lauren: is there a pullback you expect? if so, how much, and when can we expect it? >> yeah. and i want to, you know, clause that with i do expect a pullback. i want to say it is a normal pullback because we see these in the markets all the time and it wouldn't shock me at all in the back half of february or sometime in march, that we see somewhere between a five to 10% pullback as the market digests this new hotter inflation data, as the market kind of assesses that the rate cuts may not come until the way back half of 2024 and that there are a few cracks in the economy like we discussed earlier. so i think there will be a little bit of digestion there. i think the market may pull back five or 10%. i still believe structurally we're good, any pullback, sounds cliche but i would buy it. lauren: mike binger, thank you very much. we're back in action tomorrow when markets reopen. kudlow- david: hello, everyone, welcome

to a special edition of "kudlow." i'm david asman in for larry today. the department of justices putting pressure on the white house to release the transcript of the interview between president biden and special counsel robert hur. meanwhile in new york a judge is ordering former president trump to pay $355 million in damages and about another 100 million he has to put up in interest, putting the fate of his big apple empire in question but, folks who are doing business in new york are scared to death this decision could put new york's economy into a deep freeze. kelly o'grady and david spunt are standing by for the details. first up fox news's david spunt live in d.c. on fallout from special counsel hur's report on president biden. david? >> reporter: david, the department of justice is willing to cooperate and turn over the transcript if several hurdles are cleared. in a letter sent late friday to the chairman of the big three committees looking into the impeachment of the president the

doj official wrote, the transcript of the interview between robert hur and president biden that took place in october must be looked at by intelligence agencies to make sure there is nothing classified. after all the whole premise of the investigation special counsel hur was looking into classified information found at the home and personal office of president biden. once any classified information is redacted the white house would then be able to look at any sort of executive privilege if warranted. if that happens, that could definitely slow down the process for doj turning over the transcript to capitol hill. when it comes to executive privilege i'm told there is not much doj can do to block executive privilege n this doj letter to congress the official writes that the department is committed to responding to the committee's request expeditiously consistent with the law, longstanding department policies and principles and available resources. attorney general merrick garland is essentially putting the pressure somewhat on the white house to make a decision as the white house also has a

copy of the transcript, david, by forcing the white house ultimately make a decision that somewhat takes the pressure off the department of justice. also special counsel robert hur is slated to testify on march 12th. expect him to be asked about that march interview or that october interview, excuse me which took part, in place part of two separate days. back to you. david: all right, david spunt, thank you very much for that. let's turn to new york where there is another story simmering over the weekend. kelly o'grady live from trump tower in new york city. kelly? >> reporter: it is great to see you, david. that's right, friday's ruling has fallout in multiple areas. first the business community here in new york, it is having a chilling effect. the concern being well if this could happen to former president trump what stops the same fate from coming for real estate developers or other industries in new york? trump spokesperson said the following, quote, every member of the new york business community no matter the industry

schuss be gravely concerned with this gross overreach and brazen attempt by the attorney general to exert limitless power where no private or public harm has been established. one major hedge fund manager is saying it sets the precedent for every property owner to be arbitrarily declared guilty. others are question why stay in new york given the business climate. >> i would never invest in new york now. i'm not the only person saying that. do you think any foreign institution or any private equity firm or any pension fund would touch new york? no! and that's why new yorkers should be concerned. >> reporter: now the path forward for former president trump himself is also bumpy. he is facing a 450 million-dollar fine if you include interest in that original figure. the big question how he would cobble together that sum. selling new york real estate assets could be premature if he wins that appeal but he may not

have enough cash on hand. what makes it all trickier, david, moratorium on his financing efforts. he can't get a loan under this ruling from new york chartered institutions for three years. which essentially means he cannot borrow from anywhere except smaller institutions or his friends. the appeal comes next, david. he will have to post the 450 million in escrow or put up a bond. he and his lawyers say he is ready to meet the deadline in 30 days. david: looks like they're setting him up for him to lose. not only fining a huge amount, way they force him to borrow money if necessary impossibility. kelly, i appreciate that for more on all this, let's bring in pennsylvania congressman scott perry. first of all on the business community in new york, they are wondering if it can happen to him, it can happen to us. we had governor hochul from new york come out over the weekend to try to dispel things but she made them a little worse. let me play that sound, get your

