Bill Huizenga

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Chairman, I thank my colleague and friend for yielding. Nobody is opposed to the idea of investor testing of SEC disclosure documents. By the way, neither is the SEC. They just proved that, as we know, from their testing of Form CRS. What I am opposed to, and I believe the gentlewoman is opposed to, is a testing loop. You test and refine, test-refine, test-refine. What is happening in between those time periods? What does it revert back to? And we can get into a death spiral or paralysis by analysis sometimes. Not that we don't have the best intentions and have the SEC move forward, we just need closure. Again, cost is a part of the access, but timeliness is part of access for everybody as well, and I am just afraid that with what we could get into we are going to be in this testing loop.

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

Mr. HUIZENGA. Mr. Chairman, this amendment simply attempts to define an unclear and undefined term by making reference to another unclear and undefined term. For context, let me be clear on where this comes from. The Securities and Exchange Act of 1934 does not define either the term ``retail investor'' or ``institutional investor.'' This amendment pretends to add clarity, but arguably further muddies an already confusing bill by adding a second new undefined term. In fact, there are some who believe that the amendment might actually expand the bill's reach, because the bill, as amended, could be interpreted to apply to any document designed to reach anybody other than that ``institutional investor.'' So we have a problem here, Mr. Chairman. We have undefined terms. We have muddied, not clear goals and objectives here, and so, I would rhetorically ask, what is an institutional investor? Is it a small-town investment manager who is a sole practitioner, but has set up their own business and now is, thus, an institution? Does the business require multiple employees? Does it require a large number of employees? I, for one, am not sure. Does it have a dollar amount attached to it? It could be one person, a very wealthy person investing millions or a whole bunch of smaller investors, who don't have millions, banding together and now they are suddenly institutional investors. So let's just not make H.R. 1815 more confusing than it already is. I urge my colleagues to oppose this amendment, and I reserve the balance of my time.

Mr. HUIZENGA. Mr. Chairman, the Securities Exchange Act of 1934 has been a living, breathing document; but in those subsequent years from 1934, there has never been a definition of either ``retail investor'' or ``institutional investor,'' and to hang an amendment on those terms which are undefined legally is simply a mistake. So, Mr. Chair, I do not support this unnecessarily confusing amendment, and I urge a ``no'' vote on this amendment. Mr. Chair, I yield back the balance of my time.

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, I rise today to celebrate the launch of the 50th Upward Academy at the Tyson Foods plant in my hometown of Zeeland, Michigan. This unique in-plant educational program offers empowering resources and courses to all workers at no cost. By partnering with local community organizations, Upward Academy provides team members the opportunity to access important classes, such as English as a second language, general education development, and citizenship courses. The academy also includes multiple components focused on workplace skills and professional training to develop talent, especially in rural and marginalized areas. Through programs such as drivers' education, computer technology, and financial literacy, Upward Academy brings knowledgeable experts directly to workers so they can move beyond entry-level jobs and receive valuable qualifications so that they can perform at even higher levels. The 50th launch of the Upward Academy will open the door for all team members to strive beyond their current situations. Tyson Foods and Upward Academy's commitment to cultivating a modern workforce that is prepared for the 21st century helps our community grow stronger and make west Michigan a better place to live, work, and raise a family.

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, I appreciate the ranking member allowing me this time. Let's set aside the moral and societal aspects of cannabis and the debate and acknowledge that we have a problem. We do have a problem. We have States that have decided to violate Federal law; and within those States, we have banking institutions and businesses that are operating within the confines of the State, however, that are still in violation of the Federal law. Now, here is what we do agree on: We need to have a goal of predictability for these financial institutions and for these businesses. However, I don't believe that this bill will ultimately do that because the Federal Government still views this as a schedule I substance. I had an amendment in committee, as the author of the bill well knows, that would have forced alignment with all of the various regulators. I think at the time, my recollection is, we counted 13 different Federal regulators that touch these institutions in one way or another. The answer to that was, well, in the bill, we have a requirement that they are going to agree with each other within 180 days. Well, this is not going to come as a surprise to those watching on C- SPAN. We can't collectively tie our shoes here in Washington in 180 days, much less get through something that complicated. My amendment said that this would go into effect only when and if all of the regulators could agree to the language of how to deal with it. I still think that is the right way to go.

