Kevin cirilli has been covering this out of washington dc and a lot of moving parts as we try to get to some sort of resolution. Anna a lot of moving parts and interesting to see what they changed if they change much. Is it broader changes the have made and how hard is that go to get those on the republican side . David of very near margin that Mitch Mcconnell has to work with. He can only have two people vote against that legislation. President trump travel ban does going to affect for some travelers. Greg, great to speak with the. You. The last day for the court to hand down in opinion on this term. What did we learn from the court today on where things go from here . Greg in addition to the travel an, they agreed to hear case involving gay rights and religious rights, involving a colorado baker who says he cannot have to make cakes for gay weddings. It looks like it will actually meeting at theng super court. Anna i noticed attorney general Jeff Sessions making a comment that the doj is arguing the travel ban case. What is the timeframe here . Are we at the end of the story or do we have more arguments to hear . Greg somewhere in the middle of it. The court agreed to hear arguments today and those will not happen until october. Because the travel ban is only supposed to last for 90 days, its not entirely clear what will be left for the court in october. One possibility is that donald trump the ban also includes a review of the vetting procedures. After that he may decide to put a permanent ban into place and we may have new litigation over that. We are not at the beginning of the fight or end of the fight that somewhere in the middle. David i noted in the presence response that he referred to it as a travel suspension or refugee suspension. He said, my number one responsiblility as commanderinchief is to keep americans safe. Im particular gratified that the Supreme Courts decision was 90. Help me with one piece of semantics here that it applies to everyone except with a credible claim of a bona fide relationship o with a person or entity in the event United States. Greg it might be up to the lower courts to sort that out. If you have a Family Member or a student who has been accepted to a university, then the travel ban cannot apply to you in the short term. If you do not have any relationship with the United States, then it does apply to you. They may be hard to figure out exactly what side of the line somebody is. We are going to have most likely additional fights in the lower courts over exactly what that means. Anna it could take 90 days for the courts to work out exactly what that phrase means. Obviously the president has responded in a positive tone, calling this a victory, but there were areas he was defeated on. There were some areas of the travel ban that he was not able to bring forward. Greg people on both sides are claiming at least a partial victory here. It depends on where your starting point is. If youre looking at what has happened in the lower courts, the president has lost repeatedly in the lower courts on this. This is partial indication for him because part of it will be able to go into effect. That said, you look at it from the beginning when he put the span outcome a significant portion of it is not going to be able to go into effect at least in the shortterm. David what you make of what happened here with justices alito, thomas, and gorsuch, saying the whole thing should be left in place . What does that tell us about the configuration of the court right now . Greg it tells Us Donald Trump has three solid votes it the Supreme Court rules on the solid merits of this. Is thatlearned today Justice Gorsuch is very conservative. He is aligning so far with Justice Thomas as much as any other justice. That is a solid core of three conservatives on this issue. And looks like donald trump will start from there. The question is where the chief justice and Justice Kennedy are. Us, greg store joining bloomberg Supreme Court reporter. A lot of news today and how much it has impacted the markets, julie hyman is here with the latest. Julie kind of a confusing day to be the honest. Bouncing around not just on the macro level but among individual stocks and sectors. Right now, the nasdaq slightly lower in the dow and s p higher by 2 10 of 1 . We do see some lagging in technology today. Imap, look at the specifically tech is at the bottom and health care is at the bottom. That has been consistent for the last hour or so. Energy has been all over the place today. Utilities and Telecom Stocks leading at the moment. If you look specifically within utilities here today, we have first energy rising. This is the best performer in that utilities index. Upgrading the stocks to appear perform from underperform after analyst say they see upside with the wounds of the companys merchant power business priced in and reducing its exposure to that business. If you look at the energy industry, even that Overall Energy indexes little changed. There are some out performers today and crude oil is up three quarters of 1 . Natural