Today, Capital Markets Chairman Bill Huizenga (MI-02) released the following statement after the House passed House Joint Resolution 41, Rep Huizenga's legislation to reform a burdensome provision of Dodd-Frank and require the Securities and Exchange Commission (SEC) to rethink their approach to rulemaking:
"Last night's vote helps reset the regulatory process," said Capital Markets Subcommittee Chairman Bill Huizenga. "For too long, regulators have saddled U.S. companies with burdensome regulations putting them at a competitive disadvantage on the global stage. By sending the SEC back to the drawing board, Congress is demonstrating that it is serious about strengthening the economy, boosting private sector job creation, and helping American workers."
During the debate on H.J. Res. 41, Congressman Huizenga explained the core mission of the SEC and refuted false claims made about his legislation. To watch Rep Huizenga's speech, click play on the video below.
Many West Michigan families have already begun, or are about to begin their holiday weekend. As you climb into your car and get on the road, remember to travel safely. Enjoy the weekend with your family, friends, and loved-ones, but please keep in your hearts the men and women who made the ultimate sacrifice in defense of freedom as well as the veterans and families who carry their memory.
Update on the Great Lakes & President Trump's Budget. An important fact to remember in this discussion is that Congress, not the President, determines what programs are funded. I believe the Great Lakes are a national priority. In fact, Congress just supported fully funding the Great Lakes Restoration Initiative for the remainder of the current fiscal year. By reaching across the aisle, I have worked in a bipartisan manner to reject cuts put forward by President Obama and President Trump to the GLRI. The health and vitality of the Great Lakes are instrumental to having sustained economic growth in Michigan and across the entire Great Lakes region. I remain committed to working with both Republicans and Democrats to prioritize, strengthen, and defend the Great Lakes.
This afternoon, the CBO's projection confirmed that the American Health Care Act will lower premiums and reduce the federal deficit. Yesterday, the Department of Health and Human Services released a study detailing how premiums for Michigan residents on the individual market have increased by 90% over the last four years alone. ObamaCare is collapsing and isn’t sustainable. We need to restore the ability for hardworking Michiganders to choose the health care plan that best meets their needs. The AHCA is a positive step in helping to achieve that objective.
My heart goes out to the families impacted by the heinous attack in Manchester. We must stand united with our allies across the Atlantic and around the globe to combat terrorism. Those who target and seek to harm innocent children are enemies of peace and freedom who must be held accountable for their actions.
The Congressional Review Act has allowed Congress to eliminate 14 burdensome regulations the Obama Administration finalized in its waning days - including my bill to eliminate a job-destroying provision of Dodd-Frank. We need to enact commonsense reforms that rein in "regulation nation" and allow our economy to grow.