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Speaker 1: Live from our nation's came this budget thing is going

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Speaker 1: to do nothing space Forts. I still think it's interesting

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Speaker 1: President Trump not playing his cards yet. Headlines Policy and

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Speaker 1: Politics colliding Floomberg Sound On, the Insiders, the influencers, the insides.

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Speaker 1: I would rather see a congressional solution. It's part of

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Speaker 1: my DNA. The Senate map in looks a lot different

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Speaker 1: than it looked in. You really have a divide within

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Speaker 1: Team Trump. The present has to do exactly what people

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Speaker 1: send him here to do, which is to get it done.

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Speaker 1: This is Bloomberg Sound On with Kevin Shirley on Bloomberg

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Speaker 1: one and one oh five point seven fm h D.

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Speaker 1: Two lots to get through, folks, impeachment vote the first

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Speaker 1: step in the process. What comes next? The White House

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Speaker 1: is calling it a witch hunt on Halloween. Meanwhile, happy

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Speaker 1: Nats win World Series champions. How cool is that? We've

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Speaker 1: got an all star panel to get through and we're

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Speaker 1: gonna check in with Congressman Denver Riggleman, a Republican from Virginia.

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Speaker 1: He's calling in uh this where Max Burns is here

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Speaker 1: in studio. Democratic strategist senior contributor at Millennial Politics, Tyler

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Speaker 1: Deaton Republican strategists and fundraiser. He is also the president

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Speaker 1: of Allegiance Strategies. He's always in in Los Angeles these days,

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Speaker 1: but finally he's back here in Washington, d C. We've

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Speaker 1: got this great story about the Washington about the Nationals,

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Speaker 1: Nationals tax collectors set to score post World Series, and

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Speaker 1: the author of that story, Bloomberg Sam McQuillan, is going

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Speaker 1: to call in the Washington Nationals or World Series champions

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Speaker 1: for the first time, and for the first time in

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Speaker 1: line for lofty bonuses subject to a mix of taxes

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Speaker 1: and fees, taxes that will get you even when you

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Speaker 1: win the World Series. What a game last night? I mean, truthfully,

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Speaker 1: what a game in the parade is gonna be on Saturday.

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Speaker 1: And yeah, They're just a great, great moment for Washington.

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Speaker 1: As I was leaving the White House this morning and

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Speaker 1: going after some early morning uh stuff for Bloomberg TV

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Speaker 1: and a walking up to the Capitol, it was probably

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Speaker 1: one of the only times where I've seen Republicans and

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Speaker 1: Democrats all of rooting for the same thing. Hey, but

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Speaker 1: Ted Cruiz is mad. Everybody Ted Cruz was mad. Joining

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Speaker 1: us here in studio, Tyler Deaton Republican strategist and fundraiser.

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Speaker 1: He's president of Allegiance Strategies and Max Burns, Democratic strategist

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Speaker 1: senior contributor at Millennial Politics. Did you, gentlemen, watch the

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Speaker 1: game last night? I'm a Braves fan? Are you a

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Speaker 1: Yankees fan? Though? I'm a Cubbs fan. I'm a Chicago boy.

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Speaker 1: But the other way that went to Game seven? Though,

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Speaker 1: I do, I made a lot of mistakes in my life.

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Speaker 1: That's rude. I love New York City. I would move

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Speaker 1: to New York City happily. I'll trade you. I like

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Speaker 1: my my life here in Washington, d C. All right,

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Speaker 1: So there was a big, big, big, big vote today.

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Speaker 1: I'm sure you both followed it. And and so I

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Speaker 1: get up there to Capitol Hill. I'm trying to figure

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Speaker 1: out precisely what we're voting on because all week I've

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Speaker 1: been covering this, since they've announced that they were going

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Speaker 1: to do this, And really essentially what it does is

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Speaker 1: kickstart the impeachment inquiry process and allow for the process

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Speaker 1: to formally get underway and for their potentially to be

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Speaker 1: open hearings in Congress. So they vote this, it's largely

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Speaker 1: a party line vote. Speaker Pelosi calls it a quote

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Speaker 1: unquote somber sad day. Republicans are calling it a witch hunt,

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Speaker 1: a witch hunt on Halloween. And it was a party

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Speaker 1: line vote except for two Democrats. I was actually struck

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Speaker 1: by by that there were two Democrats who voted with Republicans.

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Speaker 1: But where do we go from here? Tyler, Well, I

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Speaker 1: think Speaker Pelosi is probably a little disappointed that she

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Speaker 1: didn't pull a single Republican over onto the yes side.

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Speaker 1: I'm a little surprised by that myself. There's so many

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Speaker 1: Republicans retiring not running again. There's probably at least a

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Speaker 1: couple of Republicans who might have seen some political benefit

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Speaker 1: from voting yes, and even they didn't vote yes. So

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Speaker 1: I think that that was a blow to her and

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Speaker 1: the fact that this is starting out in a very

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Speaker 1: partisan way. Well, let's take a listen, Max to to

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Speaker 1: what Speaker of the House Nancy Pelosi had to say

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Speaker 1: about it. Take a listen. I don't know why the

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Speaker 1: Republicans are afraid of the truth. Every member should support

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Speaker 1: allowing the American people to hear the facts for themselves.

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Speaker 1: This that is really what this vote is about. So

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Speaker 1: the vote was to thirty two to one. As I mentioned,

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Speaker 1: there were two Democrats who broke from their party voted

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Speaker 1: against the resolution, Congressman Jeff Van Drew of New Jersey

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Speaker 1: and Colin Peterson of Minnesota. They both voted no. Why,

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Speaker 1: I have no idea. Are you surprised by that? It is.

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Speaker 1: It's a little surprising. And it's surprising also to see

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Speaker 1: the Tulsa gabberd voted for impeachment after being very skeptical

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Speaker 1: of it in the debate. But it really shows the

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Speaker 1: brilliant interesting you're the first person I heard today hoo

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Speaker 1: mution that good point. Yeah, she shows you the brilliance

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Speaker 1: of Nancy Pelosi giving Republicans essentially what they've been complaining

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Speaker 1: about for weeks. They said, this is an impeachment in private,

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Speaker 1: it's in the basement, and then they universally vote against

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Speaker 1: the most transparent impeachment process in American history. So Congressman

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Speaker 1: Jim Jordan, a Republican from Ohio, I was asked about this.

