.
MARIA: WELCOME BACK, IT IS
TAX DAY MEANS MILLIONS
AMERICANS ARE RUSHING TO BEAT
THE MIEBLT TONIGHT DEADLINE TO
GET TAXES IN A, PRESIDENT
TRUMP TOUTING THE SUCCESS OF
THE REPUBLICAN TAX REFORM
PLAN, HE DID THAT YESTERDAY.
>> NEXT YEAR GOING TO BE A
SIMPLE FOR THE MOST PART ONE
PAGE MAKE IT A LITTLE BIT
BIGGER BUT IT WILL BE SIMPLE
AN EASY TO DO, AND VERY
IMPORTANT WE ARE GOING TO HAVE
A LOT OF MONEY LEFT OVER FROM
WHAT YOU HAD.
AND WHEN YOU DIDN'T GET ONE
DEMOCRAT TO VOTE FOR IT.
>> PRESIDENT TRUMP ALSO WROTE
OP-ED IN "USA TODAY"
REITERATING THE BENEFITS OF
THE TAX PLAN JOINING ME SENATE
FINANCE COMMITTEE CHAIRMAN
SENATOR ORRIN HATCH SENATOR
GREAT TO SEE YOU THANKS
SOCIOMUCH FOR JOINING IS THIS
MORNING.
>> GREAT TO BE WITH YOU MARIA.
>> WE'RE TALKING ABOUT TAX DAY
TODAY, OBVIOUSLY GOING TO BE
DIFFERENT STORY NEXT YEAR
AFTER YOU AND YOUR COLLEAGUES
DID IN FACT SIGN INTO LAW THIS
-- AND APPROVE THIS TAX PLAN
HOW WILL THINGS BE DIFFERENT
SAY NEXT TAX ERODE?
>> WELL AVERAGE FAMILY FOUR
SAY EARNING 73,000 DOLLARS A
YEAR THEY WILL HAVE A 2000
DOLLAR TAX CUT.
BEYOND WHAT THEY ARE PAYING
THIS YEAR.
WON'T BE TILL NEXT YEAR BUT
THAT IS WHAT THIS TAX BILL
WILL DO OTHERS WILL SAY, IT IS
REALLY A MAJOR, MAJOR CHANGE
IN TAX LAW.
THAT WE THINK WILL BE PRETTY
GOOD, THE PRESIDENT DESERVES A
LOT OF CREDIT FOR IT.
>> SURE DOES SO DO YOU, SIR, I
KNOW THAT.
>> THANK YOU.
>> IT HAD IMPACT ON ECONOMIC
GROWTH, BUT I WANT TO TURN TO
THIS WORRY ABOUT THE
BALLOONING DEFICIT WHETHER OR
NOT THAT IS GOING TO TAKE OUT
SOME OF THE
SOME OF TH
SOME ST TH
SOME S
SOME OF
SOME OF T
SOME OF THE
SOME OF THE O
SOME OF THE OOM
SOME OF THE OOMPH
SOME OF THE OOMPH T
SOME OF THE OOMPH THA
SOME OF THE OOMPH THAT
SOME OF THE OOMPH THAT W
SOME OF THE OOMPH THAT WE
SOME OF THE OOMPH THAT WE HA
SOME OF THE OOMPH THAT WE HAVE
SEEN BUDGET OFFICE PROJECTING
RETURN PUBLIC DEBT CLIMBING TO
29 TRILLION DOLLARS BY NEXT
DEDICATING SPEAKER PAUL RYAN
SAID SUNDAY TRILLION-DOLLAR
DEFICITS INEVITABLE BECAUSE OF
ENTITLEMENT SPENDING WE KNOW
1.3 TRILLION-DOLLAR OMNIBUS
BILL BUSTED THINGS REPUBLICANS
IN HOUSE VOTED ON BALANCED
BUDGET AMENDMENT LAST WEEK
COULD HAVE MADE DEFICITS
UNCONSTITUTIONAL WHERE DO YOU
SIT.
>> PAUL RYAN IS RIGHT WE'VE
GOT TO DO SOMETHING ABOUT THIS
MEANS CONGRESS HAS TO PULL
GETTING BACK ON A LOT OF
UNNECESSARY PROGRAMS THAT ARE
EATING US ALIVE I THINK THE
PRESIDENT HAS TO TAKE THE
LEAD, BECAUSE THE CONGRESS IS
NOT GOING TO DO IT UNLESS IT
MASS PRESIDENTIAL LEADERSHIP
BEHIND IT AS WELL.
WE ARE GOING TO HAVE TO START
GETTING SERIOUS ABOUT
SPENDING, AND I THINK YOU
KNOW, WE'VE GOTTEN SERIOUS
ABOUT TAXING THIS YEAR LET'S
GET SERIOUS WITH ABOUT
SPENDING IF WE CAN DO THAT CAN
RESOLVE ALL PROBLEMS KEEP IN
MIND THEY DON'T DEMOCRATS
NEVER TAKE INTO CONSIDERATION
SOME REPUBLICANS DON'T EITHER,
THE STIMULUS THAT WILL COME
FROM CUTTING TAXES FOR PEOPLE
ACROSS THE BOARD, WE ARE
HOPEFUL CUTS IN TAXES WILL
CAUSE PEOPLE SAVE MORE INVEST
MORE DO MORE WITH THEIR MONEY,
OF COURSE, ACTUALLY MAKE THE
ECONOMY BETTER.
