Jeb Hensarling

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I thank the gentleman for yielding, but more importantly, I thank him for his leadership, and I thank him for standing up for so many of the downtrodden, the low- and moderate- income Americans from sea to shining sea who want to realize some piece of the American Dream--they want to own a home. Now, maybe it is not going to be quite as nice as a home that some Member of Congress might live in, you know, but it is going to be their home. In this case, it is going to be a manufactured home. I can say for many of the people who live, Mr. Speaker, in the Fifth District of Texas, if it weren't for manufactured housing, they wouldn't have a house. As the gentleman from Tennessee so eloquently said as this legislation was being marked up in our committee, there are so many on the left and the far left who want to protect consumers right out of their homes. That is shameful, Mr. Speaker. It is absolutely shameful. They should have the same equal opportunity to own a home as any Member of this body, and yet my friends on the other side of the aisle would take it away from them. No, they have got a bumper sticker slogan here. You know, they have got Dodd-Frank; we are going to aim at Wall Street. But when they aim at Wall Street, they are hitting Main Street. They are hitting Main Street, and low- and moderate-income Americans are suffering. We have bank after bank after bank after credit union after credit union, we are talking community financial institutions who are saying, without the legislation of the gentleman from Tennessee, they have got to get out of the business. You know what that means, Mr. Speaker? It means people lose their opportunity to own that first home, which might just be a manufactured house. First Arkansas Bank and Trust, we heard from them: Our bank has a long history of helping consumers, especially those who, for some reason, cannot qualify for secondary market financing at the time. Due to the fact that this type of financing is now overly burdened by the qualified mortgage standards, we have ceased this type of financing. I heard from the Central Maine Credit Union. And, by the way, we haven't mentioned Goldman Sachs and J.P. Morgan. No, these are community financial institutions, Mr. Speaker. I am sorry. This comes from Five County Credit Union: Since October of 2010, Five County has no longer been offering mobile home loans to its members due to the Federal legislation. First National Bank of Milaca. I hope I am pronouncing this right, but given that it isn't a money center bank on Wall Street, we are a little less familiar with its name. This is in Minnesota. The high price mortgage rules have caused my bank to reduce the number of real estate mortgages we make on certain type houses, specifically mobile homes. I could go on and on. I have got a stack of these, Mr. Speaker. That is why the gentleman from Tennessee, with his able leadership, has brought forth legislation--bipartisan legislation, I might add; bipartisan, almost half of the Democrats on our committee supported it. The ranking member supported it before she was against it. I don't quite understand the change of mind. The need is still as great. People are still suffering. The low- and moderate-income Americans have been falling behind. Here is a chance to let them have an opportunity to get into a mobile home. But, no, no, no, no, no, we have got a Wall Street bumper sticker slogan here, and it doesn't matter who is going to get hurt. Well, it does matter. It matters a lot, Mr. Speaker. We need to ensure that every American, regardless of their income, in a competitive, transparent, innovative capital market, that they have the opportunity to finance that mobile home. Every American should have that opportunity.

Mr. HENSARLING. Every single American should have that opportunity, and it is the gentleman from Tennessee who is hearing their voices and is representing their voices on the House floor today. Again, I want to thank him for his leadership and thank him for the thousands and thousands across the Fifth District of Texas that I have the privilege and honor of representing that, just because they are low income, he knows--he knows--they still deserve that chance for the American Dream. He is fighting for their American Dream. This was compromise language, Mr. Speaker. This is not the bill I wanted; it is not the bill he wanted. It was compromise language. In fact, the ranking member supported even a broader provision in the previous Congress. But what has happened is, yet again, the left hand doesn't always know what the far left hand is doing; and the far left hand has decided that all of a sudden we are going to aim at Wall Street banks, and it doesn't matter if any person working at a Walmart or working at a Whataburger loses their chance at the American Dream. That has to stop. We need to support the legislation of the gentleman from Tennessee. I urge the House to adopt it.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I claim the time in opposition to the gentlewoman's motion.