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Speaker 1: Take a listen to what he had to say. He's

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Speaker 1: been one of the President's most the loudest, fiercest critics

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Speaker 1: on the issue of impeachment. Here is one member this

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Speaker 1: body knows who this person is who started this hold

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Speaker 1: on crazy process chairmanship and what this resolution do gifts

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Speaker 1: have even more power to run this secret proceeding in

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Speaker 1: a bunker in the basement of the Capital. A bunker

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Speaker 1: in the basement of the of the Capital huh ti,

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Speaker 1: also known as a skiff or an area where they

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Speaker 1: can review classified information. I mean, I think apparently is

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Speaker 1: very easy to get into. Apparently. Um look, I don't

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Speaker 1: understand why we even care what a member of the

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Speaker 1: minority party in the House says about this process. I disagree.

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Speaker 1: I'm only interested in what Senate Republicans have to say.

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Speaker 1: The outcome in the House is predetermined, and so Jim

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Speaker 1: Jordan and other really far right members of the House

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Speaker 1: are going to continue to opine. But what I want

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Speaker 1: to hear is Susan Collins. I want to hear Mitt Romney.

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Speaker 1: I want to hear Lisa Makowski, because I think that

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Speaker 1: what this spoils down to is we know what the

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Speaker 1: House is going to do. The House is going to

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Speaker 1: vote to impeach, and when this moves over to the Senate,

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Speaker 1: I think I and most other Americans are really intrigued

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Speaker 1: to see, like if this is going to break off

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Speaker 1: of party lines in the Senate, because if it doesn't,

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Speaker 1: then this is just going to be one gigantic waste

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Speaker 1: of time. I mean, well, I mean you've already heard.

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Speaker 1: I mean that part I agree with, but but you

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Speaker 1: already have heard that the votes aren't there. I mean,

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Speaker 1: even the comments coming from Senate Majority Leader Mitch McConnell's

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Speaker 1: office with regards to the to the to the folks

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Speaker 1: who are going to be voting, I mean, it's just

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Speaker 1: it's it's really just been steady in that regard. Here's

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Speaker 1: why I disagree with you on on regards to Congressman

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Speaker 1: Jim Jordan's because Jim Jordan has emerged as one of

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Speaker 1: as the the voice of the minority party on this

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Speaker 1: That's a that is interesting because it it it illustrates

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Speaker 1: that the Freedom Caucus has a direct line into President

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Speaker 1: Trump's ear, and it it furthers their relationship in a

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Speaker 1: way that the Freedom Caucus has been able to utilize

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Speaker 1: versus more moderate traditional romneyesque type of Republicans who traditionally

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Speaker 1: the more Paul Ryan Ask Republicans. And so Jim Jordan

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Speaker 1: has ascended Freedom Caucus has ascended in in this particular

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Speaker 1: moment with regards to the to the Republicans. No, yeah,

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Speaker 1: it raises the question of what even is the Republican

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Speaker 1: Party in twenty nineteen. I mean, the presidential candidate for

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Speaker 1: the Republicans in is now being derided as a socialist

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Speaker 1: liberal in disguise. And it's seems that Matt Gates and

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Speaker 1: Jim Jordan's and these wing nuts have sort of become

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Speaker 1: the voice and the guiding view of the Republican Party

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Speaker 1: in Congress, not Parson words today. Max, It's it's hard

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Speaker 1: to argue that Matt Gates is debating in good faith

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Speaker 1: when he raids a skiff with a cell phone, violates

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Speaker 1: confidential procedures, put security at risk. To make a point

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Speaker 1: that is this at best completely rendered irrelevant by this,

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Speaker 1: by this impeachment. Vone, What do you mean for Halloween?

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Speaker 1: Tyler Sexy? Abraham Lincoln? Max, what are you being for Halloween? Sexy?

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Speaker 1: Donald Trump? Okay, I'm not going out for Halloween? All right,

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Speaker 1: I'm gonna leave it there. Coming up, we're gonna talk

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Speaker 1: tax policy and the Washington Nationals. Download the Bloomberg sound

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Speaker 1: On podcast on Apple iTunes, at Bloomberg dot com, or

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Speaker 1: by downloading the Bloomberg Business app. You can also find

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Speaker 1: us on Radio dot Com, I Heart Radio, and Spotify.

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Speaker 1: I'm Kevin Surreally, whatever happened if people dressing up as

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Speaker 1: like a mummy. You're listening to Bloomberg Baby Bitter Baby Kevin,

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Speaker 1: You're listening to Bloomberg Sound on. I'm Kevin's really Cheap

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Speaker 1: Washington correspondent from Bloomberg TV, Bloomberg Radio, Baby Sharks, NAT's win.

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Speaker 1: Did you guys see this? Senator Tim Kaine, a Democrat

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Speaker 1: from Virginia, bet with Ted Cruz, the Republican. You know

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Speaker 1: everybody knows Tech CRUs the Republican from Texas over the

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Speaker 1: World series, and now Ted Cruz has to buy booze

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Speaker 1: and barbecue for Tim Kaine's staffs. And he's also got

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Speaker 1: a walk around the Capitol in um in a Natz Jersey. Yeah,

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Speaker 1: South loss for Ted Cruz joining us on the line.

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Speaker 1: Bloomberg tax reporter and Penn State grad Sam McQuillan, Sam,

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Speaker 1: thanks for calling him, Hey, thanks for having so. You've

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Speaker 1: got this great story that I loved when I when

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Speaker 1: I woke up today, Because leave it to a tax

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Speaker 1: policy reporter to find a way to write about the

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Speaker 1: World Series win. Here's the headline. Nationals tax collectors set

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Speaker 1: to score post World Series the Washington Nationals or World

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Speaker 1: Series champions for the first time and for the first

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Speaker 1: time in line two for lofty bonuses subject to a

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Speaker 1: mix of taxes and fees. So, I mean, in order

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Speaker 1: each of the Gnats players, they get four hundred and

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Speaker 1: sixteen thousand dollars for their postseason efforts. Uh, but they're

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Speaker 1: gonna get heavily taxed. Tell us about it. Oh, yeah,

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Speaker 1: they're gonna get heavily taxed. I mean, all the figures

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Speaker 1: are based off of last year's winnings because this one

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Speaker 1: don't get post until December. But it's high estimated that

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Speaker 1: if they live in the district will get about thirty

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Speaker 1: seven thousand dollars, and taxes have to pay on that

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Speaker 1: they live in one of the neighboring states like Virginia

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Speaker 1: and Maryland have to pay almost twenty four thousand. So

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Speaker 1: see this is relatable to driving home on their way

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Speaker 1: home from work. And because there's always that debate do

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Speaker 1: you live in in d C. Do you live in Virginia,

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Speaker 1: do you live in Maryland? Because of the different taxes,

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Speaker 1: I mean, if you if if any of these players

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Speaker 1: live in the district, they're gonna get much heavier tax

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Speaker 1: than if they lived in Virginia. No oh, yeah, certainly. Yeah.

