shipping lng, they're a big player in the natural gas field p. so it's a company that a makes money, got a nice dividend, and i think they can only get bigger. and if we go to our own energy, they start making more money. taylor: and ten seconds, a.i., here to stay? >> yeah, of course it's here to stay. unfortunately, we'd better fix our power grid but, yeah, it is here to stay. taylor: instead of 8 p.m., it's only 9 or 10 p.m. now of the party that goes i'll 4 a.m. todd horowitz, thank you so much. all right, you guys, that's it. that's the very last show of 2024. the marks are closing -- markets are close closing. happy new year to everyone. we're it willing bit to the -- little bit to the downside, but for the year, it's been wonderful. that's it for

hello folks then welcome to a special edition of. i am david as been here for larry kudlow. just 24 days until president trump takes office. there are a lot of things that need to get done on day one. extending the tax cuts. amid all of this, there is a crucial house speaker boat on friday. president trump's endorsement of mike johnson enough to get them over the finish line? we will be asking house members and just a couple of moments. first, our own grady trumbull is live from d.c. with the very latest. >> those tax cuts ushered in during his first term going to expire exactly one year from today. that is setting up a huge battle on capitol hill in the new year. house ways and means chair trying to get ahead of that

fight by explaining the impact letting the tax cuts and jobs act lapse what have on the everyday american. it means a huge tax hike. on average 22% increase which he says will only compound the pain of inflation, particularly for lower income americans. getting the tax cuts extended is high up on house speaker mike johnson's legislative list. if he wins reelection later this week. >> we will restore stature on the world stage. get our interview policy fix. the largest tax cut in history impose on the american people at the end of next year when the tax cuts from the trump era expire. >> elon musk is weighing in on the tax the -- debate arguing it is way too long right now i need to be drastically simplified he says. democrats on the other side are arguing new trump scott -- new trump tax cuts will only help

people like him. republicans want to extend the trump tax cuts to give handouts to billionaires and megacorporations while enforcing the middle class to foot the bill. they argue that the tax cuts if they are extended will add to the national debt. republicans have new treasury data that they can point to which shows tax revenue david is up 45% this month compared to november of 2017. that kinda bolsters their argument going into this fight. >> one and a half trillion dollars coming in since then. only affecting the billionaires, 65% of taxpayers got a tax cut back in 2017. either mayor because the land of billionaires or she is off a little on her figures. thank you for that. have a wonderful new year's. the great state of texas.

we will be talking specifically about taxes and what trump will mean for that great state. pat, to you first, before because into the tax did they come i want to talk about the speaker debate. i would love to have a chance of having the executive office in the houses of congress both be under their one party. could republicans, just a handful of republicans grid up by voting down the speaker on friday? >> david, hopefully not. hopefully we do not fumble the ball, if you will. 5 million more americans chose republican leaders in the house and they did the democrats. we need -- to move forward, we are unified. we had a selection in november. we all nominated mike johnson. every single one of us. there is no other candidate. to date, there is no other candidate. we need to march it forward.

president trump is a great relationship with mike johnson. could you imagine going to ufc fight with donald trump? it would never happen. let's go back to limited government, low taxes, extend the tax cuts and secure the border. >> congresswoman, the question is not only what should come first, but can you do it altogether? some people say you can. the bottom line is americans are hurting right now. even though the fed lowered interest rates a couple weeks ago, the market is raising interest rates. mortgage rates 30 year fixed has gone to 6.7% in just the past four weeks. people's paychecks just are not getting what they used to by a long shot. they want money in their pockets right now. they are overextending their credit card debt as a result of

not being able to afford to pay cash for stuff. that is why we really think that a tax extension, maybe with some extra tax cuts in there, and some kind of reconciliation is necessary as job number one. >> i agree 100%. we've been trying to push that one reconciliation bill to make sure those tax cuts get extended in the tax bill gets passed. when i hear some of my democratic colleagues talk about is just the rich, just to billionaires, i need them to understand it is 90% of american taxpayers. feeling the largest tax increases in american history. 90% of american taxpayers. i do not know how many people they think are billionaires, how many people they think are rich, but they need to understand that a very large portion of their constituents that are feeling it to your point earlier, when you are saying how much the increase in revenue, when you get the

