Member of Congress
Steve Stivers
- Role
- Former Representative
- State
- OH
- Party
- Republican
Speeches
VETERANS FIDUCIARY REFORM AND HONORING NOBLE SERVICE ACT2012-09-19
Mr. STIVERS
Mr. STIVERS. I'd like to thank the gentleman for yielding. As a Member of Congress and a serviceman, I was as shocked as everyone else by the stories coming out late last year about Dover Air Force Base mortuary sending cremated unidentified remains to the Prince George's landfill. It's a terrible injustice to our servicemembers, and it can't be allowed to happen again. While unidentified partial remains are now cremated and buried at sea, I believe we should not leave those heroes behind. My bill that became section 3 of H.R. 5948 creates a place of remembrance at Arlington National Cemetery for each conflict moving forward and ensures the remains of those who served and gave their lives have a final resting place that's deserving and worthy of their dedication and devotion. I'd like to thank the chairman, and I'd like to thank the gentleman from Minnesota (Mr. Walz), and the gentleman from New Jersey (Mr. Runyan) for their help and assistance on the bill. I would ask my colleagues to support H.R. 5948 and help ensure that there's a place of remembrance for those who've given their final measure of devotion, especially if their remains are unidentified, and make sure we send their remains to a place worthy of their dedication and commitment and devotion.
IMPROVING TRANSPARENCY OF EDUCATION OPPORTUNITIES FOR VETERANS ACT OF 20122012-09-11
Mr. STIVERS
Mr. STIVERS. I would like to thank the gentleman for yielding, and I would like to thank my colleague, Mr. Walz, for his help as we've tried to enact the Hire at Home Act, which has been rolled into this bill. The legislation came from a roundtable in my district of veterans last fall. And as veterans return home today with military training they've received, that training is not recognized by civilian authorities and States, and therefore they're forced to go through redundant training to do the job they were doing in the military. However, if somebody can do a job while serving in a war zone, they can certainly do that same job at home in a safe environment. With so many veterans returning home from Iraq and Afghanistan, we need to make sure we do everything we can to help get them back to work. It's shameful that the unemployment rate among post-9/11 veterans is 12.7 percent, according to a recent report of the Bureau of Labor Statistics. That's why we introduced the Hire at Home Act. It will help, as Representative Walz said, remove barriers in front of these soldiers, sailors, airmen, and marines and get them the civilian certifications they need to get them to work as soon as they get home. It forces States to do this by ensuring that in order to receive certain workforce development grants, they have to streamline these certifications. I would like to thank all those who have helped make this bill happen today: Representative Walz, Representative Bilirakis, Representative Miller, and Representative Stutzman. And I'd like to thank Senator Pryor for his interest in the Senate. I would like to call on the United State Senate to pass this bill as soon as we get it done. I'd like to thank the Members of this body for their support and urge all the Members to support this legislation.
CONGRATULATING ABBY JOHNSTON2012-08-02
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise today to congratulate Upper Arlington resident, Abby Johnston, on winning an Olympic silver medal in the women's 3-meter springboard synchronized diving competition at the 2012 London Olympic Games. On July 29, 2012, Miss Johnston and her diving partner, Kelci Bryant, took home America's first-ever Olympic medals for this event. In Columbus and Central Ohio, we take our sports very seriously. Abby Johnston was cheered on by her fans both here at home and abroad. In London, her parents, Elaine and David Johnston, as well as former coaches and teammates from Upper Arlington High School and the local U.S. Elite Diving Academy rooted for her poolside. Back in Ohio, Abby's accomplishment is a true point of pride for our city and it brings us together to celebrate as a community. An athlete works hard, dedicates many hours to practice, and puts forth a great deal of effort, but an Olympian takes all of that to a much higher level. I ask that all Members of Congress join me in offering my congratulations to our very own hometown Olympian, Abby Johnston, on winning her silver medal at the 2012 London Olympic Games.
