Honeywell Chairman & CEO Dave Cote appeared on CNBC’s Squawk Box, reporting live from the Business Roundtable quarterly meeting in Washington D.C. to discuss how the government can create opportunities for growth and help businesses to succeed.
“Government needs to both regulate and enable, and we need to focus on the enabling side in addition to regulation so that business can do what it does,” Cote said. “Right now we’re not seeing the kind of progress that we need to, to create that enabling kind of structure, and that’s why we need to address the debt, we need an energy policy, and we need to address trade.”
When asked how the government can effectively address these issues, Cote emphasized the need for government focus on the debt and the impact of spending and tax reform.
“There is such a thing as good spending. I’m in favor of infrastructure spending, math and science education – that’s stuff we should be doing; that’s part of the enabling government should do. However, we kind of forget that we have to accomplish two seemingly competing things at the same time. You have to enable and you have to regulate. You have to reduce spending in the long term on things that are more like transfer payments and you need to increase spending in the short term to make sure we don’t create the kind of economic problem we could have.”
The Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies is focused on ensure that American businesses have an active and effective role in the formation of public policy. Cote currently serves as the Vice Chair and Committee Chair of the BRT and is a member of its Energy and Environmental Task Force.