WEBVTT - Senator Jeanne Shaheen Talks Foreign Relations and Rare Earth Minerals

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>We're joined now by Democratic Senator Jean Shaheen of New Hampshire,

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<v Speaker 2>an important voice as she is ranking member of the

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<v Speaker 2>Senate Foreign Relations Committee and also serves on the Senate

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<v Speaker 2>Appropriations Committee. I should mention the Senator is joining us

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<v Speaker 2>from a rare Earth's processing plan run by Phoenix Tailings

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<v Speaker 2>at Exeter, New Hampshire, and Senator, we're looking forward to

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<v Speaker 2>hearing more about why you're there. I want to ask you, though,

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<v Speaker 2>first about this situation with Iran, as the State Department

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<v Speaker 2>calls on American citizens to leave the country immediately. Is

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<v Speaker 2>this the prelude to war?

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<v Speaker 3>Well, I hope not. I think the talks and Aman

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<v Speaker 3>are a very good sign. I think there is great

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<v Speaker 3>concern about Iran, both their attempt to get a nuclear

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<v Speaker 3>weapon and they're very close to that, as well as

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<v Speaker 3>all of the support that they provide to terrorist groups

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<v Speaker 3>across the Middle East. So negotiations are always better than fighting,

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<v Speaker 3>and I hope that these negotiations will lead to something.

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<v Speaker 2>Well, I do hear you on that, but the President

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<v Speaker 2>of course has kept military options on the table. We

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<v Speaker 2>have a massive armada, as he likes to call it off.

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<v Speaker 2>The coast of Iran prepared to strike. The USS Lincoln

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<v Speaker 2>Carrier strike Group is there, and we've put a number

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<v Speaker 2>of other assets in the region. The President has repeatedly

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<v Speaker 2>said things like help is on the way to protesters.

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<v Speaker 2>He said this week that Iran should be very worried.

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<v Speaker 2>Some have suggested that every time the President has assembled

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<v Speaker 2>this much hardware, he has intended to use it. How

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<v Speaker 2>about this time.

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<v Speaker 3>Well, we don't know. I don't have any insights into

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<v Speaker 3>the presidents thinking about this. But again, that's why these

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<v Speaker 3>talks are so important. If we can reach some agreement

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<v Speaker 3>around around support for terrorist groups in the region, if

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<v Speaker 3>we can reach some support around slowing down their effort

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<v Speaker 3>to get a nuclear weapon, that will be positive not

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<v Speaker 3>just for the region, but for global security. So there's

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<v Speaker 3>a lot writing on these talks. I hope they're going

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<v Speaker 3>to stay at the table and come to an agreement.

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<v Speaker 2>Can I ask what you think about who's at the table?

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<v Speaker 2>These are being framed as indirect talk, Senator, but we

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<v Speaker 2>once again see the President, Special Envoy Steve Whitdcoff and

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<v Speaker 2>his son in law Jared Kushner speaking for the United States.

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<v Speaker 2>So those the two people who should be in the room.

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<v Speaker 3>Well, I hope they've got some backup from the State

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<v Speaker 3>Department as well. But the fact is it's important to

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<v Speaker 3>have somebody who can speak for the president, who's close

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<v Speaker 3>to the president, so that they have some credibility as

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<v Speaker 3>they go into talks. And I think both Steve wood

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<v Speaker 3>Coff and Jared Kushner have that credibility.

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<v Speaker 2>Well, in the spirit of national security, we've been talking

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<v Speaker 2>a lot about critical minerals in rare earths here in Washington.

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<v Speaker 2>This week, the President gathered a number of countries in fact,

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<v Speaker 2>to start work on what is at least beginning as

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<v Speaker 2>a twelve billion dollar critical minerals stockpile. And it's something

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<v Speaker 2>that you've been leaning into as well with your Secure

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<v Speaker 2>Minerals Act. I'd like to ask you what you're looking

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<v Speaker 2>at here. It's a bipartisan piece of legislation as you

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<v Speaker 2>join us, as I mentioned from Phoenix Trailings, a rare

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<v Speaker 2>earth's processing plant with its eyes on American minerals and

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<v Speaker 2>processed here in the United States, what would your legislation

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<v Speaker 2>do to add to what the President's up to.

