Frank Lucas

Mr. LUCAS

Mr. LUCAS. I yield the entire sum to myself, Mr. Speaker. I want to thank the chairman emeritus of the Energy and Commerce Committee and the ranking member, Mr. Barton. You were kind to help us. You were kind to work with us. But the bottom line is the minority party of the Ag Committee should not have to go to the Energy and Commerce committee to work on an ag-related section of the bill. Thank you, gentlemen. I appreciate you. But you shouldn't have had to have done it.

Mr. LUCAS. Mr. Chairman, I rise to yield 1 minute to the gentleman from Pennsylvania (Mr. Thompson).

Mr. LUCAS

Mr. LUCAS. Madam Speaker, pursuant to the Republican Leadership standards on earmarks, I am submitting the following information regarding earmarks I received as part of the Labor, Health and Human Services, Education, and Related Agencies Appropriations Act, H.R. 3293. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 3293 Account: Elementary & Secondary Education (includes FIE) Legal Name of Requesting Entity: Southwestern Oklahoma State University Address of Requesting Entity: 100 Campus Drive, Weatherford, Oklahoma 73096, USA Description of Request: I received $350,000 for Southwestern Oklahoma State College. The funding for this project will be used to purchase equipment for the Industrial and Engineering Technology Department at Southwestern Oklahoma State College. This equipment will ensure that the program is technologically current and maintains a high quality of education. In addition, it enables the program to continue to strengthen Oklahoma's industrial and engineering technology workforce. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 3293 Account: Elementary & Secondary Education (includes FIE) Legal Name of Requesting Entity: Western Oklahoma State College Address of Requesting Entity: 2801 N Main St., Altus, Oklahoma 73521, USA Description of Request: I received $100,000 for Western Oklahoma State College to upgrade its campus security system. The funding for this project will be used for technology and equipment upgrades in order to implement a campus-wide emergency mass notification and campus access plan. Improvments will include campus security cameras, email and text-messaging emergency notification, campus-wide panic buttons, wall-mounted strobe lights for color-coded notification system, and smart-card access to campus entrances. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 3293 Account: Health Resources and Services Administration (HRSA)--Health Facilities and Services Legal Name of Requesting Entity: Oklahoma State University Center for Health Sciences Address of Requesting Entity: 1111 West 17th Street, Tulsa, Oklahoma 74107, USA Description of Request: I received $300,000 for Oklahoma State University Center for Health Sciences. The funding for this project will be used to expand and enhance the OSU Center for Health Science's health information technology system, including its telemedicine and distance learning as well as electronic medical records network. Additionally, it will bring diagnostic and medical services to geographic regions in Oklahoma where even telemedicine is not yet feasible or reasonably located by use of a mobile clinic. The mobile clinics will be available to provide medical services in response to natural or manmade disasters. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 3293 Account: Health Resources and Services Administration (HRSA)--Health Facilities and Services Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma 74078, USA Description of Request: I received $350,000 for Oklahoma State University. Oklahoma State University has formed a public-private partnership for training, education and research in proton therapy for training, education and research in proton therapy for the treatment of cancer. ProCure is currently completing construction of a multi-million dollar proton treatment facility in Oklahoma City, dedicated to the treatment of cancer. The funding for this project will be used for equipment for the facility. This facility will allow access to world- leading technology for patients in the central region of the United States.

Mr. LUCAS

Mr. LUCAS. Mr. Speaker, an uneven playing field already exists between large financial institutions and smaller community banks. Rather than working to close that gap, however, President Obama has decided to further our community bankers' burdens with his Consumer Financial Protection Agency. Under this new agency, community banks that have continued to provide a reliable source of credit to their customers will be saddled with additional costs and regulations that could potentially drive many out of business. In addition, these increased costs will be passed along to consumers in the form of higher bank fees and less availability of credit. So, exactly how is this supposed to help our current financial crisis? It appears as though, once again, this administration plans to force Main Street to pay for the mistakes made on Wall Street as they continue to follow their financial policy of ``too big to fail, too small to matter.'' Reform is needed within our financial system, but that reform cannot sacrifice the health of our small financial institutions.

