[Congressional Record Volume 157, Number 195 (Saturday, December 17, 2011)]
[Senate]
[Pages S8748-S8753]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
MIDDLE CLASS TAX RELIEF AND JOB CREATION ACT OF 2011
The ACTING PRESIDENT pro tempore. Under the previous order, the
Senate will proceed to the consideration of H.R. 3630, which the clerk
will report by title.
The legislative clerk read as follows:
A bill (H.R. 3630) to provide incentives for the creation
of jobs, and for other purposes.
Amendment No. 1465
Mr. REID. Mr. President, I have an amendment at the desk.
The ACTING PRESIDENT pro tempore. The clerk will report the
amendment.
The legislative clerk read as follows:
The Senator from Nevada [Mr. Reid], for himself and Mr.
McConnell, proposes an amendment numbered 1465.
The amendment is printed in today's Record under ``Text of
Amendments.''
The ACTING PRESIDENT pro tempore. Under the previous order, the
question is on agreeing to the amendment, which is subject to a 60-vote
threshold.
Mr. REID. Mr. President, I ask for the yeas and nays.
The ACTING PRESIDENT pro tempore. Is there a sufficient second?
There is a sufficient second.
The clerk will call the roll.
The assistant legislative clerk called the roll.
Mr. KYL. The following Senator is necessarily absent: the Senator
from Kentucky (Mr. Paul).
The ACTING PRESIDENT pro tempore. Are there any other Senators in the
Chamber desiring to vote?
The result was announced--yeas 89, nays 10, as follows:
[Rollcall Vote No. 232 Leg.]
YEAS--89
Akaka
Alexander
Ayotte
Barrasso
Baucus
Begich
Bennet
Bingaman
Blumenthal
Blunt
Boozman
Boxer
Brown (MA)
Brown (OH)
Burr
Cantwell
Cardin
Carper
Casey
Chambliss
Coats
Coburn
Cochran
Collins
Conrad
Coons
Cornyn
Crapo
Durbin
Enzi
[[Page S8749]]
Feinstein
Franken
Gillibrand
Graham
Grassley
Hagan
Harkin
Hatch
Heller
Hoeven
Hutchison
Inhofe
Inouye
Isakson
Johanns
Johnson (SD)
Kerry
Klobuchar
Kohl
Kyl
Landrieu
Lautenberg
Lee
Levin
Lieberman
Lugar
McCain
McCaskill
McConnell
Menendez
Merkley
Mikulski
Murkowski
Murray
Nelson (NE)
Nelson (FL)
Portman
Pryor
Reed
Reid
Risch
Roberts
Rockefeller
Rubio
Schumer
Shaheen
Snowe
Stabenow
Tester
Thune
Toomey
Udall (CO)
Udall (NM)
Vitter
Warner
Webb
Whitehouse
Wicker
Wyden
NAYS--10
Corker
DeMint
Johnson (WI)
Kirk
Leahy
Manchin
Moran
Sanders
Sessions
Shelby
NOT VOTING--1
Paul
The ACTING PRESIDENT pro tempore. On this vote, the yeas are 89, the
nays are 10. Under the previous order requiring 60 votes for the
adoption of the amendment, the amendment is agreed to.
The amendment was ordered to be engrossed and the bill to be read a
third time.
The bill was read the third time.
The ACTING PRESIDING pro tempore. Under the previous order, H.R.
3630, as amended, is passed, as follows:
H.R. 3630
Resolved, That the bill from the House of Representatives
(H.R. 3630) entitled ``An Act to provide incentives for the
creation of jobs, and for other purposes.'', do pass with the
following amendments:
Strike all after the enacting clause and insert the
following:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Temporary
Payroll Tax Cut Continuation Act of 2011''.
(b) Table of Contents.--The table of contents of this Act
is as follows:
Sec. 1. Short title; table of contents.
TITLE I--TEMPORARY PAYROLL TAX RELIEF
Sec. 101. Extension of payroll tax holiday.
TITLE II--TEMPORARY EXTENSION OF UNEMPLOYMENT COMPENSATION PROVISIONS
Sec. 201. Temporary extension of unemployment compensation provisions.
Sec. 202. Extended unemployment benefits under the Railroad
Unemployment Insurance Act.
TITLE III--TEMPORARY EXTENSION OF HEALTH PROVISIONS
Sec. 301. Medicare physician payment update.
Sec. 302. 2-month extension of MMA section 508 reclassifications.
Sec. 303. Extension of Medicare work geographic adjustment floor.
Sec. 304. Extension of exceptions process for Medicare therapy caps.
Sec. 305. Extension of payment for technical component of certain
physician pathology services.
Sec. 306. Extension of ambulance add-ons.
Sec. 307. Extension of physician fee schedule mental health add-on
payment.
Sec. 308. Extension of outpatient hold harmless provision.
Sec. 309. Extending minimum payment for bone mass measurement.
Sec. 310. Extension of the qualifying individual (QI) program.
Sec. 311. Extension of Transitional Medical Assistance (TMA).
Sec. 312. Extension of the temporary assistance for needy families
program.
TITLE IV--MORTGAGE FEES AND PREMIUMS
Sec. 401. Guarantee Fees.
