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>> welcome to special kudlow imf david asman in for larry, the department of justice is putting pressure on the white house to release the transcript of the interview between president biden and sp special counsel robert hur. >> in new york a court is ordering former president trump to pay 355 million in damages, putting the fate of his big apple empire in question, folks who do business in new york are scared to death that this decision could put new york's economy into a deep freeze, kelly o'grady and david spunt with details. we have fallout from special counsel's hur report on president biden. reporter: the department of justice is willing to cooperate and turnover the transcript if several hurdles are cleared. in a letter sent friday to the chairman of the big three committees looking

into the impeachment of the president, doj official wrote: >> whole premise of the investigation was special counsel hur was looking into classified information found at home and personal was on the of president biden. once any classified information is redacted white house would be able to look at any economy of privilege if -- executive privilege if warranted. that could slow down the process. with executive priv ridging ridging i am told there is not much that doj could to do block the privilege. and with the law, longstanding department of policies and principles and available resources. attorney general merrick garland is putting pressure somewhat to the white house to make a decision as white

house also has a copy of the transcript taking pressure of of the department of department of justice and robert hur to testify on march 12. asked about that october interview that took place in part of two separate days. >> thank you, david spunt. now to new york, another story that has been simmering, kelly o'grady from trump tower in new york city. reporter: great to see you. that is right friday 's ruling has fallout, the business community in new york, it is having a chilling affect, concern if this could happen to former president trump what stops same fate for coming for real estate developers or other industries in new york, a trump spokesperson said that every member of

new york business community should be concerned with this gross overreach and brazen attempt by the attorney general to exert limitless power where no private or public large has been established. a mayor hedge fund program said that sets precedent for every property owner to be oaarbitrarily dee claireed guilty. >> i would never invest in new york now, do you think any foreign epst institution or any pension fund would touch new york, no, that is why new yorkers should be concerned. reporter: path forward for president trump is bumping, phrasing a 450 million dollar fine if you include interest. and a biggs question is how -- big question is how he would cobble together this sum.

selling the new york assets maybe premature, the moratorium on his financing efforts he can't get alone from this ruling for 3 years, which means me can't borrow from anywhere, except smaller institutions or friends, appeal comes next he has to post 450 million in escrow or put up a bond, high and his lawyers are saying he is ready to meet that deadline in 30 days. >> it looks like they are setting him up for him to lose. not only are they finding him this -- fining this h huge amount and forcing him to borrow money is impossible. thank you, kelly. >> for more we bring in pennsylvania congressman scott perry. on business community in new york, they are wondering, if it could happen to him, it could happen to us, we have governor hochul in new york trying to dispull things but she said -- dispel things

but she made them worse. >> i think that it is really an extra ordinary unusual s that the law abiding and rule following new yorkers that are business people have nothing to worry bthey are very different from donald trump and his behavior. >> that is con firming that this was a political decisions. not blind justice at work, but a political hack job against donald trump? >> that is how i see it. very different than donald trump, donald trump is running for president, we hate donald trump, but don't you people worry, we want your money, we want you to invest in new york but not this guy, because he is running for president and might win, i think that kathy hochul said the quiet part out like and the whom world heard it. >> she is not brightest bulb. we have something the

constitution. that constitution has a 14th amendment in it. now state shall deny to any person within its jurisdiction the equal po protect of the laws, though body but donald trump has been affected by this in the way high was because of what he -- he was because offed what he did, that seems to be a violation of 14 amendment. >> well, why wouldn't the left use the constitution against this president. they don't actually care about the constitution, they are interested in any kind of new way to use lawfare against the former president. to make sure he does not become the future president, that is what is happening, we have seen it from kathy hockhochul and this

judge and they made this ruling he has to comply within 30 days, ern knows what is happening. unfortunately president trump has to deal with this and satisfy the circumstances and as you said, they are setting him up, so there is no way he can succeed, this is what the constitution was conceived to prevent. >> and meanwhile he is running for president, not like he has nothing else to do. but the idea was to fill his time with the lawsuits and prevent him from campaigning, but somehow he manages to do it because he is donald trump. he does those sort of things. >> this is the ultimate in election interference, it is fascinating that president biden is claiming executive privilege we gu guard -- regarding the documents and coming to congress, yet they deny executive privilege for

