I was appointed by Speaker Boehner to serve as Co-Chair on the 12-member Joint Select Committee on Deficit Reduction (JSC). The JSC is a unique organization created by the Budget Control Act of 2011 and charged with issuing a formal recommendation on how to reduce the deficit by at least $1.5 trillion over the next ten years. The Committee is comprised of six Democrats and six Republicans – three members of each party from the Senate, and three members of each party from the House. The Committee's bipartisan recommendation will receive an up-or-down vote in Congress before December 23, 2011.
I serve as the Vice Chairman for the House Financial Services Committee. In my role on the Committee, I have been a staunch advocate for protecting consumer’s rights and their access to credit products. I have also fought to encourage competition in the lending market to increase choices and lower costs for consumers, as well as combat financial fraud and enhance disclosure notices. I have vigorously opposed taxpayer bailouts for failed financial companies and efforts to give government greater control over individual personal financial decisions.
I was one of three House Republicans appointed by then House Republican Leader John A. Boehner to serve on the 18-member National Commission on Fiscal Responsibility and Reform. This panel, created by a presidential order, was charged with formulating recommendations to put the federal budget onto a sustainable path. The Commission was comprised of six members from the House of Representatives, six Members from the United States Senate, and six members appointed by President Obama. On the Commission, I fought to ensure that we stop spending money we do not have, borrowing 40 cents of every dollar we spend, and sending the bill to our children and grandchildren.