J. Hill

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today to honor the men and women of the National Guard for their 381 years of dedicated service and sacrifice to the defense of our nation. On December 13, 1636, the first militia regiments in North America were organized in Massachusetts. From deploying overseas in theaters of war, to being activated by our nation's governors in times of natural disaster, the Guard has been a critical component of our national security strategy, and an integral part of America's military supremacy. I extend my thanks to Arkansas's Adjutant General, Mark Berry, for his dedication and leadership of Arkansas's Guard. Thank you to those Guardsmen who are currently deployed overseas, including the Arkansas Guardsmen currently deployed around the world in Kosovo and Kuwait. But most of all, thank you to those National Guardsmen who have given the ultimate sacrifice in defense of our nation

Mr. HILL

Mr. HILL. Mr. Speaker, I thank my friend, Mr. Williams, for introducing H.R. 4324, the Strengthening Oversight of Iran's Access to Finance Act. This act is needed. Tonight, we are not here to rehash the failings of the JCPOA, but we are really here to honor Secretary Kerry's commitment of oversight of Iran outside that agreement. He made it quite clear to Congress in his briefings that we would monitor the world's largest exporter of terror around the world; that we would do everything outside the agreement to enforce sanctions; that we would not stop reviewing their behavior. This piece of legislation comes at an important time, as the Trump administration is taking significant steps to protect our homeland by reviewing actions around rogue regimes and sponsors of terror around the world, including Iran. Now, my friend from Washington brought up the subject of the American worker, and, of course, we all are blessed by the brilliance and success of Boeing. We couldn't come to our jobs without them. But there are 5,000 airlines in the world, Mr. Speaker. There are 10,000 Boeing aircraft in service, and there are 5,700 airplanes on order from the Boeing corporation to help make up that $41 billion of annual revenue. The question here is not about selling airplanes, the question here is about protecting the homeland and interests of our country around the world. Unfortunately, civil aviation is commingled with military Quds Force action; not just in what has been said tonight about transporting military action to Syria, supporting a war that has killed some 500,000 people, but what about Boeing transport from Damascus to Caracas? What about the Boeing aircraft operated by the Iranian regime back and forth between Russia and Iran, back and forth between Tehran and Damascus, between Damascus and Venezuela? It is not just the civilian aircraft, Mr. Speaker, and that is why we want to be alert, and our American citizens need to know if their bank deposits are being used to extend credit to a regime that seeks pleasure in murdering innocent people, murdering our men and women in uniform and even innocent civilians in their own country. We may differ on our views on the JCPOA, but we can all agree that nothing in the nuclear deal prevents the sharing of information between an administration and this Congress about financing aircraft for the world's largest state supporter of terrorism. That is what this piece of legislation is trying to achieve. That is what Mr. Williams' point is in bringing it to the floor, and I appreciate his thoughtful work to implement this much-needed policy and to help keep the citizens in my district safe from Iran's global terror advance.

Mr. HILL

Mr. HILL. Mr. Speaker, I thank the chairman. I want to congratulate my friend, Andy Barr, for bringing this bill back to the floor of the House to be on the side of the consumer, to be on the side of affordable choices, to be on the side of truly affordable housing in so many areas where there is no alternative. Many in the urban areas of our country, the East and West Coast elites who make financial policy, have no understanding of living out in the country. They don't realize we don't have stick-built alternatives in many rural areas of our country. As a former community banker down in Ashley County and Chicot County, Arkansas, the most affordable, best alternative for many of our families is a manufactured home, working with a relative for a plot of land. Dodd-Frank has made that unaffordable and unavailable. And to that point, I want to say I got a letter from a pal at the Army National Guard who said: I was turned down on a loan that would be cheaper, larger, and better for my family. It was better than the house, the 60-year-old house, that he was renting. That is why we need this bill, and I thank the chairman for bringing it to the floor today.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today, during National Adoption Month, to encourage adoption and improvements in our foster care system across this land. Currently, there are roughly 428,000 children in America's foster care system, and nearly 112,000 of those children are waiting to be adopted into safe, permanent, and loving families. According to Arkansas State data, the number of foster youth has outpaced the number of spots available in foster homes by over 1,200 children. Organizations around the State have been at the forefront of recruitment efforts for our foster families. One such organization is The CALL, locally directed by Lauri Currier. She notes that a stable, loving home can make a huge difference in a child's life, specifically with regard to escaping the grasp of neglect and abuse. I am proud to work with our majority leader, Mr. McCarthy, and my colleagues on the Congressional Caucus on Foster Youth to shed light on the perpetuation of poverty and dysfunction in our current system. We all must continue to work together and move forward in addressing our foster care system, and I emphasize Ms. Currier's statement on the importance of a loving home for every child. Honoring Judge Tom Eisele

