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House Proceeding on Feb 28th, 2007 :: 5:14:29 to 5:22:55
Total video length: 10 hours Stream Tools: Stream Overview | Edit Time

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Marsha Blackburn

5:12:46 to 5:14:29( Edit History Discussion )
Speech By: Marsha Blackburn

Marsha Blackburn

5:14:10 to 5:14:29( Edit History Discussion )

Marsha Blackburn: by the gentleman from texas. those in favor say aye. those opposed, no. in the opinion of the chair, the noes have it. mr. mccaul: mr. chairman, i request a recorded vote. the chairman: pursuant

Jeb Hensarling

5:14:29 to 5:14:47( Edit History Discussion )

Jeb Hensarling: to clause 6 of rule 18, further proceedings on the amendment offered by the gentleman from texas, will be postponed. the gentleman from texas. mr. mccaul: mr. chairman, i have an amendment at the

Jeb Hensarling

5:14:29 to 5:22:55( Edit History Discussion )
Speech By: Jeb Hensarling

Jeb Hensarling

5:14:47 to 5:15:02( Edit History Discussion )

Jeb Hensarling: desk. the chairman: the clerk will designate the amendment. the clerk: amendment number 7 offered by mr. mccaul of texas. the chairman: the gentleman is recognized for five minutes. mr. mccaul:

Jeb Hensarling

5:15:02 to 5:15:20( Edit History Discussion )

Jeb Hensarling: mr. chairman, i rise today in support of this amendment which requires the secretary of the treasury to include in his reported information on the net effect of foreign investment on american

Jeb Hensarling

5:15:20 to 5:15:35( Edit History Discussion )

Jeb Hensarling: jobs. i support the underlying bill. this improves our oversight capability and gives us the . there are barriers to foreign investment today, and i do believe it is appropriate in this legislation

Jeb Hensarling

5:15:35 to 5:15:48( Edit History Discussion )

Jeb Hensarling: because this is the committee for investment -- for foreign investment in the united states to look to see there are not barriers to that foreign investment, which is chilling those investments

Jeb Hensarling

5:15:48 to 5:16:05( Edit History Discussion )

Jeb Hensarling: that are so important for the economy. for that reason, i'm supported the gentleman's amendment. now i do want to say, not about the gentleman's amendment, and i rise to take this time at this time.

Jeb Hensarling

5:16:05 to 5:16:22( Edit History Discussion )

Jeb Hensarling: we in the cfius bill, as it moves forward, have got to resist the temptation to load this bill up like a christmas tree. and i'm not talking about the gentleman from texas' legislation. because

Jeb Hensarling

5:16:22 to 5:16:36( Edit History Discussion )

Jeb Hensarling: if we -- every requirement that we put on foreign investment has a tendency to alienate those making those foreign investments. and most of the time they are our allies. in fact, even with the

Jeb Hensarling

5:16:36 to 5:16:56( Edit History Discussion )

Jeb Hensarling: port of dubai, dubai is one of our strongest allies in the middle east. and anyone that thinks that that transaction and in terminating that transaction is not without risk in the middle east is

Jeb Hensarling

5:16:56 to 5:17:14( Edit History Discussion )

Jeb Hensarling: simply naive. because we took a country that welcomes our armed forces and is one of our strongest allies and we basically told them, we don't trust you. that's a problem. . alienating won's

Jeb Hensarling

5:17:14 to 5:17:30( Edit History Discussion )

Jeb Hensarling: allies and scaring away investors, as this bill moves forward, my point is national security and foreign investment are not mutually exclusive. we can have both, but we should not use this mantra

Jeb Hensarling

5:17:30 to 5:17:49( Edit History Discussion )

Jeb Hensarling: of national security to undermine our economy, whether it's through cifius process that foreign investors throw up their hands and walk away from to our detriment or through regulations over excessive

Jeb Hensarling

5:17:49 to 5:18:03( Edit History Discussion )

Jeb Hensarling: taxation, because this money is going to go into competitive markets. so i thank the gentleman from texas and the gentleman from massachusetts are both right and we need to take serious

