congress a working eight days in april. maria: a good big if you can get it. >> we need to consider the possibility that they don't get anything done this year. what's the market going to do it. dagen: recession if they get nothing done. there you go. maria: "varney & company," stuart, over to you. stuart: now, the president's growth agenda delayed. first it was obamacare, now it's the tax reform, delayed. good morning, everyone. in mar, treasury secretary mnuchin told fox business there would be a tax cut package by august and now he says that timetable is highly unrealist unrealistic. there would be no move until the fall. that would be one year after the president as election. today he'll travel to wisconsin and have a buy american, hire american order and tell federal agents, use american products

and review the h1b visa program. and again, the president has to turn to executive orders to get something done. congress isn't going to get anything done. what does the president do? he picks up the pen. nobody is happy about this. voters in georgia's 6th congressional district gets a chance to vote there. one thing holding stocks up, the hope of strong profits report this week. by the way, we will be down at the opening bell today. down 60 or 70 points. maybe because of the tax cuts. congress should stay at work and get moving on the president's growth agenda, "varney & company" is about to begin. ♪ . >> i have just chaired a

meeting of the cabinet where we agreed that the government should call a general election to be held on the 8th of june. britain is leaving the european union and there can be no turning back. and as we look to the future, the government has the right plan for negotiating our new relationship with europe. stuart: well, that was a surprise. the prime minister emerged from 10 downing street, made the announcement at about 6:15 eastern time this morning,nap election june the 8th. here we go. she wants to lead britain's exit from europe and she wants to be the leader who pulls them out and negotiates the out. who is joining us today with more on this? james freeman with the wall street journal editorial page and a fox news contributor. how about that? >> quite an honor, thank you. stuart: this solidifies britain getting out of europe.

that's what it does. >> that's right, i think she wants a strong hand. she wants to confidently drive a hard bargain with the eu, saying we want a good economic deal, even though we're not going to be part of the union anymore. >> and she's in a very strong position because, as i understand it, she is 21 points ahead of her opponent in the labor party. that's a very big lead. >> that's right, and she wants to have a mandate to cut this new deal with the eu. she doesn't want to just be the person who replaced david cameron because he failed. she wants a clear new signal from voters that they are behind her as she negotiates the new economic arrangement. stuart: by the way in britain, there's only a six week campaigning season. liz: brilliant. stuart: not like america. ashley: doesn't go on forever and a big cap on how much you can spend. liz: don't you wish it's a month and a half here. stuart: do you think that's a good idea? >> refreshing versus a year ago, we're not seeing forecasts

of doom around brexit. i think the demise of london as a financial center has been greatly exaggerated and i think she's going to end up getting a pretty good deal. stuart: you're all right. i'm glad we're paying you as a fox news contributor, good stuff. we're going to open this market lower this tuesday morning and we'll be down now 70, 75 points. big financial names reporting profits this morning. bank of america, while they did well, the stocks are going up. oh, big disappointment at goldman sachs. remember, please, that's a dow sto stock, it's therefore a drag on the overall average. charles schwab not bad. that's up as well. don't forget netflix, they're going to reach 100 million subscribers, they say, by this weekend. the stock's going up today. should hit another all-time high at the opening bell. we just got the latest estimate from the imf on how much america's economy's going to grow. tell us. >> well, up to-- for this year, 2.3%, that's up

just a hair from their original prediction. as for next year, up to 2 1/2%, that's up almost 1/2 a percent from the prediction, christine lagarde, head of imf, said vocally, if donald trump gets the policies through, it's going to be a huge boost for the u.s. economy, if. stuart: why am i not surprised there's no impact on the stock market from that tiny move up from the imf no less. and we're going to be down 73. that's the way it is, sports fans. treasury secretary mnuchin says that tax reform is not happening before the august recess. that's different from what we told our own neil cavuto back on march the 1st. watch this. >> our objective is to pass tax reform by the august recess and i think that's a very aggressive timetable, but realistic and something that the president and i are very committed to doing. >> so by august, voted, done, agreed. >> and signed. stuart: well, not going to be like that. he's just given another

interview where he says it's delayed until after the august recess. james, it's disappointing. >> just to underline what you've been saying a lot, i wonder if march 1 is a coincidence when he made the remarks, because we saw the stock indexes rising through election day through march 1, since then it's down and reflecting pessimism when and how far this reform goes. i still think they're going to get tax reform, but i think maybe they need to focus on not necessarily a grand redesign, but just cutting rates across the board. stuart: i think you're right and what it comes down to. >> very bitter about this delay. stuart: the judge is with us. [laughter] >> hold on, let me introduce you properly, may i do that? >> of course, sir. stuart: president trump must sign a new executive order, buy american, hire american and a review of the h1b visa, and

change from a lottery to a merit-based system. the judge is here. now, can he do that? that's a big change. >> yes. stuart: you draw from a lottery to merit-based, that's a big deal, can he do it? >> there is a he a lot of components what he's going to put in whether he'll sign in wisconsin. this is one he can't do on his own and needs congress for and i share your view, congress is not moving fast enough or aggressively enough on any of these things. my colleague lou dobbs called for resignation of the speaker of the house of representatives because the house is moving so slow. we'll see where that-- so slowly, we'll see where that goes. this cannot be done on his own. he can certainly direct federal agencies to begin hiring americans and stop, stop the visas that permit people who are not documented to work. stuart: yeah, i mean, it's just another sign that you've got to

go to an executive order which is not what we want. we want legislation. >> remember, an executive order permits him to regulate the executive branch of the government. it does not extend any governmental controls or freedom to other aspects of the economy. if he wants to buy american, and hire american, he can only do that with an act of congress. stuart: let me bring to your attention, this argument about the president and his x forms, whether to reveal or not. here is what nancy pelosi has to say. she's blasting president trump on tax day, by the way. here is the quote, this tax day serves as a sour reminder of president trump's disrespect of americans' right to know the president's conflicts of interest. what are president trump and the republican congress hiding. who does president trump owe, america needs to know. does anybody have the right, as speaker pelosi says, the right to see somebody else's tax

return? >> of course not. my reaction is the same as the president's. this was a legitimate campaign issue and he won the election and it's no longer relevant. i wonder if she understands what tax returns reveal. if he owes y to an entity that's not showing up on a tax return. stuart: it might shows up if he pushes through tax reform and lowers rates it might show conflict of interest, that he would gain enormously. >> that's not a conflict of interest. because when tax rates go down, everybody benefits by it, including the members of congress, who vote for the lower rates and the president who signs it into law. stuart: supposing the people in his cabinet who may represent interests which will benefit greatly from fax cuts, what enthis? >> the people in his cabinet theoretically don't represent any interests at all and they've all been vetted by the government ethics entity, which

is a nonpartisan entity that vets everybody that gets confirmed by the senate. stuart: so there's no conflict of interest. >> there's no conflict of interest. this is the morbid curiosity that people have for the number of tax dollars donald trump sends to the irs. stuart: no, it's a fishing expedition on the part of the left on the tax return that's yay big, surely you can find something embarrassing in a tax return that's yay big. >> they would love to do that. it's irrelevant, too little, too late. stuart: it's the president's decision. >> it the taxpayer's decision. your tax return, anybody's tax return the government holds it in the highest level of secrecy. the government sometimes does violate the secrecy laws, but that's another argument for another time. stuart: save it till later. judge, thank you very much. >> you're welcome. stuart: the president's crackdown on illegal immigrants, seems to be working more than 30% increase of arrests of illegals since the election. we've got the numbers for you.

the search for a man who posted a brutal murder on facebook going nation-wide, the u.s. marshals and the a.t.f. on the manhunt for that gentleman. more details on that, too. wisconsin's governor, scott walker getting rid of a mandate requiring the state to hire union workers for taxpayer-funded projects. wisconsin's lt. governor coming up on that next.

don't let dust and allergens get between you and life's beautiful moments. flonase allergy relief delivers more complete relief. flonase helps block 6 key inflammatory substances that cause all your symptoms, including nasal congestion and itchy, watery eyes. flonase is an allergy nasal spray that works even beyond the nose. so you can enjoy every beautiful moment to the fullest. flonase. 6>1 changes everything. every chip, and every putt, is data that can make the difference between winning and losing. the microsoft cloud helps the pga tour turn countless points of data into insights that transform their business and will enhance the game

for players and fans. the microsoft cloud turns information into insight.

>> venezuela illegally issuing pat ports for people from syria and from iran. how many passports are we talking about? >> 10,000. this charge comes from the former director of venezuela's office of immigration and migration. so, he's saying during his 17 months on the job, the vice-president, let me give you his name. his name is tarek el-simi, allegedly connections to hezbollah and traffic drug

trafficker. they were giving out passports and visas to people in the middle east, in iran and syria. stuart: wonder how much they charge. liz: one footnote. when asked about it he said these are my cousins let them in. the trump administration did sanction him and this is a story going on. stuart: to politics, wisconsin governor scott walker taking on the unions again and joining us now is wisconsin lt. governor rebecca clayfish. lt. governor, ma'am, welcome to the program. >> thank you. stuart: as i understand it, when he signs this bill they will not have to employ union labor on taxpayer-funded building projects, they won't have to, have i go the it right? >> you have it exactly right. the governor signed the project labor agreements bill into law yesterday and that's exactly

what it does. it eliminates a requirement that they have to be engaged with a company that employs a union. basically this gives municipalities and other government entities more freedom to choose how they do taxpayer dollars. stuart: does it make government projects in wisconsin cheaper, maybe? is that the intention as well? >> well, when you're collecting st. patrick's dollars know ared to spend them on project that will ultimately benefit taxpayers. you want to make sure something is do as efficiently with as much cost effectiveness as possible. and it will be a better deal for the taxpayers who funded that in the first place. stuart: the president is visiting a snap-on tool facility in kenosha, wisconsin. what's he doing there? what's he up to? >> well, today he will sign

executive orders relative to buy american, hire american and we could not be more pleased that he chose kenosha-based snap-on tools in order to make his executive orders public on such an important thing. here in wisconsin, we like to think that we feed and supply the world, and snap-on tools is no exception. stuart: is this a reward? >> today he's going to take a deep dive into what one of his campaign promises. stuart: is it a reward to the state of wisconsin which gave him a win last november, the first win for a republican in a couple of decades, i believe? is this a reward? >> well, i don't know that that's necessarily what is on the president's mind, rewarding our voters. i think more than anything, he's chosen wisconsin because we're still a manufacturing-based, a goods-based economy here and we care deeply about supporting american workers with american jobs. here is our state, we have about 95,000 open jobs and we

want those jobs to go to wiscons wisconsinites. that's one of the things that the president will do with the executive order, hiring americans and buy american companies. we know that the federal government will serve as an example to people across the united states for hiring americans, but also buy american products, made by american workers. stuart: we on fox business will being following his visit to wisconsin today. lt. governor kleefisch, thank you, we'll see you shortly. >> thank you for having me. stuart: in georgia, voters head to the polls today. there's a special election, to fill the seat to open up when tom price took a position in the administration. and president trump blasting the leading democrat in the race. we'll tell you what the president is saying about it next. you always pay

