News From Congressman Eliot Engel

Engel Blasts GOP Move to Weaken Dodd-Frank Financial Regulations

  “Yesterday, Congressional Republicans continued their march backwards by passing the most significant weakening of Dodd-Frank since the law was first written in response to the 2008 economic catastrophe, where 9 million people lost their jobs, 11 million lost their homes, and at least $113 trillion was lost in household wealth. Their move, which now awaits the signature of the president, opens the financial system back up to the abuse and risky behavior that almost collapsed the economy a decade ago, and does so at a time when financial firms are posting record profits, more than 163 billion in each of the past 3 years.  

“The American people literally cannot afford this GOP majority in Congress. The banking industry needs more scrutiny, not less. I opposed and voted against this bill because the legislation was touted as community bank relief, when in reality it was a megabank giveaway.  Bank lending is up 80% since the passage of Dodd-Frank in 2010.  Community banks are outperforming the larger banks and credit unions have expanded and are steadily increasing their lending.

“This bill, while masquerading as a community bank relief bill, is really one to undermine our efforts to curtail predatory and discriminatory lending practices. That is why I voted against it.”

Engel Cosponsors Legislation to Reauthorize Children's Hospital Graduate Medical Education (CHGME) Program

  Congressman Eliot L. Engel, a top Member of the House Energy and Commerce Committee’s Health Subcommittee, has cosponsored legislation to reauthorize the Children’s Hospital Graduate Medical Education (CHGME) Program.

CHGME funding allows America’s children’s hospitals to train future pediatricians and pediatric specialists. H.R. 5385, the Children's Hospital GME Support Reauthorization Act, would authorize increased funding for this Program through 2023.

“I can think of few issues more important than ensuring America’s children get quality health care,” Engel said. “The Children’s Hospital Graduate Medical Education Program plays a key role in making sure that happens, and I am proud to be a cosponsor of this bill to reauthorize that Program.”

Among the children’s hospitals that use CHGME funding to train future doctors is Blythedale Children’s Hospital in Westchester. Blythedale’s graduate medical education program is helping to address workforce shortages by training residents in specialty fields like child psychiatry. This bill will help guarantee that important work continues.

“Blythedale Children’s Hospital, New York’s only independent pediatric specialty hospital, is very supportive of CHGME because it would strengthen federal support for vital pediatric training programs and the reauthorization will continue to support the pediatric workforce and protect access to care for children across New York,” said Adam S. Herbst, Esq., Chief Legal, Planning and Government Relations Officer at Blythedale Children's Hospital.