Pete Sessions

Mr. SESSIONS

Mr. SESSIONS. Mr. Chairman, I yield myself such time as I may consume. I want to first thank, if I can, the author of this piece of legislation, the gentleman from Kentucky, Geoff Davis. Mr. Davis has distinguished himself among, not only our colleagues, but also, I believe, his strong support of free enterprise and the people of Kentucky in doing his job, and I appreciate the opportunity to be here to help in that endeavor today. I believe that excessive government regulations are a significant barrier to the creation of private sector jobs in America today. This Congress has made job creation a priority. As a matter of fact, we had the minority leader down talking just a few minutes ago about job creation and the priority that it needs to represent. And as a result, we must review regulations which stand in the way of not only having more jobs, but also the overuse of rules and regulations that prohibit and add to jobs and job creation. That proposal that I believe we need to look at is whether the benefits outweigh any potential economic harm that might come. My amendment requires the agencies submitting the report on a proposal Federal rule to include an assessment of anticipated jobs gained or lost as a result of its implementation and to specify whether those jobs will come from the public or the private sector. This assessment would be part of the cost benefit analysis. It would be required to be submitted to the Comptroller General and made available to each Member of the House prior to our consideration of the rule. I believe that what we are doing here today is positive, not only a benefit to the country in terms of recognizing that rules and regulations are burdening our economic engine, but also we are doing something about it here today, and I'm very, very proud to be here in support of this. Earlier this year, I introduced House Resolution 72, and the House passed it with a strong bipartisan vote in February. My bill required authorizing committees in the House to review existing, pending, and proposed regulations through hearings this year and to report back to the House with their findings. The REINS Act today before us is an extension, I believe, of H. Res. 72 and is an important measure to ensure that the government does not compete against the free enterprise system. And if it does, Congress should understand that at the time that we pass our laws. Mr. Chairman, I ask my colleagues to support this important addition. I reserve the balance of my time.

Mr. SESSIONS. Mr. Chairman, I yield 1 minute to the gentleman from Texas (Mr. Smith).

Mr. SESSIONS. Mr. Chairman, I yield myself the balance of my time. I believe that the case which we're bringing forth today to Congress is that we believe that jobs should be priority number one for this United States Congress and for the American people--not just the middle class, but investors and people who want to have great jobs in this country, for us to be competitive with the world. For us to do that, we need to recognize that people in Washington, D.C., who probably wouldn't recognize the free enterprise system if they saw it put rules and regulations on people; they don't understand the business; they don't understand how they operate; and they sure as heck don't understand why it's important to have a free enterprise system, one which is nimble and prepared and ready for competition. I spent 16 years without missing a day of work in the private sector prior to coming to Congress. During those 16 years, I learned firsthand about how rules and regulations by the Federal Government and others can impede not only us and our ability to add jobs but perhaps more importantly, for us to be competitive. And I want to know today those people who will support us making sure that we look at a rule and regulation and understand what the impact on jobs would be. That's what this vote will be. All Members will have an opportunity to come down to say, We think that there should be a consideration or should not be a consideration, at the time a rule will be written by an agency, what will be the impact of that rule. It would elude me to understand why someone would not want to include that as part of a cost benefit analysis. Thus, Mr. Chairman, I rest my case. I yield back the balance of my time.

Mr. SESSIONS

Mr. SESSIONS. Madam Speaker, earlier this week the federal budget eclipsed 15 trillion dollars. The passing of this milestone underscores the real, substantive need to address our ballooning debt crisis. It is past time for Congress to take action and put this nation on a path to fiscal responsibility. That is why today I will vote in favor of a balanced budget amendment to the United States constitution. Madam Speaker, this country has a spending problem and a balanced budget amendment is the only permanent fix to ensure that we stop burdening our children and grandchildren with a debt they cannot afford. Last year alone, the United States ran a 1.3 trillion dollar budget deficit. That means we spent 1.3 trillion dollars that we do not have. Under this balanced budget amendment, Congress would be forced to live within its means and balance our checkbook, just like millions of Americans across this country. I urge my colleagues to help ensure that America's best days lie in its future and join me in passing this balanced budget amendment.

