Mark Udall

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, I rise today to speak about the Renewable Energy Market Access Program Act, or REMAP Act, which I introduced to help grow American renewable energy and energy efficiency exports abroad. This bill would help small- and medium-sized renewable energy businesses promote, export and ultimately penetrate foreign markets. I know my colleagues are well aware of the importance of exports to our Nation's economy, as evidenced by their support for efforts to increase American competitiveness abroad. I am also encouraged by the President's National Export Initiative and its goal to double American exports over the next five years. This effort will be critical to a full economic recovery and I encourage the administration to continue its work; however, I believe that we need to do more to support a sector that shows tremendous growth potential. In 2009, $162 billion was invested in clean energy worldwide, and it is estimated that this investment will increase to $200 billion in 2010. Additionally, 90 percent of worldwide investments in renewable energy goods occur in G-20 countries and the developing world is projected to comprise 80 percent of the world's future energy demand. While I continue in my belief that the United States must remain competitive in both public and private domestic investments in renewable energy, I also believe that we cannot ignore the growing potential for American businesses to access markets abroad. Growing private and public investment in the global economy means growing markets for American companies of all sizes here at home--which translates into sustainable, well-paying jobs. In this economic climate, I know the most important thing on everyone's mind--Democrats and Republicans alike--is putting people back to work. However, those small- and medium-sized businesses and companies, which are the engine for our domestic economy, are likely to need more assistance in accessing these growing foreign renewable energy markets. This is why I have filed legislation that focuses on equipping small- and medium- sized enterprises with the tools they need to access foreign markets and thereby strengthening our domestic economy and creating jobs. My legislation would support the promotion of American renewable energy and energy efficiency products abroad by creating a Renewable Energy Market Access Program or REMAP. Through REMAP, trade associations and State-regional trade groups would apply to the U.S. Department of Commerce and enter into cooperative agreements to provide marketing and trade assistance to small and medium-sized companies in the renewable energy and energy efficiency sectors. The assistance would help facilitate the export of their goods to existing and new foreign markets. The agreements would also offer eligible participants an opportunity to share the costs related to innovative marketing and promotion activities. The public funding for any one application would never exceed 50 percent of the total cost of the proposal, ensuring buy-in from the applicant and an ongoing working relationship with the Department of Commerce. In sum, this bill will help streamline access to the global marketplace for small business and help promote American renewable energy and energy efficiency products overseas. I would like to highlight a sector in the renewable energy industry that could make good use of the REMAP program and in turn help strengthen the American clean energy manufacturing sector. The small wind sector is just one renewable energy area that has recently experienced strong growth and has great potential. According to industry statistics, the U.S. small wind market grew by 15 percent in 2009 despite our economic challenges. What has been even more encouraging is that approximately 95 percent of units sold in the U.S. in 2009 were produced by U.S. manufacturers. Not only is the U.S. small wind industry working to meet our growing domestic appetite for small- wind generation, it is also poised to be a growing force in the global market. In 2009, U.S. manufacturers accounted for 47 percent of global small wind sales and exports accounted for approximately 36 percent of U.S. manufacturers' sales, which represents an eight percent increase from 2008. As countries develop energy policies that drive investment in their renewable energy economy, our domestic renewable energy industry will see its potential to export grow. The question that remains is: how do we ensure that American small wind producers realize their full potential to help meet the global demand for the goods they produce? The answer is through efforts to promote U.S. renewable energy and energy efficiency products abroad. I believe that the U.S. can grow as a leader, not just in small wind, but in all sectors of renewable energy and I believe that REMAP can help take us there. I want to be clear that I strongly believe that this legislation is an important step in the right direction to support a growing industry, but I want to acknowledge that there is more that needs to be done to ensure that our country's renewable energy goods have fair access to foreign markets. Congress must find sensible policy mechanisms to address the unfair trade barriers and other anti-competitive tactics that are used to keep our goods from the shores of other nations with which we have stable relations, and we should continue having conversations on how these matters can be best addressed. But no matter the situation, we must stand in support of our domestic small businesses and provide them the resources they need to help them access new and growing markets, while we fight to ensure fairness in the global economy. I urge my colleagues to join me in supporting this legislation. Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, we have had a lot of spirited debate on the floor about the Wall Street Accountability Act, and there have been some differences. One area we all agree on is that we ought to empower consumers with this important piece of legislation. The amendment I am offering with Senator Lugar does just that. It provides that if you are turned down for credit because you have applied for a loan or you have a higher loan rate, you will have access to your credit score, your FICO score. I believe this will empower consumers, increase financial literacy in our country, and it is a win-win across the board. I want to thank the group of Senators--some 20-plus--who supported this amendment. I particularly thank the chairman, Senator Dodd, for his yeoman's work. I urge an ``aye'' vote on this important amendment. I yield the floor.

Mr. UDALL of Colorado. Mr. President, I ask unanimous consent the order for the quorum call be rescinded.

Mr. UDALL of Colorado. Mr. President, I ask unanimous consent that at 5:30 p.m. today, the Senate proceed to vote in relation to the following amendments in the order listed; that after the first vote there be 2 minutes of debate prior to the succeeding votes, with the succeeding votes limited to 10 minutes in duration: the Crapo amendment, No. 4020; the Cornyn amendment, No. 3986; the Udall of Colorado amendment, No. 4016; provided further that no amendment be in order to any of the amendments covered in this agreement prior to a vote in relation thereto.

