Transcripts For FBC Cavuto Coast To Coast 20170619

Ranks about whether republicans can get their act together to get that tax cut done before the year is out. Let alone we have what, seven or eight legislative days left before the july 4th he recess. Theyre out the entire month of august. Tomorrow is where speaker ryan is supposed to outline where they all stand. He is talking about getting import tax, border adjustment tax what they like to call it. He and only couple Republican Leaders are only ones interest in it. President trump does not like the idea and a lot of conservatives in house and senate are not keen on the idea. He keeps to pushing it. That will generate additional revenue and pay for other tax cuts theyre still talking about. Anything can and usually will happen. That is scheduled for tomorrow. Today it is back and forth as to whether this ever comes to pass at all. At least this year. Charlie gasparino, former bush 43 spokesperson, Mercedes Schlapp and dineen borelli. Do you get a sense this whole tax cut thing scrapple wring . I say that based on than the way republicans are positioning it crumbling . We have idea on border tax that not everyone agrees on. How far they should go to make it a big tax cut or one thats paid for. They havent ironed out those, im not saying there are not significant details but big details they have not ironed out . Youre right. There are too many idealogical ideas within the republican party. You have mike lees on this end. Susan collins on other end of the spectrum. Charles Susan Collins says pay for tax cuts. Mike lee cuts. That is what i meant by that excuse me. When you look at that theyre not jelling, theyre not coming together to even hash things out. Paul ryan, for example, he is hard, pushing hard for this border tax. Republicans dont like it. The Trump Administration doesnt like it. Steven mnuchin even said ia dead issue. Neil why does ryan keep pushing it. He keeps thinking he is head of budget committee. Neil he is speaker of the house i talk to big investors they say there is not going to be a tax cut this year. Neil not at all . We can get into why. A few stocks are powering including amazon and talk about buying mergers and upping that bid which is net positive. When i talk to people on the hill, staffers for republicans they dont think it is going to happen either. Why doesnt anybody think it is going to happen . You can blame ryan all you want i know i will get a lot of nasty tweets but too bad. This is President Trumps problem. He has almost no stroke out there. He is not leading. He is not going to paul ryan and various constituencies trying to cobble something together. What he is obsessed about now is crooked hillary and Robert Mueller and everything but this legislative agenda. Neil you think that is distracting him . White house is not a fan of the border tax. Mnuchin said that. Do you think that is, is this ryans spiting that or what . Listen, if you have a president that leads and commands respect, ryan gets in line. Here is one thing we should talk about. How did reagan actually get his tax cuts through . How did he do that . How did he cajole, how did he work, not distracted by other stuff . Obviously this russian thing, reagan didnt have to worry about the russian thing. The press, you could make the case that the media is much more viciously against this president who most Mainstream Media dont believe he won the election, doesnt deserve it, i get that there was overriding agenda reagan pushed through. There was opposition said he was a kook. This president is not leading. I might have to push back on this. Neil go ahead, mercedes. Im one living this, navigating deadly waters of the swamp, what youre seeing here, between secretary mnuchin, very much in contact with the leaders in congress and pushing through a tax reform. That President Trump neil the question, mercedes, why keep pushing, that is the house leadership . This notion of an import tax. They made it clear they dont like it . Youre right. Let me tell you something, President Trump in this sense needs to make sure the boarded a justment tax is not in there. Can not allow for rerun of ryan killing obamacare part one. Neil this press conference youre planning tomorrow, dont do it . I think theyre going to keep having these negotiations. I think youre going to see the border adjustment tax being taken out of there. So i think this is too soon that the president is not leading on this this is process. He is tweeting, mercedes he is tweeting about stupid stuff. Of course. There is certain tweets he, let me tell you, being in the white house where there has been an investigation, it does overshadow a lot of the work that youre trying to do. Right. But with that being said there are the priorities in line which is right now, Senate Majority Mitch Mcconnell is trying to see if they can push together the vote before july 4th recess on obamacare. You all know obama care, needs to repeal or replace obamacare needs to pass for better baseline for tax reform. Think about what youre saying, mercedes. Going through comprehensive tax reform or piecemeal it out . Thats what we need to if you have a president , that basically sits there and, basically gets the house to agree to a Health Care Reform bill, calls in the Senate Leadership which we were first to report, my producer brian schwartz, first to do it, you know that bill we got passed through the house i approved, i said i loved it is brutal. What did he call it . Mean. Neil mean. How is that leading. That is dead honesty. That is not leading. Neil go ahead, dineen. The president has a great opportunity today. He is meeting with leaders of Silicon Valley. He needs to lobby them to push on their representatives, to push on congress for tax cuts. I mean look at apple neil they wont do anything for him. They dont do anything for him. They dont even believe in tax cuts. Tim cook, i was reading they will not bring back their money from overseas, which is 250 billion over that amount because of being hammered with taxes. This is promise made not too long ago. This part, they hate trump. This is the most liberal group of corporate executives. I thought wall street guys were bad, these guys are off the charts left. But they all agree, theyre selfish greedy, sobs, they all agree on lower Corporate Taxes f trump were smart he would focus on the Corporate Tax cut. That is pushing the markets. You can get some of those guys neil someone like elon musk who is not there, it hurts him, right . Yeah. Tim cook is for a low Corporate Tax. He would repatriate. I think neil repatriation issue would be dramatically, tax holiday. Bringing it down to 15 is pretty big. Neil mercedes, one thing comes up in this discussion back and forth whether the administration has time to do all that it wants to do, let alone what speaker ryan will outline tomorrow. They have seven or eight legislative days before the july 4th he recess. Theyre off all of august. Say these thing dont happen this year. Give benefit of the doubt they happen next year. That is problematic with a midterm election. I think it is looking dicier. The market gains notwithstanding what do you think . I agree. Look it is a ambitious legislative agenda. There is a sense, why you have some of these senators saying maybe we should extend the august recess. Leadership is taking a neil that will never happen. Never happen. Never happen. You might see one extra week. Neil they would sooner lose their job than work during that are job. The month of august when theyre fundraising. There is a, goes back to dineens point about the factions, where there needs to come to this compromise. I do think that their political time is so limited, and so neil mercedes i go back to Ronald Reagan, that charles raised here, the notion Ronald Reagan made it very, very clear because republicans getting antsy because of editorial attacks in papers like wall street journal saying that tax cuts were too big, he gathered republicans i want these. They will not deduct for upper income. Everyone get as tax cut. It will be substantial, you are with me or against me. It was very clear moment where everyone knew what the gipper wanted and he was emboldened oddly enough after the assassination attempt. He rode that for all its worth and got his way and that is something we need to see from the president of the United States. I think that is something we need to see from the president of the United States. I do think, you have to remember, took reagan over a year to get that passed. Neil youre absolutely right. Youre absolutely right. When youre dealing with personalities of congress, individual senators neil mercedes they have the run of the table. They do. Neil dineen, with the house, senate, white house, they dont get it, there might be very good byzantine explanations why they cant deliver this yet, but if they dont, theyre finished. It is done. It is bad. A lot of politicians are only concerned about getting elected. In some cases theyre not doing what their constituents put them in office so there is problem. Neil why are we up by the way . A few stocks are powering this market. Were talking about a apple and amazon is beg reason. Netnet, investors will tell you neil they think it will happen. They think what we have now is better than alternative which is socialism under hillary clinton. That said,. Neil thats true. If we dont get the legislative agenda pushed through, there will be a pullback. I will say one thing, mercedes talked about the personalities of congress. How about the personality of the president. You have had it out for the president for a long time. Neil youre a hater. Im a it hear. Why isnt he using, by the way, had it out, that is Something Like you hear from a troll on twitter. Are you calling me a troll . That is what trolls say. Come