Affected by this in negative ways here. Its an open question here. Next november by that Midterm Election time this will be seen as a good thing. Or a mistake tonight. By the way, i dont think there is any debate about whether or not the president will be better off from this texas plan. He will be. He will make money. As a businessman for sure. All right. Jeff at the white house. Thanks. Sure. As we said, the bill had a speed bump late today in the senate. Fill mattingly joins with us that and what the change is. Even though this is essentially a done deal were looking at democrat bob casey on the floor tonight. Taking it to the mat late in the evening. They know the writing is on the wall. You can talk to the democrats and this is the same in the house and senate. There is no stopping this. Unlike the Health Care Effort both from the grass roots side and lawmakers side to pull republicans from the rest of the conference to oppose it didnt work out. They are unified and they are set to pass this. Democrats continuing attacks about the merits of the bill and now somewhat personal attacks. Listen to what senator brown had to say a short while ago. So this tax cut follow it simply. This tax cut raises cause as hutch deficit to give money to the wealthiest in the country. Creates a huge hole in the budget. Who is filling that hole . Not the lobbyist walking out of senator mcconnells office theyre not paying for it. And john, i can tell you senator mcconnells office didnt appreciate that. One of his top advisers shortly out after the comments. Deer senator brown parental decor up escapes you. The republicans are confident. But the frustration from democrats about the parts. Process how it played out certainly laid barron the isnt that right floor. What happens next procedurally speaking. The senate will pass the bill in a couple of hours likely around 11 30 p. M. Gep its a foregone conclusion in terms of where they are on votes. But as jeff noted procedural issues popped up because of the budget rules republicans are using to pass by simple majority. There will be specific provisions none that attack the core of the bill. But small provisions stripped out because the house passed a different version. That means the senate will send the bill back to the house. The house passes the bill again tomorrow morning. Again at this point, its just add ago couple of hours to where Everybody Knows this i going to end up. But for republicans celebrating tonight they have a couple more hours to wait. Fill up at the senate. We want to bring in the money and power panel. Weal let you guys decide whose money and whose power. Kirstin im starting with you. This is the first major piece of legislation the president gets pass. Its a win. They will celebrate. But how long will this celebration last given the unpopularity of this bill as we sit here tonight . Well i think the republicans would say its unpopular because the democrats have demagogued the bill and when people get the paychecks and they have more money theyll be happy with it. But the reality is you know whether your ideological or not there is a lot to be concerned about in this bill. While there will be tax cuts for pretty much everybody in the early days of this you know the only ones that are permanent are the ones for people more well off. Over the longterm i think that people are going to sort of see whats really in the bill. Theyre going to see a disruption in the Health Care Market because the individual mandate is repealed. And i think that people can see that whats going on here which is that you know this is a deficitbusting bill paid for pretty much by the middle class. And so i dont think over the long run they fair well. Maybe in the short run they can do okay. But i think over the longterm this is this is not going to be a great idea for them. You know, matt lewis, not only is the bill itself unpopular but the president is unpopular. Historically unpopular. Epically unpopular. 35 approval rating. In the short term do you think this gives him the opportunity to redirect the trajectory of his presidency. Absolutely in the short term he has points on the board, goes from a horrible year, especially if you talk about tweets and chaos, to having a pretty good year if you look at the metrics, the points he puts on the board. Was it contains who said in the long run were all dead. Donald trump needs popularity now. Republicans need success in midterms. Its not too soon to start thinking about the reelection. And look, anybody any time any Political Party has done anything worth doing certainly in this political environment thats highly partisan, its going to be unpopular. Its very difficult now it would take tremendous Political Leadership to do something of this magnitude. Look at the obamacare. Lee look at the effort of george w. Bush to fix Social Security security. If you want to use the Political Capital and implement your parties agenda they do believe that tax cuts will stimulate the economy. There is going to be a backlash. There is pushback to at a. Did it did george w. Bush and obamacare popularity. When have tax cuts have been unpopular. Paul ryan claimed today the reagan tax cut was unpopular. We have to look at that. But by and large they are wildly popular going through. Mark, to you we listened to republicans for years talking about how increasing deficits is a terrible thing. Debt is bad. Deficits are bad. Now the republicans push through this bill which adds anywhere between a trillion to 1. 