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: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $509 on auto insurance. call

for a free quote today. liberty stands with you™ liberty mutual insurance. >> oh, watch out below! we're going to be down at the opening bell, maybe 80, maybe 90 points down, disappointment because of the tax cuts being delayed. here is a big name. i'm sure you know it. gnc. i'm going to call them the vitamin people.

they're finally making a lot of money and the stock is a winner. a 20% gain when that opening bell rings, got it. president trump doing some 11th hour lobbying in the congressional special election. here is the latest tweet. the republicans must get out today and vote in georgia, an easy win, dem ossoff will raise taxes and on crime. this is a referendum on the republican party. >> i think that's a fair statement. tom price is now the hhs secretary. been republican for decades. a republican district, should be a win. i think probably as a result of the runoff election with a republican eventually winning, but if this 30-year-old democrat manages to beat the field of republicans and get over 50%, i think the excuse from republicans is going to

be, well, we had all of these people in the race, it was a muddled message, but, yes-- >> that won't be goodments hard to see a silver lining. stuart: the gentleman in the center, 30 years old. a democrat candidate. if he wins or does very, very well and the republican's margin of victory is very low, that will be taken as con temp nation of the republican party. you've done nothing. liz: and that's right, is it a crack in the red wall rising? right? >> good question, if he does well, if mr. ossoff does well or wins, think what message that sends to republicans who return to congress next monday. ashley: let's hope they hear it with their tail between their legs. stuart: looks like they'll do something. liz: it looks like they're going into mid-terms without even a border wall. stuart: nothing at all is what they're coming up with. >> i don't think he'll win, i think he's going to get in the

40's and then i'm guessing losing to karen handle. but one to watch, if it goes the wrong way, a lot of scared republicans in congress. stuart: and the congressman who represented georgia six where the vote is being taken todayment we'll ask him about today's special election. now we're going to be down 80 points for the dow industrials. ashley: goldman sachs disappointing earnings are taking about 50 points of the dow loss. stuart: so goldman way down. ashley: a huge drag. stuart: it's a dow stock and part of the 80-point drop there. the other part i suspect is the delay in the tax cut. liz: yes, i agree. stuart: a lot of people are disappointed, myself included. [laughter] >> we're down 80-odd points to the opening bell and we will bring you to the opening bell shortly. think your large cap equity fund

has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp

>> all right. we open this market in 35 seconds. the early indication is that we're going down at the opening bell, down 17, maybe 80 points. do remember, we were up 180 yesterday. so only part of yesterday's gain will be canceled out at the opening bell today. what's the problem today? in my opinion, it is this delay

in the tax cuts. it's formally delayed. treasury secretary mnuchin says it's not going to be by august. you've got to wait until the fall. i don't think that's the kind of news that the market really wants. i think the only thing holding up the market is decent profits from corporations. here we go. we're off, we're running, it's tuesday morning. i see a lot of red there. down 80 points in the first few seconds of business, now we're down 100 points. got it. a sea of red on the left-hand side of the screen and i see only three dow stocks going up. wal-mart, coke and mcdonald's. okay, the price of gold, let's get to that. it's been going up recently. today is down four bucks just shy of $1300 an ounce. that's a safe haven and a little retreat from that today. the yield on the 10-year treasury at a low point. 2.22%. i guess treasuries are still a safe haven. big financial names came out with their financial reports, first thing this morning.

right before the opening bell. bank of america, goldman sachs, charles schwab, the earnings report, the big drop there from goldman sachs, that's a dow stock, please remember and that's accounting for 50 points of the dow's 96-point drop. don't forget netflix. they're say they're going to have 100 million subscribers by this weekend. it's opened virtually flat, close to its all-time high. how about that? joining us, ashley webster, elizabeth mcdonald, mike murphy and steve cortez, i say earnings, the most important thing that's holding this market up because washington is doing nothing, investors are just looking at decent profits. anybody want to take me on, mike murphy to start with? >> i'm going to agree with you, stuart. i think you have earnings that really are going to prop this market up, and we wanted to see tax reform sooner. that's a fact. but we're already mid april

right now, we're not seeing if mnuchin tells us it's going to be delayed, but i think the earnings that have come out so far are good enough to support the markets at these levels and i look really at the financials. goldman missed this morning, has to do with trading. all of their top employees are in washington working with president trump so they had a miss this quarter, but you look at citi, look at bank of america, j.p. morgan, enough, the financials are the leader, technology leaders, supports the market up here, 20,500. ashley: i do think that geopolitical does play a little role in the sentiment where you have the tensions with north korea, ongoing with syria, we also have french elections this weekend which could also stir the markets a little bit based on the-- >> question, is there a lack of leadership in washington d.c. on tax cuts, tax reform? a lack of leadership? >> i would say yes, but i think there's a lack of unity in the republican party to get something done. liz: okay. stuart: steve cortez, what say you?

i'm saying that a part of the market selloff this morning, part of it, woo he don't get a tax cuts disappointment we don't get that. >> mid day, e market csed strong. at least yesterday the mket was able to brush this off, today maybe not so much. bigger picture, i think here is where the reality is. i agree with mike murphy. i think the earnings right now are strong enough to support present values in the market. i'm very encouraged by bank of america's earnings today and by the comments, even more so out of their ceo moynihan where he talks how strong the consumer is because bank of america has as good a read on the consumer as any organization in america. so, that's reaffirming. stuart: i'm sorry, do you own bank of america? >> i do not, i do not. to get us to the next leg higher, i do think we need taxes and we need tax reform, not in august, not in the fall. we need it now. i can't believe that congress just went on a two week

vacation, vacation from what? they were so exhausted from doing nothing, they needed to take easter break. i don't think they should get a recess until they have the taxes for the american people. stuart: i think the leader of the house or whom so ever has the authority, you stay working through the summer recess phil you get something done with the president's growth agenda. if that announcement were made, i think you would see a second leg up. >> totally agree. stuart: i'm glad we're all behind my idea there. [laughter] >> get back to financials, bank of america made good money. goldman sachs did not make real good money. charles schwab okay. there you see the result. mike murphy, would you buy any of them right now, any of those three? >> we own and are buying xlf, which is an etf that owns all of those financials, i'd look at goldman on the pullback. i'm going to call this a one-time miss for the quarter and give them the benefit of the doubt. stuart: by the way, we're showing you mcdonald's, that's a high for that stock.

it's up a buck, at 132. i've got news on that and i'll get to it in a second and that's why the stock is up. 132, mcdonald's. how about netflix? they say they'll have 100 million subscribers by this weekend when they'll pass that mark. steve cortez, comen, please. would you buy netflix? is that a big enough number for you, 100 million subscribers, is that a big enough number to make you buy netflix at 144? >> you know, i would, stuart. i don't own the stock, but i'm interested. i tend to like big cap tech in general and the fangs, facebook, amazon, netflix and google. and let's put it in context, the pullback, we're near all-time high. recording netflix, what i like about the stock, i want to see how it trades the rest of the day. earnings report yesterday were constructive, but it did miss on subscribers, missed what wall street was looking for, despite that, the stock is

hanging in. that tells me there's an underlying bid here, buyers set to emerge on the smallest bad news. i want to see how it closes today, but in general i like big cap tech a lot. stuart: they are spending an arm and a leg. liz: 15 billion over five years. stuart: original content. ashley: content is so expensive. stuart: they like it, 145. >> a growth company needs to spend in order to grow and netflix is one of the picture perfect companies. stuart: murphy, do you own it? >> don't own netflix, i came on the show and we bought the stock-- a pullback came all the way down to the low to mid 80's, we bought it and talked about it on the show. sold it on a rally close to 100. not in it, but on any pullback, i'd love to-- >> you profiteer, have you not shame? [laughter] >> and upgrading mcdonald's largely on the plan for mobile order and pickup at every location across the country.

that's an all-time high. 133, i think it hit just a little earlier. that's a blow, isn't it, to the five for 15 crowd. >> it is, and wendy's is moving on this, too, and burger king and jack in the box and panera. stuart: you go to $15 an hour minimum wage and they eradicate $15 an hour worker you've got a mobile app, call them up-- don't call them. ashley: you order. stuart: okay, you order on-line. ashley: yeah. stuart: you walk in, pick it up, already paid for, via the app and walk out. that's it. >> and starbucks put this into effect about a year or so ago and worked out great for them. the key, you don't have to wait in line, they can turn more people other in the same store and equals more. i'm not a fan of mcdonald's' product, but--

>> don't you like the fries? >> i'll eat the fries. stuart: the low, we were down 106, now we're down 80. 20,500 despite no action from congress on obamacare and tax reform. maybe you're right, murphy. maybe, maybe. >> the squirrel. stuart: the price of oil is $52 per barrel. no big news there. price of gasoline national average, $2.40 per gallon. not bad. it has been going up recently. look at this, harley davidson profit down 25%. shipped far fewer motor bikes and they're down 4%, that's the stock. j & j, the revenue missed expectations. they didn't sell as many drugs. down 2%. united health posts strong results, boost its forecast and what do you know, it's up 1 1/2% and then we have chipotle, remember them? raising prices for the first

time since the e. coli outbreak. what do you guys say about this. liz: look at this, the stock is hitting more than a one-year high. they've tried everything, tried discounts, tried free food after that massive food illness outbreak and what do they do, they buy back stock and now they're raising prices at about a quarter of the stores, i think. the stock is popping 25% since the beginning of the year after five straight quarters of same-store sales declines. that's the fix, raise prices. >> fast answer, steve cortez, would you buy chipotle at 468? >> i should because the cortez family loves chipotle so much, and spd so much money there, i should participate on the ion on some of the profits on chipotle no, seriously, i generally like the stock here. look, i like stocks in general right now and lets me give you one more bullish nugget today. the president is going to wisconsin talking about buy american and hire american and

i think that's going to enthuse them. stuart: snapchat denies the ceo labeled india as a poor country. the internet trolls had a field day with this one. ashley: india and spain, actually. stuart: india and spain, he basically told the truth. liz: he was accused of it. he's denying it. ashley: a disgruntled employ hee, remember the source, to lizzie's point. a disgruntled employee filed the lawsuit. stuart: did he? >> it came from court documents. stuart: shaking your head? >> anytime a headline starts with a disgruntled employee, you have to take it with a grain of salt. the biggest thing about snapchat, facebook seems to be playing in their back yard and beating them at their own game. i have six children and about 20 children over my house most days, everyone is on snapchat,ion of these kids, 12, 13, 14 years old.

