June 8, 2017
continue to rage in America. Our children are not for sale, period. And that is just the way it is.
the small business they have always dreamed of, and secure their family’s future.
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REPEALING DODD-FRANK (Mr. RASKIN asked and was given permission to address the House for 1 minute and to revise and extend his remarks.) Mr. RASKIN. Mr. Speaker, I rise because the majority is expected to vote today to repeal Dodd-Frank, the legislation that we passed after Wall Street predators in the mortgage meltdown crisis cost the American people 8.7 million jobs and $19 trillion, including $2.7 trillion in retirement savings. Ten million Americans lost their homes and entire communities were devastated. But, amazingly, the majority wants to destroy the most important piece of financial safety legislation passed for the American people in 75 years. They call it the Financial CHOICE Act, but what kind of choice does it give you? It destroys the Consumer Financial Protection Bureau, which has saved 26 million people nearly $12 billion from scams and rip-offs. It destroys the Volcker rule, which keeps banks from making speculative bets with your money. The Financial CHOICE Act is the wrong choice for America and a very bad choice for Congress.
PREPARING FOR DISASTER (Mr. BILIRAKIS asked and was given permission to address the House for 1 minute and to revise and extend his remarks.) Mr. BILIRAKIS. Mr. Speaker, with hurricane season underway, my constituents in Florida and all Americans living in coastal regions are susceptible to these devastating storms. Disaster can strike at any time, often with little warning. It is never too early to prepare. Know your evacuation routes and have a supply kit ready. Also important, ensure your home is structurally sound to withstand intense winds and rain. Taking steps now to reinforce a roof covering or protect an exterior window could mean the difference between saving money in the long run and dealing with major property damage. That is why I am introducing the SHELTER Act, to provide tax credits to encourage people to stormproof their homes and properties. This legislation is about helping our communities be proactive when it comes to preparing for hurricane season. Our local emergency managers in Pasco, Pinellas, and Hillsborough Counties do an incredible job of ensuring our communities are ready. But preparedness must also begin at home.
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CREATING OPPORTUNITY FOR ALL AMERICANS (Mr. YODER asked and was given permission to address the House for 1 minute and to revise and extend his remarks.) Mr. YODER. Mr. Speaker, today the House will take up and consider an important bill that will help create opportunity for all Americans: the Financial CHOICE Act. The Financial CHOICE Act repeals the most harmful aspects of the DoddFrank legislation that halted the flow of capital to our constituents, destroyed small community banks, frustrated small businesses, and generally made life harder for Americans. The Financial CHOICE Act provides relief to Main Street businesses that had nothing to do with the 2008 financial crisis, but were slammed with onerous and unnecessary regulations anyway. Mr. Speaker, we need smart regulations that protect consumers and make our markets less risky. In many cases, Dodd-Frank did the opposite, and this has been a wet blanket on the economy, destroying jobs and opportunities for millions of Americans. Importantly, Mr. Speaker, the bill also ends government bailouts for large banks considered too big to fail once and for all. It will cut our deficits by $25 billion and finally subject the Federal Reserve to a proper audit. Mr. Speaker, above all, our bill promotes economic growth so that all Americans can have the freedom and ability to get the job they want, create
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b 1230 FRANCISCAN COMMUNITY DEPARTS CONWELL-EGAN (Mr. FITZPATRICK asked and was given permission to address the House for 1 minute.) Mr. FITZPATRICK. Mr. Speaker, over the last 60 years, the Franciscan Friars shaped the lives of many students and families that have passed through the halls of Conwell-Egan Catholic High School in lower Bucks County. It is with a heavy heart that I rise today to announce the departure of the Franciscan community from Conwell-Egan. If you went to Egan like me, then you knew Father Fidelis and Brother Larry. Their service and the service of more than 150 other Friars who have ministered there have brought profound grace and enrichment to the lives of so many young men and women throughout lower Bucks County. The Franciscan Order at ConwellEgan reinforced the school mission of building character through service, achieving academic excellence, and demonstrating a commitment to a life full of learning. Myself, my family, and the entire lower Bucks County community are forever grateful for their continuous guidance and their continuous support. As we say good-bye to these exemplary individuals, true representatives of St.
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REPEAL OF CONSUMER PROTECTIONS IS NOT WHAT AMERICAN PEOPLE WANT (Ms. KAPTUR asked and was given permission to address the House for 1 minute.) Ms. KAPTUR. Mr. Speaker, I rise today to oppose the Financial CHOICE Act, which abandons the American people, as well as safety and soundness, in favor of Wall Street. Six megabanks now control twothirds of the financial sector in our country and reaped record profits of over $170 billion in 2016. That is too much power in too few hands. Current law has made progress in protecting consumers from predatory practices. Repeal of these consumer protections is not what the American people want. This week, Congressman JONES and I propose to table the current legislation and replace it with our bipartisan bill, the Prudent Banking Act, which reinstates Glass-Steagall protections by separating prudent banking from risky Wall Street speculation that tanked our economy in 2008. The Rules Committee refused to allow our bill a vote. Nevertheless, we remain resolute. Glass-Steagall is something President Trump ran on, as did BERNIE SANDERS, and, in 2016, both the Republican and Democratic platforms enshrined policies to restore GlassSteagall protections. Americans should know there is a growing bipartisan consensus fighting to protect the progress we have made, rein in Wall Street, and keep the wolves at bay and out of your pocketbook. I will be voting ‘‘no’’ on this bill and urge my colleagues to do the same. f
HONORING THE LIFE OF LESLIE SPAETH (Mr. CHABOT asked and was given permission to address the House for 1 minute.) Mr. CHABOT. Mr. Speaker, I rise today to honor a beloved Warren County, Ohio, icon, Leslie Spaeth, who passed away recently at the age of 92. Mr. Spaeth was a dedicated husband and father and grandfather and greatgrandfather. What made him so special was his dedication, not only to his family, but also to his community and to his country. Leslie Spaeth first served his Nation as a corporal during World War II. Throughout his life, he continued to serve our community as a volunteer firefighter, as president of the Mason Council, as Warren County Auditor, as a member of the Warren County Board of Elections, and, finally, as the Warren County chairman of the Republican Party. In his personal time, he bettered the lives of those around him, volunteering
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