Floor Statements

Mr. Speaker, today I would like to bring attention to the outstanding achievements of the University of Texas at Austin men's swimming and diving team. For the fourth consecutive year, this team took home the NCAA title.

College athletes from around the country dream about competing at the NCAA championships. As student-athletes, this could also mark the peak of their athletic career.

In addition to these incredible athletes, I would like to congratulate their coach, Eddie Reese. Coach Reese has the most wins in this sport's history. After 40 seasons at the University of Texas, he has trained athletes to win 14 national titles.

Coaches like this don't come around often, and I would like to thank Coach Reese for his dedication to this great university.

I would also like to take this time to identify UT seniors on the team: Jonathan Roberts, Brett Ringgold, and Joseph Schooling. As they leave their college days behind, they will always remember this moment, and they will remember this team.

Mr. Speaker, I would like to congratulate the University of Texas on these impressive accomplishments and simply say: Hook `em.

In God we trust.

Mr. Speaker, I rise today to recognize Mark Johnson, a fellow Texan, a former marine, a father and a grandfather.

On March 17 and 18, Mark completed a double Ironman race across the State of Texas.

A double Ironman is a 53.2-mile run, 4.8-mile swim, and 224-mile bike ride. He began in Marble Falls in my district and ended in Lufkin, Texas.

When asked why he chose to attempt the event, he answered swiftly: ``For Wendy, my amazing sister who has Down syndrome.''

In addition to honoring his sister and raising awareness, Mark Johnson has pledged all monetary donations to the National Down Syndrome Society. This is the leading human rights organization for all individuals with Down syndrome and where he sits on the board of directors.

Today and every day, let us celebrate advocates like Mark, his sister, Wendy, and all individuals with Down syndrome and their families.

In God we trust.

Mr. Speaker, I would like to take the opportunity to commend my friend and colleague from Maine (Mr. Poliquin) for his leadership on this important issue. H.R. 4566, the Alleviating Stress Test Burdens to Help Investors Act, would help nonbanks not currently under supervision of the Federal Reserve from stress testing requirements.

In addition to alleviating burdensome requirements, the bill allows the Securities and Exchange Commission and the Commodity Futures Trading Commission to issue regulations requiring financial companies with more than $10 billion in consolidated assets to conduct a periodic analysis of their

financial condition, including their liquidity.

This legislation would properly tailor Dodd-Frank's stress test requirements in a way that is appropriately focused. This bill retains the SEC's ability to issue stress testing as it believes appropriate. The bill does not limit the Financial Stability Oversight Council's authority to request the SEC to adopt suitable requirements for advisers and funds.

Mr. Speaker, once again, I thank the gentleman from Maine for his commitment to this important piece of legislation. I encourage all of my colleagues on both sides of the aisle to support this bill on the floor.

In God We Trust.

Mr. Speaker, I would like to take this time to recognize a city in Texas' 25th Congressional District for being named the number one place to live in all of America. That city would be none other than our great State's capital, Austin, Texas.

Cities from all over the Nation are scored based on their job market, their value, quality of life, desirability, and net migration. With a population of almost 2 million people and an additional 50 new residents every single day, Austin is one of the fastest growing cities. It is no wonder Austin secured the number one spot.

In addition to its unleashed economic potential, young families are relocating to central Texas for something they can't get anywhere else: the ability to experience living in a big city with a booming economy that also provides the warmth and friendliness of a small town is what makes Austin one of a kind.

Mom-and-pop shops down the road are able to open their doors, hire more Texans, and pay their employees more due to an overhaul of our Nation's Tax Code. The truth is Austin is just now seeing the fruits of the Tax Cuts and Jobs Act, and I am excited to watch Austin continue to thrive because of it.

Texas is the greatest State in America, and Austin is its leadoff hitter.

May God bless Texas. May God bless this great Nation.

Mr. Speaker, I thank Dr. Harris for yielding me this time.