RECOGNIZING RYAN HARDY2012-07-31
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, today I rise to recognize one of Central Ohio's very own hometown heroes, cancer survivor, Ryan Hardy. Ryan's long, difficult journey finally came to an end when he joyously rang the bell to signify his final chemotherapy treatment last month at Nationwide Children's Hospital. He was diagnosed with a brain tumor at the young age of two and was later diagnosed with leukemia when he was only eight years old. Ryan was extremely courageous, enduring treatments for almost 10 years with the love and support of family, friends, and the hospital's staff. Ryan and the people around him never gave up hope. He tried to live life as normally as possible by taking part in activities like playing on the youth football team. Ryan's story reminds us that we shouldn't take life for granted. With faith, hope and endurance we can overcome many obstacles in life. I am proud to represent heroes like Ryan Hardy in Ohio's 15th Congressional District. I commend him for his courage and am happy to hear that he was able to finally ring the bell.
HEALTH CARE LAW REPEAL2012-07-10
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, the House and Congress this week should pass the health care repeal bill because the President's health care bill is making the economy worse. I saw a recent poll that said 50 percent of small businesses are less likely to hire new employees because of the health care bill. As an example, in my district, I spoke to a small business owner who is scared to hire his 50th employee because it would subject his company to the mandates under the health care law. Greg Fortney, who is a small business owner, told me he has great concerns about the health care law. He said it would prevent him from expanding his operations and giving his employees a chance to grow their own businesses. To comply with the health care law, it would take all of the profits from his business, his annual profits, just to comply. We need small business owners focused on creating jobs, not worrying about complying with a new mandate. And it will tax our families who are struggling. Just last night, on a telephone town hall, I heard from a real estate agent who was concerned about the 3.8 percent tax on sales of homes that will go into effect in January of 2013. On a $100,000 home, that's $3,800, and it could make the difference between somebody being able to sell their home for a profit and a loss. So this isn't on the gain; this is on the net price. It has nothing to do with the health care bill. It was just a way to pay for the extra costs in the bill. The bottom line is that the health care bill is making the economy worse. It's hurting job creators and it's hurting our struggling families and hurting real estate values. We need to repeal it and start over by focusing on cutting costs in our health care system and improving the efficiency. If we have a real crisis in health care, it's a crisis of cost.
HONORING SGT JOSEPH ANGEL CAPOCCIAMA2012-06-19
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise today to honor Sergeant Joseph Angel Capocciama. Sergeant Capocciama passed away on Sunday, May 20, 2012, from complications of injuries sustained in service to his country in Iraq. The son of Alan and Maria Capocciama, Joseph Angel Capocciama was born on May 29, 1987, and raised in Grove City, Ohio. He graduated from Grove City High School in 2005. A true patriot, Sergeant Capocciama joined the United States Army on May 23, 2006, just one week before his 19th birthday. While proudly serving his country in Iraq, Sergeant Capocciama received the Army Commendation Medal, Army Achievement Medal, Valorous Unit Award, Army Good Conduct Medal, National Defense Service Medal, Global War on Terrorism Service Medal, Iraq Campaign Medal with Campaign Star, Army Service Ribbon, and Overseas Service Ribbon. He retired from the Army on April 7, 2010. It is because of the sacrifices of men like Joseph Capocciama that we continue to enjoy the freedoms that we do today. I am deeply thankful for all that Sergeant Capocciama endured to preserve our freedom and for his heroism. He is survived by his wife, Kayla, and his children, Joseph Angel Capocciama, Jr. and Cheyenne Faith Capocciama, for whom he set an inspiring example of service and patriotism. On behalf of the citizens of Ohio's 15th Congressional District I would like to honor the service and memory of SGT Joseph Angel Capocciama.