reaction. roll it. >> i think that this is really an extraordinarily unusual circumstance that the law-abiding and rule-following new yorkers who are business people have nothing to worry about because they're very different than donald trump and his behavior. david: so, congressman, isn't that just confirming this was a political decision, not blind justice at work but a political hack job against donald trump? >> that is exactly how i see it david. this guy is running for president and he might win. i think cathy hochul said the quiet part out loud, note only new yorkers but rest of the world heard it. david: she is not the brightest bulb in the chandelier i can say

that we have something about the constitution. that constitution has a 14th amendment in it. i'm just going to read part of the 14th amendment. says no state shall deny to any person within its juniors -- jurisdiction the equal protection of the laws. been 70 years in this law. nobody but donald trump is affected by it and the way he was by what he did. that seems to me a violation of the 14th amendment, equal justice. >> why wouldn't the left use the constitution against this president? they don't actually care about the constitution and they're interested in any kind of new way to use lawfare against the former president to make sure he doesn't become the future president and that is exactly what's happening here and not openly have we seen it from kathy hochul, we've seen it from this judge and the fact that they made this ruling that he has to comply with in 30 days,

everyone knows what is happening here. unfortunately the president trump still has to deal with this somehow and satisfy this circumstance. as you said, they're literally setting him up so he can succeed. exactly what the constitution was conceived to prevent. david: meanwhile he is running for president. it is not like he has nothing else to do? >> yeah. david: but the idea of course was to fill his time with all of these lawsuits and prevent him from campaigning but somehow he manages to do it because he is donald trump and he does those sort of things. >> it is the ultimate are in election interference and i found it fascinating as well regarding your other story that president biden is claiming executive privilege regarding these documents and coming to congress. meanwhile they're denying executive privilege to president couple for when he was president with documents. these people know no shame. they know no bounds.

they use whatever they can and the hypocrisy be damned. they just don't want donald trump to get anywhere near the presidency. that is what the root of this is. david: what they are showing the american people is the juxtaposition of donald trump dealing with all of these lawsuits, having to come up with this huge amount of cash, which normally rich people don't have. it is tied up in assets. >> right. david: and running for president. all at the same time. doing a pretty good damn good job running for president at the same time, running around while president biden has this problem just getting up in the morning apparently because he goes to bed so early, they put a stop on all of his activities. spends most of his time it seems on vacation and now of course special counsel hur's report suggests that he really has enough trouble so that's why he wasn't charged with a crime because of his hoard of documents that he took when he was senator and vp.

are you guys in congress going to demand to see the transcript of this hur conversation with the president? >> of course we are, absolutely. members of congress are also people that have national security clearances. i'm one of those people and not just the one that you sign when you get to congress. one is actually done by the security clearance folks that do real ones, that take a year to get. we have those clearances as well. there is absolutely no reason that congress can't now, that the case is over and has been determined what the fate is going to be, it is going to be nothing, no reason whatsoever, executive privilege or classification that stops congress, members of congress, certainly the big three from taking a look at those documents and making their own determinations. david: yeah. now i want to turn to that georgia case against donald trump which is a very complex case and yet it is handles by a couple of prosecutors who seem to be like

the keystone cops on steroids. prosecutor d.a., fani willis or fani willis, her sidekick happens to be her boyfriend, nathan wade. this is from 2020. when she was running for d.a.'s office. >> you're sitting with someone that wants to make a difference. because they deserve a did h da that won't have sex with its employees. they deserve a da that won't put money in their own pocket. david: knowing what we know now, won't have sex with her employees, knowing what we know now, shouldn't she be disqualified on the basis of that tape alone? >> of course she should be disqualified. democrats on the left know no bounds certainly when it comes to hypocrisy. she can't live up to her own standards. why should she expect the voters to expect her to live up to them.

she should spare them the pain to have to continue with her leadership in that position and just resign now. if she had any respect for herself or the voters or quite honestly the constitution and the law that she professes to uphold. david: we have much more to talk about. there is also jack smith who also has a very checkered background of his own. scott perry, we leave it at that, appreciate it. happy presidents' day, thanks for being here. >> happy president's day. god bless you. david: bless you. coming up remember this -- president biden: the next big battle whether the very wealthiest among us, biggest corporations begin to start paying their fair share. david: well joe, a new report showing exactly what share of taxes the top 1% are paying and it looks like you owe americans an apology for what you said. we're going to talk about it with russ vought and michael falkander when "kudlow" continues. ♪.