Mr. UDALL of Colorado. I suggest the absence of a quorum.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, Senator Lugar and I introduced this modified amendment in working with Senator Dodd, the Treasury Department, and the Federal Reserve to find a way to increase Americans' access to their credit scores. Before I talk about the amendment, the chairman of the committee, my friend and colleague from Connecticut, is on the floor. I thank him for working with me and a group of about 20 bipartisan Senators to provide greater access to consumer credit scores. Senator Dodd had a thoughtful, incisive idea about how we might be able to move this amendment to the floor, and that was to provide a credit score on a transactional basis. That is exactly what this amendment does. A credit score affects consumers' interest rates and monthly payments on home loans and can even influence a consumer's capacity to buy a car or rent an apartment, even get phone or Internet service. Our amendment would take the two consumer notices that the Federal law requires lenders to give consumers and makes sure the credit score used to evaluate the consumer is disclosed to that individual. Right now--and I found this out in the process of researching what we are trying to do--if you receive a general notice of your credit application being turned down or if you are offered credit at less favorable terms, you don't receive a disclosure of the credit score used to determine that outcome. Under our amendment, if you are turned down for a loan or you are given a higher interest rate because of a low credit score, you now have the right to see the credit score that was used. I know of the Presiding Officer's interest and long experience in the world of housing and providing access to people in that way. I know this is something he has followed with great interest. There is a fundamental principle at stake. If your credit score is being used against you, you ought to have the right to at least see it. I know every single American would want to improve that credit score and understand how they could have a greater financial opportunity, greater financial standing. I thank Chairman Dodd and Senators Lugar, Levin, Bond, Scott Brown, Schumer, Begich, Lautenberg, and all the 20-plus Senators who helped push for this important issue. I especially thank Senator Pryor for working with us to find something everyone could agree to in this modified version. I am appreciative that we were able to work it out. I understand that the amendment is scheduled to be addressed Monday night. I hope we can perhaps accept it on a voice vote at the proper time as well. With that, I yield the floor.

Mr. UDALL of Colorado. Mr. President, I ask unanimous consent that reading of the amendment be dispensed with.

Mr. UDALL of Colorado. Mr. President, I ask unanimous consent that the pending amendment be set aside, and I call up my amendment No. 4016.

Mr. UDALL of Colorado. Mr. President, before I ask a unanimous consent on an amendment, I will comment on Senator Casey's remarks that were just delivered so powerfully and eloquently. He is right on point that the efforts underway in Afghanistan are crucial to our country's national security. It was important, as well, that he talked about the three main factors that are in play there in our ultimate success. This week, we had President Karzai and much of his Cabinet in Washington. I certainly appreciate the effort President Karzai made to show his respect for those who have fallen in Afghanistan in the war there. I also note General McChrystal was here briefing many of us. I think the Presiding Officer, as well, heard from him on the state of the situation in Afghanistan. This isn't going to be easy. I am heartened by what I heard. I express my appreciation for the valor, commitment, and honor that our forces in Afghanistan have displayed. Amendment No. 4016 to Amendment No. 3739

