AND WITH FIGHTS OVER DISASTER RELIEF, THEY COULD BE HEADING
TOWARDS A SHUTDOWN IF THEY DONT
FIND A RESOLUTION.
>> KRISTEN WELKER, THANK YOU. >>> WERE JOINED BY THE HOUSE.
>>> WERE JOINED BY THE HOUSE SPEAKER, PAUL RYAN.
GOOD MORNING TO YOU.
>> GOOD MORNING, SAVANNAH.
>> YOU LOOKED ALMOST GIDDY WHEN
YOU BANGED THAT GAVEL AND VOTED
ON TAX REFORM.
YOU WORKED ON IT FOR A LONG
TIME.
THE BIGGEST TAX CUT HERE, THE RATE IS GOING TO CORPORATIONS.
THEIR TAX RATE GOES FROM 35% TO
21%.
21%.
AS I UNDERSTAND THE ARGUMENT OF
YOUR COLLEAGUES, YOURE COUNTING
ON CORPORATIONS TO TAKE THAT MONEY AND PUT IT BACK INTO THE
ECONOMY, HIRE PEOPLE AND RAISE
WAGES.
WAGES.
IT WASNT WORK IF THEY DONT DO THAT.SNT WORK IF THEY DONT DO
THAT.
IS THAT CORRECT?
>> THE STUDIES SHOW US THATS WHAT DOES HAPPEN.OW US THATS
WHAT DOES HAPPEN. BUT FIRST OF ALL, SAVANNAH,
DONT FORGET THAT WE TAX
AMERICAN CAPTIONORPORATIONS AT T
HIGHEST RATE IN THE WORLD.
AS A RESULT OF THAT, WERE
LOSING JOBS.
WERE LOSING JOBS OVERSEAS. AND AMERICAN BUSINESSES ARE
BECOMING FOREIGN COMPANIES.
THEY CALL THEM INVERSIONS.
WERE SEEING A RASH OF COMPANIES
RELOCATE OVERSEAS.
RELOCATE OVERSEAS.
>> THIS IS WHAT YOURE TRYING TO FIX THAT.S WHAT YOURE TRYING TO
FIX THAT.
THE RATE GOES DOWN, AND THE IDEA IS THAT THE CORPORATIONS WILLDEA
IS THAT THE CORPORATIONS WILL SPEND THE MONEY ON WORKERS AND
JOBS.
JOBS.
CORRECT? >> WE SAY THAT THE CORPORATIONS,
NOT ONLY ARE WE GOING TO LET YOU
BRING YOUR MONEY BACK FROM
OVERSEAS, WERE GOING TO TAX YOU
WITH A RATE THATS ON PAR.
BUT WERE GOING TO GIVE AN
INCENTIVE OF INVESTING IN
AMERICAN JOBS.
AMERICAN JOBS. YOU CAN WRITE OFF INVESTMENTS BY
HIRING MORE PEOPLE WHEN YOU
PURCHASE BLUENEW PLANTS AND
EQUIPMENT.
EQUIPMENT.
WORKERS BENEFIT, WAGES GO UP, MORE JOBS OCCUR. WAGES GO UP,
MORE JOBS OCCUR. WE NEED TO PUT THE AMERICAN
ECONOMY IN A BETTER COMPETITIVE
POSITION TO COMPETE AND GET
FASTER ECONOMIC GROWTH.
THIS IS A TAX CUT FOR FAMILIES,
AS WELL.
AS WELL.
>> IT IS.
AND LET ME JUMP INTO THIS. THE BIGGEST TAX CUT IS FOR
CORPORATIONS.
CORPORATIONS.
CEOs HAVE SAID, CANDIDLY.
IM LOOKING AT A LIST OF CEOs WHO SAY THEY DONT PLAN TOEOs
WHO SAY THEY DONT PLAN TO REINVEST.
REINVEST.
THEY DO STOCK BUYBACKS TO LINE THE POCKETS OF SHAREHOLDERS.NE
THE POCKETS OF SHAREHOLDERS. LET ME QUOTE MICHAEL BLOOMBERG.
HE SAID, CEOs ARENT WAITING ON
A TAX CUT TO JUMP-START THE
ECONOMY, A FAVORITE PHRASE OF
POLITICIANS WHO HAVE NEVER RUN A
COMPANY.
