Mel Watt

Mr. WATT

Mr. WATT. Mr. Speaker, I move to suspend the rules and pass the bill (S. 1677) to reauthorize the Defense Production Act of 1950, and for other purposes.

Mr. WATT. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation and to insert extraneous material thereon.

Mr. WATT. Mr. Speaker, I yield myself such time as I may consume. I rise in strong support of S. 1677, the Defense Production Act Reauthorization of 2009. The Defense Production Act was enacted in 1950 during the Korean War to assure the timely availability of industrial resources to meet national defense needs, particularly in times of crisis. The Defense Production Act has expanded beyond its original focus on military requirements, as the name suggests, to expand industrial resources to meet other emergency preparedness and critical infrastructure needs, thereby allowing civilian agencies to respond rapidly to crises such as natural disasters or terrorist attacks. S. 1677 updates the Cold War-era law with 21st century tools and taxpayer protections. In accordance with the General Accounting Office and Department of Homeland Security recommendations, it mandates greater coordination and implementation among Federal civilian agencies to use authorities to prioritize government contracts for our national defense and domestic emergency needs. It modernizes Federal loan and loan guarantee authorities in the act so essential government suppliers that otherwise would have trouble accessing credit can access credit to expand domestic industrial capacity in emergency situations. Such assistance is conditioned on government need, recipients' viability, and specific congressional appropriation. This new bill would establish a new interagency body called the Defense Production Act Committee that will elevate Defense Production Act policy discussions to Cabinet-level consideration to advise the President and improve coordination among all agencies delegated Defense Production Act authority. The panel will report to Congress annually on its use of Defense Production Act authorities and provide recommendations for any improvements. Over the years, Mr. Speaker, the Defense Production Act has been an important tool for meeting national defense and critical infrastructure needs such as mine-resistant vehicles for troops in Iraq and emergency supplies and services for Hurricane Katrina recovery on the domestic side. I hope my colleagues will join me in voting for the Defense Production Act Reauthorization Act of 2009, S. 1677. I reserve the balance of my time.

Mr. WATT. Mr. Speaker, I have no further requests for time on this important bill. I reserve the balance of my time.

Mr. WATT. Mr. Speaker, I yield myself such time as I may consume. I want to thank my colleague for his statement and especially remind my colleagues of the urgency of this matter, because this important authorization expires, unless we renew it, at the end of this month. So it's critically important that we pass this bill today. In a democracy there's always a very delicate balance between taking the time to authorize things and delegating authority to an administration for emergency kinds of situations. I just want to assure my colleagues in the House that the Senate and the administration has scrubbed this bill vigorously to try to find the appropriate balance between giving the administration and folks other than those of us in Congress emergency authority to do things without allowing that authority to be abused. We saw recently in the responses that the Federal Reserve had to take to the economic downturn last year and this year--we realized that there was some emergency authority in a remote 1933 bill that the Federal Reserve had to take certain steps. It made us a lot more aware of that delicate balance that we are always walking between giving Federal Government agencies the authority to act in emergency circumstances and going through the deliberative process that's needed for Congress to authorize these kind of emergency actions. So our Financial Services Committee is very aware of walking that delicate balance and the necessity for doing so. And to the extent that this bill could be controversial, it would be in that area of what is that delicate balance. I think my colleagues need to be reassured that we have been very cognizant of walking that balance and trying to find the right levers to make sure that this authority can be used only in emergencies that everyone would recognize as an emergency and not be abused and used without appropriate checks and balances being exercised. With that, I urge my colleagues to support this extremely important piece of legislation. I yield back the balance of my time.

Mr. WATT

Mr. WATT. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2097) to require the Secretary of the Treasury to mint coins in commemoration of the bicentennial of the writing of the Star-Spangled Banner, and for other purposes.

