tv U.S. House Approves Sanctions Bill CSPAN July 25, 2017 2:00pm-4:01pm EDT
two years tore an initial survey and a clinic in pittsburgh have been waiting. patients are forced to find clinics much further away and it can be a barrier to treatment. that's unacceptable and this problem will be easily solved by this provision. i want to thank my co-sponsor, congressman john lewis, the energy and commerce committee and ways and mean committee for moving this bill quickly to the house floor. this will allow dyalisis clinics to more easily obtain a survey. thank you. and i yield back the balance of my time. . mr. neal: i yield two minutes to the the gentlewoman from washington, ms.delbene, two minutes. the speaker pro tempore: the gentlelady is recognized. ms.delbene: i like to thank the chair and ranking member for
working with me to include a proposal in this bill that i developed with congresswoman black. congressman thompson, and congressman meehan modernizing medicare and harnessing the promise of telehealth to improve care for patients nationwide. allowing patients with end stage renal disease to receive dialysis at home can dramatically improve their health outcomes and quality of life. this is something i have heard consistently from providers in my home state of he washington, like the northwest kidney centers who do incredible work to help patients receive dialysis at home when medically appropriate. advances in telehealth hold great potential to extend this treatment option to more americans, particularly in rural communities. but there is still too many barriers to the use of cutting-edge technologies in medicare. there is a great need to update our laws to reflect these innovations and reimburse telehealth appropriately. otherwise we won't just be denying access to health care
today, we could be preventing the next frontier of innovations from even getting off the ground. without the long-term disability of medicare coverage, start-ups and entrepreneurs might never get the funding they need to develop new technologies and bring them to market. it's essential that we unlock the full potential of telehealth. by doing so we can improve patient cay, promote health, defeat heartbreaking diseases, and save lives. that's why i'm so glad we're taking this step today. thank you again to the committee for working with me on this important bill. i hope it's the first of many victories as we work together to expand telehealth. i urge my colleagues to vote yes and i yield back. the speaker pro tempore: the gentleman from ohio. mr. tiberi: mr. speaker, it's a pleasure to yield two minutes to the gentlelady from tennessee, a valuable member of the health subcommittee of ways and means. as you have already heard from previous speakers, has an important provision in this
bill. more porm brings the valuable training as a nurse who -- more importantly, brings the valuable training as a nurse who practiced before she came to congress. i yield to the gentlelady from tennessee, mrs. black. the speaker pro tempore: the gentlelady is recognized for two minutes. mrs. black: i thank my colleague for yielding two minutes to me on this very important issue. i also want to thank my micolleagues for working with me on this, both my colleague mr. meehan, mr. thompson, and ms.delbene, for working on a really important piece of legislation that's included in this package which will improve the quality of life for seniors on medicare across the country. and as previously said, i am a nurse. i have worked in the field for over 45 years. i'm proud to sponsor a bill that enhances patient kire for those patients -- care for those patients suffering from end stage renal disease. we have made tremendous advances in technology over the last decade. and now it would be almost something we couldn't have thought of 45 years ago,
physicians can remotely monitor patients and their dialysis treatment through telehealth to reduce the number of medical visits that are necessary, to ensure that the treatment is efficient and effective, and also catch signs of complications early, which would cause not only decrease in quality of care for the patient, but also a cost. so telehealth provides pasheents an important component in the comfort in their own homes. think about being sick and having to get in the car to travel. while physicians now have a new tool to treach their patients on whole health. our seniors deserve access to this innovative care. they can save money. help ensure that medicare can be there for seniors who most need the care. so i urge my colleagues to take a vote for your constituents and for medicare beneficiaries across the country and support this bill. i also look forward to continuing this work.
this is certainly not the end of what we can do for our patients who are home bound and need care at home, but continue this work with members on both sides of the aisle which is being done now. for sour nation's seniors to access these kinds of innovative telehealth technologies that will improve care and also not -- more importantly but as importantly help to lower the cost of treatment. i urge passage of this amendment. i yield back the balance of my time. the speaker pro tempore: the gentleman from massachusetts. mr. neal: i yield one minute to the gentlelady from california, ms. matsui, whose husband served with great distinction as a member of the ways and means committee. the speaker pro tempore: the gentlelady is recognized for one minute. ms. matsui: thank you, mr. speaker. mr. speaker, i rise today in support of h.r. 3178, the medicare part b improvement act, specifically a provision to extend the ivig demonstration project that chairman brady and i worked on together. i have long been a champion of those impacted by primary
immunodeficiency disease which includes more than 300 rare genetic diseases of the all of which keep the immune system from functioning properly. a mild infection can cause serious problems and even death for these patients. thank to the ivig democrato, with re beneficiaries immunodeficiency diseases are now able to receive in home therapy, immunodeficiency diseases are now able to receive in home therapy, meaning they can avoid community settings of care, which can be very important to people can compromised immune systems. i am pleased that this provision was included in the medicare part b improvement act. i urge support of this important bill. thank you. i yield back. the speaker pro tempore: the gentleman from ohio. mr. tiberi: continue to reserve. the speaker pro tempore: the gentleman from massachusetts. mr. neal: at this time, mr. speaker, i would like to yield four minutes to the gentleman from texas, mr. doggett. the speaker pro tempore: gentleman from texas is recognized for four minutes. mr. doggett: i thank the gentleman. as so often happens here, this
bill bears a somewhat grander title than its contents. medicare part b certainly does need improvement. and while i support putting in the statute what is already administrative practice, extending a demonstration project that appears to be working, and the other provisions that my colleagues have worked on in this bill, i think much more should have happened. ironic that at the very moment we're considering this bill, the united states senate across the hall is proposing to eliminate health care coverage for millions of americans. certainly this republican repeal effort does far more harm to far more people than we can collectively undo here in the house. with this rather modest piece of legislation. and there is one glaring omission from today's medicare
the very moment we're considering this bill, the united states senate improvement act. one subject that the republican leadership of the house ways and means committee fears. it fears not only doing something about this problem, it fears about even understanding the extent of the problem. and it certainly fears having y public hearings to explore this subject. that is the menace that is affecting millions of people across this country. pharmaceutical price gouging. this bill fails to address any this subject. at is the menace that is aspect of soaring pharmaceutical costs on part b medications for almost a year, a number of us, house democrats on the ways and means committee, have called on the chairman to at least schedule a hearing about all aspects, all categories of soaring pharmaceutical prices that not only mean financial ruin for too many families, aspect but also a burden, medicare and most any type of taxpayer financed
health care initiative. government approved monopolies for drug manufacturers are being exploited by charging the sick and dying whatever they might pay for a little more life, for a little more comfort, at monopoly prices. under long-standing existing law, it's been there before this congress ever got together, pharmaceutical companies are at required to provide average sales price data on part b medicare drugs. three years ago the office of the inspector general at the department of health and human services, found that at least 1/3 of the more than 200 manufacturers of part b drugs have not committed any of this average sales price data for some of their products. an additional 45 manufacturers had not been required to report any data. inspector general found that average ies in these
sales price files may affect taxpayer financed medicare payments. last month the nonpartisan medicare payment average advisory e commission came before the house ways and means committee and gave its report on medicare. it noted that this problem on average sales price data continues and that it's not been addressed by the congress as the inspector general had recommended. the republican majority has refused to do anything about this problem. it's blocked an amendment i offered in committee that simply implemented the recommendation of the inspector general and medpac to get that average sales price data and ensure all part b manufacturers report that data or penalized at a reasonable level. it would simply have ensured compliance with existing law to protect program integrity and to protect the taxpayer interest. you can be sure if the
republicans didn't want to know what the prices were, they certainly didn't want to do anything about the soaring prices and the impact on families. i support the bill but this is a missed opportunity that we should have employed to address a critical problem. i yield back. the speaker pro tempore: the gentleman from families. i support the bill but this is . mr. tea berery: -- mr. tiberi: i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. tiberi: as the previous speaker said he supports the bill, which i am pleased to hear that. as the chairman has said, as the ranking member has said, this is just the beginning. this is just the beginning and we can't let the perfect be the enemy of the good in this piece f legislation because there is very important bipartisan legislation that is meaningful to people in a home today somewhere in ohio or massachusetts, where very important bipartisan legislation that is home infusion is really important. or dialysis is really important. i am pleased that the ranking member from massachusetts has been so helpful on this bill. at this point i will reserve the balance of my time. the speaker pro tempore: the gentleman from massachusetts.
mr. male: is the gentleman prepared to close? mr. tiberi: i a -- i am. mr. neal: mr. speaker, i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. neal: i want to thank the staff for their hard work on this bill, including amy hall, melanie, mely -- emily, nick, jessica from the house legislative counsel's office, jennifer, lisa from c.m.s., and the staff of the congressional budget office, tom, rebecca yip, and laura. i want to thank them all for their very, very hard work. you have this rare opportunity, this rare moment we have brought agreement on this legislation and i hope all members of the house can find their way to be upportive of this legislation. i hope the path of
bipartisanship that we have chosen here can serve as a reminder what we can get done. with that i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from i hope the path of bipartisanship that we have ohi. mr. tiberi: thank you, mr. speaker. i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. tiberi: i say dita to mr. neal. -- ditto to mr. neal. the gentleman from massachusetts who i have a great relationship with. to all the words about the staff. in particular i also want to thank abby from my staff and emily and her team. it has been a pleasure working with your team as well. mr. levin, the ranking member of the health subcommittee. mr. speaker, this is a good step in the right direction. nd a first step in expanding access to high quality care and improving deficiency and delivery of care so seniors can better receive the care they need where they need it, which is so incredibly important. i really appreciate the comments of the ranking member and again want to remind everybody what the chairman said that this is just the beginning and hopefully this will be a template to access to high quality care muc more bipartisan support for the remainder of this year.