small businesses like 23 million small businesses tax cuts, they actually invest in their employees. they invest in the future of their business and they grow. higher revenues for the government. not lower. also representing opportunities for everyday americans to start businesses and to be able to thrive at job opportunities. this is exactly what we should be focused on. that reconciliation bill will be key. >> just one year from today, december 31, when a 25, is the last day that congress has to extend those tax cuts. if not, the increase of tax cuts for just about everybody paying taxes will happen. that means, by the way, you will lose at least one if not both houses of congress. i've americans see republican sitting empower with their taxes going up, they will vote you out of office. >> there is no doubt.

how about our campaign rhetoric matches what we actually do in washington with our policy. washington, d.c. has never had a revenue problem. my good friend ben just pointed out, the tax cuts increase revenue. we have a spending problem. we have not even planned, republicans have asked it over and over again. it is a chuck schumer senate that killed it. balance the budget and move forward. >> let's talk about some positive news. for once, you folks from texas will have a friend in the white house. the governor of texas on his own has been spending a lot of money , spending the texas taxpayers money and trying to do what the federal government is supposed to do which is secure the border. and thanks for that, they get lawsuit. one after another lawsuit from the biden administration. what does it mean, congresswoman

, what does it mean to the people of texas did not fight a battle on two fronts at the border and inside the beltway. >> it means being able to save tax revenue. the statewide security. we have an opportunity right now to get our borders under control again. what we saw in the first administration. under the biden administration from day one they took away many of the tools that were working to open up the borders. 20 million people in our country illegally. having a partner in the white house means you will be able to pass bills and secure the border act out of the house. be able to get past the senate and be able to have it signed into law by republican president >> let's talk about the effects of what is happening at the border. the growth of these criminal gangs that come from, mostly from venezuela in these groups. they have worked themselves into the criminal element of various

cities all over the country. taking over organizing mobster going to stores and take what they can and they act as defenses to sell the stuff. the fbi will have a new director if he is accepted what does he have to do to root out? i know the governor of texas has called them a terrorist organization. the biden administration fall short of that. they called a transnational organization. as a time that something in washington be done? >> the federal government's responsibility to secure our border. letting customs and border patrol do their job. over the last 13 years, there were 299,000 illegal immigrants arrested and charged with over

513,000 crimes that resulted in 187,000 convictions just in the last 13 years, justin texas. american people want the border secure, they needed to your because if you are not safe, you are not free. >> using the pi, they been too busy trying to get stuff from donald trump's place tomorrow lago and other things i don't have anything to do a security. we have another kind of mafia that is taken over large parts of the country. what does the fbi itself have to do to root out this new threat to security in the u.s.? >> one, it has to give permission to do its job. under the biden administration, they were very politicized instead of being used to determine the border and national security. choosing customs enforcement.

when we did a chart to i was looking at some of these gang members, some of these drug cartels and naming them as terrorist organization so that we would be able to get our military involved in targeting them. i still think it is a very important idea. i was a councilmember. working with federal law enforcement to deport criminal illegal aliens. i am encouraging them to do the exact same thing. a lack of partnerships. a federal dollar. working with state law enforcement that is already getting paid to do their job, allowing them to do it with local law enforcement to make sure streets are safe and communities are safe as well. >> working together. doing a lot to solve this trend.

talking to police here in new york city. they do not agree with everything that adams does. they do agree it is time for new help from washington. they want to cooperate with people like tom holman. it is not supposed to be able to he may help to end that roadblock. best wishes for a wonderful new year to both of you. great to have you here. thanks for coming in. should denmark led the united states by greenland? we should ask robert o'brien when kudlow continues.

