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tv   After the Bell  FOX Business  October 5, 2017 4:00pm-5:00pm EDT

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we are about ready for the market to close. as we finish the markets. [closing bell rings. guess what, david asman, melissa francis will have it all for you, "after the bell." melissa: all right. david: it is a huge day on wall street as stocks respond to news of a budget passed by the house inside of the beltway. looks like 114, may go up higher as it heads into the ultimate close. this is the fourth straight record close. s&p and nasdaq continue the record streaks as well. a great day for your money. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have more on market movers but here is what we're covering in the busy hour ahead. the house passing a major hurdle paving the way for historic tax reform. paul ryan speaking at a manufacturing plant.
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national association of manufacturers was at the event and will join us later this hour. new details surfacing about the las vegas gunman. officials say he may not have acted alone. authorities seeking the identity of a woman seen with him days before the mass shooting. puerto rican bonds tumbling, when the president said the island's massive debt should be wiped out. the white house budget director says the president would not be literal. there will be no bailout. coming up we have the governor of port reeks coable to respond. david: we need to hear from him. new record highs for all major averages. let's go straight to nicole petallides on floor of new york stock exchange. i set it up, nicole. investors were happy about progress toward tax reform. is that what is buoying the market? >> we're closer to having tax
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reform and americans and businesses benefit in a way easier, bern official to them in tax reform that boosts the market ultimately. you call it the trump trade, whatever you want. things are looking better. financial index higher than in decades. look at dow, nasdaq zap. we're seeing all-time records. s&p 500 up more than 4% since trump. 19% since the election. best-of-three indices. movers talking about, netflix raising prices. they want to boost revenue. they paid out $16 billion for original content. you will have to pay a tiny bit more, folks. the basic plan stays the same. 7.99 stays the same. basic plan goes up about a dollar. we saw netflix jumping up about 5 1/2%. then amazon, let's take a look.
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fedex, ups, watch out because amazon might be stepping on your toes. you and i know they're working to get their own delivery service out there. they will move have somewhat of a third party delivery company to step on the toes of those delivery guys. david: fedex ended up a bit while ups was down. keep it up, nicole. we like the work you're doing. the trump administration vowing to take any steps necessary to prevent another attack like the one in las vegas. fox business's blake burman is at the white house with the very latest on this hi, there, blake. reporter: david, national rifle association and trump administration this day leaving open possibility of taking up the issue of bump stocks. that seemingly the ability to take a semiautomatic gun, turn it into an automatic gun which is what the shooter sunday night in las vegas did with the rapid fire succession of bullets. the nra put out a statement today saying, i quote in part,
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the nra believes that devices to allow semiautomatic rifles to function like fully automatic rifles should be subject to additional regulations. additional regulations is the key, that stopped short of the nra open to a ban. at the press briefing press secretary sarah sanders was asked several questions about this and she did not say the administration has a defined position on this issue at this point but to say they are clearly open to a conversation. >> we know that both members of the both parties in multiple organizations are planning to take a look at bump stocks and related devices. we certainly welcome that. would like to be part of that conversation. we would want to see a clear understanding of the facts. reporter: the white house continue todd back away from the president's comesments on entirely separate issue on tuesday when he suggested there is possibility of simply wiping
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away 72 plus billion dollars of the to rican debt. sanders says there is a a ses to -- a process to deal with the problem and that led me to ask sanders this question? you said with the debt there is a process in place and that the process will play out. does that mean the president's comments of simply wiping away the debt is no longer on the table? >> the president wants that to go through the process and that is the stage we are in. reporter: the process is the in place and that should guide going forward, clearly different from the president's stance 48 hours ago. the issue for puerto rico is not on the financial woes there. rather than trying to get the folks on the ground the help they so badly need. david: guess what? we'll clarify everything about puerto rico in just a moment. we have the governor of puerto rico here in this hour. you want to stay tuned for that. blake, thank you very much. melissa. melissa: laying the groundwork
