tv Mornings With Maria Bartiromo FOX Business September 27, 2017 6:00am-9:00am EDT
cheryl: that is if arrested we. we want to say good morning to maria bartiromo was life in our capital, washington d.c. good morning. maria: thank you so much, cheryl. good morning, ladies. live from d.c. this morning, i maria bartiromo appeared wednesday, september 27th. special coverage this morning at the white house preparing the replay in. 6:00 a.m. on the east coast. the biggest tax cut in american history the president says promising sweeping changes as the administration prepares to release its major reform plan later today. commander-in-chief will travel to indiana to celebrate the rollout. fox business network taking you back to the events at 3:00 p.m. eastern when the president is in indiana. the health care plan flat line. the latest gop effort to repeal interface obama carries on hold right now after mitch mcconnell pulled the vote. from our nation's capitol,
features this morning with a flat opening. this by about two points. nasdaq higher by seven points. very much fractional list this morning. european indices live up a quarter of 8% right now. the dax had half of a percent in germany and the cac carotid up half a percent. mix that they had signed an ashamed hate composites. the nikkei average than a third of a percent. alabama shake it up. was moore has defeated incumbent luther strange in the special senate seat runoff. >> we can support the president. don't let anybody in the press think that because he supported my opponent that i do not support him. i believe they can make america great, but we must make america good. trade do what the victory means for the party in the white house. danger in afghanistan. rockets land in the kabul
airport after secretary of defense jim mattis arrived in the country. the new security concerns as the copilot man in isis claim responsibility for the attacks. devastation in puerto rico this morning as the territory looked to recover president trump says he will travel there next week. latest on the recovery efforts including music superstar pit bull. #change, which would've plans to double down on threes. literally. joining me to talk about at "the wall street journal" global economics editor, jon hilsenrath and chairman of the american conservative union, match lot busier. fox business network dagen mcdowell in new york this morning. maria: missing you come a day again. we are getting details. what is your takeover here when you talk about this tax plan? 20% corporate software expect game. pastor at 25%. what about individual breaks my
friend? dagen: dsu has been reporting it looks like a malicious boil it down the higher income americans likely will not get a tax cut and could get a tax increase because it looks like as it stands now, you will not get that much of a decline in the very top tax rate. we don't know what the income breakpoint would be. the top income threshold now is the top rate is now 3926%. if you earn more than $418,400 a year, you pay that rate. we don't know whether this tax plan, where the breaking point would be. it's not going to be a tax cut for everybody. maria: especially to eliminate the deduction of state and local income tax. the tax rate from 39.6 to 37 or 39 which is what they're talking about in the local and state income tax, you could be looking at an increase. have you seen it?
>> dagen is exactly right. douglas in the the details. what are these pay for us, deductions they take away. in the end, all that effective tax rate. not just the beginning tax rate. overall, this is going to be a big, big tax rate. >> we would not know details of this for a while, because they are leaving it for lawmakers in the house and senate to work out what the top rate is going to be. three brackets at the top rated 35%. now it looks like four brackets with a top rate of undefined. maria: exactly. we are waiting on not really a nurse. >> i think it's going to be a millionaire raid around 39.6 and that is something that could get jacked up later on with a democrat in the white house. maria: you are absolutely right. a lot to talk about on the subject. utah senator and senate finance committee chairman orrin hatch is at best. ted cruz will join us this
morning along with washington congresswoman and conference chair, cathy mcmorris rogers is here. singer-songwriter clint back country and black is here. taken it off defeating incumbent senator luke are strange in the republican runoff yesterday. the senate seat vacated by attorney general jeff sessions. roy moore's victory comes despite being outspent by a margin of 10-1 who is backed as senate majority leader mitch mcconnell of president trump. moore said the facts most often for from working with this administration. >> we can support the president. don't let anyone in the press think that because he supported my president that i do not support him and support his agenda. maria: the president applauded warne's primary win treating this yesterday. congratulations to poor is when an alabama.
both are strange started way back in ran a good race. roy wanted -- what is this? when in december. congressmen of carolina who chairs the republican senate committee. thanks for joining us. your reaction to these results. >> i don't think it's much of a surprise. we believe this is a referendum on mitch mcconnell and the ability to be able to reform specifically a major items are promised american people the last few years. somebody says what does this look like to donald trump. i don't think it stinks to the president at all. i believe it's another shout, another call to action, specifically mitch mcconnell. maria: what do you think worry more will say when it comes to things like tax reform, health care? >> every means to be seen. we live in a culture where we continue and remember the
effective conservative is a huge component of this not just being conservative. if your policy never reaches the audience come you have to ask yourself what good is this policy? >> together thing about alabama which is interesting as there is a little bit of a corrupt bargain with roy moore given a nice cover to the former governor who got himself in trouble. people are just done with those. >> absolutely. they want someone to feel like did they say a writer whether there's much truth or not. to maria's question, that remains to be seen. can you come in and bring those values you aspire to in turn them into a way to effectively be a legislator. >> congressman, i want to ask about the tax they were just were just talking about the uncertainty where the top rate is going to be. if you get yourself in your group behind a plan that doesn't lower the top rate to some level below 39 points. >> i think we can in here a spy. if we look at the last few
months we have $980 billion of obamacare taxes that we are hoping to include in the whole reform relief package because those two things are off the table. we have to look at primary focusing on the middle-class tax relief and work her way to making sure everybody gets an opportunity, even the upper brackets. our focus should be on the middle-class. the other component removes the main talking point from the left for my democrat friends who want to make the case we are only concerned about giving the rich more tax breaks. maria: you got bullied again by the left. >> i wouldn't put it specifically in that component, but if you prioritize come you only have so much money. it should be the middle-class. maria: we understand that. even i've spoken a hundred times on who pays all the taxes. when you look at the highest earners, that's where the tax revenue is coming. what i said in the past as if you don't cut taxes on the highest earning, are you really
cutting taxes? >> i want to point out half of americans in this country pay no that federal income tax then this is the right getting into the argument that somehow wealth is evil and riches are evil and that people who make north of half a million dollars a year don't benefit the economy and they don't deserve a tax break. and again, the redistribution of wealth, where you are going to tax the 10 chile people who make a lot of money in this country can't even more money to give people a break who already don't pay income taxes. >> dagen is a rockstar. i do want to push back too much. the top 1% paid 24% of the taxes. maria: what about the top 10%? 70%?
>> it could be that much. we've got to continue to make sure the tax breaks go across everybody pay in taxes. if you have money without pushing things further into debt and you have to make a decision because you didn't get it as part of this because you didn't repeal the $980 billion of obamacare taxes, you have to do it in stages as opposed to out once. maria: make a good point because it comes up how are you going to pay for this. that's where we are. >> there's $1.5 trillion that the party has to work with in the congressman says you've got to figure out how you're going to do the data. let's talk about some of these as you say, state and local tax deduction, is that going to go away? corporate interest rate, what will go away in this? what is the reform part of this plan? >> we hope to reform component manifest itself into everyday life for the middle-class, specifically more opportunities
to take your family out to eat. those are the kinds of tangible benefits we want to see. when it comes to what you talk about, state and local taxes, i don't believe we'll delve into component to make any impact on the state and local. this is completely from a federal. when it comes to other places to reform, we want to make sure people are deductions when it comes to higher education, mortgage interest deductions. >> are you saying you don't want to don't want to get rid of state and local? >> absolutely. north carolina is the benchmark was the local taxes. her state senate has continued to reduce in the last five or six years. some of those areas we are leading the entire country. >> this is a deduction. you want to keep the deduction in place? >> listen, if i had to choose right now, that's too eliminated. we've got to make sure it today will be a mini retreat. i don't want to be premature to
kind of hear from kevin brady from the ways and means. >> what about the deficit? $1.5 million coming out of the senate. >> we are not comfortable with that at all. we've got to make sure when we put numbers in the matchup with god to make sure this breaks down with revenues not depleted to the place where robbing peter to pay paul. >> you don't have any deficit over 10 years. >> we are a balance budget balances of 10 years. >> you do want this revenue? >> absolutely. maria: one of the most powerful lobbying group out there, the real estate lobby and carried interest. anything being done there? >> not that i know of. today when we unveil the details with kevin brady for the first time gives us more than a framework, we will know more information. this finance not heard of that.
maria: let's look at obamacare. at first repeal upon the care officially on ice after senate leaders conceded they would not be moving ahead with this repeal bill sponsored by republican senators lindsey graham and bill cassidy. the decision less than 24 hours after pivotal republican senator susan made. they are insisting the site is not over. the theater reaction. >> to my republican colleagues, we are going to fulfill our promise to repeal and replace. we are going to improve health care for you because at the end of the day, that's the only promise that matters. >> we haven't given up on changing the american health care system. we will not do that this week, but it still had us still had us and we haven't given up on that. we do think it is time to turn to her twin priority reform of the tax code. maria: obamacare remains the law of the land.
