House GOP Members Seek To Dilute Financial Overhaul Law


Republicans in Congress are going after the financial overhaul bill.House Republicans have been working to water down President Barack Obama’s financial overhaul law through various bills.

According to The Associated Press, bills have been approved by committees headed by members of the GOP that would lessen the regulations regarding corporate salary reporting and would exempt certain investment advisers from registering with the Securities and Exchange Commission. In addition, another committee approved a bill that would cut $200 million from the $1.4 billion SEC budget requested by Obama.

Representative Jeb Hensarling (R-Texas), vice chairman of the House Financial Services Committee, called the financial overhaul law “a job creator’s nightmare.”

The law harms “the formation of capital, the cost of capital and access to capital, and you can’t have capitalism without capital,” the Congressman, who has been in the House since 2003, told the news source. “So Republicans in the House will be examining each and every one of the 2,000-plus pages” of the legislation, he told the news provider.

Democrats reportedly feel that they will be able to block any major changes to the law because they hold the Senate.

Personal Liberty

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.