Jack Reed

Mr. REED

Mr. REED. Madam President, today, I am introducing the Affordable Housing and Homeownership Protection Act with Senators Smith, Gillibrand, Blumenthal, Klobuchar, Fetterman, and Baldwin. Our bill would provide up to $50 billion to help build and preserve approximately 3 million units of affordable housing and would be fully paid for through a transfer tax on investors who acquire and hold more than 15 single-family homes. Driven by a shortage of as many as 6.8 million homes nationwide, home prices have surged 39 percent and rents 31 percent over the last 4 years, according the National Association of Realtors and Zillow. Higher rents and fewer opportunities for home ownership are devastating for millions of families. As housing costs skyrocket, more households are priced out of home ownership, while renters have less to spend on food, clothing, and other everyday necessities. Low-income Americans are particularly strained. The National Low Income Housing Coalition estimates that 73 percent of extremely low- income households spend more than half their income on housing. Unsurprisingly, homelessness has risen in line with housing prices and is up 15 percent since 2019. Unfortunately, Federal investments in low-income housing are insufficient to solve this affordability crisis. Indeed, researchers at Harvard University found that the three largest Federal housing programs serve nearly 300,000 fewer households today than they did 20 years ago, while approximately 25 percent more households are eligible but can't get aid. At the same time, investors are buying a greater share of single- family homes sold each year--many of which they hold as rentals-- preventing more families from reaching home ownership and often driving up rents. Most households cannot compete with the largest investors, who are typically private equity and other institutional investors. That is because large investors can use their financial might to make all-cash offers, waive, contingencies, and provide other concessions that individual buyers simply cannot match. Through last October, more than one out of every four single-family homes sold in 2023 were bought by investors, not hard-working households--a 69-percent increase from investors' prepandemic share of home purchases. Our Affordable Housing and Homeownership Protection Act would tackle both our affordable housing crisis and institutional investors who crowd out families in the housing market. It would raise $50 billion by taxing investors who purchase large numbers of single-family homes, with higher tax rates for the largest investors. Revenue would be split between the Housing Trust Fund, HTF, and Capital Magnet Fund, CMF, to help build and rehab over 300,000 rental units for extremely low-income Americans through HTF grants and help finance 2.7 million homes for low-income families via CMF, which leverages private investments. In other words, our bill would help build and rehabilitate millions of homes for American families and boost households competing to buy homes with deep-pocketed investors, all without raising the deficit. This is a commonsense, fair proposal that tackles perhaps our Nation's biggest challenge. I thank the bill's endorsers--the National Low Income Housing Coalition, National Housing Law Project, National Consumer Law Center on behalf of its low-income clients, National Housing Resource Center, Americans for Financial Reform, and Consumer Action--and urge my colleagues to support this important legislation.

Mr. REED

Mr. REED. Madam President, today, I am introducing the Affordable Housing and Homeownership Protection Act with Senators Smith, Gillibrand, Blumenthal, Klobuchar, Fetterman, and Baldwin. Our bill would provide up to $50 billion to help build and preserve approximately 3 million units of affordable housing and would be fully paid for through a transfer tax on investors who acquire and hold more than 15 single-family homes. Driven by a shortage of as many as 6.8 million homes nationwide, home prices have surged 39 percent and rents 31 percent over the last 4 years, according the National Association of Realtors and Zillow. Higher rents and fewer opportunities for home ownership are devastating for millions of families. As housing costs skyrocket, more households are priced out of home ownership, while renters have less to spend on food, clothing, and other everyday necessities. Low-income Americans are particularly strained. The National Low Income Housing Coalition estimates that 73 percent of extremely low- income households spend more than half their income on housing. Unsurprisingly, homelessness has risen in line with housing prices and is up 15 percent since 2019. Unfortunately, Federal investments in low-income housing are insufficient to solve this affordability crisis. Indeed, researchers at Harvard University found that the three largest Federal housing programs serve nearly 300,000 fewer households today than they did 20 years ago, while approximately 25 percent more households are eligible but can't get aid. At the same time, investors are buying a greater share of single- family homes sold each year--many of which they hold as rentals-- preventing more families from reaching home ownership and often driving up rents. Most households cannot compete with the largest investors, who are typically private equity and other institutional investors. That is because large investors can use their financial might to make all-cash offers, waive, contingencies, and provide other concessions that individual buyers simply cannot match. Through last October, more than one out of every four single-family homes sold in 2023 were bought by investors, not hard-working households--a 69-percent increase from investors' prepandemic share of home purchases. Our Affordable Housing and Homeownership Protection Act would tackle both our affordable housing crisis and institutional investors who crowd out families in the housing market. It would raise $50 billion by taxing investors who purchase large numbers of single-family homes, with higher tax rates for the largest investors. Revenue would be split between the Housing Trust Fund, HTF, and Capital Magnet Fund, CMF, to help build and rehab over 300,000 rental units for extremely low-income Americans through HTF grants and help finance 2.7 million homes for low-income families via CMF, which leverages private investments. In other words, our bill would help build and rehabilitate millions of homes for American families and boost households competing to buy homes with deep-pocketed investors, all without raising the deficit. This is a commonsense, fair proposal that tackles perhaps our Nation's biggest challenge. I thank the bill's endorsers--the National Low Income Housing Coalition, National Housing Law Project, National Consumer Law Center on behalf of its low-income clients, National Housing Resource Center, Americans for Financial Reform, and Consumer Action--and urge my colleagues to support this important legislation.

