Learn more about Dan Moody.
Learn more about Dan Moody.
Send the Prepaid Card Rule to the Shredder
By Sen. David Perdue (R-GA) and Rep. Roger Williams (R-TX)
Before the Obama Administration turned over the keys to President Donald Trump, agency regulators used and abused their rulemaking authority to dole out hundreds of new federal government rules. So it wasn’t surprising when a rogue government agency, spawned from the 2,300-page Dodd-Frank Act, followed suit.
Last October, the Consumer Financial Protection Bureau, or CFPB, issued its 1,689-page Prepaid Card Rule. It is a sweeping rule that would upend an entire sector of our economy, stifle innovation, and deprive consumers of access to credit.
Through the Congressional Review Act, we’ve led the charge against this rule in the House and Senate. The regulators have noticed. Last week, the CFPB caved and threw a Hail Mary, announcing a delay in the implementation timeline.
For consumers and businesses alike, this is welcome news, but we can’t stop fighting to prevent it from ever coming to pass.
The 1,689-page Prepaid Card Rule is billed as a consumer protection measure, branded with the tagline, “Know Before You Owe.” While that may be a catchy tagline, it is nothing more than a smokescreen for federal overreach.
Many businesses, including mobile payment apps, pushed back on the CFPB. Due to the diverse array of financial products that would be affected by this rule, their concerns varied, but each business cited the real impact this rule would have on innovation.
We have already seen shortsighted and overreaching regulations cripple community banks and credit unions. If the Prepaid Card Rule comes to pass, similar effects will happen to alternative financial services. Just as the former hinders small businesses’ ability to access credit, the latter will stifle innovation in a budding sector of our economy.
Even more concerning are the consequences for consumers.
The more the rule has been studied, the higher compliance estimates have grown. It’s now estimated that the Prepaid Card Rule would cost hundreds of millions of dollars. This added expense would force prepaid card companies to exit the marketplace or pass down these costs to consumers, many of whom cannot afford to participate in our traditional banking system.
Due to rising checking account fees and minimum balance requirements, some 68 million Americans have turned to prepaid cards and accounts to manage their day-to-day financial needs. These consumers, who simply want to manage their finances at a low-cost rate, cannot afford a sweeping new rule that would impose higher costs.
Ultimately, the Prepaid Card Rule is just another example of a rule that hurts the very people it intends to protect.
Fortunately, we’ve been given a moment of opportunity to undo regulatory damage, and in this case prevent it altogether. The Congressional Review Act (CRA) is a wonky term for a potent tool to protect American consumers from federal overreach.
Multiple CRAs have already been signed by Trump, rolling back Obama-era regulations and protecting Constitutional rights. We are using the CRA concurrently in the House and Senate to push for an end to the Prepaid Card Rule before it can even begin to harm consumers.
The CFPB’s desperate delay is a sign that our efforts are working, but we will not be deterred from intervening to ensure this sweeping rule does not disrupt a growing, key sector of our economy.
Legitimate oversight over the financial sector is important, but when measures that could hurt up to 20% of Americans are unveiled by an agency that itself has no oversight, it is the responsibility of Congress to rein in any power grab.
Read the full op-ed at Forbes.
It’s with great gratitude that I’m writing to you in support and commendation of U.S. Sen. David Perdue. In a day and age where true servant-leadership is hard to find, I couldn’t be more thankful that our senator, David Perdue, is an incredible exception to the worrisome political landscape.
Since taking office two years ago, Perdue has truly put the people’s best interests firsts, working on behalf of Georgians and Americans with the utmost integrity and character. He has provided explanations for his voting record, upheld the promises he made during his campaign, and fought for legislation that will better the lives of Georgians. As a member of the Senate Armed Services Committee, Perdue is working to increase communication and coordination between all levels of government to bolster our defense systems. Just last week, Perdue announced a new bipartisan legislation that will improve cyber security for local and state governments, demonstrating that he is engaged and working to address relevant challenges we are facing.
Perdue is trustworthy, sincere, and hard-working, and as Georgia’s Republican national committeewoman, I couldn’t be more grateful and proud to be able to call him one of our leaders. He has done his best to vote and represent the people of our state with transparency and determination, and I’m confident of the good things his office will continue to do for Georgians in the years to come.
Read the full letter at The Northside Neighbor.
I’m very concerned about what both the media and protestors are saying about Sen. David Perdue. I’ve known David for 50 years. We met when we were students at Northside High School in Warner Robins. He is the same person now as he was then. He is a caring and compassionate man of principle. He’s always willing to listen and lend a helping hand to those in need. He loves this state of Georgia we’re blessed to call home and he loves the United States of America.
