Political Quotes

“I want to associate myself with the comments of the esteemed Senator from Wyoming. I think he described very well the extremely positive impact that tax relief is having on our country, on economic growth, on job creation, and on higher wages and incomes for hard-working Americans. I rise today, however, to talk about the Economic Growth, Regulatory Relief, and Consumer Protection Act and the important reforms we are making to spur economic development, facilitate more lending, and reduce burdensome regulations on our community banks and credit unions. The Dodd-Frank Act was enacted in 2010 following the financial crisis in an attempt to reduce systemic risks the financial sector posed to the economy. This far-reaching law touched every aspect of the financial system, including many small community banks and credit unions around the country and in my home State of North Dakota and across this Nation, in North Carolina and in every State in the Union. These community banks and credit unions are not what pose the systemic risks that Dodd-Frank was passed to address. At almost 850 pages long, Dodd-Frank required more than 10 regulatory agencies to write almost 400 new rules, which added more than 27,000 new Federal restrictions on American businesses. Think about that regulatory burden--more than 27,000 new Federal restrictions on American businesses.…”