(♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com from the park studio in new york city this is maria bartiromo. >> welcome to the program that analyzes a week that was in the

position you for the week ahead i am jackie deangelis semper maria bartiromo tax cuts over the budget battle as house and senate republicans raised advanced trump's agenda. hopefully will get one big beautiful bill in the house we need to act on border security and national security now. >> this is too important to play a game of chicken we need to be on the same page. >> a be a big beautiful bill has to be by necessity that's the highest probability of success. >> the senate bill doesn't lock in the tax cut which make the economy hung the last four years. >> the senate forging ahead with the two bill approach holding a ten hour voter rama where they hashed out details of the 340 billion-dollar budget plan to boost border funding energy production in the military kicking tax cuts down the road the house plans to take up the own competing resolution backed by president trump next week pushing one big beautiful bill

focusing on $4.5 trillion in tax cuts in trimming down government programs and services. here to react to all the senate budget and finance committee member wisconsin senator ron johnson, so great to have you on the program today. thank you for being here, can you give us the latest on where we stand competing approaches everybody's trying to get to the same goalpost but how would this play out. >> we cannot predict that were certainly in the senate and a fallback position if the house can do a one big beautiful bill we will take a look at it. from my standpoint and focusing on spending, spending, spending. in 2019 we spent 4.4 tree in dollars and we had covid in a massive spending spree in no family member got ill would borrow $50000 to pay for the medical bills if the family member got well they would not

borrow 50000 and continue to spend at that level but that's what we've done we average $6.5 trillion over the last five years last year 6.9 and this year were on track to spend 7.363 trillion% higher than the $4.4 trillion we have to get spending down to a pre-pandemic spending level i love the work that doge is doing uncovering the grotesque waste fraud and abuse and what the house is trying to do is put together a very complex package of taxes they have all different interest in terms of what they would do with salt. it's very complicated bill would be very difficult to pass and what the senate is doing were trying to make sure president trump has the resources he needs to secure the border, defend the nation and do that first and try to keep it as simple as possible

i would be happy to extend the current tax code to make sure we take a massive automatic tax increase off the table and start working on what is far more complex i would like to rationalize the tax code and look at the promises president trump made in terms of no tax on tips that's a far more complex package put together to expect to get that done in a couple of months that's asking an awful lot. jackie: let's drill down on the senate bill that will provide more than $300 billion for border security and defense very important issues president trump opening a new toolbox for border operations by labeling cartels as terrorist organizations. here is vice president jd vance at cpac. >> our message to the drug traffickers get the hell out of our country we will go after you wage war and certainly we want you out of the united states of america. what can we expect that the border patrol is finally able to focus on national security

again. >> first of all we've seen the encounters apprehension at the border plummet they are down more than 90% that's because we have a president who wants to secure the border and i want to point out to the audience remember how the democrats said we need to pass peace legislation we would've been happy to strengthen the president's ability to secure the border but let's face it president trump is here to secure the border in the first or he had the authority and president biden use the authority to open it up and they used it to close it downward and became a liability but now president trump is securing the border but he needs the resources we need to tension beds and complete the wall and funds to deport the criminals that are apprehending he needs the resources it needs them fast that's why we cannot wait for one big beautiful bill that can be passed quickly.

jackie: i understand the urgency that you're explaining, let's switch gears you mentioned it before i want to talk about doge scoring victories after two district judges denied restraining orders that we keep doge from accessing federal database and prevent the mass layoffs and spending cuts are coming to the pentagon ordering leaders at the pentagon to cut 8% from the defense budget in each of the next five years. can you talk about the aspects of this the notion from the democrats that doge should be blocked from being able to look no transparency but the cuts off at important events. >> doesn't that speak volumes with the democrats don't want to explore and uncover the waste fraud and abuse, 2019 we spent 4.4 trillion about this issue $7.3 trillion. doge quite honestly are reviewing the tip of the iceberg includes with waste fraud and abuse the trick will be to take

