Jim Leach

Mr. LEACH

Mr. LEACH. Mr. Chairman, I yield myself the balance of my time. Mr. Chairman, I conclude with two points: First, I think everybody in this room must understand there is an emotive aspect of this issue that we all share a common sympathy. But also at stake is the Constitution of the United States, which is very precise on who the commander in chief is and what the command function is. This is a constitutional issue. The second point I make is it is also a policy issue. Let there be no misunderstanding, this bill, as currently crafted, drives a stake into the United States leadership in multilateral diplomacy. If this kind of approach happened in all other countries in the world, peacekeeping comes to an end, burden sharing comes to an end. We do not have a prospect of expanding the rule of law in a reasoned way. So I would urge the Members of this body to understand that there is a symbolism as well as a constitutionalism with regard to this particular amendment.

Mr. LEACH

Mr. LEACH. Mr. Chairman, I would submit that while rooted in a quasi- party platform, the contract, the issues in this bill must not be considered partisan. There is a great Republican as well as Democratic tradition of internatinalism. As a Republican I would stress that my party should take great care not to weaken the Presidency just because we have a weak President; not to eviscerate the United Nations just because of one or another mistaken U.N. policies; and above all, not ignore the Constitution's separation of power doctrine just because we now control the legislature. For three quarters of a century, the United States has exercised preeminent world leadership in cooperative efforts to build a civilized international policy based on the rule of law. American leadership conceived the League of Nations to replace a shattered European balance-of-power system after World War I. American leadership was crucial to the establishment of the United Nations system in the aftermath of World War II. Yet there is an ambivalence, if not tension, in the American psyche between isolationism and internationalism, between hubristic go-it- alone-ism and the sharing of global responsibilities. Thus an isolationist America rejected the League in the 1920s. And in this bill this Congress is contemplating the placement of profound roadblocks in multilateral peacekeeping. Conservatives, in particular, should support the United Nations because it implies burdensharing in security relations as well as development activities, thus shielding the United States from disproportionately being accountable for global woes. At issue with the philosophical debate covering this bill is whether we want to be the policemen for the world or the leading member of an international highway patrol. The second option is more realistic and, I might add, cheaper. In America today there should be no dominant place in either party for self-centered isolationism. With a sense of sadness, I accordingly urge the defeat of this legislative vehicle, which not only hamstrings the constitutional prerogatives of the Presidency, but undercuts serious prospects of expanding the rule of law. In any regard, I would like to express my appreciation to Chairman Gilman for his efforts to ameliorate some of the extraordinary counter- productivity of earlier drafts of this bill, and to accommodate some of this Member's concerns. For example, I am appreciative that the Chairman was willing to accept this Member's modest suggestion that the findings section of the bill underscore that credible and effective collective security mechanisms are profoundly in the national interest of the United States. After all, the principle of collective security has been a linchpin of the U.S. national security policy of every administration since 1945. Nevertheless, I would stress as strongly as I can that the legislation in its current form is in sharp contrast to the philosophical precepts that shape this Member's view of responsible internationalism and the conduct of American foreign policy. There should be no misunderstanding. The intent of this bill is to constrain U.S. involvement in multilateral military operations under U.N. auspices. The effect of this bill, if left substantially unamended, is to diminish U.S. leadership in the U.N. and elsewhere and force Presidents in emergency settings to either do nothing or rely exclusively on unilateral actions. Let me just summarize my major disagreements with this bill: It unnecessarily returns the United States to rapid development and deployment of a costly strategic missile defense system that is not justified by any exigent national security threat and in so doing, gives a false impression that the nuclear beast can be constrained by one technique of defending against one kind of delivery system; It would cripple, if not destroy, financing for U.N. peacekeeping operations, thus having the effect of requiring the United States either to adopt an isolationist posture of doing nothing or bearing a singular unilateral burden of maintaining international peace and security; It would impose unprecedented, unconstitutional, unnecessary and capricious restrictions on the office of the presidency and the President's authority to place U.S. troops under the operational control of another country--even a NATO ally--for U.N. operations; and By mistaking belligerent naysaying for genuine leadership and U.N. reform it risks repudiating our own heritage, undercutting our own self-interest, and tragically rending a half-century of bipartisan consensus that has sustained a generally successful and effective U.S. approach to multilateral diplomacy. While the United States and other nations have increasingly turned to multilateral institutions to deal with certain of the most intractable problems of our time, the resulting costs and occasional policy failures--such as Somalia--have renewed doubts at home and abroad about the future of the United Nations. While we may not like all that the United Nations or its individual members do, we no longer have the capacity, even if we so desired, to successfully go it alone. The manifest limits of American power and the contrasting global reach of American interests; they make U.S. leadership in an effective United Nations essential. The realist critique of the American tradition of responsible internationalism--the suggestion that multilateral diplomacy is doomed to failure, that the United Nations is not a viable global body--offers a profoundly unrealistic prescription for the advancement of American interests. Members must understand that for the United States to default leadership in the world's principal arena of multilateral diplomacy amounts to nothing less than strategic retreat. In the twilight of the 20th century nothing is more naive than to suggest that the U.S. national interest should rely on the advancement of a narrow, nationalistic foreign policy that shuns cooperative problem solving, pooh-poohs peaceful resolution of disputes, pillories attempts at political and economic institution-building and scorns collective enforcement of the peace based on the rule of law. With the health of the American and world economy dependent on open markets and free trade, with the potential proliferation of weapons of mass destruction, and with ethnic, religious, and racial divisions