you believe we will see a change at some point? what's the plan? >> it was interesting to listen to what lindsey graham used versus mitch o'connell. mitch mcconnell the majority leader talked about improving the health care system. the position with 160 members were 17 of the 20 chairman we are committed to continue to repeal. without going to the talking points, 94100 counties are down to only one insurance options. premiums continue to rise. this is not something we can look the other way on. >> absolutely. not fulfilling their promise for a 7.5 years to repeal and replace obamacare. that's a little bit about what happened in alabama. not for filling promises there's big trouble. maria: good to see you. thanks for joining us this morning. congressmen mark walker appeared a lot more to come. stay with us live from d.c. this
maria: welcome back. isis and taliban claiming they targeted defense secretary james mattis is one in afghanistan with rockets. cheryl casone with the details on this. cheryl: yeah, maria, new information. reports say anywhere between 40 to 45 rockets fell at the kabul airport in afghanistan hours after secretary of defense minister back in the country for talks with officials there. no word so far in casualties,
but the taliban and isis both claiming responsibility for the attack. the taliban says the target was defense secretary mattis. president trump is going to visit puerto rico next week to survey the damage caused by hurricane maria. >> codec to take a moment to send america's hearts and prayers to the people of puerto rico and the u.s. virgin islands. i have directed all relevant departments and agencies to assist in the response and recovery effort. i will be going to puerto rico on tuesday. our nation has been tested by the district to force of mother nature. but we will respond to it but then even mightier for us. the resolve of the american spirit. cheryl: that help can't come fast enough. rapper pitbull is sending his private jet to transport cancer patients back to the u.s. mainland to get their treatment.
dallas mavericks owner mark cuban providing his team plane to point guard jj appropriate to deliver supplies to the u.s. territory. he was born in puerto rico. ceo at equifax stepping down weeks after a massive data breach. richard smith abruptly resigned yesterday. he's not going to receive a bonus for the year, but he could still get 18 million pension benefits. he is due to testify before congress next week. perino, director boris junior come executive from an asia pacific division to serve as interim ceo while they go through the crisis. shares of equifax tumbling 5% since the company announced a massive data breach. the stock down 11% so far year-to-date. maria: one of those and not stop. cheryl, thank you at a national epidemic. 100 million americans die together from opioids. how the white house plans to
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maria: welcome back on the nuclear crisis of the president's on combating drug addiction and a good soulmate. this coming after us chris christie the commission had called on the president to declare the crisis of national emergency. opiate pharmaceutical ceo expected to testify later today in front of the commission. he joins us right now. thanks for joining us. what are you expecting today an average of 91 americans die every day from an opioid related overdose according to the center for disease control. with the money or for the white house today and tell us which
are deemed. >> thank you. we attest to find amongst other industry leaders it's really for us to have the opportunity to provide our thoughts on this crisis. for us it's very important that the government really recognizes opioid addiction and disease. that's really important starting point when we consider how we offer better treat her to the thousands of patients every year. maria: how did this happen? tell me how this became a big of a crisis as it is? >> like many crises that several companies impacted me in my background as a surgeon come at the main factors in the overprescribing of opioid medication. it's quite interesting in this country, starts by providing an opioid painkiller for any type of pain and considering where to go next. my -- i would perhaps provide
acetaminophen, ibuprofen and work a providing an opioid painkiller that the patient's condition. maria: doctors prescribing drugs. >> how we in this country used to prescribing in combination with the marketing tactics in the past. these types of foods in the crisis. >> the american conservative union spends a lot of time looking at the impact of this addiction on families. they pleaded to the election of 2016 coming from the lays out there across america where people feel that you're hopeless. is there more component to the drug addiction as well? >> they are giving up hope. if you like they don't feel positive about their life and have good economic prospects. >> is difficult to know the data we have. i'm sure for many people it's an
issue. once we recognize addiction as a disease, there is less blame or perhaps considerations of people in through that way, we can start having proper medical treatment not just for the success we've had with the development of the narcan nasal spray, which is saving lives, but also the condition more broadly. >> how does it fit into this? tell us what your role is in this crisis we are talking about. >> we are dedicated pharmaceutical companies. we start by developing this narcan nasal spray, which saves patients lives. should they overdose from an opioid. when that happens, you stop breathing. the way of saving a life is too delivered as quickly as possible in the narcan nasal spray can be used by anybody.
we have licenses to another pharmaceutical company cannot be distributed throughout the united states. >> where you find in the crisis is hitting most? we are at "the wall street journal" writing about rural america and the problems hitting so many rural and post-manufacturing communities. is that where you see your business grow? >> we had the same question basically. >> while we see is plural. by proportion, yes absolutely. however, it is as much a disease as the area in rural america and we see it more widespread than we typically have considered. with that in mind, being able to offer access to medical treatment for everyone's concern is absolutely critical. maria: you said that the narcan nose spray because of what is in
the nose spray, should people be worried when i nose spray? >> the compound and the narcan nasal sprays the locks on here that is not a big event all. it is a drug antagonist. this cannot be abused. a cataract is a fact of the opioids and we are committed to using opioid antagonist as a nasal spray or may not just overdose situation. we have a product for alcohol use disorder where patients will deliver another opiate antagonist at the time when they want to drink and it will block the rewards from alcohol they might otherwise experience and it's a really compelling way of potentially combating that addiction. maria: incredible. thanks for joining us. thanks for joining us here from opioids. the government is set to start tracking the activities of immigrants and find the u.s. citizens on social media.
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maria: good wednesday morning. welcome back, thank you so much for joining us. i'm maria bartiromo, coming to you live from washington, d.c. with special coverage as the white house prepares town vial its tax reform plan. it is wins september 27th, your top stories right now, 6:30 a.m. on the east coast. tax reform on the table. president trump said to unveil the overhaul in indiana, what do
we know now? the pass-through rate at 25%. we have full coverage coming up later this morning i will sit with hatch and ted cruz. north korea slapped slapped wite sanctions the u.s. ramping up economic pressure on the kim jong un regime as president trump say it is use of military force is not the preferred option. markets hovering near the plat line. dow industrials up about 10 points, nasdaq, s&p 50 also in the plus column. in europe major indices fractionally better on the session. as you see the dax index is half a percent. 60 points higher. the other majors up a fraction. the winners in congress honing and china, although the nikkei in japan down a third of a percent. kospi flat in korea. taking on tesla, company known for vacuums to move no electric
vehicles. bob corker planning retirement. >> i was ashamed of what was taking place because to me that was a very important moment. i don't think you can disrespect our country, our flag, our national anthem. to me the nfl situation is a very important situation. i think it's a very important thing for the nfl to not allow people to kneel during the playing of our national anthem, respect our country and to respect our flag. maria: and now business is affected, direct tv giving refunds to some sunday ticket customers who were offended by the protests, they demanded their money back, they are getting it. the paint-staining cars, the lines are crooked. amazing, we will tell you all about it. twitter may have to finally cave
to popular demand and double the amount of characters and that character limit. tracee carrasco with the details. >> for many people the draw twitter has been the message, but a lot of people complained about needing more space and edit thoughts to get them under limit. 280 characters doubling current limit of 140. reviews so far has been mixed and twitter is preparing for lack -- backlash on those oppose. we understand since many of you tweeting for years there may be emotional attachment to 140 characters, we tried this and saw the power of what it will do it will be tested on small portion of users but not confirm if president trump would be part of that test group. so #we will see. maria: #we will see.
when we'll we know, tracee? >> as far as when to take effect? maria: yeah. >> they will test and roll it out how it works all over the app, all over the website. it could be a while. maria: it would change the way people use twitter, dagen. you and i are tweeting all of the time. dagen: it's called facebook where you don't really have to self-edit. i suspect and i'm guessing this is what instagram does. if your caption on instagram photo is too long, there's a little more link where you have to click on it to open up full comment. twitter can do that. it could still present the tweets at 140 and then you'd have to have click on like a link to read the fuller tweet. again not to jam up the news feed, jam up twitter feed where
it's long comment after long comment. john: i don't tweet. i want to hear what you think, does this -- does this hurt twitter's brand about comment and what makes them relevant in the first place? maria: i like to tweet. when i tweet about who is coming on the show and i do that every day, i can't include everybody. we have a lot of guests. i like to include everybody and a lot of times i have to say, i won't be able to put that in and i won't be able to put that in. i sort of like it. >> it was benjamin franklin who said i would have made my letter to you shorter but i didn't have the time. sometimes it takes a lot of time on twit the other collapse it and be clever. footnotes on twitter are a big mistakes. maria: apparently the president's tweets are weighing on americans, two-thirds of the
americans say they disapprove, democrats overwhelming oppose the president's method of communicating with the american people. 36% republicans approve of tweets and 50% of the president supporters approve. are you surprised fbi journal's numbers, jon? i don'tjon: no, we were talkingt the nfl protests and how that played out this weekend. this completely depends on who you are. people who don't like trump are not going to like his tweets and people who support trump are going to like the way he goes about using twitter. and we saw that play out this weekend. i think when he was speaking out about the nfl protests, the people who support him were very much in support of this idea and people who were against him were outraged by it. it's just a very polarized world right now and that's reflected in the president. maria: well, then while even though the dems, the left says they don't like it, they are also tweeting more. >> that's right. maria: picked up tweeting.
