Leave it. President says hes done negotiating on health care. That crucial vote now set for later today. Keystone green light, the president set to officially reverse one of the obama signature Environmental Policies this morning. And then markets on track for their worst week since november, wall streets keeping close watch on d. C. And any progress for the trump agenda. President s pushing hard for House Republicans to pass Health Reform today. In the past hour he wrote after seven horrible years of obamacare, skyrocketing premiums and deductibles, bad health care, this is finally your chance for a great plan. A lot of people wondering if they move to taxes is that like the market saying lets have dessert first, jim . Well, look, i expect there could be a quick leg down if he doesnt win. Theres always this weird kind of, well, you know what, legislation momentum, trump loses and its over. No, history says its not over. So i think that the faster they get no matter what tax reform failure or pass, the problem is pass means seven months in the senate. On health care. Yeah. You would rather bypass that and do something i would like to have the market come down quickly. You quoted thomas lee in twitter this morning. Id like to have that quick decline off of either way now, i mean, because i think the senate is not going to like this bill. Get this thing out of here. Get this thing out of here. But the best thing that could happen is that we would be talking about tax reform. Theres a great interview with Steve Mnuchin treasury secretary mnuchin im reading, and what i see about mnuchin is hes talking right there about tax reform. We have to have tax reform. And this thing, i mean, if the democrats with a mandate from obama could not get this thing passed for a year. This thing, yes, youd like to have health care, but what you really want is Economic Growth and jobs. Mnuchin is talking to mike allen of axios right now. Hes talked about a number of things, the dollar, Cyber Security and financial systems, and specifically tax reform and border adjustment. Listen to that. The border adjustment tax has certain aspects that are v. A. T. Like. And that system is a system that most of the rest of the world uses. So, you know, theres an argument that we should be on a system thats similar to the rest of the world. It is very complicated. So one of our concerns about it is that if the currency moves, then the walmart shopper shouldnt be impacted, okay . But if the currency moves, that has an impact for our exporters. So, you know, its a very complicated issue. Were looking at it carefully. As i said, you can expect that we are going to come out with a plan pretty soon. What does it say that were playing that bite right now and not Something Else about health care . Look, i think that it says all systems go. My work behind the scenes with these guys is saying, listen, this is not protectionism. What theyre doing is there are Certain Industries they want to protect that are not having a level playing field. I think everyone knows that theres Certain Industries they want to protect. Theyre not really as interested in this low dollar import. I do know that walmart, we want to clarify walmart would tell you only onethird is imported. Its not so much walmart. Walmart has great heft, which is why that stock hasnt come down. Pvh on the other side all imported, stocks up big because they have imported, but Manny Chirico against this, but the main thrust here is hes not talking about tax credits for health care. By the way, can we just understand if you had more jobs, then tax credits are good. If you dont have a job, the tax credit doesnt mean anything. I think thats often been lost in the ryan care shuffle. Ryan care shuffle. Ryan care shuffle. Were going to talk about political blame games maybe later today. Well see what happens. Your point though about the difference here on policies. Peter roskam had a quote where he said the aca had defenders. Taxes dont, right . But look, Everybody Loves a tax cut, you know . Yeah. Its not controversial. Health care is so controversial. Theres 60 of the people do not like this Health Care Bill. Nobodys even read it. I mean they send it to the senate, so few people have read this thing. All you hear about is im going to lose my health care. How about the dialogue with all i hear about is fedex is going to pay 20 . Who cares . Its great. Maybe fedex hires more people. I am a huge believer that if we can get to tax we get to jobs. If we get to jobs, we get the market higher. If we dont, then we have the tom lee scenario, which is the change. I only mention because somebody whos been right is someone i always want to listen to, someone whos been wrong, gundlach, i dont want to pick on gundlach, hes really nice, but if you fought the whole way and still fight it, im not going to give you the w. You get the l. But lees got a w. Tom lee as you know bullish for basically eight straight years this morning sees a drawdown in the first half. Now looking for equities to pull back to 2,200, 2225. Little more bearish. Yeah. I mean, there are people really believe the narrative that trump is finished if health care doesnt if ryan care doesnt finish. They get that way because im trying to make a point. My point is theres really historically no such thing as legislative momentum. There really isnt. Its like if you lose one thing it doesnt mean you lose everything. It is not like the cleveland browns. I try to analogize to sports because people understand. They understand the cleveland browns. They can have 17 draft picks, it doesnt matter. And you hear that senator schumer was saying i mean, the