It. Lets start with the breaking news and kasie hunt on capitol hill. This thing is changing by the minute. Ive been watching your coverage. Bring us up to speed on things like the Corporate Tax rate and the numbers republicans need to pass this. Whats up . Reporter hallie, this is an incredibly thorny math problem they are trying to solve as they are heading into the big unveiling for what promises to be a change that in law, in tax law that touches every single american. We are still learning exactly what the details are going to be, and we have some critical questions still. Behind closed doors theyre here in the ceremonial room in the lo longwirth office building. They are walking through fact sheets about the individual and corporate rates that are set to be incomed in this bill. Forgive me if i keep looking over my shoulder to see if theres anybody we want to talk to more about this. Essentially we they have given out fact sheets that basically line up with what we know. There will be an increase in the standard deduction for individuals, for example, that there will be some kind of compromise on state and local tax deductions. We are told right now and on this sheet it says it will be limited to property taxes and not include state and local income taxes. But at the same time were also hearing from people that this is potentially still in flux. So why are all of these details important . Because the speaker has to figure out how to make sure that coalition of members from new york, new jersey, other high tax areas, arent pushed so far that they decide they cant vote for this. Theyre trying to figure out how to pull things away from the corporate side because the Freedom Caucus has drawn a line in the sand and said no, you cant raise the Corporate Tax rate above 20 in the bill. Thats the other major side of this we havent addressed yet. And so that push and pull has led to theyve been in frankly, up all night. The details have been changiing all night. They have to keep the total costs below 1. 5 trillion and they need 218 votes. The materials that we are getting coming out of this room still leave major questions. For example, they say the Corporate Tax rate will be 20 , but theres no nation if it will expire. Theres a question around the Home Mortgage deduction. Right now under the proposal, any home that costs more than 500,000 according to this fact sheet, would not get to use the Home Mortgage tax deduction. So i have some questions about that. Is it do you still get to take a deduction on the first 500,000 worth of your house or is it excluded entirely. There are republicans from california where there are families who the cost of living is just extremely different. 500,000 buys something much different in washington or new york or los angeles than it does in austin, texas or milwaukee. These are going to increasingly seem like very ar cane details that will be hard to explain, but the important part here is that any single one of these things has the potential to blow up the process. Now, with that said, i do think theres a difference here than there was on health care which is to say the political imperative to get this done is so high. Everyone, republicans of all stripes, think this is a do or do situation. If they dont do it, they could risk their majority coming up in just about a year, or just about a year out from the midterm elections. I feel like we just sort of did this. I dont know about you. Thats weighing heavily on them and ultimately puts the foot on the scale that to this being more likely to pass than not. Potentially rocky path. As always, kasie hunt, the devil is in the details. Were probably coming back to you later in the show. I want to bring in Stephanie Ruhle who knows taxes like nobodys business. What a nerd. I know. The 500,000 cap on the Home Mortgage deduction. What stands out as the biggest questions republicans need to answer over the next hour or so . Whats interesting about that one is no matter what you do here, if you pull one lever, if you cut something, Something Else has to give. So all of this is who is going to yell the loudest on the other side . Who has the biggest lobby . You know that home builders, that mortgage insurers, that representatives to kasies point from more expensive states, from places like new york, new jersey, california, d. C. , theyll have a say. People will put their hands in the air and they were trying to offer something that helps the middle class. Which way do you want it. It underscores how complicated it is. So many people vote with their pocketbooks. Its visceral. People said i want my taxes lowered. At the end of the day, people vote with their pocketbooks. This matters to people on both sides of the aisle, but can they actually get this through . Its massively complicated. And casey mentioned it earlier. Were talking act pass throughs. Those llcs, just looking at them like theyre small businesses, theyre not. And you tell me, are people around this country screaming for Corporate Tax cuts . You know whats screaming . The stock markets because corporations are doing so well. Thats not to say it wouldnt be a benefit if their taxes were cut. But it doesnt mean its going to help the country. Thank you, stephanie. On the screen youre seeing a gaggle of reporters checking out their phones and waiting for lawmakers to walk out of the doors down there after this meeting. House republicans behind closed doors will come out. Well get more details on this. One republican who has come out is tom reed from new york, a member of the tax writing ways and means committee. Its a pleasure to have you on today. Lets go through the facts of what is and isnt in the bill. The Corporate Tax rate is down to 20 . We were able to make that permanent going forward. Thats a great win for america and the people back home for job creation. How do you pay for it . We call this a 1. 