president trump when he with the documents, they don't want donald trump to get near the presidency, that is what the root of this is. >> they are showing the american people is that juxtaposition of donald trump dealing with the lawsuit, having to come up with a huge amount of cash, which normally rich people down have, it is tied up in assets and running for president at the same time, doing a pretty damn good job of running for president, running around while president biden has this problem just getting up in the morning, apparently, he goes bed so early they put a stop on all of his activities and he spends most ort suggests that he really has enough trouble so that is why he was not charged with a crime because of his hoard of documents he took when he was senator and vp. are you guys in congress

going to demand to see the transcript of that hur conversation with the president? >> of course we are, 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 with you get the congress one that, you know that is done by the security clearance folks that do real ones that take a year to get, we have those clearances as well. there is no reason that congress can't now that case is over, and has been determined what the fate will be, it is nothing there, is no the reason executive privilege or classification that stops members of congress from looking at documents and making their own determinations. >> now i want to turn to that georgia case against donald trump. which is a very complex case, yet handled by a cup i'm of prosecutors -- a couple of prosecutors who seem to be like keystone cops on steroid, prosecutor

da fani willis, and her sidekick nathan wade, who turned out to be her boyfriend, this is 2020, a tape, i want to play it for you. >> sitting with someone today, that actually wants to make a difference, because they deserve a d.a., that won't have sex with it is employees, because they deserve a d.a. that will not put money in their own pocket. >> knowing what we know now, won't have sex with her employees, knowing when he know now, shouldn't she be disqualified. >> of course, like i said, democrats and the left know no bounds with hypocrisy, she capacity even live up to her own standards why should she expect the voters to expect her to live up to them, they -- she should spare them the pain to have to continue with her

leadership, in that position, just resign now, if she had any respect for herself or voters or t the constitution and the law she pro fessed up to holds. >> we have more to talk about jack smith who has a checkered background of his own, scott perry thank you so much, happy president's day. >> >> god bless you. >> coming up, remember this -- >> next big battle will be whether very wealthiest among us began, biggest corporation paying schwerin. share their fair shar. >> a new report showing what % of taxes 1% are pay. >> we talk about it is russ vought and michael faulkender when c kudlow continues.

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>> begin to pay their fair share of federal taxes. david: sorry mr. president, new data shows since new trump tax code went into affect, top 1% paying 40 -- were paying 40% of all taxes to 45%. joining us now russ vought former omb director. michael faulkender, for economy policy and chief economist at afpa and economics professor at university of maryland, i could be kind of mean and talk about his family not paying their fair share, but i want to talk about another fib, only rich benefited from the tax cuts, we knew in 2019 when the data gain streaming in and "new york times" of all people reported on this, that the

65% of all tax payers, this was in "new york times," 65% of all taxpayers got a tax cut from the trump law only 6% paid more. i am wondering, russ vought, was this not a blue collar bonanza? >> it was, at the time you saw every economic group, every demographic was benefiting from the economy that was ab built as a result of that tax cut. they -- the left has to go and essentially put these talking points out, but, we know from recent history because the american people saw the benefits in their pocketbooks, that these accusations are 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, 2025 sunset of most

of tax code that you guys set up under the trump administration. they also want things like wealth tax, where people will actually be tacked on the -- taxed on basis of stuff they have whether it is stocks, art work or gold that increases in value before they have sold it. >> that is right, if we down do anything about it -- don't do anything about it everyone we did on personal side will expire in 2025. that means, the doubling of standard deduction, increase in marginal rates, everything that made the code more progressive. we saw the bulk of american people at lower and middle en of income distribution saw ally duck --ly ducktion in taxes, that goes away in 2019. the census pu bureau came out said that household income rose 6,000 on a real

income basis, we had lowest poverty rates, and lowest unemployment rate in 50 years to argue they were to benefit of wealthy, government statistics tell us how probably share -- prodly shared it was. david: you touched on this, more and more the democrats are losing their base whether it is the black minorities or l latino community, they are finding out they have done better under the trump administration than the biden administration. >> no doubt, they want a sane country, a safe country, they want a prosperous economy, they don't want to pay hundreds of dollars each time at grocery store, from a data point perspective, with how

