is has been fission as it will be. lou: once he signs it, it's law. ed: the democrats will make it their campaign issue of 2018. lou: to hell with the democrats. they haven't done anything right since hillary ran for president. humaner had to back off his salter of brimstone he conducted for half a year. then he decided he had no other act so he went silent. i think it republican party have the wind at their back just as soon as he signs this bill. i think it's a remarkable period for the republican party. ed: i just promise you we have a long, hard election ahead of us. lou: here is what i'm going to

do sit hearing in 2017. i am going to bet you that the house is more republican and the senate is more republican as a result of the mid-term elections right now. >> the senate could be. lou: we have a bet? and we'll set the terms of that bet. would you like him in on this action? ed: no, i just want to watch. lou: you are such a careful man. ed: he's a journalist he has to wait for the facts before he writes them. michael: i spent my life in daily newspapers. lou: this president i think has the wind at his back. i think the republican party does, and the national left-wing

media are just about to discover how strong a wind that is. we'll continue here in just a moment, and what do we want to do here because we are waiting on developments because first of course for the senate later tonight to pass the thanks reform legislation. house has passed as i said the first major overhaul of the tax system since 1986. and i keep hearing producer who are so faint that i had no idea we are going to chad pergram. vice president pence will be breaking a tie if need be. fox news senior producer for fox news, chad pergrom. >> we are about 3 1/2 hours away

from the vote in the senate. this will pass. we don't know the position of jeff flake, the senator from arizona. he voted yes a couple:weeks ago. with 99 senators voting. john mccain is absent. they don't expect vice president pence to have to break the tie. even though this has to go back to the house of representatives tomorrow, they have passed this bill no matter what. you may have heard chanting and roaring. there are a lot of protesters in the capital protesting against the tax bill. there were several arrests and we might have some arrests later tonight when they go to that vote about 11:30. lou: how long before the vote did you say? >> we are thinking around 11:30.

i am told they are booked for speakers on the floor until 11:00. close to 11:30 they will start the second part of the vote. the time nusmght s. senate is not swift. they allot 15 minutes for a vote. injury and booking times it will stretch out to 15-25 minutes. lou: is there anything besides a simple test of stamina requiring them to book speakers? you make it sound as if a great public demand is being met. how many speakers are there? >> this is a chance for senators to get up and talk on the floor. they didn't get the bill until 3:30, 4:00. that set into motion 10 hours of

debate. a bill of this magnitude could cake severals if not weeks. senators can talk and certainly senators from both sides of the aisle are having their say on the senate floor. lou: i cannot make out who is at the lectern. senator sherrod brown. >> democrat of ohio. he's in play this year 2018. swing state. mid-term. lou: he's going through the most of interesting antics with the low arm movements. i cannot make out what he's doing. but his jess i cue thraition is

first rate. i don't know about this rhetoric or his speech. perhaps he's imitating bob feller from the 50s. lou: the problem with that is he's not coming over the top as i recall those pitchers determined to do. chad, he will be back with more baseball, more sherrod brown and i suspect a lot of other folks in the course of this evening. >> bob scel a and herb score, too. lou: our next guest says tax reform will deliver americans the tax reform they voted for last november. congressman mark meadows is the

chairman of the freedom caucus. it's great to see you. congratulations. >> it's great to be with you. we are just a few hours away from an historical moment on the senate floor. but as it comes back and you have been reporting on that this evening. as it koments comes back to the house tomorrow, as it comes back to the house tomorrow. you will see jubilation as we vote once again in the house tomorrow. lou: do you find there could be great universal justice in the fact sherrod brown is opposite you on the screen? he is going through antic after antic. i love his enthusiasm for whatever it is he's saying. as you dominate the conversation with whatever you wish. >> you are very kind there, lou. one of the great things, about

all sherrod brown can do is make a lot of antics on the senate floor because we have the votes to make sure we allow the american taxpayer to put more of their own money back in their pocket to spend. the votes are going to happen. i was with the president today. he's excited about signing this into law. he believes not only is he delivering on a campaign promise. but he's been actively engaged personally to sell this to members in the house and senate. if anybody under estimates the ability of this president to get things done, he looks no further than this historic moment on tax reform. lou: i'm told by one of our producers that sherrod brown is talking about the allocation of the tax cuts which i infer to mean 23% of the total tax cuts going to the middle class. sherrod browns seems

