House Financial Services Chairman Splits With Trump On Farm Relief Plan
The White House plan to provide aid to farmers hit by tariffs as well as the president’s ability to pit the U.S. in an international trade war is evidence that the president has too much power, Rep. Jeb Hensarling said Wednesday.
The Texas Republican, who is chairman of the House Financial Services Committee, said that he disagrees with a new plan to provide $12 billion in bailout relief to farmers and ranchers.
“A tariff is a tax. We have a policy now that is taxing the American consumer and then bailing out U.S. farmers with welfare.
I don’t get it, I don’t agree with it,” Hensarling, who is not seeking re-election, said in an interview at CNBC’s Capital Exchange breakfast series in Washington, D.C. “Congress after Congress has shoveled more power out of Article I of the Constitution into Article II. And then we throw up our hands and say, ‘Gee, I didn’t know he had all this power! How can he just do this?'”
“I thought Barack Obama had too much power. I think that Donald Trump has too much power and I think Congress needs to reassert their authority. Last I read the Constitution, it’s Congress that has the authority over tariffs,” he added.
Hensarling did say the president deserves the bulk of the credit for the current strong economy but he wished Trump wasn’t undermining it with tough trade tactics.
