Voter sentiment. Lets go back to Kristen Welker at the white house, Garrett Haake is on capitol hill. Kristen garrett, let me start with you. A lot of folks believing once republicans pass this bill, it will inevitably lead to a fight over entitlements like medicare. What are you hearing on that . Reporter thats almost certainly coming down the pipe, craig. There was a concern this would trigger automatic cuts to medicare and medicaid. Looks like the provisions that require that will probably be waived. The speaker and other republicans have been clear. Theyre not done here and they see this the debate on the deficit part is not over. They see the next conversation on deficit as being a conversation about entitlements. Speaker ryan laid it out on the today show this morning. Are you saying that the growth youre going to get from this tax cut will equal the amount it would cost on the deficit side so that its a wash, so that youre not adding to the deficit at all because of this . Nobody knows the answer to that question because thats in the future. In addition to getting the economy growing faster and getting people in higher paying jobs is we have to control our spending. That we have more work to do. Reporter so, control our spending can be a euphemism for a lot of things, craig. Its clear that entitlement programs are something that this congress and this president are now saying they want to look at early next year. A lot of folks are surprised to hear the speaker of the house there, known for being the policy wonk answer, no one really knows the answer. That was his response to whether this is going to add to the deficit. Reporter better that than to get boxed in with some 100 , absolutely positive quote that it wont and then they find out later. Remember, a lot of the assumptions around this bill, the studies and data that republicans produced to back this up was built on this sort of future actions being taken by congress. Yeah, if we repeal more regulations and if we pass an infrastructure bill and if we do all these other things, heres how the growth model might work. But the congress that exists right now cant promise theyll be able to do those things next year or if a future congress after 2018, which may look very different, will feel the same way. So, hes right in that sense. The deficit implications of this, were just not going to know for a while. President trump last hour already talking about how well these tax cuts will do. Even how this bill repealed obamacare while no one was really looking or paying attention. What does the white house what are they saying about these negative polls . What are they saying about the fact that so Many Americans view this tax cut bill as they know it, as a bill thats largely going to benefit the wealthy and corporations . Reporter well, i think the talking points at the white house are very similar to what were hearing on capitol hill, which is once americans start to feel the effect of this piece of legislation, they will start to like it more. They are predicting a number of americans will start to feel the effects of that tax cut come february. So, well have to wait and see if that happens. But that could be critical to turning around some of those numbers. Now according to our latest nbc news wall street journal polt, 41 of respondents say this tax bill is a bad idea, in part, because of the perception that its going to help the wealthy and hurt the middle class. The reason why there is that perception, to some extents, craig, because the Corporate Tax rate is the biggest tax cut. Its being slashed from 35 to 21 . Most individuals will see a tax cut. Thats not going to be a permanent tax cut. That will lapse in about a decade or so. Thats part of the pushback. And the fact it does repeal the obamacare individual mandate. According to nonpartisan projections, that could leave an additional 13 Million People without Health Insurance. But today President Trump touted that as a positive step that would save the middle class money. Listen to what he had to say during that cabinet meeting. So, in this bill not only do we have massive tax cuts and tax reform, we have essentially repealed obamacare and well come up with something that will be much better. Whether its block grants or taking what we have and doing something terrific. But obamacare has been repealed in this bill. Reporter so, that is a significant part of this legislation. It was one of the more controversial pieces, but it did, in fact, pass. A lot of people, craig, said you cant combine health care with tax reform. Well, republicans today proving that that wasnt the case. They are going to take a big victory lap here in just about two hours or so. House and Senate Republicans about to load up on that those buses that you see right there. Theyre going to come here to the white house. I anticipate we will hear from not only President Trump but likely the Vice President as well as House Speaker paul ryan and Senate Majority leader mitch mcconnell. Well try to get some questions to him as well. But, again, having failed to repeal and replace obamacare, today is a big day for the president , his first major legislative victory. Any word when the president will sign the bill . Reporter i think thats still being worked out. We anticipate hes going to do that likely the official ceremony will be here at the white house. Well have to see if he sort of signs it while hes at maralago. We know hell be leaving to spend his christmas break there. The optics of the president signing a tax bill at maral o maralago. Garrett haake, Kristen Welker at 1600 pennsylvania. Katherine is a columnist for the washington post, ben white, chief economic correspondent for politico, also a cnbc contributor and david, a Senior Editor at the International Business times. Ben, let me start with you, before we get to taxes, the president there saying, quote, obamacare has been repealed in this bill. True or false . False. 