1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:07,720 --> 00:00:09,920 Speaker 2: You're hoping to avoid some ping pong between the House 3 00:00:09,960 --> 00:00:12,400 Speaker 2: and the Senate. Joining us now, a man with experience 4 00:00:12,480 --> 00:00:14,080 Speaker 2: of all of this, the former Speaker of the House, 5 00:00:14,160 --> 00:00:16,720 Speaker 2: Kevin McCarthy speaking McCarthy, Welcome back to the program, sir. 6 00:00:16,920 --> 00:00:18,520 Speaker 2: It's good to get your thoughts. I want to lead 7 00:00:18,560 --> 00:00:20,119 Speaker 2: with a question that am Marie asked a little bit 8 00:00:20,160 --> 00:00:23,720 Speaker 2: earlier on the program. When you're hurting cats on Capitol Hill, 9 00:00:23,840 --> 00:00:26,040 Speaker 2: is it easier or harder when the President of the 10 00:00:26,079 --> 00:00:27,920 Speaker 2: United States is Donald Trump? 11 00:00:28,440 --> 00:00:29,560 Speaker 3: Oh, it's so much easier. 12 00:00:29,600 --> 00:00:32,840 Speaker 1: President Trump is stronger today than he was at any 13 00:00:32,840 --> 00:00:36,000 Speaker 1: time in his political career. President Trump is stronger in 14 00:00:36,040 --> 00:00:38,080 Speaker 1: the House. Remember, just to get this bill out of 15 00:00:38,120 --> 00:00:40,560 Speaker 1: the House, they all said they weren't going to vote 16 00:00:40,600 --> 00:00:43,000 Speaker 1: for it. President Trump came down to a conference told 17 00:00:43,040 --> 00:00:46,000 Speaker 1: both sides from Salt it's over. From the Freedom Caucus, 18 00:00:46,040 --> 00:00:48,239 Speaker 1: that's over. Everyone who said they wasn't going to vote 19 00:00:48,280 --> 00:00:50,159 Speaker 1: for it voted for it in twenty four hours. 20 00:00:50,200 --> 00:00:51,960 Speaker 3: So this bill's going to get passed. 21 00:00:51,960 --> 00:00:54,040 Speaker 1: The only thing that's holding up when this bill gets 22 00:00:54,040 --> 00:00:57,520 Speaker 1: passed is the weather in DC and the attendance of 23 00:00:57,560 --> 00:00:58,800 Speaker 1: how that people get here. 24 00:00:59,000 --> 00:01:01,960 Speaker 4: Well, yeah, people now have to come back to Washington 25 00:01:01,960 --> 00:01:03,400 Speaker 4: when they thought they were going to have this week 26 00:01:03,400 --> 00:01:05,880 Speaker 4: off speak of McCarthy. So you think the Freedom Caucus 27 00:01:06,240 --> 00:01:09,000 Speaker 4: will fold again? Will they fold by July fourth? 28 00:01:11,120 --> 00:01:13,120 Speaker 3: I believe so. I mean, think about this. 29 00:01:13,720 --> 00:01:17,920 Speaker 1: Mike Lee, Rick Scott, Ron John all voted for this 30 00:01:18,040 --> 00:01:20,720 Speaker 1: bill in the Senate and they're not going to vote 31 00:01:20,760 --> 00:01:22,600 Speaker 1: for it. So if they don't want to vote for 32 00:01:22,640 --> 00:01:24,679 Speaker 1: and they vote no, they're sitting with the Democrats and 33 00:01:24,720 --> 00:01:26,280 Speaker 1: want to increase taxes. 34 00:01:26,520 --> 00:01:27,480 Speaker 3: They have no place to be. 35 00:01:27,800 --> 00:01:29,959 Speaker 1: What they want to do is get the attention they 36 00:01:30,000 --> 00:01:33,080 Speaker 1: always crave. So they talk about that now. But how 37 00:01:33,080 --> 00:01:35,200 Speaker 1: many times can you cry wolf and say you're not 38 00:01:35,200 --> 00:01:37,080 Speaker 1: going to vote for something and in twenty four hours 39 00:01:37,160 --> 00:01:37,800 Speaker 1: vote for it. 40 00:01:38,440 --> 00:01:40,200 Speaker 3: They have done this numerous times. 