Author: Editor

Congressman Emmer’s Statement on the 2018 Election Cycle

Otsego, MN – Today, Congressman Tom Emmer announced he is seeking reelection to represent the people of Minnesota’s Sixth Congressional District in the U.S. House.

“I appreciate the support and encouragement I’ve received over the past few months to run for governor or senator, however, I look forward to continue representing Minnesota common sense and the Midwest values of the people of my district in Congress,” stated Congressman Emmer.

Emmer will be supporting his fellow republicans for federal and statewide offices to continue the momentum of the 2016 election.

“As Deputy Chairman of the National Republican Congressional Committee [NRCC], I will be working hard to retain the Majority in the U.S. House of Representatives this November.  In Minnesota, we have great Members like Erik Paulsen and Jason Lewis who we need back in Washington.  We also look forward to getting candidates like Jim Hagedorn and Pete Stauber to join them in the next Congress.  In addition, with both U.S. Senate seats, the Minnesota House, governor and all of the other state constitutional offices on the ballot, 2018 will be an opportunity for republicans to post major electoral gains and turn Minnesota red, ” observed Emmer.

“Under the leadership of Chairman Stivers, the NRCC set a fundraising record for a non-election year with $85 million raised and $44 million on hand. We will use those resources to turn out American voters who support our pro-growth agenda of getting the federal government out of the way,” said Emmer, who was also recently picked to chair the March Dinner, the NRCC’s largest national fundraising event of the year.

Congressman Emmer was first elected to the U.S. House in 2014 and won re-election in 2016 by 31 points.  He is a Member of the Financial Services Committee, and also a Member of the Republican Deputy Whip Team and the House Republican Steering Committee.

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WSJ : Lawmakers Seek to Ease Mortgage-Disclosure Rule for Small Lenders

This article on H.R. 2954, the Home Mortgage Disclosure Act, was published in the Wall Street Journal, January 12, 2018. Read the full article here.

Excerpts:

The legislation would allow a significant proportion of community banks and credit unions to escape reporting requirements that came into effect this month. The new requirements fall under the Home Mortgage Disclosure Act, a law enacted in 1975 to curb discrimination against minority borrowers.

The bill introduced by Rep. Tom Emmer (R., Minn.) has a good chance of becoming law because a broad Senate financial-deregulation bill, introduced in November with bipartisan support, includes a similar provision. Mr. Emmer said he expected a few House Democrats to support his bill.

The bill is expected to cover roughly a quarter of the U.S. mortgage market, Mr. Emmer said in an interview.

“These thresholds will still require the Wells Fargos, Bank of Americas and JPMorgans of the world to report data but it will provide relief to little guys, community banks and credit unions,” he said.

Financial institutions, particularly community banks and credit unions, have complained about new disclosure requirements, citing compliance costs and data-security concerns.

Specifically, the legislation would expand the exemption to lenders that originate fewer than 500 closed-end mortgage loans in each of the two preceding calendar years, up from 25 loans currently. The threshold for open-end home-equity lines of credit would be raised to 500 loans a year from 100 loans currently.

A Huge Gift – as Promised

Since 1986, Americans have been forced to stand idly by as government took more and more of our hard-earned dollars.

Thankfully, this week, we said “no more.” I am happy to announce that Congress passed and the President signed the first significant tax reform in more than three decades.
Read More

Another Step Taken for Mining

During the Obama Administration, Americans became accustomed to executive overreach and un-elected bureaucrats meddling in our daily lives. Minnesota was not exempt.  On their way out the door, the previous administration took actions detrimental to the future of our great state and mining exploration in Northern Minnesota.

All Minnesotans know of the “Iron Range” and how important mining is to our state’s history, as well as our economy and education funding. Thankfully, the Republican majority in the House of Representatives recognized that importance, and today, we passed the MINER Act, which I was proud to lead. Read More

Putting the Middle-Class First

I am happy to announce that today, for the first time in 31 years, the House of Representatives passed the first significant tax reform. Since 1986, Americans have been forced to stand idly by as our state and local governments took more and more of our hard-earned dollars.

Thankfully, today, the House of Representatives said no more.

After numerous conferences, meetings, committee hearings and public debates, we were able to pass major tax reform that puts American families and the middle-class first.

The final product isn’t perfect but gets us started and overhauling an archaic and overly burdensome tax code. And most importantly, Congress listened to the American people and made changes that were demanded.

But, we need your help to get it over the finish line. The Tax Cut and Jobs Act still has to pass the Senate, and as we saw with health care, that’s easier said than done. We cannot let the hard work of the house die in the Senate once again. So, in the coming weeks, let your Senators hear from you. Write them emails and call their offices, place letters to the editor in your local papers, and make your voice heard.