Thank you to those who have been asking why I voted for the Swap Regulatory Improvement Act (HR 992). I admit to being confused when I read your e-mails, tweets and Facebook posts, because I believed that I had voted “no” on that bill.
I asked the Clerk’s office to research the vote and I was informed that I had in fact voted “yes.” This was contrary to how I had intended to vote.
I talked to people on both sides of this issue whose opinions I respect and ultimately decided that making this change before the regulatory process was completed is premature. My vote should have been recorded as a “no” and I will be placing the following statement into the Congressional Record as soon as the House of Representative reconvenes.
Thank you again to those who pointed this out to me, so that I could correct this mistake.
Statement for the Record:
I wish to correct a vote I made on Wednesday, October 30, on H.R. 992, the Swaps Regulatory Improvement Act. I mistakenly voted for this legislation, when I intended to vote against it. I have a longstanding record of supporting robust banking regulations that protect taxpayers from risky trading activity. Significantly altering provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act before those reforms have been fully implemented is premature. I wish to clearly state for the record that I did not intend to vote for this legislation, and I look forward to continuing working for strong banking protections for the American people.