President trump signing the continuing resolution into law a couple hours ago. In this hour the battle is just getting started. Congressman john geir menddy, democrat of california with us live. Whats his and the democrats price for passage . Well ask him. And he is in california where wildfires in los angeles now expanding to san diego county, getting more and more dangerous. 1000 plus firefighters on the ground right now battling the spreading blazes that threaten some of l. A. s most luxurious hopes. The star of the l. A. Listing, josh flagg is here. One clients home has already burned. He will tell you what they are most worried about when it comes to the wildfires and their real estate. They call this guy the hollywood brand father. Row hand oza, the man with the midas touch. When it comes to introducing new, disruptively Healthy Snack food. Rohan will tell us how the gop tax plan could affect him and other venture capitalists and other entrepreneurs. One hour to the closing bell
Column. Your trading looks like this. Next story of two thirds of a percent. Dax also higher but the cac fractionally lower. Asia overnight close higher across the board with the best performer in hong kong. Hang seng index better than 1 . Shanghai in china better than 1 . Evacuations underway in california. Deadly wildfire putting in size over the weekend. Now the fifthlargest in the state history. Governor jerry brown warning the devastation could start. We are facing a new reality in the state were fires threaten peoples lives, property, neighborhood and of course billions and billions of dollars. We have to have the resources to combat the fire. More coming up as they gain any ground. A race to the finish in alabama ahead of the senate race tomorrow. Voters are prepared to head to the polls as Democrat Doug Jones makes a final push. We break down where things stand right now 24 hours ahead of debates. Closer and closer, President Trump with the work lawmakers have done in their que
It goes downhill from there. That is clear political bias, contempt for the President Trump inside the investigation. Today we will pill back the layers of the story. You will see the deep state of work. Now look at this pivot 99 of the vote counted, Democrat Doug Jones at wheaton republican roy moore in the Alabama Senate race. A defeat for President Trump for backward more. It is a defeat for the Republican Party which will have a slim 5149 majority in the senate. Democrats much stronger than the 2018 elections. This one affects the compromise on taxes. A corporate rate of 21 and a top individual rate of 37 . Given the alabama result, the republicans very quickly. Money looking at a market that will open flat to slightly higher through the focus on tax cuts in getting the deal done quickly. The president make his final pitch this afternoon. Varney company is about to begin. Well, talk about a political bombshell. Here it is printed text between peter strzok and lisa paige obtained by
Legends breaking down implications on the tax bill, how much will you really be able to deduct of your mortgage interest . What does that mean for all you fence hitters ready but wait to go buy a new home . Plus, we are all geeked up for the debut of star wars, the last jedi, we have so many questions, is skywalker the last jedi. [laughter] shows how much i know. Why did carla turn to the right side. Mike tamara just left the screening. I dont know if hes going to give the spoiler alert. Dont freak out. S p 50 headed to new records as we await final details of the tax plan on the quadruple friday, less than an hour to the closing bell. Lets start the countdown. Liz folks, i do just need to get you breaking news we are getting, we are now learning that a u. S. Judge says he will be releasing former Trump Campaign manager trump manafort from home confinement. Manafort has been indicted in the case whether trump colluded with russia. For now i want you to turn the attention for the lower
One of the thins theyre highlighting in this bill are the new tax brackets. Now, theyre promising a family of four that earns roughly 73,000 would receive a tax cutoff 2059 but as you see in these tax brackets its going to change wildly depending on if you file as a single filer or as a married filer filing jointly. The key here is that they lower ed the top rate down to 37 married filing jointly 600,000 and above, for a single filer 500,000 and above. On the salt deduction, so important to people who itemize and live in high tax states. You will be able to deduct state and local taxes, your property taxes, your income tax or sales tax up to a cap of 10,000. Mortgage interest, it is maintained but whereas right now , its mortgage interest on a value of a mortgage of a million dollars, it will be 750,000, essentially starting on the first of the year. If you currently have a mortgage , nothing changes for you. If you get a new mortgage in 2018, thats where the change will occur so again