House of Representatives

Floor Speech

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Mr. POLIS. Mr. Speaker, I yield myself such time as I may consume.

I thank the gentleman for yielding me the customary time, but I have to say that I think that this somewhat breaks with the custom of this body not to delay floor proceedings during the reorganization of the Democratic Caucus. I know that, when the Democrats were in the majority, we routinely gave deference to the Republican Conference's plan for retreats and for caucus reorganizations. We have before us several contested races. Of course, the Nation's business comes first, which is why we are here making the case on these bills.

I would like to add that I hope that this is not the tone we are going to be setting for the next Congress. I think it is very important that, despite our differences on policies, both conferences are respectful of the responsibilities that Members have not only within the institution of Congress but within their respective conferences and caucuses. On our side, we will be brief because we do have additional responsibilities, as I mentioned.

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Mr. POLIS. Mr. Speaker, I just want to note that this rule contains two completely different bills. The first is the 21st Century Cures Act, which would help address many of the health crises that we face. The other bill is H.R. 6392, the Systemic Risk Designation Improvement Act, that would weaken many of the protections that were put in place in the Dodd-Frank Wall Street reform bill. So there are two very different bills here under one rule, a very closed process which the Democrats will be opposing.

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Mr. POLIS. Mr. Speaker, there is a lot of bipartisan support for the 21st Century Cures Act. I commend Chairman Upton, Ranking Member Pallone, Ranking Member DeGette, Ranking Member Gene Green, and so many others who worked hard on this legislation that will save lives by improving the access that Americans have to potentially lifesaving drugs and devices, helping to keep people healthy and independent and out of the hospital.

I plan to support this legislation. I think we also all know that it is a starting point. We have additional work to do to make prescription drugs more affordable, to make the approval process more streamlined for both prescription drugs and medical devices, regenerative medicines safe, and, of course, funding levels for research.

Mr. Speaker, I would like to inquire if there are any speakers remaining on the other side?

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Mr. POLIS. Mr. Speaker, I yield myself such time as I may consume.

Again, I do want to point out, in breaking with custom, there were many other Democrats who wanted to discuss this bill; but, as we speak, the Democratic Caucus is having elections for the vice chair position.
While we were on the floor, we had elections for the whip position and the assistant leader position, both of which I was unable to participate in because, of course, I had to conduct the business of the Nation.

But, again, I would hope that both parties are respectful of the scheduling requirements that are incumbent upon being a member of one of the two major parties of this body. In the past, we have always been able to work in when Republican Conference has a retreat or a reorganization meeting. I think that is important to this body because, while, of course, as Americans and Representatives we have responsibilities to the institution of Congress, as elected officials of the Democratic or Republican Party, we do have a responsibility to select our leaders and establish our rules.

I don't think that the amount of time that either party spends doing that is unreasonable, but I think that it is very important that both parties and leadership of this body, the Speaker and the majority leader, are respectful of that while, of course, understanding we have important people's business to conduct. There were, of course, many other options. This House could have come to order and gotten this work done at 8 in the morning or they could do it later in the afternoon. There are a number of different ways we could have worked around the previously scheduled reorganization of the Democratic Caucus.

Frankly, I am disappointed not just for myself having been unable to participate in those party functions, but also on behalf of other members of the Democratic Caucus who were unable to come and speak on these very important issues because of playing active roles in running for or supporting or speaking on behalf of various candidates for party positions, which is occurring as I speak.

This bill has two completely unrelated bills that are in it. Again, the 21st Century Cures Act has strong bipartisan support. I add my voice to those who have praised this legislation, and hopefully it will challenge the next Congress to continue to move forward with facilitating the approval process.

I have often heard the approval process, for instance, for a new drug for inception to market can often be in excess of $1 billion or $2 billion. We hear a number of different figures tossed around. I think sometimes it is in the high hundreds of millions. Sometimes it is as high as 1.5 or 2 billion. Regardless, that is one of the reasons that there is an upward pressure on prices for proprietary prescription drugs. It is also one of the reasons that lifesaving prescription drugs are often unavailable here even while they are on the market in Europe and other areas. Of course, without compromising safety--and Democrats and Republicans agree on that--there needs to be a way that we can facilitate, particularly in the realm of personalized medicine, bringing new lifesaving products to market in an affordable way.

An excellent model for that that has saved hundreds of thousands of lives was put in place during the first administration of the first George Bush, which provided an expedited route for HIV drugs. Thanks to that route that was used for many of the HIV drugs, some of which are still in use today, hundreds of thousands of people affected by HIV, including many LGBT Americans, are still alive today because of that effort. I am also confident, because of today's effort with the 21st Century Cures Act, it will save the lives of many more Americans. Again, it is a starting point. We have room to go.

The other bill would, for some reason--it is not something I hear from constituents, but apparently it is something Republicans want to do--exempt some of the very biggest banks from some of the requirements under Dodd-Frank regarding ensuring their stability and preventing them from failing. It is my understanding it only affects a few dozen banks, the very largest banks, banks that are worth tens or hundreds of billions of dollars. I am sure they like it. It probably reduces their ability to have to comply.

But there is a reason those requirements were put in place for those very big banks. We are worried that the failure of any one or certainly multiple banks could create a systemic risk and lead to future bailouts. So I strongly believe that this bill before us today on the banking regulations, if it were to become the law, it would increase the likelihood of future bailouts, which surprises me because many of us have been traditionally opposed to those very kinds of bailouts.

It is my understanding there is one remaining speaker on the other side, so I reserve the balance of my time to allow that speaker to speak.

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Mr. POLIS. Mr. Speaker, I yield myself the balance of my time.

So, again, I think there is some good and some bad in this. The 21st Century Cures Act is very important, and I hope that this body sees it as a starting point, not an ending point. There are some important reforms in there that will save lives and also help remove some of the upward pressure on prescription drug prices, something we hear about very often from constituents.

There is another bill in there which most Democrats will be voting against with regard to making it potentially more likely that larger banks can fail us or need bailouts, and that is not something that most of us have an appetite for. Of course, the closed nature of the bill is not consistent with the expressed desire of the Speaker to have an open process. The Committee on Rules yesterday shut down a number of excellent ideas and amendments that were offered, and they are not allowed to be debated here on the floor.

Of course the timing of this bill, particularly for a bipartisan bill, to bring it up in a way, in a manner and a time that conflicts with the previously noticed meeting that happens to include all of the members of one of the two political parties is not the best way to foster the type of bipartisan cooperation that is important to get things done around here.

So Democrats will not be supporting the rule. Many of us will, thanks to the work of Chairman Upton, Ranking Member Pallone, Ranking Member DeGette, Ranking Member Gene Green, and others, be proud to hopefully send to the President's desk the 21st Century Cures Act as an excellent starting point in helping to save lives.

I urge a ``no'' vote on the rule.

Mr. Speaker, I yield back the balance of my time.

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