Bloomberg Audio Studios, podcasts, radio news. After decades of service to his constituents in Arkansas, has the worst job in Washington. He has had a House Financial Services Committee, the Republican from Arkansas, and he joins us right now, French, I got eight ways to go here, but I got to look to the second third week of March, where the challenge is a government shutdown. Budget challenges. You're going to be in the heart of this. So I'm going to go to someone on your committee like Monica de la Cruz, the Latina from Texas. Fine, Okay, the conservative southerns that don't want to budge on the budget. How are mainstream Republicans like you going to convince them to keep the United States of America running well?

Bloomberg Audio Studios, podcasts, radio news. After decades of service to his constituents in Arkansas, has the worst job in Washington. He has had a House Financial Services Committee, the Republican from Arkansas, and he joins us right now, French, I got eight ways to go here, but I got to look to the second third week of March, where the challenge is a government shutdown. Budget challenges. You're going to be in the heart of this. So I'm going to go to someone on your committee like Monica de la Cruz, the Latina from Texas. Fine, Okay, the conservative southerns that don't want to budge on the budget. How are mainstream Republicans like you going to convince them to keep the United States of America running well?

Thomas, is such an important question. Great to be with you this morning. This is something we should have done in December. It was a horrible mistake in my judgment not to complete the funding for FY twenty five in the previous Congress. Under the Biden administration, we would have had roughly the same characteristics we would have had an incoming Trump administration and incoming Senate. I think we would have gotten substantially the same deal, and now we're on trying to do budget reconciliation, which is a much more important task. And yet we face, as you point out, a government shutdown. Republicans have to stick together. We should use the Fiscal Responsibility Act numbers from last year and negotiate with the Senate now a Republican Senate who wants to spend a little bit more on defense, and get this behind us so that we could go to the main event of focus on reforming regulation, reforming productivity in the federal government, reforming spending, extending pro growth tax cuts.

Thomas, is such an important question. Great to be with you this morning. This is something we should have done in December. It was a horrible mistake in my judgment not to complete the funding for FY twenty five in the previous Congress. Under the Biden administration, we would have had roughly the same characteristics we would have had an incoming Trump administration and incoming Senate. I think we would have gotten substantially the same deal, and now we're on trying to do budget reconciliation, which is a much more important task. And yet we face, as you point out, a government shutdown. Republicans have to stick together. We should use the Fiscal Responsibility Act numbers from last year and negotiate with the Senate now a Republican Senate who wants to spend a little bit more on defense, and get this behind us so that we could go to the main event of focus on reforming regulation, reforming productivity in the federal government, reforming spending, extending pro growth tax cuts.

Give us your sense of how much optimism you have that's going to happen here. I know there's a lot of nervousness and apprehension that time is running short. There are different views on this. We were spending the last few weeks talking about will be one bill or two biller? Three b three bills. I know you've been involved in the same game there on the hill. Do you see a path forward here? How much clarity do you have at this point?

Give us your sense of how much optimism you have that's going to happen here. I know there's a lot of nervousness and apprehension that time is running short. There are different views on this. We were spending the last few weeks talking about will be one bill or two biller? Three b three bills. I know you've been involved in the same game there on the hill. Do you see a path forward here? How much clarity do you have at this point?

Yeah?

Yeah?

Well, first, on Tom's question about f y twenty five finishing f y twenty five before March fourteenth, I have medium confidence the worst case scenario would be to continue a CR till like September thirtieth. First of all, once you hit April first, you'll have a one percent across the board cut in f y twenty five spending and crs are terrible for government management. We'll end up spending billions more because we operate under a CR. We won't be able to start any new programs at the Defense Department, which is a priority for the administration. So that makes me lean to yes, we'll get something done on March fourteenth, on fiscal twenty five, as the budget reconciliation the big game. I do support one bill here in the House because I think that's how we hold the Republican coalition together best here. And as you know, Senator Graham and the Senate's taking a different approach.