Mr. REED

Mr. REED. Mr. President, I ask unanimous consent that all postcloture time on the Crews nomination be considered expired at 2:30 p.m. today and that, following disposition of the Crews nomination, the Senate proceed to legislative session to execute the order from December 19, 2023, with respect to the veto message on S.J. Res. 32; further, that all time on the veto message be considered expired and the Senate vote on passage of the joint resolution, the objections of the President to the contrary notwithstanding; and finally, that upon disposition of the veto message, the Senate resume executive session to resume consideration of the McEntarfer nomination.

Mr. REED. For the information of the Senate, there will be two rollcall votes at 2:30 p.m. today. I yield the floor.

Mr. REED

Mr. REED. Madam President, I rise today to pay tribute to an outstanding public servant, my former colleague and friend Senator Herb Kohl who passed away on December 27, 2023. Over his 88 years, Herb rightfully earned a reputation as a civic-minded champion, whether it was in his many business ventures, his ownership of the Milwaukee Bucks, or his four terms representing his home State of Wisconsin. Herb was the son of immigrants who came to America from Poland and Russia and joined in our Nation's entrepreneurial tradition by opening their own business: a small grocery store. Along with his parents and siblings, he helped grow this one store into a successful regional chain. Even with the enormous success of the business, Herb never forgot where he came from. Reflecting on his parents later in his life, he said that ``[t]hey came with zero . . . None of us [children] ever thought we could get by on anything less than a full effort in life.'' Herb remained deeply and personally involved in the business. He would visit dozens of Kohl's stores each week and would personally interview every full-time employee from the top on down. Herb knew that by focusing on his workers, by making sure they were secure in their jobs and able to thrive, that his business would flourish. One of Herb's closest friends once said of him, as noted by the University of Wisconsin's alumni magazine, ``With any store we walked into, he knew every employee by their first name, and he knew all their families . . . You could tell his whole heart and soul was into it.'' In 1985, when the Milwaukee Bucks were on the verge of being sold off and moved to another city, Herb stepped forward and bought the team with the promise to Bucks fans that the team would never leave. He stayed true to his word, even when it came time to sell the franchise three decades later, putting up $100 million of his own money to help build a new arena to serve as the team's home. That kind of generosity and commitment to the community made Herb a truly beloved figure in Wisconsin. Four times, voters there turned out to send him to the U.S. Senate, each time by wider margins. Just as with his business, Herb put his whole heart and soul into serving the people of the State. He championed gun safety legislation and nutrition programs for children. He worked to support the State's agriculture industry, and his office became known as the gold standard for constituent service which, given his history, was no surprise. He was the embodiment of his campaign slogan, ``Nobody's Senator but Yours.'' I would like to extend my heartfelt condolences to Herb's family and to all those who loved him in Wisconsin. Through his work, we know that his impact will continue to be felt, and his humility and dedication will serve as an inspiration to public servants for years to come.

