Providing for Consideration of H.R. 10, Scholarships for Opportunity and Results Reauthorization Act, and Providing for Consideration Of H.R. 692, Default Prevention Act

Floor Speech

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Ms. FOXX. Mr. Speaker, House Resolution 480 provides for consideration of H.R. 10, the Scholarships for Opportunity and Results Reauthorization Act, and H.R. 692, the Default Prevention Act.

These bills are important steps forward on two issues of great importance to Americans: education and fiscal issues.

H.R. 10, the Scholarships for Opportunity and Results Reauthorization Act, also known as the SOAR Reauthorization Act, would continue important funding provided to help young students here in Washington, D.C., reach their full potential. This legislation would provide $60 million annually for 5 years, split equally among the District's public schools, charter schools, and the District of Columbia Opportunity Scholarship Program, which enables low-income students to attend a private school that would otherwise be out of their reach.

Two amendments to the bill have been made in order for consideration, one by a Republican and another by a Democrat.

I have great confidence that the SOAR Reauthorization Act is a positive step for students in the District of Columbia and that, through its example, it will provide a model for success that could be adopted by States across the country.

The rule also provides for consideration of H.R. 692, the Default Prevention Act. As my colleagues are all aware, the Treasury Department has asserted that its ability to use extraordinary measures to avoid reaching the statutory debt limit will be exhausted in coming days, possibly by November 3.

The legislation before us is a vital step to take default off the table, should extraordinary measures be exhausted, providing certainty to financial markets and hardworking Americans that we will pay our debts and meet our obligations.

The Default Prevention Act would authorize the Secretary of the Treasury to issue debt obligations necessary to continue making principal and interest payments on our debt, and would also ensure continued access to the funds in the Social Security trust fund necessary to pay Social Security benefits in full.

Mr. Speaker, it is simply common sense that we permanently close out the possibility of default and give seniors and other Social Security beneficiaries confidence that they will continue to receive the funds they rely on.

We can protect the full faith and credit of the United States and ensure that our credit ratings and economy are not impacted by policy battles here in Congress over future spending policies.

Mr. Speaker, I commend this rule and both of the underlying bills to my colleagues for their support.

I reserve the balance of my time.

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Ms. FOXX. Mr. Speaker, it is a big surprise to see a member of the minority opposing the provision of additional education funding to low-income students.

My colleague earlier mentioned that some members of the D.C. Council oppose H.R. 10. I would like to bring it to the attention of the House that D.C. Councilwoman Anita Bonds has asked that her name be removed from that letter, saying: ``I am hopeful that many more of our neediest families have the opportunity to take advantage of the program.'' She knows that students in public, charter, and private schools all benefit equally from this legislation, and I welcome her support.

Mr. Speaker, I now yield 5 minutes to the gentleman from California (Mr. McClintock).

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Ms. FOXX. Mr. Speaker, I yield myself such time as I may consume.

These are crucial bills. They make significant progress on two important issues: addressing our fiscal crisis in a responsible manner and the education of our next generation.

We cannot squander the incredible wealth this country has built over decades of hard work by the American people. The full faith and credit of the United States is not ours here, as Members of Congress. It is theirs, the American people. We are the reserve currency because individuals across the world look to us for prudent fiscal choices and rock-steady resolve in our principles and integrity.

There are few debates more contentious in this body than those over spending levels or the leverage points that our system provides to exert control over those levels.

The Default Prevention Act would enable us to continue to fight tooth and nail over the right direction for our country's finances while giving Americans and financial markets certainty that they can remain confident in the Federal Government meeting its obligations.

We can and should stay up late at night and have passionate debates in this Chamber over how to address mandatory spending, but we shouldn't allow retired and disabled Americans to stay up late at night because they fear their Social Security checks won't arrive.

The Default Prevention Act is commonsense legislation to remove catastrophe as a possibility by enabling the Secretary of the Treasury to issue debt necessary to make principal and interest payments on the national debt and pay Social Security benefits in full. It is the right first step in beginning a conversation about how to constructively address our immense fiscal challenges.

If we don't address those challenges, we will be unable to provide for other important programs, such as the Scholarships for Opportunity and Results Reauthorization Act, or SOAR Reauthorization Act, which this resolution provides for consideration of as well.

As any parent knows, the education of our children is one of our highest priorities. For far too long children in Washington, D.C., have not received the education they deserve, but have suffered from unacceptable achievement levels in graduation rates.

The SOAR Reauthorization Act continues a successful three-sector approach to improving the lives and educational outcomes of low-income students in the District. It provides $60 million in funding for students, split equally among D.C. public schools, charter schools, and scholarships for students to attend private schools that would otherwise be out of reach.

Students receiving private school education have demonstrated higher test scores and significantly higher graduation rates, showcasing the importance of continuing students access to these institutions.

These programs are an important example of the need for innovation and experimentation in how to best reform our educational system to benefit students, not entrenched interests.

It has been an honor for me to personally witness some of the students who have benefited from the programs included in the SOAR Reauthorization Act. After seeing the hope for the future these students have in their eyes, I cannot fathom preventing other students from receiving their own second chances.

Mr. Speaker, I believe both of these underlying bills are positive steps forward on issues of great import to our Nation, and I commend them and this rule providing for their consideration to all of my colleagues for their support.

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