Trump, businesses sue Oversight chairman to block subpoena for financial records
GOP leader joins Trump in calling for end to Dem investigations
"Look, we will never give up our oversight role, but this country is too great for a small vision of just investigations," McCarthy said at a press conference. "There are challenges out there that we have to get done. And to be fair, we have been investigating for the last two years.
"I think it should come to a close. I think the country wants to be able to solve the problems going forward," McCarthy said. "They want to see the challenges that we have, but actually rise to the occasion of - that the generations of Americans have done before us."
Trump touched on the investigations during his speech, saying the only things that could stop economic growth were "foolish wars, politics or ridiculous, partisan investigations."
Democrats won the House majority promising to bring new scrutiny to the administration. They argued Republicans in charge of the House shirked their duty in providing oversight, and were often more interested in protecting the president.
Speaker Nancy Pelosi (D-Calif.) blasted Trump's call for ending investigations, deeming it a threat.
"That was a threat," she told reporters. "Presidents should not bring threats to the floor of the House."
McCarthy singled out any effort by the House Ways and Means Committee to subpoena Trump's tax returns as political.
Trump, in a departure from years of protocol, did not release his tax returns while running for president.
"Again, that just seems political to me," McCarthy said. "I think Ways and Means should focus their time making sure, with how strong this economy is today, on how we can make it even stronger. I think that is the focus the American people would like to see and I think that's the focus we have as well."