macleginn/stanford_congress_record_longer_speeches huggingface dataset:
Date: 2015-10-27
Speaker: CAROLYN B. MALONEY (democrat)
Chamber: H
State: New York

Mr. Speaker. the Department of Labors fiduciary duty rule advances a very simple principle: If you are giving advice to retirement savers and you are being compensated for your advice. then you have to put your customers interests first. It is worth noting that most investors already think that this is the law. even though it isnt. So the Department of Labors rule is a muchneeded update of the rules governing investment advice to retirement savers. I would say we have a particular responsibility as legislators to protect retirement savers. which is what the DOL rule does. While the proposed rule is not perfect. no rule ever is. The Department has been incredibly responsive. very responsive to legitimate concerns that have been raised. They have been more than willing to engage with Congress and with industry and with investors to come up with better solutions. But this bill before us would effectively stop the Department of Labors rule in its tracks. which is the completely wrong thing to do if you want to protect investors. This bill is also redundant. unnecessary. and really reflects a misunderstanding of the law. One of the core principles of the Employee Retirement Income Security Act. or ERISA. was that investments made for the purpose of retirement security should enjoy special protections under the law. That is what this DOL rule does. This. by definition. means that the protections under ERISA are supposed to be different than the protections under ordinary securities laws. They should be more protective of the retirement investor. As a result. the SEC and the Department of Labor have different responsibilities. When two agencies have different responsibilities. it is completely appropriate for them to move separately and even to write different rules. This bill would also require the SEC to conduct yet another studyor I would call it a delayon a uniform fiduciary standard for brokerdealers. We already required the SEC to conduct a study on this issue in DoddFrank. and the SEC staffs recommendation in that study was that the SEC should. in fact. adopt a uniform fiduciary standard for brokerdealers. Requiring the SEC to conduct largely the same study that they already conducted in 2011I believe they can move ahead with their own fiduciary ruleis pointless and shows that the true intent of the bill. the underlying bill. is to delay both the Department of Labors rule and any future SEC rule which ultimately is there to protect the retirement saver and investor. I urge my colleagues to oppose this bill. and I urge them to vote for investor protections and to protect consumers. I urge a very strong "no" vote.
Date: 2015-10-27
Speaker: MAXINE WATERS (democrat)
Chamber: H
State: California

Mr. Speaker. I yield 5 minutes to the gentleman from Virginia . the ranking member of the Education and the Workforce Committee.
Date: 2015-10-27
Speaker: MAXINE WATERS (democrat)
Chamber: H
State: California

I yield 3 minutes to the gentleman from Texas . the ranking member of the Subcommittee on Oversight and Investigations on the Financial Services Committee.
Date: 2015-10-27
Speaker: AL GREEN (democrat)
Chamber: H
State: Texas

I thank the ranking member for her outstanding work and efforts in this area. The gentlewoman has truly been a champion for peoplethe very little people who some people have styled we are talking about today. Mr. Speaker. the best way. without question. to get the SEC to act would be to allow the DOL to act. If the DOL is allowed to promulgate its rules. I guarantee you the SEC will move with an additional amount of deliberate speed. Currently. the DOL is simply attempting to cause people who act as financial advisers to have fidelity to their clients above their own personal interests. What is so unusual about the concept is the person who is working for you having fidelity that benefits you as opposed to the person who is working for you. Right now. as the laws exist. a person acting as a financial adviser can become a financial predatory adviser. Not all are. I am not accusing the industry of anything. I am just making a point about what can happen. When this happens. the person who is to give you advicefor a fee. I might addcan sell you a product for a higher fee and that has a higher risk as opposed to a similar product with a lower fee and that carries a lower risk. The higher fee is the temptation that will cause predatory financial advisers to manifest themselves and take actions against the best interests of the clients. who are paying them to represent them and benefit them. We ought not allow this kind of action to be sanctioned by the Congress of the United States of America. What the President is attempting to do by and through the DOL is to simply say: If you are going to represent your client. you are going to put your interest beneath the clients interest. You will subordinate your interest to your clients interest. You will not allow yourself to yield to the temptation to take a higher amount of money for yourself and put your client at a greater amount of risk. That is all this rule is about. Lets allow the rule to come into existence. If we want to debate it thereafter and amend it. we can. But lets not prevent it from ever manifesting itself by causing some to believe that the SEC will do what the DOL will not. because the evidence is not there to support the notion that we are going to get faster results from the SEC. Finally. this: in a righteous world. we would be calling some of this activity fraud.
Date: 2015-10-27
Speaker: MAXINE WATERS (democrat)
Chamber: H
State: California

