we have so many people involved in the housing policy. they have got to get in a room and finish that. if they do that the cost of mort gainings will go down for everybody. jp more fans economy estimated if we had don't right thing, not going to subpipe, just opening up the requirements we might have been doing a half trimore a year. a year. that alone is .2% growth a year. that's one of the first things the administration can do to help immediately. make mort gainings more accessible and cheaper for everybody. >> announcer: jamie dimon hasn't always been the president's biggest advocate. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪go your own way copd tries to say, "go this way."

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maria: you are the chairman of the business round table. what does business want to see in terms of policy. jamie dimon: the first thing was competitive tax reform. they said we need for america to stay competitive. we got that. the next things are on the administration's agenda. infrastructure reform. it's complex. faa and highway state taxes and local. education. smart regulation. and while we do this, we should do things to help the people america left behind. i think we should expand the earned income tax credit. maria: the criticism on both side is getting in the way. the infrastructure plan. do you think these two sides can

work together and get something done? jamie dimon: i don't know. but they should. if they are americans and patriotic. infrastructure, democrats and republicans all want. bra are you prepared to finance some of these infrastructure programs? jamie dimon: if you say the highway tax credit, they will get more building into highways. financial institutions, we'll do more financing. but we would have to change the policies and procedures to get that done. maria: that's jobs. jamie dimon: so is the mort a gaining thing. if you do infrastructure a million to 2 million jobs. well-paying jobs. maria: what would a denationalization of fannie and freddie do?

would you expect a change? jamie dimon: i think it's hard to do. to me it's not whether fannie and freddie are public. in america you have public or private is not important. by the's important it be protected from political interference. when fannie and freddy were created. maria: they took away the salt deduction. you are a new yorker. you lots ability to deduct the state and local taxes. was that the right move? jamie dimon: it should never have been there. the american public, 80% of the

cash benefit goes to people who make over $500,000 a year. in new york, my state, we spend more money than the federal government. of course. that was meant to be part of the federal system. by increasing the standard deduction, i haven't seen a real analysis. it's the 30% making over $200,000 that won't get to keep it. maybe they will change it. answer that question but start yelling and screaming about what's good for me. especially if you are a patriot. we have all these flaws in the system as people protect their own special interests. maria: it will be more expensive for you and me before it was

right thing to do. jamie dimon: they also cut the top tax rate. by the is what it is. maria: with you were asked recently what you thought his tenure would be and you said another 3 1/2 years. jamie dimon: i wish i hadn't said it. that's not my job. my job is to get good public policy done and help finance cities. i'm not a political expert. maria: you don't know if he will be a one-term president or not. jamie dimon: of course not. but the things about the democrats. they will not have a chance in my opinion if they don't have a strong centrist pro business person. the american public is not clamoring for more government. they are angry about the

bureaucracy and the va. pet projects for people. so both sides are right. we have done a lot of things in america that didn't work. but we haven't analyzed what didn't work and try something different. maria: you are right, there is no centrist candidate. what about oprah? jamie dimon: i didn't see the speech, i heard she did a great job. jamie dimon: the block chain is real. you can have crypto dollars. the bitcoin was what the government -- i have a different opinion than people. i'm not interested that in the subject. i'll leave that to everybody else to figure out. maria: 30% of millennials say necessity would rather invest in

bitcoins than bonds and stocks. i don't know. that's the thing, young people are into bit coins. real quick on markets here. with this tax plan and savings on corporate america, would you expect the flow to continue and pick-up in ipos? jamie dimon: i think so. most of companies want to grow and expand. that's mostly natural to state. so i think you will see that. and having a competitive tax rate it will enhance that a little bit. they have been lower than most of people think.

i think there will be a point in time where it will go faster than people think. but it wouldn't surprise me if sometime in the next 6 to 9 months, because of a strong economy, that's so kay. maria: you mentioned the rest of the world growing. jamie dimon: china is accomplishing 6 to 6.5. but the second largest effectively is europe. no one would expect europe to be growing at 3% and it is. this new french president is young, dynamic, he wants to fix the problems. he's pro business and pro enterprise. he realized you can't help your countrymen by damaging the economy. maria: our special thanks to

