gerri willis, thank you very much. >> you're welcome. stuart: check the big board, we're up 24 points. 22,685. more "varney" after this.

gerri: and gerri willis in for lauren simonetti. cheryl: great to have you here. offee going. train to get ready for great interview in a few moments. but the president was up to over the weekend. pressuring house republicans to approve the senate budget bill. pushing hard for tax reform. on a conference call come president trump warning the gop of the steep price to pay mixtures midterm if the doesn't pass. speaking exclusively with maria bartiromo. >> i think we have the votes. rand paul is going to vote for the tax cuts. i think other people, we have tremendous enthusiasm. i'd be very disappointed if it took that long. it could be substantially less than that depending what happens when we send the bill back to the house. they send it back in people go in may 200 suggestions as opposed to maybe no suggestions. >> top earners pay 80%. why are so afraid to cut taxes on the top earners. >> look at this. i'm very happy with the would have done prior to this in my civilian life. >> of course. >> it's about me representing rich people. we have so many things in this p

thank you very much, gerri willis as always for staying on the story.scussing equifax to, look at what markets is doing, dave nelson and robert luna. good to see you both. david, i don't see how this company continues on. i don't see how this guy keeps his 18 million-dollar parachute. i don't see how we don't really start to require a whole lot more from these companies that are, i disagree with gerri, we are their customers, they're supposed to safeguard our information. they get their paws on it. it is their responsibility to keep it safe. >> it is pretty clear what we're witnessing today is kind of a public hanging. we have to have one of these every now and then but this is pretty common for corporate america. when you have egg green just act like this. you come before congress, resign, fall on your sword but shed no tears. he will walk away with many millions of dollars. i doubt very much we can do to claw that back. trish: this is a big deal. 145.5 million people, robert. we, i guarranty you all, if you're watching at home, you probably had your i

gerri willis is standing by with some of the big headlines this week. gerri: a busy week indeed. earning season getting underway with bank earnings this week. wells fargo with revenue numbers coming in well below the mats. the bank however did report slightly better than expected earnings per share. wells fa fargo. the bank's trading revenue fell 22% on a year-over-year basis. the dow, nasdaq and s & p hitting record highs. walmart helping to push the s & p into positive territory. the white house says it will end billions of dollars to insurers unless congress can reach a bipartisan deal on healthcare. billions of dollars goes to offset costs to insurers. the wildfires raging in northern california are the deadliest in the state's history. at least 31 people are dead and 3,500 homes have been destroyed. they broke out mostly in the wine country and have covered 300 miles. maria, back to you. maria: the federal reserve remains divide over just how quickly to raise interest rates. janet yellen's group remaining perplexed by persistent low inflation. but they say there is a rate hi

gerri willis and jessica, good to see all of you. >> good morning. lauren: general was loud and clear, stop politicizing everything specially fallen soldiers, do you agree here? >> they have gone too far and they continue to go too far. last night, i am in the lounge in orlando airport and i'm watching 18 minutes of this man, i'm thinking it's tend of the story and the media has to walk it back and the congresswoman will have to walk it back and another network is on and breaking the threats of general, a gold star man and they are calling him racist, no matter what trump says or, do it's twisted like a pretzel. if it's good, it's bad and if it's bad it's worse. i don't think it will ever stop there. a momentum here that continue to go after him unfortunately. lauren: rachel, you think it would stap at our military, fallen u.s. soldier dying and serving our country, is there any no-go zone left? >> no, nothing seems to be sacred and i think the trump derangement syndrome is anything is fair game if it knocks down the president and advances the #resis

but first let's get the biggest headlines from gerri willis. gere report dow had its stht straight winning week. the push for a tax bill got past a big hurdle. the house narrowly passing a budget. when lawmakers can agree on a tax plan. the house is expected to unveil their version this week. the president talked about the importance of passing tax reform. >> we are bringing the corporate rate down from 35% to 20%. it will be the biggest tax cut in our country. right now our country is one of the highest taxed in the world, and we can't have that. gerri: a horrible week for general electric stock. they are trying to sell parts of the healthcare and transportation division, including the railroad business. they are raising $93 billion in market value. maria: the president's tax reform plan is front and center for his administration as well as the republican leadership in the house and senate. we want to get into it. with the budget passing through the house, it paifts the way for this tax bill to proceed through reconciliation. i sat down with t

