J. Hill

Mr. HILL of Arkansas

Mr. HILL of Arkansas. Mr. Speaker, I move to suspend the rules and concur in the Senate amendment to the House amendment to the Senate amendment to the bill (H.R. 6644) a bill to increase the supply of housing in America, and for other purposes.

Mr. HILL of Arkansas. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on this bill.

Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise today in strong support of the 21st Century ROAD to Housing Act. America is facing a housing supply shortage that has been years in the making. For too many of our families, the consequences are felt every day through higher home prices, rising rents, and fewer opportunities to achieve homeownership. Over the last several months, I have worked with our colleagues in both the House and Senate and on both sides of the political aisle to advance practical legislation that addresses this pressing challenge for our American families. The 21st Century ROAD to Housing Act represents one of the most significant bipartisan housing reforms in recent memory, bringing together commonsense policies to expand housing opportunities and improve affordability for our families. Mr. Speaker, it cuts unnecessary barriers to new home construction. It modernizes Federal housing programs. It streamlines development processes. It helps create the conditions necessary to build more homes and increase housing supply. The bill also strengthens the roles of our Main Street community lenders by modernizing outdated banking regulations and allowing banks to more effectively deploy capital in the communities that they serve. These reforms will help community banks focus on what they do best: providing loans to families seeking to purchase a home and financing the construction of new housing. Importantly, the Senate adopted several key House priorities, including House language that limits institutional investors from outcompeting with American families looking to buy a home. At a time when too many of our families are struggling to purchase a home, this provision helps to ensure that American families have a fair opportunity to achieve that American Dream of homeownership. Importantly, the House worked with the Senate to ensure that feedback was incorporated to other provisions added in the Senate amendment. These provisions were the VALID Act, introduced by my great friend in the Senate across the Capitol, Arkansas Senior Senator John Boozman; edits from Ranking Member Waters on the Rental Assistance Demonstration Program; Senator Kennedy's groundbreaking initiative on the Build Now Act; and, importantly, sunsets to the programs offered by the Senate: CDBG-DR, Community Development Block Grant Program for Disaster Recovery, and the PRICE Act. We focused on improving HUD accountability to benefit both our residents in our districts and taxpayers. This final product advances practical bipartisan and bicameral solutions to modernize Federal housing programs, reduce regulatory burdens, streamline the development process, and help build more homes to meet that growing demand and keep the American Dream within reach. This bicameral, bipartisan bill before us today reflects ideas from both Chambers and demonstrates what can be accomplished when Congress focuses on solving problems for the American people. Mr. Speaker, this is Congress working at its best, tackling the challenges of the American people, offering solutions, and having those enacted into law. I am proud to support this legislation, and I urge my colleagues to do the same. Mr. Speaker, I reserve the balance of my time.

Mr. HILL of Arkansas. Mr. Speaker, I yield 4 minutes to the gentleman from Nebraska (Mr. Flood), who is the chair of the Housing and Insurance Subcommittee and has been the leader on building consensus on this bill.

Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman from Michigan (Mr. Huizenga), the vice chairman of the Financial Services Committee.

Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman from Kentucky (Mr. Barr).

Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman from New York (Mr. Lawler).

Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentlewoman from California (Mrs. Kim).

Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentlewoman from Texas (Ms. De La Cruz).

Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman from Florida (Mr. Haridopolos), who is our vice chairman and whip of the committee.

Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman from North Carolina (Mr. Moore), who is a distinguished member of our committee.

Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I want to say that the work has been extraordinary between the majority and the minority in this House in answering the call for solutions from the American people. I think Mr. Cleaver said it best talking about his own experience within his own family in east Texas: We always had a home, but we just didn't always have a house to put it in. Let that hang in this room, Mr. Speaker, because that is the spirit in which both sides of the aisle have worked to find solutions today. We couldn't do it without our staff. I thank the majority and the minority staff from both sides of the aisle who helped us get to where we are today. Mr. Speaker, as referenced in the previous colloquy that I had with the ranking member when we were on the floor a few weeks ago, we believe there are several points the Treasury should consider as it evaluates the congressional intent in implementing section 1001 of this bill, the 21st Century ROAD to Housing Act. Entities organized as nonprofits under section 501(c)(3) of the Internal Revenue Code that are exempt from taxation under section 501(a), as well as community land trusts, as defined in the Cranston- Gonzalez National Affordable Housing Act and amended by our bill today, should not be included in the definition of a large institutional investor. It is also Congress' intent that nothing in the act should be construed to require a large institutional investor to divest or sell any home purchased before or after enactment. The term, Madam Speaker, ``single-family home'' was also not intended to include property that when occupied is rented to a member of the Armed Forces or a member of the National Guard as defined in section 101 of title 10 of the U.S. Code. Similarly, section 1001 should not reduce the supply of essential rental housing in our communities and should exclude student housing leased by bedroom to unrelated individuals under separate agreements. Similarly, homes purchased by mortgage servicers for loss mitigation reasons following a foreclosure, not as long-term investments, should remain permissible when the mortgage is federally backed, as defined in section 4022(a) of the CARES Act, and the servicer first offers a first-look period to the owner-occupant or a nonprofit approved by the relevant Federal agency. However, the bill prohibits large institutional investors from purchasing single-family homes by participating in homeownership programs that do not meet the criteria under the act. For build-to-rent programs, this exemption should apply when an investor purchases, constructs, or constructs and retains a single- family home for rental use, whether in a community comprised entirely of renter-occupied single-family homes or in a mixed community of owner- and renter-occupied homes. Clarifying this distinction is essential to carrying out the intent of the House and Senate in this bill. Additionally, purchases of homes used to provide residential care for individuals with disabilities or developmental disabilities or in senior living communities should be exempt as these are unrelated to the problem being addressed by the act. The same is true for the exemption of homes purchased with support from programs described in section 42 of the IRS code or participating in Federal or other affordable housing programs where rents are restricted. Congress also intended exemptions for homes acquired as a part of a community of five or more contiguous rental units, and homes planned, permitted, financed, and constructed as a part of a unified rental community on a single platted parcel that are not intended for individual sale, as well as properties that are made up of multiple rental homes or units constructed on a single parcel of property that cannot be legally sold as individual homes or the units without further subdividing the property. The ranking member and I recognize that these regulations issued by the Treasury will be necessary to implement various aspects of the act that we debate today. The overall reaching goal of section 1001 is to expand the number of single-family homes available for purchase by individual households. Regulations that do not meet that objective will fall short of congressional intent and risk reducing, not increasing, the availability and affordability of housing across our great country. Madam Speaker, I reserve the balance of my time.

Mr. HILL of Arkansas. Madam Speaker, I yield myself the balance of my time. Madam Speaker, I thank the ranking member for her partnership on this housing bill that is groundbreaking, historic, and that is the first time in decades that the two Chambers have come together to make measurable, accountable changes that will benefit the American people in both accessibility, the construction of more units, and the affordability that our families so richly need and deserve over these past years of recently high inflation, particularly. I thank her for her partnership. Madam Speaker, I will also say that I have talked to community development and housing refinancing people in Little Rock, and they all tell me that this is so overdue. I thank the gentlewoman for her passion in getting this done. Whether it is in Cotton Plant, Arkansas, or Helena, Arkansas, or St. Louis, Missouri, or Los Angeles, California, or Little Rock, Arkansas, we are also, in this bill, holding HUD accountable. HUD has a responsibility for safe, clean, and effective housing for the tenants dependent on their programs. Not only are we building supply and improving affordability, we are also in a bipartisan, bicameral basis holding the Department of Housing and Urban Development accountable. Madam Speaker, I urge a ``yes'' vote, and I yield back the balance of my time.

Mr. HILL of Arkansas. Madam Speaker, on that I demand the yeas and nays.

