Rep. French Hill on Dodd-Frank, Regulation, Tax Reform

The video discusses the 7th anniversary of the Dodd-Frank Act, highlighting its impact on the banking system, particularly on community banks and consumer choices. The Financial Choice Act is introduced as a solution to right-size regulations. The discussion also covers potential regulatory reforms, including oversight of the Consumer Financial Protection Bureau and clarifying the 'too big to fail' designation. The video concludes with a discussion on tax reform, emphasizing the need for a plan to enhance American competitiveness through territoriality and simplified tax rates.

What was one of the main criticisms of the Dodd-Frank Act as discussed in the video?

• It reduced the risk of banks being too big to fail.

• It made small banks more competitive.

• It increased financial choices for consumers.

• It led to larger banks becoming even bigger.

What is the purpose of the Financial Choice Act mentioned in the video?

• To merge small banks with larger ones.

• To eliminate all banking regulations.

• To right-size the regulatory approach for banks.

• To increase taxes on large banks.

Which area is NOT mentioned as a focus for legislative action on deregulation?

• Reducing taxes for large corporations.

• Tailoring regulations for community banks.

• Clarifying the 'too big to fail' designation.

• Increasing oversight of the Consumer Financial Protection Bureau.

What is a key component of the tax reform process discussed in the video?

• Raising tariffs on imported goods.

• Eliminating all international taxes.

• Simplifying and lowering tax rates.

• Increasing tax rates for families.

Why is territoriality important in the context of tax reform?

• It helps American companies be more competitive internationally.

• It simplifies the tax code for local businesses.

• It increases the tax burden on small businesses.

• It reduces the need for international trade agreements.