mayor michael bloomberg, welcome. the republicans and president trump say this tax bill is going to make historic changes to a system that isway out of what can. you are a successful business person. why do you think it's not going to work? >> well, i think it will make a star change to our system. unfortunately, it's all in the wrong direction. what this bill is going to do is create a 1.5, 1.7 there does dea --1.5 to $1.7 trillion defi. we won't have money to improve our school systems or do any of these things and it exacerbates the income inequality problem at the same time. it's really hard to see how you could call this bill reform. it has no reforms in it whatsoever. so if you had tax breaks before, basically you still have them, you're just going to have a lower tax rate for some people, mainly for the very wealthy, and those people are just going to have a bigger percentage of the pie. >> woodruff: just yesterday, treasury secretary mnuchin said this is a bill that's going to lead to massive economic growth,

we will be joined by michael bloomberg, one of the ceos. we'll also talk with mark carney. 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries around the world. this is bloomberg. day to checkt a equities, bonds, currencies and commodities. curve flattening has sunk to new lows. i don't want to get into the details of eight or nine curbs. still, equities move. elevated in brent crude. nejra has more on what is going on with that oil pipeline. dow at, really the daily a high, but the interim record is not at the level i sell. nejra: european equities resuming their gains after failing to find direction yesterday. i put sterling up there pretty much unchanged. you asked me if the u.k. was colder. it is unexpectedly higher, inflation, with 3.1%. mark carney will have to write that letter to the chancellor. the 10-year gilts yields are moving higher after the drop seven basis points. you mentioned brent crude yesterday, up almost 1%. above $65 for the first time since 2015, it is one of the most important pipelines in the world and is shut down be

bloomberg best" this week. thank you for watching. i am michael mckee. to "bloomberg businessweek." i'm carol massar. julia: i'm julia chatterley. carol: why traders are wearing about bitcoin. we will explain. julia: how the philippines became a test lab for fake news. carol: and a casting call from holiday parties. julia: all of that is ahead on "bloomberg businessweek." ♪ carol: we are with the editor in chie

michael: welcome back to "bloomberg best." i am michael mckee. bitcoin topped the $15,000 mark in trading this week. the cryptocurrency will enter a new phase in its development. at 6:00 p.m. new york time, global markets will start trading bitcoin futures. that is a whole week of exclusivity before its rival cme gets in the game. way ahead of the nasdaq's plan to offer bitcoin futures next year. scarlet fu and julia chatterley spoke with chairman and ceo ed tilly about the upcoming launch. >> we know what it takes to bring new contract to the marketplace. it is a slow build. we start the futures here. open interest builds over time. we have reliable settlements. we have oversight from the cftc and our own regulatory department. that builds over time. that is when i think the institutions will make more moves into bitcoin. but it is going to take some time. >> you started working at cboe in 1987 as a floor clerk. you've seen it introduce lots of products over the past 30 years. compare and contrast the size of the potential market in bitcoin futu

." -- that's all still ahead on "bloomberg best." ♪ michael: hello and welcome, i am michael mckee. is is "bloomberg best." the week began with high hopes for brexit breakthrough, following reports that the u.k. and it you had made some terms on their divorce agreement. the dream was quickly dashed on monday. mark: the expected breakthrough failed to materialize. apparently delayed over the irish border. the european commission president john claude juncker broke the news. mr. juncker: despite our best efforts and significant progress, we and our teams were not able to reach complete agreement today. >> this lunch started around 1:30 brussels time. about four hours ago. we understood that it one point, theresa may actually broke away from the lunch to call the leader of the democratic union party that props up her government in london. at this point in time, it was mostly the issue of the irish border. that sort of put an end to any possible breakthrough. >> what happened today is an indication of the political weakness of theresa may. the u.k. prime minister in the middle of interna

