♪. stuart: yeah, that's me. that is me indeed meeting my new grand daughter, madeleine. she is eight days old as of today. quickly which state is named the centennial state? want to guess, mike? >> number two, connecticut. stuart: i am too. i used to live in the connecticut. i believe that is the correct answer. no it is not, it is colorado. oh dear. >> leave it to neil. stuart: thanks for being with us in the hour. "varney & company," queer done. "coast to coast" starts right now. ♪

>> show me your budget, show you mine. neil: kevin mccarthy meet act white house. we have a guy in big position preview what we're talking about today. house ways and means chairman, jason smith says this is golden opportunity for republicans to force spending cuts for a president who is not budging. unthinkable, could it be a default is many soing no matter how much both of these sides keep talking? welcome, everybody, i'm neil cavuto. first to a different kind of spending talk. concerns that the president celebrating infrastructure package that he garnered 18 republican votes last year with gaining events this year. a baltimore stop a future new york tunnel. to the tune of 200 million taxpayer dollars. more on that and the president's priorities right now with edward lawrence at the white house.

hey, edward. >> reporter: 292 million to be exact. let's talk about budgets for a second. the president's budget is supposed to be submitted the first tuesday in february, that is next week. the president, white house, saying no, their budget will be submitted on march 9th. a month late, third year in a row. the head of committee for responsible federal budget that this affects the senate budget committee and so forth. of the listen. >> budget committee won't be able to get started on its own work in ernest until they see what is in the president's budget that can have a domino effect you miss the first deadline father down the road, more deadlines are missed. we end up way too often, none of parts of the budget being passed on time. >> reporter: that coleave to a government shut down. both sides pointing fingers president calling house speaker to submit his budget on eve of

first face-to-face meeting this year. >> will you negotiate with mccarthy. >> president biden: show me his budget. show me his budget. >> reporter: in 30 minutes president biden will talk about the bipartisan infrastructure bill, paying to finish critical part of a new tunnel under the hudson river. one more of three stops this week, about government spending. baltimore, new york, now philadelphia on friday. he is in campaign mode, hoping to deflect from rising gas prices recently and inflation which is far too high. this tweet here, you see the picture there on the left and side from yesterday, pushing a 7500-dollar tax credit for electric vehicles from a hummer truck which does not qualify for the tax credit because it is $80,000 is what it cost. most americans cannot afford that truck because the median household income is only $70,000 a year. back to you, neil. neil: it is interesting, the president once again like in baltimore touting a tunnel.

last time i checked tunnels are usually under water. means we pay for this, thoughts? >> reporter: i don't know what to say. neil: you lose -- >> reporter: $292 million from the bipartisan infrastructure bill will pay for the new, critical part of that new holland tunnel. then the baltimore tunnel went under a neighborhood. neil: there you go. maybe light at the end of tunnel. could be more cars coming at you. i'm done with the analogies. great, edward lawrence following all of that from the white house. federal reserve starting two-day meeting today. they will wrap up tomorrow. the assumption they will raise interest rates not by the means they have in the past, maybe a quarter of a point. go to danielle dimartino booth former dallas fed visor, quill intelligence ceo. danielle, where are you on this?

>> even though chairman jay powell is going to reduce the side of the rate hikes, princess bride, rodents of usually large proportions. that was 2022 story, 75 big basis points each meeting. we're going to a third of that tomorrow with the announcement. i think we'll stay there come march, even potentially into the summer. at the same time we've seen this old thing you remember it, called money growth, m2 growth. we've seen that turn negative in first time in a series that dates back to 1959. neil: what would that mean if that is happening? >> the fed is continuing in the background to shrink the size of its balance sheet. that is a dual form of tightening in addition to the rate hikes that will continue to the same pace we got to in 2022, in addition to lower rate hikes. people have to understand the fed continues to double tighten is the words that we use and they have ever intention of doing that through june at least. treasury secretary janet yellen

has given jay powell a huge boost because she is going to be spending money out of the nation's checking account otherwise would be required to stay in the nation's checking account because now we're under emergency measures. neil: let me ask about the balance sheet tightening. that you said could continue through june. >> absolutely. neil: we're not referring to the rate hikes that you think we'll see one tomorrow, probably see another one quarter -- >> potentially another. neil: in may i understand that, the likelihood of another quarter-point hike is only about 30%. in other words, the markets don't see a hike for now, happening. >> they're not anticipating that but they are anticipating and powell and others have said, we're going to keep shrinking the balance sheet for the remainder of 2023. that is another form of continuing on with tightening. not that they get the overnight rate up to the five percentage point level which we haven't seen in how long? neil: incredible. >> all four children as soon as rate height comes through they will invest in savings account.

