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Can Republicans Avoid Government Shutdown?; President Trump Delivers Address in Pennsylvania. Aired 3-3:30p ET
Aired January 18, 2018 - 15:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
IVANKA TRUMP, ASSISTANT TO PRESIDENT TRUMP: It was so core to him to support hard-working middle income families, and the child tax credit is key to doing that.
So it's going to be a big win for everyone in this room and everyone across this country. And we are very, very excited about that. Doubling the standard deduction, the child tax credit, all of these elements that make this a very family-friendly plan but also enable great American businesses like this one to thrive and be competitive in a global landscape.
So we're very proud of it. And America is just starting to realize just how great our tax cut plan is. So more of that to come. But thank you for having me here. Thanks.
D. TRUMP: Thank you, baby. Thank you very much, Ivanka.
She worked hard. She's a hard worker. All of our kids are hard workers, right? They work. And we love to see it. And they're doing a terrific job for our country. I've come to the great city of Pittsburgh to stand with people. And those people are incredible workers. And to show the world that America is back and that we are coming back bigger and better and stronger than ever before, and we're making our own product again, and we're opening up our factories again.
I mean, you take a look at what's going on where Toyota is coming in. And the other day you just saw Chrysler announce they're moving from Mexico back to Michigan, you don't hear that too often, with a big, big monster factory, going to spend a lot of money. At the center of America's resurgence are the massive tax cuts that I just signed into law. And it is also reform but I usually just say tax cuts because that is what people -- they don't want to hear about the reform.
Believe me, the reform is very important. We don't have to go into it. But the tax cuts are the most significant tax cut, most significant reform in American history, with tremendous tax relief for working families, for small businesses, for big businesses that produce jobs, for just about everybody, tremendous numbers. And you're already seeing what is happening. You're seeing what is going on. The signs of America's comeback can be
seen at companies like this one, which just had its most successful year in its 35-year history. Congratulations. Good job.
And I just learned from the powers-that-be that H&K Equipment will soon be making a $2.7 million capital investment thanks to the new tax cut. So I appreciate that, and the workers appreciate that. It's good. You are doing great. Great job. Great, great equipment.
D. TRUMP: That means more growth and ultimately it means more jobs. So congratulations. We have created nearly 2.2 million jobs since the election.
The unemployment rate is at now an 18-year low. I was saying 17 years and now it just lifted to 18 years. The number of Americans applying for unemployment benefits just hit a 45-year low.
Something I'm really proud of, because I've been saying it, "What do you have to lose?" African-American unemployment is at its lowest level ever recorded.
Female unemployment is at the lowest level in 17 years.
Hispanic-American unemployment has hit its all-time lows.
TRUMP: Lowest ever.
Pensions and retirement accounts are surging in value as the stock market smashes one record high after another.
How many people have 401(k)s here?
You're brilliant investors. I've had people come up, "Sir, my wife thinks I'm the most brilliant investor, because I made 42 percent in the last 10 months," and that's pretty good. But people are happy.
Anybody unhappy with the 401(k)? I don't think so, right? Wow. If we can keep it like this, we're going to win a lot of elections, that I can tell you. It's something. No, it's something.
"It's the economy, stupid!" Did you ever hear that one? It's the economy.
It is, indeed. As soon as, really a few weeks from now, millions of American workers will be seeing the signs of America's comeback in their paychecks in February. Very simply, your paychecks will be much bigger, because under our tax cuts you will be keeping more of your hard-earned money.
We are doubling the child tax credit, increasing the refundable credit by 40 percent -- 40, not 14, 40. And we are making the child credit available to more families than ever before. Not even close.
When we began our push for tax cuts, I promised that our bill would result in more jobs, higher wages, and tremendous relief for middle- class families, and that is exactly what we have delivered. There's only one thing. Even I never knew how big it would be. It's much bigger -- and you see it -- than anybody anticipated. We kept our promise.
In Pennsylvania alone, families will see a tax cut of about $11 billion just this year alone.
That's pretty good. A typical family of four earning $75,000 will see an income-tax cut of more than $2,000 a year. That's like a $2,000 raise -- slashing their income tax bill in half. Many will save much more than that.
