Scott Murphy

Mr. MURPHY of New York

Mr. MURPHY of New York. Mr. Speaker, I move that the House do now adjourn.

Mr. MURPHY of New York

Mr. MURPHY of New York. Madam Chairman, I have an amendment at the desk.

Mr. MURPHY of New York. I yield myself 1 minute. This amendment would substitute the definition of a major swap participant that is in the current draft back to the language that was in the draft that came out of the Agriculture Committee. Chairman Peterson and Ranking Member Lucas worked with the whole committee to develop the definition that was used in the Ag Committee, and it's different from the version that is on the floor now in two ways: It's more restrictive in terms of allowing financial companies to be exempt from being classified as a major swap participant. So more companies would be held to a higher regulatory standard. And it is a little bit less restrictive with respect to manufacturing companies being classified as a major swap participant. I think that's very important because we want people who are systemically risky to be held to a higher standard of accountability, but we don't want to capture our manufacturing companies, the kind that are represented by the National Association of Manufacturers, the kind that are supporting this amendment, to be captured in that regulation. We want them to be able to do their business and use derivatives to hedge their actual risk. That's why there was such broad bipartisan support for this when it was in the Agriculture Committee, and that's why we want to support it now.

Mr. MURPHY of New York. Madam Chairman, I'd like to yield 1 minute to the gentleman from New York (Mr. McMahon).

Mr. MURPHY of New York. I yield 1 minute to the gentleman from Maryland (Mr. Kratovil).

Mr. MURPHY of New York. Madam Chairman, I'd like to yield 1 minute to the gentleman from Oklahoma (Mr. Lucas).

Mr. MURPHY of New York. In closing, I just want to say that I think that what we have here is an amendment that will take us back to the commonsense solution that we found on a bipartisan basis in the Ag Committee. It's a solution that does get at the root of the problem. We've got large financial institutions who need to have additional accountability and regulation. That's what we're trying to do with our major swap participants. But it carves out our manufacturers and our energy companies that use derivatives to hedge their risk. That's why we've got support for this amendment from the American Wind Energy Association, the National Association of Manufacturers, the National Rural Electric Cooperatives. Our businesses that are using derivatives to hedge risks need not be subjected to the same rules and requirements as the large guys and the dealers. We need to make sure our end users are protected so they can use derivatives successfully to hedge their risk and stabilize their business. That's what's going to protect jobs. That's what we need to get our economy moving. That's why people need to support this amendment. I yield back my time.

Mr. MURPHY of New York. Madam Chairman, I demand a recorded vote.

Mr. MURPHY of New York

Mr. MURPHY of New York. My amendment very simply gets rid of an anachronistic law from 1933. Right now, it's illegal for banks to pay interest to business checking accounts. This adversely affects our small businesses and keeps them from building their business. Now, as we are fixing some of the issues we have with our regulatory system, is the right time to get rid of that. So my amendment would make it legal for banks to pay interest to business checking accounts. It wouldn't require it, but it would make it legal. This is the kind of commonsense approach that's going to move us forward and help our small businesses get this economy going again.

