I am grateful to Senators Menendez, Crapo, and Manchin for joining me in legislation that would allow funds to elect a status which would enable money market funds to use the amortized cost and penny rounding accounting, therefore…

We have operated since 1971 with the risk of a first mover advantage.

It is about respecting the judgments that have long been made about how to strike the right balance between helping these companies on the one hand and protecting investors on the other.

There is an alarming statistic that I would start with, which is that the total number of small businesses in America declined between 2009 and 2014.

Senators Toomey and Menendez have introduced legislation to restore the stable share price for institutional, nongovernment money market funds.

Money market funds are a critical source of short-term financing in our communities.

Thank you, Mr. Chairman.

Well, there is no question there are people who agree with that, but I would question whether there is data that actually supports the necessity.

I think it is clear that the American economy has been underperforming for a number of years now.

I think it is very constructive legislation. It would allow a modest increase in the leveraging that is available.

The possibility of putting Pennsylvania in play should be of interest to Donald Trump.

The drafters of Dodd-Frank immunized, I believe, the Bureau from any meaningful Congressional influence, leaving it free to engage in questionable practices and unreasonable expansions of its jurisdiction.

that conveys an intelligible direction to the marketplace so as to create deterrence that can be readily understood and implemented.

I have said many times that regulatory independence should never mean independence from accountability or vigorous Congressional oversight.

in the case in which you guys discovered discrimination on the basis of protected class being committed by people who were not aware of the protected class status of the people they were supposedly discriminating against, you are applying…

I think everybody would agree that basic fairness in law enforcement is that if person A or institution, bank A, say, is doing these things and they are found to violate the law, an action has to be taken in consequence.

I believe that future legal challenges will lead to the invalidation of many parts of Dodd-Frank.

It still strikes me as stunning that this Committee approved this massive piece of legislation without deposing a single market participant.

Mr. Chairman, thank you very much for convening this hearing and for cosponsoring the bill, the Stopping Medication Abuse and Protecting Seniors Act.

Senator Pat Toomey (R-PA) has introduced S. 1913, the Stopping Medication Abuse and Protecting Seniors Act.

CVS Health applauds your efforts to prevent prescription drug abuse by your work on S. 1913.

We are supporting the Stopping Medication Abuse and Protecting Seniors Act because it authorizes the use of PRRs in Medicare.

Your legislation would address this problem head on by stopping the epidemic where it starts--at the pharmacy counter.

Senators Toomey, Brown, Portman and Kaine have shown great leadership by introducing the Stopping Medication Abuse and Protecting Seniors Act of 2015.

We urge the Senate to appropriately respond to the epidemic of opioid addiction and overdose deaths by passing this legislation.