Chris Van Hollen

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, I rise to introduce the Afghanistan- Pakistan Security and Prosperity Enhancement Act. The legislation is aimed at protecting our national security and that of our allies in the fight against Al-Qaeda and the Taliban. I am pleased to be joined by Mr. Hoekstra, Mr. Levin, Mr. Kirk, Mr. Burton, Mr. Smith (WA), Mr. Crowley, Mr. Moran, Mr. Ackerman, Mr. Welch and Ms. Jackson-Lee. Senator Cantwell has introduced the companion measure in the Senate. This bill authorizes the President of the United States to designate Reconstruction Opportunity Zones, ROZs, in Afghanistan and in certain areas of Pakistan. Qualified businesses operating in those zones will gain duty-free access to U.S. markets for designated products, thereby providing significant employment opportunities where few currently exist. A ROZ program could go a long way toward bolstering economic development in this critical region of the world where extremists have tried to exploit the lack of economic opportunities to gain recruits for their radical agenda. The 9/11 attacks against the United States resulted from Al-Qaeda exploiting a safe haven in Taliban controlled Afghanistan. We cannot allow this to happen again. These extremists pose a threat to the people of Afghanistan, Pakistan and the United States. I commend President Obama for his focus on the threat that this region poses to our national security. I am pleased that the President and Secretary Clinton have appointed a seasoned negotiator, Ambassador Holbrooke, as the Special Representative for Afghanistan and Pakistan. U.S. and NATO forces are essential to confronting the threat. However, the President has recognized that the threat cannot be neutralized by military force alone. We need a comprehensive strategy to deal with these countries. Such a plan must include programs to expand the economic opportunities of the people in this region. Towards that end, hopefully Congress will revisit the foreign assistance bill that was introduced by Senators Biden and Lugar in the last Congress. The Reconstruction and Opportunity Zone bill that we are introducing today is another vital tool to bolster these economies. In my recent trip to Afghanistan and Pakistan, the importance of this ROZ bill was specifically raised by Presidents Zardari and Karzai. I urge the House to pass this bill quickly to assist these countries in achieving economic sustainability.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, I am glad we are finally wrapping up our FY 09 Appropriations work and offer this legislation my full support today. Instead of slashing our federal investment in priorities like education, health care, energy, law enforcement and biomedical research as President Bush had demanded, this bill complements the economic recovery package by addressing our Nation's immediate needs while laying the foundation for long term economic growth. For example, to help 6.9 million families pay for college and prepare our students to compete in the 21st century global economy, we allocate $17.3 billion--or $3 billion more than 2008--for Pell Grants. To provide health care for over 470,000 uninsured Americans during this economic downturn, we provide $2.2 billion--or $125 million above last year's levels--for our community health centers. To accelerate the deployment of renewable energy technologies and the jobs that go with them, we include $18.5 billion in additional loan guarantee authority for renewables in the Department of Energy's Innovative Technology Loan Guarantee Program. To keep our communities safe, we designate $3.2 billion--or $495 billion above 2008--for State and local enforcement. And to ensure that America remains the global leader in lifesaving biomedical research, we invest $30.3 billion--or $938 million more than last year--in the National Institutes of Health. Mr. Speaker, it has been a long time coming, but we now see it was worth the wait. I will cast a ``yes'' vote and urge my colleagues to do the same.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, I rise today to introduce the Teaching Geography is Fundamental Act, a bill to help ensure that all young people acquire the vital global knowledge they need to compete in today's increasingly-connected world. I thank my colleagues, Representatives Blunt, Walz, and Ehlers, for their leadership and hard work on this issue. Madam Speaker, our nation is facing a crisis in geographic knowledge. Sixty-three percent of young adults cannot locate Iraq on a map of the Middle East. Seventy-five percent cannot find Iran. Half cannot locate New York on a map of the United States. These statistics are emblematic of a general lack of knowledge about the world that is troubling in a time when the United States must compete in a global