Stopping Scammers

I am hosting a free Scam Prevention Event in Beloit at 11:00 a.m. on Monday, May 20th, at the Beloit Public Library Community Room. I hope you will join us that day to learn more about how we can all help prevent scams.

During the event, officials from the Federal Trade Commission, Wisconsin Department of Agriculture, Trade and Consumer Protection, Wisconsin Better Business Bureau, AARP, and IRS Criminal Investigation will be sharing information regarding new scams targeting Americans’ information and resources to prevent and report scams.

Until we are successful at ending these scams, I want to be a resource for you to prevent being scammed. If you would like to attend the event, please RSVP by calling my Beloit office at (608) 752-4050 or emailing [email protected].

Scammers are always looking for new ways to obtain our information. Roughly 21 million Americans reported having been personally victimized by scams in 2023. Additionally, the Federal Trade Commission reported data that consumers lost nearly $8.8 billion to fraud in 2022, a more than 30% increase over the previous year.

This week, I introduced a resolution to designate May 9th as National Scam Survivor Day. The National Scam Survivor Day resolution encourages scam survivors to tell their stories to combat the stigma that may prevent individuals from seeking the guidance and assistance they deserve. Additionally, the legislation urges a collaborative approach to support scam survivors and prevent future scams among government, the private sector, and nonprofit organizations.

Protecting Workers' Retirement Accounts

Workers’ retirement accounts, like 401ks, are mainly invested in stocks. A safe, transparent, and healthy stock market helps grow our retirement accounts and supports job creation.

The Securities and Exchange Commission (SEC) is responsible for regulating stocks and related investments.

The SEC best serves investors and our economy when it puts out and enforces clear and common-sense regulations to safeguard consumers and promote innovation. Unfortunately, the SEC is failing this core part of its mission.

Instead, the Commission has chosen not to provide clarity on major rules and has instead taken aggressive legal action, often against salespeople and small businesses. This approach creates uncertainty about the rules of the road and hurts buyers, sellers, and brokers of investment products.

This week, the Financial Services Subcommittee on Capital Markets held a hearing titled “SEC Enforcement: Balancing Deterrence with Due Process” to ensure that the regulation by enforcement approach is not harming our investors, entrepreneurs, and their customers.

Click here to watch the full hearing.

Protecting Consumer Choice for Home Appliances

In 1975, Congress established the Energy Policy and Conservation Act (EPCA) to increase American energy production, encourage efficient energy use, and bolster national energy security. Under the EPCA, the Department of Energy (DOE) sets efficiency standards for 60 product categories – but these standards must be cost-effective, significantly save energy, and be technologically feasible.

Unfortunately, the DOE’s proposed standards aim to shut down the use of natural gas, regardless of cost, performance, or availability. Making the switch to fully electric appliances is simply not feasible for all Wisconsin families. In fact, about two-thirds of all Wisconsin households use natural gas as their primary fuel for home heating.

This week, the House of Representatives passed legislation to prevent the Secretary of Energy and the DOE from implementing new or amended energy efficiency standards for appliances that are not technologically feasible or economically justified.

Click here to learn more.

In Case You Missed It

This week, I joined Bloomberg to discuss the ongoing conflict in the Middle East and what's up next for the Financial Services Committee.

Click here to watch the full video.

I also joined Maria Bartiromo on Fox Business to discuss Microsoft’s $3.3 billion investment to build a new artificial intelligence facility and the impact an 18% increase in cost of living is having on Wisconsin workers.

Click here to watch the full interview.

Congressional Art Competition

Each spring, a nation-wide high school arts competition is sponsored by the Members of the U.S. House of Representatives. The Congressional Art Competition is an opportunity to recognize and encourage the artistic talent in the nation, as well as in our Congressional District.

The winning artwork of our district's competition will be displayed for one year in the U.S. Capitol. The exhibit in Washington will include the winning artwork from all participating districts from around the country.

This year we celebrate our 2024 winner from Union Grove High School, Mehlia! Her self-portrait titled A Representation of Me was drawn with pen, pencil and marker. Mehlia’s award is well deserved, and I am proud to have her represent our district as her work hangs amongst our country's premier young artists.

On Wisconsin,

Bryan Steil
Member of Congress

Click here to subscribe to my e-newsletter