Comprehensive Regulatory Review Act

Floor Speech

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Mr. GOTTHEIMER. Mr. Speaker, I first want to thank Congressman Loudermilk for working together on the Comprehensive Regulatory Review Act. Congressman Loudermilk has been a true partner who has been tireless in pursuing smart regulatory reform policies and in finding solutions for the people he serves. We both want to get something done for the people we represent.

I also want to thank Congresswoman Sinema for her help and support in leading this legislation.

I urge my colleagues on both sides of the aisle to support the bipartisan Comprehensive Regulatory Review Act.

America's economic engine has been under pressure for some time now from unnecessarily burdensome and outdated regulations building up on the books of our regulators. It costs us in economic growth. And while there are clear times where smart guardrails are necessary, there are others when it actually holds back smart growth for our country and for our families.

We need a smarter, more efficient government. It is time to relieve these unnecessary burdens and spur business job growth and access to credit in New Jersey's Fifth District and across the country while protecting consumers and our economy. This bipartisan regulatory relief bill does just that. It updates and expands regulators' mandatory review of financial institutions while protecting consumers. It also requires the review be performed every 7 years rather than every 10.

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