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 mitch mcconnell looking to get a vote on this.

could come as soon as tonight. could come tomorrow. regardless what happens, we are live this weekend on the fallout from all of this, pause what we love to be live. just let you know, 10:00 a.m., to noon, eastern time on saturday. the fallout from all of this. they could have a vote for a tax cut by then. "daily caller" news foundation chris bedford, what he makes of this. chris, very important obviously to get john mccain to be a yes. beats a no. but doesn't mean that susan collins has any less reservations or host of other senators, have any fewer problems, right? i mean, how does this change things? >> there are still a couple holdouts. john mccain being on board backs up some of the bullish people. i've been really surprised given the republican party failures that there are so many bullish people. white house is excited, senate is excited and outside groups are. collins is coming out with announcement. shy is leaning positive. lankford said he would support

it. corker had same problems corker did, adds to the deficit. they're trying to add a provision, automatic tax cuts come in if the deficit rises too high. that will get more conservatives pushing back. neil: tax hikes, excuse me. >> tax hikes. neil: excuse me. neil: that seems asinine to me. what if it has to do with economic cycles or recession taking hold nothing to do with tax breaks, we have a recession or slowdown we hike taxes to make the numbers balance out which compound the slowdown? >> not making sense. a lot of people who are deficit hawks, they're being disingenuous about it, we all know entitlements are -- neil: cut spending. >> you have to cut spending. u.s. economy, republicans basically held as the bible since ronald reagan, say unleashing the u.s. economy we'll lower deficit, this gets things going. tax hikes don't help this. if republicans he believe that, hard to see they would follow

this some republicans like senator kennedy in louisiana, he would have to be drunk to vote for something include automatic tax hike. neil: some have in the past, you know. we'll see what happens, chris, thank you very much. another peak at the dow. a lot spurred on by the talk that tax cuts coming closer to reality. we saw proof couple days ago, when it got out of the republican committee, every single republican voted for it that proved pretty much without a doubt that tax cuts are a big reason why this market has been moving fast and furiously as it has. oil prices moving up that benefit likes of exxonmobil and chevron, by far the biggest single do you contributor is goldman sachs, expected to benefit obviously at more promising market environment we are told. how do i know that? because goldman sachs predicted it. goldman sachs could be beneficiary of its own market forecast. let's go to my buddy charlie gasparino. "wall street journal" james freeman is here. conservative review deneen

borelli. dineen, begin with you, end with you, that the tax cuts are the great economic elixir, what do you think? >> debate around tax cuts and tax reform has sent the market up. it has been up six times with the dow over 24,000. gdp over 3% as well. so just a conversation about it. but it is all about the certainty with the market. businesses will know where we stand, where the country stand when it comes to taxes. they will know how to plan in the future. to reinvest, grow their business. neil: how do they feel baked into this was a feature that raises taxes. >> bad idea. neil: not a good thing to plan on. >> bad idea. you mentioned if there is recession. what if north korea does something bonehead that would have effect on economy that. >> is economic term, boneheaded. >> thanks. neil: james, your fine paper mentioned something interesting i hadn't even thought about.

this idea in order to get votes yea, they're making allowances for every member. marco rubio among them this, idea of a higher child tax credit. he already got it lifted from 1000 to north of $1600 per child. wants to get higher, 2,000. could go still higher for people that don't pay income taxes, all in the name of get a yea. >> i think when you get into handouts essentially to people who don't pay taxes you have moved it from tax bill to something else. neil: i don't argue, we always sound let them eat cake. they pay payroll taxes i understand that i like what the journal was saying, work to lower the payroll tax. >> yeah. that is an option. but the point of all this is to grow the economy to get people more jobs, higher wages. neil: do you think it will do that? >> will do that on the corporate side. cutting rate to 20%. neil: it might be 22%. >> it should be the 20.

that is the real growth driver here. you called it asinine the idea of a trigger to raise taxes. boneheaded, asinine, whatever economic terms. this is issue, finally we have a consensus in the economic community on the right and the left. everyone agrees it is asinine to put in automatic tax hikes. everyone agrees whether from keynesian perspective or more of a free market perspective, if you're in a recession you don't want automatic tax hikes. we have triggers. every two years, people vote, choose a congress. neil: that is your trigger. >> they can change the law. if they don't think the policy not working change the lawmakers if they won't change the law. no need for a further trigger, all that will do as dineen said, dim investment. neil: markets can melt down, melt up. a lot of people characterize now as melt-up. we always like melt-up. worry that i have is, we i know

i will sound like neil is carping on it, nothing to do with politics is this an overreaction? i understand goldman, other firms said, tax cuts go into effect, multiples change, market looks -- i don't doubt that for a second. i am wondering whether the run-up is too. after run-up? >> i would say this. i don't think so. doesn't mean there won't be a pullback. i have always been advocate took the corporate tax rate down to 20% -- neil: what if it is 22? >> i don't think that is big of a difference. neil: i'm sorry to badger you on that. reason i keep mentioning it, that is the growing talk that extra one or 2% will pay for a lot of things. >> i'll tell you what i believe. if it is 22, if -- not saying markets won't correct, they will. we should point out stock traders are stupid. just remember that. because i was on old bond guy. neil: what about millenial stock traders? >> they're the worst. i was taught that, because i covered bond market.

stock traders trade off of headlines. what we have more or less algorithms trading off headlines. remember this is not people putting a lot of thought into this. let's gameplan this. take the corporate tax rate down to 22%. on top of that the deregulatory again today the trump administration, i'm telling you it's a stealth tax cut. it is not obvious but every ceo i talk to says we do better when the government isn't looking to break our chops or put news jail or do consent decrease. you have that, you have the makings of very good macroeconomic environment for company's earnings. neil: you're in the camp, your doubts notwithstanding about individuals -- >> that's horrible. that's a joke. neil: you're not saying just from your vantage point as new yorker paying all the taxes? >> yeah. neil: but the corporate thing compensates? >> i said it on "your world" maybe our or five months ago. neil: yes, you did. >> this market is driven by one

thing and one thing only, getting the corporate tax rate down. it is such a huge driver, potential driver of earnings. neil: yeah. >> earnings have to catch up. neil: because tax cuts take time, what about we don't feel it or voters don't feel it in november of next year and they feel that therapy net pay isn't that different, to charlie's point for individuals, it is not the same, they're not going to be impressed? >> i would say look what happened the last eight years under former president obama. slow gdp, stagnant wages. so compare the eight years to, you said a year, hopefully it won't take that long but i going in the right direction. neil: the last year without