CONGRATULATING THE DAVE THOMAS FOUNDATION FOR ADOPTION ON ITS 20TH ANNIVERSARY2012-06-19
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise to congratulate the Dave Thomas Foundation for Adoption on the occasion of its 20th anniversary. This foundation, established in 1992 by Dave Thomas, has continuously strived to help every child in foster care find a loving, permanent family. It has dramatically increased the number of adoptions, including finding families for 3,000 children in the United States foster care system, and for that I commend them. The Foundation shows its commitment to the foster care system by awarding grants to public and private adoption agencies all across the country. As a founding member of National Adoption Day, it has helped brighten the lives of countless children. Last year's awarded grants totaled more than $8 million and focused on supporting adoption professionals who assist the longest-waiting children from foster care into adoptive families. This genuine program, Wendy's Wonderful Kids, has increased children's likely hood of being adopted by up to three times. As an accredited charity of the Better Business Bureau Wise Giving Alliance, Standards for Excellence certified, the Foundation has received the highest possible rating on Charity Navigator, an exceptional honor. For these reasons, I am proud to applaud the Dave Thomas Foundation for Adoption for representing Central Ohio through its extraordinary contributions to the United States foster care system.
CONGRATULATING THE FOREST PARK CIVIC ASSOCIATION ON ITS 50TH ANNIVERSARY2012-06-05
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise today to congratulate the Forest Park Civic Association on its 50th anniversary. The Forest Park community and its people have played many significant roles throughout their rich history. Many communities across this great nation have been modeled after Forest Park and its pedestrian-friendly design. In 1976, resident Tina (Bishoff) Lovin set a then-world record when she swam the English Channel at the age of 17. The Montreal Olympics featured a Forest Hill local, Debbie (Keplar) Wilson, when in 1976 she won an Olympic Bronze Medal in the Platform Diving event. The hard work and selfless contributions of Forest Park and the members of its community have contributed to the vibrancy and sense of unity in Central Ohio. I ask that all Members of Congress join me as I offer my congratulations to the Forest Park Civic Association on its 50th anniversary.
RECOGNIZING MATT WOODRUM2012-06-05
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise to recognize one of Central Ohio's very own hometown heroes, fifth-grader Matt Woodrum of Worthington, Ohio. Matt is battling Spastic Cerebral Palsy, but his courage, inner strength, and determination came together in May when he ran and completed a 400-meter race at a Colonial Hill Elementary School field day. When I learned of Matt's story from a YouTube video that gained worldwide attention, I was particularly moved by his courage and perseverance. The inspiration I felt became two-fold when Matt's classmates surrounded him and cheered by his side all the way to the finish line. The explosion of excitement at the end of the video from the children, parents, and teachers was truly infectious. I invite all Members of Congress to take a moment to think about the drive and discipline Matt Woodrum demonstrated that day when he charged through the pain of his condition to continue onward and finish that race--one determined step at a time. I am so proud to represent the people of Central Ohio in Congress, because our communities shine with genuinely kind and selfless heroes like Matt and his classmates. Those same students at Colonial Hill Elementary School will grow up to be the future of our communities in Central Ohio, and their story gave me hope that it will be very, very bright.
HONORING VINCE GILL2012-06-01
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, today I rise to recognize the courageous actions of Hilliard resident and 2011 graduate of Hilliard Davidson High School, Vince Gill. On May 27, 2012, Vince rescued a drowning man in New York's Genesee River. I ask that all Members of Congress join me and the people of Ohio's 15th Congressional District in thanking Vince Gill for his brave actions. Despite the grave risk to his own life, he selflessly rose to the occasion when he dove into the river and swam almost a pool's length to save the life of 26-year-old Abdulma Alhari, of Rochester, NY. For his heroism, the New York State Park Police will nominate Vince for a well-deserved civilian lifesaving award. I extend my sincere thanks to Vince Gill for his heroism. While to some he may be an ordinary young man, his extraordinary act is exactly what makes me so proud to represent the everyday heroes of the Central Ohio area.
