An f.b.i. Counterintelligence agent was removed this summer from Special Counsel Robert Muller's team investigating Russian election meddling after the discovery of an exchange of anti Trump text messages c.b.s. News Senior Legal Analyst Andrew Cohen this is precisely the sort of story the president's supporters in and out of office will cite as proof in their view that the f.b.i. Probe is a partisan and biased on the other hand Special Counsel Robert Mueller acted immediately here when he discovered the problem the swift removal apparently reflects a desire to insulate the investigators from any claims of political bias or favoritism it's controversial but the Senate has passed a nearly want to have trillion dollar Republican tax bill that's historic in scope and an urgent political priority for President Trump in the g.o.p. C.b.s. News correspondent Errol Barnett not all Americans will see equal financial gains the corporate tax cut from 35 to 20 percent is permanent that individuals and families would get a temporary tax cut it's estimated a family of 4 owning $75000.00 annually would initially get a tax break averaging $2200.00 but only until 2025 it now has to be reconciled with a House bill Former President Obama has taken a swipe at his successor over the issue of climate change or his speech in Paris Mr Obama says he regrets what he calls a temporary absence of American leadership on climate change but says local officials have stepped up we are absolutely on target to meet our goals because of the actions that are taking place at the local and state levels and because businesses recognize that this is good business sense to invest in clean energy he did not mention President Trump by name in his speech the Metropolitan Opera says it's looking into reports that its legendary music director James Lavonne is accused of molesting a teenage boy in the 1980 s. The New York Post says the opera companies general manager was informed of the allegations last year this is c.b.s. News. What it. Will be partly cloudy over Denver this Saturday night with light winds will see low temperatures near 351 more a nice day for Sunday with sunshine highs near 65 a big change on the way for Monday with a slight chance for rain and snow showers developing in the afternoon highs only near 40 overnight lows Monday night around 20 weather brought to you by Colorado flat fee realty pay less keep more Colorado flat the Realty dot com I'm meteorologist Patrice Sutter on 710 k. And us. And humiliation this Monday afternoon one to 4 we'll have George. Studio bringing the latest news and rumors and how about a politics that will talk about the fallout from the Clinton guilty plea and we're investigation goes. On the tax reform plan and now a weekday afternoons from one of the 4 corners for you. To. 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Financial creates retirement plans to help make your retirement everything you've dreamed of not just 20 to 30 years of unemployment your personal retirement plan will help you to sail through stock market corrections on crashes with confidence you need a plan for when the paycheck stop for your free social security analysis and personal retirement review call while the Smith a 3 o 3 planner or visit rich gate Financial dot com 3 or 3 planner 3 or 37526637 which gate financial talk this is Larry Kudlow News Talk 710 k. And us something we not believe in the greatness of America how can we not do what is right and needed to preserve this last destroyer with manners from Wall Street to Main Street we believe free market capitalism is the best path to prosperity the Larry Kudlow show where money meets politics a former associate director with President Reagan's Office of Management and Budget he says he can't be seen so stay right now on the right. Call 1800 vote. It's very kind of hello everybody I'm Larry Kudlow Welcome back this is a Larry Kudlow show as always great pleasure to be with you lots and lots to talk about as we usually do this was a particularly interesting as and Porton week I guess I'm back to am 2 am last night. Senate finally voted for the tax cuts believe the count was $5150.00 Republicans lost only one vote that was Senator Corker of Tennessee who cares he's retiring anyway when the want to see so blah Blah blah blah but they got 51 votes that's it it's going to go over to the house for going to have a conference and I tell you this. Waiting for Senator Roy Blunt a key member. Kay member of the Republican Senate leadership is going to tell us some of the ventures from last evening and where we're going to go from here into conference and one of the most contentious issues that he thinks to face biologist hey this make it real simple we're going to get a tax cut bill we're going to get a tax cut bill before Christmas and we're going to get a tax cut bill with glitches and all that actually has an extremely strong pro growth incentive oriented business side which going to account for about 85 or 90 percent of the growth and will create an investment boom in the USA we have had any real investment since the year 2000 we had any were productivity we haven't had any worries near higher real wages the business side of this bill 20 percent corporate tax less than 30 percent small business passed Rose repatriation and made it expensing for new and Quitman Cap Ex right there that's all I care about it's what we developed in the trunk campaign in the summer of 2016 . Directly attacked the lack of investment and will bring American money back home it will bring foreign money here we will have an investment boom and here's my point this investment boom well help every single working America of whom there's about 155 some odd 1000000 Everybody wins everybody wins I don't like targeted tax credits we could done a lot better on the invalid's individual side cut marginal tax rates but the reality is the business side is what matters it's always what mattered Oh