first internet bank of indiana, get 5% tomorrow. we'll teach them -- compound interest? neil: for now, when you look at it, does the fed risk overdoing it with either one or both of these strategies? does it risk overdoing it, layoffs we've seen now spread beyond technology? you heard about the dow, 3ms, some of these that they pick up a pace here? >> we are indeed seeing that in fact bank of america came out yesterday said we're only 50% of the way through technology layoffs. so we'll see more of those. you're right, whether talking about homebuilders or industrials, you are seeing a broadening of the layoff cycle. so he is knowingly hiking and tightening monetary policy into a recession and, you know, i think -- neil: what if it is not so bad? the flip argument of that, planes are packed restaurants are packed, theaters are packed, broadway shows are packed, maybe we are going through the last blast of money available to us

post-covid but it has been fairly strong and that is the one thing the president keeps championing. look at the wind in my back. you say? >> he put the wind at the back with $164 billion in 2022 in business income tax refunds that was a loophole that he signed in with his last stimulus package. so that was money that mainly went to the top earners in the country who have been able to splurge own on travel, on broadway shows. neil: not only the rich doing it. filling jetblue planes. >> they are as well. that was extra $164 billion in stimulus. neil: you don't mind the economic activity where it is? >> not seeing out of consumer sentiment, greater recognition we're going into recession. more job losses, you can talk about gee, i'm fighting inflation, but does inflation matter if you don't have a job? neil: we're still not at that point. 10 million jobs go begging. gm says things are fine -- no pun intended what is going on? >> last week we had

statisticians in the beltway tell us they made a minor asia record in second quarter of 2022. instead of 1.4 million jobs, it was almost negative 300,000. neil: things are bad. in your eyes the idea job market is strong that is just a mirage? >> i'm sorrow the bureau of labor statistics in washington, d.c., is telling us that as they come through with revisions. statisticians have a hard time capturing inflection points, they do a 1.3 negative job revision for 2022? neil: it would take a long time to pare those available jobs, right? >> the job postings specifically to poach your competitors best worker who you don't have to spend money training, those job openings are through the roof. job openings to pull unemployed americans off the sidelines have flat-lined. that is a fed staff research paper i just cited. neil: that sounds exciting. get your take on those who pair

this to the carter stagflation catching up to us. i don't see that. you do, right? >> i don't necessarily see the persistence going forward. we do see a lot of disinflationary pressures but as far as the average u.s. household concerned a dozen eggs is still through the roof and gas prices have started to tick up a little bit as well and you're hearing, maybe not you, maybe it is your nabe for losing your job. that is a misery index. maybe not as high as the misery index from the carter years but we still have high household price pressures and now we have rising unemployment. neil: all right. we'll see. just slightly differ on this. we'll see what happens. meantime, we have been telling you that we always want to hear from you, on your views, whether bullish, bearish on the economy. saw a good example in the past segment. we've been using you in the one hour format, we like to call it neil mail. it does not rhyme but closest we could come up with.

email us at cavuto@fox.com. they are coming in fast and furious. you do love me. shows up in writings like this a text from ashiah, another gin and tonic take time off and rye negotiate. i think you want me to leave. because you have written before and i know you're watching. we have fire the river. the great thing about tweeting call yourself anything it works. pin down the left and right on spending taxing. we're broke. do it live. neil: we're live every day. conci few things that are guaranteed, neil cavuto is one of them. in anyone badmouths him, block them. that is an excellent idea. all of you saying nasty things you are now blocked. sean, writes neil commentary on get in touch with neil segment is absolutely hilarious. keep it going. the pity with the comment not

meant to be hilarious. if you're getting a kick out of it, keep them coming good or bad. we like to hear from you. also danielle saying where we're going, if we get new something worse. share your views. a lot are conveying to me you agree with her and then some on that issue. meantime the push right now to just ban tiktok period in the united states. as you know the ceo of that company is going to come before congress in march but ahead of that yet another governor who said, not in my state. tate reeves is the latest after this. ♪

the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. oh yeah, that is them. (that is howard) yeah, that's on howard's campus. ohhh, she's so powerful, she carried on the family legacy. we were blown away. (chuckles) i not only was a student and an undergrad, but i've been a professor there for twenty years, so it's really a special moment to know that

i had a family member who over a hundred years prior have walk these grounds. it's deeply uplifting. yes, it is. we're walking in their footsteps. desert mountain energy, a primary helium producer, is poised for big things in early 2023, with the start of production at their arizona helium project and the commissioning of an accompanying processing facility. desert mountain energy. lomita feed is 101 years old. when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com. as a business owner,

your bottom line is always top of mind. to keep the people that have been here taking care of us. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ese days, our households depend on the internet more more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today.

