Why rob portman is hopeful. Mick mulvaney is warning. And steny hoyer is fighting mad. Theyre all here and only here. We begin with blake burman with the latest. Blake . Its clear here in the halls of the capitol as House Republicans mark up their bill and the senate will release their bill later this week. Theres a host of issues to work through. Earlier today, the club for growth, an influential Republican Group put out a note saying they have issues with four Different Things on the individual side of this House Republican plan. Here they are. Top tax bracket for millionaires with the possibility that those that make in the low Million Dollar range can see the top end taxed north of 45 . They take issue with a portion of passthrough profits would be taxed 25 . Growth. You had big deficits. It wasnt tax cuts that did it. Cuts create growth and growth creates revenues neil but you left out Ronald Reagan. I know. Deficits didnt grow with him. The first two years were high because we phased in the tax cuts and had no growth whatsoever. Once we started getting the growth, the revenues increased dramatically. Neil what you and i im trying to egg you on. I can feel the poke. Neil one of the things i noticed, more revenue comes in, if you see that from tax cuts history bears that out, whether republicans or democrats, they will spend the revenue. Theres little opportunity and moments for republicans to address this. Even tepidly trying to get a hand on spending what did you make of that . I make it that republicans are just ashamed of being themselves and get over it a and
kennedy being rich. Theres nothing wrong with being rich. Theres something wrong with being poor. We want to make the poor richer. Neil what would Ronald Reagan think of these provisos he in here, a real rate that balloons north of 45 he would gag. We cut the highest rate from 50 to 20 and cut the corporate rates. We raised the lowest rate. We went 14 brackets to two brackets. We got rid of the deductions. Just the things that these guys are putting back in. We had it and passed 97 to 3. Hello most of the democrats today like schumer voted for it. Harry reid voted for it. They all voted for it. Now theyre playing nothing but politics. Its sickening. Neil do you see the bipartisan support . No. What i tried to do is with a number of democrats that ive talked to is talking about
complaining going on. People say im not getting a tax cut. Many people say with Mortgage Interest Capped come on. Neil im telling you what they said. In expensive states like new york, california, illinois, massachusetts where you cant deduct your state and local taxes. Will that be a provision as well . Youll like the senate bill. Its similar to the house bill neil including no deduction for state and local taxes. No deductions for the state and local taxes. Should the federal government subsidize neil i understand that. But senators from though states, theyre going to go ballistic. They need to look at the entirety of the package. It lowers tax rates and provides a tax relief, 1. 5 trillion in tax relief to a lot of individuals in their states. In every group of taxpayers, there will be tax relief. It goes to the top. The stop will city pay their fair share. It wont be a tax cut in that sense. It wont be a tax increase for folks. Looks, its very clear that we have a broken tax code. Everybody agrees with that. Needs to be simpler, which this is and fairer, which this is. Finally, The Business Side is totally broken. Neil, you and i talked about this so many times. Its crazy that congress has allowed this to happen. Theres a study out showing 4, 700 companies that should be american are now foreign just over the last 13 years because we didnt go to this kind of tax system. Neil do you have any proviso in the senate, senator, that would require companies that do get a tax holiday to bring this money back from overseas to hire workers, expand plants and equipment . What if they pour it into stocks . Thats not necessarily what were doing. Were not doing a holiday. What were saying is theres a repatriation. They have to pay to move neil i understand that. What if they dont take advantage of that on do what you think Going Forward then, its not a holiday. Its permanent repatriation. So the other countries say your taxed where the income is earned. So you can bring it back without penalty. I dont think we should say to companies, wed like you to invest here rather than there. They have to neil will yours be paid for . The rap and the house plan is it doesnt add up and worsens the deficits. Both will have the same approach, which is to say out of a roughly 44 trillion in taxes well have the next ten years, yeah a 1. 5 trillion tax cut but thats based on a very low projection of economic growth. 1. 9 , which is what cbo says despite two quarters with 3 growth a 25year average of 2. 5
growth. If its under 2. 5, 2. 4, youll so a reduction in the definite situation because more revenue will come in. Neil you know the rap around the house is they have squeezed all of this 5 trillion tax cut to to a 1. 5 trillion budget frame work and not making it happen. Its a good structure because it focuses on the pro Growth Elements we talked about and immediate expenses. I think well have more than adequate growth to take care of the relatively smart part, 1. 5 out of 44 trillion. Were assuming certain things like the current extenders of taxes wont happen. They always happen. That talks about 500 billion alone out. I feel confident. Youll like the senate bill. I think youll see as we go through this process, yeah, there will be some partisanship and so on. When you look at the facts, this is good for middle class families and good for small
