Transcripts For FBC Mornings With Maria Bartiromo 20170327

We come up with a belt that a conscious the goal of the president and we will take it and move forward with it. We are moving on the tax reform. Lets get to work. The responsible thing, lets get back to work and do what we told the voters who are going to do. We never stopped working. All throughout health care as well we will continue to make improvement. We are planning to move this on the ways and Means Committee in the spring. Maria the drama in d. C. Sending wall street futures indicating a lower opening for averages today. Investors are nervous, wondering when the details come out on tax reform trading on a sixweek low of the dow industrials down to 33 . Expect a decline of better than 100 this morning. Investors really wondering what happens now in terms of tax reform and whether therell be a similar fight on that front as there was in health care. New details on the london terrorist attack at the tear is service what app before his attack. Police cannot get to the messages because they are encrypted. New questions over privacy coming out. Uber puts the brakes on the self driving cars testing this morning after a crash in arizona. I love finish has North Carolina clinching the last five. All of that coming up this monday morning. German attack about it, pollster lee carter is here. Mr. Schultz. Mr. Shaw said that confirms media chairman, steve forbes. Great to see everybody. Good morning. Good morning. Maria do you believe tax reform is the policy right now, steve forbes . It has to be. People feel by yearend in 2018 with the elections coming out. I think they have more imperative to do it than ever before. Maria is there more Common Ground on tax reform supposed to health care . No. They agree on the tax cuts, but the border adjustment tax they keep pushing a 20 National Sales tax on imports, which would be a disaster for working families. It got to drop that come especially after the Health Care Debacle and stick with what we know is that of an untried disaster is tax. Maria the uncertainty about where this goes next. A big show had this morning. Our top story, republicans turning to focus tax reform after House Speaker paul ryan pulled the gop bill from the floor on friday. Chief of staff Reince Priebus and kevin brady talked about this sunday, urging the party to move forward. Obamacare as we know it is imploding and exploding and every other object if you can provide. Its going south and it would be nice to get democrats on board. At the end of the day, its time for the party to start governing. There may be repealed only those, but that would require a democrat senators to support repeal and that is not going to happen. Lets move ahead on tax reform. It is exciting. Its why we came here. The number one priority for the president and republicans as well as congress. Im in the field that we are the most comfortable on. Maria the wall street journal this morning reported the white house may start courting support for moderate democrats due to lack of support from far right conservatives. And your congressman lays out in. Good to see you. Thanks for joining us. So what is the password to enact tax reform . G of the time of the timeline you envision . To regular order, the house ways and Means Committee can present a bill for hearings and markups. An important Lesson Learned for wealthy experience with health care is that any member, and a rankandfile member for leadership who has an idea, there is a passion, something they want to inject in the process. They should get involved early in the process to make sure voices are heard as opposed to waiting until the end of the process and trying to find something they could use an excuse to get to know. Steve forbes was here in the house of representatives, i dont think youd be waiting until the day before the vote to talk about the border just ability tax. Maria thats a really good point. Thats a whole issue. A lot of people didnt know what was in the bill. Your party in seven years to come up with it. Are we going to see a similar fight over the border adjustment tax as a child of the Health Care Bill . Thats when the markets wonder if the entire agenda is in question. Two things i would say. With regard to the Health Care Bill, it was just over 100 pages. The process started at the beginning of 2016. Leadership had open forums for any member of the house to participate in. As part of the better way agenda. There was no reason for anyone to be blindsided by any of this. As far as the border just ability tax, that conversation has started already. You have individuals who may be had an issue with the fact that 85 of seafood is imported. How is that impacted by the border just ability tax when you cant really get the seafood from within the United States. Part of this has to do with where does the Corporate Income tax rate be . If you are not expert he would support if youre a net, you wont. But if you are a net importer in the Corporate Income tax goes from 35 to 20, for some net importers, they might be a little more in favor of it. There are a lot of other pieces unrelated to the border just ability tax regardless of whether you arent order or exporter. Congressman, steve forbes here. Why the world which bring up attacks untested sylhet working americans, raised the price of eight simple car or truck over 2000, raised the price of gasoline. Why in the world which he do Something Like that . Why are you such slaves to the cbo and why not just a straight vanilla tax cut instead of putting in a tax that will divide the base of the party. Not which you need right now. Well, something i learned attending a steve forbes for president kickoff at the waldorf in college was not to debate steve forbes on tax reform. It is just really important that for members to be able to get the impact of where 100 get spent for the net importer. Theyre supplying supplychain issues where they might be some of the products they use to manufacture from out of the country. And someone is approaching this with a very open mind. I want to learn everything about it now and i dont want to wait until the last minute so the final product is not only good, its also a good policy to get 216 votes. Into cvs for democrats will run against you raise in price for consumers giving tax breaks to boeing and ge to sell aircraft to mullahs in iran. 16 million taxfree. When you go to walmart, prices have gone up. Politically this is a disaster. Not just economically. Why go into something so uncertain . The Health Care Reform debate is a single industry. When you talk tax reform, if every industry. As far as the messaging use to the general public, you could make the argument is far difficult to do tax reform than it is health care because the fact that it does impact everyone. Why complicated unnecessarily with a brandnew tax never tried that was invented by about this economist in berkeley for crying out loud. I guess you definitely would have to have someone on the show on the ways and means ways and Means Committee who is a staunch defender of it. Maria we had kevin brady on yesterday. He was terrific in terms of laying out a timeline. The congressman, he was very clear there are positives here. The white house has not agreed to this yet. Its only a debate point. Is there any wiggle room to raise revenue ouster of the border adjustment tax gets knocked down . Youll have a battle of the way you had in health care. You have to calm the markets and people out there who want to see Economic Growth if in fact they border tax doesnt apply because there is a fair amount of pushback. Yeah, last week the house was completely consumed with health care. The week before that, same thing. As they come back to the capitol today, this would be a really good week for everyone to be able to talk to each other, asked the questions we need to ask. If having that component and that means that you cant get to 216 votes, then you are at a similar situation in which you had with health care. On the flipside, where its not the Freedom Caucus with the holdout, but it happens to be part of the minority is the best of leadership and thus advocates from order adjustability. I approach this with an open mind. I want to hear everyone out. At the end of day is not a good policy but a policy to get to 216. Train to the issue is are they going to be able to get this done in a timeline . Spin the order adjustment tax is a big issue. The interesting thing is a lot of its predicated on the dollar getting stronger. The problem with the dollar getting stronger as it has a negative impact on corporate earnings because passes earned overseas. Its not just come the ctr point, john q. Taxpayer that subset, multinationals. Asset prices will skew out that unnecessarily. From a mop its perspective will be in big trouble must make moves forward. Is the Republican Party able to be an Opposition Party or a governing party . Right now it seems like they are focused on an opposition but not getting things passed and what they want to do. Thats a big problem moving forward if they dont get something accomplished in. Maria do you need to come out with an assurance for the markets and people now questioning the entire agenda . I think the points being made about transitioning to be the party of opposition into a party of proposing good ideas than to be a governing party. Now that we are in charge, what ive noticed from my colleagues as you have almost everyone whos made the transition. 237 members of the house of representatives and ive used this number couple times, you have to get to 216 making the transition, which means if youre a member of congress, you have to realize you are not going to get your way 100 all the time. You have to be willing to compromise, negotiate, cut good deals. You dont have to compromise all of your principles when you are used to always voted no on everything. It is a little bit of a transition to be able to start voting yes. But for the markets, for the american public, they want to see that trees to get up on the board. Will you go for tax reform, infrastructure, strengthening military, taking care of veterans, when he do but wings on the board. Maria we will be watching. Take so much. Congressman leaves out and join us in washington. New details on the london terrorist attack. Using the messaging app that is before the deadly rampage. They cannot get to the messages because they are a group did. The new question this morning over privacy. Hitting the brakes, cougars suspending tests on fostering vehicles after one was involved in a collision. Details coming out. Maria welcome back. British police make another arrest this morning in connection to last weeks terrorist attack in london. Warren simonetti with details. Good morning. The 30yearold birmingham a total of 12 people have been arrested as part of the investigation thus far. All but three have been released. Meanwhile, authorities now say attacker cody massoud who youre looking at, sent a message using an Encryption Service to wipe out which left four people dead. A top official in the u. K. Calling on facebook which owns the actor was the con tent at the message and its intended recipient is part of the investigation. Meanwhile, bluebird putting the brakes on a self driving car program after one crash in arizona on friday. The accident happened in tempe after the driver of a second vehicle made a turn without yielding. It was not the fall. Two drivers sitting in the front seat of the uber power which last the self driving volvo on his side. As a result, its granting drivers in arizona, pittsburgh, pennsylvania and san francisco, california pending results of the investigation of the crash. Apple is going to big win in one of its toughest markets after Chinese Court overturned a prior ruling against the tech giant said iphones thanks in bias did not infringe on Design Patents held by a defunct local manufacturer. The ruling comes after ceo tim club visited china pledging further investment in the country. Train to thank you so much. Apple is incredible. The victory that apple keeps happening over and over again. Your thoughts on the big win. I think it helps make sure when you go in the Marketplace Committee will not get trashed by people trolling and trying to find ways to see you and shake you down. Maria still come you dont have a lot of competition in apple stock. A predominant market share. They continue to innovate and maintain. Im curious when you see Something Like the wise path, is not an issue for apple in facebook and others who are not releasing information on encryption related terrorist attacks. I wonder if thats a problem for them Going Forward now, too. Pose terror they have to release it. They did in san bernardino. They cant get to that right now from the london terrorist. Well take a short break or become back on the futures indicate a loss at the top of the trading day after Health Care Reforms stall on capitol hill. The Administration Says its turning its focus on tax reform. What needs to be done to restore Investor Confidence on what the markets by him. 