Tom Cotton

I want to turn now to legislation I have introduced with Senator Jones, the Small Business Audit Correction Act.

The cyber threat is nearly unique among all threats that our companies and investors face.

This requirement is devastating for small investment firms . . . These firms are closing at an alarming rate, in part due to skyrocketing audit costs required by a rule that is illogical for firms that don't hold customer assets.

I do hope this Committee can mark up our legislation and then move it to the floor for a vote.

In hindsight, I think it is clear that Congress overshot the mark trying to prevent another Bernie Madoff-style scandal.

What message does overwhelming Democratic opposition to your nomination send?

What message would we be sending if we didn't confirm you to the CIA to the men and women of the CIA?

Do you believe, acting under the legal approval of the Attorney General, that you or any other CIA officer should have gone to jail?

These programs were, to the best of your understanding, approved by the Commander in Chief, legally approved by the Attorney General, and supported by the Director of the CIA?

It is also important to ensure that U.S. sovereignty prevails in the regulation of our financial institutions.

I suspect the Trump administration would have a slightly different approach to this matter.

Can I get your commitment to take a review of it and to ensure that it does not create an unequal playing field between smaller broker-dealers and larger bank-affiliated firms?

I would say that certainly as a general principle, a level playing field is important.

Thus, broker-dealers can use their banking arm to evade the requirement, which can create an unfair and uneven playing field.

There is no question that the ability to surveil and strike any target on earth is vital to our national security.

How does it feel to lead an unconstitutional agency?

I hope the House passes it and the President can sign it into law in short order, so when vulnerable consumers are targeted by these scam loans, they will at least know the true terms that they are facing for the loans.

FHA can no longer tolerate putting taxpayers at risk by allowing obligations like these to be placed ahead of the mortgage itself ahead of default.

I believe this threat is grave.

I think there's a good chance we'll pass that into law this year.

I think that's something we should entertain as well.

I think we should take a serious second look at extending the New START Treaty.

Do you think it makes sense in this set of circumstances to extend the New START Treaty if Russia remains in violation of almost every other international agreement that they have made?

I think it's a strategic approach. I think that they are limiting their strategic nuclear weapons while they circumvent this by building up their non-strategic nuclear weapons that are not limited by the treaty.

I think they scorn their international commitments, and they're bent on upsetting the status quo.