The U.S. Senate rejected a measure relaxing securities regulation for start-up companies Tuesday, prompting Sen. Jim DeMint, R-S.C., to criticize Democrats on the issue.
“It doesn’t cost taxpayers anything. It’s not a partisan issue,” he said. “It makes sense.”
The measure, backed by Democrats, would have added investor protections sought by advocacy groups and Securities and Exchange Commission Chair Mary Schapiro, according to Reuters.
The procedural vote cleared the way for the Senate to consider a version passed by the U.S. House of Representatives.
In an interview on “The Kudlow Report,” DeMint also criticized the Obama administration over its energy policy.
“They’re certainly not doing anything that would actually increase the supply and lower the price of gasoline,” he said. “We wouldn’t have to wait for a lot of this production to come online because speculators are going to drive prices down if they think that supply is going up.”
Lastly, DeMint weighed in on U.S. Rep. Paul Ryan’s federal budget proposal, which includes spending cuts of more than $5 trillion and deficit reduction of more than $3 trillion over 10 years. Ryan’s plan also includes a $49 billion revenue increase for 2012.
“He’s done a lot of great work, and there is no better thinker in the Congress than Paul Ryan,” DeMint said, adding that Republicans were looking to balance the budget over the next decade.
“I’m not sure Paul Ryan’s does that, but it puts us on a course to move toward a balanced budget,” he said. “I’d like to be a little more aggressive with the things that we cut and move back to the states.” Tune in:
"The Kudlow Report" airs weeknights at 7 p.m. ET.
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