we go to senator cantwell number 2. senator cantwell, it's your amendment. ms. cantwell: i hope we have enough time to discuss this amendment because this is one of my fundamental concerns about this bill. when we started saying we were going to talk about tax reform and changing making our corporations more competitive, as somebody who represents a state with a lot of international companies, i wanted to talk about that. i wanted to talk about the innovation economy of the future. and what we could do to stir and innovate more given our tax code. but as we discussed this and we changed our policies from not being a revenue neutral bill and certainly not focusing on closing some of the loopholes within corporations, thee the attention was turned to getting revenue to pay for the corporate tax break from our state and local deductions. now why is that most concern to me? because i feel like so much of the debate is focused on these large, east coast states. the state of washington, like several other on this panel, nevada, and florida, and south dakota, and wyomi

i would like to call up cantwell number six, which is -- >> cantwell 6? >> yes. >> so the gulf of mexico energy security act of 2006 directed federal revenues for offshore drilling in the gulf of mexico to four states to incentivize and promote offshore drilling. under current law, they get 100% of gas revenues for the first three nautical miles from their shores. the oil and gas revenues beyond three nautical miles belong to the people of the united states as a whole. in my opinion, go masa was a terrible idea for the nation as a whole. i know the trump administration agrees and has asked for it to be changed. as a whole, 46 states don't benefit. we don't need drilling in the arctic wildlife to meet our reconciliation instructions. we can meet those instructions by raising $3 billion by eliminating these go mesa give-aways of federal revenue and giving alaska over $1 billion, which would help in not only protecting the arctic wildlife refuge, but giving revenue and impact to the state of alaska. i look at this issue and our challenges moving forward. whe

senator cantwell. cantwell: thank you, madam chair. and thanks for recognizing andrea an our team. she and i have worked together for a long time. first on my staff and then when she joined the energy committee and then coming back to take this post as i take over as ranking member. so angela, i just want you to remember the saying, third time is a charm. i know the pacific northwest is a great lure, but i do appreciate your help. i think that statement about her being here today is remembrance of what we really should be doing here. it's pretty amazing that we all work together to pass an energy bill 85-12 out of the united states senate with hundreds of priorities with members on both sides of the aisle. both on the next phases of energy, on land, on a whole variety of things. and yet we have not gotten that over the hurdle. instead today we're spending our time and energy on this, on something that is a divisive issue, that there is not full agreement on. and it's only through throwing out regular order that this can even be considered. the energy and natural resources committee

cantwell. mr. wyden. mr. sanders. misstep now. >> . mr. cantwell. mr. mansion. mr. heinrich. mr. king. in this vote the amendment is not agreed too. >> madam chair, i would like to call up number 22 and asked for the yeas in a. >> they have been called. the clerk will call the roll. mr. sanders. mr. franken. mr. heinrich. [inaudible] by this vote the amendment is not agreed too. >> i would like to call up heinrich number 64. >> is that number 34? >> yes. the clerk will call the roll. [roll call] [roll call] [roll call] [roll call] the vote, the amendment is not agreed too. a >> them amendment fails. manyhe other members wish to call up. >> i would like to call up franken number 32. the clerk will call the roll. [rolll call] [roll call] [roll call] [roll call] [roll call] [roll call] [roll call] [roll call] the no's or 14 -- the amendment fails. >> cantwell number six. clerk will call the roll. [roll call] [roll call] [roll call] [roll call] by this vote, the amendment is not agreed too. >> i would like to call up amendment number 49. >> the clerk will call the roll. number 49. [r

senator cantwell is called up amendment number three, cantwell amendment number three. >> i asked for the yeas in the nays. >> yeas in the nays and the no's were. the clerk will call the roll. [roll call] ball. [roll call] [roll call] the nays are 13 in the yeas are 10. the agreement is not agreed to. >> madam chairman by two call of cortez masto and ask for the yeas and the nays. >> the yeas in the nays have been called for. we scope the role. [roll call] [roll call] [roll call] [roll call] [roll call] by this vote the nays are 13 and the yeas are 10. the amendment does not agreed to. >> the amendments not agreed to pay that by two heinrich numbers 64. >> madam chairman as for the yeas and the nays. >> the clerk will call the roll. [roll call] [roll call] [roll call] [roll call] but this vote this yeas or 129 nays are 11. the agreement -- the amendment is not agreed to. >> the amendment failed. and the other members? >> i would like to call up franken number 32. >> and as for the yeas and the nays? the clerk will call the roll. [roll call] [roll call] [roll call] [roll call] >> by th

