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Come and Read It Report

Jan 17, 2018

Fellow Texans,

2018 is off to a great start. Reports from around the country continue to shine on the fact that businesses and their employees are seeing the benefits of the Tax Cuts and Jobs Act, and it's only the beginning:

  • Increased wages
  • 401(k) matches
  • Bonuses

Whether you’re a family of four, a single parent, an individual taxpayer, or a small business owner, you’ll see more savings and bigger paychecks. This means more money back in your pocket, and more growth for small businesses.

The Community Financial Institution Exemption Act

Last February, I introduced a bill, H.R. 1264, the Community Financial Institution Exemption Act, that would strengthen Section 1022 of Dodd-Frank. Right now, community institutions are being crushed under oppressive regulations, and are succumbed to financial strain. We need to strengthen this exemption and require the Consumer Financial Protection Bureau (CFPB) to finally do its job by protecting those it’s meant to protect such as credit unions, community banks, and ultimately, the consumer. Click here or below to watch the Financial Institutions and Consumer Credit Subcommittee hearing.

The FOMC Representation Improvement Act

Last week, I introduced H.R. 4759, the Federal Open Market Committee (FOMC) Representation Improvement Act. Currently, Federal Reserve Districts take part in a voting rotation where only certain Districts are heard from on certain years. My bill would allow for monetary policy to be better informed by permitting every District to attend, and fully participate in, all FOMC meetings. Click here to watch me discuss my bill in the Monetary Policy and Trade Subcommittee hearing. 

Immigration Update

Earlier last week, I had the opportunity to meet with a number of Deferred Action for Childhood Arrivals (DACA) recipients from across Texas. I was grateful for their willingness to share their stories with me. I remain focused on improving border security, and I will continue to work with my colleagues in the House and Senate to address the fundamental problems that have led to our broken immigration system.

Legislative Update

Last week: In addition to voting on 17 pieces of legislation, I cosponsored H.R. 4607H.R. 2683H.R. 681, and H.R. 4712.

The Financial Services Committee held three subcommittee hearings that I participated in. If you missed them, you can catch the first Monetary Policy and Trade Subcommittee hearing, that I am vice chair of, here. At the second MPT Subcommittee hearing, my bill, H.R. 1264, was discussed. You can click here to watch me question Mr. Robert Fisher, who is the president and CEO of Tioga State Bank, and was in Washington on behalf of the Independent Community Bankers of America. Additionally, at the Financial Institutions and Consumer Credit Subcommittee hearing, I questioned Dr. Norbet Michel, director at the Center for Data Analysis, and Mr. Alex Pollock, senior fellow at the R Street Institute, regarding the positive impacts my bill, H.R. 4759, will have on American consumers.

This week: The Committee has five bills up for a vote: H.R. 4258H.R. 770H.R. 4279H.R. 2954 and H.R. 3326. We also have a markup that started this morning where we are debating and voting on 17 bills. One of these bills is a piece of legislation that I introduced, H.R. 1264, that I spoke about earlier. I am confident this bill will pass the Committee, and then head to the House floor for a full vote.

Later, we will also vote on H.R. 4712, the Born-Alive Abortion Survivors Protection Act, that I am a cosponsor of. I have always believed that life begins at the moment of conception, and this bill further protects those children who do not yet have a voice. This bill will ensure medical care and legal protection for abortion survivors, protects their mothers from prosecution, and holds abortionists accountable. As a steadfast pro-life supporter, I am looking forward to continuing to support legislation that fights for rights of the unborn.

Lastly, the current Continuing Resolution (CR) is set to expire on Friday, January 19. Funding the government by CR after CR is a terrible way to do business. We need to address our out-of-control spending. We need to strengthen our military and take better care of those who take care of us.  Another CR is not the long-term answer. Washington, D.C needs to do better.

As always, I have included some articles and releases you may find interesting located on the right side of this newsletter. It is an honor and privilege to represent the people of Texas’ 25th Congressional District and as always, please reach out to me with any issues and concerns that are important to you.

In God we Trust,

Roger Williams

Member of Congress