without him, kevin brady with us now. chairman, good to have you. >> thanks for having me this morning. neil: good to have you on, i'm sure breathing a sigh of relief when you got word in the morning that the senate passed this by the hair on its chine ch chin. >> that's an important step, but it's not the final. we've got two strong bills between the house and senate and we can make it stronger so my goal is to pick the best of the best, ideas from the house and senate and some way, find that third way and work together starting next week. as you know, the house is coming back early on monday to move toward a conference committee so we can do the hard work to finalize these details this year. neil: by when? >> well, our goal is to get it done by christmas ap we're on that schedule. neil: okay, there are differences to your point, not as many as first thought to be the case, but one thing, the senate delays the corporate tax cuts until 2019. the house plan starts in 2018. how do you feel about that? >> that sooner, rather

neil: congressman, i talked to kevin brady the man who runs house ways and means committee when we were live this weekend. we got into the issue of deduction for state and local taxes which go under both senate and house plan. react to this. kevin brady. they say their constituents will get history and likely a no vote if that remains. what do you think? >> we're not done yet. we've been listening very closely to peter king, lee zeldin, but a lot of members from mimi walters and other high-taxed states we want to make sure taxpayers keep more what they earn regardless where they live. it is harder where the state and local governments brutalize these families and businesses with the high taxes. we're determinedç to try to provide the relief so stay posted. neil: what did he mean by that, stay posted? >> well i think we're still trying to fine tune some of this. the chairman is correct, and you have to ask this question, neil, is it the federal elected officials responsibility to

rep kevin brady/-r- texas: i'm very excited about this moment. republican leaders are one step closer to fulfilling a promise of passing tax breaks by christmas.rep kevin brady/- r- texas: americans deserve a new tax code for a new era of american prosperity.what it does - is give corporations a big break - by permanently cutting their tax rates from the current 35 percent - down to 21 percent.you - as an individual taxpayer - will see some benefits too - like a doubling of the standard deduction - though that's set to go away after 8 years.your personal income tax rate may also lower by one or two percent, depending on how much you make. if you have kids, that child tax credit doubles to two thousand dollars. if that credit is more than what you owe in taxes, you get to keep most of that extra money. that refund initially wasn't enough for florida senator marco rubio.sen. marco rubio / -r- florida: i remain surprised that there is not more consensus to support the reality that we need to do more to help working people in this countrybut an incre

we've got kevin brady. stay right there chris, here is kevin brady. >> good evening, everyone. so we have filed the bill, the report the tax cuts and jobs act in the house. this means that the text of this new tax reform bill will become public now and the american people will be able to assess the impact of a new tax code. my point is this. we deserve, americans deserve a new tax code for new era of american prosperity. that's exactly what the tax cuts and jobs about does. over the weekend and as we head to the vote, we'll also be able to finally, because the house and senate versions were different, families, small businesses, and frankly our local businesses that cop pete around the world will now have a bill to analyze and embrace and so i'm very excited about this moment. it has been 31 years in the making and took a lot of hard work by a lot of people to make this day happen. i'm proud of the tax cuts and jobs act. with that be glad to take some questions. >> reporter: when this started you were talking about four brackets filing on a postcard simplicity. it doesn't look

with that, the leader of the ways and means committee, kevin brady. [applause] rep. brady: thank you again for your leadership and bigger ryan -- speaker ryan's as well. this highlights for many of us are time in congress, maybe even our adult lives. one of the main reasons so many of us ran for congress was to do exactly this, improve america's broken tax code. we all want to make it simpler, flatter, rewarding hard work. that is exactly what we accomplished in this bill. this is an incredible day for the american people. we never would have gotten here but for the leadership of ryan, chairman hatch, and others, but i do want to take a moment and tell you as proud as i am of this bill, i am equally proud of the house house ways and means committee. they worked long evenings and holidays to deliver this tax reform plan. i would be remiss as well if i didn't thank our team led by david stewart and barbara -- our tax counsel who did remarkable work. [applause] >> i cannot wait to see what springs up as we deliver more jobs, and your paychecks are the american people. t

