Rep. Jeb Hensarling on Tax Plan, Powell, Regulation

The transcript discusses the timeline for tax reform, aiming for completion before Thanksgiving, and its potential benefits for small businesses and families. It addresses concerns from the Realtors Association about mortgage deductions, emphasizing the importance of economic growth. The conversation shifts to Federal Reserve leadership, praising Jay Powell and suggesting John Taylor for a vice-chair role. Finally, it highlights the need for banking regulation reform to boost economic growth, mentioning the Financial Choice Act and its potential impact.

What is the primary goal of the tax reform discussed in the first section?

• To eliminate all deductions

• To reduce taxes for the wealthy

• To simplify and make the tax code more competitive

• To increase government revenue

How does the speaker suggest addressing the concerns of the Realtors Association?

• By reducing interest rates

• By eliminating the mortgage deduction

• By focusing on economic growth

• By increasing the standard deduction

What is the speaker's opinion on Jay Powell's nomination to the Federal Reserve?

• He is the president's nominee and deserves a chance

• He would make a great chairman

• He should not be involved in fiscal policy

• He is unqualified for the position

What is one of the main challenges in passing the Financial Choice Act?

• Opposition from community banks

• Lack of support from the Senate

• Complexity of the legislation

• Insufficient economic growth

According to the speaker, what is necessary for the economy to truly take off?

• More tax cuts for corporations

• Regulatory reform and unleashing capital

• Higher interest rates

• Increased government spending