maria: great show, everybody. thanks for being here. over to you. stuart: 13 months ago the dow was at 18,000. 43 days ago it crossed 23,000 and a half hour from now we expect to be looking at 24,000 on the dow. good morning, everyone. look, i've been doing this for a very long time. i don't remember such a powerful stock market rally and i don't remember such an unexpected rally either. nobody saw this coming. so what's going on? point number one, the best economic growth rate in a decade better than 3%. number two, record corporate profits probably going higher still. three, deregulation of many sectors of the economy freeing up growth and invest men. that's the trump rally. and right now the all-important

factor, tax cuts. a deal in the senate looks very likely. yes, there is last-minute bargaining but all 52 republican senators including john mccain voted to get on with the debate. that is a positive signal. president trump in full campaign mode in missouri yesterday pushing a tax deal hard. he says tax cuts pour rocket fuel on the economy. oh, the crowd loved it. that's our show today. 24,000 on the dow, tax cuts and a live-action presidency. varney & company is about to begin. ♪ ♪ >> senator claire mccaskall, is doing a tremendous disservice, she wants taxes to go up, she's weak on crime, she's weak on borders, she's weak on illegal

immigration and she's weak on the military, other than that, i think she's doing a fantastic job. [laughter] stuart: that the way you get a democrat senator to vote with you as a republican? he took -- you could te he took a shot right at missouri senator claire mccaskall, she's a democrat. the debate on tax bill is under way. a number of senators still have concern but surely nobody wants to be the one that kills tax cuts, kill the president's growth agenda and the gop in next year's elections. some senators not happy with the treatment of small businesses. they think big business gets too much. joining us now small business administrator linda mchamen. >> nice to see you too, good to be with you this morning. stuart: we are told that 70% of the benefits going to small business are actually taken by

high-income earners, the 1%, what's your comment on that? >> you know, stuart, if you want to small businesses want, go out and talk to them. that's what i've been doing. since last may i have been all over the country. i have actually been to 25 states, i have talk today more than 450 businesses and without fail, every one of those businesses have said, look, let me have tax cuts, those tax cuts will be plowed right back into my business, they are not talking about percentages, they are not talking about where things are going, they can put it back in businesses. they will hire more workers and open new shops. stuart: this came to me from someone who represents a small business organization and he told us yesterday, look, he would vote against the bill in its current form if you don't improve what's being given to small businesses. is it accurate to say that 70% of the

value that are going will end up in the pockets of 1%, is that accurate? >> well, i don't know that that will be accurate because we don't really know what the bill is going to be yet. i think it's going through the right process. amendments are being put forward and we are voting and debating it and this is the way the process is suppose today work and everybody should be advocating how they believe is best, you know, for their particular constituency and i'm out there listening to small businesses around the country and they're telling me tax cuts and that's what i'm hoping for. stuart: as small business administrator, we are told that we might move the maximum tax rate on big business up to 21 or 22% as a way to giving more for small businesses, would you be in favor of that? >> well, i'm in favor of making sure that we can give small businesses as much as they need but i am very supportive of the president's agenda. i think he's holding very closely to the 20%, but let's

see -- let's see how the debate goes. i'm in there listening, i'm hoping the senators are really going to come out with a good bill and as the president said yesterday, look, we are putting all of these things he called it into a blender, i think, and in the end, we are going to take out the product that is going to be probably the best tax reform policy that has been for our small businesses and middle-class income probably in about 80 years and so let's see what that's going to be. i'm all for it and i'm anxious for it to be passed. stuart: well, as of right now the future's market indicates the dow industrials will open up 150, maybe 120 points there, you go, 120 points, that is on optimism that we will get a tax cut deal done in the senate. last question, i've got 10 seconds. are you absolutely positively certain that we will get a tax deal out of the senate? >> i feel really confident, you know, you can't count your chickens before they hatch but the feeling seems very good in

washington. stuart: we are very glad that you came up with that. linda mchamon. much oblige to you. >> thank you. stuart: this is a rally. you'll be watching it at the opening bell. we will hit 24,000 on the dow right there, 23 minutes and 20 seconds from now. 24,000, here we come. how about sears, it's lost money in every quarter for the last six years, however, they are going to focus on specialty stores, that's what's moving the stock 24% higher. who thought sears -- we played the organ music, they are back up to 5 bucks. ashley: hold the organ. stuart: that's right. don't forget big tech. did they lose a lot oh money yesterday? stock prices came way down. modest bounce-back this morning for all five of them. but that's not much of a bounce-back after the big losses yesterday. by the way, some of the leaders, the big investors, founders of

big tech, they lost a fortune yesterday. >> the math is more than $7.6 billion. stuart: for all of them? >> mark zuckerberg, jeff bezos and sergie and google. there's a hit. jeff bezos lost 100 billion-dollar crown and worth $98 billion. you know, the tech sector really got wacked yesterday, smoked out $60 billion overall in market value, vaporpized. stuart: would we see buying on the dip? >> that's what helped sustain -- stuart: will it work again? >> there's a real warning sign quickly slashing 21 stocks are responsible for more than half of the gain in the s&p 500 year to date and it's not a good

signal. stuart: back to tax reform. senator john kennedy is with us, republican of louisiana, favorite guest of the show, love the accent, mr. senator, and the way you express yourself. >> i like your accent too. stuart: there you go. i give lessons very cheap. do you have the senate votes to pass this thing to the senate, you got them? yeah. stuart: for sure? >> i feel great about this. i was talking to senator rounds and he said, kennedy, on the republican side we are finally dealing with a full deck. we've got all 52 cards and all 52 votes. now, on the final bill we may lose one, maybe lose two, but we are going to pass this thing, we just need to go, stuart, we need to saddle up and ride. i wanted to do this last week, i was outvoted. i didn't wanting to home for thanksgiving. when you have them down you choke them and you don't let

them up. stuart: you choke them. >> we are going to pass this thing and we are going to start about 4:00 o'clock, i predict and i'm ready to stay all night and tomorrow, however long it takes, let's go vote. look at the stock market. just as you said, they're anticipating this. hey, help is on its way. stuart: senator kennedy, there's a proposal to raise taxes back up again somewhere down the road, it's called a trigger if tax cuts don't raise enough revenue, what do you think of that? >> i hate it. i don't think we need triggers. i'm not going to let it prevent me from voting for the bill. i'm not going to pull after -- all the kids stuff, i don't like the trigger, i don't think we need the trigger, if they want to do the trigger in the unlikely event that we miss our

numbers, they don't need to trigger tax increases. they need to trigger cuts and the spending. stuart: you know why you're so popular on the show, it's not just the way you express yourself, not just the accent, everyone in our audience knows exactly what you just said, clarity. >> thanks, man that means a lot. stuart: thanks for joining us. much obliged. >> you bet. stuart: let me tell you a problem, not a problem for market, a problem for american airlines, a computer glitch gave time off to every pilot who asked vacation time during holiday season, every single one of them who wanted them, got them. american airlines scrambling to fill the empty pilot seats, they are offering time and a half to bring them back. let's see how that works. senator bob menendez blasting tax reform plan, he calls it president trump's way of punishing blue states who voted against him.

you'll hear directly from him. three women who accused bill clinton are barging into senator al franken's office demanding he resign. full details coming to you. 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.

stuart: let me tell you with some degree of certainty, the dow jones industrial average will hit 24,000 or very close to opening bell this morning. we are going up again today. clinton accusers, i repeat, clinton accusers storm senator al franken's office, take me through it, liz. liz: juanita, leslie, all three said that they were assaulted by bill clinton. earlier in the day they held a news conference but then after the news conference they went in to al franken's office demanding resignation and also john conyers resignation, the police showed up. what was stunning is what they were saying at the news conference earlier in the day in dc. they said they want the resignation of al franken, john

conyers to resign, they want the secret flush fund that pays off for things like sexual harassment by congressmen among other things to stop and leslie said i'm tired as a taxpayer of paying the pension for bill clinton. that has to stop too. stuart: reaching back comes to bite you now. interesting. all right. we are staying on the sexual harassment story in the media and in politics too. matt lauer as you know was ousted immediately, he's gone. senator al franken and representative conyers, the announcement came, they were accused but they stay, fox news contributor lisa boothe is with us. i could call that a double standard fairly easily, what say you? >> yeah, it is a double standard particularly from a party who has long try today label the republican party as antiwomen. you saw meet the press interview with nancy pelosi you she seem to basically said that conyers

deserves special treatment because he's on icon, that's what people got from the interview and slammed by liberal publication calling it a train wreck and calling it one of the very reasons why a lot of other women don't step forward to bring these allegations. stuart: what a lot of people wanting to back and look at some of the settlements in the past, reveal what the settlement was for, what it was about and reveal the names of the people involved including those who were paid money in return for their silence. is that legit, if you make a legal agreement back then, can you just open it up now and breach that legal agreement? >> well, you know, i'm not an attorney but i think that the transformation is a positive thing. look at the office of compliance and the road blocks that are basically put in the way for accusers and victims of this

sort of behavior is ridiculous. i mean, there's things like forced mediation, it's clearly to protect the powerful and to protect the members of congress versus protecting the individuals who are bringing allegations. things like that need to change and the ones writing the rules for the rest of us, they should also be held accountable and also have to follow the rules. i think that's some of the changes that you're seeing on capitol hill. just yesterday the house voted on resolution, the senate did as well of basically forced training, forced sexual harassment training. there should be accountability for the members of congress who are supposed to be serving us, the people. stuart: no argument there. the rules are changing very quickly, this is a new era. thank you very much, lisa, glad to see you, good stuff. now let's move on to the nfl, i'm going to use the word cave, they waived to pressure, reportedly they've agree today donate $100 million to social justice charities, however, they

won't make players stand for national anthem. no quid pro quo, i don't get it. more varney after this they appear out of nowhere. my secret visitors. appearing next to me in plain sight. hallucinations and delusions. these are the unknown parts of living with parkinson's disease. what stories they tell. but for my ears only. what plots they unfold.

