despite most report are suggesting that we will get out of the iranian deal. that was supposed to send crude oil prices higher. good chance we're seeing selling on the news. a lot happening today. don't change the channel. here is neil cavuto. neil: let's get a sense what we do make of this. this is coming from varying published reports that the president is about to get out of that iran deal but he won't add sanctions to it. in other words, it would be sort of a slow retreat. if you accept that at face value, it gets kind of complicated here, it means we really, really hate iran, we just don't hate them as much as earlier thought to be the case. we want to stick it to them. we don't want to stick it to them to the extent it would dislodge the global, political and energy picture. hence this idea, if no added

sanctions would be put in place, we may be stave potential pain at the pump. not that that is an incentive or impetus for the white house and others looking to redo this deal but it is out there and it is easing the concern. keep in mind among opec producers, iran is the third largest producer, about 2 1/2 million barrels a day. you curtail that available supply with demand we already have, prices presumably go up. they have been going up ahead of this, in anticipation that the president would rip up the agreement much he still might. indications are he is poised to do that in a couple hours. he wouldn't completely tear it up and wouldn't be vindictive about it and pile up new sanctions. if we keep with that, it means this. the markets can step back, sort of stablize, unless all hell breaks loose. have i explained it? because i barely understand. that is the way it was explained

to me. ali, if the president wants this middle ground he avoids a panic in the oil markets but he doesn't guarranty that, right? >> yeah, definitely. i think you actually explained it very well in a very simple way. i think that is why he is probably walking this middle ground. he wants to fulfill the campaign promise pulling out what he said is absolutely terrible and outrageous deal that helped america in no way and probably funded state-sponsored terror in the middle east. i think he is a right to pull out of it. but for the very reason that you listed, he probably doesn't want to cause the markets to absolutely freak out. this is an attempt at some kind of stabilization. let's hope it works. neil: liz, there is another way to look at it too. just say, since we're told, "the new york times," that he let his decision be known to emannuel macron of france, that this was kind of hinted, but it gives him sort of like a flexible way to let the iranians

know you're on notice. but how much so? iranians have already gotten billions of dollars. they have gotten pallets of cash number of years back. they have very little incentive to change their behavior if in fact they are cheating as the president and now the israelis allege? >> right. it is unfortunate because the main part of the deal, everything that we already gave away is already been done. the billions and billions upon dollars went to the leading state sponsor of terror any ran for basically nothing in exchange except a deal on paper. but the problem here is, what we see now is that trump, a while back i'm closer to getting cabinet i want. he is getting the cabinet he wants. he is doing what he said he wanted to do from day one which is to tear up the iran deal. this is a big step and it is happening because he brought in pompeo from cia to lead the state department and brought in

john bolton. both are really hawkish on iran. i wouldn't necessarily rule out sanctions in the future because he has a team around him that agree with him, that they need to project strength against iran. neil: ali, you look at this on multilevel air view here, right? the president is also trying to send signals to north korea, its leader meeting with the chinese leader overnight and that, we're tough but we can be kind of flexible, right? >> yeah. i think that is kind of what trump has projected in lots of ways, not just with the iran deal, but also with daca and multiple issues. he puts up, i don't want to call it a facade but he puts up a front of toughness, but he also shows he is willing to negotiate. i think that is what he is projecting now. hey, i will put america first. i will do what i said i was going to do, but i am open to negotiations. i'm open to making a good deal

in the best interests of the united states. i think he is still making himself available for that. neil: you know, step being back from this again, liz, there is a sense here this is a president who is going to question accords. he has done that on trade fronts. i always shown practicing -- practicing maism from his critics who argue that he is a madman throwing again a.i.d.s. i wonder if this is strategy to deal with the north koreans. what do you think? >> allie makes a good point. that is tendency with the trade and terrorists. announces huge tariffs on steel and aluminum. he getting everybody to the table. now we're negotiating with canada. we're negotiating with whole host of other nations. it's a first line in the negotiation process which, i mean if you read "art of the deal," this is kind of trump's playbook.

of course when we're talking about national security and foreign policy, those are a lot dicier issues but so far, we'll see what happens with north korea, i think, we've already seen some big concessions out of them. i mean we'll see if that remains. but i don't think trump wants just to deal just for the sake of the deal like obama did, which, basically gave away the entire store with iran for nothing, just so they could say they got a deal. they sacrificed a lot to get that. i don't think trump cares as much just to get a deal if it's a bad one. neil: we'll watch it closely. your opinion duly noted there. to former state department advisor under bush 43 and now the president, chris -- christian white ton. we don't know what he will do until couple hours from now. i'm not saying he is middle ground and walking away from the deal is walking away from the

deal, published reports are telling that, and how he is walking away from the deal without piling on additional sanctions which kind of stuff eases market jitters, that shouldn't be integral what he does but what do you make of that? >> i think his tone will be professional and presidential. when he walked away from the paris act, climate change act a very good thing to walk away from, he was careful, to say, hey, if europeans offer concessions and different deal we'll talk. with the trans-pacific partnership, another good thing to walk away from, he came back and said he would be whiling to have more negotiation. i think you will see a con soiler to gesture from the president if he pulls out of sanctions. that is important that what goes back on. that caused pain for iran, got them to the negotiating table. they were sort of bargained away flippantly. some sanctions that will stop allies and respectable countries from buying iranian oil will help iran stop benefiting from

the big windfall. neil: i wonder about that christian. say we're going to do this. i'm betting you the french, the germans do not. if i'm iran and i'm sort of counting my chits here, i'm saying well, i have already got my billions of dollars. i have gotten pallets of cash. i've gotten all that stuff. americans will get tough with me but they will not lead an international consortium to agree, so i will take my lumps and deal with this guy? >> well of course we're not alone on this. much of the middle east has been aghast at the conciliation of iran and wants a tougher posture. >> to that point, do you think french, germans and others that signed on to this will redo it themselves? if president trump wants to tear it up, start from scratch, they will. i don't envision that. >> a lot of people are overstilting the importance of france and germany. i think they will come along because they have to. what trump has done in some instances discover levers of

power we had and hadn't used. dollar is reserve currency. oil is traded in dollars even if it never touches the united states. putting on sanctions on the central bank of iran, reminded about this by a hill staffer, putting sanctions on makes it difficult for countries that respectable and some that don't doing deal with iran. they will sell oil to china but but sell it at a big discount think, is president that shows pragmatism coming to trade deals, but sort of wincing at the idea they were made in the first place. so there is a way of ripping one up, versus fixing it or delaying the changes. or, revisiting, let's say nafta. i know there are differences with each and all, but what do you think this signals for talks with north korea? >> i think this is good. a lot of conventional wisdom in this town if you throw away the deal how will you get one with north korea. neil: right. >> if you look deeper in

history, it's a tough posture. it's a confident president that is better. some have said. this is ridiculed by others by firing the air traffic controllers ronald reagan really got the attention of the soviets. who do so again when he walked away from a pretty big nuclear deal at reykjavik. the soviets essentially offered to give up much of their strategic arsenal but they wanted strategic defense initiative, missile defense for us to forgo you're ability to defend our own people from ballistic missiles. willing to walk away, toughness. people at the kennedy school or center for council on foreign relations their view of negotiation is sort of to make preemptive capitulations go, nice, nice. this tougher posture that is what kim jong-un will understand and helps with north korea. neil: you know there is a very dramatic display at the reagan library what you spoke of, chris, that was a quick add-on president was unaware, soviets saying you, the united states

will stop this whole space initiative thing. reagan had no idea, that was the understanding, had no idea. well, that's it. good-bye. he really was walking away until they said, no, no. so we'll see what happens here. thank you very, very much. >> thanks. great to be here. neil: christian whiteon. we have a lot more coming up, announcement 2:00 p.m. eastern time the president will tell us exactly what he means by potentially walking away from that iran deal. walking away does not mean completely severing everything it has to do with. it's a slight semantic sort of thing with you could make a world of difference to the markets after this. ♪ man: i got scar tissue there.

