an investor today, and i talked about every other phone when it comes out, and he says, no, i've got five watches in my drawer. [laughter] and i do think the upgrade that we saw today from ubs, it speaks volumes. charles: right. i was going to mention that as well. i think apple's a buy here as well. mitch roschelle and michelle, thank you both very much. liz claman, golly, an exciting last hour again but even more so today. liz: yeah, i agree. you know, and because of what's happening right now, that's why we are seeing near record highs for the s&p. breaking right now, president biden should land at pittsburgh national airport within this hour. he just did wheels up at 2:35 p.m. eastern from joint base andrews. he is taking that $2.25 billion infrastructure bazooka along for the ride. so with the s&p up 29 points, it does need to be up just 16 points for a record, so we are there right now. the nasdaq, look at that, no

slouch, clawing back its losses for the month of march. infrastructure is the fuel, make no to mistake, for the stock moves today despite the fact that to pay for it the corporate tax rate could be bumped higher. president biden planning to use the revenue brought in by those planned tax hikes to fund this, $620 billion on transportation infrastructure, that would include rebuilding roads and bridges, highways and ports. flip it over to the next $400 billion said to go to home care for the elderly and disabled. $580 billion heading to r&d, manufacturing and training. another $180 billion of those funds to be spent on clean energy specifically and then $650 billion set aside for electric grid improvements, water system advancements and broadband access. so what stocks are doing great? take a look at steel stocks. they are showing their metal, hitting a new 52-week high on many of these names.

cleveland cliffs up 16%, and then, obvious, u.s. steel up about nine-tenths of a percent. a good etf that kind of encompasses all of these names up 1.5%. but the structure sun is also shining on solar and wind stocks. end phase is a name that is topping the s&p 500, smack in the middle of that sector. you've got that the up about 9% and big bumps for suppower and nextera. and more than half a trillion in r&d spending, that's having a halo effect on chip stocks. again, yes, congress has to approve all of this, but look at the chip names. more on today's big moves for semiconductors and tech in just a few minutes, but let us start with a fox business alert, and that's the one thing not in the man that millions of americans are breathing a sigh of relief about. just days after transportation secretary pete buttigieg said a good way to fund some of the

infrastructure plan maybe -- might be a tax on how far motorists travel, it turns out biden has heft that mileage tax in the dust. it's not in the plan. but before you put your driving on cruise control, this is this: biden's transportation department did get the okay for the state of new york to proceed to the crucial next step in implementing congestion pricing for manhattan. this is a program that calls for a surcharge for vehicles entering the core of of mid iftown manhattan during can -- midtown manhattan during rush hour. it would ostensibly fund transportation improvements. how's this going to go over for big business in new york city? ray mcguire is up running for mayor, the former citigroup global head of investing, no doubt, has pointed opinions on this issue. he's joining us first on fox business. ray, welcome. we're thrilled you're on the hoe. we'll get to infrastructure in just a moment, but there is

breaking news about that we need to get your comment on. we're suddenly seeing corporate america's big wigs headed by delta airlines' ed bastion who who'sed the confidential voter restriction law in new york, also forcefully speaking out against the law which they say would hurt underrepresented voters' chance to cast a ballot. ray, what is your reaction to that? because it is becoming a global situation. >> you know, it should become a global situation. thank you for having me. you saw the conversation that began earlier this morning, i was one of the signatures to the condemnation of the legislation that has occurred in georgia. it threatens to undermine democracy not only in this country, but everywhere in the world. and if there's a moment in time when we have to stand up, that is that moment, today is that moment.

and that legislation passed, it's what the president called 21st century jim crow. today you do have a number of us in leadership positions who will do whatever we can to condemn it, and i will soon issue a statement to ask all of the leadership in new york, in the corporate world, in the civic world, in government to stand the up proudly yet defiantly and make it known that this is not something for which they stand and not something which they would tolerate. so i stand to say as a candidate for this, for the mayor of the leadership of this city that i ask all to stand with me, and i ask all business, government and civic leaders to stand with me so that we stand in condemnation, locked arm in arm. as martin luther king jr. told us in that letter from birmingham jail, injustice anywhere is a threat to justice everywhere. we have to stand for it today. liz: you know, that letter from jail, i did end reading that

