Main Street Capital Access Act

Floor Speech

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Ms. GARCIA of Texas. Mr. Speaker, I rise against H.R. 6955. Instead of the Main Street Act, this bill, Mr. Speaker, should be called the Wall Street wins Main Street loses act.

It does not help end the affordability crisis, feed hardworking Americans, or keep a roof over their heads. Instead, this bill sneaks in deregulatory measures, further weakens the Consumer Financial Protection Bureau, and weakens community reinvestment and anti- discrimination safeguards.

For this reason, at the appropriate time, I will offer a motion to recommit this bill back to committee.

If the House rules had permitted it, I would have offered the motion with an important amendment to this bill. My amendment would limit the provisions of this bill from applying to any globally systemically important bank holding companies. Simply put, it ensures that the bill's deregulatory provisions do not apply to megabanks.

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Ms. GARCIA of Texas. Mr. Speaker, I hope my colleagues will join me in voting for the motion to recommit. Let's send this back to Committee so that we can make sure that it truly works for our community banks and that it does not give Wall Street another big win.

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Ms. GARCIA of Texas. Mr. Speaker, I have a motion to recommit at the desk.

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Ms. GARCIA of Texas. Mr. Speaker, on that I demand the yeas and nays.

The yeas and nays were ordered.

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