Shelley Capito

Mrs. CAPITO

Mrs. CAPITO. I would just like to speak very briefly in support of the gentleman's amendment. We have all had in our States issues with knowing the correct way to leave and evacuate certain areas. I sort of was hoping that this area of information was already covered. So I want to thank the gentleman for bringing this amendment forward, and I would ask that we support the gentleman's amendment. I yield back the balance of my time.

Mrs. CAPITO. I would like to address the gentleman's amendment really in the broader context of the Office of the Flood Insurance Advocate. This is creating it within this bill, and I think in my opening statements I addressed this issue. It's creating a new office. And at a time when we have rising debts and deficits, we are creating another bureaucracy, another obligation on the Federal taxpayer where I think that we could work within existing regulatory and administrative offices to try to accomplish the same thing. We had a discussion yesterday in the Rules Committee where the chairwoman of our subcommittee talked about the need for advocacy. And I don't oppose the need for helping people wind through the intricacies of FEMA, trying to make appeals, trying to find out when and how they're going to be paid or what their alternate living arrangements might be and all the things that an advocate can do in terms of winding through a large bureaucracy like FEMA. But FEMA has assured us that they have already a functioning appeals process, and on top of an Inspector General and continual GAO oversight of the NFIP program. So I think that the advocacy office itself is representing some duplicative and unnecessary bureaucracy and spending. So while I don't oppose the gentleman's amendment, if the advocacy office goes through, it's not really the substance of your amendment, it's really more the basis of the flood advocate itself, Office of the Flood Advocate itself. I yield back balance of my time.

Mrs. CAPITO. Mr. Chairman, I claim time in opposition to the amendment.

Mrs. CAPITO. Mr. Chairman, I would like to say that the chairwoman's manager's amendment does make good improvements to the underlying bill by phasing out taxpayer subsidies for severe repetitive losses. As we know, and as I said in my opening statement, the NFIP is facing serious financial challenges and the program cannot afford to go on its current path. So in this respect, I think that Chairwoman Waters' manager's amendment is a positive step in the right direction. In addition, the manager's amendment includes additional reforms that seeks to reduce the subsidies over time that continue to burden this program. The measure includes several provisions to address local community concerns that we have all heard in our districts resulting from new flood risk maps and the ongoing flood control projects, resulting in delays of purchase requirements and higher rates in certain cases. I would like to point out why I believe that phasing out the subsidies for severe repetitive loss properties is important. If you look at the accounting for these losses over the last several years, the repetitive loss properties only account for 1 percent of the total policies in the program nationwide, yet the repetitive loss properties account for almost 30 percent of the claims paid annually. Well, I think there is a sense of fairness about this, and most of us recognize that this is unfair. The subsidies for folks who continue to live in repetitive loss property areas continue to run up the losses in this very important flood insurance program. The high incidence of claims on repetitive loss properties has cost the National Flood Insurance Program more than $2.7 billion since 1978. So with the reforms that the chairwoman has made in the manager's amendment, I support the manager's amendment. I yield back the balance of my time.

Mrs. CAPITO

Mrs. CAPITO. I would like to thank Mr. Sessions for yielding me the time. I would like to thank our ranking member, Spencer Bachus, for his dedication to this issue. I would also like to thank the chairman of our full Committee of Financial Services for his dedication to this as well. But, Madam Speaker, as we stand here today, unfortunately, this is a missed opportunity. From the start of the debate, it was apparent there was little or no interest from our Democrat colleagues in working towards a consensus bill on regulatory reform. Now they are using budgetary smoke and mirrors, and I think that it will be apparent to Americans as this bill unfolds. As my constituents say to us all the time: Work together. Shelve the partisanship. The stakes are too high. But, unfortunately, the bill before us was drafted without our significant input. We are now faced with a bill that will give us institutionalized government bailouts, limit consumer choices, and raise the cost for businesses, our job creators across this Nation. My colleagues on the other side of the aisle will be basking in the rhetoric and high praise for cracking down on Wall Street. However, the resolution authority in this bill does little or nothing to address the issue of the moral hazard that has been created by the TARP program. Instead, failed firms will be wound down at taxpayers' expense. Under this resolution authority, the big will get bigger, and they will push the limits of risk because they will know that the government will be there to pay for their demise. In fact, many of the tools used for TARP are institutionalized in this legislation. My friends can opine on Wall Street reform all they want, but this bill does not achieve that. Why should the people of West Virginia help pay for poor decisions of Wall Street bankers, or in any State? Well, they shouldn't. But for over a year we have advocated for an enhanced bankruptcy for these large, highly complex financial institutions. This approach would have created a level playing field between Wall Street and Main Street and would have assured all parties know the rules of the game ahead of time. Furthermore, the taxpayers would not have to worry if their children and grandchildren will have to pick up the tab for the mistakes of the fabulous fabs of the world. Unfortunately, the majority has decided once again to turn a deaf ear to America's cries to end the bailouts. This bill will fuel the growth of Wall Street, will lead to job loss, and it represents a missed opportunity.

