Transcripts For FBC Cavuto Coast To Coast 20170330

Apparently that seems to be falling on deaf ears. Connell mcshane breaks down what is going on, i guess the breakdown. Reporter big number, neil. 73 of people saying they want tax reform done. What is a day in washington, d. C. After the Health Care Bill failed, the president first blamed democrats. Today clearly turned on members of his own party we get to in detail. As we do, keep in mind big picture question what does all this back and forth within the Republican Party mean for tax reform . Can it still pass by august . Can it still pass by the end of the year . Can it still pass at all . With that let peace go to the ugliness on twitter, when he tweeted following. The Freedom Caucus will hurt the entire republican agenda if they dont get on the team and fast. We must fight them and dems in 2018. From Freedom Caucus member justin amash, said it didnt take long for the swamp to drain realdonaldtrump. No shame, mr. President. Almost everyone sub succumbs to the d. C. Establishment. Jim jordan had this to add. Well focus on doing what the voters told. This dill doesnt do that forget the blame. Do what they said. That is what the Freedom Caucus and republicans a committed to. Reporter a little more diplomatic than justin amash with the shannon bream. All this would make its way to him when reporters had a chance to question him what has been is happening. Here is what speaker ryan said about some of the president ial tweets. I understand the president s frustration. I share his frustration. About 90 of our conference is for this bill to repeal and replace obamacare. About 10 are not. That is not enough to pass the bill. Were close. What i am encouraging members to do to keep talking with each other until we get consensus to pass this bill. Reporter he he is obviously talking there, neil, about health care. Were really focusing on tax reform, whether it can get done at all, by august or by the end of the year. Keep in mind as weve been seeing here the last few days the calendar gets complicated. In the near term over the next month, a budget deal needs to be in place by 28th of april to avoid a government shutdown. If nothing else that has potential to push this out even further. The president has option, he talked about this, working with democrats on some of this. Well see. Neil thank you, buddy. Connell mcshane in the newsroom. Freedom caucus member david schweikert, on the president calling his caucus out. What did you think of that, congressman . I expect everyone is is stressed. Im one of the outlyers. I have a seat on the ways and means committee. Im a Founding Member of Freedom Caucus and im a yes on the Health Care Bill. So lives a personal responsibility trying to move constantly between the right and the left of our conference trying to close that gap and understand what brings people together. Neil how many were yes like you of the caucus . Were told that the overwhelming are majority, virtually save yourself and couple others were against it. Yeah, i wouldnt say virtually all. It was the majority. You also must understand there was a fairly substantial block on the left side. Often happens in these sorts of negotiations, when you move something for Freedom Caucus that they believed would be effectively in lowering premiums and opening up markets, some of our more moderate friends were concerned we werent covering certain peoples needs. There was constant sort of bell curve where the ends, tails on that curve were sort of moving the agenda. Neil so where does the agenda stand now . I actually think were making progress. Remember it has been one week of working through a couple things. Peoples hurt feelings. People now who do not sit on ways and means or energy and commerce. So they havent been bathing in the obamacare meltdown that is happening around the country and what is going on in the math. There are just, last couple weeks was their first introduction to many of these complexities. So you have a combination of moving policy, moving people, understanding, and listening to where their concerns are. Neil could you give give me a e frame on this . Its a gut call i understand. Yeah. Neil but what do you think . I actually cant give that to you. But for many of us trying to work on unified theory of you need the health care reform, particularly on that medicaid and our individual market were at same time were working on math of bigtime tax reform. At the same time neil why do you need them together . If it is so onerous on health care thing and more unity on the tax cut thing, why do you keep digging a hole on the tax cut thing . I might give you a human dynamic portion. Im someone more behind calculator trying to talk with people. Im trying to work on that. The joys of what we often are, but we have learned so much about where individuals members are and needs for their district. That same information, that same human intelligence is moved how you craft a pretty bold tax reform agenda. They do really run parallel to each other, at least informationally. For those on ways and means we need to do our work how you put together the big tax reform package but dont abandon trying to put the Health Care Debate to bed. Neil think about some of your members, not talking about you, you were open to voting for health care thing though you didnt like it fully, that they are hypocritical on this . They had problems with some features and whether it was going to compound the amount of money the government spends even add to our deficit, yet we hear from mark meadows who ostensibly runs the caucus, when it comes to tax cuts they need isnt be revenue neutral. Sound like youre talking out much both ends of your mouth . The Health Care Bill helped the deficit and also provided a substantial amount of tax cuts stimulus to the economy and society. From a pure economics driver side, those were really important. I thought we had a way to still cover those folks in our population that needed the help. Im on the other side. I actually am very, very concerned of the demographic curve of United States is now in with the baby boomer retirement. You have to maximize Economic Growth without waking up a decade from now and having blown up the deficit. Neil apparently the cbo shares your concern, sir. Already theyre talking about within another 30 years or debttogdp could be 150 of gdp. 75,7 now. So the direction doesnt look good. No. And if Interest Rates ever moved expense us, substantial economic slowdown, those numbers get even uglier. So youre balancing lots of things. I need you to think, i know this is complicated for a few minutes, a unified theory, health reform, tax reform, Regulatory Reform and also deal with reality like immigration issues. You will one day hear, hopefully in the near future, honest talking about mandatory spending, entitlements. They come into economic theory of growing and survival for this country. Neil are you worried your party doesnt have its act together, whatever you say about issues that were addressed welllaid out, within the divisions within the party, within its own caucus you guys are grabbing defeat from the jaws of victory. Well get there. Look, the legislative process is always filled with these fits and stops and starts. It is just the nature of doing complicated things with complicated math and the human element. Neil do you worry think folks polled on the subject dont think you guys are up to that task . Congress has never in its couple hundred years had real high favorability. Neil fair enough. It is nature, what is the old sausage making jokes . The reality of it, im from the west, im more of a libertarian conservative republican. If youre from other parts of the country, your constituency is very different from mine. How do i respect that understands the differences and find a policy that brings us together . Neil congressman, thank you very much for taking the time. Thank you. Neil i want to go to dan mitchell. He is a tax policy pro. Dan, i dont want to read between lines here but im getting a sense republicans could be letting this slip side away here. There are two big issues divide republicans, house, senate, white house. First you have this very controversial bored are adjustment tax causing a lot of angst in the business community. You have what might in the long run would be bigger issue, are you going to do tax reform, in other words, raise taxes here, lower others here or do a pure tax cut. You were talking about that new cbo forecast and it shows rising burden of Government Spending over next 30 years. That makes it hard to do a big tax cut if theyre not controlling spending. Neil think about what youre saying. You dont have to because you just said it. Comprehensive tax reform in an environment like that is dicey. A big tax cut after that is kind of dicey too. So what are we left with . We might get taxes cut and tinkered around the edges, nothing grand or what do you think . If i had to guess, nothing but a guess, well have this process go on a couple months. There will be no agreement. Trump will get frustrated and go back to his one really, really good idea from his economic plan. Lets just do pure corporate rate reduction. The make it so america is no longer driving jobs and business out of the country. Make us a magnet for investment and job creation here. Neil i dont know if that will do the trick though, dan. I see the need of that. And both sides, both parties agree on that but if you dont get a lot of individual rates down and a lot of it is buoyed and market has been buoyed at least market rate or corporate rate i dont know that is greeted on wall street favorably. Market is responding to business tax provisions. Replacing depreciation with