Bob Menendez

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Chairman, will the gentleman yield?

Mr. MENENDEZ. No, at this point, the gentleman has more time than I do.

Mr. MENENDEZ. I thank the gentleman for yielding. Just two points. As I understand it, $10 million of this goes to COLA, and the rest gets out of Federal enforcement. So to say Federal enforcement is in fact increased is not the reality. Federal enforcement is not increased.

Mr. MENENDEZ. Mr. Chairman, I yield myself 10 seconds simply to say that all the EPA COLA does is take those employees and give them an increase. It does not increase the manpower at EPA to do something about the environment. It takes the environmental cop off the beat. Mr. Chairman, I yield 2 minutes to the gentlewoman from California (Ms. Millender-McDonald).

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Chairman, I have heard the voices of those who think Fidel Castro is a great guy; and I have heard the voices of those who want to do business in Cuba at any price, regardless what that price is. Americans love to travel, but they love democracy and human rights, and they love that more than anything else because they enjoy it more than any other country in the world. The belief that Americans can change Castro through tourism flies in the face of millions of visitors from Canada, Mexico, Spain, Europe, Latin America and other parts of the world who over the last decade have visited Cuba and have not had one iota of change towards democracy and human rights. We are a great people, but to believe that we uniquely possess the one key that can unlock, the changing of the mind of Fidel Castro, is to be incredulous. What this amendment would do if adopted, it would take a law and let it lawlessly be violated because we would have no enforcement funds to prosecute that law. If you do not believe that the law is legit, change the law. But do not act lawlessly by saying we will not enforce a law that exists on the books. Mr. Chairman, it will open the floodgate of dollars to Fidel Castro's Cuba. If the American people knew that 60 percent of Cuba's GDP goes to a tourism industry that is a state-run operation, a tourism industry by which Fidel Castro owns 50 percent of all of the foreign hotels and all of the Dollar Stores, which are inflated, to gouge tourists who go, they would say no, I will not visit there. If, in fact, they knew that tourism does not go on behalf of the Cuban people but goes on behalf of the state, they would not go there. If they knew when they visit those hotels and tourist spots that the workers there cannot be hired directly by that foreign company, but is hired by the state employment agency sent there for which the state employment agency is paid in dollars, and Cubans are paid in worthless pesos, which is the equivalent of slave labor, to those of my colleagues who believe in the trade labor movement and labor rights, they must vote for the Smith amendment and against the Flake amendment. For those who believe that, in fact, opening up the flood gates, as is suggested, and I do have great faith in Americans, but what happens when they go to Cuba, suggestions that tourism will facilitate visitation and engagement with human rights activists, political dissidents and independent journalists should be dispelled by the fact that Cuban law makes it a crime against the state to engage human rights activists and political dissidents. And believe me, that law is enforced. Ask the two Czech citizens, one a parliamentarian and the other a journalist, who traveled to Cuba as tourists and were engaged with human rights activists, and were imprisoned. Mr. Chairman, sunning one's self on the sand and surf on Varadero Beach, taking in a show at the Tropicana, smoking a Cohiba and sipping a Cuba Libre may indulge the fantasies of some, but it will not bring democracy to the Cuban people, it will not bring freedom to the Cuban people, and it will not bring respect for the human rights for those people in Cuba.

