connell mcshane on the budget negotiations.apiro has the details on terms big tax announcement. >> good morning. today that billions of americans have awaited the president trump will outline the broad principles to lead to the legislation of tax reform. the business taxes to a corporate rate of about 15%. that would be much lower than the rate for corporations and businesses pay now but there is concern it would shortchange the u.s. treasury lead to greater deficit in greater debt. here's what sean spicer had to say in response to that. >> we've got to do everything we can to get economic growth and made tremendous headway on the regulatory front and he will do everything he can on the tax front. reporter: the president is expected to lay out how he plans to lower taxes for middle-class americans. back to you. lauren: we look forward. i'm shapiro coming thank you. nicole, circuit ideal to fund the government by friday. connell mcshane has the latest on the budget talks and debate over how to fund president trump's border wall.

connell mcshane, thank you very, very much. >>> meanwhile, the u.s.re, at least more than ever, on china to keep north korea in check. the vice president just today saying he wants china to do more. here to discuss, former state department official david tafari along with michael balboni and retired lieutenant colonel dean. we've gone into the saber-rattling phase of this where we've been before, but never have we gonento it after launching a series of tom a hawk missiles at one particular theater and then dropping the mother of all bombs on another. does this give us more strength, does this give the current administration more strength to push through some results? >> well, i think that military, diplomacy works best with the threat of military action to follow it up. and for years we've just kicked the can down the road. i think the trump administration has said that, you know, we've reached a point now where it's time the act. but, you know, in acting it really is making china understand that we're serious about doing something and getting them to

connell mcshane watching the senate briefing on the north korea nuclear threat and lori life from the floor of the new whitetock exchange. house. president trump's top economic advisor. they just unveiled what we've been waiting for and we know you had two. the highly anticipated tax plan. the reveal includes three tax brackets instead of seven. and they are as follows. 10%, top individual rates would be 25 percent. the president also proposing to/corporate taxes from 35% to 15% and in addition to that it would be a one-time tax and trillions of dollars held overseas by the american's americans biggest corporations like these companies. the biggest tech companies with cash on hand but we are looking at what we have overseas. twitter $46 billion in cash. it's not the value of their factories or real estate. that is cash that they don't want to bring back. it would help stimulate growth re in the s. and they put it to work. some disagree with that assessment but let me get to adam shapiro you got the first question in when the plan was unveiled but it was really interesting to see gary

connell mcshane with the latest on that.reporter: interesting what you guys were talking about with north korea. this is big week for trade anyway. comment made by president trump south korea, similar what he said about nafta. we have to renegotiate the deal we have. if that works we have to get rid of it completely. the president was interviewed by reuters in the oval office. a lot of news came out in the interview. one of the things he came out blasting chorus, free-trade agreement with south korea. even blamed secretary of state who in office that was signed, quoting the president, it is unacceptable. it's a horrible deal made by hillary. it's a horrible deal and we'll renegotiate that deal, or, terminate it. now vice president pence is just back from his trip to asia which included talks in south korea, much that we would think, and we've been told was about north korea. by the numbers, trade, north korea, is one our larger trading partners. look at list. last year from the figures. china at the top. nafta countries, can

that is when connell mcshane wasn't even born. he joins us with an update. >> nobody is a bigger 86 mets fans than me, neil. >> neil: anything i can do. >> back here in the year 2017, it's interesting to hear them talk today. a couple things. they want to make it simple for all of us to file our taxes individually. to the point there that you just heard, they want to cut business taxes so american companies can company more effectively with the rest of the world. that's in the broadest terms from what we heard from the president's chief economic advisers. let's get a few details. first for individuals. they want to go from seven tax brackets to 3. 10%, 25% and 35%. they want to double the standard deduction creating a zero tax rate for married couple with the first 24,000 they earned. they want to end all deductions except mortgage deductions and child care deductions. they want to move to a territorial tax system so companies can only may taxes on profits made here. and eliminate some of the special interest breaks. so listen to