>> i call it totus. it's here to stay and revolutionized how the president communicates. people can like it or hate it but it's having massive impact. we are all talking about the national anthem. it happened just like that. maria: the department of homeland security to keep tab on immigrants under new rule, the agency will begin collecting data on immigrants from social media next month that includes permanent residents and naturalized citizens. the officials records will include social media handles, aliases and search results, your thoughts on this? >> well, the government is tracking us in way that is would absolutely disgust us. maria: that's true. >> a country and we have to have a big conversation about what privacy means, we are losing day
by day. maria: the horse has left the station, has left the barn, dagen. even uber is tracking us. dagen: that's the issue, how in this day and age where so many people are putting more and more of their private information online, show the nation do you defend yourself? you can't sit back and say, okay, we are not going to look at any of this information online and, by the way, this is an individual choice, how much information you put out there and all the big private companies are making money off of your most private, personal, photos and information every single day. people don't have a problem with that, but they have a problem with the government defending the nation's security. i think that you have to find a middle ground somewhere. >> can i just jump on in on that, dagen, the other issue is it's fine that you post stuff on line everybody is going to see it. i don't think it's appropriate for companies like google to track everything my teenage
daughter is doing. they look at the barometer. i think specially with kids that have phones and online, there's information that we should be much more careful about having it become commercial. john: what strikes me is the homeland security move to collect data on immigrants but also naturalized citizens, where is the line that they are going to draw, whether you are looking at illegal immigrants and tracking them versus american citizens, that's a tough question. >> agree. maria: unfortunately right now as you mentioned it and dagen mentioned all of the companies are already tracking us. >> more than we ever imagined. maria: more than most people know. younger generations don't care. maybe we care, but younger people already throw it all out there. john: homeland security, that's
the state, you know, and these are people who have the means to affect your life. maria: what is google doing with that information, what is facebook doing information? >> selling for ad space. there's going to be a big political pushback on this when people realize how much of their lives are out there publicly they can't get back. maria: great back. increasing the pressure, more sanctions of north korea ahead of rex tillerson's trip to china to talk about the rogue nation. details coming up next
averages, take a look. nasdaq up about 10 points. fractional moves right now. a couple of names on the move. nike certainly one to watch. reported first fiscal first-quarter earnings. earnings topped expectation but the retailer did see slowest quarterly sales growth in nearly 7 years. nike shares down better than 3%. we know that adidas has been taking market share. plus streaming company working with airline services, earnings will help carriers improve technology making it easier for passengers to stream. shares of netflix up 90% over the last year. pretty good return. the treasury department slapping north korea with more sanctions. cheryl: the united states applying more financial pressure on the rogue nation. the trump administration adding 8 north korean banks and 26 individuals to its sanction's list coming after the president
issued a new warning. >> it is time for all responsible nations to join forces to isolate the north korean menace we are totally prepared for the second option, not a preferred option, but if we take that option, it will be devastating, i can tell you that, devastating for north korea. that's called the military option, if we have to take it, we will. cheryl: meanwhile secretary rex tillerson is headed to china this week to discuss a way out of the crisis. well, from vacuums to electric cars, british vacuum cleaner maker plan to go build, yeah, an electric car, the company is spending 2.7 billion to develop the new car, about 400 earnings have been working on this project for more than two years, dyson wants to launch the car by 2020.
nearly painted lines came out as you can see on your screen nice and crooked, confusing. the problem has happened after the state tried out a new line-painting system on the highway. yellow paint staining cars because it's not drying quickly enough. it's humid in alaska right now. the transportation department says they're not going repaint the lines. yeah, the state says deal with it and good luck driving through that in alaska. maria: that's incredible that the lines are like that and they just say deal with it. >> in alaska i'm happy that they are alive. i figured they do what the heck they want. [laughter] dagen: that's your government at work for you. maria: yeah, exactly. you want to government to fix everything, that's what happens. maria: and here we are talking about expectations of smaller government, but let's talk about how this administration sees it. >> yeah, absolutely. the whole idea of the tax cut and the effect on the economy
and everything? maria: yeah. >> donald trump is the great emergency brake. he stopped the e radical move of eight years of obama to socialism, all the regulations, regulatory state and now with taxes we have a real chance to allow this economy to just take off, get the government out of the way. that's why the basic questions on who gets the benefit of these tax cuts and how it impacts job creation and the economic prospects, everyone keeps talking is it a middle-tax cuts. maria: yeah. but, matt, what do are we expecting in terms of the highest rate because it seems like now it's going to be as high as 37 or even 39% for highest earners or maybe that's an additional surtax on
millionaires. >> i don't want to get my wife mad at me. maria: because she works in the administration. >> a plan that's been well vetted with the house and senate republican leadership, but let's face it. after the announcement it goes to congress, they have to fill in all the details, they will determine exactly what the rates are as dagen was talking about in the show, exactly what the income thresholds are. i hope we don't talk like that because that's not how republicans talk. let's talk about tax cut that allows economic growth. if we talk like that, people will understand. more more don't call them the rich, call the job creators? >> it helps everybody, right. maria: nfl fans demanding their money back from direct tv after the protests during national anthem. they are getting their money man. peyton for senate, former
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maria: welcome back, well, the story continues, now nfl fans want their money back. jared max with the story of the morning. jared. jared: maria, an opportunity to protest for the fans, the loudest mouths will be fed, refunds. any direct tv customer who purchased the nfl sunday package can call direct tv and request a full refund, $280. but if an only if you can complain about being turned off by the nfl protests. bill o'reilly paid a visit to
sean hannity last night. o'reilly like many grossly turned off by sunday's events particularly overseas at wembley stadium. >> when the jaguars and ravens were in london and kneeled down on foreign soil and stood up for british anthem. >> god save the queen. >> i was angry and sad. can you imagine putting your life on the line in afghanistan and having leisure time and wanting to watch the football game and seeing your players, your american players disrespect the country and the flag on foreign soil, can you imagine how painful that was? >> gop fundraiser sent two emails from team trump that are centered around the nfl protests and kneeling controversy. corey stewart who is hope to go challenge tim kane to sign petition, if they kneel, we
boycott. owners, players and leftist media who push their insulting divisive identity politics attacks on tradition and honor. temper tantrums thrown by grown men. speaks of sports and politics, could the title senator peyton manning be in the future? shortly after senator bob corker announced he will retire, suggested that peyton manning can be looking at senate seat of his own. manning may be more at run if alexander decides not to run again, maria. maria: yeah, i wonder what this -- what becomes of this, what do you think about peyton running for senate? >> i love the idea of people who aren't in politics to run in politics. i have counseled a lot of people
who weren't in politics and we wanted to become in politics. that's tough business. jon: everybody likes him. >> he won't be after the campaign. jon: exactly. he's a whole different personality. maria: what do you think, jared, what's the buzz? jared: maybe he can move to nebraska and run for mayor of omaha. one of the most popular in the history of nfl, does he want to take another step? the truth he has a long way to go and he's a strong personality. if he wants to do it, i'm sure he can really make great waves. dagen: you know who is more beloved than peyton manning in the state of tennessee, dolly parton. jon: she would shake things up.
>> i'm going to say great idea and marsha blackburn is my personal favorite. she would be a great senator and she's also a woman. maria: i think that will happen, actually. i think you're right about that marsha blackburn. jared, thank you. jared max, catch jared sports reports on fox news headlines 24/7 or siriusxm 115, still to come meet guy who quit job of wings because of national anthem. right here. i'm a concrete mason. i had severe fatigue, went to a doctor. became diagnosed with hodgkin's lymphoma. i had to put my trust in somebody. we recommended chemotherapy, and then a stem cell transplant.
