1 00:00:02,840 --> 00:00:05,440 Speaker 1: Jason Smith of Missouri, as chairman of the House Ways 2 00:00:05,480 --> 00:00:08,440 Speaker 1: and Means Committee, which was responsible for drafting tax legislation, 3 00:00:08,640 --> 00:00:10,639 Speaker 1: had a chance to ask him how the new tax 4 00:00:10,720 --> 00:00:13,560 Speaker 1: legislation is going to change the way the economy operates. 5 00:00:13,800 --> 00:00:17,880 Speaker 1: Let's talk about the overall bill itself. Now, the bill 6 00:00:17,920 --> 00:00:20,720 Speaker 1: has passed the House Ways and Means Committee. Now you 7 00:00:20,800 --> 00:00:23,119 Speaker 1: need to get a rule from the Rules Committee, and 8 00:00:23,160 --> 00:00:24,360 Speaker 1: then you take it to the floor. 9 00:00:24,800 --> 00:00:25,840 Speaker 2: Is that the way it works? 10 00:00:26,360 --> 00:00:27,200 Speaker 3: Pretty close to that. 11 00:00:27,560 --> 00:00:31,159 Speaker 4: Since we're using the rules of reconciliation, which is a 12 00:00:31,200 --> 00:00:33,520 Speaker 4: tool to help the Senate get the fifty one votes 13 00:00:34,520 --> 00:00:38,040 Speaker 4: to pass pass any legislation, there's certain parameters that we 14 00:00:38,080 --> 00:00:41,159 Speaker 4: have to fall under. We had to pass the Budget resolution. 15 00:00:41,320 --> 00:00:43,920 Speaker 4: The Budget Resolution was passed by both the House and 16 00:00:43,960 --> 00:00:47,240 Speaker 4: the Senate, and it gave us specific instructions. And within 17 00:00:47,280 --> 00:00:52,280 Speaker 4: that budget resolution, it instructed eleven different committees in the 18 00:00:52,320 --> 00:00:55,680 Speaker 4: House of Representatives. Ten of the eleven have marked up. 19 00:00:55,800 --> 00:01:00,960 Speaker 4: The last one is finishing up right now, the ad Committee, 20 00:00:59,520 --> 00:01:04,360 Speaker 4: And once all eleven are done their bills that they 21 00:01:04,440 --> 00:01:07,080 Speaker 4: marked up, it goes to the Budget Committee. 22 00:01:07,120 --> 00:01:08,920 Speaker 1: So let's talk about how we got to where we 23 00:01:08,959 --> 00:01:11,600 Speaker 1: are today in coming up with the bill that you 24 00:01:11,720 --> 00:01:14,759 Speaker 1: have passed through the committee. Did you meet with the Treasury, 25 00:01:15,720 --> 00:01:19,240 Speaker 1: with the Senate Finance Committee people, and the President from 26 00:01:19,240 --> 00:01:21,039 Speaker 1: time to time? And how regularly did you meet with 27 00:01:21,120 --> 00:01:21,600 Speaker 1: these people? 28 00:01:22,280 --> 00:01:25,120 Speaker 4: So we had the Big Six meetings, which was referred 29 00:01:25,160 --> 00:01:28,200 Speaker 4: to as the Speaker of the House, the Leader of 30 00:01:28,200 --> 00:01:31,600 Speaker 4: the Senate, so mister Thune, also Chairman Crapo of the 31 00:01:31,640 --> 00:01:37,720 Speaker 4: Finance Committee, myself, It had Kevin Hassett economic advisor, and 32 00:01:37,760 --> 00:01:41,160 Speaker 4: then also the Treasury Secretary of Besson, and so the 33 00:01:41,240 --> 00:01:46,240 Speaker 4: six of us met quite often. Typically it's about every 34 00:01:46,240 --> 00:01:48,640 Speaker 4: week to two weeks, and we've been doing that for 35 00:01:48,840 --> 00:01:52,160 Speaker 4: several months right now, discussing different tax provisions. But in 36 00:01:52,200 --> 00:01:56,520 Speaker 4: regards to my counterpart over on the Senate side, Chairman Crepo, 37 00:01:57,080 --> 00:02:02,000 Speaker 4: we talk, our teams communicate NonStop, and we've been working 38 00:02:02,080 --> 00:02:03,160 Speaker 4: pretty well hand in glove. 39 00:02:03,240 --> 00:02:05,400 Speaker 1: President get involved too. Did you meeting the President in 40 00:02:05,440 --> 00:02:07,680 Speaker 1: the Oval office talk about the bill or how often 41 00:02:07,680 --> 00:02:08,160 Speaker 1: did that happen? 42 00:02:08,280 --> 00:02:08,640 Speaker 3: I do. 43 00:02:08,880 --> 00:02:13,680 Speaker 4: Our President is very accessible and he calls me when 44 00:02:13,680 --> 00:02:16,040 Speaker 4: he wants to talk tax or trade or some other 45 00:02:16,120 --> 00:02:21,359 Speaker 4: items that's within our committee's jurisdiction, and so I've met 46 00:02:21,360 --> 00:02:24,640 Speaker 4: with him several times. On this on this tax bill. 47 00:02:25,120 --> 00:02:27,880 Speaker 4: Twice in the last two weeks in the Oval office. 48 00:02:27,960 --> 00:02:32,120 Speaker 4: I shared with him the main priorities that he asked 49 00:02:32,200 --> 00:02:35,000 Speaker 4: us to deliver on, and what I could deliver on 50 00:02:35,040 --> 00:02:36,600 Speaker 4: and what I couldn't deliver on. 51 00:02:37,000 --> 00:02:38,639 Speaker 2: Okay, so let's go through some of those. 52 00:02:38,720 --> 00:02:41,680 Speaker 1: So the main thing that he wanted, I thought, was 53 00:02:41,720 --> 00:02:44,960 Speaker 1: to get the tax cuts that we'd had before extended 54 00:02:45,040 --> 00:02:49,440 Speaker 1: for corporations and for individuals, so individuals will have their 55 00:02:49,520 --> 00:02:53,160 Speaker 1: tax rate be the same as it's currently Is that right. 