♪. neil: here we go again. mother nature doing her best to screw up a lot of lives right now. in the texas area, throughout much of the south, soon the central part of country you will be hearing about it. robert ray, fox weather multimedia journalist in abilene texas with more. robert, what are we looking at my friend? >> neil, nasty conditions here in deep in the heart of texas,

abilene. you can see frozen crops. look out there, way down there, you see the power trucks, they are lined up. they are waiting potential for power outages here, about 180 miles to the west of the dallas metroplex. it has been nasty. it has been snow, it has been sleet, it has been rain all day and we'll continue with that. expecting potentially a half of inch of ice all over the roads by tomorrow. neil, i want to show you this, sure, it look look at the road, it doesn't look like ice on this. you realize this is rock solid ice. impossible to drive right now. speaking of driving, neil, take a look at video we shot last night. ben west, my photographer and he trying to get from dallas here to abilene, about 180 miles away. we got outside of fort worth, boom, gridlock. literally hundreds of vehicles and trucks stuck in the slush

and the ice. we sat there for 2 1/2 hours before we could even move. and then it was another almost four or five hour drive just to get out here to abilene. and the issue is that i counted on the eastbound side as we were driving westbound about 25-mile backup. that is what many areas in dallas are experiencing today. to think we have some snow flurries down in austin and san antonio. this ice will continue for the next 24 hours here in abilene, a town known for the cattle industry and its agriculture. all of this neil, now, the prairie in texas is frozen over. you look at this stuff, it just comes and it falls apart the minute you grab it. this is what we're going through as the roads are nearly impassable and the cancellations on flights just continue to rise, neil. another major winter event. what a system this is, what a year this has been thus far,

2023, neil. neil: we've still got a ways to go to your point. thank you, my friend, be safe out there. to robert's point, a lot of new york airports are on flight stoppage. all three of metropolitan airports halting flights, delaying them, connections down south, you know how it works with the spoke system that we have for our airline industry, one can't connect. the other can't connect, so you don't connect with that flight. want to go over this with tate reeves now, the mississippi governor. i was catching up with lots to talk about with the governor today. i notice it is 42 degrees in your stay right now. you don't often see weather like that. >> well, neil, thanks for having me on. it was 62 late afternoon yesterday. it got down below freezing overnight. we had a front come in that brought a little bit of rain a little bit of wet stuff but mostly brought the cool air and

we are anticipating that we are going to have icing and potentially snow, primary in the northern counties of our state. we're monitoring that very closely right now. neil: you're not used to this kind of stuff. you don't have the equipment to deal with this kind of stuff. it happens so rarely in a state like yours. so how do you advise folks? >> we advise people to be smart and to be safe and to make sure that they, when they go out, that they know what they're getting into. we do have a lot of people here in mississippi that have pickup trucks. i feel confident we'll be pulling people out of ditches, if in fact the roads do ice. we try just to be careful and know that those that have to get back and forth to work will get back and forth to work. but, there certainly creates challenges that we don't deal with every day. neil: right. >> we had to deal with it from time to time over last several years. hopefully we're getting better at it. neil: i didn't mean to digress. i saw that temperature, that

isn't mississippi, isn't it? you confirmed it is indeed mississippi. governor i do want to switch to something that has become a political hot potato, that is the future of tiktok, the chinese social media service. as you know the ceo of that company will be testifying before congress in march but by that time more than half the states in this country could have and likely will have suspended tiktok at least at state institutions. i believe you're looking to do that among institutions, state-run-instutions in your state. it follows something that has been very similar going on in a host of other states. i'm curious where you see it going, out line your plans to deal with tiktok? >> well what i would tell you, neil, is that we know that the chinese communist party has a history of stealing american intellectual property, they have a history of stealing americans personal information and we want to be proactive insuring that