Mr. Speaker. I yield 2 minutes to the gentleman from Maryland . the ranking member of the Committee on Oversight and Government Reform.
Date: 2015-10-27
Speaker: VAN HOLLEN (democrat)
Chamber: H

Mr. Speaker. todays legislation is very similar to a bill introduced by Rep. WAGNER in the last Congress. I opposed that bill then. and for essentially the same reasons will oppose this bill now. As I indicated last year. I support consumer choice and believe there is room for a variety of different business models in the financial services marketplace. I also believe consumers have a right to full transparency regarding compensation arrangements and to recommendations from financial services professionals that are based on the consumers best interests. In my judgment. the Department of Labor shares these convictions and has proposed a workable Fiduciary Rule that embodies both of these principles. Moreover. whenever our office has raised specific issues that we believed warranted further clarification or adjustmentfrom socalled leveltolevel funding. to the appropriate distinction between education and advice. to the role of annuities and other insurance products in Americans retirement securitywe have found the Department both knowledgeable about. and responsive to. the concerns being raised. While I support the Securities and Exchange Commission promulgating its own Fiduciary Rule. I do not believe the Department of Laboror the retirement security of millions of Americanscan or should wait on action by the SEC. Accordingly. I oppose this legislation.
Date: 2015-10-28
Speaker: JUDY CHU (democrat)
Chamber: H
State: California

Mr. Speaker. acupuncture is one of the oldest medical treatments in the world. Here in the U.S.. the demand for acupuncture has grown significantly in recent years. In fact. about 4 in 10 American adults use alternative medicines. When other treatments may not help. acupuncture can treat chronic pain. mental health issues. substance abuse. and many other illnesses. I will never forget hearing the testimony of a woman who had severe back pain. but did not want invasive surgery. as suggested by her doctor. and possible addiction to morphine. Instead. she sought acupuncture. and it worked for her. Indeed. the National Institutes of Health indicates that. for some medical issues. acupuncture can provide the needed relief. It is my goal to make this treatment available to all Americans. including seniors. our brave servicemembers. and respected veterans. Today I am introducing a bill to do just that. This bill. the Acupuncture for Heroes and Seniors Act. will expand access to acupuncture services to these communities because they deserve to have all the tools at their disposal to live long and healthy lives.
Date: 2015-10-28
Speaker: BEN RAY LUJAN (democrat)
Chamber: H
State: New Mexico

Mr. Speaker. I rise today to pay tribute to Air Force Major Phyllis Pelky. who died earlier this month in a helicopter crash in Kabul. Afghanistan. As a Major in the Air Force. Phyllis Pelky served her nation with distinction as aidedecamp to the superintendent of the Air Force Academy. Major Pelky had been deployed in support of Operation Freedoms Sentinel in Afghanistan. working as the deputy manpower chief of the American Train. Advise and Assist Command. As we take this moment to honor the service and patriotism of Major Pelky and recognize her sacrifice. the ultimate sacrifice as a member of our armed services. we also thank her for her contributions in the classroom. Major Pelky was a beloved humanities teacher at the Rio Rancho High School. Her commitment to her students. combined with her enthusiasm. encouraged them to learn. She left a lasting impact on those who were fortunate to have her as a teacher. Her enduring spirit will live on through the many students she inspired. As we mourn the passing of Phyllis Pelky and celebrate her life. my thoughts and prayers are with her husband. her two sons. her family. and the Rio Rancho community during this sad time.
Date: 2015-10-28
Speaker: CAROLYN B. MALONEY (democrat)
Chamber: H
State: New York