Mr. MENENDEZ. Mr. Chairman, I listened to my colleagues, and it is interesting, when we talk about Cuba, the word ``emotions'' always slips in; but I hear my colleagues come to this floor on other parts of the world, on questions of famine and human rights and AIDS, and they speak very passionately. We do not say it is an emotional issue. We also question China, and yet many people vote against China MFN because they believe China should be sanctioned in that regard, but they believe we should lift everything as it relates to Cuba. But forced abortion, arrest of dissidents, Tiananmen Square, a whole long list, it seems to me if that after 25 years of engagement is our human rights success in China, we should review that policy. Lastly, why, if lifting the embargo means the end of Castro, why is it his number one foreign policy objective? If it means his end, as everybody would suggest, why is it his number one foreign policy objective? The fact of the matter is that I would ask my colleagues who vigorously support human rights and democracy, who seek sanctions in other parts of the world, like the Sudan and other places, that they need to understand that if we vigorously enforce a sanctions regime wherever we seek to impose sanctions, then we have an opportunity to have a public policy success using peaceful diplomacy versus anything else. Lastly, we are the largest remitters of humanitarian assistance to the people of Cuba, more than all the other countries of the world combined over the last several years. It is Castro who keeps his people hungry by his failed policies.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Chairman, let me first thank the gentlewoman, not only for yielding time to me but for her amendment and for her work in this regard. She has helped bring us to the forefront on this issue. I appreciate her work, working with me as the ranking Democrat on the Subcommittee on the Western Hemisphere. Earlier this year, the Central American nation of El Salvador was devastated by two earthquakes. The U.S. Agency for International Development estimates that close to 1,200 people died and over 85,000 were injured. There were 335,000 homes that were destroyed or damaged. Nearly 1.6 million Salvadorans have been affected, almost one in every four of the country's population; and the estimated costs of rebuilding El Salvador ranges between $1.6 and 2.8 billion. The January and February earthquakes caused more damage in El Salvador than Hurricane Mitch did throughout the whole of Central America. In fact, USAID called the El Salvador earthquakes the worst disaster in the region in over 50 years, dwarfing the damage done by Hurricane Mitch. Yet, in the aftermath of Hurricane Mitch, the United States provided approximately $621 million in emergency funding and close to $1 billion when DOD costs were included. That is about 40 percent of the overall relief contribution. In response to this calamity, we introduced, along with 26 of my colleagues, the recovery bill to authorize emergency appropriations of about $350 million in international disaster assistance for El Salvador. The House and Senate responded by passing resolutions in support of increased funding for El Salvador. On March 7 of this year, our beloved late colleague, the gentleman from Massachusetts, Mr. Moakley, led a bipartisan group of 75 Members of Congress in sending a letter to President Bush asking for a significant emergency aid package for El Salvador. On March 21, the House passed House Concurrent Resolution 41 by a vote of 405 to 1 supporting ``substantially increasing reconstruction and relief assistance for El Salvador in connection with the earthquakes.'' But the House Subcommittee on Foreign Operations, Export Financing and Related Programs has included a paltry $100 million from existing programs for El Salvador in this bill. That is certainly better than the $58 million requested by the administration, and I appreciate the chairman doing that, but it remains woefully inadequate and certainly does not substantially increase, as the resolution calls for, the funding. In fact, it provides just about 5 to 6 percent of what the country actually needs. The Salvadoran people have set an example for the entire world with their impressive transition from authoritarian rule and horrific civil war, in which 75,000 Salvadorans died, to democracy and peace. Our nations are closer than ever. The U.S. is El Salvador's largest trading partner and is an