Mr. HILL. Mr. Speaker, I rise today to honor the life and legacy of one of our Nation's great lawyers and judges and, for me, a mentor and a great family friend, District Court Judge Tom Eisele, who passed away this past Sunday at the age of 94. Tom faithfully served our Nation as a private in the Army in World War II; as an adviser to Governor Winthrop Rockefeller in the 1990s; and for the past 41 years as a member of the Federal judiciary, following his appointment by President Nixon in 1970. During his career, Judge Eisele was named Best District Court Judge in the Eighth Circuit by The American Lawyer and Outstanding Federal Judge by the Association of Trial Lawyers of America. He was a role model and a friend to many across the State of Arkansas and our Nation. I extend my respect, affection, and prayers to his friends, family, and loved ones. Love Little Rock Initiative

Mr. HILL. Mr. Speaker, I rise today to recognize the Little Rock Regional Chamber of Commerce's ``Love Little Rock'' initiative. This initiative is intended to both attract new business and encourage residents to become ``Love Little Rock'' ambassadors by sharing their pride using the #lovelittlerock hashtag. As a part of the campaign, the Little Rock Regional Chamber created the lovelittlerock.org website to highlight the numerous advantages of doing business in Arkansas' capital city. Led by Jay Chesshir, president and CEO of the Little Rock Regional Chamber, and Mayor Mark Stodola, this initiative is a powerful instrument for community development and business recruitment. Mayor Stodola proclaimed October 19 as Love Little Rock Day. I extend my thanks to the city of Little Rock for spearheading this campaign. As a native son, I am proud to ``Love Little Rock.''

Mr. HILL

Mr. HILL. Mr. Speaker, this morning I rise to express my concern about the opioid epidemic that is plaguing our Nation, hurting our families, reducing productivity, and, really, one of the most shocking things that we have been experiencing across this land. I want to recognize some people in Arkansas who are making a real difference. In 2015, 392 Arkansans lost their lives to drug overdose. This crisis is terrifying and is killing our young adults and breaking up our families. They have lost acquaintances, friends, classmates, and family members to the grip of prescription drugs and illegal substances. In Arkansas, Drug Director Kirk Lane is facing this issue head-on, coordinating the State's drug and alcohol prevention, treatment, education, and law enforcement efforts. Curt Bradbury, who lost his son to substance abuse in 2010, has been out front and a tremendous ally in the fight to curtail the abuse of controlled substances. His contributions helped start the Arkansas Prescription Monitoring Program, a database that tracks the prescription of controlled substances across our State. Jerry Jones' tremendous advocacy efforts in Arkansas led to the passage of Arkansas Act 820, requiring prescribers to check the Prescription Drug Monitoring Program every time they prescribe a Schedule II and Schedule III opioid. I am proud to recognize these three individuals this morning for their positive efforts at tackling this devastating epidemic affecting our families.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise in support of H.R. 1, the Tax Cuts and Jobs Act. With Chairman Brady's leadership, my colleagues and I worked hard to combine our ideas to help Americans across the Nation have lower taxes, better careers, and more money in their family budget. Over the past year, it has been a collaborative effort. I have listened to and worked with people and businesses about their ideas on tax reform from all across the Second Congressional District of Arkansas. With today's vote, we are one step closer to reforming our broken Tax Code. Over the past several months, we have worked to reduce taxes on families and let them keep more of their money. For businesses, we want to have a more competitive tax system that promotes investment, which will spur our economic growth and family prosperity. According to the U.S. Chamber of Commerce, H.R. 1 will raise after- tax incomes for hardworking Arkansans by over $2,000. Furthermore, H.R. 1 benefits families by increasing the child tax credit to $1,600, instead of $1,000. That helps over 50,000 taxpayers in my district. By passing this bill, it could lead to the creation of an additional 5,000 jobs.