NATIONAL FLOOD INSURANCE PROGRAM EXTENSION ACT2012-05-30
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I would like to thank the gentlelady from Illinois for yielding me time. I'd like to thank her as chairwoman of the Subcommittee on Insurance and Housing for the Financial Services Committee for her incredible bipartisan effort that she led on this bill, along with Members of the other side, including the gentlelady from California and the gentleman from Georgia. It's been a true bipartisan effort. Obviously, that's reflected in the 402 18 vote coming out of this Chamber in May. I'm happy that the Senate has finally reached an agreement to move forward with the multiyear extension of the National Flood Insurance Program because if we don't have a multiyear extension, what could happen is it could really cause problems in our housing market. I think the gentleman from Georgia has really talked about the importance of continuity and why that's really important for people that live in a flood plain to be able to know they can sell their house and also know that somebody can buy a home that happens to be in a flood plain. I think it is important that we have accurate flood maps. This bill will ensure that we have much more accurate flood maps that have three dimensions on them, and that will result in better knowledge of where the flood plains are and where the risk is. This bill will help stop the taxpayer-funded bailouts. As you know, the National Flood Insurance Program owes $17 billion to the taxpayers. We've got to make sure that it is sustainable into the future. I think some of the Senate changes are good. The amendment by Senator Coburn that makes sure that we don't subsidize second and third homes that happen to be vacation homes makes a lot of sense. It steps up the premiums 25 percent a year for multiple years until they become actuarially sound. We need to ultimately move the whole program to an actuarially sound basis. That's why I'm concerned about some of the other provisions in the amended Senate language that removed the GAO study regarding privatization and allowing a chance to look at the flood insurance program's ability to pay claims over the long term. I think it is important that we know the viability of the flood insurance program. But overall, I think having Senate amendments and a Senate agreement is a major step forward. I'm excited about continuing to work together to move this program forward and reauthorize it, hopefully, for a 5-year term. But this step to agree to Senate amendments to extend the time for a total of 60 days to get us past July so that hopefully the Senate will have time in June to bring this up, I think allows us the time we need to make that happen. I do think if anybody in this body cares about our housing market or cares about stopping taxpayer-funded bailouts or wants to make sure that we have accurate flood maps, they should vote to agree to these amendments, and I hope all my colleagues will do so.
RECOGNIZING ERIC BABCOCK2012-05-30
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, today I rise to recognize the courageous actions of Grove City resident, Eric Babcock. On December 18, 2012, Eric rescued a neighbor's young granddaughter from the second floor of a burning garage. I ask that all Members of Congress join me and the people of Ohio's 15th Congressional District in thanking Eric Babcock for his brave actions. Despite the grave risk to his own life, he selflessly rose to the occasion and saved the life of his young neighbor. For his heroism, Eric received well-deserved recognition from the Jackson Township Board of Trustees. I extend my sincere thanks to Eric Babcock for his heroism. While to some he may be an ordinary person, his extraordinary act is exactly what makes me proud to represent the everyday heroes of the Central Ohio area.
UNITED STATES-ISRAEL ENHANCED SECURITY COOPERATION ACT OF 20122012-05-09
Mr. STIVERS
Mr. STIVERS. Madam Speaker, on rollcall No. 225, I was unavoidably detained during the vote. Had I been present, I would have voted ``yea.''
CYBER INTELLIGENCE SHARING AND PROTECTION ACT2012-04-26
Mr. STIVERS
Mr. STIVERS. Madam Chair, I would like to thank the gentleman from Michigan for yielding me time. I would also like to thank him for his leadership on this effort, as well as the ranking member, the gentleman from Maryland (Mr. Ruppersberger). I rise today in support of the cybersecurity legislation under consideration. As a member of the Cybersecurity Task Force, I'm pleased that many of our recommendations are included in this bill. Cybersecurity is a very important issue. Every day there are people trying to use cyberattacks to steal our money, steal our jobs, and attack our national security. I know as a member of the Financial Services Committee that our financial sector spends billions of dollars every year trying to protect against cyberattacks. They protect consumers by increasing controls, making sure they have encryption, authenticating customers, and protecting customer data. That's all protecting our wallets, but we also need to protect our jobs. Unfortunately, there are folks who would like to use cyberattacks to steal our intellectual property and give it to those who compete against America, which will steal our jobs. Not allowing information-sharing like this bill does would be like saying to the Marines and the Army, You can't share information about how the enemy is going to attack you. As a member of the National Guard for the last 26 years, I know that cyber is also a real threat to our national security. This bill will update our information-sharing to allow private companies to share information with the government and the government to share information, and includes some important liability protection as well. It's a carefully crafted bill. I think the gentleman from Michigan (Mr. Rogers) and the gentleman from Maryland (Mr. Ruppersberger) have been very open to working with folks to try to improve this bill. I'm looking forward to supporting some of the bipartisan amendments that I think will improve this bill. Madam Chair, we must protect ourselves against cyberattacks, against those who would steal our money, steal our jobs, and attack our country. This bill is not a panacea, but it's a great start. I'm happy to support it, and I hope all my colleagues will vote ``yes.''
