>> bloomberg reporter laura davidson, and the washington post's reporter discusses the tax reform bill released wednesday, and its affect on taxpayers. be sure to watch washington journal this morning. join the discussion. this morning, we take a look at tax reform in the proposal the republicans released yesterday. we will hear from paul ryan in the chair of the wings and -- the ways and means committee. and democratic leaders respond to the proposal. first, an overview from the press gallery. host: house republicans unveiled their tax reform bill. we're joined by aaron lorenzo for politico, this has been a priority of speaker ryan and the ways and means chair, kevin brady. how did this tax reform bill come about? what was the process like? guest: it's been a busy year on the committee and with leadership. they have coordinated with their senate counterparts around officials from the white house. es

and coming up in about 30 minutes, bloomberg tax reporter laura davidson and washington posts might the bonus will discuss the tax reform bill and its host: good morning on this friday. a house republicans unveiled their long awaited tax proposal. they wanted to reduce the number of tax brackets from 74, lowering the corporate tax rate in giving businesses other tax reductions. thepresident has endorsed planet, but others are not on board. we will get your take on plan. here are the phone numbers. democrats dial in at

here now with the latest is laura davidson.apitol hill reporter for bloomberg tax, a division of bloomberg that derives news, in-depth analysis, primary sources and practice tools for dealing with international tax issues. welcome. we need all of that. practical news, tips, tell us what is going on with tax reform. they: over in the senate will begin the market. the senate finance committee will be going through blind byline of their bill and senators can offer amendments. we expect to see changes on the senate side, particularly the taxation. the scorekeepers came out with their analysis. it shows middle and upper middle income people as much as 30% could see a tax increase. we expect a lot of pushback from democrats. numbers are not showing that. over in the house, they are prepping for a vote. tonight they will begin counting the members of the house, they need to get their caucus on board. they can lose 20, 22 members. there are some republicans from new york, new jersey, california who are looking at state and local tax re

. >>> coming up friday morning bloomberg tax reporter laura davidson and "the washington post" mike devones discuss the tax reform republican bill released today and its potential impact on taxpayers. live at 7:00 eastern friday morning. join the discussion. >>> president trump is heading to asia with stops in japan, south korea, china, vietnam and the philippines. in south korea he'll visit with troops at camp hum fraez and adra thesz the nation-- on his japan he'll make a stop in hawaii to visit pearl harbor and the uss arizona memorial. following this week's terror attack a justice department immigration official testified before a house judiciary

. >>> coming up friday morning bloomberg tax reporter laura davidson and "the washington post" mike devones discuss the tax reform republican bill released today and its potential impact on taxpayers. live at 7:00 eastern friday morning. join the discussion. >>> president trump is heading to asia with stops in japan, south korea, china, vietnam and the philippines. in south korea he'll visit with troops at camp hum fraez and adra thesz the nation-- on his japan he'll make a stop in hawaii to visit pearl harbor and the uss arizona memorial. following this week's terror attack a justice department immigration official testified before a house judiciary subcommittee that oversees immigration. he said the trump administration would have to double the number of immigration judges to work through the large number of pending cases. >>> the subcommittee on immigration and border security will come to order. without objection the chair's authorized to declare recesses of the committee at any time. we welcome everyone to today's hearing on oversight of the executive officeor

scarlet: let's bring in laura davidson and alex wayne from washington. there has been movement on the tax overhaul plan. laura, let me start with you. apparently republicans have raise deductions for pass-through businesses. this is a sticking point for a number of senators. 22%, sohey raised it to the pastor is get a bigger tax break. this is a big deal, something that two senators in particular pushed for -- steve daines in montana, and ron johnson of wisconsin. they said earlier this week we cannot vote for the bill must we get this. they got it. the senate later today is supposed to vote on a motion to proceed, a vote to start debate on a tax bill. it is delayed a little bit. folks are working on making sure this bill is competitive -- ruleiant with the byrd that does not add to the deficit outside of a 10-year window, and the other thing people are wait about is this trigger -- this automatic thing that could increase taxes if growth targets aren't met. that is a big topic of discussion. we're not sure how that --they're going to source that out. jul

