tv U.S. House of Representatives Legislative Business CSPAN December 1, 2016 2:00pm-4:01pm EST
that they can serve their customers on main street. the primary test for systemic importance is this arbitrary threshold of $50 billion. above that line an institution is designated systemically important. or too big to fail. below that line, regardless of the institution's risky activities, it's exempt. this bill that we're supporting does away with this blunt threshold and direct it's fsoc and its constituent agencies to consider the institution's actual activities, to determine if it actually is risky, if it's not it deserves relief. so that it can serve its customers better. size is not the only issue, it's interconnectedness, it's risky activities, and many of these regional banks that serve my constituents in central and eastern kentucky, not wall street, central and eastern kentucky, farmers, small business owners, homeowners in kentucky are being crushed and denied access to capital because of one-size-fits-all regulation from washington. unlike dodd-frank's arbitrary
approach, this will better promote financial stability because it actually targets the enhanced regulation to where it belongs and not on wall street. . the bottom line is we're hearing from regional banks around the country that the eblingts spence of complying with these enhanced regulations and the sifi surcharge means less capital for employment in mortgages and automobile loans, small business loans. it means higher credit card rates. it means fewer customer rewards. tim pacts these institutions' ability to engage in if i lan throw at this pi and community development activities. treating these regional banks s complex wall street firms is illogical. these are traditional banks -- the speaker pro tempore: the entleman's time has expired. the gentleman's time has expired. the gentlelady from california. the gentleman from missouri reserves. the gentlelady from california is recognized. ms. waters: i reserve the balance of my time. the speaker pro tempore:
gentlelady reserves. the gentleman from missouri is recognized. mr. luetkemeyer: we recognize the gentleman from pennsylvania, mr. rothfus, one of our more thoughtful members on the committee. yield him two minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. rothfus: thank you, mr. speaker. i rise today in strong support of h.r. 6392. this bill, the systemic risk designation improvement act offers a commonsense approach to the process of designating systemically important financial institutions. in doing so, it addresses a problem that republicans and democrats have complained about for some time. dodd-frank's $50 billion threshold for identifying sifis is a crude and arbitrary way to desigh which firms pose a risk to the stability of the financial system. it's important to remember that sifi designation isn't trivial. when the financial institution is labeled as a sifi, it faces supervision and costs without regard to the nature of the bank or the bank's accordingly, sifi designation impacts a firm's lending ability and therefore the firm's customers in their -- and their
customers' ability to thrive. if we care about protecting financial stability and having a healthy financial system, we have a responsibility to pursue a fairer, more transparent, and more accurate process. the approach set forth under h.r. 6392 represents a more rational process for evaluating financial institutions as opposed to the washington tradition of one-size-fits-all. under this bill the financial stability oversight council would be required to look at not only the size of a financial institution, but also it's interconnectedness, complexity, cross jurisdictional activity, and the availability of substitutes. keep in mind that banks designated as sifis today may still be designated as sifis under this new approach. this bill's reforms will inject the fsoc's sifi designation process with greater clarity and fairness and it will result in more appropriately targeted regulatory efforts. i commend chairman luetkemeyer
for his work on this important issue and proud to be a co-sponsor of this bill in its original form. i urge my colleagues to support this bill. i yield back. the speaker pro tempore: the gentleman from missouri reserves. the gentlelady from california is recognized. to the s: i yield gentleman from texas an additional minute. the speaker pro tempore: the gentleman from texas is recognized for one minute. >> thank you, madam speaker, and madam ranking member. mr. green: let's look at this question because $50 billion was selected for a reason anti-reason is this. if you don't have a threshold, we knew at the time as we know now that you won't get any banks designated because the banks are going to sue and they are going to tie you up in court. maybe some will not, but you're going to have a real fight on your hand getting them to be designated and it can take two to four years to get it done. looking at the banks that are covered, only three of the banks covered are in the $50 billion range.
the top 15 are over $100 billion, and the top bank is about half trillion dollars. again, only in washington, d.c., would this kind of monny, a half trillion for one bank, be considered small change. we cannot allow the banks to dominate the process. we put the process in the hands of the banks when the regulators have to take them on one at a time. finally, what's wrong with telling a bank you have to tell us how to eliminate you if you become a systemic risk? that's what dodd-frank does. this bill eliminates the ability of fsoc to determine and tell banks that they must give us living wills. the speaker pro tempore: the gentleman's time has expired. the gentlelady from california reserves. the gentleman from missouri is recognized. mr. luetkemeyer: thank you, madam speaker. with that we want to recognize the gentleman from colorado, mr. tipton, one of our hardest working members on the committee, two minutes. the speaker pro tempore: the gentleman is recognized for two minutes.
mr. tipton: thank you, madam speaker. i'd like to thank my colleague from missouri, representative luetkemeyer, for offering this important piece of legislation under consideration today. the bipartisan systemic risk designation improvement act replaces an arbitrary asset threshold with indicator-based approach that will better assist financial stability oversight council in determining the true systemic risk of a financial institution. it is a mistake for regulators to continue regulating a $50 billion bank in the same way they regulated a $1 trillion globally systemic important institution. in fact, this view is shared among regulators and legislators. comptroller curry, federal reserve board members, senator brown, and former chairman barney frank have made public comments agreeing that the $50 billion sifi threshold is not the best determination for imposing heightened prudential standards. this bill introduces a better anna list driven approach requiring the council to consider metrics considered
established by the committee on banking supervision when it identifies globally systemically banks. the designation improvement act will stop the current regulatory model of needlessly increasing compliance costs and forcing institutions to decrease financial services. by ensuring that the sifi designation process takes into account indicator factors, finance institutions not the cause of the financial crisis, will once again be able to fully serve their communities. not only will this legislation provide relief for stable financial institutions, but it will also allow regulators to focus their resources, working with institutions to pose an actual systemic risk to the financial system. it is important to note that this legislation does not strip the fsoc of designation powers. it is concerning that some groups oppose a bill that encourages council to use accepted measures of standards to justify a sifi designation. systemic importance should be determined by appropriate criteria rather than by
arbitrary lines. and have no justifiable purpose. to advocate for the status quo and against this legislation shows a fundamental misunderstanding of the financial system and systemic risk. i'm happy to lend my support to this bill and encourage my colleagues to support this commonsense measure. again thank gentleman from missouri for his leadership on this measure. the speaker pro tempore: the gentleman's time has expired. the gentleman from -- reserves. the gentlelady from california is recognized. ms. waters: i continue to reserve the balance of my time. the speaker pro tempore: the gentlelady reserves. gentleman from missouri is recognized. mr. luetkemeyer: madam speaker, could inquire how much time is left for both sides? the speaker pro tempore: 2 1/2 minutes for the gentleman. and the gentlewoman has five minutes. mr. luetkemeyer: with that want to recognize the lady from utah, mrs. love, one of our -- we have a good crop of young folks in our committee. she's one of those bright stars for us. recognize her for one minute. the speaker pro tempore: the gentlelady is recognized for one minute.
mrs. love: mr. speaker, we have before us a solution to regulation that causes real harm to important financial institutions. especially in my state. zions bank corporation which supports the financial needs of many families and businesses throughout utah and the western states. last year zions bank corporation c.e.o. and chairman spoke about increased compliance costs his institution has to face as a result of enhanced prudential standard requirements of the dodd-frank act. specifically, zions had to diverse resources to add nearly 500 additional full-time staff to areas such as compliance, internal audits, credit administration, and enterprise risk management. mr. simmons also testified at the house financial services financial institutions subcommittee that these increased compliance costs are offset by reductions in other areas of the organization. any of them are consumer
facing functions. zions bank had to remove resources away from lending to customers and consumer service because of these extra regulation. yet zions is one of the smallest sifis with a business model centered on very traditional banking activities. primarily commercial lending with particular focus to lending on smaller business. i support h.r. 6392 and allow banks like zions bank to get back to what they do best. the speaker pro tempore: the gentlelady's time has expired. the gentleman reserves. the gentlelady from california is recognized. ms. waters: i continue to reserve the balance of my time. the speaker pro tempore: the gentlelady reserves. the gentleman from missouri is recognized. mr. luetkemeyer: thank you, madam chair. with that we want to recognize the gentleman from arkansas, mr. hill, who brings a wealth of financial service background to the committee and certainly want to help him with his expertise here. with that we yield him one
minute. mr. hill: i thank the chairman. i thank the madam speaker. this bill today is not about dangerous agendas, greed, or signing bonuses, or wholesale exemptions of regulation for 27 big banks. not at all. this bill is about using commonsense and -- common sense and taking off the auto pilot that's in dodd-frank which designates our sifis on size alone. in fact, includes all the factors that should be considered for institutions that might present a systemic risk. this is a bipartisan bill that has support on both sides of the aisle. chairman -- former chairman frank's comments have been read into the record but how about governor tirrillo. they do not seem to be necessary for banks between $50 billion and $100 billion. tom curry, our comptroller of the curncy, the better approach is to use an asset figure as a first screen and then give
discretion to supervisors based on risks in the business plan and operations. and senator sherrod brown, certainly a supporter of dodd-frank, i do not agree that some banks over $50 billion should be regulated like wall street megabanks. i support this bill and i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from missouri reserves. the gentlelady from california is recognized. thank you very much , madam chair lady. here we're in the lame duck session of congress and we are signaling to special interests all the give aways that are about to come with republicans in control of washington. and we do this just after the president-elect selected a man to head the treasury department whose bank has been accused of red lining and violating the fair housing act. whose bank was responsible for about 40% of reverse mortgage
foreclosures in 2009 to 2014. and whose bank was characterized by a new york judge as engaging in harsh, repugnant, shocking, and repulsive acts against debtors. donald trump ran a campaign on anti-wall street rhetoric. but appointing a former hedge fund manager, goldman sachs executive, and bank c.e.o. as treasury secretary, shows his true colors. mr. mnuchin is a wall street insider with ties to big banks that have a troubling past of putting profits aheffed consumers and taxpayers. foreclosure me at, of homes on 36,000 families. mr. mnuchin now sits on the board of c.i.t., which bought his former bank. he took a reported $10.9
million payout when the merger was completed. c.i.t.'s regulatory filings indicate that the bank provides mr. mnuchin with annual compensation of $4.5 million for each of 2015, 2016, and 2017 which gives a base salary of $800,000. short-term incentives of $1.4 million, and long-term incentives of $2.3 million. that is 88 times the household income of the average american family. what's worse, c.i.t. is a megabank and instead of paying back taxpayers, it went bankrupt like many of mr. trump's failed businesses. so mnuchin is a man who got rich off the foreclosure crisis and taxpayer bailouts again, not unlike mr. trump himself. and will now have oversight
over significant swaths of our financial regulatory system. h.r. 6392 in particular is president-elect trump's and the congressional g.o.p.'s first effort to deregulate wall street since the election. this bill stands to benefit just 27 banks in the united states, and one of those banks is mr. mnuchin's bank, c.i.t. in fact c.i.t. just recently completed a merger with one west which made mr. mnuchin rich. that merger also pushed c.i.t. over the $50 billion threshold that would make the bank subject to dodd-frank rules rather than submit to more stringent regulations, c.i.t. is trying to grease the skids to get favorable treatment in congress so that their megamerger won't come with any strings attached.
