Pat Toomey
The Public Record
Patrick Toomey is a former United States Senator from Pennsylvania, serving from 2011 to 2022. A member of the Republican Party, Toomey was known for his focus on fiscal conservatism, economic growth, and limited government. During his tenure, he served on several Senate committees, including the Banking, Housing, and Urban Affairs Committee, where he was involved in financial regulation and economic policy discussions.
I think it is clear that the American economy has been underperforming for a number of years now.
Senators Toomey and Menendez have introduced legislation to restore the stable share price for institutional, nongovernment money market funds.
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…
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.
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.
Money market funds are a critical source of short-term financing in our communities.
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.
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.
It still strikes me as stunning that this Committee approved this massive piece of legislation without deposing a single market participant.