Mr. LUCAS

Mr. LUCAS. Madam Speaker, pursuant to the Republican Leadership standards on earmarks, I am submitting the following information regarding earmarks I received as part of the Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, H.R. 3288. Requesting Member: Congressman Frank D. Lucas Bill Number: HR 3288 Account: Federal Highway Administration, Transportation & Community & System Preservation Legal Name of Requesting Entity: City of Clinton Address of Requesting Entity: 415 Gary Blvd., Clinton, Oklahoma 73601 Description of Request: I received $400,000 for the City of Clinton to reconstruct Chapman Road. The location of this project is between sections 22 and 27 of T12N, R17W Custer County Oklahoma and west of Neptune Dr. and east of 28th St. in Clinton, OK. This funding will be used to improve Chapman Road to modern day standards so that is can better serve the citizens that use the road daily as well as provide a safer roadway to visitors. The improvements needed include the acquisition of seven feet of right-of-way, clearing ditch and channel drainage runoff areas, reconstructing a portion of the roadway adversely affected by storm water runoff, resurfacing the remaining portion to meet both current and future traffic demands, installing roadway lighting, and installing traffic control and directional signs. Requesting Member: Congressman Frank D. Lucas Bill Number: HR 3288 Account: Federal Highway Administration, Transportation & Community & System Preservation Legal Name of Requesting Entity: Oklahoma Department of Transportation Address of Requesting Entity: 200 NE 21st Street, Oklahoma City, Oklahoma 73105 Description of Request: I received $400,000 for the Oklahoma Department of Transportation to widen US 60 between Bartlesville and Pawhuska in Osage County, Oklahoma. The project will reconstruct the existing two lane US 60 to an adequate two lane facility with shoulders, adequate bridge load-bearing capacity, and corrected substandard geometric features (hills and curves) from the US/SH99 intersection north of Pawhuska eastward approximately 16 miles. Increased safety will result with the addition of adequate lane widths, shoulders, bridges and improved sight distances.

Mr. LUCAS

Mr. LUCAS. Madam Speaker pursuant to the Republican Leadership standards on earmarks, I am submitting the following information regarding earmarks I received as part of H.R. 3183, the Energy and Water Development and Related Agencies Appropriations Act, 2010. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 3183 Account: Construction Legal Name of Requesting Entity: Oklahoma Water Resources Board Address of Requesting Entity: 3800 North Classen Boulevard, Oklahoma City, OK 73118 Description of Request: I have received $800,000 for the Red River Basin Chloride Control project. This improvement project is designed to control natural chloride brine emissions at three major source areas to improve water quality for municipal, industrial, and agricultural use. Improvements include construction of low flow dams, pump stations, and diversion pipelines to a brine reservoir. The state of Oklahoma expressed a renewed interest in the Area VI element of the project and supports the Area VI reevaluation efforts underway. Area VI is located on the Elm Fork of the North Fork of the Red River in Greer County, Oklahoma. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 3183 Account: EERE Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $250,000 for the Consolidate Alternative Fuels Research project. The funding would support a feasibility study of a proposed project on the Oklahoma State University Stillwater campus to create a unique facility that provides both a regional/national research and testing center for alternative fuels and a training facility for transit and local government transportation. The facility would provide accommodations for a distinct teaching venue that OSU staff will use to instruct urban and rural transit agencies, county and state highway offices, and Native American tribal staffs in the latest technological advances in alternative and conventional fuel/vehicle operations. In addition, this facility will provide maintenance procedure guidance and transit anti- terrorist training.

Mr. LUCAS

Mr. LUCAS. Madam Speaker, pursuant to the Republican Leadership standards on earmarks, I am submitting the following information regarding earmarks I received as part of H.R. 2997, the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2010. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 2997 Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $209,000 for the Pilot Technology Transfer project. This funding will be used to provide technology transfer services and engineering assistance to small, rural manufacturers with the goal of improving their profitability and enhancing the economy in rural communities. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 2997 Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $274,000 for the Animal Waste Management project. This funding will be used to develop sustainable, environmentally safe, and ecologically healthy animal waste management practices in semiarid ecosystems that contribute to economic development in rural communities. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 2997 Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $839,000 for the Biomass- based Energy Research project. This funding will be used to find an alternative to traditional fuel sources, and to enhance rural economic development through the use of plant materials. A consortium of three universities (Oklahoma State University, Oklahoma University, and Mississippi State University) is working to refine and commercialize a unique gasification-fermentation process utilizing biomass to produce liquid fuel. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 2997 Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $223,000 for the Expanded Wheat Pasture project. This funding will be used to develop science and technologies, uniquely adapted wheat varieties, decision-support economic models, and extension education programs to increase profitability of the many dual-purpose wheat enterprises. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 2997 Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $382,000 for the Food Safety project. This funding will be used to conduct research and testing to develop rapid and efficient methods for detecting and controlling food borne pathogens throughout the food chain from point of origin to consumption. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 2997 Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $177,000 for the Integrated Production Systems project. This funding will be used to conduct research to develop and refine crop management techniques that enable environmentally sound and economically feasible production of alternative crops that will best utilize natural resources as they produce organically grown vegetable crops and crops for the bio-fuel industry. Requesting Member: Congressman Frank D. Lucas Bill Number: H.R. 2997 Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $174,000 for the Preservation and Processing Research project. This funding will be used to emphasize research, development and implementation of integrated cropping, harvesting, storage and processing systems to facilitate new crop endeavors and assist new business development, to maintain and improve profitability for horticulture.

