this is a poison pill amendment so that -- and i urge the members to reject this so we can re-authorize the bank immediately. i yield back. the chair: the gentlewoman yields back the balance of her time. the gentlewoman reserves. the gentleman from south carolina. mr. mulvaney: i'll reserve. the chair: the gentleman reserves. the gentlewoman from california is recognized. ms. waters: i yield one minute to the gentleman from pennsylvania, mr. dent. the chair: the gentleman is recognized for one minute. mr. dent: i rise in opposition o the amendment to mr. mulvaney. his amendment puts a statutory quotas on industry sectors. it ignores market forces. the amendment would mirror the rench quota system, which is ineffecttive. and unconventional gas and

industrial internet would be dgs advantage under this policy. it creates for businesses to rush to get under the arbitrary treatment.e cannable this would unmabel to fill in the gaps to compete. and i happen to know, too, many of the amendments we are seeing, are not designed to make the bill better but take the bill down. i suspect the amendments wouldn't be inclined to support the legislation. my time has expired. the chair: the gentlewoman from south carolina is expired. the gentleman has three minutes. the gentlelady from california has two minutes.

>> the gentleman from is recognized for two minutes. >> i had to laugh. mr. mulvaney: muscle i was in a committee meeting saying that congress does it all the time. and i'm glad the folks making the arguments aren't in charge of private banks. in fact, if they were, they probably would be in jail, because some of the same restrictions that are caped in d.o.d. frank are what the rules that they are breaking. wouldn't allow the market concentration. d.o.d. frank wouldn't permit it. don't have them on the hoke but taxpayers on the hoke. i will remind everyone that the report has suggested has

suggested the reforms. anyone with banking experience and even anyone with common sense would look atlanta this too much ere is concentration. bank.s a bad way to run a it should be run like a bank. i reserve. the chair: the gentleman reserves the balance of his time. the gentlewoman from california is recognized. . waters: i yield to congressman lucas. mr. lucas: i think we need to look at the bank. the amendments, you should vote against them, they are not trying to kill the bank but trying to do something. well, didn't the bank expire in

july? do business? is president that the definition of dead? by lack of their lacks they have killed it. with their actions, they'll resurrect, not likely my friends. let's get on with the business. let's fight the fight. and one more time, let's give meam can business the opportunity to compete. who knows, we might have to do it three, four more times. let's keep doing it for american business. that's all i'm asking. let's do the right thing and abide by the decision of the house and i yield back. the chair: gentleman is

recognized. the gentlewoman from is recognized. ms. waters: i yield one minute to the gentleman from nevada. . heck: the gentleman from suggested that it was a political extension of this extension. let's be clear. on it has been a extension of every administration since it was created in 1934. all 13 presidents have supported. liberals and conservatives. 16 times it has been re-authorize and every time and every time overwhelming. nd earlyer remarks, they are suggesting it is both ways and we try to pick winners and loser. this exhibit a compels the

diversification, not based on need. that's not what a good debate does. e export-import bank needs a specific need and it creates jobs, oppose this amendment and oppose all amendments. the chair: the gentleman's time has expired. the gentlewoman's time has expired. -- gentleman from sourget the gentleman from sourgetscoorl is allowed to clause. mr. mulvaney: a lot of people and personal very proud of the bank and happy with the way the bank is run. need to nk doesn't change very much at all.

years, years, 75 palestinianed time. and 90 criminal indictments and complaints, 49 judgments andal quarter of a billion dollars because of wrongdoing. we are proud of that? that's something that doesn't need serious overhaul. we have done it for so long. maybe it has been a long time since we looked at this bank. maybe we shouldn't have rubber stamped it. maybe the bank should have followed the law we passed in 2012. what does it say that ignores the law that this senate passes and the president signed. ou combine that, which is only

described as bureaucratic arrogance with this, criminal ime, judgments, fine and restitutions. and an institution. the amendments that you will see is in on that. it was timely tuned so that could not happened. this is it. the chair: the question is on the amendment offered by the gentleman from north carolina. those in favor say aye. those opposed, no. the opinion of the -- mr. mulvaney: i ask for a recorded vote. the chair: further proceedings on the amendment offered by the gentleman from north carolina will be postponed. it is now in order to consider amendment number 7 printed in 114-236, house report

for what purpose does the gentleman from pennsylvania seek recognition. the clerk will designate the amendment. the clerk: printed in part offered by mr. rothfus of pennsylvania. the chair: pursuant to house resolution 112, the gentleman from pennsylvania and a member opposed each will control five minutes. mr. rothfus: i israel myself such time as i may consume. i cannot understate the importance of this attempt. the house has an opportunity to begin today what may be a long process of guarantees. and we can ensure that when bills come due in 10 years that we will be abe to meet these commitments. my amendment supports small businesses and ensures they will

export goods and services. amendment is protecting the american taxpayer and while the loan will have a taxpayer guarantee, the u.s. exporter will be responsible before you go to the taxpayers. ou you need to go to the country of australia. the american taxpayer lost millions of dollars because the deal wasn't col rat liesed. this is important, mr. chairman. this amendment will allow representatives to cast a vote on whether it is fair and pruned where profits stay in the

private sector. this is described as prife advertising the profits and socializing the losses. it does not apply to an exporter who is a small business. early 8990% of the banks support small businesses. it will not impact mom and pop businesses. when a foreign government takes purses if thatuy person defaults on the loan which belongs to the taxpayers. the big businesses would have to pay. startingrm is faced in apa mere 10% and 20% in 2017 so on. loans will still get made.

