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tv   Mornings With Maria Bartiromo  FOX Business  April 27, 2017 6:00am-9:01am EDT

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to the gym yourself, so silly. nicole: waiting on european central bank, dow futures up 12. watching for earnings for microsoft, amazon, just to name a few of the things we are watching as well as the durable goods numbers, lauren. lauren: tomorrow we get the first quarter gdp print 1.1% economic growth is expected, hopefully the tax cuts promised fbi white house will boost that growth all the way up to 3%. thank you so much for joining us this. nicole: i also we wanted to mention a couple of other things that we are watching for tomorrow, gdp, the april michigan sentiment and for earnings on docket for tomorrow, chevron, general motors, exxon, some of the things that we will be watching. oil down 41 cents, we will watch for that trade as well. thanks for watching. fbn:am. lauren: mornings with maria starts right now. maria: happy thursday,
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everybody, thanks for being with us. it is thursday april 27th, top stories right now 6:00 a.m. on the east coast. white house reveals tax cut plan, the proposal includes cig nesk antly lower and individual corporate tax rates, treasury secretary reiterating this will spark economic growth. >> we are going to bring back trillions of dollars that are sitting offshore and making u.s. businesses the most competitive in the world. maria: shift in trade policy, president trump dropping the threat of completely pulling out of the north american free trade agreement better known as nafta, details on what happened to his canadian and mexican counterparts about trade, coming up. another busy day in earnings calendar, this is a big one. we will here from bristol myers, big day for technology, big
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names coming out this morning. futures point to go gains at the opening of trading, we are expecting a higher opening for the broader average today. it is fractional about 12 points in dow jones industrial average at this point n. europe this morning markets are edging lower, take a look. the other majors down a quarter of a percent. the european central bank decision coming next hour. no policy changes expected out of the ecb as the french election looms. we will get those details and take a look at currency when the ecb news hits the tape. the best performer there hang seng and shanghai up a third of a percent a pies. we are following developing situation this morning in delaware, a state trooper killed as gasoline station, the suspect is barricaded in his home. he's armed and dangerous. we have the latest coming up this morning. plus another airline mishap to
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report, a man removed from his delta flight for getting up to use the restroom. the outrage coming up this morning. amazon moving to your closet, a look at new device that will help you pick out your wardrobe. joining me to talk all about it dagen mcdowell, jack otter and pwc partner mitch rochele is here. maria: we got it. we heard the news. dagen: finally. maria: exact plan. >> one-pager. maria: that's a good way to put it. dagen: what has been the problem in our economy, lack of business investment. you cut the corporate tax rate to 15% and apply it to small businesses and pass-through entities, huge boost for the economy, period. maria: how about the 10% one-time tax for bringing money overseas to the u.s. that's also a big deal.
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donald trump, the president, says that there's $5 trillion in overseas profit sitting there waiting to come back. >> that actually might happen. 15%. you can make me do something crazy, 15% is an opening bid for a negotiator. if he wanted 15%, he would have said 10. maria: it's strong for the economy. you're talking about coming back from 35%. >> exactly, low 20's will probably will and should end up. maria: talking about all of this and joining us colorado senator corey gardner is with us, bank america head sheron miller, pharmaceutical ceo bashad is with us. chairwoman kathy is with us as well to talk about the timeline there not just tax reform but also, of course, healthcare reform which we are expecting in the next couple of weeks. it is being called the biggest tax cut in american history. that's how the white house is
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categorizing president trump's sweeping new plan to overall the nation's tax code, it would cut individual tax brackets, 10,%, 25% and 35% at the highest rate. a couple filing jointly can deduct up to $24,000 of income. on the business side the corporate tax rate will be cut by more than half from 35% to 15%. it is also allowing millions of so-called pass-through companies to use that lower 15% tax rate. treasury secretary steven mnuchin says it's not just a tax break for the rich. >> this is really about a middle-income tax cut and this is about lowering business taxes. we need to make business exertive in the united states. this is about massive reductions
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in business rates for corporations and small businesses and many studies show that 70% of the tax burden falls on american workers, so by cutting business taxes, that will increase wages for more than workers and create more jobs. maria: joining us right now assistant secretary at the treasury department tony, always a pleasure to see you. of course, we are all waiting for this tax cut plan, we have the details now. some in the media are referring to the overhaul helping the wealthiest, mitch rochel just pointing out, why is that not the case, tony? >> well, look, the center piece has always been middle-income tax relief. that's what you get when you collapse from 7 brackets to three. as dagen pointed out with the 15% corporate rate where you have a lot of small businesses that are owner-operated by individuals benefiting from that
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type of lower rate. they will have access to a lot more capital to reinvest and create more jobs, when you think about it, maria, regardless of what the rate may be on the stop bracket, you are largely eliminating most of the deductions that frankly everybody agrees benefit the wealthy, so when you have the fact that we are protecting the charitable deduction, we are protecting the mortgage interest and the retirement savings, but everything else as far as deductions are on the table, the net effect is it's not going to necessarily be a benefit to the rich and largely it's going to be something that benefits the middle class and nothing ever benefits the entire country more and you have said this many times on your show than economic growth, we have not had sustained economic growth in this country over 1.6, 1.8% since the financial crisis, that's why we have such a bad economic condition when it comes to wages and job creation, so this is going to change when you have a plan that's a progrowth focus like we have with tax
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reform. maria: we are expecting gdp to be under 1% basically but the committee for responsible budget today and that's the pushback that's you're going to get. the question is how do you pay for it, do you pay for it with all the growth that you're expecting or how? >> sorry, maria, we respectfully disagree. it's funny that they are scoring a plan that we have not put out the details on. maria: right, that's true. >> legislative process that will include collaboration with congress. we understand also the impact, the compounding power of economic growth. sure, when you are at 1.6, 1.8, yeah, it's nearly impossible to think that growth could pay for it but when you get to 3% growth which is what the president and the secretary have determined is our goal and we can get to it with our plan, somist mated that
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could create $2 trillion in revenue. don't forget, this is being missed, by the way, there's a lot of things that pay for the tax reform which is largely what i mentioned when i comes to eliminating deductions and loops holes that have to be factored as well. maria: you are talking about a growth plan here. >> absolutely. i said yesterday this wasn't tax reform. i'm going to take that back because the trump administration actually wants to repeal state and local tax deductions. dagen: the fact that you're going after that, tony, it could race a trillion dollars over years but certainly people in high-tech states like new york, connecticut and california, democrat states, i might add. have you polled people in congress to get a sense how many people particularly in the republican party are with the outline of the plan. >> i'm a new yorker about to argue against my own personal
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interest here. [laughter] >> we firmly believe that it's not the role of the federal government to subsidize states and that creates unfairness across the country when it's that type of subsidy. we believe strongly that congress, the white house, the administration over here are very aligned on a lot of the proposals, the details have to be worked out. this will certainly be one of them, but we are very closely aligned on the broad principles and priorities which is why i feel so confident about tax reform happening this year. maria: mitch, how do you see it? >> lest talk about the past two entities for a second. what's it likely to play out on the way it's proposed? >> look, we have feel strongly that the president set campaigned on and won on economic policy of 15% that will go toward benefiting as dagen pointed out in her opening the small business owner operators, the message sent by this reform,
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mitch, if you're an entrepreneur thinking about starting a small business, do it, your tax policy is going to support you, if you're an existing small business and you want to grow, do it, because the tax policy will support you to maria's point if you're a corporation that kept your profits offshore because of uncompetitive corporate tax rate, reinvest in america, we will give you that chance, oh so this is a very progrowth, probusiness and i would add job's stimulating tax reform bill. plan. maria: i'm wonder wondering if you are able to put another revenue generating, let's talk about the trade story, the other big headline of the day. president trump telling leaders of canada and méxico that leaders will not pull out of nafta, quote, at this time. is the president leaving the door open to that negotiation and what might that look like in
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terms of an import tax or a reciprocal tax which, of course, is what the president spoke of instead of a border adjustment tax? >> let me just say that when it comes to the border adjustment tax and the way it was currently proposed from the hill, we didn't think that necessarily worked. we've kept open obviously the opportunity to have dialogue on that and came up with something that may be part of a trade-type of deal. but we are very committed by the way and this is the important principle whether it's nafta or pulling out of the tpp which is what the president did very early in the administration to creating a more fairer and free and balance trading system in the world in which the united states does not necessarily get taken advantage of for the fact that we have more open markets and among the big e trading markets in the world and we are going make sure that we renegotiate deals to benefit the american worker and american companies and american products, so this is definitely the
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philosophy that we believe in. maria: deficit neutral as oppose to revenue neutral because if you look at deficit neutral, you can put a raise somewhere else, not necessarily a tax plan, is that the plan? >> i think you're right that we believe in dynamic scoring which takes largely into account the benefits of growth. people forget when money is going -- being reinvested into our economy through the private sector, through individuals, that has a multiplier effect where the value is greater and that is something we foresee when you have a progrowth tax proposal as we put for yesterday where you are liberating tons of capital, whether it goes through business or the individual, small businesses, businesses of all sizes, we are liberating capital to be reinvest intoed the american economy and that's going to have a profound impact, maria, that does offset the costs of what sometimes tax cuts are scored at.