Sec. 402. FHA guarantee fees.
TITLE V--OTHER PROVISIONS
Subtitle A--Keystone XL Pipeline
Sec. 501. Permit for Keystone XL pipeline.
Subtitle B--Budgetary Provisions
Sec. 511. Senate point of order against an emergency designation.
Sec. 512. PAYGO scorecard estimates.
TITLE I--TEMPORARY PAYROLL TAX RELIEF
SEC. 101. EXTENSION OF PAYROLL TAX HOLIDAY.
(a) In General.--Subsection (c) of section 601 of the Tax
Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010 (26 U.S.C. 1401 note) is amended to read
as follows:
``(c) Payroll Tax Holiday Period.--The term `payroll tax
holiday period' means--
``(1) in the case of the tax described in subsection
(a)(1), calendar years 2011 and 2012, and
``(2) in the case of the taxes described in subsection
(a)(2), the period beginning January 1, 2011, and ending
February 29, 2012.''.
(b) Special Rules for 2012.--Section 601 of such Act (26
U.S.C. 1401 note) is amended by adding at the end the
following new subsection:
``(f) Special Rules for 2012.--
``(1) Limitation on wages and self-employment income.--In
the case of--
``(A) any taxable year beginning in 2012, subsection (a)(1)
shall only apply with respect to so much of the taxpayer's
self-employment income (as defined in section 1402(b) of the
Internal Revenue Code of 1986) as does not exceed the excess
(if any) of--
``(i) $18,350, over
``(ii) the amount of wages and compensation taken into
account under subparagraph (B), and
``(B) any remuneration received during the portion of the
payroll tax holiday period occurring during 2012, subsection
(a)(2) shall only apply to so much of the sum of the
taxpayer's wages (as defined in section 3121(a) of such Code)
and compensation (as defined section 3231(e) of such Code) as
does not exceed $18,350.
``(2) Coordination with deduction for employment taxes.--In
the case of a taxable year beginning in 2012, subparagraph
(A) of subsection (b)(2) shall be applied as if it read as
follows:
`` `(A) the sum of--
`` `(i) 59.6 percent of the portion of such taxes
attributable to the tax imposed by section 1401(a) of such
Code (determined after the application of this section) on so
much of self-employment income (as defined in section 1402(b)
of such Code) as does not exceed the amount of self-
employment income described in paragraph (1)(A), plus
`` `(ii) one-half of the portion of such taxes attributable
to the tax imposed by section 1401(a) of such Code
(determined without regard to this section) on self-
employment income (as so defined) in excess of such amount,
plus'.''
(c) Technical Amendments.--Paragraph (2) of section 601(b)
of such Act (26 U.S.C. 1401 note) is amended--
(1) by inserting ``of such Code'' after ``164(f)'',
(2) by inserting ``of such Code'' after ``1401(a)'' in
subparagraph (A), and
(3) by inserting ``of such Code'' after ``1401(b)'' in
subparagraph (B).
(d) Effective Dates.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to remuneration
received, and taxable years beginning, after December 31,
2011.
(2) Technical amendments.--The amendments made by
subsection (c) shall take effect as if included in the
enactment of section 601 of the Tax Relief, Unemployment
Insurance Reauthorization, and Job Creation Act of 2010.
TITLE II--TEMPORARY EXTENSION OF UNEMPLOYMENT COMPENSATION PROVISIONS
SEC. 201. TEMPORARY EXTENSION OF UNEMPLOYMENT COMPENSATION
PROVISIONS.
(a) In General.--(1) Section 4007 of the Supplemental
Appropriations Act, 2008 (Public Law 110-252; 26 U.S.C. 3304
note) is amended--
(A) by striking ``January 3, 2012'' each place it appears
and inserting ``March 6, 2012'';
(B) in the heading for subsection (b)(2), by striking
``january 3, 2012'' and inserting ``march 6, 2012''; and
(C) in subsection (b)(3), by striking ``June 9, 2012'' and
inserting ``August 15, 2012''.
(2) Section 2005 of the Assistance for Unemployed Workers
and Struggling Families Act, as contained in Public Law 111-5
(26 U.S.C. 3304 note; 123 Stat. 444), is amended--
(A) by striking ``January 4, 2012'' each place it appears
and inserting ``March 7, 2012''; and
(B) in subsection (c), by striking ``June 11, 2012'' and
inserting ``August 15, 2012''.
(3) Section 5 of the Unemployment Compensation Extension
Act of 2008 (Public Law 110-449; 26 U.S.C. 3304 note) is
amended by striking ``June 10, 2012'' and inserting ``August
15, 2012''.
(4) Section 203 of the Federal-State Extended Unemployment
Compensation Act of 1970 (26 U.S.C. 3304 note) is amended--
(A) in subsection (d), in the second sentence of the flush
matter following paragraph (2), by striking ``December 31,
2011'' and inserting ``February 29, 2012''; and
(B) in subsection (f)(2), by striking ``December 31, 2011''
and inserting ``February 29, 2012''.
(b) Funding.--Section 4004(e)(1) of the Supplemental
Appropriations Act, 2008 (Public Law 110-252; 26 U.S.C. 3304
note) is amended--
(1) in subparagraph (F), by striking ``and'' at the end;
and
(2) by inserting after subparagraph (G) the following:
``(H) the amendments made by section 201(a)(1) of the
Temporary Payroll Tax Cut Continuation Act of 2011; and''.