gerri willis in the newsroom, to break it all down for us, gerri? >> that's right, cheryl. that executive order is aimed expanding insurance options for folks who buy their own coverage or work for small businesses. there are three elements. one, the order would make it easier for people people to band together to buy insurance what they call association health plans. those plans would be free of some affordable care act egglations that the requirement they cover a set package ever benefits. however it would ban lifetime coverage limits as does the aca. further, the order would allow policies to be sold across state lines. two, the president would order agencies to wind back obama era rule that curbs use of short term medical insurance. a low cost option that provides limited coverage. it would allow them to buy the plans up to a year once again. finally the executive order would allow the expansion of health reimbursement accounts. these are employer-funded programs that employees can use to pay out-of-pocket costs and premiums. obama era guidance from 2013 prevented preta

trish: you know what, juan, it takes to tango and the president brought this issue up and then gerri willis, the players took it on and they decided to take the knee and decided to make a big deal out of this and it's costing them. >> it is costing them. at the end of the day i respect what waun juan says, you're acting as if there's no other platform for these players. they can call a press conference and say what they want to say. when it comes to the game, entertaining americans and viewership is down 7%, this is real money. 14 billion dollars this industry is. let me tell you, americans are voting with their feet, they're not watching, and that is what matters the most, not seats, not busting the seats in the stadium because those numbers about the same. dollars and cents, that's going to make a big difference. >> gerri, let me quickly say, it's the president who said these s-o-b's, pretty offensive, should be fired. and he made this an issue and colin kaepernick who started this, started it a year ago. we did not see the public reacting this way. it was trump who got involved and made

gerri willis is standing by with some of the big headlines this week. gerri: a busy week indeed.arnings this week. wells fargo with revenue numbers coming in well below the mats. the bank however did report

gerri willis is in the newsroom.nges in but it looks to me like insurance companies are finally getting a little bit of speemac down here. to the nation's health insurance during the swift and negative reaction from the industry and the regulators. the health insurance plans and blue cross blue shield and i said we need in constructive solutions. lower consumer costs and stabilize local markets. it will do just the opposite. this action will make it harder for patients to access the care they need. cost will go down. the payments which are paid in monthly installments goes to insurers to offset subsidies to low income consumers. in fact in states like tennessee insurers developed options on the assumption that there would be no ensure payment from the government but that's not the case everywhere and the president of the national association of insurance commissioner said the move by the white house will raise costs for exchange customers. the state regulators across the country are very disappointed in the decision

gerri willis with all the details. gerri, incredible. >> it is incredible. lindsey lohan the key to the mini bar. i kid you not. that 2001 of the quotes. senate banking committee taking issue of irs handling of no-bid account for fraud prevention to he equifax, asking former ceo richard smith, why, why the former employer should be entrusted with those responsibilities after losing data on 145 million americans. smith said this. >> why in the world should you get a no-bid contract right now. >> i'm not sure it was no-bid. my understanding i don't profession to have details. it is with the irs. i think a we had in the past being renewed. >> so the irs released a statement too today, the short-term contract was awarded to equifax to prevent alarms in service during a protest on another contract. it is ongoing identity validation needs of the irs. equifax provided identity proofing service to irs under another contract. this contract was signed well after the big breach was announced. and of course it is day two for former equifax ceo on hot seat on capitol hil

neil: thank you very, very much, gerri willis.tech as you have been hearing here, on fire, microsoft, alphabet, amazon, all contributing. deirdre bolton how much that is considering to be the bottom line that run those companies. >> this is huge. talk about their money. that is always a little gossip gossippy. jeff bezos, amazon beating microsoft founder bill gates for the first time again. these guys seam to go neck-and-neck. amazon jeff bezos -- neil: how much today. >> that is market value. on different side, mr. bezos now worth, about $90 billion. neil: wow. >> there he is. neil: microsoft stock appreciated rapidly. because he has, jeff bezos has more physical shares. >> he has 17% stake in amazon. jeff bezos has not started giving his money away. bill gates has. he has gates foundation and giving pledge. bill gates would be worth a lot more had he not been putting a lot of his money into these health research projects he has been and other projects around the world. which he credits his wife to encourage and be focused. a lov

