kevin brady here on that. also keeping a very close eye on day one for jeff sessions as the attorney general of the united states. he will be key in so many of these battles after this. with every early morning... every late night... and moment away... with every click...call...punch... and paycheck... you've earned your medicare. it was a deal that was made long ago, and aarp believes it should be honored. thankfully, president trump does too. "i am going to protect and save your social security and your medicare. you made a deal a long time ago." now, it's congress' turn. tell them to protect medicare. ltry align probiotic.n your digestive system? for a non-stop, sweet treat goodness, hold on to your tiara kind of day. get 24/7 digestive support, with align. the #1 doctor recommended probiotic brand. now in kids chewables. >> neil: any minute, any hour, any time, we're told on the day jeff sessions was formally sworn in as the next attorney general of the us. the three-judge panel's ruling could come momenta

maria: we'll get back to kevin brady in a moment.e talked with director of white house, about the reforms last week, listen to what gary coen said he is working on. >> first thing we're going to attack is regulation over regulation. it is not just in financial market, it is in all markets, you will see the beginning of some of our execkive act to roll back regulation in financial service market. maria: where are the most onerous regulations, since dodd-frank was signed into law, we talked about the fact they could not even explain when the regulations were. ? >> there is many onerous parts, the biggest thing we have to fix, we have to get the unite the states banking system working again. we need to make capital available for small and medium size businesses and entrepreneurs. maria: as i it, it relates to tax reform, do you think we'll understand what the package looks like? >> i don't know if it will be 200 days or 100 or 300. but i know we're working to a very common objective. and everyone agrees on that objective. it is lower co

congressman kevin brady. he'll join us after the market closes with more. >>> we'll have full team coverage throughout the day on these events coming from washington. first breaking news on president trump's nominee for labor secretary. kayla. >> we are awaiting a statement from andy puzder, the ceo of cke restaurants who up until apparently this afternoon was the designee for labor secretary of the united states. we have yet to hear what led to puzder withdrawing his nomination but nbc news reporting that that is expected as soon as this afternoon. senator mitch mcconnell as recently as two weeks ago called puzder an outstanding choice. there had been opposition from senate republicans notably on the committee to be holding a hearing for puzder tomorrow. and it was just -- it was interesting to see that that opposition kept mounting despite the fact that he had gone through his financial disclosures. that had delayed the hearing date several different times. he held more than 200 stocks, more than a dozen re

i'm kevin brady, chairman of the ways and means committee. like many others, i live back home, not in washington. when i'm home, can't tell you how many families, small businesses, how many patients have been hurt by the affordable care act. they are being forced into plans they can't afford, they don't want and frankly dames them. so the ways and means committee is working on solutions that will do this first, provide relief to hard-working families that have been damaged by the obamacare taxes, the penalties and mandates. we're going to provide americans, especially middle class families who have been left behind by obamacare with the freedom to buy a health care plan that's right for they were, not what's right for washington, that is portable, can travel with them throughout their life time, is tailored to their needs, grows with their family and can be changed throughout their life time. we're looking to strengthen options like health savings accounts that can help families deal better with the day-to-day out-of-pocket costs that come wi

neil: kevin brady, the house ways and means chief, neil, we're looking at big sweeping tax cuts. marry it with corporate tax reform. we'll get it done this year. if it gets done before the

wayse chair of the house and means committee, kevin brady, outlines old for overhauling the tax code during a tax policy forum hosted by georgetown university law center and cosponsored by the international tech policy forum. this is half an hour. >> we have had a great morning of discussion. by a going to be caps off terrific talk from our luncheon speaker. who probably needs no introduction. kevin brady, the chairman of the ways and means committee, which is the most powerful committee in the house in his jurisdiction over tax and health care trade, social security, but talking about tax today. we are delighted to have him here for two reasons. as we said earlier, the initiative kevin brady has taken on tax reform has made all of us much more important in our companies and universities and academies. affect myof a sudden company and it rehearsed to me as the it girl now. mold andecause of the innovative proposal that chairman brady and speaker ryan are advancing to transform the u.s. tax system. we have talked this morning about a lot of the issues and frictions that would get invo