Mr. HENSARLING. Mr. Speaker, I withdraw my reservation of a point of order.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I submit for publication the attached copy of the rules of the Committee on Financial Services of the U.S. House of Representatives as adopted on January 14, 2015, for the 114th Congress: Rule 1 General Provisions (a) The rules of the House are the rules of the Committee on Financial Services (hereinafter in these rules referred to as the ``Committee'') and its subcommittees so far as applicable, except that a motion to recess from day to day, and a motion to dispense with the first reading (in full) of a bill or resolution, if printed copies are available, are privileged motions in the Committee and shall be considered without debate. A proposed investigative or oversight report shall be considered as read if it has been available to the members of the Committee for at least 24 hours (excluding Saturdays, Sundays, or legal holidays except when the House is in session on such day). (b) Each subcommittee is a part of the Committee, and is subject to the authority and direction of the Committee and to its rules so far as applicable. (c) The provisions of clause 2 of rule XI of the Rules of the House are incorporated by reference as the rules of the Committee to the extent applicable. Rule 2 Meetings Calling of Meetings (a)(1) The Committee shall regularly meet on the first Tuesday of each month when the House is in session. (2) A regular meeting of the Committee may be dispensed with if, in the judgment of the Chairman of the Committee (hereinafter in these rules referred to as the ``Chair''), there is no need for the meeting. (3) Additional regular meetings and hearings of the Committee may be called by the Chair, in accordance with clause 2(g)(3) of rule XI of the Rules of the House. (4) Special meetings shall be called and convened by the Chair as provided in clause 2(c)(2) of rule XI of the Rules of the House. Notice for Meetings (b)(1) The Chair shall notify each member of the Committee of the agenda of each regular meeting of the Committee at least three calendar days (excluding Saturdays, Sundays, and legal holidays except when the House is in session on any such day) before the time of the meeting. (2) The Chair shall provide to each member of the Committee, at least three calendar days (excluding Saturdays, Sundays, and legal holidays except when the House is in session on any such day) before the time of each regular meeting for each measure or matter on the agenda a copy of-- (A) the measure or materials relating to the matter in question; and (B) an explanation of the measure or matter to be considered, which, in the case of an explanation of a bill, resolution, or similar measure, shall include a summary of the major provisions of the legislation, an explanation of the relationship of the measure to present law, and a summary of the need for the legislation. (3) At least 24 hours prior to the commencement of a meeting for the markup of legislation, the Chair shall cause the text of such legislation to be made publicly available in electronic form. (4) The provisions of this subsection may be waived by a two-thirds vote of the Committee or by the Chair with the concurrence of the ranking minority member. Rule 3 Meeting and Hearing Procedures In General (a)(1) Meetings and hearings of the Committee shall be called to order and presided over by the Chair or, in the Chair's absence, by a member designated by the Chair to carry out such duties. (2) Meetings and hearings of the committee shall be open to the public unless closed in accordance with clause 2(g) of rule XI of the Rules of the House. (3) Any meeting or hearing of the Committee that is open to the public shall be open to coverage by television broadcast, radio broadcast, and still photography in accordance with the provisions of clause 4 of rule XI of the Rules of the House (which are incorporated by reference as part of these rules). Operation and use of any Committee operated broadcast system shall be fair and nonpartisan and in accordance with clause 4(b) of rule XI and all other applicable rules of the Committee and the House. (4) To the extent feasible, members and witnesses may use the Committee equipment for the purpose of presenting information electronically during a meeting or hearing, provided the information is transmitted to the appropriate Committee staff in an appropriate electronic format at least one business day before the meeting or hearing so as to ensure display capacity and quality. The content of all materials must relate to the pending business of the Committee and conform to the Rules of the House. The confidentiality of the material will be maintained by the technical staff until its official presentation to the Committee members. For the purposes of maintaining the official records of the Committee, printed copies of all materials presented, to the extent practicable, must accompany the presentations. (5) No person, other than a Member of Congress, Committee staff, or an employee of a Member when that Member has an amendment under consideration, may stand in or be seated at the rostrum area of the Committee rooms unless the Chair determines otherwise. Quorum (b)(1) For the purpose of taking testimony and receiving evidence, two members of the Committee shall constitute a quorum. (2) A majority of the members of the Committee shall constitute a quorum for the purposes of reporting any measure or matter, of authorizing a subpoena (other than a subpoena authorized and issued by the Chair pursuant to subsection (e)(1)), of closing a meeting or hearing pursuant to clause 2(g) of rule XI of the Rules of the House (except as provided in clause 2(g)(2)(A) and (B)) or of releasing executive session material pursuant to clause 2(k)(7) of rule XI of the Rules of the House. (3) For the purpose of taking any action other than those specified in paragraph (2), one-third of the members of the Committee shall constitute a quorum. Voting (c)(1) No vote may be conducted on any measure or matter pending before the Committee unless the requisite number of members of the Committee is actually present for such purpose. (2) A record vote of the Committee shall be provided on any question before the Committee upon the request of one-fifth of the members present. (3) No vote by any member of the Committee on any measure or matter may be cast by proxy. (4) In addition to any other requirement of these rules or the Rules of the House, including clause 2(e)(1)(B) of rule XI, the Chair shall make the record of the votes on any question on which a record vote is demanded publicly available for inspection at the offices of the Committee and in electronic form on the Committee's Web site not later than one business day after such vote is taken. Such record shall include in electronic form the text of the amendment, motion, order, or other proposition, the name of each member voting for and each member voting against such amendment, motion, order, or proposition, and the names of those members of the Committee present but not voting. With respect to any record vote on any motion to report or record vote on any amendment, a record of such votes shall be included in the report of the Committee showing the total number of votes cast for and against and the names of those members of the Committee present but not voting. (5) Postponed Record Votes.