Mr. UDALL of Colorado. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. UDALL of Colorado. Let me again thank the chairman of the Banking Committee for his willingness to work with those of us in a bipartisan coalition. His comments are right on point, as always. I think the Senator from Connecticut is right when he suggests that, as Americans have access to credit scores, they are going to be more interested, as time goes on, in understanding how to build and strengthen that score and be more financially literate, if you will. The chairman has been remarkable in the time he has spent on the floor and the strength he has shown, with the lack of sleep he has endured. His product, which many of us have contributed to, will be seen by historians as a seminal moment, when we put Wall Street on a more accountable basis. Under the chairman's leadership, we have also given consumers more recourse and access. In the end, I think that is what the chairman wanted to do, and will do, to protect consumers all over our great Nation. This is one small but important way to do that. Again, I thank the chairman and look forward to the vote on Monday night. I agree this will have widespread support. I will continue to ask for those votes, and I know we will work to have a successful outcome Monday.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, today I pay tribute to a great American who I have had the great pleasure of knowing and working with for a number of years. General Victor Eugene Renuart, Jr., is preparing to retire from the U.S. Air Force after nearly 39 years of distinguished military service, and it is fitting that we should honor his achievements. Through peacetime and multiple armed conflicts and operations, General Renuart has embodied the core values of the Air Force: integrity, service, and excellence. He courageously demonstrated his dedication to our Nation and served us honorably as a leader, warrior, and teacher. I want to also express our deepest thanks to his wife Jill, and their sons Ryan and Andrew, for serving as the epitome of a dedicated military family. As you know, military families like the Renuarts are America's unsung heroes, and we owe them a tremendous debt. Gene Renuart enlisted in the Air Force while our Nation was still engaged in the Vietnam war and received his commission from the Officer Training School in 1972. In the four decades since that day, he has amassed nearly 4,000 flying hours in seven aircraft types and piloted 69 combat missions in major operations. The call to service has led Gene and his family all over the world, and he has commanded units at every level through conflicts in Iraq, Bosnia, and Afghanistan. The long list of awards and decorations that General Renuart has earned during his career are a testament to his years of exemplary leadership and unrelenting focus on mission accomplishment. As a lieutenant colonel during Operation DESERT STORM, General Renuart commanded the 76th Fighter Squadron ``Vanguards,'' who were trusted with a mission critical to the safety of the entire region. They hunted the Iraqi landscape in search of SCUD missile sites and protected Coalition troops from attack. General Renuart's squadron flew hundreds of combat missions and fought at the famed ``Highway of Death,'' leading to the liberation of Kuwait and defeat of the Iraqi Republican Guard. It was clear to everyone who knew him that Gene Renuart was a leader of the highest caliber, and he quickly rose through the ranks. On September 11, 2001, then-Major General Renuart was serving as the Director of Operations for United States Central Command, and his leadership and experience were instrumental as our nation rapidly transitioned from peace to war. General Renuart was soon providing operational orchestration for the invasions of Afghanistan and Iraq as our armed forces quickly eliminated those repressive regimes. In March 2007, General Renuart was promoted to the rank of four-star general and appointed Commander of the North American Aerospace Defense Command and U.S. Northern Command. The general and his command were given the no-fail responsibility of protecting the United States and Canada against all threats in the air and on the seas, while leading the Department of Defense's support of civil authorities to save lives during both natural and manmade disasters. With General Renuart's leadership, NORAD and USNORTHCOM widened its focus to anticipate threats to the United States and respond where necessary. The significant improvements of the unified national response to Hurricane Ike were born from the lessons learned from Hurricane Katrina and were a direct result of General Renuart's emphasis on anticipating our Nation's needs in times of disaster. For this effort and many others, General Renuart and his team collaborated with over 120 mission partners representing Federal, State, and local governments, nongovernmental organizations, and private industry to quickly and responsibly execute key Department of Defense responsibilities in the National Response Framework. He fostered synergy with the interagency community and collaborated with the militaries of Mexico and Canada to ensure North America's security. Whether expediting the transfer of helicopters and equipment to the Mexican military for counternarcotic operations or partnering with our northern neighbors under the Canada-United States Civil Assistance Plan to support the 2010 Olympic Games in Vancouver, General Renuart set and achieved tremendous goals for theater security cooperation. Working together to defend the homeland, NORAD and USNORTHCOM have delivered unparalleled security for our Nation. Not only did NORAD achieve a huge milestone--surpassing 55,000 accident-free sorties flown defending our homeland under Operation NOBLE EAGLE--but more importantly, there has not been a single successful foreign terrorist attack on American soil. That success has been the result of the extraordinary diligence, cooperation, and dedication that have exemplified General Renuart's leadership. On behalf of Congress and the United States of America, I thank General Renuart, Jill, Ryan, and Andrew for their commitment, sacrifice, and contributions to this great Nation. I am also especially pleased to say that General Renuart and Jill will be calling Colorado Springs home for many years to come. We Coloradans are honored to have them as neighbors and friends. I congratulate him on a truly remarkable career and wish him nothing but the best as he transitions from decades of service into his truly well-earned retirement.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, I rise today to pay tribute to our wounded warriors. This week at the Olympic Training Center in Colorado Springs, more than 200 wounded warriors from every branch of the military are competing in the inaugural Warrior Games. This event is the brainchild of Brigadier General Cheek, with whom I spent the day at Fort Carson last week visiting the Warrior Transition Unit there. These soldiers do so much in defense of our country, yet we are not often in a position to cheer their performance. This week, we can. Although I am not able to be in Colorado to cheer them myself, I wanted to cheer them on here, from the Senate floor. These games are a partnership between the Department of Defense, the U.S. Paralympics, and other organizations that are working together to give our wounded warriors an opportunity to push themselves, set goals, and demonstrate their abilities. The Army sent 100 competitors--chosen out of a pool of almost 9,000 wounded warriors--the Marine Corps sent 50, the Air Force 25, and the Navy and Coast Guard 25 combined. These military members and veterans have physical injuries as well as mental wounds of war, and they are competing in swimming, cycling, wheelchair basketball, archery, track, and sitting volleyball, among other events. This week's Warrior Games is about the abilities of these warriors, not their disabilities. And it is about goal-setting, which can expedite the recovery process. This mindset is important for all our wounded warriors, not just those competing in the Games this week. General Cheek has said that ``While we've made enormous progress in all the military services in our warrior care . . . it's not enough. . . . What we have to do with our servicemembers is inspire them to reach for and achieve a rich and productive future, to defeat their illness or injury to maximize their abilities and know that they can have a rich and fulfilling life beyond what has happened to them in service to their nation.'' I agree with General Cheek and believe that today the Army is working hard to help our wounded warriors in their difficult transition back to service or to life in the civilian world. But the Army acknowledges that it has faced some serious challenges when it comes to caring for our injured troops, especially those who have experienced brain injuries and psychological wounds. While I have seen real improvements in the quality of care, I also know that many of those same challenges still exist. After my visit to the Warrior Transition Unit at Fort Carson last week, I am especially concerned about reports of overmedication and substance abuse among injured service members and about delays in the disability evaluation process. I spent a few hours talking with separate groups of WTU soldiers, cadre, and clinicians in very frank discussions about their experiences and concerns. I heard positive stories too--of men and women facing life-changing injuries who said they couldn't have gotten back to active duty without the help of the WTU. Our young men and women have a heavy burden--they are fighting two wars, often serving multiple tours of duty in Iraq and Afghanistan. We owe them the best care possible when they are injured, and I know the Army--from General Casey to the youngest privates who are watching out for their team mates--are working hard to provide this care. This will be especially important now at Fort Carson as the 4th Brigade Combat Team, 4th ID begins to come home. A few hundred of the brigade's 3800 soldiers have returned so far, with another few hundred due home today and more due home in the coming weeks. These soldiers have been in Afghanistan for the last year, assisting the Afghan National Army with security, governance and peacekeeping operations in Kunar province, on the Pakistani border. The need to provide resiliency training and specialized care for our soldiers continues before, during, and after deployments. Fort Carson's Mobile Behavioral Health Teams have already identified about 920 soldiers of the 4th BCT--approximately one-quarter of the brigade--as having risk factors for depression or anxiety, exacerbated by their sustained combat, who will receive additional evaluations after returning home. About 100 of the Brigade's soldiers are expected to join Fort Carson's Warrior Transition Unit upon their return. Major General Perkins and his team at Fort Carson have worked hard to get in front of behavioral health issues, initiating this program to put behavioral health teams in with the units and work with them even before they return home so that we can identify soldiers who need help. As the 4th BCT comes home, I want to take a moment to remember the heroes that we lost in Afghanistan. Fifty brave soldiers from this unit and supporting units have died in the past year. Those who have fallen, their families, and their fellow soldiers will not be forgotten. Here are their names: Steven Thomas Drees Gregory James Missman Jason John Fabrizi Randy L.J. Neff, Jr. Joshua James Rimer Patrick Scott Fitzgibbon Richard Kelvin Jones Jonathan Michael Walls Matthew Lee Ingram Matthew Everett Wildes Youvert Loney Randy Michael Haney Tyler Edward Parten David Alan Davis William L. Meredith Justin Timothy Gallegos Christopher Todd Griffin Joshua Mitchell Hardt Joshua John Kirk Stephan Lee Mace Vernon William Martin Michael Patrick Scusa Kevin Christopher Thomson Kevin Olsen Hill Jesus Olar Flores, Jr. Daniel Courtney Lawson Glen Hale Stivison, Jr. Brandon Michael Styer Kimble Andrus Han Eric Nathaniel Lembke Devin Jay Michel Eduviges Guadalupe Wolf Jason Adam McLeod Kenneth Ray Nichols Jr. Elijah John Miles Rao Brian Robert Bowman John Phillip Dion Joshua Allen Lengstorf Robert John Donevski Thaddeus Scott Montgomery, II Bobby Justin Pagan John Allen Reiners Jeremiah Thomas Wittman Michael David P Cardenaz J.R. Salvacion Sean Michael Durkin Michael Keith Ingram, Jr. Grant Arthur Wichmann Nathan Patrick Kennedy Eric M. Finniginam Each of these soldiers served with honor, valor, and pride in the mission. While we mourn those who fell, we will forever honor their memories, and we take great pride in the courage, determination, and heroism of the entire 4th Brigade Combat Team and its supporting units. Under the exemplary leadership of Colonel Randy George and Command Sergeant Major Sasser, the 4th BCT has achieved remarkable success in some of the most hostile terrain on earth. Their efforts clearly illustrate why Fort Carson is known as ``The Home of America's Best.'' On behalf of all Coloradans, I say ``welcome home, heroes, and thank you.''