Mr. LUCAS

Mr. LUCAS. Madam Speaker, I wish to recognize the gentleman from Texas (Mr. Conaway) for 1 minute.

Mr. LUCAS. Madam Speaker, I yield 1 minute to the gentleman from Iowa (Mr. King).

Mr. LUCAS. Madam Speaker, once again I would like to yield 1 minute to the gentleman from Pennsylvania (Mr. Thompson).

Mr. LUCAS. Madam Speaker, I yield myself the remainder of my time.

Mr. LUCAS. Madam Speaker, my fellow Members, let me rise to conclude the House Agriculture Republican portion of this discussion this evening and remind my colleagues one more time that this bill has a tremendous effect on rural America and production agriculture. When 115 farm groups send in letters, and food groups, expressing their opposition to the bill, that says something, 115 groups. Madam Speaker, I submit a list of these groups for the Record. Agriculture Groups Oppose to Waxman-Markey--as of June 26, 2009 1. Agribusiness Association of Iowa 2. Agricultural Retailers Association 3. Agrium Inc. 4. Alabama Farmers Federation 5. American Agri-Women 6. American Farm Bureau Association 7. American Farmers & Ranchers 8. American Feed Industry Association 9. American Frozen Food Institute 10. American Meat Institute 11. American Plant Food Corporation 12. AmeriFlax 13. Associated Industries of Florida 14. Beck' Superior Hybrids 15. Brandt Consolidated 16. CF Industries 17. Chemical Industry Council of Illinois 18. CHS Inc. 19. Corn Producers Association of Texas 20. D.B. Western, Inc. 21. Far West Agribusiness Association 22. Florida Chamber of Commerce 23. Florida Farm Bureau Federation 24. Florida Fertilizer & Agrichemical Association 25. Florida Strawberry Growers Association 26. Food Industry Environmental Council 27. GROWMARK 28. Hardee County Farm Bureau (FL) 29. Hillsborough County Farm Bureau (FL) 30. Illinois Farm Bureau 31. Illinois Fertilizer & Chemical Association 32. Indiana Beef Cattle Association 33. Indiana Farm Bureau 34. Indiana Grain & Feed Association 35. Indiana Office of Energy Development 36. Indiana Plant Food & Ag Chemicals Association 37. Indiana Pork Producers Association 38. Indiana Professional Dairy Producers 39. Indiana State Department of Agriculture 40. Indiana State Poultry Association 41. Institute for Shortening and Edible Oils 42. International Raw Materials, Ltd. 43. J.R. Simplot Company 44. Kansas Agribusiness Retailers Association 45. Kansas Grain and Feed Association 46. Minnesota Agri-Growth Council 47. Minnesota Corn Growers Association 48. Minnesota Crop Production Retailers 49. Missouri Agribusiness Association 50. Missouri Farm Bureau 51. Montana Agricultural Business Association 52. National Cattlemen's Beef Association 53. National Chicken Council 54. National Grain and Feed Association 55. National Grange 56. National Meat Association 57. National Oilseed Processors Association 58. National Pork Producers Council 59. National Turkey Federation 60. Nebraska Farm Bureau 61. NCRA 62. Nebraska Agri-Business Association 63. New Mexico Peanut Growers Association 64. North American Millers Association 65. North Carolina Peanut Growers Association 66. North Dakota Agricultural Association 67. North Dakota Barley Council 68. North Dakota Farm Bureau 69. North Dakota Grain Dealers Association 70. North Dakota Grain Growers Association 71. North Dakota Soybean Growers Association 72. North Dakota Stockmen's Association 73. North Dakota Wheat Commission 74. Northern Canola Growers Association 75. Northern Pulse Growers Association 76. Ohio Corn Growers Association 77. Ohio Farm Bureau 78. Ohio Poultry Association 79. Ohio Rural Electric Cooperatives, Inc. 80. Ohio Wheat Growers Association 81. Oklahoma Ag Retailers Association 82. Oklahoma Grain & Feed Association 83. Oklahoma Peanut Commission 84. Oklahoma Seed Trade Association 85. Oklahoma Wheat Growers Association 86. Panhandle Peanut Growers Association 