[Congressional Record Volume 147, Number 47 (Tuesday, April 3, 2001)]
[House]
[Pages H1380-H1384]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


 PRINTING OF REVISED AND UPDATED VERSION OF ``WOMEN IN CONGRESS, 1917-
                                 1990''

  Mr. NEY. Mr. Speaker, I move to suspend the rules and agree to the 
concurrent resolution (H. Con. Res. 66) authorizing the printing of a 
revised and updated version of the House document entitled ``Women in 
Congress, 1917-1990''.
  The Clerk read as follows:

                            H. Con. Res. 66

       Resolved by the House of Representatives (the Senate 
     concurring), 

     SECTION 1. PRINTING OF REVISED VERSION OF ``WOMEN IN 
                   CONGRESS, 1917-1990''.

       (a) In General.--An updated version of House Document 101-
     238, entitled ``Women in Congress, 1917-1990'' (as revised by 
     the Library of Congress), shall be printed as a House 
     document by the Public Printer, with illustrations and 
     suitable binding, under the direction of the Committee on 
     House Administration of the House of Representatives.
       (b) Number of Copies.--In addition to the usual number, 
     there shall be printed 30,700 copies of the document referred 
     to in subsection (a), of which--
       (1) 25,000 shall be for the use of the Committee on House 
     Administration of the House of Representatives; and
       (2) 5,700 shall be for the use of the Committee on Rules 
     and Administration of the Senate.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Ohio (Mr. Ney) and the gentleman from Maryland (Mr. Hoyer) each will 
control 20 minutes.
  The Chair recognizes the gentleman from Ohio (Mr. Ney).
  Mr. NEY. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, before us today we have House Concurrent Resolution 66. 
It is my pleasure to be here today to speak on behalf of this bill 
authorizing the printing of this rich history of women in Congress. It 
is also timely, as we now have a record number of 74 women serving in 
both the House and the Senate in the 107th Congress. Sixty-one women, 
including two delegates, currently serve as Members of the House of 
Representatives, and 13 women serve as Members of the U.S. Senate.
  The first woman elected to Congress was Jeanette Rankin, a Republican 
from Montana. It is not that I planned it that way, Mr. Speaker, but a 
Republican from Montana who served in the House. She was elected on 
November 9, 1916. Amazingly, this was almost 4 years before American 
women won the right to vote in 1920. Since that time, a total of 208 
women have served in Congress with distinction.
  Mr. Speaker, I ask unanimous consent to yield the balance of my time 
for purposes of control to the gentlewoman from Florida (Ms. Ros-
Lehtinen).
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Ohio?
  There was no objection.
  Ms. ROS-LEHTINEN. Mr. Speaker, I yield myself such time as I may 
consume.
  Mr. Speaker, I am very pleased to join the chairman of the committee 
as an original cosponsor of House Concurrent Resolution 66, and I am 
proud to speak in favor of its passage. This resolution authorizes the 
printing of a document which chronicles the contributions of women 
serving in this great body. It provides interesting facts about their 
backgrounds and their careers, which have inspired many, including me, 
to run for Congress and serve the American people.
  It talks about women, such as my predecessor, Ruth Bryan Owen. She 
was the first woman Member from Florida. I am proud to be the second 
woman Member from Florida. She served from 1929 to 1933; and she was, 
as this book points out, the daughter of the peerless leader, three-
time Presidential nominee William Jennings Bryan.
  We have had women such as Corrine Clairborne Lindy Boggs, for which 
the Ladies' Reading Room is named, from the district of Louisiana, 
elected in March 1973, and honored this body with her presence for many 
years.
  When she was first elected to fill the seat of her late husband, she 
was thoroughly familiar with the world of Capitol Hill and Louisiana 
issues because she had worked side by side with her husband, a 14-term 