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Speaker 1: DC has much higher income taxes uh than Virginia or Maryland,

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Speaker 1: which I think is well documented in People a little

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Speaker 1: along the Beltway. So you did this. You estimated the

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Speaker 1: bonuses amount based on the two thousand and eighteen bonus pool.

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Speaker 1: So talk to us about how you calculated it. So

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Speaker 1: I used to always joke when I was in high school,

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Speaker 1: because I want to be a journalist, said, oh, this

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Speaker 1: algebra stuff, this pre calculus stuff, like, I hate to

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Speaker 1: know any of this. I hate, Matt. That's why I

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Speaker 1: wanted to writing get out the t I eighty three

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Speaker 1: plus go ahead exactly and lo and behold. I had

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Speaker 1: to bring out my old calculator for this one to

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Speaker 1: do some of some of those skills that I kind

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Speaker 1: of wish I had to high school. But so I

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Speaker 1: started with pretty much. I found the federal income tax,

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Speaker 1: which these guys are millionaires, most of them, so it's

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Speaker 1: going to be in the higher tax bracket, the highest

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Speaker 1: tax bracket. And then I took that money, um, and

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Speaker 1: then I tacked on each state income tax as well.

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Speaker 1: And you know, for players living in Texas and fortunately

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Speaker 1: for them, unfortunately um for me having to do mass

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Speaker 1: they don't have any state income taxes there. So it

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Speaker 1: was easier than I thought it would be, just kind

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Speaker 1: of had to add the two tax things together and

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Speaker 1: then kind of figure out what they're going to get

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Speaker 1: at the end. It really is fascinating and it proves

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Speaker 1: that no matter what, you can find a way to

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Speaker 1: make tax policy applicable to anything. Yeah, there's a tax

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Speaker 1: angle to everything. Our thanks to Bloomberg tax reporter Sam McQuillan,

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Speaker 1: thanks for calling in. Uh, he's still here with us. Uh.

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Speaker 1: Democratic strategist Max Burns, Tyler Deaton, Republican strategists. So where

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Speaker 1: do we go from here in terms of in terms

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Speaker 1: of this, Well, first of all, did you tax any

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Speaker 1: of did you follow any of that? Next? Yeah, I did,

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Speaker 1: And I just feel bad now, I guess for for

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Speaker 1: Bryce Harper, who's got that thirty million dollars to pay

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Speaker 1: taxes on and he still doesn't get a ring. Wow,

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Speaker 1: Well he's a Philadelphia Phillity gets to live in the

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Speaker 1: beautiful city of Brotherly Love. Um. In terms of but seriously,

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Speaker 1: in terms of where we go from here on a

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Speaker 1: policy standpoint, Uh, how does impeachment Tyler impacted the policy

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Speaker 1: the policy debates of Washington, d C. Well, they've slowed

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Speaker 1: down and not evaporated entirely. And I think that that's

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Speaker 1: another criticism that people across the political spectrum have of

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Speaker 1: what's happening. Like, if we all know how the House

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Speaker 1: is going to vote, and we know how the Senate's

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Speaker 1: going to vote, then I don't necessarily mind having this process,

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Speaker 1: but they need to hurry it up because we still

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Speaker 1: don't have a budget, We still don't have a plan

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Speaker 1: to protect dreamers, we don't have a plan to have

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Speaker 1: a trade deal with China, on and on and on.

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Speaker 1: These are things that are really going to matter for

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Speaker 1: the future of our country and our economy. Well, on

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Speaker 1: the issue of U S. M C A. And I

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Speaker 1: was following this and talking to some folks about this

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Speaker 1: earlier today, and if you're just joining us, we're we're

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Speaker 1: pivoting back to the impeachment inquiry. I did a brutal

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Speaker 1: transition there from tax Policy of the World Series two

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Speaker 1: back to the impeachment. So apologies on that regards, uh,

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Speaker 1: But but on the issue of U s m c

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Speaker 1: A and on policy and the impacts that impeachment are

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Speaker 1: having on policy. I've actually heard from folks on both

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Speaker 1: sides of the aisle that U s m c A

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Speaker 1: is going to be that one area where Republicans and

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Speaker 1: Democrats can work together on simply because Republicans want to

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Speaker 1: show that they can get something done even when Democrats

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Speaker 1: are impeaching them, and Democrats want to show that they

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Speaker 1: can get something done even while they are impeaching President Trump.

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Speaker 1: Speaker Pelosi was asked specifically about U. S m c A. Here,

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Speaker 1: she is, we are moving with the U. S. Mexic

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Speaker 1: Who Canada trade agreement, making progress every day. I'm optimistic

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Speaker 1: that we are still want to have to yes and

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Speaker 1: that that we will come to conclusion on that. You

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Speaker 1: have a max. Nancy Pelosi is an optimist. I think.

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Speaker 1: I think realistically the last thing you're gonna see, though,

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Speaker 1: is Democrats in the House for the Senate giving Donald

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Speaker 1: Trump big legislative victories on his core trade issues going

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Speaker 1: into an election year, especially given all of the sort

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Speaker 1: of extra benefits uh and privileges that this impeachment vote

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Speaker 1: is given to Trump's legal team. The show of impeachment

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Speaker 1: is going to consume everything. And if people don't think

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Speaker 1: that's true, they just need to look back at Bill Clinton,

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Speaker 1: Devil's advocate, in the sense that the oxygen in the

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Speaker 1: room is sucked out by impeachment, and that takes off

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Speaker 1: some of the political uh gasoline, so to speak, figuratively

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Speaker 1: on an issue like U m c A. So that

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Speaker 1: because there's no really other room to talk about anything else,

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Speaker 1: so much of the heated nature of of the of

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Speaker 1: the progressive left and yes, even the far right that

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Speaker 1: will be critical of U S m c A, they're

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Speaker 1: not really going to be paying attention as much to it. Yeah,

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Speaker 1: I agree with Look, Democrats can register their opposition to

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Speaker 1: the president by impeaching him. They don't have to oppose

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Speaker 1: a good trade deal to oppose the president. It's interesting

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Speaker 1: and there was actually, I'm going to get real wonky

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Speaker 1: for a second, there was an Export Import Bank hearing

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Speaker 1: today on the House Financial Services Committee, and members of

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Speaker 1: the squad, of which Freshman Congresswoman Alexandria Accacio Cortes is

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Speaker 1: a member of the housemen served and actually Steenny Hoyer

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Speaker 1: showed up to this hearing because Chairwoman Maxine Waters it was.