Mrs. CAPITO

Mrs. CAPITO. Mr. Speaker, I yield myself such time as I may consume. I rise today to thank my colleague from West Virginia's Third Congressional District (Mr. Rahall) for offering this resolution, honoring the passing of our senior Senator, Senator Robert C. Byrd. I want to thank the Speaker, my other colleague from West Virginia, for his dedication and friendship to Senator Byrd through many more years than I have served here in this Congress. As the three of us know, this is a difficult time for all West Virginians and the United States Senate. As my colleagues know, Senator Byrd was an institution not only in West Virginia but also in the United States Senate. Coming from very modest beginnings, the young man from rural Raleigh County, West Virginia, rose from the mountains of Appalachia to become a lion in the greatest deliberative body on Earth, the United States Senate. His path to success is truly emblematic of the American Dream. Few can travel through our great State of West Virginia without recognizing the effect Senator Byrd had on our State. While he is well recognized for the many roads and buildings that are named in his honor, it is the leadership he displayed in bringing our delegation together when it mattered most for West Virginia that is truly a testament to the effect he has had on our State. During my tenure--which for him was recent, 10 years--he rallied our delegation to save the 130th Air National Guard unit from being cut, and he began working with all of us towards a consensus on mine safety legislation after the tragic Sago mine incident. He was an able leader and led us all as leaders for West Virginia. Senator Byrd was also a wonderful ambassador for Appalachia. West Virginians are very proud of our heritage and our strong work ethic throughout our lives, and Senator Byrd continued to share Appalachian culture--we just heard from Mr. Obey on that--with his colleagues in Washington. Whether it was displaying his musical talents on the fiddle or his dedication to both American and world history or the process of the United States Senate or the protection of our Constitution, Senator Byrd was truly a man of many talents. I will fondly remember, as I was attending a meeting in Charleston, West Virginia, probably 12 years ago--I knew about his fiddling, but I didn't know about his love of music and his vocal ability--when he joined Kathy Mattea in singing a duet of Amazing Grace. It was a great moment for me, but for him, he was celebrating his three loves: his music, his love of education, and his faith in God. I also remember--and the other members of the delegation will remember this, too--we were in his office, and he served us lunch in his office. And when it came time for dessert, he asked all of us if we wanted dessert. And since we were all watching our waistlines, we sort of waived off dessert and said, No, we really don't need dessert. It's lunch. I think we are going to pass on dessert. No, no. We must have dessert. We must have apple pie and ice cream. And then he proudly told us how he had maintained the same weight for the last 57 years in the United States Congress. I think that's a feat to be celebrated, quite frankly. He also talked a lot about--and we heard this, too--the love of his dogs. I remember when his beloved Billy died. He was crushed, and he wasn't afraid or ashamed or embarrassed to express the love and the compassion that he had and the companionship he felt with his dog. And I think that's a common bond that a lot of people here in the United States, but also in West Virginia, share. So with Senator Byrd's passing, West Virginia has truly lost a favorite son. The United States Senate has lost an icon. And as any Senator will tell you, Senator Byrd served as a tremendous mentor in passing on Senate procedure to newly elected Senators. In many ways, Senator Byrd was an institution within the institution of the Senate, and the Senate will not be the same without him. I will miss Senator Byrd's passion and ardent defense of our Nation's Constitution. He was certainly one of a kind, and I feel privileged to have served with him. I will never forget the advice that he gave me when I first sought his counsel when I first went in, in my first year serving in this body. And he said, ``Shelley, you need to be a workhorse, not a show horse.'' Senator Byrd will always be remembered for his hard work as a workhorse and also for his dedication to representing our great State of West Virginia. I wish to extend to Senator Byrd's family my deepest sympathies and know that he is at peace and at home with his beloved Erma. So I would again thank Mr. Rahall for presenting this. Senator Byrd will certainly be missed. And I want to pay tribute to his tremendous service, sacrifice, strength, honesty, and devotion to our State and Nation. I reserve the balance of my time.