on, seriously. Trolls on twitter say i have it out for the president. Be real clear here. He has bully pulpit. Neil you hate him. I love him. Neil well see what happens there, we want to keep you uptodate on another terror incident in london, the fourth in less than three months. But it is how the Prime Ministers responding that is not exactly inspiring confidence. Hell explain. I will replay her words. This is kind of stuff you probably dont want to heart if you want reassures from the top, after this. Will you be ready when the moment turns romantic . Cialis for daily use treats ed and the urinary symptoms of bph. Tell your doctor about your medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. Ask your doctor about cialis. And get medical help right away. Buttrust angies list to help. , [ barks ] visit angieslist. Com today. Here comes the fun with seadoo starting at just 5,299 and up to 500 rebate visit seadoo. Com today neil all right. Edthis could have been awful. Driver slams into a police car, that 31yearold driver is dead. Fox confirmed there was a gas tank in that car. So obviously his intentions were to do something pretty catastrophic. This of course, a van separately plowed into pedestrians outside after mosque in london yesterday. One dead. 10 injured. One suspect charged with terror attack. Fourth in britain since march. Former green beret, ben collins, constant repetition of these attacks, that they go on pretty much without abandon. What do you make of all of this . Well, neil, certainly i think it is the first thing i would say, the most important thing, this attack against muslims coming out of a mosque is a absolute victory for isis, i say that, isis put forward a strategy, in fact, it was zarqawi back in 2004 that sent bin laden a note he saying strategy for him was to target specifically shia muslims and to engage them and kill them and kick off of a backlash against the sunni population. So what isis has been trying to do is to create a backlash against the sunni societies within the western societies, for them to look at this, only one of two choices. Either join isis or be defeated and, hostility and persecuted by the government. So this individual by attacking these muslims coming out of a mosque has done exactly what isis has been trying to accomplish for years. Neil in this case garner sympathy, right, in the process . Correct. The sad irony he used an isis, you know, an isis technique in terms of using vehicles to kill people. So, you know, my concern here is that, by, you know, that hostility that is going to be engaged, obviously the media, through the media, through these attacks, there is so much anger. Here is an individual that acted on it. It is playing right into isis hands, and Everybody Needs to take a breath, and come up with serious, feasible security measures that can be put in place to try to avoid these situations. Neil ben, this maybe goes slightly outside of your purview, i was reading something in travel section of the newspaper, might have been the new york times, i dont recall, they say number of bookings to europe on part of americans have gone down dramatically so, where people seem to think that it is open season on citizens. That might be a stretch, but whether it is london, whether it is paris, whether it is brussels, this feeling that europe is particularly vulnerable and primed as soft targets that have become, well increasingly commonplace. What do you tell folks in this country if theyre entertaining a trip abroad or particularly to europe where a lot of this stuff has been going down and theyre nervous . Well, neil, look, i think if you, certainly i tell, even within my own company, individuals that are going over to europe that they have to constantly be aware. So, you know, number one, they should always have a Contact Information of either an embassy or consulate. They should do their homework and read up around the location, but really comes down whether it is europe or it is here, people need to be aware. They need to pull themselves out of their phone. You go on to the new york subway or walking down the streets, people are completely engrossed in their phones. Theyre tuning out the rest of the world, and thats dangerous. People need to say as we do in the military, keep their head on a swivel. Your gut tells you see something looks out of place, doesnt look right, to be afraid to Say Something to the nearest law authority. People evaluating whether or not to go over to europe, i think there is some just concern over some of those areas. Certainly if you look at the last one thatcured in london, it was very high, two very large tourist centers. Certainly the the Westminster Bridge and the park. If its a choice where can i go on vacation, people may look to where there is not been any tourist attack. We continue to send individuals from my company over to europe, specifically london. People need to start paying attention i think a lot more than they have. Neil your most practical bit of advice, you always have a lot of it, is the headphones and music getting so distracted youre not aware of what is going on right around you. Ben collins, good seeing you again. Thanks, neil, you too. Neil wasnt that long the british Prime Minister was talking about britains saying enough is enough. Unfortunately with her constant responses to that degree including this latest one, she did not exactly encourage much confidence. This is what i mean of the take a look. This morning our country was news of another terrorist attack on the streets of our capital city. The second this month and every bit as sickeng as those which have come befor neil all right. So former Uk Parliament member john brown, and john, that is the kind of thing that does little to inspire confidence or set fragile nerves at ease. Maybe this just isnt her strength but when she keeps coming before the british people to calm then down and show how vigilant she will be an enough is enough, it keeps happening, she is not making her case, is she . Well, not really i suppose because maybe a lot of that is secret. If anyone knew the answer to terrorism and how to expose it from the camouflage of working within the population they would be a legend throughout the western world. So it is a very difficult problem, particularly now that explosives and vehicles have become so easy to rent and get ahole of and to deploy. But as your last speaker ben, said, the real accent should be on people being much more aware. They have got to contribute as well as the government has. The response in london and in other things in paris and britain have been pretty good by the forces of law and order. But it is a very difficult problem. Neil you know what i think we havent had a chance to talk about recent British Elections and how terror might have factored in there, that there is rally around the flag and around the leader, it did not happen, maybe going to the fact in her prior role handling security for you know, british people she was deemed to let a lot of things slip through the cracks and rallying around the leader didnt materialize . What is going on here . This would be the first time such a thing has happened . Well, i think youre absolutely right. She was deemed to be part of a government under cameron that had allowed borders to be wide open. Had actually almost cut some of the resources for law and order, and therefore she was associated with that government and i think youre right, she did suffer because of that. This is seen as a politicians problem. The weak need leftwing politicians left this problem and called for citizens to not have any weapons to defend themselves. It is an amazing conundrum. There is in United States congress, congressman allowed to happen in america, want to be allowed to to carry guns where theyre trying to stop people carrying guns in certain states. Neil the president seizing on some of these developments and what unites europe in the battle against terror, to remind brits they can still stay in the european union. It is still possible and not too late for them to rethink this. What did you think of that . Well it looked to me be a bluff, which is always bad going into negotiation. I think underneath it, what theyre trying to do is encourage the antibrexit forces within the United Kingdom and give them hope that they will be able to sabotage brexit. Meanwhile Prime Minister may has shown real determination by extending the parliament to two years, her determination to deliver the brexit that the free british people voted for, and if possible, a clean break and one with a smooth trantion i think that is what she is aiming at. First of all, of course they have to establish the process by which this negotiation must happen. To get out of single market, out from under the European Court of justice and to achieve the return of our sovereignty, our laws, and our borders. Neil real quickly, if the vote were to happen all over again, do you think it would go the same way . On brexit . Like asking me, that is like asking me who would win the Kentucky Derby if they ran the race again. I dont know. Neil i dont know either. I would check with you. John brown, thank you very, very much. Thank you. Neil big tech ceos are headed to the white house right now and it is a whos who list that includes the head of amazon and apple and microsoft and ibm, alphabet and parent of google and all want a seat at the table. One person not there elon musk. What risk he risk not being there . He took opt out of the Global Climate deal in paris, around couldnt take that and wanted to leave this executive group but did he hurt himself so doing. These executives agree but they figure better to be part of policy than not being there and being served, for lunch. More after this. Looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Afi sure had a lot on my mind. My 30year marriage. 