senator chuck grassley, thank you for joining us. we will follow the story.eciate you sharing your position with us here on "bloomberg west." coming up, how is the affordable care act changing the netscape for digital startups? we will talk to one in investor about the future of biotech and digital health and whether we are entering a bio health bubble. ♪ >> welcome back to "bloomberg west." i am emily chang. the affordable care act has created unprecedented incentives for investors to jump into digital help. funding for new companies has last year, since $700 million in the last quarter alone. dr. beth seidenberg has been -- life life sir it sciences company for a decade. she has been a ceo two times over. she joins us in the studio right now. thank you so much for joining us on "bloomberg west." it is such an interesting career to ceo. dr. to investor how does that happen? >> it happens by keeping your eyes open and taking whatever opportunity is in front of year. the hiv crisis and trying to make a difference for people suffering from aids. i did the first

in which case senator grassley could be your counterpart.here was a flap recently in his home state about someone saying he did not have a legal background. the first non-lawyer to be the chairman of the judiciary committee. you are a lawyer. i wonder if you could just share your opinion on whether you think it is necessary to be a lawyer to chair the judiciary committee? traditionve the same and the house. we have great members of the committee who are very strong contributing members that are not attorneys. i think it is up to the sent it to determine who should serve. in the meantime, senator grassley is the one i had great respect for an enemy with them on a regular basis to discuss what we are doing in the house to get his assistance on inislation that is piling up the united states senate. there are now more than 200 bills would have passed the house that have not been acted upon in the senate. many of those are judiciary committee bills. i know from my conversations with him that he shares my interest in many of the issues we deal wit

chuck grassley started it and then liz cheney was the one who pumped it up to 11. liz cheney in 2009 founded a group called keep america safe. that group ran these ads attacking lawyers who are argued in the cases about guantanamo, attacking the lawyers as if they themselves were terrorists for having taken part in those cases. literally they called the lawyers the al qaeda seven as if the lawyers themselves were in al qaeda by virtue of the fact they made legal arguments in cases that related to terrorism. look at this. at one point they flashed this headline from something called investors business daily. doj department of jihad? it's not the department of justice anymore, it's the department of jihad. yeah. now, the right wing press was eager to help out ms. cheney in this. called the lawyers terrorist sympathizers. when cheney's group asked who are the al qaeda seven, the fox news channel jumped to come up with the answer. they dug up what they said were the names of these lawyers who had done the scandalous work on these detainee cases. right wing blogs ran wi

that is where i go. >> senator chuck grassley, thank you for joining us.ll continue to follow this story. thank you for sharing your position. how is the affordable care act changing the landscape for digital health startups? we will talk to one investor who has been investing in life science companies were nearly a decade. are we entering a biotech bubble? that is next. ♪ >> welcome back to "bloomberg west." i'm emily chang. the aca has created incentives for companies. funding has shot up 87% this last year. $700 million in the last quarter. kleiner perkins general partner has invested in life science companies for nearly a decade. she has been a ceo two times over. she is a physician by training. she joins us in the studio. thank you for joining us dr. you have such an interesting career are from physician to ceo to investor. how did that happen? >> it happens by keeping your eyes open and being ready for whatever opportunity is in front of you. it started out with the hiv crisis. trying to make a difference for people who were suffering. i did the firs

[laughter] >> thank you senator grassley.

[laughter] >> thank you senator grassley. >> senator grassley was a no. [roll call] [roll call] [roll call] the clerk will report is the results of the vote. >> mr. chairman the final tally is six ayes -- eight nose. >> mrs. amendment number two and would simply do it's a minor amendment would add my chair membership to transportation benefits. as you know the code allows employers to provide compensation for transportation costs for their employees on a tax-free basis. they include taxes who see it with parking en masse transit and since 2008 associated with storage at the employee regularly bikes to work however last summer at the irs move to costs associated with memberships were not eligible as part of the draft and indicated legislative action is necessary to broaden the definition even though they had accepted that definition for previous years. all the men would do is just that. it would send the 20 dollar amendment available to bike owners for those participating in a bike share program. many employers across the country could offer a tax is a ben