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for tax reform, house speaker paul ryan takes questions moments ago at a manufacturing plant in chestertown, maryland, this after lawmakers made a critical move toward tax reform passing their budget plan for the next fiscal year. our own adam shapiro is live in d.c. with the latest. adam? reporter: let me give you the timeline. we've created a full screen to show you some things that take place as we move towards tax reform. now that the house passed its 2018 budget resolution. the senate has to pass its 2018 budget resolution. that will happen in next two weeks. there has to be a conference committee. they have to hash out differences between the two budget resolutions. the both house chambers have to pass the 2018 budget resolution after that. after that we can have tax reform. brady will not release details of the public until we have the
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2018 budget resolution in place. timeline on that, most likely the end of october, early november. so already democrats are taking swipes at what is developing despite not having the details. for instance we know that there is is the proposal to repeal the deduction for state and local taxes. well, senator chuck schumer actually just within the last two hours came out against this, pointing out it is not just new york and california, high-taxed states which are democratic states, that will stand to lose, it is places like georgia and utah where more than 1/3 of tax-filers will also take a hit as schumer says, if they repeal the deduction for state and local taxes. here is senator schumer talking about that. >> we want to work with you on tax reform, on a rational bill that helps the middle class, doesn't give tax breaks for the wealthy and doesn't blow a hole in our deficit. get rid of the idea of eliminating the state and local deductibility. you will never move a bill given how many taxpayers it affects
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throughout the nation. reporter: so what the democrats are doing is trying to rattle their colleagues, whether in the house or senate in states which tend to vote republican, that you stand to lose come re-election if you repeal the deduction for state and local taxes. republicans counter, why should wealthy states like new york and california, why should they be subsidized by poorer states like alabama and mississippi? we're going to stay tuned see what happens next on this one. melissa: yeah, shocking to see chuck schumer come out to advocate against that, adam. shocking. thanks for the report. david: sarcasm doesn't work on television, melissa. melissa: yes it does. they know. david: scott martin, kings views asset management and robert wolf, in addition to fox news contributor you're a democrat who favors tax cuts. we love those democrats but no democrat voted for what happened with the budget passed today in the house.
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will any democrats vote for any tax cuts and if so which ones? >> first that was incredibly conservative budget. you had 18 or 19 republicans not vote for it. david: some of them, because it wasn't conservative enough. >> i guarranty this will not be what the senate approves. this is a very conservative, by the way, i don't mind some of it. it is fiscally conservative. revenue now trillion. david: let me stick on tax cuts. will any democrats vote for any tax cuts and if so which ones? >> earned income credit for families. middle class tax cuts. absolutely. what they are not going to look at when it benefits the top 1%. i think the state exemption is going to be a nonstarter because i think it also impacts wisconsin, ohio. david: what about corporate taxes any democrats? >> i think democrats are fully supportive. i'm not sure 20% works. i think repatriation will have some hurdles.
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at end of the day what you cut out. today's conservative tax budget cut out, medicare, medicaid. this budget is not going to be passed. david: scott, again i want to focus on taxes, that did pass in the house, and market was buoyed by the passage clearly. that is one of the reasons the market was up. the dow was up over 100 points today, right? >> i mean the market has been really encouraged, david bit progress we've made in the last 30 days worthy of some praise because think about it. we had this dearth of progress for the last five months after trump announced phenomenal tax plan in february that never came to be. i agree with robert, there are contentious issues in this budget that are probably nonstarters, but respect to the key points 20% may be too low but some improvement -- david: we're talking to management, the association of manufacturers in just a moment about how much the economy would
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grow if it got that but, scott, isn't the market now betting on some kind of tax cut? that seems to be what's happening? >> it is, david, but i'll tell you what else the market realizes we have a president unique for his care of the business community. gone are the days of you didn't build that. david: right. >> that is why the s&p go up day after day despite economic data because they know the future is bright. david: scott, robert. good stuff. appreciate it. melissa. melissa: speaker paul ryan selling the republican tax plan at a maryland manufacturing plant moments ago. coming up the head of the american manufacturing association will tell us how this tax reform will help american businesses. david: plus new details on the gunman behind sunday's mass shooting. reports he may have scoped out other concerts first, and the big question, did he act alone? what we now know about a woman who was seen with him just days before.
