"The legislation that passed the Judiciary Committee with a strong bipartisan vote is largely consistent with the principlesof commonsense reform I have proposed and meets the challenge of fixing our broken immigration system, " he said in a statement.
Larry Summers, Barack Obama's chief economic adviser and a former treasury secretary, has said that one of the key principlesof regulatory reform after the recent crisis is that no firm should be able to choose its own regulator.
"I find it hard to believe that after seven years in office only now are ministers prepared to make a 'statement ofprinciples' on pension reform, " he said.
And while he reminded everyone in the room that the bill is not perfect, he noted that it does represent an important step towards the broad principles that need to be part of any immigration reform package.