LEGISLATIVE DAY OF DECEMBER 11, 2009
111TH CONGRESS - FIRST SESSION
- 5:38 P.M. -
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The House adjourned pursuant to a previous special order.
The next meeting is scheduled for 12:30 p.m. on December
14, 2009.
On motion to adjourn
Agreed to by voice vote.
Mr. King (IA) moved that the House do now adjourn.
- 3:13 P.M. -
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SPECIAL ORDER SPEECHES - The House has concluded all
anticipated legislative business and has proceeded to
Special Order speeches.
- 3:12 P.M. -
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Mr. Moran (KS) requested the following general leaves to
address the House on December 18: Mr. Poe of TX for 5 min,
Mr. Jones for 5 min, and Mr. Burton of IN for 5 min.
- 3:05 P.M. -
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ONE MINUTE SPEECHES - The House proceeded with further one
minute speeches.
- 3:04 P.M. -
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Mr. Hoyer asked unanimous consent That when the House
adjourns on Friday, December 11, 2009, it adjourn to meet
at 12:30 p.m. on Monday, December 14, 2009, for
Morning-Hour Debate.
Agreed to without objection.
- H.J. Res. 62:
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appointing the day for the convening of the second session
of the One Hundred Eleventh Congress
- 2:33 P.M. -
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Motion to reconsider laid on the table
Agreed to without objection.
On passage
Passed without objection.
Mr. Hoyer asked unanimous consent to consider as
introduced.
Considered by unanimous consent.
- 2:29 P.M. -
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On approving the Journal
Agreed to by voice vote.
- H.R. 4173:
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to provide for financial regulatory reform, to protect
consumers and investors, to enhance Federal understanding of
insurance issues, to regulate the over-the-counter
derivatives markets, and for other purposes
- 2:28 P.M. -
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Motion to reconsider laid on the table
Agreed to without objection.
On passage
Passed by recorded vote: 223 - 202
(Roll no. 968).
- 2:20 P.M. -
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On motion to recommit with instructions
Failed by recorded vote: 190 - 232
(Roll no. 967).
- 2:04 P.M. -
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The previous question on the motion was ordered pursuant to
the rule.
- 1:52 P.M. -
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DEBATE - The House proceeded with 10 minutes of debate on
the Dent motion to recommit with instructions. The
instructions contained in the motion seek to require the
bill to be reported back to the House with an amendment to
repealing the troubled assest relief program.
Mr. Dent moved to recommit with instructions to Financial
Services, Agriculture, Energy and Commerce, Judiciary,
Rules, the Budget, Oversight and Government Reform,
and Ways and Means.
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- 1:50 P.M. -
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The House adopted the amendments en gross as agreed to
by the Committee of the Whole House on the state of the
Union.
The House rose from the Committee of the Whole
House on the state of the Union to report
H.R. 4173.
On agreeing to the Bachus amendment as modified
Failed by recorded vote: 175 - 251
(Roll no. 966).
- 1:43 P.M. -
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On agreeing to the Minnick amendment
Failed by recorded vote: 208 - 223
(Roll no. 965).
- 1:27 P.M. -
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On agreeing to the Schakowsky amendment
Agreed to by recorded vote: 277 - 149
(Roll no. 964).
- 1:17 P.M. -
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On agreeing to the Marshall amendment
Failed by recorded vote: 188 - 241
(Roll no. 963).
- 12:48 P.M. -
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UNFINISHED BUSINESS - The Chair announced that the
unfinished business was on the question of adoption of
amendments which were debated earlier and on which further
proceedings were postponed.
- 12:47 P.M. -
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POSTPONED PROCEEDINGS - At the conclusion of debate on the
Bachus amendment, the Chair put the question on adoption of
the amendment and by voice vote, announced the noes had
prevailed. Mr. Bachus demanded a recorded vote and the Chair
postponed further proceedings on the question of adoption of
the amendment until a time to be announced.
- 12:07 P.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 30 minutes of debate
on the Bachus amendment in the nature of a substitute, as
modified.
Bachus amendment modified by the order of the House
of December 10, 2009.
Amendment in the nature of a substitute offered
by Mr. Bachus.
