Tester’s Bipartisan Bill to Create Jobs and Spur Economic Growth Takes Major Step Forward

Legislation Will Provide Regulatory Relief to Community Banks and Credit Unions Across the Country

(U.S. Senate)—U.S. Senator Jon Tester’s bipartisan bill to create jobs and spur economic growth took a major step forward today.

Tester’s Economic Growth, Regulatory Relief, and Consumer Protection Act was passed by the Senate Banking Committee by an overwhelmingly bipartisan vote of 16-7.

“Last week with tax reform we saw how partisan Washington, D.C. can be,” Tester said during the markup. “I’m extremely optimistic today that we can break through all the nonsense and find common ground to do what’s right for small businesses and consumers across the country.”

Tester’s opening remarks as prepared for delivery are available HERE.

A fact check document related to the bill is available HERE.

A summary of the Economic Growth, Regulatory Relief, and Consumer Protection Act is available HERE.

The Economic Growth, Regulatory Relief, and Consumer Protection Act has received support from:         

• Janet Yellen, Federal Reserve Chair.
• Jerome Powell, Federal Reserve Chair nominee.        
• Cam Fine, CEO of the Independent Community Bankers of America.         
• Neil Bradley, Senior Vice President of the U.S. Chamber of Commerce.        
• James W. Tobin III, Executive Vice President of the National Association of Home Builders.        
• John Soroushian and Justin Schardin, Bipartisan Policy Center.         
• Elizabeth Mendenhall, National Association of Realtors