Transcripts For FBC After The Bell 20171215 : vimarsana.com

In, whos out, and what is in the actual plan itself. How it will impact you and your family. Plus escalating criticism of the fbi is more evidence revealed of higher ups playing politics. President trump trying to boost the morale of the agency at the Graduation Ceremony today. What the president is saying now as we are learning about efforts to water down former fbi director james comeys statement on the Hillary Clinton email investigation. Among our guests on these issues, this hour, republican congressman tom mcclintock, steve forbes, retired navy captain chuck nash, Bob Goodlatte the chairman of the house judiciary committee. Melissa back to the markets, the dow ending the day at a new record close its 69th under President Trump. Can you believe that . And for the end of the year. 2017 is tied for most records in a calendar year. Nicole petallides, is floor of new york stock exchange. That is ominous. Tied with 99. The records for the dow, nasdaq, and s p. Were seeing 69th record close for the dow. It is interesting whether or not we break it, make our own History History here in 2017. Lets do it, i dont know. Im feeling optimistic. Spoke to teddy weisberg, he said, nicole, it will keep on going. People may think it will sizzle out. It will keep going with good jobs, retail sales. Tax plan looking like going through. Things overall looking good. Major averages for the week. Dow 1. 3 . Nasdaq 1. 4 . Dow, s p 500, up four weeks in a row. Nasdaq on pace for first up week in three. That is good news. We saw movers for the week, movers for the week. Disney, nike, pfizer, microsoft, intel, boeing. Those are some best performers this week t was easy to find names with up arrows and those that hit some regular highs. Microsoft, alltime high. Boeing alltime high. Just to name a few. Mcdonalds, united technologies. Have a great weekend. Melissa nicole, thank you for that. Getting close to the finish line, Republican Leaders set to reveal the final text of the compromise tax bill at 5 30 p. M. Eastern time right here. Go straight to blake burman with new details on the plan. Blake. Reporter brackets and incomes will officially be revealed in hour 1 2. We got a sneakpeek at them. Let me sort of give you the headlines from here. That is the first one being there will be seven different brackets. 10, 12, 22, 24, 32, 35, 37 . For sing fell filers this was the niche plan on the senate side. That stays. The difference the tweaks for those who are married filing jointly to the initial senate plan as well. The rates stay the same but where the tweaks are as far as income levels occur at that 165,000 and 315,000 level. Subtle at thises there. Also at 37 rate, a Million Dollars brought all the way down to 600,000. As the details have been slowly and quickly, really coming out, were also finding out some no votes are potential yeses. Marco rubio, ron john sown all in the last hour saying theyre in. Melissa. Melissa blake, thank you for that. David just the last hour, one republican senator who was a no on the tax plan has turned around and said he is now a yes. For more details where we stand, whos in, whos out our own adam shapiro is live on capitol hill with the very latest. Reporter hey, david, the calculations look like this will sail through next week, house and senate. Get to what rob portman said as the Conference Committee closed the bill and got ready to sign off on it. I think the bill is a great bill and it is closed now and i think well get the support on tuesday or wednesday to have a vote. We already had enough senators as it came through the senate. The bill is even improved further in the housesenate conference process. Im confident well have the votes. Reporter talk about who is undecided at this point. Show you a couple of senators. Susan collins of maine. Though she got something held out for, increase of Corporate Tax rate to 21 . You got jeff flake he is undecided. Mike lee who got what he wanted along with marco rubio because they are going to increase the refundable portion of the Child Tax Credit for income filers or income taxpayers, who dont have any income Tax Liability at the federal level. Now in regards to health concerns, john mccain and thad cochran. Cochran from mississippi. He said he will be a yes vote next week. He intend to be here. He had a surgical procedure this week. His office says he will be here. John mccain is being treated for side effects of his cancer treatments. His office has indicated that he intend to be here next week. Then of course as you alluded to, david, senator bob corker from tennessee, who voted no only republican originally to vote no. The senator within the last hour said he is a yes. In fact Sarah Sanders at the white house put out a statement that the president was very pleased with senator bob corkers decision to vote yes on this historic legislation. A couple other things to add to the brackets. Blake burman is reporting, we can tell you firstin, first out ramifications for Capital Gains is totally out. Dont have to worry about the first infirst out proposal. We confirmed the salt deduction, state and local taxes, 10k tax on property or income. David first in first out was interesting, but showed the lobbyists got in but they were apparently called out and they had to retreat on that somewhat. That is good news for the swamp. Adam shapiro, good to see you. Melissa. Melissa here is republican congressman tom mcclintock. He is a House Budget Committee member. I know youre a member of the house but youre listening to them tick down those senators. Do you think there are enough votes everywhere to get that done now or are there still people to persuade . I cant read minds, and cant read fortunes. I voted against house version it did Economic Business good on the house side, is reagan recovery stu but botched it up on personal income tax for high cost, high taxed states like california. A lot of my constituents see tax increase. Melissa what how do you feel about it now . They have come a long way to improve from everything im learning. How do you make a tax cut immensely politically unpopular as they did . Go back after broadbased popular deduction, medical costs, casualty losses, mortgage interest, estate an local taxes. Melissa but that is special interests. The whole plan was supposed to be make it simple, to make lower it for everybody and to stop with all those special carveouts and special interests you just described. Those are not special interests carveouts. Those are broad based deductions that are very popular. But i was going to say that the version that theyre now presenting in the conference report has fixed a lot of those problems i think ultimately will come down to exactly where the brackets are, what are the rates within the brackets. But i think they have made some huge improvements on the personal next tax side and business side. That is 2 1 2 trillion dollars of repatriated capital in the United States. Five trillion dollars of new economic activity. That will being hugely important to get america back to work. Melissa it will be painful for those of house live in a state with hoe local and state taxes. Do you think that will incent the local governments to cut back on spending . I certainly hope so. Again ive been fighting big spenders in sacramento most of my life. Melissa no doubt. You know, i also look at