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tv   After the Bell  FOX Business  March 5, 2019 4:00pm-5:00pm EST

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low. the dow flipped to negative. [closing bell rings]. thank you, chris. major averages, too close to for the dow and s&p. i will throw it in melissa's lap. volatility on wall street. melissa: investors await progress on a u.s.-china trade deal. the dow ending the day, down just 11 points there off session highs clearly. you know, there you go. apparently you were supposed to read that. connell: a little lower. what gave that away? melissa: said melissa. >> you could have ended that, hey everybody i'm melissa francis but instead you didn't want to say i'm connell mcshane. melissa: no, i am connell mcshane. connell: i'm melissa francis this is "after the bell." like the dow fighting for gains. ends up lower by three points. nasdaq off by a single point. more on some big individual market movers in a moment.
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here is what is new at this hour. ♪ melissa: president trump firing back slamming democrats for choosing to focus on political games instead of policy. the latest from the white house. plus democrats launching a new attack on wall street. alexandria ocasio-cortez is one of the lawmakers leading the charge. the plan to tax nearly every bond or stock transaction. what a great idea. as the senate prepares to vote on the green new deal republican senator john barrasso claims the proposal would drive a stake through the heart of the u.s. economy. he joins us this hour. connell: wow. that's strong. the markets, the dow turning negative there in the final moments of trade as we talked about. let's go to kristina partsinevelos for the recap of the day on floor of new york stock exchange. kristina. >> i know it is super exciting, last few seconds of the day i
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would say we'll see the dow in the green. now ending down 11 points. what do we see for some leaders and winners? we bring them up on the screen. go through dow leaders of the day, unitedhealthcare, health care sector doing well. walmart doing really well. retail boost from target earnings. chevron also doing quite well because of raising production forecasts aims to double the out put by 2023. some of the losers we're seeing on the dow bringing it down 11 points like we mentioned has to do with trade related stocks. 3m, caterpillar, dow dupont closing the day lower. if we talk about movement though, i bring up ge. bring up the intraday. really big drop in ge chairs after one p.m. eastern time that was when the ceo of ge took the stage at jpmorgan aviation and transportation conference in new york city and said they were
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expecting negative free cash flow in 2019. what does that mean? money left over after you pay for capital expenditures and other expenditures. this is a concern. the ceo said there will be some headwinds when comes to the power business. that could last for a few years and some of it has to do with the acquisition of allstone happened back in 2015. that is still an issue. last but not least retail winners for the day, target an kohl's. kohl's doing quite well. profit better than expected, sales stronger. target double beat on there, really turning things around. online sales doing quite well. remodeling stores partnerships with celebrities helping foot traffic. back to you guys. connell: ended on a high note. kristina thanks. melissa: china slashing economic growth blaming the impact from the trade war with the u.s. edward lawrence live in d.c. edward? reporter: discussions with the chinese even at the deputy level are continuing even today. the both sides trying to get to the final deal as quickly as
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possible. today the chinese announced they are slashing expectations for growth in 2019. the expectation is now between 6% and 6.5% growth. last year the chinese announced the growth was the lowest in 30 years. that was still more than the 2019 projections. still this signals a further weakening of the chinese economy. i'm also hearing companies in china say american manufacturers have started to shift their supply chains. that could signal long-term damage to the chinese economy if a trade deal cannot be worked out. vice president mike pence says the u.s. will protect our industries. >> this president is picking up the phone. he is traveling the world. he is fighting for trade deals that are free and fair and reciprocal and we're going to have trade that wins for america. reporter: on capitol hill republican senators seeing weakness in china's economy touting our economic fundamental s. >> greater growth in the economy, higher wages, record
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median household income, lots of good things happening out there in the economy. reporter: the u.s. trade representative using this to hold china accountable to make a deal that includes specific enforcement. he says he wants to lower tariffs on both sides. that is one of the goals. the chinese blocked off the last 10 days of march for a possible face-to-face meeting between president trump and president xi xinping of china. the while house is looking around to the march 27th date. also on trade, the european commission, excuse me, european union trade commissioner will be in d.c. tomorrow to see if they reach a deal. there is a stalemate in those agreements because the u.s. wants to put agriculture on the table in any agreement. the europeans do not want to negotiate on agriculture. melissa. melissa: edward lawrence, thank you. connell: let's bring in the our panel. gary kaltbaum and liz peek. both are fox news contributors. gary, edward talking about china growth story, trade story on the