noun of them is on facebook, they're on snapchat. liz: or tumblr. >> we should talk. stuart: what have you got to say. ashley: apparently the ceo accused in the court document, snapchat the app is only for rich people. i don't-- i find that hard to believe with a company that wants as many people to use it as possible would say something like that. stuart: you only use snapchat on a smartphone and go to countries where they've got money to buy lots and lots of smartphones. ashley: smartphones are cheaper in other parts of the world not all $500 apples. stuart: okay, how about this, britain's prime minister theresa may called a snap election, brits will vote on june the 8th. all about brexit. ashley: also about the labor party because they're in disarray and she's using an opportunity, a window to stick it to them. they could lose 70-plus seats

in the snap election, she should have a pretty strong mandate. stuart: the socialists will lose. why didn't you put that at the top of the show. [laughter] >> thanks murphy and steve cortez. appreciate you being here. the he president will sign an order, all about hiring, and breaking down the plan, he's with us next.

♪ ♪ welcome to holiday inn! ♪ ♪ thank you! ♪ ♪ wait, i have something for you! ♪ ♪ making every stay a special stay. holiday inn, smiles ahead. whether for big meetings or little getaways, member always save more at holidayinn.com >> well, i've got to say that this is a comeback. now we're down a mere 59 points. had been down well over 100. much of the loss right now is accounted for by one stock, that's goldman sachs, which is way down. it is a dow stock, driving everything else with it. now we're down just 57. well, you know it's bad when

the french chief of the international monetary fund says the united states needs tax reform. roll tape. >> always advocated for a reform of the u.s. tax code so that it would be made simpler, more efficient and we certainly hope to see some reform. we are very mindful, though, of the impact that it has on the rest of the world. stuart: i'm sure you are, ma'am. ashley: well, strong dollar because of a booming economy because of tax reform, that's the logic of thinking there. christine lagarde, she's a big supporter globalization and critical of donald trump's america's first rhetoric, but does agree that simplifying the tax code as we all agree is the best to get the economy moving on the corporate and individual level. stuart: i just want to hear more about lowering corporate and individual tax rates. it's well and good saying we

want to turn out our tax report on a post card. whoop-de-doo. . ashley: we should talk about that more. liz: you don't talk about it enough. [laughter] >> you should see the comments that come in about this. we'll save that till later. now, serious stuff here, the manhunt goes on nationwide now for the suspect in the fatal shooting, which was shown on facebook. hillary vaughan joins us from los angeles with the latest. what's going on, hillary? >> hey, stuart, well, we just heard from the cleveland police chief minutes ago and he confirms the manhunt is still on for steve stephens and the search is now nationwide. he says they've received over 400 tips and calls from across the nation, some as far away as texas. chief williams says that police have been pouring over surveillance video. anything that could help trace his tracks, they're looking for a 2016 white ford focus with temporary ohio tags.

williams says that because it's such a popular car, they've had a lot of calls, but none have led to the fugitive and he says the car is not equipped with any gps tracking that could help police track down where stephens is hiding. they're asking for the public everywhere to keep an eye out and call anything in. stephens is now one of the fbi's most wanted and authorities are offering a $50,000 reward for any info that can lead investigators to him. the fbi said they have received numerous tips and none of them turned out. there are wanted billboards even here in california with stephens' face alerting drivers to keep an eye out. the fbi says that stephens could be anywhere, but williams says they have no reason to believe that he has left ohio yet, stuart. stuart: hillary, welcome to fox business. this is your first appearance on the "varney & company" show. welcome aboard, great to have you with us, hillary. thank you very much. >> thank you, stuart. stuart: sure thing. we'll see you again. now, president trump is going to sign a new executive order

on buy american, hire american. peter navarro is with n. the white house national trade council. peter, tell me about the-- >> stuart, how are you? say hi, first, it's been a while. how formal you are. >> i want you to explain what the president wants to do with the h1b visa, he wants to release a lottery system with a merit-based system. >> you're right, the lottery and the american worker never wins the lottery. it's turned into a game and if you want a game that wins for american workers you've got to change the rules and that's what the hire american part of this executive order today does. it's this historic order on that alone because we've been grappling with that problem for many, many years.

the president is finally doing something definitively about it and that's good for american workers. >> does the president, does your team believe that there is fraud in the h1b visa program, that people are coming in, who are know the at the skill level they're supposed to be, they're just cheap of the that's the suspicious, isn't it? >> fraud i think is the wrong word. i think abuse and gaming is the problem. what you have is firms basically that load up on the number of people that participate in that lottery in a way which advantages those people at the expense of american workers. so, there's been some well-known abuses of that, but the bottom line. we want the jobs for american workers, with skills, and we don't want to have american workers basically losing their jobs and then having to train their replacements. that kind of stuff won't trap under president trump. stuart: peter, will you join me in this.

>> wait a second, that's always dangerous. stuart: i want congress to stay and work all the way through the summer recess until they get something done on taxes and obamacare. forget going back to the-- forget july the 4th barbecues. you stay there and you work. are you in a position to agree with me? >> am i in-- i'm standing right here at pebble beach as they call it so i guess i could agree with you on this, we need a tax bill. stuart: yeah. >> that's consistent with president trump's promises. and we need to as soon as possible. remember, during the campaign one of the most important promises was to lower that corporate tax rate so that we could keep companies here and create a bunch of jobs. so, yes, we need tax reform. stuart: please have a word with the powers that be and urge them to keep congress here or there, in d.c., and get some work done. i mean-- >> i thought i was having a word with the powers that be. [laughter]

>> i just want to share with you my disappointment and the sappntment of a lot of our viewers that nothing has been done and it's very hard to put up with that. last word to you, peter. >> last word. the buy american portion of this executive order today which we didn't get to talk about is really a new muscular form of buy american. it fulfills an important campaign promise of the president and what it's going to mean, it's going to mean good jobs for american workers when taxpayer money is spent on government procurement, it's going to be made, made in america, buy america, hire america, that's a good thing, and a good day for america. stuart: you come back up to new york and sit on the set with me and we'll talk tax reform. thanks for joining us, thank you, sir. check the dow 30. we have come back and it's an even split just about 50-50, winners and losers and the dow is down 67 points. more varney after this.

you always pay

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: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $509 on auto insurance. call

for a free quote today. liberty stands with you™ liberty mutual insurance.

>> oh, here is a headline for you. arrests of illegal immigrants up 32% since president trump took office. is this mostly criminal aliens? >> it is, more than 21,000 arrests, stuart and almost all of them convicted criminals,

but arrests of noncriminal aliens is almost doubled to approximately 5500. and these ice detainers, those where they contact local authorities and say can you please hang onto this criminal illegal immigrant. that's up 75%, those requests to more than 22,000. now, and i just want to quickly mention this, illegal immigrants who have been caught multiple times driving drunk, dui defenders in the past have not been deported and now they are. stuart: that's good news, i'll take them. a new plan for president trump's border wall. no concrete needed. we're talking with the guy who came up with this one. there's a design for you.

♪

. stuart: facing reality, lower expectations. that regrettably is the state of play with president trump's growth agenda. it has been delayed, and it may be scaled down, too.

november, 2016 donald trump became president trump. the republicans took control of both the house and the senate. with that concentration of power, hopes were high that american business would be unshackled, and we would soon be on the way to prosperity again. well, as of today, and we are well into 2017, nothing has happened. actually, it's worse than that. the concentration of power simply hasn't worked out. the republicans couldn't even get the ball rolling on obamacare. and action on tax cuts has been put off until the fall. in other words, congress will have done nothing in the first year of the trump presidency or since trump was elected. mr. trump has been forced to fall back on executive orders. today, it is buy american, hire american. that's shorthand for buy products made here and employ workers born here. what people really want is

release from obamacare and release from high taxes. executive orders don't cut it like legislation. maybe republicans went back to their constituents during the east of earful. maybe next monday, they return, and we'll find out if there's any willingness to come together and do the job they were elected to do. we live and hope. and so does the stock market. the second hour of "varney & company" is about to begin. ♪ ♪ >> our objective is to pass tax reform by the august recess, and i think that's a very aggressive timetable but rellistic and something that the president and i are very committed to doing. >> so by august, voted and agreed? >> and signed. stuart: and signed. well, that was treasury secretary steve mnuchin back on march the 1st on this network telling us there would be tax reform by august. signed. it's different now.

we'll have more on that later. but let's take a look at how your money's doing in light of this delay for tax reform. no impact, frankly. the news came out middle of the day yesterday, no tax reform until the fall. the market went straight up. today, it went straight down on the opening bell, but it has come back. only 50 points down for the dow industrials, despite that tax reform delay. maybe i've got it wrong. look at the big names in technology. we call them the famous or fabulous five. facebook, amazon, microsoft, alphabet, and apple. all of them on the upside. apple just turned lower to the tune of oncent. so the money is still gointo big tech. gnc holdings, i call them the vitamin people, the nutrition store, basically, they're making money and that company has really turned around, and it's up 16%. that's its stock, and it's at 8.43. okay. so that's gnc for you. doing very well. tax reform taken off the table, at least for the

immediate future. treasury secretary mnuchin warning an august deadline is unlikely as health reform still has a long way to go. come on in, please. kristen, she's the author of this great book. government gone wild. she is the author thereof and joins me. kristen, welcome to the program. >> thank you very much. stuart: saying government gone wild, and we would love to reform it but congress is doing absolutely nothing in that direction. what do you say about that? >> yeah. i mean, most americans want a smaller government, and that's what trump promised us. but trump can't do that alone. but he is taking steps by himself quietly behind the scenes to do what he can alone. i mean, look, he's done a lot already. he has appointed a conservative to the supreme court, which was huge, and really important. he's also empowered our border patrol agents on the border. and that's critical. he signed an order in january, which will increase the number of agents down there, it will stop these catch and release policies that we had under obama.

