Financial CHOICE Act of 2017 (H.R. 10) - Plain Language Summary

This Act is designed to create hope and opportunity by making significant changes to financial regulations. Its goal is to end government bailouts of big banks ("Too Big to Fail"), hold Wall Street and Washington accountable, reduce excessive rules, and improve economic freedom and access to credit and capital for investors, consumers, and small businesses.

Summary

In simple terms, this bill rolls back many parts of the Dodd-Frank Wall Street Reform Act to reduce government intervention in the financial sector. It ends taxpayer-funded bailouts and makes big financial firms face bankruptcy like other businesses would. It holds Wall Street more accountable by increasing penalties and making enforcement more transparent. It requires federal financial regulators to do thorough cost-benefit analyses and submit important rules to Congress for approval.

It also helps small businesses and start-ups by relaxing regulations that make it hard to raise money, simplifies crowdfunding, and eases requirements on community banks and credit unions. Financially strong banks get regulatory relief. The Consumer Financial Protection Bureau becomes an independent agency with reformed powers and greater transparency. Lastly, the bill enhances Fed transparency and creates an independent insurance advocate to improve U.S. insurance oversight and international cooperation.

Overall, the Act aims to promote economic growth, protect taxpayers and consumers, increase regulatory accountability, and restore freedom and fairness in financial markets.

Summary of H.R. 36 - Pain-Capable Unborn Child Protection Act

This law focuses on protecting unborn children who are believed to be capable of feeling pain, specifically after 20 weeks from fertilization (conception). It sets rules around abortions performed after this point and includes requirements for doctors, protections for women, and penalties for violations.

Main Points of the Law

1. Why 20 Weeks?

Medical evidence cited in the bill shows that unborn children have developed the biological ability to feel pain by about 20 weeks after fertilization. The bill explains that:

• Unborn babies have pain receptors and nerves connected to the brain by 20 weeks.
• They respond to painful stimuli similarly to adults, including physical reactions and increased stress hormones.
• Surgery on unborn babies before 20 weeks is done with anesthesia, which reduces pain and stress.
• Scientific research supports that pain perception doesn’t necessarily require parts of the brain some thought were essential.

2. Restrictions on Abortions After 20 Weeks

The law makes it illegal for anyone to perform or attempt an abortion on a fetus that is 20 weeks or older (post-fertilization age), except in certain cases:

• If the abortion is necessary to save the life of the pregnant woman due to a serious physical health risk.
• If the pregnancy is a result of rape (for adult women, with counseling or medical treatment done at least 48 hours before) or if the pregnancy is due to rape or incest involving a minor (with prior official reporting of the incident).

3. Requirements for Doctors

When performing an abortion after 20 weeks under the allowed exceptions, doctors must:

• Determine the fetus’s age carefully before proceeding.
• Use the method that gives the unborn child the best chance of survival outside the womb, whenever possible.
• Have a second doctor trained in newborn care present if the fetus could potentially survive outside the womb.
• If the child is born alive after abortion attempts, provide full medical care just as would be given to any premature newborn, and admit the child immediately to a hospital.

4. Paperwork and Consent

The law requires doctors to:

• Get signed informed consent from the pregnant woman before the abortion procedure, which includes explaining the fetus’s age, the legal restrictions, and the care requirements for a child born alive.
• Keep detailed documents of any counseling or medical treatment related to rape or incest, and of the informed consent in the medical records.

5. Penalties

If someone violates this law by performing an abortion after 20 weeks without meeting the requirements or exceptions, they can face:

• Criminal penalties: fines or up to 5 years in prison.
• Civil lawsuits: women or parents of minors can sue for damages and legal fees.

6. Protection for Women

Women who receive abortions under this law cannot be prosecuted for violations. The focus of legal consequences is on those who perform or attempt prohibited abortions.

7. Data Collection

Doctors performing abortions after 20 weeks under exceptions must report yearly summaries to the government about the number and details of these abortions. The reports will be anonymized to protect patient privacy, and public summaries will be published annually.

Summary

H.R. 36 aims to prohibit abortions on unborn children who are at least 20 weeks post-fertilization, based on the view supported by this bill that unborn children can feel pain by that stage. Exceptions are made for cases involving the mother’s life risk or pregnancies resulting from rape or incest (with conditions). The bill also describes how such abortions must be performed when allowed, protects newborns if they survive an abortion attempt, and sets penalties for violations while protecting women from prosecution.