Tag: Rep Scott Garrett
Scott Garrett on Federal Reserve Member Political Contributions
Gottheimer Tax, Favoring Washington Special Interests Not New Jersey Families
October 6,2016
the staff of the Ridgewood blog
Ridgewood NJ, Garrett for Congress released a new ad today exposing Josh Gottheimer’s support for outrageous spending and taxes.
“It’s Josh Gottheimer’s tax – outrageous Washington spending. Gottheimer supports spending millions of your tax dollars on studies to determine if a bumblebee is hairier than a squirrel, to monitor shrimp on a treadmill, and like wine tasting parties in India. All at your expense. Even worse, reports show the Gottheimer tax raises your taxes by thousands. Josh Gottheimer. Bad on spending and bad on taxes. Wrong for New Jersey.”
Josh Gottheimer has repeatedly touted his support for outrageous spending, like that contained in HR 2029, Consolidated Appropriations Act, 2016. In addition to this wasteful spending, which means higher taxes for Fifth District residents, Gottheimer’s “family member” Hillary Clinton’s tax rates are devastating for New Jersey families. Congressman Scott Garrett has consistently fought against wasteful spending, and has always advocated for lower taxes.
Here are just a few ridiculous spending items on which Josh Gottheimer wants to spend Fifth District tax dollars:
- Daily Caller: Back To The Gym — Feds Pay For Shrimp To Hit The Treadmills Again! “Shrimp will once again run on a treadmill at taxpayers’ expense. A National Science Foundation funded-experiment that tested how sickness impaired shrimp mobility by putting the crustaceans on a treadmill made an uproar in the media and in Congress nearly five years ago. Yet the NSF has once again given tax dollars to the same researchers to put the would-be seafood on a cardiovascular workout regime.”
- Sen. Jeff Flake: Government Studies That Will Leave You Scratching Your Head. Despite their size differences, a grey squirrel and a bumble bee both have about three million hairs. The researchers looked at microscope images to count the number and sizes of hairs of hundreds of animals.
- Citizens Against Government Waste: India Wine Tasting. “[T]he report proposes eliminating the Market Access Program (MAP), which aims to help agricultural producers promote U.S. products overseas. However, MAP is really a corporate welfare program that funnels millions of dollars to large, profitable corporations and trade associations that can well afford to pay for their own ads. Eliminating MAP would save taxpayers $1 billion over five years.”
Under a Hillary Clinton/Josh Gottheimer tax plan, families will see tax increases no matter their income bracket.
This is Why You Vote for Scott Garrett ,Garret rips Secretary Lew for not playing by the same rules as the rest of us
Speaker Paul Ryan Endorses Rep. Scott Garrett
October 4,2016
the staff of the Ridgewood blog
Ridgewood NJ, In an odd turn of events Rep. Garrett has received an endorsement from Speaker of the House Paul Ryan.
It has been well documented that Garrett has had a sometime contentious relationship in the GOP leadership .
“Throughout my tenure in Congress, Scott Garrett has been a consistent voice in Washington working to protect taxpayers,” said Ryan. “He has been a reliable ally in the fight to reduce wasteful spending and to balance the budget.”
Ryan’s endorsement emphasizes Garrett’s record as a consistent conservative leader who can get results in Washington D.C.
“I am proud to receive the support of Speaker Ryan,” said Garrett. “The Speaker is a principled leader on reining in our federal budget, and I look forward to continuing to work with him in the future. There are many serious issues that need to be tackled in the next Congress, and I am eager to continue to help to solve problems to help the people of New Jersey and the Fifth District.”
Garrett Hammers Fed Chairwoman on Political Conflicts of Interest
September 30,2016
the staff of the Ridgewood blog
Ridgewood NJ, During a congressional hearing on Wednesday Rep. Scott Garrett (R., N.J.) questioned Fed Chairwoman Janet Yellen about alleged conflicts of interest on the board. The congressman asked specifically about Fed governor Lael Brainard and her donations and connections to Hillary Clinton’s presidential campaign.
