Judy Biggert

Mrs. BIGGERT

Mrs. BIGGERT. I yield to the gentleman from Nevada (Mr. Heck), the author of this bill, for such time as he may consume.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, on that I demand the yeas and nays.

Mrs. BIGGERT. I yield back the balance of my time.

Mrs. BIGGERT. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 6186) to require a study of voluntary community-based flood insurance options and how such options could be incorporated into the national flood insurance program, and for other purposes.

Mrs. BIGGERT. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and to add extraneous material on this bill.

Mrs. BIGGERT. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise today in support of H.R. 6186, introduced by my friend and colleague on the Financial Services Committee, Congresswoman Gwen Moore. H.R. 6816 would require the Federal Emergency Management Agency, FEMA, the agency which administers the National Flood Insurance Program, NFIP, to conduct a study on the advantages and disadvantages of providing voluntary community-based flood insurance through NFIP and report its recommendations for implementation to Congress within 18 months. H.R. 6186 also requires the Government Accountability Office, GAO, to analyze FEMA's report and submit its comments or recommendations on it to Congress within 6 months. Community-based flood insurance is an insurance technique where a risk assessment is made for all the buildings in a community, and then premiums to cover that risk are paid collectively by that community rather than the current practice of assessing each building individually and having each individual owner pay a premium. This innovative tool may represent a new and better way for some communities at risk of flooding to take the necessary steps to protect their citizens. In fact, FEMA has stated in congressional testimony that voluntary community-based flood insurance could help the NFIP better account for the full cost of flood risk, as well as provide incentives to encourage communities to implement greater flood mitigation measures. Thus, we think it's appropriate to commission this study of the community-based flood insurance concept so that FEMA can understand how it could be put to the greatest benefit. Congresswoman Moore's community-based flood insurance study provision was originally introduced as part of H.R. 1309, the Flood Insurance Reform Act of 2011, the bipartisan, long-term NFIP reauthorization measure that passed the House with over 400 votes last summer. During the previous year, Congresswoman Moore's study language was also included as part of long-term NFIP reauthorization efforts that passed the House three additional times as part of other bills. Unfortunately, Congresswoman Moore's text, which is now H.R. 6186, was not included in the bipartisan Biggert-Waters Flood Insurance Reform Act that was signed into law on July 6. However, the Financial Services Committee remains committed to enacting this provision, and I want to commend Congresswoman Moore for all her hard work on this measure, and I am a cosponsor. With that, I would urge my colleagues to support H.R. 6186, and I reserve the balance of my time.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 4264) to help ensure the fiscal solvency of the FHA mortgage insurance programs of the Secretary of Housing and Urban Development, and for other purposes, as amended.

Mrs. BIGGERT. Mr. Speaker, I ask that all Members may have 5 legislative days in which to revise and extend their remarks and add extraneous material on this bill.

Mrs. BIGGERT. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, H.R. 4264, the FHA Emergency Fiscal Solvency Act of 2012, will provide the tools necessary to ensure the financial soundness of the Federal Housing Administration, or FHA. Right now, FHA is well below its mandatory 2 percent capital reserve with only .24 percent to cover losses. The administration's fiscal year 2013 budget recently admitted that the FHA may need a $688 million taxpayer bailout because of the depleted capital reserve fund. Last Friday, September 7, HUD issued its FHA quarterly report, which said that it anticipates increased foreclosures, claim activity, and related expenditures. The FHA has had an abysmal fiscal track record and, to top it off, recent data furnished by the GAO confirmed that the FHA represents about 75 percent of the insured mortgage market. FHA is a government program that has put taxpayers at significant risk and flies in the face of private capital returning to the housing financial market. The FHA Emergency Fiscal Solvency Act will provide FHA with the tools that it needs to shore up the program, lower the program's risk, and reduce taxpayers' liabilities. The bill would establish for the first time a minimum annual premium of 55 basis points and allow FHA to charge up to 2.05 percent. It would strengthen FHA's ability to recoup losses from lenders for fraudulent, misrepresented and early delinquent loans, and it would allow FHA on a nationwide basis to terminate bad lenders. It also codifies the position of FHA Deputy Assistant Secretary for Risk and establishes a chief risk officer for Ginnie Mae. These are commonsense targeted changes that would ensure accountability and financial stability within the FHA. On March 27, the Financial Services Committee unanimously passed this bill, and I would urge my colleagues to support H.R. 4264. I reserve the balance of my time.

