otherwise, this -- and klobuchar. otherwise, this exercise today and these two votes today is a waste of time. this vote will simply put many members of this body on record in support of a $2.4 billion tax increase. i would encourage those to want to reduce incentives and save taxpayers' money to work with senator thune and klobuchar and the rest of us on a responsible transition that has a chance of being enacted and, most importantly, signed by the president. i, therefore, urge my colleagues to oppose these two amendments. i've always said that ethanol shouldn't be singled out, that it ought to be talked about in the context of an overall energy policy. but one of the reasons it's been able to be separated from all the rest of the alternative energy, as well as from all the rest of our energy policies that we have for this country, is because there's a great deal of ignorance about ethanol, and you can tell that in this town when you hear a lot of people pronounce the word ethanol "eethanol." i'm going to use statem

. >> before i go to senator klobuchar, with a major problem to work out here. there are five those that are starting 11:05. i'm trying to get a mutual love and 10:00, which means you can another 15 minutes here. we have another panel. we have senator klobuchar, senator pryor has just what. now, you can decide what she wanted to. my recommendation would be that senator klobuchar, you ask your question because you've been here a while. senator pryor who sent committee all over this extremely important, but somebody has to sacrifice. what we need to do is let senator klobuchar ask your question quickly and give their testimony and not scramble to that is that except to vote [inaudible] >> is that acceptable? >> yet, ready to go. thank you very much, mr. chairman. this can create device, that we all know there is some line in the sand here. for me when you order books on a kindle and then i come up with recommendation of books similar to what you order, that's just signed. it's actually helpful and harmful. on the other hand, when you hear stories of companies that

unless senator klobuchar has any more questions? okay. and for the panel if you have a thing you want to say before we wrap up, we are pretty close on time anyway. of course the record will be open not only for individual members to submit questions free to answer for the record but of course if you want to submit additional material. >> mr. chairman, just briefly, thank you for having this hearing. it's important. one word of productivity which is this a trend dating back to the early 1980's and it's been unique in the post-world war two period. one possible explanation that needs further discussion is the productivity measure itself and the degree to which the inputs especially those that are in ports are seeping into the productivity data and skewing it slightly and some economists at of john and michael reindell who used to be the chief economist business week identified that that's worth exploring much more greatly. but i do think one thing that the recession revealed is that there were some structural impediments growing and factori

klobuchar for questions, if she has question. >> that's very kind of you. i would have if i'd had the time. >> very good. thank you. i do appreciate that. thank you, all of you, for being here for this important hearing, and thank you, chair, for having this thing. i think it's incredibly important. we are very focus obviously on air safety, but i think as the chairman knows, we have to always, always be very diligent with our rail system. it's so critical with goods in the flow of people across our nation, and an attack could cause not only high casualties but also severe disruption to interstate commerce. i appreciate hearing from you on this today. i have a question, first of all, i used to be a prosecutor, director pistol, so i'm very direct with local law enforcement. i know you discusses several of initiatives tsa has undertaken to streamline coordination with local enforcement. and could you expand on that and discuss some more in detail and to what extent is tsa not just direct local law-enforcement but also integrate their expertise into its own ov

we have senator klobuchar, senator pryor has just walked in. now, you can decide what you want to do. my recommendation would be that senator klobuchar, you ask your question, because you have been here awhile. senator pryor, whose subcommittee is all over this, is extremely important. but somebody has to sacrifice. what we need to do is let senator klobuchar asked a question, at it responded to quickly, we call the other panelists, let them give their testimony, and then we submit questions in writing and then all scrambled to the senate floor to vote on heavens knows what. is that acceptable? it is not to you, i understand. is that acceptable? >> ready to go. and thank you very much, mr. chairman. this issue can create divides, but we all know that there is some line in the sand here. for me, when you order books on the kindle and they come up with recommendations of books similar to what you ordered, that is fine, actually helpful and not harmful. on the other hand, when you hear stories of companies that compile what they call "sucker lists

we are pleased -- we were pleased to hear your remarks chair roman stabenow and those of senator klobuchar at the earlier hearing on march 3 at the dodd-frank implementation. due to market volatility in recent years co-ops are using more and more more over-the-counter products to better manage their risk exposure. by customizing what are known as commercial hedges and more producers are depending upon their core operatives to provide them with these tools to manage price risk and to assist them in locking in these margins. as i indicated earlier and as others have noted volatility is probably one of the most difficult challenges that we face in american agriculture today. american farmers and ranchers must continue to have access to these new and innovative risk management products if they are to survive. ncfc supports elements of the dodd-frank act that bring more transparency and oversight to be over-the-counter derivatives markets. however, he answered a created by the definition rules is our greatest concern at this time. while the cftc has proposed regulations for swaps and swap deale

