It done by yearend. Futures this morning looking like this. We have a market thats mixed, fractionally lower but nasdaq showing gain, up 5 points. In europe, similar story. We have a pretty good rally for the ftse, up twothirds of 1 and dax in germany up a third of a percent. Cac quarante in paris is flat. In asia markets mostly flat. Best performer kospi in korea. Trouble tom price for use of private jet. The massive amount of money that hes agree today pay back. Email questions at 1600 pennsylvania after. Details as the white house is opening a probe into officials use of private email accounts and devastation in puerto rico continuing this morning. Acting Homeland Security elaine duke will travel to the island today as the federal government rushes to help those in need. The dire situation in puerto rico coming up. Standing for the anthem nobody knelt last night green Green Bay Packers and Chicago Bears. The impact as more protests are planned for the weekend. Talk about a streaming success, roku shares surged yesterday nearly 70 on first day of trading. Big ipo was big success there. All the stories coming up and joining me this friday morning fox business dagen mcdowell, blaze tv host Lawrence Jones and former economic adviser under president bush 43 todd. Dagen are you ready to talk taxes or what . Im ready ta talk about im ready to talk about taxes. Dagen thats pushback from democrats but a lot of republicans in the state. Maria we know congressman peter king has said my constituents are not going to be served well by this because if we eliminate this deduction the deduction of income and local taxes, state income, thats a big deal because taxes are so high in new york. Dagen im holding my amo so to speak. Maria the potential fourth bracket. All the stories as we continue to die sect the tax plan. Coming up this morning the director of management, Mick Mulvaney and Ricardo Rosello is here. Pushing tax reform. The president will talk taxes with the manufacture association before heading to new jersey this as proposed plan is facing first hurdle one day after it was unveiled. Gop lawmakers like california, new york, now expressing opposition to repealing the individual deduction for state and local taxes, but the president and creators of the bill say that this tax plan will spark the Economic Growth the country needs for everybody, watch. This is a tax plan for jobs and growth, growth for our country. Itll be the largest reduction in terms of dollars of any plan ever in the history of the country. Theres not complicated deductions and complicated special interests. We have to simplified system to collect taxes in this country. We redesign the code so our companies can compete and win anywhere in the world specially here at home. Those are bigbold changes. Maria joining us right now Fox News Contributor gianno calledwell, whats your take on all of this, according to tax policy center, repealing reduction would increase federal revenue 1. 3 trillion over the next ten years, can the bill pass in the house despite opposition on both sides of the aisle . I think it can, lets keep in mind i all the misfires with Obamacare Repeal and replace, this is the first time weve really come sincerely close to accomplishing one of the president s main agenda items of this bill which theres republicans about 52 republicans districts that would be impacted in those states mentioned earlier, california, new jersey, new york and other places and we have a 24seat majority. I dont think that we are going to allow this bill to potentially be derailed. Im sure that theres something, alternative thats going to come to the light because if at this particular point in time American People have been suffering so long for a tax system that hasnt been fair for us all, im sure that republicans will come together and make the changes that are necessary so we can see this bill passed and we can give the president a win and more importantly the American People a win. Maria dagen, how do you square this circle . The house wanted a border adjustment tax that was going to raise 1 and a quarter trillion dollars, now this deduction is raising 1. 3 trillion. Yesterday a couple of governors were tweeting, Governor Cuomo tweeted, everybody in new york is going to get a tax increase as a result of this, because taxes in new york are so high. Yeah, cut taxes, governor. Dagen theres a lot of debate and that is that people who live in say conservative states, for example, and states with lowtax burdens are subsidizing the hightaxed states, more than 90 of the filers with incomes over 200,000 claim deduction according to tax policy center. 