huntsman baby. looks a lot like the mother. >> mom and baby doing great. congrats to abby and jeff. >> the baby is beautiful. bye bye. neil: you are looking live at jfk where we are waiting for arrival of the president of the united states because he's no good mood because he got tax cuts through and slightest of margaret ins but he got them through, the president earlier trumpeting the achievements. but the tax cut era is on, the left annoyed. the right happy with it. the president earlier today spelling it all out that it's a big victory. >> biggest package in terms of tax cut ever passed in our country, now we go onto conference and something beautiful is going to come out

of that mixture. people are going to be very, very happy. they are going to get tremendous, tremendous tax cuts and tax relief and that's what this country needs. neil: they have the i crossed and the t's is what they are waiting for. implications for you with the likes of senator ted cruz, kevin brady, remember, they are to reconcile this in the house as well, with the house, also hearing from democratic congress emmanuel cleburn. finally, florida attorney general pam bondi on how all of this sorts out and the michael flynn situation as well. first right now we will go to lauren simonetti of what we now know is in the bill as what we can sort out as the president arrives at jfk international airport. lauren: he is heading here. we are talking about the tax bill that the senate put

overnight in wee hours of the morning but they are still not done. the question is what now? the house is expected to vote monday night on a motion to go to conference which is separate but similar bills into one bill, they would vote on that compromise and send it on to the president's desk, hopefully by christmas, neil, so that means translation, we have 23 calendar days from right now, house and senate republicans will have to address the differences in their bills to pass one with the exact same wording, can all of this be done here is what is left to reconcile, corporate tax rates, both chambers approved slashing them to 20%, the senate delayed cut until 2019, the house kicks it in next year, you have state taxes, exempt 10-$11 million but the house bill repeals so-called deaf tax and never does in the senate, you have the individual tax rate, so you have 7 brackets

in the senate bill based on year 2025. as for the house bill four brackets but the top personal rate is higher at 39.6% and everyone is talking about this this morning, the senate amt but exempts about 40% more americans from getting hit by it. on the other side, the house bill repeals amt altogether. and you also have to address the cost of all of this, you have deficit hawks including bob corker, the only gop senator, by the way to vote no last night, she's concerned that these proposals are just too expensive and as you know the joint committee on taxation reprotecting the senate plan increases the deficit by $1 trillion over a decade even after accounting for economic growth, of course, no one mentioning that our deficits are growing anyway u10 times -- 10 times of that amount.

neil: no one says who is going to pay for it? as a result they just spend it. >> we work for a corporation and makes more generous and our situation gets better. >> we are all getting pay hikes. lauren: you said it, merry christmas. neil: we will be hearing more from lauren throughout the next few hours as we monitor the fallout, the devil is in the details and how they sort this out. the president arrives in new york city. he has a number of fundraisers to attend. in the meantime, we've got house freedom caucus member ron desantis and will be involved in talks to reconcile the difference and there are some in all of this. congressman, very good to have you. >> good to see you. >> will you guys will able to reconcile these differences? >> i think we will. it's just a matter of do we reconcile them in the most progrowth rate imaginable. i hope so. i don't think any of this is

going to be deal-breaker. i would have business go to 20 immediately in 2018. neil: they have it going in 2019. >> we did not have the original mandate repeal but senate did, i think that has to stay in there, that's very important. we left 39.6 rate for high earners, i would have put the mandate repeal to 35. you're take get away some of the deductions, if you lower the rates for everybody, you know, people in new york maybe it's a wuish but at least they're not having taxes go up. neil: what are you limited to do? now can't go beyond the differences ore if you wanted to go to top rate, you can't do that, how does it work? >> no, i think you can -- i think you can do that. neil: you're still kind of a prisoner -- >> there will be a prisoner of the scoring which we

discontinued, score it out that way, look, i think that the senate has got good things, i think we had some -- we are probably better on the business side, they are probably better on the individual side, maybe with marry the two and get a product that people are excited about. >> it has to stick to that rough one and a half trillion revenue. >> exactly. >> and when do you see all of this done? >> well as soon as possible. i would like to. they just did this thing last night, we are going to go back next week, we are going to vote to go to conference monday might in the house, i would like the committee to be named this week, you to work the idea and weekends, the public is sick of that, get it done, do i think time is of the essence and we have to get this done before christmas. neil: i know you wanted bigger cuts and rates would be lower across the board. but it is what it is, on the individual side, my sense is

