You're watching...
Rep. John Boehner, (R-Ohio), on the flaws with Dodd-Frank and the need to reduce the government’s spending as well as reform the tax code to help bo...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Chris van Holland we talked about earlier.
Leading democratic Budget Committee he said recently that what's been happening in Europe over the last few days only goes to prove.
That austerity doesn't work -- -- the Republicans plan to control spending won't work here in the US equities.
Well there's two sides.
That have to be addressed if we're gonna solve our fiscal -- Woman have to get -- arms -- spent.
And whether it's discretionary spending in mandatory spending and we've got to fix the entitlement programs because -- we don't.
They won't exist for the tens of millions of Americans who depend upon.
But that's only half the equation.
Of the other part of it is that we've got to have a real solid.
Pro growth economic plan.
Our tax system gets in the way.
Of all of our economic growth more Republicans -- over all -- that the tax through both from personal slide and home on the business side.
Bring down the top rate to point 5%.
Do this by eliminating.
A lot of the loopholes and special carve outs.
-- all the deductions in order bring those rates down.
-- would make our companies more competitive in a world government it was spur economic growth.
And both of those both of those activities have to occur if we're serious about solving our long term fiscal -- Tax again coming at the end of the year and you just referred to it.
Are you gonna be able to make changes to the tax code that will benefit the American people and especially small employers who are responsible for so much of this economy.
What -- house that I believe will act of this summer to extend all of the current tax rates.
What will happen in the senate I don't know what the president will do I don't all I know is that the house we'll continue.
To -- responsible legislation.
To address the concerns -- Repeat it today Chase Bank.
Described a new program they're gonna put out for prepaid debit card they said this is the result of Dodd-Frank.
And revenue they lost because of Dodd-Frank.
-- are going to be any rolling back of Dodd-Frank legislation.
Well I think there are serious problems with the of the Dodd-Frank.
Of financial services -- regulation.
I believe that they're probably half a dozen.
A serious flaws in that bill that are causing.
A financial firms.
Two two.
-- an awful lot of money.
Gonna make American financial services firms less competitive.
And drive an awful lot of this business overseas.
You know we created the world capital markets.
And here this bill won't give him the way it of American firms being able to serve us.
That capital market but they help create.
I -- think that there are changes that are necessary.
-- afloat election goes away I think it's gonna go we'll have a chance to make those changes.
Well -- the election goes for the White House or for the house you said that you think there's a one in three chance you might lose the house.
Have -- -- veterans to every chance we'd win was of the election were held today I think there's 0100% chance that we're gonna hold -- but the election's not today at six months from now.
And my job as the as the leader is to ensure that even well all everything falls apart.
We still have vote control of the house -- sort of Mitt Romney wins this election.
He's gonna need to house representatives.
In place blood but Republicans.
To implement -- -- job.
-- up for bid to President Obama gets reelected.
We better have a Republican House possibly stop all of the nonsense in the second term what happens with the -- In -- about a 5050 chance of Republicans when the -- Lot of races out there employed entrepreneur about.
At the end of the day you've been doing this for a couple years now do you think you're gonna have success in what have been your primary goals in terms up reining in spending.
And cutting taxes.
I did I do think.
We've we've spent the last year and a half focused on what the American people want us to do.
-- wants to focus on the economy.
They want jobs and they want us to control spending -- Washington.
But we can't -- by ourselves Democrats still control Washington.
We only have one chamber Democrats control some of the White House.
Of the American people are serious -- -- the economy going him and getting spending under control.
I need more Republicans here abortion.
Thank you sir thank.