with that, the leader of the ways and means committee, kevin brady. [applause] thank you again for your leadership and bigger ryan -- speaker ryan's as well. uss highlights for many of are time in congress, maybe even our adult lives. one of the main reasons so many of us ran for congress was to do exactly this, improve america's code.an -- broken tax we all want to make it simpler, flatter, rewarding hard work. that is exactly what we accomplished in this bill. this is an incredible day for the american people. we never would have gotten here ryan,r the leadership of chairman hatch, and others, but i do want to take a moment and tell you as proud as i am of this bill, i am equally proud of the house house ways and means committee. they worked long evenings and holidays to deliver this tax reform plan. i would be remiss as well if i didn't thank our team led by david stewart and barbara -- our tax counsel who did remarkable work. [applause] >> i cannot wait to see what springs up as we deliver more jobs, and your paychecks are the american people. tha

kevin brady. [cheers and applause] president trump: kevin brady. so maybe what i'll do -- and by the way, i mentioned at&t but many companies have come forward saying they are happy and will be doing similar announcements. we are getting rid of all the knots and the ties. you are going to see and see what happens. and what does it mean? it means jobs, jobs, jobs. so it's going to be a very special period of time. we are in a very special period of time and going to be even more so. i thank everybody behind me. we'll go with mitch and paul and a few of the folks have a few words and have a little fun. mitch, how about you starting. [applause] mr. mitchell: let me just say, mr. president, you made the case for the tax bill, but this has been a year of extraordinary accomplishment for the trump administration. [applause] mr. mitchell: we have seen it right of generation in the supreme court. thanks to your nominees, we put 12 circuit court judges in place, the most since the circuit court system was established in 1891. you hold the record. you have e

kevin brady. kevin. [applause] kevin brady. so maybe what i will do is -- and by the way i mentioned at&t, but many companies have come forward and said they will do similar announcements. we will see something that is going to be very special. we are bringing the entrepreneur back to this country. we are getting rid of all the knots and ties. you are going to see what happens. ultimately it means jobs, jobs, jobs. it is going to be a very special period of time. it is going to be even more so. i want to thank everybody behind me. maybe i can start with mitch, then paul, then we will have a few folks come up and have a few words. then we will have a little bit of fun. mitch, how about you start? [applause] sen. mcconnell: well let me just say, mr. president, you made the case for the tax bill. this has been a year of -- ofvery accomplishment extraordinary accomplishment for the trump administration. [applause] sen. mcconnell: mr. president, thanks to your nominees, we have put 12 circuit court judges in place, the most since th

kevin brady. [cheers and applause] president trump: kevin brady. so maybe what i'll do -- and by the way, i mentioned at&t but many companies have come forward saying they are happy and will be doing similar announcements. we are bringing the entrepreneur back into this country. we are getting rid of all the knots and the ties. you are going to see and see what happens. and what does it mean? it means jobs, jobs, jobs. so it's going to be a very special period of time. we are in a very special period of time and going to be even more so. i want to thank everybody behind me. maybe i can start with mitch and paul and a few of the folks have a few words and have a little fun. mitch, how about you starting. [applause] senator mcconnell: let me just say, mr. president, you made the case for the tax bill, but this has been a year of extraordinary accomplishment for the trump administration. [applause] senator mcconnell: we have seen it in the supreme court right of center for a generation. thanks to your nominees, we put 12 circuit court judges in place,

the earnings tool from td ameritrade. >>> kevin brady, chairman of the house ways and means committee, speaking outside his office. let's listen >> we're also going to have tax relief for families in high tax states we made that commitment to our s.a.l.t. lawmakers we achieved that we now have a $10,000 deduction for s.a.l.t. taxes families can fill it up with the way they need for their families we have a lower top bracket. really a key ask by lawmakers in s.a.l.t. states. those help everybody in america as well. then we did achieve even more middle class tax relief. and so all that was done to drive tax relief for everyone, regardless of where they live. [ inaudible question ] absolutely not, that was continuing to lower the brackets, lower the rates. we want people to keep more of where they earn wherever they live we achieved that >> reporter: can you talk about the timeline, passing the house, senate what about senator corker, does that [ inaudible ] >> i always leave the timing in the vote to schedule for our leadership i do know we'll be returning monday, to begin the rules pro

representative kevin brady chaired the house ways and means committee is set to speak outside his office let's get to ylan mui with the release of the tax bill. yl ylan. >> reporter: the house is planning to vote on the tax bill as soon as tuesday that is what we are hearing with the senate voting after that the one number republicans are going to be highlighting is that a medium family making $73,000, their tax cut under their plan according to their analysis will be $2,059. republicans have been criticized for their tax plan as primarily benefitting the wealthy because of the fact it's helping the corporations versus the middle class. you hear them talking about that especially as they use this win as the crown jewel looking forward to 2018. >> the median income on that figure is 70 what,000? >> family of four with $73,000. >> the tax break will be $2,059 a year. >> that's right. >> so we know they're going to vote on tuesday. any fireworks expected there sailing through the senate and counting senators at that point? >> i think that's a real question mark there had to be the senate th

