Michael Oxley

Mr. OXLEY

Mr. OXLEY. Mr. Speaker, I rise to engage the gentleman from Alaska (Mr. Young), the chairman of the Committee on Transportation and Infrastructure, in a colloquy. Mr. Speaker, I would like to applaud the gentleman for the legal protections in the bill to get our airlines back in the air. But I wanted to clarify that these protections are intended to limit liability to reasonable levels and not in any way allow their transfer to another deep pocket party. Is this the gentleman's understanding?

Mr. OXLEY. Mr. Speaker, also I am concerned about the thousands of passengers who have advance-purchased airline tickets on flights that have been canceled or rescheduled as a result of the tragic events on September 11, 2001. Airline passengers must not be left stranded when flights are canceled. This is why I support the inclusion of language in this legislation that would require airlines to honor tickets issued by other airlines to the extent practicable. The language I support would also direct airlines to make passengers whole for the price of tickets on flights that are canceled or rescheduled. I appreciate the gentleman's commitment to work with me and other concerned Members in the next few weeks to address this problem with legislation, if necessary. In the meantime, I trust the Federal agencies will do everything possible to make sure that passengers get their refunds they are entitled to or the alternative flights they need. I thank the gentleman profusely.

Mr. OXLEY. Mr. Speaker, reclaiming my time, this bill also provides critical stopgap insurance assistance for the airlines. Is it the gentleman's understanding that any assistance by the Secretary of Transportation is intended to be short term and focused on addressing the uncertainty about further losses from an act of terrorism or war, and that it is not intended to displace the private sector market or be a long-term general insurance program?

Mr. OXLEY

Mr. OXLEY. Mr. Speaker, I rise today to highlight a special community event that will take place in Lima, Ohio. I am pleased to announce that the second annual ``Kids Day America/International'' will occur September 22, 2001. This special day is set aside to address health, safety and environmental issues that affect us as individuals and as a community. It was founded for the purpose of educating families and communities about these important social issues. I am glad to report that it has succeeded admirably. More than 1,300 communities have taken part in this event and more than 1,000,000 children and their families have enjoyed this day across the globe. With the assistance and support of thousands of local police departments, county sheriff offices, dentists, and photographers who volunteer their time, all these children completed Child Safety ID cards. I join Mayors, Governors, Senators, and Representatives who have endorsed Kids Day America/International Chiropractors have also contributed greatly in helping our communities' children. Dr. Kay Heaston of Network Chiropractic of Lima is also volunteering her time and skills for this event. This year the event in Lima will benefit DARE. Officer Bob Stoodt will attend, with the DARE mascot ``Daren'' the lion, to fingerprint ID children. Doctors will be doing spinal screenings; Huntington Bank will be sending Winnie the Pooh and friends. The Lima Fire Department will bring a fire truck and their mascot. Lima City officers will inspect for car seat safety. Girl Scouts will have environmental presentations. As communities rally in support of our great nation, this event will allow families to protect their children even more. Mr. Speaker, once again allow me to voice my strong support for this worthy event and those supporting it.

Mr. OXLEY

Mr. OXLEY. Mr. Speaker, I have heard this plea from my constituents in the fourth congressional district in these numbing days following the unconscionable terrorist attack on the World Trade Center and Pentagon: Find those who did this. Make them answer for their evil. Defend the ideals that our predecessors fought for, to make this a safer and more peaceful world for the generations to come. I was in this House a decade ago when we debated a resolution to support our President, George Bush, when he went to war against Saddam Hussein. I hoped never to have to speak to a military challenge of that magnitude again. But on September 11, America was attacked at home by an enemy that hides in shadows and kills without conscience. By authorizing the use of all necessary and appropriate force against those responsible for terrorist attacks, this Congress shows that it and the American people stands behind our President, George W. Bush, and civilized society. While it is not a technical declaration of war, for all practical purposes the United States is at war with those who want to harm our people, disrupt our economy, shatter our security, and destroy our democratic values. All nations in the world who profess the values of civilization should be with America on this defining mission. We will win before the causes of liberty and justice are more powerful than the forces of evil and hatred. Americans have answered this call before. This time, the enemy is not so much a single country as a destructive concept called terrorism. But we will prevail because this new challenge has once again shown that we are the United States. We know what we are fighting for: the triumph of liberty, freedom, and peace over fanaticism and violence. Our response is just, and our cause will prevail.

