Congressman Scott Garrett

Representing the 5th District of New Jersey

Garrett Statement on Vote to Put Economic Recovery in the Hands of the American People

Feb 3, 2016
Press Release
House passes legislation from Garrett’s subcommittee to improve capital markets

WASHINGTON, D.C. – Rep. Scott Garrett (NJ-05), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement after the House passed H.R. 1675, the Capital Markets Improvement Act of 2016. The Capital Markets Improvement Act of 2016 is a package of legislation that passed through Rep. Garrett’s subcommittee with bipartisan support.

“New Jersey families are sick of the rhetoric about economic recovery when all they have to do is look around at their towns and their bank accounts to know it’s bogus. It has been over ten years since the United States had GDP growth of more than 3 percent and many middle and lower income families are still struggling to make it to their next paycheck. New rules in Washington after the 2008 economic collapse armed bureaucrats with more regulations that hurt investment and growth on Main Streets everywhere.

“Today the House passed legislation from my subcommittee that will help small businesses expand and hire new workers, and provide opportunities for Americans to create real wealth. This bipartisan bill includes no new federal mandates on small businesses, doesn’t throw taxpayer money at a bad situation, and doesn’t grow the federal government.  By loosening Washington’s grip and putting the American people in control of our economic recovery, everyone can get ahead.”