kevin brady. is --be what i will do and by the way i mentioned at&t, have comeompanies forward and said they will do similar announcements. we are bringing the entrepreneur back to this country. we are getting rid of all the knots and ties. you will see what happens. ultimately it means jobs, jobs, jobs. it is a very special. of time. it is going to be even more so. i want to thank everybody behind me. abi can start with mitch, then paul, then we will have a few folks come up and have a few words. mitch how about you start. [applause] well let me just say, mr. president you made the case for the tax bill. this has been a year of extraordinary compliment for the trump administration. [applause] mr. president, thanks to your nominees, we have put 12 circuit court judges in place, the most since the circuit court system was established in 1891. you hold the record. [applause] you have ended the overregulation of the american economy and that, coupled with what we did last night, and what the house fi

we'll talk with kevin brady. he's coming up in just a moment. ahead of that, you might have heard something about the special election in alabama. used to be the reddest of red states. i believe this is birmingham. of course, you're going to see once the polls close in four hours from now, it's anyone's guess how this could sort out. we know the republican candidate, roy moore, arrived on horseback. the democrat chose more conventional means to vote himself. all of this is hinging on getting out their because and the most rabid supporters. that will be very crucial. we have hillary vaughn joining us with the latest. how does turnout look right now? >> neil, we saw a little tempered turnout. not a lot of people. but we're at one location. we'll have to let that stand for itself. judge robert mueller is already putting on the gloves and gearing up for a fight in washington. but first, he has to win the election here in alabama. roy moore galloped to the polls to cast his vote. this is part of his election day tradition hoping to ride his lucky hor

kevin brady. kevin. [applause] kevin brady. so maybe what i'll do is -- and by the way, i mentioned at&t. many companies have come forward and saying they're so happy and they're going to be doing similar announcements. we're going to see something that is special. we're bringing the entrepreneur back into this country. we're getting rid of the knots and the ties and we're going to -- you're going to see what happens. ultimately what does it mean? it means jobs, jobs, jobs. so it's going to be really a special period of time. we're in a special period of time. it's going to be even more so. i want to thank everybody behind me. maybe i can start with mitch and then we'll go to paul and then we're going to have a few folks come up and say a few words and we'll have some fun. mitch, how about you starting? [applause] >> well, let me just say, mr. president, you made the case for the tax bill. but this has been a year of extraordinary accomplishment for the trump administration. we've cemented the court right of center for a genera

trump: kevin brady. heaven. -- kevin. i mentioned at&t, but many companies have came -- come forward saying they are so happy. we will see something very special. we are bringing entrepreneurship back into this country. we are getting rid of all the knots and ties. jobs.tely, it means jobs, jobs, jobs. it will be a special time. we are in a special period of time and it will be even more so. maybe i could start with mitch and then we will go to paul and we will have a few folks come up and say a few words and we will have fun. mitch, how about you start? mr. mcconnell: mr. president, you made the case for the tax bill, but it has been a year of extraordinary, tishman for the trump administration. accomplishmenty for the trump administration. mr. president, thanks to your nominees, we put 12 circuit court judges in place, the most since the circuit court system was established in 1891. you hold the record. [applause] you have ended the overregulation of the american economy and that, coupled with what we did last night and

lots of momentum. >> kevin brady, chairman brady, there are some last-minute changes, can you discuss what the revenue raisers were to make room for the changes? kevin: we will have the joint committee on taxation will lay out the revenue tables shortly. what you will see is that there were adjustments made throughout the tax reform bill. there was not any one or two provisions that allowed it to stay at the $1.5 trillion. it was a combination of different adjustments in areas which we think is the most balanced way to do it. >> are you confident that no one will see tax increases or will there be people who will see a slight increase because of the way things were handled? kevin: i think, no. everyone's lives will be better off under the tax reform because of the tax relief families get because of the higher paychecks because we have a stronger economy. and again, this is all about bringing back jobs from overseas, which if we had not acted now, we will continue this he our headquarters, research, manufacturing, and our jobs leaving the country. so the combination of that will raise

the earnings tool from td ameritrade. >>> kevin brady, chairman of the house ways and means committee speaking his office. >> we're also going to have tax relief for families that live in high tax states. we made that commitment. and we achieved that and we now have a $10,000 deduction for s.a.l.t. taxes, families can fill it up with the way they need for their families. we have a lower top bracket, really a key ask by lawmakers in s.a.l.t. states, but those help everybody in america as well, and then we did achieve even more middle class tax relief and so all that was done to drive tax relief for everyone, regardless of where they live. >> with not attention to the deficit? >> absolutely not. that was continuing to lower the brackets and lower the rates, make sure we're -- we want people to keep more of what they earn wherever they live and we achieved that. >> can you talk about the timeline of votes first, house, senate also, what about -- does that -- >> well, i always leave the timing in the vote to schedule for our leadership i do know we'll be returning monday to begin the rule

