the committee will mark up the final two appropriations bills--Defense and Labor-HHS--and I am hoping for a similar result.
While we are about a quarter of a way through the 2019 appropriations process, we still have a long way to go, but we do have a framework for success--no poison pill riders, no new authorizations of law, no nongermane provisions. I have said it many times before, and I will keep saying it: This is the basis of the agreement I have with Vice Chairman Leahy. This is the approach our subcommittee chairmen and ranking members have adopted in producing strong and balanced bills. This is the way to avoid the catch-all spending measures and shutdowns we all detest. This is how the appropriations process is supposed to work. This is simply what the American people expect both parties to do.
Looking ahead, I don't think any of us are naive about the potential for partisan politics to snake its way back into the appropriations process. Tomorrow is a different day, as we know, after all. But we all have a constitutional responsibility to allocate taxpayer money in a deliberate manner, and we have a viable path forward. So it is my hope that today marks a new day for the appropriations process in the U.S. Senate.
To all of my colleagues, I want to thank you for your cooperation. I ask that you continue to work with us in the weeks ahead so that we can successfully pass all 12 appropriations bills on the Senate floor.
With that, I urge my colleagues to support the bill that will come before the Senate in a few minutes.
I yield the floor.
I suggest the absence of a quorum.
- Senate Floor·June 19, 2018·p. S4012-S4021
Energy And Water, Legislative Branch, And Military Construction And Veterans Affairs Appropriations Act, 2019
Madam President, just 3 months ago, Congress passed and the President signed a $1.3 trillion omnibus spending package for the year 2018. No one had time to read it, much less an opportunity to amend it on the floor. The President vowed…
Madam President, just 3 months ago, Congress passed and the President signed a $1.3 trillion omnibus spending package for the year 2018. No one had time to read it, much less an opportunity to amend it on the floor. The President vowed that never again would he sign such a measure. Collectively, we lamented the absence of process and the excess of partisanship that had led to that point once again. The collapse of regular order had become the new normal, despite our usual resolutions to revive it.
I am pleased to report today that the Senate Appropriations Committee has charted a different course in the months since the 2018 omnibus became law. In April of this year, I began working with Vice Chairman Leahy and our colleagues on the Appropriations Committee to put into motion an aggressive schedule to mark up all 12 appropriations bills before the July 4 recess. Thus far, the committee has passed seven of these bills. This week, the committee will mark up three additional bills, and in the final week of June, we will consider the remaining two. At the moment, we are right on schedule.
What has been truly remarkable, however, is not the speed of the 2019 appropriations process but the bipartisanship that has given it new life. All seven of the bills passed by the committee thus far have garnered overwhelming bipartisan support. Most of them, in fact, have been approved unanimously. This is no small accomplishment in today's partisan political environment.
At this point, I pause to recognize Vice Chairman Leahy's significant contributions to this effort. Senator Leahy and I have known each other for many decades now. In fact, our combined years on the Appropriations Committee exceed the ages of many of our colleagues.
On this basis, we came together at the outset of the process and determined that only by uniting would appropriations bills make it to the Senate floor and beyond. He and I made a deal, the essence of which POLITICO succinctly summarized in the headline of a recent article, entitled: ``Poison pills banished from Senate spending bills.'' That is what we hope.
As part of this deal, Vice Chairman Leahy and I agreed to reject not only partisan riders--our own too--but also new authorizations in the 2019 appropriations bills. We resolved that Senators on both sides who would be looking to authorize new law in appropriations bills would be referred to the appropriate authorizing committees. As the appropriations process has unfolded, I have honored this deal, Vice Chairman Leahy has honored this deal, and our subcommittee chairmen and ranking members have honored this deal. The results speak for themselves.
Last week, for example, the Interior, Environment, and Related Agencies appropriations bill passed unanimously out of committee. One would have to go back nearly 10 years to find the last time the Interior bill garnered such strong bipartisan support.