expensing which is arcane issue. Corporate tax rate cut is critical for the long run economy. Neil youre right about that those things are issue. A lot of ones on wall street doing trading bidding up prices, theyre wealthy. They want a tax cut. Theyre looking at nation as interest and their selfish, dirty, greedy own. Theyre looking wait a minute. We welcome taxes going down and justifying these huge multiples in this market but we also want some, some sweat equity here. We want something for us. They might not get it. They might not be too happy with the fallout from that. Neil i would love us to have low i would love us to have lower marginal tax rates on households. That is great thing. That is why im a fan of the flat tax. Neil right. If you have to choose one thing, of all the controversies mean we have to simplify, i do think you will get the maximum bang for the buck by lowering the corporate rate. If you cut individual rates, that gets very expensive because the laffer curve effect isnt nearly as large as Corporate Tax provisions. Neil laffer curve, you cut taxes off to the race, revenue comes in, everyone is doing hunkydory, right . Well see. Dan, always good seeing you, my friend. Thank you. Neil to dans point and our congressmans point, this is not to put the death knell in this. What im telling you youre getting more signs. I will connect dots . My own unique, often times obsessive way. You have the speaker saying he doesnt know when they can get health care going. You have growing signs within the caucus, conservative caucus, Freedom Caucus, theyre at each others throats. One prominent member dissing the president. Not everyone is reading from the same choir book. You have the president really dissing them. This is an italian food fight, my friends. Not all of these folks are even italian. Well have more after this. Why pause a spontaneous moment . Cialis for daily use treats ed and the urinary symptoms of bph. Tell your doctor about your medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. Ask your doctor about cialis. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Neil all right. Getting email from people saying you know, cavuto you have to realize things take time. One trying to make it, analyze the. , a good sauce takes time. Which brings me to charlie gas. What kind of an italian are you . It is called gravy, not sauce neil we never called it gravy. Let me relate this point, that might apply to sauce, gravery, in super short window that is washington reality, midterm election, unless they move relatively quickly to stick to the august deadline to get a tax deal done, it aint happening. Probably not happening. Listen, there are legislative priorities. Neil nothing i heard today made it sound like it is happening. You have had a guest on make an interesting point. Maybe in the end they do with something appease market directly and maybe the economy. Neil i dont think that is enough. Corporate tax cut. Neil right. They might have to settle for that half a loaf. Neil if youve been settling on the whole loaf and expecting you will get it you dont want half a loaf. I like how we work food in. Of course italians, can sit around and talk about meatballs all day. Neil youre a meatball. Thank you. You realize there is civil war right now in the Republican Party. Donald trump just like started neil thats right. He is angry. He is equating the Freedom Caucus with democrats. We were at fort sumter right, a couple, last week with the health care vote. Now were at like, right at gettysburg or something. This is bad stuff. The president really neil i see youre doing a civil war thing. Yeah. I should have mixed metaphors neil food. Civil war and world war ii. Were at battle of the bulge, that wouldnt be quite right. You see what im saying. Neil theyre falling apart. I understand speaker ryan said i dont want to put a timetable as soon as you do people are disappointed. Mnuchin put a timetable with you. Neil right. Im worried it doesnt go to script here. You know how many legislative days they have. Nine days now, between now and april. Think about, think about what trump is doing . He is alienating a key constituency. I know they did something he is really mad about, and a lot of republicans are mad, Freedom Caucus, he needs them for tax cuts. No democrat will vote, maybe a few might on the edge. You will get your tax cuts passed based on republicans. He went to war with people he needs to pass the tax cuts where there is broad agreement. That is bad move legislatively. Neil i hear you. Maybe him and bannon have some plan. Neil the idea seems to distract, distract. So if youre a democrat or those not keen on what donald trump want do, you focus on russia thing, you focus not saying some is legitimate. Great segue to the russian thing. Neil that is the way i roll . Ive been doing this for how many years . 300 . Neil charlie, right . Yes. But anyway, we do know that the russian thing, the Russian Investigation is heating up. You heard, you heard those two senators yesterday talk about it. Here is what we do know, that it looks like flynn, Michael Flynn, the former National Security advisor will be a key witness in his whole probe and this is what his Legal Counsel is telling us, that he himself has not met with the committee, despite the fact they met with him. But his lawyers are meeting with these committees. Meaning senate intel committee. Neil what do you read into that . Is he emerging i dont know what he will say. We cant surmise what is in his brain or what he knows, be very clear here, Michael Flynn was part of transition team. He became a short time, National Security advisor. He knows jared kushner, trump soninlaw under investigation. Knows paul manafort, former Campaign Manager apparently under some investigation. This is one guy that can theoretically, if you think there is a problem here, im not saying there is, i think a lot is overblown neil could lead to you others . He is a key witness, there is no doubt. What he says and what they give him, does he cut a deal, does he not, i have no idea. Neil what do you make of i will raise this with my next guest as well, if you were expecting okay im going to return your good favors, president putin, instead we havent seen anything of the sort out of President Trump, still put off meetings with one another, apparently putin wants a meeting, we might see one, funny way of showing youre returning a favor. Listen there is a lot of smoke here. There is no fire. We should point out to viewers, russia is not enemy state of the United States. No matter what we think of the guy runs country, he is thug, former kgb agent, starting war, yeah, yeah, this is not isis were talking about. Were talking about a country that we have open diplomatic relations with. Neil but you would still be pursuing the role they played in the election. If they played a role. Theyre not an enemy state. By the way not totally absurd for trump or anyone to say we worry about chinas growing influence in the world. Neil right. Lets do a reverse what nixon did. Nixon kissed up to china to block russia. Lets kiss up to china to block russia. Neil you sound like a communist. Im a globalist according to my fans on twitter. By the way i was born in the bronx. That is a global community, right . Neil north global. Charlie gasparino, Fox Business Network Senior Correspondent extraordinaire. To that point some of the fine ones he is bringing you, all those probe allegations back and forth, prompting a russian reset you have a funny way of seeing it as charlie pointed out not as if the Russian Administration has been singing of prayses with russians or talking about deals or easing sanctions or any of that House Intel Committee member, congressman chris stewart. Congressman, similarly were hearing Vladmir Putin does want to meet with donald trump but, the trump folks keep pushing it off. Maybe it happens in finland or nato summit. What is going on here. Oh, my gosh, neil, there is so much to talk on this. Let me start with the big picture if i could. I came back from moscow last fall. Went there on intelligence meetings and briefings, and i came back and said, russia will mess with our elections. It was just an obvious thing they were going to do. It is very clear that they did. But i also said they dont care who wins. To your point, and to your question now, is there any evidence at all that our president , President Trump is going to prefer them or make things easier for them . Absolutely not. Quite the opposite. He said he would rebuild the military. He said he would put americans interests first. One the most important thing we can do is Energy Development that is the greatest economic pinch we can put on russia. That is greater than other sanctions. He clearly will do that anyone who thinks donald trump is friend of Vladmir Putin is neil is it your understanding then, congressman, it is unlikely the administration will roll back any sanctions already in place . I think it is very unlikely. Very Unlikely Congress would go along with that even if he tried. I dont think that is his intention. Neil do you think all the heightened scrutiny who knew what or said what to whom regarding russia and trump team, whatever communications they might have had prior to the election it behooves the administration to be extra tough . I think it probably prods him in that direction. But it behoove all of us to be honest and fair about this. My heavens, some. Insinuations you heard you could make the same claims against thousands of Business People working in russia. If you are working in russia you med some of these individuals, you just had to have. One of the things i love about the intel committee, not only is it very serious work weve done it