what doge finds intranet into legislation make sure that translates into real spending reduction getting back to the pre-pandemic level of spending that will not be that easy when you listen to what the democrats were wailing about during our budget voterama everything was tax cuts for the wealthy but there's no tax cuts in there whatsoever is all about providing funding at the border and we're going to cotton/medicare and medicaid and social security. the getty used the same scare tactics that they've used for decades to mortgage our children's future. jackie: a comment on doge in the pentagon? >> i think the elon musk is the perfect person to get inside the military industrial complex, look at the efficiency he brought to space launch in the creation and manufacture of tesla and electric vehicles. the guy is a genius he obviously

knows how to squeeze every efficiency out of every process. i would love to see him take a look at the padding on the military-industrial complex. we spend a trillion dollars on defense my guess a lot of that is misspent. i want to get this in, the u.s. and russia are moving ahead with peace talks without ukraine announcing a meeting between trump and putin by the end of the month this is coming after marco rubio met with russian officials in saudi arabia on tuesday receiving a message from the kremlin claiming that american companies stand to make billions of dollars by reentering the russian market. how skeptical could the usp with a new relationship with russia and is there a role for ukraine in the peace talks? >> first of all the war has to end it's a buddy stalemate russia will not lose the war after recognize the reality i'm not liking the end result but if the end result would be ukraine

at peace in the slaughter ended and the destruction ended and working toward a better relationship with russia that would be a good thing. what is happened during the three years during the stalemate russia ramped up their military industrial base their alliance with china and north korea and iran has been strengthen strategically the ukrainian war has been a disaster for america, the war has to end and i'm all for improving relationships to these people, i don't what is he china or russia are enemies, friendly arrivals okay with the move toward that direction. there is possibility of nuclear war when you start dealing with those types of complex. we have to take that off the table. >> at cpac jd vance mentioned were in the early stages of the conversations and negotiations and we will watch the story closely. senator ron johnson we appreciate your time, thank you.

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there is a lot of talk about trying to push this into one big bill, the notion that tax reform could wait until august is not something that marketing investors would be really happy about. >> no it will not be august. if it goes into two bills is going to be october or november or even december and the end of

the year usual loss to leverage for the easier parts of the bill that will force a yes vote and then it's going to lead to delays and more negotiation and as you say it extends uncertainty and markets. the tubal approach may end up being necessary politically but it's not ideal for markets. jackie: tell me what do you think of the latest headlines that were getting out of doge we are finding billions of dollars of waste in this country. they are talking about giving payments to tax holders, taxpayers because that is their money. the debate on that that could be inflationary but some people say when coupled with everything else that donald trump is trying to do it actually would not be, what is your take? >> i've to take this not inflationary because i know what the definition of inflation is which is too much money chasing too few goods and it would not be adding to the money supply. but i'm very much against it

because if you find waste. if doge is successful in finding fraud and so forth, the whole point is to reduce governmental debt all we would be doing my analogy if the credit card company charges a something wrongly and then we get it figured out and they send us the money but they lead the charge on the credit card. the fact of the matter is were supposed to be reducing the debt for the children and grandchildren it's all our money but they spent our money and more of the if the uncover waste they need to reduce the national debt. jackie: fair point, investors are looking at tariffs looming not necessarily sure if there a negotiation tactic or where it will land with them. if you look at the market right now how do you want to invest. >> we believe very much that the most important factor in market right now is evaluation. there is uncertainty with tariffs and we talked about uncertainty with the trump tax reform and there's always

different macroeconomic uncertainties. by the way geopolitical as well. even if everything goes well even if that macroeconomic factor is good and earnings common solid you just have a market trading at 23 times forward earnings. that to me means quality good free cash flow you could not be reliant on five or six big tech companies to generate the return i think this is a solid year for dividend growers ahead it already started off that way, value is doing well, financial, energy, consumer staples. i think you want to focus on good quality and not be chasing momentum. jackie: i love that back to basics, always great to see you, thank you so much. the american dream of owning a home could face another hurdle as the national association of homebuilders warns that new tariffs could mark

