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tv   Kudlow  FOX Business  February 26, 2025 4:00pm-5:00pm EST

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it's a negotiating tool with foreign policy and in the meantime, the war in ukraine and trump backing up, there's europe handing up. liz: great to see you, david. thank you so much. don't miss my interview with jensen huang and kudlow is up next. liz: hello, folks, welcome to kudlow, i'm larry kudlow. speaker mike johnson one big beautiful bill and big step close tore trump tax cuts and we
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had conference chair going for economist extraordinary steve moore on that? just a minute and congressman wesley hunt and anna paw lina and more on president trump's pro growth economic agenda. then we've got housing secretary scott turner on how mr. trump makes homes afford and will save the suburbs. edward lawrence live at white house and what do you have? reporter: yeah, it was more than an hour long cabinet meeting and uncovered a lot of ground domestically and foreign policy and internally the president is setting up for a massive cost cutting measure for taxpayers within the federal government. the president turned over the beginning part of the meeting and government employee. and elon musk said he could get $1 trillion in savings for the government by end of 2026 and
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asking the workers for five things they did last week justified by this. >> there's a number of people on the government payroll who are dead, which is probably why they can't respond. and some people that aren't real and fictional individuals and collecting a paycheck -- somebody is collecting paychecks on these individuals and are these people real or alive? i think it's a reasonable expectation. reporter: about one million workers responded to that and about half of the government work force. going for a gold card program and $5 million each and this program going to buy work visas for a person wanting to invest large sums of money in the u.s. with this program and cost cutting measures and commerce secretary howard lutnick assigned to just listen to the startling statement. listen to this. >> there's a live line of twitter and 200,000 of these
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gold green cards is $1 trillion. it's to pay down the debt. that's why the president is doing this and going to balance the budget and pay off the debt under president trump. reporter: pushing till april 2 and the date with reciprocal tariffs and going for autos on the european union and gives more time now to negotiate with all the countries and that block of countries to get a better deal and the deal that donald trump wants to see. larry. liz: thank you very much, edward lawrence, next up go over to hillary vaughn, live on capitol hill where there's some major action going on. hillary.
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reporter: hi, larry. house republicans stuck together and passed the road map and time for the nitty-gritty and flushing out policy proposal included in this one big beautiful bill, which right now just has big beautiful blank pages and outline of spending priorities focussing on the border, military addressing the debt ceiling and tax cuts. the house bill extends president trump's 2017 tax cuts but trump today said he wants congress to make them permanent. speaker mike johnson says he doesn't seem to think that'll be a problem. >> the president is calling for permanent tax c cuts and amend your budget to make it possible? >> no, the equal librium to do these things and extra spending and speaker johnson promising republicans they'll come up with $2 trillion in spending cuts and each committee is tasked with finding share of the cuts including house energy and commerce committee, spending authority includes medicare and medicaid so democrats are
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filling in the blanks themselves. >> the house and budget resolution will set in motion the largest medicaid cut in american history. children will be devastated, families devastated. reporter: but the congress committee jurisdiction touches almost every faucet of the commerce too and not just the programs. there's a lot of places to poke around and find ways to cut. >> can you guarantee that medicare, medicaid and social security will not be touched? >> i've said it so many times. we're not going to touch it. we're going to look for fraud by people that shouldn't be on it like illegal aliens and others. reporter: senate majority leader john thune and spiker johnson at the white house and meeting with scott bessent and kevin hassett to get the senate and house on the same page and get this one bill across the finish line to
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trump's desk. larry. liz: fraud is the right answer. there's so many fraud in medicaid and everyone talked about it and written about it. anyway, good stuff. hillary vaughn, appreciate it very much. folks, good growth economics makes for good politics. that's the socket of the riff. a budget resolution and including a trump tax cuts and speaker johnson, majority leader scalise defied beltway wisdom and senate republican wisdom by getting a bill through, quickly. budget chair jodey arrington getting credit for having written a bill and around perhaps later in the show. president donald trump gets some credit for making a couple of very important phone calls.
