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  • Promoting Job Creation and Reducing Small Business Burdens Act

    by Representative Daniel T. Kildee

    Posted on 2015-01-07

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    KILDEE. I thank my friend for yielding.

    Mr. Speaker, here we are on the second day of the 114th Congress. It has not yet been 24 hours since Members of this Congress were sworn in. What we have before us is a package of 11 complex bills with significant implications for our financial system--and I want to make this very clear, as my friend pointed out--some of which have not gone through the process of scrutiny by the Financial Services Committee or the regular legislative process. Some of it has and some of it has not, but it has not been at all by this Congress. This is not an emergency. Unlike TRIA, which expired before we left, there is not a time- sensitive nature of this question.

    It is really important to me--and especially as now a second-term Member--to remember what it was like to show up here and to have things put in front of us that we had not really had a chance to fully and thoroughly vet.

    {time} 1330 The regular order--as was spoken about yesterday--it is critical for the minority to have access to the process, and it is only done through the regular legislative process.

    This legislation just continues to give and give and give to Wall Street.

    Despite the fact that my principal objection is with the lack of adherence to regular order and the process of legislating, substantively, there are problems with this legislation. Wall Street banks, whose banks and traders recklessly drove this country into a financial crisis, are being rewarded yet again, and I can't accept it. I can't support it.

    What is really interesting to me is that here we are, less than 24 hours since we have been in Congress, yet in the last Congress, when Main Street had its needs, when unemployed people couldn't get Federal unemployment benefits, we couldn't get a hearing; we couldn't get a vote on the floor of the House for legislation that was bipartisan, that had an equal number of Democrats and Republicans supporting it.

    When Wall Street asks, we suspend the rules in less than a day without taking a breath and move to fit their needs into our schedule. But when Main Street needs help, Congress didn't give an answer. This is not right.

    We have got to get back to regular order. We talk about it all the time. We hear it on both sides. This is not a good start for the 114th Congress, to suspend the rules and deal with new language that many of us have just seen this morning, to pass legislation that is a gift- wrapped present to Wall Street. I can't support it. I urge my colleagues to reject this legislation.

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