Has the passing of H.R. 3312: Systemic Risk Designation Improvement Act 2017 come and gone under the radar or was I sleeping? There has been a lot of “chaff” to wade through since the passing of the Tax Reform Bill.
However, the passing of the reform of the Dodd-Frank Act through the House financial services committee last Wednesday seems important enough, so I dug into it.
History of H.R. 3312: Systemic Risk Designation Improvement Act 2017
Using Stephen S. Cohen and J. Bradford DeLong’s DW-NOMINATE (dynamic-weight nominal three-step estimation) that employs transitivity to make comparisons across Congress/Senate, we can forecast will a high degree of accuracy whether or not the bill will pass altogether.
For isntance, if legislator B almost always votes to the right of A in one Congress, and C and B serve in another Congress in which A is absent, but C almost always votes to the right of B.C will be assigned an ideal point to the right of A; the replacement of A by C will have moved the party’s (and the Congress’s) average score to the right.
Via Journal of Economic Literature, Vol. LV (December 2017).
The Republican Policy Committee
On Wednesday, December 20, 2017, the House will consider H.R. 3312, the Systemic Risk Designation Improvement Act of 2017 under a closed rule. The bill was introduced on July 19, 2017, by Rep. Blaine Luetkemeyer (R-MO) and was referred to the House Committee on Financial Services, which ordered the bill reported by a vote of 47-12 on October 12, 2017.