Political Quotes

“Mr. Chairman, I thank the gentleman from Michigan for yielding me the time. Today I rise in support of H.R. 78, the SEC Regulatory Accountability Act. One can cut the hyperbole on the other side of the aisle with a knife today because we are not here talking about gutting enforcement. We are not here talking about exceptionally benefiting Wall Street operators. What we are talking about is enhancing the SEC's cost-benefit process. The Commission has made many positive strides toward its economic analysis in the past few years. This bill will enhance their efforts at ranking and providing resources to the rules that will in fact provide investor protection and provide efficient, competitive U.S. markets. Too many of their resources have been deviated on wild goose hunts related to the Dodd-Frank mandates. During this same time, we have experienced a sharp decline in initial public offerings and public companies generally. Largely, in my view, that is as a result of the regulatory burden and the costs associated with being a public company. This should be a concern to every Member of this body. This bill would make the SEC's rulemaking process more accountable by enhancing its cost-benefit analysis requirements and would require the Commission to revisit its rules after implementation to ensure they are actually achieving their intended purposes.…”