Subcommittee Passes Rep. Graves’ Financial Reform Bill
The
The bill totals
The legislation targets resources to programs that will help boost economic growth and opportunity, protect consumers and investors, promote an efficient federal court system, and stop financial crime.
"This is a product of an open and inclusive process," said Chairman Graves. "My subcommittee communicated extensively with members about their requests and worked around the clock to put together a very conservative bill that aligns closely with
"This bill also advances many other conservative priorities by cutting spending, zeroing out programs and maintaining pro-life policies," continued
"Our financial system thrives on stability, and this bill provides the funding necessary for federal regulators to do their jobs in a timely and appropriate manner, while stopping burdensome regulations before they can damage our economy irreparably," House Appropriations Chairman
Click HERE to read the bill (https://appropriations.house.gov/uploadedfiles/bills-115hr-sc-ap-fy2018-fservices-financialservicesandgeneralgovernment.pdf).
Bill Highlights:
This holds the agency's budget to below the 2008 level; however, it provides increased funds to Operations Support to strengthen cybersecurity and
In addition, the bill addresses underperformance and previous poor management at the
* A prohibition on a proposed regulation related to political activities and the tax-exempt status of 501(c)(4) organizations. The proposed regulation could jeopardize the tax-exempt status of many nonprofit organizations and inhibit citizens from exercising their right to freedom of speech;
* A prohibition on funds for bonuses or to rehire former employees unless employee conduct and tax compliance is given consideration;
* A prohibition on funds for the
* A prohibition on funds for the
* A prohibition on funds for the production of inappropriate videos and conferences;
* A new prohibition on funds to implement new
* A new prohibition on funds to determine church exemptions unless the
* A requirement for extensive reporting on
Financial Reform - The bill includes a number of provisions within Title IX which are based on language included in H.R. 10, the Financial CHOICE Act, which passed the House on
Additionally, the bill brings the
Moreover, the bill ends
Judiciary - Included in the bill is
It also includes
The bill includes
In addition, the legislation contains policy provisions and reporting requirements to improve transparency, accountability, and fairness and stop overly burdensome regulation. For example, the bill:
* Requires the OMB to report to
* Prohibits the agency from requiring the disclosure of political contributions in
Executive Office of the President (EOP) - The legislation contains
ObamaCare - The bill includes provisions to stop the
Other Legislative Provisions - The legislation contains several policy provisions, including:
* A prohibition against the use of funds for abortion in the Federal Employee Health Benefits program;
* A prohibition on funding to require that entities applying for or conducting work under federal contracts disclose campaign contributions;
* A prohibition related to the
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