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Foxx Report
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This week Speaker Ryan announced the arrival of “A Better Way,” the policy agenda that House Republicans have been constructing all year. Taking a bottom-up approach, committee-led task forces have been holding idea forums to take input and ideas from all Republican members in order to develop this bold, forward-looking agenda that tackles six big challenges: national security; the economy; tax reform; health care; poverty; and constitutional authority.
On Tuesday we revealed our plan aimed at lifting people out of poverty and onto the ladder of opportunity. On Thursday we unveiled our initiative to keep all Americans safe and secure in their lives, defeat terrorists overseas and respond to the new and emerging threats that face our country. The remaining planks of the agenda will be introduced in the weeks to come. For more information, visit better.gop.
Examining the Consequences of the Obama Administration’s Overtime Rule
On Thursday the House Committee on Education and the Workforce held a hearing to examine the consequences of the Department of Labor’s controversial overtime rule. Witnesses testified about the negative impacts the rule will have on workers, students, nonprofits and small businesses.
Unelected Washington bureaucrats have harmed the employees they claim to support by removing flexibility in the workplace, which could lead to cutting the pay or limiting the hours of workers. Regulators also have ignored the concerns of employers that their regulations will make it more difficult for hardworking Americans to operate their businesses and provide career advancement opportunities for their employees.
Puerto Rico
Puerto Rico, a territory of the United States, borders on full scale economic collapse. The Puerto Rican government has amassed over $118 billion in debt in the form of bonds and unfunded pension liabilities. The government is increasingly incapable of fulfilling basic services to its citizens as quality of life worsens.
This week the House passed legislation to bring solvency to Puerto Rico without any American taxpayer bailout whatsoever. It includes the creation of an Oversight Board with the authority to impose fiscal responsibility, obtain audited financials and enforce balanced budgets. The bill institutes government and economic reforms to promote growth and ensure the Island meets its credit obligations. It also creates a framework for orderly and comprehensive negotiations and voluntary settlements between debtors and creditors. As the debate over this legislation progressed, I was very pleased to see a solution found that puts no taxpayer funds at risk and does not set a precedent that federal taxpayers could be on the hook for states with poor fiscal controls.
What’s Coming Up
Next week the House will consider the FY 2017 Defense Appropriations Act and the Preventing IRS Abuse and Protecting Free Speech Act.
Sincerely,
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