Maxine Waters

Ms. WATERS

Ms. WATERS. Mr. Speaker, I thank the gentlewoman from Florida for affording me this time. I am very pleased to join with all of my colleagues in the Congressional Black Caucus to honor the veterans, African-American, Black veterans, who have served this country so honorably. We could talk all night about the contributions that have been made, the sacrifices that have been made, and we take this time to point out not only the contributions but individuals who have played an important role as Blacks in the military. First, I would share that, in 1994, I introduced legislation, H.R. 3013, to create the Center for Women's Veterans. That bill became law under Sonny Montgomery, who was the chair of the Committee on Veterans' Affairs at that time. I think that overall bill was the Veterans' Benefits Improvements Act. I am very pleased that that center has paid attention to some of the concerns that we have had about the treatment of women, Black women in particular. Mr. Speaker, I rise to recognize someone from my district, an extraordinary woman who happens to be a veteran. Patricia Jackson-Kelley is a military veteran of the United States Air Force and United States Army and Navy Reserves, having served our Nation collectively for 26 years, where she rose to the top rank of lieutenant colonel after serving honorably on both Active Duty and in the Reserves. Lieutenant Colonel Jackson-Kelley recently completed a 4-year impressive term as the national president of the National Association of Black Military Women, with chapters across the United States. While serving our Nation in the Armed Forces and post-service, Lieutenant Colonel Jackson-Kelley served as the program manager for a 40-bed substance abuse ward and as the women veteran program manager with the Department of Veterans Affairs, West Los Angeles. During her term on executive staff, she was instrumental in implementing programs, and she increased funds and resources for women veterans. During her time at the veterans hospital, she also served as one of the initial board members during the inaugural formation of U.S. VETS. Patricia Jackson-Kelley is also a commissioner for the County of Los Angeles, Second District, Military and Veteran Affairs, and commander for The American Legion Jackie Robinson 252 Post. Most recently, she was appointed by the Secretary of the Department of Veterans Affairs Sexual Assault and Harassment Prevention Task Force Working Group, covering national concerns and issues. Lieutenant Colonel Jackson-Kelley has received awards and commendations from President George Bush, the California Governor's Office 2006 to 2009, NAACP, Blacks in Government, and many top community organizations. In 2010, she was selected as Southern California Women Veteran of the Year by the California Department of Veterans Affairs, and she was the inaugural recipient of the PFC Gladys Schuster Trailblazer Award in August 2012. Jackson-Kelley was recognized by former Department of Veterans Affairs Secretary Robert McDonald for her service on the National Center for Minority Veterans committee from 2015 to 2017. In 2017, Lieutenant Colonel Jackson-Kelley was awarded the Lifetime Legacy Award by Connected Women of Influence. In 2018, she received the Crystal Eagle Award from Los Angeles County African American Employees Association. Also in 2018, Lieutenant Colonel Jackson-Kelley was honored with the Holeman Community Development Corporation Quiet Champion Award, the City of Los Angeles Hall of Fame Award, and was named UCLA Veteran of the Year. In 2019, she was the Hollywood Business and Professional Women Black History Month honoree. Lieutenant Colonel Jackson-Kelley was one of the honorees of the National Daughters of the American Revolution Women in American History, 2021 to 2022. On August 20, 2022, she received the prestigious African Focus Goodwill Lifetime Achievement Award. Mr. Speaker, I highlight that she is one of many African-American women who have served this country honorably, and she deserves to be recognized. This evening, I hope that by giving her this recognition, she will understand that we appreciate her so very much.

