more competitive, they will hire more people, and that wages will start to rise for the middle class. it has been a wild and wonderful day. that does it for me. shepard smith is up right after the break. >> shepard: the house of representatives has voted for the republican tax plan and the senate is looking to make its mark this evening. >> congress is standing at the foot steps of a historic opportunity. >> this is the worst bill to ever come through the house. >> shepard: a look at how the bill will unfold and an impact on your family's tax bill. and white house lawyers set to meet with robert mueller's team this week. if they're looking for a quick wrap up, they will be sorely disappointed. they're saying it's going through next year. and what does jill stein have to

do with this? and north korea's hack attack. the finger is being pointed at pongian for a devastating cyber crime that affected hundreds of thousands of computers. let's get to it. deck, the wise house praising the gop tax plan but holding off on celebrating just yet. house republicans signed off on the biggest changes to the tax system in decades. this sets up the president's first major legislative win since he took office. so in the house with that it's done. the senate expected to vote as early as tonight. there's not much time for a victory lap. lawmakers are turning their focus to preventing a government shutdown this week. unlike with taxes, any spending bill will require support from democrats. we'll have more on the possible shut down and what it would mean for all of us coming up.

first, republican leaders have been trying to sell the tax plan as a gift just in time for christmas. before today's vote, the top democrat in the house called it a scam. >> this is the worst bill to ever come to the floor of the house. with stiff competition for what some of the things they've tried to do. the worst bill in history. >> this bill favors the republican. the democrats are making that argument and it especially favors big corporations. here's what's in it. the plan slashes the tax rate for corporations from 35% to 21%. for individuals, the top rate drops from 40 -- 39.6 to 37%. the plan nearly doubles the standard deduction for 12,000 single filers. $24,000 for married couples. 2/3s of american households use this. if you have children, the tax credit per child doubles to $2,000. a major factor for millions of

taxpayers is where you live. the bill puts a $10,000 cap on state and local deductions. folks in high state taxes including california and new jersey, new york will likely take a big hit. keep in mind while the corporate rate is permanent, much of the individual cuts expire in a decade. by the time this bill comes to a finish, the wealthy will get 100% of all the breaks. americans will get tax cuts initially. the commit will most likely improve in the first and second quarters of the year. in a decade on average, people that make up to $75,000 will see tax increases and that includes the majority of all taxpayers. everybody but the top earners. if you're at the lower end of that, you could see increases sooner. it is important to note republicans say they want to make the individual cuts permanent as well. but they haven't done that. they had to have -- they had to

include an inspiration date in order to driving up the deficit beyond what the senate rules allow. peter doocy may be alone this afternoon on capitol hill. let's get to the chief white house correspondent, john roberts. john? >> if this passes the senate tonight, this will be a huge legislative victory for the president. this was the signature issue he ran on during the election campaign. obamacare was first, but the president really wanted tax reform. that could be on his desk by thursday, friday morning. in terms of when the president might sign this into law, i'm told it has to go through a review process at the white house. the bill is so big, they have to make sure all the ts are crossed and the is are dotted. the first opportunity the president has to sign the bill might not happen until he's in mar-a-largo. he could choose to have someone put the tax reform bill on a jet

and bring it down to him in mar-a-largo but people might not look favorably on that. the signing could be in january when congress gets back from vacation. they have a big signing ceremony and the president proclaims victory. one thing in the big, getting rid of the carried interest loop hole for hedge fund managers that pay about 22.5% on their income, sometimes in the tens of millions of dollars would be eliminated. the president decided to let the bill go through with the loop hole in place. i asked the press secretary, sarah sanders, about that minutes ago. >> carried interest provision, something that this is a loop hole that president trump promised to close. the carried interest loop hole is still there in this bill. why did the president not insist on getting rid of that? >> he laid out his four biggest principles that he wanted to

make sure were part of any piece of legislation. we feel the piece of legislation where it is now answered and addressed that. that's been our focus all along and what we've continued to talk about. >> and sarah sanders this afternoon insisted that this is a tax cut for the middle class despite the fact that when it comes to his business income at least, when he leaves the presidency, and currently because he's still trying investment income off of that, the president could save money on the business side. sarah sanders insisting this is for the middle class. listen here. >> this is a tax plan that we hope benefits all americans, primarily and priority number 1 is middle class americans. this has been this administration's focus. we feel like it's addressed and prioritized in this legislation and we'll be excited to sign it in the next coming days.