Mr. HUIZENGA. There is a big difference we know between industrial hemp and recreational cannabis. The only way for us to really get at this issue and provide predictability to the companies, to the financial institutions, and to our citizens is to have the full debate about whether marijuana and cannabis should be a schedule I substance or not. It is time for this full debate to happen, and I look forward to it.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, had I been present, I would have voted ``yea'' on rollcall No. 545 and ``nay'' on rollcall No. 546.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, I rise today to honor and celebrate Dr. Lewis Squires, a West Michigan resident who was recently named Chiropractor of the year by the Michigan Association of Chiropractors. This prestigious award perfectly captures Dr. Squires' 41 years of leadership, service, and dedication to Communities in West Michigan and beyond. Through his outstanding work, Dr. Squires has improved the lives of countless Michiganders, reducing chronic pain, providing rehabilitative care, and encouraging a holistic approach to one's well- being. Dr. Squires has dedicated his life to elevating the chiropractic profession, both directly to people and within the health care industry itself. He has played a crucial role in unifying chiropractors across Michigan, where his leadership earned him a spot on the Michigan Association of Chiropractors Board of Directors. Receiving the Chiropractor of the Year award is the culmination of numerous recognitions that Dr. Squires has earned. Dr. Squires has also been presented with the Outstanding Alumni President Award from the Michigan Palmer International Alumni Association, the Public Service Award from the Mason County Central High Schools, and was named Mason County's Favorite Chiropractor from 2011-2016. Madam Speaker, please join me in congratulating Dr. Lewis Squires on being named Chiropractor of the Year, and to thank him for his many years of service to Mason County and all West Michigan.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, I thank the ranking member for yielding. I do need to point out, while this bill had passed by a voice vote, it does not mean that it did not have opposition, and I rise today to express my concern with this bill which would establish this whistleblower incentive program at the PCAOB. Now, my opposition to this should not be interpreted as opposition to a whistleblower--in fact, it is the opposite of that--or a whistleblower program, but there are a number of reasons why I believe, and I think are clear, that this is a redundant program that is already covered in other ways. First, the bill is at odds with established principles of confidentiality that exist within the auditing profession. State laws and professional standards require accounting professionals to maintain the confidentiality of client information received in the course of performing an audit. This bill purports to exclude from whistleblower status any person who gains the information while performing audit work. However, the exclusion is muddled by an unclear and potentially broad exception. As a result, it is very possible that personnel performing audits may try to garner bounties by blowing the whistle on their audit clients, contrary to their professional obligations. By providing monetary incentives for audit personnel to go to the PCAOB, the bill inevitably will have harmful effects on the auditor- audit client relationship, the audit process, and the public's confidence in the financial reporting process. This bill also raises other significant questions. For example, why is a program at the PCAOB even necessary in light of the Security and Exchange Commission's already well-established whistleblower program? This is a completely redundant function that is being attempted here. Additionally, what are the costs associated with setting up a new whistleblower program, and will these costs force the PCAOB to divert resources from other projects in order to get this duplicative program off the ground? So, in light of these concerns, I believe that this is a redundant and ill-conceived bill that likely has one purpose: to provide another avenue for plaintiffs' bar to enrich itself. That is a massive concern that I and so many others involved in this have. It is incumbent upon those who support this bill to explain why they believe that auditors, who play such a critical gatekeeping function in our capital markets, should be potentially offered the prospect of monetary bounties at the expense of disrupting the effective functioning of the audit process as it is today, especially in light of the SEC's well-established whistleblower program that would cover all of these particular circumstances. Madam Speaker, I do appreciate the ranking member yielding time to me.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, I rise today regarding missed votes. Had I been present for roll call vote number 527, On agreeing to the Amendment of Mr. Gosar of Arizona, Part D Amendment No. 2 for H.R. 1146--The Arctic Cultural and Coastal Plain Protection Act, I would of have voted ``yea.'' Had I been present for roll call vote number 528, On agreeing to the Amendment of Mr. Gosar of Arizona, Part D Amendment No. 3 as modified 2 for H.R. 1146--The Arctic Cultural and Coastal Plain Protection Act, I would have voted ``yea.'' Had I been present for roll call vote number 529, On the Motion to Recommit with Instructions for, H.R. 1146--The Arctic Cultural and Coastal Plain Protection Act, I would have voted ``yea.'' Had I been present for roll call vote number 530, On final passage for, H.R. 1146--The Arctic Cultural and Coastal Plain Protection Act, I would have voted ``nay.''

