do you respect the law enforcement? do you believe in law and order? do you put american citizens before those who have no right to be here and want to hurt us and injure us in sanctuary cities. by the americans in those cities entitled to justice. -- justice? if you can say that you are proud to cling to god and guns. [applause] then you don't have a choice do you? god bless you. god bless america. god bless donald trump. thank you. [applause] ♪

>> ladies and gentlemen this is a conversation from the white house, the honorable kellyanne conway. posted by ian walters. >> how about it, cpac? we have two of the most important officials from the trump administration, kellyanne conway serves as a counselor to the president.

linda mcmahon as the administrator of the small business administration. [applause] among many of the accomplishments that conservatives can cheer from 2017, one of the most historic was the passage and signage of the tax cut and jobs bill. that is right. are already seeing the sort of impact that it has on people's lives and the economy. record stock market numbers. because of the successes. do you think we are on the verge of a new rebirth of american entrepreneurship? >> i can tell you now is the time. if you want to start a business, if you want to come to the united states and started business, or you are already here, if you want to grow your business or transition it. now is the time. optimism could not be higher. i have had the opportunity over the past few months to travel all around the country. states and io 32

have visited with small businesses, had roundtables, gone through many factories and all of that. .he enthusiasm is so high they were first hoping for tax cuts, now that it is a reality they are saying wow. i have already hired, i'm going to produce more goods and services and now i'm going to open another location. >> the opportunities for growth are out there is what you are saying. for those of you don't know, administrator mcmahon for a long time was in charge of what started as a very modest small business and grew into world wrestling entertainment. the most popular entertainment -- just a quick thought on what it was like to start a small business and how you grew up and the satisfaction you felt as you watch the growth. >> that is one of the things president trump said to me.

he asked me to take on this job. he said, i want someone who is actually for business and knows what it is like to have to struggle, to have successes and failures. were even and i bankrupt at one point and lost everything. we had to rebuild. when i told the president, i get it. i have walked in the shoes of so many of our entrepreneurs. i can really talk to them. i think it is incredibly important that you feel what , you share their passion, you understand the humility and desire to take a risk. when you can tap into that, the sky's the limit. [applause] >> kellyanne, you are someone i have known for a long time. you're always embody the entrepreneurial spirit as well. you have had your own company for several years. >> 22. >> 22 years as the ceo.

why was it so important, after eight years of president obama's economic policies, to get this passed in the first year of president trump's administration? >> thank you and thanks to cpac for having us. it is a privilege and a pleasure to be here. thank you all for your enthusiasm. and for welcoming the president a few hours ago. we are trying to follow that up. ownerme a small business and a fully recovered attorney for many reasons that people across this country did. i think my story is very common. or you're looking to convert a hobby or a skill set into a profitable business. at the same time, try to build a parallel track to the traditional workforce, that you don't think will work for you long-term. in my own case, i wanted to be a

wife and a mother. i enjoy what i was doing outside of the law in public opinion research. owner, --ll business as a small business owner, most of the struggles were complying with taxation and regulation and forms. most small business owners in this country and aspiring entrepreneurs believe they can do it. they don't lack for desire or will or moxie. they don't want for self-awareness and self respect. access to capital for many of them. is, ifey wonder about you look around the corner what will the tax or regulatory burden look like? that is why the anticipation of the tax cut, the anticipation of significant regulatory reform, those alone are releasing energy again in this country and gave such confidence and a boost to existing or aspiring entrepreneurs. that is why you see this growth

or explosion now that tax cuts are real. to a small business owner, just like anybody who owns a home or is not married and lives alone or has children, anybody in this country has fought in the past -- thought in the path of how they would spend extra money. that is the importance of this tax cut. as a very basic principle, it is freedom. it is that you get to hang on to more of your hard-earned money. the fact that this president and this congress passed a tax cut that means many more americans will pay 0% in taxes, and we have a tax bracket of 0% for so many americans, that the first 24,000 -- $24,000 for a married couple is exempt. you things like the deductions for small businesses, you have doubling the child care tax credit, you have the retention of some of the more popular and commonly relied upon deductions

like the mortgage interest and charitable contributions. there are so many aspects of it that seek an immediate growth and relief like bonuses and waited. one thing we have not talked about is what the capital investment from these companies is doing to your community. you're looking about $482 billion in promised capital investment. about 182 billion in our paperwork of new investment projects that have been committed. that is going to have a ripple effect across the economy. i think it is a shame that people were lied to. that the tax cut would not happen and could not accurate that it would benefit the well-connected. number two, you couldn't get a single democrat to vote for. i think that is regrettable. we would like these measures to be bipartisan. i don't know how many of those senators or congressmen are going to go home and it's fine weather constituents are

benefiting from this tax cut and they missed the chance to be a part of that. >> let me take a deeper dive. [applause] just a couple of comments on how the tax-cut impacts individual americans. mereoke about the anticipation of these things being enacted and capital investment -- we are seen corporations giving employees bonuses. they have been called crumbs recently. what is the big picture on how these things work as we look at wage growth,th, job creation, what is your sense of how all these things are connected and what they will kickstart in 2018? >> these are not crumbs, this is real bread. i think people are seeing that already. [applause] they are seeing it directly

