| Speaker | Time | Text |
|---|---|---|
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One Minute Prayer
00:08:16
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unidentified
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Levitt already spoke to reporters. | |
| The president will convene his National Security Council. | ||
| Again, we do not know if that will be in the Situation Room or perhaps in the Cabinet room. | ||
| But again, the schedule is light. | ||
| We know VP Vance flew out to California late last week, but I imagine all of the top players are going to stay close to home here in D.C. to be able to react to any situation that might arise here in the next few hours. | ||
| And then, how does this all change the calculus for the NATO summit that's kicking off in Brussels tomorrow, I believe? | ||
| And what will be the representation of the public? | ||
| Watch the rest of this on our free C-SPAN Now video app as we take you now to the U.S. Capitol where the House is gabbling in. | ||
| This is live coverage on C-SPAN. | ||
| Would you pray with me? | ||
| God of mercy and compassion, though the earth rages with unquenchable hostility, the fog of war blurs the truth on the ground, and all the while innocents are threatened by the virulent wrath of their oppressors, we can only pray that you will fulfill your promise of peace. | ||
| Whatever side we find ourselves on, make us instruments of that peace. | ||
| In a world of hatred, may each dare to forgive. | ||
| When we are overwhelmed with despair and want only to fight our way out, give us reason to trust that your divine plan will make its way in us. | ||
| And when our inclination toward conflict overrides our responsibility to seek understanding, grant us your pardon and redeem our warring ways. | ||
| May this be the prayer of all your people: that no one side feels that it alone bears the burden of making things right. | ||
| May enemies find within themselves the humility to seek peace. | ||
| And may allies uphold their faith in you to make it happen. | ||
| In your sovereign name we pray. | ||
| Amen. | ||
|
unidentified
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Amen. | |
| The chair has examined the journal of the last day's proceedings and announces to the house the approval thereof pursuant to clause one of rule one. | ||
| The journal stands approved. | ||
| The Pledge of Allegiance will be led by the gentlewoman from Minnesota, Ms. McCullough. | ||
|
unidentified
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I pledge allegiance to the flag of the United States of America and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all. | |
| The chair will entertain requests for one-minute speeches. | ||
| For what purpose does the gentleman from Pennsylvania seek recognition? | ||
| Mr. Speaker, the question may miss consent to address the House for one minute and to revise and extend my remarks. | ||
| Without objection, the gentleman is recognized for one minute. | ||
| Thank you, Mr. Speaker. | ||
| I rise today to recognize an outstanding group of students from Wellsboro, Pennsylvania. | ||
| The team from Rock L. Butler Middle School recently placed fifth in the nation in this year's Capitol Hill Challenge, a remarkable achievement. | ||
| The 16-week financial education competition brings together thousands of student teams from across the country, each asked with investing a hypothetical $100,000 in the stock market. | ||
| The goal is to learn the fundamentals of financial literacy, teamwork, and long-term investing. | ||
| Competing against students from every congressional district, the Rock Elle Butler team stood out not only for their strong returns but for their discipline, collaboration, and commitment to learning. | ||
| Their performance reflects the dedication of their teachers and the support of the Wellsboro community. | ||
| I had the pleasure of meeting these students during their visit to Washington, and I can confidently say the future is in good hands. | ||
| Congratulations to the Rock Elle Butler Middle School team on this incredible accomplishment. | ||
| Thank you, Mr. Speaker, and I yield back the balance of my time. | ||
| The gentleman yields. | ||
| For what purpose does the gentlewoman from Minnesota seek recognition? | ||
| She addresses the House for one minute and rise and extend my remarks. | ||
| Without objection, the gentlewoman is recognized for one minute. | ||
| Mr. Speaker, nine days ago, Minnesota suffered the unbearable loss of one of our nation's finest public servants. | ||
| The targeted assassination of Melissa and Mark Hortman casts a long shadow of grief not only over Minnesota but our nation. | ||
| Under her leadership, Speaker Hortman left the state of Minnesota better than she found it. | ||
| She exemplified our values of hard work, respect, inclusion, and civil engagement. | ||
| And as we mourn the loss of Melissa and Mark, I join Minnesotans to pray for Senator John Huffman and his wife Yvette as they recover. | ||
| As Minnesota's top leader in human services, Senator Huffman shepherd historic investments for the most vulnerable among us, the elderly, those with disabilities both seen and unseen, and those recovering from addiction. | ||
| The grief that Minnesotans have endured in the days since this tragedy has been agonizing. | ||
| As we come together to heal, may we find comfort in the words of Melissa and Mark's children. | ||
| Hope and resilience are the enemy of fear. | ||
| I yield back, Mr. Speaker. | ||
| The gentleman yields. | ||
| For what purpose does the gentleman from California seek recognition? | ||
| You can ask, consent, and address the House for one minute. | ||
| Revise and extend the mark. | ||
| Without objection, the gentleman is recognized for one minute. | ||
| Thank you, Mr. Speaker. | ||
| I rise in sadness at the loss of a friend from Siskiyou County in Northern California, Sam Jackson, known as Samuel Burling Jackson. | ||
| He is a lifelong rancher in Siskiyou County. | ||
| The legacy of the Jackson family just goes on for generations. | ||
| He was a Navy veteran, very dedicated to the ranching life up there, as well as making it a stronger industry, agriculture, and ranching for others as well, with the service he did on the various committees and associations that he was part of. | ||
| Born in Weed in 1932, raised on the Jackson Ranch in Edgewood, California, he was the fourth Samuel Jackson at that time. | ||
| My understanding now, with the latest, there's actually eight Sam Jacksons in the family. | ||
| Served in the Navy in the Korean War. | ||
| He earned his degree in animal husbandry at Cal Poly, San Luis Obispo, and returned home to raise a family and build a life rooted in faith, hard work, and stewardship of the land. | ||
| Fierce advocate for agriculture, as I mentioned, protecting water rights, renting traditions, and farmland. | ||
| With his beloved wife, Erlene, he raised himself four children and ten grandchildren, leaving a legacy of love and leadership. | ||
| And he was just a great friend personally here at the barbecues and such. | ||
| I might end up behind the barbecue wagon there, maybe having an early times with a little seven up in it. | ||
| What a great friend he was. | ||
| What a guy that loved life and loved to share it with others and stand up for what was right as an American. | ||
| We greatly appreciated him. | ||
| Here's the picture I want to have everybody think of him as well. | ||
| I think that's magnificent there in his home county in Siskiyou on his lands. | ||
| What a leader. | ||
| What a great man. | ||
| I'm better to have known him. | ||
| God bless him. | ||
| I yield back. | ||
| The gentleman yields. | ||
| For what purpose does the gentleman from North Carolina seek recognition? | ||
| Mr. Speaker, I ask for commandments. | ||
| Without objection, the gentleman is recognized for one minute. | ||
| Mr. Speaker, I rise to recognize Juneteenth and the communities across eastern North Carolina who celebrate it with joy, unity, and meaningful reflection. | ||
| From Wilson to Columbia and Goldsboro to Rocky Mount, there was wonderful dancing with boots on the ground and plenty of delicious food and spirited singing. | ||
|
Supporting Legislation Against Taliban
00:15:55
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| Residents came together as a community to celebrate freedom and American value. | ||
| I thank every organizer and volunteer who helped make these events possible. | ||
| I also thank all who participated and especially our youth. | ||
| Mr. Speaker, we were able to honor the past and renew our commitment to a more prosperous future. | ||
|
unidentified
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Thank you. | |
| I yield back. | ||
| The gentleman yields. | ||
| For what purpose does the gentleman from California seek recognition? | ||
| Mr. Speaker, I seek unanimous consent to revise and step to address the House for one minute and revise next to my remarks. | ||
| Without objection, the gentleman is recognized for one minute. | ||
| Mr. Speaker, the elimination of Iran's nuclear weapons capacity is not just an important foreign policy objective. | ||
| It is an absolute national security imperative. | ||
| This has long been a point of bipartisan, non-partisan consensus. | ||
| Iran cannot get a nuclear weapon. | ||
| The targeted yet overwhelming strikes executed this past weekend were precisely tailored to achieve that limited yet vital mission. | ||
| Let's remember who we're dealing with here. | ||
| The Iranian regime is the world's foremost sponsor of terror. | ||
| They have funded monsters, sponsored violence, and sown chaos far beyond their borders. | ||
| Their all-consuming obsession is the obliteration of America's principal ally in the Middle East, and they have avowed death to America itself. | ||
| It is therefore deeply disturbing to see the reflexive partisan reactions by certain members of Congress. | ||
| Either they believe Iran should obtain a nuclear weapon, or they hope the regime's nuclear program will magically disappear on its own. | ||
| Both positions are equally delusional. | ||
| It is time to put partisanship aside and come together as a country. | ||
| This is not just another political issue. | ||
| It is about the safety and security of the American people and the future of civilization itself. | ||
| I yield back. | ||
| The chair lays before the house the following enrolled bill. | ||
| Senate 331, an act to amend the Controlled Substances Act with respect to the scheduling of fentanyl-related substances and for other purposes. | ||
| Pursuant to clause 8 of Rule 20, the Chair will postpone further proceedings today on motions to suspend the rules on which a recorded vote or the yays and nays are ordered or votes objected to under clause 6 of Rule 20. | ||
| The House will resume proceedings on postponed questions at a later time. | ||
| For what purpose does the gentleman from Tennessee seek recognition? | ||
| Mr. Speaker, I move that the House suspend the rules and pass H.R. 260 as amended. | ||
| The clerk will report the title of the bill. | ||
| H.R. 260, a bill to require a strategy to oppose financial or material support by foreign countries and non-governmental organizations to the Taliban and for other purposes. | ||
| Pursuant to the rule, the gentleman from Tennessee, Mr. Burchett, and the gentleman from Illinois, Mr. Jackson, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Tennessee. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and to include extra anecdotes materials on this measure. | ||
| Without objection. | ||
| And I yield myself with such time as I may consume. | ||
| The gentleman is recognized. | ||
| Thank you, Mr. Speaker. | ||
| My bill H.R. 260 focused on three main issues. | ||
| One, keeping financial and material support out of the hands of the Taliban. | ||
| Two, reporting on cash assistance programs. | ||
| And three, reporting on the Afghan Fund and the Afghan Central Bank. | ||
| Since December of 2021, the United States has spent over $5 billion in cash. | ||
| They sent over $5 billion in cash to Kabul. | ||
| This money has been taxed and stolen by the Taliban, yet we continue to send it. | ||
| Mr. Speaker, that needs to end. | ||
| The State Department needs to ensure that any aid does not go to terrorists in Afghanistan. | ||
| We need to have a clearer understanding of the influence the Taliban has on not just international aid, but Afghan banking systems as well. | ||
| When this bill was originally introduced at the end of 2023, it did not mention non-governmental agency organizations in Afghanistan. | ||
| However, our understanding of the reality on the ground has changed. | ||
| During a hearing last year, former Secretary of State Blinken admitted that over $10 million had been paid to the Taliban. | ||
| Contacts within Taliban resistance forces have provided me with a different narrative. | ||
| According to them, nearly all of the cash aid sent to Afghanistan ends up in the hands of Taliban. | ||
| Mr. Speaker, they will hate us for free. | ||
| We do not need to give them hard-earned American tax dollars. | ||
| It's time we know what is going on and implement a strategy to make sure this aid goes to those who need it. | ||
| I'd also like to thank my colleagues on the other side of the aisle for working with us closely on this important piece of legislation and coming up with a bill that works for both parties. | ||
| My Democratic friends agree that it's time to stop funding terrorist organizations in Afghanistan and across the Middle East. | ||
| I'd also like to thank my dear friend Sean Ryan from Middle Tennessee, former Navy SEAL, who brought this to my attention, and my good friend Legend, who also is, he goes by that name because he has a hit out on his life because he's taken a tough stand. | ||
| He's an Afghan that fought for America, and he's my friend. | ||
| And thank you, and I reserve my remaining time. | ||
| Gentleman Reserves, the chair recognizes the gentleman from Illinois. | ||
|
unidentified
|
Mr. Speaker, I rise in support of H.R. 260, and I yield myself as much time as I may consume. | |
| The gentleman is recognized. | ||
|
unidentified
|
I'd like to thank my dear friend and honorable colleague, the Honorable Tim Burchett, the great state of Tennessee. | |
| Mr. Speaker, oversight of U.S. policy towards Afghanistan does not have to be a partisan issue. | ||
| We can all agree that we do not want American dollars sent to Afghanistan to be diverted to the Taliban. | ||
| However, we must do so in a way that does not further alienate those partners. | ||
| After already reeling from the Trump administration's foreign assistance freeze, which terminated nearly all humanitarian assistance to Afghanistan, despite its compliance with U.S. law and policy. | ||
| So I am glad that Mr. Burchett was willing to work with Democrats to address many of our concerns about this legislation. | ||
| I'm also glad that this legislation contains important amendments offered by the Honorable Representative Kamlagradov to require additional reporting on the Haqqani network. | ||
| Representative Keating, too, also has asked that we ensure that the strategy required by this bill prioritize Afghan women and girls as well as Afghan allies. | ||
| These amendments adopted with bipartisan support during the markup underscore that there remains considerable areas of bipartisan consensus in the House about our Afghanistan policy. | ||
| Unfortunately, there is not a consensus about what the Trump administration is doing on Afghanistan because they won't tell us. | ||
| The State Department has ignored multiple bipartisan requests from this committee dating back to February for more than about the deals it is making with the Taliban and the Haqqani network, despite the fact that Republican-led Congress enacted a law codifying the coordinator for Afghan relocation efforts. | ||
| Secretary Rubio is disabling the infrastructure supporting our Afghan allies and leaving Congress in the dark. | ||
| Likewise, Secretary Rubio has abolished the special envoy for Afghan women and girls, even as this administration lifted the rewards for justice bounties on the leaders of the Hakini Network, a group with the blood of U.S. troops on their hands. | ||
| We urgently need more information and assurances from the Trump administration about their priorities in Afghanistan and now Iran. | ||
| And I hope my colleagues on the other side will stand up for our committee's oversight responsibility for now. | ||
| We are glad to have the opportunity to work together on this legislation. | ||
| I want to thank again the Honorable Congressman Tim Burchett and all those great bipartisan advocates. | ||
| I encourage my colleagues to join in supporting this measure and I reserve the balance of my time. | ||
| Gentlemen of Reserves. | ||
| The gentleman from Tennessee is recognized. | ||
| Mr. Speaker, I have no more speakers and I will reserve until the gentleman yields back. | ||
| Gentlemen Reserves, gentlemen from Illinois is recognized. | ||
|
unidentified
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I have no further request for time and I am prepared to close if the other side has no further speakers. | |
| Gentleman from Illinois is recognized. | ||
|
unidentified
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Mr. Speaker, our Afghan allies risked their lives for America. | |
| The United States must continue to do everything it can to support our partners on the ground, providing assistance to Afghan civilians, including women and children, while also ensuring U.S. foreign assistance isn't being diverted into the hands of the Taliban. | ||
| There remains considerable areas of bipartisan consensus in Congress when it comes to our Afghanistan policy. | ||
| This legislation will lean on the consensus to help bolster our committee's oversight power and take a step towards delivering to our Afghan allies the support that they deserve. | ||
| I hope my colleagues will join me and support this bill. | ||
| I yield back the balance of my time. | ||
| Gentleman yields. | ||
| The gentleman from Tennessee is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I appreciate the kind words that Representative Jackson said about me. | ||
| He's probably one of my closest friends across the aisle. | ||
| I don't agree with him on anything, but he's my friend. | ||
| And I dig that. | ||
| Mr. Speaker, we must send a very strong message that the United States will no longer tolerate sending U.S. tax dollars to terrorist organizations in Afghanistan and across the Middle East. | ||
| I urge my colleagues to support this measure, and I yield back the balance of my time. | ||
| The gentleman yields. | ||
| The question is: will the House suspend the rules and pass the bill H.R. 260 as amended? | ||
| Those in favor say aye. | ||
| Aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed. | ||
| And without objection, the motion to reconsider is laid on the table. | ||
| Without objection, the title is amended. | ||
| For what purpose does the gentleman from Tennessee seek recognition? | ||
| Mr. Speaker, I move the House suspend the rules and pass to H.R. 1998 as amended. | ||
| Clerk will report the title of the bill. | ||
| H.R. 1998, a bill to require the imposition of sanctions with respect to foreign persons engaged in piracy and for other purposes. | ||
| Pursuant to the rule, the gentleman from Tennessee, Mr. Burchett, and the gentleman from Illinois, Mr. Jackson, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Tennessee. | ||
| I ask unanimous consent that all the members may have five legislative days to revise and extend their remarks and to include extra announcement materials on this measure. | ||
| Without objection. | ||
| I also ask unanimous consent to introduce end of the record exchanges of letters with other committees of referral on this bill. | ||
| Without objection. | ||
| And I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| I rise in support of H.R. 1998, the Sanctioned Sea Pirates Act, introduced by my dear friend Representative Jackson. | ||
| This legislation is a strong statement of intent that Congress will not tolerate the sea piracy which threatens trade across the globe. | ||
| Sea piracy is an age-old problem that may seem by modern standards, but the reality is it's very brutal. | ||
| Sea piracy is a violent crime that endangers the lives of merchant sailors, disrupts global trade, and can cause massive economic losses. | ||
| America has long stood against sea piracy. | ||
| However, in recent years, piracy has been on the rise, Mr. Speaker. | ||
| Pirates, often based out of Somalia, have taken advantage of disruptions created by the Houthi aggression in the Red Sea and Gulf of Aden. | ||
| The result has been a disturbing spike in pirate attacks in the waters surrounding the Horn of Africa. | ||
| The bill uses economic power to support ongoing military efforts by the U.S. and its partners to combat piracy and safeguard trade in this vital strategic waterway. | ||
| The bill imposes full financial and visa sanctions against any foreign person who engages in piracy. | ||
| By leveraging the economic power of the United States to supplement the work of our armed forces, we can help end the end of sea piracy and ensure the safety of our merchant sailors. | ||
| I support this legislation and reserve the balance of my time. | ||
| The gentleman reserves. | ||
| The gentleman from Illinois is recognized. | ||
|
unidentified
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Thank you, Mr. Speaker. | |
| I rise in support of H.R. 1998, and I yield myself as much time as I may consume. | ||
| Gentleman is recognized. | ||
|
unidentified
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Thank you, Mr. Speaker. | |
| I rise to support my bill, Sanctioning Sea Pirates Act. | ||
| Over the last few years, we have seen and also been reminded how fragile global supply chains can be and how the closing of narrow physical choke points can lead to shortages and inflation. | ||
| More than 30% of global containers trade passes through the Red Sea. | ||
| If these waters cannot be navigated because of pirates and terrorism, Americans will continue to feel the cost here at home. | ||
| Unfortunately, we are now seeing exactly what we are trying to prevent. | ||
| Ships traversing the Red Sea and the Gulf of Aden now face two major threats and more mounting: from the Houthis who continue to perpetrate piracy on the high seas, and from Somalian pirates who are plundering and pillaging at rates unseen in a decade. | ||
| My bill proposes sanctions on any pirates around the world, blocking assets in or associated with the United States and denying them entry into our country. | ||
| As an international leader in trade and security, the United States must seek to stop piracy around the world. | ||
| This is America on its finest trying to help facilitate global trade, stopping piracy around the world, and we must secure global waterways for the safety of ships, crew members, and critical ship-dependent supply chains. | ||
| My bill is also necessary to step to ensure the development of African economies may generate greater prosperity through stability in Somalia. | ||
| No country can be expected to grow and prosper while facing serious piracy threats. | ||
| We cannot allow violent criminals and terrorists to continue stunting the economic development of Somalia and the surrounding region. | ||