38 of deductions value goes to california, new york and new jersey and just 21 of the u. S. Households are in those states. I will push back, they are basically saying, hey, blue state governors, you need to reduce the tax burden in those areas, but its not that easy and on the reverse, these red states, the republican representatives who dont like this state and local Tax Deduction, well, in terms of the income taxes paid into the federal government that we pay a lot more than we take. I say we, im in new york state. Red states in the south, for example, they take a lot more in federal spending than they actually pay in income taxes. Maria good point. Dagen if you want to talk about who is sharing the burden, well, it goes both ways. I can see senator ted cruz pushing back on this specially in texas where we dont have a state tax and i think the senator will say, hey, this is beneficial for our state but i think itll be pushed back to states like new york where they say, hey, we pay already too much in taxes, if we are not going to get deduction dagen if i hear more person to tell me to move exactly. Come onto texas. [laughter] dagen the studio was here. We have to live in new york metro area. Maria we are not moving. You dont want to do this by skype on your home in pajamas . How does this happen politically. Everybody knows that this is a controversial issue. The republicans have slim margin. President trump lives in new york and florida. Is it a surprise that this was an enormous hurdle . I dont think it got proposed in this matter. Maria do you think it will stop them from moving forward on tax reform . I think this could pass the house, im worried about the senate and then you have senator like john mccain and other senators that are talk about regular order. Theres an ideology difference than the democrats. Dagen the top nine states for the deduction measured as percentage of income represented by 33 house republicans, the republicans can only lose no more than 22gop votes. So there are more republicans from these hightaxed states than there are votes that they could potentially lose. They are not going to get it. Real estate industry is going to be pounding on this. Maria the real estate lobbyists is the most powerful. The House Freedom caucus supports this bill and one of the few that supported. When we talk about conservatives getting on board, likelihood of passing the house is great. Certainly there has to be reconciliation what happens with other states, something has to happen there, but this is still a bill and im sure theyll be amendments added later. We have to look at that and know that will be the regular order. Maria by the way, we are talking about high taxes. In new york we are talking about a 10 income tax state, right, and another 3 city tax. In california i believe its 13 . The state taxes in some of the higher they are significant. I live in california. Theres virtually theres virtually no Republican Party left and if this were to pass, well, there wouldnt be no virtual Republican Party left. There would be zero Republican Party left. It simply is not going to happen, Steve Mnuchin has to go back up to trump tower and figure out Something Else to come up with the money. Maria they need to find another place to find 1 and a third trillion dollars . Dagen where is that place . Maria where is that place . Dagen ultimately they might cap deduction, theres a limit to how much that you the take but the top 5 states in terms of what the largest and largest deductions for state and local taxes as percentage of adjusted gross income are new york, new jersey, connecticut, california and, oh, maryland. Thats where the media are based and will continue to get front page focus. Maria for sure. This is the hot potato of tax reform package. Tom price says hes going to stop traveling on private jets and reimburse the federal government for 50,000 for his seat on this private flight, price released statement, today i will write a personal check to u. S. Treasury for expenses of my travel on private charter planes, taxpayers wont pay a dime for my seat on those planes. Price has taken at least 26 charter flights since may adding to more than 400,000 according to politico. The secretary say that is he will fully cooperate with the Inspector Generals investigation but the president is not pleased with his actions, watch. As he has said publicly, he wasnt happy and he expressed that to me very clearly. How so . Just i wont divulge any personal conversations ive had with the president. Maria would this result in white house shakeup, are you going to fire tom price, he said, we will see what happens, and we know what happens when he says, we will see what happens. He wrote check back for his seat, that was the nicest thing ever. I worked for many elected officials at the state and local and federal levels and i can tell you specially when it comes to travel reimbursement and when you take advantage of the taxpayers, theres usually a large penalty and starts with Inspector General and in sometimes, it ends with the fbi specially me being from illinois. I have seen many fbi trips by employees of government. I think that in this situation specially considering how much press it may get and then that he did it, it could be some other things that he did tom price sitting in the middle seat in southwest airlines. Or being dragged off the next united flight. Maria yeah. Dagen defense with bret last night it was real wishywashy, i dont think im overstepping by saying that. This was approved and then there was he took a flight from dulles to philadelphia. How about taking the train . Maria i love the train. Dagen take the train for a hundred bucks. Maria there you go. Good to see you. Gianno calledwell, we want to tell you about the crisis in puerto rico that continues this morning. Aid is trickling in. Thousands of people lining up to board crew ships. We are tracking oil prices this morning. How recent hurricanes and plant ipo are affecting the market. Oil 51. 