On the agenda today, resolution on the peaceful transfer of power after the president ial election, live house coverage at cspan. The speaker pro tempore the ouse will be in order. The chair lays before the house a communication from the speaker. The clerk speakers rooms, washington, d. C. September 29, 2020. I hereby appoint Emanuel Cleaver to act as speaker pro tempore on this day. Signed, nancy pelosi, speaker of the house of representatives. The speaker pro tempore the prayer will be offered by our chaplain, father conroy. Haplain conroy let us pray. Lord, father of us all, we give you thanks for giving us another day. As the stresses of the pandemic and as economic and educational effects stubbornly continue, we ask you once again to send your spirit of peace and healing upon our nation. Bless those who labor to bring healing and teaching during these difficult times. Comfort all who are ill with coronavirus and those who mourn the loss of loved ones because of it. As the members
Financial roadblocks. This is an hour and ten minutes. Mr. Chairman, are you ready to begin . Yes. Please begin your fivesecond countdown. 5, 4, 3, 2, 1. Good afternoon. I call this hearing to order. A quorum is present. Without objection, the chair is authorized to call a recess at anytime. I would like to go over items. If you are experience connectivity issues, please contact your staff. It is committee and Sub Committee, participating members will be muting when not recognized and its out of courtesy so that background noise did not interfere with another member recognized to speak. When you are recognized you need to unmute your microphone and pause before speaking so we can hear everything you say. In order to ensure that everything members say is captured on the live stream of the hearing members are asked to pause for two to three seconds before beginning to speak. If you wish to have a document inserted in the record please ask for unanimous consent and have your staff email t
[inaudible conversations] welcome, everybody, todays hybrid hearing. Pursuant house rules some members will appear in person and others will appear remotely via webex. Since some members are appearing in person let me first remind everyone that pursuant to the latest guidance from the house attending physician all individuals attending this hearing in person must wear a face mask. Members who are not wearing a face mask will not be recognized. Let me also make a few reminders for those members appearing in person. You will see members and witnesses appearing remotely on the monitor in front of you when youre speaking in what is known in webex as active speaker view. At time is visible in the room directly in front of you. For members appearing remotely i know you are all familiar with webex by now but let me remind everyone of a few points. First you will be able to see each person speaking during the hearing. Whether they are in person or remote, as long as you have your webex set to
Companies preparing for less than historic times. Cocacola and gm announcing thousands of job cuts. Isnwhile, capital one cutting borrowing limits on credit cards. This is coming just as stimulus money is running out and people need loans the most. Romaine interesting that they would take this action. The credit market dropped pretty dramatically prior to covid19. The number of credit card loans outstanding on a household basis dropped in the first quarter. It accelerated in the second quarter. That was the sharpest drop on record. I guess the question is what caused that. People were shopping and traveling less, but there is also a sense, and you see this in some of the data, that credit card lenders were tightening their standards. Interesting, this data on your screen only goes through the end of the second quarter. Talkede and we particularly this week of the Federal Reserve committed to keeping lower for longer. Come intohe drip feed the real economy . At the moment, we are seeing
Next, look at efforts to modernize Information Technology across government agencies. The House Oversight subcommittee hearing includes the chief Information Officers from the Government Accountability office, the office of personnel management, white house budget the education department. This is about 2. 5 hours. 5, 4, 3, 2, one. [gavel] welcome, everybody to the Sub Committee on government operations. And our hearing. Pursuant togin, house rules, most members today webex, remotely. Some members are appearing in person, or at least this member is, let me remind you that all individuals attending the hearing in person must wear a face mask. I am dropping mine only to speak. Maskrs not wearing a face will not be recognized. Let me also make some reminders for those appearing in person. You will only see witnesses appearing remotely on the monitor in front of you. In activeare speaking speaker view. A timer is visible in front of you. Remotely,attending let me remind everybody about poi