[ applause and cheers ] >> kevin brady. so maybe what i'll do is -- and by the way, i mentioned at&t, but many companies have come forward and saying they are so happy and they are going to be doing similar announcements. we are going to see something that's going to be very special. we are bringing the entrepreneur back into this country. >> yeah. >> we are getting rid of all the knots and ties and you're going to see. you're going to see what happens and ultimately what does it mean? it means jobs, jobs, jobs, jobs. so it's going to be really a very special period of time. we're in a very special period of time. it's it's going to be even more so. i want to thank everybody behind me. maybe i could start with mitch and then paul and then a few of the folks come up and say a few words and we'll have a little fun, thank you. mitch, how about you start it? [ applause ] >> thank you very much. [ applause ] >> well, let me just say, mr. president, you made the case for the tax bill, but this has been a year of extraordinary acc

i want to thank kevin brady, who i know hours and hours and hours worked hard to make this happen

[applause] the speaker: i thank mitch mcconnell and these two chairmen, orrin hatch and kevin brady. thanks for your leadership on this. [applause] the speaker: it is really simple. the message to the hard-working message to the american taxpayer is your relief is on its way. the message to the families who have been struggling paycheck to paycheck, your paychecks are going up. this is the kind of relief that americans deserve. this is the kind of tax reform and tax cuts that gets our economy growing to reach its potential. this gets us better wages, bigger paychecks, a simpler tax system. this gets the american economy competitive in the global economy. this is one of the most important things we could do for all of the people we represent. this is the -- generational. and we are so excited that we are going to launch next year this fantastic tax reform so that the american people can see how we can truly reach our economic growth and our economic potential and if it weren't for all the leadership of the men and women up here this would not have been made impossible. i thank the ame

kevin brady. kevin. [ applause ] kevin brady. so maybe what i'll do is -- and by the way, i mentioned at&t, but many companies have come forward in saying they're so happy and they're going to be doing similar announcement. we're going to see something that's going to be very special. bringing the entrepreneur back into the country, getting rid of all the knots and ties and you're going to see what happens and ultimately what does it mean? it means jobs. jobs, jobs, jobs. so it's going to be really a very special period of time. we're in a very special period of time, and it's goings to be even more so. i want to thank everybody behind me. maybe i could start with mitch and then go to paul, and then we're going to have a few folks come up and say a few words and we'll have a little fun. okay? much, how about you start it? [ applause ] >> well, let me just say, mr. president, you made the case for the tax bill, but this has been a year of extraordinary accomplishments for the trump administration. [ applause ] we've cemented the s

i want to echo what kevin brady said. i want to thank all of the staff for their hard work. i want to thank george from our staff who came to help us and summoning other people to make possible. we come to these jobs to try to improve the lives of the people we represent. in this bill more than so many other things we have tried to do does that and so we are very thankful and very helpful. we can see on the horizon a great potential are our people and for our economy. we know this is the greatest country on earth and we know that merrick a has better days -- we know that america has better days ahead. this bill passed that potential. i just looked at the state of wisconsin, the average family of four will get an average of a $2000 tax cut. we are heartened that hours after the bill passed we are seeing companies across the country giving bonuses to their employees. one company $50 billion in investment and capital improvements because of this tax bill. we are encouraged that this is going to give the american economy adult it needs to give people the opportunity they deserve

i also want to echo what kevin brady said. i want to thank the staff for all their hard work. i want to thank george callus on our staff who came to the ways and means committee with so many other people to make this possible. we come to these jobs to try and improve the lives of the people we represent. and this bill more than so many other things we've ever tried to do does that. so we're very thankful and hopeful. because when we've been working on this issue for so many years, we can see on the horizon the great potential for our people and our economy. we know this is the greatest country on earth and we know that america has better days ahead and we know that america has so much more potential to tap. this bill taps that potential. just look at the state of wisconsin. the average income family of four in wisconsin is going to get in excess of a $2,000 tax cut. that's real relief for real people living paycheck to paycheck. we're heartened that hours after this bill passed we're seeing companies across the country given bonuses to their employees. one company in philadelp

