Floor Statements

Madam Speaker, we are just 11 days away from a government shutdown, and let me be clear: A shutdown would be a disaster for the American people.

A shutdown would disrupt vital services, halt disaster relief, and put countless Federal employees out of work. We simply cannot afford to go down that path.

Speaker Johnson made the deliberate choice to tie the SAVE Act, which seeks to create burdensome barriers to voting, directly to the government spending bill. He is setting himself up to fail to push a voter suppression bill. This is just another attempt to make it harder for Americans to participate in democracy.

We already have processes in place to verify citizenship during registration. Only citizens can vote in U.S. Federal elections. Let me repeat that: Only citizens can vote in U.S. Federal elections.

Study after study shows that noncitizen voting is not affecting our elections. It is a Federal crime for noncitizens to vote in Federal elections, and noncitizens who violate the law and attempt to vote anyway face prison time and deportation.

Here is the plain truth: At Donald Trump's orders, extreme MAGA Republicans are holding government funding hostage unless they can impose some of the most radical pieces of Donald Trump's Project 2025 agenda.

Instead of wasting time with political games, Republicans must stop following the former President's orders and join Democrats in a bipartisan effort to pass a short-term funding extension free of poison pills so we can keep the government open and complete a bipartisan government funding process this year. We did it last year, and we can do it again.

Instead of focusing on the needs of the American people, extreme MAGA Republicans are more interested in playing puppet for Donald Trump.

Let's be clear: Donald Trump wants to shut down the Federal Government. Is this really the leadership the American people deserve or just a chaotic circus of partisan political games?

This is not how you govern. This is how you create chaos. Instead of collaborating for the good of the country, they are threatening a shutdown just to appease a former President. Are they representing their constituents or just following orders directly from Mar-a-Lago?

Let's not forget, a government shutdown doesn't impact politicians. It harms everyday Americans. For some Republicans, it is just another opportunity for partisan political theater.

The American people are tired of the Trump show. They want results. I came to Congress to get things done. We are on track to be the least productive Congress in our Nation's history because Trump Republicans continue to play partisan political games.

Let's put people over politics and come together to pass a clean continuing resolution that supports the needs of our constituents and keeps the government open for business. We owe it to the American people to prioritize their well-being and their best interests.

I will work with anyone and everyone to keep the government open, and a bipartisan path in a divided Congress is the only way forward. Let's stop wasting time and fund the government.

Mr. Speaker, I was away from the floor during one vote today. Had I been present, I would have voted NAY on Roll Call No. 421.

Mr. Speaker, I rise today in devastation and anger following the shooting at Apalachee High School, the deadliest outbreak of school violence in Georgia's history.

As a father, I am heartbroken. As a Congressman, I am beyond frustrated that our work to improve school safety can't keep pace with the gun violence epidemic that is plaguing our country.

The time for thoughts and prayers is over. It is time for action. Our kids deserve much more from the United States Congress.

Guns are the leading cause of death for children in this country. This isn't normal, and it shouldn't be. Our students, families, and communities deserve to feel safe from gun violence. That means taking action, not just talking about it, and I believe we can do that together with responsible gun owners.

I am a responsible gun owner. We want commonsense measures, too: universal background checks, safe storage laws, and banning assault weapons. These are mainstream ideas supported by the vast majority of the American people. They are about saving lives.

Let me be clear, Mr. Speaker. We will not accept mass murder and gun deaths to be the norm. Mass school shootings are not a fact of life. We don't have to live this way.

This year, I had the opportunity to go to Parkland, Florida, with Congressman Moskowitz where we met with survivors of the deadly 2018 shooting to hear their stories. They lived through the worst, and yet they keep pushing for change.

We have failed to do our part in the few short years since that horrific school shooting, even when the majority of the American people agree on how to move forward.

In an April 2023 survey, FOX News found overwhelming support for commonsense gun violence prevention measures. Over 80 percent of Americans support background checks, making 21 the legal age to buy guns, and requiring mental health checks on all gun buyers.

In Congress, I am part of the House Gun Violence Prevention Task Force and cosponsor of the Bipartisan Background Checks Act. It is simple. If you want to buy a gun, you should have to pass a background check. That applies to sales between private parties, too. Right now, there are loopholes that let guns slip into the wrong hands. That has to end.

