Spencer Bachus

Mr. BACHUS

Mr. BACHUS. That was his. But I guess what I'm saying, I think the philosophy behind this bill is we, the taxpayers, are going to come into people who caused this problem and limit their salaries; at least that's what he has said on two or three occasions. But I guess my question to you, what about the institutions that have not caused any of the problem and were urged to take the money by the Secretary of the Treasury, and even those last week, you know, again, the President, last week, urged these companies to keep the money and not to return it. And I guess----

Mr. BACHUS. This only involves capital infusions.

Mr. BACHUS. So it's all TARP.

Mr. BACHUS. Mr. Chairman, every day brings news of a new government program, a new government intervention, a new government mandate, or a new government tax. Most of them share the same thing: they are large. This bill claims to be about executive compensation. But what it really is is just another step expanding the size, the involvement--and more importantly--the control of the Federal Government into not only the private sector but into all aspects of our lives. That's our concern. Yes, it's about this bill. But, yes, Mr. Chairman, it is about much more than this bill. You're right about that. Sometimes the expansion is subtle, as in the case of this bill. Sometimes it's more direct, more obvious, like the budget that we will vote on as soon as tomorrow. We are witnessing in light speed in just the past few months--and then the budget will pass in the next few years as it goes into effect--a relentless and massive expansion of the Federal Government. And I, for one, Mr. Chairman, am concerned. Outraged? I would say ``fear'' and ``concern'' are better. But I do believe that as the years go by and we look back on what we've done and what we will do in this next year, I believe the American people will be outraged. As a Member, I took an oath to uphold the principles of the Constitution which intentionally and specifically limited the power of the central government. Would our forefathers have ever considered giving the government a say on how much a private citizen earned, the so-called say-on-pay? In reading both the Constitution and the Federalist Papers, it clearly appears they would not. I think most Americans believe our Founding Fathers had it right. I applaud the chairman's honesty. For years, he has advocated a government role in limiting the amount of salaries. Later tonight, we will consider a budget. As we have said repeatedly--and we are going to say again today--it spends too much, it taxes too much, and it borrows too much. It expands the government control on a scale that we've not seen before, not even in the New Deal. It spends more money in this administration than was spent from the time of George Washington to George Bush. The majority criticized Bush for the deficits, and now they will double and triple them in the next 10 years under their proposal. The scope and reach of this legislation is breathtaking. If you had told me a month ago--and I will recognize the chairman. I will yield to him in a minute when I get to the particulars on this bill. If you had told me a month ago that Congress wanted to increase the tax burden on charitable contributions, I would have said it's an April Fool's joke. But the fact is that if donations to charities go down, the government will say it has to step in. But there will be a big difference. The government will be choosing what it wants to support and how. It can support groups like ACORN instead of my local church or local charity. Instead of allowing people to support their own causes and make their own choices about their charitable contributions, the government will expand into what will obviously and clearly be a restriction on private charities as their funds are restricted. Unfortunately, it wasn't an April Fool's Day joke, and that's what is being proposed this very week, restricting private contribution, and there's a pattern developing here. Just this week, we saw a government mandate to change the management of General Motors. Regardless of what you think about the performance of the CEO--and I don't think it was good. I, for one, do not defend his stewardship. But do we want the Federal Government making such far- ranging decisions on hiring and firing and setting salaries and job descriptions for everyone from the manager to the receptionist? This is all about government control, government command and control, running an economy, not according to free enterprise principles, which many of my Democratic colleagues admittedly and honestly don't agree with. It is about making business decisions based not on competitiveness but based on social goals. Does anyone really believe that a government that is about to add $10 trillion to our debt, to our children and our grandchildren, has any expertise at all in telling the private sector how to turn a profit? During the campaign, President Obama said, ``So if somebody wants to build a coal-powered plant, they can. It's just that it will bankrupt them because they're going to be charged such a huge sum for all the greenhouse gas that's being emitted.'' Later today, we will take a step down that road with cap-and-trade. We're going to raise every American's utility bill if that utility is fired by coal. We hear the government will require the automobile makers to produce green cars. No one argues with the idea of cleaner-burning cars, but maybe someone should ask consumers whether they can afford to spend several thousand dollars more to buy them or whether such a policy will end the need for taxpayer support. I think not. I think it will make General Motors less profitable, and the taxpayer investment will certainly be at risk. This is the problem with government getting involved in the management of business. Decisions will be based on the government's political agenda and not sound economics. There will be no limits to how far this can go and will go. Will the government start telling companies we'd like to review your advertising to see if you're sending the right message or spending too much? Will the government tell drug companies, who market similar products, we think there's too much competition, maybe you should combine products or merge to make prices cheaper? Now, you don't have to do that, but if you do business with the government, you do. Some believe less competition leads to lower prices. I don't think this is the case at all. Now, the legislation before us today, it gives the Treasury Secretary and a board, all unelected, headed by a Harvard professor, wide discretion to formulate performance-based compensation standards for hundreds of banks across America. Who does the legislation apply to? Let me read the legislation: Compensation payment to any executive or employee under any existing compensation arrangement. Any executive or employee? Line 23 on page 2, Mr. Chairman. Every employee. There is nothing in this legislation to prevent the Secretary from deciding that one measure of performance is where the loan officers are approving loans to favored constituencies that the administration may believe are entitled to a loan or to credit. That was precisely the type of government allocation of capital and decisions that helped lead us into the housing bubble and the collapse of Freddie and Fannie, at a cost of hundreds of billions of taxpayer money. In 1999, I introduced into the Record on this House floor the article from the New York Times, not a friend of the minority, which said, first, the government directed that you would make home loans to people with poor credit, and then it went further and said not only with poor credit but without a down payment. Part of the reason we're here today is because the government did that. There's no question that we need more performance-based pay decisions, but the government deciding and judging the performance of employees and private companies? The Secretary of the Treasury deciding whether an employee is performing? I think not. The answer is not a dramatic expansion of government control. That hasn't worked in any country. It didn't work in Russia. It didn't work in China. It's not working in North Korea, and it's not working in Cuba. The American economy has always attracted entrepreneurs and business investment because it has been free of the political risk present in developing and socialist countries. We have attracted investment and have maintained a strong currency because of the belief in foreign investors, whom we depend on and must have to support not only this economy but the spending that is proposed. In fact, more than half the borrowing going forward for this new budget will have to be borrowed from citizens in just three foreign countries. Without those assumptions, the budget doesn't work. Without the assumptions, there's more deficits. Without those assumptions, without that foreign investment, we default on our obligation. As I say, we have attracted investment and a belief that we in America are productive, specifically because of the belief that our government does not take arbitrary and punitive actions to negatively affect business operations. It doesn't break contracts, it doesn't confiscate property, and it doesn't set salaries. Let me close by saying I honestly fear, Mr. Chairman, that this bill and the overall thrust of what we are hearing from this administration is tilting that delicate balance. The implications for our competitiveness as a country, our economy, and the prosperity of our citizens and their freedoms are disturbing. In the end, America has succeeded by putting its faith not in government but in the people. That's what the Constitution is all about, and I, for one, will always trust the people and always distrust the government. I make no apology for that. The solution is not this bill. What we need is a strategy to get the government out of the bailout business, out of the taxpayer bailout business, with no further intrusions into what should have been and needs to be and will need to be in the future, private decisions. Mr. Chairman, you and I can come to an agreement, and that agreement can be no further government bailout. That is the only way to avoid more government interference, more government control, and ultimately, the loss of not only our freedom but our prosperity. I appreciate the honest differences here, but I accept fully your statement that we on this side are outraged. We're fearful, we're concerned, and we become more so every day.