gas is really ripping today, up by more than 3 on the outlook of warmer weather coming to the northeast. And one ok are trading higher. It has been raided a new hold, some not terribly bullish on the stock, but it is rising. Finally a look outside of stocks at the 10 year and the dollar, we have durable goods coming in and falling more than estimated in may. The 10 year yield which was down two basis points has trimmed that decline in yield. The dollar is a little changed. This is one of the things that was feeling the game in utilities, but even now that is moderating. David thank you very much. Julie hyman with that markets update. Coming up, Senate Leaders posting the revised version of the Health Care Bill. What has changed . We will have details on the breaking news up next. This is bloomberg. Anna welcome back, everybody. This is Bloomberg Markets the trump economy. Im now orders. Anna edwards. David im david gura. Lets get a check of the first word news with Mark Crumpton. Mark the Supreme Court giving President Trump a partial ban. Ry on that travel a limited version of the ban will go into effect and will hear arguments on the case in the fall. Clarence thomas, samuel alito, and neil gorsuch said they would have let the entire fan take effect immediately. And a Statement Released by the white house, the president says the courts decision todays ruling allows me to use the important tool for protecting the nations homeland. The Supreme Court has refused to consider loosening restrictions on carrying guns in public. The justices rejecting an appeal by gun rights advocates in california. They declined to carve out new constitutional protections for firearm owners outside the home. In london today, the british Prime Minister theresa may has reached a governing deal with Northern Irelands democratic unionists. She needs the Party Support on key votes after her conservatives lost a majority in parliament. The two sides agreed on extra funding for Northern Ireland and on payments for the elderly. The president of cyprus has rejected a United Nations document that was supposed to act as a guide during the crucial peace summit later this week. The nations president says the document disregards issues of essential importance to the Greek Cypriot side. It will concentrate on the table issue of how security will be overseen if and when cyprus is reunified as a federation. Global news 24 hours a day powered by more than 2700 journalists and analysts in 120 countries, i am Mark Crumpton. This is bloomberg. Anna lets get back to the breaking news. The senate providing a text of that revised Health Care Bill. Lets head to kevin cirilli. He is with us on capitol hill. Kevin, good to have you on the program. What is the biggest difference between what we heard before the weekend and what weaker now . Kevin the biggest difference from this piece of legislation put out by Senate Majority leader Mitch Mcconnells office literally just minutes ago is that it is going to incentivize and encourage americans to Keep Health Care insurance. You will remember that the original proposal scrapped the obamacare individual mandate. All eyes are heading to the conservative senators, like rand paul and ron johnson, who oppose this piece of legislation. They say its not conservative enough. Then you have moderate senators like jean heller, the latter who is up with a tough reelection fight in nevada, a purple state. The Majority Leaders Office looking to make some tweaks before the Congressional Budget Office scoring expected to come out this afternoon. He is still pushing for a vote later this week, but its very unclear whether or not he has the votes to do so. To those forreturn conservative senators when they announced their trepidation about this piece of legislation. They intended to Work Together to make changes to the legislation. How effective are they doing it . Kevin when you talk to conservatives, this is not what they had campaigned on during the election for the past eight years. You talk to more moderates and they have issues with the defunding of planned parenthood. They have issues with the opioid treatment, which is nowhere near the 40 plus billion dollars they are hoping for. As folks continue to have negotiations, the majority leader is going to have to wait before so conservative senators against the four so moderates. He can only afford to lose two votes. This is like political deja vu all over again with what we saw in the house of representatives. I can tell you i spoke with a political advisor to the white house, who tells me the white house is going to be all in it and helping to get what they feel is senator heller across the finish line. They feel if they can get senator heller, they will be able to attract other moderates on board. Anna i read a Bloomberg View columnist describing the plan we heard about at the end of last week as obamacare light because it did not change the fundamental underlying structures of what is in place here. Still absolutely no way it wins over any democrats. Kevin calling it a obamacare light is