>> anything can happen between now and tonight when the senate is expected to vote on the bill. the house is confident that they have the 51 votes. john mccain is back home and won't be holding. the one holdout, jeff flake. he wanted more guarantee that there would be a fix for the deferred action for the dreamer's program. he got that in a meeting in which this legislative affairs director mark short and as well the chief of staff john kelly went to capitol hill to talk to him personally about that. they're looking forward to 51 votes in the senate. >> shepard: and this eliminates the individual mandate in obamacare. >> it does. the tax that people would have suffered had they not signed up for a plan which amounted to $300 a child and $600 for adults, that is no longer in existence. people don't buy health insurance on the exchanges, they're not going to suffer a tax penalty because of that. that has led some organizations

including congressional budget office to say that that could result in 13 million people in losing health insurance and premiums to rise by 10%. sarah sanders said it was a needed fix and one the president was happy to see inshrined into law. >> we've said our healthcare system is broken. it has to be fixed, this is one step in the process. we're going to continue moving for war and looking at the west way to improve our healthcare system and we anticipate that being a big part of our focus next year. >> all of this is one of the reasons why the president wanted obamacare to be repealed and replaced before i tax reform. but even though he lost twice in the senate on this, he says he's going to make another stab at it in 2018. so we'll see where that goes, shep. if i were a betting man, i'd have another buck it doesn't pass. >> shepard: i bet peter alexander would scream but you'd

be wrong. >> you'd be wrong. >> shepard: republican lawmakers push the final bill through. the senate expected to vote tonight. we'll see. democrats are still fighting this legislation which nancy pelosi has called armageddon. peter doocy is live on capitol hill. >> republicans have controlled the white house, the house and the senate since january and they think that today is the day they finally take advantage of having complete control over the legislative branch and the executive branch to pass what they're calling and stressing they believe is a historic tax reform package. you don't often hear cheering from members on the house floor with the exception of the president's entrance on the state of the union night. that's what we could hear from outside the chamber. when we were done, the leaders made this happen came out for a victory lap. they stress that they this this is something that everybody in america who pays tax to uncle

sam is going to benefit from. >> we heard you. we heard you loud and clear. that's what this bill is about. it's about the american comeback. the opportunity to let you keep more of what you earned. to let america competitive around the world. and to make sure small businesses have an ability to compete. >> speaker ryan's staff has been very up front. they consider this to be a career highlight for a former congressman and committee chairman who has been talking about tax policy for more than a decade. now they just sit in their offices, shep, and wait to make sure that the senate republicans don't mess it up for them. >> shepard: the democrats are trying to shed lights on part of the bill that haven't gotten that. >> and we've heard from them, too. they do not have the votes to stop this measure in the senate. they are trying to whip up public support against it right

now. a big part of their argument is that if you're the little guy out there watching, they don't think that this benefits you. they instead think that republicans are just trying to do favors for friends that are ceos and business owners. >> it's a very, very bad bill. what a missed opportunity. they could have had 80 votes but they went for rushed partisan and secret. they'll get a bad bill. >> this is something that is expected to pass both chambers with republican votes only. we don't know yet if any republicans will vote no in the senate. there were 12 that voted no from parts of the country that have high state and local taxes because this bill does make a change where you can only deduct $10,000 of your state and local taxes once the new policy in place and in fact congressman peter king from new york told me because of the changes to the

salt language, this should be a big winner for president trump nationally but not in his district. he says trump voters in his area won't like it much until local leaders try to lowter taxes. >> so the local leaders are trying to lower taxes? that's not what is happening. it's expensive to run this city as it turns out. peter, nice to see you. the tax bill could be a gamble for the gop. republicans are betting it all on 2018. so could this plan help them win over the mid-terms? or could it backfire and hand congress to the democrats? that discussion coming up from the fox news deck on this tuesday afternoon. great to have you in.

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tell your doctor if you have an infection or symptoms. or if you have received a vaccine or plan to. if you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen. serious allergic reactions may occur. never give up. see me. see me. clear skin can last. don't hold back... ...ask your dermatologist if cosentyx can help you find clear skin that lasts. >> shepard: breaking news. stuff on the move. moments ago, the tax bill took a trip across the capitol, physically delivered from the house side to the senate side. there lawmakers say they will vote on it later today and the final step before it goes to the president's desk. though they said he was going to be at mar-a-largo so it may have to wait until the beginning of the year. they couldn't e-mail it, i guess? i don't know. tom is live with us. so is this a complete deal? >> sure looks that way. this is heading out there. they're talking about when the president will sign this.

beginning of next year. so, you know, things could change. we saw that twice with healthcare. sure looks like a done deal at this point. >> shepard: it's interesting how they can say one thing and then the truth seems to be something else. in this case, over the period of this law, if you use all of the calculations that are available for public consumption, nonpartisan in washington, by the time it's complete, middle class people pay more and the rich get all the benefits. >> yeah, there's a lot -- >> shepard: 107%. >> yeah, it's interesting the way that it sunsets towards the end of what would be a two-term administration. so you know, leaving that political hot potato there for whoever the successor is. so a lot to be hashed out. we saw that drama with bob corker, real estate holdings played out -- >> shepard: you can explain that if you want to, tom.