Mr. SESSIONS

Mr. SESSIONS. Mr. Speaker, I rise today to recognize the Texas Rangers Faces of Freedom Veteran Honorees for their dedicated service to this great Nation. The Texas Rangers Faces of Freedom program is an initiative sponsored by the Texas Rangers baseball club and Southwest Airlines to honor the extraordinary service of current and former members of our Nation's Armed Forces. Throughout the baseball season, family, friends and members of the military nominated individuals who have shown tremendous strength, courage, and patriotism in the line of duty. These honorees have served in wars ranging from World War II to the present day conflicts in Iraq and Afghanistan. Many of these men and women braved horrible situations and suffered severe injuries to save their fellow soldiers. Among the group are several Bronze Star recipients, Purple Heart recipients, Commendation Medal recipients, a married couple who served significant tours in Iraq and Afghanistan, and many more extraordinary individuals who have selflessly served our Nation with distinct pride and courage. On November 10, 2011, my office had the distinct pleasure of welcoming these brave men and women to our Nation's Capitol. Their sense of patriotism and good humor are a testament to the greatest our country has to offer. Mr. Speaker, I ask my esteemed colleagues to join me in expressing our heartfelt gratitude and praise for the Faces of Freedom Veterans, and thank them for their extraordinary service to our Nation.

Mr. SESSIONS

Mr. SESSIONS. Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 453 and ask for its immediate consideration.

Mr. SESSIONS. Mr. Speaker, thank you very much. At this time, I would like to extend to the gentleman from California 5 minutes.

Mr. SESSIONS. Mr. Speaker, for the purpose of debate only, I yield the customary 30 minutes to my friend, the gentleman from Colorado (Mr. Polis), a brand-new father who today presents himself on the floor as we work together, pending which I yield myself such time as I may consume. During consideration of this resolution, all time yielded is for the purpose of debate only. General Leave

Mr. SESSIONS. Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days to revise and extend their remarks.