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neil: all right. the second time in as many months they met again. the chinese and north korean leaders having a little pow-wow. some interpret this as china's way of saying, here is what you want to tell president trump when you get together. be that as it may, the last time negotiations at this kind of level were being pounced back and forth between the countries, was when bill richardson was trying to cobble together a deal with the north koreans. he will be joining us very shortly.

what he makes of this, how this pow-wow is set up with the president of the united states this go-round, that would be unprecedented, if and when it comes to pass, looks like it will. obviously the fact this is getting triangulated is getting more and more interesting. by the way things going on in this country we're keeping an eye on, including first wave of big primaries ahead of still more primaries ahead of ultimate contests themselves in november. we're going through a period of week after week after week of a number of key states holding individual battlegrounds, not only in congressional districts but for the senate, for governorships and four of them, of great interest taking place in west virginia, indiana, north carolina and ohio. as well as a number of congressional races spread out across the country in the dozens. we're going to be monitoring all of that. and also monitoring market reaction to that by the way, there is probably more foreign

market attention to this, even our own markets because they want to get a sense how the this will weigh on the makeup of the american legislative branch in november. we'll monitor that beginning 8:00 p.m., until as late as it takes. with us former chairman of president bush's council of economic advisors, ed lazear, a lot of crosscurrents going on today, the no the least of which republicans taking another stab at that the spending package, including the president wanting to pare a few billions from it, $15 billion of spending from that on same day we're getting hints from kevin brady he wants to look at second phase two tax cut, if you will. they're not giving up on that fight. what do you make of where they stand? >> well the expenditure side is obviously the important thing to be considering right now. we're going spending at record rates and that's going to be our

long-term problem. if you look at the congressional budget office's projection out a couple decades, what they're saying that current expenditure growth patterns we'll be running a deficit 10% per year. if we were to do that. and we tried to close that gap by raising taxes, that would be devastating in terms of economic growth. so we need to be thinking long-term, rather than short-term. any movement that we can make in that direction is positive but the kinds of things are talking about are about 1% at best of total government expenditures. it is really pretty minimal relative to where we need to be. neil: by the way we're talking about what the president wants to do, $15 billion pared off a $1.3 trillion spending measure. that is like me saying i will lose five pounds, the diet is over. the fact is every one knows i have to lose seven pound. i guess you didn't get that.

where is this going? you've been follow it, and worried about the deficits piling up. republicans are supposed to be serious fiscal stewards. they have blown through the debt and democrats have the nerve to point a finger at them and they blew the debt. does anyone think this is serious? >> well, again i would say that most of the progress needs to be made on constraining the growth of expenditures. small cuts right now, again, you know, they're a step in the right direction, but they're not going to have much of an effect. neil: they can't even do that. they can in the even do that. >> that's right. neil: the last time someone tried, you think about paul ryan, god bless him, all he was trying to do was slow the growth of medicare, and he was portrayed in ads pushing granny off a cliff. >> that is absolutely right. usually the progress is made when you reach crisis level. so think back to the '80s, when we did some changes, made some changes on social security. that was because we felt that we were going to run out of money.

that's possible, but again, i think there is some progress that could be made. if congress were to look at this more seriously, think about rules that would constrain them, not a balanced budget. that won't work. you can balance a budget and still spending a huge amount of money, if you tax at the same rate. what they need to do is think about growth in expenditures over time, total expenditures. put some constraints on that, and then fight out how they're going to allocate those expenditures. so i would say that is the biggest promise for the future. again, as you point out, look, none of these things are politically easy but they're politically so important it needs to be made priority. if you think back to 2012, it was the last time, almost the only time i ever heard budget issues being made central to a presidential campaign but we kind of forgot about that we need to get back to those issues i think. neil: yeah, and i believe republicans didn't have a good year that year, the ones who

espoused it. ed, thank you very, very much. ed lazear, always good seeing. >> you good seeing you. neil: ed was on this a long, long time ago. i don't think anyone is listening. i don't care if you're red or blue. we're losing a lot of green. that is a fact. maybe that comes up for voters an issue in four key states, beginning at 8:00 p.m. think about it, fbn has never ever, dropped the ball on importance of these elections, how you think. we recognize the importance of stocks but we realize far more of you, far, far more pay taxes have a vested interest what happens with your elected officials, be they in your states or ones watching them. we're on top of it. months after fox business first went on the air we committed ourselves to covering primaries and caucuses going to the conventions. i can remember the first convention this is network went to. as if we came out of the witness protection program.

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♪ neil: you know i can't keep up with this. before i get to this story, i do want to let you know we're getting conflicting reports whether president trump called french president macron. turns out the french are saying, no, he did not call us. they did not say it like that. my wife knows french. anyway, i don't, but did in the get any indication on the iran decision, whether a phone call transpired or about the iran decision, exchanged pleasantries. bottom line no firm decision was shared in that phone call, if one even happened. say that again, ralph? the phone call happened. so just, if it happened, they didn't exchange any info on

iran, right? is that right, ralph? okay. what they kind of tell me here, gramps this is what we foe now. what we know in about 90 minutes we'll get an idea what the president of the united states will do on indications he is going to walk away from this deal, but, but, not necessarily add sanctions, so insult on top of injury, that would be deleterious, oil prices in other words, would rocket under that environment. right now they're sagging. we'll keep an eye on that. there is another development, new york attorney general eric schneiderman resigning amid the physical abuse allegations. connell mcshane, has more on the story. it came out of nowhere. reporter: moving speed of light. broke before 7:00 last night, schneiderman was out, resigned before 10:00. brief recapallegations themselves. four women accusing non-schneiderman, non-consensual

physical violence. he tweeted in the privacy of intimate relationships i have engaged in role playing and other consensual sexual activity. i not assaulted anyone. i never engaged in non-consensual sex which is a line i would not cross. not long after that he resigned. new development, manhattan d.a., cy vans, is opening up a criminal investigation. which may be a story. looking the way schneiderman handleed the harvey weinstein case, whether he may have have a conflict. governor cuomo called quickly for schneiderman to get out, spoke about the importance of this office. >> the attorney general is a very important position. as you know i held that position. it's very powerful, it's very important. it's even more important today in some ways because of what is going on in washington.

