Youll understand why were playing that music in just a minute welcome to power lunch. Im michelle carusocabrera. Stocks carving out small gains the dow hitting yet another record high. Lets take a look at the benchmark tenyear note. The yields there hitting their highest levels since mid august. Right now the 10year yield at 2. 24 . Some of the stock movers, sprint and tmobile, both soaring our david faber reporting the two were in active talks about a merger again going the other way, however, best buy shares are tanking about 9 . The retailers outlook falling short of expectations. Were going to head live to the investor meeting in just minutes from now heres some other news happening at this hour cnbc confirming reports that the senate gop is looking at a tax cut that would total between 1 and 2 trillion. And are cereal and sausage the investing breakfast of champions . The company post hopes so because its buying food maker bob evans for 1. 5 billion and its prime time for kohls in
Immediate writeoff for investments encourages spending on equipment of machinery. All of the above are progrowth, probusiness. Now, for individuals, Middle America wince. But for highincome people, not so again generous, maybe a higher rate if you make big money and wealthy in democrat states may lose lucrative reduction like the states right there. My opinion, something very much like this will pass. All right, now look at this. New fox poll confirm that is the president s Approval Rating is moving up. 42 now. It was in the mid30s just a few weeks ago. Things are looking up including the economy, growing at 3. 1 annualized rate in the second quarter. First time we have seen that in years. Varney company is about to begin. Our framework includes explicit commitment that tax reform will protect lowincome and middleincome households, not the wealthy and well connected. They can call me all they want, its not going to help. Im doing the right thing and its not good for me, believe me. Stu
What took them so long to get it to the house for . Guest so the budgets typically pass, only republican sport which means you need the vast majority of the House Republican conference on board and went from Freedom Caucus members early on that he wanted to see a detailed outline of the tax plan before voting to advance the budget resolution which of course includes those reconciliation instructions that allow them to move the tax bill through with only republican support in the senate. Host that backing from the Freedom Caucus critical element to this. What obstacles does this base next week in the house . Guest we dont think it faces many obstacles at this point in time. Weve been talking with conservatives and Republican Study Committee and the Freedom Caucus and they both seem, both grooms to be on board at this point with moving the budget resolution forward. Some are moderate members have concerns about the 203 billion in mandatory spending cuts over the next decade but we are no
Call to order this session of the Senate Budget committee. Good morning and welcome to our first day of the Senate Budget Committee Markup of the concurrent resolution on the budget for fiscal year 2018. Which is focused on growing americas economy through tax policies that put more money in the hands of hard working americans. Before we begin, id like to take a moment to remember one of our former colleagues and a former member former chairman of this committee who recently passed away. New mexico senator. He was a true fiscal conservative who consistently pulled members of both parties together to reach consensus on the budget including two balance budget agreements in the 1990s. I know we all appreciate his service and sacrifice as a member of this great committee. This budget resolution begins the senates process of pursuing long overdue tax reform that will jump start Economic Growth. It starts with creating the fiscal framework to eliminate the stifling tax policies that are Hold
Differences into opportunities, richness and strength. Prevent us from turning them into sources of division, polarization, hate and bigotry. The most merciful one, this incredible diverse nation of ours is one of the most successful attempts to understand your wisdom in creating us different. We are far from being perfect, but came a long way in creating a multicultural, multireligious and Pluralistic Society by making in america, you will be judged by what you do, not by who you are, as one of our foundational promise. The most compassionate one, help us to preserve our achievements in this regard. Do not let the Destructive Forces of division and exclusion erode our ideals. Our Firm Commitment to diversity and pluralism. Empower us and these legislators to further improve the culture of inclusion and welcome to all in our nation and beyond. The most forgiving one, even if and when we forget you, please do not forget us. In your most holy and beautiful names we pray. Amen. The speake