larry: we had jas jason smith on aways and means chair, let's not cut link between tariffs and tax cutsexample the 25% tariff according to smith, i did not know it, on canada and mexico could have been worth might have been worth, over a trillion they could have contributed to tax cuts for large and small businesses and families, i was weighing in, steven smith, universal tariff idea about 10 to 15%% that could yield 3 our 500 billion dollars, i have talked to the president about this. it could be used. >> universal teartive. tariff. larry: that could be used for tax cuts. >> weighing in on that,. i don't want st want to be misunderstood there is a memorandum president trump issued his first day in office, america first trade policy, directed treasury, commerce, u.s. tr to analyze our trade imbalance in the world, that would then form the legal basis for the kind of tariff policy that you are talking about, based on finding of that review, as you mentioned. that could lead to trillions of revenue collect, in addition to what process we end up with c canada and mexico, they are included

jason smith of the great state of missouri. jason, welcome back, sir. you know, mr.s very serious about his tariffs and that's going to be an part of the national security arsenal and economic arsenal and my thought simplistically and going with tariffs and cutting taxes and we should get the tax cuts in and it's almost like a match book, jason, going to raise tariffs on this party and time to use the revenues to cut taxes for american businesses and consumers. >> these decisions need to go hand and glove and tariff increases with the tax cuts and that's why i've been pushing for my colleagues to not allow themselves to put their agenda in front of the president's agenda in delivering the economic relief for the american people. the committee and passing a budget resolution and the instructions and that's all kinds of process issues and the american people, the president doesn't want to talk process, they want to talk policy and get it delivered to his december and can that's what in facts congress needs to do. it's very, very easy, larry. the president was specific.

later, the house ways and means committee chair jason smith. surveillance." ♪ ♪ do you charge forward? freeze in your tracks? (♪♪) or, let curiosity light the way. at t. rowe price, we're asking smart questions about opportunities like clean water. and how clean water advances can help transform our tomorrows. better questions. better outcomes. t. rowe price jonathan: equities on the s&p 500 negative by close to .5%. economic data out just moments ago. mike has an update. mike: it was an upside surprise. 183,000 in terms of adp january payrolls. revised up. had a big increase in nonfarm payrolls last month. that was not expected either. the forecast, 150,000. there does seem to be an impact of the california fires on these numbers. it is not mentioned, but when we look at the regional break down of jobs west had the most, 70,000 additional jobs added. if there is a los angeles issue we are going to have to wait and find it in nonfarm payrolls. the only thing that stands out in terms of industry sectors, manufacturing loses 13,000 jobs. leisure

house , congressman jason smith, posting a cartoon showing elon musk as the grim reaper, knocking on the door of the irs. other federal agency doors that have been opened after being knocked on, the fbi and the u.s. agency for international development. a lot of scrutiny around cuts and changes that usaid, whether that agency will be folded into the larger state department. it was yesterday at the white house that the press secretary, caroline levitt, answered questions about those changes at usaid. this is what she had to say. [video clip] >> secretary rubio is the acting administrator of usaid, we have streamlined it into the state department -- hello, rachel -- and we want to be sure we are being good stewards of taxpayer dollars. he's going line by line to make sure that foreign aid to private and public organizations, government organizations, line up with american interests. >> 2% of federal employees have accepted the buyout offer. is that less than the white house was anticipating? >> last time i checked in with the office of personnel management, there were more than 40,000

last congress, the chair of the house ways and means committee, jason smith, worked with me. and together we got. 357 votes. every republican on the house ways and means committee to support significant expansion of the child credit. yeah now i think donald trump is talking about a tax bill that's going to supercharge the breaks for the very wealthy that he already gave him in 2017. and i'm going to say are you going to have absolutely nothing in there for kids and working families? because reality is there's been a lot of evidence that shows dollar for dollar those programs for kids and expanding the child tax credit is a huge the figures show that when it was done, there actually a reduction in child poverty and if you accept the proposition i do which is political change is rarely top but bottoms up and trump tried to claim in the campaign that he was going to be for working families but it took about ten days after election for him to start walking that back when he said, oh, we can't reduce food prices. i said that at home. do you think some of the tax proposals he about