these -- >> she makes a good point, neil. the market is trading off optimism. i love the corporate tax rate at 20%. but if you look at the individual side it is just, i almost said an s-show. it is so inane. >> that is another -- neil: boneheaded is politically correct. >> think about what they're doing, cutting income taxes for people who don't really pay a lot of income tax. if you want to give the middle class a tax cut cut the payroll tax. we talked talked about that forg time. raising taxes on a lot of wealth creators, they spend money do a lot of stuff for this economy to pay for a corporate tax. neil: we don't know what is in the final product. >> right now. neil: one of the other things they raised the stop rate stays at 39.6% in the house, would be 38.5 in the senate. >> right. neil: maybe they would agree to do something on the writeoffs for taxes and state and local taxes. i think that is unlikely. what do you think they're cobbling together to get everybody on board? >> well they might end up with

some state and local property tax reduction. we'll see. it is not, the definitely the subsidy for state and local taxes is going to come down in a big way. neil: right. for wealthy guys like gaspo it's gone. >>ite's gone. neil: he is downsizing to the olive garden. >> you get rid of amt. >> amt is going away. neil: then you go higher than olive garden. >> i can get the free -- neil: sorry, james. i am never, never doing this show again. go ahead, james. you were making an astute point. >> i do care about charlie's tax bill. i care about everybody's but i just want to emphasize the importance of not saying, oh, 20, why not 21, 22, 23? 20, you recall, the original plan was 15. neil: that's right. >> ireland is 12 1/2. they went to 20, just to finish a point, one second, when you count state and local taxes, 20

only gets us to mediocrity i. it takes us to the world average. >> not with deduction. >> yes. >> are you getting rid of deduction. >> talking about rates, charlie. if you go up from 20% you move to worse than average. worse than mediocrity. neil: i agree with you but they're moving us. >> average tax rate is 27%. >> talking about effective rate. >> yes. >> what will effective rate be put it to 22? >> the point is it is going up. going from 20 to 22. so your effective rate is still going to be mid to high -- >> it will be 20. if your nominal -- neil: not a big deal for you if it goes up to 22? >> depends on the deductions. neil: i understand. bottom line you could live wit. james you could not. >> effective rate a higher than lot of competitors in asia and europe of the point is to bring capital back here.

neil: very quickly, nice, that would mean the bang for the buck you expect off of a corporate tax cut, it might not be as big because the cut won't be as big. >> you have to go past the popcorn. this was very entertaining. neil: if that is your version of entertaining -- >> this is important. you have to see what deductions. neil: exactly. >> nominal rate is 22, still take deductions. neil: did you keep arguing this in commercial break? i have a show to do. really guys -- >> try to inform your viewers. neil: why should we start something new? we're getting word by the way that texas congressman joe barton, he sent a nude picture of himself to a former amour, does not plan to run for re-election. he is not running for re-election. we'll have more after this. the dow not really concerned about that. up about 246 points. highs of the day. more after this.

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neil: dow well into record territory, i mean well, well into record territory. today's gains 250 points, we have four hours to go in the trading day. anything can and likely will happen. that is on track for this month, longest winning streak we've seen since 1995, for the dow.

a streak that has been really pretty much built on, over the past year optimism for tax cuts. they are closer not to happening. among some big winners over the course of that period, walmart and nike and cisco. the single biggest contributor goldman sachs, the investment firm will be a big beneficiary for those tax cuts. show do i know that? goldman put out a report to say that. i always get a kick out of that stuff. any concerns the markets might having a lot of money but maybe not a world to spend it in has been easing up even with the ongoing tensions we're experiencing with the north koreans. right now the president was speaking with south korean president moon which they discussed how to speak and respond to north korea. remember the south korean leader come under some criticism by this administration early on for being, too passive in the eyes of the growth threat from their northern neighbors. that has changed a lot lately

because within hours of that missile launch much, you heard the south koreans were conducting military exercises of their own. things have anti-ed up there. ed read from bush 43 defense official peter brookes. peter, good to have you. leaving aside the markets are not too worried about this, what is going on and anything we can do court nate with the south koreans, other in the region, japan, others, what do you think? >> we're certainly stronger together, no question about it. the administration understands the importance of alliances. they are critical what we're trying to do in the pacific. south korea obviously right there on the border with north korea. we've got 30,000 brave americans standing shoulder to shoulder with the south koreans. japan, an ally, if we ever come to some sort of conflict we'll have to look to japan for potential support. they're not right now obligated but only required to defend themselves. we have significant airbases and naval forces there we would have

to work with them. critical the alliances are bolstered, reassured. seems like the president is doing just that. neil: i'm wondering about the chinese, whether we can trust them. whether there is agreement on the part of chinese officials to say they have frozen all funds to north korea. i can't imagine they were not given a heads up on the missile launch much a couple days ago. do you trust them? in other words, we're working through the chinese as our best shot easing the prospects of shots here. what do you think? >> in general, neil, i think there is a high level of strategic distrust between the united states and china, and it doesn't just include north korea. it is also the south china sea, the economic situation, china's military buildup. there is a lot of things. china wants to replace us as the preeminent power in the pacific. so we're competitors. now we do have some similar interests in north korea but our interests do not align exactly. that is why the chinese won't do

exactly what we would like them to do. they will put pressure on the regime but they will not crumble the regime is my view. they do not want large refugee flows, 22 million north koreans flowing atheir border. they don't want south korean or u.s. forces north of the 38th parallel. they do not want a unified, pro-u.s. korea. our interests are not exactly the same with the chinese. they do align to certain extent but not exactly the same. but level of distrust because of issues we certainly have some differences with them on. neil: you know i always find it interesting that maybe the markets sort of go their own merry way and don't think this will amount to much. you and i likened it to whistling past the graveyard there. i don't want to alarm folks but we do tend to think the whole situation will go away. where do you see all of this

going? >> i guess i like neil bores about that, prediction is hard, especially about the future, but since you put me on the spot, i think there are significant challenges and what i really worry about is the freedom of action of north korea once they have an operational nuclear icbm program. in other words, what will they do because they feel they can do it? will there be misperceptionsmy calculations, mistakes that lead to a crisis, potentially conflict? >> i think we're moving into era of relations with north korea where we're really managing risk. it is possible to do. certainly would like them to give up nucleares weapons. i'm not sure they will do. they may come to the table but i'm not sure they are willing to negotiate away that program. but the fact is we need to be strong conventionally. we need to be strong strategically. talking about nuclear weapons there. we need to work on missile defense. we need to continue to isolate them, pressure them, him size of

any future intercontinental ballistic missile program. i think we're really in a situation of managing risk and we've been able to do that successfully since 1953 on the korean peninsula. i still think it is possible today. neil: amazing stuff. peter, thank you as always. peter brookes in washington, d.c. >> thanks for having me. neil: like i said, if markets are worried about this, you can complete the sentence, right, they have a funny way of showing it, right now up 267 points. the dow, less than 800 points from 25,000 but who's counting? more after this.

