he's best known for coverage of the september 11th attacks at cnn from the roof of the network's manhattan offices. on a day he wasn't even supposed to be on air. his long-time tv career included anchoring abc's world news tonight. his family did not disclose a calls of death. and that is the story of tuesday, december 31st. we wish you all a very, very happy new year. 2025 will be an eventful one. president-elect trump will assume office on january 20th, and indeed, the world looks like it will change as a result of the u.s. election. and a new person in the oval office. we hope you all have a wonderful new year. we thank you for being with us this new year's eve. your world starts right now.

>> fox on top of wall street closing out 2024 with major gains, but hours away from the ball drop and the dow closing down today. part of a slide hoping it's not a trend. also, looking at the threat of a major tax increase on the way of congress fails of act. welcome in, this is "your world". as we look live at time square, courtesy of earth cam, we're hours away from new york city. already throwing the confetti. kevin o'leary on the tax hike warning that we have. let's begin with madison on this. madison, how's this shake out? >> so stocks may have slipped on the final days of 2024, but it was a strong year for the markets overall tment dow closing out 2024 more than 10%

higher the s&p 500 up more than 20% and seeing the strongest two-year performance since 1998. in a tech heavy nasdaq that saw the most gains up 30% for the year. chip maker leading the charge. the ai boom sent the stock surging more than 170% this year surpassing $3 trillion in market cap. tesla up over 60% this year. the electric vehicle maker was on a rocky road at the beginning of 2024, but trump's election victory helped drive this stock to new heights given ceo elon musk's close relationship with president trump. the crypto currency surged more than 120% since the start of the year. and hit $110,000 for the first time earlier this month. trump visited a bitcoin bar in

downtown new york while he feels on the campaign trail and his incoming administration is expected to usher in crypto friendsly policies, so we could see more there. but with the tax cut from trump's first term set to expire in of 2025, republicans are warning americans could be facing a huge tax hike. 22% on average if they're not extended. house ways and means committee chair saying in a statement, "for the past four years americans have watched high prices eat away at their paycheques and financial well-being". a 22% tax increase would only compound that pain, particularly for lower income americans living paycheque to paycheque. but democrats largely disagree. senate president patty murray writing on x saying, "republicans want to extend the trump tax cuts that gave handouts to billionaires and mega corporations while forcing the middle class to foot the bill. but it's the start of the new

year and a new congress, so we'll have to see what they do. edward? >> yeah, we'll have to see what they do. thanks, madison. let's look at how bad it would be if they did not extend those tax cuts. the famed shark tank investor kevin o'leary joining me now. we've seen shuffling and wavering on if the house speaker would even continue in that role. how concerned are you that congress will fail to act to extend these tax cuts? >> i'm not concerned. 22% tax increase would really hurt the economy in terms of growth and capital formation. tax hikes don't happen in a vacuum. economies compete with each other all around the world in the g20. when you raise taxes, you chase out capital. it looks for the path of least resistance. it has no nationality. people invest in places where taxes, they don't have to be the lowest, but you want to be in a competitive space. and by raising 22% all at once, you calls what i would call a

minor heart attack and all of a sudden you find companies moving back to ireland and all of the stuff you saw them contorting themselves to do. the thing to think about on taxes is you want to reduce debt he, you want to increase tax revenues, you have to encourage growth. the way you encourage growth is reduce taxes. it sounds counter intuitive, but it's worked decade after decade. even for democrats in the past. >> and, kevin, on that point, what would be the effect on the economy for taxpayers and not just getting the taxes extended but also the other tax cuts, like no tax on tips, no tax on overtime, no tax on social security? >> for lack of a better word, most of that is really low hanging fruit, but not that impactful. really what you want, it's great politically to say no tax on timms, but in terms of what that means to the american economy, it's a nothing burger. it doesn't matter. but what really, really matters

is to make sure that capital creation, people bring their money to america for a reason. whereas large economies, right, competitive taxes, lower regulations. and we just keep sweeping the world as people come here to invest. we never want to change that. that's what i worry about. all the rest of the stuff is small potatoes. social security, i've got it. a means test. we'll look at that through this whole doj thing. but capital formation, making sure -- that's all about taxes. we could say to everybody, bring your money here. invest it here. create jobs here. why? we're the number one economy in the world. we're a free society. and we're not china. >> so in 30 seconds i want to ask you, do you think that the tax cuts will be the key to the economic success in 2025 for main street or is it the drop in energy prices and gas prices? >> both. you have to have energy and lots of it at low costs to maintain