no way that you are going to win over any democrats or any conservatives. That is where someone like senator ted cruz, who has been silent recently has really emerged as someone who is going to be working with this white house. I can tell you that the folks im talking with in congress are relying much less on the white house for policy conscription and more on the office to craft this piece of legislation. In terms of politics and campaigning, there are definitely people like senator heller who have lines of communication open with the wesley. David that is kevin cirilli, chief washington correspondent joining us from capitol hill. For perspective of the repugnant bill, jan brewer. She is now urging congress to save that expansion. If this is a piece of legislation, is this a bill that you can back . We all know that we expanded the medicaid portion of the Affordable Care act here in arizona and it has been very successful. In theblem with the bill way that i see it is the simple fact of the matter is that medicaid was established to take care of those in our community that arent the most vulnerable. Bill that has been presented, it will cut back. , everybodyse Medicaid Program is different. First and foremost, i think they better slow down and give this some thoughtful consideration. Maybe even separate the private sector employer self bought insurance from the medicaid portion of it. We all know that there are no free lunches. Going to pay for something somewhere along the line. If the federal government takes away the federal money to the states, then we have uncompensated care taking place at the hospitals. And then that Hidden Health care text that we all have talked about, what it ends up doing is costing us as personal people with their own policies and the employer with their policies to pay for that uncompensated care. Anna your state benefited from enhanced federal support. Mitch mcconnell is clearly listening at the moment for those who want a rewrite. Do you think there is any chance for this kind of legislation coming back . Jan i would assume that Mitch Mcconnell would not take this to a vote unless he had the numbers or the votes for it. I think there will be some heavy negotiations going on. It has been set by so many people that we all understand its very difficult. There are no free lunches. If youre going to provide care for the most Vulnerable People in our country, then they have to come up with a solution. I do not think there is one solution that fits all for every state. Theres no way that in arizona they are going to be able to come and expect our legislature and our governor to raise taxes to subsidize what they have been receiving. We know they are facing it in, but things change. David when we ask you decided to expand medicaid. Walk us through your thinking since then. Im sure youve talked to other republican governors and politicians since then. Why was that a decision you made . Jan the bottom line in arizona is that we are on a capitated service and we deliver the Gold Standard as far as medicaid is concerned. We had a voter mandate saying that we had to take care of the people up to 100 . We were way above the 80 and i looked at it and we had people out there at one point in time that i had to take off medicaid that needed treatment to save their lives, people with heart problems and cancer, etc. I had to get a consideration to expand further. We cover 400,000 people. And was taxpayer dollars coming from arizona that was going to the federal government. I thought im just going to bring them back to arizona. Washington to california or new york or nevada . Lets take care of our people. There are no free lunches. No one is going to get care unless somebody along the line is going to pay for it. Or Emergency Rooms now are anna your view is that they will end up paying the bill, i suppose. We have the ceo of johnson and he on earlier today was saying this is a shortterm focus around this legislation, but this is a 10 year to 20 your project to get health care right in the United States. What would your assessment be . Jan i agree. Its a, very difficult and it will take time. Everything you do will have pickups and it. Theres always winners and losers in anything that the federal government or any government does. Its not an easy job. They have got to be cognizant of what they are embarking upon. Every state is different. Trying to fixof it so quickly without us knowing exactly what the real costs are until we hear from the cbo and the length of time. And then postponing it. Get it done so everyone can get reelected and then get the hit. It really concerns me. Anna thank you very much, former Arizona Governor jan brewer. The headline just crossing the bloomberg now is the stada tender offer that fails to meet the merger target. The minimum acceptance threshold was not reached. The termination will not affect the 20th 19 gross targets says the company. It manufactures pharmaceuticals in germany. Still ahead on the program, u. K. Prime Minster Theresa may says he will guarantee the rights of