55. Back in a minute. Right here [vo] quickbooks introduces jeanette and her new mobile wedding business. 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Its so much easier so now, were ready, bring on t. Shipstation. The number one ch of online sellers. Go to shipstation. Com tv and get two months free. Maria welcome back, the Islamic State releasing recording of leader, he is apparently still alive. Cheryl casone with the story on that, cheryl. Can he recall cheryl officials looking listening to the tapes, 46minute audio recording First Time Since last november that supporters of the Jihadist Group have heard voice. Fierce bat until mosul. White house opening an internal investigation into the use of private emails by administration staff. President ial adviser Jared Kushner at the center of probe along with his life ivanka. Lawyer says emails were limited and not classified and forwarded to other accounts to be preserved. Other former around current officials being investigated, steve bannon, Reince Priebus and gary con and steve miller. Lane dukes visit comes after not responding enough to help the island. Hurricane maria devastated puerto ricos infrastructure leaving residents 100 without power, water, a lot of the water is now contaminated, we should say. The pentagon has named threestar general Jeffrey Buchanan in charge which are trickling into the island but thousands of people are trying to evacuate puerto rico and they jammed the dock in san juan yesterday, they were trying to get on a Royal Caribbean cruise ship. Well, you know what, did you happen to see the game last night . Cheryl thursday night football, every player on both sides of the field stood during National Anthem. Players and coaches were linked arm in arm some with hands on their hearts as Country Singer sang and a few fans did it as well. Solidarity after President Trump criticized players who knelt during National Anthem. After the song was over the entire stadium erupted in tears, we will see wh the weekend brings for football, maria. Maria remember earlier this week, President Trump tweeted that he spoke with jerry jones, they are going to stand and the ceo of the giants told cover of post, told the team, please stand, this is their, i guess, middle ground. Locking arms but standing for National Anthem. Dagen it does not benefit nfl owners, any lost viewer is ultimate lost revenue to the league. Maria absolutely. Dagen they are worried about it. Maria if advertisers start pushing out, the biggest most profitable part of television. Its important to know, maria, this protest had died before the president got involved with it. A lot of people didnt like Colin Kaepernick specially when he wore socks as cops depicted aspects. It was only 3 players that were kneeling and then when the president made his comments, i think the protests turned from the original movement to antitrump protest. Maria they definitely did. But at this point, i feel like the president is winning on the issue. Baseball and hot dogs apple pie and chevrolet. Over the last 20 years, nfl pushed out baseball, but now the nfl maybe losing its spot. Maria by the way, i didnt realize the Pittsburgh Steelers stadium where this first began, you know what the name of that stadium is called, soldiers stadium. Yeah. Not a good look. Maria coming up. Smarter, faster more intelligent who is winning the ai battle . Plus rokus rise show its muscle on first day of trading. We will be right back in a minute you know who likes to be in control . This guy. Check it out selfappendectomy oh, thats really attached. Thats why i rent from national. Where i get the control to choose any car in the aisle i want, not some car they choose for me. Which makes me one smooth operator. Ah still a little tender. vo go national. Go like a pro. Hey, hows it going . Um. Who are you . Im val. The orange money retirement squirrel from voya. I represent the money you save for the future. See . 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Highest level in more than five months. We want to bring analyst tom, thank you so much for being here. Nice to be here. Maria surprise move above 52 in the last couple of weeks. Yeah, actually theres two markets. Offshore where we got to 58 and 59, product on the water in the gulf of mexico and then theres the wti market which is oklahoma thats been depressed. You will see interesting things because of this. We exported 1 and a half Million Barrels last week, thats 1 and a half million more than we exported two years ago. That number is going to go up to 2, 2 and a half billion dollars a barrel, we will be throwing a lot of oil on the world market and depressing but raising the u. S. Domestic price. Im curious, there was a lot of talk when the Trump Administration came in specially when epa came in getting rid of regulations and my state has increase of fracking, what have we seen Trump Administration removing regulations, is it helping us . You know, its controversial but most of what he has done with fracking and some other things havent had an impact. I mean, our company has