it though from a federalist standpoint. That is the notion that those governments closest to the people, the local and state governments ought to be making most of the decisions and providing most of the services. Federal government is supposed to get in line behind the state and local governments. That is why the deduction has been in the code since first enacted in 1919. And so, the question for me, and in a state like california is going to be, have they done enough to restore the state and local deductions, property tax deduction, mortgage interest deduction, to, to be compensated by the lower rates that are in the bill . I think the answer will be yes in that. It will take a couple days to work through the mat on it. Melissa i like where youre going with that. Maybe the federal government can stop spending so much money. That would go along with when youre saying maybe spend it on local level where they are the ones in charge. Let me ask you quickly before we run out of time. One of the biggest concerns people saying republicans oversold this and told the American People they will have this huge cut and they will see much more money in their paycheck and growth is going to boom and they oversold it, people are bound to be disappointed. What do you think . Well, time will tell but we have the past to guide us. We know that when reagan cut taxes dramatically it was morning again in america. I have been wanting my children who are now in their 20s to know what it was like to wake up one day to know the American Economy was again booming, wages were skyrocketing, jobs were plentiful. That was a wonderful feeling in those days. I would like to see that return to our country. I think it can with this bill. Melissa amen, congressman. Provided they take care of the personal income tax side. Melissa all right. Thank you so much, sir. My pleasure. Thanks for having me. David bring in todays panel, noelle nikpour, gop fundraiser. Carol roth, former investment banker. Noelle, look what is happening inside of the beltway, they are the naysayers, republican naysayers, turning around saying yay, not nay. Bob corker was only republican senator to vote against it first time around, for him to say yes what kind of horse trade something getting somebody like corker to say yes on this . If im not mistaken his main concern was the national deficit. I really feel like that a lot of these senators have talked with each other to try to bet this thing passed because i, this is just my opinion on it being in the field, im not really seeing credit for Mitch Mcconnell or really trump doing much of the rallying for this because if you can remember trump promised that we were going to get very simplified tax code. This will be a great deal. We can send in on a postcard. That is not true. So i think that a lot of these people, a lot of these senators had to go back and sell it to their states. They werent getting what they wanted. Everyone will get on board. What the deciding factor you know was for corker to come on and vote yes im not really sure what the deciding factor was. I do look forward to it to pass. I think markets need it to pass. David lets look at the markets for a second, carol, because there is no ambiguity at all as far as markets are concerned whether it will be good for companies. It is clear on a day like today, when the yes votes are adding up, looks like this thing might pass, that the markets are very happy about it. Im just wondering if it does get passed next week, it is signed by the president before christmas, are we having another market rally . Wealth interesting thing is, as i like to say, market like to invest more in possibilities than realities. Weve seen like possibility for these tax cuts is moving momentum, and moving sentiment, not moving necessarily the fundamentals. We have a seen a shift. Where cash is coming in. Not coming into active investing. People are not picking stocks and industries. This is second biggest with money into etfs. It is going into passive strategies. The momentum is good. Sentiments are good. But when reality doesnt necessarily match up with the fundamentals, sometimes when you have what is called a meltup, it is preceded with a meltdown. For the timebeing obviously moving the markets. What does that mean for the longs term . Something to keep an eye on. David noelle, it is clear if this doesnt pass, there will be a meltdown, i dont think there is any question about it. If that happens, if it doesnt pass after all this, there is a market meltdown who pays the political price, and what will that be . Oh, my gosh, you know what . The gop will pay the price in the midterms and also pay it with im a national fundraising. What exactly am i going to tell a National Donor to invest in gop and any candidates . We have trifecta, we have the house, we have the senate, we have the presidency, are they going to invest in . If we cant get anything done, cant get anything, strength on economic platform on our party, we cant get anything done what is there to sell . David i dont want to bury the lead. Right now the looks like yeas will pass this thing. That is good breaking news. Well continue to report it throughout the hour. Ladies thank you very much. Have a wonderful weekend. Appreciate it. Melissa gop is getting ready to unveil the final version of the tax bill. Well keep you updated ahead of all the breaking details 5 30 p. M. Eastern. Coming up, steve forbes, forbes media chairman is here with his take. David questioning his integrity at the fbi, at least at the top. White house says Agency Records show extreme bias against President Trump as commanderinchief is putting the age city on the hot seat. Bob goodlatte, chairman of the house judiciary committee. He is here to sound off. Melissa whether heading on the roads or to the airport for holidays, what you need to know, tips from a seasoned traveler to keep your sanity. Ive got them all. David my gosh. Melissa i know. Melissa putting pressure on the fbi. President trump criticizing the agency today after new information came to light revealing bias against the president himself. Lets go back to blake burman at the white house with the headlines surrounding the president today. Blake. Reporter melissa, a couple different messages from the president on the fbi when he was at the fbi national academy. Earlier this afternoon he praised the profession the next batch of graduates would be joining. He did not take any swipes at leadership whatsoever. That includes leadership present, especially past. However as the president was set to leave from the white house to fly to quantico, the president suggested that the fbi needs to be fixed. Its a shame whats happened with the fbi but well rebuild the fbi. It will be bigger, better than ever. It is very sad when you look at those documents and how they have done that, is really, really disgraceful. You have a lot of very angry people that are seeing it. Reporter moments after that i asked the president if he feels the special counsel is biased. The president did not want to engage on that possibility but he used that as a launching pad to criticize the fbis performance in the Hillary Clinton investigation. Whatever you want to call it, youre going to have to make up your own determination but they found tremendous things on the other side. When you look at the Hillary Clinton investigation, it was, you know, ive been