businesses and good to make our International Businesses competitive. Thats what we have to do. If we dont do that, we have neil and youre confident it will be yes. Neil all right. Virginia and new jersey. Two states with gubernatorial elections. Did any of you catch what was going on in new jersey with Chris Christie having a dustup with a voter just after voting . Only in jersey. If you have moderate to severe Plaque Psoriasis,. Isnt it time to let the real you shine through . Maybe its time for Otezla Apremilast . Otezla is not an injection or a cream. Its a pill that treats Plaque Psoriasis differently. With otezla, 75 clearer skin is achievable after just 4 months,. With reduced redness,. Thickness, and scaliness of plaques. And the otezla Prescribing Information has. No requirement for routine lab monitoring. Dont use if youre allergic to otezla. Otezla may cause severe diarrhea, nausea, or vomiting. Tell your doctor if these occur. Otezla is associated with an increased. Risk of depression. Tell your doctor if you have. A history of depression. Or suicidal thoughts,. Or if these feelings develop. Some people taking otezla. Reported weight loss. Your doctor should monitor your weight and may stop treatment. Other side effects include upper. Respiratory tract infection and headache. Tell your doctor about all the medicines you take. And if youre pregnant or planning to be. Ask your dermatologist about otezla today. Otezla. Show more of you. Folks like you that is such a unique joy. It is. Youre fabulous. Any other questions . Neil admit it. Welcome back. Im neil cavuto. Youre watching your world. That was Chris Christie after voting in new jersey today. Encountering an angry voter. It happens sometimes. Gone are the days that he would be pointing an Ice Cream Cone at people. Eight years are about up. His republican Lieutenant Governor is facing an uphill battle to continue Republican Leadership in trenton. Looks problematic. The gubernatorial contest not only in the garden state but what is happening in virginia where republicans think they might have a better chance there. No way to tell. I know aaron mcpike has a good idea. She follows this closer. Erin, how is it going here . What are the issues deciding this . How much is the president an issue in both of these states . By the way, two states he lost
last year. What do you think . I dont think trump factors into the new jersey race at all. You can say that he maybe does. Chris christie is going out right now as the least popular governor in the entire country. This is just as much about him in new jersey neil by the way, polls bear that out. Youre right about that. But face it, this drama with voters, youre going to miss it. I know someone that follows this. Youre going to miss it. Four years ago on election day, i was there in that very parking lot covering Chris Christies reelection when he voted for himself. Neil in new jersey. We will all miss covering Chris Christie. He went in with a bang and going out with a bang. A democratic will likely win and it will be a huge shocker in the republican pulls that one out. Neil phil murphy, paid his way to play, very wealthy and he could have the trifecta running the legislature and the assembly as well. Thats where new jersey could possibly go. How about virginia . You know, neil, this race is very close. I think metrics show that Ralph Northam, the democrat, is likely to pull that out by a nose. It wouldnt surprise me at all the ed gillespie sneaks an upset. A small victory. Hes closing stronger than the democrat. The democrats are nervous. What i would point out, in virginia the statewide Office Holders dont run as a ticket. So the governor and the Lieutenant Governor run separately. I can easily see ed gillespie eeking out a small victory but
the democrat, the Lieutenant Governor, this attorney, Justin Fairfax who is exciting a lot of democrats could win it. Could be a split State Office Slate there at the top in virginia. Neil well watch closely. Fastmoving times. Eric mcpike, thanks. What will happen for you and your money . Were covering this at 8 00 p. M. Tonight. As long as it takes, including president of the United States speaking from asia on north korea. A lot happening concurrently. Nobody gets better the intersection of wall street with your money and politics. We think that it matters to you. We all pay taxes more than get involved in the markets. We marry both. We will cover both. Well be there as late as it takes because water told that pizza will be on the company. All right. Plenty of pleasant tries back and forth in japan and south korea. China is a crucial player here. What is the president getting out of china in those talks . What potentially could he get . After this. I dont want to sound paranoid, but dya think our recent online sales success seems a little. Strange . Na. Ever since we switched to fedex ground business has been great. Theyre affordable and fast. Maybe too affordable and fast. What if. People arent buying these books online, but they are buying them to protect their secrets . . hi bill. If that is your real name. Its william actually. Hmph affordable, fast fedex ground. Show of hands. Lets get started. Who wants customizable Options Chains . Ones that make it fast and easy to analyze and take action . How about some of the lowest options fees . Are you raising your hand . Good then its time for power e trade the platform, price and service that gives you the edge you need. Alright one quick game of rock, paper, scissors. 1, 2, 3, go. E trade. The original place to invest online. I enjoy the fresher things in life. O. Fresh towels. Fresh soaps. And of course, tripadvisors freshest, lowest. Prices. So if youre anything like me. Youll want to check tripadvisor. We now instantly compare prices. From over 200 booking sites. To find you the lowest price. On the hotel you want. Go on, try something fresh. Tripadvisor. The latest reviews. The lowest prices. The freestanding, cordfree vacuum that can live anywhere because it has two rechargeable batteries. That means you can always be charging,
