Give you his take on the treasu secretary testimony. He will give us an update on possible tax reform. Francis rooney was once a top ambassador. He will tell us whether the pope well have any influence on how the Trump Administration conducts business. He handed him a book about something we will take but thats what thats all about. The global manhunt for accomplices zeros and on libya and the bombers family. The attackers attackers father and brother have been arrested. There is a library port on who theyre looking for next. Two or three or ten points depending on which youre looking at tapping 21,000. And now slightly below it. Theyre focusing in on yet another record close as a federal services it might be prudent to wait to see if that slower firstquarter data is just a one on. Will start the countdown. The Federal Reserve agrees to weigh on data before raising rates for the as it focuses on drying down its 4 trillionollar balance sheet. The latest notes out of the Central Bank Less than an hour ago showed that it remained in a Holding Pattern and what theyre doing is a want to make sure the evidence of recent signs of an economic slowdown on the First Quarter were just a oneshot deal. If they decide to wait at all the market tends really like that. The s p 500 then we have the nasdaq up 15 points. Theyve a shot at another record close. 2402 is a level that we need to hit right now. Dupont one of the leading gainers on the board. As of more than a today. They push to extract even more value out of the Chemical Company upcoming tire. The changes in the company to deal load briefly combined them into one company before then carving out into three pieces. It does not go far enough in breaking up doubt. Were watching i want to get the turmoil hitting lowes today. Its down nearly 3 . They report profits and sales will below expectations. Reported strong earnings last week. Let me quickly check. We do have home depot and were not looking at that right now home depot is up a quarter. Has seconding harmed too much. Those two retailers they are skyrocketing. The private equity firm is working with American Eagle to make a joint bid for the team apparel rival. We have ever coming in such a patent had . Sources say that deal could be done in about a month. We are watching it. Treasury secretary Steven Mnuchin is testifying alive about the budget proposal. It is discussing a potential of the border adjustment tax at this very moment. You see the representative asking about that. Its very much a touching go the situation. Some of them like the adjustment tax. The budget over all received a rather warm welcome from republicans but of course the democrats really hate it. They specifically dont like the cut to Childrens HealthInsurance Programs by at least 20 over the next two fiscal years and then of course the planta medicaid. You are live in dc. Tell us exactly what we need to Pay Attention for. But our viewership needs to hear about tax reform. Its a unified message on tax reform. And it is combined with the budget message. The Trump Administration their budget message boils down to just a few key concepts. There must be 3 Economic Growth to balance the u. S. Budget. Steve mnuchin listed the only way to achieve 3 growth is accommodation of tax reform and budget cuts. Has proposed cuts and actually maintains current spending levels. Secretary mnuchin also testified just moments ago that the president s Main Objective is a middleclass tax cut and that future tax reform will pay for itself by eliminating almost all of the deductions except for those of Morgan Mortgage interest. Tax reform will play a major role in our campaign for growth. It has been more than 30 years since weve had comprehensive tax reform in this country. The administration is committed to working with you to change that. We head about a hundred people working in treasury on this issue now. During this mornings Budget Hearing the democrats lashed out at the budget director saint the trump budget will harm disadvantaged americans. Is an expression of our values. In your values and your bosses values are appalling. We are not can kick any deserving person of any meaningful program. We want to help people just as much as you do. The administration said this budget was crafted from the viewpoint of tax payers and without controls on future spending the nations debt will grow to unsustainable levels. Again, they talk about the border adjustment tax. The Administration Says it will work but will listen to ideas. They say we need it or you dont get tax reform that really works. We are about to talk to a House Republican on this. We will ask him about this. He is from ohio and ohioans like to sell the things overseas without it tax coming in because they use some of those. You cant miss those. Good to see. I think you so much. So just as the secretary was a defending the white house. The former treasury secretary under bill Clinton Larry summers speaking out right here on foxbusiness against it. And a preview of the wall street week. The numbers do not add up. There are optimistic economic forecasts they are further away from the professional consensus than any administration in more than a generation. It doesnt seem like the best bet but they are entitled to their opinion. But they are not entitled to violate the laws of arithmetic and logic. Our first guest is ducking out of the health ways and Means Committee to just give us a take on the negotiations. Representative is it being sold to the house at the moment. I was in a Budget Committee this morning as well. I am in both committees hearing a lot of testimonies. Overhearing right now is that