Tonight, the House of Representatives narrowly passed H.R. 83, the Consolidated and Further Continuing Appropriations Act for Fiscal Year 2015 or so-called “CROmnibus. Representing an area that is largely dependent on Department of Defense and other federal spending, I appreciate how important fully funding our federal government for the entire fiscal year is to my constituents and to our nation. Regrettably due to several truly egregious provisions added late to this bill, I voted No. I could not in good conscience vote for a bill that includes a provision that will allow banks to speculate with taxpayer insured funds – some of the very same activity that contributed to the 2008 Financial Crisis and that Congress voted in 2010 to limit when we passed the Dodd-Frank Wall Street Reform Act. At the same time it includes another provision that further erodes our nation’s campaign finance laws by increasing the maximum amount of money wealthy individuals can contribute to a political party. So in one hand these individuals can speculate with taxpayer insured funds and in the other donate any proceeds from such speculation to their political benefactors. That is just too much of an insult to the legislative process.
Posted on: Fri, 12 Dec 2014 03:23:59 +0000
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