Report is adopted without objection to motion to reconsider and its upon the table. [applause] david is he happy or what . The house just passing historic tax reform this afternoon and now, the fate of the tax bill moves on to the u. S. Senate where debate is underway and a vote is expected tonight if the bill passes the senate we are looking at the biggest tax overhaul in 30 years. We are covering it from d. C. To wall street and beyond. Lets go first to adam shapiro for the very latest from capitol hill. Adam the president s legislative agenda appears finally to be moving forward. Yes, at least on the tax promises and the cuts for tax relief for the middle class but here is where we stand right now the senate has passed the motion to proceed because lets show you the video. They received the bill from the house as you showed video of paul ryan with the fact the house had passed the tax reform bill, so the tax cuts and jobs about was delivered to the senate. They then had a vote on proceeding to get on to the bill were now in the debate. We could have 10 hours of debate or they could actually see back time the republicans get five hours, the democrats get five hours if they were to seed back time we would then go to the vote and this is expected to pass. Liz claman was pointing out earlier the simple majority would pass it all you need is 50 and its a done deal because john mccain will be in arizona and he wont be able to vote. Here is what paul ryan said about this historic moment. On january 1, americans are going to wake up with a new tax code. In february theyre going to see withholdings go down so they see bigger paychecks and april 15 will be the ] day they have to comply with the old bad system. This is a good day for america. And one last thing david and melissa as i throw it back to you. There had been question whether thad cochran would be here. He is here he was at the republican lunch earlier today and he did vote yes for the motion to proceed so again, simple majority 50 and it passes we expect that tonight. Back to you. David i almost dont want to say anything. I dont want to jinx it. Weve come so close were this far away from it adam shapiro thank you very much. Melissa . Melissa President Trump is inch ing closer to his first major legislative win of his presidency bringing the American People a huge tax cut. Lets go to blake burman on what the president is saying today. Blake . Hi there melissa the president just weighed in on twitter a little while ago. He congratulated leadership within the house, paul ryan, kevin mccarthy, kevin brady and on down the line as youll see there and all great House Republicans who voted in favor of cutting your taxes that from President Trump just a little while ago. Here at the white house, especially during the briefing, they had to answer Sarah Sanders did to two specific issues. That dominated the briefing as it related to taxes. The first the carried interest loophole. The president said his tax plan would get rid of it. His top economic aid said the tax plan would get rid of it and this tax plan does not. Sanders though maintained the overall bill benefits the middle class that was part of her response. Here was my exchange with her listen here. Does the white house believe that somebody who makes 83,000 saying somebody whose hundreds of millions potentially do you guys believe that is fair . We feel like this plan fully addresses helping the middle class, giving the majority of middle class americans more of their money back and thats what weve been focused on. Now the second issue was whether or not the president himself and his family would benefit from this tax plan. The president , a few weeks ago at the end of november, said that the tax plan would cost him a fortune. The white house repeatedly asked about that today and sanders hedge a bit. In some ways, particularly on the personal side, the president will likely take a big hit but on the business side he could benefit. Now once again melissa, they shutdown any possibility at least in the near future that the president would release his tax returns to once and for all show if he would benefit or not. Melissa . Melissa this is what were debating at this hour with historic tax changes, you know, going on here. Anyway interesting blake thank you so much. Here now is republican congressman steve pierce. As you heard and maybe you hear all day there is always things people can pick out and attack and say why didnt you do this, why didnt you do that. Overall how do you feel about the tax plan . I feel very strong. I think its going to raise wages for middle class americans , most of the companies have said they reinvest in new equipment, new hires, but also Immediate Tax withholdings are going to decrease next year, so middle class family in new mexico thats pretty well us will see about 2059 back out of their taxes a huge amount in new mexico. We live towards the bottom end of the economic spectrum so im excited about it. Melissa yeah, i mean this is where the rubber really meets the road because you have one side saying this is only going to benefit the wealthy and then the other side saying that the median family is going to pay 2000 fewer dollars in taxes next year and theyre going to see it in february. Its either one thing or the other and one party or the