they judge this economy, they say, i was better off under trump than i am under biden, why would i continue to vote for these policies. david: what happens, michael, if in fact it is the other side that wins, if trump not only takes over the house but republicans takeover both houses of congress, is it conceivable that we could have some kind of new tax code, one thing you didn't do, you did a lot, but you done do a lot about simplifying the tax code, there may be around the edges but a big simplification bike a flat tax -- like a flat tax. the one that steve forbes, everyone pay the size, instead of super sizing the irirs we could down size it. >> that is right, we made a down payment on that with tax cuts and jobs act, when you double standard deduction, a much larger portion of american people don't have to itemize, take

the amount of income, apply standard deduction and rate, that allows us to get people off of the adpek addiction to many of the special interest breaks and move forward dpr greater fairness. if we could get it down to a secretary mnuchin discusses, people could file their taxes on a post card, we have do it sequentialy. david: the spending spree, this administration is addicted to spending more that they don't have we have i think annualized deficit of about 1.6 trillion dollars, it is growing. the last quarter came in, i think it was 530 billion for last quarter, where will it lead? i know supply side saying that degreing economy could cure everything, but there is a big 6 neck in your economy right now -- this is a big sickness in your

economy right now. >> it is huge. the spending that this washington uniparty is doing right now on annual basis is not something you solve by growth, growth is a part of the answer, it have a part of a planned think about, a -- balanced budget, but you have to tackle spending, not only they are not tackling it but they are worsening it, they will pass in march another spending bill, we have interest costs from 350 billion when we left office to now 8 sift billion per year, headed to 1.6 trillion that is justin rift, that is what we would spend on deficit, we'll have 20 trillion on deviate added over next 10 years, that with static assumptions that does not include cost of extending the tax cuts that we've been talking about. our fiscal picture is worsening, and this administration just making it worse. david: to put it in something that people can wrap their head around.

i am told that by the end of this year, just servicing the debt will cost as much as our spending on the military, is that right? >> that is right. >> unbelieve able, then we have all of the regulations, last for you michael, green energy regulations continue, but it is all kinds of things, how quickly could a trump administration turn this around? >> we're already getting to work at the -- identifying regulations that we can remove and start process of eliminating, they are trying to get as many through as possible, prior to where in congressional review act would be applicable, if we cannot reverse it lou the review act let's reverse it lou reconciliation processor beginning process of due rule making, but -- through rule making but we have to get started on that by day one, that is where former president trump called for

potentially a hundred executive order to direct agents and departments to get to work undoing the damage done. david: i remember in 1980, heritage pound d foundation put together a bblueprint for the reagan dang. >> coming up, democrats want more and more money for ukraine, but where is it going? what is their plan? we'll talk about if is florida c congressman cory mills. betsy mccoy and alec lace will discuss it on set when kudlow continues.

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david: members of congress and bi biden

administration met with ukraine's zelenskyy over the weekend, as continue our focus was war continuing between ukraine and russia and how the u.s. will fund it, americans want to know where this money is going in ukraine. is there any interest in a plan to actually end the war, joining me now florida congressman cory mills. great to see you, you know there is a question of whether or not president biden is interested in dealing with you folks in the house at all, a sound bite of president biden today, and then of speaker johnson.. >> it has been mentioned i have been requesting a meeting with the president for weeks now a month, i have been asking to sit down with the president to talk about the border that

meeting has not been granted. david: i don't know if you could hear, the president said he wants a meeting with this speaker, but the speaker said he has been trying to get a meeting with president for weeks, who is telling the fib? >> i was spending last two days with speaker johnson here in florida, i could tell you he made multiple requests to not only meet with president and also senate leadership. the only thing that has come out of munich conf conference is demand, for europe to stand up and do something. you are not hearing is peace talks and all strategy on how to end wart in ukraine. this conditioning a of trying to -- continuation of trying to entangle us in biden's endless war needs to stop, we need to focus on priority, which senate passing hrtr2 secured border act, i will vote no

on all funding to ukraine, our priority is to be carry out by constitutional oc oath to protect the american people,. david: it is not only democrats in senate that are for this endless funding. without the over site we need, there are a number of republicans involved including minority leader. have you talked with those republicans in senate that don't want any kind of strings attached to the payments to ukraine? >> as i made clear, more and more, the two democrats who run senate chuck schumer and mitch mcconnell, have continued to play this newo conservative game, to fund more war, we heard more war cries from lindsey graham and other but we have not heard how to secure our