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treasury secretary scott bessent gets credit for sheparding the bill through the house. interestingly, not a single house democrat voted for the bill. that means the house democrats favor a $4 trillion+ tax hike. en sures a continued minority status for quite some time. the house and senate republican haves to get together and hammer out the compromise and the tax writing chairs and mike crapo in the senate and jason cavs in the house and -- jason chaffetz in the house and secretary of the treasury scott bessent and nec director kevin hassett. one key point is whether all the
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trump tax cuts, both 1.0 from 2017 and 2.0 from the campaign last year will be made permanent. earlier today, i spoke to a leading senate republican who would like all the tax cuts going today. going for them and going for them to conform with mike crapo and going for them and led out to a neutral deficit impact. that remains to be seen and best possible outcome is crapo's policy and everything going for them to be permanent. note worthy, whether any doge budget c c cuts and doge dividends and doge debt reduction will be part of the final overall package. the various there's the key
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point and mike johnson with victory and tying together all of president trump's policy requests. lower taxes and less spending and fewer regulations and more strong national defense and house now going to continue to drive this process. go this is fundamentally. going with the working class coalition put together by mr. trump. successful 2024 campaign. and with mike johnson great victory and it'll be a world record and not only going for mr. trump going for that.
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i believe my first boss ronald reagan argued, good economics leads to good politics and the beginner had a successful time of it. looks like mr. trump is following in the same path of economic and political abundance. that's the subject of the riff. all right. joining us now is lisa mcclain, chair of the house republican conference from the great state of michigan. steve moore, host of more money on wabc radio and coauthor of the trump economic miracle somewhere in the washington dc area and maybe maryland and no telling with he is.
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steve moore and myself and art laffer. can you make all of the trump tax cuts permanent. i would like to see one big beautiful bill with one big beautiful tax cut made permanent. can you do that? >> optimist by nature going for them together and we passed and it's the project resolution going for them and is there work to be done and absolutely there's work to be done. is it going to be messy at times?
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what i would say is listen to what you guys are talking about. talking about tax cuts. the democrats want to talk about letting them continue on and not getting americans tax cuts. how do we pay for the tax cuts and how do we pay for them and do this in a response in a manner and goodness gracious, we haven't talked about things this optimistic as a kid and we're on the right path and now just need to get to work and keep it going. liz: i happen to like if you raise spending here and cut there even $2 for every spending. tax cut paid for, i larry: know, steve. you've got a problem here. i hate to see the republicans
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give up on the laffer curve and hate to see the republicans give up on the idea of mike crapo's policy budget and done under obama and i larry: see why it can't be done again. one other thing mike crapo going for reconciliation law and crapo knows it's that what the budget committee is deciding to do, those are the baselines that you can have a baseline that's long, short, neutral, whatever. but that's just -- i mean, i larry: want to see them get shortchanged and i larry: like the idea of linking pay fores to the tax side. that troubles me. >> so first of all, i want to congratulate lisa mcclain, fantastic job yesterday was unbelievably important day for america going for them and congratulations and i love the speaker and he did an amazing job and donald trump made it --
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or intervened at last minute to get this done and that's fantastic with some phone calls and it's a great team and one thing i told speaker johnson meeting yesterday and starting the meeting saying it's cost for training and i said mr. speaker, i love you and fantastic and stop and you did this too. talk about this going to cost money and all we're doing here is preventing a $4 trillion tax increase and talking about it earlier and that's what apparently the democrats are for. this very significantly raises the odds, larry, that we'll get this thing done. stick with this and get it done. i'm worried about the conservative friends that still want to hold the tax cut hostage
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to all the funding cuts. i larry: think that's -- let's just get the tax cut done now and cut the budget. liz: lisa, the doge debts and doge cuts and doge dividends and do you envision anything when this is all coming together. >> everything is on the table and that's the beauty of right now and not talking about what we won't do and how do we get short term orientation a -- yes, move forward so right now where we stand right now, everything is on the table. and why shouldn't it be? liz: i saw a poll showing how popular doge dividends are among people and they're like close to 60% popular and i know not
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everything is possible in these things but something to consider and you beat the odds of all the liberal pundits here in washington dc and the pundits in the senate, which i like more. lisa and steve, thank you very much. coming up on kudlow, trump pro growth agenda and trump 2.0 walleye we need to calm markets and maybe end the bidenflation. we need a growth budget and we need to talk growth and talk it up. we have john kearney from breitbart onset when kudlow returns and catch kudlow monday through friday 4:00 p.m. on fox business, fabulous fox business and for some reason you can't get us at 4:00, just text your favorite 9-year-old and she will show you how to dvr the show and you'll never miss a thing. i'm kudlow, we'll be right
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liz: we have coauthor of
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breitbart digit, john breitbart. markets open great on the news of this deal. then kind of gave it back. any thoughts on that? >> markets and investors very relieved to see that republicans could come together to make a deal. everyone said that wasn't going to happen and deal might not be perfect and people saying there's too much spending in it and just getting all the republicans to vote together and pass something was a very big deal. i think the market came back from when we started getting more about the economic news and housing numbers and numbers came in well under expectations and might be a little panicky and very good numbers of upper revision for the prior month and in january, fires in los angeles, snow in the south. it snowed in new orl orleanss and hasn't snowed down there for a long type. nobody is building houses in the south, biggest housing market in the country.
