Blaine Luetkemeyer

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor the U.S. Chess Team for its historic victory in the 42nd Chess Olympiad held in Baku, Azerbaijan, this past September. The last time the United States won this competition was 40 years ago at the 1976 Chess Olympiad in Haifa, Israel. At that time, the gold medal was determined by the outcome of a single game that lasted 14 hours and contained 111 moves, and eventually ended in our favor. The final round in Baku was even more strategic, with the gold medal determined by a brilliant final move. The game was close, but the United States Chess Team took home the gold once again. Today I would like to honor the six members of the winning chess team as well as their coach. This was a great accomplishment for the United States. I am honored to have the opportunity in Congress to recognize them. For the next 2 years, the Olympiad trophy will rest and be on display at the World Chess Hall of Fame in St. Louis, Missouri. I look forward to recognizing the team's accomplishments in my home State.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor a constituent of mine, Mrs. Susan K. Wright, who will be retiring on May 17, 2017 after 40 years teaching biology and coaching track and field at Wright City High School. Mrs. Wright was influenced by several teachers throughout her childhood that positively affected her decision to dedicate her life to educating America's youth. For example, her 1st grade teacher taught her the importance of caring, her high school biology teacher introduced her to an interest in the sciences, and a college professor showed her that everyone can become great even without being the best. The enthusiasm Mrs. Wright has shown over the past four decades has been appreciated by her colleagues and students. She has truly made the classroom and track field a fun learning environment. While growing up in St. Louis County, Mrs. Wright attended Webster Groves High School. After spending her youth in such a big district, she was instilled with the desire to spend her teaching years in a smaller school. After receiving her bachelor's degree in education from Missouri State University, she began her teaching career at Wright City High School. Mrs. Wright started the track and field program at Wright City High School and the track now bears her name. Throughout the years, she has been a motivational mentor to numerous students and has always been willing to give a few extra moments to those who might need a listening ear. Mrs. Wright is involved with the National Science Teachers Association and is active in her local community. She is passionate about volunteering and teaching her students to have that same giving spirit. Mrs. Wright has contributed many hours to the Blue and Gold Scholarship Dinner, the Christmas celebration Strassenbash, and the local Easter egg hunt. The love Mrs. Wright has for teaching and coaching has never waned over the years. As Mrs. Wright puts it, ``to be a great teacher is to know your subject matter and be willing to grow as education grows, to care about those that you work with and especially the students you teach, to set your goals high and work diligently to reach each goal.'' Her understanding, passion and mentality are something that all teachers should strive to attain. I ask you to join me in recognizing Mrs. Susan Wright on her retirement after 40 years of improving the lives of all who walk the halls at Wright City High School.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I thank the gentleman for yielding me this time. I also want to thank the distinguished gentleman from Illinois (Mr. Hultgren) for his work on this legislation and, more broadly, issues surrounding American entrepreneurship. He has been a tireless advocate. Mr. Speaker, over the last 2 weeks, the Subcommittee on Financial Institutions and Consumer Credit, which I chair, has held hearings to examine the impact regulations have had on financial institutions, small businesses, and American consumers. What we have seen is that the burdens stemming from Dodd-Frank and associated Obama era policies continue to harm consumers and small businesses. We have what some have referred to as a two-speed economy. Large banks and their large customers are thriving, but the story isn't as bright for small businesses. That is why H.R. 1343 is so important. Small businesses and startups don't necessarily have the same opportunities to access the capital markets as their larger competitors, but from a regulatory standpoint, the small guys are treated the same as the big guys. Mr. Hultgren's legislation takes an important step in addressing some of the disparities that exist. H.R. 1343 will allow small businesses to attract and retain employees through incentives similar to those that may be offered by large businesses. Unlike the gentleman who just got done speaking, this is not about Enrons. It is about small businesses that we are talking about. It will also ease some of the reporting burden on small and emerging businesses. The bill does so simply by increasing the SEC rule 701 threshold, taking the existing rule and simply expanding it, a figure that hasn't been touched since 1999. It is essential that Washington take steps to level the playing field for small businesses and eliminate this two-speed economy. The bill the House will consider today is another step toward job creation and a more reasonable regulatory environment. I again want to thank and commend Mr. Hultgren for his leadership and ask that my colleagues join me in supporting H.R. 1343.