important ally on many fronts, including drug trafficking. We invested billions of dollars in Central America during the 1980s in terms of promoting peace and democracy, but we did it through a military context. Now, since those peace accords were signed in 1992, El Salvador has developed a thriving economy and instituted significant democratic reforms, making it one of the most stable nations in the region. How could we let that investment go to rot? Because what is happening in that country, with such enormous displacement, is to put at risk the very stability, the very democratic institutions, the very underpinnings of democracy that we spent billions in Central America trying to create. That is not in the national interest of the United States; and it is not in the national security interests of the United States when we allow the consequences of what is happening in El Salvador in immigration, in a variety of health consequences, in a variety of subjects that we are concerned about, as our neighbors to the south have those problems, affect us as well. It is in the national interest of the United States to support the Pelosi amendment. I do hope that the other side will allow it to be made in order so this House can have a vote on this most important issue.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, due to a flight delay, I was unable to be present during recorded votes earlier this evening. Had I been present, I would have voted ``yea'' on rollcall votes 257, 258, and 259. Please be sure this is noted in the Record.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to recognize Los Kjarkas, a world-renowned Bolivian folkloric group. The seven members of Los Kjarkas, Gonzalo Hermosa Gonzalez, Elmer Hermosa Gonzalez, Gaston Guardia Bilbao, Eduardo Yanez Loayza, Miguel Mengoa Montes de Oca, Rolando Malpartida Porcel, and Ivan Barrientos Murillo will begin the American portion of their 2001 world tour on July 28th, in New York City. Often referred to as the Ambassadors of Bolivia, audiences throughout the country will be entertained by Los Kjarkas' folkloric presentations. The music of Los Kjarkas provides audiences with an Andean cultural experience that will enhance their knowledge and exposure to Bolivian customs and traditions. Before coming to the United States, Los Kjarkas will begin their international tour in Europe with performance throughout Spain and Switzerland. The tour will conclude in South America. Los Kjarkas has used its fame and notoriety to positively impact the lives of youths throughout Latin America. In 1994, the group established ``la fundacion Kjarkas'', a foundation devoted to teaching children throughout Lain America how to compose and perform Andean music. As a result of their dedication and commitment, Los Kjarkas has inspired many Latin American children to pursue musical endeavors. Today, I ask my colleagues to join me in recognizing Los Kjarkas for their outstanding musical contributions and unparalleled commitment to the children of Latin America.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to recognize Los Kjarkas, a world renowned Bolivian folkloric group. The seven members of Los Kjarkas, Gonzalo Hermosa Gonzalez, Elmer Hermosa Gonzalez, Gaston Guardia Bilbao, Eduardo Yanez Loayza, Miguel Mengoa Montes de Oca, Rolando Malpartida Porcel, and Ivan Barrientos Murillo will begin the American portion of their 2001 world tour on July 28th, in New York City. Often referred to as the Ambassadors of Bolivia, audiences throughout the country will be entertained by Los Kjarkas' folkloric presentations. The music of Los Kjarkas provides audiences with an Andean cultural experience that will enhance their knowledge and exposure to Bolivian customs and traditions. Before coming to the United States, Los Kjarkas will begin their international tour in Europe with performances throughout Spain and Switzerland. The tour will conclude in South America. Los Kjarkas has used its fame and notoriety to positively impact the lives of youths throughout Latin America. In 1994, the group established `la fundacion Kjarkas' a foundation devoted to teaching children throughout Latin America how to compose and perform Andean music. As a result of their dedication and commitment, Los Kjarkas has inspired many Latin American children to pursue musical endeavors. Today, I ask my colleagues to join me in recognizing Los Kjarkas for their outstanding musical contributions and unparalleled commitment