COMPANY. ITS PURE FANTASY TO THINK THAT
THE TAX BILL WILL LEAD TO HIGHER
WAGES AND GROWTH.
ILL ASK YOU PLAINLY, ARE YOU
LIVING IN A FANTASY WORLD?
>> I WOULD COMPARE THAT ANECDOTE
TO SURVEYS OF THE BUSINESSES,
THE NATIONAL BUSINESS
MANUFACTURERS THAT SHOW THE
MAJORITY OF BUSINESSES WILL DO
WHAT WE SAY, REINVEST IN THE
WORKERS.
WORKERS.
REINVEST IN THE FACTORIES, PAY
PEOPLE MORE MONEY, HIGHER WAGES.
>> LET ME PIN YOU DOWN ON THAT.
>> WORKERS BENEFIT ON THIS
THROUGH HIGHER WAGES.
ITS NOT A QUESTION OF IF OOP IT
ITS A QUESTION OF WHEN.
>> I WANT TO DRILL DOWN ON THIS
POINT.
"THE WALL STREET JOURNAL"
RECENTLY HAD A CONFERENCE OF
CEOs.
AND GARY COHN, THE WHITE HOUSE ADVISER, ASKED ARE YOU GOING TO
REINVEST THIS MONEY IF TAX
REFORM PASSES?
REFORM PASSES? LET ME SHOW YOU WHAT HAPPENED.
>> IF THE TAX REFORM BILL GOES
THROUGH, DO YOU PLAN TO INCREASE
INVESTMENT?
INVESTMENT?
YOUR COMPANIES INVESTMENT, JUST
A SHOW OF HANDS IF THE TAX REFORM GOES THROUGH?HE TAX
REFORM GOES THROUGH? >> WHY ARENT THE OTHER HANDS
UP?
UP? >> GARY COHN SAYING, WHY ARENT
THE HANDS UP.
CORPORATIONS ARE SITTING ON A
TON OF CASH.
WHY ARENT THEY RAISING WAGES
AND CREATING JOBS NOW?
>> ABOUT $3 TRILLION OF THAT
CASH IS TRAPPED OVERSEAS AND
CANNOT COME BACK INTO OUR
ECONOMY TO BE REINVESTED BECAUSE
OF OUR TAX LAWS.
YOU REMOVE THESE BARRIERS TO
INVESTMENT IN OUR ECONOMY.
YOU GIVE BUSINESSES AN INCENTIVE
TO INVEST IN AMERICA, IN THEIR
FACTORIES.
FACTORIES.
AND THATS WHAT WE DO. SO, LOOK. WHAT WE DO.
SO, LOOK. SAVANNAH, THE TAX RATE BEFORE
THIS BILL PASSES IS 35%.
THATS THE HIGHEST IN THE
INDUSTRIALIZED WORLD.
INDUSTRIALIZED WORLD. THE REST OF OUR COMPETERS TAX
THEIR COMPANIES AT 22.5%.
IRELAND IS $20.5%.
WHEN WE TAX BUSINESSES AT HIGHER
TAX RATES THAN OUR FOREIGN
COMPETITORS ARE TAXING THEIRS,
WERE LOSING AND THEYRE
GAINING.
GAINING.
WHATS MORE IMPORTANT IS
AMERICAN BUSINESSES ARE MOVING OVERSEAS.BUSINESSES ARE MOVING
OVERSEAS.
THEYRE NOT EVEN AMERICAN COMPANIES ANYMORE.ERICAN
COMPANIES ANYMORE. THIS IS A TREND THAT HAS TO BE
REVERSED.
REVERSED.
AND WE KNOW THAT IF WE FIX THESE
TAX LAWS, WE WILL GET REINVESTMENT BACK IN THIS
ECONOMY.
ECONOMY.
THE ANECDOTES -- I WILL TELL YOU EVERY STUDY UNDER THE SUN SHOWSU
EVERY STUDY UNDER THE SUN SHOWS US, YOU LOWER THE TAX RATES, YOU
WILL SEE GROWTH IN AMERICA.
>> A LOT OF PEOPLE WILL BE
COUNTING ON THAT AND HOPING FOR
THAT OUTCOME.
THAT OUTCOME. YOU HAVE A LONG TIME BUDGET
HAWK.
HAWK.
