Patrick McHenry

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I yield 2 minutes to the gentleman from North Carolina (Mr. Walker).

Mr. McHENRY. Mr. Speaker, I yield myself such time as I may consume. I rise today in support of S. 1698, the Treatment of Certain Payments in Eugenics Compensation Act, introduced by my friend and colleague, Senator Thom Tillis of North Carolina. Senator Burr and Senator Tillis have been very active in getting this bill passed through the United States Senate. Mr. Speaker, S. 1698 is a bipartisan bill that will help victims of State government eugenics campaigns by excluding one-time, eugenics- related, compensation payments from consideration when calculating Federal benefits. In essence, this would ensure that the victims of State-based and State-mandated eugenics programs in the early part of the 20th century--which over 30 States actually had--are not further victimized by being kicked off the social safety net, which many of these victims who are still alive depend on. Many of these victims are still alive today, as I mentioned. In North Carolina, at least, 220 out of the reported 7,600 victims were still living as of September of last year. My home State has worked to make amends for those that the State victimized. Our State legislators, now led by Senator Tillis passed-- and the Governor signed--legislation that provided large, one-time compensation payments to victims of eugenics programs that are still alive and still in our society today. In North Carolina, victims can receive payments from the State government ranging from $20- to $45,000. Our State is not alone. Virginia has a similar program, awarding $25,000 in compensation to each victim of the State's eugenics programs. These one-time compensation payments count as normal gross income under current Federal law and could have the unintended effect of increasing some of the victim's reported income, thereby costing them access to some Federal income-based benefits. Mr. Speaker, such an outcome is unfair. These individuals have suffered great pain at the hands of their State government and must not be further victimized by losing the important benefits they are receiving today. The takeaway is that this was a State-created problem and the State owed them compensation, and we should ensure that these individuals are able to get the benefits they need and deserve. Mr. Speaker, this is important legislation that is bipartisan. I am happy to have the support of my colleague, Representative Butterfield, a Democrat from North Carolina, representing eastern North Carolina as a cosponsor of this important bill. I reserve the balance of my time.

Mr. McHENRY. Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days in which to revise and extend their remarks and include extraneous material on the bill under consideration.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I rise today to deliver a speech to this body that no one wants to deliver. It is with a heavy heart that I speak today in honor of Tim Brackeen, an officer with the Shelby, North Carolina, Police Department, who was mortally wounded in the line of duty this past weekend. Officer Brackeen was doing his job, keeping our community safe, when he was shot in the line of duty very early Saturday morning. He passed away from his injuries on Monday. Officer Brackeen was only 38 years old. He leaves behind his wife, Mikel, and a 4-year-old daughter, Daphne. Officer Brackeen was a law enforcement officer who loved his job and loved what he was doing. He had been with the Shelby Police Department since 2004 and, prior to that, was a detention officer with the Cleveland County Sheriff's Office. For the past several years, he had worked as a K-9 officer with his partner, Ciko. He had a passion for his work and was well-known throughout the community. Officer Brackeen and his dog, Ciko, often did demonstrations to show how officers and their K-9 partners work together to keep us safe. In 2012, Officer Brackeen's service and dedication to his duty was recognized as he was named the Shelby Police Officer of the Year. The city of Shelby is a truly special place, and so was this police officer. It was Shelby Police Chief Jeff Ledford who summed up the officer best when he said: ``Tim was a great person. If you want to know what Tim was like, just look around this town.'' He is exactly right because, Mr. Speaker, Shelby is that very special place. It is a tight-knit community that still exhibits what it really means to be a community. That was clear Monday night when hundreds and hundreds of people in this small town representing a variety of backgrounds packed the Court Square to pray for Officer Brackeen's family and his fellow officers. It is clear as you drive around Shelby and the rest of Cleveland County and see the black and blue ribbons and the messages of sympathy that adorn the windows of businesses and homes. It was clear yesterday as police officers, firefighters, and everyday citizens lined the streets and overpasses to pay respect to this fallen law enforcement officer as the procession traveled to the funeral home. This is not the first time I have spoken on the House floor about the Shelby Police Department. In June of 2015, after the tragedy in Charleston, that horrific violence that occurred there, it was the Shelby Police Department that apprehended that vile shooter in that event. What we saw then was a community where faith leaders from every part of that region worked hand in hand with law enforcement to replace the divisions we see in other parts of the country with conversation and understanding that represents the best of what is in western North Carolina. I have no doubt Shelby will respond to this tragedy in similar fashion. With the perpetrator of this heinous crime captured, our focus turns solely to paying tribute to Officer Brackeen and his life of service. Mr. Speaker, I extend my condolences to Officer Brackeen's family and to the entire Shelby Police Department as they mourn this tragic loss. May we keep his family, fellow officers, and all our men and women in blue in our prayers.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I also rise today to honor a great man and a great friend, one of my constituents from Catawba County. Dave Hearn has served as president of the Catawba County Chamber of Commerce and has done so for the last 12 years. He recently announced his retirement from 43 years of work with chambers of commerce throughout the southeast. Danny is a graduate of Lenoir-Rhyne University. Shortly after graduation, he went to work at the local chamber of commerce as an intern, and that career would last him until actually just a few months from now. He served local chambers, rising through the ranks from Norfolk, Virginia; Rockingham, North Carolina; Statesville, North Carolina; and he will finish his career in Hickory. Danny is well known for a couple of different things in the community. Danny is most well known for his commitment to small business. He has fought tirelessly on behalf of the small business community and the business community generally. In fact, one of the greatest accomplishments at the Catawba County Chamber of Commerce under Danny's leadership is the Edison project, a competitive contest that awards much-needed start-up capital to local entrepreneurs. He began this initiative in the midst of one of the worst economic downturns in western North Carolina history. Danny knows that the backbone of our local economy and the backbone of our country is small business. He understands that small business development is the key to our region's economic development, growth, and recovery. Danny's work with small businesses has truly paid off. Recent statistics show that wages in Catawba County are growing at a faster rate than most counties in the country, and this is a great success under Danny's leadership. Danny is also extraordinarily well known for his love of golf. Danny's second-to-last day on the job in September will be hosting the chamber's annual golf tournament. What a fitting way and a truly poetic way for Danny to end his chamber career. He will be doing two of the great things that he is passionate about: working with small businesses leaders and playing golf. So to Danny: You will truly be missed in Catawba County. Your leadership will be truly missed. However, your impact will be felt for generations to come. We thank you for your leadership, and I thank you for your friendship.