klobuchar for questions and she has any. disconnect thank you. i appreciate that. thank you all of you for being here for this hearing and mr. chair for having this hearing. i think it's incredibly important. we are jury focused on air safety but i think as the chairman knows we have to be very diligent with our system it's so critical of goods and the flow of people across the nation and an attack could cause not only high casualties but also severe disruption to the interstate commerce so i appreciate hearing from you on this today. i have a question for us to police to be a prosecutor, director pistole, very focused on coordination with local law enforcement, and i know you discussed several of the initiatives pistole has taken to streamline the coordination of local law enforcement and could you expand on that and discuss more in detail to what extent does pistole not direct local enforcement and to greet their expertise to its own oversight and assistance programs. >> thank you, senator klobuchar pbr i would describe it in three ways. one is on information sha

klobuchar: mr. president? the presiding officer: the senator from minnesota. ms. klobuchar: mr. president, speaking on this amendment, i oppose this amendment and urge my colleagues to do the same. there is going to be a change with biofuels in this country. we're going to see phasing out of the support for biofuels in terms of federal policy, but the time to do it is not in the middle of the year, after seven years of federal support, with five days' notice. senator thune and i have an alternative bill that actually takes the rest of the year -- the last six months of this year -- the funding and puts $1 billion into deficit reduction, and then allows the industry to keep its footing so it can actually compete with oil. i would remind my colleagues that this is now 10% of our fuel supply. there have been studies done that shows the price of gasoline would escalate up to $1 more a gallon, if the rug was slid pulled out from under this industry. and it is the only competition with oil. so while this industry, unlike the oil industry, has acknowledged that there is change ahead an

klobuchar: mr. president? if i could continue, i thank senator thune for his work and one point i think he made that is inyeb incredibly important, t think all of our colleagues understand that this vtec that has been in place to make sure we have an alternative to oil in this country ends at the end of this year. the one piece of it that continues for another year is the cellulosic research, the cellulosic credit, but the rest of it ends at the end of this year. so instead of looking at a glued path, as suggested in our bill, where you could take $1 billion, put it into deficit reduction, take another $1 billion or so and put that which would be going right now as a credit, put that into the infrastructure, the alternative here that's suggested by our colleague from oklahoma's amendment is just to cut it off today basically, with a few days' notice. what i've heard time and time again from businesses, whether in the energy or medical device area, they want certainty. they don't want washington coming in with

the honorable senator amy klobuchar and her husband, mr.s would be, o.k., cost $170. >> and the shoes? >> $29. yes, that's correct, macy's. there you are. thank you. >> mr. eric garsety and his wife, ms. amy wacliff. mr. james rogers and his wife, mrs. mary ann rogers. mrs. carol fulke and her husband, mr. bernie fulke. mr. samuel palmisano. the honorable secretary timothy geithner, secretary of the treasury, and his wife, mrs. carol geithner. mr. jerry sykes and mrs. barbara rosaovich mr. david leanhard and his wife, mrs. laura lionhard. mr. antonio perez and his wife, mrs. laurie perez. mr. robert mcdonald and his wife, mrs. diane mcdonald. mr. william drosniac and his daughter, ms. natallia drosniac. dr. eileen rosenfeld and her husband, mr. richard ilgin. mr. robert gillette and his wife, ms. liza bunch. mr. mark ayers and his wife, mrs. deborah ayers. the honorable tom barrett, mayor of milwaukee, and his wife, mrs. chris barrett. >> i'm german, also. half irish. >> dr.-- and his wife. mrs. maurica mayer and her husband, mr. zachary bo

comey. >> thank you, senator klobuchar. senator grassley and distinguished members of this committee, thank you for inviting me to testify here today. it is great to be back in this room before this distinguished committee and especially to offer my voice in support of an extension of director bob mueller's term for two years. i know bob mueller very well and believe he is one of the finest public servants this nation has ever seen. in his decade as director i think he has made huge strides in transforming the f.b.i. and contributed enormously to the safety of the american people. when i was deputy attorney general during those two years, i spoke to bob mueller nearly every day and i watched as his remarkable combination of intellect and tenacity drove the f.b.i.'s counterterrorism efforts. because the director's standards were so high, everybody's work had to be better. his relentless probing, which was rooted in an almost encyclopedic knowledge of the enemy and our capabilities to respond to the enemy, rippled through the

senator klobuchar. >> thank you very much, mr. chairman. director, welcome. it's good to see you. thank you for all your good work. my question is i remember when we met earlier at the f.b.i. about some of the challenges you face, particularly, i'm very focused on some of the white collar crime investigations as you know, the resources necessary for those, and how that plays in with necessary steps you had to take after 9/11 to shift resources over to the investigating terrorism. with that in mind what do you see as the biggest challenges facing the f.b.i. over the next two years? >> quite obviously a continuation of the -- addressing the threat from terrorism both international terrorism and domestic terrorism and increasingly in that area is the radicalization of individuals over the internet where the radicalizers can be offshore and the individuals can be in the bedrooms here in the united states. they need not meet or have any other personal contact but persons can be radicalized through the internet. i mentioned before cyber the increase of cyber as a mechanism for conductin

