Time to cut the capital gains tax

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**Larry Kudlow** (1:05)
Hello folks, welcome to Kudlow, I'm Larry Kudlow. So, IRGC Iranian missiles hit three tankers in the Strait of Hormuz in the past 24 hours, and the US has now revoked Iran's oil sale authorization.
But the big question is, is this whole MOU memorandum of understanding dead, and will further action be necessary? Meanwhile, President Trump is attending NATO summit in Turkey, and made another big play for Greenland. Take a listen, President, earlier today.

**Donald Trump** (1:40)
Greenland doesn't help Denmark. That should be controlled by the United States, not by Denmark.

**Larry Kudlow** (1:47)
I love the Greenland play. And by the way, the president of Finland, Mr. Alexander Stubb, he believes Ukraine has won the war against Russia. We're going to talk to Aaron Cohn and Roger Zachim in just a few moments. Plus, US trade rep, Jameson Greer, is going to tell us about the administration's decision not to renew US. MCA, and what comes next in the negotiations. And by the way, Toyota is going to move a plant in Mexico into America, actually into Texas. Yippee-di-yay. And is socialist, communist, Nazi, tattooer, Graham, Platner finally out in Maine?
Look, Susan Collins is going to win anyway. The GLP is going to take the Senate. We'll talk to Reince Priebus and Giano Caldwell about this whole gory story. And folks, it's time to cut the capital gains tax, okay? Time to cut the capital gains tax, put it in reconciliation 3.0. Speaker Mike Johnson is right about that, but we're going to have to persuade Senator Thune and President Trump. Take a listen to the speaker when I interviewed him last week.
How about indexing, inflation indexing, the capital gains tax or exempting from the capital gains tax, a higher exemption?

**Mike Johnson** (3:09)
Some of those ideas are things that will be difficult to say no to.

**Larry Kudlow** (3:13)
Difficult to say no to. So let's get to yes in 3.0. Anyway, EJ. Antoni, John Carney, be here on set and talk about the whole thing. But first up, Fox News, Mark Meredith is live from Ankara, Turkey. Mike, thank you for doing this. What can you tell us?

**Mark Meredith** (3:31)
Larry, good morning to you. I should say good evening. Sorry.
Just like the NATO summit here is a mixture of pop and circumstance. The president just wrapped up his day. He had a long travel day too. He had a celebratory dinner with many world leaders. That was kind of the end of day one of this two-day summit. But the president also had a very warm greeting from Turkey's president. We also saw the NATO secretary general as well as the leaders of France, Germany, Greece and Italy all on hand. But even as the president arrived, he still remained quite critical of the NATO alliance, especially amid this year's US-led attacks against Iran.

**Donald Trump** (4:07)
I was very disappointed with NATO. And frankly, if it weren't held in Turkey, where my friend happens to be a very strong leader, a very strong person, it's possible that I wouldn't have attended.
I felt I had to attend because of the fact that I know he's gone all out. It's a big thing to have a NATO come to Turkey or anyplace else. It's a big thing.

**Mark Meredith** (4:33)
And as the president was saying, he had nothing but great things to say about Turkey's leader. The president says the US will lift sanctions against Turkey. These are sanctions that bait back to his first term back in 2020 after Turkey purchased a Russian-made missile defense system. There are also indications, because we know Turkey wants to do this, they want to buy the F-35. The president didn't shut the door to that, but he certainly left it open. Earlier in the day, NATO was showing off its own military capabilities with fighter jets. NATO leaders say this was all an attempt to show how member countries are investing more money into building up the alliance's defense capabilities. We are also seeing the president of Ukraine, Volodymyr Zelensky, on the ground here in Turkey. He was at the dinner this evening. He's going to have a one-on-one with President Trump tomorrow on the sidelines of the summit. Of course, Larry, Ukraine has been so determined to get more resources, not only from the US, but for NATO as it continues to wage war against Russia. But we look to see if whether or not there could be any side that the US would be ready to commit more military power. Zelensky, of course, is looking for all the help he can get. Larry.