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Message from Congressman Scott Fitzgerald
Good afternoon everyone!
I hope everyone had a wonderful weekend and enjoyed the fantastic weather we had in Southeast Wisconsin!
Congress is back in session, so I’m back in DC this week. First on the agenda, the House will be considering a number of Iran related proposals in response to the country’s multiple-drone and -missile attack on our ally, Israel, over the weekend.
We must continue to stand in support of Israel as it faces attacks across multiple fronts in the region.
Have a great week, and as always, call my office if you have any questions or concerns.
- Scott
Financial Services Legislative Update
Over the past two weeks, I’ve introduced a couple of financial services related bills.
The first one—the Accurate Credit Reporting for Homebuyers Act—is a bill to codify the “tri-merge” credit model into law. But let’s take a step back so I can explain what that means.
Typically, when Americans take out a residential loan, Enterprises like Fannie Mae or Freddie Mac obtain a credit report and credit score on a borrower from each of the three national credit bureaus.
This is an important standard to ensure the most fair and accurate score is reflected for a borrower. Unfortunately, the Biden Administration is trying to shift to a model that would only use two credit scores.
This Biden proposal could be the obstacle that keeps borrowers from obtaining a mortgage if they have lower FICO scores but are otherwise credit-worthy. My bill corrects this misguided proposal by codifying the long-standing requirement that Enterprises obtain three credit scores.
The other bill I introduced was a resolution to repeal the Federal Reserve’s Climate-Related Financial Risk principles.
These principles state that any bank with more than $100 billion in assets should infuse climate risk considerations into all parts of their business, ranging from strategic planning and risk management to policies and procedures.
Financial institutions have managed risks associated with severe weather events for hundreds of years now, so the Federal Reserve’s effort to infuse climate change into financial institutions is not only misguided, but unnecessary too.
The resolution I’ve introduced is an important measure to push back on leftist environmental groups and unaccountable bureaucrats, and to keep ESG criteria out of the banking system.
Election Integrity Prevails in Wisconsin
Election integrity is a pivotal issue for Wisconsin voters.
This was demonstrated clearly in early April when two State constitutional amendments banning the use of private grants in election administration and requiring only public officials designated by law to handle election administration passed via referendum.
As a former state legislator, I helped create and implement our strong state election laws in Wisconsin and, since coming to Congress, I have been working hard to oppose efforts by Democrats to federalize our elections, eliminate voter ID laws, and further entrench mail-in voting. As elected officials, we have a duty to maintain the faith of our voters in the integrity of our elections.
During my time in Congress, I have cosponsored several pieces of legislation that would restore faith in elections. Most recently, I am a cosponsor of H.R.4501, the End Zuckerbucks Act, which would prohibit tax exempt organizations like the Center for Tech and Civic Life (CTCL) from providing funding to official election organizations. This bill effectively makes one of the recently passed State constitutional amendments federal law.
Rest assured, I will continue to support efforts to restore faith in elections while opposing any efforts to take the election process out of the hands of duly elected state and local officials.
Green & Gold Congressional Aide Program
ICYMI, my office is seeking a veteran for a position in WI-05’s Oconomowoc district office. If you or a person you know are interested, I encourage you to apply!
The person chosen for the special position will work with military and veteran constituents to handle veterans-related casework and act as a facilitator between constituents and federal, state, and local agencies.
The Green & Gold Congressional Aide Program was established by the House of Representatives to provide employment opportunities for veterans within member offices.
The program is limited to veterans who meet all of the following requirements:
- Honorably discharged
- Released from active duty within the last six years
- Terminal pay grades at or below E-5, O-3, or W-2
- Veterans promoted to the pay grades of E-6, O-4, and W-3 within 6-months of separation from active duty are eligible, granted they meet ALL other eligibility requirements.
- Veterans who are in receipt of a 20-year or Temporary Early Retirement Authorization (TERA) retirement are not eligible for the program.
Click here to learn more about the job posting.
That's a wrap for this week's eNewsletter! Follow me on Twitter and Facebook to stay up to date on my work for the 5th District of Wisconsin.
Sincerely,
Scott Fitzgerald
Member of Congress
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