connell mcshane with what is next.: nunes move is interesting point, leaving the russian investigation on temporary basis. a house committee is looking whether he disclosed classified information without authority to do so. nunes essentially made two arguments about that. number one accusations are entirely false and politically motivated. number two in terms of behind them, it is left-wing activists groups. he said all of that, he is still stepping away. as he does so leave congressman mike conaway to fill in and ranking democrat on the committee, adam schiff. both of them spoke about this. let's listen to that. >> these charges i believe are unfounded and inappropriate but theeth micks committee will work that process out. i have confidence with devin's roll as chair and serving with him as member of the committee. >> he mentioned it is in the bests interest of the investigation. it will allow to us have a fresh start, moving forward. i look forward working with mr. conaway. this investigation i think is of such crit

connell mcshane has the details. connell, i saw zippy was going to be there as well.s a big player when it comes to usd a and farm workers. >> right. a lot of different issues coming together to make this executive order. the basically idea to cut through the gobbledegook, as you put it to help outhe agricultural business and give 180 days to report on the factors that are holding back farming, generally speaking in the united states. we have been told the goal will be to look at policy changes that might lead to things like economic development and job growth, infrastructure improvement, things like that. also, it gets rid of a white house rural counsel that was put together in the obama administration, which was supposed to be coordinating role policy. so that is out. this is in. now, big picture, what issues may be holding back farming? what might then talking about? well, after what we've been watching here in washington today, certainly one has to be trade; right? there's more food grown in this country than we can eat, so exporting that food to other countries i

connell mcshane with that.will heat up on senate floor, it looks to your point we're going nuclear unless something changes here. this "nuclear option" get as name as analogy to nuclear weapons, last option out there, most extreme option. in this case we're talking about a change in senate rules. so you would have it as a simple majority needed for passage in the senate, rather than supermajority which would be 60 votes. it is down to simple math from all we're getting, at least 41 democrats are opposed to gorsuch. doesn't take a genius getting to 60 does not appear likely. the ball in mitch mcconnell's court, the senate majority leader. he is expected, everybody is saying he will change the rules and hasn't come out explicitly said i'm doing that instead he continues to say things like this. >> what i'm telling thaw judge gorsuch is going to be confirmed. the way in which that occurs is in the hands of the democratic minority. and i think during the course of the week we'll find out exactly how this will end.

connell mcshane with that. reporter: timing is everything, this attack which killed the police officer came before the presidential election they're holding there on sunday which we'll talk about in a moment. what we'll talk about the missed warning signs with this attacker, who it was turned out detained recently, just in february, for at that time, threatening the police but the associated press breaking that story said he was soon let go. 39-year-old kareem shofri, the attacker is now dead. he was convicted two years ago in 3:00 of attempted murder in shootings of two police officers at that time. did he act alone this time? that is another question french police looking at. they detained three members of the dead gunman's family. just in to us, courtesy of reuters, another report says investigators found a written note defending isis right next to this guy's body when they found him. talk about the timing. we don't know if this man acted within the le scheck in france in mind. president trump seems to think

connell mcshane.r what he does and indicated anything we do, like we did last week with the tomahawk missiles but he met within in-kind response whatever that means. the united states ambassador for special political affairs at the united nations ambassador stuart holliday. thanks for taking the time. what do you think this happen? i know it's just a guess, but let say the government launches and other chemical attack him and not just to follow traditional military attack was they did over the weekend in the same place. and we respond or try to become a hot missiles. >> i think the strike with the tomahawks was designed to sort of limit confrontation with the air defense system there and possible interaction with the russian forces with the assad regime. president trump has made it clear he will act and as far as iranians are concerned, you expect them to disrupt and salesmanship in iraq as well as to keep funding hezbollah and client state. the russians have deployed a naval warship. th have a base a

