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but better new, president-elect trump in washington seems to be getting his one big beautiful bill. senators bill hagerty and dan s sullivan will join us. but, congressman greg steube and robert o'brien waiting in the wings to talk about green land going maga. first, max gorden live in malibu, california. in the terrible wildfires. what is the situation, is it getting any better? reporter: well, larry, we have a grisly update. the l.a. county sheriff office confirmed human remains have been found in house that burn the down behind me, sheriff deputies responded last night to a welfare check, the remains were found. if true, this is the first death associated with the palisades fire. just an awful -- a lot of member of media gathered because of this discover,

from where we are on pch, you can see the destruction. laying out. burnt palm trees and million dollar homes. once beautiful stretch of roadway now a hell scape to east of us eaton fire bunches, 5 people confirmed dead, deputies there say, that the death toll could ride with eaton fire as this tragedy continues to unfolded across southern california. larry: all right m m max gorden. >> to capitol hill, fox news aishah hasnie with something interesting, what a cooking. reporter: president-elect trump according to a source in the room with the senate republicans last night, he has been able to convince senate republicans to move forward on his big beautiful bill. one bill to get his agenda done. with the caveat if they get

bogged down they will be able to split the bill to two. >> we had a great meeting, great unity. whether it is one bill or two bills it will get don. there is a lot of talk about two, and a lot of talk about one, the end result is the same. reporter: we're tome that several -- told several republican senator made case for splitting up priorities to two separate bills so they are not forted to vote on debt ceiling. president-elect trump listened to them but did not appear to budge. meanwhile we're watching laken riley act, they passed first proceed ra vote to open the debate even chuck schumer voted yes on this

democrats may want to offer amendments but this shows a willingness to work on this bill. back to trump, he will be hosting a lot of republican governors tonight, including his former rival florida governor ron desantis. and house ca caucus leaders head to mar-a-lago this week end. larry: aishah, i have a lot of sources in that republican conference. there were arguments made for two bills by john thune and cruz and graham, mr. trump held his ground, they left it, your reporting is what i heard, but i heard so many different things, i was not sure what i heard. reporter: inric interesting, after the

meeting trump and thune came out and were not publicly will doing say they would did one way or the other, trump still saying he is open to one or two bills, privately it was agreed if trump wants a big beautiful bill, that is what they will start with. that is what they will start with, if they slowdown, they will have to pivot to two. at the end of the day priority for trump is to get this done fast. larry: then it will be one bill strategy out of the house that will start it. aishah hasnie fabulous appreciate it. >> you got it. larry: we'll get back to one big beautiful bill. but i want to talk about political failures keep running california. that is the subject of the riff. now look first, the night meyer in california is a natural disaster no one can control the santa ana winds, my own brother and his wife who live in hollywood had to

evacuate. thankfuly, the hollywood fire of the contained and they have returned home. but with catastrophic fires like this, there are no heroes, always better to be safe than sorry. unfortunately, however there is a good deal of evidence that suggests that the blue state, california politicians have made the tragedy worse. official fail to properly refill his rose viewereservoir there of no fire in hydrants and mayor of los angeles cut the fire department budget, to preserve an obscure fish, the smelt, governor newsom cut the water flow that never got to southern california. also in defense of this obscure fish, take a listen to president trump on

smelts. >> very sad, i have been trying to get gavin newsom to allow water to come, you would have tremendous water. they are trying to t to protect a tiny fish, which is in other areas for a smelt. for the sake of the smelt, they have no water. larry: i want to repeat, this is a traumatic nightmare of a natural disaster in california, lives lost, homes destroyed. i am not an expert but if his vie -- his viewers are empty. -- reservoir are empty that is a government mistake of the guesse of first order people tell me in california the infrastructure, the pipe and water system pipe and power system has been neglected for some time in large measure because so much of

money it has been flowing to so call climate project by extreme left greeny politicians, maybe if governor newsom and mayor bass and others spend more on water and power infrastructure and reservoir management some of this tragedy in california could have been mitigated, i'm sure that folks in the l.a. area, are a lot more worried about their safety than they are about the blame game at this . but it will be useful at some point. to have a postmortem and look at what went wrong and what could be done better to mitigate the natural disasters and protect the good citizens of los angeles. there is also a financial angle. early estimates suggest that perhaps a 50 billion dollar loss of which 20 billion will be insured losses. california has a big time