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melissa: and the gun debate continues over regulating these so-called bump stocks, that turn semiautomatic weapons into automatic ones. the white house and the nra will be open to discussion. how will congress respond? >> i think this administration's position is extremely clear. we would look taking any step we could preventing something like this from happening again. ♪ to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird. ♪ 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 copdso to breathe better,athe.
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david: breaking news about changes in congress. republican congressman tim murphy of pennsylvania will apparently resign from congress following a report this week that he urged a bomb he was allegedly having an affair with to have an abortion, and he is anti-abortion, he is pro-life. speaker paul ryan confirming he
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received a letter of resignation from murphy effective, october 21st, it is murphy's decision to move on in the next chapter of his life and he supports it. melissa. melissa: desperately seeking a motive. authorities are still trying to figure out why stephen paddock fired down at the mandalay bay hotel room on innocent concertgoers. authorities are questioning whether he had the ability to carry out this attack alone. hillary vaughn is live from las vegas. what new information are you finding out at this hour? reporter: the clark county sheriff, doubts that stephen paddock was acting on his own. there has to be someone else involved. they're looking for and a accomplice and anyone that knew about the plans before they happened. nbc reporting that investigators are looking for a mystery woman spotted with paddock in the days leading up to the attack.
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paddock's girlfriend, marilou danley remains a person of interest after wrapping up a six-hour interview with the fbi yesterday. she said in a statement, when paddock gave her a last minute ticket to the philippines and sent her $100,000. she didn't think he was planning a mass murder instead. she said she thought he was breaking up with her. police are looking into whether paddock planned or targeted other music festivals across the country. officials in chicago looking into reports that paddock could have been eyeing their city. he rented a hotel room with a bird's-eye view of one other major music test val in vegas called, life is beautiful. chicago police are looking into reports that paddock booked rooms in the blackstone hotel over looking the chicago music festival lollapalooza in august. the hotel confirmed there was a reservation under the name
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stephen paddock but they tell fox news they don't believe it is the same stephen paddock according to intel they have. there is report that paddock searched for hotel rooms near fenway park where the red sox play. the fbi is looking into this. the fbi looking into a statement saying in part, any possible nexus to boston discovered during the on going investigation has and will be immediately briefed to the boston police department. authorities are trying it figure out what triggered mass murderer stephen paddock. they're looking into the month of october 2016, that is when they say he started to ramp up to build up his arsenal of weapons. melissa. melissa: wow that is a lot of information. thank you, hillary for that. david: it is. let's build on that information. for reaction we turn to bill daly, former fbi investigator and aaron cohen, former israeli special operations member. i want to go to you first, a lot of profiling stuff, the work they're trying to do right now. what do you think about and a
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accomplice. do you think he acted alone or with somebody else? >> i wouldn't be surprised if he acted with somebody else and in the chaos -- my gut feeling, my gut feeling here, going based on watching sheriff lombardo who i think has done an outstanding job delivering information. david: he has. >> speaking from his gut being honest. i'm watching him deliver his pressers. i'm looking at his body language, not only being honest and coming from his gut i believe what he is saying. i don't know if he letting things come out which he may have heard but -- david: a ron, he said, the sheriff specifically said he would be surprised if this guy hadn't received help. do you think he is right? >> i agree. i would be surprised if this guy hadn't received help. i believe, my instincts telling me based on what i have seen, in the event of the response, with the amount of chaos that transpired due to the massacre, there could have been other
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gunmen or accomplices or people who helped him get away. that will come out. david: talk about somebody very close to him, his girlfriend. the fbi spent many hours yesterday interrogating her, but the girlfriend is clearly a liar. if the reports are true, that she was married simultaneously to two men while she had this guy as her boyfriend, she is a liar. how can the fbi use the information from a liar? >> well, david, first of all, these inconsistencies sometimes people provide, whether because they're trying to cover something, whether they are nervous, whatever happens to be, there ways that the bureau through investigative techniques, and through further interviews will be able to use that to exploit to find out exactly what's happened. i think in this case we may say, okay, she was disingonous telling complex inconsistencies but you know what? these are ways investigators can go back to have another sit-down with her. this is not over as far as them
