Larry Kudlow: Think Reagan, Not Nixon-Ford

KUDLOW Think Reagan not ░░░░░░░░ Ford And that is ░░░░░░░░ subject of The Riff ░░░░░░░░ Senate Majority Leader John ░░░░░░░░ has set an April ░░░░░░░░ deadline for a final ░░░░░░░░ between the House and ░░░░░░░░ Senate Republicans on a ░░░░░░░░ resolution that will form ░░░░░░░░ backbone for one big ░░░░░░░░ tax cut bill Well ░░░░░░░░ s hope he s ░░░░░░░░ Let s hope both ░░░░░░░░ meet the deadline and ░░░░░░░░ s plenty of work ░░░░░░░░ do It s become ░░░░░░░░ now for some conservatives ░░░░░░░░ beat up on the ░░░░░░░░ Republicans for going too ░░░░░░░░ Well maybe so but ░░░░░░░░ Finance Chair Mike Crapo ░░░░░░░░ been working hard on ░░░░░░░░ big beautiful tax cut ░░░░░░░░ Numerous senators are working ░░░░░░░░ translate Elon Musk s ░░░░░░░░ budget savings into at ░░░░░░░░ one and perhaps more ░░░░░░░░ packages that would undo ░░░░░░░░ by essentially ripping up ░░░░░░░░ check There is a ░░░░░░░░ budget package for the ░░░░░░░░ deportations energy reform and ░░░░░░░░ increases Shouldn t be ░░░░░░░░ hard to graft Mr ░░░░░░░░ s tax cut plan ░░░░░░░░ it However the House ░░░░░░░░ has a lot of ░░░░░░░░ to do as well ░░░░░░░░ it is a miracle ░░░░░░░░ Speaker Mike Johnson got ░░░░░░░░ budget passed and I ░░░░░░░░ glad he drew first ░░░░░░░░ but there are a ░░░░░░░░ of problems with that ░░░░░░░░ resolution For one they ░░░░░░░░ t make the Trump ░░░░░░░░ cuts permanent For another ░░░░░░░░ does not include Senator ░░░░░░░░ s current policy baseline ░░░░░░░░ is an accounting device ░░░░░░░░ makes the tax cuts ░░░░░░░░ It was used before ░░░░░░░░ former President Obama and ░░░░░░░░ doesn t have to ░░░░░░░░ rescored every few years ░░░░░░░░ the House has produced ░░░░░░░░ gimmicky linkage between spending ░░░░░░░░ and tax cuts and ░░░░░░░░ is a big mistake ░░░░░░░░ reminds me of the ░░░░░░░░ Reagan years when Republicans ░░░░░░░░ waited to cut the ░░░░░░░░ before they cut taxes ░░░░░░░░ since they never cut ░░░░░░░░ deficit or spending they ░░░░░░░░ cut taxes This is ░░░░░░░░ fortunately Reagan broke that ░░░░░░░░ tax dogma which was ░░░░░░░░ old Nixon Ford approach ░░░░░░░░ some House Republicans have ░░░░░░░░ back into that same ░░░░░░░░ tax trap Another problem ░░░░░░░░ both the Senate and ░░░░░░░░ House Republicans is Trump ░░░░░░░░ cuts 1 0 and ░░░░░░░░ 0 The current policy ░░░░░░░░ only applies to Trump ░░░░░░░░ 0 You could put ░░░░░░░░ both together in one ░░░░░░░░ but that remains to ░░░░░░░░ seen That would require ░░░░░░░░ Major League dynamic growth ░░░░░░░░ to supply Laffer curve ░░░░░░░░ So in other words ░░░░░░░░ Republican Houses are long ░░░░░░░░ s throw from a ░░░░░░░░ cut driven blue collar ░░░░░░░░ And that is The ░░░░░░░░