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Reacting to the economic reality, wall street is okay with hiking rates. they've begun that cycle. the market, the rally didn't miss a beat. remember, when janel yellen hiked rates, it was one of the worst in history. hiking rates for any reason other than the fact that the economy is coming on. so j. powell is coming in there. i'm not concerned there. the fact that, my only concern is i'm so excited and co convinced around this market, you want some doubt. right now i feel good. everything i'm looking at points to the economic revive value gaining steam. >> neil: heather, it's wonder what the...

Family and help his businesses. let's start here. tax cuts for pass-through enterprises, he owns hundreds of those businesses. that's when a company's passed to owner. for somebody like trump that means a top rate of 39.7%. the house lowers to 25%. that's key here. the senate bill redoozes taxable income essentially lowering the tax rate. either way that's a nice tax cut for the president. there are also goodies for the trump family business, real estate. both lower the tax on income, a pool that the trump's and kushners use, the senate version allows bigger while the house plan won't cap. fin...

We are done here. [laughter] this week present from surpassed an important milestone. more twitter followers in any world leader including the holiest of commuters hope practice. the record was made after his personal twitter account at real donald trump passed 39.7 followers and has more than the popes nine different twitter accounts combined. more on this we saw comment from pope francis. >> i congratulate president trump on his impressive twitter followers but i urge all good people to watch the greg gutfeld show it is my favorite and will be yours to. [laughter] greg: quite an endorsement....

People earn. they haven't decided yet what the income requirements are going to be. >> that's the big question. why is the past-through rate so important? and how they'll enforce it also. >> well i don't know about the enforcement angle of that. the past-through rate is something that is very good for entrepreneurs. >> small business? >> small business. they have an llc or limited liability partnership. or llp. and they are paying their taxes through the stated individual rate. so you lower that pass-through rate to 25%. top rate was 39.7% in 2017 so that's a 14-point deduction. or discount. >...

But take a look at this. the purple dots you see on the map from noaa and the usgs all though the major flood areas. look at houston. you can see that concentration being particularly hard hit. here's what we know at this hour. areas just north of houston are reporting 39.7 inches of rain so far. forecasts show the potential for 20 more inches. at least three deaths in texas are blamed on harvey and six members of one family are feared dead after the van they were in trying to flee the rising waters was swept away. texas governor greg abbott says he's deploying the entire texas national guard....