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stuart: moments ago we were talking about congressman john conyers and now we have breaking news from fox affiliate,

mr. conyers has been admitted to the hospital from stress-related illness. that's just coming to us. on the oil market something of importance here, was expected, opec reportedly agrees in principal to increase production cuts to 2018, that pushed the price up a half percentage point. it was expected. there you go. 57 bucks. the nfl reportedly submitted a proposal to players on monday that will commit nearly $100 million to various charities that focus on social justice and causes important to african-american communities. lisa boothe is still with us here. no change on kneeling, they didn't make them kneel in return to 100 million bucks, i call that a nonquid pro quo, i call that a cave, what say you? >> why don't the players commit that kind of money as oppose to the nfl itself. i don't like the fact that the nfl has now become a political entity. you saw them take a position on

sentencing reform and now committing money the various charities. the nfl should not be a political entity but yet that is exactly what's it's become, so i don't like that as a viewer of the nfl. stuart: i think the players have bit tennessee hands that feed them. did you see tv ratings about the thanksgiving weekend, they were down double digits from thanksgiving day and thanksgiving weekend last year. i think football is in decline. last word to you. >> viewers are clearly sending a message and look, roger goodell has been all over the place on first amendment. players not being able to honor fallen dallas police officers that were slain and assassinated, not allowing play e to commemorate 9/11, 15th anniversary of 9/11 yet colin kaepernick can wear socks depicting police officers as pigs and players can do hands hands up don't shoot. he's all over the place about what the first amendment means to the nfl and what is allowed

an not allowed in the nfl. stuart: just pathetic. that would be my opinion. lisa lisa boothe. thank you, lisa. >> thank you. stuart: look at the futures, we are going to be up over 120 points. we will be back. stay with us, please, stay with us because you're going to watch some history. i think it's terrific. your kids go to college and you start trading. >>yeah, 5 years already. 5 years, hmm. you ever call your broker for help? >>once, when volatility spiked... and? >>by the time they got me an answer, it was too late. td ameritrade's elite service team can handle your toughest questions right away- with volatility, it's all about your risk distribution. good to know. >>thanks, mike. we got your back kate. >>does he do that all the time? oh yeah, sometimes he pops out of the couch.

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or go online to enroll. sfx: mnemonic stuart: oh, yes, ladies and gentlemen, we are all smiles because of that, for the benefit of radio listeners, i will tell you this. [laughter] >> you're on tv. ashley: sorry. stuart: we are going to open up on the dow industrials up about 100 an odd points. s&p is going to go up 10 points roughly and nasdaq is going to go up 36 points. we are going to hit, tell me if i'm wrong, ladies and gentlemen, we are going to hit 24,000 right at 9:30 the opening bell. ashley: you are not wrong. stuart: thank you very much. it really is historic. liz: go ahead. this is the fifth thousand point milestone since president trump. it crosses 24. stuart: back in the day -- ashley: back in the day. [laughter] stuart: november the eighth of last year, we were one year

younger the dow was at 18,000. today it's going to open -- open at 24,000. ashley: every bear will tell you it's just a terrible sign because it's all going to implode in the meantime we keep going higher and higher as the economy keeps growing and growing. liz: first time in nine years four straight quarters of 4% gdp growth. we haven't seen that. stuart: we keep on saying, it's just tax cut that's doing it. there's more to it. ashley: earnings, economy. deregulation pretty much across the board benefiting capital investment and number three profits, corporate profits at all-time high and probably going higher. look we have 24 seconds to go before the market opens and i confidently predict 24,000. we have confetti and balloons.

15 seconds to go, ladies and gentlemen. liz: i'm excited. stuart: you can see it. 7 seconds to go. this is a horse race folks, this is going to be fun, i'm telling you. you have any stock at all, watch this now. here we go. we are up, we are running, thursday morning. there you go. [laughter] stuart: we got it. now we are up 88. 24,085, how about that. that's a gain of -- confetti was a bit late. we will take it anyway. ashley: next year. [laughter] stuart: we trust the budget. we are up 4%. we have a similar gain. all-time high. up -- about one-third of 1%, the nasdaq composite, i'm pretty sure that's all-time high. yeah, up about a third of 1%. 6,851. sorry, not quite an all-time high on the nasdaq.

took a big dip yesterday with tech stocks. ashley: give it time. stuart: there are four mentioned ashley webster and elizabeth mcdonald along with john and todd, 24,000 on the dow industrials, we are up 106 points. okay, john and todd, you tell me >> making a prediction i predict we hit 24,000 that's today how much i can be certain of. dpengdz on tax cuts if we get the tax cuts we get the uncertainty taken out of the market we move higher and get that 25,000 in a relatively short time. remember, we're getting shaller now percentage wise so not that big of a jump from 24 to 25. stuart: i never know where you stand on these things i know afl your relatives are watching are you going to tell me that we're about to crash or what what? go. >> we should have brought up

frank sinatra fly me to the moon. 24,000 maybe this year. we're in -- and keep going up and that you can't fight what's going on. it is going to go straight up. i don't understand why we don't talk about that and other problems that are out there but we keep going up and not getting in front of it, however, i'm waiting for an opportunity to sell it. >> okay, we hear you now i want to really concentrate for a moment on the big name technology companies. they've had a very rough week. they went down huge yesterdayed. they are bouncing back a little today. but here's the question for you, john. is this a dip in the big tech stock that you would buy? john -- >> we lost john. oh, no that's a shame. you know because oh in the past -- >> a bunch of thing we lost the satellite on the the confetti. >> spent too much on it. look at the big tech facebook is up, a half percent, amazon o is

up .1% only at 1164 way up the high at 12,000 microsoft is up a little bit .05% that's not much of a bounceback and google is opened lower this morning apple just a fraction higher. john is back. okay john i'll repeat the question. we have seen a huge drop in the big name technology companies. in the past, it was a good idea to buy that had dip. is it a good idea to buy that dip today? >> i think it is. but regarding google, amazon amazon so not buy more but certainly not selling. tech sector of the s&p was up 400% this year compared to s&p of 20% so it is doubled the growth of the s&p. and i don't see that abating any time soon. look, amazon revenue wases up 35% this quarter. google's profit was up 33% this quarter you can't overestimate the benefit of tax cuts and repratuation so i think

investing for long-term buying on dip is a wise move. stuart: i want to focus in on amazon for a moment more news on amazon happening all of the time we have an analyst who says amazon may capture about a quarter of all consumers dollars spent onis line in america during this holiday season. think about that 25% of everything bought onis line will go to amazon that according to analyst could generate within fourth quarter 53.3 billion dollars in sales for amazon which would be up by the way 33% year over year. and other o interesting thing is talks about their website web service a company that is is come to they thing on consumer end online but also dominating on the web services or or for businesses as well. that is generated the web service by amazon 17 billion this year is what they estimate that is up 42% from the year before. but this all together it had a

ashley is right it is over the red ink that is pills to expand its business. so you know, this is a -- behemoth right now you run out of words juggernaut todd come on in. are you calling amazon stock price funny money? >> i think it is money maybe they're a great company. look they have one with of the best business models they have not only their own business but they've got every small pin dependent working with them selling product in which they get paid off of so what can be better than they don't have to stock their gear nor ship it so they're anything money off of everybody else and put every retailer out of business. i mean, we've got wal-mart and amazon up basically. >> 13,000 small businesses inside its umbrella. stock right now is another 1169 up 8 becomes. up right now because we're up 129 points offering in the

market you will e sou a certain level hit and then people sell. you arrive at 24,000 people and sell because that's their target price done trigger sell that did not happen this morning we hit 24,000 and powered beyond it if some sold it doesn't show up new overall average now we're up 120 points at 24,063 real fast i'm going to go through some individual stock requests news on them sales down at jack in the box stock down 4%. la-z boy says the hurricanes northern california wildfires, tear price increases all hurt their financial result so what the stock is up 4%. cloud storage firm box lost money and stock is up 26 cents. now market pbh parent of tomny hilfiger up in china and that stock is down 1.5%. go figure. barnes & noble lost more money reported sales that continue to decline, that stock is taking it

on the chin barnes & noble down 7%. lower sales at the clothing retailer express cut its forecast don't do that. but only down 3 cents. better profit at kroger, they slash prices better profits, though, up 11% at kroger. good numbers at michaels stores up 16%. look at sears, that company lost less money. 24 quarters in a row they have a falling sales. but they're going to go o towards spcialty stores selling mattress and appliances up she goes 16% off on sears. john, would you ever buy a single share of searsesome? >> no as i kid who grew up with a sears robot catalog this is heartbreaking to me but once dinosaur heads for the pit it rare orally ever comes back they sold back to raise money problem is they sold some of the most profitable assets it was a terribly mismanage company and unfortunately headed in the tar pit and we're not going to find it for a long time.

>> doin cor it a tar or pit i like it. look at american airlines they're facing a pilot shortage now briefly liz tell me had more about this. liz: 15,000 holiday flights qoangt have the pilot or the crew from december 17th to december 31st, a computer glitch gave timeoff to too many pilots in december. the glitch shows that american did have ample staff and coverage when they didn't major market affected here dallas, boston, new york, philadelphia, miami, salt lake city and others so they're trying give them time and a half to get them back on the job to take care of these flights but they're scrambling now u. >> stock is up a buck that will be over two and a half% back up to 50 dollars. lots in the market i can't figure it out. [laughter] chevy unveils a self-driving all electric bolt. therefore john come on in would you buy general noer to o os stock on the strength of its electric car business which actually is doing very well.

>> i own general motor stock because of the dividend but i love electric car business i own one with share of tesla and intel which is as ai with the chip that goes in the electric car. i think the electric car is is the new way especially with the lithium battery what they can do with storage on a massive scale so yes i'm a big bull on entire lithium sector and electric car. >> todd would you buy general motors at $44 a share? >> i would. i mean, it's john said you buy it for the dividend i don't it to go wild like a tesla or other stocks by a quarterly basis is a nice payday back and steady getting 4% or 5% so a pretty good deal for me. >> works for me. not bad unless you're used to 30% in the stock market overall. [laughter] we have a side bar story here on tax cuts. at&t they've made a big promise if tax reform goes through. what's the promise? >> ranldz stevenson so ceo says

we have tax cuts immediately with enable us to invest 1 billion at least he says at least 1 billion he says will create 7,000 new jobs. he calls them hard hat jobs these are not low wage but 70 to 80,000 a year where hard hat jobs rebuilding infrastructure and rebuild at&t he says all we need is that help on the tax end and leave other companies will join suit. >> i'm surprised prump is not tweeted something about that. that's a hit. that big hit -- >> msnbc host saying companies are going to sit on their cash, really? >> how would she know? >> because they're tocker fact. >> very nasty. that was good. very good we appreciate that. now, totally different subject but great interest to a lot of people bit coin is now run up this year or what? now todd i don't know where you stand on bit coin i have no clue, but you tell me is bit coin a bubble?

