Today, U.S. Rep. Blaine Luetkemeyer (MO-03) reintroduced the Systemic Risk Designation Improvement Act, which would more closely base the regulation of financial institutions on risk rather than asset size alone.
“This legislation supports economic growth throughout the country because it will free commercial banks to make loans while allowing financial regulators the ability to apply enhanced standards on banks based on actual risk posed to the financial system – rather than on arbitrary asset size alone,” Luetkemeyer said. “An inefficient regulatory system based on an arbitrary threshold can have real economic consequences. Last Congress, my colleagues recognized the importance of this issue when the House of Representatives passed similar legislation with bipartisan support. I look forward to ushering in a regulatory regime that more effectively and thoughtfully safeguards against risk.”
This legislation replaces the inflexible $50 billion threshold for designation of a bank holding company as a Systemically Important Financial Institution (SIFI) with a series of well-established standards that more accurately measure systemic importance. More specifically, this legislation requires that the Federal Reserve review an institution’s size, interconnectedness, substitutability, global cross-jurisdictional activity, and complexity before determining whether that institution should be subject to the full SIFI regulatory regime.
Luetkemeyer has introduced this legislation in the 113th and 114th Congresses with House passage last Congress.Read More
In recognition of their academic excellence and understanding of national security issues, U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following release to recognize six individuals from the 3rd District who have been honored with the J. William Fulbright scholarship.
“I am incredibly proud that six individuals from Missouri’s 3rd District have been awarded the prestigious Fulbright scholarship,” Luetkemeyer said. “Each of these individuals has clearly displayed a deep understanding of national security and foreign policy issues. I wish them the best of luck during their yearlong visits to their host countries.”
The six recipients are: Dr. Gregory Alexander from Jefferson City, Mr. Kevin Bird from Osage Beach, Ms. Brittany Broder from St. Charles, Ms. Kathryn Densford from Union, Mr. Dylan Gilbert from Saint Peters, and Mr. Daniel Pieper from O’Fallon.
The Fulbright Program has provided more than 370,000 participants, chosen for academic and leadership potential, with the opportunity to exchange ideas and to help find solutions to international concerns. Each year, 3,000 students and professionals in more than 100 different fields are offered Fulbright Program grants to lecture, study, and teach English and conduct various types of research in approximately 140 countries.Read More
U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement after the House of Representatives passed the Fiscal Year 2018 National Defense Authorization Act (NDAA):
“The men and women who defend our freedoms are our country’s most valuable asset,” Luetkemeyer said. “As a Member of Congress, I have a responsibility to provide these men and women with the equipment and supplies that improve their capabilities on the battlefield and keep them safe. This legislation increases the size of each branch of our Armed Forces while fully funding the 2.4 percent pay raise guaranteed to our men and women in uniform under current law. The Fiscal Year 2018 NDAA also helps to address the readiness crisis facing our military following years of under-funding. Our troops sacrifice so much for our country and are the greatest fighting force on this planet. This bill provides them with the tools and equipment that match their skill and proficiency.”
Additional provisions in the NDAA:
-22 F/A-18 Super Hornets that address our critical strike fighter shortfall and support 13,000 jobs in Missouri.
-Prohibition on transfer of Guantanamo Bay detainees to the United States, and transfer of the U.S. Naval Base at Guantanamo Bay to Cuba.
-Prohibition on the closure of military medical facilities.
-Reforms that provide the Department of Defense with the tools to streamline bureaucracy and make better business decisions.
-Provides for an audit of the Pentagon for the first time in history.
I come from a town of approximately 300 people, in an area that has limited access to high quality telecommunication services. Given that personal experience, I understand firsthand the frustration of living with limited access to telecommunications services. This has caused many rural communities to become disadvantaged, particularly as our nation has grown more dependent on technology.
Rural broadband is an issue that is of critical importance to many parts of the 3rd District. Broadband coverage is utilized by students to complete classroom assignments, for small businesses to thrive in an increasingly competitive marketplace, and for health providers to perform the tasks they need to accomplish.
As Vice Chair of the House Small Business Committee, I take every opportunity to raise awareness of the impact Federal Communications Commission (FCC) reforms have on telecommunication providers, small businesses, and Missouri families.
In addition to access to reliable Internet, another issue that has been brought to my attention is in regards to telephone calls either not going through or not completed in rural areas. This lack of call completion disproportionately impacts rural areas and is a risk to the safety and well-being of many Americans that live there. Earlier this year, the House passed the Improving Rural Call Quality and Reliability Act which requires intermediate providers to register with the FCC and comply with the service quality standards set by the agency to improve call quality from long distance or wireless calls in rural areas throughout the country. This legislation takes the first step in fixing this serious issue so consumers can expect a higher level of call reliability and quality.
