“It is time to swing the pendulum back towards simple, sensible regulations.”

WASHINGTON, D.C. - U.S. Sen. John Kennedy (R-La.) spoke on the floor of the U.S. Senate this morning about the need to unburden community banks and credit unions from the weight of unfair regulations through the S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act.  Sen. Kennedy also offered an amendment to help consumers take charge of their credit reports and credit scores.

S. 2155 seeks to stop the damage that the Dodd-Frank law is inflicting on community banks and credit unions that are being punished for the 2008 financial crisis even though they were not responsible for it.  Dodd-Frank has driven community banks and credit unions out of business, made it difficult for many people to have checking accounts and stifled small business loans.  In Louisiana, Dodd-Frank has created banking deserts that are sending people to payday lenders and pawn shops for simple financial transactions.

Sen. Kennedy worked with Sen. Brian Schatz (D-Hawaii) to ensure that S.2155 goes even further in protecting consumers by addressing the problems with credit reports revealed by the Equifax security breach.  Their bipartisan amendment tasks the Big Three credit reporting agencies with creating a website for consumers to get free access to their credit information and easily opt out of third parties obtaining that data.

Click here or the photo below to watch Sen. Kennedy’s full speech. 

Dodd-Frank Damage: “It’s been almost eight years since Dodd-Frank took effect.  In that time, well over 1,700 community banks have consolidated, merged, or shut their doors forever.  That’s an average of one every three days.  In my state of Louisiana, out-of-control compliance costs have led to banks boarding up their windows.  That means that now, in at least 15 communities, folks do not have access to a bank or a credit union.”

Small Banks Help Communities: “Studies have shown that when a bank branch shuts its doors, on average, the number of small business loans made in that community falls by 13%.  The experts say that neighborhoods can take more than eight years to recover.  Now, multiply that by the 10,000 branches that have closed across this country and the figure is breathtaking.  It doesn’t take an economist to see that the ultimate costs of Dodd-Frank on our communities have been job losses and economic decline.”

Kennedy Protects Consumers: “I’ve been working closely with my colleague, Sen. Schatz, on a bipartisan amendment to protect consumers.  Americans shouldn’t have to spend months fighting to correct inaccurate information on their credit report when they didn’t consent to have it collected in the first place.  They shouldn’t be penalized because a credit reporting agency like Equifax can’t keep their data safe.  Our proposal would require that the “Big Three” credit reporting agencies work together to create an online portal that gives consumers free access to their credit report and credit score.”

Sensible Regulations: “I believe that it’s time to swing the pendulum back towards simple, sensible regulations, and the Economic Growth, Regulatory Relief, and Consumer Protection Act is a vital step in the right direction.  Dodd-Frank was like using a sledgehammer to go after a gnat.  All this reform package is suggesting is that we should try a flyswatter.”

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WASHINGTON, D.C. – U.S. Sen. John Kennedy (R-La.) issued the following statement today on Gov. John Bel Edwards’ special session:

“The state of Louisiana just paid $400,000 to out-of-state artists to turn stainless steel washers into a sculpture at the University Medical Center in New Orleans.  With spending priorities like that, it’s no wonder Gov. Edwards and Democrats are trying to swipe the pay raises and bonuses that Congress’ federal tax reform put into Louisiana families’ pockets,” said Sen. Kennedy.  “In this special session, they are gutting sensible spending reform proposals beyond recognition, are pushing to increase income taxes yet again and are attempting to unravel the income tax cuts accomplished by Congress.  That’s not ‘compromise’ or ‘bipartisanship.’  That’s absurdity.  When you’re spending $400,000 on a sculpture by out-of-state artists while standing at the edge of a so-called fiscal cliff, your budget crisis is just smoke and mirrors.  Louisiana doesn’t have a revenue problem; it has a spending problem. I hope conservatives in the Legislature will stand up and protect the pocketbooks of hard-working Louisiana families.”

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WASHINGTON, D.C. - U.S. Sen. John Kennedy (R-La.) urged Louisiana Governor John Bel Edwards to fly the flags at state buildings in Louisiana at half-mast Friday to honor the late Rev. Billy Graham.  Below is the text of the letter sent to Gov. Edwards:

March 1, 2018

The Honorable John Bel Edwards

Governor

State of Louisiana

P.O. Box 94004

Baton Rouge, Louisiana 70804

Dear Governor Edwards:

            The flags at federal government buildings will fly at half-mast Friday in honor of the late Rev. Billy Graham.  I respectfully request that the flags at state buildings in Louisiana also fly at half-mast Friday as the Rev. Graham is laid to rest in a coffin built by Louisiana inmates.

            I make this request not because the Rev. Graham was a man of faith, although he was a man of tremendous faith.  Rather, I make this request because the Rev. Graham was America’s conscience for generations of Americans and citizens of the world.  He broadened religious freedom across the globe, encouraged the integration of Little Rock Central High School and upheld America as a bastion of peace and democracy.  He was this nation’s greatest, unpaid ambassador.

So great was the Rev. Graham’s influence that he lied in honor this week in the U.S. Capitol.  He was one of only four private citizens given that great honor.  The last was civil rights leader Rosa Parks.

A fitting tribute would be to lower the state’s flags Friday in honor of this great American.

Thank you, Governor, for your consideration of this request.  