I have also cosponsored the Assault Weapons Ban. No civilian needs an assault rifle. These weapons belong on the battlefields, not in our schools and not in our neighborhoods.

There is also Ethan's Law. This is about accountability. It promotes the safe storage of firearms, so they don't end up in the hands of kids. It is about being responsible for your weapon, for your family, and for your community.

I support a ban on high-capacity magazines, and I support closing the boyfriend loophole. That is the one that lets domestic abusers buy guns. Domestic violence and gun violence are often linked. This loophole costs lives.

Let's not forget mental health. We need to fund mental health care and expand access to it, but mental health alone isn't the issue. This is also about guns.

We need to act now. We need to keep our kids, our neighbors, and our communities safe with no more delays. Over 40,000 people lost their lives to gun violence last year alone. There are no more excuses. Massacres carried out using high-capacity magazines and bump stocks must end.

There should be no more indifference. Poor and minority communities cannot continue to be disproportionately impacted by gun violence. No more inaction. Over 20,000 Americans die by gun suicide every year, which is why we mark tomorrow, September 10, Firearm Suicide Prevention Day.

There should be no more deadly outcomes. Domestic violence should never turn fatal because of easy access to guns. We have waited long enough. It is time to act. There is no question that gun violence is out of control, and it is time we face it head-on.

I will work with anyone--Republicans, Democrats, and Independents--

to make sure that happens. It is not just about policy. It is about people. People are dying. We can't wait any longer.

Mr. Speaker, I rise today to recognize my constituent Ms. Dianna Wynn of Cary who has been elected President of the League of Women Voters.

Through her experience in advocacy and demonstrated dedication to democracy, Ms. Wynn has proven herself exceedingly qualified for this distinguished role.

Ms. Wynn has been a longstanding fighter for voting rights. Prior to joining the League of Women Voters, she was President of the ACLU of North Carolina where she was a strong advocate for fair voting maps in North Carolina and an end to partisan gerrymandering.

She first joined the League of Women Voters in 2013 and served the role of president of the Wake County chapter in Raleigh, NC.

The League of Women Voters, founded in 1920, began with the mission to empower women to exercise their newly won right to vote. The organization has grown into a political grassroots network that promotes voter participation through education and advocacy.

As President, Ms. Wynn aims to protect voting rights as a core tenant of our democracy. I commend her for using her platform to strengthen our elections and provide nonpartisan election information to encourage greater participation in our elections.

I am confident that Ms. Wynn will serve the League of Women Voters in their efforts to ensure that women's electoral voices are heard and to strengthen our democracy.

Please join me in congratulating Ms. Wynn on this great accomplishment. I wish her well in her new role as President of the League of Women Voters.

Mr. Speaker, I rise today to recognize Equality NC, which has a remarkable history as the oldest statewide organization in the country devoted to promoting LGBTQ rights.

Through grassroots organizing, education, and advocacy, the organization has made landmark strides towards equality for everyone regardless of their lived and expressed identity.

I appreciate Equality NC's efforts to push for legislation that calls for nondiscrimination on the basis of sexual orientation, gender identity, and expression in housing, employment, public accommodations, credit, insurance, and education.

One of their most notable achievements was leading the fight against HB2, a dangerous and discriminatory bill against the LGBTQ community that was later repealed after a successful public pressure campaign.

Equality NC has time and time again supported North Carolinians from their work on HIV/AIDS education to providing youth programming.

Through policy work and activism, Equality NC is leading the way towards a more equitable future for all North Carolinians.

Please join me in supporting their efforts to make the world a safer place for everyone, no matter who they are or who they love.

Mr. Speaker, I rise today in strong opposition to the highly partisan resolution criticizing Vice President Kamala Harris' work on the border.

Like so many Americans, my constituents are sick and tired and they are worried that immigration and border security are being used as political talking points instead of a policy priority.

I agree, but facts are facts. It has been over 100 days since congressional Republicans walked away from the table on the most comprehensive, bipartisan border security deal in decades because former President Trump wants to politicize the issue rather than to find an actual solution.

Let's be clear: Trump killed the deal.

Mr. Speaker, the best way to restore order at the border and fix our broken immigration system is passing a bill through Congress. That is exactly what the Biden-Harris administration wanted to do. I know we can get this done, but only if we work together, not as Democrats and Republicans, but as Americans.

