Despite not having gone far enough, Dodd Frank is trying desperately to regulate the financial industry while also trying to prevent another Great Recession.
Republicans Dare to have another Great Recession: But Republicans want to play a game of chicken with our economy and retirement investments again by smashing to pieces every line of reform. Like they told us after the global crash, “you knew the risks, you took your chances, and you lost. That’s the market.” Strangely that didn’t piss off a majority of tightwad conservative voters either who lost money. It’s an odd voting base to say the least.
Congressional Veto Power over an administrations Department Regulations: Big government Republicans want veto power over regulations that might get in the way of business.
Cut Corporate Income Tax or Else...: And worst of all, Republicans won’t stop companies shifting jobs overseas or prevent tax inversions until they get a cut in the corporate income tax. Never mind those inversions are permanent and lost forever as revenue.
Sadly, there's more too...Roll Call:
REPUBLICAN JOBS PACKAGE: The House approved a package (HR 4) of 15 jobs bills that previously passed the House as individual measures, and then died in the Democratic-led Senate. In part, the bills would expedite logging in national forests, scale back the 2010 Dodd-Frank financial-regulation law, make bonus depreciation and certain charitable contributions by businesses a permanent part of the U.S. tax code, ease certain environmental rules to promote job creation and give Congress veto power over federal regulations having at least a $100 million annual impact on the economy.
Voting yes to increase the deficit with permanent tax cuts and lost corporate revenues: Paul Ryan, Jim Sensenbrenner, Tom Petri, Sean Duffy, and Reid Ribble.
DEMOCRATS’ TAX CHANGES: The House on Thursday defeated a motion by Democrats to amend HR 4 (above) in a way that would deny federal tax breaks to companies that shift U.S. jobs overseas or which reincorporate abroad to avoid U.S. taxation, a process known as “inversion.” The motion also sought to require the Republican leadership to put Democratic issues such as a minimum-wage increase, pay equity for women and student-loan refinancing to House votes.
And you know who defeated cutting corporate handout to offshorers? They're pictured above. And Tom Petri is a moderate?