>> yeah, i think in semiconductors we have a global industry that is extremely profitable, but one reasonst is profitable, liz, to you are your point is that there are -- to your point is there are these kind of pools of excellence, right? you have certain group of companies who are exceptionallingly good at designing whether it's nvidia, broadcom or others, there's another group of companies exceptionally good at manufacturing, some which is exceptionally good at packaging and memory and so forth. so i think alignment between all of them is extremely important. if any part of this chain breaks, it's tough for the entire industry. i would say more than that, what we also keep an eye on is what is the capital spending intentions for their customers. liz: vivek arya, my thanks to you. dow looks to close up 461 points. we will be right back here tomorrow. ♪ ♪ larry: hello, folks. welcome to "kudlow," i'm larry

kudlow. there's a blue collar boom out there. that's what investors are telling us. stocks up over 500 points and bitcoin racing to $100,000. oh, my gosh. we have john carney and taylor riggs on all of that in just a moment. miss if senator and concern plus senator and bitcoin minor ted cruz from the great state of texas waiting in the wings. first up, we have our bitcoin leader, edward lawrence, live at the white house are -- with some big news on the trump transition. edward, what's cooking? >> reporter:l disclosure, i have no bitcoin, larry. [laughter] so i can tell you, you know, after spending two two days on capitol hill meeting with senators, former representative matt bathes has now withdrawn his application -- matt gaetz -- for attorney general. president trump wants him to run doj, but he's taken that off. the president-elect saying on truth social he said he appreciated the efforts by matt gaetz and p ultimately, gaetz

did not want to be a distraction for the administration. we're seeing a lot of reaction from senators. listen. >> this is very respectful, for him to make that decision, i think. thinking with all of the, you know, we're all thinking about the administration coming in. we want to be positive and supportive any way we can the make sure they're successful. i think every american should want that, and you don't want to start out with a cloud where you have to defend something all the time. >> reporter: so now on the hunt for the new treasury secretary, president-elect trump met with markrowan and former federal reserve board member kevin warsh yesterday. there are two things going on with the choice here. president-elect trump wants someone who's a disrupter, ask if that will create waves in the market. so he needs someone who also will reassure the markets that everything is okay. former treasury secretary steve mnuchin says treasury handles more than just domestic problems. >> i think a big part of the

treasury secretary's job has to be sanctions, so i think that's something that needs to get up and running very quickly. the iran sanctions need to be immediately put back in place, and we need to make clear to china and others not to buy iran oil. and i think there's a lot, there's just a lot to do on day one. >> reporter: so that may if favor senator bill hagerty. fox sources are told that the decision on this is imminent. we'll have to to see exactly how the president goes, which way, which direction for the treasury secretary. larry? larry: edward, i'm shocked that you don't own any bitcoin, really -- [laughter] >> reporter: i wish i did. 97,000? larry: and rising. thank you very much, edward lawrence, we appreciate it. now, folks, there's a blue collar boom out there, and that's what investors are telling us, and that's the subject of the riff. ♪ so the trump trade on wall street is predicting a blue collar boom for the economy. since election night the dow jones is up over 2,000 points

including over $5000 earlier -- 500 earlier today. the 1500-point rise on day after the election was the single largest daily gain in history, and the rally is not just about nvidia and the big tech stocks, it's spread to banks and industrials like caterpillar and and small caps in the russell 2000. let's not forget that the trump trade includes spectacular aforementioned rally in bitcoin which, hold on, has gone up 43% or $30,000 since the election 15 few days ago -- 15 days ago. mr. trump has styled himself a cryptocurrency aficionado. he's even talking about a crypto czar in the white house and widespread use of cryptocurrency will provide competition for the excess money created by the federal reserve. very much like noblist friedrich high yak's ideas of -- friedrich hayek's idea of competing currencies. the fed hates it, so it must be

