Washington, DC (March 23, 2018) Congressman Steve Pearce today released the following statement in honor of the Bataan Memorial Death March taking place this Sunday, March 25, 2018 at White Sands Missile Range, New Mexico:
“Each year, I’m honored to join in the commemoration of the brave troops and nurses who fought in the defense of Bataan, Corregidor, Guam, Wake Island, and the Philippine Archipelago during World War II. The March, and events associated with it, hold tremendous historical significance for New Mexico. Nearly 2,000 of the men involved were members of New Mexico National Guard units. The Battle in the Philippines, especially the Bataan Death March, and ensuing internment, forced so many to face unspeakable horrors in the name of freedom. Our nation must never forget the heroism and courage of all those involved.”
Background On December 8, 1941, one day after the attack on Pearl Harbor, the 200th Coast Artillery Regiment began taking fire from enemy troops, as did many other units in the region. Under General Douglas McArthur’s command, the U.S. Armed Forces in coordination with Filipino soldiers admirably held the Japanese forces at bay for months, changing the momentum of the war in the Pacific.
With their main fighting force cut off from supplies and facing starvation, many of troops defending the Pacific region were forced to surrender into enemy hands. Over the following week, these service members endured a 65-mile march with no food, water, or medical supplies resulting in thousands of deaths, known today as the “Bataan Death March.”
Since 1990, the Bataan Memorial Death March has taken place annually at the White Sands Missile Range in New Mexico. This year, over 8,000 people are signed up to participate. This race commemorates the troops and nurses who fought in the defense of Bataan, Corregidor, Guam, Wake Island and the Philippine Archipelago during World War II.
Washington, DC (March 22, 2018) Congressman Steve Pearce today released the following statement after the U.S. House of Representatives voted and passed H.R. 1625, the Consolidated Appropriations Act, which authorizes $1.3 trillion in spending:
“This is not the process that Congress takes to ensure the federal government remains up and running. The House sent all 12 appropriations bills to the Senate on time for full-year budget certainty. However, the Senate Democrats stood in the way of our appropriations bills. Now, we’re left with one bill to cover an array of spending priorities for the nation, and only a short period of time to debate it. This is simply reckless.
We went month after month pushing the deadline for a long-term spending bill further and further down the road. While today’s bill does provide funds for the rest of the year, it was only introduced late last night and given less than 24 hours for Members to read and vote on it. On top of that, we had less than 2 hours to really debate the bill on the House Floor. This is no way to operate the federal government.
Today’s spending package wastes taxpayer dollars without providing real solutions to problems in our health care system, infrastructure, financial system, and national security.
What’s worse, this bill does not rollback burdensome regulations that severely affects farmers, ranchers, and small businesses in New Mexico who contribute to the strength of our economies. After years under an Administration that choked off resource production and crippled access rights across the West, people in our communities deserve relief to effectively operate. Instead, this bill leaves troublesome rules in place that forces many New Mexicans to comply with overreaching federal standards rather than having greater opportunities to flourish.”
Washington, DC (March 19, 2018) Congressman Steve Pearce today released the following statement after the New Mexico Public Regulation Commission (PRC) approved the Sagamore wind project in Roosevelt County by a unanimous vote:
“I’m pleased to hear that the Sagamore wind project has been approved for Roosevelt County. This project will lead to the largest wind farm in New Mexico history, significantly increasing economic output. I have always believed that New Mexico should be the nation’s leader in energy development, which can only be accomplished by moving our state to an ‘all-the-above’ energy approach. With this, states like New Mexico will contribute more to the responsible production and development of energy resources, generating more money for our schools, teachers, roads, and other essential services that our communities rely on.”
On November 29, 2017, Rep. Pearce sent a letter of support to the PRC for this project to move forward in New Mexico. This request was approved to move forward in Sagamore, 20 miles south of Portales, and will encompass about 100,000 acres.
Washington, DC (March 20, 2018) Congressman Steve Pearce today led the Terrorism and Illicit Finance Subcommittee hearing entitled “Exploring the Financial Nexus of Terrorism, Drug Trafficking, and Organized Crime.” This hearing explored the various ways transnational criminal organizations (TCOs) are financed, as well as the intersection between criminal groups and other illicit activity like terrorism and political corruption.
“Transnational criminal organizations (TCOs) operate on a global scale, crossing international boundaries to further their pursuit of power, influence, and profits. TCO’s are able to access global supply chains across the land, sea, air, and cyber domains to move goods, people, services, money, and data. The massive profits also ensure that these criminal groups are powerful enough to influence the political, judicial, and law enforcement branches of more vulnerable countries, providing them the protection to continue their illegal schemes and further expand their influence,” stated Rep. Pearce. “Today’s hearing was an opportunity to dissect the connection of transnational terrorism, crime, and corruption. I thank everyone for joining the Subcommittee to examine the nexus of terrorism, drug trafficking, and organized crime to better understand how powerful criminal organizations exploit the financial system for their illicit gain.”