senator cantwell: thank you.r those of us who have not had the pleasure of sitting on the committee, explain to me as a democrat, what role did you have in this? the senate seems to be running as a republican operation. senator cantwell: it is unfortunate. if you think about the 86 tax bill and you look at the history it went through, it was a very long process in which a proposal was looked at and reviewed i many people, adjustments made. there was a lot of by and, i was your showto some of in which people were saying even if they did get something passed, it would get repealed. what you want out of tax policy is predictability and this legislation, they are rushing through. i think it will not lead to that predictability. shery: how concerned are the democrats right now that tax reform will happen this year without you? what is the mood among your colleagues and yourself? senator cantwell: right now, i am more worried about very big issues for my state. one, obviously, we are very -- are a very different state

nays.ayes, 14 chairman: senator cantwell number two. youror cantwell, it's amendment. you, mr.antwell: thank chairman. i hope we can have enough time to discuss this amendment because this is one of my fundamental concerns about this bill. you know, when we started saying we will talk about tax reform, and changing, making our corporations more competitive, as somebody that represents a state with a lot of international companies, i wanted to talk about that and the innovative economy of the future, and what we could do to innovate more, given our tax code. but as we discussed this and changed our policies from not being a revenue neutral bill, and certainly not focusing on closing some of the loopholes within corporations, the attention was turned to getting revenue to pay for the corporate tax berareak from our state and local the duction. why is that of most concern to me? i feel like the bill is focused on these large, east coast states. well, the state of washington, like many others on this panel, we don't have an income tax. if you look at the states ranked in t

senator cantwell number 9 if you want to go forward. >> thank you, mr. chairman. to clarify for my colleagues, this is not the previous amendment we were talking about. we'll come back to that later. i call up my modify cage to cantwell number 9, committee amendment 188. it has been offset. mr. chairman, this amendment fixes another unintended consequence we just heard about in the interactions between the low income housing tax credit and the marks international provision. the marks international provision erosion provisions, the base erosion and anti-abuse tax provision appears to inadvertently prevent banks with foreign parents or domestic banks with substantial foreign operations from claiming the benefit of any tax credit other than r&d tax credit. this would limb the low income housing tax credit by limiting the poolling of investors and major private nevadaors in affordable housing and this country would no longer be investing in those communities. now i understand the original purpose of the provision but i think this is an unintended consequence. we don't

his question is for senator cantwell. >> senator cantwell, i believe there are opportunities to make compromises in reforming our tax code from people from both sides. why has there been no effort to work on a compromised bill that can gain support from both republicans and democrats? >> i think because people -- thank you for the question. i think because people are in a hurry. and i wish they wouldn't hurry on this. if you look at how we got to other proposals, people always talk about the 86 act. it took a long time. it gave confidence that it was something that was going to stick around. ic the fact people are trying to hurry to get this done, i would say to our colleagues, don't think that you have to get this done right now. why? are cooperations suffering? i think they're making good money. do i want to get this issue about how we deal with a global economy and how we're going to continue to innovate. even this international tax code provision i have big companies saying to me i don't understand what it means and how it's going to affect us. if we're going to change something

go to cantwell, number one. senator: i thank my colleagues for recognizing of the low-income housing tax credit. we need to do something to address the housing crisis by increasing the amount of affordable housing credits. as my colleagues are talking about this specific mark, my understanding is that we have two problems. one, that this amendment tries to address, albeit, it increases the tax credit. ut the pressing issue ensuring private dollars will insure private development at the level they do today, investors who buy the credit under this mark, the modifying discount rate basically has a perverse rate on the value to investors, is that right? 'm asking the counsel. under the current draft of the bill because of the corporate rate for internationals is going to 20%, investors buying the credit modifying discount rate is perversing the value to investors and complicating their investment. >> they have less need for the credits. the changes -- in the bill under consideration reduced the need that investors w