enthusiastic about that. i would say since he is a big critic of the president and the plan. >> well, sherrod has another election he's running for. i can tell you i have talked to manufacturers in his home stated who are so excited about the fact they will be bringing jobs back from overseas to the united states because of this particular tax bill. but it's also those middle income wage earners. what they will be able to do is see relief and real tax cuts. i find it interesting we have to change the name of the tax bill because of a parliamentarian on the senate side. i have never seen that to be something that would be under the purview of a parliamentarian. but we are changing the name of the tax bill. what we perhaps need to say is this is about cuts cuts cuts and

making sure the american people benefit in an unbelievable way like never before. lou: one of the things i'm getting a kick out of. customer rod brown -- sherrod brown is standing there talking engagingly and he keeps back up toward the double doors, then he goes back and even opened the door as if there is something behind that door that we need to know about or perhaps is about to enter through those double doors. the suspense is amazing. >> perhaps he's going to bring in a prop to the senate floor to describe what nancy pelosi did earlier on the house floor. it's all about his message, a message they roll out each and every year saying it's only going to benefit those at the top of the income bracket.

i can tell you that's noted the facts. someone who makes $73,000 a year, their average tax cut will be over $2,000 back in their pocket. it's all rhetoric. the campaign of politics, give to one, take away from another. this will be good across the board. lou: why would we not open up the screen to congressman meadows in its entirety so we could conclude our discussion without the distraction of the senator who is note microphoned and frankly i am tiger of trying to divine his intent and his message. he's done a brilliant job of it. >> live tv. you are getting it first. just a few hundred feet from me is sherrod brown going through

his antics. i will try to make sense of it from here. but it's hard to make sense of what the senate does. generally they take more naps than votes. lou: if you are going to pile on the senate even before they vote, a man of courage you are. we'll listen in this law isolated instance. it's great to see you, congratulations on a great day. by the way, i picked this up with chairman brady. there is no chance you all organized this parliamentarian shift in the senate so you could get another vote for tax cuts or as kevin brady it, the on thing better than voting for tax cuts once is voting on it twice. >> we knew there may be two or

three small glitches. they are not fatal to the bill. the administration was aware of that. for the american people and the markets, tomorrow mid-day we'll be signing this and sending this bill on to 1600 pennsylvania avenue. lou: we watch the market like hawks here. and i'm look for some considerable celebratory rallies in the markets tomorrow across equity, bond, commodities, futures, you name it. i love this. i love congratulating the heck out of you guys.

lou: the push for historic tax cuts goes on. >> the bill is going to pass and go to the president as is. this is significant thanks relief. and equally important we are going to give american business a chance to compete globally. lou: we take it up with steve forbes. how important is this vote to american competitiveness and our destiny. that and more after the break. stay with us.

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lou: joining me now force media chairman editor-in-chief, steve forbes. we'll see the senate vote through as the house has already, tax reform, tax cuts, the largest since the economic

recovery act of 1986. some of us go back that far. how big a difference do you think it's going to make to the markets and economy. we are look at the most of recent reading on the 4th quarter gdp. it's right under 4%. steve: what this bill will do is we'll get revving up business investment. in order to have a higher standard of living you have to invest more. this so-called recovery of barack obama's marked by tepid investment. consumers will get a boost, business will get a boost and this will mean in the next two or three years, wages will go up. not only will most of people keep know what they earn, but their paycheck is going to go

up. it's called raises. something we haven't had a lot. lou: wages moving up 2% over the course of the last year. but the trump effect on this economy, we need to see sustained wage growth and sustained job creation and we need to see the middle class moving up, growing, not contracting as it has the past 20 years. you are going to see that. people dropped out of the workforce will start to come back in. you will read more stories about labor shortages. oh, the fed, is the economy getting too hot. lou: the president is fully appreciative. the impact of his call for the

building of that wall on the southern border, constraining immigration into this country when we need to do with building jobs for americans, hire america, buy american and america first. steve: you are going to see when this economy really novels, that's why they are going to have to beef up the border. you are going to see more people trying to get into this economy. lou: we'll see the impact of it. we saw that 2001. we saw job creation the most tepid in the face after tax cut. we saw the export of manufacturing jobs that are now returning under trump. because of the influx of illegal immigrants who were competing for urn skilled positions within our economy of and the result was testify i'd.

