House Passes Republican-Led, Bipartisan Financial Services Bills
Washington,
May 11, 2022 -
Today, the U.S. House of Representatives passed several pieces of bipartisan financial services legislation, including three bills introduced by Committee Republicans. Among the bipartisan bills passed are Republican-led initiatives to further isolate the Putin regime from the international financial system in response to Russia’s invasion of Ukraine and to make it easier for small businesses to grow through mergers and acquisitions.
The Republican-led financial services bills passed by the House include:
The Isolate Russian Government Officials Act, which will exclude Russian government officials from participation at proceedings of the G-20, Bank for International Settlements, and other international organizations. H.R. 6891 is sponsored by Rep. Ann Wagner (MO-02), the top Republican on the Subcommittee on Diversity and Inclusion.
Watch Congresswoman Wagner’s remarks in support of her bill here or by clicking the image above.
The Russia and Belarus SDR Exchange Prohibition Act, which will deprive Russia and Belarus of IMF assistance and emergency liquidity through the exchange of IMF Special Drawing Rights for hard currency. H.R. 6899 is sponsored by Rep. French Hill (AR-02), the top Republican on the Subcommittee on Housing, Community Development, and Insurance.
Watch Congressman Hill’s remarks in support of his bill here or by clicking the image above.
The Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act will help preserve small business jobs, promote the next generation of small business ownership, and reduce costs for small businesses by simplifying the securities registration requirements for mergers and acquisition brokers who help transfer the ownership of small, privately held companies. H.R. 935 is sponsored by Rep. Bill Huizenga (MI-02), the top Republican on the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets.
Watch Congressman Huizenga’s remarks in support of his bill here or by clicking the image above.
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