jason smith. great man on taxes. great man on taxes. how are the taxes doing, ok?re going to get good things passed, i hope, right? juan ciscomares. stand up. you always look so good. kevin kylie. kevin, wherever you may be. what happened? how do we hear no applause? lauren boebert. very much a leader in this. thank you, lauren. cat cammack of florida. thank you, cat. byron is doing good. where is he? you're doing good, byron. laurel lee. thank you, laurel. great job. anna paulina luna. thank you. thank you, anna. greg steube hit a home run wearing a trump cap. the only one to hit a home run out of the park during your crazy baseball game, right? i think i'll come. if you're playing, i'll come. somebody that's very shy, a very shy person, but she's trying to break out of it. marjorie taylor greene. victoria sparks, thank you, victoria. great job. ashley hinson. ashley, thank you. marionette miller meeks. great job you did. great job. mary miller. i know. julia letlow. hi, julia. claudia tenney from new york. hi, claudia. great job. nicole malliotakis. hi, nicole. d

in fact, the chairman of our committee i'm sure, jason smith, agrees with us. how do i know that? because these are some of the things he said over the past year. in february 15 of 2024 he said, taxpayer information is confidential and any leaders should be prosecuted to the -- any leakers should be prosecuted to the fullest extent of the law. he also said in march, given this committee's essential role, ways and means committee, in originating and crafting legislation on tax policy, legislative text is absolutely necessary to alloy us to evaluate it and consider the true impact of these dangerous policy proposals will have on our constituents. these are words right from chairman smith. he should be saying the same thing right this minute. he said, the american -- he likes the i.g.'s office because he said, the american people deserve to know the facts about this breach of trust. the treasury inspector general for taxed a strairks the i.r.s. and treasury, must explain to the american people what happened and what is being done to make sure that it's never done again with their pri

i caught up with congressman jason smith who wants his one, big beautiful bill, but that seems to beollapsing in real time. what are next steps for republicans in congress? ed: getting a budget. you can't start budget reconciliation process. you have nothing to reconcile until you get a budget. this is where republicans have as slim as possible of a majority. if you lose one vote you don't get this done. donald trump will have a conversation with house republicans and see if you can get them to pass something to start the process. they are still fighting over process. until you figure out the process you can't get a bill. i think we are going to get the tax bill done. it could be permanent. they could add tax cuts to this if they use the score that they are talking about. but until there is leadership from the white house to instruct them on what to do, we don't know what we get from the hill until that point. lisa: i love how we started the conversation with how important the 10 year is and how this might be the ultimate check on the market. i thought the photograph we showed set it

right now here at the white house is the house speaker johnson as well as weighs and means chairman jason smith and other lawmakers and maybe a side conversation related to that. larry. liz: edward, i sure hope none of that comes true. folks, republicans must stick to the laffer curve and that's the subject of the riff. congressional budget office, cbo reestimated the 10-year forecast and long behold they're raising their tax revenue baseline by, wait for t 1.9 trillion. same one telling us it's reduced the tax rate and reduced deficit and going for them and it's the cbo now suggesting they were wrong? all along by admitting the laffer curve really worked and lower tax rates produce higher higher revenues and that's their new forecast seems to be saying and in fact since president trump's huge reduction in the corporate tax and 35% to 21. that's over the past seven years and corporate tax revenues essentially doubled and doubled and indeed throwing the lower personal income taxes and other progrowth measures and entire tax revenue base gone up by about, wait for it, 50%. didn't go down, it went