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

Mr. Speaker, I rise in support of H.R. 2969, the Financial Technology Protection Act of 2023 sponsored by my colleague Representative Nunn from the great State of Iowa and Representative Himes.

As its sponsors recognize, the benefits offered by emerging financial technologies, including digital assets, including peer-to-peer technologies and blockchain-based exchanges, can be a boon to consumers and industry, providing speedy transactions, anonymity, and lower costs. It is important that we encourage this innovation here in the United States.

These same traits, however, can be abused by bad actors for laundering money and obscuring ownership and source of funds allowing traffickers, terrorists, kleptocrats, and other bad actors to move and hide their operational assets and the proceeds of their crimes.

This bill establishes a public-private independent financial technology working group to combat terrorism and illicit financing to make related recommendations to Congress for new financial crime legislation and regulations.

All Members of this body should support efforts to detect and defer illicit finance while encouraging responsible innovation that will propel our country and our economy into the future.

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

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

Mr. Speaker, I have no further speakers, and I yield myself the balance of my time to close.

Mr. Speaker, I again urge my colleagues to support this bill, and I yield back the balance of my time.

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

Mr. Speaker, I rise in support of H.R. 7280, the HUD Transparency Act of 2024, sponsored by Representative De La Cruz, which would require the inspector general of the Department of Housing and Urban Development to testify before Congress on an annual basis.

While this bill passed out of committee on, again, a bipartisan basis, House Democrats are working to put people over politics, and we urge our Republican counterparts to support

real solutions to combat our Nation's housing and homelessness crisis, including the Housing Crisis Response Act, the Ending Homelessness Act, and the Downpayment Toward Equity Act offered by Ranking Member Maxine Waters earlier this Congress.

This comprehensive package of bills would help spur the development of over a million affordable homes to help bring down rents, curb rising homelessness, and revive the dream of homeownership for all.

These are the types of solutions our constituents are calling on us to advance as they continue to face the crushing blow of housing inflation.

Mr. Speaker, I also note that I recently introduced the Keep Housing Affordable Act, which would bolster the low-income housing tax credit to incentivize developers to maintain the affordability of housing units for extended periods and boost the supply of affordable housing. Mr. Speaker, the high cost of housing is one of the main issues for my constituents in North Carolina.

Mr. Speaker, we were supposed to be considering another bill on the floor today, H.R. 7462, the Wildfire Insurance Coverage Study Act of 2024, sponsored by Ranking Member Waters. This bill is a commonsense measure to direct the Government Accountability Office to study the reasons why insurance companies are exiting States and refusing to provide insurance against wildfire perils.

This bill passed the committee by a broad bipartisan vote of 47-2, but unfortunately, Republican leadership pulled the vote. The majority didn't think Congress should understand why folks are losing their insurance coverage or what we can do about it.

Over the last week, communities across the country have been experiencing record heat waves as wildfires continue to ravage communities from California to Texas, Hawaii, Oklahoma, and Virginia. I hope the Speaker will quickly reconsider this ill-advised decision to pull the bill so we can bring the bill to the floor. Again, it passed 47-2 out of committee.

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

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

Mr. Speaker, I support this bipartisan bill but also remind my Republican colleagues that we must come together to advance real solutions to the worsening housing and homelessness crisis.

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

Mr. Speaker, we need to level the playing field in North Carolina to ensure that underrepresented entrepreneurs have a seat at the table.

That is why I am introducing the Supporting Diverse Entrepreneurs Act alongside Congresswoman Alma Adams. This bill will broaden the scope and funding for programs that support minority-owned businesses.

Our bill would expand Minority Business Development Agency business centers near historically Black colleges and universities and other minority-serving institutions.

Doing so will help create a network of accessible business resources to help young, diverse entrepreneurs thrive.

I will continue to work with every ounce of my energy to expand economic growth and opportunity, increase access to capital, and support North Carolina's small business ecosystem.

Mr. Speaker, last week, I joined the All Veteran Group to raise awareness and draw attention to my bill, the FAIR MAPS Act, by skydiving from 14,000 feet in Cumberland County, North Carolina, just outside of Fort Liberty. I was proud to elevate the issue of partisan gerrymandering to new heights and call out the need for fair maps in North Carolina and across the country.