other is going to look like liars. I mean you feel good about this bet that youre on the right side . I do. And you just havent seen this kind of cohesion since ive been in congress 13 years, so i think theres a deep confidence that were doing what we promised the American People, were cutting your taxes, were also going to start bringing back manufacturing jobs when we lower that Corporate Tax rate. Thats where the manufacturing jobs come back for us Small Business tax cuts thats new mexico jobs. Again were making those small main street businesses more sound and steady. I just think people will be able to see that right off the bat. The further we get into this and people see that armageddon didnt happen, they see the sky didnt fall and i think the American People are going to love it. Melissa i dont know if it brings manufacturing jobs back. It certainly brings a lot of Companies Back companies in general could raise wages, they could lower prices, they could expand, they could invest in capital equipment. I mean with manufacturing sometimes thats about the cost of labor. What do you think . Well, the cost of labor has been equalizing so really weve seen pressure to move back since 2010, when Companies Really began to assess their move overseas, wages overseas have been increasing. Really the poverty rate has changed dramatically in the last 15 or 20 years. That means people around the world are making more, that income differential is equaliz ing out. I just think the manufacturing jobs are going to come back here they would rather work in our environment than the overseas environment. Melissa you hear ceos say all the time if you have a factory somewhere elsewhere labor is cheaper theres a certain amount of your product you have to throw away because theres a cost to having cheaper input means the output is just more mistakes happen. Let me ask you one knock is that they say the taxes are going to go back up on people except for the very wealthy in 10 years when this expires . Could you make these cuts permanent . Yes thats the thing about our opponents argument is that we need their votes. Need 60 votes in the senate. We already have the 51. If we had 60, eight or nine of the democrats to vote with us we could make them permanent so theyre the ones that keep it from being permanent and then they accuse us of raising taxes in 10 years. Thats the sort of argument were getting. I understand that the people of america have to understand it but ill guarantee once they see that money back in their paychecks, eight years nine years from now theres tremendous pressure to go ahead and stabilize this anadem tend it into the future. Melissa congressman steve pierce thank you. Thank you great talking to you. Melissa you too. David of course democrats could always raise it themselves if they want but chances are nobody will raise it on middle class meanwhile back to the markets. It sell on the news today the dow closing down 37 points after historic gains leading up to the tax bill. Lets go straight to Nicole Petallides on the floor. Nicole are traders waiting to see what the senate does tonight i mean theyre perfectly fine with a pullback of just 37 points after back to back days of more than 140 points for the dow. They got what they wanted, what they expected now they do like whats happening with the tax overhaul, so theyre feeling optimistic big picture. Weve seen the evidence of one record after another, so slight pullback of a tenth of 1 is as they say not a big deal and also noting cant just go up every single day. A little back is aokay so we watched the dow down 37, the s p dropped eight and we saw the nasdac down about 30 points. Tech titans theyve done great this year and those came under pressure in particular we definitely saw profit ticking there apple got a down grade and so overall you do see this group came under pressure with one of the lagging groups today, so a lot of folks in this group but you had a great year. Back to you. David Nicole Petallides, thank you very much. Lets bring in todays panel, james freeman, from the wall street journal theyre both fox news contributors. Gerri markets do seem to be kind of on hold right now waiting to see what happens tonight if the senate votes for this tax bill, which means its going to end up signed on the president s desk what happens to the markets tomorrow . I dont think that much actually were heading into the end of the week preholiday so i think its going to quiet down. It could be up or down keep in mind were up 6,000 points since last november. That is enough for about three years, so i would not be surprised that in january, if we pulled back some even if we had a thousand point drop that would be a whopping 4 at this point and corrections are normal and frankly, i hope it happens. Theres a lot of speculation out there right now that does not throw me for the long term so hopefully we get a little bit of backing and filling here. David james lets get into details of whats going to happen after this tax cut kicks in. You guys at the wall street journal have been critical in fact it doesnt do enough on the individual side but a lot on the corporate side. Some critics say look, thats not going to meltdown into the average americans pocket at all to which you say what . Well, the average americans pocket is being