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, I rise today to recognize the village of Spring Lake on its 150th birthday. This past weekend, friends and residents of the small village in west Michigan gathered together to celebrate and share memories of the community's rich and storied history. The village of Spring Lake first began as a lumber town in 1838 when Captain Benjamin Hopkins and his family arrived from Canada. Soon after, other settlers arrived and constructed additional sawmills, leading to the village officially incorporating in 1869. As the village developed, railroads, resorts, and telephone lines all helped the village grow into a bustling community. Today, the village is situated on the beautiful shores of both Spring Lake and the Grand River right next to Lake Michigan, offering endless recreational opportunities and a wide variety of shops and services. While the village has changed much throughout the last 150 years, one thing has remained constant, the close-knit and welcoming community continues to make the village a special place to live and raise a family. Mr. Speaker, let us join in celebration and in recognition of all former and current residents of Spring Lake Village as we celebrate its 150th birthday

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, I rise today to celebrate the launch of the 50th Upward Academy at the Tyson Foods Plant in Zeeland, Michigan. This unique in-plant educational program offers a plethora of empowering resources and courses to all workers, from the frontlines to the offices, at no-cost. By partnering with local community organizations, Upward Academy provides team members the opportunity to access important classes that would otherwise be unattainable. Examples include English as a Second Language, General Educational Development (GED), and United States citizenship, among others. For new immigrants to the U.S., Upward Academy helps to assimilate and integrate them into American society, thereby creating a bedrock for their future success. Moreover, the Upward Academy includes multiple components focused on workplace skills and professional training to develop talent, especially in rural or marginalized areas. This includes classes in driver education, computer technology, financial literacy, and a variety of soft skills. Through these programs, Upward Academy brings knowledgeable experts directly to workers so they can move beyond entry-level jobs, receive valuable qualifications, and perform at high levels. The 50th launch of Upward Academy will open the door for all team members at Tyson's Plant in Zeeland, MI to strive beyond current limitations. Tyson Foods and Upward Academy's commitment to cultivating a modem workforce that is prepared for the 21st century will help our community grow stronger and make West Michigan a better place to live, work, and raise a family. Madam Speaker, please join me in officially recognizing the launch of the 50th Upward Academy at the Tyson Foods Plant in Zeeland, MI.

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, I rise today to honor the life of a very special hero who risked her life to care for others and left a remarkable legacy. Diet Eman was a longtime west Michigan resident who was born and raised in the Netherlands. At 20 years old, she found herself in the middle of the crisis that had overtaken Europe during World War II. Recognizing the injustices against the Jewish people in Holland, Diet and her fiance, Hein Sietsma, formed the Dutch resistance group called ``Help Elkander in Nood,'' which means ``helping each other in need.'' Throughout the course of the war, Diet organized shelters and provided assistance to Jews in need, reported on German troop movements, and helped downed Allied pilots. Eventually, she was actually captured by the Germans and spent 3 months in a concentration camp. However, her spirit and will could not be broken, and she outsmarted her interrogators, bluffed her captors into releasing her, and quickly returned to her work within the resistance movement. Diet was personally recognized by President Eisenhower for her contributions, as well as by Dutch King Willem-Alexander, who deemed her a national hero for her courage and sacrifice. Meeting her in person last year was a very special memory for me and my entire family. Diet never wavered in taking a stand for what is noble and lived a life full of bravery, compassion, and purpose. Through her efforts, Diet helped change the world and make it a better place. May her memory be eternal.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, I rise today to honor and celebrate the 40th Anniversary of Eagle Alloy, a local business that proudly serves the West Michigan community. Eagle Alloy is a company that provides various types of advanced metal castings to a variety of customers all over the nation. Since 1979, the Eagle Alloy headquarters and it's manufacturing facilities have all been located in Muskegon, Michigan, and has become one of the largest private employers in the community. The founders of Eagle Alloy, Mark Fazakerly and John Workman, are two individuals I proudly call close friends and have always held a customer-first attitude when running their business. In fact, Mark and John still work closely with their very first customer even after 40 successful years. Safety and worker satisfaction are also key components to the Eagle Alloy workplace. Eagle Alloy will be celebrating an incredible 500,000 consecutive work hours with no accidents alongside their 40th Anniversary. In 2015, Eagle Alloy was awarded ``Metal Caster of the Year'' by the American Foundry Society. A few years later in 2018, Eagle Alloy was honored as the ``Michigan Manufacturer of the Year'' by the Michigan Manufacturers Association. Madam Speaker, please join me in congratulating John, Mark, and all of the employees and families of Eagle Alloy for 40 years of dedicated service to West Michigan and our country's manufacturing base.