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cutting subsidies to big pharma and wealthy and big corporations pay their fair share of federal taxes. david: remember those? sorry, mr. president, new data since the new trump tax code went into effect the top 1% gone from paying 40% of all income tax, which was big enough, to 45%. that is the highest share paid by the rich ever because of the trump tax code. joining us russ vote, former omb director, president of center for renewing america, michael falkander, former assistant professor of economics professor at university of maryland. i can be kind of mean talking about hi family not paying their fair share. i'm not going there for the moment, guys. i want to talk about another fib the president said, only the rich benefited from the tax cuts. in fact we knew way back in 2019 when the data began streaming in, "the new york times" of all people reported on it, at that %

of all taxpayers, again this was in "the new york times," 65% of all taxpayers got a tax cut from the trump law. only 6% paid more. so i'm just wondering, russ vought, wasn't this actually a blue-collar bonanza? >> it was and at the time you saw every economic group, every demographic was benefiting from the economy that was built as a result of that tax cut that was built on as a result of that deregulatory agenda. and so the left has to go and essentially put these talking points out but we know that from recent history because the american people saw those benefits in their pocketbook, that these accusations are just not true. david: michael, one thing that is almost certain, if the democrats take the white house and both houses of congress there are going to be new taxes. we have the sunset, the 2025

sunset of most of the tax code that you guys set up under the trump administration but they also want things like the wealth tax where people will actually be taxed on the basis of stuff they have whether it's stocks or artwork or gold, whatever it is, that increases in value before they have even sold it? >> that's right, david. so if we stone do anything about it everything he did on the personal side, will expire in 2025. doubling of standard deduction, increase of marginal rates, everything that made the code more progressive. what we saw the bulk of the american people, particularly at the lower, middle, end of income distribution saw reduction of taxes as a result of tax cuts and jobs act. that goes away. not only that remember, david in 2019 the census bureau came out and said household income rose $6,000 on a real adjusted basis as a result of the economic plan

of the trump administration. we had the lowest poverty rates and lowest unemployment rate in 50 years. so to argue that these were primary to the benefit of the wealthy when in fact government statistics tell us how broadly shared that prosperity was, goes to again demonstrate the, the nonsense that we're hearing out of this administration. david: russ, you touched on this and it is an important point because more and more the democrats are losing their base whether it is black minorities, the latino community, as they begin to find out we were actually doing better under the trump administration than they have been under the biden administration? >> no doubt about it. they want a safe country. they want a sane country. they want a prosperous economy. they don't want to have to go pay hundreds of dollars when they go to the grocery store. at every opportunity, from a data point perspective with regard to how they judge this

economy, they look at it and they say look, i was better off under trump than i am under biden. why would i continue to vote for these policies? david: well, what happens, michael, if in fact it's the other side that wins? if trump not only takes over the white house but republicans take over both houses of congress, is it conceivable we could have some kind of a new tax code? the one things you guys didn't do, you did a lot but you didn't do a lot about simplifying tax code, maybe around the edges a big simplification like a flat tax, the one steve forbes, everybody pay the same. instead of supersizing the irs we could downsize the irs. we wouldn't be talking about supersizing it. turn it into a collection agency, what about something like that? >> that's right, david. we made a down payment on that with the tax cuts and jobs act. when you double the standard deduction, a much larger portion of the american people actually don't have to itemize, don't

have to go through complexity. take the amount of income, apply the standard deduction, apply the rate structure. that allows us to get people off addiction to many special interest breaks. it enables us to move toward greater fairness and reduce a lot of these deductions that included in code. if we get it down where secretary mnuchin discussed people could file taxes on a postcard, that is the objective but we have to do it sequentially. david: meanwhile, russ, spending very, speaking of ad exdids, this administration is addicted to spending more that they don't have. annualized we have a deficit $1.6 trillion. it is growing, the last quarter came in $530 billion for the last quarter. where is all of that going to lead? i know, supply-siders very often say a growing economy can cure everything, but this is, this is a big sickness in our economy right now, isn't it?