helped right away if you look even the liberals of the joint Tax Committee admit that every income bracket is getting a tax cut next year, so people will see that immediately. They will start seeing it in february with those paychecks, but look, i know the president likes to say everything is the biggest, the best, its huge, all of that. This really is the biggest corporate rate cut weve ever had and so going from the highest in the industrialized world to now finally being competitive, i think that cant help but have a huge impact on Companies Choosing to invest in the united states. David and gary some people like jamie diamond for example, says look if we have this extra cash were investing it in expansion. The way you expand a company you do buy equipment but you also hire more people and with unemployment down so low the only way youre going to be able to hire more people is by paying them more, no . Absolutely. Wages will be forced up thats the nature of the beast when youre at 4 unemployment. Keep in mind theres hiring, theres expanding, theres buybacks, theres going to be dividend increases. All are good things. All create wealth Going Forward whether its for stockholders or whether its for people working. For me though, i just think its a missed opportunity on the personal side. Youve got to remember something over the next 10 years, were going to send washington 45 trillion plus and this is only about 50 billion. David thanks a lot youre depressing me, gary. This is only about 50 billion a year in tax cut on the personal side. I think they could have done a lot better. David hold on a second let me give james a chance to get in here because steve forbes said if some folks in the Republican Party came out and said look this is just a down payment were going to do what reagan did. This is the first part of a two part process. The next tax plan that we have which could be coming out in a couple of years will do more on the individual side. Do you think its possible to say that now . I think certainly theyre not done and especially if this works as we expect it will and look, were heading it looks like were about to wrap up the Third Straight quarter more than 3 growth. Weve been talking about this, this hasnt happened in over a decade. If we get to that new level of growth that i think we will, then theyre going to have a lot of momentum to do a 2019 cut as well. David looks like were close to it already. Gary and james good to see you friends thank you very much. Appreciate it. Melissa another cut look at us. Were already talking about the next cut. Why not. David when it comes to tax cuts were a little greedy. Melissa absolutely can the senate take this historic tax reform over the finish line . The bill is now being debated on the senate floor. Bill cassidy of louisiana joins us later in the hour with more on where things stand right now. David one lawmaker now demanding an investigation into allegations of the Obama Administration undermined a task force aimed at cracking down on hezbollahs Drug Trafficking in the u. S. To secure the Iran Nuclear Deal. Retired Lieutenant Colonel oliver north sounding off on that. Melissa fbi director Andrew Mccabe testifying behind closed dooring the on capitol hill, those about antitrump texts between fbi agent peter strzok and lawyer fueling accusations bias at the agency. Florida congressman ron de and testify on the House Judiciary Committee. Now its time for subpoenas and the chairman of the committee is going to subpoena lisa page and subpoena bruce ohr and peter strzok and well also get to Andrew Mccabe as well. We need those people to come in, be deposed and put them on the same stand. No matter how the markets change. At t. Rowe price. Our disciplined approach remains. Global markets may be uncertain. But you can feel confident in our investment experience around the world. Call us or your advisor. T. Rowe price. Invest with confidence. I used to have more hair. I used to have more color. And. I used to have cancer. I beat it. I did. Not alone. I used to have no idea what the American Cancer Society did. Research . Yeah. But also free rides to chemo and free lodging near hospitals. I used to maybe give a little. Then i got so much back. I used to have cancer. Please give at cancer. Org. Wifiso if you cant live without it. T it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. David mccabe under fire. Deputy fbi director Andrew Mccabe testifying in front of the House Intel Committee as part of a growing investigation of the investigators and whether or not apt itrump biases at justice and the fbi crossed that line into a concerted effort to subvert the election. This after Senate Judiciary chairman Chuck Grassley called for mccabe to be removed. Joining me now is ron desantis, florida congressman and House Judiciary Committee member. Good to have you here congressman. Andrew mccabe. It does appear he was part of this group in justice in the fbi you have mccabe, you have peter strzok, you have bruce ohr whose wife was working with fusion and he was meeting with fusion. They were all kind of working together to keep trump out of the white house. Is it too much to say that . Well you have this text message which is really a bombshell from peter strzok recounting a meeting that they have and Andrew Mccabe during the