Daniel Kildee

Mr. KILDEE

Mr. KILDEE. Mr. Chairman, I align myself with the remarks of my friend, Mr. Norcross, and that of my friend, Mr. McKinley. There is bipartisan opposition to this amendment because we know what it would do. You can talk about it any way you want to talk about it, but the net effect is reduced wages for workers in the communities we represent. I come from Flint, Michigan. I represent folks who play by the rules and have the right, after working in a trade, to get compensation that is equal to the quality of the work that they deliver. If we don't support that, all we are going to do is continue this race to the bottom. We all talk about the fact that wages have not kept up. Here is yet another effort that will undermine the ability of American workers who work hard every single day to be able to have a decent wage, take care of their families, put their kids through school, and set something aside for retirement. This is the American Dream. Back in the 1930s, this is why this legislation was first put in place. This amendment would undermine that promise. Mr. Chairman, I urge a ``no'' vote.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, yesterday, the nonpartisan Congressional Budget Office confirmed that the Senate version of the Republican healthcare bill, TrumpCare, is even meaner and more heartless than the House-passed version. It is so mean that already some Republican Senators have come out opposing even bringing this bill to the floor for debate. But, of course, that won't be the end of it. We should beware of the backroom deals that will be attempted to get Republican Senators on board to move this terrible bill forward. But any amount of window dressing or backroom deals won't change the basics. This bill will require Americans to pay higher costs. Don't just look at premiums. Look at the out-of-pocket expenses that Americans will have to pay. It will go up for worse care and for less coverage. If you are age 50 to 65, get ready, because you will see an age tax. You will have to pay up to five times what younger, healthy Americans will pay. Of course, this bill, because it rewards those at the very top, steals from Medicare. It makes Medicare less sustainable. We ought to reject this legislation. We ought to do it now, and we ought to send that message to every Member of the U.S. Senate.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, yesterday, in my hometown of Flint, Michigan, there was a violent attack on a police officer at Flint Bishop International Airport. And like many in my community, I am shocked and horrified by this cowardly attack. My thoughts are with injured officer, Lieutenant Jeff Neville, and his family; and I am relieved that he is in stable condition. He is expected to recover. I have known Jeff for decades, dating back to our service together in county government. He is a true public servant, and he is deeply committed to the community that he serves. His actions to subdue the attacker, even while he was under attack, are truly heroic. He helped save others from potential harm. I also want to thank those individuals who put themselves in harm's way to help Lieutenant Neville, including the Bishop chief of police, Chris Miller, and an airport maintenance worker who stepped in, Richard Cruell. Their actions saved lives. I am thankful that the FBI, the Michigan State Police, the Flint Police, and other agencies are investigating this terrible attack as a potential incident of terror. I just hope all my colleagues will join me in extending their prayers to Lieutenant Neville and his family in hopes for his speedy recovery.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, Senate Republicans are continuing to craft their healthcare bill, TrumpCare, in complete secrecy, behind closed doors, no hearings, no bill text, no transparency whatsoever, and they expect to bring this bill to the floor next week. The bill is secret, but it is pretty clear why they are keeping this legislation secret: because it is a lousy piece of legislation and the American people reject it because it takes away healthcare from 23 million Americans. For those who are fortunate enough to have healthcare, they will pay more for worse care. You will pay an age tax if you are an older American just to have access to healthcare. Even President Donald Trump says this healthcare bill is mean. And let's just face the obvious. If Donald Trump says something is mean, you have got a real problem. This legislation should go through the process of open debate and dialogue, not be crafted in secret because it is such a bad piece of legislation that the people offering it are embarrassed for the folks in America to know what it says. We have to shut this down.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, the American people are speaking up, and they are absolutely terrified of the Republican healthcare plan, TrumpCare. According to a FOX News poll, two-thirds of Americans disapprove of TrumpCare. That's a FOX News poll. Why? Because it will take away healthcare from 23 million Americans. For those who still have the good fortune of being able to get insurance, they will pay more for worse care. If you are age 50 to 65, fasten your seatbelts; you are about to pay five times what others will pay for health insurance and for prescription drugs. Of course, in the Senate, they are crafting their version of TrumpCare in secret, behind closed doors. Nobody knows what is in it. Why? Because they know the American people will reject it. We know we have got issues we have to deal with in healthcare. No law is perfect, and the ACA is one of those. But my goodness, you cannot do this behind closed doors. We have to do this in public. People need to understand what Congress is doing. We have got to get it right, and we have to do it in the open.