saying it for a long time. That was a rigged system, folks. That was a rigged system. Reporter so what you have here, melissa, the fbi, president trying to make the argument that the career professionals in the organization are clear professionals but they melissa blake, thank you. David you may have seen him at the testimony of Rod Rosenstein the other day. Bob good late, he is the chairman of the house judiciary committee. Congressman, when you look at the actual document where the phrases were changed, the phrases to describe what Hillary Clinton did with her emails, how she handled those emails, the first phrase was grossly negligent and that carries with it a a fed offense. That was crossed out but instead extremely careless was written in. Then reasonably likely was crossed out and possible was put in. My question is, who made these changes . Was it peter strzok, about whom other things were said in front of your committee . Well, officers first of all the gross negligence standard actually tracks the espionage statute. That is why that was so important for that to be changed because it is difficult for the director to explain why he wasnt going to charge her with a crime when he found that her actions indeed tracked the language of the statute. So it is very disturbing. We dont know for sure who did it. We were told it may have been peter strzok. We certainly want to talk to mr. Strzok based upon not only that but his involvement in a whole host of different elements of this investigation starting early last year and even running up into the special counsels efforts. David right. Mr. Muellers team should not have people like mr. Strzok and others that are in there involved in something that is supposed to be an impartial, fair investigation. David well the question is, exactly what peter strzok did because he had an intention that he made clear in some much those texts that were revealed this week, that not only did he dislike, if not hate donald trump, which is his prerogative to do so but that he was going to use his power to try to change the edict of the American Voters and he said that in one email. We can put it up on the screen if we can. Where he ended, saying there is no way that donald trump gets elected but im afraid we cant take that risk. Now this means to me that he is going to use his power at the fbi to try to subvert an election. Is there any other way to take that . No. That is the way i take it too. Very disturbing that americas premier Law Enforcement organization would have individuals like mr. Struck in there. Let me hasten to say, that i agree with the president , that we have thousands of great Law Enforcement officers, lawyers, accountants in the fbi who every day work very hard to make sure justices done and uphold the rule of law, make sure that justices done with the woman in a blindfold and balanced scales. That is not what you hear in the text and emails from peter strzok. David im wondering if criminal charges would be brought against him and what they would be . If he used the power of the fib about to subvert an election what crime did he commit . Well, certainly there would be the possibility of obstruction of justice. The fact of the matter is, we dont know exactly what was done or who es was involved. That statement appears to refer to a meeting that took place in the deputy fbi directors office, Graduation Ceremony<\/a> today. What the president is saying now as we are learning about efforts to water down former fbi director james comeys statement on the Hillary Clinton<\/a> email investigation. Among our guests on these issues, this hour, republican congressman tom mcclintock, steve forbes, retired navy captain chuck nash, Bob Goodlatte<\/a> the chairman of the house judiciary committee. Melissa back to the markets, the dow ending the day at a new record close its 69th under President Trump<\/a>. Can you believe that . And for the end of the year. 2017 is tied for most records in a calendar year. Nicole petallides, is floor of new york stock exchange. That is ominous. Tied with 99. The records for the dow, nasdaq, and s p. Were seeing 69th record close for the dow. It is interesting whether or not we break it, make our own History History<\/a> here in 2017. Lets do it, i dont know. Im feeling optimistic. Spoke to teddy weisberg, he said, nicole, it will keep on going. People may think it will sizzle out. It will keep going with good jobs, retail sales. Tax plan looking like going through. Things overall looking good. Major averages for the week. Dow 1. 3 . Nasdaq 1. 4 . Dow, s p 500, up four weeks in a row. Nasdaq on pace for first up week in three. That is good news. We saw movers for the week, movers for the week. Disney, nike, pfizer, microsoft, intel, boeing. Those are some best performers this week t was easy to find names with up arrows and those that hit some regular highs. Microsoft, alltime high. Boeing alltime high. Just to name a few. Mcdonalds, united technologies. Have a great weekend. Melissa nicole, thank you for that. Getting close to the finish line, Republican Leaders<\/a> set to reveal the final text of the compromise tax bill at 5 30 p. M. Eastern time right here. Go straight to blake burman with new details on the plan. Blake. Reporter brackets and incomes will officially be revealed in hour 1 2. We got a sneakpeek at them. Let me sort of give you the headlines from here. That is the first one being there will be seven different brackets. 10, 12, 22, 24, 32, 35, 37 . For sing fell filers this was the niche plan on the senate side. That stays. The difference the tweaks for those who are married filing jointly to the initial senate plan as well. The rates stay the same but where the tweaks are as far as income levels occur at that 165,000 and 315,000 level. Subtle at thises there. Also at 37 rate, a Million Dollars<\/a> brought all the way down to 600,000. As the details have been slowly and quickly, really coming out, were also finding out some no votes are potential yeses. Marco rubio, ron john sown all in the last hour saying theyre in. Melissa. Melissa blake, thank you for that. David just the last hour, one republican senator who was a no on the tax plan has turned around and said he is now a yes. For more details where we stand, whos in, whos out our own adam shapiro is live on capitol hill with the very latest. Reporter hey, david, the calculations look like this will sail through next week, house and senate. Get to what rob portman said as the Conference Committee<\/a> closed the bill and got ready to sign off on it. I think the bill is a great bill and it is closed now and i think well get the support on tuesday or wednesday to have a vote. We already had enough senators as it came through the senate. The bill is even improved further in the housesenate conference process. Im confident well have the votes. Reporter talk about who is undecided at this point. Show you a couple of senators. Susan collins of maine. Though she got something held out for, increase of Corporate Tax<\/a> rate to 21 . You got jeff flake he is undecided. Mike lee who got what he wanted along with marco rubio because they are going to increase the refundable portion of the Child Tax Credit<\/a> for income filers or income taxpayers, who dont have any income Tax Liability<\/a> at the federal level. Now in regards to health concerns, john mccain and thad cochran. Cochran from mississippi. He