marketplace. We need Americans to know and understand the countries and cultures that are or could become our political and economic partners. It is unacceptable that seventy-one percent of young Americans do not know that the United States is the world's largest exporter of goods. It is unacceptable that, despite the fact that it is the world's largest democracy, nearly half of young adults do not know where India is located. We need to improve our children's understanding of their world both within and beyond our country's borders. The Teaching Geography is Fundamental Act will do just that. It would authorize federal funding to improve student achievement, increase teacher training, encourage education research, and develop effective instructional materials and strategies for geography education. It will leverage and expand support for geography education partnerships. And it will prepare America's students to move forward and succeed in a rapidly-changing, competitive, global economy. It is time to be sure that American citizens are informed citizens of the world. I ask my colleagues to join Congressmen Blunt, Walz, Ehlers, and me and support the Teaching Geography is Fundamental Act.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, today we stand shoulder to shoulder with President Obama to say to the American people, help is on the way. This package packs a punch where it's needed most: ready-to-go infrastructure projects, tax relief for middle America and small businesses, essential forward-looking investments in areas like clean energy, health IT, scientific research and education, priorities that will create or save millions of jobs in this country. Now, throughout this debate we've heard from those who, for a variety of reasons, think we should do nothing. While those voices may be sincere, inaction is not an option. Just say no is not an answer to the American people at this time. And if our colleagues on the other side of the aisle want to define themselves as the party of ``Nobama'' I think that the American people will call them and say it's time for us to work together. There are also those that say we should do this through tax cuts alone. And they propose substituting a middle class tax cut package with a tax package that once again benefited those who are relatively well off. We don't need more of the same. We need to put this country to work. I urge adoption of this legislation.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, it is with a sense of urgency that I reintroduce the Keep Our Promises to America's Children and Teachers Act at the beginning of the 111th Congress. I offer the Keep Our PACT Act today to help meet the aspirations of our nation's school children--and to help provide all of their teachers and schools with the resources they need to help them achieve those aspirations. Additionally, I offer this bill as a reminder to those of us in government of the importance of keeping our promises and of truly making education a priority. Put simply, the Keep Our PACT Act would put Congress on a fiscally responsible path to fully funding the No Child Left Behind Act and the Individuals with Disabilities Act--on a mandatory basis, once and for all. Madam Speaker, since 2002, Title I of NCLB--the funding that goes to our highest-need students--has been funded at $54.7 billion below its authorized level. Currently, approximately 4.3 million students are not getting the extra Title I help they were promised. Furthermore, since IDEA's reauthorization in 2004, IDEA Part B has been funded at $20.3 billion below its authorized level and funding has never reached even half of the 40 percent average per pupil expenditure the government originally promised states more than 30 years ago. We need to keep our commitments to education, support our schools and provide all of our students with resources they need to succeed. Madam Speaker, once again I am proud to make the Keep Our PACT Act the very first piece of legislation I introduce this Congress. Additionally, I want to thank my colleagues joining me as original cosponsors on this bill today. We pledge to stand for the fundamental values this bill represents and invite Members from both sides of the aisle to embrace those values and get this bill passed.