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Bipartisan Majority Passes Regulatory Relief Bill to Help Create Jobs On Wednesday the House passed H.R. 37, the Promoting Job Creation and Reducing Small Business Burdens Act, with a bipartisan vote of 271-154. The bill is a package of 11 targeted measures overwhelmingly supported by Republicans and Democrats in the 113th Congress which reduce regulatory burdens and make it easier for small businesses to access job-creating capital. “It is clear that smart regulations allow the private sector to innovate and create more jobs while protecting taxpayers and consumers. However, it is equally cle... Read More »

House's TRIA Reauthorization and Dodd-Frank Clarification Bill Headed to President's Desk The House once again overwhelmingly passed a long-term reauthorization of the Terrorism Risk Insurance Act (TRIA) with taxpayer protection reforms this week. The bill, sponsored by Rep. Randy Neugebauer (R-TX), included the reestablishment of NARAB and also a critically important clarification of Dodd-Frank to prevent further harm to jobs on Main Street. Chairman Jeb Hensarling (R-TX) said the bill “clarifies that Main Street businesses, farmers and ranchers – who had nothing to do with the 2008 financial... Read More »

This morning, Washington Democrats are feverishly trying to spin Harry Reid’s decision to prevent the Senate from taking a vote on the bipartisan House-passed bill to reauthorize the Terrorism Risk Insurance Act. From their seats on their flights home for the holidays, Democrats are trying their hardest to blame TRIA’s demise on the inclusion of a technical clarification of the Dodd-Frank law that, as a standalone measure, passed the House almost unanimously. That might be true if facts did not get in the way. Rep. Maxine Waters—the highest ranking Democratic Member on the Financial Services C... Read More »

Hensarling Announces Subcommittee Chairs and Welcomes Republican Members to the Financial Services Committee "I look forward to working alongside my colleagues to pass laws that help grow the economy from Main Street up, not Washington down,” said Chairman Hensarling. “Our committee will continue to focus on promoting sensible solutions that help create jobs and hold both Washington and Wall Street accountable to the American people." The subcommittee chairmen for the 114th Congress: Rep. Scott Garrett (R-NJ) will serve as Chairman of the Capital Markets and Government-Sponsored Enterprises Su... Read More »

Investigation Reveals Export-Import Bank Exaggerating Help for Small Business Reuters news agency investigation finds Ex-Im lists “companies owned by billionaires” and “Japanese and European conglomerates” as “small businesses” Ex-Im’s list of “small businesses” includes one that has 53,000 employees “The errors make it difficult to identify exactly how much Ex-Im support goes to big businesses such as Caterpillar and how much to small companies.” Hensarling: “The bulk of Ex-Im’s help indisputably goes to large corporations that can finance their own operations without putting it on the taxpay... Read More »

Full Committee Examines Terrorist Financing and the Islamic State The Financial Services Committee examined ongoing U.S. efforts to stop the Islamic State (ISIL) and other terror groups from obtaining and deploying financial resources at a hearing on Thursday. “Unlike al Qaeda and other terror groups with which we are familiar and rely mainly on private donations and state sponsorship to fund their activities, ISIL is almost entirely internally financed and apparently is sitting on assets of almost $2 billion," said Chairman Jeb Hensaring (R-TX). "Fighting the financial war against terror wil... Read More »

On Thursday at 10:00 a.m. the Full Committee will hold a hearing to examine terrorist financing and the Islamic State. Read More »

CLICK HERE TO WATCH HORROR! SHOCK! DEVASTATION! Top-down regulations from Washington make it harder to have a growing economy on Main Street that creates good jobs. Yet each year Washington churns out page after page of new regulations, rules and red tape in the Federal Register. It’s become a MONSTER terrorizing Main Street! See for yourself…IF YOU DARE! #HappyHalloween "It is time for all to take off partisan blinders and acknowledge the truth that Washington regulators aren’t always right and more red tape is not always the solution to every problem. It is time to hold Washington accountab... Read More »

Below are excerpts from the Wall Street Journal’s “Weekend Interview” with House Financial Services Committee Chairman Jeb Hensarling (R-TX). The entire interview can be found here. Hensarling on the Export-Import Bank Mr. Hensarling views the Ex-Im battle “somewhat as a precursor to the tax reform fight because there are so many vested corporate interests” served by the current tax code: “If we can’t get rid of this agency and the corporate welfare it represents, how will House Republicans ever muster the intestinal fortitude to be able to do fundamental tax reform?” He adds, with some politi... Read More »

The CFPB and the game show Jeopardy! seem to have an interesting connection (see here and here). Although this week’s Jeopardy! contestants couldn’t name the agency, the unaccountable CFPB is certainly making a name for itself in all the wrong ways. Here are five more answers that probably ended up on the cutting room floor in the Jeopardy! Studio: Read More »