mandate vaccines for companies are more than a hundred people? >> i can promise you this, many, many states will file that lawsuit. we've already organized it, we're just waiting to see what happens, what the actual regulation says. edward: ken paxton, thank you for your time. i'm edward lawrence in for bleblgd macdonald. you're watching "the evening edit." that does it for us. have a great weekend. ♪♪ larry: hello, everyone. welcome to "kudlow," i'm larry kudlow. joe biden and nancy pelosi were force ifed once again to delay a vote on infrastructure as moderate can and progressive democrats remain at odds over the spending bill framework. hillary vaughn live on capitol hill. good evening, hillary, what's cooking? >> reporter: good evening, larry. you are having déjà vu because this is the second time that democrats have blown past a

deadline to pass the infrastructure deal because democrats were deadlocked. and it wasn't because there wasn't a lot at stake. president biden himself pleaded with democrats yesterday at their meeting telling them this, quote: i don't think it's hyperbole to say that my presidency will be determined by what happens in the next week. i need you to help me, i need your vote. but progressives didn't budge. instead, they flexed and said even with this legislative text, it was not enough for message to give the green light to the infrastructure package. this is really the second showdown between speaker pelosi and house progressives, and progressives have come out on top proving they possibly wield more power than pelosi and the president on certain issues. the future of biden's agenda, what he can get done is also up in the air now. speaker pelosi asked for a vote yesterday telling members this: when the president gets off that plane, we want him to have a vote of confidence from this congress in order for him to

have success, we must succeed today. but they didn't succeed, and the framework deal was not a done deal. pelosi and schumer have anticipated that they can make tweaks into next week. so, larry, it's unclear how today is different than yesterday ask and different than the day before because really they are in the same position. there is not a final agreement from the four big players here. senators manchin, sinema, sanders and progressives, on this framework deal. changes can be head to it, so it's the -- made to it, so it's interesting to see where things go from here. larry. larry: they didn't even take a vote. [laughter] i mean, he begged his own party, and they didn't even take a vote. so you're right. the only thing difference from yesterday and today is today's friday and yesterday was thursday. hillary vaughn -- >> reporter: yeah. larry: great stuff from capitol hill. see you next week. all right, folks, so day two of president biden's plea to his democratic party to pass key

climate legislation in the infrastructure bill and the reconciliation bill, to have his back at the glasgow, scotland, u.n. climate summit. the reconciliation bill has about $a -- $550 billion and the infrastructure bill a couple hundred billion. joe manchin got rid of the clean electricity plan which is a blessing. but still, the whole idea that we're going to shrink our energy power base by abolishing 80% of that fossil fuel base with oil, natural gas and coal, is ludicrous. and totally unnecessary. if we ever did it, which we won't, but it is unnecessary. it would, the we did it, destroy the economy. make no mistake about that. the threat is abolishing fossil fuels. not making these phony climate change spending policies. i mean, take a look at britain.

when the north sea winds stop blowing, the economy tanked. germany, which tried renewables, now is dependent on coal. or france, backed away from their sensible nuclear power policy and instead went to gasoline taxes to curb driving. all that led to plungeing polls and hundreds of thousands of marchers every sunday. finally, that krone relented. -- macron relented. if it will not wreck our economy nor will temporary, brief natural disasters. we have bjorn lomborg coming on later in the show to debunk all these crazies. but here's the point. the progressive left walked out on joe biden. now, as a distant observer, looks to me like a big argument between the left and the far left.

and my reaction is to quote that pole on, of all people -- napoleon of all people. he did say in 1805 after his victory at usaer lits, and i'll quote, never interfere with an enemy while he's in the process of destroying himself. end quote. now, i don't really have a dog in this fight between the left and the far left. i think they're both dead wrong. now, it's true i've been9 rooting for joe manchin and kyrsten sinema to cut dangerous spending and tax-hiking proposals. every poll says voters and taxpayers believe more spending leads to higher inflation, and higher taxes leads to lost jobs. only former ted head janet yellen -- fed head janet yellen seems to believe more spending generates lower inflation ask more jobs. really? we're certainly glad that when she was chief of the fed, she never opined on fiscal policy. now she's out of the closet, and