u. K. Citizens and law, after she seals the deal with the p. M. Rn ireland this is bloomberg. David this is Bloomberg Markets the trump economy. Im david gura. Anna im anna edwards. Lets talk about u. K. Politics at the moment. Theresa may has struck a victory to keep her group in power. Powerrn ireland unionists will stick with may on key votes. She talked about the negotiations and the future of eu citizens in the care. We think of this as a fair and serious offer. In theigations withdrawal treaty with the eu will be binding on the u. K. As a matter of international law. We will incorporate commitments into u. K. Law, guaranteeing we will stand firmly by our part of the deal. Anna lets get some insights now. The Bloomberg News managing editor for brexit joins us now from london. You today. T to see they we learn anything new on the subject of eu rights to the did we learn anything new on the subject of eu rights . With the European Commission wants to hear some jurisdiction for the European Court of justice. We certainly do not hear about that today. Simon the signal was at this stage that the british are not interested and they do not have any say over british law the on brexit in march 2019. She fleshed out some details on what she laid out to the eu leaders, but again she received short shrift from the eu. Thatu negotiator tweeted she needed to show more ambition if she is set to find a deal. The two sides are going to have to go a few rounds on this issue. Anna certainly something to be negotiated. She wantse lines that to be heard by the eu residents and you cap in the u. K. , but the dep deal was a longtime come ing. Still negotiators in Northern Ireland was one of the. ,m. Simon it has been a few weeks since the election and they wanted to have a packed the tween the leaders before the middle of this week when her legislative program goes in front of the house of commons. Lawbreakers 10 lawmakers the dep had. The dep knew it was in a good position to push for money and promises on brexit. Both parties agree that brexit is a good thing, but there certainly concern within the irish cap about just how hard the border will be. They certainly used the leverage they have over theresa may. She got the deal she wanted in the end though. Anna she will need a at the end of the week. Thank you very much, simon kennedy. David coming up, President Donald Trump calls indian Prime MinisterNarendra Modi a true friend before they visit at the white house today. With the two leaders will discuss what the two leaders will discuss next. This is bloomberg. David this is Bloomberg Markets the trump economy. Anna now lets check on the first word news with Mark Crumpton. Mark republicans released a slightly revised version of the Health Care Bill as Mitch Mcconnell tries to win over the holdouts to pass the measure. The most significant changes the inclusion of a new provision to allow americans to maintain Continuous Health care coverage. The provision would impose a period foraiting anyone with a 63 day break in coverage. It did take effect beginning in 2019. President trump is said to be eager to have a big meeting with Vladimir Putin in germany. The Associated Press has said that mr. Trump wants to have all the diplomatic bells and whistles when they meet at a multinational summit. Some Administration Officials reportedly believe the meeting should be low key and its of that investigation into russian meddling. The french president says that further peace talks over the ukrainian crisis will be held in the coming days. His comments follow a meeting in paris with his ukrainian counterpart. A phone call between the leaders of france, germany, ukraine, and russia will be scheduled by the end of next makein an effort to tangible progress. The pentagon warns that missile threats are surging worldwide in a report says that acknowledgment from ballistic and cruise missiles is increasing in north korea, north korea, and russia, boosting the threat to the u. S. , even if they dont carry nuclear warheads. The former president of brazil still leads in that country bus president ial race, despite a pending Court Decision that could ban him from running. According to a new poll he has received about 30 of first round voter intention. Lula has been accused of receiving benefits from a Construction Company in exchange for granting favors. He denies the allegations. Global news 24 hours per day powered by 2700 journalists and analysts in 120 countries. Im Mark Crumpton and this is number. The indian today Prime Minister will meet with President Donald Trump over the weekend trump. Over the weekend trump tweeted that he looked forward to welcoming him to the white house. For more head of that meeting lets bring in our white house correspondent. Great to see you today. Meeting with a true friend, but i understand they have never met. Is this going to be big picture getting to know each other stuff . Or are we going to be seeing deals on trade and visas . There will be a little bit of both. A meeting in the oval office, joint statements in the rose