Floor Statements

Mr. President, today it is my pleasure to honor Kentwool, an Upstate textile manufacturer that is celebrating its 175th anniversary this year. Originally founded in Philadelphia in 1843, Kentwool has since opened a plant, and maintains headquarters, in the South Carolina Upstate.

Kentwool has had a long history of textile manufacturing in America, including supplying the Armed Forces in both World Wars. Kentwool has been a family-owned business for five generations and maintains a strong emphasis on American-made goods.

Kentwool has been an integral business to the South Carolina Upstate since it opened a production facility in Pickens County in 1954. Kentwool currently employs 65 people at its Upstate facility and has its corporate headquarters in downtown Greenville. They have been a business that the people of the Upstate and of South Carolina are truly proud of.

As I share my congratulations with Kentwool, I know this accomplishment is bittersweet. Just last year, CEO Mark Kent passed away suddenly, and I know that, while Kentwool celebrates this milestone, they also commemorate all the hard work and philanthropic endeavors that Mark accomplished during his time with the company. As someone who gave back to the Upstate through his interest in preserving historic structures and philanthropic work, Mark will certainly not be forgotten and is remembered fondly on this 175th anniversary.

Congratulations, Kentwool.

Mr. President, today it is my pleasure to honor Callie's Biscuits, a small business in Charleston, SC, that serves up homemade, nationally recognized biscuits.

Callie's was founded in 2005 by Carrie Morey to bring her mother Callie's biscuit recipe to folks across the country. I had a chance to meet Carrie in person, and there is no question that she exudes the exact traits required of someone determined to run a prosperous business. Today the company has since expanded to three locations, including Charleston's Upper King District and the Charleston City Market. Her goal was to build a business around her passion for southern food while creating a healthy environment for her to still spend time with her family. When Carrie first started the company, she only used part-time help. She now employs 65 people who help her carry out her business's day-to-day operations, while keeping the tradition of southern biscuit-making alive.

The story of Callie's Biscuits is exemplary of the American entrepreneurial spirit that we are honoring during National Small Business Week. Callie's and other small businesses play a critical and unique role in our national economy and our communities. Carrie's success has brought great joy to South Carolinians and has garnered national recognition for her biscuits.

Carrie also gives back to her community; she is a guest lecturer at the College of Charleston Business School's entrepreneurship classes and serves as an adviser to innovators at a baking incubator she operates. In this role, she advises these entrepreneurs on both baking and operating a small business. I would like to congratulate Carrie and all the employees of Callie's Biscuits for the positive impact they are making in the lowcountry and beyond, and I wish them continued success in their business.

Mr. President, I rise today to celebrate the service and achievements of an esteemed and valued member of the U.S. Senior Executive Service, Dr. Kenneth A. Bertram, who completes a 32-year career of distinguished service to our Nation on June 30, 2018.

Dr. Bertram has worked tirelessly to improve the medical readiness of U.S. military personnel, and challenged the constraints of a burdensome acquisition system that discouraged meaningful partnerships between military medicine and the commercial sector. His work culminated in the creation of the Medical Technology Enterprise Consortium, a South Carolina-based nonprofit corporation that connects more than 170 private-sector companies, academic research institutions, and nonprofit organizations to the U.S. Army Medical Research and Materiel Command, fostering research collaborations to prevent injuries and disease impacting our Nation's soldiers, sailors, airmen, and marines, treating those who are wounded in conflict and restoring the injured to the maximum achievable quality of life.

Dr. Bertram's personal awards include the Meritorious Civilian Service Medal, the Superior Civilian Service Medal, two awards of the Legion of Merit, ``A'' Proficiency Designator in Hematology/Oncology from the Surgeon General of the U.S. Army, Order of Military Medical Merit, two awards of the U.S. Army Meritorious Service Medal, and two awards of the U.S. Army Commendation Medal. Dr. Bertram's professionalism, patriotism, and sustained selfless commitment to service reflect the very best values of our Nation's Senior Executive Service. I join his family and friends in wishing him the best in the years ahead.