My bill, the FAIR MAPS Act, combats partisan gerrymandering by establishing independent, nonpartisan redistricting commissions in every State. The FAIR MAPS Act has the potential to double the number of competitive House seats. If signed into law, that is a big deal.

In North Carolina and across the country, partisan gerrymandering has been used as a tool by politicians to manipulate the outcomes with surgical precision. Gerrymandering disenfranchises voters and leads to hyper-partisanship. It is the main reason we are on track to be the least productive Congress in our Nation's history.

It is simple. Voters should choose their politicians, not the other way around. While my name won't be on the ballot this year, I am not giving up or going out quietly. I am going to do everything I can to fight for fair maps, end partisan gerrymandering, and protect the right to vote for every single North Carolinian.

Women's Rights

Mr. Speaker, this week was the second anniversary of the ruling in Dobbs v. Jackson Women's Health Organization, which overturned Roe v. Wade in an extreme attack on women's rights in America.

In North Carolina, the aftermath of the Dobbs decision has been devastating. In July 2023, North Carolina's Republican majority general assembly enacted a law prohibiting abortion after 12 weeks with few exceptions and mandated in-person, State-directed counseling 3 days before the procedure.

Other States have outlawed abortion and similar reproductive health services altogether. In Alabama, a State Supreme Court ruling has effectively stopped access to in vitro fertilization, or IVF.

I am pro-choice and a committed member of the House Pro-Choice Caucus. I want my daughter to grow up in a world where she has the same rights that her mother and grandmother had for the last 50 years. I will continue working in Congress to restore and protect the right to choose by codifying Roe v. Wade into Federal law.

Diversity is our Strength

Mr. Speaker, former President Donald Trump recently told wealthy donors and CEOs that foreign nationals who graduate from U.S. colleges and universities should automatically be given a green card. After doing nothing on immigration reform for 4 years, he is a bit late to the party.

Unlike the former President, I believe that diversity is our strength. That is why I introduced the bipartisan Keep STEM Talent Act in September to provide permanent resident status to international students who have completed advanced STEM degrees from U.S. educational institutions and are interested in continuing their work in the United States. They should automatically be given a green card.

To remain at the forefront of cutting-edge scientific and technological innovation, we should ensure that international students who come to North Carolina for higher education can stay in the United States once they graduate.

This commonsense effort will help ensure that America retains its position as the world leader in science and technology by retaining talented workers in the STEM workforce. Let's get this done in a bipartisan way and move it through this Congress.

Access to Safe and Affordable Housing

Mr. Speaker, more than 343,000 households in North Carolina spend over half of their monthly income on rent, leaving too little for other expenses like healthcare, transportation, and groceries. Access to safe and affordable housing is essential to the well-being of working families and individuals in North Carolina and throughout the country.

That is why I am proud to introduce the Keep Housing Affordable Act. The Keep Housing Affordable Act is a crucial solution that incentivizes developers to maintain the affordability of homes for a long time to come.

My bill will bolster and expand the low-income housing tax credit, which currently only requires affordable housing units to remain affordable for 30 years. My bill will provide incentives for units to remain affordable for decades to come.

This will help boost the affordable housing supply, enhance home quality, and create long-term stability for low- and middle-income communities across North Carolina's 13th District. I will keep working to put forth commonsense ideas and solutions to lower housing costs and increase the supply of affordable housing.

Mr. Speaker, I rise today to honor our 2024 Congressional Medalist recipient from North Carolina's 13th Congressional District, Hemharsith Sivakumar Gayathri. At such a young age, Mr. Gayathri has demonstrated tremendous leadership, academic excellence, and commitment to his community.

Hemharsith has been recognized for his academic and community contributions with the Outstanding Academic Excellence Award from the President of the United States and the Community Oscar Award for Outstanding Student of the Year.

In a testament to his determination and skill, Hemharsith is an FAA- certified glider pilot, who embarked on his journey in gliding at the age of 14 on August 14, 2021. He achieved a significant milestone on October 22, 2022, by completing his Glider Solo. His dedication and perseverance led to the attainment of his Glider License at the age of 16 on July 2, 2023, marking a remarkable milestone in his aviation journey.

Hemharsith has showcased exceptional leadership by founding the South Garner High School Cadet Titan Corps and actively engaging in the Civil Air Patrol, where he achieved the esteemed rank of Cadet 1st Lieutenant and was honored as the recipient of The Mitchell Award.