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maria: really big stuff, tony, good to see you, thank you so much for walking us through it. >> thanks for having me. maria: killed in a line of duty, delaware trooper shot outed of gas station, details next, back in a moment unt on, like what goes down doesn't always come back up. ♪ [ toilet flushes ] ♪ so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list. because your home is where our heart is.
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maria: breaking news this morning as huge explosion masks airport. cheryl: the airport is just 15 miles from syria's capital of
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demascus, syrian television stations are reporting the blast was caused by israeli air strike, israeli military spokesperson would not comment on the reports but the minister says the strike was combatable with israel's policy to prevent transfer of arms. the explosion hit arms supply of hezbollah which is an area where regular supplies of weapons from tehran are sent into syria by commercial and military planes. casualties have not yet been confirmed. we are looking for more details. okay, back here at home a cop killer has barricaded himself inside his home after gunning down a veteran trooper, the trooper now identified as steven jay, approached two men of a suspicious store of a convenient store, hostage negotiators are on the scene this morning, they have established contact with the suspect but the stand-off still ongoing.
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police have not yet released the name of that suspect, again, we are looking for me details coming out of delaware this morning, ongoing breaking news. another headlines this morning, delta under fire after they threw a passenger off the plane because he used the bathroom and a 30-delay on the tarmac. told to get off bathroom because he broke protocol. the video of the incidden which you are looking at he's asking why he's being removed. delta has responded, our flight crews are train today secure safety of all passengers, it's imperative that they comply. united airlines is going to
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offer up to $10,000 in flight compensation. company issuing a report addressing the april 9th incident, you're looking at the video where david dao was dragged off. 10,000-dollar incentive is part of changes of united including increasing training for employees and promise to reduce overbooked flights, common pract nice the industry and the report also stating united will no longer require seated customers to give up their seats and they are confirming their failure in dealing with doa's removal of the plane including calling on law enforcement to assist in that removal. certainly a story that has affected the stock in trading of numerous days. maria: incredible story, cheryl. coming up, beefing up delivery, mcdonalds is expanding service to bring burgers right to your doorstep, more on that coming up. several major companies
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reporting after the bell today, we are watching alphabet and amazon, what to expect from those technology giants. that will likely set the tone for tomorrow. preview coming up in a moment
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titans report after the closing bell tonight. jon hilsenrath to weigh in, jon, we are looking a pretty good earning season. jon: we are looking at a good earning season. we have to be talking about what's going on in the rest of the country and the stores are pretty good. companies are beating expectation about 6% and expectations, double digit earnings increase, 10% increase in earnings, so why are stocks rallying, why do we see nasdaq get over 6,000, it's because the rest of america is doing all right right now. maria: yeah. also the policy expectations but jack otter, these stocks within tech are up big, you look at amazon, apple, are investors anticipating continuation of strong earnings or is that more so the policy? jack: a couple of things, one thing with amazon, it's not really about earnings, it's
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about revenue and free cash flow, that brings up an interesting point, not only have we seen pretty good earnings, we haven't seen revenues. they're not going up because they are actually making more money, they are going up because they are cutting costs, we are seeing nice gain in revenue. are you seeing a good top line move as well? >> you know, i'm seeing in tech companies pretty good numbers. it's funny, we are talking about amazon, we are talking about apple, we haven't talked about microsoft which is also reporting today and they are seeing pick up from cloud-computing business and increase in pc sales, which seems like. twentieth century. i think we are seeing a little bit of revenue growth. overall economy didn't grow that fast in the first quarter so i don't think we can expect too much out of that. jack: one more dynamic, when you look sector by sector, energy earnings are up more than 500%,
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the bank earnings are looking very good. 5-6% number you cited which given recent history is not bad. jon: the other story that i'm looking at today is starbucks, we are talking about technology companies and there good numbers, starbucks has an interesting story right now. they've introduced mobile ordering and they're having a problem with it because they are getting bottlenecks at their delivery lines where you pick up your coffee. so they are reporting tonight. their numbers might not be that great. jack: yeah, sounded so brilliant and now it is causing more problems than it's solving, if they manage today get rid of that sticking point -- maria: okay. >> i can just go tell the person, hi, i would like coffee. maria: at this point the expectations are in place and they have been lifted, haven't
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they, mitch? >> no, question about it. i'm curious object -- about jon's reaction -- maria: tech. >> and energy and is that a leading indicater that we are not seeing consumer? >> that's one of the reasons why i bring up starbucks, it's another reason why we have to be watching under armour, as i mentioned a moment ago, we did not see great economic growth in the first quarter, so, you know, we are seeing tech companies plowing ahead but i think it's too soon to say that the economy is on very strong footing right now. we have -- we have an economy that's still kind of petering along at 2% growth rate and that's where maria was talking about policy. we have questions about the
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regulatory reform in washington, the efforts to get tax policy changes, that can speed up the economy. we are not seeing it yet. maria: dagen, we are looking at the first quarter gdp under 1% in. dagen: right, people's feelings about the economy it actually worsen a little bit from the last poll that fox news did. you really need to keep expectations elevated not just for businesses but for individuals. maria: real quick, jon, before you go -- jon: the gdp number comes out tomorrow and i will be watching very closely, could be as low as half a percent. maria: what's the most important thing we need to be listening from the ecb, we will get the news in an hour? jon: they have a french elections coming up in a couple of weeks, they want to get past that. maybe later in the year they start talking about tapering bond purchases.
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but the news out of ecb is no news. maria: coming up next the threat of north korea, summoned 100 senators amid concerns, rising tensions that impacted markets yesterday. amazon wants to improve fashion sense now. a new device helping shoppers look ready for the runway, back in a minute ♪ predictable. the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. gave us the power to turn this
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maria: welcome back, good thursday morning. i'm maria bartiromo, it is thursday april 27th, your top stories right now. 6:30 a.m. on the east coast. our nation's leadership briefed on the dire situation with north korea. white house outlining strategy to deal with the hermit kingdom with a meeting with entire senate yesterday. >> the president made clear that the north korea armed with missile, a capability yet to test is unacceptable to us. >> this is certainly an unsettling situation and one where we all should take it very seriously. maria: we will hear from one of the senators in that meeting coming up next and talk what is ahead. big day for earnings on wall street. broader market looks like this. futures indicating a gain at
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opening of trading. nasdaq, s&p 500 also rising this morning. in europe markets are edging lower, take a look. we are waiting on ecb, european central bank decision, coming in the next hour no policy changes expected, investors will look for any sign that the ecb will end its bond-buying program. the markets are down ahead of that. in asia overnight, markets are mostly higher. trouble looming for the housing market. why growing demand could be pushing home prices to unsustainable level, plus hailing, a betails as uber and mcdonalds team up to satisfy your hunger and look at you how amazon's new echo is playing fashion police, we w you amazon's device that will help you dress. first rising tensions with north korea. kim jong un's regime vowing this morning to continue nuclear tests following yesterday's unprecedented senate briefing at the white house.
