Bush slams CFPB regs, sounds free market theme
When former Florida Gov. Jeb Bush spoke to a standing-room-only crowd at the NADA Convention, he outlined ways to get government out of the way of business to create fair and free opportunities for all Americans.
His theme resonated with dealers as he used the example of the CFPB rules on auto financing, that dealers find burdensome. The worst part is that unelected bureaucrats have more power than Congress in this particular case. Bush cited NADA research that shows regulations add $3.2 billion in costs that the auto industry must pass on to buyers. The total equates to about $2,400 per dealership, per employee, per year, he said.
Those costs to comply, those costs of regulation, could have gone for higher pay to allow people more disposable income, or they could have gone to create more jobs, Bush said.
We are in the fifth year of recovery, but still 60 percent of Americans believe we are still in a recession. Theyêre not dumb, because they are in a recession, he went on. The majority of Americans continue to have weak paychecks that have led them to withdraw from building families, communities and careers.
When asked, point blank, by outgoing NADA chairman Forrest McConnell whether he intended to be a candidate for president in 2016, Gov. Bush intimated he would neither confirm or deny his intention.Download Bulletin PDF