so michael bloomberg has got his finger right on the pulse of what could have been done in taking the existing tax structure, cleaning out all the crap that's in it and we all know there's a lot of crap that could have been cleaned out without even having to talk about tax cuts. this is what's going to happen, alex. this 21% tax rate that they have, with the current effective right now at 39% is 18, all right. so the effective rate after this is going to be what, 10? explain that to voters. i don't know how they do it. >> i don't know. you still have to explain to me how trickle-down economics will work in this effect because we've not seen it work there. michael steele, that's a wrap for now. thank you. >>> transgender, abortion, fetus, why is the staff at the cdc now banned from using these words? we'll tell you, next. ♪shostakovich playing ♪ from our family to yours... may all your wishes come true this holiday season. if yor crohn's symptoms are holding you back, and your current treatment hasn't worked well enough, it may be time for a change. ask your doctor about entyvio, the o

let me quote michael bloomberg. he said, ceos aren't waiting on a tax cut to jump-start the economy, a favorite phrase of politicians who have never run a company. it's pure fantasy to think that the tax bill will lead to higher wages and growth. i'll ask you plainly, are you living in a fantasy world? >> i would compare that anecdote to surveys of the businesses, the national business manufacturers that show the majority of businesses will do what we say, reinvest in the workers. reinvest in the factories, pay people more money, higher wages. >> let me pin you down on that. >> workers benefit on this through higher wages. it's not a question of if oop. t it's a question of when. >> i want to drill down on this point. "the wall street journal" recently had a conference of ceos. and gary cohn, the white house adviser, asked are you going to reinvest this money if tax reform passes? let me show you what happened. >> if the tax reform bill goes through, do you plan to increase investment? your companies' investment, ju

former new york mayor michael bloomberg says the trump withdrawal from paris has been a rallying cry for others to act. >> we have already created this america's pledge where we are going to meet our, our, agreements, already, without the federal government, not to say it wouldn't be better. >> reporter: getting the president to change signs is what macron told jeff glor he is trying to do. >> pretty sure my friend, president trump will change his mind in the coming months or years. i do hope. >> you think he will change his mind? >> yes, not ready to renegotiate. ready to work on him if he sides to come back. >> the trump decision to withdrawal has had another indirect affect. the decision so unpopular and isolating internationally, other world leaders have been less inclined to, as the expression goes, do a trump. jeff. >> mark phillips, thank you very much. >>> last week we showed you graphic video of a controversial 2016 police shooting. the mesa arizona officer was fired for violating police procedures, but acquitted last week of charges he murdered 26-year-old daniel shaver of

michael bloomberg, in an op-ed says ceos don't need a tax cut. to jump start the economy. is it pure fantasy to think the tax bill will lead to higher wages and growth. has congress listened to executives they might have realized that. the politics are clear, the republicans want a win. this sort of frankenstein approach of tax reform is what they are going pass. >> yes. yes, that's the best they could possibly do, given the time that was involved, the haste in which this was assembled. to put a 30,000 foot view on this, republicans talked comprehensive tax reform for a very long time. we can go back years and years ago, this century to the judd greg, a former senator from new hampshire. they had their own bipartisan idea. tax reform has been the forefront for a very long time. given all the competing interest involved, this is a corporate tax bill. when you are cutting the rate from 21% overall and you have massive things, you are not going to be able to fiddle with the individual side too much if all you can do is add $1.5 trillion to the defic

speaking alongside michael bloomberg, he said he does not consider the digital currency to be of valueis not for me. there are a lot of things that were not for me in the past that worked out well. it was 20 years forward and it worked out, i could tell you why. based on everything i know, i am not guessing that it will work out. i cannot say. i cannot say it is a fraud, because it might. confuse bitcoin with block chain. there is a technology where you can have different accesses the data. people can control it. you can see who is doing what. there are places where that is useful. the bloomberg system is a block chain. usersd of having the control it, we control it. it has all the attributes of that. bitcoin is something very different. bitcoin and other currencies, every day you have a new one, is something very different. whether or not the governments of the world will lose control of monetary policy, i am skeptical. they are not going to let that happen, and they should not. >> something that moves up and down every day does not feel like a currency. lloyd you grew up in a commodi