Click here or on the image below to watch Rep. Pearce’s opening statement.
Background Transnational terrorism, crime, and corruption interact in varied and significant ways, all to the detriment of U.S. national security. While terrorist groups are driven by political or religious ideology, transnational criminal organizations (TCOs) are typically thought to be motivated by maximizing profits. Both the nature of transnational organized crime and the need of terrorist groups to fund their operations have national security implications, which are widely seen to be expanding, diversifying, and destabilizing. TCOs pose a significant and growing threat to national and international security and these networks and their financial facilitators are increasingly impacting Americans and U.S. interests in key regions.
Click here for more information on today’s hearing, including the Committee Memorandum and witness list.
Washington, DC (March 14, 2018) Congressman Steve Pearce today released the following statement after the U.S. Senate voted and passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act:
“I am pleased to see the Senate compile and pass this bipartisan package today. This bill takes a major step forward to undo the harm caused by Dodd-Frank’s overly burdensome regulatory structure that was meant for the largest banks but instead had its biggest effect on the small banks and credit unions in the rural towns of New Mexico. While this bill includes necessary provisions, there is still room for improvement. I’ve been working with my colleagues in the House to pass dozens of bipartisan bills that should be considered for inclusion in a final package. We must work together – both the House and the Senate – to strengthen the financial framework of our nation, support local communities, and encourage economic growth.”
S.2155 includes numerous provisions to roll back the harmful effects of the Dodd-Frank Act, relieving small banks of regulatory restrictions and providing consumers with more access to financial freedom.
Washington, DC (March 16, 2018) Congressman Steve Pearce introduced H.R. 5287, the Preserving Access to Rural Installment Transactions for Years (PARITY) Act, to improve access to safe and affordable housing for people in rural communities. Due to new federal government regulations, banks in rural towns across the nation have exited the market, leaving potential homeowners with few credit options for financing their purchase. This bill offers an alternative to these regulations and prevailing market interest rates by restoring the ability of an owner to self-finance a home for the prospective buyer directly.
“Since the housing crisis in 2008, people in rural communities have been paying the price for what happened on Wall Street. Today, burdensome regulations on mortgage credit has led potential homeowners with nowhere to turn for credit options. For states like New Mexico, this change has hit our communities hard. That is why I’ve introduced the PARITY Act to increase housing opportunities to moderate and low-income families, as well as first time home buyers. This bill also makes it easier for people like Ma and Pa who want to sell their property in retirement to do so, without removing any safeguards that protect consumers against abusive lending practices,” stated Rep. Pearce. “As someone who not only grew up in a rural town, but who also had a manufactured house as my first home, I understand the importance of multiple options for safe and affordable housing options in rural communities. It is my hope that this bill will serve as a solution for many sellers and potential homeowners throughout New Mexico and across the nation.”
Background H.R. 5287 amends the Truth in Lending Act to exempt from the definition of loan originator a seller providing financing for the sale of five or fewer properties in a 12-month period, of which the property is owned by the seller and used as security for the loan. Qualifying sellers include persons as well as entities, such as corporations, partnerships, proprietorships, associations, cooperatives, estates, and trusts.
Seller financing, also known as owner financing, is a type of financing where a property buyer finances the purchase directly through the person or entity selling it. Sellers agree to receive their equity in their property from the buyer in an installment sale, and the buyer and seller negotiate the terms of the sale; including the sale price, down payment, monthly payment, interest rate and amortization. The seller receives payments while the buyer gets the benefits of owning a property.
This type of financing is often used when the prospective buyer cannot obtain funding through a conventional mortgage lender, or is unwilling to pay the prevailing market interest rates. These transactions are common in the south and west, as properties in less populated areas often have features that do not easily fit the underwriting requirements of the Federal Housing Authority (FHA) and Government Sponsored Entities (GSEs) requirements; including older manufactured housing, homes located on larger acreages, and unique homes such as mountain cabins or other rural homes that do not include modern conveniences but are desirable to a buyer.
Washington, DC (March 15, 2018) Congressman Steve Pearce today led the Terrorism and Illicit Finance Subcommittee hearing entitled “After the Breach: the Monetization and Illicit Use of Stolen Data.” An increasing amount of cyber-attacks have led to electronic identity theft along with credit card and other types of fraud. This hearing examined the economics of cybercrime, the monetization of stolen data from cyber-attacks, the role that dark web marketplaces play in helping criminals profit from their theft, and how illicit proceeds are laundered into our financial system.
