GOP Replacement for Dodd-Frank Financial Rules Passes House
- via Washington Examiner

House Republicans voted Thursday to replace the 2010 Dodd-Frank law with their own sweeping financial regulatory measure, the Financial Choice Act.

Authored by Rep. Jeb Hensarling of Texas, the conservative chairman of the House Financial Services Committee, the bill is perhaps second only to the healthcare legislation Republicans passed last month in its scope and significance. Like the healthcare bill, it would undo one of Obama's top legislative achievements, the new rules imposed on the financial sector in the wake of the 2008 financial crisis. Republicans justify the bill on the grounds that the regulations are holding down economic growth.

A main feature of the legislation would be an offer to banks: If they maintain a significantly higher level of capital, they would receive additional regulatory relief — the choice for which the bill is named. Higher capital means less indebtedness and more funding through ownership stakes. The idea is that requiring higher capital would reduce the likelihood of a bank collapsing and also institute more market discipline because owners have more skin in the game. Read more here...

Watch House Ways & Means Committee Chairman Kevin Brady Discuss the Need for Fundamental Tax Reform

FreedomWorks Book Club Spotlight: "Written Out of History: The Forgotten Founding Fathers Who Fought Big Government" by Sen. Mike Lee

In "Written Out of History," Senator Mike Lee tells the story of liberty's forgotten heroes. In this incredible book, you'll learn the true stories of founders such as Aaron Burr, Mercy Otis Warren, and Canasatego. Read about the limited government advocates that secured our liberties, and how they've been all but erased from history. Get your copy here...

FreedomWorks Book Club Spotlight: "Drain the Swamp: How Washington Corruption is Worse Than You Think" by Ken Buck

In "Drain the Swamp," Congressman Ken Buck is blowing the whistle on the real-life House of Cards in Washington. Votes going to the highest bidder, lavish parties, ruthless arm-twisting, and so much more. Read about the real side of Washington that you only hear about in the latest Hollywood political drama. Get your copy here...

Help Us by Taking This Important Survey on the Conservative Movement
We need your help in order to understand the fundamental ways that the Tea Party movement has transformed American politics. We are asking you to fill out this survey in order to provide a valuable profile of your activities, beliefs, and their successful efforts in reorienting the American political system.

In order to fully represent the movement as a whole, it is crucial that we receive surveys from a wide range of FreedomWorks members, both those who just have casual involvement as well as those who are activists in the movement. This independent study is completely voluntary and totally anonymous. Just enter the ID Code 6C8LM9 where asked and you're on your way!

Your input is incredibly valuable and helps us make freedom work. Take the survey here!

ALEC-FreedomWorks Legislator of the Week
- via ALEC

Senator Bob Onder, M.D., is a native of St. Louis, Missouri. Sen. Onder is currently serving his second term representing the 2nd District of the Missouri State Senate. He received his B.S. and his M.D. from Washington University in St. Louis, and his J.D. from St. Louis University School of Law. Prior to his entry into politics, Sen. Onder worked as a medical doctor who is board certified in Allergy and Immunology as well as in Internal Medicine, a practice which he continues today.

Prior to his election to the state Senate, Sen. Onder served one term as a State Representative for the 13th District of the Missouri House from 2007-2008. In 2014, he was first elected to the state senate. In 2015, his first year in the senate, he was elected Assistant Majority Floor Leader, and received numerous awards from local organizations, notably the Missouri Chamber of Commerce’s Freshman Legislator of the Year, Missouri Century Organization’s Legislator of the Year and “Champion of Freedom” by the Missouri Alliance for Freedom. Read more here...

The Progressive Era

Judge Andrew Napolitano explains how the progressive era was marked by a huge expansion of the federal government and its power to regulate the states and individual behavior. The Sixteenth Amendment to the Constitution, authorizing the federal income tax, gave the government increased control over our hard-earned money; and the Seventeenth Amendment, providing for popular election of senators, removed an important obstacle to federal control of the states. Watch it here...


Sen. Mike Lee: Trump's Decision to Kill the Clean Power Plan Put Pr...
- by Sen. Mike Lee via Deseret News

As soon as President Trump killed the Clean Power Plan back in March, he also functionally killed the Paris Accord. Both actions, contrary to the lamentations of our liberal elite, are fantastic news for the American people.

According to The New York Times, President Obama’s Clean Power Plan would have “closed hundreds of coal-fired power plants” and “frozen construction of new plants.” Since coal provides approximately 40 percent of America’s electricity, and 75 percent of Utah’s, these new regulations would have raised electricity costs, sending shockwaves through the U.S. economy.

Consumers would have been forced to pay more to cool and heat their homes, leaving less to spend on groceries and mortgages. Businesses would have been forced to raise prices, lower wages or invest less in order to pay their higher power bills. As a result, NERA Economic Consulting estimated that the Clean Power Plan would have cost the U.S. economy over $40 billion annually. Read more here...

Reverse Obama's Net Neutrality Power Grab
- via The American Conservative

The Federal Communication Commission’s (FCC) recent vote to begin the process of undoing an Obama-era power grab is the right solution for putting consumers—not lobbyists and lawmakers—in the innovation driver’s seat.

On May 18, the FCC voted to begin the process of rolling back a 2015 policy in which the FCC decided it possesses the legal authority under the Telecommunications Act of 1934 to regulate internet service providers (ISPs) using rules intended for phone companies. The rules, commonly referred to as “net neutrality,” were initiated by former FCC Chairman Tom Wheeler, who served under President Obama.

By getting government out of the business of telling ISPs how to run their servers, current FCC Chairman Ajit Pai is working hard to undo net neutrality, putting consumers back in charge of how the internet—and the businesses responsible for building and maintaining the countless millions of internet connections and switches powering the internet—should operate. Read more here...




For Freedom,

Jason Pye
Director of Public Policy, FreedomWorks

 

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I am so happy to see so much that Obama did to damage this country being reversed! Woohoo

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