| Beyond direct threats to the United States and Somalia, piracy is often linked to terrorism and crime. | ||
| This bill reaffirms the United States' position as a global economic and security leader, and I would like to thank all of you for helping to move this bill through the House. | ||
| We strongly believe that this is a necessary step towards greater stability and safety for both the United States and East Africa. | ||
|
Transatlantic Fiber Optic Cable
00:11:15
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unidentified
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Attacks on maritime shipping endanger innocent lives, raise the cost of goods, and destabilize local communities in Yemen and the Horn of Africa. | |
| For American national and economic security, we must pass this legislation and crack down on global piracy. | ||
| I urge all of my colleagues to support this legislation and reserve the balance of my time. | ||
| I encourage my colleagues to join in supporting this measure, and I reserve the balance. | ||
| Gentleman Reserves, the gentleman from Tennessee is recognized. | ||
| Mr. Speaker, I have no more speakers and will reserve until the gentleman yields back. | ||
| The gentleman from Illinois is recognized. | ||
|
unidentified
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To advance global security and economic prosperity, the United States must seek to stop this piracy act around the world. | |
| Mr. Speaker, the question is in the motion that was offered by the gentleman from Tennessee and that the House suspend the rules and agree to H.R. 1998. | ||
| Those in favor say a those opposed say no. | ||
| That's not what you're supposed to say. | ||
| That's what he says. | ||
| Gentlemen Yields. | ||
|
unidentified
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I yield back. | |
| Gentleman yields. | ||
| The gentleman from Tennessee is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I urge the body to pass the Sanctions Sea Pirates Act and send an unmistakable message. | ||
| The United States of America stands firmly against sea piracy, and I'm committed to ensuring freedom of navigation against crime in the high seas. | ||
| I yield back the balance of my time. | ||
| Gentleman yields. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 1998 as amended? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed. | ||
| Mr. Speaker, I request the yeas and nays. | ||
| Yays and nays are requested. | ||
| All those in favor of taking this vote by yeas and nays will rise and remain standing until counted. | ||
| A sufficient number having risen, the yeas and nays are ordered. | ||
| Pursuant to Clause 8 of Rule 20, further proceedings on this question will be postponed. | ||
| Thank you, sir. | ||
| For what purpose does the gentleman from Florida seek recognition? | ||
| Mr. Speaker, I move that the House suspend the rules and pass the bill H.R. 1737. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 121, H.R. 1737. | ||
| A bill to direct the Secretary of Commerce to submit to Congress a report containing an assessment of the value, cost, and feasibility of a transatlantic submarine fiber optic cable connecting the contiguous United States, United States Virgin Islands, Ghana, and Nigeria. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Billarakis, and the gentleman from New Jersey, Mr. Pallone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on the bill. | ||
| Without objection. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| Thank you. | ||
| I appreciate it. | ||
| I rise today, Mr. Speaker, on behalf of H.R. 1737. | ||
| I'm advocating for this particular bill. | ||
| The bill would direct the Secretary of Commerce to submit a report on the value, cost, and feasibility of developing a transatlantic submarine cable connecting the United States, the U.S. Virgin Islands, Ghana, and Nigeria. | ||
| Submarine cables are critical components of communications infrastructure carrying data traffic across oceans. | ||
| There are more than 600 active and planned submarine cable systems that keep the world connected, but there is no cable connecting the United States to the continent of Africa. | ||
| A transatlantic submarine cable could provide national security benefits to the United States, given Africa's strategic importance and is an important issue to study, in my opinion. | ||
| I would like to thank Delegate Plasquette and Representative Folcher for their leadership on this particular bill, and I urge my colleagues to join me in voting in favor of H.R. 1737, and I'll reserve the balance of my time. | ||
| The gentleman in reserves, the gentleman from New Jersey, is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| Gentleman is recognized. | ||
| Mr. Speaker, I rise in strong support of H.R. 1737, a bill requiring the National Telecommunications and Information Administration, or NTIA, to assess the value, cost, and feasibility of a transatlantic submarine fiber optic cable connecting the United States, the U.S. Virgin Islands, Ghana, and Nigeria, and to submit a report to Congress with its findings. | ||
| The bill also directs NTIA to report to Congress on the current state of telecommunications connecting the U.S. Virgin Islands and the United States, including the assessment of the lifespan and security of telecommunications infrastructure linking the two. | ||
| This legislation will provide Congress with vital information on the strength and resiliency of communications infrastructure in the U.S. Virgin Islands. | ||
| It will also help us determine whether American interests can be served by connecting the U.S. and the African continent with undersea cable infrastructure by way of the U.S. Virgin Islands. | ||
| This bill is an important step to enhance American communications security and competitiveness around the world. | ||
| In recent years, Mr. Speaker, the United States and many allies have recognized the threat posed by untrusted Chinese telecommunications equipment and to our national security. | ||
| And thanks to the work of the Energy and Commerce Committee in Congress, we have taken steps to remove suspect equipment and software from American communications networks to protect against sabotage and undue influence by our adversaries. | ||
| Much of this work has been done on a bipartisan basis. | ||
| One noteworthy example is the legislation Congress passed to force the divestment of TikTok from ownership by companies controlled by the Chinese Communist Party, which passed overwhelmingly with hundreds of Democrats and Republican votes. | ||
| And that's why I was frustrated to learn last week that President Trump again unlawfully granted TikTok an extension, allowing China to infiltrate American networks for another 90 days. | ||
| President Trump's disregard for the law is well known at this point, but I was more disappointed that none of my Republican colleagues had the courage to call on the President to enforce the law. | ||
| Trump's stall tactics are allowing China to continue to collect massive amounts of information on Americans. | ||
| There are American companies that want to buy TikTok. | ||
| It's long past time for Trump to get this done. | ||
| There's also still more work to be done because network security does not end at the water's edge. | ||
| For decades, China and other adversaries have spent considerable time and money to deploy suspect telecommunications equipment and infrastructure across the African continent. | ||
| The assessment required in this bill is an important step to understand the cost of securing the connection between the United States and our African allies and how best to ensure a critical global communications channel is protected from the prying eyes of our adversaries. | ||
| But let me thank, I want to thank Representative Stacey Plaskett of the U.S. Virgin Islands for her leadership on this bill and also Representative Fulture as well on this effort. | ||
| So I urge my colleagues on both sides of the aisle to support this bill and I reserve the balance of my time, Mr. Speaker. | ||
| Gentlemen, Reserves, members are reminded to refrain from engaging in personalities towards the President. | ||
| The Chair recognizes the gentleman from Florida. | ||
| I'll reserve. | ||
| I'll reserve. | ||
| Gentleman Reserves, Chair recognizes the gentleman from New Jersey. | ||
| Mr. Miss Govana yield such time as she may consume now to Representative Stacey Plaskett of the Virgin Islands. | ||
| Gentlelady is recognized. | ||
| Thank you very much, Ranking Member Pallone, and thank you to this body. | ||
| I want to thank my colleagues on both sides of the aisle for recognizing the national security interests of this legislation, H.R. 1737, to direct the Assistant Secretary of Commerce for Communications and Information to submit to Congress a report containing an assessment of the value, costs, and feasibility of developing this transatlantic submarine fiber optic cable that's been discussed. | ||
| Today, hundreds of undersea fiber optic cables connect North America to Europe, South America, and Asia, but not a single cable directly links North America to the African continent. | ||
| This represents both a strategic vulnerability and a missed economic opportunity. | ||
| The Diaspora Linked Act represents an opportunity to establish a high-speed, secure telecommunications data connection to Africa from American soil to facilitate deepened economic connections and aid American regional security assistance. | ||
| This link will allow America to establish a direct digital presence on the African continent, both to capitalize on emerging economic opportunities and to protect our nation against cyber and military threats. | ||
|
Direct Link to Africa
00:04:06
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| The study would examine Lagos, Nigeria, and Accra, Ghana, as potential African landing points. | ||
| Both cities serve as established telecommunications hubs with existing undersea cable infrastructure linking West Africa to Europe and South America. | ||
| The presence of American embassies in both locations offer critical security benefits for cable operations. | ||
| Our adversarial nations are rapidly expanding their influence across the African continent, and a direct American telecommunications link to the continent is a strategic necessity. | ||
| China has systematically expanded its telecommunications and military presence across Africa. | ||
| The Chinese multinational Yat Huawei has constructed roughly 70% of Africa's information technology infrastructure. | ||
| China is pursuing the same strategy in the Caribbean, where at least 10 nations have signed belt and road agreements that open their nations to Chinese investment and influence. | ||
| China's expansion into Africa and the Caribbean makes establishing our own direct telecommunications link to these regions a strategic necessity. | ||
| Russia, as well, has destabilized Africa through disinformation campaigns and mercenary operations, positioning itself as an alternative to Western partnerships while fueling anti-democratic sentiment. | ||
| This strategy has made Africa a flashpoint in the global strategic competition between Russia and the West. | ||
| Moscow's support for authoritarian governments includes backing multiple coups in Nigeria, Mali, Sudan, Guinea, Burkina Faso that directly threaten democratic progress. | ||
| Our adversaries are systematically exploiting Africa's vast mineral wealth while we lack direct access. | ||
| Russia and China are extracting critical resources across the continent. | ||
| Uranium from Niger, the world's seventh largest producer, gold and lithium from Mali's extensive deposits, cobalt from the Democratic Republic of Congo, bauxite and phosphate from Burkina Faso. | ||
| These materials are essential to technology as well as defense industries. | ||
| We cannot afford to remain on the sideline. | ||
| Additionally, there are many African countries that want to engage with us, that want to do business with us. | ||
| Burkina Faso and Gola have reached out to our country to engage more, and this is an additional way for us to do that. | ||
| Additionally, let's look at the populations. | ||
| Africa has almost a billion individuals under the age of 30. | ||
| The United States, only 100 million. | ||
| The entire European Union, 140 million. | ||
| These young people represent a growing economic as well as potential allyship for the United States. | ||
| And we all know that through social media, internet, and internet commerce is the mechanism by which we are able to engage them. | ||
| An undersea cable linking the American East Coast to Africa via the United States Virgin Islands would create both a critical national security asset and a digital commerce expressway to strengthen America's global political, economic, and our military position. | ||
| Such undersea cable development would leverage the Virgin Islands' already existing telecommunications infrastructure, which already connects the territory to South America and the mainland in the United States and facilitate additional regional links. | ||
|
Romance Scam Prevention Act
00:09:05
|
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| Diaspora Link Act enables the United States to counter Chinese influence in global telecommunications while leveraging our existing strategic assets. | ||
| The U.S. Virgin Islands not only hosts established cable infrastructure but maintains a National Guard installation on St. Croix with an adjacent military support airport. | ||
| Assets that could directly support and secure these telecommunications operations. | ||
| The Virgin Islands, the most southern point of the United States, sits at the crossroads of century-old transit routes. | ||
| And we now have a chance to transform this strategic location into a cornerstone of American telecommunications infrastructure. | ||
| I really want to thank the Energy and Commerce Committee for its unanimous support of this legislation through regular order. | ||
| This bill passed the House in the 118th Congress with bipartisan support and identical text. | ||
| I thank my colleague, Congressman Fulcher, for his continued partnership to advance America's telecommunications as well as military and national security. | ||
| I urge my colleagues to support this critical measure. | ||
| Congress must protect American security interests in the Caribbean and strengthen our partnership across the Atlantic with our African partners. | ||
| I yield back. | ||
| Gentleman from New Jersey is recognized. | ||
| I reserve for the gentlemen. | ||
| Gentleman reserves. | ||
| Is the chairman prepared to close? | ||
| Yes, I am. | ||
| I have no further speakers. | ||
| I yield myself. | ||
| The gentleman from New Jersey is recognized. | ||
| As I may consume, Mr. Speaker, obviously, from what you're hearing from our representative from the Virgin Islands, this is an important bill in terms of not only the Virgin Islands, it was strengthening our links and communications and economy with Africa as well. | ||
| So for all those reasons, I would urge that we support the bill. | ||
| And I yield back, Mr. Chair. | ||
| Mr. Speaker. | ||
| Gentleman Yields. | ||
| The gentleman from Florida is recognized. | ||
| Well, thank you, Mr. Speaker. | ||
| I just want to commend the gentlelady for offering this very important bill. | ||
| And in closing, I'd encourage a yes vote on this particular bill. | ||
| And I'll yield back the balance of my time. | ||
| Gentleman yields. | ||
| The question is: will the House suspend the rules and pass the bill H.R. 1737? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentleman from Florida seek recognition? | ||
| Mr. Speaker, I move that the House suspend the rules and pass the bill H.R. 2481. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 119, H.R. 2481. | ||
| A bill to require online dating service providers to provide fraud ban notifications to online data service members and for other purposes. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Bill Arrakis, and the gentleman from New Jersey, Mr. Polone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on this particular bill. | ||
| Without objection. | ||
| Thank you. | ||
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I rise today in support of H.R. 2481, the Romance Scam Prevention Act, led by Representative Aladao. | ||
| This legislation would require online dating platforms to notify users when they've interacted with someone who has been removed from the platform for fraudulent activity. | ||
| Online dating platforms have been around for over 30 years and they continue to grow in popularity. | ||
| While they can help people connect, their accessibility and digital format have also created new risks, unfortunately. | ||
| The FTC Federal Trade Commission reported that romance scams lost victims $1.3 billion in 2022. | ||
| I have constituents that were victims, unfortunately. | ||
| Many of those affected were elderly individuals who lost their retirement savings. | ||
| What a shame. | ||
| By requiring a fraud ban notification, we can put a stop to these senseless scams and protect vulnerable consumers. | ||
| I urge my colleagues to join me in voting in favor of H.R. 2481, and I'll reserve the balance of my time, Mr. Speaker. | ||
| Gentleman Reserves, the gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| The gentleman is recognized. | ||
| So, Mr. Speaker, I rise to speak in support of H.R. 2481, the Romance Scam Prevention Act. | ||
| As more consumers report using online dating services, it's important that they are made aware of potential harms. | ||
| This bill ensures that when an online dating service bans a user for fraud, it notifies all the other users who have been in contact with that banned person on the service. | ||
| And this will help to reduce the number of people who fall victim to identified fraudsters looking to extort money from dating app users. | ||
| This bill is an important first step in addressing harm in the online dating space. | ||
| However, there is a lot more to be done, and vulnerable consumers need a strong and independent Federal Trade Commission to prosecute fraudsters and scammers and to protect them from having their emotions exploited for financial gain. | ||
| I encourage my Republican colleagues to support this legislation, as well as a bipartisan FTC that ensures consumer protection measures like this one are fully and fairly enforced for all Americans. | ||
| And again, I want to thank Representatives Peterson and Valedeo for their leadership on this legislation. | ||
| I urge my colleagues to support this bill, and I reserve the balance of my time. | ||
| The gentleman in reserves, the gentleman from Florida, is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I actually yield as much time as you may consume to a very effective member of Congress from the great state of California, Mr. Valedeo. | ||
| Gentleman is recognized. | ||
|
unidentified
|
Thank you, Mr. Speaker. | |
| I rise to urge support for my bill, the Romance Scam Prevention Act. | ||
| Every year, millions of Americans from all ages and backgrounds use dating apps and websites to make connections. | ||
| For many, online dating has made it easier to build relationships. | ||
| But unfortunately, there are countless stories of criminals using these sites for fraudulent activity. | ||
| While it's sadly common to see users lie about things like their age and occupation, romance scammers use fake profiles to develop connections and emotionally or financially exploit unsuspecting users. | ||
| According to the Federal Trade Commission, Americans lost over $1.1 billion in 2023 alone, with senior citizens being the most at-risk age group. | ||
| There have been countless stories of people being conned out of their entire life savings, all because they believed they had found love online. | ||
| People who meet online often take their conversations to other communication platforms and might not know that they are talking to someone who has been removed from the original dating app. | ||
| This bill requires dating platforms to issue fraud ban notifications to users who have interacted with an account who has been removed for fraudulent activity. | ||
| As criminals are becoming more sophisticated when it comes to exploiting victims online, it's time to put safeguards in place to protect users from financial fraud. | ||
| I want to thank Chairman Guthrie and his staff at the Committee on Energy and Commerce for their work on this important bill, as well as my co-leads, Representative Brittany Peterson, Tom Swazi, and Craig Goldman. | ||
| Thank you, and I yield back. | ||
| I'll reserve, Mr. Speaker. | ||
| Gentleman in Reserves, the gentleman from New Jersey is recognized. | ||
| Mr. Chairman, I have no additional speakers. | ||
| I have no additional speakers. | ||
| And I'll just close by saying that I do think this is an important bill to avoid fraud. | ||
| I'm very concerned about fraud on these dating service apps. | ||
| So I commend Mr. Valdeo for bringing this forward. | ||
| And I'd urge everyone to support the bill. | ||
|
unidentified
|
I yield back. | |
| The gentleman yields. | ||
| The gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| In closing, I urge a yes vote on this particular bill, and I'll yield back the balance of my time. | ||
|
Encouraging Foreign Investment for American Jobs
00:08:56
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||
| Thank you. | ||
| Gentleman yields. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 2481? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentleman from Florida seek recognition? | ||
| Mr. Speaker, I move that the House suspend the rules and pass the bill H.R. 1679. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 122, H.R. 1679, a bill to direct the Secretary of Commerce, in coordination with the heads of other relevant federal departments and agencies, to conduct an interagency review of and report to Congress on ways to increase the global competitiveness of the United States in attracting foreign direct investment. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Billarakis, and the gentleman from New Jersey, Mr. Pallone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Mr. Speaker, I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on this particular bill. | ||
| Without objection. | ||
| Thank you. | ||
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
|
unidentified
|
Thank you. | |
| Thank you, Mr. Speaker. | ||
| I rise today in support of H.R. 1679, the Global Investments in American Jobs Act of 2025. | ||
| And this is led by my good friend, a very effective member of Congress, Representative Evans. | ||
| This bill directs the Secretary of Commerce and the Comptroller General to conduct a review and report on ways to increase and attract foreign direct investment or FDI from trusted countries. | ||
| The United States is currently a global leader in deployment of emerging technologies such as artificial intelligence, autonomous vehicles, blockchain, and many more. | ||
| To maintain that leadership, we must continue to foster an environment that encourages our allies and trusted global partners to invest here at home. | ||
| By removing barriers and showing the world that the U.S. is the premier destination for investment, innovation, manufacturing, and deployment, the U.S. will cement itself as the global leader of the new age of technological advancements. | ||
