On the recordJuly 6, 2016
I appreciate the gentleman's perspective, but I disagree. He is correct that, in fact, the funding for the SEC has risen in the last 8 years, but so has the dramatic amount of work that is required of it. Mr. Chair, I will close with just one important point, which is that we saw over the course of the last 2 weeks the dramatic market volatility that was introduced by Great Britain's decision to remove itself from the EU. There was not a stock market or an asset market anywhere on the globe that didn't suffer a significant jolt. These are moments of uncertainty--maybe even of chaos--in the capital markets. We have a fairly significant election coming up this November. We are not looking at a moment in which the capital markets are likely to experience smooth sailing off into the foreseeable future. We saw, in the last 2 weeks, precisely the volatility that warrants the need to have a cop on the beat to watch. This is not the moment to cut the SEC's funding. I would urge my colleagues in this Chamber to pass this amendment and to fully fund the cop that we need on this beat. Mr. Chair, I yield back the balance of my time.
