Blanche Lincoln

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I ask unanimous consent to speak as in morning business.

Mrs. LINCOLN. Mr. President, I wish to applaud my colleague from Pennsylvania because he shared not only our dreams for the recovery-- or, as we call it in Arkansas, the ``jump-start'' bill--but, more importantly, not just our dreams but the things that are actively happening in our States, the great things, whether it is highway projects or for us in Arkansas the new market tax credits, which have been a tremendous boost for capital infusion into small businesses and for entrepreneurs. We can also look at the SBA 7(a) Loan Program, which is tremendous for small businesses. Education alone--I met with principals and administrators last week when I was home, talking about the opportunities for education and the infusion of resources coming from the Recovery Act, along with water projects and broadband. The Senator from Pennsylvania did an excellent job in mentioning those and, most importantly, focusing on the fact that this will help us get our country and our economy back on track and get Americans back to work or keep them in the jobs they are clinging to. I appreciate him coming to the floor and mentioning some of that, all of which many of us have been seeing as we travel home to our States over the weekend or during the breaks.

Mrs. LINCOLN

Mrs. LINCOLN. Madam President, I rise today to pay tribute to a young man, Army PVT William Andrew Long, of Conway, AR. Last week, he was laid to rest at the Arkansas Veterans Cemetery in North Little Rock. He was buried with full military honors and was awarded the Army Commendation Medal and the Army Good Conduct Medal. Private Long was a loving son, brother, and friend whose life was tragically cut short on June 1 in a senseless attack outside of an Army-Navy Career Center in Little Rock, AR. PVT Quinton Ezeagwila was also injured in the attack. Our thoughts and prayers are with him, and we hope he makes a very speedy recovery. Private Long had recently finished Army training and was set to deploy to South Korea. He had been appointed to the Army's Hometown Recruiter Assistance Program in Little Rock and was at the Army recruiting office on that fateful day because he had volunteered to tell others about his experience in the U.S. military. Known to his friends and family as Andy, Private Long will always be remembered by all of us and all of them for his boundless energy, his keen intelligence, his infectious smile, and his great sense of humor. His country and all Arkansans will remember him as a hero with the courage to serve his Nation during a time of war. He will also be remembered as a young man whose life was ended way too soon. Private Long hailed from a fiercely patriotic family, with four generations of uniformed service to the United States. Andy's great grandfather and grandfather served. Both of his parents served, and his brother, PFC Triston Long, continues to serve today and will be deployed to Iraq later this summer. On behalf of my colleagues in the Senate and the people of Arkansas, I wish to take this moment to thank the Long family for their extraordinary dedication and service to our Nation. On that tragic day, Andy was targeted in what I view as an act of terrorism because of the uniform he wore--a uniform that stands as a symbol of this great country. Ours is a nation where we resolve our differences through debate and democratic elections, not through violence. This is a country where freedom is cherished and liberty is recognized as an inalienable right for all people. Terrorism has absolutely no place in this country, and as elected representatives of the people, it is our duty to ensure we are doing everything we can to combat terrorism, bring justice to its perpetrators, and protect our communities and our families. That is why I stand here today to put forth a resolution condemning the murder of Private Long and condemning the use of violence to achieve political ends. Additionally, I call for the swift prosecution, to the fullest extent of the law, of the perpetrators of this senseless shooting. The men and women of the U.S. Armed Forces risk their lives every day, both overseas and here on our own soil in the United States. Let it be known that their resolve will not and cannot be shattered. The ideals represented by the uniform worn by Andy Long, his parents, and the generations of brave American men and women before them, still serve to represent liberty and justice for all, and no act of terrorism can diminish that. It can only strengthen our resolve and reaffirm our commitment to America's most basic ideals and values. Our country owes a great debt to Private Long for his service, as well as to the brave men and women in the Armed Forces who protect and defend the freedoms we cherish as Americans each and every day. Our thoughts and prayers go out to Private Long's family and to all of those who knew and loved him. We are a grateful nation for incredible individuals like Private Andy Long. Mr. President, I yield the floor.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, paragraph 4 of rule XLIV of the Standing Rules of the Senate provides that, ``If during consideration of a bill or joint resolution, a Senator proposes an amendment containing a congressionally directed spending item, limited tax benefit, or limited tariff benefit which was not included in the bill or joint resolution as placed on the calendar or as reported by any committee, in a committee report on such bill or joint resolution, or a committee report of the Senate on a companion measure, then as soon as practicable, the Senator shall ensure that a list of such items (and the name of any Senator who submitted a request to the Senator for each respective item included in the list) is printed in the Congressional Record.'' The term ``congressionally directed spending item'' is broadly defined to include ``a provision or report language included primarily at the request of a Senator providing, authorizing, or recommending a specific amount of discretionary budget authority, credit authority, or other spending authority for a contract, loan, loan guarantee, grant, loan authority, or other expenditure with or to an entity, or targeted to a specific State, locality or Congressional district, other than through a statutory or administrative formula-driven or competitive award process.'' In accordance with rule XLIV, I provide the following information relating to my amendment. No. 1181, that was adopted by the Senate during consideration of H.R. 2346. The amendment will modify interest limitations allowable in a State, as defined in 12 USC 1831 u(f), where the maximum rate of interest is not more than 5 percent above the Federal Reserve discount rate--Arkansas. Specifically, it will relax the maximum rate of interest allowed, increasing it to seventeen percent, effective from date of enactment through December 31, 2010. The provision is generally applicable to any lending occurring within that state that is not conducted by an insured depository institution. I am the principal sponsor of the amendment.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, today I wish to recognize the outstanding humanitarian assistance recently provided by Company C, 153rd Infantry of the Arkansas National Guard. In early April, Mena, AR, was hit by an F3 tornado which devastated this small town in western Arkansas. These severe storms killed 3, injured more than 100, and left thousands of residents without power. The tornado also damaged important emergency response centers in the town and county, including the hospital, the police and fire departments, and the courthouse, which houses the 911 emergency dispatch center. However, under the leadership of CPT Rodney Lay, Company C of the 153rd Infantry, including team leaders 1LT Brian Lawrence Inman, 1SG Eric Schnell, SSG James Schnell, SSG Jacob Sullivan, SSG Neal Badger, and WO Jeffrey Shores, helped to immediately restore order to the devastated community. Company C provided downtown security during the aftermath of the tornado and went door to door to check on area citizens. In addition, they provided aid to victims of the storm that could not be transported to the city's hospital. Our military simply could not function without the thousands of reservists and guardsmen on bases and armories in communities across this country. Since September 11, 2001, they have been called upon to serve in unprecedented numbers. We honor the tremendous service they provide in preserving our freedoms, but we must also not forget the critical role they play in responding on the homefront in communities like Mena that desperately need their help in restoring order and stability in their time of need. I am honored to recognize the outstanding service of these citizen soldiers to the State of Arkansas and to the thousands of others who have helped provide assistance and support to communities in need.