Congressman visits Hamilton to discuss small-business challenges

Feb. 23--HAMILTON -- Congressman Warren Davidson, R-Troy, came to a Greater Hamilton Chamber of Commerce Small Business Roundtable discussion geared toward small-business leaders and their concerns.

He tackled topics ranging from what can be done to protect the retirement accounts of consumers to the mounting challenges for small businesses to secure access to capital, as well as his vision in regard to The Dodd -- Frank Wall Street Reform and Consumer Protection Act and other regulations.

Davidson said the Financial Choice Act, which was passed by the House of Representatives last year, didn't fully undo Dodd-Frank.

"The spillover effects of Dodd-Frank and this one size fits all piece is small banks, which are a lot of times the easier source of small capital for small businesses, have been crowded out. There's been no community banks launched in our district in three years, zero entrants into a very good market because of the cost of regulation," Davidson said.

Davidson also touched upon the Republican mantra of "repeal and replace" President Obama's Affordable Care Act, saying the narratives portraying Republicans as uncaring when it comes to health care are false.

"The Affordable Care Act could have been a bipartisan bill, (but) Democrats chose not to do that," he said. "They went with zero Republican votes."

There were three things Republicans almost uniformly agreed needed reformed when it came to the ACA, but couldn't get Democrats to agree to a bipartisan bill, he said. Those three issues included coverage for pre-existing conditions, lifetime caps and coverage for taxpayers' children up to 26 years old.

"Republicans say cover your students," he said. "People that are either working -- if they're working they can buy insurance, if they're students then OK, we understand, you're not generating income, but if you're sleeping in the basement eating Hot Pockets and you're 26 years old, you need to go get a job."

Davidson assured roundtable participants that even if Congress voted Tuesday to repeal the Affordable Care Act, it would not mean an automatic loss in coverage.

"Let's say we did it," he said. "The fastest it could really go away is really Dec. 21, 2018, because insurers have to have time to underwrite a policy.

"If we get something done this year, as long as we get that defined, whatever that is (to replace the ACA) by fall, they can go into January next year ... and they can start writing those plans for Jan. 1, 2019, and beyond."

Jocelyn Bucaro, chair of the Butler County Democratic Party said the ACA isn't perfect but it's working and that should be acknowledged by Davidson as the first step to fixing it instead of threatening to repeal it and "throwing our health care system into chaos."

"The reason why Republicans are defensive about their position on the Affordable Care is because they know that they cannot offer anything better," Bucaro said. "The Affordable Care Act was a bipartisan bill. It was based on a Republican plan from Massachusetts that was signed into law by Republican Gov. Mitt Romney. He's basically misleading voters and implying that the ACA was a Democrat-only proposal.

"If Democrats had their way, there would have been a public option. There would have been a much more progressive approach to health care reform."

Glenn Clevenger, branch manager of the U.S. Small Business Administration, said Davidson's remarks on regulations and other issues were "spot on."

"He understood the problems and he will address it," Clevenger said.

Mardia Shands, of West Chester Twp., said she didn't find satisfactory Davidson's answer to questions about the Fiduciary Rule and how the rules in place to govern financial advisers were already working.

"If that were the case, that the rules were already working, there would be no need for additional regulation," she said. "That is like asking the fox to watch the henhouse, and that is not the case.

"I think consumers need protection when they go their financial advisers ... and financial advisers are held accountable for any advice they give consumers."

About two dozen protesters lined up outside the chamber's offices this morning before the event, expressing their support for the Affordable Care Act.

Davidson, instead of exiting to his vehicle via the back door, headed out the chamber's front door and toward the protesters to talk with some of them about their concerns.

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