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tv   Kudlow  FOX Business  December 10, 2024 4:00pm-5:00pm EST

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question of consumer confidence and it's a little hotter than you'd like and the fed will still probably cut the rate of the december 18th meeting. >> lewis thinks if we see owners come up that'll drop and be a market positive. george, you're not old, you're wise. go with that. thank you for joining me. that's it for me right now. are that's it for me. we're now going to close it up. i'll see you tomorrow. larry: hello, folks. welcome to kudlow. i'm larry kudlow. middlemen businesses and families are all doing the trump dance. that's right. more on this dance in just a moment with congressman wesley
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and senators and mike crapo and up land and peter doocy live again in west palm beach, florida. peter, what's cooking down there? reporter: larry, here in the palm beaches today we're feeling the push and poll of biden foreign policies and president trump for the president elect says about foreign policymaking headlines and biden team has control of the situation reel. >> we have the ability and have had conversation withs appropriate officials in the incoming trump team, particularly about a what's going on in syria and what's going on in ukraine and middle east writ large. those conversations have happened and they're still happening.
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reporter: meted with the next national security adviser michael walt well and president hoping to get more mileage out of the now infamous dinner with justin trudeau and joked, in private, if the economy can't survive without ripping off the u.s. in the tune of $100 billion, then canada should become a state. we have this from trump, it was a pleasure to have dinner the other night with governor, justice trudeau of the -- justin trudeau of the great state of can dam it i look forward to seeing the governor to continue in depth talks of tariffs and trade and it'll be truly spectacular for all. we are confident the president was kidding there because as far as we know, canada is still not a state. justin trudeau still the prime minister but we can check on that and if it changes by 5:00 we'll get back to you.
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larry: anybody say anything in the press room going for them and it's going to give iran $10 billion in cash and and and going for them just came up. going for them and talking about this $10 billion smashes to our deer friend had >> going for this white house to something big popped up and that did not come up and i bet that it won't. any time soon. going for them and it's carine.
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larry: once again, peter doocy from west palm beach getting a very good tan. all right, folks, now, wall street trump and vance and that's the subject of the riff. going for them and trump dance and that's right, take a look at whopping numbers and hot off the press and registering this and 39 year history of the survey. middle class working folks for financial situation better off a year from now. going for february.
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on survey on top of all that with big business starting to dot trump dance and business round table going for them and going for trump. their confidence index going to jumped to want highest level with two and a half years and six month expectations of sales and capital and unemployment and all improved. consumers. bet the small business are anticipating a permanent extension to that and make up a huge portion of the overall american businesses and jobs. cash free tax tips.
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like a break from that double tax and they've been paying on their lifelong saving ands earning ands right there from president donald trump campaign. going for them on the promises and the stock market rally and going for the stacks cuts 15% for corporations very healthy for province and real worker wages and scott bessent market rally and going for them on doge brothers and elon musk and vivek ramaswamy will do their park in chopping down the size of government cutting spending spending not only regulations. ending regulatory agencies themselves. the combination of 3% or better economic growth gdp for 7 going
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for the production of lower energy prices throughout the economy. this is mr. bessent's 3-3-3 formula and it's become very popular on wall street. mr. tram subpoena popular on main street and wall street. trick is to get it all down. as soon as possible. propses made, promises kept. mr. president, that's riff. mr. hunt, thank you for coming back on. see all the numbers. small business confidence is soaring and consumer confidences confidencessoaring and the fat e soaring in the confidence level and what's going on here? i think they're all doing the trump dance. >> larry, on january 20th,
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measuring is back open for business. and that's exactly what president trump is going to deliver. we know he's going to deliver this, larry. we saw the girls that are going to do his first presidency and after that they're in their pockets and excited to see daxs go down and inflation go down. we're excited to see regulation being capped and by the way, that's the biggest killer to small businesses and large businesses is the fact that these people, democrats, have put so much onerous and burden some restriction on us we can't operate. large corporations and small busibusinesses and take that exa tax revenue and reinvest it back into their companies and back into their 401(k)s and they get that growth of their business for the future. we're excited to see that and i think over the course of the next four years we're going to see the run, they'll likely have never seen in the history of this country.
