reporter: there was another big admission from the administration today, that came in the for of gary cohn. in an ininterview in washington with axios, cohn said the one thing he could change, the administration could change should they have been given the opportunity to do so to get rid of the carried interest loophole but cohn contended it was not possible because of the pushback on capitol hill. >> we would have cut carried interest. we've been trying to cut carried interest, probably tried 25 times. reporter: here at the white house 3:00 we get the ceremony. important to note it is not a signing ceremony. this will not happen today. this is merely a celebratory victory lap. we're told it could take until tuesday of next week for the president to actually receive this bill and until, because of how big this is and the government processes that have to take place so it is still undetermined at this point exactly when the president might sign it and exactly where. ashley? ashley: the party is beginning nevertheless, blake burman, thank you very much at the white house. "the wall street jo

maybe next time. >> we could go a lot longer with gary cohn.interesting comments this morning when we come back here, leon cooperman revealing the details of a private conversation he had with the president, and why mr. trump is asking around about amazon k t see wl t"ilbe back after this. >>> leon cooperman talked to scott whop napner yesterday. he said during a dinner with the president, he asked about amazon >> amazon is a class company that is gaining strength they out-executed everybody. the major risk to amazon, i guess i can say this with ten other people at dinner, i was hosted by the president and the white house in mid-july, twice he asked me if i thought amazon was a monopoly >> the president asked you >> yes i said, no, i don't think it was. >> we talked with gary cohn about the president's interest in amazon in the last hour here's what he told us >> i think the president's curious about lots of different businesses and what's going on economically and competitively in the united states the president is very inquisitive about lots

>> gary cohn saying, why aren't the hands up. corporations are sitting on a ton of cash. why aren't they raising wages and creating jobs now? >> about $3 trillion of that cash is trapped overseas and cannot come back into our economy to be reinvested because of our tax laws. you remove these barriers to investment in our economy. you give businesses an incentive to invest in america, in their factorie s. and that's what we do. so, look. savannah, the tax rate before this bill passes is 35%. that's the highest in the industrialized world. the rest of our competers tax their companies at 22.5%. ireland is $20.5%. when we tax businesses at higher tax rates than our foreign competitors are taxing theirs, we're losing and they're gaining. what's more important is american businesses are moving overseas. they're not even american companies anymore. this is a trend that has to be reversed. and we know that if we fix these tax laws, we will get reinvestment back in this economy. the anecdotes -- i will tell you every study under the sun shows us, you lower the tax rates, you will

gary -- gary cohn had a lot to say.tax cuts are not fully priced into the stock market. john layfield, i took that to mean gary cohn think we have another leg up when the tax-cut bite. what say you? >> with all due respect i respect gary cohn but they have been priced in up to now, looking at the market run-up recessed in august, the majority have been priced in but funding, fundamentals of the economy driving the market is very strong, the market is trending up, i don't think it will be trending up on tax cuts. stuart: it is growth that gets a leg up for the market as opposed to the tax cuts which are priced in. conflicting views on the technology stocks. we have a wall street journal headline that says the tax plan could hit but also this money coming back into america which i will go towards shareholder repurchases and bigger dividends. where are you on this deal? do you think it is good or bad for big tech? >> good overall. the article is well written, when without repatriation, you have tax havens that get hurt in

>> gary cohn was wondering why aren't the other hands up? because they're going to most likely the guess is give it to their shareholders and dividends and stocks buy back. >> now, that might be good for gary cohn's job prospects. i think taking down the corporate tax rate to a level that's competitive in the world. it's not right now. it's 35%. one of the highest in the world. three other countries beat us to something like 20% is a good thing. but let's be also clear. corporate ceos and boards have the fiduciary responsibility not to their workers. they have a fiduciary responsibility to their shareholders. so what they do with that money first is to help shareholders and buy backs are the fastest way to help shareholders right off the bat. that doesn't mean it won't go in the future. but clearly, you know, it's going to be buy back city here, which is why the markets are going to 25,000, by the way. >> yeah. well, right now, we're at 24,515. >> i know. liz: great job. charlie, stay for this thing. because you weren't here with them yester

