Jeff Merkley

The Promoting Electric Vehicle Act of 2011 represents a critical step in ending the very real economic and national security threats posed by our dependence on imported oil.

We need to take charge of our economic health, our economic future which means breaking our addiction to foreign oil.

Electric vehicles eliminate pollution from the tailpipe.

By meeting our transportation energy needs from domestic fuels we reduce economic and security risks.

Transportation now accounts for approximately 71 percent of American oil consumption.

Transportation is the circulatory system of our economy.

APTA believes that the full family of services ought to be available, including bus rapid transit.

It is music to my ears, and I look forward to working with you on this critical infrastructure piece.

I came here directly from testifying on an electric vehicle bill, which has a lot to do with reducing oil consumption.

I was very struck recently by hearing the statistic that China is investing 10 percent of their GDP in infrastructure, Europe, 5 percent and America 2 percent.

I think just this short conversation shows how important this set of issues is in order to taking and restoring a healthy mortgage market, which is essential to working families being successful in home ownership and rebuilding their…

So fundamentally, there should be an incentive to have that loan perform and to engage in some sort of modification.

Yes, eliminate that conflict of interest. Thank you. That is helpful.

I simply deeply appreciate the folks who have come to testify on such an important issue to the health of our families and the health of our economy.

I want to join my colleagues in thank you, Chairman Bair, for your hard work during an incredibly difficult time in America's financial picture.

We have seen basically a doubling of the national debt under the Bush administration and then a tripling of the national debt as a result of the house of cards that was built in the mortgage deregulation by the Bush administration.

Do we want a country where families participate in the wealth of this Nation, where they are able to send their children to college, plan for their retirement, own a home, be part of an ownership society, or one in which essentially fewer…

I want to thank you all for the work you are doing and I am out of time.

Yes. It is kind of the beginning of a much more in-depth conversation. Thank you.

If there is no further business to come before the Senate, I ask unanimous consent that it adjourn under the previous order. There being no objection, the Senate, at 6:59 p.m., adjourned until Thursday, May 5, 2011, at 10 a.m…

The next rollcall vote is expected on Monday, May 9, at 5:30 p.m. That vote will be in relation to a nomination. ____________________

You would be hard pressed to find a single family that bought their first house with a 20 percent down payment.

We have been cheerleading for a year and a half and seeing virtually no results on the ground.

The lesson was you do not allow kickbacks to loan originators. You do not allow undocumented loans.

I certainly echo the thoughts of my colleague from Rhode Island that it has been extremely disappointing to see how incredibly slow the action has been to address even these fundamental issues of process.