Mrs. CAPITO. Mr. Speaker, I have no further requests for time, and I yield back the balance of my time.

Mrs. CAPITO. Mr. Speaker, I yield such time as he may consume to the gentleman from California (Mr. Lewis).

Mrs. CAPITO

Mrs. CAPITO. I'd like to thank my friend from Maryland for recognizing me. I'd particularly like to thank my fellow member of the delegation, Mr. Rahall, for bringing House Resolution 1153 forward. The occurrence of this crash straddled two of our counties. His is Pocahontas and mine is Randolph. We both know very well that we don't call West Virginia ``Wild and Wonderful'' for no reason. This is one of the wildest parts of our beautiful State. And so I want to offer my congratulations to the brave men and women of the 130th Airlift Wing, which is headquartered in Charleston, West Virginia, in my district, and all the first responders and citizens who helped with this rescue. As we've heard, Major Hazuka of Bluefield, West Virginia, of the 130th Airlift Wing of the National Guard, discovered the Navy Kittyhawk helicopter which had crashed over Randolph and Pocahontas Counties in terrible weather conditions. They acted very, very quickly. I would also like to honor Army National Guard Flight Medics Staff Sergeant Nicole Hopkins and Specialist Casey Dunfee, who were lowered to the landing site to give emergency medical care and to help coordinate the efforts. The 130th Airlift Wing represents the best of West Virginia, and their heroic response to this crash further establishes their importance to this State. As my colleague from West Virginia so eloquently put it, it didn't surprise any of us. This unit and those around our State and around this Nation are known for their willingness to step up when they're most needed. But the terrain and the weather on that particular day was incredibly dangerous. I know my colleague from Pennsylvania mentioned all of the different units of first responders that responded that day, but I would like to repeat their names: the West Virginia Civil Air Patrol, the Valley Head Fire Department, the Northern Greenbrier EMS, Greenbrier County Ambulance, White Sulfur Springs EMS, Cass Rescue, and the Greenbank National Radio Astronomy Observatory, which is very close in Pocahontas. I'd also like to thank the Snowshoe Resort for their willingness to share equipment. We also had the Pocahontas County Emergency Management, West Virginia State Police, Pocahontas County Sheriffs Department, Pocahontas County 9/11, U.S. Forest Service, Bartow-Frank-Durbin Volunteer Fire and Rescue, along with the Department of Natural Resources and sheriff departments from the surrounding areas. As you can see, it was a collegial effort, an enormous effort, and one that when we first received the news of this accident over our local television and radio stations, really had us on the edge of our seats because I think we knew how treacherous a rescue in this area could be at this time of year. So I'd like to say congratulations. Again, I'd like thank my colleague Mr. Rahall for bringing this resolution forward, and I would like to ask my colleagues to join in congratulating not only our first responders and our National Guard, but also take the time to thank their local and State National Guard and local first responders for all the good work they do voluntarily every day for our benefit.

Mrs. CAPITO

Mrs. CAPITO. The gentleman's amendment is similar to previous efforts by Republicans in past housing debates to ensure that convicted sex offenders are unable to receive the Federal aid to obtain housing through the FHA. I think the intent and the direction that the gentleman is going to absolutely appropriate. I support his amendment. I yield back the balance of my time.

Mrs. CAPITO. I rise to claim the time in opposition, although I am not opposed to the gentleman's amendment.

Mrs. CAPITO. I would like to claim time in opposition, although I am not opposed to the gentleman's amendment.

Mrs. CAPITO. I would just reiterate that the Congressman's amendment seeks to ensure that the employees hired by FHA as a result of funds made available in this bill are in good standing and not guilty of viewing any previous pornography or any related disciplinary measures. As the gentleman said, I think all of us, and certainly throughout the country, were stunned to learn some of the statistics of certain government employees not only viewing inappropriate material, but the absolute, incredible waste of government resources and waste of time that these employees have engaged in. So, I think it's right and proper, as this amendment moves forward, to ensure that we protect against those abuses in the future. I support the gentleman's amendment. I yield back the balance of my time.