it's not good. the new spending number that's circulating around washington is $1.7 a 5 trillion. you know, i think it's phony bologna. loaded with grimmics, not -- gimmicks, basically the democrats are are scoring permanent programs as one-year temporaries. like exstanding the childcare tax credit for one year at a cost of $110 billion when in fact it was a ten-year cost of well over a trillion. and much worse in the outyears. and ditto for expanding obamacare subsidies. the journal puts the cost at $4 trillion. i figure if the democrats reveal their true intentions of a permanent and reckless expansion of the government's welfare state, it would score far i higher than that. meanwhile, these late entry or

reentry tax hike proposals such as a corporate minimum tax for domestic and torn company income -- foreign company income and higher marginal tax rate such as a 5% surtax over 10 million and if 8% above 25 million which, by the way, will be paid for by s corps, llcs, wholly-owned proprietorships. basically, the backbone of american business. this will be a huge discouragement for investment, capital formation, job creation and higher wages. you know in blue states like new york and california the top marginal personal tax rate could come in around 60%. that's right, 60. that's higher than europe. and i'm assuming the goofy billionaires' wealth tax on unrealized capital gains has finally been laughed off the table, but who knows? who knows?

so, honestly, i'm going to take the napoleonic position. now, i know he could be a megalo maniacal totalitarian. i know that, i get that. but even those kinds of people have occasional wisdom. so i'll quote him again. never interfere with the enemy while he's in the process of destroying himself. so joe biden's gone to glasgow empty handed. no tears from this source. you know what i'm going to say. save america. if kill the -- kill the bill. and that's my record. now, joining us new york congresswoman and republican conference chair the greatest lease stefanik. elise, thank you very much. so, elise, it's tragic, isn't it, that the democrats wouldn't even take a vote to help their guy at the climate summit in gas go? are you shedding any tear it is yourself on this? -- tiers

yourself on this? >> i am shedding tears, larry. democrats are in complete and utter disarray. it's totally dysfunctional. but, frankly, that's good for the american people in the sense that we did not have to swallow this horrific spending bill. this would have been the highest tax hike in our nation's history as well as the largest spending bill this our nation's history. it is a bad bill, and you are exactly right. the democrats are trying to cook the books. they're trying to make this bill appear to be less costly by expiring government big programs in a short window when they have every intention of these hugely-expanded government programs to go on in perpetuity. this bill includes mass amnesty for illegal immigrants as well as significant, significant government funding. it eliminates the bipartisan protections of the hyde amendment which insures taxpayer dollars don't go to fund abortions. this has hundreds of billions of

dollars of green new deal subsidies, and it has tax hikes that are going to kill job creation. and it is also economics 101, larry. as we're facing historic inflation and the most expensive thanksgiving dinner in u.s. history, the last thing you want to do as a policymaker is put trillions -- spend trillions and trillions of dollars that we don't have. and that's exactly what the democrats are discussing. so thank god they didn't jam through the bill. we need to insure that this bill does not pass, and the american people need to stand up, call their members of congress and say no. larry: well, ms. stefanik, you got your boxing gloves on. like to see it, terrific. lot of energy. you know, it's interesting to me, it's a sidebar, okay? it's more my if world than your world, but your world is a big world. so you have this janet yellen who was chair of the federal reserve, now she's the treasury secretary. she's out there saying more spending and taxing is going to cut inflation.

but larry summers, a former bill clinton treasury secretary, is out there saying, no, more spending is going to raise inflation. now, what do you make of that? is that the left versus the far left, or is that just a sensible guy versus the far left? >> you know, i think larry summers is sensible, and he is speaking the truth. what we've seven seen already is the from the biden administration you remember when they said inflation is going to be temporary. we have seen that it is not temporary. it's gone up every month of the biden presidency. and here we are heading into the holiday season when we're facing not just historic inflation, but now a supply chain crisis. this is on top of a labor shortage. so these are economic crises created by joe biden and house democrats and, frankly, unified democrat far-left government spending that we've seen from the beginning of this year. so janet yellen is dead wrong

