trillion dollars over 10 years dumber than -- >> i think president trump wants to sign a major tax reform congressional republicans to give him that. >> 50% do not pay any tax mary michael, dag a pleasure "varney & company" begins right now you. stuart: thanks, maria tax package delayed, and stocks are going straight up again. . what is going on? good morning everybody, it is a heed scratcher why rally long hope for tax delayed one day but a delay. have answer because according to speaker ryan corporate tax rate will drop to 20% immediately, that is a big win for business, that is what wall street cares about most. according to "the wall street journal," there will be no cut in the top tax rate for individuals it stays 39.6%,ings not good for higher income earns wall street doesn't care much about that,

sos look at this, issue left-hand side of screen a gain for dow industrials a half hour from now, servers believe that the if business pays less, about the economy will grow more, record highs are coming today, all right now the new york city terror attack lend killer rl 29-year-o 29-year-old-year-old sayfullo saipov from is you about an in 20 so o not on the travel list he came to america so-called diversity visa. that is the focus of attention now. how come 50,000 people a year are let in under this program? sayfullo saipov drove a represented truck down a bike path 8 yesterday hats off to, noers thousands turned out for the the halloween parade a mile of scene hats off to police he refused to cancel festivities no retreat, yes, it is wednesday, november 1

almost one year since election, oh what a year are it has been "varney & company" is about to begin. ♪ . >> i got oh, my gosh, oh, my god i need ambulance propriety here right here have. >> t-boned, come on, right there. >> one female that i saw you a in body she have must have seen it actually happen. because she just kept screaming -- it was -- stuart: tough stuff eye wins accounts of terror attack lower manhattan an update what is the very latest. >> the suspect himself is out of surgery, the big question now is what do we to me about this guy? we do know that the mosque in

paterson, new jersey in new york area three months attended a mosque literally right next door to it three months that mosque has been on nypd radar quite sometime as you mentioned he came to this country search on years ago under diversity visa program, are 50,000 advise az handed out a year all you have to do by the way, is is prove you have a clean criminal record how do we know we can trust that high school diploma or equivalent two years of work experience last five years you are in if a lottery, this is part of a will about i introduced by fine new york senator chuck schumer back in 1995. but they did find isis writings in arabic in truck he used to murder 8 people a print out of isis flag isis groups affiliated say they are celebrating what this guy did yesterday. all right. we are not done with this a lot more coming, but going to move away from terror to

politics, the other bile headlined of the day republicans, delaying the rollout of latest tax plan at least will no tomorrow. of them joining us now senator from republican from iowa, why this delay? >> have well, of course, we want to make sure that if we are pushing out a large tax reform bill the largest probably he since 1986 we want to make sure it is right, so if the us who is delayed, a day, house delayed a day not that concerned i am very positive about the outlook, so very excited to see what is in the tax. >> we have seen broad outline and a according to paul ryan, the 1% will either way same amount of money in tax or maybe pay even more, this is not the big tax tax cut that was promised for all people, is it? >> right. so it is interesting that discussions that are so out there again we have to look at

what ends up in the bill, i am hoping that we see is savings across the board for everyone but we need to focus, too on middle lower income -- >> the republican party promised that all tax pairs would get a cut paul ryan says top tax rate 39.6% says that is not a cut it stays if you get rid of dokes for state and local taxes, especially in high tax states, the top 1% going to pay more than they pay now. >> you bet, that is a concern. that is a concern. so we do want to see those great tax cuts, we have to focus like i said, on those middle and lower income wage earners, i know in the iowa wages have been stagnant if the we can to have more on that corporate tax rate making sure that we get back to 20% as president proposed get that at their right-of-way not feed off in, we will see great impact to the economy, and hopefully, we can help those

that are caught more in the middle, i would love to see tax cuts for everyone, but we we do have to see what the impacts will be for all vrs other families. >> i want to move to terror attack president trump tweeting about it said this after the trr attack the terrorist tris came into our country through you what is called diversity visa lottery program chuck schumer beauty. i want merit based. what do you say in response to that what about this with did iversity practice many. >> america is a adherdiverse nan we need to looking at thoses want to provide for families do right thing we want fox he that love america to don't want want about the to bring know we have to do something about radical radical terrorists. >> i know you've got to run for a vote we appreciate that,

thanks very much for takingings the time with us this morning much issue issue appreciated to markets look at this we are going to open up with a great big rally up 120 maybe 130 forrios antibiotics close to 23500 if not beyond that columnist with fiscal times with us i think this rally today, is despite delay in tax package i think all about immediate 20% tax corporations. >> notion that was phased in over several years anathema to business community and investors, because the prospect was that businesses would delay investment building up businesses hiring people in anticipation of lower rates that is an economic disincentive so this is very good news, the delay is not good news to me, it makes me worry that a lot of big issues are still

unresolved, you know what is concerning here is that this begins to sound like k have bill where it is ready it is ready examine he went we really haven't figured it out yet k i hope they come out with it tomorrow and that it makes sense. >> i got to admit i woke up this morning i looked at how futures were doing i saw a big gain then i saw the second headlined tax rollout delayed. many. >> what is happening? >> what is going on why is this market about rallying like this i think the answer is as you suggest, the 20% tax, what bothers me is that upper income people, especially he those who live in high tax states, because -- >> absolutely, and spending comes from that demographic so this is not great news for at the retailers luxury retailers et cetera, i think it is bad policy, actually, i think that everyone should get an improved incentive and, by the way, theings taxes raised on rich during their obama

administration isn't just a flat station now in you situation taxes are higher. >> i must admit certain sense of glee, wealth liberals new york new jersey california,. >> they will pay more i mean the democrats get what they want tax the rich. the -- going to tax themselves. you know. >> this is an appropriate time to remember that because of john john mccain k a trillion plus dollars was taken away from tax reform, because he tauged a are terrible are decision on part of mccain, here is where we are really trying to get this done. >> it is a middle class tax cut, it is is a growth tax

cut. >> that is the bottom line here. >> have we do indeed, stay there a lot more for you, by the way, we are going to have a lot more on so-called diversity visa program that the new york terror suspect used to get into our country, we are on this, believe me, plus,, netflix says will halted production of "house of cards" on the heels of allegations sexual harassment against the star are a kevin spacey o former house speaker he john boehner on expletive laced rant against redeems calling outs former congressman by name i am he says you disappointed in boehner will be on this program so 10:00 this morning pb more after this. looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward.

at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. that's why feeling safe is priceless. with adt, you can feel safe with an adt starter kit professionally installed for only $49.00. call today, and install an adt starter kit that includes security panel, keypad, key fob, entry and motion sensors and for a limited time, get a camera included and installed at no additional cost. that's a $449.00 value, installed, for just $49.00. adt has over 140 years

of security experience, with our commitment to customer service, and round-the- clock professional monitoring, you have the comfort of knowing that adt is helping to protect what matters most. call today, or visit adt.com to get your adt starter kit installed for just $49.00. adt. we help keep you safe, so you can feel secure. call 1-888-337-safe or visit adt.com and get your adt starter kit for just $49.00.

stuart: well, look at facebook and apple, both on the upside, they report their earnings about 4:00 this afternoon, obviously that is going to be a key determinant

of where they go from here right now, you've got a new high for facebook about 181 almost 182, apple on cusp of 170 big gains here we go, there is a decline in if gun sales, and that drove down a profit declining gun sales across the board i don't know certainly, lower on sales. >> u.s. steel profit more than doubled from a year earlier, better prices that stock up, up 8% big gain who would have thought get back to new york city terror attack suspect entered this country through the diversity visa program, president trump wants to end it that is the program he came in on. joining us us -- national security and foreign policy analyst straighten out, please this is a program, that brings in what 50,000 people a year, and do they come from muslim

kinds am i right. >> possibly over past few years basically it is a program that is is regulated by authorities here to make sure that there is is sort of quality in have diversity the bottom line very popular with people he will who apply and think they could get -- the question is is this practice many really necessary. we have hundreds of thousands of legal immigrants coming like you and me and others apply, andnd authorities have privilege and right to accept or not accept, this is not something that they have a fundamental right to emigrate you have a privilege to emgrait this program launched 17 years ago very possible about that u.s. government now can look at the situation say we don't need it we have other ways to get immigrants in the other pron blem the diversity one or norma track, we need to have vetting regardless. >> a what can you vet people

from if i used k expression third worldkins not trying to be pejorative k i rely on motor vehicle records from somalia wherever educational records from you see uzbekistan are these reliable cabinetries who you are bringing in. >> this is the lower part of vetting we want to make sure that the persons coming in are not involved in something obviously about that is criminality or organically linked to organization that we know is terrorist but we have not done, over the past 8 years 1/2 under obama administration, anything that has to do with ideology vetting is not about paperwork it is about the mind, these medium basically jihadists look system vetting peculiar to israel asked you see individuals who haves visa 1,000 questions way to detect

if inclined to become about jihadist we don't have it in united states. >> finance minister i raicht if i say would i like to keep these people out. >> no your opinion you would be racist if you want to do harm because of skin color or religion but what you are talking about is keeping the g jihadists out in not individuals like myself. >> you really want defend cities sidewalks towns, crowds, against this kind of attack number two you don't have manpower don't have staff, to o surveil people maybe popping up on radar screen 1, you you can't do -- >> i fully agree i think what we need to do is to educate the public, many will countries in the region and and now probably in europe are telling the public, what is the threat how do you detect it would help a little bit. >> not that much, huh? i mean i don't maintain to be defeatistist you you can't

eradicate it to let can you? >> thank you cannot do it out immediately overnight what you can do is -- you know a long range travel educating the public coordinating the intelligence, and basically winning the wars overseas but that is a 10 year project look we have been in this war since ins 2001. have we done right thing 16 years would have been in more he peaceful situation today. >> to a thank you very much for joining us another terror occasion thank you appreciate it. >> thank you. >> then we have a billionaire democrat donor says his online petition asking congress to impeach president trump got more than a million signatures first week, that is a high number. >> it is close to 1.2, over 10 million dollars to air this his point is says that his argument is that the trump

administrations pofs immediate endangering to a health and safety of america arcing this administration doesn't have a clue that republican congress wants to impeach president far less than trump administration, so -- what have is end game there are many say he is preparing for run for the california governor's position whatever he says, maybe, i am will willing to do anything to try and contribute to getting is back on a growth path interesting coming from the california. >> growth k path? >> yes. >> how can you about a either what we have had so far? especially he is when you k are 8 previous years obama administration he says getting -- what is endgame i don't know certainly got positiven signatures spending a lot. >> i think really hurt hurting the app the this dplaments requesting to get onboard on impeachment. >> america thinks unfair polling has joen let meing it

matt president,ings that is the something fund in the past, and my guess is among other things completely offended by direction of environmental laws. >> going to take you to florida new york stock exchange where there will be a moment of silence of the tr victims yesterday we will observe

whoooo.

i enjoy the fresher things in life. fresh towels. fresh soaps. and of course, tripadvisor's freshest, lowest... ...prices. so if you're anything ...you'll want to check tripadvisor. we now instantly compare prices... ...from over 200 booking sites... ...to find you the lowest price... ...on the hotel you want. go on, try something fresh. tripadvisor. the latest reviews. the lowest prices.

or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com.