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise together with my distinguished colleague from Arizona, Jeff Flake, to introduce the Export Administration Act of 2001. My colleagues, it is high time for the Congress to responsibly legislate export controls. We have not done so properly since the end of the Cold War, when the raison d' etre for the Export Administration Act of 1979, of preventing the proliferation of sensitive dual-use technologies to the Soviet Union, ceased to exist. As went the Soviet Union, so went the threat of an all-pervasive, mind-focusing totalitarian threat to the United States. So, also, went the very multilateral non-proliferation system, CoCom, that effectively helped keep a lid on that Soviet threat. Now, new threats are upon us--cyber warfare, the potential for proliferation of weapons of mass destruction, and terrorism. It is incumbent upon this Congress to update this legislation in a manner that effectively can address those threats and in a manner that can effectively restrict dual-use exports that may threaten the United States. Indeed, the key single criteria for this renewal, it seems to me, is whether those export controls that we legislate can actually protect Americans. As a matter of principle, before enacting export restriction legislation, both Congress and the Administration must ensure that the affected exports in fact can be effectively restricted. I doubt anyone would responsibly suggest that legislating an unworkable control achieves any worthwhile goal or makes any sense. Other important criteria need to be determined: Would this bill sensibly update the outdated 1979 law? That is, would it recognize that nation-states and other global actors, technology and the threats to the United States have changed significantly since the end of the Cold War? Would it enhance America's economic prosperity without sacrificing America's national security? And would it provide the Executive Branch with all the legal authority and the flexibility it needs to protect the American people? Put another way, would it unduly tie the hands of the Administration in a way that could obstruct its constitutional duty to provide for the national defense? I have taken a hard look at S. 149, which would update the Export Administration Act. After a careful review, I believe this bill, as reported by the Senate, satisfactorily addresses the criteria I outlined above and enhances America's economic prosperity without sacrificing America's national security. It would protect Americans by ensuring that the national security agencies in the Executive Branch may be used to identify any actual or looming threats to our national security. In addition to the Commerce Department, the Defense Department, State Department and intelligence community are at the immediate disposal of the President of the United States and can signal at any time to the administration the need to restrict any export. The Enhanced Control provision of Title Il and the Deferral Provision of Title III would provide the President with the authority to control any export he may see an urgent need to control, notwithstanding any other provisions in the bill--including mass market status or foreign availability or set-asides. There is a glaring need, however, that I believe must be addressed by Congress. The Wassenaar Arrangement for that replaced CoCom is simply inadequate to address multilateral nonproliferation concerns. While the Soviet Union is no longer with us, nuclear proliferation concerns are real and present. Simple periodic reports on dual-use exports are clearly insufficient to address these concerns. I want to commend Chairman Hyde and Ranking Member Lantos and their staffs for holding hearings and briefings on export administration and their very hard work on this issue. But now it is time to move forward with re-authorization, not re-extension. Officials from the Departments of Defense, State and Commerce have testified at the three hearings before the House International Relations Committee has held on this matter and all have signaled their support for passing the Export Administration Act of 2001, as reported by the Senate Banking Committee. The Administration has provided a clear and unambiguous position that titles two and three provide adequate authorities to the President with regard to export controls, notwithstanding any other provisions of law. I also look forward to working with the Administration on non-proliferation matters and building a better multilateral mechanism than the Wassenaar Arrangement. Mr. Speaker, as a member of the House International Relations Committee, I am keenly aware of the national security issues and threats that face our great country. As former Ranking Member in the last Congress of the International Economic Policy and Trade Subcommittee, I came to better appreciate the advent and permanence of rapid technological change and its immediate effects on our national security and economic prosperity. These considerations have persuaded me of the importance of updating the Export Administration Act. I have concluded that passage of S. 149, as reported, is the prudent way ahead both to protect our national security and to enhance our economic prosperity. I am convinced this bill gets it right. The Administration support for this bill attests that it also believes this is the optimal way ahead. I commend the Administration for that because this truly must be a bipartisan effort. Mr. Speaker, the Congress must do its duty and act now to protect Americans and to enhance our economic prosperity. Let us act now to pass the Export Administration Act of 2001.