Republican jobs bill aims to repeal Dodd-Frank

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House Republicans on Monday again rejected President Donald Trump’s push to use their tax bill to repeal a critical piece. The Tax Cuts and Jobs Act, the legislative centerpiece of Trump’s economic.

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The Choice Act, the product of years of work from Financial Services Committee Republicans, is not quite a repeal of Dodd-Frank, but it overturns its most. from Congress he says is necessary to do.

Congress passed legislation Tuesday to revise parts the dodd-frank financial reforms that were enacted in 2010. The bill headed to President Trump’s desk, however, is not the sweeping replacement that he and congressional Republicans sought. Instead, it’s a bipartisan, modest change of some of the rules, mostly benefiting regional and smaller banks.

 · Thirty-three Democrats supported the legislation, while one Republican opposed it. Although the bill took a more cautious approach to relief than prior legislative proposals favored by House Republicans to repeal Dodd-Frank, banking industry groups at.

In response, therefore, the Financial choice act aims to repeal about 40 provisions of Dodd-Frank. The main objectives of the new bill include allowing banks to opt out of Dodd-Frank if they hold enough cash, as well as limiting federal stress tests of major banks to once every two years.

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June 2 (Reuters) – The U.S. House of Representatives will vote on a broad bill to reform and repeal portions of the 2010 Dodd-Frank financial reform law next week, according to a top Republican official. majority leader kevin mccarthy announced Friday that the House will consider the Financial CHOICE Act in the coming days.

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A jobs bill introduced by Republican Senators Thursday aims to cut individual and corporate taxes along with repeals of major regulations, including the Dodd-Frank Act.

 · GOP targets Dodd-Frank financial regulation.. aiming to reshape or repeal single measures, as opposed to the entire law.. The $59.7 billion Republican-drafted bill is.

 · Financial Industry Thumbs Up. After the House vote, the bill will now go to the Senate. But the fate of the bill is not clear. In an interview last month with Bloomberg News, Senate Majority Leader Mitch McConnell played down the chances that any changes to the Dodd-Frank Act would gain bipartisan support in that chamber.

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