I meet regularly with small, rural telecommunications providers throughout the State to hear what the House of Representatives and the FCC can do to meet their needs and ensure consumers are getting the best products and coverage available. At the end of the day, we cannot allow rural America to get left behind when it comes to broadband. We must ensure that our nation’s 21st Century advancements, that urban areas consider common, are also available in our rural areas. I will continue to work with my colleagues to find solutions to ensure that each and every American has access to the broadband services they need and deserve.Read More
U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement after the Labor, Health and Human Services, and Education funding bill for Fiscal Year 2018 was passed out of the Subcommittee with language that will provide protections for the unborn.
“I am incredibly pleased that my colleagues on the House Appropriations Committee recognized the importance of this issue and are willing to join me in ensuring that taxpayer dollars will not be spent on trafficking infant body parts,” Luetkemeyer said. “Taxpayer dollars should be held in a higher regard, and directed toward projects and priorities that not only better our country but also reflect the will of the people.”
Specifically, the legislation mandates that no funding be provided for research on fetal tissue that was obtained from an induced abortion.
Additionally, Luetkemeyer introduced H.R. 1895, the Protecting Life and Integrity Research Act, which would allow the National Institute of Health (NIH) to conduct research on donated stillbirth and miscarriage fetal tissue, but target the unethical practices of abortion providers by prohibiting authorization of research on fetal tissue obtained from an induced abortion.Read More
Today, U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement upon conclusion of the Financial Institutions and Consumer Credit Subcommittee hearing entitled “Examining Legislative Proposals to Provide Targeted Regulatory Relief to Community Financial Institutions.”
“Our nation’s community financial institutions are getting buried under red tape,” Luetkemeyer said. “Even today, a lender who serves many Missourians living in my congressional district, who testified before the Subcommittee reiterated that his credit union is constantly stifled due to high costs and regulations from the government. The bills that were discussed today are all designed to take the first steps in relieving pressure on our nation’s community financial institutions and preserving choice and financial independence for all consumers. I want to thank all of the witnesses that testified before the subcommittee for their willingness to be here today.”
One of the pieces of legislation that was discussed was Luetkemeyer’s Community Lending Enhancement and Regulatory Relief (CLEARR) Act. Included in the legislation are provisions to provide relief from costly escrow requirements, increase regulatory due process for financial institutions, limit the authorities of the Consumer Financial Protection Bureau, end Operation Choke Point, and increase consumer access to mortgages and other banking products.
U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement after the Consumer Financial Protection Bureau’s (CFPB) rule to prevent companies from using arbitration clauses:
“This announcement is yet another anti-consumer regulation issued by the CFPB that will prompt more lawsuits all across the country,” Luetkemeyer said. “The agency has published its own research which states arbitration has shown to be a positive tool for consumers. Yet, this week’s announcement is in complete contradiction to its reports. This action demonstrates why the CFPB ultimately needs to be substantially reformed.”Read More
The United States Postal Service (USPS) recently announced that it will relocate its current Wentzville facility to a new facility on Luetkenhaus Blvd.
“After months of working with city officials in Wentzville, I am incredibly pleased to see USPS has recognized the need for a new facility that will benefit the city as it continues to grow,” Luetkemeyer said. “Wentzville Mayor Nick Guccione, Economic Development Director Dan Lang, and the Board of Aldermen all played a critical role in the collaborative community effort of ensuring this project would come to fruition.”
The USPS will continue to provide services at its current location until the new facility is open. The new location is expected to open in 2018.
Here in the 3rd District we have had some very exciting news and announcements over the last couple of weeks.
Just a couple of weeks ago the Festus High School Rocket Club won first place at the International Paris Show. The tournament, the Team America Rocket Challenge, is the world’s largest student rocket contest and is important to the aerospace and defense industry’s strategy to build a stronger U.S. workforce in science, technology, engineering, and mathematics. The Festus High School team represented the U.S. and competed against other teams from the United Kingdom, France, and Japan.
I am incredibly proud of the Festus High School students who worked so hard to bring home a first place win at the International Rocketry Challenge. Congratulations on a job well done and I look forward to hearing about the other great things you will accomplish in your young lives!
On another note, there have been several high school students across the 3rd District who have accepted offers of appointments to various military academies for the class of 2021. There is a lot of responsibility that comes with attending one of our nation’s military academies. There is a level of expectation and behavior that exceeds most other institutions of higher learning, simply because of the unique mission of the academies. I am beyond confident that the students who have accepted appointments to the U.S. Naval Academy and the U.S. Air Force will live up to those expectations. To all of you who have accepted a nomination: I wish you the very best and thank you for choosing a career of service to your country. We are incredibly grateful for you and for your selfless decision.
