tv Kudlow FOX Business February 25, 2025 4:00pm-5:00pm EST
4:00 pm
3.9% range, right? that is helping consumers get into those houses as long as we kind of still have a decent labor market. liz: you know, rob, we're getting nvidia earnings tomorrow after the bell. it's a big deal. people are saying it is a massive day. it sets the tone for all of tech the after the bell, and then we'll see what happens thursday when we have jensen huang. but about 15 seconds here, what are you looking for in do you till like tech in. >> i think that'll be a great interview, and i think, yes, we still see goods things for tech in the long run. without it, we don't have innovation in this economy and, ultimately, the growth rates and investment are still there. liz: rob hayworth, so appreciative that you stopped by with the the claman countdown." here we go. we do have a mixed picture still, but watch tomorrow. again, a very big day ahead of earnings and even bigger on thursday. see you then. ♪ david: hello, everyone, and welcome to a special edition of
4:01 pm
"kudlow." i'm david asman in for larry cu. an economic deal between the u.s. and ukraine could be signed very soon hoping to recoup billions of taxpayer dollars that the biden administration spent on ukraine. the president also continues kind of teasing an upcoming meeting with president, russian president vladimir putin to secure some kind of peace if deal. and to no surprise surprise at all, the globalist establishment is melting down over all of this. ben domenech and steve forbes are going to be weighing in on that in just a moment. plus, montana senator tim sheehy on trump, elon musk and pete hegseth shaking up the pentagon. but first, our very own edward lawrence is live from the white house with all of this stuff that's going on there. [laughter] there's quite a bit of it, edward. >> reporter: quite a bit. and within the last few minutes or so, reuters is now reporting that the u.s. and ukraine have agreed to terms related to a
4:02 pm
mineral deal, a joint venture, economic partnership and that reuters, according to reuters, president zelenskyy from ukraine is coming here to the united states to sign this deal with president donald trump. we'll have to see if that is true. when i was many kyiv, i can tell you president volodymyr zelenskyy of ukraine was looking for specifically wanted guarantees over security. i was first there with the treasury secretary, scott bessent. that's when he first delivered the plan to this. however, it was also a said he wanted more weapons as well as security guarantees, and that's not being attached to this agreement. still, the white house saying it's a win-win. >> this is to recoup american tax dollars that have been funding ukraine with's national defense, and it's also great for the ukrainian people who have been put through hell because of this war with. and it will create a lasting economic partnership as a ukraine will need to rebuild their country because of this brutal a war. >> reporter: now, the trump administration argues that the best way for security would be
4:03 pm
for russia to see that the u.s. has a vested interest in ukraine. that would be needed to be protected. some european allies say this insures long-term commitment to democracy in ukraine by the united states. still, french president macron says it would be european troops that would be a peace-keeping force, not american soldiers. the oval office, president trump said he had discussions about a major economic development transactions with russia. listen. >> we're trying to do some economic development deals. they have a lot of things that we want, and we'll see. i mean, i don't know if that that will come to fruition, but we'd love to be able to do that if we could. you know, they have massive rare earth. >> reporter: it's important to remember that russia's under severe sanctions from the united states for this invasion, so that's unclear how that's going to happen. but, again, reuters is now reporting there's been an agreement in fellow. nothing has been signed -- in principle. nothing has been signed, but an agreement over the terms of the deal between the u.s. and
4:04 pm
ukraine according to reuters. back to you. david: things are move being fast. edward lawrence, thank you very much for that. meanwhile, it's down to the wire for the house vote on one big, beautiful bill. let's head over to capitol hill where fox news' aishah has thatny is live with the latest on the trump tax cuts. >> reporter: hey, david. they are going to be trying to vote on this budget resolution tonight which will unlock the big, beautiful bill, basically all a of trump's policies. it's a framework really, it's not the actual bill, but it is a key and very important vote. right now there is about 3-4 republican nos and many, many undecided folks, which means that this is going to tank if it actually coming up for a vote. i can tell you right now that there are absolutely no democrats that are going to help republicans out tonight. in fact, house democrats were protesting outside the capitol today. republicans want to extend the 2017 trump tax cuts while also a cutting $2 trillion in spending, and democrats are alleging that they're going to do this by
4:05 pm
slashing medicaid. if. >> looks like it's all going to have to come almost all from medicaid and obama withcare. obamacare. and that's taking health services away9 from the public. in my district it's around 50% of kids who get medicaid assistance. >> the word med said is not even this bill. this bill doesn't even mention the word medicaid a single time. >> reporter: now, democrats are also ripping the trump tax cuts, and they're saying that these are only going to benefit billionaires, but the nonpartisan tax policy center state that all a income levels would pay less if these tax cuts were extended. now, speaker johnson says we may, may not have a vote tonight, depends on if he can wrangle both the mod rates and the fiscal -- moderates and the fiscal hawks, if he can get everybody onboard. they've been talking with president trump not only today, but for a while. we'll see if the trump fact if to have will mean that they can
