Published: Thursday, February 23, 2017 @ 10:51 AM
Updated: Thursday, February 23, 2017 @ 3:58 PM
By: Eric Schwartzberg – Staff Writer
Congressman Warren Davidson, R-Troy, came to a Greater Hamilton Chamber of Commerce Small Business Roundtable discussion geared toward small-business leaders and their concerns.
He tackled topics ranging from what can be done to protect the retirement accounts of consumers to the mounting challenges for small businesses to secure access to capital, as well as his vision in regard to The Dodd–Frank Wall Street Reform and Consumer Protection Act and other regulations.
Davidson said the Financial Choice Act, which was passed by the House of Representatives last year, didn’t fully undo Dodd-Frank.
“The spillover effects of Dodd-Frank and this one size fits all piece is small banks, which are a lot of times the easier source of small capital for small businesses, have been crowded out. There’s been no community banks launched in our district in three years, zero entrants into a very good market because of the cost of regulation,” Davidson said.
Davidson also touched upon the Republican mantra of “repeal and replace” President Obama’s Affordable Care Act, saying the narratives portraying Republicans as uncaring when it comes to health care are false.
“The Affordable Care Act could have been a bipartisan bill, (but) Democrats chose not to do that,” he said. “They went with zero Republican votes.”
There were three things Republicans almost uniformly agreed needed reformed when it came to the ACA, but couldn’t get Democrats to agree to a bipartisan bill, he said. Those three issues included coverage for pre-existing conditions, lifetime caps and coverage for taxpayers’ children up to 26 years old.
“Republicans say cover your students,” he said. “People that are either working — if they’re working they