the bank will operate but the taxpayers will have a chance to mitigate requestening a a bailout to the tune of $3 billion. why is this so port? the american takes pairs are the guarantors. thrl level of taxpayer leverage is not sustainable. and in 10 years when we look into the eyes of our seniors and veterans we will need to uphold the commitments. mr. chairman, the modest reforms are a small step. we can and we must start this process today. i urge my colleagues to support this amendment and i reserve. the chair: the gentleman reserves the balance of his time. for what purpose does the

gentlewoman from claim time in opposition? ms. waters: i yield to the democratic leader nancy pelosi, one minute. ms. pelosi: i thank her for her tremendous leadership, i join mr. heck and representative hoyer and so many others on the republican side of the i'll who have been strong loaders on re-authorization of the ex-im bank. some concerns have been raced here. in terms of this amendment, i rise in opposition to this and ate that the bank's port ollow yeoh has been collat liesed. and it is funded through user fees through fewer cuss mirs and has generated close to $7

billion, money that has been sent to the u.s. treasury. the previous speaker talked about sop incidents of fraud which he said were associated with the bank. i think it is important for our colleagues to know and those listening to this debate that those incidents of fraud exacted upon the bank not by the bank. and so, the charge that this is a fraud within the bank is similarly not true. these are people who tried to defwraud the bank. there was one fraud which they called out one incident. dub ust want everyone to don't be misled into thinking that it is a fact. and that's why we have an i.g.

creates a nonpart san chief officer and requires the g.a.o. to require the bank's fraud controls. legitimate controls raised. you he bank shouldn't be are but it is a good evening but it has strong bipartisan support that cre ace jobs and reduces the deficit and enables u.s. companies to have markets for our products overseas. not only big businesses that is addressed in this amendment. and for small and moderate businesses that wouldn't have he resources to find markets

abroad the ex-im bank has created for that purpose. thank representative dent and others for bringing this to the floor, and we have a bill that's not only good for our highways in terms of transportation but also re-authorizes the ex-im bank in order to agree with the language in the senate bill. so all these amendments, however well intentioned or well thought out, have the additional burden of taking down the bank. maybe saving it for another day. but in the here and now we do not need any amendments on the ex-im bank in the transportation bill, just because the ex-im bank is authorized in the transportation bill in the senate. this house very thoughtfully passed our own authorization.

i would hope that the senate would agree to our language, unamended. with that, i commend all of you who make this possible and look forward to a celebration of passing the highway bill that does not take down the ex-im bank. i yield back the balance of my time. the chair: the gentlewoman's time has expired. the gentlewoman from california yields. the gentleman from pennsylvania is recognized. mr. roth fust: i reserve. the chair: the gentlewoman from california is recognized. ms. waters: i yield to the gentleman from washington, one minute. the chair: the gentleman is recognized for one minute. mr. heck: thank you. i'm not as calm as the leader in her remarks because i think enough is enough. not directed at the offer -- offerer of this amendment to a previous speaker, i cannot help but be reminded of joseph welch in mccarthy hearings when he said, have you no sense of decrency sir at long last?

with one exception these indictments were outside the bank trying to defraud the bank and yet it is offered here today as a reflection on the three or four hundred employees down there. what do they do? well, they have a default rate that is one tenth the rate of transactions in trade by the private sector. one tenth. they have a collection rate that is the envy of the commercial banking sector. they transfer funds to the treasury. $6 billion or $7 billion in the last generation. that's what these hardworking people do. stop it. stop making comments that reflect on all these people who are hardworking civil servants that are doing the job, who are reducing the deficit, and yes they're supporting and creating jobs. what does mean? create or save. the g.a.o. says that. not me. the g.a.o. stop it. the chair: the gentleman will suspend. the gentleman's time has expire the gentlewoman reserves. the gentleman from pennsylvania is recognized.

mr. shuste rothfus: i reserve. the chair: the gentlewoman from california. ms. waters: i yield to the gentleman for onemen. the chair: the gentleman vecknidsed -- recognized for one inute. >> the bank doesn't lose money. it returns money to the treasury for every year. we are reforming this as a republican reform bill. mr. fincher: we should be happy when democrats want to cross the aisle and support republican ideas. s that republican reform bill and so the gentleman that makes the argument on this amendment, the aircraft section of the portfolio is over on collateral 1.4 to one. these are bogus arguments. these are amendments to kill the bank. this is sad when people put their political scorecards above their constituents.

this is about johns in all of our district -- jobs in all of our district. they're not using the facts. the fact rts, this creates lots of jobs at no cost and we're reforming the bank. read the bill. read the bill, mr. speaker. and maybe we would have more than 313 votes next time we vote on this. i yield back. the chair: the gentlewoman reserves. the gentleman from pennsylvania is recognized. mr. rothfus: i've heard a number of times that the bank doesn't cost anything but if you look at the budget office analysis it costs $2 billion over 10 years. there'll be an amendment later on talking about that. i think people forget about the $3 billion taxpayer bailout that export-import asked for in 1987. finally, you know, fannie mae and freddie mac were fine until they weren't. and they left the taxpayers with $150 billion tab. i'm looking 10 years down the road, mr. chairman. looking at the debt that this

country continues to accrue an thinking about the obligations that we have to meet in 2025, per our seniors. -- for our seniors. for our veterans. i want to make sure we're not going to have a bailout at that time of this constitution. all this amendment does is says who bears the risk of loss? -- loss? the taxpayer or the entity that made the profit. i continue to reserve the balance of my time. the chair: the gentlewoman is ecognized. ms. waters: i yield one minute to congressman lucas. the chair: the gentleman is recognized. mr. lucas: i thank the gentlewoman. i would note that the bill rears businesses to factor in guarantee for repayment in addition to the fees and interest already required. those additional costs would make it -- make u.s. business less competitive that said, once again, i urge my colleagues to turn back this amendment, turn

back all 10 amendments. remember, the bank expired in july. when my friends say they don't want to kill it, they already have. now they're just trying to keep it from being brought back to be able to function at part of our economy. look through the amendment process we're going through here. look at the whole process we're involved in. understand what's really occurring. nothing ever happens by accident in poll sicks, right? or the legislative process. understand the fight we're engaged. in turn back this amendment. turn back all these amendments. let's get with it. if we could have made things better six months ago, we would have. but we weren't allowed to. i yield back. the chair: the gentleman's time has expire the gentlewoman reserves. the gentleman from pennsylvania has 30 seconds remaining. mr. rothfus: i continue to reserve. the chair: the gentlewoman has one minute remaining.