border, and get s single point legislation through that benefits the america people. i think that we need to take our priorities here, domestically and focus on fact that china, russia, iran and north korea, they are geo politically aligned and trying to drag us in a quagmire of warfare and prepare their move in e indo pacific in taiwan, we need to look at evolution of warfare not playing tit-for-tat with iran. david: i want to talk about israel. but since you mentioned the border. is there anything in the senate bill that you saw that ark agree work we know -- that you agree work we know border trel patrol agents some of whom voted for donald trump it

positive things to say. was there anything you liked about what was in the bill? >> i have liked and continue to say how much i honor and respect those at the border, our cvp officer whose continue it with catastrophe day in and day out, bottom line we have put a conservative and robust platform with hr2 on the flat form, ill not do a -- i will do the do a lumped bill, i am not paying 2 or 3 times amount of money to second cure -- secure the borders of another nation before securing our own, . david: the other thing, about this spending on ukraine, there was no attempt to pay for it by taking something away from other things, for example super sizing the irs. and just with israel alone,

israel about 15 to 18 billion right? and -- >> approximately 14 billion, ain't irs offset. david: i mean, 50 billion is how much the administration wants to spend to the irs. you don't have foe take one-third of that to pay for israel. which is -- >> there are multiple avenues. of offsets we could utilize unused covid expenditures or unrwa, a part of october 7, and irs offset and climate offsets there are multiple ways to look at it our greatest national security threat is the growing debt, we have 34 trillion and no gdp to national debt income ratio st strategy, we're continues to borrow and borrow that is not sustainable for the american people or the nation.

david: all right. congressman, cory mills thank you so much efficient talking to you. >> , appreciate talking to you. >> thank you, david. david: bringing in betsy mccoy, alec lace, hoist of first pa class fatherhood podcast. happy presidents' day. betsy. as lieutenant governor, you told me you are familiar with something called safety nit assistance part. part of the budget, for u.s. citizens, now quietly governor hochul has been changing the rules to allow noncitizens who are here, many illegally, to qualify for this assistant. >> brand-new. one of many sweetens they are offering to ensure that new york remains migration

capital of the nation. number one destination. they are offering welfare that federal government does not offer and other states don't, they offer debit cards loaded to $1,000 a month so migrants can buy their preferred foods culturally appropiate, incid of settling for prepared meals that are handed out at shelter, and free legal services, and shelter for free, hotels for $500 a night. david: a lot of this spending would displace money that would otherwise go to veterans and other citizens. >> the long-term plan, everyone wonders why? new york lost 400,000 people in last 3 years, they fled the taxes and crime, and politicians, they don't want to give up their congressional seats, they are packing new york -- >> that is a charge you

made, they say they are for closing people like mayor adams said that fed should close border, but he wants more. >> i have new york city controller saying he wants these people to come in. he wants them to come in, and 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 are doing? >> oh, yes. david: to politics now, alec, and republican primaries are still going on nikki haley is hanging in there. senator tim scott, very strongly pro-trump, may be a vice presidential part of the ticket had manage to say. he didn't mention nikki haley specifically but alluding to her. >> american people are more focused on their future than donald trump's past. they are more focuse focused on is making sure the s southern border is

secured, they are asking questions about economic challenges. david: why does nikki haley hang on? >> nikki haley is only there serving purpose of donors that continue to fund the campaign, she knows she has no legitimate shot to win, there was nobody smiling more when trump had to pay 387 million, nikki haley was smiling with other left wing lib towards. tards. >> good for you. >> she is not there to win, she is only hoping there will be a conviction of donald trump and he is removed from the ticket, that is her only path. david: there are some republicans, that are not crazy about trump, who are suggesting even they suggested shy focus her attention to biden, not on trump. focus on why biden needs to be changed and done such a pterrible job at

president, do you think they will have any affect on her change of tone, she is focused on biden rather then trump. >> absolutely not, i don't think she will stop focusing on trump that is her purpose, that is why the donors have her up there. i think you will see her to continue this path until the money runs out. david: do you want a piece of this. >> i think she is running behind anyone else on the ticket. she should be focused on 2028. what she is doing now is burning her bridges for the future. david: speaking of burning the bridges, i think he may have done that, a lot say that president biden will do a political reset. phrase that was used by by axios in a college today during his state of the union, do you think he has anywhere it go. >> i believe most people are

