Camp Commends Obama on Compromise Message

GOP Rep. applauds president for "engaging in a conversation" on Bush tax cuts, tells Al Hunt reduced spending needed for "more sustainable" government.

"POLITICAL CAPITAL WITH AL HUNT": Republican Representative Dave Camp

From "Political Capital with Al Hunt," to air tonight at 7:00PM ET.

Courtesy of BLOOMBERG TELEVISION

Rep. Camp on a proposal to increase taxes as part of a plan to reduce the deficit:

“I don't like the idea of tax increases. The reason I don't is we have not demonstrated that we're serious about reducing spending. There's been a really dramatic run-up in spending in the last couple years. We need to demonstrate to the American people that we're serious about reducing spending.”

“If we raise revenue, we'll never get to the reductions in spending that we need to see to have a more sustainable government, a government that can be supported. We can see the preview out there: Greece, Ireland. The problems are there, and if we continue to let our debt grow, we've got significant problems.”

"So we've got some more work to do. But I do think they (fiscal commission) are to be commended for at least coming together with a proposal to try to reduce our deficit. It's so important for job creation, but we've got some more work to do."

Rep. Camp on whether he will support the bill to retaliate against Chinese goods if China doesn’t revalue the yuan:

“I would expand a bill of that kind. That was the only tool I had available to me, and I do think the currency issue is a problem, but we have many others with China, intellectual property, piracy, others, and I would favor a multi-issue, as well as a multilateral approach to China. Currency is one of the problems; it's not the only problem that we have with China. We have a very complex relationship there, as you well know. I don't think we'll see anything move quickly on that issue.”

Rep. Camp on President Obama's willingness to compromise and extend the Bush tax cuts:

“I commend the president for engaging in a conversation on this…We need to have his support for anything to be enacted. Right now, I'm in the minority party, and I hope we can do this in the lame-duck session.”

“Frankly, these votes should have occurred before the election so the American people knew where we stood on this, but I think it's important to extend all the current tax laws, not to have a tax increase on anybody, and to make it as certain and permanent as possible, because the minute you put in an expiration time, people start calculating the uncertainty.”

“One of the things that has prevented our economy from growing and prevented people from getting jobs is that there's so much uncertainty on the tax side, as well as the regulatory side, for that matter, but particularly on the tax side. I think we need certainty. We don't want to have small businesses see higher rates. We don't want individuals and families and employers to see higher rates. I'm for extending them all and making it permanent.”

Rep. Camp on the likelihood of a South Korean trade deal in the next couple of months:

“It depends on the Koreans. I think what the Koreans are being asked to do is not hard for them to do. We need their assurances that we'll have market access, and that's what this is about. Everywhere I go, people say to me, ‘I'm for trade. I just want it to be fair.’”

“What this would do, if we can make these changes, would make the Korean trade agreement fairer for both parties. Frankly, the Koreans win, too. I'm interested in the U.S. I think it's in our interest to have a trade agreement, but I also think it's in theirs, too.”

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