committee, pleasantly enough, grassley and hatch voted for it. the fact that grassley is the ranking member of the judiciary committee helps. we will get a few more republicans, but we have 60 votes, and we are making an effort -- lamarr talks enter and i are trying to put bipartisan bills of significance on the floor that will actually pass. i have spoken to harry reid about four time, which is precious, and he seems very sympathetic. i think we will get up bill on the floor and pass it. >> in reporting for column on -- subject like years lester, i was surprised to see that there are conservatives that support this. somebody like ted poe who may agree with you in one out of 10,000 issues, a house sponsor of the bill which at that point was more liberal than yours. so who is against it? the mostole -- republicans are against it. they do not want any exception to national security. present law is if the government says it is national security, a journalist has to testify. what people mistake is there's no first amendment right for gathering inform

we have also discussed this with senator grassley earlier. and it will be collected and we are on track to have this available because it is helpful to consumers to make a choice and it's also helpful to look at what providers are actually collecting. we would love to work with you going forward on what other data that and the determination initially about the 10 or more procedures with a sometimes collecting one at a time is a scattershot look at a scenario and doesn't give you comprehensive data. we want them to know if you can go under the knife on the we want to know who does the most hip replacements, knee replacements, who is the most familiar with that. so it's great consumer empowerment at all though information that we think should be transparent. >> and the value-based modifier? >> again, that is part of the initiatives going forward. certainly one of the looks that the medicare team is making with how you can allocate adjustments to payments based upon this series of criteria and what the outcomes are. we are testing a lot of diffe

they want to hear more from chuck grassley and less from al franken, who expresses reservations. we will hear from him in a moment, i spoke to him myself. >> we are looking forward to the answer that question. how does this make and sell something other than political theater? congress cannot do anything to stop this from going forward. that is for the antitrust regulators at the justice department. >> ultimately it is only the justice department and the fcc that will determine if this is within the public's interest. those two agencies will decide --s, but the doj and the sec they want to see how lawmakers aren't handling this, the lawmakers will get a very good sense as to how big a fight that comcast has on its hands. and what are the conditions at the regulators will see on this deal going forward. this could be so onerous that these companies walk away. that is the question and many people think at the end of the day, if they get the approval, could they attack conditions that make it unpalatable to comcast to move forward. >> peter, thank you very much. chief washing corres

. >> iowa senator charles grassley fired off a letter to the can u.s. customs service.llegal network for use by scret iranian agencies. in a report released in late december the department was highly critical of the eb 5 operation. only growing with a record 7,000 7,000 applications now pending. of course immigration reform would have implications for millions of people wanting to live and work in the united states. dennis hoffman says it could loosen restrictions on the workforce and be good for business and that in turn would promote economic growth here in arizona and here in the rest of the country. dennis kelly, good to have you here, thank you so much. >> great to have you here great for being in phoenix. >> it is an epicenter of discussion around immigration reform. means different things to different people. >> it does. i'm an arizonan, it's a very big deal to me, to arizona. i've seen what low skilled, medium skilled, high skilled immigrants can do to the economy. arizona was certainly the beneficiary of a tremendous injection of labor over the years which righ

i know senator grassley is going to go and vote. if you notice that there aren't many people left here, it's because people are coming in and voting. it's not like they've left for the day. i want to start with you, mr. co h -- cohen. you talked about some of the benefits you saw coming from the merger. would those not happen with the merger? >> i think the answer is that those things are going to happen faster and with more certainty than they would occur in the event there was not a merger. and i was really talking about the immediate consumer benefits. the reason those benefits have not occurred in the time warner cable footprint is because the difference of scale between comcast and at time warner cable, and it's the scale that leads to the investment, that leads to the rapid deployment of those benefits. and when we move beyond the immediate, and when we look at our competitors and what they are investing and the innovation that they are rolling out, we believe going forward in the future, and in the absence of comparable scale