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, I rise today to recognize Holland Virtual Tech High School. This program was brought to my attention by a gentleman named Louis, who talked about it and the positive impact it had on his family during one of my telephone townhalls recently. Since 2015, the program has served as an alternative credit recovery school on the campus of Holland High School in Holland, Michigan. The fully accredited program offers a unique online learning environment designed for students who struggle in a traditional classroom setting or have fallen behind in their schoolwork due to unforeseen circumstances. Together, teachers, guidance counselors, and support staff at the school work with the students to develop an individualized graduation plan. Through these efforts, nearly 400 students have graduated from the program. That represents countless lives positively impacted, even more doors opened, and endless opportunities created for these young men and women. Upon completion of the program, students receive a Holland Public Schools diploma that meets all requirements of the Michigan Merit Curriculum. The program has played an integral part in increasing the overall Holland High School graduation rate by 5 percentage points over the last 2 years. Students who graduate are equipped with the skills to successfully transition into their postsecondary lives, whether that be continued education, apprenticeships, or directly into the job market. Mr. Speaker, I thank everyone who is involved with Holland Virtual Tech High School. Keep up the great work.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, today I rise to congratulate my longtime friends and fellow West Michigan residents, Mr. Roger Hale Borr and Mrs. Ruth Elaine Borr, who will be celebrating their 60th wedding anniversary this August. This significant benchmark is a symbol of their commitment to each other and to their family. Throughout their marriage, Roger and Ruth have been blessed with two children and three grandchildren, who have seen firsthand the love a dedicated marriage can bring. I am happy to join their friends and loved ones in extending my best to them as they celebrate their 60th wedding anniversary on Tuesday, August 6, 2019. Over the years, I have personally witnessed the devotion, affection, and passion they share with not only each other, but the West Michigan community as well. Through marriage, Roger and Ruth have strived to serve others, brought joy to one another, and shared their wonderful example of kindness and love. Madam Speaker, please join me in congratulating my dear friends, Roger and Ruth, on this exciting occasion. Happy 60th wedding anniversary.

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, I rise today in support of H.R. 2919, the Whistleblower Protection Reform Act of 2019. Whistleblowers are an effective means of rooting out bad behavior that harms the market as well as investors. In fact, Section 922 of Dodd-Frank amended the Securities and Exchange Act of 1934 to afford whistleblowers protection from retaliation by their employers for reporting suspected misconduct. Additionally, Section 922 allows for the SEC to provide monetary awards to whistleblowers who provide ``original information'' resulting in monetary sanctions over $1 million. However, in February 2018, the Supreme Court held in Digital Realty v. Somers that whistleblowers who report alleged misconduct internally to their employer, as opposed to the SEC, are not protected by Dodd- Frank's anti-retaliation provisions. A whistleblower who reports directiy to their employee about alleged misconduct shouldn't risk being retaliated against. That's why this bipartisan bill has been carefully crafted to clarify the application of the anti-retaliation provisions to whistleblowers provided within the Dodd-Frank Act. By further clarifying the anti-retaliation provisions of section 922 apply to those whistleblowers who report internally will encourage employees to report potential misconduct instead of automatically escalating the issue to the SEC. Internal reporting may be more efficient and practical in some cases as employers have a chance to correct, self-report, or take other action. Moreover, by clarifying the application of Dodd-Frank anti- retaliation protections to internal whistleblowers, the bill aligns with similar protections for internal whistleblowers within the Whistleblower Protection Act and Sarbanes-Oxley. I'd like to thank my colleague, Mr. Green for working with me on the Whistleblower Protection Reform Act and I urge my colleagues to vote yes.