. stuart: movements from now you are going to see a explosive and i think in expected rally, when you got up this morning you saw futures you didn't expect this. >> no, the delay in the tax being a plan coming out suggests all kinds of surprising to me. >> rebound, in have private sector employment chinese manufacturing through roof oil prices two-year high reflects that is going on around the world then amazing corporate arranges put that together very positive. >> double-digit corporate earnings texas pmi. >> big number chicago pmi up 'are looking strong. >> the latest profit report from facebook and apple record highs both stocks and a for

the overall market? what a day this is going to be moments from now. . . building a website in under an hour is easy with gocentral...

...from godaddy! in fact, 68% of people who have built their... ...website using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy. stuart: if you're just tuning in, you may be expected to see the market go down. it's not going to go down, it'll

go straight up. why do we have it going straight up? we have an answer for you in about 5 seconds though, you will see this market go straight up. we are going to be up about 100 plus right from the get-go and yes, we are. ashley: here we go. stuart: 65, 82, a solid rally right from the start. plenty of green in the left-hand side of the screen. 23,466, 67, up 90. you're pretty close to 23,500. halfway, shall we say, towards 24,000. here we go. up nearly 100 points. that's a gain of .4%. how about the s&p? up 3% the s&p, how about the nasdaq? are techs performing very well? yes, they are, nearly half percent. all time-high for nasdaq

composite. apple, that's an all-time high, i think it's awfully close at least. 169.68. they report earnings tomorrow afternoon. facebook, that's a new high. 182.48, they report profit this is afternoon. this is going to be a big day, who is going to help me cover it? ashley webster, i elizabeth peek and sean, the all-star team and hopefully liz mcdonald who will hopefully be back next week. market up despite delay in tax plan. is this rally because we are going to get a 20% corporate tax rate quickly? >> no, i don't think it's because, the hope is baked in there. that's part of what the rally is about. right now it's about earnings, earnings. washington is taking a backseat. if we don't see a tax cut this year, hopefully we will see it

next year. the markets want to see that and they expect. right now, it's all about earnings and they have been fabulous. stuart: liz, the market is expecting a tacurú-pacuage and expecting it to pass and they hope, believe that it's a 20% corporate tax rate. >> and not a fazed in 20% tax rate. markets tanked immediately when that came across the wires, this has to do with the turnaround in the expectation and earnings. stuart: we did make a gain for over 100 points. for those listening in the radio, we did go up 100 points, now 93. now, market did not seem to react at all to the terror attack in new york city. could i summarize like this, liz, the market doesn't react to a terror incident unless it's severely affect it is economy? i know that's a nasty thing to

say. >> we've had so many of this, the ninth of this sort of attack, lone wolf driving a truck and the fact that it's here in new york is different and dreadful. the markets are immune to this sort of events and it's tragic and doesn't have much impact on the economy. stuart: i think you're right there. facebook now at 182 and going up from there. that's up about -- that's all-time high. how high are we going here? give us a forecast. >> i'm expecting facebook to have about 40% year on year add increase in revenue. so i think they will hit it out of the park. the stock will continue to go higher. we are looking at stocks like facebook, all the big tech names who are doing very well for all the right reasons, all the growth is there, brand names in and of itself and they have the world at their fingerprints.

ashley: we've had -- kind of in code red territory with the whole russian manipulation through facebook, buying ads to try and attar the outcome of the election last year, that doesn't seem to have hurt -- at what point does that start the stock? >> it's based in the stock already. if it was going to have impact, there would have been so far. stuart: they are going to hire another 10,000 people on top of 10,000 they've got. they will hire another 10,000. if congress comes up with some way of serious regulation -- >> that would be horrible. stuart: you have a problem. >> i think they lost political afterglow. no love affair with the companies. they lost a little bit of attitude about american economy. [laughter] >> investors have having a love affair.

>> yeah, that's what's going to matter at the end. stuart: record highs for nasdaq and s&p 500, dow is up 100 points. i have to talk to you about am, astronomical so i'm told preorders for the 10, now at 169. where do you see it going? >> there's not much of a ceiling, i think it can go to 200. i don't know how long it'll take to get there. it depends on the sale. the iphone 8 sales have not been good, that partly due to the fact that people are expecting, waiting for the iphone 10. that's $200 than the 8, so i think it's -- it's going to increase bottom line. they will hit it out of the park again. stuart: for our viewers who own apple and/or facebook, you would not tell them to sell? >> absolutely not. >> 50 million units presumably,

that's huge. part of it because the 8 was a limb noodle, right? stuart: they won't, if they did -- ashley: a lot of dough. stuart: 23,474. lower gun sales, that hurt them initially, now the market is open and they've gone up 20 cents, go figure. a weak holiday forecast from electronic, that's sticking, that's nearly down 5%. u.s. steel, their profit more than doubled from a year earlier. they are getting a much better price for steel. look at it go. 11% up on u.s. steel. who would have thought? better profits also at estee lauder, apparently strong demand for make up.

stock is up 8 and a half percent. go figure. higher profits of clorox, bird's bees, i keep using that word, apparently -- [laughter] stuart: doing very well. the stock is up 3%, 130 bucks on clorox. chip-maker, stock in record territory, i've been following it, that thing has gone straight up. it's acting like a big tech stock. well over $200 right now. amazon, here we go. announcing 100 million items now qualify for free shipping. did i read that right? >> staggering number. stuart: producer is verifying in my ear, 100 million items qualified for free shipping. i've got to get to sears, i thought we were going to play the organ music. that's eddy, he gave his company, sears, another

60 million-dollar lifeline. do you think that's putting good money after bad? >> there has to be a reason why he's doing this. he's a smart investor. i don't understand personally. probably related to -- the money, the loans that he's giving the companies are being secured by real estate. there may be a play for hedge fund and himself. the stock is a dog, no doubt, the company has lost $11 billion since 2011. it's just staggering. don't forget, sears was once the amazon of retail. i don't think it's got anywhere to go but out of the park, sorry. >> $2 billion in hedge fund. it was 100 million a week ago. the numbers are really -- >> the reason he has to put 200, the vendors aren't shipping. ashley: they want to get paid. stuart: some vendors are

demanding cash up front before they deliver the goods. however, going the other way, the gambling center in asia macao casino is going way up. ashley: more people are gambling. go figure. a bigger-picture story, i think china's economy and expansion has led to more vip members going to macao, don't forget beijing was cramping down, putting a lot of pressure, no, you're not going to go there and spend all the money, apparently beijing had recent communist party meeting, there was no mention of a crack down on gaming which was seen as a way to say, okay, it's okay, you can go back now. so the vip sector of macao has been booming and as a result of that receipts for october in casinos are up 22% year over year, so i think that's kind of interesting on many levels, shares of mgm and wynn are going

up nicely because of that. stuart: anybody that gets a chance go and see the macao casinos. they are fascinating. i will leave it at all. netflix stops production on the sixth season of house of cards after allegations of sexual harassment of kevin spacey. did anybody expect anything different here? >> it surprise med that they came out previously that they were going to do it anyway. i think it's done. stuart: it's done. we have to say good-bye to liz. what a performance. >> you're welcome. [laughter] >> exactly. stuart: all right, check it out. we are up 95 points. what was that? 23,485 is the all-time high. we are at 23,472.

so you're real, real close. now this, a county in england announcing it will not allow smockers and obese to get surgery. reportedly part of nypd surveillance program that was discontinued in 2014. judge napolitano next on that. ashley: this is the interesting thing on this

stuart: yes, it is a rally, surprise, surprise when the tax deal was delayed for a day, we thought the market might go down, but, no, immediate 20% tax cut for corporations, that's what we think we are going to get. the dow is up 105. then we have wal-mart taking

direct aim at amazon ramping up online, i think, tell me what's going on, nicole with wal-mart. nicole: november and december is clearly the holiday season where wal-mart and amazon do their major sales for profit and you see the stock up about half a percent and this is triple the online selections that they are providing for the customers for holiday season, 60 million items and they are offering discounts and all kind of discounts specially if you order online and pick up in the store. if you want shipping, for over 2 million of these, if you spend over 35 bucks, you get free two-day shipping, guess what, amazon i just read this morning is now lowering it to $25 because the whole idea here is that people can find similar items on different websites and they often decide on the shipping and they make their final choice. stuart: interesting, nicole. the stock is up. all new-time high, there you go.

new high. 24,485. worthy of trumpet. we are going get it in. no surgery for smokers or the obese in one english county. now, explain it. ashley: okay, they believe that those who are obese or those who smoke become a burden to the national health service because their recovery time from surgeries is so much greater. in other words, take responsibility for your own health. so here is how it works, this is interesting. if you have a bmi, body mass index of plus 40, you have to lose 15% of that weight in nine months in order to qualify for surgeries, 30bmi, 10% in nine months and if you're a smoker, you have to go eight weeks or more without a cigarette which will be tested by a breath test in order to be eligible. they say, listen, people who are not obese, don't smoke have much better outcomes after surgery and quicker recovery. stuart: i'm sorry i'm laughing

but i've got -- >> is it gag. ashley: this is absolutely true. >> are there constitutional rights in great britain? stuart: you're right on both counts. [laughter] stuart: hold on a second. this is serious stuff and i have to deal with it. the terror attack in new york city. the alleged attackers have been under surveillance for years. you're a libertarian, what do you say? >> we are getting mixed stories about this this morning, one is that it was under surveillance by the nypd and they stopped at two years ago, another is that it is still under surveillance by the nypd, a federal judge in newark declared all surveillance outside of new york city unconstitutional, not the surveillance but the surveillance by the nypd. they have no authority of new jersey. basically said if you need this information, get your colleagues in new jersey to do the

surveillance. that's one side of the issue. but speaking to intel people this morning, the other side of the issue is this, these creeps know that the mosques are being surveilled so the uber surveillance, lower case, of the of courses is really just not an effective way of finding out what's going on in the community and who the bad guys are. every text message he sent and phone call he made in the past five or six years is in the possession of the nsa. they should have gone through it and given to it nypd. they would have typed the name in, he rented car earlier today, he's on four or five lists, we need to follow the truck. stuart: apart from that, i see your point judge as a libertarian i do see your point, but there's another point to be made here, you don't have the manpower, forgive the expression, you don't have the staff to surveil people on a