>> [inaudible] >> i said he should resign. neil: nancy pelosi talking about john conyers. that the, that the bedeviled congressman, longest-serving u.s. congressman right now should resign. conyers lawyer saying that the congressman will not be pressured by nancy pelosi. he was hospitalized in detroit

for stress-related issues. we're told he will be okay. all this comes at time where harrassment and these type of issues are front and center, prominently in the media industry. matt lauer the latest to get brought up on all of this stuff. we're founding out a lot more stuff. tracee carrasco with a lot more. reporter: matt lauer finally breaking his silence today after he was fired by nbc for inappropriate sexual behavior. in a statement read on air by former "the today show" co-host, lawyer said there no words to compressor row and regret to people i hurt. some of what is said is untrue or mischaracterized but there is enough truth in these stories to make me feel embarrassed and ashamed. there are as many as eight victims. that is according to nbc news correspondent stephanie gosk. details are slowly coming out about the accusations against lauer. "new york post" says the first

accuser was intern at 2014 olympics in russia when she was first approached by lauer. lauer allegedly sent lewd text messages to the woman. the reason he was fired so quickly because the text messages were saved by the victim. one former employee who didn't use her name, told "the new york times" that in 2001, lauer called her to his office, locked the door and sexually assaulted her. another anonymous female employee told "variety" exposed himself in his office and reprimanded her not engaging in sexual act. jeff zucker, former head of nbc-universal said business insider conference, i have known matt for 25 years. i have never known this matt. there was never a complaint against matt. there was never suggestion of any kind of deviant or predatory behavior. there was never even a whisper of it. neil? neil: tracee, thank you very, very much. they're looking at this in washington as well.

remember in washington they have things a little differently. in corporate america you can just fling someone out if you don't like what they're doing or even hinting at but it is quite a bit different right now when in washington where they have a system set up, that will involve hearings, payments, checks all of that stuff. a lot of people had no idea existed. patrice lee is with us, independent women's forum senior policy analyst. the first thing that comes up with all of these cases as they're planning now and more and more hearings into all these varies issues among republicans and democrats, patrice is, this payment system they have had established that cost already north of $15 million. the big difference in washington of course, that is our money, that is taxpayer money. what have you learned? >> yeah. these are taxpayer dollars that are going towards misconduct. it is not just sexual harrassment. it is broader than that. the fact we have a process, there is no transparency, very little accountability and everything is held behind closed

doors, it leaves tax payers to wonder what exactly is our money going towards? we hold members of congress to higher standard of elk -- ethics and behavior and this is just not a good look. neil: you know what i'm always started by when i talk to senators, even some big guns like head of the judiciary committee, senator grassley, said he was unaware this even exists. well he is a long-serving, prominent member. he is in the club. he is one of the prominent members of that club. he didn't know anything about it. so how did this get to be point where $15 million in payments went out? >> i think it is the way this process was established. it was created to protect members congress, not necessarily to pursue justice and truth, to rightly investigate and to actually remedy some wrongs. and you know, there are a couple of members of congress i believe, maybe speaker ryan might know about some of these

payouts and payments. and nancy pelosi, but apparently they don't know the details of everything that went into the cases. so there is a lot of secrecy shrouding how this entire process goes into play. hopefully things will change because you know, we are expecting that our taxpayer dollars are not going towards congress misbehaving or behaving badly. neil: obviously this whole thing on both sides has gotten antsy where if you think about it now, you have congressman conyers' lawyer saying cool it, nancy pelosi. you have roy moore in alabama saying some nasty things about mitch mcconnell, who said that he should step out of the race. so i do imagine this is causing some grief between those who might deem it an embarassment coming in, or are already in and those running the show, the party chieftans there. so where is this all going? >> i think both side are kind of running to protect their own. this is not a partisan issue.

this is not about republicans or democrats. this is about what's right and what's wrong. whoever is running for office or holds office, we expect more and better behavior from them than what we're seeing today. congress has opportunity to be a leader in this entire discussion about sexual harrassment which is like an avalanche right now. i don't think they will step forward to be a leader. i think they will wait behind. ironic nancy pelosi is now saying conyers should step down. it has been a week of her saying maybe not, i'm not sure. neil: right. >> that is the difference between the private sector which is nimble and fast and the public sector. i don't want to say, these are allegations. so they do need to be investigated. there is a measure of due process that needs to occur but at same time, to excuse the behavior, be very soft-spoken when you're supposed to be advocate of women, certainly undermines her credibility on this issue. neil: patrice, thank you very much. we'll watch closely. take a look at the dow right

now. we're getting close to a 300 point gain on the dow. with uncertainties, scandals and north korea, it is all about tax cuts. the substantial change today, we could talk about oil stocks, we could talk how about that benefiting from up prices and goldman sachs optimistic about tax reform going through, but the clincher was when john mccain said i had my doubts on this thing but i will support this thing. support the senate measure that will call for the most sweeping tax cuts in a generation. they're not largest by any measure. they're sweeping nonetheless. they're significant, nonetheless. when john mccain said i'm for them, wall street bought on that like crazy and continues. more after this. they're all about me saving for a house, or starting a college fund for my son. actually, i want to know what you're thinking. have a seat.

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this year about 22 1/2%, this is the sixth time we have gone like a hot knife through butter or cold knife through hot butter since donald trump was elected president of the united states. fifth time this year, 1000 point milestone. this is one of the quicker advances. we crossed 23,000 in october. we're -- the talk looks like it could be more after sure thing. i hasten to add looks that could change. the catalyst for that kind of sentiment, the talk of john mccain, the guy who tore -- torpedoed health care work by republicans. he is saying it is not perfect but as things now it is better than what we've got and he will be a yea vote on it that might do a lot to wiggle free some

undecided senators. it is always in the details, and what they're dealing with back and forth to make this thing a yea. wall street seems convinced it will be a yea. market watch dan shaffer is with us. alan knuckman. alan, end with you, begin with you, what do you think of the significance of john mccain saying you know what, i will vote for this? >> the markets are telling us it is a done deal. that is the action we've seen last couple days. this is more momentum. more upside move. the question, what is next? what will we focus on afterwards? will there be sell the fact profit-taking round? i don't know. i think we have a lot of strength left. i want to point out one thing, talk about percentages, not points. when we get up to the lofty levels, 24,000 in the dow, 2600 in the s&p, each 400 points in the s&p is 1%. each 1000 points is a 4% in the dow. it's a big number. want to focus on percentages, not the differential.

