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Very important day. no doubt about that. he's had the very least, a rough 24 hours with the ross of roy moore in alabama. he has had this very nasty back and forth with kirsten gillibrand, highly controversial statements he made in a tweet, and he has never had, in the course of his presidency, a major legislative victory. this would be his first. now, we're just learning more about this in principle agreement between house and senate leaders on this tax plan. the corporate report reportedly dprut 35% to 21%. the top individual rate would be lowered from 39.6% to 37%. and the mortgage interest...

Republicans have proposed dopg that from 35% down to 20%. that will now be at 21%. why? because each point you raise the corporate rate that's $100 billion in revenue. they needed that to pay are to the plan. now take a look at the individual rate, house kept it at the highest level as 39.6. senate dropped it down to 38.5. what they have agreed upon is dropping it down to 37%. now why would you drop the top rate on proposal that democrats already say is weighted way too heavily towards the wealthy? two reasons. first and foremost this helps on policy side, high tax states, local tax deduction,...

Everything that we've seen across the country this year. >> and before we get that tape rolled by the tv pool, just want to recap something reported by the associated press on the details of the rates that have been set. michael steele, follow me here. the corporate rate, 21%, not the 20% the president asked for, not the 22% some suggested to bring that deficit down. the personal rate, the top rate going from 39.6% to 37%. this is good for the wealthiest americans. and among the tax breaks, they agreed that homeowners can deduct interest on the first $750,000 of a new mortgage. that's down fro...

Something to say about that, guys. >> what do you think? do you think that's going to happen? >> what do i think? it doesn't matter. i think they'll try to get it done. i think they'll get something on the president's desk by the end of the year. we'll see how that looks. if you want to point to two republican winners, marco rubio and susan -- susan collins is arguably the most powerful senator in the united states right now because she will hold the key to whether or not this gets done. she wants to see the final bill. cnbc has reported three numbers you need to know. 21% likely the corporate...

Because liberals are saying you are not going to get a tax cut here. and when they see the reality, middle class families 60, $80,000, how much money getting back it will be win. >> but those are -- >> guys, when you have the president, last time really talking on taxes when he was saying, oh, my rich friends, they are really not going to like me. this isn't good news for them. then when you see this individual tax rate down to 37% which was initially floated 39.6, that's just wrong. this is good news. and phil mattingly reporting at the end of the day this is what the president wanted he want...