David Perdue, Georgia GOP Senate Candidate, Doesn't Want To Repeal Dodd-Frank

GOP Senate Candidate Doesn't Want To Repeal Dodd-Frank

Although a Georgia Republican Senate candidate slammed the 2010 Wall Street reform law known as Dodd-Frank this week, his past comments indicate that he isn't as intent on getting rid of it as many of his fellow Republicans. In fact, he's interested in working with Democrats to improve the law, rather than repeal it outright.

David Perdue, the former CEO of Dollar General, was critical of Dodd-Frank Wednesday at a Thomas County Republican Party meeting, claiming it prevents banks from lending.

“I could not borrow money from my local bank like I used to, just for operating capital,” Perdue said, according to the Thomasville Times-Enterprise.

But Perdue told voters at a Coweta County Republican meeting in January that he would work with Democrats to reform Dodd-Frank rather than repeal it, according ABC News.

“I’m not going to go up there and tell you I’m going to repeal Dodd-Frank,” Perdue said. “I will tell you I’m going to fight to amend it. And to do that, I think I can find some Democratic senators who will join in with logic and be led into a reasonable solution.”

As ABC News noted, Perdue's plan on Dodd-Frank stands out in the state's crowded Republican primary and among Republicans nationally. The three Republican members of Georgia's congressional delegation who are running in the primary -- Reps. Paul Broun, Phil Gingrey and Jack Kingston -- all want to repeal the law. The GOP's 2012 presidential nominee, Mitt Romney, promised to "repeal and replace" the Wall Street reform law if elected.

Perdue has campaigned as a conservative but has attacked his opponents for their unwillingness to work across the aisle. At the January meeting, Perdue emphasized his experience in business as evidence he can get things done in Washington.

"Generating real revenue teaches you how to collaborate without giving away your principles. The problem with the Republican Party says, 'Well, wait a minute. If you talk to anyone on the other side that means you’re giving up your principles,'" Perdue said.

Working with Democrats on issues like Dodd-Frank is the only way to improve policy, according to Perdue. “That’s the only way out of this box, frankly," he said. "This gridlock is not working. We've proven that. And just saying no doesn't work either, by the way."

While Perdue intends to work with Democrats on the Wall Street reform law, he is campaigning for a "full repeal" of the Affordable Care Act -- despite having argued for a federal solution to the nation's high uninsured rate when he was a corporate executive.

A poll released Wednesday by SurveyUSA found Perdue leading the Republican primary field, though the race may go a runoff. Michelle Nunn, the daughter of former Sen. Sam Nunn (D-Ga.), will likely be the Democratic nominee.

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