We live in a time where too many politicians only care about themselves. David Perdue is not one of them. He has not and will not run from tough questions. He will always listen and he will always do what he thinks is right for our state and the United States. I hope the folks who are spending so much time ridiculing Perdue will take the time to look at how he’s standing up for us in the Senate and how he’s never forgotten where he came from.He is a good man and I wish we had more people like him in Congress.
Read the full letter at The Macon Telegraph.
Confirm Judge Neil Gorsuch
By Sen. David Perdue (R-GA)
President Donald J. Trump promised the American people he would nominate an unwavering supporter of the United States Constitution to the Supreme Court. He has now kept that promise.
After recently meeting with him, it is abundantly clear that Judge Neil Gorsuch is an outstanding choice to serve on the United States Supreme Court.
Throughout his career, Judge Gorsuch has been a stalwart defender of the Constitution. He has repeatedly shown his commitment to our country’s founding principles of economic opportunity, fiscal responsibility, limited government and individual liberty.
These principles have served to make our nation exceptional throughout our history.
Judge Gorsuch has led a remarkable career in both the public and private sectors, and has demonstrated a keen understanding and appreciation of the law. He has impeccable academic and judicial records, and is a mainstream judge who knows his role is to interpret the law, not make the law
I have no doubt that Judge Gorsuch will honor Justice Scalia’s formidable, impressive legacy of interpreting the Constitution based on the original intent of the Founding Fathers.
Throughout last year, I and other members of the United States Senate held our ground in saying that no nominee to the Supreme Court should be confirmed until after the presidential election.
We gave the American people a voice in the process. We knew that the hyper-partisanship and politics of a presidential election cycle should never have any place in the nomination and confirmation of a Supreme Court justice, a lifetime appointment.
The integrity of the advice and consent process, clearly spelled out in Article II, Section 2 of the Constitution was at stake.
In protecting the integrity of this sacred Constitutional process, we did our job. Now that President Trump has announced his nomination, it’s time to continue doing our job.
I hope that Democrats will not follow the obstructionist tactics they have already displayed this year, especially considering 11 of them, including Leader Schumer and Judiciary Committee Ranking Member Feinstein, supported Judge Gorsuch when he was unanimously confirmed to the 10th Circuit Court of Appeals.
Last June, Minority Leader Chuck Schumer tweeted, “In order for justice to remain a pillar of this nation, we must have a functioning judicial branch. The Supreme Court of the United States must have nine justices.”
Later that same month, Minority Leader Schumer also said on the floor of the United States Senate, “Every day that goes by without a ninth justice is another day the American people’s business is not getting done.”
Yet last month, Minority Leader Schumer went on CNN and said, “We absolutely would keep the seat open … we will fight it tooth-and-nail, as long as we have to.”
Minority Leader Schumer and other Democrats announced their opposition before President Trump even announced a nominee.
The political theater of 2016 had no place in the confirmation process last year. Now is the time to govern, not to engage in the far off political theater of 2018 and 2020.
Republicans put aside political games to confirm two justices to the Supreme Court under both President Obama and President Clinton.
Now, President Trump has nominated Judge Neil Gorsuch, a principled judge who will put the Constitution of the United States, and the rights of all Americans, at the forefront of any decision he makes.
Judge Gorsuch’s record of service, and his commitment to the Constitution and the rule of law, is quite clear. I’m looking forward to voting to confirm his nomination and to ensuring we have a fully functioning Supreme Court.
Perdue: Trump admin ready to roll
By Brendan Kirby
A bullish Sen. David Perdue (R-Ga.) said Thursday that President-Elect Donald Trump is ready to hit the ground sprinting, with a Cabinet stocked with some of the most experienced executives ever.
Speaking on “The Laura Ingraham Show,” the first-term senator said the men and women chosen for the top eight Cabinet posts have a combined 83 years of experience in executive roles in large organizations. The comparable total for President Obama’s top eight Cabinet secretaries was five years.
“The difference is plain to see, and the desperation [among Democrats] is pretty obvious for most Americans,” he told LifeZette Editor-in-Chief Laura Ingraham.
Despite intense opposition among Democrats to some nominees, Perdue said he expects the Senate to confirm all Trump’s picks.
“The votes are there,” he said. “The quality of these people shows. This is nothing more than a distraction.”
Perdue said he is eager to get to work reversing Obama’s “failed legacy” but warned that Republicans should view their grip on power as a probationary period.
“This is no mandate up here,” he said. “We have got to break the gridlock … and we’ve got to get some heavy lifting done.”
Perdue said Congress should move swiftly to repeal the Affordable Care Act and replace it with a patient-centered health system.
“And then move on to the tax issue and get this economy going,” he said. “Job one for this president, as he’s said over and over, is to get this economy going, get people to work again.”