it was the basis of President Trump then candidate Trump we're not going to get 2 percent growth we're going to get 3 percent or 4 percent or 5 percent the title of my column which is out last night and this morning I vote for it and you should do this tax plan will spark an investment boom that will benefit every single working American and will create new job opportunities for non working Americans and will create more productivity and therefore with the workforce getting more capital for better technology job training learning everyone will benefit all right so that's my very quick opening because I'm going to cede the rest of my time. To a great friend and Senate Leader Senator Roy Blunt of Missouri Mr Blunt as a member of the Republican leadership he had me in for a breakfast couple 3 weeks ago maybe we snag devoted to who knows but Senator Blunt 1st and last say yes or no you're up so about 2 o'clock in the morning maybe later now congratulations Ok congratulations you did what nobody believed you could do a month or 2 ago congrats or well you were helpful when you came by and and the opportunity to talk with a number of Republican senators about growth potential in the country and how. We don't want to get into a view where we think the Obama economy is the new American economy I think this this tax bill is relatively easy now the conference with the house and has unbelievable potential to come right behind the regulatory efforts the president and the Congress has played a greater sense that the courts are going to decide cases based on what the law says and now this incredibly international competitive environment that we're moving into I'd like it's very exciting and your advice and your enthusiasm for what we could do was very helpful I think and putting that last few votes together and helping Republican senators know what the real impact of this could be Larry well I mean I get I get maybe a small check mark you all did a heavy lesson but I was very pleased to see the miles friend good friend Senator Susan Collins of Maine voted for we got her. Well exactly. I think I think all Republican senators wanted to get there on I think it's unfortunate for the Democrats that should have voted for this that they decided this was going to be such a partisan messaging issues and they really couldn't join us in talking about what can happen to the country and about to happen in the country and you know Senator Collins was one of the last people to announce what she was going to do but that the one of the 2 the vice president was in the building but not necessary to get this job done last night and I'm sure he was pleased that he didn't have to be the deciding vote he would have been more than happy to be but to see Republican senators doing this and doing this almost unanimously and having the votes we needed very important but what's way more 'd important is what this can mean to our economy you know there are 2 ways to increase take home pay and $1.00 is to take less money out of the paycheck for working families which is going to start happening in January and 2 is to have a better paycheck to start with and I think we're going to see that happen quicker than people would imagine just because of the important moment we're in and the United States once again will become without I think any question the number one place to invest capital in the world. Or sandblast I think doesn't exactly the key points just a couple of questions on that. If this thing is done before Christmas which it looks like it will be done before Christmas which is terrific Is there any retroactive provision will just start January 1st 2018. Well the current bill starts January 1st 2018 and I think that's probably what needs to happen now but what really needs to happen as we need to get this done this year we don't need to drag this into next year we haven't seen the final product yet but the House and Senate bill are very close together making tax reform the international competitive tax reform permanent the territorial system a rate that now puts us back in the middle of the countries we compete with just where Larry you'll remember that's where we were in 1986 with 35 percent was in the middle of the pack and you know it may not have been a bad number in 1986 become a really bad number by 2017 yes or and yes it looks like we're going to be able to do that in a way where it's permanent and move forward seeing people bring profits home with every incentive to bring profits of been stranded overseas back to the United States we've never had a stimulus package that has the potential that this has to bring back your estimate would be better than mine but somewhere certainly in the neighborhood of a trillion dollars and maybe several dollars beyond that coming back into our economy to be used in a way that will make sense for the people who have money and are ready to invest and spend it in the 1st year to center blunt I'm estimating not last than $3.00 trillion dollars of repatriated cash we've got $700.00 American companies registered domicile that are full of that value and we've made it picked up some from the Cayman Islands and fact I think the Joint Tax Committee has sown badly asked the maid of all these international laws. You know sort of but they don't have neither the c b o nor the Joint Tax Committee nor really the Tax Foundation and they don't have any good modeling of international capital flows they don't have any good modeling on how great this is going to be I mean I think right there you're going to make 40450000000000 and revenues that are not being scored or right there and I think that's a huge thing you're selling it right you sound like an economist I could save it better and you just have a couple of those things here my friend Senator Ron Johnson I'm sure is a friend of yours I know he was you know fighting to the end for his own interest but I must say a 23 percent deduction for the