mr. hensarling: mr. speaker, at this point, i would like to yield two minutes to the chairman of the oversight and investigations subcommittee of financial services, the gentleman from wisconsin, mr. duffy. the speaker pro tempore: the gentleman is recognized for two minutes. mr. duffy: i just want to quickly address my good friend from minnesota's comments that this ex-im bank doesn't cost any money. the truth is that it does. we bailed it out to the tune of $3 billion in the 1980's. fannie and freddie don't cost the taxpayers any money? doesn't cost taxpayers money until it does. it is a government guarantee. and you see how hard it is when you are going to take away a government subsidy. businesses fight like you know what so you don't take it away and they will lobby. i'm tired. i hear some of those presidential candidates talk about cronyism and those who look out for corporate welfare and try to point the finger to this side of the aisle. if you open your ears and listen to this debate, ask yoursel

mr. hensarling: mr. speaker, mr. speaker. the speaker pro tempore: the gentleman from texas. mr. hensarling: mr. speaker, on that i request the yeas and nays. the speaker pro tempore: the yeas and nays are requested. all those in favor of taking this vote by the yeas and nays will rise and remain standing until counted. a sufficient number having arisen, the yeas and nays are ordered. members will record their votes by electronic device. this is a 15-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 speaker pro tempore: on this vote, the yeas are 246, the nays are 177. the motion is adopted. without objection the motion to reconsider is laid upon the table. the clerk will report the resolution. the clerk: house resolution 450, resolved that i

mr. hensarling: mr. speaker, it is now my pleasure to yield to the distinguished chairman of the house ways and means committee as much time as he may consume. the speaker pro tempore: the gentleman is recognized for such time he may consume. mr. ryan: i thank the gentleman nor yielding. mr. speaker, i want to express my strong disapproval for this bill for the export-import bank. this is a pretty frown debate we are having. it's about the kind of economy we are going to v are we going to reward good work or good connections? i think there are plenty other ways to expand opportunity in this country and corporate welfare is not one of them. the biggest beneficiaries of this bank, 2/3 of the money go to 10 companies. 40% goes to one company. and this bank does cost money, just ask the congressional budget office when they use real corekeeping. remember fannie mae? remember their accounting? remember when they told us they weren't going to cost any money until they did. and it cost us billions. the other ex

mr. hensarling: mr. speaker, pursuant to house resolution 462rks i call up the bill h.r. 3192 to provide a temporary safe harbor under the real estate settlement procedures act of 1974 anti-truth in lending act, and for other purposes, and ask for its immediate consideration in the house. the speaker pro tempore: the clerk will report the title of the bill. the clerk: union calendar number 210, h.r. 3192, a bill to provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loans transactions under the real estate settlement procedures act of 1974, and the truth in lending act, and for other purposes. the speaker pro tempore: pursuant to house resolution 462, the bill is considered as read. the bill shall be debatable for one hour equally divided and controlled by the chair and ranking minority member of the committee on financial services. the gentleman from texas, mr. hensarling, and the gentlewoman from california, ms. waters, each will control 30 minute

mr. hensarling: thank you, mr. speaker. i yield two minutes to the gentleman from arizona, a valued member of the financial services committee, mr. schweikert, two minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. schweikert: i hope you're all listening to some of the use of language. i appreciate the history lesson. but has it been lost on you the irony in part of this discussion that hey, we're going to do a discharge petition which is part of the rules, because we don't feel we're having a voice. oh, by the way, we're going to draft a rule, draft a rule that you can't offer amendments that you can't have a discussion, that you can't, for those of us who have worked on this issue for years, who have sat through dozens of hearings in multiple years, who actually have things we believe make it better, the brilliance here is, lock it down. that this -- so you're going to complain you're not being treated fairly and then the answer to not being treated fairly is, let's write a rule that no one

mr. hensarling: there we go again for the 62nd time. president reagan used that over and over again. >> when i was elected, the members of my district would say over and over again, we want you down there to help fix the system. the chairman admitted that the budget has nothing to do with the economy and certainly what we are doing today has nothing to do with putting the men and women back to work. our constituents want us to do our job. do your damn job. but what we have here is a complete farce. many of the members of this room sit on armed services where we heard the leadership, generals come to us and say we need predictability. we can't plan on this. yet, what we are doing today? we are doing that. this isn't doing our job. i heard the term bipartisan. there has never been a vote since i have sat on this panel where one member voted for the other motion or underlying bill. not once. that's not bipartisan. that's not working together. all we are doing is falling back into our holes where we are. and i think the american people are

hensarling said, to the hill, on april 10, 2011. mr. speaker, i believe if we bring a clean bill to this floor tuesday or wednesday of next week, almost every democrat will vote for it. why? because we agree with jeb hensarling not to do so would be catastrophic. it would also be irresponsible and mall feesance. -- malfeasance. and i ask the majority leader, he has said that we need to do it. we must do it. can the majority leader tell us when that bill will be brought to the floor? i yield to my friend. mr. mccarthy: i thank the gentleman for yielding. it's one thing to pass the debt limit. it's another thing not to deal with it. the problem and not find a solution. that's why in this house we are very proud of the fact when the republicans took the majority we had always offered a budget that balances. we passed one. that balances without raising new taxes within the decade. unfortunately, the white house has never found a way to do that. as the gentleman mentioned, the secretary has moved the date from reaching the debt limit up to no