said he will be a yes vote next week. He intend to be here. He had a surgical procedure this week. His office says he will be here. John mccain is being treated for side effects of his cancer treatments. His office has indicated that he intend to be here next week. Then of course as you alluded to, david, senator bob corker from tennessee, who voted no only republican originally to vote no. The senator within the last hour said he is a yes. In fact Sarah Sanders<\/a> at the white house put out a statement that the president was very pleased with senator bob corkers decision to vote yes on this historic legislation. A couple other things to add to the brackets. Blake burman is reporting, we can tell you firstin, first out ramifications for Capital Gains<\/a> is totally out. Dont have to worry about the first infirst out proposal. We confirmed the salt deduction, state and local taxes, 10k tax on property or income. David first in first out was interesting, but showed the lobbyists got in but they were apparently called out and they had to retreat on that somewhat. That is good news for the swamp. Adam shapiro, good to see you. Melissa. Melissa here is republican congressman tom mcclintock. He is a House Budget Committee<\/a> member. I know youre a member of the house but youre listening to them tick down those senators. Do you think there are enough votes everywhere to get that done now or are there still people to persuade . I cant read minds, and cant read fortunes. I voted against house version it did Economic Business<\/a> good on the house side, is reagan recovery stu but botched it up on personal income tax for high cost, high taxed states like california. A lot of my constituents see tax increase. Melissa what how do you feel about it now . They have come a long way to improve from everything im learning. How do you make a tax cut immensely politically unpopular as they did . Go back after broadbased popular deduction, medical costs, casualty losses, mortgage interest, estate an local taxes. Melissa but that is special interests. The whole plan was supposed to be make it simple, to make lower it for everybody and to stop with all those special carveouts and special interests you just described. Those are not special interests carveouts. Those are broad based deductions that are very popular. But i was going to say that the version that theyre now presenting in the conference report has fixed a lot of those problems i think ultimately will come down to exactly where the brackets are, what are the rates within the brackets. But i think they have made some huge improvements on the personal next tax side and business side. That is 2 1 2 trillion dollars of repatriated capital in the United States<\/a>. Five trillion dollars of new economic activity. That will being hugely important to get america back to work. Melissa it will be painful for those of house live in a state with hoe local and state taxes. Do you think that will incent the local governments to cut back on spending . I certainly hope so. Again ive been fighting big spenders in sacramento most of my life. Melissa no doubt. You know, i also look at it though from a federalist standpoint. That is the notion that those governments closest to the people, the local and state governments ought to be making most of the decisions and providing most of the services. Federal government is supposed to get in line behind the state and local governments. That is why the deduction has been in the code since first enacted in 1919. And so, the question for me, and in a state like california is going to be, have they done enough to restore the state and local deductions, property tax deduction, mortgage interest deduction, to, to be compensated by the lower rates that are in the bill . I think the answer will be yes in that. It will take a couple days to work through the mat on it. Melissa i like where youre going with that. Maybe the federal government can stop spending so much money. That would go along with when youre saying maybe spend it on local level where they are the ones in charge. Let me ask you quickly before we run out of time. One of the biggest concerns people saying republicans oversold this and told the American People<\/a> they will have this huge cut and they will see much more money in their paycheck and growth is going to boom and they oversold it, people are bound to be disappointed. What do you think . Well, time will tell but we have the past to guide us. We know that when reagan cut taxes dramatically it was morning again in america. I have been wanting my children who are now in their 20s to know what it was like to wake up one day to know the American Economy<\/a> was again booming, wages were skyrocketing, jobs were plentiful. That was a wonderful feeling in those days. I would like to see that return to our country. I think it can with this bill. Melissa amen, congressman. Provided they take care of the personal income tax side. Melissa all right. Thank you so much, sir. My pleasure. Thanks for having me. David bring in todays panel, noelle nikpour, gop fundraiser. Carol roth, former investment banker. Noelle, look what is happening inside of the beltway, they are the naysayers, republican naysayers, turning around saying yay, not nay. Bob corker was only republican senator to vote against it first time around, for him to say yes what kind of horse trade something getting somebody like corker to say yes on this . If im not mistaken his main concern was the national deficit. I really feel like that a lot of these senators have talked with each other to try to bet this thing passed because i, this is just my opinion on it being in the field, im not really seeing credit for Mitch Mcconnell<\/a> or really trump doing much of the rallying for this because if you can remember trump promised that we were going to get very simplified tax code. This will be a great deal. We can send in on a postcard. That is not true. So i think that a lot of these people, a lot of these senators had to go back and sell it to their states. They werent getting what they wanted. Everyone will get on board. What the deciding factor you know was for corker to come on and vote yes im not really sure what the deciding factor was. I do look forward to it to pass. I think markets need it to pass. David lets look at the markets for a second, carol, because there is no ambiguity at all as far as markets are concerned whether it will be good for companies. It is clear on a day like today, when the yes votes are adding up, looks like this thing might pass, that the markets are very happy about it. Im just wondering if it does get passed next week, it is signed by the president before christmas, are we having another market rally . Wealth interesting thing is, as i like to say, market like to invest more in possibilities than realities. Weve seen like possibility for these tax cuts is moving momentum, and moving sentiment, not moving necessarily the fundamentals. We have a seen a shift. Where cash is coming in. Not coming into active investing. People are not picking stocks and industries. This is second biggest with money into etfs. It is going into passive strategies. The momentum is good. Sentiments are good. But when reality doesnt necessarily match up with the fundamentals, sometimes when you have what is called a meltup, it is preceded with a meltdown. For the timebeing obviously moving the