we've already seen a 60% decrease in a legal border crossing. . stuart: all good. i agree with you entirely. all good. but on the big stuff. >> yes. stuart: obamacare, tax reform, are you disappointed with the republican party? >> oh, i'm absolutely disappointed. look, we know the democrats are going to vote "no" on any initiative that trump brings to the table. they have become the party of "no." but the insighting among the republican party has been just as harmful, and it has to stop. democrats are very good at coming together and voting as a block for the asake of the party. but republicans, they've been purists, a lot of them have been antitrump, and they tend to vote on principle. we saw that with obamacare. look, now we're stuck with obamacare because these republicans couldn't come together to get things done. now we're looking at tax reform. we've got to make this happen. we have the highest corporate tax rate in the industrialized world. and a lot of this falls on the shoulders of paul ryan, if he cannot make this happen -- stuart: well, not to mention, the freedom caucus. >> absolutely. well, the

freedom caucus -- stuart: i blame the republican party. >> yes. stuart: unable to get together. now, hold on a second. there's a special election today. it's in georgia's sixths congressional district, that's newt gingrich's old district. solid republican for decades but there's an election today and the democrat 30-year-old youngster is coming on strong. it just may be that voters send a message to the republican party get on with what you're supposed to be getting on with. what do you say? >> look, that guy needs 50% of the vote to win outright. if he doesn't get it, which he probably won't, it will go to a run off, where it will be one-on-one. it's a crowded field with nearly 20 candidates, 11 of them are republicans, they will consolidate around one candidate, he will probably lose. but the democrats think if they can switch this seat to the democrats, it will send the message to trump and humiliate trump, but i think it's the opposite. if they can't switch that seat, it's a massive humiliation for the democrats. i mean, look, if you can't win

with $10 million, it's pathetic. >> . stuart: no. it's a humiliation for the republicans. if a democrat wins, obviously. but even if he just does well. he's a 30-year-old youngster, out there on the far left. if he does well. if he comes within, like, fiv five or six points in the eventual election, that is a humiliation for the republican party. >> it is. but think about this. a year ago on this program we were talking about the importance of turnout. we have a republican in offices right now. republicans may not be as incentivized to show up at the polls. liberals, they are angry, they are more likely to be mobilized, so you cannot discount the power of mobilization. having said that, i think this kid is still going to lose, it's going to be a humiliation for the democrats. and if he loses, that sends a very strong message that the trump train is still going strong. >> . stuart: this kid. diu ll h? is he about the same age as yovery roughly. i'm not asking directly. >> i'm not trying to run and

make this big antitrump statement. stuart: i see you running eventually. that's a great book, by the way. kiersten, thanks for joining. >> we'll see you again soon. an upset of sort in that special election that takes place today in georgia. i've got that. i want to talk about the wall because shortly, in fact, right now we have on our program a man who has the blueprint for the wall itself. he's an engineer, he's come up with a way to have them build the wall without using any concrete. that gentleman right there is our guest. his name is james flanagan, he's joining us from california. when i think of the wall, i think of something like the berlin wall, which i actually saw back in the day. it was all concrete blocks and barbed wire. but your idea, your blueprint, nothing like that at all. show us, please. >> right hi. good morning. thank you for having me. actually, this wall is

designed by charles, who's a brilliant engineer and architect. i'm the man who wants to build the wall, and i want to get away from the idea of having to use concrete. this wall is steel, and it will go up faster than any concrete wall. stuart: can they get around it, under it, or over it? >> well, there's no perfect wall but this wall here has sensors, seismic sensors below it to detect any tunneling that anyone -- if anyone wants to try to dig under it, it has sensors above it, all around it, it has cameras, very technological system on this, and it will be hooked up to a computer system where every wall panel will have a serial number and tied into a computer system so if there's any type of detection, the government authorities will be able to respond right away. stuart: what's your projection on the cost of the wall that you're showing us? >> well, we're hoping we can do it for the 12 billion mark, that would be the whole border. you know, i know

there's questions of eminent domain by the rio grande. we can address that. i want a meeting with president trump or jeff sessions. i think we need to get contractors, builders, and engineers together, and we can make this work. and do it for the right price and get it done right away. this is not a morality issue anymore. this is a national security issue. and we need to control our border, and it's not about immigration. this is about national security, and we need to control our border, and we can't be having drugs and criminals and illegal activity pouring into our country. stuart: well, james, we have some texas congressman representing districts along the u.s./mexico border. they're pumping the breaks. they're questioning how the wall is going to be paid for. i mean, i'm sure you're aware of this. >> right. and i would like to ask them, i'm sure they have walls and fences around their homes. and i don't think they would want to do without those walls and. fences around their homes, so we need to find a way to make this work.

and these are people that deserve to be, you know, protected by secure border. this is our country. this is national security, and we need to find the funds and make it work. stuart: i think we also need to get on with it, james. i'm sorry to cut this short, but i'm out of time. james flanagan, thank you. see you soon. >> yes, sir. thank you. stuart: britain's prime minister teresa may shocking the brits. she has called a snap election, it will take place on june the 8th. the country wants to finalize negotiations to leave the european union. that was a surprise. ashley: it was a surprise. she's very much ahead in the polls over the other major political party, the labor party. 21-point lead there. it's a time that she could galvanize her lead, possibly stelas many as 70 more seats from labors. a window of opportunity that she says will give her a stronger mandate, there's been a strong push back ever since brexit was approved. is it a risk to her and her leadership? no. the polls would suggest not but let'not forget they

didn't think bxiwould be approv, and it was. sohere's only some ris but ultimately, she says the country is together but westminster is not. what she wants is to put through her brexit negotiations into fashion. stuart: she's got a 21-point lead over her opponent. ashley: she does and the labor party are in somewhat disarra d. stuart: are they ever. thanks, ashley. everyone told me to chill, right. steve mnuchin says tax reform will not come in august. what does that mean for the president's agenda? we are all over that story. and your taxes are due and the irs is using debt collectors for the first time in a decade. second hour of "varney & company" continues. on your big day the only tears you shed should come from joy...

...not allergies. flonase allergy relief helps block 6 key inflammatory substances that cause nasal congestion and itchy, watery eyes. it's an allergy nasal spray that works beyond the nose. flonase.

. stuart: we were down 100, came back to a minus 50 now down 80 points. how about gold? a pull back, down seven bucks moving a little bit further away from 1,300 dollars an ounce. how about this one? jp morgan. big, fancy bank looking to resurrect its home loan business with the help of hgtv stars drew and jonathan scott. they have that popularity reality show the property brothers. ashley: yeah, it is very popular. well, morgan says we got out of the business after the housing collapse, they ended up paying some 31 billion in legal settlements and ignored the residential mortgage business, but it turns out they're falling behind their competitors. less than one and ten of jp morgan chase customers have

their home loan through that bank. so they're, like. okay. there you see the property brothers there on the screen, they're going to have guys, they're going to be running ads for jp morgan chase encouraging people to get a home loan. stuart: nice leveraging of your name from television into your name of advertising through a major bank. they're going to do well, i think. now, you might have to wait longer for your tax reform. president secretary mnuchin says that august deadline is wildly unrealistic. debbie joins us, fox news contributor. are you as angry as i am at the republican party, david? >> well, i pay attention, i'm very disturbed that they've not been able to act much more of president trump's agenda so far in his administration. that's for certain. stuart: well, i find this in extreme disappointment that nothing has been done so far.

you're not going to get tax reform, at least until the form. and but we do get tax reform, it may be just a drop in the corporate tax rate. that's not what we voted for, david. >> well, look, let me just say this, and i totally understand where you're coming from. the president is fully onboard with trying to get a big tax reform package through congress. what congress did, what the leadership of congress did is fail the president by getting a consensus on obamacare repeal and replace. and when that stalled, it does have a ripple effect on everything else from a calendar standpoint. it doesn't mean that we're not full steam ahead for tax reform, and i'm very excited about the president's agenda here when it comes to cutting individual rates, cutting it happen corporate rates, and having a reform package overall. stuart: yeah, we're all excited something. i mean, the country needs to get moving. what do you say to this idea?

congress does not go on summer recess, you stay there until you do something about obamacare and taxes. and if you have to work through july the 4th barbecue weekend, i don't care. you stayhere. what do you say? >> well, look, i've been a big fan of congress being out of washington because it seems they spend less of our money when they're not in session. but i do agree with your premise, they do need to be here to get this important work done and get our economy rolling again. president trump has an amazing plan to bring jobs back to america, to bring corporations back to america and hire more people here in this country instead of exporting jobs abroad. so we need congress to pay very close attention to what the american people voted for in november. stuart: i've got a suspicion that voters will send a message to the republicans today in that congressional district in georgia where they're voting. i suspect they will send a very strong message to the republicans, and i hope they

listen when they get back from their vacation. david, i'm sorry to be so bad tempered and all over you like this, but you know what i mean. i've had enough. >> well, i do. and i think we're going to do well in georgia today. stuart: okay. we shall see. david, come back soon. love to have you on again. thanks, david. georgia, as we said heads to the polls today like in november. hollywood actors are pushing cash towards that gentleman there, he is the democrat candidate. he's only 30 years old. soon on this program, former house speaker newt gingrich, he'll join us. give us his take. the congressional district where they vote today was newt's congressional district, and he's the one that corralled the republicans into doing something when he was speaker. he's on the show shortly you always pay

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: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $509 on auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance.

