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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  November 22, 2017 3:00pm-4:00pm EST

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so much for a tax bill before thanksgiving. has the horse trading halts for the holidays the border adjustment tax. the could supplant. what both need to do to make the passage of reality. and guess which one of these shots is los angeles. with 50 million people said to take to the roads 49 of them look like they were on the four '09. the nightmare is underway. the rush is on at the gw bridge. they are driving around with one eye on the speedometer the other one and the other one on the gas gauge. they diving through.
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it is about to clock it 68 record close of the great 2017 market rent. less than an hour to the closing bell. just keep the tv on. we will have some fun this hour and get you some real news. let's start the countdown. we have some holiday breaking news right now. take a look 18 hours away from one of the most beloved holiday traditions that is obviously from the peanuts that's charlie brown. nobody can tell in the booth but it looks to me. the iconic yellow and black shirt. this is the moment for the may seems thanksgiving day parade. they are blowing up the balloons for what has become as much of an american tradition as turkey and
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stuffing. it will be dazzled by gigantic floats. this started in 1927. the first character: was felix the cat. where is our meowing audio here. let's check the markets and the in the shares of macy's ahead of the parade. a nice day ahead of the big black friday weekend shopping. shares are breaching through the floor of $20. a nice move for macy's. and looking at the broader markets usually we don't see a lot of action on a day like this right before the holiday but stocks are on the move. the nasdaq is a winner at the moment. off the earlier lows though. after minutes from the federal reserve's meeting did show a growing concern that the run-up in stocks maybe getting out of hand.
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there could be possible gyrations and balances that's one of the fears and a big reversal and prices that would take people by surprise. we will see if we are still on track for the third rate hike next month. expecting to. and now the surprise exit their tumbling after they announced she is stepping down as chief executive. they are down about six and three-quarter percent. just a $13 stock. that was me and make she was on the move saying she was going to slip this business down. there were multiple layoffs during this time and it was very disconcerting but she slimmed down the company.
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she oversees one of the biggest corporate breakups in history when she split hewlett-packard. and the pc and printer business. what men will whitman will set down in february. as been there like half a century or something in the s&p 500. make has to feel sort of good about that. there are two major breaking stores how technology is turning into a real potential disaster they were sold over the recent years the processors are using computers that are sold as well as other manufacturers the concerning
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part two. homeland security is even jumped into the fray here. warning businesses to act on intel's alerts and heed warnings about the flow and then figure out how to patch this whole. the potholes keep coming a huge breach now a year ago they're supposed to report these things when it happened. it has triggered several countries around the globe to be very concerned but the latest breaking news is that the new york attorney general is opening an investigation both stories covered with david kennedy. the founder of cyber security company. david, to you first on intel. let's get right to it tell who should worry when we talk about which chips were affected we can put the logos up on the screen just about every famous intel trip is on there.
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is everybody at risk here. it looks like it's dating back to 2015. you're impacted by this specific issue. in the problem is that think of your processor. it is the brain of everything. the issue is that is not window patch. you actually had to patch the hardware on the computer. they can break into the computer and basically go underneath the operating system even further with things like antivirus it's really serious and is difficult to patch. it's very concerning for cooperation -- for corporations. only dull novo has figured out away. how to patch it.
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it makes you wonder. why it comes in. they talk about the back door into the system. it would allow them. doesn't have an admin. the management engine was designed to be a ministry of functionality. it is a brain of the computer and everybody else's brain. the full access. in the process itself. it means everybody is impacted by it.
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that's why you see a homeland security and other research experts coming out and saying you got to fix this now. check your advisories patch them if you can. they will be releasing it as it comes along. he asked if you go to the website and look at a computer name and downloaded the actual file names. they could steal all kinds of data from you. and is certainly disconcerting i want to bring in deidra. huber is hearing from state attorney general not just new york and they are now looking into it. it's not every businesses fault but talk about this. this was a year ago they tried to hide it they paid the hackers to delete what data they have stolen. did they fail to disclose the data breach which is now a rule i believe. what data they have stolen. did they fail to disclose the data breach which is now a rule i believe. this is an epic fail.