HONORING MASTER SERGEANT JEFFREY J. RIECK2012-04-26
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise today on behalf of a grateful nation to celebrate the life of Ohio Army National Guard MSG Jeffrey J. Rieck--a true American hero who lost his life on April 4, 2012, while deployed to Afghanistan for Operation Enduring Freedom. An Ohioan and fellow soldier from Columbus, Ohio, he recently joined the countless number of fearless warriors who have given the final measure of devotion in defense of our great nation. Master Sergeant Rieck, 46, was born in Cincinnati, Ohio, and served a 25-year career with the military that began in May 1987. Among the medals awarded for his heroism are a Bronze Star and Purple Heart, which are just the beginning to the honors owed to him. A dedicated and loving father, brother, uncle, nephew, cousin, and friend, Master Sergeant Rieck will be remembered as a true hero who dedicated every aspect of his life to his family, loved ones, and country--a man who served with true pride and grace. I feel absolutely privileged that I had the opportunity to serve with Master Sergeant Rieck in the Ohio Army National Guard. George Orwell is known to have said, ``We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm.'' Master Sergeant Rieck highlighted this quote as one of his favorites, and no better quote could be referenced to describe the soldier we lost a few weeks ago. As I pray for the family and friends of Master Sergeant Jeffrey Rieck, I ask that all Members of Congress join me in offering our eternal appreciation for his life and sacrifice. He went to the furthest and greatest extent in order to secure our freedom here at home, and that must never be forgotten.
HONORING MASTER SERGEANT SHAWN T. HANNON2012-04-26
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise today on behalf of a grateful nation to celebrate the life of Ohio Army National Guard Master Sergeant Shawn T. Hannon--a true American hero who lost his life on April 4, 2012, while deployed to Afghanistan for Operation Enduring Freedom. A fellow Ohioan and soldier from Grove City, Ohio, Master Sgt. Hannon, 44, gave the final measure of devotion when he was killed in action while serving in the line of duty in the protection of our nation. Master Sgt. Hannon was a lifelong soldier who served for almost 20 years in the Ohio Army National Guard. Hannon was the kind of soldier who makes the citizens of Ohio's 15th Congressional District so proud. He served in multiple deployments, which included Iraq, RAF Lakenheath, England, Mississippi for Hurricane Katrina, and Florida for Hurricane Andrew. He earned a well-deserved Bronze Star, Purple Heart, and the Ohio Distinguished Service Medal for his outstanding service. As a father, husband, son, brother, and friend, Master Sgt. Hannon was known for his charisma, love, and loyalty. I consider myself privileged to have had the opportunity to serve with him in the Ohio Army National Guard. We should thank God every day that heroes like Master Sgt. Hannon exist, because every day he stood ready to protect and fight for our freedom. His bravery, selflessness, and sacrifice will be forever remembered, as will his unwavering commitment to God, country, and his family. I ask that every Member of Congress join me in paying tribute to the life of Master Sgt. Hannon--his bravery and selflessness are deeply missed and felt. We are able to have freedom and safety today because of the ultimate sacrifice that he has made, and for that we owe a great debt of gratitude.
