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larry: hello, folks. welcome to kudlow, i'm l arry kudlow. so a big day in washington, senate voted to declare article 1 of the mayorkas impeachment articles unconstitutional, 51-48, now republican senators are lining up to adjourn the senate. we'll update as we get a new vote on second and last article or whatever comes. house speaker mike johnson come up with a 95 billion dollar 5-part package for foreign aid funding and border control, and he will be here in a few minutes to talk about the whole story. by the way fed head j. powell throws in towel on rate cuts there will be no rate cuts, probably in my lifetime, we have linda mcmahon and mike faulkender. and all that, not enough we have joe concha, and mark

simone and liz peek and kevin mccarthy, strap in this is the most fun we've had. let me start with new ground. a couple points about the middle east oil and so forth, european foreign ministers visiting tel aviv, to persuade prime minister netanyahu not to retaliate against the iranian bombings last saturday. biden administration continues to pressure israel to doi nothing, then house national security adviser jake sullivan with a statement yesterday announcing new sanctions will be placed g against iran in wake of the iz raise israeli attack, a nonevent. a nothing burger. he said biden is quote, coordinating with allies and partners including g7 and

with bipartisan leaders in congress on something called a comprehensive response. then sullivan added in coming days, u.s. will impose new sanctions targeting iran, blah, blah, blah. and so sullivan reminded us in last 3 years u u.s.a. sanctions over 600 individuals and connects with terrorism, so, what what sanctions were there except tiny pieces of paper, the bidens eased sanctions on iran, the their oil production has gone from less than a million barrels a day in donald trump's last year to now 3.2 million a day, that according to a reuters survey. bidens have done nothing to stop it, estimates do very, iran stepped up oil trading

be worth 100 billion to them, that is 100 billion funneled to their terrorist client states hamas, hezbollah, houthis and all attacking israel. bidens have not done a thing about it no ships have been stopped, no impound ams who iran's biggest customer? china according to ship tracking data from vortexa china bought average 1.05 million barrels a day of iranian oil in first 10 months of last year. 2023. this is 60% above presanction peaks recorded by chinese custom recorded in 2017, china's october import from iran estimated to reach 1.45 million barrels a day, highest monthly level ever according to vortexa. that is something, what about those sanctions.

our top adversary, china, wait, a top enemy, china. china is buying oil from russia, violating those sanctions and iran is selling drone missiles to russia, despite sanctions, raising more money and fueling equality war and israeli war abide ups have -- bidens have done nothing, why hasn't joe biden publicly chastised china for financing two wars. where is the public warning? i'm reading through a reutters story today, it was dated yesterday, april 16, iran's unprecedent side missile and drone strike on israel, is, unlikely to prompt dramatic sanction action on iran oil expert from the biden administration due to worries about boosting oil

prices and angering top buyer china. oh, my gosh. angering top buyer china. i'm sure that reuters shore is right, all along bidens have been worried more about the gasoline prices than israel 's security or america's security, if they preopen fossil fuel spigots and drill, baby, drill, oil would be closer to $40 a barrel than today's 90 that could put iran back in bankruptcy. but no, the green new deal is more important than protecting israel. did i mention mr. trump? well one thing high taught me, was how to h to use tariffs for trade and nontrade purposes, he used threat of massive tariffs on mexico to get them to agree to a remain in border policy, with 25 thousand mexican troops.