Ms. WATERS

Ms. WATERS. Madam Speaker, right now, the United States economy is being held hostage by Speaker McCarthy and extreme MAGA Republicans, who have issued a series of radical demands. In their demands, they are saying that if they are not met, they will force the United States Government into bankruptcy for the first time in our Nation's history. Madam Speaker, this fate is exactly 16 days away. The clock is ticking. Instead of taking action to avoid this fate, Republicans are doubling down on their threats. While communities everywhere will suffer enormous harm, no community will bear the brunt of this looming economic catastrophe more than the Black community. A default on our Nation's debt will discontinue crucial programs like Medicare and Social Security. In my district alone, a default will jeopardize Social Security payments for 59,000 families and threaten the retirement savings of 89,600 people near retirement. A default will dramatically increase borrowing costs for auto, home, and personal loans and hinder access to credit for Black communities, which are already paying more for credit because of predatory lending practices, which still exist today. For example, a default would increase mortgage interest rates above 8 percent and increase monthly mortgage payments on a median home in California by $254, pushing the total cost of homeownership up by over $91,000. This would further decimate the American Dream of homeownership for far too many families. While we have made considerable progress in strengthening Black employment under President Biden, a default would significantly reverse this progress by throwing 780,000 people out of jobs, including 7,200 jobs in my district alone. As with most economic crises, Black Americans will not only bear the brunt of a recession but will also have the most difficult time recovering. We have seen this in the past. Let's be very clear. The brinkmanship over our Nation's debt is not only a direct attack on our economy but also on Black communities everywhere. We are running out of time to save our economy and our most vulnerable communities from a crisis of epic proportions. Madam Speaker, I urge my Republican colleagues to put an end to this needless political theater and raise the debt limit, as they did three times with no problems under twice-impeached and indicted former President Donald Trump. Not only must they raise the debt limit, but in the midst of a worsening housing crisis, they must do so without cutting a single penny from critical housing funds.

Ms. WATERS

Ms. WATERS. Mr. Speaker, in just a few months, the United States is on track to default on its debt for the first time in history. This is because Speaker McCarthy has unveiled a bill that he claims will fulfill our debt obligations, but in reality it will cut access to critical social programs supporting education, food assistance, healthcare, and housing. It would devastate our economy, and we all know it is a dead-on-arrival bill. It will crash our global financial markets. According to Moody's, under McCarthy's legislation, 780,000 Americans will lose their jobs, and our Nation's unemployment rate will surge. We all know that this pain will be borne disproportionately by people of color. Republicans must put an end to this needless political theater and raise the debt limit, as they did three times with no problem under the twice-impeached and newly indicted former President Donald Trump, who signed $4.7 trillion in new deficits into law. Not only that, but they must do so without any cuts or reductions to housing funds given the terrible state of affordability in America. Mr. Speaker, I urge my Republican colleagues who care about our economy--or who say they care about our economy--and the American Dream to get serious and work with Democrats to avert a catastrophic default by supporting a clean bill to raise the debt limit. Mr. Speaker, this should not be about politics. This should be about whether or not you love this country and whether or not you believe that we should pay our bills, whether or not you think it would be horrible if this government is to shut down. If we don't pay our bills and the government shuts down, employees will not be able to put food on their tables. They will not be able to pay their mortgage or their rent. They will not be able to support their children in the ways that they should be supported. This is serious business. Now, this business of Mr. McCarthy trying to negotiate with the President of the United States to say: Well, if you do what I want you to do, then I will support debt limits. Mr. Speaker, we cannot do what the majority wants us to do because, first of all, they don't know what they are doing. They are putting this country at great risk. What you are saying is you don't care about the debt. You don't care about the fact that there are people waiting to be paid that we owe. You don't care whether or not there is a government shutdown. You don't care whether or not these jobs are lost. I am saying to you: We will not support that kind of so-called negotiation. We will not support your putting this country at risk in the way that you are doing. You need to come to grips with the fact that we have to raise the debt limit, and it has been done historically when it has needed to be done, and we expect you to do it. I leave this moment by saying to you: We are waiting on you, Mr. McCarthy, to do the responsible thing, get with our President, and let's support our country.