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Does your bed do that . Only at a sleep number store, where queen mattresses start at just 899. And right now save 400 on our most popular mattresses. Go to sleepnumber. Com for a store near you. Maria welcome back. We are watching markets this morning. The dow industrial expected to be done about 140 points after the help care belt was pulled as broad uncertainty over the rest of the agenda. Mitch rachelle is with us. Would he think the president needs to do to boost her confidence they are not going to go up against these battles and ultimately not get anything done. As some sort of the win. What happened last week the market selloff because traders were seeing what was happening, didnt like the prospects something would get done. Friday was somewhat baked in, but right now looking for a win. They look for momentum and to get the optimism that. I feel like both measures will be very important to to Economic Growth. There is some Common Ground when it comes to cutting taxes. The border adjustment taxes in issue. In the previous segment the real challenge is the hypotheses is baked around the stronger dollar. We could have inflation and the models that inflation will help pay for it. I need a bath when i say that to you. Maria whats the point of the border adjustment tax . It would raise a trillion dollars over 10 years. Kevin brady said it was then that they needed to raise revenue. That wasnt the point. They have a certain amount of projected revenue over 10 years of devastating 4 growth it done in the tax cut will do it. The other thing they are hung up on his trade if they think this will help her socalled trade allen and they dont realize when you disrupt Global Supply chains which are an incredibly complex as companies export and import parts to make a product than the typical car will go up 2500. It is not just the border border. Maria especially in the out of business. You make a really good point. The auto business has component that may go into the car. Across the border six, seven times. Theyve got components that have to go to mexico in the seekers over the border again. Its back and forth. Come on. They can come up with a fee for that. They are not going to charge seven times. This creates huge complexity, huge uncertainty. Why do that when you have to get a tax cut through to get the economy moving. Is other places they can do to generate revenue. They are talking about cutting and cutting programs that wont necessarily have an impact. The president talks about draining the swamp. Alter for ways to raise revenue. This is political suicide in many ways. No way this will get through. John kennedy and Ronald Reagan demonstrated. You dont tie yourself to a bunch of cats. Pass the tax cuts and enjoy the challenges and problems did speak thai cuts now in terms of budget cuts come your not going to get it. Do the big hill. The key thing is not washingtons revenue. Get the economy growing. When the economy grows, a lot of things are possible. Maria the president promised substantial Economic Growth. It may not be as big as he says. The National Association of business economics endsinglequote 2. 3 this year, 2. 5 next year. These are both below. You can look at this era obviously because they said 4 and 18. Where do you think . Will they get to 4 . We have to get the rates lowered in the economy jumpstarted. The one thing suspiciously silent and other better silent and other Better Things to trillion dollars on short but bring back into the United States was some sort of a tax amnesty to pump the money back into the economy to help jumpstart. Maria one of the issues of the Health Care Plan as they start a trillion dollars lower. They wouldve been able to take 880 billion of taxes out of obama cared and that was going to be a starting place for tax reform because that was an enormous tax cut in another south. They do. All the more reason than throw away the rulebook, go for a massive tax cut, reduce the rates and get the corporate rate down to 15 and say the heck with everything else. That economy next year will go more than 2. 5 if you have a massive tax guide and people start investing in americas two another important point. They get retroactive to january 4th of this year. Maria kevin brady asked him and he said to me, that is what we are aiming for. He continues to say that is what we are aiming for. Ps not net. There is still a chance it could be rich or active but i do question not. Sometimes a strategy is based and then negotiate on something that comes back and get the rest of the past and thats the thing to do. They have to ask for more. The jumpstart now. Youve got to make you rich or active. You are not connected not Growth Numbers if you dont make you rich or active. Maria stephen said they said it would be in a team, not 17. Are they taking exit patients now . You have to know the rules are 2017. Maria all great points. Take a quick break. The escalating side again the islamic state. The latest in the war on terror, not good plus rescue efforts underway following an avalanche in japan. Multiple people are feared dead after being found with no vital signs. The very latest on their conditions, not coming up. At Cancer Treatment centers of america. Start with teams of Cancer Treatment experts under one roof focused on the delivery of precision Cancer Treatment. Start at one of the Cancer Treatment centers of america hospitals near you. The evolution of cancer care is here. Learn more at cancercenter. Com experts Appointments Available now. Maria welcome back, good monday morning, everybody, thanks so much for joining us. Im maria bartiromo, it is monday march 27th, top stories right now, 6 30 a. M. On the east coast. Drama in dc takes a toll on wall street markets, futures indicating a lower opening. We are in the red firmly trading at a sixweek low. Investors turning to tax reform after healthcare reform bill was pulled and theyre not as confident. Take a look. Markets down about twothirds of 1 . S p 500 down almost 1 , nasdaq down three quarters of a per can he be percent. European indices across the board. Three quarters of a percent in london. Tensions at home as well. The war on terrorism continuing abroad. The u. S. To send nearly 200 more troops to the middle east. Latest on the move to beef up security on the region and where specifically. New details on the world of words between the white house and Intelligence Community. Republicans are throwing support on President Trump and surveillance claims. The people in the trump transition were unknowingly surveillance and illegally unmasked documents which is being alleged out there, i think its a big problem and ultimate ly President Trump will be proven correct. A matter that has nothing to the with the fbi investigation, then i dont know what they can talk about. Maria the very latest on the investigation is underway. Marir a suspect in a nightclub shooting that left one person dead and 15 others injured. More on this development as it comes up. United airlines under fire this morning after refuse to go allow two teenagers because they were wearing leggings. One Atlanta Hawks fan flying high this morning, the wild dunk that had the crowd on its feet. Coming up. [laughter] maria first, reinforcements on the war of terrorism. According to fox news source, u. S. Is sendly sending roughly 200 troops to syria. Troops are gaining ground in mosul, hes predicting a victory just in the coming weeks. Defeating the military. They will try, so thats where we need the efforts of others to flush them out in syria and other places. Maria joining thus morning former cia analysts and center for Security Policy senior fellow, great to have you on the program. Good morning. Maria how would troops help flight the fight against isis . The new deployment seems to be administrations to destroy isis and help iraqi army to retake mosul. How it relates to largest strategy is still unclear. The administration has not revealed strategy. We will see something thats more regional troops and far more troops from nato. Hi, its mitch, you have you have 200, whats behind to 200, are we going to get to fourdigit numbers of troops . Maria good idea, how do you come up with that number, right . We are looking at a way to fight isis in the mosul area but i think that the strategy presented to the president probably involved a number of options on how many more troops he may want to add to the area and the president does not want to get involved in the war and how can we get other nations to help us. Maria the House Intelligence Committee has postponed a hearing originally scheduled for tomorrow on the investigation into Russian Election meddling, whats your take on this in this will be closed, behind closed doors so that they can bring in intelligence that was, i guess, secret after last nights after lengthy public hearing, a move thats backed by several Committee Members including what congressman. When it becomes to congress, we ought to have a public hearing. A hundred times those two witnesses said they could not answer the question in that setting. Why in the hell would we go back to that set if the witnesses cant answer the questions . Maria that is why its a closed session. Fred, you wrote on oped on this friday, there should be no more open hearings on this issue. Thats right. I was on the House Committee staff for five years and i was outraged by what happened last monday when democrats read questions of allegations and unfounded allegations, they knew the witnesses couldnt answer but just to get things on the record and to attack President Trump. Maria, this is making a mockery of intelligence oversight. This is supposed to be a serious committee to deal with issues of life and death for a national security, the democrats have no interest in legitimate bipartisan oversight when it comes to this issue, i say no more open hearings. Maria wow. Lee this is an issue thats going to continue to play a donald trump much like the email scandal plagued Hillary Clinton and we dont know whats inside and people continue to question it. How do you think the president should navigate this if the questions will be coming up and theres no evidence . You know, it wouldnt solve it. First of all the House Intelligence Committee is a select committee. Second of all, if there was a committee the democrats would stack it with antitrump people. In the end theres going to be a report from several committees, theres going to be a majority report written by republicans and a scathing minority dissent. But still, how does the administration communicate to the American People that this didnt happen, you can trust the administration, that there was nothing nefarious even if the report happens that way, dont they have to communicate in a way rather than being combative . Even though the majority is mostly written by the republicans with clear evidence with clear argumentation, thats going to make a difference in the debate. Frankly, the media is never going to believe a report thats not i dont mean fox. Thats not bashing President Trump. So i think we have to do the best we can, we have to ask congress to work as hard as we can to be objective and get out the best report possible. Maria yeah, obviously they didnt answer the questions when it was in the public hearing which is what tray had to say, lets move to a different kind of venue. Whats your take on the politicization of the agencies, fred, how quickly can that be turned around . So many intelligent agencies and people undermining the president because of politics . Yeah, inside government. I think thats certainly going on. He has to put his people within the Defense Intelligence agency. Maria a lot of jobs. More people in the cia. Maria a lot of jobs. Theres over a thousand jobs that have to be filled. Not all of them have to be confirmed. Some are political appointees that do not need to be confirmed. Maria this is a big issue. Until we actually see President Trumps team on the ground, who is to know whats leaked and how they and the Justice Department cant operate properly until they get the people in there. Leaks coming out of the Intelligence Community is not good for the u. S. Brand worldwide. You cant have intelligence agencies undermining the elected government in the United States. Other nations dont trust us if they see leaks. Maria good point. Coming up, United Airlines under fire this morning. Outrage after two girls were not allowed to board a flight because they were wearing leggings, apparently, the Airlines Response coming up. We will keep an eye on futures this morning indicating a broader opening. Dow industrials expected to