Mr. HILL

Mr. HILL. Mr. Speaker, I thank my chairman. Mr. Speaker, I rise in strong support of this bill sponsored by my friend, Representative Sean Duffy. He has worked tirelessly in crafting a solution here, along with Representative Luetkemeyer, Representative Ross, and our full committee chairman, Mr. Hensarling. While the National Flood Insurance Program provides needed insurance coverage, it has numerous problems as currently constructed, and the 21st Century Flood Reform Act seeks to implement much-needed reforms in this program. In addition to reauthorizing the flood program for 5 years, this bill provides increased transparency to the public, provides more information to people living in harm's way about past damages and the risk of flooding, ensures mapping is timely and accurate, ties rates to risk, gives consumers greater choice in flood insurance options, and incentivizes mitigation and risk reduction. Currently, in Arkansas, we have one private insurer that offers flood insurance. A second underwriter is near approval by our Insurance Commissioner Allen Kerr. The benefits to the consumer through private insurance are significant, as noted by the Milliman study. For example, one private insurer in Arkansas covers up to $2 million in coverage per occurrence, Mr. Speaker, as opposed to the NFIP, which limits coverage to $250,000, across all rating categories at premiums substantially below the NFIP. Further, this private insurer can offer replacement value, reimbursement for living expenses if an individual or family is displaced by a flood. The NFIP does not. For almost 50 years, the experiment in government-provided flood insurance has proven to be ineffective, inefficient, and indisputably costly to hardworking taxpayers. The time for action is now. Mr. Speaker, I include in the Record USA Today, Washington Post, Washington Times, and Chicago Tribune articles. [From the USA Today, Sept. 7, 2017] Make Flood Insurance Reflect Actual Risk after hurricanes, taxpayers can't absorb ever increasing tabs: Our view In 1968, in the wake of Hurricane Betsy, Congress decided it had enough. Flooding was destroying too many homes, leaving financial and physical devastation in its wake. So lawmakers created the National Flood Insurance Program, a government-run insurance fund for homeowners in flood-prone areas. And that's when things got really bad. The NFIP has been losing money ever since. The program is nearly $25 billion in the red and is running annual deficits in the range of $1.4 billion. That's because it's a creation of Congress and therefore sets its premiums according to what is politically convenient rather than what is actuarially sound. With Hurricane Harvey devastating the Houston area, and Hurricane Irma bearing down on the Southeast coast, the program is certain to take a massive loss this year. What's worse, the NFIP's woes are self-generating. Because the premiums are well below what should be charged, this effectively subsidizes construction in flood-prone areas. And that means its losses grow as more flood-prone land is developed. Hurricane Katrina, which ravaged the Gulf Coast in 2005, exposed just how costly and counterproductive the program had become. In 2012, after years of debate, Congress enacted a law that made flood insurance rates more reflective of actual risks and expanded the areas considered flood-prone. This generated Category 3 blowback from homeowners and the real estate lobby, and in 2014 Congress passed another law undoing much of the first. Now, with catastrophic losses mounting and sea levels rising, it's time to revisit the issue. Making federal flood insurance more reflective of reality would only go so far in dealing with the problem of building in flood-prone areas. That's because many homeowners don't have flood insurance and because much of the damage that the government eventually pays for is not covered by the program. (Private insurance typically covers damage from wind but not water.) With Katrina, for instance, the flood insurance payout was $16.3 billion. But Congress passed supplementary spending of more than $100 billion to provide intensive relief and temporary housing, as well as fix broken levies. With Harvey and Irma, the federal tab beyond of flood insurance is likely to be even higher. Only an estimated 20% of homeowners in the area affected by Harvey even bothered with flood insurance, a number that has been dropping in recent years. But making flood insurance reflect actual risks is a vital first step in coming to grips with reality. In the past several decades, Americans have flocked to coastal communities, many of them in parts of the country prone to hurricanes. With the hit to taxpayers growing and the danger increasing, restraint--even some reversal--of this trend is needed. While people in the hurricane zones deserve disaster assistance and the nation's sympathy, taxpayers can't simply absorb ever increasing tabs for flood losses. The government needs policies that encourage people to build their homes in safer places. Harvey and Irma are just the latest sobering wake-up calls with that message.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today, during National STEM Day, to recognize the importance of encouraging our youth to pursue their interests in science, technology, engineering, and math fields. As technology continues to advance, STEM occupations continue to grow and become more valuable to the development of our society. Over the past decade, employment in STEM occupations has outgrown non-STEM occupations by nearly 20 percent. I commend the House's work in implementing the annual Congressional STEM App Challenge for students across our Nation. This competition allows students to compete by creating an idea for an app on a platform of their choice and is designed to engage student creativity and encourage their participation in STEM fields. As a member of the Congressional STEM Education Caucus and the father of a STEM student in college, I will continue to support the growth of STEM education throughout Arkansas and our country.

