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House Proceeding on Feb 28th, 2007 :: 5:28:00 to 5:36:05
Total video length: 10 hours Stream Tools: Stream Overview | Edit Time

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Marsha Blackburn

5:24:21 to 5:28:00( Edit History Discussion )
Speech By: Marsha Blackburn

Marsha Blackburn

5:27:48 to 5:28:00( Edit History Discussion )

Marsha Blackburn: is recognized for five minutes. >> in short conclusion and i think we are ready to move on. but it is a healthy debate. the relevance of jobs and national security, the relevance of our

Jeb Hensarling

5:28:00 to 5:28:17( Edit History Discussion )

Jeb Hensarling: taxation policies and our economic policies and regulatory policies and our economic security is directly -- does directly impact our national security in this country. i fully support the underlying

Jeb Hensarling

5:28:00 to 5:36:05( Edit History Discussion )
Speech By: Jeb Hensarling

Jeb Hensarling

5:28:17 to 5:28:33( Edit History Discussion )

Jeb Hensarling: bill. it is needed legislation and it's a great piece of legislation. i commended the chairman and ranking member for this bill in response to the dubai ports issue. but again, i don't think we

Jeb Hensarling

5:28:33 to 5:28:51( Edit History Discussion )

Jeb Hensarling: can look at this. and why would we want this information in the congress? why wouldn't we want information -- it's our taxation policy or regulatory burden. does that impact on foreign investment.

Jeb Hensarling

5:28:51 to 5:29:10( Edit History Discussion )

Jeb Hensarling: why wouldn't we want that information in the congress? wouldn't we want to know whether foreign investment impacts jobs in this country. i would argue that's a healthy examination that is useful

Jeb Hensarling

5:29:10 to 5:29:27( Edit History Discussion )

Jeb Hensarling: information for the congress in examining our economic viability as a superpower, our economic security in this country, which, again is a national security issue. and i yield back. mr. burton:

Jeb Hensarling

5:29:27 to 5:29:49( Edit History Discussion )

Jeb Hensarling: yield back my time. the chairman: the gentlewoman from texas. what reason does she rise? ms. jackson lee: strike the last word. let me thank chairman franks for the heavy lifting that has

Jeb Hensarling

5:29:49 to 5:30:03( Edit History Discussion )

Jeb Hensarling: been done. i rise to support h.r. 556 and in the course of it, let me try to remind my colleagues why we got here. i think the incident involving the dubai port was not only a shock to

Jeb Hensarling

5:30:03 to 5:30:20( Edit History Discussion )

Jeb Hensarling: the very fine financial services committee but a shock to homeland security and shock to america. and the focus wasn't around i don't want foreign investments but around, you mean we were exposed

Jeb Hensarling

5:30:20 to 5:30:41( Edit History Discussion )

Jeb Hensarling: to potential terrorist activity or control. some of the suggestions and allegations were probably far blown, because people are fearful. and that is why we have come together to work on these issues

5:30:41 to 5:30:57( Edit History Discussion )

from a collective financial services perspectives on the cfius committee is the secretary of commerce, secretary of homeland security. so therefore these diverse issues can be addressed.

5:30:57 to 5:31:11( Edit History Discussion )

i rise to support h.r. 556 because of one particular reason. there is transparency. there is no more of a shock value. now across america, we are selling ropes. we don't know what else we may

Jeb Hensarling

5:31:11 to 5:31:27( Edit History Discussion )

Jeb Hensarling: be selling. we may be selling doors to banks as it relates to foreign investment. not that we disagree, but we want it to be balanced. the way the bill has been constructed, one, there

Jeb Hensarling

5:31:27 to 5:31:39( Edit History Discussion )

Jeb Hensarling: is a wide diversity of responsibility, including the secretaries of treasury, homeland security, commerce, state, energy. attorney general, chair of the council of economic advisors, u.s. trade

Jeb Hensarling

5:31:39 to 5:31:55( Edit History Discussion )

Jeb Hensarling: representative, director of office of management and budget and the directors of the office of science and technology policy, i can't imagine a more inclusive group to be able to make an

Jeb Hensarling

5:31:55 to 5:32:09( Edit History Discussion )

Jeb Hensarling: assessment, one of protecting us which is the real question that america has asked us, who is at my backs door, and also not to reject legitimate, forthright and job creating opportunity.