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set to take effect in march could push the cost of construction material higher by several begin dollars. that would drive up the cost of housing. all of this is homebuilders sentiment hits a five-month lot treasury secretary scott bessent says he's confident and beer cans won't feel the pinch from terrorists. watch this. >> i think very little would be passed on to the consumer, the companies on the other side the exporters are going to eat a lot of the cost.

jackie: joined me the corcoran group founder and shark take investor barbara corcoran. i want to ask you how you anticipate will disco do you agree with the treasury secretary. >> definitely not everybody will feel the increased costs in the housing market, new developers are cutting back the size of the homes to bring prices down is going to shift them up. >> the issue has been supplies. we want people to be able to build. >> also renovation people might stop renovating the hose because it'll be much higher i would not be surprised if they had a tremendous effect of ten or 205% on the housing market. that is one thing to think about mortgage rates or the other causing headaches for homebuyers, the 30 year fixed-rate hovering below the 7% mark we are weeks away from the spring home buying season but is telling people what wording the increased buyer competition is causing a spike in prices there also advising people to hold off until the fall or winter if they

want a good deal, you are the queen of deals. the best time to buy is right away when you have enough money to put down because you want to get in have a chip in the market was happening is two thirds of all americans have interest rates below 4% why would they move we have a shortage of housing dumb enough to choose from and that's why were stuck. jackie: if i have a 7% eric i have a down payment that i'm paying 7% interest rate my by now, do it in refinance later. >> houses went up by 4%, the good what were this year going into the season you get a payout in the house price what you saved an actual mortgage. >> let's talk about deals in general are there places, locales, cities and states. >> there are good places when buying real estate. such a good deal and if so much promise for the future buying in columbus, ohio a lot of

properties in a number of other cities but for the average american is very easy to find a deal on a home you can look at homes that are on the market for a long time especially for bit on the market for 120 days and you can look at that date there is sellers desperate to sell program at you can get a good deal houses off season, most people most houses are sold in the spring of the summer and people go out with everybody else. if you shop in december give the best deals in the prices in december always come down. jackie: what are the tips that i love you used to say this to go at night. you know what you're buying you meet the neighbor you do want to live next door. interesting to see what it feels like. some people say i'm not sure that i want to be in xyz but i will grant there, try it out. you recommend that. >> yes, i do if you can rent and

see if it's really for you, two thirds of people have second thoughts about where they buy, they always say i wouldn't about here if i knew whatever, by renting first is a good idea. jackie: i would go back to the market because obviously investors watch interest rates closely and with the treasury secretary is going to do. it doesn't look like we will get cuts at this point in time but they are also watching the ten year yield and you been coming down yields are more impactful only to the investor. it's a nice theory but it doesn't hold. jackie: when you think about american real estate and you think about donald trump and the optimism on so many fronts, tax cuts, the border and what we will see across the board and much of what were seen already with doge operating in their how does that impact teamwork and real estate market. >> i think her surrealistic market. i believe it creates a motive uncertainty that makes people wonder what's going to happen next. whatever their uncertainty the real estate that's with the market get soft it's not because of the fact it's because the

perception the perception is wait and see what's going to happen next i don't think that is good. jackie: i don't hear a lot that is super optimistic but when do you think it will recover. >> i think it's recovery now you have a good deal if you shop smart now and i don't think interest rates will come down. i don't think homeowners are going to let go of the 4% interest rate. i think the market is stuck. just d (♪) (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com pronamel clinical enamel strength

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to make the united states, the conference drawing in some big names from the digital currency world including vivek ramaswamy, cathie wood, mike and not to mention charles payne he will be live from the conference fee churches unit and also don't forget to catch maria this sunday morning on the fox news channel 10:00 a.m. eastern time life for "sunday morning futures" shows exclusive interviews with treasury secretary scott bessent national security advisor michael waltz epa administrator lee zeldin and virginia governor glenn youngkin that will do on fox business. thank you for joining and have a great weekend. >> "barron's roundtable" sponsored by global x etf'