>> we are going to be talking to senator chuck grassley on this. more to come on this. goldman sachs considering shutting down its start will. -- its dark pool. >> what is a dark wool? -- pool? >> it is a private exchange. >> it is a marketplace. it is were people can buy and sell shares under the cover of darkness. the whole point of a dark pool toto allow investors transact in large blocks of stock. and today possible market it is much more difficult to go out and buy in volume without showing your hand. >> what is the back story? there is always a back story with goldman sachs. >> yes, indeed. i will not know the whole back story for another five years. >> is this about michael lewis? >> what michael lewis was talking about are some of the x.ues including sigma there are more than 40 places where institutional investors can buy and sell stocks. to have aifficult technological or informational advantage. it is not the popular of a business for goldman sachs any longer. >> i love the name. those are our front page stories. >> our guest host is holly alima croft. it is

and here's what he said about chuck grassley. >> you might have a farmer from iowa who never went to law school, never practiced law serving as the next chair of the senate judiciary committee. >> well, i think he apologized for that comment. and most people move on. and here's why i think it's going to be enough because he actually has a long history of fighting for iowa farmers and fighting for iowans versus either of the two republican candidates. remember, these elections are contrast. and anyone that thought iowa wasn't going to be competitive doesn't know the state of iowa. whomever he's up against opposes the farm bill, opposes -- or supports the ryan budget which cuts funding for agriculture and rural communities. whereas he's been in support of those things. i think he'll do fine with that -- >> iowa is one of the top three agricultural states. when you start insulting farmers -- >> this is sort of an inside washington analogy. but this is like martha coakley insulting red sox fans not knowing who kurt schilling was. i think your point, going to iowa, insulting farmers. and

senator grassley. >> [inaudible] go ahead. >> senator roberts. >> senator roberts thanking senator grassley. mr. koskinen when you visited with me last year prior to your confirmation, sir, you thought it was your role to clean up the irs and get agency back on track with regard to the processings of applications and implementation of the affordable care act both monumental tasks indeed. you said that your longer term goal however was to restore the irs reputation and integrity on these and other functions. i have some confidence since you're going to be able to do that. however, prior to your confirmation you said that the irs was targeting certain groups during the exemption application process, thereby trampling on their first amendment rights. seems to mae that there is a common sense step that you need to take. and you should take it today. stop all action on the proposed 501(c)(4) regular layings until the house ways and means committee, this committee, everyone, knows what went on, who was involved, what the implication of the all of this is and how we can address the issues raised a

charles grassley fired out a letter to the department of homeland security. his concern, terrorists. citing internal immigration memo, two eb-5 participants were, quote, involved in an illegal procurement network exports items to iran for use by secret iranian government agencies. homeland security offered no public response, but in a report released in december the department was highly critical of the eb- 5 program's operation. but despite the risk it's only growing with 700,000 applications pending. immigration reform would have implications for millions of people who want to live and work in the united states. dennis hoffman said the benefits of that reform would far outstrip the costs. he said it could loosen restrictions on the workforce and be good for business and promote economic growth here in arizona and elsewhere in the country. dennis is a professor of economics at arizona state university. good to have you here. thank you so much. >> great to be here, and thank you for coming to phoenix. >> it is the epicenter of this discussion around immigrati

grassley the president commitment to. >> did he tell you that specifically? >> something about ethanol. [laughter] >> ethanol and for producers were the two top things. we have an important commitment and could i yield, i would be more than happy to do so. so i hope you will recognize me later. >> and my five minutes start over again? [laughter] >> okay. >> the two things i would like to discuss with you is one of sunshine and the other is an obscure part of obamacare and i welcome you and i'm glad to have you here because i wish we could see you more often. yesterday the department again process of releasing medicare payment data and this is something that the chairman has spoken about. something that we have been working on for years. no one should be afraid of this data coming out and no one should be afraid of explaining the existing payment structure. the benefit of asking this as we consider the policy changes as needed i believe trent currency works and with us you have accountability and i hope people will now at that work to improve this is some inst

and braillely recently came under fire after a video showed him denigrating chuck grassley because he'sa lowly iowa farmer. but the icing on the proverbial cake is a new online video released by bob quast, the independent, you've got to see to the believe it. >> hi, i'm bob. i am running. running for iowa's open seat in the senate. term limits need to become the 28th amendment to our u.s. constitution. i believe in every aspects of our constitution which even a baby knows includes the second amendment. if you are the sexual predator and sociopath who murdered my sister you come to my door to do harm to my girls i'm going to use my glock. to blow your balls off. now please do not confuse me with iowa's republican candidate for u.s. senate. i'm bob quast, just a simple problem-solver from iowa who never went to law school but i did create and approve this video. >> what do you make of that. that's "hardball." coming up next, your business with jj ramberg. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i w