expecting very little that evening, 76% of voters believe that biden is too old, they will be thrilled if he fined the till prompter and can aconfidenceiate. i would like to . >> i would like to see donald trump offer a response, but this is a treprime opportunity for him. david: that do think st would happen. >> i would love to see it, it is a bit of a gamble to see biden put out there with the state. david: those who are rooting for michelle obama to step in. or governor newsom, they -- there is a pull a little bit of pull they are not marching in complete lockstep. >> i think there is risk of real disruption that evening too, in re recent speeches that biden gave he had many protesters

objecting for his support for israel. >> if they send him out there without shooting him up with the cock cocktail to get through it,.. david: another new york story, cops in new york going through tough times, i think over 5,000 injuries from crooks that have been -- then they have alvin bragg. d.a., catch and release. they have the police catch and alvin bragg releases. i have to show you, i think we have the tape of what mayor is putting out as way cops are having fun. the dance tape -- there it is. just background. this is what they put out. i don't think that criminals are going to be too off put by seeing this video. >> you know -- is. david: is that what we need right now in new york. >> the migrants are making this much worse, statue of liberty give us your tired and poor, not your criminals and ga gangsters.

david: when castro released bad guys and he didn't know what to do with them, we took them in and we in years and years of trouble in miami, this is all over the united states. >> they say that illegal immigrants are coming because they want a better place to live, now new yorkers will look for a better place to live, the crime is out of control, they should not celebrate this way, we need to get hard on crime, but they have a statue of alvin bragg in mexico. david: betsy and alec, we may be keeping you for other segment. you are so damn good. >> talking about the electric vehicle flat line, and maybe biden administration ready to admit it stick around withant kudlow we'll be right back. aaaaaah. got it. earn big with chase freedom unlimited.

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david: there is an electric vehicle revolt in america most people don't seem to like electric vehicles, andbining may actually be -- biden administration may be admitting it, madison alworth with more. reporter: biden administration is reportedly pumping brakes on aggressive green agenda by rethinking some of the tail pipe emission standards. the original plan pushed for

67% of new car sales to be electric by 2032, they were looking for a 60% increase in less than a decade. now, the administration is admitting that may be too ambitious, ep epa is still finalizing the new rule. we're 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 -- these are ab the green new scam, all those cars of made in china within 3 years, i hope they know that. reporter: biden campaign responding by saying in part: >> president biden is

keeping the united states at the forefront of car manufacturing by investing in future to ensure good paying union auto jobs end up in america. the biden team acknowledging they need to win over automakers, they have the eners dors endorsement from united auto worker union but president said that several of their workers will be voting for president trump in november, raising the question of if this adjust is in part a fly win over support from the voting bloc. david: madison thank you so much. >> panel was so great we brought them back with us, alec lace and p betsy mccoy, just two months ago, now they are having questions about mandates for ev 's. i had an interview with mr. buttigieg our secretary of transpor

transportation, she seemed to be singing a different tune. >> i don't know that a lot of people who think that americans in 2050 will still be driving the old technology.. >> americans like it. >> the question is -- no, you are not meeting a lot of people who will go back after they have gone electric. david: betsy. >> because they are stuck down the road. david: a month later, we had the scene in chicago where all of these ev drivers were stuck, i don't think they will be buying another ev . >> and californians who were told they can't charge them at night when they go to bed because electricity is in short supply, i have one statistic, if the united states, there are 5 thousand ev charging stations, and 160 thousand gas stations, when you get in a car, you want to know where you get your fill up, count on a gas station.

>> we need too spend 3 trillion to get the iv charging stations. >> maybe they will take it away from ukraine. the ev 's are a nice have, not a must have, they are crushing auto workers, the car dealers cannot get them off the lot, this snies to nice to see, sooner or later the gr green thing will be dissolved. david: i get a sense what madison was talking about is that president's team is realizing that americans are not going for it they saw the scenes in chicago, then there is the price. they are more ebbs penceive -- expensive. hey dondo you think that president's team, reelection team is overriding mr. buttigieg. >> yes, they may be listening to trump who said just now on tape, this is a gift to china in a silver

platter.. david: and talk about liquefied natural gas. the administration putting a pause on the whole thing when europe is desperate for it and holding back russia's blackmailing of europe. what to you think, will this d administration learn anything about this. >> this is critical for energy security, this is about america first, you see other country get rich off of our mistakes, this is why trump harps on this all of the time, take care of america first, drill, frack like vivek has been talking about, this is why focus needs to be. >> it is insane this policy, andry we have so much potential. >> energy dependence and dominance. david: alec and betsy thank

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