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I thank my colleagues, Senator Lieberman and Senator Graham, for their thoughtful dedication to this issue and certainly looking for the right compromise and, more importantly, for their support of our troops, the men and women in uniform and those who serve this country all across the globe.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I rise today to urge my colleagues to support and pass the legislation that is currently before the Senate, and that is the Family Smoking Prevention and Tobacco Control Act. The Family Smoking Prevention and Tobacco Control Act would implement important marketing restrictions on tobacco products and especially on the marketing practices that have been shown to increase tobacco use among our Nation's young people. I, like so many of my colleagues, some of whom are experiencing at the same time I am, and some who have already been through it--I am just beginning the teen years with my children. My twin boys will be turning 13 in a couple of weeks. Let me tell you, the pressure on our young people across this country is very real and very tough. What we are talking about in this bill--the authority--is absolutely critical. The tobacco industry has a long and disturbing history of marketing its products to appeal to young people. Last year, the National Cancer Institute published a comprehensive report on tobacco marketing that documented the powerful influence that tobacco marketing has on our children. The report found that ``the evidence base indicates a casual relationship between tobacco advertising and increased levels of tobacco initiation and continued consumption'' and that even brief exposure to tobacco advertising influences kids' attitudes and perceptions about smoking, as well as their intentions to smoke. The tobacco industry spends more than $13 billion per year to promote their products. Many of these marketing efforts directly reach our children. I want to share with folks an ad. Here is an ad that appeared in a convenience store in Delaware. Yes, it says what you think it says. It is a back-to-school special for Camel cigarettes--a back-to- school special. I have to say, I so enjoyed when my kids were in elementary school and taking them to the store to get their crayons and their pencils and their notebooks. I think about now even in their teen years, we go and maybe we get a couple of new outfits, we talk about graph paper and what they are going to learn and all the exciting things. We prepare them for school, getting back to school. We are ending up school right now, but we will go through it in the fall again. It is unbelievable to me that we would run ads: back to school, get your bargain, here it is, a pack of cigarettes. The industry also reaches our kids by saturating convenience stores, drugstores, and gas stations with tobacco advertisements, often placing ads and products near the candy and gum displays, or using other visual tricks such as bright colors and also through sponsorship of sports and entertainment events which are obviously what kids are interested in so often in the sports arena and other things with which they are involved. Tobacco companies know that almost all new smokers begin as kids. They carefully design their products to make them more attractive to kids. For example, in this ad, flavors are used to make the smoke less harsh, more flavorful, and easier for kids to smoke. We see in this ad, R. J. Reynolds has heavily marketed products with fruit flavors such as Twista Lime, Warm Winter Toffee, and Winter Mocha Mint. Bright colorful ads for these cigarettes have appeared in magazines that are very popular with our children. Who do we think candy and fruit-flavored products are for? Certainly they are not for the adults who have been smoking Marlboros or Camels all their lives. Survey evidence shows what we would expect: that these candy and fruit-flavored products are far more popular with our young people than among adults. Targeting our children like this is absolutely unacceptable-- unacceptable for the health of our children and for the well-being of our health care system. Here we are debating health care reform at a time when we realize that it is 18 percent of our GDP, and over the next 10 years health care is going to be one-fifth of our economy. To be advertising to our children to start something that we know is going to be detrimental to their health is absolutely unacceptable. If we are ever going to address the No. 1 preventable cause of death in the United States, we need to provide the FDA with the authority to restrict tobacco companies marketing to our children. While progress has been made in the last decade, youth tobacco use remains far too high. More than 20 percent of high school students in my home State of Arkansas smoke, and more than 18 percent of Arkansas's high school boys use smokeless tobacco. Each year, a staggering 13,100 Arkansas kids try cigarettes for the first time, and another 3,900 additional kids become new and regular daily smokers. Ninety percent of all adult smokers began smoking in their teen years. Tobacco companies know they have to attract kids to be able to survive. They know that if they get kids hooked, then they will have those adult smokers, and their marketing efforts have paid off. According to recent studies by the U.S. Centers for Disease Control and Prevention, more than 80 percent of kids smoke the three most heavily advertised brands. While tobacco companies claim they do not market to our children, they are surely doing a good job of getting kids to use their products. We simply must do more to protect our children from the tobacco company advertising and promotion. Effective regulation of the tobacco industry must provide FDA with the authority to restrict tobacco company marketing to children. That is one of the key goals of the Family Smoking Prevention and Tobacco Act. It imposes those specific marketing restrictions on tobacco products, restrictions on those forms of tobacco marketing I mentioned earlier that have been shown to increase youth tobacco use. Even more importantly, the bill gives the FDA the flexibility to further restrict tobacco marketing so it can respond to the inevitable innovative attempts by the tobacco companies to get around specific restrictions. The restrictions on marketing included in the FDA tobacco bill are critical to any effort to prevent kids from starting to smoke and reduce the toll caused by tobacco. Even though tobacco companies claim they have stopped intentionally marketing to kids, they continue their tradition of designing products that appeal explicitly to new users. The large majority--and we cannot ignore it--the large majority of those new users are our children. I mentioned that my children are about to be teens, and as the mother of twins about to be teens, I know that parents want to do all they can to protect their children. Children are faced with so much in today's world, whether it is violence, whether it is issues such as this, whether it is peer pressure. Our children are faced with many things. We want to protect them. We want to help them learn to wear seatbelts and bicycle helmets. We want to teach them all that we can, the skills they need in life so they can remain safe and healthy. I look at the restrictions we put on our children each day to make sure they are wearing those helmets, to make sure they are not on the computer too much, to make sure they are using the computer safely. All of these things we do as parents to ensure we are doing our job to keep our children as safe as we possibly can. We also need to protect our children from tobacco companies--their advertising and promotion. The Family Smoking Prevention and Tobacco Control Act does this. It would end special protection for the tobacco industry, and it would be safeguarding our children and creating a healthier nation in the process. Again, I encourage my colleagues to work with me and all of the other Senators working on this bill to move this bill forward on behalf of our children, certainly on behalf of the health care needs of this country but, most importantly, for parents who are trying so hard to ensure their kids will get off on the right foot and that they will learn to make wise decisions and will not be faced with these types of temptations and others to stray in a way that is going to be unhealthy for them and unhealthy for their future. Mr. President, I ask unanimous consent to reserve the remaining majority time.