with that, mr. speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the question is, will the house suspend the rules and pass h.r. 3178, as amended. so many as are in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules suspended, the bill spaffed, without objection the motion to reconsider is laid upon the table. -- the bill is passed, without objection the motion to reconsider is laid upon the table. suspended, the bill spaf, without objection the motion to reconsider is laid upon the table. -- the speaker pro tempore: for what purpose does the gentleman from new york seek recognition? >> mr. speaker, i move that the
house suspend the rules and pass the bill h.r. 2182. the speaker pro tempore: the clerk will report the title of the bill. the clerk: h.r. 2182, a bill to require the comptroller general of the united states to submit a report to congress on the alternatives for the final island, on of plum preservation of the island for conservation, education, and research, and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from new york, mr. donovan, and the gentleman from new jersey, mr. payne, each will control 20 minutes. the chair recognizes the gentleman from new york. mr. donovan: mr. speaker, i ask unanimous consent that all members may have five legislative days to revise and extend their remarks preservati island for conservation, education, and research, and for other purposes. includeker pro tempore: and extraneous material on the bill under consideration. the speaker pro tempore: without objection. . mr. donovan: mr. speaker, i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. donovan: thank you, mr. speaker. mr. speaker, i rise today in support of h.r. 2182, the plum island preservation act, sponsored by my colleague from new york, mr. zeldin. this bill requires the
government accountability office to review the alternatives for the final disposition of the department of homeland security science and technology directorate's plum island animal disease center, commonly known as plum island. since 1954, plum island, located in sufficient objection county, -- suffolk county, new they are aging and nearing the end of their life cycle. that's why in 2005, d.h.s. announced that the work being conducted on plum island would be moved to a new federal facility in kansas. plum island will continue to operate until the national bioand agro-defense facility is fully operational and a complete transition has been made in 2022 or 2023.
this raises the question of what will happen to plum island once its activities are fully transferred over to the new facility. the department looked at this issue and in june of 2016 released a report that reviewed several options for the final disposition of plum island. this bill simply requires g.a.o. to review and analyze these alternatives to ensure all necessary information was taken into account before the department decides how to move forward with the final disposition of plum island. specifically, g.a.o. is to analyze the effects, possible implications and issues, and potential costs and revenue for each disposition. finally, h.r. 2182 suspends the sale of plum island until g.a.o. completes this thorough review and analysis of alternatives. my friend, representative zeldin, introduced h.r. 2182
with strong bipartisan support. h.r. 2182 is very similar to a bill that passed the house by voice vote last may. mr. speaker, i ask unanimous consent to include in the record a letter exchange between the chairman of the transportation and infrastructure committee and the chairman of the committee on homeland security agreeing to move this bill forward. the speaker pro tempore: without objection. mr. donovan: in conclusion, this bill ensures that there's adequate consideration of all the options for the disposition of the island. i urge all members to join me in supporting this bill, and i reserve the balance of my time. the speaker pro tempore: the gentleman from new jersey. mr. payne: mr. speaker, i rise in support of h.r. 2182, the plum island preservation act, and give myself as much time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. payne: thank you, mr. speaker. mr. speaker, since 1954, the plum island animal disease
center in new york, long island, has served as the nation's principal laboratory responsible for research on foreign animal diseases of livestock such as foot-and-mouth disease and other animal diseases. at plum island, the department of homeland security works with the u.s. department of agriculture to research and develop new vaccines and diagnostic tests for animal disease outbreaks and to defend international or accidental introduction of animal diseases into the united states. the tember 11, 2005, department of homeland security announced plans to develop the agro -- bio and agro-defense facility.
as a state-of-the-art laboratory for the study of diseases that threaten both america's animal agriculture industry and the health. envisioned by d.h.s., the 580,000 square foot facility would replace the plum island laboratory. following an extensive selection process, d.h.s. selected a site in manhattan, kansas, for the new lab, and the site is slated to be fully operational by december of 2022 . what h.r. 2182 aims to answer is the questions of what will happen to plum island when the defense -- d.h.s. vay indicates the facility. d.h.s. is -- vacates the facility. d.h.s. is studying the range of options for the property, including transferring it to another federal agency, state or local government or a
nonprofit organization for the purposes of education, research and conservation. in doing so, d.h.s. is expected to assess the full implications of each option, including costs, cleanup and hazard mitigation. h.r. 2182 requires the government accountability office, or g.a.o., to assess whether the forthcoming study is satisfactory to support a decision. in the event that the study is lacking in a key area, g.a.o. would be required to conduct its own study. importantly, h.r. 282 ensures that plum -- 2182 ensures that plum island cannot be sold to the government or to the ighest bidder.
with that, mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from new york. mr. donovan: mr. speaker, i yield as much time as he may consume to the distinguished gentleman from new york and the sponsor of the bill, mr. zeldin. the speaker pro tempore: the gentleman is recognized for as much time as he may consume. mr. zeldin: thank you, mr. speaker. thank you to mr. donovan as well for your support. i rise in support of h.r. 2182, to prevent the sale of plum island to the federal government to the highest bidder. situated it is -- situated at the gateway of the long island sound, i had the pleasure of visiting this treasured island. in addition to being a critical resource for research, 90% of the land has been sheltered for development, being a critical habitat for migratory birds,
marine mammals and plants. it is it's a essential cultural and historical resource as well with recorded history dating back to the 1700's. the island health the fort terry, which was used through the end of world war ii. since then, plum island has been utilized as a research laboratory and has since grown to become as the plum island animal disease center. in 2005, the department of homeland security, which currently has jurisdiction over the island, announced that the animal disease center research ould be moved to a new federal facility, the bio and agro-defense facility in kansas. to offset the cost of this relocation, the law was enacted that called for the private sale of plum island by the federal government to the highest bidder. however, because of the costs associated with the cleanup and closure of plum island and
because of local zoning restrictions, the federal government would receive little compensation for the sale of plum island. also, in the 12 years since the move to kansas was approved, the new facility in kansas is already fully paid for by a combination of federal appropriations and state and private funds. allowing for continued research, public access and permanent preservation of the island, h.r. 2182 will suspend the laws passed in 2008 and 2011 that mandated the public sale of plum island. this bill will commission the government accountability office in consultation with the department of homeland security, which currently owns the island, to formulate a comprehensive plan for the future of the island. it requires the plan focus on conservation, education and research and include alternative uses for the island, including a transfer of ownership to another federal agency, the state or local government, nonprofit or a combination thereof.
in the 114th congress, this bill passed the house unanimously with bipartisan support as h.r. 1887. my amendment to the financial services and general government appropriations act of 2017, h.r. 5485, which would have prohibited any of the funding within the appropriations bill to be used to market or sell plum island also passed the house as well. i'd like to thank the other members of congress who have co-sponsored this legislation and lent their support to this cause, especially my colleagues from connecticut, congressman joe courtney and congresswoman rosa delauro. i'd also like to thank house majority leader kevin mccarthy for bringing this bill to the floor, house homeland security chairman michael mccaul for all his incredible leadership and all the local elected officials, groups and concerned groups on long island who have taken an interest on this important issue. it's endorsed by the plum island coalition, an alliance
of over 65 community and environmental groups in new york and connecticut focused on the conservation of this island. i'm proud to work alongside all of the these great individuals and groups as we strive to save plum island. since taking office in 2015, one of my highest local priorities has been to protect plum island. preserving this island's natural beauty while maintaining a research mission will continue to provide important economic and environmental benefits for long island. i encourage all my colleagues to vote in support of this critical bill as well as for the senate to pass this legislation so it may be signed into law this year. thank you, mr. speaker. and i yield back. the speaker pro tempore: the gentleman from new jersey. mr. payne: mr. speaker, i'd like to yield two minutes to the gentleman from connecticut, mr. courtney. the speaker pro tempore: the gentleman is recognized for two minutes. mr. courtney: thank you, mr. speaker. and thank you, mr. payne, for your leadership on the homeland security committee and also for your hard work on this legislation which, again, is being closely watched back home
in connecticut and on the other side of long island sound, as mr. zeldin indicated, in the state of new york. i rise in strong support with my colleague for passage of h.r. 2182, the plum island preservation act. this has been an effort that the en ongoing since congress unfortunately took i think a wrong turn when they enacted legislation in 2009 with the goal of trying to create funding for the national bio and agro defense facility in kansas but in the process of doing that, set up a truncated sale of this property which really deviated from the normal g.s.a. process of trying to exhaust other beneficial uses before putting up to sale for the highest bidder. again, that's been the struggle for both sides of long island sound which has been frustrated that congress mandated a sale without any other options, the
incredible pristine environmental quality of this precious piece of property was basically pushed down the food chain in terms of, again, the way the federal government was operating. again, i think it's important to recognize, and my colleagues from new york, mr. donovan and mr. zeldin, understand this is still the most densely populated area of america. the boat traffic, the maritime traffic that flows through long island sound is the busiest in the country and to have a piece of property that is this precious and this pure, which mr. zeldin visited and i think he can attest to that personally and i've sailed passed -- sailed past it, is really an opportunity that we cannot allow to go to a developer that would be -- that would make that quality forever lost. so this legislation, which stops the 2009 process in its tracks, has g.a.o. step in and do a full complete analysis across the board, evaluating
all options. in particular, the options of preserving this unique environmental asset is the right move for our country and, again, it will be to the benefit of generations to come. so, again, i want to congratulate mr. zeldin for his persistence. again, we did get it through the last congress, 114th. i think getting this done early in the 115th congress will hopefully allow us the opportunity to get -- can i get 30 seconds? mr. payne: i yield the gentleman another 30 seconds. mr. courtney: thank you, mr. payne. again, it will give us the opportunity to hopefully get some bandwidth in the senate's floor schedule to finally get this to the president's desk and, again, forever protect an asset for generations to come. so, again, i urge strong support for this measure and i yield back the balance of my time. the speaker pro tempore: the gentleman from new york. mr. donovan: mr. speaker, i have no other speakers. if the gentleman from new jersey has no other speakers, i'm prepared to close once the gentleman does. the speaker pro tempore: the
gentleman from new jersey. mr. payne: mr. speaker, i'd like to offer the gentlelady from connecticut two minutes. the speaker pro tempore: the gentlelady is recognized for two minutes. ms. delauro: thank you. i rise in strong support for this legislation. it directs the comptroller of the united states to submit a report to the congress on alternative uses for plum island. the report underscores its ecological significance. that's what it would do. need to be protected and it would be an important step toward identifying conservation alternatives to selling plum island. i believe that plum island should be a unit of the national wildlife refuge system, ensuring we would safeguard the island's sensitive wildlife and ecological value. plum island is the largest area in southern new england where seals can rest on dry land. ts 843 acres are home to two birds. we need to proceed very carefully when considering the future of plum island.
