Transcripts For FBC After The Bell 20171114 : vimarsana.com

FBC After The Bell November 14, 2017

To mark up its bill this afternoon, we are now hearing a repeal of of the Obamacare Mandate will be included. More on this Development Just breaking in the past hour. Attorney general Jeff Sessions grilled on capitol hill, what he is saying about a special prosecutor to investigate the clintons. Judge Andrew Napolitano is here with his take. David senators murkowski and collins are apparently going it vote for the bill. The dow recovering not quite enough to stay out of the red today. Down about 30. Go straight to Nicole Petallides on floor of nyse. Ge used to be a megastock. It has shrunk so much the past years, only counts for seven points of the dow but hovering near a sixyear low, right . The dow is weighted average, price goes down, value goes down, it will weigh less here on Dow Jones Industrial average. It is number one biggest loser in percentage terms. Down 12 in just two trading days as company cut its dividend unexpectedly. Everybody expect ad dividend cut but they didnt expect a dramatic overhaul. A lot of uncertainty surrounding. Well see if it bounces back tomorrow. A lot of talk about apple long term that may be the behemoth that will take it over years ahead at the t. Rowe conference. That is the talk today. Some other movers, ge, i noteds closing in the 17. 90 range. Retailers were so big today. Take a look at the move. Tjx, parent of tj maxx, new low as home depot hits new highs. Home depot up 1. 6. Advanced auto parts on quarterly numbers and outlook. Dicks Sporting Goods down, a mixed bag. Retailers, best buy, l brands, walmart, target, foot locker, abercrombie throughout the rest of the week. Well have plenty to talk about in the retail sector. David indeed, nicole. Thank you very much. Melissa. Melissa Senate Republicans adding repeal of the obamacare individual mandate to their version of the tack bill. Adam shapiro has breaking news on this story all day long. Adam, what can you tell us . Reporter well get most likely tomorrow morning the chairmans mark which will include the provision to repeal the individual mandate from the Affordable Care act. One of the senators, pat toomey from pennsylvania, who has been pushing for this quite some time issued a statement which he said, i want to read this to you. The individual mandate is based on a flawed premise that the federal post should make americans buy overpriced Health Care Plan even if they dont want it an cant afford it. This is part of the chairmans mark. It still has to get you there senate. Republicans are telling us, sources say they have the necessary votes. People like senator Susan Collins has not committed to a yes or no at this point. Were told from some sources that she might vote yes, if language from a previous bill she had put in to try to repeal the mandate were incorporated. Senators like Lisa Murkowski from alaska who we are told will vote yes. At end of the day democrats are preparing to battle about this they are furious it will be included. Here is what ron wyden, Senate Finance committee, ranking member, along with senator Claire Mccaskill had to say about changes which are coming. This redefines the scope of this markup. We didnt know anything about this. And that why it is so important that we get the time to address it. The the people this is going to hit, middle class people, that this bill was to be about helping. The way i get it, well make their insurance more expensive, create 13 million uninsured people, all to make sure that passthroughs get a five or 6 cut in taxes . Reporter so the bottom line is, that the chairmans mark, the Senate Finance committee chairman, orrin hatch will get a new mark tomorrow morning around 9 00 a. M. We will begin again with markup. Essentially, theyre moving to try to get this out of committee by the end of the week. Then perhaps a vote on the floor of the senate. Right after thanksgiving. Of course what is happening in the house, well start debate on their version of tax reform. That is going to start tomorrow with a potential vote thursday or friday. So this is all in motion. It is all in play. The mandate, the individual mandate repeal will be a part of the chairmans mark. Back to you. Melissa adam, thank you. Good stuff. Great reporting. David terrific reporting. Here is republican congressman trent franks from arizona. He is a member of the House Freedom caucus. Good to see you, congressman. The senate dropped the ball on Health Care Reform but kind of making up for it by putting the individual mandate or taking the individual mandate in to the tax bill, their version of the tax bill. Would the house do the same . Oh i think we would embrace that in a heartbeat. Am glad to see that they have done this. I said obamacare is the policy equivalent of the hindenburg. We cant do it any damage. It is complete utter disaster. This is move in the right direction. This will make the tax bill a much better bill. I have to suggest to you, be very honest, i didnt think we might, i didnt think there was a real possibility of doing this. Im very encouraged that we are. David were looking at some of the differences between the house bill and senate bill. Frankly there are a lot of things about the senate bill are discouraging to those that wanted simpler tax bill, keeping seven tax brackets. If you have a simpler tax code you need to cut those tax brackets. You guys cut it down to four which frankly wasnt that much. But they put it back up to seven tax brackets. Are you okay with that . No, im in total agreement with you, sir. I