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Speaker 1: It was getting a little fiery in the sense that

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Speaker 1: there were members of the squad who were continuously attacking

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Speaker 1: the x M Bank, which has the same political support

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Speaker 1: right now that U S m c A does, which

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Speaker 1: means the far left doesn't have. So I'm getting into

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Speaker 1: the weeds. But it shows that on the day of impeachment,

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Speaker 1: XM was able to advance from the House Financial Services

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Speaker 1: Committee because there wasn't a lot of attention on it.

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Speaker 1: I don't know, do you see what I'm trying to

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Speaker 1: do that I understand what you're saying, and I think

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Speaker 1: that it's right. I just think though, we have to

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Speaker 1: have floor time, and right now, the only thing keeping

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Speaker 1: the U S M c A from passing is not

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Speaker 1: the Senate, it's the House and Speaker Pelosi needs to

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Speaker 1: put it up for a vote. When do you think

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Speaker 1: she does that? You know, uh, six weeks ago, we

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Speaker 1: were saying that it probably wouldn't be into laughter Thanksgiving,

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Speaker 1: and I think that that's still the case. I think

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Speaker 1: it's going to be in that mid holiday window. Do

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Speaker 1: you think Max just quickly that there's articles of impeachment

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Speaker 1: that are brought before the end of the year. Do

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Speaker 1: you think we're we're into January. I think they may

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Speaker 1: well move before the end of the year. I think

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Speaker 1: prior to Bill Taylor's testimony that really shook the ground

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Speaker 1: with almost everyone, we were looking at a more protracted

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Speaker 1: fact finding uh part of this investigation. Now we're moving

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Speaker 1: at a pretty quick clip from the from the initial vote. Now, yeah,

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Speaker 1: it's completely possible. All right. Coming up, we're gonna check

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Speaker 1: in with Congressman Denver Riggleman, a Republican from Virginia. He's

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Speaker 1: going to talk to us all about what happened on

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Speaker 1: the Financial Services Committee today as well as obviously with impeachment.

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Speaker 1: And I that was a brutal transition away from the

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Speaker 1: Baby Sharks song to tax policy back into the beach.

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Speaker 1: I thought we were going to r C Stadium. Yeah,

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Speaker 1: I I was like where, so, you know, but you know,

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Speaker 1: I think it was the Nats win that's sort of

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Speaker 1: got me a little just a little un focused. Sorry.

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Speaker 1: Coming up more from Denver Riggelman and the panel. Download

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Speaker 1: the Bloomberg Sound On podcast on Apple iTunes, at Bloomberg

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Speaker 1: dot com, or by downloading the Bloomberg Business App. You

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Speaker 1: can also find us on Radio dot com, I Heart

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Speaker 1: Radio and Spotify. I'm Kevin Cereli, Chief Washington correspondent FRO

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Speaker 1: Bloomberg Television and Bloomberg Radio. You're listening to Bloomberg. You're

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Speaker 1: listening to Bloomberg. Sound On with Kevin Sirel on Bloomberg

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Speaker 1: and I G nine one and one Old five point

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Speaker 1: seven f M H D two. That's a great song too,

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Speaker 1: but I really like the Baby Shark music when we

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Speaker 1: were coming back. I'm Kevin Cereali, Chief Washington correspondent from

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Speaker 1: Bloomberg Television and Bloomberg Radio. What a day, folks, What

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Speaker 1: a day on Capitol Hill. Joining us on the telephone

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Speaker 1: line is Congressman Denver Riggelman, a Republican from Virginia. Congressman,

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Speaker 1: thanks so much for joining us. What did you make

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Speaker 1: of the impeachment inquiry vote? Well, well, I think we

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Speaker 1: pretty I would say we knew what was going to happen.

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Speaker 1: I don't think there was really any surprises on the floor.

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Speaker 1: I think the couple of Democrats that came over was

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Speaker 1: a mild surprise. We thought there was gonna be a

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Speaker 1: few more. We were watching the vote pretty closely um

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Speaker 1: on the monitor down the floor, because we had a

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Speaker 1: feeling we could get half a dozen to tend Democrats

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Speaker 1: that would vote against you in Queer the inquiry, but

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Speaker 1: two dead and we know there were some people were

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Speaker 1: there looking sideways over at It's like, uh, I'm not

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Speaker 1: sure what to do. So that that it wasn't a

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Speaker 1: huge surprise that a couple of Democrats came over, but

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Speaker 1: we thought we might even get more. But it really

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Speaker 1: went how we thought it was gonna go. So what's

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Speaker 1: next in the process, because it's just in covering this congressman,

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Speaker 1: I still don't really know what you all voted on.

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Speaker 1: I mean, I get it. It's it's it's there's gonna

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Speaker 1: be public hearings now. But we have always knew that, well,

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Speaker 1: you know, he here's the thing, yes, you know you

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Speaker 1: know my background can we talked before before. I'm an

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Speaker 1: intelligence officer and I find it. I found it amazing

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Speaker 1: and it's and and for people that are listening, I

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Speaker 1: hope they get what I'm trying to say here, and

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Speaker 1: and I'm gonna say it in a different way and

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Speaker 1: probably not a different way. But I, as an intelligence officer,

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Speaker 1: know how this works. I know that there's the reason

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Speaker 1: that the Hipsie is doing this in the Intelligence Committee.

