Political Quotes

“Like in Michigan, like so many other places around the country, in 2008, we saw a massive economic downturn where people lost their jobs, lost their savings, and some even lost their homes. The Obama administration and their allies in Congress put forward a very flawed solution, which was called Dodd-Frank, which led to the slowest, weakest recovery in modern history. The American people were sold a bill of goods. Now what Congress is trying to do is get at the root cause. That is not what they had done before. They had denied hardworking families the economic recovery that they deserve. Economic growth stalled as access to basic financial services became less and less available to small businesses and lower income Americans. And America's small and medium- sized community financial institutions were saddled with a crushing regulatory burden. We are changing that in this bipartisan bill. Instead of ending too-big-to-fail, this regulatory monstrosity, called Dodd-Frank, enshrined too-small-to-succeed. On average, we are losing a community financial institution a day because of the extensive burdens placed on them by this one-size-fits-all regulatory structure. These crushing regulations have made it more difficult for consumers to access credit to buy a car, realize homeownership, save for retirement, plan for their kids to go to college, climb the ladder of opportunity, and grow their small businesses, which are critical to growing our economy.…”