i wonder, to cripple iran, and stop all this oil production and sales among -- rogue nations might mr. trump, that -- make that a president mr. trump. tell china he will double tariffs on every single one of your imports unless you stop buying iranian oil. might he put it out there in full public view, embarrass the china, then hammer home the tariffs? i think he might, you know what, i am going to go ask him that is my riff tonight. all right, joining me now mike faulkender, chief economist at america first policy institute, from fort worth, texas. we'll have linda mcmahon, joining us shortly. faulkender welcome down from

texas. we have some sound from fed chair j. powell. >> the recent data have not given us greater confidence instead indicate that it likely to take longer than expected to achieve that confident. that side we think policy is well positioned to handle risks we face, if my are inflation persists we could maintain the current level as needed. >> they are throwing in towel no rate cuts is my reading. what do you think mike faulkender? >> it seems j. powell is late to the party, he was very late in recognizing that inflation was coming in 2021 with biden spending, and took him forever to recognize that anonymous was not transitory and now maybe interests alone are not going to calm markets, and

calm consumers with the price increases. we have been talking for a long time, you cannot simultaneously have receregulatory policy and fiscal policy, throwing gasoline on a fire then think this j. powell's firehouse can dampen the inflation they are causing, unless and until biden administration switches gears and cuts back on spending including student loan forgiveness, deregulate, particularly in energy, and drill, baby, drill. there is every reasons to believe that inflationary pressure will continue, the market thinking that 6 rates early yee this year never made sense, and thinking we would get rate cuts in first or second quarter this year, and powell talking about 3 rate cuts, it is about time that fed cease there is nothing changing the pressure. larry: cpi in first quarter, up 4.6%, at annual rate, and

j. powell favorite core measure, core services cpi, xrents. i have been doing this 50 years, that is up 8.2, annual rate, it is almost 4 times fed target, hes that thrown in the towel, i would say that the hotlanta fed gdp tracker said 2.9 in percent quarter, the economy is resellient, there is no reason for fed to ease interest rates, otherwise they b would be accused of juicing the economy to reelect joe biden, they wouldn't want that accusation hurled at them, would they mike faulkender? >> well let me add another number, the jobs reports have not demonstrated need for the fed to try to curtail the rate levels they

are at. why was j. powell lawsuit -- light too raise rates, high my view he was more concerned about getting reappointed then being fed chairman. look at extent to which powell continues to monetize of the oa the excessive spending in 2021 they needed to buy mortgage backed securities or engaged in quantitative easing when we recovered from the pandemic, inflation was surging yet powell was more concerned making sure his nomination and couldn't confirmation went through, i think not surprised if he were to engage -- i h hope he will not engage in a political act but given powelly tenure it would not surprise me.

>> are so mean, you know, that i thought you were a nice guy. so mean to j. powell. >> larry, i try to be honest with you. larry: heck, i -- there is a rumor we have great linda mcmahon from fort worth, texas, chair person america first policy. former cabinet member, small business, linda wembanyama, women -- welcome back, i are just in team, a quote about president trump tax cuts. here is joe biden talking about your tax cuts. >> donald trump embodies that failure, he wants to double down on trickle down. his failure starts with his 2 trillion dollar tax cut that overwhelmingly benefited the wealthiest and biggest corporations and explode federal doadz. debt.

larry: a little bidenomics for you to make your day, i would have thought making evidence that virtually every person and every sector of the u.s. economy benefited from the trump tax cuts, including middle income people, loew, low income people, and a record low poverty rate, and record low unemployment rates for blacks, whites, hispanics, women, young people that is the numbers i read. national bureau of economic research confirming this. but joe biden does not agree linda mcmahon, do you have a response? >> well i do, because the facts are clear, compare trump economy to his, we don't have to guess, not what trump promises he will do, it is what he already dtax cuts and jobs acts, what happened we know our economy grew. more small coulds started, there was great access to capital.

entrepreneurs were able to utilize parts of the tax cuts like you know writing off capital investment and year it was made. more businesses started. look at the economy it was flourishing until covid hit, we were just flourishing coming out of covid because those policies were in spill in place, economy -- still in place, economy started as you called it, v-shape economy on the way back, that is what biden came into that v-shape economy, the grow that we're seeing jobs that he is claiming to have created, are a lot of those jobs coming back on the economy of after covid. tax cuts do work. we had greater revenue larry. larry: i didn't make it up, i'm looking at actual statistics of income from the irs, mike fa