Mr. BACHUS. I yield myself 1 minute. We don't know how long all this is going to last. But what I will say is you are giving--for every employee of these companies, you're giving the Secretary of the Treasury the right to control their pension benefits, their retirement benefits, their health benefits, whether intended or not. I don't think that you can assure me that the power will not be abused in the future because, as the gentlelady said, her amendment includes any compensation for the rest of their life. It also includes any compensation before they arrived at the company. That, to me, is a very broad brush. I would definitely oppose this amendment.

Mr. BACHUS. Mr. Chairman, I just want to ask the sponsor a question. You have included in the original, in the legislation before us, it includes all financial institutions who accepted TARP money; is that correct? I ask the chairman of the full committee.

Mr. BACHUS

Mr. BACHUS. Mr. Speaker, I rise in strong opposition to this resolution. Like the American people, I'm extremely disappointed by the recent news that AIG paid millions of dollars in money bonuses after it received a massive government bailout. We all agree that the decisions that led to the collapse of AIG and the payment of large bonuses to some of the same executives who caused the collapse are indefensible. However, the legislation we vote on today arrives at conclusions based not on facts, but rather, is focused on delivering political cover to my Democratic friends and colleagues. The bill reads, ``It is the sense of the Congress that the President is appropriately exercising all of the authorities granted by Congress.'' How can we come here today after all we and the American people have learned this week and say that everything the President has done is appropriate? The American people recognize the absurdity of such a statement, and so should we. In reality, there is not a single Member of Congress who can say with certainty that the President has done everything in his power in connection with these bonuses. For instance, just today, Bloomberg quotes the Senate Banking Committee Chairman Chris Dodd as saying that the Obama administration asked him to insert a provision in last month's $787 billion economic stimulus legislation that had the effect of authorizing AIG's bonuses. If that is correct, do you really want to vote to say that what the President did in enabling these bonuses was appropriate? I think not. We are here today because the majority is trying to paper over its mistake. And now, they are asking us to compound that mistake by endorsing everything the President had done in connection with these million-dollar bonuses. It was a mistake not to read the stimulus package before you voted on it. You didn't read it. You didn't understand it. It had this provision in it. How could we, in good conscience, support legislation lauding the President's actions in allowing these bonus payments if it was that same administration that worked to enact legislation that now prevents us from recouping this $160 million dollars? Such a vote would be a vote of confidence for an administration whose actions in handling the AIG matter have not earned the confidence of the American people. Make no mistake, today's vote is not an effort to ensure oversight nor an effort to hold people responsible for their actions. Today's vote, instead, I conclude by saying, is a thinly veiled political ploy by the Democratic majority to deflect responsibility. That is wrong. The American people know it. Working families deserve better. They deserve an exit strategy from this continued cycle of government bailouts. And they deserve to be repaid 100 percent. They don't deserve a cover-up.