this attorney general can be a counterforce to the federal government and what is going on in washington. reporter: all right. to cuomo's political point. the ag of attorney general has been referred to around this state as aspiring governor. cuomo as he pointed out came through the office. eliot spitzer came up through the office to be governor as well. the way that it works now that schneiderman is out, the solicitor general of the state, barbara underwood, she is in charge, becomes the acting ag. the state legislature can pick a temporary replacement for schneiderman. would be only temporary. it would be matter of months. he was up for re-election in the fall. big names are, kathleen rice from long island. former u.s. district attorney from southern district, preet bharara, his name come up. whether either will run we'll

see. neil: thank you, connell. judge, andrew napolitano, this guy was integral, and his name integral, his name attached to wall street related cases harrassment cases you name it. >> many of the challenges of the trump administration which were waged by state attorneys general, he is the lead challenger, meaning his office prepared the papers and his office does the work and the other attorneys general, like our home state of new jersey, just sort of hopalong for the ride. i don't think any of that is going to change. i don't know barbara underwood but i would imagine she was his deputy. she is likely to be of the same mind-set and clearly the legislature will pick somebody for the 8 months remaining in this year who will be of the same mind-set. the people will choose who they want undoubtedly a democrat this, is new york, in the election in november. neil: right. so that, whoever that person is would pick up the baton and pursue these cases but, a lot of them would be coming in just, getting familiar with the cases

themselves. they would certainly be some delay, right? >> there is always a little bit of a delay when you change leadership but these kays are really worked, people who do the preparing of the paperwork and the examination of the documents and engaging with adversaries at a couple levels below the ag. this is the permanent class of career prosecutors who, that is not going to change. and the direction of those cases is not going to change. the public face of them will change. it is interesting, though, he attempted to make his mark by going after harvey weinstein for behavior. neil: i know. >> not unlike what brought him down. neil: you know was the face of this whole "me too" movement, if you think about it. >> he wasn't very effective until yesterday! neil: he is claiming, he didn't deny the allegations per se as much this was, you know, consensual on the part of these women and himself.

but where does this go? >> without getting lurid, even weird and bizarre and physically painful behavior consented to by adults as part of a unique relationship is lawful. so if cy vance indicts him, because these events occurred in new york city where he is the district attorney, local prosecutor, it will be he said versus four she said if there is actually a trial. i doubt there would be a trial. this is the type of thing that begs for a plea agreement. because a trial would expose details we really aren't happy about listening to but if he could persuade a jury that these four ladies who profoundly say it was not consensual did consent, he is home free. if they did not consent, facing a lot of jail time. i mean there is not physical violence but -- neil: how would you prove they didn't consent unless you fired

reports prior or no? >> we don't know if they filed reports prior. sounds like they didn't because if we had we would know about it. those reports would be public. neil: some were fairly recent. >> it would be their word, four of them against him. he would have to take the witness stand and deny it. the jury would decide who they believe. neil: the fact it is so fast and he resigned, the governor telling him to, it was, boom. >> it must have been bubbling below the surface and the governor and political class must have known about it. and the press didn't get their hands on it until last night. i have not seen a resignation on the basis of just allegations this fast in recent years. can't even think of one that happened this quickly. neil: you know this is one of the most tawdry cases that the tabloids and newspapers on top of, in your description of what happened, not once did you get even borderline tawdry. which makes you the superstar legal mind you are. >> if you want the tawdry

discussed in detail, where is gasparino? [laughter] neil: exactly. we'll balance that out. judge, you are the best my friend, time and again and again. >> pleasure, neil. neil: voters heading to the polls in among other state ohio, they're very competitive. adam shapiro in the thick of it all in columbus. hey, adam. reporter: hey, neil. a lot of familiar names. for instance, the former senator mike dewine who is now the attorney general is facing off in the republican primary against the current lieutenant governor mary taylor. and this race, they have already spent $10 million just in the primary, those two republicans trying to get the nod from their party. it has gotten a bit nasty at times because taylor, who considers herself more of the trump candidate has gone to all of the president's rallies. there have been three. she even tweeted, why has mike dewine not come to any of rallies? because of the 71-year-old's nap time?

dewine countered in tweets saying perhaps you should lock her up because taylor was ensnared in scandal she used state planes for private business. those two are going at it. john kasich the current governor endorsed taylor. the irony that case i can -- kasich is a never trump per. now turn to the democrats, former governor and mayor of cleveland, dennis kucinich, a fox news commentator at one point. who is running for the democratic nomination against richard cordray, former director of the consumer financial bureau. all of this is in play. there is expectations, reluck assistant to say them because you never know in ohio. people say this will abel weather state. we'll keep an eye on it. back to you. neil: thank you very much, my friend. we look forward to working with you tonight. he will be in ohio as late as it takes to get all the results. by the way we're getting clarifications on the phone call, was it a phone call? what did they say?

emannuel macron's office is denying "the new york times" story they talked about the president's decision on the iran deal. that doesn't mean they ruled out they were talking but about the iran deal. that is a little odd, when you think about it, it is one of the more momentous decisions we're expecting out of president of the united states and one macron was pitching hard to stick to it, fix it, don't nix it, that was his pledge, that was his push. that was the push of, you know angela merkel in germany as well. but apparently they did have a chat but this never came up. i don't know what french is for -- but there you go. that is the official read on all of this. they talked. but they didn't talk about this. we'll have more after this.

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♪ neil: all right.

the white house, passed along that the president has chatted with the chinese premier, xi xinping, probably to find out a little bit more about the pow-wow that the chinese leader had with kim jong-un. it was the second one those two leaders have had in as many months. it was in the city of delion. that is northeast china. hope i'm pronouncing that correctly. you have to take more than a train to get there. that is assuming the north korean leader flew. he has an aversion to planes. i don't know whether the chinese sent a plane. bottom line they chatted, probably a pep talk ahead of meetings planned a few weeks from now, we think a few weeks from now with the president of the united states. let's get the read on all of this from a guy very much involved negotiating with the north koreans during the clinton administration, former u.n. ambassador and so much more, new mexico former governor, bill richardson as well. good to have you back, ambassador. what do you make of that, second time in as many months that the

chinese leader entertaining the north korean leader. what do you think was going on? >> well, the north korean is saying to the chinese, look, meeting with president trump, i'm cooling things down, maybe talk about denuclearization. so, please, loosen them up because they have been biting the nor koreans. the chinese leader who feels left out with the summit between south korea and north korea and north korea and president is saying hey, we're big players here. the post-agreement if you have one with president trump, we have to be a part of it. 80% of your commerce goes through our country, north korea they have had a rocky relationship last few years because the north korean leader, the sanctions on oil and coal, the only one that can violate

the sanctions because of the border trade violations and for the first time the chinese have been pretty much enacting those sanctions pretty forcefully. so, kind of, let's get back together. we've had a rocky relationship kind of meeting. neil: it kind of reminded me of a sopranos episode. there is xi xinping meeting with, what used to be his protege. all of sudden i'm getting a sense he is alarmed, wondering if he is staying loyal or am i misreading that? >> no, i think you're right, neil. i think the chinese have been the patrons of north korea. a lot of their, as i said commerce goes through there. china defended north koreans at the united nations many times, vetoing really tough sanctions, until the chinese felt the north koreans were going too far with their missile tests because they were provoking two of the big rivals in the region, south