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Neil you think about it, all this started with netflix, house of cards, content on these various ancillary services suddenly became the rage. Now snapchat getting into the act, getting a big commitment on part of time warner to sign a 100 milliondollar deal with snap on advertising, offering original programing for snap that will include the likes of ellen degeneres, samantha b, even wonder woman could play a part. I dont know about the actual wonder woman. Shows unique and on snap only. This is not the first time weve seen others move beyond this. Apple has been expanding its own commitment to original appleonly programing this is e firstime weve seen snap at such a laescale do the same here. Better than 100 milliondollar commitment on the part of time warner that will include hbo developing shows for this app that would only be for snap. So well keep you posted on further developments but this is an on going trend in the entertainment world where content, especially new and specific content for a specific provider is king. Worlds most prominent tech ceos are meeting with president. United states and they are a whos who of some notables, including those, not necessarily been on the same page as this president. Adam shapiro at the white house with more. Hey, adam. Reporter this is part of president s plan to streamline the operations of the u. S. Government but to modernize the Government Back when he signed the executive order, creating the American Technology council. It has been determined that the u. S. Government spends greater than eight at this billion dollars every year on i. T. Technology services. 80 billion. They want to make sure the civiles are uptodate. This is what Kellyanne Conway said this morn about big tech ceos coming to the white house today. We need a Government Agency to talk to each other, make it seamless and modernize it. That is why the tech ceos are coming in to do that. They have been incredibly successful and that theyre coming in to share best practices with the president. Reporter give you idea some of the names here, jeff bezos from amazon, tim cook obviously apple Satya Nadella from microsoft. Eric schmidt already arrived, executive chairman of alphabet, the company we used to call google, the parent company. They will talk about different issues about technology and improving again systems in the u. S. Government which are 10 to 20 years behind. Among the topics, are Electronic Medical records t takes up for the sick months for the va to get medical records for someone coming into the system. H1b visa program, they want to remove fraud and streamline it. Artificial intelligence, this is about machines learning how to do function as will as big data. Neil, this is about the government having the secure ability to go into the cloud. One final thing. Senior Administration Official tells fox business that quote, these are things that are going to require years to really make significant progress on. Our systems in some cases are 10 to 20 years out of date. So were not going to fix that in one day but we have to start now. Now is around 1 00 p. M. When the tech ceos will meet for four hours. They will meet with the president later this afternoon. They have an executive dinner with the president. This would be the beginning of what could be a revolutionary change for the way the u. S. Government operates. Could save up to a trillion dollars over 10 years if they get this right. Neil thank you very, very much, adam shapiro. Glen hall, u. S. Editor of the wall street journal joins us now. Glen, part of this idea the way government benefits and like are handed out if we had them done with the ease you could order something off of amazon yo would be off to the races saving a lot more money, efficiency, people would not hate government i understand all that, is that doable . This is not the first president to make government more efficient to waste less money, what do you think . Its a huge, huge challenge. The government report you were talking about showing 80 billion budgeted for i. T. Each year, 3 4 goes on just maintaining so of these systems 10 to 20 years. Some systems are old as 50 years. Running Software Outdated and no longer used by anyone else. Neil glen, the i dont understand not being benefit at this table. Elon musk, tesla fame, once the president opted out of the climb at accord i dont want want to t of this. Some dont like the travel ban but figure better a seat at the table than no seat at all. That is the thinking of most of them, mr. Musk notwithstanding but what do you make of this . Generally speaking we see corporate chieftans try to avoid etaging unwith side or another on the political debate. That alienates one side of the country. You dont off the see this kind of positiontaking. At a very practical level, there is regulatory influence you should have if youre a participant you wont have if youre not a participant. Elon musk, looking for alternative energy, battery power, solar power, which regulation does the industry go, which industries favor, having a seat at the table matters as well. Lastly for some chieftans there is a potentially Big Government dollar contracts to upgrade the systems. Neil do you get a sense they are united on more things than they are divided for example they want to see the big tax cuts and like. They want regulations eased up but maybe not as aggressively as ceo counterparts in other industry but they want to see this come to pass especially apple that hold money abroad. This is one of the more ceo friendly administrations weve seen. By our calculations more than 300 executives passed through the white house to meet with the president. He is listening, looking for their advice. So that is a huge opportunity for all of them, and i think that is why you see some of them participating and so few who are standing down. Neil real quickly on, i understand going into this meeting the president met with 350 ceos. Some might be redundancies or others returning but weve seen never anything like this under democratic or republican predecessors. What is the president getting in return for that . Well, hopefully he is getting good ideas he can execute and he is can get better relationships going. You know part of what were hearing out of this white house is that there is an effort to create a more entrepreneurial spirit within government, to run government like a business. So youre seeing some of that. And there is real opportunity for these executives to shape how this white house goes and how the culture may change in the long term. Neil thank you, glenn. Glenn hall, wall street journal editor, very big cheese there. Well have it on 4 00 p. M. On your world, what implications are for those dont show up and those that might fall in the president s bad graces. Inhe past that sometimes doesnt work out well for those ceos who do or dont. Meanwhile is amazon, especially the whole foods acquisitions branching out a little too far and is it going to have to cough up a little bit more . Dont look now, but whole foods price is above amazons price to purchase it. That means someone else is expected to bid or jeff bezos is going to have to cough up dough. The whole story after this. Neil all right. For a while amazon was at an alltime high. It is still up there, just shy of a thousand bucks a share after that 13. 7 billion bid for whole foods. Whole foods is trading north of the bid that amazon has on the table so what are to glean from that . Is another bidder coming to the table . Will it force jeff bezos to pony up more . Popular Sciences Robert berger and market watcher. Is this the start after bidding war, what do you think . It could be. If youre fighting bezos with all his money, good luck. I dont see where that happens if anyone could outbid him if they try. Neil what about you walmart . That name came up a lot . Walmart. But they already have their own grocer to some extent. If amazon is trying to diverse out of businesses sufficient as newspapers or space travel, then this is one way to further diversify. Neil he could use the newspaper to wrap the fish at whole foods. Robert, im looking at it, wondering what will i see out of this . There is whole foods not far from where i live . What will change if this goes through . I think its a very exciting deal for consumers like you and me who may not want to voice the local whole foods or maybe whole foods did far away. You want to get avocados and eggs delivered fresh and from to your door. Neil it has to be day of to get it sent to you . Day of or order at lunch, get that night. Or order at lunch get it next morning. Opens up a lot of options. Neil would you pay for more as a result . In other words, eggs or fish, cost more . Whole foods is pricey to begin with, right . It is. I think people love convenience. If you can get something that is convenient and at the same price a little bit more, delivered to your door, that is a real win for people. Neil that is what theyre all about, right . But they would have to increase their price. That goss against everything they stand for being a lowcost competitor. That is their competitive advantage. Neil amazon . Yes, amazon alternative. That is the not the case with whole foods, to increase the price neil they could buy any Grocery Store chain around. They chose whole foods, why . Perhaps because theyre looking, completely different from the current culture. So there could be a culture clash as a result of that. But if youre looking to diversify yourself, some would say whole foods may be one of the best with organic food election in all of the markets f theyre trying to push people out of business, kick butts of competitors that is how you do it. Neil theyre still tanking today on that