(c) Effective Date.--The amendments made by this section
shall take effect as if included in the enactment of the Tax
Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010 (Public Law 111-312).
SEC. 202. EXTENDED UNEMPLOYMENT BENEFITS UNDER THE RAILROAD
UNEMPLOYMENT INSURANCE ACT.
(a) Extension.--Section 2(c)(2)(D)(iii) of the Railroad
Unemployment Insurance Act, as added by section 2006 of the
American Recovery and Reinvestment Act of 2009 (Public Law
111-5) and as amended by section 9 of the Worker,
Homeownership, and Business Assistance Act of 2009 (Public
Law 111-92) and section 505 of the Tax Relief, Unemployment
Insurance Reauthorization, and Job Creation Act of 2010
(Public Law 111-312), is amended--
(1) by striking ``June 30, 2011'' and inserting ``August
31, 2011''; and
(2) by striking ``December 31, 2011'' and inserting
``February 29, 2012''.
(b) Clarification on Authority to Use Funds.--Funds
appropriated under either the first or second sentence of
clause (iv) of section 2(c)(2)(D) of the Railroad
Unemployment Insurance Act shall be available to cover the
cost of additional extended unemployment benefits provided
under such section 2(c)(2)(D) by reason of the amendments
made by subsection (a) as well as to cover the cost of such
benefits provided under such section 2(c)(2)(D), as in effect
on the day before the date of the enactment of this Act.
[[Page S8750]]
TITLE III--TEMPORARY EXTENSION OF HEALTH PROVISIONS
SEC. 301. MEDICARE PHYSICIAN PAYMENT UPDATE.
Section 1848(d) of the Social Security Act (42 U.S.C.
1395w-4(d)) is amended by adding at the end the following new
paragraph:
``(13) Update for first two months of 2012.--
``(A) In general.--Subject to paragraphs (7)(B), (8)(B),
(9)(B), (10)(B), (11)(B), and (12)(B), in lieu of the update
to the single conversion factor established in paragraph
(1)(C) that would otherwise apply for the period beginning on
January 1, 2012, and ending on February 29, 2012, the update
to the single conversion factor shall be zero percent.
``(B) No effect on computation of conversion factor for
remaining portion of 2012 and subsequent years.--The
conversion factor under this subsection shall be computed
under paragraph (1)(A) for the period beginning on March 1,
2012, and ending on December 31, 2012, and for 2013 and
subsequent years as if subparagraph (A) had never applied.''.
SEC. 302. 2-MONTH EXTENSION OF MMA SECTION 508
RECLASSIFICATIONS.
(a) In General.--Section 106(a) of division B of the Tax
Relief and Health Care Act of 2006 (42 U.S.C. 1395 note), as
amended by section 117 of the Medicare, Medicaid, and SCHIP
Extension Act of 2007 (Public Law 110-173), section 124 of
the Medicare Improvements for Patients and Providers Act of
2008 (Public Law 110-275), sections 3137(a) and 10317 of the
Patient Protection and Affordable Care Act (Public Law 111-
148), and section 102(a) of the Medicare and Medicaid
Extenders Act of 2010 (Public Law 111-309), is amended by
striking ``September 30, 2011'' and inserting ``November 30,
2011''.
(b) Special Rule for October and November 2011.--
(1) In general.--Subject to paragraph (2), for purposes of
implementation of the amendment made by subsection (a),
including for purposes of the implementation of paragraph (2)
of section 117(a) of the Medicare, Medicaid, and SCHIP
Extension Act of 2007 (Public Law 110-173), for the period
beginning on October 1, 2011, and ending on November 30,
2011, the Secretary of Health and Human Services shall use
the hospital wage index that was promulgated by the Secretary
of Health and Human Services in the Federal Register on
August 18, 2011 (76 Fed. Reg. 51476), and any subsequent
corrections.
(2) Exception.--In determining the wage index applicable to
hospitals that qualify for wage index reclassification, the
Secretary shall, for the period beginning on October 1, 2011,
and ending on November 30, 2011, include the average hourly
wage data of hospitals whose reclassification was extended
pursuant to the amendment made by subsection (a) only if
including such data results in a higher applicable
reclassified wage index. Any revision to hospital wage
indexes made as a result of this paragraph shall not be
effected in a budget neutral manner.
(c) Timeframe for Payments.--The Secretary shall make
payments required under subsections (a) and (b) by not later
than December 31, 2012.
SEC. 303. EXTENSION OF MEDICARE WORK GEOGRAPHIC ADJUSTMENT
FLOOR.
Section 1848(e)(1)(E) of the Social Security Act (42 U.S.C.
1395w-4(e)(1)(E)) is amended by striking ``before January 1,
2012'' and inserting ``before March 1, 2012''.
SEC. 304. EXTENSION OF EXCEPTIONS PROCESS FOR MEDICARE
THERAPY CAPS.
Section 1833(g)(5) of the Social Security Act (42 U.S.C.
1395l(g)(5)) is amended by striking ``December 31, 2011'' and
inserting ``February 29, 2012''.
