regular order and having a regular process but also making sure that all the parallel structures including this initiative going around foreign policy hah has to stop. it has to be at the heart of it. >> i wanted to touch on what you just brought up. our global affairs correspondent has reported that steve ban nondid it also around vice president pence when it came to the european union. just as mike pence is headed to belgium before. apparently steve bannon had a conversation with the german ambassador. it was described as a combative conversation. spelled out a nationalist world view and cited a wave of
evidence of the clause similar to the one he previously articulated as the chief of breitbart news. >> i heard the same thing from our partners in europe. it's very troubling. as a matter of process you said apparently it undercut the vice president. at the same time he was engaged to try to reassure our european partners that we supported the european union and wanted to work with it. it's even worse as a matter of substance. it was a product of world war ii and what lead to world war ii in part was extreme nationalism, extreme protectionism. unfortunately many of the things he seems to be pushing. the eu was put in place to make sure they worked together and didn't allow these negative forces to lead to war. we would be undermining something that created and helped nurture 74 years a piece
in europe. and this as a matter of policy. a very negative thing for the united states. >> thank you for the expertise. >> thank you. >> thanks to all of you. our international viewers. for our u.s. viewers new day continues right now. >> we will not be silent. >> he is a firm believer in states rights. everybody agreed. >> have more protections from students. different value to member states. that should be reflected in our law. >> it is a loud group or small group of people. >> all the parts in pbs kids just to make a wall. >> this is new day with chris cuomo.
>> good morning. welcome to your new day up first the trump administration taking new controversial action rolling back federal protections for transgender students and public schools. the white house says it should be up to states and school districts to handle that issue. >> this as republican lawmakers are confronting more red hot anger. sounding off at these town hall meetings across the country. meanwhile democrats are preparing to elect their party. we'll have it all covered for you. let's begin with joe johns live at the white house. good morning, joe. >> good morning, allison. the trump administration guidance on transgender bathrooms this morning is for schools to ignore what the obama administration said about this issue but they really don't give any new guidance other than that to the schools on what they're supposed to do next. >> the federal departments of justice and education issuing a
letter to public schools saying they no longer need to allow transgender students to use the bathroom of their gender identity rather than the gender they were assigned at birth. the white house arguing this week that this isn't an issue for the federal government to decide. >> the president as i said yesterday as a firm believer in state's rights. >> the move in stark contrast to candidate trump's position last april. >> they use the bathroom that they feel is appropriate. there's been so little trouble. >> so if she were to walk in to trump tower and use the bathroom you would be fine with her using any bathroom she chooses. >> that is correct. >> sources tell cnn they opposed the new guidance but was pressured to get on board by the president and attorney general jeff sessions. a source says education secretary betsy devos reminded
they promised to protect all students. issuing a strongly worded statement saying this is not merely a federal mandate but a moral obligation. no school district or state can advocate. reassuring concerned students that her department will investigate claims of discrimination and bull ligament and harassment against those that are most vulnerable in our schools. it rejects the inclusion of gender identity and interpretation of title nine and the federal law that bans sex discrimination in schools. hundreds gathering outside of the white house to protest. one of the performers at the president's inauguration that has a transgender sister tweeting mr. trump you gave me the honor to sing at your inauguration. please give me the honor to meet with you to talk transgender rights. >> and as you might expect this issue is far from resolved. there's a case pending before the united states supreme court
and highly likely that the justices will get the opportunity to have the last word. >> thank you very much. meanwhile the anger continues at public and town halls across america. the white house claims without offering any evidence that the out rage is partly manufactured by activists paid to protest. ryan young is live where another town hall takes place today. >> good morning allison. so far we're expecting people to show up here. this is becoming a contact sport. across the country people are letting their voice bs heard. >> now republican lawmakers across the country coming home to this. facing off with scores of enraged constituents. the anger palpable in arkansas. senator tom cotton looking out