problem on this score. very large home insurers like state farm and all state are pulling out. state farm, i think stopped home insurance last spring. i'm no expert here either, but, you have to wonder if they were looking at same infrastructure problems and assessing same risks and they decided they don't want risks, blowing up their company, they have shareholders to answer to. california state insurance regulators will let insurance company charge sufficiently high are premiums to cover the natural disaster risk ofs, the premiums get higher and higher, that only way that insurance companies can make a living, california state insurance regulator and plan the fair plan, is going to take a big hit from the wildfire damages, they are

about to assess private insurance companies a huge amount which the private insurers, cannot afford to pay. california is already in a home insurance crisis, even before this catastrophe. this may be the costliest blaze in american history. not completely unlike the hurricane disasters you see in florida. or else about, louisiana for example. 7 property values and all hard hit areas, will plunge eve, even while insurance premiums skyrocket, this is not the moment for citizens of southern california who are worried about their survival than dollars and senses right now. but one reality, is surely that the highest tax state in the nation can do a lot better managing its vital pipe and power simms and

reservoir and forests and insurance system, than it has done. i will say what a lot are ththink, you want to help the people and the businesses in california, if you do, then spend less money for the left wing climate extremism, and a lot more money for basic services and put more money after tax into the wallets of the citizens, and their businesses, that is the riff. all right, joining us now, talk about whatever they want to talk about. senator billi hagerty of tennessee, dan sullivan of alaska, we have a split screen, they are old friends of mine and it show, dan sullivan you are on the left coast, i don't know where you are today, but home state is alaska, did i get this story wrong, i don't feel like blame game right now, because lives are being

lost, but someone has to answer for certain things that could have been better to mitigate the score. don't you think? >> larry, i could not agree more. happy new year. >> you too. >> we have big wildfires in alaska. and but way in when you manage them is that you can't focus everything through the lens of climate change. what these guys have been doing, president mentioned other day of this smelt, indangerred species t issue that does not give californians water, there will be a lot of discussion about this, a lot we can do to make our country safer, so we don't have these catastrophes, it say real catastrophe, our prayers out to those in southern california. >> that is true. my own brother, my brother and his wife live in

hollywood, they had to evacuate last night, they have come back in. senator hagerty, what are you thinking about federal policies, dan sullivan mentioned stuff, what do you think bill hagerty? >> when you were in trump administration in 2020, president trump signed an emergency order that would have allowed california to address this gavin newsom, i can't believe he is still in office. gavin newsom decided to not abide by that but not to fill reservoirs but to help the smelt. gagavin newsom stay decided that is not important, it and i matter of priorities. the priorities in far left state of california are way out of alignment.

my heart and prayers go to people in southern california, i have spoken to a number of my friends by found, this is devastating, this is made worse by the fact that politicians in california have made terrible choices, for prioritizing the environment, and the far left causes that really are way outside of t the -- bounds of reality. larry: it is the highest taxed state in union, the water and power services are darn bad, they have been rotting, they have not been improveed. you know paychecks after tax paychecks for working folks have been doing badly. >> speaking of after tax paychecks, senator sullivan, to you, the reporting is that after a spirited conversation mr. trump prevailed on senate republicans to please go one big beautiful bill. which is where the house will go.

money bills originate in the house, as you know. not a war. but that is where they will start that will be final decision is that correct? one big beautiful bill, mr. sullivan? >> larry, i don't think we're there yet, i think you the reports by aishah hasnie was accurate, we had a good debate, a good discussion with president. when we came out said we're unified and focused on same issues, which is border security, unleashing american energy, peace through strength, rebuilding our military, and extending tax cuts we're unified, i would say with regard to budget reconciliation bill it is on going discussion. it was a good one last night, we want speed, and we want success, those are two issues, they are a little bit intention we'll get there it will be president who decides which way in

which we go, we'll be working on a back up plan in terms of two bills, i think there is a well the of unity on two bill approach, but president will make the call, a good discussion last night, we unified to get mandate that president trump got in his overwhelming election that is the big goal. larry: senator hagerty, we have not talked about this you and i am i am for one big beautiful bill, i don't want to delay the tax cuts. or tax extension or new tax cuts like 15% corporate tack that is fabulous or no tack on tips or no tax on overtime. they are fabulous. i don't want to delay a blue collar boom. i want it to start in 2025. this year. i have been rooting for one big beautiful bill. and reports are aishah

hasnie she always getting it right, i heard too mr. thune did say, that yes we'll go with the one big bill approach, but if it boggs down there might be changes. so, take us out senator hagerty, what's the real story. >> i think real story is that my colleague dan sullivan mentioned there is fregreat unity awrong republicans on both sides of capitol hill, we want our energy 6 sector back in business and our border security and economy take off, policies like gain% corporate tact rate will put us back in position. of having our economy skyrocket, recall back in the first tack kit and jobs act we saw economy grow twice the rate of any other major economy our tax revenue come in at 30% above cbo predicted and lower unemployment. we need to get back to that place, we need to make it happen, i at agree

with you, quickly as we come. larry: all right, happy new year, appreciate you coming on. senator bill hagerty, senator dan sullivan, appreciate it. >> it greenland going maga? we will ask steube and robert abr o'brien next up on kudlow.