this week they put kevin brady out front.man brady you saw him there, he is the top guy on the house ways and means committee. it writes the tax code for the united states. out he comes he says without any adieu, we're going to get rid of obamacare and here is what we're going to replace it with, that is a very important development because kevin brady is powerful guy. liz: he is the leading guy on tax reform plan. the obamacare taxes are generous. there is capital-gains taxes in obamacare. want to do away with that. that tells me they're doing obamacare and tax reform at same time. ashley: that last point is interesting. does that mean we'll get obamacare reform first before we get to the individual corporate tax rates? stuart: i don't know what it means but i'll read this into it. if they're putting congressman brady out front and he is talk about obamacare and tax cut, it means the republicans are concentrating very much on the legislative schedule, and not on the turmoil surrounding the administration with general flynn a

>> yeah, kevin brady and the republicans are trying to snatch defeat from the jaws of victory. here the republican party supposed to be about tax cuts wants to centrally plan how we buying, the origin where we're buying and lower amounts of refishsy and freedom, whereby we shun the global supply chains that make the u.s. the ri richest country in the world. why complicate it? it's the path to failure. >> the fact that folks are talking tax cuts are increasing optimism among businesses and consumers. donald trump tweeted, he tweets about everything, but tweeted about the stock market saying it hits new highs with longest winning streak in decades. great levels of confidence and optimism even before the tax plan rollout. >> this is true, look, david, i have a donor every time i go to his office the first thing he does is point to the map on the wall, economic freedom around the wormed. it's most important not only it would mean i'd get more money in my bank account and businesses have more money and resources to play with, but it means we have more money to make choices over thin

i have kevin brady, the man that runs the house and ways committee. he was talking up a plan that would cut all the rates we have to three drastically, cut corporate taxes down to 20%. across the board, no matter what you're with, you're looking at something that is going to change the way tax policy is conducted in this country. the likes of which we have not really seen, if you think about it, since 1986. for the markets, that much wind at their back. all three major market averages, including the dow, the s&p 500 and the nasdaq at records today. we should also say the banking sector was the most of these averages. that sector seems to be thought of as the most tax advantageous. it has everybody running fast and furious with buy orders convinced this is real and going to happen soon. keith ember is with us soon and aaron mcpike. aaron, it's always back to the high expectation game. markets get ahead of themselves. it's uncanny. the better the sweeping tax cuts look, the better the markets look. the more dicey they look or could be stumbling, the los

congressman kevin brady set to speak shortly.s as the white house is reportedly saying it does not support the house's version of the border adjustment tax. kayla tausche joins us with more. kayla? >> brian, we know very well that congressman kevin brady very much favors that border adjustment tax. he has been talking it up everywhere from the hill to cnbc. the afternoon headliner or one of the afternoon headliners here at cpac just south of washington, d.c. this isn't necessarily an audience where congressman brady will need to describe any compromise that might lay ahead. he has said in the past that tax reform wouldn't be reform if it favored foreign-made products. that's been a familiar refrain for the speakers here at this conference. now politicians have been beating the drum for made in america products, for jobs to come back, for jobs to not be going over our borders and to other countries. and, interestingly, that was a note that was picked up by the president this morning. but when he was talking specifically about taxe

kevin brady he is chairman of the house ways and means committee. does that mean corporate tax reform individual rate changes are done together individual rate changes are done together that's my strong preference because there's growth in both in the simplification and the redesign of how we tax. so we could leap frog back to the place in the world. investors like this we have more from washington. comprehensive tax reform is coming. that was the message from the white house on thursday. present trump first said a business tax plan would be rolled out in the upcoming weeks but sean spicer added that it would be a comprehensive package including both business and individual relief. we are looking at rolling out a comprehensive tax plan that we will be working with congress on. it's good to be a comprehensive plan. something we haven't seen since 1986. it starts on october 1. it appears the administration will target repealing and replacing obama care first. select president trump has of relations with china. he spoke on the telephone with the presid

