turning is not to discuss the prospects tax reform, the secretary of the treasury, steve mnuchin. mr. secretary, i want to start with democratic criticism of the tax plan. in this case by house leader nancy pelosi. >> they throw a scrap to the middle class provide a banquet for the wealthy and corporate america. transform america in doing so, you will not let that happen. >> secretary steve mnuchin, where is congresswoman nancy pelosi wrong? >> i just fundamentally do not agree with her. this is about making the business tax assistant competitive which is about creating jobs. is it a very significant middle income test. that is what this is about. >> look at the analysis on a bipartisan joint committee on taxation. here is what they said about the house bill. they say delivers 80 percent of its cuts to corporations, businesses and wealthy families. this is not a democratic partisan. this is the congress is on joint committee on taxation. >> chris, the numbers are very complicated. it depends on how you allocate them. one of the things they're doing is taking the pass-through alloc

david: we are to hear steve mnuchin, the treasury secretary. they are about to meet with senate leaders. let's listen in. [shouting questions] david: just want to explain what is going on. now the press is being escorted out. what is happening steve mnuchin, gary cone, who is the national economic counsel cleave -- gary cohn, and senate majority leader mitch mcconnell and other big leaders of the senate are meeting now to discuss whether the senate plan, had all the cuts, all the simplification, was boiled down into the house plan which it was a lot less simple and a lot less supply side oriented, now goes to the senate where we're hearing it is being watered down to all kinds of ridiculous levels. that is where melissa picks it up for us. melissa: the swamp just completely taken hold of this plan, and turned it into something is it wasn't. what kind of postcard can you put seven brackets on. simplifying from seven to seven. thank you. david: no simplification. the delay in the corporate tax cut. usually a delay in any kind of tax -- melissa: l

journal several months ago, when powell's first tipped to be the favorite of treasury secretary steve mnuchinn was quoted as saying that he could control powell. you wonder what that means. does leave powell with a bit that he will be doing the administration's bidding. that will be important if they get tax cuts through and questions raised about how hard leaded could or should again. of theremind us relationship that powell has with people like mnuchin, for instance. are they supportive of this? >> mnuchin has been powell's chief sponsor in the administration. he's also well thought of by most of the people there. he's a moderate republican but has experience in washington. he worked as the under secretary for domestic finance and the treasury department during the first george bush administration, george h.w. bush. he's done a lot of work in washington and he knows a lot of people there. with the administration and with members of congress. i am wondering, in the midst of all this, what does the rest of the makeup of the fed look like? wouldn't, you presume, be sticking around to be vice c

. >>> still to come, funny money, steve mnuchin and his wife light up the media again, this time posingh dollar bills. i wanted to be clear. i wanted it to last. so i kept on fighting. i found something that worked. and keeps on working. now? they see me. see me. see if cosentyx could make a difference for you- cosentyx is proven to help people with moderate to severe plaque psoriasis... ...find clear skin that can last. don't use if you're allergic to cosentyx. before starting cosentyx, you should be checked for tuberculosis. an increased risk of infections and lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms. or if you have received a vaccine or plan to. if you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen. serious allergic reactions may occur. never give up. see me. see me. clear skin can last. don't hold back... ...ask your dermatologist if cosentyx can help you find clear skin that lasts. >>> here's a look at today's forecast in some cities around the country. ♪ >>> well, pictures of treasury secretary

treasurye with the secretary, steve mnuchin, is next.erg. ♪ rishaad: your back with bloomberg markets. secretary. treasury stephen mnuchin says he cannot rule out a delay to the proposed corporate tax cuts. the senate is said to be considered weighting of two-year to lower the rate to make it work for overall tax reform. -- he warned it could hurt the economy but admitted a delay is possible. strongpresident preference, he feels strongly he wants to start this right away, but having said that, we will have to look at the entire senate package. i assume it is really just a money issue as to how they are moving the different pieces around. it's not a philosophical issue, i'm sure they would like to start this as soon as they can. >> the ways and means committee that if the excess ties provision. it makes another $74 billion hole in the package. how do you will that? think are going through a healthy process which we started getting the house and senate and the administration on the same page, so the fundamental goal and parts of the bill,