| So I urge my colleagues to join me in favor of this particular bill, H.R. 1679, and I reserve the balance of my time. | ||
| Gentleman Reserves, the gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| The gentleman is recognized. | ||
| Mr. Speaker, I rise to speak in support of H.R. 1679, the Global Investments in American Jobs Act. | ||
| This legislation will encourage foreign direct investment to support high-quality American jobs. | ||
| Foreign direct investment from non-adversarial nations can be used to grow critical sectors important for our economic success and national security, including by creating new jobs in our nation's manufacturing sector. | ||
| Once the envy of the world, our manufacturing base has faced steady headwinds for the last several decades. | ||
| Our nation's share of global manufacturing activity declined from 28 percent in 2002 to just over 17 percent in 2020. | ||
| Investment in America's small and medium manufacturers, the bedrock of our industrial might, has also declined over the last 20 years by more than $200 billion. | ||
| And in that same two-decade period, our domestic manufacturing base has shed more than 4 million jobs. | ||
| It's time to reverse these trends by revitalizing our nation's manufacturing industry and bringing jobs back home. | ||
| The work we did under the Biden administration passing the bipartisan infrastructure law, the Inflation Reduction Act, and the Chips and Science Act is already helping to turn the tide. | ||
| But I am concerned that actions by the Trump administration are putting this great success at risk. | ||
| Attempts to claw back these historic investments in our manufacturing sector, unstable and erratic tariff policies, and mass elimination of trusted federal programs of partners put American businesses at a disadvantage. | ||
| All of these actions by the Trump administration are detrimental to our ability to compete globally. | ||
| And I encourage my Republican colleagues to stand up for American businesses, large and small, against the chaotic actions of this administration. | ||
| Now, foreign direct investment can be part of the solution to revitalize American manufacturing and job creation. | ||
| Over a third of all foreign direct investments are in domestic manufacturing, exceeding a total of $120 billion a year. | ||
| This bill will help ensure we keep that flow of investment strong and that such investments support quality, good-paying jobs right here at home. | ||
| But it must be coupled with federal trade policies coming from the White House and this Congress that encourage stability in the marketplace, protect our relationships with close trading partners, and lower costs for American families. | ||
| So I want to commend Representatives Kelly and Evans for their leadership on this issue. | ||
| I urge my colleagues to support this legislation, and I reserve the balance of my time, Mr. Speaker. | ||
| Gentlemen, Reserves, a gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield as much time as he may consume to the gentleman, a true public servant from the state of Colorado, Mr. Evans. | ||
| You're recognized, sir. | ||
| The gentleman is recognized. | ||
|
unidentified
|
Mr. Speaker, today I rise in strong support of my bipartisan bill, the Global Investment in American Jobs Act. | |
| This is a critical piece of legislation that will help bolster American competitiveness in the face of increasing economic aggression from the Chinese Communist Party, all while helping to create jobs in my home state of Colorado and all across the nation. | ||
| First and foremost, I'd like to extend my gratitude to the gentlelady from Illinois, Representative Kelly, for helping to introduce this bill with me. | ||
| I'm proud to work with her in a bipartisan fashion to advance this bill first through the Energy and Commerce Committee and now onto the House floor. | ||
| In Colorado alone, there are more than 126,000 workers that are the direct result of foreign direct investment. | ||
| Of these workers, 31 percent work in manufacturing roles. | ||
| These jobs, like other good blue-collar jobs in my district, provide stable, good-paying careers to constituents to help provide for their families. | ||
| Oftentimes, these jobs are obtainable to folks with a high school degree after a quick and affordable career technical education course. | ||
| My bill tasks the Secretary of Commerce with conducting an interagency review to help create a more favorable environment for foreign direct investment, ultimately boosting our economy and benefiting American workers. | ||
| International companies are beginning to recognize what most of us have known for decades. | ||
| The American worker is among the most talented in the world. | ||
| Whether it's energy, technology, or chemicals, Americans produce some of the highest quality products in the cleanest, most efficient, and socially responsible ways possible. | ||
| With the resurgence in America's manufacturing industry, global investors are now clamoring to pump money into emerging industries in the U.S. | ||
| But Congress needs to ensure that we as a nation are striking the right approach in courting international companies and facilitating responsible investments. | ||
| This legislation doesn't just help create good-paying jobs. | ||
| It also helps to ensure that America remains competitive with the Chinese Communist Party by retaining our technological advantage in research and development. | ||
| International employers in the U.S. account for more than $80 billion in research and development. | ||
| With this bill, Congress can take a major step in seeing this number increase over the coming years. | ||
| And this isn't just something that we should consider doing. | ||
| It's necessary. | ||
| In the face of increasingly unscrupulous tactics from the Chinese Communist Party, such as rampant intellectual property theft, corporate espionage, the use of slave labor, and environmentally reckless energy practices, it's imperative for the United States to leverage every available tool to bolster American industry, such as this bill. | ||
| I urge my colleagues to join me in supporting the Global Investment in American Jobs Act to maintain Americans' competitive edge, invest in our domestic talent, bring more jobs home, and drive innovation to usher in the next era of manufacturing dominance in the United States. | ||
|
Supporting the Awning Safety Act
00:15:51
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|
unidentified
|
Thank you and yield back. | |
| Gentleman from Florida is recognized. | ||
| Hi, Reserve. | ||
| Gentlemen from Florida Reserves, gentlemen from New Jersey is recognized. | ||
| Mr. Chairman, I have no additional speakers. | ||
| I have no additional speakers. | ||
| Prepared, close. | ||
| Yes. | ||
| New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| I know that in my district foreign direct investment is important in creating jobs. | ||
| And so I would certainly say that nationally this is an important piece of legislation. | ||
| And for that reason, I would urge my colleagues to support it and yield back the balance of my time. | ||
| Gentlemen from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| In closing, I encourage a yes vote on this particular bill. | ||
| And I'll yield back the balance of my time as well. | ||
| The gentleman yields. | ||
| The question is: will the House suspend the rules and pass the bill H.R. 1679? | ||
| Those in favor say aye. | ||
|
unidentified
|
Aye. | |
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentleman from Florida seek recognition? | ||
| Mr. Speaker, I urge that the House suspend the rules and pass the bill H.R. 2269. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 120, H.R. 2269. | ||
| A bill to require certain products to be labeled with do-not-flush labeling and for other purposes. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Billarakis, and the gentleman from New Jersey, Mr. Pallone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on this particular bill. | ||
| Without objection. | ||
| Thank you, Mr. Speaker. | ||
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| Thank you. | ||
| Thank you. | ||
| I rise today in support of H.R. 2269, the Wastewater Infrastructure Pollution Prevention and Environmental Safety Act, or the WIPES Act, led by Representative McClain. | ||
| The bipartisan bill, it's a bicameral legislation, and it mandates wet wipe manufacturers to label their products as non-flushable. | ||
| In doing so, it will provide consumers with clearer guidance, thereby saving local water utilities millions of dollars a year from preventable sewer blockages. | ||
| I appreciate Representative McLean, Chairperson McLean, her efforts to advance the WIPES Act, along with Senator Markey Merkley, excuse me, and Representative Mullen. | ||
| So I urge my colleagues to pass this particular bill, H.R. 2269, and I'll yield back the balance of my time. | ||
| Gentlemen Reserves, the gentleman from New Jersey is recognized. | ||
| Mr. Speaker, I yield myself such time as I may consume. | ||
| Gentleman is recognized. | ||
| Thank you, Mr. Speaker, and I rise to speak in support of H.R. 2269, the Wipes Act. | ||
| The improper disposal of non-flushable wipes can damage plumbing and lead to environmental contamination and pollution. | ||
| Environmentalists from across the country have expressed the need for manufacturers to clearly label their wet wipe products so consumers know how to properly dispose of them. | ||
| Now, this bill ensures that white manufacturers and other covered entities clearly and conspicuously label non-flushable wipes as just that. | ||
| By requiring these labels on the packaging of all non-flushable wipes, this bill will help ensure our plumbing and wastewater treatment facilities do not break down as a result of these wipes. | ||
| But the implementation and enforcement of this bill requires a strong independent and bipartisan Federal Trade Commission. | ||
| House Republicans have stood by in silence as this critical agency is being compromised by President Trump's illegal attempts to remove the two Democratic commissioners from their posts, undermining the legitimacy and transparency of the FTC. | ||
| I urge my Republican colleagues to stand up for the two representatives, or I should say for the restoration of an independent FTC to ensure this bill and the many others that are tasked with implementing are fully effective and enforced without fear or favor. | ||
| We need a strong FTC. | ||
| So I commend Representatives Mullen and McLean for their leadership on this issue, and I urge all of my colleagues to support this bill. | ||
| And with that, I reserve the balance of my time, Mr. Speaker. | ||
| Gentlemen Reserves, a gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield as much time as she may consume to Chairperson McLean. | ||
| Yes, please. | ||
| Gentlewoman is recognized. | ||
| Thank you, Mr. Billarakis. | ||
| Thank you, Mr. Speaker. | ||
| I rise today to urge support for my bill, the Wastewater Infrastructure Pollution Prevention and Environmental Safety Act, better known as the WIPES Act. | ||
| This common sense, bipartisan bill addresses a costly and growing problem in our communities. | ||
| Every year, Michigander's water utilities spend over $18 million responding to clogs and damage caused by non-flushable wipes. | ||
| These products, when disposed of incorrectly, create massive blockages in our wastewater systems, which leads to backup environmental hazards, costly repairs, and ultimately higher rates for our constituents. | ||
| The solution is simple, clear, honest labeling. | ||
| This bill does not ban wipes. | ||
| It does not burden small businesses. | ||
| It simply requires manufacturers to label packaging for wipes that aren't designed to be flushed. | ||
| This legislation isn't just about preventing clogged pipes. | ||
| It's about protecting taxpayer dollars and ensuring our infrastructure can last for years to come. | ||
| The WIPES Act passed the House last Congress with overwhelming bipartisan support. | ||
| And I'm proud to lead this legislation alongside Congressman Kevin Mullen, again this Congress, and call on the Senate to take it up. | ||
| Functioning infrastructure and lower utility costs are not partisan issues. | ||
| They're priorities we should all share. | ||
| Let's pass the WIPESATS WIPES Act and give our local public works departments, utilities and consumers the tools they need to keep our system flowing and our communities safe. | ||
| Thank you, Mr. Speaker, and I yield back. | ||
| Gentleman from Florida is recognized. | ||
| I reserve, Mr. Speaker. | ||
| Gentleman Reserves, the gentleman from New Jersey is recognized. | ||
| Mr. Speaker, I have no additional speakers. | ||
|
unidentified
|
Congress. | |
| Gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I would urge support for this legislation. | ||
| I do think that from an environmental point of view and to protect our waste treatment facilities, this is important legislation, and I yield back the balance of my time. | ||
| Gentleman yields. | ||
| The gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| In closing, I encourage a yes vote on this particular bill, and I'll yield back the balance of my time. | ||
| Gentleman yields. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 2269? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative. | ||
| The rules are suspended. | ||
| The bill is passed. | ||
| And without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentleman from Florida seek recognition? | ||
| Mr. Speaker, I move that the House suspend the rules and pass the bill H.R. 1767. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 124, H.R. 1767, a bill to require the Consumer Product Safety Commission to promulgate a mandatory consumer product safety standard with respect to retractable awnings. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Billarakis, and the gentleman from New Jersey, Mr. Pallone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on this particular bill. | ||
| Without objection. | ||
| Thank you. | ||
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| Gentleman is recognized. | ||
| Mr. Speaker, I rise today in support of H.R. 1767, the Awning Safety Act of 2025, led by my good friend Representative Alderson. | ||
| This legislation directs the Consumer Product Safety Commission to establish a consumer product safety standard for retractable awnings to help prevent serious injuries and death. | ||
| Motorized awnings pose a known hazard to the public. | ||
| So the CPSC issued a recall covering 270,000 units following reports of injuries and one tragic death, unfortunately. | ||
| These preventable incidents occur when the tie-downs on the awning unexpectedly releases and causes the awning to strike the consumer. | ||
| Coming from the state of Florida, I know how important this is and I know how popular awnings are, but they have to be safe for consumers. | ||
| Consumers should not have to fear that their awning might suddenly spring open and cause harm. | ||
| And this bill will make sure they won't have that problem. | ||
| So I urge my colleagues to support this particular bill. | ||
| commend the primary sponsor, my good friend Mr. Balderman, Balderson, excuse me, from the great state of Ohio. | ||
| H.R. 1767 should be passed by this body, then sent over to the Senate, and I reserve the balance of my time. | ||
| Gentlemen of Reserves, the gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| The gentleman is recognized. | ||
| I rise to speak in support of H.R. 1767, the Awning Safety Act. | ||
| In 2019, the Consumer Products Safety Commission issued a recall of 270,000 motorized awnings sold in the United States that had caused six injuries and tragically one death. | ||
| While I commend the CPSC for taking action to protect Americans from this hazardous product, we must do more to ensure that awning products available to consumers are safe, regardless of brand or manufacturer. | ||
| American families should be able to enjoy the shade without fear of injury or death from the awnings that they use. | ||
| Now, the awnings safety act would require the CPSC to create a safety standard for fixed and freestanding retractable awnings. | ||
| While the CPSC has taken action through individual recalls on occasion, there is no voluntary or mandatory standard to these awnings, and injuries continue to mount. | ||
| In 2023, Dr. Michael Nat, the father of a former committee Republican staffer, and I believe that she's in the gallery today with her mother, and Dr. Knatt was tragically killed as a result of an accident involving a retractable awning. | ||
| We must act to ensure that other American families do not suffer a similar tragedy because of problems with retractable awnings. | ||
| But compliance with this bill depends on the existence of a strong, bipartisan, and independent CPSC to protect Americans from unsafe products. | ||
| At the same time as my Republican colleagues praise this bill, they have continued to remain silent on President Trump's willingness to risk the safety of American children and families by attempting to unlawfully remove Democratic CPSC commissioners and planning to eliminate the CPSC altogether. | ||
| I am pleased the district court recently upheld the law and reinstated the three Democratic commissioners to their posts, but the Trump administration is fighting that ruling. | ||
| So I remain deeply concerned about this administration's attempts to eradicate the independence of the CPSC and other independent agencies like the CPSC. | ||
| But I strongly oppose the Trump administration's ongoing plans to fold the CPSC's mission into the Department of Health and Human Services with a smaller budget, fewer expert staff, and a narrower mission. | ||
| American consumers deserve to have peace of mind that the products we bring into their homes are safe. | ||
| And so I commend Representatives Castor and Balderson for their work and leadership on this issue and urge my colleagues to support H.R. 1767, the Awning Safety Act. | ||
| And I reserve the balance of my time, Mr. Speaker. | ||
| Thank you, Mr. Speaker. | ||
| I yield as much time as you may consume to my good friend, Mr. Balderson. | ||
| The gentleman is recognized. | ||
|
unidentified
|
Thank you, Mr. Speaker, and thank you, Chairman Billarakis. | |
| I rise today in support of my bill, the Awning Safety Act, which aims to enhance the safety of awnings commonly found in Ohio homes and households across the nation. | ||
| A retractable awning can serve as a valuable source of shade and a gathering spot for families and friends. | ||
| However, they can pose a significant risk to consumers. | ||
| This legislation directs the Consumer Product Safety Commission to establish safety standards for fixed and free loading yawnings typically installed in homes. | ||
| My energy and commerce colleagues and I learned of the serious risks surrounding yawnings when tragically struck the family of Olivia Shields, a staff member for the committee at the time. | ||
| As Ranking Member Pallone said, her and her family are in the gallery today. | ||
| Her father, Michael Natt, was carrying out a routine household task of taking down the retractable awning from the family home in Ohio. | ||
| He was on the ladder when the spring-loaded arm of the awning unexpectedly shot out at him, forcing his ladder to tip and causing him to fall. | ||
| Michael suffered a severe spinal cord injury, and despite efforts to save him, excuse me, he tragically passed away a few days later. | ||
| His passing affected his family profoundly and reverberated throughout the community he touched. | ||
| Michael was renowned for his kindness, generosity. | ||
| I apologize. | ||
| Oh, right, wrong pipe. | ||
| Michael was renowned for his kindness, generosity, and selfless other, often going above and beyond to help others in need. | ||
| He was a devoted family man, cherished husband to Jill, and loving father to their children, and Lisa, Olivia, Abbey, Schimus, Emma, his son-in-laws, and grandchildren. | ||
| Thank you. | ||
| Michael, ultimately, Michael's ultimate death underscores the importance of ensuring the safety of household products like awnings. | ||
| By passing this legislation today, we can prevent further tragedies. | ||
| Thank you, Mr. Speaker, and I yield back. | ||
|
Promoting U.S. Blockchain Competitiveness
00:06:48
|
||
| The gentleman from Florida is recognized. | ||
| I reserve. | ||
| Gentlemen of Reserves, the gentleman from New Jersey is recognized. | ||
| I have no additional speaker. | ||
| I have no additional speaker. | ||
|
unidentified
|
Thank you. | |
| Gentleman from New Jersey is recognized. | ||
| Mr. Speaker, obviously, this is an important bill from a consumer safety point of view. | ||
| I would urge all my colleagues to support and yield back the balance of my time. | ||
| Gentleman yields. | ||
| The gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I'm proud to support this particular piece of legislation in memory of Dr. Michael Nat, a cherished part of the Energy and Commerce family who tragically lost his life, as was able to said, in an awning accident. | ||
| I want to thank his family for joining us here today. | ||
| So let's pass this good bill in his memory, and I'll yield back the balance of my time. | ||
| The gentleman yields. | ||
| The question is: will the House suspend the rules and pass the bill H.R. 1767? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative. | ||
| The rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| Does the gentleman from Florida seek recognition? | ||
| Thank you, Mr. Speaker. | ||
| I move that the House suspend the rules and pass the bill H.R. 1664 as amended. | ||
| The clerk will report the title of the bill. | ||
| H.R. 1664, a bill to direct the Secretary of Commerce to take actions necessary and appropriate to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology and for other purposes. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Billarakis, and the gentleman from New Jersey, Mr. Pallone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on this particular bill. | ||
| Without objection. | ||
|
unidentified
|
Thank you. | |
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| Thank you. | ||
| I rise today in support of H.R. 1664, the Deploying American Blockchains Act of 2025, championed by my good friend and fellow Florida Gator, Representative Kamack. | ||
| This legislation directs the Secretary of Commerce to take necessary actions to promote the competitiveness of the United States in the development and application of blockchain technology. | ||
| Blockchain technology has the potential to revolutionize the industries by enhancing security, transparency, and efficiency. | ||
| Whether it's used as a privacy enhancement technology, a supply chain management tool, or as a method to provide a secure ledger to enhance data security, blockchain can usher in a new era in American technological leadership. | ||
| By fostering innovation and establishing best practices, this bill positions the United States as a leader in blockchain technology, driving economic growth and technological advancement. | ||
| So I urge my colleagues to join me in passing this very good bill, primarily sponsored by my good friend, again, Ms. Kamack from the state of Florida. | ||
| So let's get this done. | ||
| Again, H.R. 1664, I reserve the balance of my time. | ||