Mrs. LINCOLN. Mr. President, I yield the floor.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I ask unanimous consent to speak as in morning business.

Mrs. LINCOLN. Mr. President, I think a lot of folks are looking toward the weekend. It is a holiday weekend. I know I am reflecting on that holiday weekend. I hope others are as well because on this Memorial Day, families in communities throughout Arkansas, our great State, and across our great Nation will gather to recognize the service of our men and women in uniform and to honor those who have paid the ultimate sacrifice in the name of freedom. My father and both of my grandfathers were infantrymen who proudly and honorably served our Nation. They taught me from a very early age about the sacrifices of our troops, their experiences, the sacrifices of our troops and their families and what they have done to keep our Nation free. Throughout my Senate career, I have consistently fought for initiatives that provide our military servicemembers, our veterans, and their families the benefits they have earned and deserve. That is why in advance of Memorial Day, which is right before us, I have authored a series of bills to honor our troops and their families. My first legislative proposal calls for educational benefits that better reflect the service and commitment of our guardsmen and reservists. This legislation is endorsed by the Military Coalition, a group of about 34 military veterans and uniformed service organizations, with over 5.5 million members. I am pleased that my friend and colleague, Senator Crapo of Idaho, with whom I routinely join in a bipartisan way on a whole host of issues--we came to the House together, and we came to the Senate together. He is a good friend and good working partner on behalf of substantive issues. He has joined me in cosponsoring this bill. Unfortunately, educational benefits for the members of our Selected Reserve have simply not kept pace with their increased service or the rising cost of higher education. These men and women serve a critical role on our behalf, and we must make an appropriate investment in them. In Arkansas and across the country, Americans are well aware of the reality that our military simply could not function without the thousands of men and women at armories and bases in our communities who continually train and prepare for future mobilizations and who work to ensure other members of their units are qualified and ready to deploy when called upon. My legislation would tie educational benefit rates for guardsmen and reservists to the national average cost of tuition standard that is already applied to Active-Duty educational benefit rates. This builds upon my total force GI bill, first introduced in 2006, which was designed to better reflect a comprehensive total force concept that ensures members of the Selected Reserve receive the educational benefits that are more commensurate with their increased service. The final provisions of this legislation became law last year with the signing of the 21st-century GI bill. In addition, the National Guard and Reserve have been and will continue to be an operational force serving overseas, and as such they require greater access to health care so that members can achieve a readiness standard demanded by current deployment cycles. Far too many men and women are declared nondeployable because they have not received the medical and dental care they need to maintain their readiness before they are called up. This can cause disruption in their unit by requiring last-minute replacements from other units or requiring treatment during periods that are set aside for much needed training and experience they need to gain before they are deployed. Compounding the challenge is the fact that short-notice deployments occur regularly within the National Guard. The Department of Defense can and should do more to bring our Selected Reserve members into a constant state of medical readiness for the benefit of the entire force. My bill, the Selected Reserve Continuum of Care Act, would better ensure that health assessments for guardsmen and reservists are followed by Government treatment to correct any medical or dental readiness deficiencies discovered at their health screenings. This legislation is endorsed by the National Guard Association of the United States, the Association of the United States Army, the Association of the United States Navy, the Enlisted Association of the National Guard of the United States, the Reserve Officers Association, the Retired Enlisted Association, the U.S. Army Warrant Officers Association, and the Veterans of Foreign Wars of the United States. I also thank Senators Landrieu and Burris for their support in cosponsoring this bill as well. Lastly, a bill I have introduced today, the Veterans Survivors Fairness Act, would enhance dependency and indemnity compensation benefits of survivors of severely disabled veterans and increase access to benefits for more families. In doing so, it would address inequities in the VA's DIC program by doing three things. First, it would increase the basic DIC rate so it is equivalent to the rate paid to survivors of Federal civilian employees. It also would provide a graduated scale of benefits so many survivors are no longer denied benefits because of an arbitrary eligibility restriction. Lastly, it would allow surviving spouses who remarry after the age of 55 to retain their DIC benefits. This legislation, cosponsored by my good friend, Senator Herb Kohl of Wisconsin, is endorsed by the Disabled American Veterans, the Association of the United States Navy, the Military Officers Association of America, the National Guard Association of the United States, the National Military Family Association, and the Reserve Officers Association. It is not coincidental that these two measures are supported so heavily by our military associations. It is because they are much needed and it is because they are so deserved. Beyond these three bills, veterans health care continues to be on the top of my priority list. I have worked with my colleagues to make substantial investments to increase patient travel reimbursement, improve services for mental health care, and reduce