thanks for watching "strange inheritance." and remember, you can't take it with you. much, now here is lou dobbs. lou: good evening, breaking tonight, chaos on capitol hill. house lawmakers spending a third day debating tax legislation, the chance of passing are uncertain. and china giving president trump red carpet treatment on his two day visit, president welcomed at airport with an honor guard, marching band, children waving, american and chinese flags, a sharp contrast from president -- previous president's welcome there last year. we'll have comparison for you, tonight. and republican establish. suffering a huge defeat.

one of their favorite sons, ed gillepsie losing virginia a gubernatorial race. and losing it by 9 points, after he decided not to embrace populist president trump's winning policies. we'll take it up with ed rollins and michael goodwin. our top story, house and senate committees scrambling to markup their tax bills, expected to unveil their measures tomorrow. but chairman of house, ways and means committee can now working on a so-called manager's amendment, that means chairman kevin brady is writing up the bill that will be released, we believe, tomorrow, whether he decides t to rewrite most or so, keel found out, house committee also revealing the swamp at work, deeming with a new -- dealing with a new 74 billion dollar revenue gap after an amendment cut excise tax that

had been planned to discourage multinational companies from move their profits out of country, lawmaker, bow to pressure of, lobbiest, leaving a $74 billion hole and new no impediment to transfer of that capital from the home economy to overseas. swamp far from drained. swamp creatures still fattening up on taxpayer dollars, delaying a 20% corporate tax rate by one year, senate ignores president trump's call for immediate and permanent corporate cuts. good evening chad. >> great to see you. >> have you been very busy today. >> indeed. lou: what is the ways and means committee stand. >> they lettous for night -- let out for are for the night, we thought this would be ultimate

session in ways and means committee. late into night perhap offers night, maybe until dawn. while they worked on this markup. everything changed this afternoon, that because kevin brady is preparing a manager's amendment. that is term you will hear on capitol hill for next 24 hours. that is final tweak sometimes minor in nature other times consequential that changes bill, when democrats put together cap and trade climate bill in 2009, republicans were -- they putting it night before they put bill to floor 309 page manager amendment to cap and trade bill, that was before they voted on it, in committee nobody knows what consequences of this managermm will be, democrat plan a lot of amendments through night, votes which is why we were expecting a witching hour

session, you can see boxes stacked up by. democrat put skids on this, say if we're not voting on final version, why should we be offering amendments. they will finish tomorrow, some people saying, why if they had a year to put something together why not have final text, that is criticism from both sides here. lou: why? why would it be necessary to be going through this heroic moment on the part of the chairman, kevin brady, and do a manager's amendment here? which is him rewriting the whole thing? >> you know, you don't have the votes. you coidon't know what roveny rd

be. numbering not -- -- lou: wait. 74 billion dollar in additional problem for committee, and the those pushing this legislation. because they ran from their own solution to the transfer of capital from this economy to overseas, because they killed a 20% excise tax. what is going on here? >> this is where i talk to a lobby theft afternoon, said -- lobbyist this afternoon, said this will be a problem in the out years. there is a debate whether they put in individual mandate repeal. congressional budget office put

out a report that say its provides 338 billion additional revenue, less than they thought, they thought it would hit 410. you know big question is what happens in senate. we'll get that tomorrow. they do a markup. without the full text. >> you know there is a lot of bull across capitol hill. they look at rules to play. and to maneuver themselves into the interest of those who seem to donate the most money to them. and i think that is what the play here, i am not going to ask you to comment, that my opinion. other question, senate planned to come with their release of their bill. right after the markup, house

bill now we don't know what the house bill comes is that still the plan? >> still the plan, we'll see this in two parts tomorrow probably from the senate, they will brief, members then, the final vote is what senate will put out its bill, they want to give house elbow room, you know people have to go through the bill, a big piece of legislation, people will be trying to see what the manager's amendment looks like. lou: that is the bill. >> there is the major tweak. lou: chad thank you. >> any time. lou: thank you. well, what a mess. joining me now, ed rollins. political director of the reagan

white house, still after all that, a sense of humor. >> i have not g got a clue what they are talking about. i teach courses in american politics, i have no clue, american public is appalled by this, is that, donald trump and republican promise a tax cut, where is it? lou: you have to believe that trump white house, right now they have to be appellatic. >> they should be. presidenta conducting an international trip, carrying flag well. and be strong leader, and congress is killing him. you know -- lou: they look like children while you know, the president is overseas, dealing with most important issues and challenges, facing this country. >> well, the public is fed up. today, they don't get why it condition -- can't funk, you

hear the steu stupid rules, aboe stupid rules. if they don't do that we'll spend next decade. lou: not with republican leadership. if looks to me they are headed for disaster. >> up -- lou: unless they get straightened out. >> they got a good warning shot yesterday. lou: i heard a few -- saying that problem is trump. you know they did not acknowledge what this was, those are establishment republicans, going down to dirty defeat. >> there you know reality, northern virginia, the heart of the swarm, now carries that state. 220,000 vote margin. for new governor of -- lou: greatnist history. >> and that how the game. is. why do we pretend that trump didn't carry the state.

