Sen Pat Toomey

Newsmaker Interviews
Tuesday, November 21st

US Sen Pat Toomey with WILK's Sue Henry


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

Here comes US senator to me. There are better power and very very well and that we and one of my favorite weeks every Thanksgiving son was in line. And I'm just saying I really feel honored I don't know how many of your callers get their own bumper music. But the fact that you provide debt now I think gobbling Turkey in the background of the ninth such urban. Holiday season. I'm so I'm fine with that little you know so little tweak. But I think it's great and I got my own problems. It's the way we roll their patents it's who we are it's how I guess I'll answer that Iraq. So anyway Angus the big story obviously for people like us pat is the the tax legislation in the senate the houses. Tax rallies and so. I know they're different but your from the Senate's Telus about why you feel strongly about what this and it has put forward. And what parts of this did you work on personally. Well I worked out most of it about her that further that they a project the mine are up for some time now. But look here's the thing that I think people should. Keep in mind to speak. Ideas in the tax reform the first that the simple straightforward one. We're cutting taxes on virtually every battling I'm working class family. The folks who get up everyday and go to work in and say their family sells them that they check the sites that caught up modest savings. That approach gonna get attacked. And that the fact that in our bill that kind of set the second big thing in our bill as we want to have. Competitive. Business we wanna be able to compete in the global economy against the anyone anywhere in the world and be able to compete and win so that American workers. Are able to do more business so our business reforms. Our comprehensive at the first time we address this aspect of the tax code in 1986. And I am convinced that going to significantly increase. Investment in the United States new business start out this investment expansion. And new hiring. With upward pressure on wages I think it's gonna be really really get for the vote but I represent. Those with a super exciting and hopefully. We will be able to get a bill across the finish line in the senate sometime next week. That's the goal an uproar he. Okay some people say though pat that this. Is yet another giveaways. Another kiss for that for the rich and yeah ideas do you have. Well that first of all let me make it simple observation and I learned a long time ago that if they Republican gets up in the morning importance up a cup of coffee. There are democratic congressman who accused him of acts at church. It is just reflects it doesn't matter remember they were saying that about our bill before the bill was written. So that is what they say I with the church. People who look at the actual facts. Go to our web site go to the senate. Republican web site you concede that failure to see this summary heated seat belt. It is a tax reductions for middle income were treated the actor to almost everyone. But the almost aren't really applies you. High income high net worth individuals there's a handful of votes in that category might see a net act increased by virtuous some of paper billing but. Really virtually every. Hardworking. Middle income lower income family is gonna sit back. A crack and and now I must ask you how long that may last for people not because I guess that's another criticism that we gap is that it will be. Short lives and then pretty soon then the government will lead back at at whacking people left and right with higher taxes. So. That put them mostly non whom we elect and reelect back tiger and they will they liked access. Republican nominee denied it but we wanted to we wanna make the changes to the individual that act out. And the implication that is in our bill for. Working people we want to make that common our democratic colleagues have not wanted to work without on the overall project. And so weak that he used the procedure that allows us to pass legislation in the senate with a simple majority. In other words we've got to make sure that a minority. Of senators cannot kill list by filibuster which is what the Democrats. Told us Spain and the do. So in order dispute that we do have some unfortunate and bring. Of those constraints are the reason bet he. Tax saving her individual that spyware. And nine years from now but it mine near the way and I'm competent but between now and then will be able put them out and I hope will be able to make it I'm. That's the goal. RA and I think I was thinking about what this is that in the future. If the United States economy. Is. And worrying. It would give people opportunity beyond these tax cuts and other words I I don't wanna use too much of a simple analogy that this. To me seems to be an instance we wanna like prime and the pomp to get the pump gone well so that the water. Flows freely. Yeah I mean you can look at it that way but this is designed to. Encourage first of all the literally knew that three trillion dollars overseas. Held in the subsidiaries of United States based multinational. We're gonna take away the punishment that exist in the current tax code if you return that money you America that's a ridiculous. Our current tax code is if you bring that money home and invest that here you get whacked with a huge additional facts. We do away with that. What do you think gonna happen with a lot of that money a lot of it's gonna come back home because we're eliminating that. Punishment. That is currently. That when you do bring in now that I mean investment. We're gonna allow them that this one may go out on buying new equipment new vehicles new Crocs do moving a new machinery. They're going to be able to deduct the cost but that in the year that paper. Which would make sense. Well