host: the bill is called h.r. 10, the financial choice act, so it's a high priority for the speakers. here's joe leif lawler's headline at washingtonexaminer.com. g.o.p.'s dd-frank replacement bill heads to the house floor, in particular on the consumer protection bureau. what would the g.o.p. bill do? guest: the republican argument is that the pendulum swung too far.

the idea is to lessen the burden of the rules, and that will create economic growth. how do you prevent a crisis? well, the republican argument there is to eliminate some of the government authorities that they thought created bad sorts of investment that led to the crisis into increased market discipline. the center priest of the plan, the reason it's called the choice act is because it would give banks the option. if they hold more capital if they maintain a higher capital level, they get out of more regulatory rules. meaning you're substituting investor discipline, investor oversight, people with skin in the game for regulators. host: it would seem with the cfpb that's had some success and republicans aren't proposing gutting it completely, they just want to rein it in? guest: they would take a lot --

away a lot of its authority. they would transition it from being independent agency that can write new rules and regulate new markets to one that would just enforce consumer protection aws that are on the books. since it was created in 2010. republicans think that for each cfpb has cut off credit so their argument is consumers would be better served without t being as powerful and as

far-reaching as it is today. host: what did the congressional budget office find in their score, their cost ziment on this dodd-frank replacement bill? they found it would save money over time. but the logic behind that number is complicated and it suggests straightforward savings, but cutting money year after year. the reason it would save that money is because it would lower chances that the government had to pay to bail out a bank. the main government mechanism e -- it created to make sure and keep a e over bank from failing. the way it works, they make a big investment up front, potentially hundreds of billions of dollars to carry out that bailout.

and that is -- that payment is made during the budget window, during the year, the years the c.b.o. keeps track of. it would be repaid later on but the years in which it was being repaid would fall outside of the years that the c.b.o. looks at. so you end up -- what you end up with is a big bailout. if you receive a big number of spending for the bailout, but if you take that power away, that bailout is not going to happen. you save money. it's a budget timing issue if that makes sense. host: what about the democrats, they've been in early debate about this, calling it the wrong choice act. what do they not like about it guest: it would roll back the power of the cfpb which they like, it would prevent banks from speculating with money that are protected by deposit

insurance. it would dramatically increase the burden that any regulator would have to get over in order to impose a new regulation. in general, it would just mean less government rule making and markets that are freer to operate without government oversight. and that is pretty contrary to the democratic view. host: on the other side, you're tweeting that heritage action says it is key voting yes on the financial choice act, praises courageous leadership of jeb hensarling. the white house is behind the bill. are there any implications, political implications in voting for this bill? guest: they are limited in one sense which is that the bill is not expected to be picked up by the senate. this is not a bill that could get around a democratic filibuster. it's not one that could go through reconciliation which would allow it to pass with 51 votes only. so in the sense, how far this would go is limited and

republican leader have acknowledged that. the politics are this is a way for conservatives to express what they think, a conservity alternative to dodd-frank and the rules imposed by president obe ma would be. it's a chance for them to demonstrate they can get bills across the house floor and maybe get momentum for other agenda items they have. host: joseph lawler, economics writer with "washington examiner," read more at washingtonexaminer.com and find im on twitter, @josephlauer. hoe house plans to complete work on that bill tomorrow, follow the house here on c-span when they gavel back in. also tomorrow, former f.b.i. director james comey testified in front of the senate intelligence committee. that's committee currently investigating possible russian hacking into last year's presidential election. mr. comey will first speak during an open session, followed by a closed session.

watch the hearing live, thursday, at 10:00 a.m. eastern on c-span3. you can also watch it online at c-span doig or listen on the free c-span radio app. -- c-span.org or listen on the free c-span radio app. president trump traveled to cincinnati earlier today to speak about infrastructure issues including road and water transportation. his is about 35 minutes. [applause] president trump: thank you. well, thank you all very much. it is great to be back in ohio. we love ohio. you remember ohio, oh, boy. supposed to be close. it wasn't close. and