Mar 07 2018

VIDEO: Blunt: Bipartisan Regulatory Reform Bill Benefits Missouri Families & Small Businesses

WASHINGTON – Today, U.S. Senator Roy Blunt (Mo.) spoke on the Senate floor to urge his Senate colleagues to support the Economic Growth, Regulatory Relief and Consumer Protection Act, which Blunt cosponsored. The legislation would strengthen consumer protections and rein in excessive Dodd-Frank regulations, making it easier for local businesses to grow and thrive.

The bill also includes Blunt’s bipartisan Family Self-Sufficiency Act, which would help low-income families gain the skills and education they need to achieve financial independence.

Following are excerpts from Blunt’s remarks:

“[I]t's exactly how the Congress is supposed to work and how the Senate is supposed to work. A bipartisan bill, a bill that, frankly, I'm sure that everybody that will vote for this bill, would have changed at least one thing in it, but if you change all of those things that all of us would have changed, suddenly you wouldn't have a bill that could pass, a bill that would do what this bill does, a bill that will roll-back the Dodd-Frank regulations, one more attempt by the federal government to make one-size-fits-all. And if you ever tried on any one-size-fits-all things, you know that one size almost never fits anybody, and that's been the case that we've seen now. …

“The more time, the more money, the more staff that community lenders have to dedicate to complying with needless regulations, the less ability they have to provide the kind of service that you'd like to provide. The president of the Missouri Bankers Association, Max Cook, said this ‘commonsense legislation,’ talking about the bill that I'm pleased to be a cosponsor of, ‘this commonsense legislation will allow banks to better serve the needs of customers and businesses in our communities.’ He went on to say that ‘financial regulatory reform will unleash America's economic potential.’ …

“This bill contains a number of bipartisan priorities. One of the priorities in here is a bill that I sponsored, the Family Self-Sufficiency Act. ... What this addition to the bill would do, and is in the bill to start with now, it expands the ability of people … to improve their education, to save money for the future, to reach their goal of becoming more financially independent. …

“The first thing the legislation does is streamline two public housing family self-sufficiency programs into one. There is no reason to have two family self-sufficiency programs, no reason to have two definitions, no reason to have one category of people in those programs who qualify for things and a second category who don't just because they happen to qualify under the definitions of a needlessly duplicative program. It eliminates that. This bill expands the scope of support services. It allows people that are in these programs to attain a G.E.D. if they don't have one, to pursue a postsecondary degree or a postsecondary certification, and gives training for financial literacy. Lastly, this bill would expand the reach of the Family Self-Sufficiency Act to programs that, to families that may otherwise be technically excluded from these programs today. …

“Some of the statements from housing organizations in my state and around the country, a group called Beyond Housing, who is interested in just more than a place to live, but how you use that as a way to improve your life, Beyond Housing in St. Louis, which provides more than 400 affordable housing rental units for families throughout the St. Louis region, endorsed the bill because they said ‘it would empower families across the country to achieve self-sufficiency.’ The Missouri chapter of the National Association of Housing and Redevelopment Officials supports the change this bill has because they say, ‘it provides the toolbox the residents can use to better life for themselves as individuals and as a family.’ The National Neighborhood Works Association says ‘the legislation would improve the existing self-sufficiency program to help more individuals and families achieve more in life for themselves and for their family.’

CLICK HERE To Watch Senator Blunt’s Full Remarks