with. the last thing you want to do when we're facing inflation ask every american family feels it is to, essentially, spend trillions is and trillions of dollars, again, that we don't have that our next generations are going to have to pay the bill for. larry: you know it's the also interesting to me, elise, in this bill or this framework or whatever it is the you've got spending on programs for, let's say, one, two or three years. but you have permanent ten the-year tax hikes -- ten-year tax hikes, okay? so temporary spending but permanent tax hikes. now, i say that kind of lets the cat out of the bag, right? because, in fact, we're going to have permanent spending hikes and tax hikes, but they're not even going to equal each other, are they? >> that's exactly right, larry. that's why i said they're cooking the books. they're trying to make it seem that this bill is less costly. but you're right, every intention is to raise a taxes,

and my home state is new york. new yorkers will face tax rates of 60% which would only exacerbate people moving from new york state to florida. but the intention of these government programs is not to have it from the dem the accurates' perspective for a year or two. they want this government expansion forever. and as we know in washington, once there is a new government program, it is very difficult to unwind it. it's an uphill battle. it's a battle that conservatives will fight, but it's a battle that becomes very, very difficult. so they are trying to cook these numbers. this bill costs trillions and trillions of dollars, much more than the number the democrats are putting out. larry: yeah. you know it really accords with newt gingrich's line or argument that this is big government socialism. that's really what it is. and it's paying people not to work, and it's favoring non-work over work. and it's bad on all counts. so, elise, let me ask you in the

remaining moments here, what's going to happen? they didn't even -- biden makes this plea, oh, please help me, please help me. and he quos to gas -- he goes to glasgow. he's not going to have anything to show at the climate summit, which is good because you've got all these crazy people out there. what happens next? i mean, will the house vote on something anytime in the foreseeable future? >> well, we've seen twice now president biden came to the hill the first time, and the president when they come to the hill are supposed to close the deal. it was a total embarrassment not once, but twice when the president was supposed to close the deal. >> his conversation with house democrats and senate democrats coming to a deal. he totally failed. obviously now he's in europe. we will see. the real challenge here, and this is being written with behind closed doors. and when you're a house democrat and something is written behind closed doors, you're going to be held accountable to your voters. you will be held accountable for not reading the bill.

they want to vote on something that hasn't even been written, let alone they haven't read it when it finally is published. they will face that next november. it's very much out of touch with the american people. larry: yeah, you know, i've been to those come to jesus, fire drill moments up on the hill. and as you know, elise, the trick is you go up there, when the boss goes up there, it's supposed to be fixed and arranged. and that didn't happen. [laughter] you know, the policies are bad enough, but the political management is even worse, the such a thing is possible. anyway, elise stefanik, got your boxing gloves on today. can't thank you enough. take care. coming up next on "kudlow," democrats want to punish hard working americans and reward those who come here illegally. this is a sad tale, but it's true. stephen miller's going to weigh in on shocking reports that the white house wants to pay millions of dollars to illegal immigrants. this isn't good either.

i'm kudlow, we'll be right back. ♪ ♪ ♪♪ >> my name is brian kilmeade, been with the channel since 1996. i love my job at fox, but i didn't realize the impact fox is having on the rest of the country. i got a call that sylvester stallone is doing a boxing exhibition. growing up i loved the rocky movies, would loved to have met him, and i got there, and it was the chaos. they quickly let us know, press will not speak to stallone one-on-one. all of a sudden he gets in the ring, benz over, he looks -- bends over, he looks at the press, he sees me and and says, hey, brian, come on over here. and i thought, what is he talking about? and he just says, what brings you here? you. he goes, oh, great. i'm just going to be boxing a

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taxpayer money per family, which could be hrls 450,000 -- more or less 450,000 per child, for the separation at the border for illegal crossings. joining me now to weigh in on this iss founder of america firt legal, former senior white house adviser, my great friend stephen miller. stephen, there's a lot of insanity in all these budget bills. but this one has got to be the here to the top of the list. now, there's welfare money for illegals, but this is a separate category, as i understand it. can you walk us through this? >> yeah. so as you mentioned in the build back better plan, so-called, they have tax creditsle for illegal immigrants. so if you're a low income illegale immigrant that, say, is making $25,000 a year and you have four young children, you would get about $14,400 for free annually from the federal government. now, separate and apart there

