Historic Moment

HISTORIC MOMENT -- (House of Representatives - September 27, 2008)

Ms. FOXX. Mr. Speaker, you know, people often come up and say we are at an historic moment. Every moment is a part of history because at some time what we are doing is going to be recorded but we really are at another defining moment in American history here this week and this weekend.

And the American people need to know that House Republicans are fighting for the right values and for what 99 percent of Americans have been telling us for the past week. I am also happy to report that most House Republicans agreed with their constituents even before they began hearing from their constituents, and that's a good thing for the American people to know because that means our resolve is even stronger than it would have been if some of our Members had been of a different mind but changed their mind once they started hearing from their constituents.

House Republicans are fighting to ensure that the rescue bill, the economic rescue bill doesn't give a blank check to Wall Street at the expense of taxpayers on Main Street. People have been calling me all day today. I had a call just before I came on the floor asking me are we all right. I am here to reassure the American people that from our side of the aisle we are all right. We are doing fine, and we are standing strong. And I think it is very important that we say that.

But I think also we need to say what some of the specific things we are fighting for and we are fighting against. We are fighting to make sure that we don't slide into socialism in this country. And we are fighting against the special interests, the pork barrel and the very groups that helped get us into the situation that we are in now. I want to say that we are working hard to get out of any bill that is presented here that has pork barrel provisions added by the Democrats, that would reward the people who support them and give them all their money.

Let me talk about three of those groups. Number one, the trial lawyers. Believe it or not, the Democrats have figured out a way to put into this economic recovery bill a great gift to the trial lawyers, and that is something that is called around here a cram down provision.

It would allow people who don't think their mortgage rate is fair to go to a bankruptcy judge and ask that bankruptcy judge to change the conditions of their mortgage. That is an abomination. But what it would do is give a lot of work to trial lawyers. We have said there is a marker here, we will not vote for any economic recovery plan that is going to do that because it would undermine the effectiveness of any economic recovery effort by making it even harder to value these securities.

There is another gift in the draft presented by the Democrats to big labor. This gives Washington's powerful big labor bosses a big handout by having them have ``say on pay'' or proxy access provisions that the Democrats have added to this.

And then a group that people have asked me about ACORN. There is a big gift in here to that group. It includes a giveaway that would force taxpayers to bankroll a slush fund to a discredited ally of the Democratic Party. ACORN's fraudulent voter registration activities on behalf of Democratic candidates are well known.

This bill that the Democrats have presented would return any profits made in the long term from the economic rescue package partly back to ACORN. In fact, the first part of it would go to ACORN for their often-illegal help in helping Democrats get elected.

I have, Mr. Speaker, a long list of their most recent scandals and unlawful activities. Seven ACORN workers were charged with committing the biggest voter registration fraud in Washington State history. That was from the Seattle Times.

Another article from the Wall Street Journal, ``Late last year, a handful of ACORN canvassers in Washington State admitted that they had falsified voter registrations by illegally filling out hundreds of forms with names such as Dennis Hastert, Leon Spinks and Fruito Boy Crispila.''

I don't have time in the short time I have available to read all of these excerpts from articles, but I would like to put them all in the Record.

Mr. Speaker, I want the American people to know, Republicans are fighting for you.

``ACORN is a long-time advocacy group with whom Obama was once associated. Recently, though, ACORN workers in two states have pleaded guilty to election fraud, an unlikely recipient of federal largess.'' Fox News Report, 9/26/08.

``Seven ACORN workers were charged with `committing the biggest voter-registration fraud in [Washington] state history.' '' The Seattle Times, 7/26/07.

ACORN workers submitted ``just over 1,800 new voter registration forms, but there was a problem. The names were made up--all but six of the 1,800 submissions were fakes... The ACORN workers told state investigators that they went to the Seattle public library, sat at a table and filled out the voter registration forms. They made up names, addresses, and Social Security numbers and in some cases plucked names from the phone book. One worker said it was a lot of hard work making up all those names and another said he would sit at home, smoke marijuana and fill out the forms.'' Fox News Channel, 5/02/08.

``Late last year, a handful of ACORN canvassers in Washington state admitted that they had falsified voter registrations by illegally filling out hundreds of forms with names such as Dennis Hastert, Leon Spinks and Fruito Boy Crispila.'' Wall Street Journal, 7/31/08.

``Eight workers for a get-out-the-vote effort in St. Louis city and county have pleaded guilty to federal election fraud for submitting false registration cards for the 2006 election, authorities said today. The workers were employed by the Association of Community Organizations for Reform Now (ACORN), gathering voter registrations.'' Associated Press, 4/02/08.

``Acorn has had a number of missteps. This month its founder, Wade Rathke, resigned after news emerged that his brother Dale had embezzled nearly $1 million from Acorn and affiliated groups eight years ago--information the group kept from law-enforcement authorities and most members. Dale Rathke left the organization only last month.'' Wall Street Journal, 7/31/08.

So how exactly will ACORN be rewarded if the Democrats get their way? Very simple: behind closed doors, ACORN-friendly language was slipped into the Democratic economic rescue proposal by Senate Banking Committee Chairman Chris Dodd (D-CT) and House Financial Services Committee Chairman Barney Frank (D-MA). Take a look:

Transfer of a percentage of profits.

1. Deposits. Not less than 20 percent of any profit realized on the sale of each troubled asset purchased under this Act shall be deposited as provided in paragraph (2).

2. Use of deposits. Of the amount referred to in paragraph (1)

1. 65 percent shall be deposited into the Housing Trust Fund established under section 1338 of the Federal Housing Enterprises Regulatory Reform Act of 1992 (12 U.S.C. 4568); and

2. 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569).

Remainder deposited in the Treasury. All amounts remaining after payments under paragraph (1) shall be paid into the General Fund of the Treasury for reduction of the public debt.

What does this mean? The Wall Street Journal breaks it down in an editorial published today:

``What we have here essentially are a pair of government slush funds created in July as part of the Economic Recovery Act that pump tax dollars into the coffers of low-income housing advocacy groups, such as Acorn.''

``Acorn, one of America's most militant left-wing `community activist groups,' is spending $16 million this year to register Democrats to vote in November. In the past several years, Acorn's voter registration programs have come under investigation in Ohio, Colorado, Michigan, Missouri and Washington, while several of their employees have been convicted of voter fraud...''

That's right. Rather than returning any profits made in the long-term from the economic rescue package, Democrats want to first reward their radical allies at ACORN for their help--often illegal help--in getting Democrats elected to office. Families, seniors, small businesses, and all American taxpayers deserve better than what Democratic leaders are attempting to jam down their throats.

The rescue package should not become a ``Christmas tree'' for the Democratic Majority's far-left wing political agenda that seeks to shower taxpayer dollars upon groups like ACORN. On behalf of beleaguered taxpayers across the nation, House Republicans will continue to fight to remove the ACORN payback and any other Democratic poison-pills from the economic rescue package.

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