>> all right. welcome back. you're watching live on the left of your screen. this event at cipriani's in midtown manhattan. outside of cipriani's to the outside of your screen where there are a number of protests. and this is routine from both parties. this generated protests, the tax cut the latest catalyst that folks don't feel they're treated fairly and they feel it's their right and it's the president's right to argue. and he's going to raise a good deal of money and a couple more planned for later today and all of this, of course, on the heels of the president getting his first big legislative win. he's had executive orders and

memoranda, whatever you call them. that cut down on rules and regulation and that sort of thing. that's the wind of the back of the market and the market having the fifth 1,000 point milestone, since the president was elected. this could be the proverbial ice on the cake with the senate passing this and the differences are not insurmountable, that was looking like. one of the architect of president reagan's plan, art laffer. >> they agree that this is needed and the details, they're through with the details, this'll come to reconciliation. the one thing i hope, neil, that they don't do is allow the tax cut to begin on january 1st, 2019, as opposed to 2018. neil: for the corporations.

the senate plan calls for 2019. go ahead. >> that incentivizes people to delay decisions. we did that in 1981 and it caused the deep recession of 1981-82 which was very unpleasant, very bad for the country and politically for ronald reagan. when the tax cuts finally took effect it was a wonderful elixir and economic growth. this delay will stop people from removing the shelters for their income, will stop companies from moving back to the u.s. because they have no incentive to do it at a 35% rate. neil: and you raise a very good point. while the president got elected, and the full part of that tax cut for the american people. that delay caused some the seats in the election. >> it brought his approval rating from mid 70's, down to the 30 he is ament so it was really, very, very bad for the republicans. once the tax cuts took effect, we had an enormous expansion. i mean, the gdp from january

1st, '83 to june 30th, '84 grew by 12% in that 18 month period and that's an 8% annualized rate which meant that we won the election in '84, winning 49 out of 50 states, but that year we could have avoided by having the tax cuts right away as opposed to phasing them in. this administration and this congress can literally change that and make it start on january 1st, 2018. neil: i know you're not one to diss members of the republican party, but this president claims that his tax cuts are the biggest ever. yours and ronald reagan's were the best, weren't they? >> common, the '86 tax cut was the best ever, ever. neil: that was a biggie. >> huge. neil: how is he coming to that matt? i'm curious. there are certainly more people in america today. >> probably higher incomes. i think that every president that says that, i don't fault him for saying this, hey, they

are in part, cheerleaders and they're-- >> i'm trying get you embarrassed. >> you get me embarrassed all the time, neil, you know this stuff so well that i get caught up in-- >> hardly. hardly. let me ask you, this is a victory that republicans sorely needed and you mentioned a good point at the outset how this could improve their prospects in the midterms, but not if they're delayed. i think that people forget that. >> that's true, if you delay the tax cuts, you delay the recovery. in fact, you'll make the delay worse because everyone will postpone income until 2019. neil: and the senate must be doing that for a reason to make the math work. and even with that democrats complain that will add a trillion new to the debt. i don't know about their sudden concern. we're 9 trillion other in debt simple spending the way it's going. that wasn't the issue, but the tax cuts were, what do you make of that.

>> the cbo and tax foundation are completely wrong on this. this tax cut will raise revenues over a 10-year period and bring the deficit down not bring it up. so, they're just plain wrong. they don't know how to do the dynamic scoring. they don't look at behavioral responses of sheltering and tax evasion and they look the a real effects and count that as an offset. they really do a bad job of estimating revenues and always have. go back and look at kennedy cuts and reagan cuts and look what they said would happen and what actually happened. neil: we could do more than the 9% growth. >> we had 8% after reagan's cuts and kennedy had that same range as that as well. neil: and averaged out for ten years, but certainly better than 1.9. >> and we're at 4, 5% growth over ten years and that will be spectacular and revenues will rise and all of these people will keep going trying to argue against tax cuts all the time

because they just don't like them. neil: the president of the united states arrived at the venue cipriani, it's a fund raising event, but he's expected to talk about the tax cut. let's listen. this very happy, donald trump, despite the news on general flynn. he wants to focused on the good news for the american people, he says, let's listen to the president of the united states. >> and hadn't won in many, many years and she was up there working very hard and everybody said, well, you're wasting your times, republicans can't win in michigan, and all of a sudden, polls came in that night and they said donald trump wins michigan, and they said who was that person, who was that woman that did the job and we said you want to come down and run the rnc and tell how we've done on fund raising. >> we've broken--

because of you we have broken every record in the history on rnc. [applaus [applause] >> over $120 million! (applaus (applause). >> great job. outstanding we have a lot of folks that helped with the campaign. we are going to talk about the campaign last night. last night 3:00 in the morning, i said, call me, you can call me. largest tax decrease in the history of our country by far. and where is is he, my friend, where -- [applause] >> you guys look at my friends.

