Member of Congress
Gerald Connolly
- Role
- Former Representative
- State
- VA
- Party
- Democrat
Speeches
CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 20102009-04-01
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. I thank the distinguished Member from California for yielding. The concurrent resolution before the House reflects President Obama's bold vision for investing in America's future. Throughout the previous administration, a sustainable and clean energy policy was ignored and our dependence on foreign oil grew. I am proud that this Congress has done more in the past 2 months to promote energy efficiency and combat global climate change than the previous administration accomplished in a full 8 years. At the local level, I enlisted counties across the Nation to join Cool Counties, a program designed to reduce greenhouse gas emissions. Now is the time for the Federal Government to take similar action. This budget increases investment in renewable energy and energy efficiency by 18 percent and provides for a clean energy policy that will safeguard our environment, our Nation, our economy, and create jobs. Through the use of a reserve fund, this budget makes significant energy investments in a deficit-neutral manner. This Congress, through the American Recovery and Reinvestment Act, made almost $60 billion in energy investment--$39 billion in direct funding and $20 billion in tax incentives. Our actions will modernize our electricity grid. The current grid is outdated, inefficient and unreliable. A smart grid will enhance energy efficiency, lowering energy bills and improving air quality. A 5 percent increase in the efficiency of the grid will eliminate carbon emissions equivalent to the emissions of 53 million automobiles. This Congress, through the Recovery Act, invested in the weatherization of millions of American homes, enabling families to better insulate their homes and lower energy bills, and we know that weatherization is among the most efficient ways of lowering our energy dependency on foreign oil. Investment in energy independence will benefit our economy. Instead of relying on foreign countries to meet our energy needs, this budget will promote the creation of green jobs right here in America. Instead of losing manufacturing jobs, as we have over the past 25 years, we can add jobs in wind and solar power generation; in the manufacturing of advanced batteries; in weatherization programs; in the creation of the smart grid; in the expansion of broadband; and in hybrid vehicle production. Investment in clean energy, Madam Chairman, is an investment in the American worker. It creates jobs. We must invest once again in America, in efficient automobiles and wind turbines. These investments will protect our climate and lay the groundwork for a new age of industrial expansion founded on technological innovation. The energy investments that this budget enables fulfill President Obama's vision for clean energy independence and promote a healthy environment while strengthening our economy. I urge my colleagues to support the budget resolution.
Mr. CONNOLLY of Virginia. I'm hopeful that the gentleman will allow me to answer. Actually, he is misinformed. This budget actually cuts taxes by $2 trillion. It finances the AMT----
Mr. CONNOLLY of Virginia. Sir, I'm not going to answer your question yes or no. I'm going to answer it thoughtfully as a member of the Budget Committee.
Mr. CONNOLLY of Virginia. Madam Chairman, let me begin by thanking the chairman for the opportunity to discuss the House budget resolution. And I appreciate the chairman's willingness to work with me to include language in the budget resolution to support pay parity within the Federal workforce of our civilian and military employees. Our men and women in uniform have distinguished themselves throughout history, particularly during this time of war; and, at the same time, we cannot forget the critical role civilian employees play in providing logistical support to our military as well as their important work on behalf of our taxpayers and essential government services. I would also note that the House budget resolution lays the foundation to carry out President Obama's bold vision for fixing the American economy. While advancing the major priorities of the Obama budget, the budget resolution is by definition a less specific document than the President's budget and, therefore, does not assume all of the specific offsets included. For example, I have expressed concern about the President's proposals to cap tax deductions for mortgage interest and charitable deductions. Similarly, I and others believe the $250,000 threshold to allow families to qualify for tax cut extensions is too low. I am pleased, therefore, that the budget resolution does not assume any specific tax offsets to meet its revenue targets. If I may ask the distinguished chairman of the Budget Committee two questions. First, Mr. Chairman, does the chairman agree that the pay parity language included in the resolution provides equitable treatment for Federal employees, civilian and military?
Mr. CONNOLLY of Virginia. I thank the distinguished chairman. Let me close, Madam Chair, by thanking the chairman once again for his generous collaboration with me and my colleagues on this, my first budget as a member of the committee. Through his steady leadership, the budget resolution before the House today delivers the profound change in course and investments in America's communities for which my constituents have long been waiting.