“Cybertheft is particularly damaging because the sensitive information being stolen, including Social Security Numbers, is difficult or sometimes impossible to change. The victim of a breach can become a victim repeatedly as their identity can be used to apply for credit cards, mortgages, and other financial products over and over again. Unfortunately, this activity is only becoming more widespread as criminal organizations realize the low cost of entry, the ease of using hacking tools, and the difficulty law enforcement faces trying to apprehend hackers. I thank the witnesses and my colleagues for discussing how we can combat these cyber-attacks and protect Americans’ sensitive information. I look forward to continuing this work so we can strengthen our financial system to better predict and prevent future breaches,” stated Rep. Pearce.
Background The monetization of stolen data, which has historically been a hurdle for cybercriminals, has become less difficult because of improvements in dark web black markets and the spread of digital currencies. Last month the Council of Economic Advisors released a report estimating that malicious cyber activity cost the U.S. economy between $57 and $109 billion in 2016, and this cost is expected to climb as more devices become internet connected. It is estimated that in 2017 there were 610 public and private breaches in the United States, triggering the exposure of 1.9 billion records.
Click here for more information on today’s hearing, including the Committee Memorandum and witness list.
Washington, DC (March 14, 2018) The U.S. House of Representatives today passed H.R. 1116, the Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2017, to reform mandates under Dodd-Frank and relieve small banks and other community financial institutions from burdensome compliance regulations. This bill requires federal regulatory agencies to tailor regulations to fit the institution’s profile and risk it presents to the stability of the financial system.
“Due to regulations under the Dodd-Frank Act, small banks and credit unions in rural communities around New Mexico, and across the nation, are regulated under a one-size-fits-all-approach without consideration of their size or risk profile. As a result, many small banks are unable to keep up with mounting compliance costs and are either forced to reduce services or shut down completely. From helping families purchase their first home to providing credit for small businesses, small banks and credit unions are important for generating job growth and economic prosperity in our communities. I’m pleased to see this bill move forward today, and will continue working to put an end to crippling financial regulations that punish Main Street.”
The TAILOR Act requires federal regulatory agencies, including the Consumer Financial Protection Bureau, to examine the risk profile and business models of banks as well as other community financial institutions under their jurisdiction and tailor any regulatory action appropriately.
WASHINGTON — U.S. Representatives Steve Pearce, Ben Ray Luján and Michelle Lujan Grisham and U.S. Senators Tom Udall and Martin Heinrich urged Secretary of Commerce Wilbur Ross not to approve additional tariffs on newsprint, which could devastate local papers across New Mexico.
In January, the Commerce Department imposed import duties on Canadian groundwood paper, a kind of newsprint used by newspapers across the country, and are now considering additional tariffs. According to the lawmakers and thousands of newspapers nationwide — including eight in New Mexico — the tariffs are dramatically increasing paper prices and additional cost increases would be unsustainable for many papers, especially small, local newspapers, and force some to shut down amid other ongoing financial pressures in the newspaper industry.
"The newspaper industry is facing duties on Canadian newsprint and changes to the cost of shipping, which could be catastrophic for publishers in the southwest. These changes will result in nationwide increases in newsprint prices," the lawmakers wrote. "We urge you to use your discretion to revisit the domestic industry’s support of this petition and consider the adverse impact to domestic manufacturers and publishers before proceeding with these investigations."
Full text of the letter is available here and below:
The Honorable Wilbur RossSecretary of CommerceUnited States Department of Commerce1401 Constitution Avenue N.W.Washington, D.C. 20230
Dear Secretary Ross,
We write to share our concerns and the concerns of constituents in our state over investigations into the import of uncoated groundwood paper from Canada. We urge you to fully consider domestic businesses and the potential impacts changes to the importation of uncoated groundwood paper would have on newsprint customers before proceeding with these investigations.
In December, alongside over one thousand newspapers in cities and towns across the country, eight local New Mexico newspapers wrote to you asking that the U.S. Department of Commerce, “heavily scrutinize the antidumping and countervailing duty petitions filed by North Pacific Paper Company (NORPAC),” and that imposition of duties on groundwood paper, “would have a very severe impact on our industry and many communities across the United States.”
The newspaper industry is facing duties on Canadian newsprint and changes to the cost of shipping, which could be catastrophic for publishers in the southwest. These changes will result in nationwide increases in newsprint prices. The countervailing duties announced in January of 4.4-9.9% and potential of further dumping penalties will add to the cost of publication and freight. Duties substantially increase the cost of newsprint and domestic mills are estimated to produce only a fraction of the total number of tons used by U.S. publishers.
Again, we urge you to use your discretion to revisit the domestic industry’s support of this petition and consider the adverse impact to domestic manufacturers and publishers before proceeding with these investigations.