| Gentleman Reserves, the gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| The gentleman is recognized. | ||
| Mr. Speaker, I rise in support of H.R. 1664, the Deploying American Blockchains Act. | ||
| For decades, our nation's technological leadership has helped build the largest, most dynamic economy in the world. | ||
| But we must continue working to ensure that we out-compete the rest of the world because the economic or our economic rivals are trying to close the gap. | ||
| This legislation commissions the Department of Commerce to support the leadership of the United States with respect to blockchain technology, which may have useful applications for supply chain monitoring, data security, and financial transactions. | ||
| Investments that strengthen the ability of American industry to realize the benefits of new technology are essential to our global competitiveness. | ||
| I'm very mindful, Mr. Speaker, that the chaos of the Trump administration is undermining U.S. leadership in technology development and deployment. | ||
| If my Republican colleagues are sincere in their desire to win the race to adopt advanced technologies, they will start to speak up rather than quietly stand by while the Trump administration recklessly cuts critical Federal research programs, engages in mass firings of crucial experts, and engages in wild swings in national trade policy from week to week. | ||
| House Democrats have shown our commitment to American technological leadership. | ||
| The Chips and Science Act, for example, makes transformational investments in research and development, science and technology, and the workforce of the future. | ||
| It will help us maintain our nation's leadership in the industries of tomorrow, including nanotechnology, clean energy, quantum computing, and artificial intelligence. | ||
| The Chips and Science Act is already making a huge difference, but we must build on this success rather than tear it down. | ||
| One other thing to note is that this bill should already be law. | ||
| It was agreed to last year as part of a bipartisan, bicameral legislative package that was set to be passed and signed into law in December before Elon Musk killed the agreement. | ||
| That package included important provisions that would have lowered costs for hardworking Americans, but instead of passing it and sending it to the President's S to be signed into law, my Republican colleagues caved to outside pressure from Elon Musk. | ||
| But I do want to commend Representative Camerack and Soto for their leadership on this issue. | ||
| This is an important bill, and I encourage all my colleagues to support this legislation on a bipartisan basis. | ||
| And with that, I reserve the balance of my time. | ||
| Gentleman Reserves, the chair will receive a message. | ||
|
unidentified
|
Mr. Speaker, messages from the Senate. | |
| Mr. Speaker. | ||
| Madam Secretary. | ||
|
unidentified
|
I have been directed by the Senate to inform the House that the Senate has passed without amendment H.R. 2215, an act to redesignate the Salem Maritime National Historic Site as the Salem Maritime National Historical Park and for the purposes. | |
|
Deploying American Blockchains Act
00:03:46
|
||
| The gentleman from Florida is recognized. | ||
| Thank you. | ||
| Mr. Speaker, I yield time, as much time as she may consume, to one of the most hardworking members of Congress, my good friend Ms. Cammick. | ||
| The gentlewoman is recognized. | ||
| Thank you, Mr. Speaker, and thank you, Mr. Chairman, for your steadfast support and to the Ranking Member as well for his support. | ||
| I rise today in support of H.R. 1664, the Deploying American Blockchains Act of 2025, bipartisan legislation that I'm proud to lead alongside my colleague, Representative Darren Soto. | ||
| This bill is about far more than emerging technology. | ||
| It's about securing America's future economically, strategically, and technologically in an increasing digital world. | ||
| Blockchain technology is not a passing trend. | ||
| It is a foundational innovation that is reshaping how we think about security, identity, data integrity, and commerce. | ||
| From supply chains and finance to health care and identity management, blockchain is transforming the way our systems function. | ||
| But, Mr. Speaker, we are at a crossroads. | ||
| While American entrepreneurs and technologists are ready to lead, they're operating in an environment filled with uncertainty. | ||
| Too many innovators in this space face unclear rules, inconsistent federal policies, and outdated frameworks that push investment and opportunities overseas. | ||
| Meanwhile, nations like China are investing heavily in blockchain infrastructure and making it clear that their intent is to control the digital rails of the future. | ||
| We cannot afford to fall behind. | ||
| American values of freedom, transparency, and accountability must guide the development of the next generation of digital infrastructure. | ||
| That is what this bill ensures. | ||
| The Deploying American Blockchains Act takes a strategic, thoughtful approach by directing the Commerce Department to lead a federal government blockchain effort. | ||
| The department will advise the President, establish a blockchain deployment program, and ensure that the United States remains competitive in the development and application of this critical technology. | ||
| Importantly, it affirms that blockchain is not just a buzzword. | ||
| It is the backbone of next generation innovations in areas like supply chain security, smart contracts, digital identity, and fraud prevention. | ||
| These applications aren't just theoretical. | ||
| They are being deployed right now across sectors of the entire American economy. | ||
| And if we fail to lead, others will step in to define the rules of the road. | ||
| It sends a powerful message to our allies and adversaries alike. | ||
| America intends to lead. | ||
| We will lead. | ||
| We will build, not just consume. | ||
| We intend to shape the global standards for digital trust and transparency, and we will not allow authoritarian regimes to do so in our absence. | ||
| This bill is about leadership. | ||
| It's about economic opportunity, and it's about protecting our American interests and ensuring that our technological edge continues to serve the people, our values, and our future. | ||
| I urge my colleagues on both sides of the aisle to join me in supporting this common sense legislation. | ||
| Together, we can keep America at the forefront of innovation and ensure that our digital future is one defined by liberty, accountability, and American leadership. | ||
| With that, I yield back. | ||
| The gentleman from Florida is recognized. | ||
| I reserve. | ||
| The gentleman in reserves, the gentleman from New Jersey is recognized. | ||
| I have no additional speakers. | ||
| No additional speakers. | ||
|
Charlotte's Legacy
00:15:54
|
||
| Gentlemen from New Jersey is recognized. | ||
| I would urge support for this bill on a bipartisan basis. | ||
| I yield back the balance of my time, Mr. Speaker. | ||
| Gentleman yields. | ||
| The gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| In closing, I encourage a yes vote on this particular bill, and I yield back the balance of my time. | ||
| Gentleman yields. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 1664 as amended? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| Does the gentleman from Florida seek recognition? | ||
| Mr. Speaker, I move that the House suspend the rules and pass the bill H.R. 1520. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 126, H.R. 1520, a bill to prohibit discrimination on the basis of mental or physical disability in cases of organ transplants. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Billarakis, and the gentleman from New Jersey, Mr. Pallone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on this particular bill. | ||
| Without objection. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself as much time as I may consume. | ||
| Gentleman is recognized. | ||
| Thank you. | ||
| I rise today in strong support of H.R. 1520, the Charlotte Woodward Organ Transplant Discrimination Prevention Act, led by my good friend Ms. Kamack. | ||
| She's on a roll. | ||
| This legislation prohibits health care providers and other entities from denying an individual's access to organ transplants based solely on the basis of individuals' disability. | ||
| According to the National Council on Disability, such denials are usually based on assumption regarding the patient's quality of life and misinterpretations surrounding the ability of these individuals to comply with post-operative care. | ||
| Though existing federal laws prohibit organ transplant centers from discriminating on the basis of disability, there is limited enforcement and a lack of federal guidance to ensure patients are protected. | ||
| No one should be denied access to an organ transplant just because they have a disability. | ||
| H.R. 1520 clarifies that individuals with disabilities shall not be denied an organ transplant or related services based solely on the individual's disability and includes an expedited review and enforcement mechanism through the Department of Health and Human Services Office of Civil Rights. | ||
| This is a must-pass bill and we must protect, we must protect individuals, our constituents, and in some cases family members with disabilities. | ||
| They should not be discriminated against. | ||
| So I urge my colleagues to join me in voting in favor of H.R. 1520 and I'll reserve the balance of my time. | ||
| Gentleman reserves. | ||
| The gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| Gentleman is recognized. | ||
| And Mr. Speaker, I rise in support of H.R. 1520, the Charlotte Woodward Organ Transplant Discrimination Prevention Act. | ||
| This bill prohibits people who are eligible for a life-saving organ transplant from being denied the transplant based solely on their disability status. | ||
| Existing federal laws, including the Americans with Disabilities Act, the Rehabilitation Act, and the Affordable Care Act, already prohibit organ transplant centers from discriminating based solely on disability. | ||
| However, there are still cases where people with disabilities have been denied access to organ transplants. | ||
| And this is often because of misperceptions about how a disability impacts the medical likelihood of transplant success or unfound assumptions regarding people with disabilities' ability to comply with post-operative care. | ||
| This bill prohibits covered entities from determining that an individual is ineligible to receive a transplant based solely on the fact that the individual has a disability. | ||
| The legislation also acknowledges the importance of support networks and services in helping with post-operative care. | ||
| Organ transplants, Mr. Speaker, as you know, save lives, and it's important that the system is free from discrimination. | ||
| I'm pleased that we are taking this step to clarify and build upon existing civil rights protections for people with disabilities. | ||
| However, I am concerned that ongoing cuts at the Department of Health and Human Services will limit the effectiveness of this bill. | ||
| H.R. 1520 instructs the Office of Civil Rights to enforce the discrimination protections included in the bill. | ||
| However, the Trump administration is not only proposing to eliminate the Office of Civil Rights as an independent agency, but it has fired some of the office's staff. | ||
| The final number of staff who have or will be eliminated is unclear because the Department has refused to be transparent with Congress on the number of employees who have been terminated. | ||
| The Office of Civil Rights is already understaffed and underfunded, which has created a backlog of cases. | ||
| If my Republican colleagues truly care about the proper implementation of this bill, they will join me in conducting oversight of the Trump administration's rampant cuts at HHS and the Office of Civil Rights. | ||
| So I'd like to thank Representative Dingell and also Representative Kamack for their work on this bill. | ||
| It's very important. | ||
| And I encourage all of my colleagues to vote yes on H.R. 1520, and I reserve the balance of my time. | ||
| Gentleman Reserves, a gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield as much time as she may consume to Representative Camack. | ||
| Gentleman is recognized. | ||
| Well, thank you, Mr. Speaker, and thank you again, Mr. Chairman, for your leadership. | ||
| I rise today in strong support of H.R. 1520, the Charlotte Woodward Organ Transplant Discrimination Prevention Act. | ||
| This legislation is deeply personal for many families across the United States. | ||
| Families who have experienced unimaginable pain and loss simply because their loved ones had a disability. | ||
| One of those families is from my district in Ocala, Florida, Bobby and Josh Saramentino. | ||
| Their infant son, baby Zion, was born with Down syndrome and in need of a heart transplant. | ||
| At just six months old, Zion was denied that chance. | ||
| The doctors told the parents, Bobby and Josh, that his life, baby Zion's life, wasn't worth the heart, that it couldn't, quote, be wasted on a child with a disability. | ||
| That is not just wrong, it is inhumane, and it should never, ever happen again. | ||
| This bill that we consider here today is named after Charlotte Woodward, a remarkable woman with Down syndrome who herself received a life-saving heart transplant over a decade ago. | ||
| Charlotte's story is a living, breathing testament to the truth that we must affirm here today, that every life, regardless of disability, has value potential. | ||
| I am so pleased to announce that Charlotte is with us here today in the gallery, and I want to recognize you, Charlotte, and thank you for all that you do. | ||
| H.R. 1520 ensures that individuals with disabilities are not discriminated against in organ transplant eligibility. | ||
| It gives families a mechanism for timely intervention, oftentimes time that families just don't have, through the Department of Health and Human Services when medical decisions are clouded by bias rather than compassion and science. | ||
| I am proud to once again work with my colleague and friend, Congresswoman Debbie Dingell, in advancing this bipartisan effort. | ||
| This bill passed overwhelmingly in the last Congress, and I am confident that this body will once again do what is right. | ||
| I urge my colleagues to support this bill and fight for life. | ||
| I yield back the balance of my time. | ||
| Thank you, Mr. Speaker. | ||
| The chair reminds members that the rules do not allow references to persons in the gallery. | ||
| The gentleman from Florida is recognized. | ||
| High Reserve. | ||
| Gentleman in Reserves, the gentleman from New Jersey is recognized. | ||
| Mr. Speaker, I yield such time as she may consume to the gentlewoman from Michigan, Ms. Dingle, a member of our committee. | ||
| The gentlewoman is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I rise today to share my strong support for H.R. 1520, the Charlotte Woodward Organ Transplant Discrimination Act. | ||
| As co-chair of the Bipartisan Disabilities Caucus, I am proud to co-lead the Charlotte Woodward Organ Transplant Discrimination Prevention Act alongside my colleague, Representative Kat Kamack. | ||
| I thank her for her partnership on this vital bill. | ||
| Named after the incredible young woman you just met, I came out here looking for her because she's all, I've said to Frank months, years ago, Frank, she'll be in the committee. | ||
| She is the living energy of somebody who knew that something had to be done, and Charlotte is just always there. | ||
| And her energy is going to get this issue righted. | ||
| She's been the bill's biggest supporter, sitting time and time again, but going to meeting members and telling her story in her tremendous work. | ||
| For those who don't know her story, it's been mentioned Charlotte was born with Down syndrome and a heart condition. | ||
| Due to this heart condition, she underwent, successfully underwent a life-saving heart transplant in 2012. | ||
| In the years since, she's become the advocate we all know, sharing her story to educate and advocate for others with disabilities. | ||
| In her honor, this important bill prohibits discrimination against people with disabilities in the organ transplant system. | ||
| Specifically, it prohibits eligible individuals from being denied a life-saving transplant procedure based solely on their disability status. | ||
| It is unthinkable that people with disabilities are passed over for life-saving transplants based on discriminatory and subjective assumptions about their ability to comply with post-operative care. | ||
| With this legislation, we can take action and ensure that all Americans, regardless of their disability status, receive equitable access to the care they need. | ||
| I thank the Energy and Commerce Chair Guthrie and Ranking Member Pallone for fighting with us for this important piece of legislation. | ||
| And again, I want to thank Representative Kamack for being such a great bipartisan partner. | ||
| I urge all of my colleagues to support this important bill. | ||
| Thank you, Mr. Speaker, and I yield back. | ||
| Gentleman from New Jersey is recognized. | ||
| I reserve. | ||
| Thank you. | ||
| Gentleman Reserves, gentlemen from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield as much time as you may consume to the chairman of the Health Subcommittee under Energy and Commerce, Mr. Carter. | ||
| Gentleman is recognized. | ||
| I thank the gentleman for yielding. | ||
| Mr. Speaker, I rise today in strong support of the Charlotte Woodward Organ Transplant Discrimination Prevention Act, which prohibits discrimination against people with disabilities in the organ transplant system. | ||
| This bill prohibits covered entities from determining that an individual is ineligible to receive a transplant or denying a transplant based solely on the fact that the individual has a disability. | ||
| The bill is named after Charlotte Woodward, an advocate with Down syndrome who received a life-saving heart transplant a decade ago. | ||
| Since then, she has advocated tirelessly to ensure others living with Down syndrome and other disabilities have the same access to life-saving care that she did. | ||
| Unfortunately, there has been too many instances in which individuals with disabilities have been denied a life-saving organ transplant, and this is unacceptable. | ||
| Congress has the opportunity to help ensure individuals with disabilities are treated fairly within the organ transplant system. | ||
| No one, Mr. Speaker, no one should be denied access to an organ transplant just because they have a disability. | ||
| That's why I'm proud to support this bill, which will make sure that all Americans, no matter their disability status, will be able to receive the access to care they need and deserve. | ||
| I'd like to thank my good friends, Representative Cammick and Representative Dingell, for their leadership on this important issue. | ||
| And I urge my colleagues to support this legislation. | ||
| Thank you, Mr. Speaker, and I yield back. | ||
| The gentleman from Florida is recognized. | ||
| I reserve. | ||
| Gentlemen Reserve, gentlemen from New Jersey, is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I would yield myself such time as I may consume. | ||
| Gentleman is recognized. | ||
| Mr. Speaker, while I support this underlying legislation, and it is important legislation, I have to say that it is disappointing to see that my Republican colleagues are proceeding with this bill without a CBO score. | ||
| They are violating their own protocol, which requires a CBO score, before bringing a bill to the floor. | ||
| Over the past three years, there have been countless times that Democratic bills have been denied floor consideration because they included an increased authorization line, which is against the majority leaders' floor protocol. | ||
| It's entirely inconsistent for Republicans to deny floor consideration for an increased authorization line that has no score, but then bring a bill to the floor that could have a mandatory score. | ||
| It's the majority's responsibility to request and obtain CBO scores for bills that are planning to move. | ||
| But Republicans are changing the rules as they please. | ||
| So I'm, of course, concerned about this from a process perspective, and I encourage my Republican colleagues to follow their own rules. | ||
| I reserve the balance of my time. | ||
| Gentlemen Reserves, the gentleman from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I'm prepared to close. | ||
| Mr. Speaker, there's no cost. | ||
| There's no cost in this particular bill, and it's necessary. | ||
| And the bottom line is, folks, we cannot. | ||
| Who wants to you cannot put a price on a value of life? | ||
| As a matter of fact, no one should determine a person's quality of life as far as I'm concerned. | ||
| This bill, God bless Charlotte for advocating on behalf of this bill and, of course, my good friends Ms. Kammack and Ms. Dingle. | ||
|
Human Cell Safety Act
00:12:16
|
||
| We've got to get this done. | ||
| Time is of the essence, Mr. Speaker. | ||
| It's a responsible thing to do, and I'll yield back the balance of my time. | ||
| Gentleman yields. | ||
| The gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| Let me associate myself with the remarks that the chairman made. | ||
| This is important a bill, and I urge all my colleagues to support it, and I yield back the balance of my time. | ||
| Gentleman yields. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 1520? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentleman from Florida seek recognition? | ||
| Mr. Speaker, I move that the House suspend the rules and pass the bill H.R. 1082. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 127, H.R. 1082. | ||
| A bill to require the Secretary of Health and Human Services to conduct a national evidence-based education campaign to increase public and health care provider awareness regarding the potential risk and benefits of human cell and tissue products transplants and for other purposes. | ||
| Pursuant to the rule, the gentleman from Florida, Mr. Billarakis, and the gentleman from New Jersey, Mr. Pallone, each will control 20 minutes. | ||
| The chair recognizes the gentleman from Florida. | ||
| Thank you, Mr. Speaker. | ||
| I ask unanimous consent that all members have five legislative days in which to revise and extend their remarks and insert extraneous materials in the record on this particular bill. | ||
| Without objection. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself as much time as I may consume. | ||
| Gentleman is recognized. | ||
|
unidentified
|
Thank you. | |
| Appreciate it. | ||
| I rise today in strong support of H.R. 1082, the Chandra Isinger Human Cell and Tissue Product Safety Act, led by my good friend Chairman Molinard from the great state of Michigan. | ||
| This bill was born out of the heartbreaking tragedy that we hope will never be repeated again. | ||
| In 2023, a Michigan constituent died from tuberculosis caused by contaminated bone graft. | ||
| This bill would require the HHS Secretary to conduct a national educational campaign to increase public and health care provider awareness regarding the risks and benefits of human cell and tissue transplants. | ||
