mr. crapo: thank you very much. mr. hassett, my question for you is in the space you just referenced. you have extensive experience with economic growth modeling and evaluating the economic impacts of policy. you mentioned you'd like to prioritize getting that more transparent and i assume out here, understood and used. vears growth estimates have been discussed recently in the context of tax and budget and other reforms. in your opinion, is 3% growth a reasonable target? fand so, please explain what policies would be needed to reach that goal. mr. hassett: thank you very much. the 3% growth is something that used to. used to be that was the rule rather than the exception. but growth comes basically, if you want more output, ultimately from more inputs. historically we've had a lot of labor force growth, capital stock growth and technological innovation that have driven growth up to around 3%. all three of those factors have been very disappointing for some time now. we had the computer revolution in the 1990's. that sl

mr. crapo: mr. president. the presiding officer: the senator from idaho. mr. crapo: i ask unanimous consent to speak for five minutes before the vote. the presiding officer: is there objection? without objection. mr. crapo: i rise today in support of mr. marshall billingslea who has been nominated to serve as assistant secretary of the treasury for terrorist financing. mr. billingslea proved that his nomination hearing before the banking committee that he is exceptionally qualified for this job. as assistant secretary for terrorist financing, mr. billingslea would be in charge of coordinating treasury's efforts on terrorist financing, antimoney laundering and other illicit financial threats to the domestic and international financial system. mr. billingslea would work with the entire national security and law enforcement communities, the private sector, foreign governments, and other entities to carry out this mission. as demonstrated at his confirmation hearing, his unique background includes 22 years of experience working with these entities to protect the na

mr. crapo: i ask unanimous consent to speak for five minutes. the presiding officer: without objection. mr. crapo: thank you, mr. president. i rise today in support of ms. sigal man delker to be under secretary for terrorism and financial crimes. members of the banking committee were moved by her heartfelt story of her parents' escape from the holocaust. as her father proudly sat behind her, she explained to the committee how as holocaust survivors who narrowly avoided death, her parents raised her to never take for granted our safety, security, or freedom. it was this that motivated ms. mandelker to public service where she had a successful career at the departments of justice and homeland security before joining the private sector. like many americans, she was compelled to action following 9/11 and joined to serve in justices counter terrorism and national security missions. it was obvious that she would be a strong leader to defend our nation against terrorism and illicit finance threats. she received bipartisan support from the banking commi

mr. crapo: thank you, mr. president. mr. president, i rise today to speak on the crapo-brown-corker-cardin countering russian aggression and cyber attacks act of 2017. this bill was filed as an amendment. it was filed as amendment 232 to the iran sanctions bill late last night. yesterday, the senate banking and senate foreign relations committees concluded their work on a ground breaking piece of legislation -- ground-breaking piece of legislation regarding russia sanctions. i say ground breaking because the legislation not only ratchets up pressure against the russian federation for its illegal invasion and annexation of crimea, continuing escalation of violence in eastern ukraine and its cyber activities against businesses and citizens of the united states, but it also importantly provides congress with a strong oversight process over almost any termination or suspension of these sanctions. senators corker, brown and cardin and their staffs spent many, many hours to ensure that we put together a thoughtful and measured prod

crapo. >> thank you, mr. chairman and secretary ma mnuchin i appreciate you being here. >> i don't know i've ever seen a secretary of the treasury who what's been more willing to engage with congress whether it's at testimony in hearings or coming out as i indicated meet i'd havely with senators or dmit tease and working with us to achieve the objectives that we agree need to be achieved so thank you for that. >> thank you. >> with regard to your opening statement, it basically covered what i was going to go through in my questions. >> i appreciate the path you've taken i just want to highlight something there. you indicated that the budget you were working on assumed about a 2.9% growth over ten years, is that correct? >> that's correct. that's significantly lower than what president obama used in his original budget of above 4% growth, i might just point out. >> you've beat me to my question again. that was going to be my question. just by way of comparison, president obama had assumed almost a percent of g

crapo. >> thank you, mr. chairman and secretary ma mnuchin i appreciate you being here. >> i don't know i've ever seen a secretary of the treasury who what's been more willing to engage with congress whether it's at testimony in hearings or coming out as i indicated meet i'd havely with senators or dmit tease and working with us to achieve the objectives that we agree need to be achieved so thank you for that. >> thank you. >> with regard to your opening statement, it basically covered what i was going to go through in my questions. >> i appreciate the path you've taken i just want to highlight something there. you indicated that the budget you were working on assumed about a 2.9% growth over ten years, is that correct? >> that's correct. that's significantly lower than what president obama used in his original budget of above 4% growth, i might just point out. >> you've beat me to my question again. that was going to be my question. just by way of comparison, president obama had assumed almost a percent of g

