US Senator Pat Toomey (R)

Newsmaker Interviews
Friday, February 2nd

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Bat I was ball order rambled man and senator Tim you've never heard bits and quite liked in my never quite heard that version before then all these years I thought Greg Allman didn't really pretty well okay with a button. Now I mean this all the standards there is standard that is our producer Johnny Lucas Johnny unbelievable he is he really is unbelievable yes I'll leave it at that. Stopping by today thanks strap me in person it exactly you do that found him I was talking votes and gracious of you to do that. No other elected official does that except you. I'm surprised I remain surprised to hear that. I'm delighted to spend a little time chatting with you and your listeners and I I do with the other radios stations do I know that's a shock to you but it it is truth hurt and but it's a great way to laugh. You know communicate and now many you know I'll I like the shows where people can call in and we can have a discussion about whatever some people's minds so thanks forgive me this chance sure if it will do McLellan it's 570830098. Or 180437. 00 money you can also send this text messages if you have something to say. First of all because it happened this week the state of the union sie they're sitting next to senator Ted Cruz. Tell me about that being in the chamber and maybe how this speech went over with few. Well I'll tell you it was too long I. At those who say there goes a little long but. Having said that I have no other criticisms are I think it was pretty straightforward garden variety state of the union the president stood there. And went to a recitation of the accomplishments of the last year which are really very significant. Talked about how strong the economy is for the most part the economy really has not come back very very strongly. Talked about his priority agenda items for the coming year. And it I will say. To the credit of the president it was optimistic I thought it was patriotic I thought it was hopeful. Am on so a good solid state of the union. And sometimes people are critical of of peachtree schism and and the fact that he mentioned America but for current allowed he's the sit in I don't under yeah yeah yeah. I I I don't I never will I was raised. You know in a Stanley where it was just understood that you love your country and you respected your country and its institutions in the flag and you now and the idea that somehow there's something wrong with being patriotic when you live in the best country in the history of the world. I'm I don't get it I never well. I'm I'm I love this country and I don't tire sign very kept as so that's the analysis of seeing the union announced time to talk about the tax cuts which did. Actually start to show up and that that's always said would be dead the proof is in the putting that they would show up. In February paychecks and indeed I worked summer house and the money ditched by Dick get a tax cut. Let's talk about so that if from your perspective because I know you put your heart and soul to this tax cut Elena I saw a lot of commentators on TV talking about how. This is really her baby. Well it was a tremendous amount of work but I really am thrilled that we were able to get the stunned Suk I'm mention I think there's three ways that. That the folks Ira percent all across Pennsylvania are already benefiting and we'll continue to benefit for. I'm from so first. We've seen this wave of announcements from mostly large employers to not only large employers. Announcing pay raises and bonuses and additional contributions to pensions. Over three million people across America already many hundreds of companies that have announced this publicly. Untold numbers of other smaller businesses that we don't hear from so. That's not everyone but it's not insignificant and that's number one number two is what you just alluded to. Almost everyone is gonna hold less money in federal taxes for their Tony eighteen income than they did for their Tony seventeen income. That's just because we lower taxes right we lowered rates we increase the amount of income a person or couple can earn without having to pay any tax at all. We increase the standard deduction we now we doubled the child tax credit. So people will see an increasing their take home pay directly starting like now. And then the third and and I think over time this could be the biggest of the three actually. We've really allowed our business to be much more competitive. We have lowered the cost of running a business and dramatically lowered the cost of making new investment. So a small medium size or large company that is looking at buying a new. On new machinery new vehicles new equipment building in new plant all of those things are less expensive because of the tax reform and that means. There will be more of them and people have jobs making that equipment making those vehicles making them machinery. And then other people get the job of operating that equipment that machinery those people so. This is going to create more jobs and at a time when the unemployment rate is relatively low. Dad almost certainly means upward pressure on wages actions on this morning may be the jobs number. Slightly above the average for last year. Any uptick in wages and I think that's gonna continue so. The bottom line. The people that Ira percent are going to earn more they're gonna keep more of what they earned and they're gonna have a higher standard of living. That's what this is all about you know other naysayers who say that the government uses tax money because of its. Multi trillion dollar deficit and now were not putting as much money towards. Paying down that multi trillion is at 1418 who knows where what does it do you know gas so it's about a fifteen trillion dollars in debts are right so that's the accumulated deficits in the past years that we borrowed and so the dead as. Piled up and the debt is at a level that I think is too high and our mean you'll deficit the shortfall between what we spend and what we bring in. Is also I think is too high but so here's the question. Does the tax reform mean that the federal government will bring in less money or we'll bring in more money. And I'm here to tell you I think he will result in the federal government bringing in more money. And the reason is we're gonna have a larger economy on which to tax. So it is not the case that ever higher tax rates maximize the revenue for the federal government because as tax rates get too high. You reduce the incentive to work and save and invest you have a smaller economy there's less attacks. That case in point. Ronald Reagan famously cut taxes dramatically in the 1980s right. If you look I have