recently. everybody should -- the letter martin luther king jr. wrote from birmingham prison. you're in a unique position, of course, you were one of the top guys at citigroup before you decided to run for mayor. so you have that perspective. you look for that prism in part through the business eye. as we mentioned, delta airlines, coca-cola, home depot, jpmorgan has a bunch of branches all over georgia, citibank has 59 in atlanta alone. why do you see corporate america's role in this important? >> corporate america must take a leadership role. they're responsible for what takes place in the economy, and the economy has impact in our daily lives. we can't have any social justice without economic justice, so every leader in the corporate world must stand up to today. there is no option not to. this is the american right to vote. this is the basis of our democracy. people fought hard and lost lives in order for that to happen. and, yes, we had some

culpability in the leadership there, lyndon baines johnson stood up to say this is not who america is. if you have any semblance of leadership, you've got to stand up for this. you'll stand up for america. liz: okay. let me dovetail now to the infrastructure plan. president biden's about to land in pittsburgh. he is going to unveil a very pricey plan of which new york state is expected to get a rather significant chunk, around $6 billion. if it is passed by congress. bridges, tunnels, congestion in new york city, i need to get your thought on where you feel some of that money should go first. >> you know, i have outlined in my vision for the city, the platform of the economy, go big, go small, go forward creating 500,000 jobs. so the good news today is that what the president has outlined is in complete alignment with my priorities for this city, 500,000 jobs, infrastructure, sewage mains, bridges, subway

elevators especially for the seniors, affordable housing and broadband. and wind and solar and the gateway project that has been outstanding for all too long. and that has to be one of the highest priorities. as you note, the secretary of transportation, buttigieg, has said we need to green light this and move if forward on it. highest incidence of as a ma exists in the bronx largely because of thoroughfares that cop screen there. new yorkers can -- convene ther. this is the highest priority. liz: congestion pricing. the federal government has allowed the procedure to continue. there will be a comment period, but new york could be the first city in america to actually add a surcharge on people who are commuting during the core, peak times. i mean, hour, yeah, or it's a rush -- rush hour, yeah, it's a rush, but uber and lyft have

become so popular, you've got to you said, and i'm sure you -- understand, i'm sure you do, i live in new mexico, i commute to midtown the, this would be disastrous for people like me and also the trucking industry if there is congestion pricing. what do we do about that? >> well, unless we do something about it, we're going to have a climate with a 100-year flood that comes every five years. climate change is real. fossil i fuel emissions are real. we need to make sure we deal with that and transition into an economy and a city that has got climate consciousness as part of its core fundamentals. and, yes, there's going to be some disruption is and some distraction and some outragement but we all need to figure out what is in the best interest of all of new yorkers. how does this city exist without continue continuing to lead in. liz: yeah. i mean, listen, we're looking at some of the infrastructure that crumbles all over new york city, so cheerily we need -- clearly, we need that money. one last quick question.

there are some democrats and certainly some big states, most of them blue, hit hard by the gop tax break, what it did back in the december of 2017, and that was put a cap on state and local tax deductions. there are obviously some politicians saying it has to be part of this infrastructure plan to get rid of that cap and let people write off or deduct their state and local taxes. how important is this, and do you think it's a deal-breaker? let me just add to that, sorry, ray, let me just add to that new york city has lost a lot of wealthy people. they're moving to florida and texas, obviously, and then you've got a lot of the banks saying we're cone, we're moving -- we're done, we're moving out. >> well, part of this is because of the divisive narrative that now exists. we've gotten significant sums of dollars at the state level and at the local level thanks to the leadership of this state. we have benefited from that.

means that today it is not necessary to add taxes. more ideological, more divisive, not constructive. we do not need to continue to increase the taxes here. we've done it at the federal level, we do not need toot -- to do it at the local level. with we continue to alienate those people who can help move the city forward. i want to make sure that we move forward in the largest, most inclusive economic comeback. we do not need to do that given the support the federal government has given to the state and to the city. we have capacity now to move forward and to build this city back. and we need to do that in an inclusive way. so my plan does that, and i've said prior to what we've gotten from the federal government, i've said that those who have the resources should -- today we don't need that. that's not, it's just not appropriate, not necessary, not right. liz: that is music to many new yorkers' ears, democratic mayoral candidate who says let's hold off on the tax hikes.