specifically, this bill would eliminate c.i.t. being more stringent on dodd-frank rules related to capital, liquidity, risk management and living wills, stress testing and other crucial requirements that prevent bailouts. what's more, the legislation would take authority to regulate banks away from our independent regulators and hand that power over to this man that i'm telling you all about whose got -- who's got a history, which has foreclosed on a lot of innocent homeowners but maybe i think under the investigation now from h.u.d. and so, again, this legislation would take this authority away to regulate banks away from our independent regulators and hand that power over to him. now be in the ld
driver seat to determine which banks get regulated and how. that means it could give special favors to his bank while ignoring similarly situated banks, not to mention our financial stability. well, you know, my friends on the opposite side of the aisle, you know, will tell us, oh, that bailout that we had to do in order to keep this country from going into a depression, you forced taxpayers to have to make that bailout and to pay for it. well, here we are today with the president-elect who pays no taxes. so why would he be worried about whether or not we have bailout or not? i would say this is one of the worst bills that's going to come before us, but just like mr. hensarling said, we ain't seen nothing yet. i yield back the baffle my time. the speaker pro tempore: the
gentleman from missouri is recognized. mr. luetkemeyer: thank you, madam speaker. just to recap. dodd-frank was -- came into a bang as a result of the crisis. one of the solutions was to be able to find systemically important financial institutions before they brought the economy down. coming up the sifi definition was one way to do that the problem was the sifi designation was too large, being impacted in too many and wrongful ways and even dodd-frank's original author, barney frank, recognized that with his testimony this past week as well as in our committee. the metrics that we have in the bill are very simple. there are things used by financial stability board, office of financial research when they look at global sifis, c.i.t.-west merger that the ranking member is talking out, these are the metrics used. we're trying to take the burden off the mid-sized reeng national banks that have fewer products and services provided
to customers. with that, madam speaker, i yield back. the speaker pro tempore: the gentleman's time has expired. ll time has expired. for what purpose does the gentleman from ohio seek recognition? >> madam speaker, i rise today to offer an amendment that would ensure the integrity of systemic risk improvement snakes agent of 2016. the clerk: amendment number 1 printed in part b of house report 114-839 offered by mr. davidson of ohio. the speaker pro tempore: pursuant to house resolution 934, the gentleman from ohio, mr. davidson, and a member opposed, each will control five minutes. the chair recognizes the gentleman from ohio. mr. davidson: thank you, madam speaker. i yield myself 2 1/2 minutes. today's bill spells out the
to ria, fsoc must use determine institutions of systemic risk. my amendment will prevent the federal reserve and treasury from blindly implementing new regulations proposed by an international entity, whether coming from the basel commission or unelected bureaucrats on the financial stability board. when congress begins to apply international standards, we need to make certain executive agencies don't overreach by simply ratifying every decision made internationally. recently, treasury and the fed have been found to make determinations that mirror the standards issued by the financial stability board without sufficient review. simply rubber stamping them. they have gone along with the decisions made by international unelected bureaucrats and in the process harmed our regional and community banks and americans' access to credit. similar concerns have been raised by u.s. insurance companies.
that's why mr. luetkemeyer is also sponsoring legislation to make sure these one-size-fits-all regulations are not used to supersede our state-based insurance regulations here in the united states. h.r. 6392 will provide the necessary relief and transparency needed in these systemic risk designations. i am proud to offer this amendment to clarify that our federal agencies cannot use the loophole of international recommendations to expand their powers or subject our community and local banks to even more burdensome regulations. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. for what purpose does the gentlelady from california seek recognition? ms. waters: madam chair, i seek recognition to oppose this legislation. the speaker pro tempore: the gentlelady is recognized for five minutes. ms. waters: madam chairwoman, i rise in opposition to this amendment. this bill outsources our domestic regulation by the federal reserve and hands it
over to an international group of regulators known as the financial stability board, or the f.s.b., to determine which banks should be regulated by our regulators. it says this international body should decide which banks are regulated, not the united states congress. the u.s. is just one member nation among many represented on the f.s.b., and the republicans have often criticized this board of regulators for being shadowy and not sufficiently differential to american interests. currently the f.s.b. makes determinations on which global banks are systemically significant, not significant to the u.s., but to the entire global economy. this legislation imports those determinations and sets our domestic regulation on autopilot. if the international regulators say we are important, then this bill would grandfather you into dodd-frank. if not, then you get the big
giveaway of deregulation. this amendment rightfully says that the u.s. shouldn't be giving away our sovereignty over our economy to international regulators, but the amendment fails to have the courage of its convictions. it says nothing in this bill shall broadly apply international regulatory standards to the u.s. with an exception of the part of the bill that applies international regulatory standards to the u.s. in summary, democrats who oppose deregulation of big banks should oppose h.r. 6392, and republicans who oppose outsourcing our regulation to foreign bureaucrats should oppose h.r. 6392. this amendment does nothing to solve this fundamental issue in the bill, and this legislation is still deeply problematic even if the amendment is accepted. i reserve the balance of my time.
the speaker pro tempore: the gentlelady from california reserves. the gentleman from ohio is recognized. mr. davidson: mr. speaker, i yield the balance of my time to mr. luetkemeyer. the speaker pro tempore: the gentleman from missouri is recognized. mr. luetkemeyer: thank you, madam speaker. i want to thank the gentleman from ohio, mr. davidson, for his interest for his authoring this amendment. the amendment makes clear that h.r. 6392 should not be construed to have international standards be imposed on the u.s. a similar framework utilized by the committee and used by the federal reserve and treasury in order to ensure the largest u.s. banks have their sifi designations. it will be highly inappropriate for any international body to impose any standard on an entity. as we advocate today for risk-based supervision, we avoid any sort of blanket approach that's seen out of regulatory bodies. foreign banks doing business in
the u.s., for example, the $50 billion result in a huge number of banks being treated as sifis. despite the fact many of them have under $10 billion in assets. as we consider these designations, we need to avoid one-size-fits-all models and look at things like comparable home country standards before we move forward on enhanced standards. i hope we can address these issues in the next congress and work with international regulators, particularly those in the european union, to have the standoff on bank capital rules. we should inject common sense and financial regulation that will protect u.s. taxpayers and financial systems without constricting economic growth. again, i thank the gentleman for his amendment and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the gentlelady from california is recognized. yield back the balance of my time. the speaker pro tempore: the gentlelady yields back the balance of her time. pursuant to the rule, the previous question is in order
on the bill and on the amendment offered by the gentleman from ohio, mr. davidson. the question is on the amendment by the gentleman from ohio, mr. davidson. those in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. he amendment is agreed to. the question is on engrossment and third reading of the bill. hose in favor say aye. those opposed, no. the ayes have it. third reading. the clerk: a bill to amend dodd-frank wall street reform and consumer protection act to specify when bank holding companies may be subject to certain enhanced supervision and for other purposes. for eaker pro tempore: what purpose does the gentlewoman from california seek recognition? ms. waters: i have a motion to recommit at the desk.
the speaker pro tempore: is gentlewoman opposed to the bill? ms. waters: i oppose in its current form. i ask unanimous consent to dispense with the reading. the speaker pro tempore: is there objection to dispensing with the reading? mr. luetkemeyer: i object. the speaker pro tempore: the clerk will read. the clerk: ms. waters of california moves to recommit the bill h.r. 6392 to the committee on financial services with instructions to report the same back to the house forthwith with the following amendment. page 4, line 17, strike quotation mark and following semicolon and insert the following -- four. certain companies with enforcement actions by operation of law. notwithstanding any other provision of this subsection, a bank holding company shall be deemed to have been the subject of a final determination under paragraph 1 if the bank holding company as of the date of
enactment of this subsection. a, has total consolidated assets equal to or greater than $50 billion and, b, has disclosed in a filing with the commission that a department or agency of the united states government has a pending lawsuit or enforcement action against the bank holding company related to the origination, securitization or sale of residential ortgage-backed securities. mr. luetkemeyer: i reserve a point of order. the speaker pro tempore: a point of order is reserved. pursuant to the rule, the gentlewoman from california is recognized for five minutes in support of her motion. the gentlelady is recognized. ms. waters: thank you very much. madam chairwoman and members, this is the final amendment to the bill which will not kill the bill or send it back to committee. if adopted, the bill will immediately proceed to final passage as amended.