matt: that was daybreak anchor alix steel with goldman sachs ceo lloyd blankfein and michael bloombergunder and majority omer -- owner of bloomberg lp. sterling was the top performing currency among the g10 in november as investors foresaw progress in the brexit talks. the pound index is trading at its highest levels since may of this year. if the virus border issue remains unresolved, how vulnerable is sterling? joining us, garfield reynolds, bloomberg's mliv strategist. what are the main concerns -- i saw a lot of talk about the fact that downside risk is not trading at a premium to investors aren't as concerned about it. garfield: no, in fact the pound was the best performing g10 currencies, arguably one of the winners of the best -- complacency award. how much risk there already is, which we have already seen overnight. you are at -- assuming that northern ireland can agree about their border and do so cleanly and without having any impact on theresa may's government. and is a lot of assumptions as you said, the pound index is at the highest since may. risk reversals show options t

you laugh in the face of michael bloomberg, congresswoman, why? >> i do.ause many of the things he says are not true by other statistics and other folks that have given us information, such as, oh, the ceos won't give increases in wages. we know that is true. that study has shown that when companies grow, it benefits their employees. and so, you know wing what he's saying maybe from his own perspective, his own opinion, but overall, we know that when businesses grow, so do employees do better. as a matter of fact, there was an article just out there this weekend from the ceo of delta, who said, when we are able to grow, when we see the economy joel jolted, it helps everybody, including our employees. and here in the state of tennessee -- let me just say, in the state of tennessee -- >> go ahead, congresswoman. >> -- for someone with an average income, a middle income, we're going to see about an $1,800 reduction in their tax burden. that's a lot of money for people here in middle tennessee. it's estimated about 18,000 new jobs will be created. and the incr

we also have well-known philanthropists, bill gates and michael bloomberg. we can be sure that at the end of the day, emmanuel macron will have some announcement he can be proud of. annette: what are we expecting to come out of this gathering? reporter: it is all about finance. it is about mobilizing money and pressuring some of those corporate giants to shift to a more ecological strategy. what has become very clear in these years of climate negotiations is that federal money is not going to be enough to meet the climate funding gap. earlier, i spoke to the french environment minister, who explained why that is the case. >> state budgets are still limited. state funds should be used as leverage. but what we must do is train people in this dynamic, in these .nvestments let's train all private stakeholders, whether they be equity funds, banks, the world bank, or multilateral banks. the aim of this summit on the 12th is to align all investors in the same direction to win the battle against climate change. we also asked the french environment minister if we cou

david: fascinating conversation with lloyd blankfein and michael , owner of bloomberg news.nomy rebounding in the last quarter. but is it really out of the woods and have we broken the structural downturn? mumbai withive in the barclays head economist on where we go from here. this is bloomberg. ♪ david: let's get a check of markets in india, a few minutes into the session, following the gdp numbers. a slight upside at the end of the week. against the grain when compared to the broader markets. weakness in the indian currency. gdp numbers for the third quarter, calendar third quarter. have a look at my bloomberg chart, 3816. a plain-vanilla one for you. we have gdp growth going back to 2012. we see deceleration a lot of people were worried about. and of course, a 6.3%, slightly below estimates. 2 number we the q had. let's get more context from the chief india economist at barclays. your forecast for these numbers was 6.2%. i want to ask you, why did you not see the recovery as robust? the 6.3% number is not any surprise to our forecast. the reason we were not too worried, e

michael bloomberg. this is to an extent, a bipartisan issue. i do want to ask you, are you about to have a further, further, you know, on the road to damascus kind of conversion. because you are passionate. saying all those things. but you yourself are not if mine from criticism. you were booed over an issue when you want off to the, climate conference where we spoke a month ago. people have criticized you, for not taking on the issue of fracking, and other such things in your old, own state. are you still haven't walked away from the fossil fuel industry. are you going to do it witness and for all? >> wait a minute. political life its not a , we have many points of view. it produce 30z% of the oil it uses. cut that become to 20%. then importing 80%. north dakota weaker, and, by train, dangerous, accidents. by ship from venezuela, saudi arabia, some where else. what we have to do is get the consumption of oil, going down. we are a net importer. whatever weave don't produce. we import from some where else. we have off to stop using the stuff. an