rising in the geographic cockpits of historical conflict, U.S. national purpose cannot afford to be diverted by uncertain leadership or ideological posturing. An unbridled nationalist might contend that expanding international law and building international institutions of conflict resolution is unacceptable because it implies the ceding of slivers of sovereignty by nation-states. Yet the third-party arbitration and enforcement--entails jeopardizing that very sovereignty because of the greater likelihood that disputes will be resolved only through force. Just as peoples within nation-states have come to understand the need for laws that impinge on individual discretion so that basic liberties can be better safeguarded, governments the world over must come to accept an obligation on behalf of their citizens to accelerate rather than retard the development of civilizing institutions of international polity. This is not to suggest that the United Nations has an unblemished track record, or that criticism of the world body and its individual members should be stifled. Yet the U.N. system is more than bricks and mortar in New York, more than General Assembly debate and Secretariat bureaucracy-building. The United Nations is a system based on the assumption that states and peoples can work together to solve transnational problems. In one sense, the United Nations symbolizes as much an idea and ideal as a structure. Nevertheless, institutional arrangements are the crux of governance, and just as shortcomings abound within the system, U.N. institutional achievements stand out. There is a profound debate in this country and abroad about the nature of the unfolding post-cold-war world: Will it be hallmarked by a strengthening of the bonds of international society or a disintegration of those bonds within and between nation-states? Will forces of localism, nationalism and regionalism abet or curb trends in favor of an international society sharing common values? While the two great ``isms'' of hate of the century--fascism and communism--have been defeated, a civilized international polity still begs establishment. Any neutral assessment of the United Nations to date must record the impressive strides that have been taken toward the development of a framework in which international law is advanced and global problems are addressed. Writing in 1950, the theologian Reinhold Neibuhr noted that the price of our survival was the ability to give leadership to the free world. Today, the price of the prosperity of the free world still depends on the willingness and ability of the United States to lead. No other society has the capacity or inclination to light freedom's lamp in quite the same way; is any other as capable of combining self-interest with a genuine historically-rooted concern for others. For the United States to deny its transnational responsibilities and thwart the development of internationalist approaches to problem-solving is to jeopardize a future of peace and prosperity for the planet. In a country in which process is our most important product, the challenge is to lead in expanding international law, economic as well as political, to advance new approaches to conflict resolution and to help institutionalize a civil international society capable of peacefully managing change in such a way that all countries derive benefit. Never in the course of human events has it been more important for individuals in public life to appeal to the highest rather than the lowest instincts of the body politic. Whether the issues be social or economic, domestic or international, the temptation to appeal to the darker side of human nature must be avoided. The stakes are too high. When it comes to national security the realist is always right to prepare for the worst, but a policy rooted in cynicism too easily leads to nihilism. With morality anchored in faith, man's destiny must be understood to be in man's hands. The implicit duty of public officials is to inspire hope rather than to manipulate fear. The health of nations is directly related to the temperance of statecraft. In the final measure the debate surrounding this bill involves issues of vision, of internationalism, of leadership. This Congress has an obligation, above all else, to understand the past and prepare for the future. This legislation fails on both counts.

Mr. LEACH

Mr. LEACH. Mr. Speaker, pursuant to clause 2(a), rule XI, I submit the Rules of the Committee on Banking and Financial Services for the 104th Congress as adopted on January 12, 1995. Rules of the Committee on Banking and Financial Services, One Hundred Fourth Congress rule i. general provisions 1. (a) The Rules of the House are the rules of the Committee and subcommittees so far as applicable, except that a motion to recess from day to day, and a motion to dispense with the first reading (in full) of a bill or resolution, if printed copies are available, are nondebatable motions of high privilege in the Committee and subcommittees. (b) Each subcommittee of the Committee is a part of the Committee, and is subject to the authority and direction of the Committee and to its rules so far as applicable. 2. The Committee shall submit to the House, not later than January 2 of each odd-numbered year, a report on the activities of the Committee under Rules X and XI of the Rules of the House during the Congress ending at noon on January 3 of such year. 3. The Committee's rules shall be published in the Congressional Record not later than 30 days after the Congress convenes in each odd-numbered year. rule ii. powers and duties 1. The powers and duties of the Committee are all those such as are enumerated or contained in the Rules of the House and the rulings and precedents of the House or the Committee. 2. For the purpose of carrying out any of its functions and duties under Rules X and XI of the Rules of the House, the Committee, or any subcommittee thereof, is authorized-- (a) to sit and act at such times and places with the United States, whether the House is in session, has recessed, or had adjourned, and to hold hearings; except as provided in Rule XI, clause 2 of the Rules of the House; (b) to conduct such investigations and studies as it may consider necessary or appropriate, and (subject to the adoption of expense resolutions as required by clause 5 of Rule XI of the Rules of the House) to incur expenses (including travel expenses) in connection therewith. The ranking minority Member of the full Committee or the relevant subcommittee shall be notified in advance at such times as any Committee funds are expended for investigations and studies involving international travel; and (c) to require, by subpoena or otherwise (subject to clause 3(a)), the attendance and testimony of such witnesses and the production of such books, records, correspondence, memoranda, papers, and documents, in whatever form, as it deems necessary. The Chairperson of the Committee, or any Member designated by the Chairperson, may administer oaths to any witness. Subpoenas 3. (a) A subpoena may be authorized and issued by the Committee or a subcommittee under clause 2(c) in the conduct of any investigation or series of investigations or activities, only when authorized by a majority of the Members voting, a majority being present. The power to authorize and issue subpoenas under clause 2(c) may be delegated to the Chairperson of the Committee pursuant to such limitations as the Committee may prescribe. Authorized subpoenas shall be signed by the Chairperson of the Committee or by any Member designated by the Committee. (b) Compliance with any subpoena issued by the Committee under clause 2(c) may be enforced only as authorized or directed by the House. Review of continuing programs 4. The Committee shall, in its consideration of all bills and joint resolutions of a public character within its jurisdiction, insure that appropriations for continuing programs and activities of the Federal Government and the District of Columbia government will be made annually to the maximum extent feasible and consistent with the nature, requirements, and objectives of the programs and activities involved. For the purposes of this paragraph, a government agency includes the organizational units of government listed in clause 7(c) of Rule XIII of the Rules of the House. 