open down better than a 100 points, back in a moment with e trades powerful trading tools, right at your fingertips, you have access to indepth analysis, level 2 data, and a team of experienced traders ready to help you if you need it. Its like having the power of a trading floor, wherever you are. Its your trade. E trade. Start trading today at etrade. Com maria welcome back, its all about policy and markets this morning. Futures indicating a sharper lower opening this morning. People are now questioning the president s agenda and whether or not washington policymakers will be able to shift the focus now to tax reform and be successful in doing so after the healthcare bill failed. We are watching that this morning. Investors are selling first and thinking later. A turnaround could be in the wakes for viacon. The companys new ceo focuses on the paramount picture studio along with flagship networks. Up 22 year to date. Much better start to this year than last. Tesla branching out. Companies will start taking orders for solar roof tiles, that begins next part of part of partnership with panasonic, details on the tiles none none yet but we are still watching the stock down. Eight students feared dead after an avalanche in japan. Lauren so sad, maria. They were at a ski resort north of tokyo when the avalanche struck. Japanese News Agencies that the boys appeared to show no sign of life. Other eight people suffered moderate to severe injuries. Ski season at the resort was over and the area had been hit unusually hit with heavy spring snow. More than 60 students from many other high schools were taking climbing lessons with the avalanche happen. Police searching for suspect after deadly nightclub shooting in cincinnati over the weekend. One person killed and 15 wounded in the shooting sunday morning. As many as 50 shots were fired after a dispute involving several people. Well, iran going tit for tat with the u. S. Sanctioning 15 American Companies in retaliation for restrictions that the Trump Administration imposed on Iranian Administration and citizens allegedly connected to missile program. The new strain could hamper peacemaking efforts. Iran is deeply involved in sixyear civil war and key player with the u. S. On working with a political solution. United airlines under fire by standing by decision to prevent two teenage girls because they were wearing leggings but the girls were not regular passengers, they were flying as special flyers, flying free or discounted rate. The girls did not meet the dress code for travelers added that if the girls would not have been turned away if they were paying customers. Well, this incident obviously set off social media storm when another traveler watching the drama unfold posted several tweets about it and then everybody else chimed in, maria. Maria do we have a picture of what the girls were wearing . No, ive been looking for one. Probably regular yoga pants, we pay for our tickets, thats the difference. Maria right. I was one of the people that chimed in on social media. Maria i love reading the tweet. Lee if they only understood the facts of the situation nobody would be outraged. Its one of those issues, do you really want this kind of a common sense. Why give yourself a black eye over Something Like that. Maria lets get a picture of what they were wearing because it sounds absurd. Lee they are teenage girls traveling and this is going to make united seem less friendly to customers and not a good thing for them. They cant just say its travel policy for people who travel on buddy passes or whatever el. Its ridiculous. Maria slogan fly the friendly skies . Not. [laughter] march madness reducing fans to tears last night, the blow fish is crying tears of joy, back in a minute what if technology gave us the power to turn this enemy into an ally . Microsoft and its partners are using smart traps to capture mosquitoes and sequence their dna to fight disease. There are over 100 million pieces of dna in every sample. With the microsoft cloud, we can analyze the data faster than ever before. If we can detect new viruses before they spread, we may someday prevent outbreaks before they begin. Maria unlikely that you selected this final four in ncaa brackets, jared max, march madness living up to its name this year. Jared good morning, maria. The ending of yesterday North Carolinakentucky game cheered maddens. Final seconds, carolina up by 3. From 3, bang, tied game. 7 seconds to go but carolina turns it right around. To luke may who says mother may i, yes, you may, North Carolina 75, kentucky 73. North carolina goes to its 20th final four and gets who is joining them, in my mind im going to carolina. Game of South Carolina had never played in a round of elite eight, now final four for the first time yesterday against florida. Nip and tuck for most of the game. 14lead changes. Ten ties, but in the second half florida lost touch. 014 the gators, 26 including go ahead free throw. South carolina wins 77 to 70. Remember when darias sang, the dolphins make me cry, so overwhelmed with emotion yesterday, he was drawn to tears in Madison Square garden watch watching final four. South carolina will play in saturdays First National smi final in arizona against gonzaga. North carolina favored by 4 and a half will play against midwest regional champion oregon, guess this, 19 million brackets played at espn 657 correctly picked this final four. We all know if we want an honest answer, we ask kid, right . 6yearold brody, son of indians general manager said a little too much. Indians have been talking about a longterm deal. Any phone calls lately, who is he trying to get because he wont tell us, can you . Hes trying to get to play for seven more years. [laughter] jared at that point broadcaster basically said, i dont know if we should be talking anymore. Youre going to get in trouble. They say the darnest thing. Maria i love this guy. Jared end to end. Hops on trampoline and turns into breaking two as he starts going down to the ground and doing break dancing moves and looked like michael jackson. [laughter] how do you prepare for a moment like that . Jared they have the end zone celebration all set. Maria that was a bust. Nfl commissioner sent oaklands mayor a letter and owners scheduled to make the decision at their meeting this afternoon but jared, what do you think . Jared i think we will have a vote and i think we will have a positive vote. I think we are in pretty good shape. It looks like the oakland raiders, an institution are going to move to las vegas. Funding appears to be there for the stadium in las vegas, theres an nhl team which is going to be moving to las vegas. Times are changing in sports. Something for a long time has been a feared because of the potential of [laughter] jared generally you cant bet on those games. Teams going into vegas, think about that. They may go in and never come out. Lee low players are going to have fun. Jared home field advantage. The presentation will be made a little bit later today, 1 00 p. M. Pacific time. We will watch it. Take a short break, when we come back, serving up springtime, additions to the menu, new drinks and doughnuts. Next hour here to folks everywhere whose diabetic. Nerve pain shoots and burns its way into your day. I hear you. When that pain makes simple errands simply unbearable. I hear you. I hear you because my dad struggled with this pain. Make sure your doctor hears you too. So folks, dont wait. Step on up. And talk to your doctor. Because you have places to go. And people who cant wait for you to get there. If you have diabetes and burning, shooting pain in your feet or hands. Step on up and talk to your doctor today. Maria welcome back, good monday morning, everybody, thanks so much for joining us. Im maria bartiromo, it is monday march 27th, your top stories right now 7 00 a. M. On the east coast. A shift in focus, the white house setting sight on tax reform after republicans fail today get enough votes to pass healthcare reform friday. Rar i actually i actually think the president is more embolden to tick to convictions that he layed to the American People for decades and hes not going the turn his back on his core principle. We are getting ready for big game, tax reform. Ways and means republicans have spent five years getting ready for this moment. Maria all the drama in dc slamming market this is morning. Futures indicating a weaker opening for the broader averages as investors now question the president s agenda and what will get done. Take a look at europe indices, down a quarter of a 1 , across the board downers. Opec has warned members to comply with production cuts or prices will stay low. A sixth grader cited for trespassing for trying to catch the bus on time. Neighbors complained about shortcut to school. Spring takes dunkin doughnuts. All the stories coming up this morning and joining me to talk about it pollster lee carter and mitch and forbes media chairman steve forbes. Great panel today as we are talking about tax reform and this is the priority now apparently but what do we need to see to believe that, steve . What you have to see is them put out an actual bill that takes out the bord adjustment tax so you dont have unnecessary controversy. Go for a pure vanilla tax reform. Emphasize growth for the economy. Maria a lot of people are questioning why health care was number one any way. Republican leaders are looking to regroup and even reaching out across the aisle. We have the budget coming up. I think its more or less a warning shot that we are willing to talk to anybody, we always have been and more so now than ever its time for both parties to come together. The easiest way to make tax reform fail is to not go bold, to not try to leapfrog america to 31st into the world back to top 3 or better positions so we can compete and win anywhere in the world. Maria the Administration Says its ghoul is to push tax reform through by august, mitch, does that sound realistic to you . What does the president need to do to get this passed . If we make it uncomplicated it can get done, the more complicated every time you make it complicated its going to lower the odds and the market wants it done. Maria one thing that he called the complicated was the border adjustment tax, lee, and thats in the house plan. Lee i think its got to go, its got, got to go. Its part of the reason why President Trump was elected because he promised he was going to make great deals like weve never done before, if he doesnt get a deal on taxes and get it done quickly, people are going to lose faith in the president and i think he has to know that right now. They have to put something forward thats going to get passed. Maria at one point during the process, steve, i thought that the president was warming up to border adjustment tax, kevin brady say that is the border adjustment tax would actually a more fair environment. I have to get your reaction. This is what he said yesterday. I think another point thats important to the president is potential for a border tax that we start evening the Playing Field hes not backing off of that. We want to simplify the tax code which is what border adjustment does. Maria just to be clear, there are some people who believe a border adjustment tax will be 20 , 20 tax on import which lead many people, steve forbes, if youre going to charge 20 at the border, im going to raise my prices. The average car today is 35 40,000. In the 30,000s, that will go to 40,000 and some people are worried. At a minimum 2 to 5,000 for a car. 2500 is the average for all of them small and big and then in terms of level Playing Field, other countries have a value added tax which is a super sales tax, so we are going to be make the same mistakes as they made. Theyre growth rate sharply declined from what they had before. So level Playing Field in their mind make the same mistake they make, dumb thing to do. Maria thats why they are defending this. A hundred countries have either border adjustment tax or lee if a hundred countries were jumping off the bridge, would we do that too . Maria they are playing catchup. Lee a level Playing Field for who, for companies or individual consumers. Democrats could have a field day with this and all of the talking points that you were talking about saying youre going after the average person, youre going to raise prices of automobiles, youre going to raise prices of all the things that we are consuming all of the time. Who is the level Playing Field helping . The super sales tax in europe slams consumers specially since the hidden tax, this is a hidden tax thats going to slam consumers and they think thats going to grow the economy, they think thats going to get trumps 4 growth rate next year. I dont know what col aid they are drinking. [laughter] maria the Retail Sector is in up arms as automakers. Maria they go over the border and have the fabrics come in, go back