Into new year of current spending is really the most likely outcome here with emergency help for the Child Health Program and National Security courts and Disaster Relief which is actually the specific issue that the house is mulling at this very moment. Republican congressman fred up ton of michigan gives us the inside scoop on the Government Shutdown. He was also one of those select tax reform conferees. We will quiz him about why that socalled welfare for the rip loophole with carried interest was left safe and sound in the bill and new york citys top government investor scott string er is a little torn. He says the tax reform bill is terrible for the citizens of the city, but the 186 billion new york city Pension Funds he overseas could see solid gains and those pensions are for city workers. Well ask him about his rock in a hard place here in a fox business exclusive. On wall street, i already mentioned the s p right there, both are ready to snap a twoday losing streak when you include the dow both headed for new record closes. On this thursday, were less than an hour until the closing bell lets start the countdown. And it might be the shortest day of the year, but traders on wall street are working in over drove as he look to close out the year with a bang, and so far all three major indices are on track to snap a twoday losing streak with the dow once again looking to make history at the close, were above what would be the record close right now. The dow stands up 96 points, and this would be the 71st record close of the year for the dow as it races toward 25,000. Three dow allstars, goldman sachs, caterpillar, home depot. Theyre all hits lifetime highs, goldman up 2. 25, that cant be right, its not a 5 stock. Oh, there it is its up 5. Where are my glasses . [laughter] liz a different picture for utility companies, s p 500, utilities down nearly 5 this week alone. Its getting hammered on track for its biggest weekly loss in more than two years, and there are a couple things at work here number one biggest pressure coming from pg e, shares of the california electric utility tumbling to the very bottom of the s p after the company surprised investors by suspending its Quarterly Dividend warning it could be held liable for deadly wine country wildfires in california which caused more than 9 billion in damages. So theyve got a force majure situation and youll see other utility giants following suit. Weve got Edison International along with pg e, the three worst performers in the s p these are big dividend plays and sometimes those tend not to do well when the economy looks like its getting better. Let me get to capitol hill right now. A pathway to avoid a Government Shutdown is still choked with all kinds of greenery and dead brush at this hour. Right now, lets tack a look the house is debating a stopgap spending bill and also a separate bill which provides wildfire Disaster Relief along with hurricane Disaster Relief for puerto rico and houston, u. S. Virgin islands. The house hopes to vote on both bills some time after 4 30 p. M. Eastern before both measures go to the senate. Let me get to fox business adam shapiro. Hes these guys cannot leave town early can they . They want to leaver hi but here is the deal. Youre talking about that 81 billion Disaster Relief legislation tied together in the senate but some democrats are worried this isnt the words of one poultry solution to the problem of the hurricanes which is the southeast and texas, earlier this year and then of course the wildfires in california. So thats part of the debate, but whats missing from this spending bill, the continuing resolution, is the full year funding for the department of defense. That would have been dead on arrival in the senate. Thats out, so there is that and theres the pushing this to january 19 when they would come back to look at all of this there are some gains there would be chip funding through march 31 , 2. 8 billion as well as 2. 1 billion for veterans and the veterans choice program, so what theyre really doing is kicking this down the road to january. The house still has to pass it and the senate expect to do this tonight but here is what Sarah Sanders said about all of this getting done by the end of this week because we run out of money on friday night at midnight. We want a clean bill and thats what we hope happens and we hope it happens soon because we know all of guys and all of congress and everybody else is ready to make sure that the government is fully funded and functional and go home and celebrate christmas. But the celebration even if they do pass this in time to let them go home will be shortlived because they will have to do it again in january. Here is what James Mcgovern from massachusetts, a democrat said about this kicking the can down the road three weeks. And today, what theyre saying is lets kick the can down the road until january 19 and what will happen then, another crisis and that will be in the same situation and you know probably kick the can down the road another few weeks. Its not the way government is supposed to run. But it is how government runs theyve been doing that for years and kicking the can is a lot better than kicking the bucket. Back to you liz. Liz right now and adam i dont know if you know this but youve been talking we do have democratic congressman joe crowl ey, who has the floor at the moment and apparently hes saying he cannot vote for the funding for disaster because what was it, brad . Because he says its just a mess he cant in good faith do that. Well get more details on that in a minute but its the senate that needs democrats right now so were watching all of that while the federal workers chew their fingernails ahead of a possible shutdown, others are celebrating after their Companies Announced youre getting a bonus. At t, comcast, both of those Companies Said thanks to the tax cuts, theyre in a giving mood and give bonuses and then fedex, fifth third bank, southwest airlines, wells