growth in any economy. energy security is a very big deal. you never want to relyle on another country for energy. look at what happened to germany. that's number one. number two, we don't need to, you know, drop to 15%. i love that idea. trump may try to do that if it invested capital in the united states. just keeping it where it is right now is going to work. it alright powering this incredible economy. that's gone through a pandemic and everything else. don't mess with anything. >> i want to get this in here. i want to change gears to tik tok. what do you think the chances are it takes over in 2025 and are you there position with the investment money to buy it? >> yes, yes, yes he. here's what i think is going to happen. the hear something on january 10th. the company, which is in a dreamland hoping somehow trump would save them or anybody else would, is going to get a shock when they hear back from the justices of the supreme court, sorry, this is not about free speech. it's about chinese spy ware.

then they'll have to engage. and which ever syndicate has the very best letter of intent, they're going to go to biden and say, give us a 930 day extension, which you can do as president until midnight on the 19th and give us a chance to make a deal with bike dance, the chinese entity that's introduced spy ware. then the chinese supreme leader will get to choose. do i shut down all my american investors and tell the whole world never invest in chinese companies? i don't think he'll do that. he'll sail okay, let's sell to an american entity and that's gonna be me. >> kevin o'leary, we'll see if it happens in 2025. there's your prediction. thank you. we'll have to leave it there. so where does most the most photographed trader see stocks heading in the new year? look at that. we happen to have him to ask. as you look at the picture on the side of your screen let's bring in that famed trader. today closed the books on 2024. the third day down for stocks in a row. given it's a very light trading

day. secretary just profit taking though, or because of the huge gains we've seen in the dow s&p nasdaq this year? >> 100%. look, we have to look at the percentages of this year. we've had 212 trading days this year. 58 of those were record closes across absolutely every industry. so we have three sell offs after hitting record highs over the last couple of weeks. it nothing more than profit taking. >> so is it okay to look at -- well, it is okay to look at your 401k today, but for the year, the dow finished up about 12%. the s&p 500 up about 24% in 2024. the nasdaq up about 29%. how do you see this ending in 2025? >> you know, it's hard for me to predict that. think about how significant these rallies were. this was not an easy year. we had so much going on between interest rates and inflation. obviously two major wars going on around the world. you know, involving oil too. a commodity that affects markets. we obviously had a lot of the

polarity around the election, and we came through it trading at record highs across the board. to predict -- look, i love what the gentleman said before me. you know, everybody's sort of fearful that mr. trump is going to throw a wrench into this incredible market that he's been left, that's been so strong with good fundamentals. i don't think he's going to do that either. is he he going to go up against some other nations who he wants to step up to pay their side of the bill or with china as far as tariffs go? perhaps. that's how he plays hardball. but i don't think he's going to dismantle what -- he's been handed an extraordinary market that we've never seen anything like it over the years. >> the s&p 500 finished up about 24% for 2024. the best back-to-back per cent gains in about 25 years. however, history offers a warning here. the last time we saw the type of gains back-to-back was 1997, 1998 right before the dot com bubble burst. that led to three years of

double digit declines. are we in that same spot right now? >> you know, i think we need to throw out all of those kind of historic predictions because i think in a post covid world, all the terminology we've used, all these historic predictions, they don't have any bearing any longer. in a market where we could be -- actually by definition in a bear market at 11 in the morning and a bull market at 3 in the afternoon with these thousand point swings, with the kind of market we've seen, i don't think you can use that kind of historic framework to make decisions like that. i think we need to look at this year all on its own after a great 2023. 2024 has been extraordinary. and absolutely every respect. we've had seven pull backs, sell offs, consolidations in 2024 and every one of them has been rebuffed by a major bullish rally. there was one in april. legitimate. one in july a small one.

we had one august 5th, which was part of that japanese pull back. we had one in september, one in october, one in november. each one of those was nothing more than an extraordinary buying opportunity for the market. >> right. peter, i can't compete with the glasses. it looks like you're ready. did you get your photo he sfl. >> you asked for props, i gave you props. >> did you get your photo taken? >> of course i did. >> there it is. good. happy numb year to you, peter tugman, the famed trader. >> always a pleasure. >> your light are on fire. i appreciate it. thanks. so the top republican in the house now charged with getting trump's tax cuts through, blasting the senate gop's as reckless. we'll ask the ways and means committee republican if she agrees coming up. but first, we have the latest forecast for your new year's eve celebration across the nation. and we're live in time square where the count down is on and police are on guard. alexis mcadams with a preview of her story, alexis.