56 00:02:52,960 --> 00:02:53,839 Speaker 3: That's exactly right. 57 00:02:54,440 --> 00:02:58,120 Speaker 4: The first thing in his first priority was permanency of 58 00:02:58,160 --> 00:03:02,320 Speaker 4: his expiring two thousand and seven tax cuts, and some 59 00:03:02,400 --> 00:03:05,000 Speaker 4: of the main items that we're expiring was all the 60 00:03:05,040 --> 00:03:09,320 Speaker 4: individual rates would go up. This makes the current rates 61 00:03:09,360 --> 00:03:12,960 Speaker 4: that you're paying taxes right now will stay the current rates, 62 00:03:13,040 --> 00:03:16,800 Speaker 4: regardless of what tax bracket that you're in. The child 63 00:03:16,919 --> 00:03:20,560 Speaker 4: tax credit was going to be slashed in half. It 64 00:03:20,600 --> 00:03:23,120 Speaker 4: would have went from two thousand to one thousand. We 65 00:03:23,200 --> 00:03:26,800 Speaker 4: made permanent the two thousand dollars child tax credit, the 66 00:03:26,840 --> 00:03:30,200 Speaker 4: guaranteed deduction, which ninety one percent of Americans used to 67 00:03:30,240 --> 00:03:34,920 Speaker 4: file their taxes, that got doubled in twenty seventeen. It's 68 00:03:35,000 --> 00:03:38,440 Speaker 4: roughly fifteen thousand dollars per person right now, and we 69 00:03:38,520 --> 00:03:40,119 Speaker 4: made that permanent as well. 70 00:03:40,240 --> 00:03:42,800 Speaker 1: So let's talk about things that President was famous for 71 00:03:43,040 --> 00:03:47,520 Speaker 1: morning and the bill No tax on tips. Is that 72 00:03:47,560 --> 00:03:49,960 Speaker 1: because people getting tips or paying a lot of taxes. 73 00:03:50,080 --> 00:03:52,640 Speaker 4: The idea of the no tax on tips to the 74 00:03:52,680 --> 00:03:55,880 Speaker 4: President was he was actually having dinner at one of 75 00:03:55,920 --> 00:04:02,320 Speaker 4: his properties in Nevada during the campaign and the waitress said, 76 00:04:02,600 --> 00:04:06,240 Speaker 4: can you not tax my tips? And that's where the 77 00:04:06,280 --> 00:04:10,240 Speaker 4: idea came from from a waitress in Nevada to the President. 78 00:04:10,800 --> 00:04:14,160 Speaker 3: And so what you know, what we've. 79 00:04:13,920 --> 00:04:17,320 Speaker 4: Done within this bill is to eliminate the tax on 80 00:04:17,360 --> 00:04:18,200 Speaker 4: tips altogether. 81 00:04:18,360 --> 00:04:21,520 Speaker 1: What about no tax on overtime? What if you take 82 00:04:21,600 --> 00:04:22,000 Speaker 1: care of that? 83 00:04:22,720 --> 00:04:23,120 Speaker 3: We did. 84 00:04:23,560 --> 00:04:27,159 Speaker 4: We eliminated no tax on overtime. It affects about eighty 85 00:04:27,200 --> 00:04:33,600 Speaker 4: million workers across the country. And we put special guidelines 86 00:04:33,640 --> 00:04:37,160 Speaker 4: both in no Tax on tips and overtime that it 87 00:04:37,560 --> 00:04:42,480 Speaker 4: can't be high compensated employees. For example, by definition within statute, 88 00:04:42,480 --> 00:04:44,840 Speaker 4: a high compensated employee as someone who makes more than 89 00:04:44,839 --> 00:04:46,880 Speaker 4: one hundred and sixty thousand dollars a year. 90 00:04:47,000 --> 00:04:47,680 Speaker 2: What about now? 91 00:04:47,720 --> 00:04:50,440 Speaker 1: President also talked about no tax on Social Security what 92 00:04:50,520 --> 00:04:51,000 Speaker 1: about that. 93 00:04:51,680 --> 00:04:56,760 Speaker 4: So within the rules of reconciliation, by statute, you cannot 94 00:04:56,800 --> 00:04:59,960 Speaker 4: touch social Security, and so we wanted to make sure 95 00:05:00,160 --> 00:05:04,039 Speaker 4: we delivered on this priority in reconciliation. And if you 96 00:05:04,080 --> 00:05:07,720 Speaker 4: want to know about the Social Security tax in like 97 00:05:07,839 --> 00:05:11,320 Speaker 4: nineteen eighty one, it was created that you were tax 98 00:05:11,360 --> 00:05:14,440 Speaker 4: free off your first twenty five thousand dollars for an 99 00:05:14,480 --> 00:05:18,680 Speaker 4: individual or thirty two thousand for a married couple, and 100 00:05:18,720 --> 00:05:23,440 Speaker 4: that hasn't changed in forty three, forty four years. And 101 00:05:23,520 --> 00:05:27,520 Speaker 4: so there is an item within the tax code that 102 00:05:27,640 --> 00:05:32,480 Speaker 4: you get an added standard deduction if you're a senior, 103 00:05:32,520 --> 00:05:34,960 Speaker 4: if you're sixty five years old or older. It's currently 104 00:05:35,000 --> 00:05:37,840 Speaker 4: about two thousand dollars that could be added on top 105 00:05:37,880 --> 00:05:42,080 Speaker 4: of your guaranteed deduction, and so we've increased that four 106 00:05:42,120 --> 00:05:46,359 Speaker 4: thousand dollars per person so that their deduction would be 107 00:05:46,560 --> 00:05:52,280 Speaker 4: six thousand. And that equates to anyone who makes less 108 00:05:52,320 --> 00:05:55,640 Speaker 4: than seventy five thousand dollars per person, so seventy five 109 00:05:55,680 --> 00:05:57,320 Speaker 4: for an individual or one hundred and fifty for a 110 00:05:57,400 --> 00:06:01,479 Speaker 4: married that they would not be paid any taxes on 111 00:06:01,520 --> 00:06:04,560 Speaker 4: their Social Security because of the tax cuts from the 112 00:06:04,600 --> 00:06:05,359 Speaker 4: income code. 113 00:06:05,480 --> 00:06:09,480 Speaker 1: Let's talk about the famous carried interest provision. 