markets. What does that mean for the longs term . Something to keep an eye on. David noelle, it is clear if this doesnt pass, there will be a meltdown, i dont think there is any question about it. If that happens, if it doesnt pass after all this, there is a market meltdown who pays the political price, and what will that be . Oh, my gosh, you know what . The gop will pay the price in the midterms and also pay it with im a national fundraising. What exactly am i going to tell a National Donor<\/a> to invest in gop and any candidates . We have trifecta, we have the house, we have the senate, we have the presidency, are they going to invest in . If we cant get anything done, cant get anything, strength on economic platform on our party, we cant get anything done what is there to sell . David i dont want to bury the lead. Right now the looks like yeas will pass this thing. That is good breaking news. Well continue to report it throughout the hour. Ladies thank you very much. Have a wonderful weekend. Appreciate it. Melissa gop is getting ready to unveil the final version of the tax bill. Well keep you updated ahead of all the breaking details 5 30 p. M. Eastern. Coming up, steve forbes, forbes media chairman is here with his take. David questioning his integrity at the fbi, at least at the top. White house says Agency Records<\/a> show extreme bias against President Trump<\/a> as commanderinchief is putting the age city on the hot seat. Bob goodlatte, chairman of the house judiciary committee. He is here to sound off. Melissa whether heading on the roads or to the airport for holidays, what you need to know, tips from a seasoned traveler to keep your sanity. Ive got them all. David my gosh. Melissa i know. Melissa putting pressure on the fbi. President trump criticizing the agency today after new information came to light revealing bias against the president himself. Lets go back to blake burman at the white house with the headlines surrounding the president today. Blake. Reporter melissa, a couple different messages from the president on the fbi when he was at the fbi national academy. Earlier this afternoon he praised the profession the next batch of graduates would be joining. He did not take any swipes at leadership whatsoever. That includes leadership present, especially past. However as the president was set to leave from the white house to fly to quantico, the president suggested that the fbi needs to be fixed. Its a shame whats happened with the fbi but well rebuild the fbi. It will be bigger, better than ever. It is very sad when you look at those documents and how they have done that, is really, really disgraceful. You have a lot of very angry people that are seeing it. Reporter moments after that i asked the president if he feels the special counsel is biased. The president did not want to engage on that possibility but he used that as a launching pad to criticize the fbis performance in the Hillary Clinton<\/a> investigation. Whatever you want to call it, youre going to have to make up your own determination but they found tremendous things on the other side. When you look at the Hillary Clinton<\/a> investigation, it was, you know, ive been saying it for a long time. That was a rigged system, folks. That was a rigged system. Reporter so what you have here, melissa, the fbi, president trying to make the argument that the career professionals in the organization are clear professionals but they melissa blake, thank you. David you may have seen him at the testimony of Rod Rosenstein<\/a> the other day. Bob good late, he is the chairman of the house judiciary committee. Congressman, when you look at the actual document where the phrases were changed, the phrases to describe what Hillary Clinton<\/a> did with her emails, how she handled those emails, the first phrase was grossly negligent and that carries with it a a fed offense. That was crossed out but instead extremely careless was written in. Then reasonably likely was crossed out and possible was put in. My question is, who made these changes . Was it peter strzok, about whom other things were said in front of your committee . Well, officers first of all the gross negligence standard actually tracks the espionage statute. That is why that was so important for that to be changed because it is difficult for the director to explain why he wasnt going to charge her with a crime when he found that her actions indeed tracked the language of the statute. So it is very disturbing. We dont know for sure who did it. We were told it may have been peter strzok. We certainly want to talk to mr. Strzok based upon not only that but his involvement in a whole host of different elements of this investigation starting early last year and even running up into the special counsels efforts. David right. Mr. Muellers team should not have people like mr. Strzok and others that are in there involved in something that is supposed to be an impartial, fair investigation. David well the question is, exactly what peter strzok did because he had an intention that he made clear in some much those texts that were revealed this week, that not only did he dislike, if not hate donald trump, which is his prerogative to do so but that he was going to use his power to try to change the edict of the American Voters<\/a> and he said that in one email. We can put it up on the screen if we can. Where he ended, saying there is no way that donald trump gets elected but im afraid we cant take that risk. Now this means to me that he is going to use his power at the fbi to try to subvert an election. Is there any other way to take that . No. That is the way i take it too. Very disturbing that americas premier Law Enforcement<\/a> organization would have individuals like mr. Struck in there. Let me hasten to say, that i agree with the president , that we have thousands of great Law Enforcement<\/a> officers, lawyers, accountants in the fbi who every day work very hard to make sure justices done and uphold the rule of law, make sure that justices done with the woman in a blindfold and balanced scales. That is not what you hear in the text and emails from peter strzok. David im wondering if criminal charges would be brought against him and what they would be . If he used the power of the fib about to subvert an election what crime did he commit . Well, certainly there would be the possibility of obstruction of justice. The fact of the matter is, we dont know exactly what was done or who es was involved. That statement appears to refer to a meeting that took place in the deputy fbi directors office, Andrew Mccabe<\/a> and also involved mr. Strzoks apparent girlfriend, miss page. So this is a very serious matter and we have requested the documents that are necessary to look into this further. We have called for a Second Special<\/a> counsel to look into how the entire matter was handled by former director comey. Why did he take it upon himself to make the announcement . Why did he choose not to prosecute. Why did he later in the election announce before the election he was going to reopen the case and close it back down again . All of this was very disruptive to the operation of the election last year. And it is also not following fbi protocols, and Justice Department<\/a> protocols about how you conduct an investigation and who makes the decision to prosecute. Not the fbi. It is supposed to be the Justice Department<\/a> lawyers