sahil: there is talk of a potential 15% or 20%.u prevent individuals from abusing that rate by restructuring themselves? experts say it would take is significant expansion to the scope of the irs. rep. brady: we are focused on lowering the rates for every size business. separatet, we want to business from wage income. we think there are good ways to do it. we are working with the treasury department since the day secretary mnuchin took office to make sure the run out abuses in that area. we recognize it -- there are not abuses in that area. we recognize it. we don't want to invite the irs more into your life. planimplicity of this moves the irs out of your life. are you open qad per patriot idea that starts a decade -- speculator because republicans have suggested to me that would help pay down the long-term revenue? rep. brady: we welcome those ideas and clearly mortgage adjustment plays a key role. incentive for companies to move their jobs or headquarters overseas, leveling the playing field and providing us revenue like our com

sahil -- sahil kapur. what does infrastructure mean to you. chief strategist have suggested borrow that money. what do you think of that idea? >> well, we look at it more of investment. we think there are multiple ways to do it. one of the things chamber long champions, we haven't raise the motor vehicle fuel tax. which fund highway and bridge infrastructure since are the early 1990's. there are a number of state who including republican states who moving themselves to raise the motor fuels tax. that's one way potentially finance it. it will be a long term solution. >> are you open to that? >> we were very much open for it. we've supported raising the gas tax. there's also private investment. most of the rest of the world utilizes private sector investment for infrastructure. it bring some of the best elements of the private sector in terms of accountability creating financing mechanisms, reliability and project deadlines building infrastructure. we don't really doe that. we believe there's a huge opportunity to do what australia and so many o

that gets back to sahil's earlier point about permanency. if you really want to unlock that type of capital investment that you need, that's kind of the seed of future growth, permanent pro growth tax reform is kind of the linchpin. that's one of the reasons that we're pushing so hard to get it done. heather if we did tax reform, do : you think that takes the economy to 3% growth economy? niel: well, i certainly don't see how we get there without it. there's a lot of factors that will contribute to whether or not we get to 3% or beyond 3%. if we're stuck with the current tax code, very difficult to see how we get the capital allocations right and incentives right for business investment to ever return to 3% plus growth. >> with congress looking at september deadlines, i'm turning page to taxes, do you believe obamacare repeal is dead? neil: it's something they moved on for right now. that's probably a smart move. it's clear that there wasn't the votes on capitol hill for any of the various proposals that were out there. sometimes you can tak

sahil: it depends on who you ask.ublicans in the committee to work on taxes are not expecting anything more from the white house. they think it's on them. view, setting the the white house hasn't necessarily promised that there will something -- that something will come out. julia: do you get a sense that gop members, congressmen, arts trying to distance themselves to a greater extent? i read a lot of columns dedicated to this over the weekend. paul ryan once again posting on facebook today saying that he's sahil: president trump and steve bannon think alike. it there was anti-trade, and i am a gratian, stoking these grievances well before steve bannon came aboard. he fueled those but did not instigate those. what was your other question again? julia: the prospect of policy going forward in terms of necessarily what this white house can achieve. let a move on and ask you something else. sahil: the republicans did something themselves, that you mentioned. in charlottesville, that's absolutely true. the vastacceptable t

joining us now is sahil kapur.s letter says just in general on principle but the fact that the democrats are engaging with this issue in particular. should we read this as a good sign that there will be a bipartisan effort to tackle tax reform? sahil: i would say it's pretty much the opposite. 45 senate democrats and all but three of them can together and wrote a letter laying out several preconditions for even agreeing to speak with republicans and work with them in support of a potential tax reform bill. one of them is they wanted to remove the process of using reconciliation or you bypass the 60 vote rush holt in the senate for tax reform. this is what republicans are considering doing. that by itself eliminates the possibility of bipartisan support unless democrats change course. another thing democrats demanded is that any tax changes in this bill do not add to the deficit. they worry that raising the deficit puts more pressure to cut programs that they support like medicare, social security, and medicaid. i a

sahil kapur from washington, thank you for that update.hat next google engineer fired for his memo on gender differences in the tech industry -- differences, and the tech industry made its comments. there was an interview posted online. he discussed the reasons behind the memo. >> a lot of this came from seeing problems in our culture a google, where a lot of people that were not in this groupthink felt totally isolated and alienated. there were many people that came thinking ofid, i am leaving google because it is getting so bad. really thought it was a problem that google itself had to fix. coo sherylbook's sandberg the memo on her facebook page. she said inequality in tech is not due to gender differences, that is a stereotype that persists. we all need to do more. we what they are later for her -- later from her in this hour. the culture wars brewing within the tech industry. coming up, facebook is bolstering free speech. their latest move and the impact. this is bloomberg. ♪ emily: facebook is doubling down on its efforts to combat ha

