regulation down the road. i'm excited this bill is up for a vote in the house today and has such strong bipartisan support. mr. speaker, i urge adoption of my bipartisan legislation and once again thank everyone who's had a hand in bringing this to the floor. i'm hopeful for the future of this committee in the 116th congress. with that, mr. speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the gentlewoman from california is recognized. ms. waters: i reserve the right to close. the speaker pro tempore: the gentlewoman reserves. the gentleman from north carolina. mr. mchenry: 3-3. the house financial services committee comes out with three bills, they are bipartisan. i would hope the house would adopt them tonight. i think this is a great first step in this long road of legislating.

the chairwoman has shown that interest, that inclination to work together where we can, where we can achieve consensus across the aisle. and that -- i mean that as a compliment. and in the politics of today, when you are working across the aisle, that seems like that is an insult in some factions. i know that chairwoman waters has worked inintently to get to the position of chairing this committee for a little longer than i have to be the ranking member. but as she she showed me on the opening day, she has the gavel and i do not, but where we can work together, i'm honored to be able to do so. i tharning my colleague, mr. budd, for working on financial nnovation as well as cript toe -- crypto currencies and i

appreciate mr. lynch being engaged. and i look forward to more legislation coming out of this committee and more activities that i'm sure that will be a part of this. i'm now informed we do have one member to close, and that will be mr. riggleman, a new member from virginia, who has a great al of experience in national experience. the speaker pro tempore: the jam is recognized. mr. riggleman: i would like to thank representative budd for sponsoring this bipartisan legislation. while i may be new to congress, i'm familiar with terrorist threats and the danger they pose to the safety. served in the air force as an intelligence officer. i supported file the money

analysis in operations related o terrorist financing. financial technology evolves, so do the opportunity for criminals to take advantage of the financial system. this calls for law enforcement and private sector experts to create the task force to combat terrorism. this task force is charged with developing innovative members and use technologies to advance their agenda. this is integral for everyone, which is why it is critical that experts come together to protect our financial system from terrorists and other bad actors. for these reasons and many others, i strongly support this bill and i yield back. the eaker pro tempore: gentleman yields back the

balance of his time. the gentlewoman from california is recognized. ms. waters: i would like to thank representative budd and representative lynch for the work that they have put on this legislation. and i would like to take a moment to thank mr. lynch for not only this legislation, but all of the efforts that he has put forth on the financial services committee that has benefited this congress and our country. and so, with that, let me just say that i rise again to encourage my colleagues on both sides of the aisle to vote for h.r. 56, the financial technology protection act. this bipartisan bill aims to improve our efforts to deter terrorists and criminal abuses of financial technology, including crypto currencies through its support of interagencies coordination and collaboration with private institutions and citizens.

the measure created will give the u.s.a. better understanding of how bad actors, including terrorists, use crypto terrorists to evade and lauppeder money. these state and nonstate actors are looking for new ways to get around our protective and investigative measures and this bill will stay one step ahead. so, again, my sincere gratitude and thanks to congressman budd and lynch for re-introducing this bill, which was passed by this body in the last congress. and i would like to again follow up on statements that were made by the ranking member, mr. mchenry, to remind everyone that the first three bills of this congress that have been introduced by the financial services committee are

bipartisan bills. we have shown that not only are we willing to provide leadership and send a message to all of the members of congress that we have o work hard to try and get good, viable, strong legislation through this congress, working together in ways that we have not done before. i'm very pleased and proud to stand here as the chairperson of the financial services committee, helping to make sure that the first three bills that we introduced are bipartisan and urging my support for these bills and this bill and now that is before you. and i yield back the balance of my time. the speaker pro tempore: the gentlewoman yields back. the question is, will the house suspend the rules and pass the bill h.r. 56 as amended. those in favor say aye.

those opposed, no. . in the opinion of the chair, 2/3 being in the affirmative, the rules are suspended, the bill is passed and without objection, the motion to reconsider is laid on the table. the clerk lays before the house the following message. the clerk: to the congress of the united states, pursuant to the international emergency conomic powers act, 508 u.s.c. 501, i have issued an executive order. take additional steps to the national emergency declared in executive order 13692 of march 8 of 2015 and relied upon for additional steps taken in executive order 13808 of august 4, 2017, executive order 13827

and executive order 113835 of march 21, 2018 and executive order 138150 of november 1, 2015. the executive order accounts for the swearing in of a legitimate interim president of venezuela and addresses actions to the maduro regime and human rights violations and abuses to the esponse to the anti-maduro protest. and curtailment of press freedom, harassment of political opponents and continued attempts and undermine the the national assembly. the executive order amends subsection d of 13692, subsection d of executive order, subsection d of section 3 of

executive order of 13827, sectionon d of 1385 and 6 of executive order 13850 to read, d, the term government of venezuela includes the state and government of venezuela and political subdivision, agency or instrument atlanta thereof including the central bank of venezuela,. any person opened or controlled controlled directly or indirectly the foregoing and any person who has acted directly or indirectly for or behalf of the foregoing including as a member of the maduro regime and i have issued signed donald trump, the white house, signed january 25,

