U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate Floor Monday regarding The Middle Class Tax Relief and Job Creation Act, which would extend temporary tax relief to working Americans, prevent more job losses by blocking new regulations on U.S. manufacturers, and facilitate the creation of tens of thousands of new jobs through the construction of the Keystone XL pipeline.

U.S. Sen. David Vitter appeared on CNBC's "Squawk on the Street" to outline the changes he and more than 40 of his Senate colleagues are demanding prior to a confirmation vote on Consumer Financial Protection Bureau nominee Richard Cordray.

Without reform, the Consumer Financial Protection Bureau's director would be unaccountable to Congress or the American people and oversee a budget that is not subject to congressional oversight. Months ago, Republicans sent the president a letter explaining their concerns about this lack of transparency and accountability in an agency that is supposed to be protecting consumers. Now the president has nominated a director for this agency without making any effort to respond to Republicans' concerns. No director should take over the CFPB until these serious structural concerns are addressed and the agency is made accountable to the American people.