notion all of sudden way we buy food is going to change, is it . Competition is important. Hopefully the other brand took the hit, that will be a kick in the pants to up their game. Neil to be fair to them, same rap that the momandpop stores had with walmart getting bigger and bigger. How do you compete . Grocery store system is same for decades. We go to the store, put them in a cart, put it in a car. If we could do it online that would be awesome. Neil all food would be shipped home. No. I like to feel the oranges or apples, i want to make sure theyre fresh. You would be trusting with some sort of guarranty. Neil there are Delivery Service and efficient Delivery Service. If theyre getting into brickandmortar business i know what youre saying could they leverage those stores to sell other things or what . They would use them as Distribution Centers to sell other things. Could use them as return centers like amazon lockers, people return items they bought they no longer want. Makes sense they use these to sell fresh produce. They could distribute other things as well. If theyre operating as individual independent entity, in order to merge into selling different items within the Grocery Store, theyre going to have to really have management oversee whole foods as well to merge some of the synergies they have or it will not work operating independently neil are there regulatory issues . It could face hurdles. It looks like amazon taking over the world. I wouldnt be surprised. Neil what do you think . I would think neil youre interested in getting avocados. Youre lazy. I dont want to go to whole foods to shovel bows with other people. I want it to come to my door. Neil these people have chemicals in their food they dont really mind. They will be patient. Guys, thank you very, very much. Meantime is donald trump under investigation or what . There is a great deal of confusion because he seemed to say that he is. And, his lawyers say not. Has anyone run this by the boss or the boss by them . Im confused. 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The only bed smart enough to change sleep as we know it. It senses your every move and automatically adjusts on both sides to keep you comfortable. And snoring . Does your bed do that . Right now save on sleep number 360 smart beds. Plus, its the lowest prices of the season with savings of 500 on our most popular p5 bed. The president has not been notified by anyone that he is under investigation. That tweet, chris, was in response to the Washington Post story that alleged that five unnamed sources anonymous sources, leaked to the Washington Post that the president was in fact under investigation. So that tweet was in response to that. Mr. Comey testified that the president is not, the president said in the letter where he dismissed mr. Comey in may that comey had told him three times that he wasnt under investigation. They have not been notified otherwise. His personal lawyer would know this. Neil then why did the president tweet that he was . All right. Im no lawyer. So im confused. But i will leave it at that. So whether the president is or isnt under investigation, related to you and your money because this would be a mighty distraction if he is. He just added john dowd to legal team. Is that legal team on the same page as the boss . Daily mail. Com correspondent, what that could mean for the president s agenda. Obviously most who want to see that agenda pushed through, francesca, hope that is not the case, that the president is not under investigation here, but what are you hearing . This is obviously a clear distraction for this administration, neil. This weekend we saw the president s lawyer, jay sekulow, appeared across networks to respond to the tweet that the president said about the Washington Post report. What you didnt see Administration Officials on television pushing the president s agenda and talking about taxes, infrastructure, cuba policy announcement on friday. Instead you saw marco rubio on television talking about that. White house press brief something offcamara. Another opportunity they might have had to potentially talk about his agenda. That would be north opportunity for us to ask them repeatedly about this russia investigation. Neil so, let me ask you this. The president says, or now it is being explained after the fact that he was only following up on stories that had this investigation issue out there. But that he was never saying that he himself was under investigation. Youre far smarter at this stuff than i am but i am confused. Are you . Right. Well, the president s lawyers saying that he is not under investigation. Unclear why the president would have tweeted that. He said he was responding to the Washington Post report. As youre noting here it is not clear why the president wouldnt have talked to his lawyer about that report to find out if he wasnt under investigation before he sent that tweet out, neil. Neil right, right. What im wondering, lets assume the lawyers are right and he got it wrong, it does get back to the issue of whether tweeting is in his best interest unless he is sticking to subjects might be working for him, like the economy, tax cuts, health care thing, the stuff he inkse has a chance of constructively changing the debate. I always find that, while im perfectly find with him tweeting, when he goes off the reservation or in neither areas that he opens this up to be a bigger saga than it already is. The white house consistently said they think the president is the best messenger for his agenda. That is something that we heard jay sekulow say himself. Neil when it is his agenda. This is off agenda, this is off topic. This morning jay sekulow addressed that, he also addressed it this morning look, lawyers said they didnt really have a problem with him tweeting it. Of course Brian Kilmeade jumped in said shouldnt you direct him not to tweet about the investigation, giving advice what he should and should not say after trumps lawyer said that he wasnt telling him those things. Was not telling him what not to say on twitter. Just shocking to him but a lot of people who may have thought his legal team would tell him not to get involved in this investigation at this point. Neil theyre afraid of him. Theyre afraid to take him on or whatever. Maybe. But, jessica, one thing im curious about, lets say he were under investigation. That were preliminary move, anyone would make looking into this, so if mueller is curious about trying to find out things, he wants to isolate or remove that sort of thing, that you know, the president might have obstructed justice or investigation for doing so, then to move on. When does it become a big deal when we have more proof he is aggressively pursuing that . I think its already a big deal, neil, that were having this conversation where the president has said he is under investigation. He has his legal team saying no, he is not under investigation. I think that already shows you where were at and what a big deal it is but i think well have to see some more proof that he is under investigation and to speak to the point whether he is or is not under investigation, one of the lawyers responses to that is the reason they think he is not because james comey said that he wasnt when he testified. Well james comey was fired on may 9th. That was more than a month ago. Neil right. Things have changed, right. So a lot of things have changed. The reason the president would be under investigation for firing james comey and potential obstruction of justice. That is is something that james comey could not possibly know. Neil i think im more confused but closer to unrstanding this. Ter this. The quicksilver card from capital one doesnt do any of that. With quicksilver you earn unlimited 1. 5 cash back on every purchase, everywhere. Leave complicated behind. Whats in your wallet . Neil all right. Stocks still at alltime highs for the dow can and the s p, the nasdaq, not so much. Amazon, for example, was at a record before giving back ground on this whole foods purchase but still doing o. K. Obviously, theyre anticipating a bit of a bidding war. And, separately, we have reports republicans are considering canceling the august recess. That i find hard to believe, because they cling to that recess, even if it means losing their jobs. But that could be me. Fox business gerri willis on that, editorinchief of the hill, bob cusack. On the health care thing and what theyre willing to risk, including august recess, to make sure they get progress here. Heres what im hearing from my sources on capitol hill, that, in fact, theyll have a bill next week. And you can expect in that bill theyre going to be careful to make sure they save money. Why . Because they want to bring it under reconciliation. So to do that, theyre going to keep a lot of those taxes, 31 taxes that obamacare 21 taxes that obamacare put in place, to make sure they can pay for it. Including among those, the medicare surtax on investment income, the payroll tax. And thisll affect higher income, many of your viewers, neil, higher income focus out there who make a lot of money and pay a lot of taxes already. Also you can be sure that Medicaid Expansion that the democrats put in place, that will go away less quickly under the senate bill. So all of this is a way of saying were going to make sure we can bring it under reconciliation. You should note though they are already working with cbo to. Big questions about when they would get it to cbo to, would this be a next step. No, theyre working hand in hand right now to make sure they can get something out that they like. Those democrats, neil, already shooting at it. They say, hey, were going to get on the floor, make long speeches, try to interrupt the progress of not just the bill, but of all the senate work to make sure this doesnt