Judy Biggert

Mrs. BIGGERT

Mrs. BIGGERT. Madam Speaker, I rise today to recognize this April as Financial Literacy Month. Each year my good friend and fellow chair of the House Financial and Economic Literacy Caucus, Mr. Hinojosa, and I work to bring Financial Literacy Month to Capitol Hill. In that effort we are joined by our longtime Senate allies, Senator Akaka and Senator Enzi. Traditionally, we have offered a resolution as a way to showcase the latest trends in financial and economic literacy. This year, however, the House is taking an understandable break from debating commemoratory resolutions in order to focus attention on pressing items like the budget. Nonetheless, I want to take a brief opportunity today to encourage my colleagues to take part in this year's Financial Literacy Month. It's a time when nonprofits, educational institutions, financial organizations, government agencies, and others work together to protect consumers and prepare our children to prosper in today's sophisticated marketplace. For example, from April 17 through 23, America's credit unions will hold National Credit Union Youth Week, which focuses on teaching young Americans about the benefits of setting goals and saving to reach them. In a parallel effort, the American Bankers Association Education Foundation held Teach Children to Save Day on April 12. It's an annual event during which America's banking professionals have volunteered to teach money skills to 4 million young people. Madam Speaker, this is a trend we should applaud, one that I encourage my colleagues to participate in by joining the Financial and Economic Literacy Caucus. Members and their staffs can also join us this Friday in the Cannon Caucus Room from noon to 3 for a Financial Literacy Day Fair featuring information and constituent outreach materials from 55 of the Nation's leading financial literacy organizations, including the Jump$tart Coalition, Junior Achievement, and the Council for Economic Education. Madam Speaker, too many Americans continue to enter the workforce unprepared to handle money, buy a home, or save for retirement. According to the Jump$tart Coalition's most recent survey, our high school seniors are now scoring lower on financial literacy than they have during any years since 2000; and yet, according to a 2009 survey from the Council for Economic Education, only 34 States require school districts to include personal finance in their education standards for students K-12. These are troubling numbers, and that's why we must work together to give Americans the tools they need to prepare against economic uncertainty, recognize deceptive practices, build credit, and make dozens of other day-to-day financial decisions. These are skills that everyone must learn to prosper in today's complex marketplace, and that's what Financial Literacy Month is all about. So I encourage my colleagues who are interested in learning more to join us this Friday from noon to 3 in the Cannon Caucus Room for our annual Financial Literacy Day Fair.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, I rise today to recognize Home Farming Day, an initiative launched by the nonprofit organization Urban Farming in partnership with the Kraft Foods Triscuit brand. The event celebrates those who are growing food at home or with their communities and, in turn, nurturing and inspiring healthier eating habits nationwide. Last year, the first Home Farming Day resulted in the planting of 50 new farms in unused urban spaces in 20 cities. I was pleased that my office could participate in the groundbreaking on one of those gardens in my congressional district. This year, Triscuits and Urban Farming plan to replant all 50 gardens and add 15 new farms throughout the country, totaling 65 community- based home farms. Food grown at these community farms goes directly to the volunteers who grow the crops, along with their families and communities. Volunteers can also donate to local food banks for those that are in need. In my home district, crops are delivered to the Loaves and Fishes Community Pantry in Naperville, Illinois, where they provide low-income families with fresh, healthy meals. Mr. Speaker, from the White House to our own backyards and windowsills, more and more Americans are taking up the fun and healthy pastime of growing their own food. It is not unlike what many of our parents and grandparents did during World War II when they planted 20 million ``victory gardens.'' I can recall stealing into my own mother's victory garden to eat the raspberries and gather crops of rhubarb, squash, and tomatoes. In fact, home gardening already is an activity that most Americans enjoy. A 2010 Garden Writers Association survey found that 66 percent of Americans have some form of lawn or garden, and younger Americans between the ages of 25 and 40 are now gardening at the same rate as the general population. And Home Farming Day is an opportunity to encourage that trend, especially among young people in urban communities where fresh fruits and vegetables may be less available. Whether on a kitchen countertop, in a balcony flower box, or at a community plot, home farming is a great way for people of all ages to celebrate natural living, and treat themselves to some fresh fruits and vegetables while they're at it. It is a goal worth pursuing, and I'd like to commend Triscuit, the 109-year-old cracker brand manufactured in my congressional district, and the home farming movement for helping to show Americans how easy it is to grow fresh vegetables and herbs right in their own backyard. I'd like to congratulate Urban Farming and their partners on their success in expanding Home Farming Day across the country, encouraging communities to utilize open spaces to bring fresh ingredients to our homes.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Speaker, I rise today to honor the life of one of America's great military heroes, Lieutenant General Selmon Willard Wells, or Jim as he was known to his family. General Wells passed away in December at the age of 94 after a lifetime of distinguished service to his country. Today, his friends, family, and loved ones will gather to celebrate his amazing life in a special service near his home in California. Among those will be his children, three grandchildren, and six great-grandchildren. Mr. Speaker, there's no way I could do justice to all the achievements of this amazing man in the time I have here. Jim first earned his wings in 1941 and went on to log over 12,000 hours of flying time as a command pilot, with over 700 hours of combat time. He flew hundreds of missions during three wars--World War II, Korea, and Vietnam--and has been honored with almost every medal imaginable. After commanding forces all over the world, he culminated his military career as an inspector general of the Air Force here in Washington. Today, I would like to join with my colleagues here in the U.S. House of Representatives to express to Jim's family and loved ones our heartfelt sympathy on his loss and our sincere gratitude for his service to the Nation he loved. Mr. Speaker, during his service today, it was the hope of many that General Wells would be honored by a military flyover. I am disappointed to say that the Air Force was unable to accommodate this wish, but I know there's no military airman in America who does not join us in honoring the memory of this hero. And if anyone would understand the logistical challenges of command, it would be Jim.