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to ask my colleagues to join me in congratulating Kyle Dickhaus of the Eureka High School Wildcats on winning the Class 4 Wrestling State Championship in the 182 pound weight class. Kyle and his coach should be commended for all of their hard work throughout this past year and for bringing home the state championship to their school and community. I ask you to join me in recognizing Kyle Dickhaus for a job well done.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor a church in my district, First Assembly of God in Sullivan, Missouri, on its 100th anniversary. It will be observing this milestone on October 8, 2017. First Assembly of God was founded on June 4, 1917 by Reverend R.O. Miller with 42 charter members. The church is known for its long- standing history of providing Christian services in the community. Its first building was dedicated on March 18, 1923 which served the congregation until its relocation on September 14, 1969 to its current home on Elmont Road. The mission statement of First Assembly of God is to ``Exalt the Lord through worship, Equip the saints through discipleship, Evangelize the lost through outreach and missions, Embrace each other through fellowship, and Encourage the hurting through ministry.'' Throughout the past 100 years this mission statement has been the foundation on which the church stands and shares the love of God with those in the community. There are various programs offered at First Assembly of God for children, men, and women of all ages. Christian enrichment classes that are offered include Sunday School, Nursery, Kingdom Kids, Girls Club, Royal Rangers, Jr. High, Anchor 5.8, Anchor Youth, Late Night, and Women's/Men's Ministry. Reverend Kyle Phillips currently serves as the Senior Pastor at First Assembly of God. He has served in this capacity for 10 years. Pastor Phillips serves the church alongside Youth Pastors Reverends Michael and Anna Maschmeyer, Children's Director Cascha Phillips, Executive Assistant and Treasurer Kay and Larry Cunieo, and Maintenance Director Robert Davis. I ask you to join me in recognizing First Assembly of God Church on its 100th anniversary. The commitment this church has shown to the Lord, its parishioners, and the entire community is acknowledged by this milestone anniversary.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to ask my colleagues to join me in congratulating Ryan Herman of the St. Clair High School Bulldogs on winning the Class 2 Wrestling State Championship in the 145 pound weight class. Ryan and his coach should be commended for all of their hard work throughout this past year and for bringing home the state championship to their school and community. I ask you to join me in recognizing Ryan Herman for a job well done.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to ask my colleagues to join me in congratulating Jacob Warren of the Windsor High School Owls on winning the Class 3 Wrestling State Championship in the 145 pound weight class. Jacob and his coach should be commended for all of their hard work throughout this past year and for bringing home the state championship to their school and community. I ask you to join me in recognizing Jacob Warren for a job well done.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to ask my colleagues to join me in congratulating Alec Hagan of the Eureka High School Wildcats on winning the Class 4 Wrestling State Championship in the 152 pound weight class. Alec and his coach should be commended for all of their hard work throughout this past year and for bringing home the state championship to their school and community. I ask you to join me in recognizing Alec Hagan for a job well done.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to ask my colleagues to join me in congratulating Cameron Rudy of the Fort Zumwalt South High School Bulldogs on winning the Class 3 Wrestling State Championship in the 126 pound weight class. Cameron and his coach should be commended for all of their hard work throughout this past year and for bringing home the state championship to their school and community. I ask you to join me in recognizing Cameron Rudy for a job well done.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor Dr. Alois Kertz on receiving the Missouri Dairy Hall of Honors' Meritorious Service Award. Dr. Alois Kertz was born and raised in Bloomsdale, Missouri as one of six children to Andrew and Mathilda Kertz. He became passionate about the dairy industry through his time growing up on the family dairy farm. Dr. Kertz would go on to graduate from the University of Missouri with a bachelor's degree in Dairy Husbandry in 1967 and a master's degree in Dairy Cattle Nutrition in 1968. He then earned a Ph.D. in Animal Nutrition from Cornell University in 1973. Between earning his master's degree and his Ph.D, Dr. Kertz faithfully served in the United States Army as a Nutrition Research Officer in Natick, Massachusetts and then as a Platoon Leader/Food Supply Manager in Thailand during the Vietnam War. He earned the Army Commendation Medal for Meritorious Service in 1969 through 1970 for his dedicated service to our country. From 1973 to 1975, Dr. Kertz was employed as a dairy nutritionist at Ralston Purina Company. He then worked for Purina Mills as the manager of dairy and ruminant research from 1975 until 1991, at which point, Dr. Kertz became the director of dairy applied research, nutritional consulting program, and technical services at Purina Mills. Dr. Kertz