Speaker Johnson Says The Republican Reconciliation Bill Will Be 'Good For Everyone'

At a House Republican press briefing on Tuesday, House Speaker Mike Johnson (R-LA) spoke about the reconciliation bill.

Transcript

00:00are protected. Okay, that's the whole thing.

00:02Apologies for a wonky tax question.

00:05One of the big concerns for some of our investors and Bloomberg readers is that tax treatment

00:09have carried interest. The president wants to change that. What are your views on that?

00:13I've listened to the discussion, a very thoughtful discussion, back and forth amongst interested

00:19parties, and I'm not going to forecast where that comes. I mean, I know, look, I'll say

00:23this about our ways and means Republicans. They have put in, I mean, literally scores of hours

00:29down in the basement with the white boards, gaming out the very ideas and making sure

00:34that we make the right choices. You'll see a lot. That markup will be very telling on

00:39that, but they've come to a consensus. I'm not going to get out in front of them before

00:42that's discussed and released in committee, but we've heard from interest groups around

00:47the country, and we want to do right by them. Look, I think at the end of the day, I think

00:51what's going to be great about this legislation, the reason it's going to be so consequential,

00:54the reason it's going to be the biggest legislation, I think, in many decades that Congress has

00:58passed is because not only are we going to give everybody a tax break, right? They're

01:02not going to have the largest tax increase in U.S. history at the end of this year. It's

01:06going to help hardworking families. It's going to be turbo fuel, turbo boost to the economy,

01:11because I think this will send a message of stability to the markets, the bond market,

01:15the stock market, investors, job creators, entrepreneurs, that they have their tax rates

01:20permanent and solidified. They know they can plan accordingly, and that people have more

01:25money in their pocket to spend on their own families and their own needs and obligations.

01:29That's going to be good for everybody, and I think when it comes to this, I think all

01:32boats are going to rise again. That was the net result in the first Trump administration,

01:36the greatest economy in the history of the world, because we did thoughtful tax policy,

01:40and we did real regulatory reform. Right now, as Congressman Downing said, both those things

01:45are on steroids, and you're going to see this result in spades, and people are going to see

01:49it and feel it, and by the way, they're going to feel it before the midterm election in 2026,

01:54so that's another big thing. Last one.