June 8, 2017
northeast Georgia and on behalf of her country. PUTTING PEOPLE BACK IN POWER
Mr. COLLINS of Georgia. Mr. Speaker, as I rise today, it is a good day on the floor of the House. It is a good day for those of us who have went before the voters on occasions and said that one of the issues that we have to take up in Washington, D.C., is removing the barriers to letting everyday people get up and be able to access the financial markets, to access their business opportunities, to follow their hopes, dreams, and ambitions. And on the floor of the House today, we will fulfill that. We will take up and pass the Financial CHOICE Act, which repeals DoddFrank, which takes the Consumer Financial Protection Bureau, which many of us believe is unconstitutional—how could a body of Congress actually empower an agency that we have no control over, no accountability to us, they do as they want to do and, yet, control so much of our economy? Today we take a step forward. We take a step forward to putting people back in power, to letting our community banks and our credit unions get back to doing what they do best, and that is treating their community and their people with respect, finding loans, opening up possibilities, having that next dream of someone who says, ‘‘I just want to take this opportunity,’’ and being able to fund it. You see, a lot has been said, and there are distractions everywhere, Mr. Speaker. We understand that many say nothing is getting done, but I look back and I say that the Republican majority is moving forward. We have a new Supreme Court Justice. We have passed 14 CRAs, rolling back almost $18 billion in compliance costs of regulations promulgated by the former administration. We have begun the process of doing what we said we are doing by replacing a failed healthcare system in which we have just found out in Ohio, Nebraska, Iowa, Georgia, that premiums have skyrocketed, where markets are no longer viable, where insurance is not there, and even if it is there, there are many places where they can buy it but not use it. That is health insurance, not healthcare. In fact, that is nothing for those who need it. You see, in Congress, we are moving forward. It is an agenda led by the administration, with the House and the Senate working together to say that we believe in the American people. We believe that the spirit of America is found in the individual hometowns, in the individual spirits that live there, not in a government that is controlled completely from Washington, D.C., where Washington says we know best. It is time we unleash the spirit again. Through this House, that process is starting today. The Financial CHOICE Act is a fulfillment of a promise, and there are many more to come.
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DODD-FRANK HINDERS ECONOMIC GROWTH The SPEAKER pro tempore. The Chair recognizes the gentleman from Pennsylvania (Mr. ROTHFUS) for 5 minutes. Mr. ROTHFUS. Mr. Speaker, for the past 8 years, we have been stuck in the slowest economic recovery in 70 years. With all the debate about the Financial CHOICE Act today, a simple question gets to the heart of the matter: Do we want to grow again? I contend, Mr. Speaker, the answer is—the answer has to be a resounding yes. It has to be yes because there is a moral imperative at play. The Financial CHOICE Act is about ending a stagnant status quo that is crushing our economy and opportunity. Multiple studies show that the DoddFrank Act has hindered economic growth. One study estimates that, because of the overregulation we have seen since the 2008 financial crisis, there are 650,000 fewer small businesses than there otherwise would be, which would have provided 6.5 million jobs. That is 6.5 million people not utilizing their God-given talents for the betterment of society. That is 6.5 million people not paying the Social Security, Medicare, and income taxes that we need to fund critical programs. Some just want to raise taxes on the already-burdened taxpayers. I say, let us get new taxpayers into the game. Having more taxpayers helps us to pay for programs for veterans, education, medical research to find cures for diseases like Alzheimer’s and cancer, taxpayers to help fund the national defense. A couple of weeks ago, I visited a senior center in my district and had some very special conversations. Folks told me about the days when there were lots of jobs in factory towns in western Pennsylvania, and one World War II veteran showed me his Bronze Star. These individuals are counting on us to allow an economy to grow that will create the taxpayers who can help pay for the critical programs that support them, that pay for their care. We have a moral obligation, Mr. Speaker, to restore healthy growth to this economy. Today, let us pass the Financial CHOICE Act. Let us move from overregulation to right-sized regulation. Let us unclog the flow of capital to small businesses. Let us unclog consumers’ access to credit. Let us lower the cost of financial services for everyday consumers. Let us bring an end to the anti-growth policies of the last 8 years and move into a much brighter, more prosperous future for everyone. f
RECESS The SPEAKER pro tempore. Pursuant to clause 12(a) of rule I, the Chair declares the House in recess until noon today.
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Accordingly (at 10 o’clock and 56 minutes a.m.), the House stood in recess. f
b 1200 AFTER RECESS The recess having expired, the House was called to order by the Speaker at noon. f
PRAYER The Chaplain, the Reverend Patrick J. Conroy, offered the following prayer: God of grace and goodness, thank You for giving us another day. We ask Your blessing of strength and perseverance that each Member might best serve their constituents and our entire Nation. May it be their purpose to see to the hopes of so many Americans, so as to authenticate the grandeur and glory of the ideals and principles of our democratic Republic with the work they do. Grant that the men and women of the people’s House find the courage and wisdom to work together to forge solutions to the many needs of our Nation and ease the anxieties of so many. May all that is done this day be for Your greater honor and glory. Amen. f
THE JOURNAL The SPEAKER. The Chair has examined the Journal of the last day’s proceedings and announces to the House his approval thereof. Pursuant to clause 1, rule I, the Journal stands approved. Mr. RODNEY DAVIS of Illinois. Mr. Speaker, pursuant to clause 1, rule I, I demand a vote on agreeing to the Speaker’s approval of the Journal. The SPEAKER. The question is on the Speaker’s approval of the Journal. The question was taken; and the Speaker announced that the ayes appeared to have it. Mr. RODNEY DAVIS of Illinois. Mr. Speaker, I object to the vote on the ground that a quorum is not present and make the point of order that a quorum is not present. The SPEAKER. Pursuant to clause 8, rule XX, further proceedings on this question will be postponed. The point of no quorum is considered withdrawn. f
PLEDGE OF ALLEGIANCE The SPEAKER. Will the gentleman from Arkansas (Mr. CRAWFORD) come forward and lead the House in the Pledge of Allegiance. Mr. CRAWFORD led the Pledge of Allegiance as follows: I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands, one nation under God, indivisible, with liberty and justice for all.
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