SEC. 305. EXTENSION OF PAYMENT FOR TECHNICAL COMPONENT OF
CERTAIN PHYSICIAN PATHOLOGY SERVICES.
Section 542(c) of the Medicare, Medicaid, and SCHIP
Benefits Improvement and Protection Act of 2000 (as enacted
into law by section 1(a)(6) of Public Law 106-554), as
amended by section 732 of the Medicare Prescription Drug,
Improvement, and Modernization Act of 2003 (42 U.S.C. 1395w-4
note), section 104 of division B of the Tax Relief and Health
Care Act of 2006 (42 U.S.C. 1395w-4 note), section 104 of the
Medicare, Medicaid, and SCHIP Extension Act of 2007 (Public
Law 110-173), section 136 of the Medicare Improvements for
Patients and Providers Act of 2008 (Public Law 110-275),
section 3104 of the Patient Protection and Affordable Care
Act (Public Law 111-148), and section 105 of the Medicare and
Medicaid Extenders Act of 2010 (Public Law 111-309), is
amended by striking ``and 2011'' and inserting ``2011, and
the first two months of 2012''.
SEC. 306. EXTENSION OF AMBULANCE ADD-ONS.
(a) Ground Ambulance.--Section 1834(l)(13)(A) of the Social
Security Act (42 U.S.C. 1395m(l)(13)(A)) is amended--
(1) in the matter preceding clause (i), by striking
``January 1, 2012'' and inserting ``March 1, 2012''; and
(2) in each of clauses (i) and (ii), by striking ``January
1, 2012'' and inserting ``March 1, 2012'' each place it
appears.
(b) Air Ambulance.--Section 146(b)(1) of the Medicare
Improvements for Patients and Providers Act of 2008 (Public
Law 110-275), as amended by sections 3105(b) and 10311(b) of
Public Law 111-148 and section 106(b) of the Medicare and
Medicaid Extenders Act of 2010 (Public Law 111-309), is
amended by striking ``December 31, 2011'' and inserting
``February 29, 2012''.
(c) Super Rural Ambulance.--Section 1834(l)(12)(A) of the
Social Security Act (42 U.S.C. 1395m(l)(12)(A)) is amended by
striking ``January 1, 2012'' and inserting ``March 1, 2012''.
SEC. 307. EXTENSION OF PHYSICIAN FEE SCHEDULE MENTAL HEALTH
ADD-ON PAYMENT.
Section 138(a)(1) of the Medicare Improvements for Patients
and Providers Act of 2008 (Public Law 110-275), as amended by
section 3107 of the Patient Protection and Affordable Care
Act (Public Law 111-148) and section 107 of the Medicare and
Medicaid Extenders Act of 2010 (Public Law 111-309), is
amended by striking ``December 31, 2011'' and inserting
``February 29, 2012''.
SEC. 308. EXTENSION OF OUTPATIENT HOLD HARMLESS PROVISION.
Section 1833(t)(7)(D)(i) of the Social Security Act (42
U.S.C. 1395l(t)(7)(D)(i)), as amended by section 3121(a) of
the Patient Protection and Affordable Care Act (Public Law
111-148) and section 108 of the Medicare and Medicaid
Extenders Act of 2010 (Public Law 111-309), is amended--
(1) in subclause (II)--
(A) in the first sentence, by striking ``January 1, 2012''
and inserting ``March 1, 2012''; and
(B) in the second sentence, by striking ``or 2011'' and
inserting ``2011, or the first two months of 2012''; and
(2) in subclause (III)--
(A) in the first sentence, by striking ``2009, and'' and
all that follows through ``for which'' and inserting ``2009,
and before March 1, 2012, for which''; and
(B) in the second sentence, by striking ``2010, and'' and
all that follows through ``the preceding'' and inserting
``2010, and before March 1, 2012, the preceding''.
SEC. 309. EXTENDING MINIMUM PAYMENT FOR BONE MASS
MEASUREMENT.
Section 1848 of the Social Security Act (42 U.S.C. 1395w-4)
is amended--
(1) in subsection (b)--
(A) in paragraph (4)(B), by striking ``and 2011'' and
inserting ``, 2011, and the first 2 months of 2012''; and
(B) in paragraph (6)--
(i) in the matter preceding subparagraph (A), by striking
``and 2011'' and inserting ``, 2011, and the first 2 months
of 2012''; and
(ii) in subparagraph (C), by striking ``and 2011'' and
inserting ``, 2011, and the first 2 months of 2012''; and
(2) in subsection (c)(2)(B)(iv)(IV), by striking ``or
2011'' and inserting ``, 2011, or the first 2 months of
2012''.
SEC. 310. EXTENSION OF THE QUALIFYING INDIVIDUAL (QI)
PROGRAM.
(a) Extension.--Section 1902(a)(10)(E)(iv) of the Social
Security Act (42 U.S.C. 1396a(a)(10)(E)(iv)) is amended by
striking ``December 2011'' and inserting ``February 2012''.