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president-elect trump's suggestion that the u.s. should by greenland was dismissed by most as hyperbole. former national security advisor robert o'brien has doubled down on trump's suggestion say that denmark should let the u.s. by greenland if that country is unable to defend itself and the shipping routes around it. robert o'brien joins us now.

robert, i heard you talk about this. a wonderful idea because everyone was snooty saying no, no, no, that is just donald trump and as hyperbole. there is some real truth to this why is greenland such as strategic property in our interest? >> well, david, president trump, people may have dismissed him, but the reality is he's a real geopolitical strategist. greenland is part of north america just like canada is. it is at the pathway to the lower 48 states and also to alaska. the russians have, it is a frontline state. the russians have icebreakers up there. all kinds of nuclear submarines and planes. it is right on america's border. president trump is saying to denmark which is a great ally, we love them, they are good people and good friends. they were with us in afghanistan if you don't defend greenland

which is at america's doorstep, we will not put up with the russians or the chinese taking it over. if we have to defend it, we want to explain the resources there. take care the people of greenland and do it the right way. just sell it to us. donald trump turned out to be 100% right on this. >> let's just extend this a little further. could it become a drain on the united states? it my take some taking care of. i know there are untapped minerals and perhaps oil there, et cetera. could it end up being a drag on the u.s. economy and we actually did it? >> no. full of natural resources. it is a beautiful place. greenland will do just fine. the days can fix this. they can put an icebreaker there full-time. they can put troops there. they are very capable soldiers

in their vikings. they can put some infantry troops out. they can put some naval strike missiles there tomorrow the russia and chinese ships. they can take care of the people of greenland so that they are not tempted to let the chinese are russians invest there. there is a lot that they can do so this is not an issue. president trump was 100% right up putting america first. if denmark is not going to defend greenland, america has to me will not do it for free any longer. china has some extraordinary interest now in panama right on the panama canal. it manages, essentially, through some dummy companies that are there from china. manages a couple ports. one on the atlantic side, one on the pacific side. bridges all over the place. i just want to bring up the soundbite from gordon chang about the interest of the u.s. in panama. roll it. >> they are so many things that china can do to actually block

the canal. this is important for us because we have navies in the atlantic in the pacific. to get chips from one place to the other, we depend on the canal. >> what do we do about this? >> gordon is 100% right. this is a huge issue. built by america. panama gave us independence because america supported it. the canal was in the american sector, the american zone in panama. after they destroyed our fleet at pearl harbor, moving ships from the atlantic to the pacific and retake the pacific islands and when the war in the pacific. it cuts weeks off the travel time. right now, it is amazing, david, we have let the chinese get a port on each side of the canal. they could shut the canal down tomorrow. even if they do not the espionage that can be run is just staggering. keep in mind no such thing as a private company in china.

every company is required to report to the government of china the communist party of china. right now, the communist chinese run the canal. the canal treaty which we gave, generously gave the canal back. a lot of people including ronald reagan were opposed to. we generously gave it back to them. the canal has to remain neutral. they extra -- they have switched it to china. putting china both ends of the canal. that just cannot stand. >> you said earlier we let them do it. we did not let them do it. now we know, have exact details of the relationship between vice president joe biden and some of the business partners of hunter biden. we have those extraordinary pictures from america first legal that came out this week

that exposed that. it leaves some people to wonder about angola. earlier this month, these are the pictures from china, the meeting therebetween hunter biden and resident she himself, but why did biden go down to angola and give the angola government which is been in control by one party, a corrupt marxist party since 1974, why give them 300, no, $600 million for some crazy railway project in light of what happened in china. a lot of people are suspicious. >> you know, i watch this and i think of the hard-working people of this country. truck drivers and people living in the stores and second shift at a fast food restaurant are we taking their money out of their pockets and sending it to angola where there's a corrupt one-party state where the leader is worth billions of dollars? by the way, the railway that they are supporting is robbing