over a sea of protestors in a packed town hall. some emotional about the prospect of losing insurance coverage under obamacare. >> what kind of insurance do you have? >> others expressing their frustration over the new administration including this 7-year-old boy. >> donald trump makes mexicans not important to people who are in arkansas who like mexicans, like me, my grandma and all my people. and he is deleting all the parts in pbs kids just to make a wall. >> in new jersey a record crowd. >> how you will mobilize the other republicans to push back against this man when he makes
delusional statements. >> he shouted down for not standing up to the president's so-called alternative facts. >> i believe that when the president misstates for example. >> tempers erupted after the congressman side stepped this question. >> will you you support a bipartisan investigation of the trump administration's dealings with vladimir putin and russia? >> i'm not sure that an investigation which would take up an awful lot of bandwidth in the congress is -- >> liberal groups across the country holding town halls for lawmakers that are reluctant to face voters. the president and white house down playing the wave of
opposition. >> i'm not a paid protestor. >> a few farmers worried about their health care asking what would happen to their health insurance if it gets repealed. and standing room only this morning. >> those are the members of congress that are brave enough to go to the town halls. joining us now is one of the lawmakers that just saw him and it was hot in there. republican congressman leonard lance of new jersey. thank you for joining us this morning. some of your colleagues are ducking this and doing teleconference town halls. >> i've done town halls over the course of being in congress. i've done 40 in person, 40 over the telephone and this is a
matter of regular course for me and i was pleased to have a town hall meeting where there were roughly 900 people in the main room and 400 people in a spill over room and i'll be doing another town hall meeting saturday morning. >> so i want to play one of the moments that seem to kind of characterize what the back and forth was. >> all right. now this is an odd situation where you have a president in party and your constituents are screaming push back. when the president misstates and as soon as they heard the word misstates and it played to them as you weren't owning your own criticism of the president. they started to shout push back. what do you make of their
demand. >> i think it's important that a fact has not been stated accurately that i indicate my position and for example the president won with 306 electoral votes and that's not the largest majority since ronald reagan. i stated that and a person that speaks the truth and i continue to do so and that is the message last night. >> there's a statement and intentional mistake and all those words. that's what this is really about with president trump. it's not that he was wrong and forgot about president george h.w. bush it's that he'll say 3 million people voted illegally and have not a shred of valid proof for that and set us on a
course of deception on that issue that has a lot of ramifications. do you believe it's more than just misstatements and wrong than being deceptive. >> i hope the president isn't being deceptive. there's those of us in congress as well and i think people deserve that. >> i understand why saying that the president had been deceptive about something that is politically dangerous but let's put it this way. do you think you would be comfortable havi comfortable -- those at the town heal meeting last night were not paid and if the white house believes many of those at town hall meetings have been paid
that is an inaccurate statement and i indicated last night at my town hall meeting that these were constituents and they were the there. >> if people had organized to come in and get people together that shared like minds on a certain issue would there be anything wrong? >> people have the right to organize and i'm a strong believer in the first amendment and nothing wrong with organizations i do believe that most of those at my town hall meeting last night where they're based upon being constituents in the district and i was pleased to be able to interact with it. >> now this weekend you're probably going to get questions about what the white house just
did with transgender bathrooms and just so people understand the obama administration put out federal guidance on this. it wasn't necessarily law but it was a shadow of protection. the court froze it so it's been in limbo anyway. and 43 republican congressmen who agreed with president obama on a similar law or executive action which turned into law on contractors not being able to discriminate on the basis of gender. you got criticism for that. what is your position about what the white house just did? >> i would have to review what the white house just did chris but let me say regarding contracts i don't think there should be discrimination against anybody and as i understand the secretary of education said yesterday that she believes we have to protect all students.