this is a refuge for wildlife, native plants and once it is developed it cannot be restored which is why the legislation is so important. by evaluating the uses of plum island fully rather than selling it to the highest bidder, we can ensure that this ecological, historical and cultural treasure can be protected for generations to come. proud to join with my colleagues, congressman zeldin, congressman courtney on a bipartisan basis to ensure that the environment is respected in our region and across the country. i urge my colleagues to support this bill, and i thank the gentleman from new jersey for his time. i yield back the balance of my time. . the speaker pro tempore: the gentleman from new jersey. mr. payne: no other speakers. i'm ready to close. the speaker pro tempore: the gentleman from new jersey. . payne: mr. speaker, h.r.
2182 has broad support on both sides of the aisle as we can see. plum island has a history dating back to the 1700's and has been owned by the federal government since 1899. the bill takes steps to ensure that this critically, culturally, and historically important fight is not sold until all relevant questions are answered regarding the final disposition of plum island and thattle satisfactory, comprehensive plan has been developed. i urge my colleagues to support this important piece of legislation. with that, mr. speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from new york. mr. donovan: mr. speaker, i once again urge my colleagues to support h.r. 2182, and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the question is, will the house suspend the rules and pass h.r. 2182. so many as are in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded
the speaker pro tempore: for what purpose does the gentleman from california seek recognition? move ce: mr. speaker, i the house suspend the rules and pass h.r. 3364. the speaker pro tempore: the clerk will report the title of the bill. the clerk: h.r. 3364, a move the house bill to provide congressional review and to counter aggression by the governments of iran, russian federation, and north korea, and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from california, mr. royce, and the gentleman from new york, mr. engel, each will control 20 minutes. the chair recognizes the gentleman from california. mr. royce: i ask unanimous consent that all members may have five legislative days to evise and extend their remarks and to include any extraneous material for the record. the speaker pro tempore: without objection. mr. royce: thank you, mr. speaker. i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. royce: thank you. mr. speaker, now this bill represents a very broad bipartisan house-senate agreement that the united states
must enforce tougher sanctions against north korea, against russia, against iran, and i want to thank the ranking member of the foreign affairs committee, mr. eliot engel of new york, for his determined and excellent work on this legislation. this is a very important bill. these three regimes in different parts of the world are threatening vital u.s. interests, and they are destabilizing their neighbors. it is well past time that we force fully respond -- forcefully respond. under putin, russia has invaded its neighbor, ukraine, seizing its territory and destabilizing its government. it poses a threat to our nato allies in europe as moscow works to undermine democratic values with determination and sophistication. as u.s. intelligence agencies
have made clear, this former kgb colonel attempted toint fear with our own election. left unchecked, russia is sure o continue its aggression. putin's forces continue to prop up the murderous assad regime in syria, prolonging a deadly, deadly conflict that has driven tens of millions of people from their homes while enabling the chemical s shall -- weapons and other systematic human rights abuses chemical weapons and other systematic human rights abuses against the people of syria. the russia sanctions in this bill are substantially similar to those that overwhelmingly passed the other body. they give the administration important economic leverage. they give it diplomatic leverage targeting the targeting the th matter to putin. and that matter to his allies the most. and that is their corrupt efforts to profit from the country's oil wealth and their
ability to sell weapons overseas. to focus their impact, we clarified several provision that is could have inadvertently companies' an control of global energy projects and impacted pipelines that our european allies rely on in an effort to end their dependence on russian gas. so this strengthens the bill to ensure these economic sanctions remain in place as long as putin's aggression continues, this bill empowers congress to review and disapprove any sanctions relief. this strong oversight is necessary, it is appropriate. after all, it is congress that the constitution empowers to regulate commerce with foreign nations. mr. speaker, russia has found a willing partner in iran. the regime's iranian revolutionary guards are
fighting alongside russian forces in syria. at the same time tehran continues to threaten israel by providing funding and advanced rockets and missiles to hezbollah. hezbollah is its leading terrorist proxy. it continues to hold americans hostage while developing intercontinental ballistic missiles capable of delivering nuclear weapons. to strengthen the u.s. response to the threat from iran, this bill includes provisions my inally introduced by counterpart, senator corker, which increase sanctions on those involved in the regime's human rights abuses and its support for terrorism, as well as its efforts on the ballistic missile program, which for the iranian revolutionary guards forces control. finally, i am proud that this bill includes the text of h.r. 1644. this is the korean interdiction
and modendization of sanctions action -- modernization of sanctions act, which we passed in may, we passed it out of the house by a vote of 419- 1. these provisions strengthened in consultation with the other body, expand sanctions targeting north korea's nuclear weapons program, but they also go after those around the world who employ north korean slave labor. this is a human rights abuse. it's one that operates by having a situation where the endentured the check fed, but instead of going to the workers goes to the regime. and that money then goes into the nuclear weapons program. it is estimated the check instead of going to the workers goes that this earns hundreds of millions of dollars for the regime in hard curncy. -- currency. with every test, kim jong-un's
regime comes closer to be able a nuclear warhead on a missile capable of reaching the u.s. mainland. up an ly cannot pass opportunity to increase pressure in response to this threat. mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentleman from new york. mr. engel: thank you, mr. speaker. i rise in support of this legislation. i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. engel: i want to first of all thank colleagues on both sides of the aisle for all the hard work that's gone into this legislation so far. i want to especially thank our chairman, ed royce, who has been my partner on this committee for nearly five years. we have passed excellent legislation. the legislation today just adds cant, and it shows what you do when you work in a bipartisan way. i want to thank the chairman for all his hard work and all his courtesies. i support can do when you work this bill. i certainly plan to vote for it.
but it seems we may be on the floor before we ironed out alt differences with the other body. -- out all the differences in the other body. there have been issues with the north korean sanctions which already passed in the house with a royce-engel bill and should have been taken up by the other track. a separate instead, it's now put into this body. i hope we don't face further delays when this bill gets back to the other track. instead, house. our job isn't done until we get this thing across the finish line. and we need to do that because this bill is critical to our national security. it does far more than just send a message to leaders in russia, iran, and north korea. it exacts a heavy price for their aggressive and destabilizing behavior. just like the bill we already passed, this legislation would update and expand our sanctions on north korea, closing loopholes that have allowed money to flow to the kim regime. funding its legal -- illegal
weapons program, crack down on the trading partners, banks, and shipping vessels that enable the regime and goes after the regime's lucrative enterprises whether exported goods or pill fred wages of north korean labors sent abroad to work. with respect to iran this bill so many of the things iran's leaders do to drive violence and instability from tehran's ballistic missile program and support for terrorism. to the regime's abhorrent human rights record and efforts to build up its military. i have said this again and so m things again that we need to hold the regime's feet to the fire on all these issues. this bill does exactly that. and finally, on russia, this bill is a strong direct response to putin's efforts to undermine american democracy. it imposes new sanctions on those who want to do business with putin's cronies or with russia's military or intelligence.
