Rep. Kevin Brady (R., Texas) and the hosts of "Morning Joe" got into a heated discussion Tuesday about the Republican tax reform bill and the carried interest loophole, with Brady accusing the hosts of obsessing over the measure.
Republicans appear set to pass the Tax Cuts and Jobs Act and get it to President Donald Trump's desk this week for one of their most significant legislative accomplishments. It has no Democratic support however, with opponents casting it as debt-exploding legislation that benefits the rich.
Brady, the chairman of the House Ways and Means Committee, was pressed by host Willie Geist about the continuation of the carried interest loophole, which Trump criticized on the campaign trail as allowing hedge fund managers to get away "with murder."
Brady extended the holding period on the carried interest loophole to make it less profitable to exercise, which he's previously said effectively closed it. However, Geist said the truth was hedge fund managers and private equity hold assets for longer than that.
"I think this is the perfect issue, the disconnect between Washington, New York and the American people," Brady said, touting the tax cuts he said would go to blue-collar families through the bill. "Carried interest, we can talk about that for the next hour if you like, but for most Americans, they could care less about that. They care about their paychecks and getting the economy going."
Geist retorted it was possible to discuss both things simultaneously, continuing to press him on carried interest remaining in the bill. When Geist asked him a third time about the loophole benefiting private equity firms, Brady grew impatient.
"Oh gosh. This is it? That's the best question you got on transformational tax reform is carried interest? Seriously?" Brady asked.
Geist and hosts Joe Scarborough and Mika Brzezinski cut over him, asking if Brady could answer the question about Trump's campaign pledge.
"You know what a primary campaign pledge was? Lower the tax rates," Brady said.
He called Geist "obsessed" with the issue.
"Keep talking about this," Brady said. "This is why the American public turns off these shows, unfortunately, because they're not dealing with the real issues that Americans care about."
Scarborough shot back people weren't turning off their show, saying "Morning Joe" enjoyed its highest ratings ever in 2017. He added Trump wasn't helping working-class people by failing to go after the hedge fund managers like he promised.
As Brady tried to cut in, Scarborough grew heated.
"Well, let me finish. Let me finish. Let me finish," Scarborough said. "Hey, hey, Kevin."
Brady responded his constituents were looking for a paycheck raise and stipulated he wasn't taking a shot at "Morning Joe" specifically with his remark about Americans turning off their shows.
"I love coming on this show ... I just think we're missing a really great discussion, that's all," he said.