This week, Democrats continued our push to hold Wall Street accountable with common-sense rules of the road that protect taxpayers. The Wall Street reform bill making its way through Congress will help ensure that the crisis we faced in Fall 2008 can’t happen again. Wall Street’s bad choices and risk-taking devastated our economy and cost 8 million jobs – while Republicans helped create the crisis through policies that protected Wall Street instead of Main Street. The difference between the two parties is stark: Democrats are standing up for the middle class, while Republicans are working to water down protections for consumers. As Congress moves closer to final action on this legislation, I remain hopeful, however, that some Republicans will side with the middle class and join Democrats to bring accountability to Wall Street.
Democrats also remain focused on creating jobs and helping those who are still struggling in the wake of the economic crisis. While Democrats’ recovery policies are helping our economy get back on the right track, we know there is more work to do. Over the next few weeks I expect to bring additional legislation to the House Floor to build on the Recovery Act and the HIRE Act so that we keep creating jobs and strengthening the economy.
Finally, the House will consider the IMPROVES Acquisition Act next week, legislation that builds on our efforts to restore fiscal responsibility by reforming the way we buy things for our troops and military. It will save taxpayers billions of dollars, while ensuring that our troops have the equipment they need to accomplish their mission. Along with the President’s fiscal commission – which will meet for the first time next week – and the enactment of the pay-as-you-go law, defense acquisition reform shows how serious Democrats are about bringing our country back to fiscal balance.