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the ceo at the time of this breach and at the time that huber basically paid off the hackers into not share the data. you are you're looking at them now on the screen. some new people at the time. the stronger critics would say he lacked the ethical guidance for that role. the new ceo clearly has a lot of work cut out for him but not only was this company hacked but they paid hundred thousand dollars to let the hacker basically put information on the side. there are certainly starting an investigation. i just want to highlight this is not the first time that uber has have this issue. in 2014 the actually paid and it was the same ag. $20,000 penalty for a failure
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to provide information. so the people knew and understood. you do need to contact the state ag. as of the can actually try to get the hacker as well. the person should not benefit from selling stolen information. in the long list of problems one thing i want to highlight for you is that they head in fact reached out giving notices to some of the drivers license numbers were taken only customers 50 million global customers were affected but 7 million drivers. let me just put this out there. they pay you a hundred thousand dollars to please delete the information this seems so ridiculous to me. of course they didn't delete it. and some of them actually make
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full-fledged lights at out of this kind of thing. you're talking about an ethical issue where you are trusting a hacker you will pay the hundred thousand dollars and hopefully they will get rid of it. they did not report it. that's bad. we should have you back because this may hurt their ability to go public. some people are saying that right now. it is certainly valued. thank you very much. and your driver by the way everybody has also been hacked in thankful at the moment that so far they say they have not access any of that information. we at least had a long weekend to upgrade to security. just nine hours until thanksgiving day officially
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starts. retailers are gearing up from one of the busiest times of the year but not everybody is skipping their thanksgiving feast to stay open. nicole petaluma is in the stores that will be welcoming eager shoppers to row. if you want to run straight to the store. people are going to be spending more this holiday season take a look. open on thanksgiving. the following friday. also best buy. in and macy's 5:00 p.m. target 6:00 p.m. coles opens on opened on things giving at 5:00 p.m. you can run right out and you can see the stocks are all higher today but some of the retailers had have a tough year. you can see today they are all higher. they are giving their workers
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the day off and that of the t.j. maxx, cosco burlington stores nordstrom and barnes & noble. forget it the sea on friday. that is the big picture. people will be spending more and $67 is the average. of about 3.4 percent from last year. they have huge online businesses. their workers get a day off and they are still making money because the online business is typically are amazing. we are 47 minutes away. it's down 59 points. earlier it had been down 83. we are watching it very closely even on the day before thanksgiving so glad you are with us. we need you to keep hanging out you might see a nasdaq all-time record close. john deere writing near the top. after announcing a jump in profits 79 percent in the
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third quarter the farm equipment maker on the path to the fourth straight record harvests. harvest. it's up nearly 40% today. and yet the thanksgiving getaway day and writing around chicago. we had traffic but you talked so long that we missed it. we will loop around and see if we can find more traffic.
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it's not a news a flash that 50 million americans are predicted to hit the road but what is happening in los angeles and i'm from la i know we had traffic if you haven't left let you are too late. this is a picture from overnight closer on the last night side you can see the massive headlines. the taillights. welcome to la. lots of traffic. those are people trying to make an early getaway too late drivers will be paying the highest turkey day gasoline prices in three years when
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they get through the traffic jams. there was nothing happening there. she would should we just take it back from you. i suppose you could. this is good news. a lot of people i think did leave early because of trouble in past years. if you look at it. they've actually come down a little bit in the last week to 52:00 is right today. we are talking about 39 cents more expensive this year. we have more money this year because of things that aaa has identified as a strong economy. they are saying that not only the strong economy but a robust labor market.
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higher consumer confidence. it's really boosted travel this year and enabled people to take a trip that maybe they put off in past years. the last thing i will leave you with is places where you can get cheap gas and where you can get expensive gas. that would be your home of california of course. maybe the taxes are high. and that's why it's 320 a gallon. the low prices for gas drive south. the inventories came out and there still appears i have to tell you there is still too much oil opec knows that. they are meeting next week. lisa a tiny little bill of 44,000. it did close above $50 per barrel. they still continue to go up even though we have the situation of pretty firm
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prices. and they are not terrible. we are talking about the national average of around 250. in the grand scheme of things we paid $4 and almost $5 that's not so bad i don't think. you are trying to drive to get out. after pump my own gas here. you will never pump your own gas in new jersey. i was trying this morning to say something about nice about wisconsin food and i may have said that the eight too much food because it was so good i may be used a word that i shouldn't head. that was a riveting conversation. thank you for that added value.
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what if we could keep more amof what we earn?d. trillions of dollars going back to taxpayers. who could possibly be against that? well, the national debt is $20 trillion. as we keep adding to it, guess who pays the bill? him. and her. and her. congress, we should grow the economy. not the debt. ♪
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to have a fit bit and i found maybe an apple watch you can check the heartbeats and all that. there is a company called dec's con that has taken it way further. the glucose monitoring system into the diabetes ecosystem. for more than 30 million americans who have diabetes this is a game changer. during the special national diabetes awareness month. it could help those suffering from the disease and get some real relief. we have the ceo of dec's con. tell us how it works and what it's good to do. the way it works as there is a
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small sensor that is inserted underneath the skin. people insert these things themselves. it is painful and it doesn't aspect painless and it doesn't bother anybody. it is just under the skin. you get a good glucose reading every five minutes. if you know 70 with diabetes someone with diabetes compare that sticking your finger and dried blood. with our system you get 288 readings per day pain-free. and with a trained information people can make it very important decisions to manage it. that way you know when to do. have you talked to iphone or apple people the way we started we were the first class device and it was our
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first platform and transmits a signal. in the iphone the way it is currently configured it is also connected. to the watch as well. we awful android offerings as well. we don't ever want to shut out android users seem to i thank think it's important to always include them. you also spoke to our recently announced fit bit transmitter. to receive meaningful information where they can interact with it. that is our mission.