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interviewing her. david: bill, i assume they will double the information they have, use information they have from his computer and other electronic devices that they have gone over carefully, and compare that with their interviews with her, and together come up with some answer about his motive? >> exactly, david. this is one of these cases we all want an answer. we want an answer quick. unfortunately not whether somebody published a manifesto or gone online posted allegiance to isis, some other group around the world. this is slow peel back of an onion. we'll get there. it is composite together with various people. david: aaron, it seems clear he scouted out two other venues. we're getting breaking information that the chicago police confirmed he had booked, he, this same gunman with the same name booked a reservation at a hotel another venue close to have a festival was happening. so what does that tell you, the fact that he scouted out,
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perhaps one, or two other venues? >> tells me was committed going after a large crowd. he was looking at soft targets. that was part of his initial plan. he wanted to do as much damage as possible in shortest period of time with maximum amount of weaponry. to go back to your gentleman made an excellent point before about interviewing the girlfriend, the type of interviewing the fbi is likely doing right now, important to realize that 70, 75% of communication we do is non-verbal and this woman, if she is not telling the truth the fbi would be trained picking up the non-verbal cues which would extend the investigation as long as it needs to go. we use same profiling recruiting potential assets to stop terrorist attacks amongst the terrorist community and we also deploy our women at el al and our security hubs around the world for israeli airline because they're masters identifying lies and predicting behavior. david: got you. >> so i believe there is something very specific that
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we're going to see looked at with this woman and that non-behavioral communicating hopefully will start bringing -- david: gentlemen, i have to cut you off. we have breaking news. bill, aaron. thank you very much. melissa. melissa: costco reporting fourth quarter results. let's go back to nicole petallides with the numbers. >> a beat on revenue and earnings per share. that is good news for costco. you see the down arrow like i do. started with up arrows when it broke. up eight out of last 10 quarters, beat earnings per share today, but interesting enough the stock turned down 1 1/2%. it is coming off the lows, paring those losses. they call comp sales on rise, up 6% for comp sales. there were high hopes from loyalty of members as well as a few other things including traffic in the stores. that costco is one of the stores, i guess you could put walmart in there, can still take on amazon in a certain way
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because they have a treasure hunt appeal. you go into the store, where you poke around get great buys but ultimately a beat. we're seeing to the downside. must be something in there, maybe an outlook or little weaker-than-expected. we'll look into it. back to you guys. melissa: thanks so much, nicole. david: puerto rico, texas, part of caribbean struggling. now a major storm expected to hit the gulf. we're tracking that storm coming up. melissa: how is puerto rico dealing with the recovery effort? we'll ask puerto rico's governor, ricardo rossello, after the break. >> from the beginning this governor did not play politics. he didn't play it at all. he was saying it like it was, he was giving us the highest grades. on behalf of our country i want to thank you. ♪ investors even more value.
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melissa: more than two weeks since hurricane maria hit the island of puerto rico. its government is pleading for federal assistance. the u.s. territory's government estimated the storm caused at least $90 billion in damage. amid reports that the island is already in a huge amount of debt, we know that. the white house walking back comments from the president saying it will all be wiped out. joining me on the phone, governor ricardo rossello of puerto rico. thank you so much for joining us. you know, i want to start with first of all, how you guys are doing before we get to the situation of the debt, to ask how you are doing? there are a lot of people here in the u.s. who have raised, whether it is money or getting supplies like diapers and things you need together. they're having a hard time getting it to the island. do you have anything, any updates for them? >> yes. well, thank you for the opportunity first. of course for your thoughts and prayers. yes, we are starting to get a
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lot more shipments into puerto rico. we were limited by the air traffic control and of course the flow through the ports which were somewhat disrupted during the storm. so, anybody and everyone that wants to give to puerto rico, whether donations, they can go to united for puerto rico.com. if they need some low gistal support to any article of need to puerto rico call 202-800- 202-800-3134. melissa: is there fedex or mail or anything coming to the island or people using other ways of shipping things? >> yes. as a matter of fact i'm right now in the fedex terminal here and things are flowing in, and the pits burke pirates came as -- pittsburgh pirates came as organization to bring water supplies. we're receiving them i it is working so people can use those.
