WASHINGTON, D.C. – U.S. Congressman Pete Sessions (R-TX), Chairman of the House Committee on Rules, released the following statement applauding the passage of a critical passage to roll back regulatory burdens on community financial institutions:
“Under the Obama Administration, unelected bureaucrats burdened American job creators with thousands of pages of regulations and millions of dollars in regulatory costs. One of the most egregious examples of these big government solutions is Dodd Frank. This law strangled economic growth with mounds of red tape causing thousands of community banks to shut their doors. It is clear that the Obama-era’s one size fits all solutions don’t work for our economy, don’t work for businesses, and don’t work for the American people.
“Today’s package unhinges years of regulatory shackles and provides immediate relief to communities and small businesses. As a result of our pro-growth agenda, our economy is thriving, more than 6 million jobs are available, and American businesses and consumers have an all-time high confidence. I proudly voted for this essential piece of legislation to build upon this economic success and create more opportunities job creators and American families.”
To learn more about S. 2155, Economic Growth, Regulatory Relief, and Consumer Protection Act, click here.