alix: michael purves is sticking with us. this is bloombergalix: this is bloomberg daybreak, i am alix steel. happy holidays, everybody. it is a quiet trading day in the u.s.. s&p futures flat, dow jones futures flat as well. the euro fell for seemingly no reason yesterday by about 3%. stronger, a tiny bit and a modest dollar strength story throughout the session as the yen is the weakest in three weeks. the treasury market, 10 year , around the highest level since march. spread, 56 basis points is how we trade. calm in the commodities market. bitcoin is up after the steep falloff we saw last week. now for an update on what is making headlines outside the business world, emma chandra emma:. emma: a bullish report on the chinese economy. china willys overtake the u.s. as the world's biggest economy by 2032 and three of the four largest economies in the world will be asian at that time, including china, india, and japan. china plans to cap the population of shanghai at 25 million by 2035. policymakers want to manage what they call big city disea

>>ill gates, -- mayor michael bloomberg were among those to atte governor arnold schwarzenegge also therend had harsh words for pren thrd. >> so when you hear people talk about the united states dropped out of the paris agreement don't pay any attention. the united states did not drop out of the paris agreement. donald trump -- donald trump dumped donald trump out of the paris agreement. >> he was not the first summit participant to criticize president trump's move. former secretary of state john kerry called it a self-destructive decision for political purposes. >>> secretary of state rex tillerson says the u.s. is willing to talk to north korea with no preconditions. his remarks to an international affairs think tank came two weeks after north korea tested a long-range ballistic missile that could possibly reach washington. the white house issued a statement saying the president's views on north korea have not changed, leaving it unclear if president trump agrees with tillerson. >>> and south korea is making sure that it's ready for the worst when the olympics come to town next year. >

also ahead, republicans near a vote on their tax bill-- we talk with michael bloomberg who has calleda trillion dollar blunder. >> congress is going to vote for

bloomberg this week. thank you for watching. i am michael mckee. n, and you are watching "bloomberg technology." let's start with a check of your "first word news." president trump continues to fund the government through december 22. the two week extension was passed last night. presiding over the ceremonial swearing-in of kirsten nielsen as secretary of homeland security at the white house today, president trump's praised statistics showing the declining rate of illegal immigration to the u.s.. nielsen's nomination was confirmed by the senate on monday. vice president mike pence administered the oath of office. nikki haleydor

at the forefront is billionaire businessman and former new york city mayor michael bloomberg.spoke about the dollars and sense of all of this in new york, along with carl pope. he's the former director of the environmental group the sierra club. and together, they have written "climate of hope". >> this issue, it is a local issue, much more than a national or a state issue. most of the people -- 50% of the public, maybe more -- live in cities. and that's where the pollution comes from because they're the ones that use the energy that the plants producing the energy put into the air. they're the ones that have to face issues like crime and education and traffic. economic opportunities are done at the city level. and so, in this case, because of that, the federal government has not really had much to do with america's success in reducing carbon in the air and greenhouse gases. the state governments haven't had much success. it's really been done by local governments, where the public can talk to the mayor or the city council directly and say, "clean up this air. i want it done t

former new york mayor michael bloomberg says the trump withdrawal from paris has been a rallying cry for others to act. >> we've already created this america's pledge where we're going to meet our agreements already without the federal government. but that's not to say that it wouldn't be better if he was on the right side of it. >> reporter: and getting the president to change sides is what emanuel macrone told jeff glor he's trying to do. >> i'm pretty sure my friend, president trump, will change his mind in the coming months or years. i do hope. >> glor: you think he'll change his mind? >> yes. i'm not ready to renegotiate, but i'm ready to welcome him if he decides to come back. >> reporter: the trump administration decision to withdraw from the paris accords has had another indirect effect. the decision was so unpopular and so isolating internationally, that other world leaders who may also not like the deal have been less inclined to, as the expression goes, do a trump. jeff. >> glor: mark phillips. thank you very much. last week, we showed you graphic video of a controversial

