Rand Paul says oil industry subsidies should end; says he'll 'probably' run for re-election

08/29/2011 06:36 PM

BOWLING GREEN — Kentucky Republican U.S. Sen. Rand Paul said he will “probably” seek a second term in 2016. And he said even though he’s in the “minority of the minority” in the Senate, a group of freshmen Republican Senators have helped shift the debate in Washington.

In the first part of a wide-ranging interview recorded at Paul’s Bowling Green office on Friday, Paul talked about his first eight months in the U.S. Senate.

Much of his focus has been on federal spending. His bills calling for immediate decreases in funding to balance the budget appear to have no chance of passing.

But he said he would be willing to compromise on other areas, such as changes to the federal tax code in order to lower the nation’s debt.

“If you can lower rates and eliminate loopholes, and broaden the base some and simplify the tax code — all of those things I’m for,” he said. (The tax discussion picks up at 1:50 of the first interview video).

Paul also called for the elimination of federal subsidies to certain industries, including for oil company research and ethanol gasoline.

“I’m for eliminating that … Giving money directly, I’m absolutely opposed to,” Paul said, starting at 5:30 of the interview.

In the next part of the interview, Paul said he will “probably … would run in 2016” for another U.S. Senate term. (0:30 in).

He sidestepped a question about whether he still has White House ambitions but did talk about his father’s prospects in the 2012 Republican presidential primary, in which he said his father is one of four who have a chance. (0:45 through 2:00)

And he said he still believes Republican candidate for governor David Williams still has a chance to win this fall’s governor’s race, but the media needs to give him — and other challengers for office — more attention (starting at 2:00).

(Programming note: Watch Tuesday’s edition of Pure Politics for more with Sen. Rand Paul’s interview, including his take on whether the U.S. is headed for a double-dip recession.)

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