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YOU CAN SEE ALL THIS HEARING IN
THE C-SPAN VIDEO LIBRARY.
GO TO C-SPAN.ORG.
LIVE, NOW, TO THE U.S. SENATE.
LAWMAKERS RETURNING FROM THEIR
WEEKLY PARTY LUNCH MEETINGS TO
CONTINUE DEBATE ON EXTENDING A
FOOD AND TRUCK ADMINISTRATION
USER FEE THAT FUNDS FDA REVIEWS
OF PRESCRIPTION DRUGS AND
MEDICAL DEVICES.
AND NOW, LIVE TOTH THE SENATE
FLOOR.
THE CLERK WILL CALL THE ROLL.
WE HAVE HARKIN AND
MURRAY BUT THEY'RE NOT HERE.
I WAS GOING TO
DEFER TO SENATOR HARKIN AND
SENATOR MURRAY.
THEY OBVIOUSLY ARE NOT
PROMPT, LIKE YOU AND ME.
[LAUGHTER]
WELL, WE HAVE GOOD HABITS.
IT'S THE SENATOR'S
CHOICE AS TO WHETHER HE WANTS TO
WAIT FOR THEM.
PLEASE GO AHEAD.
THANK YOU.
I THANK THE MAJORITY LEADER.
SENATOR FROM TENNESSEE.
MR. PRESIDENT, I
WILL.
WE ARE -- AND I THANK THE
THIS BILL UP.
HE AND THE REPUBLICAN LEADER
HAVE PUT ON THE FLOOR A PIECE OF
LEGISLATION THAT AFFECTS NEARLY
EVERY AMERICAN FAMILY.
NOW, THIS WON'T HAVE THE FIRE
WORKS THAT SOME THINGS WE DO HAS
BECAUSE WE HAVE A LOT OF
AGREEMENT ABOUT IT WHICH IS ONE
REASON IT'S ON THE FLOOR.
IT'S GONE THROUGH THE
SENATOR HARKIN AND SENATOR ENZI
HAVE WORKED CAREFULLY WITH ALL
THE REPUBLICANS, ALL THE
DEMOCRATS ON THE COMMITTEES AND
MANY OTHER PEOPLE ON A COMPLEX
PIECE OF LEGISLATION FOR A YEAR
TO PUT ON THE FLOOR LEGISLATION
THAT WOULD HELP MADE AND FOOD
AND DRUG ADMINISTRATION SAFETY
AND INNOVATION ACT A BILL THAT'S
LIKELY TO SUCCEED.
FOR GRANTED OUR
MEDICINES, MR. PRESIDENT.
DURING THE CIVIL WAR, THE
CAPITAL WAS -- THE CAPITOL WAS
USED AS A HOSPITAL, THIS
2,000 COTS WERE SET UP IN THE
HOUSE AND SENATE CHAMBERS AND
THE ROTUNDA.
THE FIRST GROUP OF WOUNDED
ARRIVED FROM THE SECOND BATTLE
OF BULL RUN AND LATER FROM
ANTIETUM IN SEPTEMBER IN 1862.
THOSE SOLDIERS DIDN'T HAVE THE
BENEFIT OF ANTIBIOTICS OR OR
MODERN MEDICINE AS THAT WE TAKE
FOR GRANTED TODAY AND THAT IS
WHY THERE WAS SUCH A WHOLE
NUMBER OF DEATHS IN THE CIVIL
WAR.
STILL, AS THE 20th CENTURY
DAWNED, DISEASE CAST A LONG
SHADOW OVER THE UNITED STATES OF
AMERICA.
A CHILD BORN IN 1900 COULD
EXPECT TO LIVE AN AVERAGE 47
YEARS.
AND INFECTIOUS DISEASES TOOK
MANY CHILDREN BEFORE THEY
REACHED THEIR TEENS.
IN 1900, PNEUMONIA AND INFLUENCE INFLUENZA
WERE THE LEADING CAUSES OF
DEATH, FOLLOWED BY TO CLERK
LOASES AND DO REA --
TUBERCULOSIS AND DIARRHEA.
PHYSICIANS HAVE FEW WEAPONS TO
FIGHT DISEASES.
THE MEDICINES AT THE TIME
INCLUDED SUCH THINGS AS MERCURY
FOR SYPHILIS AND RINGWORM,
DIGITILIS AND QUIE NINE FOR
MALARIA, PLANT-BASED PERGATIVES.
FOR MOST OF HISTORY, DIABETES
MEANT DEATH BUT INSULIN WAS
INTRODUCED IN 1923 COMMERCIALLY
AND WITHIN A FEW YEARS, ENOUGH
INSULIN WAS BEING PRODUCED TO
MEET THE NEEDS OF DIABETES
PATIENTS AROUND THE WORLD.
IT IS HARD TO REMEMBER THIS BUT
VACCINES BEGAN TO BE
COMMERCIALLY PRODUCED ONLY
DURING THE TIME OF WORLD WAR I
AND IT WAS NOT UNTIL THE TIME OF
WORLD WAR II THAT WE SAW THE
INTRODUCTION OF WIDESPREAD AND
EFFECTIVE THERAPIES WITH THE
DEVELOPMENT AND MASS PRODUCTION
OF PENICILLIN.
AND SINCE THEN, THE SKY HAS
SEEMED TO BE THE LIMIT.
HALF OF AMERICANS TAKE AT LEAST
ONE PRESCRIPTION DRUG EVERYDAY.
TAKE THREE OR MORE.
AND MANY TAKE OVER-THE-COUNTER
MEDICINES.
IT IS A REAL MIRACLE WHAT HAS
HAPPENED IN TERMS OF OUR LIVES
WITH THE INTRODUCTIONS OF
MEDICINES.
AND WE RELY UPON THE FOOD AND
DRUG ADMINISTRATION TO KEEP
THOSE MEDICINES SAFE AND
EFFECTIVE, WHICH IS WHAT THIS
LEGISLATION IS ABOUT.
I WOULD LIKE TO RENEW MY
COMPLIMENTS TO SENATOR HARKIN
AND SENATOR ENZI FOR BRINGING
THIS BILL TO THE FLOOR IN A
CONDITION WHERE THEY HAVE
ISSUES.
THIS BILL IS COMPLEX, IT'S LONG.
IT HAS 11 TITLES.
IT WILL HELP SAFE AND EFFECTIVE
DRUGS.
IT WILL MAKE MEDICAL DEVICES AND
BIOSIMILAR PRODUCTS GET TO
MARKET.
AND, MORE IMPORTANT, GET THEM TO
THE MARKET QUICKLY SO PEOPLE WHO
NEED HELP CAN USE THE MEDICINES.
WE'RE REAUTHORIZING TWO USER
THESE THINGS HAVE ABSURD NAMES
LIKE THE PRESCRIPTION DRUG USER
FEE ACT IS CALLED PDUFA AND THE
MEDICAL DEVICE USER FEE
MODERNIZATION ACT IS CALLED
AND THERE ARE TWO NEW ONES WHICH
ARE GDUFA AND PSUFA.
THESE ARE ABSURD AND I PROMISE
NEVER AGAIN TO USE THOSE PHRASES
FOR THESE USER FEE PROGRAMS, BUT
THEY'RE CRITICALLY IMPORTANT
PROGRAMS THAT GIVE THE FOOD AND
DRUG ADMINISTRATION NEEDED
RESOURCES TO REVIEW NEW
MEDICALLY NECESSARY PRODUCTS.
FOR EXAMPLE, THERE'S THE BETTER
PHARMACEUTICAL FOR CHILDREN
CHILDREN'S ACT.
IT'S A PART OF WHAT WE'RE DOING
THIS WEEK.
I'VE WORKED ON IT, COSPONSORED
IT WITH SENATORS REED OF RHODE
ISLAND, MURRAY AND ROBERTS, AND
I THANK THEM FOR THE ABILITY TO
WORK WITH THEM ON THIS.
THIS MAKES PERMANENT THE BEST
PHARMACEUTICALS FOR CHILDREN ACT
AND THE PEDIATRIC RESEARCH
EQUITY ACT IS REAUTHORIZED.
IS AN INCENTIVE AND ONE
REQUIRES PHARMACEUTICALS TO --
WHEN THEY -- WHEN THEY DEVELOP
NEW DRUGS FOR ADULTS, THEY
FIGURE OUT THE EFFECT THAT THOSE
DRUGS WILL HAVE ON CHILDREN.
TOO OFTEN WE DON'T KNOW THE
ANSWER TO THAT AND THE DRUGS ARE
EITHER INEFFECTIVE OR -- OR --
SOMETIME.
THIS IS A VERY IMPORTANT PART OF
THE BILL.
ANOTHER IMPORTANT PART OF THE
BILL HAS TO DO WITH MEDICAL
DEVICES.
THE UNITED STATES IS A WORLD
LEADER IN MEDICAL DEVICES.
IN TENNESSEE, WE HAVE LOTS OF
THEM, ESPECIALLY IN MEMPHIS.
WE NEED TO IMPROVE THE
REGULATORY PROCESS.
THERE ARE MANY WHO BELIEVE THE
F.D.A. IS OVERREGULATING MEDICAL
DEVICES.
THAT HAS A NEGATIVE EFFECT ON
THE INDUSTRY'S ABILITY TO RAISE
CAPITAL, CREATE JOBS, DOESN'T
MAKE THOSE DEVICES AVAILABLE,
MOST IMPORTANTLY, IN THE U.S.
AND IN EUROPE.
THIS WILL HELP ADDRESS THOSE
FOR EXAMPLE, IT WILL ALLOW
CUSTOMIZATION OF MEDICAL DEVICES
POPULATIONS.
THAT MEANS FIVE PEOPLE OR LESS
WITHOUT GOING THROUGH A VERY
BURDENSOME APPROVAL PROCESS.
AND IT CHANGES THE HUMANITARIAN
DEVICE EXEMPTION TO ENCOURAGE
AND INCENT THE DEVELOPMENT OF
DEVICES TO TREAT PATIENTS WITH
RARE DISEASES.
THAT WOULD BE GROUPS OF PATIENTS
OF LESS THAN 4,000 PEOPLE.
THERE'S ANOTHER PROBLEM THAT'S
ADDRESSED IN THIS LEGISLATION.
IT'S THE GENERATION OF
ANTIBIOTIC -- DEALING WITH
ANTIBIOTIC RESISTANCE.