ray mcguire, please come back as this race develops. we we really appreciate it, thank you so much. >> thank you for having me. liz: anytime. okay, so we're awaiting president biden who will land in pittsburgh at any moment to talk about and unveil part one of his infrastructure plan which is not all about decaying roads and bridges. president biden is also proposing $180 billion targeted for investments in research and development that will help position the u.s. for success on the global stage, particularly when it comes to the wildly competitive tech innovation race against china. we are talking about everything from artificial intelligence to biotechnology, to computing. about $50 billion of that investment will apparently go to the national science foundation to focus on semiconduct ors and advanced computing, keeping us focused here. another win for the tech sector, the biden administration is letting the h-1b visa ban

expired today. what is the trade? to our floor show traders, teddy weisberg and larry shover. an easy one is the chipmakers, they're having a great session right now. the infrastructure plan in the very early stages, obviously, needs congressional approval. but what part of it looks like a sure thing to go through and get passed and a sure trade? >> well, i think the least path of resistance would be, like, rural broadband. i mean, like, 5g for everyone. i think that, you know, there's other great needs. we all know that. the second railroad revolution, clean energy, etc. but i broadband, 5g, especially in rural parts of america, are probably the least path of resistance. so you looked at low hanging fruit like at&t and verizon. they'll be men fishery toes of that -- beneficiaries of that. artificial excellence, super computing would all be involved in that, but i do think that would be the least path of

resistance beyond other things like construction material, electricity, second railroad revolution. liz: yeah. the grid. i agree with you, i think that broadband investment in the rural areas. >> yeah. liz: -- is crucial and much needed. and the pandemic, teddy, really high lighted an ugly underbelly of the haves and have nots when it comes to broadband. tell me your ideas as we await president biden and what he may or may not say about this plan for infrastructure. >> well, i think it this is an unusual broadcast because i absolutely agree with your other guest. i have broadband also but different names, american tower, sba communications. they're in the tower business, and perhaps marvel communications which makes a lot of the chips and the infrastructure for the broadband. but also when it comes to artificial intelligence, there's a small etf called botz, and their focus is artificial

intelligence. and robotics, but particularly artificial intelligence. so if you don't know, if you have trouble picking an individual stock the, perhaps an itf -- etf or botz is the way to go. liz: there will be lots of push on this infrastructure bill. teddy, larry, great to see you. we're looking at 45 minutes away from the closing bell. "the claman countdown" is coming right back. we've got big names on the move, we're going to get you only of that. and charlie gasparino on a big story he's on right now. don't go away. ♪ ♪ cell phone repair. did you know liberty mutual customizes your car insurance so you only pay for what you need?

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♪♪ liz: oh, boy, back to this gigantic whale of a margin call and liquidation. the securities and exchange commission thousand con confirming it's looking into archegos capital's highly leveraged trades that blew up late last week. charlie gas perino -- gasparino,

who else? >> it could go into his foundation, the grace and mercy foundation. i've done a lot of reporting on this, i haven't uncovered anything that looks illegal here. if the sec looks at this, which is almost perfunctory, that doesn't mean bill wang did thinking wrong here other than some bad market bets. so before we start saying the guy's in big trouble, you know, just because he took risks, risk is not illegal. you lose money, that's the consequence of taking risk and betting wrong. it's not necessarily a regulatory investigation that catches you in something. but the sec does, basically does these preliminary investigations on everything that pops in the market that looks a little, that gets a lot of controversy. but here's what we know, because we've been doing -- meaning myself and my producer, lydia moynihan -- a little deep dive

into some of the facts and circumstances surrounding this charity, the grace and mercy foundation. and, by the way, i want to give a hat tip to a guy named edwin dorsey, stock jabber on twitter, who got into some of these issues and helped us look at these irs form 990s which show that this foundation, which is run by mr. wang and is almost a unit or after. egos -- archegos. they were very intermingled. this foundation unit was also, by the way, doing some incredibly risky stock trades. if you look at it -- liz: yeah. >> in the 990s, liz, it basically says they were buying swaps and offshore funds and trusts. i mean, it is really amazing. making some money, losing some money but still doing it. and i suggest you just go, you can get these forms. they're pretty easy, you can get

