time. so in that statement that they will meet with ryan and mcconnell instead, that makes them, sounds like they put a lot more faith into mcconnell and ryan than they have in the past at least with that statement. neil: you think about it, wasn't that longing a they cobbled together this separate deal to keep the government lights on for another few weeks. >> right. neil: being north of four weeks. so at the time, it was sort of like seen as a bipartisan olive branch on both sides, now gone. >> that's right. the point here is, that they see the president as so erratic. they walked out of that meeting months ago you are talking about with a spring in their steps, thinking they could work with the president instead republican leadership. neil: i remember you, erin, having doubts about it. to your credit, you said, let's not over, you know, analyze this, say it is a sign of kumbayah. you didn't use the words kumbayah, that all of a sudden all bets were off. so everyone is it sort of retrenched back to their respective positions but could this come back to the bite the president here? he is going to need them on the budget, some help, some support, some measure to keep government operating beyond december 8th. >> yeah, he is, but you know i think the point here is, republicans too seem to want president trump out of the way. in some sense they want the president's help to sell certain packages to the entire country and help him, have him help them message it to the entire country but at the same time we've heard continuously from republicans on capitol hill over the last couple months, with respect to any of these things, especially tax reform, but also on the shut-down, they want the president out of the way so they can negotiate themselves on capitol hill. so that really doesn't speak well of the president as a deal-maker there. neil: if that is the way it is being interpreted. one thing that struck me interesting too, stuart was reporting on it the last hour, the sudden surge in the market. it was already up. it added another 30, 40, probably 45 points at the top. now we're at session highs at 22,713 on the dow. that was shortly after we got this news. i'm beginning to wonder whether this is the market's way of saying back to the good old days no one talked to each other. in this environment, that is as good as it gets, what do you think? >> neil, we need to think in a broader sense just why the market is doing what it's doing. the market has been steamrolling ahead unabated for the last 12 months. neil: absolutely. >> there has been legislative failures and yet the market continues to climb. neil: because i think they think they're going to get tax cuts. i still think, i know the other argument a clean balance sheets, corporations are doing well. their earnings are doing well, but i still think if these tax cuts were somehow not materializing i don't know if they would be able to hold up so well. >> but the economy is doing bert and continues to get better. neil: absolutely. >> after the last five years. neil: absolutely. >> whether on account they think they are going to get tax cuts or not i think the economy just has been doing better over last couple years anyway. neil: would it have done this well, i'm trying to make you a market prognosticator, would it done this well over last year, to hear trump loyalists tell it, the president himself tell it, it is his election. would we be as high and going as far -- >> if clinton were in the white house? neil: yeah. >> i think it is impossible to say. she is not. we have to talk about the future. neil: right. >> what they're doing right now. look, i think, when you talk about tax cuts or tax reform or whatever it may be, i know for the last year all year long we've been talking about. they're going to get something. they're going to get something. but we seem to be seeing more fence-sitters on the republican side. six in the senate. six senators who have raised concerns about this the concerns are only increasing. the number of senators who are concerned about what these tax cuts and what potential tax reform could do to the debt and deficit, just increasing. you know, there are different reasons for different republicans, sitting on the fence. but i don't see the momentum froing. i see it stalling more than anything right now. neil: so you think this could fail? >> you know, i think it is possible to get out of the senate and if to a conference committee but i think at that point you will see really hard lift between republicans in the house and republicans in the senate. i would watch bob corker and jeff flake. those two are free. they're not running for re-election. talking about the lot about the responsibility they feel and you heard bob corker on cnbc this morning saying that he is really -- neil: what the heck were you watching cnbc for, young lady? >> you have to look around. you have to take in all different information. neil: okay, fine. >> but look, bob corker this morning on cnbc saying, we're just kind of relying on the belief these tax cuts will spur growth to certain extent. neil: i think he is looking for a an excuse to say no. i could be wrong. he has been a fiscal hawk since year one, i understand that given the bad blood he and the president sort of developed, it would be nice cover to say it is deficits and debt but they don't like each other. >> they don't. now you have james lankford too from oklahoma, deeply red state like tennessee, he doesn't have a particularly bad relationship with president trump, but yet he too is raising concerns about what this does to the debt. what i'm saying here is, if got those six on record. lankford is in the camp of flake and corker, this list could only grow. neil: think you're right. i think you're right. great job, cnbc comment notwithstanding, always fine job, erin. >> thanks, neil. neil: independent journal review. we're following a couple things including these confirmation hearings for donald trump's move to put jerome powell as new fed chairman. elizabeth warren was among those questioning him. obviously this goes back and forth among all the key senators. he is expected to get easily approved within the committee, outside in the senate here right now. there is some grilling expected, particularly with his views on bank rules and regulations, and what to do about the consumer protection board, one that has been a real dust-up dividing republicans and democrats. republicans think it's a waste of time. another agency overkill here. that has come up in these hearings. whether it does again likely with elizabeth warren we'll go back to that. get his talk on tax hikes or tax cuts i should say. what happens with those, how stimulative they could be to the economy. whether they would prompt interest rate hikes. markets were buoyed earlier on by remarks he made that he think as slow and steadily rise of interest rates in the offing. nothing much different when we knew from janet yellen. nothing veered from what he was expected to say but you know how these things go. i told but tax cuts that could be coming. in order to get this cleared in the united states senate, there are those proposing tax hikes if they don't generate the revenue they were supposed to. inor the words a way to bring on fiscal hawks, less disposed to supporting a measure that could blow a hole in the deficit, as if, by the way. center for freedom and prosperity, dan mitchell and "washington examiner," emily jashinsky. senator corker and senator flake, others expressed concerns about exploding debt. >> the cbo projects over the next decade we could have, tax reform could add $1.4 trillion to the deficit. so the senators are raising complaints, there are three of them primarily we know of. you have senator corker, you have senator flake and senator lankford. corker and flake are not running for re-election. they have no real motivation, electoral motivation to pass tax reform, if it doesn't meet their standard. so they can be really, really strict in enforcing their standard. so i think you probably will see them toy around with adding a mechanism would trigger potential tax hike in the case that the revenues fall short of expected levels. so i think given their lack of electoral motivation to vote for this bill, likely you will see the idea toyed with. neil: dan, they're making a very big deal, some in both parties are, the 1 1/2 trillion i guess over 10 years this will likely add to the debt, ignoring in the interim, by just forces of gravity we're going to be adding in addition to that, five 1/2 to six trillion in debt if we do nothing