WASHINGTON, D.C. – This week, Congressman Blaine Luetkemeyer (MO-03), lead Republican on the House Small Business Committee and the Subcommittee on Consumer Protection and Financial Institutions sent a letter to President Joe Biden urging his Administration to avoid excessive regulation and government overreach similar to the Obama Administration, especially during America’s continued economic recovery. Excerpts and the link to the full letter can be found below. 

“As you have stated numerous times, a strong economic recovery is a top priority of your administration. As the Ranking Member of the House Committee on Small Business and the Ranking Member of the Subcommittee on Consumer Protection and Financial Institutions, I share your goal of a robust economic recovery and cannot stress enough the importance of getting small businesses and their employees back to work.”

“To ensure a strong economic recovery, I urge you and your administration to commit to a consistent, transparent, and fair regulatory framework. Under the Obama Administration I witnessed financial regulators repeatedly enforce regulatory guidance as law and recklessly use enforcement actions to intimidate and harass businesses, and state and local governments. Unfortunately, the Obama administration even used the financial supervisory regime to try and blacklist entire industries they disagreed with politically.”

“As you begin to fill key positions in your administration, I am hopeful you will take this into consideration and ensure your administration, specifically the financial regulators, adhere to the appropriate rules outlining effective governance and maintaining the balance of power between the executive and legislative branch. In my positions on the committees of jurisdiction, I will be closely watching all regulators to ensure they do not abuse the power you bestow upon them, and I will diligently fulfill my responsibility to conduct proper oversight of the executive branch.”