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i think there's a little panic but there's been a lot of bad numbers and every time you get one of those, the market is going to go down. >> it's interesting. liz: the thing to do and maybe the fact that the tax cuts went in and back on the front burner from the back back burner. >> didn't fall off. liz: yeah, and coming in the nick of time and on top of that mr. trump acknowledged in the cabinet meeting and not all easy to get out of it. that's why the sooner it's done the better it's done. that's why i thought that the house putting everything together in one package and not worrying about the tax cut or third bill and that the house is driving this thing and driving it in the right direction. >> making it clear the tax cuts are coming is very important.
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as i've said before, the market doubts that we're going to get them and thinks the republicans will fumble that, then we'll be in a lot of trouble both in terms of financial markets and economically and you're right to say that we -- people that we got a very bad economy from joe biden. >> inflation was stronger than people thought at end of last year and never cut and bidenflation and making the problem worse and now the fed is at a really tricky place and if these numbers keep getting worse economically, the fed may have to actually start cutting while inflation is still high. that's a very bad thing to happen. could drive inflation higher. larry: a lot of times that happens and a lot of times slow growth leads to higher inflation could you not produce enough goods. we're not producing really goods. look at stuff like industrial production, look at manufacturing and mentioning the
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housing and staying around and the fed is equipped to deal with that. >> the fed numbers are very weak and didn't get weak but they've been weak and one of the problems is they're not getting stronger. we need them to get stronger so if -- a key to that is deregulation and the other key is energy. trump has been talking about that nonstop, which is great. there's a rush of invest.have to do it and do it quickly.
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economic deteriorations feed on themselves so larry: it was my car service driver that pointed out to me and believe west texas hit $68 today and he's waiting for gasoline prices coming down. i'm not sure if that's a recession signal. ukraine and war signal and it is gasoline prices might come down and that'll help the economy and produce them and it'll help. >> peace in ukraine is good for markets and that we're spending a lot of money on defense. and trump telling europe that they have to step up and spend more for their defense. lowers our long term spending picture, which actually should bring down both inflation, bring
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down interest rates, i think that would be very good as well. everybody looks at that as a foreign policy matter, it's a economic matter as well. larry: i like that. well put. john carney, breitbart news. thank you. good economic growth can and will lead to good politics. reagan taught me that. good economics lead to good politics. we have congressman leslie hunt and congresswoman anna paulina luna and kudlow is available as a podcast and available every weekday after the show on spued fio and apple and fox business podcast.com. we'll be right back. 's the watee r that somehow passed inspection r but will definitely flood your basement. -wait. -congratulations. here's your first year's supply of nitrogen fertilizer. remember, not too little or too much or you'll kill your lawn. -okay. -congratulations. here's progressive's homequote explorer.
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tamra, izzy and emma...
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they respond to emails with phone-calls... and they don't "circle back" they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety- clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. larry: as i've said at the top, ronald reagan is good economics
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that was a reagan stay and will what you got done last night and fundamentally is good economics and pro growth economics and especially with the you recollect do things not guilty done in a long time and expand majority in an off year hawaii do you think? going with president trump going behind the scenes and one big beautiful bill on the past side here and i'm cautiously optimistic in the senate and i think we're going to get it done and yes, you are right and i can tell you that going for the
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america first products and going to be tax free now and this is all things that president trump campaigned on. larry: can we get all that in and that's important and and the tips and overtime and helping seniors and that stuff is dynamite. that's growth. how supportive of that and also too, jason smith and all these very brilliant minds are saying that the math tax and the math checks and so we're looking forward to it and this passing
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not just in the senate and president trump signing it into law and to be clear about something, i think moving forward obviously very tight majority and it's important that we all continue to work together but paying real dividends and projected to win the midterms in the next couple years. >> how about this. a word of support for the freedom caucus and they're getting a bad name. they're good. they're smart. they're conservatives and they're for growth. their for tax cuts and limited government. heck, i agree with that and you agree with that. for the first time in history there's a massive boom in the economy and handed a dumpster
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fire from the biden administration and there's a lot of work to do but it's all good to see people moving forward and really delivering on president trump's mandate for the american people. happy to be a part of that. larry: i tell you what else, the doge effect and i was looking at a poll on a website and 55/60% of the people would love to get a doge dividend or have doge savings, pay down debt. you know, elon musk is a controversial guy. he's a rookie in politics, but he's got a big following. but most of all, he's getting done what we never seem to get done, which is a smaller government and a smaller work force and pay some dividends back to the taxpayers. >> well t helps to have outsiders in washington and elon has largely been a target of the smear campaigns because he's come out and going with that.