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larra rhode islander all that is true. all that is wonderful. kudlow trust sen joying that thoroughly and going for that also. i am a little worried, wesley that, tax cuts will be second. tax cuts and budgeted cuts will be second and i'm not opposed and understand energy, the wall, the border, defense. is i'm not criticizing senator thune nor president trump or miller and they're high priorities and they're cutting taxes and regulations. never had one reconciliation according to jason smith. what do you make of that story. >> we passed hr1 and hr2 already
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and bring in the policies baaing and reimplement them on day one. that's why it's very easy. got out of a meeting earlier today and talking about the tax cuts and jobs act and how we can continue to further that mission moving forward. we did the hard work in 2017 and doesn't expire till the end of 2025 and we have time to get this done. we can do all this simultaneously. this is not an or conversation, larry. it's an and conversation and every single person and every single member of congress that's a republican, we're leer and president trump delivered us the house, senate and president seizure disorders. we'll secure our southern boaboarder and get our economy going again and that's what the american public voted for.
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don't count us out yet, larry. we have time to work but president trump at the helm, we know his agenda will get through the next year. larry: i'm rooting for you. simultaneous and that's a good way to look at it. you're saying hr1 was the energy bill, hr2 was the immigration bill. you already know what the defense mark is, i think it's something like $860 billion or something. you know that already. that can roll. while that's rolling at the same time it cowork at the same time and work on one and vote on the other in february, march, april. is that your thought here?
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you don't want to be the one or two people holding up the progress of america we've done the leg work in 2017 and at the end of the day, we've got to make sure that we move quitly but prudently and all educated smart people and walk and shoe gum at the same time and get this done. update us, wesley hunt, how is my pal pete hegseth doing and kash patel and tulsi gabbard and the noms doing for the cabinet?
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>> i they they're doing much better andive said this a thousand types this, is a mandate from the american people. president trump is putting these people we he wants them to impt all the efficacy of the programs and getting dei out and focus on war fighting and war fighter and west point grad and nomination coming up this weekend, go army beat navy, i want to get back to the war fighting i grew up had in and my family served in and pete hegseth is the man for the job. he'll get through and i think other wills get through and sensenators that were apprehense a few weeks ago are out for the idea. pete is the man for the job and kash is the man for the job and pam bondi is the woman for the job. there's a slew of candidates that president trump put forward to save our could be triple-demic, and we're going to do just that . larry: congressman wesley hunted, on your game. thank you.
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coming up. john carney and brian brenberg and got to have tax cuts in order to get tariffs going. you don't want to do tariffs allobe without the tax cuts. folks, catch kudlow monday through friday at 4:00 p.m. here, fabulous fox business and if you can't get us at 4:00 for some crazy reason, text your favorite 9-year-old and she'll show you how to dvr the show and you'll never miss an energy bill, a tax cut bill, a deregulation cut bill and another bull market in stocks or something like that. i'm kudlow, we'll be right back. ♪ it's the explorer! each helping to protect their money with chase. woah, a lost card isn't keeping this thrill seeker down.
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♪ ♪
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♪ something has changed within me ♪ ♪ it's time to try defying gravity ♪ ♪ ♪ >> it's desperately important that trump insist in a reconciliation bill in the first 90-120 days that includes all the taxes and regulations. you've got to do it at wings. go to the cathedral and pray for the bill.
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larry: referring to the cathedral of notre dame. pray for supply side tax cuts. we're joined by john carney and breitbart economic news and coauthor of the breitbart business digest and brian brenberg cohost of the big money show on fabulous fox business. gentlemen, welcome. john, newt is making a point, newt is very worried about this story because tax cuts second. i spoke to newt on the phone and you could -- wesley hunt referred to this. could have pair hell policy operations so they pretty much in the house have already, it is true hr one on the bill and hr2 is the immigration bill including the wall. then there's a defense budget. all that is pretty much been tallied up and have to reconcile with the senate. but but but, now that said,
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follow me, while that's going on, separate operation, the ways and means committee and the finance committee and presumably the treasury department and administration will be working on a comprehensive tax cut bill. >> right. larry: that would be ready pretty fast and you happen vail that thing and launch the legislative effort, i don't know when march, april, something like that. >> get it done quickly. they were talking about waiting till the fall to push it back till september, october, november. that's a big problem. one because the trump tariffs are going to come in before that, and what you don't want to do is start to put on the tough for american businesses that import goods and squeezing the margins and they'll not be able to pass on the cost to consumers but couple with the tax cuts and gives them relief to the bottom
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line. larry: not to interrupt, but this is what was done. tax cut bill was passed in second half or third of the year. it was a hail mary and president trump got started on the tariffs with china and all is well. it was a important thing. tariffs, i agree with john, the tariffs are coming. i don't think mr. trump will wait long for him and you've seen with canada and mexico, you're exactly right. i think that the chinese and foreigners get hurt more and have to slash prices and profits to sell here and there's one off hits to prices and profits and better to have the tax cut already in place. that's what you're saying >> you
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want to go to china with the tariff saying we're going to put this on you but we're at the same time going to make america much more competitive and a double whammy if you're not getting on board and negotiating with us. wesley hunt is a persuasive guy, larry. i didn't think he'd buckle to the parallel reconciliation bill and makes me nervous. does that thing happen in april any don't know if it happens in april. if the defense energy border thing gets messy, trump has a formula. larry: i'm in favor of one large big bang reconciliation bill. there's some wining it's too complicated and takes too long. you're getting paid for that and he elected to do that, okay.