christie put state in the dark ages, let's get on with it. and pass legislation, and all get up. lou: that sounds so simple. >> we have to run, great to see you. >> president trump, is earning high praise for his 14 day trip to asia. the president and first lady today arrived in china, greeted the beijing airport by dozens of children, waving american and chinese flags, quite an impress impressive site, in contrast on that of president obama last year. this is president obama coming out of rear end of air force one. because they did not have a -- for him.

he was denied a rolling stairways, not president trump, they put something up worthy of roman empire. at least the movies that i have seen. this not first time that president obama was criticized for weakness, you recall he also bowed to japan's emperor in 2009. amazing. >> in contrast, president trump monday shook hands with the emperor, and maintained his normal election posture, president trump receiving a rare honor, first foreign leader to dine within china's for forbid n city. today president trump will hole more talks about his counterpart president trump xi jinping. high on the agenda, trade, and north korea. an issue that president trump .

>> we will not let worst atrocities in history be repeated here o this groundry wd died so hard to secure. lou: north korea responded warning that u.s. will continue t,we're coming right back with much more. stay with us. >> clinton corruption exposed. donna brazile said that clinton

campaign, was a cult, that could not be penetrated, we take up the clinton's vast web of corruption with chris fairly of judicial watch. >> and today, marks one year, since elect of president trump. >> we hit i guess close to 60 records on the stock market since november 8. that big day. >> we take up many accomplishments of what they be most successful president in history. stay with us. this is what it's all about, jamie -- helping small businesses. damage your vehicle? we got you covered. [ glass shatters ] property damage? that's what general liability's for. what?! -injured employee? -ow. workers' comp helps you pay for a replacement. what's happening? this is carla. how's it going? and if anything comes up, our experts are standing by. ♪ boo!

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lou: federal judge in trial of paul man manafort, that issued g order, it warns them again making statements that might prejudice the case like charging them with things like prosecutors did. defending themselves in public is not permitted. >> house intelligence committee decided to strike a deal with cofounder of fusion gps, lifting subpoena and glen simpson will meet behind closed-doors with

them. he will not need the fifth. >> joining us now, judicial watch, head of investigation and research, chris farrell, let's start with this they plays foot with glen. >> it was an opposition manufactures pirm, i firm, in te business of creates dirt, then smearing it. this move by simpson to do a special deal with limited questions behind closes doors. maybe they think they are getting super inside, this is problem with congressional committees. very often it is a sound bite

event. lou: why are they acting like chumps and elevating him, putting him in a preferred position. we're watched. >> real answer is this is a gross leadership failure. that is why you have to go in analyzing this, you can't talk it are away. this is a leadership failure. specifically mr. rubin, but other members in leadership, at committee level. you can't have a guy like this come in cut his own special deal. he placed him direct -- lou: a couple questions come to mind, where is house oversight here? where is the house judiciary committee? what are they doing? they are acting like little pink

poodles who are afraid to get into the arena. >> they are. lou: they don't want to be held accountable for a investigation of pressing national issues. >> they are nearly worth less. they are good for what we're discussing that bringing up topic, we need attorney general of u.s., and department of justice, you know to impanel grand juries and start indicting people. lou: what is it going to take? >> i don't know how much more twisted and perverted it could get. we're at point now there is evidence to go before grand jury. only thing missing is a dead body, maybe this will come along some point. lou: some would argue they have that body. >> true, but i am speaking with

respect to regard to fusion gps. but, these are people who dispatched russian attorney. to meet with donald trump jr. after the meeting they recover back and do a briefer all same time, shortly after that day, perhaps. mrs. clinton is funding their operations. lou: let's go to andrew mccabe, number two at fbi. never recuses himself. >> never recuses himself. >> never. >> you find these out. what is to happen, there is no react, no reflex from prosecuters, attorney general, it is mad epin ending -- maddeno

went. >> supposed check on that are committees of congress who do nothing. it is left to watch dog organization, to you know, point this out, call acontinue shin to it and demand that something be done, all normal mechanism of government are failing. and that is why i say to you over a week ago, we are in danger of sliding further and further toward being a failed state. those are serious words but i mean them, it cannot continue this way. lou: wha kind of lilly livered leadership is there in republican party that would permit this absolute farce to persist without consequence, without result? >> there is a lots of mand wringing and woe is me, no one will step up say, we're heading down a path of disaster it may

