Political Quotes

“I present an amendment to this legislation. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: In section 319(b)(3) of the Federal Election Campaign Act of 1971, as proposed to be added by section 102(a) of the bill, strike subparagraph (A) and insert the following: ``(A) in which a foreign national described in paragraph (1) or (2) directly or indirectly owns or controls-- ``(i) 5 percent or more of the voting shares, if the foreign national is a foreign country, a foreign government official, or a corporation principally owned or controlled by a foreign country or foreign government official; or ``(ii) 20 percent or more of the voting shares, if the foreign national is not described in clause (i); ``(B) in which two or more foreign nationals described in paragraph (1) or (2), each of whom owns or controls at least 5 percent of the voting shares, directly or indirectly own or control 50 percent or more of the voting shares;''. The Acting CHAIR. Pursuant to House Resolution 1468, the gentleman from New Jersey (Mr. Pascrell) and a Member opposed each will control 5 minutes. The Chair recognizes the gentleman from New Jersey.”