Mr. SESSIONS. House Resolution 453 provides for a structured rule for the consideration of H.R. 2930 and H.R. 2940. This rule allows for all seven amendments submitted to the Rules Committee by Democrats and Republicans to be made in order. Mr. Speaker, I rise today in support of this rule and the underlying bills. H.R. 2930, the Entrepreneur Access to Capital Act, was introduced on September 14, 2011, by my friend, the gentleman from North Carolina, Mr. Pat McHenry, and was reported by the Committee on Financial Services by a voice vote last week. The second bill, H.R. 2940, the Access to Capital for Job Creators Act, was introduced by the Republican majority whip, the gentleman from California (Mr. McCarthy), and also passed the Committee on Financial Services by a voice vote last week. Both pieces of legislation have been through regular order. Members from both sides of the aisle have had opportunities to submit perfecting ideas, and those amendments have been carefully considered. Every amendment that was submitted to the Rules Committee was made in order and will be given full and fair consideration today. The chairman of the Rules Committee, the gentleman from California (Mr. Dreier), has once again allowed the House to work its will through an inclusive legislative process. On December 10, 2009, I stood on the floor, and I argued then against the rule for consideration of the bill known as the Dodd-Frank financial reform bill. It should be noted that I authored two proposals amongst many Republican and Democratic amendments that were all shut out that day. Then-Speaker Nancy Pelosi chose to advance the Dodd-Frank bill without any open process consideration. The result of that legislation has caused great concern in financial markets not just here in the United States, but it has caused financial concern around the world. Today the Republican House is changing that course in consideration of bills from the Financial Services Committee. Today we are looking at a targeted removal of outdated regulations simply to encourage market access for millions of small businesses and to encourage not only investment but also jobs in America. For those who are listening to this, you could consider this a jobs creation bill. So I would advance this cause down the street to the White House to encourage the President to know that this is yet another in a line of job-creating, job-saving, jobs-in-America bills that the U.S. House of Representatives is once again considering, and today, on a bipartisan basis, with every single amendment that was submitted to the Rules Committee through an open process on the floor of the House of Representatives, ready for us to move this bill and vote on that today. Mr. Speaker, our economy has a revenue problem. The administration continues to promote policies that slow economic growth. Republicans believe we must create an environment that encourages investment in small business, really the engine of our national job creators. This underlying bill will do just that. H.R. 2930 would remove restrictions on crowdfunding, allowing companies to pool small investors so that small businesses and entrepreneurs can raise capital equity. Outdated SEC regulations do not allow business owners in search of investments to solicit or to advertise. This legislation is needed and it's being presented on a bipartisan agreement basis. Yesterday, I met with community bankers from Texas--Scott Heitkamp, the president of Value Bank; John Jay, the president of Roscoe State Bank; and Milton McGee, with the Independent Bankers of Texas, among others, who described to me their inability to raise capital investment, not due to a lack of willing investors, but as a result of burdensome regulations which inhibit or do not allow this. They informed me that the SEC limit on individual investors restricts their ability to raise funds through community participation and local business creation. I was proud to tell them and I will tell them again today, I heard your story and we are here on the floor doing something about that that will be of immediate benefit and health to jobs and job creation in America today on the floor of the House of Representatives in a bipartisan agreement fashion. H.R. 2940 allows for general solicitation and advertising which would attract private investment. Small, privately held companies will no longer be forced to have an existing relationship with potential investors. However, the legislation requires the SEC to ensure that investors are accredited. As Congressman Jared Polis from Colorado, the lead today from the Rules Committee on behalf of the minority, indicated at the Rules Committee meeting yesterday that ``crowdsourcing'' investment through new advertising mediums, such as social media, would allow for access to new pools of available capital. These are exactly the kinds of ideas that are being brought today to the floor for the creation of investment dollars to help jobs in America and to make sure that we are prepared for our future. Our Nation is in crisis. We cannot wait. And with an unemployment population of over 14 million people, we cannot continue the failed policies of government spending which have brought us to this point. Investment capital for small business continues to sit on the sidelines because of the uncertainty created by burdensome regulations and outdated rules. The underlying bills will foster job creation by simply allowing the private sector to participate in this endeavor. The future success of our economy rests in the hands of private small business, not government. Unleashing their potential is the sole focus of this Republican majority in the U.S. House of Representatives. The result is an economic environment that promotes growth and generates revenue as well as the creation of jobs in America. I urge my colleagues to vote for this fair rule that allows consideration of all requested amendments and to vote for the underlying bills. Mr. Speaker, I reserve the balance of my time.

Mr. SESSIONS. Mr. Speaker, I yield 10 minutes to the gentleman from California (Mr. Dreier), chairman of the Rules Committee. (Mr. DREIER asked and was given permission to revise and extend his remarks.)

Mr. SESSIONS. Mr. Speaker, I yield 4 minutes to the gentlewoman from Illinois (Mrs. Biggert), chairman of the Insurance, Housing and Community Opportunity Subcommittee.

Mr. SESSIONS. Mr. Speaker, I yield myself such time as I may consume. We're here talking about capital formation. We're here talking about entrepreneurial spirit, catching up with ideas to go to make job creation, and then for the jobs to be here in America. That's what this bill is about today. It is about a bipartisan attempt, Republicans and Democrats working together, through regular order, to the Rules Committee, all seven amendments--Republicans and Democrats--that were submitted coming to the floor today, and us working these few hours, a chance for, I think, not only Members of Congress to effectively present their ideas and do the will of the people, but for us, perhaps more importantly, to work together to find common ground on important issues that will aid and help Americans have sounder financial footing. That's what this bill's about today. I know there are other bills that people want to debate and want to bring to the floor. I felt that way for 4 years when the other side was, in fact, in control. But job creation through capital investment, through the formation, is what this bill's about. I'm very proud of what we're doing here on the floor today. I reserve the balance of my time.

