Political Quotes

“I thank Ms. Foxx, my colleague, for her kind introduction on that. All aspects of this bill, each part of it, has gone through the committee process. Multiple of them have had multiple hearings related to them. There has been plenty of opportunity to be able to allow for input and for votes through the traditional committee process on this. The reality is that red tape is strangling our businesses. Each day, they wake up, and they are worried about what the Federal Government is going to do to them rather than what the Federal Government is going to do for them. There is an appropriate role for the Federal Government for regulations, but it seems like there is a never-ending acceleration of regulations--and not just small--they get larger and larger and larger and more and more expensive and more and more nonsensical at times. Let me just give you one quick example of this: community bankers that are facing hundreds of new regulations. When the problem seemed to be the largest investment banks, the one who got hit the hardest with the regulations were the community banks. Now community banks have to step aside. A bank that may have 14 to 20 employees and $50 million or less in total assets, which is a very small rural bank, has to go and prove that these rules don't apply to them. That involves their hiring outside attorneys. That involves setting aside staff that should be doing loans.…”