Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) appeared on Bloomberg today to discuss America’s economic outlook and the Republican economic agenda.
Excerpts are below, or watch online here.
On how the Republican agenda has improved the small business climate:
“Well if you look at a small business or are looking to start a small business, you just had the lowest rate cut in more than 40 years to start a small business. Access to capital matters though too. So you look at the number of bills that we passed, enhancing the ability to form more capital. I think you will find more people willing to invest. If you go back to our JOBS Act you can get private investors too, different than even when it comes to banks.”
On the success of the regulatory agenda:
“Let’s first start with regulations. When we first came in, there’s this law on the books called the Congressional Review Act. Only one time in history had it ever really been used successfully. And it allows you to look back at a regulation and repeal…. When an agency proposes a new regulation, they’ll score it, meaning what does it cost to business. If it reaches $100 million, it’s a major ruling…. Well, we just took the Congressional Review Act and repealed 15.”
On the need for job training to help workers across America:
“On job training, we have some of the lowest unemployment. So what we are looking at is how do we get those people who are out of work…. how do we retrain them, get them back into the workforce? Because the [labor force] participation rate—now I may get it off a little bit—but it was about 62.7%…. Well that is a bad number to have. We want that participation rate higher. So we have got to look at that retraining…. Then what’s going to happen is wages are going to increase because of more competitiveness. So we should work with the states for retraining and vocational training. “
On how we should approach infrastructure for a stronger American future:
“If you look at what the White House put out, it’s public-private partnership. We need to work together. We have found in states they have done these pilot programs that have been very successful. What we really should look at is what America should look like in the next 50 to 100 years and lay that foundation.”