to curb spending growth entitlements. why is this one 1/2 trillion component? i'm not here to minimize it, pro or con, whether revenues from tax cuts take care of that, but the far bigger issue just seems to be the fact that we're going to pile on trillions more debt having nothing to do with a tax cut? >> even bigger issue than that is, the fact that government is growing faster than the private sector. you're talking government spending over the next 10 years according to cbo, growing two to three times fast than projected inflation. that is our problem there. i have don't mind corker, lankford and flake considering triggers. they're pointing the gun in the wrong direction. it shouldn't be a tax trigger that creates a self-fulfilling prophecy. neil: what about the spending cut trigger? where is that cut? >> take something we already know works, sequestration, which is what? automatic spending savings provision, we should apply that, because that is the direction the gun should be faced when the trigger is pulled. government spending is our long-run spending. government spending is crowding out and making tax relief and tax reform more difficult. corker should know this because he had a very good bill couple years ago to have put government spending on a downward trajectory and forced by sequester mechanism. neil: whatever backbone that was there, backup plan for that, it is going fast and maybe that will be evidencing itself very soon, emily, whatever spending deal they come to keep the government operating for another few weeks, before they address longer term next year. but i blame both parties. neither seems very serious about reining in this growth of spending that dan alluded to. i just think that the democrats fine ones to talk about worry about debts and deficits now but again republicans promised to do something about this, didn't couple it with tax cuts and couldn't marry the two and could have a chance to get a handle on this. >> you're exactly right, when it comes to out of control government spending which is reality we can not deny you have to look at both parties because both parties are responsible for it. i looked around to how democrats reacted to the cbo deficit projections. it is rich, crying how this tax reform will add to the deficit. the deficit is used as a political football by members of both parties. there are members made it serious priority. but we don't see that as often as we probably should. neil: dan the fact of the matter, out of control spending is the problem. that doesn't mean you tax people ad nauseam to handle that, but you get a handle on where we're going as a country here because even if you were to aggressively raise taxes on upper income, it would pale in comparison what you would need to support the government as it stands now. republicans know that. democrats know that. neither are doing anything about that. >> and that is one of the great disappointments about republicans being in total control of washington. neil: right. >> presidency and capitol hill. all they need to do is, they don't even have to cut spending. modestly restrain the growth of spending. that gives them the leeway, not only balance the budget but to have really big tax cuts and tax reform. that has to be the most disappointing story of 2017. i guess i'm not surprised. i never thought trump was a small government republican but what happened to those old ryan budgets that did have genuine entitlement reform and meaningful spending restraint? i have said this a thousand times before, we are on a slow, steady path to becoming greece. unfortunately nothing republicans have done in 2017 changes that. yes, let's have a tax-cut package, let's try to get our economy growing a little bit faster, but by itself that is not going to solve our long-run spending problems. neil: not at all. not at all. well-put. want to thank you again. >> thank you. neil: to dan's point, we were getting in twists and knots about two years ago, paul ryan, remember when he was heading the house ways and means committee. his idea was to rein in the growth of medicare, the growth of medicare. taking it from close to 8%, down to 4 to 5% that was deemed equivalent of throwing granny off the cliff. that is why those debt numbers get worse because both parties, both parties, have failed at addressing the underlying spending because no one wants to say no. we'll have more after this. is this a phone? or a little internet machine? [ phone rings ] it makes you wonder. shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. choose by the gig or unlimited. and ask how to get a $200 prepaid card when you buy any new samsung device with xfinity mobile. a new kind of network designed to save you money. click, call or visit today. neil: all right. all three market averages in record territory. a lot has to do with retailers. a lot has to be to amazon's benefit right now. that stock which is surged about 5% or so in the last week is north of $1200 a share. as a lot of retailers feel the wind at their back, believing that this is sign of things to come, this heavy demand, holiday season. former jcpenney chairman and ceo allen questrum. allen, good to have you. thanks for joining us. >> nice to be with you, neil. neil: what do you make what is going on in retail land here? >> i think it is an exciting period. i certainly think what amazon is doing is exciting. it is exciting if you're in bricks and mortar. tough be figuring out how do you solve a problem, how to youdo you attract customers if they seem to be moving in different direction. you have to be obviously omni channel. merchandising is creative business. what they do at amazon is not merchandising. they're really a distribution channel. when you walk into a store, and see a great-run department store, i was in -- two or three weeks ago, absolutely spectacular, they are picking up 16, 17%. that is well-executed department store. when you have some in the united states, it is difficult to make each store exciting. it is exciting period. we have a lot of young, very interested people in the department store and retail business and they're going to to come up to create new ideas. capitalism is always about, if you can't stay at pace with the crowd you will get left out. so i think your challenge is constantly try to create and solve problems that your customers are demanding. i think department stores quite frankly in america haven't been doing as well as they should have. neil: do you think a lot of folks whether online or traditional stores, i know there is a chasm of difference there, they're prespending tax cut money coming their way? >> no, i really don't think so. what we have, is very, very different economy than it was six months ago. when you are picking up 3% in gdp, people feel good about the economy. i think the, since the first quarter, i think people feel like regulations have been reduced, businesses seem to be thriving. businesses are doing well. so i think people are feeling generally very good. they have got over negatives of the last election. they're now dealing with their own. i think there is a lot of good things happening out there. i think, more positive than sometimes you read in the newspaper. neil: right. what do you think of the job the president is doing? got a little controversy yesterday, with the pocahontas remarks at this indian event. he added to that with a nasty tweet concerning nancy pelosi and chuck schumer, that the end result was, they canceled their meeting at the white house with the president today. what do you think of all that? >> well, overall i think he is doing well because the economy is doing well. as far as his tweets, you know i wish he would stop that i think insulting people is not something i think gets awe lot and causes more time but saying that, i think the news stations have really benefited because there is always something to talk about with mr. trump because he can not stop himself from commenting. i think it doesn't really help his cause. i think he should be focusing on key things which was health care which we failed to do. i think this new tax plan needs to be focused on and work with the individual senators and representatives so we get to the right plan. i think we have two plans on the table. both of them i think have good points to them. i think the two groups together will come up with a plan that is passible. neil: house and senate tax measures? >> yeah. they both have very good things in them. they are not perfect. there is never a perfect plan. you will never solve -- neil: what if markets sprinting to records