Mr. McHENRY. Mr. Speaker, I rise today to honor Mike Rhyne, a great man and a friend from Rutherford County, North Carolina. Mike served as an aldermen for Ellenboro, the same town where his brother, Jim, serves as mayor. Ellenboro is a small town, but they don't actually view themselves that way. In fact, Mike and his late wife, Pat, were instrumental in starting the town's yearly festival. When they decided to figure out a name on what to call it, they called it ``Ellenboro's Big Day.'' That was sort of Mike's personality coming through in just the naming of that event. In fact, Mike gave me a T-shirt--and I still have it--``The Big Day'' T-shirt that he gave me a few years ago. Mike also really deserves a lot of credit for restoring the old Ellenboro train depot and transforming it into the town's history museum. In this history museum, they pay tribute to the countless veterans that grew up, were raised, and came home to Ellenboro and to those that gave their lives in the service of our country. That really pays a special tribute to the community. To Mike's family, I extend my sympathies. Ellenboro and Rutherford County have lost a true public servant, and I have lost a good friend. Retirement of Catawba County Chamber President Danny Hearn

Mr. McHENRY

Mr. McHENRY. I thank the chairman. I thank him for his great work on this bill that he has produced tonight. And I have enormous respect for my colleague from Alabama and her concerns. At risk with this amendment is cutting off access to credit for millions of Americans. Under the plan the CFPB is considering, not only would their regulation eliminate small-dollar loans, but it could also introduce significant new underwriting expenses on every loan. The result? The very consumers that need the money the most will ultimately be left in the dark. Payday lending needs to be studied, deserves to be studied, should be considered, and carefully considered. Instead, this amendment wants the CFPB to go full bore, full steam ahead, without having thoughtfully answered the question: Where will consumers that need these loans go next? That is the deeper, harder issue. Outrage is easy. It is. But the tough part, indeed, the most important part for us as policymakers is to make sure that we get this right for those Americans--those millions of Americans--that actually need short-term lending.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I rise today in support of the Fix Crowdfunding Act. Mr. Speaker, these days, small businesses are struggling to find the financing investment that they need to start up and to grow. That affects jobs. It certainly does. Recently in my district, we have read reports that smaller counties in America, which used to lead the Nation in the growth of new businesses, now have actually lost more businesses than they have created. The reason why the ranking member and I are actually able to work together on an important piece of legislation like this in a very logjammed discussion point about appropriate regulation--a lot of stuff gets locked up in partisan debate--what unites our conversation is a rural issue and an urban issue, and it is about capital deserts in America. Now, everybody talks about food deserts. If you think about this, if you are not close to a grocery store, then you can't get fresh fruit, fresh vegetables, and you can't get foodstuffs for your family. But we have capital deserts in America. Capital deserts are about those areas that are not Boston, Austin, and Silicon Valley. It is the rest of America that is struggling to get the capital they need so they can start a business, so they can grow a business. I am not talking about the next Google or Facebook--maybe it is. I am talking about a lawn service. I am talking about a coffee shop. I am talking about a baker who wants to sell her goods on a wider scale so that she can provide for her family. Those are the concerns that are real and that we can address in a real way before Congress today-- tonight--in this vote. Investment crowdfunding is one way we can reverse this disturbing trend. What this bill does is allow us to expand what you are able to do through investment crowdfunding. Five years ago in the JOBS Act, we had a revolutionary change to the way we allowed individuals to invest a little bit of money in their fellow men. It allowed men or women in local communities to invest in a local coffee shop. You didn't have to be a wealthy investor to get these great opportunities. You could be the average, everyday investor like me or like many of my constituents. But in the JOBS Act and in the investment crowdfunding part of that bill that I wrote 5 years ago, out of that, the Securities and Exchange Commission wrote four regulations, and they created a couple of major challenges as a result of that. One is the 12(g) problem. Let me explain this. What the 12(g) problem is is that, in essence, you are subjecting very low fundraising to very expensive regulatory disclosures. That is a problem. It is a problem because it is costly. It is economically costly and restricts economic opportunity. We fixed that in the Fix Crowdfunding Act. Another significant problem for crowdfunding is that under SEC rules, single-purpose funds are not permitted. Let me explain this. Single- purpose funds are like this: you have somebody who has a fiduciary responsibility, meaning that I am going to look out for your best interests on this investment and we are able to create a fund in order to pool those resources, that investor acumen, if you will, and work together with them. So it allows unsophisticated people to get sophisticated advice if we allow special purpose vehicles. So these two very important provisions, understood at a very simple level, if we fix these things we will provide more economic opportunity, we will have better investor advice, and we will be able to expand and make real the utility of crowdfunding. The essence of this is that we believe in the capacity of individual Americans to make decisions for themselves and to take a little bit of risk for themselves. It is a powerful thing. It is a powerful, meaningful step forward. Now, it doesn't solve the greater debate that we are having here in Washington on so many challenging issues of policy where perhaps the left and the right don't see eye to eye. But on this, we came together and we were able to create a small opening of economic opportunity and try to get those resources out into the community. It is a meaningful step forward. I thank the ranking member of the Financial Services Committee. I thank Ranking Member Waters for her active engagement on this. She helped improve our original bill that came through the Financial Services Committee 5 years ago, and she has helped work through this compromise before us on the House floor tonight. While we may not agree on so many other issues of policy, we have worked together on two substantive areas of policy here in recent weeks. I think that is a hopeful sign. I think it is a positive sign. What we are doing here today will expand that opportunity for millions of Americans to have that little bit of investment that they would like to make in their fellow man and their fellow woman to create new jobs to provide new economic opportunity. Ladies and gentlemen, I ask and encourage your support for the Fix Crowdfunding Act, and I urge an ``aye'' vote.

Mr. McHENRY. Mr. Speaker, may I inquire how much time is remaining?

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I rise today because of the economic importance of what we are doing. We are trying to help grow the economy, create jobs across this country in a more fruitful way than just in pockets of prosperity across this country. In areas that are like my district in rural western North Carolina or the ranking member's district that is an urban district, we want to have prosperity in all 50 States, in all communities, and the economic opportunities that our constituents are desirous of, and I urge the adoption of this bill to help expand economic opportunity.