Federal Reserve Chair Janet Yellen’s defense of the central bank as non-partisan came under attack on Wednesday, as a Republican congressman cornered her on whether a key policy maker would have a conflict of interest in discussing a post in the next U.S. president’s administration.
Fed Governor Lael Brainard has donated to Clinton’s campaign and is widely viewed as a potential Clinton pick for Treasury secretary. Yellen hesitated and then demurred when Representative Scott Garrett of New Jersey asked whether Brainard would have a conflict of interest if she were indeed in talks with Democratic nominee Hillary Clinton’s campaign about a position
Garrett Announces Teaneck Democrat Mark Schwartz Endorsement
September 27,2016
the staff of the Ridgewood blog
Ridgewood NJ, Garrett for Congress today announced an endorsement from Teaneck Democratic Councilman Mark Schwartz.
“As a long serving Teaneck Councilman, and as an active resident of the 5th District, I’ve gotten to know many great and honest leaders,” said Schwartz. “One thing I’m proud of is being unafraid to admit when a great leader belongs to the opposite party. As a Democrat, Congressman Garrett and I don’t agree on every issue, but we do agree on two important issues for me and my community. Scott has never voted to raise taxes on our families – period. He is also one of the best friends Israel has in all of Congress, and we should be honored to give him our votes and send him back for another term. It’s imperative that Scott be able to continue his work, and I’m honored to put Teaneck ahead of party and reach across the aisle to give him my support.”
Schwartz’s support highlights Garrett’s record as an advocate for the State of Israel.
“I’m honored to receive the endorsement of Councilman Mark Schwartz,” said Garrett. “Mark is a tireless advocate of the people of Teaneck and the 5th district. On issues close to home, there can be no compromise. Mark and I agree that we can never raise taxes on our families, and that we can never compromise the security of the United States and Israel.”
Rep. Garrett has sponsored and cosponsored numerous pieces of legislation supporting Israel’s right to defend its sovereignty, recognizing Jerusalem as the undivided capital of Israel, and condemning Palestinian rocket attacks on Israeli civilians. He introduced the Jerusalem Embassy Recognition Act, and cosponsored the Hezbollah International Financing Prevention Act. As an outspoken member of the Iran Sanctions Conference Committee, he called for full implementation of strong sanctions against the Iranian regime, and has subsequently opposed President Obama’s Iran nuclear arms deal.
Garrett Calls on FDA to Answer Questions About EpiPen Monopoly
September 24,2016
the staff of the Ridgewood bog
Ridgewood NJ, Rep. Scott Garrett (NJ-05) called on the Food and Drug Administration (FDA) to express concerns over the near monopoly currently held by Mylan Pharmaceuticals on the EpiPen (epinephrine injection) which is used in the treatment of severe allergic reactions. The price of these life-saving devices has skyrocketed recently, making them unaffordable for many Americans families.
“Like many government bureaucracies, the Food and Drug Administration stifles innovation and creates unnecessary roadblocks that end up hurting the American people,” said Garrett. “In this case, their short-sightedness has made a common treatment that millions of Americans rely on prohibitively expensive. The FDA has a job to protect Americans and ensure the food and drugs we use are safe, but they also need to make sure their actions don’t hurt the very people they’re trying to protect.”
The letter, signed by a number of Members of Congress, asks the EPA to allow other companies to make alternatives to the EpiPen product by streamlining the FDA review process. Specifically, the letter asks:
– If the FDA can clarify whether any barriers exist to the approval of safe alternative products to EpiPens.
– How many alternatives to Mylan’s EpiPen are currently being reviewed by the FDA
– Where these alternatives are in the review process
To read the entire letter, click here.
