Rep. French Hill

Happy New Year, Jonathan.

Great to be with you.

Congratulations on becoming a dad.

So happy for you and your family.

Look, this proposal is a price control, and I think I've heard from Republicans in the House that they have concerns about it.

What we are in agreement with President Trump on is that we want to reverse the curse of the Biden years and taxation, regulatory and government policies.

So we want to work to pass my 21st Century Housing Act, which would lower home construction costs.

We want to pass the Main Street Capital Access Act.

which would lower compliance cost and refocus the bank regulators on safety and soundness, tailoring regulations to bank complexity.

And when you think about the regional banks you just talked about and the community banks, particularly those banks under $10 billion, they make 60% of the one to four family home loans in this country.

So we believe that with the tax benefits from the one big beautiful bill, lowering compliance costs, focusing and tailoring regulations,

and focusing on dropping the regulatory burdens and trying to build homes in this country.

These are bullish signs for the GDP, for the nation.

We don't want to do anything that throws off that gross domestic product.

And one of the things I heard from colleagues is two-thirds of GDP in the U.S.

is consumption.

And so if credit availability is denied or reduced, that could impact growth for 2026.

Well, I think this is what people that I've heard from in the House Republican Conference have said to me is they think, gosh, this could mean that those Americans with lower credit scores have their credit curtailed in some way, even by a temporary proposal like this.

And, you know, we've campaigned against the government price controls in the 2024 election and Kamala Harris's efforts to put in nationwide rent control, for example.

Well, I just think that Republicans want to work with President Trump to accomplish his goal, reverse the curse of the Biden policies and regulation, taxation, open up the economy besides our tax policy and the big, beautiful bill.