wins, he can continue to blame mitch mcconnell and say, give me another four years. i believe that. what you re talking about is if they jam through legislation not in a bipartisan way where they ve failed so far, if that happens, yeah, that is a huge disaster for them. that s why some of us who believe you have to do tax reform, but the right way, you can t just load it up with a state tax deduction and killing certain states like mine, that to me is not a good solution or throw people off health care who need it? not a good solution. the question is when is he actually ready to do something and govern rather than pick somebody each day to blame. it s never a good day to hurt the nj. the so-called capital of isis, syria, raqqa are pushing isis out.
on whether they re farms or small businesses. on the other hand as i said this week, obviously the estate tax when we talk about no cuts for the rich, we re talking about the income tax system. the estate tax system is just fundamentally unfair, people pay about 50% taxes every year and then they pay another 50% taxes when they die but this will be one of the issues we continue to discuss with congress. maria: so it s double taxation basically? secretary: it s beyond double taxation. maria: yeah, so in terms of the pushback, secretary mnuchin, is that really what you re seeing state and local tax deduction, the property tax deduction, and potentially the estate tax deduction or is there other disagreements in terms of this overall package? secretary: maria the good news is we have a consensus with the leadership in the house and the senate. as you know we ve been working on these issues all year. these are difficult issues. tax reform hasn t been done in
california, new york many fighting to keep these tax breaks. the wall street journal reports that house republicans are working to keep part of the deduction how? by possibly cutting off the deduction at certain income levels. it s really interesting how immediately that state tax deduction became a flash point in this debate, and privately some of the tax negotiators have been saying, look, there s not really a constituency for people who live in these high earning, high income states complaining they want to keep their tax deduction. but there s a concern it pushes on the middle class. three weeks after a deadly hurricane slammed puerto rico,
that s hard because you hurt the home triindustry, which housing is coming back. when you limit that state tax deduction, the president s limiting it on people in new york, illinois and california where you have high taxes. those are his base states. so neil: not anymore. he s not running. they re the democratic party and he has an election in 2014 though he s not a candidate. neil: let me get a sense from you about what we re talking about here. the fear was remember when they they did put a cap on the mortgage deduction. if your mortgage was over 1 million-dollar. right. and everyone was the death to the industry. it wasn t and we moved on. but let s say we would be fooled again, that it wouldn t be that bad. when during the when putting the platform together for the republican party i was on the committee and there was a push to not include mention of