[Congressional Record Volume 158, Number 60 (Wednesday, April 25, 2012)]
[House]
[Pages H2095-H2099]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SMALL BUSINESS CREDIT AVAILABILITY ACT
Mr. LUCAS. Madam Speaker, I move to suspend the rules and pass the
bill (H.R. 3336) to ensure the exclusion of small lenders from certain
regulations of the Dodd-Frank Act, as amended.
The Clerk read the title of the bill.
The text of the bill is as follows:
H.R. 3336
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Small Business Credit
Availability Act''.
SEC. 2. CLARIFICATION OF SWAP DEALER DEFINITION.
Section 1a(49) of the Commodity Exchange Act (7 U.S.C.
1a(49)) is amended by striking all that follows subparagraph
(A)(iv) through subparagraph (C) and inserting the following:
``provided however, in no event shall an insured depository
institution, an institution chartered and operating under the
Farm Credit Act of 1971, or a United States uninsured branch
or agency of a foreign bank that has a prudential regulator
be considered to be a swap dealer to the extent that it
enters into a swap--
``(I) with a customer that is seeking to manage risk in
connection with an extension of credit by the institution to,
on behalf of, or for the benefit of, the customer; or
``(II) to offset the risks arising from a swap that meets
the requirement of subclause (I).
``(B) Inclusion.--A person may be designated as a swap
dealer for a single type or single class or category of swap
or activities and considered not to be a swap dealer for
other types, classes, or categories of swaps or activities.
``(C) Exceptions.--
``(i) The term `swap dealer' does not include a person that
enters into swaps for such person's own account, either
individually or in a fiduciary capacity, but not as part of
regular business activities as described in subparagraph (A).
``(ii) In determining whether a person is a `swap dealer'
within the meaning of subparagraph (A), the following shall
not be considered as part of the determination:
``(I) any swap entered into for a person's own account for
the purpose of hedging or mitigating commercial risk; and
``(II) any swap entered into for a person's own account for
the purpose of meeting State or local governmental regulatory
compliance purposes.
``(iii) In determining whether a person is a `swap dealer'
within the meaning of subparagraph (A)(iii), any swap which
involves a capacity contract, a renewable energy credit, an
emissions allowance, or an emissions offset shall not be
considered as part of that determination, if--
``(I) the contract, credit, allowance, or offset is
utilized to meet obligations under State or local law or
regulation for that person; and
``(II) the swap is entered into for that person's own
account.''.
SEC. 3. EXCLUSIONS FROM FINANCIAL ENTITY DEFINITION.
Section 2(h)(7)(C)(ii) of the Commodity Exchange Act (7
U.S.C. 2(h)(7)(C)(ii)) is amended to read as follows:
``(ii) Exclusion.--Such definition shall not include an
entity that is a small bank, savings association, farm credit
system institution, non-profit cooperative lender controlled
by electric cooperatives, or credit union if the aggregate
uncollateralized outward exposure plus aggregate potential
outward exposure of the entity with respect to its swaps does
not exceed $1,000,000,000.''.
SEC. 4. CLARIFICATION OF THE EXEMPTIONS FOR CAPTIVE FINANCE
COMPANIES FROM THE DEFINITION OF MAJOR SWAP
PARTICIPANT AND FROM THE SWAP CLEARING
REQUIREMENT.
(a) Exclusion From Definition of Major Swap Participant.--
Section 1a(33)(D) of the Commodity Exchange Act (7 U.S.C.
1a(33)(D)) is amended to read as follows:
[[Page H2096]]
``(D) Exclusion of certain captive finance entities.--
``(i) In general.--The definition under this paragraph
shall not include an entity whose primary business is
providing financing that facilitates the sale or lease of
products by or on behalf of the parent company or another
subsidiary of the parent company, and uses derivatives only
for the purpose of hedging underlying commercial risks in a
consolidated financing and leasing portfolio, at least 90
percent of which, as of the end of its preceding fiscal year,
is qualifying financing (including loans, notes, installment
sales contracts, receivables, and operating and financing
leases).
``(ii) Definitions.--In this subparagraph:
``(I) Qualifying financing.--The term `qualifying
financing' means--
``(aa) any financing or lease of, or that includes, a
product; or
``(bb) any financing to or for the benefit of an affiliate
of the entity, a distribution entity, or any customer or
affiliate of a distribution entity,
except that the term does not include any financing that does
not facilitate the sale of a product manufactured by the
entity or its affiliates, as determined by the Commission.
