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.

Wall Street reform has made our financial system stronger, safer and more resilient. For the first time, a single body -- the Financial Stability Oversight Council -- is responsible for looking across the entire financial sector to identify threats to financial stability and respond effectively. We have an updated regulatory framework that focuses the most stringent oversight on the largest and most complex companies, those that pose the greatest risks. And the Consumer Financial Protection Bureau has the sole task of protecting Americans from unfair, deceptive or abusive financial practices. 

Given the progress we have made, and with the economy showing real signs of strength, it would be irresponsible to turn the clock back to the era when these monitors were not in place and we experienced the worst financial crisis since the Great Depression. Yet that is exactly what some Republicans are attempting to do, and Democrats should not join them.

Members of Congress seeking to tuck controversial financial reform legislation into "must-pass" spending bills are hoping that no one notices. Proponents of unraveling reform claim that most provisions make only small tweaks and technical fixes. But many of the changes masquerading as small or technical are significant, and they would weaken our financial system. The administration has made clear that it will defend Wall Street reform against such efforts, which would increase risk; reduce consumer, investor or taxpayer protections; or impede the ability of regulators to do their jobs.