Well, first, on Tom's question about f y twenty five finishing f y twenty five before March fourteenth, I have medium confidence the worst case scenario would be to continue a CR till like September thirtieth. First of all, once you hit April first, you'll have a one percent across the board cut in f y twenty five spending and crs are terrible for government management. We'll end up spending billions more because we operate under a CR. We won't be able to start any new programs at the Defense Department, which is a priority for the administration. So that makes me lean to yes, we'll get something done on March fourteenth, on fiscal twenty five, as the budget reconciliation the big game. I do support one bill here in the House because I think that's how we hold the Republican coalition together best here. And as you know, Senator Graham and the Senate's taking a different approach.

Congressman Hill, what is the view from the Longworth House Office building of what we're seeing the White House do? Of course, the historical precedent has been that Congress controls the purse, makes decisions about funding. We are seeing this administration take a more active role, shall we say, in determining what gets funded and what doesn't. How much comfort do you have with seeding some of that power to your friends and colleagues in the other branch, the executive branch Pennsylvania Avenue.

Congressman Hill, what is the view from the Longworth House Office building of what we're seeing the White House do? Of course, the historical precedent has been that Congress controls the purse, makes decisions about funding. We are seeing this administration take a more active role, shall we say, in determining what gets funded and what doesn't. How much comfort do you have with seeding some of that power to your friends and colleagues in the other branch, the executive branch Pennsylvania Avenue.

Well, thank you. Find on money that's appropriated, Congress does control those purse strings and they direct that spending. But in the broad swaths of federal spending, you have directions to agencies spend this money on these general topics, and that's what the appropriated money says. And then you have article to authority with a lot of discretion about how to spend it. And I think that's what President Trump's attempting to look at. Is the spending done at the end of the Biden administration and proposed to be spent here in the first few weeks of his administration. Is it in alignment with his goals that he has in foreign policy, for example at USAID And that's a classic article too, Authority to take a look at that, make sure it's in alignment with their policies. With that said, you can't do these things without both the legislative branch and the executive branch, okayately working together.

Well, thank you. Find on money that's appropriated, Congress does control those purse strings and they direct that spending. But in the broad swaths of federal spending, you have directions to agencies spend this money on these general topics, and that's what the appropriated money says. And then you have article to authority with a lot of discretion about how to spend it. And I think that's what President Trump's attempting to look at. Is the spending done at the end of the Biden administration and proposed to be spent here in the first few weeks of his administration. Is it in alignment with his goals that he has in foreign policy, for example at USAID And that's a classic article too, Authority to take a look at that, make sure it's in alignment with their policies. With that said, you can't do these things without both the legislative branch and the executive branch, okayately working together.

Then Frenchchill, you know, you and I have known each other since time began, and I've never seen a private citizen in the Oval office, standing there with his arms crossed like he owned the high ground. You are one of the rare beasts that came to Congress actually running a business in Little Rock. What's your advice to your fellow moderate brethren of the Democratic and Republican persuasion? What do they need to do in the coming days?

Then Frenchchill, you know, you and I have known each other since time began, and I've never seen a private citizen in the Oval office, standing there with his arms crossed like he owned the high ground. You are one of the rare beasts that came to Congress actually running a business in Little Rock. What's your advice to your fellow moderate brethren of the Democratic and Republican persuasion? What do they need to do in the coming days?

Well, first, let's look at doje Tom. It's a good idea to go in and look at for efficiency and government in the executive branch and make recommendations to the legislative branch when you want to spend money differently or have a different number of full time equivalent positions in an agency. That's perfectly a good suggestion, and we haven't done it in years. I'd say since nine to eleven. The government's been focused on growing, not remotely focused on productivity or realigning or investing in technology or doing anything in a different way. We've been completely distracted by the war on terrorism, the OA crisis, and then the recovery from that, and then the pandemic. So I think it's over time to scrape the barnacles from the ship of state when it comes to regulatory policy, personnel policy. But there's a right way and a wrong way to do it, And I would encourage the administration to plan, communicate, and consult with Congress on how the best way to do that is.