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to recognize Arthur Mayer, Jr., who formally became President of the Benevolent and Protective Orders of Elks on Saturday, July 7, 2001. Mr. Mayer assumed his presidency at the 133rd Elks National Convention in Philadelphia, Pennsylvania. Arthur Mayer, Jr. is a native of Bergenfield, New Jersey and has been an active member of the Bergenfield Elks Lodge #1477 for the past 35 years. In 1978, he was appointed District Deputy Grand Exhalted Ruler for the Northeast District of New Jersey. He also served as President of the New Jersey Elks Association from 1985 to 1986. As President of the New Jersey Elks Association, he managed and supervised over 120 lodges throughout New Jersey. The Benevolent and Protective Order of Elks of the United States of America is one of the largest fraternal organizations in the country. Currently, over 1.2 million men and women serve as members of this prestigious association. In the organization's 132-year history, it has disbursed over $2 billion in goods and services for patriotic and civic programs that assist armed service veterans and students in over 2,000 communities nationwide. As a result of his hard work and diligent efforts, Arthur Mayer, Jr. has helped improve the lives of thousands of families across the country. Today, I ask my colleagues to join me in honoring Arthur Mayer, Jr. for his commitment to helping others and for his years of distinguished service at the Benevolent and Protective Order of Elks of the United States of America.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to pay tribute to Dr. Mark Johnson, who will be recognized by the New Jersey Medical School's Family Practice Residency Program for his outstanding achievements in the fields of family medicine and medical research. Dr. Johnson will be honored on Friday, June 29, 2001, at a private reception at the Landmark II in East Rutherford, New Jersey. Mark Johnson graduated from Coe College in Cedar Rapids, Iowa, where he majored in Black Literature. He furthered his studies by graduating from the University of Medicine and Dentistry at New Jersey's Medical School in Newark, New Jersey. After graduating from medical school, Dr. Johnson spent his family practice residency at the University of South Alabama in Mobile, Alabama. In addition, he was a Robert Wood Johnson Clinical Scholar at the University of North Carolina at Chapel Hill, where he received his Masters Degree in Public Health. Dr. Johnson's notable career as a family physician and medical researcher has earned him widespread praise from his peers and colleagues. The American Medical Association has recognized him on four separate occasions for his diligent work and exceptional endeavors, by presenting him with the Physician's Recognition Award. New York Magazine designated him one of the best doctors in the State of New York in 1999 and 2000. Currently, Dr. Johnson is the Chair of the Department of Family Medicine at the University of Medicine and Dentistry at New Jersey's Medical School in Newark. Prior to his tenure at New Jersey's Medical School, Dr. Johnson taught at the University of North Carolina at Chapel Hill, the University of South Alabama, and Meharry Medical College in Nashville, Tennessee. Today, I ask my colleagues to join me in honoring Dr. Mark Johnson for his distinguished service and commitment to family medicine.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to honor Bart Oates and Rick Cerone, the co-founders of the Teach Our Children Foundation in Newark, New Jersey. On Monday, June 25, 2001, Mr. Oates and Mr. Cerone hosted their Third Annual Oates/Cerone Celebrity Golf Open at the Mountain Ridge Country Club in West Caldwell, New Jersey. This charity event raised funds for the Teach Our Children Foundation, benefiting underprivileged children living in Newark. The Teach Our Children Foundation, a non-profit organization founded by Bart Oates and Rick Cerone, provides educational and developmental opportunities for children living in Newark. The foundation aims to address problems children face in urban America today, including the presence of drugs, the breakdown of the familial structure, and the difficulties urban schools face in handling these and other issues. Bart Oates and Rick Cerone are very well known throughout New Jersey for their successful careers in professional football and baseball. Bart Oates, who is a former New York Giant, graduated from Seton Hall's School of Law, and currently is Vice President for Marketing and Client Service at the Gale & Wentworth Real Estate Company. Rick Cerone is a former New York Yankee, an alumnus of Seton Hall University, and founder and president of the Newark Bears Minor League baseball team. Today, I ask my colleagues to join me in honoring Bart Oates and Rick Cerone, along with the Teach Our Children Foundation of Newark, New Jersey, for providing children with a brighter future and real educational opportunities.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Chairman, I thank the chairman for his consideration.

