My Votes – Week of April 9th

Apr 13, 2018
Votes

My Votes – Week of April 9th

RULE BILLS

**A rule bill is a bill passed through a full House vote under a rule that has been voted and agreed upon by the Rules Committee. Rule bills require a simple majority of the House to pass (218 votes) through a recorded vote.

Result and Date Bill # Bill Title My Vote What it means for you and your family
4/12/18

FAILED

233 – 184 (Constitutional amendments need 2/3 of votes to pass)

H.J.Res. 2 Balanced Budget Amendment Yes Families across the country sit down at their kitchen tables every month and make tough decisions to balance their budget so that they can make ends meet. Just like American families, the federal government should spend within its means. A Balanced Budget Amendment, which requires a two-third majority in both chambers of Congress to pass, is a needed and important mechanism to restore fiscal discipline. I’m disappointed that Democrats decided to block this amendment.
4/11/18

PASSED

297 – 121

H.R. 4061 Financial Stability Oversight Council Improvement Act Yes Dodd-Frank authorized the Financial Stability Oversight Council (FSOC) to determine if the material financial distress of a nonbank financial company could pose a threat to the financial stability of the United States. If it is deemed a Systemically Important Financial Institution, or SIFI, it becomes subject to heightened supervision and regulation by the Fed. The effects of such a designation are felt directly in Main Street America – for example, American households saving for college and retirement would see their costs rise and investment returns fall if a mutual fund was designated as a SIFI due to the increased costs. This bill reforms this designation process to enhance transparency and procedural fairness; the bill affords affected institutions a greater opportunity to be heard by its regulator, which could, in turn, result in declassifications that would save investors money.
4/11/18

PASSED

245 – 174

H.R. 4293 Stress Test Improvement Act Yes Not only is stress testing expensive to implement and resource intensive, but it has become a process by which the Federal Reserve and bank compliance officers try to outwit one another without rules or transparency. This has resulted in lower rates of return for investors without corresponding benefits or protections. This legislation streamlines the stress testing process to make it less onerous for nonbank financial institutions like investments funds, which will result in better returns for main street investors saving for college or retirement.
4/13/18

PASSED

300 – 104

H.R.4790                 Providing for consideration of the bill (H.R. 4790) to amend the Volcker rule to give the Board of Governors of the Federal Reserve System sole rulemaking authority, to exclude community banks from the requirements of the Volcker rule, and for other purposes, and providing for motions to suspend the rules Yes The Volcker Rule in Dodd-Frank sought to address activities that had nothing to do with the financial crisis, preventing make U.S. bank holding companies from doing certain types of business.  This has resulted in increased borrowing costs for businesses, lowered investment returns for households, and reduce overall economic activity. This bill will streamline the Volcker Rule to provide certainty and relief to community banks, like those in Eastern Washington who provide access to capital for our small businesses, home-buyers, and others.

 

SUSPENSION BILLS

**A suspension bill is a bill passed by the House through suspending the rules to move quickly, circumventing the House Rules Committee. Suspension bills are typically less controversial pieces of legislation, and as the rules are being suspended, they require a higher threshold, two-thirds of those voting in the House, to pass. Additionally, these bills are often passed by a voice vote, without a formal roll call vote.

Passage Bill # Bill Title My Vote What it means for you and your family
PASSED

4/10/18

408 – 2

H.R. 2219 End Banking for Human Traffickers Act of 2018 Yes  
PASSED

4/10/18

409 – 2

H.R. 4203 Combat Online Predators Act Yes  
PASSED

4/10/18

H.R. 4925 FRA Safety Data Improvement Act   Passed by voice
PASSED

4/10/18

H.Res. 128 Supporting respect for human rights and encouraging inclusive governance in Ethiopia   Passed by voice
PASSED

4/10/18

H.R. 4921 STB Information Security Improvement Act   Passed by voice

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