gary cohn was quoted as saying that people can do amazing things and renovate their homes and get new refrigerators with $1,000. i don't think he's been shopping for a carton of milk recently. but the fact is that there are very few independent economists who predict the kind of impact on wages that would really matter to the base of donald trump. robert: what about the healthcare law? republicans, as they were at the white house, they were cheering that, in a sense, they repealed the affordable care act, president obama's current healthcare law. but how much of this tax bill does it actually deal with healthcare, does it actually gut current law? yamiche: it doesn't gut current law but if you want to be able to say we were able to do taxes and healthcare in one bill, you can superficially say we got a lot of stuff done the democrats said we wouldn't get done but essentially the individual mandate, the part that said you have to buy health insurance, that was the most unpopular part of the bill. people didn't like the fact that the government was telling them you have to do this but t

thank gary cohn and steve mnuchin from the president's team to get us here. [applause] the speaker: i thank mitch mcconnell and these two chairmen, orrin hatch and kevin brady. thanks for your leadership on this. [applause] the speaker: it is really simple. the message to the hard-working message to the american taxpayer is your relief is on its way. the message to the families who have been struggling paycheck to paycheck, your paychecks are going up. this is the kind of relief that americans deserve. this is the kind of tax reform and tax cuts that gets our economy growing to reach its potential. this gets us better wages, bigger paychecks, a simpler tax system. this gets the american economy competitive in the global economy. this is one of the most important things we could do for all of the people we represent. this is the -- generational. and we are so excited that we are going to launch next year this fantastic tax reform so that the american people can see how we can truly reach our economic growth and our economic potential and if it weren't for all

pierpont welcome to the action stage gary cohn. [applause] gary, thank you so much for coming in. appreciate it and we appreciate you reading axios and are smart brevity. witnessing offstage when you're in a private sector you have a rule about meetings. >> i had lots of rules. i have wrote about everything. >> but about memos. >> i have rules about meetings. he was asking a private sector versus public safety. in the private sector you couldn't have a memo longer than three pages. can have powerpoint more than ten pages. it's harder to say something concisely but there's always just one message or two messages you're trying to deliver. it forced you to get to the appointment of the quickly and force the conversation to where you want it to go. >> this was supposed to be the morning after the width of the would be on the president's desk, taxi from has one more hoops to jump speedy little little tiny, tiny hoop. >> when are you going to talk worrying? >> i am almost stopping now. last night was a huge night. if you put things in perspective to where we are and what we are this poi

at least one key person weighing in on that question today, council of economics chair gary cohn who said this earlier >> if you look and what the tax plan is going to do, i don't think that's factored in you can take an interesting basket of high-tech stocks and low-tech stocks, and they are not doing what you think they are doing. you would think that the high tax stocks would be outperforming the low tax stocks it's not happening, so i think there's a lot more momentum in the stock market. >> doc, gary cohn said it's not priced in. a lot more momentum. >> the question i posed yesterday, right, that to dubravko when he's on the set and i said i don't think it's being priced in enough yet do you think so? i think he was saying a tenth, maybe two, so i don't think that's enough. i think mr. cohn is like that we're more likely to see people adjusting based on what they see out of this particular in particular when we start to see boards with pressure on them, scott, to bring money back, the repatriation part and the 14% tax on that, not just the 21% tax on corporations, but the repatr

gary cohn. ivanka trump, legislative team. all the members of this cabinet who partnered to drive your vision forward over the past six months after you laid out that vision for tax reform. but, mostly, mr. president, i will end where i began and just tell you i want to thank you, mr. president. i want to thank you for speaking on behalf of and fighting every day for the forgotten men and women of america. because of your determination, because of your leadership, the forgotten men and women of america are forgotten no more and we are making america great again. >> thank you. >> thank you, mr. president,

>> certainly gary cohn seemed optimistic about it. hopefully we can get there.t concerned that i didn't hear gary cohn the need to address obamacare next year. if it's one thing that's going to haul back economic prosperity and security for middle-class americans is that obamacare is going to continue to hang over their head. i think we really have to get that addressed in the early part of next year if we want to see sustained growth and economic security in the country. stuart: individual mandate is going to go, isn't it? the individual mandate is going? >> the individual mandate is going to be wiped away in tax bill and that's a very good thing the problem is that people are still going to be buying plans, the only plans left have the absurd regulation that is obamacare put on what insurance products could be that drive up costs. so you're making people, giving them the choice to buy plans that don't fit what they need because insurance are not allowed to sell plans other than that. that's the the plan we have to address. stuart: we look forward next year and

