Local Government News
Rep. Mooney opposes motion to table debate on speaker's removal
Congressman Alex X. Mooney voted against a Motion to Table debate on an effort to remove House Speaker Mike Johnson, asserting that such a significant action warranted a comprehensive debate. He further indicated his intention to vote against the speaker's removal if the matter was brought to the House floor.
Rep. Mooney Introduces Bank Risk Reduction Act
WASHINGTON, DC – Rep. Alex X. Mooney has introduced H.R. 8153, the Bank Risk Reduction Act, aimed at eliminating regulations hindering bank risk management and creating systemic risk. The legislation specifically targets Dodd-Frank’s mandatory margin requirements concerning interest rate swaps used for hedging against interest rate risk in bank assets.The need for such legislation arose from bank failures in early 2023 attributed to poorly managed interest rate risk. Rep. Mooney emphasized the negative impact of current regulations, stating, “Unfortunately, current...