Mrs. CAPITO. I rise to claim the time in opposition, although I'm not opposed to the gentleman's amendment.

Mrs. CAPITO. As the Congressman has stated, his amendment merely ensures that HUD will take no action between now and the end of FY 2011 to bar the Chinese drywall victims from eligibility from HUD's special mitigation and forbearance program. Since this does not create a new program or new spending, it just ensures an existing effort by HUD to extend aid to Chinese drywall victims remains in place through FY 2011, I commend the gentleman on his amendment, and I support the gentleman's amendment. I yield back the balance of my time.

Mrs. CAPITO. Again, I voice my support for the amendment, and I yield back the balance of my time.

Mrs. CAPITO. I rise to claim time in opposition, although I'm not opposed to the amendment.

Mrs. CAPITO. I rise in support of the amendment offered by the gentleman from California. As my colleague from California knows all too well, rising foreclosure and delinquency rates continue to affect all areas of the mortgage market. Secondary markets for mortgages have seen a significant drawback that has led to a reduction in the availability of credit. Lenders have tightened credit standards making it more difficult for delinquent borrowers to refinance. At the same time, because of falling home prices and certainly in many parts of the country, like the gentleman's home district, borrowers are finding themselves unable to refinance into more affordable or fixed-rate products because their outstanding mortgage loan balances exceed their homes' values. States such as California, Florida, Arizona, and Nevada continue to dominate the national delinquency and foreclosure markets. The Cardoza amendment prioritizes assistance to the areas that have been hardest hit by foreclosure and unemployment compared to the rest of the country. I am prepared to support the gentleman's amendment, and I would like to say that one area of the gentleman's amendment that I particularly am in favor of--because we kind of go through this discussion on a lot of different bills, where to put the greater emphasis, and I think the greater emphasis and the greater dollar assistance need to go to the places that are the hardest hit and do have the most difficult problems. And so I think this is well-intentioned, and I would support the amendment. I reserve the balance of my time.

Mrs. CAPITO. As the gentlewoman from Illinois stated, this gives HUD the authority to increase FHA down payments and would require an annual report. I'd like to ask the gentlelady, if I could, a question about her amendment, if she would be willing to help me out with some clarification. You mentioned in your statement that HUD had already raised the down payment requirements with those of credit scores of 580 and below up to 10 percent. So my question is, it seems apparent to me that HUD already has the authority that you are granting in this amendment. HUD can already now go in and raise down payments. I would like to know what the distinction is or what the difference of the authority is that you're granting in your amendment from the authority that HUD already has. I yield to the gentlewoman from Illinois.

Mrs. CAPITO. I would like to claim the time in opposition, although I am unopposed to the amendment.

Mrs. CAPITO. Mr. Chairman, just briefly, I would like to thank both the sponsors of the bill. Certainly the intent is for more information and certainly more accurate information to look at the programs that we're putting forth and that have been put forth to see if the loss mitigation efforts are working and in what ways we can improve them. So I congratulate you and I urge support of the amendment. I yield back the balance of my time.

Mrs. CAPITO. Thank you. Very precise. I appreciate that. I still have skepticism even about 10 million, which in everyday dollars is still quite a bit of money. And, as I said, we need to look at what we are doing on the bottom line here. So, while I am very sympathetic and I think that the amendment has some merit, I would stand in opposition to the amendment. I yield back the balance of my time.

Mrs. CAPITO. Right.

Mrs. CAPITO. The other question I would ask the gentleman, and I know we would have to go to Appropriations to get the money allotted for this particular amendment: What would be the approximate cost of something like this? This is something where we are in this time of debt and deficit, and we need to cut our spending here. I think we need to be very vigilant on the bottom line. What is the bottom line of this amendment?

Mrs. CAPITO. I think the gentleman from Massachusetts brings forward an issue, and I have great sympathy for those who are caught basically, it sounds like, in a bureaucratic maze here, missed a date not really by their own doing but by maybe just because of the process they were involved in. The question I have, and the reason I have skepticism on the gentleman's amendment, he began with, I think the number that the gentleman said, this may influence 15,000 folks. Was that the number that you said in your statement? I yield to the gentleman from Massachusetts.