4:06 pm
get going on his big, beautiful bill. david? david: the trump factor has lot of power behind9. aishah, thank you very much. we'll have more on the story, by the way, with house majority leader steve scalise later in the show. joining me now to dig deep on all of this is ben domenech, editor at large at the spectator, world and fox news contributor, and steve forbes, "forbes" media a chairman and editor-in-chief. good to see you, gentlemen. ben, first to you. two hours, we're supposed to get this vote. this morning it looked very bad. apparently, donald trump has been on the phone all day with some of the recalcitrant republicans. what are you hearing in. >> what i'm hearing, frankly, is more of the same in terms of the frustrations of a lot of these fiscal hawks who within if house have tried to work over the years to get anything in terms of the kinds of cuts to government that we've seen them try and fight for in the past. but as you know, this is a situation where a sclerotic congress that is incapable of
4:07 pm
dealing with the budget resolutions in any kind of normal order without these kind of big bills that have to punt everything to avoid making any if tough decisions, that's what brought us to the point where we have this, you know, who let the doge out period of this current presidential tenure. which is the only way to cut now is apparently to work through the executive to target these probationary hires and to go after a various programs in that day -- in that way. and it's really an indictment of the way things are supposed to work. david that david steervetion i want to talk about taxes, because if we're going to grow the economy which is the only way we're going to get real money in people's pockets as to opposed to the monopoly money passed out during biden, we've got to extend those tax cuts. if we don't by the end of this year, we're going to have a huge tax hike. >> and a very nice recession going into the midterm election- david: which means republicans would lose the house and the senate and have a lame duck for donald trump's second two years. >> and the 2017 tax cuts include
4:08 pm
an instant writeoff of investments phased out over several years, now down to zero. businesses are wondering, is that going to be included in this new tax bill? if it isn't, you're going to see real cap-x spending devastated in this country, and companies need a decision now. they're starting to plan for the future. that's why they cannot continue to punt on this thing. and and also in terms of the tax cuts themselves, know this is just a framework, but they've got to get imaginative and reduce income tax rates especially for middle income people. the big thing for the blue states, s.a.l.t., 22, 24% tax brackets. you reduce those down to 15, they get a tax cut without even raising the deduction. so that's the kind of -- and capital gains. what's their allergy to capital gains? instantly raise revenue. so let's get through this first step. but if they don't get a nice big, beautiful tax bill soon, we're going to be in trouble -- >> and just to steve's point, do
4:09 pm
not sort of escape the notion that these democrats are doing something on behalf of the people that they're claiming to be working for. they're doing this entirely because they believe that if this just sinks in the water, if this sinks in the swamp, then they will be advantaged when it comes to the midterms that you mentioned. they are doing this for aggressively -- david: pure if selfishness. >> pure political self-interestd surprise, surprise. [laughter] we're used to it by now, but don't have nil pollutions that they're representing the -- ill laotians that they're representing the people -- illusions. david: steve, how can these republicans who have been very vocal about all of this, the how can they get a deal with texans and floridians who say, look, i don't want to pay for bad taxing in new york and california? >> you do it by reducing tax rates. so that way on the federal level that means if you earn more, you
4:10 pm
have the incentive to earn more instead of a deduction. it's one thing to take away, david, the s.a.l.t. deduction, but they forgot the over half which is slashing tax rates so you don't have this constant pressure of trying to get rid of the thing. instead of raising the the number they're talking about, cut the tax rates, especially the middle income ones so they can't say it's for the rich. cut it to 15 and don't care what the cbo -- the cbo is not in the constitution, republicans don't have to pay attention to it and shouldn't. david: what about a plan -- [laughter] what about a plan b which ron johnson's talked about in the senate saying we're not going to open up another can of worms, we're going to focus on just extending the tax cuts that exist right now and get into all the other stuff a little later? >> look, i think that that idea has its day. it was argued behind the scenes quite a lot. but the president decided on this course, and, look, what donald trump wants to do when it comes to the tactics of the republican party, that is the
4:11 pm
marching orders x. it's been true across the board in these opening days. and, look, i think this is really important not just for the midterms that we discussed, but to make sure that you have a firm foundation going forward for this presidency. he has a limited window here to get so many different as aspects of policy done. it's a very ambitious agenda. and getting this taken care of in a quick and smooth way is something that is a challenge for this current house leadership, but they're going to have to meet it in order to deliver. david: we'll talk about challenges, i want to switch to foreign issue for a second, steve. the news that there may be a deal between zelenskyy and the united states on the minerals deal, getting some payback for u.s. taxpayers who have poured in hundreds of billions of dollars in ukraine. do you see any sign of light at the end of the ukrainian tunnel? if. >> well, the key is going to be in the details on that mineral agreement, for example. 60 percent of ukraine's minerals are now in russian-occupied territory. how are they dealing with that?