election with lisa page who was strzoks friend. David let me just read that so that our viewers can follow along to see where youre going. Im sure a lot have already seen this but this is the peter strzok email if we can put it up on the screen. Hes writing i want to believe the path you threw out for consideration in andys office and we assume thats andy mccabe , that theres no way he, donald trump, gets elected but im afraid we cant take that risk. Its like an insurance policy in the unlikely event you die before youre 40. Now theres been a lot of speculation about what that insurance policy was and many people think since all these guys were working on the trump dossier that that was the insurance policy. What do you think . Well here is what i know. Weve asked multiple officials in both departments, did the fbi pay for the dossier. Oh, we cant answer that question. Now, if you didnt pay for the dossier wouldnt you just say of course we didnt pay for the dossier. Weve asked did you use any of the information gleaned from the dossier to secure surveillance over anybody associated with donald trump . Oh, we cant talk about that. Well if you didnt use the dossier youd say of course why would we use a Political Opposition Research document for that but they wont answer those questions. David but congressman let me stop you right there. Why isnt it possible for the president himself to release, cant the president declassify a lot of this . He could. I mean, i think that some of his advisors are saying because this pertains to the special counsel investigation if he does that, then he will get criticized as trying to shape that and i think they view this as he should just stay out of it. They dont have the goods on collusion and let that come to its end so i understand that but here is the thing. Theres no reason why Rod Rosenstein or Christopher Ray cant answer those questions for the congress. Patience is wearing thin. There will be subpoenas if need be and there will be contempt citations if need be. David andy money cake in addition to the stuff he did in regard to the election he was also promoting his wife who was running for the senate back in 2015 and he used personal emails in order to promote his wife. Some people say thats a violation of the hatch act. What do you think . You know, i dont know. Id have to look at some of the law but i would say this. She was ribbing in a lot of money from terry mccallough, whose basically a brother of the clintons almost. Hes been with them his whole career and yet mccain was intimately involved in the hillary email investigation. He recuses himself six days before the election after almost all the key decisions had already been made and so it seem s like any time theres a politically charged case and mccabe is involved that the questionable behavior always goes in one direction. David we had senator grassley here yesterday and he has said that he thinks mccabe should go. He also though said stipulated that the president should not be the person to fire him. What do you think . Id like to see somebody else as the Deputy Director of the fbi. I think it was the right decision to move comey out and when you put in Christopher Ray thats the natural time to make a change in the deputy as well, so i would advice ray to make that change and obviously the president has the authority to do it. I understand why theyre saying because of the investigation they dont want him to do it but bottom line is having a fresh slate i think would be good for the American People. David but you would be against the president firing money cake . I would not be against it but i understand why people say let that be done by ray or somewhere within the justice department, rather than be a president ial decision, but wouldnt it be good to have somebody that doesnt have all these questions swirling around them and this important Law Enforcement agency david well there are a lot of questions about that line, you can always have your own personal opinions everybody has opinions but whether you use the power of your office the power of the government to subvert an election that is crossing a line we dont want any Government Official to cross. Congressman thank you very much for being here appreciate it. Thank you. Melissa breaking earnings right now fedex reporting Second Quarter results shares of the company up more than 2 afterhours, following a beat in both earnings and revenue fedex citing a stronger Global Economy for improved financial results. There you go. David wait until the holidays are over. Melissa yeah right. David meanwhile the white house pointing the finger at the attacker behind a massive cyber attack that hit countries all over the world. Well tell you whose behind it. Melissa plus more details surfacing over yesterdays deadly Train Derailment in Washington State. Were bringing you a live update from the scene thats next. Were coming around the corner to take the bridge over i 5 and we went on the ground. Okay, is everybody okay . Im still figuring that out. Weve got cars everywhere and down on to the highway. Melissa former green Party President ial candidate jill stein says he is cooperating with the senates investigation whether she colluded with russia duke the 2016 election. She said she is handing over documents to the Intelligence Committee