. stuart: there you have it. now we're down about 100 points. yeah, exactly 100 points. 20,500 is the level. how about this? we have wells fargo upgrading mcdonald's stock. mcdonald's is going to a mobile organized system across the country all outlets by the end of the year. more convenient for customers. however, i've got to ask you, liz, what would that mobile organized, what would that do to the $15 per hour movement? liz: really bad to order off of your phone and then pick it up in the store. this comes after they did the nationwide roll out of kiosks. so that fight for 15, remember, they're laying off people at the iscu, what's going on here is mcdonald's is going to roll out to all 14,000 u.s. stores, wendy's, jack and the box, burger king thinking of testing this as well. what's happening? chipotle is coming out with

its own hamburger,. stuart: the bottom line is if you want $15 per hour. okay. you might get it. but not many jobs. liz: profit margins for these restaurants, yeah,. stuart: you're gone. you're finished. uncle sam looking to help on collecting paid taxes. hiring debt collectors. first time we've seen this in eight years. gerri willis is here and she says this could end very badly. >> watch out for this. first of all, i want to name these debt collectors because people need to happen. so these folks are cve, pioneer, here's the deal. the last time we did this and there was a big study of how effective these folks were, not effective. irs agents collect at a rate of 9.2%, these private debt collectors 5.4. when you count up how much

money they get, which is 25% they collect,. stuart: would the irs say they have a staff cut, therefore they need outside help? >> i'm sure they would argue that, but does that make sense? that's doubling down on stupid in my view. and here's the other view -- oh, i said that about the irs on tv. stuart: are you wearing black for tax day? >> yeah. i am. sympathy for taxpayers. one other thing you need to know here. when you hand this over to debt collectors, scammers will immerse natur i imitate those debt collectors because you know those scammers are going to take advantage of this. stuart: gargerri willis, you are the picture of exacerbation this morning. >> i think i fit in well here. stuart: april 18th. that's not normally tax day. >> the way it fell on the calendar on the weekend, they had to move it. stuart: so today is tax day.

>> today is your day, so get on it if you are not done. irs.gov, you can file there. get it done. stuart: used to be lines it he post office. ashley: yes. stuart: not anymore. ashley: no. those are the old days. . stuart: all right. gerri, great story. thanks for joining us. appreciate it. dems won't give it up. speaker pelosi, former speaker pelosi using tax can day to dredge up of what is trump hiding with his tax returns? newt gingrich on that in just a moment. britain's prime minister teresa may has called a snap election. it's going to be held june the 8th. britain is heading towards leaving europe and france is heading towards an election this sunday. does that have anything to do with us? it's a good question, and we will answer it.

..

stuart: we are down on the stock exchange, dell industrial the roughly 100 points. there is dismay that the tax cut will be delayed until after august, well into the fall. the market propped up a little bit by solid earnings reports. these other fabulous five technology companies would only two or three are down. facebook coming down by $.42, google and alphabet down $1.50, apple is down $0.09, microsoft up, amazon up. mixed picture from the fabulous five. the search for the man accused of shooting and killing a 74-year-old man and posting the video on facebook is still going on. facebook says we disabled the suspect's account within 20 minutes of receiving the first report about the murder video

and two hours after receiving a report of any kind but we know we need to do better. dagen: first he posted the video threatening to kill the guy on his personal account. facebook disabled that within 23 minutes. then he starts live streaming posting a video of the shooting. they took that down within an hour and 45 minutes. facebook was criticizing waiting three hours, why not ask faster, they say they need to do better, live streaming, last year, 50 plus incidents of murders and rapes and abuse live streamed so this is a serious issue. facebook debuted at the town hall, a way to connect with people but it is glorifying violence, people are mimicking it. stuart: do you have the technical means available to stop it? we think you do. dagen: how do you stop child porn? stuart: make it an offense to watch it, post it, take part in it.

they can't do that with violence. for another day we will discuss that. the president is looking to stop, prevent a big upset in the georgia election which takes place today. here is the president's tweet, democrat john ossof would be a disaster in congress, we gun crime, bad for jobs and wants higher taxes, say no. here is newt gingrich, former house speaker and a man who held that the industrial is congressional district seat. this seems to me to be a referendum on the performance of the republican party. i don't think much of the performance of the republican party, what say you? >> first of all, it is a choice between a liberal democrat who doesn't even live in the district who has raised $12 million nationally, supported by left-wing hollywood celebrities, and even bnew yorkagazine which put him on the cover, a

tol outsider representing outside values and was made complicated, 11 republican candidates competing to come in second so made it messier. of tonight the democrat who by the way can't even vote in the district, doesn't live there, if the democrat comes in short of 50% he will lose the runoff in june period. it is more a situation where people initially were confused, i don't need to vote now, i can vote later but with the president's help and the help of tom price and a lot of other people i think we communicated. i have been on radio and tv urging people, do you know anybody in the district, call, email them, facebook them, tweet them, make sure they vote today. all the republicans vote today the democrat will not be the majority and he will lose the runoff. stuart: 20 years ago when you were speaker of the house you

corralled the republican party and got stuff done. fast forward to today another republican party that runs the house and senate but can't get anything done. i am annoyed and angry about this because they let the president down, what say you? >> i think wntary system. you don't come in with a majority and wave a magic wand. ronald reagan had 16 years from the time he gave his first great national speech to barry goldwater including eight years as governor of california. i had 16 years to build a majority from the time i got elected until we won so we had a long time to build the contract with america, to build a team, donald trump had 15 months. he has gone a conservative supreme court judge, give credit to mitch mcconnell, they passed a whole series of regulatory reform bills that are rolled back regulatio more than any

time in american history, have a huge problem with healthcare but this is a secret nobody wants to deal with. healthcare is a huge problem. it is one fifth of the economy and his life and death and they have to go slower and take their time but i can tell you i talk to people in the house and senate, we will get healthcare fitch and it will be a dramatically better program, less expensive program and the program that does a lot to help people live longer and more conveniently and live less expensively. not going to happen overnight. stuart: you are saying we will eventually get healthcare done, we will get a tax-cut done. we just have to wait and be patient. is that what you are saying? >> i don't mind people being irritated and going to town hall meetings are picking up the phone but the pressure is going to work. we are having a big important

national conversation and we got to sort it out and figure out 95% of the country like the fact there are no preconditions. that is a pretty big deal means if you want to keep a majority you better make sure your health bill has no preconditions in it. that takes talking it through. and it took me all the advantages i have, it took me 18 months, through the house and senate signed into law. 18 months and that was a bill with 90% approval. a complicated process. stuart: we will have you back on the show real soon. donald trump taking foreign policy approach on north korea hoping it will make them more

successful than past administrations. listen to this. >> don't want to telegraph what i'm doing or thinking, they say we are going to do this in four weeks, doesn't work that way. we will see what happens. stuart: brian kill need of fox and friends, let's -- it seems to me donald trump is taking on north korea in a way nobody has before. >> he is getting more results than the obama administration official says they never see this level of cooperation from china and this is why. we know about the shipment of coal being turned around, we know about civilian flights between the two countries being shut off for an entire month and maybe even longer. now we want to see if the increase in exports from china to north korea can be cut down but they have improved 37%. at the same time we know that

china did not show up at the big military display parade that took place saturday. donald trump knows, nogointo get into a shooting war with north korea but instead of patients he is using pressure, the vice president, the secretary of defense, i am fascinated by watching this play out. stuart: i'm fascinated by the country's response. it seems like the country wants this, want something done after two decades of doing nothing. i think the country is behind donald trump at this point but it all depends what happens next. what do we do if the north koreans do set off another nuclear test. what is our response? >> another nuclear test, hard to imagine. one thing speculated with gordon chang and a little bit earlier, one thing we could do is go to those individual chinese companies that supply this

material, the south koreans want it fished out, pass fail missile tests and some of the parts are from china. even though the companies that made them, they could say don't be offended, i will sanction your company that are dealing with this outlaw regime. maybe that would put pressure on china like they never felt before and maybe that would help out. the problem is the undercurrent chaos in the political system in south korea, this administration is so slow to hire, we don't have a us ambassador to south korea and there last elected president is going to jail indicted on corruption charges. in the middle of the election cycle, japan sit in the back saying i hope this doesn't come to us, if it does, this regime has our back. stuart: the view of the people who call into your radio show, are they angry with the republicans? nothing has happened or angry at

donald trump? >> almost all north korea calls everything we have done so far 90 minutes, a lot are saying don't just blame president obama. it is president bush and president clinton. the difference is there is no more room for error. donald trump is the first one to take on a north korean regime that can reach us with a missile and only increasing in their technological skill with a 30-year-old that is going to be around although his eating habits are not strong, probably 30 years and getting crazier by the day. stuart: thanks for taking time from your radio show to be with us today. >> let's keep in touch. stuart varney. stuart: donald trump about to depart from milwaukee, wisconsin, he will tour the tool manufacturer, he will sign the buy american hire american executive order. all the details, you are

watching "varney and company". ♪ going down in a blaze of glory ♪ take me down ♪

stuart: peter navarro, director of the national trade council says president trump's new executive order to buy american and hire american will have a big impact on the current state

of american jobs. roll tape. >> abuse in gaming is the problem. what you have is you have firms that load up on the number of people that participate in that lottery in a way which advantages those people at the expense of american workers was there are well-known abuses of that, we want those jobs for american workers and don't want to have american workers losing jobs and train a replacement, that won't happen under donald trump.

stuart: a big interview with liz claman, she got the exclusive, on syria, roll tape. >> the ims will be called on to rebuild syria's economy. how do you convince member nations that isn't throwing good money afteat >> we cannot help syria at the moment because we would be throwing good money after it. it is the country that is in a state of war where any effort to reconstruct would be doomed to fail. stuart: i we eventually going to pay to rebuild syria? >> the imf saying it will take 20 years to rebuild syria. it is a country that only plugged in it talk market in

20009 after being unplugged for 40 years, she's talking about reconstruction spending. ashley: taxpayers pay for the rebuilding, the biggest contributor to the imf. stuart: why? ashley: very good question. >> with local oil-rich nations can step in and help out. stuart: i can't see that at all. threats from north korea, like pens now reassuring japan of america's commitment. listen to this. >> in these challenging times, we are with you 100%. in the face of provocation across the sea of japan people of this country should know that we stand with you in the defense of your security and prosperity now and always. stuart: here with us former republican congressman peter hoekstra from the state of michigan. what do you make?

are we establishing a kind of redline without saying it? >> i am not sure we established a redline but we are doing everything that has been essential to confront the threat from north korea. right after donald trump was elected, he made the effort to reach out to south korea into japan, to asia before secretary of defense matus, he went to south korea, went to japan building the relationship. mike pen is continuing that proces the president needs three things, build the relationship with south korea and the pan to have a unified strategy moving forward, reach out to congress, the senate, republican and democratic leadership in the senate to buy in to a strategy to confront north korea and then take those two steps and moved

to china to convince the chinese that america, our allies are serious about confronting north korea at this time in their weapons program. stuart: if the north koreans launch a missile, should america shoot it down? >> starting to approach the deck of the united states may take the step of shooting down a missile. whether we should or not, it is not a bad idea, it is not an attack on north korea on the land. stuart: you almost have to. if you moved in aircraft carrier battle group, a couple destroyers that have the ability to shoot down missiles, you are daring the north koreans to launch and if they launch and you do nothing about it, you lose. >> the key thing is we are

seeing, making progress. we have been working on this issue for 20 to 25 years with very little progress and north korea has continued its march on the nuclear weapons program, ballistic missiles program, china has been doing all kinds of different things, we got to watch china very closely to see whether they are going to join us in putting pressure on the north koreans to stop their program, the administration will make the judgment, one way to convince the chinese is by shooting down a missile. stuart: friends is facing and election, the first round is this sunday, you had to reset made calling a snap election for june 8th. why should we in america care about sunday's election in france, june 8th election in britain. does it matter to us?