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melissa: that is great news. moving on to the issue of the debt, obviously that is a huge news story around here. a lot of people making the argument a lot of electrical and energy infrastructure that wasn't working even before the storm. that it is you know a bankrupt government that was deeply in debt and you know the infrastructure was in vulnerable state already. that it is going to be hard to get people down there to do work and to sell you equipment when you haven't paid all the bills from the past. how do you respond to people who say those things? >> well, first of all i've been in the administration for about eight months and we started on aggressive fiscal plan reducing the size of government. we had 131 agencies. our aim to reduce it to 30 agencies. i slashed $1.4 billion of our budget. that represents anywhere from 17 to 20% of our budget in my first go round. so we were taking steps so that
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we can mitigate the fiscal situation now. there is no doubt there are needs in the infrastructure as seen after the devastation but we were already making waves with public/private partnerships, commitments to get the private sector involved. that is what we expect to happen right now. we don't, we don't expect everything to be, the federal government but certainly the federal government needs to put their part, even though before the storm we were doing everything, we were working, we were starting to get liquidity after storm like this, devastating event like this, we need to get things back going. it's a game-changer. we need all the support we can get. melissa: you mentioned idea of beginning to get liquidity again. when you hear the idea, hear the president saying something wiping out your debt, is that what you would want given it would be nearly impossible for you to ever borrow again if those debt holders were stiffed at this point, as empathetic as it would seem you're in such a crisis, you need that forgiven
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it, would have huge implications for your future ability to borrow? how do you react to that? how does make you feel? >> first our short-term liquidity problems are even beyond discussing payments to the debt, right? in regards to the statements made by the president, that is his opinion. we are already, puerto rico what is called the title 3 proceeding, judicial proceeding, because i can't comment on it because we're in the middle of that proceeding but part of that proceeding to sit down and have, you know, conversations, negotiations with the bondholders. and as soon as possible, i'm sure those proceedings will continue. melissa: do you worry about your ability to borrow in the future though, if you take too many handouts? if those debt holders are not paid something? >> well, this is not a effort for handouts. i actually ran on a platform saying i didn't want a bailout.
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we were going to take matters into our own hands. melissa: you still feel that way? >> i still feel that way. but however, similar to florida, similar to texas, you know, the federal government needs to react equally, to the needs of the people of puerto rico. we are proud u.s. citizens. there needs to be an equal response over here based on devastation. that is what we're expecting. secondly -- melissa: you need electricity yeah. >> we of course, of course, we need electricity. we're working with the corporation of engineers to -- corps of engineers to rebuild that but opening up for the private sector to submit proposals to establish p-3 mechanisms to get newer and better, newer and better grid for the people of puerto rico. melissa: yeah. >> so those things are ongoing. i want to make sure we understand that although we are having challenges this is not a call for bailout. it is a call for the emergency capital that we need in puerto rico to rebuild, to get
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out of the emergency. if we have that runway i can assure you we will rebuild stronger than ever. melissa: governor, our thoughts and prayers are with you. everybody around here has a lot of family there. we're certainly thinking of you, wishing you the best. thanks for taking time to come on to give us all that good information. >> thank you and god bless. >> too. david: we have breaking news which should be good for the market tomorrow. the senate budget committee passed its budget blueprint setting the stage for tax reform. this comes after the house passed their version. next stop the full senate floor later this month. capitol hill producer chad pergram says this will be more challenging lift in the house however the gop needs a budget to kill filibusters for tax reform to do it with 50 votes. melissa: politicizing a tragedy, hillary clinton taking the gun debate to the late-night stage. what she had to say about president trump and republican party that has critics fuming. david: plus exhaustible breach
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of trust, inexcusable breach of trust. why the former equifax ceo is finding himself in more hot water. josh shapiro, pennsylvania attorney general says why the company should be held accountable. that is coming next. >> you realize to many americans right now that looks like we're giving lindsey lohan the keys to the mini bar? ♪ today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right?