one-on-one basis, it takes 20 people to surveil one suspect. >> i agree what you're saying, one of the reasons that those who have condemned bulk surveillance where the government surveils everybody and have argued for targeting surveillance because there is the person power to download the information when the people being surveilled are targeted as opposed to when they are in the mix with everybody else. same surveillance program that captures his cell phone messages, captures yours and mine. stuart: one last one, he came here, the man right here on the side of the screen, he came here from uzbekistan on a diversity visa. he was let in deliberately in this lottery of green cards. they let him in. should we end this diversity visa program? >> well, look, he came as a child, he was 10 years ago, he was 19. stuart: he's not a child, he's 19. >> he was probably radicalized

here. he came with visa without interrogation by agent of the government -- stuart: he has a high school diploma. clean criminal record and work experience, so he's in. do we need more diversity? >> probably not. it is a very diverse country. you're talking about the immigration act of 1990 signed into law by a republican pet george h.w. bush and proposed by congressman chuck schumer but voted on by republicans in congress because it wasn't considered dangerous at the time. stuart: should you think we should end it? i do. >> popped up on so many lists. stuart: let in people that we want for specific reasons. >> i will flip that around. we should keep out of the country based upon their faults, not the place from which they

come. it's opposite sides of the same coin. stuart: it's the same coin. >> all right. pleasure, mr. varney. stuart: not bad, we are up 118 points. how about that. ashley: fabulous. stuart: one of the reasons why this market is up so much, speaker ryan suggesting that you'll get that 20% top corporate tax rate, will go effect immediately. it's not going to be fazed in, none of that. however, the other side, high-income earners could end up paying more than they pay now because this is not a tax cut for wealthy people. find out all about it after this.

retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered.

comcast business outmaneuver.

stuart: jay timons is with us this morning. jay, you have to be one happy camper this morning because you're going to get exactly what you want which is a top tax rate of 20% on corporations effective immediately. you're going to get it, surely, you are ecstatic. >> well, stuart, obviously

there's a lot of news this week, tax reform is one of them. do i want to say based on coverage on the other issues that our hearts go out to the people in new york, down here in washington, we are keeping victims and families in our hearts and prayers. there's a lot going on in washington, you're exactly right, tax reform is top on the docket for house representatives. stuart: you're in line here. everyone says including speaker ryan it's going to be 20%, top tax rate for corporations and it's effective immediately, that is exactly what you we wanted to hear isn't it? >> well, it is, there's a few other components that are fairly important and one of those is -- is small businesses that pay taxes as a -- stuart: yes. do you have any input on that, jay, because -- if you want to grow the economy, it would be a good thing if those past-throughs small businesses had a much lower rate. do you know what that lower rate

might be or what they are hinting at? >> we are working -- we are still working with members of the house leadership on that and, you know, two-thirds of manufacturers are pastor entities and i have 14,000 members, 90% of them are small businesses, this is very important. stuart: what rate do you want it to come down to? >> ideally it would be right in line with the corporate rate. now, whether we are going to get that or not, i don't know. it needs to be awfully close to that. you cannot, to your point, you cannot leave the small businesses behind. they are the life blood of the economy. stuart: that to you is a big deal and you're happy at 20% for the big corporations. >> well, you know, we were advocating for 15%. we liked the president's initial plan and we hoped that it can get as close to that as possible. 20% is a win, for sure. stuart: jay, good luck with everything. we appreciate you being with us today. precisely. president trump, he promised it, now looks like we are going to get it. that will be a tax plan that delivers for the middle class

and a plan that delivers economic growth. what about the upper-income earners, they are not going to be too happy, we have it for you after this are you on medicare? do you have the coverage you need? open enrollment ends december 7th. don't put it off 'til later. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call today to learn about the kinds of coverage we offer,

including aarp medicarecomplete plans insured through unitedhealthcare. these medicare advantage plans can combine parts a and b, your hospital and doctor coverage... with part d prescription drug coverage, and extra benefits... all in one complete plan... for a low monthly premium, or in some areas no plan premium at all. unitedhealthcare doesn't stop there. you'll have $0 co-pays for preventive services... like an annual physical and most immunizations. you can also get routine vision and hearing coverage... and a fitness membership. for prescriptions, you'll pay the plan's lowest price, whether it's your co-pay or the pharmacy price. or pay as low as zero dollars for a 90-day supply of your tier 1 and tier 2 drugs, delivered right to your door. in fact, our medicare advantage plan members... saved an average of over $5,000 last year.

so call or go online today to enroll, and enjoy these benefits and more, like renew by unitedhealthcare, our health and wellness experience, where you can earn rewards for making healthy choices. your healthcare needs are unique. that's why, with 40 years of medicare experience, we'll be there for you we can even help schedule your appointments. open enrollment ends december 7th. if you're medicare eligible, call now and talk to unitedhealthcare about our plans, like aarp medicarecomplete. let's get you on the right path. call unitedhealthcare or go online to enroll. sfx: mnemonic

stuart: the president promised a middle-class tax cut and looks like that's what we are going to get. the president promised a tax plan that would deliver economic growth and it looks like that's what we are going to get. here is how this works, the standard deduction goes from 12 to 24,000 bucks. that means you could earn up to $24,000 with no federal income tax at all. that's the heart of the middle-class tax cut. the top rate for companies drops from 35 to 20% immediately, no fazing in. that's the heart of the growth plan. business pays less, the economy grows more. okay, we don't know the details until tomorrow but that's the broad outline of the plan for the middle class and for

business and growth. for upper-income earners, oh, it is a very different story. the 1% will not be happy, they get no cut, their rate remains the same, 39.6%. it's actually worst than that for people who live in states with high local taxes, new york, california in particular, they may lose deductions for those taxes and may end up paying more. you could say that the democrats have been hoist on their own patad, tall rich liberals would get what they wanted, higher taxes on the rich but they are not going to be happy, are they? nor will state governments in new york, new jersey, california, connecticut, massachusetts and illinois. they all have been soaking residents for years at the expense of the federal treasury but the jig sup, expect a lot of wealthy people moving out of those high-taxed states expect an influx of tax refugees to texas and florida where there's

no state income tax. bottom line, the republican party will bend to the president's wishes, they'll pass a maidle-class tax cut, they will pass an immediate tax cut for business, they will pass this growth plan. they have to. if middle america wins and the economy grows, who cares what happens to the 1%? it's going to be a trump win. second hour of varney & company about to begin. ♪ ♪ stuart: we have a read on the state of the manufacturing sector, ashley. ashley: we are down just a little bit. not a huge drop. certainly down a couple of points from september, month of october, missing estimates. i know you love the measurement, but down a little bit. i'm looking at construction spending which is actually better than expected. they offset each other.

government spending on construction went up, but that is a sector has been moving sideways a little bit because the effort to reform and get president trump's agenda has been moving sideways a little bit which is reflective in people holding back on construction projects. stuart: i think you're right. i don't think there's any impact immediately on the market. look at this, 215 points. that's all good stuff. shy of 23,500. new highs for the s&p and for the nasdaq. new highs for apple and for facebook as well. look at ge for a moment. that stock is unpaced for eighth straight session of decline although it just turned around a little bit. i don't know why it turned around because jpmorgan has just lowered its target for the stock price of ge all the way down to $17. nonetheless, bouncing back 20.35 as we speak. goldman sachs contributing most of the dow's gains, it is a dow stock. it's adding 22 points to the dow

industrials with a gain of 3.48. now, this let's get an update from lower manhattan tracee carrasco is with us. tracee, the latest, the suspect's mosque back in 2014, it was being looked at by police, correct? tracee: yes, that's right, that's a new development that we are following. 29-year-old, his mosque in patterson, new jersey, 20 miles away from crime scene in lower manhattan, it was under surveillance by the nypd since 2005, that mosque was among several others in the new york metro area that were being studied by the nypd as possible locations for, quote, butting terrorist conspiracies, that's according to north new jersey.com, now, there was no criminal link to this mosque, but the nypd said that there could have been possible federal investigations linked there, that's something they are still looking at and now we are awaiting an nypd press

conference at 11:00 a.m. where we should learn more information, stuart. stuart: tracee, thank you very much, indeed. i'm going to stay on the terror issue on diversity visa lottery program. joining us now former consultant in the department of homeland security under president bush. mustafa, i want to make sure i have the facts right here. the diversity visa program admits 50,000 people a year to the united states who come from countries which supply generally fewer people to america. is that accurate? >> yeah, basically it's a lottery program and it's part of the family unification act meaning that it allows family members, blood relatives to apply for a visa and enter into a lottery and we select countries that we don't have people from and try to bring them into the united states. stuart: did most of the people who came to america, are they mostly muslim?

>> no, i mean, it's -- so you pick countries where you're from. 57 countries in the world that are muslim and 1.6 billion population, so if we do get them only it comes in different waves across different years. stuart: what about the vetting for the people who come under the program? i'm told that all they need is a high school diploma or the i qif lent, -- equivalent and a work record for two years, that's it. that doesn't seem like much vetting to me. >> well, the vetting basically is part what we do for green card vetting, it's across the board. it's a two-year process. a number of checks. i think what the president -- the debate has been, do we do family reunificcation or do we do merit-base visas into the united states? and that's a very important debate to have in our country to figure out where we are headed. from a vetting standpoint,

regardless, it's the same process. stuart: not everybody who comes in under this program is joining relatives already here. it's not -- it's not what's going on now. this is not for family reunification. if america needs more diversity, that's what this program is for. >> it's based on the family. the only way you could get into the lottery is if you have some kind of a family member in the united states. stuart: okay, would you like to end the program -- would you want to end this program? >> i think -- yeah, look, i think that the gang of 8 when they were doing the immigration reform, this program was up for the chopping block. we just haven't been able -- stuart: do you want to chop it n your opinion, should we chop it? >> well, here is my thing. i think that it's perfectly good

debate to have, whether we should have it or not but from counterterrorism the real threat is radicalizing, the people that are already here. it's not that they came in radicalized but became self-radicalized in the internet while they were here and so from my perspective, counterterrorism standpoint, the focus should be in how do we prevent people from taking on isis message and becoming radicalized and that is a critical component and focusing on that will be really important to the coming decades. stuart: thank you very much for joining us, sir, thank you. at the top of the hour, i said that the president had promised a tax plan that would deliver economic growth and i also said that is what we are going to get and middle-class tax cut that grows the economy. i want to bring in former governor mike huckabee, i wonder if he agrees with me.