'em from propublica, look up grace and mercy foundation and look up some of their betting. there's a form where it shows him making trades going on, and it's pretty amazing. i've never seen a charity doing something like that. again, doesn't mean it's illegal, but it's another angle i think the sec is going to look at, the sort of intermingling of trades between the hedge fund or the family office which essentially acted like a hedge fund, taking risky bets, and what's going on here in terms of the foundation. again, not saying anybody's doing anything wrong. i've come across nothing that looks illegal. but it's interesting. you know, when was the last time you heard of a charitable foundation trading stocks or at least trading derivatives, not even stocks. liz: they do like stock shares donated, that's for sure. >> yeah. and, by the way, in the 990 they got a donation, at least according to the 2018 990, they

got a donation of amazon shares that head significant amounts of money. i can't remember the exact amount. liz: okay. >> i think it's something like $9 -- 19 million. i know you had ray mcguire on, i've known him for a while from stu group. there are essentially three -- citigroup. there are essentially three candidates trying to appeal to the bloomberg wing of the party that ran new york city for three terms and trying to get, from what we understand, an endorsement out of the former mayor. one is, obviously, ray mcguire, a moderate on social issues and economic conservative to moderate. in new york city he's probably conservative. everywhere else in the world -- liz: well, i don't know if you just heard, charlie, but he just said he was against hiking taxes in new york city. >> right. liz: he said we've already paid out enough, so that is unusual, certainly, for a democrat.

>> and you'll remember we had shaun donovan on. i can't remember if you were here, the former omb director you were obama. i believe he basically said the same thing. and andrew yang, the tech entrepreneur. those three candidates, from what we understand, are vying for a bloomberg endorsement. it is unclear if the former mayor will make an endorsement, but these guys think if they could get one, that could jump-start their campaigns and give them some decent name recognition. liz, back to you. liz: charlie, thank you. you may want to hear this next bit of breaking news which we just got in, ford is announcing that a numb of its plants a-- number of its plants across the country will be down, will be at least holding off on activity during some weeks in april. now, they often do this during the summer, but the automaker is specifically citing the global semiconductor shortage in this issue. some of the plants that will be

closed for the time being are in dearborn, louisville, oakville and kansas city. ford motor stock down just under 1% right now. again, we've talked about these shortages going on, and we spoke to the head of subaru what has said 34 chips in an average subaru vehicle. and there is a real shortage here because of the supply chain that's been down or certainly gummed up due to covid. finish. "the claman countdown" is coming right back. the s&p up 29 points right now, we are looking at a record. stay tuned, we're coming right back. ♪

[announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up.

♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ liz: and we need to get a crucial development out to you regarding the advantage seen sector. our pop stocks are top be pfizer and biontech, they are moving at this hour higher. pfizer better by half a percent. look at biontech, up 4.5% after

the companies revealed this morning that this trials their jointly-developed covid-19 vaccine showed 100% efficacy in kids 12 and over. the vaccine makers are now going to ask u.s. health regulators to expand use of the so the to that -- shot to that specific age group. the resurgence of covid is pulling threads at lululemon, announcing brick and mortar sales slumped 28% due to the pandemic which just won't entirely give up and warning of demand risks from a newly-increasing number of cases. gap, which owns athleta is also moving lower. lulu's down 2%, gap down about half a percent. and take a look at chewy, total opposite direction. we a thought, hey, you know what in let's show all of the pet if op our team "countdown" members. that's moon, rosie --