>> i think that chart is a bubble right now. i think that overall price action but i do believe that it is going to be a real asset class and it is going to help replace or be substitute for currency much like gold or silver i think that it is a real viable asset class that is going to be used i don't own i wish i had bought some but at the end of the day i think it is a real currency to come into play, and many big investments are, in fact, many of the brokerage -- but family offices and advisors are putting their clients in bitcoin right now as a small investment so i see no reason to believe that it will not be a real asset class because it is a good way to transfer money without carrying it and you can get out of certain country like china and gold and put your bitcoin in your phone and walk out of the country so i think it is a real are asset. >> pay your bill in bitcoin? >> what he said about taking money out -- because it is anonymous. you've got it. you can put it on your cell phone.

walk out of china or any place else you want to go. that is an advantage. a lot of demand for it has to be coming from china that's or very interesting. >> and terrorist group and drug traffickers. terrorist groups, all wriewz it. >> go ahead, todd. >> they mine 80% of the bitcoin is mined in china. so with the coin is that if you have 100,000 of gold hard to uk whoa out of the country with that. a little bulky so you have 100,000 worth of bitcoin you can walk right out. >> raise the market of bitcoin there. i prnlly wouldn't touch it with a ten foot pole would you ash? >> no. >> you liz? >> no. >> john, thank you very much for being with us on a historic day when we hit and maintained 24,000 on the dow. thank you gentleman let's have another look at it why not? higher of 24,056 we're up a half percentage up 114 points 24,054 who would have thought. let's go to the floor of the new

york stocks exchange, give me the mood is it ewe forpoic nicole? >> they love it. they absolutely love it because you know that everyone 401(k) on the way up. they talk about someone walk by and gave me the overnight on the night of the election how we were in the 17,000 range. stocks very selling off it was doom and gloom then we finally got o the dow 18,000 miles stone and then one after another and quickly went 23,000 here's the new one everyone wants them 24,000 we've crossed that and we have all time highs from some of the u dow component boeing, jpmorgan united health, american express, and 3m all time highs thanks to our senior editor charlie for getting that out so fast but certainly a lot of excitement. a lot of it also on the tax plan we're going to see if we're going to have a little selling it fails. back to you. stuart: maybe all right i have to add one more number to it for everybody if it closes at ad

record high today, it would be the 80th record close since is the election of donald j. trump november the 8th of last year amazing nobody saw it coming. [laughter] good stuff. nicole thank you very much indeed. and here's another one on amazon, you know the alexa voice control that one -- maybe coming to an office not just your home no, they're going to put out an office version what do you got? >> they believe voice commuting in the work place is next big frontier for all of these -- devices -- and of course o amazon wants to get ahead of it all with alexa you'll be able to -- you know, you can say look book the conference room alexa, let's set up the meeting for you -- with blah blah blah, you know, the question is how compatible is this in the office amazon is baiting big that it will be and beat up alexa unit with the hiring hundreds of engineers because they are really pushing into the office space if you like with this device, and

interesting to see whether it, you know, takes on or not. >> what two themes of the show today 24,000 on the dow we've got that. the other one i'm very interested in this is there going to be a rebounding for big technology stock which has suffered mightily this week. can you put them on the screen please because i don't think we've got much of rebound we've shaved a lot of money, out of the big five, yesterday and the proceeding days of the week. we're not adding it back. look at this. facebook is up a become but at 176. amazon is way shy of 1200 per share and microsoft up a fraction and alphabet actually losing more ground now this. new jersey senator bob menendez taking a shot at the president over taxes. roll that tape. >> now, some have speculated it that this tax bill was designed to punish american who is lived so-called blue states and certainly i don't know, i wouldn't put it past an administration as cynical as this one to punish states who

voted against trump in the 016 election. >> some regulation now from one of the blue states congressman thom macarthur republican from new jersey, joining us now you're on the house tax writing committee. good morning, congressman. rng dporng. >> look. senator menendez says he wouldn't be surprised that this administration would take aim at new jersey and new york, and california and illinois. because they're basically run by democrats. and the administration will make you pay -- now you're a republican in new jersey. you're going pay a price for this too, aren't you? >> i think this bill is terrific for america and for new jersey and frankly i'm not interested in hearing lectures from bobmenen does about what's right and wrong in the federal government. honestly, i doubt he's even read our bill frankly. stuart: hold on a second congressman let's take new jersey. if you're a high income earner in new jersey you're paying high new jersey state taxes. but you can no longer deduct those high new jersey state taxes from your federal return.

bottom line, those high income earns are probably going to pay more if they live in new jersey and they will probably leave new jersey. concerned? >> i'm concerned about new jersey raising taxes that will drive people out of the state but stuart you have to look at the entire tax bill and yes, there's a change to the deductions because we're moving from are a high rate system with a lot of loophole it is that frankly favored the favored few, and we're moving to a lower rate system with less liewp loopholes i fought hard to get the property tax system restored successfully that's worth $3.6 a billion to new jersey residents so this is a good bill look at the rates are coming down. look at the doubling of the standard deduction the increase of the child tax credit, the addition of a new credit if you're taking care of an elderly parent and e religious of the alternative minimum tax by the way eliminated weament people ability to even claim their deductions.

look at all of it, this is just on the personal side this is a good bill for new jersey families. now, look at the business side and taxes are coming way down for new jersey businesses. and we have more businesses in our state than had most of other states around us. so this is a good bill for new jersey all of this noise is politics as usual arranged here. >> congressman tom macarthur republican from new jersey i'll put you firmly in the yes column. >> fighting for this bill i think it is good for us. stuart: thanks very much congressman appreciate you being here. back to the breaking news we brought to you about congressman john conyers says conyers has been admitted to the hospital for a stress related illness. do we have anything more? >> yes, a michigan political ally of conyers telling reporters look he's resting comfortably he says with his wife by his side in a hospital. he does say that he believes it is stress related. this comes, of course, after muts pl women have come forward saying that they have been

sexually harassed by conyers one of those women just hours before he was taken to the hospital came out with her allegations on one of the big national talk shows this morning on the "today" show. but we know that attorney he's 88 yearses old an attorney say he's going to fight the allegations of sexual misconduct because he stepped down from the house judiciary committee earlier this week. stuart: thanks very much ash. this could be a big break through in the fight against diabetes. medical startup sema raising $114 million to develop a new treatment for type one diabetes using stem cell to regulate blood sugar in a patient's body and rrnlg could lead to a cure for the the disease. next, if you're thinking about of buying bitcoin but don't quite understand it we have you covered all your bitcoin questions or o at least some of them will be answered after this. ♪

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stuart: bitcoin let's talk bitcoin shall we got to 11,000 per coin yesterday and prompghtly dropped all a the way down to 9,000 right now it is 9,700 i have question and guy from mashable chief correspondent lance is the man ho is going to tell me all of the answers here we go lance are you ready buzz you know this

stuff. okay. can i -- if i have a bitcoin can i convert it into real money dollars? >> 100% you can do it and go inside applications mobile lixes you can go and specify what bank account it is going to and it goes into as real money it can't go a credit card or debit card yet but yeah, in fact, people lander minnesota this way so it works. >> i didn't know that. it could get real dollars for my -- visual bitcoin. >> yeah you start by putting real money in so you're going to get real money out. >> good this is progress here i'm beginning to. now if you have bait coin can you buy things with it before you answer i don't understand how establish a price when it goes 2,000 in an hour what's the price? >> it is price at that moment it is really, and because it is all connected it is everything is within the same system it will know what price is what the central is of a bitcoin another that time as you're buying it but it can be a little bit crazy so you have your bit coin in

your wut and you're able to buy many weird things like guns like casket like subways, sandwiches, like stuff at a vegas shop but not gamble in vegas. so it's -- it's not everywhere it's not ubiquitous but many, many little things and sometimes very small prices. >> so the computer converts 11,000 bit bitcoin into a tiny fraction of a bitcoin instantaneously. >> once it is mined it is broken up into smaller denominations. >> i think and this is the last one i think this is a speculative bubble and i wouldn't touch it within a 10 foot pole. >> what i wrote at the precise mommy that it tanked like, i believe i did it. >> you do it -- >> i literally wrote that it is a bubble because i went historical record look back and say this looks familiar. remember tulip mania so basically -- people who don't understand anything about it think they have to be in it they start with

speculation and think they'll get rich really fast first of all i believe this bitcoin that it is a first world currency that may work in the long-term. but don't think about making a ton of money right up front don't think i'll put many money and take out a ton there's a few people ho will get rich but most people are not and most who don't get what's going on here will get confused and hurt but what is a bubble. i don't think bitcoin is going anywhere but don't jump in if you don't understand what's going on. >> you are pretty good at this. finally -- my questions are answered. thank you. >> glad i'm here for you. stuart: in all seriousness -- all right. yes, the dow did hit 24,000 and it is staying there least for now 24,'62 senate is debating the tax bill senator candidate told us earlier yes they have the 50 votes needed to pass this thing and up next wait for it. i'm going to agree with a headline in "the new york times." >> what? stuart: what a time to be alive.

we'll be back. . . . . nah. not gonna happen.

