schedule but play it out. this is aggressive time questioned all, it will be tough especially sexual harrassment allegations that keep piling up. as you mentioned there is a thanksgiving break. a number of senators hear from constituents. democrats are mobilizing on this. a lot of commercials in the washington area, where those are targeted so far, have been kind of bad. if this thing gains momentum over the last week you will which see a lot more of that advertising. democrats will make the case that these tax cuts favor the wealthy and they can point to a number of provisions in this senate bill, that a lot of democratic voters aren t going to like and independent voters might not like. rob obviously ron johnson made the comment how the bill favors corporations over small businesses and there are a lot of things they can point to draw out constituents. i m sure a number of senators who might be on the fence will hear from them. neil: she is right, chris, a lot of the atta
which of will make us competitive again and companies won t be leaving our country. finally our tax plan will return trillions of dollars of wealth to our shores so companies can invest in america again. at the same time we re working to reduce wasteful government spending. we will hear from budget director mick mulvaney, who is working with my cabinet to find taxpayer savings in each and every department. the cabinet members that are with us today are working on getting reductions to their various departments we think we will save a lot of money, even lower than the budgets and the budgets we re submitting. we ll be working on health care, infrastructure and welfare reform. we ll look very strongly at welfare reform. and that will all take place right after taxes. very soon, very shortly after taxes. so we ll be submitting on health care, plans on infrastructure, and plans on welfare reform, which is desperately needed in our country soon after taxes. today we ll also discus
factors them out, and either way the markets continue to advance. we ve got market watcher heather with us and dow jones news wire editor glenn holm. heather, let s begin with this expectation that we re going the see the big tax cuts, and corporations particularly are going to be the biggest beneficiaries of the biggest tax cuts;s that is, taking the existing rate from 35 presumably to 20%. i guess the only detail is when it would take effect. what if they don t do what they re expected to do? what if they don t pour it into equipment and jobs, etc., but just into boosting their dividend? things they can do, it s their money sure. neil: what would fallout be of that? that would be very good for the stock market. if it doesn t invest in plant, property and equipment, but if you re still buying back shares and increasing dividends. but if you don t own stocks, it may take some time for the economic effects to play out because you want companies to use that cash to hire m
the backdrop, the strong economy, that is leading to a surge in travel, period, but tax reform doesn t go through then what? let s go to scat martin who has been crunching numbers on the then what possibilities, what happens then, scott? neil, i think we see a pullback and i think we see a pullback and a surely equity prices, anticipation of tax reform, regulatory reform to some degree we have seen and equity prices have responded positively and you re also going to see pullback in consumer spending. the nice thing going forward for us is the following, 401(k) balances are on record, great year that makes you confident and probably more confident in your job than a year or two ago, that s likely going to make you take out the wallet as you go to holiday spend, without fax reform, that momentum likely doesn t continue. neil: a couple of different reads on this. you re probably taking them all in. morgan stanley saying, you know, to a point we have been debating, be careful
him. he is saying essentially, not so much. the white house says there is a deal to separately appease senator ron johnson of wisconsin. he indicated he would like to be a yes vote but thinks smaller, medium sized businesses are not being treated fairly. they re talking about a vote by the end of the week, maybe in the weekend. daily caller editor vince come come collagnese about this. i wonder if this was a way to nudge republicans on the fence to fet off the fence? what do you think? rand paul is honest broker. he committed to his ideology. he is very honest what his problems with this tax bill has been. he is one of the first republicans came out, i have a trouble with this if it raises taxes on middle class. look how far he has come. now he will support this thing. not all of what he wants. it gets a lot closer. he feels closer that the administration will move for tax cuts on annual basis. that should provide anybody who is republican, who had discomfort with this,