How much does it cost?
January 28, 2011 | CFPB, CFPB Nomination, Elizabeth Warren, federal legislation | Comments (0)Two Congressmen want to know. From the story:
Two U.S. House Republicans are asking financial regulators to project how much it will cost to implement the new Dodd-Frank financial overhaul law, taking aim at what they see as an unnecessary expansion of government.
Rep. Spencer Bachus (R., Ala.), chairman of the House Financial Services Committee, and Rep. Randy Neugebauer (R., Texas) sent a letter Friday to Federal Reserve Chairman Ben Bernanke, Treasury Secretary Timothy Geithner and other regulators asking them to provide an estimate of law’s related costs for the next two fiscal years.
The lawmakers, who along with most Republicans opposed the Dodd-Frank law last summer, also asked the regulators to estimate how many new federal jobs are being created as a result of the law.
“It is our responsibility to ensure that mandates are not overly burdensome or wasteful of taxpayer money,” they wrote, requesting a response by Feb. 10.
Comments»
No comments yet.