they do not have the ability to steal mississippi state government data. that is the reason i outlawed all tiktok on all state-owned devices because we know that the chinese often use social media platforms such as tiktok to get that data, get that information and we're going to be proactive in mississippi. neil: you know, governor, the reason why we raised it, last week i had the montana governor greg gianforte, doing the same thing banning tiktok use at montana universities, but running into young critical of people in that state. they don't mind tiktok. they're very cynical when it comes to people snooping on them. they figure american companies do it. chinese companies are probably doing it but they like the videos, they like communicating on it and they're not happy when a governor tries to shut it down. how do you deal with that, or will you deal with that in

mississippi? >> well, greg is a good friend and while he may be dealing with a young people in his state i will tell you i'm dealing with a few young people that live in the governor's mansion in mississippi. i have three daughters at or near teenagers and obviously it is, it is a device that, it is an app that is almost addictive for many of your young folks. neil: are they not happy, are they not happy with what you're planning, governor? do they let you know? i know you're the governor of the state dad, come on already. >> no doubt there is opposition to what we're doing but we have got to be clear in recognize that china is not our friend this is a clear and present danger to cybersecurity in our state and honestly across america. we've got to be cognizant of that, we have to be willing to take sometimes difficult decisions to make sure we protect ourselves. when we think about warfare in

the future, warfare is not necessarily troops on the ground or boots on the ground anymore. there is a real battle going on for information in cybersecurity. we've got to do everything we can as a state, ultimately as this nation to protect america's interests and we're willing to do that. neil: all right. anyone willing to take his own children on to do the better cause is a brave governor. let me know how that goes, sir. very good seeing you again. governor tate reeves of mississippi. a lot of governors in this position doing this they have kids of their own, not so fast, pops. we'll see how that one goes. we'll look at tesla, how it is dealing with some competitors doing what tesla does, cutting the price of their electric vehicles after this. ♪. the "good news of the week." and, boy, do we need it. [ chuckles ] well, this safe driver saved money with the snapshot app from progressive.

-how do you feel? -um, good? he's better than good. he got rewarded for driving safe and driving less. sorry, barb, just to confirm, this is the feel-good news of the week? this is what we found. -yay, snapshot!

♪. neil: you know folks stealing cars, that has gotten to be a big business right now across

much of the northeast, i'm told across the country. right now just as all this is going on, state farm, progressive are not writing policies for certain car models. i believe. gerri willis is here to explain. kia, hyundai models because they don't have anti-theft device. >> anti-theft devices are common in cars, particularly with the push brought ton starts, some of the cars on the road for a while don't have it. they are easily stolen. rising crime is creating unintended consequences for drivers, with auto thefts on the rise, two insures, state farm, progressive will end coverage for some vehicleses that lack common anti-theft devices. they were made by hyundai and kia between 2015 and 2019. they don't have the technology, really to prevent hotwireing they're being stolen at alarming rates, up as much as 300% past

two years in some cities. enter social media of course, specifically tiktok where kids as young as 11 are finding out on videos how to steal these cars. it is like boosting autos 101, all right? then they're going joy-riding. listen. >> we've seen social media channels get aggressive when it comes to politics, but when we're talking about safety and security of vehicles i think it is important to make sure we're taking a second look what we're allowing to be posted. >> well somebody needs to take a second look. i don't know if the communist china people are going to do that but for their part, hyundai says they're working to fix the problem. in a statement to fox business the automaker saying this, engine immobilizers is what the are called, standard on all hyundai vehicles produced since 2021 and been longstanding equipment with hyundais with push button ignition. free steel locks and customized

security kits to the vehicles. this is cold comfort for people who may be struggling to find some kind of a coverage for your car. what do you do? you can't really drive without insurance. neil: talk to your kid, if they can find, i don't know, but that is wild. gerri, thank you very much. gerri willis. different times today, my friend. gary black, speaking of all things auto, future fund managing partner, former goldman sachs asset manager, cio. very big believer in tesla. done very well with the stock. kind enough to join us. kerrey, good to have you. are you still a tesla owner? do you like what you see? there has been a clawback from a stock that lost a lot of ground last year. some people say it found its footing this year. what do you say? >> we think tesla is still a very cheap stock. you know i can't find other megacap stocks. you can look at apple, microsoft, amazon, google that are growing their volumes at 30

to 40% per year, that trade at 30, 40 times earnings. there is just nothing else out there like it. to your point it came down last year because it had to cut price in china and the u.s. but you're going to see huge volume in the first quarter. it is capturing back a lot of the volume that it lost. what we found, when you look at price wars going all the way back to the friday back in the 1990s, when the market leader cuts price, they have the most room, the most ammunition to cut price because they make the most gross profit. in this situation we've seen ford mach e cut price. tesla will be winner in price war as most market leader when they cut price. we're not that worried about a lot of competition coming. we've been hearing that for years. it hasn't impacted tesla that much. neil: i know tesla is often grouped, gary with tech stocks, not auto stocks. as auto stocks it goes very expensive. as tech stocks go not so much.