senator cantwell. >> thank you mr. chairman. we had a discussion on this yesterday but i'm offering cantwell amendment number four committee number 183. the chairman's mark eliminates foreign-based company oil related income of the quarter guard -- category of company incomes of this provision would cost american taxpayers $3.9 billion over 10 years. this provision is a provision in existing law i should say. in existing law this language is in place for 25 years in order to combat operation. the committee reports when it's provision was stated quote because of the complex structures involved oil income is particularly suited to tax haven operations through the net result has been patrolling companies that paid little or no u.s. tax in their foreign subsidiary operations. so as we go forward and repeal this provision i wonder what and where there will be foreign oil company profits that will never be taxed by any country, here or abroad. a brand-new untested regime and the international taxation code. under this regime the profi

wyden. >> aye. >> miss stabenow. >> aye by proxy. >> miss cantwell. >> aye. >> mr. nelson. >> aye. >> mr. menendez. >> aye by proxy. >> mr. carper. >> aye. >> mr. carden. >> aye. >> mr. brown. >> aye by proxy. >> mr. bennett. >> aye. >> mr. casey. >> aye. >> mr. warner. >> aye. >> mrs. mccaskill. >> aye by proxy. >> mr. chairman. >> no. >> the chairman votes no. ms. stabenow. >> aye. >> clerk will report. >> mr. chairman, the final tally is 12 ayes, 14 nays. >> the amendment is defeated. >> carper number two. >> should we go to carper number two? >> why not? >> sure. it's okay. >> thanks, mr. chairman. this would be amendment number 218. and carper amendment number 2. i wanted to express my thanks to senators bennett and wyden for co sponsoring this particular amendment. i sometimes joke with mark warner and others in the room who are like me, recovering governors. we once said if we had a dollar for every time we started a sentence that was, "when i was governor," we would have enough money to almost balance the budget. >> i got that money. >> but when -- it was my

. >> thank you, senator cantwell. we have several panels this morning. i appreciate not only our delegation being here, but all the alaskans and the visitors that have joined us this morning. very distinguished panel, we will be led off by our colleague here, senator sullivan. he will be followed by the congressman for all alaska, congressman young, who has represented us in the house of representatives for 45 years? 45 years, going on 46. and the panel will be rounded out by our governor, governor walker has been in office now for three years, is a lifelong resident and has great leadership and i appreciate you being here as well governor. >> i'm an independent senator. >> that is true. he is an independent. we don't talk about political affiliations here of anybody. that is noted for the record. senator sullivan, if you would like to lead off with the welcome, please. >> thank you for the opportunity to say a few words on this very important issue for the country. many in this room are protectors of alaska's environment. with all due respect, there are

we go to senator cantwell. >> thank you, madam chair. so mr.wray most, you are in charge of the contract with whitefish? >> i certainly authorized its signature. in charge was the procurement people of prep with our legal advisors. many of them of course, younger number that dire conditions that the people was in and some of the people arrived to the office weeks after, so we will need to do headcount but certainly our emergency procurement personnel assigned to the emergency management office were in charge of that contract. >> so emergency procurement people, okay. so at september 26 the president authorized 100% federal cost-sharing for emergency work in puerto rico. prepa they been granted 209 for expedited funding to cover purchase of fuel, covered 100% by% by the federal government. so when we hear about these huge markups and these huge prices, juxtaposed to mutual aid, mutual aid is about recovery at caustic it is that people coming in to help you. that's called mutual aid. they commit coming to help yout caustic that's why you signed a

senator cantwell. >> mr. alexander, thank i for your service to our country and thank you for articulating what i think so many people know or a lot of people know that our great outdoors provides great relief. one of the reasons why our veterans have been out spoken again this administration's wrong headed policies, whether it is tacking on park fees or trying to run overin tick witnesses act, but i so -- i appreciate our veterans being so supportive of making sure we have a place to fish and hunt and rec re rate. so thank you for and i just would point out for the record, i this think there were 640 oil spills since 1995, including 13 spills of over 10,000 gallons, since 2009 as a result of those operations including a 2000 british petrol um ordered to pay penalties because it illegally disposed of taxic chemicals and in 2011 bp exploration was ordered to pay 25 million for an estimated 213,000 gallons of crude oil from the pipelines on to the north slope. so we know what happened. we know what happens. the