41 00:01:40,360 --> 00:01:43,000 Speaker 1: They want the President's attention, They say this so they 42 00:01:43,000 --> 00:01:45,880 Speaker 1: can go down to the Oval Office and see the president, 43 00:01:45,920 --> 00:01:47,800 Speaker 1: then go back home and say they saw the president. 44 00:01:47,880 --> 00:01:50,000 Speaker 4: So do you think the rule vote, which comes first 45 00:01:50,080 --> 00:01:51,640 Speaker 4: will pass because we can't see the bill on the 46 00:01:51,640 --> 00:01:52,880 Speaker 4: floor until that goes through. 47 00:01:54,120 --> 00:01:55,440 Speaker 3: I believe yes, it'll pass. 48 00:01:55,680 --> 00:01:57,960 Speaker 1: It's all going to come down to attendance today. How 49 00:01:57,960 --> 00:01:59,240 Speaker 1: many people could make. 50 00:01:59,080 --> 00:01:59,640 Speaker 3: It to DC. 51 00:02:00,120 --> 00:02:02,600 Speaker 1: A lot of flights were canceled, so do they have 52 00:02:02,640 --> 00:02:04,840 Speaker 1: to delay it a day or not. But this bill 53 00:02:04,920 --> 00:02:07,840 Speaker 1: will pass. Remember it already passed the House, that has 54 00:02:07,880 --> 00:02:11,040 Speaker 1: now passed the Senate, and you've got the July fourth 55 00:02:11,080 --> 00:02:14,520 Speaker 1: deadline holding right behind you. There's a lot of pressure 56 00:02:14,560 --> 00:02:17,840 Speaker 1: mounting here. President Trump has done a tremendous job on this, 57 00:02:17,919 --> 00:02:20,720 Speaker 1: but he has become the speaker in the same timeframe. 58 00:02:20,840 --> 00:02:23,160 Speaker 1: Every time he's leaned into a bill it's been able 59 00:02:23,200 --> 00:02:23,600 Speaker 1: to pass. 60 00:02:23,680 --> 00:02:26,679 Speaker 4: He's the closer, he's the speaker in chief. How concerned 61 00:02:26,720 --> 00:02:30,960 Speaker 4: are basically just congressmen and women about being torched on 62 00:02:31,040 --> 00:02:35,600 Speaker 4: truth social like Thomas Massey, Well, you. 63 00:02:35,560 --> 00:02:38,880 Speaker 1: Look at Tom Tillis, I mean Tom Tillis, who had 64 00:02:38,960 --> 00:02:42,000 Speaker 1: a lot inside this bill, was pushing people to put 65 00:02:42,040 --> 00:02:44,520 Speaker 1: more inside the bill, turns around and decides not to 66 00:02:44,560 --> 00:02:45,480 Speaker 1: run for reelection. 67 00:02:46,160 --> 00:02:47,560 Speaker 3: I think that plays. 68 00:02:47,240 --> 00:02:50,359 Speaker 1: On the mind of a lot of individuals, and people 69 00:02:50,400 --> 00:02:52,480 Speaker 1: are now being able to look at the bill. At first, 70 00:02:52,520 --> 00:02:56,040 Speaker 1: they're always arguing about what's wrong. They're not really looking 71 00:02:56,040 --> 00:02:59,240 Speaker 1: at what's positive. That you're not raising taxes, you're actually 72 00:02:59,240 --> 00:03:02,440 Speaker 1: getting the economy moving again, You're keeping your promises for 73 00:03:02,520 --> 00:03:04,520 Speaker 1: those who are sitting in salt districts, and you had 74 00:03:04,520 --> 00:03:07,760 Speaker 1: a list of there people who are leaning No. Nick Laylonda, 75 00:03:07,880 --> 00:03:10,880 Speaker 1: he said he's for this bill. That's a big movement 76 00:03:10,960 --> 00:03:14,519 Speaker 1: for because he actually improved salt for his district when 77 00:03:14,520 --> 00:03:17,160 Speaker 1: it was ten thousand is now forty thousand. He can 78 00:03:17,200 --> 00:03:20,680 Speaker 1: go back home and champion what he was able to achieve, 79 00:03:20,760 --> 00:03:22,240 Speaker 1: but at the same time, coffee he. 80 00:03:22,240 --> 00:03:23,160 Speaker 3: Votes as a victory. 