Mrs. BIGGERT. I have no further speakers, and I yield back the balance of my time.

Mrs. BIGGERT. Mr. Speaker, on that I demand the yeas and nays.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and add extraneous material on this bill.

Mrs. BIGGERT. Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 2446, the RESPA Home Warranty Clarification Act, and urge my colleagues to support the bill. H.R. 2446 is a bipartisan bill that Mr. Clay of Missouri and I introduced last year. The bill has 40 cosponsors, including 13 Democrats and 27 Republicans, and I thank the gentleman from Georgia (Mr. Scott) for managing this bill. On March 27, the Financial Services Committee reported out the bill by voice vote. The RESPA Home Warranty Clarification Act would amend the Real Estate Settlement Procedures Act of 1974, or RESPA, to clarify that, as long as a consumer or borrower receives specific disclosures about it, a fee paid to a real estate broker or agent related to the sale of a home warranty is not a RESPA violation. When Congress passed RESPA in 1974, it intended for the law to provide consumers or borrowers with timely disclosures related to the cost of real estate settlement services. Title insurance, a flood elevation certificate and homeowners insurance are a few examples of services required at a mortgage settlement. Unlike these settlement services, a home warranty is not a required service. For a borrower or a consumer, the purchase of a home warranty is optional. It is a service contract under which a home warranty company provides repair or replacement coverage for a home's system components and/or appliances. A real estate broker or agent typically acts as a representative for the home warranty company that offers the home warranty, and the real estate broker or agent receives a commission from the home warranty company for presenting the home warranty to the home buyer if the homeowner chooses to purchase the warranty. Congress originally delegated RESPA rulemaking and enforcement authority to the U.S. Department of Housing and Urban Development, HUD. For nearly 20 years, from 1974 to 1992, HUD issued no rules or guidance related to the sale of a home warranty by a real estate broker or agent. In 1992, HUD issued regulations adding homeowners warranties as a settlement service, but was silent on the matter until recent years. Citing evidence to demonstrate a problem with home warranty-related sale practices, commission arrangements, disclosures, or the product itself between 2008 and 2010, HUD issued an unofficial staff interpretive rule and the subsequent guidance. In short, after 34 years, with no apparent problem with a product that is not required for closing, HUD determined that, under RESPA, it is a violation for a real estate broker or an agent to be compensated by a home warranty company for offering a home warranty to a borrower in connection with the real estate transaction. Mr. Speaker, HUD clearly is seeking to create a solution where there simply is no problem. HUD's unfounded interpretation doesn't follow the letter of the law as intended by Congress. According to witness testimony received by the Financial Services Subcommittee on Insurance, Housing and Community Opportunity, this misinterpretation of law has resulted in unnecessarily disrupting longstanding business practices that could increase the costs and decrease the availability of home warranties to consumers, as well as unintentionally harm small businesses. H.R. 2446 would clarify longstanding law and practice while restoring certainty related to home warranties in the real estate marketplace. I'd like to thank my colleague, Mr. Clay, for working with me on this bill, and I'd like to thank the gentleman from Georgia for managing this bill. I'd also like to thank the bill's 40 bipartisan cosponsors from across the country. I urge my colleagues to support H.R. 2446, and I reserve the balance of my time.

Mrs. BIGGERT. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2446) to clarify the treatment of homeowner warranties under current law, and for other purposes, as amended.

Mrs. BIGGERT. Mr. Speaker, I have no further requests for time if the gentleman is ready to close.

Mrs. BIGGERT. Mr. Speaker, I encourage all of my colleagues to support this bill, as amended, and I yield back the balance of my time.

Mrs. BIGGERT

Mrs. BIGGERT. I thank the gentleman from Illinois for yielding, and I commend him for his hard work on this important bill. I rise in support of the bill, H.R. 3187, the March of Dimes Commemorative Coin Act of 2011. This legislation recognizes the tremendous achievements of the March of Dimes in protecting the health of infants and mothers across the United States. Founded by President Franklin Roosevelt, as was noted, in 1938, the March of Dimes was instrumental in eradicating polio. The organization then turned its sights on birth defects, premature birth, and infant mortality. For decades, the March of Dimes has been on the forefront of medical research. It educates parents and medical professionals about healthy pregnancies and has helped significantly expand access to neonatal intensive care for premature and sick infants. H.R. 3187 recognizes the accomplishments of this great American success story of goodwill and public service, and it celebrates the 75th anniversary of the March of Dimes through a commemorative coin. I'm pleased to have been an original cosponsor of this important bill, and I urge my colleagues to join us in paying a fitting tribute to an organization known as the ``champion for all babies.''

