Congresswoman Bynum Introduces Amendments to Protect Families From Harmful Reconciliation Bill
Washington, DC – Congresswoman Janelle Bynum (OR-05), a member of the House Financial Services Committee, introduced five amendments during the committee’s markup on Republicans’ reconciliation bill. Republicans are threatening to include massive cuts to key programs, including Medicaid in reconciliation.
All five of her amendments were voted down by Republicans on the committee. Rep. Bynum released the following statement after the markup:
“I’m focused on lowering costs and protecting American families – Republicans’ reconciliation bill does the opposite. The bills we reviewed today pull the rug out from student borrowers, remove key safeguards for consumers, fail to protect retirees’ life savings, and do nothing to lower costs.
“That’s why I introduced five amendments that actually address the issues that families, students, retirees, and consumers are facing day-to-day. Republicans can put as many trash bills in front of me as they want, but I’ll always fight back for Oregonians.”
The amendments introduced by Rep. Bynum are as follows:
- An amendment to require the CFPB retains current funding levels for the purpose of ensuring student borrowers are protected;
- An amendment to protect funding for implementing guidance on how payment consumer protections apply to new and emerging digital platforms.
- An amendment to prohibit CFPB rollbacks and funding cuts from taking effect until the Department of Treasury certifies within 30 days that fees and other financing costs will be reduced for every consumer financial product;
- An amendment to delay transfer of the Public Company Accounting Oversight Board until the U.S. Security and Exchange Commission can certify that retirement savers will not be exposed to greater financial reporting risks, and;
- An amendment to require the Board of Governors of the Federal Reserve System to conduct a study on the impacts United States tariffs have on the cost of goods and services.
Background:
Congresswoman Bynum is the first freshman from Oregon to be appointed to the House Financial Services Committee in 28 years, and she serves on both the Capital Markets and Housing & Insurance Subcommittees.
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