it strengthens existing sanctions for russia's illegal annexation of crimea, an armed intervention in eastern ukraine. it pushes back against russia's cybercrimes, including a hacking of our election to help donald trump, a story which congress and the special counsel are still trying to get to the bottom of, as well as putin's support for the murderous assad regime in syria. it gives the congress a strong oversight role in making sure that these russian sanctions are not lifted prematurely. this administration has shown over and over that they are willing to cozy up to putin. here's the truth, russia is not our ally. putin wants to harm the united states, slinter our alliances, and undermine western democracy. this congress will not allow him to succeed. i'm glad to support this bipartisan bill. i thank the chairman once again. we need to keep working to make sure this bill gets to the president's desk. i reserve the balance of my time. the speaker pro tempore:
the speaker pro tempore: the gentleman from california. mr. royce: yes, in recognizing the gentleman from texas, mr. mike mccaul, i just want to thank him for his good work to strengthen the bill, as he will discuss, and for his focus on pipelines that primarily carry oil and gas through russia that compete, that compete with russian gas and drives down the price of gas, with that i yield mr. mccaul two minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. mccaul: i rise to increase sanctions on russia, north korea and iran. i thank chairman royce and ranking member eliot engel for their leadership on this issue. i cannot overstate the importance of sending a strong message to our adversaries that there will be consequences for their bad behavior. back in october of last year at the height of the presidential campaign, i was briefed by our intelligence community. they told me that russia engaged in a blatant effort to meddle in our domestic affairs
and specifically our democratic process. i was an outspoken supporter of the need for a strong response then, and i remain so now. however, in the process of making russia pay in economic costs for their bad behavior, we must ensure we are not harming u.s. interests at home and abroad. i want to thank chairman royce for clarifying that section 232 of this bill only applies to russian energy export pipelines. we should not be in the business of sanctioning pipelines that help provide energy independence from russia. putin uses this as a tool to provide political leverage over his neighbors. so, again, i want to thank chairman royce for his leadership in working with me on this. i think clarification to the senate companion and his leadership in the house on this important issue and with that i yield back the balance of my time. the speaker pro tempore: the gentleman from new york. mr. engel: thank you, mr. speaker. i now yield two minutes to my
colleague on the foreign affairs committee, the gentleman from rhode island, mr. cicilline. the speaker pro tempore: the gentleman from rhode island is recognized for two minutes. mr. cicilline: i thank the gentleman for yielding. thank you, mr. speaker. i rise in support of h.r. 3364, the russia, iran and north korea sanctions act. i thank my colleagues, chairman royce and ranking member engel, for all of their work in reaching this important agreement. this bill will ensure that russia, iran and north korea and those that work with them will suffer consequences for their bad behavior. this -- passage of this legislation is important to hold iran accountable for its support for terrorism, human rights violations and continued defiance of international treaties, including on ballistic missiles. today we're taking an important step towards holding the iranian government, including the irgc, and anyone who seeks to support them accountable for their bad actions. anyone who contributes to iran's ballistic missile program, supplies it with its with weapons or assist the -- supplies it with weapons or
assist with terrorists will be sanctioned. we will show our allies in iran that the united states is serious about continuing to enforce violations of international law. i'm also pleased to see additional sanctions imposed upon russia and north korea in this legislation. the human suffering that north korea has brought upon its own people is unimaginable. such a depraved leader such as un-- kim jong un getting missiles is bad. russia interfered in our 2016 elections. this is the fundamental foundation of our democracy, our elections, and we simply cannot allow any foreign country interfere. let's not mistake it for anything else, it was an attack on america. it's become necessary for congress to assert its role in
this area and ensure russia will be held accountable. so, again, i thank chairman royce and ranking member engel, leader pelosi, whip hoyer, members of the senate who worked to get this bill to the floor and with that i ask my colleagues support this legislation and yield back the balance of my time. the speaker pro tempore: the gentleman from california. mr. royce: thank you, meesh. i yield two minutes to the gentleman from new jersey, mr. smith. chairman on africa, global health, global human rights and international organizations. the speaker pro tempore: the gentleman from new jersey is recognized for two miss. mr. smith: i want to thank you for sponsoring this important bill. this brings stiff and timely sanctions against iran, russia and north korea. the administration was absolutely right in early february to put iran on notice regarding its continued testing of ballistic missiles. this bill underscores that warning by imposing expanded sanctions against iran's missile program, demonstrating that the united states will not sit idly by as iran augments its ability to blackmail united
states, israel and its allies. -- our allies. as the world's largest sponsor of terrorism, it imposes sanctions on the irgc. it very importantly as well imposes sanctions on individuals responsible for iran's human rights abuses. the state department suggests there are as many as 800 political prisoners in iran alone. it also reminds us and draws attention to iran's despicable practice of arresting american citizens and using them as chips. putin's invasion of the ukraine and annexation of crimea, bombing of syria and threatening behavior toward our nato allies, above al t blocsak iimrtt esct t wst aorinhe ol at tay ut's germe h pse thea oggssecon agn ioct op aoa. t n fgein00--nd i s he at s
pnig, te ssns iad grg d aned ty. aso rtora, agug mauedg s uny,e stutffllecom lileso imonun a nih pngng cen a abrs gornnt ats rkg reisle a mnso devethmnes ban seouy. hi giatn esha th ve, erstf sctns i wt tnkhama rce ioenl,l t mory ad cahyanstyoy hprcialposo o eil ieac e speaker pro tempore: the gentleman from new york. mr. engel: thank you, mr. speaker. i now yield one minute to our colleague on the foreign affairs committee and member of the intelligence committee, the gentleman from texas, mr. castro. the speaker pro tempore: the gentleman from texas is recognized for one minute. mr. castro: thank you. and thank you, ranking member engel, for yielding. and i also want to thank chairman royce for your leadership on the sanctions
package. the american people have been waiting some time for the sanctions package to finally pass. this bill dials up our current sanctions on north korea, iran and russia to hold their governments accountable for their destabilizing actions. the russia piece in this package is particularly necessary. russia has flagrantly violated international law by invading ue crane and interfering in american and -- ukraine and interfering in american and other elections. it will hold them accountable for their actions. it's a declaration that congress can and will act even when president trump refuses to do so. in addition to these sanctions, congress must continue to investigate to determine the scope of russia's attack on america's democracy and teash which americans, if any -- establish which americans, if any, had something to do with it.
i thank you and yield back. the speaker pro tempore: the gentleman from california. mr. royce: i yield two minutes to the gentleman from texas, mr. hensarling, chairman of the committee on financial services. the speaker pro tempore: the gentleman from texas is recognized for two minutes. mr. hensarling: i thank the gentleman for yield and certainly thank him for his leadership on this very important bill. so i rise in support of the russia, iran and north korean sanctions act. and mr. speaker, i particularly want to highlight the provisions that are the product of the hard work of the financial services committee's subcommittee on terrorism and illicit finance. the inclusion of these provisions will undoubtedly assist our government's anti-money laundering and counterterrorist financing efforts. for instance, this bill includes language directing the president acting through the secretary of treasury to develop and maintain a national strategy for combating the financing of terrorism and related forms of illicit finance. the opportunistic nature of terrorist groups, combined with the emergence of financial
technology, creates new challenges for our law enforcement opportunity and their efforts to disrupt terror finance. national strategy should also seek to enhance partnerships with the private sector that prevent and detect illicit financing and increase efforts to facilitate compliance with our anti-money laundering and counterterrorist financing laws. i'd like to commend congressman ed bud for introducing the illicit financing act which is entirely corporated into the section 2 of the underlying legislation. i'd also like to recognize congressman pearce and congressman pittinger, the chairman and vice chairman of the subcommittee. their leadership on these issues have been instrumental to achieve the legislation that is before us today. we know, mr. speaker, that thomas jefferson once famously said the price of liberty is eternal vigilance and that is
indeed true. thanks in no small part to the hard work of the subcommittee on terrorism and illicit finance, the bill before us today ensures we remain vigilant to address the evolving threats to our financial system. and i am proud to support it and encourage all members to support it and, again, i want to thank chairman royce for his leadership today on this bill and in our committee and i yield back the balance of my time. the speaker pro tempore: the gentleman from new york. mr. engel: thank you, mr. speaker. i now yield three minutes to a gentleman who was instrumental in putting this bill forward, who has been with us every step of the way and so invaluable to this finished product. that's the distinguished democratic whip, the gentleman from maryland, mr. hoyer, and i yield him three minutes. the speaker pro tempore: the distinguished whip is recognized for three minutes. mr. hoyer: i thank the gentleman. i thank the ranking member for yielding, mr. engel, and i thank mr. royce. i have said this before, i will say it again, mr. royce as
chairman and mr. engel as ranking member are example, frankly, for all of us how to work together productively in a bipartisan fashion to reach a result that's good for our country, for our people and indeed for international security. i also want to thank senators cardin and corker for their leadership and their involvement. this legislation is the product of very careful and sometimes difficult negotiations on a bipartisan basis. it is strong, tough and an appropriate response for russia's attempts to meddle in our election process, its support for violent separatists in ukraine, its illegal occupation of crimea and and, es, it's unhelpful work in syria. this threatens our gulf allies and israel. russia's power comes from its
ability to coerce other nations by its energy distribution in many instances. this bill seeks to make it harder for russia to use that type of coercion and empower other nations to join us in standing up against russian aggression. these sanctions will only be successful, however, if they are truly bipartisan and if congress continues to play its important and necessary oversight role. democrats and republicans are coming together on this bill, mr. speaker, to ensure that the president cannot alter sanctions toward russia without congressional review. this is a critical -- this is critical at a moment when our allies are uncertain about where this administration stands with respect to russian aggression. i remain open to additional sanctions on russia's energy sector at a later date if the russian leader and his associates fail to heed the
message of this bill that their business as usual cannot and must not continue. once this bill passes the senate, as i believe it will, russia will know that sanctions levied because of its benevolent acts will be lifted only with the concurrence either tassidly or expressly of the congress of the united states. there will be no side deals or turning a blind eye to its actions. this legislation, mr. speaker, will also make it clear that russia's interference in ukraine comes with consequences and it puts pressure on iran to end its ballistic missile program. in addition, it deters hopefully north korea from pursuing its dangerous development of nuclear weapons and vehicles to deliver those weapons as close as the western part of this country.
