mrs. capito: mr. speaker, i ask unanimous consent that all members may have five -- the speaker pro tempore: the gentlelady will suspend. the house will be in order. the house will be in order. the gentlelady from west virginia. mrs. capito: mr. speaker, i ask unanimous consent that all members may have five legislative days within which to revise and extend their remarks on h.r. 1315 and to insert extraneous material thereon. the speaker pro tempore: without objection. mrs. capito: pursuant to house resolution 358 and rule 18, the chair declares the house -- oh, that's you, not me. the speaker pro tempore: pursuant to house resolution 358 and rule 18, the chair declares the house in the committee of the whole house on the state of the union for consideration of h.r. 1315. the chair appoints the gentleman from texas, mr. poe, to preside over the committee of the whole. the chair: the house is in the committee of the whole house on the state of the union for consideration of h.r. 1315 which the clerk w

mrs. capito: thank you, mr. chairman. and i think i understand the gentleman's amendment, the gentleman from north carolina's amendment. but i would like to just start in the five minutes that i have to remind everybody who is on the council that is going to be able to allow sleazey financial products to go forward to save the safety and soundness of an institution. that's what the gentleman said. so we've got the secretary of the treasury, we have the chairman of the federal reserve, the director of the cfpb who is the person who is making the regulations, chairman of the fdic, comptroller of the currency, chairman of the ncua, chairman of the s.e.c., chairman of the cftc, director of the fhsa and an insurance representative. that's 10 people. professional regulators that are working in certain areas of the financial markets and are overseeing our financial stability. . it's not tom, dick and harry deciding whether a sleazy provision should go forward. and i think in order to convince these folks or to put your argument

mrs. capito: i would like to recognize mr. garrett, chairman of the capital markets subcommittee for two minutes. the chair: the gentleman is recognized for two minutes. mr. garrett: i congratulate the good work done by the chairman of the full committee and the chairman of the subcommittee and the gentleman from wisconsin for a common zhrep sense piece of legislation. and he said something like we didn't make this partisan, they did it. i remind the chairman that his underlying piece of legislation, the dodd-frank legislation had more democrats vote against it than it had republicans for it and he pushed through a bill in extremely partisan manner and that's why we are here today. i believe that the agency we're talking about is really a one-stop-shop to allocate credit and give the government the power to control the economy and at the same time they are talking about consumer protection, what are they doing? they are separating safety and soundness from it. how can you have consumer protection when separating safety and sou

mrs. capito: no, i will not. i say to myself, what kind of priority is this administration putting on this markey part of the dodd-frank bill? now i'd like to yield to mr. hensarling, our vice chair. the chair: the gentleman from texas is recognized for three minut. mr. hensarling: i thank the gentlelady for yielding. i thank her for her leadership on this issue. mr. chairman, already we know that in america we are looking at 9.2% unemployment. since the president told us if we would pass his stimulus plan, $1 trillion, unemployment would never go beyond 8% and now he is preding over the longest period of high unemployment since the great depression. we just got the statistics since they've been keeping them, it now takes almost 10 full months for somebody unemployed to find a job. one in seven on food stamps. the fewest new business starts in 17 years. this economy is not suffering so much from a lack of capital, it is a lack of confidence and a lack of confidence primarily in the policies of our president and th

mrs. capito: no, i will not. i say to myself, what kind of priority is this administration putting on this markey part of the dodd-frank bill? now i'd like to yield to mr. hensarling, our vice chair. the chair: the gentleman from texas is recognized for three minutes. mr. hensarling: i thank the gentlelady for yielding. i thank her for her leadership on this issue. mr. chairman, already we know that in america we are looking at 9.2% unemployment. since the president told us if we would pass his stimulus plan, $1 trillion, unemployment would never go beyond 8% and now he is presiding over the longest period of high unemployment since the great depression. we just got the statistics since they've been keeping them, it now takes almost 10 full months for somebody unemployed to find a job. one in seven on food stamps. the fewest new business starts in 17 years. this economy is not suffering so much from a lack of capital, it is a lack of confidence and a lack of confidence primarily in the policies of our president an