>> it is a huge sickness. the spending that this washington uniparty is doing right now on an oomph basis is not something you can solve just by growth. growth is obviously a part of the answer. a part of a balanced budget, it is a huge part but you have to tackle spending. not only by not tackling they are dramatically worsening. they will pass in march another $1.7 trillion spending bill. we have interest costs going from $350 billion when we left office to now $870 billion per year and headed towards $1.6 trillion. that is just interest. david: unbelievable. >> that is what we would spend on the deficit. the deficit we'll have another 20 trillion added over the next 10 years. that is using static assumptions, that doesn't even include the cost of extending the tax cuts we've been talking about. david: yeah. >> so our fiscal picture is worsening. this administration just making it worse. david: put it in something that

people can wrap their head around, russ, i'm told by the end of this year, just servicing the debt will cost as much as our spending on the military, is that right? >> that's right. david: it's unbelievable. all right then we have all the regulations. this is the last one for you, michael. these green energy regulations continue but it is not just green energy regs. it is all kinds of things. how quickly could a trump administration turn that around? >> yeah. so we're already getting to work at the america first policy institute identifying regulations we can remove and start the process of eliminating. as you know they're trying to get as many through as possible prior to where the congressional review act would still be applicable. we're working if we cannot reverse it through the congressional review act, reverse it either through the reconciliation process or by beginning the process doing it through rulemaking. we have to get started on by with that on day one.

president trump called for 100 executive orders, to get agencies and departments undoing all the damage. david: i remember back in the 1980, the heritage foundation put together a blueprint for the reagan administration. sounds like you're getting something like that ready for another trump administration. glad somebody is working on that. michael, russ, thank you both. appreciate you being here. coming up democrats want more and more money for ukraine but exactly where is all that money going? what is their plan for it? we'll talk about it with florida congressman cory mills. as many as 1thousand migrants could -- 17,000 migrants could be receiving payments for citizens of united states. when "kudlow" continues. when you're a small business owner, your to-do list can be...a lot.

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with ukraine's zelenskyy at the munich security conference over the weaken and as usual the focus was our continuing the war, between ukraine and russia and how the united states is going to fund it but americans, increasingly want to know exactly where this money is going in ukraine and is there any interest in a plan to actually end that war? joining me now is florida congressman cory mills, member of the house armed services, foreign affairs committees, thanks for being here. >> great to see you, david. david: there is a question whether or not president biden is actually interested in dealing with you folks in the house at all. let me just put together a sound bite of president biden today and then of speaker johnson. roll tape. >> when will you meet with speaker johnson to negotiate? president biden: if he has anything to say. >> if has been mentioned i've been requesting a meeting with the president for weeks now, a month. i've been asking to sit down with the president to talk about the border and talk about

national security and that meeting has not been granted. david: congressman, i don't know if you could hear the president, the helicopter was going, he said he wants a meeting with the speaker but the speaker said clearly he has been trying to get a meeting with the president for weeks and he hasn't -- who is telling a fib here? >> well i was just spending the last two days with speaker johnson here in florida and i can tell you he has made multiple requests, not only to meet with the president but also with senate leadership to discuss these foreign aid supplementals. the only thing that came out of the munich conference which is a demand more vocal than ever for europe to actually stand up and do something to pay their fair share. what you're not hearing peace talks and an actual strategy how to end the war in ukraine. let me be clear, this continuation trying to entangle us in democrat and biden endless wars needs to stop and we need to focus on the priorities which is the president passing hr.2 secure the border act and our taking care of the american risk

with the northern and southern borders. i will be clear, i will vote no on all funding to ukraine. our priority and my priority is to be the one who is carrying out my duties, my constitutional oath to protect the american people and that is who i serve, not zelenskyy and his regime. david: well i mean, it is not as you well know, it is not only democrats in the senate that are for this endless funding without the kind of oversight we need. >> you're right. david: there are a number of republicans involved including the leader, the minority leader in the senate. have you talked with those republicans in the senate that don't want any kind of strings attached to the payments to ukraine? >> well look, as i made it clear, more and more the two democrats who run the senate, chuck schumer and mitch mcconnell, have continued to play this neoconservative, neoliberal game trying to fund and fund more wars. we heard more war cries from lindsey graham and all the others. what we haven't heard how we actually secure our border? how do we look look at the prosy