I REMEMBER YOU IN 2012, DOING
CAMPAIGN EVENTS IN FRONT OF THAT DEFICIT CLOCK.S IN FRONT OF THAT
DEFICIT CLOCK.
AND ITS ESTIMATED THIS TAX CUT IS GOING TO COST $1.46 TRILLION
MORE TO THE DEFICIT.
I KNOW THE THEORY IS, IF YOU
HAVE MORE TAX GROWTH, YOU GET
MORE REVENUES INTO THE COFFER
AND THAT REDUCES THE DEFICIT.
LET ME PUT A FINE POINT ON IT.
ARE YOU SAYING THAT THE GROWTH
YOURE GOING TO GET FROM THE TAX
CUT WILL EQUAL THE AMOUNT IT
WOULD COST ON THE DEFICIT SIDE
SO ITS A WASH?
SO YOURE NOT ADDING TO THE
DEFICIT AT ALL BECAUSE OF THIS?
>> NOBODY KNOWS THE ANSWER TO
THAT QUESTION.
THAT QUESTION.
THATS IN THE FUTURE.
WHAT WE DO KNOW IS THIS WILL
INCREASE ECONOMIC GROWTH.
LET ME SAY IT THIS WAY, SAVANNAH SAVANNAH.Y IT THIS WAY, SAVANNAH
SAVANNAH.
PEOPLE ARE LIVING PAYCHECK-TO-PAYCHECK IN THIS
COUNTRY.
COUNTRY.
ANOTHER GROUP OF THIS COUNTRY ARE ONE CHECK AWAY FROM LIVING
PAYCHECK-TO-PAYCHECK.
PAYCHECK-TO-PAYCHECK.
WE HAVENT HAD A THREE-STEP GROWTH IN THE ECONOMY SINCE
2008.
2008.
THAT MEANS STAGNANT WAGES, FLAT
LIVING STANDARDS.
YOU HAVE TO GET ECONOMIC GROWTH SO PEOPLE CAN GET AHEAD INROWTH
SO PEOPLE CAN GET AHEAD IN AMERICA.
AMERICA.
THATS WHAT WERE DOING.
THE AVERAGE TAX CUT FOR THE MEDIAN FAMILY OF FOUR WILL BE
$2,059.
$2,059.
$2,000 IF YOURE LIVING
PAYCHECK-TO-PAYCHECK, IS A TAX
CUT HERE.
WERE TRYING TO GIVE RELIEF TO
AMERICANS.
DOUBLING THE CHILD TAX CREDIT. LOWERING RATES ACROSS THE BOARD.
WERE MAKING IT SO SIMPLE THAT
ALMOST NINE OUT OF TEN TAXPAYERS
CAN DO THEIR TAXES ON A REFORMFO
LIKE A POSTCARD.
WE NEED ECONOMIC GROWTH.
WE NEED PEOPLE WHO ARE LIVING ON
THE MARGIN, LIVING
PAYCHECK-TO-PAYCHECK.
PAYCHECK-TO-PAYCHECK. YOU POINT THIS OUT, IN ADDITION
TO GETTING THE ECONOMY GROWING
FASTER AND GETTING PEOPLE IN
HIGHER PAYING JOBS, WE HAVE TO
CONTROL OUR SPENDING.
WE HAVE MORE WORK TO DO.
WE HAVE TO GO AFTER SPENDING
CONTROL.
CONTROL.
BUT YOU ALSO HAVE TO HAVE
ECONOMIC GROWTH.
THOSE ARE THE TWIN THINGS THAT
GET THE DEBT DOWN.
GROW THE ECONOMY, CUT SPENDING.
THIS WILL GROW THE ECONOMY AND
WE HAVE TO GET BACK TO CUTTING SPENDING.O GET BACK TO CUTTING
SPENDING.
>> IM ALMOST OUT OF TIME.
I WANT TO ASK YOU ABOUT SEXUAL HARASSMENT THIS HAS BEEN A TIME
OF RECKENING IN MY ECONOMY.
IN YOUR LINE OF WORK, IN
CONGRESS.
CONGRESS.
YOU HAVE ACCEPTED, ASKED FOR THE RESIGNATION OR RETIREMENTS OFTHE
RESIGNATION OR RETIREMENTS OF COLLEAGUES, DEMOCRAT AND
REPUBLICAN WHO HAVE BEEN ACCUSED
OF SEXUAL MISCONDUCT.