Mr. President, today I would like to take a moment to recognize and honor the life of William ``Bill'' Varn, a great South Carolinian, who departed this life on November 18, 2017. Bill was a veteran of the U.S. Navy and served in World War II. After the war, Bill joined and eventually took over Enterprise Bank, originally located in Smoaks, SC. Mr. Varn served as CEO from 1951 to 2013, when he was named director emeritus last spring. It is believed that he is South Carolina's longest serving banker ever, and dedicated more than 70 years of his life to the industry. Today Emeritus Bank is a $333 million institution spread across six SC counties.

Mr. Varn will be remembered not only for the great contributions he made in the financial services industry, but also for his love of his country, State, and family.

Mr. President, I would like to congratulate and honor Fairview Baptist Church in Spartanburg, SC for their 100th anniversary, which will be celebrated on June 24, 2018. Fairview Baptist Church was established in 1918 by a group of residents of the Fairview community, known also as the Flatwoods, under direction of Rev. C.M. Ellis and nine charter members. Starting with only 40 members 100 years ago, Fairview Baptist has since grown to include hundreds from the Spartanburg area, while still remaining a welcoming and devoted place of worship in the community.

I acknowledge and celebrate the church's 100 years as a congregation faithfully serving the people of Spartanburg.

Mr. President, I would like to congratulate and honor Standing Springs Baptist Church in Simpsonville, SC, for their 200th anniversary, which will be celebrated on October 18, 2018. As Standing Springs celebrates their bicentennial throughout the week and weekend, I thank them for their ongoing mission of service and fellowship that I hope will continue for 200 more years to come. I acknowledge and celebrate the church's 200 years as a congregation faithfully serving the people of Simpsonville and Greenville County.

Mr. President, I would like to recognize the American Legion Post 29 in Bishopville, SC as they celebrate the unveiling of the James Davison Heriot statue in downtown Bishopville on Sunday, November 11, 2018. James Davison Heriot was a South Carolina National Guard soldier who received the Medal of Honor for his actions during World War I.

Post 29 is honoring the Americans who fought in World War I by unveiling this statue on the 100th anniversary of the end of the American involvement in the conflict, previously known as Armistice Day. I look forward to the unveiling of the Bishopville Heriot statue, as well as all other commemorations that will take place on this special 100th anniversary.

Mr. President, as chairman of the Senate Banking Subcommittee on Housing, Transportation, and Community Development, today I wish to engage in a colloquy to discuss legislation that I introduced, the Housing Opportunity Mortgage Expansion, HOME, Act, with several of my colleagues to address an issue involving the Federal Home Loan Bank, FHLB, system. The FHLB system is a cooperative organization of 11 banks that support a mission of ``helping American families realize the dream of home ownership, stimulate the creation of affordable housing, and improve the local business environment.'' FHLBs are privately capitalized by their 7,300 members and are subject to strict oversight by the Federal Housing Finance Agency, FHFA. The HOME Act is designed to correct the FHFA's perceived statutory limitation in the FHL Bank Act that does not permit captive insurers to be considered a class of the eligible insurance companies for membership in FHLBs.

In 2016, the FHFA determined that captive insurance firms were not insurance firms for purposes of the FHLB Act. In making this determination, the FHFA abruptly terminated the membership of approximately four dozen captive insurance entities, including mortgage real estate investment trusts, REITs, that were active and responsible members of the FHLB system. These insurance captives greatly contributed to the affordable housing mission of FHLBs through the use of private capital versus taxpayer dollars, something that we should always encourage. I thank Senators Duckworth, Johnson, and Baldwin for their support of this legislation, which I am hopeful will receive favorable consideration by this body in the future.

I yield to my friend from Illinois.

Mr. President, today I want to make a few remarks on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.

Section 213 of S. 2155, making online banking initiation legal and easy--the intent of this provision, which I introduced as an amendment during Committee consideration of S. 2155, is to facilitate the ability of financial institutions to reach new and potentially underserved consumers by making it possible to offer products and services to consumers through online and mobile applications. I would like to clarify that, with respect to references in this provision to ``copies,'' ``scans,'' or other reproductions of a consumer's government-issued identification, this is, intended to apply to all methods of obtaining information from an identification card, including color and black-and-white copies.