>> we see more involvement from gary cohen and steve mnuchin, they been actively involved. the prisoners were corporate tax policy than he was with the repeal effort. white house is more involved so to make it pass both chambers we've seen the president tweet out certain ideas we can expect that to continue, to the fact that will have on the decision republicans have on the hell is unclear. it's about getting the majority of a votes. >> covering it all is ryan, follow his reporting that ryan mccrimmon. >> tomorrow, an update on the economy. this will be her last appearance be for the joint economic committee. i live coverage begins at 10:00 a.m. you should not spirit to. >> join us for american history tv, saturday at 3:00 p.m. in honor of the 50th anniversary of the 1967 broadcasting asked they hosted a discussion about news and public -- at 8:00 p.m. eastern university of kansas on the role of african-american and how churches help them gain. recollections of the battle of midway from world war ii navy veterans. unreal america of the film dreams of economy american histor

that picture of steve mnuchin summarizes the administration for this reason only.fighting for, what they have done, does not benefit the people who voted for them. it benefits the wealthy. it benefits the elite. the tax reform plan they've passed also stripping the individual mandate out of obamacare if it goes forward. look at this, repealing the estate tax, delivering multihundred thousand dollar tax cuts for people who make over $800,000 -- >> look at carried interest for private equity, real estate -- >> it is not optics, it's rea a reali reality. >> stephanie. >> last point, john. >> it also goes to the caliber and the judgment of the people the president appointed. when have you ever seen tim geithner's spouse or larry summer's spouse or paul o'nei o'neill's spouse vamping in front of the camera in the way that louis linten louise is doi that and why secretary mnuchin allows that to happen is a mystery to me. >> how damaging it is for americans who vont gotten a raise for ten years. we'll leave it there. >>> a group of bipartisan senators unveil a gun control

steve mnuchin also in washington with headlines at the corporate tax rate of 20% will not change as aompromise between house and senate. listen. >> it's not going to appear this is one of the things the president feels very strongly about. 20% when we came on the degree to 20% we made it clear 20 is 20 and that is not negotiating to kauai. gerri: 20 is 20 as the senate finance committee works its way through a number of amendments submitted by committee chairman orrin hatch. >> carville in democrat calling this the most popular retirement savings programs, 401(k) and individual retirement accounts in place. lauren: people over the age of 50 would no longer be able to make a contribution on a pretax basis to their retirement plans. basically, anything after the 18,000 legal limit you to pay taxes upfront on. president trump excited to be heading home to see a great tax bill at the middle class getting big tax cut. make america great again. the house to pass their version of the tax bill on thursday. gerri: attorney general jeff sessions open the door to a special counsel to examine the

and steve mnuchin responds to criticism over dollar photo that went viral. those stories and a check on weather when we come back. > >>>. ♪ ♪ ♪ ♪ >>> that was "saturday night live" channelling boise to men this weekend with a song come back barrack. >>> potential for travel plans getting interrupted. feels like the 20 in pittsburgh, detroit. freezing in new york city. winds over the weekend not quite gone yet. strong winds throughout the morning today. may cause airport delays. afternoon expecting strong winds. it's cold as well in the south. freeze warning for atlanta georgia. despite the fact your highs today will get up to about 60 degrees. the windchill at this hour is 27. so that is really cold for the south. and back to areas of the great lakes in skprt eaand northeast. wanted to show you snow. light snow falling in syracuse at this time. winter is almost here. speaking of that, flurries across much of the great lakes with the cold air coming in behind the front. even though it's so mild it will be getting a little cooler, also look for strong winds be

steve mnuchin. explain what you found.f steve mnuchin, it is interesting that his former bank, the cit bank, they they help the customers to set up structures when, for example, they bought airplanes to set up structures to avoid taxes. in this is things we've seen many cases. and we have already cnet millions of dollars of taxes are avoided with these structures. and given the fact that nearly every country in the world needs money, needs tax money to basically keep up infrastructure , universities and schools running, i think this is something the public should be well aware of. that the trump administration, there are many people with offshore ties. this is something they should have a close look to. amy: and very quickly, the companies like apple and others, what role the paradise papers exposes them playing? show thatadise papers those multinational companies are looking to finind always a loopophole in the global tax system. so when one is closed, they try to find another loophole. they try to keep their taxes as low