i urge my colleagues to support this legislation and send it to the senate as quickly as possible and yield back the balance of my time. the speaker pro tempore: the gentleman from new york -- or the gentleman from california. mr. royce: well, mr. speaker, i wanted to recognize the good work of the democratic whip, mr. steny hoyer, and also the republican leader, kevin mccarthy, on this legislation and thank them. mr. hoyer: if the gentleman will yield? frankly, all four of us, yourself, your leadership, mr. engel, the majority leader and i were primpled to work together in -- privileged to work together in a way, as i said at the beginning, was constructive and i think has resulted in a very good product. i thank the gentleman. mr. royce: thank you. mr. speaker, i'd like to yield to the gentleman from texas, mr. pete sessions, he's the chairman of the rules committee, for the purpose of a colloquy. mr. sessions: i want to thank the chairman for yielding. i rise to applaud him for the hard work and the responsible actions that the chairman has taken, not only to ensure this piece of legislation is prepared but bettered and ready
to go back to the senate. i think we have a forceful sanctions bill that is before the house today and one that targets not only iran and russia but also the north korean regime. as you know, the bill that was passed by the senate risks giving russian energy firms a competitive advantage across the globe by inadvertently denying american companies access to neutral third-party energy markets where there would simply be a small russian presence. the bill before us today prevents russia from being able to weaponize these sanctions against u.s. energy firms, and i want to thank chairman royce for his hard work on this issue. . i also want to ensure we have an understanding of the definition of the word controlling in section 223-d of h.r. 3364. for purpose of clarification and legislative intent, the term
controlling means the power to direct, determine or resolve fundamental operational and financial decisions of an oil project through the ownership of an majority of the voting interest of the oil project. i would ask the gentleman, the young chairman, if he agrees with that definition? mr. royce: yes. that is my understanding. mr. sessions: i thank you for not only the clarification but making sure that we are most specific in what we are undertaking. i'd also like to note that the pipeline in the southern gas quarter projects will continue to be able to bring gas from the caspian sea, which is a huge find, to our european allies. reducing their dependency on russian energy. mr. royce: that is minding. mr. sessions: i thank the gentleman and i thank him for his time on the colloquy. the speaker pro tempore: the gentleman from new york.
mr. engel: mr. speaker, i now yield 1 1/2 minutes to one of my senior colleagues on the foreign affairs committee, the ranking member of the terrorism subcommittee, the gentleman from california, mr. sherman. the speaker pro tempore: the gentleman from california is recognized for 1 1/2 minutes. mr. sherman: i thank the gentleman for yielding. i rise in strong support of this bill. which is really a combination of three bills. first, as to north korea, it embodies a bill passed on this floor last month, introduced by chairman royce, ranking member engel, mr. yoho and myself, from the asia subcommittee. we will expand our sanctions on north korea's precious metals, minerals, jet fuel, coal, and across the board, and especially banking sanctions, but keep in mind, malt matly we have got to force -- ultimately we have got to force china to decide whether they're going to support north korea or whether they're going to have access to american markets. we can't let them have both.
as to iran, this bill designates the entire iran revolutionary guard corps as the cudes force has already been designated -- quds force has already been designated, as subject to terrorism sanctions, provides an arms embargo. and let us remember that the real face of this regime in tehran is not their foreign minister, but rather it is the hundreds of thousands who have died in syria as a result of iranian action. speaking of countries that have supported assad, finally and perhaps most importantly, this bill provides sanctions against russia, necessary because of its actions in the ukraine and its interference in our elections. we hit russia in a very important way. by dealing with the technology they would need to export oil. unfortunately, even under this very strong bill it would take a 2/3 vote for us to block a
sanctions waiver, should our resolution be vetoed. i yield back. the speaker pro tempore: the gentleman from california. mr. royce: yes. i yield two noins the gentleman from texas, judge poe, chairman of the foreign affairs subcommittee. the speaker pro tempore: the gentleman from texas is recognized for two minutes. mr. poe: i thank the chairman and the ranking member for their work on this legislation. mr. speaker, i've spoken to our military leaders and they said that the biggest threat to the united states is north korea. strategic patience is over. it's time for strategic sanctions. this bill will go a long way to tighten the screws on little kim and bring the dictator to his knees. question no longer stand by meekly while north korea terrorizes the world. this bill includes my bill that has already passed the house that calls on the state department to reassess if north korea should be on the state sponsor of terrorism list. let us not forget that north korea helped supply syria with chemical weapons.
it has given iran ballistic missiles and advice on how to develop its own nukes. north korea and iran's evil cooperation is even going on as we speak today. they are now working together to develop an intercontinental ballistic missile that can reach american shores. this bill also puts china in the crosshairs. chinese banks have enabled the korean regime to avoid sanctions and build its illegal weapons programs. china even provided the vehicle used to launch the north koreans' new icbm. china also uses slave labor from north korea to help north korea avoid sanctions already in place. china needs to understand how its support for kim will not only endanger the united states in south korea, but it also endangers its own security. by targeting these rowing nations, we show -- rogue nations, we show we will not go away quietly in the darkness of science. and that's just the way it is.
i yield back. the speaker pro tempore: the gentleman from new york. mr. engel: mr. speaker, i yield 1 1/2 minutes to one of our senior members on the foreign affairs committee, the gentleman from virginia, mr. connolly. the speaker pro tempore: the gentleman from virginia is recognized for 1 1/2 minutes. mr. connolly: thank you, mr. speaker. and i thank the distinguished ranking member, mr. engel. mr. speaker, today this house comes together on a bipartisan basis, to address sanctions and the rules on sanctions for north korea, iran, and, most importantly perhaps, russia. importantly, because there's been a lot of doubt about whether this congress would ever again speak eloquently and forcefully about russian behavior. today we answered that question. overwhelmingly we say, russia's behavior is unacceptable in many, many ways. not least of which is the
incursion of sovereign territory of its neighbors. specifically georgia, ukraine. including the crimea. i vote easily and enthusiastically for this resolution today. but it must not be construed nsk use it references the mi agreements that that means we don't mean to continue sanctions on the crimea -- the crimean invasion. we do. and the chairman and ranking member of our committee, we'll continue to be vigilant on that until that illegal annexation is ended. i commend the leadership for bringing this resolution to the floor. and i am proud today to be a member of this body in speaking with one voice about russian behavior. and the need for sanctioning it. i yield back. the speaker pro tempore: the gentleman from california. mr. royce: i yield one 911 the gentleman from new jersey, mr. lance, a member of the committee on energy and commerce. the speaker pro tempore: the gentleman from new jersey is recognized for 1 1/2 minutes. mr. lance: thank you, mr. speaker. i rise today in strong support
of this sanctions bill. the governments of iran, north korea, and russia do not share american values or interests. and are active threats to our national security. these regimes will see a united message from the congress of the united states with an overwhelming vote in favor of strong sanctions. iran is the world's leading state sponsor of terrorism. north korea, the most dangerous and isolated place on earth, has tested long range missiles, demonstrating a frightening potential to target our west coast. and russia has intolerabley involved it self in our nation's democratic electoral process. its invasion of crimea and sanctions -- actions in the ukraine are totally unacceptable. but let us act decisively today and put these states on notice. violate international law by threatening the united states and thereby face the consequences. i urge a yes vote and yield back the balance of my time. the speaker pro tempore: the gentleman from new york. mr. engel: mr. speaker, i now yield two minutes to the ranking member of the financial services committee, the gentlewoman from
california, ms. waters. the speaker pro tempore: the gentlelady from california is recognized for two minutes. ms. waters: thank you very much. i thank ranking member engel for his leadership and for the time. and i thank the chairman for his leadership and the way that he's worked with our side of the aisle. i rise in support of the russia, iran and north korea sanctions act. legislation that is desperately needed to prevent this administration from rolling back sanctions tied to russia's invasion of ukraine and interference in our elections. this bill's enhanced sanctions on russia are important in light of the actions of russian president vladimir putin, not to mention the many ties between the trump administration and the kremlin. in a recent development, the treasury department confirmed that exxonmobil violated existing russian sanctions while under the leadership of rex tillerson. who is now donald trump's
secretary of state. indeed, in 2014 exxon signed documents related to oil and gas . ojects in russia a russian state-owned oil giant. he was one of the individuals subject to sagses. -- sanctions. exxon was fined a mere $2 million. a slap on the wrist for a company that earns $7.8 billion in profits in 2016. russia is continuing its aggression in ukraine. it is supporting the murderous regime of about a saar al-assad in syria -- of al-assad in syria. and it interfered in the 2016 u.s. election. that's why we must strengthen the sanctions against russia and we must block rex tillerson and donald trump from waiving or lifting those sanctions without review. before closing, i would also note that the legislation before us also includes several measures championed by democrats on the financial services committee. these provisions will focus the
government on creating a national strategy to combat the financing of terrorism, enhanced treasury's tools for combating money laundering vulnerabilities, such as well known risk in high end real -- te and the speaker pro tempore: the gentlelady's time has expired. ms. waters: i thank so very much. i yield back. the speaker pro tempore: the gentleman from california. mr. royce: i yield one minute to the gentleman from north bud.ina, mr. mr. budd: thank you, i rise today in strong support of h.r. 2364679 i'm proud of the bipartisan language in the bill which would create a national strategy for combating terrorism and illicit finance. the financing of terrorism and related forms of elicit finance -- illicit finance provide a direct threat to our national security and financial system. so it is critical for the government to create and maintain a unified strategy to fight financial crime.
both to accommodate new and developing threats, and to help congress develop legislative and funding priorities now and in the future. additionally, a national strategy should seek to enhance intergovernmental cooperation and to identify illicit financing trends and to encourage federal agencies to work with the private financial sector to do the same. mr. speaker, this bill does these things and will go a long way in making sure we are keeping pace with the ever-changing terror finance landscape. i'd like to thank chairman hensarling for his extraordinary leadership on the financial services committee, and for helping to include this language in the overall bill. additionally, i want to thank the chairman of the terrorism and illicit finance subcommittee, mr. pearce, and for his support and for my colleague, ms. sinema, for her work on this as well. with that, i yield back. the speaker pro tempore: the gentleman from new york. mr. engel: thank you. no sooner said than done, the my pleasure to yield one minute to my friend on the financial services committee, the gentlewoman from arizona, ms. sinema.