Mr. MENENDEZ. I yield to the gentleman from Kentucky.

Mr. MENENDEZ. I yield to the gentleman from New Jersey.

Mr. MENENDEZ. I yield to the gentleman from Kentucky.

Mr. MENENDEZ. I yield to the gentleman from Arizona.

Mr. MENENDEZ. Mr. Chairman, I thank the gentleman for yielding me this time. I would ask if he, on behalf of the gentleman from Minnesota (Mr. Sabo) and the distinguished chairman, as well as the gentleman from New Jersey (Mr. Rothman), would join in a colloquy. Mr. Chairman, I would like to thank the gentleman from Kentucky (Mr. Rogers), the chairman of the subcommittee, and the gentleman from Minnesota (Mr. Sabo), the ranking Democrat on the committee, as well as the gentleman from New Jersey (Mr. Rothman), for addressing the needs of New Jersey this year. We have received generous consideration with regard to important projects such as the Hudson-Bergen Light Rail, and I deeply appreciate that consideration. There is, however, one particular project that would greatly benefit my district and the region which did not receive funding. I am referring to the ferry terminal and pier project located in the heart of Jersey City's growing Colgate redevelopment zone. This $10 million project was recently submitted for funding, but was not included in the subcommittee's mark; and I was wondering if the gentleman could comment on that.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to honor the participants and sponsors of the Eighth Annual Puerto Rican International Festival of Hoboken, New Jersey. This dynamic event is part of a week-long celebration that pays tribute to Puerto Rican culture and the achievements of Puerto Ricans all around the globe. This year's festivals were held in Church Square Park on Sunday, June 24, 2001. The Puerto Rican Cultural Committee of Hoboken and the Hoboken Office of Hispanic and Minority Affairs cosponsored the event. The Puerto Rican Cultural Committee of Hoboken and the Hoboken Office of Hispanic and Minority Affairs did a marvelous job in coordinating and planning this year's festivities. For years, these organizations have promoted cultural and community events in Hoboken, which showcase the heritage, pride, and uniqueness of each nationality or ethnic group in Hoboken. In addition, these two organizations provide essential social and professional guidance for Latinos in Hoboken. This lively and spirited festival features artists and musicians from all around the world, as well as Puerto Rican music and dance. The Festival is a place where the entire family can enjoy activities, such as animal rides, a petting zoo, outdoor concerts, and over a hundred food vendors serving appetizing Caribbean cuisine. Hoboken's Puerto Rican Community has been an integral part of the city, and has contributed economically, culturally, and socially to the well-being of our District and State. Today, I ask my colleagues to join me in honoring the participants and co-sponsors of the Eighth Annual Puerto Rican International Festival of Hoboken, New Jersey.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to honor William E. Martin, who will be recognized by the United Way of Hudson County, New Jersey. On Wednesday, June 27, 2001, the City of Jersey City will honor Mr. Martin during a dedication ceremony to rename Vroom Court the William E. Martin Way. A luncheon in honor of Mr. Martin will follow the ceremony. William martin began his distinguished career with the United Way Foundation in 1956, serving as President of the United Way in Hudson County, New Jersey. During his tenure, Mr. Martin was instrumental in establishing over 30 Tri-State United Way agencies. As a result of his hard work and dedication, United Way now provides social services in over 700 communities throughout the Tri-State area, lending assistance to over 8 million people a year. Beyond his administrative duties, William Martin has also served as an ambassador for the United Way Foundation. In 1988, he was chosen by his peers to set up United Way services in Beijing, China and Hong Kong. In addition, he has assisted in the implementation of United Way services in Vietnam, Pakistan, Egypt, and the Philippines. Youth outreach and community service initiatives have also been top priorities in William Martin's life. Prior to his tenure with United Way, he was Director of Human Services at Camp Crowder in Missouri and served as Athletic Director at the CYO Center in Jersey City, New Jersey for nine years. Today, I ask my colleagues to join me in honoring William Martin for his distinguished service on behalf of the United Way of America and the residents of New Jersey.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to recognize Caridad Garcia for her outstanding achievements as a successful producer and radio personality of numerous Spanish broadcasting programs. I am also here today to pay tribute to Caridad Garcia for her great accomplishments as a public relations consultant. Caridad Garcia began her distinguished career in 1989, as Executive Director of the Hope Line Program in New York City. While heading up the Hope Line Program, she created and directed a centralized bilingual outreach, information, referral, and advocacy program for Hispanic residents living in New York City. Through her efforts, she was able to ensure that Spanish-speaking residents living in New York City's metropolitan area had access to vital information affecting their communities. As a public relations consultant, Ms. Garcia has organized and produced several public relations campaigns targeting consumers in the Hispanic community. Between 1992 and 1994, she handled consumer outreach and public relation initiatives for Downy Fabric Softener and Procter and Gamble. Currently, Caridad Garcia is Director of Promotions, Public Relations, and Public Affairs at Radio Unica. Radio Unica is the only radio station in the United States to broadcast in Spanish 24-hours a day. As a result of her hard work, Radio Unica now reaches approximately 80 percent of the U.S. Latino population through a group of stations and affiliates nationwide. For the past two decades, Caridad Garcia has served as an exceptional role model for the Latino community and for all Americans. Today, I ask my colleagues to join me in recognizing Caridad Garcia for her exceptional contributions in the field of radio broadcasting, and for her selfless service to her community and country.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I rise today to recognize Liberty State Park on its 25th Anniversary. I am proud and honored to represent Liberty State Park in the U.S. House of Representatives. For decades, the Park has symbolized freedom and democracy, while providing a beautiful backdrop to the Statue of Liberty and Ellis Island. The park officially opened on Flag Day, June 14, 1976, as New Jersey's bicentennial gift to the nation. Located on the Hudson River waterfront, less than 2,000 feet from the Statue of Liberty, Liberty State Park serves as a place of public recreation for millions of tourists and nearby residents. Every year, families from all across the country travel to the park to picnic, host social gatherings, or simply take in the grand views of the Manhattan skyline and the Statue of Liberty. For years, I have vigorously fought to protect Liberty State Park for our children and future generations. In 1994, 1 successfully fought developers'efforts to convert this cherished landmark into a golf course. In addition, I have worked with a coalition of organizations to remediate the park's interior to provide more space for visitors to enjoy. My family and I have shared and enjoyed this park with countless other families and visitors from all across the globe. We have spent many spring and summer afternoons playing football and taking in the splendid views of the Statue of Liberty and Ellis Island. It has become a family ritual to catch a ferry ride from the park to Ellis Island or the Statue of Liberty on a nice fall day. Liberty State Park continues to play an important role in the lives of the people and families who journey here every year. I love and appreciate this park, and will continue to protect and preserve its natural beauty. I would also like to pay tribute to the Pesin family for their commitment to preserving Liberty State Park and all its splendor. Today, I ask my colleagues to join with me in honoring Liberty State Park on its 25th Anniversary.

