The latest on all this. Reporter hey, carl. If a few hours ago, it was the calm before the storm, it now feels like the storm is approaching with members of the house scurrying back and forth, a flurry of activity as people are taking meetings and going back and forth from the floor as we build up to that vote this afternoon. Of course, this comes in the wake of what you mentioned, that ultimatum coming from the white house delivered by budget director mick mulvaney, although this morning on squawk box, he did now say its up to republicans to reach a consensus among their own party. Heres what he said. As to whether or not negotiations are ceased, i think we made it very clear last night that if the republicans need to work amongst themselves on the hill in order to tweak the bill a little bit here or there, in order to get the necessary votes to pass, thats fine with the president , as long as it doesnt change the underlying bill, and i doubt that it would at this point. Reporter ther
Moving with the fluctuations related to the headlines about whether or not theyre going to vote. Do they have the votes . All the different scenarios and what they mean for your money. Dont move. Weve got a busy two hours of power lunch. Starting right now. Good afternoon, everybody, and welcome. Im Tyler Mathisen. Before that final, we think, house vote on capitol hill. Team of reporters are standing by. John harwood is standing by in our newsroom. Lets kick it off, though, with Kayla Tausche on capitol hill. Kayla . Reporter tyler, there have been some reports that say the report is in jeopardy. Politico say there are signs hours before the vote. Quoting some leadership saying they dont know which way the vote will go, despite the fact that they have been trying to whip members and calculate votes throughout the morning. At this moment the Vice President is huddling with members of the Freedom Caucus a short distance away from the capitol at the Capitol Hill Club holding an offcampus
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.
They will vote later. Investors are looking beyond obamacare, theyre looking to tax cut. Whichever way obamacare goes, they want to hear the tax cuts and the schedule stays in place. Thats the president s priority. Hes saying get on with it. Look at this. Investors like it, it was shaping up to be the worst week for stocks since the election, but we will open up this morning. This is it. No more negotiating. The vote is today. Varney company is about to begin. If you cant get phase one through, do you think phase two is going to happen or phase three is going to happen . Stuart. Stuart its you that thinks its bad policy. No, its not. Looking at things that Members Congress are looking at. I respectfully and strongly disagree with you. Stuart come to the point now ladies and gentlemen, and vote on it. It might not happen on stuart varneys timeline. Im becoming the most unpopular guy on the program. Everybody was ganging up with me because i said vote on it and get on with it. Now, Presi
Youve heard of this conundrum as we wait on this measure to see what they can do, but every concession the Freedom Caucus, for example, this conservative group of 3540 congressmen who almost to a man and woman were who almost to a man and woman are not big fans of this was whatever confession is made to that group, moderate republicans get kicked off and we deal with our kids. You let him stay up late, but not me and the tugofwar continues. Here is the thing, the reason the markets are watching closely, they reached a deflection point where they dont really care. They seem to buy the indication from the president , vote on this thing and be done with it. They move on to tax cuts. A slamdunk, they could automatically do that, the whole reconciliation process, dont want to get too lost in the weeds because it is really dull but suffice it to say the market seemed to think one way or another they will get tax cuts and one way or another going to be able to see that happen sooner rather th