Perdue also blasted Obama’s controversial decision to cut short the prison sentence handed down to Chelsea Manning for leaking hundreds of thousands of classified documents.
“This guy lives in a different universe,” he said.
Perdue noted that Obama has issued a record number of commutations during his presidency and has moved to release or transfer terrorists held at the U.S. detention facility in Guantanamo Bay, Cuba.
“This president has released drug traffickers, terrorists, and now traitors,” he said.
Far more consequential than the 1,385 prisoners whose sentences have been commuted are the 47,000 federal prisoners who will get out early under rulings by the U.S. Sentencing Commission reforming drug sentencing guidelines, Perdue said. He added that represents half of all federal inmates serving drug trafficking sentences and a quarter of the total federal prison population.
“The next 24 hours can’t happen quick enough for me, Laura,” he said.
Former Georgia Governor Sonny Perdue has been nominated by President-elect Donald J. Trump to serve as our next Secretary of Agriculture.
This is great news for the entire agriculture community. I could not be more proud. Sonny’s background as Georgia’s Governor – the first Republican in 135 years – along with his career as a Doctor of Veterinarian Medicine and his extensive experience in agriculture easily make him the best choice for this important position.
Barack Obama’s regulatory regime made life harder for farmers, ranchers, and rural areas across the entire country. It’s time for us to get to work on undoing the damage. Sonny is ready to get to work on day one.
Sonny and I are first cousins and growing up together, I witnessed firsthand Sonny’s tireless work ethic and commitment to putting common-sense agriculture policies into action. He did a great job as Governor – digging our economy out of a serious recession – and I know he will be successful in this new role.
Sonny and I are both excited about this enormous moment of opportunity to change the direction of our country. With a new leader in the White House who is surrounding himself with many outstanding individuals from the private sector, just like Sonny, I am very hopeful we can make America great again.
Reflections on 2016, Resolutions for 2017
By Senator David Perdue
In 2016, the American people voted to change the direction of our country. They elected a new president and vice president. They returned Republican majorities to Congress with a two-year probation period to show we can deliver results.
This election cycle and its outcome were a loud message to the Washington establishment. In 2017, it’s my resolution to continue working to ensure that message translates into real results.
That means keeping our promises and making tough decisions.
For the last seven years, Georgians and Americans across the country struggled to cope with the worst economic recovery since the Great Depression. It’s time for bold changes that will get our economy growing again, and get Americans working again. The policy prescriptions of the Obama years failed.
President-elect Donald J. Trump’s first 100 days in office are an enormous moment of opportunity to begin turning the page.
We need to put patients in charge of their health care choices with a free-market solution that increases access and lowers the overall spiraling costs of health care, which Obamacare did nothing to address.
We need to undo the regulatory regime and scale back the power of unelected bureaucrats. Let’s start with the EPA’s onerous Waters of the U.S. Act and Clean Power Plan, things we know are crushing farmers, land owners, and small businesses right here in Georgia.
We need to begin dramatically reforming and simplifying our tax code. We can start by doing away with the repatriation tax, which has locked trillions of dollars in overseas profits out of our economy.
We also finally need to unleash our full domestic energy potential, starting with simply approving the Keystone XL Pipeline, something both President-elect Trump and the Republican majorities in Congress support.
Both political parties are to blame for both the crisis we face today and Washington’s lack of results. The lessons of 2016, and the failures of the last seven years, must not be forgotten in 2017.
In 2017, politicians in Washington must be ready to say “we cannot afford it.” The national debt surpassed $19 trillion earlier this year. Unless we change course, it will rise to nearly $30 trillion over the next decade. The debt crisis is here, and we must not wait any longer to acknowledge and deal with that economic reality.
In 2017, we have to restore America’s role as a global leader. President Obama’s failed foreign policy created a void of American leadership. Largely as a result, the world is more dangerous than it has ever been in my lifetime. We have to develop a real strategy to defeat ISIS and deal with the multitude of threats we face from all corners of the globe.
In 2017, we need to advance conservative ideas and principles. We will nominate and confirm a judge to the Supreme Court. Whomever he or she will be, they must stand steadfast in support of the United States Constitution and our founding principles of economic opportunity, fiscal responsibility, limited government and individual liberty.
This is not about securing the legacy of another career politician. The American people demanded real change in the way Washington does business. Come January, an outsider businessman who is listening to the people will be in the White House.
That’s just the first step. President-elect Trump is surrounding himself with a dream team of policy experts, many of whom have spent their careers outside of the Washington bubble.
You elected me to do all I can to change the direction of our country. Working with President-elect Trump and his capable team, we now have an enormous moment of opportunity to really begin doing so. I’m excited to get to work.