114 00:06:10,600 --> 00:06:11,479 Speaker 3: I've never heard of it. 115 00:06:11,640 --> 00:06:13,440 Speaker 2: Yeah, well I should disclose. 116 00:06:13,520 --> 00:06:15,480 Speaker 1: I don't collect carried interest the way I've structured my 117 00:06:15,520 --> 00:06:17,880 Speaker 1: affairs because I didn't like being criticized for it so much. 118 00:06:17,880 --> 00:06:21,280 Speaker 1: So I'm not a carried interest recipient any longer. It 119 00:06:21,400 --> 00:06:23,560 Speaker 1: is reporting the press that the President of the United 120 00:06:23,600 --> 00:06:26,520 Speaker 1: States likes to get rid of carried interest, and you 121 00:06:26,600 --> 00:06:27,280 Speaker 1: didn't do. 122 00:06:27,320 --> 00:06:30,000 Speaker 2: That in this bill, So is he going to be upset? 123 00:06:30,279 --> 00:06:33,400 Speaker 4: So throughout this whole process, David, I've had to thread 124 00:06:33,440 --> 00:06:36,880 Speaker 4: a needle. We have one of the smallest majorities in 125 00:06:36,920 --> 00:06:40,080 Speaker 4: the history of Congress, both in the House and the Senate, 126 00:06:41,560 --> 00:06:45,640 Speaker 4: and so I can only lose three people in passing 127 00:06:45,760 --> 00:06:49,920 Speaker 4: this tax bill, and so trying to thread that needle 128 00:06:50,360 --> 00:06:53,000 Speaker 4: where people are in the extremes in all areas, whether 129 00:06:53,040 --> 00:06:58,200 Speaker 4: it's the green credits, whether it's salt, whether it's other 130 00:06:58,360 --> 00:07:01,240 Speaker 4: various tax provisions. Just trying to find that balance has 131 00:07:01,279 --> 00:07:04,520 Speaker 4: been what I've been striving and trying to to do 132 00:07:04,600 --> 00:07:08,680 Speaker 4: in this bill. In regards to carried interest, I got 133 00:07:08,680 --> 00:07:15,080 Speaker 4: a letter from thirty five different members of our Congress 134 00:07:15,120 --> 00:07:19,400 Speaker 4: for being committee chairman that was saying, do not put 135 00:07:19,400 --> 00:07:22,360 Speaker 4: this in the bill. We can't support the bill. It 136 00:07:22,480 --> 00:07:25,800 Speaker 4: was a priority. The President wanted it. The President had 137 00:07:25,800 --> 00:07:28,680 Speaker 4: a lot of priorities, and I delivered on most of them. 138 00:07:29,400 --> 00:07:31,480 Speaker 1: What about the other one which doesn't affect me, either 139 00:07:31,520 --> 00:07:34,080 Speaker 1: the sports stadium exemption or something. 140 00:07:34,240 --> 00:07:35,200 Speaker 2: Is that did that get in there? 141 00:07:35,280 --> 00:07:36,720 Speaker 3: Or what I delivered on that one? 142 00:07:36,840 --> 00:07:37,000 Speaker 2: Oh? 143 00:07:37,120 --> 00:07:39,080 Speaker 3: Okay, So, but you're going to be fine. 144 00:07:39,280 --> 00:07:41,720 Speaker 4: You're going to be fine, David, because you've purchased the 145 00:07:41,760 --> 00:07:42,560 Speaker 4: team before it. 146 00:07:42,720 --> 00:07:44,320 Speaker 2: Takes Oh yeah, okay, good, thank you. 147 00:07:44,360 --> 00:07:45,720 Speaker 3: So it's only new owners. 148 00:07:46,080 --> 00:07:48,440 Speaker 2: Okay, okay, good. So I'm glad to hear that. 149 00:07:48,760 --> 00:07:52,840 Speaker 1: So okay, I was thinking, oh, thanking, okay, thanks very much. 150 00:07:52,880 --> 00:07:53,600 Speaker 2: I appreciate it. 151 00:07:53,840 --> 00:07:56,000 Speaker 1: So I saw it, which is a state and local 152 00:07:56,080 --> 00:08:00,840 Speaker 1: tax deduction. It was limited to ten thousand dollars. Now 153 00:08:00,880 --> 00:08:03,240 Speaker 1: you've increased its thirty thousand dollars. 154 00:08:03,800 --> 00:08:06,240 Speaker 4: Yes, we increased it three hundred percent because it was 155 00:08:06,280 --> 00:08:11,400 Speaker 4: currently ten thousand. Now it's at three three hundred percent increase. 156 00:08:11,440 --> 00:08:13,520 Speaker 4: It's thirty thousand. 157 00:08:13,520 --> 00:08:15,560 Speaker 2: Unless you have a larger income than which case it 158 00:08:15,600 --> 00:08:16,280 Speaker 2: goes down a bit. 159 00:08:16,360 --> 00:08:18,640 Speaker 4: Yeah, it's thirty thousand. If you make less than four 160 00:08:18,720 --> 00:08:21,560 Speaker 4: hundred thousand dollars. A year and then it starts phasing 161 00:08:22,120 --> 00:08:26,360 Speaker 4: back down to ten thousand. So we've we've tried to 162 00:08:26,400 --> 00:08:30,320 Speaker 4: find what is that that good spot. Even talking to 163 00:08:30,360 --> 00:08:34,439 Speaker 4: my ranking member, he's like, salts just salts an obstacle 164 00:08:34,520 --> 00:08:37,120 Speaker 4: for both parties in that sense. 