ylan mui on capitol hill. >>> joining us to talk more about this is cnbc contributor larry kudlow. >> already waving the checkered flag. >> first of all, i really like this statement and maybe we'll try to read between the lines, but the v.a.t. tax was holding things up, and we've buried that several times. kept coming back speaker ryan actually in recent days mentioned it again, i go, hu there's nobody there for you, and now they have made it official so that's really good now let's get on, you know, to the main chance, and some interesting things they real singled out not rates yet so much, but small businesses are going to get a business tax cut that was a very important part of the trump plan that steve moore and i and others drew up, mnuchin and so forth they talked about an interesting statement about expensing. they will have unprecedented write-offs. >> i know you were pushing for this. >> always. it's very important from a cost of capital standpoint, and i'm assuming that means full expensing if they can fit it in, maybe not. the other thing is repatriation is going to be in

because everything is etf and the computers are in charge let's bring in senior cnbc contributor, larry kudlow. thank you very much for joining us on such short notice. do you think that priebus being out and john f. kelly, a very strong-willed marine coming in, maybe can resuscitate some of the things, the tax reforms, the infrastructures that we just talked about >> well, i think you're going to see a more disciplined white house staff. john kelly will probably be closer to, let's say, isa james baker or an andy card, people like that, and have a tougher process. you've got all these people who are assistants to the president, you know, walking in, at any time and circumventing the chief of staff my guess is the former marine will, in fact, change all of that and you will see a more disciplined process. that's what i guess. by the way, i think it's remarkable -- scaramucci telegraphed this what he said in his temper tantrum against priebus, i believe, must have come from the president and that was a leading indicator and so now i'm guessing, this is just guesswork, brian, because i'm not in

but you're larry i don't care about deficits kudlow these days. >> do you see the source on that it says people close to, not even the white house, close to the tax -- >> i use that sometimes. >> well, i wish you wouldn't you're a great reporter. >> thank you. >> that article is wrong i can just tell you, i have been down there a lot and they're calling in the bull pen right now so we've been down there a lot. >> what i'm hear as good the same 15% or 16%. >> 16. >> on corporate. >> that's what i'm hearing. >> more than some would report it. >> right that was the campaign number with 15%. repatriation and immediate expensing and you can throw in the doubling of the standard deductions for individuals. >> sounds like you need to be at the senate and not the white house. >> that's all you need. >> are they on board >> neutral though larry. >> that depends. that's the thing deficit neutral is better than revenue neutral. you're right about that. absolutely deficit neutral includes spending restraint deficit neutral includes things like asset sales that are not being calculated regulatory cro

. >> all right thanks very much cnbc's senior contributor larry kudlow and jared bernstein at the center of budget and policy priority, also a cnbc contributor. welcome. i look at what senator shumer wrote in "the times" this morning, basically laying out this better deal plan. jared, they can't do anything until they get some wins and start to control the legislative branch at the very least is this the program that will get them those wins? >> first of all, let me point out you may have to wait for jared kushner but you don't have to wait for jared bernstein. >> no. an all-jared a-block we're going to jared >> you're right, they can't do anything until they get some wins and that's a nontrivial part of what this is all about there's nobody walking around thinking this congress, who by the way isn't able to pass republican prioritiepriorities,n to take up the democrats' prioriti priorities but they have to signal voters for 2018 that while donald trump has certainly captured the interest of people who have been left behind, his agenda doesn't really reach them. they're putting out an ag

when we've talked to larry kudlow about this process. he said health doesn't have to have any bearing on the tax package. do you agree with that and if they change this to a skinny repeal or what have you and it gets through or doesn't at all, does that automatically change the options in front of them for doing something with tax >> i don't think so. i don't think republicans, especially in the mood they are now, going to let a cbo score, unless it's absolutely ridiculous, stand between them and a tax cut. if it's a bill that's going to lose $4 trillion, $5 trillion, one thing, but a bill that would be a negative 1 drill yonel, i don't think they need to let that stop them but they need to get moving on that if they want it to happen. >> jimmy, thank you for joining us this afternoon. >> you bet. >> good to see you. >>> our john harwood is standing by in washington john, we thought maybe the markets would applaud this as art cashin had suggested, that they did vote to speak about the bill, to open that up for debate, but we've sold off

