Economy (Cong. Rec., May 26, 2021)
Summary
Congressional Record, Senate, page S3469, May 26, 2021. Under Remembering John Warner, McConnell says that former colleague Senator John Warner passed away, describing Warner as a wartime veteran of the Navy and Marine Corps and a former Secretary of the Navy. Under Business Before the Senate and Economy, McConnell says two Senate committees will consider and vote on two very different pieces of legislation: a bipartisan infrastructure bill led by Chairman Carper and Ranking Member Capito, and legislation drafted by Chairman Wyden that McConnell says would increase the price of gas at the pump. Remarks at the top of the page state that 35 House Republicans voted to go forward on the January 6 commission legislation.
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“Economy (Cong. Rec., May 26, 2021).”
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May 26, 2021 CONGRESSIONAL RECORD — SENATE S3469
was negotiated by the Republican REMEMBERING JOHN WARNER pain for working American families in
ranking member on the House Home- Mr. MCCONNELL. Mr. President, I exchange for minimal—minimal—envi-
land Security Committee, the com- was saddened to learn this morning ronmental gain.
mittee of jurisdiction; House Demo- that our friend and former colleague, Under the guise of Clean Energy for
crats accepted every change requested Senator John Warner, passed away last America, Chairman WYDEN is leading
by the House Republican leadership; night. the charge against the most reliable
and the bill received 35 votes in the By the time I arrived in the Senate, and affordable ways to power our coun-
House and, likely, a lot more if House John was already churning a long wake try.
leadership didn’t flip their position at as one of this body’s foremost voices on The legislation he has drafted is full
the last minute. national defense. As a wartime veteran of the sort of policies that would in-
Despite the pressure of Donald of the Navy and Marine Corps, he was crease the price of gas at the pump,
Trump to go along with his Big Lie, deeply devoted to the men and women hike the tax burden on independent
35—35—House Republicans voted to go who serve in uniform. American producers, of course, killing
forward. They are brave, should be As a proud Virginian, John took seri- jobs, discourage the industry-led inno-
commended, and it shows that this ously his Commonwealth’s role as host vations that have already been reduc-
truly is a national need, a bipartisan to massive portions of America’s mili- ing emissions without hurting workers,
national need. tary might, including the largest naval and dragging the United States away
Another Republican Senator, in wor- base in the world. from energy independence back toward
ried tones, said the January 6 Commis- As a former Secretary of the Navy, reliance on imports from places like
sion should be more like the 9/11 Com- he brought Pentagon clout and tech- Russia, Venezuela, and the Middle
mission and be chaired by outside inde- nical chops that would help the Senate East.
pendent investigators appointed by play a hugely consequential role in de- In exchange, the bill would have ordi-
both parties. Hello. I hate to break it fense policy. nary Americans subsidize the lifestyle
to my Republican colleagues, but the John’s career was capped, of course, preferences of wealthy people in places
legislation passed by the House is mod- by years as chairman and ranking like New York and San Francisco.
eled after the 9/11 Commission and, you So one committee unanimously ap-
member of the Armed Services Com-
guessed it, would be chaired by outside proved a smart, targeted, bipartisan
mittee. But John made an even wider
independent personnel appointed by approach to key infrastructure projects
impact. My predecessor as chairman of
both parties. They say they want that that America needs, and another will
the Rules Committee was a principled
in the bill. It is in the bill. consider a partisan descendent of the
patriot across the board.