81 00:03:23,240 --> 00:03:25,480 Speaker 4: At the same time, though there really won't be a cap. 82 00:03:25,639 --> 00:03:27,640 Speaker 4: The cap expires at the end of the year. So 83 00:03:28,000 --> 00:03:30,200 Speaker 4: don't you think a salt caucus does have some level. 84 00:03:31,320 --> 00:03:35,200 Speaker 3: Goes after five years. No, from the same standpoint, it wouldn't. 85 00:03:35,080 --> 00:03:37,080 Speaker 1: Go totally go away or people going to let these 86 00:03:37,120 --> 00:03:40,520 Speaker 1: taxes all go away. He'd been able to achieve something 87 00:03:40,760 --> 00:03:44,040 Speaker 1: while keeping taxes low. If he wanted salt to go away, 88 00:03:44,280 --> 00:03:46,760 Speaker 1: raise taxes on all of his individuals and play that way, 89 00:03:46,800 --> 00:03:48,160 Speaker 1: that's not why people elect him. 90 00:03:48,200 --> 00:03:49,200 Speaker 3: They elect him there. 91 00:03:49,040 --> 00:03:52,080 Speaker 1: To go legislate, and that's exactly what he did. He 92 00:03:52,160 --> 00:03:55,520 Speaker 1: improved the life of his constituents, and he can champion 93 00:03:55,600 --> 00:03:57,960 Speaker 1: that and actually be celebrated back home. 94 00:03:58,280 --> 00:04:01,400 Speaker 5: Each of the constituents trying to improve the life of 95 00:04:01,440 --> 00:04:06,080 Speaker 5: their region from an overarching federal perspective, which is a 96 00:04:06,080 --> 00:04:09,320 Speaker 5: federal law. Do you think that this is a good bill. 97 00:04:09,480 --> 00:04:11,800 Speaker 1: Yes, this is a very good bill, because what would 98 00:04:11,880 --> 00:04:13,760 Speaker 1: happen if you did not pass this bill. 99 00:04:13,960 --> 00:04:15,600 Speaker 3: Your taxes would go up. 100 00:04:16,480 --> 00:04:19,200 Speaker 1: The economy would spur a little down. I mean, this 101 00:04:19,320 --> 00:04:21,680 Speaker 1: is exactly keeping the promise. And if you want to 102 00:04:21,720 --> 00:04:24,880 Speaker 1: put it in perspective, this bill is exactly what President 103 00:04:24,920 --> 00:04:25,920 Speaker 1: Trump campaigned on. 104 00:04:26,160 --> 00:04:27,719 Speaker 3: So the American people voted for that. 105 00:04:28,000 --> 00:04:31,800 Speaker 1: He won the popular vote, something a Republican president has. 106 00:04:31,600 --> 00:04:33,919 Speaker 3: Not done in more than thirty years. He says, no 107 00:04:34,040 --> 00:04:35,000 Speaker 3: tax on tips. 108 00:04:35,200 --> 00:04:38,159 Speaker 1: It's keeping his promise and it's the first thing people 109 00:04:38,200 --> 00:04:40,080 Speaker 1: look at. And even if you didn't vote for him, 110 00:04:40,120 --> 00:04:42,279 Speaker 1: you respect that you kept your promise. 111 00:04:42,320 --> 00:04:43,000 Speaker 3: That's a change. 112 00:04:43,120 --> 00:04:45,359 Speaker 1: You said you'd secure the border, you secured the board 113 00:04:45,400 --> 00:04:47,000 Speaker 1: with all respect, said you would move it to make 114 00:04:47,000 --> 00:04:47,840 Speaker 1: sure the tax are done. 115 00:04:48,120 --> 00:04:50,200 Speaker 3: Yes, whatever respect you want to give me, I'll take. 116 00:04:51,080 --> 00:04:52,599 Speaker 3: I'll give you loads of respect. 117 00:04:52,920 --> 00:04:56,440 Speaker 5: There's a real question right now about the deficit increasing 118 00:04:56,640 --> 00:04:58,760 Speaker 5: and the fact that there is a perception and it 119 00:04:58,839 --> 00:05:02,280 Speaker 5: was edified by the Cores Budget Office saying that essentially 120 00:05:02,360 --> 00:05:04,200 Speaker 5: this would take money out of the pockets of the 121 00:05:04,200 --> 00:05:07,760 Speaker 5: lowest income individuals in the United States, and it would 122 00:05:07,800 --> 00:05:11,480 Speaker 5: add to the higher income individuals significantly in the form 123 00:05:11,520 --> 00:05:15,440 Speaker 5: of tax cuts and other potential benefits. That isn't necessarily 124 00:05:15,600 --> 00:05:18,120 Speaker 5: one of the agenda items that was promised on the 125 00:05:18,120 --> 00:05:18,840 Speaker 5: campaign trail. 