Mr. Speaker. I thank my good friend and the ranking member on the Rules Committee for yielding to me and for her extraordinary leadership for the State of New York and for so many issues before this body. Mr. Speaker. I rise to express my strong support for this 2year budget bill and the exemplary bipartisan cooperation that made it possible. Although this bill is by no means perfect. it is a good bill. It is good for the economy and good for the country. It will ensure our Nation maintains the full faith and credit of global financial markets. It protects millions of Americans from an enormous Medicare premium increase. It frees us from the uncertainty that roils markets and worries businesses. both big and small. While I support the compromise. I would like to raise some concerns about its impact on hospitals in the district that I represent. The bill puts restrictions on which hospital- affiliated facilities can be considered outpatient departments and reimbursed at hospital rates. Under the bill going forward. acquired facilities that are a certain distance from the main campus of hospitals will be reimbursed. but at a lower rate. They will be reimbursed for services as a regular doctors visit. Existing sites will be grandfathered. but those that are under construction will be exempted and charged the lower rate. This will be a challenge in areas. like the district that I represent. where increasing demand collides with the lack of physical space to cause scattered hospital- affiliated facilities. I hope to work with my colleagues to improve the changes made to these outpatient services Medicare payments. I commend all who have worked with such goodwill on this budget. I urge my colleagues to support the rule and the underlying bill.
Date: 2015-10-28
Speaker: CAROLYN B. MALONEY (democrat)
Chamber: H
State: New York

I thank the gentleman for yielding. I would like to underscore my appreciation to you and the ranking member for your willingness to work on correcting this. I believe a correction could literally save taxpayer dollars and be more efficient. The willingness to work together for better government for our country is. I think. a good step forward. I thank the leaders on the other side of the aisle for approaching this in a bipartisan. cooperative spirit. as you are showing on the floor today. It is better for our country and certainly better for the budget in all respects. Thank you very. very much. I am extremely appreciative.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield myself such time as I may consume. Madam Speaker. I want to start by joining the comments of the chairman of the Committee on Appropriations.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I am pleased to yield 3 minutes to the gentleman from Michigan . the distinguished ranking member of the Committee on Ways and Means.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield 2 minutes to the gentleman from the great State of Maryland . the very distinguished ranking member of the Committee on Oversight and Government Reform.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield myself such time as I may consume. I agree with the gentleman that the investments in military readiness are important. I also believe the investments to help our economy grow and invest in education and scientific research are important. What the President said to the Congress is what the vast majority of the American public believed. that it is vital to have a strong national defense. But a strong national defense requires a strong economy. It requires an educated workforce. It requires investments in innovation and technology. It requires a 21st century infrastructure. So I am pleased that the President insisted that we make investments not just in the military. but also vital investments to help the economy grow. grow more jobs. which are estimated to be in the range of 350.000 in 2016 alone. So those are vital investments that also help strengthen America. Madam Speaker. I yield 2 minutes to the gentlewoman from New York . somebody who has been on the front lines of making those important investments for our country. the very distinguished ranking member of the Appropriations Committee.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I am pleased to yield 2 minutes to the gentleman from Minnesota . a distinguished member of the Financial Services Committee.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield 2 minutes to the gentleman from Vermont . somebody who has been very focused on making sure we keep the full faith and credit of the United States.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield 2 minutes to the gentleman from Massachusetts . a distinguished member of the Ways and Means Committee.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield 2 minutes to the gentleman from Oregon . a member of the Ways and Means Committee.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield 1 minute to the gentleman from Pennsylvania . a distinguished member of the Committee on Appropriations.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield 1 minute to the gentlewoman from California . somebody who knows how to lead. who knows how to get things done. who knows how to find common ground. and who was a vital part of bringing us to the progress we are making today. the Democratic leader.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield 4 minutes to the gentleman from Maryland . He is somebody who has been a key leader on budget and fiscal issues. someone from the great State of Maryland. and our distinguished Democratic whip.
Date: 2015-10-28
Speaker: JACKSON LEE (democrat)
Chamber: H

Mr. Ranking Member. let me thank you. And to the chairman of the Appropriations Committee. let me thank you as well. This was a tough call. And I do want to thank the leadership. Speaker BOEHNER. and our leadership. Leader PELOSI. Whip HOYER. and. of course. our ranking member of the Budget Committee. and the Ways and Means leadership as well. This is an important step forward because I can say to my constituents: We fixed some of your pain and your anguish. Madam Speaker. this bill quickly provides $80 billion. but I am so grateful that part of that deals with the plussing up of nondefense discretionary funding: child care. National Institutes of Health. and other very important issues. My seniors. I think it is very important to note that your Medicare premium part B will not go up in a 50 percent increase in 2016 and there will be less deep cuts in Social Security. more jobs being created. and as well we will have the opportunities. as I indicated. to increase NIH funding.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I am pleased to yield 1 minute to the gentleman from Pennsylvania . a terrific new Member of Congress.
Date: 2015-10-28
Speaker: BRENDAN F. BOYLE (democrat)
Chamber: H
State: Pennsyl

