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Dear Friends:
This week, the Senate began debate on financial regulatory reform legislation.
As the ranking Republican member of the Senate Agriculture Committee, I have been actively involved in this debate because the Agriculture Committee has jurisdiction over several provisions in this legislation.
I believe every member of the Senate wants to crack down on the greed on Wall Street that led to our economic downturn. However, the legislation in its current form has numerous unintended consequences, and will harm American businesses at a time when the American public can least afford it.
Additionally, our community banks are not a cause of the problem, and the current bill is simply a solution looking for a problem. It is important to find middle ground that addresses the systemically risky institutions, while not legislating over-burdensome rules that hinder the economy from responding to the global market. We ultimately do not want to push our financial industry overseas to do business where they will have little to no oversight.
As the Senate continues debate on this legislation, I will support amendments that will address those issues that caused the economic crisis, not punish those that had no role in causing the economy to fail.
This week, I participated in several television interviews on this issue. You can watch them here and here. I was also on CNN’s State of the Union with Candy Crowley last Sunday. To watch that interview, click here.
Immigration
State legislatures cannot be expected to ignore the escalating problem of illegal immigration when the federal government has failed to protect border states by enforcing current immigration laws.
I believe it is imperative that we first secure our borders and enforce our existing immigration laws before Congress attempts to address comprehensive immigration reform. I will not support any proposal that provides amnesty or a path to citizenship for those that are currently here illegally.
U.S. Chamber of Commerce “Spirit of Enterprise” Award
I was humbled and honored to be presented this week with the “Spirit of Enterprise” award by the U.S. Chamber of Commerce for supporting pro-growth legislation. As the Senate moves forward, I will continue to support policies that create jobs and strengthen our economy.
The U.S. Chamber of Commerce selects Members of Congress based on their votes on key business issues, which the Chamber outlines in its annual publication How They Voted. These designated “key votes” are recorded floor votes on issues the Chamber has established as priorities.
Coming Up…
Next week, the Senate will resume consideration of S. 3217, the Financial Reform Bill.
Should you need assistance with a federal agency, you may contact my office toll free at 800-234-4208, or send an email by clicking the icon at the top of this page that says “e-mail me.” You can also send a letter to one of my office addresses listed at the very bottom of this newsletter.
Please let me know if I can be of assistance.
Very truly yours,
Senator Saxby Chambliss
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Governmental Affairs 