Section 215 of S. 2155, reducing identity fraud--with respect to section 215 of the bill, ``reducing identity fraud,'' the intent is to provide options for permitted entities to crosscheck consumer information with the Social Security Administration, SSA, in such a way that is efficient for those entities, as well as the SSA. In particular, the intent of this provision is to allow a service provider or other permitted entity to contact the SSA's Consent Based Social Security Number Verification database pursuant to appropriate consent provided to a permitted entity--such as a creditor--and to then provide the ``yes/no'' response from SSA to permitted entities who request such information in the future. In this way, creditors can receive the important validation of a name, date of birth, and Social Security number as part of the consumer report they receive when underwriting a credit application. This would result in fewer inquiries made to and received by the SSA. Furthermore, as mentioned, this provision would require consumer consent as part of the normal credit application process, similar to how creditors request consumer consent to obtain consumer credit reports in connection with an application. Under section 215, consumer consent can now be given via electronic signature obtained by the creditor or other permitted entities. Nothing in this provision would require consumers to fill out extra forms, provide extra signatures, or do anything that would significantly alter their expectations for a seamless application experience. The goal is to inform consumers of the possible inquiry to the SSA and allow them to provide consent via the chosen method by the creditor, which now includes electronic signature.

The second point I would like to clarify regarding section 215 is the importance of ensuring the SSA will implement this section with all deliberate speed, with no unreasonable delay to the process. As the author of this provision, it is my expectation that the SSA will have the database described in this section operational within 1 year of the bill's enactment, assuming the appropriate reserve of user fees. Every day that goes by without the

SSA implementing the changes called for in section 215 will lead to more children unknowingly becoming victims of synthetic identity theft and having their credit ruined.

Section 310 of S. 2155, credit score competition--the word ``competition'' in the title of section 310, ``credit score competition,'' is the heart of the intent of this part of the bill.

When enacted into law, Section 310 will put in place a mechanism by which credit score model developers may submit their models to Fannie Mae and Freddie Mac for validation for use by the enterprises, if the models meet validation criteria that Fannie Mae and Freddie Mac have established. Lenders will be able to choose the model that they wish to use. The end result of enactment of section 310 of S. 2155 will be a competitive market between the developers of empirically derived, demonstrably predictive, and statistically sound credit scoring models, with appropriate regulatory oversight from the Federal Housing Finance Agency under which both consumers and lenders would benefit. A lack of such a market thus far in the mortgage finance arena has stifled innovation in credit scoring.

Section 310 allows for more than one credit score model provider to have a validated model for use by the enterprises. The Director of the FHFA is given the responsibility to see that the validation process is undertaken in a timely manner for all applicants and that the methodology and results behind each validation decision is released to the public.

Unlike the request for input the FHFA issued in December 2017 on this subject, section 310 does not make specific reference to any credit score model provider. That is deliberate. Section 310 opens the enterprises up to use any model that is able to pass the validation process.

Some critics have raised the specter that providing mortgage lenders the opportunity to choose among credit scoring models validated and approved by Fannie Mae and Freddie Mac might trigger ``a race to the bottom.'' That is prohibited under section 310, as validated models are first deemed to not threaten the safety and soundness of the enterprises in order to be used.

Mr. President, as we close out Black History Month this week, I wanted to recognize a few people and initiatives that we are really excited about.

Yesterday, I joined Congressman Mark Walker, Chairman of the Republican Study Committee in the House, to host our Second Annual Historically Black Colleges and Universities Fly In.

We hosted Presidents and Administrators from HBCUs throughout the country, including four from my home State of South Carolina--South Carolina State University, Claflin University, Allen University and Benedict College.

We were able to host some great panels on ensuring curricula are matched with the needs of the workforce, how to best encourage entrepreneurship among students, and what steps we are taking at the Federal level to help our HBCUs provide an invaluable education for students for generations to come.

Representatives from the HBCUs heard from Google, McDonalds, Starbucks, Bank of America the Morehouse College Entrepreneurship Center, John Deere, Wal-Mart, the Center for Entrepreneurship & Economic Development, and the Koch Foundation. I also want to thank my friends Senator Lankford and Congresswoman Terri Sewell for joining us on our member panel.

For decades, HBCUs provided Americans of color with educational opportunities they would not have otherwise had. For generations, they have given low-income students an education they could not otherwise afford.

We have stood by them with the restoration of year-round Pell Grants, a top legislative priority from last year's fly-in, which benefits more than one million students.

I joined a bipartisan group of members of Congress, including Representative Alma Adams, to ensure an increase in the Department of Defense's HBCU and PMI grant program, boosting funding for this important collaboration to $40M.