representative and a majority leader.
  Lindy Boggs used this experience to serve the people of Louisiana, 
and we are proud that the Ladies' Reading Room is under her name and 
that the administrator of that room, Susan Dean, very proudly is part 
of that women's history in Congress.
  There have also been trail blazers, Mr. Speaker, such as Edith 
Rogers. She was a representative from Massachusetts who served on the 
Committee of Veterans' Affairs in the 80th and 83rd Congress. She 
served with the American Red Cross in the care of disabled World War I 
veterans and served as the personal representative of President Harding 
and President Coolidge before disabled veterans; and interestingly, she 
checked herself into a Boston hospital under an assumed name to avoid 
the publicity of bad health, and she died while serving in this 
Chamber. She was actually reelected during that time on September 10, 
1960.
  She remains to this day the longest serving woman Member in Congress, 
17 terms after replacing her husband.
  Then there is the story that the gentleman from Ohio (Mr. Ney) talked 
about of Jeanette Rankin, Republican of Montana, the first woman Member 
of the House, who voted against U.S. involvement in World War I, was 
defeated after that vote, and then she came back, voted against U.S. 
involvement in World War II and was defeated again.
  Now, there is a very interesting history of women in Congress, Mr. 
Speaker, and without us having the authority to reprint ``The Women in 
Congress, 1917-1990,'' we will be missing a piece of our Nation's 
history.
  Mr. HOYER. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I am delighted to support this concurrent resolution 
introduced during Women's History Month by my distinguished friend, the 
gentlewoman from Ohio (Ms. Kaptur). The gentlewoman has consistently 
led this House on issues related to women. I want to thank her for 
introducing this resolution, highlighting the need to revise and 
reprint this important volume to which the gentlewoman from Florida 
(Ms. Ros-Lehtinen) has already referred.
  I also want to thank the chairman for his strong support and for 
bringing the measure to the floor so quickly. Since the publication of 
``Women in Congress,'' the number of women who have served has risen by 
more than 61 percent, from 129 in 1990 to 208 today. That is a 
remarkable rise in just 11 years.
  It demonstrates, Mr. Speaker, the profound contribution that American 
women are now able to make to the public life of our great country, and 
indeed that they have made throughout the history of this Nation. We 
must remember that it was not always so.
  There is an extraordinary woman whose name is Margaret Brent. 
Margaret Brent was one of the first women lawyers in the colony, one of 
the first women landholders. She comes from Maryland, St. Mary's 
County, and she was the adviser to our governor back in the 17th 
century.
  She was made a member of the Governor's Council; added to the 
legislature, but they would not give her a vote. They would not give 
her a vote, of course, because she was a woman. She is not in this 
book; but if she lived today, she clearly would be.
  We must remember that for too long we discriminated against women in 
this Nation. It is almost hard to believe that it was not until the 
third decade of the last century that women were given the vote in 
America by constitutional amendment.
  Although the 107th Congress includes a record 74 women, Mr. Speaker, 
there were no women, not one, in the 1st Congress or the 14th or the 
24th, or the 44th, or even the 64th Congress, 128 years into the 
history of the Congress of the United States.
  Not until, Mr. Speaker, the 65th Congress, that met in 1917, during 
the 129th year, did a woman, Jeanette Rankin of Montana, take the oath 
of office as a Representative. It was not until 1922, during the 67th 
Congress, that a woman, Rebecca Felton of Georgia, took the oath as a 
Senator.
  Of the more than 11,600 individuals who have served in the two Houses 
since 1789, fewer than 2 percent have been women.
  Ironically, when Representative Rankin first took her seat in this 
House, women had not yet secured the right to vote nationwide.