Jeb Hensarling

5:18:03 to 5:18:24( Edit History Discussion )

Jeb Hensarling: look at anything which says to foreign investors, which you are basically financing our economy today, anything we say to them has a chilling effect. and with that, i yield back. the chairman:

Jeb Hensarling

5:18:24 to 5:18:40( Edit History Discussion )

Jeb Hensarling: gentleman yields back his time. the gentleman is yielding? mr. bachus: i yield the balance of my time to the gentleman from texas. mr. mccaul: this is a healthy discussion and debate. this bill

Jeb Hensarling

5:18:40 to 5:18:57( Edit History Discussion )

Jeb Hensarling: is about foreign investment. this bill requires -- it's a reporting requirement. i think a sound request to the contrary on -- as the gentleman stated, on what are the barriers in this country

Jeb Hensarling

5:18:57 to 5:19:19( Edit History Discussion )

Jeb Hensarling: to foreign investment. it's hard for me to completely dissect our economic security and viability from one of national security, which is apparently what the gentleman from massachusetts is

Jeb Hensarling

5:19:19 to 5:19:36( Edit History Discussion )

Jeb Hensarling: attempting to do. i think they go hand in hand. we need to look at our ability to compete globally in this country and we are talking about national security. when we talk about that issue,

Jeb Hensarling

5:19:36 to 5:19:55( Edit History Discussion )

Jeb Hensarling: we have to look and examine our taxation and regulation policies in this country. and we have to look at the impact that these investments are having on jobs in this country. it's hard to

Jeb Hensarling

5:19:55 to 5:20:06( Edit History Discussion )

Jeb Hensarling: tell the american people that their job is not an area of importance. it is important to our economic viability and security, and i would argue -- i know the gentleman agrees, but it is important

Jeb Hensarling

5:20:06 to 5:20:25( Edit History Discussion )

Jeb Hensarling: to our national security. and i yield. the chairman: gentleman yields back his time. the gentleman from new york. the gentleman from massachusetts. mr. frank: the suggestion that i said jobs

Jeb Hensarling

5:20:25 to 5:20:43( Edit History Discussion )

Jeb Hensarling: aren't important is silly. of course jobs are important. the war in iraq is important. global warming is important. they all go in the same bill. the gentleman's inability to distinguish between

Jeb Hensarling

5:20:43 to 5:21:01( Edit History Discussion )

Jeb Hensarling: what is important and what you are trying to accomplish in this specific piece of legislation is disappointing, although it does not reach the level of the threat to national security. mr.

Jeb Hensarling

5:21:01 to 5:21:19( Edit History Discussion )

Jeb Hensarling: crowley: can anyone argue that investment in the united states does not create jobs? this is what this is about, encouraging foreign investment in helping to create jobs in the united states. how

Jeb Hensarling

5:21:19 to 5:21:31( Edit History Discussion )

Jeb Hensarling: the job market is touched in some way by the cifius process by allowing for direct foreign investment is, i'm sure, an issue that someone may have some desire to know more about. but that

Jeb Hensarling

5:21:31 to 5:21:47( Edit History Discussion )

Jeb Hensarling: is not the role of cfius. that is the role -- i'll yield in a moment -- that is the role of the commerce department to do those kinds of studies. let them spend the time. let's not divert the

Jeb Hensarling

5:21:47 to 5:22:00( Edit History Discussion )

Jeb Hensarling: attention of cfius, which is to allow for a steady stream of flow of direct foreign investment in the united states and at the same time, checking the national security security interests

Jeb Hensarling

5:22:00 to 5:22:15( Edit History Discussion )

Jeb Hensarling: of our country, making sure that state-owned businesses that are entering into direct foreign investment in the united states are not in some way compromising our national security. that those

Jeb Hensarling

5:22:15 to 5:22:55( Edit History Discussion )

Jeb Hensarling: making investments in the united states are not compromising our national security. that's the role of cfius. it's not for them to become the commerce department. they have a role as well.

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