WE KNOW THERE'S A GROWING
PROBLEM WITH RESISTANCE BY -- AS
BACTERIA CONTINUOUSLY MUTATE AND
INVOLVE IN THEIR RESISTANCE TO
THE DRUGS AND THE MEDICINES THAT
WE -- WE DEVELOP.
AND WHILE EFFORTS HAVE BEEN MADE
TO PRESERVE EXISTING
ANTIBIOTICS, DRUG DEVELOPMENT
HASN'T KEPT UP WITH THE PACE.
THESE CHANGES WILL PROVIDE
MEANINGFUL MARKET INCENTIVES AND
REDUCE REGULATORY BURDENS.
IN ADDITION, I'M VERY PLEASED
RESULTS OF OUR WORK ON
DRUG SHORTAGES ON -- ON DEALING
WITH DRUG SHORTAGES THAT.
IS A PART OF THIS BILL.
IT WILL GIVE THE F.D.A.
ADDITIONAL TOOLS TO HELP PREVENT
DRUG SHORTAGES AND REQUIRE
F.D.A. TO LOOK INTERNALLY AT
REGULATIONS TO SEE IF THE F.D.A.
IS MAKING THE PROBLEM WORSE.
SENATOR CASEY AND I WORKED
TOGETHER ON A REVIEW OF FEDERAL
INITIATIVES TO COMBAT
PRESCRIPTION DRUG ABUSE AND TO
ISSUE A REPORT ON THAT.
TENNESSEE, OUR STATE RANKS
SECOND IN THE NATION FOR
PRESCRIPTION DRUG USE.
OUR GOVERNOR, BILL HASLEM, AND
OUR LEGISLATURE TOOK ACTION THIS
YEAR TO DEAL WITH THAT.
WE INTEND TO HELP THEM.
IN CLOSING, I'D LIKE TO COMMEND
SENATORS HARKIN AND ENZI.
I SEE THE SENATOR FROM
WASHINGTON ON THE FLOOR.
I DON'T WANT TO TAKE MUCH MORE
TIME BECAUSE I KNOW SHE'S ABOUT
TO SPEAK.
SHE'S BEEN INTEGRALLY INVOLVED
IN THE DEVELOPMENT OF THIS
OVER THE
LAST YEAR, ESPECIALLY THE BETTER
PHARMACEUTICALS AND DEVICES FOR
CHILDREN ACT.
I MENTIONED THAT A LITTLE
EARLIER.
IT INCENTIVIZES DRUG USERS TO
STUDY THEIR PRODUCTS AND HOW
THEY AFFECT CHILDREN AND, IN
RETURN, THEY GET TO KEEP THE
EXCLUSIVE USE OF THOSE PRODUCTS
FOR A LITTLE WHILE LONGER.
THAT MEANS THEY DON'T GO TO
GENERICS QUITE AS QUICKLY.
THAT HAS BEEN TRIED IN THIS
LEGISLATION SINCE IT WAS FIRST
AUTHORIZED AND REAUTHORIZED AND
REAUTHORIZED AND IT HAS WORKED.
IT HAS BEEN A VERY GOOD EXAMPLE
OF AN INNOVATION IN LEGISLATION
THAT HAS ACHIEVED THE DESIRED
RESULT.
THE PEDIATRIC RESEARCH EQUITY
ACT GIVES THE F.D.A. AUTHORITY
TO REQUIRE PEDIATRIC STUDIES IN
SOME CASES AND THEN TO DO THE
SAME BY PROMOTING THE
DEVICES.
SO THE IMPORTANCE OF THE
LEGISLATION IS IT TAKES A BIG
STEP FORWARD IN MAKING IT CLEAR
WHAT DRUGS THAT ARE CREATED FOR
ADULTS WILL DO WHEN OFFERED OR
PROVIDED TO CHILDREN.
CURRENTLY, JUST UNDER HALF OF
THE DRUGS PRESCRIBED TO CHILDREN
HAVE BEEN STUDIED AND LABELED
FOR CHILDREN, BUT THAT'S A
SIGNIFICANT IMPROVEMENT OVER
WHERE WE WERE WHEN THESE
PROGRAMS STARTED JUST A FEW
YEARS AGO.
CHILDREN'S BODIES REACT VERY
DIFFERENTLY TO MEDICINES.
SOMETIMES SIDE EFFECTS ARE
PHYSICIANS HAVE TO GUESS WHAT
DOSAGES ARE APPROPRIATE, WHETHER
A THERAPY IS -- THAT MIGHT BE
EFFECTIVE FOR AN ADULT IS ALSO
EFFECTIVE FOR A CHILD.
SOMETIMES THERE ARE EXAMPLES OF
OF -- OF OVERDOSING OR
PREVIOUSLY UNKNOWN SIDE EFFECTS.
IN ONE CASE IN TENNESSEE IN
1999, TENNESSEE -- SEVEN BABIES
AN ANTIBIOTIC TO
TREAT WHOOPING COUGH.
THEY BECAME SO SERIOUSLY ILL,
THEY NEEDED STOMACH SURGERY.
AND THE C.D.C., CENTER FOR
DISEASE CONTROL, LATER LINKED
THEIR ILLNESS TO THE ANTIBIOTIC
WHICH HAD NEVER BEEN TESTED IN
YOUNG CHILDREN.
PRIOR TO THE PASSAGE OF THESE
LAWS THAT WE'RE WORKING ON TODAY
AND REAUTHORIZING, 80% OF DRUGS
USED FOR CHILDREN WERE USED OFF
THAT WAS, WE DIDN'T REALLY KNOW
HOW THEY AFFECTED CHILDREN.
NOW WE CAN USE THOSE DRUGS, HALF
OF OUR DRUGS TODAY, SAFELY AND
EFFECTIVELY BECAUSE WE DO KNOW
KNOW -- WE DO KNOW THAT.
SO I'M HAPPY TO COME HERE TODAY
TO -- TO JOIN WITH SENATOR
MURRAY, SENATOR HARKIN, SENATOR
ENZI, SENATOR REED OF RHODE
ISLAND, SENATOR -- SENATOR
ROBERTS TO OFFER WHAT I BELIEVE
IS A PIECE OF LEGISLATION THAT
AFFECTS EVERY AMERICAN FAMILY.
IT TAKES ONE MORE STEP IN THE
DRAMATIC STORY OF HOW WE HAVE
GONE FROM A COUNTRY WITH ALMOST
NO MEDICINES TO A COUNTRY WHERE
ALMOST EVERYONE TAKES SOME
MEDICINE AND A SITUATION
WHERE -- WHERE THE LIFETIME OF
THE AVERAGE AMERICAN HAS
INCREASED FROM 47 YEARS OF AGE
TO ITS PRESENT LEVEL TODAY.
I SEE THE SENATOR FROM
WASHINGTON ON THE FLOOR.
I WANT TO RECOGNIZE AND THANK
HER FOR HER LEADERSHIP ON THE
LEGISLATION.
MR. PRESIDENT, I YIELD THE
FLOOR.
MR. PRESIDENT?
SENATOR FROM WASHINGTON.
THANK YOU,
MR. PRESIDENT.
AND I, TOO, WANT TO THANK THE
SENATOR FROM TENNESSEE, AS HE
REFERRED TO HOW WE WORKED
TOGETHER ON A BIPARTISAN BASIS
ON THE BETTER PHARMACEUTICALS
AND DEVICES FOR CHILDREN ACT, A
VERY CRITICAL PIECE OF THIS
LEGISLATION THAT I WILL TALK
WELL.
BUT I WANT TO THANK HIM FOR
WORKING WITH US.
AND REALLY, I WANT TO THANK ALL
THE SENATORS WHO WORKED VERY
ON THIS PIECE OF
LEGISLATION.
WORKING WITH STAKEHOLDERS AND
ADVOCATES FOR OVER A YEAR ON THE
BILL THAT WILL BE ON THE FLOOR
LATER THIS AFTERNOON.
I REALLY WANT TO COMMEND
CHAIRMAN HARKIN AS WELL AS
RANKING MEMBER ENZI FOR WORKING
TOGETHER IN A BIPARTISAN FASHION
TO GET THIS TO THE FLOOR TODAY.
-- THIS BILL TO THE FLOOR TODAY.
AND I HOPE ALL OF OUR COLLEAGUES
REALLY UNDERSTAND THE CRITICAL
IMPORTANCE OF MOVING FORWARD
WITH THIS BILL AS EFFICIENTLY AS
POSSIBLE, BECAUSE, AS MANY
PEOPLE KNOW, IF WE DO NOT MAKE
THIS LEGISLATION A PRIORITY, BY
THE END OF SEPTEMBER, OVER 2,000
EMPLOYEES AT FOOD AND DRUG
ADMINISTRATION ARE GOING TO BE
SENT PACKING WITH PINK SLIPS.
BUT WHAT'S JUST AS IMPORTANT, IF
WANT MORE IMPORTANT, IS FAILURE
TO PASS THIS LEGISLATION WILL
PUT DRUG AND MEDICAL DEVICE
APPROVAL AT A STANDSTILL.
THAT WILL NOT ONLY HALT
INNOVATION BUT IT WILL PUT THE
LIVES OF MANY AMERICANS AT RISK
WHILE THEY WAIT FOR POTENTIALLY
LIFESAVING MEDICINES.
NO ONE KNOWS THAT MORE -- THE
IMPORTANCE OF THAT -- THAN
SEATTLE GENETICS, A COMPANY IN
MY HOME STATE OF WASHINGTON.
IN AUGUST OF LAST YEAR, THE
SEATTLE GENETICS RECEIVED F.D.A.
ACCELERATED APPROVAL OF A DRUG
INTENDED TO TREAT HODGE KIN
LYMPHOMA, THE FIRST OF ITS KIND
APPROVED BY THE F.D.A. IN MORE
THAN 30 YEARS.
AS A BIOTECH COMPANY, SEATTLE
GENETICS' RELATIONSHIP WITH THE
F.D.A. WAS REALLY VITAL TO THE
WORK THEY WERE DOING TO BRING
THIS DRUG TO PATIENTS WHO WERE
IN NEED.