[[Page H1381]]

                              {time}  1645

  This most cherished right of citizenship was not guaranteed for all 
American women until the ratification of the 19th Amendment in 1920. 
How stark a fact, Mr. Speaker, that is. We quote, and I do as well, 
Jefferson's historic observation that all men are created equal and 
endowed by their Creator with certain inalienable rights. What a lesson 
it is for us that even in stirring rhetoric, our vision can be limited. 
Even at a time when we think we are reaching out to all, our rhetoric 
may exclude many. It is a lesson for us, because clearly Thomas 
Jefferson was one of the great democrats with a small ``D'' in the 
history of the world. But even Jefferson was blind to the 
discrimination that existed, not only against women, but against 
African Americans, most of whom when he intoned those words were still 
perceived as chattels, not human beings. How sad, but how instructive, 
that is.
  Mr. Speaker, during the first 128 years under our present 
Constitution, no woman's voice could be heard in debate here. The 
experiences, perspectives, hopes and dreams of America's women were not 
voiced in this body by a woman. However, hopefully, and I believe they 
were expressed by men, but imperfectly so, because it is very difficult 
for us to walk in one another's shoes if we have a gender difference or 
a color difference, or even a religious or national difference. It is 
impossible to know how the absence of women may have affected the 
deliberations of the first 64 Congresses of the United States. Common 
sense, however, suggests the effect was not beneficial.
  Fortunately, today, women not only can, but do, contribute in a 
direct, vital and historic way to the deliberations of this Congress 
and other policymaking bodies throughout the Federal, State and local 
governments. This is as it should be and as it should have been from 
the beginning.
  As we move forward, Mr. Speaker, more women will have the opportunity 
to serve in Congress and other public offices throughout the land, 
strengthening and enriching our democracy. This, too, is as it should 
be. If I know anything about women in Congress, it is that there are 
not enough.
  Mr. Speaker, a new edition of ``Women in Congress'' will gather in 
one updated volume useful, historical information for teachers, 
students and others, chronicling the careers of the 208 women who have 
served in either House to date. I am proud to support this resolution 
which is cosponsored by all of the women of this House. As we enter the 
21st Century, we must continue to mark the progress and substantial 
contribution that women are making in this, the most democratic 
legislative body on Earth, but, I might observe, not the body that has 
the highest percentage of women. I am confident the new volume will 
quickly become, like the previous edition, a tremendous historical 
resource, inspiring young women across America to seek careers in 
public service that may one day bring them all, or many of them, to 
this hallowed hall.
  Mr. Speaker, I urge the Members of the House to support this 
concurrent resolution unanimously.
  Mr. Speaker, I reserve the balance of my time.
  Ms. ROS-LEHTINEN. Mr. Speaker, we have another speaker before I 
close, so I reserve the balance of my time because she has not arrived 
yet.
  Mr. HOYER. Mr. Speaker, I yield 5 minutes to the gentlewoman from 
Ohio (Ms. Kaptur). I use ``gentleman'' and ``gentlewoman'' as a term of 
endearment that we use to speak of one another, but no one ought to 
misread that phrase. She is strong, she is courageous, she is tough, 
she is focused, and she is effective. She has added to this 
institution, as so many of the women in this book have. Mr. Speaker, 
she is the dean, the senior, not the oldest, he stresses, but the dean 
of the Democratic women in the House of Representatives.
  (Ms. KAPTUR asked and was given permission to revise and extend her 
remarks.)
  Ms. KAPTUR. Mr. Speaker, I thank my good friend from Maryland for 
those overly generous introductory remarks. I will read them in my 
lower moments.
  Mr. Speaker, I rise in strong support of Concurrent Resolution 66 and 
offer my deep appreciation to the gentleman from Maryland (Mr. Hoyer), 
who is the ranking member of the subcommittee that is moving this 
legislation to the floor. I thank him for his consistent and strong and 
forceful support of women's issues here in this Congress, including the 
publication of the History of Women's Service to our Nation at the 
Federal level.
  I would also like to thank the gentleman from Ohio (Mr. Ney). Ohio is 
the first State in the Union through Oberlin College to admit women to 
higher education. We thank both of these really wonderful men for 
allowing us--the women of America--to walk alongside them as we move 
onward in this 21st century. If other matters in this institution 
flowed through such capable hands as the gentleman's from Maryland (Mr. 
Hoyer) and the gentleman's from Ohio (Mr. Ney), I think we could move 
other bills through this Congress in a more expeditious fashion. The 
entire Nation would be more properly served.
  Mr. Speaker, let me point out that 11 years ago when the 101st 
Congress marked the bicentenary of this institution, the volume that 
the gentleman from Maryland (Mr. Hoyer) referenced, Women in Congress, 
1917 to 1990, was published. The second most senior Congresswoman in 
the House then, Congresswoman Lindy Boggs of Louisiana, who later was 
appointed as the first woman Ambassador to the Vatican, took 
responsibility for the printing of that document.
  Since that time, another 79 women have served. Thus a new edition of 
Women of Congress will gather in one updated volume information for 
teachers, students and future Members of this body, information about 
the 208 women out of the nearly 12,000 Americans that have served in 
this institution to date, throughout all of America's history, 
including the 61 who now serve here in the House.
  Mr. Speaker, I see that the gentlewoman from California (Ms. 
Millender-McDonald) and the gentlewoman from Florida (Ms. Ros-Lehtinen) 
and the gentlewoman from Maryland (Mrs. Morella) are here with us this 
afternoon. They really are a part of a very new, but growing and 
important part of American history.
  We currently have 74 women serving in both the House and the Senate. 
Mr. Speaker, this would actually be a reprint of that original version, 
and the resolution for this was entered this past March during Women's 
History Month.
  Let me say it is a particular privilege to remind our colleagues that 
this resolution is cosponsored by every single woman serving in the 
House, as well as every other single Member of the House Committee on 
Administration. I deeply thank every one of them, especially the 
gentleman from Maryland (Mr. Hoyer), who has been a force inside this 
institution for equal voices for women, and the gentleman from Ohio 
(Mr. Ney) for allowing us to participate in this introduction and 
passage today.
  During the first 128 years of America's history, no woman served in 
either House of this Congress for nearly a century and a quarter. 
Finally, in the early years of this past century, the 20th century, 
after decades of struggle for women's political and social equality, we 
began to see some fruit be born. In 1917, Jeanette Rankin of Montana 
became the first woman to serve in this House of Representatives, and 
then 5 years later, Rebecca Felton of Georgia became the first woman 
Senator. So, for our entire history, the written word and the spoken 
word of women in political environments is still very fresh and very 
new.
  Since Representatives Rankin and Felton broke the congressional 
gender barrier, dozens of women have followed in their footsteps. We 
wait for the day when it will be thousands.
  Mr. Speaker, as we enter the 21st century, the time has come to 
update and reprint ``Women in Congress.'' With it America marks the 
progress and substantial contribution that women are making in this 
most democratic legislative body on Earth.
  I am confident that a revised volume will quickly become, like the 
previous edition, a tremendous historical resource and serve to inspire 
readers across America to seek careers in public service. I hope my 
colleagues in the House support this resolution. It is important 
especially that we do this and thus introduced this resolution during 
Women's History Month in March; and thus the concurrent

