mr. shelby: senator corker. mr. corker: i had numbers of conversations with your predecessor about qe2 and qe3. i know the fed announced in 2014 the normalization process and both your predecessor and this process is to 2014 stated that they securities we had built up on the balance sheet would be held to maturity. and then they would run off the balance sheet. you basically announced today qe4.we are embarking on inreinvesting the proceeds new securities, which is a major policy change, is it not from where the that has been? allowing the securities to run off. maybe i'm misunderstanding what you're saying. i thought heard you say the fed is now, when we reach maturity on the securities, going to reinvest them, which is a pretty big policy change. chair yellen: it is not a policy change. that has long been our policy. ever since qe3 ended we made clear that we would continue to reinvest maturing proceeds within -- we have been doing that ever since. we did say that as the economy recovers and the fed funds rate ris

mr. shelby: mr. president? the presiding officer: the senator from alabama. mr. shelby: i ask consent to call up amendment 4686 to the substitute amendment of. the presiding officer: the clerk will report the amendment. the clerk: the senator alabama, mr. shelby, proposes an amendment numbered 4866 to amendment number 4685. mr. shelby: i ask consent that the reading of the amendment be dispensed with. the presiding officer: is there objection? without objection. mr. shelby: mr. president? the presiding officer: the senator alabama. mr. shelby: mr. president, i rise this morning to encourage my colleagues on both sides of the aisle to support h.r. 2578, the commerce, justice, science, and related agencies appropriations bill for the fiscal year 2017. but before i discuss this bill, mr. president, i want to take a few minutes to extend my condolences to all who lost loved ones in the who are refusic act of terrorism -- in the horrific act of terrorism that took place over the weekend in orlando, florida. the unspeakable act of violence underscores how critical it is

mr. shelby... >> narrator: also watching in the gallery, tucson survivor pat maisch. >> i went from being sad to being mad. they're all down there in their good ol' boy stance, shaking hands, chatting. >> mr. wyden... (gavel banging) >> on this vote the amendment is not agreed to. >> like people's lives aren't in the balance on this, and i just thought they needed to be shamed. they should be ashamed of themselves. i stood up and said, "shame on you." shame on you! >> there will be order in the senate. >> because they needed to be shamed. shame on them. shame on me if after what i've gotten to witness i choose to be quiet. >> i'm surprised that she was the only one, actually, that burst out... because it was so intense and so charged. >> the gallery will refrain from any demonstration or comment. >> they felt betrayed. that's the word, betrayed. "how could they vote that way? don't they understand what happened? how can they do that? how can this be?" i mean it was disbelief and a sense of betrayal. that was the mood. >> narrator: manchin's bill had fallen five votes short. the defeat eff

mr. shelby: i object. the presiding officer: objection is heard. ms. heitcamp: mr. president? the presiding officer: the senator from north dakota. ms. heitcamp: we'd like to engage in just a discussion of what this means to american workers, to american exports, and american manufacturing. i think we've worked very, very hard over the last several months to try and move this nomination forward. we fought this fight. many appearing with me today fought this fight, whether it was on t.p.a. or whether it was just sumly trying to get -- simply trying to get reauthorization of the ex-im bank advanced and furred. we -- advanced and furthered. we lost this fight. and again we have an inability to move this nomination forward, so we want to talk about this today. i'm going to yield to several of my colleagues here for their short comments, and we'll start with senator schumer, who i think he has a commitment with the judiciary committee. mr. schumer: thank you. i want to thank my dear friend, the senator from north dakota, for her leadership on this issue as well as our two great sen

mr. president. let me first extend my thanks to chairman shelby and to ranking member mikulski for putting together a truly bipartisan bill. mr. murphy: i'm honored to be a member of the appropriations committee. this is a difficult bill to put together but they did very good work in the subcommittee to make this a product that both sides could support. and so i thank them for allowing me to be a part of that process. second, let me acknowledge the remarks that senator mikulski who noted that in many ways the world and the country has changed since this bill was scheduled to come to the floor. our heartbreaks collectively in this country for the citizens of orlando and as i'll speak in a moment, in particular in connecticut. our heartbreaks for the people of orlando because we know in a very real way the pain that exists there today but we also know how that pain is really never ending, how the ripples of that pain are unceasing and unrelenting and they span generations. they span neighborhoods. they span years. newtown is still putting itself back together, probably will be for a long time and orla

shelby: thank you. senator brown. senator brown: thank you, mr. chairman. madam chair, i first thank you for your work on the recent insurance rules. i'm pleased the fed has put out and post rulemaking for capital standards for the two largest insurance companies and the 12 insurance companies that are saving some holding companies. i appreciate your constructive dialogue with stakeholders. i think that your response to our efforts here made a huge difference in doing this right. this week, the banking committee will have a hearing on capital liquidity rules. please discuss for us the fed's approach to capital liquidity rules for the nation's largest banks, specifically have these new rules made our financial system stronger? janet yellen: i do believe that the enhancements that we have put in place to capital and liquidity requirements that are tailored by firm size and systemic importance have made an enormous difference to the safety and soundness of the u.s. financial system. the quantity of capital at the largest banking organizations is essentially do