as we track retail's big day in washington, congressman kevin brady. he'll be meeting with the retailers today. chairman of the powerful tax-writing ways and mean committee. that's coming up. we'll be right back. . rade you alize e smartest itide isn't t ve t yoinst with. ♪ you alize e smartest itide whe tonlthe werebvus wheyou e. ertoet out.th. smtetry d exoilp y fin lityerrwills. lityerrwills. yonyobe go ,nit fls tsee dee youreseffos. buwhat if yocould rnityerrwills. yonyobe round?t fwhyocould yo deover once-dail 's the #1 pres bsglt2 inhibitor ornityerrwills. lor yonyobe round?t fwhyocould yo to snificanter blo g ieinindus winginka iused dias. fact, is enron to be moreffecte lering a1c thanuvia. invokan duci the amoar anil's notorowergs ofending souo urat lering a1c thanuvia. invokan >>> us directly and,000 who provide is services. 42 million jobs? america. we look forward to carly on the conversation with the president and his team as we continue to look to move the interests of our industry, our employees, and most importantly the consumers, the h

. >> it's the chairman of the full committee, chairman kevin brady, that we just met with a few minutes ago. >> neil: so brady has told you that what? you would have a tax cut measure out of committee when? >> well, he's hopeful that we can vote on that by this summer, is what he just told the freedom caucus a few minutes ago. what that means is that his staff, peter roscum and the staff has to work around the clock to make sure we have the details mapped out. i'm looking forward to corporate tax reductions to individual reductions where hopefully the american taxpayer can fill out their return on a postcard. we've been promising it and working on it for decades. >> neil: is it your understanding and the chairman's understand is that you would we'd the corporate tax relief with the personal income tax relief? >> i think you have to when you looks at comprehensive tax reform. it's an all-incluessive. some of it flows through to individuals depending on what type of corporation they have. you have to make it together. the american people are looking for a way to bring back jobs to america

. >> that was encouraging from kevin brady.er adjustment tax is the issue for both sides, right? the being ares want the raise revenue and cutting taxes. >> yeah, i think they're going to have to really examine that border tax. it's a sales tax on working families. they should drop it. go for a pure tax cut. if they do that and combine as chairman brady said, personal and corporate at the same time, you'll see the dow jones at another 500 or 1,000 points. but introducing a new complicated tax that hurts working families, that drags this out. >> why do you think the border adjustment tax impacts families, that families will have to pay more? connect the dots in terms of the negative aspects. the truth is, steve, most countries have some kind of a tax at the border, right? whether it's a flat tax or border adjustment tax. >> when you act the border tax, a 20% sales tax on stuff we bring in. walmart, target, your prices will go up. your gasoline and many parts of the country for millions of motorists will go up 30 cents a gallon.

paul ryan, mike pence, tom price, and kevin brady, the four key players, have a plan right now. i can promise you they could roll it out tomorrow if they were given the green light to do so. as you know, they're trying to figure out paul ryan not only has to pass it in the house. he'll be able to do that, but how do you get 60 votes in the senate, and how do you take care of the political nuances and check all the boxes that you need to check in order to get some of the democrats on board? but i can promise you tom price and mike pence and paul ryan and kevin brady, they just haven't thought about this. they've been thinking about it for years. this thing has been in gestation. they're ready to roll. but the politics is a little bit trickier. so, you know, i think we're going to see a good plan. i think that it is going to empower the states. it is going to reduce the cost of health care, give consumers more choice and get bureaucrats out of the way between their relationships with their doctors. >> tuesday bhiemight be a good moment to rofor the president tl out some of that. d