and not discriminate against anyone. >> the politics are, apparently according to sources and reporting and not contradicted by the white house at this point was compelled to do this. she was forced to do this. she didn't want to do it. she didn't think it was right. it was in the language as a half measure at the end. what does that say to you about how this was done? >> it says to me that betsy devos is someone trying to do what is right for the american people. i know that the secretary was criticized during the confirmation process and take the lead on educational issue and i hope if this becomes the responsibility of the states allstates will protect young people in the schools across the country. i do believe that states have
the primary role in educational matters but i hope that the secretary is able to ensure that all students are treated equally. >> right but this isn't an educational matter unless you want to extrapolate it as potential intolerance. the reason that we saw the white house and president obama move on this is the absence of this protection in title nine at this point in time. if you don't have a federal shadow of protection over this you're going to go case by case and every manifestation of our lives and whether or not the lgbtq community has equality of rights. you'll have to go case by case if there's no overarching protection. are you okay with that? >> i believe that congress should ensure there is protection. i suspect there is a role for congress in this matter. i want no discrimination anywhere in america. we should be a country that believes in equal treatment chris for all of our citizens
including young people. >> it will be interesting to see after you review more in depth, thank you very much for joining us. appreciate you taking the time. >> well, mexico is slamming president trump's immigration actions ahead of a high stakes meeting. two of trump's cabinet secretaries today and arizona congressman weighing in on what he is seeing in his community, next. gets the network it deserves. verizon. (mic thuds) uh, sorry. it's unlimited without compromising reliability, on the largest, most advanced 4g lte network in america. (thud) uh... sorry, last thing. it's just $45 per line. forty. five. (cheering and applause) and that is all the microphones that i have. (vo) unlimited on verizon. 4 lines, just $45 per line.
mattress firmness? fortunately there's a bed where you both get what you want every night. enter sleep number and the ultimate sleep number event, going on now. sleepiq technology tells you how well you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep number store. right now, save 50% on the ultimate limited edition bed. sale ends sunday! go to sleepnumber.com for a store near you. why are you checking your credit score? you don't want to drive old blue forever, do you? [brakes squeak] credit karma, huh? yep, it's free. credit karma. give yourself some credit. there goes my sensitive bladder. sound familiar? then you'll love this. incredible protection in a pad this thin. i didn't think it would work, but it does. it's called always discreet watch this. this super absorbent core turns liquid to gel,
for incredible protection that's surprisingly thin. so i know i'm wearing it, but no one else will. always discreet for bladder leaks you cbest not to spend your life seekentire bank account.is. find a lower price and we'll match it. plus 50 bucks off your next trip. travelocity® wander wisely™ won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance.
secretary of state rex tillerson and kelly are in mexico today to meet with the president there. the visit comes as they blast the trump administration immigration enforcement actions and continued talk of a border wall. joining us now is the democratic congressman. good morning. >> good morning. what do you see secretary of state tillerson accomplish while in mexico? >> calm the tensions between the
united states and mexico and a big trading partner of arizona and we had years and years of relationships with law enforcement across the way and antagonistic relationship that's not going to help bring us more security. >> and even the trump administration is phenomenal. why do you see it so differently. >> i talk to the mexican government. i talk to the mexican senators and read our mexican newspapers and you know that's quite the opposite. they're threatening to do boycotts of u.s. goods. especially foreign products and some senators are threatening to cutoff other relationships, especially with the united states. i think sean spicer is very loose with the troops. in fact as we have seen in the
past he's doing that right now. >> is this just about the border wall. if so doesn't the u.s. have the right to protect itself as a sovereign nation. >> no, this did not start with the border wall. this started with donald trump's campaign coming over to this country rapist and thugs and also this unilateral action that the united states is trying to take on mexico. a country that we worked with for many years and such a strong friend and ally we should have had almost a century now. it's how we treat a friend and i don't think it's going to be productive in the end. >> with the mexican foreign
minister it said that. i want to make it clear in the most imfattic way and opposed by another government. so this is going to be tough for secretary of state tillerson. i heard it described as clean up on two. it's going to be complicated because obviously sometimes president trump says something different than what those around him say about mexico. >> well, this is typical right now of our foreign policy. you have some of our greatest representatives whether it's tillerson and cleans up for trump because he runs his mouth without knowing the consequences of what he is saying. it's really up ending years of relationship and work. let's not forget mexico has been