I recognize that today we are still early in the game and that many contentious issues lie ahead, but I believe we have established a framework for success in returning to regular order. It is now time to translate this success to the Senate floor. Members of the Appropriations Committee, including the Presiding Officer, through their discipline and adhering to this framework, have demonstrated that their perennial calls for a return to regular order have not been hollow. We will begin today to discover whether the
full Senate is equally sincere in its resolve.
The package before the Senate combines three fiscal year 2019 measures that have been recently approved by the Appropriations Committee: the Energy and Water Development appropriations bill, the Military Construction, Veterans Affairs, and Related Agencies appropriations bill, and the Legislative Branch appropriations bill.
The Energy and Water Development bill provides $43.7 billion in discretionary funding--a $566 million increase over the 2018-enacted level. The bill addresses critical national security needs concerning nuclear energy, while it also improves our water infrastructure and invests in basic science and energy research for this Nation.
Senators Alexander and Feinstein, the chairman and ranking member of the Energy and Water Development Subcommittee, have crafted, I believe, a balanced, bipartisan bill that passed the full committee by a 30-to-1 margin.
The Military Construction, Veterans Affairs, and Related Agencies bill--the second bill--provides $97.1 billion in discretionary funding, which is $5.1 billion above the 2018-enacted level. This bill supports investments that will ensure maximum readiness and warfighting capability for our troops, while it also provides funding for needed improvements and innovations at the VA.
Senators Boozman and Schatz, the chairman and ranking member of the MILCON, VA, and Related Agencies Subcommittee, wrote a strong bill that received unanimous support of the full committee.
Finally, the Senate's Legislative Branch bill provides $3.3 billion in discretionary funding, which is $68 million above the 2018-enacted level. This bill, the third bill, makes important investments in the safety and security of those who are working in Congress and those citizens who are guests, visiting our Capitol. Chairman Daines and Ranking Member Murphy, of the Legislative Branch Subcommittee, also drafted a strongly bipartisan bill that garnered the unanimous support of the full Appropriations Committee.
I thank Chairmen Alexander, Boozman, and Daines and Ranking Members Feinstein, Schatz, and Murphy this morning for their continued hard work and leadership on these bills.
As we move to the consideration of these bills today on the floor, I urge all Members to submit any amendments they have as soon as possible. Vice Chairman Leahy and I are committed to having an open amendment process, as are each of the subcommittee chairmen and ranking members, who will be managing their respective parts of these legislative packages. Just as they worked diligently to accommodate as many Members' requests as possible during the committee process, they intend to accommodate as many amendments as they can on the floor.
To recap for the benefit of the Members, we are not interested in poison pill riders, and we are not considering new authorizations of law, but we are interested in discussing substantive amendments that are germane to this package. This is the path, I believe, that leads us back to regular order. It is my hope that we will not be led astray, down the path of delay and partisanship, which would result in yet another omnibus. That is no way to fund the government.
Let's debate and dispose and do our job on behalf of the American people. Let's demonstrate to the American people that our collective call for a return to regular order was not just for show. Let's complete our work on this package in a timely manner so we can move on to the considerable work that lies ahead.
I take this moment to thank all Senators for their input and their cooperation in this process thus far.
I yield the floor.
- Senate Floor·June 18, 2018·p. S3973-S3976
Energy And Water, Legislative Branch, And Military Construction And Veterans Affairs Appropriations Act, 2019
Mr. President, I call up the substitute amendment, No. 2910. Mr. President, I ask unanimous consent that the reading of the amendment be dispensed with.
Mr. President, I call up the substitute amendment, No. 2910.
Mr. President, I ask unanimous consent that the reading of the amendment be dispensed with.
- Senate Floor·June 6, 2018·p. S3004-S3005
Remembering Bobby Kennedy (Executive Session)
Mr. President, I rise today in support of Annemarie Carney Axon to be U.S. district judge for the Northern District of Alabama. Annemarie Axon is exceptionally qualified to be a U.S. district judge. Her strong, respectful temperament and…
Mr. President, I rise today in support of Annemarie Carney Axon to be U.S. district judge for the Northern District of Alabama.
