The Local Delegation: Sen. Ben Cardin (D-Md.)

Democratic U.S. Sen. Ben Cardin of Maryland was online Monday, June 9 at 2 p.m. ET to take your questions about his work and goals in Congress this year.

The transcript follows.

Sen. Cardin was elected to his first term in the Senate in 2006. Prior to that, he represented Maryland's 3rd District for five terms in the House, and was Speaker of the Maryland House of Delegates from 1979 to 1986.

____________________

Sen. Ben Cardin: Thank you for the opportunity to participate directly with the people in Maryland. This is a very helpful way to try to respond to your questions and I look forward to the discussion.

_______________________

Olney, Md.: In a recent e-mail newsletter, I read with interest the Consumer-First energy legislation that you co-sponsored. I am all for penalizing big oil with a 25 percent surcharge, now with gasoline prices north of $4 a gallon. Would you explain in more detail, this important legislation? Thanks in advance, and best wishes.

Sen. Ben Cardin: It's actually on the floor of the Senate. The bill would provide for a windfall profits tax against the oil industry and would eliminate unnecessary tax breaks the companies receive. These companies are making record profits, and there's no need for the government to subsidize even more. It also limits the impact of excessive speculation in the oil markets, which has driven up price. We really need to work together to become energy independent, so the tax breaks the oil companies receive today should be channels into renewable energy sources to help our nation become energy independent.

_______________________

Bethesda, Md.: If our party had increased domestic supply by allowing more drilling in Alaska or offshore and had supported more nuclear plants years ago, as many of us wanted, gasoline prices simply would not be as high as they are today. Those are facts. How much lower nobody knows, but it would be lower. These Democrats must say that you cannot blame this on the Bush administration -- our party has stood in the door against more domestic oil and more nuclear energy. More demand with static supply means prices go up. Economics 101.

Sen. Ben Cardin: In regard to nuclear power, I support and many Democrats support the responsible use of it. The legislation that was on the floor last week, that the Republicans killed would have allowed for the development of nuclear power. In regard to oil, we don't have a sufficient reserve of oil in America to make an impact on our energy independence. We still would import the majority of our oil needs. We need to develop an energy policy so that we are energy independent, using green energy that is friendly to our environment.

_______________________

Fairfax, Va.: I was somewhat encouraged by the climate change vote last week, even though it fell short of the 60 necessary votes. What chances do you give a similar bill next year (with a Democratic president, hopefully!), and will you be able to convince Republicans to hop on board without Sen. John Warner?

Sen. Ben Cardin: I was very pleased that we had 54 senators who voted for or indicated their support for the global warming bill that was on the floor of the Senate last week. That included Democrats and Republicans, and I believe a growing number of legislators know we must act for the good of our country. Sen. Obama indicated support for this legislation, and I'm hopeful the next Congress will pass a bill similar to what the Senate considered last week. It is critical to do that if we are going to have an energy policy that not only makes America independent from oil from foreign countries, but also a leader on global warming.

_______________________

Junction City, Ore.: Sen. Cardin, I would like to make a suggestion. Obama, Clinton and other Democrats have been attacking our oil companies because of their high profits. Rather than confiscate their profits under the guise of a "windfall profits tax" (aka eminent domain of their money, aka stealing others' money), take away some of their loopholes and subsidies related to their current line of business and give them tax or other incentives to spend some of those "windfall profits" on working on specific alternative energy solutions.

I'd bet anything that with the proper incentives, the biggest problem Congress will face in a couple of years is all the smaller, alternative energy companies complaining about competition, and asking Congress for protection from the oil company juggernauts that would be invading the turf of these smaller companies! The problem wouldn't be lack of inventiveness and resources, it would be too much competition from "the big boys" that have suddenly seen the light regarding alternative energy development.