>> you are watching what is going to happen economically in terms of trade between the eu and the united states, how are we going to confront the deal in russia, the situation in the middle east syria, libya and those things, the mass immigration, it matters in the united states with a range of issues. what you are seeing is the eu 60 years after its formation in 1957, the first stages, the foundation for the eu were laid. we are seeing tremendous strains in the eu in terms of how it moves forward. the people in each of these countries are concerned about their loss of national sovereignty, their loss of national identity, and very interested in the outcome of

these elections. stuart: we are. the dollar going straight up, thanks for joining us. treasury secretary steve mnuchin said august is no longer a possibility for tax reform. could this delay the president's entire agenda? probably. you always pay

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: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $509 on auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance.

stuart: what did i do to deserve this? some of you are happy that i am not a congressman. this came in from kathy. i'm so glad varney isn't in congress was we have too many ridiculous bills that don't make sense because they put them through just to get them done. i would rather have something done on obamacare and something done on taxes been nothing at all and i think 99% of our audience is with me. then we have this from john. what this country needs is a conservative version of snl. ashley: you should take over from sean spicer. i can see you on the podium addressing the press, wrong, next. wrong, next. stuart you are all right.

>> imagine if stuart was a congressman, from the state of frustration. stuart: i don't think i could do it. liz: don't have the patience. stuart: can use it on committees? liz: didn't the obama administration constantly tweak obamacare with waivers? get it done and fix it. ashley: nancy pelosi said past it and figure it out later. that is what kathy was referring to. stuart: a little harsh about that but i do take your point but you are totally wrong. thanks, everybody, for responding to us, we enjoy reading all of your comments, keep them coming, we will be back.

don't let dust and allergens get between you and life's beautiful moments. flonase allergy relief delivers more complete relief. flonase helps block 6 key inflammatory substances that cause all your symptoms, including nasal congestion and itchy, watery eyes. flonase is an allergy nasal spray that works even beyond the nose. so you can enjoy every beautiful moment to the fullest. flonase. 6>1 changes everything.

stuart: the financial headline this morning is the tax-cut delay.

you have to wait until the fall to see any extra money in your pocket. to those of us who went to see our country get moving that is a disappointment. i think we the people deserve better. remember the heady days of november last year when me america great again swept the republicans into the house, the white house and the senate, full control of congress. seemed like the sky was the limit at the stock market agreed, it went straight up. i am surprised the market's gains have held. if a centerpiece of the growth agenda is delayed, i would have expected a significant market pullback. in my opinion it is the hope of strong corporate profits going up. investors are running out of patience. today donald trump signed an executive order, by american, hire american. all good but an executive order changes only so much. it is the pale substitute for comprehensive legislation. the republican party should

start worrying big time. the gop will be held responsible for doing nothing when they have the power to do so much. the third hour of "varney and company" about to begin. ♪ stuart: we will take you right there, nasa launching an atlas 5 rocket to the international space station. and unmanned mission, 7600 pounds of supplies to the astronauts, we are on it. spectacular, moments from now. the big board is down 94 points, 96 points, downside move is what we had so far. the price of gold, it still is, the 10 year treasury yields

eating at 2.20%, the yield has gone down. that means a great deal of money is moving into the safe harbor of the 10 year treasury, price goes up, yield goes down. big financial names. before the opening of the stock market, bank of america did okay, stock is down a fraction, goldman sachs going down badly, 50 points of the dow's drop of 100 points. the father of american mojo and former goldman sachs guy, peter kiernan. can you make any comment on goldman sachs. >> accor the didn't mix up the trading at the same time as other firms did. go back a year ago, stock was

available in 30% less then it is today. the top mover of all financial stocks over a 52-week period. stuart: consider my premise, it would have sold off big time if not for the relative strength and hope to strong profits. >> two ways you are right. if you look at the bond, 2.2, where do you go for yield, you go to the stock market, the power of equity makes this happen, from 1990, s&p dividend yield was 3% or better, less then that today, with the hope, the promise. are we ever going to see a tax bill, something in healthcare so you can hold the placeholder in line, the market has a lot of power, better make your earnings which if you don't you will get penalized. stuart: talk about netflix, they

say they will cross the 100 million subscriber number this weekend's and fairly upbeat about the outlook. what do you say about netflix queue the king of streaming. >> another one on the outside worth watching. amazon spends more ocontent than netflix, they will both spend $6 billion and people wonder how that will fit. nbc or cbs each around $4 billion so the truth is these two players are going to fight not so much the united states but the rest of the world up for grabs where all the growth will come, watch for amazon, netflix. stuart: both stocks close to our time highs. >> netflix, i worry, the subscriber growth was not great this quarter. they are betting the ranch on

this content. ashley: not only do you have to produce content that attracts new subscribers but keep it going to maintain the base you have. >> amazon, we are going to dramatically underpriced. this is where we are going to go. there is room for a couple in the marketplace and $6 billion on content, you need a lot of subscribers to suspend those costs. stuart: back to my take at the top of the hour, this market is rapidly running out of patient, a limit to how long you can wait for any tax-cut. we are running out of patience and you say? >> the market is wanting to ask republicans one thing, what is winning, is winning stopping a bill from getting past or is winning getting action. it isn't often that you have a resident, the supreme court,

house of representatives, most gubernatorial offices him if you can pass legislation, what is winning? what are you doing with winnings in the republican party? stuart: market is running out of patience, how long you take these delays and delays and nothing happens. >> you see people coming stocks, yield keeping them alive, the stopwatch will not last forever. this organization around the trump administration doesn't create laws there is going to be an accident in the stock market. stuart: you won't tell us when. stuart: they have a little bit of by. i think a lot of people thought august was ambitious, steve mnuchin was singing the company saw, how can anyone believe august, this can't go long, we will have a problem. stuart: we are down 100 points

as we speak. it is a respectable level, 10% above where we were on election day. we haven't had the break yet. >> the way to measure risk, we are in a holding pattern. a pause, waiting for something to happen and they have got to deliver. stuart: i want to move on to venezuela of all places within a report says they are illegally issuing passports to people from syria and iran. how many? dagen: 10,000 been spearheaded by the vice president who is alleged to have about passports issued to people from syria, iran and other places in the middle east, allegations, the root of it is his father, syrian

but started an iraqi party and venezuela so 10,000 passports and visas given out wrongfully to people from the middle east with no accountability whatsoever, alleged to have ties to hezbollah and drug traffickers. stuart: i have been waiting for the establishment media to label venezuela what it is, a collapsing socialist economy collapsing because of socialism but i don't hear it. >> you won't. the setting for the people of venezuela is when they had oil at $100 a barrel and were making a fortune where did the money go? it is all gone. they threw it away, they don't have infrastructure or social safety net and all those people are in trouble. >> the justice department is investigating the looting of the big oil company, $25 billion taken out from the country, in possible real estate in the united states so going after those guys. stuart: we are down, i will go

through the markets because bottom line, we are down 100 points but look at that level, we have 20,500. how about that. the price of oil, $52 per barrel, that gas holding steady, the national average regular unleaded $2.40 just as the summer driving season gets moving the price of gasoline is moving a little higher. harley-davidson, their profit down 25% shipping fewer motorbikes, stock is down at 57, j and j have lower than expected drug sales in the company taking it on the chin. very big company down 3.5%, quite a loss for a company that size. united health posts strong results, boosts forecasts up 1%,

168. we showed you this yesterday and we will show it again because it is still going on. the kiss the kia contest lose 20 people lined up at a kia dealership, have to keep kissing the car the last one with their lips on it, last person kissing wins the car right now there are 11 people left and they get a 10 minute break every hour. could go on forever. ever seen a movie called they shoot horses with jane fonda in the 1930s, the dance contest for the last couple standing and they go on for days and days and days? i doubt there was a 10 minute that was brutal stuff. we are going to take you to the nasa rocket launch. >> c-22.

stuart: about a minute away. our technician here, liz mcdonald tells us how this works. it is going to blast off, do i have the right expression? whenever somebody drives in golf you are blasting off, don't do that. the countdown will begin shortly. gigantic atlas v rocket is going to carry 70,000 pounds of equipment, 7600 pounds. ashley: a lot of groceries. >> i bet some of the stuff they went bad, chocolate or some o that stuff. >> alive view of this rocket launch, they have many cameras around the pad near the rocket.

stuart: 20 seconds to go, 25 second, we join the official countdown. serious stuff, liftoff, exist -- ignition and all that stuff. if you have ever been watching one of these takeoffs it is a spectacular event. >> 7, 6, 5, 4, 3, 2, one, go for main engine start, 0, and lift off of the atlas 5 rocket with cygnus and the ss john glenn extending the research legacy from living and working in space. >> role program has begun. >> i love that it is called the john glenn. stuart: that is a remarkable

thing, the i am glad it is american. if you have ever been to one of these lunches, it is a dramatic event, the earth does tremble and you hear the roar from a long way way and if you are lucky to see a night launch and occasionally there are night launches, not necessarily an atlas rocket, that is spectacular. >> you can see them from far away, it is a dramatic thing. stuart: that is a view from the rocket. on its way. all those people on the space station can rest assured their groceries are on the way. ats 5 rocket, 7,000, going up

to the international space station, blastoff moments ago from the florida east coast, something to watch, very successful liftoff, blastoff. they lost the stages yet? not seeing them come down yet. >> i have been watching those take offs, it never fails. stuart: you can get the shot of when the booster rockets fall off, that is what we are waiting for. the reason it is still on your screen is we are waiting for the rocket boosters to peel off and leave. great shot which that is something. if anyone here ever took a concorde, remember that? when you are at 2000, you could see the curvature of the earth. i saw the curvature of the earth from the rocket camera.