subchapter s. Passed through as a Satcher really gets the small businesses effectively below 30 percent I just think that I know it came towards the end I know is a bit difficult to do but I think that's a big plus or small business going to play a major role in this investment boom that I'm predicting. Well you know Missouri where I live 97 percent of the business is that that small business criteria that's where the most job growth always is and will continue to be and I think trying to figure out how we keep everybody as close as competitive as we can with the what the American companies are competing with as well as the world wide companies are competing with a fairly hard balance to hit but I think Senator Johnson Center James and the Chairman Hatch working with them. Found that balance we'll see as we implement this who got left out of who is who is in that competition with the person next door that isn't competing in the same fairway but I'm pleased with the 23 percent the the small businesses the past 3 businesses that we're concerned with the initial Senate and House bill I think are feeling pretty good this morning looking at what's ahead of them as they try to compete and by the way a lot of our exports are those very same small businesses there are major export others as well as Major people who compete in this domestic marketplace some pretty big in that pass through world and some not so big but all benefit from this new ability to put more money right back into their business center right you're talking to on the path through. That's me exactly that's me exactly and I think in the last 24 hours I made a buck. There is nothing wrong with having profit and I think what our friends on the other side of the aisle of the Joint Tax Committee and the Congressional Budget Office really don't understand is the dynamic impact of people making money and investing that money back in the economy if we get into anything close to the growth an average of $4.00 decades since World War 2 or even the growth average of the entire 20th century. We're going to have lots of competition for the workforce. People who are seeing their wages stagnant for the last 8 or 9 years are going to begin to see employers much more interested in attracting them and keeping them and that's the kind of American economy we want if we could punishing and vestment Mr Blunt then you're going to get stronger business investment higher productivity and higher real wages and if you go back to the year Roy if you go back to 2000 that's the peak and business equipment investment product to Vittie and real worker wages have barely I mean barely increased and this whole really increases right now I mean this whole business side of the tax cut is directly directly. At the wage earners and the productivity we're going to give more capital per worker and that to business investment story Fred Smith as you know the c.e.o. Famous c.e.o. Of Fed Ex has always said quit punishing invest with this bill we have quit punishing investment and that's why I believe sir we're gone back to 3 to 4 percent growth and there are some glitches in this bill there's stuff that I may not like or others may not like but the reality is the big picture and investment boom is going to create 3 or 4 percent growth you know it's Or you're going to see revenues coming in that will more than pay for this package over the next 10 years I'm here to guarantee you I'm confident I'm confident that's right and the way to increase federal revenue is not increase taxes it's increased incomes that people are making and increased the number of people who are paying taxes I think this is what will happen here what I'm what I mean you're right in saying that there's more capital on the sidelines than any time in American history and there's more u.s. Capital ready to come back into the country than any time in American history than any time in history by far I mean I'm going to tell you we've been through these numbers and this and that and this and that and as I say these CVO Joint Tax things do not they have they have no real component in their model for international capital flows but you know what Sir I think the bidding on this is going to start a 3 trillion dollars And so if I apply an average rate of 10 percent I just got to $300000000000.00 but I think it's going to be more than that and I think it's going to be in the 1st year or 2 serve the Joint Tax Committee doesn't get it they haven't scored it let me ask you I don't want to hold you I know you're all tired we're so grateful you're come on today is there any chance in the conference that the corporate tax cut down 20 percent might be moved up to 2018. I don't know I don't know but that was the one thing I do know is that all of the incentives to invest that are in the bill start in 2018 and interesting Ali you really create even a greater incentive to go ahead and get that money on the on the table get that money working right away because you're. Spending that money against a 35 percent rate the 1st year rather than the 20 percent rate that comes in the next year what's really the most important thing I think here is making that corporate rate permanent doesn't mean no future Congress could change it but it does mean a house a Senate and a present United States all have to agree to change it as opposed to any one of them that doesn't want to change what it does want to continue it could let it fall back to the days numbers if it was a normal 10 year window so that whatever it takes to stretch that into Year 11 in a way that allows the rules to make it permanent I think should be our number one priority on corporate taxes even beyond the specific rate so 20 is a great number and I think that we're going to say center right plan having this certainty Emma certainly matters your right to be was what times you got bad last night Sir tell us the truth. Sir. 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