87. Peace River Valley Citrus Growers Association 88. Peanut Growers Cooperative Marketing Association 89. Polk County Farm Bureau (FL) 90. PotashCorp 91. Rocky Mountain Agribusiness Association 92. Sarasota County Farm Bureau (FL) 93. Society of American Florists 94. South Carolina Fertilizer & Agrichemicals Association 95. South Carolina Peanut Growers Association 96. South Dakota Agri-Business Association 97. South Dakota Farm Bureau 98. South Dakota Grain & Feed Association 99. Southern Crop Production Association 100. Southwest Council of Agribusiness 101. Terra Industries Inc. 102. Texas Agricultural Cooperative Council 103. Texas Cattle Feeders Association 104. Texas Farm Bureau 105. Texas Grain & Feed Association 106. Texas Peanut Producers Board 107. Texas Sheep & Goat Raisers Association 108. Texas Wheat Producers Association 109. The Andersons, Inc. 110. The Fertilizer Institute 111. The McGregor Company 112. Todd Staples, Commissioner, Texas Department of Agriculture 113. Tom Farms (Kip Tom, CEO) 114. United Egg Producers 115. USA Rice Federation 116. Virginia Peanut Growers Association 117. W.B. Johnston Grain Co. 118. Western Peanut Growers Association 119. Western Plant Health Association 120. Wyoming Stock Growers Association Madam Speaker, I would also be remiss if I didn't express my appreciation and the appreciation of my colleagues on the Republican side of the Agriculture Committee to Chairman Peterson. He made, we believe, good-faith efforts with Chairman Waxman to try to correct the worst features of this bill. Unfortunately, good faith in the legislative process doesn't always cure every problem. The fundamental underlying issue still is this bill will raise the cost of energy for production agriculture, an energy-intensive business. It will reduce our competitiveness with our competitors around the world, South America, Asia, Europe. But look at the way the so-called grand compromise on agriculture was put together. ``Compromise'' is a phrase used in one of the electronic publications this morning. Indirect land use, where an agency of the Federal Government can determine how your corn farm or your wheat farm affects farms on other continents and tell you to change the way you do your business? Now, I know the bill says that can't happen for 5 years, and we will have a study and a moratorium for another year. But 6 years from now, 6 years from now, it comes at us like a brick bat. The section of the bill talking about farms being able to be rewarded for good stewardship, carbon sequestration and those kinds of matters, the bill says the amendment adopted, the practices can only be rewarded if they began after 2001. You heard my friend from Iowa talk about the percentage of corn farmers who adopted those good practices before 2001. How do you explain to the folks back home that the good farmers, the good stewards, don't get anything, but the bad farmers who waited until they were shamed or embarrassed into adopting the best practices get rewarded? Renewable fuel. Yes, we protect facilities that were under construction or have been completed or in production in 2007 and before, but that doesn't apply to everything since then. If you have got a mature ethanol plant, you are in good shape. But does that mean no one else can build an ethanol plant? We, on the minority side of the Ag Committee, view ourselves as the conscience of the body. We have a responsibility to defend rural America and production agriculture. We thank Chairman Peterson for what he tried to accomplish, but we believe it is not enough to protect the future of farming and ranching and the folks out in rural America. That's why we have to be united in our opposition against this bill. I am a farmer by trade. I may not always be a Member of this body, but I am going home to Oklahoma. I can't vote for this and go home to Oklahoma.

