Sep 28, 2016

Leader McCarthy on Shimon Peres, Economic Growth, and Innovation

Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) appeared on Fox Business this morning, discussing the passing of former President of Israel Shimon Peres and how the House has promoted economic growth through innovation.

Excerpts of the interview are below, or watch online here.

On the passing of Shimon Peres:

“My condolences to Israel and the Peres family. I knew him very well. Many times I met with him in Israel when he was President and in America. He had an unbelievable character and ability about him—a soft-spoken man, but the words that he said you would always remember. And I remember this one time of him speaking in our rotunda—he was receiving the gold medal—and what he said was he knew about America’s exceptionalism.

“He said America was the greatest country to ever be on the face of the earth. But he said our greatness came from not what America took but what America gave. That America would give the ultimate sacrifice of life so another country could have freedom. With that freedom comes human rights and a stronger economy. Not only was he a great leader throughout, but he understood what America meant. He understood and he worked for that, for freedom and liberty for others.”

On our country’s need for growth:

I look at all the disruption in politics, and I’ll say the number one cause of that is lack of growth. The middle class is worth less today than we were eight years ago. This idea is causing more havoc and problems throughout America and around the world. We need to solve our growth problem.”

On how to increase economic growth through innovation: 

The House passed a bill that “if you own 1% or less of the company and you’ve got options in there, that you weren’t taxed on it when you were still a private company until you went public. Because when you think about the economy and you look at places in the economy, we have these company called gazelles. They are little startups that grow at 20% a year or double every two years. They make up 4% of new startups, but they account for 70% of all new jobs. What if we expand and created new gazelles? Because we are at our lowest point in 18 years of new startups [because of] the amount of regulation going on.