to make the item and then another time over the border. Again, retailers will raise prices on items. They have to. Look at the margins, they are raiser thin as it is. Retail industry is taking it on the chin, now you take a lot of profit, they are going to be screaming bloody murder. Maria what do we do then . The republicans are going with it, thats in their plan, theyre going to have another fight the way they had in health care. Theyre going to discover their caucn w and start to when people start to see ads of about a 20 sales tax, they are going to come back and say, what are you doing and so youll have the same split like on health care and the white house should practice humane act, this is off the table, another time. Maria the other thing is thats why he was elected. A lot of people elected President Trump because of his promises on tax reform. Lee thats right. Maria if we are going to see a higher tax on the form of border adjustment tax, thats completely against what he campaigned on. Lee completely. So thats like a magician trick, David Copperfield in las vegas. Maria how do you bet that the dollar is going to go up . Who the heck how markets are going to react . Look at what happened after brexit and what happened to their british pound, it went down 8 to 10 . There are forces that make the dollar move around the pla nit that have nothing to do with border adjustment tax. Its so ridiculous to say you wont feel the pain when you pay more because maria the dollar is up. I have to get your take on this. The president is looking to crack down on government stagnation. Unveil a new White House Office today, they are calling the White House Office of american innovation, led by his soninlaw jared kushner. The office focuses on technology, will work with Business Executives like apple ceo tim cook and bill gates, your reaction. Listen, its very corporate, you know, one of the things that the president talked about was sort of bringing business mind set, its not uncommon to have an office dedicated on innovation and whats next and i think that thats what the president is trying to do. Lee i love it. Maria you like it. Lee we wanted the business mind set to fix the problems and we are going to bring in big business and Big Companies and people have the solve challenges and apply it to the government. Why not do it . Makes sense. The key thing a follow through of bureaucracy that is going to be long after office and see political wins all of the time. On deregulation they have to get the office of management and budget to hammer down enforcing the rule that regulations have to do cost benefit analysis and hit them on it. Its nice to have the office but a good way to get that efficiency and start getting rid of actual agencies like the labor department, like the most of the energy department, commerce department, ftc. If you dont, its like weeds, they come back again. [laughter] maria good point. We will take a short break. Cockroaches. [laughter] maria why an 11yearold was cited for trespassing on her way to school. Out with the old and in with the new. Spring and summer additions to the menu. Weve got them for you, back in a minute maria welcome back protests against government russia in moscow and other cities in russia. Lauren simonetti with details and Police Arrests too. Lauren thousands of people rallying calling for top officials to resign. Dozens of arrest reported on what appears to be the biggest protest since the massive 2012 demonstrations over allegations of vote fraud. The state department is condemning the arrests which include an Opposition Leader who is outspoken critic of russian president vladimir putin. Here at home investigators say a missing teacher and student from tennessee had a romantic interest in one another. 50yearold ted and 15yearold Elizabeth Thomas have not been seen since march 13th. Investigators say the pair wrote emails and saved them as draft in email account and oncalledly were caught kissing in a classroom. Has been added to tennessee most wanted list charged with aggravated kidnapping and sexual contact with a minor. Well, massachusetts sixth grader 11yearold autumn, neighbors complaining cutting through their yards to get to and from bus stop. Autumn faces time in jail. The Police Arrived at her door and questioned why she wasnt informed by neighbors or school. Coconut creme pie coffee and butter pecan coffee is back. Brandnew doughnuts. Peanut butter and glazeed with crushed pretzels and paired with butter pecan coffee. Any takers . Maria how much sugar . Lauren i didnt look and i dont care. [laughter] maria any of these appeal to you, mitch . I got my son coming back from college that peanut what was it called, lauren . Lauren Peanut Butter croissant one. He liked it. [laughter] maria does it have as many calories as the croissant . You take it and multiply it by two. You dont go to dunkin doughnut when youre on a diet. Maria fair enough. Opec can be considering more supply cuts. Efforts to reverse cuts next. How long the statute is expected to remain in new york city . Back in a minute anything worth pursuing hard work and a plan. 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The guy says you picked the wrong insurance plan. No, i picked the wrong insurance company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Maria welcome back. If we close lower again today by about 100 points, we are looking at the worst month since january 16. As investors question whether or not the president will in fact, be able to execute his agenda given the failure on health care on friday. Oil under pressure today. Thats concerns after opec warned members to comply with production cuts or else they will continue to watch prices stay low. Joining us right now steve, good to have you on the program once again, is this justified the decline that is we are seeing . Absolutely. And we are, maria, at the make or break point. As i was here last week. Oil in new york 47. 22, 45. 32. Thats a key area of technical support. We have to hold it otherwise we risk a flushed down towards the 40dollar psychological barrier. So to answer your question with regard to justification, absolutely because what we have seen now was well signaled. As i tell clients in daily report that, indeed, with regard to opecs decision in november, what has happened with u. S. Production, u. S. Producers have put 600barrels more oil on to the market today than they were back in october prior to opecs announcement, so to a great extent u. S. Producers have offset this production and when we look at the producer and what theyve been doing, rig counts, Oil Rig Counts in the u. S. Have doubled since the spring rising in 10 out of 11 weeks, short interest, that is the amount of futures contracts that produce forward remain near record highs. If only sells a future contract when they intend to offset contract, the signal is there that u. S. Production is high and it is going higher. On the other side, wall street bought in opecs rhetoric n november and december wall street speculators when on a buying spree and went all in betting on higher oil prices. They were wrong. In fact, that point back in january for every one dollar the bearish speculator. Maria yeah, i want to get the panel involved. We have more policy decisions out of the administration that would likely dictate markets. The administrations approval of the Keystone Pipeline, you would think that as we tap into the Energy Resources of this country more oil in the Global Market means prices come down. I think steven said that too we are at a historically high level of inventory of oil so we are just going to continue to underscores, you better get the economy growing and global economies growing or oil is going to pile up. Maria in other words, youre going to need the demand. Yeah. Maria thats a really good point. One of the things that low prices does for oil it does create demand because people wont drive the car but when prices go down. Maria they wont buy the suv. For sure. The administrations approval ff the Keystone Pipeline . Of course, im all for it because obviously what it does is it creates the whole change in animal spirits and as the saying goes, capital is going to go where its welcomed and going to stay where its well treated. With what we saw during the last eight years with the political football that keystone was turned into, this was a nobrainer decision made in obamas first term but dragged through second election and ultimately killed. That was the clearest signal to our industry that capital in the oil and gas, the hydroeconomy was not welcomed and with the pivot with the Trump Administration and improving keystone excel, decision sitting on a piece of property in pittsburgh, shell had the option to build a cracker six years ago, they didnt make the decision until fairly recently. Thats going to put 6,000 construction work toaster work immediately and ultimately hire up to 700 people in that part of the state. So we are seeing a change thats its okay to be in the oil and gas industry. Capital is welcomed and will be treated well and its a boom for the industry and ultimately boom for the u. S. Economy. Is that something that you expect to reverse, rather . Absolutely. It goes into the adage that the fact that we havent discovered any oil. We didnt discover oil in 80s and 90s. Pumping up to 150 a barrel and now you have a problem of too much oil. So, of course, with the pullback that wife seen over the past two years, there is going to be that concern with the pullback but we just had a major discovery once again in texas, another one in alaska when we got oil back up into the mid50s, all of a sudden we are starting to look for it, yes, indeed, in the next two years i do expect it to reverse. Lee one of the things i am hearing from voters, so much of the policy is helping big business not necessarily the consumer, not necessarily individual, when they see the pipeline going through, thats going to be great for exxon and shell and the Big Companies but what does it mean for me, youre talking about the border adjustment tax, how do you help people understand that this is going to benefit individuals as well as Big Companies . Fair question and lets go back and look at the state departments Environmental Impact study on the keystone excel. In the shortterm the benefits are going to be on average the the creation of 42,000 jobs, 4,000 for the construction industry, thats going to create 2 billiondollars in income taxable income. Thats going to be in a lot of the counties tax base is going to double n some of these counties as the construction camps have built and as the retail taxes increase so it is a Multiplier Effect that, yes, big business, but let me big business is not this unknown entities. That means a lot of people work for big business and they all benefit and the Multiplier Effect every one job in a typical heavy industry for every one job directly related to a particular project you only see the addon effect to service those jobs. So it has a maria thats a nice return in investment. Where do you expect it by year end . By year end certainly im going the stick by mid 40s on the low end, high 50s mid50s on the high end, certainly i like it i like it right around 50 here. As i said in the near term 4745, has to hold, if it does not hold, specially at this time of the year, guys, crude oil demand at its weakest. In the next couple of months we are going to add one and a half Million Barrels of demand to the market by the time we add to june or july. Oil cannot rally here might lower expectation of 45, 46 would have to be revisited because we will probably see dollars back below 40dollar handle if opec does not get act together. Maria all right. Mid 40s, high 50s, kind of a punt but i will say 50. Maria steven, we are happy you made it. Coming up next capitol hill looks to move on tax reform in the wake of the healthcare drama last week. What it means for the rest of President Trumps agenda straight ahead. We are watching this morning, its all focused on policy. A selloff this morning on stocks is what we are expecting after the aftermath of healthcare bill being pulled on friday. We will see if markets will buy into tax reform is happening quickly. We will be back in a moment opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. Maria welcome back. Good monday morning. Its monday, march 27. Healthcare fallout in our Nations Capital the failure to repeal and replace obama care leads to tension the Republican Party. I think the house moved a bit too fast. Eighteen days is not enough time for legislation. That actually fits the familys needs not some one side fits all mandate. The focus now turns to tax reform. The drama in dc. We will see a lower opening for the broader average. Trading at a six week low. In europe similar stories. Stock is selling off this morning. Three quarters of a for the