and economic growth strategies? how do we get single point legislation through that actually benefits the american people and drops inflation where inflation as you just talked about in your previous segment is growing higher than the actual minimum wage? i think we need to be taking our priorities here domestically. we also need to focus on the fact, china, russia, iran, north korea geopolitically aligned trying to drag us into a quagmire of warfare trying to prepare a move in the indo-pacific on taiwan this is economic, this is resourced, this is cyber based. we need to look at the evolution of warfare not playing kinetic gun to gun, tit-for-tat bomb to bomb with russia. david: as you mentioned border, let me bring up a simple question, is there anything in that senate bill you saw that you agree with? we know the border patrol agents, some whom voted for donald trump had some things very positive to say? in fact the head of the union was actually in favor of the

bill because of the points that he mentioned. he said some things could be stripped out in negotiation with the house but was there anything you liked about what was in that bill? >> look, what i like and i continue to say how much i honor and respect those at the border, especially our cpb officers who continue to deal with this catastrophe day in and day out it is a human right and national security and health crisis but the bottom line is we put a conservative robust platform with hr.2 on to the platform. i will dot no a lumped bill and foreign supplementals to the american border. i will not explain to the american taxpayers we pay two or three times the borders of another nation before securing our own. the mom and dads get up early and coming home late barely getting by i'm not sending their tax dollars abroad when it is needed here at home. david: the other thing spending in ukraine there was no attempt to pay for it, taking away other things, for example, supersizing

the irs. honestly, just with israel alone, correct me if i'm wrong, israel is about 15 to $18 billion, right? that is how much the supplemental at? >> approximately 14 billion t was an irs offset that would not have increased national debt. david: bingo. 50 billion is how much the administration wants to spend on the irs. you would only have to wick 1/3 of that in order to pay for israel. which is vital interests to the united states. >> yes, but david there is multiple avenues of offsets. we could utilize unused covid expenditures. david: there you go. >> utilize money from up a who was part of the october 7th incident. irs offsets, climate offsets. multiple ways we look at it. our greatest and national security threat is our growing debt. we have $34 trillion. we have no gdp to national debt income ratio strategy. we're not looking reforms of prosperity and growing which are three key things that are necessary. we're continuing to borrow and spend, spend,

1.7 trillion-dollar level that is not sustainable for the american people and the nation. david: all right, congressman, we have to leave it there. cory mills, thank you for being here. appreciate talking to you. >> thank you, david. david: switching gears to the worsening migrant crisis, let's bring in betsy mccaughey, former "new york post" columnist and lieutenant governor and alec lace. good to have you both in studio. nice of you to make it on this holiday. happy presidents day by the way. betsy, as lieutenant governor you're familiar with the safety net assistance part of budget. it is a sig part. it is meant for u.s. citizens. apparently, very quietly, positive hochul has been changing the rules to allow non-citizens who are here, many here illegally, most of whom, probably to qualify for this assistance. what do you make of that? >> that's right, brand new. it is just one of the many sweeteners the democratic politicians in new york are offering to insure that new york

remains the migration capital of the nation, the number one destination for people coming across the southern border. so they're offering welfare that the federal government doesn't offer and other states don't offer. they're offering debit cards loaded up to $1000 a month, migrants can buy preferred foods, culturally prepare the foods instead of prepared meals at shelters. free legal services. unlimited shelter. no cap on number of days you can say. david: at some pretty nice digs. >> hotels for $500 a night. david: 500 bucks a lot of spending would displace money otherwise goes for veterans and other citizens many who served their country. >> the long-term plan. many wonder why they do this. people fled taxes and crime and politicians don't want to give up their congressional seats, so they're packing new york with headcount.

david: that is a charge. i will get to you a second, alec, there is specific charge, they're saying for closing, people like mayor adams say the fed should close the border he in fact wants more migrant -- knife the new york city comptroller saying he wants these people to come in, he wants them to come in. not only that but several members of congress in new york said the same thing. we need these people for redistricting purposes. david: you think that is what they're doing? >> oh, yes. david: okay. alec, i want to switch to politics now, what is happening with the republican primaries are still going on. nikki haley is hanging in there. tim scott, senator tim scott who has become very strongly pro-trump right now, may be a vice presidential part of that ticket had something to say, he didn't mention nikki specifically but he was obviously alluding to her. roll tape. >> the american people are more focused on their future than donald trump's past. what they're mower more focused