(b) Extending Total Amount Available for Allocation.--
Section 1933(g) of such Act (42 U.S.C. 1396u-3(g)) is
amended--
(1) in paragraph (2)--
(A) by striking ``and'' at the end of subparagraph (O);
(B) in subparagraph (P), by striking the period at the end
and inserting ``; and''; and
(C) by adding at the end the following new subparagraphs:
``(Q) for the period that begins on January 1, 2012, and
ends on February 29, 2012, the total allocation amount is
$150,000,000.''.
SEC. 311. EXTENSION OF TRANSITIONAL MEDICAL ASSISTANCE (TMA).
Sections 1902(e)(1)(B) and 1925(f) of the Social Security
Act (42 U.S.C. 1396a(e)(1)(B), 1396r-6(f)) are each amended
by striking ``December 31, 2011'' and inserting ``February
29, 2012''.
SEC. 312. EXTENSION OF THE TEMPORARY ASSISTANCE FOR NEEDY
FAMILIES PROGRAM.
Activities authorized by part A of title IV and section
1108(b) of the Social Security Act (other than under
subsections (a)(3) and (b) of section 403 of such Act) shall
continue through February 29, 2012, in the manner authorized
for fiscal year 2011, and out of any money in the Treasury of
the United States not otherwise appropriated, there are
hereby appropriated such sums as may be necessary for such
purpose. Grants and payments may be made pursuant to this
authority through the applicable portion of the second
quarter of fiscal year 2012 at the pro rata portion of the
level provided for such activities through the second quarter
of fiscal year 2011.
TITLE IV--MORTGAGE FEES AND PREMIUMS
SEC. 401. GUARANTEE FEES.
Subpart A of part 2 of subtitle A of title XIII of the
Housing and Community Development Act of 1992 is amended by
adding after section 1326 (12 U.S.C. 4546) the following new
section:
``SEC. 1327. ENTERPRISE GUARANTEE FEES.
``(a) Definitions.--For purposes of this section, the
following definitions shall apply:
``(1) Guarantee fee.--The term `guarantee fee'--
``(A) means a fee described in subsection (b); and
``(B) includes--
``(i) the guaranty fee charged by the Federal National
Mortgage Association with respect to mortgage-backed
securities; and
``(ii) the management and guarantee fee charged by the
Federal Home Loan Mortgage Corporation with respect to
participation certificates.
``(2) Average fees.--The term `average fees' means the
average contractual fee rate of single-family guaranty
arrangements by an enterprise entered into during 2011, plus
the recognition of any up-front cash payments over an
estimated average life, expressed in terms of basis points.
Such definition shall be interpreted in a manner consistent
with the annual report on guarantee fees by the Federal
Housing Finance Agency.
``(b) Increase.--
``(1) In general.--
``(A) Phased increase required.--Subject to subsection (c),
the Director shall require each enterprise to charge a
guarantee fee in connection with any guarantee of the timely
payment of principal and interest on securities, notes,
[[Page S8751]]
and other obligations based on or backed by mortgages on
residential real properties designed principally for
occupancy of from 1 to 4 families, consummated after the date
of enactment of this section.
``(B) Amount.--The amount of the increase required under
this section shall be determined by the Director to
appropriately reflect the risk of loss, as well the cost of
capital allocated to similar assets held by other fully
private regulated financial institutions, but such amount
shall be not less than an average increase of 10 basis points
for each origination year or book year above the average fees
imposed in 2011 for such guarantees. The Director shall
prohibit an enterprise from offsetting the cost of the fee to
mortgage originators, borrowers, and investors by decreasing
other charges, fees, or premiums, or in any other manner.
``(2) Authority to limit offer of guarantee.--The Director
shall prohibit an enterprise from consummating any offer for
a guarantee to a lender for mortgage-backed securities, if--
``(A) the guarantee is inconsistent with the requirements
of this section; or
``(B) the risk of loss is allowed to increase, through
lowering of the underwriting standards or other means, for
the primary purpose of meeting the requirements of this
section.
``(3) Deposit in treasury.--Amounts received from fee
increases imposed under this section shall be deposited
directly into the United States Treasury, and shall be
available only to the extent provided in subsequent
appropriations Acts. The fees charged pursuant to this
section shall not be considered a reimbursement to the
Federal Government for the costs or subsidy provided to an
enterprise.
``(c) Phase-in.--
``(1) In general.--The Director may provide for compliance
with subsection (b) by allowing each enterprise to increase
the guarantee fee charged by the enterprise gradually over
the 2-year period beginning on the date of enactment of this
section, in a manner sufficient to comply with this section.
In determining a schedule for such increases, the Director
shall--
``(A) provide for uniform pricing among lenders;
``(B) provide for adjustments in pricing based on risk
levels; and
``(C) take into consideration conditions in financial
markets.
``(2) Rule of construction.--Nothing in this subsection
shall be interpreted to undermine the minimum increase
required by subsection (b).
``(d) Information Collection and Annual Analysis.--The
Director shall require each enterprise to provide to the
Director, as part of its annual report submitted to
Congress--
``(1) a description of--
``(A) changes made to up-front fees and annual fees as part
of the guarantee fees negotiated with lenders;
``(B) changes to the riskiness of the new borrowers
compared to previous origination years or book years; and
``(C) any adjustments required to improve for future
origination years or book years, in order to be in complete
compliance with subsection (b); and
``(2) an assessment of how the changes in the guarantee
fees described in paragraph (1) met the requirements of
subsection (b).