hiring for americans. steve: what you are going to see now, getting this corporate tax rate down to 21. you will start to see immigrants coming in. you will see some of that. but capital flowing in. we have the best economy in the world. the best legal system in the world. lou: you are talking about a meritocracy bringing in skilled, educated migrants who would augment our work force. steve: yes, and we know who they are. but in terms of the economy, we need an investment boom. this is a step to it. amazingly the past couple days, the bill got better. they took out a lot of bad junk. they had in the house provision 20% tax for companies that brought in stuff from overseas

make their stuff here at home. it wasn't suppose to still be in there. on the house side, we'll name no names tonight because we are in a celebratory mood. but they took it out. and that's a good thing. on the individual side, and that's what i hope president trump says when he signs this bill. this is a down payment. we'll do far more for individuals in the next rounds. lou: one of the great surprise and i delights after he waiting most of people of is they do not appreciate what the president has created here, the repatriation of capital at a rate that will be good for the treasury, for corporate investment, investment in if equipment in this country. it's going to be powerful.

very powerful. steve: its will be powerful. with these low rates there will be every incentive to put the money to work instead of just buying back stock. making capital, putting capital on steroids. maybe i shouldn't say that word. lou: heads are only a problem if you are playing amateur sports. steve forbes, great to see you. steve: i'll be staying up tonight. i want to see this happen. lou: i'm going to stay up as much as i possibly can. up next, republicans looking to deliver president trump a victory on taxes. the senate set to deliver the biggest tax break to the economy in decades.

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#r . lou: chuck grassley calling for deputy director of the fbi andrew mccabe to step down because of a number of conflicts of interest. they now scrutinize two anti-trump texts. one email from strzok referring

to a meeting in andy's office discussion an insurance policy against donald trump gaining the presidency. mccabe's wife pocketed $700,000 in campaign money as she ran as a democrat with various groups affiliated with hillary clinton at the same time mccabe was investigating clinton in her seem scandal. why does every inspector general take so long to come up with what should be simple conclusion. it was mccabe investigating the russian bribery plot with uranium one. joining me former reagan political director and fox news contributor, ed rollins.

ed: the attorney general is not exclude from this. he can sit down with the deputy director of the fbi and the new director of the fbi and say what's going on here. senator grassley is like a bulldog. when he gets ahold your leg, he will chew it until it comes off. this investigation needs to be in the open. what was their plan? lou: do you think it american supreme had a belly full? lou: any time they say inspector general it means you won't get a straight answer to your question. ed: we spent many years trying to rebuild the fbi after j. edgar hoover. lou: i get, the fbi and the justice department is great. but the truth of the matter is

the leadership of the fbi and the a.g., they are rancid with corruption. ed: certainly bad judgment and corruption is a good term to use. lou: what are we going to do? ed: if you wait for the inspector general it will two years from now or mueller will be at least a year. or the attorney general to fire them. he's the boss of that agency. lou: he's been absent. ed: since inauguration day. let's turn to tonight. these tax cuts. how important do you have think they are for the president, for the republican party, their chances in winning the 2018 elections and consolidating their control of both houses and the white house? >> i think it's very, very

important it's a monumental under taking. they did the with severe opposition on the other side. it will benefit people. people will see it quickly. by the time we get to november, i think republicans need to talk about this every day and argue, democrats didn't want it. we wanted it. it's a win that will benefit this country i am measurably. lou: do you believe the * has successfully fought through the noise, the ignorance and the efforts of the left to subvert his presidency? no president in history has done as well as he has with the markets -- with the economy, no president has reversed the decline of a country's foreign

