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Public Statements

Providing for Consideration of H.R. 992, Swaps Regulatory Improvement Act and Providing for Consideration of H.R. 2374, Retail Investor Protection Act

Floor Speech

By:
Date:
Location: Washington, DC

BREAK IN TRANSCRIPT

Mr. COLLINS of Georgia. Mr. Speaker, as I come here today, one of the things that I have been listening to--and my friend from across the aisle, from Colorado, we talk about things and substantive issues.

I have been in three committee hearings this morning, and a lot of it was going across the aisle, working on issues that work.

One of the things that just concerned me as I was listening to this as well is that the Republican majority is working toward finding solutions for bad bills. Now that doesn't mean that everything is delay, as it was just explained. But when you find something that is wrong, from where I am at, you fix it.

Mr. POLIS. Will the gentleman yield for a moment?

Mr. COLLINS of Georgia. I will yield at the end.

I rise in support of the rule and the underlying bills, especially H.R. 2374. You know, I rise because we must continue to look at this regulatory beast. It is strangling, really, what I feel American business and families are struggling with, the very same issues that really are across the aisle.

I have Democrat friends. I have Republican friends. The bottom line, when it comes to business, is that business has always been about making a profit, money. The gentleman understands that. The gentlemen and ladies on this side understand this.

We have got to get into a position in which the Federal Government is out of the way, except in the areas where it needs to be, so that businesses can flourish and businesses can thrive. I believe this is what we are looking at today.

The Federal agencies too often move forward with new and burdensome regulatory mandates without proving they are needed to correct harm in the marketplace. I call it, in some ways, a job protection.

They want to do good. I am not implying that the government employees are not hardworking, strong individuals. But many times, they are looking at their own job, and they are saying, What do I need to do to make sure that we are ``doing something?''--at the expense, many times, of the ones that are having to live with what they are doing.

So as I look into this today, I want to thank the gentlewoman from Missouri for putting forward legislation to ensure that families in my district and across the Nation are not harmed as they strive to pay for their kids' college or invest for the future.

Our Republican majority is working on bills like this that remove these kinds of issues. The SEC must explore all other options before moving to a fiduciary standard for brokers and dealers. Anything less is a disservice, really, to the individuals the SEC is supposed to protect.

But before I go, one of the things that I have advocated for in my short time here is that Congress has to take back its article I authority. We have got to get into our oversight. Passing bills and leaving it to a nameless, faceless executive agency is not what we need to be doing. When need be, Congress needs to be doing things like this, where we come in and say, No, let's take a break. Let's slow down. Is this really what the law intended? Is this really what the law meant? Is this what we are supposed to be doing?

Congress has a constitutional role. We have got to take that back. I think what we are doing here today--and I think having exchanges across the aisle, whether it be today or tomorrow or next week, when I will be back home actually working and talking to people and preparing for what really right now is crushing in our area, the implementation of the health care legislation is what we are getting--these are the kinds of things that we need to be talking about. When we do that, then we have real dialogue. We have real solutions. But Congress has got to take back its article I authority. We have let it go for years.

This is a small part. Even what my friend from Colorado is talking about, these are issues that need to be debated. We are debating.

The Judiciary Committee, on which I sit, has taken up several of these kinds of issues, and we did it this morning under patents and all kinds of things. This is what matters to the American people. They want to see us work. They want to see us be a part of it and not just simply here talking to the cameras and talking to each other. We have really got to be out listening and working our committees and doing things back home so that they understand that as well.

So when I look at this, I look at this as something powerful to move forward on. I look at it as something that is a good rule. It is a good underlying bill.
The SPEAKER pro tempore. The time of the gentleman has expired.

Mr. SESSIONS. I yield the gentleman an additional 1 minute.

Mr. COLLINS of Georgia. I appreciate the chairman yielding.

This Republican majority was working in a bipartisan manner, giving us the ability to work like this. These are bipartisan pieces that we understand.

So I did promise, and I am good to my word. I yield to the gentleman from Colorado.

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