ms. waters: thank you very much, mr. chairman. this amendment has been offered in an attempt to delay and derail the bank's re-authorization. despite the implication made by the gentleman's amendment that ex-im is undertaking and mismanaging excessive risk, it's important to be clear on the fact that the bank has a portfolio that is well deserved -- well diversified regionally and by sector, spread over 170 countries and dozens of industries. the bank's portfolio is also well collateralized, especially in its larger product sector. and it maintains a loss rate of less than one quarter of one percent. moreover, ex-im bank's strong portfolio has withstood the test of anytime rouse market disruptions in the past. finally the bank is also self-funded. largely through user fees collected from foreign customers and has generated a surplus of close to $7 billion, money that has been sent to the u.s.

treasury to help lower our deficit. i urge all members to reject this amendment and i reserve the balance of my time. the chair: all time has expired. the gentleman from pennsylvania is recognized. mr. rothfus: thank you, mr. chairman. i think people have a short memory of what happened with fannie mae and freddie mac and the $150 billion loss those institutions incurred. this amendment does not end the bank. it allows loans to continue to be made. it simply puts a firewall between a potential loss and the taxpayers. who bears the risk of loss? the taxpayers or the entity that made the profit? i suggest that there should be phased in over time 10% the first year, 10%, a min us kuhl ask that those who make a profit from this bank have little skin in the game. small businesses are exempted. i ask for support of this amendment. i urge my colleagues to vote yes.

the chair: all time has expire. the question is on the amendment offered by the gentleman from pennsylvania. those in favor say aye. those opposed, no. in the opinion of the chair the noes have it. mr. rothfus: i ask for a recorded vote. the chair: a roll call has been requested. pursuant to clause 6 of rule 18, further proceedings on the amendment offered by the gentleman from pennsylvania will e postponed. it is now in order to consider amendment number 8 printed in part b of house report 114-326. for what purpose does the gentleman from california seek recognition? mr. royce: mr. chairman i have an amendment at the desk. the chair: the clerk will designate the amendment. the clerk: amendment number 8 prinned in part b of house report 114-326 offered by mr. royce of california. the chair: pursuant to house resolution 512, the gentleman from california, mr. royce, and a member opposed each will control five minutes. the chair recognizes the gentleman from california.

mr. royce: thank you, mr. chairman. i would explain to my colleagues at the outset that i frankly think we should voice vote this amendment without objection. i think it is misguided to oppose it because this amendment is not part of this fight over ex-im. what this fight is over, what this amendment is over is my experience in terms of the resident waiving, or using waivers and i will explain to you my worry. if we don't close this loophole. which i frankly think it would be very easy to close. i think the senate would agree with us. but export-import bank loans and guarantees, obviously, would be absolutely off limits to state sponsors of terrorism. if we write the law correctly. the worst of the worst, iran, syria, sudan, should have the

bank door slammed shut, period. that's what this amendment does. no administration wiggle room. none at all. one country where the ex-im has not operated in recent years in iran and this is because of our sanctions. but of course much of this sanctions regime is going to be suspended. misguidedly as part of the president's nuclear deal system of what does that mean? for one, the administration is committed to making it possible for iran to purchase commercial aircraft. i think we can all agree ex-im supporter and opponents alike that iran should not be entitled to american taxpayer financed aircraft deals. iran has a long history of using its commercial airlines to support its terrorist proxies. its commercial flights are now flying military personnel to syria and when i say now, i mean right now. iran is on a roll in the region,

undermining our partners and backing the murderous assad regime in syria. now some parts of u.s. law, most notably in the foreign assistance act, do prevent ex-im from engaging with state sponsors of terrorism, but these commonsense prohibitions are subject to presidential waivers. and we have seen the president abuse waivers to pursue his agenda over and over again on iran. no matter what congress thinks. without consulting congress. the administration signed us up for an agreement that will waive sanctions year after year until iran has nuclear breakout capability. that's the way i think this ends. so mr. chairman, the foreign affairs committee that i chair is continuing to examine the iran agreement in great detail.

we understand how this administration has abused its authority to force a deal that allows the ayatollah to keep a path to a nuclear weapon, in my view, with little regard for the views of the american people or their representatives in congress. and this is not just about iran. the administration is unilaterally bending, ignore, rewriting law to advance its agenda here at home toward cuba and elsewhere. so this amendment protects against executive overreach. it would strengthen existing law by prohibiting any bank activities in connection with the purchase or lease of any product by a country that is designated as a state sponsor of terrorism to include any agency or national of that government and it prohibits the waivers that are currently exercised by the president. and that means that anyone who is a national of iran or an appendage of that state sponsor of terrorism, cannot benefit from the bank, iranian

government and its revolutionary guards, which is increasingly involved in transportation new york energy, in construction new york telecommunications are set to profit from the president's nuclear agreement. that's bad enough. but they shouldn't be getting ex-im backing on top of that. and given my experience with this president work the waivers he's already given, i want that loophole closed. i don't think there's a reason for debate on this. i think it should be voice voted. i think the senate will concur in that and i encourage my colleagues to support this amendment. i reserve the balance of my time. the chair: the gentleman reserves. for what purpose does the gentlewoman from california seek recognition? ms. waters: i claim time in opposition to the amendment. the chair: the gentlewoman is recognized for five minutes. ms. waters: i yield myself one minute. he chair: the gentlewoman is ms. waters: this amendment is aimed at fracturing its majority

coalition that has overwhelmingly backed the ex-im bank. for members, i urge to keep in mind you will be voting to send the ex-im provision into conference and into the hands of chairman hensarling which will prove fatal. the omnibus spendic bill, the supportopted, prohibits of terrorism. i urge members to appreciate the extraordinary efforts it has taken on both sides of the aisle to get us to this point and eject this poison-pill amendment. i reserve the balance of my time. the chair: the gentlewoman from california is reserving.