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kevin brady makes very clear he does not believe this lines up with the intent of the law. that changes, it's very unlikely, at least on the house side of things it's going to change anytime soon. >>> joining me is former labor secretary of state, robert reich, and with us, trump supporter, jeffrey lord. what do you make of this, is this the step that congress should take, trying to obtain the president's tax returns? >> i do think it is a very important step the congress should take. and in terms of it being an administrative matter, i can't imagine a more important straightive matter than making sure that our president has not been engaged with a foreign power, in this case, russia, in basically loading the election and turning the election to his favor. now i'm not saying that he's done that, but a lot of evidence is accumulating, anderson, and every day that goes by the distrust of the public rose. and i think one important stem that donald trump has to make is to disclose his taxes. in 2008, for example, donald trump jr. told a real estate conference that russia, russi

let's ask texas congressman kevin brady, chair of the tax writing house ways and means committee. so mr. chairman, welcome. >> paul, thanks for having me. >> so president trump said two or three weeks, now he said that's when he's going to drop a bill in the hopper. you already have outlined. is that going to be his bill or hers? >> good point and good question. it's exciting from the standpoint that you have a president willing to lead all for economic growth, regulatory reform, a number of those issues and knowing tax reform, that's terrific news. i don't know yet what that announce meant is going to be. we have engaged almost since the day after the election with the economic team. we started the tax plan with 80%, i think, similarity. we have continue today make progress since then. i'm hopeful this is comprehensive and i'm hopeful the republican blueprint is designed for growth, job, wage and economic growth. >> you would like to get to a common proposal at the house and the white house can vote for? >> we would be able to work through the other elements of it. we are ready t

charles: with all due respect to kevin brady, i think it will be retro active.having said that, though -- neil: the markets would love to see that. i guess i'm asking if the markets won't see it. charles: it'll be bad news. the markets aren't going to make that assumption. neil: better than no tax cuts? which he -- charles: sure. i will make -- also ron talked about valuation, right now 17 times four earnings, a little bit high but no where near where you get typical market crashes. neil: around the time of the bubble hike. charles: 2001. we have been significantly higher when we had major crashes. if these numbers can keep trying to match the growth of the market and so far they are assort of underpinning, i think we are okay. neil: what do you make of the flip side of the argument that he is a protectionist at heart? i want to keep jobs in the u.s., that doesn't jive and that's not unfettered capitalism, whatever? >> there are about three areas right now beneath the service that no one talks about, perhaps they don't understand it or don't want to, that within

kevin brady is on "new day" in a little bit. >> thanks for joining us.ow. >> announcer: this is cnn breaking news. >>> we want to welcome our viewers in the united states and around the world. this is "new day." it's wednesday, february 15th, 6:00, here in new york. and we do win with breaking news. the white house just said there was no contact between the trump campaign and russia before the election. and yet, multiple sources tell cnn several high-level advisers to the president repeatedly made contact with senior russian intelligence officials during the presidential campaign. >> among the names captured in intercepted phone calls are trump's former campaign manager paul manafort. and the now ousted national security adviser michael flynn. so what is the connection between the trump administration? it's day 27 of mr. trump's presidency. let's begin our coverage with cnn's jim sciutto live in washington with all of the breaking details. what have you learned, jim. >> chris and alisyn, good morning. high-level advisers then close to nominee donald trum

>> well, i think kevin brady, the chairman of the ways and means committee, the tax-writing committeethe house, does have a plan to, besides lowering the overall tax rate, bring money back home through repatriation, which would be taxable to a certain degree, and have elimination of a lot of loopholes, simplification of the tax system. the idea is to have the tax reform to be tax-neutral. the details aren't available yet, but that is the plan, and it's designed to be something that will help u.s. trade. >> ambassador glassman, though, there's a question of what happens to that money once it comes back, whether companies would just give it back to shareholders in the stock market, use it to pursue mergers and acquisitions, which usually result in layoffs, and i'm wondering if there is precedent for putting strings attached to that money and restricting what it can be used for to clarify the intention that companies, if they're going to bring that money back, that they have to use it for some sort of capital investment in this country. what do you think? >> well, i think that would be a