the speaker pro tempore: the gentleman from arizona is recognized for one minute. sinn sinn i rise today in -- ms. sinema: i rise today in support of the bill. the regimes in these countries continue to undermine global peace and security and threaten the safety of the united states and our allies. their unfortunates -- efforts to undermine democracy is particularly troubling and demand a strong response. i thank chairman royce and ranking member engel for their bipartisan legislation that counters these regimes and ensures strong oversight by congress and the american people. the safety and security of our communities and our country must come before partisanship. i also thank the chair and ranking member for introducing our bipartisan legislation introduced with congressman budd to establish a hole of government -- whole of government strategy to combat the financing of terrorism. current efforts to counter this lacks sufficient coordination and the has no unified national strart to guide our efforts. money is the life blood of any organization. we must establish a comprehensive and effective
strategy to deny money to terrorists. this strategy will enhance detection, deterrence and prosecution and ultimately strengthen our broader national security goals. again, i thank the chair and ranking member for advancing this important bill and urge my colleagues to vote yes. i yield back. the speaker pro tempore: the gentleman from california. mr. royce: i continue to reserve, mr. speaker. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from new york. the gentleman from new york. mr. engel: i'm sorry. it's now my pleasure to yield one minute to my friend on the appropriations committee, the gentleman from ohio, mr. ryan. the speaker pro tempore: the gentleman from ohio is recognized for one minute. mr. ryan: i thank the gentleman. i want to thank the chairman and the ranking member for their leadership on this. this clearly is a big issue pressing the country. and i just wanted to rise in support of what's happening here today, of taking a firmer stance on russia, iran, and north korea. trying to stabilize the pins la. trying to take -- peninsula.
trying to take care of the funding that's coming out of iran to all of these terrorist groups across the country. and across the world. and just say that what's happening with these sanctions here, in the targeting of russian gas pipelines, their number one export, i think, is entirely appropriate. the nortstream 2 which carries gas from russia through the balance tacks to germany, and i know -- baltics to germany, and know germany isn't happy about it, but this is something we have to do. we have to address this issue in a comprehensive way. we must continue to focus on how we get our gas here in the united states, our natural gas to europe, to our allies, so they're not so dependent on russia. we have to have the sanctions, but we also got to be shipping liquid natural gas to some of these allies of ours so they're not so dependent on the russians, which is part and parcel of this entire approach. i yield back the balance of my ime.
mr. royce: i continue to reserve. mr. engel: it's my pleasure to yield one minute to the the gentlewoman from illinois, a respected member of the energy and commerce committee, ms. schakowsky. ms. schakowsky: i rise in support of today's sanction legislation which i'm see that it has complied with the iran nuclear agreement. experts, the international community and even some of president trump's own advisers agree that the iran nuclear agreement is working. in june, the international atomic energy agency certified that iran is within the limits set by this historic deal. there are serious issues left to be addressed with iran, especially in regards to human rights violations and ballistic missiles, which this bill covers. the iran deal took nuclear weapons off the table and allowed us to deal with these
remaining challenges, withdraw ing or violating the agreement would be an enormous mistake. this upholds our agreement with iran and holding russia and north korea accountable for their actions. i urge my colleagues to support this legislation and i yield back. the speaker pro tempore: the gentleman from california. mr. royce: i continue to reserve. mr. engel: i now yield one minute to the gentleman from north carolina, mr. price. the speaker pro tempore: the gentleman from north carolina is recognized. mr. price: i rise to stress two critical aspects of this legislation, it would imfoes tough sanctions on its -- the its cyber russia and interference in the 2016 election. in the present context, it would prevent president trump from removing or softening existing sanctions without congressional approval.
second, the bill addresses iran's unacceptable behavior in the nonnuclear realm such as human rights violations and financing of terrorism. he jcpoa celebrated its second anniversary two weeks ago and has given 24/7 access and provided a mechanism to ensure that iran's activity is solely peaceful and along debated iran's breakout time for over a year. as the united states continues o monitor the jcpoa and iran's behavior, it is important that congress continue to refrain from actions that would violate the deal, threaten the deal or impose careless sanctions that under the guise of being tough .n iran -- i thank the chairman so as the united states continues to monitor the jcpoa and iran's behavior, it's
important that congress continue to refrain from actions that would violate the deal, threaten the deal or impose careless sanctions that under the guise of being tough on iran would make united states less safe. this legislation meets that test and i urge its adoption. and i yield back. the speaker pro tempore: the chair would inform the manager the gentleman from california has three 1/2 minutes remaining. mr. royce: i reserve the right to close. the speaker pro tempore: the gentleman from new york has one minute remaining. mr. engel: on putin's orders russia attacked america's democracy last year. this makes russia a threat to this country, just like iran and north korea. when the united states faces a real threat, we have the obligation to respond, so far our response to russia has fallen far short. that ends with this legislation. along with pyongyang and iran,
they need to understand, you threaten the united states and its allies, there will be consequences. i wish we could send it to the president's desk today. leaders in both houses have an obligation to clear away any remaining issues and get this bill signed into law as soon as possible. so long as russia is a threat and iran and north korea defile norms, none of us is off the hook. i thank ms. pelosi for her advice and counsel. let's pass this bill and press this bill forward. i yield back. the speaker pro tempore: the gentleman from california. mr. royce: i yield myself such time as i may consume. mr. speaker, in closing, i would like to my colleagues, the ranking member, mr. engel, as well as our counterparts, senator corker and cardin, the majority leader, mr. mccarget
and the minority whip, mr. hoyer. they deserve credit for their effort. let me also say it's critically important that we stand shoulder-to-shoulder with our european allies in countering russian aggression and that is why in the bipartisan house-senate negotiations, we secured important changes to improve transatlantic cooperation. and so i'm confident under the text of the house -- this house bill that will pass today, these concerns have been addressed. let me also say that every time north korea tests a ballistic missile or a nuclear device, it gets closer to having the ability to strike the u.s. mainland with a nuclear weapon. for years, the policies of successive administrations have failed to get north korea to change. why? because diplomatic pressure has been applied only in spurts. it has been lifted prematurely
for north korean promises that have never materialized. so we need leverage and leverage comes from real sustained pressure. and that's why i offered tough new sanctions to crack down on the regime to shut off their access to the hard currency it needs to fund its nuclear program and we have included that in this bill. these sanctions passed in this house in may by a vote of 419-1 and it is time for the other body to pick them up. and by including these north korean sanctions in the legislation, we ensure that our colleagues do so. we cannot afford any more delay. and that's why i worked with the other body to make small changes to the north korean sanctions in this bill to ensure swift passage in both houses. i'm confident this bill including the north korean sanctions bill will soon become law. and let me say that
congressional engagement in foreign affairs is strongest when we all speak with one voice. i urge my colleagues to vote in favor of the bill and join us in sending a clear message to jong un utin, to kim that efforts to threaten the united states and destabilize our allies will be met with a united american response. and i yield back the balance of my time the speaker pro tempore: the gentleman yields back the balance of his time. the question is will the house suspend the rules and pass the bill h.r. 3364. those in favor say aye. those opposed, no. in the opinion of the chair 2/3 -- mr. royce: i request the yeas and nays. the speaker pro tempore: yeas and nays are requested. a sufficient number having arisen, yeas and nays are ordered. further proceedings on this question will be postponed.
the speaker pro tempore: for what purpose does the gentleman from texas seek recognition? >> pursuant to house resolution 468 i call house resolution providing for congressional disapproval of title 8, united states code of the rules submitted by the bureau of consumer protection relating to arbitration agreements and ask for its immediate consideration in the house. the clerk: house joint resolution 111, joint resolution providing for congressional disapproval under chapter 8, title 5, united states code of the rules submitted by bureau of consumer financial protection relating to arbitration geements. the speaker pro tempore: pursuant to house resolution 468, the gentleman from texas, mr. hensarling and the gentlewoman from california, ms. waters, each will control 30 minutes. the chair recognizes the gentleman from texas. mr. hensarling: i ask unanimous consent that all members have five legislative days in which to revise and extend their
remarks and include extraneous materials on the bill under consideration. the speaker pro tempore: without objection. mr. hensarling: i yield myself such time as i may consume. hard-working america cans want something different. they want to change the culture in washington, d.c., that has allowed unaccountable bureaucrats that overreach and overregulate. we begin to drain a bureaucratic swamp. not easy because we have seen the last six months swamp fights back. this is a rule issued by one of the swammiest of washington burr burst -- bureaucracies. this is a rogue agency with a heckered past, chocked full of apuse, racial and gender discrimination and big government nannyism which makes credit more expensive and less available to hard-working
americans. so radical is this agency and so extreme and lacking accountability that a three-judge panel of the d.c. circuit court of appeals declared their structure unconstitutional. this bureaucracy has joined forces in an unholy alliance with one of the democrat parties' groups, family the trial lawyer lobby. and this will deprive consumers of a low cost easy way to resolve legal dispute. but the bureau and the wealthy trial lawyers want is to take away arbitration for consumers and instead force them into class action lawsuits which just so happens to require consumers to hire the very trial lawyers who will benefit most from this rule. americans were promised a consumer federal protection burro, but what they got was a
trial lauren richment bureau. the director of this swampy bureaucracy rushed this regulation onto the books because it is reported that he is on the way out the door to run for political office in ohio. et's be clear, one unaccountable bureau commissioner has dictated the terms of contracts in a way that will increase consumer costs and reduce consumer choice in a free and democratic society, no one unelected individual should possess this much power. and, mr. speaker, making consumers pay more for less is the exact opposite of consumer protection and that's what this regulation means for every american. this regulation will perpetrate a justice gap that takes away a icker less expensive legal option.
even the cfpb's own study says this, found 87% of the class actions they examined resulted in no, no consumer benefit whatsoever. and the mere 13% that actually provided some benefit, mr. speaker, the average payout per consumer, $32. how much did the trial attorneys make, 31 times that amount. we have an average payout of $32 for the consumers, millions, millions for the trial attorneys. so no wonder the powerful trial attorney's lobby is eager to see this rule go into effect. the study concludes that arbitration is less expensive for consumers and up to 12 times faster than litigation. consumers who obtain relief in arbitration recovered in the -- study an average of $3,
$32. compared to we are about to hear from some members on the other side of the aisle that consumers will lose their day in court and big banks will be helped. the cfpb's own study shows that not a single class action it examined, not a single one resulted in trial by judge or a jury. so no consumer got his or her day in court under the burro's preferred class -- bureau's class action. and with this rule, we once again see our colleagues in the other party hurting small community banks and credit unions. . . i have a statement from the innocent community banksers of america -- independent community bankers of america. their statement says they strongly oppose the crf rule.