>> that's right. just take a look here. i don't have to say much. you can just see it. these people have been waiting for, like, six hours and counting. stimmore time to go until midnight. we'll be live from time square coming up next. - it's apparent. not me. - yeah. coming up next. nice going lou! nothing like a little confidence boost to help ease you back in to the dating scene. of course, that also includes having a smile you feel good about. fortunately, aspen dental specializes in dentures and implants made just for you, with affordable options and flexible ways to pay, and now, they■re 0 dollars down plus 0% interest, if paid in full in 18 months. helping our patients put their best smile forward. it's one more way aspen dental is in your corner.

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>> and you're looking live at new york city's time square courtesy of earth cam. where folks will be packing in like sardines to watch that iconic ball drop. they'll also be dealing with another kind of drop. haley meyer has that in the forecast. >> well you know what it was actually beautiful for new york city today. i woke up thinking you can't get a better day to finish off 2024. however, we have rain and the chance for thunderstorms specifically for manhattan around 10, 11, even midnight. so while we have of a lot of smiling faces waiting in that line to get into time square, i don't know if they'll be smiling by the time we welcome in the new year. right now though calm, winds blowing off of the atlantic here. i-95 mainly clear. but weave had severe thunderstorm warnings pop up, specifically near pittsburgh. that's not too far off. we'll watch things take a turn in the next couple of hours. by 8 p.m. we have light moderate showers, but they'll only get

even heavier. and we have enough energy in the atmosphere to support severe thunderstorm warnings in the form of pea sized hail and lightning and thunder as well. so when you have hundreds of thousands of people in a crowd and that lightning threat there are some concerns can. earlier on fox weather we spoke with somebody who helped put on the event and they said they're prepared. they'll make sure everybody is safe. no big safety concerns, but not exactly the way you'd want to ring in the new year. specifically in manhattan. so 8 p.m. through 1 a.m. we're talking rain. if you were to ask me, i'd want snow to welcome in the new year, but into january, we'll have multiple bursts of arctic air and that's going to be freezing out millions of people, hundreds of millions on the east coast of the united states. the northwest is the other area you'll be contending with snow and rain as well lt seattle rainy weather to the emerald city. but everywhere else in the

united states this is actually a pretty perfect way to finish out 2024. back to you. >> haley meyer, thanks. you could not pay me to stand for that long in time square. my tv has a great view from my couch. fox weather is your storm weather headquarters, watching the latest forecast that could affect your travel plans. stream livewetter news anytime on any device. find out how as fox weather.tv. as folks prepare to watch that time square ball come down, the nypd has its guard up. alexis mcadams is on the grounds where police are operating at a heightened alert. alexis. >> i am getting paid to be here, so i'm getting paid to be in time square. but check it out, edward. we're talking about thousands of people. you guys have been here for a while. you're from kentucky. how long have you been in line? >> >> too long. >> we've been here since, like, 9:30 in the morning. >> what this, you know, the situation where once you get in you can't get out. how do you feel about that? >> it's been tricky today, but

we've figured it out and i think we have it, pretty good. >> you've figured it out. out here you can see it just goes for all over the place in time square. more than 1 million people expected here in new york city according to city officials. they're used to dealing with big krouldz, but security is also top of mind. take a look here. this is what we've been talking about as we show thank you crowd as well. so the city has said that they're going to add more security measure unless place. they're going to mix undercover into the ground because they want to make sure they have the best security plan to a t. bomb-sniffing dogs we're talking about. drone units will be patrolling and state agencies will also monitor the airports, the bridges, the tunnels and also mass transit. lieps have been forming since early this morning as you will heard. and people don't really care that they have to wait. that's really interesting. they get excited, they're ready to be here. they know it going to rain and people want to be here. they also didn't just come from new york city. i just had to walk over 5 minute. they came from turkey. you wanted to come here today to