| It would also require FDA to streamline the regulatory oversight of these particular products, included by publishing educational materials and best practices and by conducting workshops and public stakeholder sessions. | ||
| Ultimately, H.R. 1082 will increase public awareness, patient safety, and public trust in these life-saving medical products to help ensure that preventable tragedies like the death, unfortunately, the death of Ms. Isinga, do not ever occur again. | ||
| This bill passed the House unanimously last December, and I look forward to timely passes. | ||
| Once again, we get it to the Senate. | ||
| Let's pass this very critical bill, H.R. 1082, and I'll reserve the balance of my time. | ||
| Gentleman Reserves, the gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield myself such time as I may consume. | ||
| Gentleman is recognized. | ||
| Mr. Speaker, I rise today in support of H.R. 1082, the Chandra-Eiseng-Izinga Human Cell and Tissue Products Safety Act, sponsored by my colleagues Representative Dingell and also Representative Molinar. | ||
| Stem cell therapies and related products have shown tremendous promise for delivering treatments to patients, such as bone marrow transplants for certain cancer patients and therapies for patients with blood and immune system disorders. | ||
| And yet there are still rogue clinics that take advantage of patients desperate for cures. | ||
| For example, there are reports of some clinics peddling unapproved treatments with exaggerated and deceptive claims. | ||
| Exposure to these unproven treatments have put vulnerable patients' health at risk, leading to serious adverse events, including blindness, bloodstream infections, paralysis, and tumor growth. | ||
| And there are currently few meaningful repercussions in the human cell and tissue products industry. | ||
| Now, this bill would change that by providing the Food and Drug Administration with additional enforcement tools to more quickly and effectively protect the public. | ||
| It provides a balanced approach to improving safety of human cell tissue and cellular and tissue-based products. | ||
| First, it provides clarity regarding FDA's scientific and regulatory efforts to oversee these products. | ||
| Second, it also enables more effective enforcement against an establishment that does not meet their donor eligibility obligations or current good tissue practice obligations. | ||
| This would also encourage responsible manufacturers to continue to develop and license products where the scientific evidence supports the product's safety, purity, and potency. | ||
| And I support this bill, Mr. Speaker, but continue to have concerns regarding the chaos at HHS broadly and FDA specifically. | ||
| While this bill provides the FDA with additional enforcement tools, the Trump administration has made massive cuts to both funding and staffing at FDA. | ||
| The President's budget doubles down on this chaos by proposing a 12 percent or 11 percent cut to the FDA budget and proposes eliminating 2,000 jobs. | ||
| This hinders the FDA's ability to actually protect the public. | ||
| And again, I call on my Republican colleagues to join me in conducting proper oversight of the Trump administration's actions. | ||
| Otherwise, bipartisan efforts like this one will be rendered meaningless. | ||
| And if we are giving the agency new statutory tools and enforcement authority because we think there's a risk to the public, then the agency must be prepared to carry out those duties. | ||
| So I encourage all my colleagues to vote yes on this important bill, and I reserve the balance of my time, Mr. Speaker. | ||
| Gentleman Reserves, the gentleman from Florida is recognized. | ||
| Mr. Speaker, I yield as much time as you may consume to my good friend, the chairman of the Select Committee on China. | ||
| I'm very proud to serve under his leadership, Mr. Molinar from the great state of Michigan. | ||
| I yield as much time as you may consume. | ||
| The gentleman is recognized. | ||
| Thank you, Mr. Speaker. | ||
| And I also want to thank the gentleman from Florida, Mr. Bill Arakas, for yielding for his strong support for this legislation. | ||
| I also want to thank my colleagues on the other side of the aisle, Mr. Pallone, and especially my friend and fellow Michigander Congresswoman Debbie Dingell, who has worked very closely with me on this legislation. | ||
| So, Mr. Speaker, I rise in support of this bipartisan legislation, H.R. 1082, the Chandra-Izinga Human Cell and Tissue Product Safety Act. | ||
| In 2023, 36 patients across seven states contracted tuberculosis after receiving bone grafts containing infected donor material. | ||
| One of these patients was my constituent, Chandra Isinga of Marianne, Michigan, who tragically passed away on August 10, 2023, due to complications from TB. | ||
| I was proud to have Chandra's family here last year when this legislation was first considered by the House. | ||
| This family has been forever hurt by the loss of Chandra. | ||
| Her daughter Amber said, nothing can erase the heartbreak of my mother's passing, but she would be proud that we have helped make a positive difference in her name. | ||
| Today, we are taking concrete action to prevent more families from having the same experience as Amber and to honor her mother's legacy. | ||
| Chandra's passing was completely preventable. | ||
| So were the deaths of nine other patients who have passed away from TB since 2021 because of inadequate oversight of tissue material suppliers. | ||
| When it comes to tissue donations, the FDA requires screening for diseases like hepatitis, syphilis, and HIV. | ||
| This bipartisan bill will require screening for tuberculosis as well and put an end to preventable TB deaths like Chandra's. | ||
| The bill will also require HHS to conduct research and public education campaigns on the risks of surgery requiring a tissue donation. | ||
| I urge my colleagues to support this vital bipartisan legislation in honor of Chandra and her family. | ||
| Thank you, Mr. Speaker, and I yield back. | ||
| Gentleman from Florida is recognized. | ||
| High Reserve. | ||
| Gentleman Reserves, gentlemen from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I yield now again to the gentlewoman from Michigan, Ms. Dingell, for such time as she may consume. | ||
| The gentlewoman is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I rise today to share my strong support of H.R. 1082, the Chandra Sengo Human Cell and Tissue Product Safety Act. | ||
| And I am very proud to lead this bill with my good friend and colleague from Michigan, Representative John Mulliner, both of us who have been very personally involved with the family and learning of where there are serious deficiencies within our government. | ||
| In the summer of 2023, I was contacted by the medical director of the Washtenaw County Tuberculosis Clinic and head of public health, who was treating Chandra for a severe post-surgical tuberculosis infection. | ||
| She was Representative Mullinar's constituent, but was being treated at a medical facility in my district. | ||
| And after a month battling a severe TB infection in the intensive care unit, Chandra unfortunately died. | ||
| Since Chandra's passing, it's been discovered that her death was indeed linked to contaminated bone graft material. | ||
| She was one of 36 patients who received material from the contaminated lot, and this latest outbreak is linked to the deaths of two patients, including Chandra. | ||
| It had been preceded two years before by an outbreak, again linked to contaminated bone allographs, and it resulted in multiple deaths. | ||
| The outbreak then affected 113 patients across 18 states, and it led to at least three confirmed TB-related deaths, with some sources citing a total of eight deaths. | ||
| This has to stop. | ||
| And too many people get bone grafts and have no idea, including the doctor that did a bone graft on me, that they even needed to worry about this. | ||
| This bill requires the Department of Health and Human Services to conduct research and education campaigns to prevent TB outbreaks caused by contaminated human cell and tissue product donations. | ||
| Through the markup process, we've also included an important provision to allow the federal government to pursue civil penalties from providers who caused an outbreak of the infectious disease. | ||
| Patients deserve to know the risks associated with tissue donations, and companies that make and distribute contaminated products must be held accountable for their actions. | ||
| I thank the Energy and Commerce Committee, Chair Guthrie, my dear friend Mr. Bill Rackas, and Ranking Member Pallone for fighting for this important piece of legislation. | ||
|
Closing Arguments
00:03:32
|
||
| And again, I want to thank Rep Molinauer for being such a great bipartisan partner. | ||
| We owe it to Chandra, her family, and every other patient who's been impacted, affected by contaminated bone grafts to ensure we're doing everything we can to prevent these unnecessary tragedies from ever happening again. | ||
| I urge my colleagues to vote yes on this important bill, and I yield back the remainder of my time. | ||
| The gentleman from New Jersey is recognized. | ||
| Gentleman Reserves, the gentleman from Florida is recognized. | ||
| You're prepared to close. | ||
| I am prepared to close. | ||
| I have no additional speakers. | ||
| The gentleman from New Jersey is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I would urge support for this important legislation on a bipartisan basis, yield back the balance of my time. | ||
| Gentleman Yields, gentlemen from Florida is recognized. | ||
| Thank you, Mr. Speaker. | ||
| In closing, I encourage a yes vote on this particular piece of legislation, and I'll yield back the balance of my time as well. | ||
| Gentleman Yields. | ||
| The question is: will the House suspend the rules and pass the bill H.R. 1082? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds are being in the affirmative. | ||
| The rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I move to suspend the rules and pass the bill H.R. 910 as amended. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 10, H.R. 910. | ||
| A bill to require the Secretary of the Treasury to pursue more equitable treatment of Taiwan at the international financial institutions and for other purposes. | ||
|
Taiwan's IMF Membership Bid
00:12:08
|
||
| Pursuant to the rule, the gentlewoman from Missouri, Mrs. Wagner, and the gentleman from California, Mr. Sherman, each will control 20 minutes. | ||
| The chair recognizes the gentlewoman from Missouri. | ||
| Mr. Speaker, I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extraneous material on this bill. | ||
| Without objection. | ||
| Mr. Speaker, I yield myself such time as I may consume. | ||
| Gentlewoman is recognized. | ||
| Mr. Speaker, I rise in support of H.R. 910, the Taiwan Non-Discrimination Act of 2025. | ||
| I would like to start by saying thank you to Representative Kim for her important work on this legislation. | ||
| Following the House's passage of this bill last Congress, Taiwan announced that it would seek membership from the International Monetary Fund, or IMF. | ||
| This is a direct result of the gentlelady's leadership on the issue, and I want to applaud her for her dedication and her efforts. | ||
| Taiwan boasts a resilient and innovation-driven economy, powered by its high-tech industries, robust financial institutions, and dynamic export sector. | ||
| The island plays a significant role in global supply chains, particularly in the semiconductor and advanced manufacturing sectors. | ||
| Yet, despite its economic strength and proven track record of responsible financial governance, Taiwan continues to be marginalized and held to a second-class standard by the IMF. | ||
| Make no mistake, Mr. Speaker, Taiwan is eligible to join the IMF, and U.S. policy has long supported Taiwan's membership in international organizations whenever possible. | ||
| Excluding Taiwan undermines the legitimacy and effectiveness of the IMF as a truly global institution in an increasingly complex world economy. | ||
| The IMF's core mission involves advising governments on economic reform. | ||
| What better society can the IMF point to when driving home the importance of good policies? | ||
| Taiwan's per capita GDP has grown more than 35 times larger since the end of the Chinese Civil War. | ||
| The island has crucial insights to offer an institution that seeks to put its borrowers on stable footing. | ||
| It is long overdue for Taiwan to receive the recognition and representation it rightfully deserves at the IMF. | ||
| I urge all my colleagues to join me in supporting H.R. 910, and I reserve the balance of my time. | ||
| The gentlewoman from Missouri Reserves, gentleman from California, is recognized. | ||
| I yield myself such time as I may consume. | ||
| The gentleman is recognized. | ||
| I rise in support of H.R. 910, the Taiwan Non-Discrimination Act of 2025, sponsored by Representative Kim from California and co-sponsored by Representative Green of Texas. | ||
| H.R. 910 requires the United States to advocate for Taiwan's membership and participation in the International Monetary Fund, also known as the IMF. | ||
| Taiwan is currently seeking to join the IMF, and I believe we should support this effort. | ||
| The IMF was formed in 1944 to encourage economic cooperation and stability after World War II. | ||
| Today, the IMF offers technical assistance related to sustainable economic growth and an international reserve to provide liquidity, among other services it provides to its member states. | ||
| It is an essential institution for security cooperation on global economic matters. | ||
| Taiwan has a big impact in the world. | ||
| Vibrant culture, delicious food, and a highly educated population. | ||
| Taiwan is also an essential economic and trade partner of the United States and so many other countries around the world. | ||
| According to the World Trade Organization, Taiwan was the 16th largest exporter and the 21st largest merchandise importer in 2023. | ||
| Those exports, especially for information and communications technology products, make Taiwan a critical partner to the United States and to our industry and workers. | ||
| Thus, it seems obvious that such a pivotal part of the global economy should not be excluded from engagement in one of our most important international financial institutions. | ||
| As H.R. 910 requires, the U.S. would be an advocate that the IMF admit Taiwan as a member, allowing the IMF to monitor and evaluate the health of Taiwan's economy, provide technical support to Taiwanese officials, and support employment opportunities at the IMF for Taiwan nationals. | ||
| Given its contribution to the global economy, Taiwan should certainly not be locked out of membership. | ||
| Not only will this benefit Taiwan, it will benefit America and the entire world economy. | ||
| It should be noted, however, that while this legislation will assist Taiwan, some Republicans are ignoring what the administration is doing that will hurt our economy and that of Taiwan. | ||
| In February 2025, in one of his first actions as president, President Trump issued an executive order seeking to withdraw the United States from several international organizations and calling for recommendations on exiting the U.S. from its membership in certain other organizations, including the IMF. | ||
| So clearly, our ability to advocate for Taiwan at the IMF to carry out the purposes of this bill is undermined by the fact that Donald Trump is examining withdrawing us from the IMF. | ||
| Setting aside the central point that the President has no authority whatsoever to withdraw the United States from international financial institutions, that review, which is due as August, of course, has not been completed. | ||
| While the IMF funding was included in the recent budget proposal, comments by the administration and the Secretary of Treasury confirm that Trump has not decided whether to try to use what powers he has as president to withdraw us from the IMF. | ||
| Most significantly, Trump has refused to reiterate the policy that the U.S. has had in place since 1979, standing with the people and security of Taiwan. | ||
| When asked if the U.S. will maintain its decades-old commitment to Taiwan, Trump has repeatedly avoided the easy answer, declaring loudly that he won't provide a direct response. | ||
| We should pass this bill, but we should also urge our President to not undermine Taiwan and not undermine the world economy by talking about withdrawing the United States from the IMF. | ||
| I urge my colleagues to support this bill, and I reserve the balance of my time. | ||
| Gentlemen, California Reserves, gentlewoman from Missouri is recognized. | ||
| Mr. Speaker, I'm pleased to yield as much time as she may consume to the gentlewoman from California, Ms. Kim. | ||
| The gentlewoman from California is recognized for as much time as she may consume. | ||
| Thank you. | ||
| I want to thank Chairwoman Wagner for yielding and supporting my legislation. | ||
| And I would also like to thank Representative Green of Texas for co-leading H.R. 910 and making this a bipartisan effort. | ||
| Mr. Speaker, I rise in strong support of my bill, H.R. 910, the Taiwan Non-Discrimination Act. | ||
| This bill is simple. | ||
| It requires the Treasury Department to advocate for Taiwan to join the International Monetary Fund, or IMF. | ||
| Unfortunately, China has consistently blocked Taiwan's participation in international forums, including IMF. | ||
| China pursues these tactics because they know that financial security is just as important as military security. | ||
| Defense experts have identified that China could exploit Taiwan's financial system by raising tariffs, short-selling stocks, and freezing bank transfers. | ||
| Joining the IMF would allow Taiwan to access resources that promote financial resilience and deter China's economic coercion. | ||
| It has been the long-standing U.S. policy towards Taiwan to support its membership in international organizations where statehood is not a prerequisite. | ||
| We must continue to advocate for Taiwan's voice to be heard where membership is not possible. | ||
| And this principle has lasted decades across the Republican and Democratic administrations, and it has repeatedly been reaffirmed in bills passed by this Congress. | ||
| So, Mr. Speaker, advocating for Taiwan's membership in the IMF will also unlock access to other international financial institutions. | ||
| The World Bank, for instance, requires members to first be a part of the IMF. | ||
| So, I urge my colleagues to vote in favor of H.R. 910 and send the Taiwanese people a strong message of solidarity and support for their democracy. | ||
| I yield the balance of my time. | ||
| Gentlewoman yields back. | ||
| The gentlewoman from Missouri. | ||
| I'm prepared to close. | ||
| Is the gentleman prepared to close? | ||
| Gentleman from California is ready. | ||
| Mr. Speaker, I have no further speakers, and I'm prepared to close. | ||
| The gentleman from California is recognized. | ||
| I yield myself so much time as I may consume. | ||
| H.R. 910 is a bipartisan bill that requires that the United States use its vote and its voice at the IMF to support Taiwan's membership. | ||
| Taiwan has been an excellent contributor to the global economy and should not be absent from organizations such as the IMF. | ||
| Congress should support this bill, and I urge my Republican colleagues not only to urge that Donald Trump carry this bill out, but also support the people of Taiwan and support the role of the IMF as we go forward. | ||
| I again recommend to my colleagues that you support this bill, and I yield back the balance of my time. | ||
| The gentleman from California yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| I recognize myself for as much time as I may consume. | ||
| In closing, Mr. Speaker, it is long overdue for Taiwan to receive the recognition and representation it rightfully deserves at the IMF. | ||
| I urge all my colleagues to join me in supporting H.R. 910, and I yield back the balance of my time. | ||
| Gentlewoman yields back. | ||
| The question is, will the House suspend the rules and pass Bill H.R. 910 as amended? | ||
| Those in favor say aye. | ||
| Opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the rules are suspended and the bill is passed. | ||
| And without objection, the motion to reconsider is laid on the table. | ||
| For what purpose, gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I move to suspend the rules and pass the bill H.R. 1713 as amended. | ||
| Clerk will report the title of the bill. | ||
| Union Calendar No. 99, H.R. 1713, a bill to amend the Defense Protection Act of 1950 to include the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States and for other purposes. | ||
|
Supporting H.R. 1713
00:13:19
|
||
| Pursuant to the rule, the gentlewoman from Missouri, Ms. Wagner, and the gentleman from California, Mr. Sherman, each will control 20 minutes. | ||
| The chair now recognizes the gentlewoman from Missouri. | ||
| Mr. Speaker, I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extraneous material on this bill. | ||
|
unidentified
|
Without objection. | |
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentlewoman is recognized. | ||
| Mr. Speaker, I rise in support of H.R. 1713, the Agriculture Risk Review Act of 2025. | ||
| I would like to start by saying thank you to Representative Lucas for his long-standing leadership on this important legislation. | ||
| Today, the United States confronts a critical issue at the intersection of national security and agriculture: foreign investment in American farmland. | ||
| The Committee on Foreign Investment in the United States, or CIFIAS, plays a vital role in safeguarding our country by reviewing foreign acquisitions that could pose risks to our national security. | ||
| Ensuring that CFIAS has the right expertise and authority to evaluate these transactions is more important than ever. | ||
| For the first time since 2007, H.R. 1713 would formally add a cabinet secretary to CIFIAS, giving the Secretary of Agriculture an official role in reviewing relevant agricultural transactions for national security risks. | ||
| CIFIA has long held jurisdiction over foreign acquisitions of agricultural businesses, including farmland and interstate commerce. | ||
| Since 2018, it has also been authorized to perform reviews of land purchases near sensitive government sites. | ||
| However, there is a need to connect the Agriculture Department's expertise, including its long-standing tracking of farmland purchases, with CIFIAS's operations. | ||
| CIFIAS could greatly benefit from the Secretary's expertise, and that is what Congressman Lucas's legislation allows. | ||
| As one of the first members of Congress to recognize this need at CFIAS, I want to applaud Representative Lucas for his foresight and his dedication in advancing this legislation. | ||
| I look forward to supporting his bill today, and I urge all my colleagues to join me in supporting H.R. 1713, and I reserve the balance of my time. | ||
| One from Missouri Reserves, the gentleman from California is recognized. | ||
| I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| I rise in support of H.R. 1713, the Agricultural Risk Review Act of 2025, sponsored by Representative Lucas. | ||