i know senator grassley is going to go and vote. if you notice that there aren't many people left here, it's because people are coming in and voting. it's not like they've left for the day. i want to start with you, mr. co h -- cohen. you talked about some of the benefits you saw coming from the merger. would those not happen with the merger? >> i think the answer is that those things are going to happen faster and with more certainty than they would occur in the event there was not a merger. and i was really talking about the immediate consumer benefits. the reason those benefits have not occurred in the time warner cable footprint is because the difference of scale between comcast and at time warner cable, and it's the scale that leads to the investment, that leads to the rapid deployment of those benefits. and when we move beyond the immediate, and when we look at our competitors and what they are investing and the innovation that they are rolling out, we believe going forward in the future, and in the absence of comparable scale

grassley: mr. president, i'm glad to yield. i think that's very basic economics. you increase supply, you reduce price. and the other matter is, though, it makes us more energy independent, because we send hundreds of millions of dollars every day to import oil, and there's no sense of doing that when you can get it right here in north america. mr. sessions: well, i thank you. and, senator hoeven, thank you for your steadfast, consistent, principled leadership on this important issue. you've been there consistently. i don't think there's anybody in this body that understands the details of this issue more than you. and it's just a positive thing for america. it just is. and i just want to thank you for that effort. we've gone now reviewing this for five years. five years of review. and not just -- i want to say that legally, as i see this situation, it's this. there's no federal law at this time dealing with this issue. presidents have issued executive orders that created a mechanism that allowed the state department to give a review of it, but clearly there is no

republicans including senator john thune of south dakota and senator grassley, they said we would note for the amendment and some republicans did vote for it. they lined up generally for where you don't have a lot of wind power. have gotten of it more difficult for the wind industry over the last couple of years. because ofel, it's the size of the growth of this industry. when the wind and the tree was very small, the tax credit did not cost the federal government very much. as the industry has grown, the credit has become more and more expensive and more controversial. you could say it's a victim of its own success. it's spending the credit for it decade and that would cost about $13 billion. at the same time, you have had a hardening of political lines on green energy over the last several years. the federal loan guarantee or a -- program became quite controversial and republicans became critical of it when the solar company solyndra collapsed. you have two headwinds working against the credit. the industry has grown and you have had this hardening of political lines ran green energ

grassley: mr. president? the presiding officer: the senator from iowa. mr. grassley: 25 years ago today the whistle-blower protection act was signed into law. i want to come to the floor to discuss some of the history that led to that legislation. the lessons learned over the past 25 years and the work that still needs to be done to protect whbles. -- whistle-blowers. and i emphasize that last part because there still needs to be at that lost work done. the whistle-blower protection act was the result of years of effort to protect federal employees from retaliation. 11 years before it became flaw 1989, congress tried to protect whistle-blowers as part of the civil service reform act of 1978. i was then in the house of representatives. there i met a person named ernie fitzgerald who had blown the whistle on the lockheed c-5 aircraft program going $2.3 billion over budget. ernie was fired by the air force for doing that, and as he used to say, he was fired for the act of committing truth. when the nixon tapes became public after watergate, they revealed that p

lease help me welcome chuck grassley. [applause] thank you for being with us tonight. keep tonight will moving right along. we have a lot of candidates we want you to me. we want to make sure we have plenty of time for our honored guests, and congressman paul ryan. i'm going to set an example and keep my remarks under two minutes. at the same time, i'm going to introduce the mc. introduction of my you will appreciate where we are going. it is a great time to be a republican. a great time to be a conservative. , remember something republicans run on issues, republicans win. that is what we intend to do. they are built on a solid foundation and tried-and-true over the last 30 years. experiences in office was serving ron corbett. legislationed solid in the mid-to-late 1990's. one of those pieces of legislation's was a 10% across the board cut in the income tax rate in iowa. if you have been to visit your cpa, you're paying less in income taxes because of the leadership of speaker ron corbett. it is only fitting he should be our mc tonight. here is the lesson. billpaulson