Mr. MURPHY of New York

Mr. MURPHY of New York. Thank you, Chairman Peterson, and also thank you to Ranking Member Lucas. The work we did on the Ag Committee I think is the kind of commonsense solution that Americans are looking for. We worked together to come up with regulatory reform in the Ag Committee with respect to the derivatives legislation. And we saw overwhelming support from not just Democrats, but Republicans, because people in that committee know what the American public knows: For the last 10 years, Washington has failed to regulate our financial markets. As a result, some of those on Wall Street and at the big financial firms have taken that opportunity to gamble with our money. They have put our future at risk, and they have put the very American dream that so many Americans spend their time hoping and praying for at risk. It is time for us to respond to that. The failures in Washington and the failures on Wall Street precipitated the worst financial crisis since the Great Depression, and it is our job here and now to come up with solutions to that. Wall Street melted down, and Main Street paid the price. This cannot happen again. So what do we need to do? We need to regulate what wasn't regulated. So many people now recognize that no one was looking at systemic risk, no one was looking at the AIGs of the world and seeing what they were up to. There were whole sections of the derivatives marketplace that no one was regulating; in fact, by a law that was passed here in Washington, no one was responsible for looking at it. That cannot continue. There were whole parts of the consumer world that were not regulated--mortgage brokers, payday lenders. This cannot continue. We must regulate what was unregulated to bring everything into the system. We need to protect our consumers. We talked about payday loans and mortgage brokers and the kind of liar loans that were put out there and passed. No one was responsible strictly for looking at protecting our consumers. This legislation will do that. With the Consumer Financial Protection Agency, there will be a focus on protecting our consumers. That's something that is common sense. That's something that all Americans want us to do here in Washington. The last thing that everybody in my district wants--and I think Americans all over this country want--is they want protection from taxpayers having to fund any future bailouts. Nobody thinks that Main Street should be bailing out Wall Street; it shouldn't have happened in the past, and it sure should not happen again in the future. It is critically important that we fix that. The bill that we have in front of us does set up dissolution authority. It is funded by the large financial institutions to help shut down those that fail. That is what needed to happen in the past; that is what needs to happen in the future. That is the kind of commonsense reform that we all need to come behind. We need to regulate what wasn't regulated, we need to protect our consumers, and we need to make sure that taxpayers never again have to fund a bailout. That's what we are working on here. That's what this legislation would do. And I think it's very important that we come together to pass this and protect America's taxpayers, protect our financial system, and get our economy moving again.

Mr. MURPHY of New York

Mr. MURPHY of New York. Mr. Chair, I have an amendment at the desk.

Mr. MURPHY of New York. Mr. Chairman, I yield myself as much time as I may consume. I rise today to offer a simple amendment that would require the solar technology road map committee to submit an annual report to the Secretary of Energy and to this Congress on its activities over the prior 12-month period. For far too long, our Nation has operated without a comprehensive energy strategy. As a result, we spent $475 billion importing foreign oil last year. That's more than our entire trade deficit. This is a crisis that we must address, and our working families and small businesses feel that every day as they see rising energy costs. And while I believe a successful energy strategy will require investments in a broad range of domestic energy sources--wind, solar, hydro, and nuclear--today's legislation is a critical step in the development of a strategy to more effectively develop and utilize solar technology and to move our Nation closer to energy independence. I applaud Congresswoman Giffords, Chairman Gordon, Ranking Member Hall for their hard work on this important issue. Today's legislation creates a solar technology road map committee that will be charged with creating a road map to present the best estimate of the near-term, mid-term, and long-term research and development needs in the solar technology world, as well as provide guidance for solar technology research, development, and demonstration activities supported by our regular Federal Government. This is a critical path for us, and it's one we've been working on in New York with our own efforts for many years, and one that I'm familiar with. Our efforts at NYSERDA in New York really helped a lot of small businesses in the solar community and in other energy technologies, businesses that I worked with when I was an investor helping those small businesses grow. And as we heard Congressman Himes say a minute ago, this is the future of manufacturing in America, and this road map will be a critical element to moving us in the right direction. Specifically, this bill requires that 30 percent of the DOE solar research and demonstration funding is awarded based on the recommendations of the committee in 2012, and that will rise to 75 percent in 2015. My amendment simply requires that the committee report back their activities to the Department of Energy and to this Congress so that we can better evaluate the growing potential of solar technology and how we're doing in terms of implementing that road map. I think that that kind of accountability is exactly what's been missing from our Federal Government for far too long, and this is the kind of information that we need as a Congress to hold people accountable for the spending of the Federal dollars that we're going to put there. We're making important investment decisions, but we also need to hold everyone who is involved accountable for making sure that those decisions are moving us forward on the road map and are aimed in the right direction. This strategy will help us do that. My report will allow us to hold everyone who is involved accountable for doing it and being successful. That's critical to the American taxpayers whose money is being invested here. With that, I would like to say thanks again to Chairman Gordon for his hard work and to Ranking Member Hall. I reserve the balance of my time.

