Key Vote Alert – “YES” on The Financial CHOICE Act (HR 10)
KEY VOTE ALERT
“YES” on The Financial CHOICE Act (HR 10)
The Club for Growth urges all House members to support the The Financial CHOICE Act (HR 10). A vote is expected later this week. The vote will be included in the Club for Growth’s 2017 Congressional Scorecard.
Financial regulations created by the 2010 Dodd-Frank Act have strangled capital formation and lending, contributing to the anemic economic growth in our country over the last seven years. This bill would repeal and reform large parts of that disastrous bill, ending a lot of the overreaching regulations that extended far beyond Wall Street.
Some of the CHOICE Act’s pro-growth provisions include requiring congressional approval for all major financial regulations, similar to the broader REINS Act that the House passed with unanimous GOP support in January. It would also structurally reform the Consumer Financial Protection Bureau, stripping the agency of its much-too-broad authority. Likewise, the bill repeals the incentives for bad behavior by lessening the “too big to fail” policies that Dodd-Frank codified into law.
Deregulatory policies have been essential this year in jump-starting the economy and sparking a newfound level of confidence in the private sector. Passage of this bill will help encourage and continue that trend.
Our Congressional Scorecard for the 115th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.