[[Page H1382]]

resolution that I have introduced would provide for the reprinting of 
that revised edition of the House document.
  Mr. Speaker, I would ask my colleagues to support this resolution to 
reprint and update the edition of Women in Congress, 1917 to 1990, to 
make it current for this new 21st century, when all opportunities are 
available to young women and men across our country, and, indeed, 
America is an ideal for so much of the world to follow.
  Mr. HOYER. Mr. Speaker, I yield myself such time as I may consume to 
thank the gentlewoman from Ohio (Ms. Kaptur) for her remarks. She does 
credit to this Congress, credit to Ohio, credit to her district, and 
certainly credit to her gender. It is a privilege to be her colleague 
in the Congress of the United States.
  Mr. Speaker, I yield 3 minutes to the gentlewoman from California 
(Ms. Millender-McDonald), cochair of the Congressional Caucus for 
Womens' Issues, who herself does an extraordinary job.
  Ms. MILLENDER-McDONALD. Mr. Speaker, I, too, would like to lend my 
support and thanks to the chairman and the ranking member, those two 
men who have seen the need and who have been very sensitive to the 
women of this House and past women by bringing this H. Con. Res. 66 to 
the House today.
  I rise, Mr. Speaker, to support this resolution concerning the 
revision of the document, Women in Congress, 1917 to 1990. This book 
chronicles the biographies of the 129 women who served in the House and 
Senate during that period, but since that printing, another 79 women 
have served in Congress. The contributions of these women need to be 
recorded for present-day significance and posterity.
  The outstanding women who served and are serving in the House and 
Senate come from different walks of life. They are lawyers, teachers, 
social workers, mothers, doctors, veterans, child care providers, 
grandmothers, all serving in various roles and serving in this House. 
Their stories need to be told.
  We will begin with Jeanette Rankin, the first woman to be elected to 
the U.S. House of Representatives in March of 1917, 3 years before the 
ratification of the 19th amendment, which gave women the right to vote. 
Another pioneer was Edith Nourse Rogers, who served in Congress from 
1925 to 1960 for a total of 35 years until her death. Shirley Chisholm 
broke the color barrier in 1969 when she became the first African 
American woman elected to the House, and Carol Moseley-Braun was the 
first African American woman in the Senate. These women and all women 
serve in Congress as role models for current and future generations of 
girls and women.
  We want and need women to pursue public service in all segments of 
government, especially in the House and Senate. We are 61 strong in the 
House and 13 in the Senate, which makes up 74, and we want to see those 
numbers grow. As the cochair of the Congressional Caucus on Women's 
Issues, we are certainly the voice of American women, monitoring 
legislation that addresses their health, education, children, child 
care and family needs.