kevin brady. kevin brady. so maybe what i'll do -- by the way, i mentioned at&t, but many companies have come forward saying they are so happy and saying they are doing similar announcements. we are seeing something very special. bringing the entrepreneur back into this country and you'll see what happens. and ultimately what does it mean? it means jobs. jobs, jobs, jobs. so it's going to be really special period of time. we are in a special period of time. and it's going to be even more so. i want to thank everybody behind me. maybe i can start with mitch, then we'll go to paul, and have a couple of folks come up and say a few words. okay. thank you. mitch, how about you starting. >> well, let me just say, mr. president, he made the case for the tax bill. but this has been a year of extraordinarily accomplishment for the trump administration. [ applause ] we have cemented supreme court right of center for a generation. [ applause ] mr. president, thanks to your n nominees, we put 12 circuit court judges in pl

i want to thank chairman kevin brady, i want to thank all the men and women who made this possible. this has been a long work in progress. what this achievement marks is a promise that this majority made that is a promise this majority is keeping. we said in 2016 that people would place their trust in him. we're fulfilling our promise. this promise being kept today is one of the most important things we could do to get the u.s. economy growing faster, to help people get bigger paychecks, to have a fairer tax system, and a simplified system so people can have more peace of mind. so kevin said it the right way. on january 1, americans are going to wake up with a new tax code. in february, they're going to see withholdings go down so they see bigger paychecks. and april 15th will be the last day they have to comply with the old bad system. this is a good day for america. this is a good day for workers, this is a great day for growth. and we're very excited about this moment. thank you. >> so you have said that you've spoken often about the tax cuts families will see in the first few ye

where representative kevin brady is taking questions. >> did you have to get last-minute tweaks to get rubio on board over there? >> we've really worked to make sure we've got collective priorities and got it done on time and worked up through that process. >> why do you think the wealthiest need another tax cut? >> well, that's exactly wrong. this delivers and prioritizes middle class tax relief. and for many families in america, working blue collar families will see a tax reduction of between $1,200 and $2,000 that's real money for, woulding class families to the rate has been lowered to help families in our high tax states who asked for help because the state and local income tax deductions will be capped at 10,000. >> so middle class americans are afraid their taxes will go up in. >> they will see their taxes cut. middle class americans are going to see tax relief, and they will be better off with higher paychecks because now american caps are going to be able to compete and win anywhere in the world, including here at home. >> any sort of highlights or anything like that earlier i

he has been incredible and kevin brady incredible. you guys have been just really, really amazing. although i should say that ii shouldn't saythat before we . we have been there too many times. get the vote first, right? [laughter] i want to thank my whole team, gary and >> i want to thank my whole team, gary and steve and everybody. appreciate it. we are very close to getting it done, very close to voting and our economy as you know has surged from where it is. we were having an economy that was going in the wrong directio direction, the last administration were administrations in this country were going in the wrong direction from an economic standpoint and you saw where it was, one of the early times, 1%,

but the senate finance chairman, orin hatch and kevin brady, they will have to listen to all their members to round up the votes so you can pass both the house and senate. seen it happen is something rare these days. they'll been opportunity for the gop to show how they can govern or if they can't get it together it will have serious political consequences. thank you for the update. >> this weekend on american history tv on c-span three, saturday at 7:00 p.m. eastern yale university historian joann freeman and "alexander hamilton". >> when washington became president he made -- and in the post he structured a national financial system and push to strengthen and empower the national government. watching a fierce political battle against those who wanted a far less powerful government. >> sunday at 4:00 p.m. eastern unreal america. the training film on welcome affection about inappropriate behavior in the workplace. >> i make a lot of decisions, i do evaluation reports, sign passes and leaves and if you want to get a loan will be beneficial to to be a little nicer to me. >> and on eight on a

kevin brady was telling me why tax rate should be delayed for another year. the senate delays the corporate tax rate to 2019. the house plan starts in 2018. how do you feel about that? >> sooner rather than later is the answer. we just think the sooner we can become competitive, the better. our international competitors they are not standing around to look we are talking about it now at the end on tax reform. focusing on that 20% rate, trying to get it in place as soon as we can. the sooner we do it, the more competitively become. neil: the now former u.s. small business administrator, good to have you back. >> thank you, neil. neil: do you think that makes a difference whether his 2018 or 2019? >> and as for those small businesses. they want how some certainty is that they can do their planning. they are interested in their bottom lines. this discussion gets talked a lot about a lot about what to do for the big guys. i'm interested in what's in it for the small guys. any money they have for the bottom line goes right back into their business. we think it's c

