House Majority Leader Kevin McCarthy (CA-23) appeared on Fox News this morning to discuss the latest on tax reform and the Trump Administration’s historic decision to move the American Embassy from Tel Aviv to Jerusalem.
Excerpts of the interview are below, or watch online here.
On potential changes that will be considered by the conferees:
“I would like to lower the top rate because I do not believe at the end of the day you should punish people for being successful. Right now the Senate already has a lower rate than the House. I’d like to see if we could lower that more. And then when I look at the mortgage [deduction] the House has one version of $500,000 and the Senate has $1,000,000. I’d like to see the Senate version make the House version go up higher.”
On the positive effects this legislation will produce once signed into law:
“Come next February everyone should check their check because their withholdings is going to be better. They’re going to get more money in their paychecks starting out…this will make a fundamental difference. Look at what’s happened with the markets. How many times have we set a new record in this stock market? I will say this is based upon the moves we’ve done with regulation [reform] and tax.”
On working with President Trump:
“I feel very confident we’re going to get this done…at the end of the day we’re going to get this to the President’s desk and he’s going to sign it. I’ve never watched a President so engaged. I was speaking to the Treasury Secretary last night and talked to President Trump last week. He is engaged to make sure this happens because he wants to keep his promise to create more jobs and make sure that the middle class in this country gets an increase in their wages.”
On the U.S. Embassy moving from Tel Aviv to Jerusalem:
“This is the first President who kept his promise. Last June even in the Senate we passed a resolution unanimously that would move the embassy to Jerusalem. That is their capital, it is a reality…. This president kept his promise just as he’ll keep the promise that we’re going to get tax reform done.”