ULTIMATELY, SEATTLE GENETICS
RECEIVED F.D.A. APPROVAL 11 DAYS
EARLIER THAN EXPECTED AND THAT
MEANT THEY WERE ABLE TO
ANTICIPATE THE TIMING OF ITS
APPROVAL, ORGANIZE THEIR SALES
TEAMS AND SHIP THE FIRST
BUSINESS DAY FOLLOWING APPROVAL
FOR A PATIENT ALREADY WAITING
FOR THAT CRITICAL DRUG.
MR. PRESIDENT, THAT KIND OF
COLLABORATION WOULD NOT HAVE
BEEN POSSIBLE HAD THE F.D.A.
LACKED THE RESOURCES NECESSARY
TO MAKE IT A REALITY.
AND I BELIEVE THAT CLAY SEGAL,
PRESIDENT AND C.E.O.
OF SEATTLE GENETICS, WAS TRULY
ABLE TO UNDERSCORE THE ISSUE OF
WHAT WE'RE DISCUSSING HERE
TODAY -- AND I WANT TO TELL YOU
WHAT HE SAID -- AND I QUOTE --
"IT IS ONLY THROUGH WORKING WITH
AN F.D.A. THAT HAS THE RESOURCES
AND DEDICATION TO ACHIEVE
THOROUGH AND TIMELY REVIEWS THAT
WE ARE ABLE TO FULFILL OUR
PROMISE TO IMPROVE THE LIVES OF
PEOPLE THROUGH INNOVATION."
PASSAGE OF THIS BILL HELPS TO
PROVIDE BOTH THE RESOURCES AND
INCENTIVES FOR F.D.A. TO RAPIDLY
REVIEW AND APPROVE IMPORTANT
THERAPEUTIC BREAKTHROUGHS FOR
PATIENTS IN NEED.
THAT HIGHLIGHTS THE IMPORTANCE
OF THIS LEGISLATION,
MR. PRESIDENT.
BUT I ALSO WANT TO HIGHLIGHT
ANOTHER PART OF THIS BILL THAT
I'VE BEEN VERY FOCUSED ON, THAT
THE SENATOR OF TENNESSEE JUST
TALKED ABOUT, AND THAT IS THE
NEED MAKE SURE THAT DRUGS AND
MEDICAL DEVICES ARE SPECIFICALLY
TESTED AND LABELED AND PROVEN TO
CHILDREN.
THIS IS SO IMPORTANT FOR
FAMILIES AND DOCTORS ACROSS
AMERICA, SO I REALLY WANT TO
THANK CHAIRMAN HARKIN AS WELL AS
RANKING MEMBER ENZI FOR
INCLUDING MY BILL, THE BETTER
PHARMACEUTICALS AND DEVICES FOR
CHILDREN ACT IN THE LEGISLATION
THAT WE ARE CONSIDERING TODAY.
I WAS VERY PROUD TO WORK WITH
SENATOR ALEXANDER ALONG WITH
SENATORS REID AND ROBERTS TO PUT
TOGETHER IN COMMONSENSE
THIS BIPARTISAN LANGUAGE WILL
MAKE SURE OUR CHILDREN ARE
PRIORITIZED IN THE DRUG
DEVELOPMENT PROCESS AND THAT
DRUG LABELS PROVIDE CLEAR,
DETAILED INFORMATION ABOUT THE
PROPER USE AND DOSAGE OF
MEDICATIONS FOR CHILDREN.
IT WILL GIVE PARENTS AND DOCTORS
MORE INFORMATION AND MAKE SURE
THE KEY PROGRAMS WE COUNT ON TO
PROTECT OUR CHILDREN DO NOT
AND IT'LL PUSH TO MAKE SURE
CHILDREN ARE NEVER JUST AN
AFTER-THOUGHT WHEN THIS COMES TO
THE SAFETY AND EFFECTIVENESS OF
OUR NATION'S DRUGS AND MEDICAL
SO, MR. PRESIDENT, AS YOU HAVE
TODAY, THIS IS A BILL
THAT HAS RECEIVED BIPARTISAN
I WANT TO COMMEND ALL THE
SENATORS WHO HAVE WORKED ON THIS
IN A BIPARTISAN WAY.
WE DON'T GET CREDIT ENOUGH FOR
THAT HERE IN THIS COUNTRY.
BUT THIS IS CERTAINLY ONE WHERE
EVERYONE CAME TOGETHER WORKED
TOGETHER IN OUR COMMITTEE, AND
THIS BILL REALLY HOLDS THE
LIVELIHOOD OF SO MANY AMERICANS
IN ITS BALANCE.
I URGE THE SENATE TO MOVE
FORWARD QUICKLY AND SUPPORT THE
LEGISLATION AND GET IT PASSED.
THANK YOU, MR. PRESIDENT.
I YIELD THE FLOOR, AND I SUGGEST
THE ABSENCE OF A QUORUM.
THE
CLERK WILL CALL THE ROLL.
QUORUM CALL:
THE
SENATOR FROM ILLINOIS.
I ASK THAT THE
QUORUM CALL BE SUSPENDED.
OBJECTION.
I ASK UNANIMOUS
CONSENT TO SPEAK IN MORNING
OBJECTION.
IS 1 YEARS AGO I
INTRODUCED THE DREAM ABLGHT,
LEGISLATION THAT WOULD ALLOW A
SELECT GROUP OF IMMIGRANT
STUDENTS WITH GREAT POTENTIAL TO
CONTRIBUTE MORE FULLY TO
AMERICA.
THE DREAM ACT IS NOT AN AMNESTY
BILL.
IT WOULD GIVE STUDENTS A CHANCE
TO EARN LEGAL STATUS IN AMERICA.
AND THERE ARE STANDARDS THAT
THEY HAVE TO LIVE UP TO.
ONE, THEY CAME TO THE UNITED
STATES AS CHILDREN.
NORMNUMBER TWO, THEY'VE BEEN
RESIDENTS.
NUMBER THREE, GOOD MORAL
SCHOOL.
AND, NUMBER FIVE, EITHER SERVE
IN AMERICA'S MILITARY OR
COMPLETE TWO YEARS OF COLLEGE.
THE DREAM ACT ALSO INCLUDES
RESTRICTIONS TO
UNDER THE DREAM ACT, NO ONE
WOULD BE ELIGIBLE FOR PELL
GRANTS OR ANY OTHER FEDERAL
GRANTS WHEN THEY WENT TO THE
SCHOOL, AND INDIVIDUALS WHO
COMMIT FRAUD UNDER THE DREAM ACT
-- WHO LIE, MISREPRESENT THEIR
STATUS -- WOULD BE SUBJECT TO
TOUGH FINES AND CRIMINAL
PENALTIES INCLUDING A PRISON
SENTENCE OF UP TO TWO YEARS.
IT IS SERIOUS.
NO ONE WOULD BE ELIGIBLE FOR THE
DREAM ACT UNLESS THEY ARRIVED IN
THE UNITED STATES AT LEAST FIVE
YEARS BEFORE THE BILL BECOMES
NESS NO EXCEPTION -- THERE IS NO EXCEPTION
AND NO WAIVER.
MY COLLEAGUE FROM FLORIDA,
SENATOR MARCO RUBIO, SAID IN A
RECENT SPEECH THAT THE DREAM ACT
IS NOT AN IMMIGRATION ISSUE;
IT'S A HUMANITARIAN ISSUE.
I MIGHT ADD THAT I THINK IT IS
AN ISSUE OF JUSTICE.
THOUSANDS OF IMMIGRANT STUDENTS
IN THE UNITED STATES WERE
BROUGHT HERE AS CHILDREN.
THEY DIDN'T MAKE A DECISION AT
THE AGE OF TWO TO COME TO
AMERICA.
IT WAS NOT THEIR DECISION COME
TO HERE, BUT THEY GREW UP HERE.
THEY WENT TO SCHOOL HERE.
THEY STOOD UP IN CLASSROOMS
ACROSS AMERICA, PLEDGING
ALLEGIANCE TO THE ONLY FLAG THEY
EVER KNEW, SINGINGS "THE STAR
SPANGLED BANNER" BELIEVING THEY
WERE PART OF AMERICA.
THE FUNDAMENTAL PRESIDENT PREMISE OF THE
DREAM ACT IS THAT WE SHOULDN'T
PUNISH CHILDREN FOR THEIR
PARENTS' ACTIONS.
IT IS NOT THE AMERICAN WAY.
THE DREAM ACT SAYS TO THESE
STUDENTS, WE'RE GOING TO GIVE
YOU A CHANCE.
NOW, THESE DREAMERS -- AND I
HAVE COME TO KNOW THEM -- DON'T
WANT A FREE PASS.
ALL THEY WANT IS A CHANCE TO
EARN THEIR PLACE IN AMERICA.
THAT'S WHAT THE DREAM ACT WOULD
GIVE THEM.
THE DREAM ACT JUST ISN'T THE
RIGHT THING TO DO.
IT THE WOULD MAKE AMERICA A
STRONGER COUNTRY BY GIVING THESE
TALENTED YOUNG PEOPLE A CHANCE
TO SERVE IN OUR MILITARY AND TO
CONTRIBUTE TO OUR FUTURE.
TENS OF THOUSANDS OF HIGHLY
QUALIFIED, WELL-EDUCATED YOUNG
PEOPLE WOULD ENLIST IN THE ARMED
FORCES.
THAT'S WHY WE END UP WITH THE
SUPPORT OF PEOPLE LIKE GENERAL
COLIN POWELL.
HERE IS A MAN WHO HAS GIVEN HIS
LIFE TO AMERICA AND THE SECURITY
OF AMERICA.
HE SAYS THE DREAM ACT IS THE
RIGHT THING TO DO FOR THE FUTURE
OF AMERICA.
THE
STUDIES FOUND DEEM ACT
PARTICIPANTS WOULD CONTRIBUTE
LITERALLY TRILLIONS OF DOLLARS
TO THE U.S. ECONOMY DURING THEIR
WORKING LIVES.
YOU MIGHT WONDER HOW AN IDEA
LIKE THAT ENDS UP BECOMING A
BILL AND BEING DEBATED NOT ONLY
ON THE FLOOR OF THE SENATE AND
THE HOUSE, BUT BECOMING A
SUBJECT OF DEBATE IN THE
PRESIDENTIAL CONTEST NOW GOING
IT STARTED WITH A PHONE CALL, A
PHONE CALL TO MY OFFICE ABOUT 11
YEARS AGO FROM A WOMAN NAMED
DUFFY ADELSON.
DUFFY IS THE DIRECTOR OF THE
MERIT MUSIC PROGRAM IN CHICAGO.
