Mitch McConnell

Mr. McCONNELL

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 President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. McCONNELL. Mr. President, I send a modification to amendment No. 2151 to the desk.

Mr. McCONNELL. Mr. President, I send a cloture motion to the desk for amendment No. 2151, as modified.

Mr. McCONNELL. Mr. President, I send a cloture motion to the desk for the bill.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that the mandatory quorum calls for the cloture motions be waived.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I move to proceed to executive session to consider Calendar No. 598, Kevin McAleenan.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate resume legislative session for a period of morning business, with Senators permitted to speak therein for up to 10 minutes each.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that when the Senate completes its business today, it adjourn until 4 p.m., Monday, March 12; further, that following the prayer and pledge, the morning hour be deemed expired, the Journal of proceedings be approved to date, the time for the two leaders be reserved for their use later in the day, and morning business be closed. I further ask that following leader remarks, the Senate resume consideration of S. 2155, and notwithstanding the provisions of rule XXII, the filing deadlines with respect to the cloture motions filed during today's session be Monday at 4:30 p.m. for first-degree amendments and 5:30 p.m. for second- degree amendments; finally, that notwithstanding the provisions of rule XXII, the cloture motions filed during today's session ripen at 5:30 p.m. on Monday.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, if there is no further business to come before the Senate, I ask unanimous consent that it stand adjourned under the previous order.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Committee on Agriculture, Nutrition, and Forestry be discharged from further consideration of H.R. 1177 and the Senate proceed to its immediate consideration.

Mr. McCONNELL. Mr. President, I further ask unanimous consent that the bill be considered read a third time and passed and the motion to reconsider be considered made and laid upon the table with no intervening action or debate.