wereng us now is the presented kevin brady. the house ways and means committee. rep. brady: david, thanks for having me. david: we know you are an ardent supporter of the border adjustment tax, which we have been talking about on the program here. a practicalas matter, have to get that as part of the package to pay for the cuts you are looking for? rep. brady: the answer is absolutely yes but not for that reason. we know what our competitors are doing globally. we know how china, canada, mexico, europe taxes and the reason that we are so far behind them right now is because they have lower taxes dramatically. we are going to beat them on that. we're going to do the same. import taxd a major on our products going into their country and take it off of theirs coming into the u.s. today, the made in america products are at a tax advantage -- disadvantage here and abroad as well. the reason for doing that -- well, two reasons is to eliminate the advantage of foreign products over u.s. products. a 20% rate is the right thing not just

house ways and meaning committee head kevin brady joins us in fox business exclusive, when we see the plan, how we will pay for it and exactly when the tax cuts will come in. we'll talk about coming up. melissa: another record for the dow turning positive in last few minutes of trading, for a brand new record for the sixth straight day. the s&p and nasdaq ending in the red, bringing a to an end of longest record streak for major averages in 25 years. cisco, coke, 3m among the big winners. 56.36 cents a barrel on oil where opec may extend production cut agreement to other non-opec members. gold is the highest in more than 13 points, on back of a weaker dollar. david: urgency behind the tax cut overhaul. president's trump most important campaign promise to people begin s to take shape. >> tax reform will happen fairly quickly. the tax would be easier in my opinion but for statutory reasons and budgetary reasons we have to submit health care sooner. we'll submit health care sometime early march, mid-march and after that we're coming up we're doing very well on tax reform. david: here in

kevin brady, thank you very much. appreciate it. >> thanks, chris. >> alisyn. >> as if it's not complicated enough, officials say a russian spy ship is positioned off the u.s. coast. how will president trump resp d respond? our national security and counterterrorism experts weigh in next. i've found a permanent escape from monotony. together, we are perfectly balanced, our senses awake, our hearts racing as one. i know this is sudden, but they say: if you love something... set it free. see you around, giulia ♪ pain from chest congestion whecan make this...d, feel like this. all-in-one cold symptom relief from tylenol®, the #1 doctor recommended pain relief brand. tylenol® ...one of many pieces in my life. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a missing piece in my asthma treatment with breo. once-daily breo prevents asthma symptoms. breo is for adults with asthma not well controlled on a long-term asthma control medicine, like an inhaled corticost

they met with many lawmakers here in capitol hill including kevin brady who is chairman of the house, ways and means committee. and one of the biggest supporters. he met with senator warren hatch of the senate finance committee. he caught one the ceos as they were leaving that meeting. here is bill rhodes, peg to reporters. >> a key message today, we really appreciate the openness of everyone from the white house to the house to the senate. we represent over 42 million american jobs and we're here to make sure that we're all looking for a pro growth agenda to move the economy forward. >> this issue is something that has divided the business community. the american made coalition, which is made up of many factors like ge and boeing are actually in support of the border adjustment tax. here's a statement they made. they said that opponents of tax reform are defending an outdated and broken system at the expense of american manufacturers and workers. there is so much debate on this issue here on capitol hill as well. the representative mark meadows who is head of the freedom caucus is ve

there is an law in the ways and means committee, a guy named passgrove asking kevin brady to do it. the republicans control the committees. this takes us back to your first point. do you think kevin brady has the gumption to compel the tax information from the treasury department, from the irs about the president and remove doubt about conflicts? >> i think trump should release the information. >> he es ooh not going to. >> i know he's not going to. i think congress should push him to. whether or not we're going to apply law to force revealing it, we'll see. this is a bigger issue. this is why i wrote the column. republicans have a chance here to show that they can govern. don't tell elizabeth warren to sit down, don't complain we're going to the nuclear option, don't try to hide the ball on trump's taxes. own unto the american people. if you're a republican, you believe in the ideals of a conservative platform, and the only way you can credibly offer that to the american people is if you stop hiding the ball on all this other mischief and this rhetoric that we keep hearing from the

