The 22,000 pages of regulations in the Obama-era Dodd-Frank banking bill have throttled the economy, holding back growth. It has “cost $36 billion to comply with in the first six years, has choked competition in the banking industry, made banking more expensive, harmed economic growth and, to top it off, failed to make the banking system safer or end ‘too-big-to-fail.'”
But there’s hope in River City. In the form of the House Financial Choice Act, which would repeal Dodd-Frank’s pages and pages of regulations altogether.
“Unfortunately, Democrats in the Senate are determined to stop this bill in its tracks. What’s likely to emerge there will be a Dodd-Frank reform bill that is tepid enough to attract sufficient Democrats to overcome a filibuster. This is hardly enough, but at least the regulatory ball is moving in the right direction.”
Time to kill the filibuster?
Twenty-two thousand pages of regulations. Many scores of new bureaucrats to enforce them. This is why we elected Donald Trump to drain the swamp.