updated 1/5/2011 11:08:33 AM ET 2011-01-05T16:08:33

Sen. John McCain says he would support congressional work toward an overhaul of the immigration system once "the borders have been secured."

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The Arizona Republican who has been elected to a fifth term also tells NBC's "Today" show he will reintroduce legislation aimed at giving president's line-item veto authority in the budget-making process.

Video: Republicans move in at the House (on this page)

McCain says GOP lawmakers celebrating their newfound power on Capitol Hill should remember that last fall's elections were not so much an embrace of their policies as it was "a vote of disapproval with how we've been doing business."

Video: GOP’s Ryan: ‘Obamacare’ costs jobs

Asked what advice he would give to new House and Senate members starting service in Washington for the first time, the veteran Republican said, "Work hard. Go home as much as you can."

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Video: McCain looks forward to spending cuts

  1. Transcript of: McCain looks forward to spending cuts

    MATT LAUER, co-host: All right, Kelly , thanks very much. Kelly O'Donnell on Capitol Hill this morning. Arizona Republican Senator John McCain begins his fifth term in the Senate today. Senator McCain , good morning to you.

    Senator JOHN McCAIN: Good morning, Matt.

    LAUER: I wonder if I could start on a personal note with you, sir. Fifth time -- fifth term, I mean, that's a lot of years.

    Sen. McCAIN: Mm-hmm. Mm-hmm.

    LAUER: As you get set to go to the office today, how have your views of this job changed over the years?

    Sen. McCAIN: I hope that I have learned a lot and learned the ways of the -- how to get things done here in the Senate , and also I've had the great honor of running for president, so I think I understand the issues and I understand after going through a tough campaign, the hopes and dreams and aspirations and the frustrations of the people I represent in Arizona .

    LAUER: Hopes and dreams. Right now a lot of people want things to get done, and yet we're already hearing where the Republicans and Democrats are going to be butting heads over the next couple of weeks and months. How contentious do you expect these next few week to be?

    Sen. McCAIN: I think Republicans can't forget that the last election wasn't a vote of approval of Republicans as much a disapproval of the way we've been doing business . I think there -- we can find areas to work together on cutting spending, getting our economy going again, job creation. But I also think that there are clearly philosophical differences between the way we've been doing business in the last couple of years to the way we should be doing business , at least in the opinion of the majority of the American people . But let me just mention two things, Matt. I think we can work with the president. I'll be introducing again, along with Senator Coats , an enhanced rescission version of the line item veto...

    LAUER: Right.

    Sen. McCAIN: ...to help the president. Also, I think it's very important to -- that we get rid of a lot of the waste and pork barrel spending that is associated with the defense. That's got to be part of reducing and eliminating some of the excess spending. So there's a lot...

    LAUER: A lot of Republicans -- go ahead. I'm -- go ahead.

    Sen. McCAIN: Yeah. Go ahead. So I think there are areas. Let me just mention one more. Once we get the border secured, and we can get the border secured, I would look forward to working on comprehensive immigration reform. But we got to get the border secured first.

    LAUER: A lot of people are saying health care , that the bill, the new health care bill, Republicans are saying they want to repeal it and they want to bring a vote next week and they're saying it's their priority. Senator McCain , is that your priority?

    Sen. McCAIN: I think it's one of them. Obviously spending and jobs and the economy is important, but the Obama care bill was obviously a massive increase in the size and reach of the federal government and the cost to taxpayers. So I think the House vote is a good one. It's not going to pass here in the Senate . But we need to continue the fight. Over 60 percent of the American people do not like the health care bill and I think we're going to continue to work to bring about quality preservation and cost restraint in the health care in America .

    LAUER: When the health care bill became law, or passed last year, you said that there would be no more cooperation for the rest of the year. You also voiced some strong opposition to some of the legislation the Democrats were pushing through Congress in the lame duck session , the spending bill, the repeal of "Don't_Ask,_Don't_Tell." So is -- are you in the mood for cooperation right now, Senator ? I mean, is that -- is that what your -- where your mind-set is?