guess what those Americans who work to make all of those things there's going to be more demand for those workers. And then when companies bias they need someone operate that equipment. That's going to be more jobs so. You're at the net effect that that is going to be. To encourage expansion of existing business creation of new business all of which needs additional workers. And right now nationally our unemployment rate is about four or 1%. The real unemployment rate in terms of people who are underemployed is higher than that but it's much much lower than a panel while the goal of this is that set off. A bidding competition among business where they have to pay ever higher wages to get the workers they need. That means a higher standard of living for the people are for off. Packed house and it did addition. The taking out of that the health care mandate has been frightened obviously that was so a lot of mixed emotions a lot of people feel that that was kinda tacked on in there and is. You know it just said a way to add some they need as a really line it does how does that it's. Dove tail into this bill. Well it's it is yet another way in which we cut taxes you know. So first of all of that back for a second that people are my democratic colleagues who were sent an outrage. That we would repeal the individual mandate. Are you a question for it if obamacare is working so well why do people have to be forced to buy it. That is why they need to be forced to buy it and subject to a tax penalty if they don't have that such a good deal. Why are people perfectly happy. It just sign up and take the deal I'll play a lot because that's not a very good deal. For a lot of folks. All we're saying is look if if you want to that we don't change. The availability of obamacare with all of its subsidies and all of that featured a week you'd say if you decide that the not a that they appear family then. You don't have the buy it and you will not be subject of the pack so the bat but in 83%. Of the Pennsylvanian who paid it back. Make 50000 dollars or less if the people who can't afford these outrageously overpriced and turns out we're no longer gonna hit them with attack. That is yet another tax cut of course it's that they are on fire for the art some of our college who refused to acknowledge the fault of Obama. Well what they're also saying noses is the critics of this that is if you do stripped this out it may mean the people who have. Obamacare. Will be paying higher premiums in the future due to their reduction of people. In the interest bulls are right. But it will also do is it'll make it possible that have a whole new category that would term plan which outlawed now. And and that creates the opportunity. To have. More competition. More services that people actually want rather than what they're mandated survive by obamacare. So I I I reject that idea I think it's going to be much more responsive. To let him he's actually want and need. OK so what you're saying is that if this is done. There won't be that it's that the like the qualifier for some of these plans because little did lose their over this that they didn't like. Because of this but that that the qualifier or the standard won't be there anymore is that right. And it in time you'll be able to purchase. It's very wide range plan including plants that are now allowed to. That's the goal when we get to that point then we got. We got people back in control of their own health insurance or on health care rather than a government bureaucracy. The odds that there will be legislation. That is. Except I was say acceptable for both the house and senate by the end of the year. The actual or he may soon. I think the odds are pretty good definitely better than even. I don't know whether it's who you know 7030 year 75 point I've I don't know exactly what the but without or without the belt. And it's very similar in that structure I think the senate bill is it better by there reasonable people can disagree about that. We have half hour bill the Senate Finance Committee. I have that out of committee did that last week without a single Republican no votes but the idea is to go to the senate or next week. Well of course we will meet the whole fifty out of 52 Republican senators. With the vice president in the hearing if he needed to break and bet that's the next big step forward has been in the senate I think right now as we as we at least at this point it would probably have. I don't know 4748. Maybe maybe if he votes for it. But there are definitely some Republican senators who have term we're working we've been working for this past week and we're working through this week. Who tried to address those concerns. Make changes that we have to. So that will have with this he both swinging and if we can do that then our chances of reaching an agreement with the house will be very high. And that we should get something done by the end of the year the president is eager to find it in a law. So while I'm I'm content out the most for. A pack and I just threw just one more thing before we let ego I yesterday the president. Name North Korea a state sponsor of terrorism your reaction to that. Well that and accurate description North Korea an and the fact is they do I'd support and sponsor terrorism. They are themselves. Guilty of terroristic threat from the development of their nuclear. Capability and their rep. Who I used them to attack America and American interest and what that does that enable and enabled who. It helped to coordinate global it ever tightening global sanctions would need to be imposed on north for. Our rights Pat Toomey as always thanks for joining us have a happy Thanksgiving multifamily and we look forward to what happens in the senate next week it sounds like it's going to be a very interesting time indeed. It could be thanks very much for having me happy Thanksgiving you Vanilla and.