4:12 pm
get a mineral deal done, but then the big question which everyone rightly raises, how do you guarantee ukrainian independent sovereignty with a deal. that's going to the require, sadly, boots on the ground from the europeans, trip wire. and also, i think, it's ultimately going to have the united states having a big base in poland if where something goes wrong, we can immediately respond. one thing i hope they'll go, especially the europeans will relent on, is using the $300 billion of frozen assets from the russians and use that for reconstruction and paying going forward. to $300 billion. tart putting that to -- david: by the way, very quickly, you mentioned increase of forces in poland. for decades now going back to the cold war we've had tens of thousands of troops in germany. is it time to move them from germany -- >> yes. should have been done years ago. poland is the center of europe. >> just one more quick point. the fact of the matter is that europe has fallen so far behind when it comes to to maintaining
4:13 pm
their defense posture, i don't think people truly understand how much they have is shrunk their forces. the entire royal navy of the united kingdom could not fill the stadium, annapolis at the naval academy in america. think about that for a second is. they once were -- ruled the seas, and now they have nothing approaching even 30,000 members of the royal navy. that's something that has to change. we have to have these european nations stand up, rebuild their own defense forces in order the to have the kind of guard against exactly the kind of incursion that you're -- >> and we should use finland and sweden and poland and the baltic states which are, in effect, the front lines of russia as the head of the spear. they know what the threat is, they're building their military. and then bring the french and british along. david: you know, this leads to the meltdown of the euros that are in power right now. >> yes. david: they might not be in power much longer the way things are going. we saw their man -- german
4:14 pm
elections, all kinds of pushback on their immigration policies, the green energy that hasn't banded out for them. so, i mean, how long can we wait for them to change before we can make a deal? >> this whole moment is an indictment of the eurocrat agenda -- david: exactly. i would say the socialist eurocrat. >> yes. and that's something, to me, is long overdue but very healthy. i think voters are demanding change. but those changes need to happen more rapidly because there is too much -- >> and you know how it's going to happen? if the u.s. succeeds. this is when reagan succeeded, 50 countries cut their tax rates. they never would have done it without his lead. if america gets it right, europe will be -- >> leadership matters. >> yes. >> it sends a signal throughout the world. you are completely right. the truth is i think there is a cascade effect from what's been going on. and i have to say i'm so impressed with particularly the vice president's performance during all of this. of i think he has an understanding of in this that is
4:15 pm
truly grounded in the information that we have learnedded over the last several years that speaks to the people and to a generation of people who say we need to learn lessons from this and not just wander through things with a fangsful attitude. -- fans fanciful attitude. david: what about secretary rubio? e eleven key said he wanted -- zelenskyy said he wanted access to nuclear weapons, rubio pushed back right away and said we need fewer nuclear weapons in the world, not more. there was also the u.n. decision, you know, there was that vote, a lot of neo-conservatives are pushed back on that saying because, essentially, trump said no to the idea of giving zelenskyy more rope in the fight. and they wanted to, they wanted to condemn russia, and the u.s. didn't want to condemn russia as being part of the invasion in the first place. where -- what about institutions like the u.n.? do we have -- is it time to depart from those institutions? >> you ignore the u.n. and i believe we have given
4:16 pm
russia a pass on that. they were bad in 2022, very bad in history. but the key thing is going forward how do you make sure you get a durable deal. and in terms of what zelenskyy's doing, i think he's trying to put something big on the table to negotiate. remember, ukraine had nuclear weapons til 1994. they gave them up when the u.s. and the brits guaranteed we'd come to their aid if russia went after them. obviously, that never happened, so so they felt betrayed. i think that was a negotiating tack just as the invasion of the kursk region in russia was a bargaining chip to go and decide how new lines are going to be drawn in ukraine. david: ben, were you worried when you saw that u.n. vote that this administration might be patronizing russia in some way? >> i don't think so. i think that the president understands what is important and what isn't when it comes to negotiations. i think we've seen it happen time and again. he understands when to use
4:17 pm
carrots and when to use sticks. and i think this is a situation where, as steve said, there are different negotiation or tactics that you're going to have to use during the course of this. but from my perspective, you know, cats the -- the ca at the totizing a we are hearing from some of the democratic elements is just completely at a odds with what we've seen at this point which is a lot of smart people, i think, he's brought into the administration. david: we've got two of them right here on the set here. [laughter] and, by the way, can we do that? this is the new speck if today to have magazine or, or it's wonderful. the first money i ever got in -- >> i appreciated that. david: -- about 20 years old for a week review. >> i'll have to look up the review. david: thank you very much, gentlemen. coming up, president trump and doge are shaking up the pentagon and refocusing our troops on war fighting, not dei. how do we beef up our military while cutting out the waste? we're going to be the asking montana senator and former navy
