Time Is Running Out (Cong. Rec., Dec. 9, 2020)

Summary

This is page H7054 of the Congressional Record, House, December 9, 2020, carrying one-minute-style speeches. Mr. Blumenauer says time is running out for America's 500,000 independent restaurants and their 11 million employees, calls expanding the Paycheck Protection Program the wrong approach, and urges passage of the RESTAURANTS Act, which he says costs $120 billion and would save $248 billion. Mr. Himes asks when Americans stopped looking out for each other and urges mask wearing, and Mr. Cloud honors Mrs. Susan Day, a retired Calallen High School teacher. The page continues onto H7055 with Mr. Cox of California on his gratitude for serving in Congress and Mr. Barr on shareholder primacy.

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“Time Is Running Out (Cong. Rec., Dec. 9, 2020).” Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/crec-crec-2020-12-09-crec-2020-12-09-pt1-pgh7054-3-a1eddd18d8/, SHA-256 83a24c0da3e27a1c9f83ed932fcb5d2cd3f3b734c849a9303c92d1aea740c839.

Full text

H7054 CONGRESSIONAL RECORD — HOUSE December 9, 2020
of St. Johns County Good Samaritan perity from others who secured them loss of a great woman. She will be fond-
Award, the Salvation Army’s Gus Craig for us. We understand that freedom and ly remembered by all for the invest-
Award, and the prestigious Colonel Ed prosperity aren’t gifts to be taken for ment and impact she has made in the
Taylor Award from the St. Johns Coun- granted, to be exalted above what we lives of so many students.
ty Veteran’s Council for his many owe each other. They are blessings to f
years of dedication to our Nation’s vet- be paid forward and to be fought for.
So what about this? What about this TIME IS RUNNING OUT FOR
erans.
mask? INDEPENDENT RESTAURANTS
b 1045 And what about this? ‘‘Mask off for The SPEAKER pro tempore. The
In addition to his many successes in freedom.’’ Really? Chair recognizes the gentleman from
law enforcement, military service, and This is a flimsy piece of cloth. It is Oregon (Mr. BLUMENAUER) for 5 min-
community service, Sheriff Shoar also uncomfortable. It is inconvenient. But utes.
holds bachelor’s and master’s degrees it saves lives. It saves others. Mr. BLUMENAUER. Mr. Speaker,
from the University of North Florida When did we stop looking out for time is running out for America’s
and an honorary doctorate of law de- each other? You are not being asked to 500,000 independent restaurants and
gree from Flagler College. turn over your children, your five boys. their 11 million employees. This is the
During his 40 years of service, Sheriff You are not being asked to ration hardest-hit sector of our economy.
Shoar made a positive difference in his sugar or to have meatless Mondays. We began our morning hour today
community, his country, his agency, You are not even being asked to serve listening to our friend, the gentleman
and the lives of many people, including a week on a jury. You are being asked from California (Mr. MCCLINTOCK), and
my own. to wear a piece of cloth on your face to it is the lead editorial in the New York
His life reminds me of a quote by protect others. Times, focusing on the crisis for these
Ralph Waldo Emerson: Mr. Speaker, I have nothing to offer restaurants.
The purpose of life is not to be happy. It is those who believe that COVID is a hoax Independent restaurants are holding
to be useful, to be honorable, to be compas- or that masks don’t save lives. All I on literally by their fingertips. They
sionate, to have it make some difference can do is pray for them when they are facing a new wave of restrictions
that you lived and lived well. meet the souls of those for whom they that are necessary to deal with the
Sheriff Shoar, David, my friend, you would not make the smallest of sac- COVID crisis that is rising.
have made a difference and lived well. rifices. The talk of expanding the Paycheck
On behalf of the Fourth Congres- What I can do is remind us what Protection Program, the PPP, abso-
sional District of Florida, I wish David makes us great as a people. It is not lutely misses the mark. It didn’t work