showing she had dinner with Vladmir Putin in 2015. David bet the russians are happy about that. White House Homeland Security advisor tom boss earth blaming north korea for last mays global cyberattack which costs billions of dollars, affecting hundreds of thousand of computers and spanning across 150 countries. Victims received ransom demand for their locked information but saw no relief once they paid the attackers. Well take a look at the senate by the way. Which is going to be getting lets take a live look what is happening with the senate. Melissa were so excited about it. Cant get enough of it. Were looking at orrin hatch making arguments of passing the tax bill just passed by the house. There are five hours of debate by republicans. Five hours of debate by democrats. Republicans may thing that number, theyre allowed five hours, probably wont use all of it. Likely the democrats will. This give as democrats a chance to five hours melissa complaining. David complaining about the bill. It just favors the rich an doesnt favor the middle class at all, which of course republicans dispute rather vehemently. Well listening, lets listen in for a second to orrin hatch. The finance committee in spring of last year, at that hearing he stated that 37 of Stock Ownership was held in Retirement Plan accounts. 37 . That was largest share of above overall Stock Ownership. That statistics syncs up with the distribution tables put out by the nonpartisan david what senator hatch is referring to are the complaints by democrats that the Corporate Tax cuts will only favor a few americans who hold stocks when in fact, millions and, literally hundreds of millions of americans do have it in one form or another. Melissa yes. David as part of their retirement packages, et cetera. Melissa transportation investigators say they are planning to talk to the engineer of the amtrak train that derailed yesterday morning in Washington State killing at least three people. Dan springer is live in dupont, washington, and dan, what else can you tell us at this hour . Well, melissa, the National Transportation safety board investigators arrived on scene late yesterday. The very first thing they did, they took the data event, the. The black box off the machinery, the rather engine. Stunningly confirmed reports that train was in fact going 80 miles an hour, in what is supposed to be a 30 mileanhour zone. Looking at the track, angle of the curve as they cross over interstate 5, it is obviously that speed was a major factor. The question seems to be, was it the only factor in why that train didnt slow down in the curve. We got a much closer look at the mangled train cars as crews worked through the night to remove them. The ntsb expects to be here at least a week. We dont know at this point. I think it is too early to tell. We want to carefully look attract, signals and human performance. So well be, we hope, interviewing the crew and to find out if they have more information that can help us figure this out. Reporter officials did not say if the positive train control system which can automatically slow down trains could have prevented this tragedy. They certainly think it might have though. Stories coming from survivors and Good Samaritans that helped remarkable. Firstresponders used whatever they could to get inside of the train cars. Three people were killed. 70 sent to local hospitals. We dont know all conditions. Some are critical. And, certainly everyone who survived is grateful. After getting myself upright, my legs unfolded, i look down and i shook one and i shook it back. I said, are you all right . I think so. There was this body lying there. He hardly had any clothes on. The clothes had been ripped off of him. He was obviously dead. Reporter all lanes of interstate five continue to be closed. Were told they may be able to reopen by thursday night. Melissa. Melissa wow. Dan springer thank you. David then there is this. Letting hezbollah off the hook. Details on a bombshell claim that the Obama Administration blocked a crackdown on the iranianbacked terror group in order to get the Iran Nuclear Deal through. Melissa plus making good on his promises, President Trump closing in on a tax reform victory as we await a senate vote tonight. Senator bill cassidy, Senate Finance committee member, where the bill stands on the senate floor. That is next. We give you research and datavisualization tools to help identify potential opportunities. So, you can do it this way. Or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just 4. 95 per online u. S. Equity trade. Fidelity. Open an account today. Open an account today. Whcold sore. Et you . Grab lunch . Cold sore. When a cold sore takes over, campho pheniques topical anesthetic plus antimicrobial action soothes pain fast. Whats for dinner . Meat loaf. Camphophenique on, cold sore pain gone. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. David on the cusp of a major legislative victory. House republicans crossing the finish line on tax reform, pushing the vote to the senate floor. Do Senate Republicans have enough support to pass the legislation . Here is republican senator bill cassidy, member of the finance committee. Senator cassidy Vice President delayed a trip overseas, in order to be there tonight in case there is a tie and he has to pass the vote to push it over the finish line for republicans. Will he be needed . He will not be needed. I think he is there to celebrate. He will celebrate because were cutting taxes force middle income working families. Well set the stage for more nick growth. We do many other good things. Well be celebrating. David that is what you say. Not surprising that people like nancy pelosi Say Something else. Let me play a sound bite from nancy pelosi, get your reaction. This is the worst bill to ever come to the floor of the house. With stiff competition for some of the things they have tried to do. The worst bill in history. David senator, your response . Worst bill in history. I have got to laugh. It is worst bill for her, because she is afraid that the American People will discover in their paychecks early next year that republicans succeeded in cutting their taxes which we did. And all of sudden everything she has been saying will be proven a lie. The fact is, that American People will see in their paychecks early next year, lower with holding. They will understand really it is working for them. She didnt particularly care for that. Im very pleased. David it is impossible to please everybody. Im glad your pleased. Some people think the top rate should have come down further and some people are displeased with this or that and im talking about just the republicans now. Is this conceivable, i brought this up yesterday with other senators and congressman, this could be the down payment, if you will, on further tax reform we saw in the 1980 as, when reagan had one in 81 and quicked in in 83 and another in 86, what do you think . There certainly could be modifications Going Forward. There might be something a loosened if you will, on the other hand the framework is sound. We cut taxes for middle income families and working families. We set the stage for economic growth, so they have more money in the paycheck not just because taxes are lower, but businesses are competing for services paying more in wages and benefits. Those are all good things. If we have to modify Going Forward. It is modification on something very good. David top marginal rate as you well know, both with jfk and with ronald reagan, top marginal rate came down quite a bit. It hasnt in this bill. It has come down a little bit but not a lot. Ronald reagan had it down to 28 by the time he left office, do you think it could get that low or should it . I do not think that his marginal rate went down that low. I cant say that for sure but suffice it to say that the president was committed to a middle class tax cut and making sure that our companies are not incented to move overseas. So weve accomplished that. As regards those at the upper income, their rates have come down some but also, the lower rates, for example, the top marginal rate kicks in at a higher number. So, there is going to be a portion of their base which is taxed at lower amount, so your net margin is lower than what it seems at the very top. Kind of a complicated response, but we think even those upper middle income families were able to do something good for. David i think i followed you. It did go down to 28 in the second tranche of the reagan tax cuts. That is the eight at this bill. 86 bill. Maybe it is a sumner but looking at details of the plan that first announced it would fit on postcard that is it out of the window, isnt it . No, david. 95 of families will not need to itemize. By doubling the standard deduction, 95 dont have to keep up with charitable contributions. They dont have to figure out what the pair of underwear i gave the Salvation Army i gave to my taxes. They dont need to. Doubling standard deduction means they dont have to. David senator, let me put a finer point on this. 95 of federal taxpayers will be able to put their tax returns on a single sheet of paper . I cant tell you what the form is going to look like. I know they wont need to itemize. Typically the itemization is most complicated that eliminates that entirely. David senator bill cassidy, good luck tonight. Well be watching. Tax meeting behind closed doors. Herm cain spoke with Trump Administration on tax reform. Well ask him what was discussed. Thats next. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. You know, at Td Ameritrade, we can walk you through your options trades step by step until youre comfortable. I could be up for that. Thats taking options trading from wall st. To main st. Hey guys, wanna play some pool . Eh, im not really a pool guy. Whats the hesitation . Its just complicated. Stepbystep options trading support from Td Ameritrade the moment a fish is pulled out from the water, its a race against time. And keeping it in the right conditions is the best way to get that fish to your plate safely. Bacteria can multiply to high enough levels that even cooking it will not destroy all of them. Its definitely the most important thing in my business. How fresh is the fish . Where it comes from . How it gets here. The more i know, the better. Sometimes the product arrives and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. We took our world Class Network and we developed devices to track environmental conditions. This device allows people to understand whats happening not only with the location of that asset, but also if its too hot, if its too cold, if its been