kevin brady man runs house ways and means committee. instrumental in the house. part of the conference committee thrashing differences between the senate and house package. one meant to accommodate, accommodated concerns that senator marco rubio had about cuttings downsize of child tax credits down to $1100 when they got high as 2,000 in the senate. back up to around $1400. that seemed calm senator rubio down. no guarranty he is a yes vote. not looking so much as a sure thing of a no vote. they're keeping track of that they hope to have this all sorted out and settled early next week on the president's desk, sign, sealed and delivered. kevin brady we joined that mid progress. they're making great progress. keeping eye on that. keeping eye on this. president trump talking to academy graduates saying he will help build the fbi to better fbi. blake. reporter: couple different messages relates to the fbi today. he was at the national academy speaking to graduates where he was highly complimentary of their profession. did not take any swipes whatsoever at current lead

rep kevin brady/-r- texas: i'm very excited about this moment. republican leaders are one step closer to fulfilling a promise of passing tax breaks by christmas.rep kevin brady/- r- texas: americans deserve a new tax code for a new era of american prosperity.what it does - is give corporations a big break - by permanently cutting their tax rates from the current 35 percent - down to 21 percent.you - as an individual taxpayer - will see some benefits too - like a doubling of the standard deduction - though that's set to go away after 8 years.your personal income tax rate may also lower by one or two percent, depending on how much you make. if you have kids, that child tax credit doubles to two thousand dollars. if that credit is more than what you owe in taxes, you get to keep most of that extra money. that refund initially wasn't enough for florida senator marco rubio.sen. marco rubio / -r- florida: i remain surprised that there is not more consensus to support the reality that we need to do more to help working people in this countrybut an incre

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implications for you with the likes of senator ted cruz, kevin brady, remember, they are to reconcile this in the house as well, with the house, also hearing from democratic congress emmanuel cleburn. finally, florida attorney general pam bondi on how all of this sorts out and the michael flynn situation as well. first right now we will go to lauren simonetti of what we now know is in the bill as what we can sort out as the president arrives at jfk international airport. lauren: he is heading here. we are talking about the tax bill that the senate put overnight in wee hours of the morning but they are still not done. the question is what now? the house is expected to vote monday night on a motion to go to conference which is separate but similar bills into one bill, they would vote on that compromise and send it on to the president's desk, hopefully by christmas, neil, so that means translation, we have 23 calendar days from right now, house and senate republicans will have to address the differences in their bills to pass one with the exact same wording, can all of this be done here

after the bill was filed in the house, ways and means committee chair kevin brady spoke to republicans -- to reporters for 10 minutes. >> good evening, everyone. theave filed the bill on tax act in the house. this means the text of this new tax reform bill will become public now and the american people will be able to assess the impact of a new tax code. deserve,is this, we americans deserve a new tax code for a new era of american prosperity. that is exactly what the tax jobs act does. as we head to the vote, we will also be able to finally because the house and senate versions were different, families, small businesses, and our local businesses that compete around the world will have a bill to analyze and embrace. . am excited about this moment it has been 31 years in the making. and a lot of hard work about a lot of people to make this day happen. i am proud of the tax cuts and jobs act but that -- and i will take questions. >> you are talking about four a postcardling on simplicity. it does not look like that anymore. >> with -- the postcard still remains. are there a few more item

joining us now is texas congressman kevin brady. he is the chairman of the house ways and means committee. mr. chairman congratulations to you. >> good morning maria thank you very much. look this was we are on the one yard line and we intend to punch in a good strong way on tuesday and this means americans on april 15th that will be the last time americans have to file under this horrible broken tax code so there is a lot to be happy about. maria: this is such a big deal congressman and you have been working on this all year. i've been right there watching and covering right there with you watching the ups and downs. tell us about this committee, the conference committee this past week and what is different in this final bill than what we saw going into it from the house and senate what's most important in terms of what changes mr. chairman? >> yeah, maria you know normally , maybe the biggest surprise here for everyone is that the conference committee report turned down a bill better than the house and senate and that rarely happe