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xfinity. made for gaming. rewards members, get early access to an ea sports fc25 kit. visit xfinity.com/rewards. >> greenland you look at the people, they have tremendous -- we got applause as we landed yesterday. and there was like a love fest. larry: all right, mr. trump is not giving up on greenland story, joining us now greg steube and robert oh, brian. greg steube i don't want him to give up, people making fun of him, 14 greenland is an integral part of american interest.

russia is nosing around and china is roses around, what do you you think? >> 100%. i agree with you and president. there is a large deposit, i think a read a quarter of world's deposit in natural minerals and things we need for electronics and chips for military, i agree with the president 100%. the democrats are just anything that trump is for they are against. i think he is on toking something good, i think that people of greenland support it. larry: robert o'brien you could probably get it for less than 50 billion, i think you could do the deal yourself. >> i could try, we tried this in term one. didn't succeed. but, the point is, in congressman is right, you are right, greenland is part of north america, part of

homeland security of united states depends -- they depend on greenland. if danes' to keep it, god bless the danes, b b if they want to keep it they need a frigate and aircraft and troops. it is a front line state now. larry: greg steube, you don't have to actually buy it, how about an alliance? abroad scale treaty? with united states, a trade treaty? and investment treaty. that kind of thing. that gives us first call. correct me if i'm wrong, we have a military base in greenland. during world war ii we occupied greenland to keep the nazis out, at one point

harry truman tried to buy it. just h have a broad base treaty. >> i think trump is setting a ia -- discourse saying this is what we would like that opens up the trades and treaty, mr. o'brian is right this is a huge national security implication, we need to have access to that to defend against russia and china. if denmark is not willing to do it, then we should be ale do it but not for free. and there shouldin should be something for america. larry: robert o'brien, speaking of panama canal, we weren't bui'm raising the topic. i don't understand why people are so -- even at "wall street journal," i was disappointed. china could close down -- china companies and china could close down the canal if they wanted to, they own

both ends of it, they have big companies that run both ends of pacific and atlantic end, we have to revisit the panama canal story, don't we? >> absolutely. you made this point, people make fun of president trump, president trump is concerned about homeland about north america, and our security, greenland is our security to north. and south, panama canal, 70% of shipping that goes to u.s. ports to and from goes through the canal, we built the canal and ran it for many years, we turned to panamanians, terrific act of generosity by president carter, the rule is it had to day neutral. but put chinese on both ends that is not m w

neutrality. >> final point, greg steube, the biggest picture, here is mr. trump, he is the transformative, a disrupter, america first, he is putting his stamp on foreign policy right away. right away. greg steube, seems that i see pluses and no minuses for that. >> yeah as he should, previous administration was a failure with foreign affairs, having an america first president come in on day one say these are what we're working on and that we'll do, we'll put america first, and we care about the fact that chinese have both sides of panama canal, we built it and paid for it we should have an interest there. it is a strong leadership, that is type leadership we need in white house. larry: thank you, moving on congressman greg steube thank you and robert o'brien thank you. >> coming up looks like it is over for woke on wall

street, one can hope. your money will be managed without woke, is it possible. larry: we'll talk about it former federal reserve governor kevin warsh who knows a thing or 2 on sit, and remember kudlow as a podcast, episodes every weekday after the show to spotify, a apple and fox business podcast. a non-woke podcast, if you must ask. my parents worked hard for everything we had. ♪ they taught me the value of a dollar, and how to use it wisely. ♪ those lessons are forever, and today i share them with all our employees. it's why i team up with vanguard for our company's 401k plan, because everyone deserves to have someone look out for their financial well-being. ♪

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patients who have sensitive teeth but also want whiter teeth they have to make a choice one versus the other. sensodyne clinical white provides two shades whiter teeth as well as providing 24/7 sensitivity protection. patients are going to love to see sensodyne on the shelf. larry: well woke dead on wall street in is it? i don't know, we'll have my friend kevin warsh, man about town. here is headline in new york sun. j.p. morgan joins wall street banks in exodus from climate coalition, ahead of the trump presidency.