well in his retirement and thank him our wealth or our power. It is what we initially when it was introduced for the
for dedicating his life to the safety of are willing to do for each other. What restaurants, and it won’t work now.
our community and our Nation. makes us great is what we are willing They can’t afford to wait for warmer
to offer up to each other, the small weather in the spring or a vaccine in
f
things that we owe each other and the the summer. They don’t need more
MASKS SAVE LIVES inconceivable sacrifice upon which all debt. They need a lifeline now. Other-
The SPEAKER pro tempore. The of this is built. wise, we could see the loss of up to 80
Chair recognizes the gentleman from At our best, what are we capable of percent of our independent restaurants
Connecticut (Mr. HIMES) for 5 minutes. doing for each other? Ask Tom and that form the very fabric of our neigh-
Mr. HIMES. Mr. Speaker, I rise today Alleta Sullivan. borhoods.
to ask a simple question: When did we f Luckily, there is a solution. My RES-
stop looking out for each other? HONORING THE MEMORY OF MRS. TAURANTS Act has already passed the
We used to be a country that re- SUSAN DAY House. It is a program that won’t add
served its highest and best celebration to the deficit. In fact, it will actually
The SPEAKER pro tempore. The
for those who sacrificed for us. That is provide more money to the Govern-
Chair recognizes the gentleman from
why we honor Nathan Hale of Con- ment. The cost is $120 billion, but the
Texas (Mr. CLOUD) for 5 minutes.
necticut and Rosie the Riveter and the Mr. CLOUD. Mr. Speaker, I rise economic analysis suggests that it will
crew and passengers of Flight 93. It is today to honor the memory of Mrs. save $248 billion.
why we celebrate Martin Luther King, Susan Day, a beloved teacher in the Think about it for a moment. That is
Jr. Day, to honor a man that gave his Corpus Christi community who passed logical because, instead of adding mas-
life to make us a better people, to away on October 5, 2020. sive unemployment costs, having res-
make us a better Nation. They sac- Mrs. Day was a passionate and dedi- taurants defaulting on their mort-
rificed and did the hard things so that cated educator at Calallen High School gages, being evicted because they are
we could have the blessings of freedom who retired this past May after 36 unable to pay rent, and the ripple ef-
and prosperity. years of service to our community. fect throughout the vast supply chain
Two days ago, Mr. Speaker, we re- Students and parents alike described for independent restaurants, from
membered the start of World War II. her as devoted, energetic, and inspir- farmers, ranchers, and people who sup-
400,000 Americans died in that war, ing. She would challenge her students ply linen, for a few months of support
290,000 in combat. Tom and Alleta Sul- with quality education while encour- from the RESTAURANTS Act, it will
livan of Waterloo, Iowa, gave their sons aging them with her enthusiasm and enable them to have limited operation,
in that war, all five of them. George charm. be paying rent, or keeping current with
Sullivan, Frank Sullivan, Joseph Sul- The students of Calallen High School their mortgages, until later in next
livan, Madison Sullivan, and Albert tell stories of the many experiences she year when they can return to normal
Leo Sullivan, all five sons killed in the gave them, including coaching the operations. It is imperative that we
South Pacific in 1942, all five of them Calallen Challenge Team to three wins deal directly with putting money in
given for us. in the local TV quiz show. their hands.
Every single day, nurses, ER doctors, The English department chose to rec- Last week, former Vice President
janitors, and delivery people take huge ognize her with a plaque declaring the Biden, President-Elect Biden, said res-
risks for us. For 21⁄2 centuries, Ameri- English hallway, a place she had spent taurants need grants, not loans. Sec-
cans have done what was asked of them so much time with her students, to be retary of the Treasury Mnuchin said
and more. We serve on juries. We pay the Susan Day Hallway. restaurants need grants; they don’t