steve mnuchin on the right. ndraiser on the trump campaign, no public service record, wealthy in california on the financial collapse. on the eve of the don't think about rich people republican tax vote tomorrow, secretary mnuchin posed for photos holding sheet of money because he's proud his name is on the money. brought along his wife who helped hold the money wearing ankle-length, black leather opera gloves. i've had the picture up for a long time, partly because i can't help it. there's one other angle the associated press photographer provided. this is maybe even better. guy in the back who looks like doug stamperfrom "house of cards" is peering around, seriously dude are you holding up pinky while displaying sheet of money? do you know there are photographers here? look on his face is everything you need to know about how well the trump administration is managing the rollout of big don't think about rich people tax plan being voted on tomorrow. dude, your pinky. polling on the republican tax plan is exactly

expect great savings and a whole lot more. >> neil: moments ago, steve mnuchin and the economic team of president trump ready to rumble now. the senate plan is out. it's ready to be compared, contrasted and fought over with the house. steve scalise telling me moments ago, let's do this. >> congressman, welcome. everybody wants to know, it's the subject of the moment, who won that scooter race between you and congressman sam johnson? >> well, sam johnson is a friend. he's a war hero. he was an air force pilot. he had after burners on that scooter. he just took off. i had no shot. you know, it was -- it was a fun time. but we're going to miss him when he retires. what an american hero he is. >> neil: 87 years young. it was meant to honor capitol hill police. had a serious intent. you ever look back and when you saw them being recognized what could have been? >> you just look at what happened at southerland springs. it's a horrible tragedy. our baseball practice could have turned out the same way if we didn't have capitol police there. rights away we engaged the shooter and stopped him f

nonetheless, a lot of jitters out there after treasury secretary steve mnuchin steve mnuchin

joining us, steve mnuchin. good to see you. thanks for joining us. i want to get to taxes in a moment. first i want to ask you about russia. after president trump made his initial comments about vladimir putin and u.s. intelligence agencies, republican senator john mccain tweeted this. quote, there's nothing america first about taking the word of kgb colonel over u.s. intelligence agency to prop up murderous assad regime is my avenue and places national security at risk. you heard general clapper and director brennan saying that they think that president trump is being played by putin. what's your response? >> well, in all due respect to your previous guests, i think those were the most ridiculous statements. president trump is not getting played by anybody. president trump was focused on some very important issues, which are north korea and syria. and those are areas we need to work together with russia and get them on board with our strategy. >> but why not definitely come out and say, i think that russia -- i believe the u.s. intelligence agency,

steve mnuchin touring the u.s.f engraving and printing to see the first one dollar bills with his signature on them. one photo of the event has everyone talking. take a close look. that is steve mnuchin and his wife. twitter going crazy over her expression. and that black leather glove. they have been repeatedly criticized over bad optics. like over the photo stepping off a plane with the high end designers she was wearing tagged in the photo. larry: you know, for the christmas picture? autria: perfect. and that leather glove. veronica: she knows how to strike a pose. autria: every photo is like a photo for vogue. veronica: this is my good side. larry: it is warmer this mine. veronica: 10 to 15 degrees higher than this time yesterday. area thiss the morning. only a few locations in the 30's. the bastad forecast not bad at all. i recess, 56 degrees. bus stop forecast not bad at all. by recess, 56 degrees. week, friday, or the end of the week your, friday, close to 60 degrees. we will pick up some clouds. rain by sat

tonight is steve mnuchin and bride hold money night, which means the vote on the republican tax bill is tomorrow in the house. don't think about rich people. outside of republicans in congress and the donors that are most important to them, this bill doesn't have a lot of friends. lots of different types of people have reasons to be very strongly against this. for example, anybody with health insurance. anybody who only got health insurance because of the affordable care act. all middle class people. all stakeholders from one side of the spectrum to the other in the health care field, including doctors and hospitals and patient groups, everybody. even teachers who have to buy school supplies for their classrooms and any american who likes teachers for doing that. i know democrats are all against it. i know republicans are largely for it. i don't know what the battle plan is to try to boat it or what's really expected to happen next here when this vote comes up tomorrow. but senator elizabeth warren joins us live next. in every town, across america. small businesses show their love to