>> it's my understanding that with or without passage of this amendment, the transportation bill, with the ex-im language is going to conching with the senate. that's the next step. so for the life of me -- and i understand some believe this and some have been told that this in some way affects that conference. i don't think so. it's going too go to conference. and i don't understand the -- whether you are for or against ex-im, you don't want this president to have a particular wamber. the chair: all time has expired. the gentlewoman from california is recognized ms. waters: i yield three minutes to mr. lucas.

the chair: the gentleman is recognized. mr. lucas: let's look at the lay of the lapped. i'm a farmer by trade. you look at the lay of the land. the amendments offered today, the six principal ought thors, all members of financial ervices, all none of them were proponents. but none of these six as i remember demanded that we bring the bill up. and none of these six signed the discharged petition to use a rule of the house to allow this body have its says. i don't believe any of these six authors voted to discharming the petition or voted for the final product last week when 41 of this body and the majority of

the body voted for it. understand the lay of the land. understand the nature. now, this particular amendment, i have the greatest of respect for the chairman of the chairman of the foreign relations committee. he is extremely sincere. but, my friends, the issues he brings up are relevant. of his chairman machineship the committee he presides off has jurisdiction. it would be a one part of the federal government. maybe we need a bill to address all of these kidse of situations. maybe we need, as we should have n export-import, a thoughtful,

krt process to craft a good piece of legislation. i know he is capable of it. let's do it in that except of regular order and in regular process. let's not take that situation where we had to do extraordinary things to give the house the chance to make the decision. let's not take this situation now and in the spirit of the folks that set up the process and said, the house decided -- the house's opinion does president matter. i have faith this evening that after my colleagues have listened to this debate when they coom the the floor, they'll turn all 10 down.

and i'm sorry, my colleagues we are doing this. this was decided last week. but i hope if we'll send a clear message turn back all 10 amendments, that this will be over with. let's not do this next week. thank you. the chair: jarks. the gentlewoman is recognized. ms. waters: i yield one minute to mr. sherman. the chair: the gentleman is recognized for one minute. mr. sherman: i have tremendous rerespect but any amendment to the ex-im title means it is open to the conference which will kill the ex-im bank. we shouldn't adopt it. we have three progress three provisions.

first, the banks eel own chartered prohibits them from extending loans that vilingts any u.s. sanctions. the foreign assistance act allows for presidential waiver but that i a waiver that is mited but it has cause the ex-im bank to pledge not to seek a waiver under any circumstances that they can currently could be seff. the last 10 appropriations bills ave an absolute ban on the trirment. now i would like the next omnibus bill to have the gentleman's bill.

the chair: the gentleman's time has expired. the question is on the amendment offered by the gentleman from california. all those in favor, say aye. those opposed, no. in the opinion of the chair, the ayes have it. ms. waters: i ask for the yeas and nays. the chair: a recorded vote is ordered. further proceedings on the amendment offered by the gentleman from california will be postponed. it is now in order to consider amendment number 9 printed part b, for what purpose does the gentleman from arizona seek recognition sm >> i have an amendment at the desk. clerk clerk amendment number 9 of red by mr. shikewert

arizona. the chair: the gentleman from arizona and a member opposed each will control five minutes the the chair recognizes the gentleman from arizona. mr. schweikert: pl chairman and my fellow members, let's do some basic accounting, something we would remember from our 101 class. how many times have we had the discussion, ex-im bank, its losses are tiny. 1.7%. do any of you remember the hearing with the head of the ex-im bank, can you tell me your impairment. an irmparmente is someone not paying. the head stared at us. gainsns out that the bank

their losses. this is how they report such a great number. if i turned to you and said, your neighborhood bank has a lon on the book that has sat there or 55 jeers without a payment. wouldn't you think that wouldn't be in the calt gore? did you would have been scharged off or could you imagine a d.o.d. frank regulated bank with no payment for 55 years? they have a $36 million loan to pre-castro cuba on their books, and we found lots of this sort of stuff. this is very simple. it says do what the rest of the

world has to do and use fair-value accounting and i reserve. ms. waters: i yield to twints to i rise in opposition to this amendment and claim time in opposition. the chair: the gentlewoman from california is recognized. opposition i rise in to the amendment offered by the gentleman from arizona which would do little to improve. the amendment is a cynical art t to inaccurately ap fish fishly the cost.

the fact of the matter is that the ex-im bank has been extraordinarily careful in its risk management which has pretend it a to isn't real is incredible. majorities in the house and senate have passed identical measures that excluded this provision and would serve to undermine the bank's authorization. i reserve. the chair: the gentlewoman reserves. mr. schweikert: i reserve. the chair: the gentleman from arizona reservings. the gentlewoman from california is recognized. ms. waters: i yield to mr.