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maria: welcome back, good wednesday good morning, everybody, i'm maria bartiromo, happy wednesday, it is wednesday september 27th, coming to you live from our nation's capitol with special coverage. your top stories right now 7:00 a.m. on the east coast. biggest tax cut in american history. president trump promising sweeping changes as the administration prepares to release major reform plans today. we've got to details. the commander in chief will then travel to indiana to celebrate the roll-out. fox business is taking you live to indiana. we will have live coverage of the event at 3:00 p.m. eastern. we will break down all the numbers and tax plan right now. health care on ice, latest gop effort to repeal and replace obamacare is on hold for now after senate majority leader mitch mcconnell pulled the vote last night. investors are watching the developments from our nation's capitol at this point we've got a flat market although things
have picked up a bit on positive side. dow industrials up 15 points. in europe the indices are higher this morning as well across the board even if just fractionally, dax index half a percent. 65 points higher. ftse up a third a percent. in asia overnight, markets closed the night mixed with nikkei average in japan down and the hang seng in hong kong up. roy moore has defeated incumbent luther strange. president trump tweeted on the win saying this, spoke to roy moore of alabama last night for the first time, sounds like a really great guy who ran a fantastic race. he will help to make america great again. breaking ground on the border wall, prototypes are taking place. fbi shocker. several arrest of college
basketball coaches. >> showed little regard for players' well-being, they ignored red flags and seeing only the green. maria: massive investigation hitting hardwood head coming up. you can ride in little red wagon. how this man turned highway toy into a hot rod. joining me to talk all about it wall street journal jon hilsenrath, chairman of the american conservative union matt schlapp is here and fox business dagen mcdowell. jon: i can't wait to see the red wagon story. >> might be in alaska trying to go along the lines. maria: yeah, those lines. dagen, what's your main focus this morning? i think i know. dagen: yes, looks like the republican in terms of putting together a tax reform plan or going to give in to the argument by democrats that the rich need to pay more, that we need to
redistribute even more wealth in this country because it looks like the top tax rate could now based on your reporting could be anywhere between 37 and 39%. we don't know what the income break would be. probably north of the say $418,000 it is now for the very top earners but nevertheless this as potentially republicans giving in to democratic demands and give get away something for nothing because you know one democrat, not one is going to vote for this tax reform plan. maria: yeah. i've been saying it. they got bullied, they got bullied again and yesterday when we were giving specific details about the plan, i said what's the answer to this the biggest tax cut for the rich that we've seen because that's going to be the talking point tonight, big tax cut ifs for rich and they got bullied. jon: we have to be careful about how we describe what the wealthier are getting out of this.
it's complicated. if you're a wealthy person, let's say you own hardware store and you registered as llc or small business owner, you earn pass-through income and that could be tax rate as low as 25% under the plan. that's a big tax cut. you're also potentially getting a estate taxes going down, corporate taxes going down and the a&t going down. there are pieces of this that will be beneficial to higher-income households. the part isn't is if you're an executive at some company and your salary is a million dollars or more, in that case you don't have much to gain. maria: right, and you could actually be getting tax increase because of this surtax. that's what i want to talk about with you today. we are talking with senate finance committee chairman, senator hatch is here. texas senator ted cruz is here. house republican chair rogers is here, fox news senior judge andrew napolitano will join us
and clint black, it's a packed program this morning. do stay with us. we are kicking it off right here with the top story. president is heading to indiana later today. in that push for tax reform. after the gop scrapped the health care vote yesterday. meanwhile alabama senate luther strange loses primary runoff against roy moore, no surprise there. he had been downgoing into it despite being backed by the president. doug is live right now at the white house and has the latest on the president's agenda. doug, good morning to you. >> good morning, maria, focus turns to tax reform as you have been talking about this morning and do that end the president invited all members of house, ways and means committee to the white house yesterday, nine republicans and eight democrats to lay out a blueprint for tax reform and tax simplification. here is the president. >> under our plan, the vast majority of americans will be able to file their tax return on
a single page without extra record-keeping and all of that paperwork. so we are going to make it very, very simple, simplification. >> the second component that the president layed out yesterday is a substantial tax cut for the middle class, one that includes nearly doubling standard deduction that most families take on taxes and one that increases the tax child credit for families. third, lowers of tax rate for businesses which you have been talking about, presently the highest of any corporate tax rate in the world and lastly he wants to bring american money from corporate, $2.5 million in money, parked money coming to the united states. question is can this inept republican senate and house manage to do that given their divisiveness? they are incapable of compromise, we are not talking about compromise with democrats but with their own caucus, here is the president again. >> we were disappointed by a
couple of senators, republican senators. we are disappointed that they would take the attitude that they did. we don't know why they did it, you can sort of figure that. we will see what happens. >> the special election in alabama last night throws another potential wrench into the works. roy march said he can work with the president and the president said he can work with roy moore even though he supported roy moore's opponent. roy, uncompromising social conservative and would he compromise with moderate republicans or more divisiveness with republican ranks, that's assuming he wins the general election come december. maria: doug joining us there. fox business is taking us live to that event today beginning at 3:00 p.m. eastern. meanwhile the cost for free speech on college campuses is rising, yes, the cost of free speech, authorities try combat violent protests, schools like
the university of california berkeley. according to new york times ucberkeley budgets $200,000, this year more than 1.5 million years just since february. this coming after conservative milo free speech week was cut short, that cost the university $800,000. attorney general jeff sessions weighed in at georgetown university yesterday. >> freedom of thought and speech on american campus are under attack, the american university was once the center of academic freedom, a place of robust debate, a forum for the competition of ideas, but it is transforming in echo chamber of political correctness and homogenous thought. maria: joining us now harvard law professor, alan.
thank you so much for joining us. >> thank you. maria: you will be giving a lecture at colombia university tonight addressing free speech. what are you expecting? what do you make of college campus protestors? >> i'm told that they would not only be protestors, protests-- protestors and they will shut me down and the entire event is soldout. many students want to hear what i have to say. i have a provessor at harvard. i'm not one of the extremists that comes to the campus to provoke. i hope colombia university will provide security not only for my safety but for the safety of students and expression of my views. freedom of speech means that you have to support the right of those who you disagree with, that means that students who are against my views have to be
tolerant of me expressing my views but it also means that although i disagree, for example, with football players kneeling during the national anthem, i am not going to try to deny them their right to do that, so, you know, it's never going to be free speech for me but not for th ee. it has to go across both sides. equal free for the right and left. we see universities trying to stop the right and the center from speaking and we are seeing in some efforts, in some places efforts to try to prevent protestors on the left from expressing their point of views, both have to be protected under the constitution. jon: alan, you said you were a provessor of harvard for 50 years, you have seen generations of kids coming in and out of college campuses, is this different something about the generation you're seeing now? there's always been protests on campus, are young people different today than they were
20, 30 years ago when you teaching? >> very much so. when i was a student in 50's there was a lot of censorship by the right of the left and called mccarthyism and many who are fighting for free speeches of the 50's are fighting to deny free speech and many on the right, wait a minute, we have the right to express our views on college campuses. today's college students think they know the truth. they don't have to hear an opposing point of view. i'm not saying all students. it's actually a small number of sensors, but they can shut down a university and college administrators haven't been as strong as they should be in standing up to these students. many of these students are minority students, they are gay, they are transgender, they are women, they are the specially privileged students on college campuses today who are listened to by university administrators under the banner, all of these
groups are oppressed by the same people and the people who oppress them are americans, christians, zionists. not only in public events like mine tonight but in the classroom itself. classrooms have become propaganda vehicles where audience of students are told not how to think but what to think particularly about sensitive issues like the middle east, arab-israeli conflicts, gay rights, black lives matter, other hot-button issues, they are told what to think and they are graded on what they think rather than how they think. maria: completely against what the university should be all about in terms of diversity, alan, right, how do you change this? >> well, first of all, no radical student wants diversity. they only want superficial
diversity based on identity factors, race, gender. the last thing they want diversity of ideas. the last thing they want more students who are conservatives, more faculty who are conservatives, expressing different views on campus, diversity has become a code word only certain kinds of different but not diversity of real ideas and that's what i'm going to be talking about colombia and middle east, i'm confident colombia will protect me. i hope there won't be efforts to shut me down. remember, i come from brooklyn, i'm not easily shouted down. maria: i come from brooklyn. brooklyn is in the house. real quick, alan, former nfl star o.j. simpson could get out of jail in prison, 9 to 33-year sentence, you were simpson's lawyer when he was acquitted in 1995 for the murder of ex-wife and friend, nevada's parole board did not consider 1989
conviction more misdemeanor spousal abuse, what's your reaction of him getting out this weekend? >> i hope he goes away and doesn't show his face in public again. the american public does not want to hear from o.j. simpson. he should have done that after the acquittal in the california case, but instead he got on television and he got in trouble again. look, his sentence was way excessive for what he was convicted of, he was actually being punished for what people thought he got away with in california. so i hope he will live out his life quietly in peace and dignity and leave us alone. we, the american public, we don't want to hear from you. when i won case, get out of the country, nobody wants to see you, he move today great britain, he hasn't been heard from since, he's been living a wonderful life taking care of grandchildren and family, that's what o.j. simpson ought to do. maria: good to see you.