Annemarie Axon is exceptionally qualified to be a U.S. district judge. Her strong, respectful temperament and commitment to impartiality prove that she is well-suited for this esteemed position.
Ms. Axon has spent her entire career devoted to the law. She is presently a member of Wallace, Jordan, Ratcliff, & Brandt, LLC, in Birmingham, AL, where she focuses on fiduciary and probate litigation. Prior to her current role, she served as assistant vice president at AmSouth Bank. She began her legal career in 2000 as an associate at the firm Edwards & Angell, LLP, in Rhode Island.
Axon is a member of both the Alabama and Rhode Island State Bar Associations and represents a broad range of clients including individual and corporate fiduciaries and financial institutions in both State and Federal court.
In addition to her experience in the courtroom, Axon serves as the president of the YWCA Junior Board, as well as the Girls on the Run board of directors. She is also a member of the Mountain Brook City Schools Foundation Board and a member of the American Cancer Society.
Following her initial nomination in July 2017, Ms. Axon appeared before the Judiciary Committee for consideration. During the hearing, Axon stressed the importance of certain characteristics required to serve as a judge, including the ability to be fair, open-minded, courteous, and respectful to the attorneys and parties in each case. The committee favorably reported her nomination in October 2017.
I believe Annemarie Axon exemplifies all of the characteristics of a proper judge. I am confident that she will base her decisions on the law above all else, despite the outcome of each case.
Confirmation of her nomination is beyond imperative, as the swift confirmation of district judges plays a vital role in the functioning ability of the U.S. judicial system.
By confirming Annemarie Axon to be a U.S. district judge, Congress is allowing the work of the U.S. judicial branch to continue in a manner that will best serve our Nation.
- Senate Floor·June 5, 2018·p. S2981
EXECUTIVE CALENDAR--Continued
Mr. President, I ask for the yeas and nays.
Mr. President, I ask for the yeas and nays.
- Senate Floor·June 5, 2018·p. S2990
Recognizing Highlands Bar & Grill
Mr. President, today I wish to congratulate Highlands Bar & Grill for winning the 2018 James Beard Foundation Award for outstanding restaurant on May 7, 2018. After being a finalist for 9 consecutive years, the Highlands Bar & Grill has…
Mr. President, today I wish to congratulate Highlands Bar & Grill for winning the 2018 James Beard Foundation Award for outstanding restaurant on May 7, 2018.
After being a finalist for 9 consecutive years, the Highlands Bar & Grill has finally won this prestigious award. The James Beard Foundation annually presents awards for culinary excellence, and I cannot think of a more deserving restaurant.
Ever since the restaurant's opening in 1982, executive chef and owner Frank Stitt from Cullman, AL, and his wife, Pardis, from Birmingham, AL, have provided a memorable and hospitable culinary experience. Their commitment to providing high-quality food and service have been the foundation for their nationally recognized success.
Contributing to the triumph of the restaurant is pastry chef Dolester Miles, who this year won the 2018 James Beard Foundation Award for outstanding pastry chef. One of the original employees of Highlands Bar & Grill, Dolester's 36-year career is certainly impressive and unparalleled.
Frank Stitt's mentorship and guidance have influenced many other chefs in the Birmingham area and beyond. His ever-changing and inspirational menu has elevated the standard for fine Southern cuisine.
I would like to extend my sincere congratulations to Highlands Bar & Grill. This restaurant is one of the finest restaurants in the United States and is an ambassador to the world of fine Southern cuisine.
Please join me in congratulating Highlands Bar & Grill for winning this award and for the restaurant's nearly four decades of success. I have no doubt that it will continue this path of excellence.