connell mcshane is in washington, d.c. with the latest. connell? >> reporter: hey there, melissa.he freedom caucus does seem to be coming around, the mcarthur amendment talked about the last few days here in washington. essentially would give more power to the states. now it's possible, possible that we see a vote on health care by the end of this week, but only if, and this is important, there are more moderates that can be convinced. still work to do there. one thing we will see for better or worse by the end of the week is movement whether or not the government will keep up and running after the deadline is friday at midnight. that the point, all indications, everything we're getting is a deal is getting close. it's not there yet, we had an interesting development earlier today, involved the house speaker paul ryan and his caucus. he met with the republicans on capitol hill and when they met, we're told health care was the main topic, not government funding for what it's worth, and after that meeting, speaker ryan came out and said this about the budget talks. >> we're getting

fox business's connell mcshane live from d.c., with the details. hi, connell. reporter: this is all leading up to the talks to the friday deadline. the president has a group of conservative journalists last night over to the white house. some reporters there for that meeting said that mr. tom doled them at the meeting he might spending bill setting aside money for border security, not necessarily for a wall. to follow up we had comment from the president that began with tweet earlier today. don't let the fake media tell you i changed my position on the wall. it will get built to it stop drugses human trafficking. that in turn led to questions on timing of the funding just this afternoon in the white house briefing room. >> i think there is a lot of things have to happen. like any construction. >> when do you start construction? >> you have to do planning. we'll take the first steps now and continue to seek funding through the fy-18 and further budget to make sure it actually is completed. reporter: so it's a process. there has been one interesting new idea floa

neil: connell mcshane.ll lago resort, a walk with his inese counterpart, xi jinping is expected to leave today, the chinese president was stunned, and what he effectively announced commenced against the syrian regime last night. where where we. that did not go down well. it did not interfere with the mission today and the brass tacks today where the chinese can play a role in thwarting another tyrants, the one in north korea, and some influence stopping, into correia, and they were told personally hit it off, they were not strangers with each other. they dealt with each other in the past over these past 30 years, party start in charge of enticing business contracts with each country. donald trump was always critical of the chinese, and a far bigger worry to him. we are following the development closely, tt is why warlive weekend. monitoring these developments, and on fox news channel, 10:00 to noon eastern time on the fallout of what happened in syria, and to north korea to neil gorsuch to markets confused

i'm connell mcshane in for neil. president trump is in large large. there are signs that it will be anything but a quiet one. in a new interview north korean official is blaming the president for building up what north korea says vicious cycle of tension. saying his aggressive tweets are making trouble. north korea is preparing for the day of sun, as they call it, where the militariry will be on full display. last year on the day of sun, there was a intermediate range missile introduced. today there is concern there may be a nuclear test coming. white house warned against test like that. north korea said, no, we decide whether the test will happen. we released a picture, show you the military might, we'll show you the picture when which get it back, military might that to intimidate kim jong-un. that is the picture. nbc news saying the u.s. might strike first. official telling fox news those reports aren't true. what to believe. north korea says the tension has to be stopped before it reaches an irreversible stage. if you die guess all of that, why we

let's go to fox business's connell mcshane in washington, d.c., with the very latest. hey, connell. reporter: it is one step at a time and avoiding the government shutdown is certainly step one. it is done, only one week, earlier today the house approved legislation keeping government running for a week, essentially buying themselves time. vote was 382-30. in the senate it passed unanimously. now question is being asked what is next. certainly health care is a possibility. we've been talking about it all week. we thought we would see a vote today or tomorrow out of the republican health care plan. but about this time yesterday, it started to become clear that was just not going to be the case. they didn't have the votes. now republican moderates and conservatives will keep on talking. what we still do not know even on friday afternoon, when they will be acting on this much-talked about macarthur amendment. listen. >> members have seen a new amendment to add to the bill. they have been looking at it this week and i anticipate as soon as memmembers have looked to that, we will bring t