mr. hensarling, before us in the rules committee yesterday. and he simply said that under dodd-frank the s.e.c. has the ability to pass rules regarding fiduciary standards of care. i don't think anybody disputes that the s.e.c. has the legal authority to do so. i question here, and i think this was well established, is that they're unlikely because of their ongoing implementation of work in many different areas to get to this any time soon. whereas the department of labor s nearing the end of a two-year-long-plus process around trying to make sensible rules to ensure that conflicts of interest within retirement advice are offered, consumer protections are provided and the market is allowed to operate in a more efficient way with regard to offering quality retirement products and appropriate retirement products to consumers. now, after the department of labor retracted the flawed first version of this rule several years ago, they released a new version of the of the rule in early 2015. now, theash been getting input from a broad spectrum of sta

i talked to jeb hensarling, i said, mr. chairman? he said, that's a good title. he doesn't want to be speaker of the house. the people who could be voted are out of the running. >> chad, that's what makes since here. it's all about the math. you have to have 218 votes. without the right wing he doesn't have the votes. that's that. why suffer a humiliating defeat. or this? a north carolina'll congressman walter jones wrote an extraordinary letter in which he asks that the candidates with secrets to hide drop out of the race. he called out two former republicans who resigned amid scandals. and he wrote that he wants to make sure nothing like that happens again. and now, the man who would be speaker dropped out of the race. is there a there there? i'll speak with a man who wrote the letter, live next. buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. before i had the shooting, burning, pins-and-needles of these feet...e pain, ...served my cou

mr. jeb hensarling, for his leadership in helping bring a number of bills as we've just seen to the floor today. i'd also like to thank all of my colleagues on the financial services committee from both sides of the aisle, obviously both sides because we have voted unanimously for the disclosure modernization and simplification act out of committee, not just once but twice when you include passage of last year as well. i'd also like to add this legislation passed the legislation by voice vote in december of 2014. so, yes, what is the purpose of this bill and why is it necessary? well, mr. speaker, look, if you step back about eight decades ago, congress made the monumental decision in this country that disclosure, opening up and trarns parentsy would be the centerpiece of our nation's security law. see, instead of carving out a merit review system where the federal government determined which companies were allowed to put our money into, congress wisely went down the other road and decided that those decisions would be best made, where, in the habbeds of the people, in the hands of the in

hensarling did an exceptional job. been here 17, 18 years. he's a guy we admired every step of the way. we're all convinced he can do. >> [inaudible] mr. cole: no. trey gowdy, he's better than me. >> was there any grumbling about the budget? mr. cole: no. it was focused on the elections so no discussion about that. -- [inaudible] mr. cole: i think they committed to a really good guy. they sent the message they wanted to send. i don't think there's any doubt that members will feel very comfortable united behind paul ryan. >> were you surprised by the 43 threshold? mr. cole: no, it doesn't. look, dan's got a lot of friends. people genuinely respect. he's from a big delegation. you know, he initially had -- did have the freedom caucus. no, i'm not surprised at all. expected him to do very well. >> are you confident that paul will have the votes tomorrow? mr. cole: i don't have any doubt. i talk to him every day. -- n't ask him to do what [inaudible] you know, i think this is a very different election. i think everybody on both sides was about bringing us together, about a new beginning under a new speaker. the fact that the process under

mr. hensarling: thank you, mr. speaker. again, let me remind all that the administration that told the american people, you like your doctor, you can keep them, is now telling us if you like your financial advisor, you can keep hem. not in the face of the judiciary rule. the ranking member brought up the u.k. experience. it's funny, we heard something completely different than what she described in our hearing. what we heard was, quote, in the wake of the u.k. commission band, which mr. speaker is similar to what the d.o.l. fiduciary rule is, quote, the largest banks have significantly raised the minimum account balances required before they offer financial advice to investors. the number of advisors serving retail accounts plunged by 23%. tens of thousands going without financial advice because their accounts aren't large enough. what my friends on the other side of the aisle would do by backing this d.o.l. rule is take it away. you don't count. you're not rich enough to get any financial advice. you can't grow your saving

mr. hensarling: mr. speaker, it is now my pleasure to yield to the distinguished chairman of the house ways and means committee as much time as he may consume. the speaker pro tempore: the gentleman is recognized for such time he may consume. mr. ryan: i thank the gentleman nor yielding. mr. speaker, i want to express my strong disapproval for this bill for the export-import bank. this is a pretty frown debate we are having. it's about the kind of economy we are going to v are we going to reward good work or good connections? i think there are plenty other ways to expand opportunity in this country and corporate welfare is not one of them. the biggest beneficiaries of this bank, 2/3 of the money go to 10 companies. 40% goes to one company. and this bank does cost money, just ask the congressional budget office when they use real corekeeping. remember fannie mae? remember their accounting? remember when they told us they weren't going to cost any money until they did. and it cost us billions. the other ex