CNBC Excerpts: Special Edition of CNBC's SQUAWK BOX Live From D.C. Today
By: Tori Hartshorn Apr. 17, 2018
Following are excerpts from CNBC interviews which aired on special edition of CNBC's "Squawk Box," live from the Rayburn Room in the U.S. Capitol today, Tuesday April 17th, including: Rep. Kevin Brady (R) Texas, Ways and Means Committee Chair; Rep. Kevin McCarthy (R) California, House Majority Leader; and Mick Mulvaney, Director of the Office of Management and Budget.
REP. KEVIN BRADY (R) TEXAS, WAYS AND MEANS COMMITTEE CHAIR
Brady on "The best is yet to come":
The best is yet to come. Because this was really redesigned to leapfrog America to the lead pack as one of the best places on the planet for that next new plant, new facility. That takes some time. So I think the best is yet to come and today besides this being the last time we have to file, look at what's happening. So we are proposing the first reform of the IRS in 20 years. So we redesign, refocus, and really rein in the IRS abuses.
Brady on IRS changes:
We require the IRS to bring us back a new restructure in the whole agency within a year and a half. We redesign their whole I.T. system so they can protect our personal, private taxpayer information better. And then we really create a truly independent appeals process that puts taxpayers on the same level as the IRS in these disputes so they can be resolved more affordably and more quickly. And that's just one part of some major changes of the IRS.
REP. KEVIN MCCARTHY (R) CALIFORNIA, HOUSE MAJORITY LEADER
McCarthy on the tax bill:
As economic growth continues to go, I think come November, and then April will even be greater. I know the chairman, this week, just today, we're passing 13 more tax bills on the floor that are changing the form of the IRS and identity theft. Very important things that Americans care about. We continue to work. I think at the end of the day, you'll see this is very popular.
McCarthy on Paul Ryan:
Paul and I -- when we first came to congress, he's been one of my best friends. I don't know if you remember, back when we were in the minority, Paul and I and another -- Eric Cantor created, "Young Guns," one of the integral parts of helping us win majority. We have been a partner all the way through this. I'm humbled Paul would say that, but what's most important, Kevin will tell you and every member of this conference, we have to make sure a republican could become speaker in the next congress. So we have a lot of work to do. History goes against us.
MICK MULVANEY, DIRECTOR OF OFFICE OF MANAGEMENT AND BUDGET
Mick Mulvaney on structural changes:
We fundamentally changed the way the economy is structured, and the way we're going to tax wealth in this country, and wealth creation. Because keep it mind it's not only the tax code which we've reformed. Not just reduced the rates, we've changed the tax code. But we've also changed the regulatory policy, we've changed the energy policy, we've changed a lot of the way the economy works. This is a structural change of the economy for the better, and it's not a one-time thing.
Mick Mulvaney on why Democrats need tax reform to fail:
They're heavily invested in this message failing. If we reduce taxes, we reduce regulation, we increase energy independence and the economy does well, and all these people in this room get wealthier. There's a lot of Democrats who don't have anything to sell after that, so they need it to fail. And that's what worries me if the Democrats take the House.
Mick Mulvaney on spending:
Even those Democrats who worry about the deficit, we have a fundamental disagreement over how to solve the problem. We think it's growth and spending restraint and they think it's higher taxes. That is a fundamental difference. And that is what worries me again about Democrat control. Not that they don't worry about the deficit - they don't worry about it as much as they say, but even those that worry about it want to solve it by raising taxes, which I think we're proving doesn't work.
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