the backlog of benefit claims. Access to the Veterans' Administration health system is absolutely critical, but too often it is quite challenging, particularly for our veterans who live in the rural areas of our Nation. For these veterans, among the other initiatives I have championed, I have championed legislation with my friend and colleague, Senator Jon Tester of Montana, that will increase the mileage reimbursement rate for veterans when they go to see a doctor at a VA medical facility and will authorize transportation grants for Veterans Service Organizations to provide better transportation service in rural areas. I have been to areas in southern Arkansas, very far from Little Rock--3, 3\1/2\ hours' travel--visiting with veterans down there who are in dire need of access to that VA medical care. Yet their ability to get there was hampered by the fact that they were only reimbursed one way; not to mention the fact that their reimbursement was so low-- so far below what a Federal employee gets reimbursed--it was uneconomical and almost prohibitive in getting them there. As Memorial Day approaches, I hope all my colleagues will remember, and I would like to encourage them and all Arkansans, to take the time to honor our servicemembers, veterans, and their families. Never miss an opportunity to thank someone in uniform. Our troops are worthy of our appreciation, and we should come together as a nation to show them with our words and our deeds that we stand with them as they serve our interests at home and abroad. As we all gather in preparation of a recess break, I hope we will all remember the reason we have this break, the reason we celebrate this holiday. Those of us who have military in our family, those of us who do not, it doesn't matter, we all enjoy the freedoms of this great country, and it is critically important that we show that not only on Memorial Day but each day of the year. The opportunity we have as legislators to honor our men and women in uniform, to support them with legislation that is meaningful to their lives, to their service, and to their families is absolutely essential. I encourage all my colleagues to look at the legislation I have offered, along with several of our colleagues, and encourage them to join me as we begin this Memorial Day break coming up next week and to remember why we celebrate, why we celebrate this Nation and these freedoms. It is because of the men and women in uniform who have served so bravely, and for those who have made the ultimate sacrifice, that we enjoy this great land and these freedoms and rights that we do enjoy in this great country. Before concluding, I would like to add a couple other notes. I couldn't help but hear the comments of my colleague from Texas, and I wish to join her in her frustration for so many of our small and family-owned businesses across our State--our automobile dealers--that, for generations and generations, have passed down in their families a small business that they have worked very hard to keep afloat, to keep busy, to keep healthy, and to keep alive for future generations. My hope is that we will have the assistance and the working relationship with both the Treasury and the Chrysler Corporation and GM and others to better understand how we make that transition as reliable and certainly as palatable to those individuals and their families and small businesses as we possibly can. I look forward to working with the Senator from Texas and with other Senators as well as we move forward in that effort. Last, but not least, I would like to also mention and extend my congratulations to our newest ``American Idol,'' Arkansas' own Kris Allen, who represented our State so well over the past few months in the ``American Idol'' television show, which has been so popular among so many people in this country. Kris is a talented young man with a bright future ahead of him, and I look forward to watching him build a very successful career. I join all Arkansans when I say how proud we are of Kris, not only as a talented performer but as a humble young man who embodies our Arkansas values of hard work, integrity, and conviction. We wish him all the best as we begins this new phase of his life and career. I yield the floor, and I suggest the absence of a quorum.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I ask unanimous consent that the pending amendment be set aside and I call up my amendment No. 1181.

Mrs. LINCOLN. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mrs. LINCOLN. Mr. President, I will be very brief. I, first of all, want to say a special thanks to Chairman Inouye and the ranking member, my neighbor from Mississippi, Senator Cochran, for their good work on this effort and really being thoughtful and timely on that we need in this bill we have before us. The amendment I am offering today deals with an emergency challenge that is faced in our State of Arkansas. It is a specific problem just to us, and we need the Senate's help to immediately address that issue. Unfortunately, as a result of the economic challenges our Nation now faces, these challenges are magnified for us in our State, and immediate and emergency intervention is essential; otherwise, our State's recovery will lag behind due to a lack of capital in our State because of the circumstances we are experiencing, as I said, with an unusual cap that is tied to the Federal rate. So we are working hard to solve this problem in our State. We are asking our Senate colleagues to work with us. Mr. President, I ask unanimous consent that Senator Pryor be added as a cosponsor to the amendment.

Mrs. LINCOLN. I thank the Acting President pro tempore. Again, we look forward to being able to work with our colleagues to meet this challenge our State, and our State alone, faces. Again, I thank the chairman and the ranking member for being able to work with us on this issue. Mr. President, I suggest the absence of a quorum.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I ask unanimous consent that further reading of my amendment be dispensed with.

Mrs. LINCOLN. Mr. President, what is the pending business?

Mrs. LINCOLN. Mr. President, I call up a second-degree amendment to the pending Collins amendment.