happen x. Before you let me go here, i just want to say the Chuck Schumer letter where he invited himself to speak with Republican Leaders . At the end of it, he says that he wants to improve the affordability and accessibility of health care in this country. Some republicans seeing that, hey, as maybe an opening for republicans here to craft some kind of new legislation. Neil . Neil all right. Stay there, gerri. Obviously, bob cusack, that would seem to hint of a bipartisan type of a deal to save health care. Yeah. Neil where both parties benefit. Now, of course, whats been, you know, very crucial in those talks in the past is democrats refusal to let republicans torpedo the health care act, but just fix it. Where do we stand on this . Well, i think the onus is now on Senate Republicans to move a partisan bill, because no democrats going to vote for this round. And i do think theres a lot of pressure to pass it before the august recess starts. There are indications that theres going to be a vote on this one way or the other, so Mitch Mcconnell has got to get all his guys he can afford two defections. Its going to be very difficult. As far as the august recess, youre right, neil, they like their august recess. They have fundraisers, vacations. I could see part of it being rescinded and they stay here a little bit longer, but it depends on if they can get health care done. If they can get health care done before the august recess, then theyll claim victory and go home. Neil republicans in the house, particularly conservatives, are concerned about. The Republican Study Committee is apparently telling Mitch Mcconnell what hes concocting could jeopardize final passage in the house. So, bob, how big a adopt is this . Development is this . The overtures you make to n over democrats to talk to republicans is ultimately undone by conservatives in the house who are saying what the heck is going on here . Yeah. The hardest part of all this is not the house passing it, its not the Senate Passing it, because i can see republicans saying lets get it into conference. The hardest part is reconciling the housepassed bill and the senatepassed bill, if theyre able to pass one. That is going to be so, so difficult, and i think the chances of that are definitely less than 50 . But i do think they can get a bill through the senate with the mentality thats come on, its us against them. Just, just vote to get to the next step. Neil you know, gerri, did the president complicate matters by saying that the house measure was, quoteunquote, mean . Maybe he was just trying to say that, you know, theres a better way of Going Forward here, but many in the house feel that he abandoned them. Well, this happens over and over and over again, it seems to me. The president often getting in his own way of getting something he really, really wants. He really wants to change obamacare, to get rid of obamacare, and his last best hope right now, the senate coming up with some kind of bill. But making the republicans in the house mad . Not a good solution. I mean, i have to say it, i didnt really understand why he came out and tweeted that. Out told me that it told me that possibly republicans in the senate were getting closer and he was hearing about it, and he was convinced. Neil yeah. You never know. But, obviously, the markets feel confident that something will get done, so well see. Guys, i want to thank you both very, very much. The dow at 21,509. Meanwhile, georgia has a special election, and its already the most expensive in the nation ever in this nation. Money doesnt always translate to a win. If that were the case, of course, then the democrat who appeared out of nowhere, this 30yearold john osoff, would be well on his way. No candidate ever has been able to garner close to 25 million from outside the state of georgia, to say nothing outside his district. The daily caller editor katie rates on if money is going to spell this election result, because if that were the case, katie, then he is well on his way. Right. But so theyre going to say, i mean, if we had someone like hillary clinton, of course, and we put millions and millions and millions and millions of dollars into something and you have a hollow shell of a candidate, as you say, who doesnt even live in the sixth Congressional District of georgia, its probably not going to work out. Money cant substitute for a candidate that people dont like and dont believe neil but hes polling pretty well. Now, these polls are all over the map, i grant you. Right. Neil the fact that its competitive as it is and this republican safe haven, its been that a way since 1979, i guess when Newt Gingrich came to power, what would that mean . Democrats would seize on that as sort of a tantalizing opening act to next year and taking the house, right . Right. Democrats are going to say this is a winwin for them no matter what. If he does defeat karen handle in the election handel in the election, theyre going to say its the coming tide for democrats. If he loses, then theyre going to say they scared the pants off of republicans in a traditionally red district x thats why all those tens of millions of dollars were worth it. But theyre going to have to decide if that money is worth it because who really knows if 25 million is worth the sixth Congressional District. Neil very good point. I dont know what you glean into this, 140,000, 50,000 of the majority voted including 36,000 who didnt vote in the april primary. Is in any way to glean who those voters are, or is it simply too soon to tell . I think it may be too soon to tell. Of course, we have to see what the turnouts going to be. Im very interested to see how all of this outside money is going to actually affect the voters that turn out for this race. But well see how energized the sixth district democrats really are, and right now i dont think we can tell. Same with the republicans. Neil karen handel herself, if she can as the republican candidate pull this out, you know, if you think about it, republicans have been managing even in this pricey race to keep their head above water and win the races they had to win. Even if they lose this one, is there a sense and i know how the media will play it, but is there a sense theyve come up aces all the time . Because this would be the first time they have. I mean, well see. I think its not going to be that big of a deal if she loses. People keep forgetting she was facing off against a lot of republican competition before she even got neil thats right. And hes had so much more time to solidify a base. So shes kind of playing catch up. But honestly, i dont think this signals that much of a win for democrats, because who knows if hell win reelection down the road. Neil interesting. Katie, thank you very much. Thanks. Neil lets play this out a little bit. What happens then if all of a sudden late tomorrow night we get results that show that this safe republican district has tipped democrat . Then the next day in trading what are we looking at . A market watcher extraordinaire, what do you think . Look, if the republicans start losing, probably doesnt help markets due to the fact i do believe a possible conservative agenda coming up, even though we havent seen much of it yet, will help markets. So its something to watch very closely. And, look, with elections momentum is everything, and i can promise you the dems as well as the medias going to drive this ball to the hoop bigtime if the dems do win. Neil all right. But the market seems to be betting that republicans will eke this out. Con seven discuss is always dangerous, predictions are even more so as youve reminded me over these many years. But you think a loss here on the part of the republicans in this otherwise up til now safe republican district would be damaging at least near term to stocks. It doesnt help the cause. The good news is for the market right now dow and s p are strong, the nasdaq got hit real hard last week, looks like it held some real strong support today. And something that hasnt been talked about, last week europe even though things are better theyre going to still print the trillion bucks a year and still at negative half percent interest rate, same for japan. And i think thats whats keeping a floor under the market and keeping any trouble away at this point in time. Easy money has always worked for the markets. I think thats the big help here. Neil in the meantime, Big Technology stocks, not universally, have been clawing their way back. Amazon, of course, a chief beneficiary of that and, of course, apple, netflix, facebook, some of these names were showing here, they have rebounded a little bit. Thats not to say they always will. Are they still the Party Leaders . In other words, have you seen anyone else emerge that can take their place . Ive never seen anything take the place of technology in a bull market. Technology always leads, and thats why its so important to watch it. Second is financials, but i think a very faraway second. So as long as technologys doing well and were talking about software, internet, fiber optics and the like, i think all is in good stead, and today is really important. The big money came back in right at support levels today and said were not going any lower. And you can see what the markets doing today. And by the way, ive been hearing this talk about its a very narrow market, and it is. Ive seen much broaderbased markets, but there are plenty of areas doing pretty well. Im seeing things that you put in your home like whirlpool and Sherwin Williams breaking out to new highs, caterpillar and deere. Youve got boeing and johnson johnson. So i think its in pretty good stead and surprisingly so, because usually we get the summer doldrums, so so far so good. Neil another thing that comes up with some of these Technology Stocks coming back is that they dont if theyre concerned about tax cuts not happening, they have a funny way of showing it. So if it looks like the tax cut thing given the limited legislative days and or the health care thing given the limited legislative days is delayed to a nextyear event at the earliest, then what . Heck to pay, simple as that. I think a big portion of what weve seen and its by no accident, the day after the election the market lifted off is because of all that. We had eight years of the opposite not only on tax, but on regulations and just about everything else. So i really do believe not only markets, but Business Owners and the heads of major corporations are in expectation, are in planning for all this Going Forward, and that is tax relief, health care. And when i hear, though, about this Health Care Bill that they may put, leave 21 taxes in there and we also keep hearing about border tax, im not very excited. Thats something that has to be watched very, very closely Going Forward. Neil yeah. Doesnt sound a whole lot different than the one its presumably replacing. Gary, thank you very much. Thank you. Neil london hit by terror yet again. Were learning new details on the suspect that sounds a lot like other, prior suspects, again and again. After this. 