be, they have to lose house in 2018, and country will be subjected to the next two years strait of 24/7 impeachment talk. >> this spiral of doom, is not one from which we would be likely to recover, i think we have gone as far down that, spiral as we should have to even imagine. chris thank you. >> chris farrell. lou: vote in our poll, do you believe last night elect result are a final sign for establishment rhinos to get behind trump agenda or just get the hell out of the way? cast your s vote on twitter, and follow me on twitter. >> dallas cowboy owner jerry jones, is like texas itself, not to be messed with now threatening to sue nfl. if other owners approve a

contract extention for commissioner goodell, jerry jones has reportedly hired attorney david boies to block that contract, cowboy owner said that be outraged over goodell's handles of the national anthem controversy. on wall street today, a record for stocks dow up 6, s&p up 4, nasdaq up 21, all new record highs, volume is 3.8 billion shares, nearing 4 billion mark. presses for changes to at&t's proposed takeover of time warn warner. at&t ceo said, he did not offer to sell cnn and won't, shares of time warner blink -- plunging more than 6% on the development. >> up next. one year, after being elected, president trump is delivering

for the american people. tonight, in beijing. i'll tell you how far we have come in this year. here next. in my commentary. stay with us.

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lou: one year since president trump wouldn't election. the dow jones industrials has gained to date more than 28%. more than ever before in history. the s & p up 21%. the nasdaq up more than 30% since election day. the economy expanding 3% of the third quarter exceeding the president's growth. unemployment at 4.1%. that's the lowest level in nearly 27 years.

president trump has promised to pull out of the trans-pacific partnership, and the paris accord. and kneel gorsuch is considered the most of important jurist to join the court since antonin scalia. the president is moving forward with building the border wall. fate wall prototypes recently completed. zes mighcompleted. -- despite ae accomplishments, the congress refuses to follow his agenda. tax cuts in jeopardy for the middle class and business, republicans in the house and senate should not miss what i believe to be a clear signal of

yesterday's elections. voters have had it with establishment figures, their failures and the status quo. wor anything else than the trump agenda. ralph waldo emerson said to be yourself in the world where they are trying to make you something

other than yourself is the greatest accomplishment. ed gillespie loses in virginia after he refuses to address president trump's populism and policies. what do you get when 217 skydivers get together way up there. a world record of course. we'll have the incredible video you might take something for your heart... or joints. but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember.

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lou: senatormen menendez accused of accepting money next change for political influence. back with me now, ed rollins. we are joined by michael good, i. great to have you here, michael. good to see you are sticking with us. i want to say very quickly your column is terrific. talking about how brazile's book "hacked" has been made possible by series of developments in the

publishing of the clinton book. now she says she didn't mean that. >> i wrote about the fact that we didn't know any of these things. that she had been talking to others about replacing hillary after she collapsed on september 11. they had been talking to the biden people. if we had a functioning fair media we would have known this in september. we are now finding it out not from a journalist, but from inside the campaign. it's because the media did not cover hillary clinton with the same scrutiny as donald trump. lou: she has served the public

function that is the responsibility of the left-wing media. ed: donna is an old friend of mine. she has given her life to the democratic party. i would expect that anything she says in that book is true. she has been around a long time. lou: she's the only one who has had the guts to speak truth. ed: she went in there after debbie wasserman-schultz. i think one significance of the book is it puts the final nail on any hopes clinton will run again. i think she still wants to. i think it's her time to enjoy a

nice perspective. let's talk about as well. the thanks cuts we seem to be having trouble with in washington. the swamp can't seem to decide which swamp creatures will do their bidding. we are watching a manager's amendment. the president wants a middle class thanks cut, and it seems to be the last thing the republican conference on capitol hill in either house will give us. ed: a tax cut will work. if i get more of my money back and you get more of your money back, we'll spend it and it will work. what they are trying to do is reform the thanks plan that's 3,000 pages.

you have such a small majority you can't afford to lose. when you get into the more complicated part. that doesn't seem to be paul ryan's way. lou: is he so corrupt he's doing the bidding of the business round table and the chamber of commerce? he seems more than just confused. ed: there is a deliberate effort to do something that will benefit them as opposed to benefit people across the country. lou: the president says it's a middle class thanks cut. make it about the middle class. it doesn't seem peninsula, thene

to get them away from north korea one way or another. i think they have gone the extra mile, and if china won't help, they will bear a lot of responsibility for what looks like a horrible outcome. >> they should share in the pain. because they created this. ed: two of the most of powerful men in the world looking eyeball for eyeball and trump is doing a

superb job convincing people he's for real. lou: please roll the video and watch as 217 skydivers jump from 10 aircraft at the very same time. before coming together they create a record-setting flower pattern in the sky. a flower pattern? this group hitting top speeds of 120 miles per hour. and the skydivers. 104 skydivers have held a previous record. and they blue by this record. president trump getting a warm welcome in asia as he steps up the pressure against kim

jong-un. >> the regime has interpreted america's past restraint as weakness. this is a very different administration than the united states has had in the past. lou: tony safer takes that up -- schaeffer takes that up and more thank you

