mr. conyers, and the chairman, mr. smith, of agreeing to my amendment, jackson lee number 4 that was just debated, i ask unanimous consent to withdraw my request for a record vote. the chair: is there objection to the gentlewoman's request? the request is withdrawn. the chair: it was adopted by voice vote. ms. jackson lee: thank you. the chair: it is now in order to consider amendment number 7 printed in part b of house report 112-111. for what purpose does the gentleman from michigan rise? mr. peters: i have an amendment at the desk. the chair: the clerk will designate the amendment. the clerk: amendment number 7 printed in part b of house report 112-111 offered by mr. peters of michigan. the chair: pursuant to house resolution 316, the gentleman from michigan, mr. peters, and a member opposed, will each control five minutes. the chair recognizes the gentlewoman from michigan is recognized. mr. peters: thank you, madam chairman. i believe we must do more to help our nation's small businesses compete in the global mark

mr. conyers: i thank the gentleman, mr. nugegent, what do you think the -- mr. nugent, what do you think the congressional budget office sent us and you a letter saying it will increase direct spending by a total of $1.1 billion. that's not even a small increase. and by the way, the fact that somebody else waived pay-as-you-go doesn't give you the right to pay as you cut, or cut as you go. this is outrageous. that this would be allowed in the first six months of the year where -- and it's never been waived before in the 112th congress. and he says it's not going to cost us very much. or nothing. the speaker pro tempore: the gentleman's time has expired. members are also reminded that their remarks should be directed to the speaker. not directed to one another. the gentleman from florida. mr. nugent: mr. speaker, just in response. the letter that we have from the congressional budget office of may 26 talks about c.b.o. estimates enacting the bill would reduce net direct spend ig by $725 million. -- spending by $725 million. i'm not sure if we have the same letter

mr. conyers: thank you very much, sir. we're good friends. what you're telling me, i presume, is that you approve a $650 million cut from the women, infants and children fund, is that correct? mr. bartlett: i was trying to put in context our discussion here and what it -- and what it means. mr. conyers: right. you approved a cut -- mr. bartlett: reclaiming my time. if we have a $6 trillion, and we're coming close to that this year -- you know, the ryan budget was kind of the expression of his road map and the last congress only eight of us had the courage to sign on to his road map because it was pretty tough. this year when he filed that road map again i think 13 of us signed on. and then we had the ryan budget which is even tougher than i think his road map, but what else was there to vote for and almost nobody read it and somehow we passed it anyhow. the ryan budget doesn't balance for 25 years. it doesn't balance for 25 years. that means -- what that budget, with all of its austerity, for 25 years we still are accumulating more and more an

mr. conyers of michigan. in mid-february, the new york stock exchange, euro next and the deutsche boerse announced a merger that would give deutsche boerse 60% owner of the company that would own the new york stock exchange. the big board of the new york stock exchange would merge under rt umbrella of a foreign company with understandable apprehension. with would this merger harm competition, and america's role in the international financial system. the nasdaq and intercontinental exchange announced a competing offer on the morning of the hearing, we were not able to take testimony from the merging parties at that time. instead we proceeded with a panel of two distinguished experts in exchange markets. professor larry harris and professor mercer bored. today we continue and complete our hearing taking testimony from representatives of nyse and deutsche boerse. this hearing provides an opportunity for the merging companies to respond to the issues and concerns that have been raised in the public discussion of

mr. conyers and mr. rohrabacher -- mr. rohrabacher. they propose that the first to file patent system that is being promoted to harmonize our system with other countries would not go into effect until the grace period which is the critical part of theatent system actually is fixed and harmonized and i think, i don't know whether we can -- if the manager's amendment is passed, the fatal defect of defining the prior art is disclosures, i don't believe can be fully remedied by this amendment, although i think the amendment is a good one and i intend to support it. so i think it's very important that the manager's amendment be defeated. i would hope that if that happens that we might have a chance to step back and to fully examine where we are in terms of the prior user rights and the grace period. because as the patent commissioner had said, this is the gold standard, the united states has had the gold standard in patents with this grace period. it would be a shame, not just for the congress but for our country and our future as innovator

mr. conyers was chair. i am distressed to report today that i cannot support this measure after working on it since 1997. not only does it violate the rules, it costs the treasury and it will disempower small innovative inventors. so this is wrong, and the amendments that could have been put in order to correct them were not permitted. i think this is really quite a shame and i would urge that the measure not be brought up. as mr. sensenbrenner suggested, it should be sent back to the judiciary committee for further work. i would yield back to mr. garamendi so he may yield to the former chairman. the speaker pro tempore: the gentleman from california controls the time. the gentleman from california is recognized. garegare may i inquire as to how much time i have remaining? the speaker pro tempore: the gentleman from california has five minutes. garegare very good. i think i would like to now yield two minutes to mr. sensenbrenner. the speaker pro tempore: the gentleman from wisconsin is recognized. mr. sens