mike faulkender, distinguished economist. , the last one linda mcmahon, joe biden wants to raise taxes between 4 to 5 trillion dollars, donald trump wants to extend trump tax cuts worth a couple trillion, it will pay for itself, which will help the economy more. a 5 trillion tax hike or tax cut, i ask you linda mcmahon? >> well, this is easy, a lay up question, the tax cuts will help the economy. we have shown it with reagan, we showed with clinton even. and trump came in clearly tax cuts do increase revenues, and the economy flourishes. larry: you would think, but then again mr. biden does not think, linda mcmahon thank you, michael faulkender thank you. >> thank you. >> coming up house speaker mike johnson, very graciously agreed to come on, talk about his 95 billion dollar 5 part

package, with foreign aid, border control, and he will give us the scoop, we're grateful. i am taking a quick break we'll be right back with speaker johnson. everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lot of patients.

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larry: great honor, joining us now the speaker of the house mr. mike johnson, gracious enough to come on the show, he has himself a new 5-part package, helping israel and ukraine, selling tiktok, closing the border, i know you are a busy chap, we appreciate you coming on. i will let you start this for the next next -- tell us what you want to emphasize. >> yes. thank you. >> professor kudlow. it is a busy day. we have a lot happening this is important for the house, we have taken senate supplement at bill and improved process and policy. we have done for example in ukraine piece, we have added loan instrument concept, the repo acts. the seizure of corrupt russian oligarchs assets to be uses to fund ukraine effort, a lot of new

accountability and oversight that congress has a responsibility to do strategy shift as well we'll require within 45 days that white house to deliver to congress a meaningful plan, what is the end game. what is the objective, how do we bring it to an end. and on ukraine piece, 80% of what we'll spend will go to america's industrial defense space that a refl replenish am of our stocks and weapons we're adding sanctions against russia, iran and our adversaries including china, house will do its will here we have a rigorous amendment process, what a concept, regular order, wherever member gets to vote their own con conscience, we begin with the border. president biden engineered the opening and the catastrophe, we can put that

flag in ground again. larry: seems to all be there, congrats in the development, you know mr. speaker one quick thought. i am sure you didn't hear my riff. but, i am so furious that bidens refuse to lift a finger to sanction either iran or china. iran is selling china's record volume of oil exports, according to surveys 1.5 million barrels a day. overall, iran is producing 3.5 million barrels a day, donald trump brunted them in 2019 -- bankrupted them in 2019 and 2020 and bidens don't live the finger, it occurs to me, someone should say to china, you either stop buying this oil and finance this war against israel and the united states, or we will double or

triple the tariffs on your exports to the u.s. that is something that trump would do if we were president, put the wood to them, the way that bidens refuse to. >> absolutely, i spent last friday with president trump at mar-a-lago we talked a loo-- lot about, that he speaks of that all of the time, you have to be tough, this president is projecting weakness on the world stage that is why all of the our nation's enemies are acting so provocatively, for israel for example, president biden and chuck schumer have been criticizing israel and appeasing iran, the strategy should be opposite, we should be helping israel. this encourages xi and china when they see we're not standing strong, and not holding the line, they will move we're concerned about when china may do in taiwan, and about iran's open

agressnow against israel. our ally, and russia of course, is still on the march in ukraine, we have to stand strong, a strong america is good for the world. we bring stability and peace, perception this america is strong is important and has been since world war ii, we cannot rhett dow let down on that responsibility. larry. larry: amen to, that i keep reading some of your critics' to replace you because you are not dealing with the border, this package as a border component in it remain in mexico. you have got steve miller's election integrity proposal with voter i.d. component, you talk with trump the other day, last weekend about the e election integrity stuff, the border is here, remain in mexico, i don't understand the whole, they want to replace you as speaker just want your comment on that, it seems