sherman, two bhints. the chair: the gentleman is ecognized for two minutes. mr. sherman: this bank is important. that's why ronald reagan said in 9 4, the export-import bank contributes. amendment.t adopt an now this amendment deals with accounting. as co-chair of the c.p.a. caucus, i understand the importance. as a crmplet p.a. we are the refer fees that make shure that accounting rules are followed. the amendment talks about fair value accounting. don'ton fuse fair-vamhvamue

accounting. it is not the same as generally accepted accounting principles. stick with those principles, stick with the principles consistent with the c.b.o. and those principles show you that the bank makes money for the treasury and transfers are half a billion a year. we don't look at whether the bank is making money, but whether they would be making money if we lived in a fair world. so, you would say, for example, in looking at the cost of funds and what it takes to borrow money and look at the accounting statements of pizza hut and say don't look at what they paid but .hat they would have paid but maybe we don't live in a

fair world. but generally acceptable principles whether a company is losings money in the real world. stick with generally acceptable accounting principles. stick with the c.p.a.'s and tick with g.a.p. . . the chair: the gentlewoman from california reserves. the gentleman is recognized. mr. is schweikert tissue mr. schweikert: you'll be happy to know c.b.o. supports fair value accounting. the chair: the gentleman reserves. the gentlewoman from california. ms. waters: i yield to a real champion and leader, mr. fincher, for two minutes. the chair: the gentleman is recognized for wo minutes. mr. fincher: let's go back to the facts. the facts are, this is a

republican reform bill. the gentleman from south carolina is listening. this doesn't cost the tax pay aerodime. the scare tactics from my colleagues that are trying to kill the bank are not going to work. this returns $500 million to $1 billion per year to the treasury to help pay down the debt. you know, my colleagues that are in opposition to this talk about us picking winners and losers. the supporters of the ex-im bank. you know what? we are picking winners. american jobs. those are the winners here. this is shameful that we're having this debate tonight at 10:00 on an issue that could have been handled in our committee a year ago and the gentleman talks about hearings, we haven't had any hearings. in how many months? i don't know if we've had any this congress. y had some last congress. we haven't had any this congress. this is how we fix issues.

we have hearings. we have markups. we debate them in committee. and then we move items to the floor. but that didn't happen this time. so what we have is, we have 10 amendments, as the chairman from oklahoma said a few minutes ago, the bank's already dead. they succeeded. but they want to bury the bank now. let's put american jobs first and put political scorecards and trying to out-conservative each other for some ranking in some book last. let's work for our districts and not play political games, mr. speaker. i urge my colleagues once again, vote no on all of these amendments and let's put people back in charge. with that, i yield back. the chair: the gentleman yields back. the yom from california has 15 seconds. the gentlewoman reserves. the gentleman from arizona. mr. schweikert: may i request the time. the chair: the gentleman has three minutes.

mr. schweikert: and the time on the other side? the chair: 15 seconds. mr. schweikert: i yield the good gentleman from south carolina 90 seconds. the chair: the gentleman is recognized. >> i want to encourage my colleague, they vote for one and only one of these export-import bank amendments, they should vote for this one. mr. mulvaney: they've probably already voted for it before. in the last two congresses we have voted to put the agencies on fair value accounting. passed it out of the house. don't know where the oklahomases were at that time. but we have already done this as a house and should do it again. to the gentleman's point from california regarding gap, let's be honest with people. government doesn't use gap. government does not use gap the way most people understand it. we use gap for government which is entirely different. let's just settle on this amendment so we can count in a way that people understand. hat if you lent money to the

regime before castro and it hasn't been paid yet, maybe it's a bad loan. if you lent money to shanghai scheck maybe that's a bad loan. let's start counting in ways ordinary people can understand. this is not a poison bill, it's good governance and it would not change the way the bank functions in any way whatsoever. all it would do is change the way the bank counts and tells congress and the american people how it's performing. i strongly encourage, if you're going to vote for one export amendment, export-import agreement amendment, this would be the one. i yield back. the chair: the gentleman yields back. the gentlewoman from california is recognized. ms. waters: ths what our friend mr. sherman called fairy tale value accounting. further than that, president george w. bush calls this fuzzy math.

we've heard everything this evening. we've had every attempt to try and kill export-import bank. and now we're into this fuzzy fairy tale math that's being presented by our friend. the chair: the gentlewoman's time has expired. ms. waters: i urge friends to vote no on this amendment. the chair: the gentleman from arizona has one minute and 30 seconds remaining. mr. schweikert: all right system of fuzzy math. even though we now require the international monetary fund to use fair value accounting. even though many of you when you voted for the troubled asset relief program demanded fair value accounting. we now demand fannie mae and freddie mac, when they're doing their projections, to use fair value accounting. and a whole bunch of us in this room have voted for that. let's actually touch on that. and look, mr. chairman, forgive me. i'm going to try to find the

most elegant way to say this. my friend from tennessee now multimillion -- multiple times has referred to a scorecard. ok. so how many people are voting for this for donation? just a theoretical question. if you're going to impugn, be careful. many of us have been working on this issue since the day we arrived that the body, before it was ever a political issue bouncing up through the blogosphere. this is a problem. our amendment here a fair value accounting. it's actually been supported by the gentleman sitting across from me who opposes this. you've all vote. you've all voted to put all of government on fair value accounting. but now all of a sudden when it's an actual reform to the ex-im bank because we might understand the value of risk and what's really going on and

actually maybe understand what, the impairment category instead of the chargeoff category we'd get honest information. that's what this would do. the chair: the question is on the amendment offered by the gentleman from arizona. those in favor say aye. those opposed, no. in the opinion of the chair, the noes have it. he amendment is not agreed to. mr. schweikert: i ask for the yeas and nays. the chair: the yeas and nays are requested. further proceedings on the amendment offered by the gentleman from arizona will be postponed. pursuant to thed orer of the house of today it is now in order to consider amendment number 23 printed in part b of house report 114-326. for what purpose does the gentleman from georgia seek recognition? mr. wegs moreland: i have an amendment at the desk. the clerk: the clerk will

reminority amendment. the clerk: amendment number 23 printed in house report 114-326, offered by the gentleman from georgia, mr. westmoreland. the chair: the gentleman from georgia, mr. westmoreland, and a member opposed each will control control five minutes. mr. westmoreland: i want to clarify a few things. my amendment is not a poison pill. my friend from oklahoma said that he wanted to play by the rules. that's what i want to do. i've got an amendment i never had an opportunity to submit. you know why? because of the discharge petition. the authors of the discharge petition chose to have it brought up under a closed rule. so i never got a chance. my 700,000 people never had a chance. now, i don't know how many people in frog jump, tennessee, buy wide body planes. i'm sure there's probably one or two that buy them.