policy, this country's foreign policy as has he. it's been a remarkable performance throughout a time he's engaged in seemingly hands to hand * combat with the national left-wing media and the deep state. ed: nobody likes to fight better than he does. he reminds me of harry truman. harry truman at the end of the day was one of the great presidents of this country. he wasn't at the time. trump undid all the junk obama did that most of people didn't understand. every day something new comes out pushing the iran deal. lou: this not a single instance in the obama presidency in which tbailsd an issue he did not decide on the side of the radical islamists. is there not an exception to that that i have been able to

find. ed: he came into office as a social work and spent every day working as a special worker. trump came in as a businessman and every day he's acting like a businessman and a leader. and people around the world may not love him but they respect him and that's a very good place to be. lou: up next, we are awaiting the senate vote on president trump's historic tax reform legislation. >> new year's day america will have a new tax code for a new era of american prosperity. in february, february 1, look at your pay checks. you will see the tax relief we delivered today. >> we'll be analyzing the impact of the bill on the middle class with matt schlapp. he joins us next. we'll be right back. i am totally blind.

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lou: congress is nearinged the finish line on the largest tax cut in four decade. the house passed the bill in a 227-203 vote earlier in the day. but then something happened and the parliament area in the senate didn't like it.

three provisions in the bill, one that would allow parents with college savings account for home schooling violated senate budget rules. the house will be voting again tomorrow on a final bill. we are told to expect that sometime after lunch tomorrow. joining us tonight is matt schlapp, chairman of the american conservative union. watching with great interest as all of this history is being made object capitol hill, matt, let's turn to this parliamentarian who has such awesome power over the senate and the dispatch of legislation. your reaction. matt: i think we might need a new parliamentarian, personally. every time a piece of legislation go to the the senate, the parliamentarian

likes to get their fingerprints on it. it might have been better to start in the senate. it looks like amateur hour that they have to go back to the house. but it's been an interesting year and it's going to end pretty. >> when you think of where we were with all that was going on with general flynn, the transition team, all of the aspersions against the trump campaign by the left, let's be straight ahead forward, by the establishment left as well as the establishment right, the deep state, the intelligence community assailing this president to think where we are now and what he has withstood, and by god, president trump has given as good as he has had to take. >> it's something we have never seen in this country. i don't know what it was like in our country's founding.

all we can do is read. it couldn't have been as nasty against one singular figure the last two years it has been against donald trump. >> you look at andrew jackson. there was a man who was under assault constantly. i often wonder how it worked out for a lot of people if president trump had had the right to settle some of this. first of all, i would manage most of -- i don't think most of people would have even entertained the prospect. >> we have modern forms of it now, lou. >> the modern for allows a pencil necked geek who is basically afraid of his or her own shadow to run and hide after committing acts of dishonor against the state. i don't like the modern form too

well. matt: when you talk about the swamp, to me, i have had a lot of government experience, i have been in this town too long. when you have a republican president like donald trump trying to change the way politics works. if the bureaucrats and agencies who push back mostly anonymously with their friend in the left-wing media. it's you are biggest problem in the country. lou: the pope coming out against fake news. it's the first time i have seen the pope line up behind president trump. saying it's a sin to be rehashing old stories, to be acting as they have. it was really quite a statement

on the part of the pontiff. matt: definitely. i'm obviously a catholic. i would say stand up for my liberal pope. lou: you mustn't do that, matt. matt: my mom is watching, lou. you look at the trump attacks on the swamp and fake news and the liberal media. over the course of the year he's winning these arguments. he's winning the arguments that the special counsel investigation is out of control. he's right about the left-wing news and the fact they are out to prosecute him and get him. even the pope must be listening. lou: even the pope should be listening. i want you to give your mother a hug for us and convert her because that's what needs to be

done. let's bring everybody together here. matt: what about the truth? it's all about the truth in the end. they say this meter and that meter shows donald trump is less than honest and it's completely wrong. lou: what meter are you talking about? he has been right and truthful throughout and the left are the lying sobs here, matt. matt: do we trust the american people to get it right in the end? that's why i'm proud to be an american. lou: i don't get the question. matt require's a rhetorical question. we are both proud to be americans. lou: we are talking about america being reclaimed from those who would subvert a president duly elected. matt schlapp thank you so much.

