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Emmer Passes FSOC Reform Act Out Of Committee

Statement

By: Tom Emmer
By: Tom Emmer
Date: Nov. 4, 2015
Location: Washington, DC
Issues: Business and Consumers

Today, the Financial Stability Oversight Council Reform Act, authored by Congressman Tom Emmer (MN-06), passed out of the House Financial Services Committee. Congressman Emmer has served on the committee for less than six months after filling a vacancy earlier this year.

"Today was a win for American consumers," Emmer said. "Now that we have moved this legislation through the Financial Services Committee, we are one step closer to returning the power of the purse back to Congress where it belongs."

"If made law, the Financial Stability Oversight Council and the Office of Financial Research will no longer be able to determine their own budgets, instead the American people will have a say through their elected representatives and the congressional appropriations process," said Emmer. "I believe in government transparency and the constitutional role of checks and balances, and this bill helps restore these critical principles."


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