Ms. WATERS

Ms. WATERS. Mr. Speaker, I rise today to acknowledge a significant anniversary for a company that is important to my District and our great country. On February 10, 2023, the Marvin Engineering Company will celebrate 60 years as one of our Nation's leading manufacturers of armament equipment. What started as a small, modest machine shop in Inglewood, California, has grown into one of the most successful defense contracting companies in the world. The Marvin Group supports all branches of our military and major prime contractors, and it sells products in more than 30 countries worldwide. Thanks to the gifted leadership of founder Marvin Gussman, his wife Madeline, their partner Jerry Friedman, current CEO Howard Gussman, and President David Gussman, Marvin Engineering and its parent company, The Marvin Group, are major employers in California's 43rd Congressional District and Southern California in general. The Marvin Group's business philosophy, its extensive capabilities, and Jerry Friedman investing a significant amount of time in Washington, DC, allowed The Marvin Group to launch Marvin Land Systems in 1995, Marvin Test Solutions in 1997, and Clean Water Technologies in 2002, all of which have expanded their customer base. In addition to the manufacturing of large aero structures, The Marvin Group produces ejector racks, missile launchers, aircraft pylons and other auxiliary equipment. It has also successfully developed its own proprietary state-of-the-art systems for advanced aircraft. With its expansion into land and sea-based platforms, including the Flyer tactical strike vehicle, The Marvin Group has won competitions and contracts from the defense departments of many of our Nation's allies around the world. I have a decades-long relationship with the management of The Marvin Group and am proud to note that they are a great corporate citizen with extensive community service involvement in Inglewood and Los Angeles. They are particularly supportive of the Hirschberg Foundation's pancreatic cancer research in honor of Marvin Gussman. The future is most definitely bright for this innovative and responsible company. As the leadership and more than 1,000 employees of The Marvin Group gather to acknowledge this major milestone, I am proud to bring their accomplishments to the attention of the American people.

Ms. WATERS

Ms. WATERS. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise to oppose H. Con. Res. 9, and I yield myself such time as I may consume. Mr. Speaker, yesterday in the Committee on Financial Services, we organized and considered the committee's oversight plan. We debated homelessness and the lack of affordable housing, how to best protect consumers, and the need to strengthen diversity and inclusion across the financial services industry. We also discussed the threat to our Nation's future if our country is forced to default on our debt 4 months from today. We don't always agree and, honestly, none of the Democratic amendments were adopted, but it was a civil debate about the merits of policy. I believe all of our committee members recognize that the legislation that comes out of our committee has the potential to support wealth creation, grow small businesses, support affordable housing, and build a stable financial system and economy. It is the contrast with the intentionality and seriousness of the debate today that makes it so hard to understand why the very first piece of legislation to come to the floor under a rule is not a proposal to address the needs of any of our constituents, to provide support to struggling small businesses, or the community banks and credit unions that finance them. It certainly doesn't provide our markets with certainty that our country won't act recklessly and default on its debts; a situation that will bring untold harm to all of us in America. No, Mr. Speaker, this resolution today, in fact, does nothing except spread lies and fear about a threat that does not even exist. The rightwing extremists who are running this House have forced my committee to consider as its very first piece of legislation a bill that tries to say that our country will collapse in ruin because of-- wait for it--Social Security. The resolution suggests that because we support seniors with health insurance, our democracy will crumble. They think that because Congress and the President have provided disaster relief to communities that have been burned by historic wildfires or flooded by once-in-a- generation hurricanes that we will fall into ruin. No, Mr. Speaker, Americans take pride in the ways that we come together to do everything from building schools to sending a man to the Moon. Mr. Speaker, Americans know better than the fear-mongering that we see here today. They know, for example, that when the pandemic hit and people were dying all across this country, it was the Federal Government that stepped in to provide trillions of dollars of support to small businesses, workers, renters, students, seniors--and would you believe it--even Republican Members of Congress. In fact, the government, using taxpayer dollars, provided $14 million in PPP loans to a number of our House Republicans who asked and then-- guess what--received debt forgiveness. Now some Republicans have tried to suggest that voting against this resolution is saying that you support dictators like Pol Pot, Mao Zedong or Stalin, which is ridiculous. No one in this Chamber supports them, but do you know which dictator my extremist colleagues refuse to condemn? Oh, they didn't say anything about Hitler. Mr. Speaker, you have heard of him, right? My colleague, Mr. Gottheimer noticed that somehow the Republicans just forgot to condemn Hitler and offered an amendment to denounce his atrocities and mass murder. But Republicans rejected it. And I think we know why. It is because Donald Trump--your true leader, the true leader of the Republicans and North Star for House Republicans--was reported to have frightened his own staff by saying that Hitler had done some good things. There is only one would-be authoritarian who refused to accept the will of our voters and peacefully transfer of power after losing his election. Instead, he incited a violent insurrection on January 6 to block the election's certification that was happening in this very Chamber, but you won't see his name in this resolution or his strongman pals that he loves so much in Russia and China. Mr. Speaker, we are a great Nation, not because we let everyone fend for themselves, but because we care for one another. We are a great Nation that comes together as communities as small as towns and as large as a whole Nation to decide to organize and collectively pay for fire departments, public schools, libraries, hospitals, roads, and bridges, and a military. We are a better Nation because we have programs that we love. We love Social Security and Medicare. We are going to fight every inch of the way to ensure that we keep Social Security and Medicare. We are not going to let the opposite side of the aisle take away our seniors' Social Security and Medicare. I will say it again--Social Security and Medicare. We are a better Nation because our form of capitalism includes regulatory safeguards and strong cops on the beat patrolling our financial system, like the Consumer Financial Protection Bureau. Mr. Speaker, I urge you and the majority to stop these divisive ``gotcha'' tactics. Get out of the way, and let my committee and this Congress pass real legislation that puts the needs of our constituents and Nation first. Mr. Speaker, I reserve the balance of my time.

