welcome to "power lunch. i'm morgan brennan with tyler matheson amazon wins a vote to keep the union out of the warehouse in alabama. we'll tell you where it goes from here. vegas is back, baby! we get the latest on the reopening from the ceo of mgm resorts. and it is safe to get back to the beach this summer but is

your body bikini read did? we are all trying to lose the covid 19 "power lunch" starts right now so this is "power lunch. we'll get a check on the markets. once again creeping higher amazon shares are higher today after the company wins a key vote among workers at the warehouse in alabama voting against unionizing but there's more to the story. hey, d. >> plenty more, morgan so the union cam pane voted down by a large margin and that secures a victory for amazon in the u.s. and the fight is not over the retail union, the rwdsw, will challenge the results claiming illegal behavior by amazon saying we won't let the

lies, deception and illegal activities go down and that's why we are filing charges against the illegal actions taken by amazon in the union vote amazon releasing its own statement shortly that reads, it is easy to predict the union will say that amazon won this election because we intimidated employees but that's not true. our employees heard far more anti-amazon messages from the union, policy makers and media outlets than from us guys, both groups just wrapped dualing press conferences. as for where we go from here, we watch the appeal and we are on the lookout for any responses from lawmakers and labor activists in other parts of the country because this garnered a lot of national attention. we heard a lot of lawmakers come out so surely --

>> afoot for amazon? >> the unionization efforts in alabama have been playing out over months so that's certainly garnered the attention of labor activists around the country, even in amazon's home state of washington and watching to see what happens with them but unionization is extremely doiflt it is a tough slog the organizer in alabama would likely say that even getting to a vote is progress so this isn't unlikely to be the last that we have heard of this amazon itself saying to talk to lawmakers, it is willing to listen to the other side, work together and claim they pay $15 minimum wage and give benefits so there's a lot there we'll continue to see it play out among labor activists. >> thank you. now for more on the unionization battle at amazon, we are joined by mark

gaston-pierce, the former chairman of the labor relations board and executive director of worker rights in washington d.c. welcome. good to have you with us. >> glad to be here, thank you. >> are you surprised not necessarily by the results but that the results seemed to be so much in favor by better than 2 to 1 in favor of amazon, not the union here >> i'm saddened but not completely surprised because of the kind of compromises that the union had to take in order to get to an election they had to be willing to accept into the petition for bargaining unit a substantial number of employees that amazon was pressing to include. these were seasonal employees, seasonal employees are generally not considered part of a

bargaining unit for union election but this was allowed otherwise it would have been tied up in litigation for the better part of the year and the longer it took for it to go to election the more time amazon would have had to work its anti-union campaign against the union. but as it stands, it looks like they were effective anyhow. >> so by -- let me make sure i'm understanding you. by allow or having the union agree and amazon wanting to count seasonal employees among the eligible voters in this election, those voters could be anticipated then to feel sort of an obligation to the employer, amazon, and to vote in favor or against rather the organization

of a union at that plant >> well, that's part of it they have minimal skin in the game if they're seasonal employees. additionally, the union's efforts towards organizing its members is not concentrated on organizing the seasonal employees. so amazon in effect was diluting the yes vote by doing so. >> mark, it is morgan. there's a lot of attention focused now on this postal service mailbox that was installed just outside of the alabama warehouse. why is something like a mailbox for the u.s.p.s. a lightning rod in terms of this debate and discussion and how the union vote shook out you can't tamper, open mail. it is a federal crime. >> that is true but you have to look at it from the total

perspective. amazon pushed hard even during this pandemic to have a vote inside the facility. the union stopped that amazon offered to provide hotel space for the officials which would have been highly inappropriate. and that was rejected. the next step amazon took was to propose that a collection box be placed inside the facility for the purpose of harvesting these ballots so that it would be in a quote/unquote secure place understand that that has a coercive effect. when you are talking about a company owned by some of the richest people in the world and you have a company that can contact the u.s. postal service and entice it or encourage it, i

understand from reports that there are emails documenting this, that they can encourage just before the election to have a post office box placed in front of the facility, have a tent around it and have it in fuel view of managers. that's problematic and influential on an influential demonstration of the kind of power that that corporation has in this situation. >> yeah. >> whether or not that rises to the level of an objection that will carry weight to overturn the election remains to be seen. >> so let's -- talking about amazon in alabama today. amazon has a -- alabama has a right to work state. we did see house democrats last month pass the pro act and elements of that pro act that