earlier today i saw kevin brady on morning joe and he was asked about carried interest, because over and over president trump said it, ma nunnuchin said it, carried interest will not stay in this system. it makes no sense. it's an absolute historic hookup for people on wall street, specifically private equity, and i want to share what kevin brady said. >> no one back home says, hey, how's that carried interest provision going. they're asking, hey, can i keep more of my paycheck. we get the economy going, can we get our jobs back from overseas? my only point to you is i just think those are the big issues families care about, that's all. >> you're damn right, john harwood, nobody back home is asking about carried interest because they have no idea what it is. but the big thing that people do care about is being treated fairly. so what do you make of that argument to say people don't care about that, they absolutely do care, because by keeping carried interest in, it shows what we do have carveouts and side deals and hookups for the super rich. >> well, stephanie, those people in kevin

first i want you to listen to what chairman kevin brady from house ways and means had to say about this historic moment. one of the thins they're highlighting in this bill are the new tax brackets. now, they're promising a family of four that earns roughly $73,000 would receive a tax cutoff $2059 but as you see in these tax brackets it's going to change wildly depending on if you file as a single filer or as a married filer filing jointly. the key here is that they lower ed the top rate down to 37% married filing jointly $600,000 and above, for a single filer $500,000 and above. on the salt deduction, so important to people who itemize and live in high tax states. you will be able to deduct state and local taxes, your property taxes, your income tax or sales tax up to a cap of $10,000. mortgage interest, it is maintained but whereas right now , it's mortgage interest on a value of a mortgage of a million dollars, it will be $750,000, essentially starting on the first of the year. if you currently have a mortgage , nothing changes for you. if you get a new mortgage in 2018, that's where

brady. his endless patience and his persistence and his great demeanor have seen this through and gotten us toier today. -- us to where we are today. my colleagues, this is a day i've been looking forward to for a long time. we are about to achieve some really big things. things that the cynics have scoffed at for years, decades even. ideas that have been worked on for so long, to help hardworking americans who have been left behind for too long. today, today we are giving the people of this country their money back. his is their money, after all. mr. speaker, the house is not in order. the speaker pro tempore: the chair notes a -- contravention of the law and against the rules of the house. the sergeant at arms will identify the person or persons responsible and have them escorted from the house chamber. efore proceedings will resume. the chair will also remind all persons in the gallery that they are here as guests of the house and that any manifestation of approval or disapproval of the p

i want to thank chairman kevin brady. i want to thank all the men and women who made this possible. this has been a long work in progress. what this achievement marks is a promise that this majority made that is a promise this majority is keeping. we said in 2016 that it would take real tax reform for families and businesses to get the american economy growing and we were serious. and the american people placed their trust in us to do this work for them and today we're making good on that promise. we're fulfilling that promise. and this promise being kept today is one of the most important things we could do to get the u.s. economy growing faster, to help people get bigger paychecks, to have a fairer tax system, and to simplify the system so people can have more peace of mind. so kevin said it the right way. on january 1, americans are going to wake up with a new tax code. in february, they're going to see withholdings go down so they see bigger paychecks. april 15 will be the last day they have to comply with the old, bad system. this is a good day for america. this is a good day f

house ways and means chair kevin brady spoke with reporters for about 10 minutes following the filing of the bill. rep. brady: americans deserve a for prosperity, and that is what this bill does. families, small businesses, local businesses that compete around the world will not have a bill to analyze -- will now have a bill to analyze and embrace. i am very satisfied at this moment. it has been 31 years in the making, and we have put a lot of hard work by a lot of people to make this to happen. i am proud of the tax cuts and jobs act. reporter: when we started, we were talking about simplicity. it doesn't look like that anymore. rep. brady: with the standard induction nearly doubled, the postcard still remains. are there a few more items on it? sure. but that was the process we wanted. we said from the beginning, this isn't our tax bill. it belongs to the american people. in the house, we really took it down to foundation and began to rebuild it the way the american people want it in the 21st century, not 30 or 50 years ago. we listened. our lawmakers listened to their constituents,

house ways and means committee chair kevin brady wrapping up a briefing with reporters on today's filing of the house-senate negotiations on tax reform. both the house and senate will debate and vote on the measure next week. the house, voting on tuesday, the bill possibly reaching bysident trump's desk christmas. if you would like to read that conference report, visit our website, www.c-span.org, and as always, watch the house live on c-span and the senate live on c-span2. lots of reaction from house and senate members, including chairman brady who you just saw who tweeted, we are in the home stretch, and i couldn't be more excited to deliver the tax cuts and jobs act to the american people. americans will have a new tax code for the new year. but california congressman mike thompson thinks differently and posted, republicans just dropped their final tax bill, and it is just as bad as we expected. massive tax breaks for the richest and corporate interests with tax >> for the middle class. i will vote against this bill, and i hope my republican colleagues come to their senses and do the