cantwell: in a bipartisan way. we do not know what this means for low income housing. the impact on affordable housing. a lot of universities are coming through. they want to know what this means for them. we have not had a single hearing. not one on these proposals. this is legislative malpractice. contrasted to 1987. 27 hearings, starting with the treasury secretary. on top of all of that we have got a proposal to repeal a central provision of the affordable care act. the committee had not held a single hearing this congress on the aca or health insurance coverage. think about that we went through the repeal and replace bill and now the new midnight repeal provision. we have not had a single hearing on how any of this legislation will affect middle income americans and the ability to get health coverage. how will the affordable care act provision affect the health care system? have we heard from people field?geable in the those who advocate for the patients and doctors and hospitals and insurance companies? the answer is no. we have not heard from them. the chair wil

miss cantwell, aye. mr. nelson, aye. mr. carper, aye. mr. cardin, aye. mr. brown, aye. mr. bennet, aye. mr. casey, aye. ms. mccaskill, aye. the chairman votes no. >> the amendment is defeated. next amendment. senator cardin. -- number 1 can ask consent that3 senator stevan out -- senator stabenow is a cosponsor. this would set back the corporate reductions if the secretary of treasury cannot certify that the coverage for mental health and substance abuse and health insurance coverage has not been diminished . the concern here to my colleagues is that we have the resources to deal with the opioid crisis that is affecting every community in our country. my concern is that, if you look at the underlining bill, the cbo in a joint tax committee at a $1.5 trillion addition to the national debt. my concern is that we know the casualties from the opioid crisis. we know we need to have the resources in order to deal with it. we know that there has been an abuse of opioids in every community that has led to heroin addiction. unfortunately, the use of fentanyl, which has caused signif

in front of senator cantwell. seeing the impact there, right before senator cortez mastro is a picture of some apartments. it had been blasted from one end to another. clean sweep to these apartment buildings. the blue tarps are certainly coming to be a symbol of the devastation that we see post hurricane. not just here but we've seen devastation following harvey in houston and in florida. i think you can see just how these have been impacted. not only did we see this particular scene but another area where the only access to some 200 roads had been cut off by horrible landside on the other side. we had visited with the young woman whose home was on the other side and she had not been able to visit her home since it had happened. a very touching story, one that all of us will remember for a long time. i think we recognize in puerto rico, looking at the damage from the landslide, and appreciating, in the interior rate have such montanist areas, this is still the rainy season. with the number of trees i haven't take

i am offering cantwell amendment number four. the chairman's mark eliminates the foreign based company oil related income as a source of it. this provision would cost the american taxpayers $3.9 billion over 10 years. -- or thesion provision and existing law, i hasld say, this language been in place for 25 years in order to combat tax haven type operations. the committee report from when this vision was enacted stated, "because of complex structures involved, oil income is particularly suited to have tax haven-type operations. petroleum companies have paid little or no u.s. tax, and there boring subsidiary operations in spite of their revenue." if we go forward and repeal this provision, i wonder what and where these profits will never be taxed like any country. here, or abroad. under this regime, the profits of multinational companies 100% exempt from taxes in the united states. this new provision in the market will supposedly prevent copies with highly mobile incomes such as intellectual property to shift from the cayman island

member cantwell and members of the committee. thank you for the opportunity to appear before this distinguished panel. i'm dr. rick raines at the department of oakridge national laboratory. i previously served as director of cybersecurity at analytics and followed by military and federal service career where i founded and directed the air force cyberspace technical center of excellence at the institute of technology. the department of energy's national laboratory system has a long history of providing solutions to the nation's hardest problems. our structure and operations encourage partnerships with industry and others for challenges. cybersecurity of our critical energy energinfrastructure is a national challenge. today i want to talk about the electrical grid and technology break through to harden the defenses as you're well aware our electrical grid is a vital national asset and system becoming increasingly vulnerable to cyber intrusions due in large part to connectivity with the public internet. operational risks have increa