no state income tax or inherent hert answer tax and low property taxesment that's business, i'm gerri willish northam: i'm ralph northam, candidate for governor, and i sponsored this ad. narrator: ed gillespie wants to end a woman's right to choose. ed gillespie would put the government in charge of a woman's personal decisions, not women and their doctors. as governor, ed gillespie says, if ed gillespie would like to see abortion banned, i would like to see i would like to see i would like to see that ed gillespie never becomes governor. >> we are now learning more the role social media played in russia's online meddling leading up to the election. facebook co o cheryl the first time about the company 's role. sand ^berg told objection yoas that facebook is fully committed to helping congressional and will backed the three russiabacked adsment we want to give them the material. we want the full picture to be understood. we don't want this kind of foreign interference and none of us should want this foreign interference and in order to prevent it, we're all going to have to cooperate with es

gerri willis with more on that. >> with the obamacare health care exchange, an unpleasant surprise forfy for help in the federal government. higher premiums. the average height 30% for those folks. the numbers rising for middle-class people come even as people less well-off ineligible for premiums will seek reductions because the value of federal subsidies rises as premiums for the exchange's most popular plan, and the silver plan rise. written as premiums up to the donald trump administration would stop making the so-called churn reduction payments with $7 billion to payments directly to insurers. one implication of trump's move to stop pain to csr's as will pay more in consumer subsidy. according to data from the trump administration, premiums to one of the most popular metal price plans on exchange will increase by 37% for 27-year-old consumer in states where the government runs the exchanges. the report also reveals the declining number of ensure participants down to 132 for 2008 from 167 this year. open enrollment has been cut in half and continues through december 15. six weeks t

here is with details what she had to say is our own gerri willis. what happened with this one?a new challenge. that is how the sheryl sandberg, chief operating officer of facebook described the effort by russians trying to interfee in the 2016 presidential election by buying facebook ads. the comments came with a wide-ranging interview with the website, axios. listen. >> we want to give them the material. we want the full picture to be understood. we don't want this kind of foreign interference and none of us should want this kind of foreign interference. in order to prevent it we have to cooperate with each other with government and across the board. >> sandberg is hering 4,000 people to track fake accounts and quote, working on transparency. the interview came a day after sandberg met with top lawmakers investigating russian efforts to influence the election. sandberg is meeting with more lawmakers today ahead of a public hearing on november 1st where investigators will question officials from facebook, google and twitter on russia's use of their platforms. now, sandberg says

fox business network's gerri willis here.ose congressmen were in high dungeon. a lot of complaining. here's what happened. this was a minority hearing. they're allowed to do this on any big issue. the democrats calling their own hearing. they invited three ceos. nobody showed. the companies are not saying why they didn't come. you can guess. they would have gotten an ear full. i want you to hear what the congress people had to say. >> equifax has badly handled every aspect of this breach. >> the information stolen included the social security numbers and the date of birth for over 145 million people. that's half the population of this country. >> subpoena. that will get their lazy asses up here. >> shepard: wow! >> yeah. people weren't happy. >> shepard: they were right on the facts. 145 million were compromised. there's this new decision by our leaders in washington that the people cannot longer ban together in a class action lawsuit and sue the big banks if they do something wrong. what about these agencies? >> or any finan

gerri willis joins me now. thing after another, and you're talking about a whole lot of americans. maybe 150 million. >> that's right, trish. here's what we learn. equifax runs a payroll division on a unknown number of americans. and whose blog is a must read, security on that platform is lax. at issue, provided by equifax's tax division called the work number, designed to provide automated employment for prospective employers. and tens of thousands of companies reported salary data to it. the work number also allows anybody whose employer uses the service to provide proof of their income when purchasing a home or applying for a loan. the problem, the service is easily accessible. and as you know, allows the private details including social security numbers of 145 million americans. fortune 100 firms, government agencies, and universities. says the authentication system is weak. generally, all you need is a social security number and the birth date of the person of the information you want. sometimes, you're re

gerri willis is standing by with some of the big headlines this week. gerri: a busy week indeed.ngs this week. wells fargo with revenue numbers coming in well below the mats. the bank however did report