Mr. HILL of Arkansas

Mr. HILL of Arkansas. Mr. Speaker, I thank the gentleman for yielding, and I thank my colleagues on both sides of the aisle because there are not people on the floor of the House that support Putin. There are not people on the floor of the House tonight that support Russia's invasion of Ukraine. I rise to speak, however, in opposition to H.R. 2913, the Ukraine Support Act, and explain, in my judgment, the flaws in this bill. I stand here concerned and somewhat sad that I am here because no one has been a more steadfast supporter of Ukraine than I have, in my judgment. I thank my colleagues on the Democratic side of the aisle and the Republican side of the aisle who have been so passionate. I have consistently advocated and voted in support of Ukraine. I have consistently advocated for increased sanctions on Russia. My record of supporting Ukraine is strong. I have made two trips to Kyiv and two other trips to the region, all to rally support in rejection of Putin's stand in Ukraine and call for his defeat. I led the design and successful passage of the REPO Act in this House and in this Congress to convert billions of dollars of Russian foreign assets for use in Ukraine. Unfortunately, today, we are confronted, as my good friend from New York noted, with a flawed measure. First, this bill is 14 months old, and therefore, it doesn't recognize all the changes that have happened over the past year. It actually cuts $100 million in authorized funding for Ukraine annually. The funding cuts do not reflect what the House agreed to in our bipartisan NDAA. It does not reflect the commitment that our NATO allies have made and only calls for a 2 percent pledge of their GDP in support of NATO when, in fact, President Trump has gotten our NATO allies to pledge 5 percent of their GDP in defense spending. We would be walking back from our own spending plans here, and we would be walking back from the commitment we have gotten from our European allies. But the bill has other issues that I am concerned with. It lists ``Iran provisions'' in the document rather than refer to Russia. The bill includes poorly written sanctions policy, including duplicative sanctions that are already in place. It mandates certain sanctions without any link to a strategic goal of what those sanctions would achieve or meaningful behavioral change in Moscow. It includes sanctions on financial messaging services like SWIFT, which I think are exaggerated, and in my judgment, could cause countries to move to a Chinese messaging system rather than a Western- based system. So there are others, and that is why I have disappointment today that I am on this House floor in opposition to it. I agree with my friend from New York, too, that this House should take up a bill that can pass and have bipartisan support to counter Putin and send a message from both Chambers in this Capitol that we reject Putin's invasion of Ukraine and the murderous regime that he leads. My better alternative is the Financial Services bill passed almost unanimously by Zach Nunn called the PEACE Act. It would cut off Russian energy revenues, channel billions from Moscow's sovereign assets to Ukraine to defend itself, and it is past time for that bill to be on this House floor. I have urged House leadership to bring the PEACE Act to the floor. I again ask House leadership to bring the PEACE Act to the floor. This is a well-crafted bill that will hold Putin accountable, hold Russia accountable, and will demonstrate that on a bipartisan, bicameral basis this Congress is for Putin leaving Ukraine, Ukraine having a sovereign nation, and this country having a great new friend on the Continent of Europe.

Mr. HILL of Arkansas

Mr. HILL of Arkansas. Mr. Speaker, I rise in support of the Sharri Briley and Eric Edmundson Veterans Benefits Expansion Act. Central Arkansas is home to many of our brave veterans and Active- Duty servicemembers stationed at Little Rock Air Force Base and the Arkansas National Guard headquarters at Camp Robinson. It is also home to Sharri Briley, the devoted surviving spouse of Donovan Lee ``Bull'' Briley, an Army Special Operations Black Hawk helicopter pilot tragically lost in Operation Gothic Serpent, known to all Americans as ``Black Hawk Down.'' Sharri is our Gold Star family voice for the people of Arkansas. Central Arkansas and our Nation have benefited significantly from Sharri Briley's work, which helps families of deceased servicemembers. This bill is partially named after her because of that leadership. I am proud to be an original cosponsor of this bill, which increases benefits for catastrophically injured veterans, their families, their survivors; raises survivor benefits by an extra 1.5 percent over 2 years; and expands VA home loan program eligibility requirements, importantly, Mr. Speaker, for the Guard and Reserves from 90 days of Active-Duty service to 14 days of Active-Duty service. This bill is fiscally sensible and supported by over 20 veterans groups across this land, including the VFW and The American Legion. This bill honors our Nation's promise to care for our veterans, their survivors, and their families. I urge support on both sides of the aisle.

