greta: laura davison? laura: yeah. these are the fights we are about to see breakout over these very i guess, sort of deductions that were put in for a reason, and have a lot of sympathy from members of congress. the reason -- one of the reasons they are moving so quickly with this bill is to ward off attacks from the outside. we are going to charge through together. they need all the revenue they can get. they don't have a lot they can give. there is a $1.5 trillion cut allowed. they do not have much room to move so they will barrel , through. there are a couple opportunities for things to change in a markup next week when it goes to the house floor. and over on the senate side. though something as big as medical deductions, if that becomes a central issue of the bill it will cost a lot of , money. and they might not be able to make the dollars work with that. greta: mike debonis, she is testing out a strategy. we don't know what the details are. they want to move quickly to stop lobbyists from saying wait, wait, wait

host: laura davison? guest: yeah. these of the fights we are about to see breakout over a lot of guess,ind of very, i sort of deductions that were put in for a reason, and have a lot of sympathy from members of congress. the reason -- one of the reasons they are moving so quickly with this bill is to sort of board on any attacks from the outside. we are going to charge through together. they need all the revenue they can get. they don't have a lot they can give. there is a $1.5 trillion allowed , saavedra have much room to move, so they will barrel through. -- the budget, so they do not have much room to move, so they will barrel through. something as big as medical deductions, if that becomes an essential issue of the bill, it will cost a lot of money. mike debonis, she is testing out a strategy. we don't know what the details are. they want to move quickly to stop lobbyists from saying wait, wait, wait, don't get rid of that reduction. guest: that is a part of it. but i would say to mike and a lot of other people wh

host: laura davison? guest: yeah. these of the fights we are about to see breakout over a lot of guess,ind of very, i sort of deductions that were put in for a reason, and have a lot of sympathy from members of congress. the reason -- one of the reasons they are moving so quickly with this bill is to sort of board on any attacks from the outside. we are going to charge through together. they need all the revenue they can get. they don't have a lot they can give. there is a $1.5 trillion allowed , saavedra have much room to move, so they will barrel through. -- the budget, so they do not have much room to move, so they will barrel through. something as big as medical deductions, if that becomes an essential issue of the bill, it will cost a lot of money. mike debonis, she is testing out a strategy. we don't know what the details are. they want to move quickly to stop lobbyists from saying wait, wait, wait, don't get rid of that reduction. guest: that is a part of it. but i would say to mike and a lot of other people wh

vonnie: laura davison, thank you. esident is meeting right now with some members of the senate finance committee beginning in about 10 minutes. that was laura davidson of bloomberg tax. julie: it is time for the bloomberg business flash, a look at the biggest business stories right now. , bravo is buying barracuda network for $1.6 billion. it 16% higher than barracuda's closing price on friday. barracuda offers cloud-based security and data protection plans. the transaction is expected to close next year. cable companies have a new strategy when it comes to streaming video services such as hulu. if you can't beat them, join them. operators comcast and charter are in talks to offer hulu through their set-top boxes. viewed theanies once streaming companies as existential threats to their businesses. that is your business flash update. the companyl ahead, that owns fortune and people magazine will have the owners. among those owners are the koch brothers. meredith buying time inc. for $1.8 billion in cash. this is bloombe

julie: kevin cirilli and laura davison, thank you so much. we'll talk more about taxes later on with doug. let's check in on the first word news with emma chandra. >> special counsel robert mueller says president trump's election campaign was subpoena him in october. miller wasobert seeking documents related to any contacts with russian operatives. two members of the senate judiciary committee also tossuring jared kushner provide additional documents into the rush investigation. u.k. prime minister sir theresa may is pressing ahead with assets to get the date of brexit enshrined into law. a spokesman says theresa may think two years is long enough for the private transition. the irish government wants to --the irish government wants the transition to take up to five years. authorities on the greek island of less about called strike urging residents to take part in antigovernment protests. the demonstrators want to change -- one a change of european migration and policy. they have ignored nearby islands to allow more migrants to travel to the

friday morning, bloomberg tax reporter laura davison and mike to bonus from the washington post discussed the republican tax reform bill released today and its potential impact on taxpayers. the shorter watch "washington journal," join the discussion. 10 months and to first term, president trump nominated jerome powell to replace janet yellen as the chair of the federal reserve. the new york times writes that mr. powell has consistently voted with ms. yellen slowly raise interest rates and fellow assets following the recession. colleagues consider him a centrist and pragmatist. the president announced the choice in the rose garden earlier today. pres. trump: thank you very much. please. i am pleased to welcome members of the cabinet, members of congress and distinguished guests to the white house rose garden this

vonnie: laura davison, bloomberg reporter. it is decision day for the federal reserve.he asset -- fomc is expected to keep rates on hold while signaling a december hike. the drama around president trump's pick for the fed chair, he is said to announce it tomorrow. joining us now is dan moss, writer and editor at bloomberg view. will we get a strong signal of a december hike today? not they are likely -- likely to make too much of a dramatic change. if there is little change or if the language in the first up toaph is sexed acknowledge larger numbers, that is a clearer signal. a are not waiving anyone off december. vonnie: will we have any illusion that this could be the fed chair's last or monetary policy could be changing, which could lead to uncertainty? dan: none whatsoever. it is distributed to the committee members in advance, they discussed it, sign off on it. politics i cannot see coming into it, especially if no one really knows. janet yellen has two more meetings before the term ends. mark: ahead of the fed chair decision, if it is to come this .eek, we have th