Tags: jeb hensarling | carrier | deal | indiana

Rep. Jeb Hensarling: Carrier Deal Up to Indiana, Not Feds

Image: Rep. Jeb Hensarling: Carrier Deal Up to Indiana, Not Feds

(AP)

By    |   Friday, 02 Dec 2016 02:30 PM

House Financial Services Committee Chairman Jeb Hensarling opposed the federal buyout of the auto industry, but said he is fine with the deal President-elect Donald Trump and Vice President-elect Mike Pence reached to keep Carrier's jobs in the United States, as the state of Indiana is involved in the process.

"I'm a federal legislator," the Texas Republican told CNN's "New Day" program. "These are the citizens of Indiana. If this is what the citizens of Indiana want to do, bully for them, but the most important takeaways is American business now knows they'll have a president and vice president that cares about business staying in America.

"The economic plan of beatings will continue until morale improves, that is over with."

According to Politico's Playbook, Hensarling has turned down Trump's offer to head the Office of Management and Budget. He was also being considered for secretary of Treasury, but the job went to Steve Mnuchin.

Trump is now looking at Goldman Sachs President Gary Cohn to head up the OMB, reports Politico.

He told the program that it would be better to interview Pence, as the governor of Indiana, about the plan.

"But the other lesson is taxes make a big difference in whether or not jobs stay in America," said Hensarling, and he knows Trump and Pence will "give us a competitive tax code to help keep jobs in America . . . It's a huge lesson that taxes are too high and it's one of the main reasons that jobs go overseas."

According to reports, United Technologies, the parent company of Carrier, does a great deal of business with the Pentagon, but Hensarling said he does not believe in crony consumerism, and has been fighting it for years, and against earmarks and bailouts for banking and the auto industry.

"High levels and complex taxation sends jobs overseas," said Hensarling. "I think it is good that we can lower taxes and keep jobs in America. Some of this other speculation, I don't know, because I don't know the details of the plan, but all in all, keeping jobs in America, that starts off being a very good thing."

Meanwhile, lawmakers need to get "America working again for working Americans," said Hensarling.

"In order to do that, we'll have to get rid of the Dodd-Frank Act," he said. "We've seen free checking at banks cut in half, and working Americans need their bank accounts.

"We've seen credit cards go up 2 percentage points. Some auto loans have gone up $500, and small business lending is at a 25-year low. We need capital to circulate if we're going to get to 4 percent economic growth."

Under the current 2 percent growth, the nation has "stagnant paychecks, diminished bank accounts, and small dreams," he continued.

"We have the Choice Act that's passed out of my committee, and what it says is we're going to substitute private capital for federal control, loss-absorbing private capital. We want free markets, we want competitive markets, we want market discipline, the day of bailouts are gone."

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House Financial Services Committee Chairman Jeb Hensarling opposed the federal buyout of the auto industry, but said he is fine with the deal President-elect Donald Trump and Vice President-elect Mike Pence reached to keep Carrier's jobs...
jeb hensarling, carrier, deal, indiana
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2016-30-02
Friday, 02 Dec 2016 02:30 PM
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