Mr. McHENRY. Mr. Speaker, I thank the chairman of the Capital Markets and Government Sponsored Enterprises Subcommittee, and I rise today to support the Supporting America's Innovators Act. Mr. Speaker, these days, American small businesses are facing a capital crisis. This is particularly true for early-stage companies and startups. Despite the headlines from Silicon Valley, the truth is that the vast majority of early-stage companies are not securing venture capital funding. Indeed, almost 80 percent of startup investment goes to just three States in these United States. Meanwhile, angel investing for these early-stage companies is challenging. Investing in startup companies is inherently risky, which is why the wealthy investors who qualify to become angels often shy away from it. This is why we need to address the challenges facing angel investing. This is accomplished by changing our mindset and creating a regulatory framework that encourages innovation and growth, while ensuring that shareholder and investor protections remain strong. Ranking Member Waters and I proposed an amendment that would increase the cap of investors from 100 to 250 for accredited investors of angel funds, and this would only apply to qualifying venture funds narrowly tailored to early-stage investing. What we have before us in the full House is a great work of compromise, and I thank the ranking member, Ms. Waters, for her diligent work, working with my staff and her staff together over many long hours to come up with this compromise that we have that will, I believe, garner bipartisan support like it did in the Financial Services Committee. I do thank the ranking member for working diligently to make this outcome possible. The result of our proposed amendment and what we have before us allows for early-stage companies to raise the capital they need by opening up angel investing to more accredited investors. This is a good bill. It is a compromise bill, and I am pleased that this legislation enjoyed wide support. I urge my colleagues to support it and vote for it, and let's get this thing done and signed by the President.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I rise with a heavy heart to pay tribute to Captain Bradley Long, a fallen firefighter from my district. Captain Long was a dedicated public servant and was born to be a firefighter. In fact, he started volunteering as a junior firefighter when he was just 14 years old at the Sherrills Ford-Terrell Fire and Rescue. He followed in his father's footsteps, who had fought fires for 25 years. Though he was a full-time firefighter with the Newton Fire Department, he also continued to serve as a volunteer at Sherrills Ford-Terrell Fire and Rescue, which is where he was serving when he died in a diving accident while attempting to rescue a missing swimmer. Following his death, Captain Long's father described how Bradley loved what he did and how he loved helping people, and that is what he was doing when he gave his life. Captain Long is the epitome of a public servant, and he will be deeply missed.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I rise today to recognize the 2016 North Carolina Teacher of the Year, Bobbie Cavnar, from my district in Gaston County. Mr. Cavnar has spent the last 13 years teaching British literature at Belmont's South Point High School. He spent the last year receiving awards, tremendous awards, in fact. In May, he was named Gaston County's Teacher of the Year. Then, in December, he was named the best teacher for North Carolina's southwest region. Mr. Cavnar's students describe him as an engaging teacher who asks your opinion and values what you say and believe--maybe something we in the House could learn from--and the type of teacher who makes you want to come to school, perhaps the highest compliment you could pay to a high school teacher these days. Please join me in congratulating Bobbie Cavnar, and thank him for his dedication to the students of Gaston County.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, we also hear stories of small businesses being around for 10 or 20 or 30 years, and it is amazing, in and of itself, that a small business can survive that long. In my hometown of Gastonia, North Carolina, Tony's Ice Cream has been a landmark for over 100 years. In fact, this year marks its 100th anniversary. In 1915, an Italian immigrant named Carmine Coletta began Tony's as a horse-drawn wagon that served ice cream to those in Gastonia's Loray Mill Village. Eventually, the first store was opened and took the name ``Tony's'' in honor of Carmine's brother-in-law, who managed the store. The current location was built in the 1930s and now is run by Carmine Coletta's grandson and his children. Generations of Gaston County kids--me included--have grown up knowing there is no better milkshake than one from Tony's. In fact, my favorite is chocolate. To the Coletta family, I thank them for their service to our community. Really, building an enduring institution for a century is such a significant achievement, especially given the challenges that we face as a country and with the economy. They have meant a lot to their employees. They have also meant so much to generations of children, like me and so many others, in what they have provided. I thank the Coletta family, and I honor them on their 100th anniversary. I also thank Holy Angels, on their 60th anniversary, for their significant contribution. Mr. Speaker, it is an amazing place in which to grow up, Gaston County. It has such great values and also wonderful institutions there that I learned so much from as a child, growing up there with my two brothers and two sisters and my parents, from whom I learned so much. So I take this moment to recognize these fine institutions in Gaston County.