are embedded into this infrastructure proposal from the biden administration, as well. part of that process actually i think would move to strip the right to work provisions away. are we gearing up for a bigger, broader, more federal level push to see more unions or to see the ability of more workers to create more unions right now >> i think there is a push towards getting an elagantarian set-up the act was created to level the playing field, to give equal opportunity for workers to have a free choice in the selection of their representative. when franklin dell nor roosevelt pushed for the nation allay boar relations act the idea was since corporations are free to structure their corporation and

select their officers and managers, workers should have the same ability to do the same thing. the election process as it has evolved involves now a lot of employer interference. president biden stated that employer interference should have no involvement in the choice of union representatives when employees, workers are deciding their choices the pro act provides for that and provides for establishing bargaining units and provides for an ability for the union to choose between electronic voting, mail ballot voting, in-plant voting or voting in a neutral site outside of the influence of the employer.

i read a tweet today that said that this election was like if the 2020 election was run where one -- one candidate could lobby an election within the united states and the other candidate to electioneer from canada that's the relationship they have in these current circumstances. and it's not equitable >> mark, thank you very much it is a conversation that will continue i'm sure. former nlrw official thank you. coming up, producer prices jumping with a largest analyzed gain in nearly ten year just the dow is up more than 100 points right now. earlier trade does -- inflation matter to stocks anymore jix plus the ceo of mgm resorts

to join us to talk about the reopening of vegas we will be reich back with a very full show

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is we saw earlier today from the ppi. so far powell won. there's no money to be made on fretding about inflation right now. take a look at the sectors the big story this week is growth is winning. tech stocks are up nicely this week and the stay-at-home stuff, bank stocks, they have been holding up well on top of that and why the market is doing well on the rotation story. the growth makes a comeback. look at the nice gains by the classic bill growth names? remember the s&p is up about 2% this week. so growth is back in a big way so are the stay-at-home stocks small groups sell them off? no we're at new highs nice to see that we turn to earnings next week. jpmorgan in the middle of the week and the big story is what will happen in terms of inflation story? is that a big issue?

higher rates and inflation overall. talk to have lower margins because we have higher cost. some food companies have already reported higher costs and trying to pass them on but most people believe it's transitory. powell winning that story. a final point here, how much guidance do we need? people say at this point we have gotten away with low levels of guidance in 2020 and ceos might push back and say it's better for us all to avoid high levels of numerical guidance. an interesting debate. traders like more information. ceos like giving less information. back to you. >> that's a good point we know on the coming weeks you will watch it closely for us. the market's grapple with higher interest rates. let's bring in ron isana and

eric freedman -- with u.s. -- we'll just bring in ron right now. good to see you. >> you, too, morgan. >> all right let's talk about this. the inflation debate we have been having it for many weeks on the air and got that hotter than expected ppi number this morning if the bond or treasury market is reacting favorably to it if you will today it does speak of the fact of rising costs over a number of industries and something to play out in earnings no >> in earnings maybe certainly not in the near term certainly. i think that what we deal with at least for the moment is a pig december let through the python bulge in inflation numbers seeing this big thing on a year over year basis. natural gas for instance up huge because of the cold weather over the last couple of months and

then may moderate as the fed suggests what the fed needs to see and i think as you can tell by the bond and equity market you see a rise for the bond market to discount that and for the fed to come close to hint it has a change of policy in store down the road. >> we'll bring in eric at u.s. bank wealth management want to get your thoughts on this what's more important to market right now, the inflation debate or upcoming earnings season? >> i think it's still inflation for right now and eschings is increasingly important a quarter and a half from now so i think to ron's point we are on the transmission mechanism of easy comps for a couple of months but then things get a little more challenging for the fed to stick to the guns and think it's like a game of marco polo where the bond market says we'll sell off and hopefully hear a polo back