that is the department of justice preparing to offer up to a million dollarser family, as you mentioned, for illegal immigrants whose adult household members werebe prosecuted and incarcerated and, therefore, separated as a result of that incarceration. and that is happening again through the department of justice that is now the source, obviously, of such outrage all across the country. larry: so the aclu is backing this. i mean, the policy here -- first of all, you're not supposed to cross the border. i mean, that's point number one. but point number two, didn't the obama administration have a similar policy as the trump administration with respect to separating the families? >> every, every administration that's ever been in the office, that has ever been responsible for administering immigration laws has had from time to time to prosecuting illegal immigrants, and as a result of that criminal prosecution,

obviously minors are not incarcerated with the adults. under this theory when vice president harris was governor -- sorry, was attorney general of california, she prosecuted many low-level drug offenses that resulted in the separation of tens of thousands of u.s. citizen families all across the state of california. is a single one of those families going to get a million dollar payout? and let me flip this around for a second. you remember well president trump gave a platform to american citizens and legal immigrants whose loveded ones we hurdeded by illegal immigrants, gang members, ms-13 killers and so forth including in the long island area.a. have they ever been offered one red cent by their government? have they ever been offered one penny for the permanent separation their peeks ex-- they experienced because it's administrations like president obama's and not president biden's are refusing to enforce the law?

larry: this is -- i'm just going to simplify it, it's well tear money for illegals. >> it's subsidizing law breaking. larry: this is reparations money -- i was just going to go there. this is reparations money for unlawful actions. >> the united states is, the united states is the victim here. in other words, the country h is the victim of widespread law breaking and an endemic scale. and you now see today over 7,000 illegal immigrants a day crossing the border illegally that we know h of. the victim here is the united states. we have to spend, as owe know welsh, larry, hundreds of billions of dollars for education and health care ask emergency room services and public housing and so many more expenses. the people that need reparations are the u.s. taxpayers. larry: that's right. not to speak of the job losses along and near the border as you'rere flooding it in with chp labor. there are economic consequences as well as criminal --

>> working families end up on the unemployment lines. i'll give you a great example. you have two construction firms. one follows the law, one doesn't. one hires illegal labor. guess what happens to the one law?wing the they go under because they followed all the rules that we passed. every worker now, now they're on unemployment, now they can'tls y their bills, their rent, can't care for their kids. again, where's their reparations? their only crime was being born here. larry: yeah. now, stephen, while i've got you, i've got one more for you. i can see you're fired up, and that's great because this stuff is insanity. the supreme court has essentially reinstated, as i understand it, the remain in mexico policy put into place by president trump. which on day one, i think, president biden shot down. but now the supremes have come back, and they said it's okay. but mr. mayorkas, secretary mayorkas at the department of

homeland security says, no, we're not going to use it anyway. and i guess they're going to try to appeal it somehow. but then, stephen, he says -- and this is the part that i really was interested in -- the administration is pursuing other ways to reduce immigration to the r u.s./mexican border. including root causes that lead to fleeing central america. and coming to the united states to reform asylum policies. what are these root causes, do you think, that he's talking about, and how exactly are they going to address them? >> it's a great question. let me begin by stating that i believe the biden administration should be held in contempt of court for failing to, thousand it's the been several months since they lost this court case, and they have not reimplemented or reinstated the remain in mexico program as required by law, and that's ordered to by the courts. let me just state that at the

beginning. they should be held in contempt of court. secondly, to your question, this root causes thing is all nonsense, they don't believe it. we get illegal immigration, larry, from 160 countries around the world. central america comprises just 5 of the 160 countries, the northern triangle just 3 of those 160 countries around the world. people come to the united states for all kinds of reasons illegally. some come because they have jobs, some come for welfare, for health care. at the end of the day, this administration's plan is to make every single country in the world economically equivalent to the united states of america. you're not going to do anything with the strategy to reduce illegal immigration in our lifetimes or the next hundred lifetimes. larry: not even a supply sider like me believes that's possible. [laughter] but, you know, again, if you're going to provide reparations and