5 trillion to the debt over years. What about all that talk . Is this republicans saying never mind. Those are the facts that are ignoring this is growing the economy skbloo how do you know that. Look at history if you look at history. You look at history that hasnt been the case. Go back to the reagan tax cuts eight of the next ten years government revenue was higher after the tax cuts than it was the years the taxes were cut. You had millions 15 million jobs per capita higher than. That was a spending problem. That was not a revenue problem. Its a money problem. We can control the spending if you keep republicans in control youll control the spending. But this is coming down to the fact that youre going to have americans getting more money in their paychecks in february. Theyre going to see it. Anywhere from 150 to a couple hundred bucks the average family of four starting in february theyre going to be able to pend that, put that toward education, take a vacation, whatever it is thoefl like they need to do for their family. The republicans can run on that. If the democrats say theyre raising taxes which is what theyre talking about theyre losing in 2018 and in the future. John. Go ahead, dill zbloon here is where this tax bill loses credibility and this is why i believe its so unpopular. There is an extremely sound argument to increase the available pool of money in the private sector whether wealthy families small which ises corporations. Understand, money moves down the path of least resistance. The path of least resistance is where the taxes are the lowest and the benefit to the person with the money is highest. If you want to have money flow into the economy you would create a tax benefit for the investment in new business formation, Capital Expenditures and equipment. Hiring. Absent a specific inincentive to invest in job, cap and business formation, the path of least resistance in the private secretarier is the bank of those getting the money. Stock buy backs and executive compensation. So where this loses credibility is youre saying i want to raise the taxes on the blue states by reducing the state and local income which reduces budgets for schools, budgets for infrastructure. Mark and i talked about that. Im raising the deficit. The reason im willing to tolerate the reduction in the budget for schools and infrastructure, increase the dechz is because there is so much private capital flowing into the economy its going to create jobs, invested in cap x. Invested in new business formation. However, that is not what the policy does. The policy instead enables the path of least resistance for the capital flowing into banks, stock buy backs and executive compensation. If you really wanted Something Interesting you would actually look at the marginal increase in the amount of private capital available because of the tax reduction and look at the percentage of capital distributed through buy backs executive comp and the Banking System as opposed to that invested in new business formation, cap x and job creation which is the basic conservative thesis i agree with. What we have for mork. Hang on mark hang on mark. What we have heard from ceo when polled he asked ceos to raise hands if you were doing anything other than reinvest wages in buy backs. And no one is saying this is going back into the economy in terms of wages. Because its missing the final piece which is the inincentive to reinvest the money. This includes inincentive to write off Capital Expenditures in the coming years. Closes and penalizes executive compensation and abuses of that. There are many factors which arent getting coverage but that encourage companies to put this into new equipment that raise wages, and thats why we are confident the council of economic advisers says just the corporate reform is going to increase wages about 4,000 in the coming years. On top of the tax cuts you get increased wages. Again that remains to be seen. That will have to be proven. Thats why its unpopular. People can buy the theory of private capital. They want to know the private capital is driven into hiring and cap x. One of the issues that came up was how this affects the president directly. The president said during the campaign and fall when he was selling this im a big looser this doesnt help me. Thats not the case is it . No. Its very clear to the people that are going to do well in this are people with a lot of pony. By all accounts he has a lot of money. I think he is going to do well. Look, the problem here is that the economy is doing well already. Companies already have are sitting on a lot of cash. The argument that we need to somehow do something for these companies so that they have cash doesnt make sense. And im just to be clear, i dont have a problem with that. I actually dont have a problem with lowering the correspondent tax rate. I dont have any ideological opposition. I do have a problem with blowing up the deficit in order to help people with cash get more. It doesnt make sense. And they made the tax cuts permanent for the wealthy people but guess whose arent permanent and expire. Its middle class. It looks like something thats been done. When youre a republican coming out in future years. And to put us in you know bad position in terms of the deficit, which we saw with reagan. You were talking about reagan. We know what happened. He left with a massive amounts of deficit. We beat the soviet union thats what happened. By tax cuts . Did tax cuts. The deficit went up. There were tax cuts during the Bush Administration and the deficit and debts went up. There were extraneous circumstances there. And we had a rezbleegs i want to leave this with you matt lewis. As a conservative and republican you support the idea of tax cuts in general and much of what is in this bill. However, is there a perception problem baked into the cake right now that 9 hup for the middle class if lucky enough to live in california, new york or maryland might change for voters going forward. Yeah, look, i think whats the old maxim first you win the argument and then you win the vote. Are republicans won the vote but not the argument. But once people start seeing personally theyll get extra money back, and once if the theory holds true the supply side theory holds true and the economy is stimulated and there is more growth then they win the argument. This is a great test. If republicans are wrong, if this theory of supplyside economics are wrong. It worked for kennedy and reagan. If it doesnt work they deserve to lose. Im worried about the deficit. Kirstin is right. Thats a legitimate concern. But the class