the chinese. the chinese railway project. poor folks in tennessee and texas and utah who are working a second shift at the factory. we are taking their money to send it to these marxist and angola. it makes no sense. president trump has been 100% right on this. he sees the geopolitics of the whole world. he sees where america is getting ripped off. we need to bolster our defenses. even with our friends in denmark not doing what they need to do. he is calling people outside this will not happen. come january 20 we are putting america first. the safety of the american homeland. that will be the top party of the president of the united states. >> we have run out of time. forgive me for being cynical. i look at the proof that we have between hunter's business partners and joe biden and icl of these and roads that china

has made in strategic interest for us from panama to greenland and i wonder what he got out of that. i don't know. maybe i'm being too cynical but i cannot help myself from that. robert o'brien, thank you for being here. happy new year to you. >> happy new year. thank you for having me. should president trump clean the slate at the doj and just fire every u.s. attorney he can find? we will ask david webb, carolyn doughty when kudlow returns. ♪ 's

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or what language we speak, every kid deserves the most amazing care anywhere. so how can you help? take a moment. call or go online to loveshriners.org right away and start filling our world with more hope, healing and possibilities. the department of justice attorney who led the prosecution 's over 1500 january 6 defendants is said to step down before president-elect donald trump takes office on january 20. should trump make a clean sweep?

demanding the resignation of all biden attorneys who spent the better part of 40 years turning it into a political tool. joining me now is david webb. caroline doughty staff writer at national review and hogan former white house deputy press secretary. great to see you all. what an all-star panel we have. thank you for being here. he did it in 2017. he fired 46 federal prosecutors who had been appointed by president obama. so he could do it again. right? >> he knows the power of the court system at this way. going after his friends, his colleagues, his coworkers, him personally attacking his businesses as well. the government can be used as a weapon in a tool to go against simply for disagreeing with the politics of those in power. donald trump will take a serious

look at doing the exact same thing he did before because the american people deserve a blind justice system. they have been attacked mercilessly by people at the highest levels in these departments and agencies who just do not like them and it is wrong. >> frankly i think this goes beyond what richard nixon did. the department of justice and its resources like the ei been used as a political tool to go after a political rival after all. this is really third world stuff i think it will take a huge suite. yet the start with a clean slate here in order to reverse the damage that has been done. >> you do. before the left loses their mind , remember bill clinton as dumbness because that is the response. dictator trump doing this, destroying justice.

i think two steps are prudent. review what he has done with the prosecution speared he certainly should not have been fired if he did not resign or does not intend to resign. go through and review. if someone wants their job back, maybe let them come back for a review. maybe let them come back and prove their case. it does not matter who appointed them. so many in the system ignored the problems. ignored the bad prosecutors. if america will have faith in this, then everyone needs have a clean slate. >> caroline i want to switch to another part of the deep state and that is the education lobby. it gets under my skin. i started out my professional life as a teacher in chicago so i saw firsthand. i did not last long there

because i could not stand the bureaucracies and the influence of the department of education which was kind of knew back then they already had this way of promising money if you do things our way. we look at the results. new jersey has removed the requirement for teachers to pass reading writing and arithmetic skills test. chicago, where i was teaching when i was at northwestern you, it is even worse. one in three students in chicago who cannot read. one in five who cannot do math, anything close to current level. how do we break up the lobby other than, or, maybe, including just dismantling the department of education? >> well, david, your examples demonstrate that.

the department of education have always had this relationship with the teachers unions. randi weingarten, these are behemoths that influence democratic politics and the way the department of education is ran. it has turned into a boondoggle in a black hole for taxpayer dollars that has not translated into higher education and academic proficiency outcomes. we saw that over covid. it was a scandal the way learning loss was felt by children across his nation. what linda mcmahon need to do is sever that relationship with the doe and the teachers unions which are responsible for a lot of the corruption you are seeing >> how do you do that? how do you sever that relationship? >> they can start by not conspiring with the teachers unions away with so with shutdowns and mass mandates and covid restrictions.

