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The Capitol Connection

A fifth-generation Wisconsinite, Dave grew up in a family business, seeing firsthand the barriers to success big government places in front of small business. Hired out of college as an aide to Congressman Paul Ryan, Dave worked the next nine years helping Ryan advance the cause of limited government and the free enterprise system - while also holding a job in the private sector. Elected to represent the 83rd Assembly District in a special election in May of 2011, Dave has fought alongside Governor Walker to put Wisconsin's economy back on track, balancing the budget for the first time in over a decade, enacting concealed carry legislation and helping lead the fight against ObamaCare in Wisconsin. Before his election, Dave also served in various leadership positions in his church and also served on the Village of Big Bend Board of Trustees. In his free time, Dave enjoys spending time with his family, hunting and bowfishing. Dave and his wife, Amy, make their home in the Town of Vernon with their five children.

Financial Industry Feels Impact

Dodd-Frank Act

This past Wednesday the Assembly Committee on Financial Institutions, which I chair, held its first meeting on the state of Wisconsin’s financial institutions. Invited guests included Department of Financial Institutions’ Secretary Peter Bildsten, the Wisconsin Bankers Association, the Wisconsin Credit Union League and the Community Bankers of Wisconsin. Those present at the meeting were optimistic about the role the committee will be taking in the Right the Rules project, and testified to the strength of Wisconsin’s banking system. However, it quickly became apparent that there was an 800 pound gorilla in the room - THE FEDERAL GOVERNMENT. Below is a picture of just a small fraction of the new rules created by the 2010 Dodd-Frank Act, the federal law that Nobel Laureate economist Gary Becker described as a “complex, disorderly, politically motivated, and not well thought out reaction to the financial crisis”. As the Wisconsin Bankers Association pointed out, the federal government is only halfway through creating their rules to enforce Dodd-Frank, and yet Wisconsin’s financial institutions are already feeling the pinch.

We in the Assembly Committee on Financial Institutions will be addressing our regulatory burden this coming session. Should President Obama be serious about creating jobs, he would be wise to do the same.


Best regards,
Dave
 

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