- Senate Floor·May 24, 2018·p. S2892-S2893
Confirmation of Brian Montgomery (Executive Session)
Mr. President, I rise today in support of Jelena McWilliams to be the Chair of the Federal Deposit Insurance Corporation. A native of the former Yugoslavia, Jelena earned her bachelor's degree and J.D. from the University of California at…
Mr. President, I rise today in support of Jelena McWilliams to be the Chair of the Federal Deposit Insurance Corporation.
A native of the former Yugoslavia, Jelena earned her bachelor's degree and J.D. from the University of California at Berkeley. From tough experiences that her family shared in Europe, Jelena understands the value hard work provides in a free market environment like ours.
The FDIC plays an important role in ensuring consumer confidence in our Nation's banks. In addition to their work as the prudential regulator for State-chartered banks, the FDIC is also a key part of many interagency efforts to appropriately regulate financial institutions.
Due to her vast experience, Jelena is beyond qualified for this esteemed position. To put it clearly, she has worked in all fields that interact with her new role. She is certainly no stranger to the Senate. During my time as chairman, Jelena served as chief counsel and deputy staff director of the Senate Banking Committee. Additionally, she was assistant chief counsel on the Senate Small Business Committee and has experience working for the Federal Reserve. Jelena also has private sector experience as an attorney in private practice. She also served as executive vice president, chief legal officer, and corporate secretary for Fifth Third Bank.
Opposition to her nomination is unfathomable. Ms. McWilliams was reported out of the Banking Committee by a voice vote in February. She understands all sides of the areas she will regulate with the highest level of sophistication. However, that has not prevented Members of this body from being unreasonable. Opposition has appeared due to the nature of the Senate today, not due to any question regarding Jelena's qualification for the job.
Passage of her nomination builds on positive moment this week. With the passage of S. 2155, Congress has advanced appropriate scaling back of over-burdensome financial regulations. By confirming Jelena, the Senate has the opportunity to continue providing Main Street with commonsense regulatory relief. I am certain that Jelena is up for the challenge and confident that she will do an excellent job in this esteemed position.
- Senate Floor·May 22, 2018·p. S2806-S2811
Va Mission Bill
Mr. President, I ask unanimous consent to enter into a colloquy with Senator Leahy, Senator Isakson, and Senator Tester. We rise today to speak about the VA MISSION Act, bipartisan legislation that would make much needed reforms to the VA…
Mr. President, I ask unanimous consent to enter into a colloquy with Senator Leahy, Senator Isakson, and Senator Tester.
We rise today to speak about the VA MISSION Act, bipartisan legislation that would make much needed reforms to the VA Choice and VA Community Care programs. Among these reforms, the existing VA Choice program, funded as a mandatory program, will merge with a streamlined Medical Community Care program, funded with discretionary dollars. I commend my colleagues for a job well done.
As chairman of the Appropriations Committee, however, I want to express my concern that this legislation authorizes significant discretionary spending for the VA without providing any way to pay for it under the spending caps imposed by the Budget Control Act, BCA. The Congressional Budget Office estimates this bill will cost $49 billion over the next 5 years--roughly $10 billion per year. Without relief from the caps plus an anticipated return to sequestration levels in 2020, this $49 billion could come at the expense of existing programs, including those at the VA.
I am also concerned that the underlying bill only provides funding for the VA Choice program through May of 2019, with no funding plan for the new program which is expected to come online in fiscal year 2019. These problems are not insurmountable. They do, however, require funding above and beyond what was contemplated in both the caps deal and the BCA. Fortunately, there is existing law and ample precedent for adjusting spending caps to reflect changes resulting from a shift in mandatory spending to discretionary spending.
I want to ask Senator Isakson and Senator Tester if it is also their understanding that this funding deficiency could imperil other VA funding and, if so, whether they will commit to assisting Senator Leahy and me in enacting a solution when the Military Construction and Veterans Affairs Appropriations bill comes to the floor that will provide adequate resources for the programs authorized in this bill without doing harm to existing programs?