Mr. SESSIONS. Mr. Speaker, I yield myself such time as I may consume. Regarding what is on the floor today, it is important that we recognize it is a continuing trend for job growth, job creation on not just a net basis, but on a positive basis without the loss of jobs. The Federal Government creates an average of 4,000 final rules and regulations each year, and that is what inhibits job growth. That's what the prior two Congresses have been about--massive rules and regulations, not the empowerment of the free enterprise system. We need to remember that what we are here for is to work in the best interest of making a future brighter and better for those who are with us today and those who are behind us for their future. And that's why job creation, investment, and capital formation is important. I reserve the balance of my time

Mr. SESSIONS. I continue to reserve the balance of my time.

Mr. SESSIONS. Mr. Speaker, I would like to advise the gentleman from Colorado that I have no additional speakers other than myself, and I reserve the balance of my time to close.

Mr. SESSIONS. Mr. Speaker, I yield myself such time as I may consume. Congress has an opportunity today to unleash investors in American business for the benefit of capital formation in America for American companies and jobs. Additionally, we have an opportunity because we have worked so well together. There is joint agreement to ensure the safety and soundness of financial institutions in the United States with this legislation. Reforms to company-investor relations are long overdue, long overdue that would reform the industry to make them better, stronger--to add jobs, may I add. Congress should be doing everything we can do to help economic growth and development, to jump-start the free enterprise system and put Americans back to work. That happens through capital formation. Growing our economy and slowing Federal spending will be the best way to get this government back and the economy back on track and getting out of the rising debt and deficit that is facing this great Nation. The underlying bills provide necessary steps today for doing just that. So I applaud my colleagues, Mr. McHenry and Mr. McCarthy, for introducing the bills that we're discussing here today. In particular, I'm proud of my committee, the committee I've served on for 14 years, the Rules Committee, under the leadership of the gentleman from California, Dave Dreier, for making sure that this bill--the power for investment, capital formation, jobs--also included ideas, ideas from both sides of the aisle, which equally, if submitted, were given not only consideration but the green light to come to the floor today to make sure that what we did, we did together; to make sure that we speak with a voice that's very powerful about the need for us to ensure that America's greatest days lie in our future through the free enterprise system. I'm proud of what we have done here today. I reserve the balance of my time.

Mr. SESSIONS. I continue to reserve the balance of my time.

Mr. SESSIONS. Mr. Speaker, it's a rare day when members of the Rules Committee from opposing parties have a chance to do so well with each other on the floor. Once again, I'd like to congratulate the gentleman from Colorado on being a new father. We celebrated this with the pictures at the Rules Committee just yesterday. I encourage a ``yes'' vote on the rule.

Mr. SESSIONS. I yield back the balance of my time, and I move the previous question on the resolution.