Mr. MENENDEZ

Mr. MENENDEZ. Mr. Speaker, I want to thank the gentleman from Ohio (Mr. Oxley) for standing by our bipartisan agreement, for keeping his commitments to those of us on the Democratic side of the aisle, and for fighting for American investors. I also need to say I am not used to disagreeing with the gentleman from New York (Mr. LaFalce), the distinguished ranking member, my friend, because he is such a thoughtful legislator and a good friend. I want to thank him for his principled leadership on the Committee on Financial Institutions and Consumer Credit. However, I strongly support this bill which as written has strong union support, industry support, and agency support. It is rare to get all of those parties supporting one effort, but this bill has it. It has that support for a good reason. The stock market has increasingly become the investment of choice for America's working families, and these families are relying on the growth of their savings to finance everything from buying a home, to putting their kids through college, to having a secure retirement. But just as the savings of American families have moved into the market, the government-imposed fees these families pay to purchase these stocks are taking an every-increasing bite out of their profits. Fees are assessed from everything from mutual funds to pension funds in ways that many investors are not often even aware of and are costing Americans billions of dollars. Once you figure in the loss of compound interest, these fees can rob an individual family of thousands of dollars in lost profits over time. The fees were originally authorized by Congress to cover the operating costs of the Securities and Exchange Commission. That is a necessary and valid purpose which I totally support. Consumers and investment firms benefit from the market, and I think it is reasonable to ask market participants to help pay the costs of the very agency that ensures the market runs efficiently and fairly. The problem is that today, because of a rise in market value, no one could have predicted these fees are taking almost six times what is necessary to fund the Securities and Exchange Commission. That is simply not reasonable. Let us oppose any weakening amendments. Let us make sure that we give investor fee relief. Let us do it in the bipartisan way that this bill has been crafted.