4:18 pm
seal tim sheehy when "kudlow" continues. ♪ if you're like most americans, the concern about not having enough money to retire the way you want to. or worse yet, running low on money during your retirement is a genuine concern. safe money iq is dedicated to helping you retire forever. and best yet, we don't charge a fee to show you how to get there. go to safe money iq.com. if you're interested in retiring forever, safemoneyiq.com. your path to retiring forever. only servicenow connects every corner of your business, putting ai to work for people. pfft ... every corner? every corner, nick. ow! so kate in hr ... hey kate! ... can focus on people, not process. patty in it is using ai agents to deal with the small stuff, so she can work on the big stuff. and ai helps jim solve customer problems
4:19 pm
before they're problems. oh. so we all work better, together! my work here is done. excuse me, which way back? baby: liberty! mom: liberty mutual is all she talks about since we saved hundreds by bundling our home and auto insurance. biberty: it's pronounced "biberty." baby: liberty! biberty: biberty! baby: liberty! biberty: nice try, kid. only pay for what you need ♪ liberty. liberty. liberty. ♪ baby: liberty. 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. you might know harbor freight for affordability. you might not know performance and durability
4:20 pm
go along with it. we test. and then we test again. now it's time to put us to the test. whatever you do, do it for less at harbor freight. (♪) (morgan) we're all looking for someplace to call home. but first, you need a place to look for a place to call home. and that's homes-dot-com. because it's the best. (lawyer) i told you, you cannot legally say homes-dot-com is the best! (luke) what if she says it, as morgan freeman? (marci) homes-dot—hold on, i can get this. homes-dot-com. (lawyer) no. (luke) well, how can we not say it... if that's our new name?! (lawyer) i give up. (luke) homes-dot-com-is-the- best-dot-com. (♪) at enterprise mobility, our experts always see another road. because when there's no limit to how far mobility can go, there's no limit to how far businesses can go. (♪)
4:22 pm
you think those phone guys will ever figure out how to keep 5g home internet from slowing down during peak hours? their customers have to share a wireless signal with everyone in their area. oooh. you know, it's kinda like when you bring a really big cake for your birthday, and then there's only a little, tiny sliver left for the birthday girl. aw. well, wish her a happy birthday. happy birthday... -it's... ...to her. -no, it's me. have your cake and eat it, too. don't settle for t-mobile or verizon 5g home internet. get super fast xfinity internet you don't have to share. forty's going to be my year. david: well, the democrats continuing harangue against
4:23 pm
trump and doge rain musk seem to be falling on deaf ears as public support for the work they're doing appeared to be unshaken. meanwhile, doge's work continues, and the pentagon is doge's next target. so is what waste and fraud can we expect president trump and elon musk the uncover in the pentagon? joining us now is montana senator and former navy seal tim sheehy. senator, great to see you. thank you for being here. before we get into the pentagon, i just have to play something for you. this is sound is from senator murphy, chris murphy from, democrat from connecticut, about what's happening with doge. i just want to play this and get your reaction. roll tape. >> this whole thing is a fraud, right? it's a con. it's a grift. right? from the very start, the trump administration has been about one thing can and one thing only, stealing from all of us, stealing from regular people, stealing from poor people,
4:24 pm
stealing from the middle class in order to enrich their billionaire mar-a-lago cabal. david: senator, after all of the stuff, and i want to use another word but i can't on tv, after all the stuff that doge and musk have uncovered about waste and just outright fraud and theft coming from the federal government for years and decades, in fact, he's talking about doge doing the stealing. do you think anybody buys that? >> well, you want to find grift, look no further than usaid and and where that money was going. you want to find grift? look at the $40 million a week we've been sending to the taliban. hard-earned money and handing it to terrorist groups that want do kill us. if you want to talk about grift and fraud and theft, i think we've already seen a list exposed by elon musk and his team that's showing exactly where it's going and, guess what? it is not going to mar-a-lago billionaire ifs. i actually walked by chris today
4:25 pm
while he was holding that press conference and couldn't help but chuckle. we've seen four years of grift and theft from the american people, and the worst theft of all a, david, as you all know, is inflation. and when the government's printing money and driving up the cost of everything in life, that's taking money out of the pockets of hard working american families. david: it's not the past four's -- four years, it's been going on for decades particularly when you're talking about institutions like usaid, etc. for all of their screaming spin accuracies, the public just count seem to be buying it -- doesn't seem to be buying it. trump's approval rating is 9 points above water, way higher than anybody else. and look at these individual categories. independents, women, hispanics, asians, sub bar banites, all of the weak spots, he's above water on all of those individual counts. so are they just speaking to deaf ears, the democrats who are making a big scene about all this?