but i've got 6,000 delta employees, both current and retired, that live in my district. and what this amendment does, it allows a fair playing field to where you can go to the board of directors at ex-im and give your analysis, not to the ex-im, that's almost like giving your complaint to the opposition's attorney. we want to go to the board. because it's not fair. and i ask unanimous consent to submit for the record "the wall reet journal" article called boeing helped craft, create its own loan rule. they've been cooking the books. so all we want to do is have a chance where we can go to the board of directors and present our case. between ex-im cooking the books

with boeing, that doesn't leave us much of a chance. emirates air probably has the money to pay for these wide body jets. but you know, i respect mr. heck. i respect mr. heck from washington. he's fighting for people that work in his district. that's what i'm trying to do. i'm trying to work and fight for those folks in my district. and all we want is an opportunity to take an analysis, a real analysis, not one that the ex-im bank called boeing and said, you know what, you need to revise this number so we can understand, or we can make a claim for the analysis that you need the money. so with that, mr. chairman, i reserve the balance of my time. the chair: the gentleman reserves. the gentleman's insertion is covered by yen leave. for what purpose does the gentlewoman from california seek

recognition? mr. chairman, i move to claim time in opposition. the chair: the gentlewoman is recognized for five minutes. ms. waters: i rise in strong opposition to the amendment buffer aid the gentleman from georgia, mr. westmoreland, which, with all due respect is a solution in search of a problem that if adopted will only serve to undermine the competitiveness of u.s. businesses. the fact is, the ex-im bank already has a process in place for providing public notice and comments under which any member

of the public, including companies who believe they may have been harmed may submit comments which the board reviews prior to approving any transaction. listening -- lengthing this approval process by an additional four months as the gentleman's amendment would do would only serve to hurt our exporters by preventing them from competing in time sensitive deals. our exports, our u.s. exporters need and deserve every competitive enge they can get. i urge my members to reject this unnecessary and burdensome amendment and reserve the balance of my time. the chair: the gentlewoman reserves. the gentleman from georgia is recognized. mr. westmoreland: i'd just like to tell the gentlelady it's not four months. it's 60 days. it's 60 day -- is 60 days too much to ask that you could go present your case in front of the board of directors? i think that's just fair. to the gentlelady from

california, i understand but you're just reading, you know, something that your staff has given you. it's not four months. this isn't something. this is a new idea. i never got the chance to offer this amendment. mr. fincher, with a discharge petition, evidently wrote a perfect bill. i've been doing this for 25 years. i have never seen a perfect bill. we are trying to perfect the bill that mr. fincher wrote and that the discharge petition brought to the floor on a closed rule where nobody could have any amendments. all i'm trying to do is get a fair check for my folks, just like mr. heck is trying to get a fair shake for his. give me the opportunity, give us an opportunity to do that. i reserve. the chair: the gentleman reserves. the gentlewoman from california is recognized. ms. waters: what the gentleman doesn't realize is we are all trying to get a fair chance fur

our sit -- our constituents, the small businesses and jobs. the chair: the gentlewoman is recognized for one minute. ms. moore: thank you and i want to thank the ranking member. here we have another delta amendment. once again. you know, the ex-im bank already, mr. chairman, has a process in place for providing public notice and comments. companies can provide feedback, which the board reviews prior to approving any transactions. i can tell you that this is very dilatory, again. delta -- all of delta's lawsuits have all been thrown out and this is only another attempt to force the ex-im bank to delay the frustrate degree lay of doing its work. i urge all my colleagues to vote against this dilatory amendment. i yield back to the gentlelady. the chair: the gentlewoman reserves. the gentleman from georgia is

recognized. mr. westmoreland: may i ask how much time remains? the chair: the gentleman has one and a half minutes. mr. westmoreland: i reserve. the chair: the gentlelady from california is recognized. ms. waters: i will callen mr. heck for one minute. the chair: the gentleman is recognized for one minute. mr. heck: thank you, mr. chairman. my favorite literary theme is illusion reality. you don't know whether you're an illusion or in reality. greatly used throughout our culture. great movies like "the stuntman," classic literature like ulysses by james joyce. it's not a good axis on which to pivot around an argument on public policy. let's leave the illusion behind and go to reality. here's the reality. the ex-im does support job, 164,000 last year. g.a.o., which you keep cite, approved its methodology. what's the proof? we've already lost nearly 1,000 jobs since you shuttered the

doors of the ex-im. the retail is this is unilateral disarmament if we fail to re-authorize it. every other developed nation has an export authority. the reality is that this reduces deficit. the ex-im reduces deficit. every year for 20 years. since the enactment of the credit reform act it transfers cash, to heck with the accounting system, cash. the reality is a lot of these small businesses don't have an alternative. if you have a peppeding deal, tell me what it is. he lost the deal. an yippedian company combot the deal. the chair: the gentleman's time has expired. mr. westmoreland: i don't know

what the gentleman is talking about reality, because the reality is that my constituents are losing jobs and that's not fair. and for this, not to be fair, is it too -- i believe gentleman is an attorney. we want to ask them to make a decision within 60 days. i'm not going to go to an attorney who is fighting me and say, here is my thing, give it too somebody else. that's fox looking after the henhouse and that's not the way we need to operate. i reserve. the chair: the gentlewoman from california is recognized. you have two minutes remaining. ms. waters: i yield one minute to mr. himper.