madam speaker, ladies and gentlemen, make no mistake. this bill is the opening salvo in the trump plan to dismantle dodd-frank. the house republicans have been trying for six years ever since we passed wall street reform and on the eve of president-elect taking office, this is their big chance to deregulate 27 of the nation's largest banks. this bill would strip rules around capital, liquidity, stress testing and living wills, key components to guard against catastrophic bank failures. these are not community banks, no. and $4 e 50, 100, 200 billion banks, banks that engage in exotics like pick a payment, which you choose how
much you want to pay and the loan principal goes up, not down, leading up to the financial crisis. this bill would strip fed chair janet yellen of the fed's independent authority and hand it over to trump's wall street treasury secretary, a man who foreclosed on 36,000 families when he ran this bank, a man who's been accused of redlining and fair lending discrimination, by civil rights and advocacy groups. a man that would be handed the authority to deregulate the bank on whose board he now serves if this bill became law, but those conflicts of interests are par for the course in this incoming administration. . president elect donald trump has more conflicts of interest than any incoming president in
the history of this contry. trump's son-in-law and close advisor, has hundreds of millions of dollars in loans outstanding from domestic and foreign banks and has obtained development financing through a controversial u.s. program that sells green cards. legal scholars believe trump's lease with the government over the old post office building, where his hotel in washington, d.c., stands will trigger a breach of contract and a conflict of interest the moment he is sworn in. and trump may even violate the constitution on the day he takes office with former president bush's ethics lawyers aying that former foreign -- former diplomats staying in his hotel would be an unlawful foreign gift. mr. speaker, this amendment highlights yet another conflict of interest we're facing.
president-elect trump is deeply in debt to deutsche bank. over the past two decades, deutsche bank has been a lender or a co-lender in at least $2.5 billion in loans to donald trump or his companies. here's a sampling of trump's indebtedness to deutschy, the usiness within trump's network currently owe the bank nearly $360 million in outstanding principal, including $125 million for his florida golf course, up to $69 million for his chicago high rise, and $170 million line of credit used to fund the development of his new hotel in washington, d.c. this legislation, h.r. 6392, deregulates huge megabanks representing almost 30% of the
assets currently subject to stricter rules under dodd-frank. in the bill it is possible that the u.s. operations of global megabanks, megabanks like deutsche bank, would also be deregulated and with donald trump's appointments interpreting the law, i suspect they will indeed deregulate these global megabanks. why is this important? well, it's important because deutsche bank has the potential $14 billion settlement with the department of justice pending related to toxic mortgages they packaged and sold leading up to the financial crisis. they sliced and diced the prime loans and duped not only homeowners but unsuspecting investors just like president-elect trump, they saw the specter of a foreclosure crisis and financial collapse as a business opportunity not a
human tradgedy. after trump's election, news headlines said that deutsche bank stood to get a windfall because the new sheriffs in town would go easy on them. the speaker pro tempore: the gentleman's time has expired. ms. waters: enough is enough. while the trump justice department may give deutsche bank a bank -- the speaker pro tempore: the gentlelady's time has expired. ms. waters: trump's conflict of interest grease the skids for power interests in washington. the speaker pro tempore: the gentlelady's time has expired. for what purpose does the gentleman from missouri seek recognition? mr. luetkemeyer: madam speaker, i withdraw my point of order. the speaker pro tempore: the reservation is withdrawn. mr. luetkemeyer: i claim the time in opposition. the speaker pro tempore: the gentleman is recognized. mr. luetkemeyer: thank you, madam speaker. just to highlight some comments here with regards to the ranking member's last discussion on this point of order, we believe the motion to recommit has absolutely nothing
to do with financial stability. title 1 of the bill deals with operational standards of bank holding companies. this bill that we're working with deals directly with how regulators deal with banks. pending lawsuit has nothing to do financial stability of this bank. this may belong somewhere else in the dodd-frank bill but not here. with regards to the underlying bill as well, madam speaker, to reiterate some of the points that have been discussed already, we have a situation where the fix for the crisis of 2008 was dodd-frank, as was spoken to eloquently by some of my colleagues, and some of the fixes, as any bill we put together around here, is never perfect. there is always problems with t always needs to be tweaked down the road. this particular issue we're talking about today, systemically important designation of institutions, part of a solution to try to be
able to identify banks by definition that would bring down the entire economy. this can never happen again. we have a big bank go down. it could be such a size and magnitude and connectedness it would bring down the entire economy. when unan untended consequence of -- an unintended consequence is it will roll downhill. and barney frank, the author of the bill, has made sade in our committee he testified to that fact this is an unintended consequence, it should be fixed. all it does is fix that problem that these unintended consequences of these rules and regulations would carry cost with them are rolling downhill to the midsize regional banks and rolling below that. below 50. you talk to $10 billion to $50 billion banks, all the things the higher banks are dealing with they are dealing with. these regulations -- that are supposed to be for the big banks, whatever, are rolling all wait downhill to the small banks. they'll argue about the fact
that $50 billion an arbitrary figure. something we need to keep. that's a big bank. sorry. madam speaker, i was a regulator in my former life. i was a banker in a former life. can i tell you that's a big bank but not somebody that will bring down the economy. unless they are interconnected, which the metrics in mudville say if they are interconnected they have all sorts of other risky actions that they are engaged in. $50 billion is not going to do t things you have to look at are size and these other cry tearas. they are not pulled out of the air. these are criteria that the federal stability board uses, the office of financial research use when is they look at g-sibs, global sifis. these are analysis tools that are there, have been for a long ty. why not give the examiners, the regulators, these tools? i can tell you as a regulator they already do this. a point was made it takes 12 months on the bill to come up with these designations. the regulators already do this. they have the information in
hand. there's no reason that they can't do this in a 12-month period. i have been there. done that. it's easy to do. they have the information. what we're doing is take existing criteria and asking them to look at the risk and the business model of this particular entity to see if it is something big enough and connected enough to go down. $50 billion is not someplace where banks should be it's going to cause the entire economy to collapse. no way. commonsense -- common sense will tell you that. i think to close out here very quickly, i think that we have a situation where these regulations are costing money to the consumers, to the businesses that the banks lend to. one quick factoid is 75% of the banks before dodd-frank had free checking. now only 37. those are just. so facts as they roll downhill that show that these regulations are hitting having a initiative effect on our -- having a negative effect on our economy. the banks we're talking about
are not the interconnected global folks. these are large community banks that serve communities. mom and pop shops. we want to keep them in business. keep our communities growing. and with that, madam speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. without objection, the previous question is ordered on the motion to recommit. the question sont motion. so many as are in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. ms. waters: i request the yeas and nays. the speaker pro tempore: the yeas and nays are requested. those favoring a vote by the yeas and nays will rise. a sufficient number having arisen, the yaint. -- yeas and nays are ordered. pursuant to clause 8 of rule 20, and the order of the house of today, further proceedings on this question will be postponed.
the speaker pro tempore: for what purpose does the gentleman from mississippi seek recognition? >> madam speaker, i ask unanimous consent that the question of adopting a motion to recommit on h.res. 933 may be subject to postponement as though under clause 8 of rule 20. the speaker pro tempore: without objection, so ordered. for what purpose does the gentleman from mississippi seek recognition? >> madam speaker, at the direction of the committee on house administration, i call up house resolution 933 and ask for its immediate consideration.
the speaker pro tempore: the clerk will report the resolution. the clerk: house calendar number 158, house resolution 933. resolution providing for further expenses of the committee on energy and ommerce in the 114th congress. resolved section 1, amount for committee expenses, for further expenses of the committee on energy and commerce, hereafter in this resolution referred to as the committee for the 114th congress, there shall be paid out of the applicable amounts of the house of representatives not more than $800,000. section 2, vouchers. payments under this resolution shall be made on vouchers authorized by the committee. signed by the chairman of the committee, and approved in the manner directed by the committee on house administration. section 3, regulations, amounts made available under this resolution shall be expended in accordance with regulations prescribed by the committee on house administration.