i'm saying forget about the top 1%, they are not going to get much out of this at all, this is a middle-class tax cut and it will grow the economy. what says governor huckabee? >> i say that stuart varney is once again right. [laughter] >> i specially loved it that you talked about the liberals being hoist with their own patard. i'm not sure liberals know what that means but to have you quoting shakespeare early there morning is indeed a delight. the republicans have to get it done and, you know, i know that there's going to be all anxieties about, well, some people in california, new york, they might end up even paying more tax but they are not paying more tax because of what the federal government is doing, they'll be paying more tax because of their state government who are on a spending addiction and can't get over it. the big question that i have is, why won't the republicans do

this tax plan alacart. instead of putting it in one big bundle and making it easy to say, i vote for it except for this one thing, put the pieces out there, put the 12 to 24,000-dollar exemption on the table all alone. take the corporate tax rate put it on on its own, for or against it. that why the guys can't hide behind other pieces like hiding behind momma's apron. stuart: middle-class tax cut that grow it is economy, i think it passes, i don't know when it passes, thanksgiving or christmas or next year, i don't know. i do believe that that will be forced on the republican party and they'll say, yes, what say you? >> i think -- i hope it's right. there couldn't be a better thanksgiving treat for the people of america than this plan

happening because it means more jobs, more money in the pockets of working people, more capital coming back to the u.s. and it's the kind of thing on thanksgiving that would cause all americans to take a knee and say, thank you. stuart: take a knee that. was very good. governor huckabee, thank you for the praise and my use of expression of hoist on my own patard. i don't know if it's shakespeare but i like it. i will say this, conservatives in texas and the other states that carry mr. trump, they don't care about coastal elites, new york, new jersey, connecticut, they are not going to vote republican anyway. we are all over it, back in a second

stuart: wow, this is pretty close to all-time high, 23,505, we are up 128 points as we

speak. that's a record high. lots of green for the dow 30. in fact, the majority of stocks are up which are in the dow 30. we have record highs for the nasdaq and for the s&p. bottom line here is we have a rally again and records are being met all across the board. let's get back to taxes. the gop delaying the roll-out of the tax plan until tomorrow. louie gohmert is with us and he's a congressman -- republican and from texas. i know why you're smiling, i smoa why you're smiling, you want to sock it to rich liberals in new york and california who are going get what they want which is rich people pay even more in taxes. you're happy about this, aren't you? >> that's what i'm concerned about. that's why i understand there was a delay is that the folks like new york, california that are paying more state and local taxes, that there's being some accommodation to them so that

states like texas, most of the country will end up subsidizing the federal tax of those who have higher state and local taxes. that doesn't seem exactly fair, so i'm not smiling about that. i'm concerned we are going to get socked again as we have for years to allow states that are in the control of democrats to get to deduct more from federal tax. stuart: i don't know how that's going to work. what you're talking about is the ability of high-income earners in high-taxed states to deduct those high-local taxes against their federal income tax return. >> right. stuart: at the moment, is plan is that you -- that deduction goes away which means that high-income earners, new york, california, et cetera, et cetera, they are going to get socked, they are not going to get a tax cut, they will get a tax increase. >> well, it depends. high-income earners to go

straight to texas and florida. >> how long do we subsidize to democrat-controlled states? that's the big question. how long are we going to pay part of federal income tax? stuart: that deduction is going to go away from everything i've heard. >> that remains to be seen. stuart: you want it to go away, don't you? >> much more fairer actually. stuart: happy to see the rich liberals of the world paying much more taxes, wouldn't you? [laughter] stuart: i know you you would -- >> i would love to have a fair tax, flat tax rather across the board, everybody pay it is same percentage. i would love to have it top to bottom. everybody has skin in the game, if you make more, you may more but i would love that to be flat tax. i don't think it's fair that you graduate the tax as you make more money. why punish them more? stuart: we will not get a flat tax that's for sure.

>> not this time. stuart: tax cut that focuses on the middle class, we are getting tax cut on corporation that is focuses on future and i think you like it and you will vote for it. >> i love it. i was hoping that we would get what the president was asking for, 15% tax for corporations because that undercuts china and it brings back most of our manufacturing when we do that, we have got to do that, bring those jobs back, so i was for what the president wanted by leadership here in congress are apparently getting more of what they wanted but i also like to see sub chapter s and c corp.s get the same tax and i think that's going to be different. i think that's ashame. stuart: i have not heard the details on that one, but i believe that small businesses, pass-throughs are going to get a break here. >> they are going to get a break. what we heard 25% and the full c corporations will get a 20% although as i kept encouraging

the president, don't let ryan and mcconnell talk you up from 15%, but, you know, if it's 20%, then we will live with it because we've got to get a break. stuart: exactly. you have to do it. you just have to do it. >> you know, that this is one of the moist insidiuos. corporations don't pay that tax, they have to pass it through to the american people and show when you cut the corporate tax, you're actually costing, you're cutting the cost of products and as steve moore liked my comparison that actually the corporate tax is the biggest tariff any country in the world puts on its own goods and services because that's what it is. a tariff on our own goods. stuart: well, they are going to get a break and you will vote

for it. >> by the way -- stuart: yes, go ahead. >> diversity visa lottery bill, we have voted that out twice, '05 and 2012. i'm told that tip o'neil wanted that in because he didn't think there was enough irish compared to hispanics. it was the democrats who thought too many hispanics and bringing the irish, that's why it went in place, i'm told. [laughter] stuart: that was good. i'm glad to see you back on the show in good standing. yes, sir, thank you very much, indeed. former house speaker john boehner had a few words for chaffetz, boehner called him a phoney. chaffetz responds at 10:45 this morning. president trump holds a cabinet meeting in the white house, you can betterror and taxes top the list of subjects when the news break, we will deliver the headlines to you who knew that phones would start doing everything?

entertaining us, getting us back on track, and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit or go to xfinitymobile.com.

stuart: we like to focus on stocks that are really moving and chip-maker is making a great deal of money, earlier in all-time high of 209.97. if you look at the chart, it's gone straight up. it's moving into chips for artificial intelligence, big deal, stock is going straight up. amazon has announced that they've got 100 million items which now qualify for free shipping, 100 million items, the stock is down 90 cents, $1,004 per share. i have a tweet for you, it's from congressman kevin brady, the man with the tax plan, he says he's at his desk wearing astros tie putting the final touches on bold tax reform in 30 years, that's a smile, he's smiling, doesn't seem worried

about the delay in revealing the details, blake berman is with us with more on this. all-star blake berman. [laughter] stuart: is the president, the white house worried about the delay in the tax plan? >> i think kevin brady needs to be worried about game 7 tonight, stuart, he's on the road. that's a spot you never want to be in. here is the latest that i could tell you at the white house speaking with official walking with a camera a while ago, it's part of argument, what's 24 hours, artificial deadline that the house set on their end, so if they need another 24 hours, give it to them. speaking to official last night, the point that was made to me was this, stuart, as long as they get the bill out there this week that should not affect the market-up on monday and that's what matters. give the members more time to socialize, kind of nail things down, as long as it gets done and the market is out there on monday, that's the end all be all. here is the reality, stuart, it's not like they are trying to

nail down lunch plans, if you can't make it on wednesday, let's do thursday. this is tax reform. a major lift and you are seeing the complications they are dealing with, stuart. stuart: thank you very much, blake. thank you, sir. speaker paul ryan implies that the corporate tax rate will drop to 20% immediately no fazing it in, that's music to the ears of business clearly. it's also fueling this rally, will you look at this. 23,505, we are up 127 points. there are records being set for s&p, the nasdaq, the dow, facebook, apple, you name it, record highs today, folks.

♪ >> rally still in place we're a

3,496 up 119, 120 points. we're about to get the latest numbers on how much oil we have used in america and how much we still got in storage. this is an important number which might affect the price $54 a barrel. >> down .44 million barrels which had is a bigger draw down than was expected now oil prices have been up five days in a row. and as i think believe right now very close to a high forked year so this i think is a reflection we talked about this before stewart the global economy is starting to pick up. certainly in china, europe as well. all of that is is leading to greater of the month oil today you have it. >> by the way we're drawn down four million of gasoline. now that's, that could be an economic indicator if you -- use a lot more oil using a lot of gasoline show a strong economy? >> i would say so. i think think is does that's why

the price is holding right close to $55 per barrel that's the oil market. no impact on the stock market which still shows triple digit gain for the dow record high just shy now of $23,500 just coming back a little bit. how about the beg tech name we love to show you these they've been making running for a couple of years facebook is up. amazon is. microsoft up google up. apple down a little bit. they report their earnings tomorrow afternoon that down a buck 80 but at 167 back to the issue of taxes. with us now he's a republican from nrchl sir congressman welcome to the show. [laughter] >> good morning stuart, thank you. >> may i point out that you may have a problem with this tax bill here because you come from a high tax state. the plan suggest that you can no longer deduct those high taxes from your federally tax return which means that high income

earners in new jersey may end up paying a whole lot more in taxes and not getting any kind of cut. will you still vote for this tax cut if it -- if it does away with that deduction? >> well you just defined what my last two months have looked like and i've been fighting for this very issue. i want to see tax cuts for or the vast majority of american individuals and families and certainly i want to see tax cuts for our businesses as well. it has to be fair, though, and i i've been working with our leadership to make sure that we don't just full sale eliminate deductibility of state and local taxes. property taxes. but i think -- get your way it doesn't look like you're going to get your way so if that deduction impose away with or even part it have goes away, will you still vote yes? >> you know, plucks is the art of the possible, and i believe that we will, in fact, retain

deductibility of property taxes. that's exactly what i've been working on for months and to me that's the biggest issue because one our property taxes are so high in new jersey, and you remember at the meeting -- i know you're laughing but i know you're at the meeting last night with kevin brady and it was all about these state and local taxes tell it us -- did they agree to back off so you keep the deduction? what did they say to you? >> i don't to unveil reform package before the chairman of ways of means does tomorrow. but i'm here to say i believe that we have successfully retained deductibility of property taxes. and that's, that's so important. >> okay that's property taxes. the big deal is income taxes -- >> not in my state here's the issue stuart for most americans, deductibility of certainly my

state deductibility of property taxes is bigger issue. income tax goes up and down with your income so people of lower and moderate income they're not going to itemize anyway. and people at higher income levels what's unless my concern i want to make sure middle-class get that. and property tax has no relationship to your income so i have in my district 140,000 seniors, these are people on a fixed income but they've been in many cases in their homes for 25 to 30 years and those homes escalated in value and their property taxes are by far the bigger issue for them and that's what i've been fighting for deductible. >> so i can conclude the follow, you have a meeting with kevin brady last night it was about state and local taxes. you've got agreement to pex collude property taxes you get the deduction from that but you can't do anything about the deduction for income taxes that's going to clobber the