today, if for some reason they stumble? in other words, more than thought nix this thing and it all goes up in flames. then what? >> i think if they don't pass this bill, which i think they will, i think there will be a negative in the market. neil: you do? >> saying, i do think there will be negative in the market. i think that the republicans have got to realize, they failed on health care. if they don't, solve this problem on the tax plan, i think they're not going to be around anyway. so i think they have to understand, one or two of you may survive but a lot of you are going down. then you won't have control of either house. saying all that i'm very disappointed quite frankly in republicans since they control all three, they haven't produced something. shame on them but both parties, they talk one thing, when they get in they do something else. neil: you're right about that. we have chronicled that. finally i just want to get your thoughts on this incredible market, pickup in economic activity, this latest quarter could be well north of 3% when the final numbers are in. do you think that is because of president trump? that this rally has accelerated because of him? >> i think it is accelerated because of him in the sense that he has, gave a flavor to the business community that we're not going to restrict them. when businesses feel like they're not going to spend all their time on regulations, and things that restrict them from doing business, they will come up with bert ideas. so i believe, i'm a big believer in capitalism as you know. it is only thing we've ever seen that really brings people better life-styles. so i believe that we're seeing that now because less regulation. i think tax plan is something that will come b i think it will be helpful. the key thing creating an atmosphere for businesses they feel they can operate and do business and compete. it makes us very competitive in the world. we'll not win in the world if we stop doing trade. we have to trade with everybody but we have to have a competitive platform to operate on. i think they feel, the business community, they feel it is much more feeling of positive toward them than it was in the past. neil: i think you're right about that allen, thank you very, very much. very good seeing you again. if we don't chat, have a wonderful christmas and holiday. >> you look terrific. thank you very much. neil: allen questrom, industry legend, on to developments in part what you feeling. he often time was betting against the time, those said it would be lousy holiday and wasn't, gangbusters whoday and prepared for the possibility it wouldn't be. he has uncanny knack for that. we want to follow other developments that go beyond president trump and tweets. jerome powell from the federal reserve had interesting things to say about interest rates. i'll tell you why that is important because this guy will be the next chairman of the federal reserve, unless something comes out that blows this up. that doesn't look likely. he has telegraphed something. tax cuts could pick up economic activity beyond what we're seeing. you know what? then he would be prompted to raise interest rates. that isn't a shocker. what is, is the possible canceling out effect of the benefit of tax cuts. we crunched the numbers. you decide after this. your new brother-in-law. you like him. he's one of those guys who always smells good. his 5 o'clock shadow is always at 5 o'clock. you like him. your mom says he's done really well for himself. he has stocks and bonds your dad wants to go fishing with him. your dad doesn't even like fishing. you like your brother-in-law. 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enroll. sfx: mnemonic neil: chuck schumer on floor of the senate. he nix ad invite by the president to meet with nancy pelosi and meet with republican leaders as well with the president. that responding to a nasty tweet by the president. let's listen to chuck schumer. >> if the president who alreadier earlier this year said our country needs a food shutdown, if the president isn't interested in, wants to make the government shut down, we'll work with those republicans interested in funding the government as we did in april. we have some things to do. we have to fund the government. we have daca. we have the children's health insurance program. we must reinstate cost-sharing for health premiums and out-of-pocket costs. we have to deal with disasters. we have to fund our defense and our non-defense sides for the government in reasonable way. there is so much to do. we're eager to get that done in a bipartisan way. obviously the president isn't, but hopefully leader mcconnell and speaker ryan are, and we look forward to significant down with them to resolve this in an aim mickable way as we did in april when the president wasn't involved and we got it done. now on tax bill, now on the tax bill, mr. president, the republican tax bill. we're only a few days away from a final vote but from all reports the republicans are still debating significant changes to the text of the bill. some angling for a revision in the pass of this through provisions, that higher income needs to be widened even further. right now it is reported that 70% of these pass-throughs go to the top 1%. the changes that are being proposed would make it even worse. help small business, yes. don't open a giant loophole for wealthy hedge funds, big shot law firms, lobbyists. we don't need that. others are rightly worried about the impact this bill would have on the deficit and debt. what i would remind all my republican colleagues is, that with anymore changes, it is virtually certain you will be voting on a bill without any expert analysis of its impacts. you will be voting without any estimate of whether it will grow or shrink the economy. you will be voting without a good sense of the long-term impacts of the changes you're making to the tax code. certainly one week of markup in the finance committee with only one expert witness is not a satisfactory process. particularly considering the changing nature of this bill. changing the tax code in broad brush, is a difficult thing. there are some unintended consequences. if our republican colleagues should pass this bill and it becomes law, and i hope it won't, week after week we'll find new things in this bill, some intended, some not intendeds and people who voted for it are going to regret it. and the public will ask, why didn't you know? in a tax bill it is impossible to know all these things unless you let it sit out there in the sun and bake, so people, experts from around the country, there are tens of thousands of tax lawyers paid to figure out ways around the tax code and help the wealthy who are their clients. and unless you examine the bill carefully in sunlight, unless you have a lot of hearings, unless you hear from all kinds of witnesses, the result is usually quite bad for america with some unintended consequences. so our republican colleagues in their rush to get a bill done are legislating in an irresponsible way especially when it comes to coming to something as important and complex as the tax code. if the product were a great one, that would be one thing. we all know this is not a great product. we don't even hear our republican colleagues bragging about this product with a few exceptions. everyone says this could be better, that could be better, this could be better. every independent analysis has shown -- neil: we are following very closely chuck schumer. he is not a fan obviously of the tax measure. that doesn't necessarily warrant a fox alert but just let you know nixed a meeting with president of the united states at the white house after a nasty tweet by president trump who is up on capitol hill meeting with 52 republicans in the united states senate. all we're told at this luncheon with the president who will make a one last pitch getting tax cut done, maybe voted on by the senate maybe this weekend. charlie gasparino is here. i know senator schumer, i know politics, both sides when they're in or out of power say things remarkably consistent to what the other side said, for him to complain about a measure was done in darkness and kept out of the sun -- >> sounds likes obamacare. neil: i can understand, politics is what politics is but is it your sense from the people you're talking to, that this elbow twisting on part of the president on capitol hill will yield results? or are those senators who are balking still balking? >> some are still balking. portman i believe is still balking. neil: well he was, he thinks if we keep it with the