they want progrowth tax policy. The goal has to be to get to 3 . Mick mulvaney was very good about that. He said if we dont get through growth we cant pay our bills which is also very true. The goal has to be lets not say we cant get the votes figure out a way to get there. Especially when over the history of our country we had averaged with averaged over 3 . You think democrats would like to see some of the same things. They just ran us there. Of course we heard yesterday from senator schumer and both of them look pretty and transcendent. Were not cutting spending. We are cutting borrowing from china. Every time we spend money we dont have we are borrowing from china. We have to start looking at that. This is the first time we received that. That is another important thing. I may not agree with everything in the budget we have to get to a balanced budget we have to start recognizing that every expenditure that we have i want to look at it from the taxpayers in point. Just like people were using their money. As a direction we have take. We have to get politics out of the way. Medicare and Social Security will be insolvent in 15 years if we dont do something. Weve got to do something. How we pay for this budget. The border adjustment tax. Ohio experts a lot. And also imports parts so that they can put things together to then export them. They say that the things are dead on arrival. Most republicans are speaking out they dont like it. Paul ryan is in a tough position. How do you stand on the budget adjustment tax. I do have concerns about who pays for it. He just told foxbusiness at three have weeks ago. How do we pay for if you dont do the border adjustment tax there is a ways to get there. I think we just had to be willing to Work Together to get there. Thanks for effort in to get there. And thank you to rush out of those committee meetings. Thank you very much. The closing bell is 48 minutes away. The search for accomplices in mondays manchester terror attack gained major theme in the past couple of hours. Into the family of the bomber there has even been a concession by one of them. The latest details out of the uk. The opec minister is arriving. But you u. S. Fractures have the upper hand and if they do how do they hold onto it. We are heading to the floor show next on countdown. Will you be ready when the moment turns romantic . Cialis for daily use treats ed and the urinary symptoms of bph. Tell your doctor about your medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. Ask your doctor about cialis. And get medical help right away. Eyet some cards limit where yout earn bonus cash back to a few places. And then, change those places every few months. Enough with that with quicksilver from capital one youve always earned unlimited 1. 5 cash back on every purchase, everywhere. Welcome to unlimited whats in your wallet . Tthats why at comcast,t to be connected 24 7. Were always working to make our services more reliable. With technology that can update itself. And advanced Fiber Network infrastructure. New, more Reliable Equipment for your home. And a new culture built around customer service. It all adds up to our most Reliable Network ever. One that keeps you concted tohat matters most does soon mean in june or does the Federal Reserve and the continuing soap opera entitled hold on were not sure what until we are sure to hike rates. You are an oil expert but i do have to hit these headlines right now. Bob miller is saying that the Federal Reserve is likely to deliver a rate hike in june despite the minutes that just came out from the month of may that look pretty quiet as he puts it. Bob miller is saying that the full employment has been achieved and hes got to do it. Holy 54 points. What are you hearing. There are mixed emotions that are out there. They have this great way of painting a picture and always leaving themselves and out. We come into this release with some expectations from june. There is wording in there that could let them back out and look at the fall. They have done this before in the past. Im not overly surprised at the tone of what we heard today. Its forcing them to not participate. We saw a lot of geopolitical concerns that are going on. Weve lost five points since we started talking and breaking this news. Youre based in london, and do people in london watched the Federal Reserve as much as we do here minute by minute. Is the biggest thing that anybody is watching. What are they going to do. The two elements that we are focused on we know that it was going to increase the interest rate. Theyre scared they are scared they have missed their window in the past. Th the Federal Reserve bank is pretty much okay on in part with increasing the interest rate. I think when you look at the dollar today we have not seen any big move in the dollar. And then it is consolidating. Im less concerned about that the euros just strengthened by a penny in the last i checked. To the Federal Reserve features and where they bet on the chances of a rate hike in june its a 83 right now. Lets just talk quickly about stocks and how they might be affected. Clearly looking at that opecs numbers that are coming out we clearly have been watching that. We are heading into a long weekend. With a lot of Economic Data coming next week. Weve always looked at this dependent number. They were close to sealing the deal to extend the output cuts. They do believe that. It will be extended by nine months. They absolutely had that. He does is not stand a chance. What is quite intriguing right now. You are stuck for six months and nine months and 12 months. Set the question that we are looking for. Opec often