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Help stop the journey of gum disease. Try new parodontax toothpaste. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Tthats why at comcast,t to be connected 24 7. Were always working to make our services more reliable. With technology that can update itself. And advanced Fiber Network infrastructure. New, more Reliable Equipment for your home. And a new culture built around customer service. It all adds up to our most Reliable Network ever. One that keeps you connected to what matters most. Neil all right, hereat we now know about this latest attack or potential attack in france paris, more to the point. A 31yearold driver slamming into a police car that city. He had been known to cops as a terror threat. Fox confirming there was a gas tank in the car. The driver, of course, now dead. Switching to london now, a terrorist suspected in a london van attack there, Connell Mcshane has new details on the suspect there. Reporter we just got a name, neil, the newest detail, Darren Osborn is the name of the suspect, 47 years old, were told, from wales. Darren osborn. The police say this man is facing terrorrelated charges, allegedly ran over a group of people late last night, early this morning at a mosque. Theres one dead, ten injured. You know, a group of citizens there outside the mosque played a large role in taking this Darren Osborn down. They wrestled him to the ground before the police got there. He was standing outside of the white van that he is supposed to have use9 to run these people over. The mayor of london, himself a muslim are, sadiq khan, said he is treating this as an act of terrorism i. The president adds this we will establish a new commission for countering extremism as a statutory body to help fight hatred and extremism in the same way as we have fought racism. Because this extremism is every bit as insidious and destructive to our values and our way of life. And we will stop at nothing to defeat it. Reporter yeah, theresa may speak about extremism of any kind, and that, she said, includes islamophobia. In terms of whether anyone else was involved, we dont really know, but were told police have been searching a home in wales, and now we know thats where the suspect is from. Here in new york we got a statement from the police department, and it reads out of an abundance of caution, Critical Response command units have been deployed to mosques throughout the city. Something, quite frankly, weve grown accustomed to here in new york. But again, one dead, ten injured, all muslims. And now we have a name, Darren Osborne, the suspect. Neil connell, thank you very much. Meanwhile, russia issuing a warning to the u. S. After a syrian plane is shot down by american forces. Former bush 43 state Department Official paul botticelli. Do you think the russians would make good on that threat, that if we are over there, their zone, protected zone, they would shoot down any u. S. Plane that ventures there . I do not think that they would. The last thing putin wants is a war with us or a conflict where he even gets a bloody nose. He cant afford to do that in his country because he lives by, you know, the nature of the strongman. No soviet leader wants it either. Hes claimed that hes cutting off communication, that special communication line is only one form of communication. Its more of a diplomatic show than it is, you know, the real communication between our militaries. But he also stopped short of saying he would shoot down anything. So its definitely tough rhetoric. He is trying to gain the upper hand here afr the miliation of shooting down the syrian jet. But hes met a n president in President Trump who is, obviously, not a lap dog to putin, else he wouldnt have shot down putins allys plane. Neil thats a very good point. Paul, another thing that comes up is whether we had, in fact, warned the russians we would do just that. We gave them, when we launched the tomahawk missile attack a couple of months ago in response to that chemical weapons attack, we gave the russians a heads up thats exactly what we were going to do. They were outraged and angry, but im wondering if we would have done the same thing or we had it on goodstanding word that thats exactly what we would do. Yeah, a couple of things. We dont know yet if we did warn them, so it may come out that we did, or it may have been done in a channel that we just dont talk about. Neil right. Secondly, they were very clear what we would do because just like they were u. S. Troops that might have been attacked, we will not tolerate attacks on our coalition force. We lose face as much as else if we tell these people were going to protect them, theyre fighting for a cause we believe in and we allowed them to be killed, it would have been an affront to the u. S. And remember, they were warned with our actions in the region, and then they went back and bombed again. So they really did know what we would do even if we didnt explicitly say that planes coming down. Neil you know, are these skies, do you know, paul, monitored . In other words, in case there is overlap or one country or coalitions planes are getting close to another . I mean, like, i dont know, for oversimplification of, like, air Traffic Control in this country. Yeah. It is probably not like, you know, watching planes over toledo [laughter] but its pretty sophisticated the way we watch, the way they watch. We coordinate. Israel, obviously, doesnt talk about it, but it knows a lot about whats going on in every pa part of that region. So while there can be miscalculations, these were very calculated acts. The syrian jet dropped bombs on purpose to try to stop the forces that we have built up and protected, and we shot that plane down very intentionally because it crossed a line. Neil all right. Paul, thank you very much for taking the time. We appreciate it. Sure, neil. Neil all right. Technology ceos, that meeting has now begun at the white house. And whatever their differences with this president , largely to a man or woman they do have fierce differences with this president like on the climate accord, like on visas, what have you, the travel ban, you name it, theyve all done very well. That is, their stocks and their companies have done very well since donald trump was elected president of the United States. So im sure theyre not interested in getting on his bad side, and im sure theyre not interested in necessarily pulling an elon musk and robbing them of a chance to be at that table. Hes the only one whos not at that table. All the other tech ceos are. More after this. Pressure welcome to holiday inn whether for big meetings or little getaways, there are always smiles ahead at holiday inn. Thithis is the new new york. E . Think again. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov neil all right. Youtube is doing its best, it says, to fight terror by making extremist content harder to find and at least keep on its site, but a lot of critics are saying, well, a lot too late. Hillary vaughn with the latest on what its trying to do. Hillary . Reporter neil, youtube is not only ramping up efforts to combat terrorist content by identifying it more quickly and taking it down, but now theyre also taking a tougher stance on videos that arent in direct violation of their policies and, therefore, cannot be taken offline. Heres what theyre doing. Videos that contain offensive or inflammatory religious content will remain on their site but now with new restrictions. Those videos will not play with ads, and users wont be able to make money off of views. Comments will be deactivated, and they cant be promoted by other users. The videos will also play along with a warning. Googles general counsel, ken walker, writing in a block post saying that means these videos will have less engagement and be harder to find. We think this strikes the right balance between Free Expression and access to information without promoting extremely offensive viewpoints. Now, these videos that arent explicitly calling for violence can be just as dangerous. One of the attackers in the London Bridge knife attack was reportedly radicalized by watching sermons from an islamic cleric on youtube. Ya brills account remains active online with no ad play, but theres also no warning posted along with his videos. Now, keeping track of this content is critical. Youtube says 400 hours of video content is uploaded every minute, thats about a centurys worth of video every day and a half which means youtube cannot police their content in realtime. Neil. Neil thank