a good idea. the trump trade is also a good idea that he will keep his promises to produce vastly more energy, especially liquid gold, trump tax cuts 32.0, massive concern 2.0, budget cuts from elon and and vivek and a sound king dollar. and, yes, he will protect american business from unfair trading practices using tariffs as a crucial negotiating tool. it could well be a new golden era for the economy and the nation as a whole. hopefully, the tax cut package will be the very first order of business on the legislative calendar. in order to cement his expanding coalition of working folks of all races and ethnicities, many trump must quickly restore take-home pay. real median wages adjusted for inflation fell if during the biden years, and along with spiking prices, sunk kamala harris in the election. hopefully, lower energy prices

will keep inflation down while tax and regulatory reductions will boost businesses and profits and jobs and blue collar pay. putting tax cuts first is going to be very important. and then side by side with tax cuts is the regulatory revolution led by elon musk and vivek ramaswamy. they're going to be using recent supreme court decisions and working with the white house office of management and budget. the doge commission will chop down federal regulation, chop down the size of the federal bureaucracy, chop down the bloated federal budget and chop down a lot of money that's been authorized but never spent. and it turns out senator rand paul told us last night you only need 51 votes in the senate to rescind certain types of spending and any number of regulations. what fun. the trump trade and the blue collar boom. me? if i call all that the -- i call

all that pure gold, and that's the riff. all right. joining us now we well taylor riggs, can cohost of "the big money show," and john carney, economic and finance editor at breitbart news, co-author of the breitbart busy jest. thank you, kids, appreciate it -- business digest. taylor are, let's the do stocks first. >> i know. when you say a rally, i don't know which rally you're talking about, because we've been doing bitcoin all day. let's talk about the broader stock market. some of this could be nvidia, revenue goes up 94%, profit doubled, it goes up 100%. this is broader based than you just said. it's that trump rally. this is so similar to 2016, small caps, right? the domestically-focused companies that don't sell goods oversees -- overseas. that's why the small caps, as you mentioned in the riff, has also done well. i think this is more than a big tech story, an nvidia, a.i.

story. this is sort of this broader relief rally that we have common sense back in the white house, we have, maybe, lower interest rates again fueling this, and we'll have to see how companies can react and boost up profits and return some of those profits to to employees and shareholders. larry: yes, they will. it happened once, it can happen again. you can have a good company and good pay if they're making money with profits. john carney, let's dwell a moment on the bitcoin storying all right? so mr. trump made it very clear during the campaign that he was the cryptocurrency guy, all right? if asly gasparino reports -- as charlie gasparino reported and perhaps others there may be a crypto czar in the white house. maybe, maybe not, but a possibility. everybody knows he favors it. that's one important point. and so bitcoin keeps rising. now, there may be other reasons, and to i'm not sure i really understand all bitcoin and clip to currency, but maybe you'll both give me some wisdom. >> sure. the biden administration was

really antagonistic to clip to currencies and bitcoin in particular. they were going after anybody who had a business plan centered around them, and this surprised people when they were running back in 2020, they did not run on we're going to crack down on cryptocurrency, and yet that's the way they behaved. so taking them out, i think, has been a big relief. people are no longer looking at the cd that you won't be able the trade -- the idea that you won't be able to trade cryptocurrency without getting the sec -- larry: just the pause one moment. of gary gensler at the sec was very much opposed to cryptocurrencies. >> that's absolutely right. and that was really holding back cryptocurrencies. one of the things we're seeing in bitcoin, in stocks is really a surprise rally. people -- remember, we went through this once before on the show. the cfos of the world, a lot of the business leaders -- the people thought trump would win, but a lot of the business leaders did not. so what we're seeing is a rally as everybody suddenly realizes

an upside that they didn't see coming. >> by the way, gary gensler announced today he is going to step down effective january 20, so he's sort of gotten the message -- larry: when did he announce that? >> today, during our show. larry: whoa, how about that? >> again, you sort of have this feeling that people in crypto want a new regulatory regime, overall lower regulation that a maybe allows people like brian armstrong of coinbase to meet with the president. larry: so just take a deep breath for one moment later in the show we're going to run a wonderful interview i had with senator ted cruz who's a great friend of ours. we taped it about an hour or so ago. and he's a big clip to currency advocate. -- cryptocurrency advocate. and he mentioned that he was a crypto miner or he owned crypto mines. and i said, gee, that's wonderful. but when i said that; i realize i don't know what he's talking about. >> i'm going to the steal your line, it's a bunch of servers with big air-conditioning