Well, first, let's look at doje Tom. It's a good idea to go in and look at for efficiency and government in the executive branch and make recommendations to the legislative branch when you want to spend money differently or have a different number of full time equivalent positions in an agency. That's perfectly a good suggestion, and we haven't done it in years. I'd say since nine to eleven. The government's been focused on growing, not remotely focused on productivity or realigning or investing in technology or doing anything in a different way. We've been completely distracted by the war on terrorism, the OA crisis, and then the recovery from that, and then the pandemic. So I think it's over time to scrape the barnacles from the ship of state when it comes to regulatory policy, personnel policy. But there's a right way and a wrong way to do it, And I would encourage the administration to plan, communicate, and consult with Congress on how the best way to do that is.

As for the right way to do it, I think of you as a young man serving as a deputy Assistant Secretary of the Treasure Department at aer Nicholas Brady, and I wonder if you could have imagined you would have non appointed, non confirmed private sector individuals going in and looking at the payment system there in the Treasury Department. Does that make you uncomfortable having the history that you have with the Treasury Department to see the way that Doge has been approaching the sort of fiscal health the books, for lack of a better word, of the federal government.

As for the right way to do it, I think of you as a young man serving as a deputy Assistant Secretary of the Treasure Department at aer Nicholas Brady, and I wonder if you could have imagined you would have non appointed, non confirmed private sector individuals going in and looking at the payment system there in the Treasury Department. Does that make you uncomfortable having the history that you have with the Treasury Department to see the way that Doge has been approaching the sort of fiscal health the books, for lack of a better word, of the federal government.

Well, when I heard about that story over the weekend last week, called Secretary of Ascent. We talked about it last Monday, and he assured me that anything that Doge was doing was in the control of the official Treasury Department and that some people were working there for it review purposes. But he implied to me that he's got that under control. For making those recommendations, We're going to hold him accountable. He's the Treasury Secretary. So anything that Doge is doing in a cabinet agency, we just need to remind the American people, Members of Congress, the Trump administration, we're holding the Cabinet Secretary accountable for, as I say, planning, efficiency changes, budget change, personnel changes. We're holding them accountable here in Congress.

Well, when I heard about that story over the weekend last week, called Secretary of Ascent. We talked about it last Monday, and he assured me that anything that Doge was doing was in the control of the official Treasury Department and that some people were working there for it review purposes. But he implied to me that he's got that under control. For making those recommendations, We're going to hold him accountable. He's the Treasury Secretary. So anything that Doge is doing in a cabinet agency, we just need to remind the American people, Members of Congress, the Trump administration, we're holding the Cabinet Secretary accountable for, as I say, planning, efficiency changes, budget change, personnel changes. We're holding them accountable here in Congress.

We got some news overnight that Jonathan mccurernan, formerly the FDIC, has been picked to head the CFPB. And this has been an agency that's been in the crosshairs. I think it's safe to say you've had your criticisms with that agency over these last few years. And I want to ask you about some comments that the general lady from Cambridge, Massachusetts made on our heir last night, the senior Senator from Massachusetts, Elizabeth Warren, and she said, look, it's not up to the executive branch to decide whether or not an agency like the CFPB exists or what form it takes. That's up to Congress. And the point that she's making is you and other lawmakers, if you don't like what this bureau, this agency is doing, you could take action yourselves. Lawmakers could decide whether or not it should continue to exist. Do you agree with the argument that she's making there that fundamentally, it's not up to the executive branch, not up to this administration to decide what agencies, what parts of this government should should stick around or be disappeared.

We got some news overnight that Jonathan mccurernan, formerly the FDIC, has been picked to head the CFPB. And this has been an agency that's been in the crosshairs. I think it's safe to say you've had your criticisms with that agency over these last few years. And I want to ask you about some comments that the general lady from Cambridge, Massachusetts made on our heir last night, the senior Senator from Massachusetts, Elizabeth Warren, and she said, look, it's not up to the executive branch to decide whether or not an agency like the CFPB exists or what form it takes. That's up to Congress. And the point that she's making is you and other lawmakers, if you don't like what this bureau, this agency is doing, you could take action yourselves. Lawmakers could decide whether or not it should continue to exist. Do you agree with the argument that she's making there that fundamentally, it's not up to the executive branch, not up to this administration to decide what agencies, what parts of this government should should stick around or be disappeared.