4:26 pm
>> i think they're in disarray, david. i think they're still trying to find a message. november 5th was very clear. we won across the board, and the election rhetoric was put them in jail, we're fascists, racists, liars, it was all about a character assassination and trying to convince the american people to not believe what a they were seeing with their own eyes. and our message was a message about common sense. it's about to make common sense common again in america. people are tired of looking at expensive gasoline are, not being able to afford their groceries, they're tired of the crime from an open border, and what they're seeing and feeling in their families and and on the streets is not good. and what they're seeing from president trump's administration and from his support here in the senate and the house is common sense policies that are going to to bring down grocery price, bring down gas prices and make their streets safe again. and no amount of flailing on the capitol to tens and no amount of post pers on the senate floor are going to take away the fact that americans understand what's happening to their economy. s
4:27 pm
they understand what's happening to the streets. they're tired of it. they want it to be fixed, and they're seeing warp speed transformation of the u.s. government the likes of which we vent seen in generations -- david: yeah, but it's the very simple. you want to bring down prices, you bring down the cost of government. spending money you don't have to pay for stuff we don't need is what's causing inflation. that's how the circle works. >> yes. that's what milton friedman said, the most important number in economics is what the government is spending, what share of the economy is the government spending. and as you correctly pointed out just a few moments ago,s for decades we have seen that numbeo the right. and it's about time we apply some common sense and financial metrics back to our economy. unfortunately, what that means is some severe inward-looking reflection out of what parts of our government are working and what parts are not working and how do we make the parts that are not working or work better for the american people.
4:28 pm
the american government, if it was a business, would have one star on yelp because the customer is not happy with the results they're getting, and they want it fixed. david: senator, as for the pentagon, the president believes, as i think you do, in peace through strength. anybody who's been to war knows you don't want to do that again. but we have a lot of waste in the pentagon itself. how do you build up a stronger military and separate the wheat from the chaff? continue to fund and fund new projects for a strong future but cut back on what's not working? if. >> well, i could talk about this for an hour, david, but i'll try to keep it simple. the most important thing in any organization is an obsession with the mission. and the mission, the mission of the dod so to close width and kill the enemy in the e event of war. that's their job. and in the absence of that, deter war through strength. we had a great hearing today with the deputy secretary of defense, and the one thing i hope he does and will do is reorient our defense
4:29 pm
acquisitions system around the end user. the customer is not bureaucrats in the pentagon, it's the lance corporal, the sergeant and the captain on the front lines fighting the enemy. and that's been lost in our military acquisition system. former secretary robert gates had a fantastic problem where he built m-rap vehicles, saved my life, and he acquired those through a non-standard acquisition system because if he went through the normal route, it never would have happened. we shouldn't have the go around a system that a doesn't work to get our troops what they need. it's time to deconstruct that failed system is, for the pentagon to pass an audit, put the war fighter first and have common sense rule at the pentagon. listen, c.w. brown has been let go. a great career. he followed orders. president biden said he wanted climate change and dei policies at the top of his list, general brown carried that out. now we have a new sheriff in town, and and he has the right to build the team that's going to to prioritize his priorities, and those are readiness to fight
4:30 pm
a war. david: the row hanging fruit in the pentagon is the dei programs and, you know, the $1,000 screws, that sort of thing. but there are these outdated legacy systems, billion dollar military systems in congressional districts where they've got really their claws in the, in congress to continue to keep up systems that have become outdated. how do you get rid of them? very quickly. >> the specification cans process is outdated. the specifications are written, it takes years to overengineer a system is. it's about time we buy things commercial, off the shelf that'll be ready for the war fighter faster and most importantly, renovations cycle much tighter and get the war fighter what they need. graved david great stuff the. senator, really appreciate it. coming up, can speaker johnson get house republicans onboard for one big, beautiful bill in tonight's vote? house majority leader steve scalise, he should know, he's up next. ♪
4:31 pm
new to the big city? yeah. -i'm mara. -hi. apparently progressive lets homeowners and renters bundle with their auto policy. 24/7 protection for all of my...things. [ scary music playing ] [ gasps ] hey, i love that you protect all my stuff, but could you tone down the creepiness? sorry. i'd do anything for you, emily. -still creepy. -right. there are many ways to do things. at old dominion freight line, we do them this way. this way has people who start early. people who care and inspire each other to do things the way they should be done. this way uses technology (♪) and goes the extra mile
4:32 pm
(♪) to deliver your promises on-time, every time. this way is why we're the number one national ltl carrier for quality. for us, this way is the right way which is why it's the only way we go. if you're living with dry amd, you may be at risk for developing geographic atrophy, or ga. ga can be unpredictable—and progress rapidly—leading to irreversible vision loss. now there's something you can do to... ♪ ( slow. it. down.) ♪ ♪ ( get it goin' slower.)♪
4:33 pm
ask your doctor about izervay. ♪ (i. zer. vay.) ♪ ♪ ( gets ga goin' slower.) ♪ izervay is an eye injection. don't take it if you have an infection or active swelling in or around your eye. izervay can cause eye infection, retinal detachment, or increased risk of wet amd. izervay may temporarily increase eye pressure. do not drive or use machinery until vision has recovered after an eye injection or exam. izervay is proven to slow ga progression, which may help preserve vision longer. ♪ ( i. zer. vay.) ♪ ♪ (gets ga goin' slower.) ♪ so shift gears and get going. don't delay. ask your doctor about izervay. todd takes prevagen for his brain and this is his story. hi, i'm todd. i'm a veteran of 23 years. i served three overseas tours. i love to give back to the community. i saw a prevagen commercial and i did some research on it. i started taking prevagen about three years ago.