Mr. BACHUS. We're talking about this February. This resolution deals with your resolution that the President in February acted appropriately.

Mr. BACHUS. Mr. Speaker, then I ask unanimous consent to give the chairman 1 minute to answer the gentleman from Ohio's question.

Mr. BACHUS. The economic stimulus package----

Mr. BACHUS. Will the gentleman yield?

Mr. BACHUS. The language was inserted in that bill last night.

Mr. BACHUS. Mr. Speaker, I ask unanimous consent to give the chairman 15 seconds to answer the gentleman's question.

Mr. BACHUS. Will the gentleman yield?

Mr. BACHUS

Mr. BACHUS. Mr. Chairman, I yield 2 minutes to the gentlelady from Illinois (Mrs. Biggert).

Mr. BACHUS. Mr. Chairman, I yield 1\1/2\ minutes to the gentleman from Georgia (Mr. Kingston).

Mr. BACHUS. Mr. Chairman, I yield 2 minutes to the gentleman from Texas (Mr. Hensarling).

Mr. BACHUS. Mr. Chairman, I yield 2 minutes to the gentleman from South Carolina (Mr. Barrett).

Mr. BACHUS. Mr. Chairman, I yield 1\1/2\ minutes to the gentleman from Colorado (Mr. Coffman).

Mr. BACHUS. I yield an additional minute to the gentleman from California.

Mr. BACHUS. At this time, Mr. Chairman, I yield 2 minutes to the gentleman from California (Mr. Royce).