Mr. OXLEY

Mr. OXLEY. Mr. Speaker, September 11, 2001 will be a date forever frozen in American history. We will never forget the sickening sight of the World Trade Center and the Pentagon being attacked by hijacked airplanes. We will not rest until the criminals who committed these terrible acts are made to pay. We will always remember the thousands of innocent people who were killed, and the heartbreak that weighs so heavily on their families and friends. But the terrorists did not win. Because while America mourns today, we know from our history that liberty and decency ultimately triumph over tyranny and hate. These fanatics struck with unimaginable might at two symbols of our strengths--the financial district that fuels our economy and the fortress of our national defense system--but the United States still stands. As the Chairman of the House Financial Services Committee, I watched solemnly as the World Trade Center, a towering icon of American and world finance, collapsed into clouds. But our capital markets will survive and thrive, continuing their critical role in our economy. I have been talking with federal regulators and financial industry leaders, including Federal Reserve Board Chairman Alan Greenspan, and plan to work with them to assure consumers, savers, and investors that our systems remain fundamentally sound. As a former FBI agent, I have long been concerned about terrorism. We need to recognize, as the National Commission on Terrorism did last year, that the threat is changing--from state-sponsored terrorism that targeted Americans overseas, to the shadowy acts of mass violence against civilians we experienced in its most evil force yesterday. Everyone agrees that this cannot happen again. But to be taken seriously, our vow must be backed up with adequate resources. Despite space-age technological surveillance, my experience is that there is no substitute for good ground-level intelligence. It's tougher to do, but our intelligence communities need the resources and support that will allow them to make the personal contacts that provide information you can't get anywhere else. One fear I have is that our law enforcement officials are falling behind in their ability to monitor terrorist communications in the wireless and Internet era. There was a newspaper article this year, and maybe we will find it prescient, on Osama bin Laden's use of encrypted messages. Our authorities will forever be a step behind the terrorists if they do not have the legal authority and technical ability to intercept such communications. Sadly, we also must make sure that our communities are adequately prepared to respond to terrorist acts. Think about the crushing demand being placed on hospitals and emergency teams in New York City and Washington. How would other communities with far fewer facilities and trained personnel respond if they were made targets? This Congress and President will do everything that must be done to respond to these disastrous incidents. We will move ahead to protect Americans in this suddenly-uncertain world. And we will continue to mourn the loss of a new breed of patriot--the innocent civilian. September 11, 2001 will indeed always be frozen in our memory as a horrible day for America. But this day, and the days that follow, are what we make of them, and history will judge us on our response.

Mr. OXLEY

Mr. OXLEY. Mr. Speaker, I was unavoidably absent from the House floor during Thursday's roll call vote on H.R. 2833. Had I been present, I would have voted in favor of this bill to promote freedom and democracy in Vietnam.