be a part of this on new year's eve. what do you think so far and what do you think of the lines? >> it amazing here. we love new york. it our first time. and it amazing. so much to explore, so much to see. yeah, it will be a great party. >> a special place to be for new year's. how long have you been planning this? >> yeah, we planned this -- we wanted it for 20 years to go. >> and now you're here. >> it was a present for my wife. >> a great present. thank you very much. he came all the way from france too. so we have people from all over the place. we'll essential it back to you in the studio. you didn't come down here, edward, but we'll save a spot. >> yeah, don't. say bonjour to him. as long as they're spending their money, right? that's what new york needs. alexis mcadams in time square. thank you. a retired nypd expector paul moreau knows a thing or two

about protection. thank you for being here first of all on new year's eve. i hate to mix politics with new year's eve, but the open border policies of the last four years gives police in new york pause about how to protect this year's celebration, right? >> well, it certainly does. especially when you consider that there's recent reporting that they've established a certain level of -- certain presence. i don't want to say control, but a certain presence in and around time square. relative to some of the crime that we've seen there. now, fortunately of a lot of that is property crime, but that's something that you do want to be cognisant of if you're out there today. it a prime event. things like pickpocketing. you want to be cognisant of that. if you're on the subway stick together. don't be looking at your phone. stay alert when the trains are pulling in. those are things that the police concern can themselves with every year. i don't really think this year's event is going to be that different relevant to any of the other criminal gangs. they've been doing this a long

time. they know how to run this event. >> we have to stress there's no specific threat. still, the department of homeland security in a memo to the nypd said an ongoing political geopolitical conflict may contribute to mobilizing a variety of extremists and malicious actors against large gatherings. how hard is it guarding time square tonight? >> well, again, this is something that the police have been doing for a long time. so your best sort of tactic here is just the uniformed presence of so many officers. as you can see on the screen there, they have the dogs out. they'll have all the specialized units out. you'll have aviation up. there's also a lot of things you won't see that the police department is doing behind the scenes. and they'll all -- all of that goes into a package that's revamped every year relative to any threats. but as you've heard, there are no specific threat this year, and a statement like that from homeland, while important, let's recognize it's very broad. things overseas may occur here

is essentially what that says. well, you know, realistically, that's not a very pointed warning. of course that's the case. realistically that warning comes out every year. we do have to be aware of the fact that post 7 october, the tension level has heightened in parts of the world. they're aware of that and i'm sure they're taking measures. >> we're so focussed on time square, but there's other big cities that have gatherings around and celebrations around the country. is there anything different that law enforcement is doing this year that they did not do in the past? well, i think maybe the tda presence you alluded to because they can be centred in and around time square, i think that they're likely keeping an eye on them. they're known to congregate, including the migrant shelters. and centres. they'll be liaisoning with people that work there because they're aware of the fact that those folks are out there and

this could be a target for them, primarily as i said property crimes and things like that. i think police departments around the country will be doing that. but let's recognize all that is happening at a time when police recruitment and retention is down. so while the nypd has a lot of resources to throw at this, every cop works this detail. i did it in various capacities for 26 years. you know, other cities don't really have that luxury. so i just hope they're prepared and they know what's coming at them. >> thank you very much for your service as an nypd officer. appreciate it. >> happy new year. >> happy new year. to white plains, georgia where funeral preparations are underway after the passing of president jimmy carter. his pastor spending a lot of time with him over the past years and in the final days. he's here to share his story of faith, next. my name is dawn. faith, next. i live in central texas. i'm a military spouse and a certified dog trainer. i started noticing there was this wall up

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>> donald trump set to ring in