korea and japan, into developing nuclear weapons, which china doesn't want. they want to dominate the whole area very strongly. so yeah, i mean there was a view that, okay, my prodigal son, you're going astray. you can't keep doing this and we can't keep sanctions on. maybe that is the gist of the conversation or maybe there is another hidden agenda. neil: in that event who plays the role of marlon brando. but that is a separate chat, ambassador. is it your sense on the iran deal that the president increasely sounds he will walk away from it but not file on to it? by that i mean, slowly retreat but not add sanctions or any of that? that is the way markets are reading. that could be very, very wrong. you remind me in the past, sometimes developments don't pan out the way they are anticipated

but if that were in the case it would fly in the face of what the europeans wanted and those who worked to cobble this deal together wanted. do they break as well with this deal, or do they tell the president, you can go one way, but we'll still go the way we were going? >> well, you know, the president could, with the sanctions say the u.s. is going to keep our sanctions, we're going to put our sanctions back but you europeans, we're not going to affect you. we don't know what the announcement is. neil: yeah. >> therefore the europeans would have time in a period to maybe say, okay, what we're going to do is fix the deal for you. we're going to put sanctions on iran's missile activity. we're going to do, we're going to put sanctions on their support for terrorism what they're doing in syria. the iran government, they're not good and the original obama deal i had wished although i support

the nuclear side they had done a little more on those side issues that are very important that i mentioned. my worry, neil, is that the north koreans are going to say, well, you know, here is a president, four years later, two years later, going away from an agreement he made from president obama. it's a nuclear deal. we want a nuclear deal with the u.s. they may say well, is the u.s. reliable? that is the worry that i have. but we won't know until we see the exactly what the president is going to do. neil: then again, it wasn't a treaty. so it is not as if we're walking away from anything that was traditional sort of agreement between countries, right? >> no, but the reality, neil, you know the iranians, according to international inspectors have complied with this deal for 28 months that the deal has been in effect. the problem is, other issues they have gotten worse, like on the issue with helping hezbollah

and hamas and helping syria and the murderous regime there. neil: ambassador, always a pleasure. thank you very, very much. be well. >> thank you. neil: we're down about 60 points right now. oil not doing a whole heck of a lot. whether that means the markets are prefigured in this is going to be a president walking away from a deal or reconstructing another one anyone's guess. what we know right now they're not exactly alarmed, right now, after this. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges.

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because the time to think about tomorrow...is today. go long. neil: all right, apparently comcast will not accept no for an answer. preparing all-cash offer for a lot of 21st centuryst century f. wait a minute, that's us! susan li with the details. >> looks like comcast is circling 21st century fox assets and going hostile. they are reported to break up already agreed to fox-disney deal. comcast lining up $60 billion, all cash, to buy 21st century tv and film studio, international property assets in india and china. the stake in paycrown analysts european tv operator sky which comcast would merge with its own stake with the hostile bid.

it is higher than the 52 billion that disney is already paying for these assets. comcast offering cash instead of stock which they think will be more compelling and enticing for 21st century shareholders there. is extra attention with earnings for disney after the bell where bob iger is sure to face questions about closing21st capp with a hostile rival bid? disney expected to report a good quarter, good three months of "black panther" and parks working for them. espn still a weak link for them. subscribers cutting the cord. went first century is the -- 21st century is the parent of us, fox business. neil: thank you very much. charlie gasparino is talking to a lot of high-powered people he

wouldn't share. >> first of all, i like the fact of reports. we broke the story last week. you doubted my sourcing on this. neil: yes i did. >> who is your sourcing. neil: i thought you made it up. i didn't doesn't your sourcing. >> all the things you're going to make up a story about your own company. are you crazy? neil: there is another word. >> we broke the story. i did not -- neil: by the way this, is contingent on he said, roberts, brian roberts, on the time warner at&t deal. >> i broke that last week too. neil: fine. can we get past the story now. >> just kills you. kills you giving me credit. neil: kills me giving you credit. >> kills this place giving me credit. neil: because we hate you. anti-italian thing. i deal with it myself. >> i'm sure. neil: let me ask you about that because if the time warner thing doesn't go through with at&t, this doesn't happen? >> well it looks like the judge -- neil: i'm going to tell you

this. you never know what judges and juries are thinking. i remember staying in the martha stewart trial, all the reporters, i covered it every day, the jurors liked martha, they're smiling at her. they would have basically put her in front of a firing squad they could. they really wanted to throw the book at her. we never really know based on questions and stuff. neil: you're right. >> looks like the case is going in at&t's favor. neil: is that green lights this? >> theoretically. because what brian robert has told people if they're going to allow that type of merger, they can allow, we like these assets, that merge hears more antitrust issues for the government than us buying twenty-first-century-fox's assets, we, we can make a bid and we'll get through the courts and justice department. it is interesting, brian roberts is making a play on content here. a lot of people are talking with cord cutting. you heard what she said about cord cutting.

those assets are losing value. brian roberts is taking opposite view people talk with him. he thinks the content play with distribution has a few more years. instead of like a three or five-year sort of time frame before, internet and netflix and everything, disintermediates all this stuff, he thinks it is seven, eight, 10 years, he can get much more earnings growth accumulating content and right types of content, he thinks the sky, studios disney wants. neil: they want 100% of sky? >> they want it all. neil: disney, what custodies any do? >> well, they have to wait until the at&t call. neil: you know what they are going to do and you know what they're going to do and you're not sharing. >> my guess -- neil: this is why we don't -- >> put it out there pr guy from twenty-first century fox nate brown has no comment as usual. the comcast pr guy has no comment. neil: only person you talked to? >> i talked to many.

neil: all right. >> here is what i think will happen. i think we like, meaning twenty-first century fox, i think our ultimate boss, mr. murdoch likes being associated with a company like disney. it is a high-end great company. neil: money talks right? >> here is the problem. even though you own the stock, own controlling shares, it is publicly-traded company, your responsibility is to shareholders. give me credit. say i broke it. come on, come on. neil: "wall street journal" reporting -- we'll have more after this. you have got a got from someone at fox entertainment. >> [laughter] you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. ♪ with expedia you could book a flight,

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neil: all right, second hour of coast to coast i'm neil cavuto very glad you're still with us and thank you for being with us here we're trying to keep on top of this will he or won't he in about an hour from now knowing what the president will do. we've got a confirmation that looks like the president did indeed have a phone chat with emmanuel macron of france and we also hear from emmanuel macron's office that they did not not discuss the iran deal but separately we've got indications that the president is poised to back out of that deal. the question is just in the particulars how you go about it. blake burman is at the white house with the very latest on these cross currents. blake what are you hearing? >> neil reports flying all over the place you're right. we do know that president trump and emmanuel macron spoke by phone. the new york times was the first

to report that during that phone call the president informed his french counterpart he would be withdrawing the u.s. from the iran nuclear deal, reinstating the sanctions that go along with it and adding additional economic sanctions on top of that, however an administration source also tells fox news that the new york times story is essentially not accurate and now apparently the associated press is reporting as well that the president will withdraw so you've got reports from all over the place saying all these different things. here is what we do know right now. the president hates this deal. he's talked about it for years. he's going to outline at the white house next hour at the top of the 2:00 hour, exactly what he is going to do and the white house on this day has not stopped from talking down the iran nuclear deal. here is the legislative affairs director marc short earlier this morning. >> it's kind of hard to think that iran is following the spirit of the deal and so i think the president has been clear about his demands for a better deal and i think that he