Mr. OXLEY

Mr. OXLEY. Madam Speaker, I rise today in strong support of H.R. 2833, the Viet Nam Human Rights Act. This legislation is an important component of our Viet Nam trade policy. This bill was additionally referred to the Committee on Financial Services, which I chair, because it contains provisions relating to international financial institutions and multilateral banking organizations. I am including for the record a letter to the Speaker memorializing the cooperation between my committee and the Committee on International Relations in reaching this important compromise. I want to thank the Chairman of the Subcommittee on International Monetary Policy and Trade, the gentleman from Nebraska (Mr. Bereuter) for his hard work, and Chairman Hyde and Chairman Smith for their willingness to engage the Committee on Financial Services on matters within its jurisdiction. Madam Speaker, I urge all of my colleagues to support this important measure. House of Representatives, Committee on Financial Services, Washington, DC, September 6, 2001. Hon. J. Dennis Hastert, Speaker, House of Representatives, Washington, DC. Dear Mr. Speaker: I am writing with regard to H.R. 2833, the Viet Nam Human Rights Act, which is scheduled to be considered by the House today. This bill is similar to H.R. 2368 which was reported by the Committee on International Relations yesterday and additionally referred to the Committee on Financial Services. As you are aware, both bills contain provisions relating to international financial institutions and multilateral banking organizations which fall within the jurisdiction of the Committee on Financial Services pursuant to clause 1(g) of rule X of the Rules of the House of Representatives. As a result of the continuing consultation between the Committees on Financial Services and International Relations, H.R. 2833 contains language responsive to the concerns raised by Members of my committee. Therefore, I have no objection to allowing the Committee on financial Services to be discharged from the further consideration of both H.R. 2833 and H.R. 2368. By agreeing to waive its consideration of the bill, the Financial Services Committee does not waive its jurisdiction over either measure. In addition, the Committee on Financial Services reserves its authority to seek conferees on any provisions of H.R. 2833 that are within the Financial Services Committee's jurisdiction during any House-Senate conference that may be convened on this or related legislation. Thank you for your assistance in this matter. Sincerely, Michael G. Oxley, Chairman.

Mr. OXLEY

Mr. OXLEY. Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation and to insert extraneous material on the bill.

Mr. OXLEY. Madam Speaker, I have no further requests for time, and I yield back the balance of my time.

Mr. OXLEY. Madam Speaker, I am pleased to yield such time as he may consume to the gentleman from New York (Mr. King), the coauthor of this legislation.

Mr. OXLEY. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 2510) to extend the expiration date of the Defense Production Act of 1950, and for other purposes.

Mr. OXLEY. Madam Speaker, I yield myself 5 minutes. Madam Speaker, I rise today in support of H.R. 2510, the Defense Production Act Amendments of 2001. As I am sure my colleagues know, the DPA is an essential element of our national security package. The DPA uses economic tools to provide uninterrupted supplies of industrial resources in times of both military crisis and civil emergency. We are here today because the President's authority under the DPA expires at the end of the fiscal year. This bill introduced by the gentleman from New York (Mr. King) who chairs the Subcommittee on Domestic Monetary Policy and his ranking member, the gentlewoman from New York (Mrs. Maloney), is a straightforward, 3-year reauthorization with a handful of purely technical amendments. Those amendments amount to little more than housekeeping. For example, one of those changes updates the statute to reflect the creation of the Committee on Financial Services at the beginning of this Congress. Others fix errors in section numbering or harmonize language within the statute. Madam Speaker, I have with me the administration's statement in support of this bill along with a letter from Defense Principal Deputy Undersecretary Michael W. Wynne endorsing this legislation. Madam Speaker, I will include these for the Record at this point. Principal Deputy Under Secretary of Defense, Washington, DC, September 4, 2001. Hon. Michael Oxley, Chairman, House Financial Services Committee, House of Representatives, Washington, DC. Dear Mr. Chairman: This letter is to express my strong supporter of the enactment of H.R. 2510, 107th Congress, an Act to extend and reauthorize the Defense Production Act of 1950. The legislation gives the Department the ability to use the authorities of the Act for items and industrial resources that are essential for national security needs. The District Production Act authorities remain important elements in our national defense program. H.R. 2510 extends and reauthorizes the Defense Production Act by three years from September 30, 2001 to September 30, 2004. This legislation provides a number of critical authorities needed to ensure a strong industrial base capable of meeting national defense requirements in peacetime as well as in times of national emergency. Title I of the DPA provides for priority performance on contracts and orders to meet approved national defense and emergency preparedness program requirements. Title I is indispensable in expediting production to meet the critical needs of US forces engaged in military operations. Title I authorities were used to ensure priority production and shipment of numerous items urgently needed by the coalition forces during Desert Shield/Storm and more recently Bosnia and Kosovo. The Title III authorities enable us to establish assured and affordable production capacity for items essential for national defense. Title III is an extremely valuable tool that enables the Department to field technologically superior systems, upgrade the capabilities of older systems, and reduce operations and sustainment costs. A recent Title III project for Discontinuous Reinforced Aluminum (DRA) resulted in the insertion of components made of DRA in the F-16 fighter that are dramatically reducing life-cycle costs and improved flight safety. This legislation does not call for additional spending by the Government or Department of Defense. A similar letter has been sent to the Ranking Member, Congressman John LaFalce. Sincerely, Michael W. Wynne.