because the mining is all electronic. larry: okay. >> what you do is you set up a giant serving farm, and you have to have a lot of air-conditioning because it gets very hot. what that means is you need a lot of electricity. larry: right. >> the a. i. revolution, the clip to currency all require a lot of electricity. we need to be energy abundant and dominant. that's another reason will be, i think, frankly, that we're seeing these rallies. because people say the war on fossil fuels that was waged by the biden-harris administration is over, and the american people want it, and we get to have energy. larry: so you're -- they're self-reinforcing. so on the one hand, mr. trump does not wish to overregulate cryptocurrencies, okay? >> right. larry: on the other hand to, he does wish to produce more energy, electricity especially, to come from natural gas at lower costs. so that would be good for the cryptocurrency miners. >> yes. larry: that would also be good

for the rest of the country. that would also be good for the blue collar boom, and that would also be good for better take-home pay after inflation. >> yes. let's talk about the real wages, right? it's been such a story for fox business as a network, the affordability crisis. you talk about that all the time, larry. larry: i coined the phrase a while back. >> you also coined my king dollar phrase -- [laughter] so i'm coining a lot of things from you. when you think about the way it can impact people at home, lower energy, as you mentioned, goes into everything. that impacts how much i take home after inflation, that means i know you want to argue prices need to to go back down to where they were, but as long as my pay outpaces inflation, i just need to be taking home more than inflation. larry: okay, that's a very important point. and, john, i think people at this point believe trump. you know, trump in his victory speech and said it on the campaign trail, promises made, promises kept. it was one of his key themes in

the last few weeks of the campaign along with success will end the divisions and unite the country. but i think at the moment certainly the stock market is signaling, flagging to everybody they believe they're going -- there are going to be tax cuts, they believe there's going to be deregulation, they believe that prices can come down, and they believe that we'll get more electricity and power at lower cost and so forth. and i guess they believe him, certainly, on the cryptocurrency front. so i'm just saying i know the market as a sense validating so far looking at the transition and there's some big jobs that have yet to come, but i think we'll hear about treasury and nec and omb in either hours or days, something like that. but the market buys it. that's what i'm getting at. it seems to it's buying it. >> that's right. if you look at surveys of public opinion, you'll find that when people are asked the question whether -- will you be better off a year from now, that number

has gone way up since the election. particularly among young people and particularly among people who have lower incomes. they thought they were in for a raw deal. they know how bad affordability really crunched them. they can't buy houses, they can't afford cars, they can't aboard to just turn on the lights in their own houses and apartments. that has shifted dramatically in all of the polls. it shows 18 to 29-year-olds, now they have net favorability ratings for both trump and advance vance, and when you ask them will you be better off a year from now, almost half of them say, yea. around a thursday of them say, well -- a third of them say, well, i think i'll be around the same. larry: that's so interesting, taylor. i know you follow this very carefully. the vast majority of economists are felling us -- telling us how bad the trump policies are and there's going to be sky-high inflation because of his tariffs and, oh, my you know, he might

defend the -- oh, my gosh, he might defend the u.s. against unfair trading practices. so now it's the economists against the voters -- >> people. larry: as john just said, the people, and economists against the marketplace. >> yes. larry: so why don't economists wise up? >> could the models be wrong, right in garbage in, garbage out, it's my new version -- louisiana march right. >> but the problem is, and i think you brought it up, you're seeing it with real people on the ground. we had the business special yesterday, and we interviewed restaurant owners. the day after the election sales doubled. larry: really? >> the policy has not changed. the policy will not change until january 20 the, but that especially of relief. we talk about -- sense of relief. we talk about consumer confidence all the time, it was so high during donald trump. the big gains right now are coming from future expectations, not present condition. that is the hope on the horizon that we hope donald trump can wring. -- can bring. larry: john, economists are just