Garrett Blasts Treasury Secretary Jack Lew Over the Different set of rules for Government Officials for lavish Wall Street Pay Packages
September 23,2016
the staff of the Ridgewood blog
Ridgewood NJ, Rep. Scott Garrett, (NJ-05) Chairman of the subcommittee on Capital Markets and Government-Sponsored Enterprises, delivered the following opening remarks at Financial Services Committee hearing entitled, “The Annual Report of the Financial Stability Oversight Council” featuring Treasury Secretary Jack Lew:
Congressman Scott Garrett’s opening remarks as prepared for delivery:
Mr. Secretary, it’s great to see you again. I understand you were a tough man to nail down to testify today – I guess I would be too if my job was defending FSOC
So we’re starting to get to that point in this Administration’s tenure where people inevitably start to talk about the “legacy” it will leave behind
Unfortunately, when it comes to FSOC, the Obama Administration’s legacy will be remembered as one of secrecy, obfuscation, and a continued refusal to answer questions or provide transparency to either Congress or the American public
Thankfully, it’s not just us in the legislative branch that have taken notice
The recent court decision invalidating the designation of MetLife is a reminder to all of us we live in a system governed by the rule of law and not the rule of bureaucrats.
I hope the Treasury Secretary understands this as well, and I look forward to his answers before our Committee today.
Rep. Scott Garrett had a lively interaction with Treasury Secretary Jack Lew at yesterday’s Financial Services Committee oversight hearing. Garrett addressed Lew’s scandal ridden record at Citibank directly causing the layoff of over 50,000 employees requiring a taxpayer bailout.
When the dust settled, we learned that as usual there are a different set of rules and standards for high-ranking government officials–like Secretary Lew–when it comes to lavish Wall Street pay packages.
Opponents of CHOICE Act Aren’t Interested in Protecting Consumers
“the CHOICE Act offers us a way out by pointing us towards a system that will allow the market to determine the risk of a financial institution, and make it unlikely that taxpayers will ever be called on again to bail out Wall Street and the bad decisions of regulators who oversee it” Rep. Scott Garrett CD5
Norbert Michel / @norbertjmichel / September 20, 2016
On Tuesday, Sept. 13, the House Financial Services Committee passed the Financial CHOICE Act. Among other needed financial reforms, the bill would make taxpayer-funded bailouts of big banks less likely and ease regulations that hurt community banks.
It’s hardly a surprise that the vote (30–26) was largely along party lines, but some of the anti-CHOICE Act rhetoric was disturbing. Just as with the 2010 Dodd-Frank Act, it appears that fear-mongering and special interest lobbying will prevent real financial reforms from even being debated.
Only one of the bill’s 11 sections deals with reform of the Consumer Financial Protection Bureau (CFPB), but opponents are doing their best to tie this entire debate to the CFPB and Wells Fargo. In the process, they’re presenting Americans with a false choice: leave the CFPB alone and remain safe, or reform the CFPB and drown in fraud.
Ranking member Maxine Waters, D-Calif., proclaimed:
We need to look no further than just last week to see why we need a strong Consumer Financial Protection Bureau, which used its authorities under Dodd-Frank to uncover a massive scheme under which millions of consumer accounts at Wells Fargo were fraudulently opened, with the bulk of this fraud perpetrated in my hometown of Los Angeles.
One serious problem with this logic is that the fraud occurred just prior to 2014, almost two years after the CFPB was up and running. And the CFPB didn’t uncover it.
If the CFPB is so vital for fraud protection, what happened?
But what good is logic when the objective is to scare everyone into believing Dodd-Frank and the CFPB make us safer? Fear-mongering is a tried and true Washington tactic, especially when it comes to financial markets.
And it’s not just politicians who use fear-mongering. Special interest groups use the same ploy, and the retail trade associations’ opposition to the CHOICE Act’s repealing of the so-called Durbin Amendment is the perfect example.
The Durbin Amendment, named after Illinois Senator Dick Durbin, imposed a price cap on the debit card interchange (“swipe”) fees that banks charge for using their cards. Supposedly, retailers everywhere were going to pass these savings on to their consumers.
As was easily predicted, consumers haven’t saved at all. Even Barney Frank admits that consumers didn’t see any benefit from the price cap.
Instead, retailers have benefited from the lower fees without lowering their customers’ prices. Worse, consumers have lost out on low-cost banking services because banks raised other fees to compensate for their lost revenue.
