CNBC Press Releases

HARWOOD: LET ME ASK YOU ABOUT THE ISSUE OF PRIVATE EQUITY TAXATION. YOUR COUNTERPART IN THE SENATE, HARRY REID, HAS INDICATED HE'S NOT GOING TO HAVE ENOUGH TIME TO PASS LEGISLATION THAT WOULD TAX CARRIED INTEREST, WHAT IS CALLED INTEREST ON HEDGE FUND MANAGERS AT ORDINARY INCOME RATES. ARE YOU AND THE HOUSE GOING TO MOVE FORWARD WITH THAT LEGISLATION EVEN THOUGH THE SENATE'S NOT LIKELY TO ACT ON IT? OR ARE YOU GOING TO DROP IT AS WELL?

PELOSI: I HAD A DIFFERENT VIEW OF WHAT HE SAID, I KNOW HE SAID WHAT YOU DESCRIBED, BUT IF IT BECOMES AN ISSUE THAT IS PART OF FISCAL DISCIPLINE WE MAY HAVE TO REVISIT HOW SOME OF THE ALTERNATIVE MINIMUM TAX BREAK FOR THE MIDDLE CLASS ARE PAID FOR, SO IF THERE IS A REASON TO REVISIT --IT WILL BE

HARWOOD: SO IT'S NOT DEAD YET?

PELOSI: LET ME JUST SAY THIS, I THINK I UNDERSTAND THE SOPHISTICATION OF THE ISSUE, BUT I ALSO KNOW THAT IF IT IS ORDINARY INCOME, IT SHOULD BE TAXED AS ORDINARY INCOME. IF IT IS CAPITAL GAINS, IT SHOULD BE TREATED AS CAPITAL GAINS AND NOT ALL CARRIED INTEREST FALLS INTO THE CATEGORY OF CAPITAL GAINS.

HARWOOD: LET ME ASK YOU ABOUT A HOT ISSUE, THE S-CHIP HEALTH CARE DEBATE. YOU HAVE YOUR OVERRIDE VOTE ON THURSDAY. REPUBLICANS TELL ME AND SOME DEMOCRATS AS WELL YOU'RE FAR FROM HAVING ENOUGH VOTES TO OVERRIDE THE PRESIDENT. IS THIS JUST POLITICAL THEATER WE'RE GOING THROUGH AND THEN YOU'LL HAVE A NEGOTIATION AFTERWARDS, OR IS THERE ANY REASON TO THINK YOU COULD ACTUALLY FLIP THE 14 OR 15 MEMBERS YOU WOULD NEED TO GET TO 290?

PELOSI: WE HAVE AN INIATIVE THROUGHOUT THE COUNTRY OF GOVERNORS REPUBLICANS AND DEMOCRATS ALIKE APPEALING TO THEIR MEMBERS IN CONGRESS TO OVERRIDE THE PRESIDENT'S VETO. EVERY ORGANIZATION YOU CAN NAME, AARP, AMA, THE CATHOLIC HOSPITAL ASSOCIATION, ANYBODY WHO CARES OR HAS ANYTHING TO DO WITH CHILDREN'S HEALTH IS APPEALING TO MEMBERS OF CONGRESS TO MAKE THIS CHANGE. -- TO OVERRIDE THE PRESIDENT'S VETO. I WOULD HOPE THAT WE COULD DO THAT, BUT WE WILL NOT REST UNTIL THOSE TEN MILLION CHILDREN ARE COVERED. THINK OF IT THIS WAY. FOR 40 DAYS IN IRAQ WE COULD COVER TEN MILLION CHILDREN IN AMERICA FOR ONE YEAR. FORTY DAYS, TEN MILLION CHILDREN AMERICA FOR ONE YEAR. THAT'S WHEN WE TALK ABOUT REALIGNING THE PRIORITIES.

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