So what is really going on here? Why Green New Deal that would raise taxes,
He was also a truly old-school Vir-
the various, shifting reasons why Re- probably raise gas prices, and leave us
ginia gentleman. John knew a thing or
publicans can’t support a simple bipar- with a less and less reliable electricity
two about horseracing, for example,
tisan, down-the-middle, 50–50 Commis- grid.
and that is high praise coming from a
sion to report on a very serious event Really, this contrast is a fork in the
Kentuckian to a non-Kentuckian.
in our Nation’s history? road that the Biden administration is
Members on both sides of the aisle
Well, it seems the real reason has facing writ large. Which route to take;
looked to John as a trusted mentor and
nothing to do with the structure of the a lonely road leading to the far left
friend. Our thoughts today are espe-
Commission, nothing to do with the de- versus a mainstream, bipartisan road
cially with our current colleagues from
tails of the bill. It all has to do with leading straight ahead toward practical
Virginia. So many Senators, past and
politics. According to POLITICO this policies that make American lives ac-
present, knew John very well.
morning, the Republican leader, Sen- tually better?
Most of all, we are thinking today of
ator MCCONNELL, told his Members be- The Senate knows how to walk that
his wife Jeanne; his children, Virginia,
hind closed doors that ‘‘regardless of road. This last highway bill passed the
John, and Mary; and the entire Warner
tweaks to the bill . . . approving the Senate with 83 votes. Just last month,
family. The Senate will keep them all
Commission could hurt the party’s we passed a water infrastructure bill
in our prayers in the days ahead.
midterm election message.’’ with 89 votes.
Again, that is a quote from a report f If President Biden wants to secure
in POLITICO magazine or POLITICO lasting solutions, build a lasting leg-
BUSINESS BEFORE THE SENATE
newsletter—whatever POLITICO is. acy, and improve the lives of Ameri-
Mr. MCCONNELL. On a completely cans in practical ways, he has the map
Let me repeat that. According to this
different matter, today two Senate in hand. For the sake of the country,
report, the Republican leader of the
committees will consider and vote on let’s hope he and his party decide to
Senate opposes any independent in-
two very different pieces of legislation. follow it.
quiry into the January 6 insurrection
Over in the Russell Building, the En- f
because he is worried the truth could
vironment and Public Works Com-
hurt the Republicans politically. ECONOMY
mittee just approved a bipartisan bill,
Look, I am sorry if an independent
led by Chairman CARPER and Ranking Mr. MCCONNELL. Now, Mr. Presi-
Commission to study an attack on our
Member CAPITO, to invest in better dent, on a related matter, the Demo-
democracy isn’t the Republican ad
roads and bridges for the American crats’ far-left turn thus far has affected
maker’s idea of a good time. This is too
people. the entire U.S. economy, and it is hit-
important—too important.
This would be the first major action ting working families right where it
We cannot let the Big Lie fester. We
on surface transportation since the hurts.
cannot let faith in our elections con-
FAST Act 6 years ago. It would raise In January, President Biden inher-
tinue to erode. We must get at the
the baseline funding for roads and ited safe and effective vaccines. He in-
truth and restore Americans’ con-
bridges to an alltime high. And, as ex- herited a reopening economy and a
fidence in this beautiful, noble, ongo-
pected, our colleagues just reported country that was sitting on more pent-
ing experiment in democracy.
this bill out unanimously, 20 to 0. That up savings than anything economists
The Senate will vote on the Commis-
is legislating done right. Our col- had seen in living memory. That was
sion. I hope our Republican colleagues
leagues are modeling the approach that the condition of the country when the
rise to the occasion.
would let Congress build a successful, President took office.
I yield the floor.
big-picture infrastructure bill later The Democrats have already dreamt
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f this year. up a massive, record-shattering Wash-
Meanwhile, in the Hart Building, the ington spending spree. Like one House
RECOGNITION OF THE MINORITY Finance Committee will spend its Democrat admitted way back at the
LEADER afternoon marking up a leftwing, par- start of the pandemic, liberals saw the
The PRESIDING OFFICER. The Re- tisan bill written fully within the spir- crisis as ‘‘a tremendous opportunity to
publican leader is recognized. it of the Green New Deal: maximum restructure things to fit our vision.’’