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, I rise in support of The DTV Delay Act. Two weeks from today, all full-power television broadcast stations are required to terminate analog signals and transmit only in digital. Congress mandated the transition to digital in response to requests by police, firefighters, and emergency personnel for the increased radio spectrum necessary for reliable, interoperable communications. To help Americans prepare for the transition and to offset the associated cost for consumers, Congress established the TV Converter Box Coupon Program. But the program underestimated the number of requests for coupons and ran out of money. As a result, many Americans have not received coupons and are unprepared for transition. Today 1.8 million households are on a waiting list to receive more than 3.3 million converter box coupons. Though funding was inserted in the Stimulus Package to pay for more coupons, unless the February 17th conversion date is delayed, few of these Americans will be able to receive their coupons and purchase their converter boxes in time. The DTV Delay Act will help the Coupon Program to honor requests for coupons and enable those whose coupons may have expired, to receive new ones. The bill does this by delaying the transition date to June 13th, 2009 and extending the period that the Coupon Program may operate until July 31st 2009. According to the Nielsen Company, 6.5 million households will lose all TV reception on February 17, 2009. Television is the leading source Americans use to receive critical public safety information, news and entertainment. Yet millions of Americans, including many of the country's most vulnerable groups like seniors, the poor and minorities, still need to take steps to prepare for transition. I encourage my colleagues to join me in support of The DTV Delay Act. The country is not yet prepared for digital transition. This bill will provide the time we need to ensure that all Americans are able to enjoy the full benefits that transition to digital can provide.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, I rise in strong support for the Children's Health Insurance Program Reauthorization Act of 2009. This bipartisan legislation will improve the very successful State Children's Health Insurance Program (CHIP). The message and the substance of this bill is clear--we are going to preserve coverage for the 7 million children currently enrolled who otherwise have no access to health insurance while extending coverage to 4 million children who are from working families who earn too much to qualify for Medicaid, but do not earn enough to afford the very high costs of private health insurance. By reauthorizing this important program through 2013, we will strengthen CHIP's financing, improve the quality of health care children receive, and increase health insurance coverage for low-income children. The Congressional Research Service projects that under this legislation, Maryland's CHIP allotment will increase by 162 percent. The bill is fully paid for by a 62 cent increase in federal excise taxes on cigarettes. Increasing the tobacco tax will save millions of children from tobacco addiction and save billions in health care costs. The 2000 U.S. Surgeon General's report found that increasing the price of tobacco products will decrease the prevalence of tobacco use, particularly among kids and young adults. Just two weeks ago, a new President was sworn into office--President Obama. Passing this bill and sending it to his desk now sends a very important signal that change has come as a result of the last election. President Obama's predecessor twice vetoed this legislation. The new President will sign this legislation into law because he understands the hardships that American families are struggling under at a time when millions of Americans have lost their jobs and lost health coverage for their children. Madam Speaker, let's look out for America's children by providing them the health insurance coverage they deserve. I urge my colleagues to vote for this much-needed legislation.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Chairman, I would like to commend Mr. Platts, Mr. Waxman, Mr. Towns, Mr. Tierney, Mr. Braley and Mr. Price for their work on this important issue. This economic recovery package contains about $550 billion in public funds to support important national priorities. We need to make sure these funds are effectively spent and that they're not lost through any waste, fraud or abuse. The underlying bill provides protection for whistleblowers at the State and local level. What this amendment does is to make sure that our Federal employees also have whistleblower protections so if they see waste, fraud or abuse, they can report it without fear of retaliation or harm. And as Mr. Platts has said, what we're doing is simply putting the Whistleblower Protection Act that passed this body by a vote of 331-94 into this bill to make sure that these public funds are safeguarded and that we ensure accountability in the process. I think all of us would agree, regardless of our position on whether or not we should be putting any particular amount into public investment, we want that money safeguarded and protected against waste, fraud, and abuse. That's what this amendment is about. Mr. Chairman, I reserve the balance of my time.