5. The Committee shall review, from time to time, each continuing program within its jurisdiction for which appropriations are not made annually in order to ascertain whether such program could be modified so that appropriations therefore would be made annually. Budget Act reports 6. The Committee shall, on or before February 25 of each year, submit to the Committee on the Budget-- (a) the Committee's views and estimates with respect to all matters to be set forth in the concurrent resolution on the budget for the ensuing fiscal year which are within its jurisdiction or functions; and (b) an estimate of the total amounts of new budget authority, and budget outlays resulting therefrom, to be provided or authorized in all bills and resolutions within the Committee's jurisdiction which it intends to be effective during that fiscal year. 7. As soon as practicable after a concurrent resolution on the budget for any fiscal year is agreed to, the Committee (after consulting of the Senate) shall subdivide any allocations made to it in the joint explanatory statement accompanying the conference report on such resolution, and promptly report such subdivisions to the House, in the manner provided by section 302 or section 602 (in the case of fiscal years 1991 through 1995) of the Congressional Budget Act of 1974. 8. Whenever the Committee is directed in a concurrent resolution on the budget to determine and recommend changes in laws, bills, or resolutions under the reconciliation process it shall promptly make such determination and recommendations, and report a reconciliation bill or resolution (or both) to the House or submit such recommendations to the Committee on the Budget in accordance with the Congressional Budget Act of 1974. Oversight report 9. Not later than February 15 of the first session of a Congress, the Committee shall meet in open session, with a quorum present, to adopt its oversight plans for that Congress for submission to the Committee on House Oversight and the Committee on Government Reform and Oversight, in accordance with the provisions of clause 2(d) of Rule X of the Rules of the House. The Chairperson shall consult with the ranking minority Member on the formulation of the oversight plan, and the Committee may not meet to adopt the plan unless a copy of the plan has been provided to all Members not less than two days in advance of the Committee meeting. rule iii. meetings Regular meetings 1. Regular meetings of the Committee shall be held on the first Tuesday of each month while the Congress is in session, and the Chairperson shall provide to each Member of the Committee, as far in advance of the day of the regular meeting as the circumstances make practicable, a written notice to that effect. Notwithstanding the preceding sentence, when the Chairperson believes that the Committee will not be considering any bill or resolution before the full Committee and that there is no other timely business to be transacted at a regular meeting, then no Committee meeting shall be held on that day. In such instances, the Chairperson shall not issue the notice of the regular meeting to the Members and the failure to receive such notice shall be treated by the Members as a cancellation of the regular meeting. Additional and special meetings 2. (a) The Chairperson may call and convene, as the Chairperson considers necessary, additional meetings of the Committee for the consideration of any bill or resolution pending before the Committee or for the conduct of other Committee business. The Committee shall meet for such purpose pursuant to that call of the chair. (b) No bill or joint resolution shall be considered by the Committee unless (i) such measure has been made available to all Members at least two calendar days prior to the meeting accompanied by a section-by-section analysis of such measure; and (ii) the Chairperson has notified members of the time and place of the meeting at least two calendar days before the commencement of the meeting. The provisions of this paragraph may be suspended by the Committee by a two-thirds vote or by the Chairperson, with the concurrence of the ranking minority Member of the full Committee. 3. If at least three Members of the Committee desire that a special meeting of the Committee be called by the Chairperson, those Members may file in the office of the Committee their written request to the Chairperson for that special meeting. Such request shall specify the measure or matter to be considered. Immediately upon the filing of the request, the clerk of the Committee shall notify the Chairperson of the filing of the request. If, within three calendar days after the filing of the request, the Chairperson does not call the requested special meeting, to be held within seven calendar days after the filing of the request, a majority of the Members of the Committee may file in the offices of the Committee their written notice that a special meeting of the Committee will be held specifying the date and hour thereof, and the measure or matter to be considered at that special meeting. The Committee shall meet on that date and hour. Immediately upon the filing of the notice, the clerk of the Committee shall notify all Members of the Committee that such special meeting will be held and inform them of its date and hour and the measure or matter to be considered; and only the measure or matter specified in that notice may be considered at that special meeting. Open meetings 4. (a) Each meeting for the transaction of business, including the markup of legislation, of the Committee or each subcommittee thereof, shall be open to the public including to radio, television and still photography coverage, except when the Committee or subcommittee, in open session and with a majority present, determines by roll call vote that all or part of the remainder of the meeting on that day shall be closed to the public because disclosure of matters to be considered would endanger national security, would compromise sensitive law enforcement information, or would tend to defame, degrade or incriminate any person, or otherwise would violate any law or rule of the House; provided, however, that no person other than members of the Committee and such congressional staff and such departmental representatives as they may authorize shall be present at any business or markup session which has been closed to the