--(A) Subject to subparagraph (B), the Chairman may postpone further proceedings when a record vote is ordered on the question of approving any measure or matter or adopting an amendment. The Chairman may resume proceedings on a postponed request at any time, but no later than the next meeting day. (B) In exercising postponement authority under subparagraph (A), the Chairman shall take all reasonable steps necessary to notify members on the resumption of proceedings on any postponed record vote. (C) When proceedings resume on a postponed question, notwithstanding any intervening order for the previous question, an underlying proposition shall remain subject to further debate or amendment to the same extent as when the question was postponed. (D) The Chair's authority to postpone recorded votes will not be used to prejudice a member with regard to the offering of another amendment. In the application of this rule, the Chair will consult regularly with the ranking minority member regarding the scheduling of the resumption of postponed votes. Hearing Procedures (d)(1)(A) The Chair shall make public announcement of the date, place, and subject matter of any committee hearing at least one week before the commencement of the hearing, unless the Chair, with the concurrence of the ranking minority member, or the Committee by majority vote with a quorum present for the transaction of business, determines there is good cause to begin the hearing sooner, in which case the Chair shall make the announcement at the earliest possible date. (B) Not less than three days before the commencement of a hearing (excluding Saturdays, Sundays, and legal holidays except when the House is in session on any such day) announced under this paragraph, the Chair shall provide to the members of the Committee a concise summary of the subject of the hearing, or, in the case of a hearing on a measure or matter, a copy of the measure or materials relating to the matter in question and a concise explanation of the measure or matter to be considered. At the same time the Chair provides the information required by the preceding sentence, the Chair shall also provide to the members of the Committee a list of the witnesses expected to appear before the Committee at that hearing. The witness list may not be modified within 24 hours of a hearing, unless the Chair, with the concurrence of the ranking minority member, determines there is good cause for such modification. (2) To the greatest extent practicable-- (A) each witness who is to appear before the Committee shall file with the Committee two business days in advance of the appearance sufficient copies (including a copy in electronic form), as determined by the Chair, of a written statement of proposed testimony and shall limit the oral presentation to the Committee to brief summary thereof; and (B) each witness appearing in a non-governmental capacity shall include with the written statement of proposed testimony a curriculum vitae and a disclosure of the amount and source (by agency and program) of any Federal grant (or subgrant thereof) or contract (or subcontract thereof) received during the current fiscal year or either of the two preceding fiscal years. Such disclosure statements, with appropriate redactions to protect the privacy of the witness, shall be made publicly available in electronic form not later than one day after the witness appears. (3) The requirements of paragraph (2)(A) may be modified or waived by the Chair when the Chair determines it to be in the best interest of the Committee. (4)(A) Subject to subparagraph (B), the five-minute rule shall be observed in the interrogation of witnesses before the Committee or any of its subcommittees until each present member thereof has had an opportunity to question the witnesses. No member shall be recognized for a second period of five minutes to interrogate witnesses until each present member of the Committee or such subcommittee has been recognized once for that purpose. (B) The Chair may permit a specified number of members to question one or more witnesses for a specified period of time not to exceed 60 minutes in the aggregate, equally divided between and controlled by the Chair and the ranking minority member. (5) Whenever any hearing is conducted by the Committee on any measure or matter, the minority party members of the Committee shall be entitled, upon the request of a majority of them before the completion of the hearing, to call witnesses with respect to that measure or matter during at least one day of hearing thereon. The Chair, with the concurrence of the ranking minority member, will determine the date, time, and place of such hearing. (6) At any hearing of the Committee, opening statements by members of the Committee shall be limited to 10 minutes in the aggregate. The Chair shall control five minutes and recognize members in the Chair's sole discretion. The ranking minority member shall control five minutes; the Chair shall recognize members for such five minutes according to the direction of the ranking minority member as communicated to the Chair. (7) Notwithstanding any member's oral delivery of an opening statement, written opening statements by any member of the Committee submitted to the Chair within 5 legislative days after the adjournment of a hearing shall be made a part of the official hearing record thereof. Subpoenas and Oaths (e)(1) The power to authorize and issue subpoenas is delegated to the Chair. The Chair will provide written notice to the ranking minority member at least 48 hours in advance of the authorization and issuance of a subpoena, except when exigent circumstances exist that do not permit such amount of notice, in which case the Chair shall provide such notice as soon as possible. (2) Authorized subpoenas shall be signed by the Chair or by any member designated by the Committee, and may be served by any person designated by the Chair or such member. (3) The Chair, or any member of the Committee designated by the Chair, may administer oaths to witnesses before the Committee. Rule 4 Procedures for Reporting Measures or Matters (a) No measure or matter shall be reported from the Committee unless a majority of the Committee is actually present. (b) The Chair of the Committee shall report or cause to be reported promptly to the House any measure approved by the Committee and take necessary steps to bring a matter to a vote. (c) The report of the Committee on a measure which has been approved by the Committee shall be filed within seven calendar days (exclusive of days on which the House is not in session) after the day on which there has been filed with the clerk of the Committee a written request, signed by a majority of the members of the Committee, for the reporting of that measure pursuant to the provisions of clause 2(b)(2) of rule XIII of the Rules of the House. (d) All reports printed by the Committee pursuant to a legislative study or investigation and not approved by a majority vote of the Committee shall contain the following disclaimer on the cover of such report: ``This report has not been officially adopted by the Committee on Financial Services and may not necessarily reflect the views of its Members.'' (e) The Chair is directed to offer a motion under clause 1 of rule XXII of the Rules of the House whenever the Chair considers it appropriate. Rule 5 Subcommittees Establishment and Responsibilities of Subcommittees (a)(1) There shall be five subcommittees of the Committee as follows: (A) Subcommittee on capital markets and government sponsored enterprises.--The jurisdiction of the Subcommittee on Capital Markets and Government Sponsored Enterprises includes-- (i) securities, exchanges, and finance; (ii) capital markets activities, including business capital formation and venture capital; (iii) activities involving futures, forwards, options, and other types of derivative instruments; (iv) the Securities and Exchange Commission; (v) secondary market organizations for home mortgages, including the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Agricultural Mortgage Corporation; (vi) the Federal Housing Finance Agency; and (vii) the Federal Home Loan Banks. (B) Subcommittee on financial institutions and consumer credit.