Mr. VAN HOLLEN. I thank Mr. Reyes, the chairman of the Intelligence Committee, and the ranking member, Mr. Hoekstra. I again want to remind the House this is a bill that has been voted on here before. It passed with a bipartisan majority of 331-94. Nevertheless, Mr. Platts and I have agreed to address the concerns that have been raised by the Intelligence Committee. We will do that in consultation with the Senate and conference committee to make sure that we're all on the same page in agreement with respect to this national security component.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. I thank the chairman, and rise in strong support of this legislation because of the boost it will provide to our ailing economy and the priority investments it makes in our Nation. To struggling families and communities around the country, with the passage of this bill we can say help is on the way. We have heard from economists from all sides of the political spectrum, and they all agree inaction and doing nothing is not an option. We need to join together with our new President, President Obama, and act boldly and decisively, and that is what this legislation does, by directing $825 billion in stimulus where it is needed most, ready-to-go projects to put people back to work, investing in clean energy and the infrastructure we need for the 21st century, and middle- class tax relief for struggling American families so they have a little more breathing room in their budgets. I am especially pleased with the provisions relating to energy efficiency and renewable energy that we have worked on, on a bipartisan basis, loan guarantees for renewable energy projects that are sidelined because of the credit crunch, and new authority for homeowners to retrofit their homes. I urge passage of this legislation.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, I rise in opposition to this resolution of disapproval and will vote no today so that Congress can continue working proactively with President Obama to get our fragile economy back on track. Earlier this week, the House passed the TARP Reform and Accountability Act, which reflects criticism I share over how the first tranche of TARP funds has been administered and imposes significant transparency and accountability reforms on the use of TARP funds going forward. However, if there is one thing economists across the country and political spectrum are now telling us, it is that inaction in the face of our current financial crisis is not an option. The Obama administration, and the reforms outlined in the TARP Reform and Accountability Act, now give us the opportunity to deploy this second tranche of TARP funds more wisely. We should do so.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. I thank my colleague. Madam Speaker, this is a moment of important substance and important symbolism. The substance and merits of this bill are clear. We are going to preserve health coverage for 7 million American children and expand it to another 4 million children from working families who earn too much to qualify for Medicaid, but do not earn enough to be able to afford the very high costs of private health insurance. Taking this bill up right now also sends a very important signal that change has come to Washington, DC as a result of the last election. President Bush twice vetoed this legislation on children's health. We will soon have a new President, President Barack Obama, who as one of his first acts as President will sign this legislation, a President who understands the hardships American families are struggling under at a time when more than 2 million Americans have lost their jobs in just 2 months. The difference could not be clearer. The current President used his mighty veto pen to say ``no,'' to veto and protect the status quo. The new President will use that pen to say ``yes,'' to change the status quo and provide health care to 4 million new American children as we continue to protect 7 million American children. That is change we can believe in.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, I rise today to pay tribute to Claiborne Pell, the great former Senator from Rhode Island. Senator Pell's life was defined by service, from the Coast Guard, to the Foreign Service, to 36 years in the United States Senate. He was a model statesman, willing to listen and compromise but never straying from his commitment to fairness and equality. Senator Pell has left a long list of achievements, but his greatest legacy is the Pell grant, which has opened the doors to college for over 50 million students. He also introduced legislation to create the National Endowment for the Arts and the National Endowment for the Humanities. He was an ardent environmentalist, working to protect oceans from nuclear testing. Those are just a few of Senator Pell's many accomplishments. I would like to turn for a moment to some personal observations. I had the great privilege of working for Senator Pell when I was a member of the staff of the Senate Foreign Relations Committee from 1987 to 1989. He was a man of both grace and principle. He rarely spoke a word in anger, but he didn't retreat from tough issues. He was a gentle soul with a kind word for most. But it would be a grave mistake for anyone to interpret his gentle disposition as a sign of weakness. He was passionate about the issues he cared about and relentless in pursuing them. He was insistent that the United States play a leading role in the world. He believed strongly in attempting to resolve international conflicts through negotiation and diplomacy before resorting to the use of force. His approach may have fallen out of political fashion for a time, but the passage of time has shown the wisdom of his counsel. We have entered an age that is often dominated by 20-second sound bites and partisan political combat. Senator Pell would not have felt as comfortable in this new political environment, nor should he. Rather, we would do better to return to the more, deliberate and gentle ways he brought to the Senate. We have a lot to learn from his example. I will miss him, but our Nation is certainly stronger and better as a result of the life he lived and the legacy he left behind.