Crapo, Brown Request Proposals to Foster Economic Growth

WASHINGTON – Today, United States Senate Committee on Banking, Housing and Urban Affairs Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) announced a process for soliciting legislative proposals to increase economic growth.

“Ranking Member Brown and I have designed an orderly process for consideration of proposals that will help consumers, market participants, and financial companies responsibly participate in the economy in a more effective and efficient manner,” said Chairman Crapo. “We welcome input from all interested stakeholders to that end.”

“After seeing the impact of the financial crisis on Americans, I look forward to proposals that will create real economic growth and jobs, and help reverse years of stagnant wages and widening inequality,” said Ranking Member Brown.

The Committee will collect proposals from Monday, March 20 to Friday, April 14. The submissions should clearly identify three to five priority proposals that will promote economic growth and/or enable consumers, market participants and financial companies to better participate in the economy.

Each discrete proposal should include the following:
·         Brief description of the proposal;
·         Impact on economic growth;
·         Impact on the ability of consumers market participants and financial companies to participate in the economy;
·         Legislative language; and
·         Other background material as appropriate.

Stakeholders are requested to submit electronic copies of their proposals to Committee staff at submissions@banking.senate.gov.