--The jurisdiction of the Subcommittee on Financial Institutions and Consumer Credit includes-- (i) all agencies, including the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Federal Reserve System, and the National Credit Union Administration, which directly or indirectly exercise supervisory or regulatory authority in connection with, or provide deposit insurance for, financial institutions, and the establishment of interest rate ceilings on deposits; (ii) all matters related to the Bureau of Consumer Financial Protection; (iii) the chartering, branching, merger, acquisition, consolidation, or conversion of financial institutions; (iv) consumer credit, including the provision of consumer credit by insurance companies, and further including those matters in the Consumer Credit Protection Act dealing with truth in lending, extortionate credit transactions, restrictions on garnishments, fair credit reporting and the use of credit information by credit bureaus and credit providers, equal credit opportunity, debt collection practices, and electronic funds transfers, including consumer transactions using mobile devices; (v) creditor remedies and debtor defenses, Federal aspects of the Uniform Consumer Credit Code, credit and debit cards, and the preemption of State usury laws; (vi) consumer access to financial services, including the Home Mortgage Disclosure Act and the Community Reinvestment Act; (vii) the terms and rules of disclosure of financial services, including the advertisement, promotion and pricing of financial services, and availability of government check cashing services; (viii) deposit insurance; and (ix) consumer access to savings accounts and checking accounts in financial institutions, including lifeline banking and other consumer accounts. (C) Subcommittee on housing and insurance.--The jurisdiction of the Subcommittee on Housing and Insurance includes-- (i) insurance generally; terrorism risk insurance; private mortgage insurance; government sponsored insurance programs, including those offering protection against crime, fire, flood (and related land use controls), earthquake and other natural hazards; the Federal Insurance Office; (ii) housing (except programs administered by the Department of Veterans Affairs), including mortgage and loan insurance pursuant to the National Housing Act; rural housing; housing and homeless assistance programs; all activities of the Government National Mortgage Association; housing construction and design and safety standards; housing-related energy conservation; housing research and demonstration programs; financial and technical assistance for nonprofit housing sponsors; housing counseling and technical assistance; regulation of the housing industry (including landlord/tenant relations); and real estate lending including regulation of settlement procedures; (iii) community development and community and neighborhood planning, training and research; national urban growth policies; urban/rural research and technologies; and regulation of interstate land sales; and (iv) the qualifications for and designation of Empowerment Zones and Enterprise Communities (other than matters relating to tax benefits). (D) Subcommittee on monetary policy and trade.--The jurisdiction of the Subcommittee on Monetary Policy and Trade includes-- (i) financial aid to all sectors and elements within the economy; (ii) economic growth and stabilization; (iii) defense production matters as contained in the Defense Production Act of 1950, as amended; (iv) domestic monetary policy, and agencies which directly or indirectly affect domestic monetary policy, including the effect of such policy and other financial actions on interest rates, the allocation of credit, and the structure and functioning of domestic financial institutions; (v) coins, coinage, currency, and medals, including commemorative coins and medals, proof and mint sets and other special coins, the Coinage Act of 1965, gold and silver, including the coinage thereof (but not the par value of gold), gold medals, counterfeiting, currency denominations and design, the distribution of coins, and the operations of the Bureau of the Mint and the Bureau of Engraving and Printing; (vi) development of new or alternative forms of currency; (vii) multilateral development lending institutions, including activities of the National Advisory Council on International Monetary and Financial Policies as related thereto, and monetary and financial developments as they relate to the activities and objectives of such institutions; (viii) international trade, including but not limited to the activities of the Export-Import Bank; (ix) the International Monetary Fund, its permanent and temporary agencies, and all matters related thereto; and (x) international investment policies, both as they relate to United States investments for trade purposes by citizens of the United States and investments made by all foreign entities in the United States. (E) Subcommittee on oversight and investigations.--The jurisdiction of the Subcommittee on Oversight and Investigations includes-- (i) the oversight of all agencies, departments, programs, and matters within the jurisdiction of the Committee, including the development of recommendations with regard to the necessity or desirability of enacting, changing, or repealing any legislation within the jurisdiction of the Committee, and for conducting investigations within such jurisdiction; and (ii) research and analysis regarding matters within the jurisdiction of the Committee, including the impact or probable impact of tax policies affecting matters within the jurisdiction of the Committee. (2) In addition, each such subcommittee shall have specific responsibility for such other measures or matters as the Chair refers to it. (3) Each subcommittee of the Committee shall review and study, on a continuing basis, the application, administration, execution, and effectiveness of those laws, or parts of laws, the subject matter of which is within its general responsibility. Referral of Measures and Matters to Subcommittees (b)(1) The Chair shall regularly refer to one or more subcommittees such measures and matters as the Chair deems appropriate given its jurisdiction and responsibilities. In making such a referral, the Chair may designate a subcommittee of primary jurisdiction and subcommittees of additional or sequential jurisdiction. (2) All other measures or matters shall be subject to consideration by the full Committee. (3) In referring any measure or matter to a subcommittee, the Chair may specify a date by which the subcommittee shall report thereon to the Committee. (4) The Chair, in his or her sole discretion, may discharge a subcommittee from consideration of any measure or matter referred to a subcommittee of the Committee. Composition of Subcommittees (c)(1) Members shall be elected to each subcommittee and to the positions of chair and ranking minority member thereof, in accordance with the rules of the respective party caucuses. The Chair of the Committee shall designate a member of the majority party on each subcommittee as its vice chair. The Chair may designate one member of the Committee who previously has served as the chairman of the Committee as the Chairman Emeritus. (2) The Chair and ranking minority member of the Committee shall be ex officio members with voting privileges of each subcommittee of which they are not assigned as members and may be counted for purposes of establishing a quorum in such subcommittees. The Chairman Emeritus shall be an ex officio member without voting privileges of each subcommittee to which he or she is not assigned and shall not count for purposes