. >> we started the show with kevin brady and talking about a border adjustment tax, i think that's dead on arrival. the bottom line, i think the g.o.p. will go along with the president, even if it's not part of their core orthodoxy. these are promises made and the president continues to tell us it's going to happen and i believe it's going to happen. >> here is what's going on. what he's doing, he's applying-- >> next year-- >> i think he's trying to break them. he's trying to get them to do his bidding because guess what? he won't get them to-- >> and american public's bidding who voted on november 8th. >> do you remember what bob ruben told bill clinton when he wanted to raise taxes. if you raise taxes and don't apply to the deficit, the bond market will go nuts and interest rates spike. and bill clinton said do a bunch of bond traders control the economy? they do. >> it's ruben the old treasury secretary. >> if trump does everything, yields are going to spike and hurt the economy. >> i don't know that the viewers care about bond traders. >> what about interest rates when they can't b

but kevin brady where under the constitution tax measure needs to originate.: right. >> and senate finance committee. they have to have big aspirations. they have to try for 60. they have to try to get some democrats aboard and meet with them, compromise, negotiate, see as many as they can get. it's better to have a tax bill if need be passed with 60 votes rather than 52 votes. but likely they're going to have their life's dream and have it with 60. but start out aim high and settle for something less. neil: i'm told that for the upper income, it might be revenue neutral in that they're not going to get a net tax cut. it will be offset by higher deduction or lower deduction so that they're not paying less taxes. will that be an issue? willingly be a disappointment? what? >> well, two things. first of all, remember, the congressional budget office and the joint committee on taxation do a good job of estimating, you know, how much tax is going to bring in. they overestimate its cost. they underestimate the feedback from economic growth. neil: every time. >> so r

it begins with kevin brady. it will end with kevin brady. he is with me at 4:00 p.m.n spicer now coming to the podium of the white house briefing room. >> hello, everyone. appreciate that help. as you just saw the president was honored to host the swearing -in of attorney general sessions a short time ago. the justice department will return to it is original core mission to uphold the rule of law and to insure justice is administered and enforced impartially for all americans. attorney general sessions -- come on in. >> a little crowded. >> i'm sorry. it is a trump briefing. attorney general sessions is a world class legal mind and experienced prosecutor and the president is pleased to have him finally in place as our nation's top law enforcement officer. after the attorney general's swearing-in, the president signed three executives orders dedicated to standing behind police officers who risk their lives every day to protect us in our communities, reducing crime and stopping cartel violence of the first executive order directs newly-installed attorney general to deve

remember we spoke with representative kevin brady last night. we have two top economists to weigh in. >> federal prosecutors are reportedly investigating 21st century fox over whether it should have disclosed information about sexual harassment settlements. those details as well. >> let's get right to the latest. eamon javers and kayla tau xi are at the white house. >> reporter: a bit of an airing of grievances from the president on a number of subjects. we did hear some important information about the sequencing of his legislative agenda later on through the year in terms of taxes and obamacare. here's what he had to say. >> the tax would be easier in my opinion but for statutory reasons and budgetary reasons we have to submit the health care sooner. early march, mid march and after that we're going to come up and we're doing very well. >> reporter: so the president there saying that health care goes first in march or mid march and then tax reform. you know, politically that could be a challenge for the president because as we know, health care

it comes from paul ryan and kevin brady and ge and dow chemical.x break on the cost of their goods sold. so that why the exporters like this border tax play. so there's pressure on that side. stuart: there is another side. and, ashley, you mentioned this earlier. ashley: yeah,. stuart: if you get a border tax, you pay for, with all the revenue you bring in, you pay for the tax cuts on. ashley: corporate and individual. stuart: it is paid for. it's called pay go. now -- >> i'm smiling because you're falling into this progressivism, liberal paid for. how about letting me keep the money i earn instead of worrying about giving me a tax break here and getting the money there? . stuart: you're arguing with the wrong guy. [laughter] >> trying to be who you asked me to be. stuart: london who was brought on this program to comment about benjamin netanyahu has had to sit and listen to all that's going on. do you have -- >> i have strong commentary. i believe in the free market and my observation is that anything you can do to engage the free market with the