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Speaker 1: They got some problems with transfer of classified information that

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Speaker 1: they're afraid to come out because people broke the law

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Speaker 1: in here. We're gonna find out the reason that the

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Speaker 1: reason they had to vote on this today was to

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Speaker 1: sort of acknowledge the fact that they've been doing it

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Speaker 1: for thirty eight days. But it also is incredible we

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Speaker 1: were voting on an impeachment inquiry where I, as an

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Speaker 1: intelligence officer twenty six years will combined military intelliger experience,

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Speaker 1: have not I have not been allowed to read one

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Speaker 1: word of any transcript um. The only thing I've seen

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Speaker 1: the same thing as the American public. I have seen

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Speaker 1: the whistleblower report, the IG report, and the COPT transcript.

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Speaker 1: That's it, and that's pretty amazing. It's people should be

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Speaker 1: a little bit shocked, and the American people should demand

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Speaker 1: the release of everything right now. Transparency always, So you're

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Speaker 1: joining us on the line. As Congressman Denver Riggleman a

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Speaker 1: Republican from Virginia. He worked as a contractor for the

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Speaker 1: National Security Security Agency. He also served in the United

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Speaker 1: States Air Force uh and he was an intelligence where

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Speaker 1: he was also an intelligence officer overseas. So as this

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Speaker 1: moves forward. Congressman, do you have any concerns about what

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Speaker 1: went on with regards to the administrations communications with Ukraine?

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Speaker 1: And is that separate from concerns that you might have

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Speaker 1: or don't have with President Trump himself? Did you understand

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Speaker 1: that what I'm trying to get out with that question?

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Speaker 1: Did Yeah? From the transcript, I read no, And so

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Speaker 1: what I did. I like to do research on past congresses,

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Speaker 1: So we went back to one thirteen, the one fifteen conners. Kevin,

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Speaker 1: I know me and you've had some incredible conversations about

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Speaker 1: just research and intons work. But we found free resolutions,

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Speaker 1: non minding resolutions, bipartisan that said more or less and

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Speaker 1: and I would love to get those numbers for you.

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Speaker 1: I'm driving right now, but that said more or less

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Speaker 1: that you're creating assistance was dependent on them fighting corruption.

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Speaker 1: So I'm having a tough time right now looking at that. Right. Um,

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Speaker 1: So this is why I'm want to be bringing out

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Speaker 1: here soon. I've also been doing a lot of research

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Speaker 1: on eighteen uh US Code eighteen USC Section, which is

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Speaker 1: the uh Just Disclosure of Classified Information to an Authorized

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Speaker 1: Person's Act, which is what I lived under my whole life.

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Speaker 1: So in the constance career field. So there's a lot

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Speaker 1: of things. I think that they're afraid that that they're

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Speaker 1: afraid of the Democrats based on what we have out there.

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Speaker 1: But the fact that President Obama can lean over to

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Speaker 1: Medvedev and said, hey, you know we can have once

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Speaker 1: I'm reelected, things can go a lot better. Um. There's

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Speaker 1: always been this sort of push from the executive to

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Speaker 1: fight corruption, regardless of who the entity or the organization is.

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Speaker 1: So from what I've read, it's really hard. Hasn't been

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Speaker 1: tough this officer to say there was any real wrongdoing there,

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Speaker 1: And that's why again it's a head scratcher for a

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Speaker 1: lot of the people on the floor today. I've got

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Speaker 1: to ask you one question about Financial Services Committee because

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Speaker 1: you know, I'm a nerd and you guys had an extent,

428
00:23:28,080 --> 00:23:31,480
Speaker 1: you guys had an exit. I was literally covering. I

429
00:23:31,520 --> 00:23:35,399
Speaker 1: was covering the impeachment inquiry all day, but I dipped

430
00:23:35,440 --> 00:23:38,520
Speaker 1: in past the House Financial Services Committee because you guys

431
00:23:38,560 --> 00:23:42,880
Speaker 1: had the Export Import Bank reauthorization and it got fiery.

432
00:23:42,920 --> 00:23:48,000
Speaker 1: I mean, steady right, right, So tell me about what happened.

433
00:23:48,040 --> 00:23:52,200
Speaker 1: And then also Steady Hoyer showing up. So today Steady

434
00:23:52,240 --> 00:23:53,919
Speaker 1: Horrier showed up. I don't know if it was because

435
00:23:54,280 --> 00:23:57,080
Speaker 1: Katie Porter decided to dress up as batwoman. I don't

436
00:23:57,080 --> 00:23:59,960
Speaker 1: know what was going on there. It is I don't

437
00:24:00,040 --> 00:24:04,000
Speaker 1: get keep going, keep going, so um, but stead he

438
00:24:04,080 --> 00:24:06,760
Speaker 1: came in there. Today. We knew the vote. You know,

439
00:24:06,840 --> 00:24:09,160
Speaker 1: it was gonna be a little bit contentious because yesterday,

440
00:24:09,720 --> 00:24:12,840
Speaker 1: you know, I dropped a bomb in there, um on

441
00:24:12,960 --> 00:24:15,840
Speaker 1: a on a perfecting amendment to make sure that we

442
00:24:15,920 --> 00:24:19,000
Speaker 1: got the original x M bill to a vote, because

443
00:24:19,000 --> 00:24:20,960
Speaker 1: you know, there was some renegging going on by the

444
00:24:21,000 --> 00:24:24,800
Speaker 1: Democrats after the original bipartisan transparency we had on Chinese

445
00:24:24,800 --> 00:24:27,919
Speaker 1: state owned enterprises and emerging technologies, and that was a

446
00:24:27,920 --> 00:24:30,240
Speaker 1: lot of my stuff in there by the way that

447
00:24:30,320 --> 00:24:33,639
Speaker 1: they took out. So um, obviously I voted against it

448
00:24:33,720 --> 00:24:37,080
Speaker 1: because uh I was I got pretty angry about um,

449
00:24:37,200 --> 00:24:38,639
Speaker 1: some of the things that were being said, and it

450
00:24:38,680 --> 00:24:41,760
Speaker 1: looked like that some of the larger companies had convinced

451
00:24:41,760 --> 00:24:46,400
Speaker 1: the Democrats that any enhanced look or transparency towards doing

452
00:24:46,480 --> 00:24:49,440
Speaker 1: business with Chinese state owned industries was a bad thing.

453
00:24:49,520 --> 00:24:51,679
Speaker 1: And and I've been doing this, you know, buddy, you know,

454
00:24:51,720 --> 00:24:54,600
Speaker 1: I was a senior consultant for electronic warfare encountermeasures at

455
00:24:54,600 --> 00:24:57,360
Speaker 1: the Pentagon the day before I was elected to Congress.