thank you so much, this is incredible. last night we passed in the history of the country, reform. and when we first went into this, they said, it's tax reform because the years not since ronald reagan has anything come close, they haven't passed them. they couldn't pass them, couldn't get the votes and for years, i said, i wonder why they use the word reform? because nobody knows what reform is, reform could mean your taxes are going up and i said to my guys, i called everybody in, and we had a meeting, senators, congress, everybody. i said we have to use the word tax cuts. now, if you want to throw reform, you can say tax cuts and reform, but you have to use the word "cut" because people don't know what reform means. reform could mean your tax is going up. in fact, a lot of people thought thatment for 30 years, 31 years they've been using the word

reform. so we used the word tax cuts and last night, out of 52 republican senators, 51 voted and we ended up doing it and we didn't need our great vice-president to break the tie, mike. we didn't need mike, we didn't need anything. we voted. the democrats left before the vote-- somebody said started, somebody said before it was over. i don't even care, but we got no democrat help and i think that's going to cost them very big in the election because basically they voted against tax cuts. and i don't think politically it's good to vote against tax cuts, but what we're doing is if you look at it, we're going to grow the country. we're going to grow jobs. we're going to be growing everything. we have companies now that are pouring back into our country, even before this, we've just set records in so many different ways. we've set records with every

conceivable-- you know, if you look at it, consumer confidence at a 17-year high. i think it's an all-time high consumer confidence. business confidence, all-time high. everything is like at an all-time high, including the big one, it's called the stock market at an all-time high. [applaus [applause] >> so, i was back stage taking pictures with people far greater than my business people. i love my business people, but these are-- they're called law enforcement people. okay, do we concede, business people? all of my business friends. and one great gentleman came up and he said, sir, i want to thank you. i said what did i do for you? he said my 401(k) is up 40%. and i never thought of it. you know, i tell you, he gave me one of the great campaign lines, it's called how is your 4 01(k)

doing. i could say this, if the dems won the election, in my opinion and i feel strongly about this, the numbers right now, we hit record highs, every day. i think we had 66 times now, where we've hit a record high since the election, 66 times. 66. but if the dems won, and by the way, wasn't it like 306 to 223. that's a big-- right, howard? that's a big -- that's a big difference, (inaudible) >> all right, we have somewhat of a problem of the president addressing the group in midtown, manhattan. hopefully we'll get it back. he's doing some crowing, we'd hear if it was the opposite in the markets. and heralding that. and we'll try to get that tape back, but our capitol hill

producer and chronicling the developments in this wee hour, the vote in the senate. they didn't need the vice-president, did they, chad? >> no, vice-president pence, we got word about 9:15 last night that he was going to come to the capitol and as i reported on your program late yesterday afternoon, you know, we didn't think they were going to need vice-president pence in his capacity as president of the senate to break the tie. when we got word he was coming to the capital. he was there to provide over the vote that was a big deal, which it was. we knew going in several hours before. before 5:00 yesterday we thought the vote was going to be 51-49 and no democrats voting yes and bob corker the only nay on the g.o.p. side of the aisle. so, it went down just as we thought. it went down later than i think the republicans thought, but it's done and now the really hard work begins as they try to fuse the house bill with the senate bill. neil: play that ought for me. schedule it out for me. how is this done?

how quickly do they get it done, all that? >> well, the goal house speaker ryan made clear they wanted it to get done soon. that was a big list considering the fact that they have to keep the government open. the government is funded through next friday night and just this morning, we got the text of the stop gap spending bill to keep the government open. we'll see if we can get through that. there are some hurdles dealing with disaster relief that people in california and others want to put on. the first, mccarthy held the house in on monday, they were not expected to be in on monday night. what you have to do, you have to move to go to conference. you have to create a conference committee where you have representatives from both the house and the senate and they take the house bill and senate bill, and they put it in a big congressional cuisinart blender and mix it together and then make sure and go back to the house and senate with what we call a conference report.