is that how you look at tesla, as a tech stock? >> look if you take any finance courses you will see that you know pes are a function of future growth rates. they're not a function of the industry in which you operate. so you can look at chipotle in restaurants, look at lulu in apparel, they trade at much higher multiples than their industry groups and look tesla should be trading at a much higher multiple than gm, ford, volkswagen because it is growing at 30 five to 40% a year. those companies are all shrinking. it should trade it, it is not even a tech multiple. it should trade at a multiple with a 35, 40% growers. if you look at other 35, 40% growers, they trade at much higher multiples than tesla trades today. neil: the stock had huge run-up allowing for last year's tumult. that has not been sorted out. it has aways to go. you don't buy that. is it built on the fact china is

open for business again? that tesla by far the biggest ev seller, all the competition, the fact they're cutting prices shows that they're trying to keep up with tesla but how do you justify your passion for this? >> so, if you look at where ev adoption is globally, it is 10%. u.s., 6%. six out of every 100 cars in the u.s. are sold are evs today. that number will go 100% at some point. evs are just a better product. people hate putting gas in the car. so much cheaper to operate an ev car than it is a gas-powered car. so as prices come down you will see ev adoption in the u.s., you're already seeing it in china and europe head toward 60, 70%. just do the math. today we're at 10% ev adoption. we're assuming we'll be at 60, six, zero, by 2030. you look at 60 divided by 10, figure out what is the growth rate implied, that is 35%

tailwind for tesla. when bears say trade at multiple consistent with other automakers, they're looking at over all autos. if you look at evs, evs are growing 50%. neil: you don't see any of the problems? a lot of people say great for taking a small trip. you have to factor in charging time all that, if you can find charging stations, all the confusion over that. you don't think that will be impactful here? >> you haven't seen it in norway, netherlands. china, ev adoption is 25% already. the thing about tesla, back to mach e which just cut price, tesla has range of 300 to 350 miles per charge. that for most people, that is enough. charge it once a day, if you have a charger in the garage, costs you 1000 bucks to install and buy. tesla has over 40,000 charging stations around the world. i don't buy that argument that you know, if you have an ev you

have to charge it because it is simple. most people, when you look at people who buy evs, they don't go back, they stay with evs. must not be that inconvenient charging the car. no different than charging phone overnight. neil: if you go on a long trip, you have to build that into it. it can add on. they are beautiful vehicles, i wonder they have to speed that process up? >> if you have 40,000 charging stations including 20,000 in the u.s., that's a ton of charges. you will continue to have more and more of those. neil: all right. >> that to me not the issue. the issue is getting the price down to a point where they're comparable to what a nice car or a gas-powered car is. then you will see the ev adoption go through the roof as it has around the world. neil: all right. >> when you look at norway, i think 70% today of all cars sold in norway are now evs. china it is 25. europe mainstream, is 15, 16%.

ev adoption is going through the roof. that is what is causing tesla earnings to soar, ev adoption keeps going up. neil: if norway is into it, we should go up. gary black, future fund managing partner. big believer in tesla when few were. panned out now. talking about controversies having nothing to do with cars but people getting charged up over migrants complaining where they're staying in new york and refusing to budge. we'll get into it after this. ♪

say goodbye to multiple daily insulin injections with the new omnipod 5. the only tubeless automated insulin delivery system... that integrates with dexcom g6. automatically adjusting your insulin to help protect against highs and lows day or night. don't wait to simplify life with diabetes. get started today with no contract, and no commitment. go to omnipod.com for risk information and instructions for use. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod.