Mr. KILDEE

Mr. KILDEE. Mr. Chairman, I thank the ranking member for yielding. I understand the President of the United States himself has no real understanding of American history, but that is no excuse for this body for ignoring even the recent history of this country and returning us to the conditions, to the regulatory environment that not only preceded but contributed to cause the worst financial crisis that I have experienced in my lifetime, the Great Recession. Millions of people lost their homes. Millions of people lost their job and lost everything they worked for because they were completely unprotected against institutions and organizations that were predators against them. This proposed legislation would take away those very protections and return us to a time when institutions and organizations can use unfair and deceptive practices, and the Consumer Financial Protection Bureau under this legislation would be barred--would be barred--from going to bat for those people being taken advantage of. This makes no sense. We ought to reject it, and I urge my colleagues to join me in doing so.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, this week the House considers the ``Wrong'' CHOICE Act, so I have one question for this body: Has this House completely forgotten how much pain the housing crisis that triggered the Great Recession has caused the American people? Eleven million people lost their homes; 8 million Americans lost their jobs; people lost their life savings--and that was not some sort of an accident of history. It was the effect of bad policy that allowed financial institutions to prey upon unwitting customers and take everything that they have worked for. That is what precipitated this crisis. It wasn't a storm. It was bad policy. And so what do we have? A bill that will take us right back to where we were, to the conditions that caused the financial crisis in the first place, and take the cop off the beat, essentially eliminating the Consumer Financial Protection Bureau to protect people. We cannot do this. Let's reject this bill.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, well, the President's budget is shortsighted. It is reckless. Hopefully, it is dead on arrival when it lands here in the House. President Trump and Republicans want to throw billions of dollars more on defense programs and drastically cut investments in job training, afterschool programs, and lifesaving medical research. Think about this: It cuts Social Security disability benefits. If you are a worker in Saginaw looking for your next job, you are out of luck. President Trump wants to cut worker training programs. If you are a senior in Bay City, Michigan, and you depend on Meals on Wheels, too bad. President Trump wants to take away those meals, take away that contact that you have. If you are a parent in Flint with a child in Head Start just trying to find a way forward, too bad. President Trump's budget will cut support for education and for early childhood education. A budget is a statement of our values. What does this document say about the values of this President? We must reject the President's proposed budget. It is bad for America.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, I am pleased that a special prosecutor has been named to conduct an independent investigation into Russia's meddling in our 2016 election and any connections between the Trump campaign and Russia. Appointing Robert Mueller is a step in the right direction, but he must be able to operate independently, without interference from the White House, without interference, even, from the Justice Department or any other administration officials. We must also keep in mind that this particular investigation will be limited in its scope in the sense that it will be looking only at counterintelligence issues and only at potential criminality arising out of the investigation. What it won't do is give us that bigger picture, give the American people the sense of the connection that may have occurred between the campaign of Donald Trump and the Russians. In order to get to that, in order to restore faith and confidence in our democracy and our national security, we need an independent commission to look at that bigger picture and let Congress deal with the big questions that the American people sent us here to address. That is the direction we must take.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, it seems like, with this White House, there is a new crisis every single day. On Monday, it was reported that the President revealed classified information in the Oval Office to Russians, compromising our national security, compromising our ability to gather intelligence on ISIS, compromising our ability to keep America safe. Now we learn that the President tried to interfere with an ongoing investigation, asking the head of the FBI to lay off his National Security Adviser, Mr. Flynn, to leave it alone, to let it go. This is an abuse of power, there is no two ways about it, and Democrats and Republicans have to stand up and do our constitutional duty to protect this democracy. Partisanship has to be set aside. We have to do our job. We have to serve the American people, and we have to protect this precious democracy and do our constitutional duty. Democrats and Republicans both have to stand together on this. We need an independent commission to investigate this problem, and we need to do it now.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, in revealing classified information to the Russians, President Trump has compromised our ability to defend ourselves against ISIS to gather intelligence against them, and he has jeopardized our relationships with allies across the globe. Make no mistake about it, the President's actions were reckless. They are indefensible, and they make America less safe. Republicans cannot stay silent. There are serious questions about the President's carelessness, about his lack of judgment. In fact, last July, the Speaker said that individuals who are extremely careless with classified information should be denied further access to it. Even the President's own Chief of Staff said those who mishandle classified information have had their security clearances revoked. They have lost their jobs. They have faced fines. Some have gone to prison. I have to ask my colleagues, shouldn't the President of the United States be held to that same standard? They say he can do what he wants, but does that make it smart? No. Does that make it right? No. Does it make it less safe? Absolutely.