FISCAL YEAR 2010 BUDGET2009-03-31
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. I thank the Speaker. Madam Speaker, listening to some of our friends on the other side, I am struck sometimes with the idea of--have you no shame? The crowd that brought us from record surpluses in 8 brief years to record deficits-- have you no shame? The crowd that rode this economy, a healthy economy that was growing jobs, into the economic ditch--have you no shame? The crowd that oversaw the dismantling of strict enforcement of regulation and prevented regulation of the financial services industry to any great degree when it came to complicated financial instruments and then is surprised at the results--have you no shame? Madam Speaker, today I rise to discuss the fiscal year 2010 budget and its critical importance to our Nation's future. The latest estimate of our 2008 fourth quarter GDP decline is now 6.3 percent. After a record job loss of 681,000 in December, January and February losses both topped 650,000. Almost 2 million Americans have lost their jobs in just the last 3 months. The Federal Reserve has estimated that GDP for the entirety of this year will decline between 0.5 percent and 1.3 percent, which underscores the dire need for action. Every further contraction in our economy represents additional Americans who lose their jobs. President Obama has set a bold agenda to heal our ailing economy. While no one action will instantly fix the economic troubles we have been left by the Bush administration, the President and this Congress have taken a number of steps to put us on the path to recovery. Like many of my colleagues, I have already seen positive effects of the American Recovery and Reinvestment Act in my district: A community health center at risk of closing its doors received funding and is treating patients today. Local small businesses that were laying off workers are now rehiring them to complete transportation projects. But there's more to accomplish. President Obama's vision is transformative and provides for the critical investments in America that have been neglected for far too long. Deficit reduction, middle- income tax relief, health care reform, education and energy independence are the linchpins of the President's plan. Under President Obama's plan, at the end of 4 years, we will have cut the current year's deficit of $1.8 trillion, most of it inherited from President Bush, by two-thirds, to $586 billion. The fiscal year 2010 concurrent resolution on the budget reduces nondefense discretionary spending over the next 10 years to its lowest level as a percentage of GDP in almost 50 years. This Congress expects similar fiscal responsibility from the private sector and that is why the Budget Committee cut $250 billion reserved for future financial sector bailouts. The President's vision supports the middle class by expanding the child tax credit, maintaining the elimination of the marriage tax penalty, carrying forward the Making Work Pay tax credit, maintaining the estate tax and capital gains tax reductions, and ensuring that the alternative minimum tax does not hit the millions of working Americans in danger of being affected. There are $1.5 trillion of tax cuts in this budget. The President's vision supports meaningful health care reform as well. Even as overall health care costs rose over the last 8 years, the number of Americans without health insurance increased from 13.7 percent of the population to 15.3 percent. Under the President's proposal, we will be able to offer health care to the 46 million Americans currently without coverage. The President's vision invests in energy independence and promotes a clean energy economy that creates jobs. For too long, a sustainable and clean energy policy has been ignored and our dependence on foreign oil has grown. Increasing our investment in energy efficiency and renewable energy technologies will promote America's energy independence and safeguard our environment through a reduction in greenhouse gas production. In recognition of the critical role that education plays in our economic productivity, the President's budget builds upon the classroom support provided in the Recovery Act. From enhancing Head Start and early childhood learning opportunities to making college more affordable through expanding Pell Grants, this budget will prepare our children to become productive, contributing members of the global economy. In addition, the President's vision places national defense on a sustainable course, including a 4 percent increase in defense spending for fiscal year 2010. It includes enhanced support for our veterans, finally fulfilling the duty this country owes for the service they have given. The President's vision prepares for the reauthorization of the transportation funding bill that will invest in transit and infrastructure projects throughout the country. Now I would like to confirm what is not in the concurrent resolution on the budget. Much has been made of the potential funding sources the President has listed in his blueprint. Madam Speaker, I would point out, the concurrent budget resolution that is scheduled to come before the full House does not increase taxes. In fact, it would reduce them. It simply lays the foundation for fulfilling President Obama's vision and making the critical investments in America's future. Specific tax policies will be pursued by the tax-writing committees of the Congress where I expect further modifications and hope to see elimination of the proposed caps on mortgage interest and charitable deductions. Madam Speaker, I look forward to supporting the President's budget.