clearly an issue of concern for all of us as senator cantwell mentioned. it's one thing to be responsive in the immediate aftermath of a hurricane. it's another thing to be engaged in something we would all call gouging of the taxpayer when you look at the terms that were agreed to. you have indicated it and the governor said this as well, that right now it's about 49% power to throughout puerto rico. we recognize that particularly in the more interior parts of the island it's going to be a long time before we see power to the island. there was an article just a couple of days ago on thursday there was a major outage in the area that apparently that white fish had been working and that you literally had went from -- and this is quoting this article -- went from 40% of power down to 18%. question to you is are we seeing -- have we gone backwards in certain areas? have we seen parts of the efforts that were rebuilt failing? the 49% that you're saying today is something that i understand is fluid. the governor has said that he wants to be 95% by the end of th

with that i yield back. >> senator cantwell. senator franken. >> thank you to the ranking member and the chair. dr. cronin, in your research looking at caribou populations, you found that they were not significantly impacted by the presence of an oil field road, is that correct? >> yes. >> thank you. for this research, did you ever receive any funding from oil companies? >> yes. >> okay. do you think receiving funding from oil companies could buy us the outcomes of your research? >> no, sir. >> did you ever consider that the same oil companies that funded your research would use your work as justification for drilling and that might have been a motivation of theirs? >> well, first of all, the data we used in probably the paper you're talking about is the 2004 paper with noelle as the senior author. we used the alaska state department fish and game data in addition to the data collected by our group. the oil industry funded studies sometimes as a requirement for permits or for stipulations for operating after the permits were gra

i want to bring in democratic senator maria cantwell. thank you for joining me this afternoon.ing moore to withdraw? >> well, i'm glad that they are taking this serious as they should. so, i hope that my colleagues will join susan collins and continue to focus on the fact that these women have come forward and that they deserve to be heard. >> what happens, though, if moore wins here? do you think republicans will allow him to be seated? >> i don't know. i don't know what they're going to do. >> go ahead. >> the choice is election in alabama and the people of alabama have to speak first. >> do you think more people will be coming forward and we have the president returning from abroad. does the president need to come out and say roy moore, step aside? >> i'll leave that up to them and their party. i know this, the people of alabama will have a chance to look at both candidates and i hope that they will give heed to the fact that the democratic candidate has done some amazing things and listened to what he has to offer to that state so they can make a decision. >> senator, the s

christopher cantwell, a self-professed white nationalist, is charged with using pepper-spray on a counter protester. he's been behind bars in virginia, since his arrest in september. also happening today-- a woman caught on camera throwing a cup of urine at a metro bus driver will be sentenced. opal brown pleaded guilty to a misdemeanor assault last month. she faces up to 180 days in jail.. a one-thousand dollar fine.. or both. members of the transit workers union will be in court for this morning's hearing. they've been demanding safer working conditions as the result of this and other driver assaults. right now-- lawmakers are calling for changes after a study finds serious security failures at the nation's airports. sources say the inspector general used administrative workers to see if they could sneak high-tech contraband through security screenings. and they did-- at an alarming rate. a source familiar with the classified report says the tsa failed to detect the contraband roughly 80-percent of the time. 2 years ago-- that failure rate topped 90-percent. several democratic leaders i

cantwell. aye. >> mr. nelson. aye. mr. carper. aye. mr. brown. aye. mr. casey. aye. chairman? no. >> chairman votes no. >> the amendment is defeated. next amendment? >> thank you, mr. chairman. i would ask scent to call card on amendment number 13 and asked -- thank you, mr. chairman. this amendment would step back the corporate rate reductions if the secretary of the treasury cannot sert fight thcertify thae for mental health substance and mental health coverage has not been diminished. the concern here to my colleagues is that we have the resources to deal with the opioid crisis that's affecting every community in our country. my concern is that if you look at the underlining bill, the cbo has scored it at and joint tax committee at 1.5 trillion addition to our national debt. my concern is we know the casualties from the opioid crisis. we know we need to have the resources in order to deal with it. we know that there's been an abuse of opioids in every community that has led to heroin addiction and unfortunately the use of fentanyl which has caused significant overdoses in a