And earlier this month, we saw the Environmental Protection Agency renew its partnership with Bowie State University to provide professional experiences and advanced resources to Bowie State students.

We will continue to stand with our HBCUs, and help ensure they are providing the opportunities sought by so many people of color and low- income families from across the Nation.

I also want to talk about legislation my friend Senator Booker and I introduced today to help combat Sickle Cell Disease.

Our Sickle Cell Disease Research, Surveillance, Prevention and Treatment Act will do exactly what the title suggests . . . aid in fighting sickle cell through research, surveillance, prevention and treatment.

Currently, we don't really know exactly how many people have Sickle Cell Disease. There's no real surveillance and reporting in place at the Federal level, and only a handful of states have a reporting process.

To best battle Sickle Cell, we have to know the universe of what we're fighting against. So, our bill establishes the National Sickle Cell Disease Research, Surveillance, Prevention, and Treatment program to collect data on the demographics and prevalence of Sickle Cell as well as identify and evaluate strategies for prevention and treatment.

We're also reauthorizing the Sickle Cell Disease Treatment Demonstration Program (SDTDP) for four years, making some smart reforms and expanding support services for kids and young adults making the transition to adult care.

If you've ever met someone with Sickle Cell Disease, you know the pain they go through. You see how hard it is on their families to watch them suffer.

The Medical University of South Carolina has put so much effort into finding a cure, and over the past few years I've gotten to know some of the patients. Their perseverance is amazing.

We have taken some great steps forward, but we have to keep that momentum going. I want to thank Senator Booker again for joining me in this effort, and I look forward to our colleagues supporting the Sickle Cell Disease Research, Surveillance, Prevention and Treatment Act.

Mr. President, Black History Month allows us to not only study and learn from our past, but to see where we can go in the future. Our Nation has made amazing progress in the past 50 years.

Without a doubt, there are still challenges ahead of us, and by remembering the strength of folks like Dr. Martin Luther King, the Friendship Nine, Cleveland Sellers, and so many other civil rights heroes, I am heartened that despite those challenges, we will continue to make progress.

Mr. President, as we close out Black History Month this week, I wanted to recognize a few people and initiatives that we are really excited about.

Yesterday, I joined Congressman Mark Walker, Chairman of the Republican Study Committee in the House, to host our Second Annual Historically Black Colleges and Universities Fly In.

We hosted Presidents and Administrators from HBCUs throughout the country, including four from my home State of South Carolina--South Carolina State University, Claflin University, Allen University and Benedict College.

We were able to host some great panels on ensuring curricula are matched with the needs of the workforce, how to best encourage entrepreneurship among students, and what steps we are taking at the Federal level to help our HBCUs provide an invaluable education for students for generations to come.

Representatives from the HBCUs heard from Google, McDonalds, Starbucks, Bank of America the Morehouse College Entrepreneurship Center, John Deere, Wal-Mart, the Center for Entrepreneurship & Economic Development, and the Koch Foundation. I also want to thank my friends Senator Lankford and Congresswoman Terri Sewell for joining us on our member panel.

For decades, HBCUs provided Americans of color with educational opportunities they would not have otherwise had. For generations, they have given low-income students an education they could not otherwise afford.

We have stood by them with the restoration of year-round Pell Grants, a top legislative priority from last year's fly-in, which benefits more than one million students.

I joined a bipartisan group of members of Congress, including Representative Alma Adams, to ensure an increase in the Department of Defense's HBCU and PMI grant program, boosting funding for this important collaboration to $40M.

And earlier this month, we saw the Environmental Protection Agency renew its partnership with Bowie State University to provide professional experiences and advanced resources to Bowie State students.

We will continue to stand with our HBCUs, and help ensure they are providing the opportunities sought by so many people of color and low- income families from across the Nation.

I also want to talk about legislation my friend Senator Booker and I introduced today to help combat Sickle Cell Disease.

Our Sickle Cell Disease Research, Surveillance, Prevention and Treatment Act will do exactly what the title suggests . . . aid in fighting sickle cell through research, surveillance, prevention and treatment.

Currently, we don't really know exactly how many people have Sickle Cell Disease. There's no real surveillance and reporting in place at the Federal level, and only a handful of states have a reporting process.