connell mcshane is here with more. >> the house ethic s committee is looking to whether he disclosedlassified information without being authorized. the accusations were just entirely false, politically motivated and blamed left-wing activist groups. he's out for now though. congressman mike conway takes his play and told fox earlier today, the charges against nunes in his view are unfounded, but he's going to step in and work with adam schiff, democrat and ranking member. here's schiff. >> as he mentioned, it's in the best interests of the investigation. it will allow us to have a fresh start moving forward. i look forward to working with mr. conway. this investigation is of such critical importance that we need to get fully back on track. >> schiff quick to add the house investigation never actually stopped. for developments surrounding susan rice, there's still calls from republicans for her to testify against the unmasking of names in the trump transition. senator richard burr said her testimony might be of interest to us, but still no official word on whether she will testify soo

connell mcshane has more. >> anybody can get the extension. a few important things to know.you don't need a reason to get yourself an extra six months to file your taxes. but file is the important word to pay attention word here. the extension gives you more time to file, not to pay. we'll look at what the tax experts need to reason today. most important things, first of all, ask for the extension if you need it. you don't need a reason. though you don't need to ask. ask by tomorrow. that's the deadline. the 18th of april this year. if you do nothing, that could get you in trouble. go on the irs website. look it up. how long is the extension? six months. just like that, you'll get to october. the final thing is very important. make a payment even if you ask for an extension. you say why would i do that? the late penalties, which are 1/2 of 1% per month kick in tomorrow even if you get an extra six months to file. experts say if you think you owe the government money, send an estimated payment in when you ask for the extension. that will help you to avoid the penalties. that'

fox business network's connell mcshane on how that is possible. >> that republican for the republicanl committee and what that raised in the first quarter, more than they ever raised in the first quarter after a presidential election. you just need to look at, this you mentioned $41 million plus for the gop during president trump's opening months. under $18 million for the democrats in the early going of the obama administration. that $41 million number and a lot they say is grass roots, way more than the democrats raised this time. the dnc bringing in less than $24 million. why does it matter? mid-terms are coming. here's a statement laid out by the party chair. americans across the country say a better chance for better prosperity is better under control of the house and senate and president trump. democrats need 24 seats to take back the house or smith. you have the two seat majority for the republicans. so looking at it from a gop perspective, there's only one incumbent up for re-election in 2018 and if these numbers are any indication, doesn't appear as if money will be any objec

that is when connell mcshane wasn't even born. he joins us with an update. >> nobody is

connell mcshane. meanwhile the stock market.ries notwithstanding, some more vague than others some agendas more up in the air than others. stocks at highs of the day, around up 16points on the dow -- 168 points on the dow as second quarter looks some general advances we saw in the first quarter, what could be first quarter report cards out of corporate america. republican congressman doug collins suspects that has a lot to do with optimism we'll get a tax deal and market-friendly developments. the congressman is with the house republican caucus vice-chair and a very big cheese. congressman, nice to have you. >> neil, you're making the points. appreciate to be on. neil: when you hear this, and see what markets are doing and seeing there is optimism here they will get what they want, they will get those tax cut, maybe even a rework of the repeal and replace on obamacare, i often say on this show, a lot of times they are priced for perfection. they can't afford even the slightest disappointment. that is a lot to expect all by the s

this is our number to apar connell mcshane filling in for neil cavuto.have a global rally in the markets there's a really doubt they the markets. similarly tout therapeutic as they like the idea that the centrist candidate is the favorite in france in the election there. the runoff between macron and le pen. macron seems to be the favorite and all is right with the world. european markets up a time today. france middle of the backup and 4%. u.s. markets are pretty good game as well. nicole petallides joins us from the new york stock exchange. pretty good day. >> that's right indeed. it raises any losses for april. the nasdaq had a high was macron leading the way. 68% according to the latest polls. the runoff now means other than the idea as they say of the european union everything goes as planned and listed the upside abroad in right here at home. we see so many sectors to the upside good looking that some of the names and i doubt that our hitting some all-time highs come including mcdonald's, home depot and united health, the two will be reporting tomo