scarlet: i do think that this very much ties to the pr exercise and gary cohn saying that look, they were successful, they tried 25 times to hold this out, but my understanding is that you now have to hold the assets to three years, not one year. are there many hedge funds out there that hold assets for three years? it does seem to have an impacted by these rules. jonathan: i don't think any voters are shedding tears for the hedge fund managers who are impacted slightly by the change. i think it would have been a symbolic victory, tangible for president to claim a populist provision that he can sell directly to voters. but that did not happen. they are relying on the standard deduction and increase in child tax credit as the major piece of middle income tax benefits. there will be republicans in high tax local states that will be facing unhappy constituents with swing districts, districts that democrats are very eager to target. where they are favored to take back a number of seats. we started scarlet: the week knowing that it would be critical for the white house. that congresse nee

tonight on c-span2, interviews with senator mark warner of virginia and white house economic advisor gary cohn. former secretary of state madeleine albright and other foreign policy analysts discuss u.s. global leadership. and later, a house hearing on funding for downs syndrome research. >>> thursday morning senator mark wearn told an interviewer that he believes congress in 2018 will pass a bill to fix problems with the tax reform bill. he also answered questions about the russia investigation and next year's midterm elections. the interviewer is mike allen of axios. this is a half hour. >> morning and welcome to the festive edition of axios news shapers. [applause] hope you enjoyed the hot chocolate bar on the way in. holly reuben and her team had for us, we love the christmas music as well. welcome to c-span. thank you, c-span, for being here, and welcome to the c-span audience, and welcome all of you. axios is here to make you smarter, faster on the topics that matter, and we follow the same format with our events, bringing smart brevity to bring you into the worlds of business, tech, med

reporter: that essentially the optimistic case there from gary cohn at the white house.resentatives, the republicans we're told do have a plan that will be talked about at the top of the hour. it essentially would be a stopgap funding bill that gets us through the 19th of january. limited measures to boost the military included as part of that. they would tricep rattily to move on $81 billion for disaster relief funding there. are other issues, some on the senate side. for example, there are paygo rules you hear about, basically require tax cuts be paid for. there needs to be a waiver there. so the president can sign the tax cut bill. question, will the emdemocrats stand inútae way? once again watch. >> just as we've done in the past we need to pass a routine paygo waiver to avoid a draconian sequester. americans are counting on us not to inflict cuts on medicare and other essential operations. i look forward to working together the coming days to fund our government in a manner that does right by the american people. reporter: so each party certainly has their issues. t

gary cohn spoke about it moments ago. 10-year yield is at least a nine-month high getting above 2.48ur roadmap begins with futures on the rise as the tax bill passes the senate set to pass the house again. we'll get the latest on what the highly controversial plan means for business and individuals. >> fedex shares are up on strong earnings and ceo laying out how he believes the new tax plan will benefit his country. >> bitcoin in bear market territory. we'll look what's driving the wild xring swings and one crypto is out. >> one step away from the president's desk, the senate pass the gop bill along party lines after amending it because of a procedural snag legislation goes back to the house for a revote slated to take place in a few hours. the president will hold a news conference afterward gary cohn, the chief white house economic adviser spoke to mike allen a few moments ago. this is what he said about taxes and how the stock market is spend responding. >> i think there's more momentum in the stock market. >> what do those two baskets tell you >> that tax cuts are not priced in t

curve >> we checked in with gary cohn this morning on the jobs number and the tax bill in conference the degree on which there may be movement in that salt deduction as they talk over the weekend. here's what he said. >> i've heard the salt, state and local tax deduction argument many, many times we are concerned about that. this morning we were talking about the s.a.l.t. issue, and what the potential s.a.l.t. fixes are. there are 70 members of the house from s.a.l.t. states they have to have a solution to allow residents to come away with this in a position that allows members to support this no one wants to see tax increases. that's not what we're trying to do we're trying to simplify the system and make the system fair for everyone >> michael, this is obviously part of a big economic and political debate the impact on income polarity, on migration, on dynamic cities and economies, how relevant is it to you? >> so, i think the question here is, as you say, to what extent does this induce migration away from high tax states, which, you know, for some financially vulnerable municipal

gary cohn speaking with a reported today.nomic advisor to the president, saying the republican tax plan will create wage and economic growth, says he expects another quarter of gdp growth of more than 3% in the u.s., expect equity markets to rally, ongoing rally in which result to the tax cut. he says he is not worried about stocks being too hot despite much discussion about whether we are heading into very frothy times. david: i have an unfair question on my mind. how much longer will gary cohn stay in the job? what he really wanted was this tax legislation. what is his next job? it is interesting what is next for gary cohn. turning to david miliband, the international rescue committee president and ceo. he focuses on refugees but earlier he was the british foreign minister. when it comes to brexit, both of his responsibilities come into play. concern about immigrants was front and center in the referendum. sides seem to be playing hardball. every trade agreement is actually a disposal agreement during the parties concerned.