Mrs. BIGGERT

Mrs. BIGGERT. Mr. Chairman, I demand a recorded vote.

Mrs. BIGGERT. Mr. Chairman, I yield myself such time as I may consume. Mr. Chairman, I rise in support of H.R. 839, the Home Affordable Modification Program, or HAMP, Termination Act and commend my colleague from North Carolina (Mr. McHenry) for introducing this bill. H.R. 839, the HAMP Termination Act, would put an end to the poster child for failed Federal foreclosure programs. Announced by the administration in February 2009 and launched in March 2009, the program has languished for 2 years, hurt hundreds of thousands of homeowners, and must come to an end. According to the Congressional Budget Office, this bill would save $1.4 billion over 10 years. To date, the HAMP program has already consumed $840 million of the more than $30 billion of TARP funds that were set aside for the program. For this extraordinary investment, the administration predicted that 3 to 4 million homeowners would receive help. Sadly, for many American homeowners, the program has been an abysmal failure. In fact, HAMP has hurt more homeowners than it has helped. The program has completed about 540,000 mortgage modifications. Another 740,000 unlucky homeowners had the rug pulled out from under them: their modifications were cancelled. Even the Government Accountability Office, GAO, commented that ``more borrowers have had their trial modifications cancelled than have received permanent modifications.'' Earlier this month, on March 2, the Financial Services Subcommittee on Insurance, Housing, and Community Opportunity received testimony from the Special Inspector General for the Troubled Asset Relief Program, SIGTARP, Neil Barofsky. He exposed the most hazardous failing of the program, noting that ``there have been countless published reports on HAMP participants who end up worse off for having engaged in a futile attempt to obtain the sustainable relief that the program promised. Failed trial modifications often leave borrowers with more principal outstanding on their loans, less home equity, depleted savings, and worse credit scores.'' He continued by saying that ``worst of all, even in circumstances where they never missed a payment, they may face back payments, penalties, and even late fees that suddenly become due on their `modified' mortgages and that they are unable to pay, thus resulting in the very loss of their homes that HAMP was meant to prevent.'' Mr. Chairman, many of my own constituents, like homeowners around the country, were lured into HAMP with the promise of relief. In the end, these misled homeowners ended up with no permanent modification, tens of thousands of dollars deeper in debt. One of my constituents reported that after many, many months under a trial modification, he was rejected from the program and immediately handed a bill for $42,000 in back payments, penalties, and late fees. How is that an effective foreclosure protection? HAMP has been plagued by problems from the start and is beyond mere reform. Numerous oversight bodies, including the GAO, have cited time and time again that Treasury has failed to respond to recommendations to ``increase the transparency, accountability and consistency of the program.'' Last year, the Congressional Oversight Panel, or COP, noted that ``because Treasury's authority to restructure HAMP ended on October 3, 2010, the program's prospects are unlikely to improve substantially in the future.'' COP also stated that ``billions of taxpayer dollars will have been spent to delay rather than prevent foreclosures.'' It is clear that the administration has no intention of fixing the numerous problems in its flagship foreclosure program, a fact which has not gone unnoticed by the public. Americans for Tax Reform submitted testimony for our March 2 hearing, stating that ``HAMP has been the U.S. Treasury and Department of Housing and Urban Development's primary spending program for combating foreclosures, and the program has been a costly failure.'' Headlines around the country agree. A recent Washington Times article said that ``Obama's helping hand hoodwinks homeowners; government mortgage assistance can be worse than nothing.'' A recent Wall Street Journal article was entitled ``Housing Market Masochism; the latest bad idea to raid banks and delay a home-price recovery.'' We need to break down the barriers that have delayed the housing market recovery, including expensive and ineffective programs that have hurt so many homeowners. Unfortunately, programs like HAMP were set up in haste and have done little to restore stability in the market. We need to stop funding programs that don't work with money that we don't have. Out-of-control Federal spending is hurting our economic recovery. Our Nation faces a $14.2 trillion national debt, and economists agree that reducing government spending will create a more favorable environment for private sector job growth. That's exactly what unemployed Americans and homeowners need: a job and a paycheck, not a handout or other failed taxpayer-funded government programs. I reserve the balance of my time.