456
00:24:57,400 --> 00:25:00,280
Speaker 1: This is my first elected office, so my expert tease

457
00:25:00,400 --> 00:25:05,280
Speaker 1: with Chinese technologies and also how they utilize their defenses

458
00:25:05,480 --> 00:25:08,159
Speaker 1: and how they I don't know how far I can

459
00:25:08,200 --> 00:25:12,199
Speaker 1: go here, but how they interconnect UH their defenses and

460
00:25:12,240 --> 00:25:16,119
Speaker 1: how they use their UH credit agencies to sort of

461
00:25:16,160 --> 00:25:19,120
Speaker 1: bludge in other countries. And so I I just had

462
00:25:19,160 --> 00:25:21,840
Speaker 1: to I had to drop I guess I had to

463
00:25:21,920 --> 00:25:23,880
Speaker 1: drop a bomb on them. And then it got very

464
00:25:23,920 --> 00:25:27,800
Speaker 1: contentious with Maxine, but we made up a couple hours later,

465
00:25:28,280 --> 00:25:32,320
Speaker 1: so quite rough. It was quite rough on them because

466
00:25:32,480 --> 00:25:34,679
Speaker 1: if I go technical on them, they really can't answer

467
00:25:34,720 --> 00:25:39,240
Speaker 1: to me. So and then and then showed up, Oh yes,

468
00:25:39,280 --> 00:25:41,880
Speaker 1: Dey Howyer showed up today, which was were like, well

469
00:25:42,080 --> 00:25:44,720
Speaker 1: with this security and like what is going on here?

470
00:25:44,760 --> 00:25:47,800
Speaker 1: But again I didn't notice because people were inappropriately addressed

471
00:25:47,800 --> 00:25:51,600
Speaker 1: in batwoman costumes because obviously actually addressed as the hulk um.

472
00:25:51,720 --> 00:25:54,119
Speaker 1: And then we had, you know, then we had all

473
00:25:54,160 --> 00:25:55,840
Speaker 1: kinds of people being pulled out, I know, but they

474
00:25:55,840 --> 00:25:58,119
Speaker 1: were whipping votes for the impeachment vote or whatnot. But

475
00:25:58,440 --> 00:26:01,119
Speaker 1: there's a lot of chaos and financial services. It was

476
00:26:01,200 --> 00:26:03,679
Speaker 1: crazy and no one governed it because it was the

477
00:26:03,720 --> 00:26:08,960
Speaker 1: impeachment Poe. But it was a wild day. Well Maxie

478
00:26:09,000 --> 00:26:11,480
Speaker 1: Water started pounding her gabble. Instead of saying recess, she

479
00:26:11,520 --> 00:26:15,840
Speaker 1: was saying adjourned. And everybody's like what it was? It was.

480
00:26:16,080 --> 00:26:19,040
Speaker 1: It was a wild scene if anybody. And by the way,

481
00:26:19,080 --> 00:26:21,320
Speaker 1: when the camera went off after a journey, it was

482
00:26:21,359 --> 00:26:23,800
Speaker 1: thirty minutes after that was even wilder if people were

483
00:26:23,840 --> 00:26:26,480
Speaker 1: in the committee room telling you quite the day. The

484
00:26:26,680 --> 00:26:28,720
Speaker 1: X and Mek I've said it now for eight years.

485
00:26:28,720 --> 00:26:31,200
Speaker 1: In this town is where all of the drama lies

486
00:26:31,320 --> 00:26:33,760
Speaker 1: in Washington, d C. Final questions. You watch the game

487
00:26:33,840 --> 00:26:37,480
Speaker 1: last night? Will you be going to the parade on Saturday? Oh?

488
00:26:37,520 --> 00:26:39,080
Speaker 1: So I won't be going to the break because Vice

489
00:26:39,080 --> 00:26:42,600
Speaker 1: President Pence is coming to my district. So yeah, we're

490
00:26:42,600 --> 00:26:45,000
Speaker 1: talking U s m c A down here, and um

491
00:26:45,040 --> 00:26:47,840
Speaker 1: I'm his host. But I did. I knew the game

492
00:26:47,920 --> 00:26:49,600
Speaker 1: was over, and I know that people are gonna say, oh,

493
00:26:49,640 --> 00:26:52,400
Speaker 1: you're rationalizing, But when Ren don't hit that hole and run,

494
00:26:52,440 --> 00:26:55,600
Speaker 1: it looked like the Astros deflated and uh when it

495
00:26:55,640 --> 00:26:57,320
Speaker 1: went tow to one and I looked at my wife.

496
00:26:57,560 --> 00:26:59,960
Speaker 1: I just gotten back from a dinner, the Daily Collner dinner,

497
00:27:00,040 --> 00:27:02,040
Speaker 1: and I looked at my wife, I said, listen, I

498
00:27:02,080 --> 00:27:04,000
Speaker 1: think I think the Nats you're gonna win this, and

499
00:27:04,560 --> 00:27:07,000
Speaker 1: and by goodness, they did, and I was pretty excited

500
00:27:07,000 --> 00:27:09,320
Speaker 1: about it. Well, it's a rough day for Senator Ted Cruise,

501
00:27:09,720 --> 00:27:12,560
Speaker 1: rough day for Senator to Cruise. You're that's okay, You'll

502
00:27:12,560 --> 00:27:15,720
Speaker 1: get over all right. Tell the Vice President to give

503
00:27:15,720 --> 00:27:19,360
Speaker 1: me an interview. Thank you. Congressman Denver Riggleman, a Republican

504
00:27:19,760 --> 00:27:23,760
Speaker 1: from Virginia. Coming up. What's on the Panel's Radar. I'm

505
00:27:23,840 --> 00:27:28,160
Speaker 1: Kevin Cereli, chief Washington correspondent for Bloomberg Television and Bloomberg Radio.