- Senate Floor·May 10, 2018·p. S2620
Remembering Samuel Eason Balch
Mr. President, today I wish to honor the life of Samuel Eason Balch of Birmingham, AL, who passed away peacefully at his home on April 14, 2018. He will be long remembered for his love of life and his ability to maintain a positive outlook…
Mr. President, today I wish to honor the life of Samuel Eason Balch of Birmingham, AL, who passed away peacefully at his home on April 14, 2018. He will be long remembered for his love of life and his ability to maintain a positive outlook despite any adversity that came his way.
Mr. Balch's industrious spirit began showing at a young age. While attending high school, he tended to his family farm and worked at a local drugstore. Following graduation, Mr. Balch entered the University of Alabama School of Commerce, where he quickly became involved in the political scene and the campus social scene. After earning his bachelor of science in business, Eason enlisted in the U.S. Army.
Mr. Balch began his military career by entering the Army Officers' Training Corps, OTC, exhibiting his dedicated work ethic from the start. He was quickly commissioned second lieutenant. After graduating from OTC, he was transferred to Fort Pickett, VA, where he was promoted to captain and shipped out to La Havre, France. Eason finished his time in the Army as a major. It will not be forgotten that Mr. Balch spent much of the first half of his life serving our great Nation, proving his honor and dedication to service.
Following his years of service to the Army, Eason attended the University of Virginia School of Law. After receiving his law degree, he and his family moved to Birmingham where he joined the law firm Martin, Turner, and McWhorter, which is today known as Balch and Bingham. Mr. Balch played an integral role in developing and growing the firm and went on to become a highly respected, valued adviser for many young lawyers throughout Alabama. I, along with many others, considered Eason to be one of the top utility lawyers in the United States.
Outside of his professional career, Mr. Balch held a national presence in the Public Utility Bar and served on the board of directors for the Alabama Power Company for over 20 years. He was also a devoted member of the Cathedral Church of the Advent in Birmingham, AL, for 70 years.
Eason and his lovely wife, Betsy, were good friends to my wife, Annette, and me for many years. I will always remember his ability to entertain any audience. Eason never met a stranger.
I offer my deepest condolences to Eason's children and to all of his loved ones as they celebrate his life and mourn this great loss.
- Senate Floor·March 22, 2018·p. S1892-S1919
National Defense Authorization Act For Fiscal Year 2018--Motion To
Mr. President, I, too, would like to start by thanking my good friend, Senator Thad Cochran, for the tireless dedication and public service he has brought forth here throughout some 40-something years--45 years. As has been said, he was…
Mr. President, I, too, would like to start by thanking my good friend, Senator Thad Cochran, for the tireless dedication and public service he has brought forth here throughout some 40-something years--45 years.
As has been said, he was elected to the U.S. House of Representatives over 45 years ago, and he was elected to the U.S. Senate in 1978. As all of us know, Thad was a practicing attorney in Jackson, MS, and a graduate of the University of Mississippi School of Law. He also studied abroad at Trinity College in Dublin, Ireland, where we visited one time.
We have served together in the U.S. Senate for over 30 years. He has been an excellent colleague, and I have been honored to have worked with him. We represent neighboring States, Mississippi and Alabama, and we have both worked on some of the same priorities. But, mainly, he has served Mississippi with the utmost dignity and respect.
He has an excellent staff. We are all grateful for their hard work, their help, and their coordination with all of us.
As chairman of the Appropriations Committee, he has been a remarkable negotiator. As the majority leader will tell you--he is one himself--we need those traits at this point in time.
Thad has provided critical funding for various Mississippi priorities over the years. He hasn't forgotten where he is from. Right here, with a lot of help, he led the restoration of the gulf coast after Hurricane Katrina. As I have understood them, his major priorities have always been the defense of this Nation; education, as Senator Leahy talked about; agriculture, where he served as the chairman of the Ag Committee for a long time; rural issues, not only in Mississippi but all over America. Thad also spent many years serving on the Rules Committee, where I now chair.