Mr. McHENRY. Mr. Speaker, I rise today to recognize two fine institutions in my home community that I grew up in: Gaston County, North Carolina. I grew up in that community and spent most of my life living in Gaston County, and there is an incredible story. Beginning in 1955, a newborn baby named Maria Morrow was brought to the Sisters of Mercy's motherhouse in Belmont, North Carolina. Maria was born with severe physical disabilities, and her mother was overwhelmed and unable to care for her. The Sisters of Mercy nuns took Maria in, and, thus, Holy Angels was born. As word about Maria spread throughout the community, State--and country, in fact--more children with special needs began arriving at Holy Angels. As each new child arrived, the Sisters of Mercy worked to meet their needs. Funds were raised, and the necessary facilities were built. Over time, more professional nursing and medical staff were hired. Today, Holy Angels provides full-time resident care as well as physical therapy, day programs, and vocational programs through their Cherubs Cafe and Life Choices locations. Holy Angels' CEO, Dr. Regina Moody, and her dedicated team of professionals continue to fulfill the promise that the Sisters of Mercy made when they took Maria in 60 years ago. That promise is now enshrined in Holy Angels' motto: Loving, living, and learning for the differently able. Holy Angels has been serving those in need for 60 years, and their timeless spirit will be around forever in the families they have touched, in the lives they have touched, and in how they have helped shape our community in Gaston County. I honor Holy Angels, and I thank them for their service, not just for those people in their midst for whom they are providing care, but for what they mean to our community. Tony's Ice Cream