Ms. WATERS. Mr. Speaker, I yield 2 minutes to the gentlewoman from New York (Ms. Velazquez).

Ms. WATERS. Mr. Speaker, Mr. Williams is my friend, but I do wonder whether Mr. Williams views the $1.43 million he received in debt forgiveness as being consistent with his views on socialism. I don't get it. Mr. Speaker, I yield 1 minute to the gentleman from Texas (Mr. Doggett).

Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from New York (Mr. Meeks).

Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentlewoman from Georgia (Ms. Williams).

Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from California (Mr. Takano).

Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from Wisconsin (Mr. Pocan).

Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from Florida (Mr. Frost).

Ms. WATERS. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, the last gentleman mentioned China, and I just remind everyone of a quote by their President Trump, ``And I like President Xi a lot,'' he said. ``I consider him a friend, and--but I like him a lot. I've gotten to know him very well. He's a strong gentleman, right? . . . he's a strong guy, tough guy.'' When are you going to denounce Trump? Mr. Speaker, I yield 1 minute to the gentlewoman from Florida (Ms. Wasserman Schultz).

Ms. WATERS. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, the gentlewoman from California just mentioned North Korean leader Kim Jong-Un. Let me tell you what Trump said. He said, ``Kim wrote me beautiful letters, and they're great letters. We fell in love.'' Mr. Speaker, I yield 1 minute to the gentlewoman from New Mexico (Ms. Leger Fernandez).

Ms. WATERS. Mr. Speaker, I would reiterate to my colleagues: I love Social Security. I love Medicare. Mr. Speaker, I yield 2 minutes to the gentleman from Maryland (Mr. Hoyer), the former majority leader.

Ms. WATERS. Mr. Speaker, the ex-President who still thinks he is President said, ``I went in yesterday and there was a television screen, and I said, `This is genius.' Putin declares a big portion of Ukraine--of Ukraine--Putin declares it as independent. Oh, that is wonderful. . . . He used the word `independent' and we're gonna go out and we're gonna go in and we're gonna help keep peace.' You gotta say that is pretty savvy.'' Mr. Speaker, I yield 1 minute to the gentleman from New York (Mr. Nadler), who is the ranking member of the Committee on the Judiciary.

Ms. WATERS. Madam Speaker, I yield 1 minute to the gentleman from California (Mr. Khanna).

Ms. WATERS. Mr. Speaker, may I inquire how much time I have remaining?

Ms. WATERS. Mr. Speaker, let me share a quote from the opposite side of the aisle. ``Socialism is a scare word they have hurled at every advance the people have made in the last 20 years.'' They go on to say: ``Socialism is what they called public power. Socialism is what they called Social Security. Socialism is what they called farm price supports. Socialism is what they called bank deposit insurance. Socialism is what they called the growth of free and independent labor organizations. Socialism is their name for almost anything that helps all the people.'' This was a quote from the great President Truman, talking about Republicans' claims 70 years ago. It has revisited itself. Mr. Speaker, I yield 2\1/2\ minutes to the gentleman from California (Mr. Sherman), who is also the ranking member of the Subcommittee on Capital Markets.

