The law has put the nation on "a collision course with economic mediocrity," said Rep. Scott GarrettScott GarrettHuizenga to chair influential subcommittee overseeing Wall Street Congress asserts itself The Hill's 12:30 Report MORE (R-N.J.).
"The bill itself was too big and failed to address the root cause of the financial crisis, and that’s housing," added Rep. Judy Biggert (R-Ill.).
They also said the law failed to end Too Big to Fail, to level the economic playing field, and to strengthen the economy.
In fact, conservative lawmakers were willing to give the Wall Street reform law just one passing grade — an 'A' for expanding the size of government.
"Where we need more jobs, what we're getting is more government," said Rep. Randy NeugebauerRandy NeugebauerWarren’s regulatory beast is under fire – and rightfully so Dem senators to Trump: Don't tell consumer bureau chief 'you're fired' Overnight Finance: Carson, Warren battle at hearing | Rumored consumer bureau pick meets Trump | Trump takes credit for Amazon hirings | A big loss for Soros MORE (R-Texas).
One year after the president signed the sweeping overhaul into law, the fate of the measure is still very much up for grabs. Regulators have been in overdrive since its enactment, drafting and finalizing hundreds of rules, with many still undefined.
To combat that effort, Republicans have pushed to cut the budgets of those regulators when possible, while pushing legislation modifying or repealing some provisions of the law.
However, a broad effort to repeal the law has yet to gain substantial traction, even as bills to do just that have been introduced in both the House and Senate.