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, I rise in strong support of the Lilly Ledbetter Fair Pay Act and the Paycheck Fairness Act. As an original cosponsor of both pieces of legislation, I will proudly cast my vote for both bills before us today. The Lilly Ledbetter Fair Pay Act corrects an errant Supreme Court decision in the case of Ledbetter v. Goodyear, which denied a woman named Lilly Ledbetter equal pay for equal work by ruling that she had only 180 days from her first discriminatory paycheck to file her claim, whether she was aware of that discrimination or not. This legislation will help ensure fair treatment in the workplace by clarifying that every paycheck resulting from a discriminatory pay decision constitutes a new violation of employment discrimination law. The Paycheck Fairness Act will complement the Ledbetter bill by plugging loopholes that have been used to weaken enforcement of the Equal Pay Act. This legislation will ensure that employers have a job- related reason for any disparity in pay. It also protects from retaliation employees who discuss salary matters and puts gender discrimination on equal footing with other forms of wage discrimination when it comes to seeking damages. Madam Speaker, while we have made important strides towards gender equality in our Nation, American women still make only 78 cents for every dollar earned by their male counterparts for equal work. Together, these bills will bring us closer to America's promise of workplace equality for all of our citizens.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, today, the House considers the Presidential Libraries Donation Reform Act. I was a cosponsor of this bill when it was originally introduced in 2007 and I am proud to stand in support of it today. Under current law, a sitting president can accept private donations in unlimited amounts for the purpose of building a presidential library. There is no requirement that the donor's identity or the amount of the donation be disclosed. The potential for abuse here is obvious. This bill requires presidential libraries fundraising organizations to disclose to Congress information about the donors and their donations during and immediately following the president's term in office. The bill originally passed the House on suspension in March 2007, and returns to the House floor today after receiving strong support in the Senate. I encourage my colleagues to join me in supporting this important piece of bipartisan legislation.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, today, the House considers a bill that amends the Presidential Records Act. This important piece of bi- partisan legislation will help preserve open government, by reversing an executive order issued in the early days of the Bush administration that cut off access to Presidential records for historians and the American public. Under that executive order, former Presidents and their heirs were given unprecedented authority to withhold or, indefinitely delay, access to documents from the public. And, for the first time, the order extended the authority to assert ``executive privilege'' to former Vice Presidents. This legislation reverses that order by stating clearly that only current and former Presidents may assert ``executive privilege.'' The bill also grants current Presidents discretion over whether to support a former President's assertion of privilege and places strict time limits for the current and former President to review records before they are released.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, congratulations to Hal Shelton and the Board of the Washington Metropolitan Area SCORE for receiving the 2008 Small Business Administration District Director's Award for their contribution to the training, counseling and mentoring of small businesses. Hal Shelton and the more than 50 Washington Metro Area SCORE volunteers were recognized for substantially assisting the SBA DC district office in providing business counseling to military service members at Walter Reed Hospital; organizing workshops for local 8(a) businesses; and for exceeding all goals for the number of DC-area clients who received business mentoring and advice. Since 1964, SCORE ``Counselors to America's Businesses,'' have helped 8 million aspiring entrepreneurs and small business owners through counseling and business workshops. More than 10,500 volunteer business counselors in 389 chapters serve their communities through entrepreneur education dedicated to the formation, growth and success of small businesses. For their commitment to preserving the reputation of American small businesses as among the most productive in the world and for their years of dedicated public service, I commend Hal Shelton and the members of Washington Metropolitan Area SCORE for receiving this important honor.