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our taxes. We have been drafted into Susan Day was an amazing member need loans.
the military. of our community who has touched the We have a solution that is available.
Why? We do these things not because lives of hundreds of students, parents, The RESTAURANTS Act, as I said, has
we necessarily want to do them, but and teachers. already passed the House of Represent-
because we recognize that we have in- I offer my condolences to her family, atives. Over half the Senate has co-
herited freedoms, liberty, and pros- friends, and students as they grieve the sponsored this legislation.

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December 9, 2020 CONGRESSIONAL RECORD — HOUSE H7055
As we have heard from President- thusiastically providing access to cap- holder value, instead of groveling be-
Elect Biden, it should not be a loan; it ital to Chinese businesses which fore radical environmentalists, social-
should be a guarantee. Secretary threaten American competitiveness ists, and the extreme far left.
Mnuchin said restaurants need grants; and national security.
f
they don’t need loans. The House The appointment of Mr. Deese is a
should follow up, but not with expand- harbinger of things to come. It show- EXPRESSING DEEP GRATITUDE
ing PPP, more cumbersome loans. Send cases that, unless we act, we will be on FOR PRIVILEGE OF SERVING IN
them that lifeline. Keep independent the path to socialism, where the pri- CONGRESS
restaurants in business. Protect their mary goal of a corporation is not long-
term growth or hiring more people or The SPEAKER pro tempore. The
11 million employees and literally the
providing products and services to the Chair recognizes the gentleman from
very fabric of our community.
American people, but instead to satisfy California (Mr. COX) for 5 minutes.
f
the most vocal detractors of corporate Mr. COX of California. Mr. Speaker,
DEESE, ESG, AND STAKEHOLDER on behalf of the individuals, families,
America.
CAPITALISM So-called stakeholder capitalism, or and communities of California’s 21st
The SPEAKER pro tempore. The the left’s ideals for it, takes for grant- District, I want to express my deepest
Chair recognizes the gentleman from ed the laws of supply and demand and gratitude for the privilege of being
Kentucky (Mr. BARR) for 5 minutes. discounts the market forces that gov- here today.
Mr. BARR. Mr. Speaker, I rise today ern businesses’ success or failure. I am the son of immigrants who, I am
to once again sound the alarm about an Shareholder primacy is not about sure, never imagined that their son
increasing danger to retail investors elevating the select few. It is about es- would become a Member of Congress.
and retirement savers across the coun- tablishing metric-based accountability Like my late father, I first started in
try. for corporate leaders to ensure that chemical engineering, but my career
We have seen in recent years a trend they are operating efficiently and ef- diverged when my wife, Kathy, and I
of asset managers, banks, and other fi- fectively. That efficacy and produc- moved to the Central Valley some 20
nancial institutions prioritizing polit- tivity then, in turn, benefits employ- years ago in order for her to start and
ical and social causes over investment ees, communities, and suppliers. pursue her medical career, taking care
returns, potentially compromising the In today’s market, a company cannot of some of the most critically ill chil-
long-term financial security of their be successful without a focus on these dren in one of the most deserving re-
customers. other constituencies. But it must, first gions in America.
We have seen companies cede the pri- and foremost, make a profit to be via- Mr. Speaker, the best thing I can say
macy of shareholders to so-called ble. about myself is I am married to her,
stakeholders, endangering the long- Caring about broader social concerns, Kathy Murphy.
standing corporate governance prin- treating employees, suppliers, and cus- For me, I began volunteering with
ciple of directors’ and officers’ fidu- tomers well and ethically, and engag- Habitat for Humanity, and from there,
ciary duty. ing in philanthropy within the commu- I can directly trace my path to where
Corporate leaders continue to accede nity may all engender social support I stand before you today as a Member
to the calls from the extreme left to for a corporation, and in that sense, it of Congress, as a public servant. It is
shun certain industries, deprioritize fi- may advance long-term shareholder has been an honor and a privilege to
nancial growth, and comply with a rad- value maximization. But that is not serve.
ical corporate governance reform agen- the paradigm those on the far left are There is nothing more rewarding in
da out of fear of being publicly shamed. urging the business community to life than serving others. As the late
I fear that, if left unchecked, this adopt. Instead, they want a new para- Martin Luther King, Jr. said and pro-
trend will accelerate in the coming digm, a paradigm that subordinates the fessed: ‘‘Life’s most persistent and ur-
years, as government continues to interests of shareholders to the whims gent question is: ‘What are you doing
pressure financial institutions to be of stakeholders who have no ownership for others?’’’
agents of social change at the expense interest in the corporation whatsoever. One of my favorite family stories was
of savers, customers, and shareholders. about my grandmother, my lola, in the
Without a strong defense of free and b 1100 Philippines, right after World War II,
fair market principles, we risk wit- Replacing the focus on shareholder in Manila. She saw that there was a
nessing a decline in American eco- value with a focus on stakeholder in- segment of our troops who were being
nomic exceptionalism that will have terests unrelated to the core business discriminated against. They didn’t
long-term material impacts on our of the corporation would not only au- have anyplace to go when they got off
constituents. thorize officers and directors to breach duty, no place to hang out and have a
Earlier this month, former Vice their fiduciary duties to the owners of drink or a meal or just hang out with
President Biden announced that he the corporation, it would, in the long- their buddies. So my grandmother, she
would appoint Brian Deese as the term, undermine the corporation’s took it upon herself to open the first
chairman of the National Economic ability to advance the interests of em- and only social club for African-Amer-
Council. Mr. Deese will join the admin- ployees, suppliers, customers, and ican troops there in Manila.
istration from his current post as the other stakeholders. Now, my grandmother didn’t know or
head of sustainable investing at The socialists think that shareholder even ever speak to or meet our friend
BlackRock. In that capacity, he serves value maximization is always incon- the late John Lewis, but they were cut
as a leading proponent of BlackRock’s sistent with other stakeholder inter- from the same cloth. They lived by the
environmental, social, and governance, ests. The opposite is often true. belief that, if you see something that is
or ESG, investing strategy. I believe we are only scratching the not right, not fair, not just, you have
BlackRock has been perhaps the surface of how the radical left hopes to to speak up; you have to say some-
most vocal asset manager on restrict- remake corporate America in its so- thing; you have to do something. My
ing access to capital for legally oper- cialist image. We must act diligently grandmother did something.
ating fossil energy businesses and lim- to preserve the spirit of free enterprise, That sense of social justice was
iting choices for their investors based promote healthy economic growth, and passed along to my mom, Perla
on misguided public relations goals. protect the long-term interests of in- deCastro, my children’s lola, who be-
This, in part, is attributable to the ef- vestors. came one of the State of Nevada’s first

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forts of Mr. Deese, who has orches- With Brian Deese departing from equal opportunity officers.
trated the curious investment strategy BlackRock, perhaps that firm can re- I am so proud of my children, Molly,
of actively alienating an entire sector evaluate its obligation to the investors Joe, Thomas, and Jack, who are con-
of the American economy, the U.S. en- who entrust their assets to them to sidering serving others in the Peace
ergy sector, and the millions of jobs it prioritize returns over political er- Corps, the Foreign Service, and the
supports, while at the same time en- rands, to focus on maximizing share- Armed Forces.

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