Cuts we will see even more revenue next year. Probably a little too soon to tell. This much is not. The raging political debate is now a year later year from now how the tax cuts will be seen by the american public. The political issue and hot political issue at that. Im delighted to say just a couple of minutes away from talking to the men who orchestrated this in the United States senate. Im talking, of course, the Senate Majority leader Mitch Mcconnell. Im looking forward to chatting with him. This home been home to huge financial events an opportunity for us to say how this all went down today on tax day where we had the irs having some problems getting returns filed on time. In fact, they had to reboot their system to put up with that demand today. I understand, mike emanuel, here at the capital in record numbers. Michael . Good afternoon to you, welcome back to capitol hill. House Speaker Paul Ryan today celebrated the fact that next tax day a year from now, taxpayers will have an easier time filing their returns and will be able to keep more of their money. Instead of a system riddled with loopholes. Tax from everyone income level. Bigger child tax credit. Nearly a double standard deduction. You get to keep more of what you earn in the first place. Such good news coming. There were protests today there are those in the tax march movement who argue that tax reform should have been about closing loopholes for the wealthy and also for major corporations. Today they also had some prominent democrats joining them to make that point. Its a scam. And why is it a scam . Look at this. They put forth a tax bill that gives 83 of the benefits to the top 1 . Republicans are selling tax reform, hoping it helps them in the midterm elections in november. Democrats are knocking it, trying to take away a major g. O. P. Legislative accomplishment. Neil . Neil all right, mike, thank you very, very much. You just heard nancy pelosi there that it is a scam. Corey booker echoing a theme that nancy pelosi used some weeks back telling a new jersey audience that it is indeed crumbs for the average person. I have a feeling Mitch Mcconnell might slightly disagree with that he joins me now as my special guest. Thank you. 80 to 90 of the American People get tax relief out of this bill. Not a single democrat voted for it. As you pointed out in your introductory observations. They want to take this to the American People. And were happy to do that to see whether the American People think its a good idea for us to let them keep more of their hardearned money rather than sending it to us to be spent on whatever we choose to spend it on. I think it really kind of sums up the major differences between the parties these days, neil. I got a letter from all but three of them before we passed the tax bill saying what kind of tax reform they would be willing to support. And it was all about class envy and wealth transfer. It had nothing to do with actually getting the economy growing. And in the end, of course, even the three who didnt sign the letter didnt vote for it. So its a clear line of demarcation. Neil calling it a scam. Promised if democrats took over they would do everything they can to gut, this start over again. Something she argues, others have argued would be fair. Do you feel that you everything you and your republican colleagues put together could be just undone if she and democrats take over . Well, not as long as President Trump is in the white house. But there is no question they didnt like this proposal and that they would undo it if they could. They have already come out for repealing most of it. So i think were going to have a referendum this fall, neil, on whether or not people think theyre better able to make decisions about their own hard earned money as opposed to washington politicians redistributing. Neil had you kind of reminded republican colleague that if they cant make that pitch and sell tax relief to the American People they should find another line of work. I dont think its a hard sell at all. Neil apparently it is, right . Its still not polling well. Its better than it did initially but under half of americans polled still think its a mistake. Were having this discussion with the American People. In the end, i think particularly on the senate side and states like montana and north dakota, missouri, indiana, west virginia, where we have competitive races, i think its a pretty good argument to make that, you know, we allowed you to keep more of your hard earned money than sending it to washington. Neil all right. Now the battle back and forth. Wall street companies have been loving it. Reporting strong earnings as a result of this, senator. Do you get a feeling though that that is getting missed . That something is getting missed or that this has turned into class warfare. That it did tilt disproportionately to corporations or you were income . How do you counter that especially when your candidates go to the polls . Well, on the Corporate Tax relief, democrats are in the obama years were for that so was president obama. It was only when the president changed that all of a sudden they didnt support lowering corporate rates. The reason during the obama era, that the president obama was for that, is the same reason were still for it, which is to create more jobs and opportunity, make our corporations competitive in the world economy. We now have a competitive tax rate. We can compete with other countries. That means more jobs, more opportunity for measures. And i americans. More jobs coming to this country rather than being set up some place else. Neil nevertheless, had you expressed some concern about the president s tough trade tact vs. The chinese particularly on tariffs. Do you think that jeopardize dyes the gains you had from the tax cuts. I am concerned about tariffs. We all know the chinese have been stealing our intellectual property for years. And whatever we can do to turn that around is a good