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stuart: "the new york times" has a head lane this morning which i agree. hmmm. gop tax plan could reshape life in the u.s. hold on. now, "the times" takes issue with many aspects of the tax plan. frankly, they don't like any of it. but the item that will indeed reshape our lives is this. ending the deduction for state and local taxes. this terrifies "the times" because in the big democrat states where taxes are very high local politicians, democrats all, will have a very hard time raising taxes in the future. and they really want to and need to raise taxes. new york, new jersey, california, especially illinois are all struggling to pay pensions to retired government workers. struggling, no. they are desperate. but if the tax deal does go through, middle and upper income

people in those states will be paying more to the federal treasury. there is no way they will accept higher taxes at the local level as well. and of course, history tells us when squeezed, rich people move, further depriving blue states of money they desperately need. that means, watch out. because those pensions can not be paid without further cuts to services like education and health. that is why "the times" says that tax plan will reshape life in the u.s. correction it, will reshape life in blue states with high taxes. it is actually a bonanza, a huge plus for texas and florida, and nevada, and any other state with low taxes. they will gain people, they will gain money. let's be clear. i and many of my colleagues will take a hit. you make good money in a high-taxed state and president trump's tax plan will hurt you financially even though you thought tax reform would put more money in your pocket, but i still support it. i want to see america return to

growth and prosperity. i want to introduce youngsters to a dynamic economy. they don't know what it means. they don't know what it feels like. that is what scares "the times.." the second hour of "varney & company" is about to begin. ♪ stuart: this is a very big day for your money. 24,000 on the dow. we got latest read on mortgage rates. emac. liz: down to 3.9 for the 30 year for last week's 3.92. five months down below 4%. freddie mac warning the rates will go up when the fed raises rates. u.s. gdp going up. u.s. existing home sales, median price, it has been up 68 straight months. now at high of 247-k for the median existing price for a home. ashley: lack of inventory.

that's why. stuart: you're right about it. ashley: there are not enough homes for sale. stuart: mortgage rates at 3.9%. liz: warning that rates will start to tick up. stuart: with a mortgage rate that is the 30-year fixed think. liz: that's correct. stuart: 3.90. we'll not add anything to that. six dow stocks hit all-time highs today in this overall big rally for the market. we've got boeing, home depot, jpmorgan, unitedhealth, american express, 3m, we'll gradually get them all on the screen, all of them hit all-time highs today. you don't see that very often. six of the big-name stocks record highs. then we have kroger grocery chain, reporting higher profits. even though they're cutting prices. they got better profits out of it. they're up 11%. retailer sears, they say they are going to specialize in specialty stores in the future,

selling just mattresses or appliances. they're changing their business model. i think accurate to say that market loves it. up 12% at $4 a share. ashley: 55 cents. stuart: barnes & noble, oh, dear. sales continue to decline. the stock is down 10%. here is the important story of the day, big tech stocks. huge losses earlier this week. major dip. not much of a rebound today. all five of them are up but that is not exactly a big buyback on the dip. i will ask that question throughout the day. is it time to buy the dip? why aren't more people doing it? but first back to my editorial on taxes at the top of the show. "new york times" headline reading, gop tax plan could reshape life in the u.s. tim phillips is with us. actually here in new york. he is with americans for prosperity. he is the president thereof. so, do awe agree with the "times" getting rid of deduction for state and local taxes will indeed change life in america in

the big blue states? >> hopefully it will cause the political leaders to stop raising taxes. stuart: i knew you would say that. >> if that is the change it brings, hallelujah. it is wrong for low-taxed states, we talk about it, to subsidize high-taxed states. low-taxed states are subsidizing states like california and they are more productive and prosperous for people that live in them. "the times" will miss that it brings dramatic long-term growth for this country. they missed that. stuart: they missed that. changes in big blue states, like new york, new jersey, california, they can raise taxes anymore. they have to pay the pensions. they will scrimp on education and health care locally. big change. >> interesting schumer, sanders, others defend the tax break, which benefits who? top four, 5% the most when they claim to want to be about the little guy. not true. stuart: stay there, tim. i have brian bemburg, professor

of business at kings college in new york city. i'm include to say that the types got it right where the big blue states are concerned, get rid of the deduction, all hell breaks loose. >> "the times" acts like the states have no choice. they lose the deduction, all hell will break loose. they do have a choice. why don't you cut your taxes? why not make the environment for people more attractive? the beauty of this, they are going to have to. they will not have a choice. either reform the taxes in these states, or your key earners leave. it is perfect. this is how you get policy change. stuart: get out of here, bren berg, are you kidding me? new york city, new york state, california, new jersey you see them cutting taxes? ashley: no. >> put them in a corner. only way it happens. stuart: i hope you're right. >> i do too. i live here. stuart: we hear you. stay there for a second. tim back to you, some senators,

republicans in the senate, they are concerned about the deficit and the debt if this tax deal goes through as is. are you concerned? >> two things. one we know what history says. kennedy cuts, reagan cuts, bush cuts, you raise revenue to the government when you lower rates. two, it is rich to see some politicians like bob corker who voted for every deficit-busting budget over the last six years, suddenly when it comes to a tax cut, stuart he is really worried about the deficit. i find that a bit disingenuous. i think in the end, we will be fine. we need to avoid triggers. imagine a short down-turn at some point. first thing you have automatic tax increase. disasterous idea. it removes uncertainty for business out there, employers who are trying to hire folks, to ramp up operations. they may be faced with a tax increase suddenly out of the blue under this trigger plan. i think they will resist it, come to the conclusion.

i believe this bill will pass this week. senate bill is not perfect but it's a good one. stuart: brian, back to you, does the debt increase dramatically if we increase debt. >> increase dramatically? the debt will increase $10 trillion. we're talking about a maybe another trillion. that is problem. it is rich "the new york times" talking about oh, no the debt is going to increase. guys, where were you last eight years? last eight years it gained momentum. deal with that by cutting spending and not talk about the trillion in tax cut debt that will promote economic growth. stuart: you're for it. you're for the tax deal? >> i am. i think republicans have to get serious about spending, they need to do that but i am for a pro-growth tax cut. stuart: talk about tinkering with the deal as it stand now. i heard a lot of pressure take some of the benefits away from big business, give it more to small business. would you be in favor of that tim?

>> they're working with the senate plan does that over the house plan. i think that is where the senate plan is superior. i think it's a mistake to inch corporate rate of back up. some senators already begun raising corporate rates 22, 23, to get some of their favorite programs. rubio-lee plan, amendment, bad idea. get the corporate rate low for everyone. not have government, well-intentioned picking winners and losers. not do that. get the rates down as low as possible for everybody. that is the best way to go. stuart: bren berg, brian, that is, would you like to see money shifted away from big business and more towards small business? >> i hate that we're pitting big business against small business. republicans have totally given into this line of thinking and it is very counterproductive. both help us out. both corporations and small business. give corporation as big tax cut. let's give small business as big tax cut. be pro-growth, stop playing inequality winner or loser game.

stuart: can you go back to a university in the united states of america and get a fair hearing? are you kidding me? tax cuts are good? show me that market please because this thing is still going really nicely, thank you very much indeed. 24,070. there you have it. we're up 130 points. up half a percentage point. brian, i say because of a variety of factors. one, new growth in the economy, 3.3%. two, record profit, really strong stuff. three, deregulation across loads of different industries. four the imminent tax cut. where am i going wrong? >> you're not going wrong anywhere. we have to keep going in that direction. we have to get more deregulation and tax cuts through. if we don't see those things we'll see the market stalling out. you're right, you can't stop right here to justify the valuations. >> i don't think the trump administration is getting credit

for the deregulation they're doing. not a wow, sexy moment. whether epa or myriad of alphabet organizations. they're cutting back regulations and letting businesses and entrepreneurs in this country flourish. that is happening. stuart: americans for prosperity president, you love this keep smiling, lad. >> tax cut done this week. stuart: tim, thank you very much, sir. appreciate it. now, brian you're staying. >> i have nowhere to go. stuart: you can't go back to the classroom, let me tell you. t. boone pickens, oil tyke con listing his ranch for $250 million. the price is steep. own airport, art gallery, 30 seat movie room. liberal lunacy on campus. one ivy league university letting students self-identify whichever ethnicity they want.

the elizabeth warren rule. that is a little sarcasm, varney. we're all over it. love it. "new york times" editorial board openly lobbying the tax bill, tweeting out phone numbers of republican senators. the president is not happy about it either. you are watching the second hour of "varney & company." ♪ 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.

stuart: big smiles. we must missed the high of the day. we were up 145. we're now up 134. we'll take it. 24,074. there you have it. opec agreed to extend production cuts through next year. that is only helping the price a little bit. we got bitcoin on the screen. we have it on the screen.

a lot of people ask us about bitcoin. since we happen to have a business professor on the show we'll ask him about it. here is my opinion, brian brenberg, flat-out. >> all right. stuart: bitcoin is speculative bubble that will end in tears? >> i agree with you short term. it is new asset class. we don't understand it. two, 99% of the people buying into bitcoin have no idea what they're buying. they're buying when prices go up. which means when bad news panic they get out more quickly. liz: is it robot currency run by algorithms in china. >> a grandma thinks she is buying a piece of a big coin. ashley: a bit of a coin. >> that is representative of people buying these things. i think long term cryptocurrencies have potential but not short term. liz: i want to pay my taxes in

bitcoin. stuart: people will be upset what i just said. libertarians like it. no central banks involved. get back to tax the i'm more comfortable there, please. president trump calling out democrat senator claire mccaskill while pushing tax cuts in missouri yesterday. oh, boy. >> senator claire mccaskill, have you ever heard of her? [booing] is doing you a tremendous disservice. she wants your taxes to go up. she is weak on crime. she is weak on boarders. she is weak on illegal immigration and she is weak on the military. other than that i think she is doing a fantastic job. stuart: just classic president trump. it is classic. joining us now, missouri congressman jason smith, who was there at the meeting with the president. mr. congressman, that doesn't seem like a very good way to get claire mccaskill on your side of the fence. you go after her like that. what say you? >> you know, stuart, the way to

get after and to get claire mccaskill on your side, go to her own state and talk to the people that elected president trump. you're looking at a state that this tax cutting jobs act will benefit very, very well. i represent an area where the median income, household is $40,000 a year. and under this plan, that president trump brought to missouri and was talking about back in august, and again, yesterday in st. charles, if your family of four making less than $55,000 a year, you will pay zero in tax this is something if senator mccaskill truly wants to help the people of missouri to unleash the economy, to increase their wages, she will support it. stuart: we'll see whether she votes yes or no. i don't think she would be the 50th yes vote, but she might be the 52 or 53 yes vote.

she is up for re-election next year. she has to do something on hold on a second, congressman. part of the debate for the tax cuts whether all the benefits go to the rich. senator orrin hatch has slammed the democrats for making that criticism of the tax bill. roll tape. >> that's always the claim of the democrats. it is a gift to the so-called rich. gosh, give me a break. i get so tired of that phony, lousy, argument that they make all the time. stuart: he doesn't hold back, does he, congressman? there is senator orrin hatch, phony, lousy, argument, rich get all the rich, et cetera. what is your take, sir? >> i represent a very poor area. missouri the median income is 45,000. my district is around who 40,000. if you're married, first 24,000 you will be taxed at zero percent. like i said, if you're a family of four, you will not pay a penny in taxes until you make more than 55,000.

so you're looking at folks of people of missouri that make $45,000. that is the low and middle class. i come from a family where my grandparents never even had running water. when you are talking about tax relief, this helps my people. i'm on the ways and means committee. i helped draft the ledgion. it is laughable when i hear at liberals look at talking points, possibly say this is only going to help the top 1%ers because this is helping southeast missouri, what a switch we've seen in politics. you represent a poor district and you're a republican pushing for growth in the economy. that is a revolution. thank you very much for joining us, congressman. we really appreciate you being here. >> stuart, always great to be with you. stuart: yes, sir, thank you. here is a headline for you. the robot economy is coming. one firm predicts it will displace hundreds of millions of workers that would be globally i'm sure. worldwide. liz: not anchors. stuart: not anchors. i'm real living flesh, baby. we'll be back. ashley: yes, you are.