so i saw a lot of time on behalf of the administration and with members of the administration, gary cohn, secretary mnuchin, our whole team on the hill and talking with different senators. and he had real integrity around this processes. so i will say that for sure. he had his concerns. he felt that his concerns were adequately addressed, and he really believed that tax relief coupled with deregulatory actions will create the growth that will start to erode and ultimately eliminate national debt that has been incurred over the last several decades. brian: he never asked for a corker kick back on some pass through companies that have been talked about, am i correct? that's not something that you worked out? >> no. absolutely not. ainsley: ivanka, if you know -- go ahead. >> i will say that leadership was really incredible in congress. so i had the privilege of meeting many people for the first time and cementing relationships with many others. whether it was senator scott who you were talking about earlier who was a true champion for working families from the very first meeting i had with

and then there is gary cohn. >> why is this bill so unpopular? i don't know abouk. >> this hour we're talking to the man in charge of passing the president's administratived agen agenda, marc short will join us live. and we're hoping to talk with the president. we know congressional republicans are headed here as the president has promised and afternoon news conference if this tax bill passes. a victory lap for sure, but taxes aren't the only thing on folks' minds. what he will say is anybody's guess. big day and that is why we are here. kasie hunt is over on capitol hill though. nuts and bolts here. tell us about the vote redo and the timing and expectations are nothing will change, right? the tax bill will still pass probably by midday. >> reporter: that's right. this is more of an embarrassing/and you cembarras / embarrassing/awkward hiccup. they knew that this could happen. it got sent to the senate and they said there are a handful of provisions that don't meet senate budget rules. and those are important because republicans only had -- they

gary cohn said they have about $200 billion to play with to leverage into a $1 trillion. debate whether that's true or not, but what you're first looking at is, is there any fiscal responsibility at this point or not? infrastructure is clearly important, but as you said earlier in the week, they kept in things like carried interest. created offsets. it begging the question even if you wanted to begin putting together a major infrastructure package, where are the resources to do that? it's not clear they're there. >> elana, people want it. we know. we see it in construction problems every day in our world. republicans and democrats. we'll have terrific democratic support. infrastructure sometimes means different things to republicans and democrats. >> yes. and the whole idea gary cohn putforth $200 billion leveraged into $1 trillion, democrats said during inauguration they don't like that idea. unveiled a $1 trillion direct spending plan. no tax credits to developers just the money. democrats unveiled that in january. it is pretty far from the truth, to say that republican

yesterday in an axios event, the white house economic adviser, gary cohn said we're not near the topf what could be this rally. he said as a result of these tax cuts he expects more ceos do this because of fundamentals and new incentives >> so i've also seen that -- i see one day republicans are out raising for 2018 the next day democrats are out raising. then they have this spread in the generic preference then the people polled were 15% more democrats i'm not sure what to believe at this point i know it's really divided i'm not sure what i would be saying as a democrat what do they have to hope for. they have to hope for this not to work, don't they? if this works, how can they hope this really generates 3%, 4% growth when that would be not a positive for 2018 for them >> two things. one, republicans are starting in a hole on this when you talk about this tax cut being -- this tax reform being unpopular at this moment, it's not just unpopular i look back, it's less popular than t.a.r.p. was, the bank bailout. and if you look back to the clinton and bush 41 years, this tax cut is le

. >> he also interviewed gary cohn the talked about texaco in the top administration agenda for 2018 which includes infrastructure spending and welfare reform. this is 40 minutes. [applause] >> gary, thank you for coming in. appreciate it. we appreciate you and learn to sing offstage that when you were in the private sector you had a rule about meetings. >> i had lots of rules! >> had a rule about memos. >> rules about meetings. i was telling mike, he was asked me about the private sector i in the public sector. i sit in the private sector you can have a memo longer than three pages and a powerpoint longer than 10 pages exactly hard to say something concisely but there's always one message or two messages you're trying to deliver. an exit force you to get the point relatively quickly and force the conversation to where you want it to go. >> this was a positive morning after. we thought this would be in the presence desk, that bill. >> little, little, tiny, tiny. >> 20 going to stop worrying? >> i'm almost stopping worrying now. last night was a huge night. if you put things in perspec