mr. hinchey: this already is a loud in the current charter. i know the gentleman from georgia wants to play political games and this is another attempt to keep the bank, ell bury and it's sad. we worg on this reform package this reform package for a year and-a-half. where was the the gentleman from, mr. muscle vappy with his endments and the other members. we didn't have a -- no, we're not. where was the process where he could offer his amendment. no, mr. speaker, they wait until they could bury the bank tonight and kill thousands of jobs ap

reward china and russia. we need to kill it. with that, i yield back. the chair: the gentleman from georgia is recognized. mr. westmoreland: if he would c-dmp my on 2-e-7 amendment tries to amend. and 'm trying to help -- the other thing is i never saw the gentleman's bill. i never had a chance to amend the gentleman's bill. if the gentleman had allowed the open process, the right process that the the gentleman from oklahoma would have talked out, i would have had an

opportunity. so don't talk to me about process because the process has not be fathered here. all i'm trying to do is do the same thing. i'm trying to represent my constituents and i think i deserve a chance to do that and perfect a bill that mr. fincher and the others brought to the floor -- the chair: the gentleman's time has expired. the gentlewoman is recognized ms. waters: i yield one minute to the champion, one of our champions on the re-authorization of ex-im bank plrks loudoun county as. the chair: the gentleman is recognized. mr. lucas: i think the world of m he is a great fellow but

politics is like life. loif is like life. this summer, and the opportunity to doal these great things went away. we knew it was go to go expire in july and the people in critical positions let it happen. this has resurrect what has already died. let's put it on the books for four years. if there are reforms and changes hat need to be made let's go with, but let's not stop the stunts that are created. i don't have much time. i would say to my friend of mergia who has outsoutherned all the way to the core --

the chair: the question is on the amendment offered by the gentleman from georgia. those in favor say aye. those opposed, no. in the opinion of the chair, the noes have it and the amendment is not agreed to. mr. westmoreland: i ask for a recorded vote. the chair: pursuant to clause 6, rule 18, further proceedings offered by the gentleman from gay is postponeded. it is now to consider eafment number 10. for what purpose does. >> i have an amendment at the desk. the chair: the clerk will designate the amendment. the chair: the gentleman from iowa, mr. young and a member . posed each will control each

mr. young: mr. chairman, we talked a lot about transparency and klt built around here and hear about the needs from our constituents regarding the federal government. it's time to quit the talk ap walk the talk. how do rulemablingers get their conclusions and how do they come to a clonclution? theyhave certain data that look at but we don't see that. we hear the cop clougses and wonder how they get to that conclusion. my amendment simply says those tools have to be made public and

posted on line. we can see it all as well and have the same benchmark. why shouldn't america caps have access ap a more transparent government. let's walk the talk. this amendment has been approved before as part of the rains act. ow the rains act looked at the federal government but this is the department of transportation. this is common sense and what our constituents demand and i reserve. the chair: the gentleman from iowa reservings. for what purpose does the gentleman from witching claim?

ms. moore: i claim time in opposition. thank you, madam chair. this amendment would not only ndo all of doled frank and legislation, i support the mandates already caped in federal security laws and president obama's executive order . this particular amendment would mean that it would take even longer as s.e. cremplet is reaching the standards to stave off upcoming court battles in tax projection. ot osm that, this initiative

would open the door the chair: the gentlewoman would suspend. members will take their conversations off the floor. the gentlewoman deserves to be heard. the gentlewoman is recognized. ms. moore: the dangerous part is this would open the door to the most powerful who could challenge if it was possible, they could challenge the rules in a way that achieve their most arrow interests and to the detriment of the market parents. and not only use the courts, but hey would seek competitive advantages. current law requires them toll

and i urge my colleagues to oppose this amendment and i reserve. the chair: the gentlewoman from wisk reserves. >> i yield migse such time as i may consume. mr. young: i heard them talk about the d.o.d. frank and the orders and we are talking about the rules and regulations ertaininging to this will act. i believe it is very important that we have more transparency and will ml will will i don't see what the american p.m. being allowed to see the data, the

science, the criteria, that those who make these rules mrs. comstock: up with. so i splimly ask my colleagues to support this amendment, transparency and we talk about it a lot. i have some other great eamingts. but i'm asking my colleagues to support transportation and accountability and how we make decisions that affect their lives. i reserve. charet the gentleman reserves the balance of his time. ms. moore: can you advise how much time is remaining? the chair: you have three minutes remaining. ms. moore: i appreciate the fact that the gentleman has claimed

that he is restricticing this to the highway bill. it's problematic, because it would really impose cost benefit analysis on all rulemaking under the highway bill as amended and would require several rulemaking from the f.e.c. private security exemptions. reflyer require them to the additional litigation risk. it's not limited to the bill, ust in terms of its multiplire impact. is legislation is just yet another attempt to stop the

ex-imbank which we have discussed earlier today because t's again would would create a sufficiently high bar to pass new rulemaking and open up every rule to ongoing litigation and with that, i reserve. the chair: the gentleman from iowa is recognized. mr. young: transparency is a good thing, folks. shining sunlight is a good thing. the best disinfectant out there why can't we know, the american people, the science, the cost benefit, behind the regulations inflicted upon the american people? good or bad. whatever they are. madam chairman, the other side, my friend mentioned the ex-im

