Insular Areas and Freely Associated States Energy Developmentby Representative Marcy Kaptur
Posted on 2014-12-11
KAPTUR. Mr. Speaker, I thank the ranking member of the full
committee, Nita Lowey of New York, and the chairman, Hal Rogers, for
the perseverance they have shown throughout this process. I rise to
address the bill before us to fund the departments of the government of
the United States for the federal fiscal year 2015 which incidentally
began over 2 months ago.
Though 2 months late and a Christmas tree bill at that, what is very troubling in this measure are dangerous and unwelcome nongermane riders--like opening the door to more Wall Street abuse and reckless behavior with swaps and derivatives. Haven't [[Page H9278]] those megabanks hurt America enough? What is this doing in this bill? This underhanded inclusion of authorizing language does not belong in this bill. This subterfuge reminds me of a similar effort in 2000 to bury language in a Continuing Appropriations bill to not regulate derivatives at all. Look what that did to our economy.
I recognize that not passing this bill can severely hamper our economic recovery and job creation. Many of us view these as the top priorities our constituents have sent us here to achieve. Job growth this past month increased again by 321,000, as the unemployment rate dropped to 5.8 percent nationwide.
We have gained 10 million private sector jobs since President Obama took office amid the deepest recession in modern history, but still, 9.1 million Americans remain unemployed. This bill will promote future economic growth which is in America's interests.
There should never be a question whether the government of the United States will remain open for business and honor its commitments and contracts.
Further, this appropriations bill is within budget limits. Indeed, our deficit has been going down year after year as employment increases and revenues with it.
The annual deficit has dropped from $1.3 trillion in 2010 to an estimated $469 billion for 2015, an enormous improvement made possible by steady economic growth. Our pace needs to continue.
The Energy and Water portion of this bill assures America will continue its decathlon toward energy independence and energy diversification, a major strategic objective for our Nation--some would argue the highest.
An all-of-the-above energy strategy is strengthening our Nation here at home financially and militarily as fewer imports are required and new energy jobs are created within the borders of the United States.
The energy trade deficit, by the way, for our Nation has been on a downward path.
The SPEAKER pro tempore. The time of the gentlewoman has expired.
Mrs. LOWEY. I yield the gentlewoman an additional 15 seconds.