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S3470 CONGRESSIONAL RECORD — SENATE May 26, 2021
The Democrats had already decided hodgepodge of stuff—stuff like electric (2) the people of the United States will
to run up the American people’s credit cars and welfare programs. This is $7 never be fully protected against the COVID–
cards no matter what. Their first pur- trillion of mediocre socialism and lib- 19 pandemic until the pandemic is also
brought under control through vaccination
chase was a $1.9 trillion excuse for a eral social engineering. No serious ex-
around the world;
COVID bill that the Democrats pert thinks this is what our economy (3) the release of Special Drawing Rights
rammed through on a party-line vote. actually needs. No wonder Larry Sum- by the International Monetary Fund, as was
Even liberal economists and even mers says he is concerned that these done after the 2008 global economic crisis, is
former advisers to Presidents Clinton proposals are ‘‘substantially excessive a no-cost way to help poorer countries pro-
and Obama cautioned that the Demo- . . . way overdoing the requisite re- cure COVID–19 vaccines and protect against
crats’ bill was way larger than the re- sponse.’’ the instability caused by a severe economic
maining hole in our economy, badly The sooner this administration can downturn;
(4) helping protect against another global
tailored, and might well cause infla- get the memo, the more bipartisan
economic meltdown by releasing Special
tion. progress we will be able to make, and Drawing Rights is also a way to help protect
So everyone, from Republicans to lib- the better off working families will be. United States export jobs at home, and why
eral economists, warned that the f the move is supported by leaders of United
Democrats’ bad bill could easily cause States businesses and labor organizations;
CONCLUSION OF MORNING and
inflation that would hurt ordinary
BUSINESS (5) any allocations of Special Drawing
American families. Well, look where we
are today. Where are we today? We just The PRESIDING OFFICER. Morning Rights approved by the International Mone-
business is closed. tary Fund to help with the purchase of
got the most dramatic monthly infla-
COVID–19 vaccines and stem the worst eco-
tion report in over a decade. Ask any f nomic impact of the pandemic should in-
working family about gas prices, food LEGISLATIVE SESSION clude ongoing efforts to discourage countries
prices, home prices, lumber prices, that are allies of the United States from ex-
used car prices. One survey just found --- changing Special Drawing Rights for hard
that more than 80 percent of American ENDLESS FRONTIER ACT—Resumed currencies with rogue countries and follow-
families are literally tightening their up by the International Monetary Fund to
The PRESIDING OFFICER. Under audit how such allocations were spent.
household budgets because of the the previous order, the Senate will re-
threat of inflation. sume consideration of S. 1260, which The senior assistant legislative clerk
Yet the problem with the Democrats’ the clerk will report. read as follows:
product wasn’t just how much credit The senior assistant legislative clerk The Senator from Louisiana [Mr. KENNEDY]
and borrowed money it flooded into the read as follows: proposes an amendment numbered 1710 to
economy; the problem was also how lit- A bill (S. 1260) to establish a new Direc- amendment No. 1502.
tle of substance American families got torate for Technology and Innovation in the
for the money. Larry Summers, former National Science Foundation, to establish a The amendment is as follows:
President Clinton’s Treasury Sec- regional technology hub program, to require AMENDMENT NO. 1710
retary, put it this way—and this is the a strategy and report on economic security,
science, research, innovation, manufac- (Purpose: To prohibit allocations of Special
Larry Summers who also had a role in
turing, and job creation, to establish a crit- Drawing Rights at the International Mone-
the Obama administration. tary Fund for perpetrators of genocide and
Here is what he said: ical supply chain resiliency program, and for
other purposes. state sponsors of terrorism without con-
What’s striking about [that bill, the gressional authorization)
COVID bill] is that all of the trillions of dol- Pending:
lars—all of it—does not include a penny di- Schumer amendment No. 1502, in the na- At the end of title III of division C, add the
rected at ‘‘building back better.’’ ture of a substitute. following:
Cantwell amendment No. 1527 (to amend- SEC. 3314. PROHIBITION ON ALLOCATIONS OF
He continued:
ment No. 1502), of a perfecting nature. SPECIAL DRAWING RIGHTS AT
It transfers to state and local governments INTERNATIONAL MONETARY FUND
AMENDMENT NOS. 2014, 1710 AND 1911 TO
that don’t have any new budget problem. . . . FOR PERPETRATORS OF GENOCIDE
AMENDMENT NO. 1502
It’s paying people who have been unem- AND STATE SPONSORS OF TER-
ployed more in unemployment insurance The PRESIDING OFFICER. Under RORISM WITHOUT CONGRESSIONAL
than they earned when they were working. the previous order, the following AUTHORIZATION.