Washington Post the wall street journal is talking about if schumer were on the Supreme Court he would reject himself. So we got to get away from all these things that are just kind of irritants even though i obviously think Supreme Court very important. If we goat tax cuts, who is going to fight a tax cut . Maybe some severe republicans worried about a budget deficit. Right. I think trump would get a win. Yes, it would really help to have a win. And this thing, i mean, im trying to go over the bill last night. You know, honestly, i dont know what was tougher, watching arizona lose or just trying to figure out this bill. This bill is really hard. Legislative language has been tough to come by. Oh, could you give me a Rosetta Stone for this thing . I know. Heres New York Post as president is playing harder ball my way or the highway. Lets get back to Kayla Tausche whos been doing some yomans work on this over the past 48 hours. Good morning, kayla. Good morning, carl. For all of the drama and political theater yesterday it feels a little bit like the calm before the storm here on capitol hill with some procedural meetings happening. A Committee Meeting going on and a legislative session called by paul ryan all ahead of of course that afternoon vote that will take place some time between 2 00 and 5 00 p. M. Where theyre going to be taking up the American Health care act. And the balance of that vote really is hanging right now. Its unclear which way it will tip because there have been concessions made to either side trying to make some amendments to the essential Health Care Benefits for the more conservatives but also trying to find ways to pay for that for the more moderates. Well see this afternoon whether they went far enough in either direction or perhaps stayed in the middle enough to keep both of those sides in the camp of voting for it. Lets take a look at where the odds are on todays vote passing. We gave you some odds yesterday and a couple of those have changed. First start with goldmans because it hasnt changed. Alec phillips still 75 chance of this passing the house before easter recess. Compass point says 60 chance of passing today and thats the same as fbr and evercore moved down to about 55 . One possible point of contention as we get this to a vote is the fact we havent had a fresh cbo score. So the republicans can really sink their teeth into how much this is going to cost and where theyre going to find the money to pay for it and exactly whether thats something they can bring back to their constituents back home. Well, anticipating that ways and means chairman kevin brady acknowledged that this morning. It will survey every state in the nation to determine what type of Health Care Plans are right for them, what Congressional Budget Office will ultimately tell us is that more people will be picking up more plans because theyre tailored to their needs. He acknowledged its unusual. Chairman walden said there will be a score before it goes to the senate, but guys, just in terms of this discussion around tax reform, we know the president is a master at messaging. We know hes a master at changing the subject. So perhaps theres a sense that this tax reform discussion is a hedge of sorts because there isnt a current wip count or at least the white house wont give us one, so perhaps putting tax reform out there is a way to keep the market from going overboard regardless which way this vote goes. Well be coming back to you a lot this morning, kayla, as we look for more timing on anything procedural or final. Kayla tausche on the hill. Speaking of procedural, lets go back to what happened with obamacare. There was a super majority in the senate for 60 votes for obamacare. And then pelosi could get when she tried to get the house to pass the same bill, huhuh. Im convinced it cost the democrats the house because it was so difficult in 2010. You go look at this thing, voters just hate it when the Health Care Status quo gets messed up no matter what. So you really got a lot of things riding here, which if you pull back and the bill fails, again, we got the decline, its going to make maybe some people accuse say its like a t. A. R. P. Decline 770 points you dont believe that . No. But there are plenty of people who want to panic. Its almost like, hey, lets do some panicking. And i want those people to panic. I want them out. Mad money people and squawk on the street people, dont panic, but this would be the opportunity to change the dialogue because the senate will need until 2018. If were going to talk about this every day, i got to tell you by the end, carl, if you and i are talking about the tax credit for the 25,000 but not for the 28,000, i can tell you one thing, the stock markets going to flat line. And its just not you want jobs created, this is the worst thing that could happen. Worst. Weve been wondering how long how much patience there would be for that kind of policy. My way or the highway says it all. I mean he switches from president to chairman of the board kind of thing. Back into the notion that he could be the business president weve got mnuchin talking about the business president. The momentum is lost here. Its just completely lost. The swamp, he wants to get out of the swamp. He wants to be the swamp fox. Yep. Were going to come back in a moment talk more about the opening bell, todays movers. Keystones going to be a story today as the president issues that permit to build the pipeline to transcanada. Well talk to former senator tom coburn about everything from keystone to taxes to Health Reform. Take one more look at the premarket on this friday. Were back in a