Bachmann Introduces Her First Bill of the 112th Congress

Statement

Upon being sworn in for her third term in the House of Representatives, Congresswoman Michele Bachmann (MN-06) introduced new legislation, H.R. 87, to repeal the Dodd-Frank financial reform bill, one of the most far-reaching legislative items of the previous Congress. Congresswoman Bachmann released the following statement about the repeal legislation:

"I'm pleased to offer a full repeal of the job-killing Dodd-Frank financial regulatory bill. Dodd-Frank grossly expanded the federal government beyond its jurisdictional boundaries. It gave Washington bureaucrats the power to interpret and enforce the legislation with little oversight.

"Dodd-Frank also failed to address the taxpayer-funded liabilities of Fannie Mae and Freddie Mac. Real financial regulatory reform must deal with these lenders who were a leading cause of our economic recession. True reform must also end the bailout mindset that was perpetuated by the last Congress. I am proud to work towards repeal of Dodd-Frank because Congress must protect the taxpayers, instead of handing out favors to Wall Street."

Bachmann's legislation has been endorsed by the Club for Growth and Americans for Prosperity. Original cosponsors include Chairman Darrell Issa (CA-49) of the Committee on Oversight and Government Reform, Representative Todd Akin (MO-2), Representative Tom McClintock (CA-4) and Representative Bill Posey (FL-15).

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