From the Heritage Foundation, I'm Michelle Cordero, and this is Mass Ave.

On this vote, the yeas are 227 and the nays are 203. The conference report is adopted without objection.

The motion to reconsider is laid upon the table.

This just crossing right now, just coming in Bank of New York, Mellon, just announcing it will

raise wages for 1,000 of its employees. This is Apple says it's going to create 20,000 new jobs

and bring back billions of dollars from overseas. And they're all saying, you know why?

Tax reform. A lot of you are seeing a bigger paycheck starting today, the new tax cuts, keeping more money in your pockets. So this is going to be the biggest tax cut and the largest

tax reform in the history of our country. Unemployment is at a 17-year low, and wages are rising faster than they have since 2009.

Hundreds of businesses have announced raises, bonuses, and new investments directly benefiting

millions of Americans.

But just as we're about to celebrate, sadly, Congress is on

its way to undo it all. This week, we sat down with Adam Michelle, a policy analyst in Heritage's

Thomas A. Rowe Institute for Economic Policy Studies to talk about how Congress is ruining tax reform.

Hey, Adam, thanks so much for joining us.

Thanks for having me on.

Adam, you recently wrote that Congress and the president are repeating mistakes of history,

that portions of both the Reagan tax cuts in the early 1980s and the Bush tax cuts again

in the early 2000s were ultimately reversed. Can you give us a

little bit of a history lesson here? What exactly happened? Yeah. So when Congress doesn't have

the motivation to actually reduce spending, we see this time and time again that pressure is put

on them to reverse tax cuts that they put into place.

And as you said, the sort of first round of Reagan's tax cuts in the early 1980s, 1981, which were actually the larger of the two Reagan tax cuts,

...