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I thank the gentleman from New Jersey (Mr. Garrett), the chairman of the Capital Markets and Government Sponsored Enterprises Subcommittee, for yielding time. I thank the gentlewoman from New York (Mrs. Carolyn B. Maloney), the ranking member of the subcommittee, for working with me on the provisions of the bill we are talking about this afternoon. I also want to thank the gentlewoman from California (Ms. Maxine Waters), the ranking member of the full committee, for working with us to craft this compromise we have on the floor here today. I have joined together with my colleagues from across the aisle to offer a Federal exemption from registering for the resale of private company securities, which is vital for adding liquidity to the secondary markets and driving economic growth. Today private growth companies are not only disrupting existing industries, but are creating entirely new markets. Thanks to private markets, in particular, the advancement in American technology and entrepreneurship is thriving. Funding the growth of these private companies, however, has created a paradigm shift. This shift requires our regulatory framework to achieve a balance between encouraging innovation and growth while ensuring that shareholders and investors are protected, and those investor protections need to remain strong. Unfortunately, as successful entrepreneurs and startup employees look to sell their private shares in the secondary markets, they encounter a regulatory framework that is inefficient. That inefficiency is costly and dries up the liquidity of these securities and is harmful to economic growth. Most private secondary transactions rely on a broadly accepted exemption known as section 4(1)(\1/2\). While widely known and applied, section 4(1)(\1/2\) has never been formally codified into securities law. The result has been a disjointed collection of case law and no- action SEC letters that have shaped these private secondary transactions. Our bill attempts to fix this problem. The bill would provide an exemption for these types of transactions, allowing startup employees the ability to execute trades in a way that is consistent, clear, and certain. That is why we have Federal securities laws, for that certainty, that clarity, and that consistency. It would allow for private companies to find a much better way to raise capital by opening up the secondary markets. Although the bill is a technical fix, we have worked hard to seek compromise and find commonsense solutions to this complicated exemption. While we have negotiated in good faith on this bill, as has the party across the aisle, my goal is to ensure that the language and operation of this compromise will work in the real world. Further improvements to the bill may be necessary to fully codify existing uses of that authority, and I am committed to working with my colleagues across the aisle as well as folks in the Senate to clarify the intent here. I look forward to continuing to work with our ranking member of the full Committee on Financial Services, as necessary, to ensure that the law is a useful tool and serves as an example of how policy can meet the demands of a changing marketplace. The bottom line is this bill is a sensible way forward. This bill will lower costs and provide transparent standards for the issues that are important in the private and secondary transactions. Additionally, the bill will give today's private growth companies a foundation on which they can confidently plan their trajectory through the capital markets, both private and public. Ultimately, codifying this exemption will ensure the United States remains the best market in the world for the world's innovators to build their businesses here and employ Americans and grow our economy. I am pleased that this legislation enjoys bipartisan support, and I urge my colleagues to support it.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I thank the chairman for his leadership on this important matter of national security. Today, I rise in opposition to this bad nuclear deal the President has negotiated. I don't oppose it because the President negotiated it. I don't oppose it because it was brought forth by this administration. I oppose it because it is bad for the security of America. It is bad for the security of the world. It is bad for the security of our most sacred ally, Israel. It is bad for the nonproliferation strategies the world has had to mean that we have fewer nuclear weapons on this planet. Now, you have to ask yourself a few basic questions: Has Iran warranted the trust of the international community to enter into this agreement? The answer is no. It is very clear by their actions over the last 20 and 30 years that they should not be trusted. Number two, we hear the Supreme Leader of Iran saying, time and again, ``death to America and Israel.'' He has declared his nation is committed to the destruction of Israel. He has called America the Great Satan. Now, how can we believe a country is fully committed to our destruction yet, at the same time, uphold their end of the bargain? We can't. We must oppose this agreement based off of what is best for international security and what is best for our Nation's security. We also have to oppose this because it will mean, during my lifetime or during my children's lifetime, we will have more nuclear weapons, not fewer. This is a bad agreement, and we should reject it.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, last Thursday, Americans across the country awoke to the horrific news of nine lives ended in an act of hatred and senseless violence that occurred at Charleston's AME Church. The senseless act of violence shocked the country and left the Carolinas in a high state of anxiety as the suspect remained on the run. Fortunately, due to the vigilance of quick thinking of one of my constituents and the professional work of local law enforcement, the perpetrator of this heinous act was brought to quick justice. Thursday morning, Gastonia's Debbie Dills spotted the suspect and his car after having seen photos on the morning news. She quickly called 911, alerted local law enforcement to its whereabouts, and then the Shelby Police Department took over pursuing the suspect and arresting him. A little over 12 hours after the event occurred, the monster who committed this heinous act was in custody. I want to express my gratitude to Ms. Dills, the Shelby Police Department, local law enforcement, and the entire Cleveland County community for their work in assisting in this arrest. Their quick thinking and professional work brought this manhunt to a close and allowed all Americans to begin the mourning process for the nine innocent lives that were ended just a week ago.