THE MERIT MUSIC PROGRAM IS AN
AMAZING PROGRAM WHICH OFFERS TO
CHILDREN IN THE PUBLIC SCHOOLS
OF CHICAGO AN OPPORTUNITY TO
LEARN TO PLAY A MUSICAL
INSTRUMENT.
THAT PROGRAM GOES TO THE POOREST
SCHOOLS AND ASKS CHILDREN IF
THEY'RE INTERESTED, IF THEY
WOULD LIKE TO HAVE AN INSTRUMENT
AND A CHANCE TO LEARN.
THE CHILDREN SIGN UP, AND
AMAZING THINGS HAPPEN.
THESE KIDS, 100% OF THEM END UP
IN COLLEGE.
THAT'S WHAT THAT ONE LIFE
EXPERIENCE OF LEARNING TO PLAY
MUSIC CAN DO.
SHE CALLED ME ABOUT A YOUNG
SHE WAS A KOREAN.
SHE HAD BEEN BROUGHT TO AMERICA
AT THE AGE OF TWO.
HER MOTHER AND FATHER BECAME
HER TWO BROTHERS -- HER BROTHER
AND SISTER BORN HERE WERE
AUTOMATICALLY CITIZENS, BUT SHE
WAS NOT.
SHE JOINED THE MERIT MUSIC
PROGRAM AND TURNED OUT TO BE AN
ACCOMPLISHED PIANIST TO THE
POINT WHERE SHE WAS GRADUATING
HIGH SCHOOL AND WAS BEING
OFFERED SCHOLARSHIPS TO THE BEST
MUSIC ACADEMIES IN THE UNITED
STATES.
WHEN HER MOM SAT DOWN WITH HER
TO FILL OUT THE APPLICATION,
THERE WAS A LITTLE BOX THAT SAID
CITIZENSHIP.
AND SHE TURNED TO HER MOM AND
THERE?
HER MOM SAID I BROUGHT YOU HERE
AT THE AGE OF TWO ON A VISITOR'S
VISA, AND SINCE YOU WERE A
MORE PAPERS.
THERE.
THE GIRL SAID WHAT ARE WE GOING
TO DO?
AND HER MOM SAID WE'RE GOING TO
CALL DURBIN.
SO THEY CALLED MY OFFICE, AND WE
CHECKED THE LAW, AND THE LAW
TURNED OUT TO BE PRETTY HARSH.
THE LAW SAID THAT THIS
18-YEAR-OLD GIRL WHO HAD NEVER
LIVED, TO HER KNOWLEDGE, ANY
OTHER PLACE BUT AMERICA, HAD TO
LEAVE AMERICA FOR TEN YEARS AND
THEN APPLY TO COME BACK.
IT DIDN'T SEEM RIGHT.
SHE CAME HERE AT THE AGE OF TWO.
SHE HAD DONE NOTHING WRONG.
SO I INTRODUCED THE DREAM ACT.
WELL, HERE'S THE REST OF THE
STORY ABOUT THIS YOUNG LADY
WHOSE NAME IS THERESA LEE.
THE
MANHATTAN CONSERVATORY OF MUSIC.
WHEN SHE WENT THERE, SHE TURNED
OUT TO BE JUST AS GOOD AS THE
MERIT MUSIC PROGRAM THOUGHT SHE
WOULD BE.
SHE PROGRESSED TO THE POINT
WHERE SHE LITERALLY PLAYED IN
CARNEGIE HALL, AND SHE FOUND A
YOUNG MAN, THEY FELL IN LOVE,
THEY GOT MARRIED, AND SHE BECAME
MARRIAGE.
SHE IS NOW WORKING TOWARD A
Ph.D. IN MUSIC.
SHE IS A BRILLIANT YOUNG WOMAN.
THERE WAS A TALENT THAT WOULD
HAVE BEEN LOST TO US AND LOST TO
THE FUTURE IF WE WOULD HAVE JUST
FOLLOWED THE STRICT STANDARDS OF
THE LAW AT THAT MOMENT.
BUT WE DIDN'T.
WE SAID GIVE HER A CHANCE, AND
SHE PROVED HERSELF.
SHE PROVED THAT SHE'S A QUALITY
WHEN I INTRODUCED THE DREAM ACT,
IT WAS A BIPARTISAN BILL.
THERE WERE REPUBLICAN SENATORS
WHO ACTUALLY DEBATED ME AS TO
WHO WAS GOING TO BE THE LEAD
SPONSOR ON THE BILL, THEY
THOUGHT IT WAS SUCH A GOOD IDEA.
THE DREAM ACT HAS A HISTORY OF
BROAD BIPARTISAN SUPPORT.
WHEN I INTRODUCED IT WITH
OF UTAH, HE
WAS CHAIRMAN OF THE JUDICIARY
COMMITTEE AND HE WAS THE LEAD
WHEN THE REPUBLICANS CONTROLLED
THE SENATE, THE DREAM ACT WAS
REPORTED BY THE JUDICIARY
COMMITTEE ON A 16-3 BIPARTISAN
VOTE, AND ON MAY 25, 2006, SIX
YEARS AGO THIS WEEK THE DREAM
ACT PASSED THE
REPUBLICAN-CONTROLLED SENATE ON
A 62-36 VOTE AS PART OF
COMPREHENSIVE IMMIGRATION
REFORM.
THAT BILL, UNFORTUNATELY, DID
NOT PASS.
UNFORTUNATELY, THE REPUBLICAN
SUPPORT FOR THE DREAM ACT HAS
DIMINISHED OVER THE YEARS.
THE LAST TIME THE DREAM ACT WAS
CONSIDERED ON THE FLOOR OF THE
UNITED STATES SENATE IN 2010,
THE BILL HAD ALREADY PASSED THE
HOUSE AND RECEIVED A STRONG
MAJORITY VOTE THERE, BUT ONLY
EIGHT REPUBLICANS SUPPORTED IT
IN THE HOUSE AND ONLY THREE
REPUBLICANS IN THE SENATE.
A BILL WHICH HAD BEEN SO
BIPARTISAN AND SO POPULAR WAS
NOW BECOMING EACH TIME WE CALLED
IT MORE PARTISAN.
THE BILL HADN'T CHANGED.
POLITICS HAVE CHANGED.
THE VAST MAJORITY OF DEMOCRATS
IN THE HOUSE AND SENATE CONTINUE
TO SUPPORT THE DREAM ACT.
THE REALITY IS WE CAN'T PASS THE
BILL WITHOUT SUBSTANTIAL SUPPORT
FROM MY COLLEAGUES ON THE OTHER
SIDE OF THE AISLE.
THAT'S WHY I'VE ALWAYS SAID I AM
OPEN TO WORKING WITH ANYONE,
REPUBLICAN OR DEMOCRAT, WHO IS
INTERESTED IN WORKING IN GOOD
FAITH TO SOLVE THIS PROBLEM.
I'LL NEVER CLOSE THE DOOR ON THE
POSSIBILITY OF PROVIDING
ASSISTANCE TO THESE DREAM ACT
STUDENTS.
I'VE COME TO THE FLOOR ALMOST
EVERY WEEK FOR THE LAST SEVERAL
YEARS TO TELL THE STORY OF
ANOTHER YOUNG PERSON WHO WOULD
QUALIFY UNDER THE DREAM ACT.
TODAY I WANT TO TELL YOU THE
STORY OF SAHEED LEMONE.
SAHEED WAS BROUGHT TO THE UNITED
STATES FROM BANGLADESH IN 1991
AT THE AGE OF NINE.
HE GREW UP IN DURHAM, NORTH
HIS DREAM WAS TO BECOME A
DOCTOR.
HE ATTENDED SOUTHERN HIGH
SCHOOL, A PRESTIGIOUS MAGNET
SCHOOL FOR YOUNG PEOPLE
INTERESTED IN HEALTH CARE.
HE WAS A MEMBER OF THE NATIONAL
WON HIS HIGH
SCHOOL'S DIAMOND IN THE ROUGH
SCHOLARSHIP AWARD.
ONE OF SAHEED'S TEACHERS SAID IN
THE CLASSROOM HE WAS KIND, VERY
HE SHOWED GREAT INTEREST IN A
CAREER IN MEDICINE.
IN THE MEDICAL COMMUNITY THROUGH
SHADOWING EXPERIENCES, SAHEED
WAS PROFESSIONAL, HIGHLY
MOTIVATED AND CARING WITH
PATIENTS.
SAHEED DIDN'T LEARN ABOUT HIS
IMMIGRATION STATUS UNTIL HIS
SENIOR YEAR IN HIGH SCHOOL.
HE WENT ON TO GRADUATE FROM EAST
CAROLINA UNIVERSITY WITH A
BACHELORS OF SCIENCE IN BIOLOGY
WITH A CONCENTRATION IN
MICROBIOLOGY.
UNDERSTAND HE DIDN'T QUALIFY FOR
ANY FEDERAL LOANS OR FEDERAL
GRANTS.
IT WASN'T EASY TO GET THROUGH
COLLEGE UNDER THOSE
DURING COLLEGE SAHEED SERVED IN
UNDERSERVED RURAL AREAS IN NORTH
CAROLINA AND IT MADE A BIG
IMPRESSION ON HIM.
IN HIS APPLICATION FOR MEDICAL
SCHOOL HE WROTE I WAS SURPRISED
TO SEE SO MANY PEOPLE WOULD LINE
UP DURING A COLD WINTER MORNING
JUST TO KNOW IF THEY WERE
HEALTHY OR NOT.
SEEING THEIR DEDICATION AND
PATIENCE INFLUENCES ME EVERY DAY
TO WORK MY HARDEST IN ORDER TO
MEET MY PERSONAL GOAL: BECOMING
AN EXCEPTIONAL PHYSICIAN.
THAT WAS SEVEN YEARS AGO, 2005.
TODAY SAHEED IS 30 YEARS OLD.
HE'S BEEN UNABLE TO ATTEND
MEDICAL SCHOOL BECAUSE OF HIS
IMMIGRATION STATUS.
SINCE HE GRADUATED FROM COLLEGE,
HE HAS VOLUNTEERED WITH THE
HEALTH CLINIC IN RALEIGH THAT
SERVES LOW-INCOME PATIENTS.