think we need to simplify this the good news, because were in reconciliation, because a tax bill fits through the byrd rule, we have the planets lining up, we might for once in a long time have a true Conference Committee between the two houses. That is how we teach fourth graders we do this in this country. We might actually do it. So i think there is a good chance we can rectify some of the senate shortcomings, embrace some things they have done to improve it. David as we are speaking, President Trump is flying back from asia. There is word that he is going to be meeting with House Republicans on thursday after he gets back. Can you confirm or deny this. Is that a confident al thing . Im just going to say as far as i know that is not confidential. Yes, that is the plan. David excellent. What do you think the president is going to do . Will he say in fact he is not happy that the senate plan has too many complicating elements in it . Well i think he will be more in line on that particular issue with the house than he will the senate. But im just of a great hope, momentum here will carry us into Conference Committee where we will really, truly find the best of both worlds. That is is all about. There is wisdom in multitude of counselors. A guy named solomon said that a while ago. He is considered fairly bright in retrospect. Im very hopeful, and i think that we do need to cut down the number of tax brackets. Simplicity is wonderful thing. The idea that most americans fill out a tax return on a postcard is something long overdue. David simplicity is one thing and so is money. If some of us paying a lot more than they were before, that is going to be a problem. Are you worried about some of those elements of the tax plan that might end up costing people more, or might delay the tax cuts as senate plan does . Of course i am. Einstein said make things as simple as you can but no simpler. Maybe we have to in this case be especially careful. Administration signaled where we keep the rates where they are, 20 for the corporate rate. Im hopeful, and i think, that the repeal of the individual mandate of obamacare is going to be a tremendous addition, and also give us greater flexibility to being able to fix some of the other problems. David by the way, you picked up votes in the senate. Senator murkowski is now apparently going to vote in favor of tax reform. Some people are looking at an issue that has been of great concern to her, the drilling, oil drilling in anwar in the reserve. That is apparently going to be reconciled now in the tax bill. Was her vote bought by that addition . Well i dont know. If we can drill in anwar, its a very good thing for america, that has potential the sail kind of reserves for america same kind of reserves has oil we get from saudi arabia. Its a big deal. Incidentally, important to keep in mind. The part of anwar we would drill, if you consider it in comparison it the entire reserve, like size after postage stamp on a football field. David i understand. It might have happened anyway because of the president s commitment to energy in this country, making it a major factor. However, the fact that it is going to be reconciled with the tax bill, it is on that news we find out she is voting for the tax bill, kind of sounds like a little horsetrading is going on. It may be. The way they got obamacare, Louisiana Purchase and cornhusker kickback. Those are positive things and make a stronger bill for america and pull as few senators on board im all for that. That is run of the things we run into trouble in the byrd rule in the senate. It takes away the lateral negotiating ability. That is first question i would ask, are they putting anwar in this deal will not be byrded out . Because the senate rules are pretty much put in place to make it impossible to do anything of consequence. David that is way things done in the beltway. Representative franks. Thank you. Thank you. Melissa President Donald Trump returning from the historic asia trip today, talking tough on trade and looking forward to a big week in tax reform. Blake burman with the latest from the white house. Blake . Reporter melissa, the white house has been so quiet last 10 days or so that will change later this evening as President Trump is back here. He will be back at the white house after whirlwind tour, 12 different days, indopacific region and five different countries. The president teased what he said is a major announcement either tomorrow or thursday as it relates to trade which was quite possibly the single Biggest Issue along with north korea, the president s overseas trip. Earlier on Board Air Force one, on the way back here to the white house, the president summed up trade discussions with other World Leaders this way. Well be fair, well be reciprocal, as i said in my remarks before. Well be reciprocal, meaning if theyre doing it, were doing it and thats the way it is going to be. Reporter you never know what can occur on long foreign trips and unexpected this time around dealt with three university of ucla basketball players. Those three student athletes arrested by chinese authorities accused stealing. Theyre on the way back home to the United States. President trump personally intervened in this matter asking president xi xinping for his cooperation. Here is president earlier today on that matter. That is a very, very rough situation with what happened to them. I was with them, yes he is, he has been terrific. President xi is terrific on that subject. That was not a good subject that was not something that should have happened. Reporter once the president touches back here in the u. S. , five hours from now, his attention will also once again turn right back around to tax reform, as you heard from the previous guest there. The president is expected to go up to capitol hill on thursday, coinciding with House Republicans and that vote there. David take a quick check on oil, closing down nearly 2 . This is the biggest drop in six weeks. After the International Energy agency said rising u. S. Shale production could keep a lid on prices. That is good for us, both consumer and producer in the u. S. Oil now stands at 55. 