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other, brings up the question we've been looking forward for so long for a trade deal between the u.s. and china. what if we get one the end of march? is the china growth story, certainly, suddenly not a concern? or is it it a still big concern for you? >> china is still a concern. they are debt-laden. the demographics are going the wrong way. i think it is troublesome no matter what but it will definitely help. look, they are in trouble because of a lot of the tariffs though i think not as much is being said. look, i just hope something gets done already. it has been a couple of years. it has been going back and forth. my biggest worry right now they keep saying how great things will be. they better be great when they come out with a trade deal. it better not be less than expected. connell: yeah, in the process or probably through the process, liz, kind of pricing in that situation for markets. so to gary's point, we know that the chinese economy has been
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slowing. we have the numbers edward just talked about. say we get a deal. what will it take, we always ask it from our point of view, but from the markets what will it take to get china back on track? >> two things. in terms of what moves our market, that is what investors are looking for right now. i would argue that is sort of steady earnings growth. that is what the market has been driven by the last couple years. and in earls it of china -- in terms of china, think they will prosper with or without unfair trading practice. if allowing financial services companies into their country from the united states is going to slow their growth, then they have got bigger problems than even gary is alluding to. i think they do have issues. i don't think they will grow at 6% this year. all these numbers are sort of bogus they throw out. and they know it. so you know the big problem they have, how they will stimulate their economy. guess what? they need to free up the economy just like every other country has learned. take off these barriers.
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get rid of the state-owned enterprises. stop strangling small business. guess what? they will do fine. we'll not be the engine that gets them going i don't think. connell: more to come on all of this. gary, liz, we'll see both of you later in the hour. melissa: focusing on nonsense. president trump taking aims at democrats playing games rather than focus on issues like infrastructure and health care. blake burman at the white house with the latest. blake? reporter: president trump says he is the victim of amounts to presidential harrassment and nothing more than a fishing expedition. the house judiciary committee sent a request for documents to 81 different people or entities including entities himself, his two oldest sons, businesses, former members of his administrations. today the president saying that leaders within the democratic party have gone quote, stone cold crazy. those who receive the letters are innocent. the president believes in this case, democrats are simply playing politics. >> it's a disgrace, it is a
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disgrace to our country. essentially the campaign begins. instead of doing infrastructure, instead of doing health care. instead of doing so many things they should be doing, they want to play games. reporter: con aggression a.m. democrats say these investigations are well within their reach as they are conducting congressional oversight. >> congress has an independent responsibility. very solemn one, to do oversight. that is what the house committees are doing. they are asking questions and demanding answers. that is what congress is supposed to be doing. reporter: meantime today top democrat on the house overnight committee, congressman elijah cummings announced that the white house will not hand over documents his committee wants as it relates to the security clearance process over here at the white house, melissa of keen interest to democrats is the security clearance of jared kushner. melissa? melissa: blake, thank you so
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much. joining me now, to react is brad blakeman, former senior staffer to president george w. bush. we were chattering there, forgive me in the end, because michael bloomberg put out on twitter that he is taking himself out of the running in 2020. so that is one more democrat that is not jumping into the race. he had been flirting with this idea. he said he would not run as an independent. might run as a democrat. now saying he is not going to do it. so we add that into the mix as blake reported, democrats are taking on this investigation into the president and issuing all of these calls for more information. to 81 different people. do you think that is smart way to go about oversight? that is what they were elected to do? or does that alienate voters? >> this alienate voters. this isn't about oversight. it is about overreach. using power to get a political advantage over the person and persons you're investigating.