>> i'm not incredibly well-versed on that one in particular. >> shepard: in general if you're a pass-through company, then the money that you receive is taxed at a lower, a than it would be if it was anybody else. it's a benefit for big companies, businesses and the extremely wealthy. >> yeah. that's -- the question where he got in trouble for that was there is some accusations that he had asked for that to be put in there. they denied that. you know, that's what happens when you're doing things fast. we're in kind of the inverse of 2010. in the political dynamic, where things are in the house, big legislation. remember the chants from the tea party is "read the bill." you have the same thing from the democrats.

507 pages. tick through the whole thing. i think what is fascinating to watch here, and i think the expectation is, that we could be at the forefront of another big wave election like we saw in 2010. the roles are completely reversed at this point. absolutely reversed. so there's a ton of chatter about this. the big question really is what is going to happen, what does this do for 2018 for the republicans politically? does this juice their base? does this get people amped up in a way that they haven't been in some of these previous special elections that we've seen? the virginia election, or does this get the democratic base amped up? do they take to it the bank and sweep through with the wind at their back? that's kind of the big gamble going on right now. >> shepard: we'll know when we know. thanks, tom. just days into the deadline to prevent a government shut down

and congress still can't agree to get it done. what does it mean? how a shut down could impact millions of americans as "shepard smith reporting" continues in just a moment.

>> shepard: congress is racing against the clock to avoid a government shut down. lawmakers have to strike a spending deal by midnight friday to keep the government up and running. if they fail, that could affect you in ways you might not realize. for instance, when it comes to getting a passport or tax refund on time. blake burman is live with us on the north lawn. who could the government shut down effectively if it happens, blake? >> the most impact would be on nonessential federal government workers. they would be told to stay home.

if they're not on the job, that would trickle down. just a couple tangible examples. national parks would be closed. here in washington d.c., the popular museums would be shut down as well. as we head to tax season, we've been talking about taxes all day today, this could have an impact on the irs. not everything without "shut down" because of essential federal government workers would still come on in to work. that includes military personnel, air traffic controllers as well. shepard, this could have an impact on federal government workers as a whole depending on the circumstances. if this happens, how long it were to happen, this could impact paychecks. a potential delay for the workers during the holiday season. >> shepard: remind us what happened the last time the government shut down four years ago. >> yeah. of course 2013. the first 16 days of that month. after that, the office of management and budget in the

office administration put together a report examining the effects. here's a handful of them. according to the report, a combined 6.6 million days of government worker furloughs, the small business administration was unable to process them. $140 million in loans they delayed. $4 billion worth of tax refunds. forced headstart slows sures for nine days. i could give you hundreds of examples here probably. you might remember another one as well. there were four soldiers that were killed in afghanistan during that time frame. their families were not awarded the death benefits they should have received. congress had to intervene so that the families could get the benefits. >> blake burman, thank you, sir. continuing coverage of the republican tax bill that just passed in the house of representatives. the senate is next and the president will have a live report from capitol hill on what happens next after bottom of the

hour headlines from fox news.

>> shepard: the fox report now. headlines from the fox news deck. a deadly shooting in times square days before christmas and the new year's eve ball drop. cops here in new york city say somebody shot a man in the head outside a bar on 48th street about 4:00 a.m. no word on any arrested. firefighters gaining ground on a huge wild fire in southern california. officials say the fire is burning northwest of los angeles. it's halfway under control, they say. they expect it to become the largest wild fire in california history before it burns out. that fire has torched 75 homes and blamed it's on the deaths of two people. cops in england say they busted four men suspected of a terrorist attack. police raided homes in manchester and brought in british army bomb squads. the british media report the