jason smith chairman of ways and means is doing the same thing we are going to get this done we haveruns out march 14 we have that against us and we have to do the funding for 2026 and we have to raise the debt ceiling this is the perfect storm and we're going to have to put our nose to the grindstone. maria: we will be watching your work, thank you for being here. >> mark all for joining us, quick break is really prime minister benjamin netanyahu in washington for a meeting with president trump this is the first foreign leader to meet with the president and his second term strategic analyst general jack keane is here to weigh in on that trump is tackling tensions in the middle east. watching "mornings with maria" live on fox business. stay with us. >> this week i "mornings with maria" tomorrow china trying to topple the u.s. dominance using wall street as a buffer michael pillsbury with the facts thursday leading drugmaker eli lilly reported fourth-quarter earnings, davis here with the exclusive. friday january jobs report revealed live with inside analysis from the top minds in bus

the house on that side you see speakers johnson and jason smith.them are senate majority leader john thune and lindsey graham, the chairman of the budget committee, both of them, they could not get it together. the senate went ahead and moved its budget solution, which is something that trump has not rained in on -- reigned in on. they are not making a decision. one problem for republicans as they cannot even figure out which direction they want to go to get to this ultimate goal. geoff: you have such a way of simplifying all of the confusing stuff. we are grateful for your insights and your reporting. ♪ stephanie: i'm stephanie sy with newshour west. here are the latest headlines. deadly storms are sweeping across the united states from one coast to the other. in california, floodwaters inundated roads -- killing at least 2 people in sonoma county, where heavy rains triggered landslides and destroyed homes. in tennessee, a possible tornado ripped through the eastern part of the state late last night. officials confirmed 2 lives were claimed in tha

you see speaker johnson and the ways and means chair, jason smith. opposing them are the new senate majority leader, john thune, and lindsey graham, now chairman of the budget committee. both of them actually, when the house could not get it together, the senate went ahead and moved forward its budget resolution, which is something president trump has not yet rained in on. he's trying to let them figure it out and they are not. one problem for republicans as they cannot figure out which direction they want to go to get to this goal. geoff: you have such a way of simplifying all this stuff. grateful for your insights and your reporting. thank. ♪ amna: deadly storms are sweeping across the united states from one coast to the other. in california, floodwaters inundated roads, killing at least two people in sonoma county, where heavy rains triggered landslides and destroyed homes. farther east, a possible tornado ripped through eastern tennessee late last night. officials confirmed two lives were claimed in that storm as well. >> roads will be blocked. p

one house top tax writer, jason smith, told me the senate republican plan would be unsuccessful. it would fail, he said. i asked cornyn about that comment. he says they're still moving on with one bill. what do you say to that? i think you guys are making a misstep here. >> the difference between the house and the senate. >> you're kidding. what a scandal. >> what is this going to be? is this going to be a difficult to resolve? >> no, no, we'll. >> work it out. >> we we. it's too. >> important to fail. so failure is not not an option. >> in the. >> direction of democrats. >> in opposing. >> but this is a long, complicated process that the senate republicans want to begin next week. it's a two step process. first, they need to approve a budget blueprint that lays out the broad parameters that needs to be approved by both chambers, the exact same plan. and then they have to draft the details of that binding legislation. and that will get even more complicated. so, pamela, if they can't agree on the sequencing and they can't agree on how to move ahead, how are they going to agree on

leaders on capitol hill right now that includes jodey arrington and house ways and means chair jason smith. >> jodey arrington is the budget chair. all of them set to meet with the president at the white house today to really talk through the different options. now, i can tell you from my conversations with white house officials that this is also something that is preoccupying the mind of the president. he really wants congress to fall in line behind him, to get behind him, to really pass all of the things that he said he had wanted to do, all the things he promised on the campaign trail. now, just to give you a little insight into how the hell is looking at this, you have the people in the house like house speaker mike johnson and arrington and smith, who want one broader what they're calling reconciliation bill to get down, to get done. a lot of the president's priorities, all the things from the border to taxes to energy. however, we've also seen people in the senate, senate republicans kind of grow impatient with waiting on the house. we have people like senator lindsey graham and majo