just putting linda mcmahon there , she will not be interested in collaborating with the teachers unions to tunnel the porkbarrel money that continue to lead our kids into academic mediocrity. pretty easy fixes here, david. don't nasa department of education to do a student loan bailout that is illegal that makes waitresses and truck drivers foot the bill. >> take that portfolio away. it should have never been removed from the banking industry that can judge risk. as we have seen, turns into a political tool. >> right. absolutely. just reduce the size and scope. >> i want to talk about democrats. they are still in denial. there are a couple exceptions. the stages of grief, that is just number one. you have about five other stages you have to go through before

you recognize what the problem is and you change your bad ways. when do you think that they will at least get out of the denial stage? >> that is tough because i do not think they feel like they are to blame for anything. it is their policies really that got us here. donald trump gave us record-setting success in record-setting time just a few short years ago. did not at the point back to reagan and they 80s. this was just a jarring whiplash effective just issue for -- a few short years ago being able to afford gas and groceries. the exact opposite happened when democrats came in and got control. for a long time, you remember, nancy pelosi only said it's because we are not really selling it that well. we just need to tell people. it was so offensive to tell people no, no, you are really dumb, gas and groceries really are affordable. the southern border really is closed. they did not understand it was

affecting real americans with real problems that they caused. i do not know if they will ever see it. >> the good thing for republicans as they have clear airspace. and, yet, they are bumping into each other with the speakers battle. for once they have clear sailing the democrats are at least serious democrats nowhere to be found. trump has a 51% approval rating which is much more than the 44% he had in 2017. they have clear sailing. but they keep bumping into each other. >> look, to the republicans, let me simplify it for you. the president is entitled to his team. ambassadorship, the respective positions. part of his team is the speaker of the house and he has spoken. you can have your differences, you can have your debates, but he has spoken clearly when it comes to speaker johnson and

this is his team. give him his team. if you want success, if you would rather lose to democrats, let the divisiveness continue, but unify around it. let the president have is t. >> does johnson get elected sp -- speaker on friday? >> i think so, yes. i think trump's endorsement is really powerful in this case and he will survive. >> okay. david, caroline and hogan, have a wonderful new year, gang. thank you for coming in. >> happy new year to you all. >> switching gears. front and center inside the beltway as a nation is just one year away from the expiration most of the trump 2017 tax code. if that deadline passes without an extension, at least 65% of u.s. taxpayers will get a big tax hike. and trump and the republican congress shoe for something even bigger? joining me now is grover

norquist, president of america's tax reform. grover, good to see you. first of all what is the latest inside the beltway as the trump team is getting ready about how high up on the priority extending the tax will be. >> if they do not pass the tax cut plus things like taking the corporate rate to 15, in the first few months of this presidency, it will be too late to affect the 2025 year in the 2026 election year. the president lost the house of representatives in 2018. republicans lost the house because they delayed the tax cuts. it did not get signed for a year , december 22. you have this wonderful growth in 2019. after we lost the house. nobody wants to do that again.

that was stupid, that will not happen again under trump's watch and under speaker johnson's watch. >> it has happened to republicans before. i think back to the first george bush read my lips no new taxes and then he went ahead and did it. for a lot of reasons it happened and he was a one term. this trump term will be as last trump term, but republicans could lose big in the midterms coming up in 2026. the last two years of trump's presidency, he won't get much done. >> trump could have a four year presidency or a two-year presidency. we will decide that, trump and the republicans will decide that in the next few months. do they pick johnson to keep it moving forward and do they move on the tax bill asap so that we have strong growth going into next year, 2025 and 2026 and pick up a bunch of house seats, not lose them. >> as i said before, people want money in their pocket now. you have this incredible debt

crisis, consumer debt crisis with consumer credit cards because of the problem that people don't have the cash to pay for things that they used to have the cash for because of inflation. you have interest rates going up on mortgages. you have all kinds of problems. people have to deal with their pocketbook. i have to ask about tax simplification. one thing that we did not really get. not as much as some of us wanted steve "forbes" and steve moore came out with the wall street journal piece suggesting t flat tax. any possibility that something like that may happen? >> something like that will happen and here's the good news. we have 22 of the 50 states having a single grade tax in their state income tax. for eight of those 22, my favorite rate or income taxes which is zero. there are 14 that are nonzero. another three that are moving to

