On the recordMay 13, 2010
This amendment is a very simple, straightforward one. It is one paragraph long. It is not complicated. What it essentially does is it sets a sunset date for the newly created bureau of consumer protection, allowing Congress to reevaluate the bureau after 4 years. I think most Americans, if they knew we were creating a big new bureaucracy here in Washington, DC, would want us to have some oversight. They would want some accountability. They would want to make sure their tax dollars are being spent wisely and well. This new consumer protection bureau will have lots of new Federal employees here in Washington, DC. It will spend hundreds of millions of dollars every single year. Yet Congress has literally no oversight or authority with regard to this new bureau.