Mr. McCONNELL

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

Mr. McCONNELL

Mr. McCONNELL. Mr. President, community banks, credit unions, and other small-scale lenders play a vital role in the U.S. economy. Research from Harvard indicates that community banks provide more than half of all small business loans. Let me repeat that. A majority of small business loans is handled by community banks. This is even more pronounced in rural areas and farming communities, like those I represent in Kentucky. A whopping 77 percent of agricultural loans come from community banks--77 percent. In this era of online banking and multinational corporations, smaller institutions remain uniquely able to build community connections. Community bankers get to know their residents and business owners on a personal level. That perspective lets them extend credit to small-scale entrepreneurs, farmers, ranchers, and other Americans who might not have access otherwise. So when small lenders close their doors, the effects on communities are very real. In 2014, an economist at MIT found that, on average, the closing of a single bank cut the number of new small business loans in the immediate area by more than 10 percent for several years. The problem was extremely pronounced in low-income areas, where a local perspective and personal relationships matter even more. In low-income America, a physical bank closure cuts lending to local small businesses by nearly 40 percent. Long story short, the more vulnerable a community, the more they need local lenders, but since the Federal Government implemented massive new regulations under the 2010 Dodd-Frank Act, our community banks and credit unions have been getting squeezed. Dodd-Frank's imprecise, inefficient, one-size-fits-all framework dropped these small institutions into the regulatory maze that was intended for Wall Street. For 8 years, they have faced a staggering compliance burden that now consumes, on average, 24 percent of their net income. This has forced many to pare down their offerings or close their doors for good. That leaves out to dry would-be entrepreneurs, job creators, and existing small businesses that want to expand. Fortunately, we have an opportunity this week to begin putting things right. Today, the Senate continues considering a sensible solution that would streamline regulations and give smaller lenders a fighting chance. Senator Crapo's Economic Growth, Regulatory Relief, and Consumer Protection Act is the product of thorough committee work. It is an important step toward unwinding the harm caused by the Obama administration's knee-jerk reaction to the 2008 financial crisis. Importantly, this bill has strong bipartisan support. On both sides of the aisle, Members with a diversity of views on Dodd-Frank itself have recognized that this set of commonsense fixes deserves all of our support. I encourage all Senators to join them. Tax Reform Mr. President, on another matter, just 2 months in, the effects of tax reform are percolating through every corner of our economy. It has made bonuses, raises, and benefits for working families daily news in communities all across our country. Thanks to tax reform, automakers are planting deeper roots in America. Innovators like Apple are bringing billions back to invest here at home. Retailers, from corner stores to national chains, are rewarding their hard-working teams. There is another sector in which the benefits of tax reform are flowing freely--America's growing craft beverage industry. That is because the new 21st-century Tax Code included a provision known as the Craft Beverage Modernization and Tax Reform Act, spearheaded by Senator Portman and Senator Blunt. Among other achievements, that piece of tax reform significantly cut the excise taxes the Federal Government imposes on beer, wine, and spirits. This was originally a bipartisan bill, with early support from my friend, the senior Senator from Oregon. It is too bad he and every other Democrat in Congress ended up voting against this historic tax reform that included that measure, because it is proving to be good news for a host of American small businesses, including the fine distilleries that contribute thousands of jobs and tourism in Kentucky. One recent wave of headlines has detailed how tax reform is helping entrepreneurs in the craft brewing industry as well. Across the country, job creators in this popular and growing line of business are making big plans for their savings under this new 21st-century Tax Code. Matt Matthiesen, a brewery owner in West Okoboji, IA, said: ``I am very excited. . . . As a small local business, those breaks help us tremendously.'' Donn Martens, who owns another brewery just down the road, said: ``We hope to expand with this money. We would like to double our production.'' Remember Matt and Donn when my colleagues across the aisle tell you tax reform is only helping the big guys. Together, their two businesses employ 15 people. They expect tax reform will save them about $15,000 this year. Just try telling any small business owner that is no big deal. Larry Horwitz owns Four String Brewing Company in Columbus, OH. He expects tax reform will save his business $40,000 this year. ``We invest where we live and work,'' he said. ``We are the blue collar workers in the neighborhood.'' In Kentucky, tax reform has a number of craft breweries excited about the year ahead. At Country Boy Brewing in Georgetown, production manager Daniel Sinkhorn says the new law is helping them plan a new canning line, which will ``add jobs, add equipment . . . and keep Country Boy growing.'' It has been reported that later today my friends across the aisle will unveil a $1 trillion spending plan and propose repealing tax reform to pay for it. Repeal all these bonuses, pay raises, new jobs, and new investments? Talk about a nonstarter. At the same time, Vice President Pence will be in Central Kentucky today to hear from small business owners and community leaders about how tax reform is helping them. Daniel Harrison, the cofounder of Country Boy Brewing, will be on hand to meet with the Vice President. I am glad he will be able to share how his business, like so many around the country, is tapping into tax reform savings. I suggest the absence of a quorum.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I call up the Crapo substitute amendment No. 2151.

Mr. McCONNELL. I ask unanimous consent that the reading of the amendment be dispensed with.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate proceed to the en bloc consideration of the following nominations: Executive Calendar Nos. 695, 696, 716, 717, 718, and 719.

Mr. McCONNELL. I ask unanimous consent that the Senate vote on the nominations en bloc with no intervening action or debate; that if confirmed, the motions to reconsider be considered made and laid upon the table en bloc; that the President be immediately notified of the Senate's action; that no further motions be in order; that any statements relating to the nominations be printed in the Record; and that the Senate then resume legislative session.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate proceed to executive session for the en bloc consideration of the following nominations: Executive Calendar Nos. 688 and 689.

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate vote on the nominations en bloc with no intervening action or debate; that if confirmed, the motions to reconsider be considered made and laid upon the table en bloc; that the President be immediately notified of the Senate's action; that no further motions be in order; and that any statements relating to the nominations be printed in the Record.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate be in a period of morning business, with Senators permitted to speak therein for up to 10 minutes each.

Mr. McCONNELL

Mr. McCONNELL. I ask unanimous consent that the resolution be agreed to, the preamble be agreed to, and the motions to reconsider be considered made and laid upon the table with no intervening action or debate.

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate proceed to the consideration of S. Res. 425, submitted earlier today.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of the following calendar bills en bloc: Calendar Nos. 313 through 334.

Mr. McCONNELL. Mr. President, I ask unanimous consent that the committee-reported amendment, where applicable, be agreed to, and the bills, as amended, if amended, be considered read a third time en bloc.

Mr. McCONNELL

Mr. McCONNELL. Mr. President, I know of no further debate on the bills en bloc.