WASSERMAN SCHULTZ STATEMENT ON HOUSE GOP’S PLAN TO CRIPPLE DODD-FRANK

Washington, DC – U.S. Rep. Debbie Wasserman Schultz (FL-23) issued the following statement today after House Financial Services Committee Chairman Rep. Jeb Hensarling (TX-05) released the Financial Choice Act:

“House Financial Services Chairman Jeb Hensarling and Speaker Paul Ryan’s so-called “new” proposal is a dangerous policy that would decimate the Dodd-Frank Act and send us back to the policies that caused the 2008 financial crisis. Thanks to President Bush and House Republicans’ policies, hundreds of thousands of Americans lost their jobs, homes and savings. House Republicans’ “new” proposal would lead to the same Wall Street recklessness that hurt working families across this nation.

“Under President Obama and House Democrats, we have rebuilt our economy, including 75 straight months of private sector job creation – the longest streak on record. We still have work to do in ensuring everyone in America has access to the ladders of opportunity that support working families, but make no mistake: we are making great progress towards that goal. I was proud to be a part of the fight to pass Dodd-Frank, and I am ready to stand with House Democrats and working families against policies that would send us back to the Wild West of regulations that caused the 2008 financial crisis.”