Mr. MURPHY of New York. I appreciate the support from Ranking Member Hall. I would just close by saying it is incredibly important that we watch every taxpayer dollar in these tough times. And we're making important investments here. They're going to have an economic impact; they're going to create jobs in our communities. But we need to be responsible. This report will lead to that kind of accountability and responsibility. I yield back the balance of my time.

Mr. MURPHY of New York

Mr. MURPHY of New York. Madam Speaker, on rollcall No. 781, had I been present, I would have voted ``nay.'' Mrs. McMORRIS RODGERS, Madam Speaker, on rollcall No. 781, I was unavoidably detained. Had I been present, I would have voted ``nay.''

Mr. MURPHY of New York

Mr. MURPHY of New York. Madam Speaker, I stand today to point to upstate New York's leadership and significant accomplishments in partnering education and 21st-century job creation. This week, the hard work of the capital region's higher education institutions and businesses were highlighted when President Barack Obama lauded Hudson Valley Community College's great work in preparing young professionals and training leaders for the 21st-century economy. The President spoke about the vital importance of education and about the role community colleges will play in reviving our economy and in preparing a workforce for the future. I have spent my entire career working to create jobs and high-tech businesses across upstate New York. One of the keys to preparing our economy for success is having a well-educated workforce. This week, we heard the President lay out three building blocks for innovation: Education, infrastructure and research. This is exactly what we have been working on and developing in upstate New York, and it is what has made our region a leader in the innovation economy. As our economy becomes more knowledge-based, the continued leadership of our colleges and universities will be ever more important. Twenty- first century jobs will require increasingly knowledgable workers in the innovative programs, and our Nation's fine higher education institutions are a key to them.

Mr. MURPHY of New York

Mr. MURPHY of New York. Madam Speaker, on rollcall No. 732, the Motion to Adjourn, had I been present, I would have voted ``no.''

Mr. MURPHY of New York

Mr. MURPHY of New York. I rise today with the very sad duty of reporting the tragic passing of Army Private First Class Jeremiah J. Monroe. PFC Monroe was taken from us on September 17, 2009, by a roadside bomb in Afghanistan, just 2 months after his deployment. Private First Class Monroe was assigned to the 630th Route Clearance Company, 7th Engineer Battalion, 10th Mountain Division, based in Fort Drum, New York. A beloved father, brother, son, friend, and soldier from Warren County, Jeremiah, will be sorely missed by the entire Adirondack and Fort Drum communities. Jeremiah Monroe was just 31 years old. He quit his job last year as a tradesman to enlist in the Army. He wanted to support his daughter and the extended family and serve the Nation he loved and the ideals for which he gave the ultimate sacrifice. Private First Class Monroe was willing to give his life in service to all of us and to the country that he loved. The expression of our gratitude for his sacrifice to our Nation is beyond words. Jeremiah is survived by his mother, Dolores Monroe; his brother, Robert Monroe, Jr.; his 9-year-old daughter, Delilah Rose; and her mother, Michelle. On behalf of a grateful Nation, our thoughts and prayers are with the entire Monroe family, who lost four relatives in the last 18 months, including Jeremiah's father, Robert Monroe, Sr.

Mr. MURPHY of New York

Mr. MURPHY of New York. Madam Speaker, on Thursday, July 9, 2009, I was absent from U.S. House of Representatives while on official business in my district. Had I been present, I would have voted as follows: ``no'' on rollcall 497; ``aye'' on rollcall 498; ``aye'' on rollcall 499; ``aye'' on rollcall 500; ``no'' on rollcall 501; ``aye'' on rollcall 502; ``no'' on rollcall 503; ``no'' on rollcall 504; ``no'' on rollcall 505; ``no'' on rollcall 506; ``no'' on rollcall 507; ``no'' on rollcall 508; ``aye'' on rollcall 509; ``aye'' on rollcall 510; ``aye'' on rollcall 511; ``aye'' on rollcall 512; ``no'' on rollcall 513; ``aye'' on rollcall 514; ``aye'' on rollcall 515; ``aye'' on rollcall 516; ``no'' on rollcall 517; ``no'' on rollcall 518; ``aye'' on rollcall 519; ``no'' on rollcall 520; ``aye'' on rollcall 521; ``no'' on rollcall 522.