Mr. LUCAS. I yield the gentleman an additional 15 seconds.

Mr. LUCAS. Madam Speaker, I recognize the gentleman from Ohio (Mr. Latta) for 1 minute.

Mr. LUCAS. Madam Speaker, I yield 2 minutes to the gentleman from Kansas (Mr. Moran).

Mr. LUCAS. Madam Speaker, I recognize the gentleman from Virginia (Mr. Goodlatte) for 2 minutes. (Mr. GOODLATTE asked and was given permission to revise and extend his remarks.)

Mr. LUCAS. Madam Speaker, I thank the gentleman from Texas, and I yield myself such time as I may consume. The Waxman-Markey bill promises to destroy our standard of living and the quality of life with higher energy costs, higher food prices, and lost jobs. The bill is the single largest economic threat to our farmers and ranchers in decades. We have more than 115 agricultural and food groups who publicly oppose this bill as of today, and I ask that the list be entered in the Record. Do you know why? The greatest threat to our agricultural producers is ignored. Under H.R. 2454, input costs will escalate as a direct result of the energy tax. Meanwhile, the markets for their crops will shrink because of foreign competitors whose governments will not place burdens on their farmers. They will be able to undersell us. And what about the billions of dollars annually that farmers are supposed to garner selling offset credits? Many farmers will not be able to participate. Soil sequestration of carbon was going to be the way for farmers to generate credits, but if the producer started soil tillage practices before 2001, they will be ineligible to participate. The amendment does not exempt agriculture from performance standards in the bill, which means the EPA could tell our producers how to manage their farms. This bill will tax you. This bill will destroy the livelihoods of those who live and work in rural America, those who work every day to consistently provide our Nation and the world with a safe, affordable, abundant food and fiber supply. Agriculture sits squarely in the crosshairs of this bill because it is energy intensive. Whether it is the fuel for the tractor, the fertilizer for the crops, or the delivery of food to the grocery store, agriculture uses a great deal of energy throughout production and processing. Although USDA hasn't devoted any time or resources to complete an economic analysis of how this bill will impact farmers, the Heritage Foundation has. A recent study from the Heritage Foundation revealed that by the year 2035, the average net income for farms will be decreased by 57 percent. And also by 2035, gasoline and diesel costs are expected to be 58 percent higher and electric rates 90 percent higher. For example, residents in Oklahoma can expect their electric rates to increase by $300 million. So why are we doing this bill? So the U.S. can lead on climate change in the world? We can lead when China and India have refused to participate? We can lead when Europe is willing to do half of what this bill calls for? We can lead when the rest of the developing world is unable to do anything at all about climate change? Some of my idealistic colleagues will say we have to set a standard for the rest of the world. But I say I will not make any constituents poor--poorer--so that others can get richer at our expense. My friends, this is the wrong bill at the wrong time for the wrong reason. Madam Speaker, I reserve the balance of my time.

Mr. LUCAS

Mr. LUCAS. The Waxman-Markey bill is one of the most monumental bills that this Congress will consider. It has the potential to permanently damage the standard of living for every man, woman, and child for decades to come. Yet Speaker Pelosi and the administration want to force this bill through Congress. This bill will tax you. It creates a massive national energy tax that will be devastating to those who live and work in rural America. It promises higher energy costs, lost jobs and higher food prices. This bill will affect all of us. If you like being warm in the winter, if you like being cool in the summer, if you own a farm or a small business, if you like to eat, if you like to go anywhere, this bill will affect you. Agriculture is squarely in the crosshairs of this bill because it is energy intensive. That is why 40 agricultural groups, including the American Farm Bureau, have expressed opposition to it. No large farm group has endorsed it. A 1,000-page bill of this magnitude deserves thoughtful consideration and debate. Instead, Speaker Pelosi is rushing it through Congress to the detriment of all of us.

Mr. LUCAS

Mr. LUCAS. Mr. Speaker, I am appalled at the blatant disregard for the public policy process. What kind of trick is being played out on the American people when half of H.R. 1256--the half that pays for FDA legislation--comes on suspension of the rules and the other half, the part that burdens American companies with more taxes and regulation, comes under a closed rule? This bill gives FDA broad statutory authority to regulate the manufacturing, distribution, advertising, promotion, sale, and use of cigarettes and smokeless tobacco. And, it will ultimately result in FDA being on the farm micromanaging our farmers. FDA has clearly proven it is severely overburdened with its current authority. Just look to the recent examples of salmonella found in peanut and pistachio products. Why would we give a huge new expansion of authority to an agency that has proven it can't handle the load it has? Can you honestly tell the American people to have confidence in the FDA to protect them? How will this new authority be paid for? New taxes, of course. The bill taxes companies and importers to pay for the cost of regulation. The bill sets the amount of the assessments each year, which will increase to $712 million per year. Also, this bill calls for using funds from the Thrift Savings Plan. Do we really want to use the savings portion of the bill to pay for more Washington bureaucracy? Tobacco producers, small convenience stores, and tobacco warehouseman, which are the backbones of commerce across poor and rural districts, will be put out of business under this bill. And, farmers--beware--FDA will come directly on your farm and tell you how to operate. Producers will bear the brunt of this legislation. FDA will tell producers what type of seeds they can plant, the methods in which they cultivate those seeds, the records they must keep and on and on and on. I ask for a ``no'' vote on this classic tax and regulate bill.