the speaker pro tempore: the gentleman from mississippi is recognized. for one hour. >> madam speaker, for purposes of debate only i yield the customary 30 minutes to the gentleman from pennsylvania, mr. brady, pending which i yield myself such time as i may consume. during consideration of this resolution, all time yielded is for the purpose of debate only. the speaker pro tempore: the gentleman is recognized. >> madam speaker, i ask unanimous consent that all members may have five legislative days to revise and tend their remarks and include extraneous material in the record on the consideration of house resolution 933, currently under consideration. the speaker pro tempore: without objection. >> thank you, madam speaker. i rise in support of h.res. 933, a resolution that authorizes additional funds for the committee on energy and commerce's budget for the remader of the 114th congress. mr. harper: last year on october 7, the house passed by
a majority vote a measure creating the select investigative panel on infant lives within the committee on energy and commerce. our committee has responsibility to ensure that each committee of the house has sufficient resources to fulfill their assigned oversight duties. last year our committee transferred funds from the committee reserve account to the energy and commerce committee so that the panel could begin its work. an additional transfer was made earlier this year. these funds were allocated based on the full committee's need to fulfill its mission. these initial transfers were insufficient to cover the costs associated with the select panel. the measure before us on the house floor today will rectify the situation and allow the committee on energy and commerce and the select investigative panel to continue to operate until the end of congress. passing this measure to provide additional funds is an
institutional responsibility. if we do not allocate these additional funds, the work of the entire committee on energy and commerce, both for the majority and minority, would grind to a halt. the committee would be unable to complete its vital work. this work covers important areas such as electronic communications, environmental protection, and health care. we saw -- there are differences of opinion on the select investigative panel. however, we're not here to relit gait a decision of the house made more than a year ago but to fulfill our constitutional responsibilities. it is my hope that we will swiftly pass this measure today. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. and the gentleman from pennsylvania is recognized. >> thank you, madam speaker. madam speaker, i yield myself such time as i may consume. i rise in opposition to this resolution and in opposition to the existence of the panel generally. it has been nothing more than a
witch-hunt that will cost taxpayers more than $1 million and has found no wrongdoing. three house committees and 13 states launched their own similar investigations and came to the same conclusion, the panel has been a one-sided operation from the start. mr. brady: withholding records and documents. panel's act has put at risk the lives of researchers who are working to find cures for the most debilitating and deadly diseases. madam chair, i yield 26 minutes to the gentlelady from illinois, ms. schakowsky, and ask unanimous consent that she be permitted to control that time. the speaker pro tempore: without objection, so ordered. mr. brady: thank you.
the speaker pro tempore: the gentleman from mississippi is recognized. mr. harper: i yield three minutes to the chair of the select and investigative panel, the gentlelady from tennessee, mrs. blackburn. the speaker pro tempore: the gentlelady is recognized for three minutes. mrs. blackburn: thank you, madam chairman. the select investigative panel was formed to investigate areas that prior to the revelations of undercovered journalists received too little attention. for most of us, it is nothing short of an outrage that planned parenthood and other abortion clinics supplement their budgets by selling the leftover parts of babies they have aborted. is chamber charged the panel with investigating fetal tissue trafficking, second and third trimuster abortion practices, the standard of -- trimester abortion practices, the role our taxpayer dollars play in
this sector of society. over the last year we have held hearings that explored the bioethics surrounding fetal tissue use and revealing the sober reality of how fetal tissue is priced. our investigation revealed four models by which the subject of our investigation implicate serious public policy concerns. the first, the middle man model comprises a middle man and tissue procurer that obtains tissue directly from the source such as an abortion clinic or hospital and then transfers the tissue to a customer, usually a university researcher. the example of it illustrates, it would embed a lab technician inside an abortion clinic where the technician would receive the day's orders for body parts at specified gestation periods, access patient files in violation of women's hipaa
privacy rights and collect the tissue. then, the technician would receive pay and even bonuses based on the tissues she secured. a second model, the university clinic model reveals the cozy relationship between abortion clinics and research institutions. most of them, state universities funded by the taxpayers. the clinic provides the universities the tishude used for research. the university adopts the clinic doctors as faculty members, giving them benefits regardless of whether they actually teach and in many cases, thanks to programs like the ryan fellowship, medical students are deployed to abortion clinics to be trained as the next generation of abortion providers. the panel's investigation into a third model, the late-term abortion clinic revealed the appalling absence of mechanisms or procedures to safeguard
those infants who survive the abortion procedure. put bluntly, even though we have the born-alive infants protection act, the prohibition of partial birth abortion on the books, they are not enforced. fourth, the panel investigated the model by which federal tax dollars make their way to abortion clinics. typically by medicaid payments under title 19 and fetal tissue researchers to provide just a snapshot of the 51 known external audits of planned parenthood clinics, nearly all -- the speaker pro tempore: the gentleman from mississippi. mr. harper: i yield one additional minute to the gentlelady from tennessee. the speaker pro tempore: the gentlelady from tennessee is recognized. mrs. blackburn: thank you, madam chairman. to provide just a snapshot of the 51 known external audits of planned parenthood clinics, nearly all found title 19 overpayments for family planning and reproductive health service claims.
the overbilling totaled more than $8.5 million, and that is without counting several false claims act lawsuits that allege millions more in overbilling. consider all that our panel has identified despite having just barely a year, even less by the time we were fully staffed, to conduct the investigation. it is now up to us to build on the work, to hold the government accountable, and to stop these affronts to human dignity. i yield back. the speaker pro tempore: the gentlelady yields back. the gentleman from mississippi reserves. and the gentlewoman from illinois is recognized. ms. schakowsky: i thank the gentleman from pennsylvania for yielding the time to me, and i yield myself such time as i may consume. the speaker pro tempore: the gentlelady is recognized. ms. schakowsky: madam speaker, i rise in opposition to this legislation to fund the select investigative panel, the panel that we call the select panel to attack women's health.
and it really shouldn't come to any surprise that one of the very first things that republicans have done coming back now to washington is to approve additional funding for the select so-called investigative panel, doubling its budget and putting it on track to spend nearly $1.6 million taxpayer dollars by the end of this year. this investigation is essentially builds on a pack of lies that are perpetrated by anti-abortion extremists and it has never been and has no chance of becoming a fact-based investigation. the panel republican have continually relied, even today, on doctored videotape -- the videotape, so-called evidence, even though that evidence and those videotapes have been discredited already by three house committees, 13 states and a texas grand jury.
throughout this investigation, republicans have abused congressional authority, issuing 42 unilateral subpoenas in violation of house rules, demanding that clinics and universities name names of their doctors, students and staff and releasing some of these names knowing that doing so puts lives in danger, a uly mccarthy-esque attack on individuals. they have compared researchers to nazi war criminals and echoed the words of anti-abortion activists that were also used by a gun man who shot 12 people, killing threatt a planned parenthood clinic in colorado springs. despite republicans' failure to find any evidence of wrongdoing , they continue to make inflammatory, grotesque allegations to justify the panel's existence and by their words and actions have put
lifesaving research and women's health care at risk. the panel has already had a chilling effect on research, drying up the supply of needed tissue for research on multiple sclerosis and threatening research on everything from a to z, from alzheimer's to zika. it had broad bipartisan support. it is the basis for key vaccines that have saved literally millions and millions of lives, including the polio vaccine. that is why over 60 of our nation's leading medical institutions released an open letter in support of scientific research using fetal tissue. we cannot afford to let a set of reckless and irresponsible claims stop this vital medical research. this panel and its investigation are a disgrace to this house of representatives. we need to end this dangerous and unjustified witch-hunt and
instead of providing more funding for this divisive and dangerous inquisition, congress should shut down this panel and put an end to its shameful proceedings. and i reserve the balance of my time. the speaker pro tempore: the gentlelady from illinois reserves, and the gentleman from mississippi is recognized. mr. harper: i yield three minutes to the gentleman from pennsylvania, mr. pitts. the speaker pro tempore: the gentleman is recognized for three minutes. mr. pitts: i thank the gentleman. as a member of the select investigative panel, i rise in support of h.res. 933. after the release of the undercover videos of planned parenthood, one little known tissue procurement company became a household name, stem express. they're one of the biggest players in the sale of aborted baby body parts in the united states, in clear violation of the intent of federal law.