4:34 pm
i've told my coworkers and family, since taking prevagen, how much of a difference it's made in my life. i feel really good. prevagen. for your brain. i know how to make slick-looking goggle-slash-glasses. but i have no idea how to make slick-looking social media stuff. but godaddy airo uses ai to create social content outta thin air, like this one. “walton goggins goggle glasses are great gifts for all guys and gals.” ♪ ♪ ("born to be wild" by steppenwolf) ♪ ♪ get your motor runnin'! ♪ (car horns blare) come on! ♪ head out on the highway! ♪ crowd: hey! hey! hey! b-12. bingo! (buttons snap) (inhaling furiously) (explosion)
4:35 pm
4:36 pm
david: house speaker mike johnson has a planned a vote in just a couple of hours, less than that even, for president trump's one big, beautiful bill that includes the tax extension that that trump campaigned on. will he get it? joining me now is house majority if leader steve scalise of the great state of louisiana. great to see you. thank you for being here, leader. i just have to ask because, obviously, speakers don't put a bill up if they know it's going to fail. this morning it looked as though it was going to fail. you had four g to op defections, four gop members that didn't look like they were going to vote for it. since then i understand donald trump has been talking to some of those. is it possible that you could get the votes now? has the president turned those four members or at least three of them around? >> david, a lot of us are still having those conversations. and, look, i mean, i've been here before where we have big
4:37 pm
bills. when you're bringing a big bill to the floor, you're having conversations with those members that are on the fence all the way up until the vote's closed, you know? if not just when it's opened. i've had a times when i was on the floor during the vote with one final member just trying to resolve some issues, answer questions and, ultimately, get those issues resolved and hopefully get a yes vote. here we have an incredibly narrow majority as everybody knows in the house, so just two people going to no could kill the bill. so, you know, it's been all hands on deck. we're having a lot of conversations. for weeks and weeks we've been doing that. last night we had a member with about 15 of the our members of. at the end of that meeting with the speaker, myself, we were able to get all of those members to yes. then we narrowed it down to a handful, less than a handful, and we've been working through that all day meeting with those members one-on-one. that's' going to continue through the vote. david: but this is such a unique circumstance is. i mean, the president -- this
4:38 pm
bill more than, i would say more than anything else, is what donald trump campaigned on. i mean, he campaigned on a lot of different things, but specifically on turning the economy around. and if you don't get this bill passed, i mean, steve moore came out with a list of the various things that would change if you don't get it passed before it expires at the end of the year. one, standard deduction falls from 30,000 to 16,000. the top individual tax rate will go up from 37 to 39.6%. child tax credit falls from 2,000 to 1,000. small business tax goes up 25%. the death tax doubles. and unlike what the democrats will tell you about this just benefiting the rich, the richest americans would get a massiveive s.a.l.t. deduction. so, i mean, it would be catastrophic. is it too much to say that, if you don't get it by the end of the year? >> it's not an overstatement to say that, david.
4:39 pm
and, in fact, you know, stephen moore's a brilliant, great economist. i've worked with him on a lot of things. there's one item he left off that list, and that is for every small business in america. you know, part of the trump tax cuts in 2017 that we're trying to renew -- these aren't cuts, by the way, these are maintaining the rates that are currently in place. by the end of the year, some of them expire which means taxes will go up. democrats want to tax the middle class. it's not the rich, it's not, you know, the billionaires and the millionaires they love talking about. it's going to be the middle class that get hit with that income tax -- david can david absolutely. >> there's a tax increase that's coming called 199a. what it means to every small business in america is the ability to compete with large multi-national corporations. so if we do nothing, the large multi-nationals keep the 21% if corporate rate, but every small business in america will jump to the 43% effective rate.