chairman kevin brady is a dear friend. he's a wonderful man.s nobody in this country who has done more for economic growth, tax reform and sound money than kevin brady in the last half dozen years, but i don't think this is the moment to go through an overhaul of consumption taxes and income taxes and all the rest of it. i think this is a moment to score a w. >> do you have to because of the deficit? >> no. no. >> you have to because they've cornered themselves with their own budget rule. they need this to be scored as deficit neutral. >> no. no, they don't. >> they say they do. they believe they do. >> i understand. i am explaining this to many of them. i'm going one by one. >> by the way, obamacare, getting rid of it is deficit harmful because you're getting rid of the taxes initially. >> the reconciliation process is whatever you want it to be. >> exactly. >> i want to make this point. i know about it. we used it years ago. i know the legislation. i know the history. the so-called byrd rule, which is emerging in the middle '80s or something

i'm -- i know kevin brady's office ways and means, has put out information. website of the two guests on recently is piie.com, adam posen of peterson institute, check out his work there. grover norquist, americans for tax reform, atr.org, get you started in those spots. alfred in california, open phones, go ahead. caller: good morning. how are you? thank you for taking my call. i have two comments. one, a question regarding maxine waters when she came on msnbc calling donald trump and his cabinet scum bags, she's a congresswoman, who kind of language is that in regard to young people? i mean, she's a congresswoman calling them scum bags and another thing, the democrats continue to say that donald trump is racist and white supremacist, i did research and democrats are the ones that are for the ku klux klan, why doesn't that come out? why isn't there investigation in regard to ethics and what waters said, calling them scum bags? that is unacceptable. host: alfred, you think the discourse in american politics is at the worst you have seen it? caller: yes, i have

charles: speak of that, kevin brady who is pitching the border adjustment tax.purdue, ceo of two major companies, dollar general, reebok, sent a letter this is nuts. this is regressive tax. it will hurt people but by the same tech ken people say if we go with tax cuts across the board it will send the deficit through the roof. >> which regression do you want to pick? we have regressive reverse tax with mexico comes to the border tax. so we need to level the playing field there. we can't -- charles: on back of american consumers. >> i don't think we are, because if you increase growth, if you have a supply side economic growth to the economy and you grow it, your tax will go up. cost of goods goes down. the ability to have consumer spending go up because they have more money. why it is necessary to have combined tax policy and don't have it written by politicians with ideology or what they want to get for their carveouts. take an economic approach to this, look at effect on the economy t will not be perfect. some will be messy for a while. charles: right. >> you

chris, we heard indirectly from kevin brady, chair of the house ways and means committee, yes, we willt a tax cut bill this summer. you're in congress, you're part of this administration, very close to it. can you reiterate that, that we get a tax cut bill this summer? >> well, i can reiterate, stuart, that our 200-day agenda which takes us up to our august recess, absolutely includes getting tax reform done. now, you know, there's a lot of work to do, a lot of committee work, but it's on the agenda to be done in the first 200 days, which would be just before august, and i heard, i think it was mark meadows earlier talking about the deductibility of the capital. stuart: yes. >> that's certainly in the plan and some people said, what happens if i write off a million dollars and i have a loss. you can carry the loss forward indefinitely, forward, stuart. a company with major capital expenditures could go several years not paying any federal income tax at all and have cash to reinvestor in the growing business. stuart: the bottom line if we get that tax cutting bill, we can see it. even i