Mr. WATT. Mr. Speaker, I yield myself as much time as I may consume. Mr. Speaker, I rise in strong support of H.R. 2097, the Star-Spangled Banner Commemorative Coin Act, and applaud my colleague, Mr. Ruppersberger, for introducing the bill. The bill instructs the Secretary of the Treasury to mint and issue $5 gold coins and $1 silver coins in commemoration of the bicentennial of the writing of the ``Star-Spangled Banner.'' The issuing of this coin will would begin during the calendar year. The ``Star-Spangled Banner'' is set to music to a poem entitled ``In Defense of Fort McHenry'' written in 1814 by Francis Scott Key, who wrote the poem after seeing the bombardment of Fort McHenry in Baltimore, Maryland, by the Royal British Navy during the War of 1812. The American victory and the sight of the large American flag that survived the 25-hour British bombardment inspired the poem and the anthem. In 1916, President Woodrow Wilson ordered that the anthem, which had been popularly renamed the ``Star-Spangled Banner,'' be played at military and naval occasions. On March 6, 1931, President Herbert Hoover signed a resolution of Congress that officially designated the ``Star-Spangled Banner'' as the national anthem of the United States. Throughout the course of American history, the ``Star-Spangled Banner'' has played a significant role in the democracy and freedom of this country and symbolizes our enduring respect for those who have fought and died to preserve the future of this great nation. In the 110th Congress, similar legislation passed the House and had 298 cosponsors. I again urge my colleagues to support this legislation. I reserve the balance of my time.

Mr. WATT. I yield to Mr. Ruppersberger from Maryland as much time as he may consume.

Mr. WATT. Mr. Speaker, I submit the following exchange of letters regarding H.R. 2097. House of Representatives, Committee on Ways and Means, Washington, DC, September 8, 2009. Hon. Barney Frank, Chairman, Financial Services Committee, Washington, DC. Dear Chairman Frank: I am writing regarding H.R. 2097, the ``Star Spangled Banner Commemorative Coin Act.'' As you know, the Committee on Ways and Means maintains jurisdiction over bills that raise revenue. H.R. 2097 contains a provision that establishes a surcharge for the sale of commemorative coins that are minted under the bill, and thus falls within the jurisdiction of the Committee on Ways and Means. However, as part of our ongoing understanding regarding commemorative coin bills and in order to expedite this bill for Floor consideration, the Committee will forgo action. This is being done with the understanding that it does not in any way prejudice the Committee with respect to the appointment of Conferees or its jurisdictional prerogatives on this bill or similar legislation in the future. I would appreciate your response to this letter, confirming this understanding with respect to H.R. 2097, and would ask that a copy of our exchange of letters on this matter be included in the Record. Sincerely, Charles B. Rangel, Chairman.

Mr. WATT. Mr. Speaker, I simply encourage my colleagues to support this historic bill and thank Mr. Ruppersberger for its introduction. I yield back the balance of my time.

Mr. WATT. Mr. Speaker, on that I demand the yeas and nays.

Mr. WATT

Mr. WATT. I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the bill just under consideration.

Mr. WATT

Mr. WATT. Mr. Speaker, I yield 1\1/2\ minutes to the gentleman from Maryland (Mr. Van Hollen).

Mr. WATT. Mr. Speaker, we have only one final speaker, so we'll reserve the balance of our time.

Mr. WATT. Mr. Speaker, we reserve the balance of our time.

Mr. WATT. Mr. Speaker, I yield myself the balance of the time. Mr. Speaker, the fact that we are here today debating this bill with such vociferous opposition, to me, is a commentary on how out of whack our whole system has become. First of all, this bill is a modest bill which gives shareholders the right to make advisory votes, take advisory votes on compensation. Who are these shareholders? They're the owners of the company. They're the owners of the company, and somehow, the opponents of this bill are trying to convince the public that the owners of a company shouldn't have the right to express their opinion to the board about compensation of the officers of that company. And the bill specifically says, and I'm reading from the bill, The shareholder vote shall not be binding on the board of directors and shall not be construed as overruling a decision of the board. We're just giving them the explicit right to advise the board about compensation. One gentleman has said that this applies to manufacturers. It doesn't apply to manufacturers. Section 4 doesn't apply to manufacturers. And even if it did, it would apply only to the extent that they could threaten the safety and soundness of a financial institution-- manufacturers are not financial institutions--and only to the extent that they could cause serious adverse effects on economic conditions or financial stability. And that, I would submit, is an appropriate Federal Government role to play, to make sure that we don't get back into the kind of meltdown that we are experiencing and have been experiencing as a result of greed and irresponsibility in the private sector. This is not the government taking over the corporate sector, either in the financial sector or any other sector of our economy. It is a statement by the American people that it's time for us to straighten up the ship. We should pass this bill today and move on.