gone back many times if you look at 1980 and you look at 1990. The revenue collected by the federal government in 1990. In a single year. Was twice what was being collected in 1980 despite much lower tax rates on and we took that. Individual rate from 28 I'm a chart from 70%. Down at 28 it ended up in the low thirties. Much much lower rates and yet more revenue because we had a bigger economy. That's I think we're gonna do with us. How much credit can and the app policies of of the trap administration take for this because and other people who say that. It is this a because of what happened under pres these are his questions we always talk about it and I ask you Sam. How much credit can Donald Trump take for this one's for when you say this you mean that the growth and a strong economy economy yet. I think. I think a lot on now honestly I think congresses or some the credit to the president on can't. Change the tax code by himself and some of us were really really hard. On all the details and making sure we rounded up the votes but look I think there's two big. Categories. Of things that the president and congress did that have contributed enormously one. The massive excessive regulation of the Obama Iraq. Where they wanted to control every single thing any business could do the terms under which he could do it I mean it was. Tremendous regulatory overreach that was stifling economic growth. President trump. Has been rolling that back administratively. Congress has been rolling that back through legislation. That's creating an environment that's much more conducive to growing your business and starting a new once so that's number one and number two. The president does absolutely deserves his share of the credit for the tax reform that is also encouraging. All the activity that we're seeing the investment of growth so hot it I think. Defies all logic to suggest that Barack Obama deserves credit for this because his policies were the very policies are holding us back he was under his presidency. When he got to do everything he wanted to do remember that Democrats had complete control of the elected government. In the early years and they did what they wanted to do right and they're raised taxes took over healthcare pass all kinds of Massa regulation. And then we had really feeble growth. All of a sudden new administration comes in congress works with the new president trump. Rollback the regulation lower taxes reform our tax code and the economy's booming. And we're supposed to say that's Barack Obama is doing I'm not by and it. Well if you were here at all he would have her courts that but we just want to see what you thought. Try and rights and and he says he's from Philadelphia so it's good that the signals so strong today. Can you senator to me about his stance with triggers to the FBI. Man now and if he has confidence and Robert Mueller and his investigations that's a multi tiered question when he's the habits an important question am I'm glad that I'm glad it's come up Tom. So I think that there are important questions about whether the FBI decision. To. Electronically surveil to eavesdrop on members of the trump campaign committee whether those decisions. Were. Politically motivated. And whether those decisions were. Held to the normal standard that the FBI. Should be helped him. This memo I think. I've been able to read and know senators have been allowed to read and I think senators unveiled to read it but in any case this memo. Up purports to shed light on stranded as the compilation of a whole lot of research and hearings and investigation that the House Intelligence Committee has undergone it's about four pages is my understanding. And I just have reason to believe that it does in fact suggests that at least part of the FBI's rationale for wiretapping. Trump campaign people. Was. Based on a DOS there which was created. For opposition research purposes and paid for by the Clinton Campaign okay if that's true we ought to know it. Now the FBI has pushed back in Sarajevo who we should release us. But it's interesting to note what the reason they are signing for wider shouldn't be released what they're saying is. There are errors of omission. OK so there's something missing. They didn't say they're factual errors in the report they didn't say that there's a national security risk if there is by the way that needs to be redacted that would need to be blacked out. I'm but look I think the American people need to know did the FBI. Behave properly. Or was their political bias there and if there's a missions if there's information that's missing. Then I also think we should release the democratic report they've done a different analysis released that to implement and let the FBI can mountains say what's missing tell us what's missing. We need to get to the bottom. Of absolutely need to get the bond of Russian. Interference in our election we need to get to the bottom of whether or not the trump campaign cooperated in some ways with Russians so far there's no evidence that they did. And we absolutely need to get to the bottom of whether the FBI. Was inappropriately wiretapping American citizens. US senator Pat Toomey is with us in the studio on WAOK if you have questions it's 5708830098. Or 180437. 0098. You can also send us a text message at 570830098. So if you have anything up please bring it to the table okay US senator Pat Toomey is an hour studio this is jam of pray all who has a question Jim go ahead. Yeah it's a pleasure to speak PI go to Korea and I loved the job you're doing and first stop. I appreciate. That that might actually about is that dot com bill that that proposed by the president I think it got a lot of good aspects. What questions they have about that one would be. If these young men are illegal but they're going to serve in the military into two years. I think they should automatically become a United States finish and if they're willing to die for this country I think that you actually be part of like to accept what bill because they. Very important cultural loyalty to the country. I think the second thing has been hurt the trajectory work that they want to let her go to school. How about you implement. Like maybe a hundred or 200 dollars and called out of the one point two million and sort of border walk. Which I think would give more finding work a third I don't believe Democrats and allow present a trumpet the Republicans got passed immigration bill. Because they don't want they wanna keep that wedge issue I believe they don't want to have them say look at present trumpet that Republicans. I don't want to help joys I believe that I culprits are. Amylin will elect pat answer Ali and your concerns about well Jim you were you raised various Shing is very valid concerns. I