| H.R. 1713 aims to add the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States, also known as CFIAS, when there's an agricultural-related issue. | ||
| Recognizing the importance of safe food and of national security involving agriculture, H.R. 1713 also requires CFIAS to determine whether there is a national security view as necessary upon notification of the Secretary of Agriculture that agricultural land transactions could somehow affect national security. | ||
| Now, I do not want to add my voice to what I regard as alarmist voices talking about, oh my God, foreign interests, maybe even China, will buy American land. | ||
| Keep in mind that we need investment in the United States. | ||
| When the Chinese buy a high-tech company, they can take the technology that is acquired back to China. | ||
| When they buy farmland, They can't take the land back to China. | ||
| And they can't take the food back to China unless we decide to let them. | ||
| And of course, the President could step in in any kind of national emergency and prevent that. | ||
| There's discussion that the Chinese will buy a farm near a couple miles away from the main entrance to a military base. | ||
| But, of course, they could also park a car next to the military base. | ||
| They can be an Airbnb next to the military base. | ||
| They can rent a farm. | ||
| So I don't think that the purchase of farmland poses the risks that are being overblown. | ||
| I don't think China can ship our topsoil back to China, nor do I think that China can deprive Americans of the ability to eat American food. | ||
| H.R. 1713 addresses these concerns, the concerns that people do have, by providing a path for the Secretary of Agriculture to notify CPIAs when those transactions, in the opinion of the Secretary of Agriculture, do pose a threat or at least a concern. | ||
| This bill is identical to what Congress passed in 2024, but that was in an appropriations bill. | ||
| Passing again will make sure that we make this part a permanent statute. | ||
| But when we focus on the security of our agriculture, we should also note that arbitrary cuts are being made that will affect directly the poorest families in our country, particularly cutbacks to the SNAP program that provides safe nutrition to families that might otherwise go hungry. | ||
| And we also noticed that the Doge effort of Elon Musk, who apparently fortunately has retained most of his attention as private businesses, not only illegally cut millions of dollars from U.S. Department of Agriculture activities, | ||
| but would deprive the Department of Agriculture with the expertise necessary to carry out this business, this bill, and of course deprives the U.S. DA of the staff it needs to prevent the spread of foodborne disease. | ||
| So, and then finally, I think the withdrawal of the United States from the World Health Organization and illegally ending American food programs also exposes the entire world and ultimately the United States to substantial risks. | ||
| Remember that when somebody suffers from a disease abroad, that gives a chance for the disease to replicate, mutate, and then migrate back to the United States. | ||
| So I feel that H.R. 1713 does improve CPIS. | ||
| I urge my Republican colleagues also to work to protect SNAP, to protect the USDA, and to protect our efforts at global health. | ||
| I urge my colleagues to support this bill, and I reserve the balance of my time. | ||
| Gentlemen of California Reserves, gentlemen, woman from Missouri, is recognized. | ||
| Mr. Speaker, I am pleased to yield as much time as he may consume to the gentleman from Oklahoma, Mr. Lucas. | ||
| The gentleman from Oklahoma is recognized for as much time as he may consume. | ||
|
unidentified
|
Thank you, Mr. Speaker. | |
| I rise today in support of my bill, H.R. 1713, the Agricultural Risk Review Act. | ||
| My bill would make permanent the existing policy enacted under the Consolidated Appropriations Act for fiscal year 2024 and bolster our food security against foreign adversaries. | ||
| H.R. 1713 would amend the Defense Production Act to add the Secretary of Agriculture as a permanent member to the Committee on Foreign Investment in the United States, or CIFIAS, for any transactions related to the purchase of farmland, biotechnology, or any other transaction related to the agricultural industry. | ||
| My bill also includes the Safeguarding America's Farms from Foreign Influence Act, authored last Congress by the former chairman of the Financial Services Subcommittee on National Security, Mr. Luchtmeier. | ||
| That section of the bill requires CFIAS to consider referrals from USDA for reportable agricultural land transactions prior to the interagency process that determines whether a review of the transaction is warranted. | ||
| These bills received unanimous support when considered separately and then, when joined together, were also reported favorably to the floor in a unanimous vote. | ||
| These are common sense measures in line with existing practices and current law. | ||
| CFIAS mandate is to review transactions involving foreign investments in the United States to ensure such transactions do not threaten our national security. | ||
| Agriculture is too important to our country's security to be left out. | ||
| Our geopolitical adversaries are eager to exploit vulnerabilities in critical supply chains such as our food supply. | ||
| The inclusion of the Secretary of Ag in reviews of ag-related transactions is just plain common sense. | ||
| My bill has been bipartisan across administrations. | ||
| Former Ag Secretary Perdue under the first Trump administration and former Ag Secretary Vilsack under the Biden administration agreed that having a permanent seat at the table is vital to the protection of our farmland and food supply. | ||
| I'm also pleased to boast bipartisan support from the leadership of the House Financial Services Committee. | ||
| This bill has passed unanimously out of the committee for two Congresses now, and it is past time for it to become law. | ||
| From Hawaii and Washington to New York and Florida to my home state of Oklahoma, our nation's agricultural land must be protected. | ||
| That's why a bipartisan group of members from over 20 states across the country have supported me in this effort. | ||
| I'm grateful we took a positive step in the last Congress to include this language in our annual appropriations process, but we must cement this requirement in permanent law. | ||
| This legislation recognizes and supports the long-held understanding that food supply is a critical component of U.S. national security. | ||
| I urge my colleagues to join me in supporting the bill, and I yield back, Mr. Speaker. | ||
| Back, the gentlewoman from Missouri. | ||
| I'm prepared to close. | ||
| The gentleman is. | ||
| Gentleman from California is recognized. | ||
| Mr. Speaker, I have no further speakers, and I'm prepared to close if the gentlelady from Missouri has no further speakers. | ||
| And apparently the Commissioner is California is recognized. | ||
| I yield myself the balance of my time. | ||
| Gentlemen is recognized. | ||
| This bill, H.R. 1713, encourages more permanent coordinated communications between those who focus on agriculture and our national security experts at CIFIAS. | ||
| I commend the gentleman from Oklahoma for his work on the committee on so many different issues. | ||
| I would urge my Republican colleagues not only to support this bill, but to support the activities of the Department of Agriculture, including SNAP in food inspections and other efforts designed to make sure that our food supply is safe, available, and secure. | ||
| I again urge my colleagues to support this bill, and I yield back the balance of my time. | ||
| The gentleman from California yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| Thank you, Mr. Speaker. | ||
| In closing, there is a need to connect the Agriculture Department's expertise, including its long-standing tracking of farmland purchases, with Cypheus's operations. | ||
| I look forward to supporting this bill today. | ||
| I urge my colleagues to do so and join me in supporting H.R. 1713. | ||
| I applaud Mr. Lucas, and I yield back the balance of my time. | ||
| The gentlewoman yields back. | ||
| The question is: will the House suspend the rules and pass the bill H.R. 1713 as amended? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, the two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I move to suspend the rules and pass the bill H.R. 3352 as amended. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 93, H.R. 3352, a bill to require the Securities and Exchange Commission to revise rules relating to general solicitation or general advertising to allow for presentations or other communication made by or on behalf of an issuer at certain events and for other purposes. | ||
|
Demo Day Protections
00:15:10
|
||
| Pursuant to the rule, the gentlewoman from Missouri, Mrs. Wagner, and the gentleman from California, Mr. Sherman, each will control 20 minutes. | ||
| The chair now recognizes the gentlewoman from Missouri. | ||
| Mr. Speaker, I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extraneous material on this bill. | ||
|
unidentified
|
Without objection. | |
| Mr. Speaker, I yield myself as such time as I may consume. | ||
| The gentlewoman is recognized. | ||
| Mr. Speaker, I rise in support of H.R. 3352, the Helping Angels Lead Our Startups Act, and thank Congressman Laulder for his leadership on this bipartisan bill. | ||
| Around the country, early-stage entrepreneurs are developing new technologies, products, and services, not in boardrooms, but in shared workspaces, university labs, and community accelerators. | ||
| At this stage, the most important thing they need is capital and often a chance to talk with potential investors. | ||
| That's what makes events like Demo Days so important. | ||
| These are informational forums where startups share their business ideas, not investment pitches. | ||
| But under earlier SEC guidance, even participating in one of these events could be considered a, quote, general solicitation, which in turn could block the startup from using key offering exemptions. | ||
| Although the SEC has since addressed this through Rule 148, H.R. 3352 codifies those protections and ensures that demo day participation does not unintentionally violate securities laws, provided certain conditions are met. | ||
| This bill strikes the right balance. | ||
| It doesn't weaken investor protections. | ||
| It simply ensures our regulations don't punish small businesses for talking about their work. | ||
| H.R. 3352 supports entrepreneurship, encourages capital formation, and reflects how innovation actually happens. | ||
| I urge my colleagues to support it, and I reserve the balance of my time. | ||
| Gentlewoman from Missouri Reserves, the gentleman from California is recognized. | ||
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| I rise in support of H.R. 3352, the Helping Angel Lead Our Startups, or HALOS Act, of 2025, sponsored by the gentleman from New York, Mr. Lawler. | ||
| I do want to comment about the terminology of the bill. | ||
| Let's face it, this is not an effort to help charity or perhaps God or angels. | ||
| We got halos, we got angels. | ||
| These are private investors trying to get the best deal from themselves. | ||
| That being said, and perhaps not giving them full halo status, let me say that these angel investors do play an important role in our economy, even if they've named themselves after the angels of heaven. | ||
| Let's break down two things of the bill. | ||
| First, it allows startups to discuss their products and business plans at certain events known as demo days without such discussions counting as a general solicitation under our securities regulations and therefore as an investment offering necessitating SEC registration. | ||
| Second, it defines what an angel investor is for purposes of security laws. | ||
| Angel investors simply are well-off individuals that invest their money into startups. | ||
| Again, I know that angels enter heaven. | ||
| Whether well-off individuals enter heaven is a discussion for a more theological venue. | ||
| Unlike prior iterations of this bill, the current bill prohibits demo days from taking place at facilities owned by religious institutions and allow, but so that's what is prohibited, but it allows both Native American tribes and startup incubators to host them. | ||
| I'm aware of several instances where bad actors took advantage of the halo, if you will, of being in a church to get investments that were inappropriate. | ||
| This has been an issue for Ranking Member Waters. | ||
| She has negotiated changes in this bill at the committee level. | ||
| I'm pleased that Mr. Lawler and Ranking Member Waters collectively agreed to remove churches and other religious institutions as sites for these demo days in the bill, which eliminates substantially the outstanding concerns of financial services Democrats. | ||
| As such, I'm pleased to recommend to my colleagues vote yes on this bill, and I reserve the balance of my time. | ||
| Gentlemen from California Reserves, gentlewoman from Missouri is recognized. | ||
| Yes, Mr. Speaker, I yield as much time as he may consume to the gentleman from New York, Mr. Lawler. | ||
| The gentleman from New York is recognized for as much time as he may consume. | ||
| Thank you, Madam Chair. | ||
| Mr. Speaker, I rise in support of my bill, H.R. 3352, the HALOS Act, a bill I reintroduced this Congress with my colleague Congressman Josh Gottheimer of New Jersey. | ||
| America's small businesses have faced a tough road, weathering the impacts of COVID, high inflation, and burdensome regulations that have made it harder to grow and compete. | ||
| And yet they continue to serve as the backbone of our economy, driving innovation, creating jobs, and keeping the American dream alive. | ||
| According to the Small Business Administration, firms with fewer than 500 employees account for 43.5% of our nation's GDP. | ||
| Since 2019, they have been responsible for over 70% of net new job creation. | ||
| And just last year, we saw more than 430,000 new business applications each month, a 50% increase compared to 2019. | ||
| That kind of momentum deserves our full support. | ||
| We should be doing everything we can to encourage investment, foster innovation, and make it easier, not harder, for entrepreneurs to succeed. | ||
| That's why I introduced the Helping Angels Lead Our Startups Act, otherwise known as the HALOS Act. | ||
| This bipartisan bill, which I'm proud to lead alongside Josh Gottheimer, is a straightforward way to give early-stage startups more opportunities to connect with potential investors. | ||
| The HALOS Act clarifies the definition of general solicitation and allows startups to participate in demo day events without fear of running afoul of outdated securities regulations. | ||
| It also defines what it means to be an angel investor, helping entrepreneurs know who they can engage with as they work to get their ideas off the ground. | ||
| These changes are not about deregulation for its own sake. | ||
| They're about opening doors. | ||
| They make it easier for new businesses to get the early capital they need to hire, grow, and contribute to a dynamic competitive economy. | ||
| And we know that this model works. | ||
| Angel investors help launch companies like Amazon, Google, Facebook, Costco, and Starbucks, names we all recognize today that started as small ideas in need of capital and support. | ||
| By reducing legal uncertainty, especially around demo day events, we're also giving more room for underrepresented entrepreneurs and overlooked communities to pitch their ideas and access funding. | ||
| It's a chance to level the playing field and help more people take part in building America's next generation of businesses. | ||
| I'm proud that during the committee process, we were able to make thoughtful revisions to address concerns raised by the ranking member. | ||
| I also want to thank Chairman Hill for advancing this bill, as well as my colleague, the Chairwoman of the Subcommittee on Capital Markets, as well as Congressman Gottheimer for his partnership. | ||
| The HALOS Act builds on the bipartisan success of the Jobs Act and is a common sense step forward to modernize our rules and strengthen our economy. | ||
| I urge my colleagues to support the bill, and I yield back the balance of my time. | ||
| The gentleman from New York yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| Mr. Speaker, I'm prepared to close if the gentleman is. | ||
| The gentlewoman reserves. | ||
| The gentleman from California is a very important part of the country. | ||
| Mr. Speaker, I have no further speakers on our side, and I am prepared to close. | ||
| The gentleman is recognized. | ||
| Mr. Speaker, I yield myself the balance of my time. | ||
| I urge all members to support H.R. 3352, the Helping Angels Lead Our Startups or HALOS Act, sponsored by Mr. Lawler. | ||
| This legislation will help startups have easier access to funding they need to get off the ground while addressing the issues of certain bad actors taking advantage of susceptible investors. | ||
| This bill threads that needle and will continue to amplify our nation's great tradition of being the best place for entrepreneurs and talented go-getters to start and grow their businesses. | ||
| I ask my colleagues to vote yes on the bill and I yield back the balance of my time. | ||
| The gentleman from California yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| Mr. Speaker, in closing, I want to say that H.R. 3352 supports entrepreneurship, encourages capital formation, and reflects how innovation actually happens. | ||
| I urge my colleagues to support Mr. Lawler's bill, H.R. 3352, and I yield back the balance of my time. | ||
| The gentlewoman yields back. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 3352 as amended? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, two-thirds being in the affirmative. | ||
| The rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I move to suspend the rules and pass the bill H.R. 2225 as amended. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 96, H.R. 2225, a bill to permit a registered investment company to omit certain fees from the calculation of acquired fund fees and expenses and for other purposes. | ||
| Pursuant to the rule of the gentlewoman from Missouri, Mrs. Wagner, and the gentleman from California, Mr. Sherman, H will control 20 minutes. | ||
| The chair now recognizes the gentlewoman from Missouri. | ||
| Yes, Mr. Speaker, I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extraneous materials on the bill. | ||
| Without objection. | ||
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentlewoman is recognized. | ||
| Mr. Speaker, I rise today in support of H.R. 2225, the Access to Small Business Investor Capital Act, and thank Congressman Sherman and the bipartisan co-sponsors for their work on this bill. | ||
| This is a narrowly tailored fix to a long-standing problem that's hurting business development companies or BDCs, which Congress originally created to help small and mid-sized businesses access capital. | ||
| Unfortunately, the SEC rule called Acquired Fund Fees and Expenses, or AFI, requires funds that invest in BDCs to count the BDC's internal expenses as part of their own expense ratio. | ||
| The result is a higher reported cost, even though those fees aren't actually paid by the investor. | ||
| This has led many funds to avoid BDCs altogether, and it has kept BDCs out of key investment indexes. | ||
| That means fewer dollars flowing to small businesses on Main Street. | ||
| H.R. 2225 fixes this. | ||
| It allows funds to exclude BDC-related expenses from their AFI calculation while still disclosing their investment in BDCs, improving both accuracy and transparency. | ||
| This is a smart, bipartisan solution that removes an unintended barrier to capital formation without reducing investor protections. | ||
| I urge my colleagues to support the bill, and I reserve the balance of my time. | ||
| Gentleman from Missouri reserves. | ||
| The gentleman from California is recognized. | ||
| I yield myself as much time as I may consume. | ||
| Gentlemen, recognized. | ||
| I want to, at the outset, thank the chair and the ranking member for getting us to this stage on this bill. | ||
| I also want to thank the co-sponsors of this bill. | ||
| We have just from the committee some 13 Democrats and eight Republican members of the Financial Services Committee to co-sponsor this bill, but I especially want to thank the original co-sponsors, Mr. Hizinga, Mr. Garbiano, and Ms. Bynum for their efforts into bringing us to this point. | ||
| This is a bipartisan bill, and like all of the most fascinating bills that come to the floor of the House, it deals with accounting. | ||
| And like the most important bills that come to the floor of the House, it deals with accounting. | ||
| In this case, accounting for the expense ratios of mutual funds. | ||
| This bipartisan bill, H.R. 2225, the Access to Small Business Investor Capital Act, makes a narrow technical correction of the federal securities rules that had a major unintended consequences over the last two decades. | ||
| In 1980, Congress created the small created the business development companies to facilitate capital formation and get that capital to small and medium-sized businesses. | ||
| I want to point out that as we've had tighter and tighter bank regulations, banks have been reluctant to lend money to small businesses except where their risks are guaranteed by the Small Business Administration and SBA loans are, of course, limited. | ||
| So we need BDCs to provide investment and to provide management assistance to growing businesses that are often underserved by traditional lending institutions. | ||
| By law, BDC must invest at least 70% of their assets in small and medium-sized domestic companies. | ||
| Over time, BDCs have filled that critical gap in our capital markets by funding businesses and industries and geographies often overlooked by other financial institutions. | ||
| BDCs are often the first institutional investors to step in. | ||
| This bill will play an important role in getting BDCs the capital that they then put into small and medium-sized businesses. | ||
|
SEC Rule Distorts BDC Investments
00:04:41
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| Calculations are that $120 billion more will be available to invest by BDCs because we expect a 30% increase in total investment. | ||
| That is because this bill opens the door to mutual fund investments in BDCs. | ||
| Despite the success of BDCs, in 2006, the SEC adopted a rule that inadvertently discouraged capital flows into BDCs, constraining their ability to serve small business. | ||
| The rule, as part of the SEC's Acquired Fund Fees and Expenses Framework, AFFE, requires mutual funds and other investment vehicles that invest in BDCs to disclose as management fees of the mutual fund the expenses, the overhead of the BDC. | ||
| This is in radical opposition to how similar investments are treated. | ||
| So if a mutual fund invests in the bank, the mutual fund, of course, lists as an expense of the mutual fund the expenses of the mutual fund. | ||
| But it does not list the overhead of the bank as if that's an expense of running the mutual fund. | ||