extremely helpful in trying to stop terrorists from coming to this country and sacrificed blood, sweat and money fighting terrorists. they have thousands of police officers that died trying to stop the flow of drugs north and when the president tries to intimidate or insult a country by just one tweet it does mess up cabinet members and other people and makes our job harder. >> how do you see the new immigration orders that came out this week for the trump administration in terms of how to deal with undocumented immigrants. do you see it as they will or will not be prioritizing criminals for deportation and do you see it that dreamers are exempt? >> well, one, let's be clear. there's nobody against prioritizing criminals. when we talk criminals we want
to be sure that we're not using a broad term. would also be against that type of element in their neighborhoods. the problem with the protective order is that trump uses the term criminal very broadly and is going to cast such a wide net. it will essentially start what we believe is a fact or mass deportation. as for dreamers on paper they are safe for now. but what we're seeing at least with donald trump is that there will be a dreamer in seattle who without any type of proof is being held by ice because they believe he has gang activity. hasn't gone to court. hasn't had due process but they're still trying to deport him. that's not the way we do things in the united states. everyone has a right to due
process. it's what can happen under the trump administration. >> that's the case that you are referring to who is right now being held. continue to watch that case thank you for joining us with your perspective on all of this. >> thank you for having me. good morning. >> the immigrant, muslim and lgbtq communities all concerned about the trump administration's policies and what can be done to alay their fears. are they justified? let's discuss, next. (vo) maybe it was here, when you hit 300,000 miles. or here, when you walked away without a scratch. maybe it was the day your baby came home. or maybe the day you realized your baby was not a baby anymore. every subaru is built to earn your trust. because we know what you're trusting us with. subaru. kelley blue book's most trusted brand.
on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you 24/7. call for a free quote today. liberty stands with you™. liberty mutual insurance. why are you checking your credit score? you don't want to ride the 13l forever, do you? the doctor said it's not contagious. [coughing] credit karma, huh?
yeah, it's free. credit karma. give yourself some credit. put in place and president obama is getting strong reactions on both sides. let's discuss it. we have our cnn political commentator and contributor and former new york city council speaker. thank you all for being here. let me start with you. what do you think about the trump administration's
motivation and timing for taking away the federal protections. >> i think the entire action is cruel. transgender students have a much higher rate of suicide and attempted suicide than other children and other students do. why after really n my opinion the only positive thing he ever said in the campaign trail was that he was not going to touch the lgbt community's rights. why single out transgender students. some of the most vulnerable americans in the country, there is no other way to describe this than cruel. i don't understand. why would you focus on hurting children who are suffering. it has been documented and people may or may not want to argue title nine and whether it covers it or not and that's a
legal decision, discussion but this is about these children. >> why on day 32 of the new presidency did trump administration feel the need to do this? >> because it had nothing to do with hurting children. look a agree with president trump entirely when he said he doesn't mind caitlyn jenner using the same restroom as him. i don't mind that either. i assume it's taking into consideration the rights of women. there were a group of sexual assault victims that came out in seattle against the washington transgender saw saying we're not worried about it however we are worried about men coming into the bathroom and taking advantage and when a man walked into the locker room undressed in front of little girls changing before swim practice. >> it's not -- let's be clear
here, that's not a transgender man that walked in there. >> that's why i say it's not about transgender individuals. it's about people taking advantage of it. >> wait. wait. people that are rapists and sexual predators take care of any loophole at any moment they can. they will tragically attack children on the street. come up behind women on the street. and states rights is always what people who are attempting to discriminate fall and we're not -- did not. you just made the case for exactly why this looks hesitantly. sexual predators will take advantage of any law. >> does that one incident that you're referring to for sexual
assault, does that eclipse the protections that teenagers and high schools thought they have. >> if you follow that school of thought you block people of different genders and took place and there were multiple cases. you can find there's at least 21 times people took advantage of the law and preyed on women. >> that is not a fact. >> hannah, what do you think. okay and i'm a republican. i am 100% in favor of lgbtq rights. they have the same exact rights that i do to love, to marry, to live, to live in liberty.
where ever they want and where ever they feel it. i actually have friends that are transgender. in fact one of them, he also happens to be the son of the republican congresswoman. i asked him yesterday how do you feel about this? he sent a clear message from the white house that they don't. it's very difficult to be a teenager in any event. i would encourage president trump to tmeet with the son of the congresswoman and ask them what the solution should be. ask them how to go about it and let's start start talking about sexual deviants and predators. sexuality does not equal morality. they're completely different situations and completely different conversations.