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, today I am introducing a bipartisan bill along with my colleague Senator Collins entitled the Streamlining Energy Efficiency for Schools Act of 2010. This bill is designed to streamline the Federal Government's efforts to improve the health and efficiency of our schools, while creating much-needed jobs in the process. I am pleased that Senators Burris, Merkley and Murray are also joining us as original cosponsors of this bill. For the past year I have been travelling across Colorado as part of a work force tour to talk directly to Coloradans and hear their innovative policy ideas to create jobs. These ongoing efforts help me identify ways the Federal Government can help or is not as effective as it can be in supporting economic development and meeting our national energy goals. The Streamlining Energy Efficiency for Schools Act of 2010 comes directly from visiting with Coloradans. This bill is just one of several job-creation proposals developed after I hosted an Energy Jobs Summit in February in Colorado. There are numerous Federal programs and funds already available to schools to help them become more energy efficient. However, schools face a morass of programs and agency offices across the government and it is challenging for schools to take full advantage of them. This bipartisan bill will force the government to coordinate their efforts so that schools are less confused and they can better navigate the existing federal programs and financing options available to them. Put simply, it will streamline the Federal Government while still leaving decisions to the states, school boards and local officials to determine what is best for their schools. I have had a longstanding interest in energy efficiency technologies. These technologies further our national goals of broad-based economic growth, environmental protection, national security, and economic competitiveness. I have also been a long-time champion of energy efficiency in our schools, introducing and co-sponsoring many bills over the years in the House of Representatives that promoted the efficient use of energy by our schools. I have seen these energy efficient buildings first hand when traveling in Colorado. It is good to see that there are schools in my state that are already incorporating this technology into their buildings. For example, the Cherry Creek School District in Greenwood Village, CO, has incorporated day lighting techniques and ice storage to cool the buildings during the day. Because of these innovative improvements, the school district has enjoyed significant cost savings. This is good news not just for Colorado students, but also for Colorado taxpayers. In another example, Colorado's Poudre School District in Fort Collins, CO, actively promotes sustainable design guidelines, calling it their ``Ethic of Sustainability.'' This program includes an elementary school in Fort Collins that actually uses recycled blue jeans as insulation for the school buildings. This school has a ``Truth Wall,'' an exposed cross-section where kids can see the denim at work, look at pipes and electrical systems, and check school energy use. I hope that in passing this bill we will see more examples of these successful and creative projects across the country--projects that will increase the efficiency of our schools and teach our students about the importance of saving energy. Through effective use of existing Federal Government programs and financing options, schools can reduce costs and create jobs at the same time becoming more energy efficient. Though it is often overlooked, energy efficiency is a huge job creator. Not only does it create jobs through the purchase and installation of efficient materials, it frees up scarce school finances to retain teachers and important programs. What excites me most about this bill is that it will create jobs for Americans in every neighborhood where schools improve their energy efficiency. Right now, creating jobs is priority one for all of us. But additionally, this bill helps reduce barriers to schools wishing to incorporate innovative energy efficiency measures, and creates a simple, streamlined structure to allow schools to more effectively use existing Federal funds and programs--at a low cost. These cutting edge actions--which we are all seeing across our states--are making government more efficient and saving taxpayer dollars, a goal we all share. I urge my colleagues--of both parties--to join me in supporting this bipartisan legislation.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Madam President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. UDALL of Colorado. I ask unanimous consent that Senators Schumer and Levin be added as original cosponsors to amendment No. 4016.