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the doge effect is doing what congress failed to dorks and that is a, spend less and ensuring that the american people aren't having tax dollars wasted and it's rightfully so the american people deserve a refund and crazy stuff the american government was spending money on especially under this past administration and good to have a bit of sunlight in the darkness and i think that's a winning message and i think the american people entrust elected officials to do the right thing up here and unfortunately there's been a lot of people doing the wrong thing and it's helpful to have this administration putting top down pressure on. larry: i think he said it today at the cabinet. he said, you know, the memo i sent out, not a performance review and it was a pulse check. he wanted to see who had a pulse
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and was still alive on the federal payroll and who wasn't. that's a serious issue. doge found people are getting social security checks and it was absurd and i think that elon, his heart is in the right place and obviously the secretary ultimately has the say over those different agencies on whether or not they should respond and saw that tulsi larry: respond for specific reasons and ultimately we're same team and same fight here and he has his heart in the right place and he's literally finding massive amounts of what we need and we'll be successfully turning the ship around and if you see just last night. this piece of legislation passed by one vote.
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larry: it was a huge landslide. last one and supposed to be a big federal riff coming by the middle of march and president trump talked about that today and cabinet and such has been the president's custom and that's been very popular and people outside washington beltway want to see -- they larry: want to see people hurt. but five month se severance package doesn't mean people get hurt and they're educated people and highly edge waited people contributing to the private sector and i think -- if there's a big riff coming, it'll be very popular. what do you think? >> look, i'm being told that people in dc are taking these
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steps and they're not being fired and not willingly leaving and heard that people are wanting to leave. look, being in washington is not fun. people might think it's glamorous and it's not and it's a grind up here. those people are giving options and obviously if someone feels they're wrongfully terminated and they have every legal tool at their disposal and going to be something that's someone leaving on their own accord. larry: anna paulina luna, what's next for you? >> i have to go vote but we're happy to deliver for the people of pinellas county. i'm trying not to could have. trying to pull yourself
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together. i want to talk about this. i want to go to maine for just one second. it's very cold and i want to go back to maine. the governor of maine decided to pick a fight with the national governor news conference lunch in the other day. and about trans and, of trans and she says i'll see you in court, okay, and trump said fine, we'll go to court. and he said executive order trans is out as far as education and the whole grant in the state of maine. the republican if i get this right, laura libby is a republican legislator in the main legislature. she posted pictures of a biological male in the state's poll vaulting track and field. pole vaulting and last year the biological male entered the pole vaulting contest on the men's side. this year the biological male
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entered the pole vaulting contest on the female side. she thought that was profoundly unfair. i happen to share that view. she posted a bunch of pictures and the maine legislature got so put out that i larry: think they'll let her vote anymore -- la larry: let her vote and that's nuts and crazy. >> it's a vile provision in multiple ways but of how the legislature works and let's dig into this and going to vote 70-74 to centure the individual and on the grounds that she posted the photo of a minor and irony here is that minor's photo was blasted throughout media and throughout the country and defended herself and going to put that out there and going to miss the point and trying to silence a vote here that represents the will of the people that rightly calls out
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someone who failed as competing as a male and going to be a champion this time around and talk about how she protested it and brought to the attention and the reality is everyone did including a coach and a judge going to be at that player competition and that person competed as a male and protested by not showing up this time around. and the fact that the maine governor who joins 19 other attorneys general in these lawsuits, frivolous lawsuits, virtue signals lawsuits will see trump in court. the massachusetts circuit court and going to approve a non-disclosure policy and someone's 11-year-old decides to be trans-gerunder and not notifying the parents. it's well within the parental per view and certainly protect the biology of women. larry: won't the voters of maine be offended by punishing by the
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legislate -- the democratic legislature, punishing this woman? the republican that posted the pictures and lots of other people posted the picture. it's not a new thing, but she put it up there. they won't let her vote now. don't you think there's a backlash? maine is liberal but it's not that liberal. i mean, actually trump did rather well in the last election there. maine does have a republican senator. used to have a republican governor. >> i argue that it's very trite because unless and until she "apologizes" that's when the vote is restored and the argument is quite solid that you could vote -- argue the censorship is unconstitutional because it's disproportionally quelling the voters whose voices she represents by demanding an apology. larry: it's stupid and vile. >> exactly.ly larry: it's a los. trump, keep it up. it's like every democrat in the house voted for a $4 trillion