Mr. BACHUS. Mr. Chairman, I yield myself such time as I may consume. Mr. Chairman, I would like to introduce into the Record an article from the New York Times, dated September 30, 1999, and here's what it says: ``Fannie Mae, the Nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton administration to expand mortgage loans among low and moderate income people . . . '' And then they quote Franklin Raines: ``Fannie Mae has expanded home ownership for millions of families in the 1990s by reducing down payment requirements. Yet there remains too many borrowers whose credit is just below what our underwriting has required and who have been relegated to paying significantly higher mortgage rates . . .'' Well, I think we know the rest was history. They lowered their standards, they moved into this new risky form of lending, and then last July the American people were submitted the bill, and that bill was a half trillion dollars, and every day we're adding billions of dollars to that tab. And there were people at that time who warned that it was risky and who warned that ultimately the taxpayers may have to step in and bail out Freddie and Fannie. Now today we are being asked to adopt legislation, the HOPE for Homeowners Program, which would require FHA to insure loans with a greater risk of default and require a higher per loan taxpayer subsidy. In fact, the Congressional Budget Office says that this program is going to help 25,000 borrowers, but it's going to cost up to $579 billion. Now, coupled with the new projection that the HOPE for Homeowners is going to only help 25,000 borrowers, that's $23,000 per borrower that you're going to ask the American people to pay or expose them to that risk. I'm going to give you the same warning that was given in 1999. It's the taxpayer that's going to have to take up the cost of this subsidy and this risk. And for that reason, I am not willing to burden the taxpayer with another dollar. These are terrible economic times. All taxpayers are under risk. Many taxpayers are facing loss of their job. At a time like this, an uncertain time like this, to further expose the taxpayers of this country, the American families we represent, to another half trillion dollars' worth of exposure is not something that I'm willing to do. I am willing, and I have said many times I was willing, to endorse the Kanjorski-Castle provision, which would allow servicers with lenders and borrowers to work out terms, and I applaud that provision in the bill. Strip out this $23,000 per-loan program and we will all go down and vote for Castle-Kanjorski. And let me say this: we have had one too many bailouts. We don't need another one. It's time that we started watching out for the taxpayer and help borrowers without submitting the bill to hardworking Americans. [From the New York Times, Sept. 30, 1999] Fannie Mae Eases Credit To Aid Mortgage Lending (By Steven A. Holmes) In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will begin as a pilot program involving 24 banks in 15 markets--including the New York metropolitan region--will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates-- anywhere from three to four percentage points higher than conventional loans. ``Fannie Mae has expanded home ownership for millions of families in the 1990s by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ``Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-call subprime market.'' Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 percent of loans in the conventional loan market. In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980s. ``From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ``If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.'' Mr. Chair, there are elements in this legislation that I support, such as permanently increasing deposit insurance coverage limits to $250,000 that will strengthen our banking system and help avoid destabilizing bank runs. The Kanjorski-Castle language, providing a safe harbor for mortgage servicers, is a timely and targeted solution that encourages loan modifications that benefit both homeowners and investors. It is a commonsense approach to help keep American families in their homes. And while I do support certain provisions in this bill--and did so in Committee--I oppose the legislation as a whole, and urge my colleagues to do the same. Enacted by Congress last July, Hope for Homeowners has been a failure by virtually every metric. And rather than cut taxpayer losses, this legislation aims to fix a fundamentally unfixable program, while abandoning key taxpayer safeguards. Initially, proponents claimed this program would provide relief to 400,000 borrowers. They were wildly off mark. In fact, the program has received a mere 400 applications and closed on just 43 new loans. If today's legislation was enacted, the Hope for Homeowners program would allow FHA to insure loans with greater risk of default and require a higher per loan taxpayer subsidy. The non-partisan Congressional Budget Office (CBO) projects that even with these changes, the program will help a mere 25,000 borrowers, at best. Far from the 400,000 promised, and far from a success. According to CBO research, taxpayers may be responsible for up to $579 million as a result of potential defaults. This nearly billion dollar figure, coupled with the new projection that Hope for Homeowners will only assist at most 25,000 borrowers, could potentially cost the taxpayer an astounding $23,000 per loan. Throughout the campaign, President Obama almost daily expressed his goal of ending wasteful, underperforming and duplicative government programs. How many times do we have to attempt to change a program that has helped 43 borrowers nationwide? Under President Obama's criteria, HOPE for Homeowners would certainly qualify as a program to be cut. And worse, bankruptcy cram-down provisions included in this bill will further reward poor decisions made by a small amount of individuals and lenders, while adding uncertainty to the market and increasing mortgage costs for the vast majority of Americans. Congress should be asking: who is this legislation intended to help, and is it fair? Will this bill reward irresponsible behavior and punish those who have played by the rules and lived within their means? And how will this legislation stimulate the economy? Times are tough for American families--we all know that. But merely throwing good taxpayer money after bad is not the solution to our economic problems. We must consider the long-term consequences of our actions and how working American families and taxpayers will be affected. This legislation is not the answer. I urge my colleagues to vote ``no.''

Mr. BACHUS

Mr. BACHUS. Mr. Speaker, on February 25, 2009. I missed rollcall votes 86 and 87 while attending a meeting at the White House with President Obama concerning the state of our Nation's economy and financial system. Had I been present, I would have voted ``no'' on rollcall 86 and ``no'' on rollcall 87.