Mr. LUCAS

Mr. LUCAS. Mr. Chair, I rise today in strong opposition to this legislation. Many of my colleagues today have made excellent points about the real effect of this legislation. This legislation will most certainly not help those who it is designed to help. It will drive up the cost of loans, limit the number of loans that can be made, raise interest rates, and increase opportunities for abuse in the bankruptcy system. I want to focus the House today on another important problem that has not been discussed: how the bankruptcy laws and the accounting rules and treatments combine to do potentially substantial and lasting damage to the financial system. Under existing accounting rules, any bankruptcy loss may be considered an indication of impairment. The term that is used by accountants is ``other than temporarily impaired'', or ``OTTI''. I want to make sure that the House understands the consequences of this problem in the real world. Even if a company took a small bankruptcy loss on one of the residential mortgage-backed securities (RMBS) that it owns, the amount of loss that would be recognized in that company's income statement is a full writedown to deeply depressed market values, not just the amount deemed to be a bankruptcy. Any loss of principal, current or future, requires this treatment no matter what term is used to describe the loss. If a judge can adjust principal, then a significant detrimental impact to the company will automatically follow. The House must clearly understand that the losses which would be recognized by financial institutions in this situation are far greater than the amount of the bankruptcy losses. Any RMBS holder will have to record these losses in the same manner, and so the threat of bankruptcy ``cramdowns'' casts a huge shadow across the entire financial services industry. For example, if a company owns five million dollars ($5,000,000) in RMBS with a current market value of $2,500,000, and there is a bankruptcy loss per the judge of fifty thousand dollars ($50,000 economic loss) to the preferred RMBS tranche, the required financial statement loss under existing accounting rules would be two million five hundred thousand dollars ($2,500,000). In this example, accounting rules require booking the financial statement loss at fifty times the actual economic loss. This is a stark, but true, statement of the horrific impact that existing accounting rules are likely to have on the financial services industry in the event this legislation becomes law. It would only take a few of these kinds of losses to destroy the current year operating positions of any company and greatly impact its overall capital position. This means that the cramdown legislation the House considers today carries with it a virus that threatens to consume significant parts of the financial services industry, particularly any company that is a significant holder of RMBS. The Majority either does not understand, or has chosen not to deal with, this significant and looming problem. Likewise, there is a lack of understanding about the major role that accounting rules and treatments play in it. I earnestly hope that our colleagues in the other body will address this issue squarely, and understand that cramdown without accounting reform and strict limitations on the discretion of bankruptcy judges has the potential to create significant and unanticipated collateral damage to our financial system, as well as loss of credibility with financial services industry customers and widespread negative ratings from all rating agencies.