steve mnuchin will join bloomberg.t to hear what he has to say about what is going on in washington right now. of next, mid-cap movers for you. this is bloomberg. ♪ guy: 25 minutes into the cash equity session in europe. let us find out what mid-caps are on the move. games andsoft makes it has hit a record high a the most since july. first top revenue beating estimates. it is too early to raise the guidance despite the jump in ises because the company still at the launch of origins. the launch could be what ubisoft needs to fend off -- renntag, and rub they beat. dropping the most since june through this company offers armored car services. learn toext, socgen code. what banks are doing to keep up with the disruptors. interesting to see what deutsche bank is saying on the subject as well, and how this is going to impact staffing going forward as the world's biggest bank. that conversation, next. this is bloomberg. ♪ who knew that phones would start doing everything? entertaining us, getting us back on track, and findin

joining me with reaction to the plan, treasury secretary steve mnuchin. good to have you here, sir. >> good to be here with thank you. trish: what do you think? the senate came forward with their ideas. what is your sense of it? >> first i would like to say we couldn't be more excited about the process and we are on track to get something to the president to design in december. we've been working all year in the leadership with the house and senate. everybody is really on the same page. there are some minor differences between the bills, but we're very pleased with the process and how it is moving forward. trish: they have got seven brackets. adam shapiro is reporting that seven brackets in the senate plan, which you know, i know you guys didn't want that, you wanted people to do this on a postcard very simply. so is this something that you think needs to get amended? >> i think that the good news is both the house and senate have the same exact objective, which is to get middle income tax cuts. that is what this is all about. so, we'll reconcile the diff

steve mnuchin has been in a business that you can sell an then leave.leaders in government understand the lasting effect. bob corker said that the treasury officials came to see him in june and they said when we have this thing done, we're going to show you how it gets paid for. yet when they met with him this week, he said he has seen no modeling. how is it that republicans are going to push this thing forward when they don't understand how the pipes work? >> look, i find the degree of irresponsibility stunning. the secretary of the treasury went to "the wall street journal" council conference a week or two ago and said there's a treasury publication documenting his claim that revenues would be increased. journalists, others, myself, have requested that publication. there is no publication. there's a lame reference to a cea publication that is shot through with error. look, the reason -- the reason the analysis is so bad is that the conclusion is so absurd. look at the most recent example. a group of republican economists sent a so-called letter, open

steve mnuchin is not laying out how it's paid for and we are still in the dark. remember if the deficit balloons, that will have damaging effects across our economy. >> absolutely. for middle class people. could still stay. and one of the deductions turning into a big thing is the schools supply deduction. something you don't hear a ton about but teachers use it because increasingly teachers have out of pocket expenses. the house bill gets rid of it entirely doubles it to $500. it's unclear what's going to happen to this. >> the reason teachers have to buy these school supplies is because state and local budgets have been cut. school boards year in and year out were seeing budgets get cut. so they don't have art courses, music courses so teachers have to buy the supplies. >> and we've got medical expenses. this is another big one. you don't deduct your medical expenses unless you have a lot of expenses. this requires a high bar to even take. so he house eliminating it is going to hurt the chronically ill, those with disabilities and others hard hit. the senate ke

host: steve mnuchin was on yesterday talking about -- was on cnn, talking about what would happen if it goes through. here is a look. >> middle-class voters who voted for president trump who will get a tax increase in this plan if it becomes law -- that is not what they were told by candidate trump would happen. >> it is not what he wants. as we go through both of these plans, the house, i expect, will pass their bill this week. the senate will end up in conference and we will fine-tune this. the problem is that the tax code is so complicated that everybody may take advantage of a different piece. we want to make this simple and fair. i am comfortable we will do that. ask are you comfortable saying that you want this to be fine-tuned and changed so any middle-class americans who would have their taxes increase -- which is a minority but it is a chunk of middle-class americans -- that he wanted fixed before trump signed it into law? >> there are slight differences between both bills. the good news is that the house, senate and administration have the same objectives about middle incom

jillian: steve mnuchin, very funny stuff. >> steve mnuchin and his wife visited a facility, this is prettyllar bills that bear his signature, but a picture, went totally viral, a serious -- the poster for this has -- and is going to be awesome. and a sheet of dollar bills with his name on it. >> pretty serious. >> what do you know? rob: i don't know anything but very pretty in my photo. it is very serious. >> joe scarborough, host of msnbc. >> a lot of people in the media criticize donald trump never heard anybody sing that criticism before. joe scarborough releasing a trump inspired christmas album called a very trump christmas. this is the album cover right here. here is one of the reportedly race with you can save our christmas from going kerplunk from that orange creep children call t theh drumpf. three track on this album. an idea for you guys. rob: not a traditional rockstar but he is trying. jillian: 27 after the hour. russia dominates the headlines, jeff sessions reminding the country about a real threat to the american political system. >> 27 investigations open today, it has reac