public. (b) Each hearing conducted by the Committee or each subcommittee thereof shall be open to the public including to radio, television and still photography coverage except when the Committee or subcommittee, in open session and with a majority present, determines by roll call vote that all or part of the remainder of that hearing on that day shall be closed to the public because disclosure of testimony, evidence, or other matters to be considered would endanger the national security or would compromise sensitive law enforcement information or would violate any law or rule of the House. Notwithstanding the requirements of the preceding sentence, a majority of those present (there being in attendance the requisite number required under the Rules of the Committee to be present for the purpose of taking testimony-- (1) may vote to close the hearing for the sole purpose of discussing whether testimony or evidence to be received would endanger the national security or would compromise sensitive law enforcement information or violate clause 6 of Rule IV; or (2) may vote to close the hearing, as provided in clause 6 of Rule IV. No Member may be excluded from nonparticipatory attendance at any hearing of the Committee or a subcommittee, unless the House of Representatives shall by a majority vote authorize the Committee or a particular subcommittee, for purposes of a particular series of hearings on a particular article of legislation or on a particular subject of investigation, to close its hearings to Members by the same procedures designated in this paragraph for closing hearings to the public; provided, however, that the Committee or subcommittee may by the same procedure vote to close one subsequent day of hearing. Broadcasting of committee meetings 5. Any meeting or hearing of the Committee or a subcommittee that is open to the public shall be open to coverage by television, radio, and still photography, subject to the requirements and limitations of clause 3 of Rule XI of the Rules of the House. The coverage of any meeting or hearing of the Committee or any subcommittee thereof by television, radio, or still photography shall be under the direct supervision of the Chairperson of the Committee, the subcommittee Chairperson, or other Member of the Committee presiding at such meeting. The number of television or still cameras shall not be limited to fewer than two representatives from each medium except for legitimate space or safety considerations, in which case pool coverage shall be authorized. Additional provisions 6. Meetings and hearings of the Committee or subcommittee shall be called to order and presided over by the Chairperson or, in the Chairperson's absence, by the member designated by the Chairperson as the Vice Chairperson of the Committee or subcommittee, or by the ranking majority Member of the Committee or subcommittee present. 7. No person other than a Member of Congress, Committee staff, or a person from a Member's staff when that Member has an amendment under consideration, may stand in or be seated at the rostrum area of the Committee unless the Chairperson determines otherwise. rule iv. Hearing procedures 1. The Chairperson, in the case of hearings to be conducted by the Committee, and the appropriate subcommittee Chairperson, in the case of hearings to be conducted by a subcommittee, shall make public announcement of the date, place, and subject matter at least one week before the commencement of that hearing. If the Chairperson, with the concurrence of the ranking minority Member, determines there is good cause to begin the hearing sooner, or if the committee or subcommittee so determined by majority vote, a quorum being present for the transaction of business, the Chairperson shall make the announcement at the earliest possible date. The clerk of the Committee shall promptly notify all Members of the Committee; the Daily Digest; Chief Clerk; Official Reporters; and the Committee scheduling services of House Information Systems as soon as possible after such public announcement is made. 2. (a) Each witness who is to appear before the Committee or a subcommittee shall file with the clerk of the Committee, at least 24 hours in advance of his or her appearance, 200 copies of the proposed testimony if the appearance is before the Committee, or 100 copies of the proposed testimony if the appearance is before a subcommittee; provided, however, that this requirement may be modified or waived by the Chairperson of the Committee or appropriate subcommittee, after consultation with the ranking minority Member, when the Chairperson determines it to be in the best interest of the Committee or subcommittee, and furthermore, that this requirement shall not be mandatory if a witness is given less than seven days notice of appearance prior to a hearing. (b) The Chairperson may require a witness to limit the oral presentation to a summary of the statement. and staff director shall cause to be prepared a concise summary of the subject matter (including legislative reports and other materials) under consideration which shall be made available immediately to all Members of the Committee. Calling and interrogation of witnesses 4. Whenever any hearing is conducted by the Committee on any subcommittee upon any measure or matter, the minority party Members on the Committee shall be entitled, upon request to the Chairperson by a majority of those minority Members before the completion of such hearing, to call witnesses selected by the minority to testify with respect to that measure matter during at least one day of hearing thereon. 5. Committee Members may question witnesses only when they have been recognized by the Chairperson for that purpose, and only for a 5-minute period until all Members present have had an opportunity to question a witness. the 5-minute period for questioning a witness by any one Member can be extended only with the unanimous consent of all Members present. The questioning of witnesses in both the full and subcommittee hearings shall be initiated by the Chairperson, followed by the ranking minority party Member and all other Members alternating between the majority and minority. In recognizing Members to question witnesses in this fashion, the Chairperson shall take into consideration the ratio of the majority to minority Members present and shall establish the order of recognition for questioning in such a manner as not to disadvantage the Members of the majority. Investigative hearing procedures 6. The following additional rules shall apply to investigative hearings: (a) The Chairperson, at any investigative hearing, shall announce in an opening statement the subject of the investigation. (b) A copy of the Committee rules and Rule XI, clause 2 of the Rules of the House shall be make available to each witness. (c) Witnesses at investigative hearings may be accompanied by their own counsel for the purpose of advising them concerning their constitutional rights. (d) The Chairperson may punish breaches of order and decorum, and of professional ethics on the part of counsel, by censure and exclusion from the hearings; and the Committee may cite the offender to the House for contempt. (e) Whenever it is asserted that the evidence or testimony at an investigative hearing may tend to defame, degrade, or incriminate any person, (i) such testimony or evidence