that you have a full-fledged package here. >> well, we do. some of my colleagues' speaker of house to have a magic wand. in we could close the border ourselves we would have done it a long time ago. hr 2 has been shippin -- sitting on schumer's desk. everything that trump did biden reflectively did the office sive, that is the problem we passed resolutions, the laws, they sit on chuck schumer's desk in senate, the democrats run the senate and white house, and they want an open border, this vote are i.d., that idea you who have prove you are a u.s. citizen to vote in a u.s. federal election is important, we'll move that in days ahead. we were talking about that in mar-a-lago. american people demand and deserve this we know that border is a ca

catastrophe, we're bringing the app this week it is aptly named. in hearts of minds of americans, does not matter where you live, whether i'm west or upstate new york deep south or midwest, everyone knows this is what we must do, if down have a secure border, you don't have sovereignty are security or a nation, that is what joe biden has put at risk,. >> it is in your package, part of your legislative proposal. >> we're moving this measures this week, as expected that part will sit on chuck schumer's desk, they will show american people again where their resolve it we know. larry: all right speaker, another point, you mentioned mayorkas, both articles of mayorkas impeachment were voted down today. chuck schumer rides again. speaking of re-- i guess

that failed, i don't know what there is to know, it looks like mayorkas is getting off scot-free, what is the next step? you don't want this issue to die regardless of mayorkas. biden you hear rumors mr. speaker he will use some executive authority 212 it wg, i don't see anything on sanctions again iran, and i don't see anything about sanctions to close our border. >> no, that is why we put sanction in legislation to go after iran and china is russia. on border, i have been telling president since the day i got the gavel, the next day. we met at white house and talked about border, we have been talking about it with his staff and with him, redemand they use that

executive order. i delivered to president's menu of 8 executive actions he could take. under existing federal law, he access like he has no ability or he dues does not believe it is true, that is a nonsense, he does not top close the border, that is clear, why? i think we know. they want to under this them into voters and affect outcome of census, if they could diff distribute illegals we believe it 16 million now they would meet that objective. we must combat that is what house republicans are committed to do on behalf. the march people. larry: mr. speaker, st another point, you are frgracious with her time, inflation is a big issue. j. powell thrown in the cut towel, you talked about border problem and law and

order and crime. another one, joe biden on tax day, monday, decided that raising taxes is a much better economic growth and tuna,proach than cutting taxes. says that trump tax cuts benefited a few wealthy people, i thought it benefited almost every nook and cranny of the economy, can house do anything you know kudlow catechism on supply side tax cuts at least you know, tickle us a little bit, i always thought that lower taxes of a better idea than higher mr. speaker. >> yeah, are applying way too much common sense for washington. in house republicans, we're using our one vote margin, republicans are united on this idea, you lower t tax burden on american people to spur on the

economy. we have done that, i came in when president trump did, you were in administration, i got to congress the same year, we did a great job, you helped engineer that we had greatest economy in history of the world, right before covid, everyone was doing better, we went back to basic principles cut taxes and cuts regulations dramatically that is what allowed the economy to boom again, this is not rocket science, they are policy choices. larry: speaker johnson,ure gracious for your time, congrats on the package, i hope it works out for you, we'll talk soon, thank you, sir. >> thank you, my friend. >> we'll take a quick break work have mark simone, we have joe concha. and if that is not enough, we have liz peek in addition to all of that. up next on kudlow. that was a very clear headed speaker mike johnson. i'm kudlow, we'll be right

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larry: let's talk politics, talk about donald trump carrying the state of new york in general election, how fun is that? joining me now mark simone, and joe concha. and liz peek. fox news contributor. mr. trump, he lost by f 5. 6%age points, 300 thousand votes, that was lee zeldin lost in last election that is not bad. >> this city, i love this city. it has gotten so bad in last 3, 4 years we'll straighten new york out. running for president we're putting a big hit on new york, we think we could win new york. larry: so, liz peek, while