moment. The mercedesbenz of tomorrow will transform not just the automobile, but mobility itself. An autonomousthinking vehicle protecting those inside and out. And its the mercedesbenz of today that will help us get there. The 2017 eclass, with innovations no car has offered before. And that will change driving forever after. Lease the e300 for 549 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. State Department Announces it has issued a president ial permit to transcanada allowing the company to build the keystone xl pipeline. Project was first proposed in 08 but had been blocked by the obama white house. President trumps scheduled to make an announcement on keystone around 10 15 a. M. Eastern time. A lot of winners in this one, jim. But dont need to build it. Dont need to build it. Not now. No, there was a big work around. Thank you rusty bra sile for showing me, after the defeat other Companies Found ways to meet it, we even prefer a more permian pipeline, so dont get too excited about this one because it may be too costly. Im sure they want transcanada wants to do it. Theyll tell you that, but frankly, you know, we dont need that. Is it like a comment on the efficiency of the private market around it . Yes, it is. Because 50 oil youll see today they make coining money at 50. Permian has so much oil, didnt know that when transcanada was first proposed. Dont need that dirty oil. The part of Transcanada Pipeline already built very good. So, you know, its a statement. Its definitely a repeal of what we had before. But its also not that pertinent anymore because Companies Just said, look, they kind of bet on hillary winning, frankly. We moved on in a sense. Yeah. Meanwhile, opec is going to have a meeting in kuwait this weekend, try to assess the state of their cuts. Saudis need a price higher because they want to do the ipo. Some of these countries are cheating to a degree. But the big noncheater no one counted on is the u. S. Adding 100,000 barrels per month without a common increase has made it so we have too much oil. Now halliburtons giving a meeting, halliburton theyre saying things that are positive theyre being interpreted as negative. Everything you drill drilling is being we got this baker hughes count. Yeah. Did you know in 8082, there was a period actually when i was at Goldman Sachs we used to huddle. Huddle around a machine that gave us baker hughes. Were back in that game. Every time we see baker hughes up we say, oh, boy, there goes the permian, scoop, stack, the two really important shales in oklahoma. You saw an article today about fracking, thats because the more fracking sand the better youre doing these huge lateral drillings in the permian producing so much oil. Lets not forget were swimming in oil. We will not at low 40s. Theyll shut it down. But right now its pretty good. Too much oil. I still like some of the Oil Companies that can produce at these lower prices, but theyre permian. What about broader plays, lng exporters, airlines, automakers . Airlines have been going down. I know. Thats called stupid. Thats an algorithm. Its their chief cost. Ive been telling people to buy the airlines because you see im not an algorithm. I am a dollar sign represented by a man, and i can live with that, but im not an algo. I do like pets. There is without a doubt some silliness going on in the market. Lng, theres 47 billion worth of plants being built nobody talks about. Lng differential is very good for the u. S. Because we are people used to think kuwait has more. Its no longer the case. We have more and its 1. 15 we make. Somebody upgraded cabot the other day, theyre not making that much money but boy we have a lot to export. It was needed. What was shocking dominion has the best. Dominion is going to open up this copoint and theyre already spoken for. Theyre spoken for. These lng trains, the only trains i like even though someone another guy raises csx. People must think this guy hunter harrison, barclays raised 50, 5050, do they turn it into a biotech a phase 3 railroad about to be approved by the fda . No doubt about it a phase 3 railroad hes got going. I notice that call this morning they take it to 55, right . I had to have an extra cup of coffee just to understand that. Well tackle keystone. Youll see how big a story that is around 10 15 a. M. At the white house. Well get cramers mad dash, count down to the opening bell. Take one more look at the premarket. Speaking of oil that is set for the third consecutive week down, but futures are improving. Back in a moment. The great beauty of owning a property is that you can create wealth through capital appreciation, and this has been denied to many South Africans for generations. 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Com just about seven minutes to the opening bell. Lets get cramers mad dash. My favorite question today is who had the better beat in raise, nvidia or micron . Well, okay, micron had the forecast raise. I was looking for a buck. They go 1. 43, 1. 47. This is better than this reminds me of the 1995 cycle. This is the tightest remember these are boom bust stocks. A lot of people felt it was going to bust. That they would not be able to raise. This is all about not just drams but flash. It looks like by the way a readthrough to apple, a lot of drams are needed. The margins remain high, there are supplier problems. The skeptics on the call, they were like, well, you cant really maintain this, theres going to be demand destruction. No. Isnt there more supply coming . No. It was one of these Conference Calls it was like, will you shut up analysts and understand that were doing 5. 2 billion in revenues . Thi