``(II) Product.--The term `product' means--
``(aa) any good that is manufactured or sold by an
affilliate of the entity; and
``(bb) any service that is provided by an affiliate of the
entity.
``(III) Distribution entity.--The term `distribution
entity' means a person whose primary business is the sale,
lease or servicing of a product that is manufactured by the
entity or its affiliates.
``(IV) Affiliate.--The term `affiliate' means, with respect
to an entity--
``(aa) a person that reports information or prepares
financial statements on a consolidated basis with the entity,
or for which a parent company reports information or prepares
financial statements on a consolidated basis for the person
and the entity; or
``(bb) a person of which the entity or the parent of the
entity holds 50 percent or more of the equity interests.
``(V) Person.--The term `person' means an individual,
partnership, corporation (including a business trust),
limited liability company, joint stock company, trust,
unincorporated association, joint venture or other entity, or
a government or any political subdivision or agency
thereof.''.
(b) Exclusion From Swap Clearing Requirement.--Section
2(h)(7)(C)(iii) of such Act (42 U.S.C. 2(h)(7)(C)(iii)) is
amended to read as follows:
``(iii) Exclusion of certain captive finance entities.--
Such term shall not include an entity excluded from the
definition of major swap participant by reason of section
1a(33)(D).''.
SEC. 5. EFFECTIVE DATE.
The amendments made by this Act shall take effect as if
they had been included in subtitle A of title VII of the
Dodd-Frank Wall Street Reform and Consumer Protection Act.
SEC. 6. IMPLEMENTATION.
The amendments made by this Act to the Commodity Exchange
Act shall be implemented--
(1) without regard to--
(A) chapter 35 of title 44, United States Code; and
(B) the notice and comment provisions of section 553 of
title 5, United States Code;
(2) through the promulgation of an interim final rule,
pursuant to which public comment will be sought before a
final rule is issued, and
(3) such that paragraph (1) shall apply solely to changes
to rules and regulations, or proposed rules and regulations,
that are limited to and directly a consequence of such
amendments.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Oklahoma (Mr. Lucas) and the gentleman from Minnesota (Mr. Peterson)
each will control 20 minutes.
The Chair recognizes the gentleman from Oklahoma.
General Leave
Mr. LUCAS. Madam Speaker, I ask unanimous consent that all Members
have 5 legislative days in which to revise and extend their remarks on
the bill, H.R. 3336.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Oklahoma?
There was no objection.
Mr. LUCAS. Madam Speaker, I yield myself such time as I may consume.
Madam Speaker, I rise to voice my support for this bill. First and
foremost, I would like to thank my committee's ranking member, Mr.
Peterson, and his staff for their diligent work on this bill on behalf
of end-users and small business lenders. We have a longstanding
tradition of bipartisanship at the Agriculture Committee, and their
work was invaluable. I'd like to thank Representative Hartzler for her
leadership on H.R. 3336 on behalf of the small business institutions
and the businesses they serve.
I would like to acknowledge and thank Representative Hultgren and
Representative Boren, whose legislation, H.R. 3527, will not be
considered today. As a result of their leadership and Mr. Peterson's
support, many of the critical issues for end-users addressed in H.R.
3527 were resolved by the CFTC in its final ``definitions rule.''
I think we can reasonably feel assured that agricultural cooperatives
and other end-users out in the countryside won't be unnecessarily
deemed ``swap dealers'' and regulated like the largest financial
institutions. As I said from the outset, if the CFTC on its own
resolves concerns we have raised for months in our committee room, we
would not proceed with legislation. And that's what we've done with
H.R. 3527. However, concerns with the implementation of title VII
remain, and so we are here today to proceed with H.R. 3336. This bill
addresses issues that are important to community and farm credit
banks--organizations which are instrumental to the economic vitality of
our towns and rural communities.
In the Dodd-Frank Act, Congress was careful to ensure that new
regulations wouldn't impose unnecessary costs on small institutions
that might deter them from extending credit to businesses across
America. Small banks pose very little risk to our financial system.
Within the banking system, 96 percent of the notional value of
derivatives is held by the five largest banks. The very small remaining
percentage of the derivatives exposure in our financial system is
spread across hundreds of small institutions. That's why Congress never
intended for these community lenders to be regulated the same as the
largest global financial institutions.