ridge can i leave it like that? >> like i said earlier everything is a compromise. rates are -- rates will come down dramatically that's what i'm going to look for i'm going to look to make sure that final tax package brings down taxes for the vast majority of americans. and yeah i'm -- >> not the one percent -- the one percent will pay more. >> i won't get everything i want and you're probably right there will be some compromises but if we can get real tax relief to the majority of the american people the middle-class the aspiring lases the upper middle-class that will drive economic growth if we can let our businesses invest her instead of having government bower karats invest it. that will grow our economy, and so i -- i didn't answer your question directly about how i'll vote because i have to wait to see what the final bill looks like. but after 30 years in business and how to compromise, and if i can get 80% of what i want -- then i will compromise and make

sure that we do the best deal we can for the american people. >> thomas republican from new jersey, the great state thereof where i happen to live mr. congressman. so -- [laughter] >> your property taxes will go -- you know they'll be deductible and you'll be glad for it. >> yes, sir. [laughter] stuart: we won't talk about income. tom thanks so much for joining us, about sir you're a good man and appreciate you being here. next case, math shay national retail federation, here he is. you won another one. didn't you? first of all you got rids are of thisrd boor tax, that's what you're of your group was pushing for you got rid of it. you won. now, you've been pushing for a lower corporate tax rate. 20% immediately -- looks like you're going to get that too. what's your secret, matt, how do you do this? >> stuart let me start in saying all of us here in washington our hearts go out to the people in knock families, victims of the families, that tragedy and a the a time like this porpght to

think about the things that -- congressman mcarthur said to bring us together and focus on the art of the possible, and this is something that we believe would be very good for the country for our economy, consumers, for middle-class i was in a meeting at white house with the president yesterday with with about a dozen other industry groups ceos we talked about this at length. we talked about the disruption in retail. we talk about how we help small businesses and job creators moving forward with the art of the possible and let's get tax reform done and keep our eye on the objective here, that's to provide real tax relief and we think this plan will do that. >> retailers probably stand to gain more from a 20% corporate tax rate than almost any other group. because it is retailers who have been paying that 30, 33, 35% rate you're going to get a big cut it really benefits you guys big time doesn't it? >> stuart this is very, very good for the industry we think for 42 million people work one and four americans 95% of businesses of the 2.5 million

small businesses out there in retail we're going to get some tax relief to reinvest in new wage and growth, and we've been saying 35% rate we don't benefit from existing loophole or credits in the code. so lowering this rate not only will be good for the industry and good for consumers and employees but make us more had competitive abroad this is what it is about. an global economy we have the tax code simplified straightforward you know, maybe doesn't sit on a postcard but should look the way it does today. >> bring up sears just gave the company another 60 million dollar lifeline, sears is in really big trouble and the stock is down again 5 bucks a share. any comment? >> well stuart we've talked about before when i was in new york a couple of weeks ago with you in the studio we talked about sears and couple of other companies i think -- you know listen that's a company with the unique management structure and unique ownership going through challenging times it has a fabulous brand we have

to keep it in perspective. that company is -- 22, 25 billion in retail sales and retail industry is 3.5 trillion a fraction of a fraction of a percent, so there is transforms change i talked to the president about this yesterday he asked the question very directly what's happening in retail? and some of the same conversations we've had here an opportunity to say, is there transformation, yes. is retail growing, yes. are we still the largest private sector employer, yes are we here tomorrow? yes. are we going to look differently yes and we will. tha happened in business and happens in every industry that's where we're headed but tax reform will helps get there more successfully. >> bottom of the the screen it says retail ice age guy on the screen represents retail ain't no ice age when had it you get that. you're a happy guy i know. matt shia thank you for joining us as always. let's get to virginia democrats are running an ad that depicts supporters of the republican

gubernatorial candidate as a white supremacist. who is running down minorities in a pickup truck you can see it right there withdrawn the ads but else are they saying? >> let me read you in quote they did poll this ad in the wake of the terror attack here in new york city. but they went on to say this -- we knew our ad was ruffle feathers we held a mirror up to the republican party and they don't like what they see. we have decided to put our ad at this time so in other words the polling it -- because of this terror attack but, i mean, gusting to start request. a desperate smear campaign what the camp said about this. but that is about as low as low can be. >> yeah. basically sporters depicted confederate driving truck chasing down children of color. run them down -- >> that really is despicable. that is absolutely despicable. seen it all and now they say withdrawn it simply buzz a truck drove down a bike path yesterday

that's why they have this ad. disgraceful that's my opinion. john boehner uses an f-bomb the f word -- when describing his former colleague. jason, he'll be here about 10:45 to respond forcefully. another look at the white house. president trump cabinet meeting happening pretty soon actually about an hour. they will be headlines from that meet and you will hear them first right here. we expect them in the 11:00 hour. you'll get them when we get them. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool

from td ameritrade. the mountain like i used to. i even accept i have a higher risk of stroke due to afib, a type of irregular heartbeat not caused by a heart valve problem. but whatever trail i take, i go for my best. so if there's something better than warfarin, i'll go for that too. eliquis. eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. eliquis had both. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily... ...and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. i'm still going for my best. and for eliquis ask your doctor about eliquis.

♪ >> republicans delaying the role out of their latest tax plan, but in the last hour we're senator joanny will end upsz paying more. roll tape. >> we do want to see those great tax cuts. we have to focus like i said on those middle and lower income wage earners. i know in iowa those wages have been stagnant so if we can focus more on that corporate tax rate making sure that question get that to 20% as the president has proposed get that -- out there right away, not phased in we will see great impact to the economy and hopefully we can help those that are caught more in the middle had. i would love to see tax cuts for everyone. but we do have to see what the impacts will be for all of those other families it.

if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have. you see, medicare doesn't cover everything - only about 80% of your part b medical expenses. the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about tomorrow...is today. go long.

>> lower gun sales hurt, but the stock has turned around it was down now up a buck 50, 51 gun maker. weak holiday forecast from electronic art star wars balings front mountain video games among other titles. down 5% taking a big hit there 113 on electronic art u.s. steel

their profit more than doubled from a year ago. they'll get a better price for the seal that they make. the stock is up, 10%. higher profit and sales at estee lauder or we're told strong demand for makeup that stock is up. 10% -- higher profits at clorox borts bees forgotten all about it but they're still there. burt's bees and it is up 2 at 128 i have to get back to tax reform that is the story of the week. actually -- the unveiling of the gop tax front has been delayed until tomorrow. uh-oh. should we be worried? joining us now jason former utah congressman now tox news contributor i hope you enjoy your life inning television opposed to your life in congress. >> i don't miss fundraising. so yes. >> what about the delay? doesn't sound like good news to me. >> it doesn't sound god that we're now november per and they

don't have it ready but they have to get it right. they've moving this under reconciliation with different rules you cannot amend that on the floor of the house. so whatever comes out of ways and means they have to get that right because they will not be able to amend it on the floor of the house of representative. >> now they're supposed to mark it up not sure what that means to mark it up on monday. have they got time if it is not released until tomorrow? >> if they introduce the bill by friday they will technically meet the the need or meet the the goal and then they'll go into a markup which could go 24 plus hours -- people then in ways and means can offer amendments to chairman brady will keep everyone in line and not get sideways but whatever pass on final passage that's what they have to vote on on the floor of the house. >> i've looked at the the broad outline of this thing looks to me like it is a middle-class tax cut it is a growth tax cut because you're dropping that rate for corporations but 1%

going to get messed pup big time. >> look it is a good thing e overall but not the reform that i think i was promised and everybody thought was boing to happen. it's more of a tax cut. tax cuts are good i think it will stimulate the economy. but it's not the total reform package that i was hoping for. a little disappointed. >> i think so if paul ryan really sold us on the idea that this is a once in generation a generation opportunity where we have unified government in this promise of unified government was supposed to deliver on health care, and tax reform, and kechi brady time after time held up this little postcard saying hey, 0% of americans have file tax return on a postcard and we'll with see if that turns the to be the truth. you know what's coming. >> probably. so here we go john boehner had choice words for you and for congressman from ohio jim jordan in an interview with politico

boehner said i'm quoting now f jordan f they're both -- not going to say that, he is a total phony and it is always about him. >> so speaker saw me for six years are he supported me to become the chairman of the committee i was after three terms one of the youngest in history was united states. but you know when you become a chairman ting they have an expectation i was going to hand over my voting card and i was going to do everything he said. and that's not who i am and that's not how i acted. and i think he got a little frustrated but he called and said same thing about shawn handy and rush limbaugh if i'm hanging out with jim jordan and those guys i think i'm in pretty good company. i harbor no ill will disappointed on a personal level. >> happy to be out of politics. >> not missing it. no. ening you don't miss all of the fundraising. >> i love to work and there's really good people like john radcliffe and trey, and tim scott, and you know marco rubio

people that i interact with that i really do miss and i love being in the fight. but the swamp nature of the muck you've got to -- wade through on a daily basis i got sour on it and my family was out of balance i said you're part of the solution or part of the problem and when you get turned sour i said i was going to serve and then get out and that's what i did. >> you're happy now. you walk into the studio. >> this is a fun show. no you really do -- it is fun. you learn a lot watching this show. >> which case sir you'll be back. [laughter] >> fan of politics. >> a politician -- thanks appreciate it, sir, thank you. lower manhattan terror suspect -- the mosque he attended in patterson new jersey at one time under surveillance by police officers. we're awaiting the latest details on the suspect north dakota news conference coming up next hour.

now, we still got a whopping great big rally going on on wall street we're up 113 points, why? because we're told that we are going to get a 20% top tax rate for corporations and it is going to be effective immediately no phasing in. music to the ears and up goes the market. we'll be back. financial crisis, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor.

>> now to the very latest on the new york terror attack the north dakota will be holding news conference momentses from now, david lee miller joins us david what are we expecting to hear this morning? >> well we expected to learn a great deal more about the suspect. as for where rampage took place you can see right now at this hour that this area still completely shutdown. and still sitting in the middle of the street 19 hours after the rampage got undersips that rental truck that was used for a weapon of mass destruction authorities say that they are now trying to speak with the suspect and identified as 29-year-old sayfullo from sofer republic of uzbekistan lived in pather on, new jersey in new york city suburb and we're told that just a short time ago that fbi agents were at that location

they were seen leaving that home with some of the contents inside. as you mention ashley we expect in the next few minutes -- at the top of the hour to hear a news conference from the new york city police commissioner the mayor as well as the governor. back to you. >> very good david lee miller thank you very much for the latest from downtown manhattan, by the way, of course we have a jam-packed hour ahead for you taking you to the nypd news kfns plus, the president is holding a cabinet meeting today and more headlines from that as well. varney continues right after this.

