Chuck Schumer

Mr. SCHUMER

Mr. SCHUMER. Mr. President, in America, when it is time to pay the bills, we do so without fail and without delay. That is what families must do, and that is what our government must do. It is one of the bedrock principles of this country--one that holds true no matter who is in the White House and which party holds majorities in Congress. Not even during the Trump administration was this solemn duty neglected even if many MAGA Republicans may feel differently today. When I was minority leader here in the Senate, I sat down with President Trump to find a path to raise the debt ceiling multiple times. We didn't engage in hostage-taking. We didn't resort to blackmail or brinksmanship. By no means was it easy, and many on the other side didn't want to go along, but Democrats worked constructively with the Trump administration to get it done, and it happened three times. The same thing must happen again this year--no brinksmanship, no hostage-taking, no default on the national debt. Congress must raise the debt ceiling on a bipartisan basis without the hostage-taking, without the brinksmanship. So I was very glad to hear President Biden reaffirm this truth after his meeting with Speaker McCarthy. He reiterated we ought to pass a clean debt ceiling extension. President Biden is correct--the American people expect us to do the right thing in the coming months because if we default on the debt, every single American is going to pay the price. Later this morning, I will join with some of my Democratic colleagues to put a spotlight on the consequences of default because they are not remotely theoretical or abstract. The debt ceiling is not just an abstract exercise somewhere up there in the clouds. If we fail to renew it, it is going to affect every American family's pocketbook or wallet, with many, many dollars taken away. A default on debt would create a crisis unlike any we have ever seen in our country. Mortgages, car loans, and credit card rates all will go shooting up. American families with adjustable rate mortgages or who are seeking to buy a house will pay thousands of dollars more each year--what a terrible nightmare at a time when costs are already too high in housing and everywhere else. But just as terrible as that sounds, this is only the tip of the iceberg. If the U.S. defaults, retirement savings--the money that people have scrapped away, put away, so they might live in dignity toward the end of their lives--will be utterly devastated. By one measure, the typical retirement account could lose $20,000 in value--$20,000. We are talking about people's livelihoods, money that people have set aside little by little every month so they can reach retirement with some degree of dignity. A default would rob Americans of that, and the devastation would go on and on and on. Social Security would suffer. Medicare would suffer. Over 18 million veterans could lose their hard-earned benefits, like disability compensation. America's reputation on the world stage would be permanently stained, and few things would hand the world over to the Chinese Communist Party more than a first-ever default by the United States of America. So the bottom line is simple: Playing games with the debt ceiling is dangerous, destabilizing, and would spell disaster for every single American--dangerous, destabilizing, disaster. The last thing we should be doing in Congress is using the debt ceiling as a political bargaining chip. Instead, we need to come together and make sure the United States is able to pay its debts on time--without brinksmanship, without hostage-taking--just as we have done throughout our history.

Mr. SCHUMER

Mr. SCHUMER. Now on Chile and the treaty, for more than a decade, Congress has been working on an important tax treaty with Chile that holds important and long-term consequences for American businesses and American competitiveness on the world stage. Right now, nations around the world are racing to source important materials like lithium. Lithium is a key ingredient in everything from iPhones to EV batteries. Chile is one of the most important sources of these kinds of raw minerals, including lithium, and many U.S. companies have spent years building business partnerships with Chile and have grown their presence in that nation. But these companies face a terrible problem. Because of current policy, American companies face double taxation due in Chile and are at a huge disadvantage compared to other nations like China. We don't want China to get this lithium. We need it. So we have a taxation treaty at the ready that would remove this obstacle. It is very similar to the more than 60 other treaties we already have with nations around the world. This is nothing new. It is wildly supported by voices across the political spectrum--the Biden administration, on one hand, but the pro-business Chamber of Commerce, on the other. Here is the amazing thing. The U.S.-Chile treaty was already reported out of committee last year. It had, I believe--I am not certain of this, but I think it was passed by voice vote, meaning unanimous support. It had overwhelming support. Unfortunately, it has to go through committee again because of the new Congress, but Democrats are 100 percent ready and eager to get this important treaty moving. Republicans in the past always have long supported moving it forward too, and I imagine most do. But, right now, this treaty has been delayed yet again because some want to add last-minute changes to the text that risk undermining it altogether. Again, there are some who want to introduce last-minute changes to the treaty, even though this was reported by voice vote out of committee last year, was nearly added to our end-of-year accomplishments alongside the omnibus, and has been around for close to 10 years. Let me be clear. These last-minute changes could delay or even end any chance of getting this treaty done. It at least could force us to renegotiate with other governments, and you know what a long, time- consuming, difficult, fraught-with-peril process that is. We should move forward and ratify this treaty with the agreed-upon text without last-minute changes. The effort has been more than a decade in the works. It is time to finish the job. Again, if we want to give China advantage to get Chilean lithium, instead of giving it to the United States, where we so desperately need it, that would be a disgrace and a shame. Moving this treaty quickly, without any last-minute changes, is the way to solve that problem. So, please, let's move forward. Both sides should come together to move forward quickly and without any more delay. It is long enough.