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, I reluctantly supported this economic rescue plan on Monday, and I will do so again today. Not because I like it. I don't. Not because it is popular. It isn't. And certainly not because I think responsible taxpayers have any obligation to bail out Wall Street. They don't. Instead, I will support this plan because I believe that acting decisively now will almost certainly mean less cost to taxpayers and less pain on Main Street than allowing this credit crisis to get worse. In what history will record as the final verdict on 8 years of the Bush administration's failed economic policies, allowing this credit crisis to spread to Main Street would dry up existing lines of credit, cause more small businesses to fail, put more people out of work, place more retirees' pensions at risk, and accelerate the current downturn in our fragile economy. We simply cannot allow that to happen. Let's be clear: This legislation is a far cry from the original, three-page, blank check proposal Secretary Paulson submitted to Congress. Whereas the Paulson proposal had no oversight, no limits on executive compensation or golden parachutes, no help for homeowners, no upside for taxpayers, and no requirement that the President submit a plan to Congress to recoup the full amount of the taxpayers' money from participating institutions should any amount of the initial outlay not be recovered after 5 years' time, this legislation contains all of those protections. Additionally, as a result of the Senate's action last night, the bill we are considering today also includes a 1-year patch for the AMT to ensure 25 million additional Americans are not snared by this tax; $18 billion in renewable energy incentives (paid for by eliminating subsidies to the oil and gas industries) to accelerate our transition to a 21st century green economy; and mental health parity legislation that will end the shameful history of insurance discrimination suffered by those whose conditions affect the brain, rather than the rest of the body. This revised package also contains bipartisan legislation I introduced to end the ISO AMT crisis affecting tens of thousands of law-abiding Americans by providing permanent relief from that universally condemned corner of our code. And it further protects our citizens' savings by temporarily increasing the cap on FDIC-insured accounts to $250,000. Like any legislation of this magnitude, there are provisions I do not support, other provisions I thought should be included, and still others I would have changed. For example, the renewable energy title includes several incentives that in my view fall outside the definition of ``renewable,'' and the tax title contains a number of narrowly drawn provisions that detract from the larger purpose of this legislation. Additionally, the final bill failed to include a measure I support to allow bankruptcy judges to modify mortgages on primary residences the same way they are currently able to modify mortgages on second homes and investment properties. Furthermore, the Senate package was not fully paid for and for that reason will unnecessarily add to our national debt. And finally, I personally would have preferred that that this rescue plan include some immediate regulatory reforms, recognizing that more comprehensive reform will follow congressional hearings that begin next week. Nevertheless, our citizens can be assured that Congress is determined to get to the bottom of what caused this mess and act promptly to make sure this kind of crisis never happens again.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, although am disappointed that White House opposition will prevent the House-passed $63 billion stimulus package from becoming law this year, we have at least reached bipartisan agreement on this seven week extension of unemployment benefits for our neighbors still looking for work in this struggling economy. Today's unemployment report was not good: 159,000 jobs lost in September--the worst job loss in five years, on top of 600,000 jobs already lost in 2008. The Federal Unemployment Trust Fund currently has more than enough reserves to cover the cost of this extension, and nearly 800,000 workers will exhaust their benefits if this legislation isn't enacted into law. For their benefit, and the benefit of our economy, I urge my colleagues' support and yield back the balance of my time.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, many of my constituents are current or former employees of Government Sponsored Enterprises, GSEs, that provide residential mortgage services on behalf of the Federal Government. These employees are concerned that the Treasury Secretary's newly authorized control over their organizations may compromise their retirement benefits. I have consulted with Congressman Barney Frank, the Chairman of the Financial Services Committee, regarding this issue. Chairman Frank has assured me that in drafting this legislation he was careful to ensure that the Secretary's control over these GSEs will have no impact upon the retirement benefits of the rank-and-file employees who are not regarded as ``executives'' under the regulations of the Securities and Exchange Commission. I greatly appreciate the Chairman's work to protect the benefits of these hard working employees.