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, massive tax increases loom on our horizon. If Congress doesn't act before January 1, middle class families will see a return of the marriage penalty, the AMT, higher rates on capital gains, dividends, estates, and painful tax hikes on incomes. According to a new study, the President's tax plan would cost us more than 700,000 American jobs. Mr. Speaker, we all hear from our neighborhood businesses back home who say Congress can't raise taxes during a recession and expect the economy to generate new jobs. Yet some of my colleagues seem content to tax anyone who might have enough revenue to hire and then hope the voters blame someone else when it hurts the middle class. Well, I don't care about the blame game. I care about jobs and the economy. Let's stop the tax hikes, extend current rates, and work immediately on effective reforms to lower rates, close loopholes, and promote growth.

Mrs. BIGGERT

Mrs. BIGGERT. Madam Speaker, today I rise to honor Marsha Giesler, an Illinois native and a recipient of the 2012 National Fire Protection Association's Fire and Life Safety Educator of the Year award. Marsha serves as the Downers Grove Fire Department public information officer, and in that role she coordinates with emergency service personnel to provide Downers Grove residents with valuable, lifesaving information and safety-related materials. She is also assistant to the chief and a juvenile fire interventionist. To help others promote safety within their own communities, she published a 400-page reference book, ``Fire and Life Safety Educator,'' the most easily accessible reference book of its kind. Madam Speaker, Marsha Giesler's more than 20 years of excellent public service have demonstrated her commitment to keeping our community safe, and I want to commend Marsha for her leadership, her dedication, and her hard work.

Mrs. BIGGERT

Mrs. BIGGERT. I thank the chairman for yielding. Mr. Speaker, I rise today to voice my strong support for H.R. 6079, to repeal the Patient Protection and Affordable Care Act. Whether it's dropped coverage, higher costs or lost jobs, the unintended consequences of this legislation continue to add up. And now that the Supreme Court has declared the individual mandate to be a tax, we know that this law contains over 20 distinct tax increases. We cannot continue to ignore the impact of this law on jobs while millions of Americans remain out of work. Nor should we cut $500 billion from Medicare or leave in place new rules that the CBO estimates will eliminate employer-sponsored insurance for millions of Americans. Instead of tinkering with broken pieces, we should take the cleaner route, repeal the law, and end policies that are raising costs. In their place, we can enact consensus-driven, bipartisan solutions that Democrat leaders have ignored in the past. At the same time, there's no reason we can't maintain coverage for preexisting conditions and young adults. Let's give the Americans what they want: lower costs, access to quality care, and more choice. We can do that through the association health plans for small businesses, by allowing consumers to buy insurance across State lines, and by extending health savings accounts. And we must move forward on commonsense legislation to curb junk lawsuits that drive up costs and force doctors to practice expensive defensive medicine. Mr. Speaker, I urge my colleagues to join me in repealing this regrettable law. Then we can put our focus back on effective reforms that will deliver lower costs without putting the government between patients and their doctors.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, I rise to congratulate David Bonner on earning the 2011 Presidential Award for Excellence in Mathematics and Science Teaching. Mr. Bonner is a physics teacher at Hinsdale South High School in Illinois. As a former school board member for Hinsdale District 86, as well as a member of the Education and Science Committee, I have seen how important STEM education is in preparing our students to succeed in the 21st century. And I also know how special it is to have a great teacher who can inspire our students to get excited about a future in science, physics, math, and engineering. Mr. Bonner should be very proud to join the ranks of only 97 teachers from across the country who have been selected for this award by a panel of distinguished scientists, mathematicians, and educators. He is a very important asset to our community, our children, and our future; and I wish him the best of luck in the future.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, I rise today to urge my colleagues today to support this bipartisan compromise to enact three of our top economic priorities. Some people have said, Well, we don't like the bundling; we don't like putting three bills together. But I think this is the art of compromise, and this is the art of the possible. Because all three of these bills are very important to all of us, I think, and to have this bipartisan way to do this, I think this is the way that we should go. I started out with the flood insurance bill. And before we even had a bill, we did a draft so that every group could look at it, so that every Member could look at it and be a part of it and to have what they thought was necessary or to talk about what they didn't think was necessary. So we came up with a bill that came out of my Financial Services Subcommittee by voice vote, but out of the Financial Services Committee last June, 54-0. And people said, How did that happen? Well, it happened because we got together and worked before we really just said, Vote for my bill. And I think it's so important that we do this and get back together to be able to work in a bipartisan way. The gentlelady from California was my cosponsor. And everybody joined together. So I think it's really important. Actually, the student loan bill is also my bill. So I really care about what is going on this morning and that we can really get together and pass these. And the transportation bill is so important to all of us. Several of us in Illinois had real concerns about how the transit part of that bill was going to be in it and really wanted to do something like what the Senate had done and include that in the trust fund.