                              {time}  1700

  Women have come to appreciate the advocacy of our work. While we have 
achieved many victories since 1917, Mr. Speaker, we still have a long 
way to go, especially in the area of pay equity and health research and 
delivery.
  Today being Pay Equity Day, Congress has not been able to 
successfully pass legislation to make sure that women receive equal pay 
for comparable work. So our job is not over. We will not rest until our 
daughters and granddaughters obtain the right to be paid equally for 
comparable work.
  Mr. Speaker, we thank all of the outstanding men who have brought 
this to the floor today.
  Ms. ROS-LEHTINEN. Mr. Speaker, I am very proud to yield 3 minutes to 
the gentlewoman from Maryland (Mrs. Morella).
  (Mrs. MORELLA asked and was given permission to revise and extend her 
remarks.)
  Mrs. MORELLA. It is a pleasure for me to appear, Mr. Speaker, to 
express my support for this concurrent resolution.
  I want to thank my colleague, the gentlewoman from Ohio (Ms. Kaptur), 
for bringing the issue to the floor. I want to thank our ranking 
member, the gentleman from Maryland (Mr. Hoyer), who is handling the 
bill, and certainly the gentlewoman from Florida (Ms. Ros-Lehtinen) for 
handling the bill on the majority side.
  One hundred years ago, the 101st Congress printed ``Women in 
Congress, 1917-1990,'' a collection of photographs and biographies of 
the 129 women who had served in the House and Senate.
  Since 1989, 79 women have been elected to Congress. Printing a new 
edition of ``Women in Congress'' makes sense. It would update this 
historical information for teachers, students, and others about the 208 
women who have served to date, including the 61 now in the House and 13 
in the Senate.
  Mention has been made by my colleague about the first woman who was 
elected to Congress, who, incidentally, was a Republican, Jeannette 
Rankin from the State of Montana, who was elected before women had the 
right to vote. They could vote in her State, but they could not vote 
nationally until 1920. Incidentally, she voted against two world wars, 
so she was an historic figure.
  There was Edith Nourse Rogers, who holds the record for length of 
service by a woman in Congress, 35 years in the House.
  But Mr. Speaker, we need to also do some correcting in the new 
edition. For instance, my colleague, the gentlewoman from Florida (Ms. 
Ros-Lehtinen), was actually elected in 1989, and she is the first 
Hispanic woman elected to the U.S. House of Representatives.
  Equally necessary as recognizing trailblazers is recognizing the 
women who, in 2001, fill only 13 percent of the elected Federal 
positions. So even though we think that we have added a lot of women, 
we still only have 13 percent of elected Federal positions.
  I really believe that despite this disparity in representation, these 
women in Congress also serve as role models. I think it is very 
important that they have that opportunity to demonstrate to other young 
women that they, too, can serve their country in public service. By 
updating the ``Women in Congress'' publication and sharing our stories 
with schools, libraries, and constituents, we help to open doors for 
those who will follow and lead.
  I urge my colleagues to support this House concurrent resolution. 
Again, I thank the gentlewoman from Ohio (Ms. Kaptur) for introducing 
it.
  Ms. ROS-LEHTINEN. Mr. Speaker, I yield myself such time as I may 
consume.
  As has been pointed out time and time again in our conversations, in 
1989, the first time that this book was authorized to be printed as a 
House document, there were only 31 women serving in the Congress; 29 in 
the House, two in the Senate. Since that time, the number of women 
serving in each body has steadily increased, although not fast enough.
  As the gentlewoman from Maryland (Mrs. Morella) pointed out, 70 women 
have served in Congress throughout just the last 10 years, the last 
time that this book was published.
  But numbers alone do not adequately tell the story. That is why the 
printing of this book and this history is so important. It memorializes 
in detail and with illustrations the invaluable contributions women 
have made for many years as Members of Congress. Each in different and 
invaluable ways has made and continues to make a tremendous 
contribution to our country, and particularly to the constituents whom 
we serve.
  There is no question that each has made an everlasting difference to 
Congress as an institution, and to the many issues which they have 
advocated, and indeed, have arisen before this body and our Nation.
  I want to thank in particular the sponsors of the bill, including the 
gentlewoman from Ohio (Ms. Kaptur), and additionally I would like to 
thank all of the cosponsors, including the members of the Committee on 
the House Administration, both on the majority, the gentleman from Ohio 
(Mr. Ney), and the minority, the gentleman from Maryland (Mr. Hoyer), 
and their staffs, who have worked so hard to bring this bill to the 
floor today.
  Although I love and respect the gentlewoman from Ohio (Ms. Kaptur), I

