Sean Duffy

The goal here, I think, I think you and the president, and we, in the House of Representatives, all share the same goal, and that is to make the economy grow more quickly.

That is right. So I am going to get to that.

In 2030, is Medicare solvent under your plan? Yes or no. The answer is no, is it not?

Do you care about fixing Medicare and saving it?

You cut a trillion dollars in reimbursements for Medicare.

So if you care about jobs, putting our private sector unions back to work, why, in this budget, if you care about infrastructure spending, if you care about jobs, why are you not supporting the Keystone Pipeline?

Per CBO, currently, it is 2023 for solvency of Medicare, right?

I am pleased to take part in this important hearing which examines the regulatory burdens facing our Nation's credit unions.

If we continue to cut off and squeeze these arteries, we are certainly not helping families and small businesses in central and northern Wisconsin.

It is not right that our credit unions are being forced to service regulators and not service our American families.

I think it is important, however, that we balance that traditional mission of FHA with securing American taxpayers from having to step in and bail out more housing programs.

This declining trend in the number of credit unions is very concerning.

And another $1.2 trillion in this new proposal, for a total of $2.8 trillion of new taxes. Mr. Chairman, we've seen this before. This is tax-and-spend liberalism at its finest. I think the American people understand what has happened in…

The burden isn't getting lighter. It is getting heavier.

I'm happy to hear my friends across the aisle talk about investing in our future and investing in our economy. But when they talk about that, I think we have to be clear that that's code for borrowing and spending more money. We should…

Many of us know that our small community banks or credit unions are the lifeblood of economic growth in our small communities across this great country.

Clearly, they face a lot of challenges in this hyper-regulatory environment.

I, too, hear constantly from my community banks what impact this potential rule will have on them.

I appreciate the gentleman for yielding. I want to shed a little light on what has been discussed on the floor tonight, Mr. Chairman. We are hearing a lot of conversation about Medicare. We have to be clear that, in ObamaCare, this was the…

Is it possible that FSOC will come out with its non-bank SIFI designations before the Fed submits its final rule and definition?

So when there is a conflict between what the directive of Congress was and then its interpretation by the Fed, FSOC will go forward with the interpretation of the Fed, as opposed to what Congress has specifically delineated in Dodd-Frank.

Per Dodd-Frank, a non-bank SIFI designation must meet the definition of 'predominantly engaged in a financial activity.'

Congress was very focused and very concerned about an expansion of this law to encompass companies that have nothing to do with the financial sector.

My concern is that the Fed's definition of 'predominantly engaged in financial activity' is going to cast potentially a far wider net.

I appreciate the gentleman for yielding. My good friends across the aisle talk about loopholes and tax reform. They might forget that over the last 2 years, this House and this party have put forward legislation that does away with the…