Mrs. LINCOLN. Mr. President, I begin by commending Chairman Dodd and the ranking member, Senator Shelby, for putting together such an important package of reforms to protect our consumers all across this great Nation. Without a doubt, rampant credit card debt is a problem facing a great and growing number of Americans. In my own home, my twin 12-year-old boys get preapproved credit card requests weekly--at the age of 12. Looking at how we can do a better job of both financial literacy and helping people during this time of credit crisis to be able to do a better job in terms of responsibility, the Federal Reserve's most recent data estimates that the average American household now has about $2,200 in credit card debt compared to an average of about $1,000 in 1992, and overall household debt has risen drastically, more than doubling in this last decade. Confusing terms, constantly changing interest rates, and high penalty fees have all contributed to this trend, as many people struggle to effectively manage their credit and their credit card use and the debt they have. While it is the responsibility, obviously, of consumers and borrowers to manage their own financial affairs, it is also absolutely essential that we ensure they have all the information they need, in an easily understandable form, so that they are able to make fully informed decisions about their credit and the amount of debt they might be incurring and what it means to their families; what the long-term implications might be. It is also important that credit card companies provide stable, easy to predict interest rates, and reasonable penalty fees that do not overly punish innocent mistakes that might be made. This bill, on which Chairman Dodd and Ranking Member Shelby have worked so tirelessly, has come together in a bipartisan way to improve consumer protections regarding excessive fees, ever changing interest rates, and complex contracts seemingly designed to do one thing above all, and that is to keep people in debt. This bill will clean up the fine print so consumers don't get blemished by their credit card companies. I am very pleased to be supporting the underlying bill, because ultimately I believe it will help restore fairness and common sense in our Nation's credit card practices. On that note, talking about fairness and common sense, I wish to discuss the second-degree amendment to Senator Collins' amendment I have called up. This is an amendment I am offering on behalf of the entire Arkansas delegation--the entire delegation as well as our State officials, and others. This is a critical legislative proposal that will provide temporary emergency relief for an Arkansas-specific interest rate problem that is having a severe impact on Arkansas students, our consumers, our businesses, as well as our municipalities and our State government. We are all, in Arkansas, affected by this situation. Arkansas is the only State in the Nation with an artificially low interest rate limit that is tied to the Federal discount rate. Under current law, the interest rate on special revenue bonds and nonbank consumer loans may not exceed 5 percent above the Federal discount rate, which is currently set at one-half percent. So we are completely uncompetitive. Other bonds are capped even lower, at 2 percent above the Federal discount rate. As a result of this, Arkansas State and local governments, our public universities and utilities--in search of financing for construction and improvement projects--are severely hampered by the current limit, as are our Arkansas consumers, who are facing a lack of credit availability, as is everyone in this great country during this economic crisis. Practically speaking, the current interest rate limit--the top rate that is legally allowable in Arkansas on all nonbank lending--is no higher than 5\1/2\ percent. Not surprisingly, this low rate of interest has contributed to bond investors looking to other States across the country where their yields will be much higher, as well as credit rationing by nonbank lenders that have been forced to restrict funds to consumers--particularly now, when capital is so hard to come by anywhere else. The biggest frustration of all for people in my State is that the Federal Government has continued to make this problem worse and worse by lowering the Federal rate. This was done in an effort to improve the economy, and we certainly understand that in Arkansas. The Fed took those measures in order to try to improve the economy overall. But since we are the only State that has that unusually low rate that is tied to the Fed, we are actually suffering tremendously from what is occurring. As I said, we do appreciate the Federal Reserve's actions in these recent months to continue lowering the Federal discount rate where necessary to combat the economic crisis and stave off a further decline in our financial markets, but the lowering of that rate has only exacerbated the economic challenges faced in our State, and in our State alone, for that reason. Additionally, many of the tools put into place in the American Recovery and Reinvestment Act--the stimulus package that we offered earlier this year to jump-start our economy, such as the Recovery Zone bonds and the Build America bonds--are not available in our State because of our lack of competitiveness in the bond market, due to those abnormally low interest rates that are tied to the Fed. As stated in the recent Arkansas Democrat-Gazette article on this issue: The bond market has responded to the Build America program. Since its introduction, investors have purchased $8 billion in offerings, providing the bulk of activity in the taxable- bond sector. Arkansas is not in a position to take part. This is an issue that impacts our State of Arkansas alone. We understand that, and Arkansas does intend to fix that problem. However, we can't do so immediately because this archaic clause in the Arkansas law must be rectified through a statewide ballot initiative. Therefore, a proposal to permanently modify this outdated law will be voted on by the people of Arkansas, but not until the next statewide ballot in 2010. Unfortunately, the economic challenges our Nation now faces are magnified in our State and immediate emergency intervention is essential; otherwise, our State's recovery will lag behind due to a lack of capital in our State. There is precedent for Federal action on this issue, as the Congress enacted an Arkansas-specific provision to exclude Arkansas bank lenders from this exact interest rate limit in 1999. The second-degree amendment we are offering today is even more limited in scope, allowing for a temporary relaxation of the current interest rate limit to a more reasonable level of no more than 17 percent until the State ballot initiative is considered. This is temporary, it is an emergency for Arkansas, and it is only in regard to the State of Arkansas. This is merely a temporary bridge to get us through this immediate crisis. We are all part of this economic crisis in this great country, and we are working hard together to pull ourselves out of this ditch and to get the economy back on track. I would hate to think that my State, and my State alone, was the only one that could not access the stimulus dollars to help our universities, our airport authorities, our municipalities, and others to access some of those dollars, to help create jobs in our State, and to put people who may have lost jobs back to work. We want to be sure we have the resources as well in order to be a healthy part of reviving the economy in this great country. This is a matter of great urgency for our State. This is a matter with broad consensus in our State. We have worked as an entire delegation and in a bipartisan way. We have the State government, our Governor, and others who have been working with us--just for Arkansas, because it is Arkansas specific--to figure out a way to provide that temporary bridge, that temporary assistance we need. Because if we wait until that ballot initiative, the stimulus package will be over and we will have missed that opportunity. So this is a matter we have been working on, as I said, in a bipartisan way to try to solve. We hope we can count on the support of our colleagues when this amendment comes up later on today or whenever we vote on it. But I do plead with my colleagues, this is an Arkansas-specific issue. It is one that is detrimental to our State. We have an opportunity to help the people of Arkansas, the communities of Arkansas, the student loan authority, which can no longer issue new student loans because of that bonding authority and the cap that exists there. The problems that exist for us are monumental, and we want to ensure that over the next 18 months we too can be a part of reviving the economy of this great country. I thank the Chair, and I suggest the absence of a quorum.

