“A few weeks ago, Democrats and Republicans in Congress came together to pass a two-year budget agreement. The compromise lifts the spending caps imposed by sequestration to allow for meaningful investments in the middle class and keeps our economy moving forward. Congress can build on this progress in coming weeks by passing legislation to keep the government open past Dec. 11, but without the kind of brinkmanship that in recent years has risked real damage to the economy.

“Unfortunately, rather than focusing on the needs of American families, some in Congress are attempting to use this funding process to roll back crucial provisions of the reforms to the financial system we put in place after the financial crisis of 2008. The Obama administration strongly opposes this misguided effort to undermine critical elements of financial reform”

***

Read the full Bloomberg View article by Jacob J. Lew here.