totally out to lunch. you know what? here's another point. economists don't like cryptocurrencies. >> right. larry: they're a very dour lot when it comes to that. friedrich hayek wrote, the great austrian economist who taught at the university of chicago for many years, won a nobel prize in 1976 if i'm not mistaken, he argued for competing current says. to keep the federal reserve and other central banks honest. the clip to to revolution could be -- cryptorevolution could be a competing currency. and that would be a good thing, would it not? >> it would definitely be a good thing. you do want to have competing currencies. you don't want your central banks becoming too complacent, which they did. that's one of the reasons why we had this inflationary explosion. if you have a market check on the excesses of central banking which a competing currency and a cryptocurrency could provide to, you'll be much, much better off. the economists have been out to

lunch. 9 i think they're going to be humiliateed. they're all still -- i mean, they already have been. they're saying there's going to be massive inflation. just yesterday the walmart had their earning call, and there were headlines saying walmart say says they're going to raise prices. that's wrong. walmart didn't become walmart by being a price taker. they are going to go -- if a tariff is aeffecting them, they're going to go to the manufacturers and say get yourself out of china. we want to buy your stuff cheaper. we are going to see the currency shift. china's currency is going to go down further, the dollar will probably strengthen. there will be no higher prices because of -- larry: you know that the economist fraternity, community is kind of like that woman who did the poll for iowa -- >> iowa? larry: right. i don't remember her name. maybe it's best that no one remembers her name. she was, she said +3 for kamala -- yeah. larry: -- and trump carried the

state by 13, i think? and then she promptly resigned. so maybe all the economists need to resign. i'm being a little cruel. >> you are. i love sort of the institution of economics, because that's where i got my start. but i do agree that that a business model no longer works when you're fundamentally out of touch with how people feel and how we deal on the ground. and guess what? we tried tariffs in 2016, and they worked. they worked so well that biden didn't reverse many of the tariffs. and guess what? trump did it with, what, 1.6% inflation on average, virtually nothing. if we can do it once, maybe he can do it again. larry: thank you very much. taylor riggs -- >> don't hate all the economists. larry: no, no -- >> just some of them. larry: it's not personal. [laughter] it's institutional. catch taylor on "the big money show" along with her cohosts weekdays 1 p.m. eastern right here on fabulous fox business. coming up, joe biden's

i.c.e. is busy creating new phone apps just to help the illegals avoid the i.c.e. people, all right? put 'em all on i.c.e. boy, bidens will never give up. the election was about this deportation, and the bidens will never give up. talk about it with griff jenkins right here on set when "kudlow" returns. remember, you can catch "kudlow" monday through friday, 4 p.m. right here on fabulous fox business, and if for some reason you can't get us at four, just text your favorite 9-year-old, and she will show you how to dvr the show. i'll be right back. bitcoin and whatever. ♪ chase really knows how to put the hart in your local community. see what i did there? hey, jackie! (♪) evan, my guy! you're helping them with savings, right? (♪) i wish i had someone like evan when i started. somebody just got their first debit card!

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you can bet on he's going to follow through. joining us now, griff jenkins, fox news national correspondent. griff, thank you ever so much for coming on, we appreciate it. you said to me earlier, if i get this right,. 1.4 million illegals were deemed for deportation by a young -- by a judge, an immigration judge, but they have not yet been deported. we know who they are? >> yeah. larry: i think we know where they are, but we know who they are. anyway, it's not happening. so so mr. trump is getting ready for it to happen. i don't know why it hasn't happened in the past. >> i talk to tom homan almost every day and have for the last three years. and you can bet when tom homan says if these sanctuary cities aren't going to help, get the hell out of the way, he's coming, the 1.4 million illegal migrants, their cases have been heard. their claims for asylum,