neil: that is very true but we find it more dramatic for ratings to focus on the big number, so you will just play along, alan. >> gotcha. neil: i'm kidding. dan, what do you make is going on here, behind the scenes horse trading going on. they might lift the corporate rate from 20 to 2 it% to mollify senators who want higher tax credit in case of marco rubio or more assurances on health care if you're susan collins of maine, what do you make of that? >> neil, i don't think they're quite done yet putting this together and even after they vote, if it passes i don't think they know what it will look like it in the outcome. they are jockeying around with percentages and numbers and deductions that will go away so it is almost like the obamacare program where they voted for it but they didn't really know what was in it. that is my concern, i don't think they have full control what they're going to be doing but the market is just getting so excited about it we're just

reaching a phase that is so super cycle high we've seen before, kind of remind me of 1929. neil: really? i know how that one ended. alan, you're not in that camp, or are you? >> no, i wasn't here in 1929. i've been here a long time. it's a market melt-up. sometimes you get blowoff tops. every time we have push up and pullback we go back to top of old highs. that happened every time in history. i'm not looking for that to change at all but i think we -- neil: this bull market, right? this is an unusual bull market, right? >> we're up 17% in s&p in 2017. but we're up 87% the last five years. this isn't a new phenomenon. it is just an extension. neil: gotcha. >> when we get the tax cuts it will only actually accelerate it. talk about the banks supposedly beaten and battered. they made $171 billion in

profit. that is the third year in four they made all-time record profits. corporations are doing well. this will be another catalyst, up, up and away. neil: would it make a difference to you, dan, whether the corporate rate ends up being 20% or 22%, whatever wheeling and dealing is going on? i hasten to add, i have no idea. i hear these behind the scenes things going on. what would that mean to you? >> it doesn't really mean much, neil, i'll tell you why. just because tax breaks will be lowered for corporations that they will necessarily increase wages to their employees. we're at a point now where they claim unemployment is at full levels, employment is at full levels but wages haven't gone up. if you look at some of the pricing of products, the margins are not what they used to be. they're not going to give it away. so as corporations get less in taxes, doesn't necessarily mean they will give it to the wages. doesn't necessarily mean that they are going to invest.

the biggest problem that i see, or two things. one is, the u.s. government will get less revenue. we're sitting on deficit that we have today, interest rates levels that will be problem for spending. nobody is talking about reducing spending with this whole tax reform. the second thing is, something that i watch very carefully, i've been talking about it now for four or five weeks, is that the spread between the 10 year treasury rate and the two-year treasury rate is narrowing, and that is descending rapidly. similar in 2007, and similar in 2000. after that drop to such a low level where the rates were very close, that, is a sign that the bond market does not believe in the growth story. i don't believe in the growth story. neil: i should explain you guys are geniuses. that so-called spread, whatever you want to call it sometimes can indicate when it flattens out a precursor to a slowdown. do you worry about that, alan, down the road, whatever jump we're getting now it will just

be short-lived? >> i think it is very unique situation. i don't think it is sign of recession in the past. all the economic numbers are very positive. tightening in the spread could be due to selloff in the junk bonds and could be do you to tax implication of new project we're embarking on. i don't think it is canary in the coal mine. rates are very, very low. if rates were normalized it would be worth discussion but i don't think it is discussion at this point. neil: i give you last mention on that. canary in the coal mine, all coal stocks are up, canary notwithstanding. ge and johnson & johnson only two of the 30 dow stocks down, not appreciably, about a third of a percent. we'll have more after this. is this a phone?

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neil: all right. right now there are reports on a day otherwise everyone is buying them like crazy, we could have a cabinet shake-up with talk that secretary of state rex tillerson could be on his way out and could be replaced by cia director mike pompeo. blake burman with some details from the white house. blake? reporter: hi, there, neil. president trump would not say a little while ago, earlier this morning whether or not he wants

rex tillerson to stay as the nation's top diplomat or not. here is what we tell you from sources inside and outside of the white house that tell fox that tillerson is expected to leave foggy bottom in january. a couple different succession plans are laid out. two different ones. most likely following, tillerson leaves, mike pompeo would be elevated to the secretary of state role and tom cotton would be nominated to replace pompeo. scenario one, more likely of the two. the second one, u.n. ambassador nikki haley would replace tillerson and dina powell, currently a top aide within the nsc, she would replace haley over at the u.n. of course as we know from covering this white house, neil, seemingly any of this could change any moment. the president didn't seem to want to talk about, when he was asked about it a little while ago. listen here. >> do you want rex tillerson on the job, mr. president?

he is here. do you want him to stay in his job? >> thank you very much. reporter: after press secretary sarah sanders put out this statement. she writes, quote, as president said, rex is here. no personnel announcements at this time. the entire cabinet is focused on increditally successful first year of president trump's administration. ivanka trump, president'sest daughter, senior advisor could end up moving back to new york to take some sort of a role within the u.s. envoy to the united nations. neil. neil: that is not exactly a ringing vote of confidence for the secretary of state. yeah, he is here, right? reporter: we've seen eight few times where he doesn't necessarily want to answer. then that person is out the door. i would say tomorrow is a friday, which makes us do this around here. neil: oh, no. reporter: there is no, you know

what we're getting is pointing towards january, but you're right. that didn't seem like a ringing vote of confidence. we will hear from sarah sanders later this afternoon. neil: thank you very much. blake burman he is here. he is at the white house. kidding. not kidding that i have utah republican congressman mia love. always good to see you. >> always good to see you, neil. neil: we have the dow raising in and out of all time daily advances for the year, all-time highs, a lot on optimism tax cuts will happen. do you think they are? >> oh gosh, remember i was really mad at the senate when they couldn't come through on health care. this will a win for american people. i'm hoping, praying they can get this done, congresswoman, you know, your senator mike lee has joined marco rubio with a push for higher tax credit in the house i believe. you guys increased it to north of $1600 a child from a thousand. >> yes. neil: now, they're pushing to make it still higher. "wall street journal" and others

editorialized, these are for people though they pay payroll taxes, and there is no, that is a lot of money, payroll taxes are still taxes but they're not income taxes but it sets a dangerous precedent. what do you think? >> i think whenever families are able to save so they could pay for the things that they need for their family, that is always a good thing. you always have to balance it out. remember, we still have a spending problem in this country. that has to be fixed. we have to make sure we address that. i think that the american people have been taxed for such a long time, they have been pretty much held hostage for, to try and make sure that government has money to pay for everything for everyone. we have to do everything we can to give people a little bit of a break, and especially people trying to raise their children, so they can put more money into their homes, to take, eventually put more money into the economy. neil: you would be okay with that bottom line? >> with giving more money to families? absolutely.