guaranties no more than 1 1/2 trillion in added debt over 10 years. >> johnson. neil: right. >> balking. corker. balking. that's two. they said no and throw mccain in there, that's three. neil: mccain is the wild card here. >> yeah, you never know he is a maverick. he might turn around say screw it, i'm voting for it. neil: a lot of these guys have not come out blatantly said, really daines of montana and johnson, nos on business treatment t. it could change with some other. >> if you parse through the garbage schumer threw at us, there is one thing that stood out that is pretty true this, is not something that anybody, tax reform plan anybody is really bragging about in the sense that it is particularly on the individual side. it is so warped or any republican is bragging about. hard to brag about a tax cut that gives to tax cuts to people who don't pay taxes and -- neil: the corporate thing they're rallying around, right? >> yeah, but the individual side is a mess. neil: i don't want to interrupt you. i want to pass along a comment we told you chuck schumer and nancy pelosi not going to the white house today to be part of this confab to discuss not only tax cuts but the latest government funding initiative, a funding measure to keep the government lights on past december 8. >> right. neil: but, mitch mcconnell, and speaker paul ryan are saying that if democrats want agreement on government funding bill, they will be at the white house meeting later on tuesday today. of course they're not. >> listen, it is their prerogative. they don't have to show. neil: they claim the president kind of started this. i have seen you send out nasty -- >> if you're going to stop government on every dopey thing that donald trump says from the pocahontas remark, which by the way i had to admit i chuckled. the four guys sitting there, the looks on their faces they were like, is this guy out of his mind? neil: yeah. >> he says these crazy things and, you know, this is matter of, this is new reality you have to live with every day. you have to still have to govern despite what he tweets, you know what i'm saying? neil: you think when push comes to shove, all this other stuff, and drama going to meetings, not going to meetings, we have two solid nos from two guys i don't think are really knows, if they get the business thing fixed up, they're yeses, not much to be done to do that, this will fail still? >> it serves close on some levels because i could see john mccain, susan collins and -- neil: susan collins so far is a yea. >> i could see them turning around, we don't like the state and local tax stuff, the fact they're getting rid of that deduction. you're killing people in certain states. neil: all about party at this point, right? >> suppose you lost all the house republicans in high-taxed states? >> fair enough. the group we're showing you, these six are ones that have concerns. doesn't mean they're automatic no votes. they have concerns. they have anything to the debt. i do note with dow at record highs, dow at record highs, nasdaq at record highs, market is not too concerned about their concerns. that they will get over their concerns. i should also stress the big hullabaloo over 1 1/2 trillion dollars in tax revenues, whether that is enough or whether we go into deeper debt, mask the fact, as things stand right now we'll add $5.5 trillion, on top of $1.5 trillion, normal government spending. no one on either side, republicans or democrats are whining about that. they want to make sure factoring in losing 1 1/2 trillion dollars in tax revenues over next decade. not $5.5 trillion already lost in additional spending now. that is a giant oversight on both parties part because we're well into the red. 1 1/2 trillion, at point we're going, folks. it's a rounding error. like charlie's paycheck. substantial. >> notice, keep buying our debt no matter what. that will be only time it is problem when they don't buy our debt. neil: donald trump, middle of a tweet to charlie gasparino. 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confirmation of jerome powell to become the next chairman of the federal reserve has concluded for the day. during the hearing here are some key points that mr. powell said he supports, such as rewriting the volcker rule. said the case is coming together for a dose rate increase -- december rate increase. prediction gdp in 2017 will finish somewhere around 2.5%, plus or minus a few points. 2018 gdp prediction will be anywhere between two and 2.5% but that could fluctuate. he says wages are not signaling the tightening of the labor market. he said there are no, none, too big to fail banks. he was grilled by sherrod brown, ranking democrat from ohio, impact of tax reform on the economy. here is the exchange. >> are you telling me the fed is not modeled any of this, any of the tax bill in these kind of tax cuts, what it will do to economic growth? >> senator, of course we're monitoring these discussions but it remains unclear, exactly what will pass. >> of course we rely on you for data all the time. >> respectfully senator, i don't think you rely on us to score fiscal proposals. that is not really our role and we, i don't have a forecast for you on that today. reporter: so the hearing is concluded. there is more work to be done. most people expect jerome powell will be confirmed by the senate to be next chair of the federal reserve. neil, back to you. neil: adam, thank you very, very much. not too far away mr. powell was speaking, president of the united states will be sharing lunch with 52 republican senators. all 52 are expected to be there for this thing. we don't know who will be sitting next to whom. we do know the president sup there on the capitol right now. his second visit in little more than two weeks here as he tries to strong arm for these tax cuts there. is concern he has to get every republican on board or at least 50 of 52 before the alabama senatorial election on fears, roy moore should lose that, i say fears, regardless views of the charges against him, that would bring it down 51-49. there are concerns how it treat businesses small and large to how it treats individual, rich, versus not so rich. we're keeping eye on that. they're looking to vote on this by this weekend at the latest. to try to expedite things to get it on the president's desk, to make whatever measure come out of senate be the one the house votes on, to move very, very quickly. whether all that is doable. is anyone's guess. that is the goal. meanwhile softbank is looking to buy uber but here is the thing, at about a 30% discount. as a hack cover-up questions are piling up. deirdre bolton on top of all that. wow, what a fall from grace. reporter: exactly. so softbank says, uber, you're worth 48 billion. you are not worth 69 billion. we still want to invest in but on terms cheaper for us, so that inherently there is less risk. so off the bank may end up with a 17% stake in uber. the people who would sell these private shares, these are people who in some cases, neil, they have been dying to get rid of this, this company is so plagued, hack of 57 million people, some drivers, some customers that is really tip of the iceberg. there are numerous civil suits out against this company, in various countries. it is restricted, uber is restricted to london. it can not function in london right now. neil: that is still a staggering valuation. reporter: still is. they were a first-mover, despite all the flaws the company is, has one of the biggest global presences but that said what is interesting about softbank's recalibration here, uber does have a huge competitor called grab in southeast asia which has worked better with regulators and maybe in the u.s. we say who cares about southeast asia but there are 600 million people there and grab is grabbing market share. they have all kinds of huge images, people use motorcycle as lot more. and motorcycles with sidecars. neil: passengers go in the sidecar? >> yeah. like a little plastic bubble. you are taking your life in your hands when you do that. neil: i know. >> at the end of the day this could bring new injection of cash from softbank, even though at lower price, could bring some stability. they want to put people on the board. they want to help it grow up. neil: someone will get very rich regardless. >> some people have. even people selling private shares, former employees, employees, investors saying we were right. this thing is a hot potato if softbank wants to buy my private shares, great. i will just cash out before anything else blows up. neil: they won't be needed an uber after that. >> they will not be needing an uber. neil: your stuff at amazon was awesome. reporter: it was really fun. neil: i think lucille ball, chocolate factory. reporter: anything you want to cover on chocolate and wine i'm all over it. neil: that is was great stuff. looks like mitch mcconnell walking into this event. 