Sen. Moore Capito confident in 'major victory' on taxes

This is a rush transcript from "Your World," November 29, 2017. This copy may not be in its final form and may be updated.

NEIL CAVUTO, "YOUR WORLD" HOST: An important vote on all of this, of course, those 52 senators, those 52 Republican senators.

As always, hopes spring eternal -- certainly, the president echoed it -- that a number of Democrats could vote for this. But the pressure is really on the Grand Old Party members there. There's 52 of them.

Remember, with the case of Alabama election and Roy Moore in a fight for his life here, there might be 51 if that election doesn't go Republicans' way. And there's no way of knowing, if Roy Moore wins, whether he would be a yea or nay vote on this.

That could be a moot point if you speed this whole process up before that December 12 special election in Alabama.

Let's get a read of things right now with Republican West Virginia Senator Shelley Moore Capito.

Senator, thank you for taking the time.

SEN. SHELLEY MOORE CAPITO, R-WEST VIRGINIA: Sure. Thanks for having me on.

CAVUTO: How does it look to you?

CAPITO: It looks very good.

We had lunch today. We talked about some of the differences that remain. We also talked about some of the movement that has occurred when several members had raised concerns. I think there's a real willingness on everybody's part to do something big and bold for the American public, and that's tax reform. So, I'm feeling very good about it.

CAVUTO: All right, good enough that a vote could happen by the end of the week?

CAPITO: Yes. Yes. I think we will vote probably here within the hour to move the bill onto the floor and have the 20-hour debate. We will have amendments being offered.

They will be good-faith amendments, and we will have the debate on that. I feel like at the end of the day, whether it's Friday, Saturday or Sunday, we are going to have a major victory here.

CAVUTO: Your read on some of your colleagues. I know it's very, very tough. But allowances have been made to certain members for certain things. I know that Senator Ron Johnson was here yesterday, Senator, assurances that they would do something to address small- and medium-size businesses who he felt were getting the shorter end of the stick on this deal.

Others, like your colleague Susan Collins of Maine, on this individual mandate thing, she is concerned about that, doesn't want it in there. Where does this wheeling and dealing stand in your eyes?

CAPITO: I know you have heard threading the needle. And that's what we're trying to do.

But, at the same time, these are very strong opinions that are held and very heartfelt. And so I think, in terms of the pass-through business issue, the Finance Committee has been working with Ron Johnson and I believe has found a pathway forward.

Also on the issue of removing the individual mandate, which I actually think is a really good idea, I think we have some assurances that we're going to be working towards keeping the premiums low, so that isn't an unwanted after-effect of that.

So these things are all things that are very much within the realm of reality, and I think that's what you are going to see.

CAVUTO: So, nixing the individual mandate is still very likely in the final measure?

CAPITO: No, no, no, I think -- oh, yes. Excuse me.

Yes, nixing the individual mandate I think will remain in, and I'm hopeful that the House will accept it, yes.

CAVUTO: All right, but it seems like there's been provisions there to protect those who premiums would increase or force them out of health care.

CAPITO: Well, you know, we have other provisions that are moving forward certainly in the Alexander-Murray bill and others to help stabilize the exchanges. I want that. And many of us do want that.

And I think we have assurances from the president and from others that we are going to have a chance to make that a part of a package, not the tax package, but a package here later in December.

CAVUTO: Have you gotten any indications, Senator, how your Democratic counterpart feels in your fine state, Joe Manchin?

CAPITO: Well, you know what? The way I look at this in West Virginia, it's a win for working families; 83 percent of our people who file don't even use the itemized deductions. So, this is doubling that standard deduction, doubling the tax credit

To me, this is a no-brainer for West Virginia. I'm hoping he joins me.

CAVUTO: Do you feel also that in order to expedite things -- I know this has been raised as a possibility -- whatever the Senate votes on, assuming it's passed -- that might be a leap to my -- here, but that the House then would vote up or down on your plan, or would you do this reconciling back and forth between the two plans?

CAPITO: You know, that was raised at lunch today.

CAVUTO: Yes.

CAPITO: And I think there's a strong feeling that we are going to go to conference. We have some major differences, SALT being one, the individual mandate being the other.

CAVUTO: OK.

CAPITO: These needs to be worked out in a conference. That's the way you get the compromise, and I think that's what you will see happen. We will not skip a conference, I don't believe.

CAVUTO: All right, thank you very much, Senator. We will watch closely.
Always appreciate it.

CAPITO: All right, sure. Thanks.

CAVUTO: All right.

END

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