Mr. Speaker, I would like to take this time to recognize pro-life pregnancy centers and all the good they do for mothers and their unborn children.

As a God-fearing father and grandfather, I have always believed that life begins at the moment of conception. No one should ever be forced to promote the abortion of an unborn baby against their will.

Rather than protecting free speech, a constitutional right, the Federal Government is extorting speech by forcing these pregnancy centers to contradict their pro-life message.

During my time in Congress, I have visited multiple pro-life pregnancy centers around the 25th District of Texas. In particular, I would like to highlight the Austin Pregnancy Resource Center and the Cleburne Pregnancy Center, both of which I have been to.

These outstanding centers provide resources, information, and emotional support for those soon-to-be moms. They also provide after- care for moms and their baby, such as supplies, clothing, and education, as we previously heard. Women deserve to know there are better options than abortion and that there are facilities out there to help them.

The bottom line, Americans and organizations should not be forced by the government to promote ideas that conflict with their beliefs. As a steadfast pro-life supporter, I will continue advocating for the rights of the unborn and the centers that fight for them.

In God we trust.

Mr. Speaker, I would like to take this time to talk about how the Tax Cuts and Jobs Act is benefiting Texas, especially folks in the 25th Congressional District that I represent.

There are approximately 28 million people lucky enough to call themselves Texans. Of that, I have the great honor of representing hundreds of thousands of hardworking Americans who wake up and go to work every day, just like you and me.

For 5 years, I have traveled up and down the 25th District of Texas, most recently, just last week, where I visited many local businesses along the way. I have witnessed firsthand the hardships that families and small businesses face day in and day out due to an intrusive Federal Government and overreaching administration.

I pledged to these people that I would bring my commonsense business perspective to Washington in order to jump-start this economy, and I am proud to say that I upheld that promise.

When I visited these folks last week, there was something different about them. For the first time in a long time, I had businessowners and their employees telling me about the positive impacts coming from our Nation's Tax Code. They were telling me they noticed more money in their most recent paychecks. One man even told me he plans to use his extra money to put into his 401(k) so that he can save even more for his retirement.

This means parents can now plan for their future and start putting away money for their kids' college funds. It means companies are adding to their workforce and that those individuals can keep more money in their pockets.

Ultimately, these hardworking Texans are seeing more jobs, fairer taxes, and bigger paychecks. I am proud to be their voice in Washington, and I will continue fighting on their behalf.

In God we trust.

Madam Speaker, I rise in support of H.R. 3978, the TRID Improvement Act introduced by my colleague from Arkansas (Mr. Hill) and my colleague from Nevada (Mr. Kihuen).

This important and overwhelmingly bipartisan legislation, which passed out of the House Financial Services Committee by a vote of 53-5, is a straightforward, commonsense solution that will help hardworking Americans buy a new home or refinance their existing home.

Under the CFPB's misnamed ``Know before you owe'' TRID rule, those in the home buying or refinancing process may not actually know everything about the price they are going to pay before closing.

Because of the TRID rule and the restrictions placed on the listing of discounted title loan insurance rates on loan estimates, consumers may see one title loan insurance price on their loan estimate and another on their closing form.

The TRID rule creates unnecessary confusion, and this bill is a step in the right direction to reducing the burdensome and overreaching authority of the CFPB.

I am proud to join this bipartisan effort, but I do wish that the CFPB had been more willing to work with the chorus of voices from both sides of the aisle calling for this change.

The home buying experience is complicated enough as it is, and the rationale displayed by the CFPB discourages homeownership and levies unjust penalties for those Americans striving for the dream of homeownership.

I am proud to join my colleagues in support of this measure, the TRID Improvement Act.

In God we trust.

Mr. Speaker, today I would like to recognize a local fire department from Texas' 25th District, the Somervell County Fire Department. They recently had their annual banquet to honor firefighters for their bravery and their valor.