also i -- cfpb rule. also i have a statement from the neighborhood credit unions. they say the cfpb's rule will limit options for resolving disputes and could increase the number of frivolous lawsuits and that credit union members, quote, could suffer when costs rise and resources are depleted as a result of this rule. indeed, the cfpb itself estimates its final rule will increase costs for american businesses over $1 billion per year. that's money that our community banks and credit unions won't be able to lend to our small businesses and to our families and to american workers. the cfpb's rule is bad for consumers, it's bad for community banks, it's bad for credit unions. it's bad for our economy. washington should be focused on creating more jobs, not more class action lawsuits. so, mr. speaker, it's time to
fight the bureaucratic swamp, it is time to pass the resolution offered by the gentleman from pennsylvania, mr. rothfus. i appreciate his leadership in helping protect consumers instead of enriching trial lawyers. and i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from california. ms. waters: mr. chair, i yield myself such time as i may consume. the speaker pro tempore: the gentlelady is recognized. ms. waters: h.j.res. 111 is an affront to hardworking americans across the country. using the congressional review act, this joint resolution repeals consumer financial protection bureau's final rule to curb forced arbitration clauses in contracts for consumer financial products. today, many banks require consumers wanting to open a bank account, get a credit card or take out a private student loan to enter into forced arbitration agreements that take away their rights to collectively sue the
bank for any harm. instead, consumers must go through bank-friendly arbiters to resolve their grieveances. these contracts are literally buried deep into the fine print. and she rouded in legal he's -- and shrouded in legalese. consumers don't know what they're giving up but the banks do. arbitration proceedings which happen behind closed doors have no judge and no jury. the proceedings and their outcomes heavily favor big businesses and wall street. studies have shown that forced arbitration favors big business and results in less compensation for american consumers who have been abused or defrauded if they receive any at all. simply put, forced arbitration is an instrument that benefits large corporations and wall street banks, and it hurts consumers. for example, everybody remembers
wells fargo. wells fargo continues to use forced arbitration to prevent consumers from working together to sue the bank for opening up million of fraudulent accounts using their personal information. just weeks ago, the consumer bureau used a critical rule to finally clamp down on forced arbitration clauses. the consumer bureau should be applauded for taking this step to help consumers, by fully restoring their legal rights. once again, the consumer bureau has acted to make our financial marketplaces fairer and transparent. as is their practice, the consumer bureau issued this rule after careful deliberation and exhaustive review. as part of this deliberative rocess, they issued a 728-page report on the issue, considered views from all stakeholders, and
consulted carefully with the other federal financial regulators. the consume -- consumer bureau's final rule has widespread support, including from over 310 consumer, civil rights, faith-based and senior groups, 256 law professors, and scholars. and the military coalition. an organization that represents 5.5 million current and former service members and their families. now, this rule was just finalized. but, congressional republicans are already shamefully forging ahead to cut it off at the knees. this resolution wouldn't just nullify the rule, it would also prevent the consumer bureau from ever issuing a rule that is, quote, substantially similar, quote-unquote. that means if republicans pass this resolution into law, for the foreseeable future consumers will be robbed of important legal rights and generally left
at the mercy of industry-friendly arbiters. let's be clear. there is absolutely no valid public policy rationale for repealing this rule. it is a part of a pattern, from congressional republicans, of irrational hostility toward the consumer bureau and its work, and callous disregard for the issues facing america's consumers. just as they have with the wrong choice act, republicans are pushing an anti-consumer agenda that puts profits over people. enough is enough. we must hold true to a fundamental principle of our democracy. that each of us has a right to trial. if we so choose. the rule fully restores this right to american consumers by giving them a choice between arbitration or the free exercise of their seventh amendment right to a trial by jury. through whatever means they choose.
so i urge all of my colleagues to vote no on this senseless and harmful resolution. and i reserve the balance of my time. the speaker pro tempore: the gentleman from texas. mr. hensarling: mr. speaker, i am very pleased to yield three minutes to the gentleman from pennsylvania, mr. rothfus, who is the sponsor of the legislation and vice chairman of our financial institutionses and consumer credit subcommittee. the speaker pro tempore: the gentleman from pennsylvania is recognized. mr. rothfus: i thank the chairman for yielding and his leadership on getting this legislation to the floor. mr. speaker, the cfpb's anti-consumer, anti-arbitration, pro-trial lawyer rule is just the latest example of the harm that can be done by an out-of-control washington-knows-best bureaucracy. this is a theaching moment for the country about how -- teaching moment for the country about how when elites in washington pander to special interests, they end up hurting the very people they claim to be protecting. we all want fairer outcomes for consumers, but the cfpb's unfair, deceptive and abusive rule will deprice millions of americans of a convenient, fast and effective way to resolve their disputes.
consider this. according to the cfpb's own study, only 13% of class actions provide the benefit to consumers and the average pay the gentlewoman with a -- payout was $32. how is that pro-consumer? the same study on the other hand showed that consumers who obtained relief through arbitration recover over $5,300 on average. again, that's $5,300 in arbitration against $32 through a class action. meanwhile, trial lawyers and class actions earn about $1 million on average. consider that. $1 million for the plaintiff's lawyers. $3 coupon, $32 cash for a consumer. in other words, trial lawyers stand to earn 31,000 times more than a consumer in a class action. in arbitration, however, consumers get meaningful relief. and yet the cfpb has finalized a rule that would effectively get rid of arbitration and promote class actions as the preferred dispute process. this harmly -- hardly seems fair. the cfpb's anti-arbitration rule is an invitation to trial lawyers to take all they can get.
banks, credit unions and other businesses that american consumers interact with on a daily basis will be forced to hold greater reserves because of the risk of costly litigation. this will increase costs for consumers and it will lead to sess for more he can -- access for more expensive financial services to millions of americans. it could also harm the safety and soundness of the financial system. according to controller of the currency, one of the main federal banking regulators. the dodd-frank act requires that any move by the cfpb to regulate arbitration agreements needs to be in the public interest and for the protection of consumers. i fail to see how forcing consumers to accept a coupon for their troubles and handing millions of dollars to payouts to the trial lawyers meets either of these goals. only at the cfpb could endangering local banks and credit unions and restricting consumer access to financial services be cast as a win for the american people. but again, this is what you get from the least accountable agency in history. an agency with, according to the d.c. circuit court of appeals,
massive and unchecked power that is headed by a director who possesses more unilateral authority than any single commissioner or board member of any other independent agency in the u.s. government. it has long been understood that expeditious, fair resolution of disputes is in the public interest. and part of the public policy of this country. the cfpb rule we are reviewing today challenges that premise, as did the dodd-frank section that spawned this rule. but it is the people, through their elective representatives, who have the final say in this matter. can i get 30 seconds? mr. hensarling: i yield the gentleman an additional 30 seconds. mr. rothfus: i brought this forward so we can strike down this abusive rule and push back against an out-of-control agency. i ask my colleagues to support this legislation and stand for consumers, fairness and the economy. the american economy. i yield back to the chairman. mr. hensarling: mr. speaker, i ask unanimous consent that the
gentleman from missouri, mr. luetkemeyer, be able to control the remainder of our time. the speaker pro tempore: weck. the gentlelady from california. ms. waters: i now yield 1 1/2 minutes to the gentlelady from new york, a senior member of the financial services committee, and ranking member of the subcommittee on financial markets, mrs. maloney. the speaker pro tempore: the gentlelady is recognize the. mrs. maloney: i thank the ranking member for yielding to me and for her leadership on this committee and in so many other ways. i rise today in strong opposition to this resolution. my presents on the other side of the aisle -- my friends on the other side of the aisle keep talking about what this bill does. let me tell you what it does not do. and i want to be absolutely clear that this rule does not say that arbitration is bad for consumers and it does not say that consumers can't use arbitration.
the only thing that the cfpb rule says is that financial institutions cannot force their customers, they cannot force consumers to waive their right to participate in class action lawsuits. and only use arbitration. this protects an individual customer's rights. this is critically important. because the evidence shows that consumers receive a great deal more relief from class action litigation against institutions than they do in arbitration. so my friends on the other side of the aisle always say that they believe in consumer choice. and customer choice. that customers should be able to choose what is best for them. and not be dictated to by this congress.