Mr. HILL of Arkansas

Mr. HILL of Arkansas. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 1993) to require the Secretary of the Treasury to mint coins in commemoration of the 25th anniversary of the September 11, 2001, terrorist attacks on the United States and to support programs at the National September 11 Memorial and Museum at the World Trade Center, as amended.

Mr. HILL of Arkansas. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on this bill.

Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I include in the Record the Congressional Budget Office estimate on this bill. Legislation Considered Under Suspension of the Rules The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. Under suspension, floor debate is limited, all floor amendments are prohibited, points of order against the bill are waived, and final passage requires a two-thirds majority vote. At the request of the Majority Leader and the House Committee on the Budget, CBO estimates the effects of those bills on direct spending and revenues. CBO has limited time to review the legislation before consideration. Although it is possible in most cases to determine whether the legislation would affect direct spending or revenues, time may be insufficient to estimate the magnitude of those effects. If CBO has prepared estimates for similar or identical legislation, a more detailed assessment of budgetary effects, including effects on spending subject to appropriation, may be included.

Mr. HILL of Arkansas. Mr. Speaker, I rise today in strong support of H.R. 1993, the 25th Anniversary of 9/11 Commemorative Coin Act. I thank my colleagues, Representatives Garbarino, Lawler, and Goldman, along with every other Member who supported this effort, for introducing this important legislation honoring a pivotal moment in our Nation's history and remembering the lives so tragically lost on that horrific day. Mr. Speaker, the terrorist attacks of September 11, 2001, transformed our country. Nearly 3,000 innocent Americans lost their lives in New York City, at the Pentagon, and in the field in Shanksville, Pennsylvania. In the face of unimaginable tragedy, the American people demonstrated extraordinary courage, resilience, and unity. This bill recognizes the importance of preserving the memory of that horrible day and honoring those who made the ultimate sacrifice. H.R. 1993 authorizes the creation of a commemorative coin program marking the 25th anniversary of 9/11, giving Americans a meaningful way to participate in remembrance and reflection. Mr. Speaker, the proceeds from this program will support the National 9/11 Memorial & Museum at the World Trade Center in New York City, honoring the memory of the victims and the heroic first responders who ran up those stairwells to try to save their fellow Americans. I especially want to recognize the firefighters, law enforcement officers and emergency personnel, and servicemembers, whose bravery and selflessness embodied the very best of our Nation in one of our most dark hours. The United States Mint has a long history of producing commemorative coins that recognize moments of profound national significance, and this legislation, Mr. Speaker, continues that tradition. As we approach this momentous 25th anniversary of September 11, it is fitting that this House considers legislation that reflects our shared history and reaffirms our commitment to never forget the lessons of that day. I am proud to support this effort. I urge all of my colleagues on both sides of the aisle to do the same, and I reserve the balance of my time.

Mr. HILL of Arkansas. Mr. Speaker, I yield 2 minutes to the gentleman from New York (Mr. Lawler), who represents that State so ably and who witnessed firsthand the destruction on 9/11. I am grateful for Mr. Lawler's work in promoting this bill on the Republican side of the aisle.

Mr. HILL of Arkansas. Mr. Speaker, I yield an additional 30 seconds to the gentleman from New York.

Mr. HILL of Arkansas. Mr. Speaker, I yield 2 minutes to the gentleman from New York (Mr. Garbarino), the chairman of our Homeland Security Committee who is also a distinguished member of our House Financial Services Committee.

Mr. HILL of Arkansas. Mr. Speaker, I yield myself the balance of my time. Let me say how heartwarming it is to see Members on both sides of the aisle recall the service and sacrifice of 9/11 as we prepare for the 25th anniversary. I think it is a fitting way to demonstrate America's belief in its future and remembrance of a day that deserves to never be forgotten, like we experienced on 9/11. I thank the ranking member of the full committee for working with me to present this bill to the House today. I urge all of my colleagues on both sides of the aisle to support it, and I yield back the balance of my time.

Mr. HILL of Arkansas

Mr. HILL of Arkansas. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 3234) to amend the Federal Deposit Insurance Act to modify the amount of reciprocal deposits of an insured depository institution that are not considered to be funds obtained by or through a deposit broker, and for other purposes, as amended.