I believe history will reflect Thad Cochran's long legacy of strong leadership, and I, myself, believe that he has made an extraordinary impact here in the U.S. Senate.
Thad, as we all know, is very courteous, well-mannered, and has a low-key demeanor most of the time. He is quiet, he is patient, and he has built seniority through power and perseverance.
Some people say that Thad Cochran is the last true southern gentleman, and I think there is a lot of truth to that. Some people say that he represents the lost art of being nice; we all need to work on that. He always has been and will be a hero both here and back home in Mississippi.
Thad, I wish you and your wonderful wife, Kay, well. I think all of us should strive to continue on the wise path that you have paved for us here in the Senate.
I believe we are all grateful for his service to Mississippi and our Nation. We wish him God's speed.
Mr. President, I suggest the absence of a quorum.
Mr. President, I suggest the absence of a quorum.
- Senate Floor·March 21, 2018·p. S1874
Tribute To Jeremy Weirich
Mr. President, today I wish to express my gratitude to Jeremy Weirich, who has served as clerk for the Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies, or CJS, for his many years of distinguished public…
Mr. President, today I wish to express my gratitude to Jeremy Weirich, who has served as clerk for the Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies, or CJS, for his many years of distinguished public service.
Jeremy has dedicated much of his career to public service. He first came to the Senate in 2006 as a detailee from the National Oceanic and Atmospheric Administration, NOAA, where he was serving as an NOAA Corps officer. The CJS Subcommittee needed an expert on all things NOAA, and Jeremy was brought to our attention as someone knowledgeable, capable, and ready to take on the challenge. He did not disappoint.
After his first stint at CJS, Jeremy returned to NOAA, but his knowledge and skills brought him back to the Senate in 2008. He initially worked on CJS for Senator Barbara Mikulski and then later as my subcommittee clerk. Jeremy is one of the few people on the Senate Appropriations Committee who has served as a clerk for both sides of the aisle. His honesty, integrity, and thoughtfulness have assisted in moving legislation through difficult situations. As can be witnessed by his dedicated work on behalf of both sides of the aisle, Jeremy is truly a consummate professional. His dealings with the members and staff in the Senate, both Republican and Democrat alike, are qualities that we all should strive to emulate.
Jeremy's first love is the ocean, having served as the first executive officer of the Okeanos Explorer, as well as at NOAA. He carried that forward on CJS as he made sure that while we modernized our Nation's weather forecast system and took the first steps to make major capital investments in the NOAA fleet, we did so in a responsible manner. Jeremy helped ensure that our Nation's fisheries are managed responsibly and was always able to thread the needle in balancing the many differing interests. Jeremy's passion for exploration also helped guarantee that America has the vehicles and technology to further explore space with telescopes, satellites, and humans. He assisted in building the space launch system, but also kept an eye on the next generation of scientific exploration--everything from the James Webb Space Telescope to Mars rovers to Europa.
Jeremy embraced the justice portion of the CJS portfolio by promoting public safety, overseeing the current home of the FBI's Terrorist Explosive Device Analytical Center, and being instrumental in implementing the Federal Bureau of Investigation's 21st century facilities plan.
Most importantly, Jeremy approached his work with an essential appropriator's attitude: Let's get the job done. He was always ready to listen to members and their staffs, as well as experts from the agencies and outside communities. Every year, Jeremy worked tirelessly to craft a bill that garnered wide bipartisan support, and every year, he got the job done.
As Jeremy leaves the Senate after a decade of hard work and dedicated public service, he leaves the Committee on Appropriations in a better place, with a long list of accomplishments that have bettered our Nation. He also leaves many colleagues that are sad to see him go.
I want to thank Jeremy for his honorable service. I join the entire committee in wishing him continued success in his future endeavors and continued happiness in the years to come.