whatever the point of their case was, they've been deemed for, marked for removal. ready for deportation, so why is the administration spending the remaining two months not aggressively going after it? the that's the will of the people. america feels the security threat because of case cases like laken riley, the trial that just ended and jocelyn none garre rhode island -- jocelyn nungaray down in houston. among that pool you've got 13,000 of these criminal aliens in i.c.e. custody, currently sitting in an i.c.e. detainment facility waiting to to go back to their home countries assuming we can send them back. why haven't they gotten on planes yesterday? two hours ago? larry: right. >> it's really fascinating because the headline today is that i.c.e. has a new app -- larry: oh, yes. >> -- that allows migrants to try and go on this app in this

portal. i confirmed the story today, a larry, and the i.c.e. sources told me, look, we were doing for the past couple of months because the backlog is 5-10 years for these migrants to get to their personal checking because there's hundreds of thousands of backlogged appointments, and we simply were looking for efficient ways to try and keep track of these people, get 'em to check in with us online so we at least is have some idea when they're marked for removal we can get rid of them. i.c.e. sources told me we wanted to tell the press and be public, dhs shot us down. larry: of course. because they don't want it to really happen. you know, these liberal politicians, they're like the old segregationist governors standing in the schoolhouse door. they won't let 'em through. they're standing up to trump, and they won't let illegals be deported. the country spoke with a landslide election, and one of the absolute key issues was

closing the border and deporting criminals. and trump has said and homan has said they will the do this in a proper, humanitarian way. but this business about 1.4 million should have been deported, people mt. communities want to solve crime -- in the communities want to solve time concern crime. the cops want to get them out of there. these politicians are going to get their heads handed to them. you can't override federal law. you cannot override federal law, and there are plenty of statutes in the federal law that gives ice-t legal right to go, identify, find the criminals, the illegals, and send them back. it's all there. >> look, there are more jose ibarra as -- larry: yes. >> -- the migrant who killed laken riley, there are more of hem out there, and they may be among the 1.4 million that needs to get removed. and we have an absolute catastrophic law enforcement showdown coming because denver's mayor, mike johnson, now saying he may use denver's police to

stop i.c.e. from from coming in -- larry: except denver police probably won't do it. he's not talking for the police, he's just talking for the 16 left-wing voters he's got left. you know, the mayors of san francisco and oakland, you can't get any wokier cities than that, lost in the last election. did you know that? those two, oakland and san francisco lost. >> because people don't feel secure because of what they see and the whole cliche that every town is a border town now, well, that's right, because what came across that border is now 2,000 miles away in your town. and it's fascinating too if you look at we just heard or massachusetts governor maura healey say that she will fight against mass deportation and protect every citizen. well, they're not citizens. they're illegal aliens, immigrants who are here, and many of them need to be deported. just this week three child rapists apprehended by i.c.e. in massachusetts, and yet the

governor says they're going to to try and stop i.c.e. from going in there and getting them? it's unbelievable. a last point i'll leave you with, and that is i.c.e. deals with the interior. so think of i.c.e. as everything already happening in the country that already got across. border patrol tries to stop 'em on the line before they get across. we learned from the chief today of border patrol, jason owens, that in the last 51 days they stopped 20 convicted rapists coming into, sex offenders coming into the country. what about the ones we don't know? what about the ones that are already here? larry: yeah. i think things are going to change, and i think they're going to change very rapidly. griff jenkins, fabulous stuff finish. >> we'll be right there with our cameras rolling. larry: thanks so much, appreciate it. all right, folks, coming up the great senator ted cruz from the great state of texas. i spoke the him earlier about bitcoin, deportations, including the trump blue collar boom.

stick around with "kudlow." stick around with "kudlow." ted cruz up next. ♪ ♪ also from advil, advil targeted relief, the only topical with 4 powerful pain fighting ingredients that start working on contact and lasts up to 8 hours. you founded your kayak company because you love the ocean. not spreadsheets... you need to hire. i need indeed. indeed you do. our matching platform lets you spend less time searching and more time connecting with candidates. visit indeed.com/hire