joj.p. morgan, mo morgan stanley, citigroup, and i could add black rock today, staying away from climate change woke and zero -- zero net something or other. now you are on the street, at least on occasion. >> it sure sounds like elections matter. >> perfect. >> there might be a two-way door on climate group that is good news. they flocked together, but after election two way door they have decided they will make their own interests policies, not first multilateral organization created whose interests are not in alignment with interest of members, glad to see independent ceos making their own decisions. larry: there were reports, that they were debanking

people. if they found out such people were not involved in d.e.i. or climate change or netzero emissions and whatnot. that pure insanity. illegal and unconstitutional. >> it a dangerous story. it probably true. if you and i learned anything as conservatives we learned conservatism is a resistance to wims, these people may have acted too whimsical. the tides have reversed, good for accountability. larry: 100 down, 100 up. federal reserve cut the short-term target rate by 100 basis points, but unfortunately for their dreams and wishes, the long-term 10 year bellwether treasury bond on wall street went up by 100 basis points, signaling to the to stop

your reinflating. >> markets are telling them, you are making the a big mistake. this is worst bond performance in a rate cutting cycle since 1960s. they did it in september, and bond market did not like it mortgages are a full percentage point more expensive than when they started cutting rate, this erodes their credibility, and the treat telling them they are not sure they have confidence. this is after keeping rates at 0, when inflation of 9%, they cannot compound the errors, i suggest they take a time out, step back and revisit their conduct of monetary policy. larry: is this saga a big vote of no confident are in j. powell. >> i am afraid it is, it is bad news for the institution we care bpu about, the purpose of cuts rates to cut

rates, bond yields becobecome more expensive, the bond market saying they figured out that trump administration is inher it it -- inheriting a fiscal mess. -- that looks low, interest rates are 4.7%. this is pad n bad news for tax bill we care about. larry: it is. so speaking of funding. the great lawrence lindsey. wrote a news letter on this, if you put 10% tariff universal, europe has 20% vat, that is the same idea. 10% tariff, follow me, 5

trillion dollars of importing yearly, 10% yield that is about 500 billion in additional revenues that help finance tax cuts and border money toy it deport criminals, wall street keeps saying it is inflationary, i don't see why. >> i agree with you, we don't have a revenue problem. let's begin with that, budget gnomes during tax proposal will tells us that we, to i would rather have a 10% universal tariff than god forbid raise corporate tax rates, if this will give us space for further rate cut of corporate rate, and individual rate it would be very good. idea that tariffs will be inflationary is bad math and bad economics, this is a one time change in prices if is not a large one time

change. part because of larry's math. the good side of the economy is less than 1/6 of the economy, there are other economic policies that president will push, ay deregulatory agenda, which is disinflation nit, net this. larry: extending tax cuts, produce more goods. supply side policies are counter inflationary. >> you are right. i was troubled to read fed minutes that came out yesterday afternoon, i read them so you don't have to a troubling se section participants around table are worried about the president's new tariffs this is bad economics and it looks like they are trying to put burden of inflation on someone

someone else, it is up to the fed. larry: chris waller is only one who said they were noninflation year, reading fed minutes is hazardous to your health. it needs a reform. >> the fed should stay out of political the business, if they weigh in, they are tempted by it, they should not just look at one part of the president's proposal they should look at whole thing. larry: kevin w warsh. thank you, buddy. >> joining us charlie hurt. and byron york. and also a fox news contributor, you are great, happy new year, byron, the bidens on the way out. on the way out, the last vestiges of weaponization and lawfare and jack smith,

and merrick garland. i can't read it in the morning it is either too compcomical or aws awful or stupid, don't they know they have been voted out of office. >> you may want to skip news reports tomorrow when donald trump is scheduled to be sentence in manhattan alvin bragg case, the last gasp, we know judge merchan wants to do this for symbolic reincreasons, there is no sentence he could enforce. the final act, in this act of lawfare, the president will begin appealing it, after that. but, you know, i think what is extraordinary, this appapplies to law ma lawfare, we have

seen a change in last 5 weeks, a lot of excesses of wokeness and anti-trump have been fading a little bit, maybe they will come back in full string, i don't know. but they have been fading for last 5 weeks. >> you know, charlie hurt, go to this donald trump, putting his or beginning to put his stamp on american foreign policy, influencing the world, and world responding. government call he trolls justin trudeau in 20 minutes late here is out the door. right. retired. that thing. and you still have the ankle biters and left wing nitpickers going after trump with weaponization, i don't get it the rest of the voting public rejected it. >> do you have a clip to show or can i just respond. larry: i want you to tara, way at it. -- just tear away.