APRIL IS MONTH OF THE MILITARY CHILD2012-04-25
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise today to recognize April as the ``Month of the Military Child.'' In 1986, Secretary of Defense Caspar Weinberger established April as the Month of the Military Child. Since then, the communities that surround our military families have had the month of April as a time to focus on recognizing the important roles that military children play. There is no doubt that we owe a great debt and gratitude to our military for the unparalleled freedom and opportunity we enjoy in this country. But, we need to pause and remember that this is also made possible through the dedication and sacrifices made by their families and children as well. While I understand it is important to show our support for the military and their loved ones every day of the year, I welcome the emphasis placed on the children of service members in the month of April. As a way to offer my continued support and gratitude, I recently introduced H.R. 4341, TRICARE for Kids, which would help the Department of Defense and its TRICARE program develop and encourage health care practices and policies that are designed to address the specific health care needs of military children and families. The Department of Defense estimates there are approximately 1.9 million military children, and I believe we all need to work to ensure they have access to the resources and support that best meets their needs--including health care. Without the selfless contributions our military and their families have made throughout history, our great nation would not have the freedom that it does today. Military children are a special part of that aspect of our history, as they are the young, brave, and often unnoticed heroes who have stood strong alongside their parents who have risked their lives and fought for our country and way of life. I thank every one of them for what they do, and I would like to ask every Member of Congress to join me in offering support throughout this Month of the Military Child.
HONORING ROBERT LANTHORN2012-04-19
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, I rise today to honor the public service career of Robert Lanthorn. Robert is a teacher of American History, American Government, Economics, and Advanced Placement United States Government and Politics. Robert has served as an educator at Hamilton Township High School for the past five years. Robert is being honored as The Educator of the Year by Kids Voting USA. The Educator of the Year award is a national award presented to a teacher who motivates their students to be civically active both through teaching and example. Robert has used innovative teaching methods and gained the trust of his students keeping them engaged and interested in learning. His outstanding teaching methods have earned him many awards throughout his teaching career. Robert has been named Kids Voting Educator of the Month, Ohio Lottery's Teacher of the Month, and Ohio's Outstanding Teacher of American History by Ohio State Society Daughters of the American Revolution. Robert's desire to motivate his students to not only learn but also engage in civics has had a positive effect on his students and the community alike. His students have participated in the political process and an amazing 83 percent of students participated in Hamilton Township High School's mock election. Robert has inspired many students to become involved in their community and instilled life lessons of civic responsibility. I thank Robert for all that he has done to serve our community and educate our youth and congratulate him on being named Educator of the Year.
RECOGNIZING THOM HAUBERT2012-03-27
Mr. STIVERS
Mr. STIVERS. Mr. Speaker, today I rise to recognize Mr. Thom Haubert for his distinguished work and accomplishments as Battelle Memorial Institute's Inventor of the Year. The American innovator has been a cornerstone of this country's culture and a key to our success. It is through these new ideas that our country has been able to prosper in the past, and how our country will work its way out of these challenging economic times. That is why I am happy to recognize Mr. Haubert for this great accomplishment. Thom joined Battelle, the world's largest independent research and development organization, in 1988, and has contributed to and led important research projects. Thom's significant impact on the world, its body of science and engineering, has resulted in numerous real world applications to help people. One of his recent and significant discoveries is in helping to detect and track cancer. Thom is one of Battelle's ``go-to'' mechanical engineers for ideation aspects of many health and life sciences programs. Over the years, he has been able to quickly identify creative, inventive, practical, and unique solutions to difficult problems. As a result of the ingenuity of his thinking and tenacity of his work, Thom has 20 issued patents, 21 patent applications pending, and is a Battelle Distinguished Inventor. Five of his patents are for an early screening cancer detection system where rare cancerous cells can be identified through simple blood tests. This simple blood test can also be used for tracking post cancer and remission. Thom's research in this area will hopefully lead to earlier cancer detection and eventually to tests for other diseases. I extend my heartfelt congratulations to Thom Haubert for his work that has saved lives and made a difference to so many people. He stands as an example to young engineers across the country, and I am very pleased to thank him for all that he has done for Ohio and our country.