Ken Wilson (ph) is a great example, where's Ken? Ken Wilson. (ph) The legendary Ken Wilson (ph).
Hi, Ken (ph). Come on over here where we see you, Ken (ph). You've got to be happy with this.
D. TRUMP: Is Ken (ph) doing a good job?
Ken's (ph) doing a good? Everybody knows Ken (ph). Come on over here, Ken (ph). Come on up here, Ken (ph). Come on, if he can make it. He'll figure out how to get that thing open. If he can't do it, nobody can, right? It's what he does, he works on machinery all of the time.
Ken (ph) joined H&K 14 years ago as a mechanic and worked his way up to become a project foreman. Because of our tax cuts, Ken will save almost $2,200 in income taxes, 2,000. So, Ken, you just got a $2,200 raise.
(APPLAUSE) And if I had a head of hair like that, I would -- I really would have been -- I would have been president years ago, Ken (ph). Years ago.
But we've nearly doubled the amount of income taxed at the rate of zero. So, Ken (ph), you've seen a big difference.
D. TRUMP: Come here. Thank you, man. He said just the right thing. You never know.
You want to say -- say something to your workers. Say something to your co-workers.
(UNKNOWN): It's not just the me, it's everybody as a whole. This company is an incredible company. We work with a bunch of great people. Everybody pulled together this week and pulled this off. It was a sight to see. It's something to always remember here. So thank everybody, obviously. Thank you, Mr. Trump.
D. TRUMP: Good job.
(UNKNOWN): Thank you.
D. TRUMP: Thank you, Ken (ph).
He did good. He didn't know about that. He didn't know at all about that, right, Ken? (ph) Good job.
Now because we substantially reduced tax rates on American companies, economists estimate that annual household income will rise by an average of $4,000. Think of that. More than 2 million American workers have already received a tax cut bonus from their employers, pay raises, more money for retirement. Checks as high as $2,000 or more all because of our tax cuts. And it hasn't even been a month since I signed the bill.
It has turned out to be much bigger than we all thought. Even the people that did it, right, Gary? And right, all of the congressman that voted for it and fought so hard? Nobody had any idea. One thing we didn't project in a positive way, nobody thought that the companies were going to step up and pay all of these great bonuses to people. AT&T started it. But they came up and they paid all of these bonuses.
A Florida software company, Spellex, just announced $1,000 tax cut bonuses for its workforces. Apple just announced they are giving their employees tax cut bonuses worth $2,500 each. And because of our business tax reforms, Apple has just announced that they are bringing $350 billion and putting it into investment into our country, 350 billion.
And when I heard the news yesterday -- and Tim Cook is a great guy, the head of Apple, and when I heard the news, I heard 350 billion, I said, you mean 350 million, that's going to be a beautiful plant, they said, no, it's $350 billion. And I just called Tim Cook and I thanked him. But I don't imagine there has ever been an investment that big in this country by a company. And just think of what that means. And they're going to build plants.
D. TRUMP: And I think some of you remember I said I will not consider our economic situation complete until we get Apple to start building some of those massive plants of the United States. They're going to build plants. They're going to build a big campus. They're really going to town. So we want to thank Apple -- $350 billion.
Here in the great Commonwealth of Pennsylvania, thousands of workers have already received tax-cut bonuses thanks to employers like Comcast, Next Year Bank, American Airlines, PNC financial, names I'm very familiar with. One of those hard-working Pennsylvanians is Kevin Hostus (ph).
Kevin is a Marine Corps veteran who received a Bronze Star and a Purple Heart for his courageous service during three tours in Iraq, and a great, proud, person.
Where's Kevin? Where is Kevin? Kevin?
He kept that hand out like he didn't want to come up and speak.
Thank you, Kevin.
He started working for Comcast in 2016, and last week he received a $1,000 bonus check thanks to our tax cuts, right out of Comcast, right into his bank. Now he has taken his family on a well-deserved vacation, Kevin, to visit his grandparents in Florida, right?
Thank you, Kevin. See you in Florida.
I want to thank you for your service, for your patriotism, and congratulations for the bonus. It's really great.
Millions of people. Not only are we already seeing the benefits of higher wages and bigger salaries, much bigger salaries, but we're also seeing the creation, very importantly to me, of new jobs.