♪

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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: i'm not sure all together either agree with this or believe it but there is a new report and it says robots could replace hundreds of millions of workers globally. okay, lizzie, a, who did the study? b, how many workers? c, in what time frame? d. which jobs are going? liz: mckinsey, by 2030, 800 million worldwide. if you're doctor, lawyer, teacher safe. broker, back office worker, factory worker you're probably toast. sorry to say that. stuart: sorry to talk on top of

you, fintech, financial technology, that will replace awful lot of people in the financial industry. that is kind of robotic. liz: can i make one i think, important point. robot revolution will make liberal lefties, crazy, why? with when you have more efficient factories, it lowers pollution, right? when you have robots in factories, lowers electricity usage, lowers pollution and wipes out union jobs. so there is something that the u.s. economy and economies around the world will have to deal with pretty rapidly. stuart: professor brenberg is with us. what is your take on this? >> we've seen this over the last 100 years anyway. not first time robots have not taken jobs of workers. technology always done this. two keys, economy has to grow, so workers have new places to work. you have to have education system retrains them. we don't have either of those right now why we need to fix both. you can deal with union workers

with growing economy and training for new jobs. both have to be fixed. that is what the gop is trying to do right now. stuart: that is a fair point. here is amazon, two or three amazon stories today and here is one of them. they want companies to use alexa in the office. that is the thing you talk to, say, hey alexa, what is the price of bread? and it tells you. they want to put it in the office. ashley: you can book conference rooms. set up lunch meetings. if they're all basically voice activated internet, amazon through alexa believes the future is. by, next three years they will have 128 million of these devices in the work place. that is the new frontier for all of these devices. stuart: i'm breaking in, ashley. i have a breaking news item, i think will help the market. on capitol hill, senate majority leader mitch mcconnell says he is optimistic about getting the votes to pass the bill. he says he sees the bill passing late today or tomorrow. dow is up 140. more after this.

♪ stuart: yeah. i thought it was rolling stones. it is not. of the. ashley: van morrison. stuart: upbeat music. dow industrials powering ahead. look at this, everybody, we're up 142 points. i do believe the market just liked what mitch mcconnell said. they will get the votes to pass the thing. they will vote late today or tomorrow. he is confident. the market likes it. how about those big tech names? i'm looking for a bounceback. they were really hit hard this week. not bouncing back that much. facebook back at 177. amazon, 1174. all of them are up but not that much. jack-in-the-box, there is a

name, i know it well, down 4% because sales are down. thought we would tell you that. reminds me of the doggie diner in san francisco. ashley: back in the day. stuart: back to taxes. debate is underway in the senate. our next guest is asking this question about tax reform. here it is. so what would jesus do? that is the title of dan henninger's piece in the "wall street journal" today. and he is right here. you're getting biblical on us, render under to caesar if i remember rightly. >> exactly and what is gods to god. i was watching in the tax debate, six senators holding out for high-risk pools, susan collins, can you imagine would jesus been able to complete his earth think mission if the 12 apostles been anything like these 52 republican senators? [laughter] he never would have made it to the end. he would have given up and gone back to galilee. stuart: you're saying the biblical expression is render

under to caesar, what is caesar's. that is what it was. >> i'm saying give jesus credit, render under caesar what is caesar's and to go, unto god. we have to decide between the state and what is best for welfare and spiritual, and daily life of the people. we're talking about tax revenue. how should we apportion it between the state and people? i think that is what is at stake in this tax bill. you know the left criticizes it all the time, democrats, tax cuts for corporations, right? tax cuts for the wealthy. proctor & gamble's a corporation. they employ about 95,000 people, johnson & johnson, maybe 120,000 people. i would say 90% of those people are getting paid by p&g and j&j, and all the other corporations in america to support middle class families, right? stuart: right. >> and the tax cut is intended to try to reduce the corporate tax rate from 35 to 20, reduce it for pass-throughs, immediate

expensing, get all the 2 or 3 trillion overseas, repatriate it back here so it can be invested in these businesses, expand them, hire more people, put pressure on wages and raise wages for these middle class families. that's what a corporate tax cut is all about. the democrats want to keep that money for caesar. i think the question is, will republicans finally get through all this rigmarole they're going through, pass this bill and get the capital investment flowing back to the american people. stuart: but isn't this just arm-twisting, sausage-making, horse-trading at very last minute which we can expect in our typical political system? it will go away. i'm convinced we'll get a deal. >> we're talking about this rubio-lee child care credit going up $2,000, refundable against social security. the prize is raising corporate rate from 20 to 22%. that's a bad deal. you want to do a tax credit like this, do it as entitlement through congress, just give

people money but don't use the tax code to undermine the rest of the bill. stuart: i guess you must be vigorously opposed to idea of the trigger, if we don't get enough revenue coming in from tax cuts, bingo, you raise taxes all over again in the future? you don't like that? you hate that? >> i don't like it. i hate it, but i don't think that is the biggest show-stopper here. because look, if you have six years out a trigger when the economy's weak, perhaps after six years of growth, do you think the senators sitting in the senate at that point are going to honor senator corker? he is gone. no, they will not raise taxes at that point. to make the numbers work out, that is probably is a deal they will have to do. stuart: give it to him. because it is meaningless? >> well, i think it is essentially -- i'm not minimize the importance of the deficit, but this is the wrong way to deal with it. stuart: dan, hold on a second. i have other stuff to deal with for a moment. congress wants to expose past harrassment settlements. judge napolitano is here. let me explain the question

here. there is suggestion that those non-disclosure agreements signed in the past be opened up in light of the new morality in sexual harrassment. >> non-disclosure agreements involving members of congress. stuart: members of congress, that's right. i don't see how that could be legally possible. you can't sign a legal deal and open it up. >> we haven't seen the documents that have been signed. we haven't seen the secret legislation that created the slush fund. but if they are standard, then the government can not interfere with those contracts. it can only bar them in the future. so, if congressman x, y, and see, i don't know who they are, received money to distribute to their victims and the whole thing was kept secret, pursuant to a contract between the federal government and the member of congress, federal government can't interfere with that. stuart: it would be a legal agreement wouldn't it, between the complainant, the abused woman, and the congressman? >> well the congressman has to

havesome protection from members of congress as well. again these documents have not been made public. i have to see them. if they are properly written they can not be interfered with by congress. they can only be barred in the future. stuart: you would agree with that? i'm not -- >> listen, i believe that the constitution means what it says. there is a clause in there says no money shall be spent but that publicly recorded in a journal. that has been, never hasn't been honored since world war two. we should know exactly how every dollar is being spent because it is taxpayer dollars. so of course i condemn the concept of these private settlements but once it is reduced to a contract, the government can not interfere with its own contracts. stuart: give me the constitutional quote again. you're so good at it. can you give it again? >> i like that necktie. no funds shall be paid from the public treasury but those which have been recorded in a public journal. stuart: you're good.

>> 1947. began with, we have new cia, we can't make this public. once they kept that secret, they started keeping all kinds of things secret, we know better than public does argument. stuart: 1947. >> yes. i wasn't around. stuart: neither was i, actually. i know you don't think it's a serious subject but i will broach it with you and dannyaway. >> okay. stuart: at brown university, that university will allow students to choose their ethnicity. >> that can be serious. brown is major recipient of federal funds. as a major recipient of federal funds, it runs into commitments, to keep accurate records of students who are here. if those records are knowingly and intentionally inaccurate for some social or cultural preference on the part of the student or the student's family, and brown is complicit in that, they will jeopardize the federal fund they received.

how is that for making a significant story? stuart: let's hear from dan henninger because i can't see how you can possibly walk into a university and as a caucasian, i'm black, therefore i qualify for affirmative action. you can not have that, can you? >> you can not have that. the judge is raising a very solid point here which is to say, these universities, as they become crazier and crazier and disconnect themselves from anything we ever recognize as -- i think at some.the government will state legislatures or the congress are going to step in and start withdrawing their funding. they are on thin ice with this stuff. and as far as what brown is doing is so ridiculous. i got a questionnaire in the mail from the new york jury system the other day asking me whether i was citizen, whether i could speak english and what my gender was. what if i said, i don't speak english, i squeak -- speak

swahili and i'm 18 years old because i think i am. because i want to be. next year i want i want to be 16. >> you didn't be prosecuted, filing knowingly false document with the government. this is similar thing what brown is authorizing, facilitates, i'm going to suggest, even suggesting. stuart: we spent a lot of time on this subject. worthwhile doing it i think. >> yes. yes. stuart: elizabeth warren story. let's be honest. >> brown is first. where is the rest of the ivy league? where is the london school of economics on this? stuart: don't ask. bad news for the apple watch. apple now trails fitbit and china's when it comes to wearable trackers.

fitbit and xiomai shipped merely a million units more than apple. thought you like to know. fitbit up only a tad on that news. new trend. upside down christmas trees. what? that is blasphemy. liz: i don't like it. stuart: flat-out wrong, isn't it? liz: stop that. >> looks like evil cult. stuart: yes it does, thank you, dan. stick around. target, home depot, walmart, they're carrying inverted artificial trees, reportedly running low on inventory. some go for 1000 bubbs. i have no idea why. ashley: just to be different. >> next thing you know the government will prohibit them. stuart: you will be on that, all right. "new york times," openly lobbying against tax bill, tweeting out phone numbers of republican senators. the president is not happy about that. we're on it next. ♪ building a website in under an hour is easy with gocentral...