RECOGNIZING 30TH ANNIVERSARY OF EGYPT-ISRAEL PEACE TREATY2009-03-30
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Mr. Speaker, I have no further requests for time at this time. I yield back the balance of my time.
Mr. CONNOLLY of Virginia. Madam Speaker, I move to suspend the rules and agree to the resolution (H. Res. 282) recognizing the 30th anniversary of the peace treaty between Egypt and Israel, as amended.
Mr. CONNOLLY of Virginia. Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and to include extraneous material on the resolution under consideration.
Mr. CONNOLLY of Virginia. I yield myself such time as I may consume. Madam Speaker, I rise in strong support of House Resolution 282, ``Recognizing the 30th Anniversary of the Peace Treaty between Egypt and Israel,'' and I commend our good friend Mr. Fortenberry for introducing it. Last week on March 26, we marked the 30th anniversary of the signing of the 1979 peace accord between Israel and Egypt, brokered and witnessed by the United States of America. The signing of that treaty remains one of the most dramatic and strategically important events of our life times. It culminated a process of peace-making that Israeli and Egyptian diplomats had begun secretly in Morocco in mid-1977. That process, Madam Speaker, was most memorably punctuated by the stunning visit of Egyptian President Anwar Sadat to Israel in November of 1977 and by the signing, subsequently, of the Camp David Peace Accords in September of 1978, laying the groundwork for the peace treaty signed 6 months later that we celebrate today with this resolution. The significance of the Egyptian-Israeli peace treaty cannot be overstated. With the signing of the treaty, Egypt became the first Arab State to recognize the state of Israel. More than that, the treaty demonstrated the dream of the Arab-Israeli peace, a dream that most experts at that time put in the ``not in my lifetime'' category, and it was, indeed, possible. In 1994, Jordan became the second Arab State to make peace with the state of Israel. Egyptian-Israeli peace has saved countless lives. Between 1948 and 1973, Egypt and Israel fought four fierce land wars, plus the 1968-1970 War of Attrition, resulting in tens of thousands of casualties. Thanks to the 1979 peace treaty, there have been no further Egyptian-Israeli wars nor have there been any wars between Israel and other Arab States since that time. Although, as we all know, Israel continues to be threatened by well-armed, non-state actors like Hamas and Hezbollah, who are used as proxies by states such as Syria and Iran. The 1979 peace treaty also extended the prospect of superpower conflict over the Arab-Israeli conflict. In 1973, the U.S. and the USSR, at that time, had gone nearly to the brink of war for the sake of their allies, Israel and Egypt respectfully. The peace treaty ensured that would never happen again, and the central diplomatic role played by the United States facilitated Egypt's transition to the pro-Western camp. This was truly the age, as one scholar has called it, of heroic diplomacy in the Middle East. President Sadat risked his career and, ultimately, his life on his bold action. Many Arab leaders accused him of treason--the Warsaw Pact states as well. Egypt was expelled at that time from the Arab League, and was not welcomed back for a decade. Just 2\1/2\ years after signing the peace treaty, Anwar Sadat was dead, the victim of an assassin's bullet. Although his murderers ascribed their actions to other motives, mainly their outlandish claim that Sadat was not a true Muslim, there is little doubt, Madam Speaker, that those who supported the assassins were deeply outraged by his peace treaty with Israel. Israeli Prime Minister Menachem Begin went against the grain of his own party by leading the fight for total withdrawal from the Sinai, which was the Egyptian price for this peace treaty. When Begin brought the treaty to the Knesset vote, he had to rely on his longtime nemesis of the Israeli left for votes, as many of his Likud Party colleagues refused to support him and the peace treaty at that time. Both Sadat and Begin richly earned the Nobel Peace Prize they won in 1978, probably the easiest decision the Nobel Peace Prize Committee ever made. President Carter, whose relentless diplomacy was critical for achieving the Camp David Accords and the peace treaty, was unquestionably yet another hero of the Egyptian-Israeli peace-making process. When President Sadat spoke before the Knesset on November 20, 1977, he asked, ``Why don't we stand together with the courage of men and the boldness of heroes who dedicate themselves to a sublime aim?'' Menachem Begin took up that challenge, and 30 years ago, those two leaders achieved the seemingly impossible, and their achievement endures yet today. Today, we honor their remarkable achievement, and we express the hopes that others in the Middle East who have not yet embraced peace will someday see the wisdom of the path and show the courage of Sadat and Begin. Madam Speaker, I strongly support this important resolution, and I urge all of my colleagues to do likewise. I reserve the balance of my time.