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congratulations. thank you so much. there are a lot of you out there. if you know somebody that has to do with it. it's about 30 minutes. for what would be the 68 record close of 2017. he is the guy a guy who has been watching tax reform tennis matches from the stands like the rest of us. which of them do they say should win all of the games. game set match. the economic professor. known as a father of the border adjustment tax. he will answer that question coming up.
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with some big news. jardiance is the only type 2 diabetes pill proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease... ...and lower your a1c. wow. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. what do you think? i think it's time to think about jardiance. ask your doctor about jardiance. and get to the heart of what matters.
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the world's largest game for the nintendo switch it's no question that there still under some pressure this is the fifth missed on revenue down 13% the economic professor the house in and the
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senate tax plan. it's all coming up next with liz claman on countdown. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country.
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for just $49.00. speemac we have a little breaking news right now. shares of qualcomm are moving higher right now. the reports that broad, is considered sweetening its offer. it have initially offered to pay about a hundred $3 billion for qualcomm. maybe $60 per share right now were at 6792. raise that then. we are worth way more than that. it appears that broad, which of course is coming back to the u.s. after having domiciled in singapore it may off its bid. remember the controversial border adjustment tax the one that the house ways and means committee liked.
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while they were coming up with their version of the tax reform plan. they needed to compromise and a little horse trading. while the elimination of the state and local tax deduction known as salt could it be on the chopping box next. the economics professor he he's also the former president of the national tax association. good to see you. what about that. do you think that salt that's causing real stomachaches where there are a lot of businesses that have a lot of jobs is that going to be one of those chips on the back end of the table that is going to be moved around. on the other hand it raises a lot of money for them. where they have to face the
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bird rule after the individual tax cuts expiring the way it is. it would make a lot of sense if they're thinking of facing phasing the state and local tax deductions out. to do it very gradually to allow adjustments in the economy to avoid big disruptions. given their tenure budget windows delay these kind of things it means that they don't raise as much revenue. they might have to come up with it somewhere else. you are the tax brainiac what else they could trade out with the state and local tax deduction that might get the 1.3 trillion dollar number right up there. you know when you have referred it to my favorite proposal. that would have raised a lot of revenue. it would've been a pretty big change. i understand that they have not moved completely away from it.
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the senate has a minimum tax proposal. it would function like modified border adjustment as well in my view. they have identified the standard places. the only other alternative would be to have not as big a reduction. they are committed to go to 20%. with that be enough to plant it. if they really want to get the
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chunk of revenue from raising the corporate tax rate backup will probably be more in the neighborhood about 25 percent. it's gonna be a lot less enthusiasm for what they're doing. the whole point is to lower business taxes. can i ask you whether you think of the repatriation holiday if this tax holiday is permanent do you get the sense that these companies will come in gung ho and back to the u.s. with their profits and start hiring and building because when president bush did that one time tax repatriation look at what happened. there were a bunch of layoffs. they took the money and they basically did share buybacks. they also laid off workers.
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with the business investment. the company's like the ones you just mentioned are quite liquid. they have a lot of cash. they are not turning down investment opportunities. does this mean this assault is it that the state and local tax deduction do you see that actually coming to pass. going through conference. mother is a full the parcel cutback.
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or something additional i don't know. thank you so much and happy thanksgiving professor. the closing bell when 19 minutes away. it is coming up off of its lows. cap next a merger on the brink. charlie breaks it. he's in the lead in the story. we will see you in a few minutes.
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my mom and her secret pie crust recipe. i'm going to reveal it. and? >>by the time they got me an answer, it was too late. td ameritrade's elite service team can handle your toughest questions right away- with volatility, it's all about your risk distribution. good to know. >>thanks, mike. we got your back kate. >>does he do that all the time? oh yeah, sometimes he pops out of the couch. help from real traders. only with td ameritrade. when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking.
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when ceos and the department of justice attack the battle between the department of justice and at&t is heading to court no doubt about it. but even if the 85 billion-dollar merger fails to pass which is quite frankly what the department of justice says it would like to see there could be other time warner suitors are ready to pounce i would say this. i've been talking to bankers lately. if this deal does not pass somehow i know everybody's
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conventional wisdom is at&t and time warner are going to beat the trump justice department. there's not a great antitrust case. and they will lose some marginal can sessions and walk away. this is what they do. they look for scenarios like that. and the steel cannot go through or if at&t does not want to fight this out. even though they have a whole bunch of evidence earlier this year they say i'm fine with it. when they kill this deal. they had been very clear even as he was very clear in the campaign. here is a thing.
