Senator John N. Kennedy (R-La.): Community Banks And Small Businesses Are Being Unfairly Made Victims Of Big Bank Failures
Feb 15 2017
WASHINGTON, D.C. – This week, Senator John Kennedy demanded answers from Federal Reserve Chairwoman Janet Yellen on why community financial institutions are being burdened with regulations that make it hard for small businesses to borrow money.
“If community banks were not the cause for the financial crisis in 2008, then why are they bearing some of the regulatory burdens from Dodd-Frank?” asked Senator Kennedy. “Many parts of Dodd-Frank apply to community banks, so the water is not 12 feet deep but 10 feet deep but you can still drown in 10 feet of water.”
Named after sponsors U.S. Senator Christopher J. Dodd and U.S. Representative Barney Frank, the Dodd-Frank Wall Street Reform and Consumer Protection Act, most often referred to as 'Dodd-Frank,' was passed in 2010 as a response to the financial crisis in 2008. Dodd-Frank's purpose was to place major regulations on the financial industry that caused the breakdown of the markets.
U.S. Senator Kennedy (R-La.) Questions Federal Reserve Chairwoman Janet Yellen on Slow Economic Growth
Feb 15 2017
WASHINGTON, D.C.”Today in the Senate Committee on Banking, Housing, and Urban Affairs, Senator John N. Kennedy (R-La.) questioned Federal Reserve Chairwoman Janet Yellen on the slow economic growth that our country has been experiencing since the financial crisis is 2008.
“Can we agree that 1.9% growth is not acceptable to most Americans? …I think we can agree on that,” said Senator John Kennedy.
Watch more of Senator Kennedy's remarks here:
“I had a productive and informative meeting with Judge Neil Gorsuch this evening to discuss his recent nomination to the Supreme Court. We used this time to get to know each other better personally as well as professionally,” said Senator Kennedy. “I look forward to continuing our discussions about his judicial philosophy, the decisions he has authored, and his views on the U.S. Constitution. As a member of the Judiciary Committee, I believe that the American people deserve a full and fair vetting of the next Supreme Court Justice and look forward to the rest of the confirmation process.”
WASHINGTON, D.C. – U.S. Sen. John Kennedy (R-La.) and Gov. John Bel Edwards met with senior HUD officials last week to identify federal restrictions that are making it more difficult for Louisiana's flood victims to rebuild.
“Gov. Edwards and I met with HUD officials to continue work on ironing out the problems that are arising with the rebuilding process,” Sen. Kennedy said. “It was a productive meeting, and we will continue to work together until every home and business impacted by the March and August floods is rebuilt.”
The issues discussed included:
- The necessity of conducting environmental reviews of homes repaired with disaster funding through community development block grants.
- Amending the requirement that 70% of CDBG dollars benefit low to moderate-income residents. The governor is proposing lowering this to 50%.
- Giving homeowners and business owners more time to apply for the reimbursement of money they spent to rebuild immediately after the disaster before federal aid arrived. Currently, the application process shuts off a year from the disaster.
- Allowing flood victims to repay their Small Business Administration loans with block grants.
U.S. Sen. John Kennedy (R-La.) issued the following statement today:
“Today, I urged the White House to approve Gov. Edwards' request for President Trump to declare an expedited major Presidential Disaster Declaration for the state of Louisiana following the devastating tornadoes. The tornadic activity impacted multiple parishes, including areas still recovering from last year's flooding. The communities of New Orleans East, Killian and Donaldsonville sustained the worst damage. Our state and local governments incurred tremendous expenses responding to the tornadoes and saving lives. Homes and businesses have been reduced to piles of debris. No one can recover from Mother Nature's wrath alone, and I am confident that the nation will help us rebuild.”
Feb 08 2017
WASHINGTON, D.C. – U.S. Sen. John Kennedy (R-La.) is cosponsoring important constitutional amendments that will deliver true reform to taxpayers.
S. J. Res. 2 will create true term limits by limiting members of the House to three terms and members of the Senate to two terms. S. J. Res. 2 was introduced by U.S. Sen. Ted Cruz (R-Texas).
“Term limits keep politicians honest and hard at work by giving them a deadline,” Sen. Kennedy said. “If you know your time on Capitol Hill is limited, then you're going to wake up early every day to accomplish as much as you can. Our constituents want true reform, and term limits are the way to deliver it.”