>> SO DO YOU THINK THAT WITH
THE DEFICIT OF A TRILLION
DOLLARS GOING OUT DO YOU THINK
THAT IS GOING TO CUT INTO
ECONOMIC GROWTH THEN BECAUSE I
AGREE WITH YOU, PEOPLE WILL BE
ABLE TO SAVE MORE AND SPEND
MORE, TODAY DOWN DEBT.
BUT WHAT IS THE IMPACT OF
DEFICITS ON THE SPENDING?
.
>> WELL, A LOT DEPENDS WHETHER
THEY CAN CUT DEFICITS BY
INCREASING THE -- VOLATILITY
AND GROWTH OF OUR ECONOMY,
BECAUSE OF THE INCENTIVES THAT
COME FROM CUTTING TAXES.
WHENEVER WE CUT TAXES WE
GENERALLY CAUSE UPSURGE IN
BUZZ AND EVERYTHING ELSE IN
OUR ECONOMY, WE ARE HOPEFUL
THAT WILL HELP TOO WE'RE GOING
TO HAVE TO GET SERIOUS IN
CONGRESS ABOUT CUTTING SOME
ENTITLEMENT PROGRAMS THAT GO
ON AND ON NO MATTER WHAT SOME
DON'T DO VERY MUCH GOOD.
>> WHERE GROWTH IN SPENDING IS
WE KNOW THAT SO ARE YOU
SUPPORTING THIS WHITE HOUSE
PLAN TO -- RESCISSION -- TO
CLAW BACK BILLIONS OF DOLLARS
IN SPENDING FROM THAT BILL?
>> A WELL I AM LOOKING AT IT
VERY CAREFULLY, AND WANT TO
SUPPORT THE PRESIDENT IT IS A
OFF TO JOB ASK BEING
PRESIDENT.
ESPECIALLY WITH ALL THESE
PROBLEMS THAT -- THAT
PRESIDENT TRUMP HAS SO I AM
GOING TO GIVE EVERY
CONSIDERATION I POSSIBLY CAN
BUT WE HAVE TO LOOK AT
EVERYTHING HOPEFULLY, WE CAN
GET THINGS IN ORDER.
>> SENATOR LET ME SWIFT GEARS
ASK YOU ABOUT NAFTA VICE
PRESIDENT PENCE THE OTHER AT A
SAID WEIGH COULD BE WEEKS AWAY
FROM AGREEMENT I KNOW THAT YOU
AND YOUR COLLEAGUES BILL
NELSON ARE URGING ROBERT
LIGHTHIZER TRADE
REPRESENTATIVE TO ENSURE THAT
THE TRADE AGREEMENTS INCLUDE
STRONG COPY RITE PROVISIONS IF
WE ARE CLOSE TO AGREEMENT WITH
MEXICO AND CANADA.
>> WE KNOW IF WE DON'T PROTECT
COPY RIGHT WE ARE LOSING A
GROWTH ASSET OF NATION THE
REST NEEDS TO GET WITH IT WITH
REGARD TO PROEKTSDZ OF COPY
RITES THE LAWS THAT COME FROM
THAT I DON'T SEE WHY IN IB
WOULD OBJECT TO DO DOING THAT
EXCEPT SOME PEOPLE JUST
BECAUSE IT IS -- IT IS ANOTHER
PROTECTION THAT THEY DON'T
WANT TO BE INVOLVED.
I THINK SO, I THINK WE HAVE TO
BE VERY CAREFUL WITH NAFTA.
I AM VERY CONCERNED ABOUT SOME
OF THE APPROACHES THE
ADMINISTRATION HAS RAISED WITH
REGARD TO NAFTA HOW YOU KNOW
IT COULD CAUSE US AN AWFUL LOT
OF DIFFICULTIES AND I JUST
HOPE THAT PRESIDENT WILL
REALLY LOOK THIS THROUGH VERY
CAREFULLY WORK WITH US, WE
WILL COME UP WITH A SYSTEM
THAT I THINK WILL WORK PRETTY
WELL.
>> WE'VE GOT ELECTIONS IN
MEXICO THIS SUMMER DO YOU
THINK WE WILL HAVE A NEW
AGREEMENT IN PLACE BEFORE
THOSE ELECTIONS, SIR?
>> WELL I HOPE SO I HOPE AN
AGREEMENT THAT MEXICAN PEOPLE
CAN ACCEPT THAT WE CAN ACCEPT,
TOO.
SOME OF THE SUGGESTIONS THAT
HAVE COME FROM -- SOME OF THE
OUTSIDE PEOPLE HAVE BEEN --
WACKO AS FAR AS I AM CONCERNED
I THINK WE'VE GOT TO REALLY BE