Barry Loudermilk: “I thank the chairman for yielding me time to speak in support of the Home Mortgage Disclosure Adjustment Act sponsored…”

“I thank the chairman for yielding me time to speak in support of the Home Mortgage Disclosure Adjustment Act sponsored by my good friend and colleague, Mr. Emmer. As I sit and I listen to the debates that we are having in here and I think of what people back home must be thinking, it is hard, quite often, for us here to actually see what it is like, the boots on the ground back home. So I tend to go back home, and I talk to the source. What is it that we do up here that can hurt you or help you in your business and your life? Recently, I had a gathering of small-business owners, executives from larger businesses from across my district, and I posed a question to them: If we could only do one thing to help your business, what would that be? Would you rather us lower taxes or reduce regulation? Without exception, every person in that room said: Reduce regulation on my business. That surprised me. So I asked them why. They said: Because, by lowering our taxes, you can help our bottom line, but it is the regulation that hurts our ability to actually meet the needs of our customer. Now, when I talk to the small banks who predominantly loan to the small guy, the small-business guy, they say: It is things such as this that actually get in the way of my helping the customer. So it is not about inconvenience to the business.…”