fargo all announcing they are prepared to pass along the benefits of tax cuts in the form of bonuses. Higher wages, more hiring and more investment. But Democratic HouseMinority Leader Nancy Pelosi said the bill will mrph into a monster. Well, i call it a victory because its a frankenstein and anybody familiar with that knows it was a monster created. You know the ending of the story , the monster comes back to destroy. Liz congressman fred upton is a republican from michigan and was chosen as the house tax plan confer see. Congressman, it may be a bit hyperbole ic to call it at this stage certainly frankenstein because the truth is neither side knows for sure what tomorrow will bring or how the tax cuts will play out but whats your reaction to the tax reform victory being called frankenstein . Well, lets face it a couple thing, the markets gone up 5,000 points in the last year, 100 points today. Folks are finding out just like we said would happen, a lot of businesses, large and small, in fact are increasing wages, giving bonuses because of the tax package that the president is going to sign in the next couple of days. Were going to see jobs coming back from overseas as well. I lost the largest employer in one of my counties a few years ago because the tax code in the u. S. Was so much higher than it was overseas. Liz who was that . So this isliz who was that employer . Paragot. A pharmaceutical manufacturer moved to ireland. You know, the taxes are still higher overseas but it was about time. You know, even president obama in his debate with mitt romney back in 2012 suggested that he supported reducing the Corporate Tax rate particularly for manufactures down to 25 . This takes it down to 21. Liz whether the cuts add to the deficit, that was one of her points. Some budget experts do anticipate that the federal deficit meaning Government Spending exceeds revenues coming in will hit 1 trillion by the end of 2018 and she says republicans shirt their duty to be fiscally responsible to future generations. You know that used to be republicans argument. There appears to be a role reversal here. Well a couple things. We do care about the deficit and for me i worked for president reagan a lot of years ago. Youll remember the first couple years when president obama was in office, the deficit did exceed a trillion dollars, so were going to go back there hopefully just in the shortterm , not beyond that, but its important that we get real growth. We had some years we had. 7,. 8 maybe even 1 economic growth. Pretty anemic. We think that we can see growth rates get to four, five, maybe even higher as a percentage. Thats how we get out of these economic doll drums weve been in for the last seven or eight years. Liz and the gdp, i think the Third Quarter gdp came in at 3. 2 but the fact is with less money withheld peoples paycheck s on balance will be bigger in a matter of weeks, but as you look at what happened when it came to the carried interest issue, this is that loophole for the very wealthy, and then you look at the corporate rate, we wanted to put up some comparison here and it is true that carried interest, people, those are the billionaires and private equity will pay a 20 bracket rate. Corporations will pay 21 , and then people making 38, 700 up to 82000 have to pay higher than those two . Granted 1 higher is 22 but how do you answer to your constituents about that . Well a couple things. Youve got to remember the bill that we passed because of the senate rules we couldnt make the individual cuts permanent so they bounce back in eight years. Im hoping that the congress will see the progress that weve made eight years from now and can make these cuts permanent but we also know that because we doubled the standard deduction, were going to see the number of individual filers drop from about 30 today to no more than 10 or 15 in the future, so long term, everyone ought to benefit from this. Theyre going to have a lower tax bracket. Were increasing the standard deduction and both taxes for large and Small Businesses are going to come down. Liz yes or no before we go are we going to see a Government Shutdown . No. Weve got the votes. The early poll, the exit polls are in were doing a web check now. Pretty sure that the government will stay open. Weve got the votes in the house not only for the supplemental for the Hurricane Relief but also to keep the government open until january of where well reach the grand compromise to get things done for the balance of the year. Liz god forbid it somehow gets tripped up you dont go back to michigan. We got the votes well be out of here this afternoon. Liz congressman thank you. Happy holidays thank you so much yes. Liz hit the road, jack. And the congressman and jill and all your relatives and their relatives and so on so on with the closing bell ringing in about 48 minutes, dow is up 93, some 107 million of you are expected to travel by car this Holiday Season and we warn you this evenings commute, not tomorrow night, may be the worst of it. Jeff flock in the thick of the action on the roads of chicago as the heartland heads home for christmas and come travel back in time with us. To 1995 when the o. J. Simpson trial captured the attention of the american public, amazon sold its first book online. Braveheart was the top movie, starbucks rolled out the frapucc ino, but Something Else happened 25 years ago that matters way more to your money today. Will we top it by new years eve . Our floor show traders might know, thats next. Trish mom tell jordan this is how we do it, one of the biggest hits of 1995. Well this is how we do it in 2017. Take a look, the dow, the s p and the nasdac having blockbuster year here, and nasdac is just in credible up 29 , the dow better by 25 , the s p up 20 . If the dow hits 25,000 by the end of the year, that will shatter a 22year old record. At this hour, were about 185 points from the dow having its best year since 1995, when it comes to percentage gains, so with only five trading sessions left in 2017, can the dow make history and get to 25,000 . Keith what do you think . 