Mr. BACHUS

Mr. BACHUS. Madam Speaker, pursuant to the Republican Leadership standards on earmarks, I am submitting the following information regarding funding that I requested as part of the FY 2009 Omnibus. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Justice, Office of Justice Programs, Community Oriented Policing Services (COPS) Technology Grants Legal Name of Requesting Entity: Jefferson County Sheriff's Department Address of Requesting Entity: 2200 8th Ave North, Birmingham, AL 35203 Description of Request: Provide $200,000 to continue the Records Management Systems upgrade for the Jefferson County Sheriff's Department. The upgrade will update equipment in patrol cars so that they have the ability to remotely access criminal and vice databases, quickly check criminal records and outstanding warrants and submit reports from remote locations. The project's total budget is $500,000. Specifically within the budget, $250,000 will go toward the final completion of Records Managements System (RMS) and JMS system which includes the purchase of remaining software licenses as needed and training on the new system, $100,000 toward criminal and vice case management software modules, and $150,000 toward remaining Mobile Data Terminal (MDT) units for patrol cars. This request is consistent with the intended and authorized purpose of the Department of Justice, Office of Justice Programs, Community Oriented Policing Services (COPS) Technology Grants account. The Jefferson County Sheriff's Department will meet or exceed all statutory requirements for match funding where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Justice, Office of Justice Programs, Community Oriented Policing Services (COPS) Law Enforcement Technology Upgrades Legal Name of Requesting Entity: City of Leeds Address of Requesting Entity: 3873 First Ave, Leeds, AL 35094 Description of Request: Provide $100,000 to update the communication technology within the police department in Leeds, Alabama. The funding will go toward the acquisition of the Computer-Aided Dispatch (CAD) and electronic Records Management Systems (RMS) software; installation, management and training necessary to start the program; and 1-year support for CAD, Application Management System (AMS), and Dispatch Map Interface as well as RMS fees and licenses. The project's total budget is $102,516. Specifically within the budget, $49,800 for CAD software, $21,232 for RMS software, $11,226 for CAD installation, training and management, $7,108 for RMS installation, training and management, $9,450 for CAD 1-year support, and $3,700 for RMS 1-year support. This request is consistent with the intended and authorized purpose of the Department of Justice, Office of Justice Programs, Community Oriented Policing Services Law Enforcement Technology Upgrades account. The City of Leeds will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Justice, Office of Justice Programs, Byrne Discretionary Funds Legal Name of Requesting Entity: Jefferson County Commission Address of Requesting Entity: 716 Richard Arrington Jr Blvd North, Suite 220, Birmingham AL 35203 Description of Request: Provide $300,000 for communication equipment for the Combined E-911 Communications Center to be constructed in Jefferson County. The Combined E-911 Communications Center will be a shared facility housing both 9-1-1/dispatch and emergency management operations and will provide both functions with state of the art communications equipment and infrastructures, as well as improve the opportunities for inter-jurisdictional cooperation and coordination. The Jefferson County Combined E-911 Communications Center will serve over 16 municipalities throughout Jefferson County with others joining once the center is operational. The Center will handle over 2.5 million emergency and non-emergency calls annually by a combined staff of 250 emergency communications and emergency management personnel located in the same facility. The provided funding will go toward the purchase of communication equipment. The project's total budget is $23.45 million. Specifically within the budget, $750,000 for land acquisition provided by the county, $2.45 million for design and engineering costs, $12.25 million for construction of the center, and $8.0 million for communications equipment and training. This request is consistent with the intended and authorized purpose of the Department of Justice, Office of Justice Programs, Byrne Discretionary Funds account. The Jefferson County Commission will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Justice, Office of Justice Programs, Byrne Discretionary Grants Legal Name of Requesting Entity: Jefferson State Community College Address of Requesting Entity: 4600 Valleydale Road, Birmingham, AL 35242 Description of Request: Provide $100,000 for campus safety improvements to all five campuses within the Jefferson State Community College system. The funding will go toward a video surveillance network coupled with a central monitoring station that is staffed 24 hours a day, seven days a week. The project's total budget is $500,000. Specifically within the budget, $250,000 will go toward equipment and the other $250,000 is for personnel and consulting for the monitoring and surveillance system. This request is consistent with the intended and authorized purpose of the Department of Justice, Office of Justice Programs, Byrne Discretionary Funds account. Jefferson State Community College will meet or exceed all statutory requirements for match funding where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Environmental Protection Agency (EPA), State and Tribal Grant Program (STAG) Water and Wastewater Infrastructure Project Legal Name of Requesting Entity: St. Clair County Commission Address of Requesting Entity: 165 5th Ave, Suite 100, Asheville, AL 35953 Description of Request: Provide $224,000 to extend water service to an area of St. Clair County known as Baker Mountain Road. The project's total budget is $406,200. Specifically within the budget, $348,000 will go toward equipment and construction, $28,600 for engineering, and $29,600 would go toward observation, permits, surveying, and other fees. This request is consistent with the intended and authorized purpose of the Environmental Protection Agency, STAG Water and Wastewater Infrastructure Project account. The St. Clair County Commission will meet or exceed the 45% non-federal requirements for matching funds. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Army Corps of Engineers, Construction General Account Legal Name of Requesting Entity: Alabama State Port Authority Address of Requesting Entity: 250 North Water Street, Suite 300, Mobile, AL 36602 Description of Request: Provide $4.785 million to construct the Mobile Harbor Turning Basin project. The total project cost estimate stands at $21,400,000. Approximately, $10,000 [or .0004%] is for land; $25,000 [or .0011%] for aids to navigation; $25,000 [or .0011%] for removal of existing concrete debris; $850,000 [or .0397%] for mobilization, preparation and demobilization of a 26 CY Bucket Dredge; $900,000 [or .0420%] for mobilization, preparation and demobilization of a 30 inch Pipeline Dredge; $14,437,000 [or .67%] for the removal of and placement in designated dredge disposal areas approx. 