former new york mayor michael bloomberg says the trump withdrawal from paris has been a rallying cryor others to act. >> we have already created this america's pledge where we are going to meet our, our, agreements, already, without the federal government, not to say it wouldn't be better. >> reporter: getting the president to change signs is what macron told jeff glor he is trying to do. >> pretty sure my friend, president trump will change his mind in the coming monhs or years. i do hope. >> you think he will change his mind? >> yes, not ready to renegotiate. ready to work on him if he sides to come back. >> the trump decision to withdrawal has had another indirect affect. not all fish oil supplements provide the same omega-3 power. introducing megared advanced triple absorption it supports your heart, joints, brain, and eyes. and is absorbed by your body three times better. so one megared has more omega-3 power than three standard fish oil pills. megared advanced triple absorption. 60% of women are wearing the wrong size pad and can experience leaks discover always my fit. find th

is an important part of the economy that employs thousands of musketry as you know his like michael bloomberg for the economy of new yorkers and he's just a massive figure in jordan and palestine and he's the chairman of the arab bank there a bank is the bank that the jordanian government turns to it's a commercial bank and the jordanian government what it needs money in terms of the arab bank to get some advances. these detention follows a major anti corruption crackdown in saudi arabia which began last month around two hundred members of the royal family and businessmen have been implicated among those detained or eleven princes for government ministers and several former ministers it's thought many of them are being held at a luxury hotel in the capital riyadh several had their bank accounts frozen and were put on a no fly list they are the latest in a series of measures ordered by crown prince mohammed bin some months the thirty one year old heir to the throne is being seen as trying to assert his power shortly after the first arrests were made king someone been abilities all some announc

. >> you see michael bloomberg, the liberal in new york. spending money to stop this legislation.ave officials saying that isis wants us to pass this bill. it makes you shake your head in wonder. what kind of world do they live in because we are talking law-abiding citizens. texas and florida showed off duty police officers commit crimes and carry holders. we are talking about law-abiding people. they would like you to believe their rhetoric. and somebody contemplating and committing armed robbery. and the potential consequences, the fact that they conceal that gun, it doesn't make sense. >> shannon: do you think you have democrats that will buy into this? >> there's a number of democrats i plan on voting for the bill. and in the senate, there are long champions of this issue. and he had this on the senate floor. there seven democrat senators and five of them having to be up for reelection. and we would need eight democrats. we will see. >> shannon: all right, thank thank you for coming on. we'll talk more next week. >> 73% of the american people wants this to pass the pole show.

michael bloomberg has been envoy, as a special mobilizing cities around the infrastructure eco-friendlyconcerned about the u.s. president has announced to withdraw. at the same time, there is room for optimism. there has been ground support from grassroots of the american , including major states like california, washington, oregon, and massachusetts, who are joining in the campaign for climate change. than u.s. cities and more 1000 officials are in the organizedd having campaigns. this is a source of optimism. leadersame time, world should send a strong message to the people to make our economic operations more ego friendly. isrry: president trump sending a strong message when he recognized jerusalem as the capital of israel and planning to move the embassy there. we just heard from the u.s. ambassador to the u.n., nikki haley, talk on fox news yesterday about how israel bashing in the un's security council has been a problem to take a listen. to treat palestinians and israel he's fairly. we hope they both come together for a peaceful solution. we do to support them. it is starting now

. >> still ahead, we have new jersey nlk governor chris christie, michael bloomberg, senator claire mchaskellus, nicole wallace. a and, donny deutsche is here. look out. just stay in the mug. ( ♪ ) ♪ one is the only number ♪ that you'll ever need ♪ staying ahead isn't about waiting for a chance. ♪ because one is... it's about the one bold choice you make that moves you forward. ♪ ...that you ever need the one and only cadillac escalade. come in for our season's best offers and drive out with the perfect 2017 cadillac escalade for you. get this low mileage lease from around $899 per month. ( ♪ ) from around $899 per month. if yor crohn's symptoms are holding you back, and your current treatment hasn't worked well enough, it may be time for a change. ask your doctor about entyvio, the only biologic developed and approved just for uc and crohn's. entyvio works at the site of inflammation in the gi tract and is clinically proven to help many patients achieve both symptom relief and remission. infusion and serious allergic reactions can happen during or after treatment. entyvio may increase risk o

