Mike Flood: “I support Mr. Huizenga's bill, H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act, and I thank him and…”

“I support Mr. Huizenga's bill, H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act, and I thank him and Chairman McHenry for their leadership on this issue. In particular, I highlight my bill within this larger package. It is called the Stop Executive Capture of Banking Regulators Act. This bill applies a requirement to the Federal Reserve, the OCC, the FDIC, the NCUA, and the FHFA to report to Congress when they plan to implement a nonbinding recommendation from an executive order, or FSOC. All the regulators I just listed are independent. Independent regulators are supposed to act according to their respective expertise. They shouldn't just adopt recommendations from the President or Treasury without their own due diligence. This bill says that if they do choose to implement a nonbinding directive from the executive branch, they should tell Congress and the American people what they are planning to do and why. That is a commonsense requirement, and, frankly, this shouldn't be a partisan issue.”