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I want to thank my colleague from Michigan (Mr. Huizenga) for his hard work on this piece of legislation. It is well crafted and is a very important reform that the American people need to understand and appreciate. What the American people understand is that Washington regulations are preventing them, Americans, from realizing the dream of homeownership. These arbitrary, Washington-created barriers are keeping young people, recently married couples, and low- and middle-income Americans from accessing mortgages they need to own a home. That is wrong. Right now, consumers are bearing the brunt of regulatory overreach under Dodd-Frank. According to the most recent housing data, the U.S. homeownership rate is now the lowest that it has been in 20 years. Young homeowners are being hit particularly hard. For example, in my district, in Buncombe County, in Asheville, the number of young homeowners fell to a level not seen since the year 2000. That is unacceptable. Combine these figures with recent reports indicating serious distress in the credit markets, and it becomes clear that young, lower-, and middle-income Americans are being squeezed out of the dream of homeownership. It is important to note that this bill will not do a number of things. Nothing in this bill undoes the Dodd-Frank requirement that lenders ascertain a borrower's ability to pay, nor does the bill in any way change the strict underwriting standards that the CFPB has set for qualified mortgages. Instead, this bill simply allows more loans to fit under the current limitation on points and fees, thereby expanding access to credit at a time when credit is still very tight. It also provides clarity to the calculation of points and fees which allow more loans to meet the requirement of qualified mortgages. These are very important reforms, very necessary reforms, and are good for American homeownership. I congratulate my colleague for crafting this fine piece of legislation. I urge my colleagues to support the bill.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, a week ago yesterday, the Nation lost one of its most selfless and unique public servants with the passing of my predecessor, former North Carolina 10th District Congressman Cass Ballenger. Up until 2005, Congressman Ballenger represented the 10th District of North Carolina in the United States House of Representatives. During that time, he served as chairman of the House Subcommittee on Workforce Protections, where he authored groundbreaking legislation that improved workplace safety and created the opportunity for employers and regulators to be partners, not adversaries, in protecting the health and safety of workers. As chairman of the Western Hemisphere Subcommittee on the International Relations Committee, he took on the daunting and often thankless task of fighting to promote democracy and defend human rights in Central and South American nations. He did this not only for the sake of justice in those countries, but also to protect the interests of the United States. His personal commitment to serving his constituents is a legendary example that I strive every day to follow. I was the beneficiary of his kind and gracious nature when I was elected to represent the 10th District in 2005 after his decision to retire from the House. He personally provided me with guidance and assistance that immeasurably helped me as a new Member of Congress and ensured continuity of our quality constituent services for western North Carolina. In his personal and professional life, Cass placed others before himself. He was a part of the Greatest Generation. He fought in World War II and returned home to go to college. He started a family and joined his father's business in box manufacturing. He told his father that boxes were a thing of the past and the wave of the future was plastics. It is almost like it was George Bailey coming home to say that. As a county commissioner in Catawba County, he was one of the first Republicans elected after the Civil War. Now, at this date, Catawba County is one of the most Republican counties in the State of North Carolina. He led the way to establish the Catawba Valley Community College and Catawba Valley Medical Center. As a legislator in the North Carolina General Assembly, he authored the State's first meaningful open meetings law and was named Most Effective Republican Legislator by the North Carolina Institute of Government. It would take volumes to talk about all of the philanthropic work of Congressman Ballenger and his wife, Donna, but they are responsible for countless schools, day care centers, hospitals, and disaster responses in the United States and Central and South America as well. Personally, Cass was the ultimate character. He could tell you a great story, a great joke, and tell you off, and you would laugh at everything he said. In addition to being one of the most distinguished Members of the House and the North Carolina Republican delegation generally, Congressman Ballenger was also very colorful. There are great moments here on the House floor that we can point to. Anyone who spent any time with him knew that he was affable, kind, and brutally honest. He would tell you exactly what he was thinking, and generally with a hilarious delivery. He was one of the few people who could hold someone accountable in the most blistering way possible, make you laugh, and also help you out of a tight spot, all in one conversation. He was a rare person, indeed, and he will be missed. I ask my colleagues to join with me in a moment of silence on the passing of Congressman Cass Ballenger.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, please join me in welcoming to the House of Representatives today our guest chaplain, my constituent and fellow resident of Lincoln County, North Carolina, Reverend Randy Cash. A native North Carolinian, Reverend Cash was commissioned as a Navy chaplain in 1980. During his 26 years of Active Duty, Reverend Cash has done tours supporting both the Navy and Marines with time in Liberia, the Congo, and Albania and supporting Operations Desert Shield, Desert Storm, and, most recently, Operation Enduring Freedom. Additionally, Reverend Cash has served as deputy chaplain to the U.S. Marine Corps and multiple roles for the Naval Chaplaincy School, including commanding officer. Reverend Cash is visiting Washington this week for the 55th annual conference of the American Legion, for which he currently serves as national chaplain for that fine organization. Please join me in welcoming Reverend Cash to the House of Representatives, and thank him for his years of dedicated service to our Nation, our Nation's men and women in the military, and our veterans.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, this week Americans from all 50 States will gather at over 11,000 events nationwide to celebrate National School Choice Week. These are not partisan gatherings focused on a particular piece of legislation, nor are the attendees advocating for one type of school over another; rather, these gatherings will highlight the importance of providing parents with diverse choices when it comes to the education of their children. Far too often America's children are given educational opportunities dictated by what best serves someone else's economic interest or is focused on their own economic status or where they live. This is inappropriate. We need a better way. I have supported legislation to expand charter schools. That is a bipartisanship thing that we can all agree on. That empowers parents. At the State level, Republican legislators and Governors have passed open enrollment laws and funding portability for education. National School Choice Week is a great reminder that we must continue to pursue these vital reforms, ensuring all parents have freedom when deciding how to educate their children.