Mr. SESSIONS

Mr. SESSIONS. Mr. Chairman, I want to thank you today for your strong leadership and the leadership of other members of this conference for bringing forth a discussion about a balanced budget for the United States of America. In fact, the United States Congress has brought up this issue before, and it has been debated and discussed obviously since not just the time of the signing of the Declaration of Independence, but for many, many years afterwards. Mr. Speaker, I would say to you today that every single Member of this body should recognize the times that we live in are unlike any that this great Nation has ever seen. We find that we are in the midst of a threat of outside forces against the United States. We find ourselves in a time of war. We find ourselves in a time when we have political unrest with thousands of people encamped in our cities who are displeased with the direction that this country is going. We have millions of people, some 14 million people who are unemployed in America, some 6 million who are underemployed in this country. We've seen out-of-control spending that has taken place from a Federal Government that is not accountable. They tax too much, they spend too much, and they listen too little. We have leaders of this country who are not honest in speaking to the American people about not only the truths of each party and what they stand for, but who I believe mislead others about the things for which they stand for themselves. We find ourselves at a time in this country where we are faced with a $14 trillion debt that is growing every single day. In fact, if any American looks at the debt clock, they will see that it's spinning wildly out of control. Mr. Speaker, I did not come to this body, nor probably did others, to think that they would be here to manage our demise. We come to Washington full of hope and opportunity, with the expectations to further the dreams of the American people, to further dreams for an experience that would allow us to enrich our lives but also to leave that that would be the best for the next generation. As an Eagle Scout I grew up scouting and understanding that you should always leave your circumstances better than what you found it. Now, I'm well aware that the President of the United States, President Obama, keeps talking about that this is a vision that he has about a direction, but there is no end in sight to the damage and harm, the carnage that is being laid to this country as a result of economic demise. But what I would say, Mr. Speaker, is there are others who have traveled down this road ahead of us, and we are watching them today and we've been watching them for years as the very fabric of their countries becomes torn apart. The essential ingredients that made those countries strong, not that put them on the map, but that gave them a heritage, a meaning and a national purpose, they are now seeing with this current generation are falling apart. I would say as my message today I stand strong with Bob Goodlatte and Randy Hultgren. We have Brother Rokita here, we have Scott Garrett from New Jersey, and we have even a Member from as far south as Mississippi, Steven Palazzo, who are going to come forth on this floor and talk about the need for America to gather itself with discipline and strength to add to the spirit and the resiliency of the American people, that of entrepreneurship, that of tough love and hard work that will make this country stronger and better. I stand here, Mr. Speaker, as a result of understanding, as other Members of this body that have circumstances that are very similar to mine. I have a future that I want to leave better than what I found it. I have two sons, one that's in the top 2 percent academically of students in this country, and one that is in the bottom 2 percent of students academically. And the future of this country is very important to them, perhaps more important than mine was to me. But on my son who is in the top 2 percent academically, Bill, the future of his American Dream is being threatened because he wants to be a physician. And physician after physician, those in the health care field, are saying, Bill, don't do that. This is his dream. On Alex's side, as a Down Syndrome young man, he is faced with a sure future where he will be competing against all of us for the needs that he should have as a disabled young man that should be the mission statement of this government. Yet, the Federal Government will be incapable and unable to perform because they are trying to take on everybody, and thus they will not do their job right. Former Senator Phil Gramm from Texas would speak about this often years ago when the same threat of a Clinton health care plan existed. Now it's the law. And Senator Gramm would talk about that, that little red wagon that is designed for just a few people that the Federal Government should get it right and support with government assistance-- those with a physical or intellectual disability, those who are seniors like our parents, yes, my parents at 81 years old who have served this country so well, so honorably and deserve a chance to be in that wagon in their latter years and, lastly, those who are too poor to take care of themselves. Mr. Speaker, this balanced budget will ensure that we try and create a mission statement with this Federal Government that is not about expanding itself to where it is not within a mission statement, but one where it is within a mission statement where we are going to require the Federal Government to do a few things and do them well, because we're not going to have the money unless we give it to them through economic growth. And with economic growth, people can have their own dreams and not depend on government. So why we're all here today there could be different reasons. But it will boil down to this: that the men and women of this body, some of whom I have spoken about, including the gentleman from Alabama (Mr. Brooks) who's joined us, are here for a mission and a purpose, and that is to join with Chairman Bob Goodlatte from Virginia and say to him that we want to leave America a better place than what we found it; and we believe bankruptcy debt, misery, and loss of jobs is not the right future. I heartily sign back up for this important effort again, which I led in '97, '98 and '99. I, once again, sign my name to that pledge. I am for a balanced budget to leave America a better place than we found it. I thank the gentleman for yielding me time. Godspeed and good luck, Mr. Chairman.

Mr. SESSIONS

Mr. SESSIONS. Mr. Speaker, I rise today to recognize Dr. Bruce A. Beutler for winning the Nobel Prize in Physiology or Medicine, alongside two other scientists, for discoveries in how the immune system functions. Initially, Dr. Beutler began searching for a receptor with the ability to bind lipopolysaccharide (LPS). After devoting a great deal of time cloning LPS receptor genes, Dr. Beutler and his colleagues made an important discovery in 1998--a Toll-like receptor (TLR) that activates signals when bound with LPS. This discovery spurred further research in innate immunity and now, over a dozen of different TLRs have been identified. I applaud Dr. Beutler's dedicated efforts and know that this finding will provide our medical community with greater understanding about how immune systems respond to diseases, keeping us on the forefront of medical research. In 2008, he was elected to the National Academy of Sciences. He currently serves as the Director of the Center for the Genetics of Host Defense at UT Southwestern Medical Center. Dr. Beutler is the fifth faculty member from UT Southwestern Medical Center to be awarded a Nobel Prize since 1985. Mr. Speaker, I ask my esteemed colleagues to join me in congratulating Dr. Beutler on receiving this prestigious award.