conversation cnbc economics reporter steve liesman, jeff cleveland and cnbc senior contributor larry kudlow so now we've got a debate. the fed sort of in between a rock and a hard place. wall street expects them to keep going with hiking ates, but we're not seeing a whole lot of inflation, and we saw that in the wage growth numbers. >> i agree 100%. by the way, more people working more hours does not cause inflation. that's a good thing, not a bad thing, all right prosperity does not cause inflation, so, therefore, i conclude and it was good jobs numbers the fed should restrain its restraint. they should go very, very slowly here. >> don't you think they will anyway >> i don't know. it's hard to know -- >> most economists are saying expect another hike. >> of course, expect another hike if you look at forward-locking market price indicators of inflation, gold, the dollar, commodity baskets, yield curves, spreads, i don't see any indications of inflation whatsoever inflation is too much money chasing too few goods. it's a monetary phenomenon it's not about working and, therefore, as long as

. >> in an effort to do check a win column, larry kudlow has argued do corporate tax reform first.e heard at one point, mitch mcconnell was thinking, you know, we're going vote on health care one way or the other. the thing dies, at least we can move on. that seems to have disappeared and they're still mired in this. should they drop it and move on to something easier? >> i think they should definitely get tax reform done they should have focused on tax reform first, because there's more consensus around it, and wins produce wins on capitol hill failure on health care will make it more difficult, i think, for tax reform to get done, or anything meaningful. but i think that's one of two options republicans have right now. you figure out something on health care, and you get it done one way or the other, and you claim victory. or you go out to the american public and say, this has been very difficult it's a complicated issue we've been spending decades on this issue and haven't come up with a viable solution, including obamacare. and we're going to put eight senators on it, eight hou

where is larry kudlow to cheer this on. they are delaying the senate's august recess to provide more time to work on legislation and get health care reform done and move on to tax reform. a lot of people have been calling for this for weeks an weeks and weeks. now, they apparently appear to be proceed ing with that. >> the house is going to be a lot more difficult to convince there are more than 50 local house races, many of them in california and some other big states that are deemed as bein competitive. this will be a more difficult squa sway to convince the house >> one of the prominent men said he was going to dominate the business >> michelle, hats off to you, because you saw this coming. >> you didn't have to say that >> dalian wanda, ceo who brought the amc and spend $3.5 billion to buy hollywood's production company, legendary entertainment and most recently fritried to by dick clark's production. he bought big trophy buildings in london, new york and helped the art market buying a $28 million picasso. he took on di

. >> and he hasn't because people on right, smart, smart economists like a larry kudlow, like you, othersthat, you're going to cost the economy. david: you know, one of biggest myths about trump is that he doesn't listen? he does listen. >> maybe. who does he listen to? david: donald? he listens to you. [laughter] i've seen some of his nasty tweets. >> has he? david: i don't know. >> news for charlie. david: charlie, elizabeth, thank you very much. we are staying on top of all the developments out of g20. it is moving fast and furious. we'll bring you more details right after this. ♪ . >> with such a tight job market, raises should start to rise; right? >> they should start to rise, and that's, you know -- that's what you fear. there is one interesting part of today's report, which is the number of americans in part-time jobs that are looking for full-time jobs. and that number is still a little bit high. that number is around 3.3%. and that's important because there's still a little bit of slack in the economy. david: salaries are kind of slack as well, that's why we need a tax cut. mean

summit in germany, all of that leading to a bilateral sit-down joining us is cnbc contributor larry kudlowconomist, what do you want to tell me about foreign policy >> well, first of all, my hats off to heaarry rubel, we used to call it peace through strength can we continue to call it that. i was around when reagan started the missile defense system, derot torriely referred to as "star wars." it turns outs he was way, way ahead of his time. the question is the united states has to be willing to fund tremendous investment in missile defense. we have the triad, right land, air and sea. all of that stuff is getting better and better, but we need to make sure it is financed properly we probably have much more work to do. i'm sure not an expert, but that's so vital to this. uk negotiate with th ththe noi point they're going to say directly to the north koreans, you keep doing this, we're going to knock them down, we're going to take you out, no matter what, we are going to take you out, we have the capacity and the technology to do it. get ready. there's no more free lunches here, i.e. no more