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, I rise today in support of H. Res. 456 that recognizes the importance of grassroot investor protection and the investor education missions of State and Federal securities regulators. Additionally, this important resolution calls on the Securities and Exchange Commission to collaborate and work with State securities regulators to protect investors. Over a century ago, a group of state securities regulators had the idea to form a network of colleagues to work together for the protection of investors throughout North America. Shortly thereafter, the North American Securities Administrators Association (``NASAA'') was formed in 1919. This year, 2019, marks their 100th anniversary. The primary mission of both state securities regulators and NASAA is to protect and advocate for the protection of investors, especially the most vulnerable who lack the expertise, experience, and resources to protect their own interests. NASAA members accomplish their mission through the vigorous enforcement of their respective civil and criminal securities laws. While the securities markets are global, securities are sold locally. NASAA members are often the first line of defense against investment fraud in their jurisdictions. Moreover, because states are ``grass roots'' regulators, they often respond to emerging frauds and investment scams before they are detected at the federal level. NASAA also plays an important role in investor education, which is one of the best measures in preventing investment fraud. NASAA members have developed a wide array of specialized community outreach programs to educate investors in their jurisdictions. Most state securities regulators have established investor education departments or divisions within their agencies. The result is an effective network of dedicated professionals delivering unbiased, relevant, and free investor education programs in local communities throughout North America. These professionals can be found educating investors in the classroom, at the workplace, and at senior centers. NASAA members work hard to reach out to people who otherwise would not be able to readily access such information. For the past 15 years, NASAA has compiled and released an annual list of top 10 investment scams, schemes, and scandals to alert investors to increasingly complex and confusing investment fraud. Another important part of NASAA's mission is to help with capital formation. To that end, state securities regulators often work with and assist local businesses that seek capital investment. Small businesses are the lifeblood of our economy. NASAA members help facilitate a healthy small business economy that increases growth, investment, and job creation. In my home state of Michigan, NASAA members have worked tirelessly to become a leading voice for improving investment education, protected investors by utilizing securities enforcement, and helped build stronger communities by assisting in capital formation projects. Today, NASAA is the oldest international investor protection organization with a membership consisting of 67 state, provincial, and territorial securities regulators in the 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico, Canada, and Mexico. I want to congratulate NASAA on their first 100 years and look forward to their work continuing for many years ahead. I urge passage of this resolution acknowledging the superb work of this outstanding organization.

Mr. HUIZENGA

Mr. HUIZENGA. Mr. Speaker, initial public offerings, or IPOs, have historically been one of the most meaningful steps in the lifecycle of a company. ``Going public'' was the ultimate goal for entrepreneurs. You start a business from scratch, build it up into a successful enterprise, and then open up an opportunity for the public to share in your success. By completing an IPO, a company is able to raise much-needed capital for job creation and expansion opportunities, while allowing main street investors the opportunity to have an economic piece of the action and ability to participate in the growth phase of a company. However, over the past two decades, our nation has experienced a 37 percent decline in the number of U.S. listed companies. Equally troubling, we have seen the number of public companies fall to around 5,700. These statistics are concerning because they are similar to the data we saw in the 1980's when our economy was less than half its current size. For myriad reasons, the public model is no longer viewed as an attractive means of raising capital. Instead, small and emerging growth companies are choosing to go public much later in their lifecycle or choosing not to go public at all. We must work to change the trajectory. In speaking to the New York Economic Club, SEC Chairman Clayton stated that ``Regardless of the cause, the reduction in the number of U.S.-listed public companies is a serious issue for our markets and the country more generally. To the extent companies are eschewing our public markets, the vast majority of Main Street investors will be unable to participate in their growth. The potential lasting effects of such an outcome to the economy and society are, in two words, not good.'' I share Chairman Clayton's concerns. We need to ensure that our capital markets are open for innovators and job creators and we must work to right-size regulations for smaller companies as well. One way that Congress worked to lift burdensome regulations and help small companies gain access to capital markets was the bipartisan Jumpstart Our Business Startups Act--popularly known as the JOBS Act. Section 105 of the JOBS Act changed the ``gun-jumping rules'' to provide an exception from the definition of an offer to allow for the publication or distribution by a broker or dealer of a research report about an emerging growth company that is the subject of a proposed public offering. However, few investment banks have published any pre- IPO research since passage of the JOBS Act, and research coverage in general on small issuers continues to be an issue. This negatively affects investor interest and awareness in a company as well as trading liquidity. This provision was intended to increase research but unfortunately it has had the opposite effect and instead, there has been a significant decline over recent years in analyst research covering small public companies. According to the U.S. Chamber, ``61% of all companies listed on a major exchange with less than a $100 million market capitalization have no research coverage at all.'' For equities with a market cap below $750 million, the average number of research analysts covering that stock is one, while equities above $750 million in market cap have an average of 12 research analysts covering the stock. Additionally, the amount of research written on small companies has declined even as the percentage of individual ownership in small cap companies has increased. Little to no research coverage generally corresponds with lower stock liquidity, and reduced research coverage may be particularly disadvantageous to individual investors who have limited research capabilities on their own. In fact, one study published June 2017 in the Journal of Finance found that an increase in the number of analysts covering an industry improved the quality of analyst forecasts and information flow to investors. For that reason, it is important to examine current SEC rules and regulations affecting the ability of investment research coverage regarding small issuers. The Treasury Report on Capital Markets recommended a holistic review of rules and regulations regarding research, including the Global Settlement, to determine, which provisions should be retained, amended, or removed. Our bipartisan bill, the Improving Investment Research for Small and Emerging Issuers Act, would direct the SEC to study and evaluate issues affecting the ability of emerging growth companies and other small issuers in obtaining research coverage, including SEC rules, FINRA rules, state and federal liability concerns, the 2003 Global Research Analyst Settlements, and MiFID II. Not later than 180 days after enactment, the SEC will be required to submit to Congress a report that includes the results of the study and recommendations to assist EGCs and other small issuers in obtaining research coverage. Among the issues the SEC must consider are factors related to the demand for such research by institutional and retail investors, cost considerations for such research, and the impact on the availability of research coverage for small issuers due to a variety of market and regulatory conditions. The SEC's report must include recommendations to increase the demand for, volume of, and quality of investment research into small issuers, including EGCs. I'd like to thank the Financial Services Chairwoman, Mrs. Waters, and Rep. Ben McAdams, for recognizing the importance of research in our capital markets and working with me to address this issue.