Mr. McHENRY

Mr. McHENRY. Mr. Speaker, I first want to commend Chairman Hensarling for bringing this bipartisan agreement and construct to the House floor. It extends a very important Federal backstop against the risk of terror on the American people, small businesses, and substantial businesses as well. As I have said in the past, it is very important that we reauthorize the TRIA program, and the chairman incorporated diverse opinions, including those from across the aisle. I also want to commend our colleagues from New York, Congressman Grimm and Congressman King, for the important work that they did to bring this about today. As amended, the bill will ensure that terrorism risk protection is available for the next 6 years, while lessening the taxpayer burden. Since September 11, the TRIA program has provided an important Federal backstop for businesses that must insure against the devastation of a future attack. Congressman Hensarling has worked with our friends across the aisle to make commonsense changes to this program while ensuring that both businesses and taxpayers are not exposed to the risk of future terrorism attacks. In addition, as amended, this bill will make some very important technical changes to the Dodd-Frank Act by protecting manufacturers, ranchers, and small businesses that need to hedge against business risk. While this legislation will become law--and I expect a substantial number of my Democratic colleagues to cross the aisle and vote with almost all of the House Republicans and the Democrat Senate to pass this, and a Democrat President to sign this--I urge my other colleagues on the other side of the aisle to come on over. It is a good reform, a necessary reform, and it is going to be a fantastic strong vote that we are going to have in the House of Representatives to do the right thing, both for the taxpayer, the American people, and small businesses, while at the same time protecting against the devastation of a future attack. I thank the chairman and I also thank subcommittee chair, Mr. Neugebauer, for their work on this very important program. It has been a long process, but it shows that the Financial Services Committee can get the deal done.