but then he was caught on video insulting iowa farmers and chuck grassley. >> you might have a farmer law serving as a next chair of the senate judiciary committee. >> what did you learn from that episode? >> well, i learned what i've known for a long time. and that is people say things they regret. and the important thing is to accept responsibility for it, which i did. >> and do you think that somebody who doesn't have a law degree is qualified to lead the judiciary committee? >> yes, i do. senator grassley through his long work and hard work has earned the right, but it's no different than asking a group of farmers whether they think a lawyer would be more qualified to chair the senate agriculture committee. it was not intended in any way to be disparaging to senator grassley or to farmers. >> iowa is considered a swing state, but president obama carried it twice and polls show braley is still the favorite to win. he defend the health care law. and unlike many other democrats running for senate, he says he'd be happy to host president obama. >> well, the president is very busy. and

senator grassley? >> go ahead. >> senator roberts? >> thank you, senator grassley. when you talk to me last year prior to your confirmation, you told me that you thought was your role to queen of the irs and get the agency back on track and regards to the processing of these applications in and the implementation of the portable health care act. both monumental tasks indeed. use of your longer-term goal, however, was raised more the integrity on these and other things as well. i have confidence that you will be able to do that. however, prior to your confirmation needs that the irs was targeting certain groups during the application process thereby trampling on the first amendment rights. it seems to me there's a commonsense attitude that you need to take and you should take it today. stop all action on the proposed regulations so the house ways and means committee knows what goes on in what the amplification of all this is and how we can address the issues raised and hold people accountable. that is why i have joined with the senator from arizona, offering legislat

senator grassley. >> obviously i think you and senator hatch were working so hard to put this together and i'm glad we are considering a two-year extension of these provisions instead of the usual one year although last time i guess it was two years. i'm hopeful that this will provide a window of opportunity albeit small to taxpayers while allowing us to continue our work towards tax reform. the annual stop and start picture of tax extenders creates uncertainty were taxpayers of all stripes and often results in complications come filing season when tax forms are not ready and refunds delayed. it causes headaches for teachers purchasing school supplies, college students paying for higher education and seniors making sure to pull deductions from their i.r.a.. further creates uncertainty for businesses which harms investment and business growth and consequently not getting more people employed. the uncertainty it creates for their noble industry has slowed growth in this sector and serves only to hamper the strides made towards a viable self sustainable renewable energy and fuels sector.

so senators grassley, lee, vitter, enzi, boozman and hatch are cosponsors of this amendment. and look, we know what's being said out there. we are being told that americans want work, they are out looking for jobs and that businesses can't hire them. the bloomberg study of the everify system, how it's been implemented, would indicate quite different. but let me just share a few things here. syracuse.com had this report on january 8 of this year -- quote -- "in syracuse, new york, thousands showed up for the destiny u.s.a. job fair on june june 14, 2012. more than 50 employers interviewed candidates for roughly 1,600 jobs. on january 29, a fox affiliate in atlanta reported northside hospital held a job fair wednesday but had to call it off early due to overwhelming number of people that showed up looking for work. the hospital was hoping to fill 500 jobs. on may 17, 2013, news outlets in philadelphia reported more than 3,700 job seekers overwhelmed municipal services building in center city for a job fair friday morning intended for ex-offenders. we need to help ex-offenders f

with the goal of reducing the over prescription a psychotropic medication i want to thank senator grassley and other members of this committee to express interest in this area and i look forward to working with the committee to address this need. the budget strengthens and expands certain initiatives with strategic objects -- adjustments of the home visitation and early headstart partnerships. the total child care request will enable an additional 1.4 million children to receive assistance. if you move forward with the president growth and security initiatives we can provide an additional one to thousand children access to high-quality early childhood education through early headstart partnerships. we know these investments were can pay dividends throat education and development and proven to return an estimated $7 for every $1 reinvest. i would say there are a lot of traders on wall street that would be envious of that kind of return. in addition to a profound and a lasting impact on children these investments would also save lives because much of the partnership with states is paid for b

that those kinds of decisions have consequences and all we have done this exercise what senator grassley pointed out the right dissenters have under the rules of the senate. if the majority leader doesn't like it, i recommend that he changes into her and we don't have a rule problem but a behavior problem. and we have had a couple of examples of trying to edge back this year where we brought up the bill and amendments were actually processed from both sides. but it seems of late that we are back into the old senate and we are just about scoring partisan points denying them the opportunity to offer amendments and i think most of our members on both sides of the aisle have involved having their committee work taken seriously in the opportunity to offer amendments to be taken seriously. this body operating the way it should under the majorities of both parties has been a more civil place in which the rights were respected. so the ranking member of the judiciary committee, the senator from iowa was we exercise our rights under the rules of the senate. >> thank you spent the majority leader?