Sen. Ben Cardin: I agree with your point. The legislation that is being considered on the floor -- the Consumer-First Energy Act would take the revenues from the windfall profits and the repeal of tax breaks to the oil industry and use those funds to offer incentives for renewable energy. That would do exactly what you have suggested -- offering economic incentives so businesses find a way to produce clean energy.

_______________________

St. Mary's City, Md.: Would you favor closing the loopholes in the Commodity Futures Trading Commission's trading limits for oil, as outlined in David Cho's article on Friday?

washingtonpost.com: Investors' Growing Appetite for Oil Evades Market Limits (Post, June 6)

Sen. Ben Cardin: Yes -- I do believe that the commodity trade regulations today are inadequate to deal with the current market speculation of oil futures. Once again, the legislation currently on the floor of the Senate is aimed at correcting that.

_______________________

Bethesda, Md.: To us, it is of singular note that Joe Lieberman is campaigning for John McCain. This, to us, speaks volumes about McCain's ability to work with our party. What comparable Republicans are supporting Obama? If none, what does this mean?

Sen. Ben Cardin: I am certain that there are many Republicans who have supported Sen. Obama in his campaign to get the Democratic nomination and to be president. Sen. Obama has attracted a lot of new participants in the political process and is reaching out to Democrats, Republicans and independents. Of course, Joe Lieberman was elected as an independent. I don't want to speak for other people, but I feel relatively comfortable saying Bernie Sanders is supporting Barack Obama, and he's also an independent.

_______________________

Philadelphia: How much of an issue in Maryland is the war on Iraq, and might there be enough concern about ending the war among enough Maryland voters that Obama could carry Maryland?

Sen. Ben Cardin: I believe that Sen. Obama will carry Maryland in the presidential election. I believe one of the reasons is his stance on the war in Iraq. Most Marylanders agree that we should be bringing our troops home in a responsible manner, and that the Iraqis should assume more responsibility for their own country.

_______________________

Crestwood, N.Y.: I know that this may not be your area of concentration as a representative, but I cannot pass up the opportunity to address this question to a member of the Democratic majority: What exactly is the Congress doing, proactively, to prevent the Bush administration from rushing ahead with these secret deals to tie the hands of the next Democratic president in Iraq, and to make permanent our military involvement there? Doesn't this emergency situation call for creativity on the part of the leadership, which always seems to work only in reactive fashion to each revealed abuse of the Constitution?

Sen. Ben Cardin: Well, I think this is a very important question. The foreign relations committee has held hearings on this. I believe it is wrong for the president to negotiate a security agreement with the Iraqis without the approval of Congress, even though it is being subject to the approval of the Iraqi Parliament. The administration has assured us that such an agreement would contain no legal commitment to defend Iraq. However, I am concerned about the moral responsibility that could be argued that could be argued with such an agreement. I have called upon the president to request the approval of Congress for any such agreement. In reading recent press accounts, it appears the administration is having difficulty negotiating this deal, and there certainly is hope that this agreement will not be entered into by this administration. If an agreement is reached, those of us in Congress who oppose it have made it clear that it will have limited impact on the next administration's decision with regard to troop levels and mission in Iraq.

_______________________

Baltimore: How come you waited until so late to come out with a presidential endorsement?

Sen. Ben Cardin: Both Sen. Clinton and Sen. Obama are friends of mine, and both worked to help elect me to the U.S. Senate. I believe either would have been a strong candidate, and a great president. Therefore I indicated early that I would respect the judgment of the participants in the Democratic primaries and caucuses. Once the last primary was held, I announced my support for Sen. Obama.

_______________________

Silver Spring, Md.: I really appreciate your interest in the Anacostia River and watershed. The Army Corps of Engineers is currently working on designing restoration projects for the Anacostia watershed. If the projects look good to you, will you work to see that they are funded and carried out?

Sen. Ben Cardin: Absolutely -- the Anacostia is a beautiful river with a proud history, and I hope a bright and clean future. There are many ways we can improve the quality of the river and the manner in which it is used by those properties that abate the river. I plan to work very closely with the other members of the congressional delegation.

