House Republicans are treading slowly in their efforts to take apart the Dodd-Frank financial reform law. That’s because they want to make sure that financial markets remain stable during the process, Rep. Scott Garrett
, R-N.J., tells The Hill
. He's chairman of the House Financial Services Committee’s Capital Markets subcommittee.
“Market certainty was so lacking prior to Dodd-Frank, and was just exacerbated by [the law],” Garrett said. “Simply saying that we were going to attempt to repeal the entire bill ... probably would have provided more harm than good.” In addition, the Democratic-controlled Senate likely would have shot down a strong repeal bill.
So Republicans will instead opt for specific changes that have a good chance of passage, Garrett said.
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