Mr. HILL

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

Mr. HILL

Mr. HILL. Mr. Speaker, I was absent from the House and missed votes on Tuesday, October 31, and Wednesday, November 1, due to a family commitment. Had I been present, I would have voted YEA on Roll Call No. 591; YEA on Roll Call No. 592; YEA on Roll Call No. 593; NAY on Roll Call No. 594; NAY on Roll Call No. 595; YEA on Roll Call No. 596; NAY on Roll Call No. 597; YEA on Roll Call No. 598; and YEA on Roll Call No. 599.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today to recognize my good friend Cody Hiland's appointment as the U.S. attorney for the Eastern District of Arkansas. A native of Conway, Arkansas, Cody graduated from the University of Central Arkansas and the William H. Bowen School of Law in Little Rock. He served as the prosecuting attorney for the 20th Judicial District of Arkansas since 2010. Before beginning his career in law enforcement, Cody was a partner at his own firm, a staff attorney and rural communication liaison for the Arkansas Public Service Commission, and the program director for the Arkansas Transitional Employment Board. His experience and activism truly embody all that communities need in the fight against crime. I am proud of this leader and consummate professional. He is devoted to law and order. He will be a great voice in reducing crime throughout central Arkansas. I congratulate my friend, Cody Hiland. Arkansas Advocates for Children and Families 40th Anniversary

Mr. HILL. Mr. Speaker, I rise today to recognize the joint efforts of the city of Conway, Faulkner County, the Faulkner County Historical Society, and Workin' Bridges, a nonprofit organization, that are collaborating to restore a historic bridge in Faulkner County, Arkansas. The Springfield-Des Arc Bridge, an iron bowstring arc bridge, is the oldest bridge in Arkansas and one of the oldest of its type in the country. The bridge was placed on the National Register of Historic Places in 1988. This bridge was originally constructed back in 1874 to facilitate travel between Faulkner and Conway Counties in the Second Congressional District. Over the years, the bridge faced continued operational wear and tear, three major floods, and lost its flooring to a fire. The bridge was decommissioned when the road was rerouted to a new and better concrete bridge. Faulkner County Historical Society and the city of Conway worked together to establish a restoration plan for the bridge and proposed to relocate it to Beaverfork Lake Park. The 146-foot structure was dismantled and transported to North Little Rock for cleaning and refinishing. The bridge now sits at Beaverfork Lake Park as a link between the swimming area and the fishing pier. Mr. Speaker, I thank all those who have worked so diligently over the years to preserve this historic bridge and give it a new use for a new generation. 50th Anniversary of Theodore Roosevelt Island

Mr. HILL. Mr. Speaker, I rise to congratulate Arkansas Advocates for Children and Families on the occasion of their 40th anniversary. AACF was established in 1977 by 10 Arkansans, including our former First Lady, Betty Bumpers, who were passionate about the status of children in our State. Over the past four decades, AACF has helped families throughout Arkansas to ensure that they have the resources and opportunities to lead healthy and productive lives. Working to promote good public policy that makes kids' lives better, AACF played an integral role in the creation of ARKids First and the expansion of quality pre-K for at-risk 3- and 4-year-olds. I would like to extend my congratulations to AACF and wish it much continued success for generations to come. Springfield-Des Arc Bridge Dedication

Mr. HILL. Mr. Speaker, tomorrow is certainly a historic day, as it is the 159th anniversary of our 26th President's birthday--Theodore Roosevelt--October 27, 1858. The National Park Service is also celebrating the birthday anniversary weekend with the 50th anniversary of the dedication of the Theodore Roosevelt Memorial on Theodore Roosevelt Island in the Potomac River across from Georgetown. That family-friendly program will be on October 29 from 9 a.m. to 4 p.m. The event will include addresses at 2 p.m. by President Roosevelt's great-grandson, Tweed Roosevelt, and other academics, who will talk about the amazing legacy of our 26th President, Theodore Roosevelt. I thank, also, the National Park Service for their outstanding work on Theodore Roosevelt Island, restoring the Theodore Roosevelt Memorial that is out on the island. It is one of the best places to visit when families come to Washington, D.C., on its very peaceful and tranquil island location in the Potomac River. The National Park Service, on this restoration work, collaborated with the Friends of Theodore Roosevelt Island and the Theodore Roosevelt Association. I congratulate them for their work; I congratulate them on the 50th anniversary of the Theodore Roosevelt Memorial on Theodore Roosevelt Island; and, of course, my hat is off to Teddy on the anniversary of his birth. Mr. Speaker, I yield back the balance of my time.