100 false. It gets rid of one of the three legs but medicare expansion is there, protection for people with preexisting conditions still there, subsidies for people who buy insurance on the exchanges all still there. So, this probably weakens it a bit, makes the marketplaces less stable, but this is absolutely not an obamacare repeal. As were having this conversation, you see some lawmakers there getting ready to theyre on the bugs. Headed over to the white house. Were going to see a couple of those buses head over as lawmakers and the president get together for some highfiving. It sounded like speaker ryan there was very much open to the idea of touching entitlements despite the fact that President Trump time and time again on the campaign trail vowed that he would not touch entitlements. Is that where you see this is going now . I really doubt it, to be honest with you. Its very hard to cut social security, medicare, medicaid. I think paul ryan would love to do it. Indeed if this is his last year in congress, as we reported before, hes looking at the exits, thats the other part of the paul ryan dream, do this tax reform or cut entitlements. Very unpopular. I dont know how you go from cutting the Corporate Tax rate, cutting rich peoples taxes to slashing the entitlement state and expect to do well in 2018. Good luck to him. I doubt hes able to do it. Gary cohn, they both insisted this bill is going to do wonders for the stock market. Take a listen. I dont think the markets even begun to realize how good these are. So, i think theres a lot more momentum in the stock market. What do those two baskets tell you . Those two baskets tell me these tax cuts are not surprised into the stock market. Can the white house and gary, can they insist, reliably, that this is going to mean a boon for the stock market thats already booming . The stock market is booming in part because corporations are expected to use this windfall theyre getting for a stock buybacks, for dividends, both things that will drive up stock prices. Yes, it is certainly possible that equity markets will continue to grow. Whether or not thats a good gauge of the economy is a separate question, an entirely separate question. Beyond that, its hard to attribute this runup in asset prices in the United States entirely to the tax bill. If you look at whats happening in stock markets elsewhere in the world, theyve been going up just as much or more. And those are companies that are not necessarily going to benefit from the stock market. So, yes, there is some connection between this tax legislation and whats happening in equities but its not the only factor here. Its also, and savannah hit on this this morning on the today show, this idea that corporations who have been sitting on a pile of money for some time are all of a sudden going to take their windfall from this tax bill and pay their workers more. What is that rooted . Fantasy. Really, i mean, companies have lots of cash that theyre sitting on. If you look at the price of stock markets price of equities relative to earnings, it suggests that equitybased financing is very cheap, loans are very cheap to get, Even Companies that are not publicly listed. If you look at small and medium sized companies, they say they have no trouble getting loans. The reason why theyre not investing, theyre not hiring has nothing to do with taxes. It has nothing to do with the availability of capital. They dont see opportunities out there to invest and they dont see reasons to hire and raise wages. The fact theyre going to get this big tax windfall in the form of this tax legislation suggests that nothing is going to change. Theyre just going to pocket it, theyll return it to shareholders. David, republicans have checked off a number of key agenda items by signing this bill, passage of a tax overhaul, elimination of the individual mandate in obamacare, confirmation of Justice Neil Gorsuch to the supreme court, confirmation of a dozen Appellate Court judges. I maintain that is probably the most significant of the president s accomplishments so far. And a number of rollback of obamaera regulations. Also tucked away inside this tax bill, companies will be able to drill in the Arctic National wildlife refuge. This is what their voters wanted. Could this help reverse the sagging poll numbers that the president is seeing, that the gop is seeing . I dont think theres much indication of that when you look at the polling on this tax bill. Im not sure this is what the public wants when you look at those polls. Its hard to take the election that happened in 2016 and say voters were voting for this. President trump candidate trump ran thematically and in some cases specifically against some of the provisions that are in this bill. I mean, as an example, he ran against to close the carried interest loophole and that loophole was not closed in this bill. He ran to bring american jobs back to the United States and not subsidize or incentivize offshoring, there are provisions in this bill to do the exact opposite of that. If youre President Trump, a handful of republicans in congress with real estate holdings, this is a great day for you. This is a great day for paul ryan who owns a number of llcs in his personal Financial Holdings. This is a great day for you because the provisions that were slipped into this bill at the last minute are potentially going to enrich you in a huge way, personally enrich you in a huge way. The question americans are going to be asking is whether it is going to benefit the broad majority of americans who dont have real estate, llcs, who arent commercial real estate moguls. Thats going to be the big question about whether this bill is popular or unpopular. You mentioned speaker ryan. Youve got some other reporting on lawmakers there