Mr. SCHUMER

Mr. SCHUMER. Finally, Mr. President, quickly, on the Strategic Petroleum Reserve, last month, the House passed a bill to prohibit the sale of oil from the Nation's Strategic Petroleum Reserve to China. I have seen the proposal, but here is my question: Why stop at China? What about Russia, North Korea, Iran? If we are going to do this, why not do it right and see if we can add a few more countries to the list? It is certainly worth taking a look at. So that is what we are doing. We are going to take a look at this proposal and, hopefully, find ways to make it stronger. I yield the floor. I suggest the absence of a quorum.

Mr. SCHUMER

Mr. SCHUMER. Now, Mr. President, on Big Oil profits, last year, while soaring gas prices stretched the budgets of American families, Big Oil enjoyed a record--a record--year of profits. There were huge amounts of money made by these companies. Earlier this week, Exxon reported a $56 billion--billion--net profit in 2022, setting a record high not just for Exxon but for Big Oil as an industry. And Exxon wasn't alone-- Chevron reported $35 billion. While Americans were feeling the pain at the pump--driving their cars up to the gas stations and wondering how high it was going to be--the five top big oil companies brought in a record of nearly $200 billion in total profits in 2022, taking advantage of what they called ``favorable market'' conditions. It is nothing short of repugnant for the biggest oil companies in America to celebrate dizzying profit margins that they earned by jacking up gas prices on hard-working Americans. And what did the oil companies do with this tsunami of cash? They could have prioritized it by paying their workers better, but they did not. They could have made transformative investments in new clean tech and helped push the frontier in clean energy, which we all know is coming, but they did not. Maybe, best of all, they could have lowered gas prices, but they did not. Do you know what the oil companies did? This is just as galling--galling. They rewarded shareholders by implementing stock buybacks at near record levels. Buybacks do no good for the economy. They don't help the worker. They don't help the consumer. They don't move us along to green energy. They don't even produce more oil. All they do is line the pockets of the already uberwealthy executives and shareholders. Here is one example: Exxon announced they plan to spend $35 billion-- $35 billion--on stock buybacks in the next 2 years, which is more than double their plans to invest in clean energy over the next 5 years. I want to say that again. For anyone who doesn't think corporate America is out of control and does whatever it wants and thumbs its nose at the needs of the globe or the workers or the citizens, Exxon announced they plan to spend $35 billion on stock buybacks in the next 2 years--more than double their plans to invest in clean energy over the next 5 years. That is where Exxon's priorities are. So Big Oil executives may claim they are good stewards or that they understand the climate crisis, but when it comes time to put their money where their mouth is, their actions tell a different story. We must continue to take on entrenched oil interests, just as we did last year when we passed the Inflation Reduction Act. Doing so will have a tremendous benefit for our economy, for our environment, and for American families everywhere. We Democrats will continue to make one thing clear: If oil companies are going to make record profits, they must do it not by manipulating prices to take advantage of hard-working Americans.

Mr. SCHUMER

Mr. SCHUMER. Madam President, I ask unanimous consent that the Senate proceed to legislative session for a period of morning business, with Senators permitted to speak therein for up to 10 minutes each.

Mr. SCHUMER

Mr. SCHUMER. Madam President, I have two 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:

Mr. SCHUMER

Mr. SCHUMER. Madam President, I ask unanimous consent that the Senate proceed to the consideration of H. Con. Res. 11, which was received from the House and is at the desk.

Mr. SCHUMER

Mr. SCHUMER. I ask unanimous consent that the resolutions be agreed to en bloc and the motions to reconsider be considered made and laid upon the table en bloc with no intervening action or debate.

Mr. SCHUMER. Just for the notice of the Members of the Senate and the country, we have now constituted the membership of the committees, and they will be able to proceed to meet as in regular order.

Mr. SCHUMER

Mr. SCHUMER. Now, Madam President, I understand there is a bill at the desk and I ask for its first reading.

Mr. SCHUMER. I now ask for a second reading, and in order to place the bill on the calendar, under the provisions of rule XIV, I object to my own request.

