Political Quotes

“I thank Congresswoman Moore and Chairman Hensarling for their bipartisan support of this bill. I also thank Congressman Robert Hurt for being the lead Republican sponsor of this bipartisan legislation. Mr. Speaker, I rise today in support of our bill, H.R. 3032, the Securities and Exchange Commission Reporting Modernization Act. Our regulatory system is inefficient, complicated and confusing, which is why it is so important that outdated regulations are reviewed with the goal of modifying them or repealing them to reduce waste and to make them work for everyday Americans. That is why I have introduced this bipartisan legislation with Congressman Hurt, to repeal an unnecessary and outdated reporting requirement in the United States Securities and Exchange Commission. Since 1995, the SEC has been the only Federal agency required to compile this obscure annual report. It is a waste of taxpayer dollars, and it is a paperwork burden that diverts time and resources from protecting investors. Modernizing the SEC's reporting requirements will allow the Commission to better focus on its mission of protecting investors; maintaining fair, orderly, and efficient markets; and facilitating capital formation. I am committed to working with my colleagues on both sides of the aisle to ensure that our financial markets work for everyone, and I hope that Members will join me in support of this bipartisan legislation.”