through wage increases and through bonuses. it inly, they are seeing their paychecks. we do get people calling is constantly saying there is more money in my paycheck. i was always skeptical. simplerple see how much and how much lester coney and draconians -- less and burdensome their tax bill will be. you have the doubling of the child tax credit, you're the first elderly dependent tax credit. i think the administrator is the best person to talk about the effects on small businesses. i can tell you as a small business owner, the attractiveness in the tax code and the tax-cut for small business owners, you have the expensing, the ability to have a lower tax bracket. it is also the repatriation of

the well. that is something we don't understand in everyday terms it. the idea that trillions of dollars that are parked overseas will come back to the country, billions of dollars repatriation . i think you are the best equipped to talk about that. >> what grows up around a big company that comes in to build a new headquarters, it is all the support services of small businesses. businesses will grow unbelievably. as a result of these big businesses coming in. it is really good to see that money that is going to be repatriated. under the tax cuts and job acts, what i'm seeing with small businesses, they are talking about getting a 20% deduction from the revenue. then they participate in the reduced tax brackets. mentioned, they can

expect that -- expense that for five years. , and at a bakery in boston providence actually. a huge bakery. they make all of the bread for trader joe's and all of that. someone told me this is so great . the owner told me, that of an over there cost $4.5 million. i want to get a new one and we will take even more bread and support more people. it was a tangible example that was standing right there. i'm going to be able to expense it. he said this is going to be a shot in the arm for the gross of my desk growth of -- growth of my business. differencesthe between the conservative approach a tech policy and the liberal approach to tax policy at the small business level?

it's how these things are somewhat connected, whether it is wage growth, the raising of taxes, job creation. liberals like to say that minimum wage should be standardized. you see in minneapolis $15 an hour. high taxes will constrict a business's ability to reinvest in itself. how a business goes from five employees to 15 employees by merely lowering its tax rate and putting its reinvestment -- what is that people factor, how you can hire more people? how does that work? >> if you have more money in your pocket and you want to grow, you have more money to hire the next person. instead of paying it to the government you will hire a person to bring it in -- to bring in to do a job or a different job, or to open a new location. i don't know of a single business person that i have met

or talked to that does not talk about growth. they are not content to sit still. i tell everybody that i counsel but as a small business owner, there is no such thing as status quo. you will either grow or fall behind. how do they grow? they grow by hiring people to produce more products or services, the opening to location, all of that. that's the open a new location. -- they open a new location. when taxes are too high based on growth. this is a real boon. this is the most optimism in the decades, to -- for reagan and before reagan that can be measured. the stats are there. we are seeing it. >> kellyanne, you are one of the top communicators in america, among other skills you have.

why -- liberals will say that corporations are bad, greedy, that they should be taxed at a high rate. president obama's famous you didn't build that statement. why, for so long, have conservatives, republicans, not been winning on this issue in the culture? growthyears we saw 4% and -- now we have a chance of actually hitting 4% growth and we are not talking about it. what is the difference that president trump has made from a communications >> the differences that president trump is president trump. -- difference is that president andp is president trump, elected a successful businessman that understands markets, and

the free market, and understands of projects that come in under budget and on time. the other thing about builders and people in businesses as opposed to folks strictly in politics is you have to have a product area -- product. if you are committed to building and building, you cannot just have a commission or a task bill, or a markup of a .ou need to produce tangible it has made a big friends in is judgmentomeone is unclouded and unconnected from so many of the special , ideas, and demands. the bigger picture here is that nothing in the trump economy operates in isolation. so the tax cuts and jobs act was the crown jewel, but it was preceded by the regulatory framework being reduced. wasgoal of this president

to regulations out for every new one in, and he has surpassed that measurably, beyond what you can imagine. every department agency was tasked with doing that in respect to regulations as well. and he has unleashed energy. we need more things made in america, made in america. energy is under our feet and off our sure, -- shores, and it took more.s to go into it took decades for us to energyibly develop sources that are in this country. also, when he talks about confidence, it is something that mcmahon has talked about also. you name it, it is there. the other thing this president has done is to talk about skillsce development and

training and dignifying every kind of work. this all is working in concert in one short year. renegotiating trade deals that are in balance and under their to american workers, american, -- american interests, and to america. illegald say that immigrants are here to do the jobs that americans do not want to do, and americans that say excuse me, i would like to do that job. give me a chance. [applause] he has taken on these issues together, and made a one-time economic policy that has, by any objective measure, made us more prosperous and more safe. have national security without economic security, and it all works together. thinking back to his september 20 16th speech at the u.s. economic -- new york economic club, we see many of those elements at work in continuing to be implemented. that was a full plan where tax

cuts were the crown jewel, but had many other aspects to it. >> i think that is when we were planning the schedule for cpac this year to show exactly how these different government agencies are connected. we heard from secretary of labor a cost of yesterday about the workforce training programs. this morning, secretary kerry -- secretary harry and secretary zinke. and they mention the regulatory burden that small businesses can face. that is what we call in the swamp red tape. what is it like outside of the swamp, as a small business owner, to have to navigate the that can sometimes not just constrict inability to expand, and hire more people and franchise, but is really just a pain to go through?