Pete O'Connor (ph) owns a personnel company called Carol Harris Staffing right here in Pittsburgh.
Pete says that businesses of all kinds are seeing increased demand just recently, and they're hiring more and more workers. But (ph) it's only really great news, not only for Pete, it's great news for all of the people in Pittsburgh, for the citizens of Pennsylvania, and Americans all across our country.
Where's Pete? Pete? Thank you, Pete. You're seeing a big difference, right?
Big difference? Big difference.
We're putting America back to work and we're insuring the forgotten men and women of our country, on never ever forgotten again. Remember, the deplorables?
The deplorables. We're all deplorables. Who would have that was going to turn into a landslide, right? Who would have thought that was turn in -- that was not a good phrase that she used. Some things you'd like to have back.
And the good news keeps pouring in. Americans monthly utility bills are also going down because major electric companies have announced they will pass their savings from taxes on to their customers, tremendous reduction in certain companies' and people's energy costs.
That means were not only seeing higher wages, but lower energy bills. And that's because of the tax cuts, but it's also because of the regulation cuts.
When I spoke to the folks in the plant, they said the biggest thing is what's happened is regulations -- cutting of the regulations. And we have regulations, but they're fair and they're reasonable, and they're actually just as stringent. But you go to one group for a -- for an OK. You don't have to get it 19 different times or seven times, or go to different agencies.
It's within the realm of reasonable, and that's why people are opening up, they're expanding, and they're hiring more people. Our tax bill also took a historic step to restore health care freedom. No longer will the federal government punish you for fines if you can't afford an Obamacare-mandated health plan, because we repealed Obamacare's cruel -- it was cruel -- individual mandate, where you were supposed to go out --
-- and you pay, in order not to have to buy health care. Think of it. It should have been rejected a long time ago by a lot of different people, including the court, surprisingly. But we were able to repeal it. We got rid of the individual mandate, and you will see what that means. It is such a big factor for so many people. It was so unfair. It's gone. We've also opened up ANWR in Alaska for energy exploration --
-- creating even more jobs, and more and more energy savings, but that's the biggest one. They've been trying to do that since Ronald Reagan. For over 40 years, they've been trying to open ANWR. We got it open.
There's never been a better time to hire in America, to invest in America, and to believe in the American dream than right now.
There is no limit to what we can achieve when we set free the dreams of our incredible people. You're incredible people. Americans crossed oceans, tamed the wilderness, dug out the Panama Canal, and launched a man onto the face of the moon. American hands and grit poured the concrete in our highways, and forged the steel in our skyscrapers. Americans built the Hoover Dam, the magnificent Hoover Dam, if you've ever seen it. The Empire State Building, they built it in one year. Nobody knows that -- one year. It was actually less than one year, the Empire State Building. We won two World Wars.
Americans do anything, build anything and create anything, as long as we have pride in our country, confidence in our values and respect for our great American flag.
Right? Because America doesn't belong to the Washington power brokers. It belongs to you, and I think we've taught them that.
Doesn't mean it's easy. It doesn't mean it's easy. It's nasty in Washington, but step, by step, by step, just keep going, right? Going. It is a nasty place. Whoo! But we're getting it. Nobody thought we were going to have this kind of success so quickly. Thank you, darling (ph).
It belongs to the American people. With our destiny in your hands, America will once again be a nation that thinks big, dreams bigger, and always reaches for the stars. Nothing will keep this incredible nation of ours down. Nothing will stop us from reaching the highest peaks, because nothing is stronger than the strength, and will and spirit of the American people.
You are the ones who will shape America's destiny, especially all of these beautiful young people in the front. You are the ones who will restore our prosperity, and you are the ones who are making America great again.
So as many of you know, that's what I talked about: make America great again. America first. We put America first now. We're doing trade deals. We're doing a lot of things that I said we're going to be doing. It's not easy. These other countries have become very, very spoiled with taking advantage of us, but take advantage of us no longer, because now, we want their country for them; it should be their country first. But for us, it's America first. That's the way it is.
So I want to thank the people of the great, great, great state of Pennsylvania. You remember that big night in November? I -- Donald Trump has won the state of Pennsylvania! Right?
