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Steve Forbes On Tax Reform And Raising The Debt Ceiling

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Congress has agreed to raise the country’s debt ceiling for the next three months, after President Donald Trump backed a Democratic plan to tie the move to relief for Hurricane Harvey. But the measure has been controversial among Republicans, including Forbes Magazine editor-in-chief and former Republican candidate for president, Steve Forbes.

Forbes joined us Thursday to talk about Wednesday’s debt ceiling agreement and the future of tax reform ahead of his appearance in Louisville next week. You can hear our conversation in the player above.

Forbes on raising the debt ceiling for three months:

"I wish they'd put the thing off until early next year, so you get some of these big things like tax cuts done. But now it's all going to come together and journalists are going to love it — I'm not sure the country is."

On the consequences of politicians not doing addressing the issue of taxes:

"I think there will be a big push to do a tax cut, because of what we were once taught called 'the instinct of self-preservation.' I think the Republicans are realizing that if they don't get something to stimulate the economy in a very positive way, a lot of them are going to be as they say, 'pursuing new opportunities' after the elections next year. And while some might become lobbyists, some I think might be facing the prospect of becoming Uber drivers. So I think they'll try to get a tax cut through and get this economy moving forward the way it should."

Forbes will be in Louisville Tuesday afternoon speaking at Strickler Hall, Middleton Auditorium at the University of Louisville College of Business. The free eventstarts at 4:30 p.m.

Bill Burton is the Morning Edition host for LPM. Email Bill at bburton@lpm.org.

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