they promise profits to abortion clinics in return for otherwise discarded -- and i'll use their quote -- products of conception, end quote. the select panel learned that in order to make as much tissue available for sale as possible and thus rake in huge profits, stem express sought to contract with the national abortion federation. contracting with this network of abortion clinics would mean access to thousands of baby body parts, which stem express could procure and then turn around and sell at huge markups. and our investigation found that they had created a dropdown menu. here's a copy of part of it on their website. uch as one might find on amazon.com. to facilitate their sales. they could select the
gestational age, the number of specimens. for example, you could select three 12-week old baby scalps. 12 14 pair of baby eyes or seven 16-week baby livers, just to name a few of the baby combinations. for crying out loud this is the amazon.com of baby body parts. it's outrageous. it's disgusting. it's a very disturbing practice that has been tucked away and out of sight for too long. the c.e.o. of stem express told one undercover journalist over lunch and a class of wine that some of the buyers' lab text, quote, freak out and have meltdowns, end quote, when they see little baby hands, little baby feet attached to the order and order of limbs so she makes sher her teches cut off the hands and the feet before shipping off boxes of these body parts. it is this calous, dark talk
that has so many americans concerned with the state of research in our country. the select panel is proud to support lifesaving ethical research, but like the rest of america, my colleagues and i know that ethical boundaries do exist. and i hope stem express research will cease to come at the expense of unborn children who have had no say in the so-called donation of their body parts. many years from now we'll look back on this practice as a dark and horrible time where humanity and human dignity lost to financial profits. we must end this horrific practice. i urge support for this resolution. mr. harper: i reserve the balance of my time. the speaker pro tempore: the gentleman reserves and the gentlewoman from illinois is recognized. ms. schakowsky: i would now like to yield two minutes to the distinguished member on our team of the select panel and that is congressman nadler from new york. the speaker pro tempore: the
gentleman is recognized for two minutes. mr. nadler: i thank the gentlelady for yielding. from start to finish, this select panel has abused congressional power in order to intimidate and threaten private people and entities engaged in legal businesses. republicans on the select panel have now spent $1.5 million in the so-called investigation. what do they have to show the american people for spending their hard-earned tax dollars? they have not presented any evidence that any entity broke the law surrounding fetal tissue donation or research. they have not presented any evidence that any entity or physician engaged in the horrifying behavior of which republicans accuse them. we have heard today on this floor as we have repeatedly from the select panel the lies that planned parenthood sold fetal tissue for profit. we have heard the lie that clearly doctored and disproven videotapes were some reality -- were some relationship to reality. we have heard the disproved lie that stem express procured
fetal tissue, fought for lifesaving medical research, but for profit. the republicans have wasted countless hours and millions of dollars running in circles after evidence that does not exist. they have insisted that entities name names with no plan to protect those individuals and when asked why ey need names they don't say anything. they knew exposing their names would have harassment, threats and even murder. the republicans on the panel have made accusations of wrongdoing with no concern for the consequences. they have had a chilling effect on lifesaving medical research through their intimidation tactics. they have flown in the face of congressional rules and abused congressional power to meet their blatantly partisan needs. and now the republicans on the select panel have the audacity to ask for more taxpayer moneys to find this witch-hunt. in words one suggests the last member of congress that so
clearly violates authority, senator joseph mccarthy, i say, ve you at long last no decency? . this grotesque and murderous panel should have been shut down a long timing too. vote against the previous question, vote against this absurd funding bill and stand up for the american taxpayer and for the dignity of this institution. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the gentlelady reserves and the gentleman from mississippi is recognized. . >> i yield three minutes to the gentlelady from tennessee, mrs. black. the speaker pro tempore: jeament is recognized for three minutes. mrs. black: thank you, madam speaker. one of the striking discoveries whoa we have made in this skegs has been the sheer number of laws implicated by troubling actions of abortion providers, tissue procurement businesses and researchers. one such law is the hipaa privacy rule. the panel's investigation uncovered a series of business
contracts between stem express, which is a tissue procurement business that is not covered by hipaa, and several abortion clinics that are. stem express pays fees to the abortion clinic for fetal tissue and maternal blood and then resold the fetal tissue and the blood to researchers. here's a quick hipaa privacy tutorial. the hipaa privacy rule protects all individually identifiable health information known as protected health information or p.h.i. that is held or transmitted by a covered entity. this information identifies an individual or can reasonably be believed to be useful in identifying an individual such as a name or an address and includes demographic data related to her physical or mental health condition, treatment and payment. the panel's investigation
indicates that stem express and four abortion clinics, including three planned parenthood locations, committed systemic violations of the hipaa privacy rule over a course of about five years. the abortion clinics provided patients' private, protected health information to stem express to help them obtain human fetal tissue for resale. how did they do this? well, the abortion clinics permitted the employees of stem express to enter their clinics to obtain human fetal tissue from the aborted infants, obtain protected health information about their patients, and interact with the patients and, yes, even seek and obtain patient consent for the tissue donation. stem express did not have a medically valid reason to see and the abortion clinics did not have a reason to disclose the
patients' private information. instead the abortion clinics intentionally shared parents' most intimate -- patients' most intimate, private information with stem express to financially benefit stem express and the clinic. the panel has made a referral of each of these entities to the department of health and human services and has requested a swift and full investigation by h.h.s. office of civil rights. more importantly we have discovered a deeply concerning violation of a law that protects the most cherished private right. i yield back the balance of my time. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentleman from mississippi reserves. the gentlewoman from illinois is recognized. ms. schakowsky: i finds it so hypocritical that the majority is talking about putting people's private names out into the public when we've had people who have been attacked and lives
threatened as a result of their putting names out. at this point i would like to yield two minutes to another distinguished member of our select panel, ms. dell bennie from washington state -- ms. delbene from washington state. the speaker pro tempore: the gentlelady is recognized for two minutes. ms. delbene: thank you. madam speaker, i rise in strong opposition. this resolution provides an additional $800,000 in taxpayer money to a select investigative panel that should never have been created in the first place. as a member of that panel, i i can tell you it's been -- i can tell you it's been nothing more than a bully pup its for the majority -- pup its for the majority to spread falsehoods. this so-called investigation has repeatedly shown contempt for the facts and disdain for the truth. instead of carrying out a fair and evidence-based process, the panel has spent the last year publicly targeting women's health care providers, bullying scientists and medical students, delaying medical research and
trying to cut off lines of scientific inquiry. all because the majority opposes a woman's constitutional right to choose. now we're voting to double the panel's budget, it'sry dick lowls. no one in this chamber should be condole -- ridiculous -- it's ridiculous. no one in this chamber should condone this. this has been a brazingly partisan and ideological witch hunt and it should have been shut down months ago. rather than wasting another $800,000 on this dangerous panel, congress could use that ney to provide more than 270,000 school lunches to low-income students, or purchase nearly 12,000 textbooks to make higher education more affordable for college students, or purchase more than three million diapers to help new mothers care for their babies. but instead that money will go towards intimidating doctors, harassing researchers, and delaying the progress of science. it's shameful.
we shouldn't throw good money after bad by passing this resolution. i urge my colleagues to vote no and i yield back. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentlewoman from illinois reserves. the gentleman from mississippi is recognized. >> i yield three minutes to the gentleman from indiana, mr. bucshon, who is a medical doctor. the speaker pro tempore: the gentleman is recognized for three minutes. mr. buchanan: -- mr. buck: mr. speaker, this is about human live -- new hampshire mr. bucshon: mr. speaker, this is about science and research. from the beginning, we recognized the other side would try to divert attention from our investigation by falsely claiming we are opposed to science. as a doctor, i find that offensive. i think it's a dangerous practice to introduce fear into important scientific debates. every member of the panel is committed to medical research that finds cures. the et rick that we are opposed -- the rhetoric that we are opposed to research is ridiculous and wrong.
the united states of america is a global leader in scientific research. we should all be proud of the research enterprise in our country and support it with tax dollars. the house panel republicans on infant lives share this support. we are strongly committed to promoting both basic and clinical research. the goal of the house select panel is not to oppose science but rather to determine how best to support science so that it is -- its important work can advance as rapidly as possible without ethical compromise. as the history of biomedical research in the 20th century clearly demonstrates when scientific research is separated from ethics or the law, grave injustices can occur. we here in congress, like the rest of americans, care deeply about protecting the rights of patients and ensuring ethical oversight of research procedures. these are not meant to hinder advances in science. but rather to ensure that the scientific enterprise fulfills its promise to -- promise to
society. though the panel -- through the panel's investigation we have discovered inaccuracies about the role of human fetal tissue and have sought to correct them to realistically address the obstacles facing research. any argument from the 1950's or even the 1990's for that matter about biomedical research is outdated. and the actual record is clear. human fetal tissue did not directly result in a vaccine for diseases like measles. similarly, the nobel prize was not awarded for curing polio using human fetal tissue. in fact, with the 75 vaccines in use today, not one was produced about fetal tissue -- with fetal tissue. the n.i.h. has not funded fetal tissue transplant grants for nearly 10 years. that should tell us something. we examined 30 major grants that were funded by the n.i.h. over the last five years, and found that human fetal tissue research represents only a tiny fraction of the overall scientific
interprice. in fact, only .2% used human fetal tissue. hysterical calls for enhanced fetal tissue research through expanded abortions license are a matter of politics, not medicine or science. a small subset of n.i.h.-funded grants uses fetal tissue to study things like birth defects. these types of grants represent only one in 100,000. tissue or cells for these studies could be derived from another source than aborted babies. the speaker pro tempore: the gentleman's time has expired. the gentleman from mississippi is recognized. >> i yield one additional minute to mr. bucshon. the speaker pro tempore: the gentleman is recognized. mr. bucshon: tissue or cells from these studies could be derived from another source other than aborted babies, like premature natural demised infants whose parents are willing to donate. the other grants use fetal tissue when alternatives are easily available, like pla senta or cord blood or modified adult
stem cell. om grants even study adult macular degeneration. research on that should be conducted using adult donor eyes but these grants are instead using fetal eyes from aborted infants. nows behalf of -- because of science, but -- not because of science but because of convenience. i know these things can be uncomfortable to discuss but that's why the other side wants to avoid the facts and that's this debate is so important. it's about conducting medical research in an ethical and just manner. so let's sit down and talk science with the n.i.h. and others so that research works for everyone in an ethical and moral way. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from mississippi reserves. >> may i inquire as to how much time is remaining. the speaker pro tempore: the gentleman from mississippi has 14 minutes. and the gentlewoman from illinois has 21 1/2 minutes. >> reserve. the speaker pro tempore: the gentleman from mississippi reserves.
