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Rep. Kevin McCarthy, (R-Calif.), on efforts to reduce the regulations impacting small businesses in an effort to boost job growth.
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House majority whip Kevin McCarthy's jobs bill's going to be marked up in congress tomorrow we have the chance to speak with them today.
And find out whether his plan and the president's plan -- anything in common here's what He said.
And me Americans -- created plan by the Republicans there is some overlap.
We've past the three trade bill.
From Colombia Panama.
And South Korea.
There is the 3%.
Withholding rule that will pass.
This week where government was supposed to hold 3% when they're doing business was small business that's not.
Government money that's the small businesses money we will pass that this week as well.
There is some access the capital where -- president talked in broads.
Prod brushes about ways to help small business because they're really the life blood of creating jobs we have some legislation coming up -- -- coming out of committee tomorrow.
That reforms.
Some of the restrictions back from 1933.
That allow access to capital for small business to go out soliciting.
It's extraordinary event that -- from 33 years still in existence particularly ones that don't apply to today's the way we do business stick.
What about regulations in general the president claims he's trying to streamline streamline regulations.
-- truth to that.
I have not seen I've heard a lot on the campaign trail and I know He says He can't wait.
But I don't think American to wait any longer I think they need to get him off the campaign -- get back here to work because in in the job creators plan if you look on the back.
These are all the bills that have -- that are sitting in the senate.
There's the forgotten fifteen -- deal just with job creation that's never been taken out.
There is the rolling back when you have from.
Regulations have been holding us back and -- wind down business.
And that's the sad part is when you look at job growth it's really too small business if you take the end of the last recession 2001.
To 2007.
Many people say that was a big time in America for growth but you analyze where the growth came from.
If you're a company with 500 employees or fewer you had 87 million jobs the economy if you're a bigger company five employees or more you cut a million.
Small businesses where it all starts -- under this administration.
Our startups are at its lowest point in the last sixteen years because.
A lot of the regulations the entry to market is too great the access to capital.
That's why and legislation I have tomorrow will help but the access to capital.
The regulation reforms that we have put through what actually allow us to have the clean air and clean water.
But allow business to grow all right well.
It can you really just tweak around the edges of of some of the big.
Big items that have passed dealing with -- with financial regulation like frank dots.
You know if it's hard just to tweak here you're trying to get -- room to continue to compete.
I think as Americans we have to start looking long term.
We have to realize in America we do compete with other countries and we're at a disadvantage one from our tax code.
So whatever product we make here is gonna sit on their shelves and costs more money.
We should allow us to compete on the same level playing field -- take those companies we compete those countries we compete with.
And let's take the average put a level playing field and America so we haven't won a start and I guarantee you.
We will win I count on this country what is thing that we have at the others -- freedom.
Is it is that one of places where -- overlap of the president of the president some of the prince's people anyway claim He wants to lower the corporate tax rate can you agree on act.
I can agree on lowering the corporate tax rate also agree on closing the loopholes broadening its simplifying the tax but the difficulty is the president can never agree.
We sat down what this president even in the debt limit talking about creating a new tax process because.
You cannot get out of this problem just by cutting.
I know the president has grown this economy 84% discretionary spending in just three years well for the for only the second time since World War II.
Discretionary spending has gone down year over year with Republicans being in office only for eleven months but we'll only get out of here -- we grow the economy.
That means you're gonna have to change this tax system.
To unshackled this economy Atlantic -- All right well we've had a lot of plans out there by Republican contenders.
We have the night at nine -- -- We now know that it's parents that Perry once a year the flat tax of 20% flat tax what do you prefer.
I tell you what I love the idea that we're talking about tax reform put them all out there let's -- the best idea -- at the end of the day.
I like one that is simple.
That is lowered that allows us to compete is the one thing that makes America great is the rule of law that people are treated fairly and freely.
The idea that you eliminating these these loopholes and make it fair process.
That's good for all America and that lets us to compete with other countries are.
I'm not I'm not gonna let this although I'm not gonna wanna -- so easily what what do you think is simpler than 999 plan are the very flat tax.
Well the 999 plan ahead I have a problem with a -- eight.
National sales tax is remember when the tax code came in -- 1913 it was never -- was only 7% is never move above 10%.
Less than five years in the 77%.
So I kind of like 88 -- version long term.