Mrs. LINCOLN. Mr. President, I ask unanimous consent the order for the quorum call be rescinded.

Mrs. LINCOLN. Mr. President, I ask unanimous consent to have Senator Pryor added as a cosponsor to my second-degree amendment.

Mrs. LINCOLN. Mr. President, I suggest the absence of a quorum.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I have come to my colleagues today, having come down to the floor last week, when I came to the Senate floor to announce a new plan to give working families and businesses the tools they need to succeed during this current economic crisis we are in. I come today also to add to my Arkansas plan a package of tax cuts and Tax Code simplification measures designed to move Arkansas and our State's hard-working families forward. Together, these tax measures will allow working families and small businesses to get ahead and emerge from the economic crisis stronger and more competitive. We have a lot of small businesses, hard-working families down in Arkansas; entrepreneurs who unfortunately feel as though during this crisis they are not getting much out of Washington. We want to change that attitude. We want to make sure they are getting our support and that we as the Government are creating an atmosphere and an environment where they can be successful. We are also going to encourage innovation and entrepreneurship to create new jobs and lessen our dependence on foreign oil and reduce the burden on working families and small businesses by simplifying our Tax Code. It is way too complicated these days. We have created too much of a complicated code that people can't use it for its intended purposes, and that is, obviously, to encourage good, healthy businesses to thrive and to be competitive. Last week, I introduced a number of legislative measures that will allow working families and small businesses to emerge from the economic crisis stronger and more competitive than before. This week, my Arkansas plan focuses on encouraging innovation and entrepreneurship to create new jobs here at home and lessen our dependence on foreign oil. All of us want to be able to be more independent. We want to make sure we are creating jobs here, but we also want to know that, globally, we are more independent as a country and that we are not seeing that dependence on imported oil coming from other places. Yesterday, I introduced the USA Jobs Act of 2009, which offers a new research and development bonus incentive to companies that both research and manufacture their products in the United States. Before, in the stimulus package, we extended the research and development tax credit to encourage more research and development of new ideas and new products, new methodologies so we could create jobs from those. We also need to make sure we are not sending those new ideas and that new research somewhere else on the globe to be able to be produced or manufactured. We want to incentivize that it stays right here at home. Our Nation faces record unemployment, with more than 540,000 Americans put out of work last month alone and 90,000 job losses in Arkansas. It is more important now than ever before that we encourage the creation and preservation of American jobs. My bill provides a new job tax credit for manufacturers that do a substantial portion of their research and manufacturing right here at home in the United States. This new tax credit will encourage greater domestic production, which would, in turn, lead to the creation of more American jobs. Today, I am focused on a series of alternative energy and conservation proposals as well. My first bill provides an even playing field for all renewable energy production. The Federal Tax Code currently offers an income tax credit for the production of electricity produced from renewable energy resources, but not all resources are treated the same. Under current law, some energy resources receive a higher level credit than others, and as a result, certain new renewable energy technologies have a more difficult time finding the necessary investment capital they need to start that process of investing in new technology and getting it to the marketplace in a reasonable way so it is cost-effective. These are critical ideas that exist out there. We need to make sure everybody is at the table. When we look at renewable energy, we see that there are a multitude of great ideas out there, but getting those ideas to the table and then out into the marketplace is a critical part of that journey. If we don't make sure everyone has that same benefit with their ideas and technologies and being able to get out there, if it is not a fair playing field, then we are going to lose multiple opportunities. I hope we will look forward and not backward in terms of how we are incentivizing this renewable energy. So much of what we see in terms of complications or challenges small businesses face in finding investment capital is particularly problematic with the pursuit of renewable energy opportunities in my home State of Arkansas, where biomass is a predominant renewable resource but only gets half the tax credit that many other resources receive. That is ridiculous. We have a tremendous resource right here and available to us--not just in Arkansas but in many States in our country. It can play a tremendous role in lifting our dependence on foreign oil and finding renewable sources of energy. My proposal would level the playing field for all energy resources by increasing the value of the credit to a full credit level for those resources that currently receive only a partial credit. It certainly makes sense not only in the sense that there