you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. ♪. neil: all right, when migrants revolt, at least those who were put up at a shelter, actually the watson hotel in new york city, now being told they have to go to a new shelter, maybe

not quite as nice, not nearly as nice in brooklyn, and they're not accepting it sitting down. they're not budging. david lee miller with more from the big apple. david lee, what is going on there? >> reporter: neil, the standoff continues between some migrants and city officials but resolution could be on the horizon. but for now a group of about three dozen migrants, all single men, remain living on the street, on the upper west side, refusing to give up their encampment. they have been living in a hotel turned shelter in the city's expense, but were relocated so the hotel could house migrant families including women and children. some migrants rejected by the new housing provided by the city, a brooklyn cruise ship terminal, it was uncomfortable, not sanitary, too far from the subway. they prefer living on street. some boarded buses to brooklyn. short time the commissioner for

i am my grants. he boarded buses to brooklyn, telling them not to believe whatever they heard. >> rumors are spreading among migrants in social media, we're removing people from the city, deport them. that is not the case. we're battling misinformation. we want to make sure migrants know we're here to support them. >> reporter: now the city blames local activists fomenting discontent about that brooklyn facility. new york mayor eric adams toured the temporary housing released a video on twitter to show it was safe and clean. >> warm inside. about the food not being there, you know, healthy food is present. even snacks are healthy. >> reporter: mayor adams has repeatedly said that the city needs financial aid from the federal government to help foot the bill for the more than 40,000 migrants who have arrived here since the spring.

president biden is in new york city today to make announcement regarding infrastructure. the two leaders are going to meet about, a little more than one mile, neil, from the migrant encampment but it is not expected that the president is going to stop by this location. neil? neil: david lee miller, thank you very much. as you stated here the president is about a mile away from where all of this is going on. he is trumpeting another beneficiary of that big infrastructure package that was passed in a bipartisan manner last year. this is to celebrate the future of another tunnel connecting new york and new jersey. of course they already have the holland and lincoln tunnel this one i will be about a 300 million-dollar affair, once it is complete and ease congestion. they hope, in the tri-state area. but that is always the hope. just keeping ahead of it. we're monitoring that. we're also monitoring what is

coming up next on "the big money show." my good friend, professor brian brenberg. hey, brian. >> neil, biden is touting millions in infrastructure spending ignoring the migrant crisis 30 blocks away. we'll talk to congressman brian babin on his push to ban tiktok at colleges. katrina campins on the housing market. more "coast to coast" after this. ♪

at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪

♪. >> reporter: welcome back to cavuto "coast to coast." i'm hillary vaughn. the president today making it official, diddlerring an official end to the public health emergency for covid-19 four months after he declared on "60 minutes" that the pandemic is over but the president did not seem to be in a celebratory mood earlier today when he was asked about it. >> what is behind your decision to end the covid emergency. president biden: the covid emergency will end when the supreme court ends it. may 15th. that is all. nothing behind it. >> reporter: the president misspoke though the official end date is may 11th. it is not up to the supreme court.

it is the president's decision to declare an emergency and also to end the emergency which he is doing. but a fight happening in the supreme court whether or not biden's student loan bailout paying off $20,000 of debt on taxpayers dime is constitutional or not. but while the supreme court decides, the cost of the plan has supervised. according to the penn wharton budget model one part of the plan, income driven repayment plan would adjust monthly payments to the amount of money you make is now going to cost a lot more, estimating it could cost $361 billion. that is more than two times what the biden administration estimated. even though the public health emergency is over on may 11th, student loan payments that have been paused in the meantime will remain paused until at least the end of june. that's if the biden administration does not extend it yet again. neil? neil: thank you for that. hillary. much appreciate it, my friend. go to congressman jason smith, the new house ways and means

committee chairman. chairman, very good to have you. this student loan thing, where are you on this? the cost keeps ballooning. i'm just curious what republicans plan to do to address it, you know, just move on from it, what? >> i mean look at it. $360 billion to be proposed to be spent by president biden by the stroke of a pen. we calculated last year when i was the republican leader of the house budget committee, we just took seven of president biden's executive orders, including the student loans and it was going to cost us more than a trillion dollars. this is bypassing congress. it is unacceptable. the courts need to continue to move forward, to not allow this to happen. it is unconstitutional, it is illegal, he is bypassing congress. congress should appropriate money, not the white house. neil: talk a little bit the planned meeting tomorrow, chairman, between kevin mccarthy, speaker of course the president of the united states.