And I want to thank the people in this room. You are my friends. You are truly great, great people, and you are making America tick. You are really very special. Thank you all for being here. God bless you all. Thank you. Thank you very much. Thank you.
(CHEERING AND APPLAUSE)
BROOKE BALDWIN, CNN HOST: He loves this, loves getting out of Washington and, of course, touting his new tax policy. You get more money back in your paycheck starting February 1.
This is the president's bread and butter here and, of all places, Pennsylvania. Richard Quest, Gloria Borger both with me here.
And, Richard Quest, we were chatting when we were listening to him. The phrase is America's comeback, promise, money in your paycheck. You made a point about repetition, how he just keeps drilling it home to Americans, I have got you. And I have got to say it's pretty effective.
RICHARD QUEST, CNN CORRESPONDENT: It's more than effective. He has just a single message, which like -- I don't mean this literally, but in a brainwashing fashion, drip, drip, drip.
BALDWIN: You say it over and over.
QUEST: I'm going to say it often enough that you're getting more money back, that the economy is doing better than it's ever been done, that I'm responsible for all of this.
And if you keep doing it -- and, bear in mind, he is effectively running the perpetual election. So, if you add this extremely powerful formula that has worked before, it worked in reality television. It worked in his other businesses and --
BALDWIN: During the campaign?
QUEST: Absolutely. And it is working.
And he has got something to be praised for. The economy is doing very well. And he can bear some of the credit for it. BALDWIN: Gloria, what did you hear? What did you think?
GLORIA BORGER, CNN SENIOR POLITICAL ANALYST: Well, I think this is the president that lots of Republicans would like to see more of, that they would like to see him out on the trail, talking about the tax cuts, talking about this key accomplishment of his, because this is where the American public gives him the most approval.
You know, 67 percent of the American public believes the economy is going very or fairly well. And the president personally is not popular, but the economy is doing really well.
And that's their key campaign platform. And he tried not to talk about the Republican running for the House, Saccone, in his speech, but he couldn't resist saying it earlier, when he was touring the factory, saying he's going to fill up a stadium for him, because the president understands he has a lot on the line here, that he can't afford to lose control of the House of Representatives.
BALDWIN: But he said Washington is a nasty place.
BORGER: Excuse me?
BALDWIN: He said Washington is a nasty place, but you have got to fight them.
He was like punching the air. I'm sitting there thinking, government showdown looming. You have to deal with Congress. You got to get something worked out. And he's saying it's a nasty place.
BORGER: Right. Well, he's right about that. It is a nasty place.
BORGER: It is a nasty place. And here he is today. While members of the Senate are struggling to sort of figure out where they are on immigration, how they're going to avoid a government shutdown, the president confused everybody this morning with a tweet about the Children's Health Insurance Program.
And so, you know, but leave all that aside for a moment in time here. This is the president campaigning on something that he can talk about that the public likes.
QUEST: In a sense, I agree fully. And it goes to the heart of this country. And this message, this repetition, this tax cut, it's going right to where he wants it to go.
BALDWIN: Richard Quest, thank you. Gloria Borger, thank you. We have to move on. Appreciate both of you. The president's speech there in Pennsylvania comes 33 hours and
counting until the government shutdown. We are going to take you live to Capitol Hill for an update on where all of that stands.
Also just in, not mad. President Trump says he's not angry with his chief of staff, John Kelly, a day after Kelly said on TV that the president had evolved, his word, on issues involving the wall and immigration.
But our sources behind the scenes are telling us a different story.
BALDWIN: We are back on this Thursday afternoon. I'm Brooke Baldwin. Thanks for being with me.
The Republican scramble is at a fever pitch as the government is set to shut down here in less than -- I'm looking at my clock here -- 32 hours and 30 minutes.
We're going to dive into what is being done to avoid that here in just a moment.
But, first, this is what would happen if there is no deal, if this current spending bill expires. You have hundreds of thousands of what they call nonessential employees who will be furloughed. If that lasts long enough, they will be without a paycheck, but would likely be paid retroactively.
The U.S. military is considered essential, would still report for duty, but they could potentially not be paid during a shutdown either.
Guess who still gets their paychecks? Yes, Congress. That is actually written into law, but national parks, zoos, museums closed. Mail still gets delivered. Essential services, like Social Security, still get funded.