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.

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.

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

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

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

Mr. Chairman, 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…

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 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…

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…