| Banks and BDCs are two of the major types of institutions that make business investments in business loans. | ||
| The double counting of BDCs by counting those as expenses of the mutual fund simply makes it impossible for mutual funds to invest in BDCs. | ||
| The SEC rule artificially infates the expense ratios of those mutual funds that choose to invest in BDCs, and so many of them don't. | ||
| The result is misleading. | ||
| Investors see a fund's expenses as higher than they actually are simply because the fund decides to invest in BDCs. | ||
| This perception has led many fund managers to exclude BDCs from their portfolio, not because of performance, but because of this distorted regulatory accounting. | ||
| The intent of this rule to provide transparency was well-meaning, but the execution, when applied to BDCs, has been counterproductive. | ||
| Research by U.S. international financial professors shows that BDCs were removed from the major U.S. stock indexes as a consequence of this misguided AFFE rule. | ||
| And BDCs experienced a 29 percent to 33 percent lower investment growth as compared to similar potential investments. | ||
| The effects were not limited to the financial sector. | ||
| Companies that rely on BDC saw lower job creation, with employment falling by between 1.5 and 6.5 percentage points compared to pre-exclusion levels. | ||
| The rule also fails to recognize the unique structure and mission of BDCs. | ||
| Unlike passive funds, BDCs are actively managed and intentionally incur higher costs in order to provide tailored investment and advisory services to the small businesses that they invest in. | ||
| This model creates long-term value, but the AFFE rule unfairly penalizes it. | ||
| This is, of course, a departure. | ||
| The rule is inconsistent with the way the AFFE rule applies to mutual fund investments in REITs and, more importantly, the way it applies to mutual fund investments in banks. | ||
| Because if this rule is miscounting, BDCs were removed from several stock indexes, as I pointed out earlier. | ||
| If the SEC had the benefit of hindsight, I think it's unlikely that they would have adopted this rule, which contradicts the rule that they have for investments in banks and REITs. | ||
| That's why Congress needs to reverse this. | ||
| The Access to Small Business Investment Capital Act fixes this by allowing BDCs acquired fund fees and expenses from disclosures from maintaining while maintaining transparency around the BDC management fees and costs. | ||
| This restores fairness and aligns the regulatory disclosures with economic reality and gives investors a clear view of their actual costs. | ||
|
Definition Of Accredited Investors
00:15:36
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| Importantly, it does so without rolling back investor protections or weakening SEC oversight. | ||
| I want to point out that this bill will provide $120 billion of capital to our small and medium-sized businesses without a penny of cost to the American taxpayer and without any risk to the American taxpayer. | ||
| This bipartisan legislation will open the door to more investment in BDCs, thereby unlocking capital for small and medium-sized businesses. | ||
| The most important thing that our financial institutions, the most important thing that our capital markets can do, is provide capital for growing American enterprises, particularly small and medium-sized businesses. | ||
| Business development companies play a vital role, and I'm proud to work with a bipartisan group of members. | ||
| As I pointed out earlier, we have a substantial number of co-sponsors, 25 in all, including 13 Democrats, on the committee. | ||
| And we have seen bipartisan support for this bill, not only in this Congress but in prior Congresses. | ||
| This is the Congress in which we actually have to get it adopted. | ||
| The bipartisan legislation will open more investments, unlock capital for small businesses, as I have said. | ||
| And I would urge my colleagues to support this bill, and I reserve the balance of my time. | ||
| The gentleman from California Reserves, the gentlewoman from Missouri is recognized. | ||
| Mr. Speaker, I'm prepared to close, so I reserve. | ||
| The gentlewoman from Missouri Reserves, the gentleman from California, is recognized. | ||
| Mr. Speaker, I have no additional speakers on my side, so I am prepared to close, and I yield myself as much the balance of my time. | ||
| The gentleman is recognized. | ||
| I want to point out that There is, I think this is the best thing that Congress can do to, without risk or cost to the American taxpayer, make sure that small and medium-sized businesses have access to capital. | ||
| And with the BDC methodology, BDCs not only provide the capital, but also provide the advice that so many growing businesses need. | ||
| I want to thank the original co-sponsors that I mentioned earlier and all the co-sponsors of this bill. | ||
| I want to once again thank the chair and the ranking member for getting us to this point. | ||
| And I urge my colleagues to support this bill, and I yield back the balance of my time. | ||
| The gentleman from California yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| Thank you, Mr. Speaker. | ||
| In closing, this is a smart, bipartisan solution that removes an unintended barrier to capital formation without reducing investor protections. | ||
| I urge my colleagues to support H.R. 2225, and I yield back the balance of my time. | ||
| The gentlewoman yields back. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 2225 as amended? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| The opinion of the chair, two-thirds being in the affirmative, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose the gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I move to suspend the rules and pass the bill H.R. 3394 as amended. | ||
| The clerk will report the title of the bill. | ||
| Union Calendar No. 85, H.R. 3394, a bill to amend the Securities Act of 1933 to codify certain qualifications of individuals as accredited investors for purposes of the securities laws. | ||
| Pursuant to the rule, the gentlewoman from Missouri, Mrs. Wagner, and the gentleman from California, Mr. Sherman, each will control 20 minutes. | ||
| The chair now recognizes the gentlewoman from Missouri. | ||
| Mr. Speaker, I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extra radius material on this bill. | ||
| Without objection. | ||
| Mr. Speaker, I yield myself as much time as I may consume. | ||
| The gentlewoman is recognized. | ||
| Mr. Speaker, I rise in strong support of H.R. 3394, the Fair Investment Opportunities for Professional Experts Act. | ||
| And I want to thank our Financial Services Committee Chairman, the gentleman from Arkansas, Mr. Hill, for his leadership on this bipartisan legislation. | ||
| For decades, the SEC's accredited investor definition has served as a gatekeeper to private investment opportunities, relying almost entirely on income and net worth thresholds. | ||
| But this approach has excluded millions of Americans who may not meet those financial metrics, but have the education, licenses, or professional experiences to make informed investment decisions. | ||
| H.R. 3394 modernizes that definition. | ||
| It directs the SEC to expand eligibility to individuals who hold certain professional certifications, relevant degrees, or job experience, criteria that actually reflect financial sophistication. | ||
| This change is long overdue. | ||
| It will unlock capital for small businesses, broaden investor participation, and better align our rules with how Americans build expertise and manage risk in today's economy. | ||
| The bill maintains investor protections while removing arbitrary barriers that have held back individual investors and early-stage entrepreneurs alike. | ||
| I urge my colleagues to support this common sense reform, and I reserve the balance of my time. | ||
| The gentlewoman from Missouri Reserves, the gentleman from California, is recognized. | ||
| I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| I want to commend the gentlelady from Missouri for all of her work chairing the Subcommittee on Capital Markets, but particularly for the hearings that we've had on this bill. | ||
| And I look forward to working with her on the subcommittee for many years to come. | ||
| I rise in support of H.R. 3394, the Fair Investment Opportunities for Professional Experts Act offered by my friend and Financial Services Committee Chair, French Hill. | ||
| This bill is the first step in what I hope will be an effort to reform the definition of accredited investor. | ||
| This bill moves us to add to that definition by noting that certain experience and licenses and education can indeed make one an accredited investor. | ||
| At the same time, I'll point out that our definition of accredited investor was, I think wrongfully, decided that we should just focus on who's ever rich, then defined people as rich based on 1983 numbers. | ||
| And while a million dollars may have made you rich then, it does not mean that you are rich today. | ||
| So I rise in support of this bill. | ||
| The accredited investor framework has long protected the general public from investing in high-risk, illiquid private securities. | ||
| Unlike our public capital markets, in the private capital markets, companies don't provide anywhere near the same level of financial or other disclosures, and there are not the same legal protections for investors, nor is there the same ability of the SEC and state securities regulators to police the markets. | ||
| When the accredited investor framework was being debated, accredited investors were thought to be those who possess intimate understanding and knowledge of the risks inherent in investing in private securities. | ||
| These risks include heightened volatility, less transparency, difficulty obtaining accurate pricing, long lock-up periods, and limited liquidity. | ||
| Ultimately, the industry and business community argued for a simpler approach, so the SEC adopted the current definition, which is based around income and wealth. | ||
| Today, to be an accredited investor, an investor must have a net worth, either individually or with spouse, exceeding $1 million, excluding the value of their home. | ||
| Or they must make more than $200,000 a year or $300,000 with the spouse. | ||
| Those were definitions applicable in 1983 that may not have defined those with the requisite knowledge, but at least defined those who were high-income, high-net worth individuals. | ||
| And of course, certain professional certifications or designations, such as being an investment advisor, could also qualify you under the existing rules. | ||
| The wealth and income thresholds, as I've said several times, set back in 1983. | ||
| Back then, roughly 2% of all Americans were considered qualified, or rather accredited investors. | ||
| As of 2023, that number had risen to 20%. | ||
| Clearly, either the standard was wrong in 1983 or it's wrong now because it's an entirely different level of real wealth and real income. | ||
| Mr. Hill's bill aims to return back to the original concept of accredited investors, at least in an important respect, which is that investors in private offerings should be fully aware and knowledgeable of the risks involved. | ||
| As my friend and ranking member of the Financial Services Committee, Ms. Waters, has said during our markup of this bill: just because you have a million dollars doesn't mean you understand the complexities of private markets. | ||
| On the other hand, you shouldn't be prohibited from investing in products if you have full knowledge of the risks involved but don't happen to have a million dollars. | ||
| I would add to that that our definition of accredited investors, when we're done improving it, and this bill is an important step toward improving it, should focus on what percentage of net worth a person is investing in the particular private offering or in private offerings in general. | ||
| Because one may be accredited to invest five or ten percent of their net worth, but when you start betting the mortgage payments on one private investment, that is where our definition of accredited investor should protect you from that. | ||
| So, there should be diversification and limitation on the amount that an accredited investor can invest in any one or in all private offerings. | ||
| But that is for a different bill. | ||
| This bill simply makes one important improvement in our definition of accredited investor. | ||
| It is critical for the SEC to revise and update the accredited definition to protect those that don't possess proper knowledge or information about risks of private unregistered securities. | ||
| Mr. Hill's bill moves us in the right directions by indicating that certain credentials, such as someone with a master's in business administration, an MBA, or a FINRA certification, for example, should be deemed accredited without needing to meet income or wealth requirements. | ||
| It also reconfirms Congress's mandate to the SEC that we must adjust wealth and income thresholds to account for inflation. | ||
| This is the right balance. | ||
| I look forward to passing this bill. | ||
| I look forward to our subcommittee and the full committee making other changes in the definition of accredited investor. | ||
| I urge my colleagues to support this bill, and I reserve the balance of my time. | ||
| The gentleman from California Reserves, gentlewoman from Missouri, is recognized. | ||
| Mr. Speaker, I now yield as much time as he may consume to the author of this bill, the gentleman from Arkansas, and the chairman of the Financial Services Committee, Mr. Hill. | ||
| The gentleman from Arkansas is recognized for as much time as he may consume. | ||
| I thank the Speaker. | ||
| I certainly thank our distinguished chair of the subcommittee, Mrs. Wagner of Missouri. | ||
| Thank you for your daily leadership of our agenda to make America more competitive by having the most liquid, competitive capital markets in the world. | ||
| And these bills certainly take a step in that direction to support that goal. | ||
| I want to thank my friend from California for his comments and support of the bill. | ||
| And he's right. | ||
| You know, Mr. Speaker, I think we've all learned in our lives that intelligence and wealth aren't directly correlated. | ||
| And this is another example of that where people are held back from their ability to use their expertise, their knowledge, just because they don't have a specific net worth. | ||
| And that's what H.R. 3394, the Fair Investment Opportunities for Professional Experts Act, seeks to clarify. | ||
| Many individuals, whether through work, education, or other experience, have knowledge to make an informed investment decision or excluded simply because of an income or net worth test. | ||
| Before I was in Congress, I helped investors and founders start new companies and raise funds through Regulation D private placements. | ||
| I witnessed firsthand on an annual basis routinely how current the current accredited investor definition impaired talented, knowledgeable innovators from fully participating upfront in their business formation dream. | ||
| This bill, with my good friend from California, Representative Vargas, would expand the definition of an accredited investor and allow Americans who can demonstrate education, professional experience, or other similar credentials the opportunity to invest in a private offering. | ||
| It passed out of our Financial Services Committee 45 to 1, Mr. Speaker, demonstrating clear bipartisan support. | ||
| So I agree with my friend from California. | ||
| This bill is a step in the right direction, offering more Americans a chance to participate in the American dream, build capital, help start a business, and use their God-given talent, skills, ability, and professional expertise to help that company be successful. | ||
| And with that, Chair Wagner, I yield back to you, and I urge a yes vote from all the members on both sides of the aisle. | ||
| The gentleman from Arkansas yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| I apparently reserve. | ||
| The gentlewoman from Missouri reserves. | ||
| The gentleman from California is recognized. | ||
| Mr. Speaker, I have no speakers on my side. | ||
| I yield myself the balance of the time. | ||
| The gentleman is recognized for that. | ||
| I rise in support of Chairman Hill's bill, H.R. 3394. | ||
| This bill will improve the definition of accredited investor. | ||
| I urge a yes vote, and I yield back the balance of my time. | ||
| Gentleman from California yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| The gentleman from Missouri is recognized. | ||
| Yes, Mr. Speaker, I yield three minutes to the gentleman from Florida, Mr. Haradopoulos. | ||
|
Elevate Act: Simplifying Growth
00:15:15
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| The gentleman is recognized for three minutes. | ||
| Thank you, Madam Chair. | ||
| I'll be brief with this explanation. | ||
| I want to first say that it is so nice to see our economy moving in the right direction, and this bill will give more opportunity to Americans to invest, not as many regulations in their way. | ||
| With these challenging times overseas, it is nice to see that we recognize that economic security equals national security, and by expanding the qualified investor rule, that will give exactly that, more opportunity to others. | ||
| This bill, led by our chairman, expands access to private capital markets with those who have proven expertise. | ||
| The bill allows investors to qualify based on licenses, education, and job experience, not just net worth. | ||
| It truly modernizes our investor standards to reflect today's knowledge-based economy by widening the pool for investors who are qualified. | ||
| It fuels private investment and business growth, while at the same time keeping protections in place by the SEC and FINRA. | ||
| And for these reasons, I support the good bill by our chairman, and I yield back. | ||
| The gentleman yields back. | ||
| The gentlewoman from Missouri is recognized. | ||
| Yes, Mr. Chairman. | ||
| I believe the gentleman has yielded back to the Prime Minister. | ||
| So I'm prepared to close. | ||
| The gentlewoman is recognized. | ||
| Mr. Speaker, the Fair Investment Opportunities for Professional Experts Act maintains investor protections while removing arbitrary barriers that have held back individual investors and early-stage entrepreneurs alike. | ||
| I urge my colleagues to support H.R. 3394, and I yield back the balance of my time. | ||
| The gentlewoman yields back. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 3394 as amended? | ||
| Those in favor say aye. | ||
| Those opposed, no. | ||
| In the opinion of the chair, the two-thirds being in the affirmative, the rules are... | ||
| For what purpose does the gentlewoman... | ||
| I'd request a yays and nays. | ||
| The yays and nays are requested. | ||
| All those in favor of taking the vote for the yays and nays will rise and remain standing until counted. | ||
| A sufficient number having risen, the yeas and nays are ordered. | ||
| Pursuant to clause 8 of Rule 20, further proceedings on this question will be postponed. | ||
| For what purpose does the gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I move to suspend the rules and pass the bill, H.R. 3301, as amended. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 91, H.R. 3301, a bill to amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review and for other purposes. | ||
| Pursuant to the rule, the gentlewoman from Missouri, Mrs. Wagner, and the gentleman from California, Mr. Sherman, will control 20 minutes. | ||
| The chair recognizes the gentlewoman from Missouri. | ||
| Mr. Speaker, I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extra radius material on this bill. | ||
| Without objection. | ||
| Mr. Speaker, I yield myself such time as I may consume. | ||
| The gentlewoman is recognized. | ||
| Mr. Speaker, I rise today in strong support of H.R. 3301, the Elevate Act, and thank Congressman Nunn for his leadership on this forward-looking and bipartisan bill. | ||
| One of the key successes of the Jobs Act of 2012 was the creation of emerging growth companies, or EGCs, small and mid-sized firms given tailored disclosure requirements to encourage them to go public. | ||
| These companies are a major source of innovation, job creation, and economic growth. | ||
| Today, over 90% of initial public offerings are filed by EGCs. | ||
| But when an EGC spins off part of its business to create a new public company, that spin-off does not currently get the same treatment, despite originating from a company already recognized as an emerging growth company. | ||
| H.R. 3301 fixes this inconsistency. | ||
| It ensures that spin-offs from EGCs are allowed to provide two years of audited financials, just like when a standard EGC goes public. | ||
| This helps reduce redundant compliance costs while maintaining full investor protections. | ||
| This is a smart and targeted update to our securities law, and it honors the original intent of the Jobs Act to make it easier, not harder, for innovative companies to enter the public markets. | ||
| I urge my colleagues to support Mr. Dunn's Elevate Act, and I reserve the balance of my time. | ||
| Gentlewoman from Missouri Reserves, gentleman from California is recognized. | ||
| I yield myself as much time as I may consume. | ||
| The gentleman is recognized. | ||
| This bill illustrates what I said earlier today: that the most fascinating issues are those that involve accounting and auditing. | ||
| I rise in support of H.R. 3301, the Elevate Act of 2025, sponsored by the gentleman from Iowa, Mr. Nunn. | ||
| Emerging growth companies, also known as EGCs, are a special type of public company that we created during the Bipartisan Jobs Act of 2012. | ||
| Unlike full-fledged public companies, EGCs only need to provide two years of audited financials when they conduct their initial public offering, also known as an IPO. | ||
| Despite this special two-year accommodation, there are some instances where an EGC, that is to say an emerging growth company, was still required to provide three years of financials and is still required under present law. | ||
| One such instance is when the EGC conducts a spin-off, which is a transaction in which one company creates a new independent company by selling new shares of its existing business. | ||
| So the one company becomes two separate companies through a spin-off transaction. | ||
| Mr. Nunn's bill reduces this obligation for EGC spin-offs to two years. | ||
| That's only two years of audited financials, keeping in line with what is required when the EGC itself goes public. | ||
| In doing so, this bill streamlines the financial disclosure obligations for emerging growth companies across the board, making it easier for them to raise capital from the public. | ||
| I urge my colleagues to vote yes on this important bill, and I reserve the balance of my time. | ||
| Gentlewoman from Missouri. | ||
| Mr. Speaker, I yield as much time as you may consume to my friend, the gentleman from Iowa, Mr. Nunn. | ||
| Thank you, Mr. Speaker, and thank you, Chairwoman Wagner, for leading this charge in a bipartisan effort. | ||
| I rise today, Mr. Speaker, to support our bipartisan Elevate Act. | ||
