Hi, elon. The disappointment today in washington over health care but trump said he is still determined to move forward over tax reform. Probably going now for tax reform which we could have done earlier but this would have worked out better if we could have had some democrat support. Remember this. We had no democrat support. So now were going for tax reform which ive always liked. You heard the same message from House Speaker paul ryan during his press conference. Also, kevin brady released a statement saying he is not discourage asked moving full speed ahead on tax reform. The problem is that health care and tax reform are connected. Ryan and brady have both plench that had tax reform will be revenue neutral. Take a look the a these numbers under current law, the Budget Office estimates the government will bring in 41 trillion over the next decade. But repealing obamacare would have reduced revenues by a billion dollars. So he didnt to have raise new taxes to make up the difference.
Message from House Speaker paul ryan during his press conference. Also ways and means kevin brady said he is not discouraged and is moving, quote, full speed ahead on tax reform but the problem here is that health care and tax reform are connected by the complicated math of the federal budget. Ryan and brady have both pledged that tax reform will be revenue neutral. That means it will not change how much money is flowing into feder federal coiffuers. Theyll bring in 31 trillion over the next decade. Repealing obamacare would have reduced numbers. You dont have to raise new taxes to make up the difference. That was basically a freebie. To keep it revenue neutral theyll have to offset any tax cuts with tax increases somewhere else. Its much easier to do that if you have a goal of 40 trillion instead of 41 trillion. Nobody likes to be a piggy bank. Ylan, thank you. In d. C. Mike, do you think that tax reform is going to be that much harder . What does that do to the markets . Certainly on
Numbers under current law the Budget Office estimates the government will bring in 41 trillion over the next decade but repealing obama care would have reduced numbers. You dont have to raise new taxes to make up the difference. That was basically a freebie. Now thats a very different conversation than tax reform. To keep it revenue neutral theyll have to offset any tax cuts with tax increases somewhere else. Its much easier to do that if you are trying to hit a goal of 40 trillion instead of 41 trillion. Nobody likes to be a piggy bank. Ylan, thank you. In d. C. Mike, do you think that tax reform is going to be that much harder . What does that do to the view of the markets . Certainly on the individual tax side i think it makes it a little bit harder. From the Corporate Tax side i think theres a great deal that can be done. Its important to remember looking at that 40 trillion figure, youre looking at about 3 trillion in Corporate Income taxes over the next decade. We get 300 billion
The country. Another litmus test for proand antitrump candidates, the reports coming in fast and furious. Welcome to fox news at night. Donald trump telling sean hannity his tough rhetoric on kim jong un paved the way for the singapore summit. Also shitting the on joint military exercise with have a factor and take it to it henry live in singapore, good evening and good morning to you. Good morning. Despite all of the naysayers the president came, saw and got a deal despite critics trying to talk down the possibility of american success before, during and after these talks, the president going on offense talking to sean hannity trying to sell the deal telling him kim jong un is going to start denuclearization virtually immediately with a document they signed just hours ago. The president says this will save millions of lives. We had a good feel from the beginning and were able to get something important done and some things happened after it was signed, getting rid of certain missile t