165 00:08:37,360 --> 00:08:37,760 Speaker 3: And so. 166 00:08:39,720 --> 00:08:44,479 Speaker 4: We've checked numbers like I've I've got numbers from Treasury 167 00:08:44,600 --> 00:08:48,480 Speaker 4: and the irs of the different Salt congressional districts within 168 00:08:48,559 --> 00:08:53,800 Speaker 4: our conference, and this thirty thousand dollars cap that we 169 00:08:53,960 --> 00:08:58,960 Speaker 4: have under four hundred thousand will provide more than ninety 170 00:08:59,040 --> 00:09:04,119 Speaker 4: percent of every one of our SALT members districts coverage 171 00:09:04,559 --> 00:09:05,000 Speaker 4: under this. 172 00:09:07,040 --> 00:09:09,000 Speaker 3: So it's a balance. 173 00:09:09,040 --> 00:09:13,120 Speaker 4: It's not everything that some of the SALT members want, 174 00:09:13,160 --> 00:09:16,120 Speaker 4: but I have members of our conference that doesn't even 175 00:09:16,120 --> 00:09:18,600 Speaker 4: think you should be able to deduct one dollar, let 176 00:09:18,640 --> 00:09:21,600 Speaker 4: alone thirty thousand dollars. 177 00:09:21,679 --> 00:09:23,720 Speaker 3: But it's a fair balance approach. 178 00:09:23,880 --> 00:09:26,480 Speaker 1: When do you think the bill will actually become law? 179 00:09:27,080 --> 00:09:29,560 Speaker 1: Is it before the end of the year or before 180 00:09:29,559 --> 00:09:30,760 Speaker 1: the end of the Congress. 181 00:09:31,040 --> 00:09:34,480 Speaker 4: My goal is July fourth. I want the President to 182 00:09:34,480 --> 00:09:37,520 Speaker 4: be able to sign into law on July fourth. That's 183 00:09:37,600 --> 00:09:39,360 Speaker 4: my goal, and that's the president's goal. 184 00:09:39,559 --> 00:09:43,079 Speaker 2: You are from the Great state of Missouri, Missouri. 185 00:09:43,280 --> 00:09:44,719 Speaker 3: Is there any other all right? 186 00:09:45,600 --> 00:09:48,840 Speaker 1: And did you grow up in a city, a big 187 00:09:48,880 --> 00:09:50,760 Speaker 1: city like Saint Louis or something like that. 188 00:09:51,160 --> 00:09:55,920 Speaker 4: So the congressional district that I represent, David, my family's 189 00:09:55,960 --> 00:09:59,480 Speaker 4: called it home for seven generations. My hometown is less 190 00:09:59,520 --> 00:10:04,600 Speaker 4: than five people. It's called Salem, Missouri. It's the county seat. 191 00:10:05,000 --> 00:10:08,640 Speaker 4: The population of my county is only about sixteen thousand. 192 00:10:09,160 --> 00:10:11,200 Speaker 2: So what is the main business of your district? Is 193 00:10:11,240 --> 00:10:11,800 Speaker 2: it farming? 194 00:10:12,080 --> 00:10:12,800 Speaker 3: Agriculture? 195 00:10:13,200 --> 00:10:15,600 Speaker 4: Agriculture without a doubt in manufacturing. 196 00:10:15,679 --> 00:10:18,080 Speaker 3: I grew up working on my grandparents farm. 197 00:10:18,280 --> 00:10:22,200 Speaker 4: My father was an auto mechanic, and so where I 198 00:10:22,360 --> 00:10:25,840 Speaker 4: lived was we had a single white trailer right next 199 00:10:25,880 --> 00:10:28,280 Speaker 4: to his auto repair business, which was just a two 200 00:10:28,360 --> 00:10:34,160 Speaker 4: bay unit, and my grandparents farm was three miles away, 201 00:10:34,480 --> 00:10:38,160 Speaker 4: and so I always spent the weekends, the summers, the 202 00:10:38,200 --> 00:10:41,680 Speaker 4: evenings working on the farm. And now I own that farm. 203 00:10:41,679 --> 00:10:44,120 Speaker 4: I purchased it when my granddad died. 204 00:10:44,160 --> 00:10:46,880 Speaker 2: But you decided to get into politics. So you went 205 00:10:46,920 --> 00:10:47,760 Speaker 2: to college. 206 00:10:47,400 --> 00:10:52,719 Speaker 3: Where University of Missouri in Colombia. Graduated with two degrees. 207 00:10:52,400 --> 00:10:57,559 Speaker 4: At twenty business administration emphasis finance and agriculture economics. And 208 00:10:57,600 --> 00:10:59,760 Speaker 4: then I went to law school three days later. 209 00:11:00,080 --> 00:11:02,200 Speaker 1: All right, so you're a lawyer as well, but you 210 00:11:02,240 --> 00:11:03,320 Speaker 1: did not practice law. 211 00:11:04,160 --> 00:11:08,480 Speaker 4: I practiced law for just about a year and then 212 00:11:08,800 --> 00:11:12,000 Speaker 4: got elected to the Missouri State House when I was 213 00:11:12,080 --> 00:11:15,559 Speaker 4: twenty four. Was one of the youngest members in the 214 00:11:15,600 --> 00:11:19,840 Speaker 4: Missouri State House. I became the majority whip, the youngest 215 00:11:19,880 --> 00:11:23,320 Speaker 4: Speaker pro tem in Missouri's history, and then ran for 216 00:11:23,400 --> 00:11:24,720 Speaker 4: Congress at thirty two. 217 00:11:24,880 --> 00:11:27,679 Speaker 1: Thirty two, So you got elected and what year did 218 00:11:27,679 --> 00:11:28,960 Speaker 1: you get elected Congress? 