ft 100. More trouble this morning. The latest as they seek a warrant for her arrest. In a scare and they air for prince williams helicopter. It was a near miss with a drum. Have beauty and the beast was able to the mastic to the box office again. The second straight week. Today in washington. Texas congressman kevin brady the chairman of the house ways and Means Committee joined me yesterday to talk about the plan now. Parties our growth, a build not built to punish people. We want to grow that u. S. Jobs wages and economy. We want a tax code so fair and simple that nine into ten americans can file using a postcard style system. We decided since this is just once we have this opportunity we can go mediocre. We can shoot for the middle of the pack. We have to be very bold and thats why these provisions that we are recommending recognize how our competitors are beating us today. He is tired of American Workers and companies having to fight with one hand tied behind their back. That is exactly what it achieves. Over the way that tax reform looks. That is a battle whether its the deductions the mortgage interest deductions. What are the odds that all of that battle leads to failure and you dont get this done either. All of this is difficult thats why tax reform only happens once in a generation. Everything that drove the reforms has recreated itself. And the american republicans are just sick of this. Great ideas from lawmakers and have a president willing to lead. I will tell you the odds are greater than ever at this year to pass tax reform. Will be retroactive to the beginning of 17. We want growth on day one. We want to be able to vault america back into the lead and keep us there for decades. Robert, its good to see you. Maria we are having a discussion on tax reform today how do you see it. I think he is a bit idealistic. I dont think its can it be so easy at all. Its just not gonna happen. It will be deemed much to her texan is texan us especially you will see retailers just lobby that until theres no tomorrow. Steve may have a different view on that. And then i think is just really hard. We will see a tax cut i just dont see tax reform happening and if we do they should just focus on Business Tax Reform. Then i can get business and personal done this year. I think that Business Tax Reform. It will drive the repatriation back. I agree with brady people want a simplified approach and process we should not be the highest tax country in the world. When you start getting into personal tax cuts thats a whole different thing with charity and mortgages. Its just a different debate. If we could have every senator get in line and get taxes at 20 and have it up and down vote on every loophole we have. You would not get them in line. Its just too difficult. Theres 800 a hundred subcommittees in congress. This will continue every day until the markets belief markets believe that there is some compromise or some Common Ground that relates to tax reform. Unless we see something get done. You can have to go small this carveout Corporate Taxes. And the other thing is who is going to negotiate right now with donald trump will be the Freedom Caucus or will be more likely democrats. When paul ryan walks in there and said hey i have a really good idea its called a border adjustment tax what kind of an audience as he can have especially what happened in healthcare. 20 sales tax they can get a bill through. Bad politics. On the personal side their neck and have a massive reform they will just swallow hard and get a rate cut. They have got to get a cut through. I looked at eight years as president obamas advisor on tax reform. Both sides wanted it. Therefore had to get the deficit to be able to take that step forward. I will remember it wasnt 20 at 16. In the minute i have to be revenue neutral you could it get things passed through the committee. Why hang yourself up. What are you just plug in. 4 growth. You can have it next year. Maria in 2018. Im old enough to remember in the early 80s that they were saying we to have a long. Of slow growth. The economy grew 7 . Number one competing desires to cut tax rates. Number two. The top 1 . In the middle of the country these are the three things that the journal points out today. Weve have this debate. It was like one against four. What i would say is its the whole debate. Steve is a very supplyside driven progress. Very reaganomics perspective. If youre brought up in the 80s. Your reagan democrat. The u. S. Was everything. China was the minimus back then. Is totally different today. I just think the idea of trickledown economics and comparing it to the 80s is not the same today. Steve and i have a respectful debate but i think that supplyside perspective i dont think will work. December the tax plan the white house is driving. Its really Steven Mnuchin the treasury secretary and gary cohn driving tax reform. Where on the Health Care Bill it was paul ryan and company. It is articulated in the blueprint. More on the moderate side or for a border adjustment tax. I think we have a little disagreement with this. Its just very difficult to see everything we have. Weve not have Business Tax Reform done and god knows how long. Weve trillions of dollars overseas stuck there. That ends bipartisan. You get into the 1 versus the middle class. You dont pay tax at that level. Yet to give them some release. It hit smile business owners. I would includes Small Business as someone who has it. I just think the overhaul is tough. You have the debt ceiling. There has to be a smooth ride. That cannot be one of the huge debate that gets us off the track on getting tax reform done. Will continue to unpack it. Robert wolf thank you for wayne in there. A drum came within near feet of an air ambulance regularly piloted by prince william. Beauty and the beast dominant in theaters. i moved upstate because i was interested in building a career. I came to ibm to manage global clients and big data. But i found so much more. its really a melting pot of activities and people. applause, cheering new york state is filled with bright minds like victorias. To find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. I just had to push one button wto join. S thing is crazy. Its like im in the office with you, even though im here. Its almost like the Virtual Reality of business communications. No, its reality. Introducing intuitive, one touch video calling from vonage. Call now and get amazon chime at no additional cost. At angies list, we believe there are certain things you can count on, like a tired dog is a good dog. [ whimpers ] so when you need a dog walker or a handyman, you can count on us to help you find the right person for the job. Discover all the ways we can help at angies list. Because your home is where our heart is. Maria welcome back prosecutors in south korea now seeking to arrest the former president and criminal charges including bribery and abuse of power. The court well now decide whether it will issue an arrest warrant after setting the evidence. He would be the first south Korean Leader behind bars since two former military dictators were there. She was removed from office earlier this month. After the Constitutional Court upheld the impeachment. An air ambulance involved in the near miss with the drum. The helicopter missed the drum by chance. Prince william was not fine the aircraft at the time of the incident but the air ambulance have thrown flown it repeatedly. The pilot of the drum was never found. She is hit at she is here a bit longer. The artwork has been scheduled to be taken down next week but city hall has announced the new york mayor will allow the broads bronze figure to remain until february. The 50inch statue has a attracted crowds and politicians. Once again the tale as old as time tramp at the box office. Shes back come into the light. The live action picture remains number one ranking in another 88 million over the weekend and grossing nearly 700 million worldwide. The new Power Rangers movie. Neck it and down into third place. The scifi horror film called life took fourth place. By the way, if anybody sought beauty and the beast disney has seen such success is now working on 12 others including one for next year. Maria thank you lauren. I will take a short break. One a Long Island Police officer made history. The inspiring story of the marine veteran was one of the first double deputies to be a fully active Police Officer. [vo] quickbooks introduces jeanette and her mobile wedding business. She travels far and wide to officiate i dos. And quickbooks automatically tracks those miles. She categorizes with a swipe and is ready for tax time. Find more than 4000 in tax savings. Visit quickbooksdotcom. Wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong insurance company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. One of the great heroes is taking on a new role as a local hero. He is a marine veteran and one of the nations first double deputies to become a fully active cop. He graduated from the Police Academy. After excelling in at rigorous training program. Can you talk to us about it. The second marine division. On my first two are which is operating in your freedom we were doing a night raid we were told the Taliban Forces might be there looking for any type of idaho making a material. We were told the building was clear and you could go ahead and proceed with the mission. Having my team set up on the rooftop we were just hanging out. I just jumped off the roof. I landed a 30pound ied. I was lucky to have my guys give me out of there and to begin emergency surgery. I ended up getting my rehabilitation. This is an incredible story. Thank god youre with us today and you can talk to us about it. In terms of the surgery and what took place next to take and how was it for you. The rehabilitation process took about a year to get from walking to jogging to running sages. It was a really great experience. The doctors and all the staff there they work very hard to get us up and walking and going as fast as we can two just continue to live our lives back to normal. I always wanted to be in the military and also anything that would have a second backup would be the Police Department and moving it to long island recently with my wife and my daughter interacted with Law Enforcement and my wifes cousin beat a Police Officer i just said okay maybe this is my second shot my second opportunity. Anytime i would interact with a Police Officer was always a professional courtesy. It was awesome. I felt like i could go back to doing that as i backup. Im sure my entire Police Academy has been motivated by that. They dont really understand what its like to be in the call of duty that you were. Can you tell us a little bit about your experience and what we should know as regular american citizens about what goes on on the ground in the fight. Certainly a tough experience. They teach you these characteristics and to serve your country. And the commitment you do it by leaving your family. And not knowing what the next step is and then transition into the Police Department that was a very good experience for me. Everybody has been so very supportive. They were able to motivate me. We just continue to go through these weeks thinking we can do this. Weve got this. I dont think i wouldve been successful if it wasnt for them. If you want to do you feel the love and support from the rest of the country . Its an abundance of great joy of people wanting to get back. And his blessing and the men and women in uniform and giving back into the community. Would you find what you came home. It was difficult at first. Identify would continue to do my job and my passion. And also spread the word about life without limbs. It should be fair that they dont think that they can succeed in life. Everybody talks about normal. Im not sure exactly what is normal. Were used to a typical person. There is no definition of normal. I would say you need to work at it. And eventually you will succeed. A lot of times you say think its the actual actual officer but we know that the support it so sure when you have that background and the backing of your family. Take you to your wife and your family as well. Maria tell me about life after the two are . I think thats what inspired me that i was gonna be able to get back up and going like i used to. I was joining all sorts of veteran groups and running on different teams and skydiving and playing on the Wounded Warrior softball team. Just getting to meet Law Enforcement personnel and military all throughout the nation. They were very supportive think i could have been as positive it without them. What p we will be right back. S a cuttie experience. Or the network that keeps a leading hotel chains guests connected at work, and at play. Or the it platform that powers millions of ecards every day for one of the largest greeting card companies. Businesses