after the bill was filed in the house, ways and means committee chair kevin brady spoke to reporters for 10 minutes. >> good evening, everyone. we have filed the bill on the tax act in the house. this means the text of this new tax reform bill will become public now and the american people will be able to assess the impact of a new tax code. my point is this, we deserve, americans deserve a new tax code for a new era of american prosperity. that is exactly what the tax cuts and jobs act does. as we head to the vote, we will also be able to finally because the house and senate versions were different, families, small businesses, and our local businesses that compete around the world will have a bill to analyze and embrace. i am excited about this moment. it has been 31 years in the making. and a lot of hard work about a lot of people to make this day happen. i am proud of the tax cuts and jobs act and i will take questions. >> you are talking about four brackets filing on a postcard simplicity. it does not look like that anymore. >> with the standard deductions -- the postcard still r

you see senator scott, kevin brady. smaller group of the same group that was assembled at the white house yesterday to celebrate the passage of the bill. diane black is there. so i'm not sure why -- okay. well, there's tim scott. let's listen in. >> good morning. what a good morning this is. a fantastic day, christmas coming early for the american people. the house and the senate working together putting aside all differences with one clear objective. making sure the american people are heard. making sure that small businesses have an opportunity to grow. we have seen a tre mmendous victory through this process. it is because trusting with the confidence of thafr voeir voter bring forward a victory. i am pleased we're led by leader mcconnell who has done a fabulous job of bringing 52 cats all working in different directions together for one purpose. to serve the american people. >> well, thanks, tim. this is a happy day, indeed, for the american people. these middle class tax cuts are resonating already. we've used the

[applause and cheering] kevin brady: ok, guys. thank you, mr. president.

great job. [ applause ] kevin brady. kevin. [ applause ] kevin brady. so maybe what i'll do is -- and by the way, i mentioned at&t, but many companies have come forward and saying they're so happy and they're doing similar announcements. we're getting rid of all the knots and all the ties and we're going to -- you're going to see. you're going to see what happens and ultimately what does it mean it means jobs. jobs, jobs with jobs so it's going to be really a special period of time, we're in a very special period of time and it's going to be even more so i want to thank everybody behind me maybe i could start with mitch, then paul, and then we're going to have a few of the folks come up and say a few words and we'll have a little fun. okay, thank you. mitch, how about you start it? [ applause ] >> well, let me just say, mr. president, you made the case for the tax bill but this has a year of extraordinary accomplishment for the trump administration [ applause ] we've cemented the supreme court right of center for a generation [ applause ] mr. president,

we'll be speaking to top gop tax writer ways and means chair kevin brady. that is next >>> then, house speaker paul ryan will join us at 8:40 a.m. eastern time stick around, "squawk box" will be right back. th it? believe it or not you actually like what you do. even love it. and today, you can do things you never could before. you're working in millions of places at once with iot sensors. analyzing social data on the cloud to create new designs. and using blockchain to help prevent fraud. so get back to it and do the best work of your life. >>> we're just seconds away from jobless claims and the third estimate -- the third estimate on third-quarter gdp okay, i love those that definitely could be -- >> threes, baby, threes are wild. >> that could be a bit second on first, third on second the third on the fourth. the futures are up 45 points now. it was amazing watching the news yesterday. so many clueless anchors on other channels asking why did the market go down yesterday if this was such a great deal a market up 35%. anyway, rick standing by in chicago.

congressman kevin brady. thank you so much for being here today. >> thanks, becky thanks for having me >> you have a lot of work ahead of you, and i want to run through how you plan to tackle all of this. what happened at the house freedom caucus >> well, look, they had discussions with leadership about the end of the year's spending process, how that's going to work out. i wasn't part of those skugs because i was leading the effort to move to a conference committee. leadership has got the details of that. what i do know is the house voted strongly to go to a conference committee, and here's why. bottom line, both the house and senate bills are strong, and they can be stronger there's a lot of improvements. we are still eager to make those. yesterday was an important step. >> the freedom caucus relented it would have allowed this vote that a lot of people saw as something that was just going to sail past. they are showing their muscle, and i just wonder what type of things have those caucus members asked for