hope that. The Democrats come to a different conclusion and the reason weren't why they might. This it's pretty amazing if you if you were able to catch the president's State of the Union Address. The fact is the president is offering a more generous. Solution for the -- people. Then Barack Obama ever did. President trump is saying first of all. He wants to make. Legal permanent legal status here not just for the 690000. People who signed up for Dhaka. But for the one point eight million people who were eligible. But two thirds of whom decided not to not only that he wants to go beyond just granting illegal status and saying. Within ten to twelve years you can become a US citizen full blown US citizen like everyone else. So it is a very very generous offer it applies to everyone who's eligible for dock at its US citizenship. What more is there to offer people. Despite the fact that they came here illegally. And the reason is of course. They were children they weren't responsible. For that decision in return for that the president is saying and and I have to say I think this is very reasonable proposition. In return for that. Let's agree to spend the money to actually achieve border security on our southern border that's up and Porsche that would be a wall some of it is. Other forms of barriers there's technology there's manpower there's a combination of tools so that we can actually control our border and then finally. If we're going to allow this one point eight million people to become. Newly American citizens. And we should also. Use this as an occasion to revise. The chain migration right the ability. Of citizens to bring in extended family because that could multiply to many many millions of people because everybody has an extended family. The reason this is going to be a difficult thing for the Democrats to walk away from. Is because it is so generous to these kids they're not kids anymore but they were children when they came here illegally. And the opera is to not just grant them legal status but put them on a path to US citizenship. Remove from their hand any cloud of war is about deportation. This is a very very big deal for those folks now there are. You know it immigrant activists. In oh left wing of the Democratic Party. Cool want all that and wanna make sure we don't have border security. How do you defend that how do you defend the idea. That come look everything's fine except we gotta make sure we don't have a secure border. I think that's really hard proposition that offense I still think there's a chance of getting something that you do because this has been kicked around for so many decade but there's a stent. Dynamic now that didn't occur before which is right president Obama's docket right there was a decision a unilateral executive decision that he did not have the authority to not have the legal authority to issue. To protect this population. When president trump came along its that this is gonna end in March because it's illegal and it should be replaced with a legal legislation an actual law. That was the right decision and it creates. Any odd dynamic where it's going to be hard for the Democrats explain why they're not. Going along with us during this is Amy of that Scranton with a question for senator to Amy Amy. I am yes my question echoed back to be the tax plan and I'm I have a question regarding police officers he's spent senator Toomey that. You know people we're going to under the plan be able to get. I've retain more of their money. But there also in the police officer case are not going to be able to deduct their uniforms are cost of cleaning mound you'd think that that's. Amount of money that they keep. Is going to sufficiently cover. Expenses backed. The American people are now I'm not going to be able to conduct. Amy that I I was not aware of that that's a pretty. Teens your question directly I do suspect that the net savings is kind of more than offset. Then added cost there are some deductions that people are losing and that's absolutely true Amy is. Sharing one that I was on aware of but as a general matter no we we we know this because the folks who do this analysis it's called the joint tax committee nonpartisan. Professionals who analyze this they've come to the conclusion that the net effect after all is said and done. So is a tax savings for about 93%. Of people who pay taxes individuals and families. So yes I think in the overwhelming vast majority of cases police officers. Like the rest of us will have a tax savings the issue of the exorbitant. Price of prescriptions was raised before you got here also highlights a tattoo and more broad terms about. The possibility. Of for a private industry getting together and and tackling health care. What could be on the horizon to panic curve or stem the cost of prescription drugs for people. Well it is spent are really really challenging issue one of the ways that I am focused in in my time in the senate. Is to try to expedite the process by which generic drugs can come into the marketplace and compete. Once generic drugs are able to compete with the branded prescription drugs prices collapse right and generic drugs are so so much more affordable. And in many cases there are big barriers to bringing in new generic drug on the market so. I'm hoping that will be able to make some more progress I think we've got a really good FDA director Scott Gottlieb the new director of the Food and Drug Administration. Really Smart guy understands this wants to make sure that consumers have lower costs and more options so I'm encouraged by that. You made an allusion to a big story in the last week or so about three John enormous companies are Berkshire Hathaway JPMorgan Chase. And as an Amazon has the third. That they are have announced that they intend to launch an initiative for their own employees to provide health care. I'm really excited about that I really am because I'm in favor. Of experimenting with different payment models different delivery systems will continue. 28 improve actual healthcare through technology into the use of data. And that will continue apace but we have enormous inefficiencies and having enormous costs we have X all kinds of distortions of capacity. I'm I'm very curious to see if these guys can come up with a better system. The ports for their employees I mean they have hundreds of thousands of employees time between the three of them. Then it could be a model that will work beyond that so I I encourage them I wish him good luck. That is currently come accent is as ever her tough guys sit we'll have to save the legal work on IRA unicenter pac ten is such a pleasure to have you on the show I know I have to run because you protect scheduled to thank you for stopping by thanks tram missive.