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, Republicans in Congress and now President Trump are twisting arms and trying to make a deal to get their terrible healthcare bill through this House of Representatives. It is so interesting to note that they are working really hard to make sure they can have a vote, if they can, before Members have to go home and speak to the people that they work for. Why would that be? Why would they be so fearful of having to go back and explain what is happening? They would rather go back and say: It is too late. I already voted for it. Sorry. They do that because they know this is a bad piece of legislation. Don't just take it from me. Other Republican Members have said things like: This legislation provides health care in name only or it torpedoes protections for people with preexisting conditions. No one should be fooled by this last-minute ditch effort to put some money on the table as if it is enough to provide support for preexisting conditions. Let's be clear, this change eliminates the guarantee that you can get coverage if you have any sort of preexisting condition. We should reject it.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, I ask the United States House of Representatives join me in recognizing Mr. Stan Gooch, of Grand Blanc, for his tremendous, lasting impact in the field of basketball in the Flint area, as well as the State of Michigan as a whole. Anyone who knew Stan will tell you that he was much more than a coach to our community. He was a man who loved his players and truly loved the game of basketball. As the Member of Congress representing the Fifth District of Michigan, I am honored to recognize his life and to have represented Stan. In 2008, Stan was inducted into the National High School Athletic Coaches Hall of Fame after building a legendary basketball program over the span of 41 years, retiring in 2000. Throughout his four decade-long career, he established himself as a genius coaching high school basketball and was recognized and respected for his skills by colleagues. During his career, he led his Flint Central basketball team to three straight Class A State Championships, from 1981 to 1983. This success, many of his fans believe, is attributed to a coaching system of `organized chaos.' Former players saw him as ``one of the greatest high school coaches in this area.'' Not only was he inducted into the National High School Athletic Coaches Hall of Fame, Stan's stellar career gained him entrance into the Greater Flint Area Sports Hall of Fame, the Michigan Basketball Coaches Association Hall of Fame, and the Michigan High School Coaches Association Hall of Fame. It is worth noting, though, that he went beyond simply being his players' coach. He established himself as a mentor to several of the young men he coached, staying in their lives even after high school. He was also responsible for molding some of these high school students into successful, professional athletes. For these and many other reasons, I feel compelled to honor the life of Stan Gooch. I hope that his legacy, as a coach and a man, will never be forgotten.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, well, here we are, 100 days into President Trump's Presidency, and all we have seen is this President break the promises that he made when he campaigned for President. He promised, for example, that we would have ``everyone covered with health care.'' Everyone. Then as President, he broke that promise. Last month we saw him put forth his failed and terrible healthcare bill, TrumpCare, which would kick 24 million people off their health care. And even for those who would receive health care, they would pay more for less coverage: higher deductibles, higher prescription costs, no guarantee of hospitalization coverage or other essential benefits. He is not looking out for the middle class. TrumpCare 2.0 is even worse, taking away a guarantee that a person with a preexisting condition can get essential lifesaving health care. President Trump, I just have one message: Stop it. Stop. Turn back from this terrible path you are taking us on. Ensure that all Americans have health care. Work with Democrats and Republicans to fix the problems we see in the Affordable Care Act, but stop this terrible path that you are taking this country on.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, last week in Michigan, I toured the Bay Area Women's Center, which provides emergency shelter and counseling to survivors of domestic violence or sexual violence and their children. I toured the Women's Center to get a better understanding of their important work and see what they do and how they would be impacted by President Trump's proposed budget cuts. Two-thirds of the Women's Center's budget comes from Federal grants through the Violence Against Women Act, one of the first bills I cosponsored. I saw it signed into law by President Obama. I am concerned that the cuts that President Trump has proposed would effectively eliminate the important lifesaving care and rescue this organization provides to women, children, and others facing domestic violence. There are 15,000 citizens in mid-Michigan who could lose access to these lifesaving, important services. What kind of country are we if we don't provide this sort of support to our most vulnerable citizens at the moment of their need? We need to reject these dangerous cuts.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, Republicans are now joining Democrats in calling for Chairman Nunes to recuse himself from the House Intelligence Committee's current investigation into Russia's interference in the 2016 election. By working hand in glove with the White House around an investigation that centers on the President and his administration, the chairman has blown the integrity of this investigation. Through his actions, he has shown he cannot lead an impartial investigation. His actions demonstrate why Congress must establish a bipartisan, independent commission to investigate President Trump's political and personal business ties to Russia. The majority of the American people favor an independent commission, outside of Congress, according to polling done by the Associated Press. This is a serious matter. Our democracy is at stake. Our national security is at stake. Congress must call a bipartisan, independent commission to investigate these troubling connections between President Trump and Russia.