players will stand for country. the president continues to talk about this nfl and he's doubling down matt sclapp. >> he has instinct on where american people are on cultural flash points. it's amazing he changed the whole conversation around the nfl and the flag and he's taking on the elites, it's patriotism and standing up for armed forces but taking on elites, owners, people who have lost touch. maria: jerry jones, jerry jones said we are going to make sure everybody stands. breaking news out of afghanistan. the taliban is claiming a targeted defense secretary james mattis with a rocket attack in kabul this morning. cheryl casone has that story. obviously troubling, cheryl. cheryl: it really, is maria, we are trying to get more details but now isis has claimed responsibility for the attack, anywhere from 40 to 45 rockets
and rocket-propelled grenades landed right after mattis and secretary arrived. the visit was unannounced. mattis left the airport when the rockets hit at 7:30 a.m. local time. mattis spoke about the attack at a press conference in kabul. >> an attack on international airport anywhere in the world is a criminal act by terrorists, it's designed to go after generally innocent people, to make some sort of statement and this is a classic definition of what the taliban are up to right now. cherp cherp this is secretary mattis' first trip to afghanistan after president trump announced a new strategy for the country. the announcement was last month. no more than 45,000ry -- 45,000
refugees. president trump had cap of 10,000 refugees. but president trump lowered that number to 50,000 after he took office. white house expected to announce the new refugee limit very soon. well, work began yesterday on prototypes of u.s.-méxico border wall. six companies stripped land. the prototypes are going to be anywhere from 30 feet long to 18 to -- 18 to 30 feet tall. it'll be interesting what they look like, maria. that's underway in san diego. take a look at this finally, curtis hutchison, he never had a radio flyer wagon when he was a child, now he has an awesome one. he built one that goes 0 to 90 in 90 seconds. he drives it everywhere. his wife won't let him take it to church but otherwise he's become a viral sensation on the
internet, maria. maria: all right, cheryl, thank you. when we come back, corruption kick back and federal charges four ncaa coaches, judge andrew napolitano weighs in next. tend of the driving ban in saudi arabia, big news there. details on the new decree which allows women to obtain their driver's license in saudi arabia , coming up
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choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. >> today we announce charges of fraud and corruption in the world of college basketball. the picture painted by the charges brought today is not a pretty one. coaches at some of the nation's top programs soliciting and
accepting cash bribes. maria: that was the acting u.s. attorney for the southern district of new york yesterday announcing big college basketball bribery bust implicated in the bust, four assistant coaches at ncaa programs, former nba star chuck and global marketing executive adidas among prominent names in the incident. joins us judge andrew napolitano, judge, thanks for joining us on this. lay out the case. >> well, the government argues that cash from adidas made its way into the hands of high school basketball players to steer them towards certain colleges and some of that money also made its way into the hands of the college coaches, the four that you just showed on the screen. so this is not a case of throwing a game in order to benefit gamblers, this is a case of adidas paying for someone to
become a super star and then years later endorse adidas and college coaches obviously are apparently because there's some issue about louisville as to whether the administration knew about it, apparently without knowledge and consent of the administration facilitating all of this. i've not heard of a crime of this nature. typically when you see something like this and you say bribery in college sports, you think, well, someone was bribed to do something to affect the outcome of a game so that somebody else could bid on it and win money, that's not the case here. this is -- this is corporate cash getting into a pipeline that ends up in the pockets of high school students becoming college students and their coaches. maria: yeah, dagen, obviously not something that anybody expected here. dagen: no, from a business perspective you to watch the stock of adidas. we have talked about it on the program about resurgent brand in
the united states really taking on nike in a way it hasn't before and this could tarnish the brand, most certainly. i think the stock was down 2 and a half percent in most recent trading in germany. >> you want an editorial, maria? the government should have better things to do. this should be lawful and out in the open. hey, we are princeton, we paid somebody to come here instead of going to yale because the free market should prevail not to victorians and not attitudes in lower manhattan. that would agray vait i will speak with orrin hatch about the framework, nothing happens unless the senate finance committee weighs in. that's next. ♪
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corporate rate to 20% and making pastor rate for small business. in the individual rate could be 12 to 25 25 and as high as 37 to 37 percent. his plan will allow companies to become more competitive and create more jobs. with a noncompetitive tax structure right now. we will create millions of new jobs for our people and bring millions of businesses back to our shores. we will become a competitive nation again. it's time for both parties to come together and do what's right for the american people and the nation that we all love. i will set down with them to talk about that. ted cruz. the foxbusiness network is having full live coverage of
the presidents speech. dow industrial is not the high level of the morning. these are the highs. that's a quarter of a% higher on the nasdaq. the major indices look like this. in asia overnight the eight major markets closed mix. president trump just tweeted this on the nfl. jerry is a winner who knows how to get things done. the players will stand for the country. standing up while stepping down. he said that was it. he quit. this top story. president trump will travel to indiana this afternoon to let
the framework for tax reform. it will be a very brave powerful document our plan is based on for very crucial transpose. plus we much bigger tax code simple and fair is too complicated people can't do it. they waste 6 billion hours every year complying with the tax code under our plan. the vast majority will be able to file their tax reform on a single page. to attend the event as well. the democrat from indiana joining me right now. as a chairman of the senate finance committee. nothing happened on tax reform without the senate finance community. can you get this done.
i think we can but have some democrat help. i think we have to put a size of the the differences and start working together. you are part of the so-called big six we are hearing the corporate rate of 20%. individual rates of 12, 12 and 37 percent. when you vote yes to actually raising rates. frankly i would like to get those rates down because i think by doing that we give more added incentives to the economy. there is those two viewpoints. we've been doing that for so long it's unbelievable.
as i can be that. we would almost consider in uniform about cutting the rates and getting them down lower. let's face it. we are way too high. and frankly is debilitating and making it much more difficult for us to increase our economy in the way would like to see it done. i would like to bring those rates down for everybody including businesses as well. it is going to be tough to do. we are so equally divided that it will be almost impossible to do without some democratic help. democratic help. was so difficult? they pay all of the tax.
if you're not actually giving them relief these are the job creators. are you really cutting taxes. it's really unbelievable. how we haven't over balance. they aren't seen anything at this particular point. and all depends on how you depart -- interpret things. i would like to bring the rates down so people can feel good about it. it always happens when we bring the rates down. inevitably and then we have this argument that we have to tax more so we can spend more. what about the idea that everybody should have a stake in the ground.
they don't pay any income tax. even if they were to pay a dollar whatever it is. shouldn't everybody have should everybody have a stake in this. i think everybody i do have some desire to help this country pull have. we are neck and a charge of people who are in the lowest brackets. i'm not against that. it would be good for everybody to realize we all had to pull together. and keep our country the strongest country in the world. we can do that. we knew the talking point would be that this is a tax cut for the rich. we are always getting them. they know it and the bad thing is that they are unwilling to
come together and do something good about it. i'm chairman of the finance committee. and frankly i know how to do it. and it's i think it's time to come together and help this old senator come together. everybody knows that you have passed more bills than most. today republicans are asking themselves how is it possible that the republicans have the majority in the house and yet were not seen the number of bills passed. we can't get anything done. we see network.
it's pretty pathetic when you look at the way the country is going. they want help the other party. hopefully they will grow up and start working with us. i think we can do that. and how that is going to move the needle. have to get your comment on. with one yes vote in hospital. mccain is out we have the health care vote but not till friday. we will have the vote for health care healthcare but not for the reconciliation deadline after which we need 60. get rid of the filibuster rule.
this country is gone. we would've moved to the early start on my tenure. as a rule of freedom. the minority cannot be trampled on. a few of us were able to take them on and do what's right. you have your strongest supporter and he's totally opposed to that type of thinking. and when you're not the majority at the majority you might get rolled over. and frankly, this country would have been done a long time ago. have the rule not been in power. he has a vote. do you think he has the votes on healthcare.
i think you should. you should have the votes. and frankly anybody who is interested in helping this country move ahead. should be voting to support the president on this. stay with us we want to ask you a really important question about the business side of the tax plan. with a clear advantage. fidelity, where smarter investors will always be. for tech advice. dell small business advisor with one phone call, i get products that suit my needs and i get back to business. ♪
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welcome back we are coming to you live in washington dc with special coverage on tax reform. i'm talking right now with the senate of the finance committee. there will be a corporate tax rate of 20%. are you good with this. would you vote yes for that. the president wanted at 15%. we cannot get at that low. do you think the members will agree as well.
i hope we well. and i think it's time to have us come together. we need democratic votes to get it across the finish line. there's so much debate you end up getting up and going. i hope we don't need democratic votes but i hope we get them. that's a really good thing for our country. hopefully one or two republicans won't cause us to lose. where is the debate centered around the corporate around 20.
it's both. we want to work on all of those issues and try to get this. we need to do that. i'm for continuing to do whatever we can. so that we can really compete with the rest of the world. where the only country in the world that can really bring a stabilization. and you see that they're getting a 13% rate in ireland. they already are packing up and moving down. give to make sure that they will bring the rates down. we make it so that it's almost impossible for american companies to keep their financial business in the united states.