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the trump administration outlined its strategy which, quote, aims to pressure north korea into dismantling its nuclear ballistic missile and proliferation programs by pursuing diplomatic measures with allies and regional partners, end quote. the approach with bipartisan support. joining us right now colorado senator and chairman of the east asia subcommittee on senate foreign relations corey gardner. >> good morning, thanks for having me. maria: can you tell us about the meeting, what was your big take away? >> the provocative action that is kim jong un has taken has led to the most unstable conditions on the korean peninsula back in early 1950's, what we have to do with the united states join with south korea, japan, allies, strength the relationship and push back against this madman and pyongyang. maria: it's interesting that the president invited all senators,
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was that a surprise? >> highlight the importance that all 100 senators, democrats and republicans come in for unprecedented-style of briefing. so i think it's important, shows that the need for us to come together and if you're kim jong un, certainly you're wondering what's going to happen next. maria: it's interesting that you say all senators came. bernie sanders was the sole hold-out. he said, quote, i did not want to be part of a road show for the white house. what are your thoughts on that? >> too bad that people would put partisan politics into a very serious national security threat. i don't question that bernie sanders had many other important things to do but i would think the security of homeland, security of allies is at the top of anybody's list to make sure we are attending important briefings. maria: it boggles the mind why he wouldn't show up to an important meeting. let me ask you about iran, he
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wants the u.s. to fear iran so it will back off the sanctions and earlier this week, iranian boat forced u.s. destroyer to fire flare. this, of course, comes after a political article revealed that some of the iranians released were accused of posing a national security threat by obama's own justice department. senator, do you agree with your colleagues in the house, does this need an investigation. >> well, i think there should be continued investigations of iranian intent to comply with iranian nuclear deal. what we face right now is a situation where iran has abused the intent and spirit of the agreement. they have taken the billions of dollars that they have received from the lifting of sanctions. they haven't built playgrounds with this money as they have multiployed efforts with defense
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and strategies to spread state sponsored terrorism around the globe and the design was never to comply with the deal, it was to continue to spread the radical ideology. maria: people are just wondering what this all means because things seem to have gotten more dangerous, you have north korea with all of the provocations, you got iran also with its own provocations, what should we expect from the trump administration, what do you want to see in the senate in terms of responses to all of this? >> well, just take north korea, for example, they had two major dates over the past week, celebration of kim sung's birthday. a lot of people expected a big show from north korea. that didn't occur. is that because the u.s. vinson is in the region?
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and so i do think that this administration, this diplomatic oversight and continued pressure and building of that alliance and allegiance with allies is having some effect. we are a long ways from it as it relates to north korea, we need a policy of secondary sanctions to make sure individuals, companies or entities who are violating the spirit of sanctions are held accountable. the more we do that, the more it sends a miami the the united states isn't going to lead from behind. we are going to show our values. maria: so you think sanctions work then? >> i absolutely do. if you look at a piece recently in the news by a former obama administration official, he talked about the fact that north korea is far from being sanctioned out. the sanctions what brought iran to the table in the first place. unfortunately they got a great deal for them and bad deal for us, but if we continue to force sanctions on north korea, sanction on those partners who are helping them proliferate we
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can help in accomplishing our goal. maria: senator, let me shift gears, republicans still at work on a plan to repeal and replace obamacare, now the house freedom caucus came out yesterday and said that they're in support of the revised version of the gop health care bill, i'm assuming we will see something then on the house floor within a week, do you think the senate has the votes to pass the legislation if it makes it through the house? >> well, i think the senate has the votes to pass repeal and replace bill that actually gets to the point of reducing costs, making sure that we overturn some of the bad elements of the affordable care act that led to a decorruption of the individual market and lack of competition in the marketplace, whether it's exactly what the house bill is, i haven't seen the details of it yet but i think there's bipartisan support to undo the bad effects of the affordable care act. maria: you have to come to an agreement, you have to get something done by the end of the year when it comes to health care and taxes in. >> i think it's very important.
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i look at the western slope of colorado, highest premiums in the nation. bad policy to allow bad effects of policy to linger. we have to make sure that we have a good policy in place and i look forward getting that done before the next year. maria: real quick, senator, the president outlined tax cut plan. 15% corporate tax rate is never going to happen once it gets through house ways and means and the senate finance committee and you say? >> this is a great starting point for us to have a conversation about backing government off the backs of the american people, revitalizing our economy and finally returning growth to our nation's economy. maria: 15% is a starting point. you would rather 20%?
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>> look, i'm not going to say we are going to have 20%, if we do it 15%, that would be great for the american economy. let's do what's right for american people and that again is something this country hasn't seen. maria: you're right. >> abysmal production rate, gdp, we are going to see numbers this week that are going to be disappointing and in the tank. maria: yeah. >> we can do better than that as a country and i think tax reform is one of the best ways to spur that economic growth and if it's 15%, if it's 20%, the fact is we know backing off the heavy burden of government tax wills allow american businesses and families to invest the way they see fit and that's good for all of us. maria: growth seems to be the priority of this white house. senator, good to see you. >> good to see you. maria: senator corey gardner. beef patties at your doorsteps, mcdonalds expanding delivery service with uber. stay fashion forward with
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maria: welcome back, check out markets right now. dow industrials s&p and nasdaq continuing the rise. up 12 points in the dow. a couple of names watching, microsoft among the major technology names reporting after the bell tonight and expecting earnings of 70 cents of share at microsoft. investors will be eyeing growth in the company's cloud-computing business. rough week for go gopro.
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there's another incident of violence streamlived on facebook to report. cheryl casone. cheryl: alabama man livestreamed suicide on facebook. series of violent crimes including the murder in cleveland which is a video you're looking at here, that ended with the suicide of this man when he was cornered by police. in the latest incident in alabama, james jeffrey shot himself in the head tuesday during the facebook live video, horrified viewers reported the suicide to 911. the sheriff's office says the ex-girlfriend contacted them because he might hurt himself. the fast-food gaibt has been testing delivery with uber eats, the mobile app in florida is looking to launch services in several ends by the end of june.
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the company solely ramp up expansion and increase marketing as they get more experience under their belt. we should say 70% of mcdonalds customers are using drive-through. seems like a good home run for mcdonalds. hsn ceo mindy leaving the company to become president and ceo of weight watchers. 59-year-old has been hsn since 2008. well, amazon's echo is gearing up for a whole new look literally, watch this. alexa, take a photo. cheryl: in addition to reading the news, turning on your
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sprinklers outside, soon you will get opinion on your outfit, share and compare their styles using photos, technology and better selfie out of it, frankly. device comes with a style-check feature that combines algorithms with tips of stylists and you could get expert advise on how to look your best. the stock up more than 46% over the past year. there you go. there's the stock. maria: but i don't understand how this would work in terms of alexa, yo is going to judge whether you look good or you like the outfit? how i do know that person has the right idea? >> algorithm. maria: a robot is telling me that i like my outfit. dagen: a photo with your friends
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. >> in addition to listening to everything that you're doing in your house they are watching. maria: and judging you. >> i could need help in tie selection this morning. >> in the darkroom that probably touched your eye. dagen: you're getting dressed and nobody is up. maria: now you alexa. coming up too hot to handle, rising house prices and what it means to the selling season, coming up why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension,
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as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis.
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maria: tax reform apparently not the only priority of treasury secretary steven mnuchin, he reaffirmed commitment to changing the housing finance system yesterday. watch. >> housing reform is a priority of mine. the existing system of having the treasury have a gigantic line to fannie and freddie and operating of these the way they are, we are determined to change that and not have that continue for the next four years. maria: mitch rochelle this morning from twc, he said he we wanted to privatize these companies, what does that look like and what would be the changes? >> a massive public offering of one that we have never seen before but makes seems capital playing a role in the way housing finance works and hasn't been the case and the government has tried to use agencies to stimulate housing markets and
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haven't done nothing to stimulate housing market and maybe private capital would apply different set of standards and underwriting principles that would be robust to the housing market. maria: right now entities create the majority of mortgages in the country? 80%. >> most residential mortgages some way flow through fannie and freddie, correct. >> we have an opportunity to fix this now while interest rates are low so private capital wants somewhere to go. it would be a really good way to ease the government out of the thing that they shouldn't be anyway without causing a big disruption or we will have another crash or get out in the wrong time. dagen: requires the government and bureaucrats giving up control of the housing market and they like that power quite frankly. >> they haven't effectively done it through agencies ironically. there's other forms of policy that they've use today stimulate the housing market. think about those agencies prior
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to financial crisis. they tried to run like, you know, private enterprise, the fact of the matter is they. >> overregulated. >> how is housing doing right now? there's feeling trouble is looming, strong new construction from demand of buyers could be pushing prices higher at a rate that's not sustainable? maria: at some parts it's out of reach. >> to me that's not a bubble. you compare it to the bubble ten years ago, t stupidity, inflating a bubble, overwriting standards and now people who can afford to buy home can't buy a home because it's too expensive. to me it's a totally different dynamic and i waive off, i will leave a hat -- >> i will join you.
