Michele Bachmann introduced H.R. 87, to repeal the Dodd-Frank financial reform bill

POSTS TAGGED: Michele Bachmann

Washington, Jan 6 - Upon being sworn in for her third term in the House of Representatives, Congresswoman Michele Bachmann (MN-06) introduced new legislation, H.R. 87 Bill Summary & Status 112th Congress (2011 - 2012) 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). ###

Bill Summary & Status 112th Congress (2011 - 2012) H.R.87

TEXT and IMAGE CREDIT: Congresswoman Michele Bachmann, 6th District of Minnesota Washington Office 103 Cannon HOB Washington, DC 20515 Phone: (202) 225-2331 Fax: (202) 225-6475

Sandy Adams Co-Sponsors H.R. 25 FairTax Legislation

Washington, D.C. – Representative Sandy Adams (FL-24) issued the following statement after she co-sponsored H.R. 25, the FairTax, Bill Summary & Status 112th Congress (2011 - 2012) H.R.25 on the first day of session in the 112th Congress. If enacted into law, the FairTax would eliminate the IRS, letting Florida taxpayers keep more of their hard earned money and helping create the private sector jobs that will improve our economy.

“The FairTax isn’t about taxes; it’s about freedom, jobs and less government intrusion. Florida residents are fed up with business as usual in Washington, D.C. and by signing on as a co-sponsor of the FairTax on the first day of session I am sending a message to my constituents that I heard their concerns and will do everything I can to follow through on their strong desire to fix what is wrong with Congress.”

“It is clear that our current system of taxation is a bureaucratic mess, full of loopholes that allow the Federal Government to dig deeper into our pocketbooks. I support removing the IRS from the process because it will not only open the door to transparency, but it will create a more simple and equitable tax system. The FairTax will replace the bureaucracy of the IRS with a simple, easy to understand tax policy that encourages economic growth while reducing the heavy burden of excessive taxes on the American people. The last thing we need in a recession is to raise taxes, and passing the FairTax while eliminating the IRS will give families and small businesses the tools they need to create jobs and grow the economy.” ###

Bill Summary & Status 112th Congress (2011 - 2012) H.R.25

TEXT CREDIT: Congresswoman Sandra Adams Washington, DC. 216 Cannon HOB Washington, DC 20515 Phone: (202) 225-2706 Fax: (202) 226-6299 Hours: Monday-Friday 9:00AM-5:00PM Eastern time.

IMAGE CREDIT: www.gop.gov/