our producer says we are going to move on, keep this up to see the booster rockets. good stuff. now then, treasury secretary steve mnuchin says tax reform not happening before the august recess. joining us is peter morici. are you as disappointed as i am? i had high hopes we would get this country moving the tax-cut? >> i was looking forward to a tax cut into tax reform although i was expecting them to postpone it. they don't have a plan at the white house because they can't cut taxes for the middle class and provide a growth stimulus and not increase the deficit. they think they are going to get money out of healthcare but i don't think the healthcare reforms even if they got the ryan bill would generate enough money. they got themselves in a box, they have to accept a deficit but that creates deficit increase, procedural difficulties in the senate. stuart: here is what it will come down to.

a simple cut in the rate paid by corporations, corporate tax rate cuts, easy to do, most people agree that is what we will t. >> if you do border tax adjustments you could get a significant decrease in corporate taxes. if you merely get rid of exemptions and deductions, you can't get a moderate decrease, depends whether you want to do that or not. stuart: what do you say? peter kiernan, all we get is a corporate tax rate? >> we have to go smorgasbord. we want this on the best tax bill, that is not in the cards anytime soon as we pick and choose and let go of this revenue neutral concept and allow ourselves to have a deficit, we can get tax reform. stuart: peter morici, uk prime minister teresa may, snap election. there is the is the rocket peeling off, it is a good shot.

peter morici, the snap election called by britain's prime minister, june 8th, this is all about brexit, it solidifies that the brits will leave europe in the next couple years. >> one is she is likely to have a bigger majority in the parliament than she has now. she is doing well in the polls. in order to moderate the views which could compromise her negotiating position. labor maple her to the center in a way that gives away things she would like to have to give out later in the actual negotiations so it is a two edged sword this election. stuart: the conservative party at this moment is 21 points ahead of the labor party, a massive lead. >> i hope it stays that way because i don't want the labor party having significant influence on these negotiations with this is about leaving.

britain wants to leave on good terms and be part of europe in ways that are productive and constructive but we don't want a situation where it leaves like the norwegians paying part of their budget and complyiit their laws because norway has taxation without representation and we don't want to see britain fall into that situation. stuart: no, we do not. having left for all kinds of reasons, we do not want that. thank you for joining us, always appreciate it. peter kiernan, let me pose this to you. the snap election in britain six weeks away, june 8th. look like teresa may wins solidifying the britain's exit from europe, the french election, first round this sunday where it is possible an extreme right-winger could emerge as the front runner. i say that will lead to the dollar way up and the euro way down. what say you? >> i think the dollar is up and if you keep playing out that

important story which is a big election in france, big election in the uk, probably election later this summer in italy, definitely on schedule election in germany, all of europe, all the power centers are going through reconsideration and reassessment of where they are in the power structure and what happens to the eu. that is good for the dollar. that may frustrate donald trump because it will make a stronger dollar. stuart: a stronger dollar. peter, donald trump's crackdown on illegal immigrants looks like it is working. more than a 30% increase in arrest of illegals and facebook not going to penalize employees who take time off to protest donald trump. we will tell you about that in a moment.

♪ predictable. the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future.

ways wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business.

did you know slow internet can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. stuart: facebook giving the green light to staffers who want to protest donald trump. >> mark zuckerberg a process the president and his immigration policies so made a, international workers day on may 1st supported by socialists and communist, hundreds of thousands of people are expected included union workers to

protest against donald trump so facebook is putting an internal forum blog post saying if you want to take the day off to protest donald trump that is fine, you won't be punished or penalized and any vendors, outside contractors, like janitors and security, if you retaliate against your workers because they protest, we may reevaluate our relationship with you. stuart: do they have any understanding of the historical context of mayday, workers day? any idea about this command now this. arrest of illegal immigrants of 32% since donald trump took office. e they -- convicted criminals. ashley: 21,000 arrests from january 20th to in march, up 32.6% but arrests of noncriminal aliens have doubled to approximately 5500.

border enforcement will tell you they are putting in effect the laws that are on the books, conducting and carrying out those laws. ice detainers, request from the fed's for local authorities to hold on to convicted criminal aliens and those numbers of detainers have gone up 75%. how many of those are actually on it? i don't know. 22,000 plus detainers issued around the country, fed the coming to take the illegal aliens away. stuart: my hat times changed was voters in georgia head to the polls, special election to fill the seat when tom price took a job in the administration, donald trump entering the fray blasting the leading democrat and today the president traveled to wisconsin, a by american hire american executive order, telling federal agencies use american products and review the h1 before and visa program. judge andrew napolitano on that next.

...as a combination of see products.. and customers. every on-time arrival is backed by thousands of od employees, ...who make sure the millions of products we ship arrive without damages. because od employees treat customer service... ...like our most important delivery. od. helping the world keep promises. 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 long-term 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. ♪

♪

>> president trump doing some 11th hour lobbying in the georgia special congressional election. he tweeted this. republicans must get out today and vote in georgia. that's the sixth congressional district in georgia.

easy win. dem will raise your taxes very bad on crime and the second amendment. joining us now, nationally-syndicated radio talk show host. this surely is a referendum on the performance of the republican party thus far, is it not? >> i think it sort of is. the reason i say sort of, stuart, is because we were told this a couple weeks ago with respect to kansas. kansas was a referendum, a barometer in their special election. whoops. the republicans retained their seat. so assuming the democrat doesn't get 50% in the runoff, and i don't think he will. it's close. then will go behind a candidate, 11 people, by the way, split the vote, and they'll beat him. if that happens and all of a sudden there won't be a referendum on donald trump anymore. stuart: oh, i think there will be. the democrat candidate, he's only 30 years of age, and he can't even vote for the district he's standing for, but even close to the republican candidate.

if he really narrows that margin, the writing is on the wall because that's been a very safe republican seat for decades. newt gingrich used to hold that seat. >> you can just go too far, though. the special elections are pretty poor predictors of what's going to happen in the off year election, let alone in 2020. stuart: i want to send a message to the republicans. when you come back from your easter recess, i hope you've been listening to your constituents because you've done absolutely nothing. i want a message sent to them. >> well, again, it's the top of the first of a nibe identify inning game. secondly, it's not fair to say they've done nothing. what donald trump has done is roll back a lot of stupid elections, and every year obama was in office, he put on $800 billion of brand-new regulations on the backs of job creators. that alone is significant. and not doing stupid stuff that would have happened had hillary been elected, we would

have been talking about higher taxes, talking about a march toward the operation toward single pair for obamacare, we would have been talking about regulations to fight climate change. so stuff that donald trump hasn't done also ought to be noted as well as the stuff that he hasn't been able to do yet. stuart: i guess we disagree, larry. that's where we are. i'm going to move on. >> i guess so. stuart: speaker pelosi blasting trump about his tax returns. here's what she's saying. this tax day, which is today, by the way, serves as a sour reminder of president trump's disrespect to americans knowing their conflicts of interest. what is president trump hiding? who does president trump owe? america needs to know. so, larry, do you think the president should release his tax returns? >> pass the barf bag. let's assume for a moment that everything about obama is true, except that obama refused to turn over his tax returns just like he refused to turn over his grades and transcripts. do you suppose the democrats

be demanding they do so? i rather doubt it. and the reason, by the way, they're not demanding that donald trump turn over his tests and grades is because obama didn't do it. and the hypocrisy would be even too obvious for democrats to stomach. stuart: if he -- i know. you're laughing at me. if the president wants to reduce individual tax rates, he would gain personally enormous. not a right, but doesn't he have an obligation to tell us how much he would gain from his own policies. >> no. he does not. any tax plan is going to have a substantial amount of reductions for wealthy people because wealthy people pay a deportationally high amount of federal income taxes. the top 1%, those making about 350k and more are paying almost 40% of all the federal income taxes. so when you have tax reduction by definition, those who pay more will get a greater reduction. that's just the way it works. and so whether donald trump turns over his taxes or not, he's still going to be slammed

as a risk guy who will disproportionally risk from the tax cut. stuart: we're going to leave it there because we agree on that one and continue to disagree on the issue of republican performance. larry elder, everyone. he's all right. thanks, larry. >> thank you. stuart: i want to bring the man in to my right not politically but geographically. i want to know people's right to see other people's tax returns. there's no such right? >> you're correct on that, and i agree with larry on that. there's an interesting phrase in her condemnation of the president. she also condemns the republican congress. her name is nancy pelosi. that is the congressman from new jersey, which would force the white house to cough up the president's tax returns and speaker ryan will not permit that legislation to come to a vote. i'm certain it would be defeated on a party-line vote,

but he won't even permit the vote, which is why she is complaining. in new jersey, in a new jersey state legislature, there's legislation that would bar the name of a pridential candidate from appearing on the ballot, if that candidate refuses to reveal his income taxes. that would violate the first amendment because that is forced speech. that is the government compelling someone to speak when they don't want to, which is prohibited by the first amendment. stuart: and how long would it take to litigate that before the next election? >> you would get one right away because it would be unconstitutional, almost any federal judge wouldn't validate it. stuart: now, president trump takes off for wisconsin later this afternoon, he's going to sign an executive order buy american, hire american. enclosed within that effective order, we understand he's trying to change the immigration system. away from a lottery, where you draw a lot to who comes in.