``(e) Enforcement.--
``(1) Required adjustments.--Based on the information from
subsection (d) and any other information the Director deems
necessary, the Director shall require an enterprise to make
adjustments in its guarantee fee in order to be in compliance
with subsection (b).
``(2) Noncompliance penalty.--An enterprise that has been
found to be out of compliance with subsection (b) for any 2
consecutive years shall be precluded from providing any
guarantee for a period, determined by rule of the Director,
but in no case less than 1 year.
``(3) Rule of construction.--Nothing in this subsection
shall be interpreted as preventing the Director from
initiating and implementing an enforcement action against an
enterprise, at a time the Director deems necessary, under
other existing enforcement authority.
``(f) Expiration.--The provisions of this section shall
expire on October 1, 2021.''.
SEC. 402. FHA GUARANTEE FEES.
(a) Amendment.--Section 203(c)(2) of the National Housing
Act (12 U.S.C. 1709(c)(2)) is amended by adding at the end
the following:
``(C)(i) In addition to the premiums under subparagraphs
(A) and (B), the Secretary shall establish and collect annual
premium payments for any mortgage for which the Secretary
collects an annual premium payment under subparagraph (B), in
an amount described in clause (ii).
``(ii)(I) Subject to subclause (II), with respect to a
mortgage, the amount described in this clause is 10 basis
points of the remaining insured principal balance (excluding
the portion of the remaining balance attributable to the
premium collected under subparagraph (A) and without taking
into account delinquent payments or prepayments).
``(II) During the 2-year period beginning on the date of
enactment of this subparagraph, the Secretary shall increase
the number of basis points of the annual premium payment
collected under this subparagraph incrementally, as
determined appropriate by the Secretary, until the number of
basis points of the annual premium payment collected under
this subparagraph is equal to the number described in
subclause (I).''.
(b) Prospective Repeal.--Section 203(c)(2) of the National
Housing Act (12 U.S.C. 1709(c)(2)) is amended by striking
subparagraph (C), as added by subsection (a), effective on
October 1, 2021.
(c) Report Required.--Not later than 30 days before the
date on which the Secretary of Housing and Urban Development
makes a determination under subsection (b)(2), the Secretary
shall submit to the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services
of the House of Representatives a report that--
(1) explains the basis for the determination; and
(2) identifies the date on which the Secretary plans to
make the determination.
TITLE V--OTHER PROVISIONS
Subtitle A--Keystone XL Pipeline
SEC. 501. PERMIT FOR KEYSTONE XL PIPELINE.
(a) In General.--Except as provided in subsection (b), not
later than 60 days after the date of enactment of this Act,
the President, acting through the Secretary of State, shall
grant a permit under Executive Order 13337 (3 U.S.C. 301
note; relating to issuance of permits with respect to certain
energy-related facilities and land transportation crossings
on the international boundaries of the United States) for the
Keystone XL pipeline project application filed on September
19, 2008 (including amendments).
(b) Exception.--
(1) In general.--The President shall not be required to
grant the permit under subsection (a) if the President
determines that the Keystone XL pipeline would not serve the
national interest.
(2) Report.--If the President determines that the Keystone
XL pipeline is not in the national interest under paragraph
(1), the President shall, not later than 15 days after the
date of the determination, submit to the Committee on Foreign
Relations of the Senate, the Committee on Foreign Affairs of
the House of Representatives, the majority leader of the
Senate, the minority leader of the Senate, the Speaker of the
House of Representatives, and the minority leader of the
House of Representatives a report that provides a
justification for determination, including consideration of
economic, employment, energy security, foreign policy, trade,
and environmental factors.
(3) Effect of no finding or action.--If a determination is
not made under paragraph (1) and no action is taken by the
President under subsection (a) not later than 60 days after
the date of enactment of this Act, the permit for the
Keystone XL pipeline described in subsection (a) that meets
the requirements of subsections (c) and (d) shall be in
effect by operation of law.
(c) Requirements.--The permit granted under subsection (a)
shall require the following:
(1) The permittee shall comply with all applicable Federal
and State laws (including regulations) and all applicable
industrial codes regarding the construction, connection,
operation, and maintenance of the United States facilities.
(2) The permittee shall obtain all requisite permits from
Canadian authorities and relevant Federal, State, and local
governmental agencies.
(3) The permittee shall take all appropriate measures to
prevent or mitigate any adverse environmental impact or
disruption of historic properties in connection with the
construction, operation, and maintenance of the United States
facilities.
(4) For the purpose of the permit issued under subsection
(a) (regardless of any modifications under subsection (d))--
(A) the final environmental impact statement issued by the
Secretary of State on August 26, 2011, satisfies all
requirements of the National Environmental Policy Act of 1969
(42 U.S.C. 4321 et seq.) and section 106 of the National
Historic Preservation Act (16 U.S.C. 470f);
(B) any modification required by the Secretary of State to
the Plan described in paragraph (5)(A) shall not require
supplementation of the final environmental impact statement
described in that paragraph; and
(C) no further Federal environmental review shall be
required.