will make his case to the american people today. >> the president jumped into the fray as well on twitter this morning, needling the former chief architect of the deal saying "john kerry can't get over the fact that he had his chances and blew it? stay away from negotiations john you're hurting your country." it could have been in response from kerry, in italy earlier today defending the deal. >> iran is living by the iea, the international atomic energy agency, the agency says they're living up to it, and we have the inspectors to know it. why on earth would you voluntarily by choice decide we're going to pull out? >> neil here is what i can tell you up until this moment here at 1:00, at least here at the white house, they have been incredibly tight-lipped about the president 's decision both on camera, both off camera. there are huge international ramifications for whatever the

president is going to announce. he is going to be joined this afternoon in the diplomatic room by the vice president as well, sort of rising this moment, even a higher notch. neil? neil: all right break thank you my friend great reporting as always blake burman, all right so what to make of all of this. the one thing that i'm sticking with right now that this confuses me and i know i'm like a dog with a bone on this that he and the french president emmanuel macron would talk on this day of all days and not bring up this iran accord. former u.n. ambassador for special political affairs stuart holiday and that doesn't make sense to me that it never came up but i'll take everyone at their word that it did not. what do you make of that? >> well, i think it probably did come up, but the issue is today, i think president trump's of course not going to wave sanctions again. the question is does that constitute "withdrawal" or is he paving the way for macron and others who have a plan to

incorporate some of the thins that trump wants to see in there no sunset, ballistic missile development prohibition as well as this funding of terrorists to hamas and hezbollah that's going on, so whether it's a complete deal or whether it's buying time while these sanctions are sort of being considered to give time for a new deal or a different deal. neil: ambassador what do you make of what john kerry's been saying in italy saying it's a bad idea to leave and some are saying he's going so far as to counter-negotiate as to what the president is negotiating with our allies. >> i think it's a tradition not to negotiate against your standing government while you're overseas especially a former official. he's obviously a private citizen now and free to say what he wants but there is one issue he's raising which is we do have inspectors on the ground in iran and at some point the question will be do we lose those inspectors and lose that fact finding ability and i don't think we want to do that but we're going to see what happens.

neil: ambassador, when benjamin netanyahu took to the israeli airwaves last week to detail what he says a treasure drove of information to show the iranians cheated and lied, a lot of people said they might have cheated and lied going into this but they haven't cheated and lied since the implementation of this, who do you believe? >> well i think iran has a long history of problem with the truth and what i think is more of a problem is the fact that this deal that we're in right now has an end date, and we're not dealing with the question of what iran does when in 2030 when this deal is over. that's the real problem. neil: what does that mean, ambassador, that means if they haven't torn up or blown up anything, in other words anything that we said they had, they could simply restart it again, right? that's the fear. >> that's the fear, and i think that's what benjamin netanyahu and opponents of the deal look

at and i think the issue is, you know, whether you can get a new deal where effectively you're dealing with that. i think there is some talk of a sanctions mechanism that says sanctions automatically go into effect at the end of the deal if they haven't complied, but there clearly could be a better deal. neil: you know, i know i keep going back to money matters, ambassador if you'll indulge me though if i ran has gotten the billions of dollars it wanted out of this deal and so many ten s of billions that was frozen now and back to tehran, what would incentivize them to re enter into talks let alone with the united states or anyone else for that matter? i know there's a threat of sanctions and additional punishment all the rest down the road, but they've got a lot of money right now, and it would seem to me at first blush very little incentive for them to go back to president trump and say well let's rework this. >> well they got some of their

unfrozen assets back but their economy is still in a difficult streak and over the long term they'll need international engagement so they're incentivized especially if we start these sanctions dealing with company, european and otherwise that can't dogies with the united states because they're importing iranian oil so there are economic levers still at play here. neil: all right cowen vision this phone call to emmanuel macron notwithstanding this issue never came up, even though you might have that certainly in mind, that the french, the germans and others, you know, don't go the route we're going, that we might go one way and they stick going the other. >> that's very possible, and it's also very possible that the iranians might sit tight during this period where it's going to take 180 days or several months for sanctions. there's another deadline july 11 which is another sanctions certification deadline. everything may sort of be muddled for the next couple of months before it's sort of

declared the europeans and others declare it dead. neil: you know, ambassador, for an ambassador you speak remarkable english and clarity so i appreciate that. thank you, neil. neil: i appreciate that very very much. all right so the big picture view from the ambassador now the money view from these guys because oil prices have been dropping on all of this. why would that be if we're going to get tough with them why would oil be coming down market watch er jarod levy is with us fox news contributor, why is that happening? >> i think because the market has been anticipating the possible withdrawal of the u.s. from this deal for some time and people are taking profit, but you know, we've been really trading today, neil, headline to headline. the deal was on. we're in, we're off, we're back and forth, and traders are like what the heck get me out right now until we get some clarity on the issue. there was one headline earlier today that when that hit the newswire that macron heard from trump that he was going to stay

in the deal but he was just going to put on more sanctions, caused the oil to drop over a dollar in just a few minutes so we're living these headlines moment to moment and nobody is really going to know and i don't think anybody does know until we hear it from president trump himself. neil: i hear and you're right but that doesn't ever get in my way of trying to interpret events as you know, phil so jaro d, if you'll indulge me normally if there's a threat of taking oil off the market or a good chunk of it i think the iranians contribute to $2.5 million of oil a day and we withdraw some of that from the market that's less supply with pretty strong demand and increasing demand oil prices should be rocketing shouldn't they? i know they were rocketing prior to this, but -- >> yeah, you've got to put everything into context and you're correct. they pumped 777 million-barrels of oil in 2017 but they still account for a very small portion of the global picture, and the majority of their client is asia

62% of their oil goes to asia the other 38% goes to europe and here is the deal. right now, crude, i'm sorry, inventory is running at 4.5% higher than the five-year average. in fact if you looked at 2013, 2014 and 2015 our inventories are way higher than those years and 2015 is when gasoline prices kind of bottomed out so from a basic fundamental perspective, gas o loan stockpiles are looking pretty good and consumption and production are in balance . the other thing to remember is may 1 was the deadline for the summer blend switchover, which a lot of times as those factors are switching over we would see a drawdown in production and in inventory. we didn't have that. we've been seeing a lot of build up in inventory. what you get is gasoline prices at the end of the day the markets want the answer. we just want an answer. neil: yeah, i know. >> what's going to happen give us the answer and the markets do move lower. neil: so phil, spell it out on the gas pump and people filling

up ahead of the memorial weekend what we're looking at this summer what's your latest view of things? >> basically if we see sanctions go into place we'll probably see a national average of $3 a gallon and i want to disagree slightly with jarod. really global oil supplies are the tight its they've been in a generation. we can't even afford to lose that little bit of iranian oil if we do and if we do, if they're sanctioned we will see prices spike because of this. neil: all right guys i want to thank you both very very much. it is confusing and sometimes it's a little opposite day, but we'll see how it all pans out, an hour from now when the president details what is expected to be a pullout from that iran deal but that could change too. in the meantime, we are looking forward to these four big battlegrounds going on right now , early primary coverage and what it means beginning at 8:00 p.m. we're picking up on all of this. what i like about it is we have the best of the best reporting on this here, i think it's the best news combination business

team anywhere on the planet. jeff flock is a big part of that he's in west virginia. i like to call jeff and everyone else sort of like our avengers team of reporters and anchors covering alphases" of this battle and some of you say well if that's the case, neil what would you be? well that's an easy one the hulk just think of that. we'll have more after this. into retirement... and a little nervous. but not so much about what market volatility may do to their retirement savings. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they can focus on new things like exotic snacks. talk with your advisor about shield annuities