Jeb Hensarling

5:32:09 to 5:32:26( Edit History Discussion )

Jeb Hensarling: in the transaction process that has been laid out by this bill, it is a study in thoughtfulness. and i think it will work. transaction involves a foreign investment -- this determination will be

Jeb Hensarling

5:32:26 to 5:32:39( Edit History Discussion )

Jeb Hensarling: assessed, whether the transaction involves a foreign controlled entity, whether the transaction threatens impair national security and the review cannot mitigate the concerns. the national intelligence

Jeb Hensarling

5:32:39 to 5:32:59( Edit History Discussion )

Jeb Hensarling: director identifies concerns and cfius could not agree. any one member votes approving the transaction. so one entity, it may be commerce, may be homeland security, can raise a concern about

Jeb Hensarling

5:32:59 to 5:33:15( Edit History Discussion )

Jeb Hensarling: this transaction. this is, i think, a fast action on a matter that could not be addressed and did not get addressed in the last congress. but we're here today, talking about ways of securing

Jeb Hensarling

5:33:15 to 5:33:35( Edit History Discussion )

Jeb Hensarling: america and working financially and business-wise with the various constituency that would be impacted. i find this as a wonderful first step, coming from the state of texas, i can assure you,

Jeb Hensarling

5:33:35 to 5:33:48( Edit History Discussion )

Jeb Hensarling: there is a lot of busyness about selling roads. and it raises its head of concern. and i raised the point do we put making money over security. i believe that we have made a very important first

Jeb Hensarling

5:33:48 to 5:34:05( Edit History Discussion )

Jeb Hensarling: step to strengthen this process of recognizing the balance. my subcommittee on this question looks forward to hearing after the fact on the actual practical aspects of the selling of infrastructure

Jeb Hensarling

5:34:05 to 5:34:20( Edit History Discussion )

Jeb Hensarling: in the united states. but we now have a body of thought through h.r. 556, which we can use as a form of study and relief. so in conclusion, let me again thank the sponsors of this bill.

Jeb Hensarling

5:34:20 to 5:34:36( Edit History Discussion )

Jeb Hensarling: i'm a co-sponsor as well. but the chairman and ranking member and also for moving this swiftly and quickly and answering the question of both transparency, jobs and security. might i say

Jeb Hensarling

5:34:36 to 5:34:54( Edit History Discussion )

Jeb Hensarling: security being number one. i yield back. the chairman: gentlelady yields back. the question is on the amendment offered by the the gentleman from texas. those in favor say aye. those opposed,

Jeb Hensarling

5:34:54 to 5:35:14( Edit History Discussion )

Jeb Hensarling: no. in the opinion of the chair, the nos have it. mr. mccaul: mr. chairman, i request a recorded vote. the chairman: pursuant to clause 6, rule 18, further proceedings on the amendment

Jeb Hensarling

5:35:14 to 5:35:29( Edit History Discussion )

Jeb Hensarling: offered by the gentleman from texas will be postponed. the gentleman from -- >> i rise in support of h.r. 556. this bill will make national security an important factor in foreign business transactions.

Jeb Hensarling

5:35:29 to 5:35:43( Edit History Discussion )

Jeb Hensarling: lastier's news that the government of the united arab emirates shocked many americans and alarmed us here in congress as well, even though the united arab emirates is a close and respected

Jeb Hensarling

5:35:43 to 5:36:05( Edit History Discussion )

Jeb Hensarling: ally. congress came to understand that the committee on foreign investment in the united states or cfius process is broken. this process by which the united states sells property and assets

Marsha Blackburn

5:36:05 to 5:36:21( Edit History Discussion )

Marsha Blackburn: to a foreign entity is not fully disclosed, has no congressional oversight and merely glances at the national security implications before a decision is made. today, we are working on passing

Marsha Blackburn

5:36:05 to 5:41:15( Edit History Discussion )
Speech By: Marsha Blackburn

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