Mr. LUCAS

Mr. LUCAS. Madam Speaker, pursuant to the Republican Leadership standards on earmarks, I am submitting the following information regarding earmarks I received as part of FY 2009 Omnibus. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $209,000 for the Pilot Technology Transfer project. This funding will be used to provide technology transfer services and engineering assistance to small, rural manufacturers with the goal of improving their profitability and enhancing the economy in rural communities. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $274,000 for the Animal Waste Management project. This funding will be used to develop sustainable, environmentally safe, and ecologically healthy animal waste management practices in semiarid ecosystems that contribute to economic development in rural communities. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $839,000 for the Biomass- based Energy Research project. This funding will be used to find and alternative to traditional fuel sources, and to enhance rural economic development through the use of plant materials. A consortium of three universities (Oklahoma State University, Oklahoma University, and Mississippi State University) is working to refine and commercialize a unique gasification-fermentation process utilizing biomass to produce liquid fuel. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $223,000 for the Expanded Wheat Pasture project. This funding will be used to develop science and technologies, uniquely adapted wheat varieties, decision-support economic models, and extension education programs to increase profitability of the many dual-purpose wheat enterprises. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $382,000 for the Food Safety project. This funding will be used to conduct research and testing to develop rapid and efficient methods for detecting and controlling food borne pathogens throughout the food chain from point of origin to consumption. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $177,000 for the Integrated Production Systems project. This funding will be used to conduct research to develop and refine crop management techniques that enable environmentally sound and economically feasible production of alternative crops that will best utilize natural resources as they produce organically grown vegetable crops and crops for the bio-fuel industry. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Cooperative State Research Education and Extension Service, Research and Education Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I have received $174,000 for the Preservation and Processing Research project. This funding will be used to emphasize research, development and implementation of integrated cropping, harvesting, storage and processing systems to facilitate new crop endeavors and assist new business development, to maintain and improve profitability for horticulture. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Corps of Engineers, MRT-Construction Legal Name of Requesting Entity: Corps of Engineers Address of Requesting Entity: 441 G Street, NW, Washington, District of Columbia, USA Description of Request: I received $2,201,000 for the Red River Chloride Control Project. The project is designed to control natural chloride brine emissions as three major source areas to improve water quality for municipal, industrial, and agricultural use. This funding will be used in area VI to implement structural measures to improve the quality of water in the Red River Basin in and above Lake Texoma. Area VI is located on the Elm Fork of the North Fork of the Red River in Harmon County, OK. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Department of Energy, EERE--Biomass and Biorefinery System R&D. Legal Name of Requesting Entity: Oklahoma State University Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA Description of Request: I received $285,450 for the Alternative Crops and Biofuel Production project. This funding will be used to further research the economic feasibility and logistics of processing agriculture commodities and animal fats into biofuel. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus- Account: COPS Law Enforcement Technology Legal Name of Requesting Entity: Beckham County Sheriff's Department Address of Requesting Entity: 108 S. 3rd St, Sayre, Oklahoma, USA Description of Request: I received $500,000 for the Western Oklahoma Law Enforcement Alliance. This request is to purchase and implement a wireless mobile data network in Beckham, Roger Mills, and Washita counties. It will provide for in car computers and other necessary hardware. This project fits within the core mission of the COPS program to acquire and deploy cutting-edge crime-fighting technologies and develop and test innovative policing strategies. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Higher Education (includes FIPSE) Legal Name of Requesting Entity: Western Oklahoma State College Address of Requesting Entity: 2801 North Main Street, Altus, Oklahoma, USA Description of Requesting Entity: I received $190,000 for Western Oklahoma State College for equipment upgrades in nursing skills labs and the radiologic technology labs at the college. This request is specifically for the following equipment; the METI Human Patient Simulator/METI Man, the Laredal SimMan, and the Kodak CR 500 system. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Health Resources and Services Administration (HRSA)--Health Facilities and Services Legal Name of Requesting Entity: Oklahoma State University Center for Health Sciences Address of Requesting Entity: 1111 West 17th Street, Tulsa, Oklahoma, USA Description of Requesting Entity: I received $333,000 for equipment for Oklahoma State Electronic Health Information, Telemedicine, and Distance Learning Network. This request will be used to develop and operate a health information network that includes telemedicine/ distance learning and electronic medical records system to improve access to health care for rural Oklahoma and other medically underserved people throughout the state. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: Health Resources and Services Administration (HRSA)--Health Facilities and Services Legal Name of Requesting Entity: Oklahoma State University Center for Health Sciences Address of Requesting Entity: 1111 West 17th Street, Tulsa, Oklahoma, USA Description of Requesting Entity: I received $285,000 for equipment for a Oklahoma State Mobile Clinic and Medical Response System. The request will be used to construct and operate a a mobile health clinic system that improves access to health care in rural Oklahoma and for deployment in the case of a regional or national disaster requiring medical interventions. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: TCSP--Transportation & Community & System Preservation Legal Name of Requesting Entity: City of Altus Address of Requesting Entity: 300 East Commerce, Altus, Oklahoma, USA Description of Request: I received $427,500 to extend this project from Park Lane to Veterans Drive, which is directly opposite the main entrance to Altus Air Force Base. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: HUD--Economic Development Initiatives (EDI) Legal Name of Requesting Entity: Woodward Industrial Foundation Address of Requesting Entity: 1006 Oklahoma Avenue, Woodward, Oklahoma, USA Description of Request: I received $190,000 for the Woodward Community Campus to construct a campus style, multi-purpose conference center in Woodward, OK. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: HUD--Economic Development Initiatives (EDI) Legal Name of Requesting Entity: City of Piedmont Address of Requesting Entity: 314 Edmond Rd. NW, Piedmont, Oklahoma, USA Description of Request: I received $95,000 for the development of Piedmont's comprehensive Community development planning process. Requesting Member: Congressman Frank D. Lucas Bill Number: FY 2009 Omnibus Account: HUD--Economic Development Initiatives (EDI) Legal Name of Requesting Entity: Redlands Community College Address of Requesting Entity: 1300 S. Country Club Road, El Reno, Oklahoma, USA Description of Request: I received $95,000 for the Darlington Conference Center and Royse Ranch. The request is for renovation, remodeling, and new construction projects at the Darlington Center. It is my understanding that the Oklahoma State Regents for Higher Education have provided $270,000 and will provide a match.