_______________________

Baltimore: The Bear Stearns bailout was a horrible example of the maxim, "privatize the profits, socialize the risks". The employees got the shaft, the big shots lost a lot of money but still had enough to maintain their seven or eight houses.

As the repercussions from the subprime bubble continue to work themselves out, how can we keep the risks from disproportionately affecting people who are living on the edge?

Sen. Ben Cardin: Well, my major concern about the way that the administration has responded to the current economic problem is that they show urgency for Wall Street, but not for Main Street. I believe there are many homeowners who could have been in traditional mortgages who were steered into subprime mortgages. There are many homeowners who have lost value in their properties because other properties in their neighborhood have gone through foreclosure. I believe the federal government has a responsibility to try to help restore economic growth. It's not a question of bailing out investors, because investors should be subject to the risks of their investments. It's a matter of trying to help restore growth to our economy, and protect those who otherwise would be victimized.

_______________________

Washington: Sen. Cardin, thank you for holding this discussion. While it might seem nothing more than semantics, I would argue that the term "energy security" is a more honest approach and achievable goal than "energy independence". To be truly energy independent is impossible based on every projection of supply and demand I've seen.

Sen. Ben Cardin: I'll concede the point. Good point.

_______________________

Baltimore: What's your position on immunizing the telecom companies for their illegal warrantess wiretapping?

Sen. Ben Cardin: I am opposed to retroactive immunity -- however, I think it's up to the courts to determine the legality of the releases of information. I understand the desire of the telecommunication companies to assist our government, but I do think it is important that the courts have the power to protect all of our civil liberties.

_______________________

Chevy Chase, Md.: Senator I was proud to vote for you. Can you help me get a job on the Hill?

Sen. Ben Cardin: (Laughs.) I'm always prepared to try to help constituents.

_______________________

Los Angeles, CA: An abusive aspect of US capitalism is that Bear Sterns' Chairman can get $61 Million after leading the company to its demise, shareholder losses and a government bailout. Republican stress less government regulations, but wouldn't tighter industry regulations help to eliminate abuses?

What's your reaction to these proposed regulations? 1- Federal employees regulating banks, brokerages and hedge funds be barred from working for these companies until a reasonable period has expired, say 3-5 years. This helps avoid conflicts of interest such as occurred in the in 2002-03 Boeing-Pentagon scandal. 2- Purchasers of a stock that decline dramatically in price within 60-90 days of purchase (e.g., Bear Stern going from $100+ to $2) be able to reverse the purchase transaction if the company reported fraudulent or grossly inaccurate accounting information. 3- If regulators find grossly inaccurate or fraudulent information, bonuses paid to company officials who produced or certified such information be subject to recovery by regulators and paid back to the company or shareholder.

Sen. Ben Cardin: I think we will look at what has happened in our economy in the past year and develop appropriate regulatory and legal changes to protect against similar problems happening in the future. That's true as it relates to financial institutions as well as mortgage companies, real estate companies and other institutions that have been involved in the current downturn of our economy. We know we need to do a better job in financial literacy, particularly for homebuyers, and we know we need to do a better job regulating the mortgage industry, but as your question points out, we also need to take a close look at financial institutions and the regulatory system to make sure it protects the investors, employees and public.

_______________________

Sen. Ben Cardin: I want to thank all who participated. It is clear that people are very concerned about energy prices and our economy. Typical families are finding it difficult to afford filling up their car with gas, their health care bills, their housing costs and just keeping their heads above water. I strongly hope that Congress will put aside its partisan differences and listen to typical Americans who want us to deal with these issues in a constructive manner. I appreciate your questions today, and your suggestions, and I look forward to working on these issues in the United States Senate.

_______________________

Editor's Note: washingtonpost.com moderators retain editorial control over Discussions and choose the most relevant questions for guests and hosts; guests and hosts can decline to answer questions. washingtonpost.com is not responsible for any content posted by third parties.