shall be presented in executive session, notwithstanding the provisions of clause 4(b) of Rule III, if by a majority of those present, there being in attendance the requisite number required under the Rules of the Committee to be present for the purpose of taking testimony, the Committee determines that such evidence of testimony may tend to defame, degrade, or incriminate any person; and (ii) the Committee shall proceed to receive such testimony in open session only if a majority of the Members of the Committee, a majority being present, determine that such evidence or testimony will not tend to defame, degrade, or incriminate any person. In either case the Committee shall afford such person an opportunity voluntarily to appear as a witness; and receive and dispose of requests from such person to subpoena additional witnesses. (f) Except as provided in paragraph (e), the Chairperson shall receive and the Committee shall dispose of requests to subpoena additional witnesses. (g) No evidence or testimony taken in executive session may be released or used in public session without the consent of the Committee. (h) In the discretion of the Committee, witnesses may submit brief and pertinent sworn statements in writing for inclusion in the record. The Committee is the sole judge of the pertinency of testimony and evidence adduced at its hearing. (i) A witness may obtain a transcript copy of his or her testimony given at a public session, or, if given at an executive session, when authorized by the Committee. rules v. reporting of bills and resolutions 1. (a) It shall be the duty of the Chairperson of the Committee to report or cause to be reported promptly to the House any measure approved by the Committee and to take or cause to be taken necessary steps to bring the matter to a vote. (b) In any event, the report of the Committee on a measure which has been approved by the Committee shall be filed within seven calendar days (exclusive of days on which the House is not in session) after the day on which there has been filed with the clerk of the Committee a written request, signed by a majority of the Members of the Committee, for the reporting of that measure. Upon the filing of any such request, the clerk of the Committee shall transmit immediately to the Chairperson of the Committee notice of the filing of that request. 2. No measure or recommendation shall be reported from the Committee unless the quorum requirement of clause 1(a) of Rule VI is satisfied. Committee reports 3. The report of the Committee on a measure which has been approved by the Committee shall include-- (a) a cover page, which must show that supplemental, minority and additional views (if any), the estimate and comparison prepared by the Director of the Congressional Budget Office, and the recommendations of the Committee on Government Reform and Oversight (whenever submitted), are included in the report; (b) the amendments adopted by the Committee; (c) a section-by-section analysis of the bill as reported, whenever possible; (d) an explanation of the legislation, if the Chairperson decides one is necessary; (e) with respect to each role call vote on a motion to report any measure, and on any amendment offered to the measure, the total number of votes cast for and against, or present not voting and the names of those Members voting for and against, or present not voting; (f) the oversight findings and recommendations required pursuant to clause 2(b)(1) of Rule X of the Rules of the House separately set out and clearly identified; (g) the statement required by section 308(a)(1) of the Congressional Budget Act of 1974, separately set out and clearly identified, if the measure provides new budget authority, new spending authority described in section 401(c)(2) of such Act, new credit authority, or an increase or decrease in revenues or tax expenditures, except that the estimates with respect to new budget authority shall include, when practicable, a comparison of the total estimated funding level for the program (or programs) to the appropriate levels under current law; (h) the estimate and comparison prepared by the Director of the Congressional Budget Office under section 403 of such Act, separately set out and clearly identified, whenever the Director (if timely submitted prior to the filing of the report) has submitted such estimate and comparison to the Committee; (i) a summary of the oversight findings and recommendations made by the Committee on Government Reform and Oversight under clause 4(c)(2) of Rule X of the Rules of the House separately set out and clearly identified whenever such findings and recommendations have been submitted to the Committee in a timely fashion to allow an opportunity to consider such findings and recommendations during the Committee's deliberations on the measure; (j) for a bill or joint resolution of a public character reported by the Committee, a detailed analytical statement as to whether the enactment of such bill or joint resolution into law may have an inflationary impact on prices and costs in the operation of the national economy; (k) a statement in accordance with section 5(b) of the Federal Advisory Committee Act; (l) any supplemental, minority, or additional views, if submitted in accordance with clause 5; (m) the Ramseyer document required under clause 3 of Rule XIII of the Rules of the House; and (n) the estimate and comparison of costs incurred in carrying out the bill or resolution, as may be required by clause 7 of Rule XIII of the Rules of the House. 4. The report of the Committee, when filed with the House, shall be accompanied by three copies of the bill or resolution as introduced and one copy of the bill or resolution as amended. 5. (a) If, at the time of approval of any measure or matter by the Committee, any Member of the Committee gives notice of intention to file supplemental, minority, or additional views, that Member shall be entitled to not less than three calendar days (excluding Saturdays, Sundays, and legal holidays) in which to file such views, in writing and signed by that Member, with the clerk of the Committee. All such views so filed by one or more Members of the Committee shall be included within, and shall be part of, the report filed by the Committee with respect to that measure or matter. No report shall be filed until the Chairperson has notified, with opportunity for discussion, the ranking minority Member of the Committee and the Chairperson of the subcommittee from which the legislation emanated or would have emanated. The report of the Committee upon that measure or matter shall be printed in a single volume which-- (i) shall include all supplemental, minority, or additional views which have been submitted by the time of the filing of the report, and (ii) shall bear upon its cover a recital that any such supplemental, minority, or additional views and any material submitted under paragraphs (h) and (i) of clause 3 are included as part of the report. (b) This clause does not preclude-- (i) the immediate filing or printing of a Committee report unless timely request for the opportunity to file supplemental, minority, or additional views has been made as provided paragraph (a); or (ii) the filing by the Committee of any supplemental report upon any measure or matter which may be required for the correction of any technical error or