in bipartisan fashion. Neil maybe in the house there is doubts about that because the senate seems to be going its own way. I dont know if im rover reading it, do they share whatever intelligence theyre coming up with . We do. There is interflow between the two committees as there should be. Many of us want to, i think temper things a little bit now. Neil yeah. Im encouraging other members, be careful what you say. This is important work. The American People expect us to be responsible on this and not overly partisan or overly political and im afraid we moved in that direction and it doesnt help with the investigation. It riles up the American People for things i think at end of the day, dude, that was much ado about nothing. There wasnt much there. Neil you know what . , some one of your stature and power can use the term dude, which i deeply admire, congressman. That is my air force days. You have got to forgive me. Neil im impressed as well as your service to this fine country. Congressman, thank you. Good to be with you. Neil you might have seen a press clipping or two about ivanka trump taking a nonpaying job in the white house. Everyone is aghast, aghast . Were they aghast when john kennedy told his own brother as attorney general. Rules were put in place. The media seemed perfectly fine with that. As if it a lot of democrats have amnesia, after this. Yes . Please repeat the objective. Thrivent mutual funds. Managed by humans, not robots. Before investing, carefully read and consider fund objectives, risks, charges and expenses in the prospectus at thriventfunds. Com. Kevin, meet yourkeviner. Kevin Kevin Kevin Kevin Kevin Kevin Kevin kevin kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. Neil all rightocks right now, it really all hangs on the white house, right and whether the president can wrestle enough republicans to support sweeping tax reform or so hopes. The dow is up about 50 point right now. Will investors see the clarity . Blake burman at white house. Hey, blake. Reporter hi, neil. President every thursday has standing meeting with top economic advisors. This morning steve mnuchin, treasury secretary, and im told gary cohn was part of that 11 00 meeting earlier today. You have to imagine it was taxes, tax reform, how to go about it, the size and scope of it, the politics behind all of it, would be on the forefront and on the table during that meeting this morning especially under the realm and under the scope what played out here on capitol hill and the white house with republicans kind of going back and forth with each other, who is to blame on health care. The president first sent out the tweet this morning regarding the Freedom Caucus and Freedom Caucus members have not taken that too lightly. White House Press Secretary sean spicer having a briefing in about an hour from now. We anticipate that to be part of that discussion as well. By the way here at white house, another advisor added to president s team officially. That of course being his daughter, ivanka trump. She is now officially a government employee, not taking a salary, advisor to the president. As she has been since day one of his campaign. But now it is in an official capacity here at the white house. That having some skeptics saying well, maybe the trumps are a little bit too close to their businesses as ivanka trump win not divest to her companies, rather separate herself from her company. Neil . Neil hmmm, blake burman. I want to get the read on all of that and ivanka role in this Administration Whether it is too cozy, a little too, i dont know too much in the familys interest, financial and otherwise. Noelle nikpour joining us. And jessica deloach. Jessica, there is a long history of president ial families kind of running things. The most recent example, in fact they developed antinepotism laws since when john kennedy chose his younger brother bobby to be attorney general. But we have seen examples since where siblings, children, also play a role. Is that bad . Well, play a role of sorts. If you want to call that recent, that is one thing. What were talking about here not the same thing with what happened to the Kennedy Family. Were talking very close Family Members, have very close shared business interests. Everything has been confusing how connected they are to these businesses. Neil wait a minute. I know youre young and all that stuff, and so am i, appointing your brother attorney general and the vast kennedy holdings, they were one of the rich etf families on the planet, you could make argument as attorney general he might look the other way. We know that wasnt the case. I want to give the benefit of the doubt. Youre not giving benefit doubt here. What we know, rules have been put in place. This comes down to optics. I think Kennedy Family took heat with that. The trump family will. If you want to make connection fine, do so. Well see more bad press for the trump family because everything looks too close. Also too, there is a huge difference between Bobby Kennedy and ivanka trump. Start with their academic background, their experience. You can not compare these go people. That is not slight at her. Neil theyre about the same age. Theyre not too far apart same age. Go ahead i understand where youre coming from. There are a lot of people who are my age that build rocket ships and i dont so. Neil i dont know what you mean but im still focused on italian sauce versus gravy. Noelle nikpour, i want to go back in time because rose cleveland, was doing Grover Clevelands job as first lady, helping him out until he married later on francis cleveland. Woodrow wilson has his own daughter margaret serving as president ial hoses is until he remarried later in his term. Dont get me started on martha jefferson, working, i covered this, i remember this, she served and did a lost functions on behalf of her father at time. So i guess im saying is, i see it on the right and the left. Should we make a big deal of it at all . You know, neil, of course im going to say no and im going to tell you why. I would kill to have someone like ivanka trump working for me for free. Look, she is doing this for free. She is accomplished. She is actually wellthoughtof, a lot of people liked her, democrats and republicans alike before she was underneath her fathers wing. Let me tell you something, this is selfmade businesswoman. This is a working mom. I can go on and on about qualifications. Neil when youre part of a billionaire family, the selfmade thing can push it. I understand what youre saying. But patrice, when i look at this, im just thinking, the appearance is, jars people, but should it here . I dont think it should. I mean the doj blessed the ability for the trump, for President Trump to nominate or appoint close relatives to offices. If he thinks that his daughter is going so be a great policy advisor on things like womens workforce issues, women in the workforce and families, i think it could be a good choice. Neil but what about not making a formal role, paid or unpaid or otherwise . Go ahead. Richard nixon relied on the council of his brother. He didnt serve in any real administrative role or position here you but he certainly relied on him as part of that core Kitchen Cabinet but why do you have to make it so obvious here . Well i think it kind of undercuts some of those senators, for example, Elizabeth Warren who sent a letter to the Ethics Office trying to find out what exactly is ivanka going to be responsible for, and how insure accountability on her part. So i think there are a lot of privacy advocates, a lot of advocates saying this is good thing. It is increasing transparency. Insuring she will hold herself accountable to highereth i cans in office ethics. Neil you hope so. Hillary clinton served integral role serving up Health Care Plan that was shot down but it was unusual role for a first lady to play. Where do you draw the line whether that is the role of a spouse, having great influence or assuming a position that is much more than that . Well president clinton took some heat for that, for having his wife neil absolutely. It didnt go over very well with people. Neil how did you feel about it at time . You know, i was a little young at the time. I will tell you, i can tell you what my grandmother and my parent said. How about this. It is important to figure out exactly how she will be held accountable. Yes she is taking oath. She will play by the same rules Government Employees will as well. How do you hold a Family Member accountable . Also we still dont know exactly what role she will be playing. Neil that is new office, right . We never had office like this, nicole, am i right . Noelle. One of the things i will applaud ivanka, she doesnt have to, she will expose her financials. She wants complete transparency. That shows me somebody that is very sincere and wants to be authentic and extremely transparent neil would you cut it off at the child or the spouse . Im thinking harriet lane, niece of our only bachelor president james buchan that, played a first lady role at time because it was niece. Not a direct daughter or Something Like that, what do you think of that . You know, neil, my point of this, this is my view, she is already going to be involved. She was very high up in the campaign. We all know that donald trump neil dont make it so obvious. Dont make it so obvious to draw attention. I think it should be obvious she should go ahead and give her a role. She will be closely tied. She will be in the west wing. Go ahead and make it transparent and open to americans. Neil guys, i want to thank you all. Just having good fun on this issue here. You dont want to get me started on the Millard Fillmore administration. Oh more after this. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4. 95, you can trade with a clear advantage. Or how high the pollen count, flonase allergy relief keeps your eyes and nose clear. Flonase helps block 6 key inflammatory substances that cause nasal congestion and itchy, watery eyes. For relief beyond the nose. Flonase. Neil okay. We were going to have a lot more upbeat music for this 401 k special were running until we came across the statistic shows 41 of boomers have zilch when it comes to Retirement Savings. So had it been, you know, much, much lower, of course it would have been like more dramatic, more peppy. Nothing to feel peppy about. People that need it closest to retirement are no way ready for it. Financial advisor chris hogan what you need to do to get ready now. Chris, a lot of folks in my age bracket are not ready for the time when they want to kick up their feet. What do they do . Well, i think, neil, the first thing they have to do is truly understand whats at risk here . You know, there has to absence of urgency, as well as an understanding what you can do. So i would encourage people in that area to start to really take a hard look at your lifestyle. Where is money leaving you the most. Look back to the budget. You have to get serious about it. The road map you really controlling your spending. Neil you know, when you write about this, retire to inspire, all that, is there a sense people throw up their hands, they figure, i have to keep work, keep working . Say youre in your 50s, youre in this position, you dont have a lot of time to address savings let alone trying to get a rein on spending here. So what you do you tell them . One thing to tell young person when time is on their side. What do you tell people in that age group . In rewriting the book retire inspired. I want people weak up to understand regardless of your age and stage there are things you can do. For your example, someone in their 50s, people are living longer due to health care or technology. They can live to 80, 90 years old. So there is a lot of time left. Still taking control of your budgeting, looking at your lifestyle, downgrading lifestyle. Getting rid of a truck payment or car payment. 2 or 300 a month going into a 401 k or roth ira truly will end up becoming something to provide for you and your family later. Neil do you tell client, put into the market . It is one thing when youre in your 20s or 30s, you say the market is your friend over time, but less time you have, it might not be . Weve had multiyear bear markets. Markets could just stay flat. What do you do . Well, i think whenever you start to really look at the stock market, i liken it to a supermarket. There are a lot of things you can get in the supermarket, some things good for you and things not good for you. How is how i look at the stock market. If we look at his to call averages, meet up two best friends you can have, compound interest and time you can he grow money. What i caution people about doing jumping in and out of the market. That is where you put yourself at risk. What you have to do is think of investing as a longterm kind of solution to your situation and where you are right now. Neil that is wellput. Did you do audio book of retire inspired . Yes, sir, i did. Neil you have an amazing voice. You can sound threatening. You either start saving or i come to your house right now. It is that threatening. Neil, more on encouraging side, not the threatening side. Neil im telling you, you have a godgiven voice like that with your very sound message, you have a onetwo punch. Chris hogan, retire inspired, common sense stuff. Never too late to start even though if youre in your 70s, youre just starting it is too late. Meantime we will take a look right now at samsung. Were getting reports of strong orders for this new phone. But again that depends on having nothing like the problems with the last phone. After this. You totanobodys hurt, new car. But there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. Theres nothing more important than your health. So if youre on medicare or will be soon, you may want more than parts a and b heres why. Medicare only covers about 80 of your part b medical expenses. The rest is up to you. You might want to consider an aarp Medicare Supplement insurance plan, insured by unitedhealthcare Insurance Company. Like any Medicare Supplement insurance plan, these help pick up some of what medicare doesnt pay. And, these plans let you choose any doctor or hospital that accepts medicare patients. You could stay with the doctor or specialist you trust. Or go with someone new. Youre not stuck in a network. Because there arent any. So dont wait. Call now to request your free decision guide and find the aarp Medicare Supplement plan that works for you. Theres a range to choose from, depending on your needs and your budget. Rates are competitive. And theyre the only plans of their kind endorsed by aarp. Like any of these types of plans, they let you apply whenever you want. Theres no enrollment window. No waiting to apply. So call now. Remember, Medicare Supplement plans help cover some of what medicare doesnt pay. Youll be able to choose any doctor or hospital that accepts medicare patients. Whether youre on medicare now or turning 65 soon, its a good time to get your ducks in a row. Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. Neil all right. The man with the big laugh is having a the last laugh. Right now the second richest individual in the planet, jeff bezos, amazon second only to bill gates. His net worth over 75 1 2 billion dollars. Shares are at record high right you now, up almost 17 in 2017, up better than 50 in the past 12 months. So, that is why he is always smiling. You can blow a lot of it just on interest on rocket which is nice. Samsung, the galaxy s8 orders, pretty strong we are hearing. Bixby is part of its appeal. Apparently like all the others, apple has siri, amazon alexa. Microsoft court cortana. There is hard butten for this to get it going. They built hardware to make you use this thing. To a marketing expert what she makes of that added appeal. I want to get to bixby because there are so many competing technologies this has neat aspect to it. You can shoot a picture and can give you a description of it, where you got it. That is a new wring kel on this, isnt it . Yeah, it is. Bixby is exciting because it takes Artificial Intelligence to a whole different level, right . The theory, siri, core tan bixby will be able to integrate a lot better. Take a selfie. Open a photo gallery. Send a contact to bob. It is meant to be a lot more integrated. You can switch back and forth which i think is really nice. You can move from voice activated commands to touch and you cant do that on any device. Neil young people use that feature on these phones, and not so much older people. Yet, when older people like myself suddenly find out there is this technology that can do that they are just startled. Is that true . That it is meant to draw in younger people who might find something as friendly as this, Research Tool and they will use it more . They might be more inclined to buy these devices . I think you would be surprised actually. Certain features obviously appeal to millenials. The way Ai Technology is growing especially bixby, i think it might appeal to more of the sort of the baby boomers and neil interesting. It makes it easier to use the smartphone, right . If you couldnt figure out how to do something now. It will do it for you. I think this is a move in the right direction. Neil how do you think this phone will do . We know what happened the last go round for samsung. Obviously dont want a repeat of that. Just a single incident could torpedo the company. What are you hearing . It is interesting. People are excited. They know that samsung knows that the stacks are high. Forget like, hopefully not blowing up, right, instant combustion like they had issues with their note but i think what is interesting, samsung has done a lot more testing on this one. They know the stakes are he high. I think people are excited because they understand that. Samsungs really pulling out all the big guns for this one. Neil back to bixby, all the other technologies, i think the key is making it friendly and useful so people use it again and again. It is built into this phone. How much of a difference does that make . I think it is interesting. Im not sure that it will make a huge difference right away to be totally honest, neil. He think it will be a progression. When people get it, it will be cool, do a cowell of things. It is not integrated with all the apps. It is a handful right now. What is more interesting as it grows and more people use it where it becomes more integrated where youre able to control the thermostat with your phone or instigate even more things. Integrate more things. That will take time, 12 to 24 months after it is comes out. Neil thank you very much. Handicapping not only who buys phones but whether a tax cut giving them more money to buy such phones. After this. Great panther silver produced approximately 4 million ounces of silver last year at their 2 mexican mines. Their recent mine acquisition in peru, once fully operational, stands to increase their production up to 75 percent. Great panther silver show that republican can unit and by attacking the freedom twitter, i dont think hes helping in any way, shape or form. Neil clearly the bloom is off the rose here. First that he was the president in trying to understand and strong conviction that is many Freedom Caucuses and now his patience has worn thin when aides reportedly came back and said, this is what they rejected, mr. President , something that was 80 to 90 of what they wanted. Now hes frustrated. What happens