Lastly, each year dozens of entries from high schoolers around the 3rd District are submitted for entry to the Congressional Art Competition. Just a few days ago, the 2017 winner, Heather Mote from Iberia, came to Washington for her reception and to be honored, along with the other winners, for their talent and hard-work. It was a pleasure to meet Heather and hear how excited she was to be in Washington and to see her very own artwork hang in the U.S. Capitol. The Congressional Art Competition serves as an opportunity to allow high school students to visit the capital and be recognized for their achievements.
It is very clear the 3rd District is home to incredibly talented young men and women across the 13 counties it spans. If you know of a young individual who earned a special recognition at school, camp, or any sort of event – please let me know. I would love to highlight all of the great work that is being done in the 3rd District!Read More
Just the other day, I was driving from St. Elizabeth to the St. Louis airport to catch a plane to fly to Washington for the week. As I was driving, I noticed a number of patriotic flag displays and arrangements in front of many homes and businesses across the 3rd District.
It was a wonderful sight to see and as we all get ready to celebrate the Fourth of July, I wanted to highlight the patriotism that is abundant all across the district. It’s a time to reflect upon and renew our commitment to the principles that are found in the Declaration of Independence, and symbolized by the American flag and the national anthem.
No matter if you are at a baseball game or a community event, each playing of our national anthem provides us all with an opportunity to celebrate our nation. Hearing the national anthem on a daily basis is essentially providing Americans with the opportunity to celebrate the Fourth of July all throughout the year.
So as we fire up our grills to make hamburgers and hot dogs and we don ourselves in red, white, and blue – let us always remember what we are celebrating. We are celebrating and reflecting on the many rights and freedoms that we enjoy in the greatest nation and the struggles to gain and protect them. And as we gather the children and grandchildren around to watch fireworks blanketing the dark sky with its bright lights, it’s a wonderful feeling to have our communities come together to celebrate a country that we love so dearly.
On the Fourth of July, as we celebrate our nation’s birthday, let us be thankful that we have the freedom to do so and remain vigilant today, tomorrow, and forever against those who seek to take it away. As the late President Dwight Eisenhower said “freedom has its life in the hearts, the actions, the spirit of men and so it must be daily earned and refreshed – else like a flower cut from its life-giving roots, it will wither and die.” While we may not always agree with our friends, neighbors, community leaders, and even our own family members on the issues of the day, it’s important to remember that our country is special and that its independence should always be a cause for celebration.
On behalf of myself, my family, and my staff – I hope everyone has a safe and wonderful Fourth of July.Read More
2440 Rayburn HOB
Washington, DC 20515
As the Congressman from the 3rd Congressional District of Missouri, Blaine is committed to representing the interests of the hard-working people by being a strong voice for them in Washington, D.C.
Blaine, 61, represents the 13 counties that make up the 3rd Congressional District of Missouri. Blaine, a native of St. Elizabeth, Mo., has lived in the district with his family for four generations and he operates a 160-acre farm there.
Along with his strong agriculture background, he was also a small businessman, having been in the banking and insurance business. Blaine has also served as a bank regulator for the state of Missouri earlier in his career. He was elected in November, 2008, succeeding fellow Republican Kenny Hulshof.
From 1999 to 2005, Blaine was a Missouri State Representative and served as Chairman of the Financial Services Committee and was elected by his colleagues to serve as the House Republican Caucus Chairman. After leaving office, Blaine was appointed by Gov. Matt Blunt to serve as the Director of the Missouri Division of Tourism.
Building on his experience as a bank examiner, small businessman and community banker, Blaine serves as vice chairman of the House Small Business Committee where he also serves on the House Small Business Subcommittees on Health and Technology and Agriculture, Energy and Trade. Blaine also serves on the House Financial Services Committee where he also serves on the panel’s Subcommittee on Financial Institutions and Consumer Credit Committee and is vice chairman of the Housing and Insurance Subcommittee.
Blaine is a member of the Knights of Columbus, Eldon Chamber of Commerce, Missouri Farm Bureau, National Rifle Association and a lifelong member of St. Lawrence Catholic Church. Blaine is a graduate of Lincoln University in Jefferson City, Mo., where he earned a degree with distinction in political science and a minor in business administration.
Blaine and his wife, Jackie, have three children, Trevor, Brandy and Nikki, and four grandchildren.
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