Well, as a general matter, you'd have to look at statute by statute, agent by agency by that. But as a general statement, sure, I mean, Congress creates agencies, Congress can end agencies. There's nothing so permanent though, as a temporary government program, as President Reagan reminded us. But let's talk about Elizabeth Warren. She's the founding mother of the CFPB. She created it to be insulated from oversighted, insulated from appropriations, and insulated from any meddling by Congress. And that's what irritated Congress, and that's why I support changing the agency dramatically.

Well, as a general matter, you'd have to look at statute by statute, agent by agency by that. But as a general statement, sure, I mean, Congress creates agencies, Congress can end agencies. There's nothing so permanent though, as a temporary government program, as President Reagan reminded us. But let's talk about Elizabeth Warren. She's the founding mother of the CFPB. She created it to be insulated from oversighted, insulated from appropriations, and insulated from any meddling by Congress. And that's what irritated Congress, and that's why I support changing the agency dramatically.

But Frenchhill, well, I got a couple final questions. This is important, As you mentioned the senator from the Commonwealth, where do we find a middle ground? You are one of the leaders of the middle ground in Washington. How does Senator Warren and someone over on the MAGA write find a common feature around people like french Hill.

But Frenchhill, well, I got a couple final questions. This is important, As you mentioned the senator from the Commonwealth, where do we find a middle ground? You are one of the leaders of the middle ground in Washington. How does Senator Warren and someone over on the MAGA write find a common feature around people like french Hill.

Well, it's a great question, and I've hearded Senator Warren to consider that exactly. She's concerned about the big banks taking over the world. Well, she's created that with Dodd Frank. It concentrates more power into those big banks. I've encouraged her to consider tailoring policies for all the rest of the banking system, and also considering compromise on the CFPB but putting it under congressional appropriations and having a bipartisan commission right overseas its work. Those are middle ground points.

Well, it's a great question, and I've hearded Senator Warren to consider that exactly. She's concerned about the big banks taking over the world. Well, she's created that with Dodd Frank. It concentrates more power into those big banks. I've encouraged her to consider tailoring policies for all the rest of the banking system, and also considering compromise on the CFPB but putting it under congressional appropriations and having a bipartisan commission right overseas its work. Those are middle ground points.

French, I don't care. Here's what I care about. My father worshiped Bill Dickie of Little Rock, Arkansas, the x Yankees million years ago. Your minor league ball team, the Arkansas Travelers, Texas League. They play in the Dickey Stadium. How's a state of minor league baseball in Little Rock? Is we have pitchers and catchers today.

French, I don't care. Here's what I care about. My father worshiped Bill Dickie of Little Rock, Arkansas, the x Yankees million years ago. Your minor league ball team, the Arkansas Travelers, Texas League. They play in the Dickey Stadium. How's a state of minor league baseball in Little Rock? Is we have pitchers and catchers today.

Boys strong. There's no better place to be on an early summer night. The price is right, the fun is great, and it's fun to beat the teams in the Texas League. And it's something I love doing with not only my family but all my friends.

Boys strong. There's no better place to be on an early summer night. The price is right, the fun is great, and it's fun to beat the teams in the Texas League. And it's something I love doing with not only my family but all my friends.

There were the Seattle Mariners. You think I could see the Red Sox.

There were the Seattle Mariners. You think I could see the Red Sox.

You know down in Arkansas, what kind of maybe every time I feel in on this show, we have like three trips we need to take on the heels of each show. That Little Rosters and Baseball sounds like it's a plan to me.

You know down in Arkansas, what kind of maybe every time I feel in on this show, we have like three trips we need to take on the heels of each show. That Little Rosters and Baseball sounds like it's a plan to me.

We'll put you right, We'll put you right behind the home plate.

We'll put you right, We'll put you right behind the home plate.

In honor of the beloved Barney Frank. I hope you do as well as Barney Frank. He's having a Financial Services committee in Washington, the Republican little rock Frendshill joining us

In honor of the beloved Barney Frank. I hope you do as well as Barney Frank. He's having a Financial Services committee in Washington, the Republican little rock Frendshill joining us