219 00:11:29,080 --> 00:11:32,360 Speaker 4: Initially it was June of twenty thirteen. I will never 220 00:11:32,440 --> 00:11:36,199 Speaker 4: forget my first day I got sworn in. My predecessor 221 00:11:36,280 --> 00:11:39,400 Speaker 4: was Congresswoman Joe and Emerson, and she led me down 222 00:11:39,480 --> 00:11:41,480 Speaker 4: to the floor. She was there when I got sworn 223 00:11:41,480 --> 00:11:45,400 Speaker 4: in entire with the Missouri delegation, and she's like, do 224 00:11:45,440 --> 00:11:47,959 Speaker 4: you know how to get back to your office, which 225 00:11:48,240 --> 00:11:50,720 Speaker 4: my office was her old office at that time in 226 00:11:50,760 --> 00:11:52,520 Speaker 4: the Rayburn House Office building. 227 00:11:52,520 --> 00:11:54,040 Speaker 3: And I was like, yeah, I can do it. 228 00:11:54,559 --> 00:12:00,360 Speaker 1: Right, So okay, So now, how do you go from 229 00:12:00,400 --> 00:12:02,800 Speaker 1: being a young member of Congress to being the Waysey 230 00:12:02,840 --> 00:12:04,400 Speaker 1: Means Committee used to be Seniority? 231 00:12:04,600 --> 00:12:07,640 Speaker 2: How did you become the chairman of the Waysey Means Committee. 232 00:12:07,880 --> 00:12:09,400 Speaker 3: It's all about relationships. 233 00:12:09,960 --> 00:12:12,920 Speaker 4: I go back to that first day that when I 234 00:12:12,960 --> 00:12:16,680 Speaker 4: was sworn into office. My senator at that time was 235 00:12:16,760 --> 00:12:21,600 Speaker 4: Roy Blunt, and Roy Blunt pulled me aside and he said, Jason, 236 00:12:21,600 --> 00:12:22,160 Speaker 4: there's two. 237 00:12:22,080 --> 00:12:24,880 Speaker 3: Ways you can be effective in Washington, d C. 238 00:12:25,080 --> 00:12:27,840 Speaker 4: One you can be here for twenty years and just 239 00:12:27,880 --> 00:12:31,360 Speaker 4: build natural seniority, or two you can build relationships. And 240 00:12:31,400 --> 00:12:35,760 Speaker 4: so I made it a focus to schedule five to 241 00:12:35,800 --> 00:12:40,640 Speaker 4: fifteen minute meetings, coffees teas with every member of Congress 242 00:12:40,640 --> 00:12:42,400 Speaker 4: that would meet with me whenever I came up here, 243 00:12:42,440 --> 00:12:44,720 Speaker 4: because they all knew who I was, being the new 244 00:12:44,760 --> 00:12:47,640 Speaker 4: special election kid, but I didn't know who the other 245 00:12:47,679 --> 00:12:50,680 Speaker 4: four hundred and thirty four were. And so I just 246 00:12:50,679 --> 00:12:53,760 Speaker 4: started going through getting to know them, not asking for anything, 247 00:12:54,000 --> 00:12:57,280 Speaker 4: but just figure out where we have some common ground, 248 00:12:57,440 --> 00:12:57,760 Speaker 4: all right. 249 00:12:57,800 --> 00:12:59,680 Speaker 1: So it used to be on seniority. You work your 250 00:12:59,720 --> 00:13:01,480 Speaker 1: way up up and then you become a chairman of 251 00:13:01,520 --> 00:13:04,920 Speaker 1: the committee. Now the members of each caucus decide who 252 00:13:04,960 --> 00:13:07,520 Speaker 1: they want to have. And so you ran for an 253 00:13:07,559 --> 00:13:11,520 Speaker 1: election as chairman of the Ways and Means Committee. I did, 254 00:13:11,600 --> 00:13:13,960 Speaker 1: and you got elected the last congress I did. 255 00:13:14,000 --> 00:13:16,640 Speaker 4: I've been elected twice now, as Chairman of the House 256 00:13:16,720 --> 00:13:18,240 Speaker 4: Ways and Means Committee. 257 00:13:17,800 --> 00:13:18,720 Speaker 3: I worked really hard. 258 00:13:18,840 --> 00:13:23,679 Speaker 4: I traveled to forty two of the fifty states, campaigning 259 00:13:23,760 --> 00:13:27,000 Speaker 4: for my colleagues and for candidates in eighty seven different 260 00:13:27,000 --> 00:13:31,680 Speaker 4: congressional districts. I did more than three hundred TV appearance 261 00:13:32,040 --> 00:13:38,640 Speaker 4: appearances trying to push the Republican message. And I met 262 00:13:38,679 --> 00:13:41,400 Speaker 4: with every one of the thirty plus members of the 263 00:13:41,440 --> 00:13:45,440 Speaker 4: Steering Committee multiple times, giving them the pitch of why 264 00:13:45,880 --> 00:13:48,520 Speaker 4: I should lead the Ways and Means Committee and under 265 00:13:48,679 --> 00:13:50,080 Speaker 4: what leadership I would lead on. 266 00:13:50,160 --> 00:13:53,400 Speaker 1: So what was your most effective argument for why somebody 267 00:13:53,440 --> 00:13:56,720 Speaker 1: from a farming district in Missouri should be the chairman 268 00:13:56,720 --> 00:14:00,000 Speaker 1: of the Ways and Means Committee at a relatively young age. 269 00:14:00,280 --> 00:14:03,680 Speaker 4: Believe that our party is not the party of seniority 270 00:14:03,760 --> 00:14:05,800 Speaker 4: or who's next in line, but it's the party who's 271 00:14:05,800 --> 00:14:06,720 Speaker 4: best for the job. 272 00:14:07,160 --> 00:14:09,000 Speaker 3: And I felt like I was the best. 273 00:14:08,720 --> 00:14:10,760 Speaker 4: Person for the job. That's why I was running for it. 274 00:14:10,920 --> 00:14:13,760 Speaker 4: I wouldn't have wouldn't have done it. And I said 275 00:14:13,800 --> 00:14:16,600 Speaker 4: that if you elect me to be the chairman of 276 00:14:16,640 --> 00:14:20,120 Speaker 4: this committee, that the policies it's within the Ways and 277 00:14:20,200 --> 00:14:25,600 Speaker 4: Means jurisdiction, tax trade, healthcare, social security needs to be 278 00:14:25,680 --> 00:14:29,120 Speaker 4: the policies that reflect the priorities of the working class. 