The Trump Administration endorsed several provisions of House Financial Services Chairman Jeb Hensarling's (R-Texas) Financial CHOICE Act on Tuesday, but made it clear that it considers the legislation as only the first step toward overhauling Dodd-Frank.
"The Administration supports passage of the [the bill]as a necessary and important step in moving financial reform legislation through the Congress," the Office of Management and Budget said, in a "Statement of Administration Policy."
OMB continued, "Upon passage, the Administration looks forward to working with the Senate on arriving at a final piece of legislation."
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