Mr. UDALL of Colorado. I thank them for their support. I also want to first thank Senators Lugar and Bond for the efforts they brought forth, along with those on our side, for this important amendment. This amendment will make it a fact of life that individual Americans can more easily access their credit score. I have come to the floor of the Senate on a number of occasions over the last week to push for an important change in the world of credit bureaus and credit reports and now credit scores. A credit score impacts consumers' interest rates, monthly payments on home loans, and can even affect a consumer's ability to buy a car, rent an apartment, and get phone or Internet service. I have been working with Chairman Dodd, the Treasury Department, the Federal Reserve, and other colleagues in the Senate to reach a compromise that will help us achieve those objectives I just outlined. I am very pleased to say I think at this fairly late hour on a Thursday that we have agreed to an approach that will give millions of Americans unsolicited access to their genuine credit score. I have talked about the difference between the score and the report. The report is a valuable tool, but unless people have their score they do not know where they stand. Our bipartisan amendment will build upon existing law and require disclosure of credit scores to consumers whenever their credit score is used against them. So under our amendment, if they are turned down for credit because of their credit score, which is not an unusual occurrence, frankly, they have the right to see the credit score that was used against them. Under this amendment, if they are charged a higher interest rate or get less favorable terms on a loan because of their score, they will also receive notification of that score. So this amendment, again, for which we have bipartisan support, corrects one of the inequities in our financial system which keeps Americans from accessing this very important tool that, frankly, I think is as important as their health statistics: their blood pressure, heart rate, and so on. But people have not been able to access that credit score. So there is a fundamental principle that is at stake. If their credit score is being used against them, they ought to have the right to at least see it. This Wall Street accountability package we are considering, at the heart of it--I think the Senator from New Hampshire knows this--we want to give Americans more tools so they are more financially literate. They can take control of their financial future. So the best part of this amendment is that consumers will receive notification of their score without any red tape. This is good government. It is pure transparency reform that will empower Americans, as I have said, with critical information about their financial health. This makes common sense. Let's put Americans in charge of their financial future. So as I close, I thank, in turn, Chairman Dodd, Senator Lugar, Senators Levin, Bond, Schumer, Begich, Lautenberg, and all of the 20-plus additional Senators who helped push for this important reform. I especially thank Senator Pryor who has worked with us to find something everyone can agree on. I look forward to this amendment being called up later, and I urge all colleagues to support this commonsense reform that will give Americans control over their financial futures. I suggest the absence of a quorum.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, today I am introducing a bipartisan bill along with my colleague Senator Collins entitled the Streamlining Energy Efficiency for Schools Act of 2010. This bill is designed to streamline the Federal Government's efforts to improve the health and efficiency of our schools, while creating much-needed jobs in the process. I am pleased that Senators Burris, Merkley and Murray are also joining us as original cosponsors of this bill. For the past year I have been travelling across Colorado as part of a work force tour to talk directly to Coloradans and hear their innovative policy ideas to create jobs. These ongoing efforts help me identify ways the Federal Government can help or is not as effective as it can be in supporting economic development and meeting our national energy goals. The Streamlining Energy Efficiency for Schools Act of 2010 comes directly from visiting with Coloradans. This bill is just one of several job-creation proposals developed after I hosted an Energy Jobs Summit in February in Colorado. There are numerous Federal programs and funds already available to schools to help them become more energy efficient. However, schools face a morass of programs and agency offices across the government and it is challenging for schools to take full advantage of them. This bipartisan bill will force the government to coordinate their efforts so that schools are less confused and they can better navigate the existing federal programs and financing options available to them. Put simply, it will streamline the Federal Government while still leaving decisions to the states, school boards and local officials to determine what is best for their schools. I have had a longstanding interest in energy efficiency technologies. These technologies further our national goals of broad-based economic growth, environmental protection, national security, and economic competitiveness. I have also been a long-time champion of energy efficiency in our schools, introducing and co-sponsoring many bills over the years in the House of Representatives that promoted the efficient use of energy by our schools. I have seen these energy efficient buildings first hand when traveling in Colorado. It is good to see that there are schools in my state that are already incorporating this technology into their buildings. For example, the Cherry Creek School District in Greenwood Village, CO, has incorporated day lighting techniques and ice storage to cool the buildings during the day. Because of these innovative improvements, the school district has enjoyed significant cost savings. This is good news not just for Colorado students, but also for Colorado taxpayers. In another example, Colorado's Poudre School District in Fort Collins, CO, actively promotes sustainable design guidelines, calling it their ``Ethic of Sustainability.'' This program includes an elementary school in Fort Collins that actually uses recycled blue jeans as insulation for the school buildings. This school has a ``Truth Wall,'' an exposed cross-section where kids can see the denim at work, look at pipes and electrical systems, and check school energy use. I hope that in passing this bill we will see more examples of these successful and creative projects across the country--projects that will increase the efficiency of our schools and teach our students about the importance of saving energy. Through effective use of existing Federal Government programs and financing options, schools can reduce costs and create jobs at the same time becoming more energy efficient. Though it is often overlooked, energy efficiency is a huge job creator. Not only does it create jobs through the purchase and installation of efficient materials, it frees up scarce school finances to retain teachers and important programs. What excites me most about this bill is that it will create jobs for Americans in every neighborhood where schools improve their energy efficiency. Right now, creating jobs is priority one for all of us. But additionally, this bill helps reduce barriers to schools wishing to incorporate innovative energy efficiency measures, and creates a simple, streamlined structure to allow schools to more effectively use existing Federal funds and programs--at a low cost. These cutting edge actions--which we are all seeing across our states--are making government more efficient and saving taxpayer dollars, a goal we all share. I urge my colleagues--of both parties--to join me in supporting this bipartisan legislation.