this is what michael bloomberg said in a piece. calling it a trillion dollar blender. saying "ceos are not waiting on a tax-cut to jumpstart the economy. this is fantasy to think that this will significantly increase higher wages and growth. congress did what it always does and put politicians first. they claimed to have more than 100 professional staffers working around the clock and if true, their hard work must have been suppressed. it's fantasy to think it will grow. the one-page analysis treasury released except the white house's ability. " guest: there are several things that help with job creation. we have small business expensing so in the united states today, when you invest in a new plant or equipment, it depreciates and you don't get your money back through that time. million on new trucks for your company, your -- if makes that the investment less expensive than if you had to wait over 10 or 20 years to appreciate it over time. it makes investing with job creation less expensive to do the same thing. ,nd when you earn $100 today the government takes $35 of

it's why michael bloomberg will be eminently qualified, didn't do it.t's why a lot of you probably haven't done it. i also think, by the way, this collaboration, what you hear today is this constant, you know-- "get the experts out of the room. we've heard that before." we need policy. thoughtful people. we need analytics. we need it done right, we need to do it together. a hundred and forty-five million people work in america. hundred and twenty-five million work for private enterprise. you-- the government can't fix all these things itself. when they act like government's the only solution, i remind them of the post office, of veteran affairs, the department of motor vehicles. matter of fact, the only thing they do really well is the united states military. [audience applauding] and-- so-- collaboration works. and you go-- if you buy-- if you go around the country, it works in e-- all these cities, all the states. you know, to-- it's here. for some reason, we just get bogged down. it's just-- maybe just too complicated for mankind. david: so do you th

alix steel spoke with lloyd blankfein and michael bloomberg to examine the merits of bitcoin and therency. >> first of businesses and businesses in general come when did they have to have a bitcoin strategy? >> not in our lifetime. >> for real? >> forget whether you think it is a fraud or a game or tw ulip bulbs or not. figure outhave to how they're going to sell the product, keep the door open, cleanup at the end of the day. small businesses are where the rubber meets the road. they are not dealing in transactions, but creating products people want to buy. it is one person selling to one person, much more so than the things we talk about. you have not rejected or endorsed bitcoin, but when does goldman have to have a bitcoin strategy? not today. >> win. >> life must be rosy if this is what we are talking about. not today.lking >> yesterday and one person a coleman said the only thing people are asking him are bitcoin -- >> i am thinking about it because i get asked about it. where i am is is it is not for me come up but there are a lot of things that weren't for me in the past that

joining us now from tel aviv is bloomberg's michael arnold, bureau chief for israel and the palestiniantories. , the head of the national security team at bloomberg news. michael, let's start with you. how is this news being received in israel? michael: people here are on tenterhooks waiting to see what the president will say. we know he is likely to declare that he recognizes jerusalem as the capital and he intends to move the embassy, but that is a very ambiguous statement. intending to move the embassy could mean next week, next year, 10 years. the exact content of what he says will be crucial. also for the palestinians, because record i think jerusalem as the capital does not necessarily mean he is invalidating palestinian claims. the wording of what he says will be key. vonnie: exactly commend a similar sum is also more interesting than the actual substance of what he says -- exactly, and the symbolism is almost more adjusting than the actual substance of what he says. there was only two countries and the whole world that recognize jerusalem as the capital. it is the purview of the

steve: michael bloomberg said this and appease. he is calling the tax piece a trillion dollar blender. waiting on a tax cut to jumpstart the economy or handout raises. it is. fantasy to think that it will lead to higher wages or growth. he says that congress did what it always does -- but politics first. the treasury department claimed to have staffers on hand. if that is the case, they must of been hard-pressed. what was released is a politically driven document that amounts to economic malpractice, and so does the bill itself. bloomberg's criticism is nonsense. there are two things that helped on job creation. several, really, but two big ones. full business expensing. in the united states today when it invest in a new plant, depreciates over 10, 20, 30 years. you do not get your money back. if you spend $1 million on new trucks for your company, you do not pay taxes on that million because it is nonprofit. -- it is not profit. you just spent it. and you do not have to wait 10 or 20 years for to appreciate. it makes an investment

