Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, first I would like to commend my friends, Mr. Duffy and Mr. Heck, for their work on this very important issue. For over 150 years, U.S. insurance companies of every kind--including property- casualty, life, reinsurance, health, and auto--have all been regulated primarily by the States. Congress and the States have occasionally reviewed the effectiveness of the State-based regulation of insurance and coordinated efforts that they have to achieve greater regulatory uniformity. In fact, in 1945, Congress passed the McCarran-Ferguson Act, which confirmed the States' regulatory authority over insurance except where a Federal law expressly provides otherwise. As a former State representative in the Michigan Legislature, I know firsthand that Michigan does a better job of protecting policyholders within their borders than the Federal Government can do. I have seen it in action. Even more, Michigan certainly knows how to maintain a robust insurance marketplace that works for Michigan consumers. I would assume the exact same thing in Wisconsin and in Washington and in California and all throughout the States. However, there are those who believe Washington knows best. In fact, title V of the Dodd-Frank Act enlarged the Federal Government's role in the insurance industry by creating a Federal office specifically tasked with insurance matters.…”