Hemharsith's dedication to community service is evident through his roles as a junior volunteer firefighter at Fairview Fire Department, a certified Red Cross lifeguard, and an active volunteer in various flying associations.

Hemharsith is also a leader in academics and is ranked among the top few in his class at South Garner High School. He has committed himself to excel further in learning and is a high-achieving student in the CCP program at Wake Tech Community College.

Mr. Speaker, I ask my esteemed colleagues to join me in extending our heartfelt congratulations and best wishes to Hemiharsith Sivakumar Gayathri as he accepts the Congressional Medal for 2024. His commitment to service, perseverance, and academics represents the best of our state, reminding us all of the impact one person can have on the world around us.

A sincere and heartfelt congratulations to Mr. Gayathri on this well- deserved recognition.

Mr. Speaker, I was unable to vote on Thursday, June 13. Had I been present, I would have voted NAY on Roll Call No. 261; NAY on Roll Call No. 262; NAY on Roll Call No. 263; NAY on Roll Call No. 264; NAY on Roll Call No. 265; NAY on Roll Call No. 266; NAY on Roll Call No. 267; NAY on Roll Call No. 268; NAY on Roll Call No. 269; NAY on Roll Call No. 270; NAY on Roll Call No. 271; NAY on Roll Call No. 272; NAY on Roll Call No. 273; NAY on Roll Call No. 274; and NAY on Roll Call No. 275.

Mr. Chair, I rise in support of the Financial Innovation and Technology for the 21st Century Act, or FIT21, which I am proud to cosponsor.

This legislation is a product of hundreds and hundreds of hours of bipartisan collaboration, and I was proud to work with Chair McHenry, Digital Assets Subcommittee Chair Hill, and members of the House Financial Services Committee to get this bill on the floor.

This is a big deal. We are currently relying on 90-year-old securities laws written before the internet even existed. Congress has never voted on a regulatory structure for crypto.

Roughly 20 percent of Americans have invested, traded, or used crypto. It is not going anywhere. Whether you love crypto or you hate it, you should support regulation, because the status quo just isn't working. We can't wait for the next FTX to take action.

It is clear there are regulatory gaps between the SEC and the CFTC. Right now, the United States is the global leader in financial services and technology. If we still want to hold this position in 50 years, then we need to pass FIT21.

Support for U.S. leadership in digital assets shouldn't be a partisan issue. I urge my colleagues on both sides of the aisle to support this legislation.

Mr. Chair, I include in the Record a letter of support from the Chamber of Progress outlining how FIT21 lays out strong rules of the road, consumer protections, and supports innovation.

[From Chamber of Progress]

HR 4763: Financial Innovation and Technology for the 21st Century Act (FIT21): Strong Rules, Consumer Protections, and More Oversight Over

Digital Assets

We need strong, clear federal rules and oversight over the

digital assets industry that embrace innovation while

protecting consumers and the integrity of markets.

HR 4763, the Financial Innovation and Technology for the

21st Century Act (FIT21), is the first bill regulating the

digital assets industry that has received bipartisan approval

from both the House Financial Services and House Agriculture

Committees. It is scheduled for a floor vote this week.

House Democrats Supported This Legislation

A cross section of Members spanning the Democratic Caucus

have recognized that this bill provides an effective and

needed regulatory framework for digital assets. The

legislation:

Passed the House Financial Services Committee on July 26

with six Democratic votes: Reps. Himes, Gottheimer, Torres,

Horsford, Nickel, Pettersen.

Passed the House Agriculture Committee by voice vote on

July 27.

What House Dems Are Saying About HR 4763

Rep. Ritchie Torres (D-NY): ``For me, the lack of

protection for retail investors underscores the fierce

urgency around passing a

market structure bill to protect the average American

consumer.''

Rep. Jim Himes (D-CT): ``I'm a deep skeptic of this

industry, but we deserve better than the status quo.''

Rep, Wiley Nickel (D-NC): ``I firmly believe in the SEC's

mission to protect investors, but for this to be effective,

Congress needs to pass legislation with a clear regulatory

framework.''

Rep. Yadira Caraveo (D-CO): ``This is not a perfect bill.

But I believe that it is a good step in the right

direction.''