[laughter] -- that's mine, rosie, and you'll start to see if team "countdown" is representative of the nation, that's why chewy's jumping 7% right now. a surprise quarterly profit of a nickel a share versus estimates of a ten cent loss. people spending a ton on their pets. how much? revenue jumped more than 50% as pet owners hopped online to buy their, quote, children -- that's my puss-puss -- toys. to the business of college basketball, we are now down to the juiciest part of march madness. ucla, gonzaga, baylor and houston have made it to the final four of the ncaa men's basketball tournament. they battle out who will make it to the national championship game this monday night, is it possible an even bigger fight is about to rage over the future of college athlete ins? lydia hu is out in old westbury,

new york, with the founder of a student-run business that's helping former athletes make some money. lydia, you know, they're not waiting around for the supreme court to tabbing whether athletes -- tackle whether athletes in college should get paid. what's happening where you are, and what's going on with the supreme court? >> reporter: hey there, liz. you know, the supreme court heard those arguments this morning for more than an hour and a half, and the early analysis from the questions that the justices asked seemed to suggest that they're leaning more towards in the favor of the players. seems like they might be requiring sometime soon that the ncaa revise only of their rules that have put roadblocks in the way of allowing current players to get paid. so since current players cannot get paid now, this business popped up. we are at the players' trunk, old westbury, new york, a business started during the pandemic in a family garage. we're joined by founder hunter. you came up with this idea to

help connect former players as soon as they're able and allowed to start selling some of their gear with their fan base. i asked about uc-berkeley, your alma mater, and he said hot items. they sell out so fast, they don't have anything in stock right now. but, hunter, you're saying now is a very busy time because you're watching who's getting knocked out of the tournament. what are you doing? >> yeah, that's exactly right. we're working with phones with teams that have been eliminated, just making athleteses aware of the platform that we offer them and the possibilities and opportunities that they have when they come to work with us at the players' trunk to really monetize their name and their image and their likeness for the first time. they do have this opportunity to do so, and we're excited to work with them just as we're equally excited to bring this unique gear. it's player-exclusive, team team-owned, game-worn gear, and we're excited to bring this to customers worldwide. >> reporter: tell us quickly

about these shoes. >> really select number made, these are from texas basketball. they have the texas color, of course, as well as texas written on them. so can't find these on nike.com. player exclusive, super unique and only a handful made. >> reporter: great gift for a super fan or into really cool footwear. check them out online or on instagram but, liz, we expect the supreme court to be making a decision on this case sometime in june. that really could change the landscape of college athletics and how and when current college players get paid and compensated. liz: i'm on, it's called the players' trunk.com. i see you guys don't have any jeremy lin but, boy, i'm loving what you do have. trunks from a whole bunch of different players, and you can look at your alma mater, stanford, virginia tech, kansas state and, yes, cal-berkeley. all right, so exciting. listen, don't wait around, right? you've got to help these college

athletes who don't make it to the nba. lydia, great story. thank you so much, i appreciate it. a stunning new stat. in a nation -- our nation of 330 million people, wait til you hear how many or should we say how few homes are available on the market. as feverish buyers scoop up everything from mcmansions to dilapidated teardowns, we've got the ceo of the wildly popular decking company whose business and stock is booming. closing bell ringing in 25 minutes. dow jones industrials up about 21 points and, again, we're watching the s&p. if we close there or anywhere above 16 points to the upside, that will be a brand new record. ♪ ♪

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might run into a little bit of a big problem. there is nothing to buy out there. new data shows that according to the national association of realtors, at the end of february there were just 1.03 million homes for sale in the entire country, that is the lowest level, folks, since 1982. whether it's the pandemic and people rushing to buy a house or get out of the urban apartment areas or very low mortgage rates, here's what's jumping: lumber prices. take a look at this year to date chart. lumber up more than 57%, driving up construction costs not only for home builders, but for anybody looking to fix their decks and patios. truck ceo brian fairbanks, great to have you. you know, the kinney inventory -- skinny inventory has people holding on to and improving what they've got each as vaccinations take hold.

i'd love to know how your business is doing for your decking material that doesn't have any lumber in it. >> it clearly has been interesting times. over the past year working through the pandemic and now moving into a period where, as you mentioned, the inventory of homes is very low. that creates an opportunity for treks where people are updating their existing living spaces to improve their outdoor living environment but also those people who are making the move for often than not that will result in remodeling spend once the move is complete. liz: i do want to ask you quickly about this biden administration plan. he's about to unveil supposedly within the hour out of pittsburgh his $2.25 trillion infrastructure spending bill. at least part of it. is there any knock-on effect for trex here? >> yeah, we think there will be