i do want to thank senators klobuchar and thune for good-faith efforts to try to reach a promise.his compromise, at least from my point of view, must save substantial revenue for the debt and deficit for the treasury and eliminate wasteful ethanol subsidies and tariffs. so this, these negotiations have been ongoing since tuesday. we have not yet reached an agreement. and so a vote at 2:00 will not end these talks. i'm perfectly willing to continue to talk. but i do think that it is important that we have a clean up-or-down vote on the 0 coburn-feinstein amendment. the issue at hand is a simple issue. the subsidy given to these oil companies cost taxpayers billions of dollars every year, and the tariff actually has the effect of making us more dependent, not less dependent, but more dependent on foreign oil. let me explain. in 2005, the ethanol subsidy cost taxpayers $1.5 billion. this year that number is nearly $6 billion. so it's gone in six years from a cost of $1.5 billion to a cost of nearly $6 billion. there is a reason for it, and i'll goat that in a moment. -- and i'll get

reid of nevada, boxer, conrad, kerry, whitehouse, klobuchar, cardin, binge minimum -- bingaman, merkley, menendez, shaheen, sanders, lautenberg, reed of rhode island, durbin, akaka. mr. reid: mr. president, i ask unanimous consent the mandatory quorum under rule 22 be waived. the presiding officer: without objection. mr. reid: mr. president, i ask unanimous consent that when the senate completes its business today it adjourn until 10:30 a.m. on tuesday, june 7. following the prayer and pledge the journal of proceedings be approved to date, the morning hour deemed expired, the time for the two leaders be reserved for use later in the day. following leader remarks, senate proceed to a period of morning business for up to one hour with senators permitted to speak for up to ten minutes each with the time equally divided and controlled between the two leaders or their designees, with the republicans controlling the first half and the majority controlling the final half. following morning business the senate resume consideration of the motion to proceed to s. 782, the economic development act

i do want to thank senators klobuchar and thune for good faith efforts on reaching a compromise. this compromise must save substantial revenue for the debt and deficit, for the treasury, and eliminate wasteful ethanol subsidies and tariffs so these negotiations have been ongoing sense tuesday. we have not yet reached an agreement, and so a vote at two o'clock will not end these talks. i'm willing to continue to talk, but i do think that it is important that we have a clean up or down vote on the coburn-fine stein amendment. the issue at hand is a simple issue. the subsidy given to the oil companies costs taxpayers billions of dollars every year, and the tariffs actually has the effect of making us more dependent, not less dependent, but more dependent on foreign oil. let me explain. in 2005, the ethanol subsidy cost taxpayers $1.5 billion. this year, that number is nearly $6 billion, so it's gone in six years from a cost of $1.5 billion to nearly $6 billion. there is reasons for it, and i'll get to that in a moment. since 2005, the total costs of this subsidy is $22.6 billion. he

senator klobuchar. >> thank you very much, mr. chairman. director, welcome. it's good to see you. thank you for all your good work. my question is i remember when we met earlier at the f.b.i. about some of the challenges you face, particularly, i'm very focused on some of the white collar crime investigations as you know, the resources necessary for those, and how that plays in with necessary steps you had to take after 9/11 to shift resources over to the investigating terrorism. with that in mind what do you see as the biggest challenges facing the f.b.i. over the next two years? >> quite obviously a continuation of the -- addressing the threat from terrorism both international terrorism and domestic terrorism and increasingly in that area is the radicalization of individuals over the internet where the radicalizers can be offshore and the individuals can be in the bedrooms here in the united states. they need not meet or have any other personal contact but persons can be radicalized through the internet. i mentioned before cyber the increase of cyber as a mechanism for conductin

well, that's why i have sponsored legislation along with senators thune and senator klobuchar, that will reform the ethanol tax credit, it will provide deficit reduction and set us on the right path for alternative fuel development in our country for the long run. the legislation is called the ethanol tax reform and deficit reduction plan, and it's the right way, it's the right way to transition from the current veetc, volumetric ethanol excise tax credit, rather than the amendment today to simply do away with veetc. this is the right transition for us to make from the veetc to creating the right environment to stimulate development and energy growth in biofuels for the future. the ethanol tax reform and deficit reduction plan provides provides $1 billion in deficit reduction right away. it provides $1 billion in deficit reduction, but it also provides the right transition for ethanol by providing the right kind of energy policy. specifically, we provide incentives for things like blender pumps that offer consumers choice, and we provide the right kind of incentives for research, develop