absolutely. neil: another talk to speed this up, we're getting hurt that the senate could vote on this tonight be maybe tomorrow -- >> i hope so, it would be shot back to you guys in the house for yea or nay vote. what do you think? >> i think we need to get back to reconciliation. there are still some things on the senate side i don't like. the fact they increased brackets. we're trying to simplify the tax code. we have 70,000 pages of tax code we have to simplify. make it a little bit easier. get rid of loopholes people take advantage of or some people aren't able to take advantage of. so i'm looking for as much of simplification as possible. again doing everything we can to give the american taxpayer some relief so that they can take care of their family. neil, remember what this does for families. i need to make sure everyone understands this. when a family is able to save more of their money, they're able to put more money into education, buy a vehicle, do something. what end up happen something that they're less dependent on

washington trying to do everything for them. so again this is about giving people a little bit more opportunity, and a little bit more dependence on themselves so they don't have to wait for washington or the nancy pelosis of washington trying to take care of every aspect of their lives. neil: you mentioned nancy pelosi, congresswoman, and she has said maybe the better part of valor is for john conyers to step down right now. all of this at a time we're getting new revelations about al franken. there is at republican side, congressman barton, announced he is not running for re-election. everyone on tintter hooks in both parties about roy moore, whether he wins his race. what do you think about all of this? >> it is absolutely disturbing. all the allegations are incredibly disturbing. they're all different. some have admitted to inappropriate behavior. i just raising young girls. i am scared out of my mind the world i'm sending them out to. my oldest daughter will be going

to college. i have to, we have to get really comfortable having uncomfortable conversations. so that way those who are victims can voice their, voice what is happening to them. and also, protect people from having to deal with this type of behavior in the future. i believe that what we do today will write our history and will tell us how we deal with things in the future and we need to make sure that we allow for due process but we have to make sure that people are able to have their voices heard and stop this inappropriate behavior. neil: congresswoman, i like that we have to get comfortable having uncomfortable conversations. that is very true. thank you very, very much. >> thank you, neil. neil: good seeing you again. dow up 332. more after this. 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

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neil: welcome back, everybody. i'm neil cavuto. you're watching fox business, cavuto coast to coast. for those thinking and the cushions and houses handling a lot of voters, goldman sachs the biggest among them in the biggest contributor all stocks doing their part on higher oil prices they benefit from the likes of exxonmobil, chevron, what have you. all of this on the prospects of tax cuts and john mccain saying he will vote for this as things stand now. as things stand now, senate majority leader mitch mcconnell hoping for a tax passage as early as tonight. in other words tonight and tomorrow at the latest.

they are taking an expedited move on all of this. how likely that is with all the doubts and wheeling and dealing to get the votes is anyone's guess as we look at the capital right now from the united states senate. adam shapiro on capitol hill. i guess getting john mccain crucial doesn't mean you get everybody, right? >> two senators on the fence, but none of the 10 so to speak is that they are opposed. at this point the momentum is very strong and that endorsement come in the fact he will vote yes is very important. if you're looking for timing there's nothing official, you'll be talking maybe 10:00 p.m. tonight, 11:00 p.m. tonight, but the key here, too, keep an eye on what leadership says about the health of thad cochran and they don't want to go to a parallel initiative before the senate where the debate has been going on because it's in the last 15 minutes, mike emanuel was able to break the fact that

senate democratic leadership is clearing the way for centrist democrats who face tough reelection bids in their states to vote in favor of the tax reform bill and vote their conscious if necessary. coming from mike emanuel at fox news channel, democrats have been cleared to vote yes on this. now the clear for the republicans. john mccain saying he will vote for this and this is the same, which actually will offer clearance for others. he said i believe this legislation, though far from perfect, would enhance competitiveness and provide long-overdue tax relief for middle-class families. mccain was really big on getting back to the tradition of democrats and republicans working together. he feels the democrats haven't been apart of this, they've gone through procedure. here's what orin hatch said about normal procedure. >> we've gone right straight to

as far as being able to handle this matter so important to everyone else in the country. if we don't get together and start working together, it's going to get worse and worse. >> so if you're keeping score, for instance, senator daines have gotten something, susan collins has gotten assurances that issues regarding further cuts to things like medicare, medicaid will be addressed before final passage. these are the issues senators who are on the fence want before they will say yes and that is where we stand right now. neil: far from a done deal. thank you for the big picture, adam. republican senator come the senate rules committee roger wicker with us now. thank you for coming. >> good to be with you. strange how to select to you? >> shaping up to be a big day. i do think there's a reason the

stock market is up over 300 points and has been up in numbers this whole week. i really think the job creators in this country see this happening and all of the effort to get to real tax reform and take-home pay for americans is about to come to fruition. we are going to make a big step either tonight or tomorrow. neil: you think it is still set or a vote before the weekend and that john mccain's decision to vote for this, was that crucial to you? >> it is crucial because we can only lose three and we lost him once before. , but also his statement is exactly right. this will provide a great boost for the economy and much needed tax relief for americans. i think it will create jobs.

right on track. neil: i'm sorry, sir. you know better than i behind the scenes they are doing wheeling and dealing and that is natural here. one of the ideas being expressed as being expressed is to maybe raise the corporate tax rate from 20% being bandied about and that could do a lot to secure their votes further means. i can get into the other means, i'm not what you think? >> well, i would not like to see that. i would think we would want to say at the 20. your opinion -- european and asian competitors are lower than that and looking to go even lower if they possibly can. so that is a measure of how we treat job creators and i would like to stay at the 20. i think we can nibble around the edges of these various scores without racing that 20% corporate rate up to 21 or 22.

neil: would you rather not do it so your house counterpart was specifically descending an up or down vote in the senate, assuming its path similar to the house to vote yea or nay on what you come up with. >> no common i think we all are knowledge that we are going to conference and as a matter of fact, a senator who goes over and checks with my brothers and sisters on the house side and i met with later mccarthy yesterday and he made it clear we are going to have to have a little conference and iron out some of these differences. the major outline, the major bones of these proposals are very similar and i think we are going to get there. neil: we are going to have a little conference. we are going that have a little chat. thank you very much. the president is very confident

this will go through. this'll be a winner for the american people. will that be the case? ken blackwell from a very good to see you. would you make of this? >> i think it's great news for getting the capital that's falling back in here, creating jobs. jenrette, former governor of ohio used to say it's all about jobs, jobs, jobs and working people want jobs. i think the senate and the congress in general have a binary choice. they have to choose to embrace the status quo and slow job creation. or in fact, they can choose change, whether it is big change or moderate change, but they need to be proud of change and growth in jobs and income. >> it's all about jobs. you're right about that. the tax cut the companies are going to get, they will plow

back at least initially into stock. i mention this a lot because that is what happened last time they got something akin to this. they are free to do that and not has its own positive effects for the economy, but it doesn't create jobs right away. are you worried the job gains are part of this comes later? >> well, when you look at the number of americans that have their futures tied to lifting the stock market and stock prices and what have you dividend returns, but that too has a positive impact on all of those at retirement age who are already retired. as far as the comprehensive package, and we will in fact encourage folks to invest that money in jobs and workers and put us on the path of making sure we are not only of the

world's only military superpower, but now we are the 500-pound force in the room when it comes to economics drivers. neil: i know you will not mark it out loud. you are too cool for that. a lot of people who have been talking and saying this has all the feelings of a market that are very enjoyable when they happen, commented that there is a frenzy to it. it could be a very justifiable frenzy, but that it obviously can't do this the whole time, but americans are not prepared for what happens when the ball slows down. are you worried about that? >> not too much. we have a president that understands the nature of capital, that the trump of

israel and me personally, as i talk to my family and my wife always says to me, what does neil think? so i sort of -- and she's watching you today. say hi, rocha appeared neil: she also thinks your head is larger than mine. you're not even in my zip code. she's obviously your better half. i do want to ask you, the reason i mention that if you know the president has a good deal of time if it's going your way, how will the markets have done in the pickup in economic activity, three-point 3%, but the flipside of that is market don't always go up. ronald reagan rarely mentions the market even though when his presidency was done they were a lot higher than when he came in. is there a danger to that?