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now, there's an undersupply. that's not bubble territory. dagen: prices eventually people will get so priced out of these markets that eventually prices have to start going down in order for people to buy them so that would burst -- >> right. that happens gradually and in a free market environment. there was nothing free in a market that 14 to 15 months of supply of housing for a market ten years ago versus the less than four month's supply we have today. if you have such a low-level of supply, the market has to behave more efficiently. maria: what about the issue that dagen brought up earlier this week and that's the deal on soft wood lumber and the tariffs on canadian lumber, how is that going to effect? >> that's a big issue. as a matter of fact, i gave executive producer a chart. so that's the biggest material
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cost in building homes, lumber costs have been going up. dagen: wage, labor costs have hurt the home builder. the wall street journal called it a tax. maria: it sure it is. >> at the worst possible time when prices are high. maria: it sounds like new home prices are going down any time soon, they are going to go up. >> they will continue to go up or i will leave my hat. maria: underarm our reported better than expected numbers, we will have those next and battling opioid crisis in america. we will talk about it next before humans can see them. because safety is never being satisfied. and always working to be better.
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maria: walk aback good thursday morning everyone. it's thursday, april 27. your top stories right now. under armor armour needs just hurting the tape. the company also reiterated its full-year guidance. ford it just hurt -- hit the wires. but stuck is also better than 1% right now. the proposal includes a significantly cutting individual and corporate tax rates. but national economic council said there is still work to be got -- to be done.
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this isn't going to be easy. we will be attacked from the left and we will be attacked from the right but one thing is certain i would never ever bet against president. he will get this done for the american people. also a shift in trade policy. present trump dropping the threat of completely pulling out of the north american trade agreement. the futures are pointing to a gain in the opening trade. is all excited and also positive in the open. we are waiting on the ecb. the decision an announcement comes later this hour. no policy changes expected out of the ecb. investors will be looking for any signs that they may soon end the bond buying program.
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it is down just a fraction. plus new threats against the trump organization. two fires were discovered at the trump hotel in las vegas. we have the latest coming up. the sport giant is now offering its own dirty close. a major payday for the stars. all of the stories coming up. i have teenage boys we have her own dirty clothes we don't need to buy them. taking a shot at yesterday's news. the story of the moment is obviously the tax and the policy but it's also an
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earnings season that is pretty good. markets are reacting to a flurry of quarterly numbers right now. we've under armour better than expected. what you make of these numbers. you go to any grammar school or high school around the country you'll see tons of people there. i'm happy to see. did they actually make any money though they're expected to have their first loss in years and years i would like to see that number if possible. it was too popular. it was too pricey. and historically expensive stock. and they were on a slow road higher. their people are just assuming peak auto has arrived. there are little head of themselves.
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liberally high margins i think ford and gm they were expecting them to lose 4 cents a share. and also if you look at the trump administration and the idea to rollback fuel standards that benefits them big time. they weren't performing will this quarter. it's interesting to see the reversal there. talking housing there. there is a possibility there's been a lot of a subprime financing. subprime financing. in that area. and also the length of the loans and the leases tried to keep getting people into these cars.
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comcast was also reporting better than earnings. good quarter so far. then there is the tax story. overhaul taxes. the admission is calling the biggest individual and business tax cut in american history. the proposal cut the corporate tax. it will switch from worldwide taxation system to a territorial system. it will also illuminate tax breaks for special interest. they spoke about the impact this would have on business. they spoke yesterday. on the business side when president reagan left office in 1988 the corporate tax rate was 34 percent. it hasn't changed much since. for the last 25 years other countries have been aggressively cutting the tax rates and moving to a territorial system in order to
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attract business. on the u.s. has done none of that. the president is determined to unleash economic growth -- growth for businesses. small and medium-size businesses will be eligible for the business rate as well. see mecca joining us right now. the have of small business. it is good to see you. thank you so much for joining us. give reaction to this tax plan and what the impact would be on small business. see mac anytime you can cut tax rates and go from 36% to 15% which is proposed the plan is a good thing for small business. another thing that keep the economy moving. over the last eight or ten years small business has been city and capital. they've been they been worried about the regulatory burden.
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why haven't we seen more activity out of the small business segment. there is optimism. we just released today are small business owner report and what we did find their outlook was at an all-time high over the past five years. his optimism was out there and we are seen investment and expansion of small businesses in our economy. this is an exclusive report out. 50% of owners and say they're competent. that is an increase of 21 percentage points. were you surprised by the results that you heard from this report. when i visit with clients across the country you do see the optimism. and you hear about expansion and hiring and growth. especially in the local economy. we do see it on a national scale as well. but in the local economies business owners in general or
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more optimistic. healthcare concerns had really been an issue for small business. they are remain a remaining a top economic concern for small business owners. what do they want to see. in terms of healthcare. he continues to be the number one concern i think that we have to simplify the process and make it easier to your point the less that we regulate. the more we can invest in small business. tony was on with this earlier. he basically said this tax plan tells you if you want to start a business do it if you want to hire more workers do it. do you think it coming out of washington will be a catalyst for just that. it certainly will be a catalyst for growth. we don't know exactly just yesterday that it was
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announced. still has to get through a lot of layers. but as outlined it does any time anytime you can cut the corporate tax rate and be able to invest in hiring or expansion of the business that is gonna get the economy going. your report is predicting the future of a small business. automated operations. tells about the innovation are these good for small business or does it actually hurt business because it is a lot of retraining here. when you look ahead five or ten years. were already doing business much differently than before. use see online retailers we see online retailers. doing better. i can't remember a time when you can order something online and it comes that same day.
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it's only going to continue to get better. everybody is worried about dysfunction. we are online, digital or mobile applications. we see more and more people. everyone carries a phone. you can literally had the bank in the palm of your hand. this is not the case five or ten years ago. we've certainly progressed. is cost-effective however i think as a consumer i want the convenience. i want to be able to do what i want when i want. i can do it all.
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when we start celebrating really the month of may. wiese focus on small businesses. as just a month to really highlight and how they help hire and get our economy going. with 30 million of them throughout the united states. there are a lot of small businesses out there and they mean a lot to our economy. the neck really important for the economic growth. one suspect has been arrested for setting fire and trump international hotel in las vegas. the investigation into the incident next. back in a moment.
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[music] give me everything tonight.
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welcome back. a grim violence.
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cheryl casone with the details now. number of gunshot victims passed in the 1,000 mark for 2017. this is about the same number the city record at this time 2016. after two people were killed and five others wounded in just one hour earlier this week in that city. nearly nine people have been shot a day on average according to the chicago sun-times. police arrested a man who set several fires at trump international hotel in las vegas. one fire was found in a woman's bathroom. one hotel security guard was injured in all of this. instagram growing big time. it has doubled its base in two
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years. in a has 700 million active users. a big milestone for the company. it went from 500 million to 600 million. great for instagram. to cope with the company growth to a number of things. if your world war ii fan. the new call of duty game might be just for you. they're going back in time. they include the beaches of normandy and fighting through hedge rows. since 2007 and has focused on modern and post- modern battlefield. return to the roots of call of duty. i feel a lot of commercials
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now on regular tv. we have slightly calmer video games in our house. i think i like that little bit better. i tried to dial back the video games so actually interact with human beings. it's day by day. freedom of speech under attack at uc book berkeley once again. from one of the most iconic family shows of all types. opens up about her journey from little house on the. to. to the foxbusiness network. back in a minute.
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maria: uc berkeley the birthplace of free speech now denying that sentimental right to in culture. threats of violence losing the support. she addressed the department's last night on hannity on fox news. i think what's going on with berkeley it shows how radical that they are university --dash make universally. all of the people who should've been missing in it for the first amendment here all ran away with their tails between their legs.
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the author of the new book lessons from the prairie. melissa's joins us here. >> you guys get up early. does everybody know that you are one of the stars on little house on the prairie. they used to dye my hair brown. there you go. i grip on the grew up on the perry. it was a lot of fun. in the new book. what you learned about being an actor. >> more than anything else michael was to make you laugh. i make fun of myself for a few
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hundred pages. then when you get to reading about all of the pies i've taken to the face in my lifetime you realize there's some good lessons under there. one of them and one of the most interesting lessons i learned was michael was one of the first people in hollywood to really figure out the business of hollywood. he was the first one there in the morning. the last one to leave at night. he have an incredible work effort. none of the kids ended up robbing a dry drycleaner going to rehab. when the cameras went on we were really there for business. he also taught us the value into the pride in the days of work producing something the people loved and being part of a team. and coming to work ready to go. i used to be able to get out there and get it done right away. he was about saving money.
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he have a small dressing room and we have no frills. i learned about economy, and learned about effort and pride and work ethic. i realize now i went on and i studied economics at harvard. i worked in the kitchen in order to pay for my unturned internship in this business. i have so much respect for maria. i said that's i want to be. you are really my inspiration to get into business news. i've obviously followed her everywhere. in my mind have it all. for me as a woman i love having the glamour then you have the brains into the strength behind it.