some impact. where there are public work projects that are looking for outdoor entertainment type venues, we do see an opportunity for trex to be specced into those type of areas. liz: okay. you know, back to the housing situation, there's a major, major push for updating decks and things like that. you know, do you expect to see a follow-on beyond the point where the pandemic is gripping the nation's fears, etc. i mean, once this eventually passes, god willing, where do you see your next catalyst for the business? >> we do, we do see that as an opportunity. homeowners are looking for green products to be able to add into their home. trex is manufactured with 99 5 recycled -- 95% recycled content, and a homeowner is looking for high quality, high aesthetic at the right price

level, but also making a good green choice. liz: we're showing plastic bags. for our viewers who don't know, trex takes plastic bags, these are the ones from the grocery store, am i correct? and you convert them into these materials that you make decks out of. i love this story. brian, just quickly explain it for our viewers who are unfamiliar with your company and the fact that your stock has more than doubled over the past year. >> sure. trex are recycles over 800 million pounds of polyethylene and wood on an annual basis, and, of course, that's growing along with the company. we purchase these from all over the country, major supermarket chains, distribution centers. and then on the wood side, furniture, flooring manufacturers of that have cutoffs. so we're able to keep all of this material out of the wood -- out of the waste stream and then turn it into a high value-added product. liz: am i correct that you have some dropoffs at home depots

where you can drop off plastic bags that you have extras of at your houses? >> we do at certain home depots, but many grocery stores around the country you will find dropoffs where sometimes it has trex signage on it so people know where it's going, and in many cases just a plastic bun for people to drop their bags as well as other household plastics if they have overwraps, any ziploc bags, dry cleaning bags, we're happy to take all of those. liz: well, it's good business, and it makes good sense. trex ceo brian fairbanks. thanks for coming back on -- >> appreciate it. liz: stock has doubled over the past year. president biden, now we're thinking the around 45 minutes away from unleashing his $2.25 trillion infrastructure plan. what harry kudlow has to a-- larry kudlow has to say about the corporate tax hikes president biden's hoping to impose in order to fund those

trillions. plus, take a look at the ipo of the day. online courses taught by best of the best, right? the stock is jumping 36.5% at its debut. it opened at 39, and the company is now valued at $4.3 billion. coursera. but, oh, boy, already it is facing serious competition. erin rasmussen is the cofound ther of master class. i know some of you guys know what that is. it's online classes taught by the most famous people whether it's famous directors or, you know, famous chefs, etc. he has just founded outlier.org. that will compete in a way with coursera. my everyone talks to liz podcast focuses not only on master class and what he has put together, plus i have to tell you he has the most incredible stories.

aaron rasmussen was blinded in college chemistry class. but guess what? he fought back and has created some incredible businesses. you know, it's inspirational. all my everyone talks to liz podcasts are, but i need you the hear his story. he is charging ahead making big, big moves in education online. you can get it anywhere, at spotify, foxnewspodcast.com, apple podcast, etc. we're coming right back. look at the nasdaq now, up 235 points. big move happening right now. stay tuned, we're coming right back. ♪ s ♪ with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients.

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♪ liz: all right. we are just learning that president biden has now landed,

you can see him deplaning in pittsburgh moments ago from air force one. he is on his way to announce his big infrastructure plan, $2.25 trillion for all kinds of buildups and buildouts. but we want to show you two stocks right now. u.s. steel, which, yes, is moving higher. but looked at cleveland cliffs. cleveland cliffs is on track to see its highest close since april of 2017. big move here for cleveland cliffs. these are both big materials companies that could be beneficiaries of what the administration plans on doing. and that, of course, is big infrastructure. but there is also a plan on how to pay for it, made in america tax plan they say will help pay for the spending package over the course of 15 years and could involve a corporate tax rate increase from 21% to 28%. also increase the minimum tax of

multi-national corporations to 21% which would be calculated on a country by country basis. let me get to larry kudlow right now. already, larry, you see some all-american stocks benefiting what could be this big opportunity for them. but you also know that there will be tax hikes if it does go through with congress to pay for this. can you really please all the people all the time in. larry: well, you can if you quit raising taxes and quit punishing american companies that hire workers including, by the way, these steel companies. because once they see their new tax bill, they're not going to be happy. look, to me, this is job-killing stuff, and the men fishery of this corporate tax -- beneficiary of this tax plan in general will help china. it won't help the united states. firms will try to move out of here, or they won't invest at all. i mean, the capital gains tax is doubled on top of the corporate tax increase, on top of the international minimum tax increase. that is a very big hit, liz