joining us is laura davidson. let's talk about the senate this isommittee, ordinarily be mere formality, but you have a number of dissident republicans saying we've a problem and we want to push for change. where does that leave the vote this afternoon, and how tight could it be? laura: there's a lot of last-minute dealmaking happening in the capital. senators are meeting with president trump and having their weekly lunch, but staffers are meeting in the basement trying to hash out a deal to get senator bob corker and senator ron johnson to vote for the bill in the senate budget committee. they need all the republicans to vote for the bill, there are 12 public and 11 democrats. they need everyone to move in lockstep. they're working on deficit issues to satisfy bob corker as well as a tax issue to get more tax cuts to small businesses to appease ron johnson. we will see if they are able to get to that. very fast timeline, meeting early this morning to hash that out. we could see a delay and the senate budget commi

julie: joining us is kevin cirilli and laura davidson. kevin, i want to start with you. we look at that outburst. tempers flaring. day, if thef the democrats are criticizing republicans, it does not matter because they will not vote for it anyway. was onoh the drama, it full display late into the evening. then the senate finance committee move the tax bill out of committee, moving it now to the week after thanksgiving. but you're absolutely correct. the provisions like between the differences of the house and the senate bill. look, there are a lot of questions being raised here. senator john mccain, no stranger to someone who isn't afraid to book the white house leadership, he is saying he is raising concerns he doesn't believe this is following a process known as regular order. in addition to all of the issues of the individual mandate repeal , this thing is far from over, but the sources i talked with said if it does not get done by the end of the year, it will likely get done by january. julie: there does seem to the determination to get it done. laura, we heard kevin

that was laura davidson of bloomberg tax.: it is time for the bloomberg business flash, a look at the biggest business stories right now. , bravo is buying barracuda network for $1.6 billion. it 16% higher than barracuda's closing price on friday. barracuda offers cloud-based security and data protection plans. the transaction is expected to close next year. cable companies have a new strategy when it comes to streaming video services such as hulu. if you can't beat them, join them. operators comcast and charter are in talks to offer hulu through their set-top boxes. viewed theanies once streaming companies as existential threats to their businesses. that is your business flash update. the companyl ahead, that owns fortune and people magazine will have the owners. among those owners are the koch brothers. meredith buying time inc. for $1.8 billion in cash. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i vonnie quinn. julie: i am julie hyman. on wall street its merger monday and it's time for the merger report. mer

we are joined by alex and laura davidson, who is a reporter for bloomberg, she is on capitol hill. alex, we will start with you. ron johnson is a no. the president is trying to lobby members of congress on this. what do you think will be the outcome? we were told earlier that they can only afford two no's. no onron johnson was a obamacare repeal, until he wasn't, he ended up voting for it. the white house thinks they can get him on board. donald trump is at the capital today talking to house republicans about their bill, which goes to the floor this afternoon for a vote. the white house is confident they will have the votes in the house to get it through the chamber and as you said, the senate kind of a mystery right now, we do not know what they will vote on. shery: hold on one moment. we have kevin cirilli there on the hill with a congressman, congressman cole of oklahoma. kevin: we are here with the congressman. what did you and the president and the caucus talk about? it was the president speaking to the caucus. pretty exciting. it is a historic day for us, people have been wor

let's bring in laura davidson from d.c. this morning.s been interesting, we got what we were expecting with this cut in the corporate tax rate to 20%. but the market reaction was underwhelming. traders aree doubting this would get done by christmas. laura: it has been priced in a little bit. we have been talking about this since january, when trump was elected. we now have more detail. but these topline numbers are pretty much the same. now companies are modeling that they have the details in the fine print and they can say, are better-- will i f or the same? what is likely not going to survive? laura: it is a lot of give-and-take. one thing that is tenuous is whether or not that corporate rate is going to be permanent. it might pass the house, that 20% in perpetuity. but when he gets to the senate, there are stricter rules on how much they can add to the deficit. that is one of the first things they can take -- tweak with. it is easy to kick the can and say in 10 years, congress will act on it. who is to say if they will. betty: the oth