are certain resources that exist today that are moving forward in their technology, but there are also resources down the road. It is amazing to me to see what scientists are doing, even with things like algae, to be able to produce oil, and looking at how we can use our agricultural byproducts--a host of things, any of that woody biomass that we can begin to put to good use in making energy and be less dependent on imported oil. Also, I am introducing legislation today that provides long-term certainty for producers and consumers of biofuels. Currently, the U.S. Tax Code includes credits to encourage the production of biodiesel and renewable diesel, which are proven alternative fuels that will help us lessen our dependence on foreign oil. Every barrel of biofuel that we produce is a barrel of imported oil we would not have to import. These incentives have been extended on a short-term basis in recent years and are scheduled to expire at the end of this year. When we see all of these great ideas and we see people who are willing to invest their capital and their time and energy and resources into moving these industries to the marketplace, and in a reasonable, cost-effective way they can then integrate it into the marketplace, it takes resources. But it takes predictability in our Tax Code as well, knowing they are going to be able to depend on a certain tax treatment over a certain period of time that allows them to access that capital in the capital market. If these credits were allowed to expire, these new technologies in renewable fuels would be priced significantly higher than petroleum diesel and, as a result, would not be competitive in the fuels marketplace. Biofuel producers and consumers in our State need the certainty that these economic incentives provide and help to sustain this new market. We cannot move forward in changing our mindset and our marketplace from an old energy economy to a new one if we don't embrace the idea that we have to produce some predictability for these new emerging industries and fuels in a way they can--particularly in these difficult economic times--access the capital they need to move forward with the ideas and development and the production of all of these great new ideas that exist out there. My proposal would provide a 10-year extension of the credits through 2018 to provide a stable environment for the creation of a strong domestic biofuels industry. I want to highlight a bill I introduced a few weeks ago with Senators Roberts, Snowe, Cantwell, and Collins that would allow electricity from biomass produced onsite to qualify for the section 45 renewable electricity production tax credit. According to the American Forest and Paper Association, in 2005, the industry produced 28.5 million megawatt hours of biomass-based electricity, which avoided the use of more than 200 million barrels of oil. There it is, plain and simple--what we can be doing with an industry that has available to them--the biomass--from byproducts and from other woody products that are there, which may be discarded or unusable--to be able to produce electricity from a renewable source. The use of biomass electricity, whether produced onsite or purchased from a utility, has the same positive impact of reducing fossil fuel consumption and should be encouraged. That is exactly what we want to do. We want to encourage these types of activities and what we can do in terms of creating new and innovative ideas with renewable energy. Later this week I plan to introduce a bill to also encourage workforce training and development. Together, I think these bills will create jobs at home. They will help strengthen our economy and reduce our dependence on foreign oil. These are all priorities I think each one of the Members of this body seek to achieve. I, for one, decided to put together a plan that I think is particularly good for my State, with a series of different types of bills that I am introducing--last week, this week, and next week--in a way that I think can be productive for my State. I think most Senators will find that these are tools that will be just as effective for their States as well. I encourage them to take a look at what we are doing. Next week, I will complete the rollout of our Arkansas plan by introducing reform measures to simplify the Tax Code and reduce the burden on Americans, and particularly Arkansas's working families and businesses by working to build a tax structure that is fair and equitable for all Americans. Again, I encourage my colleagues to take a look at these commonsense measures to see how they will benefit their own constituents. I work hard in the Senate to be pragmatic and look for solutions that are good for everybody and, more important, that are focused on the issues that are important to us as a country, like getting our economy back on track, making sure Americans can keep jobs, and for those who have lost jobs, we can put back to work, with the new ideas that we know Americans are so very capable of. We must make our Nation's working families and our small businesses a top priority. The Arkansas plan does just that. I will continue to fight to bring our families the relief they need and our business owners the tools they require to invest and grow and be competitive in the global marketplace that we have been begging so longingly for over the years. We need to make sure Government is going to create that environment where they can do just that--invest, grow, and be competitive.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mrs. LINCOLN. Mr. President, I ask unanimous consent to speak as in morning business.