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♪ we can't do this without you. donate today. >> new details are being shared about president jimmy carter's funeral services set to begin this saturday in georgia. we'll speak to his poster in a moment. first to plains, georgia with more details. >> reporter: hi, edward. preparations are underway in the former president's hometown. you know, in many ways plains, georgia is your typical farming community. friendly, hard working and very small. but for nearly half a century since jimmy carter's election in 1976, this tiny town has welcomed the world. a dual role that reflects the former president himself. >> i think the duality of the man, you know, being a simple peanut farmer type plains, georgia, but also a brilliant

nuclear physicist by trade, i think that duality will keep people intrigued with the character and the person for decades and decades and decades. >> reporter: plains features prominently in mr. carter's funeral plans beginning with a hometown procession january 4th before his body is brought to atlanta to lie in repose at the presidential carter centre for three days. after lying in state in washington in a ceremony at the washington national cathedral, mr. carter's body will return to plains on january 9th for a private burial outside his long-time home. even though the former president is no longer with us, former staffers remain optimistic his legacy of humanitarian work will continue. >> there are of a lot of people who have been part of his efforts that are much younger. we've had over 4,000 interns come through the carter centre, for instance. and every one of those comes away with a real sense of purpose and desire to do for

others. >> reporter: and here in plains, residents continue to refer to the former president as mr. jimmy. reflecting the close ties jimmy carter maintained with this community for all 1030 years of his life. edward. >> jonathan, thank you for that. so president carter's faith was a major part of his life. his personal pastor tony lawton with visit him every week at his home and says the president would always ask him four questions. pastor tony lawton is with me now. what are those four questions president carter would ask you? >> edward, thank you for having me here today. those four questions he'd always ask me, no matter how long i'd been gone, the moment i sit down with him and ms. roseline would be where have you been, what have you done, who have you helped and how can i help you help them? and it was him looking at ways of being able to serve. sometimes he would ask me for

the phone numbers of members of the church who had been sick or shut in. and him and ms. roseline would pick up the phone and call them and tell them how much they're praying for them. you don't see that in of a lot of leaders we have around the nation. >> you don't. and is this why former president carter's legacy will be remembered almost more for what he did after being president because of what was in his heart? >> oh, absolutely. i mean, he was an officer in the navy. and one of the biggest things, you know, not to self, but to country was one of the mottos they have in the navy. and he's always been that way. i believe, without a doubt, that his whole heart was to serve no matter what. you oftentimes when we see servant leaders who are elected to serve, whether it's on a local level, state level or on a federal level, once they're no longer in office, they stop serving and it becomes about them. finding other ways to take care of themselves and be on the front.

but president carter, his whole thing was always about still serving. i mean, how do you go from getting kicked out of the white house, public housing, and then start building housing for people around the world. it's all because he still wanted to serve. >> what do you think the former president's message would be to americans today? >> i think his message today would be that we have to make sure that we hold on to our faith. we hold on to our hope. and let those two things be the guardrail for our government. the guardrail for our laws. knowing that we can still have our constitution, we can still have our laws, but we've gotta have grace and redemption and forgiveness. we've gotta look at ways of doing things for those, the least of those. helping people who are struggling. we have to understand that in the rural communities, in the inner city community, they too sing america. they we have to look at ways at being able to bring everybody to the table and final ways that we're not fighting in political

arenas, but we're working together to have cooperation and compassion and concern about our fellow man. as well as around the world. >> do you believe it was that faith that provided that glue for him, to be so grounded? >> oh, absolutely. i mean, when he put his left hand on the bible and raised his right hand to make a cough could nant with his god that he would serve our great nation, he did the same thing when he was a state senator in georgia. he did the same thing when he was a governor. and he did the same thing when he was sworn in as an officer in the navy. once he took his left hand off, that meant something to him. he did not stop serving of. and just because the nation and the second term did not give him a second turn, he did not stop serving. he kept serving, and it was all about his heart. i remember when he fell and one sunday he was supposed to come in, teach sunday school and then go to tennessee to build houses. but he fell and the secret

service rushed him to the hospital there in plains. and they asked me to go into the room and tell him he shouldn't go to tennessee to build housing. let the people that are already going to be there do it. and president carter looked at me and he said, listen, tony, hospitals are just like prisons. they're easy to get into, but they're hard to get out. all i need you to do is help me get out of here so i can go and build homes in tennessee for folks. he got out of that hospital, had a band nl on his eye. he put a cap on. he had a black eye. the very next day he was taking off on a plane to go billion houses for rural community and people in tennessee. >> pastor, you're going to carry his message on. i appreciate it. and happy new year, sir. >> thank you, edward. to god be the glory, my friend. >> yeah, we'll have more after this. customize and save with liberty mutual. this. customize and sa— (balloon doug pops & deflates) and then i wake up.