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melissa: the largest data breach in u.s. history forced former equifax ceo richard smith to take the seat on capitol hill. attorney general of pennsylvania vowing to get to the bottom with his own investigation and 47 other attorneys generals backing him. shapiro wrote in op-ed, equifax data breach is inexcusable breach of trust. it must be held accountable. he joins us now. in what way do you want to hold them accountable? what would be the punishment? >> equifax's conduct has been absolutely outrageous. there are a number of layers on this, i want to hold them accountable on each and every layer. we want to understand why the breach occurred in the first place. second we want to understand why it took them so long to disclose the breach. some initial press reports, said it was six weeks. we have reason to believe it was even longer. we subpoena ad lot of documents from equifax.
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we expect to begin receiving them on the 13th, next week, in order to begin sifting through it. let me be very clear, we will get to the bottom of it. the other layer though is, their behavior, equifax's behavior since the breach has been outrageous, trying to get people to waive their legal rights. to pay to freeze their credit. these are kinds of things we immediately struck back equifax for and they have stopped. there is ways to up their plan and change their corporate behavior. that is what is critical here. melissa: when you talk about getting them to change their corporate behavior, i mean what is your end goal? is it a fine? >> my end goal find out why the breach occurred. in short, that it never happens against and they pay up. that it may never happen again, that the corporations place a premium on security, add indescription, person until to protect security of our data.
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let me be clear. their entire job is to protect our data. and when 145 million americans have their data lost as a result of this breach, folks are angry. they should be angry. that is why we need to investigate this and get to the bottom of it and insure that it never happens again. melissa: without question, and i grant all of that, my only concern we saw this during the financial crisis, when people went after the banks and they levied fines on them, that fined money went into sit and local coffers. we had no idea how it was spent later down the line. and money comes from shareholders who, everybody out in our audience who has a pension plan, equifax is publicly-traded company, the fine you get is their shareholders money. to go into the state covers where we don't know what it is being used for, that is my concern. what do you think about that criticism? >> yeah. i think that is a really fair criticism. why i want to make sure if individuals lose money in this
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process, we get money back for them. you're right, it shouldn't go into some fund at state where it can't be used to protect consumers. it needs to be used to reimburse and protect consumers going forward. you raise another issue about a publicly-traded company. we need a honest dialogue in this country, this is probably best left for congress, whether or not we want a publicly-traded company being one entity responsible for protecting our data. it seems to me you need a lot more regulation. you might want to think about governance of a structure of company like this before americans are asked again to turn over all of their sensitive information to a company like equifax. melissa: i don't like turning over information. i don't know, i don't want to get government anymore involved, more regulation is seldom the answer. that is all good discussion for another time. i'm glad you started it. i appreciate it. i wish we had more time. i hear you on all of that. thank you for coming on. we'll do it. again appreciate it. david? david: timeline for your tax
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cuts, speaker of the house paul ryan pitching tax reform in maryland. we'll speak with jay timmons, president of national association of manufacturers who was at the event. wait until you hear what a tax cut could mean for manufacturers. ♪ 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
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david: imagine what would happen if there were tax cuts? according to new survey by the national association of manufacturers, 64% of employees would expand while 57% would hire more workers. here is jay timmons. and ceo of the national association. jay, how much do you think the economy itself would grow if we got the tax cuts? >> well i think, tax reform overall, is all about economic growth. and, being able to put money into expanded plants and equipment as well as hire new workers, obviously you are going to see increase in our economic numbers every, every quarter. i mean, a lot of folks talk
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about a 3% growth rate and how could we possibly achieve that? we have almost gotten used to 2% or lower. david: we were there last quarter. already there by the quarter. go ahead. >> that's right. if you look back, just a few years ago, the average growth rate, one of the worst economic times in our country's history, the carter administration, was 3.2%. we'll do a lot better than that and tax reform can make that happen, as well as regulatory relief and infrastructure investment as well. david: let's talk about the criticism from the left because you're not going, they're not going to be many democrats that go along with tax cuts, particularly corporate tax cuts. the left says if there is a corporate tax cut down to the 20%, that the president wants from close to 40% now, the corporations would just use that money for stock buybacks and other schemes that don't actually lead to hiring more workers, to which you say what? >> well, let's be clear about something.