506
00:27:28,200 --> 00:27:36,640
Speaker 1: You're listening to Bloomberg. This is Bloomberg Sound On with

507
00:27:36,720 --> 00:27:41,160
Speaker 1: Kevin Surreley on Bloomberg and one oh five points seven

508
00:27:41,240 --> 00:27:44,919
Speaker 1: f M h D two. I'm Kevin Cirelli, chief Washington

509
00:27:44,920 --> 00:27:48,960
Speaker 1: correspondent for Bloomberg Television and Bloomberg Radio. Busy day. We

510
00:27:49,040 --> 00:27:52,160
Speaker 1: talked about impeachment, we checked in with Congressman Denver Riggleman,

511
00:27:52,280 --> 00:27:55,240
Speaker 1: we talked about the Gnats. But now it's time for

512
00:27:55,320 --> 00:27:58,359
Speaker 1: what's on the Panel's Radar. Max Burns. Democratic strategist Tyler

513
00:27:58,440 --> 00:28:02,760
Speaker 1: Deaton Republicans to just, uh, I mean, ask you what's

514
00:28:02,800 --> 00:28:05,160
Speaker 1: on your radar? And Tyler, what do you think? First

515
00:28:05,160 --> 00:28:08,600
Speaker 1: of all, Congressman Denver Riggleman gosh, I love he's one

516
00:28:08,640 --> 00:28:12,640
Speaker 1: of my He's one of my favorite Republicans in the House.

517
00:28:13,359 --> 00:28:16,399
Speaker 1: I think that, Look, you heard him talking about his career,

518
00:28:16,440 --> 00:28:18,359
Speaker 1: and I love that he had a career before becoming

519
00:28:18,400 --> 00:28:21,159
Speaker 1: a politician, like a real career, like a real career,

520
00:28:21,280 --> 00:28:24,159
Speaker 1: like an American career. He's protected our country. I love it.

521
00:28:24,200 --> 00:28:25,879
Speaker 1: And I think that when he talks about these issues,

522
00:28:25,880 --> 00:28:27,720
Speaker 1: he knows what he's talking about. But but he talks

523
00:28:27,720 --> 00:28:31,160
Speaker 1: in a way that's very it's it's very conversational, which

524
00:28:31,200 --> 00:28:33,800
Speaker 1: is is missing from a lot of I don't want

525
00:28:33,800 --> 00:28:36,760
Speaker 1: to get a lot of people with his background don't

526
00:28:36,880 --> 00:28:43,080
Speaker 1: talk in that authentic what you trying to say? Yeah,

527
00:28:43,120 --> 00:28:44,960
Speaker 1: he really doesn't come across like a politician at all.

528
00:28:45,040 --> 00:28:48,000
Speaker 1: All right, what's under radar? Twelve days from now, the

529
00:28:48,040 --> 00:28:51,320
Speaker 1: Supreme Court is going to hear oral arguments on what

530
00:28:51,400 --> 00:28:53,080
Speaker 1: I think is going to be one of the most

531
00:28:53,120 --> 00:28:56,520
Speaker 1: politically important cases of this term. They granted review on

532
00:28:56,520 --> 00:29:00,240
Speaker 1: a case surrounding the DACCA program, which was created seven

533
00:29:00,320 --> 00:29:03,200
Speaker 1: years ago by President Obama to protect people who you

534
00:29:03,200 --> 00:29:06,880
Speaker 1: would usually know as dreamers. It's young immigrants who came

535
00:29:06,920 --> 00:29:09,880
Speaker 1: to this country as children. And the doctor program has

536
00:29:09,880 --> 00:29:13,400
Speaker 1: been working very successfully. But the concern is that President

537
00:29:13,400 --> 00:29:16,680
Speaker 1: Trump ended the program administratively. There are still nearly seven

538
00:29:16,720 --> 00:29:20,959
Speaker 1: hundred thousand people who have data, and if the Supreme

539
00:29:21,000 --> 00:29:24,520
Speaker 1: Court decides that the President can end the program, then

540
00:29:24,600 --> 00:29:26,840
Speaker 1: by next spring you could have those same seven hundred

541
00:29:26,840 --> 00:29:30,440
Speaker 1: thousand people facing deportation. And I think this is a

542
00:29:30,440 --> 00:29:33,400
Speaker 1: looming political crisis that Democrats and Republicans aren't ready for

543
00:29:33,440 --> 00:29:36,000
Speaker 1: the consequences of the Supreme Court decision. So if the

544
00:29:36,120 --> 00:29:39,400
Speaker 1: oral arguments look like the conservative majority on the Court

545
00:29:39,480 --> 00:29:41,640
Speaker 1: is going to side with the administration, then I think

546
00:29:41,640 --> 00:29:44,240
Speaker 1: that Republicans in Congress need to start thinking about what

547
00:29:44,280 --> 00:29:49,160
Speaker 1: that means for them politically. It's a good one, docca alright, Max.

548
00:29:49,200 --> 00:29:54,800
Speaker 1: What's on your radar? Yesterday? Jack Dorsey Twitter that Twitter

549
00:29:54,960 --> 00:29:58,600
Speaker 1: is getting out of the political advertising game globally, not

550
00:29:58,720 --> 00:30:01,400
Speaker 1: just candidates, but is us as well, And he made

551
00:30:01,400 --> 00:30:07,240
Speaker 1: a really clear and and coherent ethical argument for attempts

552
00:30:07,280 --> 00:30:10,160
Speaker 1: that they've made to regulate this, to make it safe.

553
00:30:10,200 --> 00:30:13,480
Speaker 1: They said, it's just not possible to do and and

554
00:30:13,520 --> 00:30:16,600
Speaker 1: they lead with a swipe at Facebook for continuing to

555
00:30:16,720 --> 00:30:19,800
Speaker 1: do this. And I'm curious how now that Facebook is

556
00:30:19,880 --> 00:30:26,640
Speaker 1: essentially standing alone on this increasingly controversial ad campaign and

557
00:30:26,840 --> 00:30:30,880
Speaker 1: political spending, which doesn't represent that much money for Facebook.

558
00:30:30,920 --> 00:30:34,120
Speaker 1: It really is just about engaging with with ads and

559
00:30:34,160 --> 00:30:38,760
Speaker 1: controlling content. How Facebook is going to justify to an

560
00:30:38,760 --> 00:30:44,320
Speaker 1: increasingly skeptical Congress, both parties in Congress to boot that

561
00:30:44,520 --> 00:30:48,520
Speaker 1: what they're doing is justifiable. Caryl Samberg, Facebook schirl. Samberg

562
00:30:48,600 --> 00:30:53,680
Speaker 1: spoke exclusively to Bloomberg Television my colleagues of Bloomberg Television

563
00:30:54,640 --> 00:30:58,240
Speaker 1: earlier about this specifically and about whether or not Facebook

564
00:30:58,240 --> 00:31:01,480
Speaker 1: will get out of the political advertising take list to

565
00:31:01,520 --> 00:31:04,040
Speaker 1: what she said, We're not doing it because of the money.