It’s giving checks to families in the 90th per- amendments will be called up and re- Section 6(b) of the Special Drawing Rights
centile of income distribution. ported by number. Act (22 U.S.C. 286q(b)) is amended by adding
That is from Larry Summers. He is a The senior assistant legislative clerk at the end the following:
Democrat. He is a friend of the admin- read as follows: ‘‘(3) Unless Congress by law authorizes
istration’s. The Senator from Illinois [Mr. DURBIN] such action, neither the President nor any
The Democrats’ hard-left turn has al- proposes an amendment numbered 2014 to person or agency shall on behalf of the
amendment No. 1502. United States vote to allocate Special Draw-
ready hurt our economy, but they still
ing Rights under article XVIII, sections 2
seem to think that this massive bill The amendment is as follows:
and 3, of the Articles of Agreement of the
should only actually just be the appe- AMENDMENT NO. 2014 Fund to a member country of the Fund, if
tizer. The administration has proposed (Purpose: To express the sense of the Senate the government of the member country has—
a total of about $7 trillion of spending on the allocation of Special Drawing ‘‘(A) committed genocide at any time dur-
in its first few months in office. That Rights by the International Monetary ing the 10-year period ending with the date
absurdly overpriced COVID package Fund to help other countries procure of the vote; or
would actually be the cheapest of the COVID–19 vaccines and protect against the ‘‘(B) been determined by the Secretary of
economic instability caused by the COVID– State, as of the date of the enactment of the
three massive bills the Democrats ac-
19 pandemic) Strategic Competition Act of 2021, to have
tually want to pass. repeatedly provided support for acts of inter-
For some perspective, about $7 tril- At the end of subtitle A of title II of divi-
sion C, add the following: national terrorism, for purposes of—
lion is considerably more money in in- ‘‘(i) section 1754(c)(1)(A)(i) of the Export
SEC. 3219L. SENSE OF SENATE ON ALLOCATION
flation-adjusted terms than America OF SPECIAL DRAWING RIGHTS BY Control Reform Act of 2018 (50 U.S.C.
spent in fighting and winning World INTERNATIONAL MONETARY FUND 4813(c)(1)(A)(i));
War II. The Biden administration RELATING TO COVID–19 PANDEMIC. ‘‘(ii) section 620A of the Foreign Assistance
wants to tax, borrow, and print more It is the sense of the Senate that— Act of 1961 (22 U.S.C. 2371);
(1) it is in the strategic interests of the ‘‘(iii) section 40(d) of the Arms Export Con-
money than America spent on World
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United States to help ensure that COVID–19 trol Act (22 U.S.C. 2780(d)); or
War II to finance a grab bag of mis- ‘‘(iv) any other provision of law.’’.
vaccines are available to other countries,
cellaneous liberal programs that would
particularly poorer countries with limited The Senator from Alaska [Mr. SULLIVAN]
further jack up prices on the things resources, not only as a timely live-saving
families actually need to buy. It took proposes an amendment numbered 1911 to
and humanitarian measure, but also as the amendment No. 1502.
less money to win a global war than best way to protect hard-fought gains made
these Democrats want to spend on a against the pandemic in the United States; The amendment is as follows:
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