To best battle Sickle Cell, we have to know the universe of what we're fighting against. So, our bill establishes the National Sickle Cell Disease Research, Surveillance, Prevention, and Treatment program to collect data on the demographics and prevalence of Sickle Cell as well as identify and evaluate strategies for prevention and treatment.

We're also reauthorizing the Sickle Cell Disease Treatment Demonstration Program (SDTDP) for four years, making some smart reforms and expanding support services for kids and young adults making the transition to adult care.

If you've ever met someone with Sickle Cell Disease, you know the pain they go through. You see how hard it is on their families to watch them suffer.

The Medical University of South Carolina has put so much effort into finding a cure, and over the past few years I've gotten to know some of the patients. Their perseverance is amazing.

We have taken some great steps forward, but we have to keep that momentum going. I want to thank Senator Booker again for joining me in this effort, and I look forward to our colleagues supporting the Sickle Cell Disease Research, Surveillance, Prevention and Treatment Act.

Mr. President, Black History Month allows us to not only study and learn from our past, but to see where we can go in the future. Our Nation has made amazing progress in the past 50 years.

Without a doubt, there are still challenges ahead of us, and by remembering the strength of folks like Dr. Martin Luther King, the Friendship Nine, Cleveland Sellers, and so many other civil rights heroes, I am heartened that despite those challenges, we will continue to make progress.

Mr. President, 6 weeks after the passage of tax reform, we continue to show the American people how we are delivering on our promises with real, lasting tax reform.

In fact, a recent poll showed that 69 percent of Americans are satisfied with the boost in our economy. Another poll showed that Americans' approval of our tax reform package has more than doubled since its passage. I know it will continue to rise as more families see the benefits coming their way. Our new tax law will ensure that they are able to keep more of their paychecks and that the jobs of the future are created right here in the good old U.S.A.

Back home in South Carolina, we continue to see positive changes because of tax reform. More businesses are awarding their employees with raises, and as a result, more families are putting more money in their bank accounts and in their pockets.

Here is a real-life example. I received a note from Steve Potts, the CEO of Scout Boats in Summerville, SC. Scout Boats is, for those who may not know--but everybody knows Scout Boats--Scout Boats is a world- class brand. It has been recognized all over the world for quality boats. Here is a success story, an organic success story.

Back in 1989, Steve started his business with his wife in their garage. They did very well for a while, and then, of course, very quickly, Hurricane Hugo came about several months later and wiped them out. They had to start all over again.

They had two employees in 1989. Their life savings were invested into Scout Boats. Today, almost 30 years later, they have 340 employees. This year, they are going to hand out $1,000 bonuses to their 340 employees, and they hope this is the year that they will take their employees from 340 to 350 and exceed 400 employees.

He said:

We're confident this will help--

The tax reform package.

--further stimulate our own company morale, as well as become

an attractive career opportunity for new employees we are

currently searching for. . . . We believe by us giving back

to our employees, we're doing exactly what you and many

others originally intended with tax reform.

This is fantastic news and proof that we are reaching our goals.

I want to say thank you to Steve, not only for sharing your story but for rewarding the hard work of your employees. It is what happens in small and medium businesses all over the country.

Having started a small business myself, I understand and appreciate the dedication Steve had to his vision and to his employees, because for Steve and so many entrepreneurs, their employees are an extension of their family. So being in a position to provide those folks with a $1,000 bonus each is a big deal. It is a big deal for the company. It is a big deal for the employees. It is reflective of the fact that most small businesses are reinvesting in their future, which means reinvesting in their employees. Steve is a classic example.

Just like Steve, in the last 6 weeks, more than 3 million Americans have seen direct benefits from tax reform, be it bonuses or wage increases or better benefits. It is all good news, and it just keeps on coming. It is good news. More than 300 companies across our great Nation have announced significant benefits for their employees.

There is more. My Investing in Opportunity Act was included in the tax cut, and it is designed to help 52 million Americans living in distressed communities like the very one in which I grew up. We have worked hard to get the IIOA--Investing in Opportunity Act--across the finish line so that it can be deployed in States around this Nation to help those very folks. That means everything from workforce investment, to better education, to businesses being attracted into these opportunity zones.

I want to thank the majority leader for his words on the Investing in Opportunity Act yesterday morning. He is right. This will empower communities, and it will put up a big neon sign that says we are open for business. It will help communities that today may be wavering, questioning whether they can be successful. This is a resounding yes. Yes, you should be hopeful. Yes, you can be successful.