Need more evidence?
It’s not the consumers clamoring for the House to leave price controls in place. It is business and retail trade associations, such as the National Grocers Association, the Society of Independent Gasoline Marketers of America, and the National Restaurant Association.
There’s no doubt that these groups’ members have a difficult time running a profitable business, but so does everyone. Instead of pushing back on the CHOICE Act over one tiny section—one that would benefit millions of consumers—these groups should push for large-scale relief of the regulations that make it so difficult for their members to earn money.
Supporting the types of reforms in the CHOICE Act would be a great place to start.
Garrett on Zadroga the Real Story
photo Rep. Garrett with Jon Stewart discussing the Zadroga Act
September 18,2016
the staff of the Ridgewood blog
Ridgewood NJ, In response to misrepresentations of Congressman Garrett’s record, specifically on the James Zadroga 9/11 Health and Compensation Act, Garrett for Congress released the following fact check to clarify these falsehoods. Congressman Garrett voted for the legislation that first established the program and was a cosponsor of its reauthorization. He clearly supports the program, and clearly opposes its politicization – like when the legislation has been attached to unrelated tax increases or bloated spending bills. Additionally, many leaders in the Fifth District community are standing strong with Congressman Garrett, as seen by their statements below.
Robert Knapp, former Oakland Volunteer Fire Department Chief: “The community of Oakland is only a short car ride from New York City, and our residents remember both the heroism and the losses of September 11, 2001. In the days following the 9/11 attacks, I went to Ground Zero to lend my support. I saw the devastation and destruction first hand. Our residents also remember the advocates for our community in the aftermath – one of whom is Congressman Scott Garrett. Scott has fought for our First Responders and he has opposed efforts to politicize their struggles. Just as they stand strong in the face of adversity, we know we can rely on Scott to stand strong for them in the face of political pressure.”
Assemblyman Parker Space, former Wantage Fire Department Chief: “Scott Garrett is a champion for the brave men and women in uniform that serve the Fifth District. Any suggestion otherwise is a shameful smear manufactured to score cheap political points. I’ve known Scott for years and have personally witnessed his public service and dedication to our community’s First Responders. As a third generation firefighter, I’m deeply offended by the lies cooked up by some Washington, DC political operatives in a ploy to obscure the truth here in New Jersey.”
Freeholder Carl Lazarro: “After the horrible attacks of 9/11, thousands of firefighters, police officers and others have been out of work because of the illnesses they suffer as a result of their heroic sacrifices. Congressman Scott Garrett has been a vocal supporter of the Victims Compensation Fund established by the Zadroga 9/11 Health and Compensation Act, and actively fought to have the program reauthorized. He has continually demonstrated his commitment to our First Responders and I am proud to stand beside him.”
Zadroga Fact Check
FACT: Rep. Carolyn Maloney introduced the James Zadroga 9/11 Health and Compensation Act bill in 2007 to provide compensation and treatment to workers who had been affected by the cleanup. This was a bipartisan piece of legislation, and solely addressed the needs of those affected by the 9/11 cleanup. Congressman Garrett was a cosponsor of this legislation.
FACT: Congressman Garrett again cosponsored the bill when it was reintroduced in 2009. Up through this, it was still a bipartisan effort and many were working together to find ways to pay for this program.
FACT: Democrats politicize the Zadroga Act by attaching it to a tax increase. Congressman Garrett voted against this legislation, outraged at this manipulation of the legislation.
FACT: Congressman Garrett voted for final passage of the Zadroga Act after the tax increases were removed by a Senate amendment. This legislation was then signed into law.
FACT: Reauthorization of the Zadroga Act was introduced in mid-April 2015. Congressman Garrett was again a cosponsor of this legislation.
FACT: Congressman Garrett wrote a letter to Congressional leadership asking for the Zadroga Act to be voted on by itself as stand-alone legislation, rather than being used as a political bargaining tool.
