Iran to terrorism our nation is facing new and increasing threats and talk about all of that today. A lot of news today as wall street is left scrambling for answers as a cloud of uncertainty is looming over the white house after general Michael Flynn pled guilty to lying to the fbi agreeing to cooperate with special Counsel Robert Mueller and his investigation into the russian meddling. How is this going to impact the president s agenda . Well break it down straight ahead. Meanwhile, Senate Republicans appear to have the votes, to pass the tax reform bill despite the concerns from several lawmakers on impact over the federal deficit. Well bring you the very latest on that coming up. Plus democratic congressman john conyers is set to hold a press conference, as members of both parties call on him for his resignation over all those accusations of sexual misconduct. Well take you there live as soon as that happens. Lets get back to the breaking news now on Michael Flynn. Ashley webster is live on the developing story. Hey, ashley. Reporter good afternoon to you, trish. Reports say mike flynn under tremendous emotional pressure as well as having financial worries as well. So he decided in the end feeling abandoned by donald trump to flip pleading guilty to lying to the fbi about contacts with Russian Ambassadors to the u. S. Over russian sanctions in december of 2016. Flynn released this statement earlier today saying in part now in court documents, flynn claims unnamed very senior trump official in the Trump Transition Team directed him to contact countries including russia about a u. N. Vote as well as speaking directly with the Russian Ambassador on the day to the u. N. Voted for sanctions on russia. These are backchannel negotiations that happened before donald trump took office. That is an issue. Saying about flynn, the false statements involved white house officials which resulted in his resignation in february of this year. Nothing about the guilty plea or the charge implicates anyone other than mr. Flynn. What extent if any is President Trump implicated, predictably, democrats say its proof that the russians had contacts with mr. Trumps inner circle and try to extend that to include interference in the 2016 election. Does carry a sentence of five years in prison, trish, but i tell you what, theres not one analyst who believes flynn will spend one day behind bars. Back to you. Ashley webster, thank you very much. I want to bring in former prosecutor david bruno and troy slaton, good to see you both. How much trouble do you think Michael Flynn is in . Flynn is giving up rights to a trial. So yes, he has exposure like we just heard. Its one to five years pursuant to the federal code. What happens if an individual cooperates is that the government at the time of sentencing will issue a 5k letter, advising the judge of the cooperation and the departure from the standard sentence. So depending on what he gives to the government and how valuable it is they get. Theyll be recommending a departure from prison time most likely. Thats where it gets dangerous, you can understand why somebody is tempted to give what is necessarily true in part. Absolutely. They themselves, and thats one of the fears. Ive heard Alan Dershowitz say this over and over, troy, theyre on a witchhunt expedition and fears you take someone like general flynn who has lied before and you put him in a position where hes up against it, and he says things that maybe arent entirely true. I dont know, is that a risk . Certainly possible. It is certainly possible, trish, because Michael Flynn is worried about his son. Hes thinking the long game, and certainly when hes looking at the possibility of federal prison, somebody may say whatever they think the prosecutors want to hear, but its important to note that whatever he was going to tell Robert Mueller and the special counsels office. Hes already told them. Whenever somebody is going to cooperate, they fill out a proffer or tell everything theyve got to tell. Called queen for a day. And the prosecutors here already know whatever it is that Michael Flynn has to offer. Well, and david, were hearing through reports over at abc that apparently Michael Flynn will basically tell them that donald trump directed him to have contact with the russians, its expected it was tied to concerns over isis and how to deal with isis and that is partly why those connections were made. I guess a lot of this maybe david will come down to timing. In other words, you do that as candidate trump or do that as president elect trump. I think if you do it as president elect trump i dont entirely understand what would be wrong with that if hes your National Security adviser and youre concerned about isis. I agree with you, timing is everything, not only timing, but lets not forget director comey was head of the fbi up until may and he was aware of recordings. The communications with ambassador kislyak occurred between him and flynn in december, all the way up until may, director comey was aware of these communications. Lets not forget director comey testified in june before congress that he advised President Trump three times that President Trump was not under investigation, and that is important because at the time that he advises President Trump, hes not under investigation here, was certainly aware of the kisslyak conversations in december. Lets get back to what theyre trying to prove, President Trump