but that's not been the case so we think that earnings are strong and likely remain strong but inflation is the key that we are focused on right now. >> ron, i'd like to get your thoughts on the value versus growth debate. this is a good week or growth stocks but speaking yesterday to a portfolio manager saying that the value run is far from over and plenty of money to be made there in cyclicals, energy, financials. >> yeah. as we have discussed in prior weeks a lot of this is dependent on the scope and the size of any infrastructure bill that may or may not make the way through congress yeah if you look at a recovery trade most of the -- i think bedrock issues that support -- continued rotation maybe not as dramatic as the last six months of growth to value of big the small and we have seen it again from domestic to international with european

markets making new all-time highs. it is still on and will it continue at the same pace we have seen? that's probably doubtful small caps outperform large caps and seen a huge rush into value launching value stocks to growth levels so may slow down and what we have right now is all the groups as bob suggested moving higher as a one technical issue i saw is 90% of the s&p 500 stocks are trading above the 200-day moving averages and typically you see a corrective action with an indicator flashing warning sign like that. >> eric, where would you be investing right now? >> we think mid cap is best place domestically if you look at the momentum across both international markets as well as domestic markets we still think that mid cap has room to go and the other

areas an opportunity is large cap technology with a bit of a dip. we think that the pandemic is exacerbated the productivity issues that fueled technology and we think investors will come back to and stay with domestic mid cap and look to add to large cap technology, two areas of principle focus right now. >> we'll leave the conversation there. thank you for joining us have a great weekend. >> thank you. >> you, too. so why consumers are looking to shed the -- while consumers look to shed the covid 19 and why it could be a boon for fitness companies this summer. the biden administration releasing a first defense budget the stocks to benefit when "power lunch" returns. don't like surprises? [ watch vibrates ] proactive notifications from fidelity keep you tuned in all day long. so when something happens that could affect your portfolio, you can act quickly. that's decision tech, only from fidelity. obsession has many names.

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summer is on the way restrictions are lifting people are ready to hit the beach. for many that means dropping the covid 19 fitness companies seeing a surge in business of those looking to shed the pandemic wagtd and diana olick has more on this story for us. >> reporter: with the world shut down for a year there's been a lot of this, this, and this.

now armed with vaccines we're supposed to get back out there >> the wardrobe i purchased that i fit into yes. >> reporter: 42% of americans reported an undesired weight gain because of covid. average increase, 29 pounds. >> it was fun to make sour degree dough bread and banana bread and the result is not great. >> reporter: which is why gyms, and streaming fitness companies, are seeing a surge in new demand and overall workouts crunch saw member visits up 30% in march over february. >> we are forecasting that the big boom is september. when we have gotten through the summer, the kids are back to school, normalcy with businesses opening again. >> reporter: barry's boot camp said studio awe ten dance is up 48% over january its streaming wokouts are also

strong at orange theory, memberships are up 17% from january with the biggest jump 9% in the past month. that's great news for the industry overall but small businesses have gone out of business and a bill was introduced in congress to give $30 billion in relief in the form of grants from the small business association and willinged help morgan >> diana, this is -- i see it in the gym i belong to. more and more people are showing up there in the last couple of weeks. peloton was a stay-at-home stock darling of the past year what does this mean for those whether it's the streaming offerings or the home fitness companies like peloton >> reporter: if you ask peloton ceo's he told me he doesn't think it's an impact at all because people are now really hooked on the homeworkouts and

the ceo of crunch said he is not working to see more influx of people doing home workouts but they want a hybrid and crunch with an area in the gym to put the ipad so you can stream workouts but do them with the equipment on the gym and home fitness is just better news for brick and mortar. >> interesting diana, thanks. tyler? ahead on "power lunch," rolling the dice on reopening. how are casinos and resorts handling the new post-pandemic reality she we'll talk to the ceo of mgm resorts next bio techs crushed over the last months. the ibb down about 10% as regulatory risks bubble up once again. we'll talk about that and more ene turn

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it's easy and affordable to get started. get self protection for $10 a month. welcome back i'm rahel solomon. here's the covid update. a new cdc study reveals 11% of children with covid-19 march 1 to object 31 of last year had to be hospitalized. 747 were admitted to the icu and

172 required mechanical ventilation and some may have been admitted to the icu out of caution. a lockdown order at the university of chicago after parties led to cluster of infections at least 50 cases reported and school officials expect the number to grow students have been told to stay home until at least april 15th. a study links sunlight with fewer covid-19 deaths and people in the highest level of exposure to uva rays less likely to die from covid scientists say an explanation is it causes the skin to release nitrous oxide and may impair the ability to replicate. >> let the sun shine in. >> not just good for your mood but other benefits. >> yeah. healthy benefits there thank you.