FACT: Congressional leadership attached the Zadroga Act to an unrelated year-end $1.1 trillion spending bill, using the legislation as an incentive to get votes for the passage of the underlying spending bill that was thousands of pages long and had a litany of other programs. Congressman Garrett could not support a $1.1 trillion government spending bill, despite strongly voicing his support for the permanent reauthorization of the Zadroga programs.
Democratic Lobbyists Openly Looking to Buy NJ5 Congressional Seat
“Nobody is even putting up a pretense here that the Democratic lobbying establishment isn’t trying to buy an election”
(Hackensack, New Jersey) – BuzzFeed News just posted an explosive story about how the Democratic lobbying establishment is looking to help buy Josh Gottheimer New Jersey’s Fifth District congressional seat:
“Josh Gottheimer has the entire D.C. Democratic political establishment working to help buy him this election. He doesn’t care about the views and values of Fifth District residents — he’s working to win the approval of the D.C. elite like lobbyist Steve Elmendorf and Goldman Sachs. This is merely a preview of what Josh Gottheimer would be like as a member of Congress. If Josh Gottheimer is so interested in representing Goldman Sachs’ values, maybe he should be their lobbyist, rather than a congressional candidate. Scott Garrett’s values are not for sale. He represents the people of the Fifth District — not the check-writing lobbyists in Washington, D.C.,” Neibart said in a statement to BuzzFeed News.
Gottheimer is a former aide in the Clinton White House, and has not only the support of the Clinton machine but also Washington’s Democratic establishment. He also has outraised Garrett this cycle by a wide margin, taking in $2.9 million compared to Garrett’s $1.3 million, according to Open Secrets.
Democrats have made toppling him a priority. Last week, a political action committee connected to House Minority Leader Nancy Pelosi began running ads against him. And as election-day approaches, Garrett can expect that more is on the way, Democratic operatives warn.
But most damning for Garrett has been the campaign by Elmendorf and a group of other financial and technology lobbyists to end Garrett’s tenure in Congress by drying up his pool of potential corporate contributions.
Elmendorf and his allies began meeting with lobbyists for major corporations, focusing particularly on investment firms and banks, Garrett’s campaign finance life-blood.
[A] Republican campaign strategist insisted that regardless of where the business community stands on LGBT issues, the involvement of powerful lobbyists is little more than the sort of backroom dealings most Americans believe happen every day in Washington. “Normally, we like to pretend that lobbyists don’t have the kind of influence the rest of America thinks they do. But nobody is even putting up a pretense here that the Democratic lobbying establishment isn’t trying to buy an election,” the strategist said.
House Committee Approves Garrett Promoted Financial CHOICE Act to end Corporate Bailouts
September 14,2016
the staff of the Ridgewood bog
Washington DC, Legislation to end bailouts for big banks, toughen penalties for wrongdoing on Wall Street, promote economic growth, and provide desperately needed regulatory relief for small community banks and credit unions passed the House Financial Services Committee 30-26 today.
The legislation – the Financial CHOICE Act – ends the Dodd-Frank Act’s taxpayer-funded bailouts of large financial institutions; relieves banks that elect to be strongly capitalized from growth-strangling regulation that slows the economy and harms consumers; imposes tougher penalties on those who commit financial fraud; and demands greater accountability from Washington regulators.
“Democrats just voted against a bill that increases penalties against those who commit financial fraud. They just voted against a bill that ends taxpayer-funded bailouts, and they just voted against legislation that provides relief from Washington’s crushing regulatory burden for small banks, credit unions and consumers,” said Financial Services Committee Chairman Jeb Hensarling (R-TX), the sponsor of the bill.
“The bill holds Wall Street accountable with the toughest, strongest, strictest penalties ever – far greater than those in Dodd-Frank. And as recent headlines attest, obviously stronger penalties are needed. It requires banks to be well capitalized to prevent another financial crisis and puts in place the toughest penalties in history to protect consumers from fraud and deception.
“The Financial CHOICE Act will help grow the economy for all Americans, not just those at the top. It promotes strong and transparent markets to revitalize job creation in our poorest communities and ensures every American has the opportunity to achieve financial independence, no matter where they start out in life.”