Mr. HILL. Mr. Speaker, I rise today during Breast Cancer Awareness Month to call attention to this topic that is so important throughout our Nation. With one in eight U.S. women, or 12 percent, developing breast cancer over the course of their lives, too many of us know someone who has been diagnosed with this tragic disease. I lost my mother as a result of breast cancer, and my friend and former district director, Jill Cox, was diagnosed with breast cancer in 2015. She attributes her strides in recovery to early detection and self-examinations. Many women with breast cancer have no symptoms, underscoring the importance of how regular breast cancer screenings and self- examinations can save lives. No test is too early. We all must continue to work together and move forward addressing breast cancer, and I urge my colleagues to continue their focus on this critical issue. Cody Hiland Appointment as U.S. Attorney

Mr. HILL

Mr. HILL. Mr. Speaker, I move that the House do now adjourn.

Mr. HILL

Mr. HILL. Mr. Speaker, I thank our distinguished subcommittee chairman for yielding. I am proud to support my colleague from Kentucky on his bill, H.R. 3898, the Otto Warmbier North Korea Nuclear Sanctions Act. I think it is important for all of us in this Chamber to know, as well as the people across this country, that there is no daylight between the two political parties in this capital, and there is no daylight between the United States Government and our Allied Governments around the world in working together to develop sanction regimes both bilaterally here in the United States and multilaterally across the world to end this nuclear threat. For 24 years, Mr. Speaker, we have had three Presidencies--we are in our fourth Presidency--dealing with this issue. This issue has not been handled. We have not sanctioned this regime. We have not enforced those sanctions. We have not obtained multilateral sanctions. We have not ever given the Kim dictatorship one reason to think that our government and our allied friends around the world are serious about ending the nuclear threat from North Korea. Mr. Speaker, I thank my friend from Kentucky for standing up in the Financial Services Committee and leading the way for secondary sanctions. I thank my friends, Chairman Royce and Ranking Member Engel in the Foreign Affairs Committee, for their work with this administration to end this threat to not only north Asia, our economic allies, our national security allies, but also our friends around the world. Mr. Speaker, I urge all my colleagues to support this important legislation.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today during National Suicide Prevention Month to call attention to this tragedy that is so prevalent and important throughout our Nation. Suicide is the tenth leading cause of death in the United States, and, on average, there are 121 suicides per day. Far too many Americans, about one in five, are suffering from some form of mental illness, a problem that has disrupted too many families, caused too much violence, pain, and cost too many lives. In Congress, we are working together on a bipartisan basis to bring needed reform to our mental healthcare system through the passage of the 21st Century Cures Act and the Clay Hunt Suicide Prevention for American Veterans Act. The Central Arkansas Veterans Healthcare System, led by Dr. Margie Scott, is one of nine systems nationwide currently involved in the Clay Hunt pilot program. This program gives our VA employees the necessary tools to reach out to high-risk veterans and offer guidance while providing essential suicide prevention services. Dr. Scott and Central Arkansas Veterans Healthcare System have made over 200 community connections throughout Arkansas to assist our veterans. We all must work together and continue to move forward in addressing the issue of mental health and mental health access, and do what we can to save the lives of all American citizens and reverse this deadly trend of suicides.

