BizFed Meets with Congressman McCarthy

Nearly two-dozen BizFed members engaged in an insightful small-group dialogue last month with Congressman Kevin McCarthy, delving into issues ranging from taxes and transportation to education and visa reform – and how to grow California’s economy.

The roundtable (see more photos at facebook.com/bizfed)continues a vital connection for our all of our businesses:As Majority Whip in the U.S. House of Representatives, the Congressman is the third highest ranking member of the House and highest ranking Republican in California (22nd Congressional District) and is a member of the House Financial Services Committee.

A quick recap of the issues we tackled – and some of the Congressman’s thoughts:

·Transportation-Spending Reauthorization: Reauthorization expected to be approved before the year is out, although for less than 5 years. More flexibility needed in federal funding requirements.

·Taxes and Fees: Major year for tax issues with a collection of cuts set to expire at the end of this year and a confluence of factors including November elections and the federal debt ceiling. House expected to offer a one-year extension proposal next month. Highlights need for framework for a new tax policy.

·Healthcare: Congressional focus upcoming (after tax issues) on needed reforms.

·Education: Science, technology, engineering, math education/training (STEM) needed. Community colleges vital.

·Housing: Federal programs have failed; reforms still needed.

·Small Business Focus: Access to capital needs. Boosting Small Business Development Centers. Key to innovation. Need to change tax policies to lessen burden.

·Trans-Pacific Partnership: Crucial to build on momentum of 3 FTAs passage.Focus on freshmen congressmen.

·Visa Reform: Agreement US visa policies need reform to keep US competitive.

·California: Needs a long-term economic development plan. Healthy changes with Top-Two Open Primary Act and term limits. Congressman seeks to unite CA delegates; targeting some specific issues with Congresswoman Karen Bass.

He recommends BizFed leaders read “The Next 100 Years: A Forecast for the 21st Century” by George Friedman

A special thank you to all attendees and BizFed co-hosts for the meeting Randal Hernandez of Union Bank and Gary Toebben of the Los Angeles Area Chamber of Commerce.