this, that it's a mismatch. the corporate one without the doubt a development. throw it into stocks or buybacks or throw it into dividends but they don't right away. >> even people that are critical economists who are critical, they say some of that will go into wages and salaries, the people who are supportive, you may get 30, 40, 50% of it, if they are giving it to shareholders, middle-income families, they stand to benefit as well. i think we have created better incentives for businesses to expand here, remain here and bring money back and so it really is a far-reaching reform but we are not legislating in a vacuum. we have a global economy. there's other people that are competing was, why would we want to put ourselves at a vis --

disadvantage? but i think the larger picture is i think we are changing the incentives in much more progrowth direction and that'll be a foundation for progrowth. neil: you're watching the president of the united states, he's arrived at jfk international airport in new york, he will be going to fundraisers, so the congressman's point, they will try to iron out the differences in the package. not as many as earlier thought. the senate came closer to you, guys. >> i think so. amt is different, delay in corporate rate is different -- neil: they keep that in there but for corporations but also for some individuals? >> exactly. >> you want that out? >> we want to simplify the tax code and the amt has been a disaster so that was one of the things. they had concerns from other members of paying for other aspects and probably ended up

better on pass-throughs than we were. i applaud those member who is were fighting for that. neil: a lot of people in the senate, republicans didn't care whether those in high-taxed stated were going to get burnt by this thing, removing state and local taxes, provision where you could write up up to $10,000 in property taxes and the like. but it's an issue for you poll incomes the house, not you specifically but some of your colleagues from some of the big high-taxed states, peter king, that's a nonstarter for them. >> kevin brady addressed, i want to get to a point where those new york members can vote for the bill, the only way to do that if you're going keep the state income tax deduction out, i think we should good to incentivize -- >> it sounds that you're prepared to lose that? >> income tax rates that make constituents that leave them in as good a place -- neil: the rates right now

wouldn't do that. >> the way they are now in the house bill, i can tell you in florida, that was -- we would see real estate going up. neil: you're already seeing it. anticipation of benefits -- >> people when you lose the salt, people -- they can buy a house in florida from what they are saving in these things. so from my perspective, it's probably good for florida if they don't address it. so we have daytona beach and st. augustine. neil: beautiful, rub it in. everyone was making about general flynn visiting courthouse, yes, indeed, i did lie to the fbi, what was left out that abc was originally reporting that concerning conversations he had to the president prior to the president was elected. now turns out that it was after. lost a lot of thunder. where do you see it is going? >> i have not seen any evidence or anybody has seen evidence of criminal offense involving

trump's campaigned, that was the reason mueller appointed, everything hey, deal with the russians and other countries. they were trying to beat back the israel resolution, we will veto it. neil: abc news dialed back the tweet actually that these conversations -- if you had the cynical view that you were trying to rig something, the election is over. >> he has 300 electoral votes and president elect and collude about the election, the timeline doesn't work. until there's any evidence of that, a lot of this stuff is really the criminalization of politics. i mean, flynn was involved in doing this, the fbi goes and interviews him, the question is why would the fbi even interview him at the time, there was no crime that had been committed. you have every right of transition official. neil: he made a deal, flynn? >> admitted that he didn't tell

the truth. why would the fbi got in to discus that with him. doesn't seem to be a crime -- neil: should the president as he arrives in new york, should he be worried or celebrating about tax cut? >> i don't think he should be worried about collusion, there has not been evidence of that. there's a distraction the longer that this goes on. i've been saying for months this thing needs to be circumscribed. it doesn't involve the reason that he was appointed to begin with. neil: real quickly on some other developments, john conyers, lawyer saying he's not going anywhere. other colleagues of yours who sent risque pictures are running for reelection. they wonder what the heck is going on in congress right now with members and payoffs and all of that stuff? >> well, i introduced a bill with great bipartisan this week

that says any of those settlements need to be made public, taxpayers -- neil: did you know that such a fund existed? >> no. it was a permanent fund that was established in '95 and auto pilot and dip into it, we don't conduct oversight or don't vote one way or another. we will do transparency on the fund and defund any bailouts for members of congress for my misconduct, the taxpayers should not be paying for john conyers. neil: very good, congressman ron desantis, you had to rub in daytona, that's fine. i would do that if i came from that neck of the woods. the president is in new york, he might make comments when he arrives in manhattan, we will see. in the meantime he has to be happy not so much on general flynn development, abc didn't quite get everything right when it came to the timing of those voirgses that flynn had with the russians u but he is more

pleased and more more focused and this morning was much more tuned to the tax cuts as he says will make a big difference for you, is he right? after this. morning on the beach was so peaceful.