.. they're affordable and fast... maybe "too affordable and fast." what if... "people" aren't buying these books online, but "they" are buying them to protect their secrets?!?! hi bill. if that is your real name. it's william actually. hmph! affordable, fast fedex ground.

stuart: less than 24 hours since terrorist dropped new york city. here is my take away. number one, we can't stop this kind of attack, can't protect every crowd, much less every side rocker that's the grim

reality. we will take every precaution but some terrorists will get through. and the suspects on the security radar. that is realism. less than a mile away the halloween that police god bless them refuse to counsel the festivities. no defeat, no retreat, this is new york city. number three, the terror in this country under the diversity program. the program lets and 50,000 people a year with few immigrants to america. all they need is a high school diploma, two years work experience in no criminal record. they came from predominantly islamic whose pakistan. the terrorists came into our country for what is called the

diversity visa lottery program. a chuck schumer duty. i want merit-based. the third hour of fernand company is about to begin. -- "varney & company" is about to begin. ♪ moments from now, the new year police department is going to hold a news conference. we are getting ready for right now. this is about yesterdays terror attack in southern manhattan. looks like they are preparing. i'm going to listen in to the early going here. >> lieutenant colonel. [inaudible] [inaudible conversations] >> ladies and gentlemen.

very tight rim here, so we are going to -- [inaudible] i know you have a lot of questions. please work with us. >> good morning, everyone. during our terror attack, we'll give you an update on some of the things we learned overnight. another date from fdny commissioner dan ackerman then we'll hear from mayor deblasio and governor cuomo. thank you for being here advanced, june kim communis attorney for the southern district of new york, commissioner roger prima from homeland security and joe esposito from oem, commissioner oem is your also appeared also like to thank the state police for being here today and everything they did yesterday. chief of department carlos gomez is going to lay out some of the security plans we have in place

in light of yesterday's event in ahead of sunday's new york city marathon. we will also give you an update on the traffic situation on the westside. bill sweeney, executive director in charge of the new year is fbi will make a statement and john miller, deputy commissioner of intel and counterterrorism will share with you some of the details about the work we are doing on this case beard you have to understand this investigation is real in its infancy. we do not yet i not yet i love all the answers and there are details today in there will be more down the road and not everything i will be able to share with you. you understand that in terms of casualties, this is the worst terror attack in new york city since september 11, 2011. when i take a minute to commend all new yorkers come everyone who lives in, works and visit our great city. no one in the city is complacent. we saw the strength of that resolve last night with a very large crowd that attended the annual halloween parade in the village and we'll see it again

on sunday when 50,000 people competed in a marathon from another 2.5 million people cheer them along the route. the n.y.p.d., fbi and all of our law enforcement remember our past. we work very hard together each and every day to prevent the type of thing that occurred here yesterday. would have been yesterday was not okay and will never be found in any of us will just accept as inevitable. since 9/11, we along with our partners at the local date and federal level have disrupted or prevented two dozen plots against new york city. countless lives have been saved, but none of that matters and eight innocent lives are taken by a criminal committed a cowardly act driving a rental truck. we are working hard to get to the bottom of exactly what happened yesterday in why and we are working tirelessly to prevent anything like this from getting repeated. i tell you as often as i can a true public safety is a shared

responsibility. law enforcement, government agencies doing what we can and the men and women who work with us to it better than anyone anywhere in the world that we need everyone's help. more than a .5 million people in new york city as well as people who commute every day in all the tourists. that's a minimum of 17 million extra eyes and ears and gut feeling that remain vigilant on behalf of all of us. i talk about this all the time. if you see something out there that doesn't look right, if it makes you uncomfortable, you have an obligation to make a color slide down a a police car. at least give us the opportunity to investigate that. i want to thank everyone for their ongoing help today and everyday. thank you for the swift response yesterday by the n.y.p.d. officers from the new york state police, firefighters and ems workers who did a great job under circumstances. let me introduce fdny commissioner dan niekro to give you an update.

dan. >> thank you. i'm going to be very nonspecific regarding the privacy of the dems. there were 20 the dems that yesterday's attack. six of them were pronounced dead at the scene. we transported 14 victims to three hospitals, two of those big dems were pronounced. so the total number of deaths were eight. six of those were citizens of other countries. five from argentina, one from germany, to her american spirit of the 12 remaining, think only three have been released from the hospital, nine remaining in the half title. four of those were injured but in stable condition. the others are seriously injured. the injuries range from a bilateral amputation into serious head, neck, back and chest, and trauma to arms and legs. this was a heinous attack that resulted in eight deaths and serious injuries. our prayers are with the

families of those who died in those who remain in the hospital. the >> thank you, commissioner niekro and thank you to all men women of the fdny, all the first responders, all the emts who went to the aid of those who were afflicted and did it so well. i want to start by thanking all of my colleagues here. thank you, governor cuomo and all of our state partners who are here, all of our federal partners commit thank you jerry nadler, and ergo inherent common cause. this was an attack on the united states of america in attack on new york city, an attack on our people and it was the definition of terrorism, an effort to take away people's hope and spirit and to make them change and white new yorker show already is we will not change. we will not be thrown off by any

name in this cowardly act targeting the most innocent people in the middle of the most innocent pursuits was meant to make people feel they could not go about their daily lives than what we saw last night, governor cuomo when i went to her annual halloween parade. a million new yorkers showed up for that event. as we spoke with them, they were undeterred. they were strong and very proud of new york city and all the people in this country see that strength in the face of adversity. this morning people went to work on my kids went to school. no one thought there was any choice but to stand up to this act of terror. so, as we now move forward, we start with giving our prayers to the families of the eight who were killed. they, as you heard, six of them

came from other nations here because they saw new york has a special place to be an win now and forever will consider them new yorkers. they shared this tragedy with us. we will remember them as new yorkers. they are here because this city is a beacon of people all over the world, a place that every kind of person comes to and is respected and that won't change. a .5 million people here. we understand this was an attack on our values. it was never to break our spirit. but as an effort to break our spirit, it failed. new york city is a very strong and weak lien plays. we have great faith in the men and women who protect us. we have such pride in the n.y.p.d. and we see them on duty and we now they are the very

best, so we are strong. we are resilient people because we know. we are protected and we know that this place works when people don't feel deterred. and i will tell you, and this violence was an effort to make us blink and we won't blink. we won't change. the n.y.p.d. yesterday showed us once again how much new yorkers can rely on them and i want to commend officer ryan nash. i spoke to him earlier today. a good young man, five years on the floors, who was very humble about what he did, but what he did was extraordinary and gave people such faith in such appreciation and our police force. now, this investigation as you

have heard has just begun. it is important to emphasize again this morning that we do not see any additional credible and specific threats against new york city. we will constantly keep people posted. we do ask everyone to be vigilant. commissioner o'neill laid out what everyone has to understand. be a part of the solution. share what you know with the police. don't think twice. give information to our officers. many of those previous effort to undermine us, the commissioner referenced does. almost two dozen previous efforts to attack new york city. a number of them were sad because good people came forward with information and time. we need everyone to understand they can do that, too. as we move forward, we will look forward to the marathon on sunday. it will go on as scheduled.

it will be an extraordinary event as it always is. it will be well protected as it always is and will take additional measures to ensure that. my message to all new yorkers is do what you do best. be new yorkers. be strong, be proud, be resilient. show the whole world right now that we will not be moved by terror. again, you see everyone here, every agency united in common cause and this is also part of what makes us strong. with that, i want to thank his efforts in the state's efforts and welcome governor cuomo. >> thank you very much. let me begin by asking us all to remember in our thoughts and prayers the eight lives that were lost tragically.

that that is the image that can never be undone and their families today feeling pain that is unimaginable. mayor deblasio, to the n.y.p.d., fdny, state police. i was on the scene yesterday. the performance was phenomenal and the coordination and the effort was top shelf indie kids want reassurance to know that there is this level of perfection was on an expertise protecting the people of this city and this state. it is also important to remember that while the leadership of the police department is top shelf, officer nash, five years on the job, 28 years old, he was a hero in the n.y.p.d. is not just the

leadership. it is the men and women who are out there every day who were on the first line and i think officer nash really showed how important they are and how talented and how brave. we all applaud and congratulate him. i spoke to the homeland security secretary yesterday who pledges full coordination with all the federal letter and the fbi. i think it is important that we are all working as one and in this kind of situation, there is no alternative. this is not a time to have politics. this is not a time to point fingers. this is not a time to find blame. it is a time to come together and work for a common goal. the effort yesterday killed

eight people. but in my opinion, the effort failed because the effort was not to kill eight people. the effort was to disrupt us, to terrorize us, to scare us, to create mayhem. that is the effort. that is the goal on all of these attacks. new york is a special target because we have the statue of liberty in our harbor that we are proud of, holding up the torch for freedom and democracy. using it all around the world and it is to create mayhem and terrorize and it failed. the mayor is exactly right. the halloween parade last night was a beautiful example of the failure of the attempt. a million new yorkers came out with their families, with their

children. they celebrated. they were there. just a number of hours after the incident and it was new york's way of saying we will not be deterred. we will not be terrorized. you will not leave. we said that in 1993 after the world trade center bombing the first time. we said that after 9/11 and we said that yesterday. unprompted, spontaneously. they were all there. the mayor and i marched and it was really reassuring to see the resilient of new yorkers. now you'll see an increase police presence all across the metropolitan area. we are going to double the number of bodies at places of congregation, airports, tunnels, penn station, which has 600,000 people that go through it every

day, the most heavily traveled transportation hub in the hemisphere. i don't want anyone to draw any inference from that. we don't know anything. we are not responding to anything. it is just as a precaution. same thing at the marathon. the marathon will go want because new york goes on and it's an important event for all of new yorkers. again, i want to and where i started. the effort are the first responders was phenomenal. the reaction by new yorkers as evidenced last night, this morning, people got up, they went to work. children went to school and that is what make new yorkers special. that brazilians, that ability to be undeterred in the face of ugliness in the actions of a

depraved cowards because that is what this was. this is the actions of a depraved cowards. there is no grand statement to what was done. it was the act of a coward. and that is the way it should be regarded because that is the way it was. i was proud to be the governor of the state of new york last night. i am proud every day, they see new yorkers respond made me feel especially proud. and again to the team you the team you see assembled up here, and n.y.p.d., fdny, fbi, and the seamless coordination really is something to behold and a source of strength and comfort i hope for all new yorkers. thank you. >> dance, governor. ask mr. mayor. to reiterate what the governor

and mayor said. now is not the time to live in fear. it's not the time to be fearful. it's time for new yorkers to be strong as we always are. right now, chief gomez energy department will talk about what he's doing to increase security throughout the city. >> good morning, everyone. immediately following -- stuart: ladies and gentlemen, we will leave this briefly. we are hoping to hear more details on the suspects in the actual crimes. we didn't get that. i think we got a dose of politics quite frankly, so we've got to break out of that. let's review what we have learned and what we've gotten here. i've gotten with me -- i have with me i should say judge napolitano. first of all, to your judge, and n.y.p.d. chief judge o'neill came out and called this a criminal. he called the suspect a criminal. what do you make of that?