warfare, worrying that some guy is getting a bigger tax cut than me thats overwrought. The media has spurred that along. If that was true you would say the president is going to save a lot of money. Of course. Thanks so much. Good discussion. I appreciate it. We follow the developments late into the night on the senate floor well speak with a top member of the House Intelligence Committee who is worried about the efforts to stymy the russia investigation. Later breaking news on the deadly Train Derailment where one key crew member was and wasnt. And Safety Equipment that could have been there but wasnt. Flo just like magic, progressive gives you options based on your budget. [ gasps, laughs ] you ever feel like. Cliche foil characters scheming against a top insurer for no reason . Nah. So, why dont we like flo . She has the name your price tool, and we want it. But why . Why dont we actually do any work . Why do you only own one suit . Its just the way it is, underdeveloped office character. Youre right. Thanks, bill. No, youre bill. Im tom. You know what . No one cares. I am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. Full throated push barker in the russia vegas. Attack on mueller and the fbi and rod rosenstein. And now ad the president s eldest son to that list. In west palm beach. The stiehl dossier and slamming what he thinks is a double standard where his father is concerned. Imagine what would happen if we rolled back the clock to 2008 and a conservative director of the fbi and high up people in the fiv leading all the investigations wrote an email about an insurance policy, the dossier, in the unlikely event that barack obama was elected president. What do you think would happen . Do you think the media would cover that . Yeah. Do you think it would be brushed under the rug like its nothing it doesnt mean anything . There would be revolution in the streets. So im flad that this is coming out now. Because it is good because real people have to see this. You know my father talked about a rigged system throughout the campaign and people said what are you talking about . But it is. And youre seeing it. There is and there are people at the highest levels of government that dont want to let america be america. People who dont want to let america be america. Joining us now congressman adam schiff the ranking democrat on the House Intelligence Committee. Congressman thanks for being with us. Whats your reaction to what donald trump jr. Just said. Well he apparently forgets the fact that in real time what happened last year was the director of the fbi talked about an investigation into hillary clinton, even ten days or less before an election but did not tell the country that there was also an investigation going on of the Trump Campaign over far more serious matters, whether individuals in the Trump Campaign had been orned as agents of a foreign power. In cut in Donald Trumps favor. And thats something that donald trump jr. Would rather ignore. He says there are people who dont want to let america be america. Suggesting there is some kind of conspiracy perhaps to undermine his fathers administration. Is there any conspiracy like that . No. But you have to realize this is i guess a trump family characteristic and that is to always view themselves as the victim of something, victim of a rigged system, victim of unfair fbi, victim of unfair press coverage. This seems to be a jetrait. But i think the fbi and department of justice have a lot of dedicated Public Servants whose work is being maliened because there is an effort to tear down the institutions to tear down what bob mueller may found, by discrediting in advance by casting doubt. In the meantime they do enormous damage to the democracy and undermine Public Confidence in the administration of justice. Trying to undermine Robert Muellers investigation. There are questions youve raised about trying to undermine whats going on in the House Intelligence Committee. You say youve made progress but you also say republican members opposed challenges. Explain that. There are a number of steps which republicans are making which dont make sense from a investigative point of view and departure from how we operated in the past. Theyve scheduled key interviews out of state including one tomorrow we we have another vote on the tax bill. And we have a vote potentially tomorrow to keep the government open. Why would he they be scheduling interviews out of state if they didnt want us to be present during the interviews . These are interviews with witnesses weve been asking them to bring in for months and theyve sat on. What is the head long rush to do it now if not to try to end the investigation . And thats my fear. We saw on display in committee. We see in our Intelligence Committee an effort to bring the congressional investigation to premature conclusion. That ought to concern all americans. Is this something the chairman of the committee or mike conway running the investigation, have either said to you that they are trying to shut it done soon. Well theyve been i think fairly vague when i ask which are we scheduling witnesses three a day when it took months for you to schedule some of the witnesses wove asked for a long time ago. Why dont we have the witnesses that youre scheduling out of state come before our committee after the holidays . Why are we not scheduling any interviews for the new year when there are dozens of interviews to be scheduled. I cant get an answer. That tells me that there may be marching orders from the top that they got to bring this to an end. We have seen steve bannon, the president and others amp up the heat on congress to shut us down. Now the republican senators have acknowledged the president weighed in with them to try to get them to shut down the investigation. The house members havent been willing to comment about whether they received similar pressure from the wlous. But they seem to be acting like that. Theyre act being like theyre being pressured from the white house. I want to play you something from james clapp