you very much. Meanwhile, speaking of all things technology, a big tech summit going on at the white house right now amid this backdrop of terror. The Tech Companies need help from the white house, or at least cover from the white house. Alex pappas says the washington examiners white house reporter, good to have you. Hey, neil. Neil on this terror thing, thats the latest backdrop to everything going on, alec, and im wondering how much thats playing into the discussion. I have to imagine its going to be talked about a little bit. The white house says the big focus of today is modernizing government, so they want to bring in some of the top ceos, and they are bringing in top ceos from top Tech Companies to come and say, hey, what can we do to make government i. T. , for example, more modern. And some ite house officials were saying, you know, people in america, they go on amaz, for exple, and they have a good experience. But they go onto government web sites and maybe not such a good experience. Bring in these guys and say, hey, how can you make it better . For these guys, they arent necessarily big supporters of the president , they get a seat at table at the white house. The president of the United States invites you, youre going to take him up, i think. At least for the most part. Neil is it your sense that elon musk is going to regret opting out of this group . Because better a seat at the table than no seat at all . Yeah, i think so. And, you know, look, most people didnt take that tack. And they are, i would imagine at some of these companies, having tremendous amount of pressure from liberal activists who are saying dont talk with donald trump at all. I think a lot of these guys are being a lot more practical thinking, hey, if we have a chance to affect policy and the president of the United States is asking us to come in here and suggest things we can do to change that would probably directly affect our company, were not going to say no just because liberal activists are saying we shouldnt. Neil and the reality they kind of agree with elon musk, opting out of the climate accord was a mistake, they agree with him that this travel ban is something that hurts them or most of them have had that kind of view expressed. So why do they stay . Is it that they like the idea of the tax cut . They like the idea of a tax holiday with money held abroad thats particularly appealing to the alphabets and the apples . What is it that keeps them there . I think, once again, that they have a seat at the table. If the president s going to ask you your opinion, why would you say no and not have any seat at all, or you could go there and talk to them . You know, its a thing that the white house is enthusiastic about bringing these people in, i they want to be talking about anything other than the russia investigation. The last couple weeks theyve been trying to hit all these different policy points, infrastructure, work force development, now theyre doing tech. Neil all right. Thank you very, very much, alex. Jared kushner, we have some tape coming from the white house, the meeting with these ceos. Lets listen in. Behind the White House Office of American Innovation. I also want to thank chris hi dell for his hard work in making today possible. Today weve assembled a very Impressive Group of leaders from the private sector and are putting them to work here today to work on some of the countrys Biggest Challenges that will make a very meaningful difference to a lot of its citizens. This is Technology Week here at the white house, and we are proud to be kicking it off with your engagement and assistance as we work to modernize the Governments Technology infrastructure. We created the White House Office of American Innovation in an effort to bring business sensibility to a government that for too long has relied on past practices as automatic justification for their continuation. Before i came to washington, many warned me that the bureaucracy would resist any change that we tried to implement. So far i have found exactly the opposite. To date, weve been working with hundreds of talented civil servants, men and women who want to serve their country and see their government do better. We have challenged ourselves to pursue change that will provide utility to americans far beyond our tenure here. Together we have set Ambitious Goals and empowered interagency teams to tackle our objectives. Its working, and its very exciting. We began by analyzing and auditing our current infrastructure. It turns out that federal agencies collectively operate 6,100 data centers, the vast majority of which can be consolidated and migrated to the cloud, something a lot of you know a lot about. Many of our federal systems are decades old with our ten oldest being between 39 and 56 years old. The department of defense, for example, still uses 8inch floppy disks on some of its legacy systems. The 1980 paperwork reduction act, designed to make government more efficient but also established before the government used computers, still has domain over every form published online. This requires a six month review and a rigorous interagency process to approve any changes that can be made on a government web site. Regardless of how minor they are. This traps thousands of processes in paperwork and prevents routine improvements, optimization and often innovation. The v. A. Has 532 forms on vets. Gov, the majority of which are not accessible by modern browsers. Most Services Still use paper forms including 90 of Health Care Applications and 86 of claims. Our veterans deserve better, and thats what we are going to deliver. Civilian agencies maintain over 1. 6 million email addresses via onpremise servers which are maintained by over 40 different contracts paying on average 20 per or user, per month. Agencies that have migrated to cloudbased email have seen these costs reduced to as little as 3 per user. Our goal here is simple we are here to improve the day to day lives of the average citizen. Thats a core promise, and we are keeping it. Together we will unleash the creativity of the private sector to provide Citizen Services in a way that is has never happened before. We will foster a new set of startups focused on gov tech and be the Global Leader in the field making government more transparent and responsive to citizens needs. We are encouraged by the enthusiasm and collective desire to succeed, and we have already begun to see many improvements. Two weeks ago secretary shulkin announced the plan to unify the Electronic Medical record systems of the v. A. And the dod. As the two systems encompass, essentially, the same set of users, this merger would seem obvious. However, this has been a major issue for veterans, and despite 16 years of failed efforts, the Trump Administration got it done in less than five months. Additionally, the v. A. Has already been able to reduce the average wait time for claim establishment from 25 days to 8. Secretary shulkin has done an outstanding job and has many more great announcementshat will be coming soon including a very big one this coming friday. Omb has eliminated more than 30 outdated one and Unnecessary Technology policies come prides of more than 850 discreet requirements of federal agencies. This effort alone will reduce Compliance Costs by tens of thousands of work hours per year. For example, until last week the government was still requiring federal agencies to Check Software for y2k compliance. We have also worked with bipartisan leaders of the house to unanimously pass the modernizing Government Technology act and are actively working with the senate to send it to the president s desk for signing into law. A conservative estimate has our Governments Technology spending at over 80 billion a year annually. Over twothirds of these costs are spent maintaining legacy systems. This structure is unsustainable. Ultimately, these problems are more than simply technical. They are about veterans in need of care, students fulfilling their potential and americans pursuing their dreams. By modernizing these systems, we will meaningfully improve the lives of tens of millions of americans. Thank you all for being here today and for participating in these sessions, and we hope that in the coming weeks well be able to announce a lot more very exciting successes that will make this country better for everybody. I now want to turn this over to chris whos going to go into more detail on the different sessions and give you more direction on the neil all right. We wanted to stick can with that, Jared Kushner, its the first time weve heard him, at least to my memory, heard him speak. We know hes a certain power behind the scenes. But right now this was the first time weve heard him speak. And, of course, he is the one shepherding this process along with all these tech ceos. Charlie gasparino on the significance of that after this. And later on, one of the people in that room is jeff bezos of amazon, in the middle of a big purchase for whole foods and a stock that races to alltime highs, it seems, on a daily basis. He, too, weighing in on the changing landscape for retail, after this. Neil all right, we heard Jared Kushner speak. You know, and i never heard him before, and ive covered trump for decades now but never heard Jared Kushner speak. Today i did. Today you did. Thats our gift to you, america. Youre welcome. Now, ahead of the big trip that he has planned in the middle east, hes the guy orchestrating this pow pow of tech ceoings powwow of tech ceos. Thats a pretty crucial role, and doesnt Charlie Gasparino know it. Another kushner pointperson role. Its nice to know that Jared Kushner can actually articulate words in a coherent way, i would suggest as well, based on what i just witnessed. I cant be too sure, its just once. Neil sound like youre getting kind