5 sausage casing. You have to look at the whole picture. There was a lot of give and take. Weve been working on this on the committee for seven years now. Every time you move dial, you hit another area. I think we found the sweet spot thats going to be able to get this done and get it to the president s desk. And the American People will win. What offsets the permanent tax cut for corporations here . Theres a lot of repeal of a lot of loopholes throughout the entire code proposal as we put the 400 pages out there. As this is released, take a look at it. Its 400 pages. We can read it. Well go through the process. We want the input to fine tune it better. This is a great victory for people back home. The 500,000 cap for Home Mortgage deductions, answer a question for me here. Kasie hunt pointed out, is that total cost of your home . Does it count toward the first half a million for somebodys house . Were talking about 500,000 worth of mor damatgage. Were talking about the debt and the interest being able to be deducted. One of the key things here weve done is by expanding the standard deduction, we made it simpler. People dont have to spend hours or thousands of dollars with their accountant to have people fill out their tax return. They can do it at home now because its simpler. This is not going to be a wiz bang pass the house kind of situation. You have a lot of different factions of the republican party. Everybody understands its politically important, but how do you expect to make these issues with the Freedom Caucus versus higher tax states like your own. We can work through this. Im worried about the special interest groups. We are appealing lop holes that the town of d. C. Is going to fight to protect. Weve taken it onto change the culture in washington. I know you have a lot going on today. One of your colleagues, peter king is out this morning talking about the time line for this. Heres what he had to say. Were going to be voting on this in two weeks. No one has seen it yet. And this could have catastrophic consequences in my district. Maybe it could help my district. I dont know. I havent seen it. I dont know how you can digest a bill of 1,000 pages with all the loopholes and exceptions that could be in there or all the unforeseen consequences that could be in there. You said yourself its 400 pages. How are members of congress and lawmakers and the American People supposed to figure that out in two weeks. I respect peter king. This is 400 pages. We comedy jean digest this. When we took carry of the elimination where they were going to repeal it, we have a compromised position. This is about getting to yes and governing for the American People. Theyre sick of the gridlock in washington. We have an opportunity to do it. Tom reed on a busy day. Thank you for joining us here on this show as the tax bill is getting rolled out at 11 15. Keeping an eye on that for the next hour for us here is a political recorder for the guardian, and zeke miller. I want to get your reaction to what you heard from the congressman. The Corporate Tax rate is going to be permanent. Thats significant. I think the devil is in the details. They still havent answered questikey questions. You have competing factions on the outside where you have corporate interests against personal interests. You also have within the House Republican conference the competing interests of the Freedom Caucus as well as members from high tax states of new york and new jersey who i think arent going to be pass if ied by the details. Where is the broccoli . They want to talk about cotton candy, helping the middle class, but you dont have a balanced indi diet with just candy. We dont know this is a balanced tax plan yet. Were still early in this process. Even though its been going on for nine months or so. Or longer as republicans have been talking about this. There is a lot of work to be done just in the house and when the senate takes a swat at this. The questions about whether or not this thing will ever come close to balance without using gimmicks or relying on Economic Growth projections and also the things like the questions about the deductions. These are an offer. Theres a lot of negotiation that has to happen. Zeke and sabrina, ill ask you to stick around and get your tax hats on. We have reporters live covering this. We want to talk about what President Trump is now saying about the Death Penalty for that suspected new york city attacker. And youre also going to hear from the hero Police Officer who is credited for making sure all of this was not much worse. No, im good. Come on, moe. 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Were gonna beat this and this is the place thats gonna help us do it. That feeling is priceless. Learn more at cancercenter. Com Cancer Treatment centers of america. Appointments available now. But he hasoke up wwork to do. In. So he took aleve. If hed taken tylenol, hed be stopping for more pills right now. Only aleve has the strength to stop tough pain for up to 12 hours with just one pill. Aleve. All day strong. 