Chris Stewart is the Congressman from Utah's Second Congressional District. He is a multiple New York Times best-selling and national award-winning author, world-record-setting Air Force pilot, and the former owner and CEO of a small business.
Chris is one of ten children and grew up on a dairy farm in Cache Valley. He graduated from Utah State University, where he earned his degree in economics. Upon graduation, Chris joined the United States Air Force where he was the Distinguished Graduate (top of his class) in both Officer Training School and Undergraduate Pilot Training. He served for fourteen years as a pilot in the Air Force, flying both rescue helicopters and the B-1B bomber. He holds three world speed records, including the world’s record for the fastest non-stop flight around the world.
The Financial Services industry is vital to our economy. In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. This lengthy document, however well-intentioned, was poorly-designed. The Financial Services Committee of the House of Representatives reported that of the 400 rules required to be established under the Act, only 224 have been written. These 224 rules and regulations already consume 7,365 pages and will require private sector job-creators to spend 24,180,856 hours to comply with the rules.
The Dodd-Frank Act is hindering financial institutions and small businesses. Instead of focusing their efforts on creating jobs and growing our economy, small businesses and financial institutions are spending increasing amounts of time and money to comply with the rules. Rather than hindering these institutions and businesses, we must seek to help them succeed and, in turn, spur the economy.