of mean. Well, thats mean or just, its just me, okay . That said, i give him low probability ofsoeverring middle eastern of solving the middle eastern crisis which is one of his things on his agenda. And this tech thing is interesting. I mean, i think thats kind of more in his ballpark, you know . Neil right. And hes very comfortable with that crowd. Yeah. Meeting with tech ceos. But, you know, ill tell you, it just does bother me that a guy like that, you know, hes a smart kid, i guess, but he hasnt really done that much in his life. Hes got this neil Bobby Kennedy when he was attorney general . Oh, yes, he did a few things. He was neil got his brother elected president. Was on some neil going after the mob. He went after the mob, i dont know if this is a positive neil youre saying even though Bobby Kennedy was roughly the same age now, a world of difference. Look it up. It just rankles me that, you know, thats what were dealing with here. And if you wonder why this agenda has been stalling, i mean, this is one of the reasons. Hes got an inexperienced person with way too much to do. Neil yet i dont know whether these numbers are redundant, but 350 sew owes ceos have met with the president at the white house. Thats already a record for a thats a good thing. Neil and thats a good thing. What has it accomplished though . Especially since some of these are critics of the president on environmental accord, the travel ban, but they obviously see a benefit to being at that table. Listen, we criticize trump on his bad stuff, i think thats a really good thing. And the ceos i speak to remember what used to happen when obama met with ceos . He used to lecture them, berate them, show up late. It was a pathetic sort of thing where he used to treat them like garbage neil and the president is in his almost with these guys. These guys feel like the white house wants to help them help the country, and i think thats a really positive thing. Every ceo, ive talked to some of the handlers who were in some of those meetings, they felt like this is an administration we can work with, that, you know, they want to help business create jobs. Neil look at eric schmidt, of course, of google parent alphabet fame and some of these others, what do they get out of it . The ibm chairwoman. Well, you dont want the white house to be at war with banks or business, and that was the general feeling during the obama years that, you know, regulations were going to be rammed down your throat, were going to be looking to prosecute you for everything you do. Thats not whats going on here. And the other thing they get, they get legislation. Or less regulations. I mean, bottom line is doddfrank is going to be i dont know about repealed, but its going to be watered down neil and you want to be there to weigh in on it, right . Thats the type of yeah. And you can weigh in on itbut also you can impress upon hi because hes an open ear on this stuff, what are the bad parts of doddfrank, what are the parts you get to keep. And i think the notion of a 15 Corporate Tax rate, even these Silicon Valley guys who are so leftist, they love that. Neil right. That shows you what greedy losers they are. [laughter] they would, like, completely back stab you for a tax neil theres something admirable about that. Its a little you know, its why i like them. Neil of course. Yeah, exactly. Charlie, thank you very, very much. In the meantime, is amazon taking off a little bit more than it can chew with this whole foods thing . The read into the wisdom of this deal, even if the price keeps going up, after this. Theres nothing more important than your health. So if youre on medicare or will be soon, you may want more than parts a and b heres why. Medicare only covers about 80 of your part b medical expenses. The rest is up to you. 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Youll be able to choose any doctor or hospital that accepts medicare patients. Whether youre on medicare now or turning 65 soon, its a good time to get your ducks in a row. Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. Neil all right, i want to show you something thats really interesting. Jeff bezos is very close to becoming the worlds richers man including him on the far right there, the mexican retailer, of course, the guy on the extreme left, bill gates, whos kind of owned that position for a long, long time. But jeff bezos with his Online Retail end pyre, that now empire, that now includes if this whole foods thing gets approved, is changing the landscape bigtime. We have a retail analyst whos not at all surprised, he was early on to the wisdom of jeff bezos, so maybe she can share some wisdom behind this deal. Youre the expert, i dont get. It seems to me going backwards, brick and mortar, but you argue not. Explain. Heres whats going on, hes able to see around corners when it comes to retail. So even if this deal goes through which at the moment is not that big of a deal. So 600 so the grocery industry accounts for about 600 billion worth of, you know, the transactions and revenue, correct . Neil right. Ecommerce only represents about 12 of that. For the most part, none of us are buying our groceries online. However, by 2025 its going to account for 20 of that. So 20 of our business is done via grocery in transaction is going to be done on online. Neil but a lot of this stuff is very perishable right. Neil its even all the more perishable. And to your point, us on the coast, i shop at whole foods all the time, its right down the street from my house. I deal with the entitlement all the time [laughter] but in the middle of the country, most of everyone is buying their groceries at walmart. 98 of the country is. Neil whole foods is more expensive than walmart. Way more expensive. Youre absolutely right, is everyone going to start buying whole foods on amazon now . No, not necessarily. But what jeff bezos is doing is creating the infrastructure, neil, for whats to come later on. We might even see acquisitions of bigger grocery chains because hes created that infrastructure for grocery. Neil but how will they keep, i keep going back to this dumb concern, how will they keep the stuff fresh delivering it to your home . Thats the thing. He is able to have they have those centers, right . Neil right. While they have the megacenters, theyre going to have Smaller Centers closer, you know, within the cities, maybe five or six, so that things are going to be able to be refrigerated neil pack it in dry ice. And a lot of people sell meat and the rest of it, theyve done that for years, but you pay a little extra, sometimes a lot extra. Exactly. Amazon has been able to have those razor sharp margins, keep costs very small. Theres also, they do a lot of thirdparty distribution neil right. And contributors that they work with in order to get merchandise to peoples homes. Back during the holiday, you remember that they were able to do those gifts that were able to be delivered within an hour to your home. Neil right. These are perishable items, right . They had these Distribution Centers all around the city and able to get those to peoples homes. So neil whats got to make this effective is to get it to their homes that day or just hours thats the only way to do it. Theyre not going to be able to ship it from phoenix to ohio, for example neil so why did they go the whole foods route and not a more traditional Grocery Store chain or one that is more mainstream . I think whole foods is, what, 435 different stores. I think if you look at the revenues, if you look at their bottom line, i think it was ripe for either an acquisition, i think it was ripe for an acquisition, the stock wasnt moving that much. Neil [inaudible] sorry . Neil they have 32 different types of avocado. I did know that, you know why . Because i buy avocado there. [laughter] neil do you think there are going to be competitive bits here . For whole foods . Neil yeah. I think will they match . Because if sos wants this bezos wants this, hes going to be able to get it. I think were going to see a lot more grocery acquisition on account of amazon. They are not strong in grocery yet, so i wont be surprised if we start seeing things like target as a potential acquisition for amazon. Much later neil wow. Maybe not tomorrow. Neil amazing, amazing. All right. Thank you very much. Market down, shes been right on a lot of these trends that i completely miss. But, again, im not an avocado. A lot of people are. [laughter] a lot of people. I have no idea why. Amazon in and out of alltime highs, well, obviously, to hithas point, look at a whats going on with whole foods. Obviously, someone thinks this bidding war continues. After this. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. H seadoo. Seadoo has the most affordable watercraft on the market starting at just 5,299 and up to 500 rebate visit seadoo. Com today neil all right. We are told that alexandria, virginia, Police Officials will hold a News Conference in a few minutes on the congressman Steve Scalise condition which were told improved after several surgeries. He is remains in serious condition at washington medstar hospital. We wish him well as he fights back from the horrific attack. To trish regan to take you through the next hour. Trish thank you, neil. President trumps personal lawyer, jay sekulow doubled down saying that the president is not under investigation for obstruction of justice. All this as the dow hits yet another high today. Take a look at this. Quite a rally going on underway, up 120 points. A gain of almost. 6 of a percent. On the Dow Jones Industrial average, were all over it, im trish regan, welcome, everyone, to the intelligence report. President trump getting his progrowth agenda back on track next few hours. He will meet with top Business Leaders at white house to discuss ways to modernize the