i look forward to hearing from our witnesses. >> thank you, senator cantwell. our first panel this morning will be led off by the governor of puerto rico. the honorable ricardo nuvar ez. he will be followed by the governor of the u.s. virgin islands, the honorable kenneth mack, we welcome you. mr. bruce walker is the assistant secretary for it office of electricity, delivery and inhad aerj reliability at the u.s. department energy. i will note he as been on the job here for about a month, i believe and as soon as he was sworn in, he was sent to puerto rico or he volunteered to go to port reek oo and has been there much of the time and on the ground. so i think we'll have a great deal to share with us this morning. and we're also joined by major general donald e. jackson jr. the deputy commanding civil for it u.s. army core of engineer that has been tasked to address the grid system there. in puerto rico. so gentleman, we welcome you to the committee. observe govern governors, we certainly appreciate that you have travelled to be with us this morning and appreci

senator cantwell worked in bipartisan way on it.we don't know what this means for low income housing and the impact on affordable housing. a lot of universities are coming through. they want to know what this means for them. we have not had a single hearing, not one, on these proposals. this is legislative malpractice. contrasted to 1986, 27 hearings, starting with the treasury secretary. on top of all that, we have now a proposal to repeal a central provision of the affordable care act. committee hadn't held a single hearing, this congress, on the aca or broad question of health insurance coverage for all americans. think about that. we went through the repeal and replace bill, then graham cassidy, now the new midnight repeal provision. we haven't had a single hearing on how any of this legislation will effect middle income americans and their ability to get health coverage. how will the late night affordable care act provision effect the over all health care system. have we heard from people knowledgeable in the field, those who a

senator cantwell. >> thank you, leader. i don't know if the senate is trying to break a speed record for passing a tax bill but it's clear this legislation needs to be slowed down. the notion that we started the discussion of tax reform and our colleagues said well we should make it deficit-neutral and then they said well we should make it closing corporate loopholes because the corporations would rather have some of those loopholes closed and have an overall rate reduction. now we have before us a tax bill that doesn't do that. it basically takes two-thirds of the money out of the pockets of middle-class americans by taking away essential deductibility that helps them live more affordably in their home, deductions for education, to deductions for their sales tax for states that don't have an income tax to literally more than 300,000 people in the state of washington could pay as much as $900 more under this tax bill bill. for what? to get the corporate tax break to corporations in our state? i don't know if that's what ama

senator maria cantwell of washington will be here.on what to expect from the senate tax markup at 1:30 new york time. julie: and you can catch all of our interviews on the bloomberg. davidsoneeing laura talk about the tax debate earlier. that is tv on the bloomberg. from new york, this is bloomberg. ♪ shery: it is 1:00 in washington. 6:00 in london. 2:00 a.m. in hong kong. i'm shery ahn. david: i'm david westin. welcome to "bloomberg markets: balance of power." with a focus on the intersection of politics and the economy. shery: here are the top stories. senate majority leader mitch mcconnell says there is a net -- an overwhelming likelihood of success on the tax bill, but added a some taxpayers could get a higher tax rate. plus, we will break down what to expect from the tax bill with senate finance committee senator maria cantwell of washington. mcconnell says he believes roy accusers.oy moore's we get a live update from alabama in minutes. ♪ david: the senate starts to mark up its version of tax reform today. the house may vot

. >> and we'll wind up with senator cantwell. >> thank you. >> mr. chairman, and i think that in response to senator from colorado's comment, i think in a lot of ways our colleagues on the other side foreclosed that opportunity early on this year by sending a letter stating the conditions under which they would participate in a tax reform bill, many of which were just not feasible. so let me just come back to this question that's been kind of batted around all morning and i think with respect to federal income tax liability, the issue has been raised by senator cornyn, raised by senator heller, as well that if you have an individual with the income characteristics that was described earlier, that person would not have a federal income tax liability. and i would just ask mr. bartold, under the chairman's modified mark, the standard deduction goes from what for a single and what for a married filing jointly? >> married filing joint goes from present law today $12,700 to $24,000 head of household goes from $9,350 to $18,000. the single goes from -- i do