90s funk music and liz claman busting a move i never thought id see that on air but here we have it. Awesome. Liz at this point my children would say no, mom dont embarrass me. So the question is can we get to 25,000 . I think the answer is a resound ing yes. Listen weve not backed off a lot. We take a couple of pauses here or there. We get bad news, not even the prospect of the government being shutdown on friday is enough to derail this rally and i know myself included but a lot of us traders scratch our heads on a daily basis but theres no overhead resistance from a technical standpoint, nothing to stand in the way were about to get into santa claus rally week and were perfectly poised to hit the 25,000 and now were only 194 points away. I see no reason why we dont get there. Liz bubble, excitement, larry where do you stand what do you think . Well, do you know what . I dont think were going to do it because it seems too obvious we will. Less than 200 points away at this point i think its really hard, liquidity is going to be low, people are squaring positions right now. I think maybe well do it in the First Quarter of 2018 but you know, end of the year i dont think its going to happen. Liz alan wants to shut your mic off larry. Too bad. Im questioning where are the bears. Thats really my question. There are three things the market should be worried about here, that weve had 71 days without a 1 move in either direction. Right now, theres a 4 short value out there which is above the historical average of 3. 8 , and lastly, the Hedge Fund Leverage right now is at a highest level since 2007, so those are all dingers, but im still looking for a number, 3000 in the s p which is about 10 about where we are for 2018. Upward and away. Liz gentlemen . The volatility index, the fear index has languished below 10 for much of the last month. Look at it. Keith i get nervous. Those stats that alan just gave make me wonder, is it lurking, what could trip it up and we have good economic data. We have strong earnings, so there for, we depend hopefully not on Something Like north korea . Well i dont even think thats going to derail it unless they fire a missile and it hit california. Im like everybody else i look at the market and get concerned about where we are in the cycle where we are with some of the fundamentals we look at underneath, where we look at the internals were getting a little stretched so youre previous guest just said hes worried about where the bears are. Ill tell you where the bears are. Theyre all dead. Anybody trying to shirt this market has been taken out on a stretcher and they have no more cash so the other thing ill comment to what larry said is 25,000 seems a little too convenient. I will tell you on the equity side of the world thats exactly why we will get there. Well get close and somebody would just go ahead and hit a program and push us above the mark. Liz larry listen. The eagles say ive got a peaceful easy feeling. I do not. I do feel very strong about the economy; however, i worry who knows what forces the hurd to suddenly shift and the bears come in and trample the bell. Yeah, and when it happens its going to happen quickly and to your point earlier, being so low for so long not just in the stock market but everywhere else whats going to happen when theres risk premium in some emerging market bonds or some of our bonds . What happens if the fed does hike three times next year for the wrong reason and then theres an exit . So there is, you know, perfectly good case to be worried so on the other hand being worried is whats keeping the market going higher every day. Liz we just succeeded in taking all this smiley, happy, this is how we do it and just ruining it alan. One quick word, alan quickly. Yeah, five years 95, 96, 97, 98, 99 the s p all exceeded 20 so just because it happened this year doesnt mean it cant go a lot further and happen again in 2018. Liz everybody should remember its not just up or down crash or wonderful. You could just move sideways great to see you guys keith, alan, larry thank you so much. Thank you. Liz are you guys going to fill up the car before you head to grandmas house . Closing bell ringing in 38 minutes, chevron leading the dow 30 today big oil climbing to a threeyear high after cowen co. Pumped up the Oil Producers price target to 160 right now its at 124 and been up about 3 yeartodate. Room to run because the s p is doing much better. Sharks circling Discovery Communications at this hour after bank of america bumps it to buy from neutral, raising its price target to 30 from 26. Discovery is down more than 16 since announcing in july it would acquire scripps net work so its only the sharks on tv circling certainly not the short sharks discovery up nearly 5 . Its about time to wrap up the work week a little early, hit the holiday road which is what jeff flock is doing in chicago. Jeff . Jeff this traffic jam, liz ill tell you, this is tday or dday for travel its the hour approaching the full story from the expressways in chicago in just a minute. The moment a fish is pulled out from the water, its a race against time. And keeping it in the right conditions is the best way to get that fish to your plate safely. Sometimes the product arrives and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. We took our world Class Network and we developed devices to track environmental conditions. This device allows people to understand whats happening with the location, but also if its too hot, if its too cold, if its been dropped. Its completely unique. If you have a sensor that can keep track of your product, it keeps everybody kind of honest that way. Who knew a tiny sensor could help keep the food chain safe . Trish holiday travelers praying this doesnt happen to them this weekend. See that dark shadowy area and all those people . This is atlantas hartsfield airport sunday after a mas