Mr. HUIZENGA

Mr. HUIZENGA. I rise to offer an amendment.

Mr. HUIZENGA. Mr. Chair, I rise to offer an amendment that suspends implementation of section 1502 of the Dodd-Frank Act. Despite the best intentions, section 1502 has proved unworkable and, in some cases, has even been shown to increase violence in Central Africa. This misguided provision in the Dodd-Frank Act requires that the Securities and Exchange Commission mandate that public companies disclose whether so-called conflict minerals that they use for their products benefit armed groups in the Democratic Republic of the Congo and its nine adjoining countries. This amendment I am proposing passed the House last year as an amendment to the Financial Services and General Government appropriations bill, and a full repeal of section 1502 passed the House as part of the Financial CHOICE Act. ``Conflict minerals'' refers to tin, tungsten, tantalum, and gold, which have been used in a variety of products from cell phones, cosmetics, jewelry, footwear, and apparel. Even auto suppliers located in western Michigan and around the country have used it. The breadth of voices opposing 1502 is remarkable, and I would like to start with those who matter most. For too long, the people of Central Africa have been overlooked in this debate, even though they are the ones who suffer from Dodd-Frank's unintended consequences. Dodd-Frank's impact on African miners may seem unimportant to many rich country activists, but in Congo, it has been a question of life or death. In fact, according to a Washington Post article entitled ``How a Well-Intentioned U.S. Law Left Congolese Miners Jobless,'' section 1502 ``set off a chain of events that has propelled millions of miners and their families deeper into poverty,'' with many miners ``forced to find other ways to survive, including by joining armed groups.'' This article goes on to share the story of how a Congolese teenager who could no longer feed himself after Dodd-Frank ravaged the country's mining sector, forcing him to actually join an armed group--an outcome diametrically opposed to the goals of section 1502. Mr. Chair, no one can claim that these effects were unforeseeable. In a letter to the SEC commenting on section 1502, leaders from three Congolese mining cooperatives predicted that the conflict minerals rule would lead to a devastating boycott. These miners wrote: ``We cannot continue to suffer any longer. Do we now have to choose between dying by a bullet or starving to death?'' I ask my colleagues to remember the Congolese aren't alone in their suffering. The SEC rule applies to nine other African nations as if they were all one single country. In fact, section 1502 treats over 230 million Africans living in 10 distinct nations as one, undifferentiated group. Dodd-Frank's supporters will say at this point that some countries neighboring Congo may help smuggle minerals on behalf of these armed groups, which is why we need to paint with such a broad brush. But I would ask my colleagues to name one other example where a country's economy and each of its neighbors is targeted due to a presumed smuggling risk. Do we design Russia sanctions to apply to each of its 14 adjoining countries, too? Do Iranian sanctions implicate all of its seven neighbors? How about North Korea and its neighbors South Korea and China? Perhaps advocates for section 1502 believe that there is no smuggling from Russia, Iran, or North Korea. But the real issue seems to be this: Dodd-Frank's supporters have no problem treating Africans differently from other regions of the world. I find that extremely troubling. Now let's consider implementation of 1502 itself. A recent GAO report stated that section 1502 has produced little meaningful information on conflict minerals sourcing. It found that more than half of the companies could not even determine what country their minerals came from. Most importantly, virtually none of the companies could tell whether their minerals benefited armed groups or not, a conclusion that echoed GAO's findings from 2014 to 2017 as well. It is no wonder that companies can't figure this out. Even the Department of Commerce in both the Obama and Trump administrations has reported that it is unable to determine whether smelters around the world use minerals traceable to armed groups. In other words, Dodd- Frank is asking U.S. companies--some of which are small- and medium- sized enterprises in larger corporations' supply chains--to produce information that even the Federal Government can't provide. As if that weren't enough, the courts have also struck down parts of section 1502 for violating companies' First Amendment rights. Mr. Chair, the facts I have laid out in 1502 are not partisan, and its suspension shouldn't be either. So let me close with words of Barack Obama's SEC Chair Mary Jo White who in 2013 said: ``Seeking to improve safety in mines for workers or to end to horrible human rights atrocities in the Democratic Republic of the Congo are compelling objectives, which, as a citizen, I wholeheartedly share. But, as the chair of the SEC, I must question, as a policy matter, using the Federal securities laws and the SEC's powers of mandatory disclosure to accomplish these goals.'' Mr. Chairman, I yield back the balance of my time.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, I rise today regarding missed votes. Had I been present for roll call vote number 376, Pence of Indiana Part B Amendment No. 105, I would have voted Yea.