connell mcshane left us for washington and we're worried he's never coming back. tomorrow? really?now, if they're going to get a floor vote by tomorrow, it would have to go through the rules committee today, and so far we have not seen the definitive sign that's happening. speaker ryan asked about it earlier, no decision has been made, but we'll see, could be saturday as well. the democrats are adding to the drama of all this. minority whip steny hoyer said he would oppose a short-term resolution to keep the government running if health care comes to the floor tomorrow or saturday. that works into it as well. either way, the question remains, you mentioned the freedom caucus, are the moderates coming around to the amendment. tom mcarthur is hopeful. >> am cautiouslyptimistic that we actually will have a vote and that we will take the first steps towards repairing our health care system. >> reporter: the key to his amendment, this mcarthur amendment would allow the states to ask for waivers on a number of obamacare provisions, there's one for example, insurance companies have to cha

you will have to take myself driving, steering wheel out of my dead cold hands, connell mcshane. want to get you in for a running start. connell: filling in for varney on the other end wouldn't do that. would have tap danced to the top of the hour. we almost made it, have a happy easter. we have a lot more to cover on "cavuto: coast to coast." i'm connell mcshane in for neil. president trump is in large large. there are signs that it will be anything but a quiet one. in a new interview north korean official is blaming the president for building up what north korea says vicious cycle of tension. saying his aggressive tweets are making trouble. north korea is preparing for the day of sun, as they call it, where the militariry will be on full display. last year on the day of sun, there was a intermediate range missile introduced. today there is concern there may be a nuclear test coming. white house warned against test like that. north korea said, no, we decide

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i do want to thank connell mcshane. also charles payne in my absence here. if you're looking for tax relief , but we've come a long way from a month ago where treasury secretary steve mnuchin totaled me this. >> our goal to pass tax reform by the august timetable. that is very realistic. that is something the president and i are committed to doing. neil: so by august, voted, done and agreed? >> and signed. neil: no, no, and no. trying to get this done soon, by august, doesn't look like they will have a plan out by then. that is weighing on stocks as stuart pointed out. the dow down session lows down about 168, now, 170 point. a lot of this the notion i think a tax cut delayed is one feared to be a tax cut denied. that weighs on investors who had been hoping this would be a not necessarily a slam-dunk but at least a likelihood now this year. forget about comprehensive tax reform. growing doubts as we'll ever see tax cuts. hurting the dow as well today is the financials and the prospect that big brokerage houses like goldman sachs reporting some disappointing

we don't want to get ahead of ourselves here but connell mcshane has the latest what could be the ingredients, the second attempt replacing and repealing obamacare. what are you hearing, buddy? reporter: neil, there is definitely progress being made in the house. the market is hearing that as well and liking what it is hearing with the 143-point advance in the dow. there is definitely still work to do. gop sources told fox business, they're cost with the new amendment they could get as many as 20 additional votes. but senior gop sources they don't know if they will end up with enough. if they end up with enough to get it passed. congress comes back monday. back in session monday. they don't have scheduled time, timetable for a vote but they do say these sources progress is being made on health care. that is helping out the market. a draft proposal is making the rounds, states obtain a waiver from the federal government to do away with certain protections from the obamacare. in order to get the waiver the states would have to prove they bring costs down. that is part of it. there is more to it

connell mcshane has the latest. >> reporter: hasn't filed one yet but certainly looks like they're movingon. a fairly dramatic news conference where the lawyer said the guy lost his two front teeth he. had his nose broken, suffered what the lawyer described as a significant concussion dragged off the united plane this dr. david dao, he wasn't there himself, his lawyer was and so was his daughter. listen to both of them. >> for a long time, airlines, united in particular, have bullied us. they have treated us less than maybe we deserve. >> we were completely horrified and shocked at what this happened to my father when we learned of the incident. >> reporter: what his attorney went onto say, if you're going to remove a passenger from a plane like this, the law, he explains, says it can't be done with unreasonable force and violence. so charles, that's what the lawsuit will come down to, whether or not it was done that way when dr. dao was dragged off that way. wouldn't give a seat to employees. ceo is ashamed of what he saw in the video. see where it goes from there. charles: stocks are ex