while campaigning was somehow working with the russians and his team was working with the russians to get him elected and therefore may have had a role in revealing Hillary Clintons emails and all of the things that landed her in some trouble. So i dont know how this gets them that much closer to that, troy, is there hope that flynn is going to reveal something that helps to feed that thesis . That is ultimately the hope and the mandate for the special counsel. His job is to try and determine whether or not there was collusion with the Trump Campaign in the 2016 election. Working with the russians to try and get him elected. And even if everything that flynn said is true and even if those lies that he admits to, if all that was true, if he was talking about that with the Trump Campaign, even if they were discussing sanctions then that doesnt mean that they were colluding to get donald trump elected president. I think its a stretch. Its one thing to be talking to the russians about how youre going to tackle isis and another thing to be talking to the russians about how do we how do we win this election, and somehow damage Hillary Clinton and reveal her emails along the way. Two very different things. See where this all goes. The market, thank you, david and troy. You saw the market tank 350 points on the news, but rallying back, and rallying back in part because people had time to digest this and thinking what i just said, one thing doesnt necessarily mean another, and the other reason were rallying back a bit though were still off 94 Senate Majority leader Mitch Mcconnell says guess what, the republicans have enough vote to pass the tax bill and vote on this as early as this afternoon. That is a very big deal. Wall street wants this. You know how much wall street wants this. Go to capitol hill where adam shapiro is standing by watching every single move as this happens in realtime, what can you tell us, adam . Live picture from the senate floor, were waiting for the managers amendment, this is chairman hatch, orrin hatch inclusion of the amendments that clean up the bill, the deals they struck with people like Susan Collins and jeff flake and ron johnson. All of it is in there. I want to give you the details what the final bill at least at this point in the senate is going to look like and we expect a vote later possibly tonight possibly tomorrow morning, but there is going to be in this, the keeping of the alternative minimum tax. The original plan was totally repeal the alternative minimum tax, it is not going to happen. It will stay in there with higher thresholds. The repatriation of cash overseas, raise the onetime tax that you would get if you are apple and bring billions back to the united states, 7 on illiquid assets, 14 on the tax. The property tax deduction. This is what Susan Collins wants will be restored with the cap of 10,000. Medical expenses, deduct those if you qualify for two years Going Forward and the passthrough income deduction for scorp. , small corporations, Small Businesses raised from 17. 4 to 23 . Thats what jeff flake wanted. At the end of the day, the democrats still not happy. Heres what Chuck Schumer said on the floor of the senate. In the waning hours this bill is tilting further towards business, even further away from families. No one knows what the final bill will look like. Why on earth wouldnt you want to spend more than a few hours looking at a bill of this magnitude. What might have been snuck in . Reporter as i wrap up, two other things included in the managers amendment. If you are a Business Owner and give your employees gift cards, that will now be treated as taxable income. Thats an issue and also the members of congress, one of the amendments will no longer be able to deduct their Living Expenses from their taxes. Back to you. All right, well, thank you so much adam shapiro. You know what they didnt bother to do . They didnt bother to go after private Equity Investors . The fat cats on wall street that get away with treating income as investment for some reason. Nobody wants to go, and i dont hear Chuck Schumer going near that one, perhaps because thats the guys banking on the campaigns. Joining me texas congressman jody arrington, good to have you here, congressman. Tell us your thoughts whether this is going to happen and whether it gets kicked back to the house, you will have massaging to do. I know with the senates track record, its going to happen, and were going to get hard working americans get an early Christmas Present and get to keep more of their money, make america competitive again and get this economy growing, and im excited about it, i think theres a great deal of optimism across the conference on both the house and senate. Close coordination, cooperation, consultation, its very different than the Health Care Reform and obamacare repeal. So i think im not just cautiously optimistic, im enthusiastically optimistic were going to get it done before the end of the year. All right, i dont have a problem with the Corporate Tax cut, i think corporations in america deserve a tax cut. Weve got one of the highest tax rates in the world, and it makes no sense, if we want to stay and be competitive. That said, you heard Chuck Schumer, you know how theyre trying to present this. This is to give away to corporations, not giving away to the middle class, the tough part is the middle class doesnt pay much in the way of taxes and how do