52 u.s. senators and president of the united states. those 52 are all republicans. the president also doing a meeting with leadership. but that leadership will not include any democrats. chuck schumer, nancy pelosi, after feeling offended by a presidential tweet say they're not going. so one-party rule as it is deemed on capitol hill continues but again republicans used to balk about the same thing when they were cooking up the health care plan. i don't know, back and forth they go, playing same games. whatever closes the deal. is that the deal? after this. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp they feel that they have to drink patients that i see that complain about dry mouth a lot of water. medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a 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[heartbeat] neil: he might be the deal-maker but his timing sometimes can be less than perfect, tweeting campaign targeting two democrats. >> right. neil: he targeted some in the room meeting with him today as well. hadley, how will that go with the corkers and mccains, and the flakes? >> i think the president has very important role to play here, internally as deal-maker and negotiator but externally. look at president obama's term in office, he was good communicating to the public from his bully pulpit benefit of his agenda across income levels and across america. we can agree or disagree with his agenda, disagree with some points, like if you like the plan you can keep it. neil: right. >> president trump can go to the american people. this is how it will benefit you. this is how i'm looking out for you. many americans would appreciate hearing from him on that subject. neil: ali, assuming the role of the gipper, what ronald reagan did to sell tax cuts not once but twice. in '81 when he first became president. in '86 when he had real reform that dramatically changed the tax code. this is nothing approaching that. this is dramatic for corporate rates. some for individuals, not as much. how will this be received, assuming republicans get this through and done by average americans. there is rush to get something done, americans might get annoyed. what do you think? >> republicans haven't set themselves up very well for this. they desperately have to prove they can govern. that is probably biggest issue here. how they will be able to communicate this to the american people that slashing corporate tax rate is best for middle-class americans. that they will emphasize the money saving the country. that it is saving average americans. neil: what if it does? what if companies, are free to do this, pour it back into the buying stock or that sort of thing? hadley would that be deemed a failure? would people deem this wait a minute, we thought they would hire workers or pay them more with this, and they're not doing that? >> oh, absolutely. just as when president obama made promises that his policies ultimately couldn't keep that was deemed failure for his agenda. that could happen here. that is the case, allowing greater competition for labor, with results of corporate tax rate cut. we seen this when they reduce corporate tax rate. it benefits workers in the form of higher wages. neil: it doesn't happen in all cases. ly how do you think the president is doing selling this? >> you mentioned earlier his tweets. he doesn't set himself up well for this when he is criticizing jeff flake and john mccain and even some of the top democratic leadership. so to your point, he might have written "the art of the deal" but how well is he actually doing that, applying his own words? i'm not sure. i think he is going to have results focused presidency or results judged presidency. neil: you have to have results. you have to have results. ali, final word. >> we'll see. neil: hadley, thank you as well. they are expecting results. they're going long results. they are bullish results. and? >>by the time they got me an answer, it was too late. td ameritrade's elite service team can handle your toughest questions right away- with volatility, it's all about your risk distribution. good to know. >>thanks, mike. we got your back kate. >>does he do that all the time? oh yeah, sometimes he pops out of the couch. help from real traders. only with td ameritrade. .. train to the president on capitol hill right now visiting the senators, 52 events draw, all republicans. he wants to get them all in line to vote for the tax cut package. he is also going to push this on the popular level going to missouri, for example tomorrow to make a public push for this. not exactly the same thing ronald reagan did for his, but again upping the ante to get those results. like bourbon including two prominent democrats. what is going on? >> the president would've liked to have the focus on this very moment right now up on capitol hill as he is rallying senate republicans as they hope to pass a tax bill. the president went up to the hilly couple weeks ago and house republicans did the same thing. now he's doing the same with senate republicans who are hopeful and optimistic they will eventually get this done. however, all of a sudden this attention on the back and forth he has had with nancy pelosi and chuck schumer supposed to come to the white house for an oval office meeting and that is no longer happening. you started this morning when the president fired off this tree. he said come in a meeting with chuck and nancy today about keeping government open and working. problem is they want illegal immigrants into our country unchecked, weak on crime and want to raise taxes. i don't see a deal. a deal meaning government spending. keep in mind they need to find a government spending deal by the end of next friday to avoid a government shutdown. shortly after that to me, schumer and pelosi put up their own statement saying they are not coming here at all. there is schumer on the senate floor. >> if the president who already earlier this year is that our country needs a good shot down, if the president isn't interested in addressing the difficult agenda, who wants to make the government shut down will work with those republicans who are interested in funding the government as we did in april. train a schumer and pelosi want to work with mcconnell and ryan. he was their statement, meaning mcconnell and ryan. democrats are putting government operations particularly resources on the battlefield at great risk by pulling these antics. the meeting at the white house and if the democrats want to reach an agreement they will be there. by the way the official word from the white house commissary stander saying the president's invitation for the democrat leaders still stands and encourages the none to put aside pettiness since updegrave dinning, show up and get to work. these issues are too important. we have focus for quite a while now. weak sentiment on taxes, taxes. however, december 8th or 9th whatever next friday is. now the top democrats are saying we don't want to meet with the president at all. we will meet with leadership on the hill and said down and talk to the president. train to the one thing that confused me that we will do what we did earlier when we met with leaders, was not possible because they went over the heads and directly negotiated an extension with nancy pelosi and chuck schumer? >> is referring to the deal in april there was a trillion dollars omnibus deal in which schumer said on the senate floor we didn't even need the president's health care. you remember in september, just bypass them. you had dinner at the white house a couple months ago and there is a bunch of confusion coming out of it. do they have a deal or not on daca, the dreamers. they said they didn't, so the one time they came here there was confusion about a deal. the president said today no deal and now they are not coming here at all. i guess it's a full circle and a whole lot of confusion between. tree into a lot of nastiness they are. thank you. as the president effective on this. the 52 republican senators can cobble together something sooner rather than later. by this weekend. the campaign director fort o'connell and political playbook co-author palmer. how likely is it a deal can be had by this weekend? >> it's tough, do or die time for senate republicans. clearly