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i'm saying, okay, you could look at it this way. that's my point. the priorities are important. question is steve sca scalise in tomorrow and working on a big regular silluation bill that hai don't know why it's not more attractive to the transition. >> everybody needs to remember, this was an election fought over the economy. you need to prioritize the economy and the border. you cannot push the economy back and it's crucially important you show the rest of the world we're strengthening our economy if
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they're tempted to say we'll retaliate with our own and we say bring it. our economy is getting struggled and yours is weakening and they'll retaliate against them. laurie: have to publicly point to parallel processes but it's not. larry: look, i know -- the world trading system is broken. wto is broken. china, india, brazil, south korea gets away with murder. trump will take action and he has to. bet tore take action after you cut taxes. >> you start with taxes because you can control them. small businesses and every day americans said and they're seeing it in the polls, we believe trump will do this. we need tram top do this. if he does, we will respond by
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investing, growing, hiring, he's got to keep good and congress will do the complicated thing and earn our paycheck. by the way, you can do it. these guy cans figure it out. all the consumer confidence numbers will reverse too . it's being built on mr. trump's promises to get that stuff done. >> the tax bill doesn't get easier the longer you do it. the longer you wait, more lobbyists come in complicated and try to put in loopholes and get more complicated and less likely to pass. the rule with the new presidency who just got elected with a majority vote in the u.s. population is spike while the iron is hot and don't wait till the back half of the year and do
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it now with all the momentum. if you wait you don't know what's going to happen and the market will start to doubt t businesses will start to doubt t consumers start to doubt it. larra rhode islander brian, your point, if something goes wrong and lauren: larry: brian, to your point, you're playing the largest game of russian roulette and that would be awful. you might give it a small probability but not a zero probability. >> can you imagine the backlash these guys would face if they got to 2025 and all fought about something else. larry: lose both houses in 2026. >> come on, john is exactly right. you get 100 days to do the thing that america just voted on get it done. don't get cute. no way america is tolerating any kind of talk about reconciliation bills. nobody is in the mood for that . larry: all right, that's it. last word, john carney and brian brenberg. very good.
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catch brian and jackie deangeles and taylor riggs on the big money show and cohosting the bottom line tonight at 6:00 p.m. on fabulous fox business, busy fella. thank you for coming down from the hills of connecticut connecticut. coming up, folks, kris merri bowl ray headed for un--- christopher wray heading to the unemployment line and joe biden giving $10 billion to iran. very clever and they've been so good to us presumably. joe concha and mark simon talking about it all when they're here next to me onset. we'll be cuddling together. folks, remember, kudlow is available as a podcast. episodes every weekday after the show. or on spotify, on app apple and foxbusinesspodcast.com. be right back.curi ♪ asking smart questions about opportunities like clean water.
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larry: talk politics with mark simon and joe concha and joe has a new book, "the greatest comeback ever". guess who it's about. donald trump. and going for them and going for joe biden secretly going by-iran with them. gop the require rows and unlike some of the going for the secret and can desitin and going for that 10 billion going for iranian proxies and firing on the troops and in the middle east. and getting out the door as quickly as possible and donald trump coming for the negotiation. showing you the poll and fascinating. gallop, 2023 americans should we
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negotiate to end the ukraine war. 2023, only 27 personned us to negotiate and 2024, 52%. they want our money to go here and not to a foreign land when people are suffering in north carolina and georgia from hurricanes. larry: one of ths $10 billion story. say it'll never happen again. this is a indictment. they should have never done this giving $10 billion to our enemy. mark simon, you're a passionate and caring guy. can you help christopher wray from heading to the unemployment line? >> no, just leave and get the heck out. the media is corrupt and never will report the $10 billion. historians are corrupt and every time a politician leaves, should analyze the book. won't see a single book.