you satisfy this sort of pr move in that whats good for business actually is good for middle class americans . If you would pass along to mr. Schumer that the 1980s called and want talking points back, okay . Those are tired, old, holo, if somebody needs to read the bill, its Chuck Schumer, this is squarely a tax cut if for the middle and working class, not just let hard working americans keep their money, its to give them a better job, a higher paying job. So we know if we had a 20 Corporate Tax rate in 16, 140 billion would have been reinvested. Grow operations here, create more jobs here instead of sending them overseas, this is great for america, great for the economy and our children, we want to be the envy of the world and can do that if we free up this economy and unleash the job creators. Neil congressman, you heard me say as we went into the interview with you, i was a little disappointed once again nobody has bothered to go after the private Equity Investors that are treating their income as investment. And its income, and we dont have to have that debate, i certainly had it many times on this show. It is income. They treat it as investment. And the president said he was not going to allow them to get away with that and yet congress and the senate still allows them to get away with it, why . First of all, there is more work to be done, were going to conference this for sure. But what we need to focus on is making sure we have tax cuts that are permanent. Tax cuts that are immediate in their impact. We dont need to delay them, we need to put a stake in the heart of the death tax, and we just need to make sure that we have the equitable tax, effective tax rates for Small Businesses as we do for the corporations, but theres no such thing as perfect, and we were talking about fairness, id say that we need to close the gap on people that pay nothing. One out of every three americans pays nothing in taxes, but they receive benefits. 50 of americans get more from government than they give. This is not going to be a perfectly fair, perfectly flat tax system but its going to be simpler, fair, flatter and its going to get our economy growing again. That is good for every american. You think everyone should have some skin in the game. Absolutely. And hard to give tax cuts for people that arent paying taxes in the first place. Giving out more handouts at that point. Good luck with it. Looks like you guys are getting closer. Congressman arrington, good to you have on the show. God bless. All right. Markets struggling right here today amid reports that Michael Flynn will be testifying that President Trump ordered him to make contact with the russians. You can see the big dip on the dow nonetheless moving back up, well, just down 88 points. After being down 350, that aint so bad. Anyway the Senate Tax Plan is expected to pass and thats partly whats fueling this. People have had a chance to digest a little of thes. On Michael Flynn. We have much more coming up live from the Ronald Reagan president ial library in californias simi valley. Stay with me. Im back in two. See you here. They appear out of nowhere. My secret visitors. Appearing next to me in plain sight. Hallucinations and delusions. These are the unknown parts of living with parkinsons disease. What stories they tell. But for my ears only. What plots they unfold. But only in my mind. 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Trish all right, we got some pretty wild swings in the market today, investors are trying to invest the bombshell news that mike flynn reportedly told prosecutors that President Trump ordered him to make contact with the russians. So you can see were faring okay, were just down 77 points at 24,195. But, nonetheless, saw a steep dropoff earlier in the session, joining me is robert luna along with our very own Nicole Petallides. Nicole, you are down there on the floor of the New York Stock Exchange as the news broke, we saw the traders take a step back, whats encouraging them to get back into the market right now . Whats interesting is they feel a couple of things, we had the gyration, a lot of volatility before lunchtime, we dropped 350 points at the low, and some people were saying im taking profits. Others said im going to buy. The idea behind the rebound, they dont know whats true. A lot of he said she said, so they have nothing concrete there. They are optimistic about the tax bill, were moving higher now off the 350 point lows. Down 77. And are now looking at the best week for the dow of the year 2017. Theres a lot of resiliency. The one element of caution is that traders while they bought on the dip and told me they were doing so is theyre a little worried about the sunday talk shows and the environment well be in coming in on monday morning, a little caution there. The big picture is positive, big picture on the tax reform. Trish yeah, i was talking with david and troy, the two lawyers at the top of the show, and i suppose one of the leaps that they have to somehow make in all of this is somehow if Michael Flynn who was responsible for National Security was talking to the russians about isis, how do you get from that to somehow the Trump Campaign was colluding with the russians to win this election for him . Thats a pretty big distance they got to run there, so perhaps as traders realize that and it sinks in, theyre taking some heart in that. I dont know. But robert, weve got a market that is