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>> shepard: more now on the gop tax place. house republicans did their part. now it's in the senate's hands. let's to chad pergram. how are you? >> how are you, shep. >> shepard: they lost about a dozen republicans. you see the states and you know why. >> this is better than november. 13 nos on the november vote. one switch this time. tom mcclintock, a republican from california. look at most of the no votes. darrell issa from california. most of them are moderate republicans from high tax states. that tells the story. before i went on the air, they brought the house bill over to the senate. it's a big piece of legislation, about 500 pages. they're voting now on what we call the motion to proceed to

the bill, this is where you have to vote to start the debate. that shouldn't be a problem. once they finish that vote, the senate is into ten hours of the bill. this is not to be filibustered. this is all under budget reconciliation, which are new to filibusters. there's a chance it could come back to the house if there's a point of order that violates the rules and that point of order is sustained. otherwise, this should pass the senate tonight. we'll have a maximum of 99 senators voting. we still don't know the disposition of jeff flake. he's the republican senator from arizona. he was a yes last time. there was one republican no. that was bob corker of tennessee. they should pass this at 50-49 sometime late tonight. we're thinking 10, 11:00. >> the way i understand this, everybody will get more money in the first and second quarter.

no doubt about that. over the course of the law, it's a transfer of wealth from the middle class to the rich. how do they reconcile that? how i do they say they're going to do what they promised to do? >> that's the argument. they think they can grow the economy and the old kennedy express that a rising tide will lift all votes. they put the immediate benefit in the first few years. that's what they have done here. not all tax cuts are permanent. that's something that they'll have to have another congress address. they don't have the circuit breakers built into the build, which is something that the democrats have pushed for. bob corker pushed for something similar that would turn off some of these tax breaks if they don't get the economic development that they helped and

if they explode the deficit. >> and those that -- politics is a funny thing. you saw one thing when you're in power and another thing when you're not. they're not making apologies that they talked about budget definite -- deficits. >> and that goes to broader issues like members of the freedom caucus are upset they don't have any deficit reductions. and i asked why this change of heart? what happened? and they said we just can't cut. hard to believe. >> and the president talked about the pass-through earnings. he campaigned on it so strictly, he got enormous applause from middle class, trump republicans along the way and it didn't

happen. >> yeah, that's something that you'll look to see when it comes to the ballot box come november. you know, look at some of these districts in these high tax states in california where you have the middle class voters. are they going to turn out and vote for darrell issa? he said i didn't vote for this. you can look at the republicans of new jersey. someone else that voted no. again, you might have some members that are from the high tax states, tom mcarthur comes to mind. that's where they will try to market this and say this is good. i met with steve scalise. he indicated to me that the next big push is to sell this. so they sold it before but now they feel like that it have to sell it again. this is going to be a pivotal vote for 2018. this could determine if the republicans or the senate holds the house.

>> shepard: thanks, chad. the fbi's second in command facing questions from the house intelligence committee today. what we know about the hot topics behind closed doors.

>> shepard: the deputy fbi director andrew mccabe testifying on capitol hill on the rush investigation. lawmakers expected to question deputy director mccabe on peter strzok who was reassigned from his team after the agents sent texts mocking president trump. strzok was part of the team investigating hillary clinton's e-mails, this comes as a special council investigator told the washington the investigation will continue through next year, despite attorneys for president trump saying they hope it wraps up soon. robert mueller is looking into russia's meddling in the election and collusion with team

trump. the white house and vladimir putin have said there was no collusion. let's turn to judge andrew napolitano. hilo. >> hi, shep. >> shepard: much has been said about obtaining e-mails in the -- in regard to this investigation. it's been widely said trump's lawyers believe this was illegal, a horrible thing happening. which is ridiculous. >> when they ran the transition, the government services administration gave them the computers, the software and the server. every time they went on those computers, every time you go in any gsa-owned computer, you get a notice. there's no privacy. the e-mail you send belongs to a federal government. >> just like here, belongs to the company. >> there's tens of thousands of e-mails sent and received from transition people. many of them are white house staffers working in the west

wing. okay. that's the background. bob mueller wants to look at the e-mails. three ways he can get them. the senate agent can ask for them, tell the grand jury why he needs them. they can serve a subpoena. they can get a search warrant like with paul manafort. judges won't give search warrants because there's no danger of it being lost. so mueller's people either -- we don't know what -- knock on the doors and say you have the e-mails or got a subpoena. perfectly legal and done every day of the week. >> shepard: a matter of course. not get them would be derelict. the people in the west wing that used to work there, have been interviewed. we didn't know this until two days ago, that mueller had and read their e-mails.

