Republicans as he rallies support for the Senate Tax Bill ahead of a floor vote later this week. Its going to be a tremendous tax cut, the biggest in the history of our country. You have to pay a lot less tax. People have great receptivity. Weve have great spirit. I think that number will be substantially higher, but at these 4 trillion, which will immediately be put to work in this country. I think the tax bill is doing very well and i think republicans will be very proud. Maria the latest as the white house pulls all the stops to get this done by the end of the year. Marcus look like this. Dow industrial to a been a better than 30 points. Fractional move as the s p and nasdaq also in positive territory. In europe, look at the indices up again across the board. Ft 100 up one half of 1 as is the cac in paris at the third of a percent in germany. Meanwhile, in asia overnight, markets were mixed at the close reaching hack about that as is the cost in korea. Japan and hang seng flat on the session with a negative tilt. A dire warning over a possible holiday terrorist attack. Details of prices is heartening to strike new york city this christmas. Wells fargo in hot water this morning. The wall street journal reporting that anchors have overcharged hundreds of clients in order to achieve bonuses. The startling new allegations coming up against wells fargo once again. 30 now softbank to make an offer to buy the bread a steep discount. Breakdown coming up at a possible discount paragraph 9 in baltimore. Tom savage not pleased with the results. He walks out of the game. Weve got to highlight some of the lights and all the rest. After a fight i was off the chain, to nfl stars are suspended. Find out how one of the broncos and raiders will be without their players following sundays massive brawl. All those stories coming up. Fox Business NetworkDagen Mcdowell. Jon hilsenrath and rasmussen political analyst amy holmes. Great to see you. Good morning. Good morning. You detention of these Football Players and they took him off. Why would she take them off . You think they would leave them on. Turn to one the chain of the other now they are suspended. Dagen youve got to take the home it off if youre really going to fight. In hockey take the gloves off to keep your chin protected. Maria good point. Charles foster is with us this morning. Senate finance Committee Member rob portman is here. Speaker of the house Newt Gingrich along with fox news military analyst general jack keane is with us in skateboard legend Tony Bergmann hauck is with us. Good show ahead. You dont want to miss a moment. President trump spake to proceed janet yellen will be on capitol hill today. Jerome powell to tell the Senate Committee this morning that he expects the central bank to raise Interest Rates, quote, somewhat further and will consider ways to reduce regulatory burdens on banks while preserving reforms. Jon hilsenrath, what you think of this . You said before, his arduous janet yellen every time. Yeah, i think it is a smooth confirmation process. Hes been confirmed twice by the senate. Hes not the first choice of many republicans, but he said president s choice and they have no incentive to take a side on this. He will try and keep a pretty low profile. Maria one of the big talks in the markets has been graded me talk about it every morning that people are wondering is the next of 2 or 2. 5 . 2. 53 yesterday in the 5 00 a. M. Show the last gas when we started morning to korea talking about the money hitting alltime highs. You were getting paid to. 32 a year to live your money to the federal government. I am interested to see if the republicans grow jay powell the way they grow janet yellen another fed nominees under the obama greatest duration about the unorthodox measure the Federal Reserve has used still north of 4 trillion allergy to unwind that where he stands on the issue. One of the things he says in his testimony as hes planning and expect to them that the unwind phase started on the ballot sheet. The thing i will be looking for in his testimony is what does he have to say about bubbles . Bitcoin is only dagen hope somebody asks him about bitcoin. A one year shes getting all concerned about asset prices and if we get another bubble. Train to one of the players knee deep in it right now with funds and exchanges coming now. You have to wonder what is going on with this market and it is a fair question for jay powell in terms of valuations right now whether its bitcoin, straub prices, real estate. He would be the first fed chairman without an economic degree. This is the unconventional choice and there is some concern that there isnt a lot of information about how he might act in a crisis. Hes indicated he intends to keep a steady course for the fed, but they are saying we dont know a lot about how he makes decisions. Is a very pragmatic guide we can expect him to bring that into the seat kind of conventional when it comes to monetary policy. He never dissented in any of janet yellen decision she led. We can expect him to fall pretty closely to forecast the staff puts forward in the consensus that the overall committee. Democrats voted almost unanimously when he was nominated by barack obama. The president in 2012 and 2014. Again this issue going to be on the other foot now that