the gentlelady from illinois is recognized. ms. schakowsky: now i'd like to invite another distinguished member of our panel. the speaker pro tempore: the gentlelady is recognized. for how much time? ms. schakowsky: for two minutes. the speaker pro tempore: the gentlelady is recognized for two minutes. mrs. watson coleman: thank you. i'm disappointed that we're here today asking the american taxpayers to waste another $800,000 on an unnecessary, dangerous inquisition. this select panel was formed based on fraudulent videos created by anti-abortion extremists to attack planned parenthood. an organization that has always fought for women's rights and provides health care services to three million women and men each year. i was proud to be the first member of congress to speak out against these videos immediately after their release. and here we are a year and a half later with no evidence of wrongdoing, after 17 separate
investigations in three house committees, 13 states and one grand jury. yet republicans continue to chase false, inflammatory allegations at a severe cost to advances in medicine. and to the safety of those involved in this life-saving research. panel republicans have conducted themselves in ways reminiscent of joe mccarthy's abusive tactics. witnesses have been harassed and intimidated during testimony, names of researchers, students, clinical personnel and doctors have been released publicly, placing their lives in great danger. misleading exhibits have been manufactured, critical documents have been with held from democrats, and republicans have continued to fan the flames of anti-abortion extremism with their inflammatory rhetoric. let us not forget the horrible tragedy that occurred in colorado planned parenthood clinic where a gunman shot 12
people and killed three, echoing the same anti-abortion rhetoric used by republicans to this day. what this investigation truly is is an attack on women's rights and women's access to legal health services. the select panel comes at a time when republicans have repeatedly voted to defund planned parenthood, eliminate family planning services and restrict access to abortions. this investigation, this honors this institution and hurts the american people that congress is elected to serve. let's put an end to the witch hunt, stop wasting taxpayer dollars and reject this resolution. i yield back. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentlewoman from illinois reserves. the gentleman from mississippi is recognized. >> i yield three minutes to the gentlelady from missouri, mrs. hartzler. the speaker pro tempore: the gentlelady is recognized for three minutes. mrs. hartzler: thank you. the select investigative panel on infant lives investigation has uncovered many valid
concerns and potential law violations that are disturbing, horrific and unacceptable. in the course of our investigation, we discovered a hardness, a callousness and a track record for deceptive tactics that some abortion clinics and fetal tissue procurers exercise toward vulnerable women. it is difficult to imagine a more vulnerable time in a woman's life than when she is considering an abortion. what if during that time the woman is lied to and told that by having an abortion she will fulfill -- facilitate research that will cure tragic diseases? this is exactly the type of concern that our panel addressed during our hearing on bioethics and fetal tissue. during that hearing i shared a consent form widely used by abortion clinics to obtain a mother's consent to donate fetal tissue and the forms stated that research using the blood from pregnant women and tissue that's been aborted has been used to treat and find a cure for such
diseases as diabetes, parkinson's disease, alzheimer's disease, cancer and aids. this is clearly false. . the expert agreed and said the idea that cures were found is a powerful motivator and the standards for fetal tissue are absent and saying the thoroughness of the consent seems to be missing and a researcher for the minority testified during the hearing, he also agreed saying the form would not have made past his institutional review board but these are being used. the testimony provided by both the witnesses by the majority and minority raised concerns that the principles embodied in ethics reports and incorporated in federal regulations are not being followed seeking consent
for the donation of human fetal tissue. we must raise this awareness and make sure people know and make sure women are protected. i yield back. the speaker pro tempore: the gentlelady yields back. mr. harper: reserve. the speaker pro tempore: the gentlewoman from illinois is recognized. ms. schakowsky: i yield two minutes to not only someone who has been a stalwart for women's rights but the co-chair of the o--choice caucus, ms. did he get of colorado. ms. degette: i ask unanimous consent to revise and extend my remarks. the speaker pro tempore: without objection. ms. degette: this was to nvestigate the sale of illegal fetal tissue. that didn't turn out. now they are going after fetal tissue research itself something that has been used and in an
ethical way since the 1930's and to find most vaccines and other diseases in this country, something which a panel appointed by president reagan found unanimously in 1980 to be ethical. what the heck are we being asked to spend another $800,000 on? the total funding for this witch hunt and reckless endeavor is $1.5 million. we have gone after women and punished them and gone after medical professionals and put their lives at risk, like what happened in my neighborhood of colorado springs, colorado. we have put doctors and researchers on the line and we have had a chilling effect on important biomedical research. i say enough is enough. we need to disband this select committee. we need to continue to make sure
that we have ethical medical research in this country, because a frankly that will lead to the cures that affect diseases that affect millions of americans. i yield back. the speaker pro tempore: the gentlelady yields back. the gentlewoman from illinois reserves. and the gentleman from mississippi is recognized. mr. harper: i yield three minutes to the gentleman from maryland, mr. harris, who is also a medical doctor. the speaker pro tempore: the gentleman is recognized. mr. harris: the gentlelady talked about the need of ethical medical research. one of our hearings undermined the ethics of scientific research. they need to obtain informed consent from each person. the basic element of informed consent is an explanation for the purposes of the research for obtained. e is being
stem express did not follow that requirement. h.h.s. regulations that obtaining consent minimize the possible bill of coercion or undue influence. stem express documents showed that its employees were promising to deliver baby body parts even before the abortions were performed. that raises serious concerns that there may have been coercion or undue influence on women to donate body parts. second federal regulations require that all research that involves human subjects needs approval from an institutional review board. i had to file i.r.b. applications and receive approval from my university's i.r.b. the stem express received approval from a company called biomed i.r.b. a california firm that is an
online mail order i.r.b. that the federal government actually barred for two bars because they violated f.d.a. rules. the f.d.a. gave the panel its file on biomed i.r.b. that file was more than a foot high. h.h.s. regulations require i.r.b.'s to maintain adequate documentation of their activities including copies of all research proposals resued, records of continuing review activities and copies of all correspondence, all correspondence between the i.r.b. and the investigators. stem express' founder. the panel was subpoenaed for all documents related to its requirements. the executive director informed the panel that in regard to those records, quote, there are none. in other words, biomed violated
federal regulations on i.r.b.'s. but the head went further, he told the panel to just bring on a contempt proceeding. that's the i.r.b. stem express used. that says a lot about their motives and a lot about the accomplishments of the select panel. none of these shameful practices would have been discovered. as a physician and researcher, i know if i used the same shady tactics, at best my research reputation would be at risk and at worst, i would be facing prison. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from mississippi reserves. and the gentlelady from illinois is recognized. ms. schakowsky: i offer one minute to the congresswoman from connecticut. the speaker pro tempore: the gentlelady is recognized for one minute. et cetera et cetera i rise in op -- etet i rise in opposition to this bill that would waste
800,000 on the partisan witch hunt against planned parenthood. i learned from a young age the value of making quality reproductive health care available to everyone. in the rural town i grew up, too many young women didn't have access to family planning services. too many got pregnant, dropped out of school and never pursued their dreams. that is why in college i volunteered with planned parenthood to ensure legal access to the full range of safe family planning services for all women. instead of funding a sham investigation, $800,000 could und breast exams, pap smears and ovarian cancer screenings. i stand with women and men to speak out against a baseless investigation, which has shamefully wasted tax dollars to attack the very people who most need our help.
i yield back. the speaker pro tempore: the gentlelady yields back. the gentlewoman from illinois reserves and the gentleman from mississippi is recognized. mr. harper: i yield three minutes to the gentlelady from utah. mrs. love: my colleagues on the other side have said that the three house committee investigation related to the sale of fetal tissues have produced nothing. others have said that the state attorneys general have also looked into the matter and found nothing and complain this is a waste of time and waste of money. first of all, there is so much we don't know and the american people don't understand about this industry. however since the panel's investigation, we have uncovered alarming revelations about the fetal tissue industry and because of this there have been criminal and regulatory referrals and resulted in numerous investigations around the nation and i will highlight eight of these. first the panel discovered that
the university of new mexico was violating their state anatomical gift act by receiving tissue from late term abortion clinics. the panel made an analysis of stem express' limited production and determined they were profitting from the sale of baby body parts. the district attorney and united states department of justice are investigating that. third, the panel learned that stem express and certain abortion clinics were violating hipaa privacy rights for the sole purpose of increasing and harvesting fetal tissue to make money. fourth, the panel discovered that an abortion clinic in arkansas violated state law when it sent tissue to stem express. this, too, is under investigation. fifth, the panel discovered that a university in ohio was trafficking in baby body parts. six, it was covered that another
tissue procurement company was profitting from the sale of fetal tissue and violated california state law. this case has been filed. seventh, the panel learned that planned parenthood of gulf coast violated texas and u.s. law when it sold baby body parts to the university of tech as. eight, advanced bioscience resource made a profit when it sold tissue to various universities. as elected representatives we are tasked with oversight of our government that enforces our laws. these eight referrals are proof of potential criminal activity in the fetal tissue industry and justify the existence of the panel and the investigation. the work of the select panel is not over. and more referrals are to come -- more referrals will come and we need to complete this process. continued funding for a panel's unfinished work is needed.
i urge my colleagues to fulfill the obligations that we have to the american people and rule of law. i yield back. the speaker pro tempore: the gentlelady yields back. the gentleman from louisiana. ms. schakowsky: bogus referrals do not a conviction make and they have offered to come in and answer all the questions. and they were denied that. i yield a minute to the gentlelady from massachusetts, clark.swoman ms. clark: republicans are asking us to spend million and a half dollars to conduct a radical dangerous inquestion situation that targets and intim dates private citizens to satisfy their obsession with rolling back women's reproductive rights and access to basic health care.