Mr. REED

Mr. REED. Madam President, today I am reintroducing the Predatory Lending Elimination Act along with along with Senator Merkley, Senate Banking Committee Chairman Brown, and many of my colleagues. This important legislation would extend the bipartisan Military Lending Act's, MLA, projections for Active-Duty servicemembers and their families to all Americans by imposing a nationwide 36-percent cap on the annual percentage rate APR for most extensions of consumer credit. To The MLA was enacted on a bipartisan basis in 2006 to rein in payday and other unscrupulous lenders that targeted American troops with abusive and predatory loans. Unfortunately, the MLA does not protect veterans or Gold Star families from these exploitative practices. Our servicemembers and their families should not lose important consumer protections simply because they retire, separate from honorable service, or lose their loved ones. As such, our legislation would extend the MLA's protections to veterans and Gold Star families as well as ensure that all Americans are shielded from predatory loans. Hundreds of millions of American consumers could benefit from a 36- percent APR cap. In States that do not have such a cap, predatory lenders are permitted to offer loans with triple-digit APRs that trap individuals in cycles of debt. For instance, the Consumer Financial Protection Bureau found that 80 percent of payday loans are rolled over or renewed within 2 weeks. This practice can subject borrowers not just to high nominal interest rates but also to high fees that can quickly surpass the amount of money originally borrowed. These are hallmarks of predatory lending and poor underwriting. According to a coalition of community organizations, payday lenders are known to target the most vulnerable, including seniors, veterans, and low-income borrowers. Many in these communities were already struggling to make ends meet before the COVID-19 pandemic, and continuing to pay exorbitant APRs may cause them to fall deeper into economic insecurity. This is why it is important to extend strong protections against unscrupulous lenders to all Americans. The MLA's successful track record demonstrates that providing reasonable, responsible limits on interest rates does not cut off consumers' access to credit. According to a May 2021 report from the Department of Defense, ``credit cards, auto loans, and personal loans are widely available at risk-based rates under the 36 percent [military] APR'' and ``[s]ervice members continue to have ample access to necessary credit.'' Moreover, this legislation would follow the trend in many States towards greater protections against predatory loans. Nineteen States and the District of Columbia have enacted 36 percent APR caps or banned payday loans. Lenders in these States have incentives to offer more affordable loans that borrowers have an ability to repay. The same incentives should apply across the Nation. I thank the 170 consumer advocacy groups, faith-based organizations, veteran service organizations, and trade associations that support this bill, including the Consumer Federation of America, the National Consumer Law Center on behalf of its low-income clients, the Center for Responsible Lending, Americans for Financial Reform, Amalgamated Bank, the Military Officers Association of America, and the National Military Family Association. I urge our colleagues to join us in supporting this important legislation.

Mr. REED

Mr. REED. Madam President, today I am reintroducing the Predatory Lending Elimination Act along with along with Senator Merkley, Senate Banking Committee Chairman Brown, and many of my colleagues. This important legislation would extend the bipartisan Military Lending Act's, MLA, projections for Active-Duty servicemembers and their families to all Americans by imposing a nationwide 36-percent cap on the annual percentage rate APR for most extensions of consumer credit. To The MLA was enacted on a bipartisan basis in 2006 to rein in payday and other unscrupulous lenders that targeted American troops with abusive and predatory loans. Unfortunately, the MLA does not protect veterans or Gold Star families from these exploitative practices. Our servicemembers and their families should not lose important consumer protections simply because they retire, separate from honorable service, or lose their loved ones. As such, our legislation would extend the MLA's protections to veterans and Gold Star families as well as ensure that all Americans are shielded from predatory loans. Hundreds of millions of American consumers could benefit from a 36- percent APR cap. In States that do not have such a cap, predatory lenders are permitted to offer loans with triple-digit APRs that trap individuals in cycles of debt. For instance, the Consumer Financial Protection Bureau found that 80 percent of payday loans are rolled over or renewed within 2 weeks. This practice can subject borrowers not just to high nominal interest rates but also to high fees that can quickly surpass the amount of money originally borrowed. These are hallmarks of predatory lending and poor underwriting. According to a coalition of community organizations, payday lenders are known to target the most vulnerable, including seniors, veterans, and low-income borrowers. Many in these communities were already struggling to make ends meet before the COVID-19 pandemic, and continuing to pay exorbitant APRs may cause them to fall deeper into economic insecurity. This is why it is important to extend strong protections against unscrupulous lenders to all Americans. The MLA's successful track record demonstrates that providing reasonable, responsible limits on interest rates does not cut off consumers' access to credit. According to a May 2021 report from the Department of Defense, ``credit cards, auto loans, and personal loans are widely available at risk-based rates under the 36 percent [military] APR'' and ``[s]ervice members continue to have ample access to necessary credit.'' Moreover, this legislation would follow the trend in many States towards greater protections against predatory loans. Nineteen States and the District of Columbia have enacted 36 percent APR caps or banned payday loans. Lenders in these States have incentives to offer more affordable loans that borrowers have an ability to repay. The same incentives should apply across the Nation. I thank the 170 consumer advocacy groups, faith-based organizations, veteran service organizations, and trade associations that support this bill, including the Consumer Federation of America, the National Consumer Law Center on behalf of its low-income clients, the Center for Responsible Lending, Americans for Financial Reform, Amalgamated Bank, the Military Officers Association of America, and the National Military Family Association. I urge our colleagues to join us in supporting this important legislation.