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An amendment numbered 36 printed in House Report 111-370
to provide an alternative bill that establishes a new
chapter of the bankruptcy code to resolve certain non-bank
financial institutions; creates a consumer protection
council comprised of existing Federal regulators to revise
and promulgate model regulations to enhance consumer protection
and improve disclosure; strengthens anti-fraud provisions;
regulates over-the-counter derivatives markets; addresses
executive compensation; removes statutory reliance on
credit ratings; reforms the Government Sponsored Enterprises
(Fannie Mae and Freddie Mac); and creates a Federal Insurance
Office.
- 12:06 P.M. -
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POSTPONED PROCEEDINGS - At the conclusion of debate on the
Minnick amendment, the Chair put the question on adoption of
the amendment and by voice vote, announced the ayes had
prevailed. Mr. Frank (MA) demanded a recorded vote and the
Chair postponed further proceedings on the question of
adoption of the amendment until a time to be announced.
- 11:31 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 20 minutes of debate
on the Minnick amendment.
Amendment offered by Mr. Minnick.
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An amendment numbered 35 printed in House Report 111-370
to create a Consumer Financial Protection Council (CFPC)
of regulators with rule-writing authority in safety and
soundness of institutions and consumer protections regarding
all financial products. The CFPC is comprised of 12 members
including the Secretary of Treasury, Secretary of Housing
and Urban Development, the Chairman of the Federal Reserve,
the chairman of the CFTC and SEC, among other federal
and state regulators.
- 11:29 A.M. -
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On agreeing to the Peters amendment
Agreed to by recorded vote: 228 - 198
(Roll no. 962).
- 11:21 A.M. -
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On agreeing to the McCarthy (CA) amendment
Failed by recorded vote: 166 - 259
(Roll no. 961).
- 11:14 A.M. -
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On agreeing to the Kanjorski amendment
Failed by recorded vote: 153 - 271
(Roll no. 960).
- 10:47 A.M. -
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UNFINISHED BUSINESS - The Chair announced that the
unfinished business was on the question of adoption of
amendments which were debated earlier and on which further
proceedings were postponed.
The Committee resumed its sitting.
- 10:46 A.M. -
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The House received a message from the Senate. The Senate
passed
H.R. 4165,
H.R. 4217,
and
H.R. 4218.
- H.R. 4173:
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to provide for financial regulatory reform, to protect
consumers and investors, to enhance Federal understanding of
insurance issues, to regulate the over-the-counter
derivatives markets, and for other purposes
- 10:45 A.M. -
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The Committee rose informally to receive a message.
On agreeing to the Kilroy amendment
Agreed to by voice vote.
- 10:33 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 10 minutes of debate
on the Kilroy amendment.
Amendment offered by Ms. Kilroy.
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An amendment numbered 33 printed in House Report 111-370
to make explicit that financing for the Systemic Dissolution
Fund would come exclusively from assessments on industry,
without recourse to the American taxpayer.
POSTPONED PROCEEDINGS - At the conclusion of debate on the
Shakowsky amendment, the Chair put the question on adoption
of the amendment and by voice vote, announced the ayes had
prevailed. Mr. Hensarling demanded a recorded vote and the
Chair postponed further proceedings on the question of
adoption of the amendment until a time to be announced.
- 10:20 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 10 minutes of debate
on the Schakowsky amendment.
Amendment offered by Ms. Schakowsky.
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An amendment numbered 32 printed in House Report 111-370
to provide the Director of the Consumer Financial Protection
Agency with authority to issue regulations for reverse
mortgage transactions within one year of enactment. It
would clarify the Directors authority to consider additional
consumer protections under both consumer protection statutes
and HUD regulations.
- 10:19 A.M. -
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On agreeing to the Garrett (NJ) amendment
Agreed to by voice vote.
- 10:14 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 10 minutes of debate
on the Garrett (NJ) amendment.
Amendment offered by Mr. Garrett (NJ).
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An amendment numbered 26 printed in House Report 111-370
to allow rating agency firms to deregister as Nationally
Recognized Statistical Rating Organizations (NRSRO), provided
such NRSRO certifies that it received less than $250 million
during its last full fiscal year in compensation for providing
credit ratings on securities and money market instruments
issued in the U.S.
- 10:13 A.M. -
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POSTPONED PROCEEDINGS - At the conclusion of debate on the
Marshall amendment, the Chair put the question on adoption
of the amendment and by voice vote, announced the ayes had
prevailed. Mr. Goodlatte demanded a recorded vote and the
Chair postponed further proceedings on the question of
adoption of the amendment until a time to be announced.
