On the recordNovember 9, 2023
I thank the gentleman for his consideration of the amendment. However, we have, in fact, held a hearing in the Financial Services Committee about this very issue and some of the costs that I am talking about. The $5 billion to $8 billion that this would cost our taxpayers to implement was a part of that discussion within the Financial Services Committee and came from testimony directly there. Again, these designations would cost consumers, American taxpayers, $5 billion to $8 billion per year, and I urge my colleagues to support this amendment that reins in our regulators, restores Congress' Article I powers, and saves our Main Street investors billions and billions of dollars. Mr. Chair, I reserve the balance of my time. {time} 0945