on making sure the southern border are concerned. the american people are not asking questions about legal challenges. the american people are asking questions about economic challenges. david: so why does nikki hang on? >> nikki haley, david, is only there, she is serving the purpose of donors continuing to fund this campaign. she has no legitimate shot to win. nobody was smiling more that this decision got handed down that trump had to pay 380 million, nikki haley was smiling along with the lib tarreds tell greating this entire decision. >> good for you. >> only there to attack the president. it is true. let's be honest. she only hoping that there will be a conviction of donald trump and he is removed from the ticket. that is her only path. there is no shot she beats him. david: there are some republicans, not never-trumpers, republicans who are not crazy about trump. who are suggesting even they, are suggesting they focus her attention on biden, not trump. focus on why biden needs to be changed, why he has done such a

terrible job as president. even they are are pushing, do you think they will have any effect on her change of tone where she is focused on biden rather than donald trump. >> absolutely not. i don't think she will stop focusing on trump. that is what her purpose is. that is why the donors have her up there. more candidates, none were attacking biden, exempt for vivek ramaswamy. they were all taking stabs at donald trump. she will continue the tab until the money runs out and she will be gone. >> you want a piece of this. >> she is running behind anybody else on the ticket, right? she should focus on 2028. what she is doing is burning her bridges for the future. david: speak of burning bridges he may have already done, a lot of folks are saying president biden will do a political reset. that is the phrase used by "axios" in a column today during his march state of the union. march 7 is the state of the

union. do you think he has anywhere to go there? >> people are expecting very little of that evening. 76% of voters according to clear politics believe biden is too old. they will be thrilled if he finds the teleprompter and is able to enunciate the words. what i would like to see that night donald trump offer the response on the gop liver. last year he did it as a video. this is a prime opportunity for him to declare his leadership of the party. david: that would be, do you think that will happen? >> i love to see it. this is a bit of gamble to put biden out there for the state of the union. the fact the left-wing media will fan girl over him. david: some have, some haven't. i must say those rooting for michelle obama to step in or governor newsom or whoever, so there is kind of this pull, a little bit of pull. they're not marching in complete lockstep here. >> i think there is a risk of real disruption that evening too because in recent speeches that biden has given live he had many

protesters objecting for support of israel. >> you find out that is true, if they send him out there without shooting him up with the cocktail, if he is out there for novocaine brain they are setting him up for the fall. david: cops in new york are going over very tough time. 5000 injuries from crooks. they have alvin bragg the d.a., immediately catch-and-release. they have the police catch and alvin bragg release. i have to show you, we have that tape of what the mayor is putting out as the way cops are having fun. do we have the dance tape? roll it? there it is. it is just background. you can see what is happening this is what they're putting out. i don't think criminals will be too off put by seeing this video. is that really what we need right now in new york? >> no, but the migrants surge is making this much worse. the statute few of liberty says give us your tire and poor.

doesn't say give us criminals and gangsters. that is what we're getting. david: like a repeat of marry he will. when castro released bad guys he didn't know what to do with, we took them, we had years and years of trouble in miami. this is writ large all over the united states. >> you know too they keep saying illegal immigrants are cog they want a better place to live. now new yorkers will look for bitter place to live. crime is getting out of control. it shouldn't be celebrating this way. we shut get hard on crime. alvin bragg they have a statue of him in mexico. david. betsy, alec, we may be keeping you for another segment because you're so good. the demand for electric vehicles basically flat-lined and the biden administration has admitted it. stick around for "kudlow." we'll be right back. ♪.

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when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi on the xfinity 10g network. david: well there is an ev revolt going on in america. most people don't seem to like electric vehicles. to everyone's surprise the biden administration may actually be admitting it at least up to a point. our own madison alworth is here with more on this. madison. >> reporter: david, the biden administration is reportedly pumping the brakes on an aggressive green agenda

rethinking tailpipe emission standards. the original plan was pushing for 67% of new car sales to be electric by 2032. that means they were looking for a 60% increase in less than a decade. now the administration is admitting that might be too ambitious. the epa is still finalizing the new rule but it seems they might be slow-walking requirements to give automakers more time to reach that goal, not pushing for steep increase in ev sales until after 2030. we are expecting to get updated rules this spring but former president trump making it an issue right now on the campaign trail. >> biden's ridiculous electric vehicle mandate and his green new scam are the all, i mean these, what they're pushing, the green new scam. you know all those cars will be made in china within three years. i hope they know that. >> reporter: the biden campaign responding by saying in part, quote all donald trump knows how to do is lose, just like how he

