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dodd-frank

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  10. '15

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Occurrences in the Congressional Record

Entry Title Date
Unfunded Mandates Information And Transparency Act Of 2015 February 4, 2015
Dan Kildee, D-MI
"I want to echo the comments of Ranking Member Waters. As a member of the Committee on Financial Services, I am particularly concerned with the direction that this bill takes us at a time when, on one hand, many of my colleagues have criticized the agencies charged with implementation of important regulatory reforms, such as Dodd-Frank, charging those agencies with not bringing forth rules in a timely fashion, and then at the same time reducing, through the budget process, the necessary resources to provide those agencies with the tools that they need to move forward on the rulemaking process, and now this, yet another, I think, effort to create another cumbersome step in the process of developing rules intended to implement legislation that was passed here by the United States Congress, law that is on the books."
Income Inequality January 29, 2015
Bernard Sanders, I-VT
"As we know, Republicans recently have pushed through language to take away some of the protections that taxpayers had in Dodd-Frank and once again leave them exposed to bailing out Wall Street when they engage in dangerous derivative speculation."
Promoting Job Creation And Reducing Small Business Burdens Act (H.R. 37) January 27, 2015
Betty McCollum, D-MN
"Mr. Speaker, I rise in opposition to the Promoting Job Creation and Reducing Small Business Burdens Act. This bill undermines vital consumer protections and regulations afforded by Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203). On January 7, 2015, the House voted on this new bill under suspension of the rules where it failed. I did not support this recrafted bill and I do not support it now."
Additional Statements January 21, 2015
Bernard Sanders, I-VT
"America has undoubtedly grown in the past year, but the many problems plaguing our nation continue to persist. The United States economy is stronger. We added 300 thousand jobs in November, the best in nearly three years. The unemployment rate is at 5.8%, a post-recession low point. President Obama struck a climate change deal with China—the two countries with the largest energy consumptions agreed to curb their carbon emissions by 2030. The war on terror in Afghanistan officially ended. Relations with Cuba have been reopened, which will make educational travel to Cuba easier and is a new approach to dealing with the oppressive regime that is currently leading Cuba. All of these are steps America has taken in the past year in the right direction. However, we still face many challenges. The US has a growing income gap—the rich are getting richer while the poor are getting poorer. This is highlighted in the spending bill passed in December to prevent the government shutdown. In it there were several provisions to cut welfare spending, such as Medicare and spending on the Women and Children support while there was another provision essentially written by the banks to reverse the Dodd Frank act. That act was written after the recession, but now things will go back to the way they were. Lobbyists for banks and for the wealthy have louder voices in Washington. Over 50% of Congress people are millionaires, while millionaires make up only 5% of the US population. This helps explain why income inequality is only getting worse, and is something that the American people must change. It is harder for students to afford college. Student loans are not of importance in Washington, which is something that needs to be changed. More people are afraid of the debt they will be in after getting their degree, and would rather start working out of high school. This is not the path we should be going on, and it is time for Congress to start listening to the students and prioritizing education. The media have recently brought the nation’s attention to police brutality, racial discrimination, and our broken criminal justice system. President Obama allocated $263 million for police body cameras and training, which is an acknowledgement of the need for reform but does not solve the root problem. Although there was footage available for the strangling of Eric Garner, the officer had no charges filed against him. These injustices seem to be occurring only more frequently, and Congress should focus its attention on real solutions that will lead to demilitarization of the police and a stop to the criminal justice system disproportionately affecting minority groups. We are still moving forward as a nation, but in 2015 we must work to reverse trends such as the growing income gap, increased police brutality, and losing sight of our priorities. There is still hope for a brighter future if we remember what values America really stands for."
Promoting Job Creation And Reducing Small Business Burdens Act January 16, 2015
Chris Van Hollen, D-MD
"Mr. Speaker, this unwieldy legislation is comprised of eleven, mostly unrelated titles—a few of which I have supported in the past, some of which I probably could support on a freestanding basis in the future and several of which either need a lot more work or simply should not be supported. In particular, as an advocate of the Dodd-Frank Wall Street Reform Act, I think we should tread very carefully before modifying or weakening something as central to financial reform as the Volcker Rule, which Title VIII of this legislation would do with respect to collateralized debt obligations. Additionally, while I am strongly in favor of giving employees more ownership opportunities in the companies they work for, I also believe those employees deserve to know the value of the stock they are being offered, and that is something Title XI of this bill fails to do."

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