Kennedy, Thune

Motion to Proceed to the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)

Senator Kennedy: (12:21 p.m)

  • Spoke on Dodd-Frank relief.
    • "That means that at this point in time in at least 15 communities in my state, folks do not have access to a bank or to a credit union. For Louisianans living in these banking deserts, getting a check or a savings account may be little more than a pipe dream. Now, I'm not suggesting to you, Mr. President, that everything in Dodd-Frank was misguided. I think we had a handful of institutions that precipitated in part the meltdown in 2008, and Dodd-Frank regulates those institutions, but not every institution is a financial institution, particularly a community bank and a small credit union should be lumped in with the larger financial institutions."


Senator Thune: (12:36 p.m)

  • Spoke on tax reform.
    • "Carters is giving bonuses, boasting retirement funds, tax reform positive for farmers, ranchers, express scripts, giving employees bonuses following impact from tax law, Franklin savings bank to give employees a $1,000 bonus, cites tax reform, sprouts will give tax reform bonuses, north Carolina blue cross, tax cut will hold down rate increases, workers to gets $1,000 bonuses. Hormel is to give employees stocks. I could go on. These are headlines that are highlighting the ways in which tax reform is benefiting American workers. Businesses large and small are seeing the benefits of tax reform and they are passing them on."