in an exclusive conversation, steve mnuchin discussed his support for tax cuts. >> our strong preference is that the corporate tax rate starts next year. we look forward to working with the senate as the details come out. >> federal judge has issued a gag order in the paul manafort case. the judge has part all parties from making statements to the press or public that might influence a jury. thanl news powered by more 100 to journalists and analysts in 120 countries. this is bloomberg. 30live from new york, we are minutes from the close of trading here in the united states. after theixed even surge in tech stocks earlier. >> the question is, what did you miss? >> the china -- in washington, the spotlight is on the senate. republican senators expected to reveal their bill tomorrow. machineca's drilling keeps on rolling. production rising over the next few years within that look on the industry. theonald trump touring urban city, but the president is hoping to come with more than just a visit. whiteill be a test of the house is economic security promises as president trump pressures china

state and local tax deduction and now puts a big burden on the constituents, treasury secretary steve mnuchinaying the plan is designed to help middle-class americans by sparking growth down the road. >> what i do know is we think this is going to create growth and we'll know by then whether this creates growth or not. if it does create growth we will have an incredible economy and an incredible tax system for businesses and creating huge amounts of jobs. if it doesn't, congress will deal with at the time. >> it turns out the taxpayers than most states do take the state and local tax deduction. john faso, republican of new york, one of those who voted against the bill. good to see it. >> thank you. nice to see you, too. this bill just affects the states like new york and california, but if you actually look at the fact that turns out not to be true. >> many people across the country take this deduction for 114 years it's been in the federal income tax system. on january 1, if this legislation passes the way the house passes, a lot of people come in many thousands of people in new york state w

gary cone and steve mnuchin, the treasury secretary, have been on the hill meeting, pushing some ideas, and president trump himself has been, as we've seen, tweeting out ideas through the process about essentially policies that he wants in or out of the proposal, and he's sort of also just been rallying senators from the sidelines. he was on the hill earlier this week to rally support for the bill. so they have been involved and expect them to continue to be involved. host: at this point, how are democrats playing out this process? guest: well, they're expected to be unanimously opposed to the bill. they see it as essentially much more favorable to large corporations and wealthy taxpayers than average americans, and we've heard a lot of fiery debate so far, and it's not likely to see any democrats peel off and support the plan. host: ryan, who reports on appropriations and tax matters for c.q. roll call joining us. his latest story looks at the procedural matters and the process that plays out. you can see it for yourself when you watch at c-span2. ryan mccrimmon, thanks for your time.

of one west during part of that crisis was the person who's now secretary of the treasury, steve mnuchin. he was the head of one west during the foreclosure crisis. during that time, one west had what many have called a foreclosure machine in place. and mr. otting, who is going to be in the, the head of the o.c.c. and who we would hope would be more independent as required by the charter of the o.c.c., he was there working for the secretary treasury, steve mnuchin, at one west. and mr. otting was there working at one west when the bank foreclosed on nearly 40,000 americans. and one west received more than $1 billion in taxpayer money to cover one west's losses. those are exactly the kind of losses that we're trying to avoid in the aftermath of the crisis, that we're trying to avoid by adopting the wall street reform bill, dodd-frank, so that taxpayers, our constituents, aren't left holding the bag for decisions made by people like mr. otting and mr. mnuchin. according to one media summary, one west bank, quote, rushed delinquent homeowners out of their homes by violating notice and waiti

earlier this year treasury secretary steve mnuchin suggested that we need to repeal salt to stop subsidizing states. mr. chairman, i have never heard anything as stupid from any treasury secretary in my life. how much jersey pays and sends to the federal government which is our obligations and responsibility, and how much we get back, pales to what -- >> mr. chairman, i move that we take down mr. pascrell's words about our treasury secretary. >> mr. pascrell, could i just remind you this is. >> this is not off my time, rig right? >> right. just color close to the lines but don't cross the lines. >> thank you, gentlemen. >> i'm not crossing the lines. anything like that is a harmful to my state, that statement, that state of west virginia or any state, god bless west virginia, i love west virginia, subsidizing the state of new jersey or connecticut or new york is absurd, mr. chairman. and he said that on the record, and i want to correct the record. that's the first time i ever heard anybody in the federal government, democrat, republican, independent, ever say that. and i'm annoyed. and the