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♪ ashley: does the tax plan give a fair shake to small businesses? some senators say no, and small

business administrator linda mcmahon says those businesses need all the help they can get. roll tape. >> if you want to know what small businesses want, get out and talk to them. that is what i've been doing. since last may i have been all over the country. i have actually been to 25 states. i've talked to more than 450 businesses, and without fail everyone of those businesses have said, look, let me have tax cuts. those tax cuts would be plowed back into my business. they're not talking about percentages. they're not talking about where things are going. what they want are those tax cuts so that they can put them back into their businesses. they say they will grow. they will hire more workers. stuart: is it accurate though.

stuart: breaking news indued of significance. ashley: secretary of state rex tillerson would be out by january to be replaced by one scenario, by mock pompeo, currently head of cia. under that scenario, arkansas senator tom cotton would take over the cia. there is another scenario talked about but seems much less likely, nikki haley from the u.n., ambassador from the u.n., have her become secretary of state. by all accounts, it seems that rex tillerson, who has been under fire as secretary of state, has been grumblings, he would be out. would be departing sometime in

january. most likely replacement would be mike pompeo. we understand that president trump is a big fan of mike pompeo who currently runs the cia. stuart: that is significant shift in the president's cabinet. that is the highest diplomatic position. ashley: yes. stuart: changing hands. tillerson out by january. that is the news. ashley: yes. stuart: look at the big board, at this moment it has not affected the stock market. it is very significant political news. i think the market is more likely to be reacting to what mitch mcconnell said earlier today. that is, a vote on tax cuts will come tonight or tomorrow and mr. mcconnell is pretty secure in getting 50 votes. john mccain we hear is still on the fence. asked moments ago when he will vote, he said, i will let you know. so the market holding at a gain of 130 points. holding above 24,000 even though we just got the news that rex tillerson, secretary of state, out come january of next year.

minor league story here. cvs reportedly nearing a deal to by aetna. that is not minor at all. that is pretty significant. 200 to $205 a share. those two stocks moving appropriately. "new york times" tweeted phone numbers of republicans on the fence on the tax bill, urging people to call and tell them to vote no. president trump is not happy. here is his tweet. the failing "new york times," the pipe organ for democrat party is virtual lobbiest for them regarding our massive tax cut bill. they are wrong so often now i know we have a win. katrina pierson with us, former spokesperson. react first of all to the news rex tillerson out according to fox news and various other sources, out in january. what do you say about this? >> well i think there has been a lot of speculation if you look at media reports over the last few months.

you know rex tillerson came in. a lot of people come in and stay for a year move on to other things. i think this will be natural progress. the president will appoint someone else. it will still go forward. stuart: isn't this a hit to the trump administration? he was the most senior cabinet member. and he's out. that's a hit, isn't it? >> i don't, i wouldn't call it a hit. i would just call it a transition. this administration is different from any of its predecessors, in fact, there is a big, broad agenda this president wants to accomplish. people have put him in the role to change many things. so i think a lot of transitions are going to be necessary. stuart: mike pompeo reportedly could be the guy that moves from the cia to the state department. of tom cotton, senator tom cotton, republican, may be the guy who moves to the cia is that correct? ashley: yes. stuart: this is quite a shuffle, katrina. you know, very hard to just dismiss this as business as usual in the trump administration. >> no, i don't think you should dismiss it at all.

this is breaking news. you probably know more than i do but i also know whomever takes this position or how the shuffle takes place the president is making the right decision, again he is 100% committed to his agenda to make america great again. stuart: okay. by the way, there is no impact on the stock market on that news which we broke four or five minutes ago. now we're up 145 points. that is the high of the day. so absolutely no reaction in the marketplace to this move in the president's cabinet. want to get back to the "new york times." i'm sure you saw what they are -- they're putting out be, publishing the phone numbers of republican senators, telling them, people, call them up and say no. the president's not happy about this. he calls the new york, did he call "the new york times" the pipe organ of the democrats? ashley: yes. stuart: i'm sure you agree with that, katrina. go ahead. >> oh, absolutely. seems every time this president continues to win the left and the left-leaning media tends to blur the lines across

electioneering, lobbying. we saw this with cnn during the election cycle itself. at what point are we going to step in say enough is enough. the president is absolutely right to say they violated their own social media policies not getting involved in partisan politics and pushing political views. that is even if the editorial board separates from the newsroom, stuart, if that is the case, they're behaving just like congress, making rules for everyone but themselves. if that is the case, they should be absolutely filing as lobbying firm. stuart: yes, but they're not going to. they are not going to change. maybe things will get worse, actually. what say you on that? >> well, they could get worse. they could get better but i do know the american people are definitely wising up to how the media is playing a negative role into trying to prevent this president from being successful. it is not going to happen. he continues to win. you keep talking about the market and optimism out there among the public. so the president is going to win. i do think it is also notable

that you do see the media outlets and journalists exposing themselves for the bias they have. stuart: katrina, thanks very much for being on the spot today with mr. tillerson. we appreciate it. >> thank you. stuart: there will be more dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes the moisture in your mouth. biotene definitely works. it makes patients so much happier. [heartbeat]

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ashley: turning out to be a big news day. breaking news. senator john mccain released a statement saying he will support the senate tax reform bill. a huge part of this debate, he says in that statement, that after careful thought and consideration i have decided to support the senate tax reform bill. i believe this legislation, he says, though far from perfect, would enhance american competitiveness, boost the economy and provide long overdue tax relief for middle class families. that is a huge plus of course, for senate republicans hoping to get this thing through. we heard from senate majority leader mitch mcconnell earlier that he was confident that they would get the votes, but liz, this is a big one. liz: john mccain was the wild card. you remember he spiked and put the death knell in skinny repeal of obamacare. ashley: right. liz: he could give cover to any other fence-sitters in the republican party. maybe democrats on tax cuts and tax reform. the vote-a-rama will begin today. maybe get a bill tomorrow. ashley: later today, possibly tomorrow. he also says in the statement there, i take seriously concerns

of some of my senate colleagues who raised about the impact of this bill on the deficit. but he says it is clear this bill's net effect on our economy would be positive. so there, that is a huge plus. ashley: that is a huge -- liz: plus for john mccain to say that. >> market moving up just a little bit more. now we're up 140 points on the dow industrials after that. after that i call it endorsement of the tax cut deal. ashley: another peas of the puzzle. stuart: well-said indeed. we're up 134, 135. there you have it, john mccain speaks. we're back in a second. big deal. 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.

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rally continues, remember, 18,000 on election day, just 13 months ago. the value of all stocks has gone up over $5.9 trillion. nobody forecast this, nobody saw it coming. democrats, farmers like paul krugman predicted a crash. politics is the answer specifically tax reform. the state of play, debate has begun in the senate, every republican we have spoken to says the senate has to get this done. why would mitch mcconnell schedule a vote if he were not pretty sure it would pass. mcconnell said he expects a vote tonight or tomorrow and more importantly john mccain moments ago said he is a yes vote on taxes.

tax cuts look very lightly. it is coming to a conclusion. after the obamacare debacle who would have thought we would be on the verge of the tax-cut win and after the shock of the election who would have thought the dow would be at 24,000 but that is where we are. thanks for following it with us. the third hour of "varney and company" is about to begin. ♪ let me deal with this, donald trump meeting with the crown prince of bahrain at the white house. if he says something during the photo op which he often does we will bring it to you immediately. check this out, the dow industrials up 171 points and rising, a sea of green on the left-hand side. the last few minutes, john mccain says he is a yes vote on

taxes. the market went straight up at that point. scott martin, asset management kind of guy, it was the mccain statement, yes on taxes, 180 points. >> with respect to standing in the way, that he is on board and looks like details are working out okay. i'm disappointed on the individual side, whatever you call it on the business side, the money that is repatriated when it comes back from being overseas, a great thing for the stock market and your 401(k). stuart: do you think we might hit 25,000 fairly soon. don't want to get too carried away, and 23,000 to 24,000 if it takes a few months to go to

25,000 is that in the cards? >> absolutely and it is fun getting carried away. reminds me of the time we were together, i miss being onset with you. in september we were talking about passing the tax reform and doubt 205k is definitely a possibility, we see 25 k pretty easily and with a little bit of luck, a couple good pieces of economic data, we will see doubt 205k. stuart: it is november 30th, december 1st tomorrow, 31 days in december. seriously? >> how funny about these numbers, isn't what it once was, and doesn't take much work

anymore. the momentum is back and the tax her from going through. stuart: the big technology companies took a big hit this year and the days preceding. would you buy on the dip, a lot of people are buying on the dip and in the past it works, stocks of going back up. are you buying the big text today? >> it would be. if they missed the run-up we talked about, you are got to take these opportunities like necessary, there is a watershed event and because they are a big part of your life, they are a bigger part going forward, the earnings power of tech stock companies are off the charts. if you don't have any before earnings kick in. stuart: i have one minute left, looking at sears.

the stock is rallying because in the future, focus on specialty stores, appliances, mattresses, specialty areas, would you back? what you by sears stock at $4 a share? >> we don't look at stuff that is down in those areas, as an investor, things are so ugly that stocks look pretty again and another stock that is starting to get there. ge is so bad it starts looking good. we see that with kroger, grocery stores and produce and i think of the onions, a kroger or costco, and those companies, those stocks got so bad they started to look good and what happened if you bought into

those in the summer. stuart: 20 seconds left. is bit coin a bubble and would you touch it with a 10 foot pole? >> i wouldn't touch it with the money you put in people's express stock. i will tell you it eventually, bit coin is going to come to life, i worry about the liquidity of them, the current valuation. once you get more etf ownership of them, once you get these futures that will be traded in chicago, once liquidity picks up and true valuation you put it in your portfolio. stuart: appreciate you being here. you are up 181 points, the highest today, this stuff is indeed exciting. politics very important, senator john mccain says he is a yes on tax reform. were you surprised at that? them anything, yes. >> i am surprised.