{time} 1400
This bill aims to restore Congressional intent by exempting small
banks, credit unions, nonprofit cooperative lenders, and farm credit
institutions from costly clearing requirements under Dodd-Frank. It
also ensures that banks can continue to provide risk management tools
to their borrowers.
In addition, thanks to the leadership of Representatives Schilling,
Owens, and McIntyre, provisions of H.R. 3336 will ensure captive
finance affiliates of manufacturing companies like John Deere and
Caterpillar are eligible for the same exemptions as their parent
companies and other end-users. These affiliates are an important source
of credit to consumers and businesses and promote our manufacturing
sector.
Lastly, through the hard work of Representatives Costa, Cardoza, and
Baca, H.R. 3336 clarifies that utilities will not be miscast as swap
dealers because they enter into contracts that are required by State
law. The legislation clarifies that complying with State laws alone
won't also draw new and costly Federal regulations.
There are many Members on both sides of the aisle at the Ag Committee
who have spent time getting this bill to where it is today. We have
been careful not to create loopholes or to stray from congressional
intent. The bill does not open the door for large financial players to
evade regulations or engage in speculative or highly risky activities.
Madam Speaker, in this economy, it all comes back to jobs. To create
new jobs, businesses need access to credit to make new investments.
This bill ensures that businesses maintain access to credit from
community lenders.
So I urge my colleagues to support H.R. 3336 and ensure that
America's small businesses can continue to access the credit they need
to build our economy.
Madam Speaker, I reserve the balance of my time.
Mr. PETERSON. Madam Speaker, I yield myself such time as I may
consume.
Madam Speaker, today, the House considers H.R. 3336, a bill which
makes clarifying changes to the Dodd-Frank Act. Like two other Dodd-
Frank bills that the House passed previously--H.R. 2779, the inter-
affiliate bill, and H.R. 2682, the margin bill--this legislation was
crafted in a bipartisan manner.
As the Ag Committee continues to oversee the implementation of Dodd-
Frank, I firmly believe that the CFTC is ultimately going to get the
rules and regulations right. If you look at the Dodd-Frank rules that
have already been completed, by and large they have been bipartisan and
responsive to the
[[Page H2097]]
concerns that we have heard during our oversight hearings.
For example, during a legislative hearing last year, we heard
concerns about business conduct standards and the potential impact it
could have on pension plans' ability to use swaps to hedge risk. When
the commission approved a bipartisan final rule establishing these
business conduct standards, the general response from the pension
community was satisfaction.
More recently, the CFTC approved last week--again with a bipartisan
vote of 4 1--rules defining who will be subject of Dodd-Frank's new
oversight. Again, the general view from the end-user community is that
the rule addresses their concerns. In fact, I believe one of the bills
the committee voted on earlier, H.R. 3527, which rewrote the swap
dealer definition, now no longer seems necessary.
I talk frequently with CFTC Chairman Gensler, and from what he has
told me, I am confident that the remaining concerns that H.R. 3336
seeks to address will ultimately be resolved satisfactorily by the
CFTC. I think somebody used this bill to send a message to the CFTC,
and since that message is consistent with the original intent of Dodd-
Frank, I have no objection to it.
As originally considered by the committee, H.R. 3336 is meant to
address concerns raised by farm credit institutions, credit unions, and
small banks that worry about being forced to clear. Under current law,
the CFTC is supposed to develop an asset-based exemption from clearing.
When you look at the swap activity of some of the banks, questions were
raised whether a fixed-asset test was appropriate. The risk-based test
contained in the bill will, I think, prove more than adequate and
certainly will provide incentives to banks to more robustly back up
their swap positions, to the extent that they are not doing so now.
During the committee's markup of H.R. 3336, Representatives McIntyre
and Owens raised concerns they heard on behalf of captive finance
companies which fear that the exemptions provided to them under the
Dodd-Frank law will not be implemented properly. This bill not only
addresses those concerns, it closed a potential loophole in Dodd-Frank
which could have allowed captive finance companies to use the original
Dodd-Frank exemption to engage in speculation or swap activities
unrelated to the commercial business without proper oversight.
Also, during the markup, Representative Costa raised concerns on
behalf of California utilities, which fear being classified as swap
dealers for entering into transactions necessary to comply with State
regulations. Working with members of the California delegation, we were
able to adequately address these concerns as well.