why would you want to pay in excess of 30% tax rate when you can get one for 12 and had% over an island. a lot of companies have taken the position they don't want to leave the united states. there is considerable companies that had to think it over. you have to start thinking of the shareholders. when we get rise and bring -- wise and bring those rates down. what is the plan for that. it's estimated that we head about two and half trillion dollars overseas that could be brought back gradually and if we can do that. this will accept the 10% rate. the one time rate. we still have the repatriation
thinkers again. we are so stupid. i understand don't understand why we cannot get that done. they come down hard. we want this done. were tired of this. we want to do are businesses in the united states of america and you guys hold the key. what is so tough about that. the real estate lobbyists lobbyist out there are pretty powerful. i don't think there is any movement on that. you're right. i think it just makes good sense. that's good. i'm happy to hear you say that. on individual rates do you feel you will fight for lower taxes even on the highest earners. how does that debate play out this afternoon.
it is the middle class and the average worker that we want to bring those rates down. so that we have a chance of really achieving success in the society. is just awful. friendliness inefficient stupid federal government. if it was been better work or something. and really doing the job that should be done for america maybe i could go along with that. they are just blowing that money. more more federal programs don't work. with the wise up and went to get more people in congress that actually believe that. and then start cutting back on the some of these crazy programs that are eating us alive. as idea of revenue neutral off
the table at this point. i don't think that should be a rigid rule that stops us from doing what might be the best thing to do for the next five or ten years. i think we would be a lot smarter. i think we have to watch us very carefully and hopefully we can get more people have this old gentleman. the idea of going all the way back to 17 doesn't make sense if you're to come out with a plan and get this done. this will be beginning in 200018. i think that's a fair statement. and you're right on that. thank you so much for joining us. we will be watching the developments.
maria: set up for nearly 30 years eric nick a shark who shirt who worked at the stadium where the buffalo bills play. with the protest in buffalo and throughout the national football league during the national anthem. as the former new era stadium worker. thank you so much for joining us. we appreciate you joining us here. tell me what made you say enough is enough. what pushed me over the edge
was one i felt in my heart the disrespect for the military veterans and the first responders in this nation. i'm kneeling during the national anthem. and did you voice your concern did anyone say to you luck, be quiet. what happened when you started to voice your upset with it. >> i didn't voice it for very long. i have the hat in my hand i threw to the ground and i walked out. as i was leaving. i just kinda left. and its tail around much longer after i had had enough. we still have the pittsburg steelers. i was a houston oilers fan.
and people that were not much that different than the people that were playing on the field. it has really changed. the idea that a town like buffalo that has seen so much economic hardship and when they see people on the field who don't want to stand up to what has made america great they're going to take a heckuva hit with people buying tickets. and the people trying to shop to these games. the other employees that work there that depend on that money. they don't take too much of a hit because it will negatively impact them. they only way out for them is susceptible that you cannot kneel during the national anthem.
and yet you're not allowed to kneel and pray on the field either. they need to throw flag on this. i think that as a point that the president is trying to make the in a game that is throwing the flags for every reason why not for not sitting at standing up for the national anthem. >> will your colleagues fall you out the door. i don't know. i did this for myself.
welcome back good wednesday morning everybody. i think you so much for joining us. it is wednesday september 27. for coming to you live in from washington dc this morning was with special covert as the white house prepares to unveil the tax reform plan. 8:00 a.m. on the east coast. a historic tax cut coming. is it ministration prepares to release the major reform plants plans later today. orin hatch weighed in with me in the last hour. they wanted a 15%. we can't get at that low. but if we can get it down to
the low 20s we will be doing a very good job. the commander in chief will travel to indiana later today. we are taking you live to indiana. we are breaking down all of the numbers of the tax plan this morning. investors are watching in the development from our nation's capital. the futures indicating a higher open for the broader averages. in europe there is a firmer tone there and as well. and there up half of percent. in asia overnight markets closed mixed as you see here with the winners in hong kong and in china. rising tensions meanwhile with north korea. cnn is reporting that the regime has moved a number of fighter jets in missiles to a base on the eastern coast. it comes after president trump warned any military response would be devastating for north korea. a change in alabama.
what in the wind means for the party in the white house coming up. and devastation in puerto rico. as a territory looks recover president trump said he will travel there next week the very latest on recovery act for its plus, hashtag change. twitter is planning to double down on tweets literally. and then fixer-upper fans all of the stories coming up this morning and here to break it all down for you. global economic editor. good to see everybody. at that we made some news there. for sure. we will get into that.
texas sender ted cruz is here for us this morning. the washington congress woman. country music star clint black is with us. a big show i have. do see with us this morning. and we kick it up right here being dead. next on the agenda will be tax reform. this is president trump is set to roll out some of the details in indiana today. blake burman with the very latest right now at the white house. president trump well had to indiana this afternoon to unveil the first batch of tax reform details. according to people who i had spoken with outside of the white house who have been briefed on the framework and the details you can expect the corporate tax rate of 20% a small business rate of up to 25% and on the individual side brackets of 1225 and 35 percent.
they are backing the bill and trying to make the point here. essentially twofold on the one hand they say this is all about making businesses competitive for the rest of the world. while also they say they want to provide and focus on middle-class tax relief. we will cut taxes tremendously for the middle class. not just a little bit but tremendously. and increasing the child tax credit. families really want and have been talking about it for a long time. as the president hits the road to indiana. the chances for health care reform this might have hit the road as well. the grand cassidy grant cassidy bill does not have a vote in the senate. and now they have pulled that bill from there. just a little while ago. president trump insisted though at some point here in the future there will be a vote on healthcare.
there was a loss of a different kind. politically at least for this president that happened last in alabama as the primary senate race there. lost two roy moore. he was backed by the president in mitch mcconnell as well. moore has run that primary and out goes off to face doug jones in december. back to you. blake, i think you back to you. try to meet right now is house republican conference chair. good to see. thank you so much for joining us. the tax framework is leaving. you guys canceled all votes today. see you can go and take a look at all of the details of this plan and talk it out. what are you expecting to do today.
to spend some time. getting the details of the tax plan. they will be walking us through all of the details. the ways and means committee has been spending hours, days working through this in preparation for the release. but now we want the members to be able to ask all those detailed questions because it's been the big six that have been negotiating it. notice time for the members to be brought up this bead. as it becomes a public. the as a platform. where they can get all of the details. the gap as they can put as much as they possibly can there. and that can help spread the great news and weigh in. this is a very different catch
that you're taking. now you have a detail and a plan. and you're all going to weigh in on monday so that you don't have to say that. we learned some painful lessons. and we are elected here to do big things. as you think about tax reform and bringing down tax rates. that is the best thing we can do to get our economy growing and give people more opportunities and jobs. and more take-home pay. >> i want to ask about whether the debate will be there. the president just tweeted this. with one yes vote in hospital and very positive signs from alaska to others. we have the healthcare vote. we will have the vote for health care but not for the
reconciliation deadline of friday. be careful what you wish for. when you are the minority you can get rolled over. do you think you have the healthcare vote. we need the senate to act. we continue to hear that the premiums are going up. their deductibles and co-pays are so high $5,000 deductibles. you might as well not have health insurance. it's too costly to go see the dr. even when i need to go see the dr.. absolutely because it's too important.
it's never over. we know that. they didn't have the votes to pass. the fight is far from over. watch this we have to get your action. to my republican colleagues we are going to fulfill our promise to repeal and replace to the american people we are going to improve health healthcare for you because at the end of the day the only promise that matters. when i could to be able to do that this week. it's time to turn to our twin priority. your party has campaigned for seven years. we have to repeal and replace obama care. >> i think the house has always said we would do a tax reform in the fall.
congress we can do more than one thing at a time. i believe the senate continues to work on healthcare. they must continue to work on healthcare. but we are going all in on tax reform right now. down the tax rates. improving take-home pay. the house and the senate and the white house have this outline that has been put together. and now is the time to focus on tax reform. i said to your colleague. are you getting bullied again. because here we have once again the situation if you eliminate the deduction that you actually get to see higher taxes for the highest earners. it's been if you say it's just tax rates for the rich. one show.
