Would the Senate banking bill boost economic growth?
April 10, 2018
The point of the Senate-passed bipartisan banking bill would be to boost economic growth. It’s right there in the name of the bill: The Economic Growth, Regulatory Relief, and Consumer Protection Act.
The Trump administration has long said that relief from the post-financial crisis Dodd-Frank rules and other bank regulations would be a key part of its plan to drive the economic growth rate above 3 percent.
Yet, the case that the specific provisions of the bill would increase growth hasn’t been the focus during debate. Instead, the bill’s Republican and Democratic bipartisan proponents frequently were forced to play defense as they moved it through the Senate, under attack from Sen. Elizabeth Warren, D-Mass. Warren and several other liberals bashed the bill as a giveaway to big banks.
The Washington Examiner asked some of the bill’s sponsors and backers, including major bank and credit union trade groups, how they would expect the bill to increase economic growth.