This year, Mr. Matt Peelman and Mr. Brandon Fipps received two of the top awards for 2017. Matt was named the Career Firefighter of the Year, and Brandon was selected as the Volunteer Firefighter of the Year.

Committing one's life to protecting others is no easy task; so to both of these heroes, I want to say thank you. I thank them for their dedication and for putting their life on the line to get everyday Texans out of harm's way.

In addition to these two, there are many others at the station who were recognized for their courage: Nathan Huhn, Michael Laviada, Donna Owens, Blaine Stroud, Emma Turner, Jason Sanchez, Jerry Darnell, Ashileen Shepard, Brad Smith, Dakota Stroud, Trevor Crawford, Ben Welch, Fallon Wirsing, Tyler Brown, Kelby Bridwell, David Culp, Nicole Gilbert, Mandy Bradford, Kaine Popejoy, Randy Hurtado, Andrew Vance, and John Mark Thomas.

Mr. Speaker, these men and women who serve their local community are a rare find. They are heroes, and I am honored to represent them in the 25th Congressional District of Texas.

With that being said, may God bless Texas, may God bless the first responders, and God bless the United States of America. In God We Trust.

Mr. Chairman, I rise today in strong support of H.R. 3326, the World Bank Accountability Act. I would like to thank the chairman of the Subcommittee on Monetary Policy and Trade, Mr. Andy Barr, for his hard work on this piece of legislation and for his leadership on this important issue.

H.R. 3326 passed through the Financial Services Committee unanimously, with an overwhelmingly bipartisan vote of 60-0.

Mr. Chair, right now, the World Bank's International Development Association, IDA, is an irresponsible benefactor for the world's neediest nations. At the core of my concerns within the World Bank, I take great issue with the Bank's offering employee incentives for approving new loans. The Bank, itself, has even documented that they harvest a culture that encourages loan volume rather than approval based on merit and approval based on need.

H.R. 3326 will help eliminate these illogical incentives at the World Bank that prioritize pushing money out the door rather than delivering authentic and helpful solutions.

In addition to mass lending from the Bank, careless lending is equally disconcerting and has made it easier for corrupt regimes to abuse their citizens and exploit the money for terrorism-related efforts. To address this issue, H.R. 3326 ensures that the World Bank cannot approve funds for a country that has been classified by the United States as a state sponsor of terrorism, and it demands that the U.S. decline Bank loans to countries that knowingly fail to impose U.N. Security Council sanctions against the North Korean regime.

Additionally, this bill will encourage improvements within the World Bank by withholding up to 30 percent of future appropriations for the World Bank's IDA until the Treasury reports that the Bank has undertaken meaningful reforms in order to combat corruption, strengthen management accountability, and undermine violent extremism. By passing this legislation, we require the World Bank to put more faith in free enterprise as opposed to corrupt regimes that abuse the poor.

If the World Bank is serious about helping those who need it most, it should make certain that borrowing governments are committed to the welfare of their citizens. The World Bank has been slipping through the cracks far too long, and it is time to implement meaningful and lasting reforms.

Once again, I commend Representative Barr for introducing this necessary legislation. I encourage the House to follow the Financial Services Committee's lead by passing H.R. 3326.

In God we trust.

Mr. Speaker, I ask unanimous consent that in the engrossment of H.R. 4324, the Clerk be directed to insert the word ``and'' after the semicolon in section 3(b)(1) of the bill.

Mr. Speaker, I ask unanimous consent that in the engrossment of H.R. 2396, the Clerk be directed to make the correction I have placed at the desk.

Mr. Speaker, I am happy to come to the floor this afternoon to support House Resolution 658, the combined rule providing for consideration of H.R. 1638 and H.R. 4324.

H.R. 1638, the Iranian Leadership Asset Transparency Act, sponsored by the gentleman from Maine (Mr. Poliquin), is commonsense legislation. The bill would publicize assets associated with Iran's Government and military leadership. It would require a report to Congress on the assets that these leaders control, how they were acquired, and how each and every one of these Iranian leaders uses them.