>> right. stuart: and replace it with a merit-based system of points. you've done this, you've done that. we want you. we don't want you. >> this is very valid criticism of the congress because the congress has done nothing. the progress that has been made to secure the borders since january 20th this year is because of one man. and only one man. the president of the united states and the thousands, tens of thousands, hundreds of thousands of people in the executive branch that work for him. congress has done nothing. the president cannot change the lottery into another system that's a statute. only congress can do it. so the same congress that hasn't reduced tax rates, the same congress that hasn't gotten rid of obamacare is the same congress that hasn't touched any immigration. what have they been doing since they got to washington in january? republicans have been fighting with themselves. stuart: exactly. would you agree with me that what we should be doing is forcing congress to stay in session over the long summer holiday? they call it a recess. it's a holiday.

stay there, do your work, even if it means working on july the 4th, get it done. >> you know, i used think it was better when congress was not in session. stuart: exactly. but it's not. >> now i want congress to be in session to undo much of what its predecessor congress did under president obama. where is congress today? stuart: on vacation. >> spring break. can you imagine that congress gives itself a two-week spring break? stuart: who has the authority to say you stay? you're not going back to your constituents. you stay -- >> the president can call the congress into session. all they have to do is answer a roll call that they're there, and then they can go back home. so it's almost ridiculous. stuart: so he cannot -- nobody can compel him. >> there's two conflictive parts of the constitution. one says the president can call them in. the other says they set their own rules. their rules once they answer the roll call, they can go home. stuart: out of the corner of

my eye, i've seen the markets taken another leg down significantly. we're now off 133 points, challenging the 20,500 level. i honestly believe it's got something to do with the delay in congress doing absolutely anything about.'s growth agenda. that's where i'm coming from. that's why the dow is down 133. peter kiernan, i'm going to change subjects on you. i say this market is down because we keep on delaying tax reform and delaying the growth agenda. am i totally wrong? >> i think the market is down today because there have been some disappointing earnings from a couple of the big players in the dow. that's really what's going on. what you have is a market that's in a holding -- it's circulating the airport waiting for somebody in the control tower to call them in. that's what they're looking for. i think these executive orders, i think the judge's right. there's been a failure of imagination with h1b visas, and this is more like gun powered in the fire when you do an executive order that should be doing the job that

is not being done in congress. that is not a congress in isolation. we have to get congress back to work. they have to find a way to work together, whether it's on h1b visas and other kinds of job-crti activity. that's why the market's down. stuart: if you don't do it, the president's growth agenda is toast. it has got to be done. you've got to have significant progress this year. liz: i don't get it. they swept the congress. they got the presidency. it was one of the worst presidency the last eight years and a terrible candidate. and the gop won everything and now they're blowing it. really? >> and if the president's growth agenda is toast, do you think the republicans will control the congress after? i fully agree with you. they will not. they will lose a golden opportunity of numerical superiority. stuart: absolutely. lose that golden opportunity, and they won't get another opportunity like that for a very long time. >> that be the house

leadership of paul ryan. stuart: he has to. they all have to come under scrutiny. liz: what do you remember from the reagan administration? remember that iconic image of ronald reagan signing tax cuts? stuart: tax cuts from ronald reagan, the first round of tax cuts put me in america's middle class. i had two children, one more on the way, i got the rebate, i was walking up the food chain. that's what i was doing. liz: often running with the economy. stuart: that's what i was doing. >> republicans particularly in the freedom caucus but even more who are more centrist have to ask themselves a question what is winning? define winning. is winning blocking a bunch of bills or getting something hard and fast and in the hands of the american people? stuart: good stuff, everybody. now check this out. gulf industry leaders are headed to dc. what? they will meet with congress and members of the trump administration to discuss gulf's 70 billion-dollar contribution to the economy. we're joined next by the ceo of the world of golf

foundation. arch lobbyist, apparently. he's going to be in that meeting, and we'll meet him.

>> i'm nicole petallides with your fox business brief. stocks down 139 points right now. the dow is to the downside by almost three-quarters of 1% lagging on the dow would be johnson & johnson and goldman sachs shaving off together about 100 dow points. mcdonald's hitting all-time

high, really talking about this digital technology. kiosks, several-service kiosks and mobile organized trying to catch up to dominies pizza and starbucks. goldman sachs did fall short of the results expected. johnson & johnson were closely. sales were underwhelming there, they did give a boost of forecast going forward on their deal. also, this is a deal $1.76 billion deal, the third largest maker hear in the states buying the uk company, will be in their name. ♪ whether you're after supreme performance... ...advanced intelligence... ...or breathtaking style... ...there's a c-class just for you. decisions, decisions, decisions. lease the c300 sedan for $389 a month

at your local mercedes-benz dealer. mercedes-benz. the best or nothing.

stuart: the golf industry is becoming a lob ideologue group. they're actually going to dc. they're going to meet with members of congress and members of the trump administration. our next guest will be in the meetings. steven is with us. world golf foundation, the ceo of we are golf. he's the administrator thereof. steve, what exactly -- what do you want? >> well, stuart, it's basically two different objectives that we have. one is around educating members of congress and the administration about the size and scope of the golf industry. that is the 70 billion-dollar a year industry. it impacts about 2 million jobs. fundraising vehicle, it creates about $4 billion in shareable impact. so just trying to make that point about the impact that golf makes on the economy.

the second piece is there are some specific issues that are of importance to the golf industry and the environmental arena and the labor arena and then physical fitness arena, and we'll be having specific conversations about those particular issues. stuart: yeah, i'm told that it's almost impossible to build a brand-new golf course in america today because of environmental restrictions, and i take it that's going to be one of the main points you want sorted out. >> well, we do want to talk about environmental issues. there are golf courses being built in the united states, about 15 were built last year. about 1,00have been renovated over the last ten years. $3billion in investment. so that's not so much the issue. but there are other issues around the environment that are of importance to us, and that's specifically what we want to talk about. stuart: how do you get youngsters to take up the game? because we're constantly told it takes too long to play, the equipment you need, et cetera, et cetera, et cetera. youngsters are not taking up the game the way they used to. anything to do about that?

>> oh, absolutely. there are a number of programs that we have underway today that are actually creating greater interest in the game among young people. in fact, we have a record amount of young people taking up the game and what's really heartening about that, stuart, is the fact that a third of those new golfers, those new junior golfers are young girls, which is very from the standpoint a long-term success of the industry. stuart: yuve got to have president trump on your side. he's a golfer. he plays lots of rounds. he has built golf courses, he has built part of his fortune on golf courses. he has to be youn gung-ho for you guys. >> well, we believe that whoever plays golf, and president trump checks that box, but he has developed golf courses, he has been involved in the highest level of professional tournaments, that's unlike any other president we've had before. so on that basis, we are looking very much forward to

working with president trump and his administration and the congress over the next four years. stuart: are you going to take any golf stars with you? sergio garcia, for example? >> we'll have billie hurley the third who won the tournament, quick& loans congressional country club last year will be with us for the first congressional breakfast that morning. also dan january son will be with us as well. stuart: we wish you luck. >> thank you, stuart. stuart: now this. snapchat facing backlash after ceo siegel allegedly said the app is oy for rich people and that he doesn't want to expand into poorer countries like india and spain. what's this all about? ashley: yeah, this was picked up in court papers, filed by a disgruntled former employee. so you need to know that going in. it did create a backlash on

social sites. twitter, for instance, began a call for action using the #boycottsnapchat. but the snap, the parent company says this is purely a publicity stunt. they're not even of a disgruntled employee but actually as you say, those court papers say that evan spiegel says he's not interested in growing in those countries because the app snapchat is not for poor countries. such as india and spain. stuart: he did say that? >> well, that is what is claimed. stuart: allegedly said. ashley: yes, but you can claim anything. but, no, this is just a publicity stunt on the disgruntled employee. stuart: let's talk about the stock. did you say it was going to go somewhere or it was going to tank? >> i thought for sure that this was overpriced. i said at 24, it was okay -- 17 where they initially priced it was sort of priced to perfection. first trading at 24, i could live for. but people buying at 29, forget it.

i sold it at 25. it's now at 20, it was in the teens last week. this is finding its level. you always get a chance, almost always with these overhyped ipos. this was an overhyped ipo. stuart: okay. it's at 20 bucks a share right now. got a question for you. who are the smartest tech investors in silicon valley? forbes has the answer. their top tech reporter tells us two of the smartest in a momt you mean pay him back? so let's start talking about your long-term goals. knowing your future is about more than just you. it's how edward jones makes sense of investing. 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.

won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. switch and you could save $509 on auto insurance. call for a free quote today. liberty stands with you™. liberty mutual insurance.

stuart: all right. breaking news indeed on the facebook killer. liz: he shot and killed himself after a brief pursuit in eerie county, pennsylvania. it happened at a traffic stop, according to the pennsylvania state police. there was a brief pursuit and according to the police, he shot and killed himself. that's all we know right now. we're staying on the story for you. stuart: but it was in pennsylvania? liz: correct. stuart: thank you very much, liz. this week forbes unleashed the worldst smartest tech investors. joining us now is forbes tech reporter and the editor of the midas list. who's number one on the list? >> jim gats from sequoia,

steve anderson at baseline and then new comer to the top ten. stuart: now, these are the smartest investors, headed by jim goetz. i think that's his fourth year at number one. why is he number one? what gets him on top of the list? >> to make the midas list, you need a portfolio of at least a dozen companies that we consider eligible. we're looking for companies that are privately valued at more than $400 million or companies that went public or were acquired for $200 million or more. goetz still has the midas touch because his investment in what it is app that was acquired by facebook for $22 billion returned his firm's profits. stuart: what's app was sold to i don't remember who. >> facebook. stuart: was it 19 or $20 billion, something like that. and they've only got what? 55 employees. i mean, it was extraordinary

wealthy creation with no job creation. >> right. and what was amazing was the founder had grown up on food stamps. this is a company that was very gritty, very, you know, sort of shunning fuing and jim and sequoia basically kept nagging them and showing up until they let him invest and then kept investing and then played defense to own such a large position when they got acquired. stuart: let me get back to that list. jim at the top, and then followed by -- show me that list again. who's number two? there we go. that would be -- >> chris, the billionaire who invested in uber and twitter, among others. yeah. stuart: number three is peter. what has he done? >> peter invested in twitter as well as he had two ipos in one day where horton works went public a few months ago. stuart: steve anderson number

four. >> yeah. steve is a lone wolf. he was the first investor in instagram when it was still called brbn without the vowels, and they pivoted to what we now know is instagram, one of the most influential companies in tech. stuart: give me 20 seconds on brian, number five. >> so we went deep with brian this year. you can see the future story in the issue out now. singerman is the real power player at founders fund. he's a gamer who got a 3 billion-dollar return for stem centric, a 10 billion-dollar acquisition. he didn't know about biotech, but he learned and got this master return. stuart: that's a great list. alex, thank you for being with us and showing us. alex, thank you very much indeed. >> thanks for having me. stuart: more varney after this

. .

stuart: repeat breaking news we

brought you moments ago. pennsylvania state police say the facebook killer,. steve: fence, that man there, has committed suicide. police got a ming from his cell phone. caught him at a traffic stop. stephens shot and killed himself thereafter. neil, it is yours. >> thank you, frien we'll explore that a little bi more. such a sad story. why it took facebook so long to took down his post and his threats. i do want to thank connell mcshane. also charles payne in my absence here.