who make that decision. David a lot of questions. Were glad youre asking them. Chairman goodlatte. Thank you very much. Appreciate you seeing us again. Appreciate you being here. Melissa adam shapiro more breaking details on the tax plan. Adam. Reporter yeah the repatriation fee was going to be a little higher than first proposed by house or senate. House was originally would have 10 tax on liquid assets on cash and what, 5 on illiquid. The senate wanted 14 on cash. Seven on illiquid. We learned in the final bill, it will be 15 for cash, 8 on noncash items. Back to you. Melissa interesting. Adam, thank you. More breaking news as well. Defense secretary james mattis saying that north koreas most recent test of a longrange missile did not demonstrate imminent threat to the United States<\/a>. Meanwhile secretary of state Rex Tillerson<\/a> is walking back his comments from earlier in the week where he offered unconditional talks with north korea or seemed to at least. In response to those comments the white house insisting the president s opinion on how to handle the rogue nation had not changed. Tillerson clarified his statement at the u. N. Security Council Meeting<\/a> this afternoon. We have been clear that all options remain on the table in the defense of our nation. But we do not seek nor do we want war with north korea. The United States<\/a> will use all necessary measures to defend itself defense north korean aggression, but our hope remains diplomacy will produce a resolution. North korea must earn its way back to the table. Melissa joining me chuck nash, retired navy captain. Do you see a big change in there or is everybody making much ado about nothing in terms of the language that Rex Tillerson<\/a> had bever sus today . I think it is fairly consistent. You know with these missile shots they may not be where it is an imminent threat right now but given that they fired off 40 Ballistic Missiles<\/a> and three Nuclear Tests<\/a> just in the last two years, theyre on a fast learning curve. If not today, then probably fairly soon they will have the capability. Melissa he says that they have to earn their way back to the table to negotiate but i dont know, weve been talking to them for years and they continue to charge forward with this plan of action. Exactly. And you know, you can take a look at it an see what happened to moammar qaddafi gave up his weapons of mass destruction. Look at milosevic in serbia. What happened to iran and iraq . They got capability so theyre treated differently. When you look from kim jonguns position, say, you know, maybe these are going to do me some good but the problem is, if he overplays his hand he is going to be inviting his own selfdestruction. Melissa yeah do you think that is a real threat . We have gotten to the point, the last measure seems could possibly seven that from happening would be if china gets involved and you know, reins him in a bit but it is unclear they want it do that. They were moving forward in that direction. Most recently seemed to get irritated . China and or russia will probably get involved because as this thing heats up in that theater it will draw more u. S. Attention in the region where the china knows dont want. It has the possibility to make take nonnuclear japan with u. S. Blessing turn it into a nuclear power. Both russia and china would desperately not want that to happen. Melissa russia is trying to get involved in the mix. They made the statement that kim jongun is willing to come to the table. That he might be willing to give up his program. A lot of people after that statement, when that message was passed to Rex Tillerson<\/a> doubted veracity of it, thought that russia is sort of getting in the middle to stir trouble. What do you think . I think the russians are just trying to do whatever they can to get the u. S. To back down because, kim jongun, and i think russians and chinese, believe that we are being held hostage by our own inaction and our own unwillingness to really use military force. What they failed to realize is, sometimes hostages get shot. Melissa do you think this president does have the will to use military force . I think he does and i dont think he does in the sense of a reckless abandonment of common sense. I think what he is looking at is, this is a situation that has been developing for the last 15 plus years and now, it is finally at the point where you cant kick the can much further down the road. Melissa chuck nash, thank you for your time. We appreciate it. My pleasure. Anytime. David meanwhile we are closing in on tax reform. There is a lot going on inside the beltway. First off, republican lawmakers are setting to release final text of the tax bill with a few gop wild cards still on fence but others are getting on board. Steve forbes, forbes media chairman, on what to expect next. B working as an emt in a small town usually means hospitals arent very close by. When you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. We call that the golden hour. Theres nothing worse than when were responding to the hospital, and the hospital doesnt have the right specialist. Evaluating patients remotely, by an expert, is where i think we have a potential to make a difference. Robots can do a lot in medicine these days, but they cant think. Theyre still machines. For nuanced decision making, we still need humans. We would save a lot of lives if we could bring the doctor to the patient. Verizon is racing to build the first and most powerful 5g network that will enable Breakthrough Innovations<\/a> to take place. As we get faster and faster wireless connections, itll be possible to bring those capabilities to more remote sites, and be able to operate on a patient in a way that was just not possible before. When you think about underserved areas, you tend to think of remote locations. But the reality is, an underserved area is anywhere where the person that you need, who has the expertise for the problem that you have, is nowhere near you. Low latency is crucial for things like surgery, because the Response Time<\/a> has to be immediate, it has to be real. I could put on vr goggles like these, and when i move my hand, the robot on the other side will mimic the movement, with almost no delay. Who knew a scalpel could work thousands of miles away . dr. Vasquez its going to be lifechanging, and lifesaving. Ive seen it. I think it is going to do very, very well. I think were going to be in a position to pass something as early as next week which will be monumental. David President Trump<\/a> today sounding very hopeful getting a tax bill through Congress Next<\/a> week. Is this long painful process of beltway sausagemaking finally coming to a Successful End<\/a> . Lets ask our friend, former president ial hopeful, forbes media chairman, i should say mr. Flat tax himself, steve forbes. There is no flat tax here by the way. Were going from seven brackets to seven brackets. Whole simplification is going wrong. Reduction in the corporate rate. A little reduction at the top rate. What do you think . In the corporate side if they havent messed up fine print making sure overseas companies dont play games that rate is pretty good, 21. Pass through, knocking 10 points. Expensing all to the good. Individual side is mixed bag. But final version looks like better than what they had two or three weeks ago. They got the top rate down a little bit. On senate