HE HAS TUTORED ELEMENTARY SCHOOL
STUDENTS TO HELP DEVELOP THEIR
INTEREST IN SCIENCE, BUT HIS
PERSONAL DREAM OF BECOMING A
DOCTOR HAS NOT BECOME A REALITY.
SOME OF MY COLLEAGUES HAVE
CRITICIZED THE DREAM ACT BECAUSE
PEOPLE UNDER THE AGE OF 35 ARE
THEY SAY THAT ONLY CHILDREN
SHOULD BE ELIGIBLE FOR THE DREAM
BUT THIS IGNORES THE OBVIOUS.
EVERY YEAR WE WAIT, THOSE
CHILDREN GROW A YEAR OLDER.
IN ORDER TO QUALIFY FOR THE
DREAM ACT, AN INDIVIDUAL MUST
HAVE COME TO THE UNITED STATES
AS A CHILD, AS SAHEED.
TODAY HE'S 30.
THAT DOESN'T CHANGE THE FACT
THAT HE WAS BROUGHT HERE WHEN HE
WAS NINE YEARS OLD.
IT DOESN'T CHANGE THE FACT THAT
HE HAS LIVED IN THE UNITED
STATES VIRTUALLY ALL HIS LIFE.
AND IT DOESN'T CHANGE THE FACT
THAT HE SHOULD NOT BE PUNISHED
FOR THE CHOICES HIS PARENTS
MADE.
SAHEED WAS 19 YEARS OLD WHEN THE
DREAM ACT WAS FIRST INTRODUCED.
WHY SHOULD HE BE PENALIZED BASS
I CAN'T PASS -- BECAUSE I CAN'T
PASS THE BILL.
I KEEP TRYING.
CONGRESS DOESN'T GET IT DONE.
DOES THAT MEAN HIS LIFE SHOULD
BE WASTED?
LAST YEAR SAHEED WAS ARRESTED BY
IMMIGRATION AGENTS AND PLACED
IN DEPORTATION PROCEEDINGS,
DESPITE THE FACT THAT HE'S LIVED
IN THE UNITED STATES FOR 21
YEARS, SINCE HE WAS NINE YEARS
HE WAS HELD IN A COUNTY JAIL
WITH VIOLENT CRIMINALS.
SAHEEED HAS NEVER COMMITTED A
CRIME IN HIS LIFE.
SAHEED SENT ME A LETTER AND
HERE'S WHAT HE SAID ABOUT THE
EXPERIENCE OF BEING IN JAIL AND
FACING DEPORTATION: I LIVE MY
LIFE BY THE LAW, DID EVERYTHING
BY THE BOOKS, NEVER COMMITTED
ANY CRIME AND SOMEHOW ENDED UP
IN JAIL OVER SOMETHING I HAD NO
CONTROL OVER AS A CHILD.
WHAT WOULD I DO IF I WERE SENT
BACK TO BANGLADESH?
I BARELY SPEAK THE LANGUAGE AND
WRITE IT.
HOW AM I SUPPOSED TO START MY
LIFE ALL OVER FROM SCRATCH IN
SUCH A PLACE WITHOUT KNOWLEDGE
OF THE LANGUAGE OR THE CULTURE?
MY OFFICE LEARNED ABOUT SAHEED'S
CASE.
WE CONTACTED IMMIGRATION AND
CUSTOMS ENFORCEMENT AND ASKED
THEM TO CONSIDER HIS REQUEST
THAT HIS DEPORTATION BE PLACED
ON HOLD.
THE OBAMA ADMINISTRATION PLACED
PROCEEDINGS.
HOWEVER, IT'S ONLY TEMPORARY.
IT DOESN'T GIVE HIM PERMANENT
LEGAL STATUS, AND HE'S STILL AT
RISK OF BEING DEPORTED SOMETIME
IN THE FUTURE.
THE ONLY WAY FOR SAHEED TO BE
PERMITTED TO STAY IN THE UNITED
STATES PERMANENTLY IS FOR US TO
DO SOMETHING, TO PASS THE DREAM
ACT, TO CHANGE THE LAW.
ME, SAHEED
EXPLAINED WHAT THE DREAM ACT
MEANT TO HIM.
THE DREAM ACT MEANS BEING ABLE
TO BE HOME REGARDLESS OF WHERE
WE GO, WE ALL YEARN TO COME BACK
TO OUR HOME.
TO ME, NORTH CAROLINA IS THAT
I WATCH LIVE ON C-SPAN IN 2010
AS THE BILL PASSED THE HOUSE BUT
FAILED TO PASS THE SENATE.
TO MOST OF THE SENATORS, IT WAS
REJECTED.
HOWEVER, TO SOMEONE LIKE ME,
WHOSE LIFE NOT ONLY DEPENDS ON
SOMETHING SO CRUCIAL, BUT MY
FUTURE LITERALLY HANGS IN LINE,
IT'S ABSOLUTELY DEVASTATING TO
WITNESS THIS REJECTION.
I HOPE THIS IS THE YEAR THAT
POLITICS ARE SET ASIDE AND ALL
THE REPRESENTATIVES CAN WORK
TOGETHER FOR A SOLUTION.
THOSE OF US WHO ARE FORTUNATE
ENOUGH TO SERVE IN CONGRESS HAVE
AN OBLIGATION TO SET POLITICS
THE RIGHT THING.
THIS ISN'T A DEMOCRATIC ISSUE OR
A REPUBLICAN ISSUE.
WE'RE GOING TO BE A STRONGER AND
BETTER COUNTRY IF WE GIVE SAHEED
A CHANCE TO EARN HIS WAY TOWARD
AMERICAN CITIZEN.
THIS IS NOT JUST ONE EXAMPLE,
ONE PERSON.
THERE ARE LITERALLY THOUSANDS
JUST LIKE HIM WAITING FOR THEIR
THE DREAM ACT WOULD GIVE SAH EED
AND OTHER BRIGHT, ACCOMPLISHED,
AMBITIOUS YOUNG PEOPLE LIKE HIM
THE OPPORTUNITY TO BECOME
TOMORROW'S DOCTORS AND
SOLDIERS.
TODAY I ASK MY COLLEAGUES AGAIN,
AS I HAVE SO MANY TIMES BEFORE,
TO SUPPORT THE DREAM ACT.
LET'S GIVE SAHEED AND SO MANY
OTHER YOUNG PEOPLE LIKE HIM A
CHANCE TO CONTRIBUTE MORE FULLY
TO THE COUNTRY THEY CALL HOME.
IT IS THE RIGHT THING TO DO, AND
NATION.
MR. PRESIDENT, I ASK CONSENT
THAT MY REMARKS THAT FOLLOW BE
RECORD.
WITHOUT
OBJECTION, SO ORDERED.
MR. PRESIDENT, TWO
WEEKS AGO WE WERE GIVEN A
CAUTIONARY LESSON ABOUT THE NEED
TO ENSURE THAT OUR NATION'S
BANKS ARE CAREFULLY REGULATED.
WE'RE STILL LEARNING THE DETAILS
ABOUT THE $2 BILLION BAD BET
MADE BY BANKING GIANT J.P.
MORGAN CHASE.
WHAT WE'VE LEARNED IS
APPARENTLY THE LONDON OFFICE OF
THIS WALL STREET GIANT CRAFTED A
CREDIT DERIVATIVE TRADING
STRATEGY THAT SPUN OUT OF
CONTROL OVER SIX WEEKS.
AT THE CENTER OF THE STRATEGY
WAS ONE SINGLE TRADER WHO WAS
NICKNAMED -- QUOTE -- "THE
LONDON WHALE."
ONE TRADER, SIX WEEKS, $2
BILLION GONE.
IT'S NOT CLEAR HOW WIDELY THE
REPERCUSSIONS OF THIS TRADING
LOSS WILL EXTEND, BUT THIS
INCIDENT CLEARLY IS AN IMPORTANT
REMINDER TO ALL OF US.
IT REMINDS US WE CAN'T AFFORD TO
TAKE A HANDS-OFF REGULATORY
APPROACH TO THE GIANT FINANCIAL
TRANSACTIONS ON WALL STREET.
THESE INSTITUTIONS DROVE THIS
NATION TO THE BRINK OF ECONOMIC
DISASTER JUST A FEW YEARS AGO.
IF THEY'RE SIMPLY LEFT TO THEIR
OWN DEVICES, IT COULD EASILY
HAPPEN AGAIN.
WE NEED REASONABLE FINANCIAL
REGULATION THAT WILL ENSURE
TRANSPARENCY, COMPETITION AND
AND WE NEED TO PREVENT WALL
STREET BANKS FROM FIXING THE
RULES AND SETTING UP RIGGED
SCHEMES THAT LINE THEIR OWN
POCKETS AND HANG MAIN STREET
AMERICA OUT TO DRY.
TWO YEARS AGO CONGRESS PASSED
AND THE PRESIDENT SIGNED THE
DODD-FRANK WALL STREET REFORM
AND CONSUMER PROTECTION ACT.
THIS LEGISLATION TOOK ON THE
CHALLENGE OF PLACING A
REASONABLE REGULATORY FRAMEWORK
ON WALL STREET.
IT'S A TOUGH CHALLENGE.
WALL STREET AND THE BANKING
INDUSTRY HAVE ENORMOUS RESOURCES
AND ENORMOUS POWER, AND THEY'RE
NOT AFRAID TO USE IT NOT ONLY ON
WALL STREET, ON CAPITOL HILL.
IN THE DAYS TO COME, WE'RE GOING
TO SEE IMPORTANT REGULATORY
EFFORTS PROCEED ON ISSUES LIKE
THE VOLCKER RULE, WHICH DEALS
WITH THE BIG BANKS' ABILITY TO
MONEY.
IT'S IMPORTANT THAT WE PURSUE
THIS REGULATORY EFFORT
DILIGENTLY.
WE CAN'T LET THE BIG BANKS USE
THEIR THREATS AND SCARE TACTICS
REFORM AND TO
PRESERVE BUSINESS AS USUAL.
THERE'S TOO MUCH AT STAKE.
I WANT TO TALK TODAY ABOUT
ANOTHER PART OF WALL STREET
REFORM THAT PASSED TWO YEARS
AGO, A PROVISION THAT THE BIG
BANKS HATE AS MUCH AS ANY OTHER.
I'M TALKING ABOUT THE PROVISION
I WROTE DEALING WITH INTERCHANGE
FEES OR SWIPE FEES.