Mr. REED

Mr. REED. I yield back all remaining time. Vote on Motion to Waive

Mr. REED. Madam President, pursuant to rule XXVIII, paragraph 6, I move to waive all applicable points of order, and I ask for the yeas and nays.

Mr. REED

Mr. REED. Mr. President, for the Committee on Armed Services I report favorably the following nomination lists which were printed in the Records on the dates indicated, and ask unanimous consent, to save the expense of reprinting on the Executive Calendar that these nominations lie at the Secretary's desk for the information of Senators.

Mr. REED

Mr. REED. Madam President, I am pleased to introduce the homebuyers Privacy Protection Act with the Senator from Tennessee, Mr. Hagerty. This bipartisan legislation restricts the use of so-called mortgage ``trigger leads'' and gives prospective home buyers control over their personal credit information. Trigger leads are essentially tips based on information the major credit reporting bureaus sell to mortgage brokers and lenders when the bureaus learn that a consumer has applied for a mortgage with another lender. Each trigger lead they sell can generate dozens of calls and solicitations to the consumer from lenders, ostensibly to provide the consumer with better offers. In fact, one home buyer reported to the Consumer Financial Protection Bureau that they received over 100 calls from other lenders within 2 days of applying for a mortgage. Prospective home buyers who are bombarded by these kind of solicitations typically have no idea their information was sold without their affirmative consent. Buying a home is often the most consequential financial decision a family will make. Getting ``spammed'' with additional offers, after a family has already shopped for a mortgage and chosen a lender, makes this already stressful process even more stressful. It can be very difficult, if not impossible, for a family to sift through dozens of offers over a few days and actually receive better credit. Consumers who are subjected to a deluge of solicitations as the result of a trigger lead are justified in feeling that their privacy has been invaded. Many reputable mortgage companies see it the same way. They support curtailing trigger leads since prospective home buyers often blame their lender for selling off their personal information even though it is the credit bureaus that are providing this information. Unrelenting, aggressive solicitations are more than just a nuisance. Indeed, some companies that buy trigger leads may not use them responsibly and may have poor track records of compliance. In 2018, the Washington Post reported that some mortgage lenders had used trigger leads to misrepresent themselves in calls by suggesting that they are underwriters for the consumer's current lender or by implying that they are calling from a government agency. According to reporting in the Chicago Tribune, unsuspecting home buyers are at risk of inadvertently handing over sensitive personal information, exposing themselves to identity theft. The current system leaves consumers without control of their personal information when they apply for a mortgage. Our bill will fix the current system by significantly restricting the circumstances in which the credit bureaus can sell home buyers' personal information to generate trigger leads. The credit bureaus would be permitted to sell this information only in the limited circumstances when the consumer already has a significant financial relationship with the lending institution seeking the information or when the prospective home buyer has provided affirmative consent to share this information broadly with other lenders. The Homebuyers Privacy Protection Act will go a long way towards securing consumers' personal information and will provide much needed relief from the seemingly never-ending solicitations prospective home buyers receive during an already stressful time. I thank the broad coalition of consumer advocacy groups and trade associations for their support, including the Mortgage Bankers Association, the National Consumer Law Center on behalf of its low- income clients, the National Association of Mortgage Brokers, the Community Home Lenders of America, U.S. PIRG, the Association of Independent Mortgage Experts, the Broker Action Coalition, the American Bankers Association, and the Independent Community Bankers of America. I urge my colleagues to join Senator Hagerty and me in supporting this commonsense, bipartisan bill.

