Providing for Consideration of the Senate Amendment to H.R. 83, Insular Areas and Freely Associated States Energy Developmentby Representative John P. Sarbanes
Posted on 2014-12-11
SARBANES. Madam Speaker, I rise in opposition to the underlying
bill. There are two provisions in this bill that are deeply offensive
to the American people and their sense of fairness.
Over here, you have a provision that would backstop with taxpayer money increased risky activity on the part of Wall Street. This would allow them to go out, make more money with less risk, and then if they run into a problem, the taxpayers of this country would be asked to come in and bail them out. So you have that provision for Wall Street.
Over here, you have a provision that would allow Wall Street, the wealthy, and the well-connected to pour 10 times more money into the political apparatus up here on Capitol Hill and buy influence. Over here, you have got a Wall Street giveaway, and over here, you have an opportunity for Wall Street to put more money into the political process.
These two provisions bumped into each other somewhere in the middle of the night in the corridors of Capitol Hill up here. They bumped into each other. Maybe they were introduced, and one said, ``I will be the quid,'' and the other one said, ``I will be the quo.'' Madam Speaker, I don't know which is which, but I know this is a quid pro quo, and it is the kind of quid pro quo [[Page H9073]] that is corrupting the machinery of our government and is offensive to the American people. We need to get rid of the quid, we need to eliminate the quo from this bill, and we need to bring it back in a way that we can actually support it. That is what we need to do for the American people.