Mrs. LINCOLN

Mrs. LINCOLN. Mr. President, I have come to my colleagues today, having come down to the floor last week, when I came to the Senate floor to announce a new plan to give working families and businesses the tools they need to succeed during this current economic crisis we are in. I come today also to add to my Arkansas plan a package of tax cuts and Tax Code simplification measures designed to move Arkansas and our State's hard-working families forward. Together, these tax measures will allow working families and small businesses to get ahead and emerge from the economic crisis stronger and more competitive. We have a lot of small businesses, hard-working families down in Arkansas; entrepreneurs who unfortunately feel as though during this crisis they are not getting much out of Washington. We want to change that attitude. We want to make sure they are getting our support and that we as the Government are creating an atmosphere and an environment where they can be successful. We are also going to encourage innovation and entrepreneurship to create new jobs and lessen our dependence on foreign oil and reduce the burden on working families and small businesses by simplifying our Tax Code. It is way too complicated these days. We have created too much of a complicated code that people can't use it for its intended purposes, and that is, obviously, to encourage good, healthy businesses to thrive and to be competitive. Last week, I introduced a number of legislative measures that will allow working families and small businesses to emerge from the economic crisis stronger and more competitive than before. This week, my Arkansas plan focuses on encouraging innovation and entrepreneurship to create new jobs here at home and lessen our dependence on foreign oil. All of us want to be able to be more independent. We want to make sure we are creating jobs here, but we also want to know that, globally, we are more independent as a country and that we are not seeing that dependence on imported oil coming from other places. Yesterday, I introduced the USA Jobs Act of 2009, which offers a new research and development bonus incentive to companies that both research and manufacture their products in the United States. Before, in the stimulus package, we extended the research and development tax credit to encourage more research and development of new ideas and new products, new methodologies so we could create jobs from those. We also need to make sure we are not sending those new ideas and that new research somewhere else on the globe to be able to be produced or manufactured. We want to incentivize that it stays right here at home. Our Nation faces record unemployment, with more than 540,000 Americans put out of work last month alone and 90,000 job losses in Arkansas. It is more important now than ever before that we encourage the creation and preservation of American jobs. My bill provides a new job tax credit for manufacturers that do a substantial portion of their research and manufacturing right here at home in the United States. This new tax credit will encourage greater domestic production, which would, in turn, lead to the creation of more American jobs. Today, I am focused on a series of alternative energy and conservation proposals as well. My first bill provides an even playing field for all renewable energy production. The Federal Tax Code currently offers an income tax credit for the production of electricity produced from renewable energy resources, but not all resources are treated the same. Under current law, some energy resources receive a higher level credit than others, and as a result, certain new renewable energy technologies have a more difficult time finding the necessary investment capital they need to start that process of investing in new technology and getting it to the marketplace in a reasonable way so it is cost-effective. These are critical ideas that exist out there. We need to make sure everybody is at the table. When we look at renewable energy, we see that there are a multitude of great ideas out there, but getting those ideas to the table and then out into the marketplace is a critical part of that journey. If we don't make sure everyone has that same benefit with their ideas and technologies and being able to get out there, if it is not a fair playing field, then we are going to lose multiple opportunities. I hope we will look forward and not backward in terms of how we are incentivizing this renewable energy. So much of what we see in terms of complications or challenges small businesses face in finding investment capital is particularly problematic with the pursuit of renewable energy opportunities in my home State of Arkansas, where biomass is a predominant renewable resource but only gets half the tax credit that many other resources receive. That is ridiculous. We have a tremendous resource right here and available to us--not just in Arkansas but in many States in our country. It can play a tremendous role in lifting our dependence on foreign oil and finding renewable sources of energy. My proposal would level the playing field for all energy resources by increasing the value of the credit to a full credit level for those resources that currently receive only a partial credit. It certainly makes sense not only in the sense that there are certain resources that exist today that are moving forward in their technology, but there are also resources down the road. It is amazing to me to see what scientists are doing, even with things like algae, to be able to produce oil, and looking at how we can use our agricultural byproducts--a host of things, any of that woody biomass that we can begin to put to good use in making energy and be less dependent on imported oil. Also, I am introducing legislation today that provides long-term certainty for producers and consumers of biofuels. Currently, the U.S. Tax Code includes credits to encourage the production of biodiesel and renewable diesel, which are proven alternative fuels that will help us lessen our dependence on foreign oil. Every barrel of biofuel that we produce is a barrel of imported oil we would not have to import. These incentives have been extended on a short-term basis in recent years and are scheduled to expire at the end of this year. When we see all of these great ideas and we see people who are willing to invest their capital and their time and energy and resources into moving these industries to the marketplace, and in a reasonable, cost-effective way they can then integrate it into the marketplace, it takes resources. But it takes predictability in our Tax Code as well, knowing they are going to be able to depend on a certain tax treatment over a certain period of time that allows them to access that capital in the capital market. If these credits were allowed to expire, these new technologies in renewable fuels would be priced significantly higher than petroleum diesel and, as a result, would not be competitive in the fuels marketplace. Biofuel producers and consumers in our State need the certainty that these economic incentives provide and help to sustain this new market. We cannot move forward in changing our mindset and our marketplace from an old energy economy to a new one if we don't embrace the idea that we have to produce some predictability for these new emerging industries and fuels in a way they can--particularly in these difficult economic times--access the capital they need to move forward with the ideas and development and the production of all of these great new ideas that exist out there. My proposal would provide a 10-year extension of the credits through 2018 to provide a stable environment for the creation of a strong domestic biofuels industry. I want to highlight a bill I introduced a few weeks ago with Senators Roberts, Snowe, Cantwell, and Collins that would allow electricity from biomass produced onsite to qualify for the section 45 renewable electricity production tax credit. According to the American Forest and Paper Association, in 2005, the industry produced 28.5 million megawatt hours of biomass-based electricity, which avoided the use of more than 200 million barrels of oil. There it is, plain and simple--what we can be doing with an industry that has available to them--the biomass--from byproducts and from other woody products that are there, which may be discarded or unusable--to be able to produce electricity from a renewable source. The use of biomass electricity, whether produced onsite or purchased from a utility, has the same positive impact of reducing fossil fuel consumption and should be encouraged. That is exactly what we want to do. We want to encourage these types of activities and what we can do in terms of creating new and innovative ideas with renewable energy. Later this week I plan to introduce a bill to also encourage workforce training and development. Together, I think these bills will create jobs at home. They will help strengthen our economy and reduce our dependence on foreign oil. These are all priorities I think each one of the Members of this body seek to achieve. I, for one, decided to put together a plan that I think is particularly good for my State, with a series of different types of bills that I am introducing--last week, this week, and next week--in a way that I think can be productive for my State. I think most Senators will find that these are tools that will be just as effective for their States as well. I encourage them to take a look at what we are doing. Next week, I will complete the rollout of our Arkansas plan by introducing reform measures to simplify the Tax Code and reduce the burden on Americans, and particularly Arkansas's working families and businesses by working to build a tax structure that is fair and equitable for all Americans. Again, I encourage my colleagues to take a look at these commonsense measures to see how they will benefit their own constituents. I work hard in the Senate to be pragmatic and look for solutions that are good for everybody and, more important, that are focused on the issues that are important to us as a country, like getting our economy back on track, making sure Americans can keep jobs, and for those who have lost jobs, we can put back to work, with the new ideas that we know Americans are so very capable of. We must make our Nation's working families and our small businesses a top priority. The Arkansas plan does just that. I will continue to fight to bring our families the relief they need and our business owners the tools they require to invest and grow and be competitive in the global marketplace that we have been begging so longingly for over the years. We need to make sure Government is going to create that environment where they can do just that--invest, grow, and be competitive.