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, I rise today to express my reluctant support for the United States-India Nuclear Cooperation Approval and Nonproliferation Enhancement Act. I support this legislation because, on balance, I think it advances U.S. national security and other national interests. I do so reluctantly because of the risk that it weakens our efforts to prevent the proliferation of nuclear material and nuclear technology. I ultimately support this measure for three major reasons: First, this agreement will create more international supervision of India's nuclear fuel cycle than there would be without it. India and the International Atomic Energy Agency have agreed to new safeguards for Indian civilian nuclear plants. In addition, over the last 30 years India has voluntarily imposed safeguards on its nuclear program and has established an excellent record on non-proliferation. While India is not a party to the Nuclear Non-Proliferation Treaty (NPT), it has maintained strict controls on its nuclear technology and has demonstrated that it is committed to being a responsible nuclear steward. That is one the reasons that the 45 nation Nuclear Suppliers Group granted India a waver to permit it to purchase fuel and technology. Second, India is a country with a large, well-established, multicultural and multireligious democracy. Building a strategic relationship with India will further our interests in the region and send a strong signal that responsible conduct is recognized. India's conduct stands in stark contrast to that of North Korea, which is a signatory of the NPT but has violated its responsibilities under that agreement by building and testing nuclear weapons. Third, this bill is important for how it may impact India's growing contribution to global warming. India's economy is growing rapidly, swelling at more than 7 percent per year. That economic growth is fed by a voracious appetite for electricity. More than half of India's new power supplies come from coal. Displacing coal use in India with nuclear power could prevent the release of millions of tons of carbon dioxide each year into the atmosphere. Last, in recent weeks, secret correspondence between the White House and Congress has further clarified the U.S. position on many important questions about this deal. Assistant Secretary Bergner wrote Representative Tom Lantos in January of this year and stated in no uncertain terms that the United States will not sell sensitive nuclear technologies to India and would immediately terminate the agreement if India conducted a nuclear test. For these reasons, I will support this agreement. But I support it with the caveat that, in the event that India tests a nuclear weapon, I will actively and strongly work to terminate the agreement.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, let's be clear: we are facing this crisis today because of the reckless economic policies of the Bush Administration and its deregulatory ideology run amok. No one likes the choice before us. But we must deal with the world as it is today, not the world that might have been had the Bush policies not driven the economy and our financial system to the brink of collapse. If this rescue plan were simply an effort to indemnify Wall Street from the consequences of its own excesses, I would have none of it. Unfortunately, that's not why we're here today. We're here because we cannot let the toxic contagion on Wall Street spill over to Main Street. We must not let the colossal failures of irresponsible corporate executives wipe out innocent small businesses and citizens who had nothing to do with this mess. At the end of the day, we are here out of the conviction that acting decisively now will mean less expense and pain than waiting for the crisis to get even worse. Make no mistake: this legislation is a far cry from the original blank check the Administration so brazenly requested. Secretary Paulson and his successor at Treasury will have real time oversight regarding the decisions they make--and robust judicial review of those decisions after the fact. There will be no golden parachutes for the corporate executives whose poor judgment and failed leadership created this crisis. Qualified homeowners struggling to pay their mortgages will get the help they need to stay in their homes. The $700 billion authorized in this bill will be broken up and made available in separate tranches so that Congress can exercise ongoing oversight before additional funds are spent. And taxpayers will receive additional, vital protections in the form of a non-voting equity or senior creditor interest in the companies they are helping to rescue, a preferred position for distribution of assets should a company fail and the ability to resell the assets the government purchases at a potential profit once the markets recover. In that regard, while no one has a crystal ball, the Congressional Budget Office has testified that it believes the final cost for this rescue package will be substantially less than $700 billion because the assets the government will be purchasing will have at least some value. Moreover, it is reasonable to expect that at least some of these assets could over time actually increase in value, giving taxpayers the opportunity to make money on their investments and help recoup the initial costs of this plan. However, in the event a full recovery of taxpayer funds is not complete within five years, this legislation requires the President to submit a plan that would impose a fee on the financial industry to make up the difference and make the taxpayers whole. Finally, Madam Speaker, we would not be doing our job today if we did not assure our constituents that, even as we address the immediate crisis before us, we are firmly committed to analyzing what went wrong and fixing it so that this kind of crisis never happens again. In addition to the provisions in this legislation requiring a top to bottom review of our regulatory system, Congress--and the House Oversight and Government Reform Committee on which I sit--will immediately begin an investigation designed to give this Congress a comprehensive blueprint for 21st century regulatory reform.