126 00:05:18,920 --> 00:05:19,280 Speaker 3: Correct. 127 00:05:20,520 --> 00:05:22,400 Speaker 1: Well, all due respect to you, if you look back 128 00:05:22,440 --> 00:05:24,599 Speaker 1: at the tax bill that we're keeping in place, what 129 00:05:24,839 --> 00:05:28,480 Speaker 1: happened after it was placed. People actually got more income. 130 00:05:29,000 --> 00:05:32,840 Speaker 1: Companies gave thousand dollars checks to their employees. So the 131 00:05:32,880 --> 00:05:34,960 Speaker 1: CBO can score it one way, but we know what 132 00:05:35,040 --> 00:05:37,400 Speaker 1: reality is. We know what we're seeing right now as 133 00:05:37,440 --> 00:05:39,360 Speaker 1: well with the S and P five hundred set a 134 00:05:39,400 --> 00:05:43,039 Speaker 1: new record. So I think that lives much stronger to 135 00:05:43,040 --> 00:05:44,560 Speaker 1: the American public than anything else. 136 00:05:44,600 --> 00:05:45,719 Speaker 3: When they keep their promise. 137 00:05:45,960 --> 00:05:49,359 Speaker 1: The economy stronger, the border is secure. You're watching the 138 00:05:49,400 --> 00:05:51,520 Speaker 1: Middle East go to a place we haven't seen in 139 00:05:51,520 --> 00:05:53,880 Speaker 1: a long time, trying to end war in Ukraine. 140 00:05:54,160 --> 00:05:55,920 Speaker 3: Yes, the world is a much. 141 00:05:55,720 --> 00:05:58,919 Speaker 1: Better place because we elected President Trump, and yes he 142 00:05:59,000 --> 00:06:01,640 Speaker 1: is keeping his promise and this aligns exactly with that, 143 00:06:01,960 --> 00:06:03,640 Speaker 1: and America will be stronger for it. 144 00:06:03,800 --> 00:06:06,040 Speaker 4: Speaking McCarthy, I'd love to talk to you about your 145 00:06:06,040 --> 00:06:11,279 Speaker 4: relationship with both President Trump and your friend Elon Musk. 146 00:06:11,400 --> 00:06:14,039 Speaker 4: Are you being called in to try to mediate this 147 00:06:14,120 --> 00:06:15,000 Speaker 4: feud we see? 148 00:06:16,520 --> 00:06:18,080 Speaker 1: I have not been called in, and I just know 149 00:06:18,120 --> 00:06:20,359 Speaker 1: when two bulls fight, the only people who lose is 150 00:06:20,400 --> 00:06:22,240 Speaker 1: the ground underneath it, and I don't want to be 151 00:06:22,320 --> 00:06:25,159 Speaker 1: that turf. One thing I do know is when those 152 00:06:25,160 --> 00:06:27,599 Speaker 1: two work together, there's nothing we can't achieve. 153 00:06:28,000 --> 00:06:30,560 Speaker 3: So in the same mindset, I think. 154 00:06:30,400 --> 00:06:33,080 Speaker 1: People need to take a deep breath. Let's get back 155 00:06:33,120 --> 00:06:36,080 Speaker 1: to where we were before. Let's put America first and 156 00:06:36,160 --> 00:06:38,480 Speaker 1: find the way that we make everybody stronger. 157 00:06:38,640 --> 00:06:41,440 Speaker 2: Speaker McCarthy with respect and thanks, Thank you, sir. I 158 00:06:41,480 --> 00:06:42,560 Speaker 2: appreciate your time as. 159 00:06:42,520 --> 00:06:43,960 Speaker 3: Alway, thank you, take care, Thank. 160 00:06:43,839 --> 00:06:45,600 Speaker 2: You, buddy, Thank you very much. The former Speaker of 161 00:06:45,600 --> 00:06:47,640 Speaker 2: the House, Kevin mccarthie that I'm staying in that line.