- 10:00 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 10 minutes of debate
on the Marshall amendment.
Amendment offered by Mr. Marshall.
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An amendment numbered 19 printed in House Report 111-370
to allow bankruptcy courts to extend repayment periods,
reduce excessive interest rates and fees, and adjust the
principal balance of the mortgage to a home's fair market
value as necessary to prevent foreclosure and revised
to allow the VA, FHA, and RHS to take steps to facilitate
mortgage modifications. The amendment is substantively
identical to title I, subtitle A and sections 121-123
of subtitle B of
H.R. 1106
(Helping Families Save Their
Homes Act of 2009), which passed the House on March 5,
2009.
On agreeing to the Kanjorski amendment
Failed by voice vote.
- 9:49 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 10 minutes of debate
on the Kanjorski amendment numbered 18.
Amendment offered by Mr. Kanjorski.
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An amendment numbered 18 printed in House Report 111-370
to aim to stem the unintended consequences resulting from
the definitional change of NRSRO from Nationally Recognized
Statistical Rating Organization to Nationally Registered
Statistical Rating Organization. Section 6005 creates
inconsistencies in the securities laws as it amends the
definition only in the 1933 and 1934 Acts and it has potential
impact on state rules and regulations requiring a change
of state level statute.
By unanimous consent, the Watt amendment was withdrawn.
- 9:41 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 10 minutes of debate
on the Watt amendment.
Amendment offered by Mr. Watt.
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An amendment numbered 17 printed in House Report 111-370
to revise the exclusion for auto dealers under the Consumer
Financial Protection Agency Act by clarifying what auto
dealer activities are excepted.
- 9:40 A.M. -
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POSTPONED PROCEEDINGS - At the conclusion of debate on the
Peters amendment, the Chair put the question on adoption of
the amendment and by voice vote, announced the ayes had
prevailed. Mr. Hensarling demanded a recorded vote and the
Chair postponed further proceedings on the question of
adoption of the amendment until a time to be announced.
- 9:28 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeded with 10 minutes of debate
on the Peters amendment.
Amendment offered by Mr. Peters.
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An amendment numbered 16 printed in House Report 111-370
to authorize the FDIC to make assessments for the Systemic
Dissolution Fund used to repay any shortfalls in Troubled
Asset Relief Program (TARP) to ensure that such shortfalls
do not add to the deficit or national debt.
On agreeing to the Cohen amendment
Agreed to by voice vote.
- 9:18 A.M. -
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DEBATE - Pursuant to the provisions of H.Res. 964, the
Committee of the Whole proceeeded with 10 minutes of debate
on the Cohen amendment.
- 9:17 A.M. -
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Amendment offered by Mr. Cohen.
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An amendment numbered 15 printed in House Report 111-370
to strike language that would permit FINRA to regulate
investment advisers that are associated with broker dealers.
- 9:16 A.M. -
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The House resolved into Committee of the Whole House on the
state of the Union for further consideration.
- 9:15 A.M. -
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Considered as unfinished business.
- 9:03 A.M. -
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ONE MINUTE SPEECHES - The House proceeded with one minute
speeches, which by direction of the Chair would be limited
to 5 per side of the aisle.
- 9:02 A.M. -
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PLEDGE OF ALLEGIANCE - The Chair designated Mr. Lance to
lead the Members in reciting the Pledge of Allegiance to
the Flag.
POSTPONED PROCEEDINGS - The Chair announced that she had
examined the Journal of the last day's proceedings and had
approved it. Mr. Klein (FL) demanded that the question be
put on agreeing to the approval of the Journal and by voice
vote, the Chair announced that the ayes had prevailed. Mr.
Klein (FL) objected to the voice vote based upon the absence
of a quorum and the Chair postponed further proceedings on
the question of agreeing to the approval of the Journal
until later in the legislative day. The point of no quorum
was considered as withdrawn.
- 9:01 A.M. -
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Today's prayer was offered by the House Chaplain, Rev.
Daniel Coughlin.
- 9:00 A.M. -
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The Speaker designated the Honorable Donna F. Edwards to
act as Speaker pro tempore for today.
The House convened, starting a new legislative day.
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