I. This week’s votes on the floor, hearings, and markups

Each week I get the opportunity to represent you in Congress by: 1) voting on legislation that comes to the House floor; and 2) participating in committee hearings and markups for the Committee on Financial Services. 

Key House Floor Votes

Santa Cruz Valley National Heritage Area Act
On Wednesday, September 23rd, I voted against H.R. 324 Santa Cruz Valley National Heritage Area Act because it negatively impacts property rights. When a piece of land is designated as a federal heritage area, federal officials may use zoning and land use planning to block off areas for energy development and restrict how private and commercial property owners utilize their property without notice or warning. Furthermore, the area designated as a heritage area in this bill includes a large part of the border where major drug and human trafficking occurs. Many members (myself included) fear the new designation will interfere with the U.S. Border Patrol’s ability to patrol the border.

Energy & Water Appropriations Act
On Thursday, October 1st, I voted against H.R. 3183 Energy & Water Appropriations Act. Although it increases spending by less than 1% from FY ’09, it increases spending over FY ’08 by more than 8%. Moreover, when added to the money energy and water development related agencies received in the 2009 stimulus package, funding for those agencies increased 180% over the last two fiscal years.

Committee on Financial Services

Financial Regulatory Reform: Treasury’s Perspective
On Wednesday, September 23rd, the full Committee held a hearing entitled “The Administration’s Proposals for Financial Regulatory Reform.” Testifying before the Committee was Treasury Secretary Tim Geithner. 

Financial Regulatory Reform: Federal Regulator Perspectives
On Wednesday, September 23rd, the full Committee held a hearing entitled “Federal Regulator Perspectives on Financial Regulatory Reform Proposals.” Testifying before the Committee were: Sheila Bair, Chairman of the FDIC; John Dugan, Comptroller, Office of the Comptroller of the Currency; John Bowman, Acting Director of the Office of Thrift Supervision; and Joseph Smith, Jr., North Carolina Commissioner of Banks on behalf of the Conference of State Bank Supervisors.

Systemic Risk and Resolution Issues
On Thursday, September 24th, the full Committee held a hearing entitled “Experts’ Perspectives on Systemic Risk and Resolution Issues.” Among those testifying before the Committee were, Paul Volcker, former Chairman of the Board of Governors of the Federal Reserve System; Mark Zandi, Chief Economist, Moody’s Economy.com; and Arthur Levitt, former SEC Chairman.

Audit the Federal Reserve
On Friday, September 25th, the full Committee held a hearing entitled “H.R. 1207, the Federal Reserve Transparency Act of 2009.” Testifying before the Committee were Scott Alvarez, General Counsel of the Board of Governors of the Federal Reserve and Thomas Woods, Jr. of the Ludwig von Mises Institute.

Consumer Financial Protection Agency: Perspectives from Unions, Public Interest Groups & Bankers
On Wednesday, September 30th, the full Committee held a hearing entitled “Perspectives on the Consumer Financial Protection Agency.” Testifying before the Committee were representatives from: NAACP; National Council of La Raza; Center for Responsible Lending; SEIU; The Heritage Foundation; Independent Community Bankers of America; U.S. Chamber of Commerce; American Bankers Association; and American Financial Services Association.  

Financial Regulatory Reform: Federal Reserve Perspective
On Thursday, October 1st, the full Committee held a hearing entitled “Federal Reserve Perspectives on Financial Regulatory Reform Proposals.” Testifying before the Committee was Federal Reserve Board Chairman Ben Bernanke. 

II. Purple Heart Event in the 24th

I will be hosting a recognition ceremony for Veterans who have earned the Purple Heart award on Sunday, November 8th.  The event will be held in Grapevine. For more information, Purple Heart recipients or their family members should contact John Hayes in my district office at (972) 556-0162.

III. Great Quotes in History

“Democracy does not guarantee equality of conditions - it only guarantees equality of opportunity.”
-Irving Kristol (1920-2009), philosopher and public intellectual

“Whether in chains or in laurels, liberty knows nothing but victories.”
-Douglas MacArthur (1880-1964), Supreme Commander of the Allied Powers

I am honored to represent the 24th District of Texas, and appreciate your interest in my e-newsletter.  Please contact my District or DC office with any further questions you may have or visit my website at www.marchant.house.gov. You can also become my Facebook friend here or follow me on Twitter at http://twitter.com/RepKenMarchant.