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Speaker of the House Rep. Paul Ryan (R-WI) is planning to present his own version of modifying the Dodd-Frank Act as part of a new plan to change the federal regulatory environment.
According to a Bloomberg report, the Ryan plan is the third segment of a six-part policy agenda being offered by Republican legislators ahead of this year’s election. In addition to scaling back the depth and scope of the Dodd-Frank Act—which includes changes in the authority granted to the Consumer Financial Protection Bureau—the plan includes new proposed limits on lawsuits against businesses and the expansion of energy production on federal lands.
"The American people now spend $1.89 trillion every year just to comply with Washington’s rules—approximately $15,000 per household," said a 57-page report that is scheduled to be issued today by Rep. Ryan’s office. "From heath care and finance to manufacturing and energy, job creators spend more time jumping through hoops than expanding opportunities."