Monday, Mar. 12, 2018

Tomorrow -

  • The Senate will convene at 10:00 a.m.
  • Following leader remarks, the Senate will resume consideration of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
  • The Senate will recess from 12:30 p.m. to 2:15 p.m. to accommodate the weekly policy lunches.
  • Note: on Thursday, March 8, cloture was filed on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
  • Note: on Thursday, March 8, cloture was filed on Executive Calendar #598, Kevin K. McAleenan, of Hawaii, to be Commissioner of U.S. Customs and Border Protection.

 

Senator Brown: (6:22 p.m.)

  • Spoke on Dodd-Frank relief.
    • "So after the crisis, Congress responded with a law, the Wall Street reform act, to ensure that taxpayers would never again, Mr. President, have to send bailout money to British and Swiss megabanks. We ordered the fed to keep a closer eye on the big banks, to use their power to make sure the largest global banks did not again crash the economy. Congress instructed that the fed apply the strictest protections to the biggest banks, those with more than $50 billion in assets. We know that. When the fed implemented these rules, they applied some standards to banks that had more than $50 billion across the globe. But for global banks that have more than $50 billion in the U.S., the fed applied the strongest standards for foreign banks with not only trillions worldwide but systemic operations in the United States, the fed wrote rules that are strict as those for our domestic megabanks."

Boozman, Flake

The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)

Mar 12 2018

Senator Boozman: (5:26 p.m.)

  • Spoke on health and wellness.
    • "Mr. President, I rise to recognize the role of nutrition in the health and wellness of our nation and the development of our children. Arkansas agricultural producers play a vital role in providing affordable, nutritious food, not only for our state and country, but for the entire world. March is recognized as national nutrition month. This is a time to focus attention on the importance of a balanced diet, healthy eating choices. As a co-chair of the Senate Hunger Caucus, I'm committed to supporting and raising awareness of efforts that provide nutritious, healthy meals, creating policies that fight hunger and supporting programs that have proven successful."

 

Senator Flake: (5:31 p.m.)

  • Spoke on tariffs.
    • "But a week later, Brazil takes another move, the president might seek to re-impose or make the burden heavier. That simply doesn't work if you're trying to achieve economic growth and if you're trying to convince countries to enter into trade partnerships with you, particularly when you're dealing with our allies. That's no way to treat your allies. I understand free trade is sometimes a challenge. I understand that it's a challenge on the campaign trail, certainly, it's often easier to point to a shuttered factory and blame trade or immigration or some other convenient scapegoat other than what is usually the case, it's modernization or meccanization or something that has meant that we have increased productivity or the best capital to facilitate trade."

Schumer, Cornyn, Warren, Nelson

The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)

Mar 12 2018

Senator Schumer: (4:14 p.m.)

  • Spoke on gun control.
    • "Now, that may give him a temporary little high, but it's not what the American people want. It's not leadership, and in my judgment at least that's why the president is down so much in the polls, no matter what he does. That's why even a race in Pennsylvania, southwestern corner of Pennsylvania, in a district he won by 20 points is a nail-biter. So I hope the president will change. I hope he will become a leader. I hope he will stop just focusing on the show but actually get things done. So far, the American people, not just us, are disappointed. Now, Democrats in the Senate, we're going to keep fighting to go much further than the president's proposal."
  • Spoke on Russian election interference.
    • "Neither had been directed by the administration to counter Russia's continued efforts to undermine our democracy. A report in "The New York Times" last week documented how President Trump's State Department, quote, has yet to spend any of the $120 million it has allocated since late 2016 to counter foreign efforts to meddle in elections or sow distrust in democracy, unquote. And still the Trump Administration has not fully implemented the sanctions Congress passed to punish Putin. Meanwhile, Russian-linked bots continue to sow division and inflame political tensions on social media. Multiple officials from the intelligence community have warned that Russia will try to interfere in our elections again."

 

Senator Cornyn: (4:27 p.m.)