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if you go against the government it's a crap shoot. they don't want to fight this out for a year. or they lose in court. this really turns the telecom business upside down. if you can't do this. there's only a few places that you could sell to. tech does not want to do with this. netflix, amazon they had developed their own programming. so who is left. if this deal fails at the justice department. they have no comment on the story.
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the bankers are telling me that this really could lead to a 21st century fox with another bit. they did not think it was a great cultural fit and everything else. with without limited number of suitors available and tech companies that a lot of tech companies from when i what i understand is a change in scenario they were looking at content. a lot of them say we don't want to get involved with anything. it will be a working vacation for everybody involved. we are looking at it from the bankers. there are some tech interest in this. the media ground game for deals has been turned upside
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down by this suit and if it does when or at&t walks with and establishes this as precedent that you can't mix vertically a distributor in a content provider then you basically had limited the number of buyers dramatically time warner and then had to say if you don't have tech in their tech doesn't want to get involved with time warner there can have to distribute this. didn't want to deal with cable companies. carriage companies. they're not that exciting. they would have to distribute time warner through cable companies. just say apple. they would have to deal with comcast. that's why they are developing their own content. so who is left to buy the stuff.
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thus, cbs i know you say the techs are sour. if it gets scuttled look for our boss to make another run. and on want the whole menu. what is the number one most tasty think that you will have. i'm not cooking for thanksgiving he makes a great turkey but my mother-in-law makes excellent stuffing sausage stuffing it so good
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people had tried to wrestle my mother's pie crust must be for decades and i wouldn't it would give it up. it has been in the family forever so i'm gonna share it with my viewers because they have made as number one we are the top rated business network so don't be mad at me go to my facebook page and you will have the pie crust recipe before it disintegrates in the spy movies. you would have to chip a nail. am it to my sister. i'm sorry i'm i very attuned to this. and something bad. i tuned out like 90 seconds ago. i want to issue a formal apology to anybody some of the
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viewers well not forgive you. but i will ask them on this thanksgiving weekend to have a little love in your heart for charlie gasp reno. the closing bell we are gonna see that in about six minutes. dozens of industrials. it does not look it will be a winner today. it could be that 68 record close of 2017 and by the way before you run out for the last minute items you've got to stay with us because for a billion-dollar man ron carson is going to give you the last minute trades in six minutes the last six minutes of the closing bell hour. we were coming right back. alerts -- wouldn't you like one from the market
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when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. . liz: okay. less than three minutes before the closing rings. we're going to try to make you some money.
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before you hear the bell start clinging or as you're sitting there baking your pie crust, check out these last-minute trades you might be making right now. at least, that's what carson group founder ceo ron carson is saying. hi, ron. >> how are you doing, liz? . liz: i am well. happy thinking have. but now i'm watching exactly two minutes left. what would you go long on right now? >> we like apple. i know apple's had a good run here. we love the stickiness of the ecosystem. and with the iphone 10, we think that's going to fuel an upgrade cycle. and believe it or not, ball corps. there's a leading provider of aluminum cans. they're actually replacing glass containers, specialty containers and valuations are pretty reasonable here. liz: okay. ball corps. pretty interesting. maybe we can get that stock up because i want to see what it's doing over the last year. and as we continue to talk, what would be your last-minute shorts with now just over one
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minute to go? >> tesla. tesla -- i love the product. it's a sexy product. we have some real concerns here at the carson group about their cash burn and their ability to produce in volume. and another one is union pacific railroad right here in omaha, nebraska. we think there's some headwinds in 2018. as a matter of fact, you know, on those headwinds, tax reform may, in fact, be a negative for the market, and we don't think the market's baking that in. so we would definitely balance. if you're going to go long, you should be going short some positions as well. liz: i totally agree. that's why you've got to shed some and bring some in. and yes or no, is the fed going to rise rates next month? >> yes. yeah, it's baked in the cake or the pie or the turkey. it's definitely -- they're definitely going to raise rates. as a matter of fact, with tax reform, if it's as stimulant as everybody think so, the markets are already guessing they're going to raise rates
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three times next year, a little less than 50%, and that's why it could be a negative, for sure in december. liz: happy thanksgiving, ron. thank you so much and to all of you guys out there watching. you have no idea how thankful i am for you and my team. happy thanksgiving. melissa: all right. we've got a new record ahead of the holiday. there you go. we're trying. there we go. okay. the dow is falling into the red. so there's that. but along with the s&p 500, the new record close before the nasdaq. i'm melissa francis. david: i'm david asmand. happy thanksgiving a day early. more on the big market movers but first, even on the day before thanksgiving, we have a very busy hour for you so hang in there. lawmakers better enjoy their thanksgiving because there is a whole lot of work to be done once they're back in dc. the senate is up against a very tight deadline

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