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this would be the most incredible book about the corruption, biden administration corrupting the immigration system, border, justice department. all this stuff, we need somebody to write that book. but what the heck happened. maybe, joe concha, that'll be the next book. >> literally, look for books on joe biden his entire presidency, i had the only one i think. larry: that's incredible. >> they kind of write themselves. larry: christopher wray turned out to be a super bad guy. he was appointed by donald trump but it was chris christie's idea and he ran against president trump and said nasty things and destroyed his own political career, christie. christopher wray, bad guy and he was the one that questioned whether trump got hit by a pull et in a field in pennsylvania. remember that? >> horrible, chris thristy and the horrible bridge scandal and ray was the scannal going for them and tram didn't get hit by
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a bullet and just shrapnel. like trump said the other day on meet the press, shrapnel from what? >> fbi director throwing that out and and raid somebody's home and wray invaded mar-a-lago and invade the guy's home and he becomes president, you're not keeping your job. larry: for what purpose? they never had a case and wray was doing the bidding of merrick garland's justice department and doing the bidding of one joseph biden. come on. for what pump? >> yes and that's why kash patel
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is coming in so he can re-for the purpose the institution. it's a beautiful thing. larry: yes, it is a beautiful thing. mark simon, all of president trump's nominations getting through? the cabinet nomination s? >> yeah, all of them. it was a spirit campaign on pete hegseth. can't find anything on the record and has to be on the record with an actual witness if you hold it against him. doesn't exist. they're going after tulsi gabbard now a little u that'll go nowhere. bobby kennedy. larry: why tulsi gabbard? what's the case against her? i don't really know her? a republican case or democrat case? >> it's a media case. used cnn method and 52 anonymous source sos and 26 noble laureates signing a letter. >> she's a russian agent. larry: she's a former democrat and i like that and same with rfk. i don't know if rfk jr. is a registered republican or not but a former democrat serving in a republican cab gnat. that's very cool. there was a time in american
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history like i'll go back to the book on john f kennedy and reagan and had several democrats in his candidate including treasury secretary, that was responsible for all the tax cuts. anyway, i'm just saying that's why the democrats might be there and republicanning should welcome all the people. >> elon musk never voted republican, joe rogan and came out ken polcari dorsod donald trump because of goofy tim walz from minnesota appalled him. >> liz cheney. >> i said a republican. >> rights. touche, she's one of the big losers. larry: read miranda devine. love to do more but got to get out. joe concha and mark simon. joe, full name of the book? >> "greatest come back ever inside trump's big beautiful campaign". remember the last part? larry: greatest story ever told. >> that's been used.
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larry: joining me from wyoming and the other greatest story told, senator cynthia lummis. senator, welcome back to the show. may have heard that spirited dialogue and agree with mr. simon and mr. concha that all the cabinet nomination wills get through? >> i do, larry. you're hear ago lot of media chatter about certain ones of them. you named all the ones that seem to get the most media questions. robert f kennedy, tulsi gabbard and defense secretary nominee pete hegseth. i don't hear that chatter coming from senators. i hear it coming from the press. so i think that there's going to be a solid effort to confirm all of the president's nominees. do you know that over the last 20 or some years, only two nominees have been voted against by members of their own party?
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it was only one person in each case. in the u.s. senate, i see that happening this time and president trump closing in opt nominees and allegations that are truly allegation withs no backing. larry: yeah a lot of smearing going on from the left. senator, i have to >> president trump has a backbone of steal and never backs down, return the pentagon to the war fighters, pete, is what he told me. clean out the social justice politically correct garage and get back to lethality, war fighting, accountability, meritocracy, and readiness.
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ness.larry: pretty strong statet and i don't know why anyone would disagree with that? >> they're refracting president trump's priorities which are correct and seen people leave the military because they're discouraged about the woke ideology that is permeated under the biden administration. and it's time to restore the meritocracy that is always been the u.s. military. and to have the military be proud of itself in addition to the american people being proud of the military. pete seg health spent a number of years profiling and explaining the importance of having a military that is ready and lethal and that's prepared and that runs as meritocracy. and it will be more accountable under pete hegseth and i believer he will be confirmed.