MR. PRESIDENT, THE SWIPE FEE IS
A FEE THAT A BANK RECEIVES FROM
A MERCHANT, A RESTAURANT, A
RETAILER, WHEN THE MERCHANT
ACCEPTS A CREDIT OR DEBIT CARD
THAT WAS ISSUED BY A BANK.
THAT FEE IS TAKEN OUT OF THE
TRANSACTION AMOUNT.
IF YOUR BILL IS $50 AT THE
RESTAURANT, THAT INCLUDES THE
FEE THE RESTAURANT IS PAYING TO
THE BANK AND CREDIT CARD COMPANY
CALLED THE SWIPE FEE, THE
INTERCHANGE FEE.
THE VAST MAJORITY OF BANK FEES
COMPETITIVE.
CHASE, BANK OF AMERICA, WELLS
FARGO AND THE REST SET THEIR OWN
FEE RATE AND COMPETE FOR
BUSINESS BASED ON THE FEES THEY
CHARGE.
NOT THE CASE WITH THE
SWIPE FEES AND INTERCHANGE FEES
THAT AFFECT CREDIT AND DEBIT
CARDS.
THE BIG BANKS KNOW COMPETITION
AND TRANSPARENCY HELP KEEP FEES
AT A REASONABLE LEVEL, MAKE IT
HARDER TO MAKE BIG MONEY OFF THE
FEES.
THAT'S WHY THEY SET UP THE SWIPE
SYSTEM, THE INTERCHANGE SYSTEM,
TRANSPARENCY.
THE BIG BANKS DECIDED THAT
RATHER THAN EACH SETTING THEIR
OWN SWIPE FEES, THEY WOULD JUST
DESIGNATE TWO GIANT CARD
COMPANIES, VISA AND MASTERCARD
TO SET THE FEES FOR ALL OF THEM.
THAT WAY EACH BANK COULD GET THE
SAME HIGH FEE ON EACH CARD
TRANSACTION, NO HIGH
THEN THE BANKS BURIED THIS SWIPE
FEE UNDER LAYERS OF COMPLEXITY
WITH DEBIT AND CREDIT
MOST CONSUMERS AND EVEN MOST
MERCHANTS STILL HAVE NO IDEA HOW
MUCH THEY ARE BEING CHARGED ON
THE SWIPE FEE.
THIS SYSTEM HELPED THE
CARD-ISSUING BANKS DO VERY WELL
OVER THE LAST 20 YEARS.
U.S. SWIPE FEE RATES BECAME THE
HIGHEST IN THE WORLD, AND THEY
GOING UP EVEN AS THE COST
OF PROCESSING TRANSACTIONS WENT
DOWN.
DEBIT SWIPE FEES ALONE, JUST
DEBIT CARDS, BROUGHT THE BANKS
OVER $16 BILLION IN THE YEAR
2009.
THAT'S THE INTERCHANGE FEE PAID
BY THE MERCHANTS, ULTIMATELY BY
THE CONSUMER, TO THE BANKS AND
CREDIT CARD COMPANIES WHEN
PEOPLE USE A DEBIT CARD.
OF COURSE, BANKS DON'T NEED ALL
THIS DEBIT SWIPE FEE MONEY TO
CONDUCT DEBIT TRANSACTIONS.
THE ACTUAL COST OF THE
TRANSACTIONS IS VERY LOW, JUST A
FEW CENTS.
BUT THE BANKS LOOKING FOR MORE
REVENUE EXPLOITED THE SWIPE FEE
SYSTEM TO CHARGE FAR MORE THAN
THEY COULD EVER JUSTIFY.
IT DOESN'T HAVE TO BE THIS WAY.
MANY OTHER COUNTRIES, CANADA,
EUROPEAN COUNTRIES, HAVE VIBRANT
DEBIT CARD SYSTEMS WITH SWIPE
FEES STRICTLY REGULATED OR
PROHIBITED ALTOGETHER, AND IN
THE UNITED STATES, DEBIT SWIPE
FEES USED TO BE TINY UNTIL VISA
TOOK OVER THE DEBIT CARD MARKET
IN THE MID 1990'S AND USED
I THINK BOARDED ON
VIOLATIONS OF ANTITRUST.
BY 2010, THE U.S. SWIPE FEE
SYSTEM WAS GROWING OUT OF
CONTROL WITH NO END IN SIGHT.
THERE WERE NO MARKET FORCES
SERVING TO KEEP FEES AT A
REASONABLE LEVEL.
MERCHANTS AND THEIR CUSTOMERS
WERE BEING FORCED TO SUBSIDIZE
BILLIONS IN WINDFALLS TO THE BIG
THAT'S WHEN I INTRODUCED AN
REFORM BILL, THAT FOR THE FIRST
TIME PLACED REASONABLE
REGULATION ON SWIPE FEES ON
DEBIT CARDS.
THE REASON I PICKED DEBIT CARDS
IS SOME OF US ARE OLD ENOUGH TO
REMEMBER SOMETHING CALLED A
CHECKING ACCOUNT.
THOSE CHECKING ACCOUNTS ARE
STILL AROUND, BUT THEY'RE RARE.
MOST PEOPLE DO THEIR CHECKING
TRANSACTIONS WITH A PIECE OF
PLASTIC CALLED A DEBIT CARD.
THE MONEY COMES DIRECTLY OUT OF
YOUR BANK ACCOUNT, JUST AS THE
CHECK REMOVED MONEY DIRECTLY
FROM YOUR BANK ACCOUNT.
THAT'S WHY THE DEBIT CARD IS A
DIFFERENT TRANSACTION THAN THE
MY AMENDMENT SAID THAT IF THE
NATION'S BIGGEST BANKS ARE GOING
TO LET VISA AND MASTERCARD FIX
SWIPE FEES FOR THEM, THE RATES
MUST BE REASONABLE AND
PROPORTIONAL TO THE COST OF
PROCESSING A TRANSACTION.
THERE WOULD BE NO MORE
UNREASONABLY HIGH DEBIT SWIPE
FEES FOR BIG BANKS.
MY AMENDMENT ALSO INCLUDED A
NONEXCLUSIVITY PROVISION WHICH
AIMED TO STOP VISA FROM TAKING
OVER THE DEBIT CARD MARKET
ENTIRELY.
THIS PROVISION SAYS THERE NEEDS
TO BE A REAL CHOICE OF CARD
NETWORKS, REAL COMPETITION.
THE REGULATORY STEPS MY
AMENDMENT PROPOSED WERE MODEST.
MOST OTHER COUNTRIES HAVE GONE A
LOT FURTHER IN REGULATING THEIR
CREDIT AND DEBIT SYSTEMS.
BUT IF YOU LISTENED TO THE
BANKING INDUSTRY AND CARD
COMPANIES, YOU WOULD HAVE
THOUGHT MY AMENDMENT WOULD BE
THE END OF THE WORLD AS WE KNOW
IT.
THEY MADE OUTRAGEOUS CLAIMS, THE
REGULATION OF SWIPE FEES WOULD
KILL THE DEBIT CARD SYSTEM,
DEVASTATE SMALL AND COMMUNITY
BANKS AND PARTICULARLY BE AN END
TO CREDIT UNIONS AND CAUSE BANKS
TO RAISE THEIR FEES ON
MY AMENDMENT PASSED THE SENATE
WITH 64 VOTES SIGNED INTO LAW
AND IT'S BEEN EIGHT MONTHS SINCE
THE SWIPE FEE REFORM TOOK
EFFECT.
WELL, IT TURNS OUT ALL THE SCARY
SCENARIOS THREATENED BY THE
BANKS HAVE NOT COME TO PASS.
FIRST, THE BANKS CLAIMED IT WAS
IMPOSSIBLE FOR VISA AND
MASTERCARD TO ESTABLISH A NEW
TIER OF REGULATED SWIPE FEE
AS IT TURNED OUT, CREATING THIS
TWO-TIERED SYSTEM WAS EASY.
THERE WERE ALREADY HUNDREDS OF
WASN'T DIFFICULT.
THE BANKS THEN CLAIMED THAT
SMALL BANKS AND CREDIT UNIONS
WOULD BE HURT BY REFORM EVEN
THOUGH ALL INSTITUTIONS WITH A
VALUE OF LESS THAN $10 BILLION
WERE EXEMPT.
AS IT TURNED OUT, SMALL BANKS,
COMMUNITY BANKS AND CREDIT
UNIONS ACTUALLY THRIVED SINCE
THIS REFORM TOOK EFFECT.
WHY?
BECAUSE UNDER MY AMENDMENT,
SMALL BANKS AND CREDIT UNIONS
CAN RECEIVE THE HIGHER
INTERCHANGE FEES FROM VISA AND
MASTERCARD, HIGHER THAN THE BIG
BANKS, ALTHOUGH THEY CONTROL
ABOUT 60% OF THE MARKET.
AND THOSE BIG BANKS HAVE BEEN SO
HEAVY-HANDED IN THEIR RESPONSE
TO SWIPE REFORM, THEY HAVE
DRIVEN THEIR CONSUMERS, MANY OF
THEM, STRAIGHT INTO THE ARMS OF
UNIONS.
PARTICULAR ARE
FLOURISHING AFTER THE PASSAGE OF
THE LAW THAT HAD SWIPE FEE
REFORM, A LAW WHICH THEY
ACTIVELY OPPOSED.
LAST YEAR, 1.3 MILLION AMERICANS
OPENED NEW CREDIT UNION ACCOUNTS
THAT WAS UP FROM 600,000 THE
YEAR BEFORE.
MORE THAN TWICE AS MANY PEOPLE
SWITCHED FROM BANKS TO CREDIT
UNIONS.
CREDIT UNIONS NOW HAVE A RECORD
NUMBER OF MEMBERS ACROSS THE
NATION.
ALMOST 92 MILLION OVERALL.
SO MUCH FOR THE PROPHECY BY THE
CREDIT UNIONS THAT THIS CHANGE
IN THE LAW WOULD BE THE END OF
THEM.
IT'S TURNED OUT TO BE THE BEST
THING THAT'S EVER HAPPENED TO
I KNOW THE WASHINGTON LOBBYISTS
FOR THE SMALL BANKS AND CREDIT
UNIONS STILL LIKE TO COMPLAIN
ABOUT THIS REFORM.
THESE LOBBYISTS HAVE SPENT SO
MUCH TIME FIGHTING REFORM, THEY
ARE JUST NOT GOING TO CHANGE
THEIR POSITIONS.