Mr. LUCAS

Mr. LUCAS. Madam Speaker, I submit the following: Title: Earmark Declaration. Requesting Member: Congressman Frank Lucas. Date: September 29, 2008. Pursuant to the Republican Leadership standards on earmarks, I am submitting the following information for publication in the Congressional Record regarding earmarks I received as part of H.R. 2638. Account: Defense-wide, RDT&E. Legal Name of Requesting Entity: Oklahoma State University. Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA. Description of Request: I received an earmark of $1,600,000 for the University Multi-Spectral Laboratory (UML) and Analytical Services Center (ASCENT). This funding will be used to perform testing, integration and commercialization of chemical, biological, radiological, nuclear and explosive (CBRNE) and command, control, communications, computers, intelligence surveillance and reconnaissance (C4ISR) sensor-related technologies. This project is a SOCOM/Oklahoma State University collaboration. It will fuse academic, technical, and tactical assets and provide education and training to facilitate rapid movement of new technical concepts to marketable products via technology transfer. It will further supply a secure facility for sensitive research, as needed. (2) Account: Defense-wide, RDT&E. Legal Name of Requesting Entity: Oklahoma State University. Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA. Description of Request: I received an earmark of $2,000,000 for the Aging Systems Sustainment and Enabling Technologies (ASSET) program. This funding will be used for the ASSET program to develop, test, and transfer cost-effective logistics support technologies to reduce the costs associated with support of aging weapons systems and aircraft. The ASSET program addresses DOD needs for procuring replacement parts for aging systems and aircraft, and helps DOD confront problems associated with corrosion. (3) Account: Defense-wide, RDT&E. Legal Name of Requesting Entity: Oklahoma State University. Address of Requesting Entity: 101 Whitehurst, Stillwater, Oklahoma, USA. Description of Request: I received an earmark of $1,200,000 for the National Repository of Digital Forensic Intelligence (NRDFI) and the Center for Telecommunications and Network Security (CTANS). This funding will be used for CTANS in collaboration with Defense Cyber Crimes Center (DC3) to design and construct a repository for digital forensic intelligence in an effort to increase efficiency and effectiveness of analysts and investigators. This tool has the potential to greatly increase efficiency and effectiveness of analysts and investigators, whether working in foreign intelligence or criminal prosecution.

Mr. LUCAS

Mr. LUCAS. Mr. Speaker, I come before you today to address the majority's so-called energy package. I find the name odd, considering it contains almost no energy provisions. Instead, it serves as political cover, an empty offering to the American people before the November elections. After all, it contains no language to build new nuclear power plants or oil refineries. And while it claims to allow offshore drilling, it actually keeps 88 percent of offshore oil reserves under lock and key. The American people want real action and meaningful solutions that include an increase in American-produced energy. The American Energy Act, on the other hand, will open all of our vast natural resources, allowing oil exploration offshore and in ANWR. It assists in the building of new oil refineries and nuclear power plants, and extends the tax credits to encourage more investment and research into wind and solar energy. This is the all-of-the-above energy solution that the American people have been asking for. I implore my colleagues to listen to the American people. Bring the real energy bill to the floor for a vote.

Mr. LUCAS

Mr. LUCAS. It's irresponsible to adjourn for 5 weeks without passing a meaningful legislation to reduce the skyrocketing gas prices Americans are forced to pay. Now is the time for America to take its place in the forefront of energy development by utilizing the vast natural resources we have in this country. I ask all of my colleagues today, stand up, demand a vote on the American Energy Act. Do something for our folks back home.

Mr. LUCAS. Mr. Speaker, I come to the floor today in support of H.R. 6566, the American Energy Act, an all-of-the-above plan that tackles the current energy crisis we are facing in this country. A well-known Oklahoman has recently alerted us to the fact that we spend $700 billion a year on foreign oil. That is $700 billion. That number is staggering and should be enough for any American to sit up and take notice and know that something has to change. The American Energy Act paves the way to decrease our reliance on foreign oil by increasing the production of American-made energy. It not only allows for oil exploration both in the Arctic coastal plain and offshore, a move that 73 percent of Americans support, according to the latest CNN poll. It also eliminates the obstacle to the construction of new oil refineries and nuclear power plants. Now, we all know that increased production of traditional forms of energy, such as oil and natural gas, is only the first step. The American Energy Act also addresses the future of American-made energy by promoting research and development of renewable and alternative energy sources. One of the best components of this bill is the permanent extension of the tax credit for alternative energy production. Oklahoma is the ninth largest producer of wind energy, and we look forward to continued growth in that industry. I know that extending the production tax credit on wind energy will send the right message to wind producers that the American government is ready to work with them to expand upon this already successful alternative energy source. The Speaker recently was quoted as saying that her refusal to bring legislation aimed at increasing American energy to the floor for a vote was an effort to ``save the planet.'' While I appreciate the gentlewoman from California's feelings that she has a moral obligation to promote conservation, what about her obligation to the American people, living here and now, who are forced to choose between driving to work and putting food on the dinner table?