Ms. WATERS. Mr. Speaker, I yield an additional 15 seconds to the gentleman from California.

Ms. WATERS. Mr. Speaker, I raise a question, and I direct it to the Speaker. Was PPP socialism? No, of course not, but some Republicans would claim it was. Interestingly, many Republicans, including several sponsors of this ridiculous resolution, not only applied for a PPP loan but also asked that the government forgive the debt. So I ask unanimous consent to enter this list of Republicans in the Record.

Ms. WATERS. I yield 1 minute----

Ms. WATERS. I include in the Record the list of Republicans. 1. Ralph Norman (R-SC): $306,520--member of Rules. 2. Roger Williams (R-TX): $1.43 million--member of FSC. 3. Matt Gaetz (R-FL): $476,000. 4. Marjorie Taylor Green (R-GA): $180,000. 5. Greg Pence (R-IN): $79,441. 6. Vern Buchanan (R-FL): $2.8 million. 7. Kevin Hern (R-OK): $1.07 million. 8. Brett Guthrie (R-KY): $4.3 million. 9. Ralph Abraham (R-LA): $38,000. 10. Mike Kelly (R-PA): $974,100. 11. Vicki Hartzler (R-MO): $451,200. 12. Markwayne Mullin (R-OK): $988,700. 13. Carol Miller (R-WV): $3.1 million.

Ms. WATERS. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, Americans are tired of this body wasting its time when there are real problems to address. I want to get started considering legislation to house the more than a half million people who will sleep outside tonight because they don't have a house of their own. I want to get started on legislation to address the extreme wealth disparities in our country, including where CEOs now make almost 400 times what the average workers make. I want to stop Wells Fargo-like banks from ripping off millions of consumers. I want to get started finding ways for seniors and folks saving for their retirement to have more confidence that those who would defraud them will be thwarted. Instead, we spend time talking about how Republicans want to force Biden to slash Social Security and Medicare, or they will turn the economy down by forcing a default on our debt. The American people should rest assured that my Democratic colleagues and I are united in our resolve to expand access to affordable housing and good-paying jobs, protect consumers from abuse, strengthen our economy, safeguard our national security, protect Social Security and Medicare, and, above all, defend our democracy. Let me say it again: Protect Social Security and Medicare. Mr. Speaker, I yield back the balance of my time.

Ms. WATERS

Ms. WATERS. Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 500, the Financial Exploitation Prevention Act of 2023, sponsored by the gentlewoman from Missouri (Mrs. Wagner). Adults over the age of 65 are too often the target of financial exploitation and have become victims of financial crimes more than any other demographic. In the annual report on elder fraud and abuse, the Department of Justice reported that, in 2020 alone, seniors suffered over $1 billion in financial losses due to fraud. Unlike other adults, seniors are often dependent on their savings to support them in retirement, making it much more difficult for them to recover from incidents of fraud. Brokers and investment managers, who often stand in as the stewards of the savings of seniors, are in a unique position to protect elders from financial crimes. In 2018, the Securities and Exchange Commission released a letter called a no-action letter stating that the Commission would not take enforcement action against the agents of an investment company, including mutual funds, if the person paused a payment or redemption based on the suspicion of financial exploitation. This pause on cashing out the savings of a senior provides a necessary safeguard to ensure that the redemption is consistent with the will of the senior. H.R. 500 would codify this SEC letter. It would also make two further changes to describe how a mutual fund adviser can establish the process at each fund to protect seniors. I thank Mrs. Wagner for working with my staff to craft the language in this bill. This is a helpful piece of legislation that will provide one more tool to market participants to protect investors and, in particular, our Nation's retirees. Mr. Speaker, this legislation passed with bipartisan support last Congress, and I urge my colleagues to once again support this bill. I reserve the balance of my time.