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Rep. Graves Fights for America’s Kids and Grandkids on House Floor

Washington, July 18, 2018 - Yesterday, Rep. Tom Graves (R-GA-14) spoke on the House Floor in support of his fiscal year 2019 Financial Services and General Government Appropriations Act (H.R. 6258), which includes the Fund for America's Kids and Grandkids. The Fund functions like a savings account for future generations, as the money in the Fund is protected and cannot be spent until the Treasury certifies that the budget is balanced or there is a surplus. Rep. Graves cut $585 million – or 2.5 percent – from across his bill to make an initial deposit.

Click HERE or the image below to watch Rep. Graves’ remarks.

Below is a key quote from Rep. Graves’ remarks.

If your district is anything like mine, you know the American people are frustrated. They're frustrated with Congress and they're frustrated with this out-of-control spending. They see our annual deficits fuel our dangerous national debt. It's time to try something different and that's what we've done. Because if we don't, we'll stay stuck in this fiscal death spiral that we're in. After a lot of thought and effort, we came up with a very creative way to protect funding from being spent…We came up with something different, and we created a new fund in this bill called the Fund for America's Kids and Grandkids, which safeguards funds for America's future generations.

Click HERE to read more about the Fund for America’s Kids and Grandkids.

Additional Bill Highlights:

• Includes more than 20 bipartisan financial reform bills that passed the House during the 115th Congress with overwhelming bipartisan support.

• For the first time, this bill directly appropriates the Bureau of Consumer Financial Protection, which will finally subject it to congressional oversight and accountability.

o It also includes recommendations from BCFP Director Mick Mulvaney for reforming the Bureau, including providing independent IG authority, requiring Congressional approval of any new rules or regulations, and the allowing the president to terminate the director at-will. 

• Provides sufficient funding to ensure full implementation of the Tax Cuts and Jobs Act.

• Protects life:

o Maintains provisions prohibiting federal and local funds from being used for abortion. 

o Maintains a prohibition on federal funds from being used for needle exchanges and the supervised consumption of any Schedule I substances in the District of Columbia.

 o Prohibits funds for the DC Death with Dignity Act and fully repeals the local legislation.

 o Prohibits funds for enforcement of DC Reproductive Non-Discrimination Act.

• Prioritizes law enforcement, homeland security and cybersecurity.

o Fights the opioid epidemic by increasing funding for the High-Intensity Drug Trafficking Areas (HIDTA) program and for other federal drug control programs. 

 o Beefs up the Treasury Department’s Office of Terrorism and Financial Intelligence.

 o Strengthens the Treasury Department’s Financial Crimes Enforcement Network.

 o Funds the Treasury Department’s Cybersecurity Enhancement Account.

 o Updates IT systems across the federal government through the Technology Modernization Fund.

Click HERE to read the full bill.

The bill is supported many industry groups and policy organizations, including:

• National Taxpayers Union
• Committee for a Responsible Federal Budget
• U.S. Chamber of Commerce
• Investment Company Institute
• American Bankers Association
• Independent Community Bankers of America
• National Association of Federally-Insured Credit Unions
• Credit Union National Association


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