Mrs. BIGGERT. So I really thank the gentleman, and I think that it took a lot of compromise on both sides of the aisle. But this agreement safeguards the things in all of the bills such as the suburban transit options and funds critical road and bridge projects. So it's been a long time, but I encourage my colleagues to look at the big picture and lend this agreement their strong support. Mr. Speaker, I rise today to encourage my colleagues to support this bipartisan compromise to enact three of our top economic priorities: an extension of lower student loan rates, reform of the National Flood Insurance Program (NFIP), and a long-term transportation bill. All three face tight statutory deadlines. And this agreement gives us the momentum to get all three over the finish line. Reforming the NFIP will restore financial security to the flood program, which yields savings for taxpayers and stability in the housing market. And extending affordable loan rates for our students will ensure that our young graduates don't have to pay the price for gridlock in Washington. Already, half of recent graduates are either unemployed or underemployed, and now is not the time to burden them with more debt and higher education costs. Both of these proposals began here in the House with legislation I sponsored. And both passed in the House with bipartisan support. Today, we can send them to the President alongside a third critical economic priority--a long-term transportation bill. This agreement includes a two-year extension of federal transportation funding, avoiding the need for another short-term bill. In my home State of Illinois, transportation managers need a long- term bill to invest in the road and rail projects that will keep commerce and traffic moving--not to mention create jobs. Mr. Speaker, it took a lot of compromise--on both sides of the aisle--but this agreement safeguards suburban transit options and funds critical road and bridge projects. It's been a long, tough fight, but I encourage my colleagues to look at the big picture and lend this agreement their strong support.

