[Congressional Record Volume 169, Number 18 (Friday, January 27, 2023)]
[Extensions of Remarks]
[Page E64]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   SECURITIES AND EXCHANGE COMMISSION REAL ESTATE LEASING AUTHORITY 
                             REVOCATION ACT

                                 ______
                                 

                               speech of

                        HON. SHEILA JACKSON LEE

                                of texas

                    in the house of representatives

                      Wednesday, January 25, 2023

  Ms. JACKSON LEE. Mr. Speaker, I rise today in support of H.R. 388--
the Securities and Exchange Commission Real Estate Leasing Authority 
Revocation Act.
  This bill would amend Title 40 of the United States Code and would 
limit the Securities and Exchange Commission's ability to lease general 
purpose office space.
  The authority to lease general purpose office space should be under 
the General Services Administration.
  Involving the SEC in real estate leasing is useless, excessive, and 
redundant when GSA was created for that very reason.
  This bill was first introduced in 2011 after the SEC engaged in 
improper sole-source procurement of nearly one million square feet of 
leased space.
  In 2021, the SEC said that GSA will be used in the future for real 
estate procurements, but this bill would ensure that going forward.
  This bill would also mandate the Comptroller General of the United 
States to submit reports on Independent Leasing Authorities to both 
House and Senate committees.
  H.R. 388 would ensure that Congress is able to accomplish its 
constitutional obligations and enhance the efficiency and 
accountability of the federal government for the overall good of the 
American people.
  Furthermore, due to the Comptroller Generals reports measuring the 
effectiveness of spending policies, it is crucial that these 
independent leasing reports are updated without fault.
  The government itself cannot operate effectively without such 
essential information being updated annually and being communicated to 
other committees and federal agencies that profit from such insight.
  It is pertinent that the American public's tax dollars are being 
utilized efficiently and this bill will ensure that.
  I urge my colleagues to join me in support of this important 
legislation that will ensure that the General Services Administration 
would be in charge of leasing office space for governmental agencies.
  We must utilize federal funds properly and this legislation will be 
one step closer to that.

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