Given that the legislation clarifies what Congress intended to do
with the original Dodd-Frank law, I urge my colleagues to support its
passage.
And with that, Madam Speaker, I reserve the balance of my time.
Mr. LUCAS. Madam Speaker, I would like to yield 4 minutes to the
gentlewoman from Missouri (Mrs. Hartzler), who is the primary sponsor
of our important piece of legislation today.
Mrs. HARTZLER. Thank you, Mr. Chairman, for bringing this forth and
for the bipartisan support for this bill.
I'm pleased to bring the Small Business Credit Availability Act
forward today in order to help small businesses, American
manufacturers, farmers, and consumers to access the credit they need in
order to grow our economy.
Madam Speaker, we need jobs in our country. We need manufacturing to
stay strong in America, and we need small businesses to be able to
grow. They can't do that if Washington stands in their way.
The Small Business Credit Availability Act removes the onerous
barriers to credit imposed by the 2009 Dodd-Frank bill governing a
bank's ability to offer low-rate fixed loans to small businesses and
manufacturers. This bill also removes the barriers to low-rate fixed
loans for credit unions, farm credit banks, rural electric cooperative
infrastructure lenders, and finance companies who offer credit to their
customers.
Without this bill, the Farm Credit Council alone expects that
substantial new costs between $6 million and $27.2 million a year will
be added to their cost of doing business, all for new processes and red
tape that are not needed.
It is important that local businesses, local manufacturers, and local
farmers be able to access low-rate interest loans from local financial
entities. This bill keeps the business in the local communities, where
it belongs, by reducing the costly new regulations imposed by the 2009
bill. In addition, it clarifies a provision of Dodd-Frank to ensure
that manufacturers will be able to continue to provide credit to
customers who buy their products.
We need to do everything we can to keep manufacturing here in
America, and H.R. 3336 helps do that.
Lastly, our bill clarifies that State utilities are unduly burdened
by Dodd-Frank when complying with State law as they enter into
contracts. It's time for Washington to cut the unnecessary red tape
that hampers job creation. By passing the Small Business Credit
Availability Act, Congress will remove the barriers and clear the way
for local entities to do business at home and create jobs while doing
it.
I urge all my colleagues to support this vital bill.
Mr. PETERSON. Madam Speaker, I now yield such time as he may consume
to the distinguished gentleman from California (Mr. Costa).
Mr. COSTA. Madam Speaker, I rise today in support of H.R. 3336, the
Small Business Credit Availability Act.
This bipartisan measure received unanimous support in the House
Committee on Agriculture and ensures, as the previous speakers have
indicated, that small financial entities such as community banks, farm
credit system institutions, and credit unions will not be burdened with
costly regulations resulting from the reform of our financial system.
That was never Congress' intent.
I appreciate very much the work of Chairman Lucas and Ranking Member
Peterson and their staffs, as well as the bill's sponsor,
Representative Hartzler, to reach an agreement with not only myself,
but my colleagues, Congressmen Baca and Cardoza, who are also on the
committee, as well as the California delegation on the underlying text
of this bill. Without your support, obviously we could not address this
issue pertaining to California.
While we work to maintain the viability of small businesses
recognized in H.R. 3336, we also must look for ways to avoid unintended
consequences resulting from the implementation of the Dodd-Frank Act on
other entities, in this case, such as utilities.
{time} 1410
It's always the difficult challenge we have in Congress, the law of
unintended consequences, that we must respond to.
Because of California's regulatory environment, I expressed concerns
in the committee that California's energy providers, our utility
companies, might be or would be inadvertently, as we believe, swept up
by the ``swap dealer'' definition, which is the efforts that the
committee has addressed. Over several weeks, we worked together with
the staff and the utilities to develop language that provides the
clarity needed to ensure that companies within California that provide
energy for all businesses and residences--which are ultimately
California's ratepayers--are not penalized by the Federal regulators
for simply complying with State law.
H.R. 3336 includes language clarifying that the actions undertaken to
comply with State or local laws or regulations are excluded in
determining whether or not an entity is considered a swap dealer. Let
me be specific. The language clarifies that resource adequacy contracts
entered into to satisfy California's Public Utilities Commission
procurement requirements, renewable energy credits used to satisfy the
California Renewable Portfolio Standard, and emission allowances to
satisfy California's greenhouse regulations should not--and this is the
key line--should not be considered in determining whether or not an
entity is a swap dealer.