the new york political establishment from white house on down, is trying to railroad and weaponize him and put him in jail for 700 years, he is a bodega talking with folks, and doing good. >> it is ambitious, optimistic, but he will do well in new york compared to the past. i am guessing, new yorkers are fr so frustrated, and all issues that donald trump is campaigning on, the border, the city is overrun. i talk with 3 hispanics today who will vote for donald trump, their neighborhoods are trashed by the people who are here illegally, they p bring drug trading, i cannot tell you how offensed hispanics who are here legally are by what is going on at the

southern border, there is a real problem for joe biden, i thought don donald trump going to harlem of the brilliant. larry: like joe biden going to rockettes in radio city huhughes -- music hall and not raising that much money and trump to go to long island to be in wake of the poor tragic cop who was killed by an illegal criminal, i think he wants to do a rally in madison square garden and yankee stadium. >> wow, if you told me january 7, 2021 he had plans for doing that, i would say you are crazy, now that we've seen that reception in har harlem, like we saw in chick-fil-a in atlanta, he was warmly embraced in both places, we talk about it before, this

is bringing back memories of ronald reagan to h harlem before an election, people thought that was crazy, it was a good strategy. overall will donald trump win new york probably not. but, other states that people are not talking about like virginia for example is very much in play, joe biden is underwater in almost of state including new york. while maybe he could pull it out that is how new york votes he may have to spend more money and more time in places he did not expect to. >> this is a big deal. larry: tie biden down. mark simon, come in a minute, have a quote, on trial. reverse affect. >> hold it. >> every legal scholar every legal pundit says there should be no trial, this is -- there was nothing done wrong, this is assault politics this -- this is all

politics, this is coming out of white house, we're doing better now, it is are having a reverse. >> all i can fairness. larry: live that we want trump in background. >> they had jury fill out a detailed questionnaire. >> bias, the judge should have filled it out, democrats should watch this bodega video they will be terrified that crowd is chanting and cheering for him, in harlem. they love trump there. he will do this, all the of time, go to a different crime site a different disaster migrant center do these appearances. larry: they brought it a among themselves, treating him so badly, not letting him go to his son a graduation in florida. i was looking at polls people don't think he was guilty, most people are scratching their heads, including legal scholars.

not just jonathan turley but a lot. you have left of center people that are scratching their head, what is he being tried for. >> the nondisclosure agreement is legal. larry: personal payment. what is wrong with a personal payment. something that lawyers, my -- i am not sure that trump knew here, problem said go ahead do it take care of this for me. this is what happens when you are a big business guy. >> remember debate bloomberg admitted he signed dozens of hush payment agreements. >> that is telling. >> trump said, this is what you call it you call it a legal expense. you write in check. lawyer he is doing's document. larry: liz peek, not advocating it just saying it is very hard to figure it out, fantastically in light of the -- particularly in light of fact there is a federal election crime involved they can't name it in the indictment, and the federal election commission

looked that the and rejected it. >> yeah and it is a little bit like remember during the financial crisis, you had financial instrumenting that were tiered one on the other, and then it was there was nothing there, t they -- collapsed. the multilayered financial instrument this is 39 misdemeanor that could only be tr translated to felonies if there is an attached felon, no one has been able to discover a attached felony, you are not playing correctly if you don't give it to the other team. not legally properly behaving this -- >> even democrats. >> the "new york times" called it creative, this is more. larry: joe concha, i will do this as a shot. liz peek said marjorie taylor greene is an idiot,

she did not do the headline she wrote the piece. you saw speaker johnson, cover the waterfront, what did you think? what was your honest appraisal. >> authentic and no nonsense, she not there to put on a show or go viral he says here are the problem, here is what i can do within my limits this is when we try to do moving forward, bottom line republicans if they had a larger majority they could ram through what they want, they don't have that, he has to compromise whether kevin mccart or speaker johnson or whatever else is after them, if senate majority leader chuck schumer kicks him out nothing will change. the numbers are not there. larry: i like marjorie taylor greene. but, putting that aside here, is doing what he can do. he made that very clear. he does not have a bulletproof majority in house. he has the foreign funding

