Congressman Patrick McHenry

February 19, 2017

Congressman McHenry Weekly Update

Questioning Fed Chair Janet Yellen

On Wednesday, Federal Reserve Chair Janet Yellen made the first of her two annual appearances before the House Financial Services Committee. I used my time at the hearing to question Chair Yellen about the Federal Reserve's role in negotiating international regulatory agreements, specifically as it relates to whether or not the Fed was consulting with the new Administration while participating in these negotiations.

Two weeks ago, I sent a letter--which you can read more about here--to Fed Chair Yellen about this issue and expressing my concern that the Fed was engaging in negotiations with international bureaucrats that lacked any semblance of transparency and might not be in the best interest of the American people. I addressed these issues during Wednesday's hearing. You can see video of our exchange by clicking here or on the image below.

You can find more information about Wednesday's hearing--including full video--at the Financial Services Committee's website.

Recapping Our Regulatory Reform Efforts

After his election, President Trump made clear that one of his first orders of business would be undoing the vast array of Obama-era regulations that have strangled job growth and made the cost of doing business in the US skyrocket. Over the past few weeks, House Republicans have led these efforts using the Congressional Review Act (CRA) to overturn and undo some of President Obama's most egregious regulatory overreach.

In all, the House has passed resolutions overturning thirteen regulations. These have moved to the Senate where so far, three have passed. Two of those three have since been signed into law by President Trump. You can see a full rundown of the process by clicking here or on the image below.

A Strong Choice to Get Our Fiscal House in Order

Great news from the Senate this week as Mick Mulvaney of South Carolina was confirmed as the Director of the Office of Management and Budget (OMB). I got to know Director Mulvaney well during the six years we served together in the House. He is smart, principled, and brutally honest: just the qualities we want in the person charged with getting our nation's fiscal house in order. Mick will be missed in the House but he is needed at OMB. I wish him the best of luck there. You can see my full statement on his confirmation by clicking here or on the image below.


	What I Have Been Reading
	Humana to drop out of ObamaCare at end of 2017 The Hill This week saw more bad headlines for Obamacare, first with Humana announcing they'd drop out of the Obamacare market at the end of this year and then later in the week when the Aetna CEO declared Obamacare to be in a death spiral. These two stories again highlight why this broken must be repealed and replaced. In the coming weeks, I look forward to working with my House Republican colleagues to reveal our plan to do just that. Catawba County Chamber of Commerce names first female president *Hickory Daily Record* Congratulations to Lindsay Keisler who this week was named as the new President of the Catawba County Chamber of Commerce. A native of Conover, Lindsay will be the first female to lead the Catawba County Chamber. She has big shoes to fill replacing Danny Hearn who retired last year but I'm sure she will do a great job. I nside the Silence at Belmont Abbey College *Our State Magazine* While I'm obviously biased being an alumnus of Belmont Abbey College, I highly recommend this story on the school from Our State. The story by accomplished North Carolina writer Tommy Tomlinson, does a wonderful job of capturing what makes the Gaston County college so special.

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Washington, D.C. 20515
Telephone: 202.225.2576
Fax: 202.225.0316

GASTONIA DISTRICT OFFICE
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Gaston Co. Administrative Bldg
128 West Main Avenue
Gastonia, NC 28053
Telephone: 704.833.0096

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Hickory, NC 28603
Telephone: 828.327.6100
Toll-Free in NC: 800.477.2576
Fax: 828.327.8311

BLACK MTN. DISTRICT OFFICE
160 Midland Avenue
Black Mountain, NC 28711
Telephone: 828.669.0600

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