seemingly unstoppable and find out they may get tax reform through. Whats that going to mean for things . I know, its crazy trish, if you think back a few years ago, bernanke sneezed and sold off 5, 10 and north korea testing Ballistic Missiles that could land in my backyard and nobody cares about it. When you see this news, its a testament to the resiliency to this market. To the earlier point, i think this comes down to taxes. The flynn news is a lot of speculation. Nobody is making longterm decisions based off of that news and its not going to have an impact on corporate profits but taxes do and thats the optimistic note were seeing coming out of senate that we could get tax reform, thats what investors care about. Trish what will tax reform mean to earnings, Nicole Petallides . And market valuations . That is a great point, honestly, when you try and take out the noise and drove the market over the last several hours to take out the noise and look at tax relief plan and when you talk about whatever its going to be 22 . Better rate for the corporations. Ultimately good news, it helps the companies, helps the earnings, helps the economy, helps with jobs and big picture brings optimism for the market especially with the transports. We talk about the truckers and the airlines and the small cap stocks, some of those will fare bert. Trish plus the ability to bring the money sitting offshore, bring it back home, let it work for us, thats good for american corporations, good to have you here, thank you so much. Were awaiting congressman john conyers set to hold a press conference just minutes from now. And all eyes on that. This is the michigan democrat comes under pressure to resign over allegation of sexual harassment, that is coming up. Will he resign . 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Call to save 500 off bath walls with your walkin bath, or visit kohlerwalkinbath. Com for more info. Trish breaking rice now, everyone. Former National Security advisor Michael Flynn pleading guilty to making false statements to the fbi. He admitted to lying about having conversations with russians ambassador. Now he agreed to cooperate with Robert Muellers russia probe. Go to fox newss capitol hill senior producer chad pergram will give us reaction from those inside of the halls of power. What are you hearing, chad . Reporter very interesting you talk to democrats you hear one thing. You talk to republicans hear something else. Mark warner had a lot to say. Richard burr, chair of the intelligence committee. We pursued him earlier from north carolina. He didnt comment. Said i have nothing for you, kind of walked away. Mark warner, the top democrat on the Senate Intelligence committee, he had a lot to say. Seems to deny this is not a major issue is donald trump. I just kind of wonder why. Warner pointed out he thought it was interesting that Michael Flynn pleaded guilty to only one charge. You cant make this story up. He found it rather incredible. Republicans see quite differently. Listen to what pete king the former chair of the house intelligence committee, republican from new york, what he had to say. Unfortunate general flynn served his country well. Obviously what he did there as wrong. I dont see this going any further. I dont see any evidence indicating connection with the general flynn and president involving russian collusion. Seems to cut along party lines. Steve cohen, democrat from tennessee. He is trying to bring articles of impeachment against the president. He compared this to quote, horse roars of watergate. They to protect the special counsel in this case Robert Mueller. He is afraid the president might do something and might have a saturday night massacre like in 1973. Trish did you guys see this . Thank you very much, chad pergram. Thank you very much. Check in on the markets here. You can see we were off pretty significantly on that news, that Michael Flynn would be pleading guilty. But now, managing to sort of hang on there, in part because everybody is very hopeful that tax reform is indeed going to happen. The market only down 71 points. Moving its way back towards the flat line as we continue our coverage live from the Ronald Reagan president ial library in simi valley, california. We have a whole lot more coming up. Including coverage of flynn. Coverage of taxes and coverage of the markets. Stay with me. I will see you right here after this. A type of irregular heartbeat not caused by a heart valve problem. But whatever trail i take, i go for my best. So if theres Something Better than warfarin, ill go for that too. Eliquis. Eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. Eliquis had both. 