of establishing a quorum in such subcommittees. (3) The subcommittees shall be comprised as follows: (A) The Subcommittee on Capital Markets and Government Sponsored Enterprises shall be comprised of 30 members, 17 elected by the majority caucus and 13 elected by the minority caucus. (B) The Subcommittee on Financial Institutions and Consumer Credit shall be comprised of 30 members, 17 elected by the majority caucus and 13 elected by the minority caucus. (C) The Subcommittee on Housing and Insurance shall be comprised of 21 members, 12 elected by the majority caucus and 9 elected by the minority caucus. (D) The Subcommittee on Monetary Policy and Trade shall be comprised of 21 members, 12 elected by the majority caucus and 9 elected by the minority caucus. (E) The Subcommittee on Oversight and Investigations shall be comprised of 21 members, 12 elected by the majority caucus and 9 elected by the minority caucus. Subcommittee Meetings and Hearings (d)(1) Each subcommittee of the Committee is authorized to meet, hold hearings, receive testimony, mark up legislation, and report to the full Committee on any measure or matter referred to it, consistent with subsection (a). (2) No subcommittee of the Committee may meet or hold a hearing at the same time as a meeting or hearing of the Committee. (3) The chair of each subcommittee shall set hearing and meeting dates only with the approval of the Chair with a view toward assuring the availability of meeting rooms and avoiding simultaneous scheduling of Committee and subcommittee meetings or hearings. Effect of a Vacancy (e) Any vacancy in the membership of a subcommittee shall not affect the power of the remaining members to execute the functions of the subcommittee as long as the required quorum is present. Records (f) Each subcommittee of the Committee shall provide the full Committee with copies of such records of votes taken in the subcommittee and such other records with respect to the subcommittee as the Chair deems necessary for the Committee to comply with all rules and regulations of the House. Rule 6 staff In General (a)(1) Except as provided in paragraph (2), the professional and other staff of the Committee shall be appointed, and may be removed by the Chair, and shall work under the general supervision and direction of the Chair. (2) All professional and other staff provided to the minority party members of the Committee shall be appointed, and may be removed, by the ranking minority member of the Committee, and shall work under the general supervision and direction of such member. (3) It is intended that the skills and experience of all members of the Committee staff be available to all members of the Committee. Subcommittee Staff (b) From funds made available for the appointment of staff, the Chair of the Committee shall, pursuant to clause 6(d) of rule X of the Rules of the House, ensure that sufficient staff is made available so that each subcommittee can carry out its responsibilities under the rules of the Committee and that the minority party is treated fairly in the appointment of such staff. Compensation of Staff (c)(1) Except as provided in paragraph (2), the Chair shall fix the compensation of all professional and other staff of the Committee. (2) The ranking minority member shall fix the compensation of all professional and other staff provided to the minority party members of the Committee. Rule 7 budget and travel Budget (a)(1) The Chair, in consultation with other members of the Committee, shall prepare for each Congress a budget providing amounts for staff, necessary travel, investigation, and other expenses of the Committee and its subcommittees. (2) From the amount provided to the Committee in the primary expense resolution adopted by the House of Representatives, the Chair, after consultation with the ranking minority member, shall designate an amount to be under the direction of the ranking minority member for the compensation of the minority staff, travel expenses of minority members and staff, and minority office expenses. All expenses of minority members and staff shall be paid for out of the amount so set aside. Travel (b)(1) The Chair may authorize travel for any member and any staff member of the Committee in connection with activities or subject matters under the general jurisdiction of the Committee. Before such authorization is granted, there shall be submitted to the Chair in writing the following: (A) The purpose of the travel. (B) The dates during which the travel is to occur. (C) The names of the States or countries to be visited and the length of time to be spent in each. (D) The names of members and staff of the Committee for whom the authorization is sought. (2) Members and staff of the Committee shall make a written report to the Chair on any travel they have conducted under this subsection, including a description of their itinerary, expenses, and activities, and of pertinent information gained as a result of such travel. (3) Members and staff of the Committee performing authorized travel on official business shall be governed by applicable laws, resolutions, and regulations of the House and of the Committee on House Administration. Rule 8 committee administration Records (a)(1) There shall be a transcript made of each regular meeting and hearing of the Committee, and the transcript may be printed if the Chair decides it is appropriate or if a majority of the members of the Committee requests such printing. Any such transcripts shall be a substantially verbatim account of remarks actually made during the proceedings, subject only to technical, grammatical, and typographical corrections authorized by the person making the remarks. Nothing in this paragraph shall be construed to require that all such transcripts be subject to correction and publication. (2) The Committee shall keep a record of all actions of the Committee and of its subcommittees. The record shall contain all information required by clause 2(e)(1) of rule XI of the Rules of the House and shall be available in electronic form and for public inspection at reasonable times in the offices of the Committee. (3) All Committee hearings, records, data, charts, and files shall be kept separate and distinct from the congressional office records of the Chair, shall be the property of the House, and all Members of the House shall have access thereto as provided in clause 2(e)(2) of rule XI of the Rules of the House. (4) The records of the Committee at the National Archives and Records Administration shall be made available for public use in accordance with rule VII of the Rules of the House of Representatives. The Chair shall notify the ranking minority member of any decision, pursuant to clause 3(b)(3) or clause 4(b) of the rule, to withhold a record otherwise available, and the matter shall be presented to the Committee for a determination on written request of any member of the Committee. Committee Publications on the Internet (b) The Chair shall maintain an official Committee website for the purpose of carrying out the official responsibilities of the Committee, including communicating information about the Committee's activities. The ranking minority member may maintain an official website. To the maximum extent feasible, the Committee shall make its publications available in electronic form on the official Committee website maintained by the Chair. Audio and Video Coverage of Committee Hearings and Meetings (c)(1) To the maximum extent feasible, the Committee shall provide audio and video coverage of each hearing or meeting for the transaction of business in a manner that allows the public to easily listen to and view the proceedings; and (2) maintain the recordings of such coverage in a manner that is easily accessible to the public.