who have going to personally benefit from the passage of this bill. Who are they and do we can we surmise how much they might benefit from the passage, now that its law . Well, its hard to figure out exactly the amount these legislators and President Trump might benefit because we cant go into in the multilayers of the Shell Companies and llcs and partnerships they have in their holdings. What we can say is the provisions that were included in the bill, a couple of revisions we reported on, one on oil pipeline revisions and another on real estate provisions that when you look at those provisions, the pipeline provision, for instance, ted cruz is somebody who has invested in Master Limited partnerships and theres a provision to reduce taxes on earnings from those. Thats one example. Ron johnson, the senator from wisconsin, has a number of large real estaterelated llcs, so does senator bob corker, who had voted against the senate bill when it didnt include these provisions, and then switched his final vote when this provision was inserted. We dont know the exact number, but we can see which lawmakers own the kind of vehicles that could benefit. My hope moving forward is reporting on this bill and other economic bills will look at lawmakers personal Financial Holdings to see how the Public Policies theyre making could potentially privately benefit them. Ben, i want to remind listeners and viewers what President Trump said about this bill a few months ago at a campaignstyle rally. Take a listen. This our framework includes our commitment that tax reform will protect low income and middle income households. Not the wealthy and wellconnected. Did the president with this bill live up to that promise . No, he didnt. Lets be fair. Most people under this tax bill will get a tax cut in the first couple of years. That includes lower income, middle income, pretty much everyone. Some people wont. Some people get a tax hike. If you live in a state with high state and local taxes. All of the tax cuts for individuals eventually expire and a lot are relatively small. Corporations, permanent, huge tax cut. If you have passthrough income, as david was talking about, you get big tax cuts. If you have a big estate youre handing down to your h eir s, you get big tax cuts. A lot of the wealthy and powerful do well under this. The open question is, does the corporate side eventually help middle and lower income people . Katherine has articulated very well the fact it may not because there is a lot of cash people have right now. No guarantees this trickles down to average folks. So, i wouldnt say he lived up to that. He also said im going to kill the carryinterest loopholes, he didnt do that. Very quickly. Ben raises a good point. This idea once people start seeing larger paychecks, does this bill immediately become more popular . Maybe, but if you look at what happened with the recovery act, you know, this was the big economic stimulus that happened as a result of the recession, there was actually a much bigger tax cut for middle income people from that than from this legislation. And the perception was amongst the vast majority of people that they did not get a tax cut. It was just not significant enough for them to really feel it. In fact, Something Like a quarter of people thought their taxes went up. So, the perceptions of this bill are going to be very hard to surmount, even if people see a small lift in their paychecks, they may not notice it. Thank you. David, good to have you, sir. Thank you, come back. We have a republican congresswoman from new york state standing by. This is what she said about the same tax bill back in november before she made up her mind on her vote. All eight of my counties are in the top 36 highest property taxes in the nation. Its problematic when you have high tax states like new york. About 20 minutes ago, she voted yes. Well ask her what changed her mind. Plus, why voters are giving trump credit for the economy but not not the republican party. This holiday, the real gift isnt whats inside the box. Its whats inside the person who opens it. Give ancestrydna, the only dna test that can trace your origins to over 150 ethnic regions. And open up a world of possibilities. Save 20 for the holidays at ancestrydna. Com. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. The gop tax plan passed by the house just moments ago, the vote 224201. The Senate Approved that measure yesterday. The bill will now be sent to the white house for President Trumps signature. Lets bring in new york republican congresswoman claudia tinny. She represents the 22nd district, including the city of binghamton. Thank you for your time. Congratulations, by the way. Thank you. Zoom you you are one of four in the new York Congress appear delegation that voted for this bill. You initially had some doubts about this bill. What changed your mind . First of all, i had doubts because the original budget language that came from the senate instructed us to completely eliminate the state and local tax deduction, otherwise known as smpblts. A. L. That would be great if we were in a medium or low tax or no state tax like florida or pennsylvania. For me the s. A. L. T. Deduction was something necessary to cover my middle income tax pairs who itemize, about 30 of the people in my district itemize right now. At least 30 of filers. Adding in the s. A. L. T. , bringing it to 10,000, the ability to use it for income, property and sales tax or any combination of that up to 10,000 actually covers about 99 of my property owners. And quite honestly, many of my constituents are retirees. Theyre in the new york state pension system. A lot of them are retired teachers, Corrections Officers and Civil Servants and they dont pay any income tax at all on their retirement income. In our case, s. A. L. T. Wasnt as big a factor on that side. You know whos getting hurt i