discussions of that are on the table but the president won't budge from tying raising that debt ceiling to spending cuts so what do you think comes out of this? >> you know i'm just glad president biden finally backtracked once again and, he said all along he wasn't going to meet and negotiate the debt ceiling. now he is. so i'm excited that he is. that's the responsible thing to do. we have been calling on president biden and chuck schumer to come to the table, let's address this fiscal insanity and let's try to find some common ground. the republicans control the house. the american people are demanding fiscal responsibility. let's find this common ground and i hope that joe biden will work with speaker mccarthy and find the common ground. he did that. he did that back in 2011, when he was vice president. that was tied to the debt limit. that came up with an agreement that put a cap on spending and it saved trillions of dollars.

so back in 2011 it worked for him as vice president. it should work for him today. neil: real quickly, chairman, there are a lot of folks, even conservatives in your party, if this goes to the brink, it looks bad, voters will blame republicans fairly or not. and that is a needless wound you don't need at a time you have got momentum. what do you say? >> neil, we need to do what is right for the american people. republicans will not default and surely joe biden will want to get this fiscal insanity under control because of his $10 trillion in increase of new spending over the last two years where the democrats controlled the house and senate it led to record inflation, the highest inflation in 40 years. that means every viewer watching this has to pay more to put food on the table, clothes on their backs, gasoline in their cars. they want reckless spending to stop.

i hope president biden wants the reckless spending to stop. neil: we'll watch closely. you have a front row seat to put it mildly. jason smith, house ways and means committee chairman. >> thank you, sir. neil: i don't know if this is good news, paying 9,000, $10,000 to go to the super bowl. that is just for starters. i wonder if that includes hotdogs? connell mcshane is next. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle.

.. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you.

avalon advanced materials is planning to partner with lg energy solution to establish a new supply chain, to power the green energy transition. plus four advanced stage projects producing critical minerals including rare earths. avalon advanced materials. if you have diabetes, then getting on the dexcom g6 is the single most important thing you can do. it eliminates painful fingersticks, helps lower a1c, and it's covered by medicare. before dexcom g6, i was frustrated. all of that finger-pricking and all of that pain, my a1c was still stuck. my diabetes was out of control. i was tired. (female announcer) dexcom g6 sends your glucose numbers to your phone or receiver without painful fingersticks. the arrow shows the direction your glucose is heading: up, down, or steady, so you can make better decisions about food and activity in the moment. after using dexcom g6, my a1c has never been lower.

i lead line dancing three times a week, i exercise, and i'm just living a great life now. it's so easy to use. dexcom g6 has given me confidence and control that everything i need is right there on my phone. (female announcer) dexcom g6 is the #1 recommended cgm system by doctors and patients. call now to get started. (bright music) doors lead us to places we've never been. your dedicated fidelity advisor can help you open those doors. they can help you create a retirement-income plan designed to balance growth and guaranteed income. and provide access to specialists who help with estate planning to look out for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody!

adam: super bowl every year including those who want to go to the super bowl but the numbers are eye-popping. connell mcshane. connell: a big deal, the super bowl thing. if you want to go there in person you've got to pay up. we have been adding it up for you, we have our best people working on this. it would be tough to get there and back for $10,000, this is from stubhub, close to 5 grand for the cheapest tickets. than the flight, say you are an eagles fan coming from philadelphia, frontier airlines your best bet. we found a flight for 900 like $4 round-trip, friday to monday. for comparison look at united, $2,800 for the same price. some are more than one thousand dollars a ticket. kansas city fans a little

better, you can go from phoenix and back, 780 on united. the catch is you have to hightail it out of of the state in a hurry because the flight home is midnight sunday night otherwise is much more than that. place to stay somewhere near the stadium, glendale, arizona, the motel 6, which is fine, 576 a night. everything else is over $1000. your other option is to stay home and watch the game on television. we have decent news on that front. if you like chicken wings this is very good news. new analysis from wells fargo, they are just out with of this saying chicken wing prices are down 22% from last year's super bowl. some food costs are up but protein is the way to go if you

have a party like steak and burgers and bacon in the wings, they are all down in price, 10 grand out of pocket, stay at the holiday inn or watch on your couch, eat a bucket of chicken wings, make the call. neil: you were showing low end hotels. you can imagine some of these more expensive ones. every year, if they team up, their team makes it, fortunately i am a jets fan. neil: you will never need to worry about it. iran into the same price. thank you very much. you have to have brian brumberg money, he is telling us what is coming up. brian: i've got the brumberg suite at the motel 6