senator klobuchar. >> thank you very much, mr. chairman. director, welcome. it's good to see you. thank you for all your good work. my question is i remember when we met earlier at the f.b.i. about some of the challenges you face, particularly, i'm very focused on some of the white collar crime investigations as you know, the resources necessary for those, and how that plays in with necessary steps you had to take after 9/11 to shift resources over to the investigating terrorism. with that in mind what do you see as the biggest challenges facing the f.b.i. over the next two years? >> quite obviously a continuation of the -- addressing the threat from terrorism both international terrorism and domestic terrorism and increasingly in that area is the radicalization of individuals over the internet where the radicalizers can be offshore and the individuals can be in the bedrooms here in the united states. they need not meet or have any other personal contact but persons can be radicalized through the internet. i mentioned before cyber the increase of cyber as a mechanism for conductin

senator klobuchar. >> thank you, mr. chairman. it was good to meet with you, mr. bryson and i'm impressed by your background. but we talked about in my office i would emphasize again. i think we are going to lose a real opportunity in this country if we don't pursue a competitive agenda for america. i think the commerce secretary is in a unique position to do that. some of it is under eurasian he, but some of it should come with the need to have someone that brings agencies together and focuses on moving our country forward competitively. the things we talked about, workforce readiness, we have people getting degrees and getting trained in jobs where we need them. obviously that is working with the department of education. when they can't find a welder in southern minutes a day to work at five commitment places that are trained to find highly paid employees we've got a problem. small and medium-size businesses with experts are helping them to have the kind of resources they need, which can be very small investment that can make it working at the state department t

senator klobuchar has a question. senator kerry have you voted? >> i haven't voted either. i can go and come back. >> yeah, it's going to be hard to vote and come back. all right. which of you is more intense about asking questions? >> i could just do two minutes of questions if you'd like me to. >> go ahead for two minutes. then john, you. >> okay. i actually have a question of you, mr. garcia, the -- we have many workers that i think could do better if they focus on training technical colleges and those kinds of things. texas has a 96 replacement rate. i think it needs to adjust to the new economy where it's not just your grandpa's vo tech. people who are getting two year degrees are doing better than some getting four years degrees and high school should be working better with the technical schools in terms of that focus. could you comment on that? and how -- the department of commerce could help workers learn more skills when they get laid off or less jobs in the industry they are in. >> thank you, senator. there's no question that we need more but also better jobs and

well, that's why i have sponsored legislation along with senators thune and senator klobuchar, that will reform the ethanol tax credit, it will provide deficit reduction and set us on the right path for alternative fuel development in our country for the long run. the legislation is called the ethanol tax reform and deficit reduction plan, and it's the right way, it's the right way to transition from the current veetc, volumetric ethanol excise tax credit, rather than the amendment today to simply do away with veetc. this is the right transition for us to make from the veetc to creating the right environment to stimulate development and energy growth in biofuels for the future. the ethanol tax reform and deficit reduction plan provides provides $1 billion in deficit reduction right away. it provides $1 billion in deficit reduction, but it also provides the right transition for ethanol by providing the right kind of energy policy. specifically, we provide incentives for things like blender pumps that offer consumers choice, and we provide the right kind of incentives for research, develop

we will go to senator klobuchar and then senator lugar. >> thank you very much, madam chairwoman, and thank you for holding this hear. i think we all know that reckless trading of unregulated over-the-counter derivatives played a role in the crisis of 2008 bringing transparency and accountability to the market is essential, and that's why i'm glad we have this oversight hearing and that you're here to talk about the implementation of wall street reform. i think it's also important to remember as i think both of you know that while many financial institutions gambled in the over-the-counter derivatives market, farmers, manufactures, and a host of other businesses that produce goods and provide services were successfully using derivatives to reduce risk in their business. derivatives when used properly and backed by sufficient collateral play a crucial role in our financial and economic system. now, my questions are first about the speculation in the oil market. i don't think you're surprised by the first question. chairman ginlsle, we had an deny chairman ginsler, we had an ongoing con

president, i also very much appreciate the understanding of senator feinstein, senator klobuchar, senator thune, senator coburn. we have worked really hard to get to this point. it hasn't been easy. most everyone didn't get what they wanted, but that's what agreements are all about. and we have the opportunity to move forward on to other things. we'll have to decide what more we can do on this bill, but i appreciate very much their understanding and the many conversations i had with them during the day they were all very courteous and thoughtfu thl and very good advocates for their positions. i ask consent that the senate proceed to s. res. 208. the presiding officer: the clerk will report. the clerk: s. res. 208, expressing the sense of the senate regarding mongolian president visit to washington, d.c., and its support for the growing partnership between the united states and mongolia. the presiding officer: without objection, the senate will proceed to the measure. mr. reid: i ask that the resolution be agreed to, the preamble be agreed to, any statements related to the measure be print