(5) The construction, operation, and maintenance of the
facilities shall be in all material respects similar to that
described in the application described in subsection (a) and
in accordance with--
(A) the construction, mitigation, and reclamation measures
agreed to by the permittee in the Construction Mitigation and
Reclamation Plan found in appendix B of the final
environmental impact statement issued by the Secretary of
State on August 26, 2011, subject to the modification
described in subsection (d);
(B) the special conditions agreed to between the permittee
and the Administrator of the Pipeline Hazardous Materials
Safety Administration of the Department of Transportation
found in appendix U of the final environmental impact
statement described in subparagraph (A);
(C) if the modified route submitted by the Governor of
Nebraska under subsection (d)(3)(B) crosses the Sand Hills
region, the measures agreed to by the permittee for the Sand
Hills region found in appendix H of the final environmental
impact statement described in subparagraph (A); and
(D) the stipulations identified in appendix S of the final
environmental impact statement described in subparagraph (A).
(6) Other requirements that are standard industry practice
or commonly included in Federal permits that are similar to a
permit issued under subsection (a).
(d) Modification.--The permit issued under subsection (a)
shall require--
(1) the reconsideration of routing of the Keystone XL
pipeline within the State of Nebraska;
(2) a review period during which routing within the State
of Nebraska may be reconsidered and the route of the Keystone
XL pipeline through the State altered with any accompanying
modification to the Plan described in subsection (c)(5)(A);
and
(3) the President--
(A) to coordinate review with the State of Nebraska and
provide any necessary data and reasonable technical
assistance material to the review process required under this
subsection; and
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(B) to approve the route within the State of Nebraska that
has been submitted to the Secretary of State by the Governor
of Nebraska.
(e) Effect of No Approval.--If the President does not
approve the route within the State of Nebraska submitted by
the Governor of Nebraska under subsection (d)(3)(B) not later
than 10 days after the date of submission, the route
submitted by the Governor of Nebraska under subsection
(d)(3)(B) shall be considered approved, pursuant to the terms
of the permit described in subsection (a) that meets the
requirements of subsection (c) and this subsection, by
operation of law.
(f) Private Property Savings Clause.--Nothing in this
section alters the Federal, State, or local processes or
conditions in effect on the date of enactment of this Act
that are necessary to secure access from private property
owners to construct the Keystone XL pipeline.
Subtitle B--Budgetary Provisions
SEC. 511. SENATE POINT OF ORDER AGAINST AN EMERGENCY
DESIGNATION.
Section 314 of the Congressional Budget Act of 1974 is
amended by--
(1) redesignating subsection (e) as subsection (f); and
(2) inserting after subsection (d) the following:
``(e) Senate Point of Order Against an Emergency
Designation.--
``(1) In general.--When the Senate is considering a bill,
resolution, amendment, motion, amendment between the Houses,
or conference report, if a point of order is made by a
Senator against an emergency designation in that measure,
that provision making such a designation shall be stricken
from the measure and may not be offered as an amendment from
the floor.
``(2) Supermajority waiver and appeals.--
``(A) Waiver.--Paragraph (1) may be waived or suspended in
the Senate only by an affirmative vote of three-fifths of the
Members, duly chosen and sworn.
``(B) Appeals.--Appeals in the Senate from the decisions of
the Chair relating to any provision of this subsection shall
be limited to 1 hour, to be equally divided between, and
controlled by, the appellant and the manager of the bill or
joint resolution, as the case may be. An affirmative vote of
three-fifths of the Members of the Senate, duly chosen and
sworn, shall be required to sustain an appeal of the ruling
of the Chair on a point of order raised under this
subsection.
``(3) Definition of an emergency designation.--For purposes
of paragraph (1), a provision shall be considered an
emergency designation if it designates any item pursuant to
section 251(b)(2)(A)(i) of the Balanced Budget and Emergency
Deficit Control Act of 1985.
``(4) Form of the point of order.--A point of order under
paragraph (1) may be raised by a Senator as provided in
section 313(e) of the Congressional Budget Act of 1974.
``(5) Conference reports.--When the Senate is considering a
conference report on, or an amendment between the Houses in
relation to, a bill, upon a point of order being made by any
Senator pursuant to this section, and such point of order
being sustained, such material contained in such conference
report shall be deemed stricken, and the Senate shall proceed
to consider the question of whether the Senate shall recede
from its amendment and concur with a further amendment, or
concur in the House amendment with a further amendment, as
the case may be, which further amendment shall consist of
only that portion of the conference report or House
amendment, as the case may be, not so stricken. Any such
motion in the Senate shall be debatable. In any case in which
such point of order is sustained against a conference report
(or Senate amendment derived from such conference report by
operation of this subsection), no further amendment shall be
in order.''.
SEC. 512. PAYGO SCORECARD ESTIMATES.
The budgetary effects of this Act shall not be entered on
either PAYGO scorecard maintained pursuant to section 4(d) of
the Statutory Pay-As-You-Go Act of 2010.
Amend the title so as to read: ``An Act A bill to extend
the payroll tax holiday, unemployment compensation, Medicare
physician payment, provide for the consideration of the
Keystone XL pipeline, and for other purposes''.
The ACTING PRESIDENT pro tempore. The majority leader.