and i are friends of the president as well. >> look, i don't want to think i'm that close or that big of an adviser to the president, but i will tell you having worked with jack kemp and ronald reagan, the fact of the matter is the markets go up, markets come down. one of the things that we have to do when markets go up and revenue goes up, that is the time you start to deal with discipline spending restraints because that in fact -- neil: they don't do that. that is where they'd better come to grips that is not all about always going up, markets come down. neil: i see none of that spending restraints in either party. that is where the longer-term. >> and me, too. i'm going to be on the sidelines

or if i'm in the game, going to be basically saying, look, we have to address the spending restraint and spending cuts because if we don't, the ride down in the market will eventually turn down, will in fact be a very, very scary ride. neil: very good seeing you. just to let you know, your head is significantly larger than his. try as you might come he have to go for the silver i'm not one. always good seeing you. >> always good to be with you, brother. in the meantime, they might call this the mighty mack riley after john mccain because as soon as he said would ever make out wherever the health care thing, i don't want it, i think we can do a lot better. it's not perfect, but better than what we've got now, i'm going to be a guess. ever since that moment, buyers

have been a yes. more after this.

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>> welcome back to cavuto coast to coast nicole petallides live on the floor of the new york stock exchange heard a record-setting day on wall street. in fact, today one trader

contacted john mccain tax relief rally. every now 345-point and this month you can see at jumping to 907 points, breaking right through the 24,000 mark. in particular doing very well. on the idea of tax relief, up 3% and 4% respectively hitting all-time highs. these are the winners of the dow jones industrial average. nike had a 52 retired time ago. some of it for this month of november watching ge, intel and coca-cola being up 9%. coca-cola was on the 70 be down

about three quarters of 1%. better breaking day on wall street. got 24,000 for the best day of the year. neil: at the rate we are going, maybe 25%. goldman sachs senior partner peter kennedy was asked. in the middle of the rally a couple thousand points ago in everyone's talking about a meltdown. nothing to stop it and the prospect for tax reform or regulations in all of that was a good environment. the question i want to ask now is still the market right now. >> a lot of these and i appreciate the shout out, but frankly you can't stand in the way of a bull market. i never would. i started on wall street over 40 years ago. there haven't been nine years early at 22% growth. that is where we are right now.

this is where air, and nine times in four years. i think there's an awful lot of good. let's let the euphoria calm down a little bit because i'm afraid that very often this is a very exciting bill and wages yet have been frustratingly going nowhere. neil: companies change. to me is 1.5% gain since 2007. if that number doesn't change, then we rearranged an awful lot of furniture to not get there. we need to create wage growth and jobs. those are the two real measures for nothing else matters. neil: what would they do to change the behavior to pay less in taxes. that wouldn't happen instantly. what would they do with that extra money? >> to me one of the most

frustrating things to watch his own people do things that should create jobs. they push down on something even when you have lots of encouragement to the economy it always takes a long time and the last piece of economic recovery is always jobs. neil: today the big slide with the job impact. the reason why mention that this guy would republicans be disappointed if what they thought would be companies filing all this extra dough they have and they don't. >> basically job creation is about confidence. really two elements can be fantastic year for middle-class america. one is 4 million great jobs created than they need to be filled. making those connections is a great start. creating new jobs is a great start.

take the momentum. the serious momentum we are seeing in the market and with this legislation and go forward with a big infrastructure activity. that is between punch is going to drive the corporations to invest. neil: where'd we get the money for that infrastructure? >> a lot of ways to do where you don't have to raise taxes although some say let's increase the gas tax is not an easy one. what we should do is create a national infrastructure development. we should go to every corporation, every hedge fund can say now is the time to come to the aid of your country. every time without a massive investment in infrastructure, what's happened? china is doing that right now. all were doing is taking a page out of their playbook. they spent a trillion dollars on infrastructure in the last year. we are talking about spending. they bar the money. i'm saying lots of dust behind it.

just like we have more bonds during the war. neil: who knows. what do you think of the debate back and forth to whenever some senators here, to raise the corporate tax may be 21, 22. would that make a difference? >> the trouble is one of the senators who's been so read all the way through here is ron johnson. if you think of the 6.5 million businesses in this country, 95% of them are pastors here they are mom-and-pop. this wants to even the score. if i were going to do anything extra, i would give it to the smaller pastor corporations. that's her jobs were created in more growth comes from. the big corporations are well fed. i understand that the deficits get too big want to add a pointer to want to the corporate tax rate.

neil: you wouldn't be in a camp that wants to raise taxes a few years into this, the deficits are coming on, would you? >> i wouldn't because when you talk about $1.5 trillion deficit, botox but a gigantic number, to get the economic growth we talk about, there will lived. >> the .3% is better. that would sustain them pay for that. either way, what people forget is the moment that 1.5 trillion in tax revenue they say nothing about the 9 trillion that's that mean we are going how will produce bigger debts. the >> i would never confuse spending with an investment. if you can do that, you are invested in the nation and that will make the economy go and create situations to bring money back from overseas. they are going to do that. they will invest in they believe the economy is a sustained grower. neil: jim mentioned before i

thought, but i'll go with the 40. this president talks about market. you remember ronald reagan. he rarely talked about the markets. felt kind of spook about them, they still under the doing a lot better. how would you advise the president? >> we've had such an enormous win and we think about like i said there's only been a handful or two handfuls of the stock market is up this big. neil: he may as well run with it. >> now the real question is let's measure ourselves on some of the really important stuff. the economic growth the 3.3% if i said that with my table by summer month or year ago people would've said you're out of your mind. no way we can get 1.5% in less than a year without tax cuts. the other thing if you look at

the 40 biggest economies in the world, they are all growing at the same time we are. that's a serious case of global momentum. neil: this is not a rich market? >> you know i'm an investor. i would be careful. i don't need to can expect it. already we are going to get dirty. i think there's lots of room for growth here, that there is frankly a lot of performance, lot of cash on the sidelines and a lot of companies that can do great things here. i'm not a stellar. neil: very good seeing you here. the dow is still up appreciably here. i'll go down about 30 points from a computer first started. shame on him. a little more after this. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh.

feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. :

:

. neil: when it rains it pours, a former new england elected official said al franken tried to give her a wet, open-mouthed kiss on stage in 2006.