Mr. WATT

Mr. WATT. Madam Speaker, I object to the vote on the ground that a quorum is not present and make the point of order that a quorum is not present.

Mr. WATT. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 1209) to require the Secretary of the Treasury to mint coins in recognition and celebration of the establishment of the Medal of Honor in 1861, America's highest award for valor in action against an enemy force which can be bestowed upon an individual serving in the Armed Services of the United States, to honor the American military men and women who have been recipients of the Medal of Honor, and to promote awareness of what the Medal of Honor represents and how ordinary Americans, through courage, sacrifice, selfless service and patriotism, can challenge fate and change the course of history.

Mr. WATT. Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation and to insert extraneous material thereon.

Mr. WATT. Madam Speaker, I yield myself such time as I may consume. Madam Speaker, I rise in support of H.R. 1209, the Medal of Honor Commemorative Coin Act of 2009. The Medal of Honor was first authorized by Congress in 1861 as the U.S. Navy's highest personal decoration, and other branches of the military followed suit with their own Medals of Honor. The Medal of Honor is bestowed upon a member of the Armed Forces that conspicuously distinguishes him or herself at the risk of his or her own life above and beyond the call of duty while defending this country against an enemy force. Fewer than 3,500 Medals of Honor have been awarded to members of the United States Armed Forces, and I commend the bill's sponsor, Representative Chris Carney of Pennsylvania, for honoring some of America's bravest soldiers and most outstanding citizens by introduction of this bill. Madam Speaker, I submit the following correspondence: House of Representatives, Committee on Ways and Means, Washington, DC, May 11, 2009. Hon. Barney Frank, Chairman, Financial Services Committee, Rayburn House Office Building, Washington, DC. Dear Barney: I am writing regarding H.R. 1209, the ``Medal of Honor Commemorative Coin Act of 2009.'' As you know, the Committee on Ways and Means maintains jurisdiction over bills that raise revenue. H.R. 1209 contains a provision that establishes a surcharge for the sale of commemorative coins that are minted under the bill, and thus falls within the jurisdiction of the Committee on Ways and Means. However, as part of our ongoing understanding regarding commemorative coin bills and in order to expedite this bill for Floor consideration, the Committee will forgo action. This is being done with the understanding that it does not in any way prejudice the Committee with respect to the appointment of conferees or its jurisdictional prerogatives on this bill or similar legislation in the future. I would appreciate your response to this letter, confirming this understanding with respect to H.R. 1209, and would ask that a copy of our exchange of letters on this matter be included in the Record. Sincerely, Charles B. Rangel, Chairman.

Mr. WATT. Madam Speaker, I am told that Mr. Carney, the original sponsor of this bill, is on his way to the floor, so I reserve the balance of my time.

Mr. WATT. Madam Speaker, I yield as much time as he may consume to the gentleman from Pennsylvania (Mr. Carney), the primary sponsor of this bill on our side.

Mr. WATT. Madam Speaker, it has just been a great, great pleasure for me to listen to the stories of Mr. Kirk and Mr. Carney honoring the brave men and women who have received Medals of Honor. I want to thank them for introducing this bill to provide funding to the foundation that is doing, obviously, a great deal of wonderful work in our Nation to honor men and women who have served in the military and those out in the public who have not served in the military. So I commend them. Madam Speaker, I yield back the balance of my time.

Mr. WATT

Mr. WATT. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 347) to grant the Congressional Gold Medal, collectively, to the 100th Infantry Battalion and the 442nd Regimental Combat Team, United States Army, in recognition of their dedicated service during World War II.

Mr. WATT. Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation and to insert extraneous material thereon.