neil: thank you, connell mcshane in washington. the wall will not be a part of this we're told. o connell's point does that help? ted cruz had a novel idea for the wall. have "el chapo" pay for it. you will miss to the opportunity to hear my "el chapo" impression which is dead on. that is coming later in the show when i'm feeling a little more freewheeling. meantime, "new york post" washington bureau chief is here on that. what do you think, gabby, all of a sudden that thorny issue put aside and that helps republicans avoid the calamity of a shutdown, what do you think? >> avoids a partial government shutdown on friday but some conservatives are actually quite worried that the president caved too easily on securing funding for his border wall in this spending bill. if you go back to what he initially said what he wanted in this bill, he mentioned that he wanted a dollar for dollar match on financing these obamacare subsidies, which is something that would play ball with democrats and securing funding for his border wall. he later backed off of that. we've now seen thiswishy-washy

connell mcshane has the latest on that front. of tough talk whether it is tillerson talking tough about russia, whether it is fundamental in common mr. lavrov serbey putin will meet with. talking tough and frenetic conspiracy theory or two. moraitis north korea getting in the middle of things. let's start by playing some comments from the secretary of state rex tillerson maybe for his much-anticipated minutes in russia about the relationship between russia and syria and the dynamics that were there. let's listen. >> russia has really aligned of late the sub diver shane come at iranians and hezbollah. is that a long-term alliance that serves russia's interest? or would russia prefer to realign with the united states, with other western countries in middle east countries who are seeking to resolve the serious crisis? reporter: recent certainly some questions there. this man, vladimir putin with his comments later today seem to throw at a conspiracy theory of sorts saying he had this information suggesting the united states is someh

i do want to thank connell mcshane. also charles payne in my absence here.

connell mcshane it is yours. >> we do have breaking news on "cavuto: coast to coast."ndidate in france, emanuel macron will be the next president of the france. he is headed for a runoff against marine le pen on 7th of may. investors love the idea how it is playing out.

. >> collin mcshane in this morning: connell: clayton got back and that's it.ank you for being here. abby: and clayton is back. how was your time off. clayton: it was good i was on a disney cruise. it might as well been called the fox true because everyone loves the show. great to be back. he. abby: did have you mickey mouse pancakes. clayton: my kids had mickey mouse waffles. connell: my kid was 2 at the time. we told her when she is old enough to have her own children we'll take her back. clayton: so 18. we have a jampacked show for you this morning but first some headlines. abby: great to be here this morning. starting with a fox news alert. the polls are open in france. it is election day. voters casting their ballots for the next president of the first round of the country's most high stakes election in generations. macaronmac macron and marine la. he la pen taking a hard line on immigration. we will see what happens today. american thrown behind bars in north korea as tensions continue to rise. south korea media reporting a professor was in the country di

i'm in between two of the best guys that i know ed henry and connell mcshane. to talk about diet sewesodalater this hour. abby: if you like diet soda you may not want to watch that segment. we hope you are having a good saturday. ed: attorney general jeff sessions said enough is enough yesterday. he has been on this very important tour for the trump administration with the homeland security secretary telling these nine sanctuary cities show compliance with federal immigration laws or else. you're going to lose federal funding. and they actually put a deadline on it. abby: they did. that was the news out of that. they have been talking about this for months and months but putting the deadline of june 30th when they will take the funds away. you have had the dhs secretary and attorney general jeff sessions. they have been traveling to the border. they went to el paso yesterday in san diego. here is what jeff sessions said there. >> today the department of justice sent nine letters to nine jurisdictions that were identified by the obama administration as having po