Bill Expands the Federal Government's Role in Regulating Digital Assets

Current securities laws and regulations do not account for

the complexities of digital assets. This legislation expands

the authority of the CFTC and SEC, giving them joint

oversight over all digital assets, allowing them to issue

joint rulemakings, and ensuring market safety and investor

protection. HR 4763 also gives the SEC clear authority over

certain digital assets that do not meet requirements to be

regulated by the CFTC. This allows the SEC to allocate their

limited resources to regulating solely those digital assets

that fall within its jurisdiction. Additionally, the CFTC

will receive an increase in funding to adequately fulfill

their oversight responsibilities.

HR 4763 also requires the GAO to conduct studies on the

development of emerging technology in digital assets, like

non-fungible tokens (NFTs), and directs the CFTC and SEC to

study the impact of digital assets on markets and investors

through codified FinTech programs and Joint Advisory

Committees.

Protects Consumers from the Next FTX

Given that roughly 20 percent of Americans have invested,

traded or used cryptocurrency, the digital asset industry

will continue to attract American investors for years to

come. HR 4763 provides much-needed consumer protection by

filling the regulatory gaps between the SEC and CFTC,

creating accountability for digital asset companies through

registration and disclosures, requiring companies to

establish policies to mitigate potential conflicts of

interest, and giving regulators increased power over bad

actors.

Communities of color are investing in digital assets at a

higher rate than most Americans. According to Pew Research

Center polls in 2021 and 2022, some 20 percent of Black,

Hispanic and Asian U.S. adults have bought, traded or used

cryptocurrency, compared with 13 percent of white adults.

These communities are at increased risk of losing their

investments if similar events like FTX, Terra/Luna and others

continue to happen without regulatory safeguards for

Americans.

Protects America's National Security & Ensures American Oversight Over

Crypto

By enhancing oversight of digital assets through the CFTC

and SEC, HR 4763 ensures all digital assets will be subjected

to transparency and compliance metrics that would deter

illicit financing, money laundering and other financial

crimes. The ability for regulators to issue clear rules for

the digital asset industry will prevent threats to our

financial system and keep digital asset companies from

relocating abroad to countries with fewer rules.

There are good national security reasons to keep the

industry under the Federal government's watchful eye. For

example, after Vladimir Putin ordered an invasion of Ukraine,

the U.S. government released economic sanctions against

Russia that included instructions for American digital asset

exchanges to block Russian users from handling currency

through their services.

While U.S.-based digital asset exchanges abided by our

sanctions, international exchanges like Binance refused,

continuing to serve Russian users and creating a potential

loophole for Russian actors to finance war operations through

their markets. Throwing away our jurisdiction over an

emerging global financial industry, no matter its flaws,

would jeopardize America's influence on the world stage.

Mr. Speaker, I rise in support of the Financial Innovation

and Technology for the 21st Century Act, or FIT21.

I am proud to have played a critical role in crafting this bipartisan legislation. As a member of the House Financial Services Committee, I worked with my fellow North Carolinian and Chairman Patrick McHenry and Digital Assets Subcommittee Chairman French Hill, to ensure this bill brings regulatory clarity to the digital assets market while protecting consumers, promoting innovation, and advancing U.S. national security.

The FIT for the 21st Century Act represents a bipartisan effort to regulate centralized intermediaries in the digital assets markets, prevent the next FTX, safeguard consumers, cement the U.S. as a global leader in finance and technology and promote a secure, innovative, and inclusive financial future.

This commonsense legislation is designed to stop another FTX from happening by giving regulators increased power over bad actors, filling regulatory gaps between the SEC Commission and CFTC, creating accountability through registration and disclosures, requiring companies to mitigate conflicts of interest, and requiring firms to segregate customer funds from their own.

This legislation provides the CFTC with the resources they requested to undertake the new rulemaking required by FIT21 and authorizes the CFTC to charge fees to intermediaries seeking to register.

This would be a big deal for the United States. Congress has never voted on a regulatory structure for crypto. In fact, we are operating under a 100-year-old securities law. We are the global leader in financial services and technology today. If we want to be the global leader in 50 years, then we need to pass the FIT for the 21st Century Act.

The legislation will allow the digital asset ecosystem to thrive in the United States, cementing American leadership of the global financial system and the next generation of the internet. Without this, the SEC's regulation by enforcement will push the industry overseas where Americans are not protected.