senator cantwell. >> thank you, mr. chairman. mr. chairman, and i think that in response to senator from colorado's comment, i think in a lot of ways our colleagues on the other side foreclose that opportunity early on this year by setting -- sending a letter stating the conditions under which they would participate in a tax reform bill, many of which were just not feasible. so let me just come back to this question that's been kind of batted around all morning, and i think with respect to federal income tax liability, the issue's been raised, raised by senator cornyn, raised by senator heller as well, that if you have an individual with the income characteristics that was described earlier, that person would not have a federal income tax liability. and i would just ask mr. barthold, under the chairman's modified mark, the standard deduction goes from what for a single and what for a married filing jointly? >> married joint goes from present law today $12,700 to $24,000 head of household goes from $9,350 to $18,000. the single goes f

senator cantwell. >> thank you. i am glad to join my colleagues today to say the republican approach to the reform tax bill is wrong-headed. it is wrongheaded on trying to make sure americans no longer have deductions and sales tax, mortgage, property tax, and a variety of things. it is also wrong to try to take way retirement savings. new america the foundation, 92% of americans are retirementg their savings. that is roughly 14 trade dollars. the economic policy institute found a median working age family had a average of only $5,000 saved for retirement. of retirement savings will add additional strain to government problems -- programs from medicare to snap. -- 401(k) plan we made remains one of the most popular for more than 50 million active users, mainly it encourages americans to save or retirement. in 2008, we build out the biggest banks while everyone else's 401 pension and retirement took a hit. people are still feeling the effects of retirement and stability while we gave the banks loans of dollars and no

senator cantwell worked on a bipartisan way. we don't know what this means for low income housing and impact on affordable housing. a lot of universities are coming through the it what you know what this means for them. we have not had a single hearing, not one on these proposals. this is legislative malpractice, contrasted to 1986. 27 hearings starting with the treasury secretary. on top of all that we've got now a proposal to repeal a central provision of the affordable care act. committee has not held a single hearing in congress on the ac are on the broad question for health coverage for all americans. think about that. we went to the repeal and replace bill and graham-cassidy, and now the new midnight repeal provision, we haven't had a single hearing on any of this legislation will affect middle income americans and their ability to get health coverage. how will the late-night affordable care act provision affect the overall health care system? have we heard from people knowledgeable in the field? those advocate for the pat

we are going to wind up with senator cantwell. up and thenish it we are going to recess until 2:30. i will take the opportunity, even though i think this is a very important subject. i know we have a vote that is down to one minute. pills subpart f, are subject to the current taxation, is that correct? >> that is right. >> how much revenue does this provision lose? >> i will have to look it up. : it is cantwell ok, your around -- comments are at the foreign base includesncome which passive income, including dividends, random royalties of income operation, foreign base company sales income, foreign-based services, foreign-based companies related income. are there any of the categories repeals in this mark? >> know, senator. >> why are we assuming a revenue loss for this provision? does jc ta believe the revenue will not be captured by the marks current inclusion of global intangible low tax income? doesn't drilling a well not create a global low tax intangible income? create during would not global intangible low tax income. the estimates provided here reflect a lot of interaction be

ank you, chairman markowsdki and ranking member cantwell. i would also like to give special thanks to senator mar kousky and all the members of both house and senate who have taken the time to come to puerto rico and bare witness to the island. it is impossible to describe the fury and vileance to the people who did not experience. causing the full failure of the power grid, major damage to our water systems. airports rendered unuseable. roads and bridges were washed away and virtually all communications systems were shut down. i was there when we to rescue 2,000 people from roof tops when flooding reached massive proportions several hours after the hurricane hit. i saw mothers carrying their in infant infants. i had to drive several hours northwest and through the mountainous regions to warn folks their dams could collapse because there's no other way to communicate no phones, no radio, no water, no power. no business is open, lit logical access to roads. i flew over parts of puerto rico that look like a category 5 hurricane went through it