garden, and then a working dinner, the first working dinner at the white house with another head of state. Getting totting together a lot of getting together on deals like h one the h one visas and drone. Urchases the indian Prime Minister is going to need the signoff to get that to move through. Theres a lot of business for them to discuss but since this is the first time for the meeting, the will be a lot of them getting to know each other over the course of the day. Do we expect much comment on the relationship with pakistan . Thats another very important issue that they will be discussing. The Trump Administration is still trying to formulate its middle east strategy and part of that has flown under the radar for the most part as the Trump Administration dealt with syria and iran, thats the u. S. Relationship with pakistan. A fraught relationship. Pakistans relationship with india is also very fraught. You can expect the Prime Minister spending a lot of time and understand what the Trump Administration is going to do about pakistan. Is not a Cohesive Strategy that has been laid out publicly right now. Behind closed doors the indian Prime Minister is going to try to hear more from them. Anna i understand the United States runs a sizable deficit deficit in trade with india. If there is a deal to be done, it involve a deal opening up with the United States . Toluse thats right. With trump you have make it in america. The Prime Minister in india has a make it in india focus. Thats a backandforth they will focus on, but right now there is a trade gap and that is something the Trump Administration has pushed against and called for other countries to open up and they can expect trump to make that pitch today. Joining us now with more on that important meeting today and whats next for u. S. India kositsky. , sasha riser let me just start with where we picked up on trade. How do you expect the Prime Minister to respond to what they may say about the trade deficit . Sasha thank you for having me on. On the issue of the trade i think that there is very little that india can do to reduce the bilateral trade deficit, given that a lot of those results in the u. S. Purchases of indian services. So that could be one area. We know that President Trump is not shy of saying what he thinks in terms of these relationships. Im reminded of them nato summit where he wasnt shy of saying what he thought about the relationship. What about visas . Will be beginning any progress there . Trump has said he wants to replace that and is not something the Prime Minister wants to hear. Sasha certainly not. I doubt that we will see much progress on that issue. In part become because trump is hamstrung by his campaign promises. The number of pieces of pending legislation proposed by many that wouldmembers restrict the program in various ways. They would all be net negative for Technology Service providers. What kind of relationship did President Trump inherit from his president predecessor . Sasha its grown stronger over the past several years. Improving those relationships, it goes back to bill clinton and was carried forward under george w. Bush with the deal in 2005 in 2008 and then carried forward i obama. The indians are hoping that trump will continue the tradition. I understand it anna i understand that there was concern that they had fallen between the cracked in getting the white houses attention. Is this something i guess the delegation wants to put that right today . Sasha absolutely. In fact we had heard that there were some discussions in the Indian Government over the timing of the visit and maybe e arguing now that trump that modi should have made an effort to visit earlier in the terms similar to what we saw the leaders of china and japan do. But better late than never. Executivethe Old Office Building there are officials planning next steps in afghanistan. I imagine that this is something the indians care about. What is there take on what they think should happen in afghanistan . It would essentially argue that pakistan is the root of the problem and that the indian view is that the pakistanis are supporting the taliban and and other antiafghan government groups, making it more difficult to realize the peace and security in the area that the u. S. Has been trying to accomplish since 2001. Theindian view would have u. S. Take a much harder line towards pakistan than it has traditionally. Anna professor, how strong is modis position at home . Maybe he hasnt been delivering as much reform is people fought . Decisionmaking thats going on, sales tax reform, maybe some of the hard stuff has not been tackled. What kind of mandate does he bring with him from india . Sasha he is stronger than ever with his party win from march. We see him using that Political CapitalGoing Forward fairly annette facing an facing a National Election in 2019 that he plans to win and taking bold, controversial steps on labor reform, being bold and generating opposition but thats not on the agenda right now. As we have long argued at the eurasia group, modi is more of a