omission in a previous report made by the Committee upon that measure or matter. Hearing prints 6. If hearings have been held on any such measure or matter so reported, the Committee shall make every reasonable effort to have such hearings printed and available for distribution to the Members of the House prior to the consideration of such measure or provided in clause 2(l)(6) of Rule XI of the Rules of the House. rule vi. quorums 1. (a) A quorum, for the purpose of reporting any bill or resolution, shall consist of a majority of the Committee actually present. (b) A quorum, for the purpose of taking any action other than the reporting of a bill or resolution, shall consist of one-third of the Members of the Committee. (c) A quorum, for the purpose of taking testimony and receiving evidence, shall consist of any two Members of the Committee. Proxies 2. No vote by any Member of the Committee or any of its subcommittees with respect to any measure may be cast by proxy. rule vii. subcommittees--jurisdiction 1. There shall be in the Committee on Banking and Financial Services the following standing subcommittees: Subcommittee on Housing and Community Opportunity; Subcommittee on Financial Institutions and Consumer Credit; Subcommittee on Domestic and International Monetary Policy; Subcommittee on Capital Markets, Securities and Government Sponsored enterprises; and Subcommittee on General Oversight and Investigations; each of which shall have the jurisdiction and related functions assigned to it by this rule; and all bills, resolutions, and other matters relating to subjects within the jurisdiction of this Committee shall be referred to such subcommittees at the discretion of the Chairperson. Subcommittee jurisdictions are as follows: Subcommittee on Housing and Community Opportunity (a) The jurisdiction of the Subcommittee on Housing and Community Opportunity extends to and includes: (i) all matters relating to housing (except programs administered by the Department of Veterans Affairs), including mortgage and loan insurance pursuant to the National Housing Act; rural housing; housing and homeless assistance programs; all activities of the Government National Mortgage Association; private mortgage insurance; housing construction and design and safety standards; housing-related energy conservation; housing research and demonstration programs; financial and technical assistance for nonprofit housing sponsors; housing counseling and technical assistance; regulation of the housing industry (including landlord/tenant relations); real estate lending including regulation of settlement procedures; (ii) matters relating to community development and community and neighborhood planning, training and research; national urban growth policies; urban/rural research and technologies; and regulation of interstate land sales; (iii) all matters relating to all government sponsored insurance programs, including those offering protection against crime, fire, flood (and related land use controls), earthquake and other natural hazards; and (iv) the qualifications for and designation of Empowerment Zones and Enterprise Communities (other than matters relating to tax benefits). Subcommittee on Financial Institutions and Consumer Credit (b) The jurisdiction of the Subcommittee on Financial Institutions and Consumer Credit extends to and includes: (i) all agencies which directly or indirectly exercise supervisory or regulatory authority in connection with, or provide deposit insurance for, financial institutions, and the establishment of interest rate ceilings on deposits; (ii) all auxiliary matters affecting or arising in connection with the supervisory and regulatory activities of the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Federal Reserve System, the Office of Thrift Supervision, and the National Credit Union Administration, together with those activities and operations of any other agency or department which relate to both domestic or foreign financial institutions; (iii) With respect to financial institutions and the department and agencies which regulate or supervise them, all activities relating to and arising in connection with the matters of chartering, branching, mergers, acquisitions, consolidations, and conversions; (iv) with respect to financial institutions and the agencies which regulate them, all activities relating to and arising in connection with the sale or underwriting of insurance and other noninsured instruments by financial institutions and their affiliates other than securities; (v) all activities of the Resolution Trust Corporation; (iv) all matters relating to consumer credit, including the provision of consumer credit by insurance companies, and further including those matters in the Consumer Credit Protection Act dealing with truth in lending, extortionate credit transactions, restrictions on garnishments, fair credit reporting and the use of credit information by credit bureaus and credit providers, equal credit opportunity, debt collection practices, and electronic funds transfers; (vii) creditor remedies and debtor defenses, Federal aspects of the Uniform Consumer Credit Code, credit and debit cards and the preemption of State usury laws; (viii) all matters relating to consumer access to financial services, including the Home Mortgage Disclosure Act and Community Reinvestment Act; (ix) the terms and rules of disclosure of financial services, including the advertisment, promotion and pricing of financial services, and availability of government check cashing services; (x) issues relating to consumer access to savings accounts and checking accounts in financial institutions, including lifeline banking and other consumer accounts; and (xi) all matters relating to the business of insurance, other than government sponsored insurance programs. Subcommittee on Domestic and International Monetary Policy (c) The jurisdiction of the Subcommittee on Domestic and International Monetary Policy extends to and includes: (i) all matters relating to all multilateral development lending institutions, including activities of the National Advisory Council on International Monetary and Financial Policies as related thereto, and monetary and financial development as they relate to the activities and objectives of such institutions; (ii) all matters within the jurisdiction of the Committee relating to international trade, including but not limited to the activities of the Export-Import Bank; (iii) the International Monetary Fund, its permanent and temporary agencies, and all matter related thereto; (iv) international investment policies, both as they relate to United States investments for trade purposes by citizens of the United States and investments made by all foreign entities in the United States; (v) all matters relating to financial aid to all sectors and elements within the economy, all matters relating to economic growth and stabilization, and all defense production matters as contained in the Defense Production Act of 1950, as amended, and all related matters thereto; (vi) all matters relating to domestic monetary policy and agencies which directly or indirectly affect domestic monetary policy, including the effect of such policy and other financial actions on interest rates, the allocation of credit, and the structure and functioning of domestic and foreign financial