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>> even considering economic growth, the republican tax bill would add roughly a trillion dollars to the deficits. >> now we have a bill that raises the deficit by $1.4 trillion. >> the nonpartisan congressional budget office say this is bill will tax on $1.4 trillion to the debt in the next ten years. >> be clear, this tax plan would increase the deficit by $1.4 trillion. >> increase it is national debt by over $2 trillion. 1.5 plus interest. it's almost criminal. neil: whatever your views are on the debt, deficit, the fact of

the matter is no one is talking about the fact that uncle sam is going to acquire $10 trillion in added debt, the tax cut, whatever you make of that would be about a tenth of that, everybody worried about where the money is coming from? not too many on the republican side either concerned about the 9 plus trillion dollars of added debt. it's a little weird but it is what it is. what now. john, we begin with you, the fixation on the debt is one thing but it's grown, you know, in the last two administrations, particularly in the last one so we saw a lot of criticism from republicans although it grew under george bush as well. but the focus on paying for the tax cut seems disproportionate when it's small compared to growth spending that's producing far bigger debt, what do you think? >> i think that's exactly right. shows how hypocritical these congress are.

the debt doubled effectively under president bush and doubled again under president obama. $10 trillion is a cbo projection of debt. 2027, $31 trillion without the tax cut or 32 trillion with it, we have 97% of our debt that they're not addressing right now and they're talking about tax cuts, look, tax cuts historically have raised governor revenue and increased gdp, they're not talking about the true factor and that's over 97% of debt in 2027 has nothing to do with tax cuts and they're not talking about that. neil: but i'm surprised as someone who follows the markets why isn't that more of a worry? i know we are able to handle it, but it's been not seen as worry because the milestone that is we crossed where we keep climbing higher and higher, eventually that will be an issue, isn't it?

>> that's part of the problem, a very long-term problem. we are not immediately going to have problems with our debt paying it unless we manufacturer -- neil: never say never, young man. >> it could be a lot faster. the cost of that would be much higher than the tax cut by any stretch of the imagination, very quickly, over ten years which is projections are, the bottom line is nobody cares of deficit when you're out of power. the debt increases that are going to happen are automatic. trump has done less policies included in the last, bush did a lot of spending, a lot of war spending, obama did stimulus spending. it would be better if the cap was marble neutral. we are not going to get a corporate tax rate cut and get

rid of mortgage deduction without any actual cut for anybody else. it would be political suicide. that's the way taxes are. we do have lower corporate taxes. neil: got you. this package as it stands now you say what? >> well, there is a lot of crazy for the millionaires and billionaire who is are going to benefit from this and that's what this is. i actually agree with john, everyone is playing politics, you've got making decisions that they are not going to have to deal with. the people who are going to have to deal wit preteen and teenagers and, you know, we have to get past this shot and taser mentality. neil: which is now just a week away, should be sooner, to address these issues, long-term spending issues, that's an opportunity to do so right? >> the first thing we have to address is how lower-income

americans and income americans are going to be devastated by this tax cut, but here is what's going to -- neil: wait. how did you factor they are going to be devastated when -- >> they are the ones that have to pay for it down the line. neil: right now they are getting for their kids 2,000-dollar credit but they are all getting that, how are they getting hosed here? >> the tax cuts come and republicans will come back, well, we have to cut social security, medicare. neil: you don't know that. >> , no i believe paul ryan actually admitted that. neil: we have to sustain growth of the programs, you said it on the show. >> i think we should have honest conversation and not piecemeal these out so that we can see where the real impact is going to be. neil: isn't part of the conversation acknowledging that both sides need to get serious

about entitlement programs or growth? >> i think both sides need to get serious and they need to be more honest in their presentation of what this tax cut represents. there's a reason that the number one trending item all of last night was #gop tax cuts, there's a real concerns that people have been bamboozled and we have ceo's, even when diane feinstein gave senators an option to say all of the breaks you're going to give, what stockholders are going to get and pay increases and guess what, every single republican voted -- neil: corporations are fine to do this, buy their own stock and they don't hire people at least immediately, is -- that would be deemed disappointment to a lot