  • Spoke on Dodd-Frank relief.
    • "What happens is these banks, these community banks have less money to loan because they have had to use the money they would loan to hire more people to help them comply with all the unnecessary red tape because of the Dodd-Frank overregulation. Some have had to basically defer that sort of investment in their communities and others have had to shutter completely because of the financial burden. The second order in effect is that some people don't have access to capital, that is to loans that they need. They can't get credit they need in order to start a small business or grow an existing business or even get a mortgage to buy their first home. Let's be clear, though, about which financial institutions this bill is tailored toward helping. It's small community banks and mid-sized regional ones as well as credit unions."
  • Spoke on gun control.
    • "Madam President, on another matter, I want to emphasize another point and talk about a new milestone reached and announce some good news. We've now reached 64 total cosponsors for a bill that I've introduced with the junior senator from Connecticut, Senator Murphy, called the fix NICS which is the background check reform bill that we cosponsored together. It is unusual in an incident like this during polarized time where you have 32 Democrats and 32 Republicans saying, yes, we have a problem and, yes, we want to work together to fix it."

 

Senator Warren: (4:43 p.m.)

  • Spoke on Dodd-Frank relief.
    • "Within two years, 8.8 million Americans had lost their jobs. No one bailed them out. Within three years more than four million homes had been lost to foreclosures, millions more were in danger. No one bailed the homeowners out. And now to mark the tenth anniversary of that devastating crisis, the senate is on the verge of rolling back the rules on the big banks again. Last week I talked about how this bill guts important consumer protections, how it weakens the oversight of banks with up to a quarter of $1 trillion in assets, and how it could set the stage for another financial crisis just like past bipartisan bills to roll back the financial rules. But the bill will also roll back the rules on the very biggest banks in the country."

 

Senator Nelson: (4:57 p.m.)

  • Spoke on gun control.
    • "Indeed, our entire state is grieving. Broward County is grieving. Parkland is grieving. I think you're going to find on March 24 in the rallies and the marches that will occur in 500 cities around this country and will have a focus of the main one in Washington, I think you're going to find that a lot of people are grieving because a lot of people all across this country have been touched by these massacres that continue to occur, starting over almost three decades ago in columbine, in Colorado. We certainly had our fill of it in Florida just in the last two years."

McConnell

Opening Remarks

Mar 12 2018

Today -

  • The Senate will next meet for legislative business at 4:00 p.m.
  • Following leader remarks, the Senate will resume consideration of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
  • At 5:30 p.m., the pending cloture motions will ripen.
  • Note: on Thursday, March 8, cloture was filed on McConnell (for Crapo) Amendment #2151, as modified, to S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
  • Note: on Thursday, March 8, cloture was filed on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
  • Note: on Thursday, March 8, cloture was filed on Executive Calendar #598, Kevin K. McAleenan, of Hawaii, to be Commissioner of U.S. Customs and Border Protection.
  • Note: the filing deadline for first degree amendments to S. 2155 will be at 4:30 p.m. and the filing deadline for second degree amendments will be 5:30 p.m.

 

Senator McConnell: (4:02 p.m.)

  • Spoke on Kentucky Basketball.
    • "The University of Kentucky Wildcats men's team won their 31st S.E.C title, their fourth straight, by the way. Hall of fame coach John Caliperi is leading big blue nation back to the NCAA tournament and we hope to the school's ninth national championship. At Western Kentucky University the lady toppers brought home a second straight conference U.S.A title."
  • Spoke on Dodd-Frank relief.
    • "A small number in the Senate seem dead set against commonsense reforms to help these institutions dusting off old arguments and suggesting apocalyptic consequences from even this modest set of reforms. That's a shame because when small lenders shut their doors, communities throughout America pay the price. Even in this online era, research tells us that the closure of physical banks makes it harder for farmers, ranchers, small business owners, and low-income families to access capital. The story has played out thousands of times across the country."
  • Spoke on tax reform.
    • "There are stories like this all over our country. How many Americans lives will be changed for the better by tax reform when all is said and done? The big donations to countless nonprofits like these serving homeless women and children, higher take-home pay for American families to help them make ends meet, more investment and more job opportunities over the long term now that our tax code gives American job creators a fairer fight with overseas competitors."