just checking markets right now. stocks are mostly higher s&p and dow with record highs in today's trade again. the s&p at 4109. to give you a sense of just the gains we have seen there, the nasdaq has been slipping between gains and losses all day currently in the green but just barely on pace for weekly gains for all three major averages the oil market is closing for the day. let's go to frank holland for more. >> energy prices are ending the week with mixed trading. crude is fading into the close and adding the losses for the week topping 3%. downward pressure from opec and allies back here in the u.s., the oil rig count is unchanged at 337. analysts say more are needed to maintain current supplies. a rough week for energy stocks, the sector down 4% as broader

indexes climbed to record highs. back over to you. >> frank, thank you. mgm resorts down today but hitting a 52-week high this week following the announcement of an expansion to the program to bring work conferences back to las vegas. but with high levels of vaccine hesitancy in the state of nevada, should they expect people to flock back to the strip? contessa brewer joins us with the mgm ceo bill hornbuckle. it is all yours. >> hi, tyler thank you very much. bill, it is great to have you with us today. what an incredible scene in las vegas this week. busy tuesday, wednesday. now hit thursday night and things start to pick up and friday morning the lobbies are jammed people are back. you launched convene with can have, a pral as i understand it to allow conferences to come back for a health bubble

can you explain it >> sure, absolutely. so we're -- we're back is the bottom line here things - >> okay. so you are back. >> as we have discussed over the last couple days and into the week things are returning with velocity we haven't seen in a long time. it is a program we have put together had in the marketplace for a while for groups where you can come in, be tested you can walk around throughout the partnership with clear and with q-health and get in and out of the meetings in a safe environment, one that you feel comfortable why. also taking that same technology and putting it into the guest rooms. for example, you have international travel or going back to a destination for a health pass, we can provide that for people so it's a real great product it is a great process. generally they're flocking back and excited by all of that. >> may 1st the governor will give the county health

departments the ability to go in and decide what the occupancy limits should be, what the covid restrictions need to be and so clark county will get that the gaming control board has said we cannot raise the occupancy limits beyond the current 50% until we see some real concrete plans on how to deal with vaccines good rx is out with a survey, research that indicated nevada among the worst in the nation with vaccine hesitation. what are you doing to overcome that >> look. for employees, we have been on this better part of a month, had testing since day one reopening here last may. about four weeks ago we started vaccinating the employees. we have a program set up at mandalay and shuttle the employees and do satellites. over 5,000 employees and now as of this week bringing in their families we touch probably a quarter of a

million people in this valley in one way, shape or form which is 10% of the population base and through that we have vaccinated over 5,000 people and will continue to push through this and just do the best we can as quickly as we can. >> do you think that will matter to convention attendees? >> absolutely. >> why >> if we can project a safe place to come and people feel kfrtible knowing that the employees have been vaccinated and can enjoy themselves, protocols in play with masks and social distancing but important to feel safe and our push -- i want the employee base to feel safe if they feel good and comfortable the experience is that much better. >> i want to talk about expansion plans. the budget came out and there were a lot of casinos that were hoping there would be much more in new york's plan to unveil mobile sports betting and potentially to expand down state meaning new york city casino licenses

where, you know, mgm has a big facility in youngers that could use the expansion. give me reaction to where new york stands and what you think will happen down the road. >> the governor and the legislature putt work into this and interested parties, both the operate or thes up north, future potential providers, ourselves and our partners we have 97 acres employ a couple thousand folks and think we can impact jobs with a permanent casino license up to 10,000 and we think it's a meaningful development opportunity for the area i think sports betting will take sometime and trying to vector through it we're not sure we understand it completely yet but we are very positive in the long reason there and a great location, we know how to do this at scale. >> if governor cuomo's after the tax revenue and said i don't care about making the casinos money, are the casinos, are