2,699,232 cubic yards of dredged material; $1,140,000 [or .0532%] of planning, engineering and design work; $520,000 [or .0242%] for construction management; $2,690,000 [or .1257%] in project construction contingency; and $820,000 [or .0383%] in project escalation. The Army Corps of Engineers The U.S. Army Corps of Engineers conducted an Environmental Assessment in accordance with Engineer Regulation (ER) 200-2-2, Procedures for Implementing the National Environmental Policy Act (NEPA) and the Council on Environmental Quality (CEQ) Regulations for Implementing Procedural Provisions of the National Environmental Policy Act (40 Code of Federal Regulations (CFR) Pts. 1500-1508) resulting in a FINDING OF NO SIGNIFICANT IMPACT (FONSI). Construction of the authorized turning basin has been evaluated by the U.S. Army Corps of Engineers through the Corps General Reevaluation Report (GRR) to alleviate harbor delays and improve safety conditions, and reflects a benefit-to-cost ratio of 3.46 to 1. This project is permitted. This request is consistent with the intended and authorized purpose of U.S. Army Corps of Engineers General Construction account and is intended and authorized by Congress in the Water Resources Development Act of 1986 (PL 99-662 Ninety-ninth Congress, Second Session). This is the last year funding will be needed to complete the construction of the Mobile Harbor Turning Basin. The Alabama State Port Authority is the federally designated local sponsor for the Port of Mobile Harbor and will provide the 25% cost share for the Mobile Harbor Turning Basin project. The Alabama State Port Authority's 25% cost share funding is secured. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Fish and Wildlife Service, Construction Legal Name of Requesting Entity: US Fish and Wildlife Service Address of Requesting Entity: PO Box 5087, Fort McClellan, AL 36205. Description of Request: Provide $300,000 to fund construction of a new visitors' center in the Cahaba River National Wildlife Refuge. The funding will go toward site selection, soil testing, engineering, architectural plans, and environmental site assessment. This project's budget is $1.3 million and will be used to construct an L-shaped building with 7700 square feet including about 8 office spaces approximately 12'x13', a 14 person conference room, a 1000 sq foot auditorium, an exhibit hall, and various utility rooms. This request is consistent with the intended and authorized purpose of the Fish and Wildlife Service, Construction. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Small Business Administration Legal Name of Requesting Entity: The University of Alabama Address of Requesting Entity: 201 Rose Administration Building, Box 870117, Tuscaloosa, AL 35487-0117 Description of Request: Provide $100,000 to help establish entrepreneurial research centers in nine additional rural Alabama counties and to augment the resources of existing centers through the Alabama Entrepreneurial Research Network (AERN). The total project budget is $675,000. The AERN provides an entrepreneurial toolkit that includes computers and peripheral equipment, business software, and other business research resources. Chambers of commerce, industrial development agencies, or other nonprofit organizations, whose mission includes business development in very rural, low income portions of Alabama, house the centers. These resources allow persons and local agencies to develop and expand businesses. This project will expand the network to additional counties and will upgrade and enhance the resources available to the existing partners. The AERN vision is to create a decentralized technology and resources network and bring cutting edge entrepreneurial computing tools and training directly to underserved, low income, rural communities in Alabama. Within the first year of the project, $120,000 is for staff salaries, $30,000 is for benefits, and $200,000 is for supplies and services. In the second and third years of the project, $120,000 is for staff salaries, $30,000 is for benefits, and $175,000 is for supplies and services. This request is consistent with the intended and authorized purpose of the Small Business Administration. The University of Alabama will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Health & Human Services, Health Resources and Services Administration, Health Facilities and Services Account Legal Name of Requesting Entity: Town of Harpersville Address of Requesting Entity: P.O. Box 370, Harpersville, AL 35078 Description of Request: Provide $190,000 for the construction of a community and senior center in Harpersville, AL. This project's total budget is $200,000. Specifically within the budget, $50,000 will go toward Engineering and Design, $25,000 toward the Environmental Assessment, $30,000 toward Site Preparation, $75,000 toward Construction, and $20,000 toward Geotechnical Investigations. This request is consistent with the intended and authorized purpose of the Department of Health & Human Services, Health Resources and Services Administration, Health Facilities and Services Account. The Town of Harpersville will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Education, Elementary & Secondary Education Account Legal Name of Requesting Entity: Mitchell's Place, Inc. Address of Requesting Entity: 4778 Overton Road, Birmingham, AL 35210 Description of Request: Provide $250,000 to support expansion of the Mitchell's Place program. Mitchell's Place is a comprehensive center for children with autism. The Early Learning Program at Mitchell's Place is for children between the ages of two to six. The staff at Mitchell's Place consists of four Masters Level lead teachers, one Educational Director and nine special education graduate assistants. The student teacher ratio is 3 to 1 which gives each child the opportunity to learn and grow so they will be ready to start kindergarten. Each child also receives Speech Therapy and Occupational Therapy as part of the program. This funding will enable Mitchell's Place to expand the program and bring in more of the 35 children we currently have waiting to enter our program. This request is consistent with the intended and authorized purpose of the Department of Education, Elementary & Secondary Education Account. Mitchell's Place will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Housing and Urban Development, Economic Development Initiatives Account Legal Name of Requesting Entity: Alabama Historic Ironworks Commission Address of Requesting Entity: 12632 Confederate Parkway, McCalla, AL 35111 Description of Request: Provide $142,500 to construct a welcome center at the Brierfield Ironworks State Park. Currently the park has no visitors/welcome center where information can be easily disseminated to visitors. At present that function is being done in the country store, a site that is not really suited to welcoming area visitors in a historical and educational setting. This proposed educational visitors/ welcome center will house a reception area, a display area telling the story of the ironworks and its relationship with the community during the mid and late 19th century, restroom facilities and a park office. The center will be located near the primary entrance to the park so that all visitors will be able to readily take advantage of the area upon their arrival at the park. The budget for the project is $295,000. Specifically within the budget, $20,000 will go toward site preparation, $10,000 toward the design and plans, and $265,000 toward building construction. This request is consistent with the intended and authorized purpose of the Housing and Urban Development, Economic Development Initiatives Account. The Alabama Historic Ironworks Commission will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Transportation, Buses and Bus Facilities Account Legal Name of Requesting Entity: Birmingham-Jefferson County Transit Authority Address of Requesting Entity: 1535 Morris Avenue, Birmingham, AL 35202 Description of Request: Provide $1,425,000 to acquire new and replacement buses and vans to expand service for the Birmingham- Jefferson County Transit Authority. This project's total budget is $33,800,000, which includes the acquisition of 100 replacement buses and 30 paratransit vans. This project will provide more reliable transit services in the Birmingham metropolitan area, including expanded service in the city center and urban core. This request will also assist with the on-going need to replace buses