gerri willis, thank you very much. >> you're welcome.s. 22,685. more "varney" after this. (honking) (beeping) we're on to you, diabetes. time's up, insufficient prenatal care. and administrative paperwork, your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you too. at optum, we're partnering across the health system to tackle its biggest challenges. ♪ stuart: trying to put me in a good mood. bringing back the beatles. i'm in a good mood! down is up 22 points and change. we're back at 2 it thousand -- 22,684. we're have big tech names are up. apple up to 155. >>> the gun control debate front and center after the vegas shooting. our next guest wrote a piece about it. wait for it, nothing nor infuriating, foreign-born tv stars lecturing american on gun ownership. the writer, larry o'connor, wlan radio show host. i don't know why but we have him on the show. you're not referring to me. i don't lecture anybody about gun control. >> i thought you were

gerri willis has details. nt trump is set to issue an executive order aiming to expand insurance options for people that buy their own coverage or small business t would make people able to band together to buy insurance what they call association health plans. those plans would be free of some affordable care act regulations like the requirement that cover a set of package of benefits. also it, would ban lifetime coverage limits as does aca. two, the president would order agencies to wind back an obama era rule short term medical insurance that is low cost option that provides limited coverage. executive order would allow them to buy plans up to a year once again. the finally the executive order would allow expansion of health reimbursement accounts, hras. they are programs that employees can pay out-of-pocket costs or premiums. guidance from 2013 prevented pretax dollars from being used to buy health insurance on individual market. the initiatives are drawing fire from aca providers. they will disable the exc

gerri willis with that. > a new threat, but not a new challenge, how sheryl sandberg operating officer of facebook described russian intern ferns with the presidential election by buying facebook ads. it came within a wide-ranging interview with the website axios. listen. >> we want to give them the material. we want the full picture to be understood. we don't want this foreign interference. none of us should want to foreign interference. in order to prevent it we'll have to fully cooperate with each other, with the government, across the board. >> sandburg says the company is hering 4,000 people to track fake accounts and work on transparency. it comes a day after sandberg met with top lawmakers talking about russian efforts to affect the 2016 presidential election. sandberg is meeting with lawmakers ahead after public hearing on november 1st. they will question executives from facebook and twitter about the russian. committee officials agreed to reless them. neil back to you. neil: that should be pretty int

limits and whether you can deduct them or not just to pay for these tax cuts, to fox business' gerri willison this? >> i think, you know, this is serious talk about dramatically changing what is the biggest responsibility program in the united states of america. it does not surprise me that congress wants a piece of the $5.8 trillion action in retirement savings. what shocks me is that republicans want to do this. after all, this is americans taking care of themselves and the idea that they would reduce the amount of money that you can set aside pretax to $2400 rather than to $18,000 if you're under 50 or 24,000 if you're over 50, to me, is asson you shoulding. neil: you know, mark, i always think they throw this out there, but like the state and local tax deduction that's bandied about, i think all of this stuff is phased out except for the upper income. and that they're the ones who will still have to, you know, pay the piper on this when it comes to 401(k) contributions, they're limiting what they can write off and the same with the state and local tax deduction. what do you think? not t

the numbers get bigger and bigger don't they, gerri willis? >> that's right, neil.eo richard smith really earning his pension today as members of the house energy and commerce committee, both democrats and republicans lit into him like a pinata. the big question how did equifax allow hackers into the private information of millions of americans. here is the chairman of the committee, republican greg walden and congressman joe barton, also a republican. >> how does this happen when so much is at stake? i don't think we can pass a law that, excuse me for saying this, but fixes stupid. i can't fix stupid. >> the only way i know to do it, is some, fine per account hacked, that is large enough that even a company that is worth $13 billion would rather protect the data and probably not collect as much data, than just come up here and have to appear to say we're sorry. >> pretty spicy. congressman ben luhan questioning the former ceo here. >> do you think consumers should have a pay a penalty for your mistake, potential identity theft, false credit accounts, fraught lent t

gerri willis on getting a firestorm. >> absolutely come, neil.on called around nobody's taking responsibility for what is undoubtedly part of the absurd. what would be the impact of cutting the deduction from a 10,000 for those under 54 years of age. were you to invest 18,000 each and every year over 40 years, you've had $174,000 at the end of this period. 2400 with the same returns coming pages 289,000. does putting the late 18,000 over 40 years would earn 4,663,000 compared to 621,000 for those stuck in a $2400 a year. the returns would be much worse for individuals. the more immediate impact would be in the markets. traders say it would precipitate a selloff in lower levels in the long run. scott radler, chief strategic officer told me today. they have helped the market they elevated. the month later flows would be reduced fine pressure. neil, what it does sound like a nonstarter to me. doesn't seem like it has a lot of support. train to thank you very much. the two-minute warning for the president and the prime minister. amazon lucky not to u