I know these communities full well, and they are full of folks looking for a chance, an opportunity to put their creativity, their intelligence, and their work ethic on display. The Investing in Opportunity Act will provide that chance.

The benefits of tax reform have just begun. Whether it is bonuses for workers, more wages, better benefits, or the implementation of the Investing in Opportunity Act, we know that the best is yet to come for the American people.

Thank you, Mr. President.

I suggest the absence of a quorum.

Mr. President, I have 9 requests for committees to meet during today's session of the Senate. They have the approval of the Majority and Minority leaders.

Pursuant to rule XXVI, paragraph 5(a), of the Standing Rules of the Senate, the following committees are authorized to meet during today's session of the Senate:

committee on environment and public works

The Committee on Environment and Public Works is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 9:30 a.m., to conduct a hearing on the nomination of Andrew Wheeler, of Virginia, to be Deputy Administrator of the Environmental Protection Agency.

committee on environment and public works

The Committee on Environment and Public Works is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 10 a.m., to conduct a hearing entitled ``The Impact of Federal Environmental Regulations and Policies on American Farming and Ranching Communities.''

committee on foreign relations

The Committee on Foreign Relations is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 4:30 p.m. to conduct a hearing.

committee on foreign relations

The Committee on Foreign Relations is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 5 p.m. to conduct a hearing entitled ``Turkey and the Way Ahead.''

committee on homeland security and governmental affairs

The Committee on Homeland Security and Governmental Affairs is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 10 a.m., to conduct a hearing entitled ``Reauthorizing DHS: Positioning DHS to Address New and Emerging Threats to the Homeland.''

special committee on aging

The Special Committee on Aging is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 9:30 a.m., to conduct a hearing entitled ``From Joint Pain to Pocket Pain: Cost and Competition Among Rheumatoid Arthritis Therapies.''

subcommittee on airland

The Subcommittee on Airland of the Committee on Armed Services is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 3:30 p.m., to conduct a hearing.

subcommittee on emerging threats and capabilities

The Subcommittee on Emerging Threats and Capabilities of the Committee on Armed Services is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 2:30 p.m., to conduct a hearing.

subcommittee on public lands, forests and mining

The Subcommittee on Public Lands, Forests and Mining of the Committee on Energy and Natural Resources is authorized to meet during the session of the Senate on Wednesday, February 7, 2018, at 10 a.m., to conduct a hearing.

Mr. President, the last 3 weeks have shown us the beginning of what happens when Congress listens to the American people and delivers on our promises.

For years, we have been talking about real, lasting tax reform-- helping American families bring more of their hard-earned money back home in their paychecks and ensuring that the jobs of the future are created here at home in America.

Last month, we started reaching those goals, and just 3 weeks since we passed tax reform, more than 2 million Americans have received bonuses in their paychecks, and hundreds of thousands of employees have been informed that they will have permanent pay increases or increased benefits.

Right after Christmas, in my home State of South Carolina, Nephron Pharmaceuticals announced that 640 employees will receive a minimum of a 5-percent raise. This is good news. The raise is due to the passage of tax reform. In other words, 2 million Americans all across the country--thousands of Americans in South Carolina--are starting to see the fruit of tax reform.

This is just the beginning. In fact, all across the country, more than 160 companies have already begun the steps of improving the lives of their employees by allowing them to share in the benefits of tax reform. This is counter to what we heard on the floor for days and weeks and I would dare say for months, when folks railed about how the corporations and the companies and the employers of America simply would not share the benefits of lower taxes.

I am thankful that I live in a country and blessed to live in a State where our corporate family has obviously recognized the benefits and the wisdom of sharing the profits with their employees. And that number will rise. As a matter of fact, I think just today the Apple Corporation--home of the iPhones and all those good gadgets--said that instead of making the $1.5 billion investment that they had announced, they would instead make a $300 billion investment here at home in America, creating 20,000 new American jobs. This is good news.

Earlier this month--last week, I believe it was--the IRS announced that they had been able to change the withholdings, and they have predicted--this is an astounding number--that up to 90 percent of employees will see more take-home pay in their paychecks as early as February 15.