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look, the mueller investigation is still ongoing. democrats cried before they got the majority in the house, let mueller do his work. well, they're not taking their own advice. mueller should be able to do his work, separate and apart from the house. this is a special investigation. and but the house can't help themselves. i think american people will reject the overreach of democrats. melissa: democrat marie harf was on fox news channel earlier today the reason why that argument doesn't work, let mueller do his work because trump's crimes go so far beyond that the things they need to look into, things that were discovered in the southern district, things about his financial past, it is not just the mueller report. it is all kinds of things he has potentially done wrong and american people want democrats to look into it. what do you think about that? >> i think we have already investigations ongoing that we know of. it is unfair to say that the president's committed any crimes. either as president or before he was president because the
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evidence just doesn't suggest that. and in washington follow the leaks. there haven't been any leaks with regard to the president. as president or as citizen committing any crimes. this is wishful thinking on the part of democrats. they are in search of crimes. melissa: so what do you think drives the voting in 2020? what do you think drives opinion? if you're looking at economic approval rating, the president's right now is up to 56% in the area of economic approval. do you think that the economy will carry the day and, it has got a little while to, you know, continue to stay strong in order to be able to carry him through the next election, if that is what would do it? >> historically people tend to vote with their pocketbooks. when they go into the voting booth, am i better off today than prior to the president? the answer is clearly yes. all economic indicators are the economy is doing fantastic, whether it is unemployment, whether it is interest rates. whether it is inflation. whether it is manufacturing,
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repatriating profits this president has done a great job. he honored his promises. i think the american people will reward an incumbent president who made good on the things he promised for the american people. melissa: let me ask you real quick to react to the breaking news because michael bloomberg was seen as centrist, a moderate, wasn't to the extreme left of the democratic party and also somebody who could speak on the economic message, being someone who built companies, who has run a city, that sort of thing. so why do you think someone like him would drop out? >> he is is not out of the race. anybody who will tell you he will spend $500 million of his own money to influence and beat the incumbent president is every bit a candidate if he was in the race by his own name. the fact is he will have tremendous influence on this campaign coming up. so i don't take him out. he is in it. he is in it for 500 million bucks. >> brad blakeman, thank you. connell: on the breaking news, president trump just tweeting on the departure of the fda
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commissioner tweeting quote, scott gottlieb who has done an absolutely terrific job as commissioner of the fda plans to leave government service sometime next month. scott helped us to lower drug price, get record number of generic drugs approved on the market. so many other things. he and his talents will be greatly missed. melissa: there you go. taking on wall street. house democrats introducing new legislation aimed at imposing taxes on wall street transactions. how likely is it to pass and how will it impact the stock market? connell: mark cuban creating buzz around a possible 2020 run. what that billionaire is saying coming up. melissa: devastation in alabama. officials are still searching for survivors as tornadoes completely destroy homes across the state. now the president is planning to visit. we have a live update from one of the hardest hit areas coming up. ♪
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melissa: on wall street, house democrats introducing a bill that would put a tax on most wall street transactions. fox business's deirdre bolton is in the newsroom with details of this one. what a terrible idea, deirdre. >> well it will slow some traders down if it happens. we keep putting that qualifier in there. democratic congressman from oregon, peter defazio leading the charge against wall street. he is expected to introduce the legislation tonight in two hours. it would tax trades on stocks, bonds, derivatives. not the first time he targeted wall street. he introduced a similar bill two years ago. little pickup at the time. congress was republican. also the theme of taxing the rich was just not as popular as it is right now. underscoring that point, congresswoman alexandria ocasio-cortez is a lead
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cosponsor of the bill along with a dozen others including representatives from california, massachusetts, connecticut and washington state. so defazio says he wants to discourage high frequency trading this is the group that he says he is targeting. he says he wants to avoid another "flash crash." he also says the money from the tax could go to more worthy causes. for example, the joint committee on taxation, estimates the financial transaction tax could help reduce the budget by adding revenues of $777 billion over the next 10 years. if big, if, the exact form of the proposed law were to pass, individual investors would have to pay .01% per transaction, from ameritrade, swab, whatever they choose. one important distinction, individuals are not taxed when putting money into 401(k)s but companies managing the 401(k) plans would be taxed if they