Amendment No. 1466
Mr. REID. Mr. President, I have an amendment to the title that is at
the desk, and I ask unanimous consent that it be agreed to.
The ACTING PRESIDENT pro tempore. Without objection, it is so
ordered.
The amendment (No. 1466) was agreed to, as follows:
To amend the title so as to read:
A bill to extend the payroll tax holiday, unemployment
compensation, Medicare physician payment, provide for the
consideration of the Keystone XL pipleline, and for other
purposes.
Mr. REED. Mr. President, today I voted to prevent a tax increase on
the middle class and to continue jobless benefits for millions of
Americans and thousands of Rhode Islanders. Unfortunately, despite my
and many of my colleagues' best efforts, this bill is deeply flawed. It
doesn't provide needed certainty to Americans or to our economy because
it does not provide a year-long extension of the payroll tax cut and
jobless benefits, nor does it include needed reforms, like work
sharing, which will help prevent layoffs in our still fragile economy.
By insisting that jobless benefits be paid for, we are undermining the
countercyclical nature of the program and blunting its purpose to
stabilize our economy. But worst of all, it fails to address a
provision of the unemployment insurance law that is absolutely
necessary given our current employment crisis.
As a result, this bill effectively cuts 20 weeks of unemployment
benefits. This means Rhode Islanders who have exhausted their normal UI
benefits and extended--EUC08--benefits in February will not be eligible
to receive the same help that was given to an unemployed person in the
same situation back in the middle of 2011.
There is no reason to cut back on jobless benefits now. Over 13
million Americans are out of work, and our Nation is still grappling
with the worst case of chronic long-term unemployment since the Great
Depression. Unemployment benefits are a lifeline to millions of
families and are our most effective tool in battling economic decline.
Without these benefits unemployed Americans who are looking for a job
wouldn't be able to pay for absolute necessities--their rent, mortgage,
groceries, or for transportation as they hit the streets looking for
work.
This reduction in coverage that my Republican colleagues have
insisted upon is deeply damaging to American households and the broad
economy. We should not be engaged in these short-term extensions of the
payroll tax cut and jobless benefits--and then cut those jobless
benefits as we go along.
In addition to cutting jobless benefits that help a broad swath of
Americans, Republicans refuse to ask the wealthiest Americans to
contribute to offsetting these policies. The payroll tax and jobless
benefits could have been paid for by asking the wealthiest one-tenth of
1 percent to share in the sacrifice that middle-class America has made,
but Republicans have voted time and again in favor of millionaire and
billionaires and against tax cuts for the middle class.
I will continue to fight for maintaining jobless benefits and
extending the payroll tax cut through 2012. I will continue to oppose
efforts that would cut benefits and that would pay for continuing
benefits by hurting the middle class.
As today's bill shows, though, my Republican colleagues are not
interested in helping middle-class Americans and instead insist on
tacking on controversial environmental riders and including offsets
that hit the middle class.
Indeed, this bill includes a provision that would require the
President to make a decision on the Keystone XL Pipeline within 60
days. This timeframe would dramatically shorten the important
environmental review of the project, which includes assessing its
potential impacts on critical water resources in the Ogallala aquifer,
as well as increased carbon pollution.
I have been working to support and urge serious steps to reduce our
dependence on oil, such as increasing the fuel efficiency of our
vehicles and developing advanced biofuels. Even if Canadian oil
displaces the importation of oil from other countries, the price of oil
is determined by the global market, and the best way to decrease our
exposure to the rising price of oil is to decrease our demand.
In addition, since America has recently become a net exporter of
petroleum products, I am concerned that the proposed pipeline would
merely allow big oil companies to import the oil from Canada, transport
it by a pipeline--and with it, the risks of leaking into a critical
aquifer--down to Texas refineries, where it would be refined into
petroleum products that, in part, would be exported to foreign markets.
It is for those reasons that I have opposed the proposed Keystone XL
Pipeline and urge the President to reject it.
As I have stated previously, I would have preferred to pay for this
legislation by asking the wealthiest one-tenth of 1 percent of
Americans to share in the sacrifices that all other Americans have made
in working to right our economic ship. However, in the search for pay-
fors, the House of Representatives added language that would increase
the guarantee-fees--g-fees--the government-sponsored enterprises charge
over the next 10 years, diverting funds away from shoring up the GSEs
to fund a benefit that is unrelated to our housing markets. If there
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is any capacity to increase the g-fees, those resources should be
directed to our housing markets, which still remain too fragile.
I find it incredibly ironic that my Republican colleagues, many of
whom say they believe the mortgage securitization market should be
completely privatized, have suggested an offset that uses a 10-year
revenue stream from the enterprises' business operations as a piggy
bank for governmental purposes. This seems like inconsistent policy at
best.
This bill is deeply flawed, but I could not in good conscience vote
against providing a tax cut to the middle class and providing
desperately needed relief to nearly 10,000 Rhode Islanders who would
have lost jobless benefits through the month of January.
I will not stop fighting for the middle class, to continue jobless
benefits and working to improve our economy and create jobs. I will
work tirelessly to continue the payroll tax cut and jobless benefits
through the rest of the year and to fix this egregious reduction in
benefits.
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