it's unfair to target these that are already so fragile with such words and such discussion. >> we are talking about human beings. >> i want to correct the record because you took me out of context entirely. i am not worried about them preying on women. i am worried about men taking advantage of this. straight men coming in and preying on women. you have to consider the right of sexual assault victims too. >> we talk about immigration, you find them and try to paint it with a broad brush stroke. we're talking about rans gender youth and you find some horrific case involving a sexual predator. >> there's many. >> you paint it with a broad brush. >> they have been attacking people with or without transgender. >> sexual predators will find it and it does feel like you're
introducing that level of sexual deviance. >> you do this repeatedly as do other trump supporters. you don't say -- you say something, imply something and say you're not saying it. we're talking about transgender children can. you're a lawyer. if you wanted to debate title 9 we can have that debate. but you bring up sexual predators. so people will leave this segment and have heard two things, transgenders and you do it and the trump supporters do it to create smoke screens to substantiate and validate discrimination and we need to call the trump supporters on it. it's pivot and discrimination. >> when i began this segment today i have no problem with caitlyn jenner using the same restroom as me -- please i let you speak -- and i said i do not mind if a transgender person
uses the restroom with me however we have to be consider of young women. let's see how it works out. >> okay. i want to bring it up. >> hold on one second because betsy devos is very interesting with the new secretary of education. we understand from our sources did not want the trump administration to do this and to roll back these protections. she made her feelings known to attorney general jeff sessions. get on board or basically get out. you can re-sign the department of education this is the
directive that will be coming from your demeanor and, in fact, she got on board. within the white house about this person. >> i can see why jeff sessions or betsy devos would have different philosophies and a deologists. betsy devos, find your voice and use it. you are a billionaire. you don't need to put up with this. you're going to do this, do it because of conviction. do it because of principle. follow your heart. follow your conscioence and spek up. it sets a dangerous precedent for the increasing power of jeff sessions and if they ran over her and she doesn't speak, if she doesn't find her spine and
stand up straight that woman is going to have railroad tracks all over her before the next four years. >> kelly, you're going to be speaking to betsy devos today and interviewing her. this might come up. >> it might come up. this is the beauty of the trump administration. she voiced some -- >> it sounds like they did tell her get on board and get out. >> responsibility to protect every student in america. to ensure that they have the freedom to learn and thrive in a straight and trusted environment. that does sound like strong language. this is not only a federal mandate but moral obligation. no individual school district or state can advocate but the protections are rolled out. >> it can be interpreted in two ways either she disagrees or is reaffirm dwoeg have discrimination laws in place.
lgbt people are protected in this country but that's the beauty. she is allowed to put out a statement and express her opinion and fully respected of that. >> there's no federal law that prevents discriminating housing employment or public accommodation for lgbt people so remember these children are not protected. lgbt people have no federal protection at that level. >> thank you for making that point. thank you very much for having this debate. >> thanks. >> down to atlanta and chris. >> you really got to the main issue. we're going to play it out in the supreme court case. state by state equality is what equal protection is all about in the constitution. great discussion. once again on display at town halls across america we're going to hear from two people that confronted their congressmen. are they legit? hear from them.