2019. the speaker pro tempore: pevered to the -- referred to the committee on foreign affairs and ordered printed. pursuant to clause 12-a, rule 1, the chair declares twelltwell on the bill later this week, increasing federal pay for certain employees. americas continue off the floor to reach a deal on homeland security and border protection and funding the federal government beyond the february 15 deadline. we'll have live house coverage when they're back in about 20 minutes. ahead this week on capitol hill, tomorrow c.i.a. director, national intelligence director and f.b.i. director testify to

the senate intelligence committee on threats to the u.s. that's live tomorrow at 9:30 eastern on c-span3, online at c-span.org and on the free c-span radio app. >> this week on the communicators, consumer technology association president, gary schapiro, on the major issues facing the $398 billion technology industry in the u.s. >> because i also see where the future is going with technology. we know robotics will be here. artificial intelligence, drones, self-driving cars. individual oriented medical treatments, certainly biotech in a way we've never experienced before. block chain technology. all these are coming. so how do you succeed as a ninja, as someone who is flexible, knowing that part of the future is not clear, but part of it is totally clear? how do you benefit from that, where you're in government, a business or an individual? >> join us tonight at 8:00 astern on c-span2.

>> the c-span bus recently traveled to tennessee, asking folks, what does it mean to be american? >> for me, being an american is being able to break the status quo. to know that i have the ability to not be a conformist to one ideal and form my own preponderaten -- opinions and beliefs on something i feel and challenge the controversial. i've had letters fromal salvador, iran, japan, from all over the country from all over the world. coming here to america for a chance at freedom. and to me, being an american means creating a welcoming community for people of all backgrounds. >> being an american is all

about freedom. it's freedom on where you attend worship on sunday morning, it's freedom in who you marry and where you have children. it's freedom in what you choose to do for -- what your career is going to be and what your strengths are going to be. it's freedom in how you choose to treat your neighbors. it's freedom in how you want to plug into the world, into the country, and make a difference. but i'm so thankful for those that came before us and fought for this wonderful freedom and that's what this country is all about and i'm proud to be rtpa -- to be part of it. >> being an american is based on you, the ability to express your own natural rights. not going by what's promoted in social media. being able to express you what want to express, being able to eat you what want to eat. being an american is basically having the equality to promote yourself. success rather than negativity that's going around. >> to me being an american means i have the ability, rights and freedom to live the life i want to live without regret or second guessing.

>> what it means to me to be an american is basically the free flow of ideas. the debate of ideas. that we can all have differing opinions, so we all come to and decide what is best for america. so that debate, that discussion of free-flowing ideas and the creativity that comes with that , it manifests and establish our laws, it's what makes us the greatest nation on earth. >> voices from the road on c-span. each week, we take a lok at how your money is at work in the government. we are focusing on tax policy, specifically progressive tax proposals. our guest is the economics editor at bloomberg, peter coy.

when is the last time a freshman member of congress got a cover story about tax proposals in your magazine? the magazine has been going since 1929. i think this is the first. it was a history making event for us. host: did you decide to do it this time? guest: i don't make the decisions, the editor of the magazine said there was a lot of buzz. you always worry that a weekly magazine, that we will miss the wave or be late to a story. the wave wasl like about to break. there was more room to build so we would not be late. there is more interest and her now than there was one we did our cover. host: describe what her tax plan is? guest: she does not have a

worked out tax plan. she's not introducing legislation or something like that. she expressed on 60 minutes the idea that top marginal rates could be much higher than they are now. the context was she was talking about her green new deal idea. how she cooper asked would pay for it. archie you going to have to raise taxes? need to payple their fair share. in the past we had taxes as high as 70%. that became the number, especially the 70% number. that became injected into the national conversation. host: how much of this conversation was happening before she came to congress with

the presidential campaign of bernie sanders? was in theie sanders same direction. insane against the rich they are not paying their fair share. if you look at what he was had no hillary clinton increase in the top marginal rate in her plan. 52%, well shy had of the 70% that aoc casually mentioned. this is the term we use, shifting the overton window. that is the range of acceptable things that are acceptable to talk about because of the plausibility. number, we out the shifted the overton window to the left. plan she talked about this

was on late-night television recently. this is an interview with the freshman congressman. >> when we talk about the marginal tax rate, it's not your income. and on your 10 millionth one dollar. after you make $10 million in one year, your dollars after that start to get progressively taxed at a higher rate. ofs the tax interpretation one answer to the question of how much -- what level are we in excess?ng what kind of society do we want to live in? city,want to live in a for example, where billionaires have their own of personal helipads?