- Senate Floor·March 14, 2018·p. S1696-S1729
Economic Growth, Regulatory Relief, And Consumer Protection Act
Mr. President, I rise today, as my colleague from North Dakota has just done, to speak in support of Senate bill S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. In response to the 2008 financial crisis, many…
Mr. President, I rise today, as my colleague from North Dakota has just done, to speak in support of Senate bill S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
In response to the 2008 financial crisis, many individuals overreacted to the role that smaller institutions played. In the rush to react, these institutions became overregulated. But since the drafting and enactment of Dodd-Frank nearly 10 years ago, Congress has looked for ways to lessen the damaging effects it has had on our financial system in America. As a result of the Dodd-Frank Act, thousands of pages of Federal mandates were imposed upon even the smallest of financial institutions.
Community banks all across the country are the key source of lending and other financial services on Main Street throughout this Nation. I believe we should not, and must not, continue to require them to comply with the same regulations as our largest financial institutions that are, perhaps, subject to systemic risk.
This bill before us today fixes that by offering a commonsense approach to ensure that our small and medium-sized financial institutions are no longer subject to excessive regulation that has choked the life from them in the country.
Senate bill S. 2155 is a result of almost 10 years of negotiations among Members of both parties. This legislation was negotiated in good faith between Republicans and Democrats to find common ground. In a time when partisan politics have derailed many efforts, the bill before us moved through regular order out of the Banking Committee, where a lengthy and robust amendment debate occurred. Many of us in this body, including the Presiding Officer, have spent hours upon hours negotiating since the enactment of Dodd-Frank to get to this point today. This is a bipartisan bill. This is a good product.
Time and again, I have advocated for conducting thorough cost-benefit analysis on financial regulations. I believe it is Congress's role, when tasked with oversight authority, to ensure that the costs of rules from Washington do not outweigh the benefits for consumers. However, even a simple examination of the activities of small and medium-sized banks shows that their practices provide no systemic risk to our financial system.
Many Dodd-Frank regulations are inappropriate for these institutions in the country. This has become abundantly clear to most of us. As regulatory overreach progressed, community banks and, in turn, local economies began to fall on hard times.
In the 115th Congress, I believe the dynamics have shifted. Beginning with our work to reform our Nation's tax system, the economy has been performing well. Unemployment has dropped; the total number of individuals returning to the workforce has increased. In the Senate, we now have a unique opportunity to unlock the chains of stagnation that have halted the growth of a lot of our small business.
Community financial institutions provide more than 60 percent of small business loans in this country. Too often, it is easy to forget that the personalized touch of community banks has been what started the process for success of some of the most accomplished businesses in the United States of America. I believe we must pass this bill if we want that to continue--if we want to keep creating jobs in this country and opportunities for our people.
In response to my friends from the other side of the aisle who oppose our efforts here, I have one simple message: The Economic Growth, Regulatory Relief, and Consumer Protection Act--the bill we have before the Senate now--is a thoughtful, bipartisan effort to correct and rightsize regulations that were hastily prepared. This product is designed to help Main Street, not Wall Street.
This is a good bill. I hope my colleagues will join me and others in support of it.
I yield the floor.
I suggest the absence of a quorum.
- Senate Floor·January 30, 2018·p. S567
Tribute to William D. Duhnke III (Executive Session)
Mr. President, I rise today to pay tribute to a former staff member of mine, William D. Duhnke III, who dedicated over 20 years of his life's work to the Senate. Prior to his time on Capitol Hill, Bill Duhnke served in the U.S. Navy as a…
Mr. President, I rise today to pay tribute to a former staff member of mine, William D. Duhnke III, who dedicated over 20 years of his life's work to the Senate.
Prior to his time on Capitol Hill, Bill Duhnke served in the U.S. Navy as a naval officer and at the Commission on the Assignment of Women in the Armed Forces. Bill received his juris doctorate from Catholic University and a bachelor of arts degree from his home State university, the University of Wisconsin. In 1995 Bill Duhnke joined my personal staff to handle defense, foreign relations, and judiciary policy. He quickly revealed his high work ethic and innate ability to thrive when tasked with the most challenging of assignments.