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, I ask unanimous consent that the Senate proceed to executive session to consider en bloc the following nominations on the Executive Calendar: Nos. 832, 833, 834, and 835; that the nominations be confirmed en bloc, that the motions to reconsider be considered made and laid on the table en bloc, that any statements relating to the nominations be printed in the Record, the President be immediately notified of the Senate's action, and the Senate then resume legislative session.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, I rise today to speak about a bipartisan amendment which Senator Lugar and I have filed based on our bill, the Fair Access to Credit Scores Act of 2010. This amendment is cosponsored by 17 of our colleagues from both sides of the aisle, which I have to say is a rare bipartisan piece of legislation. Our amendment corrects one of the fundamental inequities in our financial system by giving Americans free annual access to their credit score. The problem is that most people have been misled to believe that people have access to a free credit score, but that simply is not true. They only have access to their report. A credit report tells consumers what outstanding credit accounts they have open, such as student loans or credit cards, perhaps a car or home loan. Unfortunately, it tells Americans little else. On the other hand, your credit score, which our legislation makes available, has the critical information consumers need to know. This score is the very first point of entry into our entire financial system which rates each and every one of us. It is a number that banks, lenders, and large financial firms have easy access to, while hard- working Americans--the engine of our economy--do not have access to it. A credit score affects consumers' interest rates, monthly payments on home loans, and can even affect a consumer's ability to buy a car, rent an apartment or get phone or Internet service. They can be paying interest rates on their home loan, car loan, or student loan which are two to three times higher because of their credit score. This inequity absolutely needs to be fixed if Americans are to take control of their finances. How do we expect them to do that if they do not know if their credit score is bad or good? Mr. President, I will be insisting on a vote because we must put consumers back in control of their finances by offering Americans annual access to their credit score when they access their free annual credit report. I know lobbyists have been calling everyone in the Capitol. These credit reporting agencies have misled Americans for years, and now their lobbyists are trying to mislead my colleagues in the Senate. They are making calls and asking Members to fight this transparency and coming up with all sorts of phony arguments. The truth is, this amendment accomplishes what the television commercials and their fine print have claimed for years--the offer of a free credit score. Our bipartisan amendment would simply require that a credit score be included when a consumer accesses their free annual credit report once per year from each agency. This would provide some context for consumers who access their free annual credit report and allow them to take responsibility for their financial situation. Since we filed this amendment--and I want to thank the Presiding Officer who has joined me on this amendment--credit reporting agencies and their lobbyists have been hard at work perpetuating fine-print arguments. They claim our amendment would confuse consumers; that the information belongs to the agency and not the people; and they have even been threatening Members it will cost them jobs in their particular State. I don't have to tell those watching and my colleagues that those arguments are overstated and are really no grounds for keeping Americans from having access to their individual credit score. According to credit reporting agencies and their lobbyists, providing a free score for transparency and therefore a sense of financial standing simply would distract and confuse the American consumer. How can they say these scores would confuse Americans, even though they are happy to sell them that same information? These same lobbyists we are discussing also claim that credit scores belong to them. In other words, a credit score to gauge the creditworthiness of a consumer, based upon their personal information, is the property of the credit reporting agency, not the consumer. So, in other words, they are making the argument it belongs to the agency, not to the individual who creates the credit score. I can't help but wonder: Would a doctor say someone's blood pressure reading is their information, not their patient's? I have to say I am disappointed to hear these credit reporting agencies are even making the suggestion that this amendment might result in job losses in their particular States. These are tough times, and who wouldn't be moved by the argument about jobs. But what they do not tell you when they make that argument is that they opposed the 2003 law that required disclosure of consumers' credit reports and the industry has tripled its business since that time. It has tripled because consumers have gotten engaged. They care about those credit reports. And I would predict that if we have free credit scores, it will only enhance the interest of consumers to have additional financial literacy. Talking about jobs, I have some of these jobs in my State, but I don't consider deceptive practices and keeping Americans from their personal information to be a kind of jobs program. In fact, if anything, not knowing your credit score could be the greatest threat to employment for any given individual. Employers are increasingly using this information to decide whether to hire one person over another. I came to the Senate floor yesterday to speak about the frequent television commercials and Internet advertisements we have all seen which falsely claim to offer consumers free access to their credit score. Their ads clearly indicate to Americans that their credit score is critical information. What they do not tell you--and I know the Presiding Officer shares some personal experiences with me on this account--is that they want to lure you into a costly monthly monitoring service that can cost hundreds of dollars a year. What is comical about all this is that credit reporting agency representatives are walking the Halls of Congress as I speak telling Members that our bill is somehow unfair and unfounded. They want to protect a Federal law that has given them a monopoly on these scores and continues to direct unwitting consumers their way. They are using the same tactics of confusion and misdirection to fight our amendment. We agree with the credit reporting agencies that a credit score is important information, and perhaps their misleading ads, if anything, have convinced consumers they need to know this information. However, luring Americans into a costly credit monitoring service is simply not fair. As I begin to close, I want to say that we have all come to the floor this week from both sides of the aisle explaining that what we want to do is to protect consumers and to do what is right for Main Street in this important and historic bill we are considering. We have a chance to right this wrong here and now. That is why the Consumer Federation of America, Third Way, the Consumers Union, and a wide range of consumer advocates support this legislation. While free access to a consumer's credit score is only a small part of the larger reforms that are needed, it addresses one of the fundamental inequities that pervade the financial system. I wish to thank a group of bipartisan Senators who have held strong amidst the lobbying blitz by these large multibillion-dollar entities to stand with consumers and cosponsors of my bipartisan amendment. That list includes Senators Lugar, Bond, Cochran, Brown of Massachusetts, Schumer, Lieberman, Levin, Hagan, Brown of Ohio, Shaheen, McCaskill, Lautenberg, Menendez, Tom Udall, Gillibrand, Burris, and Begich. I hope and expect more Members will join us in cosponsoring this amendment and vote for it when it comes up for a vote.