congressman kevin brady, chairman of the house ways and means committee.ing from finalizing tax code. how's that intro? >> i'll take the second part of it any day. >> doesn't even need to be said. so obvious. we had leader mccarthy on earlier. i'm worried about this piece in "the journal." the chance of getting anything done through a vote, through legislation, becomes harder and harder if you got to do above 51 or 52, as all these executive orders are done. as the democrats get more and more entrenched in obstruction, we could end up like the last six years of the obama administration. basically nothing got done unless it was executive order. >> well, i hope that's not the case. we're asking democrats to engage with us on tax reform. look, their communities are seeing the same frankly struggling economy we are. they're seeing their companies move overseas, continue to do that. i hope they engage. the bottom line is republicans are going to move tax reform forward in 2017. we've had five years of work certainly in the house to be ready for this. senate rep

i just got off the phone with kevin brady's fs., a lot of ups and downs in the tax reform process. besides, the people that want to kill border adjustment, how are they going to raise the revenue needed to get the corporate rate down? one option, of course, is expanding the dpef cisit -- deficit not making it revenue neutral. when did they decide to willingly add trillions of dollars or billions and billions of dollars to the federal deficit? one person who has the potential for breaking this log jam is president donald trump. he's expressed mixed signals so far. if he weighs in strongly, that could change the equation. >> that is what we all keep waiting for. john harwood, thank you so much. steve bannon likes it. >>> meantime, most of the big retail ceos met with the president earlier this week. they are largely against any border adjustment tax. by the way, retail report -- earnings next week. joining us now is brian gildenberg as well as oliver chen. oliver, i'll start with you. listen, if anybody is looking for some insight in

the chair of the house ways and means committee, kevin brady, outlines his goals for overhauling the tax code during a tax policy forum hosted by georgetown university law center and cosponsored by the

they're scheduled to meet with kevin brady.hairman of the house ways and means committee later on this afternoon. >> thank you very much, yla ylan mui. let's get right now to courtney reagan. >> a statement from target on the meeting with president trump this morning, and target is calling the meeting positive and substantive. they said they discussed policies about economic growth, job creation, but then also said they discussed with the house of representatives proposal for border adjustability tax, which is a priority issue for target, because it will raise prices for american families on everyday essentiallies. if enacted, it would have a profound implications for our guests and business. target we believe that anything that raises prices for families is not a good idea for america. target set they will continue to immediate with the house of representatives, as well as those members in washington, to continue these discussions. back to you. >> thanks very much, courtney. at least i was hoping forsh i think a lot of us were

kevin brady has done a great job working through this they have got it pretty much teed up.ome parts that have to be worked out yet, but i think overall it will be a good thing and boon to the economy. think about what obamacare has done to the economy and our restrictive tax code along with rules and regulations. you have seen already regulations that are reeling back that were burdensome to the businesses, and startup companies. and so these are things we're going through. we're going through growth. anytime you go through growth and change people get upset and they're a little bit nervous but in the end you will see it have a good product. neil: talking about kevin brady, the house ways and means chief, when he was with us last week, sir, one of the things he said it will be comprehensive and corporate taxes cut dramat as well as individual tax rates, addressed, cut dramatically. >> right. neil: how soon do you think those things would be in effect? that is a gut call on your part and other things at play, but what do you think? >> i think something will be presented firs

we have to address both of them. >> kevin brady, ways and means. >>> a lot more done.t more still to do ahead. live reaction from iran and the president's plan for more sanctions. >>> plus snap chat filing to go public, could be the biggest ipo in years. what you need to know. forget the game on sunday. jane wells found out just how much the pats and falcons players know about the marks and the economy, and one stock having a very ugg-ly day. stuck around for much more power lunch. door?ed, th cradeso i c pt deea cooror. hat t -appppt on thisw ly atd deea cooror. hat t anhiursupreed, harda an aipproyour weag gy te ooror. hat t anhiursupreed, harda an >>> another big headline today, snap chat filing for a massive public offering that would value the company between $20 and $25 billion. since it is our job, not yours to read through boring financial documents here are the tle things you need to know about snap chat's ipo to sound smart tonight. as hot as the company is it lost more than $500 million last year and says could never become profitable. two, part of their pla