Mr. MURPHY of New York

Mr. MURPHY of New York. Madam Speaker, I am honored to rise today to congratulate the Mechanicville High School Softball team who, in addition to winning an impressive five New York State titles in Class C this decade, have recently captured the Class B State Championship. The Red Raiders faced tough competition, in addition to quite a bit of rain, to pull out a 3-1 victory against Fredonia at Waterloo High School. I would especially like to recognize the impressive performance of sophomore Anna Arcenaux, who allowed just one run while winning two games in the final four. Arcenaux's efforts were aided by freshman Alysa Russell and sophomore Kelsey Hines, two of the team's most outstanding hitters. Leading Mechanicville's young team to victory was head Coach Dan Arcenaux, who will have the opportunity to repeat this success next year with the same roster of outstanding athletes. On behalf of the citizens of the 20th District of New York, we congratulate the Mechanicville Red Raiders softball team and their coaches for an outstanding display of teamwork and athleticism.

Mr. MURPHY of New York

Mr. MURPHY of New York. I yield back.

Mr. MURPHY of New York. Mr. Chairman, I have an amendment at the desk.

Mr. MURPHY of New York. Mr. Chairman, I yield myself such time as I may consume. Like so many other Members here today, I rise to speak in favor of this bill and in particular an amendment that I think will make it stronger. For many years, I have been a small business owner, a founder of small businesses, and for the last 8 years, I have been investing in small businesses all over New York. I have seen the challenges that small business people face, and I'm well aware of the needs that they have as they start these businesses. And in particular in this troubled economic time, what those of us that work in the small business world know is that many more entrepreneurs will turn to their own efforts to start small businesses. We will see a lot more small businesses founded by entrepreneurs in these troubled economic times as people can't find jobs and they are getting laid off from bigger companies. In particular, you have got that combined with the veterans that are coming back from our efforts overseas. And as we draw down in Iraq, a large number of veterans will be coming back and mustering out looking for job opportunities. What they are going to need is help because they are going to go and try to start small businesses. And it is a difficult task. My amendment would increase the funding for the Veterans Business Centers that are already contemplated in this bill. Instead of $150,000 for each of the first 5 years, they would be allocated up to $200,000. And instead of $100,000 thereafter for 3 additional years, they could go up to $150,000. I think it is critical that we make sure that we have enough of these Veterans Business Centers, like the one that we already have in the Albany area near my district, to help as many veterans as we can when they come back. There is a great need out there. I saw this myself. I started my first business when I was 24 years old. People ask me, What would you do differently if you did it again? And every time I say, The thing I would do differently is I would turn to get more advice from experienced people early on. That is exactly what these centers will provide for our veterans. And I ask that people support this amendment to make sure we have the funding for them. And I reserve the remainder of my time.

Mr. MURPHY of New York

Mr. MURPHY of New York. Mr. Speaker, I rise today with a very sad duty of reporting the tragic passing of Roslyn Littman Schulte, who was taken from us by a roadside bomb just north of Kabul earlier today while serving our country. Roslyn Schulte was a first lieutenant in the United States Air Force, an intelligence officer, and the younger sister of my chief of staff, and a great friend of this body, Todd Schulte. Roslyn Schulte was born March 18, 1984, in St. Louis, Missouri. She was a graduate of John Burroughs High School in St. Louis, and attended the United States Air Force Academy, where she graduated in 2006. She was deployed to Afghanistan on February 18 of this year. Like so many patriotic Americans, Lieutenant Schulte was willing to give her life in service to all of us and to her country. The expression of our gratitude to her is beyond words. Roslyn is survived by her parents, Bob and Suzy Schulte, and her brother, Todd. The thoughts and prayers of a grateful Nation are with the Schulte family and with Roslyn's fellow troops and friends at this difficult time. As we stand on this floor and debate the profound issues of our times, let us never forget the true cost of the freedoms that we so often take for granted.