either a half dozen or so on the line trying to figure out if they can find a way forward. the republican leadership is trying to do small changes, tweets that could get them on board. it's very difficult. the senate is not aligned in the same way the house was to get something passed on tax reform in the same way. neil: so, when i'm hearing now, i'm thinking you've got to get everybody on the same page. that is all of the six senators were showing, not talking about the john seemed to have concerned about business treatment, and that they are worried about adding to the deficit. how likely can the president eased their concerns are cobble together a deal that will do that? >> there's no question there will be a nailbiter to get to 50. they should be optimistic because essentially rand paul is on board. they are generally over minor policy changes. neil: you don't think of them be no votes? >> i don't care that he can come i don't care that he can come up with the back stock and coming up the mechanism in case the revenue doesn't come in coming you shoot to raise back up. i don't personally like it because it's actually bringing out the possibility that we may not have the growth we are looking for. overall this is going to happen. only two people i'm unsure about year are: finucane. tree into democrats are potentially a few more be on board if the republicans stuck to the so-called middle ground position to address those who are concerned about the deficit that would call for taxes going up if the revenues don't turn out. >> i think it was certainly how appeared all over twitter there are democratic senators and deep red states, heidi heitkamp, joe manchin against the bill because it's just that bad and it doesn't seem like there's any compromises coming down the pike that we get them anywhere near towards voting this. ford is always more optimistic. i don't think it's going to have been. if you say that: finucane are the ones are really watching, look what happened with the health care vote. removing the individual mandate is a $300 billion gone from the plan. >> jessica, we know chuck schumer made the case they will hold the line to moderate until republicans can get 50 votes. to your point there is no democrat who jumps on board the republicans can prove they will get 50 votes. neil: when i look at this come that people get and they feel -- and not come as a year or send with the people you're talking that these concerns are overstated, that there's actually more support there than we know or appreciate? >> on to clarify a don't think the tax bill necessarily gets done by the end of the week. i'm not saying it's never getting done. has the most optimistic chances that they'll attack particularly compared to health care. i do think you are going to find common ground here. they are being told if they do not have tax reform to expected an election in the midterm election. nothing is more fearful and people vote a certain way than looking at their own reelection process. >> just to say i agree dealing aside from the beginning if republicans get something done that's good for the economy, it will be a failure just looking at cycles were due for an election anyway. let me say this. when you say people are going to get brave when it's no longer a brief moment, whenever and also spare, you have to look at public opinion on the american public does not like this bill. not because democrats are messaging so well and is in good for middle class and lower class. >> i totally disagree with you. here's why. americans don't like this though because the media doesn't understand how the economy it absolutely is better than what we have now. i think you would agree the individual part the individual part of this is pathetic. >> the individual part of it is pathetic because i would like to see everyone get a tax break. not just the middle class. neil: i'm giving jessica won just on principle. >> one of the things we miss you we miss here is small businesses file as individuals or 70% of business. >> ron johnson says it's not good enough for small business. neil: guys, want to thank you alter the senate will be joining me. thank you on your world today at fox news at 4:00 p.m. still don't know whether anything came that would make him more of a gas. he is on a 4:00 p.m. will be back in just a moment. the dow record high at 84-point again. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. twin do you know, i know it's all just a market a lot of doubts come a lot of come a lot of trades,, soap operas, drama and a key body and mind, and still either they are fully into this come out characters, but we've got records across the board, all the major market averages. write it down and pencil because they are all racing to new highs today much of that could be taxes are going to go down. the question is does that also mean the government could be shutting down even if they get it here, they are a long way from getting any type of agreement to keep the government lights on much past december december 8th. connell mcshane keeping track of all of that. how does it look? connell: that is what the meeting was supposed to be about. one of the points made by chuck and nancy as the president calls them if they don't have any time to waste. on that particular issue, the point they are making it the congressional calendar out of the spending deadline a legislative days as you follow our color coding here in the house headset into the december 8th deadline and it's honest very quickly. two big issues to watch, but as these talks presumably continue behind closed doors. one of the immigration and the other is defense. the fix included for the so-called dreamers. in the going spot here illegally as children. the number of democratic in the house to withhold support for spending if they do not have the six as part of it. on defense, you might see someone like senator john mccain be an ally of the president in pushing for an increase in defense pending, the democrats have come back as well and had a dollar for dollar matching nondefense spending. we know the last time we had something similar back in september, president trump surprise many people cutting a deal with chuck and nancy as they are being called, but by the looks of things you might see a repeat performance is unlikely, but it's worth pointing out in the president has the senate to get something done, not exactly mixing well with the effort to complete tax reform and at some point and the important point of view important point if you will need some support for democrats if he doesn't have it today. december he comes quickly. neil: it does. connell mcshane in the meantime, the markets racing ahead largely ignoring this, but it's out there as well and could have a more significant effect because any shutdown of the government running out of money and picking and choosing which bills to pay if you've ever been there, that's not a pleasant experience and that would be more immediate than any benefits of the tax cut, which the most generous would be the registered impact on americans. gary b. smith on all of those developments. but if we get the tax cut, a real battle growing the worst ending that people start falling into question with good faith and credit, the drill is happen before we've resolved it before in one case of getting our triple-a credit rating. what do you think? >> i think you would get a tax cut, that is good for the market. unfortunately, it is so watered down the positive aspects of the tax code will be billed as this is horrible that it got past him as you point out, we have this whole government shutdown. i was in d.c. for the last government shutdown and it was horrible, but basically because i was in d.c. i'm not sure the rest of the country was not affected. the mainstream media will build this as a horror show that people won't build it collect social security checks. public parks will be shut down. the market could take a huge hit if that happens. neil: you and i discussed it. we are very cavalier or do we blame, if you will blame republicans. couldn't you say the same about democrat, leaving that aside, your cry right minority members, democrats who would force that issue. the blame doesn't matter as much as the impact it would have on the market picking and choosing what bills to pay and all of that then it gets to be a problem. >> exactly. the market spinoff as you know almost a straight up with 20% plus on the dow since the beginning of the year. i think and i maintain a name early by the way that i thought it was running on fumes and about