I just want to thank the American Political Science Association and cspan for providing a broader environment for what is clearly a very important and relevant topic in 2019. That being this roundtable on the topic of the Trump White House and the White House Press core. My name is dave cohen. Im an actual professor of Political Science at the university of akron. I went back in time. Im an assistant director of the applied politics and a board member of the Akron Press Club and have been for over a decade and a member of the white house transition project which for those of you who dont know what the project is, its a nonpartisan effort by scholars to provide information on president ial transactions and white house operations to those transitioning into the white house. Its very important organization. And it happened to be one of the founders of that organization is martha kumar who i am happy to introduce right now. Shes an emeritus professor at Towson University and director and c
Hence were noon in the eastern part of the United States and it has yet to begin formally trading. Were watching that. Were watching crosscurrents of the markets, buoyed about prospects for possibly a china deal and lower Interest Rates at that came with it. Although off the earlier highs, largely on concerns we might be staring down a possible conflict if iran ever since they shot down a u. S. Drone overnight. The concern that it will spike oil prices. That is exactly what is happening but it has not spilled over into the rest of the market. President trump, meanwhile as we mentioned earlier will meet with canadian Prime Minister Justin Trudeau with all his finance ministers in tow as well. Possibility of a proverbial pool spray. You know the drill with that. The canadians are here in town to make sure they nail down the agreement with the United States along with the mexicans. The mexicans okayed it. The canadians okayed it. Theyre worried about the chilly reception on it is getting
Back to about roughly a year ago. Just looking at that, from that point on, we have had 1000 point climbs seems every few months. Would be in this case a little more than a month since crossing 23,000. If we cross 24,000, it would be the fifth 1000 point climb in the dow, since this year. Since the president was elected a little over year ago, sixth time weve seen that happen. Appreciable advance, that at this point has a lot to do with tax cuts and optimism they are going to happen. But there is aggressive timeline here that is, has to follow exactly. Chad pergram following that very, very closely. Chad, what can you tell us . Sometime 2 00 this afternoon is when the United States senate will have a vote to proceed to the tax cut bill. They have to vote to get on to the bill. At that point as you said it triggers a 20hour clock of debate. This is under the special process of budget reconciliation. Why is that important . Well, budget reconciliation turns off filibusters. In other word
Nicery. Were on top of that decision shortly here that could be others are saying consumers it could cut a number of different ways. Were on top of that. Were on top after market rally that knows no bounds. It would be 69th record of the year, go back to bill clinton president , 1995, for the most records achieved in single calendar year. A lot depends on tax reform getting done. Speaker paul ryan, a lot of that depends on my friends in the United States senate. Take a look. It is all about timing and managing absences in the senate. So, were basically being flexible for the majority leader. I talked to mitch a couple times about this were simply being flexible to honor their concerns about managing their schedule and possibly absences. Neil how will that sort out . Were talking about senators cochran and john mccain who might be too ill to be there for the big vote. That could make a big difference. To fox news capitol hill producer chad pergram. What do they do in that event . Here i
Down, yields go up, conversely, yields go down, prices go up, not to the degree. Not helping stocks to the degree you would think, at a time paul ryan trying to assure people theyre on top of the debt, on top of eventually a daca deal that should make nancy pelosi happy. A twoyear budget arrangement senate came up with that should be welcomed by all. Were in a bizarre kind of world, whether that passes or not, it could be daming to investors, if it were to fall through, analogous to the failure of tarp funding back in fall of 2008, that produced 777 point falloff in the dow, even though both sides regrouped, you would still see in the approval of a followup tarp deal, the dow fall another 6,000 points . We dont know whether youre damned if you do, damned if you dont on budget deal, whether you fall off if approved here or not but a catalyst could be or excuse could be failure to reach such an treatment, there are several house conservatives several we talk to next document hours are le