Mr. MURPHY of New York

Mr. MURPHY of New York. Thank you, Chairman Rangel. It's an honor to stand on this floor of this House and join the outstanding men and women of this 111th Congress. I look forward to getting to know all of you, to learning from you, and, most of all, working with you in the spirit of bipartisan cooperation that our challenges so desperately demand. Upstate New Yorkers made clear to me that while the challenges we face as a country are some of the greatest we have ever known, they're not Democratic challenges, they're not Republican challenges. And as our President has said, this country is not as polarized as our politics would suggest. So while we may disagree at times on issues, we must never forget that our goals are the same: to make sure that we have good jobs for our workers; to keep our families healthy and safe; to help our small businesses grow and prosper; to build a cleaner, independent energy future; and to make sure that our kids can find jobs so that they can stay near their families and in our communities like those all across Upstate New York. I have dedicated my career to creating jobs and helping small businesses grow, working with people of all backgrounds and parties to solve complex challenges. Beginning today, I will fight to invest in the 21st century infrastructure that will create jobs and get our economy moving again. There are so many people to thank for making this journey here today possible. First and foremost, the voters of the 20th District of New York. I'm humbled and honored by the faith and trust that they have placed in me, and I pledge to work every day to make their lives a little bit better and to live up to my ultimate job description of being their voice here in this House. Now, the first person I would like to thank is the most important person in my world, my best friend, the love of my life, my wife, Jen, who is up in the audience here. Without her encouragement and support, I never would have tried this and would never have been successful. I also want to thank my kids, Simone and Lux, who are down here on the floor with me, and my son Duke. Their curiosity and energy inspires me every day and reminds me and reminds all of us that we are here fighting for a brighter future for them and all of America's children. I also want to thank my dad. And I am a very lucky man, I have my grandparents here with me today. I want to thank them and my mom, who is not around anymore, for teaching me the lessons of hard work and thriftiness and compassion that allowed me to achieve what I have in life and to join this body. And I want to say thanks to the family and friends that have made the trip down from New York. Many of you have heard I've got a huge family. We have got 57 people in our immediate family. At least half of them are up here in the gallery. So thank you all very much for being here and for all your support. And I want to say thanks to Speaker Pelosi for your wonderful leadership and to the rest of the leadership team: the majority leader, Steny Hoyer; Caucus Chairman Larson; Whip Clyburn; Chairman Van Hollen, who have all been very helpful in putting this all together, and I couldn't have gotten here without your help. So thank you very much. A special thanks to Senator Gillibrand, who made this opportunity possible and who did an amazing job representing the families of Upstate New York, and I heard that consistently on the campaign trail. So thanks for your support and your wonderful work on behalf of our district. I also want to say thanks to President Obama and Vice President Biden for their excellent leadership. And I look forward to working with them and all the Members of this body to make sure that we get the stimulus money, the economic recovery money out and make sure it's as effective as it can possibly be in impacting our communities and getting this economy moving. Thanks also to the outstanding New York delegation that was so excited and helpful in this race. I am looking forward to working on behalf of a brighter New York with so many other Members from our fine State. I want to say thanks to all the other leaders that were helpful, Governor Paterson and Senator Schumer and all the volunteers and staff, and particularly the excellent staff that I had that are here that did so much on our behalf for this campaign. So thank you to everyone who was involved. As I began serving the people of Upstate New York, I pledged to work with each and every Member of this body to put people back to work, to take care of the taxpayers of today and of tomorrow, and to give our kids a 21st century education, and, most of all, to summon the true spirit of cooperation that it will take to make sure that America's brightest days are still ahead of us. Thank you.