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 th

mr. resolve -- rothfus of pennsylvania. the chair: pursuant to house resolution 507, the gentleman from pennsylvania and a member opposed will each control five minutes. the chair recognizes the gentleman from pennsylvania. mr. rothfus: thank you, mr. chairman. i yield myself such time as i may consume. i rise today to discuss the need to help communities impacted by natural disasters get back on their feet without facing unnecessary regulatory obstacles. families, businesses and all members of the community may face significant challenges when the roads, bridges, transit and other infrastructure they use on a daily basis are not acceptable and not repaired in a timely manner. we can all agree that we should do what we can to protect the environment from harm. however, we should carefully reconsider regulations currently in place that delay transportation infrastructure projects and remove or reform regulations that are inefficient, redundant or harmful. i would include the redundant and time consuming environmental reviews

mr. rothfus, on which further proceedings are postponed. the clerk wilerycleeth the america. the clerk: number 114-326 . fered by mr. rothfugs of mr. 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.] oo 115 and : the yeas are 313 the speaker pro tempore: the request is printed in part b of house report by the gentleman from california, mr. royce, on which further presentation were est poned and the ayes prevailed. he clerk will redeath. the chair: a recorded a vote has been recorded. a a sufficient number having arisen, a recorded vote is ordered. members will record their votes by electronic device. this will e 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 yeas are 18 and the nay

mr. rothfus: i thank my good friend from kentucky for leading on this important issue. mr. speaker, for many western pennsylvaniaians, home ownership is an aspect of realizing the american dream. owning an a home is an investment for these families and local communities. unfortunately, today, that dream is being threatened unnecessarily by the consumer financial protection bureau's qualified mortgage rule. the rule is a washington knows best approach to mortgages that is hampering access to home loans across this country and hurting potential home buyers and their communities. as with many complicated and one size fits all regulations, the rule has brought substantial unintended consequences. the standards have made it more difficult for consumers to get a mortgage and as a result, it has stalled much needed investment in distressed and recovering communities. a significant amount of borrowers now do not qualify on the rule's 43% debt to income ratio requirement. 22% of those who vowed to buy a home in 2010, one out of five borrowers would not have met this requirement. mr.

mr. rothfus of pennsylvania. the chair: is there objection? earing none, so ordered. he amendment stands adopted. pursuant to clause 6 of rule 18, proceedings will now resume on those amendments printed in part b of house report 114-325 on which further proceedings were postponed in the following order. mendment number 37 as modified by mrs. hartzler of missouri, amendment number 39 by mr. roony of florida, amendment number 41 by mr. desan yea of california. the chair will reduce to two minutes the 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 37 as modified printed in part b of house report 114-325 by the gentlewoman from missouri, mrs. hartzler, on which further proceedings were postponed and on which the noes prevailed by voice vote. the clerk will redesignate the amendment. the clerk: amendment number 37 fingerprint -- printed in part b of house report 114-325 as ass modified by mrs. hartzler of missouri. the chair: the recorded vote has been requested. those in supp

mr. rothfus. >> thank you for being with us today. i want to touch on the -- some of the folks have been talking about the corporate bond market. i want to ask you a question about that. has there been an analysis of the systemic risk that could result from a lack of liquidity in the corporate bond market due to regulatory initiatives? >> i don't think as phrase d tht way. obviously the four or five of us who report to this committee do that kind of assessment at least in terms of the volcker rule. >> as you know the chairman reached out to you at the beginning of the year for a status update on a number of initiatives designed to if ed e facilitate capital formation rather than focusing on politically divisive issues. the chairman asked for the status of s.e.c. efforts to modernize the rules governing transfer agents. this topic is of interest because the rules have not been updated. it is a rare occurrence when you have bipartisan support within the s.e.c. given that former commissioner gallagher and current commissioner aguilar's s

. --.sandlin from and keith rothfus from pennsylvania. welcome. if you could, mr. russell, we will go to each of you in the order. you are first. russell: thank you mr. chairman and members, this amendment is number 26 to the highway trust rotation bill. it is in an amendment to prohibit federal financial assistance for any project or maintain,o establish, or otherwise support streetcar service. it is not apply to existing contract. the intent of the bill is not to bash streetcars. it is to ensure that the resources are husbanded towards highways, bridges, and critical infrastructure. trolleys, our mass transit vehicles, often drawing electoral power from overhead structures. of --009 two 2014, the the department transferred to -- transportation awarded money to streetcar projects. they are highly impractical for my public transit standpoint. like a bus, unlike a train, the speed is constrained by the beat of the traffic around them. unlike a bus, they are bound on the tracks. if anything blocks the tracks such as a construction project or accident, the entire line