gary cohn was in favor of ending the tax break when mnuchin wanted to keep it. hedge fund managers -- here is sahil. they will put up a graphic to show the three positions because it gets a little complicated. the question is what the right is? it is 23.8%. long-term capital gains rate if you keep it for a year. nhat apparently mr. coh wanted to hold it for three years. of mr. mnuchin wanted was the 23 point percent and yet the holder for one year. out of this come about? ahil: the real dispute is a fund managers should get that preferential rate on their income. in some cases real estate should get that preferential rate as opposed to real regular wage income which is taxed higher. the class was gary cohn wanted to eliminate the tax break as president trump repeatedly promised on the campaign trail. steve mnuchin did not want to eliminate it. you wanted to reserve in some form. he talked about a potential compromise or it could be removed from hedge funds been a private equity. what happened was republican tax writers did not have much of an appetite to elimina

particularly on gary cohn's side.s might have been more my understanding from the administration, the dynamic within the groups is that the republican senators, several of whom never the president in early december and continue to lobby at the white house. an interesting anecdote is that navarroller and peter tried to stop that meeting from being held in the first place. the president would not have these pro-free-trade republicans in his ear. they try to stop them from meeting with the president. ultimately john kelly allowed the meeting to occur and streamlined it so they could actually have a take place. it depends on who is in the president's ear at any given moment. there are two different factions in the white house saying let's take this aggressive stance on trade versus the others who are the traditional republicans who enjoy free trade and very much want nafta to continue. i would reiterate the agriculture senators, the agriculture interests are the ones who are extraordinarily concerned about the potential t

treasury secretary secretary and gary cohn laid out the tax reform framework back in april. president trump applauding his republican colleagues for passion what he says is the largest tax cut in history. he's also applauding big businesses for taking first steps to implement changes. these companies will all benefit from the corporate thanks rate dropping from 35% to 21%. at&t is paying a $1,000 bonus to all employees. boeing investing $300 mill in charitable donations and workplace investment. comcast dishing out $1,000 in bonuses to 100,000 employees and investing $50 billion in infrastructure. fifth third and wells fargo hiking their minimum wages to $15 an hour. the market celebrating this tax overhaul. all three major markets closing in the green for the week. robust business spending fueling the economy in the third quarter. growing at a rate of 3.2%. turning back to markets. wall street celebrating tax reform after betting big on it all year long. the nasdaq and s & p all up. my market guest, ryan payne. let's look back at the year that was. it wasn't just all antici

the white house won't say anything else about it other than what gary cohn cede today real quick, they are also working on the state and local tax deductions that's an unresolved issue on the tax hike they're trying to find some pay fors in order to reduce some deductions into the process. not clear where all that is going to land. >> all right thank you very much. the question is, what does all this stuff mean for the market let's bring in cnbc contributors the economy is unambiguously good and the good news is some of the gains we saw is moving into the midwest from a monetary perspective, the dow up 24% in 12 months do you believe the market has priced in all this good news >> i think it's reflective of everything that's happened we've got decent domestic growth labor market is at or near full employment and the fed is likely to raise rates more tax reform i would argue and i will argue in a piece upcoming is maybe contractuary. they g l get a tax hike, not a tax cut. so i'm not sure it's going to be all that stimlative. but the global economy is the biggest piece that's drive iing.

they have given up their own right, gary cohn, steve mnuchin. they want to serve the country. mr. mnuchin, if you want to safety country, i know this is in the weeds thing, take a look and get rid of it. go to the irs, issue a new opinion. if you do, theç irs says we'll get rid of carried interest, that saves us, the american taxpayers, you me, everybody else, $180 billion over two years. guess what, trish that would be 1/5 what we're talking about spending on infrastructure. so get rid of the carried interest thing and go build bridges. that is what we're trying to do here. trish: steve mnuchin trying to tell me it is not that much money. it is a lot of money to your point, that is 1/5, absolutely a lot of money. as i said, even if it were just one dollar in principle they need to fix it. so i hope they do. adam, well-said. >> thank you, trish. trish: see you at 7:00 tonight on -- i'm like triple header today. >> what do you call yourself? you're said you're a dog with a bone on this one, well you should be. trish: this story we've got to stay on this i want to make sure that th

