Hoyer Discusses the Economy on CNBC's "Squawk Box"

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) discussed the need for Congress to work on a bipartisan basis to give confidence to the private sector and boost the economy on CNBC's "Squawk Box" this morning. Below is an excerpt from the interview and a link to the video.

Click here for the video.

“…One of the things [Secretary] Larry Summers said that I absolutely agree with is confidence is in and of itself an economic booster, and what we've been doing in Washington for too many years is undermining confidence. For instance, TRIA [Terrorism Risk Insurance Act] was allowed to expire. The good thing we did with over 415 votes was to approve it this week. Frankly, we could have done that six months ago, and we should have done it six months ago, but it's never too late to do the right thing. I was pleased to see that that legislation passed. I’d like to see the Export-Import Bank reauthorized. I’d like to see the Highway Trust Fund reauthorized, all of which would boost confidence in the private sector. So I agree with Larry that creating confidence in the private sector that the federal government is on a stable path on which they can rely, I think would be a tremendous boost to the economy.”