Mr. OXLEY

Mr. OXLEY. Mr. Speaker, I was detained from the House floor during last night's vote on H.R. 1140, the Railroad Retirement and Survivors' Improvement Act of 1002. As a cosponsor of this legislation, I would have voted ``aye'' on this bill. H.R. 1140 was carefully crafted to reduce railroad employee plan cost while improving benefits to retirees, widows, and widowers. It has the endorsement of railroad management and almost every rail labor organization. With nearly 600 active rail employees and more than 2,300 railroad retirement beneficiaries in my congressional district, I am glad that H.R. 1140 passed by such a wide margin, and look forward to Senate action on this much-needed legislation.

Mr. OXLEY

Mr. OXLEY. Mr. Chairman, I represent a district with thousands of automobile workers who are proud to build safe cars for consumers. These workers produce quality parts and vehicles that drivers have confidence in. They're concerned when someone in Washington presumes to know more about auto engineering than the people on the production line. And they get really worried, when a decision made here threatens their jobs. By raising CAFE standards, Congress would literally be dictating to automakers how to build their cars and minivans, and telling consumers what they can and can't buy. Frankly, I don't think that many people want a car or SUV designed by a government committee . . . or want Congress to be their car salesman. CAFE is bureaucratic, and diverts resources from real fuel economy breakthroughs. It compromises safety, because ultimately it has the effect of forcing heavier, sturdier vehicles off the road. And for all of the ballyhoo, the statistics show that CAFE has not saved as much gasoline as its proponents predicted. Manufacturers are already working on a new generation of fuel efficient vehicles that consumers will want to buy. Honda is producing a hybrid car at its Marysville plant in Ohio. The workers there--and they include some of my constituents--are building that car because it responds to a consumer need, not because the government is telling them to do it. If we really want to bring relief to the driving public . . . we need far-sighted policies encouraging oil exploration, additional refinery capacity, and common sense environmental regulation. CAFE is a 1970s solution to our energy challenges that is as threadbare as your old bell bottom jeans.

Mr. OXLEY

Mr. OXLEY. Mr. Chairman, let me briefly explain the Committee on Financial Services' contribution to this legislation. Our committee has produced language which furthers an essential element of the President's energy plan, reducing energy consumption, and the idea is to get HUD to improve energy efficiency and conservation. This legislation will improve the community development block grants program to spur energy conservation, create incentives for energy- efficient single- and multifamily homes, and aid Americans who purchase homes that are energy efficient. The Committee on Financial Services has worked hard to ensure that American families can live in cost-effective, energy-friendly homes that will both relieve the strain on their pocketbooks and the strain on our energy infrastructure. Mr. Chairman, H.R. 4 addresses the most critical elements of our energy difficulties. It promotes development of environmentally friendly technology through market competition and not through government mandates. It promotes the wise use of resources without threatening to cripple American businesses. H.R. 4 will lessen our dependence on foreign oil while at the same time leading to lower energy costs for all of us. Mr. Chairman, I congratulate all of my colleagues on the various committees who have worked on this historic legislation.