you might recall he said he's not going anywhere, not leaving the senate. at the same time, john conyers has ignored requests on the part of nancy pelosi to step down. his lawyer says he's not going anywhere. lawmakers themselves for calling for an end to harassment hush fund. folks never knew this existed. every single prominent democrat, republican, senator, congressman, you name it. everyone knew nothing about it. we know nothing! gerri willis looking into that. gerri, what have you found out? reporter: it's very, very surprising now, isn't it? i have to tell you. the bipartisan bill you were just describing to prohibit federal tax dollars from paying sexual harassment settlements levied against congressional members has gotten support from 33 members of congress that according to representative ron desantis's office, one of the sponsors of the bill. if the bill were passed it would reveal the names of congressmen who benefitted from

decades worth of settlements. 17.5 million of your taxpayer dollars. only detail they would withhold is victim names. they could come out on their own if they wanted. listen to this. >> those that have used this money, taxpayer dollars, to pay these settlements and claims, they need to pay that money back with interest. reporter: well, the issue has been a lightning rod on the hill where democratic representative kathleen rice walked out of the democratic caucus meeting this week when minority leader nancy pelosi failed to address the issue. >> i think we show no moral authority whatsoever as a body. this is only why 6% of americans think congress is doing a good job. you see the actions that cbs, nbc take when there are allegations against very well-known men in positions of power and we don't do the same. it's a disgrace. reporter: and every day brings new charges against leaders in business and media, congress

struggling to improve outdated method of addressing complaints, requires women with complaints to go through a drawn-out process of counseling and mediation and, of course, to remain silent. one big question which remains unanswered is whether the office of hr for congress has maintained the files over time. 20 years after all. a spokesperson for desantis told fox business, there is so much secrecy surrounding this office, we don't know whether they still have the files. neil, as i send it back to you, as you mentioned, congressman john conyers lawyer not saying whether the congressman will resign despite pressure from minority leader nancy pelosi. neil. neil: he's saying i'll decide this on my own. thank you very much. matt lauer has already apologized as nbc receives still new complaints about him, and indications more might have known what was going on. on the washington examiner and

katie glick. this gets bigger and bigger, we're in glaze house at fox, who are we to judge. i relate to the understanding some who didn't know, i certainly didn't know at the time a lot of stuff was going on but that perennially seems to be the case. i'm wondering what other shoes drop. how many, and how bad this gets, what do you think? >> great to be with you, certainly an open question about how many more shoes there are to drop. no question whether it's on capitol hill, whether media, whether it's in silicon valley. we appear to be in a moment where increasingly women are feeling comfortable with coming forward and sharing allegations that in some instances they have kept quiet for many years and increasingly it does seem that many of the allegations are taken more seriously now than at any point before. neil: gaby, we're hearing how washington handled this within its own ranks in congress as democrats and republicans, they're not usually swift to

go. we have heard from congressman barton who sent nude pictures of himself to a former love interest, that he's not running for re-election. what john conjers does is anyone's guess, but they're slow to go. in corporate america, of course, they're immediate to go, whether they like it or not. there might be a happy medium, what do you think of the difference? >> yeah, there's a huge contrast between how instances of sexual assault and the allegations are handled in the private sector versus on capitol hill, and i think that's one of the issues that both parties face right now is dealing with the optics of continuing to promote legislation that either democrats or republicans think benefits women but simultaneously doing nothing to reveal the members of congress who have been, you know, who have let taxpayer money in order to settle these cases or to hush their accusers. so i think that as the bill

that was introduced yesterday that bipartisan piece of legislation to make public the names of any lawmaker included in the settlement involving sexual assault allegations, that's something democrats and republicans need to coalesce behind, to prove they are on top of, this taking this moment, as katie described it, very seriously and making sure changes are implemented in congress. neil: yep, it's not going to happen fast, but it is certainly happening right now. they're trying to. thank you, guys, both very much. we have breaking news including all the markets on what people are calling a mighty mac john mccain rally, tax cuts aren't perfect but better than what they are right now. transports, related stocks, anything having to do with trucking and airlines doing much better as well. there is the dow fury, without getting arcane here, as those stocks go, a good harbinger for the rest of the markets and the economy as well. in other words, if goods are

moving, then stocks should be moving as well. well, they're moving all right. after this. are you on medicare?

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call unitedhealthcare or go online to enroll. sfx: mnemonic . >> do you have the 50 senate vote us that need to pass this thing in the senate. you got them? >> yep, yep, on the republican side, we're finally dealing with a full deck. we got all 52 cards and all 52 votes. on the final bill, we may lose one, maybe lose two, we're going to pass this thing, we just need to go. neil: all right, that was senator kennedy telling stuart varney we're ready to go and john mccain was a big catalyst for that. while he has reservations about the tax measure, better than what we've got right there, right now. to former bush 43 chief of staff karl rove. that could be a significant development in and of itself since the senator opposed both

the president bushes tax cuts. a yeah on these. what did you make of that? >> look, i made it part of a bigger picture that was important. think about this. president trump has a very poor relationship with senator mccain. he recently used his tweet to launch a barrage of attacks at senators bob corker and jeff flake. he's belittled dean heller. made comments about suzanne collins and all of these skeptics about the tax bills have put their country, our economy and their party ahead of whatever doubts they've got about the bill are and supporting them. neil: yeah, there is. that but in mccain's case it's interesting because whatever his thoughts are, the president, you know, this is going to increase the debt. not everyone makes a big deal of the 1.5 trillion and the revenues lost, no one says boo about the 9 trillion added spending added to the debt. be that as it may, on issue that alone, you would have

thought mccain would be holding out. he's not. why do you think that is? >> well, i think it's because senator mccain is able to make a difference between -- is leaving the tax code as it is today going to make america's economy stronger and do anything to close -- to solve our deficit problem, no, it's not. we've had $43 trillion in revenue over the next decade and $52 trillion in spending. leaving the tax code as it is will leave us with a $9 trillion deficit. if we pass the tax code, fair, simpler, compliance costs will drop. some of the cost of the tax cut will be offset by economic growth, but as i said in my "wall street journal" column this morning, the focus needs to be on restraining spending. we don't need to cut it from current levels. over the next decade, mandatory spending, 70% of the budget will grow to 80% of the budget

and more importantly, increase by 78% over the next decade while discretionary spending increases by 80%. the congress now needs to pass a tax reform bill and turn its attention over the long haul to find $2.9 trillion in savings, out of $52 trillion of spending, got to find 2.9 trillion to keep the deficit at the level it is today, roughly equal to 75% of gdp. neil: and yet, that is a herculean task. >> difficult, no doubt about it, no doubt about it. vote no on the tax cut is going to do nothing to help that process. neil: we're looking at the markets running fast and furious with this. you know, we talk about the fact they could rearrange the corporate rate, maybe not make it 21%, make it 22% to satisfy those who have doubts about it, including making overtures, you