mrs. capito: i have an amendment at the desk. the clerk: amendment number 3 printed in house report 112-144 you are aed by mrs. capito of west virginia. the chair: pursuant to house resolution 347, the gentlewoman from west virginia, mrs. capito, and a member opposed will each control five minutes. the chair recognizes the gentlewoman from west virginia. mrs. capito: thank you, mr. chairman. i'd like to thank the chairman on my subcommittee, mr. gibbs, for his leadership on this issue. my amendment is a simple reaction to conversations that i've had with the administrator and others at the e.p.a. and also the president of the united states. in questioning the president i said, mr. president, when you're going forth on your rules and regulations at the e.p.a. do you consider a job and economic impact? and he said, we should. and i say we should and that's the purpose of my amendment. this requires the e.p.a. to analyze the impact on jobs and economic impact prior to issuing a regulation, policy st

amendment number 3 by mrs. capito of west virginia. amendment number 5 by mr. polis of colorado. amendment number 6 by mr. connolly of virginia. amendment number 9 by mr. blumenauer of oregon. amendment number 10 by mr. carnahan of missouri. amendment number 1 by ms. jackson lee of texas. the chair will reduce to two minutes the minimum time for any electronic vote after the first vote in this series. the unfinished business is the request for a recorded vote on amendment number 2 printed in house report 112-144 by the gentlelady from texas, ms. jackson lee, on which further proceedings were postponed and on which the noes prevailed by voice vote. the clerk will redesignate the amendment. the clerk: amendment number 2 printed in house report 112-144 offered by ms. jackson lee of texas. the chair: a recorded vote has been requested. those in support of the request for a recorded vote will rise and be counted. a sufficient number having arisen, a recorded vote is ordered. members will record their votes by electronic device. this is a 15-minute vote. [captioning made possible by th

mrs. capito: thank you, madam chair. i rise in support of the legislation that is before us today, to reform the national flood insurance program. i'd like to thank the gentlelady from illinois, mrs. biggert, and ms. waters, for their hard work to bring forth a bipartisan bill which addresses many of the concerns to a program hampered by extraordinary losses and currently facing about $18 billion of debt. h.r. 1309 provides a long-term extension of the national flood insurance program but it makes significant -- it makes a significantly indebted program more fiscally sound. a five-year re-authorization will give the certainty that is needed to a program that has been without it for the past two years. . when more than five million policy holders depend on it for financial security against flooding. unless congressional action is taken on september 30, 2011, these policy holders will begin to be again in danger of losing protection. unfortunately the persistence subsidized rates for properties in high risk areas has left

waters, mrs. capito, mr. garrett, mr. dold, mr. stivers who are original co-sponsors of this bipartisan bill. i urge my colleagues to support the rule for h.r. 1309 and yield back the balance of my time. the speaker pro tempore: the gentlelady yields back. the gentleman from massachusetts. mr. mcgovern: thank you, mr. speaker. at this time i'd like to yield four minutes to the gentlewoman from california, ms. matsui. the speaker pro tempore: the gentlelady from california is recognized for four minutes. ms. matsui: thank you very much, mr. speaker. mr. speaker, i rise in support of h.r. 1309, the national flood insurance reform act of 2011. a full five-year re-authorization of the program is critically important for our nation. i want to thank and commend chairwoman biggert and ranking member waters for their leadership on this issue. ushering in a five-year re-authorization will provide welcomed relief for those who live in our country's floodplains. i thank chairwoman biggert for including language from my own, h.r. 902, legislat

mrs. capito: thank you. mr. speaker, we're broke. everyone from the small business person to s&p 500 is looking to washington to solve this mess. we have a responsibility to demonstrate that we can responsibly raise the debt ceiling by changing the way washington treats the taxpayers' dollars. the reason we're in over our heads is not because we're taxed too little, it's because we spend too much. the bill before us today, cut, cap andalance, is a tangible idea that demonstrates we have to pay our billshile making sure our future credit card statements are not budget-busting. if we want to protect our seniors and grandchildren, encourage small business and create jobs and safeguard the american dream, we need to get our economy back on track. that starts with living within our means. it's about time. the speaker pro tempore: the gentlelady yields back the balance of her time. the ntleman from maryland. mr. van hollen: mr. speaker, i reserve. the speaker pro tempore: the gentleman reserves. the gentleman from ohio. mr. jordan: mr. spe

mrs. capito: thank you. mr. speaker, we're broke. everyone from the small business person to s&p 500 is looking to washington to solve this mess. we have a responsibility to demonstrate that we can responsibly raise the debt ceiling by changing the way washington treats the taxpayers' dollars. the reason we're in over our heads is not because we're taxed too little, it's because we spend too much. the bill before us today, cut, cap and balance, is a tangible idea that demonstrates we have to pay our bills while making sure our future credit card statements are not budget-busting. if we want to protect our seniors and grandchildren, encourage small business and create jobs and safeguard the american dream, we need to get our economy back on track. that starts with living within our means. it's about time. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentleman from maryland. mr. van hollen: mr. speaker, i reserve. the speaker pro tempore: the gentleman reserves. the gentleman from ohio. mr. jordan: m