republican lawmakers continue to speak at town hall across the country from furious voters demanding different behaviors. [ applause ] >> i can tell you three members of my family including me that would be dead, dead and homeless if it was not for aca. you work for us. >> the choice is as lawmaker when you show up for this who
will you be facing? she attended a town hall in kentucky for senate majority leader mitch mcconnell. now famous for saying i'll sit down and shut up like elizabeth warren. >> let's talk about who you two are and let's address the skepticism. you were so passionate you must have been a plant. you were paid to be there. you're an organizer from an outside constituent sy and you're going there to make republicans look bad but you're fake. >> well. >> that's the criticism. what's your response. >> well, you know what, i must be a complete sucker because i'm not getting paid. if there's people getting paid to do this, somebody hire me. i need a job. i would love to be paid to do
this. but no, that's not happening. i'm not going to the mailbox and picking up the checks. that's made up. >> we were looking at your town hall and yours and others as well, i don't see people, look i have been to tons of different protests and, you know, comings together where there is an aspect to it and you'll see the organic aspect turn and you're not from here, you don speak for me, who are you? i'm not seeing that in these town halls. what has been your experience? >> well -- hold on. >> i'm not a paid protestor either and i'd like to apologize to members of the tea party back in 2008-2010 i accused them of being astroturf paid. i'm just an engineer and the
only way i need to do that is to go to a town hall for my congressman and, you know, i met somebody at the town hall that lived on the same street as me. i'm not a member of any organization. i'm a democrat. >> all right. and rose when you went there you stared mitch mcconnell in the face. what did you see staring back at you? >> dollar signs in his eyes and apathy. he's lost his way. he's out lived his usefulness. he's not doing anything for us. and there's so many lies. i felt like when i saw the video of myself i was so stunned at the way i was screaming. i didn't even realize i was doing it but i wish what they had shown, i wish they had shown his remarks before i laid into him because i did not go there intending to say any of what i said. >> what did he say that set you off? >> it was a bunch bull manure.
>> easy. >> in substance. >> he talked about cold jobs and i'm not -- there's more insenuation than out right lies but that's how they got the votes is making them think the jobs were coming back and when i sat there and listened to him be untruthful for i don't know how long he spoke, 10, 15 minutes or whatever it went through me. it just went through me. i am so sick of this culture of untruthfulness and, you know, we know right from wrong. we all grew up knowing what a lie is and what the truth is. and we have got so many of these pole cat politicians telling us things that just aren't true. he was sitting there looking in a room of educated people and we knew the truth and they're sitting there nodding their heads. >> why were they nodding?
you couldn't vote in democratic party in kentucky but mitch mcconnell won many times. he earned a senior position and when we look at the poll numbers for the president there's a perception that he's unpopular but within his party he has over 80% recognition and maybe in that room while there are angry democrats i'm not discounting that but the people that put them in there, let's get rose back and we'll talk about that. same question to >> sanjay same question to you. the people who put mcconnell in the room with you, they are not as angry as you are and that's how the process works. >> that's true. he won fair and square. at least he's been quoted many times saying there's paid protesters coming after him. what i think he doesn't realize is there are people like me in his district. we're his constituents as well. needs to represent us. when he went after eric cantor in his primary in 2010, he went after him because he said he had
lost touch with his district. dave bratt didn't even debate his democratic opponent in 2016. he was elected. he won fair and square. if you look at the popular vote around the country, it doesn't give the representatives a mandate to govern from the hard right. i'm willing to admit our side didn't win by the rules as they were laid out, but it doesn't mean you have a mandate to govern from the right. it means that you still need to listen to those of us who voted in the majority against what you were initially running on. you have to represent your constituents, but you have to listen to all of your constituents, and you can't attack all the way to the right. we're not a far right country. at best -- maybe at the time we're in now, we may have been center right. there are still some of us who want to pull it center left. >> there's a pendulum that goes back and forth in our elections. we've all lived it. but now, sanjay, what we have to do is see where we go heading forward. we like having sets of ears like
yours all across the country. you come back on and let us know how you're feeling and how the people in your district are feeling. >> our thanks to rose mudd perkins as well. we lost her feed, but not her passion. you saw what she did at that town hall. we'll see it all over the internet for days to come. >> we sure are. we'll be talking to lawmakers about what they're confronting as well. on president trump's agenda, listening to business ceos. we'll look at what he's already done and what's ahead in his business plan. that's next. and now, i help people find discounts,