it is almost certain we will get a bill. i had been skeptical as you know but now i the republicans have come together, the devil is in the details but it is going to get done. stuart: this could open the floodgates, couldn't it? if you do get 51, 52 republican votes, then some democrats will join in including claire mccaskill. however, i want to show you how donald trump in missouri addressed the issue of claire mccaskill, the democrat from missouri. role that tape. >> senator claire mccaskill, have you ever heard of her? is doing you a tremendous disservice, she wants your taxes to go up, she is weak on crime, she is weak on borders, she is week on illegal immigration, and we can the military and other than that doing a fantastic job.

stuart: i said before and said again that is classic trump, is that how you get where mccaskill. >> i would have tried to kill her with kindness, should come on board in a bill in the president's term continue to strengthen economic growth and enhance investment and lower the rates and middle-class missouri. >> let me put it to you this way, the tax bill is looking a lot better now than it did a day or two ago but substantively politically. stuart: i have to repeat my question, are you going to leave new york city, this tax bill will kill you. are you leaving? >> i'm going there at christmas, that is -- address

myself and my family. it is actively on the table, the non-deductibility of state and local taxes, those in high tax states is an onerous. stuart: a disaster for you, new york state, new york city, new jersey, might cut taxes, and rich people will leave in droves. >> plenty of people a lot richer than i, who have already left and continue to hasten their departure because of this legislation. stuart: we have a studio in miami. >> as long as they keep me on. stuart: democrat exiled from new york city. bill clinton's accusers stormed senator out franken's office demanding that he resign.

i will tell you the outcome. so franken still has his job, matt lauer is out at nbc, 72 hours after an allegation from a coworker. is there a double standard here? if you are in the media, you transgress, you are out. if you are in politics you can stay, double standard? also this hour, speaker paul ryan will address the taxpayer-funded slush fund that pays out settlements for congressional sexual harassment lawsuits. we have a jampacked hour ahead. bret baer, monica crowley, grover norquist, stay right there please. ♪

stuart: before we do this look at the dow jones average. almost at the high of the day,

174, 175 points, will over 24,100. john mccain says he is a yes on tax cuts was another breaking story, rex tillerson expected to depart as secretary of state in january. possible replacement current cia director mike pumpeoh. this is something of a bombshell certainly to me, a big shakeup in the trump cabinet. >> every presidential administration has turnover in this particular one even though it is a very important job but this one was long anticipated because there was a big personality clash between the secretary of state and the president was more importantly they were at odds over a range of important -- stuart: are you downplaying this? this is huge. the most important guy in the entire cabinet, the senior diplomat. he has lasted about one year. >> actual turnover, a number of

people in this administration. >> no one to replace secretary tillerson, the word is the cia director has been an extraordinary ally to this president on a range of issues, not just security and intelligence but domestic issues, he is a trusted advisor and i think he will be superb in that position. stuart: i will stay on foreign-policy, seems to me we are coming to the position where we have to accept, put up and set up with north korea nuclear power or do something about it. we are coming very close to that choice. >> north korea is a nuclear power, the question is they are developing intercontinental ballistic missiles to deliver those weapons.

do we live with a nuclear armed north korea has the capability to deliver those weapons to the us or our allies or not? are you held hostage by nuclear blackmail? i know how that president is answering the question, absolutely not. he ran on this and continues to make statements that under his watch, north korea will not be allowed to move forward. that is going to require military action because we had presidents on both sides starting from the atrocious 1994 deal under bill clinton to allow north korea to proceed in its nuclear direction. this ends on my watch, there are no good military options but sanctions haven't worked, that is the most sanctioned regime on the face of the earth, has not worked and leaning on the chinese at least to this point has not worked. this administration has or is in the process of exhausting every other option, the only one left on the table unfortunately is military and this is going to be a very

messy situation but one that will be required because if you don't deal with this threat now you have to do with it later once you lost the advantage. better to deal with it now. stuart: i have got to move on, several stories happening here. i want this story, we saw clinton, bill clinton's accusers stormed the office of out franken. what happened? liz: wanita broderick, kathleen willey, storm the office of out franken, left when the police arrived, said we demand the resignation of our franken and john conyers, they are not sorry, their apologies are weak for sexual harassment, the only reason they apologizes because they were caught and also ask for the secret slush fund to pay for sexual harassment claims and other claims of violations by congressmen and stop the pension of bill clinton. why should taxpayers, they are tired of paying his pension

given the accusations leveled against him. stuart: coming thick and fast, breaking news, we are learning now that russell simmons has stepped down from his companies after his new sexual assault allegations. that gentleman on the screen stepped down. listen to this one. nancy pelosi just said in her weekly news conference that congressman conyers should resign. very different from what she said just two days ago. your reaction. >> long past due. we are in a cultural moment where these individuals who have been accused, i understand due process and i support due process but in this environment given the range of accusations and the number of accusations against john conyers this is long overdue. by the way, private companies have swooped in with dispatch and immediately investigate and remove the individual.

matt lauer, a range of individuals in the private sector, do an investigation and when the person has proven to be problematic they are gone. in the public sector it is a different ballgame. i argue it should be the reverse because these are so-called public servants paid for by our hard-earned tax dollars, they should not be protected, they should be removed faster than people in the private sector. stuart: i am waiting for tape from donald trump who is meeting with the crown prince of bahrain. we are getting a little tape coming at us 30 seconds away. let me draw your attention to a next ordinary developing story which is the stock market, you take off 20 minutes ago, took off from "the opening bell," 20 minutes ago john mccain said he is a yes on tax cut, up goes the market, 24,136. let's take you to the white

house, donald trump making a statement after visiting bahrain. >> thank you, it is my honor to have the crown prince of bahrain, doing a lot of business, $9 billion thrown about, a very nice trip and appreciate it, a great relationship, they have been and you have been a great friend and appreciate it very much. >> great honor to be here. an important trip for us, a relationship between the kingdom of bahrain and the united states of america. people of both countries have

benefited from this relationship, and thank you for honoring me with that meeting. >> rex to listen on the job? >> rex is here. thank you very much, everybody, thank you. stuart: chaotic at the end, shouted questions, one of which we is where is rex tillerson, secretary of state of the president said rex is here. >> not exactly -- stuart: the news is out the man is moving. >> i have seen both sides want this, the secretary of state is ready to leave in the president is ready for him to go. this is not happening in an environment of acrimony and the president of the president needs the cabinet that he

wants. they have been at odds over the iran deal, they have been at odds over confrontation with north korea, and they have not seen eye to eye. secretary of state believes in his agenda and will carry it out with equal vigor and passion. stuart: thank you. the breaking news is happening all over, great show, look at the markets, up 190 points. mitch mcconnell, kind of got the ball rolling by saying there will be a big vote, got 50 votes and mccain says yes. liz: an enormous boost. ashley: 25,000 by next tuesday. stuart: i am going to change the subject once we digest what

is happening, the most expensive car sale ever in the history of new york and an auction expected to bring $50 million. gary, the car owned by apple steve jobs. >> what is the apple stock, in 2000 the company was launching the ipod, bmw designed by your friend on the show the other day, these cost $130,000 when they renew going $160,000 now, this one will sell closer to 400,000, you also get the motorola flip phone that came with. rumor has it steve jobs hated that phone and may have been the inspiration for the iphone. not as high-tech as an iphone but it was cutting edge. this is one of the newer cars, $50 million worth of cars here, incredible classics, ferrari,

aston martin, this jaguar over here you might have a soft spot for this one, 1966 jaguar, worth $325,000, not just cars here but one very interesting piece of memorabilia. the racing suit steve mcqueen war, this sold for $1 million and the car he drove in that film sold for $14 million earlier this year, they would make a nice package but wouldn't be worth as much. it is the 1959 ferrari wheelbase california spider, the price tag is as long as the name of the car, they expect this thing to go up to $17 million, it is one of eight that were sold and made with an aluminum body and a historic event a couple years ago, they think the person who buys this

will put it on the track to see what it can do. $17 million. stuart: that was fascinating and i bought a jaguar in 1971, lost my shirt, never get the thing to work, thank you very much indeed. breaking news coming fast at us. any minutes been -- speaker ryan taking to the podium momentarily, i don't know what he has got to say but if he says something big you will hear it. the market at the high of the day, up 187 points, john mccain says yes on taxes. a big day for your money and we are all over it, back in a second. ♪

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high, dow 30 showing all of them in the green, the dow is up 177 points. right at "the opening bell" we hit 24,000. now with 24,118. staying on tax reform, look who is here for grover norquist, americans for tax reform president, the big news, in my opinion, john mccain says yes. i think that is huge. what say you? >> came over, it is done. john mccain is a committed yes which makes a lot of sense but didn't know how he was going to vote and he holds his cards close to the vest and he voted against the 2001 tax-cut under bush and the 2003 tax-cut under bush, fixing obamacare, this commitment to vote yes is a tremendous step forward, there is no combination, the dow

stops, only two questions. will there be one or two republicans who don't vote for it, not enough to stop it and they will be on sunday shows this weekend, they want to play that game, somebody might. now that we have 50 votes, maybe 52, some people think we have them all, how many deeds are scared enough of their voters, more scared of their voters than they are of schumer and want to vote yes? stuart: as soon as you get 50 yes vote in the senate i assume you do, it is the claire mccaskills of the world, the joe mentioneds of the world who say we are not the person who put it over the line but we are for it, bipartisan. you think that could happen? >> it could. there are four or five that aren't coming back, we going to the next election not only with

deregulation success, but a fundamental rewrite of the tax code and it is progrowth and going to create jobs and ending the obamacare mandate which is a good chunk of the problem with obamacare, it was mandatory and they punished you, they beat you until they go where you want them to go. we take away the taxes -- stuart: hold on a second, for the benefit of viewers who may be joining us and have not seen or heard what john mccain said, i want to read the statement, after careful thought and consideration i have decided to support the senate tax reform bill. this legislation though far from perfect would enhance american competitiveness, boost the economy and provide long-overdue tax relief, that is a great big yes, isn't it? >> it looks good or better, i am waiting to see, that is a

commitment and he knows what he is doing. he is going to be on tv for being the guy who put it over the top, not on tv for being the guy saying it. i am very pleased he is going to do that. when he ran for reelection he committed a pledge not to raise taxes, he knows this is important to arizona voters. stuart: i can tell when you are happy, you're happy as a clam. >> wire clams happy? stuart: just an expression i picked up in america. you are all right, see you again soon. now who is with me now? david is sitting next to me. i will put him on the air. you are with the treasury. you are now. you just heard what john mccain said. the man is a yes. in other words are we now

absolutely home free with tax cuts going through the senate? >> i think so which is great news and grover said it, jobs are critical part of the stand the lower corporate rate is going to be good for the economy along with other provisions. stuart: do we want to go to mister ryan who is talking tax reform, do we want to go to him? let's see what he says. >> we are providing a significant tax relief for them, that is the purpose of this. to help people living paycheck to paycheck not only keep more of their money in the first place but to help them make more money and good better paying jobs. tax reform is going to make a big difference for americans in all walks of life, looking forward to the senate taking action on their bill, we are enthused and excited there on the floor working on tax reform. once they do as the majority indicated yesterday we will move to go to conference committee as soon as possible.

