On the recordMay 10, 2012
I thank the gentleman from Texas for yielding. Mr. Speaker, the Financial Services Committee has responsibly contributed, roughly, $35 billion in deficit reduction measures to this bill, and I am happy that one of these measures that I sponsored--a repeal of the Office of Financial Research--was adopted by voice vote in our committee. This agency, which was created by the Dodd-Frank, is a threat to the privacy of every American citizen, and it has no place in a system of checks and balances such as ours. Repealing the OFR will save $270 million over 10 years, and Americans will be better off for it.