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maria: one of the great debates and challenges in the healthcare industry is how to get affordable drugs to the consumer while protecting the company's bottom line. the fda is helping to speed up the drugs approval process. >> i think importantly what everybody is trying to figure out. and i do think the debate and discussion has evolved quite a bit the last 12-18 months. at the moment they look

uninsured until they reach this deductible. plus getting the benefit of their insurance as they do on the medical side of the house if they get a treatment or explanation of benefits. maria: we had allege interview yesterday that said as soon as people get their tax refunds check, that's when they go the doctor. so they are putting off going to the doctor because they don't have the money. >> we have to insure that the consumer gets the benefit of the insurance. the supply chains competitive. we are paying rebates into the system. every pharmaceutical company is paying rebates into the system. but they are not being transferred to that patients. so the patients is not getting a

benefit of a rebate or the negotiating that's taking place. maria: let me talk to you about the new fda commissioner, dr. gottleib, is he moving the approval process along getting drugs out there? he had a focus on come snreks generics. he talked about wants to go focus on the first to market generics that are important for the consumer and the patient and the system. we have seen a rise in generic approvals and an uptick. maria: we have been talking about the tax plan and what that means for the bottom line of corporations. you pack inquired meda. are you interested in using some

of that savings to do another big deal this year? >> we have been steadfast on paying down our debt. our balance sheet has never been stronger. we just finished a $billion dollar share repurchase program. maria: i also spoke with the ceo of merck. and when i spoke with ken frazier he gave me an update on the progress they are making in the fight against cancer. >> if the american cancer society put out data showing the death rates of cancer has declined by 25% since 1991. a large part of that is the kind of treatments we have. these are the leading killers.

prostate cancer. keytruda is approved for newly diagnosed lung cancer patients. maria: you have got such an incredible performance with that drug. but people want to know if you need to make that business bigger. you have got a tax plan putting more money in your pocket in terms of corporate. >> the most of important thing about the tax plan is it puts american companies on an even playing field with our outside u.s. competition. that's really important. with respect to the money that can be repatriated at reasonable rates, i don't think it will change our strategy. we have always been a company look for good science and acquisitions that would allow to

us innovate. i don't think that's going to change our strategy. before in the united states we had access to enough capital to do the kinds of deals merck was looking for. maria: the last time we spoke we were in an environment where bio techs were soaring. we were joke about how expensive they had become. they have come down a bit. is it time for you to acquire a bio tech and make that technology base bigger? >> we'll continue to look for those opportunities. but we want to do it in a financially disciplined way. i think valuations have to be consistent with creating long-term value for your shareholders. if you overpay for an asset it's hard to make money on it. maria: how can you not overpay when prices are up significantly

right now. >> we had a drug for ovarian cancer. we spade $1.5 billion and 3/4 of the payment is tied to sales or approval milestones. maria: amazon securing getting into the prescription drug business. is amazon the new company to worry about within healthcare? >> we are in the business of inventing new drugs. that's the distribution side. it could be helpful depending on how it rolls out. the critical issue is the one we talked about before. how do we get more efficiency in the distribution system. maria: our thanks to merck ceo

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maria: a look at some of the events coming up that could impact your wallet. the markets are closed monday for martin luther king, jr. day. then there is a full week of earnings. a huge week for big bank ex. goldman sachs, charles schwab, and bank america. on the political front the threat of a government shutdown

looms. politicos have to agree on military spending, perhaps a daca deal. we'll see if that includes the funding for the president's wall. join us the founder of private equity group cliff hutchins. tune into the fox business network next week. we'll be open for business. thanks for joining us. i will see you next time. julie is living with metastatic breast cancer which is breast

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>> lou: good evening, everybody. president trump today making his immigration stance clear with there must be a border wall or no deal with daca. that is a tenant of his campaign. and dems and rhino republicans trying to drive him in a different direction yesterday. among our guests. congressman andep biggs. he said the wall must be built before congress passes daca legislatn.