Restoring Economic Opportunity

Passage of Financial CHOICE Act

With my strong support, the House passed H.R. 10, the Financial CHOICE Act. This bill rolls back a range of
burdensome Dodd-Frank regulations that have restrained growth, hampered innovation, and raised costs for
consumers all while boosting profits for big banks. Since Dodd-Frank was signed into law, $36 billion in regulatory fees
have been imposed on our economy. What began as 2,000 pages of complex regulations has grown to over 25,000
pages of crippling, overlapping rules that have made big banks bigger, while driving community financial institutions
in our area to near extinction. Under Dodd-Frank, America has lost, on average, one community bank each day.

Financial CHOICE Act unleashes small banks and community lending institutions by streamlining the regulatory
process and repealing some of the most burdensome and costly aspects of Dodd-Frank. Community-lending
institutions will once again be able to offer services they have been forced to eliminate throughout the past seven
years, including residential mortgages, small businesses loans and free checking. This bill also ends tax-payer funded
big bank bailouts by holding failing financial institutions accountable through bankruptcy, not bailouts.

Introducing legislation to ease the bank chartering process

I am introducing legislation to ease the chartering process for new banks so that rural communities have greater
access to capital and banking services. Since 2008, only three new banks have been chartered and, on average, we
loose one community bank each day. This has put rural communities at a big disadvantage. My draft legislation would
remove a duplicative chartering requirement in current law that has forced applicants for a bank charter to submit two
separate applications covering the same proposal to two different federal agencies, each of which reviews the
proposal for essentially the same issues. This change will help bring back competition to the financial sector.

Spearheading legislation to boost local manufacturing in Upstate

To support growth locally, I introduced H.R. 3293, the Support Procurement of our Nations Stainless Steel Act.
From 1976 to 2006, federal law included a domestic sourcing requirement for flatware. During this time, Oneida Ltd.
was the primary domestic supplier for all of the Department of Defense. In 2006, this sourcing requirement was
removed after Oneida Ltd. moved manufacturing overseas. My legislation would restore this longstanding domestic
sourcing requirement for stainless steel flatware given the local success of Sherrill Manufacturing. This legislation
would provide a boost to local manufacturing supply chains and retains all waivers to control costs and quality.

Stregthening regionally-driven approaches to manufacturing

I am an original cosponsor of H.R. 2264, the Make it in America Manufacturing Communities Act. This bill would
codify into law a successful program, the Investing in Manufacturing Communities Partnership (IMCP). This program
allows communities around the country to compete to receive expedited consideration for federal economic
development funds. Already, 24 communities around the country have been designated Manufacturing
Communities and have received targeted investment and support to make their regions more competitive. The
programs future is uncertain without authorizing legislation, but this bipartisan bill would make it permanent so that
more communities around the country can compete for this designation and better coordinate manufacturing efforts.

To learn more about Congresswoman Tenneys #RenewNY22 Growth Plan,

visit www.tenney.house.gov. Also, be sure to sign up for her weekly e-newsletter.