count on communication, and communication counts on centurylink. Maria happy monday good monday morning. Welcome back i am maria bartiromo. Thanks for joining us today, monday, march 27 your top stories right now 8 00 a. M. On the east Coast Health Care he reform taking a toll on our Nations Capital, the focus shifting to tax reform, Republican Leaders say that they will look to work with glats glatsa democrats to get it all done. Not you a partisan president this is a president wants to provide you are right wants to make sure that people dont get left behind. Want to make sure, that there is competition in the marketplace so rates are lower. And people can choose their doctor, so if those three things are incompatible with some members of the Republican House it is going to be incompatible we need to work with moderate democrats make sure that you cannot have major changes programs affecting Health Care Without including democrats in the very beginning asking them to be constructive. Drama in d. C. Taking a toll on markets on wall street, futures trading in the red this morning, trading at a 6week low, we are expecting a decline of about 140 points on Dow Jones Industrial average this morning, as the uncertainty rises about the president s agenda, in europe stocks are lower across the board, take a look at european indices this morning down between a half percent three quarters of one Percent Health care he tax reform not only battle republicans face on the hill it could be tough for the Supreme Court nominee neil gorsuch as well democrats trying to figure out how to block his nomination and block the president in general, details in london terrorist attack from last week terrorist reportedly using messaging Service Moments avenue starting his deadly rampage, police cannot get to those messages though, because they are encrypted questions this morning. Workers may have to wait long tore get a raise why the city is backing off plans, to raise the minimum wage now, about those about yun ooitdz airlines under fire refusing to allow two teenage girls to bourt a flight because wearing legings, details as airline defenses decision, all those coming up this morning joining me to break it down pollster lee carter here pc. W. Partner here 32 adviser ceo fox night contributor robert wolf good news at a a lot to talk about it is tax reform, when now the Administration Says is turning its priority towards. We will see how that works out republicans are looking to push ahead on tax reform after failing to repeal and replace Obamacare Peter Barnes good morning to you. Reporter white house signaling it wants to eventually get back to work on Health Care Reform, according to the president s chief of staff when obamacare does openly explode when it will Reince Priebus said administration bb prepared to lead when democrats come aboard with lan quote we will welcome that. Until then may be democrats will work with republicans on tax reform, listen. I think that moving forward the president s vision on he lowering taxes for every american is what is going to unite not just Republican Party but i think some democrats are going to come onboard as well. Reporter this weekend in response Senate Minority leader Chuck Schumer said maybe democrats would work with republicans on tax reform, but quote i dont think they are a headed in that direction and they are going to repeat the same mistake they made on trump care with he tax reform. Maria. Maria we will watch that i think so much robert wolf with us there are reporting republicans will look to work with democrats to get tax reform done, but robert i mean even on neil gorsuch, Chuck Schumer saying i am not going to vote they are trying to obstruct any plans for the president s agenda. So two things, one on the gorsuch nomination, i hope they dont filibuster i hope they vote i hope that we stay that sprement needs 60 votes whether he will get there or not i dont know, but i think we should live the way we have for the last decade continue to have a 60 vote for something that has a lifetime seat and so the question on moderates and Democratic Party are moderates going to come together and try to pass legislation . With this president . I think they have to. I think saying no to everything is not a way that they will ever get back to senate or house they have to be for something not against smog you know my perspective i support him now that he is our president , he was for something, and hillary was more against something, so i think our country wants to be for something, that being said, you have to pass some policy. You know we were wring the stock market to 21,000 trump rally trump rally now it is along losing streak since 2011 no one talking trump rally. Maria 13 since i am just saying you have to pass policy, so my recommendation would be to do Business Tax Reform not business and personal tax reform i do not think they can get that done. And i think the Democratic Party has to work with them on Business Tax Reform because they have been supportive of it okay. So the last 8 years as well. Do you think they do go personal he tax reform if they just took borderadjustment tax off the table, said personal and business make that go away. I dont, because i think there are too many arguments on what you cut out when it comes to personal taxes, are you can you go to out morning interest charitable deductions a huge debate. For all those deductions there is another lobbying group that are going to push for why deductions are important, borderadjustment tax seems the big wrinkle republican lawmakers are saying, adjustment would create fair environ house ways and means chairman kevin brady with me yesterday. I think another point that is important to the president , is the potential for a border tax we start evening up Playing Field between our country, countries around the world, not backing off that, we want to make sure there is a level Playing Field, between foreign products and made in america products here as well as abroad we want to simplify tax code what border adjustment does. A gop plan, and the gop plan for Health Care Just failed are they going to have another failure on hands when they try to get on tax reform. They are going to have a fight a lot of people saying they dont want borderadjustment tax probably more people dont want it that would be industries dont want it taxpayers dont want it a complicated concept that has some short term adverse consequences even though in the plan to help pay for, some of the other tax breaks, the reality is very complicated. This failure on health care, may actually have damaged the credibility of paul ryan and company may have a actually pushed the borderadjustment tax off the table from that standpoint may be it was a good thing health care failed. I think there is no question that paul ryan lost credibility right now i think that there is no way he about it put together plan he has he has a majority, he cant get the thing done it is so a he wasnt going to get votes i wouldnt have embarrassment friday. I dont know cant explain it a terrible job of selling it, it was mistake i think right now, donald trump has to look at Political Capital say question is how he putting it behind i dont think paul ryan i think should put that borderadjustment tax to the side. Something 18 to 20 of the economy they think they can get done in 18 as the. The health care . It was the whole thing illogical i think trump should have stuck with specificity on tax reform infrastructure where he has been all along you think more Common Ground between right and left on tax reform than there was on health care. Absolutely. , of course, this is. I agree with you but look. Maria there is a borderadjustment tax here and there is no agreement there. If trump had a mulligan would not have started with health care no way. The data signatures most important things for American People are the economy, jobs, taxes, health care came far after, he spent a lot of Political Capital on health care when he needed to take care of the other things, were seeing good things happening in jobs, he needs a wen on taxes needs to get it done and promised he is going to make deals like never seen deals made before. Maria why why they did Health Care First . Because of reconciliation they knew they were not having any support from democrats said lets do this during reconciliation only need 51 votes, instead of 60 that is why they did it your got finger on pulse of the american citizen out there how are americans viewing this gridlock what do they say about Health Care Bill pulled and now tax reform on table. I think a hiej disappointment, i think the reason donald trump was nominee for the Republican Party is because he represented someone going to get things done nonestablishment what just happened represents everything that is wrong with the establishment, and still donald trump at the helm, so i think a huge disappointment to people i think people are calling in to question whether or not anything is go to get done we are seeing that pay out in markets, my guess going to see it in polling data ally confidence getting it done they need to grab low hanging gratuity get things done make compromise to get it done. Debt ceiling not talking about it they need smooth sailing with that, they cannot talk about closing the government and shutting things down, they need the Freedom Caucus no december republican to all of them i dont know any of them got to zip it need a clean debt ceiling bill approved to get to tax reform, after the april recess otherwise you are going to see incredibly volatility people say zero chance wont get done if you dont get a they have got principles. To lees point debt ceiling could be more gridlock more disfranchised people in he the electorate not seeing waubt change. Maria are 2018 elections in terms of senatorial congressional races more coming up a dress code controversy clouding United Airlines backlash after decision to bar two teenage girls from wearing leggings not allowing them on the flight with leggings on the Company Response next minimum wage meltdown why flagstaff, arizona rolling back plans to require businesses to pay at least 15 dollars an hour. Minimum wage, back in a minute. Theres no stopping us right now, i feel so close to you right now 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. Maria welcome back police in london making additional arrest following the terrorist took Lauren Simonetti with details. Lauren investigators arrested 30yearold man yesterday suspicion of prep terrorist the latest 12th made by police many arrested have been released without charge. United air also standing by decision to prevent two teen girls from boarding a flight at Denver International airport because they were wearing legings, airline says they do not meet dress code for special passs traveling, airline employees or dependents who fly free or for reduced rates. The carrier says girls would not have been tinder away if they were paying customers a third girl seen was allowed to board after she put on address over her legings, incident set off a social Media Firestorm another traveler started tweeting about it now you basketball the answer talking about a game a long time winner to final four of ncaa gripping final 10 seconds watch it. The oh [cheers and applause] to the line what a while finish you final four saturday glendale san diegan tar heels take on oregon dugs gonzaga face cinderella South Carolina in the first game a sighting, of a big foot, what check this out crashed car into a deer, because she was distracted by a . Rare view mirror driving u. S. Highway 95 saw the big foot chasing a deer on side of the road. She says she was checking mirror for a second look, when the deer ran right in front of her. The Sheriffs Office record it had incident as vehicle versus deer collision, but did not mention any signs of bigwhat do you think . I want to see toxicologist i dont know what to say about that, unbelievable. Never seen big foot for the record. [laughter] all right still ahead chaos on Capitol Hill Health care defeat putting a spotlight on the relationship between President Trump, and House Speaker paul ryan, the turmoil to markets futures indicating a lower opening 6week low right now Dow Jones Industrial average amid interceptuncertain happens next. Back in a minute. upstate new york is a good place to pursue your dreams. At vicarious visions, i get to be creative, work with awesome people, and we get to make great games. what i like about the area, knows each other. And i can go to my local coffee shop and they know who i am. Its really cool. New york state is filled with bright minds like lisas. To find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. [he has a new business teaching searchlessons. Page, rodney wanted to know how his business was doing. 