Mr. SESSIONS

Mr. SESSIONS. Mr. Speaker, I rise today to recognize Helen Bradley, this year's recipient of the Outstanding Teaching of the Humanities Award from Humanities Texas. After graduating from the University of Dallas, Ms. Bradley joined the Social Studies Department at Nimitz High School in Irving, Texas. Her belief in and commitment to the concept of opportunity is evident in her approach to her U.S. history and government classes. By helping students recognize America's unique opportunities for all and elevating the material with visits to the Dallas Holocaust Museum and the Sixth Floor Museum, Ms. Bradley creates a distinct, positive, and enjoyable learning experience for her students. She exhibits great leadership by coordinating with teachers from other departments and different grade levels to enhance the material and ensure her students are informed, knowledgeable, and proud of our Nation's rich history. Her lessons extend beyond the classroom. For over twenty years, Ms. Bradley devoted the third Friday of every month to community service, volunteering alongside a group of her students and Nimitz alumni. What she teaches her students is not merely U.S. history; it encompasses life lessons and the values of opportunity and service. Ms. Bradley exemplifies the important role of educators play in shaping our youth and preparing them to be the next generation of great leaders. This prestigious award recognizes her outstanding contributions in teaching and service to the humanities. It is my great pleasure and privilege to honor Ms. Bradley for her passion for teaching, commitment to service, and belief in the importance of education and opportunity. Mr. Speaker, I ask my esteemed colleagues to join me in congratulating Ms. Bradley.

Mr. SESSIONS

Mr. SESSIONS. Mr. Speaker, I rise today to recognize and celebrate Constitution Week. Founded in 1890, the Daughters of the American Revolution (DAR) is a volunteer women's service organization devoted to promoting patriotism, preserving history, and educating future generations. In 1955, DAR petitioned Congress to devote the week of September 17th-23rd for the observance of Constitution Week and to commemorate the signing of the Constitution on September 17, 1787. President Dwight D. Eisenhower signed this resolution into law the following year. This year marks the 224th anniversary of the drafting of the Constitution. The Constitution is much more than a historic document; it serves as a guide for our country and represents our commitment to the principles of freedom, liberty, and the unalienable rights of every American. It is woven into the very fabric of our great Nation--elected officials take oaths to support and defend it; citizens are free because of it; and our government design and functions exist because of it. Constitution Week provides us with a moment to pause and reflect upon our country's founding and renew our duty to protect and defend the Constitution. I am thankful for DAR's efforts to promoting Constitution Week and raising awareness about the importance of our Constitution and our Nation's rich history. Mr. Speaker, I ask my esteemed colleagues to join me celebrating Constitution Week.

Mr. SESSIONS

Mr. SESSIONS. Mr. Speaker, I rise today to congratulate the American Business Women's Association (ABWA) on its sixty-second anniversary. Since its founding in 1949, the ABWA has devoted itself to providing valuable educational, training, and networking opportunities to business women. Alongside three businesswomen from Kansas City, Mr. Hilary A. Bufton, Jr., recognized the important role of women in the American workforce and sought to utilize and develop their knowledge and skills by starting the ABWA. Over the past sixty-two years, the ABWA has flourished into an expansive network with many members in chapters across the nation. Due to the inclusive nature of the organization, the ABWA has a diverse membership, encompassing women from a variety of professions. The commitment to the professional development of women and harnessing their entrepreneurial spirit and potential has made the ABWA an important and influential organization. Many, including President Ronald Reagan, have recognized their hard work and contributions to the American economy. I am delighted to express my hearty congratulations to the ABWA as they celebrate sixty-two years of success. Mr. Speaker, I ask my esteemed colleagues to join me in recognizing the ABWA.