Sen. Kennedy also will cosponsor a balanced budget constitutional amendment that will force Congress to go on a spending diet by requiring the federal government to live within its means unless extraordinary measures are met. To protect taxpayers' pocketbooks, a two-thirds vote would be required on tax increases and federal spending could not exceed 18 percent of the U.S. gross domestic product.
Feb 01 2017
WASHINGTON, D.C. - U.S. Sen. John Kennedy (R-La.) issued the following statement today in support of Neil Gorsuch for the next associate justice of the United States Supreme Court:
“The role of the Senate is to provide 'advice and consent.' Many Americans are going to have to live with this Justice the rest of their natural lives. His decisions will affect many facets of their lives, economically, socially, culturally, and spiritually,” said Sen. Kennedy. “The American people deserve a full and fair vetting process. I like what I see so far, but look forward to learning more in the confirmation process. Neil Gorsuch is obviously very well-qualified based on his education and background, but I want to know what's in his heart. I want to know what he thinks about past Supreme Court decisions and how the Justices reached those decisions. I want to know whether he thinks personal preferences have a role in the judicial decision-making. I want to know if he knows the name of the person who cleans his office. Also, I'm rather fond of the U.S. Constitution, and I want to make sure he is, too.”
U.S. Sen. John Kennedy (R-La.) issued the following statement today in support of the March for Life rally:
"Earlier this week, President Trump took action to ensure that our federal dollars don't support abortions abroad. This was an important step that espouses what I have always believed. Human life is precious. With strong leadership and peaceful rallies such as March for Life, we will serve as a voice for the unborn and bring an end to abortion in the U.S."
Sen. Kennedy is co-sponsoring two pieces of legislation that protect life. The “No Taxpayer Funding for Abortion Act” (S.184) would establish a permanent prohibition on taxpayer funding for abortions. The “Life at Conception Act” would establish once and for all that life begins at conception and guarantee unborn children constitutional protection under the 14th Amendment.
Next week, Sen. Kennedy will be co-sponsoring two additional pieces of legislation that promote conservative values important to our Louisiana families. The first would overturn an Obama administration rule that forces states into funding Planned Parenthood. The second would permanently ban federal funding to Parent Parenthood and redirect the dollars to other health care clinics.
The President of the United States
The White House
1600 Pennsylvania Avenue, NW
Washington, DC 20500
Dear Mr. President:
For decades, the energy industry operating in the Gulf of Mexico has produced more than 90 percent of our domestic offshore oil and natural gas. Louisiana has been at the forefront of this work. However, the unelected bureaucracy within President Obama's administration created an agenda that has left America's domestic energy production at a significant competitive disadvantage. Within the past two years alone, more than 140 rules and regulations directly impacting the oil and gas industry have been issued, in many cases with little to no public input. As a result, reports show that Louisiana alone has lost over 25,000 jobs in the past two years. With your leadership, we can change this situation and bring back those good paying jobs, which is the purpose of my letter to you today.
Last summer, the Bureau of Ocean Energy Management (BOEM) at the Department of the Interior published a Notice to Lessees (NTL 2016-N0l) that sets new standards for financial assurance and bonding requirements. These new requirements mandate unreasonable increases in capital for companies attempting to obtain offshore leases, which will inevitably bankrupt smaller operators and encourage larger ones to relocate. The current proposal is simply unworkable and creates a financial strain on companies with unresolved questions. I respectfully ask you to direct BOEM to rescind NTL 2016-N0l and have it work with industry leaders, both large and small, to develop an appropriate solution.
As you said last Friday in your inaugural address, "We've enriched foreign industry at the expense of American industry..." That couldn't be more true with regard to our energy sector and, specifically, the application of this Notice to Lessees. It's time that policies from unelected bureaucrats with extreme viewpoints be swept away so that we can put the American people back to work and make us less dependent on energy from the Middle East.
Thank you for your leadership. I look forward to working with you to advance the American people's agenda.
United State Senator
U.S. Sen. John Kennedy (R-La.) today issued the following statement on a revocation notice by the U.S. Customs & Border Protection (CBP) that will benefit Louisiana companies and Louisiana workers in the offshore oil and gas industry.
"This decision will get Louisiana mariners back to work by restoring the proper treatment of U.S.-built vessels crewed by U.S. citizens in the Gulf of Mexico," said Sen. Kennedy. "The offshore industry is a lifeblood to Louisiana. We need to close loopholes that benefit foreign workers at the detriment of Louisiana mariners. I look forward to working with President Trump on this issue, and I applaud the CBP for taking a positive step that will benefit the lives of many Louisiana families."