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sfl ringing in the new year at mar-a-lago but not before giving senate republicans a new year's resolution. investigating from washington on how republicans will follow through. >> hey, edward. good to be with you. president-elect trump is concerned democrats are going to deploy some procedural maneuvering to try to slow down or trip up the confirmation questions of his cabinet nominees. he wrote in part on truth social, "they'll try all sorts of tricks starting very soon. republicans must not allow them to do that. we have a country to run and many big problems to solve, mostly created by democrats. republicans, be smart and tough". in the 119th congress republicans will hold a majority in the senate. so democrats are not going to have the opportunity to stop the nominations, but what they could do is deploy some slowing down tactics. for example, a member of either party could place a hold on the nominee, or of course there's always the filibuster. that would keep a position

vacant and run down the clock so to speak. tonight president-elect trump is scheduled to host his annual new year's eve celebration at mar-a-lago. it's very, very fancy. i'm sure some of the people you just saw there will be there. law enforcement expects at least 300 people to attend. security still remains a major focus there, according to local news reports. and the ringing in of 2025 will be followed by some urgency within the trump white house, with a series of day one promises to make good on. closing the borderer, beginning the largest mass deportation ever as promised, and on the topic of imgraying, this is interesting. some democrats within congress have said that they're willing to work with trump on that. another note, democratic d.c. mayor says she had a great meeting with president-elect trump. both agree on one thing mainly. that is workers need to get back into their d.c. offices. a lot to work on ringing in the new year. >> yeah, she probably needs the businesses to come back, or at

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>> the house republicans will be facing their first big test of the new year on friday. the vote for the next house speaker, does mike johnson have the votes? new york republican congresswoman joining us. first question, does he have the votes? >> i think there's still a few undecided but hopefully it all gets figured out for friday and hopefully we get united and vote for speaker johnson. i think it's in the best interest of the country. we need he to put aside any petty differences we may have. certainly the speaker has been willing to hear ideas on how we can improve the process. he's certainly been taking suggestions on what we can do better next year so we can be more successful as a team. but i think at the end of the day we need to look at the big picture here. we need a speaker. we need to be able to certify president trump's election and we need to start on day one getting the job that the people elected us to do done, which is securing the borders, getting this economy back on track,

extending those tax cuts that have benefitted the american families and economies. that's all it's about, just getting to work. >> to that point, how would it look to the american people if the house could not get a house speaker on friday? >> i think it would be very disappointing. we've been through this before with the 15 rounds with speaker mccarthy. it didn't do us any good and certainly brought congress to a stands still. in this case we don't want to see that happen again. i really urge my colleagues that we may have some differences and let the speaker know. talk them out. i certainly shared my ideas on how i think we could run the congress a little better. he's more than willing to take constructive criticism and productive ideas and solutions and try to incorporate on how we do this. remember, this speaker came in with a democratic president, a democratic senate. we controlled one-third of the congress of the federal government. and so things were obviously much more challenging, but now

that we have a republican trifecta, we need to be united and we can get so much accomplished if we just stick together. and i think that's what the american people want. a government that is functioning, that does its job, that puts our national security and our economy first, and then we can work out those details, each legislative item that comes along. but we also need to recognize that none of us are going to get every single thing that we want in a piece of legislation. in' why when you have 220 members, 435 in the entire house, there has to be some give and take. government governing is about giving and taking. it's a negotiation. >> congresswoman, i want to ask you, you sit on the ways and means committee right now, and the chairman is calling the senate gop plan to wait on tax cuts and do the border first. he's calling it reckless. what do you think? >> yeah, i think we need to try to do everything in one reconciliation. you have border state that obviously care about the border.

i think a majority of americans do. it's impacting states all over the country can. you have energy producing states that want to see us ramp up domestic production. it will help lower prices for energy and food and goods across the country. and then you have states like new york that care about the salt deduction, providing some sort of relief for constituents. and the people of the ways and means committee, of which i'm a member, i would tell you that tax cuts can has to be part of that negotiation. why? because we leave it to the end of the year, it may fall off the table. we need to work it in with everything else currently there. because these tax cuts expire at the end of the year. what would happen? you'd see the individual tax rate across the board go up. roughly 3 to 5% per bracket. a corporate tax rate that's been so beneficial to helping stimulate this economy and create jobs. that will increase as well. the standard deduction will be cut in half. the child tax credit will be cut in of half. so critical to families.