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I need that stuff like you dont know. And now that you do, please give at cancer. Org trish more breaking news on the general Michael Flynn story. Our Charlie Gasparino from fox business is reporting it may have been in fact Jared Kushner that told general flynn to have conversations with the russians. Again the timing is somewhat suspect on all this. The question was during his candidacy or was it when he was president elect . According to one article reported in the media it was during the final days of the Obama Administration and he was of course already president elect. David bruno, troy slayton are back with me. David, if he was already president elect or soninlaw or president telling general flynn have conversations to the russians tied to National Security how in that any way getting closer to the whole hypothesis that the Trump Campaign colluded with the russians to somehow take this election away from Hillary Clinton . No, i certainly agree with you and the recordings and statements that flynn pled to today do in fact when trump was president elect. But, i will note that while he didnt plead to anything related to collusion today this is the individual that would probably have information of it if it does exist. Trish Jared Kushner you mean . Was with him from the beginning, through the election, as the elected president and president. Trish okay. Okay. But, you know, maybe im missing something, troy, but i just think that, you foe if youre looking days aweigh from accepting the presidency of the president united states, and you have Transition Team having conversations with russians about how to protect everyone from isis, what is actually wrong with that . It is perfectly reasonable, and during Transition Teams, people talk with their counterparts in other countries and states. That is what you do. You dont want to come in on day one and not hit the ground running. So that is the whole purpose of a Transition Team. But what is important here is that trish let me break it down. Troy, hang on one second. For the viewer i want to break this down because there is this big bombshell report coming out of abc earlier today somehow the president told general flynn to have these conversations with the russians. What youre saying, if im understanding you correct, troy, is what my sort of gut instinct is on this, if youre days away from assuming the presidency it is not that unusual for the president to tell the National Security advisor, go ahead have conversations or Jared Kushner, for that matter who is very close to the president . With one caveat, trish. What youre not allowed to do is conduct Foreign Policy we heard bandied about something called the logan act t has never been tested. It has never been prosecuted but it is an old law that says youre not, if youre not in the government currently, youre not allowed to negotiate on behalf of the government. And so if there was trish if youre having a conversation, how is that a negotiation . Exactly. And also, here, i think that general flynn, if he is the star witness for Robert Mueller, he has a little bit of a credibility problem. He was fired from his position as, as National Security advisor for lying to Vice President pence. And his, his crime that he is now pled to, that he now a felon is for lying to the fbi. So how are we going to trust anything else that he says if the information that he has is so damaging . Trish very good point. It is a very good point. I agree. Trish david, they have to find more than just him. They cant pin everything on him, they will have to find accomplices so to speak. Again, were talking about something that i dont think is terribly unusual for someone days before assuming the presidency so day to say to the the logan act out there is 1799 federal law that hasnt been used yet. There are people that say it is unconstitutional. Whether or not they were acting, helping Foreign Policy i agree credibility is going to be an issue. If it is just flynn, just his word, that is problematic for muellers investigation but there may be emails. Weve seen this before in some other cases where these individuals are communicating via email. Trish all right. There will be lots of discovery going on im sure. David, troy, good to see you guys. Breaking, i want to get this story coming up nbc news launching investigation into whether or not there were previous concerns about former the today show anchor matt lauers inappropriate behavior. The network is worried that there may be other incidents that went underreported and they need to look into what actually kept employees from going to higherups and complaining. He was there roughly two decades. So could this have happened before . Who knew about it . Why didnt they do anything . Mr. Lauer was filed after a colleague filed a complaint that he allegedly assaulted her during the 2014 Winter Olympics in sochi. Nbc will begin training for sexual harrassment training for their employees as well. The dow down all over the place. We are down, what, 81. Not bad. I will take it. Better than 350, right . That fell on the news that Michael Flynn is making that plea today. Look what the selloff happened, what exactly happened there as that selloff broke in. You can see pretty significant. Were doing okay, and it is in part because investors think corporations are going to be getting a tax break, which is exactly what they need since, hey, our taxes are even higher than canadas right . I will tell you who would have liked a tax break. Who was all about tax reform, mr. Ronald reagan. And im thrilled to be right here at the Ronald Reagan president ial library in california in simi valley, where there is big conference happening with all the biggies in a sense. Talking about what our strategy should be as we move forward as a nation. Stay with me. Were live from simi valley from the Reagan Library after this. G. Fidelity, where smarter investors will always be. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. 