Mr. SCHUMER

Mr. SCHUMER. Madam President, I ask unanimous consent that the Presiding Officer of the Senate be authorized to appoint a committee on the part of the Senate to join with a like committee on the part of the House of Representatives to escort the President of the United States into the House Chamber for the joint session to be held at 9 p.m. on Tuesday, February 7, 2023.

Mr. SCHUMER

Mr. SCHUMER. Madam President, I ask unanimous consent that when the Senate completes its business today, it stand adjourned until 11 a.m. on Friday, February 3, for a pro forma session only with no business conducted; that following the pro forma session, the Senate stand adjourned until 3 p.m. on Tuesday, February 7; further, 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; and that following the conclusion of morning business, the Senate proceed to executive session and resume consideration of the Benjamin nomination; finally, that the cloture motion filed during today's session ripen at 5:30 p.m. on Tuesday, February 7.

Mr. SCHUMER

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

Mr. SCHUMER

Mr. SCHUMER. Mr. President, I understand that there is a bill at the desk that is due for a second reading.

Mr. SCHUMER. In order to place the bill on the calendar, under the provisions of rule XIV, I would object to further proceeding.

Mr. SCHUMER

Mr. SCHUMER. Mr. President, House Republicans are struggling-- struggling--to grasp a harsh reality about being in the majority. There is no good substitute for having a plan. You can't solve the Nation's biggest problems without a plan--a plan we can debate in Congress and which the American people can judge for themselves. This is especially true--especially true--when it comes to the debt ceiling. Later this afternoon, President Biden will meet with Speaker McCarthy for their first one-on-one meeting of the year, and everyone is asking the same question of Speaker McCarthy: What is your plan? Where is your plan, Republicans? Where is your plan, Speaker McCarthy? For days, Speaker McCarthy has heralded this sit-down as some kind of major win in his debt ceiling talks, but Speaker McCarthy is forgetting something obvious to everyone else: If you don't have a plan, you can't seriously pretend you are having any real negotiation. Let me say that again because it is so crystal clear. Speaker McCarthy, if you don't have a plan, you can't seriously pretend you are having any real negotiation. Speaker McCarthy showing up at the White House without a plan is like sitting down at the table without cards in your hand. And look, we know why the Speaker has struggled and is unable to produce a plan or why he is delaying it or avoiding it. He doesn't have the votes for one, in all likelihood. Some Senate Republicans want Social Security and Medicare cuts. Others want to cut the healthcare that Americans depend on through Medicaid. And at least one Republican said on raising the debt ceiling: I am a ``no'' no matter what. Speaker McCarthy knows that it is next to impossible to pass a plan through his own House--that he can't do that. So Speaker McCarthy may claim he wants to negotiate, but that is, ultimately, empty talk if the hard right has the power to reject whatever the Speaker proposes. It is a toxic dynamic that, sadly, isn't going away any time soon. When President Trump was in office, I sat down with him to talk about the importance of raising the debt ceiling, and we didn't engage in threats or brinksmanship or hostage-taking. Instead, we Democrats presented a plan and moved forward from there. It was not easy. It took a lot of preparation and tough decision making, but, each time, we got the job done. So one more time, House Republicans, show us your plan. You have an obligation to be transparent with the American people. If you don't have the votes to pass a plan, let's just get the debt ceiling done. If the plan involves drastic cuts to millions of Americans, then Republicans have an obligation to show the American people what those cuts are because Americans could be faced with the very painful, painful results of those proposed cuts. Republicans owe it--owe it--to the American people. Speaker McCarthy owes it to the American people to stop dodging, to put pen to paper, and to explain clearly how Congress is going to ensure the United States does not default for the first time in history. We Democrats have a plan: Raise the debt ceiling without brinksmanship or hostage- taking, as it has been done before. Speaker McCarthy doesn't have a plan, so he is not really negotiating, and the clock is ticking.

Mr. SCHUMER

Mr. SCHUMER. Mr. President, first, there is a little housekeeping, and then I will give my remarks.