mentioned "wall street journal," your column, the same paper today in editorial talked about the moves of marco rubio and others to increase the child tax credit for those who pay no income taxes, they pay payroll tax, they deserve a break. i think that is a slippery slope, what do you think? >> i do, too. what's the focus here. got to be economic growth. the more that we take out of economic growth and put into things like refundable advanceable tax credits to people for child care expenses, the more we're taking to benefit a group, and granted an important group. families with children. neil: why not lower the payroll tax itself, then? >> i want the economy to grow so every person, whether they have children or not, whether married or not, whether in namely or not, has a chance to have a greater, better,

economic future because the xee is growing stronger. this bill will make our economy better and stronger. we're the only major industrialized country without a territorial tax system, we're taxing the profits of american companies abroad. why should we be surprised that the companies are forced to invest in foreign companies in plants and equipment and acquisitions abroad rather than strengthen our economy here? having a lower tax rate that every cfo of every company can immediately tell what's going to happen to the bottom line is going to increase business investment which has been what's lagging during the recovery that we've been having since june of 200 9. i want economic growth to be the primary beneficiary of this, and frankly, we've already gotten a house and senate bill, a very generous increase in the child tax credit. it's pushed senators lee and rubio, as much as i respect senator rubio and lee, they're

pushing to make it doubled and make it refundable. neil: it's gone from a thousand to north of 1600 at a minimum. karl rove, always good seeing you, thank you very much. >> thank you, sir. >> we're up 301 points. the dow on pace to hit 80th record close since election day and sixth thousand-point milestone in the same space of time. after this.

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. neil: all right, mighty mac, john mccain, a big reason why we are up so much. the senator never a fan of tax cuts, certainly george bush's, voted no against two of them, voting yes on this one. that was a big deal and might has changed a lot as senators sitting on the fence to yea votes, that as the market is reading. other details announced today including cvs close to scooping up aetna for 55 or $56 billion. the wind at this market's back, there is the transport that says transportation stocks go, the trucks, the airlines, so is a harbinger of things to come.

hard to say so much is not. a lot of green arrows, connell mcshane and deirdre bolton is here. >> interesting the rotation over the last couple of days, marketwise and uncovered about what specific industries this might benefit out of the technology names so high-flying, to some of the companies that pay high tax rates, the truckers that stand to benefit more. now that the speculation turns into reality, who's going to do better with this. neil: apparently everybody. >> industrials, financials as well. neil: individuals in high-tax states. >> connell bitter. neil: he just can't let go. gasparino cannot let go. >> i think senator mccain indicating this is as have. this is an overall euphoria. industrials of course and financials. neil: he didn't have to announce anything today. >> no, he did not. neil: so i'm always curious what would be the catalyst.

>> what changed his mind. neil: is this going to help us out, john, if you telegraphed how you are feeling? >> i have not picked anything up. >> almost like someone like john mccain has been around so long and so highly respected, speculative, it's got to bother you when people are saying you're going to be spiting the president. the discussion we've had for the last few weeks, and maybe somebody feels like, you know what? i want to make it clear i'm deciding the issues on their own merits and republicans are just generally speaking in favor of tax cuts. john mccain sees this like many republicans do as not perfect but better than what we have. >> investors like it. the dow, i saw nicole petallides with the dow 24,000 hats and the traders cheering. neil: you ever wonder, you're trying to rain on a great parade. if you go back in time and look at our shows, all of our shows, we would have heard the bullish

and the bearish arguments. the bearish argument is too many people are bullish. >> at some point, neil, we're going to get a sell-off. neil: nine years of that one, a bull and bear arguing in the last hour somewhere worried about the meltup feeling and meltups to this degree surrender some of that. >> at some point, there's going to be a time when interest rates start to go up at a rate that surprises people at how high -- next year or sometime that that's the conversation that changes, and at some point there will be a sell-off. for right now, there's -- you could talk about the fact that at some point something is going to happen. right now there is no reason for it. >> there are strong underpinnings, not that i'm going to cheer this on and cheer this on. even if we slow in growth, the u.s. as traders like to say the cleanest dirty shirt in the closet. we look good as far as other places to put money. u.s. equities have a safe bet

and you look at the tech stocks rallying. facebook, apple, amazon. these companies are continuing to -- neil: taking it on the chin yesterday. that gets back to the theme of rotations, something you see in bull markets. they're strong enough to absorb the punishment of the group that's in favor, out of favor, another group comes along. >> u.s. equities being the place to be, you could argue anything is the place to be. the craziness in bitcoin the last couple of days notwithstanding. neil: that's a weird one, and such a volatile one. >> yeah, down 20% and since inception has fallen 80% in five cycles. so bitcoin is not for those who have a weak stomach. neil: and yet it's one of those that has these enormous swings, and it's not like a stock. so what -- >> it's not like a stock. neil: what is it? >> a virtual currency, what's

interesting about it is the legitimate organizations, i shouldn't say legitimate, ones we recognize, the cme, the cbo, the nasdaq, cantor fitzgerald, they are beginning to say so many people are interested in this, we are going to provide a vehicle via contracts, based on bitcoin, meaning it's becoming part of the mainstream. neil: as soon as that happens, bitcoin is finished, right? >> as soon as someone comes in and regulating it like crazy it could be. >> which i think most central banks have been interest in doing, if you're doing peer-to-peer and you don't need a central bank and don't need a government, they are going to have some say about it. neil: thank you very much. rex tillerson could be facing his final days. how would you like it if your boss said this about you. yeah, he's around. boy, i can't tell you how many times i heard. that after this. americans work hard.

what if we could keep more of what we earn? trillions of dollars going back to taxpayers. who could possibly be against that? well, the national debt is $20 trillion. as we keep adding to it, guess who pays the bill? him. and her. and her. congress, we should grow the economy. not the debt. ♪ . . . . [lance] monica, it is absolute chaos out here!

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♪ neil: all right. the buying ahead of the voting? it could happen as soon as tonight in the united states senate. we'll hear from republican texas senator ted cruz at 4:00 p.m. on "your world." the fallout what could be additional voting on saturday 10:00 a.m. eastern time on fox news channel. we have got you covered every which way. no matter what it happens, and what happens, we're there. overtime, that is part of how we spend our time, america.

you're welcome. was that dramatic enough? >> a little. neil: a little. trish regan with the market. i leave you in good market hand. trish: on capitol hill, senators debating with changes to republican tax bill. early as tonight, everyone, we may have a vote on this bill. so what does it do? sending the dow to record highs! all these renewed hopes that tax reform is in fact going to get done. that is going to mean food things for american corporations. i'm trish regan. welcome to "the intelligence report." you know hot market has to thank? senator john mccain, who announced today he will vote for the tax plan but there are a few holdouts, nonetheless still including some who want lower corporate tax rate and some that want it at 22%. we know the