this overreaching panel recklessly has demanded names and interferes of the lives of law-abiding students scientists and researchers whose private lives and jobs have been turned upside down. and what do we have to show for this display of government abuse? absolutely nothing. in fact, it's worse than nothing. today, they are invoking institutional responsibility to ask the taxpayers to foot a bill r $800,000 of their own cost overruns. this could have been used to help families, feed the hungry, help our veterans and military families and go towards education. i urge my colleagues to reject this dangerous abuse of power and taxpayer funding. the speaker pro tempore: the gentlelady yields back. the gentlewoman from illinois reserves. the gentleman from mississippi
is recognized. mr. harper: i yield three minutes to the gentleman from wisconsin, mr. duffy. the speaker pro tempore: the gentleman is recognized. mr. duffy: i thank the gentleman from mississippi for yielding. let me be very clear. this is about following the law. we negotiate, we vote and pass laws and the president signs them and they should be enforced. that's what this conversation is about, madam speaker. stem express has thumbed its nose against the investigative panel and obstructed our efforts to bring light to the fetal tissue procurement industry. nearly a year ago, the panel requested information from stem express regarding where they procure their fetal tissue, who they distribute it to. any communications instructing company employ quees to produce fetal tissue and all accounting and bank records related to fetal tissue. stem express, in response to that request have given us none,
zero, no documents. so we compelled stem express to provide the panel with this information. the panel should a company subpoena. instead of complying with the subpoena, stem express only turned over limited information to the panel and the information that they turned over to us was so heavily redacted that it was completely useless for investigative purposes. today, the panel has not received a single accounting or bank record from stem express. so they have failed to comply with our requests and our subpoenas in violation of the law. if stem express is within its limits in the law and nothing is illegal or moral, why do they refuse to turn overall the documents that our panel has requested? open your accounting records so shall to a congressional panel shouldn't be that difficult. stem express has had plenty of
time to get their act together and provide us the documents we have asked for. other organizations we have reached out and made the same requests have turned over the documents in a pretty timely fashion. for fail tur to comply with a subpoena, this panel has recommend the the house to hold them in contempt of congress. . we subpoenaed the bank. the bank provided us with stem express' banking records. so, again, stem express won't give us the records but we got them from the bank. we now know why stem express was hiding the documents. the banking records reveal that stem express may have been shredding documents that were directly related to this panel's investigation. the bank records show that payments were made to a shredding company, a shredding company. and we looked back, all the
records we saw from stem express, back to 2012, there is no payments to a shredding company. but when this panel started its investigation, when we started asking for documentation, guess what? you have bank records that show they hired a shredding company. why hire a shredding company? when we're starting our investigation? can i have 30 seconds? >> may i inquire as to how much time we have remaining? the speaker pro tempore: the gentleman has three minutes remaining. the gentlelady has 16 minutes. >> we'll yield an additional one minute. the speaker pro tempore: the gentleman yields an additional one minute. the gentleman is recognized. mr. duffy: there's no cause, no reason why stem express would allegedly shred these documents. we both know on both sides of the aisle, though we may have a disagreement on this issue, that when this congress sends a
lawful request to an institution, they're required to provide the documents that are requested. both sides of the aisle know that when we send a subpoena, those who are subpoenaed are required to provide those documents to us. so stem express has failed to comply with these requests and these subpoenas and if they're willing to violate the law in regard to subpoenas to hide information, the question becomes, what laws are they willing to violate in regard to the sale of baby body parts? i think that question deserves to be answered. by stem express. by this institution. and for the american people. so i would ask support for this additional funding to complete this investigation and provide documentation to this country and to this house about what's been taking place in regard to the procurement and sale of fetal tissue. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from mississippi reserves. >> reserve. the speaker pro tempore: the gentlelady from illinois is recognized. ms. schakowsky: it's really a pleasure now to yield one minute
to a new member who has served over three decades in the pentagon legislature and now has joined us, the gentleman from pennsylvania, mr. evans. the speaker pro tempore: the gentlelady is recognized for one minute -- the gentleman is recognized for one minute. mr. evans: thank you, madam speaker. i'd like to thank the gentlelady from illinois. in the short two weeks i've been here, madam speaker, i have observed a lot of interesting things take place. what i especially observe at this time, madam speaker, is that the american taxpayers shouldn't be asked to spend another $800,000 on an unnecessary and dangerous selective investigation. don't take my word, mr. speaker. look at the aspect of quotes from around the world. tennessee, right now the panel's creating the perception that central broiled in a wild goose chase. "the new york times," needed a video or the many -- neither the video nor any investigations
that have follow found any evidence that planned parenthood offers to sell tissue regarding profit. elected officials should not use the power of the office to intimidate citizens who hold different points of view. "the new york times," now there is any reason to conduct this investigation. republicans are pointlessly attacking a practice that could save lives in the process, politically putting lives at risk. "the hill," the committee is a abusing its power and -- is abusing its power. science labs and technicians are receiving hate mails. the speaker pro tempore: the gentlewoman's time has expired. ms. schakowsky: i yield the gentleman another minute. the speaker pro tempore: the gentlelady yields one minute. the gentleman is recognized. mr. evans: the fact is planned parenthood doesn't sell fetal tissue for profit and never has. a republican-led house panel is undetermined in conducting its own investigation, even more
troubling than the considerable time and money that will be wasted on this political damage to health care and medical research, madam speaker, this is not needed. we should be against it. thank you. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlelady from illinois reserves. the gentleman from mississippi is recognized. >> i'll continue to reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from illinois is recognized. ms. schakowsky: now i'd like to yield one minute to the gentlelady from california, congresswoman chu. the speaker pro tempore: the gentlelady is recognized for one minute. ms. chu: today republicans are asking taxpayers to spend $800,000 to cover for theirs -- for their mistakes. the select panel to investigate planned parenthood, which was created based on lies spread by anti-abortion extremists, has already overspent the $1 million this republican congress has allocated them with no real findings. now they want to continue their attack on women and planned parenthood.
this is outrageous. this select panel, along with 13 states, three house committees and a texas grand jury investigation, has found no wrongdoing on the part of planned parenthood. it's clear that after a year of investigations, republicans are not seeking truth or better policy. instead, this panel has released confidential documents to the public, compared researchers to nazi war criminals, and exposed doctors and researchers to harassment and violence. we cannot continue to fund this fruitless witch hunt that endangers our researchers and slows important medical discoveries. i strongly oppose this committee and urge my colleagues to vote no. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentlewoman from illinois reserves. the gentleman from mississippi is recognized. >> madam speaker, may i inquire as to how many additional speakers the minority may have? the speaker pro tempore: we have
-- ms. schakowsky: we have six additional speakers and still i think some additional time beyond that. the speaker pro tempore: the gentleman from mississippi is recognized. >> madam speaker, i yield one minute to the gentleman from pennsylvania, mr. rothfus. the speaker pro tempore: the gentleman is recognized for one minute. mr. rothfus: madam speaker, i rise today in support of this resolution. the select investigative panel oinfant lives has been investigating to -- panel on instant lives has been investigating this issue. the evidence revealed appalling practices. for example, on video we saw a planned parenthood doctor talking about doing, quote, less crunchy types of abortions. that was to make sure they had in tact body parts to sell. the gruesome practices the panel discovered shocked the conscience. where does this end? it was startling to learn the university of new mexico had a summer camp program in which students dissected the brains of unborn children. according to documents obtained by the panel, the university
ordered from a late-term abortion doctor, quote, whole, fixed brains to dissect with summer camp students. hink about that. we're talking about students, teenagers, dissecting the brain. what mr. barrow:ity are we teaching our children -- what barbarity are we teaching our children? how seared have our consciences become? the select panel must move forward with the investigation of these alarming violations of law and assaults on human dignity and conscience. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. mr. harper: reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from illinois is recognized. ms. schakowsky: now i'd like to yield one minute -- one minute to congressman and dr. raul ruiz of california. the speaker pro tempore: the gentleman is recognized for one minute. mr. ruiz: thank you. i rise in strong opposition to h.r. 933. i oppose funding for the select panel to attack and intimidate women's health care. the select panel is a baseless committee formed with no regard
to the facts or evidence of this case. in fact, the creators of the purposely doctored and highly manipulated videos that they consistently bring up that this investigation is based on have been indicted on criminal felony charges which we should be investigating their legal practices instead. continuing to fund this panel is a disgrace and this investigation must cease immediately. that d of taking action would improve the lives of women and families across the country, this panel continues to chase baseless allegations. as an emergency physician, i am exceptionally disappointed the reckless work of this panel puts women's reproductive rights in jeopardy and threatens to undo the progress we have made over the last four years -- 40 years. it is also a complete waste of taxpayer money. i stand in strong opposition to this resolution and call on this panel to be disbanded. let's take real action to improve the health and well-being of this country. i yield back the balance of my time. the speaker pro tempore: the
gentleman yields back the balance of his time. the gentlelady from illinois reserves. and the gentleman from mississippi is recognized. mr. harper: i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from illinois is recognized. ms. schakowsky: now i'd like to yield to my friend and congresswoman from the state of wisconsin, congresswoman gwen moore, one minute. the speaker pro tempore: the gentlelady is recognized for one minute. mr. moore: thank you so much, madam speaker -- ms. moore: thank you so much, madam speaker, and thank you to the gentlelady from illinois. i rise today in strident pposition to h.r. 933. madam speaker, we've heard so much about fake news lately. and now we're being asked for taxpayer funding for fake congressional committees. this resolution provides another $800,000 taxpayer dollars to the republicans' ongoing hatchet job against planned parenthood. we already know the facts on the fake planned parenthood videos, video, and the
goals to create untrue facts. so far this fake committee has found no wrongdoing by planned parenthood or their doctors and of course this panel knows that they wouldn't find anything because planned parenthood has been cleared of wrongdoing 17 times. by three different house committees, 17 state investigations and a grand jury. now, despite all this, republicans want to waste more taxpayer dollars -- the speaker pro tempore: the gentlelady's time has expired. ms. schakowsky: i yield the gentlelady 30 seconds. the speaker pro tempore: the gentlelady yields 30 seconds. the gentlelady is recognized. ms. moore: thank you. despite all this, republicans want to waste more taxpayer dollars for their smear campaign . money that could be used on meaningful measures to reduce infant mortality, feed hungry children or improve early
childhood education. what we really need to get to the bottom of is what will it take to get republicans to get the target off women's backs? do that and we might actually make some progress. i yield back the balance of my time. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentleman from mississippi continues to reserve. the gentlelady from illinois is recognized. ms. schakowsky: now i'd like to call on the gentleman from michigan, congressman dan kildee . the speaker pro tempore: the gentlelady is -- the gentleman is recognized for one minute. mr. kildee: thank you, madam speaker. i thank my friend and colleague for her leadership and for yielding. look, let's just be clear. we know what this is. this is yet another attempt to fund with federal taxpayer dollars a republican messaging effort to attack planned parenthood. more than 2 1/2 million people, 2 1/2 million women every year rely on planned parenthood for
life-saving cancer screenings, for other health services. we have important legislative work to do and we ought not be using taxpayer dollars to fund this effort which has clearly been described in all sort of lofty townes but is essentially -- tones but is essentially a political witch hunt for an organization that provides essential services to women. the majority cannot deny the chilling effect that this effort has had on medical research. en the ths already been revealed -- it's already been revealed that this is also an attack on stem cell research. i mean, just have to listen to the debate. we need to make sure that we're pursuing scientific research, to fight diseases like diabetes, like alzheimer's, like multiple sclerosis, the disease of my wife jennifer. if i can have another 30 seconds? ms. schakowsky: another 30 seconds. mr. kildee: to fight diseases like multiple sclerosis.