279 00:14:29,560 --> 00:14:31,360 Speaker 4: I'm a product of the working class. 280 00:14:31,800 --> 00:14:32,400 Speaker 3: I grew up in a. 281 00:14:32,400 --> 00:14:34,800 Speaker 4: Single by trailer most of my life, and then we 282 00:14:34,880 --> 00:14:39,560 Speaker 4: upgraded to a double wide. My mother was a factory worker, 283 00:14:39,920 --> 00:14:42,000 Speaker 4: just so that we had health insurance. That's how we 284 00:14:42,120 --> 00:14:44,960 Speaker 4: made it by. But I am so grateful for how 285 00:14:44,960 --> 00:14:48,720 Speaker 4: I was raised, because it doesn't matter like what family 286 00:14:48,760 --> 00:14:52,040 Speaker 4: you're born into. If you get a quality education and 287 00:14:52,080 --> 00:14:54,080 Speaker 4: you're determined to work hard and not give up, you 288 00:14:54,120 --> 00:14:57,520 Speaker 4: can accomplish just about anything. And that's how I view 289 00:14:57,600 --> 00:15:00,720 Speaker 4: everything that I've done, whether it's becoming the Ways Means chairman, 290 00:15:01,160 --> 00:15:03,840 Speaker 4: or when I ran for Congress, there were twenty six 291 00:15:03,920 --> 00:15:06,920 Speaker 4: other Republicans that I had to beat out in order 292 00:15:06,960 --> 00:15:09,760 Speaker 4: to just become the nominee to take my predecessor spot. 293 00:15:09,800 --> 00:15:12,240 Speaker 1: So when you were elected chairman of the Weaseley Means Committee, 294 00:15:12,280 --> 00:15:14,080 Speaker 1: did you call your mother and explain it to her 295 00:15:14,120 --> 00:15:16,840 Speaker 1: and was she ecstatic or what did you say? 296 00:15:17,080 --> 00:15:18,280 Speaker 3: She's like, what does that mean? 297 00:15:18,560 --> 00:15:20,680 Speaker 1: Does she tell everybody her son is the chairman of 298 00:15:20,680 --> 00:15:21,600 Speaker 1: the Waisley Means Committee? 299 00:15:21,680 --> 00:15:24,160 Speaker 3: Or she doesn't she doesn't like people don't care. 300 00:15:24,240 --> 00:15:24,720 Speaker 2: I don't care. 301 00:15:26,960 --> 00:15:31,400 Speaker 3: My friends and neighbors don't care. It's so funny. 302 00:15:31,440 --> 00:15:33,760 Speaker 4: I woke up this morning with the text message from 303 00:15:34,080 --> 00:15:37,400 Speaker 4: a high school classmate who's a school teacher in my hometown. 304 00:15:37,840 --> 00:15:40,960 Speaker 4: She's like, why is your face continuing to pop up 305 00:15:41,000 --> 00:15:41,680 Speaker 4: on the TV? 306 00:15:42,120 --> 00:15:45,880 Speaker 3: Like are you important? I was like, no, not at all. 307 00:15:47,040 --> 00:15:49,240 Speaker 1: If you want to call the President of United States? 308 00:15:49,240 --> 00:15:51,320 Speaker 1: How long does it take before you get a callback? 309 00:15:51,640 --> 00:15:55,400 Speaker 4: Most time when I call him, he answers, he's He 310 00:15:55,480 --> 00:15:58,080 Speaker 4: is the most accessible. 311 00:15:59,040 --> 00:16:00,600 Speaker 3: Executive I have or worked with. 312 00:16:00,720 --> 00:16:04,440 Speaker 4: I'll wake up in the morning sometimes from a text 313 00:16:04,440 --> 00:16:06,760 Speaker 4: message from the President at five thirty in the morning 314 00:16:07,200 --> 00:16:09,400 Speaker 4: and it's sent to me at like two thirty, and 315 00:16:09,440 --> 00:16:12,280 Speaker 4: I'm like, oh, no, he knows I was sleeping, you know. 316 00:16:12,680 --> 00:16:16,600 Speaker 4: So he's always working. He'll text you. I can text him. 317 00:16:16,880 --> 00:16:19,640 Speaker 4: He is so productive in regards to talking policy. 318 00:16:19,960 --> 00:16:24,040 Speaker 1: Now that you've got this bill behind you, what is 319 00:16:24,080 --> 00:16:27,040 Speaker 1: the highest priority when you get the bill through the 320 00:16:27,080 --> 00:16:29,280 Speaker 1: House and the Senate and you've ultimately how he his 321 00:16:29,400 --> 00:16:30,520 Speaker 1: life worth ceremony? 322 00:16:30,800 --> 00:16:32,560 Speaker 2: Is it to deal with trade? Is that your next 323 00:16:32,560 --> 00:16:34,240 Speaker 2: big issue? 324 00:16:34,360 --> 00:16:35,320 Speaker 3: So multiple things. 325 00:16:35,960 --> 00:16:39,080 Speaker 4: We have to get this bill signed into law, delivered 326 00:16:39,080 --> 00:16:42,320 Speaker 4: for the American people, but after it's signed into law, 327 00:16:42,640 --> 00:16:46,000 Speaker 4: I'm going to hold I'm going to hold Treasury accountable 328 00:16:46,040 --> 00:16:49,400 Speaker 4: to make sure that they're implementing the tax bill how 329 00:16:49,480 --> 00:16:50,760 Speaker 4: Congress passed it. 330 00:16:50,760 --> 00:16:52,200 Speaker 3: It's not always been fun. 331 00:16:52,400 --> 00:16:54,320 Speaker 4: That's going to be a big priority to make sure 332 00:16:54,360 --> 00:16:56,640 Speaker 4: that the tax codes implemented as the priority that we're 333 00:16:56,640 --> 00:16:57,520 Speaker 4: passing Congress. 