    Sen. McCAIN: Absolutely. On the issue of the health care bill, I think we fought the good fight and I think we at least won a moral victory on it, at least in the view of the American people . As far as some of the other issues are concerned, lame duck sessions are to keep the Congress and the government in operation. I'm pleased we defeated the omnibus appropriations bill and for the first time really passed a bill without earmarks in it. So -- but overall, I think we should have had -- kept the government in being -- extend the tax cuts and going home .

    LAUER: Right. Let me ask you -- let me end this in a similar way that I started.

    Sen. McCAIN: Sure. Sure.

    LAUER: You know, there are a lot of new members of Congress today, they'll be taking their seats for the first time on both sides of the aisle. Let me ask for the benefit of your experience. If you could give those new members, Democrats and Republicans one piece of advice, Senator , what would it be?

    Sen. McCAIN: Work hard, go home as much as you can. Don't become a Washington person. When I first succeeded a member of Congress named John Rhodes many years ago, he had been in the House for 38 years, he said, 'First six months you're there you're going to wonder how you got there and the next six months you're going to wonder how all the others got there.'

    LAUER: Senator John McCain . Good luck, sir.

Explainer: The GOP's key players going into 2012

  • Republicans are taking control of the House for the first time since 2006, while in the Senate they’ve gained six seats and can block most Democratic initiatives. Here are some of the important committee chairmen and the pivotal GOP senators who will help determine the outcome of legislative struggles with the Democrats over the next two years.

  • Rep. Spencer Bachus, chair, House Financial Services Committee

    Gary Cameron  /  Reuters

    A soft-spoken Alabaman, Bachus will have a crucial role in overseeing banking, consumer protection and securities trading. His domain will include the Federal Reserve, the World Bank and the International Monetary Fund, as well as troubled government-owned mortgage guarantors Fannie Mae and Freddie Mac. He doesn’t have the rhetorical flash and stinging wit of his Democratic counterpart, Rep. Barney Frank, with whom he has often jousted. Bachus drew fire when he told The Birmingham News on Dec. 9 that, “In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks.” He later amended that comment, saying that regulators should not micromanage banks, but should set ground rules for how they operate. “Bachus' staff is going to be very busy getting him to retract statements in which he reveals what he really believes about a fundamental issue before the Committee,” Frank said.

  • Sen. Scott Brown, R- Mass.

    Hyungwon Kang  /  Reuters

    Brown’s victory in the Jan. 19, 2010 special election to fill out the unexpired term of Sen. Edward Kennedy signaled that the tide was turning against President Barack Obama and his allies in Congress. No Republican had won a Senate election in Massachusetts since 1972, when Brown was only 13 years old. Brown must run for re-election in 2012 and as a Republican senator from one of the nation’s most Democratic states, he’s a sensitive political indicator. With his vote being closely watched on every major issue, Brown voted for the Obama administration’s arms control treaty with Russia and for repealing the military “don’t ask, don’t tell” policy for gay service members. But he voted against the DREAM Act to grant legal residency to children of illegal immigrants, calling it "backdoor amnesty."

  • Rep. Eric Cantor, House majority leader

    Jonathan Ernst  /  Reuters

    Elected in 2000, Cantor has risen to become one of his party’s most visible spokesman and a principal tactician for House Republicans. He got started in politics as a teenager by serving as a driver for Rep. Thomas Bliley, R-Va. Cantor now holds the Richmond-based House seat that Bliley once held.

  • Rep. David Dreier, chair, House Rules Committee

    Harry Hamburg  /  ASSOCIATED PRESS

    One of several Californians in leadership positions in the new Republican majority, Dreier will have the job of designing the rules for each piece of legislation that comes to the House, including how many amendments the minority party can offer to bills. First elected in 1980, Dreier served as Rules Committee chairman from 1998 to 2006, when the GOP was in the majority. If process controls legislative substance, then Dreier is the one who’ll control the process.