a month ago way too early, but so be it. i think now and also works on the flipside. if you throw this uncertainty in about one while the government be open, what will happen with the nations hold our debt, what will be our impact on treasury. neil: you know, ubs, the financial institution that these markets have not thought through in the tax cuts. in other words, as much as they run up and as fast as they have run up, they have not really taken into account taxes going into effect. i do want to give boring here, and that that is one of the things not appreciated. goldman sachs, be careful because they'll be disappointed if it doesn't happen and it's already going to her. where do you stand on this? >> first of all, i love when you get wonky. but i will tell you, my personal thought is that has been fact hurting again we have to go back. ronald reagan took a fairly long time to roll out what i call tax reform. there's still so many loopholes in here. it seems to be pointed primarily towards corporations as opposed to individuals even though that kind of the headline if you will. the good news what is there is already in the market. we will see if it gets passed in when it goes into effect. that the other thing. true into with it all goes into effect next year, then what? >> we don't see a shutdown, i see the market keep on rising and i guess i'll have to get back in a little bit higher unfortunately. neil: thank you very much. that is to avoid a government shutdown, but the tax plan could be leading to problems down the road that would be a good kind of problem to have, but not in the way that you think. i'll explain. how certain states are dealing with what could be good news and bad news. after this. that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor. i mwell, what are youe to take care odoing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. tree into a right to take a look at housing right now. consensus building here that a lot of folks in high tax states could see housing boomerang on them shopping for homes. isbn cohost lauren simonetti. >> the tax reform bill proposed by republicans and also the season has to do with all of this. home prices across the country was 6.2% from last year as of september. the biggest increase in southwest, seattle, vegas, san diego. authors of this report note that prices are due to continue to go up nationally, perhaps unfortunately pricing some potential buyers out of the market altogether. poor millennialist, first-time home buyers here. when you look at the latest it on the sales. that hit a 10 year high believe it or not was 685,000 units sold and not over. we are seen demands with prices getting boosted by a lack of supply and inventory. when we are talking about the season, seasonality with the next couple months could be slow for the housing market with the winter with folks to wait until spring to buy their homes. the market may be cooling off appeared in the meantime, let's appreciate what we have with a steady market, relatively low mortgage costs and we'll certainly see the nasdaq. neil: thank you to learn very, very much. my next guest on this issue by the way getting reports that north korea has fired another ballistic missile. this is remarkable in its become a south korean military source because he'll be the first time in a couple months i believe that could be struck to avoid this kind of thing. we don't know where exactly with a big presence around the south china sea with the korean peninsula has beefed up operations in and around there. again, a missile launch that is done very little to affect the market they are. before we got bad news, and the record territory about 162 points. we will change that, watch that for you. meanwhile, goldman sachs is warning that new york could use high earners. and then california and some other, john passout. good to have you. >> that's right. i'm very concerned about that. i've spoken to a number of people in the financial services industry in our state and a number of them have said we can just unplug or bloomberg terminals and plug them in in texas or florida or north carolina and pay a lot less in taxes. and so this is a great concern for new york and i think it's an unintended consequence of this tax reform bill and it needs to be changed because it will have dire impacts upon commercial centers like new york, high-tech state and i'm not defending the high-tech status of new york by any means, but i don't think imposing a sense of january 1, 2018 is good policy. a lot of people have already made their financial plans based upon the deductibility state and local taxes. neil: in the house where you are coming you came up with a plan to allow folks in those high-tech states coming yours included, to write off up to $10,000, the senate has no such proviso, said the senate plan is even worse. >> it allows a deduction of up to 10,000 for real estate taxes, which is a big issue in new york state. the problem is we have high real estate taxes, high income taxes than a high sales tax, so we have a triple whammy. albany needs to fix this, but imposing this on our state and january 1 is precipitous and uncalled for and will result in more people leaving our state and that's a real problem for new york. >> i talk to the democratic senate president, steve sweeney who is telling me they might be rethinking, just in new jersey reimposing the millionaires tax than it was very popular before chris christie came into office. because of this, and there may be not looking at reimposing it. what do you think of that? >> they have to make that decision, but that is what is going happen in places like trenton and albany, the big taxing politicians have to revise their approach. we are basically eating our seed con. when you drive up the successful entrepreneur to me you are also losing their philanthropy in their state. this is something that new york should change even if the federal tax reform doesn't go through. but i fear that the deductibility of state and local taxes will be adversely affect business legislation. new york is going to have to change, but again as i told you, i do want to have my constituents become the collateral damage in this fight between washington and albany. i really think we need to question this blow at a minimum by phasing it in over a number of years, not doing it all at once. neil: thank you for taking the time. in the meantime, that's a big issue, ron johnson wisconsin senator moore directed are not getting fair treatment. individual companies, small or medium-sized businesses that he says aren't treated nearly as well as big companies are. we want to carve out for those types of businesses that they are no votes unless that is change. they are behind the closed are admitting what the president of the united states two of the 52 republican senators who are no doubt expressing grievances with the tax package. they had the two node no votes. half a dozen others concerned about the debt and how that could add to it over the next 10 years, including the likes of john mccain, jeff flake, corker, you've heard some of those. they are not no votes, just concerned about. the president trying to these anxieties and make a stronger pitch that we're all in this together. senator johnson is going to discuss with this what came out of that meeting and whether any assurances have come their way to make to know yes. right now the dow was up 165 points. all the market averages in record territory jeff bezos is even richer. he is now worth in excess of $100 billion. he has appreciated its capital value by about $80 billion over the last week alone. i don't jeff bezos is concerned about the deduction issue. i am going there. that is my dust. more after this. -- that is my guess. more after this. nah. not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? 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when you hear that we are up about 16% to 18% in online buying and then we were last year at this time and traditional buying country store buying is up 3%, one thing undeniable as we are buying more than we were last year, right? >> absolutely. this is a story of entrepreneurs and small businesses of incredible holiday season from black friday through cybermonday, just in our platform along with 500,000 hours and we saw over a billion dollars grocery platform. gross merchandise volume. sales of the platform could what's important to understand if you look at the majority of merchants, most to shop irish partners and small business, so seeing small businesses compete with the hegemony big retailers is pretty incredible. you mention mobile earlier on the show. another trend we are seeing. in the past a lot of people browsing on their mobile device and transactions now catch. 