You see, lower taxes and higher take-home pay translates into maybe a movie night out for a struggling family, maybe new tennis shoes for a youngster, and, without any question, more money to do more good for nonprofits, for churches and other organizations.

Next year, when they file their taxes, our efforts to double the child tax credit and our efforts to double the standard deduction will kick in, and more families will see more money from their returns.

Frankly, my Investing in Opportunity Act that was included in the tax

reform will present new opportunities for perhaps billions of dollars to be reinvested in distressed communities, like the one where I grew up. More than 50 million Americans live in these distressed communities. And because of the good will of this body, because of the good will of the House of Representatives, and because of the good will of the current administration, millions of Americans will have more reasons to be hopeful in 2018.

This is just the beginning of what a strong, middle-class oriented, business-friendly tax code will do.

I plan to spend more time on the floor of the Senate over the next year, talking about the benefits of tax reform and relaying the stories of employees who are starting to fill my mailbox with amazing stories of the things they are doing with their extra dollars.

This is a good start to 2018, and my prayer is that this is just the beginning.

I suggest the absence of a quorum.

Thank you, Mr. President.

This week, we took a major step toward helping the middle- and working-class family by passing the first significant tax reform package in a generation.

I wanted to take a few minutes to thank a lot of folks for their efforts, hard work, and dedication to this process. At the Member level, both Leader McConnell and Chairman Hatch did amazing work leading us through this process.

I also had the privilege of working as part of the Core 4, with Pat Toomey, John Thune, and Rob Portman, over the past year developing this bill. Those three guys are some of the hardest working Members we have.

I also thank Marco Rubio for his dedication to improving the child tax credit, as well as Mike Lee and Ivanka Trump.

We were also able to include my Investing in Opportunity Act as a part of the legislation. This is legislation that will help distressed communities throughout the country. More than 50 million Americans today live in those distressed communities, and the Investing in Opportunity Act can usher

in trillions of dollars of investment to improve the quality of life and create a spark in some of the most challenging areas of our country economically.

I thank my House sponsor of the bill, Pat Tiberi, and my Democratic cosponsors, Corey Booker and Ron Kind.

We could not have gotten this far without the hard work and dedication of the Finance Committee staff. I thank, in particular, Jay, Mark, Jeff, Jenn, as well as the entire Finance team for their amazing work.

I also want to take a few minutes to thank my staff. I have been blessed with an amazing staff here on Capitol Hill, one of the hardest working staffs I have ever seen. I want to start off by thanking my tax guru, Shay Hawkins, who has done a tremendous job of leading us through this process--fielding thousands of calls and responding to tens of thousands of emails. I would also like to thank my LD, Charles Cogar, for his dedication and his leadership through this time. My chief of staff, Jennifer DeCasper, has done an amazing job of making sure we stayed focused on the objective. The objective was not to simply pass legislation; the objective was, in fact, to change lives where we live, to help the average American experience a little more hope, a little more opportunity by keeping a little more of their money. I also thank my commerce director who has done a fabulous job, Sean Smith, in making sure we communicated effectively the message of hope and opportunity, and my scheduler, Brie Kelly. Thank God for someone who could keep me moving in the right direction. One of the hardest jobs in Washington is being a scheduler for a Member, and being a scheduler for this Member is perhaps the hardest job of scheduling.

My entire team worked diligently, long hours, but that is why we are here. We are here to work long hours, but to produce results-- unparalleled results--that will make the American people have just a little more confidence in their elected officials.

Finally, I have to thank the good people of South Carolina. I was first elected to Congress in 2010, and one of my first pieces of legislation was the Tax Reform Act of 2011--February of 2011--to lower the corporate tax rate and to work on restructuring our Tax Code.

Since my first days in Congress, I have been working on this issue. The good people of South Carolina allowed me to serve as a Senator. I was elected in 2014 and reelected in 2016. I will continue to make sure my focus is back at home, where the good South Carolinians who elected me have given me a great privilege.

I will focus on the fact that our work, our dedication should be focused on those folks. The good news is, during this holiday season, we believe this tax reform package will be an early Christmas present.

Let me just say to all the folks, no matter what side of the aisle you are on, no matter where you live in this country, we are blessed-- truly blessed--to live in the greatest country on God's green Earth. Merry Christmas, and may the good Lord bless us with an amazing new year.

I yield the floor.