side, theyre better than brackets from the house side even though they have more brackets. Most people do better on senate brackets than house brackets. What could have been bad bad on personal side, meh. David it was ugly, ugliness to the whole process, when we had reporter standups were the thousand, im told literally thousands of lobbyists inside the beltway banging down doors of congressman and senators trying to get their little points across. Do you think that messed things up . Well what they did on starting on house side, they put in nasty little provisions ended up raising taxes for people. And lobbyists came in and david seems a lot got taken out. Thats a good thing. If they laid down markers at the beginning could have avoided a lot of markers. On the senate side, took Justice Roberts<\/a> seriously, called the individual mandate a tax and repealed it. I would wish they make obamacare voluntary, instead of removing individual mandate. People like voluntary choices. What could have been disaster is okay. What they should do now, when do big signing next week saying this is down payment for more to come. David bingo. Bingo. So people feel if i didnt get it this time we will get more next time. David after all, during the reagan tax cut years, it was that first tax cut which was delayed a yearandahalf before it kicked in. A lot of problem with it delayed. David caused a extension, make a recession worse than it had to be. Real tax cut came in 1986 right . When they reduced top rate from 50 down to 28 . They had a 15 bracket t passed the senate 973. David wow. Because we had already seen enough movement in the market, in 1982, we had a downward trend. We had recession. But when the tax cuts kicked in, we had huge jump in gdp in 1983, 1984, was over 7 , et cetera. 1984 election reagan won against a democrat running as a tax raiser, 49 states to one. Democrats got the message. Republicans have to see. 2018 elections, 2020 elections. Start of a process. Get big things done. Show the voters want it. Even democrats will wake up. David on other hand well see deficit get bigger because the Child Tax Credit<\/a> thing, lets be clear the Child Tax Credit<\/a> is supposed to be credit allows you to pay less in taxes as a result of having more kids. In fact a lot of people who pay nothing in federal taxes are going to get a check from the government, which is essentially welfare, is it not. It is. Paying to have babies. What they should have done, if they wanted to make sure everyone got a tax cut, which kiddie credit does not do, what they did six years ago, take first two points off Social Security<\/a> tax, so even if youre making 10 or 15,000, working part time you will get self hundred dollars raise, everyone gets it whether you have kids or not. David steve, obscured in the shadow of tax cut reform was the fccs decision to pull out of the internet overturning an obama rule that got the fcc into regulating the internet. Our font of wisdom, jimmy kimmel came out denounced the move. Play the sound bite. Get your reaction. I just want to say thank you, President Trump<\/a>. Thanks to you and this jack hole you appointed to run the fcc, big corporations are about to take full control of the internet. So merry christmas, everybody. David in all deference to jimmy kimmel, google, netflix, amazon, you have big business into the internet. So the point is fcc pulling out is going to allow companies, particularly Small Companies<\/a> have a lot more freedom to do what they need to make money on internet, right . It restores internet to the flexibility made it envy of the world starting in the 1990s when we made the decision not to tax the internet, not to crush it with 1930 styles regulation. President obama went backwards. Now were getting there. Jimmy kim mill should stick to slapstick and not federal communications law. Neil cavuto was asked the other day on fox, dont you pay a higher price for a big cannoli . Yes. The cannoli is bigger. You pay more. Bigger pizzas you pay more. David for those people that think fcc will make the internet more efficient, back in 1947 at t came up with a plan to develop cell phone technology. Guess who killed the idea . It was the fcc we could have had cell phones 40 years before the time that we did but the fcc said problem with cell phones they would only benefit a few rich people. Why the soviet union lost the cold war. You had bureaucrats like that. Only had few agencies and free market enough economy where cell phones eventually got developed. First one cost 3995 that was for the rich. Today everyone, billions have them. David everybody. Steve forbes, great to see you. Thank you very much. Be sure to catch me and steve on forbes on fox, tomorrow, 11 00 a. M. Eastern on the fox news channel. Melissa. Melissa breaking news in the disney deal with twentyfirst century fox. Nicole petallides at new york stock exchange. Nicole . Melissas were getting breaking news on disney fox deal, this is more precise on the terms, 8k filing from sec to the company, notifying to investors what would be about interesting developments this is about terminating the deal. If disney were to terminate the deal for some reason under circumstances, failure to obtain regulatory approval, for example, disney would pay 2. 5 billion to twentyfirstcenturyfox under those circumstances. The other way around, twentyfirst century fox would pay 1. 5 billion to disney under certain conditions including accepting a superior proposal. So this is just pieces information, terms of the deal that are of interest. Dont forget fox did have interest, comcast, other suitors have interest in 21st century fox assets but they went with disney because they thought they were more likely to bet regulatory approval. Bob iger stays on until 2021. Those stocks did well this week. Disney up 6 . Fox up 3 . Melissa good stuff. David. David with another cree Nuclear Threat<\/a> growing, u. S. Stepping up training efforts in order to be ready for potential war. Getting look into trading going on deep within the jungle. That is coming next. Melissa increasing threat from north korea has the u. S. Army training its solders in a new environment, remote rainforests in hawaii. [gunfire] fox newss Jonathan Hunt<\/a> and his crew got to see what combat might look like as they accompanied soldiers in the first Jungle Training School<\/a> in decades. He give us a look, i said that better earlier, i had that earlier, correct me, jonathan. Take it away. Reporter were in hawaii at the headquarters of the 25th inbe fantry divisions lightning academy, the Jungle Training School<\/a>. Were the first tv crew to take part in the training. It is tough, i can tell you. It is grueling but it might just save american lives and help the u. S. Win the next war. As dawn broke we board ad black hawk helicopter for a spectacular journey across the roof of the rainforest before being dropped in. Joining soldiers who have fought in iraq and afghanistan, learning to fight a very different kind of war. The goal is to be able it teach the skills that students can survive, fight, win in jungle environment. Reporter as every vietnam vet knows the jungle itself is not an easy enemy to conquer, the only way to do it on foot. The a loud rumbled armored humvees is most familiar sound from the desert and urban wars the u. S. Has been fighting. Here the sound of soldiers moving in almost total silence, save