The Financial CHOICE Act, which stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs, received strong support from community banks and credit unions, small business groups and conservative organizations. Large financial institutions did not offer their support for the bill.
Democrats on the Committee – despite having spent months criticizing the Financial CHOICE Act – refused to offer a single amendment to the bill.
For more information on the Financial CHOICE Act, visit www.financialservices.house.gov/choice/.
Organizations offering praise for the Financial CHOICE Act include the following:
“The [Financial CHOICE Act] would provide meaningful regulatory relief to help community banks foster economic and job growth in their local communities.” — Independent Community Bankers of America
“This bill provides significant regulatory relief essential to restoring economic growth. Republican members of Congress have repeatedly promised to get rid of Dodd-Frank and stop taxpayer funded bailouts. Now they have the opportunity to fulfill that promise by bringing the Financial Choice Act to a vote in the House and Senate, and sending the bill to the President’s desk.” — Heritage Action
“Chairman Hensarling’s CHOICE Act would be a win for Main Street consumers, workers and small businesses. Since Dodd-Frank was passed in 2010, access to free-checking has decreased while lobbyists’ importance has increased. The CHOICE Act helps reverse this trend.” — Main Street Growth Project
“Americans for Prosperity applauds your leadership in reining in the overbearing financial regulations that threaten growth and threaten consumer financial stability. Repealing and replacing the failed policies established in the Dodd-Frank Act will mean that Americans will have greater access to capital, which will lead to greater job growth, personal wealth, and overall economic prosperity. We are proud to support the CHOICE Act, and we urge your colleagues to support it.” — Americans for Prosperity
“….[the Financial CHOICE Act] is precisely the right combination to get the American economy moving again. The CHOICE Act offers sensible regulatory relief for qualifying institutions, protects the American taxpayer and consumer from another Wall Street meltdown, and holds federal financial regulatory agencies accountable.” — Independent Bankers Association of Texas
“….several components of this legislation target reforms specifically to facilitate investment in small business. The inclusion of these provisions and others will provide regulatory relief and modernization that will allow the private sector to fuel economic growth in our 21st century economy.” — Small Business Investor Alliance
“This is an important bill that will truly reform rules governing the financial system, encourage innovation across the system, vastly improve access to capital for entrepreneurs and small businesses, and transform a regulatory structure that lacks accountability, is too secretive, and ignores its responsibilities concerning small businesses.” — Small Business & Entrepreneurship Council
“We greatly appreciate the Chairman’s efforts in Title III of the bill to reform the Consumer Financial Protection Bureau (CFPB or Bureau). This title will help to ensure the Bureau serves as a non-partisan regulator that operates within the framework of the law by giving Congress more oversight authority, taking into account the opinions of all stakeholders, and properly weighing the impact its regulations have on the availability of credit.” — Consumer Bankers Association
“NAR is pleased that the FCA [Financial CHOICE Act] includes provisions that will enhance transparency, accountability and fairness in our financial system. As a result, the FCA will help expand financial product choice and promote economic opportunity. These provisions are an important step towards making property ownership a reality for hardworking Americans and U.S. businesses.” – National Association of Realtors
“If we want the economy to improve — if we want to give all Americans the chance to prosper again — we need to put an end to Washington’s destructive regulatory agenda once and for all. Thankfully, an increasing number of elected officials in Washington are fighting against the harmful effects and unintended consequences of these onerous regulations. Leading the fight in Congress has been House Financial Services Committee Chairman Jeb Hensarling (R-TX), who recently outlined a comprehensive plan to turbocharge the American economy. His new legislation, The Financial CHOICE Act, aims to curb regulations to create opportunity and choice for investors, consumers, and entrepreneurs nationwide.” — Conservative Coalition Letter of Support
“If signed into law, the bill would end the era of too big to fail, and would move banking and financial decisions away from Beltway and back to Main Street. This bill is balanced, meets key conservative criteria, and should continue to move through the House to final passage.” — FreedomWorks