334 00:16:57,880 --> 00:17:00,360 Speaker 3: But trade, trade is super poor. 335 00:17:00,520 --> 00:17:03,640 Speaker 4: Ninety six percent of the world's consumers are outside of 336 00:17:03,640 --> 00:17:07,600 Speaker 4: the United States. I represent a farming congressional district. We 337 00:17:07,600 --> 00:17:11,440 Speaker 4: were dependent on trade. We grow rice, corn, cotton, beef, 338 00:17:11,480 --> 00:17:14,160 Speaker 4: cattle in my district, and so we need more markets. 339 00:17:14,200 --> 00:17:17,600 Speaker 4: We need to eliminate those those non tariff barriers. 340 00:17:17,720 --> 00:17:19,639 Speaker 1: Let's suppose you have all this in the big bill, 341 00:17:20,359 --> 00:17:23,879 Speaker 1: and let's suppose it passes. The total cost of the 342 00:17:23,880 --> 00:17:28,000 Speaker 1: big beautiful bill, your parts and other things, is it 343 00:17:28,440 --> 00:17:30,760 Speaker 1: four trillion dollars or something like that. 344 00:17:30,920 --> 00:17:33,880 Speaker 4: It was the House number was you could not exceed 345 00:17:34,040 --> 00:17:36,800 Speaker 4: four and a half trillion, Yeah, trillion. And then they 346 00:17:36,840 --> 00:17:42,240 Speaker 4: had this ratchet item that if you didn't didn't make 347 00:17:42,480 --> 00:17:46,360 Speaker 4: two trillion dollars worth of spending cuts, it would ratchet 348 00:17:46,440 --> 00:17:50,320 Speaker 4: down to four trillion. And so our bill actually comes 349 00:17:50,320 --> 00:17:52,159 Speaker 4: in below four trillion dollars. 350 00:17:52,280 --> 00:17:54,640 Speaker 1: But part of the Big Beautiful Bill is to have 351 00:17:54,680 --> 00:17:58,359 Speaker 1: the increase of the debt limit. Right now, we have 352 00:17:58,400 --> 00:18:01,160 Speaker 1: a debt limit that's pull more more or less, it's 353 00:18:01,280 --> 00:18:04,399 Speaker 1: sort of expired a while ago. But you're going to 354 00:18:04,440 --> 00:18:06,680 Speaker 1: pass in this Big Beautiful bill as it a five 355 00:18:06,800 --> 00:18:09,440 Speaker 1: trillion dollar increase in the debt limit something like that. 356 00:18:09,840 --> 00:18:10,840 Speaker 3: So you're right. 357 00:18:10,920 --> 00:18:13,400 Speaker 4: The debt limit, David expired at the first of the year. 358 00:18:13,600 --> 00:18:16,680 Speaker 4: We're operating under extraordinary measures right now is what they 359 00:18:16,720 --> 00:18:19,760 Speaker 4: refer to, and it's projected that will last us some 360 00:18:20,000 --> 00:18:20,800 Speaker 4: time in July. 361 00:18:21,960 --> 00:18:23,520 Speaker 3: And so we have to address that. 362 00:18:24,119 --> 00:18:27,679 Speaker 4: And part of the bill that we voted out a 363 00:18:27,680 --> 00:18:31,280 Speaker 4: committee increase the debt limit. It increased the debt limit 364 00:18:31,400 --> 00:18:34,800 Speaker 4: four trillion dollars, which was in the budget instructions that 365 00:18:34,840 --> 00:18:38,040 Speaker 4: we were required to do. The Senate instructions is higher 366 00:18:39,200 --> 00:18:41,800 Speaker 4: with a higher debt limit, and so that's one of 367 00:18:41,800 --> 00:18:44,040 Speaker 4: those things that I'm sure that is going to be 368 00:18:44,080 --> 00:18:44,800 Speaker 4: figured out throughout. 369 00:18:45,320 --> 00:18:46,880 Speaker 2: I just get rid of the debt limit completely. 370 00:18:46,920 --> 00:18:49,320 Speaker 1: We've raised it over ninety times since it first was 371 00:18:49,320 --> 00:18:51,919 Speaker 1: put into effect in the early part of the twentieth century. 372 00:18:52,160 --> 00:18:54,040 Speaker 1: We've never really complied with it, Why not just get 373 00:18:54,119 --> 00:18:55,600 Speaker 1: rid of it? I think President Trump said he would 374 00:18:55,640 --> 00:18:56,159 Speaker 1: like to get rid of it. 375 00:18:56,160 --> 00:18:58,480 Speaker 4: At one point I was about to say, you, David, 376 00:18:58,600 --> 00:19:01,760 Speaker 4: you and President Trump are exactly agreeing on that issue. 377 00:19:02,800 --> 00:19:05,040 Speaker 4: And I think there's a lot of members of both 378 00:19:05,119 --> 00:19:10,280 Speaker 4: parties that that view the debt limit as like a 379 00:19:10,440 --> 00:19:15,439 Speaker 4: very poison pill that individuals have to worry about, and 380 00:19:15,480 --> 00:19:18,680 Speaker 4: when you think about defaulting on US debt, that can 381 00:19:18,720 --> 00:19:19,800 Speaker 4: create a big problem. 382 00:19:20,119 --> 00:19:23,159 Speaker 1: So well, you think it's unlikely that we're going to 383 00:19:23,160 --> 00:19:24,600 Speaker 1: get rid of the debt limit in this bill, We're 384 00:19:24,600 --> 00:19:25,399 Speaker 1: just going to increase it. 385 00:19:25,440 --> 00:19:25,800 Speaker 2: Probably. 386 00:19:27,000 --> 00:19:30,240 Speaker 4: I tell everyone, I've said this before the bills were 387 00:19:30,280 --> 00:19:34,240 Speaker 4: out there, is that pretty much everything's on the table 388 00:19:34,320 --> 00:19:37,280 Speaker 4: because we don't know what is needed to thread that 389 00:19:37,400 --> 00:19:40,879 Speaker 4: needle to get the votes. People will talk about different 390 00:19:40,920 --> 00:19:44,160 Speaker 4: tax brackets or whatever, and I would just say everything's 391 00:19:44,200 --> 00:19:44,800 Speaker 4: on the table. 