that is what the house bill allows. >> the president said if anything goes wrong, i will blame steve mnuchine president called you? mr. mnuchin: i have spoken with the president many times. we are comfortable with being accountable. it is the president's most important domestic agenda item and we will get it passed. michael: when will you get it passed? mr. mnuchin: the goal is to get into the president's desk in december to sign. ♪ ♪ rosalind: you are watching "bloomberg best." i'm rosalind chin. earning season is winding down, but there are plenty of companies releasing quarterly reports this week. let's begin with results from disney. ♪ >> disney reporting fourth-quarter earnings showing the first drop in annual result since the financial crisis. profit dropped 1.2% to $1.24 billion, suffering from the weather hurting themepark tickets. disney also reported $140 million drop in income from investments citing higher losses at its streaming unit and hulu. >> the core network continues to struggle with some of the industry. one could argue that disney with espn at $7.5 per subscriber is most

. >> we'll have an exclusive interview with the secretary of treasury steve mnuchin. the house passed the tax bill this week, goes up right after thanksgiving, i think it will be a little bit like obamacare repeal and replace. several republican senators holding it hostage. trying to demand little bit more in this and that area and it will be a close call, we'll talk to steve mnuchin about why he believes it's good both for american corporations and american middle class workers. and we'll talk to him about some of the -- some of the analysis which say not necessarily so. >> you can watch chris wallace exclusive interview on fox 5. >>> coming up next on fox 5 local news news jewelry heist caught on camera. why officials say this is not the suspect's first time doing this. plus, it's out just in time for the holidays, the brand new call of duty game. but some are sounding off on social media saying there's a scene they find racially offensive. . >>> lending a helping hand, do you recognize that woman? that is the mother of a mega super star, she's offering healthy choi

treasury department with secretary steve mnuchin on bloomberg television and radio worldwide, also on terminal. thank you for joining us. bad news in the headlines this morning here at republicans did not do well in the off year elections. given that a lot of people told exit polars they did not like this health care reform and when you go in with less than 50%, does that change your strategy? sec. mnuchin: not at all. i am not concerned about that. there is big concert -- support for middle income tax cuts and making our business tax system competitive with the rest of the world. that is what this is about. michael: the senate is apparently considering a one-year delay in implementing corporate tax cuts to make the math work. is that acceptable to the administration? sec. mnuchin: our preference is that the corporate tax rate starts next year. the longer we wait, the worse it is for the economy in making companies competitive. michael: but you do not rule it out? sec. mnuchin: the president's strong preference, he feels strongly he wants to start this right away but we will have to l

steve mnuchin. nice to see you again. you for your time today. >> good morning, great to be here with you. >> bill: lead question, this poll, when asked only 16% of americans believe that this plan would actually reduce their taxes. 16? why is that? >> i can't comment. i don't know who they polled and how they calculated that. i can tell you virtually everybody in the middle class will get a tax cut. and will get a significant tax cut. >> bill: even if i doubled it to 32 that would only be a third. >> again, i don't know why the polling -- we'll look at other polls and come back to you. i can't comment on that one. again, this is a tax plan that cuts middle income tax, 1,000 or more on something people are excited about. >> bill: a lot of it is being sold to corporations it's a good thing for america. gary cohn was out with an event with the "wall street journal." this is the question. watch for the answer. >> if the tax reform bill goes through do you plan to increase investment -- your company's capital investment? a sh

some comments steve mnuchin touches a $1 bill for the first time. i found the perfect floor matt. now, the new york post was more direct in criticism with the headline, tone deaf mnuchin pose for money shot. >> i think mnuchin is worth $300 million or is something. >> the picture of his wife holding that. >> i think there was a pose there for sure. >> yes. >> everybody, still ahead. grave new details of the deadly mass shooting in northern california are police are searching for a motive there. >>> plus horrifying scene as the police officer responding to a call is engulf of mexicoed innen explosion. that dramatic video plus bill karins back with us. more on a storm system making quite a mess for some parts of the country here. our recent online sales success seems a little... strange?nk na. ever since we switched to fedex ground business has been great. they're affordable and fast... maybe "too affordable and fast." what if... "people" aren't buying these books online, but "they" are buying them to protect their secrets?!?! hi bill. if that is your