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no. schedule a complimentary goal planning session today with td ameritrade®. neil: and so it begins tonight, you've got west virginia, indiana, north carolina, ohio, scores of states just a week later, 18 more in the weeks to come and this is the kickoff tonight in senate also by the congressional battles all up for grabs and these are the previewed coming attractions and the epicenter of west virginia our own jeff flock i told you that we have this like sort of avengers team of fox superstars all converging together to cover this. we're trying to think of which character you would be. i've already gotten the hulk, so you can't take that one, but i think that there might just be your own character, you know? like just what do you think? jeff? >> well, you know, for my age

when i think of the avengers i think of patrick mcnee, if you remember? neil: yes. most of my audience has no idea what i'm talking about. neil: we're dating ourselves. indeed. >> i'm in the middle of probably if that's not crazy enough in terms of an introduction in the crazy its primary we've ever seen at least some people think i'm trying to get to patrick morissey, whose the attorney general hang on for that because i want to get him to react to this information we have. first of all here is why it's crazy. guy by the name of don blanken ship, the former ceo of m assey energy, went to prison for a year because of his role in the upper big branch mine explosion, 29 people dead and so he has, you know, become the flash point in this attacking mitch mcconnell as getting money from his china family. he's married to the transportation secretary. its gotten to where they think

blankenship could win this race and lose in the fall to the democrats so the president yesterday tweeted as perhaps you know to the people of the great state of west virginia don blankenship can't win the general election in your state, no way. remember, alabama. vote for representative jenkins or attorney general morissey; we just talked to don blankenship who says people aren't going to listen to president trump on this because he's trumpier than trump. >> doesn't appear to be the case. anecdotally it's the only thing we have but most people say they're not going to let anyone decide how they vote. >> and i've got patrick morisse y now with me live, neil to react to this. mr. blankenship also said if he wins, if he loses, and you win, he won't endorse you. he will endorse representative jenkins but he will not endorse you. what do you say to that?

>> i think it's pretty clear this reiterates what i've been saying all along. don blankenship is not a conservative. don blankenship is barely a republican in west virginia. he's actually a resident of another state and it tells me that he's -- he's a resident of nevada. he is actually chuck schumer's greatest, because he's open- minded to running in the third party that's not what a good conservative or republican would do. >> i want to get to representative jenkins who voted this morning. you guys have been battling it out. you said you'd probably endorse representative jenkins if he were to win but would you endorse don blankenship? >> well i've said i'm going to wait until the end of this process with don blankenship. i don't think he's a qualified credible candidate and yet i want to make sure that i'm the nominee and i can tell you one thing for certain unlike don blankenship whose entertaining supporting joe mansion, i absolutely oppose joe mansion's

re-election and i think we need to nominate someone who can beat joe mansion not someone today before the primary is over thinking of supporting him. >> i appreciate it, attorney general morissey here in the down of berkeley springs. >> in morgan county. >> important to him, beautiful day. this is a primary that is a semi -close primary if you're a republican you can vote. if you're an independent you can vote in the republican primary but if you're a democrat you can't switch over so there won't be any of that foolishness going on and i leave you with this, neil. we'll decided to the voters of west virginia the republican voters will decide is it worse to be a former democrat that's evan jenkins, the guy who was born in brooklyn, that's mr. mor issey, or is it worse to be an ex-convict? i don't know they're going to have to decided to. neil: well that is fielder's choice right there but did blankenship say that he would definitely run the third party,

because i thought they had that law in effect. they can't. neil: but people could write him in if he so chose, right? >> well, you've got to be able to spell his name, but yes. that's correct but just to be clear, because i've got the attorney general here, mr. blankenship if you were to lose, could not run as a third party. >> there's a sore loser law so the most important thing is that he's saying he wanted to run and he's open endorsing joe mansion. that's not what a republican does. that's not what a conservative does. >> i understand, mr. attorney general. neil we're avenging the best we can today. neil: he didn't say he would support blankenship if he were the nominee at the end of tonight so we'll watch what happens. he did not. neil: a very super heroic effort i might point out. all right, it's still early but can you imagine what it'll be like by 8:00 tonight let alone late late after that. let's got the read on all of this with wall street journal editorial page writer jillian melter, dave manning and we've

also got deirdre bolton. jillian i'm looking at this see ing what could happen in all these states. the feeling seems to be that republicans are behind the eight ball whether west virginia what should be potentially pickup for them maybe given this drama maybe not for the senate but there's certainly in danger in the house. are the numbers that you're getting and they could be wild and all over the place, are they hinting at that? >> well i think it does seem like somewhat of an up hill battle and i think we have to take into consideration as well other races that have happened since then, i think pennsylvania is a really good example. conor lamb's victory, democrats were able to take that seat in a district that could have gone heavily for trump so i think it's an up hill battle and when you have situations like in west virginia where there is a real division where there's a candidate, where there's a question of whether he could actually beat the democrat that's where things get a little interesting. neil: they do. the senate is one thing, right? i think right now, deirdre, you're reporting it would be a tougher move there to take the

senate but the house, maybe. >> yeah, that does seem to be consensus, i know even from our colleagues at the journal, i mean but just listening to our colleague there with don blankenship i keep thinking of roy moore and you made the certainty to pennsylvania but what the republicans certainly don't want is another situation like what we saw in alabama with a completely unseatable candidate is put forward so to get back to the point point the house most people are saying is up for grabs in the sense that even though the president carries three of these states we're going to be watching tonight they still could go blue the senate a little bit more on the 50/50 line. neil: do you know the markets always factor in and anticipated developments. that's the consensus and as you've reminded me of the many years consensus can be wrong. it was wrong in 2016 so let's just say we're getting this awfully wrong going into tonight >> we could be getting wrong. i mean, one of the thins that it appears to me is that this is developing along the kind of real fault lines like the

disruption lines of the two- party system. these are just as president trump is very much a kind of a does not fit into that traditional either and manages to irritate people on both sides so does blankenship. you have other candidates, independent candidates in a couple of states dave dodson in wyoming, neil simon in maryland and these are people running outside the rule sets and it reminds me a lot of what we keep seeing come out of the valley where it's like well you can't sell life insurance that way. you can't run wealth management that way but disruptive models are working that way and i think that's what's at work in these candidates. >> so the draining the swamp candidates to your point may have a better chance no matter what side of the aisle they're on? >> i think the idea of somebody whose a butt kicking truth telling maybe a little less, you know, kind of on the edge lifestyle-wise than the president but that sort of candidate. like he might be an unacceptable candidate this blankenship guy