Additionally, I am proud to have secured an amendment to this legislation during the markup, supported by leaders in both parties on the Financial Services Committee, expressing the sense of Congress that the U.S. should seek to foster advances in this exciting new era of the internet to improve our financial system and create more fair and equitable access to Financial Services for everyday Americans.

Much like the dawn of the internet, this new blockchain technology sometimes feels like uncharted territory with immense possibilities. We are responsible for ushering in this new era in a way that harnesses innovation and ensures consumers are at the forefront.

Digital assets and blockchain technology have the potential to revolutionize our society. They can grow the economy, foster collaboration, enhance transparency, increase efficiency, and reduce transaction costs for working families.

Given the rapid pace of digital innovation, we must ensure these advancements are not at the cost of consumer safety.

FIT21 will address these challenges by establishing stricter regulatory requirements for emerging financial technologies and ensuring that these innovations are secure and transparent before they reach consumers.

Here is the reality: roughly 20 percent of Americans have invested, traded, or used crypto, so it is not going anywhere.

Unfortunately, the SEC's open hostility toward the digital assets industry is not serving President Biden's best interests. The SEC is turning cryptocurrency regulation into a political football and forcing President Biden to choose sides on an issue that matters to many Americans.

As a result, the U.S. is falling behind jurisdictions like the EU, U.K., Hong Kong, Japan, Singapore, and the UAE. We can't afford to lose our status as the economic and technological powerhouse of the globe.

Whether you love crypto or you hate it, you should support regulation. The status quo just isn't working, and we can't wait until the next crisis to take action.

It is past time for Congress to act, and we have the opportunity to do this, this week, with the FIT for the 21st Century Act.

Mr. Speaker, I urge my colleagues on both sides of the aisle to support this legislation to send a clear message that our priority lies in protecting consumers, cementing the U.S. as a global leader in finance and technology, and promoting an innovative and inclusive financial future.

Madam Speaker, May 18 marks 15 years since the end of Sri Lanka's almost 30-year armed conflict, a war that tragically ended hundreds of thousands of lives. This conflict shattered families and communities, leaving deep scars that are still felt to this day.

This week, I am introducing a resolution that commemorates those lost and aims to protect the Tamil community from future violence and discrimination.

My resolution recognizes the genocide in Sri Lanka and affirms of right of Tamils to self-determination through a democratic process.

The Tamil people have a long history of distinct cultural and political identity on the island now known as Sri Lanka.

Historically, they lived in sovereign Tamil kingdoms that were forcibly merged under a single administration in 1833 by the British. This erasure of autonomy set the stage for decades of strife, conflict, and suppression, culminating in war.

My resolution emphasizes the need for a peaceful and democratic solution to ongoing tensions in Sri Lanka. It advocates for an independence referendum, a process that has been used successfully to resolve similar conflicts in other parts of the world. This approach echoes our commitment to democratic principles and underscores our support for human rights globally.

Additionally, my resolution calls on the United States to strengthen diplomatic ties and support the Tamil people's pursuit of justice and self-determination. It highlights the ongoing challenges in the region, including the militarization of Tamil areas, the appropriation of land, and the destruction of cultural heritage, which continue to exacerbate the grievances of the Tamil community.

Today, as we remember the end of a dark chapter in Sri Lanka's history, we

should also look to the future, a future in which the rights and dignity of all people are upheld and respected. Let's stand together in advocating for a peaceful, democratic solution that respects the Tamil people's right to decide their own future.

This resolution is not just symbolic. It is a crucial step toward healing, justice, and a lasting peace.

We are seeing recognition and support grow slowly but surely for this issue. Thanks to the Tamil community's continued advocacy and partnership, Members of Congress are now discussing this issue.

We have a caucus called the Ethnic and Religious Freedom in Sri Lanka Caucus, specifically to address the Federal Government's role in righting this wrong. We are making real progress, and I am proud to co- chair this caucus.

We started with advocacy and legislation when I was a State senator in North Carolina, and now we are continuing the fight in the United States Congress by introducing a resolution that affirms the right of Tamils to pursue an independence referendum.

Madam Speaker, I urge all of my colleagues in the House to support this important legislation. It is an opportunity for us to lead by example, to champion the values of democracy and human rights, and to make a meaningful difference in the lives of the Tamil people.