Loebsack Statement On HR 37

dave loebsack updated“I strongly support the Volker rule and agree that we must work so that it remains as strong as possible. However, included in the Promoting Job Creation and Reducing Small Business Burdens Act, HR 37, was a fix to Dodd-Frank that had an economic impact on farmers and rural Iowans and supported the future of Iowa’s rural economy. I therefore held my nose and supported the first version of HR 37. Since then, I urged the agriculture focused provisions to be decoupled from the provisions weakening the Volker rule. Recently, the agriculture provisions were fixed and I no longer support HR 37. Yesterday, [Wednesday] when the most recent vote on HR 37 occurred, I was traveling with President Obama in Cedar Falls, had I cast a vote, I would have voted against this legislation.”

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