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bought or sold securities on someone's behalf. so in theory the asset managers would pay the tax but melissa, skeptics say, corporations always find a way to pass down the costs to consumers. back to you. melissa: all right, deirdre, thank you. >> we'll see what happens. melissa: no doubt, yeah. connell: gary kaltbaum, liz peek back with us to talk about this it is talked about, written about, what i saw guys, this will never happen, it is to make political points, sometimes you never know, liz, these things gain momentum. the next thing we're talking about something that did happen. say it did what would impact of the tax be on investing, your view? >> let me say what is remarkable about this, aoc, or alexandria ocasio-cortez is basically driving the stake through another industry that is in her hometown, right? first of all we had her kicking amazon out. now she is going after financial industry, by the way most new york politicians shy away from doing. what would be the impact? obviously would raise the cost
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of investing. of course it will flow through to ever investor who owns shares or owns stocks. is it really going to cut down on the "flash crash" type of trading? i doubt it very much. what might do, reduce liquidity in the arquette as the volcker rule did. that would be a double-negative for investors. connell: gary, when people in favor of something like this make the argument, you have to explain why it is an issue, they say stuff, only 0.1%. it is only rich people. it is -- what do you say to those types of arguments when this issue comes up? >> i'm just happy i get the opportunity to bring out gary's list again. connell: uh-oh. >> in 2019 we have a 90% tax proposal, 70%, a wealth tax, a raising of the estate tax, a raising of corporate tax, a vat tax, a carbon tax, and now the
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transaction tax, not to mention they want to take over health care and god only knows what the taxes are there. it goes back to what reagan said. if it moves they are going to tax it. when they tell us that, oh, we'll help the budget deficit with this, yeah, sure, right. i don't even know where to go with this. here is the other part of this. connell: yeah. >> this year our government, federal, state, local, will spend $7.6 trillion and they're trying to tell us that is not enough. that they need more of our money. and i don't even know what to say at this point. hopefully somebody on the other side is yelling and screaming this. i don't believe people want to pay more money into the government, i don't care what side of the aisle they are. connell: that sounds like a good balanced discussion. gary and liz are both in favor of this. >> well-done? [laughter]. melissa: not finding a lot of people arguing for it in this network, anywhere near this network. there you go. new york says no, but northern virginia says yes.
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how major differences between two cities are reason amazon can find more success in arlington. picking apart the green new deal. why republican senator john barrasso says the plan is unworkable and unaffordable. he joins us after the break to explain. ♪
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melissa: getting lawmakers on the record. senate majority leader mitch mcconnell announcing the senate will vote on the green new deal in the next few weeks as wyoming senator, john john barrasso warns the proposal is unworkable and unaffordable. he joins us now from capitol hill. i was fascinated by your op-ed in "usa today." let me ask you, you broke down it would cost each family $65,000 per year. where did that number come from? >> we actually had a non-partisan group take a look at this. they come out with a report of the overall cost of $93 trillion. you divide it out by families and there is a number of
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components that make up the $65,000. retrofitting of hopes people have to do. there is conversion to all sorts of energy that renewable sources of energy, when right now only% of our energy comes from solar -- only 8% of our energy comes from solar or wind n terms of taxes that would have to go up based on the pactfact that part of the green new deal includes "medicare for all" by bernie sanders which adds to the cost which makes this a crazy new deal in terms of cost to american families and cost to the economy. melissa: you're dividing 93 trillion by number of families that make sense. energy bills could spike $3800 per family per year. democrats are saying that those are lazy mathematical assumptions. that coming up with this number, like obamacare when we were bending the cost curve because we would find new innovation, they say with this, there is all
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kinds of savings in there that will be realized. what do you say to that? >> the savings are not there. american families know it will cost a ton to come up with the sort of things that have been proposed. high-speed rail across the country. getting rid of oil, gas, coal, turning over our economy. basically to vladmir putin if he wants it because he uses energy as a weapon. it is the jobs that will be loss. all industries attacked by so-called green new deal. it's a big, green, bomb, that will hurt the economy, hurt families, raise taxes. it is not going to accomplish the things that they want to do in terms of carbon and climate. there are things we can do -- melissa: one of the reasons it wouldn't achieve that, republicans point out, anyone opposed to this, america generates 13% of global carbon emissions. china, india, produce 34%. the problem with that, those responding to that argument say, well, china is going to do what they're going to do. that doesn't excuse us from trying to clean up our air.