Mr. REED

Mr. REED. Madam President, I am pleased to introduce the homebuyers Privacy Protection Act with the Senator from Tennessee, Mr. Hagerty. This bipartisan legislation restricts the use of so-called mortgage ``trigger leads'' and gives prospective home buyers control over their personal credit information. Trigger leads are essentially tips based on information the major credit reporting bureaus sell to mortgage brokers and lenders when the bureaus learn that a consumer has applied for a mortgage with another lender. Each trigger lead they sell can generate dozens of calls and solicitations to the consumer from lenders, ostensibly to provide the consumer with better offers. In fact, one home buyer reported to the Consumer Financial Protection Bureau that they received over 100 calls from other lenders within 2 days of applying for a mortgage. Prospective home buyers who are bombarded by these kind of solicitations typically have no idea their information was sold without their affirmative consent. Buying a home is often the most consequential financial decision a family will make. Getting ``spammed'' with additional offers, after a family has already shopped for a mortgage and chosen a lender, makes this already stressful process even more stressful. It can be very difficult, if not impossible, for a family to sift through dozens of offers over a few days and actually receive better credit. Consumers who are subjected to a deluge of solicitations as the result of a trigger lead are justified in feeling that their privacy has been invaded. Many reputable mortgage companies see it the same way. They support curtailing trigger leads since prospective home buyers often blame their lender for selling off their personal information even though it is the credit bureaus that are providing this information. Unrelenting, aggressive solicitations are more than just a nuisance. Indeed, some companies that buy trigger leads may not use them responsibly and may have poor track records of compliance. In 2018, the Washington Post reported that some mortgage lenders had used trigger leads to misrepresent themselves in calls by suggesting that they are underwriters for the consumer's current lender or by implying that they are calling from a government agency. According to reporting in the Chicago Tribune, unsuspecting home buyers are at risk of inadvertently handing over sensitive personal information, exposing themselves to identity theft. The current system leaves consumers without control of their personal information when they apply for a mortgage. Our bill will fix the current system by significantly restricting the circumstances in which the credit bureaus can sell home buyers' personal information to generate trigger leads. The credit bureaus would be permitted to sell this information only in the limited circumstances when the consumer already has a significant financial relationship with the lending institution seeking the information or when the prospective home buyer has provided affirmative consent to share this information broadly with other lenders. The Homebuyers Privacy Protection Act will go a long way towards securing consumers' personal information and will provide much needed relief from the seemingly never-ending solicitations prospective home buyers receive during an already stressful time. I thank the broad coalition of consumer advocacy groups and trade associations for their support, including the Mortgage Bankers Association, the National Consumer Law Center on behalf of its low- income clients, the National Association of Mortgage Brokers, the Community Home Lenders of America, U.S. PIRG, the Association of Independent Mortgage Experts, the Broker Action Coalition, the American Bankers Association, and the Independent Community Bankers of America. I urge my colleagues to join Senator Hagerty and me in supporting this commonsense, bipartisan bill.

Mr. REED

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

Mr. REED

Mr. REED. Mr. President, I ask that the Journal of proceedings be approved to date.

Mr. REED

Mr. REED. Mr. President, I call for the regular order with respect to the conference report to accompany H.R. 2670.

Mr. REED. Mr. President, I ask that Senator Ernst be permitted to speak for up to 5 minutes, and that, following the vote on the Ernst motion to table, Senators Hawley and Lujan be permitted to speak for up to 10 minutes each.

Mr. REED

Mr. REED. Mr. President, I move to proceed to legislative session.

Mr. REED

Mr. REED. Mr. President, I ask unanimous consent that when the Senate completes its business today, it stand adjourned until 10 a.m. on Wednesday, December 13; that following the prayer and pledge, the morning hour be deemed expired, the Journal of proceedings be approved to date, the time for the two leaders be reserved for their use later in the day, and morning business be closed; that upon the conclusion of morning business, the Senate resume consideration of the conference report to accompany H.R. 2670 postcloture; further, that all time during adjournment, recess, morning business, and leader remarks count postcloture.