when he wants support on tax legislation . He first needs to work with them on health care. Its difficult to see this administration moving forward on taxes or infrastructure when they cant even get republicans to unit on health care. Neil why do they keep pushing the health care . Thats what i dont understand. That to me sounds like a fruitless fight. If you listen to House Speaker paul ryan explain it, he says that working on health care before addressing tax reform makes tax reform easier. It frees up about a 100 trillion that the house that is work with. Neil it doesnt make sense in the real world sense. Why would you move on with bigticket issue without first addressing the largest issue of all. Noil neil i agree in that sense. We know theres broader agreement on parameters of tax cuts. I dont know if there is. Neil really . Interesting. Reduce the coronet tax rate, beyond that theres still major disagreements on whether there needs to be a revenue neutral tax bill and the caucus has come out in opposition to border adjustment tax. Theres key areas that the white house and gop leadership disagrees disagrees with the more conservative on when it comes to Infrastructure Spending and when it comes to immigration. They really need to hone in on health care, fix this issue first and then move onto focus on those other bigticket priorities. Neil all right. I dont know. Do you think its going to happen . What are your sources telling you . I am definitely cynical about this right now but i do think that the president s tweets are a bit unhelpful in cultivating that sense of unity that republicans are desperate for right now. Neil yeah, who knows . Thank you very much. Good stuff. Thanks, neil. Neil the market is up 33 points even with the dow being down the fact of the matter is all of 2 away from its highest back on march first. The markets seem to be holding their own convince that they will see big tax cuts. But if they are not big, what if they start out with Corporate Tax cut and will the markets be okay with that that they got a lot of what they wanted just not the individual tax rate . Former bush 41 Economic Policy director todd, what do you think of that . Well, i think the market would be quite fine if we had the business tax cuts. I think quite interestingly, neil, we spend a lot of time of how would we pay for tax cuts. I would argue that the wonderful rally in the market, 10, 15, 16 has in part already paid for tax cuts because every time someone buys or shares sells shares neil thats an excellent point. The market has done a lot of the financing for you. Well, thats right, neil, im here to make excellent points for your show. Im not here just to gossip about things. Neil youre the expert. I dont know the markets would be okay with just Corporate Tax relief if the individual rates arent addressed because the flip side is a lot of those folks who trade stocks and invest on people they want a tax cut for themselves, dont they . The fact is if you really are concerned about if you are concerned about the wealthy, they do benefit largely from the stronger equity market. Neil absolutely. If Corporate Taxes are lower, thats certainly gets embedded in higher stock prices. If its business tax, if it applies not just to corporations but to proprietors and llc and the like, many people benefit and get income in that form. Neil not comprehensive tax reform by that definition. Something sweeping or 1986reagan like and the only way you can explain a runup like this is that expectations we get that. If we dont, i dont know. Well, look, right now we see that President Trump is not someone who can snap his fingers or tweet and automatically get things done. Its quite a struggle. This may be a peacemeal approach. Specially Republican Congress demonstrate that they will at least do something about the anticompetitive effects of Corporate Tax systems. Our Corporate Tax rates are much higher than trade competitors and whats ironic about this, neil, all the trade competitors laughed at ronald reagan, yet in the 1990s they realized, oh, my gosh, reagan was right and they slashed taxes and their Corporate Taxes are far lower than ours and we better catch up. Neil interesting. Very good seeing you again. Great pob to be with you. Neil the markets are clearly anticipating tax cuts. Whether they are behind the Federal Reserves thinking, you have to sense where things could be going when the fed president John Williams was talking to maria bartiromo. Look at that. Right now this view that my colleagues have expressed in our various projections that three rate hikes overall for this year seems to be about right. I think theres upside risk, not risk but upside potential if to the economy. Maybe four rate hike this is year depending on the economic data. Neil all right, now, was he then saying that tax cuts would be the reason for that . In other words if that could boost the economy enough. We will see. What do you make of what he is saying there that one way or the other we are going to have to raise rates . We might have to raise them even more, the tax cuts, thats me making the leap, not him. Well, you know, i think at the end of the year when yellen and many other fed representatives said they were expecting three tax cuts this year, they obviously its been priced into the market and a lot on great economic data. Neil that would be by the tax cuts or not . A little bit of that. I dont think it was fully priced in there. I think there was the foundation of a stronger economy. We see everything from jobs, housing, Consumer Sentiment on the rise. That was the foundation for those comments. I think now they are kicking it up to four and leaving it open, i think all rides on the back of tax reform, are we getting this year or are we not. It would have to be this year to kind of justify the markets to keep running up the way they are right now. Neil what do you think of that . They have to get it this year to put a stamp on this rally . You know, neil, youre almost a hundred days into the Trump Administration and very lit toll show for policies and investors expectation is very high. Investor optimism is 6year high and based on the assumption that we are going to get tax cuts sooner rather than later. Look the economy is better than we probably expected it to be at the time of the election. Gdp revisions were better, unemployment remains better. So the reports of my death are greatly exaggerated as twayne said. You need to see those to be happy and not disappointed and nobody wants a disappointed stock market. Neil kristin, do you get a sense that if we only get the Corporate Tax rate cut, the markets would be offset and one thing if personal rates are cut as well, not minimizing that, those rate hikes could offset the joy that a lot of individuals would presumably be feeling . Yeah, i think it depends on how long they wait. To your point from the last segment, i do think at this point if we just did corporate reform and there wasnt much of a plan for income tax reform, i think the markets would be disappointed. You know, as the other guest has pointed out, the markets have run so much at this point and pes are very rich and they need to be justified. In a week and a half when we get q1 earnings season, Companies Report forking the first quarter, that could be a distraction. We are expecting the highest Revenue Growth rates since 2011 but i think you can really only distract investors for the next quarter or so and always fall back on anything thats out of the Trump Administration. They still will be looking for the Corporate Tax cuts. To the point of Federal Reserve f they continue to raise rates and tax reform plan isnt good or not what investors wanted, youre certainly going to see a pullback here. Neil handicap the rest of the year for me. Then what . Yeah, neil, the timing is so critical. The congressional calendar is the enemy of the administration. The window is narrowing to get all of these things done. Thats the real issue that investors havent quite focused on. Whats fascinate to go me although the trump agenda appears to be losing moment on all and you see the trump stocks, financials, small caps losing momentum, the biggest beneficiary of tax reform is a company like apple who is 250 billion overseas. Its a huge benefit. They could bring that back through lower Corporate Tax cuts. Investors think this is going to happen. They just think its going to happen in the second half of the year. Again, we will hold out hope that this will come to fruition but the markets may take a pause and may want to see evidence before moving higher. Neil all right. Final word, great seeing you, thank you both very much. My pleasure. Neil certainly a lot of distractions getting in the way to have agenda. You have the whole david nunes thing and House Intelligence Committee and whether theyre going to be work in sync with the senate Intelligence Committee and they are not right now. Peter barnes with the latest on all of that, hey, peter. Putin, fake news, propaganda, senate Intelligence Committee hearing wrapped up but with mostly academic russians it having so no firm findings from any active u. S. Intelligence officials today but the committee is digging. Today we have made 20 requests for individuals to be interviewed by the committee. As we stand here today, five are already scheduled on the books and probably within the next ten days the remaining 15 will have a scheduled date for those individuals to be interviewed by our staff. Now, the top democrat on the Committee Mark warner said it is seek to go determine if theres an actual fire here. He says so far, its just, quote, a great, great deal of smoke, neil. Neil peter, i know youre leaving, i still cant believe this and youre going to retire which is weird because youre still a young guy. I am. Neil are you leaving because you see washington going to hell in the hen basket . Absolutely not. Im leaving for the strong woman in my life and my grandkids and my kids who are all in boston and we have been planning for some time. Im retiring from, i think, television news. Like you said, man, im too young to retire. I have to get a job. You have to hook me up up there. Neil i think you were at c cnbc and you came over to fox, where did the years go . What happened . 