it before democrat doug jones is seated. the plan will low eer the corporate tax rate dramatically to 21% from 35%. it also lowers the top rate for individuals so 37% from 39.6%. translation, big break for the wealthy. still, president trump today insisted the plan will give the average american family a massive tax break. fulfilling a major campaign promise. we re just days away, i hope, i hope, you know what that means, right? from keeping that promise and delivering a truly aasia amazing victory for american families. we want to give you a giant tax cut for christmas. and when i say giant, i mean giant. now former senior economic adviser to the trump campaign, steven moore, an informal adviser to the white house now on tax policy. and former labor secretary under
molester but i understand the positivity there. we need to be careful where we send our leadership and to make sure we don t have nancy pelosi in a place where she shouldn t be and people like a tim ryan, i think jones will be great for the party going forward. send them places and we just need to be careful. sandra: the gop senate majority narrowing to one seat. things changed the other night. absolutely. look, you never want to lose a seat clearly with a 51 majority. it will make things more difficult. we ve seen vice president mike pence have to come in and be the tiebreaking vote on a couple of different pieces of legislation. obamacare didn t get done because republicans weren t able to get it done with the 52-seat majority. that makes things more difficult. i think that also puts on expedited movement on trying to get tax reform done in congress before doug jones is seated. it will be interesting to see where the senator-elect is on
it s a pretty exciting package. bret: you are saying distracts with what you are saying. it tracks with what we are seeing. it s pretty exciting deal for the american people. tax relief, makes us more competitive, brings jobs home. bret: where are the concerns? any concerns that susan collins, rand paul, are there any? we feel we are in good shape with those members, and with the scented body. what we did with the house and senate bills that already passed is they took care of our priorities. semper fi the tax code, target whittle income families, each bill did that. the reconciliation process. we think it s a win-win. scioto new here chuck schumer same should wait until doug jones is seated. alabama just had this special election. what do you say? the american people need this now. there s no need for us to wait. we hope when doug schoen s
doing so could create $10 billion in needed revenue over years. they proeps tax cuts that add $1.5 trillion to the deficit with no guarantee it ll add jobs or wages. if passed several payroll provisions begin january 1. higher taxes on bonuses and commission and many tax-free benefits become taxable. meaning you could pay more. in fact employers have been imploring the white house and the republican congress to keep this in mind how quickly they re going, how hard it ll be for them to make some of these changes so quickly. they are going to have to light speed this thing through before doug jones is seated. this morning minnesota expected to name a new lieutenant governor. tina smith as the minnesota s next u.s. senator. sources say she plans to run for the seat in a spels election
because once doug jones is seated, republicans still have the majority, but it s only 51 vote. that makes any one republican very important, because they could make demands that have to be met. it means that the democrats are in a far better bargaining position. that s why the republican senators have every incentive to try to make their deal, make peace with their house republican counterparts and get this bill through, because sooner or later, doug jones is going to be seated. now, the secretary of state of alabama said it won t you know, will take a few weeks. so even in even if things go well, it gives the republicans a few weeks to get their will done. there seems to be no political reason for them to delay, unless we hear from schumer, unless he has some arrow in his quiver we don t know about. guys, stand by. let s go to this big hearing on the hill. rod rosenstein, the deputy