[Congressional Record (Bound Edition), Volume 158 (2012), Part 9]
[House]
[Page 11771]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               DODD-FRANK

  (Ms. JENKINS asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Ms. JENKINS. Mr. Speaker, despite my strenuous objections, 2 years 
ago this week Congress passed the Dodd-Frank Act. Two years have 
passed, and only one-third of nearly 400 rules are written today, and 
we have already added nearly 9,000 pages of new regulations and $7 
billion in compliance costs.
  By trying to solve a poorly understood financial crisis, Washington 
created a regulatory nightmare. New agencies like the Consumer 
Financial Protection Bureau have slowed the credit lifeline that is 
vital to the creation and survival of American small businesses.
  By impeding borrowing, experts predict Dodd-Frank will reduce annual 
job creation by 4.3 percent, hindering economic growth. Instead of 
using crises as excuses to expand our already overreaching government, 
we should target regulation at the root of the problem and work to 
protect both consumers and our innovating entrepreneurs.

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