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<v Speaker 3>Well, Phoenix Tailings is a company here in Exeter, New

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<v Speaker 3>Hampshire where I am. As you can see from my

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<v Speaker 3>backdrop right now, I've had a great opportunity to talk

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<v Speaker 3>to the folks here. They're one of just a handful,

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<v Speaker 3>a very small, less than five companies in the United

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<v Speaker 3>States that are actually doing the processing of rare earth minerals.

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<v Speaker 3>And why that's so important, as you know and so

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<v Speaker 3>many of your viewers understand, is because those are elements

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<v Speaker 3>that are in everything from our appliances to our cars,

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<v Speaker 3>to our missiles and our aircraft. So they are critical

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<v Speaker 3>to everything we do. And right now, ninety percent of

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<v Speaker 3>the processing of those elements is being done in China,

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<v Speaker 3>and so we are subject to whatever China's whims are

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<v Speaker 3>about whether they're going to continue to sell us those

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<v Speaker 3>rare earth elements. And that's why companies like Phoenix Tailings

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<v Speaker 3>are so important, and what our legislation is designed to

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<v Speaker 3>do is to try and support that domestic industry in

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<v Speaker 3>the United States. What Phoenix does is to take mine tailings,

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<v Speaker 3>so what's left over when mining is done, and they

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<v Speaker 3>have a process here to develop those into one of

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<v Speaker 3>this some of the seventeen rare earth minerals that are

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<v Speaker 3>so important in all of those appliance's everything appliances to

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<v Speaker 3>missiles to everything else that we use computers in the

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<v Speaker 3>modern world. So it's really important for us to develop

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<v Speaker 3>that domestic industry, and that's what our legislation does.

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<v Speaker 2>Well, the way you frame that is really important, Senator,

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<v Speaker 2>because as we're constantly reminded in this conversation about finding

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<v Speaker 2>rare Earth's critical minerals for anything from data centers to

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<v Speaker 2>weapons to cars, as you put it, or even our

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<v Speaker 2>cell phones, it's not so much finding the minerals, it's

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<v Speaker 2>processing them. How will your legislation go to enhancing processing

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<v Speaker 2>here in the United States.

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<v Speaker 3>Well, it sets up strategic Resilience Reserve we call it.

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<v Speaker 3>That's sort of based on the Strategic Petroleum Reserve and

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<v Speaker 3>very much like what the president's proposing in terms of

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<v Speaker 3>his policies this week as part of this critical Mineral

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<v Speaker 3>summit that he had in Washington, and so I think

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<v Speaker 3>they complemented other But our legislation doesn't just set up

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<v Speaker 3>that reserve that takes allows us to stockpile those critical minerals.

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<v Speaker 3>What it also does is to support a domestic industry

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<v Speaker 3>here so that small businesses can develop the industry that

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<v Speaker 3>they can engage helps them with access to capital markets with.

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<v Speaker 4>Funding.

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<v Speaker 3>We would authorize two and a half billion dollars for

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<v Speaker 3>the proposal, and we're working in a bipartisan way. It

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<v Speaker 3>would create a seven member board that would function sort

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<v Speaker 3>of like the Federal Reserve Board over banking and be

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<v Speaker 3>independent and make recommendations for how we could continue to

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<v Speaker 3>support this industry.

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<v Speaker 2>Spending time with Senator Jean Shaheen of New Hampshire, and

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<v Speaker 2>I have to ask you, Senator, about what's happening on

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<v Speaker 2>Capitol Hill right now. And I know that makers are

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<v Speaker 2>out of town at the moment, but we've got another deadline.

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<v Speaker 2>We're going to be sitting here a week from tonight,

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<v Speaker 2>possibly talking about the shutdown of the Department of Homeland Security.