idea. Neil maybe the approach he is taking is working . But, we have got a lot of agriculture exports. Much of it goes to china. Many of them from farm states have voted overwhelmingly for the president. Whatever were going to do on trade, i would like to see it wrapped up by late summer so we can get back on message on tax reform. Neil you talk about tax reform and everything thats going on, sir. It seems to be i dont know if battle is too strong a term but difference of opinion from house colleagues to senate colleagues. Paul ryan had said not too long ago im proud of the house consistently passing these bills. The senate didnt, so there is more to do. But i do feel like it did a lot to advance the cause. Now, of course, you have more parliamentary mechanisms and problems as a result. The president said you have got to end the filibuster. So that its a simple majority vote on a host of things. In fact, have you got to do it fast because you never know how long that majority will last. You resisted. Still . That wouldnt solve any of these problems. Everything that we passed last year we did on a party line basis and we did it with a simple majority. So whether it was confirming neil gorsuch or lowering taxes or repealing regulations, every one of those things we did with a simple majority. The senate has a lot more responsibility than the house. There are 1200 executive branch appointments that come to the senate for confirmation. A lot of our time is used confirming nominees, to the scc, to the mlrb, to the food and drug administration. To the supreme court, to the circuit courts. It takes longer to do things in the senate because we have vast personnel responsibility that our colleagues in the house simply do not have. Neil when you put you up on a bulls eye and you are the reason stuff doesnt get done and even a few months back when the president was zinging you. Did that hurt . I remind everybody of neil gorsuch and the fact that we confirmed 12 circuit judges last year. U. S. Circuit judges. Thats a record for the first year of any president since the Circuit Systems were created in 1891. Movement that in terms of having a longterm impact on the future of the country. Young, conservative principle judges be on this court for a lifetime. Did you remind the president when you two had that little disagreement publicly naming you and criticizing that you did get the gulch thing . We havent had any disputes in quite a while and i have enjoyed this period. Neil when you say quite a while, what is that . Months. Yeah. Neil you know, Speaker Paul Ryan is leaving. He is not running for reelection. Another congressman today indicating that he is it stepping down congressman dent in pennsylvania. That marks 40 now republicans who are leaving. What is going on . Are they getting out of dodge or blue wave or what. Im the majority leader of the senate. Lets concentrate on holding the senate. We have 26 democratic seats up in this election this fall. Only republicans. We think we have a Good Opportunity to hold this majority maybe even expand it. So im going to worry about and concentrate on what can i have an impact on that is holding the senate. With a full four years. If we still have the senate we can still confirm judges and put his appointments in place. Losing the senate would mean to run it indicate a large portion of the Trump Administration for the last two years. I didnt think American People want to do that. The president is on the ballot. Even if his name is not on the ballot. Do you think this midterm will be about donald trump . It may be. We would like to make the election about that in montana, north dakota. Missouri, indiana, and west virginia. There is no question the democrats would even concede this that the president will be an asset. Neil you say an asset. As you know the bob Mueller Investigation and now the president s attorney, you know, rifled through, his home rifled through and, of course, it just spins out of control. The president is frustrated with it. There is a move afoot among some of your colleagues just to make sure the president doesnt get rid of mueller, to institutionally shield mueller from being fired. How do you feel about that . Thats not necessary. There is no indication that mueller is going to be fired. I dont think the president is going to do that. And just as a practical matter, even if we passed it, why would he sign it . Neil so you dont think its a good idea and you dont think its something that the president would entertain or should entertain . Well, i dont think he should fire mueller. And i dont think he is going to. This is a piece of legislation thats not necessary in my judgment. Neil obviously no none of your colleagues enough. Im the one who decides what we take to the floor. Thats my responsibility as the majority leader and will not be having this on the floor of the senate. Neil would you being shocked if he did fire him . Yes. I dont think he should and i dont think he will. Neil part of the genesis for this argument as you know, senator, is that it has gone out of control, this investigation. No one knows what started out presumably to be about russian collusion has now extended to the president and his lawyers, business ties going back years. Do you think the president has a legitimate beef to say this is out of control . Look, what im trying to deal, neil, is to concentrate on what we can do here in the senate. The Senate Intelligence committee is engaged in investigation about potential russian collusion in the election. That is their sole responsibility. The Justice Department has a whole different line of inquiry that were not involved in. And so im going to concentrate here in the senate and have my colleagues voting on things that are relevant to moving the ball toward the goal line on every single issue that we think we can pass and put on the president s desk between now and november. Neil are you surprised Jeff Sessions is still on