for the BJCTA Fleet Replacement Plan. This request is consistent with the intended and authorized purpose of the Department of Transportation, Buses and Bus Facilities Account. The Birmingham-Jefferson County Transit Authority will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Housing and Urban Development, Economic Development Initiatives Account Legal Name of Requesting Entity: City of Clay Address of Requesting Entity: 6757 Old Springville Road, Pinson, AL 35126 Description of Request: Provide $118,750 for necessary amenities for Cosby Lake Park. The City of Clay recently purchased Cosby Lake in the City for use as a public park. Walking trails, lighting, landscaping, a pavilion, parking and other amenities are necessary to make it useful for the public. The budget for the project is $150,000, all of which will go towards engineering and development. This request is consistent with the intended and authorized purpose of the Transportation, Housing and Urban Development, Economic Development Initiatives Account. The City of Clay will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Housing and Urban Development, Economic Development Initiatives Account Legal Name of Requesting Entity: City of Northport Address of Requesting Entity: 3500 McFarland Blvd., P.O. Box 569, Northport, AL 35476 Description of Request: Provide $95,000 to help revitalize downtown Northport. The purpose of this project is to upgrade existing infrastructure and install new infrastructure to support and encourage economic development and housing in downtown Northport. Infrastructure improvements may include but are not limited to: sewer, water, street improvements, drainage, pedestrian access and parking. The total budget for the project is $2,516,000. Specifically within the budget, $1,716,032 will go toward general construction and supplies, $163,000 toward engineering design, $129,000 toward construction engineering and inspection, $257,400 toward contingencies, and $250,000 toward moving overhead power to underground. This request is consistent with the intended and authorized purpose of the Housing and Urban Development, Economic Development Initiatives Account. The City of Northport will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Federal Highway Administration, Transportation & Community & System Preservation Account Legal Name of Requesting Entity: St. Clair County Commission Address of Requesting Entity: 165 5th Avenue, Suite 100 Ashville, AL 35953 Description of Request: Provide $475,000 for construction of an access road to the Pell City Medical Campus. When completed, this road will provide access to a medical and educational campus that will become an economic catalyst for the region and will provide improved health care for constituents of St. Clair County and surrounding areas. This roadway will also create a connector road from Highway 231 to Wolf Creek Road. This new road will help alleviate congestion on Highway 231 and allow more access to the underdeveloped Wolf Creek Road. The project's total budget is $795,000. Specifically within the budget, $430,000 will go toward grading, draining, and basing, $292,000 toward paving, striping, and traffic control markers, and $73,000 toward engineering and inspection. This request is consistent with the intended and authorized purpose of the Federal Highway Administration, Transportation & Community & System Preservation Account. The St. Clair County Commission will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Housing and Urban Development, Economic Development Initiatives Account Legal Name of Requesting Entity: Shelby County Arts Council Address of Requesting Entity: PO Box 624, Columbiana, AL 35051 Description of Request: Provide $95,000 to develop architectural plans for the construction of a performing arts facility in Columbiana, AL. The proposed 25,000-square-foot Arts Center will be a community arts education and performance facility. It will be located on approximately one acre of a seven-acre site on the corner of West College Street and Mill Street just one block from the revitalized downtown main street of Columbiana. This Center will provide multiple spaces for performance, education and exhibits and both indoor and outdoor gathering and event venues. These spaces will be open to the public as well as available for private income earning events for the Arts Center. The funding will be used to pay architectural fees associated with drawings for a new performing arts and education center located in Columbiana, Alabama. This request is consistent with the intended and authorized purpose of the Housing and Urban Development, Economic Development Initiatives Account. The Shelby County Arts Council will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: Department of Justice, Office of Justice Programs, Community Oriented Policing Services (COPS) Technology Grants Legal Name of Requesting Entity: City of Calera Address of Requesting Entity: 10947 Highway 25, Calera, Alabama 35040 Description of Request: Provide $200,000 for technology upgrades, improvements and add-ons for the Calera Police Department. As the population of Calera continues to grow, these technological advances will aid in providing more effective police protection. The department will be able to better utilize its officers in the field, reduce error in reporting, verify information in a more timely fashion, identify misbehavior by officers and citizens, and become as well equipped as other police forces around the nation who cover similar sized jurisdictions. The project's total budget is $499,600. Specifically within the budget, $162,000 will go toward Tough Book in-car MDTs, $16,200 toward in-car computer mounts, $13,500 toward e-ticket stripe readers, $10,800 toward thermal mobile printers, $4,500 toward printer mounts, $30,000 toward radio comm voter towers, $30,000 toward wireless radio voter transmitters, $162,000 toward in-car digital video cameras, $21,600 officer safety mini cams, $4,000 toward dispatch wireless head sets, $6,000 toward investigator surveillance cameras, $10,000 toward a jail camera system, $14,000 toward desk top computers, and $15,000 toward mobile radios. This request is consistent with the intended and authorized purposed of the Department of Justice, Office of Justice Programs, Community Oriented Policing Services (COPS) Technology Grants. The City of Calera will meet or exceed all statutory requirements for matching funds where applicable. Requesting Member: Congressman Spencer Bachus Bill Number: FY 2009 Omnibus Account: National Aeronautics and Space Administration, Cross Agency Support Account Legal Name of Requesting Entity: McWane Science Center Address of Requesting Entity: 200 19th Street, North, Birmingham, AL 35203 Description of Request: Provide $400,000 to advance science, technology, engineering and math education initiatives for McWane Science Center. The main objectives are to expand educational opportunities for students in these areas and to serve as a quality teacher training facility that will focus on inquiry-based education in the classroom. The center's desire is to specifically target schools that do not have the resources to provide these programs on their own. The project's total budget is $500,000. Specifically within the budget, $80,000 will go toward staff salaries/benefits, $100,000 toward teacher trainings/workshops--2,000 teachers, $150,000 toward Access--free educational field trips--15,000 students, $50,000 toward Outreach--200 classroom education programs, $75,000 toward Celebrate Science-- statewide science fair, and $45,000 toward equipment and supplies. This request is consistent with the intended and authorized purpose of the National Aeronautics and Space Administration, Cross Agency Support Account. The McWane Science Center will meet or exceed all statutory requirements for matching funds where applicable.