566
00:31:04,080 --> 00:31:06,560
Speaker 1: This is less than one percent of our revenue, and

567
00:31:06,600 --> 00:31:09,360
Speaker 1: the revenue is not worth the controversy. But what Mark

568
00:31:09,400 --> 00:31:12,480
Speaker 1: said is that we believe in free expression, we believe

569
00:31:12,480 --> 00:31:14,920
Speaker 1: in political speech, and ads can be an important part

570
00:31:14,920 --> 00:31:18,800
Speaker 1: of that. So do you think Mark Zuckerberg and Facebook

571
00:31:18,800 --> 00:31:21,239
Speaker 1: can continue to tow that line. I think it's going

572
00:31:21,280 --> 00:31:23,920
Speaker 1: to get harder and harder. I think you saw with

573
00:31:24,040 --> 00:31:27,080
Speaker 1: the testimony on the Hill just recently that there's a

574
00:31:27,120 --> 00:31:32,280
Speaker 1: lot of skepticism about this altruistic vision that Cheryl Sandberg

575
00:31:32,320 --> 00:31:36,720
Speaker 1: and Mark Zuckerbergberg put forward, uh and especially this idea

576
00:31:36,920 --> 00:31:40,480
Speaker 1: that you can pay for political speech. One of the

577
00:31:40,520 --> 00:31:43,840
Speaker 1: core parts of Dorsey's argument was that the value of

578
00:31:43,840 --> 00:31:47,680
Speaker 1: political speech is that you earn viewers and you earn

579
00:31:47,680 --> 00:31:50,479
Speaker 1: engagement based on the strength of your ideas. And if

580
00:31:50,480 --> 00:31:53,479
Speaker 1: you're allowed to just pay money to put an idea

581
00:31:53,560 --> 00:31:56,320
Speaker 1: in front of someone, whether it's true or not, that

582
00:31:56,400 --> 00:32:00,040
Speaker 1: really undermines the entire idea of having to engage in

583
00:32:00,080 --> 00:32:04,240
Speaker 1: a persuasive dialogue with people. And Facebook so far has

584
00:32:04,320 --> 00:32:08,080
Speaker 1: not been able to put forward a convincing argument for why,

585
00:32:08,200 --> 00:32:10,960
Speaker 1: in the face of all of this concern and all

586
00:32:11,000 --> 00:32:14,520
Speaker 1: of these scandals, it's pressing forward and even doubling down

587
00:32:14,960 --> 00:32:19,800
Speaker 1: into that's a really truthfully, is all right? What's all

588
00:32:19,880 --> 00:32:23,840
Speaker 1: my radar? Trade? Trade policy? If you gotta cover it,

589
00:32:24,160 --> 00:32:28,880
Speaker 1: gotta just catch folks up to speed quickly. Two trade fronts,

590
00:32:28,920 --> 00:32:31,280
Speaker 1: not just the U S and China, but the US

591
00:32:31,960 --> 00:32:35,280
Speaker 1: and Britain, the UK. Trump has warned Johnson that his

592
00:32:35,400 --> 00:32:40,120
Speaker 1: BREGSIT deal makes the US trade deal hard. President Trump

593
00:32:40,200 --> 00:32:43,160
Speaker 1: says the Boris Johnson's Bregsit deal will make it difficult

594
00:32:43,200 --> 00:32:45,560
Speaker 1: for the British Prime minister to strike a trade deal

595
00:32:45,600 --> 00:32:49,800
Speaker 1: with the US after the UK leaves the European Union.

596
00:32:50,280 --> 00:32:52,760
Speaker 1: That's from my colleague Thomas Spending on the Bloomberg terminal,

597
00:32:52,880 --> 00:32:55,600
Speaker 1: which really, folks, just goes to show you that President

598
00:32:55,600 --> 00:32:59,840
Speaker 1: Trump just injected a lot of uncertainty into the U

599
00:32:59,880 --> 00:33:01,640
Speaker 1: s UK trade deal and then the big one right,

600
00:33:01,760 --> 00:33:05,240
Speaker 1: US and China, China. Reportedly, my colleagues have on Bloomberg

601
00:33:05,280 --> 00:33:07,800
Speaker 1: have been just all over this story. Uh, and ahead

602
00:33:07,800 --> 00:33:11,840
Speaker 1: of everyone else. Uh. They've they're reporting that that the

603
00:33:11,960 --> 00:33:15,080
Speaker 1: Chinese are casting doubt on a long term trade deal,

604
00:33:15,160 --> 00:33:18,160
Speaker 1: whether or not that's possible with President Trump. I'll say

605
00:33:18,200 --> 00:33:20,040
Speaker 1: this when I talk to lawmakers up on the hill.

606
00:33:20,280 --> 00:33:22,520
Speaker 1: They they've been saying that for a while. They actually

607
00:33:22,600 --> 00:33:26,080
Speaker 1: feel that from a national security standpoint, there is more

608
00:33:26,120 --> 00:33:30,120
Speaker 1: consensus that has been built by Dems and ours on

609
00:33:30,160 --> 00:33:32,360
Speaker 1: this issue and that they're playing a long game and

610
00:33:32,440 --> 00:33:36,560
Speaker 1: President she is underestimating the long game and unity that

611
00:33:36,600 --> 00:33:40,280
Speaker 1: there is on national security. Happy Halloween, folks, go nets

612
00:33:40,320 --> 00:33:43,560
Speaker 1: awesome win thanks to the panel, thanks to Congressman Denver Riggleman.

613
00:33:43,760 --> 00:33:46,560
Speaker 1: Don't dress up as anything that will get you fired tonight. Please,

614
00:33:46,640 --> 00:33:48,840
Speaker 1: I say it again, don't dress up as anything that

615
00:33:48,880 --> 00:33:51,360
Speaker 1: will get you fired. I'm Kevin Cirelli, Chief watching a

616
00:33:51,400 --> 00:33:53,960
Speaker 1: correspondent from Bloomberg TV and Radio. You're listening to Bloomberg