then in committee, pleasantly enough, grassley and hatch voted for it. the fact that grassley is the ranking member of the judiciary committee helps. we will get a few more republicans, but we have 60 votes, and we are making an effort -- lamar alexander and i are trying to put bipartisan bills of significance on the floor that will actually pass. i have spoken to harry reid about, and he seems very sympathetic. i think we will get up bill on the floor and pass it. >> in reporting for column on the subject -- i was surprised to see that there are conservatives that support this. somebody like ted poe who may agree with you in one out of 10,000 issues, a house sponsor of the bill which at that point was more liberal than yours. so who is against it? >> the whole -- the most republicans are against it. they do not want any exception to national security. present law is if the government says it is national security, a journalist has to testify. what people mistake is there's no first amendment right for gathering information. there is a first amendment rig

as i've said, we responded to senator grassley.just so that people understand that we're making appropriate use of d.o.j. aircraft. a lot of the stuff is described as mission. and nonmission in the way in which that was defined was not correct. a non mission trip, for instance, the trip i took to newtown was described as a non mission trip. i don't see how anything could be more mission centered than having the attorney general of the united states deal with first responders at newtown. so i got it off my chest. >> you got it off your chest. so you will be ensuring that all flights will be reported? >> will do that, yes. >> on february 24th you asked congress to create a strong national standard for quickly alerting consumers whose information may be under threat. what specific registrations do the administration and department of justice propose? >> i think first with regard to reporting breaches, that we should have a uniform standard so businesses understand when they have an obligation to report to the protoauthorities when the

grassley: thank you. it's a national security issue. it's sending messages around the world that we are not going to be dependent upon the rest of the world for our energy, and it's all those things and probably a lot more, and i thank the senator from north dakota for putting this afternoon together but over a long period of time being a spokesman for the keystone x.l. pipeline, not only here in the senate but i have seen you on sunday news shows speaking to the entire nation about the value of the keystone x.l. pipeline. so i think today we're saying enough is enough. we're saying it's time to end the unjustified and now we know political delay of the construction of the keystone x.l. pipeline. i'm glad so many of my colleagues are coming to the floor today to call for the approval of this project. the transcanada corporation applied for a presidential permit from the u.s. department of state to construct and operate the keystone x.l. pipeline way back september, 2008. and here we are yet talking about it. for nearly six years, this a

to a gathering of trial lawyers in texas, he made the contrast between iowa's gop senator chuck grassleyote farmer who never went to law school and himself. >> someone who has been literally fighting tort reform for 30 years in a visible and public way. >> the remark is sparking a broader discussion about the influence of trial lawyers in the current political environment. according to the center for responsive politics, in 2014, 97% of political contributions from the nation's leading trial lawyers association went to democrats. >> the reason you see the money flowing to the democrats, not just from trial lawyers but from anybody who thinks progressively in the country is the gop has become utterly dysfunctional. >> but critics say it's about much more. blocking efforts to tort reform, something supporters say would discourage frivolous lawsuits and oversized verdicts. >> if you walk down the street and ask most people, is our legal system out of wack, and do people have a jackpot justice mentality that they can really hit the jackpot if they file a lawsuit, i think most people will say

and all we deniers exercise what senator grassley pointed out, the rights that senators have under the rules of the senate. if the majority leader doesn't like the way the senate is working i would recommend he change his behavior. we don't have a rules problem. we have a behavior problem. i hope we can get -- with a couple of examples of trying to edge back to normal here where we brought of the bill that was i to open for amendments. amendments were process from members of both sides but it seems of late where sort of back into the old senate. all we are about is just scoring partisan points, to nine members the opportunity to offer amendments. i think most members on both sides of the aisle came here to be senators which involves having your committee work tickets as they come having the opportunity to offer a minute taken seriously. this body when he was at its peak operating the way it should under members majority's of both parties has been a more civil place in which rights were respected. so the ranking member of the judiciary is born and we're simply exercising our rights unde