Mr. BACHUS

Mr. BACHUS. Mr. Speaker, we all recognize the need to get the people of our country back to work. Americans are hurting and they are looking to Washington for leadership. Borrowing and spending got us into this problem, and more borrowing and spending will not solve it. Presidents Kennedy and Reagan cut taxes across-the-board, allowing families and small businesses to decide how to spend their money, instead of government. President Carter used this spending approach, and it didn't work. This bill will cost every American household at least $7,000. Some constituents have told me, ``I might get a thousand dollars back.'' However, creating $7,000 in debt for $1,000 now is a bad deal at best. This is twice as big as the New Deal, and that was over ten years. This is one bill. Every dollar in this bill is borrowed, adding more than a trillion dollars to our national debt at a time when we are already overloaded with the financial bailout and our long-term Social Security and Medicare obligations. This spending will ultimately be paid by our children and grandchildren, and that is generational theft. I desperately wanted to support a bipartisan bill that will help put Americans back to work. But this bill has turned into a grab-bag that will not stimulate anything but government. There's $2 billion in this bill for a wasteful pro-foreclosure program, rewarding partisan action groups like ACORN. In the meantime, my governor, Bob Riley, told me yesterday that health and education programs in small states like Alabama are being shortchanged by billions. The American people deserve better. The federal government has never been able to borrow and spend our way to prosperity. The strength of our country is the innovation and ingenuity of our people--not our government. When we put capital in their hands, they put it to use, supporting their families, building their businesses, and creating jobs. That is what has always kept our economy going through good times and bad. And I am confident we will be seeing good times again--most likely before much of this trillion dollar bill is actually spent. The decisions we make today have long-term consequences. Today we are being rushed to make a trillion-dollar decision that will affect every American taxpayer for decades. As a member of the Republican Economic Working Group, led by Whip Cantor, we have offered a better plan to help struggling Americans immediately. Our alternative would create twice as many jobs at half the cost through across-the-board tax relief for working American families and small businesses. We must remember that government has no money of its o to give away. It all comes from the taxpayer.