Warren Statement on CFPB Funding Cut in Republican Budget Bill
Washington, D.C. – United States Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement on the latest attempt by Donald Trump and Republicans to undermine the Consumer Financial Protection Bureau (CFPB). The new provision would see CFPB’s available operating budget go from 12% to 6.5% of the Federal Reserve System’s 2009 total operating expenses, adjusted for inflation.
“Donald Trump and Republicans tried to shut down the CFPB by gutting its entire operating budget to 0%. We fought back and won. Now, Senate Republicans will bring to the floor a proposal that slashes the agency’s available budget so they can hand out more tax breaks for billionaires and billionaire corporations. The CFPB has returned $21 billion to scammed American families – and Democrats will introduce an amendment on the floor to strip this out of the bill.”
###
Next Article Previous Article