institutions; (vii) all matters relating to coins, coinage, currency and medals, including commemorative coins and medals, proof and mint sets and other special coins, the Coinage Act of 1965, gold and silver, including coinage thereof (but not the par value of gold), gold medals, counterfeiting, currency denominations and design, the distribution of coins, and the operations and activities of the Bureau of the Mint and the Bureau of Engraving and Printing; provided, however, that the Subcommittee shall not schedule a hearing on any commemorative medal or commemorative coin legislation unless the legislation is cosponsored by at least two-thirds of the Members of the House and has been recommended by the U.S. Mint's Citizens Commemorative Coin Advisory Committee in the case of a commemorative coin. In considering legislation authorizing Congressional gold medals, the subcommittee shall apply the following standards: (A) the recipient shall be a natural person; (B) the recipient shall have performed an achievement that has an impact on American history and culture that is likely to be recognized as a major achievement in the recipient's field long after the achievement; (C) the receipient shall not have received a medal previously for the same or substantially the same achievement; (D) the recipient shall be living or, if deceased, shall have been deceased for not less than five years and not more than 25 years; and (E) the achievements were performed in the recipient's field of endeavor, and represent either a lifetime of continuous superior achievements or a single achievement so significant that the recipient is recognized and acclaimed by others in the same field, as evidenced by the recipient having received the highest honors in the field. Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises (d) The jurisdiction of the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises extends to and includes: (i) all matters relating to depository institution securities activities, including the activities of any affiliates, except for functional regulation under applicable securities laws not involving safety and soundness; (ii) all matters related to bank capital markets activities; (iii) all matters related to the activities of financial institutions in financial markets involving futures, forwards, options and other types of derivative instruments; (iv) all matters relating to secondary market organizations for home mortgages including the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and the Federal Agricultural Mortgage Corporation; (v) all matters related to the Office of Federal Housing Enterprise Oversight; and (vi) all matters related to the Federal Housing Finance Board and the supervision and operation of the Federal Home Loan Banks. (e) The Subcommittee on General Oversight and Investigations shall have the responsibility of reviewing and studying, on a continuing basis: (i) the application, administration, execution, and effectiveness of the laws within the jurisdiction of the Committee, and the organization and operation of the Federal agencies and entities which have responsibility for the administration and execution thereof, in order to determine whether such laws and the programs thereunder are being implemented and carried out in accordance with the intent of the Congress and whether such programs should be continued, curtailed, or eliminated; (ii) any conditions or circumstances which may indicate the necessity or desirability of enacting new or additional legislation within the jurisdiction of the Committee (whether or not any bill or resolution has been introduced with respect thereto), and present any such recommendations as deemed necessary to the appropriate subcommittee(s) of the Committee; (iii) forecasting and future oriented research on matters within the jurisdiction of the Committee, and shall study all reports, documents and data pertinent to the jurisdiction of the Committee and make the necessary recommendations or reports thereon to the appropriate subcommittee(s) of the Committee; and (iv) the impact or probable impact of tax policies affecting subjects within the jurisdiction of the Committee; provided, however, that the operations of the Subcommittee on General Oversight and Investigations shall in no way limit the responsibility of the other subcommittees of the Committee on Banking and Financial Services from carrying out their oversight duties. Subcommittees--Referral of Legislation 2. The Chairperson shall notify each subcommittee Chairperson of all bills referred to any subcommittee on a bi-monthly basis. Upon notice, any subcommittee Chairperson may question a referral by giving written notice to the Chairperson of the full Committee and to the Chairperson of each subcommittee. A bill, resolution, or other matter referred to a subcommittee in accordance with this rule may be recalled therefrom at any time by the Chairperson, or by a majority vote of the majority Members of the Committee for the Committee's direct consideration or for reference to another subcommittee. 3. In carrying out this rule with respect to any matter, the Chairperson shall designate a subcommittee of primary jurisdiction; but also may refer the matter to one or more additional subcommittees, for consideration in sequence (subject to appropriate time limitations), either on its initial referral or after the matter has been reported by the subcommittee of primary jurisdiction; or may refer portions of the matter to one or more additional subcommittees (reflecting different subjects and jurisdictions) for the consideration only of designated portions; or may refer the matter to a special ad hoc subcommittee appointed by the Chairperson with the approval of the Committee (with members from the subcommittees having jurisdiction) for the specific purpose of considering that matter and reporting to the Committee thereon; or may make such other provisions as may be considered appropriate. rule viii. subcommittees--powers and duties 1. Each subcommittee is authorized to meet, hold hearings, receive evidence, and report to the full Committee on all matters referred to it or under its jurisdiction. Subcommittee Chairpersons shall set dates for hearings and meetings of their respective subcommittees after consultation with the Chairperson and other subcommittee Chairpersons and with a view toward avoiding simultaneous scheduling of full Committee and subcommittee meetings or hearings whenever possible. 2. Whenever a subcommittee has ordered a bill, resolution, or other matter to be reported to the Committee, the Chairperson of the subcommittee reporting the bill, resolution, or matter to the full Committee, or any Member authorized by the subcommittee to do so, may report such bill, resolution, or matter to the Committee. It shall be the duty of the Chairperson of the subcommittee to report or cause to be reported promptly such bill, resolution, or matter, and to take steps or cause to be taken the necessary steps to bring such bill, resolution, or matter to a vote. 3. No bill or joint resolution approved by a subcommittee shall be considered by the Committee unless such measure, as approved, has been made available to all Members at least two calendar days prior to the meeting, accompanied by a section- by-section analysis of such measure. The provisions of this paragraph may be suspended by the Committee by a two-thirds vote or by the Chairperson, with the concurrence of the ranking minority Member of the full Committee. 