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<v Speaker 2>And I know you're familiar with the list of demands

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<v Speaker 2>that Senator Schumer and Democratic Leader Jeffries have sent to

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<v Speaker 2>Republican leaders. Demasking is a big part of this body cameras,

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<v Speaker 2>as noted already by the Department of Homeland Security, but

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<v Speaker 2>also restrictions on the use of warrants, for instance, and

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<v Speaker 2>some other training ideas that have been rejected out of

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<v Speaker 2>hand by a number of your Republican colleagues in the Senate.

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<v Speaker 2>We've talked to several of them this week's Senator, including

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<v Speaker 2>John Cornyn, Ted Budd and Ted Cruz. Let's listen to

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<v Speaker 2>what they said.

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<v Speaker 1>The reason that I say ages are having to wear

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<v Speaker 1>masks is because the Left is deliberately dosing them. They

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<v Speaker 1>are targeting them if they find out their identities. They

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<v Speaker 1>are sending violent protesters to their homes, They're threatening their families.

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<v Speaker 1>We've got them using body cams for their operations right now.

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<v Speaker 2>I think that's a bypart.

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<v Speaker 1>That's an idea.

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<v Speaker 4>These ICE agents are being targeted by some of the

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<v Speaker 4>anti ICE instigators, and I think in some instances their

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<v Speaker 4>identity should be protected. But this is just to me,

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<v Speaker 4>just a ridiculous request.

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<v Speaker 2>Senator. I don't know how much of this is bluster

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<v Speaker 2>at the outset of a controversial or difficult negotiation, but

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<v Speaker 2>it sounds like Democrats and Republicans are oceans apart on

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<v Speaker 2>these ideas. Does DHS shut down next week?

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<v Speaker 3>Well, that's what the negotiation is about. And with respect

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<v Speaker 3>to masking, obviously there would need to be a waiver

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<v Speaker 3>to address any particular concerns about doxing. But I was

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<v Speaker 3>governor in New Hampshire for three terms. The state Police

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<v Speaker 3>in New Hampshire. Local law enforcement in New Hampshire never

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<v Speaker 3>wore masks when they were going to a crime scene

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<v Speaker 3>or going to arrest people. The fact is the American

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<v Speaker 3>people are not only outraged, but many are afraid about

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<v Speaker 3>the behavior of ICE. When ICE is able to kill

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<v Speaker 3>American citizens with impunity on America streets, there is a problem,

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<v Speaker 3>and what we need is reform that addresses the concerns

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<v Speaker 3>about how ICE is operating. It seems to me that's

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<v Speaker 3>in everybody's interest. It's in the population's interest, it's in

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<v Speaker 3>Republican and democratic interests to try and reach some accommodation.

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<v Speaker 3>I hope that's what these negotiations are going to be

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<v Speaker 3>able to achieve.

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<v Speaker 2>We've seen ICE deployed in the state of Maine, one

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<v Speaker 2>of your neighbors, Senator, do you have any reason to

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<v Speaker 2>believe that they would be deployed in New Hampshire.

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<v Speaker 3>Well, We've had ICE agents here arresting people. I've been

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<v Speaker 3>to facilities where I talk to child care center where

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<v Speaker 3>I hear from those who are working there that they

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<v Speaker 3>have parents who are afraid to come and drop their

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<v Speaker 3>children off because they're worried about ice agents. There are

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<v Speaker 3>people in school rules in New Hampshire who are worried

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<v Speaker 3>about agents. Know that's not making our community safer, that's

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<v Speaker 3>making people afraid. I don't think that's Most New Hampshire

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<v Speaker 3>constituents that I talk to want a secure border. They

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<v Speaker 3>want to send back the criminals who are here illegally.

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<v Speaker 3>But what they don't want is people coming into their communities,

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<v Speaker 3>disrupting their schools, disrupting their hospitals, disrupting their childcare centers.

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<v Speaker 3>So we need to pass some reforms. We ought to

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<v Speaker 3>be able to sit down like adults responsibly and get

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<v Speaker 3>something done and stop the name calling.

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<v Speaker 2>Joining us live from Exeter, New Hampshire, Democratic Senator Jean Shaheen,

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<v Speaker 2>it's great to have you back, Senator. Good luck to

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<v Speaker 2>your patriots this weekend.