probusiness politician done a pro market politician. Play out inn that the policy steps they have taken over the last couple of years that hes been in office. Anna ok, such a, thank you very much. Sasha, thank you very much. Sasha riserkositsky, of the eurasia group. That statement is due to the. Today. Still the gum, no secret that trump has stacked his administration with Goldman Sachs the lumen i. Illuminati. Its safe to say that we are joined by bill for that conversation. This is bloomberg. David welcome back, anna welcome back, everybody, this is Bloomberg Markets the trump economy. David julie . Julie we have some movers we want to touch on here. This reporting that he self driving car unit of alpha that reached an agreement for avis budget to manage its fleet of autonomous. It does seem somewhat limited at this time, though it is the first deal of its kind. Its just going to take place in phoenix and it is not exclusive. Nonetheless, budget shares of avis are surging by 11 . Hertz global, its competitor, is up 11 . Tesla turned lower after this headline crossed, off by 1 . We are seeing another Ripple Effect happen in the Real Estate Investment trust industry. Ford capital, focusing on commercial real estate for owners of restaurants and some retail, Berkshire Hathaway, taking a 9 stake in the company , issuing 18. 6 million shares to Berkshire Hathaway at a discount to where they are trading today. Are seeing others, particularly those in the retail. Ndustry, rising cb Richard Ellis is on the rise. Then there are some headlines that have been crossing about the right eight pending acquisition by walgreens, sending others in particular up i24 percent. ,his was a report by see tfn speculating that it was more likely than not that they will approve this acquisition, the story exciting various antitrust lawyers. Bloomberg reported earlier in june that this deal was not likely to be approved, so there has been a lot of backandforth about it in some degree of pessimism surrounding it. Interestedhe other already here, it is set to acquire a number of locations from rite aid as a condition of the deal. Thats david thats julie hyman, appreciate it. Steve bannon is the white house strategist, barry cohen, steve powell, bill, and is a bloomberg tv exhibiting editor and has written an bill cohan has written an article. Its a great title. Noting the strongly antigoldman rhetoric used, how did he do this complete 180 degrees . Bill obviously he hasnt consulted with me, but my feeling is he had to show the Capital Markets that he wasnt a complete lunatic, you know . He said so many crazy things during the course of the campaign. In the hours after it looked like it would that he would win the election, the futures market headed down even further. What better way to calm them down than to say look, ive got these positions to fill, why not go to the best Personnel Office in the world, Goldman Sachs, and start taking from those people . And of course, since hes done that, i dont know the cause or the effect, but since he has the market has gone from whatever it is. Are Goldman Sachs and the Trump Administration closer now . There was talk before the election that goldman didnt do very much business with trump. Bill did any business with trump was the majority investor in a real estate up enterprise. Look at Lloyd Blankfein, who just started tweeting as a result of trump getting out of the paris climate accord, those have been very negative tweet. Leaderlankfein, as the and embodiment of the firm, is clearly against the Trump Administration. Anna but hes happy hes got his people there. Bill we talked about that. Id say it was a blessing and a curse for him. On the one hand, he knows gary, he can call him up. On the other hand ever since the financial crisis, goldman has been enduring a lot of the ire of the nation as a sort a sort of symbol of all that wall street did wrong supposedly during the financial lead up, its not like the old days when he could call of hank paulson as the crisis was unfolding. Scrutinizing things so closely, calling up gary or dena is not something he wants to be seen doing. David he said that he found a validating that as trump was looking for good people it was good that they had Goldman Sachs affiliations. What did you uncover or learn about the relationship between Lloyd Blankfein and gary cohn . Bill the newsworthy thing that i hadnt realized, and i have , he workedem closely against him for 17 years as a banker and gary very much wanted to be the ceo. He developed relationships with he tested withea the lead independent director and found it didnt go very well. Having had conversations with other directors, his method was message was that lloyd probably wouldnt be your forever. Is there a possibility that he could become the ceo . His possibility this was high and he didnt get the answer that he wanted and now he said hes available for other things. Know, trump wins and, you they came a calling and next thing you know hes National Economic adviser. These Goldman Sachs names, do they bring to the white