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lou: joining us now, fox news legal analyst gregg jarrett, we have a few things to take up

with the deep state and the special counsel. let's just get to this point. are we going to see a resolution of the special counsel himself, bob mueller? or will it simply have to go to it own conclusion as he sees fit. gregg: as he sees fit. historically they generally go a couple years. one independent counsel said there is no there there. but special counsels feel so invested in spending two years, they feel like they have got to nail somebody, even though there is no crime. lou: the crime that has been pursued is the crime with gates and manafort, and their handling

of their consulting business 10 years ago. gregg: exactly. none of it has to do with trump-russia collusion. the guilty pleas are of the least egregious of crimes there could be. there is generally no prison time for flynn and papadopoulos. there doesn't appear to be trump collusion in those two cases. lou: we still have the investigating committee. senate intel, house i tell, continuing along with the special counsel, the fbi is still engaged, and not a single -- i can't say this often enough. not a single iota of evidence has been produced to even intimate collusion of any kind. gregg: no trump-russia collusion

but there is evidence the fbi and the department of justice colluded to clear hillary clinton and try to frame donald trump. they launched an investigation without a scintilla of evidence that he ever excluded with russia during the campaign. where was the crime? in order to launch the investigation you have to have a suspected crime than was none. the same thing with the appointment of robert mueller. there has to be a suspected crime. but when he was appointed, there was none mentioned in the papers of appointment. >> it's clear madness we have embarked upon here. i think the president is in amazing good humor. he said repeatedly, i did nothing. >> as of five minutes ago andrew mccabe is still being questioned behind closed doors by the intel

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lou: joining us tonight fox business' deirdre bolton and mark simone. we are going to have the house vote again tomorrow. mark: sync up the two bills. you think that would be the easy part. lou: the full expectation the president would have failed on the part of the left-wing media to get this done. dierdre: and by christmas. not since 1986 have we seen something so far reaching. and for corporations by all accounts this is a pretty healthy measure.

lou: it's a great measure by middle class accounts. mark: to not have a suicidal tax rate to get repatriation money will mean a lot to this country's economy. lou: this is going to be a test of corporate leadership, not the president's. dierdre: we'll see what companies do with that money, if they hire american when they repatriate. we'll get booed when we go to ireland because these countries have been friendly to ibm. lou: it's about putting america first. who cares who is booing out there. mark: all they will do is drive up stock prices. lou: china is going to have a

snit fit. he keeps talk about 3% economic growth. president trump is posting 4% growth. he's talking nonsense as if he's got a new idea. the man hasn't got a new idea at all. trump is the only one with a new idea. if you don't think bitcoin is the biggest obvious fraud and bubble right now, i don't know what it would take to convince you. mark: bubble yes, but the money will go digital at some point. the deep state, the swamp will see everything you have ever spent. there will be a record of everything. biggest invasion of privacy ever. lou: do you put you down for or against the bubble.

mark: if it pulls back a little i will buy it. i think it will be huge. lou: big, i mean big. dierdre: even though he spends a lot of time in philadelphia, my former hometown. i think the block chain will be big. lou: i think it's wonderful. this is what makes wiser people of us all. when you see this. and this is so clear-cut that it is to me a delight to watch. i would love to be wrong. dierdre: you are going to assign that to mark and myself. thanks for being here. meanwhile, more history to be made tomorrow. thanks for being with us. deirdre bolton, mark simone.

tomorrow night congressman sean duffy among our guests. he was a lumberjack. a great lumberjack. kennedy: the president taking credit for the nation's booming economy. plus robert mueller. it's time to get kicking. sometimes it seems the president can do no right. but that doesn't matter as long as business is booming, wages are up and people are working. remember when candidate trump said this? >> if i could snantd middle of fifth avenue and shoot somebody and i wouldn't lose any voters.