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you are the one. i appreciate you saying that. and just not is not a diva. our these the lessons that had driven us all. you've spoken in the past about your small business your file business. and that really is what has enabled us to recognize that everything is very fragile. don't take it too seriously and don't take it for granted. i want to just quickly say because you walk the talk. he wrote this book but the first time i ever met melissa's when is when you are working for that other network it was down at the nymex.
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all this although some people at other networks treat rivals. melissa was so generous and kind. that sticks with you. i will never forget that. there is a chapter about not being the nelly. all that does is make you miserable. you think you're cutting down the competition but you're just making your own life miserable. i saying here. are you a laura where your not perfect overall you are trying for the common good or are you a nelly. you are only making yourself miserable. he understood for a group to
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work while you have to like each other and enjoy being them. it makes it for good at product overall. it also happens to be the right thing to do but besides that double your own worst enemy. all of those themes are in here. i make you laugh along the way i hope. i have a great time writing this. i hope people out there love it. and thank you for your leadership. lessons from the prairie. if you're in the orlando area tomorrow. she will be there. we appreciate you so much.
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president trump is tweeting right now. i received calls from the president of mexico and the premise of canada asking to renegotiate nafta rather than terminate it. if we do not reach a fair deal for all we will then terminate nafta. relationships are good. deals are very possible. president trump basically talked about doing a new and has changed his mind on that. you go really far and you kind of move to the center and walk away from a deal if you really want to negotiate it. i judge people beyond their looks. he tries it stick it to the president about the whole immigration story.
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anyway there you go. a tweaking of nafta not a review. the new implants that could help a fight the growing crisis in the united states that is next. this is how reebok is now working -- poking fun. you totaled your brand new car. nobody's hurt, but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance. whoa,i just had to push one button to join.
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maria: welcome back. happy thursday everyone. it is thursday april 27. your top stories right now 7:30 a.m. on the east coast. pharmaceutical companies are taking on the challenge. the problem is just one of those facing our healthcare system today. a system that republicans are working to change. the administration is feeling pretty positive and were hopeful that there may be a vote soon. we don't want to put an artificial deadline on this. we learn that a few weeks ago. we as want to keep getting the sink in a better place. i can tell you that we will perform this. it's a matter of days not months. more on health care reform coming up. a massive day for earnings on wall street. ford motor, under armour in less expectations.
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up at 9% in the premarket. that is good to be a big deal this morning. futures pointed to a higher opening for the broader average this morning. we are near the highs of the morning right now. nasdaq up 12 and a half. that's a quarter and% higher. they are edging lower. the european central bank. no policy change is expected from the ecb is the french election looms. investors are looking for any signs from that president that they will end their bond buying program soon. mark's are mostly higher. take a look at the averages there. they're all up fractionally. simpson is set to release its refurbished galaxy note seven phone in june. we will discuss. nasa has pushed it to infinity and beyond. still struggling to develop new suits.
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what it means for the space race coming up. reebok is trolling the company over its new dirty jeans. we will tell you about it. then from the iron turn to the golden paycheck. the massive arrays that the stars of the game of thrones are seen. that is the opioid crisis in america. more than 33,000 americans. just in 2013. according to new data for the center for disease control and prevention. the implant to address the challenges. she is ceo. characterize the opioid crisis
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for as a tell us about the implant and how it works. the crisis as you say is taking the lives of 33,000 americans each year. there is an epidemic. so we can help make a dent in the time the implant is our first product with approved by the fbi -- fda last year. and last for six months delivering it at a teddy blood level for the entire time so that the patient doesn't have that. they don't have to see that. really feel like they have gotten focused on the rest of the life. what exactly is this medicine that this produces. it contains those. in the opioid addiction
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treatment. we had three medicines i had been proven over and over. medication is as part of an overall treatment in treating opioid addictions. we have a whole pipeline of innovations coming. also for the addictions so that we can treat patients from the day they start treatment to when they're much more stable. what is the alternative if you are not doing this then you're taking pills regularly and it's up to the patient to decide whether or not they want that. give to take the choice every sigel day whether you are taking a medicine or not and because this is such an unforgiving disease one mistake can kill you. one day when they don't take their pet medicine for a couple days and then they go out that could be the overdose that unfortunately ends their
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life. and on the insurance companies and medicare covering it. the people who are the brought leaders they completely understand the data and the value that treating it brings. to them. for every dollar they spend they can the can get seven to $12 back. not everybody does it. everyone in the insurance industry to get behind making sure that patients had access to the most innovative medicines available so we can try to make a dent in this epidemic. what are your prescriptions for fixing healthcare problems in this country.
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i think we have to make sure however we administer from the federalist federal standpoint that essential benefits like mental health and opioid or abuse problems in general which are currently essential benefits are maintained. we don't treat these kinds of problems at the beginning if we don't treat them. the cost of society when someone who has it ends up getting hiv or hepatitis c are far greater. we are better off making sure that patients had access to the most innovative products and that is what we are working towards bringing as many of these patients as quickly as possible. do you need have a broader conversation with doctors to try to not had so much prescriptions .
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that is certainly part of the conversation. if we want two-point a finger the disease is really what we have to try to battle to take care of the two and half million patients who are afflicted with the disease of opioid addiction today. and of course in the future there are different strategies how to deal with stress. so that they will not fall into that. as a senior executive. do you feel like you've a voice in talking to the administration into congress about the repeal in her place there.
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certainly some of the advisors have reached out. i was on a panel with krista christie last year. i know his office is very interested in figuring out how as part of the overall health care plan we can meet tackling the problem of opioid addiction. >> i'm still curious how much more the implant cost versus six-month supply of that medicine. >> and while the price per day is higher what we've done in terms of making sure that everyone understands the benefit in the analysis on what will happen if you take the clinical data and pairs are seen that by reducing the
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number of overdoses in the number of cases of accidental exposure to children you can actually reduce the overall cost. they look at value rather than a price for a single day. we also of course have compare assistant programs. really important work that you are doing. thank you so much for telling us about it. we're breaking as we want to get to right now. president trump just tweeted on healthcare. the democrats want to build them out. no. seems some giving its exploding note seven device. and then a 200 million-dollar
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samsung coming out with its refurbished galaxy note seven device at the end of june. a real bargain as long as it doesn't explode on you. the refurbished model are about $250 cheaper than the original price. the original galaxy note seven was launched last august but they have to recall it because of exploding batteries and fires. the recycled note seven will be available from three carriers that starts in june but sampson said refurbished models well not be available in the united states. at all. the nasa audit finds that the new spacesuit is years from being ready for deep space despite that $200 million has been spent over the last year
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to design it. they had set to be retired. google becoming one of the first board companies to launch service there. they open a new data center. they have a go through cable through venezuela. it made the wi-fi very slow in the nation.ey're not even allowo have access into the internet into their homes. and finally this. some of the stars of game of thrones are going to be making record breaking the law. according to the uk.
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they will make an unbelievable two-point $6 million per episode. people love the show. i haven't even seen it. it will make them the highest paid tv stars ever in history. it has increased the budget for the final two seasons from 6 million to $10 million. that is per episode. i hope someone on the panel watches that show. i am about two seasons behind. they're earning their keep. remember when it was mind boggling. because of the reruns and the amount of money that they make
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on reruns game of thrones well not had it upside long-term because of the salacious content. it's a lot. i longed for the remote. there's no foreplay here. as just bim. the guy next to you is like what the heck are they watching. would you pay more than $4 for more than a shirt that's never been watched. the sweaty shirt is going viral online. back in a minute with that.
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n, stop taking cialis and get medical help right away. ask your doctor about cialis.
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switch and you could save $509 on auto insurance. call for a free quote today. liberty stands with you™. liberty mutual insurance. in a way that 200017 nfl season kicks off tonight. >> the first nfl draft was held in philadelphia 81 years ago. ninety names of college seniors were written in the blackboard for teams to choose from. there was no media coverage and in all took place indoors. it kicks off this evening in
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philadelphia on the steps. there will be 22 players expected on hand to be drafted in the first round. all in the famous rocky balboa statue. if we are talking about school it's time to put on our seventh grade bathroom humor hats. a tight end named but. the former michigan wolverines. many of them. they been spending the week in italy. they were in st. peter's square the head coach got to
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meet -- meet the pope after. and also a pair of nike air jordan sneakers. these are for the arch bishop. they get air jordans. you have to believe that mister butt was being made fun of his whole life. the order different jerseys. it's a very good point. so how about this new fashion trend out there. now reebok decides to have some fun on it. they are adding a fake authentic stretch shirt
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yesterday. and how much is itself or. no one can actually buy the shirt. it's a big joke. they have different sites or apps that you can go on and so some shirt that you head from six years ago and someone will pay serious money. i think this is just making fun of that. do people, how many bands are you into. i recently found a shirt. i have the same thing that looks even worse. want to give me hundred bucks. i want those but jerseys to go
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viral. i get it. that's what i was thinking. they could use all of that. italy is not half bad. i'm still stuck in seventh grade bathroom humor. thank you jared. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage.