very close with gary cohn.commuting back and forth this whole time in washington and new york, to her daughters. she has been very active. you have seen her in a lot of shots of the president. she is right by his sight in a lot of international meetings. it will be good to have her back in new york. shery: given what a key role she played in the middle east policy of the white house, this will be really an important change. david: she is actually egyptian. she was raised in the united states but she is from egypt. let's get the headlines with first word news from mark crumpton. mark: united nations security council met today concerning president trump's decision to recognize jerusalem as the capital of israel. the council says the action violated international law. >> that stated by the secretary-general, united nations position is clear. jerusalem is the final -- for which a comprehensive, just and lasting solution must be achieved for negotiations between the -- speaking to the council of the link from jerusa

he will be joined by the treasury secretary steve mnuchin , gary cohn, and mike pence.uld be the first legislative victory and it comes as a result of last night's special election in alabama. the republican majority in the senate is razor thin with just one vote once doug jones goes to washington. surprise, thea outcome of the election, for many folks. i would place that experience on top of the tax experience and ask, what could still go wrong at this point with getting the bill through before doug jones is seated? kevin: they can only lose two votes, and these undecided votes , but the rhetoric from the undecided has been much more receptive than in previous debates such as health care. i really think that the momentum is on the republican side, especially according to the sources, and i am talking to sources in both conservative camps, not only folks aligned with republican leadership but es,o the abandon -- bannonit the ultraconservative wing. they are all getting there. vonnie: one of our congressional reporter's was tweeting last night that this defeat of roy moo

he says he's a friend of gary cohn, who is one of the chief architects of the tax reform effort, andgary cohn, is wrong. >> what steve mnuchin doesn't say about high-tax states is those are also blue states, so that's an easy political move for the administration when they're not jeopardized at all. >> this is true. this is true. and look, when you look at this tax bill, it really benefits real estate developers and investors like the triumphumps kushners, and that's part of the controversy as well. we don't have the president's tax return, so we don't know how the president would stand to benefit, but many tax scorers say this is very good for the trump family. >>> in california, intense winds whipped the huge thomas wildfire along the santa barbara coastline into an even larger inferno sunday. as of last night, the fire is burning over 270,000 acres, more than a third the size of rhode island, and it's only 27% contained. it remains the third largest wildfire in modern state history. 8,500 firefighters facing gusts topping 70 miles per hour in some spots. the winds now are expected

and stevel, gary cohn mnuchin committees on the press conference at the passage of the bill, got a lot of praise for their work on the hill getting this done. and a donald trump apparently did play a positive role burning the sides together. look, he did not get deep into the weeds of each individual provision, but he gave them the backing they needed her get this done. he essentially stayed out of the way, and that a lot of the bill to actually happen, unlike repeal and replace, in which some of the things he said and did were a factor cited by some and how they cannot get that done. vonnie: there was a lot of chatter -- mr. cohn said it himself, that once taxes are out of the way come his job is done in the white house. does he leave? marty: there is also chatter that he wants to be involved in infrastructure plans. there is a big difference. donald trump talked about bipartisanship on infrastructure, but republicans have a very different idea of what infrastructure should be than democrats. democrats want government to spend on infrastructure. ,he gop wants private firms private ind

from that podium, secretary mnuchin and gary cohn both assured us that when a final tax reform bill is passed, the alternate minimum tax would disappear immediately. now of course resecent statemen by the president as the conference about to begin indicate it might not completely disappear. and not immediately, certainly. is the administration still committed to ending the amt right away? >> look, i don't think our position has changed on that front at all. but at the same time, look, they were just named. we want to let it run through the process. we are committed to those and making sure the bill and final peels of legislation delivers on that. >> a lot of attention on sexual misconduct and harassment by members of congress. is the president confident that congress and its leaders can police and investigate themselves on this issue? >> i think that we have no reason at this point to see otherwise. and hopefully that process will move forward. >> i want one question to verify something you said from the podium on taxes. you said i think to matt on tuesday as long as taxes under audit