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Liberty stands with you™ Liberty Mutual insurance maria are being a look at markets a decline of about 150 points on Dow Jones Industrial average, turmoil on capitol hill a toll on markets futures indicating a selloff at open this is the 6week low, investors are watching on whether or not tax reform can get started, after that Health Care Reform bill was pulled but, of course, as you see from the markets this morning, there is a fair amount skepticism about that we will see about that watching this, because what comes out of washington impacting investors right away a failure in the price the city of flagstaff, arizona walking back an planned minimize minimum spree of would have seen lowest paid making at least 15 twlars an hour by 2020 after local businesses were forced to raise prices so he will instances close doors with rising cost of labor, managing director salzman good to have you on the Program Thanks for joining us. How quicklied by flagstaff feel this economic pinch of proposed increase. They began to he will fight almost right away because you know flagstaff minimum wage last year 8 dollar anhour range what flagstaff is going to do raise by 4 dollars an hour 120 the beginning of the year 12 this summer. And i think the reaction of businesses can best be described as chaos, you had some businesses again raise prices a number of businesses closed like a yogurt shop restaurants, cut back on staff i think the real Pressure Point was that Service Providers nonprofits disabled in flagstaff closed down or left 70 entirely iffy this have wasnt if i recollected. Small businesses easterns have said if i have to double amount of hourly wages employees i have to put jobs in two cities raised minimum wage as high as 15 dollars an hour Seattle Seatac seatac washington what is your take. Interesting, i guess my question to you is did Health Care Costs come up at all in the calculus what was going on in flagstaff with the cost of employment not just the wage that you pay but also the costs benefits included. A broader conversation both for all payers and employers looking for unique increase in cost as well in flagstaff more broadly i think what is happening you can probably say fight for 15 maybe losing steam even legislators to the left of center, even in baltimore this past week you had mayor proposing to go to 15 i think realizing there is no free lunch in this debate only so high you can minimum wage before customers arents going to pay drastic cutbacks elsewhere or close entirely. One of the hole debates went on with fisa 15 fight fr 15 discussion on geographic with diversity the idea of federal mandate on areas where may be a few Different Stores or in a rural area, and, you know, i think that even someone like myself for an increased minimum wage much more gradual approach i think has to be with with taking the geography what is your perspective whether do you see it going. I think excellent point probably about debate nl whether 15 dollar minimum wage makes sense maria mentioned seattle, seattle going to 15 has seen reduction in opportunities for the least skilled employees, but i think should be completely uncontroversial for instance at 15 dollar minimum wage makes no sense for city like baltimore like cleveland certainly, rural areas where even the median page may be below 15 dollars an hour i think legislators taking a hard look as they start to understand, that the real face of 15 is not a Large Corporation it is a Small Business one of the owners probably working alock sided employees just cant you know barely breaking even as is 15 is going to put him or her under. One of the things i see over and over voters buy positive dont buy negative stories the whole story about the minimum wage rate has been look if that happens, all these bad things are going to happen if you talk about on Positive Side like 15 dollars that sounds great, how do you turn this around, and say this isnt a they go story fear it if we do this all Companies Close bad stuff happens how do you talk about what good is going to happen if we let states decide themselves. I think the upside is you know long term what we want to have is people working their way up the career ladder have opportunity to continue to succeed if you say fulltime starter page is 30,000 dollars a year, 15 dollars an hour full time you are going to lock a lot out of the workforce look at what happened what has the unintended consequences what happens if you allow market to work if you allow people who currently dont have opportunities to work up the career ladder much more positive study data shoes longterm people with early workforce experience earning more in the future more likely to be in a a better job so i think that is that is compelling message you are right has to be pared with specific stories not general rally tees about losing jobs. People want to earn a more than minimum wage that is the point, so far 17 states have already a raised the minimum wage, and another 19 are expected to do so right now. The will we see the first 15 dollar statewide minimum wage this year . There is the state raising minimum wage in 2017. What is impact in terms of of the economy great to have you on Program Thanks so much. Thanks for having me. Coming up trouble for President Trumps agenda o potentially about Health Care Bill failure casting doubt over the plan for tax reform the trouble on capitol hill hits markets futures tripledigit move down toward 3 4 of a percent lower the 6week low right here. Showroom without leaving your home amazon plan tos revolutionize the way people shop for furniture, back in a minute. Aringing. Maria welcome back. Good monday morning thanks so much for joining us. Im maria bartiromo, it is monday, march 27. Your top stories right now 8 30 am on the east coast a shift in o focus white house setting sights on he tax reform after republicans could not get votes to repeal and replace obamacare. At the end of the day, i believe that it is time for the party to start governing i think that is important. The focus can be on this leadership or whatever, i can tell that you when this bill was rolled out it had less than 20 support among americans. The president took it from having he probably 80 to 100 either undecided or no votes and got it this close, to making sure that it got across the finish line no one worked harder than speaker. Not going to settle a tax reform with those taxes that is why speaker said this is not insurmonitorble. Wide and deep slamming markets dow industrials at lows of the morning, down a 6week low with decline on the morning of about 150 points this is what will play out when market opens one hour from now one watching financials major banks falling in premarket the Leadership Group on upside, since election night, given that investors are expecting a lot of rollback in regulations to be good for earnings the group down today, right now, between 1 3 4 percent and 2 1 2 on major banks investment he broke. Europe stocks selling off take a look similar all about policy out of washington, the cac quarante down a half percent dax in germany down 1 ft 100 london down almost 1 asia overnight stocks lower across the board as you can see here, nikkei average in japan worst down 1 1 2 amazon looking to change the way you shop how it plans to use Virtual Reality now, to help you envision the product in your home. Shares of snap, snapping back jumping in premarket even in face of a weak market the latest after more analysts are issuing apply ratings on the stock has it up almost 3 in market for a new home this spring might be more difficult than you think to buy details u. S. Housing inventories at historic lows we kick off right now on capitol hill, all eyes on relations between President Trump House Speaker paul ryan despite failing to repeal and replace Obamacare White incision the white house not calling for speaker to step down, listen. You want paul ryan to step down as many no, he doesnt he talked to paul ryan yesterday about an hour he believes what he said in at the oval office doesnt blame paul ryan i have spent more time last week with president United States than ever thought i would if i stayed four years never once have i seen him blame paul ryan. There is no conversations going on right now, with regards to he replacing speaker. Kelly good to see you thanks for joining is. The first major test for paul ryan, as speaker eshunder President Trump where do you think things stand. Repeal and replaceing obamacare never President Trumps first item he went on jobs improving economy didnt have a replacement plan intact when he entered he gave to it House Speaker paul ryan let him take the reins i think there was a disappointment the fact the speaker couldnt deliver votes passing this through so i think with tax reform you are going to see this driven by the white house, you are going to see mnuchin, gary cohn the president himself put stamp on tax reform, i dont think you are going to see speaker ryan have as big a role in moving policy forward. Do you think this was a failure sorry. Do you think this is a failure in the health care policy, the messaging of it . Or the politics of it . I think both. I think the bill was messy i dont think that it was rolled out correctly i think it was a it with a as really messy rollout, from the very beginning. But republicans no matter what they do, if they are going to replace obamacare the people will fall off insurance rolls most of those people a lot, 4 million will will elect not to have insurance, and so that is a choice they are having right now dont have a choice, that was just never really messaged well by white house or by the congress. Why not how do you go into a vote and not know where the votes are . Shouldnt he have known a broad amount of pushback he wasnt going to get the over the finish line. But he should have also before he rolled out the bill, got the Heritage Foundation onboard Freedom Caucus onboard he should have spoke to conservative groups the Koch Brothers not like interests werent here speaker ryan not like he couldnt have gone to them before he rolled out the plan he didnt i think a critical misstep comh plan was released nobody liked it released no one had seen it prior how do you work on something seven years no one knows what is in it robert wolf. Couple things one should you you should have known what cbo scoring would have done whether you he like irritate not that is what people look at you to me would cause incredible agita steve forbes said why i am saying whether you like it or not i am not sake you are, but but for all the republican governors that gave them a bully pulpit to stand on kelly what i would like to i ask is President Trump loves to win, and he wins very often. You know. This is a big loss for him one of his other big wins was you know the trump rally, you know is going through a a bit of a a lull couple weeks if you see the market, i think for him watching the market is is a big thing he does daily he likes that markets going up, if you see a continual fade do you think he will make changes, and i hate to say but take a head . I do i think critical president gets 3 gdp growth this year in order to be successful president in order to do that you need Corporate Tax reform Infrastructure Investment if he cant get anywhere with republicans i think you will see him go to moderate democrats, in the senate and house, and try to push through infrastructure bill this is not going to be with republican as much the Freedom Caucus going to lose them if he puts infrastructure bill through perhaps if he tie that is with a Corporate Tax deduction repatriation tax, we could see the economy start humming, and you could achieve the goals he wants. That would be a home run in 17 business taxi respectfully infrastructure the president infrastructure plan was mainly based on tax credits is not the one the democrats many align with there has to be a lot of generics but absolutely the most bipartisan issue. Kelly, you one of the things you said before was messy how do they do what you just accomplished without making it messy to keeping it simply actionable. Maria cut taxes already. Cut taxes, Corporate Taxes dont go after individual tax rate that is too many loopholes to close too many biggest interests corporate interests in this town do Corporate Tax rate make sure that those taxes go into effect the beginning of this year. You cant just cut taxes not do away with deductions then you really have to say how the heck to pay for it. Talking about President Donald Trump supposed to be the president of the American People not big business so if he just goes out to Corporate Tax without going after he personal taxes understand, you know. Gdp you know, rising boat lifts all tides rising tides lift all boats, i got that backwards, you basically see once the corporate business rate tax you he see businesses Small Businesses, you