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, I rise today to recognize the career of a friend, public servant, and caring educator: Grand Valley State University President Thomas J. Haas. As a retired U.S. Coast Guard captain who also holds a Ph.D., President Haas has devoted his life of service to our country and, most recently, to west Michigan and the students of Grand Valley State University. Having been appointed the university's fourth president in 2006, he successfully laid a foundation for a culture that nurtures innovation and excellence. Under his leadership, enrollment has soared to over 25,000 students, while 46 undergraduate and graduate programs have also been added and the university expanded with 2.5 million square feet of new buildings. ``T. Haas,'' as he is affectionately called by students, and his wife, Marcia, will forever be cherished and adored by the Grand Valley community. Together, they have passionately dedicated themselves to putting students first. The now-famous selfie with T. Haas, as it is known, it is a clear example of the way they treated every student like their own. President Haas is the epitome of the phrase ``Laker for a Lifetime.'' It has been an honor to work with him in support of Grand Valley, its students, and all of west Michigan. While his time as president may be coming to an end, his legacy and impact will forever live on. Madam Speaker, I yield to the gentleman from New York (Mr. Zeldin). Recognizing Luis Alvarez

Mr. HUIZENGA

Mr. HUIZENGA. Madam Speaker, today I rise to recognize the Ludington Pumped Storage plant in Mason County for 46 years of service. Owned by Consumers Energy and DTE Energy, Ludington Pumped Storage recently had its construction and operating license period extended for 50 years. Beginning operations on the shores of Lake Michigan in 1973, Ludington Pumped Storage is affectionately known as ``the big battery.'' This engineering marvel is a critical part of Michigan's energy infrastructure, ensuring our residents can access safe, affordable, and reliable energy. It also serves as an innovative example of what can be done to harness energy in my home state. Here's how the facility operates: When electricity is cheaper at night, the plant pumps water from Lake Michigan up a bluff to the plant's 27 billion-gallon reservoir, creating an on-demand power source. When demand dictates, the gates are simply opened, enabling water to rush downhill and turn the plant's powerful turbines to generate electricity. Ludington Pumped Storage has the ability to produce 1,872 megawatts of electricity, which is enough energy to provide power to 1.4 million Michigan residents. With the Federal Energy Regulatory Commission recently approving a 50-year extension of the plant's construction and operating license, this important source of energy will continue to support Michigan residents until June 30, 2069. ``The Big Battery's'' nearly half-century of service is a testament to the dedication of the men and women who helped build it as well as to those who have kept watch over the years. As our nation confronts energy challenges going forward, I hope we remember Ludington Pumped Storage and the example it has provided in supporting Michigan's energy needs. Congratulations to the team at Ludington Pumped Storage on this great achievement. I look forward to a new chapter for this modern marvel in service to the people of Michigan.