The following is a transcript of an interview with Republican Governor Kevin Stitt on “Face the Nation with Margaret Brennan” that aired on August 25, 2024.
MARGARET BRENNAN: We now turn to the Republican governor of Oklahoma, Kevin Stitt of Oklahoma City. Good morning to you. Governor.
GOV. KEVIN STITT: Hey, good morning. Happy with you.
MARGARET BRENNAN: So one of the biggest drivers of inflation right now is shelter costs. And I know in a previous life, you founded a mortgage business, so I want to tap into something that is also a problem in Oklahoma, and that is lack of housing. Donald Trump was asked earlier this week, while out campaigning in Nevada, the plan, and said he would like to release more federal land to allow houses to be built. Is that enough?
GOV. KEVIN STITT: Well, first of all, thank you for- thank you for me. You know, I will tell you, as a businessman, before I became governor, I was in the mortgage business. And the last thing you want to do is Vice President Harris’ plan, which is to put $25,000 more into everyone’s pocket to buy a house, because if you increase demand without fixing–
MARGARET BRENNAN:– This is for first-time home owners–
GOV. KEVIN STITT: — For first-time home buyers, that’s right. But if you throw out the demand side without fixing the supply, what happens to prices? You are actually creating a problem, house prices are going up. So, the solution that President Trump says is the right solution is to eliminate reform. Request permit reform. Make it easier for developers. Make it easier for people to develop and build houses. Get rid of the law. That’s- that’s the free market principle that we believe in and that we know is the right way to do things. I mean, if you’re thinking about it, listen – go ahead.
MARGARET BRENNAN: I’m sorry. The vice president said he also wants to build 3 million homes, so he talked about increasing supply. But in the platform of the Republican Party, because we then look at it, said Republicans will reduce mortgage rates by slashing inflation. This is really the Fed’s decision, isn’t it? But it also opens up part of the federal land to allow for the construction of new homes, sounds very similar to the Harris plan, and then promotes home ownership through tax incentives and support for the first buyer, also sounds very similar to the Harris plan. So, what’s the difference?
GOV. KEVIN STITT: Well, first of all, there are a lot of first homebuyer programs now, and my question to you, and this is a good question for Vice President Harris, is who is going to build 3 million homes? I mean, basically, we believe in a free market system or we believe in government intervention, and the bottom line is, you’re going to increase the cost. The reason we have 20% inflation in the current Biden-Harris administration is because of all the energy attacks, for example, the bureaucracy that we need to reform, we need deregulation. We must unlock American business to meet the needs of the American people. Basically, if you have municipalities stop new development for lot sizes and for first time home buyers. Those are the things that need to be done. By increasing and spending more money and giving- like thinking about it for others, this ticket, and I know Governor Walz, I am friends with the National Governors Association. He is a good man. I’ve met, I’ve met Vice President Harris twice. He seems like a good guy, but if you think about the Democratic ticket, he’s never worked in the private sector. He has- been a policy that shows. You can’t give every first home buyer $25,000 and expect home prices to go down. That is not the economic way. It is socialism. That’s communism.
MARGARET BRENNAN: Well, it’s not clear what the Republican platform means when it says tax incentives and support for first-time buyers. So no – it’s not clear what the detailed options are when it comes to helping first-time buyers. But in terms of economics, your country has a law that prohibits an increase of more than 10% in the price of goods and services during a state of emergency. The Harris campaign wants federal limits on those price jumps. Are you fighting at the federal level, if you have something at the state level?
GOV. KEVIN STITT: Well, what we’re talking about at the state level, if we have a natural disaster, for example, if there’s a tornado that goes through one of our communities, we don’t want people from out of state to come. in and the price of gouging far as roofing materials. So, when I announced the national executive order and said, this part of the country has been devastated, it was only a matter of time. It works for a month, and it’s just to protect people from really- people come in trying to make money off of this disaster. So it’s very different from what I see this administration that Vice President Harris is recommending. So, he said, here – this is an issue that doesn’t make sense to the American people, and you should ask about it. Okay- They will tell the grocery store that the most you can pay for milk and refill milk is $1.99. But what happens to the farmer if the cost is more than that–
MARGARET BRENNAN: Yes.
GOV. KEVIN STITT: Okay, what are you talking about?
MARGARET BRENNAN: I’d love to ask that question.
GOV. KEVIN STITT: What about price controls then?
MARGARET BRENNAN: I have a question for you. You support President Trump. In the beginning, you have supported the governor of Florida, Ron DeSantis, and he has warned the Republicans about this.
(BEGIN SOUND ON TAPE)
GOV. RON DESANTIS: You’re not going to talk about borders, you’re not going to talk about the economy. You will talk about all this to make the election a referendum for Donald Trump, whereas, if I were the nominee, we would only focus on the issues that matter to the American people.
(End sound on tape)
MARGARET BRENNAN: Does President Trump take his own approach in his own messaging?
GOV. KEVIN STITT: You know, I’m not going to defend what Vice President Harris said at the convention to President Trump, or what President Trump said this. This is not about winning an argument. And I think that the American people are very tired. Come on- we need to get back to the question of policy. And Vice President Harris’ policies have led to a 20% increase in inflation. And I think the American people at the end of the day, when they- when they ask themselves, are they better off when President Trump is in office? The answer will be yes, which is why President Trump is the nominee. He has the best policies, and I believe he will win in November.
MARGARET BRENNAN: Governor. Thank you for joining us. We’ll be back in a moment.