but one high earner in a high-tax state, a guy named michael bloomberg, says companies don't need bigs the tax bill a trillion-dollar blunder in an op ed. he writes that ceos aren't waiting on a tax cut to jump-start the economy and that it's "pure fantasy" to think that the tax bill will lead to significantly higher wages and growth. he says he's a friend of gary cohn, who is one of the chief architects of the tax reform effort, and he says his friend, gary cohn, is wrong. >> what steve mnuchin doesn't say about high-tax states is those are also blue states, so that's an easy political move for the administration when they're not jeopardized at all. >> this is true. this is true. and look, when you look at this tax bill, it really benefits real estate developers and investors like the triumphumps kushners, and that's part of the controversy as well. we don't have the president's tax return, so we don't know how the president would stand to benefit, but many tax scorers say this is very good for the trump family. >>> in california, intense winds whipped the huge thomas wildfire along

. >> i am sure you have heard m michael bloomberg is listing education, intpau strbg khur, wages, healthcurity as all areas that are going to suffer. an infrastructure investment, does this tax bill make that tax bill all but impossible. >> two things. mayor bloomberg is not the be all of knowledge, if you will. the tax bill assumes economic growth, so there's rosy scenarios there, but the economy is did ai is doing well. the president, when he speaks to the country at the end of next month, january 30th, he will talk about infrastructure. he will challenge the american public and also congress to pivot to a strong robust infrastructure plan that helps our roads and bridges and so forth. based on what i read and what i am hearing from the white house, the president is moving forward with the even tpinfrastructure. you can't outsource those jobs and those are american jobs that could boost this economy even more. >> can you give me yes or no answers and avoid a maybe in terms of predictions. does the bill pass, robert? >> yes. >> adrian? >> yes. >> there you go. agreement. we will call it

. >> here's what michael bloomberg put out. >> republicans in congress will have to take responsibility for the bill's harmful affects, and trump is making the same mistake that barack obama made in his first two years in office, believing his party's congressional majority gives him a license to govern without the other side. the tax bill is a blunder that will harm our future. >> the comparison to obama is not new, but it certainly does have the air of an echo to it. you look at what happened in 2009 and 2010, democrats lost places they should have won n. this case, massachusetts, and then they ram through legislation down a party line basis. we have seen this movie before. what is different and why republicans should be more concerned than democrats were in 2010 is trump is more unpopular than president obama was then. a good chunk of the country is eager to vote against anybody they see as supporting this president, and so if i am a republican going into next year's mid-term election, i would be concerned about this landscape. >> i will give it to you as a choice here, josh. who do

michael bloomberg calls the bill a trillion dollar blunder writing that ceos aren't waiting on a tax cut to jump start the economy. >> let's bring in our congressional correspondent for the washington examiner. good to see you. >> good morning. >> we will get into the details of this bill, but when you take a step back, 2010, democrats rewrite, overhaul our entire health care system with the highly unpopular bill. nancy pelosi didn't know what was in it. seven years later republicans rewrite the entire tax code rushing it through even faster to give the president his huge christmas gift. is this the new norm? >> it's like deja vu all over again. i think this is the political norm of the era that we're in which is big things only happen with partisan majorities along partisan lines and that makes it very difficult politically to sell these things because you already have ain our divided political culture, half the country predisposed to oppose something both on philosophical grounds and just on oppositional grounds. if you're a democrat you don't like republicans, you're not going to

he and former new york mayor, michael bloomberg, led a delegation of mayors and legislators representingnomy. while the official u.s. delegation, sent by the white house, showed up to promote coal, brown went to tell the world president trump doesn't speak for all americans. >> jerry brown: california is not waiting for trump. we're not waiting for all the deniers. >> whitaker: he's already weaning california off fossil fuels. to give us a glimpse of the future, brown took us to this 62-acre solar farm near sacramento on the site of a decommissioned nuclear power plant. you said that you want to have 50% of california's electricity generated by renewable sources by-- >> jerry brown: by 2030. >> whitaker: 2030. and you-- >> jerry brown: and i think-- >> whitaker: --think you're going to beat that? >> jerry brown: yes, no question about it. >> whitaker: with the federal govern s climate action, california is blazing its own trail. what can you, the governor of one state in the united states, do to fill in the void? >> jerry brown: as governor of california, we have a cap and trade system,