Mr. OXLEY

Mr. OXLEY. Mr. Chairman, I rise in support of H.R. 2620. I want to thank the gentleman from New York (Mr. Walsh), the chairman of the subcommittee, and the gentleman from West Virginia (Mr. Mollohan), the ranking member, for putting together an appropriations bill that balances all of the competing interests and programs, given the fiscal restraints that we are under. As the chairman of the Committee on Financial Services, the housing programs administered by the Department of Housing and Urban Development fall under our jurisdiction. To date, the committee has held at least nine housing program and oversight hearings to explore how to make these programs models of efficiency and expand housing opportunities for everyone. What the hearings reveal is that we are facing a housing crisis. In some areas, that crisis is one of availability of housing, while in others, it is affordability, with low-income families paying more than 50 percent of their monthly income for housing. In other cases, it has been poor management of public and private resources and, indeed, our committee plans to look into that. I applaud the committee on their work. For example, the HOME program is increased by some $200 million to accommodate the President's request. This new initiative will expand the homeownership dream, particularly for low-income, first-time home buyers. While the overall homeownership rate is 68 percent, we have lots of work to do in our minority and disabled communities to foster this American dream. I will oppose any amendments that diminish the Downpayment Initiative incorporated in the HOME program. I do want to point out to my colleagues that there will be some amendments today related to the elimination of the Public Housing Drug Elimination Grant Program. As I understand, this program is duplicative and that the Public Housing Authorities already have existing authority to provide crime-fighting initiatives through the operating fund. H.R. 2620 increases the PHA operating subsidy to 8.1 percent to allow flexibility to do crime-fighting initiatives and other activities. Moreover, the Drug Elimination Program experienced many abuses, including HUD's approval to allow PHAs to use funds for ``creative wellness'' programs that teach residents to surround themselves with colored gemstones and incense; and I am not making this up, Mr. Chairman, to the tune of $800,000; for occasions and trips, and for controversial gun buy-back programs. I am also concerned that there is $397 million of unspent funds, some dating back to as far as fiscal year 1997. I support the Administration's proposal to eliminate duplicate programs. While I understand that there will always be more need than resources, it is important that Congress act in a fiscally prudent manner that balances the housing program investments made by the taxpayer with the legitimate needs of those citizens who are not finding adequate resources in the private sector. The Committee on Financial Services, including the Housing Subcommittee chaired by Representative Marge Roukema, looks forward to working through the policy details that will ensure an improved housing delivery service.

Mr. OXLEY

Mr. OXLEY. Mr. Chairman, I want to first thank Mr. Istook and Mr. Young for their cooperation in addressing the concerns of the Committee on Financial Services with respect to the Treasury, Postal and General Government Appropriations bill for fiscal year 2002. And while I am supportive of the bill in its current form, I do have a concern with certain language contained in the committee report. That language states: The Committee is aware that concerns have been expressed about the impact of the Federal Reserve/Department of Treasury proposed regulation to redefine real estate brokerage and management activities. The Committee expects Treasury to work with the Department of Housing and Urban Development when developing the final rule. This language contradicts section 103 of the Gramm Leach Bliley Act of 1999 which provides that the Federal Reserve Board, together with the Department of the Treasury, shall have the sole responsibility to determine for financial holding companies what activities are financial in nature or incidental or complementary to such financial activity. Given this conflict between statutory law and the Appropriations Committee report, I have every expectation that the Federal Reserve Board will follow the letter and intent of the law. In noting this contradiction, I am not expressing an opinion on the Federal Reserve Board/Treasury proposal to classify real estate brokerage and management activities as financial activities. I trust the Federal Reserve Board and the Department of the Treasury will fully consider the views of the public, the industries affected by this proposal, as well as the relevant Federal and State agencies, and take any time necessary to do so.

Mr. OXLEY

Mr. OXLEY. Mr. Chairman, reclaiming my time, let me thank the gentleman from Washington for his strong comments. Indeed, we are trying to expand the pie here. We are not trying to get in a situation, hopefully, that the gentleman from Vermont wants, which is the Congress determines what private industry hires and fires and then punishes the Export-Import Bank or successful exporters as a result.