| I help lead this small business effort to help not only the heartland, but also our entrepreneurs and innovators across our country. | ||
| Let me start by saying we all know this to be true. | ||
| The American capital markets is the envy of the world. | ||
| And part of that strength comes from the bipartisan work of this very chamber, particularly with the passage of the JOBS Act 13 years ago. | ||
| One of the biggest successes of that law was the creation of the Emerging Growth Companies, or ECGs, to encourage smaller companies to go public here, right in the United States. | ||
| The JOBS Act didn't expand just that opportunity. | ||
| It created new jobs. | ||
| In the four years after the change, the ECGs made up 90% of our initial public offerings. | ||
| Moreover, it created 82,000 new jobs, new careers, right here in the U.S. | ||
| But I believe we can't stop there. | ||
| Iowa's 3rd District, my home district, I hear from small business owners who want to reinvest in new equipment, help expand the workforce, and give back to their communities through new innovation. | ||
| So the question remains, what's holding them back? | ||
| Well, Mr. Speaker, it's quite simply a deck that has been stacked against them by SEC rules that make accessing investment capital complex, more expensive, and harder for those who don't live on the East or West Coast to be able to snap up the lion's share of investment dollars before it can even get to the heart of the heartland. | ||
| Iowa's businesses, America's businesses, deserve an equal opportunity to access the capital they need to grow right on Main Street. | ||
| These businesses are not backed by billion-dollar valuations or teams of high-powered lawyers. | ||
| What they do have is grit, innovation, and the drive to succeed. | ||
| They're not asking for special treatment, Mr. Speaker, just a fair chance to compete. | ||
| Imagine the economic momentum we could unleash right here if we made it easier for those businesses to connect with the investors and bring them to the rest of America. | ||
| That's why I introduced the Elevate Act. | ||
| This bill makes a simple, common-sense fix to help level the playing field for growing businesses. | ||
| And in Iowa, you know baseball is big business. | ||
| When you have the opportunity to build it, Mr. Speaker, they will come, just like Field of Dreams. | ||
| And it allows our EGC spin-offs to file confidentially with the SEC, requiring 24 months of audited financials rather than the historic 36 months that had red tape and additional cost. | ||
| This ensures quality while minimizing the impact. | ||
| These changes align to the rules so that all EGCs, whether standalone or part of a larger spin-off, can compete. | ||
| Mr. Speaker, quite simply, this is about fairness. | ||
| It allows small businesses in rural America to play by the same rules as companies on Wall Street. | ||
| It's about giving a startup in Pella the same shot as a company in Palo Alto. | ||
| And it's about jobs, real jobs, right here at home. | ||
| We know the JOBS Act worked. | ||
| Now we have a chance to build on that success. | ||
| By passing the Elevate Act, we make it easier for Main Street businesses to get access to the capital they need. | ||
| I want to thank my colleagues on the other side of the aisle, particularly Representative Benham, for working with me to ensure that we give access to every American business a fair chance at success. | ||
| Thank you to Chairman Hill for his leadership on the Finance Committee, and thank you to our subcommittee chairwoman, Ann Wagner, who knows capital markets probably better than anyone on this House floor. | ||
| With that, I urge my colleagues to support the bipartisan Elevate Act. | ||
| I yield my time. | ||
| Mr. Speaker, I'm prepared to close. | ||
| The gentleman is gentlewoman reserves. | ||
| The gentleman from California. | ||
| Mr. Speaker, I have no further speakers on my side. | ||
| I'm prepared to close. | ||
| And I believe the gentlelady from Missouri has no further speakers. | ||
| Gentleman is recognized. | ||
| Mr. Speaker, I yield myself the balance of my time. | ||
| I want to commend the gentleman from Iowa, Mr. Nunn, on this bill. | ||
| I want to urge my colleagues to support the Elevate Act of 2025, which would streamline accounting disclosure requirements and auditing requirements for emerging growth companies, also known as EGCs. | ||
| So those EGCs only need to provide two years of audited financial statements across the board. | ||
| Like other bills that Democrats and Republicans have come to bipartisan agreement on, this bill balances the concern of those trying to raise capital while also maintaining disclosures and financial transparency that benefit and protect investors and thereby protect our capital markets, which so many speakers have pointed out are the envy of the world. | ||
| I ask my colleagues to vote yes on this bill and I yield back the balance of my time. | ||
| Gentleman yields. | ||
| Gentlewoman from Missouri. | ||
| Mr. Speaker, Mr. Nunn's Elevate Act is a smart, targeted update to our securities law. | ||
| I urge all my colleagues to support H.R. 3301 and I yield back the balance of my time. | ||
| Okay, the question is: will the House suspend the rules and pass the bill H.R. 3301 as amended? | ||
| Those in favor say aye. | ||
|
unidentified
|
Aye. | |
| Those opposed say no. | ||
| The opinion of the chair, two-thirds being in the affirmative aye, the rules are suspended. | ||
| The bill is passed, and without objection, the motion to reconsider is laid on the table. | ||
| For what purpose does the gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I have moved to suspend the rules and pass the bill H.R. 3381 as amended. | ||
| The clerk will report the title of the bill. | ||
| Union Calendar No. 86, H.R. 3381, a bill to amend the Securities Act of 1933 to expand the ability to use testing the waters and confidential draft registration submissions and for other purposes. | ||
| Persuade to the rule, the gentlewoman from Missouri, Ms. Wagner, and the gentleman from California, Mr. Sherman, each will control 20 minutes. | ||
| The chair recognizes the gentlewoman from Missouri. | ||
| Mr. Speaker, I ask your dad of his consent that all members may have five legislative days to revise and extend their remarks and include extraneous material on this bill. | ||
| Without objection. | ||
| Mr. Speaker, I rise today in support of my bill, H.R. 3381, the Encouraging Public Offerings Act. | ||
| Gentlewoman is recognized. | ||
| This legislation, Mr. Speaker, builds on the success of the JOBS Act by making it easier for companies of all sizes to go public, while maintaining the transparency and investor protections our markets depend on. | ||
| H.R. 3381 allows any company, not just emerging growth companies, to test the waters by gauging investor interest before or after filing with the SEC. | ||
| It also ensures that an issuer can submit a confidential draft registration statement before making it public, giving companies more flexibility and clarity as they prepare to go public. | ||
| These tools, Mr. Speaker, testing the waters and confidential filings, have proven valuable since the Jobs Act, especially for smaller companies navigating the complexities of going public. | ||
| My bill makes them available to all issuers with consistent timelines tied to when a registration statement becomes effective, not when a roadshow begins. | ||
| This bill is about giving growing businesses the confidence to enter the public markets and helping them reach new investors, expand operations, and create jobs across our country. | ||
| I want to thank my colleagues on both sides of the aisle and my Democratic co-sponsor, Mr. Meeks, for supporting these efforts to modernize our capital markets. | ||
| And I urge all members to support this bipartisan bill. | ||
| Mr. Speaker, I reserve the balance of my time. | ||
|
Supporting Rural Business Advocacy
00:15:44
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| Gentlewoman Reserves. | ||
| Gentleman from California. | ||
| I yield myself as much time as I may consume. | ||
| Gentlemen is recognized. | ||
| Thank you, Mr. Speaker. | ||
| I rise today in support of H.R. 3381, the Encouraging Public Offerings Act of 2025, sponsored by the chair of the relevant subcommittee, the Capital Markets Subcommittee, that being the gentlewoman from Missouri, Ms. Wagner. | ||
| I commend her for her bill and her work in general on these issues. | ||
| This bill codifies an SEC rule that allows any issuer to submit a confidential draft of the registration statement for review by the SEC staff. | ||
| In doing so, it allows companies seeking to access public markets more time to carefully draft their registration statements under SEC's guidance without needing to worry about the contents of their registration statement being made public before they've had a chance to cross all their T's and dot all their I's. | ||
| Ms. Wagner's bill also codifies a 2019 SEC rulemaking that allows any issuer to test the waters before going public, which would allow any issuer to gauge institutional investor interest in their offering without first needing to file a registration statement with the SEC. | ||
| Overall, this makes it easier for companies to access our capital markets and to go public. | ||
| I urge my colleagues to support this bill. | ||
| I think it's important that we encourage companies to go public, both so that they can get the capital they need to expand their business and so that any person has a chance to invest in these businesses and diversify their own portfolio. | ||
| I urge my colleagues to vote yes on this bill, and I reserve the balance of my time. | ||
| Gentleman Reserves. | ||
| Gentlewoman from Missouri. | ||
| Mr. Speaker, I am prepared to close and I reserve. | ||
| Gentlewoman reserves. | ||
| Gentleman from California. | ||
| I have no further speakers and I'm prepared to close. | ||
| The gentlelady from Missouri has no further speakers. | ||
| Gentleman is recognized. | ||
| Mr. Speaker, I yield myself the balance of my time. | ||
| I urge my colleagues to vote yes on H.R. 3381, the Encouraging Public Offerings Act of 2025, sponsored by the chair of our subcommittee, Ms. Wagner from Missouri, which would allow issuers to take advantage of confidential draft registration statements that are currently available only to EGCs. | ||
| It also makes it easier for companies to have access to capital by giving them the ability to gauge interest from institutional investors without added regulatory requirements of registration. | ||
| I ask my colleagues to support this bill. | ||
| I yield back the balance of my time. | ||
| Gentleman yields back. | ||
| Gentlewoman from Missouri. | ||
| Mr. Speaker, in closing, the Encouraging Public Offerings Act is about giving growing businesses the confidence to enter the public markets and helping them reach new investors, expand operations, and create jobs across the country. | ||
| I ask my colleagues to support my bill, H.R. 3381, and I yield back the balance of my time. | ||
| Lady yields back. | ||
| The question is now, will the House suspend the rules and pass the bill H.R. 3381 as amended. | ||
| Those in favor say aye. | ||
| Those opposed say no. | ||
| In the opinion of the chair, two-thirds being in the affirmative, the aye rules are suspended. | ||
| I mean, the rules are suspended. | ||
| The bill is passed. | ||
| Without objection, the motion to reconsider is laid on the table. | ||
| Okay, for what purpose does the gentlewoman from Missouri seek recognition? | ||
| Mr. Speaker, I move to suspend the rules and pass the bill H.R. 1190 as amended. | ||
| The clerk will report the title of the bill. | ||
| Union calendar number 92, H.R. 1190, a bill to amend the Securities Exchange Act of 1934 to expand access to capital for rural area small businesses and for other purposes. | ||
| Pursuant to the rule of the gentlewoman from Missouri, Ms. Wagner, and the gentleman from California, Mr. Sherman, each will control 20 minutes. | ||
| The chair recognizes the gentlewoman from Missouri. | ||
| Mr. Speaker, I ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extraneous material on this bill. | ||
| Without objection. | ||
| Mr. Speaker, I yield myself as much time as I shall consume. | ||
| Gentlewoman is recognized. | ||
| Mr. Speaker, I rise in support of H.R. 1190, the Expanding Access to Capital for Rural Job Creators Act. | ||
| And I commend Congressman Downing for leading this common-sense bipartisan bill. | ||
| Too often, the conversation around capital formation is centered on financial hubs like New York and San Francisco. | ||
| But the backbone of America's economy is the local business communities in cities and towns and rural areas across all 50 states. | ||
| The family-run manufacturers, agricultural innovators, entrepreneurs, and small-town tech startups. | ||
| These businesses face unique but very real obstacles when trying to raise capital. | ||
| H.R. 1190 ensures that those voices aren't left out. | ||
| The bill directs the SEC's Office of the Advocate for Small Business Capital Formation to proactively engage with rural communities, study the structural funding gaps that they face, and tackle their challenges when crafting policy. | ||
| This is not about expanding bureaucracy. | ||
| It's about sharpening the focus of an office that already exists to ensure that its mission reflects the incredible variety of businesses that are the engine of the U.S. economy. | ||
| We all have rural counties in our districts where hard-working small business owners are ready to grow if only they can access the capital they need. | ||
| This bill gives them a seat at the table and a voice in sharpening the policies that affect their future. | ||
| I urge my colleagues to support H.R. 1190 and I reserve the balance of my time. | ||
| Gentlewoman in reserves. | ||
| Gentleman from California. | ||
| I yield myself as much time as I may consume. | ||
| Recognized. | ||
| Thank you. | ||
| Up until now, on each of these bills, I've been speaking fast. | ||
| But I know that the next two bills, Mr. Rose and Ms. Waters, are planning to get here in just the next few minutes. | ||
| And since they're not here yet, it does the House no harm for me to speak more slowly and perhaps at greater length. | ||
| With that, I rise in support of H.R. 1190, the Expanding Access to Capital for Rural Job Creators Act, as sponsored by my colleague, the gentleman from Montana, Mr. Downing. | ||
| I'll point out that I am uniquely unqualified to address this bill since my entire district is in an urban area, that of the great city of Los Angeles. | ||
| But even I recognize the importance of getting capital to our small businesses in rural areas. | ||
| I strongly support this legislation, which would require the SEC's Office of the Advocate for Small Business Capital Formation to report on capital access issues faced by small rural businesses. | ||
| Currently, the SEC Small Business Advocate reports on small businesses that are minority-owned or women-owned or in disaster-stricken areas. | ||
| But at present, the law does not report on businesses in rural areas. | ||
| The bill simply adds rural businesses to the list covered by the entities of the Small Business Advocate and the entities that the Small Business Advocate will report on. | ||
| Small businesses, no matter where they're located or who they're owned by, are the backbone of the American economy. | ||
| Helping small businesses should be about as nonpartisan as we can get here in Congress. | ||
| Lawmakers and regulators should be doing everything they can to support them. | ||
| Those businesses located in rural areas face unique challenges. | ||
| We've had other speakers on other bills talk about how so many of our financial institutions and business investors are focused on the east or the west coast, are focused in New York or Silicon Valley or some of the other large cities in our country. | ||
| It is important, therefore, that the Small Business Advocate also report on the needs of rural small businesses who are seeking to raise capital. | ||
| Lawmakers and regulators should be focused on those businesses. | ||
| This is common sense, and I hope my colleagues will support it. | ||
| I want to commend the gentleman from Montana for bringing this bill to the floor, and I look forward to continue to discussing this bill. | ||
| And with that, I reserve. | ||
| Gentleman Reserves. | ||
| Gentlewoman from Missouri. | ||
| Mr. Speaker, I yield as much time as you may consume to my friend, the gentleman from Montana, Mr. Downing. | ||
| Gentleman is recognized. | ||
|
unidentified
|
Thank you, Mr. Speaker, and thank you, Madam Chair. | |
| Small businesses are the backbone of Montana's 2nd District. | ||
| According to the Small Business Administration, small businesses employ roughly 67 percent of all Montanans. | ||
| That's well above the national average. | ||
| These businesses historically have difficulty accessing the funding they need to grow and to create jobs, and their location presents an added challenge. | ||
| According to the Center for Rural Innovation, 12 percent of U.S. businesses are located within rural areas, yet they receive less than 1 percent of venture capital funding. | ||
| Many of the communities that I represent have populations under 500 people. | ||
| It places them among this underserved group. | ||
| These overlooked people and places have inspired my legislation, H.R. 1190, the Expanding Access to Capital for Rural Job Creators Act. | ||
| As any small business owner can attest, the number one barrier to growth is access to capital. | ||
| Through my own experiences, I know how difficult it can be for businesses to secure the funding they need to grow. | ||
| I've built businesses in technology, in manufacturing, distilling, and real estate, and the primary driver in the success of all of these was access to capital. | ||
| The SEC's Office of the Advocate for Small Business Capital Formation was created for just this reason, to identify capital access problems that small businesses face. | ||
| However, rural small businesses are currently excluded from the required categories of businesses the office monitors for these problems. | ||
| My legislation simply requires this office to identify and report to Congress the challenges faced by rural small businesses when trying to access our capital markets. | ||
| H.R. 1190 will make it easier for members of Congress to do our jobs to make sure rural businesses, like in Montana, are not left behind. | ||
| I want to thank Representative Bynum for partnering with me on this legislation. | ||
| I was happy to see it pass out of the Financial Services Committee with unanimous support. | ||
| I urge my colleagues to support this common sense legislation, and I yield back the balance of my time. | ||
| Gentlewoman in Reserves. | ||
| I'm prepared to close, Mr. Speaker, and I reserve. | ||
| Gentlewoman Reserves. | ||
| Gentleman of California. | ||
| Mr. Speaker, I would inquire as to how many more minutes I have left. | ||
| 17 minutes. | ||
| 17 minutes. | ||
| Mr. Speaker. | ||
| Gentleman, that's 16 minutes. | ||
| 16 minutes. | ||
| We're also prepared to recess. | ||
| I'd like to inform the ranking member after we close out this particular bill. | ||
| If it is possible for us to recess and then take up the other legislation, we can do that. | ||
| Or I can. | ||
| I thank the gentleman for entering into a colloquy with me regarding that. | ||
| I just wanted to, for your information, let you know that. | ||
| Okay. | ||
| Gentlemen, California. | ||
| I'm prepared to close and I reserve. | ||
| Good. | ||
| I yield myself the balance of my time. | ||
| It's my understanding that the House will have no further legislative business after we consider the bills that are before us today. | ||
| The authors of the last two bills for consideration are on their way. | ||
| So should I speak slowly or should we go into recess? | ||
| Either way, we are not delaying the House. | ||
| I urge members to support H.R. 1190, the Expanding Access to Capital for Rural Job Creators Act. | ||
| It is a simple but important step to directing the SEC's small business advocate to include rural businesses in their reporting. | ||
| As I've noted before, currently the Small Business Advocate reports on the challenges faced by minority-owned, women-owned, and disaster-affected small businesses. | ||
| This would add rural businesses to the list. | ||
| This is a gap we need to fix. | ||
| Small businesses in rural communities face unique hurdles in accessing capital, and they deserve the same attention as the other types of businesses that the advocate focuses on. | ||
| No matter where located, no matter who owns them, small businesses are the backbone of our economy. | ||
| They should be and are a bipartisan priority, and this bill is a step in the right direction. | ||
| With the understanding that we will be able to deal with the other bills that come before us, that are scheduled to come before us, even after a short recess, I urge a yes vote on H.R. 1190, and I yield back the balance of my time. | ||
|
unidentified
|
Gentleman yields back. | |
| Gentlemen yields back. | ||
| Gentlewoman from Missouri. | ||
| Mr. Speaker, in closing, the Expanding Access to Capital for Rural Job Creators Act takes care of our hardworking small business owners that are ready to grow. | ||
| They deserve a seat at the table, Mr. Speaker. | ||
| I urge all my colleagues to support H.R. 1190. | ||
| I commend the representative from Montana, Mr. Downing, and I yield back the balance of my time. | ||
| The question is, will the House suspend the rules and pass the bill H.R. 1190 as amended? | ||
| Those in favor say aye. | ||
| Aye. | ||
| Those opposed, say no. | ||
| In the opinion of the chair, the two-thirds being in the affirmative aye, the rules are suspended. | ||
|
Improving Farmland Purchase Reviews
00:00:57
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| The bill is passed. | ||
| And without objection, the motion to reconsider on the table. | ||
| Pursuant to Clause 12A of Rule 1, the Chair declares the House in recess for a period of less than 15 minutes. | ||
|
unidentified
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Today in the House, members are considering several bills, including a measure which seeks to improve the review process of foreign purchases of U.S. farmland and agricultural businesses. | |
| Also, legislation requiring the U.S. to support and advocate for Taiwan's membership in the International Monetary Fund. | ||
| Later this week, lawmakers will take up a bill reducing undocumented immigrants in the country, including deporting non-citizens who've been convicted or admitted to driving drunk. | ||
|
Pam Bondi Testifies
00:00:41
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|
unidentified
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Members will also consider funding for military construction projects and the Veterans Affairs Department as the first of 12 federal spending bills for 2026. | |
| Watch live coverage of the U.S. House when lawmakers return here on C-SPAN. | ||
| Earlier today, Attorney General Pam Bondi testified on the President's 2026 budget request for the Justice Department, which includes nearly $3 billion in proposed cuts and aims to consolidate several DOJ offices. | ||
| Watch the Senate Appropriations Subcommittee hearing tonight, starting at 9 Eastern on C-SPAN. | ||