vania. Madam Speaker. I thank the gentleman. Madam Speaker. for the cynics who believe that nothing can happen in Washington and that we are permanently doomed to disarray. this has been a very bad week. First. with the ExportImport Bank. we see a majority of Republicans and an overwhelming majority of Democrats come together and reach a bipartisan compromise. and now here again with this big budget agreement. something that would avoid the catastrophic default. the first in American history if it were to happen. Madam Speaker. I dont agree with everything that is in this bill. but I agree with the majority of it. It is about time this body stopped allowing the 10 or 20 percent we disagree with to block the 70. 80. and 90 percent we agree with. This is a step in the right direction. This is progress. This is what we need to do more of. I am proud to support it.
Date: 2015-10-28
Speaker: VAN HOLLEN (democrat)
Chamber: H

Madam Speaker. I yield myself the balance of my time. Where we close is where we started. As we all recognize. this agreement is not perfect. but it certainly beats the alternative and is a positive step forward. It ensures the full faith and credit of the United States. We will pay our bills on time. It prevents damaging sequester cuts to our economy and allows us to invest more in education. in scientific research. and military readiness. It prevents a 20 percent cut to Social Security Disability beneficiaries. and it prevents a whopping Medicare part B increase for millions of American seniors. So. again. while many of us would like to see moreand I agree with those who have said that we need to invest more and address many of the other big issues our country facesthis is a positive step forward. Madam Speaker. I want to thank everybody who helped come together to make it possible. I urge its adoption. Madam Speaker. I yield back the balance of my time.
Date: 2015-10-28
Speaker: JACKSON LEE (democrat)
Chamber: H

I thank the gentleman from New York . the gentleman from Texas . and the gentleman from New York for their great leadership. Mr. Speaker. the good news is that we on the Committee on Homeland Security work together very well on many of these issues. I rise to support the Northern Border Security Review Act. H.R. 455. My colleague from Texas is the ranking member. I am delighted to be able to support a bill that captures all of what we have been speaking of over the years. As a member of Homeland Security. there are two borders. There is the southern border. for which I certainly have concern. as a Representative from Texas. but there is also the northern border. I am glad to say I have been to the northern border. walked along the northern border. Let me say thank you for the aspects of this bill. H.R. 455 directs the Secretary of Homeland Security to submit a classified northern border threat analysis on terrorism threats posed by individuals seeking to enter the United States. improvements needed at ports of entry. gaps in law. policy. international agreements. illegal crossborder activity. and the scope of the border security challenges. This is a complete picture of the Nations border. including whether additional preclearance and preinspection by CBP at ports of entry along the northern border could help prevent terrorists and their instruments from entering the United States. Canada has been a longstanding friend. I believe anytime that we can enhance both the relationship and the security of the U.S.-Canadian border. the northern border. it is a very positive step forward for the Nations security. Mr. Speaker. I ask my colleagues to join me in supporting H.R. 455. the Northern Border Security Review Act. Mr. Speaker. as a senior member of the Homeland Security. a former ranking member of its Border and Maritime Security Subcommittee. and a cosponsor. I rise today in strong support of H.R. 455. the "Northern Border Security Review Act." I would like to thank Chairman MCCAUL and Ranking Member THOMPSON of the Homeland Security Committee and Chairman MILLER and Ranking Member VELA of the Border and Maritime Security Subcommittee for their work on this vital legislation. Their leadership. coupled with input from members of the Homeland Security Committee and the Border and Maritime Security Subcommittee. have helped make this common sense legislation a reality. I very much appreciate the bipartisan spirit Chairman MILLER has displayed as we worked together on many border security initiatives over the past several years. The security of the Northern Border is an important area of concern in the effort to secure our homeland and keep it safe from those who would do us harm.
Date: 2015-10-28
Speaker: WATSON COLEMAN (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members have 5 legislative days to revise and extend their remarks and include extraneous materials on the subject of this Special Order.