for the soft thud of their boots on the ground. So restrictive. It is everything is so tight. Can, in iraq and afghanistan i can move five six kilometers in an hour while dismounted. Here, maybe moving 500 meters. Reporter these soldiers spend three weeks living and fighting in the jungle. Gun gun. Every minute designed to give them the real world experience of potential future wars. All part of preparing for whatevers next. That is our job, be ready to fight the next fight. Reporter a sign of just how tough this Training Course<\/a> is, 75 battle hardened soldiers began three weeks ago. Today just 33 of those graduated. Melissa. Melissa wow. Thats amazing. Jonathan hunt. Youre one of them i have no doubt. Thank you. Reporter i survived two days. Melissa i would have done less. David surviving in hawaii. Doing more than just surviving. Melissa looks tough. Jonathan, youre great. Thank you. David no place like home for the holidays. If thats where youre headed you will encounter a lot of people going your way. Our next guest is a travel guru with tips how to save your sanity when youre traveling with all of that holiday traffic. That is coming up. 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. Protect Sensitive Data<\/a> from millions of kinds of malware, with a cloud thats secure to the core. The ibm cloud. The cloud for business. Yours. Twifiso if you cantss. Live without it. T it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. David breaking news. Again the details were going to see in just a few moments coming out of capitol hill of the new tax bill. We are getting, forgive me looking at my iphone were getting latebreaking details from reporters inside the beltway. There will be repeal of corporate amt, alternative minimum tax. Full repeal of that for corporations. For individuals the last we heard was anybody making less than a Million Dollars<\/a> will have a repeal of the amt. Those making more than a Million Dollars<\/a> will not. There is full expensing for five years for businesses, r d tax credit retained. As we just mentioned the rates for redeemed repatriation, if you have capital abroad, we know trillions of dollars are abroad. A lot of that money could do the u. S. Economy a lot of good if it would come back. Originally the president said there would be 10 tax to bring the money back. That is now upped, in order to quote, pay for these tax cuts. 15 for cash that is brought back. 8 for noncash assets that are bought back into this country. Details of the tax plan are finally getting fleshed out as more and more senators are going on board. Melissa. Melissa record numbers of americans traveling for christmas and new years. Aaa saying 107 million americans are traveling between december 23rd and january 1st. Most of them are driving. Here now to discuss how to save your sanity during all of it is laura bloom, chief content officer for family traveler. I want the best tips for people not necessarily to save you money but keeping from killing everyone around you as youre traveling. Talking flights, what airport would you avoid like the plague . What are the worsts ones in the country. In everybodys opinion, laguardia, chicago ohare. Terrible weather delays. Avoight going to those airports if you possibly can. Melissa what time of stay. I say morning is better. What time of day will you end up killing fewer people around you out of frustration. Youre right morning. Take that, dad. Because of delays . You get out on time usually in the morning. If there are delays it will have domino effect. It will impact you. Melissa lines are long. People get there super early. Take the early flights. That is when you have the best luck. Melissa better off checking gifts on plane . Mail them ahead . What is the move there . I would check the gifts. Definitely whatever you do dont wrap your gifts, take them through security, because that can cause huge problems. Security people might want to unwrap them. Melissa what a nightmare. One stip. Dont rely on guaranteed delivery dates, they have a huge storm that is off. Melissa miss the dates, well give you money back. That doesnt help a whole lot. What are the dumbest things people are doing frustrated, trying to travel for the holiday . One is abusing flight attendants and people at desk, that never helps. You will not get anywhere. Melissa what else. Be nice they will help you out. Another rookie mistake is not getting airport early enough. Because the lines can be really long. Even if you have tsa precheck, elite flier, get that early. Another thing not using curb check. Those guys are great. Give them five dollar tip, they will help check your bag, avoid all the lines inside the airport. A lot of people dont want to pate tip. Another rookie mistake, when youre driving it is just fly, sorry to drive at the peak hours. Melissa yeah. Drive really early in the morning. Avoid the traffic. Melissa what are the worst days to fly this season . Worst days to fly, friday 22 of december. Friday the 29th of december. Melissa im doing both. Sorry. Tuesday, 2nd of january. People coming back from the 10day holiday, and flying back on the 2nd. Try to avoid. Melissa so you dont want to do that weve blown through, what else do you have for us . Those are like my big questions. Another tip, if you are not a tsa precheck melissa seems like everybody is tsa pre. Does it still work . It still works. Lines are longer around the holidays. Clear is new program at 30 different airports. What is amazing you can sign up for it on the spot. The lines are often much shorter than tsa precheck. So its a good hack if you want to get through the airport into the airport quickly. Melissa youre fantastic. I will replay the segment. Write it all down. Thank you so much. David, did you learn anything. David i did. I learned a lot. Im staying where i am. Im not going anywhere. More details of the tax plan coming right up. Stay with us. Unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management<\/a> firms in the country. Discover how we can help find your unlock. Melissa san antonio resident matt johnson turned his house into the ultimate star wars christmas light show using 15,000 lights, what a great idea david took him an entire year to program the display and over a month to assemble it all on to the house i wonder what he does for a living the show runs nightly from 6 0010 p. M. And we just got details on the tax plan risk rewards will cover it all for us. Melissa we wont spoil it for them. David no. President trump the democrats have done nothing. I have seen it, i think its going to do very very well. I think that we are going to be in a position to pass something as early as next week, which will be monumental. God bless them. Im glad we have them but they dont need a tax break. President trump it will be the greatest Christmas Present<\/a> that a lot of people have ever received. It will be something special. Obviously theres folks who are going to spin it that is something terrible for the American People<\/a> but frankly were hoping it speaks for itself. Liz the countdown to tax cuts now on, details of the final tax bil","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia904501.us.archive.org\/4\/items\/FBC_20171215_210000_After_the_Bell\/FBC_20171215_210000_After_the_Bell.thumbs\/FBC_20171215_210000_After_the_Bell_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240630T12:35:10+00:00"}