gerri willis has the latest on all of that. >> hey, neil.expect and people to enroll in insurance coverage on the exchanges as a deadline for sign of approaches. consumers were put off by higher rates, confucian and a shorter window to choose coverage. "the wall street journal" say reporting blue cross blue shield of michigan is expect him to lose customers who don't qualify for subsidies and will bear the full weight of rate increases. insurers raising rates on the aca health maintenance organization plans by about 23% on average. rick natter the company said this. the people we lose will likely be the ones who have affordability issues. as a result, insurers pulling out all the stops to get people to sign up for coverage and making sure people understand and the special websites for enrollees to make sure they understand options for next year. but the impact on enrollment is complicated. according to oliver wyman, they rose an estimated 524% in the second quarter of this year. all of those without subsidies plummeted 22.4%. on what happens

gerri willis examines that short list and how it's looking right now. what do you have?ght, neil, and the candidates are -- number one, gary cohn, that's the current national economic council director and former goldman sachs executive. as you know his criticism of the president on his handling of the charlottesville crisis thought to make his nomination unlikely. two, current federal reserve member jerome powell said to have the support of treasury secretary steve mnuchin and favorite gradual approach to winding down the fed's crisis era stimulus programs. number three, stanford economist john taylor, very critical of the fed's easy money policy. advocated the fed use a mathematical formula, he advised republican candidate mitt romney and bid for the presidency and as you said pence is a fan. >>> four, former fed board member served as adviser to president george w. bush, favored by mainstream republicans and considered a shrewd political operator. and last but certainly not least, janet yellen served three years as fed chief and incumbency has benefits, according to th

gerri willis has more on that. what's going on here? >> hi there, neil, that's right.order aimed at gutting the affordable care act that was released yesterday, the white house, late last night, said it will end billions of dollars of payments to insurers, the so-called csrs, unless congress can reach a bipartisan deal on health care. the payments, which are made in monthly installments and would total $7 billion this year if paid, go to insurers to offset subsidies to low income consumers and have been the subject of intense speculation among insurers. now, those insurers have said that without the payments they may exit the obamacare exchanges in 19 -- 2019 or raise premiums even more. the administration maintains the payments are not constitutional because they were not authorized by congress. reaction has been swift. attorneys general from california and new york city, they are preparing to sue the trump administration to protect health care subsidies that the white house said would be cut off. new york attorney general eric schneiderman had this to say, quote: aga

gerri willis, what do you think of that?i think that's going to be unacceptable to the president. i think that's what she was hinting at. he wants a right-now answer, and it seems to me what republicans on the ways and means committee are doing is trying to find any way possible to pay for these tax cuts that they want to deliver even including cutting our 401(k) benefits which i think is anathema to so many americans. neil: you know, deirdre, they're running into some problems here just paying for this, and that's part of why you have to, you know, rob peter to pay paul to get some of the things you want, including phasing in some of the tax cuts, maybe getting a different bracket, higher bracket for the well-to-do, maybe you have them end up paying more than they are now. where do you think this goes? >> it's difficult to say at this juncture, but it's clear the markets are reacting, and most investors do not like this phase-in idea. we talk about certainty as something that can buoy markets, and i think there were a lot o

massive date breach learning the hack exposed information of even more americans than thought gerry willismight have been affected that is up from previous estimate 143 million numbers from outside company equifax thierd elevate the because the about before equifax ceo smith repetitives before subcommittee of house energy commerce committee expect fireworks representatives on both sides of the aisle are outraged about equifax apoll apologizing ahead for firm failings blames human error and technology failure, quote as ceo i was ultimately responsible for what happened on my watch equifax entrustedz with americans private data we let them down to each and every person affected by this breach i am deeply sorry this occurred, now, the equifax board is said considering back to compensation according to wong walking away with 18 million dollars, after losing all personal data practical every adult in the zmun what other fallouts do you expect. >> i had a chance to read his testimony yesterday fascinating he laid out a timeline my question was when did they know about the breach ahead of the sto