did they tell the truth? >> shepard: the special counsel's office knows if they told the truth or not. >> yes. >> shepard: going back to during the campaign. the two campaigns were warned, the clinton campaign and the trump campaign -- >> by the fbi. >> shepard: by the fbi. russia is trying to do bad stuff. >> right. >> shepard: at that time we now know by admissions and court documents that the members of team trump had had meetings with the russians. >> right. >> shepard: the fbi said at the time, according to the reporting of nbc news and the wall street journal, carroll lee who is now with nbc news, you have to let us know. you have to call us right away. the number of contacts with the russians is very high. >> i don't know the number. the last time you and i looked, it was in excess of 30 contacts. >> shepard: that were initially denied. >> correct. we're starting in june of 15 and going to november of 16.

so we have a 14 or 15-month period in there. that is probably what assist about the director mccabe is testifying right now. testimony that i wish was open to the public. >> shepard: we don't have much -- we know what is public, but we don't have a real idea what the 17 attorneys working for robert mueller have, have learned, have confirmed. >> we do not. but we know that the advice that the president swearers gave him in action said this would be over by thanksgiving is under true. here it is christmas and ratcheting up. we know there's been no denials to "the washington post" reports this morning this is likely to go through 2018. and we also know that bob mueller and team are meeting with the president's lawyers at the end of this week. we don't know what they're going to say.

>> shepard: based on the evidence, who is in the line of fire now? >> jared kushner, donald trump jr. and the president is in the line of fire. i'm critical of our colleagues that say there's no there there. we see 100,000 pieces here and there. people say it doesn't make any sense. it takes time to amass all of these pieces of evidence so that we see the jigsaw puzzle completed. that's what mueller is trying to do. >> shepard: inindictments and confessions. >> yes, yes. look, general flynn was exposed to 60 years in jail. if he was convicted of every charge out there and sentenced to the max. he's exposed to six months. how did he go from 60 years to six months? he must have given them something. we won't know what that is until we get to that point. >> shepard: but they know. >> bob mueller knows.

we don't. >> shepard: nice to see you, judge. >> me shush, shep. >> shepard: vladimir putin calling president trump's national security strategy imperialist and a return to the cold war mentality. that's a word from putin's spokesman. this comes after president trump's strategy that called russian for subverisive measures. president putin's spokeman said it was encouraging that president trump said he would work with the kremlin on areas of common interest. the two leaders spoke on the phone last week as far as we know twice. the white house saying officials are running out of ways to punish the north koreans as they track add massive cyber attack back to that regime. how the administration said they tracked the attack back to kim jong-un. first, a fox weather alert. forecaster are warning folks to

expect freezing temperatures and snow across the country. adam klotz in the extreme weather center. looks like pittsburgh will have a white christmas. where else? >> we're tracking the system to the northwest. pay attention to that area there moving across the country, this is our future radar. taking you to thursday, friday. this is the line we'll be paying attention to. a lot of folks traveling on friday getting you down into the ohio river valley. maybe a couple delays with this system. by friday, it continues to push to the east and that's when we could talk about snow and maybe some delays opening up in d.c. running up to new york and boston. all along this area, a place we'll pay close attention to on saturday for folks trying to get out and travel. otherwise, on the actual holiday, what are we talking about? just the frigid temperatures. these are your sunday morning lows. pay attention to this big arctic place settling in. temperatures getting in the 20s

and teens and single digits across the northern stretches of the country. it continues to be cold tuesday as well. your christmas day forecast, there it is. feeling like christmas. chilly across the country. snow falling here in new york city. cold in chicago. a very christmas like feel across the country. more of "shepard smith reporting" after the break. ur cr for four years. you named it brad. you loved brad. and then you totaled him. you two had been through everything together. two boyfriends, three jobs... you're like nothing can replace brad. then liberty mutual calls... and you break into your happy dance. if you sign up for better car replacement™, we'll pay for a car that's a model year newer with 15,000 fewer miles than your old one. liberty stands with you™. liberty mutual insurance. we're on a mission to show drip coffee drinkers, it's time to wake up to keurig. wakey! wakey! rise and shine!

