Archive for January 2012

Johnson, Shelby Announce Mark up of Bipartisan Public Transportation and Iran Sanctions Bills

WASHINGTON – Recently, Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Richard Shelby (R-AL) released the following joint statement announcing the Committee’s intention to mark up the public transportation portion of the next surface transportation reauthorization bill and the Iran Sanctions, Accountability and Human Rights Act of 2012.  Senators Johnson and Shelby have reached an agreement on a framework for both bills and expect to release details of the proposals next week. The expectation is that the markups will be held on Thursday, February 2, at 10:00 A.M. in the Senate Banking Committee hearing room (SD-534).

“On February 2, we intend to move forward with a markup of two bipartisan bills we have been working on together for the past few months.  We have worked closely with our colleagues on the Committee to incorporate many of their proposals, and we are hopeful these two bills will clear the Committee with overwhelming bipartisan support and be taken up by the full Senate quickly.

“The two-year surface transportation bill will reflect our commitment to preserving current funding levels and focusing investments in the nation’s aging transit infrastructure.  Additionally, we will improve public transportation through much needed reforms such as improving safety oversight, eliminating earmarks, as well as speeding the construction of public transportation projects.

“We must continue to do all we can – diplomatically, politically, and economically – to counter the growing threat from Iran’s illicit nuclear program. Our sanctions legislation will complement and reinforce ongoing international efforts led by the US and send another very clear signal to Iran’s government of what’s in store if they continue to defy the will of the international community.”

Johnson Comment on Recess Appointment of Richard Cordray

WASHINGTON – Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement in response to the White House’s announcement that President Obama will recess appoint Richard Cordray to be the first director of the Consumer Financial Protection Bureau.

“With Richard Cordray leading the Consumer Financial Protection Bureau, Americans will finally get the consumer protections they deserve. Mr. Cordray is eminently qualified for the job, as even my Senate Republican colleagues have acknowledged. As Banking Committee Chairman I look forward to working with Mr. Cordray and the CFPB as he moves forward on implementing long-overdue consumer financial protections for all Americans.”

“It’s disappointing that Senate Republicans denied him an up-or-down vote, especially when it’s clear he had the support of a majority of the Senate.”

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