AMERICANS WILL SEE LOWER TAXES
AND BIGGER PAYCHECKS BEGINNING
MARIA: JOINING US NOW FROM
ASSISTANT SECRETARY OF AFFAIRS,
TONY SEYED.
TRAINED AS THE PRESIDENTS
TIMELINE CORRECT?
JUST TWO MONTHS FROM NOW?
>> ABSOLUTELY.
THERE SHOULD BE NO REASON IF WE
DON'T OBVIOUSLY GET THIS PASSED
FOR CHRISTMAS THAT WE CAN'T GET
THE IRS PREPARED IN THERE
WORKING IN MONITORING CLOSELY
WITH US IN WATCHING WHAT WE ARE
DOING.
THIS IS EXACTLY WHY WE ARE DOING
IT AND WHY THE PRESIDENT ALL
ALONG THROUGHOUT THE YEAR HAS
PUSHED TO MAKE SURE WE GOT IT
DONE THIS YEAR AND THE BENEFIT
WOULD HAVE BEEN RATHER QUICKLY.
THERE STILL ARE SOME PEOPLE
SEEING THEIR TAXES GO UP BECAUSE
OF THE ELIMINATION OF
DEDUCTIONS.
DO YOU WORRY THOSE PEOPLE WHO
PAY THE MOST TAX WAS SINGING A
LOT, I'VE GOT A POLE IN MY
SPENDING IN 2018 BECAUSE OF THIS
AND CONSUMERS THAT IT REPRESENTS
ALONG HAS BEEN TO CUT RATES
ACROSS THE BOARD.
IT COULD POSSIBLY BE AN
ACHIEVEMENT OF THAT IN THE FINAL
PACKAGE.
TO DO THAT YOU HAVE TO BROADEN
THE BASE.
YOU HAVE TO GET RID OF A LOT OF
DEDUCTIONS.
THESE DEDUCTIONS TEND TO BENEFIT
VERY FEW PEOPLE WE TALK ABOUT
THE STATE AND LOCAL TAX
DEDUCTION WE UNDERSTAND THAT
THIS SENSITIVE MATTER.
SANDBOXES.
YOU'VE GOT TO LOOK AT THE BEACH.
WE ARE MUCH BETTER SERVED
LOWERING RATES ACROSS THE BOARD
FOR ALL AMERICANS IN THE VAST
MAJORITY WILL REALIZE
SIGNIFICANT TAX CUTS COME THE
MIDDLE INCOME FAMILIES LIKE
DAGEN: TONY, AND COWL.
DON'T CURRENTLY TAKE THEM.
HALF THE COUNTRY PAYS NO FEDERAL
INCOME TAX.
WE ARE HEARING FROM MIKE LEE WHO
SAYS IN A TOWN HALL, TALLEST ON
TOWNHALL AND THE CHILD TAX
CREDIT WANTED THIS VERY GENEROUS
INCREASE IN THE CHILD CARE TAX
CREDIT.
A SIGNIFICANT PORTION WE DON'T
KNOW HOW MUCH WILL BE REFUNDABLE
MIKE LEE IS STILL TALKING ABOUT
MAKING THAT CHILD CREDIT
REFUNDABLE FOR EVEN PAYROLL
TAXES THAT GO TO THAT POINT
BECAUSE THAT'S SOMETHING
INDIVIDUAL BENEFIT TO THE
SCRATCHER FOR ME.
>> WILL COME I GOT TO TELL YOU
THE EXTENSION OF THE CHILD TAX
CREDIT IS A VERY ESSENTIAL PART
OF THIS TAX BILL.
WE WANT TO ENSURE THE
HARD-WORKING AMERICAN FAMILIES,
PARTICULARLY THOSE WITH BOTH
FOCUS ON THE BROAD VIEW.
WE HAVE CREATED A PRO-GROWTH TAX
PLAN THAT WILL GROW OUR ECONOMY
WHAT WE DO BY ACCOMPLISHING THAT
IS EXPAND ECONOMIC OPPORTUNITY
SO MORE PEOPLE HAVE A CHANCE TO
SUCCEED AND PARTICIPATE IN THE
ECONOMY AND THAT IS EXACTLY WHY
YOU HAVE TO LOOK AT THE BROAD
VIEW, NOT THE INDIVIDUAL ASPECTS
OF THE PLAN.