the democrats hammer him during his confirmation process to make a show because hes been nominated by trump would they decide. Were certainly going to see some of them. Maria they get involved in every meaning of everything. Look at the Consumer Financial protection for your end the fight thats taking place there. They cant stop him in this place because of the 50 vote margin. Maria i think they can put her finger on the right to unionize this Balance Sheet. This is a completely different scenario. They may make noise about that. Dagen weve had discussions about this. I do think it at the Federal Reserve can say with 100 certainty they know what the impact of you with all Financial Markets as they begin to unwind. Unprecedented measures means an unprecedented rewind unwind rather. Is started in record highs. The market knows whats coming on this front. Trying to be so unpredictable. Trade to this guy to be transparent. So unpredictable Interest Rate increases has grieved. Try to defect a housing bubble and it didnt work. The banks came up with a new. Dangerous ways to keep the mortgage bubble. And led to another bubble and thats why went to hear what he has to say about bubbles. We could be getting an asset bubble as we speak. Maria that is 9 45 today. Meanwhile, the president will be on capitol hill today trying to rally republicans around tax reform. A second republican senator now steve gaines of montana which dagen mentioned yesterday. He expressed his opposition bringing the number of gop senators close to the bill to two while other republicans are seen as potential notebook. Though in a positive sign for the trump agenda, rand paul is a yes on the tax bill. What do you think . Yesterday you said lets not forget steve tran pics of montana. Here we are right here another potential pushback. Maria steve daines, ron johnson who saved they are now, but their issue is with how passthrough entities are being treated in his tax proposals. These are fixable issues and i believe 100 of those will turn in two yes votes as they try and tinker with a passthrough. We should point out to 25 rate with a lot of guardrails in the house the rate for smaller businesses if you will over in the senate which actually looked better. A 17. 4 deduction for them would take their top grade down if you do the math 3120 so its a little bit higher. There is a maneuvering to be done with that if they get a little bit more give with the top rate that passthrough entities pay. Maria what about deficit hawks. Bob corker, just like him are the problems . They are saying that they will stand firm and they dont want to see the deficit rising after 10 years. Republicans have 1. 5 million limits. Ron johnson wanting to pull the tax on direction, but you know what, also the political reality, that this cannot be the senate beware the tax bill goes to die. They did a face plant on repealing reformed Republican Voters demand d. C. Action on tax cuts and tax reform and then republicans need to deliver. The republican wants to be the third senator who says no and derails the whole thing. There will be a lot of pressure in some of those faces on the screen to find some way to get this thing done. Bob corker is stepping down. Jeff flake is also stepping down. Is john mccain care . Is undecided on the tax bill, that he has a lot concerns about a lot of things in the plan. This is according to the wall street journal. You might say okay they dont have a lot to lose there, the senators also have a legacy and when they leave the United States senate did one of the type of the republican senator who tainted the tax reform. Maria you would think outcome of the u. Of c. Do you we would get a vote this week . Thats a very good question. Referred it to thursday thursday, delicate about in the Budget Committee. We have a couple of these republicans on that committee. Dagen real quick, and if you are worried about deficits, we will never get to even close a balanced budget if we dont raise the revenue in this country and that means beef up the growth of revenues last year, the annual deficit has gone up two years in a row. Revenues growing by 1 . Revenues grew by 1 in an expansion given the length of it growing at 3 to 5 . They are not. We need changes in the tax code. The Tax Foundation says the senate plan raises revenue by over a trillion dollars. That comes again to offsetting the cost of it, the 1. 5 trillion cost. The other point where he has made over an organic unity of the deficit you can never do unless you do something about bending and why are they senators talking about the spending . Or do growth is the priority. Then to generate world so they can pay for this thing from the tax plan, but at some point they need to shift and pettit. Social security and medicare. No doubt about that. We are bring you live coverage of jaipals confirmation hearing for a fed chair beginning at 9 45 a. M. Eastern right here on the fox news network. Stay with us as we watch jay powell in front of the senate and Banking Finance committee. Isis has released a propaganda poster warning of attacks during the Christmas Season in new york and across europe. Another black eye for wells fargo. Been cheated this time in the Foreign Exchange operations. Back in a minute. Tell me something good tell me that you love me