had america losing the electric vehicle race to china when he was president. president biden is keeping the united states at the forefront of car manufacturing by investing in the future to insure good-paying, union auto jobs end up in america, not halfway around the world. the biden team also acknowledging they need to win over automakers. they do have the endorsement from the united auto workers union, that happened last month, but the president of the union has said several workers will be voting for former president trump in november. this raises the question if this adjustment to environmental goals is in part a play to win over support from that voting bloc. david? david: madison, thank you very much. well the panel was so great we decided to bring them back with us, alec lace, betsy mccaughey, thank you for saying, two months ago, two months ago, now they're having questions about their mandates for evs, i think their push for i think they wanted to go 50-50 within 10 years. two months ago i had a interview with mr. buttigieg, who is our

secretary for transportation and he seemed to be singing a different tune. roll that tape. >> i don't know a lot of people who think americans in 2050 are still going to be driving that old technology that, combustion technology that we inherited. david: americans like it. americans like it. >> the big question is, you're not going to meet a lot of people whoever go back after they have gone electric. david: okay. >> i think that really tells you something. david: betsy -- >> because they're stuck down the road somewhere. david: a month later we had the scene in chicago where all these ev drivers were stuck, had to have their cars towed. i don't think they will buy another ev, do you? >> how about californians told they can't charge their evs at night when they go to bed because electricity is in short supply in california. i have one statistics that says a lot about this. in the united states there are 5000 ev charging stations and 160,000 gas stations. so when you get in a car, you want to know where you get your

fill-up, right? can't on gas. david: alec, we need to spend another three trillion dollars to get ev charging station. >> maybe they took the money away from ukraine to put it towards this. david: there you go. >> e-investments are nice have. they are not a must have. the american people are not demanding them. they're crushing car dealers who can get things off the lot. sooner or later will be a failed operation. this growing green thing will be dissolved. hopefully we move on to go back to regular cars. david: i got a sense what is happening what madison was talking about, is that the president's team is realizing americans are not going for this. not only did they see the scenes in the chicago, but the price of the things. they are much more expensive. >> right. david: they don't have the driving versatility you do with gas-powered. do you think the president's team, the re-election team is overriding mr. buttigieg here? >> they may be listening to trump who said now on tape this is a gift to china on a silver

platter. china already moved very cheap e-investments to europe and captured a big chunk of that market. david: i also want to talk about liquified natural gas. now you have the administration putting a pause on the whole thing, exactly a time when europe is desperate for it. we're trying to hold back russia's blackmailing of europe as they have done before with their own natural gas pipelines i what do you think of that? is the administration going to learn anything about this? >> it is critical for our energy security here, that's the main thing. this is all about america first. this is why you see other countries getting rich off of our mistakes. this is why trump harps on this all the time. let's take care of america first, drill, frack, like vivek has been talking about on the campaign trail. that is where the focus needs to be, david. david: 10 seconds. it is insane this policy. we have so much potential. >> energy independence, energy dominance. it's the key not only to american prosperity but world leadership. david: yeah. alec, betsy, great to see you

both. thanks for being here. we have more "kudlow" straight ahead. stay with us. ♪. we all know that words have power. they set things in motion and make us happy or sad. but there's one word that stands out, because when people say it, lives are changed. it's not a big word. it's itsy bitsy. it's only three little letters. but when you say it, the life of a kid like me can be changed.

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rsv is out there. for those 60 years and older protect against rsv with arexvy. arexvy is a vaccine used to prevent lower respiratory disease from rsv in people 60 years and older. arexvy does not protect everyone and is not for those with severe allergic reactions to its ingredients. those with weakened immune systems may have a lower response to the vaccine. the most common side effects are injection site pain, fatigue, muscle pain, headache, and joint pain. i chose arexvy. rsv? make it arexvy. kudlow: now that's it for the special attention of kudlow and we have another larry's back with you tomorrow, david in for him 20 is the percent, we have elizabeth macdonald to think it next to the next weather. liz: i like talking to you david some just getting well