On the recordJuly 22, 2010
Mr. Speaker, yesterday the President of the United States signed legislation into law that dramatically alters the way our financial sector works and makes it harder for our economy to recover. Instead of bringing much-needed reforms to modernize our financial system, this law grows government again. As The Wall Street Journal put it, ``What started as a promise to streamline and modernize the financial system turned into 2,300 pages of new agencies and new powers for the very authorities that fomented the financial crisis.'' According to a recent U.S. Chamber of Commerce study, Federal regulators will have to write 520 rules, issue 81 studies and 93 reports. I opposed this measure as it came before the House. Business owners and constituents across my district are frustrated because the policies coming from Washington create more bureaucracy and stifle job creation. It's time that Washington focuses on commonsense principles that put Americans back to work, reduce government expansion, and get our economy back on track. We must head back in the right direction for the future of this Nation. ____________________