Mr. REED

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

Mr. REED

Mr. REED. Madam President, I have seven requests for committees to meet during today's session of the Senate. They have the approval of the Majority and Minority Leaders. Pursuant to rule XXVI, paragraph 5(a), of the Standing Rules of the Senate, the following committees are authorized to meet during today's session of the Senate: committee on foreign relations The Committee on Foreign Relations is authorized to meet during the session of the Senate on Tuesday, December 12, 2023, at 2:30 p.m., to conduct a classified briefing. committee on health, education, labor, and pensions The Committee on Health, Education, Labor, and Pensions is authorized to meet during the session of the Senate on Tuesday, December 12, 2023, at 10 a.m., to conduct a hearing. committee on the judiciary The Committee on the Judiciary is authorized to meet during the session of the Senate on Tuesday, December 12, 2023, at 10 a.m., to conduct a hearing. committee on rules and administration The Committee on Rules and Administration is authorized to meet during the session of the Senate on Tuesday, December 12, 2023, at 3 p.m., to conduct a hearing. select committee on intelligence The Select Committee on Intelligence is authorized to meet during the session of the Senate on Tuesday, December 12, 2023, at 2:30 p.m., to conduct a closed briefing. subcommittee on public lands, forests, and mining The Subcommittee on Public Lands, Forests, and Mining of the Committee on Energy and Natural Resources is authorized to meet during the session of the Senate on Tuesday, December 12, 2023, at 2:30 p.m., to conduct a hearing. permanent subcommittee on investigations The Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs is authorized to meet during the session of the Senate on Tuesday, December 12, 2023, at 10:15 a.m., to conduct a hearing.

Mr. REED

Mr. REED. Mr. President, I rise to express my support for the fiscal year 2024 National Defense Authorization Act. I am glad that we have just brought the NDAA conference report to the floor. First, I would like to acknowledge Senator Roger Wicker, Chairman Mike Rogers, and Representative Adam Smith, whose partnership has been critical for the success of this bill. The hallmark of the Senate and House Armed Services Committees has long been bipartisanship, and I am glad we have continued that tradition for the 63rd consecutive year. I would also like to thank my colleagues on the Senate and House Armed Services Committees who helped produce this bill, as well as Leader Schumer, Leader McConnell, Speaker Johnson, and Leader Jeffries, who facilitated a thorough debate and enabled all Members to engage in the process. We were able to negotiate hundreds of provisions between both Chambers over the past few months--the most in many years. This is a strong, forward-looking bill that I think we can all be proud of. This NDAA is laser-focused on the threats we face. It addresses a broad range of pressing issues, from strategic competition with China and Russia to countering threats from Iran, North Korea, violent extremists, and climate change. The bill authorizes record level investments in key technologies, like hypersonics and artificial intelligence, and makes real progress toward modernizing our ships, aircraft, and combat vehicles. Most importantly, this NDAA provides a historic level of support for our troops and their families, including the largest pay raise in decades. I am confident it will provide the Department of Defense and our military men and women with the resources they need to meet and overcome the national security threats we face. I would like to take this opportunity, also, to recognize the incredible staff who have made this bill possible. Senator Wicker will, I am sure, speak on behalf of the minority staff in just a moment, but I wanted to specifically recognize the director of the Democratic staff, Elizabeth King, and the director of the Republican staff, John Keast. They did a remarkable job, and they have led their staffs with professionalism and skill. I would also like to thank the members of the Armed Services Committee staff: Jody Bennett, Carolyn Chuhta, Jon Clark, Jenny Davis, Jonathan Epstein, Jorie Feldman, Kevin Gates, Creighton Greene, Gary Leeling, Kirk McConnell, Maggie McNamara Cooper, Bill Monahan, Meredith Werner, Mike Noblet, John Quirk, Andy Scott, Cole Stevens, Isabelle Picciotti, Alison Warner, Leah Brewer, Sean Jones, Joe Gallo, Brittany Amador, Griffin Cannon, Sofia Kamali, Chad Johnson, Julia Coulter, Vannary Kong, Noah Sisk, Zachary Volpe, and, once again, staff director Elizabeth King. That was a long list, but it is a fraction of what they have put into this, in terms of time and effort, and we could not have accomplished this without them. I want to thank the floor staff and the leadership for all they have done to make this possible. Finally, I urge all my colleagues to support this excellent bill. With that, I will yield the floor.

Mr. REED

Mr. REED. Thank you, Senator Murray. Mr. President?

Mr. REED. I would like to be recognized and reserve the right to object.