4:40 pm
can you imagine that? you're a mom and pop, 20 the-person shop on main street, and you're barely competing right now with the big multibillion dollar, globalist company, you're going to jump to a more than double tax rate than that company. and that's not the billionaire, that's the small mom and pop shop that's going to go to 43% when your competitor's at 21? that will crush small businesses in america. that's not even listed, and that's yet one more tax -- david: and individuals. congressman -- >> individuals. david: -- "the new york times," of all publications in the world, came out with a headline a few years ago back just after the 2017 cut kicked in saying you may not want to hear it, but 65% of all taxpayers got a tax deduction. that means that at least 65% of americans of voting americans will see their taxes go up -- >> right. over 140 million families making
4:41 pm
less than a million dollars, by the way, over 140 million of those families will see a tax increase if this bill fails. david: yeah. >> and every democrat's voting no. again, they want middle class taxes to go up. don't believe their lies about the rich, the millionaires, billionaires. look, trump wants to get rid of the tax on tips. david: that's not billionaires. >> elon musk does not work for tips. david: right. >> the average pay of a tip worker is $3 2,000 a year. and there's millions of them. and we want to help those families. the democrat party is saying no to them. they want those the families, 32,000 a year, the pay higher taxes. that's what's at stake -- david: it's not just the democrats. you do have these blue state republicans -- >> we've got smaller than a handful. david: no, but you don't have a margin of error here. >> no, we don't. david: senator johnson has come up with an idea that wouldn't please everybody and it's not what the president really wants,
4:42 pm
but sort of a plan b. i just want the play senator johnson about what he thinks may be done that could at least prevent the taxes from going up at the end of the year. roll tape. >> i'd be happy to just extend current, the current tax code to make sure we take a massive automatic tax increase off the a table and then start working on what is far more complex, you know, no tax on tips, those types of things. that's just a far more complex package to put together. david: what about that? at least get something done -- down on paper passed that a extends the current code for another couple of years. >> yeah, the problem with that -- again, it all a sounds great, it's basically the same bill we're passing today. if the people that vote against it today to, it's the aim people that are going to vote against just keeping current tax law. it doesn't cost much more to extend no tax on tips. keeping the current law is what's expensive according to, by the way, to the referees up
4:43 pm
here, the congressional budget office. i think most americans would say if today i'm paying 21%, tomorrow if i'm paying 21%, why does it cost the government money? they're still getting the same amount from me. david: right. >> but the bureaucrats up here, they say the only way you can keep the 21% rate at 21 21 is if you offset it with cuts of billions and trillions of dollars. david: yeah, it's crazy. >> we're working through all of that. you know, the bottom line question is do we want to keep the rates where we are today. that's what we're going to be voting on tonight, or do you want a $4.5 a trillion tax increase primarily on the middle class families of america. i don't want that, almost every republican says no to that. democrat party all says they want that tax hike to hit those middle class families, but they lie and use billionaires as the boogiemen. billionaires aren't going to be paying these tax hikes. david: they never do. >> 90 of them hit the middle
4:44 pm
class and working families. 90. david: yeah. and then, of course, the overtime focus as well. i want to quickly switch gears because we're running out of time, but the democratic protest against doge. we understand they're not just taking place inside the beltway now, there's this campaign to put them in various districts where congress people are in trouble. and they might turn some close districts which might turn around a and get you to lose your majority in the house. free beacon's come out with an investigation that a lot of these people are professionals; that is, they've been tutor thed by some of the groups funded by george soros operations like indivisible and moveon and stuff. what do you know about this? does this go beyond just congressmen mouthing off in front of the capitol in. >> yeah. we've seen this playbook before. some of them might be constituents in somebody's district. a lot of them are, you know, people that are just far-left
4:45 pm
activists who show up when you're trying to put more money in the pockets of taxpayers. david: right. >> they want washington to get all of your money, and they want to waste it. we all saw the $2 billion to stacy abrams' group. to do what? she literally just formed the association. they had $100 in revenue from the year before and they got a $2 billion contract with the federal government, lo and behold. was that competitively bid, david? i don't think so. david: yeah. by the way -- >> cronyism -- david: in radio, it's called payola. [laughter] it's all payola -- >> -- see that for what it is. david: thank goodness or if doge, because they pulled the curtain aside. >> it's about time we do. this. david: -- with the pandemic in our school system ising or when that curtain was pulledded aside. leader scalise -- >> another layer, and it's been needed for a long time. david: i know you're so busy and will be for the next few hours. thank you so much for taking time with us. >> failure's not an option, david. let's go get it done.
4:46 pm
thanks a lot. david: appreciate it. coming up, republican lawmakers have been trying for decades to defund left-wing propaganda the that you hear coming out of npr. claudia tenney's going to tell us about her new bill when "kudlow" continues. ♪ after careful review of medical guidance and research 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 ♪
4:48 pm
4:50 pm
our xfinity network is built for streaming all the stuff people love. how can it get any better? -i'm just spitballin' here, but, what if we offer people apple tv+, netflix and peacock? for one low monthly price. -yes. so, people could stream the shows they love. and we could call it... xfinity streamsaver! mmmmm. what about something like: streamsaver? ooooooo. -i love that. add streamsaver with apple tv+, netflix and peacock included for only $15 a month... and stream all your favorite entertainment, all in one place.