founded ANDHIL, LLC in 2001 as a tribute to his father's dairy herd through which, Dr. Kertz advises clientele from a variety of private companies, agencies, research institutions, dairy organizations, and publications. Throughout the years, Dr. Kertz has also traveled the world to places like Spain, Italy, South Korea, and Brazil to serve as an on-farm consultant and trainer. In the process of those travels he has become a world renowned leader and researcher in the dairy industry. Dr. Kertz's work has been published in over thirty scientific journal articles. Additionally, he has written numerous articles and has presented to dairy producer groups here in the United States and around the world. He is an active member of the American Dairy Science Association, American Society of Animal Science, American Association for the Advancement of Science, American Society for Nutrition, Dairy Calf and Heifer Association, the American Registry of Professional Animal Scientists, and serves as a charter member/diplomat of the American College of Animal Nutrition. Recently, Dr. Kertz's expertise has been utilized by the Masaka Diocese in Uganda to start a dairy cow program that is designed to help families in their community get out of poverty. Dr. Kertz's lovely wife Molly and their four children, Julia, Emily, Nicholas, and Mary are thrilled that his years of hard work are being rewarded with this well-deserved honor. Dr. Kertz has always been known as an incredibly faithful, patient, and generous man. He is a devout Christian and active in the St. Vincent de Paul Society and Mary Queen of Peace Parish in Webster Groves, Missouri. I ask you to join me in recognizing Dr. Alois Kertz on this well- deserved award that honors his lifetime of service to the dairy industry.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor a constituent of mine, Police Officer Michael Joyce, Jr. on his retirement after 27 years of service to the Union Police Department on January 4, 2017. Officer Joyce joined the Union Police Department in June 1989. He became a full-time officer by December of that year and was promoted to sergeant less than three years later. During his years on the force, Officer Joyce served as a field training officer, supervisor, bailiff, and City Hall security officer. Additionally, he has fulfilled a myriad of capacities including zoning enforcement, evidence cataloguing/ transport, video documentation, neighborhood watch, and scheduling among others. The knowledge and experience that Officer Joyce brought to the police force and the community was an invaluable asset. Officer Joyce is known as a man of faith, integrity, compassion, and humor. As an active member of his community he has volunteered many hours to various organizations. He has served on the board of directors with the Franklin County Children and Families Community Resource Board, participated in Shop with a Cop, raised thousands of dollars for the Kops and Kids Canned Food Drive, and volunteered at Missouri Child Identification and Protection Program events. Officer Joyce also serves as an elder at Trinity Presbyterian Church. Throughout his life Officer Joyce has served as a role model and mentor to many, especially through his involvement with local schools, organizations, and clubs. The Crisis Intervention Team (CIT) training program was created in part through Office Joyce's hard work. This program equips first responders with the necessary training to assist individuals that are dealing with mental health crises. Officer Joyce served as one of his department's first CIT officers and also held the position of Franklin County CIT Council Co-Chairman and CIT Training Chairman. With this retirement Officer Joyce will now be able to spend more time with his lovely wife of 42 years, Jennifer. He will also enjoy more time with his children Hannah, Ethan, Noah, Warren, Faith, Connor, Moriah, and Naomi, as well as his nine grandchildren. As police officers and their families know, the most notable and award-worthy actions are often unseen by the general public and will never be awarded by anyone but God. Officer Joyce truly exemplifies the scripture that states, ``Blessed are the peacemakers, for they shall be called sons of God.'' (Matthew 5:9) I ask you to join me in recognizing Officer Michael Joyce, Number 731, on his retirement. The commitment he has shown to the Union Police Department and to his community for 27 years is a commendable accomplishment.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor the COMM-Unity Ambulance. This volunteer ambulance service will be celebrating 30 years of service on March 18, 2017. On April 27, 1987, COMM-Unity Ambulance began meeting the needs of residents of Cole, Osage, Miller, and Maries counties. This non-profit organization was originally dispatched from the Saint Elizabeth Care Center with a team of four nurses, four EMT's, and dedicated first responders who were committed to serving their community. The Meta Fire Department housed this organization prior to the completion of its building on May 19, 1988. By October 9, 1989, the volunteer ambulance service had grown to 16 EMT's, four nurses, and 19 first responders. In 1994, a necessary expansion to the building was completed and included a second ambulance bay, meeting/training room, and office. I ask you to join me in recognizing the COMM-Unity Ambulance and their 30 years of dedicated service to the communities of Cole, Osage, Miller, and Maries counties. The commitment they have shown to the individuals in the counties they serve is a commendable accomplishment.