Mr. HENSARLING

Mr. HENSARLING. Madam Speaker, I rise in opposition to the motion to recommit.

Mr. HENSARLING. Madam Speaker, I listened carefully to the motion to recommit. I suppose I have some good news for the gentleman who offered it, and that is there are numerous bad actor provisions already within our Federal securities law. So, with the possible exception of the unconstitutional power grab of our President in granting amnesty and possibly allowing new bad actors to enter our country, I think that the motion to recommit is probably largely irrelevant. Let's get down to the substance of the matter, and that is, Madam Speaker, here is an idea that is worthy of the American people. That idea is: Why don't we work on a bipartisan basis to promote job creation and reduce small business burdens? That is exactly what H.R. 37 does. We all know it is a rollup of 11 simple, modest bills, all of which have passed this body with huge, huge bipartisan support. H.R. 634 passed 411-12; H.R. 5471 passed by voice vote; H.R. 801 passed 417-4; H.R. 2274, 422-0, Madam Speaker. So this passed in the last Congress. Unfortunately, Senator Reid didn't take it up. Maybe one of the reasons that his party lost the last election is because of the obstruction that the former Senate majority leader imposed on the American people. Last week, it came within a dozen votes of passing. It would have passed, Madam Speaker, but so many of my friends on the other side of the aisle apparently were for it before they were against it, and they changed their vote. So why the change of heart? Madam Speaker, there was a change of heart because the left hand doesn't know what the far left hand is doing. Three of these bills represent very modest clarifications or modifications of the 2,000-page Dodd-Frank Act. And to the ultraleft, the ultraliberal friends, Dodd-Frank is no longer policy. It is no longer philosophy. It is an article of religious faith. It is sacred text. It was chiseled in stone. It came down from Mount Sinai. Meanwhile, the community banks and the Main Street businesses that are trying to put America back to work are suffering under the sheer weight, load, volume, complexity, and cost of the regulatory burden that has been imposed by our friends on the left. The left aims their rhetoric at Wall Street, but they vote against Main Street. The hardworking American families and those who want to work become collateral damage. Main Street doesn't want to occupy Wall Street; they just want to quit bailing it out. And that is what we need to do, Madam Speaker. So it is time to get America back to work. It is time to work on a bipartisan basis. It is time to grow this economy from Main Street up, not Washington down. Reject the MTR. Vote in favor of promoting job creation and reducing small business burdens. I yield back the balance of my time.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, what we have really witnessed here is a debate between the left and the far left, and the far left doesn't want the left to work on a bipartisan basis. That is sad. I think that is what the American people want us to do. The American people, by and large, don't want to occupy Wall Street. They just want to quit bailing it out, and bailing it out is exactly what the Dodd-Frank Act does. It is time to grow this economy from Main Street up, not Washington down, and that is what the big debate is. Almost every bill here, Mr. Speaker, is a modest bill to help small businesses, to help capital formation to put America back to work. They passed on an overwhelmingly bipartisan basis. Let's show the American people that we can do it. Don't let the far left torpedo America's hopes and dreams. I encourage all the House Members to support this legislation. Mr. Speaker, I yield back the balance of my time.