The American people, the American businesses, and the international community deserve to know who controls money and assets in Iran.

I am also proud to be the sponsor of H.R. 4324, the Strengthening Oversight of Iran's Access to Finance Act. My legislation would improve congressional oversight of any financing that the Treasury authorizes for aircraft sales to Iran.

Every 6 months, the Treasury would need to certify to us that finance authorizations would not benefit an Iranian person who is transporting items for the proliferation of weapons of mass destruction, nor providing transportation for sanctioned entities.

Treasury would also have to certify to us that these authorizations don't pose a significant money laundering or terrorism finance risk to the U.S. financial system.

If the Treasury Department cannot make this certification, the Department must tell us why, and it must explain to Congress the course of action it intends to take.

I urge all of my colleagues to support this rule, and I urge them to support H.R. 1638 and H.R. 4324.

Mr. Speaker, it is truly a privilege to speak in support of my bill, H.R. 4324, the Strengthening Oversight of Iran's Access to Finance Act.

Mr. Speaker, H.R. 4324 will improve congressional oversight of any financing that Treasury authorizes for aircraft sales to Iran.

Every 6 months, Treasury would need to certify to us that finance authorizations would not benefit an Iranian person who is transporting items for the proliferation of weapons of mass destruction nor providing transportation for sanctioned entities. Treasury would also have to certify to us that those authorizations don't pose a significant money laundering or terrorism finance risk to the U.S. financial system, and that any banks engaging in this business have appropriate due diligence procedures in place. If the Treasury Department cannot make this certification, the Department must tell us why, and it must explain to Congress the course of action it intends to take.

I note that my bill was reported out of the Financial Services Committee last month by a vote of 38-21, with five of my Democratic colleagues voting in its favor.

Many of my colleagues on the other side of the aisle will label this bill as a simple attempt to dismantle the Obama administration's Iran nuclear deal. We have already heard it.

Mr. Speaker, this debate is not about U.S. commitments under the Joint Comprehensive Plan of Action, or JCPOA. It is not about reimposing nuclear sanctions. It is not about prohibiting these aircraft sales or the financing of these sales.

What this legislation is about is providing Congress with information on the implications of these deals so that we can better understand their impact on the integrity of our financial system.

I would like to take a step back and discuss how we got to this point and why this legislation is necessary. As most of you know, under the JCPOA, the Obama administration committed the United States to license the sale of commercial aircraft to Iran. In addition to providing licenses for aircraft sales, the licenses also allowed for banks to engage in the financing of these aircraft.

All of this was permitted, despite the fact that Iran remained classified as a jurisdiction to primary money laundering concern by the Treasury Department and as the world's foremost state sponsor of terror by the State Department.

Let us be abundantly clear on the facts. It was the Obama Treasury Department that highlighted the role that Iran and Iranian aircraft played in the destabilizing activity across the Middle East and in supporting the atrocities committed by the rogue Assad regime in Syria.

On September 9, 2012, David S. Cohen, the Treasury Undersecretary for Terrorism and Financial Intelligence under President Obama, released the following statement:

``The identification of Iranian aircraft also further highlights Iran's ongoing effort to support the Assad regime's weapons of mass destruction programs and crackdown against the Syrian people.''

This quote followed the Treasury Department's announcement to impose sanctions against entities that support the Assad regime in Syria.

So quoting from the same September 9, 2012, Treasury statement: ``As a result of the Iran Threat Reduction and Syria Human Rights Act, foreign financial institutions that knowingly engage in significant transactions with . . . Iran Air, Mahan Air, or Yas Air, including any of 117 aircraft operated by these airlines, risk losing access to the U.S. banking system.''

Mr. Speaker, this week I received a memo from the National Iranian American Council urging members to oppose my bill. This is the same council that opposes President Trump's travel ban, which was recently upheld by a Supreme Court decision of 7-2, and the same organization that took concern with new sanctions imposed on Iran's support for Hezbollah.