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maria: welcome back to thursday morning everybody. it is thursday april 27. your top stories right now. 8:00 a.m. on the east coast. a massive tax cut plan and businesses and individuals are going to see lower taxes. the public and leaders had waited on getting a deal through congress. we are in a historic moment and republicans and democrats want to create jobs and want to help the american people and as i said the core principles of this we have agreement on and we will work
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towards. a shift in trade policy. dropping the threat of completely pulling out of the north american free-trade agreement. they tweeted this morning that deal must be fair for everyone. the details coming up this morning. earnings setting the tone on wall street. they are also we are watching earnings on the impact. under armour up almost more than 9%. they take a look at futures. we are expecting another game. twenty-nine points in the nasdaq up 11 points. it's all about the european central bank. we do have the news. they kept rates unchanged.
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that is where investors will be focused on what they said. in asia over night they're mostly higher. take a look. fractional moves across the board in there. a state trooper was killed yesterday at a gasoline station the suspect is now barricaded in his home he is armed. protesters erupted in paris has closed filling the streets demonstrated against both presidential candidates. now there is a robot for that. we have we've a look at the self driving a lot more later this hour. we until you see this. the self driving cars now self driving lawnmowers.
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i want to see that lawnmower. i'm very interested. were talking to a busy session for the trump administration. you call it a white paper earlier. i think it will be great if you get that 15% rate for all corporations for job creation for business spending. and i know that doesn't hit individuals pocketbooks but broadly speaking this is progrowth. if three brackets. 15% and 25 percent. and taking out all of those deductions. it also simplifies the whole process than raising the standard deductions. it is going to be good for
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business. i think that is key from a political standpoint. you will find agreement on the corporate rate pretty quickly as long as everyone is able to compromise. i think you can settle on the 20 and 22. personal as a third rail. from the state tax deductibility to 70 other issues that is going to be very hard. it's only 9.2% of the gdp last year. it's not a huge deal either way. i think they can live with that. that's when he campaigned on and that's what he talked about yesterday. with all of the details on the signification of it as well. they are something that a lot of people are cheering but the big headline this morning they has to do with nafta because
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the president has been very busy. fox actually concern -- confirmed that he had been have been written for the united states to possibly exit the agreement with canada and with mexico. it requires some sort of notification. the president spoke lesson on the phone with the president of mexico as well as the a prime minister from canada and the agreed to renegotiate. here is what the president tweeted this morning. i received calls from the president of mexico and the prime minister of canada asking to renegotiate nafta rather than terminate. i agreed. the president went on to tweet that subject to the fact if we do not reach a fair deal for all we will than then terminate nafta. relationships are a good deal very possible. that is only one issue that the white house is dealingwith . as they move the economy
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forward. the other of course is tax reform. as you said one of the big historic moments was the three new tax brackets. in 35 percent at the high end. the details however those still have to be ironed out with republicans on capitol hill and gary said they will do that. >> we will be back to a very firm details. were very competent to where there can be. we just want to get out and give you a broad brush overview of where we are. the president very president very much believes and taking input over the next month. with a lot of different discussions going they been working on this since day one of the menstruation. they are steering this ship but they're also looking for partnership with kevin brady chairman of the house ways and means committee. the leadership on the hell put out a statement yesterday praising you might say the broad principles of the tax reform but it was almost like
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when a southerner tells you bless your heart or thanks for sharing. not exactly a compliment. thank you so much. adam shapiro is at the white house this morning. publicans are still working on a plan to repeal and replace obama care. the caucus came out yesterday though. when asked if the healthcare vote is likely tomorrow mark meadows said this. i think it's realistic but i think it's an expectation that i don't want to put out there. we have with so many times that we put a date that corresponds with something and then the american people are disappointed. they would rather and get it right and make sure that happens so whether it's this friday or next week or the week after that. i can tell you that real reform is coming. it's a matter of days not months.
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congresswoman it's good to see you. thank you so much for joining us. i want to talk about the legislation that you are introducing today about reining in discretionary spending. let me get your take on where you are right now is a membership on healthcare. those important member to member discussions continue our goal is to get the vote to move forward on a repeal in repeal and replace of obama care. we believe it's very important to every person in this country has a better healthcare feature. when we have the votes we plan to take that vote. do you think it will happen within weeks. it's can happen. but people aren't so short because we saw that the first bill was pulled. how close would you say that we are. the discussions continue. we have to hear from our members they just saw it on the macarthur amendment.
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they are reviewing that. we're having conversations and the members need to talk to one another but i believe that we are moving in the right direction. we hope that there will be some solid plans soon. yesterday you introduce the unauthorized accountability attack. it rains in any spending on government programs that has not been reauthorized by the people's representatives. why did you decide to read deuce this this week. anybody that cares about accountability should care about unauthorized spending. were talking about hundreds of programs and agencies and billions of dollars. and right now we are in the process of trying to get the vote to keep the government funded. the unauthorized spend it needs to be addressed in this country. it is part of that solution i am encouraged with the support that i'm getting the freedom
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caucus members as well as other members of the conference that recognize that this needs to be addressed. it seems like that is always the topic du jour because of the debt and the deficits. and all of these grand plans that you and your colleagues had as well as white house. we don't know how much let's get a cost. we got the plan yesterday that the present would like to see. her health care. what are the most important levers to pull when looking at what to stop spending on. once the oversight function. that's what the u.s. a x requires. i believe it's a process. and we do our jobs that it's going to result in more efficiency.
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it's been status quo. these agencies need to be updated. when it comes to accountability and transparency. let me get your take on this tax plan. it's very hard to see with the cost of it is. what was your take when you first heard the details of the white house and plan on tax reform. >> i am most excited that we are moving forward with tax reform. that the menstruation has put forward a proposal because i believe it is one of the best things we can do to get our economy growing to create jobs.
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that needs to be our top priority. we need a tax reform. whether you're an individual a small business or a larger corporation. the tax code has been too complicated. i'm excited. this is really once of once in a generation opportunity for us. bringing down those rates and closing loopholes but ultimately getting ever economy growing. as someone who is so focused on oversight how do you pay for the tax plan are there areas that you would like to see deficit neutral situations do want to see a revenue rate somewhere within trade. or do you want to see the border adjustment tax and the tax plan. as can be part of the process of moving forward with tax reform. i believe if we can get to a neutral tax plan that what
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that means is that provides a certainty that people are going to need beyond that ten year window. that would be my goal because if you're a small business person that wants to expand and invest. that's why having a neutral tax plan is so important. and so all of those discussions are going to be a part of pulling this together. what happens now. i know the plan has to go get marked up. what goes through the steps that happened now that we have this white paper from the president? >> there has been years of work in the house republicans have long been advocating for tax reform and the ways and means committee has for years been working on our tax code and the various assets. they had been going to work. the goal is for them to be
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having hearings and more hearings. doing the markup. market. but bringing forward a proposal that the house could go on when the the next few months. see mccarty accepting a fight over the way we saw the healthcare. i can't agree to eliminate it for example the state income tax deduction what you say. >> that as is the difficulty of tax reform. but doing the big things are never easy. but there is a lot of us that are excited about taking it on. we believe it must happened. it's good to have you on the program this morning. thank you so much. kathy mcmorris rodgers there. clashing with police over the highly contested election there. big gains for under armour after better than expected first quarter. we will break down those numbers. back in a moment.
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he won a state trooper in delaware has died after being shot yesterday outside of a convenience store. one of the alleged gunman involved in the see enough this enough with police right now. that's enough continuing at this hour. officials were using explosives to breach multiple entry points. as of right now they have not gone inside of the home. 32-year-old approach the
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subspecialists vehicle yesterday around noon eastern time. a struggle ensued and attribute was shot multiple times. he believed to be barricaded in his home right now. police tracked the gunmen who fled to his home about 50 miles from the shooting on the second suspect arrested at the scene. in overseas news. more election news coming out of france. watch this. these are high school students taking to the students up -- to the streets of paris the students criticizing far right candidate the national campaign but they are also criticizing the pro- business campaign. earnings importing it this morning from some big
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corporate names. the stock is rallying in the premarket after the automaker adjusted it. beating expectations for 2017. in the premarket right now let's take a look at bristol myers. the stock is up more than 3% on the premarket. growth from two of the cancer drugs are helping to boost those numbers for the quarter. and taking a look at under armour. the stock is soaring as you can see. they are posting the first ever quarterly loss but the results were not as bad as those had expected. up almost 7%. a lot of numbers to watch when the markets open. coming up president trump turns his pen on the office of veterans affairs.
