House Passes Barr's Commonsense Solution for Kentucky
Press Release
Today, the House of Representatives passed Congressman Andy Barr's bipartisan, commonsense fix to a real-world problem voiced by community banks and employers in Kentucky.
H.R. 4167, the Restoring Proven Financing for American Employers Act, included significant bipartisan input from Democratic members of the House Committee on Financial Services, passing out of the Committee in March by a vote of 53-3, and passing the full House today by a bipartisan voice vote.
"H.R. 4167, the Restoring Proven Financing for American Employers Act, is a bipartisan clarification that fixes a regulatory problem impacting jobs that support families in Kentucky and across the United States," said Congressman Barr. "I am glad that the House has come together to advance this commonsense solution that would ensure American employers are able to obtain affordable financing to expand their businesses and create much-needed jobs for Kentuckians.
"I was pleased to work with Congressman Barr to achieve a finished product that won the support of Democrats and Republicans," said Congresswoman Carolyn B. Maloney (D-NY). "This legislation will provide a necessary clarification of the Volcker Rule while maintaining the original legislative intent."
Barr continued, "I appreciate Congresswoman Carolyn Maloney's support and work in developing this commonsense legislation. Her input was instrumental to gaining strong bipartisan support."
During the floor debate of H.R. 4167, Congressman Patrick Murphy (D-FL) spoke in support of H.R. 4167, thanking "the gentleman from Kentucky, Mr. Barr, who also is a member of the United Solutions Caucus, dedicated to real problem solving and saving the partisanship for another day. He worked hard on this bill and was willing to reach across the aisle for commonsense compromise. As a result of hard work, this jobs bill is on the suspension calendar and has earned a strong bipartisan vote. I urge my colleagues to support this legislation."
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