. >> and there are ceo's saying that, gary cohn saying, hey, you're going to put this back into your and hire more people and they all sat there, not really. mike bloomberg has been talking about it and called this tax reform plan a fantasy land. i think that we will see some wage growth, but on the minimum wage front, i think the fight for 15 while a valiant effort is not a country wide effort, but some democrats put up $12 an hour as a minimum and think it's a living wage. and if you can afford it go up to 15. and we have to make sure-- >> and doing things and the-- >> know that this really hurts americans. >> and $12 an hour in new york city is a lot dinner-- different than in $12 in wisconsin. >> so, new york-- ments you would think, jessica, that the businesses would be deciding that and the workers would be deciding that, that you would allow free markets to actually function. rachel. >> i agree with gary. you know, we shouldn't let government decide this. the market should decide this, but, list be, this is what happens when you can't separate morality and free markets and cap

gary cohn. ivanka trump, legislative team. all the members of this cabinet who partnered to drive your vision forward over the past six months after you laid out that vision for tax reform. but, mostly, mr. president, i will end where i began and just tell you i want to thank you, mr. president. i want to thank you for speaking on behalf of and fighting every day for the forgotten men and women of america. because of your determination, because of your leadership, the forgotten men and women of america are forgotten no more and we are making america great again. >> thank you. >> thank you, mr. president, god bless you. >> thank you very much. i also want to thank all of the members of the cabinet and i think we have a fantastic team. and next year we're going to go on to really some amazing things. we're going to -- we're making ourselves very strong again. right, general? >> we are, sir. >> he was not so happy that first week when i met him. he was saying it's really depleted. we are building it up rapidly and we will be at a

i was at a breakfast with gary cohn this morning and we asked him about that.p until monday, the president was still trying to debt it closed. s and gary cohn, the president's chief economic adviser pointed the finger to republicans in the house from new york as the -- >> i know. because although they got hit with the state and local tax loss, it'll keep the donors happy. it's about the donors. >> that's right. >> chris, you and i have talked about the issue of president trump personally interviewing u.s. attorney candidates, particularly in new york and school district district of columbia. a group of reporters sat down with senator rubio earlier today and i asked him, do you know if he had interviewed candidates for the southern district of florida, where mar-a-lago is located, and senator rubio says that he does not know that the president has done that, but he said if he were trump's lawyer, he would strongly advise against doing that. >> because he cut some deals down there? >> he has interviewed candidates where he has some business interests. >> of cours

white house economic adviser gary cohn was disappointed by the advice. >> why aren't the other handsreporter: dell democrat chris coonce. >> reporter: advisers of pfizer, coca-cola said if we get a significant rate cut we're going give it back to our shareholders and in dividends and buybacks. >> reporter: the joint committee on taxation projected today that the gop plan would boost job growth by an extra half a percent over the next ten years. the jct has also projected that the plan's individual tax changes would initially benefit earners at all levels. but those savings would quickly evaporate for those making less than $75,000 a year. tennessee republican bob corker says that part of the plan needs major work. >> i wish we could just take the individual side, put mitt the trash can and take it quickly to the insin ratter. >> reporter: but many republicans are worried they'll miss the moment if they tinker with the bill any longer. >> i want us to pass tax reform. i think in its current structure, it would make things better than things are today. not perfect, but better. >> repor

steve mnuchin and gary cohn and others have been denying that this is not going to pay for itself and they keep insisting of it will. this has not been the death of deficit talks but the death of a real truths and facts budgeting. >> steve clemmons, you probably heard the president talking about how amazing this is for american businesses and the ceos who love him and companies. he made a specific reference to at&t. let's listen to it. >> so maybe what i'll do is -- and by the way, i mentioned at&t, but many companies have come forward in saying they're so happy and they're going to be doing similar announcements. we'll see something that's going to be very special. we're bringing the entrepreneur back into this country. getting rid of all the knots and ties and we're going to -- you'll see what happens. and ultimately, what does it mean? it means jobs. jobs, jobs, jobs. so it's going to be really a very special period of time. we're in a very special period of time. and it's going to be even more so. >> the entrepreneur never left america but, steve, the ceo of at&t in one of the mos

we went to the library, met at the congressional library with mark short and gary cohn., on thanksgiving week, we shared more. and then the last ask i had was at the end of dw-- if you still wanted to make a bipartisan bill, which i thought anybody would want a bipartisan bill, all we asked was reconsider the tax rate at 25%, remove the individual mandate language, which basically we have a fix -- if we didn't have a fix, which is a bipartisan fix with lamar zand alexander and patty murray, that would be a different story, but we have a fix. and outsourcing, which stopped tax havens overseas for corporations that were parking their money. and remove the tax breaks for the highest income earners that had the biggest breaks. >> so why didn't they take you up on your suggestions? >> you'll have to ask them that. but if they say we didn't spend time, we did. we had other democrats that would vote for these, but it didn't give any traction. once they decided that it was going purely political, down political lines, i'm the least politically party person that's entrenched. i w