>> you know. as bad as reading fed minutes, is for your health, all of this is so good for your health, and i think byron is right. you can't look at this just as today or this week or anything. you have to back up, i would say back up a year or two, and look at how far donald trump has moved the ball from what people thought of the possible a year ago or two or four, to what it is now. he has concurred wo world and brought the world into his view of things into the palm of his hands, he has a massive agenda, he will need congress to help with a lot of stuff, i hope, i don't want a bunch of executive order, i want actual stuff to be done to be fixed. and to do, that when you move the ball as far as he has, suddenly, you will

start to see a crumbling of resistance. and a -- whatever hesitant republicans there are, are now gone, they will to do heavy lifting on other side of pennsylvania avenue to get his agenda through, i think it is great agenda, vast majority of americans approve. larry: democrats insist on burying themselves, byron, they will, this is that simple. one last quick one. nominations, what is your outlook on the trump noms? january 20th they could start soon ir sooner. >> we have seen things moving in trump's directed in last hour on capitol hill with passage on closure of laken riley bill, 84 votes in u.s. senate that looks good for trump. nominations, there will be a lot of questions, for rfc jr. and tulsi gabbard and pete hegseth. but right now, i don't think that anyone is betting

against them on capitol hill. and remember those are three out of a ton of nominations, we're not hearing anything about those that means they will be passed. >> thank you, happy new year you to, charlie hurt and byron york. >> coming up. very best washington watch or wall street for dan clifton what he thinking about fate of one big beautiful bill. i'm kudlow, how about my fate? i'm here. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is

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larry: joining us now we welcome dan clifton. partner, head of policy research, wall street best washington watcher, dan welcome back. i'm trying to get this straight. it sounds like with respect to mr. trump's meeting, with the republican senators, that mr. trump did convince them about one big beautiful bill. and the john thune agreed but they will wait and see. if it gets bog don down they might split it off, i want to know if you are reading is any different? >> i still think we're going with one big bill, house will lead this operation.

and they have to get a budget through first to open that recon process, you take it as you go along, nobody party has been able to get two reconciliation bills done in one year, since 2005. i was part of that coalition at the time it was hard. and we're in a more divided government this time. and democrat tried this in 2021, they got their first bill threw, they didn't get their next through for m -- 15 months, i don't believe that tax cuts can wait, at end of day i believe it is one big bill, i am sympathetic to the idea, the executive order at beginning on immigration and lng exports will be important, in the meeting yesterday president outlined he has a hundred executive orders coming it should be go the to get agenda through to give them time to get one big beautiful pro-growth tax

and economic policy bill through congress. larry: focus -- energy production is key part of mr. trump's policy and mandate, reopen spigots, you will get a lot a lot executive order on that for pe permitting, you mention it trump is able to get cease-fire or peace deal on tail in part -- table with respect to russia and ukraine, you could throw in mostmiddle east most as well, so-called war premium would come out of war prices. you still thinking that? >> yes, let's take one step back, i think big event this week was fed trying to blame trump's economic policies for causing inflation, and there are fem getting more

hawkish. you take price of oil down the fitte fed will be wrong again like they were in 2018. this is really important. if you get oil prices down. you get interest rates down. you get your debt servicing costs down. all of a sudden everything else gets better. how do you do that? more offshore drills more onshore here you also end the wars in middle east and europe, and take the war premium out, i think a key issue will be whether the president getting a deal where you see israel and sa saudi arabia normalize relation overtime that would be important for oil prices, you get a cease-fire in ukraine and russia you take more out, you put that together that is 10 or 15 out of the price of oil that a hugely pro growth event, second thing to bring up, that biden put emissions test requirement on

liquefied natural gas experts, president will get rid of that right away, you will see massive capax in build building out the lng export fundament, on supply side more investment, inflation down on oil, that is key to prosperity, too many people in washington looking at tariffs and other stuff, over exaggerating them and coming to conclusion that trump is the inflation president. if trump executes there will be a lot of people with mud on their face. larry: just last 60s, you are only one talking about the war premium coming down. i think that great. trump along talked about stepping up energy production as a way of getting energy prices oil prices permeate the economy, you of get them down, 10 bucks or 12, it has a huge impact, dan clifton terrific stuff, can't thank you enough for coming back on, i'll be right book with my

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