>> this is about tax reform. we had have the lowest work force participation rate since 1979. a job is what gives you opportunity. don't get caught up in that tired narrative. lookout will impact your life as an opportunity to get a job. you can stay for college. how much pressure do you feel to get this done. a lot of people are saying if you can't get this done after what we've seen in healthcare you will lose the majority
next year. we were elected to do the big things. that's why i ran for office. there is a sense of urgency. we've not gotten enough on that president's desk. we need to get this done. absolutely. we need people to get jobs and opportunities that everybody has. tell us your role specifically. we have we've a video put together. my role is this retreat today getting our members informed.
you're going to be going there in about an hour. how long will you be there. is this an all day thing. we will spend the morning going through the details. mike pence is coming to be our luncheon speaker. more of a press conference. you want to make sure that america knows the details also. we will all be stayed tuned with the president addresses the country at 3:00 p.m. today. this really is an effort to make sure that we are on the same page so that we can celebrate where we are. judgment day is here. here we go. it's good to see. we will be watching. foxbusiness network is taking it live it to the president's speech today.
join us and stay with foxbusiness network. to hear the president's comments direct. an alert in afghanistan. the new security concerns there. this is the new new york. we are building new airports all across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today. learn more at esd.ny.gov ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone
when we love someone, we want to do right by them. what is this? (chuckling) but habits are hard to break. honey, where are the habaneros? and then there are things we can't control, like snoring. (loud snoring) now the answer is right under your nose. introducing theravent anti-snore strips, clinically shown to reduce snoring with the power of your own breathing. nice try! there are always things that are hard to let go of. now snoring isn't one of them. theravent. the answer is right under your nose. maria: defense secretary james mattis of the the target of a terrorist rocket attempt. less than two hours after he
arrived 40 to 45 rockets luckily he have artie left on already left on a helicopter to attend a meeting with the president. the taliban claimed responsibility for the attack. they're also claiming response ability for that attack. president trump's can visit puerto rico next week. i would like to take a moment i had directed all relative apartments and agencies to assist in the response in recovery effort. i will be going to puerto rico on tuesday the nation has been tested by the destructive force of mother nature but we will respond to it with an even --dash -- and even
mightier force. the resolve of the american spirit meanwhile rapper pitbull sending his private jet to transport u.s. cancer patients to the mainland. cuban by providing the team of planes. he was born in puerto rico. they are stopping at service. the minimum training for drivers . the higher level patches at the role for the taxi drivers there but this is a second setback for uber's operation. earlier this week london refuse to renew the company's license. better news for uber's rival left. the two well drive test driving cars.
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welcome back. north korea is now moving a small number of fighter jets fuel tanks and missiles into an airfield on the country's eastern coast. this is according to cnn. it boosts its boost its military readiness. present trump crazed countries supporting the sections against sanctions against north korea yesterday at the white house. i have recently issued tough new sanctions against those who do business with us regime. i applaud the latest action.
and in particular we applaud china for breaking off all banking relationships. the new u.s. sanctions target eight north korean banks and 26 bankers living abroad. how effective will these sanctions be. there is always a concern about his talk of the sanctions sanctions going to be enough. i think the likelier question or at least the factor that would be most helpful when it comes to changing his conduct is what the chinese are up to. they are in fact starting to step up their game that is a very good sign. that's why i think he saw president trump their specifically calling out and taking the chinese for making this pivot because it seems like he has the prime minister
over there who has been very concerned. his is speaking out very strongly. then you have another regional power almost a superpower in china really slapping harder and north korea that is potentially a game changer. rex tillerson is headed to beijing tomorrow. twelve guys point. unless it hits chinese companies. the north koreans have become very sophisticated in making these regimes as well. that's why it's very important. the other thing i say which doesn't relate to sanctions why are we hearing more about missile defense.
the koreans are shooting missiles over japan. why are they shooting these things out why down why they are going over their borders. israel has this thing called iron dome. which knockdown something like 90% of these missiles coming in for the palestinian territory. it seems to me that the united states and its allies should be pouring all of the research is -- and the the resources of the can. he wonder if it will impact the u.s. economy in terms of the sanctions if we were to see essentially a chinese bank for example. your thoughts on all of this. to john's point that japan for example in terms of a different offense so the major increase. i thought it was a hundred 60 million-dollar and record budget request for a longer range missiles it was the double digit increase there. so you are seen action on that front in addition test taking
action against china in terms of sanctions we really need the world to come together and do something knowing that the ultimate success in raining and north korea will be through sanctions on china. that's what works with iran. you have them going in with sanctions. let me switch gears does very quickly. we will talk with ted cruz on the other side of the break coming up. what he wanted from him. generally a strong commitment that they're actually going to accomplish this. i think they are a little spooked about what happened with healthcare and they don't want to get out over their skis but i hope the entire party recognizes that having failed at health healthcare and broken that promise so far if they punt or blow it on tax reform as well politically they are enormous trouble. it does seem like this is going to get done though. they have to get something done. the only question is how
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when it comes to reducing the evsugar in your family's dietom. coke, dr. pepper, and pepsi hear you and we're working together to do just that. bringing you more great tasting beverages with less sugar or no sugar at all. smaller portion sizes, clear calorie labels, and reminders to think balance. because we know mom wants what's best. more beverage choices, smaller portions, less sugar. balanceus.org maria: welcome back. good wednesday morning, everybody. thanks for joining us.
i maria bartiromo. wednesday, september 27th at our nation's capitol open wait for the tax plan to be revealed. top stories at the per diem and east coast. president trump is set to unveil its overhaul this afternoon in indiana. it will include a corporate rate to 20%, making the pasta rate down to 25%. the individual rate could be 12, 25 and 35, but could go as high as 37% to 39% for highest earners. orin hatch joined earlier inside corporate america needs to get involved. the mac both democrats and republicans and say we are tired of this. we wanted to businesses in the united states of america and you guys hold the key. what's so tough about that? trying to turn the conversation coming out. texas senator ted cruz is here. tune into the fox business network this afternoon beginning at 3:00 p.m. eastern. we'll take you live.
plus this, judge roy moore pulling off the victory in the alabama senate runoff defeating sitting senator luther strange was backed by president trump. the fallout coming out. cleanup from hurricane hervey has been one month since the storm made landfall in texas and houston residents of picking up the pieces. stars coming together, celebrities to those in need and tickets go on sale for a harvey benefit concert produced a country star clint lack. i will speak with him coming up you coming up into business impact impact of the nfl. directv now offering refunds to some sunday ticket customers offended by players taken in need. people want their money back. twitter dublin appeared the company catering to user demands and testing 35280 characters. markets this morning awaiting the president's comments on tax reform higher. no industrials at the height of the morning with a gain of 30 points at the open.
the nasdaq of the quarter of a percent 16 points higher. durable good reports at 1.7% for the last month on durable goods orders. that was better than expected. that's a positive here. the major indices look like this this morning higher across the board. european indices up a third of a percent. the dax in germany up almost half of 1%. asia overnight stocks mixed as you see here at the close. our top story for tax reform. president trump will travel to indiana democratic senator joe donnelly. after the light has unveiled its plan. former presidential candidate, texas senator ted cruz and senator cruz, wonderful to have you on the program. thank you for joining us. tell us about the tax plan as you know it. what would you like to see today? what do you think is realistic? >> welcome will find out details later today. details today are encouraging. the principles that should
govern tax reform our growth, fairness and simplicity. number one should be growth. the focus should be jobs and economic growth and there's a lot of elements we are hearing that are encouraging in that regard. maria: what gets you there? is 20% corporate tax a good news, 20% pass-through good news? will you go for that? >> i would like to see those rates lower. i would like to see one simple flat tax. yesterday came running out in the presidential race, what i've encourage my colleagues to go. if we don't have the votes to go firm seven raise to three is a positive step. three to two is even better, two to one is even better. simplicity and being low is important. i also think for individuals can have been able to fill out your taxes on a postcard has a powerful, powerful impact of simplicity. we spend 9 billion hours a year in tax compliance.
that's an easy save. but i'll tell you one of the first questions we will debate in congress and with the administration is how big of a tax cut are we talking about? this matters. it is to be a a tax cut, unapologetic tax cut for the serious tax-cut induced first reason if you want to see reagan era economic growth, booming gdp, small business growing coming you've got to have reagan style tax cuts, real tax cuts. not just deficit neutral nt one bucket and filling another. you've got to have a real tax cut on small businesses, job producers, working families. train to within talking about this morning. i'm glad you set unapologetic. i said to one of your colleagues in the house who got bullied again. you keep getting bullied by the left. we need to be the big headline from the left would be this is a tax cut for the rich. and yet now without the highest rate would be 35%, now there is
a buzz in the air and that a millionaire's tax or to take the highest earners at 239%. would you vote no on that? >> we will have extensive negotiations and we are not close to this passing. it will take a couple months to hatch out and get consensus. we will get it done. we've got to get it done. but it will take some time. this is being unveiled. this is one proposal. in the senate with a very narrow majority. 52 republicans. we've got to get at least 60 to support it. there is going to be a lot of give-and-take. if we focus on growth, simplicity, fairness, that's how we get 50 together. >> to bury this point, the republican party, the republican party has, the republican party sent out, the republican party sent out to about three tax brackets. but when it comes out today will save three tax brackets, but maybe a fourth with the highest earning households. can you get behind attacks playing with for brackets instead of three? >> i'm not going to engage in
debating hypotheticals. there will be all sorts of proposals and i think it's a bad idea for anyone to begin by drawing lines in the standards that will support tax refund unless xyz. whatever passes at the end of the day will be less than 100% of what everyone wants. that is just the nature of particularly a narrow majority. but the direction i have been pushing and will continue to push is bold and simple. that we can really have an enormous and back. let me give you an example. one of the most progrowth reforms that can be included in tax reform is immediate expensing of capital expenditures, when businesses spend money come when a farmer spends money to buy a tractor he can express that immediately instead depreciated over years. it's a huge idea. >> a massive idea appeared massive idea. >> when a steel factory builds or buys the equipment to hire new workers, immediately expensing is an enormous incentive for dollars spent here
to create heavy manufacturing jobs, to create jobs, the kind of blue-collar jobs that have been the backbone of the american economy for decades. that is a big deal. i think it is important to have it in there. that debate is going back and forth. since he is a trade-off between expensing them lowering the corporate rate. you get, for example, folks in the financial services sector, some obviously don't worry about expensing. that makes sense in financial services we're not having big capital expenditures on equipment. but not for a farmer. not for a rancher. not for the men and women who elected donald trump. the answer i agree lowering the corporate rate is make it a real tax cut, really unleash the economy and we can see tremendous results. >> senator, we just blew past him and not on the go $20 billion national debt.