BUT THE FACTS ARE CLEAR IF THEY
WILL JUST BE HONEST ENOUGH TO
ADMIT THEM.
SMALL FINANCIAL INSTITUTIONS
TOOK EFFECT.
HOW ABOUT CONSUMERS?
THE BIG BANKS TRIED LAST YEAR TO
RECOUP THEIR REDUCED SWIPE FEES
BY CHARGING 5-DOLLAR MONTHLY
HOLDERS.
REMEMBER THAT?
REMEMBER WHEN BANK OF AMERICA
SAID IT WILL GO UP $5?
ALL ACROSS AMERICA, THEY SAID
BYE-BYE, AMERICA, WE'LL GO
SOMEWHERE ELSE.
WITHIN A MONTH OR TWO, THEY
BACKED OFF IT.
FINALLY, CONSUMERS WERE COMING
THEY WERE AWAKENED TO THE
TOO.
THIS IS A FREE MARKET, UNDERLINE
THE WORD FREE.
AND IF YOU DON'T LIKE THE WAY
YOUR BANK OR ANY INSTITUTION IS
TREATING YOU, GO SHOPPING.
THAT'S PART OF AMERICA.
THE BANKS HAVE NEVER RUN INTO
THAT BEFORE.
PEOPLE JUST WAITED UNFORTUNATELY
FOR THE LATEST FEE INCREASE.
THEY DON'T WAIT AROUND ANYMORE.
THEY PICK UP AND MOVE.
UNLIKE SWIPE FEES, THE BIG
BANK'S $5 DEBIT FEES WERE
TRANSPARENT, AND CUSTOMERS
MOVED.
CONSUMERS ARE ALSO BENEFITING
FROM SAVINGS PASSED ALONG BY
MERCHANTS.
AFTER REFORM TOOK EFFECT IN
OCTOBER, WE SAW A MASSIVE LEVEL
OF RETAILER DISCOUNTING THAT
EXTENDED BEYOND THE USUAL
HOLIDAY SEASON DISCOUNTS.
ACCORDING TO "USA TODAY," AN
ARTICLE FROM MAY 11, A NUMBER OF
INDIVIDUAL MERCHANTS ARE
OFFERING DEBIT CARD DISCOUNTS
FOR ITEMS SUCH AS GAS, FURNITURE
AND CLOTHING.
"USA TODAY" ALSO POINTED OUT
THAT DESPITE THE BANK'S THREATS,
FREE CHECKING ACCOUNTS FOR
CONSUMERS HAVE NOT DISAPPEARED.
"USA TODAY" REPORTED THAT IN THE
SECOND HALF OF 2011, 39% OF
BANKS OFFERED CHECKING ACCOUNTS
WITH NO MONTHLY MAINTENANCE FEE
UP FROM 35% FOR THE FIRST HALF
OF THE YEAR.
ALSO, OF THOSE BANKS THAT CHARGE
CHECKING MAINTENANCE FEES, THE
HALF.
THIS IS WHAT'S KNOWN AS
WHAT IS WRONG WITH THAT?
THAT AMERICAN FAMILIES AND
CONSUMERS GO SHOPPING FOR THE
BEST BANK DEAL.
IT'S HAPPENING BECAUSE SWIPE FEE
REFORM HAS CREATED NEW
I THINK COMPETITION IS A GOOD
THING.
NOW IT'S IMPORTANT TO NOTE THAT
THE SAVINGS OF SWIPE FEE REFORM
TO MERCHANTS AND CONSUMERS
ACTUALLY SHOULD BE EVEN GREATER
THAN IT IS.
WHEN THE FEDERAL RESERVE WAS
WRITING ITS RULE TO IMPLEMENT MY
AMENDMENT, THE BANKS LOBBIED
THEM TO SET A DEBIT SWIPE FEE
CAP AT LEVELS SIGNIFICANTLY
HIGHER THAN THE 12 CENTS THAT
THE FEDS SAID IT ACTUALLY COST
TRANSACTION.
PREDICTABLY, VISA, MASTERCARD
AND THE BIG BANKS TOOK ADVANTAGE
OF THIS WATERED DOWN LEGISLATION
THAT THEY HAVE LOBBIED FOR.
VISA AND MASTERCARD PROMPTLY
JACKED UP THEIR SWIPE FEES TO
THE 24-CENT CEILING SET BY THE
HERE'S WHAT'S HAPPENED.
BECAUSE SWIPE FEES HAVE
TRADITIONALLY BEEN CHARGED AS A
PERCENTAGE OF THE TRANSACTION
AMOUNT PLUS A SMALL FLAT FEE,
THIS MEANT THAT THE SMALL DOLLAR
TRANSACTIONS USED TO INCUR FEES
OF MUCH LESS THAN 24 CENTS.
NOW WITH VISA AND MASTERCARD'S
RATE INCREASES, BUSINESSES THAT
PRIMARILY DEAL WITH SMALLER
TRANSACTION, COFFEE SHOPS, FAST
FOOD RESTAURANTS, THEY ARE
PAYING FAR MORE IN SWIPE FEES
THAN THEY DID BEFORE.
THIS IS NOT A FLAW IN THE LAW WE
PASSED, WHICH WISELY REQUIRED
REASONABLE AND PROPORTIONAL
CHARGES.
RATHER, IT SHOWS THE DANGER OF
WATERING DOWN THE REGULATIONS TO
IMPLEMENT THE LAW.
BANKS AND CARD COMPANIES
LOBBIED THE FEDERAL RESERVE FOR
THE LOOPHOLE WHICH THEY
IMMEDIATELY RACED THROUGH.
THIS IS SOMETHING WE NEED TO FIX
IT CAN BE FIXED.
I'M PLEASED THE AMOUNT OF SWIPE
FEE REFORM WE ENACTED IN 2010 IS
OFF TO A GOOD, SOLID START.
MORE COMPETITION, CUSTOMERS AND
FAMILIES MOVING ACROSS AMERICA
FOR THE BEST TREATMENT THAT THEY
CAN RECEIVE FROM THEIR BANK OR
THEIR CREDIT UNION.
ALREADY, THE BIG BANKS AND CARD
COMPANIES ARE PLOTTING TO UNDO
ALL THESE REFORMS AND GET THAT
MONEY BACK, THE BILLIONS OF
DOLLARS WHICH THEY WERE TAKING
IN UNDER THE UNREGULATED SWIPE
FEE REGIME.
VISA IN PARTICULAR HAS CRAFTED
NEW FEE SCHEMES IN ITS
CONTINUING EFFORT TO MONOPOLIZE
THE DEBIT CARD MARKET.
IN FACT, VISA RECENTLY DISCLOSED
THAT THE U.S. JUSTICE DEPARTMENT
HAD OPENED A NEW ANTITRUST
INVESTIGATION INTO ANY
COMPETITIVE ASPECTS OF VISA'S
NEWEST FEES.
I CONTINUE TO BE CONCERNED THAT
THE GIANT CARD COMPANIES,
PARTICULARLY VISA, ARE BECOMING
TOO BIG AND TOO POWERFUL.
THESE COMPANIES HAVE GAINED AN
ENORMOUS AMOUNT OF CONTROL OVER
THE WAY AMERICANS CAN USE THEIR
THEY SET UP FEE SYSTEMS.
THEY DICTATE SECURITY STANDARDS.
THEY MAKE A FORTUNE BY TAKING A
CUT OUT OF EVERY TRANSACTION
THEY HANDLE FAR BEYOND THE COST
OF PROCESSING.
THERE IS NO REGULATORY AGENCY
THAT DIRECTLY SUPERVISES THE
ACTIONS OF THESE CARD COMPANIES,
AND WE CAN'T AFFORD TO SIMPLY
TRUST THESE COMPANIES TO DO
WHAT'S IN OUR NATION'S BEST
INTERESTS OR TO WATCH OUT FOR
THAT, AGAIN, IS WHY THE CONSUMER
FINANCIAL PROTECTION BUREAU IS
SUCH A CRITICALLY IMPORTANT
IT IS VIRTUALLY THE ONLY
CONSUMER PROTECTION AGENCY AT
THE HIGHEST LEVELS OF OUR
IN THE WEEKS AND MONTHS TO COME,
I WILL CONTINUE TO WORK TO
ENSURE THAT THE DEBIT AND CREDIT
CARD SYSTEMS HAVE COMPETITION,
TRANSPARENCY AND CHOICE, THAT
THERE IS A FRAMEWORK FOR
REASONABLE REGULATION.
I KNOW THE BIG BANKS AND CARD
COMPANIES ARE GOING TO CONTINUE
TO FIGHT IT.
THEY HAVE A LOT OF MONEY ON THE
BUT I BELIEVE REASONABLE
REGULATION IS THE RIGHT WAY TO
MOVE FORWARD, AND I WILL
WORK FOR IT.
OUR ECONOMY, OUR SMALL BANKS,
OUR CREDIT UNIONS, OUR MERCHANTS
AND OUR CONSUMERS ARE BENEFITING
THE LAW.
MR. PRESIDENT, I YIELD THE
FLOOR.
THE
SENATOR FROM ALABAMA.
MR. PRESIDENT, I'M
ON THE FLOOR THIS AFTERNOON TO
DISCUSS A DISCOVERY, REALLY A
STUNNING DISCOVERY FOR ME THAT'S
IMPORTANT FOR ALL OF US.
AS MANY PEOPLE KNOW, CONGRESS
AND THE PRESIDENT STRUCK A DEAL
LAST SUMMER TO RAISE THE DEBT
THAT DEAL SET IN PLACE
DISCRETIONARY SPENDING CAPS, NOT
NEARLY ENOUGH TO BALANCE OUR
BUDGET OVER TEN YEARS BUT A STEP
IN THE RIGHT DIRECTION.
THAT LEGISLATION SAID THAT WE
WILL RAISE THE DEBT CEILING
$2.1 TRILLION BUT WE WILL CUT
TRILLION OVER TEN
YEARS, A PROMISE TO CUT SPENDING
OVER TEN YEARS.