experienced gaming operators the key to maximize the tax revenue? >> yeah. in two respects. talking about brick and mortar casinos, jobs, the community, absolutely why whether you talk about online sports betting and models and examples. look at rhode island, new hampshire. places that went for a 50% tax it's not to same marketplace you want to let the best operative in let everyone win. >> i-gaming. that makes exponentially more than sports gaming. >> that's the secret to this business we are in four states. it is i think at the end of the day two thirds of the bottom line of this space. >> i have 20 seconds but can you tell me about macau? >> probably delayed into the summer it's not seen a case since march of laes year but about getting people vaccinated in places like china and hong kong so that when they come across they can go

back and not have to go into a hotel for three weeks so i think late summer to see post-july like activity case here in summer really boom. >> bill, thank you so much >> thank you for the time. >> back to you guys. >> contessa brewer, thank you. our thanks to bill, as well. great stuff. let's head over to the bond market with rick santelli tracking the action. >> if you look at a two-day chart of 10s we did a u-turn today. ppi hotter in china year over year is 4.4 and if you look at a one-week chart you can see that it's a down week. down 6 basis points as we sit at 166. the second highest yield close next to 174. but we are up on the session four basis points and looking at the dollar index, a similar scenario, up just a fraction on the day. down a lot on the week

almost a full penny. and if you look at the euro for a week you can see exactly why you're not reading that wrong. we are above 1.17. and where we sit down the euro currency with an up week and want to pay close attention to that because maybe it's a feeling from the currency market that finally europe gets the vaccine issues under control back to you. >> thank you. what is the best offense for the portfolio? maybe a good defense defense stocks soaring over a month. does the biden administration present a risk our traders will discuss next. with a bang, energy and change came to every part of our universe. seismic or small, it continues. change is all around us.

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acquiring exclusive rights for the south american world cup qualifying matches w-2-40 slipping missing on the top and the bottom lines the stock is still higher by 50% over the past year let's check defense stocks as president biden releases the skinny budget with $1.5 trillion for fiscal year 2021 calling for a 16% increase in nondefense spending but only a 1.7% increase for defense spending. the administration proposing 753 billion for the total nation at defense budget 715 billion for the pentagon specifically with a breakout of overseas contingency operations going away the top line d.o.d. number up 1.6% or down .4% for inflation

not as small as some feared but it raises questions. i think part of the reason you see defense stocks under pressure today but higher orr the last months after a rough 2020 so with spending set to hold steady and earnings around the corner, are the stocks a buy let's discuss. all right. traders for today, craig johnson and danielle shay. good afternoon to you both danielle, do you see buying opportunities among the defense stocks at all right now? >> no, i don't i think they're rallying into resistance and the move too far too fast and not anticipating the group to do well under president biden and simply not going to be the same environment that we had under president trump. i think that the spending is not going to grow and i also think

that a lot of the reason why it did so well under president trump was because of how contentious he was and this is a buy the rumor, sell the news i'm looking for these to trade lower in the near term. >> we are showing a stock chart of the ita aero space and spefs etf and want your take on the technicals. >> morgan, in this particular case i got to disagree with danielle from the perspective that sometimes a good defense is a good offense and looking at the chart the chart looks very good a classic triangle set-up. breaking out to new highs and trading back to the old highs you leer looking at 14% upside and just the size of the chart set-up sugg jetss mid-20 upside from here and the stocks in the ita a lot of charts raytheon or whether it's northrup grummond

look attractive. >> there's a lot to talk about but will leave it there for now. thank you. for more trading nation, head to the web side or follow us on twitter at trading nation. tyler? all right. bio tech back to being the bad guy? drugmakers facing drug pricing criticism before the epidemic and despite the role of developing a covid-19 vaccine could the tide be turning again? coming up, christine lagarde. "power lunch" will be right back and now, the latest from trading nation.cnbc.com and a word from our sponsor. >> different sectors tend to do well in different periods of the economic cycle when the economy is expanding, industrial and technology stocks

have outperformed the broader market however, when the economy is contracting, more defensive sectorings such as utilities tend to outperform

welcome back, everybody. it's been a wild ride for biotech. the sector went from being hated a few years ago to being loved or at least needed during the pandemic, but now the ibb etf is 15% off its recent highs so drug pricing worries still creep back into the picture our next guest still positive overall. alethia young is a senior biotech analyst at cantor fitzgerald why is biotech limping right now? >> a little bit it's related to what's going on with the fda in my view. there have been some regulatory delays related to new drugs. some are related to covid. so we've seen a lot of delays, some complete response letters and obviously like approving