know hiring more investing in people more, salaries rising i think that you cant reduce those benefits. A little secret the white house in washington wont call it Corporate Tax reform they call it Business Tax Reform case they want to make sure this they include Small Businesses. Right. That will be something and that will be something that they will say okay we care about those that have half a dozen employees, i mean it may not get llc but they will include Small Businesses i would agree with kelly, you get Business Tax Reform going repatriation people feel something got done big. House ways and Means Committee chairman cohn brady told me yesterday about moving this tax bill forward. The way we hoped were not going to dwell on it we are getting ready for the next big game and that is tax reform, good news is ways and means republicans spent five years getting ready for this moment House Republicans have spent last year getting ready for this moment we continue to make our tax reform plan even better. Maria the only issue kelly is the fact we know that they are starting on the wrong foot. With tax reform because all connected. They want to get health care done, because they were repealing a trillion dollars in obamacare taxes. So they were beginning tax reform conversation down a trillion dollars, now they begin with that trillion dollars, so in 39 states going to be all health care, taxes. Why he. Trying to cut taxes. There is definitely starting in the hole this goes to when they need this deficit neutral or not if they push through reconciliation process they need to be deficit neutral within 10 years, they actually pass a bill, with 60 votes this is why i would like to see infrastructure tax cut bill all tied into one, then they dont have to worry about having it deficit neutral. We are watching moabout complicated than let on we appreciate it take a short break when we come back Health Care Bill failure is claiming a casualty in Freedom Caucus Stuart Varney tulz why he sports the decision to leave Freedom Caucus next Parent Company soaring this morning, that being how long that rally could last back in a minute. Varney. E7. Maria welcome back, 45 minutes away from the opening bell, for a monday, we are expecting a tough opening this morning certainly, on the heels of the disappointment over the Health Care Bill. Couple names on move amazon looking to extended its reach into your home, the only retailer reportedly considering Virtual Reality concept stories is to make it easier for users to select furniture and appliances see what it looks like in your home an zone shares down almost 1 premarket, snap the stock is rallying this morning in premarket, up better than 3 snapchat parent and then a stock soared 16 last week first few buy ratings from analysts that came out last week stockstill on a volatile ride 1809 since anticipated debut, of course, priced it at 18, but 17, and opened to 24. Congressman ted pell resigned from Freedom Caucus the conservative Group Opposed obamacare had been in favor of the bill in statement he said this. I resigned from the house Freedom Caucus to deliver on he conservative agenda we have proposed American People 8 years we must come together to find swlugs to move this country forward, joining us right now host of Varney Company Stuart Varney i think agrees with that. I do yes, i do. Look i am a conservative kind of guy i like free markets i like small government. I also expect the Republican Party to do what was elected to do and that is govern. The idea that the small number of Freedom Caucus people should he who will everything up deliver a stunning defeat to president and country is in my opinion out of bounds i hope ted poe a sign of things to come i insure as hope he is a sign of things to come with a weve got this morning obamacare is still with us, going to be with us for the foreseeable future huge taxes incredible rules high deductions, that all stays because the Freedom Caucus couldnt bring upon itself to be less ideologically pure i think ridiculous we have the president reaching out to democrats looking towards tax reform in future. What kind of tax cuts is anyway democrat ever going to deliver to Republican Party . Not much my opinion i think the Republican Party has failed. Failed its first test better get its act together. You know they start off on tax reform, on the wrong foot because they have that trillion dollars in taxes that were supposed to go away if repeal and replace. Exactly you still got a divided Republican Party going towards tax reform, some people want the borderadjustment tax a lot of republicans dont. There is a split hp how they going to solve that they have to if we are going to get it looks to me like we might get he watered down tax cuts and delayed tax cuts a blow to our future prosperity. Let me ask you stuart fast toward six months say in similar place with tax reform and Freedom Caucus and couple small groups within the Republican Party push back aggressively on a borderadjustment tax they say i am not going to i am not going to agree to borderadjustment tax i am sticking it in and sticking with my beliefs and so then tax reform fails. Then what . Say goodbye to the trump rally. Because it is not going to happen, say goodbye to three, four percent growth that wont happen. Say hello to a democrat victory in 2018 in the house and probably the senate. There you go. The way i see it. Everybody agree. First time stu and i have been one hundred percent in agreement. [laughter] stuart you have more 10 minutes see you then Varney Company top of the hour after mornings with maria join stuart and company top of the hour spring fever heathering Real Estate Market what is drive inventory to historic new lows right now. Back in a minute. Baby, as she gone tomorrow but isnt that at legalzoom, our network of attorneys can help you every step of the way. With an estate plan including wills or a living trust that grows along with you and your family. Legalzoom. Legal help is here. Wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong insurance company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Maria spring home buying season warms up First Time Buyers could feel the pinch as inventory is at historic lows get this the number of starter homes dropped nearly 9 last year according to trulia joining us is roger, Associates Real Estate owner, good to see you thanks for joining us. Thanks for having me how are you. Maria obviously, the lower the number of homes on the market the lower the number of inventory. The higher the price supply and the demand what is going on right now . Were seeing it this is the Spring Season started last week, really after spring break, and, you know, it is how it has been past few months busy but right now is busiest time of theyear highest in an with lowest supply so prices also increasing even in past two weeks, in some of the top markets. Roger mitch one of the things that were seeing up here a lot of people especially starter level bidding above asking prices that is National Phenomena you are seeing. Changed rules we mortgages people cannot go in some places texas cant bring between Purchase Price and in cash some stuff holding it back you see people making bids sight unscene obviously cash, still king but some situations like entry level price pint, dallas or northeast or midwest you see people bidding 15 to 20 first day without seeing property may be without face time tour it is fairly previouslant across the country. I am surprised on some research you were doing, that miami you talk about doing really well, because when we talk about certain areas, florida seems to be one that has been getting hit. Is that just the high end that is getting hit . When you yeah. When you look at this whole price thing, because you know Fairfield County aspen miami hit. With inventory or prices. Prices are going down, and high end areas. Do you see that high end getting hit where the average price homes are going up is the kind of price from miami or across the country. Both. Ia i mean so i tell you miami fairly volatile if you look at indices from late 2000s early 2010 miami has seen it vegas cities rose quickest got killed quickest i think because the buyer is more fareful buying in you arecan corp highrise the thing we dont realize that as well becomes a lot of fees associated with that, and if you are firsttime home buyer not able to afford it miami has never really been a stable Real Estate Market. What about about nationally in general, what do you tell people right now in the market to buy a home . How long can this discrepancy go on that youve got finite amount of inventory and that is pushing prices up . If you are in market for a home right now should you wait . I mean it this is how it normally always is whether market is fantastic like it is or a little bit slower the Spring Market is always busy, weve seen he cycles people wanting to buy, average like millennia rents before buying t year they do it a good time to buy, and sell, somebody wants a good deal like the they want to save money this is not a good time of year to buy but not because it is 2017 and stock market is worth that, economy worth that because residents real estate cycle cycle cal. I just think that we deal with this every year people are always on the fence come menopausal april tend to go renew lease or take the plunge and buy. So to go back to the question about high end real estate, it guess hand in hand with the economy i think cities like i said like phoenix vegas miami, whatever even los angeles those things ride the wave either side of it, miami the urban core has never seen like a five year plus run, of i think that is going to continue to happen. Wow. One thing we have been talking a lot of tax today, just sort of merge tax and real estate topic one things could be on table home own rs deduction what would hatch if we lost it or phased out overtime. I think team are going to always freak out when Something Like this is introduced we have seen it always going back to the American Dream i think people are always going to want to own a house. And. Maria what about the he state tax if he state tax goes away does that mean people will just hold on to homes forever and not worry about taxing once they pass. It just depends i think that it depends what articles you read how talk to if you are talking about you are Younger Generation of home buyers, they are you been objective not necessarily home on to house make it a home i think buying a highways because it is a house hopefully are building some sort of equity so there is there is two sides of all of this i think that you are going to have people that have been a part of cycles before that are a little bit more weary to go make a administrative but people on the other side tired of you know adequate unquote throwing money away going to find way to get in, when area they want or not going to put money something that is tangible help build equity. Thanks so much, final thoughts allstar panel right after this short break. Back in a minute. I dont know whether you are going ohh, i wanna know, oohh, where do you do [vo] quickbooks introduces jeanette and her new mobile wedding business. At first, getting paid was tough. Until she got quickbooks. Now she sends invoices, sees when theyve been viewed andtadahpaid twice as fast for free. Visit quickbooksdotcom. Welcome back, final thoughts from our allstar panel, robert wolf. Tough weekend for President Trump, but he can pivot quickly, get the debt ceiling out of the way and then go right to Business Tax Reform and infrastructure and people will be talking about, you know, gdp moving up. Maria mitch. The Administration Needs a win and this may be time to demonstrate some of the art of the deal hes capable of. Maria on tax reform. On tax reform. I want to make sure that the administration remembers its not just about getting policy through, but a story through to the American People. Its just as important to get the message right and policy right to sell it and get it done. Maria a great point. Well watch the markets, down 150 point on the uncertainty of all of the above. Great to see you all. Great to be here. Maria Stuart Varney kicks it off right now with the latest on fox business. Stuart, over to you. Stuart thank you very much. Friday, a debacle on obamacare. Monday, a selloff on wall street. And the future . Maybe tax cut delayed or watered down. Oh, boy. Good morning, everyone. As of now, obamacare still in place, taxes deductibles, rules and all. Its not going away anytime soon. That will be a drag on future Economic Growth. The president has moved on to tax cuts. That means, that is the mainstay of his growth agenda. Now with a divided Republican Party, hes reaching out to democrats for help and what kind of tax cuts would democrats agree to . Will there be any tax cuts at all . If the party is so split they