dropped. Its completely unique. We ship fish, beef, poultry, vaccines, insulin. This is about monitoring and protecting everything we ship. I catch all this amazing, beautiful fish and then once its out of my hands, i have no control over what happens to it. If you have a sensor that can keep track of your product, it keeps everybody kind of honest that way. Its really all about the network. You are looking at trillions of transactions a year. Not too Many Companies in the world can even scale to that type of volume. Who knew a tiny sensor could help keep the food chain safe . Food has to be fresh. Its that simple. Melissa businesses could be receiving the greatest Christmas Gift of all, a tax cut. A businessman in the closeddoor meeting with treasury secretary Steve Mnuchin and Economic Advisor gary cohn and was told some lastminute tax details. Here is now herman cain, former president ial candidate, former godfathers pizza ceo. The he is also a fox news contributor. Sir, welcome. What did you hear . What is the secret. We wont tell anyone. Just between you and me what did you hear . You will only tell a few Million People but im so excited about it, i dont mindshareing it. Number one, most of the big provisions in the tax plan survived the conference committee. Individual tax rates go down, as you indicated earlier. Five out of seven of the brackets, the rates went down. The expensing of capital equipment, that, for the first year, that was retained. And also, the fact that businesses were able to take the top corporate rate from 35, to 21 , that survived. But for the Small Businesses, they were able to keep in the plan 20 deduction for profits if the subchapter s or pass throughbusiness made profits but here is two things i learned, melissa, that i did not know about and never heard about. Melissa oh, good. They had something called an ioa, investments in opportunities act. This was a provision that senator tim scott and others worked hard to put in there which would provide some advantage to economicallydepressed areas with the help and the identification by the government. I did not even know about that provision. All of the people in the audience were glad to hear about it. Because melissa that sounds like picking favorites and loopholes and like special interests and all those things that nobody likes. Might sound that way. Melissa okay. But need to do Something Special for those economicallydepressed areas that cant get off the bottom. And that is what this is supposed to do. And i think that everybody in the room applauded that. But heres one other big point, melissa. That a lot of people have not heard. We only need a gdp growth of 2. 4 in order for this these tax cuts to not increase the national debt. You dont hear about that you hear a lot of people screaming about it is going to explode the debt. Melissa that it will balloon the deficit. Yes. But thats a lie. Now, remember, the couple of quarters we had successive quarters of 3 s plus, so that was another big fact that i believe is it real huge in terms of making this tax plan a success, which i am very excited about. Melissa no, that is really interesting because with all the moving parts ahead of time, hard to quantify exactly where growth is break even in terms of revenue and in terms where the debt is right now. When we come back, they have to cut some spending, right, herman . That is phase two cutting the spending, not contingent upon this tax plan. That is why they use the reconciliation process that they use. Melissa yeah. They indicated that they would only have a plan that would cut a certain amount of taxes, 1. 5 trillion. Right. We have to run. 2. 4 , growth, that will be a piece of cake, right, with this, 2. 4 growth . Piece of cake. Melissa piece of cake. Its a piece of cake. That is why im very optimistic it will not add to the national debt. Melissa herman, i wish we had more time. Thank you very much. See you next time. David there you go. Slice of pizza. That is mr. Godfathers pizza, for goodness sakes. Soft on terror. A scathing report that the Obama Administration may have failed to prosecute a global menace all in interests of the passing its Iranian Nuclear deal. Lt. Colonel oliver north, the fallout from this story. Is this a phone . Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. David fallout now from the bringserring allegations in this weeks politico report, entitled, the secret backstory how obama left hezbollah off the hook. The piece claims that the obama derailed a crackdown on a billion dollar drug and gunrunning operation by the iranianbacked hezbollah, in an effort to pass the Iran Nuclear Deal. Gop lawmakers are calling for an investigation while members of Obama Administration, specifically those a part of the deal say the article is false. Take a listen. It is incendiary, it is worthy of investigation across several difficult committees across congress and if its true, its a pretty damning indictment of obamas search for a legacy and his willingness to do anything to get one. The politico story, this narrative in it is just false, and there is no evidence in this story to back up their allegations. David here now to react is oliver north, retired Lieutenant Colonel and host of war stories on fox news. Were pleased to have it on fox business from time to