i spoke with white house economic advisor gary cohn and asked him, first of all, does he know exactlye president is going to actually put his donald trump signature on this newly passed bill. >> so, martha, look, the house and senate still have to come back and fund the government and they will do that probably over the next day to two days. that will have an impact on when we sign the tax legislation. if they get the continuing resolution done in the next two days and they take care of some of the loose ends, we will hopefully try to sign the tax legislation on friday. if not most likely why will sign it the first week of the new year. >> martha: there is the question of the pay go. >> absolutely. >> martha: if it's signed in this year it could mean 25 billion-dollar cut to medicaid. so, you know, is that why you might want to push it into the next calendar year? >> exactly, martha. we are not going to do that. we would wait until the new legislative year and sign it next year. we would never put a cut in to medicaid. >> martha: does that mean the president is going to sign it at mar

. >> and we see at the end of that tape national economic council chair gary cohn approaching the deskthe oval office. what a victory for gary cohn, whose tenure earlier in the year was very much under suspicion, but that's a huge finish line for him, as well eamon, we'll see so many unanswered questions about the impact of this bill regarding wages and cap x and inflation and corporate earnings and tax complexity, but by most accounts, 80% of american households are going to see a tax cut in 2018 and might start to be noticeable in just a few weeks. >> carl, that brings 2017 to a close, but the president ending there on a reflective note, talking about what he's learned in his first year in the presidency, saying that one of the things he's learned is to build a relationship with lawmakers on capitol hill. and boy did you hear him heaping the praise on two people, mitch mcconnell and paul ryan. people he'd been at political logger heads with earlier in the year, some of his political advisers going into open political warfare with mitch mcconnell in particular. today, though, an entir

this administration to sit down with me for an interview and every single day though paul ryan, gary cohn, does tv regularly never agrees to an interview. we respond to the tweet saying we would love to have that conversation. for example, who's behind keeping carried interest in? >> simple question. >> come on over. >> we'll talk about it. all right. in the senate, tensions were high ahead of their vote as chuck schumer scolded his republican colleagues for talking during a speech opposing the bill. >> refere >> can we have order, mr. president? >> the senate will be in order. >> this is serious stuff. we believe you're messing up america. you could pay attention for a couple of minutes. >> the atmosphere in the chamber was echoed in the hall as protesters gathered outside offices holding die-ins. police arrested several dozen protesters on both sides as congress worked to pass its tax cuts. >> the latest nbc news/"wall street journal" poll taken before the vote found 24% of americans think the bill is a good idea. at least 41% say they think it's a bad idea. but speaker ryan was undeter

gary cohn, a big economic adviser. the economic adviser. he's not announced he's departing but he's widely expected to be leaving some time early next year. his number two is a guy named jeremy katz, a name not many are familiar with but he was really integral in economic policy and in particular on the infrastructure plan which is an agenda item that president trump wants to push with congress next year. he's out the door. and we're expecting other departures as well. there could be a shake-up in the political operation or change of some kind. a number of trump loyalists on the outside, including corey lun d lewandowski who has been saying he needs to add more firepower in order to get everything in gear, ready to go for the midterms next fall. >> is that what the fight about? three publications report this spilled over and became very, very intense and emotional. and that the president was present. was this a fight about the president not having the right kind of strategist on the political front as you describe? were outside advisers lik

of next, gary cohn.rg tv. ♪ ♪ about 20 or soe minutes into the session here in new york city. let's get you up to speed and financial markets. the jobs report coming in from her on the headline number. unemployment coming in line. wage growth slightly disappointing. the s&p 500 up by around nine points. of by one third of 1% pay the dow up by 50 odd points. a rally in year up as well. some enthusiasm for adding a to potentiallyk close out for a weekly gain. the story of the dot -- bond market looks like this. treasuries unchanged at 237 on the u.s. 10 year. on the dollar, a story of dollar strength. we stay there as we approach a 94 on the dollar index. the euro-dollar just a little softer. down to 1.1759. for the trump administration's views on the jobs report, we are joined from the white house by gary cohn, national economic council director. decent jobs numbers again. the obsession on the street not the jobs report about the tax bill that will go through congress. you said to me about a month ago rat