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Detailed text transcripts for TV channel - CNN - 20171130:22:42:00

Millions of dollars on life insurance. back with our political specialists epts to go back to capitol hill. the latest drama on the senate floor. republicans ran into a roadblock. what are you hearing, phil? reporter: the issue that s frustrating republicans all day has come to almost a head right now. i m being told that the deficit trigger, the issue that republicans were huddled in the senate well talking about why that amendment vote almost went in a very bad direction for republicans who to pass this bill, that trigger has run into significant problems. they are not sure how to structure it in a way that complies with the senate budget rules. i m told they re still trying to figure out solutions right now. if you want to know what that ....

Life Insurance , Capitol Hill , United States Senate , Deficit Trigger , Phil Matingly , Tax Reform Bill , Amendment Vote , Senate Budget Rules ,

Detailed text transcripts for TV channel - CNN - 20171129:09:38:00

Something in return for her acts to this point. that is the state and local tax deduction. the senate matching what the house did essentially allowing the property tax deduction, capped at $10,000. then wuf the deficit, job corker, jeff flake, they ve made very clear it shouldn t add to the deficit in the long run. how are they going to accomplish that given that growth, this kind of magical thing they can t prove with numbers on the outset doesn t necessarily prove itself out? well, they want a deficit trigger, essentially a mechanism that would snap the tax rates back to where they currently stand if the growth projections don t play out. still a couple of days to go. still a lot of complicated issues to work out. no question about it. compared to where they were tuesday morning, by wednesday morning they re in a much, much better place. all right. no question about that. as phil points out, all these concerns seem small in compared to their concerns over their survival as a part ....

Senate Budget Committee , Tax Deduction , Property Tax Deduction , Job Corker , Doesn T , Deficit Trigger , Jeff Flake , Shouldn T , Long Run , Tuesday Morning , Tax Rates , Growth Projections Dont Play Out , Re Election ,

Detailed text transcripts for TV channel - CNN - 20171129:10:37:00

It s due. he was helping in this process. let s talk about the deficit trigger. this is something that is getting a lot of attention as well. this idea that you would automatically raise taxes if these really optimistic growth targets aren t met and the deficit balloons. that sounds really hard to do. yeah, and it makes me think of things they ve done in the past that have sort of taken on lives of their own. things like the doc fix without getting into the details of that and the amt patch, they create the zombie legislation where they have to periodically change things over time and you can see that idea. that s sort of the end result if the if the economy doesn t grow the way they think it does they would have to sort of, you know, undo their own work in the future. republicans don t like to raise taxes. that could be a hard sell to say oh, yeah, here s this mechanism by which we will automatically raise your taxes if things don t go the way we want. ....

Deficit Trigger , Doc Fix , Deficit Balloons , Arent Met , Economy Doesn T , Zombie Legislation , The End , Amt Patch ,

Detailed text transcripts for TV channel - CNN - 20171201:03:03:00

The gop tax bill. talk to me about what s going on. reporter: there certainly was a lot of drama tonight, don. and i can tell you behind the scenes, right now republican leaders up here on capitol hill are still scrambling, essentially to salvage their tax bill. earlier this evening, there was a moment of high drama on the senate floor where you saw a bob corker, senator bob corker, really surrounded by republican leadership when the vote was being held. there was a lot of debate, with a lot of discussion. certainly a moment of intrigue. we now know what was going on at that moment was the senate parliamentarian was telling them essentially killing this idea about a deficit trigger. that s so important, because that was something that was seen as getting bob corker onword, onboard with the bill, the deficit trigger, of course, a trigger that would raise taxes automatically if the growth projections were not met. bob corker was okay with this bill, as long as there was a deficit trigg ....

Tax Bill , I Dont Know , Whats Going On , Capitol Hill , Behind The Scenes , Bob Corker , Deficit Trigger , Bob Corker Onword , Growth Projections ,

Detailed text transcripts for TV channel - CNN - 20171201:07:04:00

Trigger that would raise taxes automatically if the growth projections were not met. bob corker was okay with this bill, as long as there was a deficit trigger. that, essentially, got killed tonight. that set off a scramble, because republican leaders are facing the very real potential that bob corker and potentially others, like ron johnson, could bail on this bill at such a late hour. so as of now, the scramble is still on and they are still working out ways to move forward. yeah, it s going to be a long night. a long week and a long couple weeks for them. sunlen, what is the way forward here? do we know what is going to happen? reporter: it is very, very unclear. people are still working here late on capitol hill. there s still a frenzy of activity up here, where they re trying to look through different proposals. how they can satisfy deficit hawks like bob corker through other proposals. that s all to say they are still writing this bill, essentially, a bill that they potential ....

Bob Corker , Deficit Trigger , Growth Projections , The Way , Ron Johnson , Deficit Hawks , Capitol Hill ,