claman, to companies' profits. and, by the way, in the stock market pes are going to get hurt. i'm amazed the market hasn't reacted much to this. maybe it thinks it's not going to happen. liz: it's jumping. look at the nasdaq up 251 because we are seeing there could be opportunities for the chip makers, they want to spend a lot on r&d. but can i push back on something here? as we look at what this could be as far as opportunity is concerned, the spending on infrastructure was something that both sides wanted. both sides wanted this. and the corporate tax rate, yes, would go higher to 2% if congress approved that -- 28%, but it certainly wouldn't be at 35% where it used to be. >> well, the combined federal/state corporate tax would be 33. that would be the highest in the oecd industrial countries, and china is 25. so that's not a good thing. and these minimum taxes are

going to be damaging tooment i mean, look, liz, you could have done an infrastructure plan for about $100 billion a year which would have come to $1 trillion over ten years. this is something we discussed in the last couple of years. and the pay-for wouldn't have to be an assault on large and small business taxes. the pay-fors could be user fees, they could be toll roads, they could be public/private partnerships, they could be bonding -- liz: well, did you tell that -- but, larry, did you tell that to president trump? because he floated a $3 trillion idea. larry: well, he did, but we simmeredded him down to a buck, $1 trillion. more rational discussions in the oval office. [laughter] my friend mnuchin and i and a few other, we kind of reeled him in there. liz: pulled him back, yeah. larry: again, part of that was the pay-fors. i was in some awful meetings in the cabinet room with the senate and house leadership, both sides, and the president and

little me, and some of them were very unpleasant, not like you and i talking, which is fabulous. these were very unpleasant -- liz: larry, you know tv -- larry: we're out of here. liz: we're about to go to black. we'll see you at the top of the hour. larry kudlow. nasdaq's on fire, we are coming right back. ♪ ♪ (calm music) - did you know that americans that bought gold in 2005 quadrupled their money by 2012? . .

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an alternative to pills voltaren is the first full prescription strength non-steroidal anti-inflammatory gel to target pain directly at the source for powerful arthritis pain relief. voltaren. the joy of movement. ♪. liz: folks, two minutes to go before the closing bell rings. s&p on track for a record. needs to be up. what did i tell you. it needs to be up about 16 points. we are there, it is looking pretty good. we have green on the screen for the month of march. dow, s&p best month since november. let's get to the "countdown" closer. he has very important opportunities here. 10 billion in assets. he is tag -- 180 billion in assets.

ed rosenberg, american century investments. three cs for tech. >> cloud computing, collaboration tools and excuse me, quite frankly cybersecurity. they are the areas that you can benefit from going forward. if you think what is happening, we're all working from home. these areas will continue to grow in tech for the rest of the year. much beyond actually. liz: nasdaq up 217 points right now. what happened to the big correction? are you still very much a believer that the opportunities have a long tail here? >> i am. there are so many opportunities in the marketplace today. you were talking to larry kudlow a few minutes ago about the infrastructure. there is going to be opportunities there if that deal goes through. you have places like commercial and construction rental equipment. i think the rest of the year as people start opening their wallets, they're able to travel, personally travel, not necessarily business travel. there are areas of the market where you can really benefit

from. whether an individual company or an etf that takes advantage of them. i think there is plenty of opportunity to grow. [closing bell rings] liz: ed rosenberg, american century investments. i very much agree with ed on that technology. everything is tech now. that will do it for us. looks like -- ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. great to be with you. stocks closed today mostly higher. the s&p 500 hitting an all time high. nasdaq having a very big day turning positive for the month of march. all that coming ahead of major infrastructure speech this afternoon by president joe biden in pittsburgh. so, folks, as i said before be careful what you wish for. everyone thinks they love infrastructure. repairing bridges, roads, tunnels, schools, building out broadband, investing in new technologies like a.i., space, ultramicro