Larry Kudlow, an economics adviser to President Ronald Reagan, said President Donald Trump’s dealmaking with lawmakers is reminiscent of the Gipper’s.

Trump on Tuesday addressed Republican lawmakers in a closed-door meeting at the Capitol, warning them that they could lose their seats in Congress if they don’t pass a bill to overhaul Obamacare. The disputed GOP proposal, known as the American Health Care Act, aims to replace the Affordable Care Act, commonly known as Obamacare.

“Reagan was a dealmaker. Trump is a dealmaker. The House has to learn to be a dealmaker,” Kudlow said on CNBC. “It's like the GOP needs to practice bipartisanship with itself.” He recalled times when Reagan and former Speaker of the House Tip O'Neill would hammer out government policy despite their differences.

Negotiations between the conservative House Freedom Caucus, which wants a complete repeal of Obamacare, and Trump have been ongoing since Speaker of the House Paul Ryan, R-Wisc., introduced the bill last week. The vote is scheduled for Thursday.

Kudlow, an economics adviser to the Trump campaign, says he’s impressed with the president’s willingness to bring lawmakers to the negotiating table at the White House and on Capitol Hill.

“President Trump is right,” Kudlow said. “If they don't get this done, they're going to be hurt next year. I give him a lot of credit. This is the Trump that gets things done.”

Stocks fell more than 1 percent early Tuesday, the worst one-day decline since before Trump's election victory, as investors began to question whether the president's pro-business promises would come true.

Kudlow last week told NewsmaxTV the focus of healthcare tax credits should be on people who earn an annual $40,000 to $70,000 a year, not those taking home $150,000.

“You don't need $150,000 a year people getting tax credits. You just don't, most of them get it through business anyway,” Kudlow said. “What you do need is more tax credits, more generosity to the low-income people. Help those to get out of poverty, give them vouchers, let them shop around for insurance."

Kudlow is author of the book "JFK and the Reagan Revolution: A Secret History of American Prosperity," written with Brian Domitrovic and published by Portfolio.

"The federal government should guarantee risk pools for the ill so you can take that out of the private exchanges and then you'll see premiums collapse,'' he told Steve Malzberg on “America Talks Live.”

• Larry Kudlow: 'Trump's Dealmaking Abilities' Will Shine on Health Care Reform
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