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what do you say about that? >> china will continue to do with to grow the economy, to take advantage of us. russia will do the same thing to take advantage of us. there is no reason we should tie our hands behind our backs competitively, allow china and russia and other countries to grow their economies as well as their military, as well as their power and their might against us. to me that is a fool's errand. there are things we can do in terms of carbon capture utilization, sequestration. make carbon a valuable product. we're doing research in wyoming and other places to that effect. you can send the research findings around the world. i met with bill gates who is doing a lot of work with new age nuclear. we passed legislation to do that. you can deploy the resources and technology around the world with nuclear power plants that are smaller, cheaper, safer. that works everywhere. those are the sort of things we
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should be doing, melissa. melissa: some say this is even more nefarious than that. if you look inside this socialist plan it talks about paying people even if they choose not to work. this is like a trojan horse, kind of turning over the means of production and control of the economy to the government. we'll discuss that next time. i bet you have some thoughts on that. senator barrasso. thanks for your time. wish we had more time. >> thank you, melissa. >> completely different subject here. it became official today, believe it or not, kylie jenner is the youngest self-made billionaire with a b. melissa: how is that possible? >> take it up with the folks at "forbes." they have it. she is 21 years old. how is it possible? she owns 100% of her own company, kiley cosmetics. she reached the record faster than mark zuckerberg who was youngest ever. he was 23. she is 21. there is argument online, what a self-made billionaire is. melissa: because their mom did
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it? >> no, never thought i would be the defender of kylie jenner, but she owns 100% of this company and start i had. all right. melissa: depends if it is your idea and business plan and model i guess. she owns it so there are technically it counts. it is amazing. connell: is that crazy? she is 21. melissa: it is crazy. it is "forbes," so it is true. they're really good calculating, to a lot of people's chagrin able to know about what you're worth. i talked to a lot of people when they're trying to stay low profile unlike kylie jenner who is not staying low profile. connell: not an issue. melissa: ruling out 2020 run, michael bloomberg decides he will not run for president but will the billionaire still have a hand in the race for the white house? deadly tornadoes tearing apart homes in alabama. we're live on the ground in lee count with the latest on rescue efforts coming up.
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connell: brac to breaking news this hour from the world of politics, former new york city mayor mike bloomberg will not make a run for president in 2020. says he can accomplish more as a private citizen, adding quote i believe i would defeat donald trump in general election but i'm clear-eyed winning democratic nomination in such a crowded field. let's talk about it. liz peek is back with us. also james freeman our friend from "the wall street journal," also a fox news contributor.
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i was reading, mayor bloomberg wrote an op-ed about half hour ago i was reading, it brings up interesting points, james you and i talked about it on the show a number of times. he says i know there is much more we can accomplish over next two years only if we stay focused on work and expand upon it, here is the key, at east least in my view, a national presidential campaign would limit my ability to do that. what about the idea, james this is guy with pretty much unlimited bank account, can write a check for half a billion dollars, as he hints bigger impact on the race not being in it? >> i think he, as you saw in the other parts of the article he made a decision he would not be willing or able to go far enough left to win the nomination. that is the process, the party and nominating process has become so hostile to liberals, not just moderates and conservatives, that it is demanding a far-left candidate?