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lou: wars in afghanistan, syria, iraq, have cost three times more than the pentagon's estimates and forecast. a book in 2008 entitled "the three trillion dollar war." i told stiglitz i didn't see you how it could reach that level. it almost doubled it. 16 years later and we still have not brought afghanistan to

resolution. i was wrong about that. sorry about that. it's great to have you with us. let's start with one of the most of important purposes of the president's trip, that is to assure cooperation and support from xi jinping in the effort to denuclearize the korean peninsula. how do you think that's going? >> i like the way you opened regarding the cost. we made great investments in japan and their prosperity. the chinese have to understand there will be consequences to their neglect, and i'm being polite when i talk about that. maybe we are look at this incorrectly. maybe we should look at how we can use north korea to get china's attention.

the president is visiting the forbidden city. the first time a western leader has been allowed to do that, it's a sign of respect. china is a growing power. they have had design on influence throughout the pacific rim, probably the world. i think we need to look at a way of not so of having china leverage north korea. we should use north korea to leverage china. lou: it seems difficult to couple with a plan that's that's concrete and practical. what would you suggest? >> the reagan white house had to come up with a plan to destabilize the soviet union. i know in these abstract concepts.

they had to come up with a plan to do some of these difficult things by touching on the outlying issues to get at the heart of the soviet union. i don't have the answer. but i'm saying there is a roadmap that worked in the past. maybe we ought to dust off and look at people who built that plan to get us ahead of china. lou: lieutenant colonel tony shaffer as always, thank you. turmoil on capitol hill. the house and senate rejecting key tax plan provisions supported by president trump, advocated by this administration. we'll take that up with herman cain. he joins us after the break.

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"hacks" answered hillary clinton's question, what happened? 85% of you say yes. joining me, herman cain. let's start with his tax reform legislation as the house likes to think of it and the tax cuts the president is advocating. why can't they come to terms with the fact they have got to enact the president's agenda? >> i respect and admire the president for putting a bold plan on the table. i expected it gets to the house and they continue to water it down. because everybody has their own pet deductions or pet constituency that they are trying to satisfy. this is my greatest fear about where this thing is going. here is my second greatest fear.

senators said we are going to start work on our version of the plan. that's the problem. that's how repeal and replace got killed. republicans couldn't get it together and they didn't stay close to the president's proposal. lou: i heard a dam fool in the house say the won't market moved up over the course of the past year is because of the house tax reform plan. he said it with a straight face. it was stunning. that's what we are dealing with here. >> the reason the market has done what it has done. the reason we have all this positive enthusiasm exemplified in the economic metrics is because what this president and this administration has done without that help, the only legislative victory we have gotten is the nomination of kneel gorsuch to the supreme court. beyond that, all the democrats

obstructed on everything. and you have a group of rinos who don't want to see this president succeed. and the republicans will have to raise some cane. lou: the president in beijing working with xi jinping. a relationship with the chinese leader, a positive relationship, just as he has done with prime minister maybe in japan and with macron in france. this is a man, the president, who has been moving against all expectations and breaking the mold, if you will, of the expectations on the part of the

he fleet and getting no credit. >> you said the key word, relationships. you know and i know if you want to get something done with anyone it starts with a good relationship. so it puts being suspect aside. that's one of the important things i think president trump has achieved with a lot of these leaders. we can't react or believe what we hear there the media. this president is not trying to create foreign policy based on sound bites. he's trying to create good foreign policy relationships based on establishing a relationship. that's key and different from what we have seen in the past. lou are said in the campaign he wants to accomplish things. he wants to do things. he's results oriented.

he wants to move the needle and create concrete results in the interest of the nation. there isn't anyone who doesn't understand in my opinion in this country who has paid any attention at all to the news what this president is trying to accomplish in beijing. that's remarkable. >> it is remarkable. you hit the nail on the head again with the word "results." the only people who don't want the results this president is trying to achieve are the members of the swamp. it doesn't just mean democrats. it means democrats and rinos. he's not backing down and trying to learn how they do things in washington. the way they do things in washington is called incremental progress. this president wants bold progress on a lot of the big issues we face.

lou: that's it for us tonight. we thank you for being with us. tomorrow sebastian gorka and ken black are among our guests. thanks for joi much, now here is lou dobbs. lou: good evening, breaking tonight, chaos on capitol hill. house lawmakers spending a third day debating tax legislation, the chance of passing are uncertain. and china giving president trump red carpet treatment on his two day visit, president welcomed at airport with an honor guard, marching band, children waving, american and chinese flags, a sharp contrast from president -- previous president's welcome there last year. we'll have comparison for you, tonight. and republican establish. suffering a hug