Robert Pittenger: “Thank you for your leadership on behalf of the American people to bring opportunity to them. Mr. Speaker, I rise today…”

“Thank you for your leadership on behalf of the American people to bring opportunity to them. Mr. Speaker, I rise today on the fifth anniversary of the burdensome and overreaching Dodd-Frank Act. As I have built two businesses from scratch, I understand the risks and sacrifice and the hard work necessary to grow a business and create jobs. Unfortunately, Dodd-Frank has made it incredibly difficult for American small businesses to raise capital, and for the first time in 35 years, small business deaths have outnumbered small business births. Dodd-Frank was supposed to protect the American people. Instead, it is hurting the economy and it is costing jobs, particularly low- and moderate-income families. Dodd-Frank is strangling the economy and job growth by creating a compliance nightmare of over 400 new rules and regulations. I am not antiregulation, but the pendulum has swung too far. Unfortunately, Dodd-Frank goes overboard, fixing problems that don't exist and ignoring the root cause of the financial crisis, which was the government requirement for easy credit for those who were a credit risk. We have all been told that Dodd-Frank ends too big to fail. This act did not end too big to fail. It glorified it into law and made middle- income paychecks almost $12,000 less compared to the average postwar economic recovery.…”