a disease my wife jennifer has been fighting for 18 years. we're one of those families that when we hear about medical research and stem cell research in particular, our ears prick up because we know there's hope in that research. this effort, no matter what anybody wants to say, it's well documented it's had a chilling effect on that medical research and we ought to shut this down. with that, madam speaker, i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from mississippi continues to reserve. the gentlelady from illinois is recognized. ms. schakowsky: yes, i'd like to yield one minute to the gentleman from florida, mr. deutch. the speaker pro tempore: the gentleman is recognized for one minute. mr. deutch: it's time to move on from this dangerous, partisan and wasteful investigation into planned parenthood. the case is closed. after investigation by a texas grand jury and the panel. the majority wants $1.5 million
from the american taxpayers to fund this dangerous sham when they know they will never find evidence against planned parenthood. the majority knows if they keep this in the headlines, it will do real damage to women seeking health care. they know it will fake news sites on the internet and block women from exercising their constitutional rights and it will unfairly harass women's health clinics and will put abortion providers and their staffs in danger. this panel serves no true investigation purpose. it is a political tool. it is a disgrace. and i urge my colleagues to vote no. i yield back. the speaker pro tempore: the the ntlewoman from illinois is
recognized. ms. schakowsky: i yield to the the gentlewoman from california, one minute, barbara lee. the speaker pro tempore: the gentlelady is recognized. ms. lee: thank you for yielding and your tremendous leadership on this issue and so many issues that affect women. i rise in strong opposition to h.res. 933, which is nothing more than a politically motivated bill that would shamefully provide $800,000 to the panel to sokol investigate planned parenthood and attack women's health. republicans are asking for more money to continue their baseless attacks to undermine scientific research. how outrageous. this is another attempt to deny women, especially low-income women access to health care. there have been multiple hearings and committee investigations, none of which which resulted in any evidence of wrongdoing by planned parent
hood. this resolution and the acksurd select panel investigation amounts to nothing more than a witch hunt. instead of wasting millions of taxpayer dollars on this smearing, we should be investing in women's health care. call for an end on this select panel to attack women's health. the speaker pro tempore: the gentlelady's time has expired. the gentleman from mississippi reserves. the gentlewoman from illinois is recognized. ms. schakowsky: i yield one minute to the the gentlewoman from florida. the speaker pro tempore: the gentlelady is recognized. ms. frankel: i join my democratic colleagues in opposing funding for a legislative panel that instead of protecting is jeopardizing life. just ask the wife and four children and 10 grandchildren of
george tiller, a good doctor while attending church was shot dead by an anti-abortion extremist. his loved ones know the tragic consequences of having a target on one's back and what this panel is doing is funding and creating new targets. every day clinics dealing with social media threats, bomb scares, harassment, we are playing deadly politics here, endangering lives and halting medical break-throughs. enough is enough. i urge my colleagues to oppose this resolution and i yield back. the speaker pro tempore: the gentlelady yields back. the gentleman from mississippi continues to reserve and the gentlelady from illinois is recognized. ms. schakowsky: i want to say a few things before yielding back to the gentleman from pennsylvania. you know we have heard a lot of
accusations against the -- certain businesses et cetera and institutions. and the republicans have selectively and repeatedly released documents and letters, including a so-called referral to the new mexico attorney general to the press before sharing them with democrats. this is clearly a political move and manufactured their own misleading so-called exhibits and withheld documents and information from democrats in violation of the house rules. they have abused their power throughout the whole time and should now not be allowed to continue to get any more money for this panel. so, mr. -- madam speaker, i urge my colleagues to defeat the previous question ffment we defeat the previous question, i would offer an amendment to the resolution that would abolish
the select panel instead of funding it. let's be done with this once and for all. and at this point, i yield back the remaining time to mr. brady. the speaker pro tempore: the gentlelady yields back. and the gentleman from pennsylvania is recognized. mr. brady: i urge my colleagues to vote no. i reserve a little bit of my time because i thought this would be the last time that our chairman mrs. miller would be here. instead we got mr. harper. that's ok, we'll take the second. but mrs. miller is going on to other things. she's on other endeavors. the sweetness is she is leaving here and going home. she has been a great chairman. we have had the pleasure of working together. we agree 99.9% of the time and without question, she was a --
the classiest person in this institution. i wish her well and whatever i could do -- if i'm in michigan, i will stop and see her and if she's in philadelphia, i would love to see her. with that, i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from mississippi is recognized. mr. harper: madam speaker, i share that admiration for representative miller who will be living at the end of this term and great to see the working relationship that they have had together on the committee of house administration. it has been an excellent example of how this place can operate. let us come together, though, to
fulfill our response builts and provide the committee, both the majority and the minority the funding they need to finish their work this year. i yield back the balance of my time and i move the previous question. the speaker pro tempore: does the gentlelady from illinois have a unanimous consent consent request? ms. schakowsky: i ask unanimous consent to insert the text of my amendment in the record along with extraneous materials immediately prior to the vote on the previous question. the speaker pro tempore: without objection. so ordered. the question is on ordering the previous question on the resolution. those in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. mr. brady: i call for a roll call vote. the speaker pro tempore: the yeas and nays are requested. those favoring a vote by the yeas and nays will rise.
the democrats for working with us in good faith for getting this legislation across the fin herb line. another issue, i believe the senate will be taking up later today is the 10-year extension of the iran sanctions act. that's something we passed near unanimously in the house. that's something that needs to get done. we have completed the conference report on the defense authorization bill, the ndaa bill. that gives our troops a much-needed 2.1% pay increase, this is extremely important to give our war fighters what they need, to give our military the reforms they need to stretch our military dollars further. that's something we're excited about bringing to the floor. we're getting close on the wrda conference report. we hope to bring that to the floor early next week. with that, i'll just open it up. >> as a free market
conservative, i'm wond forget you're uneasy in any way with the trump administration offering incentives to keep jobs in this country, some would say picking winners an losers. mr. ryan: i'm pretty happy we're keeping jobs in america, aren't you? i don't know the details of the arrangement but i know that mike pence is still the sitting governor of indiana and i have no doubt he has a hand in helping this, and this is what governors do. i talk to scot walker about this all the time in wisconsin where governors make sure companies say stay in their state or bring companies to their state. i don't know the details of this but i think it's good to people are keeping jobs in indiana nstead of going to mexico. >> can president trump undo the
actions about work visas? mr. ryan: there are hundreds of executive actions they'll be sifting through. i'm not going to get into everything on their merits. that's something the transition team is working on as to what executive actions the obama administration did and how they'll deal with it. this is something the transition team is going to be working on. i know what they want to do is make sure they have smooth transitions. what we're focused on with respect to immigration, securing the border. making sure that the border is secure, making sure that the resources match the authorization that currently exists to actually secure the worder. that's the legislation we're ocused on. >> are you interested in seeing changes in medicare -- mr. ryan: i propezed changes. >> are you still interested in it? what would the timeline be? and are you concerned that some
republican colleagues in the senate seem to be trying to temp they are house house from that? mr. ryan:ic what's happening is you're getting the latest wave of democratic talking points which is to try to play medicare scare talking points, which is what they do every every other tuesday. i have not discussed medicare with president-elect trump osmba macare does a lot of damage to medicare in our opinion. it puts the ipab in charge of cutting medicare in ways that will lead to denied care for seniors. medicare itself is on a path to going bankrupt in 2028, i believe, off the top of my head, so the trust fund gets exhausted next decades so we are going to have to do things to preserve and shore up this program. the reforms we have been talking about here in the house republicans for many years are reforms that do not affect the benefits for anyone in or near retirement. but for those of us who are in
the younger generation, the x generation on down, it won't be there for us if we stay on the current path. so we have to d things to fix this program so we can guarantee that it's there, intact for current seniors but also that there's something there for us when we retire. the kinds of reforms we have been advocating here are nothing different than what federal employees have. you get to choose among plans that are comprehensive and guaranteed to meet your benefits or if you want to stick with the current, traditional program, you can do that as well. that is good reforms. that's what c.b.o. tells us is a good way of improving costs, lowering prices and expanding choices. medicare advantage is a program that medicare works pretty darn well that seniors like. so obviously you've hiten an issue i care a great deal about, because i care a great deal about this program. i want to make sure it's there for current seniors. as far as what our plans are with respect to reforming and preserving, that's something we haven't discussed yet with