Mr. UDALL of Colorado. Mr. President, are we in morning business?

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President. I rise to speak about a bipartisan amendment, No. 3778, which Senator Lugar and I have filed based on our bill, the Fair Access to Credit Scores Act of 2010. This amendment has wide and growing support, both with consumer groups and legislators of all political persuasions. I thank Senators Bond, Brown of Massachusetts, Brown of Ohio, Hagan, Levin, Lieberman, McCaskill, and Shaheen who are also sponsors of this amendment. Our amendment takes a commonsense yet significant step toward putting consumers back in control of their finances by offering Americans annual access to their credit score when they access their free annual credit report. I wish to clarify, because this is important. A credit report tells consumers what outstanding credit accounts they have open, such as student loans, credit cards, even, perhaps, a car or a home loan. Unfortunately, it tells Americans little else. One's credit score, on the other hand, which our legislation makes available, has the critical information consumers need to know. A credit score affects consumer interest rates, monthly payments on home loans, and could be the difference between whether a child is able to afford college. Credit scores even affect the consumer's ability to buy a car, rent an apartment, and get a phone or even Internet service. In 2003, Congress enacted legislation requiring the three major consumer credit reporting agencies to provide a free annual credit report to consumers. This law, known as the FACT Act, was an important step in ensuring financial records of American consumers are accurate. However, since that time, many of my constituents have been misled to believe they have free access to their credit score, when what they have is free access to a credit report. So we have the score versus the report. Even thoughtful lawmakers in Congress do not realize American consumers ultimately have to buy access to their credit score. To be clear, banks and lenders can easily obtain these scores while consumers cannot. That simply is not fair. We have all seen the frequent television commercials or Internet advertisements which claim to offer consumers free access to their credit score. Unfortunately, consumers are often disappointed to learn they only have access to their credit report, not the critical information they need to judge their own creditworthiness, their score. In the most troubling cases, consumers often believe they are signing up to get a free credit score, only to find out later that they unwittingly signed up for a costly monitoring service that could cost nearly $200 a year. In considering reforms to hold Wall Street accountable and rein in their shady dealings, we believe Congress should also work to protect consumers from other unscrupulous financial practices. When there is a deal that often seems too good to be true, many Americans ask themselves: What is the catch. There certainly is a catch in this instance. The problem is that Federal law tacitly supports it by directing consumers to credit rating agencies under false pretenses. We all know consumers want their score, but it is the last thing they receive. We are literally sending Americans every day into a fine print trap. I am not surprised the credit reporting agencies and their lobbyists have been hard at work over the last several days perpetuating fine print arguments in opposing our amendment. They even claim credit scores belong to them, not the consumers whose livelihoods depend on them. Would a doctor say that someone's blood pressure reading is their information, not the patient's? These agencies have also been circulating a document opposing our effort because, according to them, it would not provide consumers any greater benefit than already available. Something is up. They oppose our bill because it does not offer consumers enough benefits. This is precisely the kind of misleading information included in their advertisements, as we see here in this photograph. This snapshot does not fully reflect the deception in this particular ad. It does picture a squirrel directing consumers to one of the Web sites claiming to offer a free credit score. But there is more to the story. While it patently seems to offer a free score, this credit reporting agency requires consumers to enter their credit card information and registers them for a costly credit monitoring service. We have to look closely at the top of the ad to read the fine print that actually tells consumers the real story. They have to subscribe to the company's service to receive the actual credit score. Members have probably seen this commercial which tells a sad story about an individual whose poor credit score landed him in a dead-end job. If only he had access to his credit score, the ad explains with a catchy jingle, he would have been able to take action and improve his credit and his quality of life. Again, we have to look closely to read the fine print. If the consumer goes to this site, they once again have to enter their credit card information and register for a service costly of nearly $200 a year. It says: Free credit score and report with enrollment in Triple Advantage. Ironically, these credit reporting agencies are walking the halls of Congress telling Members that our bill is somehow ``unfair and unfounded.'' They want to protect a Federal law that has given them a monopoly on this information and continues to direct unwitting consumers their way. We agree, those of us who have sponsored this legislation, with these credit reporting agencies that a credit score is important information. Perhaps their misleading ads have convinced consumers they need to know this information. However, luring hard- working Americans into a costly credit monitoring service is simply not fair, especially when Federal law nudges consumers in their direction. We have all come to the floor this week from both sides of the aisle explaining what we want to do to protect consumers and do what is right for Main Street. We have a chance to right this wrong here and now, this week. Put simply, this amendment accomplishes what the television commercials and their fine print caveats have deceptively claimed for years--the offer of a free credit score. That is why the Consumer Federation of America, the Consumers Union, and a wide range of consumer advocates support this legislation. While free access to a consumer's credit score is only a small part of the larger reforms needed, it addresses one of the fundamental inequities that pervades the current financial system. Put simply, our one-sided marketplace today is often rigged to benefit large financial institutions at the expense of hard-working Americans struggling to support their families and save for retirement. If we want to empower Americans to reclaim their financial health, we have to start with a dose of transparency. When so much is at stake, this amendment is a small step that will help restore balance and give Americans the tools they need to take back control of their personal finances. My strong hope is that we will be able to vote on this important amendment in order to restore an even greater dose of fairness to consumers in my state of Colorado and all around the Nation. I urge and request that each one of my colleagues support its passage.

Mr. UDALL of Colorado. I thank the Banking Committee chairman for his interest in this bipartisan amendment. I take to heart his comments on the importance of having access to one's credit score. We all have access to our credit reports. Those are important. But frankly, one ought to understand what is in their credit report. It is the loans, the financial obligations and liabilities one has. It is much harder to get one's credit score. We hear a lot about financial literacy, about taking control of one's own destiny when it comes to their financial future. This would be an important tool to have in the hands of consumers. The agencies and the institutions that develop these scores are saying, as I said, that this is unfair and unfounded. But they have found, frankly, when they made the credit reports available on a one- time basis annually for free, it actually created more traffic and more business. I predict that when you get your score that one time each year for free, you will want to check over time on that score, and that will create additional business for these companies. Much like when I to go my ATM, I am always curious about the flow in and out of my checking account. Sometimes I check the last ten transactions. That results in a little bit of income stream to the bank. I don't resent that because I have the information at hand. When I was given the opportunity to have that information initially, that triggered a greater interest in being more financially engaged. This is common sense. Its bipartisan support shows there is widespread support for this idea. I thank the chairman again for his interest and support. I yield the floor.

Mr. UDALL of Colorado. I ask unanimous consent that the order for the quorum call be rescinded.