even while youre cleaning. Welcome to hasslefree runtime with shark. Even while youre cleaning. His family. His steinway, which met a burst pipe. So grant met his insurance you are caller number 12. Which didnt quite cover the steinway. But what if hed met pure insurance . Owned by members. Hed have met lisa, your member advocate. Whod introduce him to gustav, a temporary address, and help him get tickets to the mozart festival. Excuse me, grant likes beethoven uh, the beethoven festival. Pure. Love your insurance. Stressing that china is in the best position to actually do something about kim. Remember, the 24th of october, Chinas Communist Party finished their tenday long meeting that only occurs every five years where they choose not only the next president , which is xi again but they discuss foreign policy. Hes in a better position to be doing this and china have the key to it. Neil china has agreed to the Bank Of Japan this is where they exert influence telling all banks to stop doing business with north korea. Not just one commercial institutions but all banks. You think the chinese have honored that, that their word is their bond and theyre doing that . Well, i think that they have a history of violating sanctions every time weve imposed sanctions. So i think we have to be going
into this with a certain amount of skepticism with regards to china. Remember, trumps policy, you do business with north korea, you dont do business with us. That applies to china as well. They have some incentives here to make a difference in this situation with kim. Neil they talk to talk. The criticism, sir, is that they have not walked it. The president will push them to walk it. Its that complicated by the fact that the president there is now almost a diety that makes it very difficult to do so what do you think . I dont know that i buy that logic. The last thing that china needs or wants is war on the korean peninsula. Remember, north korea is a buffer between china and the west. Certainly south korea, japan and the americans. But i think that they dont want
war there. They dont want refugees coming across their border. Ive heard analysts say they dont care. They do care. Its a huge problem for them. China has serious issues. So they have every reason to want to resolve this short of war. Neil let me ask you, general. When you and the president refer to north Korean Leader as rocketman, something that hes chosen not to do of late, what do you think of that . Its not a term that i would have used. But this is donald trump is. Hes unconventional. Hes a different guy. He has the chinese as well as the north koreans so confused about who he is, what he is, how far he can be pushed. On balance, its a positive. Its not what i would have said, not what most politicians would have said. Hes not a politician and thats why they dont know what to think of him. They dont know what he will do next. Neil there is that. General, thank you very much. Very good seeing you. Thank you, neil. Neil were getting sad confirmation of some news in the baseball world. Authorities are confirming that Major League Baseball pitcher roy halladay has died in a Small Plane Crash in the Gulf Of Mexico off of the coast of florida. The Sheriffs Office marine unit responding to a downed plane. No survivors. He retired in 2013 after 12 seasons with the Toronto Blue Jays followed by four with the philadelphia phillies. He was the only victim. So presumably the only one on the plane. Sounds almost like a Thurmond Munson type of situation. More after this. Delivers more of those purchases to homes than anyone else in the country. because we know, even the smallest things are sometimes the biggest. Sign it. So thats an easy answer for us to give here at the white house. Our principles remain the same. We want lower taxes in the middle class, simpler and fairer in the middle class and we want the low Corporate Tax rate. Neil so youd say if it passed the house and the senate and there were people that could make a case that its going to raise cases on some in the middle class, the president wouldnt and shouldnt sign it . Your caveat is some people say. Some people will always say that. Say the committee the numbers we believe and why look at. Were not going to sign something that we think raises taxes. Neil do you think the bubble rate of 45. 6 , the Wall Street Journal made a big deal about, i know this can get overly picked apart. Do you know if he was surprised by that and might say, you know, wait a minute. I have a problem with that . Surprise is not the right word. Neil stunned . Chagrinned . Disappointed . Yeah, this is going per plan. Keep in mind how this works. We laid out our two principles. Middle class gets treated like this, corporate class like that. Those are the principles. We left it to the house and later to the senate to fill in the details. We work with them every day and can operating with him. We didnt write the legislation. Thats congress ideal. They wanted that authority and got it. So well see what they come up with. Were helping where with can and pushing where we can. Im not going to sort of give an opinion on what the final bill look like. Were along way from being finished here. Neil youre right about that. The Senate Finance committee will have their own plan and reconcile the differences. Do you know at this point whether it will be a dramatic difference between what the House Ways And Means has come up with . I actually i get the gut, neil, t