Giving equities a nearterm jolt. Seeing declines across the board. Hang seng off 1. 2 percent and the msci lurching to the downside as you can see from the getgo. A quick look at china benchmarks to see how they are doing. That tells you everything. I guests we had a bit of a gut check for those developers. Not out of the woods. Investors coming to grips that may be the authorities theyve been sort of taking a piecemeal approach. Perhaps they are getting it right. We dont know yet. Theres a feeling perhaps it is working to some extent given the long queues people had looking for properties in shanghai and beijing. Yvonne its amazing. The mortgage down payments, people just start lining up and they saw transactions that weekend was equivalent to what they saw in a month according to some local reports. What did that translate to consumption is another key factor as well. Its interesting to see with Country Garden. Today is the day, or tomorrow, the grace period of the dollar bond ends a
On wall street, the dow closed at a record. Investors focus was on washington and reports that republican cd a tentative agreen a tax bill. At the Federal Reserve, policymakers felt confident enough in the economy to raise Interest Rates again and sharply lift their outlook for growth. The Dow Jones Industrial av rose 80 points to 24,585, an alltime high. It had been up triple digits for most of the day. The nasdaq gained 13 and the s p 500 lost some steam into the close, falling one point. Lets start tonight with that big tax bill which does appear to be nearing the finish line. Republican leaders have made some changes, reaching a basic agreement on a final proposal that sets up a possible final vote next week. Ylan mui has our r reporter republican lawmakers presented their tax plan to President Trump at the white house during lunch today. And the centerpiece of that proposal is a 21 corporate rate. Thats a little bi highe than the red line of 20 that the president had previously dr
Dollars are well spent. From the standpoint about the concerns of the services provided, we think when you allow states to weaken the standards, and we have seen again, how states have used waivers to, in effect, create a day facto weakening of standards standards. We are deeply concerned. Well, i understand the need for flexzblety. But if the only principle here is that the states can do whatever they want, then they should raise their entaxes to pay for it. Throwing billions of federal dollars at the states with no accountability for the states of how they spend taxpayer money is not what we were sent here to do. So, thank you. Thank you, mr. Chairman. Thank you, senator warren. And i did welcome senator collins to the committee, which i should. Were delighted to have her back. She and senator cassidy are the only two members of the kmiet tee this year. Senator roberts. Number one, weve flipped the seating arrangement here. The lights are a little brighter, the heat is a little warme
Its very helpful to us as senate xxs. And i thank senator murray and the staffs for working and having presented all of those points of views. You all get an a for sticking to five minutes. Well see if the senators do, as well, as the time comes. Ill take my five minutes and senator murray and then after that, senator collins senator warren senator robert, senator bennett will be first four. Well go by first arrival and conclude by noon. My my view theres a clear federal role i have to refresh myself. So seven tests in matt, three for reading once in years three through eight and then once in high school. And then three tests in siensz once in three through five and once in grade 6 through nine and once in high school. And these are 17 tests that must be used by law, as the primary means of determining the yearly academic performance of the state and each School District and school in the state but those righthand turn the only tests that kids take. Thats one spot light we ought to put
Immigrant populations. It is just huge the effect that will be unleashed for the country and thats part of why you know business is so strongly supportive. I agree with that. I think the argument that were missing is an argument an economic argument that connects with the average american. Levels are low compared to theyre compared to the years carter was in office. What we need to show americans, immigrants dont take jobs away from American Workers, like some people think. They actually help create jobs, good paying jobs for americans. Thats an argument that resonates with americans. I think we need a populous economic message to American Workers to say look, dont fear immigrants. Theyre actually helping create jobs for you. If you have people in the kitchen, cleaning dishes it would be very difficult to create good paying jobs for waiters that are going to be taken, jobs taken by americans. This is a very Important Message that we have failed to make. And thats part of the problem we