week, my friends, we're going to be spending a whole week addressing the question of a bill called mrs. capito: -- cut, cap and balance. and before i address to you who will be hurt on cut, cap and balance, the amendment that came out of the judiciary committee, i just want to you know that every state can stand up here and say that, but i want to put it in the record that it's come to my attention that social security beneficiary ears in texas, over three million, likely will be impacted. total number of social security beneficiaries in harris county, that's where houston, texas, the fourth largest city of the nation, a very diverse city, 429,760. social security beneficiaries. which might include s.s.i. which is for those who are in need of moneys because their children or they're disabled. 780,000 seniors and individuals with disabilities in the metro area that are currently enrolled in medicare, the lifeline of our seniors. and currently 145,000 individuals in the district, the 18th congressional district, that have been -- that are on medicaid. and it's interesting to note that the medica

mrs. capito: thank you. mr. speaker, we're broke. everyone from the small business person to s&p 500 is looking to washington to solve this mess. we have a responsibility to demonstrate that we can responsibly raise the debt ceiling by changing the way washington treats the taxpayers' dollars. the reason we're in over our heads is not because we're taxed too little, it's because we spend too much. the bill before us today, cut, cap and balance, is a tangible idea that demonstrates we have to pay our bills while making sure our future credit card statements are not budget-busting. if we want to protect our seniors and grandchildren, encourage small business and create jobs and safeguard the american dream, we need to get our economy back on track. that starts with living within our means. it's about time. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentleman from maryland. mr. van hollen: mr. speaker, i reserve. the speaker pro tempore: the gentleman reserves. the gentleman from ohio. mr. jordan: m

mrs. ellmers: thank you so much. i'd like to yield now to the gentlelady from west virginia, ms. moore capito. mrs. capito: thank you. i'd like to thank my colleagues here today for the opportunity to talk about something that is extremely important to every woman in america, every person in america. it's really not a man or a woman thing or a child or a grandparent thing, it's all of us. and so i look at things a lot of times, i think like a lot of people. i kind of try to put my own life filter over what's going on here. and i have elderly parents who are having some bumpy roads with their health and i just today for the very first time had my only and most beautiful granddaughter with me today on the house floor. and i realized, she has $45,000 worth of national debt on her head and then i think about my parents trying to manage their health care, manage their finances in their senior years, have they prepared enough, did they make the right choices? and i think about all of that in between generation of which i am and i know that we want to make the right choices for ourselves, too so, that when

mrs. capito: if west virginiaians are wondering about one thing it's why the president isn't doing more to lower energy costs and get our cupry back on track. america is truly blessed to have an inabun daunt supply of natural resources. frankly, i'm stunned as to why the president hasn't connected that a good, solid jobs plan is a good, solid energy plan. last month, a.e.p. announced it will shout down plants in ohio, west virginia, and ohio, costing jobs, payroll, and raising electricity 15%. this is a direct response to new and burdensome regulations levied by the e.p.a. in the last year. it's time to take vng of the resources found here in america. doing so will launch our economy in the right direction and create thousands of good-paying jobs. the speaker pro tempore: the gentlewoman's time has expired. for what purpose does the gentlewoman from north carolina rise? >> to address the house for one minute and request permission to revise and extend my remarks. the speaker pro tempore: without

mr. pierce. >> director division of consumer protection fdic. welcome. >> thank you, chairman capito, chairman of neugebauer, ranking members maloney and members of the subcommittee. thank you for the opportunity to testify behalf on the -- fdic on the need to evers, a result the challenges in mortgage servicing. the issues involved continue to impact the housing market. the bar was in communities across the nation. as you know, the fdic is not the primary federal regulator of the largest financial institutions and mortgage servicers where the major servicing and foreclosure deficiencies have been found. nevertheless, as the insurer of deposits of these institutions, we remain concerned about the potential ramifications of these not only on these institutions, but on the housing and mortgage market overall. last fall in the wake of allegations of the signing, the primary federal regulators and face defeat coincided the fdic to participate in the interagency review of the foreclosure practices, of the 14 largest mortgage servicers. these identify significant deficiencies in the forecl