25 years flew by. Its been a blast. Backstage pass to history down here. Great privilege to be able to do this and i just appreciate it so much and i appreciate you and my fox business family and fox news family and thank you for everything. Neil we love you, youre a genius. You could write a tellall back on the Washington Bureau if you wanted. Any ideas . [laughter] neil it could be a kids book. Bruce becker was involved in the maria show, he smoked me. I had no idea that was coming. Good job. Thank you to my team here too. Neil that is up on our site if you want to watch that, but we wish you well. I cant believe youre a grandfather, but i will play along. Much success and very good memories. Peter barnes. Can you believe that . All right, more to this yes . Please repeat the objective. Thrivent mutual funds. Managed by humans, not robots. Before investing, carefully read and consider fund objectives, risks, charges and expenses in the prospectus at thriventfunds. Com. May not always be clear. But at t. Rowe price, we can help guide your Retirement Savings. So wherever your Retirement Journey takes you, we can help you reach your goals. Call us or your advisor t. Rowe price. Invest with confidence. With e trade you see things your way. You have access to the right information at the right moment. And when you filter out the noise, its easy to turn your vision into action. Its your trade. E trade. Start trading today at etrade. Com neil all right, Charlie Gasparino is back with us on casino mogul. We currently has stock, excuse me, nasdaq, but sources are telling the Fox Business Network that as early as september mr. Winn is expect to go move to iex. This was the Stock Exchange that was featured in flash boys, the book about High Frequency trading and mr. Wynn was an early investor in this exchange. This exchange was set up to prevent investors from getting ripped off by High Frequency investors and High Frequency trading and what hes going to do, we understand, move his list to go iex, territory of nasdaq and the new york Stock Exchange for listings. What essentially is a listing. Thats when company goes and ring the opening bell and list shares to be traded and priced on exchange. Its a very important thing. The exchange basically controls the pricing, sets the pricing, tells the whole world what a stock is worth. Its a pretty big thing for the iex to get a Major Company like wynn and from what we understand this is nearly a done deal. It could announce as early as september, but we understand that mr. Wynn has told the nasdaq that this thing is essentially a done deal. Hes just waiting for iex to get the approval which could be done as early as september and when that happens, iex gets the wynn casinos as the first major listing. Neil its the whole argument was that everything was in this rapid time, individual investors would feel like stunned. Right. Neil wouldnt that be feeding feeding the beast . No, they are moving to the exchange that lewis portrayed as the good guys in flash boys. Iex which is run by brad neil great democratic stall what was fascinating is when this came out, wynn was vocal. Its equal to insider trading, unfair advantage to the big guys over the little guys and basically said, i may move my stock there. From what we understand now, its basically a done deal and as soon as iex gets Regulatory Approval and i hear thats coming in september, wynn will likely be its first major listing but we will keep you up to date on this. Pretty fascinating story. Neil others presumably would follow. First big fish. Charlie youre the big fish here at fox. I want you to know one thing, you were a hit last night. I had five people thats definitely a red sauce gravy joint. What they were telling me about me going to dinner, when are you bringing cavuto, we want real stars here. Neil i like that story. Keep that one. [laughter] neil always good to see you, buddy, that could be big news there. Not the restaurant thing but the new york Stock Exchange or nasdaq getting concerned about this. In the Energy Industry despite all the other criticism that donald trump has been getting from others, you like what hes been doing. Hes been reopening fossil fuels and Traditional Energy, dakota pipeline, Energy Transfer partner chairman and ceo joining us right now. Its kelsy warren on what he makes to this back to just that. Sir, serve focusing on whether we have tax cuts or not but for you big lynchpin in all of this is getting back to energy, right . Thats exactly right, neil. Neil the president wants to get pipelines back up and running, whether its dakota or elsewhere, many argue that its too late, you say what . Its definitely not too late. In fact, we need a lot more infrastructure. The dakota pipeline, second largest oil fill in the United States is moving by rail. Come on. We have advanced past that and yet that was the case, so that pipeline in particular is very needed infrastructure and theres much more that needs to be built in the United States as well. Neil how many jobs do you think i always hear numbers and a lot of environmentalists dismiss it. I think barack obama had dismissed it that the jobs wouldnt be that many as a result of this being greenlighted and being back on, what do you think we are looking at . We found that Energy Transfer partners in 1996 with six employees. We now have 31,000 employees. Thats all in the pipeline business. People are correct when they say that theres not that many jobs after the project is complete, but you never stop. You are constantly building pipes. The skilled workers, highpaid workers, mostly union, some private, they are moving job site to job site, the employment is robust as a result of what we do. Neil i know that youre a pipeline traditional guy and not a coal guy, the same is not said about that industry, the coal industry that despite the president wanting to do everything in its power to save coal jobs that were they are not going to come back, do you agree with that . Not really. First of all, let me say this, we benefited greatly by this demonizing of coal which was wrong, by the way, and because it drove people of natural gas. Youre not going to supply everybodys needs with solar and wind. But i think the coal industry, i had an opportunity, i went to a friend of mine in utah and wasme hunting guides and they were talking about the massive job loss they had seen in working to utah. Its real and these are real people and i do think its going to have a big impact if for jobs and its the right thing to do for america. Neil we have the whole tax cut debate going on and im sick of hearing about it and i will indulge that impatience. We might get corporate relief, im not so sure about individual rate relief. If that is the case, how do you feel about that . Well, as you know, neil, im in a structure called limited partnership, so we tend to perk up any time theres discussion about redoing taxes because often times we get covered with the same cast over carried interest, so we we take that pretty seriously and it would be a mistake if if tax reform, in fact, included Master Limited partnerships, it would really damage all the infrastructure that we talked about a moment ago. I think it would really harm that. So we are keenly in tune today whats going on in washington and im optimistic itll be a good conclusion. Neil how do you think President Trump is doing . I think hes doing extremely well. I tell you and im going to get on soap box for a second, to have a president whether you like him or not, he follows the law, he respects law, we didnt have that, we didnt have that. What happened to us in north dakota is sad, its sad that this is not a banana republic, this is the United States of america. Im going credit the man. He has done a remarkable job of saying, look, weve got to allow people to do the work here, we have to allow people to hire people, lets get america going and i commend him for it and i think hes been brilliant, really. Neil the fear is he has only put off fights that are going to happen. Youre used to that with environmentalists that protested outside of various pipelines, not just dakota and the lower ratings go, the more you will see that and squashing any hope of using political muscle to get some of the things that you want to see like tax relief and all of that, what do you say . Well, i think hes in a strange way hes created a lot of jobs that nobody refers to and thats the paid protestors. [laughter] its a whole new industry, neil. So i you know, i am i am watching and we are trying to not be political at Energy Transfer, we are trying to keep our head down and do our jobs. Neil if i can embarrass you, im kidding, im kidding. The reason i mention the whole Traditional Energy thing is that it comes at a time when republicans are fighting amongst themselves over how to proceed, not on energy but on health care and and taxes and that the problem the president might not have isnt so much democrats but as he indicated and tweeted are groups with the Freedom Caucus. Are you worried that his agenda will be undone not by the other side but his own side . I am worried. I am very concerned. Im disappointed in what im seeing from from