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor constituents of mine, Mr. and Mrs. Bradley and Katherine Morrow, on the birth of their son, Finnegan Fox Morrow. Bradley and Katherine are residents of Jefferson City, Missouri and welcome their new son into their family along with older brother Bennett. Bradley and Katherine were married on September 15, 2012 and Finnegan was born on September 14, 2016, which made for a wonderful 4th wedding anniversary present. Bradley works for Division of Professional Registration with the State of Missouri and Katherine is a marketing designer for a Jefferson City magazine. Many family members have been excited to welcome Finnegan, including maternal grandparents Milton and Cherie Barr, paternal grandparents Sally, Michael and Elizabeth Morrow, and paternal great-grandparent Joseph Morrow. I ask you to join me in congratulating the Morrow family on this new addition to their family.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor a constituent of mine, Mr. Chester Zawadski, who celebrated his 80th birthday in November 2016. His family is looking forward to celebrating this momentous occasion with him in February of this year. Mr. Zawadski bravely served our nation in the Army during the Korean War. His years of service included time at Ft. Leonard Wood, Missouri and also in Germany. Hammond, Indiana is where Mr. Zawadski was born and raised. He and his wife Beverly lived in Indiana until his retirement from serving as a Lake County Probation Officer in 2009. At the time of his retirement Mr. and Mrs. Zawadski moved to Pacific, Missouri to live closer to their grandchildren. Chester and Beverly were married for 40 years until her passing. Throughout his life Mr. Zawadski has enjoyed staying up to date on current political events, spending time with his grandchildren, raising chickens and reading. He has also been involved with Toastmasters and the Knights of Columbus. I ask you to join me in recognizing Mr. Chester Zawadski on the celebration of his 80th birthday.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor constituents of mine, Mr. and Mrs. Bradley and Katherine Morrow, on the birth of their son, Finnegan Fox Morrow. Bradley and Katherine are residents of Jefferson City, Missouri and welcome their new son into their family along with older brother Bennett. Bradley and Katherine were married on September 15, 2012 and Finnegan was born on September 15, 2016, which made for a wonderful 4th wedding anniversary present. Bradley works for Division of Professional Registration with the State of Missouri and Katherine is a marketing designer for a Jefferson City magazine. Many family members have been excited to welcome Finnegan, including maternal grandparents Milton and Cherie Barr, paternal grandparents Sally, Michael and Elizabeth Morrow, and paternal great-grandparent Joseph Morrow. I ask you to join me in congratulating the Morrow family on this new addition to their family.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor a constituent of mine, Mr. Stephen B. Hoven, on his retirement from SSM Health as the Vice President of Public Affairs following 19 years of service. In August 1997, Mr. Hoven joined SSM Health, founded by the Franciscan Sisters of St. Mary, as the Vice President of Public Affairs. In this position Mr. Hoven provided leadership in multiple external markets. He has also collaborated with public policy leaders in municipal affairs, and local, state and federal governments which have positively benefitted SSM Health. Additionally, Mr. Hoven has coordinated civic and community events throughout Missouri. Mr. Hoven has helped further SSM Health's vision and mission throughout the communities they serve during his 19 years of service. The passion Mr. Hoven has shown for his job, the people who work at SSM, those they serve and his country has been a true asset to SSM. Mr. Hoven began his career in public affairs in 1982 as the Manager of Public Affairs for Ozark Air Lines in St. Louis during which time he oversaw the coordination of state legislation in 25 states. Additionally, as Manager of Public Affairs, he managed civic affairs for 65 cities and handled the corporate charitable program. In 1986 he moved to the St. Louis Regional Commerce and Growth Association. From 1986 to 1990 he was the Administrative Assistant to the president of that association. Then from 1990 to 1994 he was Vice President of Government Affairs and Transportation. In 1994 Mr. Hoven stepped into the role of Senior Vice President and Chief Operating Officer of a 4,000 member chamber of commerce. This chamber of commerce was committed to increasing their regional cooperation and also expanding their economic growth opportunities in the St. Louis region. Mr. Hoven has volunteered many hours throughout his professional career to numerous civic and charitable organizations, including the boards of the Museum of Transportation, the Japan-American Society, the American Cancer Society, the Leadership Council of Southwestern Illinois, the Boys and Girls Town of Missouri, the Associated Industries of Missouri, the St. Louis Sports Commission and the St. Louis Regional Commerce and Growth Association's Public Policy Council. Each one of these groups has been positively impacted by Mr. Hoven's service. With this retirement Mr. Hoven will now be able to spend more time with his wife Jill, and they look forward to spending more time with their beloved dogs. Mr. and Mrs. Hoven are planning to live part of the year in Colorado and will be RV traveling as well, but will still be a regular presence in their Warren County home in Missouri's 3rd District. I ask you in joining me in recognizing Mr. Steve Hoven on his retirement. The commitment he has shown to the SSM Health and his community is a commendable accomplishment.