Mr. SCHUMER

Mr. SCHUMER. Mr. President, finally, on election undermining by the Republican National Committee, one of the biggest lessons of last November was that, for all of the attempts by MAGA Republicans to undermine our elections, the roots of our democracy remain strong and run deep. For 2 years, we heard the same thing over and over again from the MAGA brigade: that the 2020 elections were stolen, that President Biden was illegitimate, and that we couldn't trust that our votes were properly counted. Well, Americans simply didn't buy it. They saw that the elections were fair. Some have said these were the fairest elections we have ever had. Yet, in every virtual race last fall, MAGA candidates who campaigned explicitly on denying the results of the 2020 election and overturning it were rejected by the voters. It was a good result for the country, for our democracy. Frankly, it was a necessary wake-up call for the GOP, telling them: Get rid of the Big Lie once and for all. The American people aren't buying it. Maybe a small band of extreme rightwingers is--MAGA people--but not everybody else. It was so disturbing to read in the Washington Post that the RNC is not abandoning the conspiracy of the Big Lie so much as it is doubling down. According to reports, they are working on creating a ``permanent infrastructure in every state to ramp up `election integrity' activities'' as a way to cater to that portion of their base that still believes in wacky election fraud conspiracies. As a sign of how unserious this report is, the RNC also makes unfounded claims of a ``continuing onslaught of Democrat election manipulation.'' I would call it ridiculous--it is ridiculous--but it is a troubling attempt to undermine our democracy. When people don't believe the elections are on the level, that is the beginning of the end of this grand experiment in democracy that has lasted for centuries. Fortunately, the American people are rejecting it, but the Republicans that lead the MAGA wing are keeping at it. I will make this easy for the folks over at the RNC: Undermining our elections is a losing strategy. It is a loser politically. It didn't work last year, and it is not going to work next year. For the sake of our country and the sake of the GOP, the RNC and the MAGA wing of the Republican Party need to break the election fraud echo chamber that has paralyzed their party and has, frankly, caused them to lose election after election.

Mr. SCHUMER

Mr. SCHUMER. Finally, yesterday, Mr. President, was a very special day for the people of New York. After a lot of hard work, we finally welcomed President Biden to celebrate progress on Gateway, the most important infrastructure project in America. Anyone who knows me knows Gateway has been one of my greatest passions for more than a decade. Call it a labor of love--and it is-- because I love New York. Without our tunnels, the region's economy would come to a screeching halt, and not just New York's, not just New Jersey's but the whole Northeast and eventually the whole country's. So after many false starts and a lot of opposition, Gateway is finally full speed ahead, thanks to both the bipartisan infrastructure law and the great help and enthusiasm from President Biden. We had a good time yesterday--the President, I, and the other Senators--because we knew we were getting something so important done. And that is why we are here. The implementation of the bills we passed last year is really vital to this country and to keeping our prosperity going and increasing. There were a lot of smiles at yesterday's celebration. Many of us waited for years for this moment, and after a lot of persistence, we can finally say Gateway is going to be built. Gateway is just one of the major infrastructure initiatives supported by the bipartisan infrastructure law. Just like the CHIPS and Science Act and the Inflation Reduction Act, it is beginning to pay real dividends in the form of new jobs, new investments, and prosperity. We are going to see much more of it this year and the years to come. That is precisely what Democrats promised to do, and that is what we are delivering on. I thank the President for helping us and celebrating with us yesterday in New York. I yield the floor.

Mr. SCHUMER

Mr. SCHUMER. Mr. President, on the ERA, which is a different and extremely important matter, I want to praise and echo the words of my colleagues yesterday who reintroduced a resolution to affirm the ratification of the Equal Rights Amendment. The resolution is simple. It removes the arbitrary deadline for ERA ratification that was placed by Congress in the 1970s and recognizes the amendment as a valid part of the Constitution. There is no good reason why a constitutional amendment needs a deadline, especially not an amendment that affirms gender equality. The Equal Rights Amendment has never been as necessary and urgent as it is today. The Supreme Court's repeal of Roe v. Wade reminded all of us that, even today--in 2023, the 21st century--women don't have the same fundamental rights as men. So this resolution is a terrific and necessary idea. The ERA has been ratified by three-quarters of the States but not in the requisite time, and that is what this proposal would fix. It is very popular in the minds of the American people, and I strongly support the resolution. I want my daughters and granddaughter to live in a country where they never have to worry about being discriminated against simply because of their gender. Sadly, today, that is not the case. The ERA would fix that. So I want to thank Senators Cardin and Durbin, Representatives Pressley, Dean, and Bush, and everyone who is championing this important resolution.

Mr. SCHUMER

Mr. SCHUMER. For the information of the Senate, no rollcall votes are expected during Tuesday's session.

Mr. SCHUMER

Mr. SCHUMER. If there is no further business to come before the Senate, I ask unanimous consent that it stand adjourned under the previous order, following the remarks of Senator Scott of South Carolina.

Mr. SCHUMER

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

Mr. SCHUMER

Mr. SCHUMER. First, Madam President, we will do a little housekeeping, and then I will give my remarks.