Kevin McCarthy: My weekly report from the Hill

Rep. Kevin McCarthy (R-Bakersfield) is our local congressman representing the 22nd District. Let's hear about his priorities in his own words:

"Congress was back in session this week, and in the Financial Services Committee we had several hearings, including a status update on Fannie Mae and Freddie Mac – the mortgage giants and Government Sponsored Enterprises (GSEs) currently under government conservatorship.
"Also, this week, in response to newly added water restrictions in this time of severe drought, I joined several of my California colleagues to request that the House Natural Resources Committee hold a field hearing in the San Joaquin Valley. Water is the life blood for our local farmers and families, and a field hearing would help open the eyes of my Congressional colleagues to help develop solutions that can bring relief to our drought-stricken landscape. In addition to this letter, I have also cosponsored a bill (H.R. 856) which would increase water deliveries to the Central Valley and Southern California urban and agriculture users by waiving regulations regarding endangered fish at Delta pumps during times of drought. I have also cosponsored another bill (H.R. 996) that would increase water deliveries by temporarily exempting the operations of any water supply or flood control project from ESA when the Governor declares an emergency (like our Governor declared earlier this year).

"I also wanted to let you know about two financial service related bills I introduced that focus on increased accountability, transparency and efficiency to help prevent financial fraud. The first piece of legislation (H.R. 2622) is directed at ensuring that former employees of organizations like the New York Stock Exchange or National Association of Securities Dealers can be held accountable by the Securities and Exchange Commission (SEC) for any misconduct while an employee at these organizations. The second piece of legislation (H.R. 2623) would reorganize the Securities and Exchange Commission to return inspections and examinations functions to their original location within the Divisions of Investment Management and Trading and Markets. These two solutions are an important step to help the SEC root out problems in the securities industry and protect Americans’ savings.

"Congress also welcomed the statue of our 40th President, Ronald Reagan, to a place of honor at the Capitol Rotunda this week. At the unveiling ceremony, my colleagues and I joined former first lady Nancy Reagan. I was also pleased to have Shandon, CA resident and former Under Secretary of State, Secretary of Interior, and National Security Advisor to Ronald Reagan, Judge Bill Clark, join me for the ceremony. If you would like to see pictures of the statue, I have posted a few on my Facebook page. If you are coming to DC, be sure to arrange a Capitol tour through my office to see the statue in person. Also it is interesting to note that the statue of Reagan faces the west, just as Reagan did when he was inaugurated on the west side of the U.S. Capitol building.
"Thanks for reading, and have a great weekend.