he's been a very big critic of steve mnuchin. we're going to hear from the vice president all in an effort to sell tax cuts. >> neil: all right. republicans in washington, i want you to listen to this. a gop fund raiser noting very wealthy republican donors are saying taking a hike if they get a tax hike or even worse. wealthy voters that turn out in big numbers end up saying we're not going to vote for the democrat. we're just not going to vote at all. how is that? gop fund raiser extraordinaire, i spoke with a few. they're angry, upset not being included in an across-the-board tax cut. they're not happy. >> you know, not only have they been suffering from nothing getting done, now the thing that may be getting done are going to hurt them. so they're not real -- the job creators, they're not very happy right now. i feel their pain. i feel their pain. >> neil: but you see them closing the checkbook as a result? would they do that? >> no. what is happening on the ground with some of the donors that ideal with, fortune 500 donors,

publicly, treasury secretary steve mnuchin telling our very own michael mckee early this week in a bloomberg exclusive interview that they would be ok, suggesting that would be ok, these, with some of differences being proposed in the senate version, but whether or not we can get to a point of reconciliation by the end of the year or early calendar next remains to be seen. heard thathave also the senate will keep seven tax brackets, as well, kevin. we are also hearing the obama individual mandate is being considered. they are waiting for the joint committee on taxation to delhi house ways and means committee -- to tell the house ways and means committee. so we may find out today what is included in these bills and what is excluded. kevin: i spoke to several sources in the past week who health, vonnie, should care get entangled in a tax, you could almost make a certain that that that would prevent certain democrats for being able to participate or get on board with the version of the bill. i spoke with steve bannon, now outside of the white house, part of a conservative advocacy group, who sa

david: treasury secretary steve mnuchin is pleased the way it tax reform is shaping up but is everyoneppy? steve forbes, forbes media chairman, one time presidential candidate and once push ad flat tax. we're getting about as far a way from a flat tax, but first to the notion, steve mnuchin is pleased i'm sure you are not? >> that is washington's version of whistling past the graveyard. it is david, a betrayal of president trump. the republicans should have simple tax cut, if you were not doing a flat tax. instead of doing all these things they got everyone upset. go back to the basics. do corporate rates. personal side across the boards make it effective immediately. come back some other day. david: is it possible to do that? possible for the president to come back from asia, this thing is total mess. we'll not have the same wipeout with the health care reform. start over. do a simple tax cut plan, get it done quickly. is that possible? >> i hope he does being away from the weekend for week 1/2. you saw what inmates in the asylum did. david: do you think he had been here the mess betw

that is why we are speaking to steve mnuchin. good to see you.-- our tech companies censoring politically conservative views? they are and we are talking tome someone who is experiencing it firsthand. stay tuned. i love kiwis. i've always had that issue with the seeds getting under my denture. super poligrip free. it creates a seal of the dentures in my mouth. just a few dabs is clinically proven to seal out more food particles. try super poligrip free. ♪ is america's number-one you kmotorcycle insurer. yeah, she does purr! best bike i ever owned! no, you're never alone, because our claims reps are available 24/7. we even cover accessories and custom parts. we diget an early start! took the kids to soccer practice. you want me to jump that cactus? all right. aah! that lady's awesome. i don't see a possum! ♪ >> tucker: a handful of tech companies increasingly dominate the daily lives of americans. what could go wrong? whether you are shopping, socializing, working, or learning, odds are you will be spending an awful lot of time using amazon, faceb

tonight, i spoke with treasury secretary steve mnuchin about all of that. >> shannon: the president saide is holding you responsible for getting this thing done. they could only lose 22 votes to get this moving in the senate said it's working on a plan of its own that may be substantially different. how do you get this done and to the president's desk? >> i think we couldn't be more excited about where we are. we have been working with the house and senate leadership since the beginning of the year. we have everyone very close on the same page. we are thrilled that the house came out with their vision of the bill today. i think this is a great step forward and we are committed to getting this to the president and having him sign it in december. >> shannon: no surprise to democrats, they did not like it. you'd be shocked if you didn't hear from them. i got a slew of emails, middle class families will be taxed more both now on student loans, mortgage interest, medical expenses and later in the billions this plan will add to the federal debt, and an end os as a rule against moving forward w