Mrs. BIGGERT

Mrs. BIGGERT. I thank the chairman for giving me this time. Madam Speaker, I rise in support of this conference report and wish to address particularly title II, which would reauthorize for 5 years the National Flood Insurance Program, or NFIP. There are six important reforms included in this bill: It improves NFIP's financial stability; it will reduce the burden on taxpayers; it restores integrity to the FEMA mapping system; it will help bring certainty to the housing market through a 5-year reauthorization; and last, it explores ways to increase private market participation. Many of us in Congress would like for the private sector, instead of taxpayers, to shoulder the risk of the National Flood Insurance Program. Market participants have signaled that they can assume the risk of flood insurance. And with the appropriate data from FEMA, the reinsurance industry has indicated that within weeks it can price this risk. That's why, for the first time in the NFIP's existence, this flood reform measure will require FEMA to solicit bids to determine the cost to the private sector, not to the taxpayer, of bearing the risk of flood insurance. Finally, I'd just like to say that this bill is proof that bipartisanship is possible, particularly when it comes to an issue of national significance, such as the most frequently occurring national disaster in the United States, flooding. When a flood occurs, it does not choose an area that has Republican or Democrat leanings or elected officials. Floods affect most of the country and people of all walks of life. Today's flood reform measure demonstrates the democratic process, where reforms are publicly vetted, reflect input from interested stakeholders, and are realized. Let me just thank the bill's cosponsor, Ms. Waters, as well as Chairman Bachus and the Financial Services Insurance Subcommittee and full committee staffs on both sides of the aisle. Let me just say also that I'd like to thank the Senate and House leadership, including Speaker Boehner and Leader Cantor, as well as the thousands of constituents and groups who gave their valuable time and input to making this a very good bill. I rise in support of this Conference Report, and I wish to address in particular Title II, which would reauthorize for five years the National Flood Insurance Program or NFIP. There are six important reforms included in this bill: It improves NFIP's financial stability; it will reduce the burden on taxpayers; it restores integrity to the FEMA mapping system; it will help bring certainty to the housing market through a 5-year reauthorization; and last, it explores ways to increase private market participation. Many of us in Congress would like for the private-sector--instead of taxpayers--to shoulder the risk of the National Flood Insurance Program. Market participants have signaled that they can assume the risk of flood insurance, and with the appropriate data from FEMA, the reinsurance industry has indicated that--within weeks--it can price this risk. That's why, for the first time in the NFIP's existence, this flood reform measure will require FEMA to solicit bids to determine the cost to the private sector, not to the taxpayer, of bearing the risk of flood insurance. It brings an end to the decades-old, chicken-and-egg game that has characterized the program by finally answering the question ``how-do- we-get-the-government-out?'' Flood policyholders also now will have the option to choose private flood insurance over government flood insurance without the risk of lender rejection. Taxpayer-subsidized rates are eliminated, so that the private sector can offer consumers increasingly competitive rates as compared to the NFIP. Finally, I would like to simply say that this bill is proof that bipartisanship is possible, particularly when it comes to an issue of national significance, such as the most frequently occurring natural disaster in the United States, flooding. When a flood occurs, it does not choose an area due to its Republican or Democrat leanings or elected representatives. Floods affect most of the country and people of all walks of life. Today's flood reform measure demonstrates a true, democratic process, where reforms are publically vetted, reflect input from interested stakeholders, and are realized. With that, I will note that this conference report includes the first significant reform to the NFIP in nearly a decade. After 17 extensions since 2008, multiple lapses in the program, and months of inaction, this flood insurance reform measure is a major bipartisan accomplishment. As I've said from the beginning, the NFIP is too important to let lapse and too in debt to continue without reform. I urge my House--and Senate--colleagues to support the conference report so that we can send this agreement to the President's desk and put the nation's flood insurance program back on a sound financial footing. In closing, let me thank the bill's cosponsor, Mrs. Waters, as well as Chairman Baucus, Financial Services Insurance Subcommittee and full committee staffs on both sides of the aisle, Senate and House Leadership, including Speaker Boehner and Leader Cantor, as well as the thousands of constituents and groups who gave their valuable time and input to making this a very good bill. I would also like to thank the following: My constituents in the 13th Congressional District of Illinois who provided advice to us throughout the development of this bill; Illinois floodplain managers, Paul Osman and Sally McConkey; Mrs. Waters, Chairman Bachus, and all of the 54 Members of the House Financial Services Committee who voted unanimously to pass out of Committee a flood reform bill last May (2011); All of the Members of the House who contributed to the development of this bill, and the 406 Members of the House who voted for H.R. 1309 last July (2011); Republican House Financial Services Committee staff: my designee, Nicole Austin, as well as Clinton Jones, Ed Skala, Tallman Johnson, Jim Clinger, and Eric Thompson; Democrat House Financial Services Committee staff: Charla Ouertatani, Dom McCoy, and Kelly Larkin; House Republican and Democrat leadership, particularly Speaker Boehner and Majority Leader Cantor, and their staff; Members and staff on the Science, Judiciary, and Rules Committees; Senators and Senate Banking Committee staff; Dan Hoople with the Congressional Budget Office; Paul Callen and his colleagues at the House Office of the Legislative Counsel; FEMA staff, including technical experts, congressional affairs, and Vince Fabrizio; Witnesses who testified during our hearings on flood reform; and All of the various financial services organizations, consumer groups, as well as the Smarter Safer Coalition, which includes groups from the National Wildlife Federation to the International Code Council to Americans for Tax Reform.

Mrs. BIGGERT

Mrs. BIGGERT. Madam Speaker, I rise today to salute the hardworking individuals who strive every day to protect the safety of air passengers. These are the men and women of the National Air Traffic Controllers Association, NATCA, who yesterday celebrated their 25th year as the guardians of the U.S. national airspace system. On June 19, 1987, the Federal Labor Relations Authority certified NATCA as the exclusive bargaining representative for the Federal Aviation Administration air traffic controllers. NATCA now represents more than 20,000 air traffic controllers, engineers, and other aviation safety professionals. They have the safest record in history, guiding 70,000 flights per day and protecting over 700 million passengers per year. Madam Speaker, I would ask all of my colleagues in the House today to join NATCA in celebrating a quarter century of hard work, keeping America's airspace system the safest in the world.