>> i don't think i was a slip of a time. it was intentional determination after consultation with the fbi in with the prosecutors in new york city because there had been some voices in washington d.c. suggesting he should be removed from n.y.p.d. custody and put in military custody in guantánamo bay and treated as if he were a member of the foreign army and thereby stripped of his constitutional rights. there is no provision for that under the law. the n.y.p.d. is attempting to shut that down. stuart: bill deblasio, mayor of new york city referred to as terrorism, but he did not say islamic terrorism. in fact, throughout the entire presentation was not mentioned. >> is unquestionably islamic terrorism and it's also very true as part of a systematic arrangement. this person is sometimes described as not a lone wolf is very much tied into a system. the system of militant islam and could describe it in any other way is a complete falsehood.

stuart: last one, legal definition. >> there is no death penalty in new york state so he can be expressed to the death of tv stride in new york state. if he's tried in federal state in new york state under the antiterrorism law and is convicted, he can be executed outside of new york and indiana. the definition of terrorism is when they have to prove beyond a reasonable doubt to a jury and the days. two or more independent acts of violence intended to change the policies of the government. so they have to show intent. if it's intended to scare or fear or cause chaos, doesn't fit into the federal definition and the death penalty is not available. train to governor cuomo said it's not a time for politics. let's break away from this. i want to bring in blake bergen. he's at the white house or president trump is going to hold a cabinet meeting in about 10 minutes time i believe.

i take it that taxes are top of the list of topics to discuss. is that right? reporter: this has been a long scheduled cabinet meeting over the last several days so this is not in reaction to what we are seeing play out in new york city and what happened yesterday. the president is going overseas for his first trip to asia later this week, said the cabinet meeting was set to tackle or a least going into it some of the biggest agenda items, the president's overseas trip domestically tax reform and a brewing battle surrounding matt. so now, and though this will of course be part of the discussion, so too one would presume the incident that happened yesterday that terrorism attack in new york city. by the way, on the agenda today sitting down with the vice president, secretary of defense in the state department secretary for lunch, again before heading overseas a couple days from now. we hear from sara sanders at 2:30 and lots of questions for her including daschle send it back to you.

stuart: real fast, we understand the house ways and means committee in its entirety will be meeting with resonant trumpet the white house tomorrow. we don't know whether that's after the release of the tax plan or before the release of the tax plan. a significant i suspect. go. >> if that happens, what inquired yesterday about whether there would be a big rollout of the tax plan, the tax bill i was told we don't really have any details yet. how can you roll something out. we've got to wait for the hill. they are still waiting on the bill. the house ways and means committee folks come over here because they've got a bill. do they have a bill? stuart: bring this market down son. thanks very much. look at the market down. we were up 120, 130. now we're up 87. dow, s&p, not back, all of them at some point this morning did hit record highs. come on in, keep it to come and

investment strategist with money map price. why is this market up one we've got a delay in rolling out the details of the tax plan? tell us. >> there were two things that work here. they've got to play a huge game of catch-up to the second thing that is going on if ceos are plowing ahead regardless of politics in headline and that creates a situation that is not a mic is not unlike an ache in the grocery store. a thousand buyers for the same income of price goes up. relatively limited number of quality stocks and portfolio year-end and reporting time and bonus time so they are piling in. stuart: i want to talk about facebook and i know we've done this before. they report their profits this their profits factor in a nasa rocket to the big profit report, facebook has gone to 181, $182 per share. are you a big backer of facebook at a record high like this?

>> i've no problem buying a stock like facebook or record highs highs and here is why. i have a long-term dave and encourage them the same way. they are really immaterial to scheme of things. the question to ask themselves if facebook is changing the future is how cheap a $181 a share that five years from now? stuart: fair point. down $1.61 lower. it reports tomorrow afternoon. would you be a buyer of apple at $167 a share? >> i have no problem recommending apple using the exact same logic. it not a device company. everybody's going to get hung up on how many watches they go out. that is immaterial. apple is changing the world via its code here they want the apple light surrounding you. that's the endgame. this high-value game and the one i want to play. stuart: keith, thanks for joining us back to the press conference.

we won a chronology of the events and i think get it right now. >> preliminary men and some details, timelines, et cetera may change as we develop more granular information. this investigation will is carried out jointly by the n.y.p.d., fbi joint terrorism task force and the intelligence bureau the n.y.p.d. with the counterterrorism bureau and hundreds of detectives from the n.y.p.d. detective bureau responded to the scene and worked through the night developing evidence and following money. the timeline as we have it now starts at 2:06 p.m. at which point the suspect rents a large vehicle from the home depot located at the state new jersey. according to license plate readers on the george washington bridge, he exits the bridge into new york city southbound on the west side highway at 2:43 p.m. at 3:04, a port authority camera on top of an air vent outside the holland tunnel shows the

vehicle entering the bike lane and traveling at a high rate of speed southbound at west street and houston street. at this point, according to witnesses, video and investigation, he appears to target bicycle riders and pedestrians within the south bound by claim traveling at a high rate of speed. that ends when he collides with a school bus, injuring a number of additional people in the 3:08 p.m. weekend more than a dozen 9-1-1 calls reporting people down, the school bus accident in the men will be done in this area. twenty-first precinct police officers who were out on another call are alerted by civilian about the activity going on outside. they leave that location. they are joined by a third officer. the observer man who appears to be waving a gun and yelling at the scene of the accident and they observe people down on the

scene. one of those officers, brian nash, takes action and fires his service weapon, bringing the attack to a man. as the injured were being removed by fire department and ems personnel and being triaged at the scene, a perimeter was set up around that track and the n.y.p.d. bomb squad was called into clear that vehicle for any suspicious devices. the suspect is identified as sayfullo saipov, 29-year-old legal permanent resident of united dates who came into the country from the spec is banned in march of 2010. overnight, based on the investigation, there have been a number of search warrants executed and there may be more. witnesses interviewed, associates track down another activity we've been able to piece together a number of

facts. recovered in and around the vehicle were multiple minds, the two imitation pistols, one a paintball gun, the other a pellet gun. as you know there were eight dead and 12 injured. we have a lot to go through. the detective bureau in particular using hundreds that detect is has been going up and down the westside highway on both sides of the street meticulously trying to pick up every piece of video from every security camera, every traffic camera, every big camera, anything that will help us put together this timeline and have the imagery to go with it so we can reconstruct as much of this is possible. we will also be reviewing license plate reader data, not just around but from the surrounding area to help reduce drag the movement over the appreciating days as well as interviews with mrs. ea. the suspect was transported to

bellevue hospital. we are awaiting to hear an update on his condition today. obviously he is in custody and under arrest. based on the investigation overnight, it appears that mr. saipov had been planning this for a number of weeks. he did this in the name of isis and along with the other items recovered at the scene was some notes that further indicate that. he appears to have followed almost exactly to a t. the instructions that isis has put out in a social media channel before with instructions to followers on how to carry out such an attack. at this point we will open up for questions. [inaudible]

>> the mayor talked about this yesterday and it to big city. they know the bike path very well. of course, we are going to take a look at that now. i said yesterday we learned from our event not just in the city but around the world. [inaudible] >> dillard john. >> the suspect was interviewed at the hospital and we are not going to be a look to go into his statements in any specificity. >> i have a question for governor cuomo. [inaudible] >> i will let commissioner

miller talk about that. you want to answer that first? >> sure. mr. saipov has never been a subject of an investigation or the subject of an fbi investigation. we know that for our work overnight. what we are looking not is how has he touched the subjects of other investigation? what is this comment dignity to those people and we are kind of building out concentric circles to try and document.. he will have some comic to the two individuals who were the subjects of investigation though he himself was not. >> i received calls yesterday from the homeland security secretary and from the homeland security adviser in the white house, mr. bossert. both offered any and all hope to

new york city in this moment and said they would be 100% available to us in any way going forward. it will happen give or take 7:00 yesterday evening. >> i received no call for the president. i also received a call from the homeland security secretary, acting secretary duke. we spoke of coordination resources, jay t. t. f., fbi, but a sickly, any other assistive for the federal government. >> i received a phone call from the secretary also. [inaudible]

>> quote, i am not bothered at all because two senior officials called promptly and offered help and i think that was appropriate. we are here to talk about the situation, the fact and no one up here wants to politicize any of this and i don't think anyone should be politicizing any of this tragedy at this moment in time. i think every focus should be on those whose lives were lost, on their families, on the work we have to do in this investigation. >> i am not bothered that the president didn't call. i am bothered by an attempt by anyone to try to politicize the situation. that plays right into the hands of the terrorists. they are trying to disrupt. they are trying to create mayhem.

they are trying to divide. the point is to do the opposite, to unite normalcy, perceived as one. so to politicize this event i think is wholly counterproductive. [inaudible] >> are you talking suicide by cop? we haven't made that determination yet. [inaudible] >> it is too early in the investigation to tell that.

[inaudible] >> as far as the truck rental goes, those interviews are being paid and i haven't seen not, but there was certainly nothing unusual enough to cause anyone to call. [inaudible] >> that is part of the expanded canvas for witnesses. obviously looking for people to come forward. also part of the expanded video cameras which has been instrumental. we really want to be able to reconstruct the entire trip. we were basically able to take him from the train to both scenes. we expect to try and come as close to that as we can, too.

[inaudible] >> i know that you spoke to a lot of companies that rent trucks. >> so, are nexus program within the intelligence bureau and the shield program within counterterrorism does the average on a fairly wide level. the nexus program from intel has visited more than 100 of the truck rental places within new york city. we work with the department of homeland security and their programs and other agencies to cover the ones outside the city. i can't tell you to a level of specificity whether that program got to this location, but i can tell you as early as two weeks ago we were engaged with and in the new york state police in the areas around new york city.

[inaudible] >> of course as part of the investigation we will go backwards in the history of what he's done over the last couple of. i can't give you an answer to that. t. matter. >> johnny, want to talk about the notes. >> the notes were handwritten in arabic. they had symbols and words, but the note was that the islamic state would endure forever. >> there is a death penalty for murder that is willful -- [inaudible] >> obviously at this point since we haven't yet filed any criminal charges there's not

much i can say about potential charges. i can say from the moment of the attack we had federal terrorism prosecutors working with the n.y.p.d., joint terrorism task force and coordinating with the office to assist in the investigation, get a search warrant, get legal process files and to gather the evidence and assist in the investigation for the purpose of ultimately determining whether there were federal terrorism charges to be made. at this point i'm not going to speculate as to what charges might ultimately be brought in what the sentence may be. >> the fact that the note was written in arabic, how significant is that -- [inaudible] of mr. saipov. i don't know.