After swiftly climbing the ladder in my office, Bill became my staff director and general counsel when I chaired the Senate Intelligence Committee and later the Senate Banking Committee, where he was general counsel and staff director. He also served as my staff director when I was the ranking member of the Senate Appropriations Committee, when the Democrats were in control.
As a former naval flight officer, Bill always brought a high level of respect and discipline to the workplace. Without hesitation, he was able to spearhead tasks and get things done. Not only was he a trusted adviser, but he was an esteemed manager across Capitol Hill, where he was duly respected. Bill is exceptionally smart and was always well versed on the issues at hand. I would be hard-pressed to recall a time when he was unprepared. I can't think of one.
I am certain that Bill will continue to operate in this manner in his new role as Chairman of the Public Accounting Oversight Board.
I have relied on Bill Duhnke's professional advice and leadership for 20 years, and I know he will be an asset as the Board works to improve audit quality and promote public trust in our securities area. I believe SEC Chairman Jay Clayton has made an excellent choice in selecting Bill Duhnke to chair the PCAOB.
I have no doubt that Bill has stepped into his new leadership position with ease. His intellect and experience ensure his future success in this role, and I am confident that Bill will remain an outstanding leader as he continues on this new path in his career.
It is my honor to offer my deep appreciation and gratitude to Bill Duhnke for his decades of hard work and dedication to the entire country. I am privileged to have had him on my staff for all of those years.
I yield the floor.
I suggest the absence of a quorum.
- Senate Floor·January 29, 2018·p. S548
Tribute To Earl Smith
Mr. President, today I wish to honor the legacy and heroic service of Mr. Earl Smith. An Alabama native and unsung American hero, Smith's willingness to put himself in harm's way saved an untold number of lives. More than 50 years ago, as…
Mr. President, today I wish to honor the legacy and heroic service of Mr. Earl Smith. An Alabama native and unsung American hero, Smith's willingness to put himself in harm's way saved an untold number of lives.
More than 50 years ago, as a young officer in the U.S. Air Force, Smith was the on-call explosive ordnance disposal, EOD, technician at Seymour Johnson Air Force Base in Goldsboro, NC. Nothing out of the ordinary had occurred throughout his shift on the evening of January 23, 1961, when the 24-year-old Smith received an alarming phone call. He was informed that two Mark 39 hydrogen bombs had broken loose from a B-52 bomber and landed in a field just outside of Goldsboro. He was told the general location of the bombs, but other details were unknown.
Upon arriving to the crash site, Smith and other EOD technicians found that one bomb had crashed at such a speed that it was buried underground, but the other was visible and appeared to be intact. Although the protocol was to alert the Atomic Energy Commission before inspecting the bomb, Smith's instinct was to act quickly. Dr. Ralph Lapp, a physicist involved in developing America's first nuclear bombs as part of the Manhattan Project, stated in his review of the Goldsboro incident that ``one simple, dynamo-technology low voltage switch stood between the United States and a major catastrophe.''
Smith graduated from the U.S. Navy's EOD school just 9 months prior to the incident. However, his training, combined with his immense bravery, allowed him and other EOD technicians to successfully disarm the bomb over several days of harrowing work. Experts estimate that, if detonated, the bombs were powerful enough to destroy everything within an 8.5 mile radius. When asked in a recent interview why the bomb did not go off, Smith replied, ``the Lord Jesus Christ only knows.''
Such incidents prove that the security we enjoy every day as Americans is because of courageous individuals like Earl Smith. Smith's willingness to risk his life, along with his ability to maintain the secrecy of this formerly classified event for half a century, serve as distinct and sobering reminders that there are American men and women serving tirelessly throughout the world to maintain the way of life we hold dear.
It is my honor to offer my sincere appreciation and gratitude to Earl Smith and the countless others like him who diligently, and often thanklessly, work to provide safety and security to all Americans. I hope that my colleagues in the Senate will join me in thanking them for their selfless service to this Nation.