  • Rep. Darrell Issa, chair, House Oversight and Government Reform Committee

    Tim Sloan  /  AFP - Getty Images

    The grandson of Lebanese immigrants, Issa was born and raised in Cleveland and made his money in the car alarm business. He helped underwrite the recall effort against California Democratic Gov. Gray Davis in 2003 and spent $11 million on an unsuccessful bid to be GOP Senate candidate against Sen. Barbara Boxer in 1998. The six-term California Republican has promised to investigate vigorously alleged abuses of power by Obama administration officials. "Our committee is the committee of stopping government from taking away your liberties” and “stopping government from exceeding its authority,” he said. 

  • Sen. Jon Kyl, Senate minority whip

    Michael Reynolds  /  EPA

    Serving his third term in the Senate, after four terms in the House, Kyl is the chief GOP vote counter, figuring out members’ sentiment on bills and nominations. He’s up for re-election in 2012. The son of a former House member from Iowa, Kyl led the opposition to the Obama administration’s arms control treaty with Russia. “What we ought to be doing is focusing on Iran and North Korea and other places where maybe there is proliferation going on, and a desire to develop nuclear weapons that could potentially attack the United States,” he said.

  • Rep. Kevin McCarthy, House majority whip

    Chip Somodevilla  /  Getty Images

    First elected in 2006 from a safe Republican district which includes his hometown, Bakersfield, Calif., McCarthy has vaulted with impressive speed to the third-ranking position in GOP House leadership. He’ll be the first Republican from California to serve as majority whip. McCarthy learned politics from his former boss, Rep. Bill Thomas, whose seat he won when Thomas retired. McCarthy was Republican leader when he served in the California Assembly. According to the Los Angeles Times, McCarthy has “an encyclopedic knowledge about his House colleagues' idiosyncrasies and political needs” and “has pored over the profiles of lawmakers and their districts in the thick Almanac of American Politics on flights between California and Washington.”

  • Rep. Paul Ryan, chair, House Budget Committee

    Lauren Victoria Burke  /  AP

    A native of Janesville, Wisc., Budget Committee chairman Ryan has long been his party’s most articulate spokesman on spending. If Republicans really intend to cut spending, Ryan can tell them exactly where and how to do it. But Ryan’s plan for a voucher system to replace the open-ended Medicare entitlement makes some Republicans skittish. In the 2008 election, President Obama carried Ryan’s congressional district with 51 percent of the vote.

  • Sen. Olympia Snowe, R-Maine

    Chip Somodevilla  /  Getty Images

    Snowe is one of the decisive senators in the center whose vote often tells if a bill or amendment will pass. She is up for re-election in 2012. Obama won her state in 2008 with 58 percent of the vote. She opposed the Obama administration by voting against the DREAM Act to grant legal residency to children of illegal immigrants. She voted for the administration’s arms control treaty with Russia and for repealing the military “don’t ask, don’t tell” policy for gay service members.

  • Rep. Kristi Noem, R-S.D.

    Harry Hamburg  /  AP

    South Dakota cattle rancher and ex-state legislator Kristi Noem is one of two members of the class of 2010 who’ll be part of the House GOP leadership. She defeated Democrat Rep. Stephanie Herseth Sandlin, getting 48 percent of the vote in a three-way race. Delivering the weekly address for her party on Dec. 11, Noem twice used the word “humble,” calling herself "part of a new majority committed to being humble, more modest ... We are committed to making sure Washington humbles itself ...” Noem was a college student when her father was killed in an accident on the family farm. “I was 22-years old, we got hit pretty hard with estate taxes at that point in time, and I really started to recognize the impact that government and taxes had on small businesses and in an agricultural state like South Dakota,” she told an interviewer.

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