Mr. UDALL of Colorado

Mr. UDALL of Colorado. Mr. President, I rise today to speak about the critically important legislation before the Senate, the bill to reform Wall Street and end the excesses that sent our economy into a tailspin. Having made the tough choice to fend off a collapse of our economic system, we must now look back and decide what actions are required to hold Wall Street accountable and put consumers back in control of their finances. This Congress has taken decisive action to stem the bleeding, actions that were not always comfortable, but were necessary. And our economy is starting to heal. Yet we remain at a seminal moment in history. One tenth of our population remains unemployed, the threat of home foreclosure haunts far too many families, and American seniors are scrambling to replenish what were once considered their retirement accounts. The fault for this economic decline, however, does not lie at the feet of the working class nor reflect the steady strength of American ingenuity. Instead, the Wall Street bailout, and the threat of global economic depression that necessitated it, was thrust upon us by those who put short-term self-interest above the economic security of a nation. It is an unpleasant fact to admit. But the current financial system all too often rewards greed and recklessness, fans speculative trading, and has fostered shady dealings that are so complicated that only those Wall Street firms that stand to benefit can comprehend them. Compounding this, consumers have found themselves on the losing end of these deals. Wall Street executives have taken excessive risks, knowing a sweetheart contract, bonus or stock option will cover their losses while stockholders are left empty handed. Nearly one quarter of Americans have found themselves with home mortgages they struggle to afford, while the lender's commission has long been spent. And, American consumers have to jump through hoop after hoop and ultimately pay to have access to their own credit score, while banks and lenders can easily obtain this information to hike their annual interest rate or monthly payment. Don't get me wrong, I am the first to recognize that our financial sector historically has played a driving role in the growth of our economy. In many instances, Wall Street's ingenuity has spurred solid investment and helped U.S. businesses compete world-wide. But we cannot ignore the plain fact that transparent investing and fair business dealings seem to be the exception, rather than the rule. In one recent example, the U.S. Securities & Exchange Commission alleged that Goldman Sachs realized that the only way out of bad securities was to sell them to unwitting investors. This investigation is rapidly expanding to other financial firms and products, and is symptomatic of how out of touch Wall Street has become with the American workers who are the real engine of our economy. As the 2008 collapse washed away nearly half of Americans' savings and investments, these same taxpayers were on the hook to finance Wall Street's rescue. I understand the anger of Coloradans and Americans all around the country, many who felt that the big banks should have been left to fail. So our constituents have asked us: Please reform the current laws so that this does not happen again. Please hold Wall Street to the same rules that hardworking families and small businesses are held to. But now, as the economy recovers, slowly adding jobs and allowing families to rebuild their savings and retirement portfolios, Wall Street is reporting record profits and its executives are again pocketing record bonuses. It is time to put American consumers back in control of their financial future. We must hold Wall Street accountable and create a financial system that works for all Americans, not just rich executives. The legislation that we are trying to bring up for debate this week does just that. With Senator Dodd's leadership, the Wall Street Accountability Act will: Safely regulate the shadow markets and the hidden side-bet financing that escaped the regulatory radar and allowed financial firms to engage in the risky and irresponsible behavior that wiped out trillions in family savings. The bill will hold big banks and financial institutions accountable for the bad decisions they make, and make them plan ahead to deal with their losses to ensure that taxpayers are never again responsible for bailing out a financial firm that is deemed too big to fail, like AIG. The bill will also hold Wall Street accountable by giving consumer shareholders new power to prevent excessive bonuses that reward executive failures, while average Americans are left holding the bag. Complementing the credit card bill I introduced in the House of Representatives several years ago and legislation Congress passed last year, this bill forces big banks and credit card companies to provide clear, understandable information to consumers. This bill will also hold the nonbank lending industry to the same sort of standards as the traditional banking industry. Finally, this bill will start to change the culture of Wall Street by instilling new transparency and accountability rules to ensure that complicated financial derivative transactions take place in an open marketplace. This legislation provides what our friends, neighbors, and family members for years have been demanding, a system that is designed for them, rewards hard work, and is grounded in the kind of business integrity that Americans every day certify with a handshake. In short, Americans back in control of their financial well-being. That is why, in addition to the reforms we will be discussing this week, I introduced legislation last week with bipartisan support to put everyday Americans back in charge of their finances by giving consumers free access to their credit score. I thank Senators Lugar, Menendez, Lieberman, Levin, Hagan, Shaheen, Klobuchar, Tom Udall, and Scott Brown for joining me in putting consumers first by cosponsoring this commonsense legislation, which has the support of a wide range of consumer groups. Today, in looking back on the mistakes of the past and the imbalances that still disadvantage consumers, Americans deserve a Congress on their side. Yet some here appear to still support a risky system where Wall Street can act with impunity and get bailed out when things go bad. They want to protect speculators at the expense of consumer protections and shield financial institutions from rules that would avert taxpayer- financed bailouts. I am here to say that those days are over. We must hold Wall Street accountable and we cannot let the status quo persist. A few blocks from here outside the Federal Trade Commission stands a pair of statues, each depicting a heroic figure straining to control a powerful horse. They were erected under the Roosevelt administration as an emblem to Americans from all walks of life that fair business practices would serve to further the common good of all. Well, I have news: Under our current system, the reins have been released when it comes to Wall Street. And now some 70 years later here we are, at a similar point in history. We must stand together once again as a nation committed to sound investing, transparent business dealings and an economic system that puts consumers first. This debate is about choices, and the American people have a clear choice. There are a lot of us here who want to get to work. But the vote we just took tonight also showed that some in this institution are willing to filibuster and delay to prevent the Senate from even debating Wall Street reforms. It is clear to me and clear to Coloradans that a vote against even having this debate is a vote to protect Wall Street at the expense of hard-working Americans. Too much is at stake to let this delay persist. President Roosevelt said in 1932, ``Never in history have the interests of all the people been so united in a single economic problem.'' Once again, as we did 70 years ago let us get to together put in place protections against the Wall Street excesses that threaten our economic stability.