the job . No. I think Jeff Sessions is doing a good job. And i think he should stay right where he is. Neil would you do you think he stays in that job with all the abuse he gets . Well, thats the president s decision. He works for the president. Neil would you take that day in and day out if the president were knocking you and saying you are this or that . Look, im glad Jeff Sessions is where he is. I served with him for 20 years in the senate. I think he is doing a good job as attorney general and im glad the president is keeping him right where he is switching to syria, senator. I remember your colleagues as well. Reminder on the republican and democratic side. Have you got to be a little careful here. You cant willynilly go and bring us into foreign conflicts without any end game or Consulting Congress do you think the president was justified taking the action did he in syria, first off . I did. And eerily similar to what president obama did and what President Trump did a year ago. Message is if you are going to use chemical weapons in the 21st century against your own people or against anyone for that matter, the rest of the world needs to send you a message. And this was done very cleanly with our allies, the british and the french. If he were to do so again, senator, not getting rid of the chemical weapons or whatever, it would be justified again, this measure by senator tim kaine, bob corker to reign that in or check with congress would be overreach. Thats a different issue whether or not we pass an authorization for the use of military force. My own view is the administration clearly has the authority to do what they have been doing, not only these kind of strikes but we have personnel in syria. We did when president obama was there. My own view is the existing authorization for the use of military force i believe thats the view of the administration as well amuf. Authorization for use of military force. We have see it whether they report something out and we will take a look at it. Neil president is looking at 1. 3 trilliondollar spending measure. Wants to rescind a lot of that spending. Are you okay with it . He agreed with it. He was involved in the negotiation. And sign the bill. Neil but he warned im never going to do this again . We had an agreement with the democrats. Neil came out. Cant make an agreement one month and say okay, we really didnt mean it and come back the next month and say we didnt mean our agreement. Was his shock legitimate . He may have been. His people were involved in the negotiation. He agreed to it and he signed the bill. Do you follow the stock market as much as the president . Do you like what you are seeing . No, i dont. Neil do you think its a mistake when he quotes it loot. I mean, can he follow whatever he chooses to. I think he is doing a good job on a whole lot of things to the American People. Keeping his on judgment, regulations, the American People are vastly better off than they would have been had Hillary Clinton been elected president of the United States. Neil and you are looking at these tax cuts one year into this on tax day. That more americans are going to see it and appreciate it by the time they get to the polls in november, enough to protect majorities in the senate . It look as little more likely end i and in the house . Yeah, i think its an asset for us going into the fall election, clear asset. Neil all right. Senator mcconnell, thank you very, very much. Thank you, neil. Neil his n. A room where history was made very quiet right now. Thank you very much. We will talk to senator mark warner on this. On a day washington is sinking in on the reality that revenues are not the problem there are plenty of them coming. In 3. 4 trillion in tax money coming. In thats from you, thats from companies with the promise of more to come. The problem, of course, is that congress does spend that money and then some. How to stop that, reverse that after this. Weve been preparing for this day. Over the years, paul and i have met regularly with our ameriprise advisor. We plan for everything from retirement to college savings. Giving us the ability to add on for an important member of our family. Welcome home mom. With the right financial advisor, life can be brilliant. [ engine revving ] [ engine revving ] when you drop a 603horsepower v8 biturbo engine into one of mercedesbenzs finest luxury sedans, what do you get . You get out of the way. 0to60 in 3. 3 seconds. The mercedesamg e63 s sedan. All right. The president meeting right now with the japanese Prime Minister abe. Of course, one of the issues thats come up the japanese, of course they have a lot at stake with north korea right now, that he is open to the japanese working with the south koreans to iron out, you know, an agreement that might even get a piece of between the south koreans and North Koreans have been remaining in this perpetual state of war. Some thoughts on all of this from senator mark warner, democrat of virginia on these and other developments. Senator, thank you for joining us. Neil, its great to see you. Neil first off on what the president is sending, the signal he is sending, the north and the south keep talking. Im looking forward to eventually sitting down with kim jong un. Are you optimistic here . I am a bit nervous because a meeting, meetings are always good. A summit, but a summit without a strategy, and my fear was prior to Prime Minister abes visit was that the japanese were somewhat caught off guard as was the whole congress was caught off guard when it appeared that President Trump said he would go ahead and sit down with kim jong un without a set of preconditions. Obviously different than. Democratic. There to brief the president at that point. Were a little bit taken aback. Those were press reports. There was a pathway. Korean peninsula. I m all for that but my fear is that this president zigs and zags without a lot of predictability. And a meeting. Neil that predictab