folks in this town, a lot of democrats all of a sudden talking about deficits. conservatives are concerned about deficits. are you willing to go big on tax cuts even if it's not deficit neutral? >> absolutely. this is critical. if it's not deficit news show, it's not a tax cut. the way washington scores tax cuts come a day consistently underestimate the economic growth impact of tax cuts. that's exactly right. one of the reasons i'm such a passionate advocate for a big serious tax-cut is because i'm very worried about the deficit and debt. the only way we will turn it around as economic growth. there is no way congress is going to find it in the backbone to cut enough to get out of the bed. it's not going after the democrats. not quite happen with republicans. the only way we get out of the hole we dug ourselves is getting out of the anemic obama air 1%
2% growth, getting back to robust three, four, 5% gdp growth. that generates so much revenue that that is how you end up paying down the deficit. trade do you think you are revenue neutral because growth will happen? >> that's exactly right. if we want to start paying down the debt, the only way to do it, you know, since world w i our economy has gro 3.2% a year from 28 to tay i has grown 1.2% a year. this is dismal. mr. boll and a lot of people in washington except this is the new normal. now we grow 1% to 2% a year. prior to obama, the last four years. you have economic growth less than 1% was 1978-1882, jimmy carter coming out of the same failed economic policies had wanted reagan to an 81? came in at the major tax cut from a major regulatory reform. the economy took off.
do you know a gdp growth was in 84? 722. those were china level numbers. nobody's even imagining that's possible. reagan produced any bids that because he wasn't scared of his own shadow. the democrats a demagogue and one in a cut for the rich. under ronald reagan, working men and women come in their wages when it appeared under ronald reagan come, african-americans saw significant increases in their annual in them. hispanics saw significant increases. if you want people to ride the economic ladder, you need the economy growing and small businesses going. they tax cuts the way to do it. maria: kobold. >> he used the word dismal to the economists who say we can't get to 3% growth because the population is aging and product dignity is very low. what do you say to those people who save the environment now isn't what it was in the 1980s when inflation was coming down
in interest rates are coming down and coming. maria: you know, to quote a voice from the past, they are nattering nabobs of negative. i think they don't know what they are talking about. every voice in washington who says except mediocrity, except that we have to become like much of europe,.net, state socialism is utter nonsense. this economy we can unleash incredible growth. but the cutest small business -- washington focuses so much on the big guys come in the major companies and lobbyists. best to a stroke in this town. also usually care about. the little guy, small businesses as two thirds of all new jobs and the economy come from small business. trained to do like that rate? >> is a step in the right direction. i will keep pushing for more, simpler, stronger, better.
one important piece to have as part of this debate is we should use tax reform as the opportunity also to repeal dodd-frank. democrats will filibuster any attempt to do so, which means the only possibility of repealing dodd-frank is doing it on budget reconciliation. attach it to tax reform. and the reason that matters, as you know, dodd-frank has decimated the smaller banks, community banks, credit unions. >> that's why you've got 1% growth. maria: would you care about small businesses. my capital, less regulations, less taxes and getting rid of dodd-frank would help fuel. we would have a different conversation one year, two year from now. maria: by the way, the dems will attach an infrastructure plan to this. health care. you've been trying to get to this. are you a yes? >> i am a yes on repealing obamacare.
maria: i know that. >> right now graham-cassidy has been pulled. i don't know what the vehicle is going to be, but we have to get this done. we have to honor promised to repeal obamacare and i'm spending every waking moment on obamacare and tax reform trying to unite republicans. maria: senator ted cruz, that is why we love you. thank you for joining us. we'll be right back.
maria: welcome back. twitter testing a big change from a doubling of her of characters in one trade that in the stock higher. nicole petallides on the floor of the new york stock exchange. >> good morning, maria. is this what it's going to do it for twitter? zero user group added over the summer. two years of rebuilding revenue growth. the stock was up 1.5%. 280 characters is double the amount of the 140. turns out in japan the language. english users are quite restricted.
they will take small amount of random twitter users around the world for less than 9% and maybe 1% and give them a try. no word on whether or not donald trump will be one of the ones testing it out. moving over to directv turns out we talk about the national anthem protest. we saw this job to a new low yesterday a three by 5% lower and not talking about refund the money. the premier package for football is $280 a season brings at $1.5 billion in revenue in licensing revenue. it is a major, major catch for the viewers. they are now offering some customers are refined a few sites that you are upset with the national anthem protests. interestingly enough, pittsburgh steelers player who served in afghanistan, his jersey window number one, the one who actually stood up for the national anthem. so much controversy, rea.
maria: charisse pinnacle on the floor of the exchange this morning. we'll check back as things develop. let's get through, come up with a host of "varney & company" at the top of the hour. good morning. >> good morning, maria. you know what i want to talk about. true to guess, i do. >> you want to tell the audience first or shall i. trade do you want to hear about tax reform and tax cuts. >> i will talk about one particular thing of the aspect. maria: the highest earners in the millionaire's tax? >> let's tell everybody was going on here. there is a proposal that there will be an even higher your tax rate for individuals who make a real lot of money. a new and higher tax rate in a taxcutting package. i guess this is what is required if you want to attract any democrat votes. you tax the rich even more in
order to get a tax package. maria: you could say it that way or you could say this is what you get when you give a lay by the shaming on the left. >> yes, that too. this is what you get when you got high principled politicians against the republican party can't agree to any compromise and lose everything in the process. maria: gap. orin hatch just told us to the top 5% of the earners pay 70% of attacks. >> is right. if you now have a new and higher tax on upper income earners and if you get rid of the deduction for state and local taxes, you will have an even smaller band of rich people who will pay for everything. that is not healthy. that is what got california into trouble 10 years ago because all taxation is based on the tiny fraction of upper income earners. when they go down, the whole state goes down. maria: listen, i'm fired up
about it. watching you in 10 minutes. thank you so much. guardian company begins at the top of the hour to talk more about that. helping houston in the wake of hurricane harvey. back in a minute. this is the new new york. we are building new airports all across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today. learn more at esd.ny.gov
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texan master behind helping texans concert, quit life. great to have you on the show today. thank you for being here. >> thank you for your help. maria: what can we expect from this concert? >> he will be a really great show. we are still working on the details of it. it is starting off really great. maria: you have been the driving force behind this, planning the hurricane benefit. what was that like to set up the concert? tell us the challenges and how you did it. >> well, i started off with calling one of the coolest and most philanthropic people i know in texas, advanced along with ed and sasha macho. we put together the lineup. they happen to be at a lyle lovett concert when i called them, so they had him up first thing after the show and he was
in and we all know don henley, the most famous texan in the bunch so we reached out to don and they'll quickly agreed. maria: how about for you personally, how tough was the destruction in texas? >> well, i think we all know somebody. my family was lucky, but my extended family was not. it is hard to watch, even if you don't know someone involved. maria: clint, thank you so much are joining us this morning. thanks for all your effort. >> bass hall.com if anyone can help out. maria: thank you so much good will go. clint black joining us. final thoughts from the all-star panel coming up. stay with us. ♪
maria: what a show today. final thoughts right now. >> one thing that stuck out to me for senator cruz. he said on tax reform they are not really that close to getting this done. it could be months of a lot of negotiations still to come. that makes a little jittery. maria: especially after what we saw with health care. >> we said this at all your
great guest today. a lot of trade-offs and pushing and pulling over the next few ka physical way, how this affects the deficits. there's a long road ahead. maria: dagen mcdowell, final word. dagen: mr. crews come if you cared about small business owner you would repeal the bono care. where is that? maria: have a great day, everybody. here is "varney & company." stuart: yes, dagen, yes, yes, yes. long live tax reform. this is the day the big tax plan is to be revealed. good morning, everyone. today we have a very act of political thing. along with the tax packages, middle income people to pay less. big companies to pay a lot less. top income earners may pay more. yes, there may be a new hire rate above