questions. >> can you guarantee -- >> marion brown, is that her name? i heard what she said this morning at nbc. no one should have to go through something like that let alone here in congress which i think he should resign immediately. i have been briefed on the torrent of allegations, your second question on tax reform, i am not in the guarantee business because i can only control this side of the capital. i'm very confident we can get this done this year. >> fundraising -- how long do you think it will be? >> it would be nice if they show up to meetings, that our democratic leadership

counterparts participate in the negotiations necessary not just to keep the government open but had an agreement, i don't know why they decided not to show up for these negotiations. when you negotiate legislation congress passes a bill, the president signed it and that is why congress and presidents negotiate legislation. i did it when bush was president and when obama was president, donald trump is our president people should show up for negotiations. i am getting there. when they decide not to participate in negotiations they are hardly in a good place to make any demand i would say but we are going to obviously have a short-term, that the ration of ocr, in talks with our own members and having a conference for members to go through that so stay tuned on that. i would also like to point out the fact the house has passed all the appropriations bills, in september. we in the house, for the first time since 2004 as a republican

majority, all appropriation bills on the fiscal year deadline, the senate can filibuster those things. we will pass a short-term cr to keep the government open, keep talks going, hopefully people will decide to participate in these talks and if senate democrats filibuster that they will have chosen to shut the government down, something we do not want to see happen. stuart: i want to leave mister ryan briefly. treasury undersecretary is with me on and i am looking at a stock market going straight through the roof, 182 points because the market expects significant growth next year. what kind of growth rate are you predicting? >> the market looks ahead, for the third quarter, more than

that, as businesses invest more, they buy machines, hire workers, and the economy going. >> on january 1, 100%. >> the cash flow we need to buy another machine so rather than the activity, assuming they are market-based, they make good choices, we get a lot of people hired on that activity, small businesses get into the game, they have been left out of a lot of this expansion, haven't been getting the credit, overregulated, back in the game and do a lot of the hiring of people that are not on the labor force so one of the goals is to get the participation rate higher for the economy. stuart: what i be right in saying everyone who pays federal income tax, almost everyone who pays federal

income tax in january next year will see a higher paycheck. is that accurate? >> arguing on this, those numbers are floating out. what i can say is almost everyone is going to be better off because the economy was stronger. that makes it safer, that makes us able to create skills within the labor force they need to get ahead so that is assured as you get a better tax code. stuart: if you get rid of state and local tax deduction and it is going, people like you, you live in connecticut, people like me live in new jersey, california, illinois, they will end up paying more. >> high income people will. i don't live in connecticut. people who itemize, only a few

people, when standard deduction goes up, and high income levels, a high-tech state. this is what we should be doing and helps pay for the lower rates elsewhere in the tax code. stuart: you work for the treasury, backup the plan no matter what, thank you for joining us, a hot news day. we will take a short break. after the break we have news from paul ryan's statement - will have it, back in a second. think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp

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stuart: you may have seen paul ryan making a statement moments ago. ashley: the aspects of the senate. and in conference committee getting the house and senate bill, figure it out but he did say i am confident i will get this done before the end of the

year. stuart: gather it all together, breaking news on the tax-cut deal, most important, john mccain says unequivocally he is a yes vote on tax cuts, that helped the market today. rex tillerson, a couple reports, new york times, ap, fox news saying he is out as secretary of state in january of next year to be replaced by cia guy mike pompeo but when asked about this at the white house a few minute ago donald trump said rex is here, still working. what i have got on the left-hand side of the screen, radio listeners, up 190 points, 20,133, 200 today, up 100 yesterday. 500 points so far this week. tax cuts are what it is all

about. if we get this tax code. and the tax-cut deal, and shaping out, it is bad for housing, new york, new jersey, illinois, california, very good for housing in low tax states like florida, texas and your state, nevada. >> a lot of people moving over here. throw it back to the states, and what it looks like, it is fantastic, absolutely fantastic. stuart: what about the state of the real estate market? in nevada, florida and texas you get a lot of upper income

people fleeing new york, new jersey and california coming to your state, influx of people, wealthy people, what is that going to do for the high end part of the real estate market? >> a lot of developers on the phone right now buying real estate in las vegas, in order to build some luxury homes, a natural byproduct when you hear these things, you see what the market is doing, you get this done, those people in financial position in these areas will be affected, it will have second homes and primary residents and nfl players in las vegas make a primary resident because of taxes, property taxes very low for the homes -- a byproduct for states like nevada is fantastic. stuart: a football team coming to las vegas? >> i am from pittsburgh so, no.

the steelers never liked the oakland raiders but we have over the years a lot of nfl players that live in las vegas and make it their primary residence was a great area called mcdonald ranch. a lot of players live out there, 7 islands, beautiful area, luxury homes, they have the money to do it and make their primary residence. stuart: i can say bob massey, property man is a very happy camper. >> i'm so pumped up over this. i feel like honestly the last eight years, i don't say it in a disrespectful fashion, just from the people i have known in business fell their shoulders were pushed down and they had no, the regulations were overbearing, today's news god willing it happens, god bless john mccain, if it happens it is going to -- the attitude and country and movement of business is going to be wonderful all over the country and people have to sit back including the democrats and understand that in fact it will

create jobs. stuart: bob massey, you are all right, thanks for joining us, perfect timing, well done, thanks a lot. friday, a:30 eastern time on the foxbusiness network the property man, bob massey is the property man, great show, great stuff. more varney after this. ♪

stuart: a second ago we were up 200 points, up 196 points, we started this morning, the market opens at 9:30 eastern time, we immediately had 24,000 and powered up from there. mitch mcconnell said it is likely we will have a vote today or tomorrow, and at that point, we had senator john mccain, the icing on the cake so to speak, john mccain came out as yes on tax cuts. people on this program say when

mccain said that it is almost certain we get a tax deal out of the senate, do you agree? >> i do. there are a couple senators in different stages of maybe but it seems the gop is hurting the cats to 50 and when that happens, there was pressure on these moderate democrats, up for reelection in 2018, joe mention, joe donnelly from indiana, they have voted no on even starting to talk about tax reform. if they see the gop coalescing behind a yes vote you might get some democrats released by chuck schumer to vote for tax reform. stuart: you think chuck schumer would release some of his senate democrats? would he do that? >> if it is going to pass, they

are on the edge, i think it is tough for them to go back to their states and make the play they voted against even talking about. stuart: i am sure you saw it when donald trump was speaking in missouri, he kind of not went after her but made a big deal out of it, how she was bad on immigration, bad on crime, that was quite a way to try to get her on your side. it was classic trump. >> he was in campaign form. he is very comfortable in that atmosphere. he does have some leverage in those states in particular and if you win 70% or 80% of the counties in the state, some of those places will be tough with some of those democrats. stuart: the writing is on the wall, the market is up 200

points and we get a tax deal. your book is out in paperback. i want everybody to know i did read it, it is called three days in january, dwight eisenhower's final mission, i am not a book analyst, i read it very quickly. tell our viewers what was the final eisenhower mission? >> the final vision was to give a farewell address that was overlooked. if you look at it, the military-industrial complex, there is so much in there, how he threw his life gets the final farewell address, using eisenhower looking back at him he is number 5, the greatest presidents of all time according to historians, moved up two spots this year, the paperback came out this week, has a new beginning and the new end and a new forward and it has been a lot of fun. stuart: you are a great writer. may i digress for one second?

one of the great things about your show special report, when you do the panel discussion you do not like anyone to talk on top of anyone else. we love it, viewers love it and you know that. >> that is right. everybody hears yelling all day long. stuart: congratulations on the book, we will be watching tonight, thanks for joining us. there will be promise, more varney after this. ♪ ♪ if you want to say no ♪ [vo] when it comes to investing, 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.

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♪i'm living that yacht life, life, life top speed fifty knots life on the caribbean seas it's a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany♪ ♪watch this don't get mad (bell mnemonic) get e*trade and get invested stuart: market is up 201 points. we found another reason why it is going up, liz of. liz: liz says the corporate tax cut is only 20 to 40% priced in. if you see this pass we will get a big leg up. ashley: mr. mccain came out of blew to support this.

senate gets deal done. house and senate together. maybe by end of the year. stuart: 24,000 at the open. 24,100 now, up 200 points. neil, it's yours, sir. neil: thank you very, very much, stuart. we're following that as well. the dow over 203 points higher. this could be a very swift march to 25,000 at rate we're going. 30 days to cross the 24,000 level from 23,000. this is as stuart has been telling you the sixth time we've seen this sort of thing. 1000 point milestone, just wiped out in the course of ever going back to the trump election, a little bit more than a year ago. fifth time it has happened of the presidency. this has been -- a lot spurred on by one john mccain, said with some recent -- reservation es we will support the tax bill. we're looking m