the merged unified version, presuming you can get there, i talked to one administration official last night who thought this was going to be pretty quick. one of the things which on its face you would think would be a problem is the fact that the senate bill has the repeal of the obamacare individual mandate in it. the house did not have that in the bill. the reason the house didn't put it in its bill is because they thought it would be a problem getting the bill to pass. it wasn't an issue at the senate, and you know, administrative officials that i spoke with thought yeah, we think we can get that through the house of representatives. neil: and they have an issue when they can enact the house cuts for the corporations, the senate 2019, and the house of representatives 2018. and the senate is more a hostage of making the numbers match and the house less so. how do they deal with that? >> you have a conference report and some of those things aren't as big as concerned, at least

from the senate perspective. you got through that border wallace night, you know, bypassing the bill. so that's not as much of a concern at this stage. but again, the challenges that i've seen, when they get conference support. you know, you've changed the bill as to what one body passed and sometimes they get caught in some traps where they can't advance that on the floor. everyone i had spoken with leading up to this process thought that christmas would be very ambitious to get that done so we'll see. neil: okay, thank you, buddy, very, very much. chad, again, i apologize for the problems we had with the president's remarks. it could be any one of those protesters outside, but obviously, there are some technical issues of which i am totally unfamiliar. bottom line, he's still speaking and we'll still be reporting.

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duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. >> roy moore is now leading in the polls again in alabaman he could win that race. mitch mcconnell had said he would not be welcomed in the united states senate. do you think he should be thrown

out if he is? >> of course not and i think we've got to respect the will of the voters. neil: all right. that is a sort of a turn in opinion among some, not all, that roy moore, who is in the battle of his life to keep that senate seat in alabama republican, he's even in some polls ahead right now, but already, mitch mcconnell made it clear that he would be persona nongrata if he were elected, not a view shared by ted cruz and others who said if he is who alabama wants, he should be dually a state senator. we're getting ahead of ourselves. and we have jessica, to you on that notion that respect the will of the people, if that's what alabama voters want or who they want, seat him. >> it's complicated, and i do

really sympathize with people on both sides here. the new washington post poll that came out this morning that has jones up, and others-- >> his opponents. >> the democrat to stay out of it, exactly what ted cruz said, we have elections for a reason, we're aware of allegations against him, if he wins, seat him and the tax cuts and other parts of the agenda that they support, they're thinking of judges most of all, but we have this rule that the senate can exspell someone for a reason as well. and i do understand what-- >> usually reasons that don't go back decade, it's a slippery slope. >> it's a slippery slope, but with anything it becomes a slippery slope. if we do that, down the slope. if we do that, down the slope. but i can't see him being that productive a member. i don't know if he'll have good relationships with people in the senate. neil: well, that's not to other

representatives-- >> i would want friends. neil: and this all happens the same week that al franken came back and spoke on the floor of the senate last night to protest the tax cut so he's trying to rebuild himself there, so far so good on that front. john conyers, maybe not so much and the house thought eventually he'll be forced out or at least force today resign. 's saying no to that, but you get the gist here, there are a lot of controversies and scandals, a couple of other congressmen who sent lewd photographs of themselves have opted not to run for reelection. it seems like a mess. what do you do? >> well, it is a mess. i'm not one of those who thinks you should get in the, "but what about" category, what about the other guy? this is reprehensible behavior, it should be noted that franken and congressmen were in office and are serving now so they are subject to the ethics inquiry. ethics inquiries are not designed for behavior that

occurred before one were elected. i wanted roy moore to leave the race, but now that he's in, the will of the voters should be honored. i agree with ted cruz and jessica on this. we've got to deal with trade, deal with north korea, isis. you know, we have a lot on our hands and the last thing we need to be worrying about is trying to stifle the will of voters in a legitimate election. there are a lot of unbecoming people that have been elected to the u.s. senate, believe me, and you know, we had ted kennedy in 1969, left his young lady to suffocate in his submerged car. there wasn't talk about expelling him. that was in office. neil: that's a different time. you're right about that. >> well, look at menendez's behavior. neil: i did, but i'm not going afield here. one of the things i question, jessica, corporate america is pretty blunt with this stuff. it found out, you're out.