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I rise today to honor a constituent of mine, Mrs. Ramona Bax on her retirement after 50 years of employment with the Bank of St. Elizabeth. Mrs. Bax has been a constant friendly face during her years working at the bank. The patrons, management, and her co-workers will miss her welcoming personality at the bank. Mrs. Bax has been a lifelong resident of the St. Elizabeth community and is thankful for the opportunity to live and work in such a great town. As a fellow resident of St. Elizabeth, we are also thankful to have her as a friend, neighbor, and member of our community. In her spare time, Mrs. Bax volunteered her time at the St. Elizabeth school during the years her children attended and also while her grandchildren attend the school. She is also an active member of St. Lawrence Catholic Church. The entire community has benefited from her volunteering spirit. Mrs. Bax has been married to her husband, Richard, for 56 years. They have four children, John, Charles, Glenn, and Stacy, and are the proud grandparents of ten grandchildren and great-grandparents of three great-grandchildren. With her retirement, Mrs. Bax will be able to enjoy more time with her wonderful family. I ask you to join me in recognizing Mrs. Ramona Bax on her retirement. The commitment she has shown to the Bank of St. Elizabeth for 50 years is a commendable accomplishment. It is an honor to represent her in the United States Congress.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Chairman, today I rise in strong support of the bill on the floor before us, the Regulatory Accountability Act of 2017. Over the last 8 years, it has been clear that our country has been on the wrong path. Through overregulation and government bureaucracy, the chance at the American Dream has seemed to be slipping away and unreachable for far too many Americans. In November, the American people spoke and made it clear: it is time to change course and reform the rulemaking process to energize robust growth in the American economy. To do so, we not only need to address the number of Federal regulations, but also their convoluted and complex nature. Our constituents should not need a law degree or an army of consultants and accountants to understand the rules they are required to follow. Nevertheless, given their technical language, it can be extremely difficult to fully understand proposals unless one is an expert in that field. Title VI of H.R. 5 includes language from a bill that I introduced earlier in this Congress. My bill, the Providing Accountability Through Transparency Act, would require each Federal agency, when providing notice of a proposed rulemaking, to produce a 100-word, plain-language summary of the proposal and make it publicly available online. This commonsense reform would give the American people straightforward and uncomplicated access to the rules proposed by the executive branch. The American people deserve to be informed about the rules and regulations being proposed by their government, and I am honored to have my legislation included in this regulation-curbing package. I thank Chairman Goodlatte for his leadership on H.R. 5, as well as my colleagues who joined me in contributing language to this critical legislation.

Mr. LUETKEMEYER

Mr. LUETKEMEYER. Mr. Speaker, I yield myself the balance of my time. Just to recap what we are doing here: We have a bill in front of us here that is basically trying to give leverage to Team USA, which are the representatives from the United States, one of which was created by Dodd-Frank, to represent the United States insurance industry at the negotiating table with regards to the International Association of Insurance Supervisors. Now, this is a group of people from around the world that regulate insurance companies in each of these other countries. Now, these regulators have a different set of rules and regulations and a different purpose from the standpoint that they regulate insurance at the national level in each one of these countries, where we in this country regulate insurance at the State level. When the IAIS tries to promulgate rules and regulations, it is like trying to put a square peg in a round hole when they try and put those rules and regulations on our companies here. As a result, this bill is to try and give leverage to our negotiations so that doesn't happen and so they can protect our industry. In fact, the negotiators want this bill because they need that leverage to be able to go and say no to some of the standards that are being proposed so that they can protect our industry. Now, I will give you a quick example. In my own State, we have a company that provides reinsurance in one of the countries in Europe. That country right now is trying to impose some new standards on that company to be able to do business there. We need to have the regulators be able to go to the IAIS and say: Look, this is not working. You cannot impact and undermine our own companies in this country with these rules that do not work. They need to be on a level playing field with everybody else. So this is a way that we can protect our companies and our industries and our consumers from this regulation that is basically out of control sometimes. Mr. Huizenga