>> good to know. >> do we want these people with helipads in the same city and the same society as people who are working 80 hour weeks and can't be their kids. >> this was the norm up until the early 80's. say she is a socialist. dwightepublican eisenhower, we had a 90% marginal tax rate. this segment of the washington journal, it's the weekly your money segment. democrats, (202) 748-8000. republicans (202) 784-8001. , (202) 748-8002. take us through some of the reactions to that proposal, some

of the pros and cons that have been put out there since she's been talking about the 70% rate. guess that people who like low taxes like grover norquist, he goes back to the reagan administration and came up with the taxpayer pledge that says i will not raise taxes at all ever in my life. a lot of republicans of taken that pledge. it's a frontal assault on the mission he has successfully prosecuted for 30 years. i talked to him. all she's going to do is destroy the democrats chances of winning in the next election. i don't know if that's really true. i'm not taking sides on the

issue, looking at the polling data, there is a lot of support for higher tax rates for the rich. if you take literally what she is saying, the 70% rate would not kick in until you've made $10 million, that's a small percentage of the electorate. no, it wouldvoted be a drop in the ocean. the only way to defeat a proposal like that is to vote against it because they think it's unfair or it's bad for the overall economy. host: can you explain the modern monetary theory? guest: it's the idea in a nutshell that if you owe money in your currency, the u.s. borrows money by issuing treasury bonds in dollars, as

long as you do that, you can never go broke. you can never default. you can always pay interest by making new money. any government has the power to make money in its own currency. the only reason ever to worry about deficits or high government spending is it would cause inflation. an inflatione of problem, the government can afford to spend more. that's the argument. there are some big advocates. economists who believe in this. aoc subscribes to their views. ends up being mostly liberal democrats who believe in modern monetary theory.

it's thatheadline, nightmare of the right, new taxes. she is just getting started. peter coy is one of the authors of the story. we are taking your calls. darlene is in henderson, nevada. caller: thank you for taking my call. pay towardor people income tax. the outcome from the income taxes are basically nothing. there is no oversight for public schools and our children are not making it. if we are paying taxes, the benefit to how we utilize the prison. why can't we have more health care? moret think we need to do

as citizens of america. thank you. host: is the solution in your mind more taxes? higher taxes? is it better use of the taxes we have not? caller: it's getting more taxes from people like air current president. that we have a better use for those taxes. we need to have accountability. it doesn't matter if it's health i got a mastectomy. i got no treatment. then they dropped my insurance. where's the fairness in all of this? people, i lost my mytion eight housing because landlord would not approve my aid. we don't have oversight anymore. host: thank you for sharing your

story. would you like to jump in? it's a tough story. in myteresting thing article, this is not directly would thethat, why united states ever raise taxes on the rich? if you believe in modern monetary theory, we don't need to pay forxes spending. cooperwer to anderson kind of didn't really fit with her own theory. what she could have said when she was on the air, she could've said we don't need to raise taxes to pay for the green new deal. i want to raise taxes anyway because i think the rich are living too well and we should

take that money and redistribute it to the poor. she could have said that. what have gotten more response. host: the chart that is in your story on the top marginal tax for money sure your with it. walk us through this chart. point she obvious made when she was on that late-night spot, 70% is not historically a high number. the 90's ingh as the 50's and 60's. was that a good rate? oft's a topic of a lot debate. one thing that does happen when you put rates that high, you get a lot of tax sheltering. they will get very creative about ways to put money into vehicles that are not taxed as

highly. a second question, does it discourage economic activity? you might be less willing to start a business if you thought 90% of the money above a threshold would be taken from you. you might not want to go for an advanced degree that was costly and time-consuming if you thought a lot of the money made would go to taxes. these are open questions. said despite the logical theory that it should discourage economic activity, there is not evidence that it did. only 50'sy grew well and 60's with high tax rates. host: larry is in indiana. good morning. caller: i want to talk about her.

before she got elected to congress, she was a bartender. i can't imagine the stories that went on in that bar talking about economics. she majored in economics. progressive professors. that's the only thing she is spewing. eisenhower's had tax write-offs to bring it down. can't imagine the constituents that elected her. we will let you respond. we will show the front page of the bloomberg businessweek. the collar is correct that very few people actually paid those high marginal rates. shelters, there are

ways to knock down that rate. i was talking about creative accounting. thosef with those shelters, they are higher than they are now. there is not strong evidence are bad or rates good or the low rates are bad or good. frustrating that such an important question after all of these years hasn't been fully resolved. is not a hard science like chemistry. host: glenda is in texas. good morning. caller: i want to talk about our taxes. 10% to would put everybody in the whole united states, it would solve all the problems.

if it was a trash collector and , he would be happy to do that. if it's bill gates making billions, he would be happy to pay his 10%. there should not be any tax shelters and everybody should pay. ill be taken in the [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2019] h.r. 624 and h.r. 502, both by the yeas and nays and agreeing to the speaker's approval of the journal if ordered. the first vote will be conducted as a 15-minute vote. pursuant to clause 9, rule 20, remaining electronic votes will be conducted as five-minute votes. pursuant to clause 8 of rule the

unfinished business is the vote on the motion of the the gentleman from from connecticut, mr. himes, to suspend the rules and pass h.r. 624 on yeas and nays are ordered. the clerk will report the title. the clerk: a bill to require the securities and exchange mmission to carry a study of 10-b-5 and for other purposes. the speaker pro tempore: will the house suspend the rules and pass the bill. members will record their votes by electronic device. this is 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.]