allies by the way. That is very important for us. That they need to make sure that the complaints part of that is met. And as they say very much in play weve head that. I know it you will be watching the big names. The big integrated oils also. Would it have the opportunity to move the markets tomorrow. I think they will see some of our utility telling up there. There is always eyes that are on it. I think its interesting how weve come so far in the last week. Everyone thought it was a big market pressure. Where you seen your highend clients putting their money. Based on the sideline. They are waiting for that. Theyre waiting for the consolidation to come away. We wanted to go about this one. Then we will see this fresh money coming back to the market. And that would produce the kind of a rally that we wanted to see. When we have the massive pullback market. What i said. Dont get carried away. This is an opportunity to get back in the market we have wanted to go high. We have a down 300 points. You cant miss it. Good to see all of you. Thirtyseven minutes away. General electric actually the biggest drag on the dow 30. There is such a thing. The companys 2dollar per share goal for next year they are facing in their own challenges after missing in the First Quarter sales estimates. A surprise drop in comp sales. Caused by the stronger strong dollar. Its been up more than 20 . Its not the worst thing in the world. They just lost eight a and two thirds percent. Up next, we are taking you to the uk life manchester look at this. In morning. As a search for those that may have helped it. Rick leventhal on the ground in england. More countdown coming up. I was wondering if an electric toothbrush really cleans. Better than a manual, and my hygienist says it does. But. Theyre not all the same. Turns out, theyre really. Different. Who knew . I had no idea. So, she said look for. One thats shaped like a dental tool with a round. Brush head. Go pro with oralb. Oralbs rounded brush head surrounds each tooth to. Gently remove more plaque and. Oralb crossaction is clinically proven to. Remove more plaque than sonicare diamondclean. My mouth feels so clean. Ill only use an oralb the 1 brand used by dentists worldwide. Oralb. Brush like a pro. Liz took all of 30 sick hours after monday nights bombing of the Ariana Grande bomb con interpret in manchester, that suspect police believed responsible for the horrific suicide bombing, worst terror attack in the uk since 2005, is that man, 22yearold salman abedi. Both younger brother and his father were arrested by counterterror forces in tripoli, libya, and apparent lit said not only was the brother aware of plans for the Manchester Bombing but was planning his own attack in tripoli. Man chess it police say the raids are not over. That they feel there is entire network here. That a controlled explosion was used in a particular raid in the city. They are assisting the security as soldiers and Law Enforcement officials has been stepped up. Fox newss Rick Leventhal in manchester on the ground a you have news of the investigation and a confession. Reporter liz, well get into details what we know. They quickly identify the bomber as salman a beddy, borne and raised very close to the arena where the explosion took place but his parent are from libya. His father lives there now. We learned according to man chess it police they arrested the older brother in manchester today. From libyan authorities they did in fact arrest his younger brother and their father for interrogation. Theyre both alleged ties to al qaeda and to isis. Now from the dow jones wire service we are learning that the younger brother allegedly told Libyan Authority that he knew about the plot, that his brother had been there three weeks before traveling back to london, heading to arena setting off the explosion, the younger brother worked on the plot with his brother and confessed allegiance to isis this is from the dow jones quoting libyan authorities. We have no way to independently confirm that but clearly Manchester Police are focused on anyone with any connection to this family and certainly to the man the police say carry the out this bombing on monday night. They did carry out raids this morning and this afternoon in the manchester area. There was an Apartment Building you mentioned they set off a controlled explosion. There were three arrests in manchester today believed connected to the monday night attack but the prime focus is whoever built the sophisticated explosive device caused such carnage, killing 22, including a police officer, wounding more than 100 our latest count, people that walked in and out of the hospital but 20 wounded are in Critical Condition of the big fear of possibility of another attack which is why this nation is on the highest state of alert across Greater Manchester weve seen a significant increase in the number of armed officers on mobile patrol at static points across the city. Weve been supported by forces from across the northwest and beyond and this forms part of our welltried and tested plans for any major terrorist attack. Reporter manchester of course is a city in mourning and the evidence of that is right here behind me in st. Ann as square which is now being filled with memorial, flowers and candles and other signs of support for the Dozens Injured and the 22 killed. Some of them have now been identified including a 45yearold mother and an 8yearold girl and 15yearold olivia campbell, whose own mother struggles to accept her death. Every possible scenario she is just going to walk in the door any minute, not even knowing what is going on. That she is in a hospital s