While fights over health care and tax reform have captured the spotlight, President Donald Trump and the Republican Congress have spent 2017 methodically unraveling regulations of the previous administration that affect broad swaths of the American economy.
Half of Missouri’s Congressional delegation has a seat at the table for that deregulation. Republican Reps. Ann Wagner and Blaine Luetkemeyer, and Democratic Reps. William Lacy Clay and Emanuel Cleaver all serve on the House Financial Services Committee, an epicenter of Trump-era regulatory rollbacks.
Many of those rollbacks are aimed at Dodd-Frank reforms put in place after the 2008 financial crisis. On one day in mid-November alone, the committee passed 23 separate financial-related regulatory rollbacks.
Republicans say that it’s a necessary pendulum swing away from President Barack Obama’s “nanny state” and that their work already has boosted the economy.
Democrats warn that the GOP is risking environmental degradation and a return to the lax regulations that led to the 2008 financial crisis.
Read more: St. Louis Post-Dispatch