Sincerely,

John Kennedy

                                                            United States Senator

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WASHINGTON, D.C. - U.S. Sen. John Kennedy (R-La.) helped introduce Senate Joint Resolution 53 today honoring the Rev. Billy Graham after his passing at age 99.  The resolution passed this afternoon.  Earlier in the day, Sen. Kennedy paid his final respects to the Rev. Graham at the U.S. Capitol.

During his lifetime, the Rev. Graham preached to nearly 215 million people across 185 countries and territories and across six continents.  He provided spiritual counsel to presidents, prayed for our military and fought for racial integration.  His most powerful contribution, however, was boldly proclaiming the name of Jesus Christ to anybody who would listen.  

“The Lord truly blessed us by allowing the Rev. Graham to share his message for nearly a century.  As a young man, I was privileged to hear that message at one of the Rev. Graham’s great crusades in Baton Rouge,” said Sen. Kennedy.  “His message was simple: The only path to eternal salvation is through Jesus Christ.  The Rev. Graham lived out the Gospel message through his actions, his books, television broadcasts and speeches.  In troubled times of war and political unrest, he soothed us with reminders about God’s forgiveness and peace. I have every confidence that our Father will greet Rev. Graham with those cherished words from Matthew that we all long to hear:  ‘Well done, good and faithful servant’.”

The Senate Joint Resolution honors a remarkable life and extends sympathies to the Rev. Graham’s family.

Sen. Kennedy with the Rev. Billy Graham’s son, the Rev. Franklin Graham

Background Information

Senator John Kennedy joined Senator Richard Burr (R-NC), Senator Thom Tillis (R-NC), Senator Lamar Alexander (R-TN), Senator Roy Blunt (R-MO), Senator Tom Carper (D-DE), Senator Bill Cassidy (R-LA), Senator Thad Cochran (R-MS), Senator Bob Corker (R-TN), Senator Susan Collins (R-ME), Senator John Cornyn (R-TX), Senator Tom Cotton (R-AR), Senator Ted Cruz (R-TX), Senator Steve Daines (R-MT), Senator Mike Enzi (R-WY), Senator Joni Ernst (R-IA), Senator Deb Fischer (R-NE), Senator Cory Gardener (R-CO), Senator Chuck Grassley (R-IA), Senator Dean Heller (R-NV), Senator John Hoeven (R-ND), Senator Jim Inhofe (R-OK), Senator Ron Johnson (R-WI), Senator James Lankford (R-OK), Senator Claire McCaskill (D-MO), Senator Mitch McConnell (R-KY), Senator Bill Nelson (D-FL), Senator Rand Paul (R-KY), Senator David Perdue (R-GA), Senator Rob Portman (R-OH), Senator Pat Roberts (R-KS), Senator Marco Rubio (R-FL), Senator Tim Scott (R-SC), Senator John Thune (R-SD), Senator Pat Toomey (R-PA), Senator Mark Warner (D-VA), and Senator Roger Wicker (R-MS).

 JOINT RESOLUTION 

Honoring the life of William ‘‘Billy’’ F. Graham, Jr. 

Whereas William ‘‘Billy’’ F. Graham, Jr., was born on November 7, 1918, in Charlotte, North Carolina;

Whereas, in 1939, Reverend Graham was ordained by Peniel Baptist Church in Florida;

Whereas Reverend Graham studied at Florida Bible Institute and graduated from Wheaton College in Wheaton, Illinois, in 1943;

Whereas Reverend Graham married his wife of nearly 64 years, Ruth McCue Bell, in 1943;

Whereas Reverend Graham had 3 daughters, 2 sons, 19 grandchildren, and numerous great grandchildren;

Whereas, in 1950, Reverend Graham founded the Billy Graham Evangelistic Association, which is based in Charlotte, North Carolina;

Whereas Reverend Graham preached to nearly 215,000,000 individuals in more than 185 countries and territories on 6 continents;

Whereas Reverend Graham provided spiritual counsel for every President since Harry Truman;

Whereas Reverend Graham prayed with members of the Armed Forces in combat zones in South Korea and Vietnam;

Whereas Reverend Graham spoke against the communist Soviet Union, saying, ‘‘Communism has decided against God, against Christ, against the Bible, and against all religion.’’;

Whereas Reverend Graham—

(1) fought for racial integration;

(2) invited Dr. Martin Luther King, Jr., to preach

with him in New York City in 1957; and

(3) bailed Dr. Martin Luther King, Jr., out of jail

when Dr. King was arrested for protesting segregation;

Whereas, following the terrorist attacks on September 11, 2001, Reverend Graham spoke words of hope and comfort to the people of the United States at the Washington National Cathedral;

Whereas Reverend Graham authored 34 books, including the bestselling autobiography, ‘‘Just as I Am’’, which began by discussing his early days on a dairy farm in North Carolina and continued through his career as a preacher and evangelist; and

Whereas Reverend Graham received numerous honors, including—

(1) the North Carolina Award for Public Service;

(2) the Presidential Medal of Freedom;

(3) the Ronald Reagan Freedom Award; and

(4) the Congressional Gold Medal: Now, therefore,

be it

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled,

That Congress—

(1) extends its sympathies to the family of William ‘‘Billy’’ F. Graham, Jr.; and

(2) honors—

(A) the life and ministry of Reverend Graham; and

(B) the contributions of Reverend Graham

to—

(i) the State of North Carolina;

                                   (ii) the United States of America; and

(iii) the moral and religious lives of millions of individuals.

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