“….[the Financial CHOICE Act] would begin the process of implementing sensible, necessary reforms to the U.S. financial system. That system has been saddled with an ineffective regulatory structure and an array of conflicting legislative and regulatory requirements that, individually or collectively, constrain growth. The Chamber believes the Financial Choice Act is a positive first step for unlocking the capital markets to better facilitate the financing of America’s economic growth and job creation.” — U.S. Chamber of Commerce
“….the CHOICE Act offers a strong alternative to Dodd-Frank and the regulatory morass it created. Rather than creating a flurry of complex rules in response to the financial crisis, Congress should have mandated higher capital requirements for financial institutions. That is why NTU is enthusiastic about the CHOICE Act’s “off ramp” from the bulk of the current Dodd Frank regulatory regime.” — National Taxpayers Union
“….the CHOICE Act and the substantial regulatory relief it provides…will generate meaningful economic and job growth in our communities.” — Mid-Size Bank Coalition of America
“….[the Financial CHOICE Act] address[es] the challenging credit conditions that home builders and home buyers continue to experience as a result of an overly zealous regulatory response to the financial crisis. NAHB appreciates your efforts to initiate regulatory reform to support a more robust recovery.” — National Association of Home Builders
“….it is vital that we take heed of any policy that claims to “fix” the voluntary actions of consumers. Price controls go against everything we stand for as a country and do nothing but redistribute wealth, damaging the lives of hardworking Americans. The first step forward is reform. The Financial CHOICE Act is that first step.” — Red State
“….the Financial Choice Act if passed will restore competition in the marketplace by removing arbitrary government price caps. Additionally, it will allow banks the ability to recoup the money they spend on fraud protection from the retailers that reap the benefit of the use of debit cards. Consumers will once again have affordable access to basic banking services, and small businesses will have the freedom to negotiate processing fees that make sense based on the type of goods they sell. In short, all true conservatives in Congress should rally behind Neugebauer and Hensarling’s bill, because it will cut back on big government red tape and allow the free market to thrive again.” — Liberty Unyielding
Ridgewood Veterinary Hospital’s Adopt A Pet Day
Congressmen Garrett ASPCA day on Capital Hill
Sun, September 18, 2016
Time: 11:00 AM – 4:00 PM
Location: Ridgewood Veterinary Hospital, 320 E. Ridgewood Ave., Ridgewood, nj 07450
If you have room in your home and heart, we will have 30 shelters and rescue groups with 300 pets for adoption. Experience the joy of unconditional love. Someone is waiting for you. . .
Ridgewood Veterinary Hospital
201-447-6000
contact@ridgewoodvet.com
www.ridgewoodvet.com
Garrett Bill to Make it easier for American Innovators to Raise Money Passes House
September 8,2016
the staff of the Ridgewood blog
WASHINGTON, D.C. – Today the House passed a legislative package to help American innovators access capital that included Rep. Scott Garrett’s (NJ-05) Private Placement Improvement Act. The Accelerating Access to Capital Act, H.R. 2357, is a package of three bills that will help level the playing field and make it possible for small businesses to raise capital by lessening the burdens of complex and costly securities regulations imposed by Washington. Garrett is Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises.
“If we want bigger paychecks and more opportunity in New Jersey, it starts with ending the excessive regulations from Washington that are hurting our economy,” said Garrett. “Instead of clearing a path for success, federal regulations cost small businesses with less than 20 employees 45 percent more per employee than their larger counterparts, essentially stepping on innovators at a time when they are most vulnerable.
“The Accelerating Access to Capital Act recognizes that having one-size-fits-all federal regulations that make no distinction between someone just starting out and some of the biggest companies in the world is inherently unfair. We can, and must, level this playing field by tailoring regulations to smaller businesses to help the next great American success story. Today’s vote was a good first step.”
The Private Placement Improvement Act would prohibit the Securities and Exchange Commission (SEC) from implementing onerous requirements on companies that raise capital through private channels. Despite statutory requirements to promote capital formation, the SEC has largely failed to prioritize streamlining regulations that could help small companies access investment capital.
