host: next up is a clay in metairie, louisiana. republican line.ler: thank you for taking my call. i have watched you over the past 10 years. you are a will ask -- well respected economist. i have a question. assuming 3.5 million -- trillion package is passed, i am a simple man. i would like an explanation. hypothetically, i am making $75,000 a year. with the housing market i sell my house for one million. -- one million .2 -- 1.2 million dollars. the first million dollars would be tax-exempt. how would this work with the package passing? guest: i do not think that would change for you. i do not think there's going to be any change in tax law as part of the $3.5 trillion package which would affect you. in the legislation, -- >> welcome to our witnesses. good friends of the committees, the honorable bill. the former director of the

that would be kenner, metairie, laplace. a 150-mile-per-hour storm.g to die now. no, there's not much land down there. it's going to take sometimes. the storm surge could be 15, 16 feet. if you get wind on top of these 15-foot surges, some of the waves will be ten feet on top of the surge itself, wolf. probably the worst that some people have ever seen even though we had katrina down there and had other storms. for many people across the south part of louisiana, this is the worst storm they've ever seen. >> i was going to say, chad, hovering over this, exactly to the day 16 years ago katrina hit that area, and we all know what happened then. >> we're worried about the people on the other side of the river this time. when you push this surge to the west or south, if you will, because the river bends, this is where the surge is going to be, not so up many for the north side. we've seen a lot of water on the roadways from pill lux xi, to pensacola, bay st. louis, the surge is already here. some of the surge is already six feet. it's still going up in som