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00:00IT AND OTHER ISSUES. THANK YOU FOR JOINING US. LET ME GET STRAIGHT TO THE MATTER. WILL A REPEAL OF OBAMACARE ALSO INCLUDE A REPEAL OF THE TAXES THAT FUND THE SUBSIDIES NEEDED TO MAKE OUT -- HEALTH CARE AFFORDABLE? >> YES, IT WILL. THOSE TAXES ARE CAUSING REAL DAMAGES TO FAMILIES, SMALL BUSINESSES, ALONG WITH THE KEY MANDATES TO DRIVE UP THE EXPENSE OF OBAMACARE, IT ALL NEEDS TO BE REPEALED IMMEDIATELY. LOOK, OBAMACARE IS GETTING WORSE. IT'S FAILED, IT'S GETTING WORSE, WE NEED TO SEND A CLEAR SIGNAL THAT RELIEF IS ON THE WAY. OLIVER: WHEN YOU TAKE THE TAXES AWAY THAT ARE ESSENTIALLY FUNDING THE SUBSIDIES TO KEEP IT GOING, WHAT IS IN PLACE TO FUND WHATEVER REPLACEMENT YOU HAVE? OR IS THERE A TIME WHEN THERE IS NOTHING BACKING IT? KEVIN: UNLIKE OBAMACARE, WHICH WAS MORE THAN 2000 PAGES LONG AND WAS RUSHED THROUGH THE HOUSE AND SENATE WITH NO ONE ANYWHERE IN AMERICA UNDERSTANDING EXACTLY WHAT IT IS, REPUBLICANS ARE NOT GOING TO DO THAT. WE ARE TAKING A THOUGHT. BY STEP APPROACH TO REPLACE AND PROVIDE AFFORDABLE HEALTH CARE THAT IS TAILORED NOT TO WASHINGTON, BUT TAILORED TO THE NEEDS OF AMERICANS. WE HAVE A PLAN THAT WE UNVEILED IN JUNE THAT IN EFFECT TAKES THE HORRIBLE BUREAUCRACY OF OBAMACARE WITH ALL THE MANDATES AND TAXES AND HIGHER COSTS AND REPLACES IT WITH THE CONCEPT OF A HEALTH CARE BACKPACK. AMERICANS WILL HAVE THE OPPORTUNITY AND CHOICE TO PICK A PLAN THAT IS RIGHT FOR THEM, THAT TRAVELS WITH THEM THROUGHOUT THEIR LIFE, FROM JOB TO JOB. IF THEY WANT TO START A BUSINESS OR A FAMILY, EVEN INTO RETIREMENT. IN THE BACKPACK, OTHER TOOLS THAT YOU NEED, CONTROL OF YOUR ELECTRONIC MEDICAL RECORDS. SO THAT YOU CAN CHOOSE TO GIVE IT TO YOUR NEW DOCTOR WITH EASY ACCESS TO YOUR HEALTH SAVINGS ACCOUNT, ALLOWING FAMILIES TO MORE AFFORDABLY DEAL WITH IT. SCARLET: I APPRECIATE YOU SAYING THOUGHTFUL APPROACH. WE ARE SEEING A STRONG PUSH IN THE SENATE TO DELAY THE APPEAL. -- REPEAL. DO YOU SUPPORT THAT MOVE TO DELAY THE REPEAL IN ORDER TO COME UP WITH A REPLACEMENT FIRST? KEVIN: HOUSE REPUBLICANS ARE GOING TO MOVE FORWARD WITH REPEALING THESE TAXES AND THE KEY MANDATE PROVIDING RELIEF TO FAMILIES THAT JUST CAN'T AFFORD OBAMACARE. AND WE ARE GOING TO, WHEN POSSIBLE, BEGIN THE STEP-BY-STEP PROCESS TO REVISE AND REPLACE THE ELEMENTS. AS WE KNOW, GIVING PEOPLE HEALTH CARE THE IS PERSONALIZED TO THEM THAT THEY CAN AFFORD. WE WILL NEED CHANGES IN THE INSURANCE