drugs in the regulatory environment is a key life blood for the biotech space. >> so investors know that. they know there's a bottleneck there. are they concerned as well about either a changing attitude at the fda or the possibility of more pricing pressures, price controls, government pressure on the pricing? >> got it, two parts so on the regulatory side, i worry a little bit there's a change of tone obviously there's different leadership in place, different deputy heads and all that stuff matters as to what the agreements were the companies had with the prior people in the place versus the ones they have with new people in regards to clinical trials that need to be run. i worry there's some sort of changing tenor that's hard for us to pick up a little bit but your second point as relates to the pricing, i actually foal like covid was a systemic

positive for pricing in biotech. we have a vaccine in a year that's being mass disseminated that's safe and efficacious shows you why drugs cost a lot sometimes because these companies have to keep reen in -- reinvesting in their pipe lines so i think the governmental pressure will be lower than the past couple of years >> it's morgan i'm curious about the tax reform, the corporate tax rate discussion that's going on and the possibility of reforms, what that could do to the sector? >> it always puts some pressure in my view on the sector i do think corporate tax reform is a challenging concept to kind of tackle overall. so i kind of feel like it's a little rhetoric. obviously a couple of years ago it did occur and tax rates were a little lower i think it's obviously a little bit of a headwind, but i think it's not completely the whole

crushing factor of what stresses people out like i go back to drugs being approved and the functional part of the environment versus a tax rate x versus y because effectively you're always able to figure out different things to manage the corporate tax rate and it's quite low at the moment. >> we've just hit on a broad range of topics. what do you like the best? >> as far as stocks go >> yes. >> i really like this company global blood the stock is down a fair amount from the past 12 months. they have a sickle cell drug that was just approved right when the pandemic started. the launch started off pretty good but when we dug into the pandemic, obviously patients weren't going to the doctor and looking for new medicines. everybody was at home and the doctors were at home and had to treat patients with telemedicine versus seeing them and so the launch has waned because of that we're heading out of the pandemic, fingers crossed i really hope, and i think we'll

start seeing a systemic recovery as far as patients going to get new medicines and things like that i think it's still a meaningful medicine blockbuster product so i feel like the second half of the year global blood is stock one should own as we play the recovery story line for them. >> give us quick one sentence thoughts on your other two choices, sarepta and gilead. people are still relishing in the fact that their first study missed the end point for a weird, spurious reason they have another study ongoing. i think there's a lot of upside related to the pipeline. as relates to gilead sciences, it's a company that has an incredible amount of free cash flow but they have also spent the past year investing in the pip pipeline they're starting to see the light of day at the finish line as you head to phase three so i think this company is truly evolving into something that

could be far more greater and significant than it is right now even though it is a $80 billion market cap company. >> we appreciate your time today. >> thank you more "power lunch" is next and a programming note, cnbc launching a brand new show on monday at 11:00 a.m. eastern tune in for the premiere of "tech check. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like..like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0 commissions

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all right. let's set it up for the closing bell as we wrap out the week here, morgan the industrials, s&p, nasdaq composite all moving higher. some records to be noted today russell 2000 has been limping a little bit during the week, but basically the growth stocks, that's been the story of the week they have come back a little bit more strongly. >> yeah, they have we've seen that, of course, as we've seen the 10-year treasury yields come off that multi month or i guess 14-month high that we saw last week. now it's currently at 1.667. that's also going to put the banks in focus as we start to get earnings season going in earnest. of course those bank stocks are just such key reads on the state of the economy and also obviously everything we've seen

playing out, not only the treasury market but the equity market i'd note energy we've seen an unwind happening in that trade too given the dynamics in the crude oil market. >> it's going to be very interesting to see how the earnings come through. i suspect it's going to be an amazing few weeks of numbers that will eye pop compared with a year ago. >> easy comps, right >> morgan, great to be with you. thanks for watching "power lulu lunch, " everybody welcome to "the closing bell." i'm wilfred frost along with sara eisen stocks gaining steam the major averages all with gains, the nasdaq up more than 2.5% since monday's open any close higher for the s&p 500 will be a record the dow set for one, the nasdaq not quite. president biden unveiling details of his first budget proposal to congress laying out a $1.5 trillion road map we'll break down the