U.S. Chamber of Commerce President And CEO Tom Donohue On Fox Business Network

President and CEO of the U.S. Chamber of Commerce Tom Donohue spoke with FOX Business Network's (FBN) Stuart Varney about the Chamber's plan to help stimulate business in America, his view of President Obama, and his opinion on some speculated presidential candidates. Donohue said that while “the Chamber doesn't do presidential politics” he thinks “Chris Christie is exciting” but that Donald Trump “would not be my choice for President.” He also stated that corporate tax is “the most important issue” right now and that the Chamber of Commerce will not repeal Obamacare or the Dodd-Frank law. On if he would vote for Donald Trump for President: “No. What we need in terms of a president from either party is somebody with a broad range of global experience and somebody that folks will rally behind and feel that we've got the person we need to take America to the future. It's the most competitive time in our history and we are in some ways going in the wrong direction. Mr. Trump is a great real estate magnet and a lot of other things, but he wouldn't be my choice to be President.” On if Chris Christie is his type of presidential candidate: “The Chamber doesn't do presidential politics. We do House and Senate and other things, but I would say Chris Christie is exciting.” On eliminating corporate income tax at 35%: “I would not flat out eliminate corporate income tax. But you've hit on the most important issue, now that the Japanese have changed their rules our corporate tax rates are the highest in the world. That prevents us from bringing a lot of money home that we make overseas because we are taxed twice. Once overseas and once again when we bring it home. As a part of tax reform, we have to fix those two issues or American companies will be far less competitive around the world and be forced to more things overseas.” On repealing the Dodd-Frank law: “No you can't repeal it. We are having a major conference on these issues. The Chamber was working on these issues before the financial crisis, but there are issues that have to be fixed in terms of overregulation that contradicts other regulations, on issues like how independent will the new agencies be and what are we going to do to ensure that American financial institutions are competitive around the world. We are having a vigorous conversation today on how we make Dodd Frank work. It's got more than 250 rule makings yet to be done.” On whether the Chamber of Commerce wants to repeal Obamacare: “No, they're not gonna get it repealed. There are clearly adjustments. The government has proven it itself by giving 1100 exemptions to the rule already This bill is going to have 158 new regulators, new commissions, new groups that will tell everyone how to run health care. We need to fix some of these issues to keep the good things in the bill and get rid of the stuff that will drive up the cost and take away flexibility.” On if he favors a consumption tax to pay for proposed highway spending bill: “We believe there are two fundamental reasons to press the infrastructure issue. One, we need to rebuild America's infrastructure to compete around globe. Two, you're not going to see a lot of people working in the home construction business for the next couple of years but we could put them to work in a big hurry pushing America's infrastructure. The only tax issues that we have talked about is to recognize there hasn't been an increase in the federal fuel tax on the highways, a user fee, in 17.5 years. We've doubled the miles per gallon and effectively cut the tax in half. We ought to do that and we ought to do it soon.” On stopping the EPA from regulating CO2 emissions: “I think the regulation of carbon dioxide emissions should be the responsibility of the Congress of the United States.” On if the President's shift to center is genuine: “I like to look at the President's posture on individual issues. He is much more supportive now on the issue of getting some of these trade deals done which are essential to creating and protecting American jobs. He's going to have some things to say today which probably won't be everything we want to hear about energy, but it is a clear recognition that we are going to have to develop more of our own energy for a lot of reasons, because of price but also including what's going on around the world.” On if it's crony capitalism that allowed General Electric to not pay taxes in latest statement year: “That's bunk. GE, during course of last 2 years, had 2 things that drove down their taxes: One, they had extraordinary, massive losses in their financial arm which is a very big part of the company and they wrote those losses off. Two, they have made serious investments in green energy and a lot of other activities that the Congress has acted in the last number of years to encourage and endorse by providing tax incentive. They did what the law allowed them to do. They paid lots of taxes over lots of time and they'll pay a hell of a lot of taxes next year.”