Mrs. BIGGERT. I yield 5 minutes to the gentleman from North Carolina (Mr. McHenry), the sponsor of this bill.

Mrs. BIGGERT. I yield myself 30 seconds. The gentleman from Delaware talks about his State. Let me just say that in Illinois, if we look back quarter by quarter, HAMP permanent modifications, for example, in the second quarter of 2010 were 167,000; but the proprietary were 331,883. The next quarter, 97 HAMP and 346,910. And it goes on. And I think that's something to keep in mind, that the private sector can do it better.

Mrs. BIGGERT. I yield myself another 30 seconds. The private sector, out of 4.1 million modifications, 3.5 million of those were private sector, and the rest of the 550. And that doesn't include the 750,000 modifications that were made by HAMP that were canceled. I reserve the balance of my time.

Mrs. BIGGERT. Mr. Chairman, I rise in opposition to the amendment, even though I am not opposed.

Mrs. BIGGERT. I just have a question for the sponsor of this amendment. You have had several amendments in several of these bills, and I wanted to make sure this is the same as what you and Mr. McHenry agreed to.

Mrs. BIGGERT. You are just asking for this amendment, not to change the bill or anything?

Mrs. BIGGERT. You are just asking for support of this amendment and not for anything concerning the bill?

Mrs. BIGGERT. Reclaiming my time, we accept the amendment. I yield back the balance of my time.

Mrs. BIGGERT. Mr. Chairman, if I might inquire how much time is remaining on both sides.

Mrs. BIGGERT. I reserve the balance of my time.

Mrs. BIGGERT. I yield 2 minutes to the gentleman from Pennsylvania (Mr. Fitzpatrick).

Mrs. BIGGERT. I yield such time as he may consume to the chairman of the Financial Services Committee, the gentleman from Alabama (Mr. Bachus).

Mrs. BIGGERT. May I request again the time remaining, Mr. Chairman?

Mrs. BIGGERT. Mr. Chairman, I reserve the balance of my time.

Mrs. BIGGERT. I yield 1 minute to the gentleman from North Carolina (Mr. McHenry).

Mrs. BIGGERT. Mr. Chairman, I have no further requests for time, and I reserve the balance of my time.

Mrs. BIGGERT. I yield 15 seconds to the gentleman from North Carolina (Mr. McHenry).

Mrs. BIGGERT. I yield the remainder of my time to the gentleman from North Carolina (Mr. McHenry).

Mrs. BIGGERT. I claim the time in opposition, even though I am not opposed to the amendment.

Mrs. BIGGERT. The gentleman is not here.