[[Page H1383]]

would like to point out that the dean of the women in Congress is in 
fact the gentlewoman from New Jersey (Mrs. Roukema), a Republican.
  I hope that soon one of our newest members of the United States 
Congress is the one sitting right behind me, Patricia Lehtinen, my 
daughter, who I hope will serve in my district, and I hope that my 
constituents bring me back many years to come.
  Mr. Speaker, I reserve the balance of my time.
  Mr. HOYER. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, it looks to me like the young Ms. Lehtinen is probably 
10, 11, 12 years old?
  Ms. ROS-LEHTINEN. Mr. Speaker, will the gentleman yield?
  Mr. HOYER. I yield to the gentlewoman from Florida.
  Ms. ROS-LEHTINEN. Mr. Speaker, I would tell the gentleman from 
Maryland, she is 13.
  Mr. HOYER. Mr. Speaker, I apologize. I am a long way away.
  That means that apparently our distinguished acting chair intends to 
serve at least another 12 years.
  Ms. ROS-LEHTINEN. If the gentleman will continue to yield, Mr. 
Speaker, perhaps we could add a little amendment to the United States 
Constitution and make that change. I thank the gentleman.
  Mr. HOYER. I thank the gentlewoman.
  Mr. Speaker, last week we passed a resolution which would update the 
book which includes African Americans; or actually, 2 weeks ago. This 
week we will appropriately recognize the women who have served.
  As the father of three daughters, all adults, and a grandfather of 
two young women as well as two young men, those who have said that the 
women who serve are role models I think are absolutely correct, not 
only for young women who may want to go into public service, but for 
young women who aspire to reach the heights that their talents will 
allow them to. It is important that we nurture in these extraordinary 
American women the ability to succeed; the ability to make a very 
significant contribution; the ability to be equal, as Jefferson surely 
would have said today.
  So I am pleased to rise in support of this resolution. It is 
appropriate, it is timely, and it is important for all Americans.
  Mr. ROGERS of Michigan. Mr. Speaker, I rise today to support 
legislation that would abolish a Depression-era ban that prevents banks 
from offering interest on business checking accounts. Small businesses 
are hit particularly hard by the current prohibition, because they are 
typical unable to help larger depositors circumvent the prohibition. 
While larger businesses have the financial resources to use sweep 
arrangements, these products are not offered to small businesses 
because they cannot make the minimum investment necessary to 
participate in ``sweeps.''
  As part of a small, family-owned home building business in Michigan, 
I know firsthand how slim the margins of operating a small business can 
be. This is why the Small Business Interest Checking Act is so 
important to our hometown retailers and businesses because it would 
give these smaller operations the opportunity to finally earn a much-
needed market rate of return on their deposits. And any businessman or 
women in the country will tell you what a difference an extra 
percentage or two can make to their bottom line.
  As approved by the Committee on Financial Services, the Small 
Business Interest Checking Act contains language completely repealing 
the prohibition two years after enactment. The phase-in is included to 
assist institutions that currently offer sweep account arrangements, 
which are often based on multi-year contractual agreements. While I am 
personally of the preference that small business would benefit the most 
from legislation providing banks the voluntary option to pay interest 
on business checking accounts without a delay, I strongly support H.R. 
974 and encourage my House colleagues do the same.
  Mr. ROYCE. Mr. Speaker, I rise in support of H.R. 974 and I would 
like to take just a moment to address a provision affecting the twenty-
two industrial banks in my State of California.
  Chairman Oxley was good enough to include in the Committee reported 
version of H.R. 974 a provision I requested offering a measure of 
equity and fairness to these twenty-two industrial banks as we 
implement a national policy permitting interest on business checking 
accounts. I want to thank him and his staff for their assistance in 
this matter.
  This provision, in Section 3 of H.R. 974, has now been amended to 
reflect comments offered by the Federal Reserve. The provision amends 
the Federal Deposit Insurance Act by adding a new paragraph (3) to 
Section 2 of that Act (PL-93-100).
  H.R. 974 would therefore permit a California industrial bank to offer 
to any account holder, including a business entity, interest bearing 
negotiable orders of withdrawal--commonly called NOW accounts--so long 