My colleagues, we should understand that the situation we're dealing
with in these examples, these transactions, are closely regulated by
California's Public Utilities Commission or the California Air
Resources Board, and they pose no systemic risk to our financial
systems or to the ratepayers.
[[Page H2098]]
While California is currently affected, it is possible that these
concerns could be shared by energy providers in other States. That's
why the committee, in their wisdom, chose to address this issue to help
not only California, but possibly to extend to other States that might
be similarly affected. For these reasons, I encourage my colleagues to
support this bill.
I once again want to thank the chairman, thank Ranking Member
Peterson, Chairman Lucas, and the author of the bill, Representative
Hartzler.
Mr. LUCAS. Madam Speaker, I yield 4 minutes to the gentleman from
Illinois (Mr. Schilling).
Mr. SCHILLING. Thank you, Chairman Lucas.
I rise in support of H.R. 3336, the Small Business Credit
Availability Act.
Madam Speaker, I've only been in Congress for a little over a year,
but I have found the House Committee on Agriculture to be very
bipartisan, and I believe that it is in large part due to the
leadership of Chairman Lucas and Ranking Member Peterson.
I come to the floor today to speak in support of a bipartisan
provision in the bill that is important to the American manufacturing
sector--and particularly to Illinois companies like John Deere and
Caterpillar, which employ almost 150,000 men and women.
Many of the manufacturers here at home have what are called ``captive
finance affiliates'' whose function is to provide loans and leases to
customers to purchase the goods they make. The credit that captive
finance companies provide is essential to agricultural producers,
construction contractors, and manufacturers, and the jobs they support
here at home.
Congress provided an exemption in the current law for captive finance
affiliates so that when they hedge risks associated with providing
loans to their customers, they receive the same exemptions available to
the parent company and other end-users. However, there is a lack of
guidance in the CFTC's implementation of the exemption, leading to
concern that these captive finance companies could be subject to
mandatory clearing requirements or regulated as major swap
participants. There is bipartisan agreement that this is not what
Congress originally intended.
H.R. 3336 will provide the needed clarification for our manufacturers
and their captive affiliates. It does so while also providing
safeguards against abuse. First and foremost, this only applies to
entities that use derivatives to manage their risks, meaning they
cannot use derivatives to speculate. In addition, these entities cannot
engage in financing that does not facilitate the sale of their
manufactured products. The CFTC will have the authority to prevent
affiliates from qualifying for this exemption.
Again, I appreciate the bipartisan nature of providing certainty on
this issue. I want to thank Chairman Lucas, Ranking Member Peterson,
Congressman Bill Owens, Congressman Mike McIntyre, and Congressman
Randy Neugebauer for their efforts on this issue. I also really want to
thank the majority and minority House Ag Committee and their staff for
their work on this issue, especially Ryan McKee and Clarke Ogilvie. It
is important to provide certainty for our folks back home.
Mr. PETERSON. I reserve the balance of my time.
Mr. LUCAS. Madam Speaker, I yield 3 minutes to the gentleman from
Texas (Mr. Conaway).
Mr. CONAWAY. Thank you, Mr. Chairman.
Madam Speaker, I rise today in strong support of H.R. 3336, the Small
Business Credit Availability Act.
Today's bill makes several narrow changes to the law which will
further clarify exactly how Congress intended for the CFTC to implement
the new swap dealer registration requirements under Dodd-Frank.
In the law, Congress authorized the CFTC to exclude small financial
institutions that provide swaps in connection with loans from the heavy
regulations as swap dealers. We did so because we understood the
importance of allowing these institutions the ability to package
together loans and hedging instruments.
Offering loans in this way allows small financial institutions to
offset some of their underlying risk and offer lower loan rates to
local farmers, ranchers, and small businesses. These lower loan rates
mean the businesses that sustain our rural communities will have
greater access to the capital they need to continue to invest in their
growing businesses.
With the Entity Definitions recently released by the CTFC--although
not yet published in the Federal Reserve--the CFTC took steps towards
resolving the issues addressed by H.R. 3336. However, it left some
undone. Unfortunately, the current rule is silent on the commodity
swaps for agricultural businesses, is unnecessarily restrictive of farm
credit system institutions, and applies arbitrary time restrictions on
excluded swaps.