but mandatory arbitration clauses restrict choice for consumers. they prohibit consumers from choosing class action lawsuits over arbitration. the speaker pro tempore: the gentlelady's time has expired. mrs. maloney: i ask for 10 seconds. i'm warming up. ms. waters: i grant jeamentjealt 10 more seconds. mrs. maloney: the cfpb's rule would restore this consumer choice, further empowering people, customers, empowering them to make their own decisions for themselves. this should be welcomed by any american. this should be welcomed. no on this resolution. the speaker pro tempore: the gentleman from missouri. mrs. maloney: my time is expired. thank you. mr. luetkemeyer: thank you, mr. speaker. i now recognize myself for two minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. luetkemeyer: thank you very much. mr. speaker, i rise today in support of this resolution, which would block the consumer
financial protection bureau from denying the american people use of arbitration as means to resolve consumer complaints. i went to the cfpb website last night. and first thing i saw read, we are the consumer financial protection bureau, a u.s. government agency that makes sure banks, lenders and other financial companies treat you fairly. if we handed out grades to government agencies based on their ability to meet a mission statement, the cfpb would most decidedly receive an f. that's because the bureau's arbitration rule does absolutely nothing to ensure that consumers are treated fairly. in fact, this rule is proof of what house republicans have said for years. the cfpb does not operate in the best interest of the american consumers. the bureau's own study, which we've cited several times already, and will continue to cite, shows that arbitration helps consumers and that the alternatives are far less successful. mr. speaker, the truth of the matter is that this rule is anti-consumer, it hurts the very
people the crf is -- the cfpb is supposed to protect. and it's yet another example of washington bureaucrats looking out for their friends instead of the american people. today this body will cast a vote to ensure u.s. consumers are treated fairly, that they have the tools necessary to get the best possible settlement in their case. and, mr. speaker, if the cfpb can't adhere to a simple mission statement, and provide actual consumer protections, congress will do it for them. i want to again thank the chairman and the gentleman from pennsylvania, mr. rothfus, for their leadership on this issue with is a -- and with so many more issues that impact our consumers. i ask my colleagues for their support on this resolution and i yield back the balance of my time. . waters quarters the republicans are siding with big business against our consumers. it is my honor to yield one minute to the distinguished leader, strong supporter of consumers and the consumer bureau, leader nancy pelosi.
the speaker pro tempore: the democratic leader is recognized for one minute. ms. pelosi: thank you for the time and i commend my distinguished ranking member on the financial services committee for her brilliant leadership and bipartisanship and for her always trying to find a way to help america's consumers and protect america's taxpayers. thank you. mr. speaker, i'm very sad today because on what is happening on both sides of the capitol. the cruelty, carelessness and contempt that republicans are showing towards working families boggles the mind. now they are careening to shattering health care with no regard or appreciation for the consequence. every chance they get, they stack the deck against america's working families. and here on this side of the
capitol, republicans are stacking the deck even further against america's working families by seeking to deny those families their fundamental right to attain justice in court. eight years ago, unchecked recklessness on wall street ignited a financial meltdown that devastated families across the country. democrats proudly passed dodd-frank, the strongest set of consumer financial protections in history. today, house republicans are once again trying to destroy those protections for america's consumer. last month, republicans passed what we called their wrong choice act, the dodd-frank repeal, a give-away to the financial industry at the expense of hard-working families. republicans are waging a war on the consumer bureau, a bureau that has returned nearly $12
billion to 29 million wronged americans, many of them seniors, veterans and members of the armed forces. forcing consumers into arbitration indeed, forced arbitration gives financial service providers a free pass to get away with abuse and denies veterans, service members and seniors justice against the predatory marketplace and it sadly reflects the republican party that works relentlessly to empower wall street and rig the system against consumers. consumers' class action. 800 years ago, more than 800 years ago, the magna carter laid out the basic right to justice the justice of a fair
society. under the king, it said this much was owed the people, quote, no one will be denied or delayed rights or justice. every day americans take a similar solemn pledge, liberty and justice for all. republicans' attacks insult those pledges and deny americans their justice. all the american people deserve a better deal than what they are getting from the republicans in congress. democrats are going to fight back and we will fight to protect american consumers and will fight to vr leverage. who has the leverage? if i'm a financial institution and i know you have no leverage that you cannot act in a class-action way, you can just imagine what i have in store for you. but if i think you have leverage, that i think you can act in a different way and not forced into arbitration, i might
have more respect for our financial relationship with each other. we will put the leverage back in the hands of the american people. we will fight this resolution. i call upon my republican colleagues to vote no because this bill is unfair and unjust bill. and you know what is unfair, too? america's working families, america's consumers and american taxpayer. i urge a no vote and i yield back. the speaker pro tempore: the gentleman from missouri. mr. luetkemeyer: i yield to mr. huizenga. the speaker pro tempore: the gentleman from michigan is recognized. mr. huizenga: let's talk about a stacked deck, attorneys putting the ver conscience and cfpb, the bureau of consumer financial protection has a study itself that shows that consumers
who actually use arbitration reach more favorable outcomes than those who are roped into lawsuits with cash-starved trial lawyers. it is astounding 13% of these lawsuits provide any benefit to actual consumers, but the bureau is still pushing this ill-advised rule. arbitration decisions come much more quickly. the bureau's own study says decisions come 12 times faster than lawsuits. a faster, more favorable outcome for consumers versus helping trial lawyers line their pockets. this should not be hard. this should not be hard. in fact, mr. speaker, according to the d.c. circuit court, unelected cordray has more authority than any commissioner or board member in any other independent agency in the entire u.s. government. congress must use its authority to hold this agency accountable
and actually provide the checks and balances that our founders would have intended. that is a stacked deck that we have right now, folks. the burro's flawed arbitration rule does nothing to protect the consumers. it is nothing more than a wind ll for trial lawyers and well-connected elites. it will create more class action lawsuits for cash. this anti-consumer rule will have the effect of making consumers wait longer for worst decisions as they seek resolutions for dispute. in no way, shape or form do what the bureau was created to do, protect consumers. this is an important step in allowing congress to reign in this rogue agency. and i yield back. the speaker pro tempore: the gentlelady from california. ms. waters: i now yield one
minute to the gentlelady from new york, a senior member of the financial services committee and ranking member of the small business committee, ms. velazquez. the speaker pro tempore: the gentlelady is recognized. ms. velazquez: i thank the ranking member for yielding. mr. speaker, the right to seek redress in the courts is one of the most fundamental rights we have as americans. unfortunately, companies routinely try to undermine this right by including mandatory arbitration clauses in contracts we use every day, including for credit cards, student loans, auto loans and cell phones. this says that a consumer must be told that if they are having at spute with a third party a location chosen by the company. company use this clause to block
class action lawsuits brought by consumers. now, once again, thanks to the cfpb, contracts that have these clauses would no longer prohibit consumers from banning together or joining a class action. this rule holds companies accountable and protects consumers. that is why more than 280 consumer, civil rights, labor, community oppose this rule and that is why unscrupulous firms are lobbying aggressively to block this rule. stand up for consumers. vote no on this rule. i yield back. the speaker pro tempore: the gentleman from missouri. mr. luetkemeyer: i yield two minutes to the the gentleman from kentucky. bower bower the anti-arbitration rule recently finalized by the consumer financial protection
bureau is not consumer protection. it is a give-away to special interest trial lawyers that will expose financial firms to liability, limit consumer access to affordable financial services and products and undermine consumers' ability to resolve dispute. the bureau's own study found that while trial lawyers owner millions of dollars in fees in 90% of class action lawsuits, consumers were awarded absolutely nothing, nothing. and of the remaining 10%, the average payout to consumers was a mere $32. that same study found that the average arbitration payout was times more 0 or 150 than the recovery. the bureau decision to ban alternative dispute resolution will result in increased
litigation costs for financial services firms, undermining their safety and soundness, forcing consumers to pay higher prices and making it more difficult to obtain credit cards and other financial services and products. that is no pro-consumer. for these reasons i'm a proud co-sponsor of this bill that would disapprove this misguided resolution. congress should be making the laws of the land not unaccountable people at the cfpb. in addition to invalidating this bad anti-consumer, pro-trial lawyer, anti-arbitration rule, congress must act swiftly to reign in the bureau and subject reclaiming congress' constitution power of the purse over this out of control agency. i urge my colleagues to vote yes to block this ill-advised anti-consumer rule and reclaim
its authority under article one of the constitution. i yield back. the speaker pro tempore: the gentlelady from california. ms. waters: i yold two minutes to the gentleman from minnesota, mr. ellison. the speaker pro tempore: the gentleman from minnesota is recognized. mr. ellison: mr. speaker, listening to my friends on the other side of the aisle, they are going to tell you having access to a lawyer and court is a bad thing. but it is the foundation of american justice, the foundation of american justice is that somebody rips you off, you can sue them in court. what these arbitration clauses, they are the fine print that you find in these contracts that say if you have a dispute with this particular company, you can only go to arbitration and these arbitrateors are almost always picked by the company themselves. the fact is, this is not justice. it is a railroad court.
it is not real court. and consumers are less well off. that's why over 100,000 individual consumers wrote in to support the rule during the public comment period. if my friends on the other side of the aisle are right, how come they don't have 100,000 people saying that their position is correct. the people have spoken. they have engaged in the period that said we want to be able to go to court to hold these people accountable. wells fargo ripped off literally hundreds of thousands of americans, two million transactions opening up accounts people never asked for. if you sue them, you might just be limited to an arbitration clause which limits your award where they pick the judge. why not join with other americans and sue in court the good old-fashioned way, get some discovery and get some money back, get some justice. this is what it's all about.
we believe that the american people deserve to take them to court if they take your money and rip you off. and that is what we are standing up for today. this is nothing but a u.s. chamber big business. we stand on the side of american consumers and want to take them to court. and i yield back. the speaker pro tempore: the gentleman from missouri is recognized. mr. luetkemeyer: i yield to the the gentleman from colorado, mr. tipton. the speaker pro tempore: the gentleman from colorado is recognized for two minutes. mr. tipton: this resolution will repeal the arbitration agreement rule, a rule that consumers are going to be able to be protected by according to the cfpb. that's their stated mission, to protect the consumers. let's look at the data that's been provided by the cfpb. just 13% of the class action
suits actually provided a benefit to the consumers. and what was that whopping benefit? $32. $32 they are willing to celebrate over as compensation of people that have been harmed. let's look at the other side. . let's look at the other side of it, what are the trial lawyers receiving? $1 million. our friends may choose to stand with the trial lawyers but we're going to stand with the people. one way to do that is through arbitration. when we look at the cfbp -- cfpb's statistic the average arbitration payout is not $32 but $5,400 that's going to be paid. this latest rule, mr. speaker, joins