perspective, and that in my view we live in an innovation economy. that innovation driving lots of change. it also means that there s disruption. so for me, the question is, yes. how do companies compete? but how does the individual worker also stay competitive? where do they get the skill set they need to make sure that they have a job? what are we doing about making the affordability of education or an apprentice job? how do we factor that in to the equation? and the housing problem. housing has become so unaffordable, and has been less and less of our economy in the last, it s been falling from 15% of gdp to 12% of gdp. what will we do to fix the basic middle class problem. what happened is, the administration decided, okay. we re going to come up with this plan and even though we had a few meetings with them, where they came to meet with finance committee members, they kind of
address that problem, maybe. some republicans are worried this bill could blow up the deficit. non-partisan group of scorekeepers in congress put out a report saying, in fact, just that. it would raise the deficit by at least $1 trillion. there s a different side deal in the works to address that. two, more duct tape, which could mean parts of this bill gets clawed back, maybe. the tax cuts for businesses, permanent. but tax cuts for individuals, they aren t. and that could create a fiscal cliff a few years down the road or multiple fiscal cliffs down the road under the maybe column again. needless to say, this got complicated. they were supposed to simplify it s. arguably, it s less simple and continue to change. we know the final version of this plan will be a massive transformational change to american life, because get this. everything from where you live to how you pay for college or even health care to how much money you make, who benefits?
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the president says it won t be wealthy people like himself. this is going to cost me a fortune, this thing. believe me. believe this is not good for me. me, it s not i have some very wealthy friends. not so happy with me, but that s okay. you know, i keep hearing schumer, this is for the wealthy, well if it is, my friends don t know about it. i ve got an extensive fact check on that issue later in the show. but on all honesty, despite what the president is attempting to claim, no matter how you slice this, the gop tax plan is a big boom for the wealthy, specifically the trump family. slashing estate tax, slashing alternative minimum tax primarily impacts most wealthy households or slashing rates on so-called entities like the trump organization, all provisions that are either in the senate plan, house plan or both. by contrast, the poorest folks in the country will be worse off according to an analysis from
week, friday would be the expectation for that. but that s not the end of it, erin, because there is some big differences between the senate bill and between the house plan. the state and local tax deduction, the estate tax, the number of tax brackets. so much to be hammered out so that s still something that could hang this up. thank you so much, brianna. the president went to capitol hill today to meet with senate republicans about the tax plan. later raving about how well the meeting went. here s how he put it. we had a good day today. we had a phenomenal meeting with the republican senators. we had it was very special, that meeting. in many respects, i wish you could have been inside that room. it was very, very special. the camaraderie, somewhat of a love fest. outfront now, republican senator john kennedy of louisiana. he s a member of the senate budget committee, and you were there, sir. i see you smiling. it was special, it was very, very special. it was somewhat of