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♪ larry: so i spoke to the great senator ted cruz of texas a little bit earlier today, about an hour or so ago. we talked about a whole bunch of issues including the blue collar boom and bitcoin. take a listen to what he had to say. so we welcome senator ted cruz of texas back to the show. senate cruzing thanks for doing this, we appreciate it. >> larry, always a good to be with you. thanks for having me. larry: so let's have some fun, sir, let's have some fun. the dow jones today is up almost 600 points as of this taping. it's up 2,000 points since the election. people are calling it the trump trade. now, even more fun i think for you, bitcoin is moving towards $100,000, okay in is so it's -- okay? so it's at 98,000 and change

today to. it's up 30% since the election. there's a crypto boom, there's the trump trade, there's the hope of a blue collar growth boom. what do you make of this, senator cruz? put your economic hat on, sir. >> well, it's a return to common sense, and i think it's the market betting on good policies that are going to be coming from a new administration and a republican congress. and if you look across the board for economic growth, the two biggest levers that government has for economic growth are tax reform and regulatory reform. we're going to see both. when it comes to tax reform if, god forbid, kamala harris had won, we would have seen a massive tax the yard lines on job creators -- increase on job creators, on the entire economy. instead we're going to see this republican congress working hand in hand with president trump, we're going to the extend the 2017 tax cuts. my hope is we're going to the make them bigger and bolder. that is great for economic growth. secondly, regulatory reform. we have an enormous burden on

our economy from government regulations that destroy jobs, and we are seeing now with leaders being appointed by the president, with the commitment to pull the job-killing regulations back, i think we're going to see small businesses take off. and in particular, we are going to see an american energy renaissance. we are going to return to to american energy dominance. the war on oil and gas that came from joe biden and the democrats, that ends on january 20th. and i think you're seeing the market react to that in a powerful way. larry: so as i recall, and i know i'm old and infirm, but as i recall you're a big crypto advocate -- >> yes. very much so. larry: i mean, this bitcoin thing is unbelievable. as i say, i mean, the number -- it's up $30,000, 30,000 since the election. 43%. what to do you make of that? where do you think this is coming from? >> well, listen, i am one of the

leading defenders of bitcoin and cryptocurrency in the united states senate. i myself am a bitcoin investor. not only that, i'm a bitcoin miner are. i own three minors that are hashing right now. [laughter] they're out in west texas, and it is an incredible thing. look, the single biggest threat to bitcoin and cryptocurrency generally is the federal government. and in particular, the federal government, radical leftists in government that hate bitcoin and hate a cryptocurrency. elizabeth warren hates bitcoin. and a point i make frequently is that elizabeth warren hates bitcoin for the same reason that communist china hates bit bitcoin, because they cannot control it because it's decentralized. that is the reason i love it. i want it out of government control. i don't want federal bureaucrats having control over it. and i think you're seeing people responding to what's going to be a favorable regulatory environment. i want texas to be the oasis for

bitcoin and crypto cryptocurrency generally, and we are seeing miners and innovators from all over the world coming to texas to invest and create new jobs when it comes to bitcoin and crypto. larry: well, i would think it's a lot better than having the federal reserve, you know, they talk about these central bank digital currencies. this is like hayekian currency competition, which i think is going to be a great thing. >> amen, hallelujah. i've introduced legislation the ban the fed or federal government from creating a central bank digital currency. i think it would be a disaster. and you're right that it is -- hayek, i'm sure, is smiling right now at the competition. and, look, bitcoin is often referred to as digital gold. one of the reasons people go the bitcoin and crypto is that they don't have faith in politicians who spend like drunken sailors, who debase the currency.

and if so it's an inflation hedge among other things. and i think you're seeing that's drawing a lot of people there. and it is -- i think the future is very, very bright. larry: can i just raise one point that's booring me? last couple of shows we've talked about it regarding the central bank, the federal reserve, there was a poll that was taken -- i'm sorry, not a poll. federal election commission. it's a left of center site that first put this out, as you probably know, but here's the thing. in the last two presidential cycles, 2020 and 2024, get this, 92% of the federal reserve board donations to the campaigns went to democrats. 92% -- >> wow. larry: -- of the federal reserve board stand donations went to democrat. this is new, senator. this was not true in the early part, in the early decades.