the Republican Party. Im an enormous paul ryan fan. I just cant say enough good things about him, but, yeah, im concerned. Neil when it comes to infrastructure and plans there we are going to be getting later in the show. How do you feel about that . Are you as prominent ceo in the country, do you think we need that and do you think we need to pay for that . Infrastructure . Neil for infrastructure. Absolutely. We desperately need infrastructure. I mean, just look at my industry alone. You cant theres we are finding oil and gas not in places not previously contemplated. Its being challenged to operate in a way that it was not designed to operate. Neil all right. So a lot of money for example, neil, we have 13 to 15 billion of construction in the works right now. Pipeline that we are building, facilities that we are building across the United States. That is very necessary. Im hoping im hoping next year, 201718 budgeting season we will have another robust season. Neil thats infrastructure too. We forget about that. Thank you very much. Very good talking to you. Thank you. Neil all right, speaking of infrastructure, we are getting word right now the president is sort of putting the final details on what will be not only a big infrastructure plan but perhaps the biggest ever, 1 trillion. That could be spelled out just minutes from now at the white house. More after this i have asthma. One of many pieces in my life. So when my asthma symptoms kept coming back on my longterm control medicine. I talked to my doctor and found a missing piece in my asthma treatment with breo. Oncedaily breo prevents asthma symptoms. Breo is for adults with asthma not well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Breo wont replace a rescue inhaler for sudden breathing problems. Breo is specifically designed to open up airways to improve breathing for a full 24 hours. Breo contains a type of medicine that increases the risk of death from asthma problems and may increase the risk of hospitalization in children and adolescents. Breo is not for people whose asthma is well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Once your asthma is well controlled, your doctor will decide if you can stop breo and prescribe a different asthma control medicine, like an inhaled corticosteroid. Do not take breo more than prescribed. See your doctor if your asthma does not improve or gets worse. Ask your doctor if 24hour breo could be a missing piece for you. Learn more about better breathing at mybreo. Com. Neil all right. We are waiting the white house briefing, a little later today. Yesterday it started at 1 00 . I cant keep up with these guys but i do know maybe something is in store like a big infrastructure plan here, i mean really big. Connell mcshane with the details. Reporter neil, it started at noon other day, they have been all over the place. Infrastructure spending youre referencing before the last break, because it comes from comments from transportation secretary elaine chao, the administration hopes to get it done through congress by end of the year. We have a new report from cbo in theory could threaten all this. Miss chao echoing comments secretary mnuchin made about trillion dollars of Infrastructure Spending. Keep in mind, if he is talking about it what about debt and deficits, how will all this be paid for . Especially on this day which we heard from the Congressional Budget Office just a short time ago saying federal debt as a percentage of gdp, now at 77, 77 , highest level since just after the second world war. More to the point. Their projection going forward, if nothing changes look at this, the number would reach 150 of gdp in 30 years. In practical level what does that mean . They say the cbo, nonpartisan, like he Lower National savings rate. Could mean lower income for a lot of people. Could mean more pressure shun on rest of the budget. Could be limits on ability to respond to unforeseen events. Nothing good, if nothing changes. If we hear about infrastructure, if we hear about it nothing more, how will it be paid for, shortterm boost, long term concern definitely. Even short term, neil, concern for deficit hawks in the congress, dare we say the Freedom Caucus again. Neil i have a feeling their name will come up once or twice. Connell, thank you very much. Congressman ken buchwald supported gop bill unlike many colleagues being targeted by the president. What do you think of that, congressman, that the president cited the Freedom Caucus as a problem. I dont think it is helpful. I dont think the tweet was helpful. I dont think targeting an entire group of people is helpful. There are a number of us with the president or number of moderates were opposed to this Health Care Plan. I think weve got to work through it. The best thing the president can do is support both sides. Neil or not say anything, right . Thats, sometimes difficult when youre the president. People expect you to neil comment on everything. Youre right. How do your come looks feel about that . Im talking to you right now, sir but many people who worked on this say it gave them 80, 90 of what they wanted anyway, it would halt or reverse medicaid, growth of it. Kill a lot of taxes associated with obamacare. It would kill the individual employer mandates, a lot of stuff they wanted, still voted against it and a lot of folks in the white house are saying why, paul ryan saying why . I cant answer that because i voted or would have voted for it. My feeling was this is the first step. We had administrative action that was going to be taken by tom price, secretary of health and human services. We had bills that could come down the pike to get democrat support in senate for those bills. I thought it was a good idea. Some people didnt think it went far enough. That is something where weve got to trust this president , weve got to trust the speaker. Weve got to trust everything this president has done so far, most of things president has done, given us very conservative Supreme Court nominee. Given us a very conservative cabinet. Weve got to work with him. If there are issues down the road where were spending too much money or doing some things that rye straight our values we take exception. This is one of those things that we could have helped him and started mow men full for the administration and i hope we do that next week or come back from the april break. Neil dont you think, with time tight, between now and end of april to work on a lot of stuff, revisiting health care, then trying to get the health care, the tax thing going, youre not going to be able to do it . Well i hope we can. The first step has to be health care. Some savings for health care will be used for the tax plan. We have to get the Health Care Plan done. I think the tax plan is less controversial than the health care. Neil why do you need health care . I know what youre saying math on that helps grease the skids. If you cant come to agreement on that, why bang your head against the wall . I dont think anyone has given up at this point. There were negotiations last night. I think those negotiations will bear fruit in the near future. One of the legislative strategies i think to be employed not just look at the bill make it perfect from both sides to try to look at other things and add other potential bills. A vote on a balanced budget amendment. A vote on some other legislation to the pot and sweeten the pot so that both sides can take credit and move forward. Neil all right. Congressman, thanks for taking the time. Good catching up with you. Thank you. Neil all right. Whether sean spicer mentions a lot of that rift back and forth with the Freedom Caucus is anyones guess. Keep in mind they are not a Monolith Group as the congressman pointed out and part of that caucus and he would have voted for the measure that paul ryan and his staff cooked up. It is always in the details here but were expecting to hear beside that a plan on infrastructure that could be upwards up a trillion dollars. Only little detail how that can be paid for or is that important this goround. More after this. Neil as we wait for the white house briefing, were getting a sense right now however we pay for things. Rich is not a fourletter word. Often gerri willis reports on tax issues that may impact your 401 k including what we could hear out of the white house today. Hey, gerri. Thats right. Thinking about tapping your 401 k for the first time, a lot of people are, listen up. If you dont follow the governments incredibly complicated rules requiring minimum distributions you could end up owing a big tax bill. April 1st is the deadline for firsttimers to take money from their Retirement Savings. The irs rule is this. You must tap your 401 k or ira by april 1st of the year after which you reach age 70 1 2 or the year which you retire, whichever comes first. You tap the retirement each year by december 31st. Just as the government tells you when to take your retirement money, it also tells you how much to take out. To find your magic number, consult irs work sheets at irs. Gov. Talk to the financial planner. Are you still with me . Now you may be wondering what happens if you fail to follow the rules. If you fail to take a distribution you may be forced to give half of that money back to the federal government as an excise tax. By the way if you dont take out enough money there are penalties too. If you have multiple iras, you should calculate minimum distribution for each account separately though you can withdraw the total from a single ira. Follow the irs rules to the t to keep from wasting your valuable Retirement Savings this is one thing, neil, that drives me crazy, the government telling us when and how much to take out of our retirement accounts. Neil