bank. i'm not in that battle with this amendment. this is just about general rules and regulations, the science behind them, why can't the american people know what it is? we'll all be on the same playing field so we know what we're talking about. it's a good thing. i reserve. the chair: the gentleman from iowa reserves. the gentlewoman from wisconsin is recognized. ms. moore: madam chair, this has been misnamed as a transparency bill. it's not a transparency bill. this cost benefit bill literally is a race to the courthouse bill. and we would just be in an endless, litigious position. we're already late with the transportation bill. we have already created great uncertainty for all of our

cities and counties and towns in america. subjectd we now want to our broken bridges and our broken transportation system to yet another dilatory tactic that sort of slows down our ability to create good jobs and to fix our infrastructure. madam chair, this is just, i would urge all members to vote against this initiative because it is wrongheaded at a time when we really need to get our transportation and infrastructure improvements back on track. with that, i yield back the balance of my time. the chair: the gentlewoman from wisconsin yields back. the gentleman from iowa is recognized. mr. young: how much time do i have left? the chair: the gentleman from iowa has two minutes remaining. mr. young: thank you. so we can't find out what the

science is. at the same time we don't know who these nameless, faceless folks are in the bureaucracy who are put ought these rules and regulations. why are we to be left in the dark? what is wrong with transparency? sunlight is the best disinfectant. the american people are tired of this. are tired of this veil around our government. i don't care what administration it is. republicans, democrats, why should it matter? i put my name on a bill and amendment. you do too. but these rules and regulations that come out, we have no idea who these people are. they could be very well intended and that's fine. we don't know if their titles are either are they experts in their fields? we don't know. where is the transparency this amendment passed in a bipartisan way before. i'm asking for my colleagues to support it this time. i yield back the balance of my time. the chair: the gentleman yields back.

the house will be in order. the question is on the amendment offered by the gentleman from iowa, those in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. he amendment is agreed to. ms. moore: madam chair, i ask for the yeas and nays. the chair: pursuant to clause 6 of rule 18, further proceedings on the amendment offered by the gentleman from iowa will be postponed. pursuant to clause 6 of rule 18, proceedings will now resume on those amendments printed in part on house report 114-326 which further proceed wrgs postponed in the following order. amendment number 1 by mr. perry of pennsylvania. earment number 2 by mr. mulvaney

of south carolina. amendment number 3 by more mulvaney of south carolina. amendment number 4 by mr. mulvaney of south carolina. amendment number 5 by mr. mulvaney of south carolina. amendment number 6 by mr. mulvaney of south carolina. amendment number 7 by mr. rothfus of pennsylvania. amendment number 8 by mr. royce of california. amendment number 9 by mr. schweikert of arizona. amendment number 23 by mr. westmoreland of georgia. and amendment number 10 by mr. young of iowa. the chair will reduce to two minutes the minimum time for any electronic vote after the first vote in this series. the unfinished business is the request for a recorded vote on amendment number 1 printed in part b of house report 114-326 by the gentleman from

pennsylvania, mr. perry, on which further proceed wrgs postponed and on which the noes prevailed by voice vote. the clerk will redesignate the amendment. cloim amendment number 1 printed in house report 114-offered by mr. perry of pennsylvania. the chair: a recorded vote has been requested. those in support of the request for a recorded vote will rise and be counted. a sufficient number having risen a recorded vote is ordered. members will record their votes by electronic device. this will be a 15-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.]

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the chair: on this vote, the yeas are 121, the nays are 303. the amendment is not adopted. the unfinished business is the request for a recorded vote on amendment number 2 printed in

114-326 house report by the gentleman from south carolina, mr. mulvaney, on which further proceed wrgs postponed and on which the noes prevailed by voice vote. the clerk will redesignate the amendment. the clerk: amendment number 2 printed in the part b of house report 114-326 offered by mr. mulvaney of south carolina. the chair: a recorded vote has been requested. those in support of the request for a recorded vote will rise and be counted. a sufficient number having risen a recorded vote is ordered. members will record their votes by electronic device. this is a two-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.]

the chair: on this vote, the yeas are 117 --

the chair: on this vote the yeas are 117, the nays are 309. the amendment is not adopted. the unfinished business is the request for a recorded vote on amendment number 3 printed in part b of house report 114-326 by the gentleman from south carolina, mr. mulvaney, on which further proceedings were postponed and on which the yeas prevailed by voice vote. the clerk will redesignate the

amendment. the clerk: amendment number 3 printed in part b of house report 114-326. offered by mr. mulvaney of south carolina. the chair: a recorded vote has been requested. those in support of the request for a recorded vote will rise and be counted. a sufficient number having risen a recorded vote is ordered. members will record their votes by electronic device. this will be a two-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.]

the chair: on this vote, the yeas are 124, the nays are 302. the amendment is not adopted. the unfinished business is the request for a recorded vote on amendment number 4 printed in part b of house report 114-326 by the gentleman from south carolina mr. mulvaney on which further proceedings are postponed and on which the noes prevailed by voice vote. the clerk will redesignate the amendment. the clerk: amendment number 4 printed in part b of house report 114-326, offered by mr. mulvaney of south carolina. the chair: a recorded vote has been requested. those in support of the request for a recorded vote will rise and be counted. a sufficient number having risen

a recorded vote is ordered. members will record their votes by electronic device. this is a two-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.]

the chair: the amendment is not

adopted. the unfinished business is amendment number nine offered by the gentleman from south carolina, mr. mulvaney, on which further proceedings were postponed and on which the ayes prevailed by voice vote. the clerk will redesignate the amendment. the clerk: amendment number 5 rinted in house report 114-326 offered by mr. mulvaney of south carolina. the chair: a recorded vote has been requested. those in support of the request for a recorded vote will rise and be counted. a sufficient number having risen a recorded vote is ordered. members will record their votes by electronic device. this is a two-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.]