>> house speaker paul ryan is also briefing reporters in the capitol this morning. that's scheduled to begin in just a few minutes, at 11:30 a.m. eastern. when that gets under way we'll bring it to you live here on c-span. until then, another keverings from this morning's "washington journal." about the senate republican tax bill. point to point to gross domestic product. will increase foreign direct investment by 50%, i the op u talking about

ed piece, didn't hear all of it, but i'm going to read guest: i'm piece, i've been tol d about it, it's wrong. opponents of this bill want you to believe and this is astounding they would suggest but they want people to believe that tax policy has with tely nothing to do the economy or economic growth , if you believe nothinge tax policy has to do with the economy, you're only much like a rock, dumber. host: senator kennedy, we've had several people call thanksgiving is ing compare whatting being proposed now to what we saw ronald reagan and george w. propose, several people making the case it didn't work then and won't work now. do you respond to this? guest: this is not like a pharmaceutical drug trial, where you've got a control group and then you've got another group drug.ets the the economy is very complicated.

whether tax policy works depends the tax policy, it depends on on how hics, it depends well your training partners are doing. the world is in resxegz we're not, that impacts our economy. it depends on technology. you have a lot of different variables, that is why i laugh economists come out and say, i can tell you exactly what is going to happen or not happen if you do this. no, they can give you an sometimes an and uneducated guess, all i can tell ou is what i believe and i wouldn't vote for this bill if i didn't believe that, number one. businesses and people, all things being equal, money they earn better than government can. a lot of my colleagues don't agree with that. believe, number two, when you tax something, you get less of it. f you want more of it, tax it less. and number three, we see it in

he stock market right now, the stock market is not going up because of earnings growth. in anticipation of help being on the way. studied, i've spent 200 hours reading the spill, reading sources, looking at redlich like the parrow story, the article they wrote, at harvard. they must be correct. study of the american economy from 1912 to 2006 and part of tax changes. 1% y find that for every decrease in average marginal tax ate, you will get extra half point of economic output. i believe it is going to work your m willing to come on show and let the american people in the eye and say, i believe t's going to work and i'm voting for it.

if i'm wrong, i will come back. host: what do you think about proposals like senator corker placing trigger necessary place o make change fist need be, depending if the economy doesn't work? guest: i will vote for the bill, even if bob insists putting that in there, but i don't like it. i don't think we need trigger, i don't want a trigger that automatically raises taxes, i a trigger that automatically in there, butcuts discretionary spending. fool can vote to raise taxes, that is easy, that doesn't take any guts to do that. what is tough is to cut spending and that is the fundamental around this place. while you and i have been talking, we probably borrowed $5 or $6 million to run this place, borrow about a million dollars a 1.4 billion a day, that is how much we deficit has been the most surprising thing to me, since i washington is how little will there is to actually

scrutinize spending. host: when it comes then to issues, senator, about the were former department of -- head of secretary of department of in louisiana. when you look at those from that hat, how do you justify come as ly what could far as the debt or deficit of the united states versus the the tax bill hat could bring? you cited growth in there, is compensate growth to for that? guest: that's a great question. obviously we've got a debt and a deficit problem n. fact, our debt is growing faster economy. and what we've got to do with this bill, strike a balance, got to pass tax cuts we can afford. now, based on my analysis, i'm saying i have all the answers, but i have an opinion and it is reasonably informed. spent a lot of time on this bill. i could be wrong, but i don't on my am, based

analysis, all we've got to do is average gdp growth to between 2.4 and 2.6 average over the next 10 years and this bill will play for itself. says right now despite the recent increase in our gdp, they we're going to grow about 1.9% per year over years.t 10 so if we can add an extra, i don't know, let's be fair, 5.5 and 1% to gdp growth, i think we'll be able to do that just with the increase in foreign direct investment and talking about repatriation money, but about the fact that f you know the corporate tax rate to 20%, lower pass-through ate, you're going to have capital that wants to come to america and invest here. mccrone, in hink france, nobody ever confused him conservative, why does he want to cut france's

25%?orate tax rate to why did president obama say we need to cut the corporate tax rate to 28%? because they know, they know that it will attract investment. host: senator john kennedy, republican from louisiana, and a member of the budget and thanksiations committee, for your time. guest: thank you, enjoyed it. host: back to you calls, t arline, in gold hill, oregon, democrat's line. hi. caller: hello. trump's speech in missouri and the one thing that speech was in that that this is a tax cut, not a reform. reform, reform, us and rightve got now we are hooked, not line and inker yet, they come out and tell the truth, it is a tax cut of the tax cut is going to the wealthy and i

believe that senator kennedy very well the stock market and the economy, as they keep is doing so well, no reason to cut taxes when we have $200 billion worth of natural help er that we need to our states recover from and we have infrastructure probably a trillion dollars that needs to be done in our cities states.our he roads that flood interstate 10 flooded in texas and i want to say to mr. kennedy fit come't work, he says he'll back to tell us. mr. kennedy, if it doesn't work, whether you'll be back at all. thank you. indiana, o mike, independent line. caller: who is it? host: it's you, go ahead. caller: okay. this tax bill, they ought to go consumption taxconsumption tax

to pay off at least 500 million dollars a year on the national debt, set it for the national debt. amount,dy pays a certain democrats, rybody, republicans say get control of spending. a put a tax and make progressive, they won't spend money. and i'm 72 years old, my wife live on $1700 a month, we got a house payment, this tax will help me, but i'd grandkids my kids and along at grandkids get >> just a few minutes until