house what you thought they would bring to the . Emphasis on competitiveness in a coop not collaboration . I think that was a low point for gary, in my opinion. Not a very collaborative approach, thats a more darwinian approach. I dont think it sets the right tone. Im not sure thats his proudest moment either. Frankly, again, my opinion, maybe i should not say this, but my view is that im glad that those goldman people are there house ore have got a we say unconventional white house and having conventional people around is probably a good thing. Bill, thank you so much. Appreciate it. Thank you so much for your time. The cbo has announced that they will release the report on the Senate Health bill this afternoon. We hear from Lindsey Graham in South Carolina on why he wants a more balanced approach to the system. This is bloomberg. David the cbo has announced that they will release the report on the fed health bill this afternoon. Met ller spoke with matt miller spoke with Lindsey Graham on that propose legislation. Graham we are down to one exchange in South Carolina, premiums have gone up 100 . What you have got with obamacare is you have mandated a policy that most businesses cannot afford to offer. The job coverage on their employees, they pay a fine, employees go into an exchange and commit 50,000 and you get screwed if you are a low income worker its for free. This has been a redistribution of wealth from the middle class and upper income americans to provide health care to lower income americans for free. What i want to do is have a balanced approach. Lower premiums for working people who make 50,000, meaning there has to be more efficient. The best way to lower the price of a car is former sadies and other german Car Companies to be able to compete with bmw on price and quality. Whats missing in medicine is price and quality. Competitions more but i dont know if they pass it. If we fail, heres an idea. 10 of the people in america, people with cancer, in the bad hand of health care, cap provide. What if you took that 10 population and put them in a managed care system that the government would share responsibility with the private take them out of private markets. That would do more to lower costs for the private sector than anything i can think of. The really sick people would always have coverage. They would have to pay based on their ability to pay but you take out of the marketplace the cost and if you had a managed care contracts you would get that are outcomes for the sick people. That would be my plan b. 2 nala matt thats not a part of the current legislation. How would you deal with the core the poor and the sick that need health care and can afford it . And push of the premiums for everybody else because they just show up in the emergency room . 2 competition is a good thing area senator graham competition is a good thing. High deductible policies make sense if youre young. Paying if yoube arent planning a family. More choice in the marketplace. With the essential benefit policy, is very simple. It should be offered but there should be tailored policies based on your time. If you are 21 or 22 out of theres more competition, more policies offered. Take the really sick people out of the marketplace and put them in a managed care environment so that there would be a collaboration between the state and the private sector, which should drive down costs almost immediately. Instead of just being in South Carolina. Matt as it stands this legislation doesnt have any of that erie it can you see it passing . Senator graham its unlikely right now. The entire federal revenue stream will be consumed by medicare and medicaid because those programs are growing so ist. Not to limit the growth completely responsible. Its not a cut. At that creates problems for some states. If we fail, plan b should be to let obamacare continue to collapse and see if you can negotiate with democrats and Health Care Plan for the really sick people in the country and move forward. That was Lindsey Graham earlier today at the bmw plant in spartanburg. David later this afternoon we will have full coverage of President Trump and Narendra Modi. Thats at 3 30 new york time. He will meet with him oneonone. There will be a bilateral meeting. Those are joint statements coming from those leaders at 5 15. This is bloomberg. Is 2 p. M. In new york, a level he am. Im scarlet fu. And im julia chumley. Welcome to Bloomberg Markets. Scarlet we are alive and bloomberg World Headquarters in new york over the next hour. Here the top stories we are following. Politics, Health Care Debate on capitol hill taking another turn. Mitch mcconnell unveiling a revised ill in an effort to sway six republican senators who oppose the first draft. The Supreme Court is handling the president ial victory, highlighting part of the travel ban, raising the question of who will now be excluded from entering the u. S. Avis, driving shares higher. They are now set to manage the fleet. Underarkets close in just two hours. Lets get a check on where stocks are trading with julie hyman