Feinstein, Cornyn

McConnell (for Crapo) Amendment #2151, as modified, to the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)

Senator Feinstein: (11:49 a.m.)

  • Spoke on Dodd-Frank relief.
    • "I simply cannot. I remember sitting in caucuses, hearing from our top financial officials about the potential for a total collapse of our economy. Treasury Secretary Timothy Geithner testified to the House Financial Services Committee, and I quote, our financial system failed to do its job and came precariously close to failing altogether. End quote. That is not an exaggeration, Mr. President, for those of us that were here, who listened to the economists, who heard what was happening, we feared a total collapse. And personal conversations I had with these economists carried the most dire warnings. We should never get close to that point again."


Senator Cornyn: (12:01 p.m.)

  • Spoke on gun control.
    • "The president strongly supports a bill introduced by the senior senator of Utah that would authorize funding for school safety improvements. You wouldn't think that would be controversial. But that school safety improvements include training efforts and school threat assessment and crisis intervention teams. This bill is called the Stop School Violence Act. We ought to pass it and we ought to pass it today. As Senator Hatch said last week, there's been little disagreement but a lot of discussion and debate and not much legislative process. To break the impasse, we must unite on the issues where we can't agree. I couldn't agree with Senator Hatch more. We must unite on the issues where we can agree."
  • Spoke on tax reform.
    • "That's the formal name of the comprehensive overhaul of our nation's tax code. The tax change we made, the change in the law doubled the standard deduction, meaning people earning - a married couple, the first $24,000 they earn they pay zero income tax on. It doubled the child tax credit. It lowered tax rates across the board. And for the first time in a long time, it made the United States more competitive when it comes to attracting investment and businesses around the globe."