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>> shepard: and away we go. a live look at the senate. they had to vote on a motion to proceed. that motion has passed. now a couple hours of debate and the debate has begun on the tax plan which passed the house this morning or in the last hour.

and it's morning in california. at any rate, the senate is debating. we're expecting a vote by sometime tonight. there's procedural hiccups that could happen. the thinks is the senate will get this voted on sometime before the day is over. we'll see. south korean president moon is asking the united states so postpone military actions in the area after the olympics. he said it depends on how north korea behaves. the north korean dictator kim jong-un has repeatedly called the drills an act of aggression. the winter games will take place in february in south korea, that's east of seoul. about 50 miles from the north korean border. president moon told nbc there's no reason to be concerned about safety and that he hopes the games will become an olympics for peace. the white house says north

korea's government launched the cyber attack that infected hundreds of thousands of computers. the attack was named wannacry and targeted older versions of microsoft windows. it froze computer and demanded a ransom. tom bossert said microsoft tracked the attacks to north korea and other governments confirmed that. bossert says there's not much more the united states is do to punish his rogue regime. >> president trump use about every lever he can use to change their behavior. we don't have a lot of room left to apply pressure to change their behavior. nevertheless, it's important to call them out, let them know it's them and we know it's them. >> u.s. sanctions meant to curb the north korean weapons programs have not deter

pyongyang. north korea launched their most advanced ballistic missile last month and landed in the sea of japan. experts said it's capable of striking anywhere in the continental u.s. let's go to gorden chang. he's just back from tokyo, a city living in the shadow of the north korean menace. bossert says it's all we can do short of starving the people of north korea. >> that's wrong. first of all, north korea has missil missiles -- has money to launch missiles. they have too much cash. so we have not begun to sanction chinese, russian and other companies that have been working with north korea. it's just september 21 that president trump issued his executive order that was monumental. >> shepard: so you're saying tom bossert is not telling the truth there. >> yeah, we have a lot we can do. >> shepard: why would one of

president trump's men come to the podium and say to us we've don everything we can do when you say it's 100% obvious that that is not true? >> i don't know. i'm not in bossert's head. i'm concerned that right now it's much easier to say let's go to war than it is to impose sanctions on china. we have yet to go after the chinese banks and companies that have been supplying all of these resources to north korea. that is a concern. there's a lot that we can do. i believe we have a moral obligation to use all of the elements of our national power before we think of striking north korea. >> shepard: it's been said that the chinese prefer north korean nuke to u.s. troops. whether that is true or not, i don't really know. china has clearly not done all they can to help solve this problem. >> no, it hasn't. the chinese banks have been laundering money for the north koreans, and not just the small ones. the large banks like bank of china that was named in a u.n.

report last year. >> shepard: so that's a problem? the money that fuels this. >> and also the chinese entities that have been supplying components for north korea's ballistic missile program. >> shepard: so why isn't anybody saying china, knock it off? >> they should be. clearly we have a way of stopping north korea short of the use of force. we're not really doing what we can do do that. >> shepard: that doesn't make any sense? why wouldn't we be doing all we can to stop north korea? >> i don't know. i'm worried that you hear a lot of war talk on not only the part of the president, senior administration officials, mcmaster, nikki haley, the u.n. ambassador. i have to be worried that they're thinking of that. i hope to god we're not. there's so much that we can do. clearly we're at a point where this is dangerous for not only us but for people in the region.

>> shepard: if you had bossert's ear, what would you tell them? >> to call bank of china out and tell beijing that we're willing to suffer pain in order to protect ourselves. we have not been willing to do that. the chinese say the americans are not serious despite what they say. they're not doing anything to impose a cost on them. that's what we need to do, first thing. >> shepard: so when the government says we've done all we can do, remember, there's other views. the news continues after this.

>> shepard: on this day in 1986, a man that parachuted on the field in the world series got his punishment. michael sergio was fined $500 and sentenced to community

service. two hours later, he landed on the old field at' shea stadium with the mets go banner. the mets went on to win the series. later sergio got six months in prison for refusing to tell the name of the pay lot as a sky diver paid the price 31 years ago today. the word was that he had obstructed views even from the field. come on! they're talking in washington. you can imagine that. on the senate floor they're debating the tax bill. they'll debate a couple hours. that's what you have to do. after they finish debating, the word is, i'm told, that even without senator mccain, they'll pass this thing and it will be ready for the president's signature. are there a few things that could come along? there are. all and all, it's close.

as for the dow, as is so often the case, you buy on the rumor and you sell on the news. today it's just flat. like yeah, we knew. wall street. have a great day. here's cavuto. >> it offers tax relief that my constituents are longing for. >> is this bill about helping people who are living paycheck to paycheck? hell no. >> hell yes, they're going to be helped by this bill. >> that's the stick-it to the middle class. >> the motion to reconsider is laid upon the table. >> neil: well yes, cleared the house of representatives and now to the senate. i'm neil cavuto. you're watching "your world." a historic world at that. a generational shift and the direction of taxes the likes of which we haven