Media Center
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, made the following remarks at the meeting held by the Financial Institutions and Consumer Credit Subcommittee on legislation which would fundamentally alter the structure of the new Consumer Financial Protection Bureau before it even opens for business July 21st.
“It’s kind of sad, somehow, that we’re here doing this today,” Maloney said. “With so many still trying to recover from the economic crisis, here we are debating measures to “improve” the Consumer Financial Protection Bureau.
“These measures are sponsored by some who opposed the CFPB’s creation last year, and thus are re-litigating the past—before there is any indication of any actual problems caused by this new agency—we are in fact conducting this debate less than three months before the agency even opens its doors!
"The announcement by the President was a truly historic moment after one of the most tumultuous decades in modern times.
"It comes as welcome news to those who lives were ripped apart by attacks of 9-11. As we approach the 10th anniversary of that terrible day, this is also a solemn moment to reflect and remember. Nearly 3,000 men women and children died in New York City alone, due directly to orders issued by Osama Bin Laden. His death will help bring a measure of closure to our city and it represents the end of a chapter in a larger story still be written.
"There is more healing that must take place, more rebuilding that must be accomplished, and there are many still struggling to fully recover.
"But tyrants are falling in the Middle East and freedom has made progress. And with this announcement I can hear my city breathing a sigh of relief."
I support responsible deficit reduction. The issue is not whether we reduce the deficit, but how and when we do so.
Most economists agree that major budget cuts during a recovery have the effect of delaying a full recovery from recession. The world’s economies are all struggling with the recession, and Japan is also coping with natural and nuclear disaster. Here at home, Americans are struggling with the spike in gasoline costs—with no indication of when or if those costs at the pump will recede.
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) today issued the following statement on the 2011 Continuing Resolution voted by the House:
This continuing resolution, which sets spending for the remainder of fiscal year 2011, is far better than the original H.R. 1 proposed by the majority, but the $38 billion in cuts fall on a too-small portion of the budget-- and that small portion impacts New York City too much.