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you look at the "gallup polling" though, a lot of voters who, democratic voters who consider themselves moderate or even conservative. so john hickenlooper, former colorado governor who got in this week is testing whether you can be liberal but not an extreme leftist. bloomberg doesn't think he can be to wint nomination. connell: that was his calculation last time around he just couldn't win. some people thought he would give it a shot. he does not. what about impact as spender than a candidate. >> bear the hypocrisy democrats running for office they will not take money from big pocket donors, right? they will not have pacs. they will only raise money online. that is fine, if bloomberg is behind you with half a billion dollars getting out the vote, doing all the things that a pac money, the pac money might achieve for you what's the difference? look, last time he wanted to run as independent. i think he was completely
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correct that was never going to fly. this time he wanted to be a democrat candidate. connell: yeah. >> i think you know, he just was too moderate in his opinions. make no mistake he is liberal. and he is going to be campaigning on gun control and climate change for sure. connell: spend a lot of money doing it. as quick final point, james, other billionaire making news today was mark cuban because he did some interviews including one with fox he speculated maybe running as an independent. so what about mark cuban and his impact here as opposed to of course the former starbucks ceo howard schultz, the differences between the two? >> i think cuban may be a little more intriguing as candidate, he has media, social media skills. he is also little harder to pin down. connell: yeah. >> i mean that in a good way. he hasn't been defined politically the way some of these other people have. he has had some well-known
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successful run-ins in the government, securities & exchange commission specifically. connell: talks about having a libertarian streak, something along those lines. >> yeah. i think he has more potential depending where he wants, how he wants to present himself to cross party lines in his appeal. connell: any nba referee will tell you he would be tough. we'll see. what a race. james, liz. melissa: sounding the alarm on alexandria ocasio-cortez. how the freshman congresswoman and her chief of staff may have violated campaign finance laws to the tune of nearly a million bucks. divided on amazon. local leaders in virginia split on the company's second headquarters in the state. what makes arlington different than new york? ♪
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new york city and amount of taxes that i've been adding up compared to florida is an absolute joke. very simply, capital, people, money usually flock to places where they're treated best. of course except for me and my wife who are coming up there for the cold weather. melissa: her mom has a different idea. this is the quote, that she gave. she said i was paying $10,000 a year in real estate taxes up north. i'm paying $600 a year in florida. it is stress free down here. that is what blanco alexandria ocasio-cortez told "the daily mail" from her home in florida. james, i feel like a chump. because i am here in new york city and as alexandria ocasio-cortez wants to raise all of our taxes her mother is smart enough to run for the his or florida at least? >> yeah. i think i'm ready to vote for her mom. maybe she will move back up here and consider running on the campaign bringing competitive tax rates to the northeast.
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it is, obviously, not just her mom, it is many people. this is the blue state problem. we see it in new jersey. i heard from a financial advisor last year, saying his clients were fleeing new jersey like it is on fire. it is a, it is a problem but, perhaps some family gatherers they can discuss the benefits of tax competition. melissa: that would be wonderful. maybe her mom could help her with that. congresswoman alexandria ocasio-cortez is denying violating campaign finance laws after a conservative watchdog group filed a complaint with the federal election commission accusing her chief of staff of funneling nearly a million dollars into an llc. james, let me ask you, this is specifically what happened. they raised money through a pac. this was controlled by her multimillionaire chief of staff who is a tech wizard of some type. he set up the pac according to reports. and then he moved the money from the pac into an llc that he also
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controlled. and i'm trying to figure out why you would do that. because if you control both places the advantage of an llc is that it doesn't have the same kind of restrictions on how you spend the money in a campaign. there are not the same kind of disclosures. there are not the same kind of limits when it is coming out of an llc. are there any other reasons you can think of it to do this if it wasn't less oversight and more freedom with the honey? >> certainly the individual campaign candidate vehicles are the most tightly-restricted. so i think she is probably going to have to explain this structure and not simply in a tweet that tells people she is in charge now. so it is, if you think about it, the limits on how much candidate campaigns can raise and the disclosure requirements are much tougher than for pacs. if those, if those political action committees are actually not independent, but controlled
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by the candidate, you have a lot of potential problems as some former republican, fec commissioners noted this will have to be addressed by congresswoman alexandria ocasio-cortez, probably not simply on twitter. >> james, gary, thanks to both of you. >> thanks. connell: we'll get to the devastation in alabama. rescue crews searching for survivors after the deadly tornado ripped through the state. dozen of people are not accounted for. we're live from the scene next. ♪ the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story.