you hire someone to go through a stack of paperwork. how can businesses make sure it remains easy to deal with taxes in addition to keeping them low? >> for every moment that an entrepreneur, a business owner is spending in compliance, the paperwork is opportunity cost they are not devoting that time to growing and running their business. again, what i am told -- and i come with actual hard facts, evidence, because i have been out talking to small business owners all over the country. what they have told me is it is such a relief to have some of these burdens off. tell me, what regulations specifically have been good? they cannot point to one. it is suddenly they just do not have this massive amount of compliance paperwork. most of them could not afford to hire accountants or lawyers to take care of it for them, so

they try to get through it. sometimes they miss it, and are fine because they are not in compliance. that is an actual cost for their business. this is much simpler. they're able to spend more times on their business, doing the things that are going to grow their business and make them be more successful. the regulatory environment has been oppressive. none of them disagree. they will all say look, we know we need regulation, we cannot just run amok, but it is the regulations that are unnecessary , we have to do it on a yellow page and again on the blue page, don't forget to send the pink page and. that is what happens. entrepreneurs, the ceos, , bookkeepers, and receptionists all at once. we need to get into a time where we can grow our business, because small businesses are the glue in their community. they are supportive.

if businesses are strong, the communities are strong, the economy continues to grow. >> a streamlined process. the theme of this year's cpac is a time for action, which is when we talk about ronald reagan's speech from 1964, time for choosing. action, a time for because we have a rare moment in american history where you have of president, both branches congress. we recognize this is a window of opportunity for real policy change. administrator, i will go to you, and kellyanne, take us out. what is on the horizon for 2018, economically speaking? we know americans will have a little more money in their pockets that will make them feel good and confident. we know that national security teams will make them feel safe. how can we continue this growth for the next 12 months? >> president trump campaigned on a for growth economy, and he is delivering. i think that is what we will

continue to see throughout 2018. from the fda perspective, i can tell you that quarter over quarter in the loans, the percentage of growth in loans, we are ahead. we are up. that shows that optimism. that is where the rubber meets the road. you have more people accessing capital to start businesses because they have confidence in this economy. when these jobs are created and the businesses grow, you will have nothing but continue economic -- continued economic growth. in oneuld like to throw of two metrics. one is growth. we did better with gdp, and in have settled for 2% or less. it was said that that is the best we could do, we could settle for that. that is not true, and the president, in his first year, even when and better

we had necessary hurricane relief spending. and thank god we invested in that. the administrator had a very big hand in recovery efforts in our hurricane stricken areas as well. she did an amazing job. weis the growth numbers -- do not need to settle. ladies and gentlemen, you don't need to settle. and this is what the president is doing with gdp. a lot of nonpartisan economists have predicted we will get to 4% and better and stay there. number two, i would say it is the measurement where the president, people are being asked do you feel more prosperous and do you feel the tax cuts are helping you? inse numbers are creeping up polling, and the reason they were so low for so long is because people were being told this will not pass, and if it passes, it will not help you. they were being lied to. i do not fault americans were believing that something the government would do would not benefit them. i think that is a very

legitimate believe they have had. it ishey see now, whether them directly or people, friends and family that work at these companies that have given the bonuses and the wages and the capital investment, and i will at a third one. the third measure, we have not mentioned it here, we are focused on mall business, -- small business, 35% tax rate was the highest in the developed world, down to 21%. [applause] >> that is really the gift that will keep on giving to our competitive economy that makes us more competitive. you see what these employers are doing. they are investing that money right back into the workplace and the workforce. if they don't, then those workers world walk, -- will walk, because we are becoming a nation of jobs in search of labor. what i appreciated what the small business initiators are doing, mrs. mcmahon, the

to the president and vice president, focusing on workforce development and training as well so that nobody feels that the only path for success is through a four-year college. it is wonderful for many people, but if you can graduate community college or a trade school and can go be a plumber or a hairdresser right the next day, that would inspire people i grew up with. [applause] and that would describe so much of the backbone of our economy. when i was the governor of --, the most popular thing he ran on while running for governor was his expansion of locational -- vocational-technical education opportunities. the president is doing it at the federal level now. we are telling all americans that there will be more job creation and also job security. but for people that do not about what the truth

a corporate tax means to everyday americans, now you know. folks, do you think this administration has us on the right path economically? [applause] administrator of the small business administration, linda mcmahon, kellyanne conway. cpac favorite counselor to the think withand i their leadership we are looking toward a good 2018. don't you guys? [applause] >thanks so much. [applause] c-span's back live at the conservative political action conference, which is being held in national harbor, maryland. >> [inaudible] i moved into washington dc in 1976, and three months -- a couple of weeks later i said oh, my favorite television