[inaudible] >> we are going to reconstruct that literally day by day going backwards. but at this point i'm not going to get into that in any detail. >> everything you said is a part of the investigation now and we are peeling back through obviously the process here. what were his communication, who are they with, what is the content, what is relative to this? >> we are about 20 hours in now. we are going to speak to everyone involved, relatives, acquaintances, people i work with. i don't have that right now.

james. [inaudible] >> yeah, okay. so in typical fashion of an n.y.p.d. cop, he thinks what he did is he did was not an act of terror with them. he thinks it is why you joined the police department. i was at the hospital and i don't think we could find a more humble human being. they were at the high school for an unrelated column a month old ben there was a vehicle accident, so ryan and his partner thought they were going out to handle a vehicle accident. once i got outside, they were confronted and they took proper action spirit all new yorkers should be thankful to ryan and his partner.

i talk about the courage of men and women at this police department every day. truly yesterday you saw it. he is a cop with fighters on the job. 28 years old and this is what he did for the city and for the country. i'm really proud of him. >> ryan is a hero, but he was so humble about his achievement. it was very striking. i think the commissioner is right. he thought this was all in a days work and what a cop does to protect other people. but he deserves the accolades of people of this city hides to his partners. to your question, what was the potential buyer had he not attend? as you know, after the fact we found out more. in that situation, and you don't know if the shooter has multiple weapons, has a bomb on him, you don't know. god forbid that situation was even more dangerous, how many

more lives, literally dozens of lives could have been in danger. ryan stopped the thread immediately. we owe him a great debt of gratitude. >> well, i have to talk to them again to see what he wants to do. he is a humble guy. maybe will give you the opportunity. i will leave that up to him. >> in light of the situation, the security situation going forward, are you considering closing times square? >> it is premature to say that. if you go to times square, you see the presents we have there right now. in the back row. [inaudible] >> we have not yet. obviously, our condolences to the people in argentina and belgium. our condolences to those nations on the people in their families especially will do everything we

can to support their families in the small man. i think everyone feels we are all connected at this moment. we have to be there for each other. >> yeah, second row. [inaudible] >> now, we are not going to convert or not. [inaudible] >> yes. we are not going to get into the details, but he seems to have followed the regimen prescribed. >> all the way over on the left. [inaudible]

>> again, i think today is about a focus on this incident and now we have to do to respond to it. i could say simply, we support vetting of individuals. we support very thorough vetting, not of groups of people just because they belong to a group. we think this is a very crucial distinction. there should be very, very careful vetting of anyone where there is indication of a concern, but not because of their religion were not because of their country of origin. and there is a much bigger conversation we could have about guns safety.

the n.y.p.d. has always rigorously believed we need to keep guns out of a city and the gun safety laws are here to protect us and protect our officers. there will be plenty of time to discuss these issues going forward. i want to affirm the governors point. you know, this would be a unity moment where the focus is on solving the crime and figuring out how we can move forward to get not pointing fingers. >> the president's tweets i think were not helpful. i don't think they were factual. i think they tended to point fingers and politicize the situation. he was referring back to an immigration policy that dealt with a lottery and blaming

people who passed that immigration policy. his tweet wasn't even accurate as far as i'm concerned. that was a bipartisan law that was passed that had basically no relevant to the fact of the situation. as i said before, you play into the hands of the terrorists to the extent you disrupt and divide and frighten people in the society. in the towel now should be the exact opposite by all officials on all levels. this is about unification. this is about solidarity. this is about normalization. this is about protection. the last thing it is about his politics. as far as gun laws, i.e. an increasingly proud that new york state passed some of the

smartest gun laws in the country. the safe act i think is madness the number of assault weapons that we have in this country. i think it endangers law enforcement. i think it cost us untold numbers of deaths and i hope one day we will have a federal policy that actually brings sanity to the gun policy laws in this country. >> on the left. [inaudible] >> we are going to back through all of the contacts, but i think this is an important time to say, this isn't about islam. it's not about what mosque he attends. there were hundreds of thousands

of law-abiding muslims in new york city who are adversely affect did buy things like this and it is probably a good time to say we have seen in the aftermath incidents like this come a hate, assaults and people will respond to those, investigate those of anybody behind those will be prosecuted to the fullest extent of the law as has been said here before, it is a time to gather -- to come together and not confuse this terrorist act within a broad brush against a religion or a particular is to to shame. [inaudible] >> we are doing interviews with

family members, friends, associates. we are not going to get into what they are saying or not saying, who is cooperating. it is just too early. thank you very much. stuart: now, during that news conference, we heard several things. let me move on to something which was brand-new, which we heard during that press conference which refers to taxes. fox business has learned that the old highest tax rate, 39 points six will stay. they are going to say they are creating a fourth individual tax bracket, but in fact it is the old 39 points 6% rate that stays. this is big news and this may be why the market has come down from a gain of 130 points to a gain of just 41 points. our next guest with us now, president trump should look to president reagan's lead on tax cuts are joining us is craig shirley, presidential historian,

but making a reagan conservative so, this idea you are going to keep the old tax rate, that is anything but reaganesque shirley. >> he ran on reducing taxes. he reduced taxes and 81. in 1986 he was always coming in the outcome is that i'm in favor of lower taxes. 39% in the 86 tax bill was a compromise. he was actually fighting for a much lower bracket but he had to compromise with the democrats in congress. but he did manage to simplify the tax code. he did manage to increase tremendous amount of revenue because of the massive cut in taxes, which also led to unprecedented 18 million jobs created, elimination of inflation. stuart: real fast now, the way things look, the tax plan, and the way we are looking at it right now, it doesn't look

reagan asked, does it? >> not particularly. it's not revolutionary. the way it is understood as money is about power. 1981, look comments about money and jobs and things like that, but it's also about rearranging man's relationship to the state. a, that is a very profound thought indeed come in no way talks like that except for newt gingrich anymore. he wants take as much money way from washington, give it back to the citizenry so they had more power than the national government. >> i'm sorry this is so short, but i've got to pack a lot in here. president of citizens united, former deputy director of the trump campaign. david, are you disappointed to hear that the old top rank 396 days and we will probably get rid of the deduction for state and local income taxes? >> first of all stuart, thank you for having me. this is a little too early to know exactly what is in there. but i thought the president ran

a campaign on tax cuts for all. so i am going to be a little surprised that the folks at the top end, which paid the highest taxes come in the highest proportion of taxes are going to end up being penalized potentially because tax simplification on one hand can give them a tax increase in incense -- nsn speared stuart: rmd which appear is reporting that it stays. if you combine the old combine the old top rate, no cut for the top 1% and you combine it with getting rid of deduction for state and local taxes. a lot of wealthy people, high income people will end up paying more in taxes, not less. >> that is a problem because those are the people historically, if you look at tax cut back in the reagan era and other times in america, it is exactly those people that put

money back into the system through hiring of people, creating new businesses. it is those folks that will bring most of that money back into the tax cut if they were to get one back into the economy. that is what is surprising about this announcement. stuart: i am saying disappointing. >> yes, sir. stuart: thanks so much. sorry to do this so quickly. a lot to pack in here. we did say the new gop tax plan will have the 20% corporate tax rate, no phasing in. 20% tax rate. what about small businesses? we don't know exactly what rate they will be paying. catherine is at best, southside ceo. you ceo. you're a small business person. that is what you do. do you have any idea what tax rate to pass through small business owners will take with this tax package?

any idea at all? >> not yet. i had to hoping the gop leadership stays at the basic framework of a 25% tax for the pastor in season. that will help those 80% of small businesses that employ 50% of the private-sector employees to have lower taxes so they can add jobs. stuart: you run a small business. you bypass through deal. if you're a high income earner from the small business, you don't get a tax cut. you stay at dirty nine points 6%. that is not a cut. >> i need to see the bill, but as sanders to the framework were for the actual businesses health in the past or entity, business operation would be 25%. i can't wait to see the bill, but i am hoping we lower taxes on the small businesses that employ 50% of private-sector employees. stuart: i agree with you. if you bring that down for small businesses, you stimulate the economy because you put our

money back into private hands and that is why the market rallied earlier today. that is where we are. we don't have details that we are supposed to get them to market very sorry to cut this short, but thanks for being with us. much obliged to you. herb london, you've been sitting there very patiently listening to all this. >> the disincentives created for people who generally put money into the market. it's rather remarkable to me. i was expecting something very different. i'm very disappointed. it seems to me if you look at this from a 1% the american population pays 40%. if you get 10% is almost the higher tax framework in america. always got to do is create an environment that their incentives for people to put money into incentives. that's what i do not understand about the 39%. ashley: is this why we have the house ways and means committee going to see the president tomorrow saying look, this is it. what is president trump dusan

wait a minute because a big disappointment. not what he ran on. stuart: is david bossie with us? i'm sorry, we had to say goodbye to him. i really wanted his input in yours and everybody on this meeting tomorrow, which you just race at the white house. the house ways and means committee writing this tax proposal and they're going to see the president. ashley: i can imagine he would be. >> people living in new york, california, illinois, the state and local taxes and on top of that you pay 39% rate. this is a dramatic increase in taxes for people who are very wealthy and put money into the market. stuart: it's not wealthy people. high income earners. $10 million worth of microsoft

stock. you don't pay tax on that. and you never sell it. you've got $10 million worth of stock. you go to a bank and say give me alone. there's the security. stuart: give me alone and they'll give you a loan then you pay it back. you don't pay any tax. come on. now, is that why the market has gone from a gain of 130 points to 44 points. >> i think that is right. there is a certain kind of exuberance. once you start looking at details, the market is honestly reflecting this kind of change. stuart: added shapiro's report that they will keep 136 did not help out at all. and then the news that the house ways and means committee is going to go to the white house tomorrow. we don't know whether they go to the white house before or after the release of the details. if they go before, but i thought

these details -- >> maybe that is hurting the markets. maybe this hasn't been put to bed yet. stuart: we are told that there is still going to be a late morning announcement of ways and means. tomorrow. that is the detail of the tax man. i don't know whether the house ways and means committee logo to the white house. >> don't know the timing of when they go to the white house. stuart: before we leave, we are sitting here listening to the press conference. mayor deblasio and governor cuomo took aim at president trump without ever saying their name. and without getting political. you were wholly theirs, not helpful with your tweets about the delivery visa program. not factual.

>> on one hand they are saying we have to have people well vetted and on the other hand say we will protect ourselves. you don't have to worry about this in the neil: stuart, i've been looking at this. crunching some numbers. this might be the markets overreacting to something. 39.6% rate would stay. if you lift it up to a million dollars, they seem to be factoring that even if you lose your local and state tax deducks and in high states like new york, california, illinois, they seem to be factoring even with that boosting to million dollars, differential paying at lower rate, they see that number when crunched net-net, you are not paying more. i have not crunched but that