Mr. HILL

Mr. HILL. Mr. Speaker, it has been 8 days since Hurricane Maria slammed into Puerto Rico and impacted the lives of Americans there, who are now in dire need. Power and communications remain down; food, water, and fuel are scarce; infrastructure continues to crumble; and Americans are dying. Tackling recovery is urgent. I was pleased to see that President Trump has asked Brigadier General Richard Kim to go to the island and seek to lead. Because of the island's topography and isolation, this isn't a Houston, this isn't a New Orleans or a Florida. Rescue and relief isn't as easy as moving a convoy of power company trucks down the interstate highway. Logistically, this is much more difficult. Therefore, Mr. Speaker, I believe it is time to set up a joint task force, with one person in charge, able to make decisions and not get ``stuck on stupid,'' as one Army general famously said. That general, Russell Honore, turned around the government floundering after taking charge of Joint Task Force Katrina. On the ground, the joint task force can coordinate all public and private relief efforts, starting with putting our National Guard to work, reopening the air tower, clearing the roads, and opening a chow hall. I continue to pray for Puerto Rico, but each of us must understand our beloved island's crisis is very different.

Mr. HILL

Mr. HILL. Mr. Speaker, I move to suspend the rules and pass the bill (S. 327) to direct the Securities and Exchange Commission to provide a safe harbor related to certain investment fund research reports, and for other purposes.

Mr. HILL. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I thank the gentleman for his comments, and I do appreciate the work in the Senate that improved this bill. I think it is important to note that this will make this research flow, and in no way will it, I think, confuse investors; in fact, it enhances their investment. Mr. Speaker, I reserve the balance of my time.

Mr. HILL. Mr. Speaker, I yield back the balance of my time.

Mr. HILL. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I am pleased that the House is considering S. 327 today, the Fair Access to Investment Research Act. This is the Senate companion to my bill, H.R. 910, that I had the pleasure of working on with my friend from Illinois (Mr. Foster) in this Congress and our colleague in the last Congress, now Governor Carney of Delaware. Mr. Speaker, occasionally on this floor, we don't compliment our colleagues in the upper Chamber at the other end of the building, but we have to say today ``thank you'' to Senator Crapo and Senator Brown for advancing a number of securities-related bills in the last few days which we appreciate seeing coming back to the House, including S. 327. This bill contains the same language as H.R. 910, which passed the House in May with overwhelming bipartisan support by a vote of 405-2. S. 327 also includes some Senate amendments that add some additional clarifications to the bill: First, it clarifies the conflict of interest provision by precluding dealers from issuing research on affiliated exchange-traded funds. Second, it carves out closed-end funds, including business development companies. Finally, it includes a specific definition of ``affiliated person,'' which matches the definition of an ``affiliated person'' in section 2(a) of the Investment Company Act of 1940. Since starting an investment firm back in the late 1990s, I have watched exchange-traded funds grow amazingly. ETFs have grown from about 100 funds, in the late 1990s, with over $100 billion in assets, to now over 1,700 funds with over $3 trillion in assets. Exchange- traded funds can average 30 percent of the trading volumes by value on any given day on our markets. Yet, despite their growing popularity and increasing importance to retail investors, most broker-dealers do not publish research on ETFs. This is due to anomalies in our securities laws and regulations. S. 327 tackles those anomalies. Given the importance of ETFs to investors, and particularly retail investors, steps to facilitate research on exchange-traded funds are long overdue. The Fair Access to Investment Research Act is simple. It directs the SEC to provide a safe harbor for research reports that cover ETFs so that these reports are not considered offers under section 5 of the Securities Act of 1933. This allows ETF research to be issued just like stock research on a corporate issuer. This commonsense proposal, which mirrors other research safe harbors implemented by the SEC, would clarify the law and allow broker-dealers to publish exchange-traded fund research, thereby allowing investors to access that very useful and needed information in this rapidly growing and occasionally complex market of choices. This bill also holds the SEC accountable to follow Congress' direction. The bill requires the SEC to finalize the rules within 270 days, and if the deadline is not met, an interim safe harbor rule will take effect until the SEC's rule is finalized. Mr. Speaker, this issue is not unfamiliar to the Commission, as this proposal has been raised both by the Commission and by industry many times over the last two decades. With close to 6 million U.S. households holding ETFs, investors need access to this important research. Having worked in the banking and investment industry for the past three decades, I appreciate Chairman Hensarling and the Congress' efforts to promote capital formation, reduce unnecessary burdens, and grow jobs and the economy. S. 327 is another step in that process. I also want to thank my friend, Mr. Foster of Illinois, for working on this legislation, and our colleague in the Senate, Senator Heller of Nevada, for working with me on this bipartisan, commonsense fix that we worked on together for over 2 years. Mr. Speaker, I urge my colleagues to support this bill, and I reserve the balance of my time.