TREATMENT OF AFFILIATE TRANSACTIONS UNDER THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT2012-03-26
Mr. STIVERS
Mr. STIVERS. I would like to thank the gentleman from New Jersey for yielding me time. I would also like to thank my fellow Ohioan, Ms. Fudge, for her hard work and support on this bill, and I would like to thank Ms. Moore from Wisconsin for her hard work as I recognize that she improved the bill. I would also like to thank the chairs and ranking members of the Financial Services and Agriculture Committees and their staffs for their hard work on this bill. Mr. Speaker, this is bipartisan legislation that clarifies the Dodd- Frank Financial Reform Act by recognizing that there is an important distinction between inter-affiliate swaps and market-facing swaps. While market-facing swaps carry risk, inter-affiliate swaps do not. They're simply an accounting practice used within corporate families to assign the ownership of derivatives inside the corporate umbrella. Without providing this distinction, corporations using inter-affiliate swaps that manage their risk in a central way would be forced to pay up to three times for the way they do business. In fact, they would collateralize their derivatives against the market on one side and then on both sides of the inter-affiliate swap, so they would actually pay three times what you would pay if you didn't manage your risk in a centralized way. The irony of that is, in managing your risk in a centralized way, it actually provides better protection and allows for experts to manage your risk. The problem with that also is it would tie up working capital that could be used to create jobs here in the United States and get our economy moving and focusing on our recovery. There are important protections in this bill, as well, that the lady from Ohio already alluded to. We put protections in this bill to make sure that businesses that utilize this provision are, indeed, truly affiliated. We also made sure that there were reporting requirements so that these swaps adhere to transparency in the marketplace. We also made sure that it's very clear that any attempt to use these provisions to evade provisions under the Dodd-Frank bill for someone who is just trying to evade the law and does not have true inter-affiliate swaps would not be allowed. We also ensured that regulators keep their authority to manage the safety and soundness of America's financial institutions. The bottom line is we should not overcharge businesses for an accounting method they use that does not generate additional risk. By passing this legislation, we are preventing these internal transactions from being subject to duplicative regulations that could drive jobs overseas and increase costs for consumers. This bill was reported unanimously in the Financial Services Committee 53 0, and it passed by unanimous voice vote in the Agriculture Committee. I urge my colleagues to vote in favor of this legislation.
UNITED STATES MARSHALS SERVICE 225TH ANNIVERSARY COMMEMORATIVE COIN ACT2012-03-21
Mr. STIVERS
Mr. STIVERS. I ask unanimous consent that all Members have 5 legislative days in which to revise and extend their remarks and to add extraneous material to the bill.
Mr. STIVERS. I yield myself as much time as I may consume. I rise today to urge the House to concur in two minor amendments made by the Senate to H.R. 886, introduced by the gentleman from Arkansas (Mr. Womack) and passed by the House last December with more than 300 cosponsors. The amendments, which are unobjectionable, merely certify that the coins produced under the program outlined in the bill will comply with existing law requiring that they be produced at no cost to the taxpayers. Madam Speaker, 112 Congresses ago, during the first session of the first Congress, George Washington signed into law the Judiciary Act and appointed the first 13 men who formed the basis for the Nation's first Federal law enforcement agency. The Marshals Service will celebrate its 125th anniversary in 3 years. This legislation authorizes issuance of coins recognizing that anniversary. Surcharges on the coin sales will generate funds for a number of law enforcement-related entities, primarily the U.S. Marshals Museum. I urge adoption of the bill as amended. I reserve the balance of my time.
Mr. STIVERS. Madam Speaker, I have no further speakers. I urge adoption. I yield back the balance of my time.
Mr. STIVERS. Madam Speaker, I move to suspend the rules and concur in the Senate amendment to the bill (H.R. 886) to require the Secretary of the Treasury to mint coins in commemoration of the 225th anniversary of the establishment of the Nation's first Federal law enforcement agency, the United States Marshals Service.
Mr. STIVERS. Madam Speaker, I yield such time as he may consume to the gentleman from Arkansas (Mr. Womack).