this was not true during the bush years. it wasn't even true during the obama years. it kind of started in 2016, and then it explodes in 2020, and it keeps on exploding in 2024. i mean, the fed says it's independent, but if 92% are giving to democrats, how independent is the fed? and might somebody want to look into that? >> yeah, look, that is certainly concerning. i hadn't seen that particular if report. but, you know, i will say, you know, there are certainly democrat governors and that's not surprising that they're sport supporting democrats. -- supporting democrats. but particularly when donald trump came in, i think there were a lot of establishment republicans who trump scared the hell out of. trump is a disruptor. you worked in the trump white house, but coming out of the world of wall street, that took real courage, larry, for you to do that. as you know, a lot of people trump scared the living daylights out of, and so i think that's one of the factors driving it. it will be interesting to see how much that changes during the

second term because i do think a lot of the things that seem revolution mare and even to some people scary in a first trump term, after four years with of biden and harris, people are ready to end the madness and get back to common sense. and if i'm hopeful, you know, when you combine it with where we started this discussion talking about efforts to rein in government regulations, to have more sensible taxes, i think people are going to see real economic benefits to job creation, real economic benefits the their family's bottom line, and that may change the overall assessment. we just saw an election on election day where donald trump won the popular vote by with millions of votes. of all seven battleground states, he won all seven decisively. we have a republican house, a republican senate, 53 are republican senators. my race, as you know, i was running for re-election in texas, i won by 9 points, by a million votes statewide. and one of the things i'm most

proud of, i won in texas the hispanic vote statewide by 6 points, and we saw south texas, the rio grande valley which has been a bright blue bastion for a hundred years flip red. that is an historic and generational change, and i think it gives president trump and the republicans in the senate and house a real mandate to deliver on our promises. larry: okay. by the way, congrats on that election. >> thank you. larry: two things quickly, senator -- >> yeah. larry: in view of this working class coalition, and i call it the potential blue collar boom, the things that you're talking about, the hispanic vote, the black vote, young people voting, middle income, blue collar, wouldn't it be wise to take up the tax cuts and the tax reform right away, first on the agenda? doesn't have to be the only thing, but you've got to slog through this. wouldn't it be wise to go tax cuts first? >> look, i think it is going to

be the central and biggest legislative priority next year. as you know, i am going to be the incoming chairman of the senate committee on commerce, science and transportation. commerce committee has jurisdiction over about 40% of the u.s. economy. if you care about jobs, there are very few positions in washington with a greater impact on job creation. i can tell you last week i already sat down with the new republican senate majority leader and with all of the incoming committee chairs, and our entire discussion was about moving forward quickly with the tax cut, using it to bring in regulatory reform at the same time, hiking big and bold the make a concern thinking big and bold the make a real difference. i think that is absolutely a priority, and i think we're going to hit the ground running. larry: that's great. last one. deportation of criminals, deportation of possible terrorists and illegals and so forth. you've got all these liberal sanctuary cities, mayors and governors and they're all

standing up and they're going to to fight rump and defend illegal immigrants -- fight trump. now, you tell me, you're a scholar, legal scholar, constitutional scholar. i'm not. i didn't go the law school. i'm not a lawyer. but i thought federal law beats local law, point number one. and point number two, there are any number of statutes that will allow i.c.e. to come in and identify these criminals and deport them. so is, i mean, this is getting to be an out of hand discussion, but it seems to me the law areing the federal law overrides the local law. >> look, that's unquestionably right under the supremacy clause of the constitution. federal law preempts state law. but more fundamentally, look, what's happened to the democrats in the past few years is they've gotten radical and extreme on the border. under joe biden and kamala harris, we saw an open border, 12 million if illegal immigrants invading this country, the worst illegal immigration in our nation's history. that is going to end, and it's going to to end on january 20th.