4:51 pm
david: well, for years conservatives have been complaining about taxpayer funds going to the left-leaning news operations of public radio and public t, but their hooks are in the -- public tv, but their hooks are in so deep that they've proved almost impossible to dislodge. now republican lawmakers have a new plan to cut the cord from federal tax dollars. here to tell us about her new bill is new york congresswoman ya tenny. great to see you.. -- claudia claudia tenney. explain how your new bill would work. >> first of all, as a former newspaper other than and publisher, i very much -- owner and publisher, i very much understand how important it is to get the news and the facts, but these organizations have become purveyors of advocacy and not accuracy. they're giving us a lot of propaganda, and that's why i cosponsored a bill to defund the propaganda machines that have become npr and pbs is. all this money is going in to
4:52 pm
actually promote a liberal agenda, and that is not fair to the american public. we're doing exactly what doge wants us to do. we're finding the fraud, abuse and waste in these organizations. david, i'll just give you an example. the dei director at the pbs stations makes over $400,000 a year in a government job. david: whoa. >> we don't need a dei director, nor do we need our money to pay for what has become propaganda for the left. and that's what these stations have become. david: i believe, correct me if i'm wrong, that's more than what cabinet secretary it's make. i may be wrong on that, i believe that's true. >> i think you're right. david: they always a push back and say, look, we get less than 1%, less than 1% of our funding from the federal government. we can survive without it. but what they don't tell you is that 31% of npr's revenue comes from programming fees that are paid by member stations, and those stations get about 10% of their money from the federal government. so it's all intertwined from --
4:53 pm
it starts with money coming from the federal government and weaves its way down into n npr -- npr are. >> and it's closer to 15-20%, not 1%. the other thing they also do is, you know, organizations like george soros' foundations are funding groups to actually put out propaganda to take an advocacy position, and they're not disclosing that. so if you want to turn on cnn, fox news, you know what a you're getting. you want to see what their viewpoint is. and in many cases, you're going to get very much a level playing field. with this, this is our money. that's the different thing. when you're using our taxpayer dollars where 67 or 70% of their audience now are people that describe themselves as liberal or very liberal, contrast that to about 20-30 years where only about 20% if did. all this government money has moved them far to the left so we're not getting an unvarnished
4:54 pm
opinion. we're not getting balanced news. we're not getting facts. we're getting propaganda, and that's why we need to doge this. david: i want to switch gears to what's going if to be happening in a couple hours or even less, this vote on whether or not donald trump gets his one beautiful bill in the house. blue state republicans, they want a higher s.a.l.t. deduction which is essentially payback from the feds for all the a money that they're spending on state and local taxes. now, you're a blue state republican. how high do the blue state republicans want to get from the deduction that they're now getting of about $10,000? >> well, let me talk to you about what president trump stands for x that's common sense. he's looking for common sense. he wants to give us some relief on s.a.l.t., and he appreciates that we have a special meeting with president trump, all the blue tate republicans on where the -- state republicans, and he said i want to give you something. it's not unlimited, but we need something because we do have a lot of high earners that are
4:55 pm
suffering under the high taxes. very few of the people in my district itemize which would be the people that would benefit the least from s.a.l.t. but we also double the standard deduction, and what we're looking at right now which is really important for people to understand is if we allow these tax cuts to expire, you're seeing a $4.5 trillion tax cut mostly to the lower and middle income taxpayers, not to the very wealthy. there's a great, you know, chart that's going out that just shows you how much of a tax break the tax cuts and jobs act are for small businesses, middle and lower income if taxpayers, our farmers, everyone that is operating trout my district in -- throughout my district in upstate new york, 95% got a tax cut. if that goes away, they're going to get a tax increase. not good. david: five seconds. is the president, who's now dealing directly with these republicans, is he going to get a deal by the end of the day? quickly. >> this is what we need in order to start the whole process of
4:56 pm
getting what we need perform i'm a yes. david: claudia tenney, thank you so much for being here, appreciate it. we'll be right back. ... when i posted on tiktok that went from maybe a few hundred people knowing about my product to millions. if it was not for tiktok, i can truthfully say that cprwrap would not be open today. only the servicenow platform puts ai agents to work across your company. they deal with the small stuff that bogs you down. agents like secret agents? you know... i once played a secret agent.
4:57 pm
- oh... - oh i miss that one. i heard you were great. i was great. you might know harbor freight for affordability. what you might not know is performance and durability goes right along with it. you see, we test. and then we test again. world-class engineering and rigorous testing to ensure our tools perform at the highest level and stand the test of time without testing your wallet. now it's time for you to put us to the test. whatever you do, do it for less at harbor freight. (♪) (psst psst) ahhhh... with flonase, allergies don't have to be scary spraying flonase daily gives you long-lasting, non-drowsy relief. (psst psst) flonase. all good.
4:58 pm
(traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some
4:59 pm
research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.
5:00 pm
david: so, thank you, so much for watching, a special edition of kudlow. larry will be back tomorrow with an all-star team including congressman wesley hunt, and senator steve daines but first, we have elizabeth macdonald to take you through the next hour. it's all yours, liz. liz: thank you so much. welcome to the "evening edit
0 Views
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