mr. president, i ask unanimous consent that the following senators be added to the inhofe-murkowski amendment numbered 4204 -- sessions, rubio , shelby, moran, warren, peters and menendez. the presiding officer: without objection. mr. be mr. president. mr. inhofe: mr. president, we have been here before. the same language that is in the base bill right now was in a year ago. last year on the floor, we passed the inhofe-mikulski amendment requiring a report by the secretary of defense on commissary benefits. it passed by unanimous consent with 25 bipartisan sponsors and cosponsors, supported by 41 outside organizations and by the administration. it required a study on the impact of privatization on commissaries on military families before a pilot program on privatizing could be implemented and was to look at modifications to the commissary system. now, it also required -- and i'm sending actually for the language right now. i will get it in a minute. it required a comptroller general assessment of the plan no longer than 120 days after submittal of the report. now, here is the situation. the house passed the f.y. 2017 ndaa. it doesn't

mr. president, i really look forward to continuing to move the commerce, justice, science bivment i so much appreciate the chairman of the subcommittee, senator shelby, who we've put together a very good bipartisan bill. we would hope that, as we move our bill forward, that really has done its best to fund the justice department, science and technology, to talk about jobs today and the kind of research that will give us the jobs for tomorrow, that we also now seriously take a deep breath and a deep dive in policy alternatives and come up with a compromise to curb violence in our country. i want to thank the gentlelady from maine once again p for taking that diplomatic role that she's undertaken. i wish her well. i support the colleagues involved in it, and they will find no obstructionism in barbara mikulski. mr. president, i yield the floor. a senator: mr. president? the presiding officer: the senator from kansas. mr. moran: mr. president, first of all, i ask unanimous consent that james kelly, a member of my staff, be granted floor privileges for the remainder of the congress. the presiding officer: without objection. mr. moran: mr. president, tha

shelby: thank you. madam chair, thank you for your participation. i know it's been long. i thank you for you appearing before the committee. the committee is adjourned. mr. capuano: corporation corporation -- [captions copyright national cable satellite corp. 2016] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> and as janet yellin leaves, she will return to capitol hill tomorrow to deliver her annual report to the u.s. house. she'll be testifying before the house financial services committee. she'll answering their questions tomorrow morning starting at tomorrow evening and of course we'll have live coverage on our companion network c-span3. the house returning at 2:00 eastern to begin debate on 22 bills, including funding for v.a. medical facility construction projects and tightening fraud controls among federal agencies. votes after 6:30 eastern today. we'll have live coverage here on c-span. at the same time c-span3 will be live as philadelphia mayor jim kenny talks about ongoing planning for july's democratic national convention. he'll be joined by other hos

mr. speaker, this august body still has work to do to fully restore the voting rights act of 1965 which was gutted by the supreme court in the shelby decision of 2013. i ask my republican colleagues to join the 180 members of the democratic caucus who have sponsored the voting rights advancement act. it is this bill that will give back the enforcement arm of the voting rights act of 1965 and it's up to congress to restore the voting rights act. in memory of emilia boynton robinson i urge my colleagues to not only support the naming of this post office but honor the memory of her and so many of the foot solders' bravery by passing the voting rights enhancement act of 2015. the right to vote is a sacred right, mr. speaker, and no american should be denied access to the ballot box. i thank you and i yield back. the speaker pro tempore: the gentlewoman yields. larns lawrence can you tell me how much time i have left? -- mrs. lawrence: can you tell me how much time i have left? the speaker pro tempore: the gentlelady has 11 1/2 minutes. the gentleman from iowa. mr. blum: i reserve. the speaker pro tempore: the gentlewoman from michigan

mr. shelby: mr. president? the presiding officer: the senator from alabama. mr. shelby: is there a quorum call? the presiding officer: there is a quorum call. mr. shelby: i ask unanimous consent that the quorum call be dispensed with. the presiding officer: without objection. mr. shelby: mr. president, on behalf of the appropriations committee, i withdraw the committee-reported amendment to h.r. 2578. the presiding officer: the amendment is withdrawn. mr. shelby: i offer amendment number 4685, as a committee-reported substitute amendment. the presiding officer: the clerk will report. the clerk: mr. shelby proposes an amendment numbered 4685. mr. shelby: i ask consent that -- unanimous consent that the reading of the allot be dispensed with -- amendment be dispensed with. the presiding officer: without objection. mr. mcconnell: i call up the feinstein amendment number 4720 to the substitute amendment. the presiding officer: the clerk will report. the clerk: the senator from kentucky, mr. mcconnell, fo

mr. shelby: mr. president, i ask unanimous consent that the votes following the first vote in this series be ten minutes in length. the presiding officer: is there objection? without objection, so ordered. the clerk will report the motion to invoke cloture. the clerk: cloture motion. we, the undersigned senators, 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 the mcconnell motion to commit h.r. 2578 to the judiciary committee with instructions, being the murphy amendment number 4750, signed by 17 senators. the presiding officer: by unanimous consent, the mandatory quorum call has been waived. the question is, is it the sense of the senate that debate on the motion to commit h.r. 2578 to the committee on the judiciary with instructions to report back forthwith with amendment number 4750 offered by the senator from kentucky, mr. mcconnell, for the senator from connecticut, mr. murphy, shall be brought to a close. the yeas a