. >> you sure you want to go through this >> larry kudlow. >> the biggest difference between cbo andrump's budget is growth and the revenues that accrued from the growth. >> the cbo is going to be lower. >> free trade. >> the trump's budget is 3% growth but, having said that, what's so interesting here and i did not notice these until i saw these numbers. the trump's budget spends significantly less than the cbo baseline >> why would they do that? the cbo of their current service lines keep ongoing up and budget reducti reduction. >> there is a big documents. >> i don't have all those details yet. i think some of it is going to be entitlements and some is discretionary and trump puts a real ax to the discretionary they still go up but they go up on a small amount. >> they adodon't know it yet. >> is it just me, guys >> with all respect of the women in the works there, are they guessing >> no, they have models. >> healthcare is not in there. >> right >> so why bother >> why bother? >> i made dinner with no meat or vegetables or dairy or bread >> that's the key to the exercise how do w

it was written by art laffer, larry kudlow and steve moore. it is right there.it is about 15% corporate tax rate. neil: it mimics brady's, not too far off from brady's. >> bells and whistles they have to to debit but there is a plan. why didn't they go with their best hand? their best hand was taxes. neil: absolutely. >> there is budget savings in obamacare. you will never unravel this monstrosity in a day. neil: where i give the president some slack. i think he thought, this is you how congress works. he is a new president. no experience. comes in, trusts all these, we've been working on this for seven years. we've got something ready to go. we've got a plan. >> they never said that. neil: well, but they had something they felt could unite the house and senate which it never happened you're right. i think now he is going to have like this jfk awakening i can't trust these guys. i have got my own idea on taxes. the question then going forward, will it work? will we see some action this year. >> he will need them. they want to do it. everybody in congress is talk

sense that something will come out of this by way of repeal and replace >> well, we hear it from larry kudlow all the time that necessity is the mother of invention and in the case of republicans, getting something passed on health care, i think it's a necessary see i don't think they can put themselves forward on a ballot in 2018 after having campaigned for seven years to repeal and replace obamacare and then not deliver and everybody knows that and that's why i think they keep coming back to the together. this unfortunate news about senator mccain has made it more difficult to get anything passed. >> when i listened to president trump imploring the senate republicans to come together and get something done before he talked to the fake news "new york times" later in the afternoon, i found myself thinking, this guy's pretty good he's a good salesman where's he been? >> it's a great question, tyler. he is a great salesman that is one of the things i think many of us thought that donald trump would be really strong at. health care is a complicated topic. where perhaps he's fallen down some is t

we're joined by senior contributor larry kudlow he is here at post nine us with.er chief economistist to joe biden, cnbc contributor jarrod bernstein what do you think the pred will be president will be asked and if he is asked, what would he say? >> as little as possible look, i'm not part of this story. donald jr. should have never taken the meeting, that's point number one on the other hand this honey pot woman lawyer was not associated with the russian government or if she was we have no evidence of that. the other lawyer involved in london is a complete whacko. basically, i think they were shaking down some trump people for their own cause which is human rights and adoption. by the way, i might favor that cause. i wouldn't have done it this way. i give donald jr. credit for being transparent. he knows he made a mistake and he's been transparent. can we talk about tariffs and taxes and growth and interest rates? >> which do you not think have been buffeted at all about it russian news i assume. >> nothing i don't see any evidence of it >> all right >> michael