as applicable California law continues to prohibit industrial banks 
from offering demand deposit accounts--which it does, and so long as 
the California industrial bank is not an affiliate of any company or 
companies whose aggregate assets are more than ten percent of the total 
assets of that particular industrial bank.
  As a practical matter, I believe this provision would enable all of 
California's twenty-two industrial banks to offer NOW accounts to 
business entities, if they so choose.
  California industrial bank law has been--and remains in its most 
recent reform--explicit in its prohibition against industrial banks 
accepting demand deposit (checking) accounts. Also, for the most part, 
California's industrial banks are small depository institutions and few 
have operating subsidiaries or own other companies. It is also 
apparently the case that no California industrial bank currently has 
operating subsidiaries or owns a company or companies whose aggregate 
assets exceed 10% of that bank's total assets. While this later 
limitation may be somewhat restrictive with respect to the growth of 
any existing operating subsidy, or the addition of operating subsidies 
in the future, California's industrial banks have indicated they are 
prepared to work within this particular limitation.
  Finally, it is important to note that those few California industrial 
banks currently choosing to offer NOW accounts to individuals and 
charitable organizations are subject to regulations, including standard 
reserve requirements, promulgated by the Federal Reserve System. In 
permitting these industrial banks to also offer NOW accounts to 
business entities, H.R. 974 changes none of these requirements.
  I thank the distinguished Manager for permitting me to make this 
clarification and for his support of fairness and equity for 
California's industrial banks.
  Ms. WATERS. Mr. Speaker, I strongly oppose H.R. 974, the Small 
Business Checking Act of 2001, which represents an example of mixed-up 
budget priorities. It is particularly inappropriate to consider this 
extraordinarily unbalanced legislation under suspension of the rules, 
denying my colleagues who are not members of the Financial Services 
Committee an opportunity to have their concerns addressed.
  I agree that the Depression-era ban on interest-bearing business 
checking accounts serves no public policy purpose, and I would have 
supported repeal of the prohibition, provided it had been accomplished 
in a clean bill. However, I cannot in good conscience support this bill 
because it contains a provision that results in a transfer of taxpayer 
money to a very small segment of the country's largest and most 
powerful depository institutions, while other budget priorities are 
left unfunded or underfunded.
  The provision permitting the Federal Reserve banks to pay interest on 
the sterile reserves maintained by depository institutions in Federal 
Reserve Banks will result in the annual transfer of about $100 million 
in real taxpayer dollars to about 1700 of the approximately 21,000 
depository institutions in this country. Thirty of the largest, most 
powerful financial institutions will receive one-third of the interest 
that the Federal Reserve Banks will pay out each year.
  The Administration has proposed a broad-based tax cut proposal that 
will consume $2 trillion of the budget surplus. We do not know how we 
will pay for the President's tax cut, while meeting the other budget 
priorities of the Administration, addressing critical needs of the 
American public, paying down the debt and protecting Social Security 
and Medicare. Yet, the Small Business Checking Act will make the job 
harder by using $1.1 billion of the surplus over ten years to provide a 
benefit to a very small subset of the American taxpayers. The $1.1 
billion could be put to better use by providing adequate funding for 
combating AIDS in Africa or restoring part of the $2 billion in housing 
cuts the Administration has proposed or, even, tax relief for the 
average taxpayer.
  Mr. HOYER. Mr. Speaker, I yield back the balance of my time.
  Ms. ROS-LEHTINEN. Mr. Speaker, I yield back the balance of my time.
  The SPEAKER pro tempore (Mr. Shays). The question is on the motion 
offered by the gentlewoman from Florida (Ms. Ros-Lehtinen) that the 
House suspend the rules and agree to the concurrent resolution, H. Con. 
Res. 66.
  The question was taken.
  The SPEAKER pro tempore. In the opinion of the Chair, two-thirds of 
those present have voted in the affirmative.
  Mr. HOYER. Mr. Speaker, on that I demand the yeas and nays.

[[Page H1384]]

  The yeas and nays were ordered.
  The SPEAKER pro tempore. Pursuant to clause 8 of rule XX and the 
Chair's prior announcement, further proceedings on this motion will be 
postponed.

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