Mr. CONNOLLY of Virginia. Mr. Speaker, I yield 2 minutes to the gentlelady from Texas.
MAINTAINING COMMITMENT TO NATO2009-03-30
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Mr. Speaker, I have no further requests for time at this time, and I yield back the balance of my time.
Mr. CONNOLLY of Virginia. Mr. Speaker, I yield 3 minutes to our friend from Kansas (Mr. Moore).
Mr. CONNOLLY of Virginia. Mr. Speaker, I yield myself as much time as I may consume. I rise in strong support of H. Res. 152 to reaffirm American commitment to the values and aspirations of the North Atlantic Treaty Organization. Mr. Speaker, I want to particularly thank our colleague, John Tanner, our good friend from Tennessee and president of the NATO Parliamentary Assembly, for introducing this resolution. I commend him for his leadership in ensuring that the voices of legislators are heard in the decision-making process of the Alliance. The NATO PA serves as a unique transatlantic forum for generating public support for Alliance activities, as well as in facilitating dialogue between parliamentarians of member, associate and observer states. On April 3 and 4, NATO will hold its 60th anniversary summit in Strasbourg, France, and Kehl, Germany. The joint hosting of this meeting by two former adversaries poignantly symbolizes NATO's successful role in contributing to the reconstruction and stabilization of Europe following the devastation of World War II. By serving as a reminder of the peaceful prosperity that has spread across the continent since the bloody battles of the earliest 20th century, this historic summit should bolster the Alliance's commitment to confronting the new challenges that affect NATO interests values. In addition, Mr. Speaker, the world is a very different place than it was when the North Atlantic Treaty was signed in Washington, DC, on April 4, 1949, with the chief aim of deferring then-Soviet aggression. In the 20 years since the fall of the Berlin Wall, NATO has sought to aid the democratization and Euro-Atlantic integration of former Warsaw Pact foes as well as to develop more cooperative relations with the Russian Federation. NATO looks forward to welcoming the newest members of the Alliance, Albania and Croatia, at the upcoming summit. While pacing the process of enlargement, NATO remains prepared to extend invitations for accession negotiations to other European democracies meeting membership criteria. In the last decade, NATO had increasingly sought to address new risks emerging from outside the treaty area itself that can threaten Euro- Atlantic peace and security. Such challenges include terrorism, weapons of mass destruction, and disruption in the flow of emergency resources. The Alliance should begin considering a new strategic concept that takes into account the changing international security environment and outlines how to develop military capabilities accordingly. NATO's first and most significant out-of-area mission has been in Afghanistan, where the Alliance is engaged in stabilization and reconstruction efforts amidst ongoing combat operations against the Taliban. We are now embarking on a new chapter of the U.S. and NATO missions to Afghanistan, one centered around the national election for President and on defeating al Qaeda and its Taliban allies. NATO's role continues to be critical to the future success in Afghanistan, and achieving that success remains a considerable test, Mr. Speaker, of the Alliance's political will and military capabilities. It is crucial that allies remain committed to the mission, remedy shortfalls in all areas affecting successful engagement, and ensure equitable sharing of responsibilities. Mr. Speaker, the North Atlantic Treaty Organization is to be commended for its pivotal role of preserving transatlantic peace and stability over the last 60 years. I strongly support this resolution and urge my colleagues to do the same. I reserve the balance of my time.
Mr. CONNOLLY of Virginia. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on the resolution under consideration.
Mr. CONNOLLY of Virginia. Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 152) expressing the sense of the House of Representatives that the United States remains committed to the North Atlantic Treaty Organization (NATO), as amended.