Mr. McHENRY

Mr. McHENRY. I thank the secretary of the Republican Conference, my colleague and classmate from North Carolina, Virginia Foxx. Mr. Speaker, today, I stand in tribute with the fine threads of a man named Howard Coble. Congressman, State representative, Secretary of the North Carolina Department of Revenue, captain of the United States Coast Guard, school bus driver--that is where it all began, in high school. That was his first public service. John Howard Coble has held a variety of titles during his time and during his years, but to me, he has always been known as the dean, the dean of the North Carolina delegation, which he has been, for the last 15 years, the longest-serving Republican Member of this body in the history of the State of North Carolina, and my friend. I am here to pay tribute and to thank him for his time in public service. He is what a Member of Congress should be, and that is concerned for his constituents and being their voice here in Washington and having an impact. You certainly, my dean, have had a huge impact on my life, those that are paying tribute to say thank you tonight, but also your constituents and the American people, and we thank you. Now, there are a number of stories about the dean, a number of them I would like to tell over the years, and most of them are, in fact, true. This one story I want to tell tonight--actually, two, if I may. It goes back to the first time Howard ran for Congress in 1984. The campaign committee for the Republicans brought up folks in tough, challenging races to have some video and film shot with President Ronald Reagan. He helped with his popularity to help get some folks across the finish line in 1984. Howard was so nervous that he forget to shake the Gipper's hand, so one of the campaign committee staff, they were coming to Coble's district, and Howard said, ``Where were you?'' And he said, ``Well, I was just in Alabama with President Reagan.'' ``Oh, really?'' He says, ``Yeah. I told him I was going to Greensboro, and President Reagan looked at me and said, 'Well, tell that son of a gun that didn't shake my hand I said hello.''' So Howard got a little flustered and was a little embarrassed and everything else until everybody started laughing, but Howard has had a great sense of humor, and that shows the real testament to Howard's integrity. The other thing about Howard is fiscal conservatism. It goes back to what he said in his first campaign, he is going to bring a sharp pencil to the Washington budget, and he, in fact, has. In fact, it wasn't very well-appreciated during his early service in Congress. There was a Member of Congress who was furious, who said, ``That sharp pencil might actually get your ticket written out of Congress.'' And Howard told him that he thought, ``Well, I believe there is life after Congress,'' and let the guy go on his way. Well, that guy was not reelected, and Howard has been reelected 14 times during his time here, so true proof that fiscal conservatism can still win. There are a number of other stories that we will talk about over perhaps a drink afterwards, but the one thing is everybody from his district knows and those of us from North Carolina know that he knows every high school mascot in the State of North Carolina. Every child that I see that comes through Congress is simply amazed that their dean knows where they are from and knows their high school and their high school mascot. It is because he cares. So we are grateful tonight, and we want to say ``thank you'' to our friend, our dean, our leader--John Howard Coble.

Mr. McHENRY

Mr. McHENRY. Madam Speaker, the statistics associated with human trafficking are nothing short of staggering. Studies have estimated that it is a nearly $10 billion industry in the United States, and it affects over 300,000 young men and women that are victims of human trafficking. The human toll is real and significant. The SAVE Act changes the idea that the Internet can be used as a marketplace for those purposes. The SAVE Act does what 47 State attorneys general have done and asked us to do. The SAVE Act makes it a Federal crime to knowingly advertise for the sexual exploitation of minors and trafficking victims. While this is not the end of human trafficking and sexual exploitation of minors, it is a necessary and long overdue step. I want to commend my colleague, Mrs. Wagner, for her leadership on this very important issue and for constructing a very thoughtful piece of legislation.