is in this. but he has the border bill in this also. he has the close w border stuff from hr2 and election reform and sanctions on china. and iran which bidens refuse to do, they are worried about gasoline prices. i don't have sympathy with people who want to replace him, i don't see it, what are you going to change, get, who, why, where? >> you listen to new york sports radio. larry: i do. >> before aaron rodgers we have to replace jets quarter back who is your option, how does team get better who is behind mike johnson, morning mmarjorie taylor greene should offer up to be speaker let her get in there, see how that goes because the numbers are knnot change. larry: liz, you would be are in marjorie taylor greene for speaker. >> no. >> he does not have a candidate. she is backing that was case

when kevin mccarthy of thrown out too, the people. matt gaetz did not have a candidate to win consensus. this is a democracy, this is how it works if she does not like the bil bills she votes again them, she has one district in georgia that is plus 22 that is her big selling point. not a big group of people, deal with it, shut up and by the way, when donald trump came out and said he supported michael johnson that should be enough forever these people who are backbenchers, they should say we'll make it work that is the game. >> everyone is a rino . >> over or under on trump. >> reagan did it twice, trump -- you can imagine a private citizen running for president and winning, he has done it before. larry: you are taking over. >> safe the tape. >> joe concha,. i'm kudlow, up next, kevin

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republican boost in the house and senate flip in november, she he is here, i love optimist, i love a bull and a love kevin mccarthy, give us a couple thoughts, we begin with mr. ttrump. >> well, i'm optimistic that is what data show, going to last election president biden won by 48918 votes. so if you take polling from then compare to today, president trump is really at the same place he was then. the difference is that president biden was plus 10 favbility then, he is minus 20 now, i think if election were today it would not be close, president trump would win big, you see it, when talk about new york. you are not mentioning michigan or pennsylvania, arizona or joe, p georgia.

president trump has been leading in those swing states for a number of months, now we look at black american percentage up to 22%, if president trump gets above 13%. democrats will never win the white house. you look at his growth with hispanic voters, we va watched it in congress winning districts along the border, we were first party to have a mexican-born individual elected to congress, this grow, senate has a disf different map, they need to win one seat, but manchin and kyrsten sinema are not running for reelection, and senator danes has done a good job running senatorial committee, may attention in primary, you look at house, i have been leader for 5 years we won every cycle, when president biden was on

the ticket, last time, it was the first time since 1994 that not one republican inincumbent lost, i picked up 5 seats in california 5 in new york, oregon and arizona, but today, the numbers are better, it is easier to win/8 -- win seats in the house this cycle than last year, democrats try to do redistrict new york they did not do well, north carolina had redistricting 3 democrat incumbents did not run for reelection, you pick up 3 sseats we have competitiveness it looks chaotic in congress right now, only way that republicans in house down maintain majority or grow is themselves because of k chaos, moneys that dropped that hurts, democrats have a money advantage now. larry: i think that it

important, i think mike johnson is doing this, keep the focus on biden and schumer. democratic policies, i think he has that, if he stays with shark -- with that, i am glad to hear your optimism, i was going to say one footnote, i know larry hogan in maryland, he is a liberal republican but he is a republican. and he will lineup on the republican side. and that will be -- that could -- you could wind up with a 3-4 seat senate majority, last 15 seconds. >> i'm a big supporter of lalarry hogan, i don't call him a liberal republican, i call him a common sense republican, she conservative on issues as well but he represents his state, he governs, he governs in a manner his state wants. that changes -- this a chess game, d democrat have to spend millions to try to defeat him, that say whole

new game. >> kevin mccarthy thank you so much. folks i'll be right back. with the last word. stick around. ava: i was just feeling sick. and it was the worst day. mom was crying. i was sad. colton: i was diagnosed with rhabdomyosarcoma. brett: once we got the first initial hit, it was just straight tears, sickness in your stomach, just don't want to get up out of bed.

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