FEDERAL LAND ASSISTANCE, MANAGEMENT AND ENHANCEMENT ACT2009-03-26
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Mr. Chairman, I thank my colleague. This amendment adds a single element to section 3 of the FLAME Act, directing the Secretaries of Interior and Agriculture to develop a cohesive wildland fire management strategy. As my colleague from New Mexico just indicated, invasive species really can be very destructive and, frankly, affect every part of the United States. For example, the gypsy moth defoliates and kills oak trees throughout the Northeast and Mid-Atlantic. In my own region, the hemlock wooly adelgid has a similar range, but it infects and kills Eastern and Carolina hemlocks. Ninety percent of all of the hemlock trees in Virginia have been killed by this pest, and it is spreading, and it is spreading from the Southeast toward the Northeast and the Midwest. The southern pine beetle defoliates vast stands of pines in the South, wreaking havoc and creating tinderboxes in dry conditions. The Forest Service recognizes these fire hazards. In 2002, in a report about the western bark beetle, the agency said that, ``Extreme fuel loads pose a significant threat to property and life,'' and, ``Mortality caused by bark beetles increases the risk of catastrophic fires.'' This fire hazard is not limited to Western States. The Daniel Boone National Forest national managers, for example, said they ``are concerned about the debris from dead and dying trees that are now covering the forest floor. This debris dramatically increases the fuel load in these areas, which may create severe conditions in the event of a wildfire.'' Since invasive species can create conditions under which large fires are much more likely, it would be appropriate to try to prevent these hazardous fuels from accumulating by suppressing the pest in the first place. I am delighted to join in this amendment. I thank my colleague from New Mexico and in advance my colleague from Colorado for joining in this effort, and I look forward to its adoption.
AMERICAN RECOVERY AND REINVESTMENT ACT OF 20092009-03-24
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. I rise today to highlight the critical investments in America made by this Congress and by the Obama administration through the American Recovery and Reinvestment Act of 2009 to turn our economy around. We are embroiled in the worst economic crisis since the Great Depression. Our economy remains in a recession that dates back to December, 2007. Our gross domestic product decreased 6.2 percent in the fourth quarter of last year. Housing prices have declined for 24 consecutive months. Unemployment is at a 25-year high--and rising. More than 4.4 million Americans lost their jobs, including a staggering 651,000 jobs lost last month. In my district, one of the wealthiest in the Nation, applications for food stamps increased 79 percent over the previous year. In the past 12 months, Americans have lost 4 years of wealth, upending the carefully planned retirement strategies for millions of our fellow Americans. Over the next 2 years, if we do nothing, as some propose, our economy and the American people will suffer an estimated $2 trillion in lost potential, lost productivity, and lost earnings. We know the price of inaction. The last 8 years left us a dire legacy we won't soon forget: Trillions of dollars of budget surpluses squandered; critical infrastructure repairs and improvements ignored; alternative energy research and development placed on the back burner; regulations neutered and the financial sector allowed to run amok; poverty ignored and allowed to grow; middle-class Americans saw their purchasing power decline dramatically while a privileged few saw theirs grow and soar; and millions of jobs and trillions of dollars of economic progress lost. Mr. Speaker, we can no longer afford the inaction of the last 8 years. That's why this Congress acted, in concert with President Obama, to pass the American Recovery and Reinvestment Act. It was a bold stroke to put people back to work and make critical investments in our Nation's infrastructure that have been so neglected in the last 8 years. We acted to ensure the future prosperity of our country. The Recovery Act will save or create 3.5 million jobs, including 9,300 in my own district, and provide needed investment in education, energy independence, health care reform, transportation, infrastructure, and tax relief for the middle class. While no one action we can take will instantly fix all of our economic troubles, our investments are showing progress. Thanks to the Recovery Act, shovel-ready projects throughout the Nation are breaking ground, putting people to work planning, constructing, and managing these projects. Highway construction projects nationwide receive $30 billion, with an additional investment of $10 billion in transit and rail projects. Thanks to the Recovery Act, those firms that were in fact put out of business or had to delay work are now being put back to work and putting people back to work repairing and improving roads and bridges, building schools, modernizing street light systems and water treatment plants, and