welfare and free health care to people entering the country illegally, isn't that an open door? >> that's -- you just summarized the build back better plan. larry, you talk about every facet of this bill on your show, andl you're a national hero for doingyo so. you talked about how the business taxo is going to push all of our jobs to china. you talk about how the energy tax is going to make it impossible to heatt your home in the winter. you talk about how the climate activism is going to economically cripple our country. but the bill also does what you just said, welfare the, health care, public benefits, amnesty, tax credits for illegal immigrants. the government is literally paying people to break our laws. it's just that simple. that's the build back better plan. larry: yeah. i mean, i think asylum reform, yeah, that should be in an immigration reform package, but we need an overall package which, stephen, as you know better than anyone, includes law enforcement, walls headache good

neighbors, you know, remain -- make good neighbors, remain in mexico. the tragedy here, this has national program. people are furious all over the country. besides the illegals coming across the border on the border, you've got drug trafficking and kisex trafficking and recidivism and criminals and so forth and sanctuary cities. i mean, this has become a major national problem. and best i can tell, steve, the bidens are doing nothing. they don't have an action plan at all. >>ti no, in fact every week bris a new announcement, we talked about one today. every week brings a new announcement to make it easier to come to this country. it just j keeps going and going and going. the realityhe is they eliminated rump's historic and successful border -- president trump's

border security measures on purpose for the goal of making it easier to come to this country illegally, and as the result we now have the worst border crisis not just in the history of our country, i would suggest in the list of the world no one's seen anything like what we're seeing today. so at thel end of the day the real question is, larry, are there no moderate democrats left in the entire country? if where's jon tester? where's mark kelly? where are any of these people? if not one single solitary word about the worst border disaster anyone has ever seen. and they've about to vote for a bill to make it immeasurably worse. ylarry: yeah. that kelly, senate kelly from arizona, which is a swing state, he's kind of gotten off scot-free on taxes -- >> scot-free. larry: -- on immigration. you're exactly right. i mean, we're for legal immigration. a good thing. >> not mark kelly. all he wants, apparently, is

illegal immigration, and he represents a border state. and you never even hear his name said. he shares a state with the senator we talk about all the time. i've never even heard a word or from him, larry. larry: steve miller, good stuff. can't thank you enough, as always. coming up, the greenies go to glasgow, we're going to tell you why it's not a good idea. i'm kudlow, we'll be right back. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow with it. principal. for all it's worth.

♪ larry: one of our heroes, bjorn lomborg, writes in the "wall street journal," and i quote: climate activists blow smoke on wildfire fears, the amount of land burned has declined steadily since 19003 even with rising temperatures. joining us now the aforementioned hero, bjorn lomborg, president of the copenhagen consensus. hello, bijohn. so you're -- bjorn, so you're debunking another one of these

incredible charges. wildfire fires are not wrecking the planet, the earth or the u.s. >> well, they're still a problem, but they're a smaller problem, and you need to though this. so we have -- know this. so we have good data from back in 1900, and it's dropped from burning about 4.2% of the planet down to 2.5. it's almost a halving. andre what we're likely to see n the future is even more regression. we're going to see less. why? because people actually don't want stuff to burn. so they induce fire suppression, they make forest management, theyt do smart strategies so we don't see as much fire. larry: so this, let me just you are sue this point. you said why, because people are doing responsible things. they understand the risk and the dangers, is that right? >> yes. larry: and so this goes along with your view which i completely support. if the we leave a lot of this climate management if issues to

private sector, to technological advances, to people of good copscience -- conscience who know the difference between right and wrong, we'd be much better off than if we stop quarantining or ending all fossil fuels which will probably wreck the economy and the world both. >> well, we're certainly not going to succeed in actually make most nations not use fossil fuels. global warming is still a real problem, but you're absolutely right. when we've been told, oh, it's going to be the end of the world,he it's typically went you don't factor into the fact that people will adapt and people will make smart choices. so we need that information to not scare our kids but simply point out, yes, there's a problem, but it's not the end of the world. larry: bjorn, are you going to glasgow? >> no. i've tried to go to some of the others and, honestly, they don't want mee there. but, you know, with zoom you can do it just as well from your