capitol hill briefing. democratic leader nancy pelosi called for michigan congressman johniers to resipped following multiple allegations of sexual harassment. house speaker paul d. ryan will be briefing reporters in five minutes. until then more on the republican tax bill from "washington journal." i've life than had. host: that is mike in indiana, joining us from capitol hill, peters, democrat from michigan. sir.morning, guest: good morning to you. host: we've heard many democrats, if not all will not bill, will you be one of them? guest: as written now, i won't be supporting it. changes. if it i would love to support a thoughtful tax reform bill, that now, i want we have to work on a bipartisan basis, that is why 17 or 16 of my in talking oined me about how we'd love to work in bipartisan to get to a place helps lps the economy, middle class families, but we're not there yet. host: specifically what changes like to see? guest: one, you can't have a tax

bill loaded for folks at the very top. the top 1%, folks ealthiest folks in the country get vast majority of tax breaks. i'm believer tax policy works in from onomy, if you grow the middle out and that means middle-class families, put more monnemiddle-class family pockets that creates a stronger economy, not trickle-down approach that time and time again. we're back to trickle-down economics, which we know is a failure. let's grow the economy from the middle class that, is my view. had senator kennedy on previously, he talked about if it was passed, he said growth happen and if that growth happened, the tax bill would be for. guest: i think that would be hard to see that happen, given the way it's structured right now. we see when you give tax breaks to the wealthiest folks, that translate and increase consumer spending. when you look at corporate tax my joint ell, in economic committee yesterday, we

yellin, does this lead to invest snment she said the weak.ic links are very look at what c.e.o.s are going to do, listen to corporate what they are saying they doll with this tax break and they are saying they will do buybacks, paying money back to shareholders, that they owngoing to be buying their shares, inflates their share price, great news if you are a shareholder or hold stock options. yellensdshgs that increase wage? absolutely not, share buybacks do that, that is what we see executives telling us they will do with the money. is not thoughtful process, thoughtful tax policy looking fairness and efficiency and simplicity tis not in this bill. host: what is the long-term picture under this bill in your estimation? guest: well, we know some 1.5 trillion re dollars, we'll see what other

reports come out. scoring, be dynamic you got to look at the methodology of that. agrees, every economist you're talking about a large increase in the federal deficit, to realize that wealthy folks will do well, if you are a shareholder, you are to do well because of stock buybacks, but you will not see increase in wages. $50,000 a year, somewhere in that range, may get $100 tax benefit. recent report said 40% of people ill see tax increase with this bill and in the process, we're going to leave a huge deficit for our children and grandchildren. you know, it is amazing to me, like tolican colleagues say they are fiscal conservative. you can't be a fiscal and run up $1.5 trillion deficit that our children and grandchildren are you can have a giveaway for folks who are extremely wealthy. sense, not good tax policy, not about driving the

future of our economy where we out and the middle make sure we empower middle class families to be the engine of growth in this economy, which we know. host: senator peters, you serve committee, security your thoughts on north korea and what faces the united states of recent y in light test of their? guest: it is obviously very troubling what is happening, is definitely on path to be able to create a missile that will reach the homeland, which is unacceptable. we can't tolerate that. hat we need to do is have a full diplomatic effort to stop north korea and that means ngaging the chinese more, the chinese have made some positive moves to do that. to do more, the trump administration needs to engage diplomatic effort and quite president trump has to stop crazy tweets that he puts out, that does not help the situation. he needs to be an adult, he needs to be the ommander-in-chief of the world's most powerful military and act like it, that means

diplomacy. host: what deterrent should we ave should a missile be launched at the united states? guest: we have missile defense ystems in place, i'm currently co-sponsor on bill and working for language to increase our intercepter system, hopefully putting one in the midwest, in addition to ones we in now in california, alaska, i think we can deal with can intercept, we it. we need to expand that intercepter capability, which i need to focus we on diplomacy first and foremost hile we continue to develop missile defense system. host: senator gary peters, thank you for your time. you.t: thank host: now we go to john mcardle. senate heard from the and more than 50 callers this morning talking about the tax facing a l that is vote either late tonight or early tomorrow in the senate. here is latest nationwide poll

from reuters, it goes out senate tax the reform bill. opposition has grown among tax cans to the republican plan before congress, with 49% of people who are aware of the opposed it,ing they up from 41% in october, according to that polling yesterday, in addition to the 49% who said they oppose 29% said they , supported it and 22% said they didn't know. poll of 1257 adults around the country, when asked most ands to benefit the from the plan, half of all american adults selected wealthy corporations, 14% said all americans, 6% picked middle 2% chose lower income americans. of course, the only poll that today is that roll call vote that is expected tonight or early tomorrow morning in the senate. al,: ohio, republican line, good morning. caller: hey, yes, thanks for the

call. what i don't understand is the democrats should at least go put a nd maybe try to little bit of input in. it's been like what, four or five times they didn't show up. mr. obama was in power, and mitch mcconnell guy, even if he didn't like the guy. at least they should do that, class, quit talking about somebody else don't have class, you know. -- quick, about the host: indiana, republican line, walter, hi there. caller: good morning, thank you for taking my call, i do appreciate it. i am so excited and hopeful they going to pass this tax overhaul system. points.uick i'm an old new yorker that moved indiana 20 years ago. 20 years ago my property taxes on long island were 6800 a year. 12,000.'re gettin