Mr. HENSARLING. Mr. Speaker, how much time do I have remaining?

Mr. HENSARLING. Mr. Speaker, I am now happy to yield 2\1/2\ minutes to the gentleman from Michigan (Mr. Huizenga), chairman of the Monetary Policy Trade Subcommittee.

Mr. HENSARLING. Mr. Speaker, I am now happy to yield 1\1/2\ minutes to the gentleman from Arizona (Mr. Schweikert), a member of the committee.

Mr. HENSARLING. Mr. Speaker, I am very happy now to yield 1 minute to the gentleman from North Carolina (Mr. Pittenger), a member of the committee.

Mr. HENSARLING. Mr. Speaker, I now yield 2\1/2\ minutes to the gentleman from Wisconsin (Mr. Duffy), the chairman of our Oversight and Investigations Subcommittee.

Mr. HENSARLING. I yield the gentleman an additional 10 seconds.

Mr. HENSARLING. Mr. Speaker, I am now very happy to yield 1\1/2\ minutes to the gentleman from the ``Live Free or Die'' State of New Hampshire (Mr. Guinta), a member of the committee.

Mr. HENSARLING. Mr. Speaker, pursuant to House Resolution 27, I call up the bill (H.R. 37) to make technical corrections to the Dodd-Frank Wall Street Reform and Consumer Protection Act, to enhance the ability of small and emerging growth companies to access capital through public and private markets, to reduce regulatory burdens, and for other purposes, and ask for its immediate consideration.

Mr. HENSARLING. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, for the sake of the American people, for the sake of all of those who are underemployed, who are unemployed still today in this economy, let us hope that the third time is the charm. The bill that is before us today, substantially authored by the gentleman from Pennsylvania (Mr. Fitzpatrick), the Promoting Job Creation and Reducing Small Business Burdens Act, was on the floor in a substantially identical version in the 113th Congress. This bill, to ease the burdens on small businesses, on job creators to help foster capital creation, so that people can be put back to work, so that people can have good careers, so that people can pay their mortgages and pay their health care premiums, substantially in the same form passed in the last Congress 320-102; regrettably then, the United States Senate, under Democrat control, took up no portion of the bill. It was last week that a slightly different version of the bill was brought to this House floor under what we know as our suspension calendar, which is reserved for bills that typically enjoy broad bipartisan support; regrettably, it proved to be about a dozen votes short because a number of my friends from the other side of the aisle apparently decided that they were for the bill before they were against the bill. They changed their minds in approximately 7 days. Now, Mr. Speaker, this is a very simple bill. There were 11 different modest provisions, all of which enjoyed broad bipartisan support, again which were modest, modest attempts to ensure that small businesses could still survive in an otherwise onerous Washington regulatory climate. Mr. Speaker, we had a bill that, even combined--and it is quite common for us to roll up bills for the sake of efficiency, bills that are quite similar in nature--was 30 pages long. Not 300, not 3,000--it wasn't the 2,000 pages of ObamaCare, not the 2,000 pages of Dodd- Frank--it was merely 30 pages. Now, what is included in this bill? Well, included in this bill is H.R. 634, which passed this body 411-12. It includes H.R. 5471, which passed the House by voice vote, not a dissenting vote that I recall. It includes H.R. 801 that passed the House 417-4. It includes H.R. 2274, the bill that passed the House 422-0. I could go on and on, but of the bills that are rolled up to ensure greater capital formation and regulatory relief for our smaller business enterprises, all of these passed either the committee or the House with overwhelming bipartisan support, and now--now--the minority is coming to this floor and somehow crying foul. Again, many were for it before they were against it. I don't know how we can look our constituents in the eyes and know that, even today, they continue to suffer in this economy and not do something to help them. What this is really all about, Mr. Speaker, is there is a division. There is a division within the Democrat Party. According to press reports, some Democrats have reportedly told their fellow Democrats that if they dare to vote for a bill that makes a clarification or modification to Dodd-Frank, they aren't real Democrats. It is interesting that yesterday, President Obama signed into law a modification of Dodd-Frank. I know the President is not a Republican, but according to some Democrats, apparently by signing a modification to Dodd-Frank, he is not apparently a Democrat, either, so I am not really sure what he is. It is fascinating that a former chairman, Barney Frank, of the House Financial Services Committee, one of my predecessors, in previous testimony before our committee, indicated a number of changes to Dodd- Frank that he thought would be proper, so according to some Democrats, apparently Barney Frank is no longer a Democrat, either. What this is really getting at, Mr. Speaker, is of the 11 bills that are rolled up into this 30-page document, some of them either clarify or modify provisions of Dodd-Frank, and for some Members of the Democratic Party, apparently, Dodd-Frank has now been elevated beyond ideology to religion, and there can be no changes in a 2,000-page bill that we know is fraught with unintended consequences. Yet there are some on the other side of the aisle that say, ``no changes, no changes,'' yet President Obama signed a change into law. Former Chairman Frank has indicated a number of changes he would consider. It is time to get beyond the religion. It is time to get beyond the ideology. It is time to get America back to work. It is time to start growing this economy from Main Street up, not Washington down, because that is not working, Mr. Speaker. It is time to do what everybody claims they want to do, and that is work on a bipartisan basis. All of these bills passed with overwhelming bipartisan majorities, and now, because of this almost religious zeal for the Dodd-Frank brand, again, some of my Democratic colleagues have decided that they were for it before they were against it. It is time to put America back to work. It is time to enact H.R. 37, Promoting Job Creation and Reducing Small Business Burdens Act. Let's make sure the third time is the charm. I reserve the balance of my time.