cantwell: thank you, mr. president. i rise today to talk about the affordable housing crisis has gripping our nation. when i say "crisis" i mean i know that people here on the precipice of talking about what we're going to do in response to hurricanes harvey and maria and marm, and i think -- i would like to say that the housing crisis that will exist in the aftermath of those hurricanes is very real but there are also even greater implications from the housing crisis that exists today without that's hurricanes and that it's only going to continue to grow and get worse until we deal with it. this past february, more than 2,000 families packed into the new holly gathering hall in south seattle. each family was whether to hear its name -- each family was hoping to hear its name call. it was a lot troy see if families could get affordable homes. the mercy athelo plaza would soon open 108 housing units. that is hardly a match for the families hoping to get into the units. but their chance for getting an affordable loan was

christopher cantwell, a self-professed white nationalist, is charged with using pe he's been behind bars in virginia, since his arrest in september. developing right now... police investigating new allegations of sex assault against kevin spacey. a former boston t-v news anchor says the actor groped her 18-year-old son last year at a restaurant. netflix had already severed ties with the "house of cards" actor after several allegations of harassment and assault. new this morning - we've learned spacey is now being cut from the upcoming film "all the money in the world," -- and will be replaced by actor christopher plummer. the three u-c-l-a basketball players arrested for shoplifting - could have to stay in china for months! the players.. including "liangelo ball" were accused of stealing from a and this morning, word that they won't be allowed to leave their hotel until the end of the legal process.. which could take months. seven on your side with a consumer alert this morning holiday shopping at one department store, going curbside. that's right. nortdstorm is offering curbside deliver

s in cantwell. aye. mr. menendez. >> aye by proxy. mr. carper. aye. mr. brown. aye. mr. bennett. aye by proxy. mr. warner. aye by proxy. >> mrs. mccaskill. aye. mr. chairman. no. >> chairman votes no. >> clerk will report. >> 12 ayes, 14 nays. >> defeated. turn to casey, number 26. >> we heard earlier about the process that will likely unfold if this bill moves out of committee. that there will be a bill out of the finance committee and then of course the house is working on their bill. should the bill go to conference, this amendment requires an open hearing on any measure with the revenue budget impact -- revenue or budget impact of greater than $1 billion. i don't think that's asking too much for openness and transparency so that taxpayers know in this rushed process leading up to a vote on the finance committee, which i have argued and we've all on this side argued as moving too fast, this kind of drive by tax bill, instead of being subjected to the number of hearings that the ranking member referred to earlier in the mid '80s where president reagan's something on the order o

, always good to see you, thank you for joining us appreciate your time maria cantwell of washingtonoining us. >>> elsewhere today, disney is in the spotlight after reports the company approached fox to buy its entertainment units. coming up, we'll get a preview of what to expect when disney reports its own earnings after the bell and whether ceo bob iger will address these deal talks. stay with us whoo! ( ♪ ) woman: class, let's turn to page 136, recessive traits skip generations. ( ♪ ) molly: i reprogrammed the robots to do the inspection. it's running much faster now. see? it's amazing, molly. thank you. ( ♪ ) thawhyour boss?ork for? yourself? your family? our financial advisors are free to realize a plan to fit your family's unique needs. we'll listen. we'll talk. we'll plan. baird. >>> you seen roku today? up 54% now after reporting a big earnings beat yesterday. the company's ceo spoke to cnbc this northermorning. he was asked if he could see roku going the netflix route in the future >> our business is being a distribution platform for other people's -- other companies' conten

. >> senator cantwell. >> we do want more jobs in america. if you wanted more jobs in ohio, you would make sure export/import bank was reauthorized. ge jobs have left ohio because we don't have a functioning export/import bank. that should be number one. we'll talk to your colleagues and this administration. if i could, mr. chairman, we had this discussion yesterday, which was about middle class individuals. now, i'm all for having the broad discussion my colleague from ohio just wanted to have but i'm not willing to have it at the expense of washington taxpayers. that is this chart shows two earning families, an average salary for elementary school teacher and police officer. they have two kids under the age of 17. so they are trying to live the american dream. yet under this proposal they will pay $900 more in taxes than they currently do. $900 more, which is less money for college education, less money for groceries, less money for rainy day. so when we started this debate, it was about how we were going to close corporate loopholes and ma