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larry: senator, switching gear as little bit. i know you're a crypto currency fan and so is mr. trump and he's talked a lot and bitcoin had a tremendous run especially after the november 5 trump victory. but i'm reading in the new york times, some of the big banks have de-banked customers, including wealthy customers because they were involved in sec against crypto and federal reserves against crypto and operation shelf point 2.0 and de-banking and one bank alabama at silver gate bank may have went under and larger banks wouldn't support them and bid across them. what's going on here in the last minute? can it be changed in >> just as
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there's been lawfare at justice department, operation shell point 2.0 has been so much bigger than many of us knew. i was so glad that mark andressen got on joe rogan's program and blew it up and all kinds of people de-banked get on x and explain what de-banking has done tackle to their businesses and could be a gun manufacturer, could be a marijuana business, it could be an oil and gas producer. and definitely has been crypto and this government has gone over the industry and tried to snub it out through the regulatory state and the bureaucracy and i'm so please that had president trump will stop just as kash patel will go into the fb and i recollects do away with warfare, president trump is putting people in place
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at fdic and treasury and elsewhere in his government. and making sure this industry can flourish in the united states with transparency and protection. larry: going around the sec pro crypto. am i right? he's pro crypto? atkins s? >> i have yet to meet with him but -- larry: he s. >> good. that agency has taken enforcement actions against crypto companies and paid millions in fines and millions in legal fees and it's a merky regulatory frame work they can't comply with and even if they want to is o -- so operation choke point is a complete disasser and lawfare on crypto and time to undo it and president trump will undo it. larry: i believe he l. senator cynthia lummis, thank you very much. appreciate it very much. hope to see you soon. folks, next up on kudlow, what's
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happening on this tax cut and reconciliation bill? how to score it. we have an expert, chairman of the senate finance committee, mike cray ports of entry returns to the show and i think he had a very important meeting today. maybe he'll give us a little update on the state of play. still worried about the tax cuts. i'm kudlow, crapo is next up. ♪ on pain relief, my recommendation is simple: every home should have salonpas. powerful yet non-addictive. targeted and long-lasting. i recommend salonpas. it's good medicine. ♪ hisamitsu ♪
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larry: we have gnat torr mike cray ports of entry. welcome back. have you met with scott bessent and talked strategy? >> yes and he's very engaged and he'll be a fabulous secretary of treasury. larry: ai agree with that and somebody that's a prime backer and the tax strike thaty part and because i'm still worried and have a couple guests that are still worried and going for them and >> i didn't discuss
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that in detail with him and not a member of the president's financial team and bot 2078 line i said to you, larry, there's a lot of arguments going on around here in the house and senate and i presume that the presidential transition team and with the president and there' positions on both sides. ised made as speaker of the house and finance chairman committee can go whatever direction and we'll be ready to move when they say when the sequencing is and we move forward. larry: let me ask you, it's a bit of a different article and we discussed earlier in the show. different arguments. mr. trump will work whatever his magic is going to be on tariffs. i mean, he has to. america has a short end of the stick and going after
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reciprocity or broad-based tariffs or whatever strategy, he wants to embody. wouldn't it be bet tore have tax cuts in place to cushion the employee of tariffs and foreign countries, foreign companies will bear the burden. they'll have to cut prices, their currency wills go down and american companies may have one time price hikes and american cob supers may have one time price hikes and it would be better to cushion all that with large taxes and you recall in 2018, no, in 2017 in the fall, december, we got tax cuts and tariffs in 2018. wouldn't you want thomas mancino now, tax cuts first and then tariffs? >> i believer your point makes sense, larra rhode island the bottom line, seizure disorders have not discuss that had issue. i don't know specifically what the president's tariff strategy is. but the bottom line is i don't believe that we should tie tariffs or frankly i don't
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believe we'll tie taxes to anything. we must not delay the passage of the tax bit any further than is necessary and wait to do it after the boarder and defense support and energy policy and one of the arguments being made, i can work with that. we can do it. larry: can you set up a reconcile tax strategy? i use reconcile. house and senate. can your put a tax policy together by april and getting into the legislative flow?
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>> yes, when the president and leader was house give us a time line, we can meet that time line. larry: will you hold hearings or do you know? most people kind of know and scanning tax cuts and there's going to be issues for contention and you've got cash tips, tax free and you've got overtime and that's what the whole country pes and the stock market coming back down also. >> you're right and failure to dot extension of tcja and to adopt some of the other key tax provisions you're talking about, failure to do that is not an option. yes, we can get that job done. larry: all right, i'llhold hold you to it, senator mike crapo. we appreciate and thanks for coming back on. folks, right back with my last word.
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chase really knows how to put the hart in your local community. see what i did there? hey, jackie! (♪)
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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! ice cream on you? ooo, tacos! i got you. wait hold on, don't you owe me money? what?! your money is a part of your community, so your bank should be too. like, chase! larry: so stocks, bonds, crypto, consumer confidence, business confidence, everybody's doing the trump dance. that's what's happening right now. and now it's time to boogie with liz macdonald. here she comes. elizabeth: you know, i would pay big money to see more of you, larry kudlow, doing the trump dance. [laughter] i would tweet it out over kingdom come -- [laughter] don't ask me to do it. i look like seinfeld's elaine trying to do the trump dance. larry: have a great show, liz. elizabeth: welcome to "the evenin

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