Mr. HENSARLING. Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days within which to revise and extend their remarks and include extraneous materials on H.R. 37, currently under consideration.

Mr. HENSARLING. Mr. Speaker, I yield myself 20 seconds to say that this highly controversial bill that the ranking member alludes to passed on the House floor by voice vote, and this particular financing helps companies like Dunkin' Donuts, American Airlines, Burger King, and Goodyear Tire put people to work in America--hardly Wall Street. The head of the Independent Community Bankers has said it is necessary to protect community banks, and that is why we are here today. Mr. Speaker, I am now happy to yield 3 minutes to the gentleman from Georgia (Mr. Austin Scott) on behalf of the Agriculture Committee, which shares jurisdiction on this bill.

Mr. HENSARLING. Mr. Speaker, I yield myself 10 seconds. I continue to be fascinated by my Democratic colleagues whose rhetoric is against Wall Street, yet they vote in Dodd-Frank to codify a taxpayer bailout fund for Wall Street into that legislation. They designate firms too big to fail so their rhetoric is aimed at Wall Street but they hurt Main Street, who we are trying to help now. I yield 5 minutes to the gentleman from Kentucky (Mr. Barr), who is the author of the title that helps so many of our small businesses grow.

Mr. HENSARLING. I yield an additional 1 minute to the gentleman.

Mr. HENSARLING. Mr. Speaker, at this time, I am very happy to yield 4 minutes to the gentleman from Pennsylvania (Mr. Fitzpatrick), who is the sponsor of this job-creating legislation.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I ask unanimous consent that when the House adjourns today, it adjourn to meet at 9 a.m. tomorrow.

Mr. HENSARLING

Mr. HENSARLING. Mr. Chairman, I thank the gentleman for yielding, and I thank him for his leadership on this critical piece of legislation. Mr. Chairman, every President in the history of our Republic, from George Washington to Barack Obama, has raised their right hand and said: I do solemnly swear that I will faithfully execute the office of the President of the United States, and will to the best of my ability, preserve, protect, and defend the Constitution of the United States. Clause 4, section 8 of article I of the Constitution says the Congress--the Congress--``shall have power to establish an uniform rule of naturalization.'' When we as a body read the Constitution on the House floor last week, I had the honor of reading this very section for all to hear. Section 3, article II of the Constitution says the President ``shall take care that the laws be faithfully executed,'' but never in the history of our Republic has a President so blatantly ignored his oath. We know our President has a pen; we know he has a phone. We just wonder when will he acquire a copy of the Constitution and read it. His executive action on immigration is an unconstitutional power grab. It tramples on the authority that the Constitution gives Congress--the people's elected Representatives--over immigration. It ignores the separation of powers. We cannot let it stand. Coequal branches of government, separation of powers, the rule of law--these must be preserved. In this bill, as amended, we do this by exercising the House's constitutional power of the purse. This DHS funding bill, as amended, will achieve this. The debate is much bigger than immigration. It is much bigger than amnesty. It is about our Constitution. It is about the principle of separation of powers. It is the bedrock of our freedom and prosperity as Americans.

Mr. HENSARLING

Mr. HENSARLING. ``. . . to borrow money on the credit of the United States; ``To regulate commerce with foreign nations, and among the several States, and with the Indian Tribes; ``To establish an uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States; . . .''