the maria welcome back. Highprofile democrat. Cheryl casone with the details. Cheryl fox news has confirmed congressman Luis Gutierrez will announce his retirement today but it may not be done with all it takes. Luis gutierrez told fox news in chicago hes considering running for governor of puerto rico. Hes been one of the more highprofile latino politicians in the country advocating forcefully for immigrant rights. A second former staffer says congressman john conyers made an unwanted advance toward her. The deputy chief of staff rejected his offers a hotel room for sex. Nancy pelosi is backtracking on her previous defensive conyers did he said she spoke with him on the phone who allege congress harassed verbally abused her in a statement pelosi said i find the behavior is so then describes unacceptable and disappointing. Two weeks ahead of the election in alabama, republican candidate were a more taking the gloves off for denying he did anything wrong. The sexual abuse are a distraction created by his opponent. These allegations are completely false. They are malicious. I do not know any of these women, nor have i engaged, have i ever engaged in misconduct with anyone. The truth is, this is not really and at all. This is dirty politics. Maria at a campaign event, more reportedly pushed a fox news cameraman outside of the venue. Watch this. [inaudible conversations] a reporter from alabama treated video to be tony goolsby, the coordinator for americas campaign. He is the one that pushed the cameraman away. Finally, more disturbing news about wells fargo. The wall street journal bankers charged hundreds of business customers in transaction fees to chase their bonuses. For Foreign Exchange has been the Investigation Underway is wells fargo continues to deal with the aftermath of millions the phony counts for customers to shares of the bank down nearly 2 so far this year. Train do what you say to that . Theres a problem problem a wells fargo, Jon Hilsenrath. It does look like a problem not wells fargo. This comes after all the disclosure of the phony accounts. So the Foreign Exchange rate isnt a big business for wells, but you have to ask why they are doing this against customers backs. Maria yeah, looks like it was because of bonuses, but hard to make that claim. We will see about that. Well be watching. Soft pink sweet deal. Soft pink reportedly ready to make an offer, but they will do it at a steep discount of the ridesharing companys most recent 69 billion valuation. Weve got the details. Arrested for brawling. The chain grabbing site that have been on the field during the broncos raiders game. Well be right here. 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Reporter early investors accept this valuation. Heres the deal a couple days ago we were talking about the massive hack that affect a 57 million riders and drivers id uber and the question then was after the coverup, what does this do with the valuation of the company . There are reports that softbank, Japanese Companies still interested in buying some of uber that they will do so at a 30 discount. The evaluation of the company 68, 69 billion taken that down to 40 billion essentially what the company was valued at two years ago and has grown so much in the past two years. Theres some talk of an ipo coming in 20 night team. This could change the pricing of the ipo. More of a positive as part of the interest in softbank and others to the overt government, were board seats, less influence, the ousted ceo. We will see what these early investors said that this 30 discount. What is the value that this company quite frankly en masse, an abysmal year for them. Maria with the value of the investment . How much do they need softbank . How bad do they need to million dollars, which is another way of how fast are they burning through cash right now . What i can surmise is they want to find out how i. I would venture to say they need it. Heres my question. How are all of these attacks on uber, all over the world, howard that affecting the worse value if they have these the taxi commissions other cities. That is just trying to change some of the local laws so they can expand their business. The other issues, sexualharassment, decides to the culture. That he knew about this hawk for two months, one of the bigger knocks on the company because Everything Else going on on travis kalanick, but now the only disclosed that last week. Is all about transparency now. The political issue has been a fight that they have waged well from the fair founding and so this is a resurgence of some of these problems. Again, taking prisoners fighting that uber was really good at. I dont know what the different theaters that change. Maria will see about that. The placard valuation has plummeted. All these other places you mention is the issue obviously they will be dealing with that. Lauren, well be watching. Another nuclear test their. It has detected for north korean radio signal comes as Hillary Clinton astounded off on how the administration that north korea appeared intergalactic jam session. The album launched into space 40 years ago to know how he rocked can now be yours. Your story, back in a moment. The at fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Liberty mutual stood with me when this guy got a flat tire