H.R. 3336 would strengthen the rule passed by the CTFC by expanding
the scope of the exemption to protect the way rural America has long
done business. The farms, ranches, and small businesses in the district
I represent have never been and never will be a part of the systemic
failure of our financial system. Neither they nor the small
institutions that serve them ought to be considered as a threat.
Today's legislation is carefully tailored to ensure that we do not
shackle small businesses and family farms with rules that ought to
apply and are meant to police the largest Wall Street banks.
I want to thank Ms. Hartzler for the work that she's done on
shepherding this bill through committee. She has been a staunch
advocate for protecting small businesses from the overreach of Dodd-
Frank. I would also like to thank Ranking Member Boswell, my
counterpart on the General Farm Committees and Risk Management
Subcommittee; our chairman, Mr. Lucas; and our ranking member, Mr.
Peterson, for their continued efforts at comity and bipartisanship on
the House Agriculture Committee.
Like many bills moved through our committee this year, H.R. 3336
passed with unanimous bipartisan support. This is a testament to the
leadership on both sides of the aisle and to the carefully crafted bill
that Ms. Hartzler introduced.
With those remarks, Madam Speaker, I urge swift adoption of the Small
Business Credit Availability Act.
Mr. LUCAS. Madam Speaker, I would note to my colleague, the ranking
member, I have one additional speaker, and then myself for whatever
close I may have.
Mr. PETERSON. I reserve the balance of my time.
Mr. LUCAS. Madam Speaker, I yield 2 minutes to the gentleman from
Illinois (Mr. Hultgren).
Mr. HULTGREN. Chairman Lucas, thank you so much for your support on
this issue. It has been a pleasure working with you and your staff
during my first term here in Congress and on the Ag Committee.
In the committee this year, we have worked hard to protect farms and
small businesses from Dodd-Frank red tape. That's why I rise today in
strong support of Representative Vicky Hartzler's bill.
H.R. 3336 reduces unnecessary regulatory burdens on small financial
institutions to ensure they can continue to provide capital to small
businesses in their communities.
The bill ensures that small financial and farm credit institutions
will continue to be able to provide swaps to their loan customers
without being considered or registered as swap dealers.
I am pleased that the CTFC has come out with a ruling more favorable
than the original legislation, but I think it's important still to note
that this bill ensures that the CTFC provides an exemption from
clearing for small financial institutions that are hedging their own
risks.
I also want to thank my Illinois colleague, Congressman Bobby
Schilling, for his work on this bill. He added a provision particularly
important for companies like John Deere and Caterpillar, which has
facilities in my district.
{time} 1420
Mr. PETERSON. Madam Speaker, again, this bill clarifies what was the
original intent of the Dodd-Frank deliberations. Some of what's in this
bill, I think, has already been resolved, but there are some
clarifications here. If
[[Page H2099]]
there is duplication, it doesn't do any harm, so we support this bill
and encourage that it be adopted.
I yield back the balance of my time.
Mr. LUCAS. Madam Speaker, I yield myself the balance of my time.
I think, as we've heard here today, this piece of legislation is an
effort, in a very bipartisan way, to address some of the issues in
Dodd-Frank that need to be fixed. If you care about production
agriculture, if you care about Main Street business, if you care about
the people who work in the factories that produce the products and do
the things that make this great economy move forward, then you'll
support H.R. 3336.
It won't affect the five biggest financial institutions that do 96
percent of this kind of business, but it will help the people who
really toil and struggle every day to make a living. It will help the
small communities where those good folks live. It's a positive effort
to address issues that have come to light in the course of the Ag
Committee's exhaustive hearings.
I simply thank my colleague, Congresswoman Hartzler, for working
diligently on this bill. I thank the ranking member and my colleagues.
Let's vote for H.R. 3336. Let's try and help the folks back home.
With that, Madam Speaker, I yield back the balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Oklahoma (Mr. Lucas) that the House suspend the rules
and pass the bill, H.R. 3336, as amended.
The question was taken.
The SPEAKER pro tempore. In the opinion of the Chair, two-thirds
being in the affirmative, the ayes have it.
Mrs. MALONEY. Madam Speaker, on that I demand the yeas and nays.
The yeas and nays were ordered.
The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further
proceedings on this question will be postponed.
____________________