McConnell

Opening Remarks

Today -

  • The Senate will convene at 10:00 a.m.
  • Following leader remarks, the Senate will resume consideration of the motion to proceed to S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, with the time until 11:00 a.m equally divided between the two leaders or their designees. 
  • At 11:00 a.m, the Senate will VOTE on cloture on the motion to proceed to S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. 
  • Following disposition of the cloture motion, the Senate will VOTE on confirmation of Executive Calendar #536, Terry A. Doughty, of Louisiana, to be United States District Judge for the Western District of Louisiana.
  • Following disposition of the Doughty nomination, the Senate will resume consideration of the motion to proceed to S. 2155.
  • The Senate will recess from 12:30 p.m to 2:15 p.m to accommodate the weekly policy lunches.
  • Note: all time during recess, adjournment, morning business, leader remarks, and the Doughty nomination will count post-cloture on the motion to proceed to S. 2155.

 

Senator McConnell: (10:10 a.m)

  • Spoke in tribute to Senator Thad Cochran.
    • "Senator Thad Cochran's retirement will mark a tenure marked by a steady, honorable leadership. From the day he arrived in this chamber, his focus has been squarely on serving the people of Mississippi with integrity. For nearly four decades, he did exactly that. And he earned the admiration and gratitude of countless friends and colleagues along the way."
  • Spoke on Dodd-Frank relief.
    • "Community bank compliance costs have risen to an average of 24% of net income. This regulatory burden crowds out the capital that is available to American families and small business, especially in rural communities. According to researchers at the Harvard Kennedy School, community banks provide over 50% of all small business loans and nearly 80% of agricultural loans. In Kentucky, for example, there are more than 100 community banks and more than 20 credit unions. Many of them are the only financial institutions present in rural and underserved communities. But while Dodd-Frank supposedly took aim at too big to fail, in the first four years after it passed, the share of U.S deposits in small banks shrunk by nearly a quarter."
  • Spoke on tax reform.
    • "In recent years, tight budgets have forced too many families to forgo investing for the future in order to cover today's expenses. Recent estimates suggest that two-thirds of Americans do not, do not contribute to a 401(k). A lack of retirement savings can seem like an abstract concept for young workers, but for some senior citizens, it becomes a harsh reality. While the poverty rate for Americans under 65 has decreased since 2015, it has increased among those 65 and older. Tax reform is already helping remedy a part of the problem. Many companies and small businesses alike have announced plans to reinvest tax reform savings in their employees' retirement accounts."