392 00:19:45,160 --> 00:19:47,280 Speaker 1: Is your expectation the Senate will take your bill and 393 00:19:47,320 --> 00:19:48,920 Speaker 1: say it's really great and we're going to pass it, 394 00:19:49,000 --> 00:19:50,000 Speaker 1: or it's going to come back to you. 395 00:19:50,880 --> 00:19:54,440 Speaker 4: So I'm sure they will make changes. We've been working 396 00:19:55,000 --> 00:20:00,320 Speaker 4: with Senate Finance. I've been meeting with numerous Senators have 397 00:20:00,359 --> 00:20:03,679 Speaker 4: been calling me telling me their priorities. We put a 398 00:20:03,720 --> 00:20:05,840 Speaker 4: lot of the senator's priorities in this bill. 399 00:20:06,119 --> 00:20:08,600 Speaker 1: So what is the best way to get something in 400 00:20:08,640 --> 00:20:11,239 Speaker 1: the tax bill? Or was the best way is it 401 00:20:11,280 --> 00:20:17,000 Speaker 1: to call you up personally? Text you certain lobbyists have accessed. 402 00:20:17,240 --> 00:20:19,080 Speaker 1: What's the best way to convince a member of the 403 00:20:19,080 --> 00:20:21,280 Speaker 1: Ways and Means Committee or the chairman put something in 404 00:20:21,320 --> 00:20:22,800 Speaker 1: the bill or take something out? 405 00:20:23,000 --> 00:20:25,920 Speaker 4: So I changed how we run the Ways and Means 406 00:20:25,960 --> 00:20:30,080 Speaker 4: Committee from my very first committee hearing. My first committee 407 00:20:30,119 --> 00:20:33,400 Speaker 4: hearing as chairman was not in Washington. We did it 408 00:20:33,440 --> 00:20:37,720 Speaker 4: in Petersburg, West Virginia, at a lumberyard, and we brought 409 00:20:37,720 --> 00:20:44,760 Speaker 4: in a restaurant owner, a coal miner, working moms, and 410 00:20:44,880 --> 00:20:47,160 Speaker 4: farmers just to hear of the issues that they were 411 00:20:47,200 --> 00:20:50,680 Speaker 4: facing in today's economy. I set up ten different tax 412 00:20:50,760 --> 00:20:56,080 Speaker 4: teams where I picked ten different members of my committee 413 00:20:56,560 --> 00:21:00,640 Speaker 4: to chair for over the last year, where they traveled 414 00:21:00,640 --> 00:21:04,439 Speaker 4: to more than twenty three different states themselves, had more 415 00:21:04,520 --> 00:21:07,280 Speaker 4: than one hundred and twenty site visits. They met with 416 00:21:07,320 --> 00:21:11,920 Speaker 4: stakeholders to listen to all items within the code, and 417 00:21:11,960 --> 00:21:13,280 Speaker 4: then we brought that all back. 418 00:21:13,600 --> 00:21:15,920 Speaker 2: Let's suppose I'm just a lobbyist. I have one provision. 419 00:21:16,240 --> 00:21:18,600 Speaker 1: Is it to wait outside your office and as you're 420 00:21:18,640 --> 00:21:20,439 Speaker 1: walking somewhere talk to you. 421 00:21:20,560 --> 00:21:21,800 Speaker 2: Is that a very effective way? 422 00:21:21,880 --> 00:21:22,520 Speaker 3: Please don't. 423 00:21:22,680 --> 00:21:25,560 Speaker 4: What I do want to say is is we have 424 00:21:25,600 --> 00:21:31,159 Speaker 4: a three hundred and almost four hundred page bill, and 425 00:21:31,240 --> 00:21:34,600 Speaker 4: I'm sure there's things that we may have not saw 426 00:21:34,680 --> 00:21:36,959 Speaker 4: all the facts in and when you hit one domino here, 427 00:21:37,000 --> 00:21:38,720 Speaker 4: it can really mess up some other dominoes. 428 00:21:38,880 --> 00:21:39,720 Speaker 3: I want. 429 00:21:40,440 --> 00:21:44,520 Speaker 4: I want any American who feels like that there's an 430 00:21:44,600 --> 00:21:47,720 Speaker 4: unintended consequence of what we're trying to do that we 431 00:21:47,800 --> 00:21:49,560 Speaker 4: may not be aware of, please let us know. 432 00:21:49,840 --> 00:21:51,960 Speaker 1: And are you ever thinking of running for a state 433 00:21:51,960 --> 00:21:54,120 Speaker 1: wide office? Would you ever consider running for the Senate 434 00:21:54,200 --> 00:21:55,040 Speaker 1: or the governorship. 435 00:21:55,119 --> 00:21:57,280 Speaker 4: I didn't originally plan when I came to Congress that 436 00:21:57,320 --> 00:21:59,160 Speaker 4: I would be Chairman of the Ways and Means Committee, 437 00:21:59,200 --> 00:22:01,879 Speaker 4: and I've had such a great honor to do this. 438 00:22:02,119 --> 00:22:04,720 Speaker 4: I just want to make a difference in the lives 439 00:22:04,760 --> 00:22:07,080 Speaker 4: of the people who have trusted me and sent me 440 00:22:07,119 --> 00:22:11,919 Speaker 4: to Washington, and so I haven't really planned ahead of 441 00:22:11,960 --> 00:22:17,040 Speaker 4: anything other than let's pass this one big, beautiful bill. 442 00:22:17,080 --> 00:22:19,480 Speaker 2: Thanks for listening to hear more of my interviews. 443 00:22:19,480 --> 00:22:23,439 Speaker 1: You can subscribe and download my podcast on Spotify, Apple, 444 00:22:23,680 --> 00:22:24,600 Speaker 1: or wherever you listen.