living room. larry: do you thinkn? anything serious isin going to happen? putin's not going, xi's not going, only biden's going. how do you read that? >> well, we already know because we've done 25 meetings, this is 26. we've done this for 30 years. and the u.n. actually did a study on the last decade of climate policy, and you know what they found? they said it was a lost decade. they said we can't tell the difference from all the stuff that people promised, including paris, from a scenario where we haven't bothered with climate since 2005. so the fundamental point is there's a lot of talk, and there's going to be a lot. maria: talk in glasgow. but, no, this is not the way you cut carbon emissions. you cut through innovation, not by big tax. larry: bjorn lomborg, the best of the best. we'll see you in the middle of glasgow. you can report to us. coming up on "kudlow," a brand new fox news poll shows

glenn youngkin running away with the virginia election, and, folks, that is a very big deal. we're going to talk about it with guyit benson right after te break. i'm kudlow. ♪♪ as a dj, i know all about customization. that's why i love liberty mutual. they customize my car insurance, so i only pay for what i need. how about a throwback? you got it. ♪ liberty, liberty - liberty, liberty ♪ uh, i'll settle for something i can dance to. ♪ liberty, liberty, liberty, liberty ♪ ♪ ♪ only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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larry: the rac muck larry: the race for virginia governor in its final days ask a new fox news poll shows republican candidate glenn youngkin leading terry mcauliffe by an 8-point margin, 53-45, and this is likely voters. very important. joining us now, guy benson, host of the guy benson radio show, and roe ma drab by, former white house deputy strategic comms director. guy, i'm going to show you another one put up on the full screen. he's alsoul leading in educatio,

the chi, crime -- the economy, crime, and he's actually got a point, 1-point lead even in covid. but look at these margins. education, 52-44. economy, 53-42. crime, 53-41, etc. what do you make of this? this looks like the tide has turned. >> well, this is a bombshell of a poll. it detonated at 6 p.m. yesterday, and people were just sort of stunned because in our last fox news poll we saw mcauliffe ahead by 5 points, and now this is just a massive 13-point swing. and whenis you look at independents in this poll, youngkin is ahead by 22 points. there's a new washington post poll out today that has the race basically tide, but youngkin ahead by 18 points among independents. i'm from virginia, i happen to be in chicago right now. i'm a virginia voter. you can feel that this race is different this time. and i had youngkin on the radio show yesterday. e he sounded very confident.

i've heard things internally from his campaign that their numbers are looking good on a few different metrics x. then this fox news poll hit yesterday, and can i'm like, okay, that confidence -- i'm starting to understand, i'm starting to feelit it a little t more. but it all, of course, comes down to turnout on tuesday. the youngkin people are planning on a huge republican turnout on tuesday. it is possible but it is not a guarantee. larry: you know, roma, it's interesting to me looking atg this carefully -- it's obviously a big off-year race from virginia -- but, but, but on key issues they tried, you know, mcauliffe and biden and obama tried to make it a referendum on donald trump who's not on the ballot. but here's youngkin for lower taxes, for parental involvement if not control of the school i agenda, and, you know, tough on crime and a better economy. to me, those are great issues, and the suburban women are

coming back. they and others are coming back. >> you're right, larry, it's true. those issues are winning issues for the people of virginia. and it's a little bit laughable to watch joe biden go across and campaign for the democrat running forni the governor and y donald trump's name 24 times while he's on stage. we know that the democrats thought this was aem shoo-in, ty thought they wouldn't need to try because historically speaking for a presidential race virginia would go to the democrats. but this is not a presidential race. and i'm of the mind that virginia voters are smart. they're going to vote is on kitchen table issues, they're going to vote with their pocketbooks, they're going to vote based o off of the fact tht they already know what terry mcauliffe stands for if, right? he's vetoed school choice three times when he was governor last time around, and they don't want that. they've been very clear on that. we've seen it locally in

virginia and also nationally. this is not what parents want for their children in the country, and i think you'll see that. but it really comes down to the gop turning out the vote on tuesday. larry: guy benson, give you the lasts. word on this. it looks to me like there's a road map here for theerer palin -- the republican party with respect to the midterm elections. do you think? >> oh, yeah. the glenn youngkin wins on tuesday, i don't know, two other polls out today have him up 3, 4 points. if he wins on tuesday, a lot of arrepublicans are going to be study thing the youngkin campaign closely, looking ahead to next fall, as they should. because he has run thus far an extremely impressive, disciplined campaign. it is working. i meaning he's at least at worst tied this ad, state that joe bin won by 10 points. that's impressive unto itself. if he wins and pulls it off, i think people ought to sit up and pay close attention. larry: it's also going to impact

these moderate impacts. anyway, great to see you, folks. coming up here next on "kudlow," tax expert grover norquist. a lot of terrible, late-entry taxes in biden's so-called framework. going to do real. damage to the economy. so as usual, save america, kill the bill. grover norquist up next. ♪ ♪ it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network

