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House Proceeding on Feb 28th, 2007 :: 1:52:23 to 1:58:11
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Barney Frank

1:50:28 to 1:52:23( Edit History Discussion )
Speech By: Barney Frank

Barney Frank

1:52:09 to 1:52:23( Edit History Discussion )

Barney Frank: committee of financial services said it has strong bipartisan support. it enjoys the kind of support that motherhood and apple pie enjoy. there is no controversy to this bill whatsoever. the

Joseph Crowley

1:52:23 to 1:52:33( Edit History Discussion )

Joseph Crowley: gentleman from new york said we are now passing an open rule for the second time in the 110th congress, doubling the record we had in the 109th congress when it came to open rules. but the true

Joseph Crowley

1:52:23 to 1:58:11( Edit History Discussion )
Speech By: Joseph Crowley

Joseph Crowley

1:52:33 to 1:52:43( Edit History Discussion )

Joseph Crowley: test will come -- the true test will come when we're dealing with a controversial issue that does not enjoy strong bipartisan support. that's where this madisonian vision of a clash of ideas

Joseph Crowley

1:52:43 to 1:52:56( Edit History Discussion )

Joseph Crowley: is important, mr. speaker. and so i hope very much that as we bring measures, both of which in the 110th congress were passed by unanimous votes in the 109th congress to the floor, and we're

Joseph Crowley

1:52:56 to 1:53:09( Edit History Discussion )

Joseph Crowley: very proud of the fact that they're being considered under open rule, i hope that we can do everything we possibly can to ensure that debates like the one that we had two weeks ago on the issue

Joseph Crowley

1:53:09 to 1:53:19( Edit History Discussion )

Joseph Crowley: of iraq are considered under a process that will allow maybe a chance for the minority to consider a substitute or a process that would, again, bring that clash of ideas. because it's

Joseph Crowley

1:53:19 to 1:53:35( Edit History Discussion )

Joseph Crowley: very clear. there was complete agreement on the fuels bill that we dealt with two weeks ago under an open rule. extraordinarily strong bipartisan support. there is complete agreement on cfius.

Joseph Crowley

1:53:35 to 1:53:48( Edit History Discussion )

Joseph Crowley: there will be amendments that will be considered here under the open amendment process. but at the end of the day, republicans and democrats will come together in support of this. the true

Joseph Crowley

1:53:48 to 1:54:00( Edit History Discussion )

Joseph Crowley: test, mr. speaker, will be whether or not we take up a measure where there is strong, vigorous disagreement on the part of our members. but i will say that we need to recognize that the

Joseph Crowley

1:54:00 to 1:54:13( Edit History Discussion )

Joseph Crowley: two most important issues that we face as members of this institution are the issues of first and foremost, our national security and, second, ensuring that we create economic opportunity for all americans

Joseph Crowley

1:54:13 to 1:54:24( Edit History Discussion )

Joseph Crowley: and maintain the strong bull dynamic growth that we have in our economy. now this measure that we're addressing today actually addresses both issues, mr. speaker. it will strengthen the process

Joseph Crowley

1:54:24 to 1:54:39( Edit History Discussion )

Joseph Crowley: by which our national security stakeholders in the administration, from the defense department to the national security agency, review and investigate foreign investors in the u.s. economy. it focuses

Joseph Crowley

1:54:39 to 1:54:51( Edit History Discussion )

Joseph Crowley: in particular on those companies that are controlled by foreign governments or are based in countries that support terrorism. these are commonsense reforms that, again, enjoy strong bipartisan

Joseph Crowley

1:54:51 to 1:55:03( Edit History Discussion )

Joseph Crowley: support, that will provide an adequate level of scrutiny to ensure that no investment poses a national security threat to our interest. however, it also ensures a process that while thorough is not

Joseph Crowley

1:55:03 to 1:55:15( Edit History Discussion )

Joseph Crowley: prohibitive. this legislation is a reflection for the need of a review process that does not close us off to the vital foreign investment that is a major source of our economic strength. and

Joseph Crowley

1:55:15 to 1:55:27( Edit History Discussion )

Joseph Crowley: i again praise the distinguished chair of the committee on financial services who last night in the rules committee talked about the importance of foreign direct investment. f.d.i. is very important

Joseph Crowley

1:55:27 to 1:55:36( Edit History Discussion )

Joseph Crowley: to us, and if we look at our economic growth, there is a strong, strong reliance that we've had. because national security underpins economic -- economic security underpins national security, it

Joseph Crowley

1:55:36 to 1:55:52( Edit History Discussion )

Joseph Crowley: is absolutely imperative that we work to ensure that our economy remains the world's best place to invest and do business. now, mr. speaker, some numbers that not everyone is familiar with.

Joseph Crowley

1:55:52 to 1:56:04( Edit History Discussion )

Joseph Crowley: they currently employ 5.3 million americans in the united states. we learned of a toyota plant that will be opening in tupelo, mississippi. it's important to note that those foreign investors

Joseph Crowley

1:56:04 to 1:56:15( Edit History Discussion )

Joseph Crowley: who employ 5.3 million americans actually pay wage rates that are 50% higher, 50% higher than the average wage paid here in the united states. companies like toyota, siemons, come to the united

Joseph Crowley

1:56:15 to 1:56:31( Edit History Discussion )

Joseph Crowley: states in order to tap into our pourful market, innovative environment and superior workforce. in the process they generate greater economic activity, create high paying jobs and improve our standard

Joseph Crowley

1:56:31 to 1:56:43( Edit History Discussion )

Joseph Crowley: of living. and we have enjoyed these benefits, mr. speaker, because of the openness, strength and dynamism of the u.s. economy. now we must recognize that to close off our economy to the world's

Joseph Crowley

1:56:43 to 1:57:04( Edit History Discussion )

Joseph Crowley: investors would be to close ourselves off to the prosperity and opportunities that we have long enjoyed as the world's best investment. . we cannot lose sight of the fact that we have prospered not

Joseph Crowley

1:57:04 to 1:57:20( Edit History Discussion )

Joseph Crowley: in spite of but because of our nation's openness. i believe that this bill charts a smart path that preserves both national security and our ability to attract investment and grow our economy.

Joseph Crowley

1:57:20 to 1:57:33( Edit History Discussion )

Joseph Crowley: my colleagues, as i said, all agree with me and we have been through this process before as i said in the 109th congress. the bill that was passed in the last congress was sponsored by

Joseph Crowley

1:57:33 to 1:57:44( Edit History Discussion )

Joseph Crowley: our colleague from missouri, the distinguished minority whip, mr. blunt. mr. speaker, this legislation which is virtually identical to the bill that we are considering today, was considered by

Joseph Crowley

1:57:44 to 1:57:56( Edit History Discussion )

Joseph Crowley: an overwhelming unanimous bipartisan vote. personally i would very much like to see these good, well crafted, utterly noncontroversial bills where they belong, that's on the suspension calendar,

Joseph Crowley

1:57:56 to 1:58:11( Edit History Discussion )

Joseph Crowley: as we passed it quickly, expeditiously in the last congress. but the fact of the matter is where we are where we are, mr. speaker. it's important for us to recognize our priorities of

Roy Blunt

1:58:11 to 1:58:20( Edit History Discussion )

Roy Blunt: national security, number one, and number two, our economic strength in making sure that we expand that economic growth. i urge support of this rule and the underlying legislation. with

Roy Blunt

1:58:11 to 1:59:12( Edit History Discussion )
Speech By: Roy Blunt

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