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tax hike by opposing republican bill. >> correct. larry: keep it up, boys and girls. they're going to elect republicans for the next 100 years. i don't know if that's good, but that's what they're doing. get wise, i'm sorry. >> exactly. no, be grateful and i keep thinking about the allen family. in vermont so neighbors to maine, the dad was a soccer coach of the school and daughter was a soccer player and they were both -- he was suspended without pay and she was suspended from school from daring to salespeople out about a biological male in the locker room. the court came in and reversed decisions and installed pay and restored her to school. but the point is that in the media coverage of it, they quoted steven king as saying i stand with maine, i stand with vermont. why not quote the allen family? why not quote the salesgirls, the biological girls at that championship designated losers and had future scholarships stripped in your coverage of this? the voices quelled by the --
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exactly. larry: they want to cheek if he has a condo in palm beach. [ laughter ] larry: emily compagno, the best of the best. don't hiss emily on outnumbered and harris faulkner and every single day on fabulous fox news. i think i'm going to be with you on monday if i'm still kicking. coming umm here on kudlow, new housing secretary scott turner, great guy, great friend and former colleague on ending biden era zoning restrictions and trying to preserve the suburbs. wow, is that a important mission. scott turner on kudlow. thanks, emily.
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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. larry: stop trillion zoning and save the suburbs. we have hostaging secretary scott turner. number one, congratulations on your post and number two it's a pleasure to see you and number three, save the suburbs and stop the federal zoning stuff. >> yes, larry, so good to be with you and thank you for always being so encouraging and you're right, we have to save our suburbs and i have the affirmatively believe in firehousessing rule and right here, larry. this is 75 pages of bureaucratic
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red tape and it was crippling people from having the suburban american dream and we're taking it down today so we can restore our suburbs how you said. >> i love to hear you talk on this stuff ask and you know all about it and we've talked about this in the past. they want to use -- obama started this and biden made it worse. it's climate change regulations and public housing is going to go in the middle of this naked. regardless of what the local folks want. why can't we keep it so local folks run their own towns and not the federal government? >> we're right and we're restoring local control, larry. all too well, this innocence is a zoning tax. washington bureaucrats are not
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larry: going for cities and democrat-run cities and want to an ex-suburbs to give them more money and power and telling them what to do. to try and regulate them through that vehicle. that's a growing problem. >> it is a problem and today, we're taking down this rural, this obama bide natural rights approach rule and burdensome regulations, larry. we're nodussed in regulatory reform and restoring the control back to the localities and you know, these rules and others like this, decreased theed supply and increased costs and supply and returning back to the state and bringing cost down and raising supply up sort of with
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more people 24 america atreving the american dream and home ownership and we have a great team and count on us to fight for that every day for the american people. larry: that's where i was going because i was going to say, how can we utilize this to build some affordable housing. you just started to mention it. i'd like to hear more. voting for trump and that's what the polls show and they went by a home and scott turner they want to get and cash in on the american dream and we ought to do everything we can to help them. >> absolutely, we should and washington cannot pick winners and losers. so that's what affa did and washington was picking winners and losers and now the american family, next generation of homeowners are going to pick where they live and where they want to raise their families, what schools they want to put their children in and what parks they want to go to on saturday,
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larry. we're excited about taking it rule down and restoring freedom and flexibility back to the american people. larry: scott, update on enterprise zones and one of my favorites. >> yes, sir, larry. you know the opportunity zone have legislation we worked on in the last trump administration and extremely going for them and moving forward to expand opportunity zones and going to increase the american families and creating new and better businesses and everybody in america going to doubt people and needing more. larry: just terrific. scott turner, the best of the best. good luck there, mr. secretary. we're all rooting for you. terrific stuff. folks, i'll be right back with my last word. ♪ i'm thinking of updating my kitchen... —yeah? —yes! ...this year, we are finally updating our kitchen... ...doing subway tile in an ivory,
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larry: as i said earlier, good economics always leads to good politics. reagan taught me that a long time ago ago. the house did everybody a favor tying all of mr. trump's policies together including the tax cuts and it will pay dividends you wait and see. in fact while you're waiting and seeing, watch elizabeth macdonald. liz: thank you, larry picking up on exactly what you've been covering thank you so much and we've got more. i'm elizabeth macdonald welcome to the "evening edit." >> we've requested a lo

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