MY QUESTION TO YOU IS ABOUT THE PRESIDENT.N TO YOU IS ABOUT THE
PRESIDENT.
PRESIDENT TRUMP HAS BEEN
ACCUSED, AS WELL.
THREE ACCUSERS ASKED FOR A
CONGRESSIONAL INVESTIGATION.
THEY WANT YOU, THEY WANT
CONGRESS TO LOOK INTO WHETHER
THE ACCUSATIONS AGAINST THE
PRESIDENT ARE TRUE.
WOULD YOU SUPPORT SUCH AN
INVESTIGATION?
>> AS YOU KNOW, THE PERSON IN
CHARGE OF THAT COMMITTEE, TREY
GAUDY, HAS GIVEN AN ARTICULATE RESPONSE.S GIVEN AN ARTICULATE
RESPONSE.
THOSE ARE CRIMINAL MATTERS.
I WOULD INVITE YOU -- >> WE DO ETHICS INVESTIGATIONS.
>> I WOULD INVITE YOU TO TALK TO
THE WHITE HOUSE.
LET ME GET AT THE OTHER ISSUE YOURE TALKING ABOUT.HER ISSUE
YOURE TALKING ABOUT. YOU KNOW THIS VERY CLEARLY
BECAUSE IT HAPPENED IN YOUR
INDUSTRY, IN YOUR STUDIO.
ITS HAPPENED HERE IN CONGRESS.
LETS TAKE THIS MOMENT FOR AS
SERIOUSLY AS IT IS, AND NOT MAKE
IT A PARTISAN THING.
WHAT IM TRYING TO DO THIS WITH
DEMOCRATS, WE NEED TO MAKE SURE
THIS MOMENT IS THE CULTURAL
CHANGING MOMENT IT NEEDS TO BE.
AND THAT MEANS, NOT ONLY DO WE
HAVE TO CHANGE OUR LAWS, NOT
ONLY DO WE CHANGE THE WAY
DISCLOSURE AND TRANSPARENCY
WORKS.
WORKS.
NOT ONLY DO WE CHANGE THE WAY THE LAWS WORK GOING FORWARD, BUT
WE NEED TO CHANGE THE CULTURE.
LETS NOT MAKE IT A PARTISAN
FOOD FIGHT.
FOOD FIGHT. LETS SEE THIS ISSUE AND GIVE
THE ISSUE THE RESPECT IT
DESERVES SO WE CAN CHANGE THE
CULTURE SO WERE NOT HAVING THIS
STORY A YEAR FROM NOW.
AND THATS WHY WERE TAKING THIS
SERIOUSLY.
SERIOUSLY.
WERE GOING MANDATORY TRAINING. WERE GOING TO BRING OUT REFORMS
AT THE END OF THIS WEEK TO SHOW
HOW CONGRESS GETS AHEAD OF THIS
PROBLEM.
PROBLEM.
VICTIMS WILL KNOW WHERE THEYRE
GOING TO GO.
AND THE LAWS AND TRANSPARENCY ARE WHERE THEY OUGHT TO BE.CY
ARE WHERE THEY OUGHT TO BE. >> IT SHOULD NOT BE A PARTISAN
ISSUE.
ISSUE.
THE WHITE HOUSE POSITION ON THE PRESIDENTS ACCUSERS IS THEY ARE
ALL LIARS.
ALL LIARS. IS THAT YOUR POSITION AS WELL?
>> I DONT KNOW WHAT ALL OF THE
ACCUSATIONS ARE.
ACCUSATIONS ARE.
IM FOCUSED ON FIXING CONGRESS.
IM FOCUSED ON MY JOB, WHERE I WORK, MAKING THIS INSTITUTION
SAFE.
SAFE.
I WANT MY DAUGHTER TO BE ABLE TO GROW UP IN AN ECONOMY TO GO INTO
A WORK, PUBLIC OR PRIVATE
SECTOR, WHERE HES NOT BEING
HARASSED, WHERE SHES BEING
EMBAUERED.
EMBAUERED.
IM NOT FOCUSED ON OTHER STUFF.
>> IS THE GOVERNMENT GOING TO
STAY OPEN?
>> YES.