with jason. >> smith, who's, of course. >> the chairman of. >> the committee. >> that. >> basically overseesruly. >> the main dude. and he is basically said, look, i've talked with house republicans. >> no one knows house republicans better than. >> i do on this. >> and you have to have this one bill. and you've heard johnson. >> repeatedly say, hey. >> i'm trying. >> to talk. >> with lindsey. >> graham. >> make sure. >> that he. >> understands that the house. >> needs to go first. but at this point, it doesn't. >> really seem like. >> that is changing. >> graham's perspective on the senate needing to move. >> forward. >> and certainly. >> from president. >> trump. >> they've asked. >> him again. >> and again and. >> again to support. >> their one. >> bill proposal. >> and trump. >> has. >> basically been like. >> look, this. >> is all going to get done. however y'all want to get it done. just go ahead. >> and do it. >> just give it to me so that i can stamp a win on something. so we've got these two concurrent plans basically on a collision course. and then there's what the speaker was sayi

but the chairman of the ways and means committee, jason smith.n, they know that keeping house republicans together is tough. we have seen that over recent years. right. all of the drama in the house republican conference, the whole speaker battles. so they want to try to get just one bill because they figure if we have to go through the exercise of corralling everyone and getting them together, let's do it once instead of trying to do it twice. >> well, here's the reality. i mean, the senate is kind of breathing down mike johnson's neck, right? and the budget committee said, and this is lindsey graham, the chair, his caucus will proceed as early as next week with their own approach to a reconciliation bill. could pressure from the senate help or hurt? >> well, i can tell you, having served in the house republican conference, having served in a congress where there was a reconciliation bill in 2017 and 18, the senate typically wins these battles. senate republicans typically have gotten the best of their house counterparts because there's fewer of

house , congressman jason smith, posting a cartoon showing elon musk as the grim reaper, knocking onhe door of the irs. other federal agency doors that have been opened after being knocked on, the fbi and the u.s. agency for international development. a lot of scrutiny around cuts and changes that usaid, whether that agency will be folded into the larger state department. it was yesterday at the white house that the press secretary, caroline levitt, answered questions about those changes at usaid. this is what she had to say. [video clip] >> secretary rubio is the acting administrator of usaid, we have streamlined it into the state department -- hello, rachel -- and we want to be sure we are being good stewards of taxpayer dollars. he's going line by line to make sure that foreign aid to private and public organizations, government organizations, line up with american interests. >> 2% of federal employees have accepted the buyout offer. is that less than the white house was anticipating? >> last time i checked in with the office of personnel management, there were more than 40,000 fe

what was more interesting as i started the week, especially when i caught up with jason smith, chairman and means, thinking the house was going to get railroaded by the senate. trump went into the evening with some of these congress members, and today, potentially, you get the bill coming out, or theories of what will be in it, coming out today, and maybe he wants to go back to his one, big, beautiful bill, which means a lot of tax cuts, which means a big deficit. lisa: the take away is it is messy. this is messier than executive orders talking about tariffs. the messiness is what people are putting into their models that may be progrowth emphasis will not come as quickly as people thought. jonathan: we started we talking about trade and close the week talking tax cuts. i want to know how one complements the other. hopefully when we catch up with kevin hassett, the national economic council director later this morning, what are the ultimate objectives here? is it a drug war, not a trade war? is it about getting concessions on the southern border? is it about reciprocity, thinking about

alvin bragg's case against trump in new york, possibly letitia james' case, also jack smith's case. jasonreel analysts -- legal analysts said all of those cases were totally unfair and they had constitutional violations including due process rights violations against trump. where do you come down on a.g. bondi doing this? >> i love this, because it is the not just about whether or not this was the result of a political vendetta. what i'm really curious about is what was going on behind the scenes that reveals why they chose to do this, but they didn't think that their e-mails were going to be read or their text messages on their work phones would be read? there's been a lot of potential coordination between the white house and individuals who are working on these cases. they said at the time that didn't actually happen. well, now if we'll truly know. i don't think anyone if would trust finding that information out under the previous administration. now we're actually going to get this informing. and anyone who starts to scream about how this is some sort of an abuse or an overstep by pam