THAT LEGISLATION ALSO REQUIRED
THE SENATE BUDGET COMMITTEE, OF
WHICH I AM THE RANKING MEMBER,
IT REQUIRED THAT THE CHAIRMAN OF
THE COMMITTEE BY APRIL 15 OF
THIS YEAR TO FILE AGGREGATE
SPENDING LEVELS, SPENDING LIMITS
BASED ON THE CONGRESSIONAL
BUDGET OFFICE'S MARCH, 2012,
FINANCIAL BASELINE, AND TO
ALLOCATE THE FUNDS THAT COULD BE
SPENT UNDER THAT BUDGET CONTROL
ACT LEGISLATION TO EACH OF THE
SENATE COMMITTEES,
APPROPRIATIONS COMMITTEES.
IN OTHER WORDS, THESE LEVELS AS
SUBMITTED TELL THE APPROPRIATORS
HOW MUCH THEY CAN SPEND, AND THE
BUDGET CHAIRMAN HAS THAT
RESPONSIBILITY AND DUTY TO DO
THAT.
HE TAKES A LEVEL AGREEMENT THAT
WAS AGREED TO AND HE SENDS THAT
THESE ARE REAL DOLLARS THAT EACH
APPROPRIATING COMMITTEE IS
THEREFORE ALLOWED TO SPEND, YET
WE HAVE LEARNED SOMETHING THAT'S
DISAPPOINTING, REALLY ASTOUNDING
TO ME.
THE NUMBERS FILED BY CHAIRMAN
CONRAD, MY GOOD FRIEND WHO IS A
FAIR AND ABLE CHAIRMAN, ARE NOT,
IN FACT, THE SPENDING LEVELS OF
THE C.B.O. BASELINE, AS THE
STATUTE SETS FORTH.
INSTEAD, THE DISCRETIONARY
OUTLAY TOTAL SUBMITTED BY THE
CHAIRMAN TO THE COMMITTEES FOR
FISCAL YEAR 2013 IS DERIVED FROM
THE PRESIDENT'S BUDGET.
NOT FROM THE C.B.O. BASELINE.
THE DISCRETIONARY SPENDING
ALLOCATION FOR THE SENATE IS
THEREFORE INFLATED BY ABOUT
$14 BILLION MORE THAN WHAT WAS
AGREED TO JUST LAST AUGUST.
WE TOLD THE AMERICAN PEOPLE WE
WOULD RAISE THE DEBT CEILING,
CONTINUE TO BORROW MONEY BUT WE
WERE GOING TO REDUCE SPENDING.
SO LET ME REPEAT THAT.
THESE ALLOCATION LEVELS HAVE
BEEN INFLATED BY $14 BILLION TO
MATCH THE PRESIDENT'S BUDGET,
NOT THE C.B.O. BASELINE THAT THE
B.C.A. COMMITTEE WAS WORKING
FROM.
IT RAISES OUTLAY LEVELS OVER
THAT AUGUST AGREEMENT, AND THAT
I SUBMIT WAS A SOLEMN AGREEMENT
BETWEEN THE MEMBERS OF CONGRESS,
BOTH THE SENATE AND THE HOUSE,
THE AMERICAN PEOPLE AND THE
PRESIDENT HIMSELF WHO SIGNED
THAT AGREEMENT.
SO I HAVE SENT A LETTER TO
CHAIRMAN CONRAD TODAY URGING MY
CHAIRMAN TO CORRECT AND REFILE
NUMBERS THAT ARE PROPER, NUMBERS
THAT COMPLY WITH THE LAW.
AND I WILL BE SUBMITTING,
MR. PRESIDENT, AN OFFER FOR THE
RECORD, A LETTER THAT I HAVE
WRITTEN SENATOR CONRAD TODAY.
WITHOUT
OBJECTION.
IT'S UNTHINKABLE
THAT WE WOULD NOT ONLY SPEND
AGREED TO,
BUT WOULD INSTITUTE INSTEAD THE
NUMBERS DERIVED FROM PRESIDENT
OBAMA'S BUDGET, WHICH IN THIS
CHAMBER WHEN I BROUGHT IT UP A
FEW DAYS AGO, WAS REJECTED
UNANIMOUSLY.
THIS IS ANOTHER EXAMPLE, I'M
AFRAID, I HAVE TO SAY, OF THE
SLEIGHT OF HAND TACTICS THAT
HAVE BEEN UTILIZED IN THIS
CONGRESS FOR TOO LONG.
THAT SAY WE'VE GOT AN AGREEMENT
AND WE'RE GOING TO DO BETTER AND
WE'RE GOING TO SPEND LESS.
AND AS SOON AS THE INK IS DRY,
BEFORE THE INK IS DRY REALLY ON
THE AGREEMENTS, PEOPLE START
MANIPULATING WAYS AROUND THEM.
TRYING TO SPEND MORE THAN THE
AMOUNT ALLOWED.
IT SEEMS TO BE SINCE I'VE BEEN
IN THE SENATE FOR 15, 16
YEARS, THESE -- WE HAVE
MEMBERS OF CONGRESS THAT TAKE IT
AS A PERSONAL CHALLENGE TO SEE
HOW THEY CAN DEFEAT, GET AROUND
AND SPEND MORE MONEY THAN
ALLOCATED.
THE AMERICAN PEOPLE ARE BEING
MISLED IN THIS ATTEMPT.
WE'RE NOT FOLLOWING THE BUDGET
CONTROL ACT.
AND IT'S NOT A PARTISAN MATTER.
IT'S ABOUT HONEST ACCOUNTING,
IT'S ABOUT SAFEGUARDING THE
AMERICAN TREASURY, IT'S ABOUT
RESTORING FAITH IN THE SENATE
CHAMBER.
THE AMERICAN PEOPLE ARE RIGHT TO
BE ANGRY WITH US, AND TO NOT
TRUST US.
BECAUSE WE HAVEN'T HONORED THEIR
TRUST.
WE HAVEN'T MANAGED THEIR MONEY
WELL.
POLITICAL ELITES REMAIN TOTALLY
DISCONNECTED FROM THE FINANCIAL
REALITY THAT OUR COUNTRY FACES.
GAME THE SYSTEM, SPEND MORE.
THE ALARMING DISCOVERY THAT THE
DISCRETIONARY ALLOCATIONS FILED
FOR THE SENATE ARE A TOTAL OF
$14 BILLION HIGHER THAN WE
AGREED TO AND THE LATEST IN A
LONG LINE OF EPISODES, THIS IS
THE LATEST IN A LONG LINE OF
EPISODES THAT UNDERSCORES THE
FINANCIAL CHAOS THAT IS THE
AMERICAN GOVERNMENT.
THESE EPISODES INCLUDE THE
G.S.A. SCANDAL IN LAS VEGAS WITH
HOT TUBS AND SKITS AND
MAGICIANS, WHATEVER, THE
SOLYNDRA LOAN, $500 MILLION TO
CRONIES FOR AN IDEOLOGICAL
VISION THAT DID NOT WORK.
I.R.S. CHECKS, I TALKED ABOUT
IT EARLIER THIS MORNING,
SENATOR VANDERBILTER AND I --,
VITDER AND I GIVEN TO ILLEGAL
ALIENS CLAIMING DEPENDENTS
ABROAD.
PEOPLE HERE ILLEGALLY, AND THE
UNITED STATES GOVERNMENT IS
SENDING THEM CHECKS BASED ON
CHILDREN THAT ARE NOT EVEN IN
THE COUNTRY.
AND INSPECTOR GENERAL FROM THE
I.R.S. SAYS THIS IS COSTING THE
TAXPAYERS $4 BILLION A YEAR.
IT ALSO INCLUDES A REVELATION
THAT NINTH CIRCUIT COURT OF
APPEALS WILL SPEND A MILLION
DOLLARS OR MORE OF TAXPAYER
GETAWAY TO
A BEACHFRONT RESORT AND SPA IN
THE HAWAIIAN TROPICS.
IT INCLUDES, OF COURSE, THE
THREE-YEAR REFUSAL OF THE SENATE
PLAN.
THREE YEARS WITHOUT A BUDGET.
SO WE ARE IN BADLY NEED OF
STRONG EXECUTIVE LEADERSHIP TO
PUT OUR FINANCES IN ORDER.
THE PRESIDENT, CABINET HEADS,
SUBCABINET HEADS THAT UNDERSTAND
FROM THE TOP TO THE BOTTOM TO
LOOK EVERY DAY FOR WAYS TO SAVE
MONEY.
THIS IMMIGRATION TAX SCAM COST
THE AMERICAN TAXPAYERS $10
MILLION A DAY.
DIVIDE THAT OUT, $4 BILLION BY
365 DAYS.
THE HOUSE HAS PASSED LEGISLATION
THAT WOULD CLOSE THAT GAPING
LOOPHOLE, THAT PROBLEM.
THE SENATE IS NOT ACTING.
SO THIS CHAOS CANNOT CONTINUE.
ACCOUNTABILITY AND DISCIPLINE
MUST BE ACHIEVED AND THE FIRST
STEP TO THE -- TO RIGHT THIS
SHIP OUGHT TO BE ACTUALLY
CORRECTING THESE ALLOCATIONS.
AND I CALL ON MY SENATE
LEADERSHIP FRIENDS TO DO THAT.
WE NEED AN HONEST ACCOUNTING.
WE NEED TO SPEND WHAT WE AGREED
WHAT WAS PASSED BY BOTH HOUSES
PRESIDENT.
THESE DOLLARS DO NOT BELONG TO
US.
PEOPLE.
THEY MUST BE PROTECTED.
EACH ONE OF THEM IS PRECIOUS,
EACH ONE OF THEM WAS EXTRACTED
FROM SOME HARD-WORKING
AMERICAN, SENT TO WASHINGTON ON
THE HOPE AND THE PRAYER THAT IT
WOULD BE WISELY SPENT.
AND WE DON'T HAVE ENOUGH OF IT.
WE DON'T HAVE ENOUGH MONEY.
SO TO STEALTHILY INCREASE
DISCRETIONARY OUTLAYS BY $14
BILLION IN ONE FELL SWOOP IS
UNACCEPTABLE.
IT MUST BE CORRECTED.
I CALL ON MY COLLEAGUES TO DO
SO, ELSE WE WILL CONTINUE TO
THE CONFIDENCE OF THE
AMERICAN PEOPLE.
I THANK THE CHAIR AND WOULD
YIELD THE FLOOR.
A SENATOR: MR. PRESIDENT?
THE
SENATOR FROM ARKANSAS.
MR. PRESIDENT.
I'D LIKE TO SPEAK AS IF IN
MORNING BUSINESS FOR 15 MINUTES.
WITHOUT