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>> it has been a tragic situation but a lot of good work is being done. we're in constant touch with the governor and also the governor of georgia and, so we'll going
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to the area. be in alabama and the general area. melissa: president trump heading to alabama friday as rescue crews continue to search for survivors. fox news correspondent jonathan serrie is live on the ground with the latest. jonathan? reporter: melissa, this is just one example of these hard-to-reach areas they have been searching. this mobile home turned over on its roof during the storm. the coroners released the names of all 23 confirmed victims who lost their lives in the storm. with all the damage there is still potential for others. authorities continue searching devastated areas for residents who remain under accounted for. >> current number we're looking at, 7 to 8 people come down, way down from what we initially had. that effort will continue today. hopefully the number will continue to decrease as the day goes on. reporter: crews are working to clear debris and trees from many neighborhoods in the areas of
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storm. we flew a drone over unincorporated community, salem, alabama. you can see mobile homes torn to shreds. furniture, belongs, scattered with downed trees. mike rogers turned other lairs of lee county and smith station mayor, bubba copeland. >> it is horrible when anybody loses their life in a storm like this. children, it breaks my heart. reporter: the storm getting attention from both sides of the aisle, most notably president trump making that announcement this afternoon. he will be visiting alabama on friday. melissa. melissa: jonathan, thank you. connell: committed from the start. a group of local ceos standing by amazon and its growing footprint in arlington, virginia, but will the region suffer the same fate as new york? we'll talk to one alliance leader who is confident the e-commerce giant is there to stay. ♪
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>> and a top effect alexandria ocasio-cortez putting the deer the congresswoman will support amazon 's returned to new york if the process is done right and there is community done right. this comes as top business officials in virginia are ready to welcome the amazon second headquarters in their neck of the with peer were joined by
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jason miller now, see of the greater washington partnership organization. jason, thank you for coming on we appreciate this from every angle we have a local elected official from your area recently that was basically making the augment looking at the numbers. the economy is very strong. the underpayment rate in the general areas under two percent. we just don't need amazon, we don't need the jobs. so, take it from there. >> look, thank you for having me on. if you look at this region, the capitol region, baltimore, washington and richmond is the third economy in a state has an incredible workforce, it's actually the third largest workforce in the us. but if you look at the economy performance since 2012 we been slow growth. 1.2 percent growth, slower than other areas it has a real impact. >> why is it? what is the reason for that?
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>> some of it is an overreliance and some of it is if you just look at the start up ecosystem here, despite the talent, despite diversity and workforce, despite the strong acids, we are not performing to our potential. that's why in part it is so important. it is about more than the 25,000 amazon jobs. it is about reshaping the trajectory of the economy going forward. >> how is it on the messaging front? i mentioned congresswoman cortez. she is kind of flipping it sounds like a little bit of what she said earlier but her point now, if the community input, therefore i'm up for it. what about the relationship between the community and making the case for amazon? >> yeah, i mean, you start the process before the announcement is been brought support here. some of it is due to recognition that the economy needs the jolt. it is more than the 25,000 job , it's about diversifying the economy.
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if you look at the process itself, when there are 20 finalists, three of them in this region. maryland, virginia and it is important, the two governors came together, they wrote a letter to amazon that said, irrespective of which of the three of us you choose, if you come here, that's important because they recognize the benefit of the region but also important in the region coming together to tackle issues like transportation, talent, issues that existed a respective whether amazon was going here anything it gives us the catalyst to make even more progress to request lasting real quick we have maybe 20 seconds. march 16 from what i understand there's a big county board meeting. any worry about that? kind of what happened in city council here. >> look, i think the support here has been consistent. i think the support here has been broad-based. a lot of investments being made i think this is something misunderstood. the investments that are being made are in the workforce system, transportation projects, the community has long wanted. it is a big potential benefit to the economy. it is about more than just
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direct jobs. thank you for coming. we will continue to follow the spirit. >> thank you. >> i hope the message gets out. >> we will see. but it sounds like they are doing a better job, right? >> i hope so. that does it for us. >> yes it does! bulls and bears starts now. >> wall street in the crosshairs. house democrats proposing a new plan tonight to tax the wealthy setting their sites specifically on financial transactions. we will look at the impact this could have on the future of investing in america. hi everybody i am david asman. this is bulls and bears.join me on the panel take, -- dowson democrats unveiled their plan tonight led by oregon congressman, peter defazio it is his bill. it is cosponsored by alexandria ocasio-cortez and a dozen other democrats from the house financial


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