. >> treasury secretary steve mnuchin and his wife are getting criticized for these online pictures.he holding up a big sheet of money? >> three hands. >> this was another multihanded moment. we will explain why the image and why the criticism next. you can't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. fomy doctor recommended ibgard. abdominal pain and bloating. now i'm in control of my ibs. nonprescription ibgard- calms the angry gut. >>> air man hunt is under way after a homicide detective was shot in the head. he was conducting a follow-up investigation when he approached a suspicious man who opened fire. the unidentified detective remains in grave condition. he is in the icu on life support with his wife and two children by his side. >> officials california say a man was ordered to give up his firearms earlier this year. they should have arrested kevin neal for violating a protection of order. they didn't know if he surre

here is what the secretary of treasury steve mnuchin said just within the last hour. >> secretary: the senate has more brackets, the house has a $10,000 real estate deduction. these are small differences. the objective for both sides is to get middle income tax cuts so i'm comfortable whatever gets passed on both sides will reconcile in committee and will get this to the president to sign. >> so liz if you're keeping score on what happens next we get the senate markup next week and of course we have the house voting this towards the end of next week. keep an eye on tom reed from new york as well as mike kelly from pennsylvania and also susan collins from maine, the senator. these are people who are pushing to keep some portion of the state and local tax deductions. >> liz: some portion of it cap ped, right? adam, it's so true. i've lost track actually if you're keeping one of those baseball scorecards, i'm out. i lost track. thank you so much. >> yes. >> liz: so infrastructure, healthcare reform, tax reform, investors a year ago were really hoping for a hat trick this year , all of the

nonetheless, a lot of jitters out there after treasury secretary steve mnuchin steve mnuchin told our own maria bartiromo, this. >> from the campaign the president wanted to have a 15% rate. we started at 15% rate. the president got comfortable with 20% was the right balance of what we could afford. and an incentive. we're sticking with the 20%. that is critical. >> the 20% rate is critical even if it's a year later? >> again, we would rather it sooner, but we'll work with the house and senate on the rollout of that. >> heard him. is a corporate tax cut delay still on the table? we learn what is in the senate's version of the tax bill. the biggie here, no one seems to want to allow people to deduct state and local taxes. so instead of people's tax bills going down, in any of these states where they have high income taxes, on a state level, on a municipal level, guess what, their tax bill, even for the middle class, it is going up. how will that help the economy? is this a starting point? we talk about all of it. dr. sebastian gorka is here on president trump's big meeting with preside

reminder, steve mnuchin will join us at 11:30 ea reform, discussing tax along with other priorities.w york, this is bloomberg. ♪ -- from new york, this is bloomberg. ♪ is this a phone? or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. ♪ in newit is 3:00 p.m. york. i'm julie hyman, and for julia chatterley. scarlet: and i am scarlet fu. welcome to "bloomberg markets." julie: we are live and bloomberg world headquarters in new york. here other top stories we are covering. tax reform, in the spotlight on capitol hill. the house ways and means committee continues its markup of the bill to overhaul tax laws treat we look at what is in and out for now as the debate heats up. a failure in the bid to win boards seats at adp. more

happening right now in new jersey, congressman tom mcarthur is hosts treasury secretary, steve mnuchin, and presidential adviser, ivanka trump, for a public discussion of the tax plans. this is a live look right now at the event at the beyville fire hall. you can look for lauren mayk's report on the meeting coming up today on nbc 10 news at 4:00. >>> happening in the next hour, new jersey democratic governor-elect phil murphy will join with democratic members of his state's u.s. house delegation in newark to respond to the republican tax plan. they are expected to criticize the plan for limiting deductions for state and local taxes, student loans and medical expenses. democrats have also denounced the plan, because they say most of the benefits would go to the top 5% of wealthy households in new jersey. >>> happening now, democratic congressman bob brady and dwaid evans are joining labor leaders to talk about the tax plan. they want to highlight the fiscal and human costs of the gop tax plan. we'll have a live update at 11:30. >>> to this now. police arrested a woman in the shooting de