and coming up in about 30 minutes, bloomberg tax reporter laura davidson and washington posts might the bonus will discuss the tax reform bill and its host: good morning on this friday. a house republicans unveiled their long awaited tax proposal. they wanted to reduce the number of tax brackets from 74, lowering the corporate tax rate in giving businesses other tax reductions. thepresident has endorsed planet, but others are not on board. we will get your take on plan. here are the phone numbers. .emocrats dial in at join us on twitter as well. you can post your comments on facebook. the phone lines are open so start dow it in. we will begin with the president yesterday who had the committee over at the white house. this is what he had to say. >> we are working to give the american people a giant tax cut for christmas. we are giving them a big beautiful christmas present in the form of a tremendous tax cut. it will be the biggest cut in the history of our country. it will create jobs. today, the house ways and means committee unveils a tax reform bill that will create tremendous prospe

davidson. put a tariff. >> laura: saved harley. >> president was sitting up on harley hog. >> laura: skinny ponytailsood thing. let's talk about special counsel probe. when you have a low level guy who is a volunteer. he was on one of these foreign policy boards. i have never heard of him before. george papadopoulos, they wired him up, it turns out, and they sent him out to try to set up meetings with trump campaign folk and so forth. he pled back in early little october. he started cooperating back in july. >> right. >> laura: could this be a real problem for the trump agenda? >> let me just say, this look. even with papadopoulos there is no underlies crime. even if he had knowledge the russians told me they have all these emails and going to dump up them, it's 2309 a crime. his crime is lying. there is no underlying crime in this whole alleged collusion conspiracy and there is no collusion between trump and putin. but there is a problem if people, you call people on the phone and you got that wire on and he's been told what to say. this is the reason problem i think for the trump administration leg

davidson, bloomberg's congressional tax reporter. bloomberg's congressional tax reporter. let's talk about the vote. . laurae are three thing still wrong with the bill. susan collins is expressing concerns that it is something that can take up to get the bill through. another is small business taxes, pass-through taxes. ron johnson is concerned about that. the problem is both these things require revenue, money. this could be to the tune of several hundred billion dollars. maybe that means they have to raise the corporate tax rate a percentage point of the 21% or 22%. ga.ple are calling it jen yet to make sure the whole tower does not fall. jeng: i did not wait any yesterday but never my see maybe i should havea. 8122. the effects of personal income tax rates and corporate tax rates have gotten closer together. when you talk about the potential for raising that corporate tax rate, i'm curious, in your reporting when you talk to the folks on capitol hill, for that push away any republican senators? is there a line in the sand? the white house is saying we wanted it even lower than that, 20%. how serious a re

davidson. president reagan understood that tariffs were well-deployed. >> let your viewers know -- >> laura: this is fascinating for a san francisco liberal to try to define conservatism. i won't try to define -- >> you failed. that's the things. >> laura: i understand that nationalism and a -- we appreciate it. still ahead, the first dreamer deported under president trump gets busted a again for trying to illegally enter the u.s. maybe he's going to san francisco. it's proving a big lesson for immigration. we're going to take a break and debate that next. of green mountain coffee roasters sumatra reserve. let's go to sumatra. the coffee here is amazing. because the volcanic soil is amazing. so we give farmers like win more plants. to grow more delicious coffee. which helps provide for win's family. all, for a smoother tasting cup of coffee. green mountain coffee roasters. thanks for the ride-along, captain! i've never been in one of these before, even though geico has been- ohhh. ooh ohh here we go, here we go. you got cut off there, what were you saying? oooo. oh no no. maybe that geico has bee

davidson. president reagan understood that tariffs were well-deployed. >> let your viewers know -- >> laura: thisating for a san francisco liberal to try to define conservatism. i won't try to define -- >> you failed. that's the things. >> laura: i understand that nationalism and a -- we appreciate it. still ahead, the first dreamer deported under president trump gets busted a again for trying to illegally enter the u.s. maybe he's going to san francisco. it's proving a big lesson for immigration. we're going to take a break and debate that next. in the modern world, it pays to switch things up. and when you switch to esurance, you can save time, worry, hassle, and yup, money. in fact, drivers who switched from geico to esurance saved hundreds. that's auto and home insurance for the modern world. esurance. an allstate company. click or call. but he hasoke up wwork to do.in. so he took aleve. if he'd taken tylenol, he'd be stopping for more pills right now. only aleve has the strength to stop tough pain for up to 12 hours with just one pill. aleve. all day strong. ththe next energyngs toto power o