bill: here is fox news alert. live look at floor of the house. they are getting ready to vote on $2 trillion worth of legislation. chief congressional correspondent mike emanuel is counting all the pennies live up there on the hill. good morning to you. washup first in the house today? lay this out? reporter: bill, first up is a tax break package which is the house is due to vote on in procedural vote this hour. it would extend some two dozen or so tax breaks, make them permanent. it is a $650 billion package. it will also delay three obamacare related taxes cadillac, medical device tax and insurance sales tax. house speaker calls this an important deal. this is one of the biggest steps toward rewrite of our tax code that we ve made in many years. it will help us start a pro-growth bold tax reform agenda in 2016. reporter: bottom line the house will vote today on tax break package. tomorrow they vote on government funding package.
medicare change for seniors while the rich absolutely give up nothing. more so than that, actually. so you keep the bush tax cuts, make them permanent. then ryan adds $4.5 trillion more in tax cuts. he hasn t said how he ll pay for them. just told the budget office assume i ll pay for this. i ll clean the tax code, kill the home mortgage interest deduction and pay for all of this. if he doesn t do that, his budget is a huge deficit buster. one point to crystal who s correct, romney s plan is much vaguer. what he has offered is his overall targets. romney s plan is much more aggressive even than ryan s plan. ryan is cutting $3.5 trillion from the deficit from the budget over ten years. romney needs to cut $7 trillion. he s not keeping the medicare savings. now he needs to cut $8 trillion and increasing the defense budget. the kind of cuts would be 57% to every single program in the
standard & poor s has send a has sent a message. mr. cain, you say that we can boost job creation by eliminating tax on companies that bring back overseas profits to the u.s.. when we tried a tax break like this in 2004, companies just paid bigger dividends to shareholders. why would it work this time? for a number of reasons. i think you are looking at a small piece of it. it is a combination of things that i indicated. if you pick out one thing, that is not comprehensive. i talked about lowering the top corporate and personal tax rays to 25%. taking capital gains rates to zero. here s the big one, make them permanent. uncertainty is killing this company. if a company were to decide they were to pay a bigger dividend, so what, it is their money. the people receiving the dividends might be happy with that.
standard & poor s has send a has sent a message. mr. cain, you say that we can boost job creation by eliminating tax on companies that bring back overseas profits to the u.s.. when we tried a tax break like this in 2004, companies just paid bigger dividends to shareholders. why would it work this time? for a number of reasons. i think you are looking at a small piece of it. it is a combination of things that i indicated. if you pick out one thing, that is not comprehensive. i talked about lowering the top corporate and personal tax rays to 25%. taking capital gains rates to zero. here s the big one, make them permanent. uncertainty is killing this company. if a company were to decide they were to pay a bigger dividend, so what, it is their money. the people receiving the dividends might be happy with
standard & poor s has send a has sent a message. mr. cain, you say that we can boost job creation by eliminating tax on companies that bring back overseas profits to the u.s.. when we tried a tax break like this in 2004, companies just paid bigger dividends to shareholders. why would it work this time? for a number of reasons. i think you are looking at a small piece of it. it is a combination of things that i indicated. if you pick out one thing, that is not comprehensive. i talked about lowering the top corporate and personal tax rays to 25%. taking capital gains rates to zero. here s the big one, make them permanent. uncertainty is killing this company. if a company were to decide they were to pay a bigger dividend, so what, it is their money. the people receiving the dividends might be happy with