64% of the gm sales on platform in the last four days have been on a mobile device. up 10% year-over-year from last year. neil: buying it on your device. >> that's exactly right. in the past would happen is used to browse and find products geared what is happening this technology is getting really great that it's almost easier to transact on a mobile device than a desktop. for example when a couple clicks using your cell phone number you can complete your entire purchase so we see mobile leading the charge. a story of entrepreneurship around retail and what's happening this technology has gotten so good and so inexpensive anyone who has an idea can commercialize the idea in a way that was impossible 10 years ago. neil: people are smarter now and they don't necessarily have to be much, much smarter because technology kind of does the smart thing for them. used to be if you wanted the convenience you when i had and risk paying more for something. but now if you're familiar with the product and want to do a comparison that's easy to do and if you want to know where what you want is, that's much easier to do. >> is two sided pit on the consumer side the future retail is consumer choice. consumers want to transact in a way most convenient for them. a lot of us on the go using smartphones and smartphones -- cell phones. small businesses, entrepreneurs 10 years ago couldn't afford to build to run my business can now do so for as little as $29 a month and so we are very bullish on what's happening with retail spirit retail is an incredible revolution and small business and not for behind it. neil: i saw mall santa on a smartphone. it was like wow, this is surreal. >> it's really good and only getting better. with really cool to know is on rp, we saw over the weekend, we found over a million dollars in a minute on a platform for 7000 orders her minute. we talk of small businesses to an amazon or wal-mart. they are doing incredible sales and technology is helping it here there's certainly something happening right now and spot if i loves that. neil: are you sure you weren't following my wife? thank you very much. very good union. >> thanks for having me. neil: even for those of us who hate to shop. we are waiting to hear what the game is for the dates expected to address the press. maybe after you get that in the gop meeting, maybe not. certainly the senators will be doing that. you can see the crowds already gathered outside. 52 republican senators in there. we are told not one no-show. we are going to your something. what that is in the ground has been moved to get people to move closer to a yea vote. others could be drifting back to a yea vote position especially given a deadline. they want to get this done by this weekend. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ neil: we can confirm it now because the officials confirming the fox news or korea has the we don't know where it wants, but we do know about them is the first time this has happened. if you want to attribute about a 40-point decline. if you want to leap on this, anyone's guess. in the last 20 or so minutes that could explain a drop-off. it could be other things as well. bottom line for the first time in a couple months, north koreans have done it again. no reaction for the president buddies in the powwow with senate republican leaders. to sort of gauge their support for a tax cut for rich could come as soon as this weekend. the national review senior editor fox news contributor jonah goldberg. first off if you don't mind on the north koreans, were you surprised? many were reading a lot into the fact that, you know, they had not done anything approaching us over the last couple months. they talk back and forth, but no missile launches. >> yeah, there is a sign that trout made some progress of china putting pressure on north korea on the asia trip and it seemed like things that kind of cooled down. but you know, president trump gets criticism for every now and then breaking the news cycle in getting attention which we. north korea, kim jong cfpb does it with listed missiles. he drives the agenda and they only have basically ballistic missiles as the way to do that. i don't think anyone should be shocked that kim jong un does crazy things, but what it means in the larger context as china has given a putting pressure on north korea which has a history of doing what the u.s. wants it to do, when u.s. is paying attention to a china is doing and when our attention is elsewhere, china falls back into it sort of protective alliance with north korea, so maybe that is part of the equation as well. >> you think china gets a heads up from north korea when it's going to do something like this? >> i would tank so. if such a black box, but north korea is ultimately in terms of economic terms in political terms to largely a vassal state of china. and so whatever north korea does, i don't think alicia so long they can just do whatever they want without a leave from beijing. this doesn't mean i think china is delighted with how north korea behaves on any given day, but you know, without china's support and protection, north korea becomes even more of a and you can see there being a coup in all sorts of things going on. they have to have some loop for the chinese i would think. neil: yeah, you would think. the president meeting with senators trying to cobble together some end sooner rather than later train to move ahead of the alabama election to make the rumor thing of the point. how likely is that they can get this signed, sealed and delivered by christmas? >> at the heavy lift. five or six senators who have not just big asks and stake out pretty positions that what they state that are contradictory to each other. when you have narrow margins in the senate. you saw that with obamacare. one senator once asked in the other one's not ask. difficult to find a compromise between those two positions if you need both of their vote when you such a narrow margin, and everybody has their gun to your head about what they demand. i still think the incentives are pointing in the right direction. this is what republicans are for pushing for tax relief, tax reform, tax cut and i think the senators understand their own best interests. it is just so narrow and so little given what you can offer them to sort of essentially in political terms bribe them for their vote. neil: there is by way of describing it. jonah goldberg, national review senior editor. joining us at d.c. the north koreans have launched a missile, first in a couple months right now i'm so they have broken this militaristic silence if you will. the market of 180 points to let 120 points. the only news was seen in the last 20 minutes that would explain not. more after this. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪ . . . . neil: want to show you something. see that little green dot here? that was the moment, maybe a little bit after 1:00 p.m. eastern time, we had word that the north koreans launched or looked to launch a missile. we lost a lot of ground on the dow. now up 95 points. we had been up close to 185. all the market averages come down on this development, no doubt. no other catalyst i can see here. eclipses talks of tax cuts when you have a guy like this is launched. one back in december, last time they did this was over japan. japanese were not enthralled with that. it complicates matters in this country, president of the united states trying to push republican senators to push for a tax cut just as we have alarming signals out of north korea they are pushing to still do crazy things. to trish regan. trish: thanks so much. a crazy man. we're all over it. breaking news out of asia, everyone. fox news just confirmed that north korea fired a ballistic missile. we'll have more on the developing story just in a few minutes. all this coming on the day the president sounding alarm on the economy warning republicans it is now or never for tax reform. he is is meeting on capitol hill with senate republicans n just a few moments we'll hear from some of those lawmakers right here on "the intelligence report." hello, everyone. a very big day. i am trish regan. coming up on today's intel, we'll talk some more about what we're seeing in north korea. meanwhile a key vote is about to take place in the senate budget committee. we'll have the results of what it means for tax ror

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