except that he's nudging around the top end of the republican party. >> and i think to your point about being a disruption is really fascinating particularly in west virginia watching these candidates on the gop side position themselves as who can be the trumpsiest. it's a personal all it also voters are looking at. neil: well particularly in west virginia that's the state the president scored biggest victory by the biggest margin 40 points but i'm wondering if it carries over the one thing we've missed is the growing popularity of people feeling bad about the economy, maybe a little bit about the tax cuts that the underpinnings which would tend to favor the incumbent party in the white house aren't being reflected in these polls. do you guys buy that? >> well in some of the midwestern states like indiana we haven't heard from the president at all about choosing but to your point we were talking about these state budgets some of which are in the midwest which actually have surpluses, thanks in part of the in theory this trickle down trump adminitration tax plan

which went into effect december 2017 we were talking about minnesota and utah actually having more than $300 million of state budget surplus. i haven't seen the words state budget surplus in a very long time. neil: and surely connecticut came to mind but what do you make of all of this? >> i'm from colorado as you guys know and i've seen some of the polling from that wyoming race where this independent is challenging and there's a low profile democrat and people are ticked off at the party apparatuses and the bad word to say in wyoming is mitch mcconnell. a solidly republican state and they're having this their backs up because of huge government deficits and because nothings getting done in the congress and so i believe it's dealer's choice or fielder's choice in west virginia. neil: guys i want to thank you very much as they were speaking i want to pass along a source telling fox news now that vice

president pence has already briefed the congressional leadership on the president's decision, we're told that he is going to pull out of this iran deal and according to the source , his announcement today would start what they call a 90 day countdown to the real position of sanctions which might explain the anticipation of something like that, why oil prices actually sunk and wouldn't go up on the idea of sanctions going into effect that they would be reimposed over this 90-day period allowing presumably time for a new deal to be cobbled together. it's anyone's guess but right now that's the latest from john roberts at the white house. little more after this.

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neil: all right, it's looking more and more and it could change in the next half hour because things oftentimes can and do with this president but the vice president up on capitol hill and in person telling speaker paul ryan i don't know if there were others as well that the president has made a decision on this iranian deal

and that decision is to pull out of that deal but with the caveat 90 days before the imposition of sanctions, and the rest presumably providing time to come up with a better deal if they can. deputy undersecretary of the navy under ronald regan and bush 41 with us right now. very good to have you sir and thanks for taking the time. what do you make of that? >> well i make of it that the president is dissatisfied with the deal. he said so during the campaign. nothing has changed in the deal and nothing has changed in his position nor do i think he should change his position. neil: all right if he goes through with this as it was kind of roughly outlined there, secretary, but the french don't because they weren't keen on throwing out the agreement, the germans don't, certainly the russians wouldn't be inclined, then what? >> well, as you pointed out, there's a provision there for 90

days to pass and that allows time for discussion with our european allies. i think they understand as clearly as anybody does iranians and president trump that the deal as it stands right now allows iran to have nuclear weapons in the foreseeable future, and they can't be tear b ly enthusiastic about that, so here is an opportunity to change things around, put the deal on better terms for us and move forward from there, but as things stand, leaving aside even the provisions against inspections that are currently in place, this leads nowhere except to iran becoming a nuclear power in the foreseeable future. neil: secretary, you're probably aware that the former secretary

of state john kerry is in europe , in italy i believe, entertaining this move on the part of the president, that that agreement is working, has been working, has been verified. the president's making a big mistake and now there are other people who say that secretary carry is actually working through other channels to torpedo all of this. what do you make of all of that? >> i don't think he has any business doing that. american diplomacy is supposed to be conducted by the officials elected by the american people. kerry had his turn, he did what he felt was right, did what obama, what president obama thought was right, and the american people spoke in the election of 2016 and they elected somebody who disagrees with that and that person, president trump, is responsible for american, the conduct of american diplomacy, not former secretary kerry, so it's wrong. neil: secretary, i think you answered that very well, so i

think i know where you're coming from on that good seeing you again thank you. my pleasure neil. neil: we are awaiting the president's final decision also wanted to keep you posted on what's going on with the north korea leader this is those talks coming up in the next few weeks he had his second chat the north korean leader with the chinese leader in many months, what did they talk about and what were they setting the stage for, after this. man: i got scar tissue there. same thing with any dent or dings on this truck. they all got a story about what happened to 'em. man 2: it was raining, there was only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting,

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neil: the president meanwhile is looking at this $1.3 trillion spending measure wants to rescind a lot of that spending are you okay with it? >> well he agreed to it. he was involved in the negotiation and signed the bill. neil: but he warned i'm never going to do this again. >> we had an agreement with the democrats. he can't make an agreement one month and say okay we really didn't mean it and come back the next month and say oh, we really

didn't mean our agreement. neil: so was he shocked legitimate when he claimed had e was stunned by what was in there? >> well he may have been, but he and his people were involved in the negotiation. they agreed to it and he signed the bill. neil: all right, that was mitch mcconnell the senate leader now we're getting word that the president will, indeed, follow-up with 15 billion in recision spending cuts from that $1.3 trillion package of course mitch mcconnell was not a fan of redoing something of which both parties agreed i want to get the read from the house ways and means chairman texas congressman kevin brady on all of the above. sir very good to have you what do you think of this the president wants to pair 15 billion in spending a lot less than the 60 billion we're originally told he was kicking around what do you think? >> i think it's a good start. look i don't care who you are in washington you have to agree this budget and spending process is broken and we can't just keep doing the same thing year in and year out expect a different

result. i think the recisions what used to be a normal part of the budget process to always look for savings and efficiencies and dollars that aren't being spent. i think recisions are a good start, what i'd like to see him do more yet but let's get the process back in place and secondly, i really do think that if the senate moved to a simple majority for these spending packages that we could avoid these big om any bus bills that frankly no one is happy with. neil: all right so you disagree with mitch mcconnell. i think what he was eluding to maybe given the fact that they do have that 60 vote thing where they can't separate from it, that, you know, the parties agreed, the parties signed on to that so should the president. >> well i will tell you i think leader mcconnell represents his conference and i think i'm hopeful they'll have a conversation among senate republicans about going to a majority rule because when they do, they really do amazing things, really appointing good

judges, repealing the individual mandate, pro-growth tax reform, when they move the majority vote , they really have produced good things. neil: you worry though that if the democrats were to take over let's say in the senate then they practice that you'd be burnt, right? >> well i will tell you i'll take that approach. neil: okay. >> i think it's important in the majority actually to pursue our agenda and i think it's a fair trade-off. neil: let's step back and look at the tax cut right now. it's very very clear that revenue coming in were just coming off the month of april record revenues coming in with a tax cut a big part of that just as you said it would be yet still frustration on the part of many of your colleagues who wonder why it isn't the powerful political weapon you thought it would be going into the mid-term s. it still might be congressman but are you surprised by that? >> no, i will tell you i think it will be and here is why. look we're just in the fourth month of this new tax code so we're not in the first inning of the ballgame.

