WASHINGTON – U.S. Rep. Scott Tipton on Tuesday expressed his support for House Resolution 37, the Promoting Job Creation and Reducing Small Business Burdens Act.
The bill combines 11 different bills into a single piece of legislation.
It aims to make “technical corrections” to the Dodd-Frank Wall Street Reform and Consumer Protection Act and to “enhance the ability of small and emerging growth companies to access capital through public and private markets, to reduce regulatory burdens, and for other purposes.”
“#SmallBiz is vital to the economic wellbeing of the US. That’s why I’ll vote for HR 37 to reduce the reg. burden,” Tipton, a Cortez Republican, tweeted Tuesday.
U.S. Rep. Michael G. Fitzpatrick, R-Penn., a colleague of Tipton on the House Committee on Financial Services, is sponsoring the legislation.
The House was scheduled to reconsider the bill Tuesday, which fell 16 votes short of passing the House last week under the “suspension of the rules” procedure. The procedure requires a two-thirds vote, and the final margin was 276-146.
Rep. Maxine Waters, D-Calif., the ranking member of the House Financial Services Committee, expressed disappointment to the House Rules Committee on Monday that the legislation was “rushed” to the House floor “without a hearing or a mark-up in the Financial Services Committee.
“Our committee has nine new members, members who have not had the opportunity to carefully consider this package and determine its impacts,” Waters said.
Waters also described the legislation in a statement last week as an attempt at “deregulation” by House Republicans “that benefits Wall Street’s biggest banks at the expense of American consumers.”
The bill would nevertheless tie into Tipton’s legislative agenda, as he vowed to focus on local job creation throughout the 114th Congress.
“If the president will work with us, we have an opportunity to get things done in Washington, especially in terms of encouraging economic growth and job creation at the local level,” Tipton said in a statement last week.
“Local economic development continues to be my focus and will guide the work I do in this Congress as I serve on the Financial Services Committee and on the Congressional Small Business and Western Caucuses among others,” he said.
Michael Cipriano is a student at American University in Washington, D.C., and an intern for The Durango Herald.