MARKET. WE WANT TO HAVE MORE INNOVATIVE, AFFORDABLE PRODUCTS AVAILABLE TO THEM THAT AREN'T IN OBAMACARE TODAY. THAT WILL TAKE SOME TIME. THE ACTION TO PUT THAT IN PLACE STARTS RIGHT NOW AND THAT IS WHERE WE ARE GOING TO MOVE. OLIVER: ONE OF THE THINGS THAT HAS BEEN REPEATED BY REPUBLICANS IS THAT THEY HAVE BEEN GOING TO GO ABOUT REPEAL REGARDLESS OF WHETHER OR NOT DEMOCRATS HAVE BEEN ON BOARD WITH THEM. ON THE SHOW LAST WEEK, THEY SAID THAT ONE OF THE THINGS THEY DON'T LIKE ABOUT OBAMACARE WAS ONE OF THE POLITICAL THINGS THAT IT WAS FOR ONE PARTY. ARE YOU NOT CONCERNED THAT THIS WILL BE A ONE-SIDED THESE OF LEGISLATION? >> FROM MANY YEARS DEMOCRATS HAVE SAID THAT OBAMACARE IS FLAWED AND IT NEEDS TO BE FIXED AND NOW IS THERE A CHANCE TO ACTUALLY FIX THE KEY ELEMENTS. FIRST, BY REPEALING ALL OF THE EGREGIOUS TAXES AND MANDATES, WE CAN HELP TO MAKE HEALTH CARE MORE AFFORDABLE TO AMERICANS BY ALLOWING PEOPLE GREATER CHOICE AND MORE AFFORDABILITY, YOU CAN HELP MORE PEOPLE IN HEALTH CARE. I'M CONFIDENT THAT OVERTIME THE REPUBLICAN APPROACH OF THE HEALTH CARE BACKPACK WILL COVER MORE PEOPLE AFFORDABLY THAN OBAMACARE. THERE'S A DIFFERENCE BETWEEN AN INSURANCE CARD AND AFFORDABLE HEALTH CARE AND THAT IS WHAT AMERICANS ARE TELLING IS LOUD AND CLEAR. SCARLET: I WANT TO SHIFT YEARS NOW TO TAXES. THE TRANSITION TEAM HAD A MEETING WITH PAUL RYAN LAST NIGHT. CAN YOU SHED ANY LIGHT ON WHETHER THE TRUMP TRANSITION TEAM AT THE HOUSE HAS AGREED TO PURSUE CORPORATE TAX CHANGES AND INDIVIDUAL TAX CHANGES IN A SINGLE BILL, RATHER THAN SEPARATELY? >> RIGHT NOW THE DISCUSSIONS ARE ONGOING WITH THE SPEAKER, MYSELF, WITH EVERYONE IN THE TRUMP TEAM ABOUT HOW BEST TO GET THE ECONOMY GOING. WE KNOW THAT OUR BUSINESSES ARE COMPETING WITH ONE HAND TIED BEHIND THEIR BACK IN AMERICA AND AROUND THE WORLD. WE ARE GOING TO CHANGE THAT AND LEAPFROG AMERICA BACK INTO THE LEAD OF THE PACK. TAX REFORM NEEDS TO INCLUDE ALL THE NEW GROWTH ELEMENTS TO GET THE ECONOMY GOING AND WE BELIEVE THAT FOR MOST AMERICANS, 95% OF THEM, WE CAN HAVE A TAX CODE SO SIMPLE THAT THEY CAN FILE IT ON A POSTCARD AND WE INTEND DUST UP THE IRS AND REDESIGN IT INTO AN AGENCY FOCUSED ON CUSTOMER SERVICE. WE AGREE ON THOSE ELEMENTS. OLIVER: ONE OF THE TAXES THAT HAS BEEN FLOATED AS AN IDEA IS THE ESTATE TAX. IS THAT SOMETHING YOU ARE LOOKING INTO? KEVIN: IN THE HOUSE BLUEPRINT WE PERMANENTLY ELIMINATE THE DEATH TAX. IT STILL THE NUMBER ONE REASON THAT FAMILY-OWNED