-yeah. -how do you go to the bathroom? great. any insurance-related questions? -mm-hmm. -do you have a girlfriend? uh, i'm actually focusing on my career right now, saving people nearly $600 when they switch, so... where's your belly button? [ sighs ] i've got to start booking better gigs. chief business correspondent christine romans is here with me. christine, i understand the dow is going gangbusters. >> an incredible nine-day winning streak now. nine days. what makes it even more impressive, all of these are record highs. nine all-time highs in a row. the last time that happened, january 1987 when the market hit
12 straight records. what happened in 1987? it crashed later that year. we could see ten in a row later today in terms of records. futures are ticking higher, stock markets in europe and asia are mixed. two big stories for investors. one, the fed is ready to hike interest rates. two, tax cuts are coming. the big question for both of those story lines, when do they happen? the fed says fairly soon in terms of rate hikes. that could myanmar or may. treasury secretary steve mnuchin just said the administration is hoping to get tax reform done by august. if all that goes as planned, the stock market could continue that rally. wouldn't have to see a repeat of 1987. >> i hope not. i hope this isn't the precursor to something like that. >> you look at the expectations for growth and pro growth policies are, that's been fueling the stock market. people want to see that come to fruition. >> christine, thank you very much. great to see you. let's go to atlanta and chris. >> much chin said august on tax
reform, said shooting for 3% growth, the president said 4, 5, 6% growth. president trump is also holding a listening section with manufacturing ceos today. already signaled a more permissive business climate. what does that mean? why is it good for you? stephen moore, senior economic analyst and chief economist at the heritage foundation, great insight on this. we have anthony chan, managing director and chief economist at chase. let's start with the headline we got from steve mnuchin. august -- we'll see it in august. sounds like a long time to others. i know you're frustrated by the process here with taxes. why and what should be happening? >> i think we should move much faster. i think this could be done in 100 days. i think the economy needs the
pick-me-up. i have no doubt if we get this tax cut down, especially the lower business taxes. we have the highest business income tax rate in the world, leading to companies leavings the united states, burger king, medtronics, johnson controls, get that business rate down to 20%, i guaranteed that tide will revrs and businesses and jobs will come back to the united states. i want to see it down faster. i think the markets do, too. >> the political reality, what we saw with the travel ban, sometimes haste makes waste. you've got the tea party pushing back very hard on paying for every dollar and being careful about the deficit. that makes it very hard for tax policy, steve. how do you deal with that? also, to the critics out there with business tax, yeah, the nominal rate is in the 20s -- or even higher -- but the actual rate is much lower than that. is that a fair appraisal of reality that you're giving and what about the political reality
about tax reform? >> chris, talk to any business leader -- i had lunch with jeff immelt, the ceo of general electric. he said if you do this tax cut, allow companies to bring that capital back home, that's another part, repatriating capital stored overseas at a 10% tax rate. he said they'll bring billions back to the united states and create more jobs here. i do think this is going to be a big job creator. there's universal agreement. one other quick thing, chris, you have to do this tax cut for the 267 million small businesses as well, not just the big corporations. that's actually in the trump plan. >> actually a discussion about why don't small businesses have their own tax treatment, why do they have to file as individuals? that's something else that goes to the political realities. mr. chan, another place we're seeing economic realities and what the viability for this economy play out is with immigration. if you get rid of all these
people doing lower end parts of the economy. jobs like in our agriculture business and in our hospitality business, what does that do to the chance of hitting a 3% gmp productivity mark we're hearing from min nuch in? >> i think it's clear it becomes a little challenge. we have over 10 million undocumented people in the united states, but we have about 7 million that are actually working in the u.s. labor force. an interesting academic study was discussed in the media yesterday by professor ortega which estimates over the next ten years it has the potential of reducing gdp by as much as $4.7 trillion and reducing the growth rate of gdp twoo between 3.5 and as much as 4%. we know that the components of economic growth are productivity growth and labor force growth. right now product tift growth is basically dead in the water.
with all the deregulation that's likely to take place and all the productivity enhancing methods or techniques that the president proposed, i can see productivity going up to .5% or maybe 1%. that still leaves that population factor that is out of the equation. so it's not a question of whether we prefer one ethnic group over another one, but if we get rid of seven million workers, we're not going to get that growth, that or force growth we need to get, that 3.5 or 4% growth. actually i'm looking for only 2.2% and 2.5% next year. we have two options. we either can replace those undocumented workers with another group of immigrants or we can use morrow bots and, therefore, no workers whatsoever. it's unlikely we'll be able to do that in a very quick period of time and get those kind of growth rates if we get rid of 7 million workers. >> steve, i want to bring you in here. you laughed when yai