single rate taxes within a couple of years. we will have a majority of the senate in just a few years, a majority of the u.s. senate will be elected and states that have a single rate tax. the great thing about great single rate taxes tough to raise got to look everybody in the eye easy to cut. we are cutting everybody's taxes >> the design a bit by "forbes" and a whole bunch of folks over the years is that it does have zero tax for the first, i don't know how you encounter it. 20,000 may be up to 30,000 dollars. that first chunk of change -- poor folks in the bottom of the income scale, of course a lot of them do not pay taxes now, but they would be exempt from paying taxes. for low income earners as well. so, you start out with that and then you have zero deductions so

there would not be any sweetheart deals for the rich. i would think people like bernie sanders -- he is always talking about sweetheart deals for the rich. this gets rid of all of those. >> bernie sanders runs on nv. and the flat tax takes nv off of the table because everybody is treated the same. we added five states as flat tax states in the last few years. there another three coming down the pike very soon. this is a growing issue. at the national level congressmen and senators will be able to say in my state, we have a flat tax, why not nationally. >> grover norquist you gave us some good news leading into the new year. good to see you. happy new year. thank you very much. >> you, to. >> the u.s. struggled during the 2008 financial crisis, texas

actually led the way and jobs, economic reconstruction under governor rick perry. what can the rest of the country learn from this? we will ask the former governor himself when kudlow continues. ♪

drill baby drill became trump's

natural for once again making america energy independent helping reduce a huge part of the inflation equation. the best ways to increase production in all fronts. increasing the supply of goods and services by growing the economy. the former u.s. energy secretary rick perry. i want to talk about increasing general growth in a second. first, energy. first day by president trump could be to end that lng pause. not only doing so much for companies here in the u.s., but it would do so much for our friends are brought that up to depend on russia another nations >> you touched on the core issue to make your economy grow. you have to have an energy policy that allows for the growth of your energy production

you know, no matter what that may be. growing up fossil fuel and particularly liquefied natural gas. the biden administration putting on these plans. driven by the radical left environmental groups. that really affected the economy i think it is s&p global which is the group that i consider to be the number one energy expert in the world. basically what they found is there would be 100,000 jobs created by taking the pause off. getting it produced in sending around the world. driving up the cost and energy here at home. they said that 15 years ago when they built the first.

the center of economic growth. expanding that across the country. clear messages and being weary of the united states taking them to count on us. the wealth that gets created by having a stable industry. it makes all the sense in the world. showing us how much of a failure the fossil fuel industry in particular mandating all of these crazy things that they were coming up with. let the market decide in the market will go to fossil fuels in a particular liquefied natural gas. >> already gearing up for. they are ready to go. they are ready to give all they have. they know what is coming.

bp and shell are believing that they will not get the energy that they thought they could from alternatives. it is helping a whole bunch of companies. i just want to focus a second on your 10 years. you and i met just after the financial crisis of 2009. texas had this extraordinary record that far exceeded the u.s. in general of recovering from that. you said it is not rocket science. >> indeed. don't over regulate or litigate in a silver workforce that translates into a countable public schools. we just put them there. finding people that support those are generally the

challenge. starting back in oh three when we became a republican state, we have not been a republican staple for the last 20 years. we started putting into place these policies where you don't over tax and you don't over regulate. we started recruiting businesses literally across the world and around the world. if you come to texas you will not be overtaxed. you will not be over litigated. you can find the workforce that you need and then get out of the way. that is exactly what governor abbott is overseen right now. my bet is, speaking of shell and bp, probably thinking about giving them a call and saying come to the state of texas. >> using that model for the country at large. that is the overall game plan.

have a very happy new year. very good to see you. >> god bless you.

david: well, thank you all for watching this special edition of requested "kudlow." and we've got breaking news before you go, larry is back on thursday. have a very happy new year's eve and a very happy new year. thank you for watching. see you next year. ♪ if. >> hello, i'm jason chaffetz in for elizabeth macdonald. welcome to thi