we're in the first batter of the first inning in the ballgame and already, the results are so encouraging i know neil if i'd told you in december that within this short timetable, wages would be increasing the fastest in 10 years, main street optimism and profits would be at the highest of 45 years, and businesses are hiring right and left you would of thought i was exaggerating but that's exactly where we're at today and i still think the best is yet to come because these businesses are making decisions on where to locate that next new manufacturing plant that research facility where to put those patents here in the u.s. and so those are long term decisions to get better, i think every day gets better in the u.s. because tax reform. neil: chairman, nancy pelosi, corey booker, call it all crumbs , what do you think? >> yeah, so i think they're being drawn every day back home and i can just tell you that part time worker at home depot,

pat, who came up to me, she's a small business person that works part time to make ends meet she's getting $184 more each paycheck. she said you don't know how much that means to me and my family, so i think at the end of the day , not only are they wrong but their agenda which comes down to impeach and leach, you know, they want to impeach the president and leach on to more of what americans earn, i think that sums their agenda up and the american people aren't going to go for it. neil: you know besides this talk about a phase of the tax cut i know the effort here is to make the individual cut permanent. it wasn't in the first go around urls trying to reignite the temporary assistance for needy families program which struck me at first blush as a liberal move , and what is kevin brady doing here. explain. yeah, now that we have one of the most competitive tax codes on the planet we need more workers. that's great news, wages are going up that's great news but we've got a lot of americans trapped on the sidelines in our

cash welfare system. we think they've got great potential and so what we're doing in the ways and means committee is starting the process to help to move them from the sidelines back into good paying jobs, both because it's good for them and their families to see that parent going to work each day but frankly we need them. america needs them back in the workforce. we've got good start ways to do that. neil: you know when i heard you were doing this, sir i was thinking of a criticism that marco rubio had of the tax plan even though he voted for it that it didn't help individuals out as much as he had hoped. i'm wondering if what you're doing here is a reflection of that. >> no, i think marco rubio, whose a good friend, had it right just a few weeks ago. speaking in florida when he said parents work hard to take care for their children, and the new republican tax plan lets them keep more of what they earn. i think he was exactly right, and it's proving out that way as

well. neil: that is a very judicious reply to that question. you avoided a whole nasty little part with you and the senator. very nicely done. >> [laughter] we do our best to keep focused on our message but the truth is, boy, look this is working and it's only getting better. neil: chairman it all started with you so thank you very much good seeing you again. thank you, sir. neil: kevin brady the man who runs the house ways and means committee. more on the fallout from all of this and the decision on the part of the white house donald trump on that iran deal it is looking, looking like he's backing away from it. more after this. mgx minerals' disruptive technology can extract lithium -

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neil: all right, moments away from hearing the president of the united states on potentially withdrawing from that iran nook deal, cobbled together by the obama administration, five other allies a few years back to former assistant secretary of defense under ronald regan richard pearl joining us. >> it's a pleasure to be here. neil: if it is what we think it is sir and that is we pull out of this and is a 90 day sort of cooling off period whatever you want to describe it, before sanctions kickback or in what do you make of that? >> well i think it's about time

it would have been better if we'd never entered this agreement. it was never in our interest or the interest of those who might be adversely affected by the rise of iran all over the gulf in particular. this is a revolutionary regime with huge ambitions. the nuclear weapons are only a part of it and i think there are good reasons for not wanting to give them the freedom which they operate in the absence of sanctions that have to do with de stabilization of the middle east with assassinations abroad with the number of people they're murdering at home, so it's a regime that is well deserving of sanctions. neil: um, you were mentioning it was a mistake to have even done this in the first place but it was done, and it was done, you know, with some other countries here, so i'm thinking of france, i'm thinking of russia, i'm

thinking germany, all of whom were against the president taking them who it appears he's about to take. what if they don't go along secretary, what if it's just acting unilaterally? >> well i think we can exert very substantial leverage through the banking system, through what are termed secondary sanctions, but they are effective. neil: even if it's just us? >> even if it's just us. even if it's just us, it will do real harm to the iranian ability to raise the money, to support activities around the world that are dangerous and harmful. neil: right now, iranian president is announcing that this decision could be problematic that's to put it mildly but i'm wondering what they do in the event the president does this, what do they do? now they've already got a lot of the money. they have tens of billions that was unfrozen and put back in

their hands. you could make the argument that it was earlier, sir that they very little incentive to work with us because they've already got what they wanted. >> well in fact that's why it would have been better never to have done it, because of the tremendous flow of money which has been used for purposes we're all familiar with around the world, but the continuing flow is now going to be significantly interrupted. the reason why the iranians have been as emphatic as they have and as active as they have in trying to prevent this decision is they understand the consequences for their own economy. they're grave and while rohani will try to minimize it the fact is this will deal a serious blow to their financial underpinnings and their ability to operate around the world. neil: you know john kerry the former secretary of state put this together.

he's been in italy, europe all this week saying it would be a far bigger mistake our backing away from it. what do you think of that? >> well of course i think he's wrong about that. neil: what do you think he's been doing, some say it's a shadowed diplomacy effort to undo what the president wants to undo. i think he's been talking to people to help them put pressure on the administration which has almost put out a precedent. he's been actively engaged in undermining the president's freedom of action. he has strong views on this and he's deeply invested in it, and i think the fact that the sky is not going to fall, that the benefits that were argued by ker ry and obama will become less and less evident. i think that's why he's so concerned about projecting the agreement and his reputation. neil: republicans are saying his behavior and words were treason speaking as he was abroad. what do you think of that? >> i think he was imprudent.

he should not have done it. i don't like using the word treason. neil: they do. they're politicians. finally, the 90 day period, cool ing off whatever you want to call it. is that enough time for cooler heads or alternatives to come together? >> well it's certainly allows the opportunity for revision in the deal that allows some form of it to go forward, and i expect there will now be frantic negotiation by those who want to preserve the deal and by those who believe the deal would be acceptable if it were revised to try to come up with something better. my own view is that the deal in any form gives too much aid and comfort to an enemy. neil: we'll see what happens. deputy undersecretary of the navy under ronald regan bush 41 this is the scene at the white house right now, just moments away from the president of the united states about to walk away

from an agreement that john kerry said would be a big mistake from which to walk away. we'll see. more after this. every way we look out for those we love is an act of mutuality. we can help with the financial ones. learn more or find an advisor at massmutual.com

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neil: you know we were down about 70 points or so on the dow we got this back and forth about the president pulling back from the deal, not pulling back from the deal. we're about where we were a couple hours ago. here we be now waiting to hear officially from president united states whether he will pull back

from a deal his predecessor cobbled together with five of our allies, to police the iranians and their nuclear program. that administration said it was working. this administration says it is not. he is about to tear it up. now to trish regan. trish: we'll find out momentarily. hello, neil. breaking every one, president trump is set to announce his decision on the iran nuclear deal. you're looking at live picture from the white house. the source telling fox business that the president will definitely pull out of this deal but we're going to hear from the president himself momentarily. so do not go anywhere. i'm trish regan, welcome to "the intelligence report" on this very important day. the market is on edge, down 68 points. as investors trying to determine exactly what the president is going to do, what the fate of that iran nuclear deal is. don't forget he said over and over and over again on the campaign trail, this is a bad