Mr. REED. Mr. President, just a few minutes ago, my Republican colleagues voted down the National Security and Border Act. In doing so, they essentially said no to supporting Israel, no to supporting Ukraine, no to supporting Taiwan, no to humanitarian assistance, which is absolutely critical, no to rebuilding our defense industrial base, no to border security funding, and no to combating fentanyl. These items are not the partisan demands of any one party; they are bipartisan priorities and necessities. They are the fulfillment of our commitments to our allies and to our national security. I believe the majority of our Republican colleagues do believe this, but some may see this as leverage--as one of my colleagues put it in a discussion, leverage for extreme immigration legislation that they don't at the moment have the votes to pass. In delaying the much needed assistance that I indicated, my Republican colleagues are indirectly, directly, or however you want to put it, giving too many opportunities or at least ideas to people like Putin and Chinese communists and others who are engaged in trying to undermine democracy throughout the world. Speaking for myself, I hope that what we can do is begin a serious debate now--not on the one issue that I listed but on all those issues--and come to a serious, principled compromise so that we can move forward together. It seems that my colleagues on the other side simply want us to accept their version of immigration reform, and then everything else will be OK. It is not that at all. In fact, one of the aspects of the legislation that was just voted down was a significant infusion of resources into the border area--1,300 additional Border Patrol agents, 1,000 law enforcement personnel and investigative capabilities to prevent cartels from moving fentanyl into the country, 1,600 additional asylum officers, funding to conduct robust child labor investigations and enforcement to protect vulnerable migrant children entering the United States through the southern border, and the bipartisan FEND Off Fentanyl Act, led by our colleague, Senator Tim Scott of South Carolina. My colleagues just voted against a series of important ways to fix our problems at the border. We need them desperately, and we could have gotten them if we had moved forward procedurally. I have been here for a couple of years, and I have seen several occasions where we have been together on a bipartisan basis. I know in 2013, led by Senator McCain and others, we passed comprehensive immigration reform, only to see it set aside by the Republican House of Representatives at the time. So we, I think, have to do much more, and we can, but it will be on a bipartisan, cooperative basis. We have to do much more to help not just Israel-- it is critical--but also Ukraine. It has been a long time since we have had their funding request--August of this year. They made a serious request for additional resources, anticipating the attrition they would suffer over the intervening months, long before the October 7 tragedy. It has been more than 2 months since President Zelenskyy was here in person asking us all personally for the help he needed to lead his country forward. It was at that time that Senator McConnell correctly and sincerely indicated, in his words, ``American support for Ukraine is not charity. It is in our own direct interests, not least because degrading Russia helps to deter China.'' But the foot-dragging has continued since then. Ukraine cannot wait. The OMB Director wrote earlier this week: [W]ithout congressional action, by the end of the year we will run out of resources to produce more weapons and equipment for Ukraine and to provide equipment from U.S. military stocks. There is no magical pot of funding available to meet this moment. We are out of money--and nearly out of time. So without our help, the Ukrainian people will be in a very desperate situation. We need to help them. We need to help our allies in Israel. We need to help those in Taiwan, and we need to help the innocent victims of conflict throughout the world. So this one-shot deal doesn't cut it. We have to come together, work together, and deliver assistance to Ukraine, to Israel, to Taiwan, humanitarian aid, and aid for our borders. With that, I will yield to Senator Klobuchar.

Mr. REED

Mr. REED. Mr. President, I am rejoicing in the orders that Senator Schumer read. The first thing I would like to do is apologize to the hundreds of officers--men and women who dedicated themselves to their country--and also to their families for this unusual, shall we say, disruption of their promotions to ranks they have won through their merit and effort. I think also, too, that it is important to note the contribution of Senator Sullivan and Senator Ernst and Senator Young and Senator Graham and others. They recognized that military officers are not political pawns; that they are men and women who have dedicated themselves and their families to service, to protect the Constitution of the United States. So they joined in to ensure that, today, we could have these much delayed promotions on the floor of the U.S. Senate. Once again, Mr. President, we have to recognize, in the future, we can never do this again; that these men and women served their lives, decades; they served with courage; they served with integrity; they have served with decency. They do it for this country--not for a political party, not for a cause or a popular emotion. They do it to defend their country. And they are aided every step of the way by their families, by their spouses, by their children. In fact, these spouses and children make as many, if not more, sacrifices than the soldiers, sailors, airmen, marines, and guardsmen themselves, in my view. But let us commit that, as we go forward, we shall not view a soldier in the context of a political dynamic but in the context of his or her quality of service, her integrity, her decency, and--above all--their not only solemn obligation but complete life of preserving and defending the Constitution of the United States. I yield the floor.