mr. conyers question. do any of those agencies do -- what are you submitting to them and under what authority are they asking you for information? >> sure. each of our regulators wants to make sure particularly when there's cross-border or cross-country aspects going on, that the proper regulation is maintained. so for example, there's the anti-competition authority in europe. there's each of the country regulators for each of our exchange in europe. we have a paris exchange, brussels, amsterdam, et cetera. >> i want to focus on the u.s. entities, the regulators within the united states. you mentioned cftc, the s.e.c., you mentioned the fed. is the ftc involved? >> not to my knowledge, the ftc. >> what other agencies -- >> the sythes committee. we're voluntarily filing. >> anybody else that you can identify that you're submitting information to? >> i just didn't hear you say justice department. >> well we said doj at the outset. they're the big, big enchilada here, they make the final decision. what i'm no

mr. conyers and mr. rohrabacher -- mr. rohrabacher. they propose that the first to file patent system that is being promoted to harmonize our system with other countries would not go into effect until the grace period which is the critical part of the patent system actually is fixed and harmonized and i think, i don't know whether we can -- if the manager's amendment is passed, the fatal defect of defining the prior art is disclosures, i don't believe can be fully remedied by this amendment, although i think the amendment is a good one and i intend to support it. so i think it's very important that the manager's amendment be defeated. i would hope that if that happens that we might have a chance to step back and to fully examine where we are in terms of the prior user rights and the grace period. because as the patent commissioner had said, this is the gold standard, the united states has had the gold standard in patents with this grace period. it would be a shame, not just for the congress but for our country and our future as innovat

mr. conyers. ranking member john conyers stated during markup, the amendment is needed to -- and i quote him -- "remove what amounts to a trap and would clarify the term business day, and so our attempt here is to make the congressional effort at patent reform more clear and more efficient." chairman lamar smith also advocated passage of this amendment during markup in the house judiciary committee, and i would quote him -- "i will recognize myself in support of the amendment. now the gentleman's amendment -- meaning the conyers amendment -- clarifies the counting rules that are imposed on patent holders who must submit documents to the agency within statutory time limits. it has been established that the patent and trademark office has inconsistently applied these rules, which is not fair to various patent holders. the gentleman's amendment tracks the recent court case -- and that's a court case i have already cited. i want to start that sentence over. "the gentleman's amendment tracks the recent

john conyers says mr. chairman, will yield. they'll start whispering, here comes. he's going to scream about these guys. they're just putting these guys and i'm just thinking conyers is going to kill us. john conyers started saying i joined with my colleague, the chairman of welcoming congressman jim rogan. congressman rogan, what a fine man, a great state name. [laughter] and he is going and on about what a wonderful addition. all these republicans around me are starting to do this, looking at me. you know, what is this all about. and i am just sitting there. and i look at me very suspiciously. i go on, to welcome congressman rogan to the committee. he said, mr. chairman, i yield the balance of my time. so at the time the campaign memorabilia holds me up. i was in on the very long when newt gingrich called and said he had a homework assignment for me indicates me because you said i'd do a prosecutor and a judge. he said, you know, we don't know what is going to happen with this. the special prosecutor was working in secret. we didn't do what he was putting together

[applause] john conyers is a jazzman so that means he can improvise from now on so he is mr. jazz, was the highlight of the congressional black caucus in addition to all the other things that go on he convenes a session on jazz, a workshop in the concert. he goes to the rainbow push but we all know we can be on september 21st at the congressional black caucus. i also have the special privilege of introducing the keynote presenter for this afternoon and we hope everybody is coming to settle in and hang for the entirety of the afternoon because we have an incredible panel here, incredible panel that is going to in fact lee of the devastating impact on the war on drugs and some of it is not going to be easy. some of it is going to challenge conventional thinking but we didn't get here by our choice, we are in this predicament and now need to find our way out. one of the things for is the honorable john conyers has to catch a train and reverend jackson has to get a plane. it is my honor to introduce one of the foremost leaders of our time, one of the foremost leaders of our time.

conyers. give it up for him again. i mean, he was a jazz man. that means he can improvise from now on. he is mr. jazz. one the highlights, in addition to all of the other things that goes on, he ever year convenes a session on jazz, workshop, and concert. we may not all be able to go to the rainbow push, we know we can be on september 21st at the congressional black caucus. i also wanted the special privilege of introducing the keynote speaker. we hope everybody is going to hang for the afternoon. we have an incredible panel here, incredible panel that is going to layout the devastating impact of the war on drugs and talk about alternatives. some of it is not going to be easy. it is going to challenge some conventional thinking. that's why we are here. we didn't get here by our choice. we're in the predictment. we know need to find our way out. one the reasons that i needed to stand, the honorable john conyers has to catch a train. and reverend jackson has to get a plane. it is now my honor to introduce one the foremost leaders of our time, one the foremost leaders of our time. he is my former boss. f

mr. conyers of michigan. in mid-february, the new york stock exchange, euro next and the deutsche boerse announced a merger that would give deutsche boerse 60% owner of the company that would own the new york stock exchange. the big board of the new york stock exchange would merge under rt umbrella of a foreign company with understandable apprehension. with would this merger harm competition, and america's role in the international financial system. the nasdaq and intercontinental exchange announced a competing offer on the morning of the hearing, we were not able to take testimony from the merging parties at that time. instead we proceeded with a panel of two distinguished experts in exchange markets. professor larry harris and professor mercer bored. today we continue and complete our hearing taking testimony from representatives of nyse and deutsche boerse. this hearing provides an opportunity for the merging companies to respond to the issues and concerns that have been raised in the public discussion of