TRADE TO THIS FAMILY TAX CREDIT
IS ALSO CREATING WINNERS AND
LOSERS.
WHAT ABOUT THE FAMILIES VERY
WELL-OFF?
THEY ARE ALSO GETTING THE TAX
CREDIT?
>> THERE IS OBVIOUSLY TAX TWO
INCOMES RECEIVED.
THEY WILL ULTIMATELY BE
NEGOTIATED THE BILL.
THERE'S ALSO CREDITS FOR THOSE
WHO TAKE CARE OF ADULT
DEPENDENTS.
THERE ARE THINGS IN THIS BUILD
THAT ENSURE HARD-WORKING
DELIVER ESSENTIAL MIDDLE-CLASS
TAX CUTS.
WE ARE GOING TO HAVE PASSED
THEIR BUSINESSES, WHICH ARE
SMALL, MEDIUM-SIZED BUSINESSES,
OWNER OPERATORS AT HISTORIC
RATES.
THE CORPORATE RATE FROM 35 TO
POTENTIALLY 20, 21 IS NOW THE
NUMBER BEING DISCUSSED AT
OUR BELIEF IS THAT IS A DRAMATIC
INCREASE THE INVESTMENT OF THESE
DOLLARS CURRENTLY PARKED
OVERSEAS IN THE TRILLIONS INTO
THE UNITED STATES.
TRAINED TO WAIT ANOTHER PROBLEM
THE INDIVIDUAL SIDE IS SO
DIFFICULT FOR THESE GUYS TO
IT'S INCREDIBLE.
>> IT IS A FALSEHOOD TO COLLECT
TAX REFORM IF YOU KEEP THE
ALTERNATIVE MINIMUM TAX FOR FOR
INDIVIDUALS IS THE PARALLEL TAX
SYSTEM AND THAT IS NOT REFORM IF
THAT STAYS IN PLACE.
RAISED ON THE PEOPLE I TALKED TO
LAST NIGHT, THE INDIVIDUAL AMT
STILL IN THERE.
FIRST IN THE FIRST OUT FOR
RETAIL INVESTORS ONLY STILL IN
THERE.
AND THE TREASURY DEPARTMENT WILL
HAVE TO TAKE A YEAR TO WRITE THE
RULES TO DECIDE WHO DOESN'T
QUALIFY FOR THE NEW PASTOR RATE.
MARIA: AND THEN THERE IS CARRIED
INTEREST.
>> TONY AT HIS MIKE BAKER.
I'M SURE YOU WANT TO TALK ABOUT
THE STATE AND LOCAL TAX ISSUE,
TOO.
IT'S BEEN PAINTED THAT WAY AS
WELL.
IS IT OFF THE TABLE, NOT GOING
TO BE DISCUSSED, NOT MAKING ITS
WAY BACK AND WERE STILL UP FOR
GRABS?
>> AS YOU'VE BEEN SAYING, THE
HOUSE HAD A SOLUTION FOR
SOFTWARE AND ALLEGED TO BRING UP
$10,000 ON YOUR PROPERTY TAXES.
A CURRENT SOLUTION ALLOWS YOU TO
TAKE A 10,000 APPLIED INSTEAD TO
YOUR INCOME TAXES.
BECAUSE YOUR STATE GOVERNMENT
ARE MAKING YOU PAY HIGH TAXES.
NOT THAT THE FEDERAL GOVERNMENT
DOESN'T GIVE YOU A DEDUCTION.
THE BOTTOM LINE, IT IS THE
LARGEST, MOST AGGRESSIVE
DEDUCTION THAT TENDS TO BENEFIT
VERY FEW HIGH INCOME, HIGH
EARNING TAXPAYERS AND IN ORDER
THE ENTIRE SYSTEM AND MAKE SURE
WE LOWER RATE, YOU HAVE TO GET
DEDUCTIONS.
TRAIN TO THE JURY IS OUT THAT
THE HIGH EARNERS THAT THE HIGH
EARNERS, THOSE BUSY TAXES GO UP