Jeb Bush presidential campaign, 2016/Banking policy
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 Jeb Bush |
Former governor of Florida (1999-2007) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- During the Republican debate on November 10, 2015, Jeb Bush said another financial crisis could be avoided if there were higher capital requirements to avoid concentrated assets. He also criticized the compliance costs of Dodd-Frank on community banks.[2]
- Bush introduced his regulatory reform platform to diminish current regulations and decentralize regulatory authority on September 22, 2015. As part of his agenda, Bush said he would "work with Congress to repeal significant portions of the 2010 Dodd-Frank financial law, and we will reform the complex set of rules that perpetuate too-big-to-fail financial institutions."[3] He further criticized Dodd-Frank, calling it a "two-tiered banking system" where a "few huge financial institutions sit securely at the top, insulated from competition by regulations that impose heavy compliance burdens on their smaller rivals."[4]
- As part his tax plan announced September 8, 2015, Bush called for the end of the carried interest tax loophole allowing fund managers to treat their earned income as capital gains rather than salary and be, consequently, taxed at a lower rate.[5][6]
- Following his second term as governor of Florida in 2007, Bush worked with financial institutions on Wall Street for seven years. Although he was not an employee of either company, he served in a client-facing role for Barclays and the now-defunct Lehman Brothers, The Wall Street Journal reported.[7]
- In 2006, Bush called excessive executive compensation a "threat to capitalism." He said, "Large rewards for great results can still be attacked, but they're very defensible. But if the rewards for CEOs and their teams become extraordinarily high with no link to performance - and shareholders are left holding the bag - then it undermines people's confidence in capitalism itself."[8]
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See also
Footnotes
- ↑ [http://www.nytimes.com/2016/02/21/us/politics/jeb-bush.html?_r=0 The New York Times, " Jeb Bush Bows Out of Campaign, Humbled and Outgunned," February 20, 2016]
- ↑ The Washington Post, "Who said what and what it meant: The 4th GOP debate, annotated," November 10, 2015
- ↑ The Wall Street Journal, "How I’ll Slash the Regulation Tax," September 22, 2015
- ↑ Jeb Bush for President, "The Regulatory Crisis in Washington," September 22, 2015
- ↑ The Wall Street Journal, "Jeb Bush: My Tax Overhaul to Unleash 4% Growth," September 8, 2015
- ↑ The Hill, "Bush tax plan takes swipe at Wall Street," September 8, 2015
- ↑ The Wall Street Journal, "How Jeb Bush Spent His Years on Wall Street," August 4, 2015
- ↑ Fortune, "The real CEO pay problem," July 10, 2006
