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Family and help his businesses. let's start here. tax cuts for pass-through enterprises, he owns hundreds of those businesses. that's when a company's passed to owner. for somebody like trump that means a top rate of 39.7%. the house lowers to 25%. that's key here. the senate bill redoozes taxable income essentially lowering the tax rate. either way that's a nice tax cut for the president. there are also goodies for the trump family business, real estate. both lower the tax on income, a pool that the trump's and kushners use, the senate version allows bigger while the house plan won't cap. fin...

For the trump family business in real estate. both plans lower the tax on income from real estate investment trust, a tool the trump and kushners use, the senate version allows bigger deductions on commercial property. finally, both plans keep a tax break for golf court owners. that benefits the trump organization which owns multiple courses. now let's talk about the alternative minimum tax. house bill repeals it. the senate bill keeps it but fewer people will have to pay it. how will that help the president? two pages of his 2005 tax returns leaked in march. you can see line 45. without that ...

It goes to the rules of the senate and that's part of why it's not in the house plan. the rates are little more complex in the senate. the house version is simpler with four tears, but nuances in the senate bill are more track than the house bill and things that are more more attractive in the house bill than the senate bill. that's why it's important i get the conference right and i'm looking forward to the final product. arthel: do feel there is difference in the house and senate bill that may be tough to reconcile? >> there's going to be a few challenges. one of the ones i'm excited about i...

Overnight in wee hours of the morning but they are still not done. the question is what now? the house is expected to vote monday night on a motion to go to conference which is separate but similar bills into one bill, they would vote on that compromise and send it on to the president's desk, hopefully by christmas, neil, so that means translation, we have 23 calendar days from right now, house and senate republicans will have to address the differences in their bills to pass one with the exact same wording, can all of this be done here is what is left to reconcile, corporate tax rates, both c...

Extended as happens, i might add, even for the top rate when president obama came into office. so they extended most of the bush tax cuts. even the top rate at the beginning, which interestingly they must have done because they knew if you were to increase the top marginal tax rate in a recession, it would be harmful for the economy. so back then there was bipartisan support for the idea that you should not lift the top marginal rate. so there should be bipartisan commit of growth effects of bringing it down right now. i'll go back down to the middle. >> the fwo bills are different in that the...