FARMS AND BUSINESSES ARE PASSED DOWN TO THE NEXT GENERATION. IT HAS ROBBED $1 TRILLION IN CAPITAL FROM THE U.S. ECONOMY AND FRANKLY, WHAT, FOR A DAY AND A HALF OF FEDERAL SPENDING, SO MUCH MORE HARM THAN GOOD. WE ARE GOING TO GET SMALL BUSINESSES, FAMILY-OWNED FARMS, THE FIRST CHANCE THEY HAVE HAD SINCE 1916 TO TAKE THEIR HARD-EARNED NEST EGG AND GIVE IT TO THEIR CHILDREN AND GRANDCHILDREN. SCARLET: WHAT IS THE LEVEL OF URGENCY WHEN IT COMES TO TARGETING THE ESTATE TAX VERSUS OTHER ELEMENTS? KEVIN: WE REALLY BELIEVE THAT GROWTH COMES FROM THREE MAJOR AREAS. FIRST, WE PROPOSE THE LOWEST RATES IN LOCAL BUSINESSES IN MODERN HISTORY SO THEY CAN COMPETE ANYWHERE, ESPECIALLY HERE AT HOME. FOR THE FIRST TIME, UNLIMITED, A WRITE OFF IMMEDIATELY OF ALL OF THAT NEW BUSINESS INVESTMENT. SOFTWARE TECHNOLOGY REALLY DRIVES THESE JOBS. THEN WE REDESIGNED THE INTERNATIONAL TAX CODE TO MEET WHAT OUR COMPETITORS ARE ALREADY DOING BECAUSE THE GOAL EXISTS. WE WANT TO NOT ONLY BECOME A MAGNET FOR THE 21ST CENTURY FOR THOSE NEW JOBS, THOSE MANUFACTURING PLANTS, WE ARE GOING TO ELIMINATE EVERY TAX REASON TO MOVE U.S. JOBS OR TECHNOLOGY OR HEADQUARTERS OVERSEAS. IT ALL FITS TOGETHER. OLIVER: ANOTHER PROPOSAL IS TAXING IMPORTS VERSUS EXPORTS. ESSENTIALLY GIVING MUCH MORE LEEWAY TO EXPORTS, MUCH HIGHER TAX ON IMPORTS. IS THERE A CONCERNED THAT COULD DRIVE STRENGTHEN THE DOLLAR, WHICH WE HAVE ALREADY SEEN STRENGTHENING SINCE THE ELECTION TO THE -- TO A POINT? KEVIN: WE KNOW THAT ALL OF OUR COMPETITORS HAVE ADJUSTED TAXES AND WE DON'T. AS A RESULT, MADE IN AMERICA PRODUCTS ARE AT A MAJOR DISADVANTAGE HERE. SO, WE LEVELED THE PLAYING FIELD AND ARE GOING TO TAX EXPORTS AND IMPORTS EQUALLY IN AMERICA, TAKING THAT TAX OFF THE MADE IN AMERICA PRODUCTS BEING SOLD AROUND THE WORLD, JUST AS COMPETITORS DO FOR THEIR PRODUCTS AROUND THE WORLD. AS A RESULT, BOY, THAT CREATES TRUE COMPETITION AND CERTAINLY STRENGTHENS THE U.S. ECONOMY AND MAYBE MOST IMPORTANTLY ENSURES THAT AMERICA HAS NO MORE TAX INCENTIVES TO PUSH COMPANIES IN THOSE JOBS OVERSEAS.

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Rep. Brady: Obamacare Repeal Will Include Repeal of Taxes

Republican Congressman Kevin Brady, chairman of the House Ways and Means Committee, discusses the potential repeal of the Affordable Care Act and GOP strategy on health care. He speaks on “Bloomberg Markets.” (Source: Bloomberg)

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