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Huizenga Statement on One Year Anniversary of Dodd-Frank Act

Statement

Date: July 21, 2011
Location: Washington, DC
Issues: Finance and Banking

Today marks one year since Congress passed into law the Dodd-Frank Act, an unprecedented massive government takeover of private financial business.

Under Democrat control of Congress in 2010, this bill originated in the House Financial Services Committee, which freshman Rep. Bill Huizenga, MI-02, now sits on and which is working to repeal the law's more onerous provisions. Huizenga said of the law:

"Today is an anniversary no one is celebrating. Dodd-Frank is the embodiment of the business as usual in Washington that Americans are sick of: it grows the size and cost of government, adds 400 new layers of red tape, doesn't actually address the underlying financial problems, and piles uncertainty on job creators that as a small business owner myself, I know all adds up to stalled economic recovery and job growth. As the Financial Services Committee report concluded, Dodd-Frank was masqueraded as a consumer protection bill but ultimately it only stimulates government growth and hurts the American consumer the most."


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