4. All Committee or subcommittee reports printed pursuant to a legislative study or investigation and not approved by a majority vote of the Committee or subcommittee, as appropriate, shall contain the following disclaimer on the cover of such report. ``This report has not been officially adopted by the Committee on Banking and Financial Services (or pertinent subcommittee thereof) and may not therefore necessarily reflect the views of its Members.'' 5. Bills, resolutions, or other matters favorably reported by a subcommittee shall automatically be placed on the agenda of the Committee as of the time they are reported and shall be considered by the full Committee in the order in which they were reported unless the Chairperson after consultation with the ranking minority Member and appropriate subcommittee Chairperson, otherwise directs; provided, however, that no bill reported by a subcommittee shall be considered by the full Committee unless each Member has been provided with reasonable time prior to the meeting to analyze such bill, together with a comparison with present law and a section-by- section analysis of the proposed change. 6. No bill or joint resolution may be considered by a subcommittee unless such measure has been made available to all Members at least two calendar days prior to the meeting, accompanied by a section-by-section analysis of such measure. The provisions of this paragraph may be waived following consultation with the appropriate ranking minority Member. 7. All Members of the Committee may have the privilege of sitting with any subcommittee of which they are not a Member, during the subcommittee's hearings or deliberations and may participate in such hearings or deliberations after Members of the subcommittee have been given an opportunity to participate, but no such Member who is not a Member of the subcommittee shall vote on any matter before such subcommittee. The Chairperson and ranking minority Member of the Committee shall be ex officio, non-voting members of each subcommittee of the Committee. Rule ix. subcommittees--size and ratios 1. To the extent that the number of subcommittees and their party ratios permit the size of all subcommittees shall be established so that the majority party Members of the Committee have an equal number of subcommittee assignments; provided, however, that a majority Member may waive his or her right to an equal number of subcommittee assignments on the Committee. 2. The following shall be the sizes and ratios for subcommittees: (a) Subcommittee on Housing and Community Opportunity: Total 22--Majority 12, Minority 10. (b) Subcommittee on Financial Institutions and Consumer Credit: Total 22--Majority 12, Minority 10. (c) Subcommittee on Domestic and International Monetary Policy: Total 20--Majority 11, Minority 9. (d) Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises: Total 20--Majority 11, Minority 9. (e) Subcommittee on General Oversight and Investigations: Total 10--Majority 6, Minority 4. rule x. budget and staff 1. The Chairperson, in consultation with other Members of the Committee, shall prepare for each Congress a budget providing amounts for staff, necessary travel, investigations and other expenses of the Committee and its subcommittees and shall present same to the Committee. 2. (a) Except as provided in paragraph (b), the professional and investigative staff of the Committee shall be appointed, and may be removed, by the Chairperson and shall work under the general supervision and direction of the Chairperson. (b) All professional and investigative staff provided to the minority party Members of the Committee shall be appointed, and may be removed, by the ranking minority Member of the Committee and shall work under the general supervision and direction of such Member. 3. (a) From funds made available for the appointment of staff, the Chairperson of the Committee shall, pursuant to clause 5(d) of Rule XI of the Rules of the House ensure that sufficient staff is made available to each subcommittee to carry out its responsibilities under the rules of the Committee, and, after consultation with the ranking minority Member of the Committee, that the minority party of the Committee is treated fairly in the appointment of such staff. (b) Except as provided in paragraph (c), the Chairperson shall fix the compensation of all professional and investigative staff of the Committee. (c) The ranking minority Member shall fix the compensation of all professional and investigative staff provided to the minority party Members of the Committee. 4. From the amount provided to the Committee in their primary expense resolution adopted by the House of Representatives, the Chairperson, after consultation with the ranking minority Member, shall designate an amount to be under the direction of the ranking minority Member for the compensation of the minority staff, travel expenses of minority Members and staff, and minority office expenses. All expenses of minority Members and staff shall be paid for out of the amount so set aside. 5. It is intended that the skills and experience of all members of the Committee staff be available to all Members of the Committee.

Mr. LEACH

Mr. LEACH. Mr. Chairman, some concerns have been expressed about how the balanced budget amendment, if ratified, could effect the Federal Government's ability to issue debt, manage its cash position, and borrow money at the lowest rate. For instance, under present budgetary requirements, budget outlays for direct loans, such as those provided by the Eximbank and USDA, consist of the net present value of the However, Treasury still must borrow the full amount of the loan. It is expected that cash disbursements will exceed $70 billion during fiscal year 1995-99. Under House Joint Resolution 1, the debt limit would have to be increased by a three-fifths majority of each House in order to accommodate these disbursements, even if the budgets were balanced in those years and the loans eventually were paid back in full. In addition, the Federal Government's cash requirements vary from year to year, making it difficult to estimate its revenue needs. For example, a large number of unexpected thrift and bank failures in 1 year could cause the budget to be unbalanced. Finally, some have argued that given the constraints of a balanced budget amendment and the three-fifths requirement, Congress will look for ways to borrow money off budget, which is usually more costly than on-budget financing. A good example of a more costly off-budget financing scheme was the reliance on REFCORP bonds to finance part of the S&L bailout. While the above budgetary concerns at first blush would appear problemsome, they should not pose insurmountable obstacles to successful implementation of a balanced budget amendment. Many of these cash management problems can be addressed with more prudential planning. Furthermore, section 8 of House Joint Resolution 1 allows Congress to enact laws to implement this constitutional amendment. Through legislative adjustments Congress retains the flexibility to square the various nuances and vagaries of Federal Government debt management with the constitutional requirement of a balanced budget.