building many other needed but neglected capital projects in my district and across the Nation. These are real jobs building real projects that are helping real Americans. In the 4 weeks since the legislation was signed into law, Mr. Speaker, $175 billion has already been allocated, including $77 billion for education throughout the country, $27 billion for highways, and $15 billion in new Medicaid funding badly needed by our States. The economic crisis has caused shortfalls for virtually every State and local government in the Nation. Our State and municipal governments are among the country's largest economic engines, performing everyday functions that Americans rely on daily, from public safety, to public health, to local education, to public libraries. The Recovery Act provided $53 billion in State stabilization funding badly needed by our States that are hemorrhaging red ink right now. Specifically, the investment in education, for example, will pay immediate long-term dividends for our economy. Enhanced educational support includes $40 billion for local school districts and $21 billion for higher education, and will create increasing opportunities to prepare our children to enter the workforce. In addition, our investments in education are paying off immediately by stemming the loss of tens of thousands of jobs for teachers and custodians and bus drivers and nurse's aides and teacher's aides all across school districts in the United States. One of the primary drivers for economic recovery will be our investment in the technology field as well, Mr. Speaker. The world is changing and it's critical America stay at the forefront. In order to reduce our reliance on foreign oil, we will move towards a cleaner, greener economy. The stimulus addresses both of these areas. The Recovery Act provided $30 billion to transform our existing energy systems and $8 billion in weatherization and energy efficiency funds that will create 87,000 new jobs weatherizing 2 million households across the United States. The cost of health care continues to rise dramatically, Mr. Speaker, and it's incumbent upon us to reduce costs without harming existing coverage. The Recovery Act included almost $20 billion to accelerate the switch to health information technology systems by doctors and hospitals to modernize health care systems. It's estimated that this reform ultimately will yield an annual saving of $77 billion in health care costs to average Americans all across the country. This act is only one piece of the economic mosaic, and I know it's going to succeed.
RECOGNIZING ZEIDERS ENTERPRISES CELEBRATING TWENTY-FIVE YEARS OF BUSINESS2009-03-23
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Madam Speaker, I rise today to recognize the contributions of Zeiders Enterprises over the 25 years since its founding in Prince William County, Virginia. The more than 700 staff members of Zeiders Enterprises provide services and assistance to more than 1.5 million military and family members at nearly 50 military installations worldwide each year. Zeiders employees serve in crucial roles as clinical counselors, victim advocates, new parent support specialists, financial counselors, transition specialists, and relocation specialists. Through these activities, Zeiders Enterprises has made a direct, positive difference in the lives of individuals, families, their communities, and the organizations in which they serve. Especially noteworthy is the role that Zeiders plays in supporting the special needs of military service members and their families. Zeiders Enterprises is a founding sponsor of The Quality of Life Foundation, whose mission is to honor and serve our severely injured combat service members and their families by helping them face the life-changing challenges unique to their situations. Employees at Zeiders contribute outside the workplace through extensive volunteer service. This volunteer support of the American Red Cross, Peace Corps, local schools, youth development programs, mentoring programs, victim advocate programs, youth sports programs, community orchestras, volunteer fire and rescue departments, and military service in National Guard and Reserve occurs in Prince William County, Virginia, and across the nation where Zeiders employees live and work. The consistent contributions of Zeiders employees to the communities in which they serve are truly impressive. A culture of public services emanates from the top of the Zeiders Enterprises organization. Michael Zeiders, president and CEO, serves the citizens of Prince William County and Virginia as an active member of both the Northern Virginia Workforce Investment Board and the SkillSource Group Board. Under his leadership, Zeiders Enterprises is an active partner in the community. Additionally, Mr. Zeiders has supported families of Wounded Warriors nationwide through the Quality of Life Foundation. Madam Speaker, I ask my colleagues to join with me today to congratulate Zeiders Enterprises on its 25th anniversary and to pay tribute to the significant contributions its employees have made in improving the lives of our brave men and women who serve this great country.
