This week, the Senate will continue negotiating the Senate Financial Reform bill, proposed by Senator Chris Dodd (D-CT). The bill will likely go up for a vote early next week. That means that this is our last chance to impact the outcome of this bill. While it may not be evident to most, the impact of this bill on our everyday lives could be enormous – it provides for a government agency with broad over-reaching powers, limits our consumer choices, implements massive spending, and infringes upon the privacy of American citizens in a variety of ways.
To help you understand the impacts of the financial reform bill, and help your groups get involved, we have prepared this training packet for you and your state and local groups. The topics included in the packet include all of the following:
End Bailouts, Stop Big Brother. TRY FREEDOM!
Download the Training Packet
- Understanding the Issue
- The Legislative Process: How a Bill becomes a Law
- Conveying Your Message to Legislators and Staff
- Who to Contact
- Media Overview
- Recruiting Friends and Family
- Other Ways to Get Involved
- Email Action Alert Campaign Template (included below on this page)
Email Action Alert Campaign Template
Please use this template to send an email alert to your local groups, friends and family. Be sure to fill in your state’s Senators’ name and contact info in the last paragraph of this template letter.
Begin Copy and Paste Below:
Recently, the Obama Administration and its allies sent over half a million communications to the United States Senate urging Senators to support financial service reform under the guise of “protecting American consumers.”
Meanwhile, Democrats and Obama allies like Organizing for America are also using the issue as a shameless fund-raising opportunity.
They say they are trying to fix the abuses of Wall Street, but read the fine print of the legislation. It actually does quite the opposite, invading your privacy, restricting your choice, raising credit costs and burdening small business while bailing out the big banks – permanently.
Invades Your Privacy
This legislation creates an Office of Financial Research, which has the authority at any time to review your credit, monitor your mortgage payments, see how much money you make and the loans you take, and how you use credit. Do you really want a new government agency knowing exactly how you spend your hard-earned money?
Limits Your Choices
The bill contains a new bureau with broad powers to limit what financial products and services can be offered to consumers. Designed to “protect” consumers from unfair practices, it really limits your choices—even in cases where a consumer fully understands and accepts the costs and risks. For many people, this will make credit more expensive and harder to get.
The bill creates an oversight agency with a $430 million budget, which can be spent with no oversight. This budget is set to increase by 10 percent over the next two years meaning that as taxpayers, we will give a single federal regulator over half a billion dollars to spend however he chooses!
Burdens Small Business
The bill creates a bureaucracy that gives authority far beyond “fixing” Wall Street. It gives bureaucrats the power to regulate hundreds of thousands of businesses including nonprofits that provide financial literacy education; software companies that create products to help consumers manage their money; and even utilities companies, retailers and doctors that extend credit to their customers. Do we really want to give the government the authority to regulate how we pay our electric bills? Or how we pay our doctors?
The government has already tried to control the health care, automobile and energy industries, but let’s draw the line with the government regulating our financial choices and invading our privacy.
The U.S. Senate is set to vote on this legislation next week. Before they do, make sure your Senator hears your voice and represents you accordingly when casting his vote.
By taking five minutes of your time today you can help secure your financial future. Write or call Senator (INSERT NAME) today at (INSERT NUMBER)! Attached are talking points to help you communicate your message easily either over the phone or through a personal letter, which you can fax to (INSERT FAX). After you take action, please email us at email@example.com and let us know how it went.
(Other resources are also listed in the training packet)
The Heritage Foundation:
Senator Dodd’s Regulation Plan: 14 Fatal Flaws (.doc)
Americans for Tax Reform:
Contact Your Senator, Stop the Bank Bailouts Toolkit
The Hagan Wall Street Carve Out Bill
Bloggers Talking Points on the Kay Hagan Amendment
Senator Jim Demint:
DeMint: Dodd Bill Is Hyper-Regulation Without Reform