they'll turn a minimum tax, which is so important to middle class families. that would be reinstated. we can't have that. >> it would equate to, like, a 22% tax increase on average for americans. but can the border security bill, can a tax cut bill be done in one bill, given the realizer thin majority in the house? and should it be done that way? it can be and i believe it should be because everybody kind of wants something. whether it's the border security or the energy production or the tax cuts. if we put it all together, we could satisfy a lot of members of built consensus that way. and you have to remember the senate with 53 republican votes, they need seven votes to pass that something, unless we do it with reconciliation. so you may have a tiff time getting seven democrat senators to side with us to extend trump's tax cuts. and so this is something that is important. we saw millions of americans benefit, millions of jobs created. repatriation of american business, manufacturing. we can build on that success.

and you also have president trump wanting to lower tackles for seniors. increasing that standard deduction, provide some salt relief. the only way we do that i think is if we get it in the first package. if you leave it until the end of the year you'll have a real risk of the whole thing expiring, which is detrimental to our economy and the american families we represent. >> thank you for your time on this. i appreciate it. in the great state of new york, happy new year. >> happy new year to you. >> forget the hang over tomorrow, of a lot of us have one right now. and it has nothing to do with drinking. we'll explain. plus, travel demand will be surging in the new year and so will prices. but there are some get away deals you're gonna want to stick around for.

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>> adding a new meaning to the term hangover, a lot of us are in a debt hangover right now. to jeff flock on the credit card crunch. jeff? >> edward, the numbers are staggering. it's over a trillion dollars is what collectively we all owe on our credit cards. and banks now increasingly take a hit. $46 billion banks writing down credit card debt as unrecoverable. that is a jump in the last year

of 50%. it's the highest rate in the last 14 years. delinquency rates varying. nevada has the highest of any of the states. almost 13%. florida, arkansas and texas according to folks at wallet hub also with double digit rates of delinquency on credit card debt. a lot more credit out there than there used to be. the average household has five credit cards and $10,000 in debt. pretty crazy numbers. it was not made any easier by christmas. 36% of those interviewed by the folks at lending tree say they went in to debt to pay for christmas. 60% of them are stressed over it and 42% say they flat-out regret the amount of money that they spent over christmas. what is the bottom line cost to us for piling up credit card debt? comes in the force of interest.

that would $170 billion between september of last year and september of this year. perhaps it's the example set by the federal government in terms of paying your bills on time and not piling up debt. up fortunately we personally seem to be following that poor example. edward? >> spending a lot. sky high debt not stopping americans from flying in the new year. travel demand expected to surge in 2025. bobby laurie. where can americans find the best deals right now? >> right now a lot of travel suppliers are offering really amazing deals. people are deciding to put applies on creating memories rather than material things. if you're headed to some beach resorts, you're looking at offers there that include spa credits and excursion experience credits. if you're going to mexico, there's rates as low as $430 per

person for a long weekend. >> get your pen and pad ready. if that's still a thing or just writing your notes on your phone. so we're putting up the travel deals here. we don't have time to go through them. beaches resorts, why are they giving discounts? >> people are deciding to spend their money on travel and experiences rather than material things. these chains and these resorts are trying to capitalize on that. by giving an incentive like $175 toward the spa, you'll see more people make those reservations and fill up the hotels and help create a profit. >> looking at apple vacations here. 50%. there's a concern ant going to mexico. >> you know, a lot of these resorts are in very safe heavily guarded areas. a lot of folks that go to these all-inclusive resorts stay on the property and that is

recommended. you shouldn't have a concern about going to the touristy areas in mexico. >> and flights. we'll see price increases. when do you buy the tickets? >> you buy your tickets 14 to 21 days in advance. that's when airlines look at their load factors and setting the right price. under 14 days, they know you need to go so the price goes higher. >> thanks. have a good new year, bobby. looking live at athens greece where the clock is about to strike midnight. times square where new year's will be ushered in in about seven hours from right now. you can see they are getting ready with acropolis over in greece. but we started to see the new year trickle through the time zones around the united states. i'm going to say happy new year to everybody out there. thanks for watching. "the five" is next. >> hello,