but republicans argue that lowering the business tax rate will inspire companies to innovate more, hire more and pay more. plus, they dismiss the democratic line that this is a gift to the rich. congressman darrell issa says the wealthy are actually shouldering a bigger burden in high-tax states like california, new york and new jersey. this is a good bill for business. there s some good things in it to help get business investment. but if you re an executive in a company or somebody who s being asked to make investments and you re paying 53% blended in california, this isn t helping you much, and you re right, the investment class of people are going to find this as a problem. reporter: keep your eye on those pay stubs starting in february. that s when secretary mnuchin says middle class families will start seeing more money in their paychecks thanks to this bill. arthel: thank you, caroline shively. eric: another big story we re following, that is the trump transition team. have
developed world. because one thing that i see that this bill can do, i don t like everything in this bill, but i will tell you that dropping the corporate rate and having our companies where we have a code now that s encouraging us to have our companies have money overseas and bring that home, i think that will have a positive impact on the economy. so we have to see whether this bill actually has the economic growth that republicans think it will. but i have no doubt that we had to deal with that business tax rate because it s not been good in terms of keeping jobs here and investment here. do you think that the process that republicans are using to push this through is one that you consider to be valid? i mean, democrats have complained that there s writing scrawled in the margins of the bill, that they only got a couple hours to take a look at it. do you think was handled the right way? it s a little hard to hear democrats talk about the process after what happened with the obam
remain temporary in order to only require 50 votes to pass the bill. they re saying that the american people should trust lawmakers, that they re going to eventually make these cuts permanent long term. should the american people trust lawmakers to make those cuts permanent for those who need it most? first of all, the american people should never trust lawmakers. they should trust themselves. so why make this assertion, don t worry, we ll make the tax cut for the lower eventually. there are a series of tax cuts that have to be permanent if you want to change behavior. the business tax rate, you can t tell a business please build a factory going to be around for 50 years and we think we have got a tax cut for you for five years. that doesn t happen. i want to specify for individual taxpayers. that s why some are permanent. some are not. they will all be permanent and the republicans made it clear as
tonight, a major republican celebration. the house passing the gop tax plan. the president happy tonight after saying the massive corporate tax cut will give you, american families, a $4,000 raise. my counsel of economic advisers estimates this change, a long with a lower business tax rate would give the typical american household around a $4,000 pay raise. $4,000 is a lot of money and a specific number, at the core of trump s sell of the tax plan. the person who gave him that number is kevin, the chair of the white house economic advisers. he is out front tonight. i appreciate your time. i want to talk about the $4,000
at the crux of the bill what s offered right now those things will be taken away from middle class americans so we can lower the business tax rate. it doesn t make any sense. republicans are supposed to be the party of fiscal spending. it blows a hole in the deficit. we have choices on what we want to spend on. we can make healthcare more affordable and make it so people can send their kids to college. these are choices. republicans are making poor choices. bill: it does strike it some is redistribution. i don t know how it works out in the end. by a different definition that s what it appears to be for many. the president said this just last hour. i m proud of the representatives dush dush republicans in the house and senate for working hard on cutting taxes and reform. we re getting close. how about ending the unfair and highly unpopular individual mandate on obamacare and reducing taxes further? cut top rate to 35% with all the rest going to middle income cuts. i believe that to