. >> senator casey, senator grassley. >> i will go next. he cried to go ahead. >> senator roberts. >> thank you. when you visited with me last year, prior to your confirmation, you told me it was your role to clean up the irs and get the agency back on track. regards to the affordable care act. your long-term goal is to restore integrity. i have confidence you will be able to do that. however, prior to your confirmation, you said the irs was targeting certain groups during the application process. trampling on their first amendment rights. it seems there is a commonsense step you need to take. you should take it today. stop all action on the proposed 501(c) four regulations until knows what went on. is. the implication of this how we can address the issues raised and hold people accountable. that is why have joined with my colleagues to stop you from proceeding until we have answers. here is the deal. we have court of regulation title 26. the most important rules are issued as regulations. the treasury decisions are prescribed by the commis

if you remember senator chuck grassley came up and find the student visa program where we are loading individuals that come over on student visas. you know, we have to have the ice agents and dhs to get a hold of this and control of this. what is really perplexing in the first two years when he had the house, he had the senate and he was in the white house, why didn't the president do something about illegal immigration again? >> he gave that speech at. au that didn't go any place. regard also of whether he had the house and the senate he did nothing. we now have a serious issue. the system is painfully broken. you can't release all these criminals back into the united states and not expect a problem. >> you can cannot expect him to do anything now because of the hot political issue. >> you know what in the republicans could help, too. this is a law enforcement problem. >> it is a huge law enforcement problem. when you have the special interest groups on the left like la raza and louie guts the congressman from chicago they are putting the pressure on him not to do anything. >> anyway

republicans including senator john thune of south dakota and senator grassley, they said we would notote for the amendment and some republicans did vote for it. they lined up generally for where you don't have a lot of wind power. have gotten of it more difficult for the wind industry over the last couple of years. because ofel, it's the size of the growth of this industry. when the wind and the tree was very small, the tax credit did not cost the federal government very much. as the industry has grown, the credit has become more and more expensive and more controversial. you could say it's a victim of its own success. it's spending the credit for it decade and that would cost about $13 billion. at the same time, you have had a hardening of political lines on green energy over the last several years. the federal loan guarantee or a -- program became quite controversial and republicans became critical of it when the solar company solyndra collapsed. you have two headwinds working against the credit. the industry has grown and you have had this hardening of political lines ran green ene

operations across the country, and every senator and member of congress -- >> we spoke to senator grassleyterday of iowa, 80 years old, started in republican politics in 1959. there's a lot of old people in washington. will the new guard of washington have a different relationship with too big to fail banks? >> i think they'll have a different relationship. it's not the same relationship that it once was. there is now a real opportunity to run against wall street and be successful. and that is one of the real things you sense right now in the relationship with the financial sector. but i also think you got a different releaseship with business overall. there is an opportunity for both democrats and republicans to take on large business politically and be successful while they still try and bring the businesses to their home state. so there's a strange dynamic working here, but wall street in particular still feeling the pain from the financial crisis. >> let's talk about another elder statesmen of washington, d.c., alan greenspan, he wrote an exceptional smart note this morning for societe

imagine what chuck grassley would have done with his life if only he had a law degree.laughter] [applause] the question is this. at thiswhere we are moment in our history. in.now what we believe we know what made this country great. we know what we need to do to get back on track. we have to get the consensus and the majority in the country to do it. so, what do we do? how do we do this? how do we put this thing back together before it is too late? "ryan,"tell by my name i am an irish person. i get to go to this lunch with the prime minister. he goes by the tea shop -- ta oiseich. that is gaelic for prime minister. our brothers have done a lot for us in afghanistan and iraq. it is kind of one of those stories.rivate ryan" they won't let the whole family go. they drove them all down to go. going toest said "i am have a height of guinness in of guinness a pint in your name as though the three of us were together every day." every day this young man would go to the pub. he would have three guinnesses lined up. this is ireland by the way. he would drink them simultaneously.