sahil: excellent question.s not one, the border adjustment tax was the centerpiece of the plan. they were going to use the revenue to pay down a significant cut to the corporate tax rate. that is gone. i asked kevin brady what will be there in its place. there was not an answer. there are more questions than answers right now, but the interesting contrast is about the last big tax reform in 1986 took 2.5 years to get done. in the middle of those years, ronald reagan campaigned on a and he won a landslide victory and even then it was tough and it came down to the wire. these republicans are trying to do it anymore fraught political climate and under a year. scarlet: thank you for setting the scene. sahil joining us from santa barbara, california by phone. president trump does not want a fresh coat of paint on the american free trade agreement, he wants to strip it down to its studs. that was the takeaway on the first day of talks between canada and mexico to revise nafta. here with my what besideare looking for

sahil: that is true. he campaigned pretty vigorously against it.ing against it was less archaeological. -- ideological. he said he did make a better deal. he was not specific about what the better deal would look like. within the administration, as to whether -- there are people who have warned that walking away with it would not do anything big, and moving closer to the path of a nuclear weapon, it is a very difficult position. politically, he didn't say one thing, but as we have seen, it is not quite as simple as a campaign promise. scarlet: some notable -- sahil kapur joining us from washington, thank you. looking at losses from u.s. equities, the nasdaq down, off more than 2%, the dow down more than 190 points. ♪ ♪ "what'd you miss?" ended with a on lows, with tensions over the caribbean as low knocking the market out of it still -- korean peninsula knocking the market out of its doldrums. i'm julie chatterley. scarlet: and scarlet fu. joe weisenthal has off for the week. we want to give you a look at how markets have ended the day. juliet ment

sahil: they are not coordinated.nce president trump made that fire and fear he threat to north korea, many people have been trying to calm the waters, even going out of the way to tell reporters and the new york times that the president's comment wasn't vetted and people should not read too much into it. a pretty extraordinary thing for the government to say, that the words of its leader should be discounted to a point. say ift heard him anything, the fire and fury threat wasn't tough enough. andy have rex tillerson james mattis trying to walk that down sayingm things that it's not so much north korea's rhetoric, but their actions. they are not singing from the same song sheet. is it a good cut bad cop strategy? i don't have the answer to that. but when there is doubt, i would not assume there is coordination going down here. talking to different people here. is he actually talking to the north koreans and rex tillerson is trying to appease china, south korea, japan? violence and military responses and the way forwar

sahil kapur joining us from washington. thank you. politics because former president's bill clinton and george bush appeared. it here is what both of them had to say reflecting on their time in the white house. you are in they oval office, you learn the secrets, nuclear codes, the crises we might be getting into. what is the biggest surprise you found? clinton: how easily i could be turned into a two dimensional cartoon instead of a three-dimensional human being. you have to discipline yourself about what to talk about, how to talk about it. you have to keep remembering that there are all these leaders between you and people that didn't used to be there. that surprised me. i thought i was a pretty good communicator. i fell on my face for five times until i figured out how to do it. president bush: right after the inaugural parade, i decided i would go to the oval office to see what it felt like. unbeknownst to me, and the car had called upstairs and asked dad to come in. i was sitting in the oval office just taking it all in and in wa

sahil -- sahil kapoor is politicals national reporter. speech alongside mitch mcconnell about u.s. economic policy. over the weekend, mnuchin emerged as one of the staunchest defendants of the president as he rejected pleas from classmates at yale to resign from the administration. what kind of stability does mnuchin lend to the policy agenda? we ask our treasury reporter, with us from louisville, kentucky, where mnuchin spoke earlier today. he gave a number of different comments on the economy. let us start with that letter over the weekend. the fact that he is staying with the administration -- he argued that he still has confidence in president trump, that he thinks his presence is important in the administration -- does that sort of lend some gravitas to the economic policy question? saleha: you know what? it does. from developing -- dissolving business councils to departures of the likes of gary cohn and steve bannon, that is riling financial markets. investors are trying to your out how much this administration can actually accompli