and we found out about matt lauer, and congress takes a while to go through some of these things. is there a happy medium? is there or should there be? >> i hope so. i think what's going on in congress is appalling. if you listen to comstock and rice, giving what they exposed about how the system-- >> no one seemed to know about it. >> i think that john conyers knew about it, and an 84,000 settlement that's not getting much buzz when we talk about what the democrats have done wrong. neil: who writes the check? >> we write the check, but-- john conyers went a step further to appropriate his office funds, which is a huge problem. this is fundamentally why americans hate washington, that they're taking our taxpayer money-- >> both sides are feeding the beast. >> absolutely, and this is what donald trump tapped into, it's a

swamp issue and that corporate america, the private sector runs better than the public sector, which is bad for the democrats since we are bigger, per se. and we need-- >> and that's what i want to end on with you. you're a marketer and capitalist and all, do you think that the private sector goes too far? that, you know, if allegations come out, the person being alleged is out? >> well, i don't subscribe to the believe the accuser. i subscribe to take the accuser seriously school. because you should always have due process. the problem is, neil, we have two issues going, leading up to this plethora of sexual misconduct allegations. a lot of people wouldn't come forward. they were too fearful, thought it would wreck their careers. number two, they weren't taken seriously, even the ones that did come forward and we saw that

with the nbc situation. i do think jessica makes a great point. the private sector, imperfect as it is as we've seen with the matt lauer situation with nbc, overall is doing a heck of a lot better job and it's pa thetic that our elected representatives are hiding and engaging in this kind of behavior and then the account bability and transparen is even less than with major corporations. . neil: i appreciate it, with all of this breaking news. i want to let you know out of the breaking news, concerning the president. we were at the event. without getting into the details, but i think he can, people are e-mailing me, hey, what's happening with trump and saying you're a never-trum per, and we didn't think we were vulnerable to this stuff. this is at the cipriani event. that was meant to be a spray of the roux many.

and we hear the remarks and then cut him off. it was not intent to listen to the full feed. it was pulled and said that's all you networks are getting so they pulled at the same time in the middle of the president's remarks, it was a fundraiser, and that was that. so no-- we did wonder about the protesters, whether there was a plug nearby. apparently, that was not the case. now, in the meantime, you've heard a great deal about this illegal immigrant and the kate steinle death, getting off on murder charges there. there's a move afoot to make sure that he stays here and gets held up here before we deport him back to mexico. but it's not that simple and doesn't come across at that way, certainly a lot of mainstream media that even identify him as an illegal immigrant, which he was. the florida attorney general pam bondy. pam, your concern is that we sluffed off who he was and is, right? >> well, of course, and, neil, the first thing i've always got to say, i've been a prosecutor

since my early 20's, we have the greatest justice system in the world. did it fail this time. >> yes. >> did it fail miserably. yes, he was an illegal alien and that's to put it mildly. he was on supervised release for having entered our country inlegally when this, in my opinion, murder occurred. the jury-- let me tell you what's going to happen. he's not going to get off easy now that the federal authorities have him and ice has jumped in and sessions has jumped in. he should have still been behind bars. he was on supervised release. so he could get for the charges he was convicted of on what should have been the murder of kate steinle, he can get three years. he was only convicted of a firearm offense. and now that the authorities have him. they'll most likely charge him

with violating supervised release, three charges. they can charge him in federal court, no double-jeopardy, concurrent jurisdiction, 922-g which is a felon being in the possession of a firearm in our conduct. so, for that charge, he can get up to ten years and they can run that consecutive to the three, and the feds are going to hold him. then he goes back to state court, serves his three that he's going to get on what should have been the murder of kate, before he's deported back to mexico again. so, he's got quite a-- >> they never ran this by ins. our justice system is great no doubt it is and meantime things come up-- >> a failed. neil: clearly a disaster. one thing i thought about, if ins was going to deport, 24 hours later the justice department saying no, we're not. obviously those two are not communicating? >> you had a great interview

with the homeland director of ice. they had a warrant for him. california state authorities released him and-- >> and he had a criminal record. yes. neil: so if they would have shared that with local ins officials. >> they had an obligation to and they're hiding under the guise of a sanctuary city. they did not reveal that. we all live upped the laws of our country. they did not follow those laws and claiming they're a sanctuary city or sanctuary state, whatever, ice had a warrant and they did not do that. this horrible murder could have been prevented. this family, the prosecutor, that's what it's all about, this family and this father who had to watch this beautiful young woman with an incredible future in front of her basically die in his arms, and this could have been prevented and that sheriff by the way did not get reelected

to my understanding. now the federal authors have them. neil: pam bondi, from florida. the it r can fill out a card. and the president loved it when and now maybe you can write them all out on a card. and kevin brady is here and only here after this. duncan just protected his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $28 a month. less than $1 a day! his secret? selectquote.