Contacts: Jennifer Talhelm (Udall) 202.228.6870 / Whitney Potter (Heinrich) 202.228.1578 / Keeley Christensen (Pearce) 202.329.2862 / Joe Shoemaker (Luján) 202.225.6190 / Natalie Armijo (Lujan Grisham) 202.225.6316
Washington, DC (March 8, 2018) Congressman Steve Pearce released the following statement after the release of the Government Accountability Office’s (GAO) report on the amount of taxpayer dollars that went towards funding for abortion service providers, including Planned Parenthood Federation of America (PPFA), Marie Stopes International (MSI), and International Planned Parenthood Federation (IPPF):
“Congress has the responsibility to protect the rights and liberties of all American taxpayers, and to be transparent about how their hard-earned money is being spent. It has become common practice for the federal government to force taxpaying Americans, regardless of their conscience beliefs and faith, to foot the bill for organizations that provide abortion services. This is flat out wrong. Not only does it fly in the face of our nation’s freedoms and values, but it disrespects the sanctity of life. All human life is precious. I will continue working to ensure that all life brought into this world is valued and to stand up for the rights of those who cannot speak for themselves. Moving forward, Congress must look at policies, both foreign and domestic, to make sure the Constitutional rights and liberties of Americans are put first.”
Background Over 120 Members of Congress, both the House and Senate, requested the report which found that three organizations spent $410 million in federal funding between 2013 and 2015, while they received $1.2 billion federal and state funds. Altogether, more than $1.5 billion in taxpayer dollars funded abortion providers in the span of three years.
While the Hyde Amendment prevents any direct funding for abortions, federal dollars are fungible, meaning taxpayer dollars can be used to provide additional funding for abortion services. Further, there are no Hyde protections for state funds in New Mexico. Women who have New Mexico Medicaid and other HHS funding are currently able to use state tax dollars to fund abortions up to and including third trimester abortions.
2432 Rayburn HOB
Washington, DC 20515
Steve Pearce was born in 1947 to a large working-class family. He was raised in Hobbs, New Mexico, where his father worked as a roustabout, selling vegetables on the side of the road to make ends meet. With six children to feed, times were often hard in the Pearce household, but his upbringing has made it easy for Steve to relate to the hardworking people of southern New Mexico.
Steve attended New Mexico public schools his entire life, and graduated with a bachelor’s degree in economics from New Mexico State University and an MBA from Eastern New Mexico University. During the Vietnam War, Steve served as a combat pilot, flying over 518 hours of combat flight and 77 hours of combat support. He was awarded the Distinguished Flying Cross and two Air Medals, as well as seven other military medals and four exceptional service awards. Steve continued service at Blytheville Air Force Base in Arkansas, and attained the rank of Captain.
In addition to his firsthand knowledge of the military and its importance to America, Steve is a respected small-businessman who thoroughly understands the economic issues facing our country. He and his wife Cynthia long owned and operated Lea Fishing Tools, an oilfield services company in Hobbs. Because of this role, Steve is well aware of the regulations and taxes that plague small-business owners, and wants to help get government out of the way of these hard-working Americans. Having built his business from the ground up, Steve created 50 jobs in his community. He is confident that small businesses throughout southern New Mexico form the backbone for job creation and economic growth.
In 1996, Steve was elected to the New Mexico House of Representatives, where he served until 2000. During this time, he was elected as Caucus Chair and served on the Appropriations Committee. He was widely recognized for his work in economic development, in which he applied the commonsense principles he had gained as a small-business owner.
In 2002, Steve was elected to the U.S. House of Representatives, where he served until 2009. With the retirement of Senator Pete Domenici, many New Mexicans were concerned about the loss of a strong conservative voice representing New Mexico in the Senate. Steve again answered the call to serve by leaving the House and running for U.S. Senate. His bid was ultimately unsuccessful, but in 2009, amidst an economic crisis, the passage of the President’s healthcare bill, and expansion of government regulation, Steve decided to again run for Congress. As he explained to friends and family, he made the tough decision because he was afraid for his country, and wanted to keep fighting for New Mexico.
Today, Steve continues a lifetime of service as New Mexico’s only conservative voice in Washington. Steve was appointed by his peers to serve on the House Committee on Financial Services, and as chairman of the Congressional Western Caucus. He continues his work making New Mexicans’ voices heard, helping to create jobs in southern New Mexico, and fighting for the liberty of all Americans.
Retweeted by repstevepearce
New Mexico is in a perfect position to lead in all resource production. This is great news for southeastern NM that… https://t.co/GVtkbVbD9I
Retweeted by repstevepearce
Glad to help get the Sagamore wind project approved for Roosevelt County. This project will lead to the largest win… https://t.co/tb17C5MjhB
Retweeted by repstevepearce
Our hearing on the Financial Nexus of Terrorism, Drug Trafficking and Organized Crime is happening now! Chaired by… https://t.co/WHoABWHupl
Retweeted by repstevepearce