of people, would it not? >> finding big foot has trended globally. i don't think i need social media to determine global policy. neil: you know i was a hashtag once. neil cavuto was a trump hater. extremely long hash tag. >> they used most of it for your hash tag. neil: sorry for breaking news here. we want to keep you aware of some of the other sexual scandals in capitol hill, ellison barber with the latest on what he is hearing, ellison. >> lawmaker accused of sexual harassment, minority leader nancy pelosi says he needs to step down, this is the newest lawmaker fazing allegations, the woman only identified as samantha told buzzfeed that ruben harassed her when she worked in 2016 campaign as finance director. she was 25 at the time and he

repeatedly asked for dates and even though she repeatedly said no. in a statement pelosi said, quote, the young woman's documented account is convincing. congressman should resign, one of at least four lawmakers accused of sexual harassment. representative john conyers denies accusations against him, democratic leaders called on him to resign. lawyer says washington won't decide but but also suggested resignation isn't off the table because the congressman is in for health and checked in to a hospital very recently, one other thing conyers' attorney pointed out, how come there's been so many accusations against senator al franken, at least five and photographic evidence and few seem to be calling for franken to resign while so many are calling on conyers to resign. conyers did admit to using $27,000 from his office's budget to settle harassment claims of a former staffer. in other office it is

congressional slush fund cut the check, the office of compliance has reportedly paid more than $17 million since 1997 in settlements for various violations of employment rules, according to politico 84,000 taxpayer dollars used to settle a 2014 sexual harassment against texas republican representative blake farenhold. >> this is why only 6% of americans think that congress is doing a good job, you see the auctions that cbs, nbc take when allegations against very well-nope men against positions of power and we don't do the same and i think it's a disgrace. >> some lawmakers are trying to pass legislation that make public and also ban them in the future. neil. neil: ellison, thank you very much, meanwhile private companies, accusations come out

and so the executive or anchor being charged. nbc, biggest example this week with oust of matt laer. difference between what happens in corporate america and what happens with our, well, representatives of america, it is odd, is it not? >> people are frustrated. the moment an allegation comes out, the person loses their job, it can just take just a matter of hours whereas politicians they all seem to be holding on but it's also true that there is a reason why that happens and there is an efficiency in the private sector that isn't in -- in congress or in the senate and that's actually okay. these people aren't, they don't report to nancy pelosi or paul ryan, per se. it's up to constituents to decide whether or not problems exceed tolerance and whether they want to decide to get rid of these people and they are able to apply the pressure. that's a good thing about our

system even if it frustrates people in the media or people here in dc because they have a problem with it, it should be lights out. neil: you know what's going to be dicey, the same media clambering for roy moore's head if he ever gets elected, kick him out before he gets and i can understand that, my point is the due process thing, hearing everybody out. there's got to be a middle ground between accusations made, throw the guy out versus accusations made, wait for taxpayer payout. >> yeah, we have a little bit of a mob mentality going on which really makes hard to have calm rationale discussions, one of her members should quit because of a first name, a report that is only sourced to the first name of someone. maybe the constituents of that representative would like a little bit more or little bit more understanding of the situation before they decide to oust him. you know, and maybe he will decide to step down or what not

but due process a good thing and it's good for people to kind of calmly and rationally make the decisions even if it's also good that we are seeing people not have a high level of tolerance for sexual misconduct. this is why the american voter is key. we get who we want in the congress and we are the people who choose these people f we have a problem with it and in many cases we should, we should be demanding higher ethical standards, we should be demanding that these people meet certain ethical standards in order to represent us. this is a privileged position they hold and they have a lot of power and they should have good character, a lot of the guys don't. neil: it's going to be tested with the roy moore tame because if alabamans elect him and in united states senate, he was elected back home, they like it. we will see what happens. molly, thank you very much. scene outside in new york where donald trump will be having a fundraiser, he might when he gets there talk to folks, talk a little bit about what's going on

in the tax cut u very happy about the progress made there last night. a big legislative victory for him. it's not signed and sealed yet, has to be reconciled with the house measure which has some differences but not as many as you would think. again, we are going to be going there. when he arrives there, the president on home turf in midtown manhattan. that's where we are. that's why we are looking forward to traffic after this. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.