FEDERAL MUNICIPAL BOND MARKETING SUPPORT AND SECURITIZATION ACT OF 20092009-03-23
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Madam Speaker, today I introduced the Federal Municipal Bond Marketing Support and Securitization Act of 2009 to address the collateral damage suffered by our state and local governments as a result of the financial crisis. The nation's 55,000 issuers of tax-exempt bonds, including most state and local governments, continue to experience limited access to the capital markets due to the liquidity crisis despite the fact that municipal bonds have always been among the safest investments. A municipal bond expert recently told me, pointedly, that it is a nightmare out there for those entities attempting to float bonds. Prior to my election to Congress last November, I spent the last 14 years in local government as a member of the Board of Supervisors of Fairfax County, Virginia, the last five as Chairman. I oversaw a local government with an annual budget of $4.5 billion and a AAA rating from Wall Street's three main credit rating agencies. I understand state and local governments, and I believe they are the most effective engines for creating jobs on Main Street, whether by building new schools, fire stations and water treatment plants, or repairing our nation's ailing infrastructure and implementing our environmental agenda. State and local governments issue debt for their myriad projects through the selling of bonds, and the municipal bond market was one of many victims of the financial meltdown last fall. After the fallout, investors and money fled from those bond markets to U.S. Treasury notes as a safe haven. As a result, the nation's 55,000 issuers of tax-exempt bonds, our state and local governments, are experiencing limited access to the capital markets due to the liquidity crisis despite the fact that ``munis'' are and always have been among the safest of investments. Further complicating the issue is the fact that the private insurance market has virtually disappeared, eliminating a viable means of credit enhancement, which allows a small town water authority, for example, to attain the same credit-worthiness as a metropolitan transportation authority. The drying up of bond markets and lack of insurance has created a double-whammy of steep shortfalls and tough financial choices for state and local governments. In light of this fiscal and capital crisis, legislation is needed to direct the Secretary of the Treasury to establish a program to provide direct credit enhancements or insurance for municipal bonds to help our state and local partners move forward on their shovel-ready projects. House Financial Services Committee Chairman Barney Frank agreed with me during a colloquy on the subject in mid-January in which he called states and municipalities among the most sympathetic victims of the economic turmoil. Since then, I have been consulting with Chairman Frank, my colleagues, municipal governments and others who are active in the municipal bond market to craft a solution. What I proposed today may not provide the ultimate solution, but it provides a starting point to begin addressing this critical situation. My legislation directs the Secretary of the Treasury and Federal Reserve Board to work together to strategically intervene in the municipal bond market to restore liquidity and spark local job creation. It gives the Treasury Secretary the authority, either directly or through the Federal Financing Bank, to provide credit enhancements or guarantees or to outright purchase municipal bonds. It calls on the Federal Reserve to exercise its authority to establish a credit facility for the express purpose of assisting our local and state partners. Of course, the method, source, timing and conditions of any new financing arrangement would be subject to Treasury's approval. The federal government historically has been reluctant to interfere with the municipal markets, but I believe such concerns could be addressed by imposing some reasonable limits and conditions on the nature and amount of assistance to minimize risk. Furthermore, municipal bonds historically have a solid performance rating with a low rate of default. A basic measure for the public to have confidence that the recovery and reinvestment package is working will be the creation of jobs and the completion of physical projects. President Obama has set the goal of creating three to four million jobs. Unlike the financial services relief plan, in which the reward for our investment was largely unseen by the general public, expectations are high for tangible results-- paychecks and progress--from this stimulus plan. It is my firm belief that the primary vehicle for delivering on that promise will be our investments in state and local governments, but we first need to ensure that localities are ready to run with the ball once we make the hand-off. That will require immediate federal action to stabilize their fiscal situation and to revive the municipal bond market. I believe this bill can help stabilize the municipal bond market, and I look forward to working with Chairman Frank and other interested members in finding a solution to this serious problem.
LANCE CORPORAL DREW W. WEAVER POST OFFICE BUILDING2009-03-23
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Mr. Speaker, I demand a recorded vote.
EXTENSION OF METRORAIL'S ORANGE, YELLOW, BLUE, AND PURPLE LINES2009-03-19
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Madam Speaker, I rise today to introduce legislation to authorize extension of Metrorail's Orange, Yellow, Blue, and Purple lines. I appreciate Mr. Jim Moran's co-sponsorship of this legislation. I represent a district with the fourth worst congestion in the country. These traffic conditions diminish the economic productivity of our region while contributing to climate change. While the local Board of Supervisors has worked to transform land use patterns in order to focus development around Metro stations, we only have five Metro stations in Fairfax County and thus have limited capacity to encourage Transit Oriented Development. In Prince William County, there are no Metrorail stations, and my constituents in Prince William must confront congestion nearly every day on their way to work. Fortunately, both Prince William and Fairfax County are served by the Virginia Railway Express. This commuter rail service is filled to capacity on a daily basis, as is the Metrorail system in Northern Virginia, suggesting a pressing need to expand transit service. The Metrorail extensions that I have proposed would enhance transit service in the I495, I95, and I66 corridors. Residents of Centreville, Lorton, Woodbridge, and other communities that currently lack Metrorail access would have the option to commute on Metro, which would enhance the quality of life of my constituents while stabilizing housing values and reducing greenhouse gas emissions. During the present economic crisis, homes in Northern Virginia that are located near transit have maintained their value relative to homes only served by highways. For the sake of communities that are threatened by extremely high rates of foreclosure, extension of transit service can be a force for economic revitalization. This proposed extension of transit service is consistent with local government policies. For example, the Fairfax County Board of Supervisors supports extension of Metrorail in the I66 corridor and in the I95 corridor. This legislation is crafted to give local governments flexibility in locating the stations and determining what type of rail infrastructure to construct. This flexibility is essential to ensure that these transit extensions reflect the needs of Northern Virginia residents and to ensure that we maximize the economic development potential inherent in these Metrorail extensions. I am proud to offer this legislation that may create the opportunity for our local, state, and federal levels of government to collaborate on extension of transit service. This legislation is essential for the long term vitality of Northern Virginia's economy, neighborhoods, and environment.