made a great point. He said: Why would we allow unelected foreign regulators to tell our industry what to do? That is what we have got. We have got a group of bureaucrats from around the world who are trying to tell our companies, our insurance industry--it isn't one company; it is everybody in this country--what to do. They are not elected, but we are in this Congress. Shouldn't we put the people's representatives in charge of this? Mr. Pearce made that comment. These regulations need to be decided by the people's representatives. That is us. That is what this bill does. It puts us in charge of saying yes or no to whatever agreements are done over there. Mr. Barr made the comment that we need to protect the insurance model of our industry. And that is what this does. We in the Congress can look and see if these rules and regulations will protect the industry. It doesn't mean we throw them all out either. The underlying principle of everything that the minority ranking member is talking about here is that we are going to throw out every regulation that is being proposed. No, this is not the case. What we want to do is make sure the ones that are being proposed are okay and will not negatively impact our industry. The ones that are going to be helpful, we will support those. We will let them go through. That is up to Congress. We should be in charge of those decisions, not somebody else around this world. Mr. Williams made a good point. He said this is kind of like a trade agreement. We approve all the trade agreements over in the other body, if I am not mistaken. Should we approve an agreement like this where we are going to impact an entire industry? I think so, Mr. Speaker. Let me just move on to a couple of points that were made by a couple of folks during the discussion on the other side. They talked about the pay-for in the bill. The pay-for in the bill actually comes from a slush fund of the SEC, which is overfunded at this point and that they are going to use less than 20 percent of that money this year. It is well paid for. It is well within the reason of being able to afford this, and it is not going to impact that regulator at all. So I think we are in great shape. Somebody made the comment that the Fed does have the authority to make these rules. No, they don't. They don't have authority to make a rule across the board on all insurance companies in this country. That is not a true statement. The statement was also made about the G-SIFIs and systemic institutions. This bill doesn't do anything to address G-SIFI designation. This bill is about protecting the IAIS, which is a supervisory body. It is not the Federal Stability Board. It is not the international board that decides all of these G-SIFI designations. This is the board that oversees the regulatory structure of insurance companies. Somebody said it has constitutional concerns. If it has constitutional concerns, then you have just told me that Dodd-Frank is unconstitutional. That is all we are doing is dealing with what has gone on in Dodd-Frank when setting up the FIO office to try and give them the leverage and power they need to do something. It is interesting because the ranking member last week was railing on a bill that we had on the floor about transparency and oversight of regulators. You know what? We listened to her. This bill today does that very thing. It adds to transparency, and we are providing oversight for the regulators. I would think she would be excited about this legislation and be willing to support it. One other comment, Mr. Speaker, and I will close. The ranking member keeps throwing AIG at us. That is a red-herring from the standpoint that AIG is made up of two separate entities: one is an insurance company; one is the securities and investment company. The company that was in trouble was the securities and investment part. The insurance company stayed solid and solvent. That is not the one that was bailed out. So, again, the point was made by one of my colleagues--Mr. Duffy, I believe it was--that in 2008 our system worked. And he is correct; it did work. Our insurance industry in this country withstood one of the largest and most devastating recessions in history since the Great Depression, and it came out of it with very little negative problems that could impact the quality of insurance being provided for our citizens. So, Mr. Speaker, let me just close by saying this bill does what we would hope that every bill would do in this Congress, and that is that it gives leverage to people who can do good to protect our industries and our people, our way of life and our economy. Mr. Speaker, I yield back the balance of my time.

Mr. LUETKEMEYER. Mr. Speaker, I believe this is my last speaker. Last but not least, I yield 2 minutes to the distinguished gentleman from Texas (Mr. Williams), an entrepreneur who understands the importance of our free enterprise system and how important it is for the insurance industry to be able to protect those interests of the free enterprise folks.

Mr. LUETKEMEYER. Mr. Speaker, I yield 2 minutes to the gentlewoman from Missouri (Mrs. Wagner).

Mr. LUETKEMEYER. Mr. Speaker, may I inquire as to how much time is remaining on each side?

Mr. LUETKEMEYER. Mr. Speaker, I yield 2\1/2\ minutes to the gentleman from Kentucky (Mr. Barr).

Mr. LUETKEMEYER. Mr. Speaker, I yield 2 minutes to the gentleman from Wisconsin (Mr. Duffy), who is chairman of the Oversight and Investigations Subcommittee.

Mr. LUETKEMEYER. Mr. Speaker, I yield 2 minutes to the gentleman from New Mexico (Mr. Pearce).