. >> they abandoned comprehensive tax reform as a policy strategy here and instead, as larry kudlow suggested, they are going just for the cuts. the cuts under budget reconciliation have to sunset in ten years. so it's not a permanent fix to the tax code >> not as powerful to gdp? >> it could be powerful in the short run but not the long run >> there's a paper which has two parts to it. all potential fed officials said you can get to 3% growth through trump policies but they make the point that these guys just made which is a little bit of a shot across the bow if you get there with higher deficits you essentially negate the positive effects of these pro-growth policies if you boost deficit. there's a bit of a yes, we can do this and it's a good idea but don't do it this way >> and not at this time. >> one more point. i'm now officially old i remember '86 what happened after '86 is we ran what seemed like big deficits at the time i was at the white house in 1989 everyone was scrambling to deal with these deficits. the first thing that happens in that environment is you open up the tax code an

contributor evan newmark and jim caan is with us as well, chief executive officer and cnbc contributor larry kudlow us on this friday as well michael, if you could, you know, we started with the bank, this morning and yet they were the only sector down at last check. >> yeah. >> we had some of the macro numbers. what do you think is going on with the record closes >> the market is sort of comfortable enough with this story that the economy is kind of back in the 2% zone you have high liquidity and rates that are going to stay low and the fed that's probably been slowed down versus what it wants to do, and what does that mean it means you buy growth stocks and guy global industrial stocks which are doing well a lot of stocks related to financial assets themselves, and the rest of of it sort of takes care of itself i think a lot of investors are probably like me i'm looking for behavior of of this market to find something to assail and find weak points and evidence that it's about to falter you're not really seeing it based on the market action. >> and you can add something to a sale always. >> janet

santoli and evan newmark on a friday and nancy tangler from heartman financial and cnbc contributor larry kudlow to everybody, and michael, first of all, how much is this weakness keying on from europe we did have decliners. >> on the big selloff on the german index, those indexes are down 4%, 5% from the recent highs, a substantial pullback and the weakness in the dollar getting into people's heads, kind of a measure of a low metabolism for the u.s. economy, among other things, but this is the way the market behaves morning declines are fleeting and we bounce and even on down days, it's down not very much. 40% of stocks are up even on down days and that's what we had today and by the way, the volatility index closed under 10 it's not going to be like this forever. this has been the character of this market all summer where you have a lot of offsets and when you have obvious weakness it's not across the board. >> visa was leading the way in the dow. ge, evan, a big dragger. plug power popping nicely today on the tie-up with walmart that's for the russell anyway. >> i don't even know what plug po

done some of the things the vice president talked about and some of the things that folks like larry kudlow steven moore have talked about, pick the things that make the most sense, bring back some of those offshore earnings, and reducing the rate, broadening the base but border adjustment tax is too complicated and it's going to hurt too many americans and raise prices on the working class. >> matthew, if i can pivot just a bit and talk about amazon whole foods that proposed merger i'm wondering how the national retail federation views that people would say that maybe the ftc and actually a congressman has said that the ftc should look into this merger, this could really decimate retail in the future if you let amazon go into these businesses time and time again what's the view? is amazon a member of the nrf? >> amazon is a member of the nrf and so is whole foods. and so are walmart, and you know, so it's -- what we're seeing here is one more chapter in the rapid transformation of the industry and if you think about the walmart and jet deal last year, and now the amazon and the whole foods

and you know, larry kudlow always talks about king dollar nobody wants to devalue the currency we seeeadwinds mean to multinationals those aren't fun either. what happened in the last two weeks? >> this is interesting the dollar is down 9.5%. that's a huge move and i think it's because we realize now that we keep -- the administration is going to face head line risk after head line risk and every time that's happened we'll economic policy that we really hope for six months ago is getting pushed further and further back, possibly to oblivion i actually think that's the reason that janet yellen hasn't taken a turn for dovish. when she was hawkish five months ago she really believed there would be regulatory reform, tax reform and we were being looing at greener pastures. now none of us are so sure and that's what's taking the air out of the dollar. >> all right, jim, thanks. we're going to keep it short thank you. >> thank you >> this is me, too petiq listing on the nasdaq today the company will trade under the symbol petq offering 6.25 shares at $16 a share here ringing the opening bel