HONORING THE PRINCE WILLIAM COUNTY DEPARTMENT OF FIRE AND RESCUE2009-03-19
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Madam Speaker, it is my great honor to rise today to recognize an outstanding group of public servants in Northern Virginia. These individuals have demonstrated superior dedication to public safety and have been awarded the prestigious Valor Award by the Prince William County Regional Chamber of Commerce. It is with great pride that I submit into the Record the names of the recipients of the 2009 Valor Awards serving in the Prince William County Department of Fire and Rescue. Recipients of the Lifesaving Award: Technician Robert McParland, Technician Nicholas Feliciano, Technician Ryan Kirk, Technician Michael Hendrickson, Technician Walter Hunt, Technician Scott Coloe, Technician Brennan Gilligan, Technician Victor Vega. Recipient of the Silver Valor Award: Technician Michael Anthony. Madam Speaker, I would like to take this opportunity to thank all of the men and women who serve in the Prince William County Department of Fire and Rescue. Their efforts, made on behalf of the citizens of Prince William County, are selfless acts of heroism and truly merit our highest praise. I ask my colleagues to join me in applauding these remarkable individuals.
HONORING THE PRINCE WILLIAM-MANASSAS REGIONAL ADULT DETENTION CENTER2009-03-19
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Madam Speaker, it is my great honor to rise today to recognize two outstanding public servants in Northern Virginia. These individuals have demonstrated superior dedication to public safety and have been awarded the prestigious Valor Award by the Prince William County Regional Chamber of Commerce. It is with great pride that I submit into the Record the names of the recipients of the 2009 Valor Awards serving in the Prince William- Manassas Regional Adult Detention Center. Recipient of the Merit Award: Master Jail Officer Brian Daily Recipient of the Silver Valor Award: Jail Officer Chester Outland Madam Speaker, I would like to take this opportunity to thank all of the men and women who serve in the Prince William-Manassas Regional Adult Detention Center. Their efforts, made on behalf of the citizens of Prince William County, are selfless acts of heroism and truly merit our highest praise. I ask my colleagues to join me in applauding these remarkable individuals.
FOOD SAFETY IN RETIREMENT COMMUNITIES2009-03-19
Mr. CONNOLLY of Virginia
Mr. CONNOLLY of Virginia. Madam Speaker, I rise today to introduce legislation to ensure that food served in nursing homes is safe and nutritious. Recently a constituent from my district visited me to discuss food safety and nutrition in nursing homes. He is a Director of Dining Services at a nursing home in Prince William County. Based on his experience, he suggested that requiring Medicare and Medicaid food service facilities, like nursing homes, to have Certified Dietary Managers or qualified dieticians as food service managers would ensure that food served in these facilities is safe and nutritious. The legislation I have introduced today would require that Medicare and Medicaid food service facilities have either a qualified dietician or Certified Dietary Manager as director of food services. A qualified dietician has four years of training in college, and a Certified Dietary Manager must complete a rigorous food preparation program. This is a commonsense requirement to ensure that senior citizens have safe food, and is particularly important as our population ages. I would like to emphasize that this proposal came from a local business, and has the support of other companies that operate nursing homes in my district. I am pleased to have the opportunity to work with our partners in the business community to introduce this legislation, which could help protect the health of seniors across the country.