If Republicans win control of Washington, Rep. Andy Barr wants to play a lead role in helping resolve one of the party’s biggest challenges: The growing clash between free marketeers and economic populists. It’s the crux of his new pitch to be the top Republican on House Financial Services, which under Chair Patrick McHenry has largely been an oasis of predictability and Wall Street-friendly conservatism. It’s where the finance industry’s favorite “adults in the room” have been free to do their thing amid paralyzing Republican meltdowns, market-rattling brinksmanship and the party’s continuing drift away from the demands of big business. Barr gets that the rift can’t be ignored. It's poised to be a big source of policy tension if Republicans led by Donald Trump take back the White House and Congress. Pitching himself as a unifier may also be a winning political strategy as Barr faces off with potential contenders including Reps. French Hill, Bill Huizenga and Frank Lucas. “We can’t put our head in the sand and deny it exists,” he said in an interview with Eleanor Mueller. “It’s there. We need to have leaders in our party that recognize the tension, acknowledge it and use it as an opportunity, not as a liability, and recognize that there’s a lot of common ground between these two wings.” The Kentucky lawmaker no doubt leans more traditional Republican, but he’s dabbled a bit in the other camp. He’s a go-to member when the banking industry has concerns, including speaking out against a credit card fee crackdown backed by Republicans like Sens. J.D. Vance and Josh Hawley. He’s also carrying the torch for free trade as he works with McHenry to narrow China investment restrictions gaining traction in the House. (“The populists have some impulses that are well-intentioned but are wrong,” Barr said.) Barr has embraced some of the party’s new friction with Wall Street. He’s played a big role in the growing House Republican antagonism toward giant money managers over their climate agendas. BlackRock CEO Larry Fink was in Barr’s office last week amid news that the company decided to scale back its role in a climate-focused coalition of investors. “That is a huge victory for our committee,” Barr said. “Depoliticizing finance will remain a major priority.” Barr is clear in his description of the two sides he wants to bridge: “The incumbent, legacy, pro-Wall Street, pro-free market, pro-free trade wing" and the "ascendant America First, populist wing.” Barr, who's endorsed Trump in his presidential campaign, argues there's a way the committee can promote "free-market capitalism as America First." (One contrast to watch: MM reported earlier this month that a PAC aligned with Hill, an unannounced but expected contender against Barr, gave money to Nikki Haley in September. Hill, an ally of former speaker Kevin McCarthy, also voted “present” in conference when Republicans nominated Mike Johnson to lead the House.) Regardless of whether the sides can be united, making inroads with both camps is critical to Barr getting the job, given the leanings of the House GOP. “I’m making that pitch to everybody I can talk to and to leadership,” Barr said of his pitch to find common ground. “That’s getting a really, really strong reception. Everybody thinks that we need that.” Read more about Barr’s vision, including what he'd do if Democrats retake the House, in Eleanor’s exclusive interview. Barr is also pitching himself as a successful fundraiser, which you can read more about here. Happy Tuesday — How are you gaming out the GOP leadership race at House Financial Services? Send tips to zwarmbrodt@politico.com.
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