i could see the tax benefit and all of that stuff. But then you realize on the other end when youre set to take it out, a lot of people think, i didnt know i had to take it out. What kind of reaction to folks have, yeah, 70 1 2, start taking it out . I think they all realize guess what . The government has 25 trillion it sees unaccessible until people start taking it out. They want to force people to get money out of their Retirement Funds so they can tax it. It is that simple. Neil with the understanding, you are by this point it is your benefit because youre taxed at lower rate when presumably you were working. A lot of people are working still at that age, right . Absolutely right. Absolutely right. A lot of people feel like i spent my entire professional life, career, work life, building this massive amount of money up. I want to use it the way i want to use it, when i want to use it. I dont want the government telling me how to do it. Neil gerri, while i have you here, were going to get details were told, were told of trillion dollar infrastructure plan on the part of white house. Part of the money, part, might come from forgiving money held abroad at a lower tax rate. Earmark some of that, i know it is a bad word to go into infrastructure but would it cover a trillion dollars . Well, i think thats a great question. You know the reality is we havent really dealt with this before. This would be a firsttime kind of event. Will it work . We dont know. I tell you everybody time i her somebody express interesting novel idea in washington i wonder if this Freedom Caucus will say no. These folks, we dont know who they are. The caucus keeps its member list silent. They brought the whole conversation over reform of our Health Care System to a grinding halt. They halted it. We dont know who the members are or how they specifically voted. Neil we do know enough of them were against it that i dont if they will change their positions even with president ial jawboning, right . Well, i think that is a great question, because the president said now he will go to the democrats for support. I think thats a nonstarter. So the idea that you can pivot between those two groups, i think as a practical matter, that is just hard to do, right, neil . How do you appeal to both of those groups and try to bring them in on a single bill . Because what they want to get done is completely different. Neil yeah, very, very different. Then of course with the president lashing out at both, i dont know if it will help you. Every little vote counts. Gerri, thank you very much. Gerri willis. Youre welcome. Neil were looking at this and stocks up in and out of session highs. Obviously investors confident enough things will go their way they get what they want. This is a crowd expecting tax cuts, my friends. Corporate and otherwise. So they are still priced in for this perfection. Even with having 11 out of 13 past trading days being down, theyre all about 2 from those march 1st highs. So they are Still Holding their own, convinced, convinced that the president is going to deliver the goods. Can he . Will he . If he doesnt, what happens to them . After this. So how old do you want to be when you retire . Uhh, i was thinking around 70. Alright, and before that . You mean after that . No, im talking before that. Do you have things you want to do before you retire . Oh yeah sure. Ok, like what . But i thought we were supposed to be talking about investing for retirement . Were absolutely doing that. But theres no law you cant make the most of today. What do you want to do . Id really like to run with the bulls. Wow. Yea. Hope youre fast. I am. Get a portfolio that works for you now and as your needs change. Investment Management Services from td ameritrade. [vo] quickbooks introduces and her mobile wedding business. She travels far and wide to officiate i dos. And quickbooks automatically tracks those miles. She categorizes with a swipe and is ready for tax time. Find more than 4000 in tax savings. Visit quickbooksdotcom. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. And if you do have an accident, our claims centers are available to assist you 24 7. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance attention homeowners age sixtytwo and older. One reverse mortgage has a great way for you to live a better retirement. Its called a reverse mortgage. Call rfree information kityour with no obligation. It answers questions like. How a reverse mortgage works, how much you qualify for, the ways to receive your money and more. Plus, when you call now, youll get this magnifier with led light absolutely free when you call the experts at one reverse mortgage today youll learn the benefits of a governmentinsured reverse mortgage. It will eliminate your monthly mortgage payments and give you taxfree cash from the equity in your home. And heres the best part. You still own yohome. Call now take control of your retirement today neil all right, got the two minute warning of sean spicer with white house. Were wrapping up another quarter. Lori rothman looking at winners and losers. Hey, lori. Hey, neil. This was volatile quarter. A lot of ups and downs tied to President Trump and health care and hopefully taxes here. If you look at tech this quarter, it was outshiner. Apple, microsoft, huge gains for the quarter. By the way those names along with facebook and netflix hitting alltime highs. Tech was truly outstanding. I want to look at Health Insurers as well. You know there was so much giveandtake, so much tugofwar with the Health Care Repeal and replace legislation here. They were up nonetheless. Aetna, cigna, unitedhealth. Argument they continue to benefit under obamacare. Magellan does not follow along under that, under that theory. Biggest drag on the s p in terms of particular names, under armour, l brands, retailers talking about this, right. Utter cannibalization of brickandmortar traditional retailers what else, amazon, neil, at alltime high today. Back to you. Neil thank you, very, very much. Quick break squeeze one in before sean spicer what were told could be very big infrastructure program. Maybe a trillion dollars worth. You know how this goes. Sometimes that never really happens. They just go arguing back and forth. More after this. Neil here is spicer. [laughter] to thank him for his productive meeting on march 20th. A weed after the call should have been issued last night. Yesterday he notified copying that a National Emergency declared executive order 13694 regarding malicious cyberattacks will continue on april 1st, 2017. As you all know, the notification is required by statute in order to extend the the National Emergency that the past administration declared. The president believes that this significant cyber enabled activities continue to pose unusual and extraordinary threat to our National Security and Economic Prosperity and therefore he has determined that it was necessary to continue this National Emergency. Last night a federal judge in hawaii putin definite hold on the president s executive order that was issued on National Security. The department of justice is reviewing the ruling and is considering the best way to defend the president s lawful and necessary order. This ruling is just the latest step that will allow the administration to appeal. Just aweek ago the u. S. District court and the Eastern District of virginia upheld the president s order on the merits. The president believes its lawful and necessary and ultimately allowed to move forward. This morning we announce that the president will host president xi of china at maralago on april 6th and 7th. The president looks forward to meeting with president xi and exchanging views on each others perspective priorities. They will discuss issue of mutual concern including north korea, trade and regional security. This morning the president had a meeting with secretary mnuchin. The secretary along with the Economic Council and the rest of the president s team of experts are been joining on all tax reform debate. Tax reform has been in agenda since the beginning and campaign. Enacting the first significant tax reform since 1980, its going to be a series undertaking and we are at the first stages of this process begin to go engage with members of congress, policy Group Business leaders, industry, constituents from around the country and other stakeholders. Tax reform has been discussion for years and lots of people have lots of ideas about it. We intend to hear from them. He and his team will continue to meet with those who support and oppose the various policy options as they all sit on the table because the president is committed to delivering results to the American People and american businesses will be be able see and feel in their paychecks. On the hill this morning the president was glad nominations of secretary agriculture sunny perdue and secretary of labor. Although democrats who expressed support for alex acosta, nonetheless, while they previously supported him seem to stuck in a party line vote. The president looks forward having them in the team and cabinet as soon as possible. Also this morning the department of commerce and First Responder Network Authority first announced that at t will build the First Nationwide broadband, dedicated to americas First Responders. The step was part of 9 11 recommendation to improving police fire and personnel to connect across jurisdictions which is critical to their missions. Its also a sign of the incredible ability of privatepublic partnerships and solve biggest problems while also creating jobs and growing the economy. Back to the schedule this afternoon, the president hosted a legislative Affairs Lunch on opioid and drug abuse. The lunch was an opportunity to