we're going to secure the border, and it's not going to take a year or six months. i believe we will do it in january and february of next year. and you are right that the you have blue state governors and mayors that they're acting like bull conner. they're just engaged in open defiance. larry: right. >> they looked at election day, and they didn't hear a word from the american people. they still embrace open borders, and they still don't care about releasing murderers and rapists and child molesters that jeopardize the safety of everyone's families. now, the good news, as you said, is federal law enforcement has the authority to to go in and arrest the criminals even if gavin newsom decides that he wants to bear hug every murderer in california. that's not going to stop federal agents from arresting criminals and deporting criminals. larry: don't you think i'm pretty good? i never went to law school, i'm not a lawyer. you know, my grasp of the constitution -- >> you've got, you know, larry, have you thought about becoming attorney general? [laughter] larry: i'm gonna have to say,

senator ted cruz, thank you ever so much for coming back on the show, sir: and congratulations on your big win in texas the. >> appreciate it. larry: thanks. all right. a.g -- no, i don't think so. coming up next, trump's blue collar boom is going to be fueled by cheap and abundant energy. alaska senator dan sullivan on that next up on "kudlow." be right away. ♪ ♪ but also want whiter teeth, they have to make a choice- one versus the other. new sensodyne clinical white, it provides 2 shades whiter teeth as well as providing 24/7 sensitivity protection. patients are going to love to see sensodyne on the shelf. it's payback time. all these years, you've worked hard.

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from unitedhealthcare. smart now, really smart later. larry: so president trump's blue collar boom is going to to be fueled by cheap and abundant energy. at least that's my view. joining us now, alaska senator dan sullivan. senator sullivan, great to see you, sir. >> thank you, larry. larry: the blue collar boom, tax a cuts and deregulation fueled by cheap and abundant energy. turn those liquid gold spigots back on, sir. >> we have an enormous opportunity. president trump campaigned on this, and it is going to be really, really important, larry, to unleash american energy. we're going to do it again. by the way, as you know, one of the best areas for american energy is in alaska. the trump administration first term was fantastic, best ever for alaska. and i think it's shaping up even more. we're going to make america

wealthy, alaska is the road to do that in terms of energy and critical minerals. larry: so he's got to rewrite some executive orders which he will do, no question about that. >> yeah. larry: the other thing though, senator, permitting reform, which is kind of a lost art. >> oh, yeah. larry: it sounds a little wonky. we did it at the nec, it's terribly important. >> oh, yeah. larry: one federal decision, all the i stuff that the hasn't gotten done, doesn't that open the door, the permitting reform? >> 100%, larry. you know, you and i have talked the about this a lot. i am obsessed and focused on permitting reform. let me just mention two things. biden rye thed to crush alaska. -- tried to crush alaska. we had 67 executive orders and executive actions singularly focused on alaska during the last four years to shut us down. the biden administration sanctioned alaska more than it sanctioned ranch here's -- iran. here's the great opportunity, budget reconciliation. we focused on taxes, we focus in

2017 on getting anwr open during budget reconciliation. i am very focused with my colleagues like ted cruz to do permitting reform during budget reconciliation. i think we have a great opportunity to do major nepa reform, and that's going to be key to unleashing america's energy wealth. larry: 100%. there's no reason why we shouldn't use reconciliation, absolutely 100%. democrats do that, republicans should do it too. just last 30 seconds though, i don't see any point in worrying about the climate change, the paris conference. i certainly don't want the united states to be handing out billions of dollars around the world. just the last 30 seconds, senator. last 15 seconds. >> yeah, we're reading about biden-harris wanting to dump $25 the billion more in this, you know, inflation subsidies, green subsidies. what we need to do is unleash american wealth, not spend more,

larry. that's very inflationary, what they're going to do. we need to create our own -- larry: all right.et dahen sullivan, thank you very much. without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected. to me, harlem is home. but home is also your body. ... io one to studio three. when you start small, you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the chase ink business cash card from chase for business. make more of what's yours.

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