This memo and the pro-Iran principles that it represents could not be a better endorsement for the Strengthening Oversight of Iran's Access to Finance Act.

I would ask this to my colleagues on both sides: At what point did we relegate ourselves to negotiating with those who wish us harm? At what point did we prioritize the interest of a rogue government that paints their bombs with sayings like ``Death to Israel'' and ``Death to America''? When did that happen?

There are simply two sides to this issue. You can either protect the interests of the United States, her citizens, and the U.S. financial institutions, or you can make important the wishes of the Ayatollah and his revolutionary guard.

Which side do you choose to be on? That is the question.

I represent the red, white, and blue.

My commitment to the safety and well-being of these United States is unwavering.

I urge my colleagues to do the same: support the red, white, and blue, and support H.R. 4324.

Mr. Speaker, I rise today in favor of H.R. 3971, the Community Institution Mortgage Relief Act of 2017.

I would like to also thank the gentlewoman from New York (Ms. Tenney)

for her hard work on this piece of legislation and her leadership on this issue.

An overwhelming majority of my Financial Services Committee colleagues recognized the need for this bill, and I hope that the full House will also recognize that very same need by voting in favor of this meaningful legislation.

Mr. Speaker, the problem right now is that community banks are being crushed by the sheer weight, magnitude, and intricacy of habitual Washington regulations, and this is all thanks to the crippling effects of the failed Dodd-Frank.

Currently, community financial institutions are facing overly burdensome rules implemented by the CFPB. The fact of the matter is we need H.R. 3971 in order to provide needed regulatory relief to small financial institutions.

By making two simple, minor changes, community financial institutions will be able to better serve their customers. To be clear, the institutions we are trying to help are not big banks, and they do not have the capabilities of the big banks.

To comply with current burdensome escrow rules, community financial institutions must devote more resources, time, and employees to compliance, and thos costs get passed down to the consumer.

Oftentimes, under the pressure of the current regulatory framework, these financial institutions will choose not to participate in the escrow market at all simply because the rules are financially and technically hindering. By directing the CFPB to provide relief, to lower the thresholds, we can help make things just a little bit easier on these vital community banks.

Overall, we should not allow oppressive regulations to drive opportunity away from small servicers. Big banks and community financial institutions are not the same, and we should not treat them as such.

As a small-business owner myself of over 44 years and a steadfast defender of Main Street, I do not hesitate to support this measure. It is good for this country. I see the need for the good people of central Texas to have more options.

Our job here in Washington, many miles away from our communities and those we love, is to do what we can to make their lives easier. Mr. Speaker, H.R. 3971 makes life easier and takes a step in the direction of making America better.

In God we trust. Merry Christmas.

Mr. Speaker, today, I would like to recognize the local fire departments from the 25th Congressional District--specifically, the ones located in Johnson County.

Altogether, first responders from this county were deployed for over 8 weeks to help with Hurricane Harvey relief efforts. Twenty firefighters and personnel were sent from Cleburne, Bono, Godley, Grandview, and Joshua fire departments to help out with the storm's impact.

Just 2 weeks ago, these first responders were honored during the Johnson County Emergency Services District Number 1 monthly meeting. Over the course of 2 months, they contributed a great deal to the total number of 17,000 rescue missions in Texas.

More than 33,000 individuals were displaced as a result of this tragedy, and these heroes put their own lives on hold to help out their fellow Texans.

Mr. Speaker, these crews, who serve their local community, are a rare find--they are heroes--and I am honored to represent them in the 25th Congressional District of Texas.

They voluntarily left their families and put their lives on the line in order to save others. The folks in Houston and south Texas will be forever grateful.

Texas is still recovering and, together, we will be stronger than ever before.

God bless Texas, God bless the first responders, and God bless the United States of America.

In God we trust.