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l ♪ larry: well, some things never change. joe biden's supposedly new budget framework still filled with new taxes. joining us to talk, grover norquist, head of americans for tax reform. grover, you know, it's funny, there's somee very nasty things that have crept back into this bill, as i'm sure you are aware. and let me just get your take on the 15% minimum tax for both domestic income and foreign-related income. what's that going to do? >> well, it'll raise taxes by about $600, 700 billion which is twice the size of the tax cuts for companies that trump put in.

so we'rere not just talking abot erasing many of the gains that american investors, people with iras and 401(k)s and people who got jobs during the boom, we're talking about taking us back to be worse off than before those tax cuts took effect. larry: isn't this goingng to, i mean, they're going to do it on so-called book profits or gap profits, not really irs taxable profits. grover, doesn't this knock out expanse if-- expensing of new plant equipment and technology which is so vital? >> it's not only vital, it is the one pro-growth tax cut from democrat -- that democrats from john f. ken key to obama supported -- kennedy because it was one of the things that gave you some growth. he allowed expensing which means a company its a million dollars into new plant equipment, they don't get taxed because it's not income. they don't have it, they spent

it, and it encourages people -- it doesn't penalize people -- for investing and creating new jobs. that's why amazon gets yelled at. they've been growing ask investing so much, not taking money out of the company, thousand they're going to get punished -- now they're going to get punished and taxed for creating jobs and better pay. larry: and finally, look, courtesy of senator sinema they're not going to raise the income tax rate to 39.6 from 37, i guess. but now they've put in a 5% marginal rate above 10 million, if i get this right, and 8% above 25 million. that applies to llcs and s corps and wholly-owned proprietorships. that's a very steep marginal rate. it's close to 50%, and in some of the big blue states it's going to be 60%. >> the way i count it is about 57% at the top and 64% if you live in california.

it is more than half of the money that you earn being taken away. sinema needs to sit down with the people. i don't know whether they fielded her or lied to her, but she -- fooled her or lied to her, but she said there'd be no higher tax rates. this is that. sinema needs to tell the democrats, you guys, i told you not to doou this, you can't do . larry: i mean, this would be the atbiggest tax rate hike on the personal income tax, i don't know, since john f. kennedy. i mean, it's crazy. >> the biggest hike since hoover. larry: ah, even since hoover. this is more class warfare. care about growth. and iut guess, grover, they dont understand you can't have a good paying job without a healthy business which requires investment capital, which requires profits. they're just going to kill profits. and don't forget, overseas income's going to be taxed more also. >> nobody writes a politician a

thank you note or a campaign check because of the job they got in the private sector. they will do it for welfare. they will do it for corporate subsidies, the $500 billion worth of corporate welfare that's in here for so-called green stuff. there are a lot of people going to be the writing campaign checks as thank you notes to these corrupt handouts that they'vehe got, and that's what they're focused on. larry: all right. grover norquist, thank you. i agree, buddy. >> kill the bill. larry: yep. save america, kill the bill. we've got a lot more work to do. thank you, grover. i'll be back with my if last word, folks. please stay right here. ♪♪

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humana, a more human way to healthcare. larry: government control of education. larry: government control of education, inflationary governments tax hikes. in the country does not want the stuff up. democrats do not. i am sorry. ♪ ♪ >> from the fox studios in new york city, this is maria bartiromo wall street. maria: had a happy weekend everyone welcome to the program that analyzes the week that wasn't helps position you for the week ahead. i am maria bartiromo. president biden europe this weekend is as crucial big-ticket agenda items hang in the balance here at home. progressives are digging in their heels against the framework of a slimmed down spending package grade one senior official admitting the biden presidency is on the