crapo? >> thank you very much, mr. chairman and i thank you for inviting senator graham to be with us.it's a welcome to see you. we miss you here. i'm glad we're getting -- we still need your wisdom. i want to go quickly into two things. i want to get some numbers out. i wasn't here at the beginning, so you may have said, how many years has it been since we have not achieved greater than a 2% growth. i think it's approaching ten years. >> let me put it this way. there is no president in the in the last 135 years that has not achieved in at least one year 3% growth in their presidency. and i say 135 because annual data is not available before that. but i am convinced that if we actually had the annual data, that the obama presidency was the first presidency in american history that never had a 3% economic growth in any single year. >> well, i think you're headed to where i'm trying to get at. i believe it's correct to say we have not had an economic growth rate over 2% for at least eight years. probably closer to ten. and you've indicated that the average for the last, i think, 60 years

mr. hassett. ms. patenaude. >> thank you chairman crapo ranking member brown and distinguished members of the committee. it is a great privilege to appear before you this morning. i am deeply honored by president trump's decision to nominate me as the deputy secretary of the u.s. department of housing and urban development. i also want to thank senator sheeheen for they are thoughtful introduction and a special thanks to a my deer friend senator bob dole for joining us this morning. mr. chairman, if i may take a moment to introduce my husband and three daughters. my husband of 32 years, chuck, katlyn, they're out of order. meghan and jennifer. and i also want to recognize my niece kristin hews also here with us today. and the many friends sitting behind me showing love and support. housing halls been disclose my heart and part of my family history. my late parities bob and ee tella heuss together created and ran a successful home building business in the new hampshire. there was no escaping talk in my momi about housing. it was no surprise to my parents when i came to share their passion for housing. a

mr. president, to senators corker, crapo, the chairman of the foreign relations committee and chairman of the banking committee for the work they have done on the sanctions russia amendments. it was a bipartisan bill. our colleagues on the other side, the senator from maryland, others were involved until crafting this legislation, mr. president, and it is demonstration that this body can come together and do consequential things. these are two big national security and foreign policy measures that we have moved today. mr. president, there have got to be consequences for iranian and russian aggression. and this legislation makes sure that there will be. and i'm pleased that it moved today with large bipartisan support here in the united states senate senate, because it will send a clear message to those we hope to make sure hear it. thank you, mr. president. i yield the floor. mr. cardin: mr. president. the presiding officer: the senator from maryland. mr. cardin: mr. president, in april was national minority health month. i point that out because i work with many of my colleagues in order

mcconnell, for mr. crapo, proposes an amendment numbered 232. on page 33, line 7, strike subsection -- mr. mcconnell: i ask the reading be dispensed with. the presiding officer: without objection. mr. mcconnell: i ask for the yeas and nays on the amendment. the presiding officer: is there a sufficient second? there appears to be. the yeas and nays are ordered. mr. mcconnell: i have a cloture motion at the desk. the presiding officer: the clerk will report the cloture motion. the clerk: cloture motion. we, the asinine undersigned, in accordance with the provisions of rule 22 of the standing rules of the senate, do hereby move to bring to a close debate on senate amendment 232 to calendar number 110, s. 722, a bill to impose sanctions with respect to iran in relation to iran's ballistic missile program, support for acts of international terrorism and violations of human rights, and for other purposes, signed by 17 senators as follows. mr. mcconnell: i ask the reading of the names be dispensed with. the presiding officer: without objection. mr. mcco

mr. crapo: i rise to speak on behalf of the crapo-brown-corker-cardin legislation. this is filed as amendment 232 and as has been indicated we'll vote on it in just a few minutes. this amendment is the result of a partnership between the senate banking committee and the senate foreign relations committee. amendment 232 ratchets up against russia for its continuing escalation of violence in eastern ukraine and maligned cyber activities against business and citizens of the united states. it also provides congress with strong oversight over almost any termination or suspension of these sanctions. i spoke yesterday about the hard work of senators corker, brown, and cardin and their staffs, and i thank them again for their leadership. i also again thank senators mccain and graham and shaheen who have contributed to these efforts. i recognize our latest cosponsors, senators purdue, menendez, warren, rubio, scott, heitkamp, reed and toomey and appreciate their cosponsorship and support as well. we appreciate the leadership of majority leader mcconnell and democratic leader