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. Is calling for execution of the suspect in the new york terror attack. Here is what he is tweeting today. Would love to send the nyc terrorists to guantanamo but it takes longer than going through the federal system. There is also something appropriate about keeping him in the home of the horrible crime he committed. Should be fast. All caps. Death penalty. Thats not quite what we heard from the president when he was encouraging his administration to send the suspect to gitmo. You see the sketch. Were learning disturbing details about this attack. We are joined from near the scene. Christen, bring us up to date on what we know so far about Sayfullo Saipov and what were learning from prosecuters here. Reporter good morning. Sayfullo saipov didnt say much in the hear bug hes been talking to investigators in his hospital room weve learned from lot from that criminal complaint. He says he has been planning this attack for more than a year. That he took a dry run just last week renting a home depot truck and traveling on this same route to scout it out. He didnt plan on it ending here. He said he planned to go to the Brooklyn Bridge to commit for carnage and that he chose halloween because he thought the most people would be on the streets. Theyve also been looking into his cell phone. They found 90 or so videos. Many of them showing isis fighters killing prisoners. Disturbing details out of the complaint. Were also hearing more from that hero cop, and heres what he had to say about how it all went down. Although i feel we were just doing our job like thousands of officers do every day, i understand the importance of yesterdays events and the role we played and im grateful for the recognition. Reporter and a lot of people grateful for him ending it here where he did before it was even worse. As you can see, hallie, the bike path back open today. People are out trying to go about their lives. Also mayor de blasio on his way to a high school where he will be talking to the students and then taking some questions from the press. Perhaps well learn more from him as well. Definitely more developments later today. Christen, thank you. I want to bring in former fbi assistant director from new york bill gavin. I want to talk about new details weve learned. Prosecuters are saying now this guy picked halloween to basically do the worst possible damage, he was also thinking about going to the Brooklyn Bridge and asked if he could fly the isis flag in his hospital. What does that say to you . It just shows the state of mind of this individual. He was committed to do what he did to pick out halloween, hes probably telling the truth. Most number of people out there and then go on the Brooklyn Bridge. The pedestrian walkway is there as well. He tried to do as much destruction as he could. He was limited based on the fact that he hit the school bus and injured the poor children and adults in that as well. But thank god that stopped him, and Police Officers from new york city did his duty and did the way he was trained to do. It showed you how well police are trained in new york city. Its a terrible thing. And wants a flag in his room, that pushes the sensibilities of anybody, i believe. New York Police Commissioner james oneal was out this morning talking with us on the today show about how people just in general can try to stop attacks like these. I want to play it for you, bill. Listen. Its going to take all the people in new york city to Pay Attention to whats going on around them. Maybe take off your headphones and stop looking at your phone. See whats going on around you. If you see something that doesnt look right or makes you uncomfortable, not just you should call, i think you have an only fact to call. Give us the opportunity to investigate. Is he right . Are people, are we not being observant enough about this new reality were in . Well, perhaps he is, perhaps no. People walk down the street every day. They walk into lamp posts and cars and pedestrians. They talk into each other. Its terrible the way theyre constantly look agent those phones, but it is the way of life. Its the electronic stage. What we have to do is maybe pay a little more attention. I can empathize with what he has to say. You really do. Stop doing that as frequently as you do and maybe look around. Pay attention to whats around you. Could it have stop third down particular case . Here he is a guy in a truck just driving down the street. Maybe after he pulled up on to the bicycle way, but certainly not coming down the street why is he any different than anybody else in a truck in new york . I assume youve seen the president s tweets this morning. Hes out calling for the Death Penalty in this case. I want to talk to you about how that complicates matters potentially for the prosecution, for investigators. What was your gut reaction when you saw the tweets from the president here about this . Its just not helpful, hallie. Stay off the tweet thing. Why specifically is it not helpful . Its not helpful from a prosecuters stand point. If theyre going to challenge his mental capacity, that kind of a defense, its not well it doesnt suit the case well for the highest ranking person in the United States to say give him the Death Penalty. That is going to come into play. Hes going to listen to those words again if thats the kind of defense theyre going to launch for this individual. Its just not helpful to call him names, to say that he should ge