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Today, the House Committee on Oversight and Government Reform examined the extravagant bonuses given to top executives at Fannie Mae and Freddie Mac. The hearing entitled, “Pay for Performance: Should Fannie Mae and Freddie Mac Executives Be Receiving Millions in Bonuses?” questioned Fannie and Freddie’s CEO’s concerning this issue.

Today, Congressman Tim Walberg voted with 260 of his colleagues in favor of H.J. Res 2, which proposes a Balanced Budget Amendment to the Constitution. However, the resolution did not receive enough votes to pass, because a two-thirds vote is required for passage of a Constitutional Amendment. Two-hundred and sixty-one Members voted “yes” and 165 voted “no.” The legislation would require a balanced federal budget, with exceptions for times of war. Since President Obama has taken office the national debt has increased 34%, the fastest increase under any administration in history.

Congressman Tim Walberg is encouraging constituents to support their local and small businesses this Saturday, one of the busiest shopping days of the year. The day will mark the 2^nd annual “Small Business Saturday”, a national initiative to drive shoppers to small businesses in their own towns and cities. Small businesses create about 7 out of every 10 new jobs in the country and they employ just over half of the country’s private sector workforce.

Today Congressman Tim Walberg voted in favor of H.R. 3010, the Regulatory Accountability Act, which will require federal agencies to review the considerations of new regulations before imposing them on small businesses.

Specifically, this measure amends the Administrative Procedure Act of 1946, by requiring an agency to more accurately pinpoint regulations which are necessary to protect workers, and then find the least-costly alternative without jeopardizing public health, safety or welfare.

Today, U.S. Representative Tim Walberg voted in favor H.R. 10, the Regulations from the Executive in Need of Scrutiny (REINS) Act of 2011. The bill requires that both Congress and the President approve of all new major rules created by federal agencies. A major rule is defined as any regulation which will have an annual economic cost of more than $100 million. Congressman Walberg is a co-sponsor of the bill.

Today, Rep Walberg voted in favor of H.R. 1633, the Farm Dust Regulation Prevention Act of 2011. The legislation would block the Environmental Protection Agency (EPA) from regulating particulate matter, also known as dust, in rural areas where state dust laws are already in effect. More specifically, the legislation would limit the EPA’s power to situations where dust hurts people’s health,local governments are not monitoring it, and where the benefits of regulations clearly outweigh the costs. H.R.

Today, Congressman Tim Walberg voted in favor of HR 3630, the Middle Class Tax Relief and Job Creation Act of 2011. The legislation wouldhelp working families without raising taxes or borrowing from the Social Security Trust fund.

Specifically, HR 3630 would:

Today, Congressman Walberg issued the following statement after voting against H.R. 2055, the Conference Report to fund the federal government for the rest of the fiscal year.

“It’s positive that Congress reduced discretionary spending for the second year in a row, the first time since World War II, but with the magnitude of our fiscal challenges, this appropriations bill did not go far enough in reducing federal government spending,” commented Congressman Walberg following the vote.