time. Colonel, you read the report. Do you believe it . Yes. In fact, forgive me to take on one of our fox news contributors if she hasnt seen evidence, they are not looking at what actually happened. For benefit of our viewers, quickly go through this, this is about an entity or activity called project casandra. One of many multiagency operations conducted by the dea, cia, treasury, dod, state, and u. S. Allies after 9 11 to counter what the dea accurately calls a narcoterror next sis. This is important because the dea is confirming since the 1980 as, every major terror organizations uses drug money to fund operations. Cassandra targeted hezbollah, the organization responsible for blowing up the Marine Barracks in away route in 1983, kidnapping american hostages, murdering american hostages, blowing up the Beirut Embassy twice and attacking israel in 2006. Delivering to the enemies, the exploding penetrator ieds, hezbollah was allowed to send in to kill americans and soldiers and marines in places like afghanistan and iraq. Hezbollah is the number one exporter of narcoterrorism today. That is what this is all about, the fact is, this task force that you talked about, they had hezbollah dead to rights. They had apparently all the information they needed for serious indictments. But somebody told them to step down, and the question is who it was, whether it came from the top from president obama, who wanted to play nice with the iranians, thinking that that would change them from their terrorist ways, or the cia director, john brennan. He features prominently in this article because he believed that hezbollah itself could be turned into nice guys if you treated them right, and that he himself, the cia director, may have ordered these other agencies to stand down . Well, actually, and unfortunately i know a little bit too much about this i dont want to talk about the article. Let me tell you what happens. The department of justice allows those task forces to be put together and the dea has been magnificent being able to do this they targeted this particular activity called hezbollah because they knew it was involved not just in lebanon, which it was created to do, it was created by none other than than ayatollah khomeni in 1982. Hezbollah was given the mandate to put together these enormous drug operations to take funding from it, do you will at things that the lebanese government couldnt do and do them in lebanon and send money back to tehran and they did. The bottom line of it is, when you have got multiagency activities like this, any one of those can file a complaint of some kind or another. It eventually has to go back to the department of justice to shut it down. That is exactly what happened. David colonel, i have to move you for war, we have got literally 20 seconds. Is it possible to reverse course, pick up where the investigation was dropped by the Obama Administration an arrest these people and shut down this drug, gundealing operation . The fact is some have been arrested. Some are held by our allies. Some are being held in other places but it is very difficult to restring the needle through all those Different Things years after they shut it down in 2014. David colonel oliver north, great to see you, sir. Have a happy holiday. Merry christmas to you. Merry christmas. Melissa new breaking details from capitol hill as the Senate Continues to debate were hearing that the house will have to revote on the bill tomorrow . David what . Melissa more after the break. Some advisers have hidden and layered fees. Fisher investments never does. And while some advisers are happy to earn commissions from you whether you do well or not, Fisher Investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other money managers. Fisher investments. Clearly better money management. [vo] progress is an unstoppable force. The season of audi sales event is here. Audi will cover your first months lease payment on select models during the season of audi sales event. Melissa breaking news on the gop tax vote. It is now looking like the house may have to revote on the tax bill tomorrow. This is coming after Senate Democrats said some provision notice legislation provided Senate Budget rules and will now need to be removed. David changing the senate bill from what the house voted on earlier will now force the house to revote tomorrow on the new bill before it goes to the president s desk. These are important provisions that have to do what you can deduct in earls of it educational expenses. So it aint for nothing. It appears if the Senate Approves it tonight, it will be vote again and pass again tomorrow in the house. Melissa dragging their heels. There you go. Risk and reward starts right now. The yeas are 227, the nays are 203. The conference report is adopted. Without objection the motion to reconsider is laid upon the table this is one of the most important pieces of legislation that congress has passed in decades to help the american worker, to help grow the american economy. This is profound change. This is change that is going to be put our country on the right path. For all those millions of american and women living in america paycheck to paycheck struggling to get ahead, help isthe way. For all the businesses tied with one hand behind their back in this Global Economy, having a hard time to