Mr. OXLEY. Mr. Chairman, I move to strike the requisite number of words. Mr. Chairman, I rise in opposition to the amendment. Let me say, this has been a spirited debate; and I want to first say that the gentleman from Indiana, I have great respect for, and I am a member of the Steel Caucus and I come from a steel State. But I have to tell you, this does not help the steel industry. It does not help our ability to create export-related jobs. This is an amendment that would severely cripple the Export-Import Bank's ability to create jobs, particularly in small business. We have to understand that 80 percent of the transactions of the Export-Import bank deal with small business and help small business creating export markets all over the world. Every dollar of taxpayer money that is invested in Export-Import's program has seen historical returns of some $15 for every $1 in credit support for export transactions. So the result of this amendment, whether we like it or not, and it is great to get up here and waive the bloody shirt about the steel industry, is it is going to cost us jobs, it is going to shrink our ability to export in other markets; and while this budget that we are dealing with is critical to creating export jobs, the amendment does quite the opposite. Let us not try to punish the Export-Import Bank or do what we are trying to do here because of one controversial loan. I would say to my friend from Vermont, that was an aberration, not certainly something that is business as usual in regard to the China steel issue. As the chairman of the authorizing committee, I am here to say that our committee is working assiduously on Export-Import reauthorization with the chairman of the subcommittee, the gentleman from Nebraska (Mr. Bereuter); and I fully expect that we will report a bill that is balanced and fair and promotes exports all over the world. Let me just say also to my friend from Vermont, who pointed out General Electric specifically, let me tell my friend from Vermont about a plant that I have in my congressional district in Bucyrus, Ohio, that is a General Electric plant. They make fluorescent lighting tubes. They currently create and build millions of those that are exported to Japan. They make a specific kind of smaller tube than that used over here that fits into the Japanese architecture and their homes and businesses; and, as a result of using Export-Import facilities, they are able to increase that market substantially. Those General Electric jobs in my congressional district are very, very important to me and to our community. I would point out before the gentleman from Vermont makes what would appear to be a bad example of General Electric, I would say that the General Electric situation certainly that I pointed out is a very positive one and points out how good the Export-Import Bank can be.

Mr. OXLEY. I yield to the gentleman from Vermont.

Mr. OXLEY. Mr. Chairman, reclaiming my time, I think the last thing the Export-Import Bank needs, and certainly the private sector needs, is micromanaging on the part of Congress dealing with a worldwide global economy.

Mr. OXLEY. I yield to the gentleman from Washington.

Mr. OXLEY. Mr. Chairman, I yield to the gentleman from West Virginia (Mr. Mollohan).

Mr. OXLEY

Mr. OXLEY. Mr. Speaker, it is my privilege today to welcome one of my constituents as our guest chaplain, Pastor Timothy N. Armstrong of Mansfield, Ohio. Pastor Armstrong is the founding and senior pastor of Mansfield's Crossroads Community Church. He started this interdenominational, independent evangelical church in a school gymnasium in 1996. With only 30 people in attendance initially, the church swelled to 200 within a month. Today, after less than 5 years, Crossroads welcomes more than 1,700 people per weekend. Pastor Armstrong is an inspiration to the Mansfield community, bringing a unique and meaningful preaching style to his congregation. Through practical application of the Bible's truths to everyday living, he reaches out to the unchurched in and around Mansfield in a most effective way. A graduate of Dallas Theological Seminary, Pastor Armstrong initially pursued a business degree in college, ultimately realizing his calling to the ministry. He and his wife, Michelle, are the proud parents of twin girls, McKenna Kate and Isabelle Grace. Mr. Speaker, I want to thank Father Coughlin for giving Pastor Armstrong the opportunity to open today's session; and on behalf of my colleagues, I want to thank Pastor Armstrong for his spiritual guidance as we begin our work today.