Keeping promises: We must secure our border
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Last week, Congress faced a crucial decision with the Further Consolidated Appropriations Act, a $1.2 trillion spending bill. The bill drastically failed to meet the urgent needs of our nation, especially in fiscal responsibility and border security.
Our national debt exceeds $34 trillion, with an annual deficit of $1.7 trillion. Continuing on this path threatens our economic stability. Unfortunately, this spending bill exacerbates the problem by expanding government reach without curbing expenditure.
Equally alarming was the bill’s neglect of essential border security measures. This oversight compromises our national safety and ignores the ongoing crisis at our southern border, directly impacting Texas and our communities.
I voted against the bill due to its failure to address illegal migration and the crisis at our border. Texans cannot continue being burdened with the consequences of mass illegal migration. Despite supporting many national defense priorities, which will benefit Texas’s 17th District, the bill’s lack of comprehensive border security and failure to uphold conservative principles led to my decision.
As a co-sponsor and strong supporter of H.R. 2, the Secure the Border Act, I will continue to demand that Congress and President Biden restore the rule of law on our border.
Rest assured, I am committed to advocating for fiscal responsibility and secure borders. Our challenges are significant, but I am dedicated to ensuring a prosperous, secure, and free future for our community and nation.
Ensuring competitive markets
On March 19, I began my morning with a meeting with the Texas Bankers Association. We discussed recent concerning decisions from the Consumer Financial Protection Bureau and the Security Exchange Commission, which are currently overreaching their rulemaking and enforcement authority to place burdens on our financial markets.
These regulatory agencies are overlooking prevailing economic analysis about the broader impacts of their rulemaking on markets. By issuing onerous regulatory guidance, the CFPB and SEC are making it hard for financial institutions to decisively invest in their communities. Moreover, these new regulations are creating unnecessary barriers to enter the marketplace and for local and regional banks in Texas to compete with large national banks.
At a House Financial Services Subcommittee on Capital Markets hearing called, “SEC Overreach: Examining the need for Reform,” I questioned John Gulliver, Executive Director of the Committee on Capital Markets Regulation, about a proposal that would force public companies to disclose stock repurchase details.
The SEC’s regulation to force these disclosures was later vacated by the Fifth Circuit for lacking evidence and proper analysis. This action is a prime example of the SEC’s negligent oversight of regional banks and private businesses, which undermines economic growth. I also pointed out the SEC’s unjustifiable foray into private markets, stressing how such overreach threatens new businesses by saddling them with the burdens of public companies.
I concluded my remarks by emphasizing the importance of addressing these threats to our free enterprise banking system.
In Texas, local and regional banks continue to thrive, despite the challenges posed by excessive regulation. I am grateful for Community Bank & Trust, among other local financial institutions. We must work to cultivate a regulatory environment that promotes growth and innovation, rather than hinder it with unnecessary burdens.
Celebrating World Down Syndrome Day
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Thursday was World Down Syndrome Day, a great reminder of the immeasurable value that individuals with Down syndrome add to our communities and families. They are a gift from God, enriching our lives with joy. My son Alex is a daily source of inspiration to me.
In Congress, there are critical legislative efforts aimed at dismantling barriers for these individuals. I am a proud original cosponsor of the Charlotte Woodward Organ Transplant Discrimination Prevent Act (HR 2706).
I was excited to meet with the National Down Syndrome Society at my office and speak during their Down Syndrome Advocacy Conference. This event is a testament to our shared commitment to uplift individuals with Down syndrome. Together, we can make significant strides towards a society that truly values everyone.
Baylor in Washington
On Wednesday I enjoyed hosting the Baylor Ambassadors in my office. I had a great time listening to them discuss the Baylor Bear mission to educate men and women for worldwide leadership and service by integrating academic excellence and Christian commitment within a caring community. The Ambassadors are leaders amongst their peers and a remarkable reflection of the university’s mission.
We also explored the leadership opportunities that will be available to them throughout their lives. I shared my journey, from attending college to becoming a leader in private business, which equipped me with the necessary skills to be elected to the United States Congress.
My meeting with the Baylor Ambassadors reaffirmed the value of education, leadership, and service. I look forward to seeing the positive impact they will undoubtedly make in their communities and beyond, furthering the legacy of Baylor University.
A bright future for Texas A&M
I recently met with Texas A&M University’s President, Gen. (Ret.) Mark A. Welsh III, whose distinguished career from the Air Force to academia prepared him to lead TAMU with excellence. His vision for the university is informed by a life dedicated to developing leaders of character.
As he leads TAMU, his blend of military discipline and academic insight promises to strengthen its status as a leading institution committed to positively impacting our state and nation.
Under President Welsh’s leadership, the Aggie spirit of excellence and service is thriving.
Gig ‘em, Ags!
Pete Sessions represents District 17, which includes Trinity County, in the U.S. House of Representatives.
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