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These are the only Medicare Supplement insurance plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Trish all right. This just breaking right now. The attorney for embattled congressman john conyers came out, we mentioned he was going to be having this press conference. Mr. Conyers not resigning. The lawyer came out and just blasted accusers, all kinds of victimblaming that theyre lying. The longestserving house member did postively nothing wrong. Joining me with reaction, ned ryun and gerri willis in our new york city studios. Gerri, you saw the feed as it was coming in. Tell us about it. You said it best here with the attorney saying this is absolutely not true, keep in mind that he is the dean of house of representatives. He is longestrunning congressman in the house and, remember, too, that he is actually settled allegations that, for 27,000 of your taxpayer money that he actually did have some kind of issue with a female staffer just this week on nbcs today show ironically enough, marion brown, former deputy staff manager on him, got on the air talked about her own experience with him which she detailed his actions, not just once, not just twice, but over and over and over again. You know, these stories, these unseemly stories that were hearing this week, last week, now for a month or so, really shocking. What is really important here, is that Congress Needs to come to terms with this very secretive way which they make payments for these sexual harrassment, sexual abuse cases. It is all under the table. Nobody knows anything about it. It comes directly out of the treasury. It is your taxpayer dollars being used for this. They need to reform this they have to get out in front. This fellow, let motel you, everybody is, his party chief, nancy pelosi suggesting he resign. He is not doing it. Trish took her a while. It took her a while but she finally came out and said yeah, she said resign. Ned, if he doesnt resign, between him and al franken and, you know, look im not saying this is partisan issue because its not, and clearly republicans had their struggles as well, but how hurtful if it is to the party if al franken and conyers try to maintain their posts . Oh i think it completely undercuts this supposed war on women that democrats have been accusing republicans of. It is very hard for them to make any of these arguments moving forward. Trish, i would actually reiterate what gerri just said. 17 milliondollar slush fund of taxpayer dollars being used to pay out these sexual harrassment claims. I think what is incumbent upon congress to do, release name of every member involved, do it as soon as possible. I think American People are due that before we get into a primary season in 2018 so we understand who is involved in this egregious behavior. I would say this, trish, payments made out of tabs payer dollars, the people on that list, i think it is incumbent upon them to pay back those sums of money out of their Campaign Funds and make taxpayers whole. I agree. Trish it is not fair. It is not right. You agree, gerri. It is our money. It is our money. At the end of the day we werent allowed the option whether we agreed to pay that or not. It happened behind closed doors without our knowledge. This is shocking. This is a scandal. If this isnt cleaned up it before the elections there will be heck to pay i think. Trish, i think it is starting to make the argument for me there should be term limits. I think you are seeing more and more of these members. Conyers has been in for decade. They are so far detached from the American People. They think they rule them, not serve them. Im starting to think term limits might not be a bad idea at all. You might be on to something, ned. Ned, gerri, youre absolutely right. It is not right they used our money. We should know exactly where our money went. Markets are rebounding i should point out a bit on the news that senator jeff flake is a yes on tax reform what do you know . They are coming around one by one. It looks increasingly like the republican Senate Tax Plan, dare i say it, you know i have been worried this would be another repeal and replace 2. 0. But it may be heading for passage. They may just pull this thing off. The markets will like it an awful lot. They talk about dow 25,000 if tax reform goes through. We have suddenly a Corporate Tax income rate of 20 . Wouldnt that be something. What will it mean for your portfolio. We get the intel. See you right here next. I can do more to lower my a1c. Because my body can still make its own insulin. And i take trulicity once a week to activate my body to release it, like its supposed to. Trulicity is not insulin. It comes in a onceweekly, truly easytouse pen. The pen where you dont have to see or handle a needle. And it works 24 7. Trulicity is a onceweekly injectable medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. It should not be the first medicine to treat diabetes, or for people with type 1 diabetes or diabetic ketoacidosis. Do not take trulicity if you have a personal or Family History of medullary thyroid cancer, if you have multiple endocrine neoplasia syndrome type 2, or if youre allergic to trulicity. Stop trulicity and call your doctor right away if you have a lump or swelling in your neck, severe stomach pain, or symptoms like itching, rash, or trouble breathing. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases your risk for low blood sugar. Common side effects include nausea, diarrhea, vomiting, decreased appetite, and indigestion. Some side effects can lead to dehydration, which may worsen kidney problems. To help lower my a1c i choose trulicity to activate my within. Ask your doctor if onceweekly trulicity is right for you. Trish all right. We have the market coming off session lows after Senate Leadership announced they just might actually get this done. They have got enough vote, everyone, to pass their tax reform bill. It could be happening. Joining me kaltbaum Capital Management ceo gary kaltbaum. I know you are troubled by some parts of this billsince im at reagan president ial library. We have to think about what reagan used to say. If you have most of this, maybe that is good thing. At least on corporate side this should be a food thing for the markets, good thing for jobs, good thing for overall u. S. Economy. Direct, sir . Im very jealous youre doing the show from. I have never been there. It is on bucket list. Enjoy, all i can tell you. Trish it is beautiful, thank you. It is so exciting because there is so much history here, that you can see and it is also gorgeous weather. Not to rub it in or anything, gary. Enjoy it. As far as this deal, anything that will lower taxes and get less money out of the government and into the hands of the economy is a good thing. As you stated, not everything is on my wishlist. But at least it gets us going a certain way. And they can always do more as they move forward. Im sure once they get with the house, there will be changes also. But on of the corporate side, look, the transports have been smoking in the last week or so, for a simple reason. They pay very high taxes. So that will cut their taxes. Maybe that helps them expand or pay higher dividend which is good for shareholders. Financials are really going to benefit from this because the republicans like these Financial Companies and they do right by them. So you can, theyre up 7 in the last few days. So i think this is good stuff. As i said yesterday, i would rather see more. But well take what we can get right now. Trish yeah, and maybe there is an opportunity to work on this, at least, that is what some folks like art laffer and Grover Norquist have been promising me, do more work on individual side down the road. Key is get the economy going again by bringing offshore money home. By lowering Corporate Taxes. By lowering the rate on small business. That should do a lot to stimulate and get us wage growth. Gary, we havent seen any wage growth in like 25 years. Look. That is a longterm problem that can be turned around. As i say all the time the trajectory what weve seen forever, higher mandates, fees, fines, and regulations government has a stranglehold on business last 10, 20 years, you get rid of that, look what happens. The driving force behind the country has nothing to do with washington, d. C. It has everything to do with the hardworking people in small and big business. If you get out of the way of these people, look out, i think there is a long way to go. I just remember a year ago, everybody saying there is no way we could ever do 3 gdp anymore. Were not hearing from them. Were already there. Trish were doing it. And we dont even have tax cuts, right . Thats correct. Trish no reason not to say four or 5 . Hey, who knows . Once you unleash the opportunity for prosperity the sky is the limit. I think it is fitting im here at Reagan Library, gary, this is probably the most significant tax reform we have seen inches is the days of its not reaganesque but its on the way there. The next thing that has to be done is size of government. The trajectory of the spending of government is an absolute blob. Last year of bill clinton, they spent 1. 8 trillion. Its going to be 4. 1 trillion and in three years 5. 1 trillion, that is too much money coming out of the economy. Thats got to change, and ive heard President Trump say the next move is on spending, welfare reform and entitlement reform. You get that done, and look out. We can get into the fives and we can really be off to the races. Liz i like the sound of that. Gary kaltbaum, good to see you. Thank you. Trish fox business is here all weekend. Special coverage, live coverage right here from the Reagan Defense forum, it starts tomorrow, im moderating a panel on how wall street and the financial world impacts our National Defense because you know wall street cares so much about quarterly earnings. Does that matter for the Defense Companies in terms of their research and what can we do to encourage them to do as much as possible to make us so safe. Joining us will be the secretary of the navy, the honorable rich spencer, along with the leaders and influential voices in this inner section of defense and finance, the ceo of the military Defense Company l 3 will be with me as well, and bret baier here too from fox news, and he has a very special interview with h. R. Mcmaster coming up. Special programming begins at 1 30 people eastern right here on fox business. Liz trish, im going to be on with bret to do what were about to guess on whats going to happen in the final hour. This may be one of the most crucial final hours of trade that we have seen this entire year. Confusion, uncertainty, volatility, rocking washington to wall street. Weve seen the dow claw back from 350 points of losses, but will traders and investors sell at the bell . Too worried about what the weekend news flow may bring . Former National Security adviser Michael Flynn pleading guilty to lying to the fbi. When that news broke this morning, it