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Washington, DC– Congressman Brett Guthrie today voted in support of H.R. 37, the Promoting Job Creation and Reducing Small Business Burdens Act.

Composed of 11 bills that have previously passed with bipartisan support at either the full House or the committee level, H.R. 37 offers solutions to some of the regulatory burdens of Dodd-Frank that have hit small and medium-sized businesses across the country.

“Composed of more than 400 new regulations, Dodd-Frank was intended to regulate Wall Street,” said Congressman Guthrie.  “But what we’ve seen instead is that community financial institutions and small businesses on Main Street are drowning in a sea of red tape and burdensome regulation.”

H.R. 37 seeks to clarify provisions of Dodd-Frank to alleviate burdens and ensure that small- and medium-sized companies are not treated the same as multinational corporations.   Among the individual provisions of H.R. 37 are clarifications about the way collateralized loan obligations are handled (the Volcker Rule) and the threshold sales amount that triggers Securities Exchange Commission disclosure requirements for savings and loan holding companies, along with a clarification that Dodd-Frank margin requirements do not apply to the end-users of derivatives.

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