70 a barrel. Melissa. Melissa the white house pushing hard for tax reform. Were waiting comments from Vice President pence at the wall street journal ceo council at any moment. Well take you there live when it starts. David attorney general Jeff Sessions getting grilled again on capitol hill, answering a lot more questions on allegations of ties between the Trump Campaign and russian officials during the 2016 election. Melissa sessions also getting pressed whether he will appoint a special counsel to investigate the clinton foundation. We will play you his response. Wait until you hear what judge Andrew Napolitano has to say about this. He will join us next. We know one fact. We know the clinton campaign, we know the Democrat National committee paid for, through the law firm paid for the dossier. We know that happened. And it sure looks like the fbi was paying the author of that document. Anything worth pursuing hard work and a plan. At baird, we approach your Wealth Management strategy the same way to create a Financial Plan built to last from generation to generation. Well listen. Well talk. Well plan. Baird. The House Judiciary Committee finished grilling attorney general Jeff Sessions after five hours of testimony. Sessions answered questions about a range of topic including meetings with russian officials and of course that uranium one deal. Take a listen. I wanted to believe i would make clear to him that he was not authorized to represent the campaign with the russian government or any other Foreign Government for that matter. After the meeting, did you take any further steps to prevent Trump Campaign officials, advisors or employees from further outreach to the russians, after you stopped it, or pushed back at that meeting . What i want to say to you, you alleged there was some further cants later the i dont believe i had any further cants and i was not in regular cant with mr. Papadopoulos. David there was a democrat congressman from california pressing the attorney general about whether President Trump asked him the same thing he asked a former fbi director jim comey. Take a listen. Did donald trump ever ask you to pledge oath of loyalty to him . No. If donald trump were to ask you to pledge loyalty to him, would it take such an oath, would you do so . I dont know what a pledge of loyalty oath is. We all owe loyalty to our supervisors. I always done that to my boss and supervisors. So, you know, people are expected to be loyal to their executive branch head. David it was interesting, kind of footnote from the testimony. Sessions admitted to pseudonym for his email address like Loretta Lynch did. He said common thing for cabinet officials. There you go. Growing calls for special counsel. Attorney general Jeff Sessions pushing back on a special prosecutor to investigate actions by Hillary Clinton and former fbi director james comey. Doesnt that warrant in addition to all the things we know with james comey in 2016, doesnt that warrant naming a Second Special counsel as 20 members of this committee wrote you 3 1 2 months ago asking you to do. Well, mr. Comey is no longer director of fbi. Thank goodness. We have excellent man of integrity and ability in chris wray. I think he will do an outstanding job. He is not here today, attorney general sessions. You are im asking for a special counsel. Time for gentleman section paired. There is not enough basis to appoint a special counsel. Melissa so what would it take to appoint a Second Special counsel . Here is judge Andrew Napolitano, fox news senior judicial analyst. You have to love jim jordan. He gets right to the point. Really sounded like they were in two opposite political parties, not the same political party. Melissa yeah. Though i think they have the same goal. I dont think a special counsel is needed. What would it take to appoint one . Inability of the Justice Department ethically to prosecute the case because of some conflict, some highranking person in the Justice Department that has to serve as witness, like Jeff Sessions might be a witness for bob mueller. Might be a witness that would exonerate the president or a witness fill as couple little pieces of the puzzle. But i agree with jim jordan these things ought to be investigated. They ought to be investigated by the regular Justice Department. Melissa yeah. Independent counsels are dangerous. Melissa i know theyre dangerous. Of course the problem is you have people from one party in theory investigating the other. That immediately brings up, we dont punish our political enemies in this country. Let me take to you a little part of the exchange after what we saw, he said, this was jim jordan, sure looks like the fbi was paying the author of that document, the dossier, and sure looks like a Major Political party was working with the federal government to then turn opposition research, the equivalent of some National Enquirer story, into an intelligence document to take that to a fisa court to get a warrant to spy on President Trumps

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