those foreign earnings in those foreign countries because companies, they didn t want to pay higher u.s. taxes on them. so the new tax law lowered the rate from 35% to 15.5% for liquid assets and just 8% for hard assets like real estate. in return, the president promised as much as 4 to $5 trillion would be repatriated brought back to the united states because of a lower tax rate, and those companies would be spending that money here. that sounds awesome, right? according to a new analysis from the wall street journal only $143 billion has come back to the u.s. so far since the law took into effect january. the commerce department has a much higher estimate, $464.4 billion repatriated. they are just estimated and they are far, far away from the 4 to $5 trillion that the president promised would flood into the
up. what is the latest reaction from the house delaying the vote on that bill. reporter: another stormy day, jenna. there is a lot of anger among especially members who represent new york and new jersey. congressman peter king said this morning that he is distraught the house of representatives did not vote last night on this bill for aid for sandy victims in the affected areas. president obama just a few minutes before i walked out here to the lawn put out a paper statement that is urging the house to vote today on that bill it s a $64.4 billion bill that is packed with aid for residents of new york and new jersey and the affected areas, and that is another bill that passed the senate first last week. jenna: big meeting at 3:00pm with house leadership and some of the delegates from new york and new jersey. thank you. jon: let s bring in charlie hurt columnist with the washington times for more on the fiscal cliff deal. i know you have been scouring washington and looking for an adul
korean citizen forgets that his freedom came at the cost of american lives and maybe this young man should meet at the 38th parallel and meet those americans who still provide him and his countriesmen the freedom he continues to enjoy. clayton: i don t think that war ever ended. like typical wars that have a document. i don t think that war ever technically ended. and superstorm sandy brought devastated and will cost tens of billions of dollars and now the president is asking congress for 60 billion to help with the cleanup. peter doocy is live in washington with the latest on the recovery efforts. reporter: good morning, clayton, you re right the white house wrote a letter, the speaker of the house, to request 64.4 billion dollars and the number recommends funds needed to finance a
$64.4 billion. they borrow from peter to pay peter. and gerri is from the fox business network. as weird and awful as that looked it is worse than that. reporter: we give them money, they give us money and it goes back and they are paying $15 billion a year and moving toward profitability you would think they would stop having us give them taxpayer dollars. but that will not happen. shepard: do they borrow on the cheap and sell it back at a higher rate? guest: that is how you do it but the outrage, we give them money, they give it back to us. we give them bailout dollars, they give us back dividends, right? but it keeps going on and on and they are becoming more profitable you would think this would end but it doesn t because they have to keep on paying the dividends. shepard: does it ever end? is it the dividends that . all