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Madam Speaker, I rise in support of the AMT Relief Act of 2008 and urge my colleagues to do the same. While I would prefer to eliminate the AMT entirely--and pay for it when we do--the fact of the matter is that failing to act on this legislation would subject over twenty-five million families--including nearly 335,000 in my congressional district--to an additional tax burden they were never intended to bear. Moreover, having recently visited with IRS Commissioner Shulman, there is no question that the IRS is better able to do its job and the taxpayers are best served when Congress completes its tax-related work in a timely fashion. I am especially pleased that H.R. 7005 also includes legislation I introduced on a bipartisan basis with Congressmen Richard Neal (D-MA), Sam Johnson (R-TX) and Jim Ramstad (R-MN) to correct the equally unintended and all too frequently devastating treatment of incentive stock options under the Alternative Minimum tax. The AMT Credit Fairness and Relief Act will end the ISO AMT crisis once and for all by allowing affected taxpayers to claim the entirety of their unused credits over the next two years and abating all penalties and interest arising from this particularly egregious part of the code. Madam Speaker, the AMT Relief Act of 2008 is vital middle class tax relief designed to correct several widely acknowledged defects in our tax law. I look forward to its passage and encourage its prompt consideration in the Senate so that it can be signed by the President without delay.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, I rise in strong support of this economic recovery package as a $63 billion shot in the arm for an economy that clearly needs it. As we debate the President's $700 billion bailout plan for Wall Street, we must never forget the struggle on Main Street caused by eight years of failed economic policies. This legislation will grow our economy and create jobs by investing $34 billion in needed infrastructure improvements for our roads, bridges, water resources, schools, public transit, airports and housing. It provides $1.6 billion to accelerate advanced battery, renewable energy and energy efficiency technologies. And it offers a helping hand to our neighbors in need by extending unemployment benefits for an additional seven weeks, increasing food stamp support by $2.6 billion, bolstering our job training efforts by $500 million, and temporarily enhancing the federal match to state Medicaid programs in order to protect health care for our most vulnerable citizens. Mr. Speaker, with the President warning of ``financial panic'' and 605,000 American jobs already lost this year, this proactive effort to support our struggling economy is a modest, but important step. I urge my colleagues' support.

Mr. VAN HOLLEN

Mr. VAN HOLLEN. Mr. Speaker, I rise in strong support of the Renewable Energy and Job Creation Tax Act of 2008 (H.R. 6049) for the innovation it will drive and the fiscal responsibility it represents. In our efforts to fashion a bicameral way forward on these important incentives, I sincerely hope that my colleagues in the Senate will take yes for an answer and forward this compromise package to the President without delay. This pro-growth legislation provides $15 billion for tax incentives in the areas of renewable energy, energy efficiency and conservation. It extends the production tax credit for wind, biomass, geothermal and hydropower facilities and expands that credit to include the promising field of marine renewables. It extends the investment tax credit for solar energy, fuel cells and microturbines for eight years and similarly extends the residential solar property credit for another eight years while removing the existing $2000 cap. And it extends important energy efficiency incentives across the residential, commercial and industrial sectors--including accelerated depreciation of smart grid systems and related equipment--while expediting next generation transportation technologies like cellulosic ethanol and plug-in hybrids. On the extenders side of the equation, this legislation maintains important provisions in the code ranging from the R&D tax credit to encourage business innovation to IRA charitable rollover provisions that support the good works of our non-profit sector to an above-the- line deduction for tuition costs and an enhanced child credit to help our families' budgets during these challenging economic times. Moreover, to meet our colleagues in the Senate halfway, this legislation extends these provisions for two years, as in the Senate bill, and then pays for it by delaying the effective date of an offset the Senate has in principle already agreed to. Mr. Speaker, this is important, broadly supported, fiscally responsible legislation that needs to be enacted into law this year. I urge its immediate adoption.