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it could lead to a battle over the budget. a proposal could face a fight in congress. will talk about it in the cost back in a minute.
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veterans health healthcare was a big focus for that than candidate. now on the eve of his first 100 days in office president trump present trumbull signed an executive order which create the new office and say that veterans affairs department. they have an under pressure since at least 2014 when news broke that veterans died waiting for appointments. joining us now to weigh in as the former navy pilot herself. thank you so much for joining us.
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i think in theory it's a very good idea. it's an executive order but what i'm hearing from the community is that be backed up legislation executive orders are great but ultimately did menstruation need to be working with congress because the bottom line is within the government when people have employees that are bad you can't get rid of them. that's it's the way the system is set up. they have a merit system protection organization it's basically call it. if you tried to try to fire someone who works for the va they could go and appeal the government accountability office put out a report talk and how that can take six months to a year to get rid of an employee that is bad. ultimately what needs to happen is legislation to happen so that the government can get rid of employees that are bad. i think that creating another office. there is the inspector
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general's office. the general counsel. there are already systems in place and the bottom line is is this can have another office. or will it do the job of going in. i think the idea is kind of like a business. you bring people in. you figure out the problems and you try to slice and dice and cut it down. is this just another executive order that you don't want to do anything. the trumpet menstruation is trying to bring a lot of private solutions as their private sector solution. it comes back to what i was saying before about how the civil servants are protected by law i think that since it is a government program at as a second-largest government organization sure there are private-sector solutions but you still need congress to
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support being able to cut down this huge bureaucracy and get rid of leaders within a who are bad. >> let me get your take on these new fox news polls. news polls. the present gets his highest approval rating when he is fighting terrorism. that seems on track with what were seen and what is focus has been. if you look at the website that the white house is putting out. it basically trying to establish what the president has succeeded on in his first 100 days one of the focuses is on security. trying to hold sanctuary cities accountable decisive action in syria. imposing sanctions on iran. besieged military strength. he gave us speech about that. this is something that has been a focus of this administration i don't find it surprising at all. this is where a lot of the approval ratings are.
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i think at this point veterans and people in the military want to see action on that. and that means talk to congress. make it work. great insights for you. the white house has released its plan to cut taxes. not everyone flees. we will add up numbers next. we are testing out honda's new self driving lon meyer. if you have afib not caused by a heart valve problem, and you're taking warfarin, you have the choice of a different kind of blood thinner.
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>> welcome back. good thursday morning, everybody. thanks for being with us. i'm maria bartiromo and it's thursday, april 27th. the tax plan arrived and the white house's proposal includes significantly cutting individual and corporate tax rates. treasury secretary steven mnuchin broke down the plan. >> this will pay for itself with growth and with reduced -- reduction of different deductions and closing loopholes. maria: the tax plan comes as a budget ballot looms on capitol hill. looking to avoid a shutdown just two days from right now
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reporting ford motor, under amour. better than 8% higher on under amour. amazon and alphabet, parent of google, on deck for the earnings news after the close tonight. futures, meanwhile, indicating a higher opening for the broader average. the dow industrials are up about 30 points. s&p and nasdaq in positive territory. in europe, cac quarante in paris down 1/3 of a percent. the european central bank kept interest rates unchanged. that was expected. mario draghi will have a news conference later this hour. the asian indexes are fractionally moving. shanghai, hang seng up 1/3 of a percent. and honda looking to drive over the competition. they've got the self-driving
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lawn mower that could be a grasset to your yard. [laughter] >> and a new plan to overhaul the country's tax code as they battle for budget reform. would cut the brackets from seven to three brackets. that rate is 10%, 25% and 35% at the high end 35%. doubling the standard deduction for taxpayers. meanwhile, a married couple, filing jointly could deduct $24,000. for businesses the corporate tax rate would be cut by more than half from 35% down to 15%. the estate tax and alternative minimum tax both gone under president trump's plan. treasury secretary steven mnuchin says the tax cuts will jump start economic growth, watch. the core principles of this, we've been meeting with the house and senate, and they agree 100%. the core businesses make
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business rates competitive, bring back trillions of dollars to create jobs. simplify personal taxes, create a middle income tax cut. so those core principles are nonnegotiable. it will pay for itself with growth and reduction of different deductions and closing loopholes. maria: joining us right now is committee for responsible budget. maya, thank you for joining us. >> good morning. maria: your reaction to the proposal? >> i think it's terrific that we're moving on tax reform and big fundamental structural tax reform it's long overdue. we want something that will simplify the tax code, enhance our competitiveness, grow the economy, bringing the corporate rate down in particular is something we need to do given who we compete with around the world and their tax structures. all that said, if this plan is
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not affordable, by all indications it's not anywhere close and adds to the debt trillions of dollars, so far it looks on course to do, that will undermine the growth effects. you'll have improvement in growth from better tax reform and a negative consequence on growth from a higher debt level. so, what we need to do is take this outline and figure out how we're going to pay for it. maria: well, what do you think? do we really know how much it's going to cost given the fact we don't really know the deductions yet or a lot of the details within it. >> no, it's a one-pager, bullets, a structure, high level objective and that's great because it gives us opportunity to fill in the details. the secretary of treasury before, the republican leadership, they've said that revenue neutral is the objective here and i agree, if that's the objective, we can really do something positive for growth. so, then we have to start to look at how do you offset those costs? and there are actually many, many possibilities. one good thing they did say
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yesterday, they're looking at broadening the base, hopefully on the individual side getting rid of taxes that exist and that's good for simplicity in the tax code. they can do on the corporate side as well and pair this with other revenues and spending cuts, a whole lot of pays to pay for things and it's hard so you'll have a lot of people kind of in the free lunch camp saying don't worry about paying for it, magically fix it themselves. let's make it had a pro growth plan and along with it a full plan not to balloon the debt, but to vasty reform the tax code. >> one question is the big deduction for state and local taxes coming outment i worry that that could be highly politicized as the new york, new jersey, connecticut, california, three blue-- four blue states are going to be adversely impacted when their high taxes can't be deducted. what's your thoughts on the politics around this as this one-pager makes its way into the form of a bill?
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>> yeah, well, exactly. the politics of paying for things is never good and that's why we don't. that's why we have nearly a $20 trillion debt. anytime we say what about this as a way to pay for something, the political response is that's really hard and people don't want to do that. i think it's why we have to look throughout the entire tax code. the state and local deduction is a great thing to have on the table. i know the high tax states are going to object, but the low tax states are subsidizing the high tax takes so there are plenty of arguments, and it's an economic argument we should welcome for the betterment of the tax code. a lot of other deductions, they said nothing on the home mortgage interest deduction. there's a case to be made that that doesn't do what it's supposed to do. certainly if it's subsidizing vacation homes. you can go through every tax break and why, if it enables you to bring rates down lower, be good to reform or eliminate
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it, for the betterment of the economy through paid more structural reforms. lobbyists will be lining up to oppose the hard choices in tax reform and again, that will be so many people that say, don't worry about it, this will pay for itself. remember, when reagan put in a huge tax cut, he had to get rid of about 40% of it because it didn't pay for itself, it ended up increasing the debt significantly. dagen: we used to deduct the interest rate on credit card debt and ronald reagan got rid of that. you're in d.c., do you think the mood is in place to really tackle this? as jason riley says, there's ten lobbyists for every line on the tax code. >> the mood in washington in competitive, partisan, and not focused on really working together to get high level objectives done which is what we need to be doing. one of those objectives is clearly growing the economy, tax reform needs to be a part of that.