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our members, you just pointed it out, 14,000 members, 2/3 said they would put money back into the economy, invest in new plants and equipment. almost same number would hire new workers. well more than half of them said they will increase salaries and benefits for the existing workers. that's good news for the economy. that is great news for manufacturing workers. david: now you still, you have a lot of companies, u.s. companies, that moved to ireland and other places. ireland has a corporate rate of 12 1/2%. if you lowered it to -- 12 1/2. david: right. david: it would be lower at 20%, but would that be enough to bring companies back appreciating a 12 1/2% rate right now? >> isn't that a great case study? you see capital flowing into these other countries. 12 1/2% in ireland. 15% a few miles to the north in canada. so obviously when you have competitive tax rates, it attracts investment and attracts
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capital. david: jay, forgive me, we're running out of time, will 20% be enough to bring companies back that are now paying 12 1/2%? >> so, we're hearing from our manufacturers that is a good number. a better number would be 15% which was originally talked about. we want to see 20% or lower, obviously competitive rate for pass-through entities as well. last word. manufacturing day tomorrow. 3,000 companies across this country opening their doors to students and teachers. david: good for you. jay timmons, congratulations. we're hoping for a tax cut here. we want the economy to grow. thank you very much. appreciate you being here. >> we're hoping for a good growing economy. david: absolutely. melissa: pointing the finger after massacre in los angeles. why hillary clinton believed republicans are complicit in the horrific attack on innocent americans. ♪ if you're on medicare, remember,
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so call or go online today. [sfx: mnemonic] melissa: gun debate in full swing. both sides chiming in for solution after attack in las vegas of the not to be left out, hillary clinton. >> i can't believe that one whole political party in the greatest country on earth is totally sold to the gun lobby and will do whatever they are ordered to do. despite the loss of life. melissa: here is robert -- pit pittenger from north carolina. >> good afternoon. great to be in long list of mrs. clinton of the blame game.
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this bump stock was approved by atf during the obama administration, so miss clinton had secretary of state. she had a strong voice in the affairs of obama administration. melissa: wow. at the same time, there are plenty of republicans who are coming out right now saying that they would support or consider, i should say, a ban on the bump stock, including senator lindsey graham, orrin hatch, marco rubio. how would you feel about that? >> well i think anyway that you can manipulate or change the assault rifle to be an automatic rifle, that clearly needs to be addressed. this is something that i believe congress will look at, but we shouldn't see this as panacea. that this will resolve all the mass shootings. only 27 of these shootings occurred with assault rifles. we have to be looking at other means of addressing the problem, what our law enforcement needs, fbi needs. melissa: only 20%, that is a
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pretty big number. if you could eliminate 27% of the shootings that is a big step? >> and i support that, but we shouldn't see it as a panacea to resolve everything. melissa: right. >> i think law enforcement needs access to better data. we need to be cognizant of hipaa laws that restrict our capacity of law enforcement understanding mental illness issues. as well, let's be real clear we are culture of violence of the we see it on tv. we see it on games kids play and in the movies. and, you know, this creates a normal way of life for some people. and it is very warped approach we have viewed life now. i think that, needs to be part of the discussion. melissa: hillary clinton might blame that on the gun lobby as well. i mean are republicans in d.c. in the pocket of the gun lobby? >> i don't believe the gun lobby is involved in hollywood. she needs to do fund-raisers out in hollywood and talk to them. melissa: she does a lot of that, spends a lot of time with those
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folks. >> good to be with you. david: guess what? the gulf coast bracing for yet another impact, the next tropical storm. it is gaining strength. details where it will hit, perhaps more importantly how hard. we have got those details in a moment.
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melissa: hurricane season is not over yet, nate is slamming nicaragua. david: it is expected to make landfall as a hurricane on our gulf coast sunday. on louisiana border with mississippi, fox news will be monitoring this. my sister-in-law is in nicaragua
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i talked to her this morning, they have a lot of rain. melissa: this season will not stop, that does it for us, "risk & reward" starts right now. >> investigator found 1600 rounds of ammunition in paddock's car in las vegas in the parking lot, police are looking to what help paddock may have received. officials believe that paddock planned to survive the massacre and escape. he fired shots near jet fuel tanks, officials add that killer booked a hotel room overlooking a major music festival in chicago, two months before the shooting, this is "risk &

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