Mr. KILDEE

Mr. KILDEE. Mr. Speaker, I yield myself such time as I may consume. H.R. 1343, Encouraging Employee Ownership Act of 2017, eliminates important disclosures that private companies must provide to their employees in the event they are compensating those employees with stock. This bill would limit transparency. If companies want to pay their employees in stocks, they should have to simply disclose to their workers the risks associated with those investments. Currently, private companies can provide up to $5 million worth of stock compensation annually to their employees and are not required to provide any financial disclosure. This bill would lift that cap to $10 million. If companies choose to provide an employee with stock compensation, they should be required to inform that employee of the appropriate financial information, benefits, and the risks associated with that investment, including 2 years of company financial statements. All of this information is commonly available to typical investors. Let's be clear: this stock is compensation for their work. Employees deserve to understand the value of their compensation prior to accepting it. They deserve the same protections that other investors would get. I agree with Professor Mercer Bullard, who is a professor of law at the University of Mississippi School of Law, who testified before the Capital Markets, Securities, and Investments Subcommittee voicing his concerns about the bill. In his testimony, he noted that to take advantage of the terms of this legislation, an issuer would have to have at least $34 million in total assets. Surely, such minimal disclosures are not too burdensome for those sort of companies. I do also understand that some proponents of this legislation argue that such an exemption is needed because disclosure of company information to employees runs the risk that confidential information could be leaked to competitors. Employees with access to such information could simply be subject to nondisclosure agreements, which are typical today. Indeed, nondisclosure agreements are a simple solution that protects the company, but does not deny the employees the right to understand the worth of, or the risks associated with, the compensation they are receiving. Unfortunately, this bill would limit that transparency and those protections. Mr. Speaker, I oppose this legislation, and I reserve the balance of my time.

Mr. KILDEE. Mr. Speaker, I yield 6 minutes to the gentleman from Minnesota (Mr. Ellison), a member of the Financial Services Committee.

Mr. KILDEE. Mr. Speaker, I yield an additional 2 minutes to the gentleman from Minnesota.

Mr. KILDEE. Mr. Speaker, I yield 4 minutes to the gentleman from Maryland (Mr. Delaney), a member of the Committee on Financial Services, my classmate, and a cosponsor of this legislation.

Mr. KILDEE. Mr. Speaker, I yield an additional 1 minute to the gentleman from Maryland.

Mr. KILDEE. Mr. Speaker, I yield myself such time as I may consume. I appreciate the comments of my colleague and friend. I do, however, disagree that the question here derives from a lack of understanding of the legislation. I think it is entirely possible--in fact, I would suggest that it is likely--that members of a body such as this, from 435 distinct districts and different experiences, can look at the same information, fully understand it, and come to different conclusions as to what sort of policy ought to be in place, and that is where I have landed on this particular subject. I fully understand. I also think it is important to note that we can't on one hand say that this is not about disclosure and on the other hand mention that these disclosure requirements could have a negative impact and encourage or discourage companies from engaging in the practice of awarding employees with stock as a part of their compensation. It is a question of disclosure. This legislation is about the disclosure requirements that should be applied in this case. That is really what we have heard from both sides of this argument: where should that disclosure requirement be, and at what level should it be incurred? What I would say is--and I think this is important to note, speaking for myself--I know many other members of the Financial Services Committee and Members of this body that may oppose this legislation feel strongly that the direction toward awarding employees with stock ownership is a positive direction. It is something that my friend, Mr. Delaney, has not only advocated for, but has practiced in his own private sector experience. It is a positive thing for a company and it is a positive thing for the employees. The only point that I continue to drive home and that others have reiterated is that it is important that employees understand the nature of the stock that is being awarded to them and that the disclosure requirements make clear employees are aware of the compensation and its true value. That is really the point of my objection. Mr. Speaker, I include in the Record a letter I received from Public Citizen, which articulates some of these same arguments.

Mr. KILDEE. Mr. Speaker, I reserve the balance of my time.

Mr. KILDEE. Mr. Speaker, I yield 2 minutes to the distinguished gentleman from Colorado (Mr. Polis), a member of the Committee on Rules and the Committee on Education and the Workforce.

Mr. KILDEE. Mr. Speaker, I yield myself such time as I may consume. I would just point out again that the position many of us are taking does not contradict the principles that are being articulated. In fact, the law does not preclude any company from awarding stock as compensation at any level. It simply requires that information be provided so that those individuals who are receiving that compensation have the information and have the resources to understand the value of that compensation. I just want to reiterate that because it is important that the position not be mischaracterized as one that wants to dampen the ability of companies to reward their employees with stock or use that as a form of compensation. It is just important that they have transparency in that process so people who are receiving that compensation understand its true value. Mr. Speaker, I reserve the balance of my time.