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another is tackling big debt. what president trump said when he was running for office, he was going to grow the economy and use that growth to help get control of our massive debt. if we're now talking about using that growth to pay for tax cuts or other things, we are still on track to borrow at least 10 trillion dollars over the next decade. i know this president who wants to be-- his legacy to be having overseen the biggest tax cut. he doesn't want his legacy to be the biggest expansion of the debt. and when say this it's too hard, we'll need them to do important and lasting in terms of the economic growth legacy and that's going to take chances in washington. maria: that's why interest rates are going up, jack. >> i think that the political problems and hurdles he's going to clear are high indeed. if, forget about that for a second. what do you think the most economically efficient way would be to lower these rates,
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but still make it somewhere close to revenue neutral? what loopholes would you plug? >> o, on the corporate side i would look at that interest deductibility, i'm not completely opposed to the vat, there are other options out there about you looking at that, the way we change internationally is going to do a lot of good. we have to broaden the base, there's no way to broaden the corporate tax base enough to get us down to the 15% tax rate. in we want to do that we have to get revenue from other sides. individual basis all told 1.6 trillion dollars in revenue that is lost because of tax breaks every year. let's get rid of as many of those as possible. let's start with the idea of getting rid of all of them and figure out which we want to keep and put them back in. second thing, there's other revenue options. i think that they said they're not kosconcerned, things like a
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carbon tax or vat, but you could make huge structural reforms, with a tax code and another thing you can do, cut spending. you can, as you're reforming the tax code, offset the costs by bringing spending down. this is a republican administration, and senate, house, they said they wanted to control spending for a long time. big challenge for us, the president took entitlement reform off the table. let's put everything on the table and do a whole budget and figure out how much we can afford and do a big comprehensive growth plan for the economy. maria: i don't know that that's coming this time around. >> probably not. >> i hope donald trump calls you, those are a great ideas. maria: thank you for weighing in on this, we appreciate it. maya mcginnis joining us this morning. and stuart varney will weigh in next. two titans with earnings after the closing bell tonight. amazon and google parental
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>> welcome back. big week in washington, as well as on wall street. markets increasing their gains as the trump administration rolls out the first steps towards reforming the tax code. joining us now is the host of "varney & company," stuart varney. stu, i think you got it as close as you could have, you just were expecting tax cuts. that's pretty much what we're getting as opposed to a broader plan. we don't really know about the deductions. stuart: look, it does seem narrowly focused at this point and of course, we don't know exactly what we're going to get in the final result. we're capping off a remarkable week for president trump and the markets. look what we've gotten as we
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approached the 100 day mark. a tax plan, it's on the table, it's there. we've got an agreement that we're going to renegotiate nafta, not kill it, renegotiate it. and we had louie golmert, an end an a dynamic week and the market looks to another upside move. we're only 140 points away from an all-time high on the dow industrials, quite a week, maria. maria: it has. a lot of people were writing off health care reform and we're seeing real compromise. stuart: louie gohmert said it this morning, he said, look, he was hoping for a vote tomorrow or saturday. that's within the 100-daytime frame. now, louie gohmert is a freedom caucus guy and we've had our differences because of this, but, i mean, they've come
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around. if they can get the moderates on board as well, i think you've got a health care, obamacare repeal deal in the very near future. maria: incredible, dagen. >> here is my windup, new york times on the tax reform proposal, handout to the rich. i love you. [laughter] >> number one all of those rich democrats, why don't they give back the tax cut they're going to get. i haven't heard one of them say, oh, yeah, i don't want this money, i don't agree with it, i'm going to give is back. i haven't heard one of them say that at all. maria: you're not going to. stuart: frankly, it's the middle class that gets, what i think is the most important deductions and the most important tax cuts. look at that, 15% top rate on mom and pop businesses. dagen: thank you. stuart: backbone, middle america, that's not a give away to the rich for heavens sake. i'm tired of democrats, sniping
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from the sidelines about a perfectly good tax plan and they have no answer for it whatsoever. maria: corporate taxes should have come down a long time ago and you finally have a plan in place to take corporate taxes down and we'll see if it's ending up at 15%, a lot of people feel it will go higher, 20%. anything is better than 35. stuart: you're right and it probably won't be 15 percent at the end of the day. if it's 20%, are we going to complain about that? please. maria: you'll have more, stu, we'll see you in ten minutes. stuart: sure thing. maria: join stuart at the top of the hour, "varney & company" after mornings with maria. there are a lot of stocks to watch, dagen. dagen: thank you, maria. alphabet set to report first quarter earnings after the closing bell. analysts are expecting earnings of $7.39 a share, this, of
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could,the parent of google. youtube's recent advertising controversy and focus, they're up 12%. amazon a company to watch, reporting quarterly earnings after the bell. analysts expecting earnings of 1.12 a share. amazon shares have soared almost 50% since last year. go, amazon, go! >> and coming up next, a machine that's a cut above the rest. maria checks out honda's self-driving lawn mower outside after this. ♪
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♪ >> welcome back. coming to you from outside the plaza at fox headquarters. tedious yardwork could be a thing of the past. honda created a self-driving lawn mower. we're getting an exclusive look at it right now in action. joining us now on the plaza is honda equipment manager, nina bryson. thank you for joining us. >> thank you. maria: what a great idea to have a self-driving lawn mower. >> they have a boundary wire
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and inside the boundary wire is the perimeter of where he'll work. there are sensors in case there's an obstacle that is in front of miimo, he'll back up. you don't have worry about your pets harmed by it. maria: and if something in in its way, notice there's a wall there. >> he did. maria: he turned around, that's terrific. what is the cost of miimo? >> this unit, there are two units, this one is 2799. maria: wow. >> he actually is competitively priced with the other robotic lawn mower. maria: we're looking the way it's mowing this lawn here. is it going to be smooth or lines on it, how are you mowing it? >> that's a great question. because miimo mows in a random pattern, you won't have lines on your lawn. you won't have a the streaks either.
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he does a great job keeping it beautiful without patterns. maria: what is the idea behind a self-driving lawn mower. >> honda loves our customers and a lot of customers don't have the time or don't want to mow their lawn and miimo will be able to help them. maria: it's cool. it's all about sensors, on the lawn mower or lawn as well. >> both. >> they'll come out and install miimo, and put the boundary wire around your landscaping. if you have trees or flower beds, miimo will not plow through those and the censors follow the boundary wire and follows where they'll go. >> are there limitations how big the lawn is. how much acreage does miimo
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coverage? >> .75 acres and there's one for half an acre. maria: there are smaller ones, this is the larger? >> this is the larger one. maria: and what kind of reception. honda wants to make sure you get the products that you want. >> it's positive. >> we're launching in june and it will be at power dealers, maria: interesting it's already been available in europe. >> it has for about four years. maria: how come it made a little while to get to the u.s.? >> in europe in the lawns are smaller and in america they are far more complicated, a lot more landscaping, a lot more climate change environment here, europe is a smaller market to test and we've been able to make revisions for america.
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maria: how is it powered? >> there's a lithium ion battery, and this will run for 60 mrints -- minutes and then go back to the docking station and charge. maria: are there different terrains. >> and once you program miimo, he will work on a slope up to 25 degrees. as long as he's in the boundary wire. maria: thank you for coming and showcasing for us. it's interesting to see miimo from honda. be right back with final thoughts. ♪ anything worth pursuing requires knowledge, hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last
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♪ ♪ laughing all the way to the bank ♪ ♪ it seems so funny ♪ ♪ a bunch of guys like us in a big blue bus ♪ ♪ making that easy money ♪ >> welcome back, great show today, and a major tax plan. let's get final thoughts. >> we are going to have a lot between now and friday. tax reform, health care reform, and potential government shutdown so it's going to be an exciting turn to the weekend. maria: how is that for news?
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jack otter. >> i love the tax cuts, but we've got to be realistic not to explode the deficit. we'll have to look at entitlement spending to not saying we have the sacred cow. maria: dagen. dagen: jack is ending the show the way i didn't start its glass half empty. >> sorry. dagen: and 15% tax rate not just for big companies, but small bu an administration who understands where the job creators are, mom and pop and small businesses and they need to get a break and about to get one. maria: and that's who is going to get relief with the 15% tax rate. thank you, dagen, jack, mitch, and people with me here on the plaza are the journalism students from brooklyn. my alma mater. girls, thank you for watching the show today.
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great to see you all. give me your take away from a live program at bob: network, joanna. >> it takes a great team to produce a show like this one. maria: sure does and we have the best team in business. thanks, girls. thanks for coming by on fox business today. i'll send you right over to "varney & company" and over to you. stuart: maria, i'll take it. thanks very much indeed. the live action presidency is back with a vengeance. trump piles it on and jams it in before the 100 day mark. good morning, everyone. three big developments, the tax cut plan, the middle class wins big. nafta, the president will not kill it. he will renegotiate. health care, the freedom caucus signs on to reform. now, the president is doing what he said he would do, action on taxes, trade and obamacare, the growth agenda appears to be back on track and here come the critics. the democrats say tax cuts raise the deficit. that's rich, isn't it? coming from the party that


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