Political Quotes

“Mr. Chairman, I rise today to support my amendment to H.R. 3326, the World Bank Accountability Act. I also want to thank the chairman of the full committee and Andy Barr, who is the subcommittee chairman, for introducing this legislation and working with me on this amendment. The purpose of the underlying bill is simple: to ensure that the World Bank is effective in supporting projects abroad that work and actually reduce poverty. One aspect of the bill requires that the U.S. may withhold part of its funding from the World Bank unless the Treasury Department reports that the World Bank is emphasizing proven antipoverty solutions such as secure property rights, due process under the law, and economic freedom. My amendment would make a small and positive change to the bill which clarifies that the World Bank should also focus on reducing government barriers to entrepreneurship in addition to the other requirements. {time} 1600 This simple modification is important for a couple of reasons: First, multiple studies have found that entrepreneurship is an essential part of reducing poverty abroad because it gives people the ability to use their skills and God-given talents to foster innovation and create jobs in their individual communities. Foreign governments often create barriers to entrepreneurship through excessive fees, burdensome licensing requirements, and lengthy permitting processes.…”