actually tell him to slow down. >> and he says i'm going to do it my way. have a wonderful sunday, guys. >> good morning. welcome to the special edition of sunday morning futures. coming to you today from washington, d.c. moments from now, my exclusive one-on-one interview with president trump. i will get his take on everything from tax reform and healthcare to the crisis with north korea. thanks for being with me. this is sunday morning futures. >> president trump has been in office now for just over nine months. while much of that time has been focused on repeal and replacing obama care, the attention now is on the other big campaign

promise, tax reform. with budget plans passed in both the house and senate, now the path is clear to get a deal done. earlier i sat down with the president at the white house for an exclusive one-on-one interview. i asked him where tax reform stands today. >> mr. president, thank you very much for sitting down with me today. >> thank you. >> here we are in the week that the dow jones industrial average just hit 23,000, 5 1/3 trillion dollars of market value created since your election. largely because of this anticipation and hope that your policies will get implemented. tell us where we stand on the tax plan right now. >> we're doing very well. we will -- we had a fantastic vote as you know, and budget is indirectly passed. now, it is going to go through a little bit of an iteration but it will end up doing very well. i think we are going to get our taxes. i think it is going to be -- hopefully before the end of the year but maybe much sooner than that. there's great spirit for it. people want to see it.

i call it tax cuts. it is tax reform also. i call it tax cuts. it will be the biggest cuts ever in the history of this country. i think that there's tremendous appetite. there's tremendous spirit for it. not only by the people we're dealing with in congress, but for the people out there that want to see something, 5,000 -- almost, it can be $5,000 average per individual per group. and so i'm really looking forward to it. let's see what happens. >> it could be quite historic. i know this weekend is the 31st anniversary of when president reagan instituted tax reform. >> on sunday. >> that's a big deal, on sunday exactly. do you think you have the votes? >> i think we have the votes. i think that rand paul is actually going to vote for the tax cuts. i think that other people -- you know, we had tremendous enthusiasm this time. healthcare i was told was tougher, but it was close. i mean, so far i would say it's not even a contest. i will tell you speaking of healthcare, i believe we're going to get that also.

it will be in the form of block grants to the different states, and it will be a wonderful healthcare. it will be a tremendous healthcare. managed properly in smaller doses where you can really do it much more individually. so i think we're going to get that also. and a little bit later probably in three or four months from now but i do believe we will have that long before the election in 18. as far as taxes are concerned you see what's happening. it is really doing well. great enthusiasm. >> yeah, you soured on the healthcare bipartisan plan a bit; right? from alexander and murray. >> i have looked at it strongly. pretty much we can do almost what they are getting. i think he's a tremendous person. i don't know senator murray. i hear very very good things, but i know that lamar alexander is a fine man, and he is really going to do good for the people. we can do pretty much what we have to do with that. you know, the secretary has tremendous leeway in the -- under the obama plans. one of the things that they did because it was so messed up,

they had no choice, but to give the secretary leeway because they knew he would have -- he or she would have to be changing all the time. we can pretty much do whatever we have to do just the way it is. so this was going to be temporary, prior to repeal and replace. we're going to repeal and replace obama care. and i think we actually have the votes. people are criticizing me for saying that. i think we actually have the votes for that. you know, we were basically one short and i think we will have the votes for that also. >> i'm going to ask you about that, even your supporters say you know he has fantastic policies. we want to see this through, but the bickering and the feuding actually gets in the way. so obviously the feuding with senator corker. i think there's a personal thing going on between you and senator mccain. do you worry that this bickering and feuding gets in the way of your agenda? >> no, and sometimes it helps to be honest with you. we will see what happens in the end. i think actually sometimes it helps. sometimes it gets people to do what they are supposed to be doing and you know that's the

way it is. i just want what's right. and i think for the most part, they want what's right too. so we will see what happens. but i do believe we have the votes for healthcare at the appropriate time. and i think that we're going to have the votes for taxes. and i will say the fact that healthcare is so difficult, i think makes the taxes easier. the republicans want to get it done. and it's a tremendous tax cut. i mean, especially for the middle class, and especially for business. we have, you know, we're losing our companies. we have companies leaving. and i have to say, since i have been elected, that's really stopped. it's really slowed down. there's a tremendous enthusiasm for business in this country. so a lot of things have changed. >> you see the job creation as well. >> it's been so fantastic. >> if they can't get this tax bill done this year, should they forego thanksgiving and christmas? should they be here if they don't have a bill on your desk by thanksgiving? >> well, i think they should. and i think they will. i think a lot of things are happening. you know it's going to right after that. but i don't even like them

leaving, butly say this -- but i will say this, i want to get it by the end it was year but i would be very disappointed if it took that long. they will send the bill back to the house. people go and make 200 suggestions as opposed to maybe no suggestions, because it's a great bill. it's going to be a great bill. and we're adjusting. we're adjusting so that there's no way that the middle class doesn't greatly benefit. every once in a while there's a method under which, you know, it could be that some people in the middle class won't benefit as much as we want them to benefit, and we're making certain adjustments, but i think we're going to have it sooner rather than later. >> paul ryan did an interview this week and said you are insisting that they have a fourth bracket. it is on your insistence that they have a fourth bracket. i know you are very focused on the middle class. but do you want to raise taxes on the rich for the fourth bracket? >> well he really said that on the basis that i wanted it or was thinking about it because i want to make sure the middle class gets taken care of.

in that way, yes. actually we do have four brackets because we have a 0 bracket and people aren't including that. that would make it a fifth bracket as opposed to an eighth bracket on the other side, on the other way. i call it our competition, which is the competition of the past. no, i think that when paul says that -- we may not have that. but i would rather do that than do anything to hurt the middle class. >> that's what i don't understand. and i followed your policies really closely. the state and local income tax deduction elimination you take that away. then you go to a fifth bracket or a fourth bracket however you want to say it and you get a higher rate for the top earners. >> right. >> if the top earners pay 80% of the taxes, why are you so afraid to cut taxes on the top earners? >> i think this, look, you know, i am very happy with the way i've done prior to this in my civilian life. >> of course. >> it's about me representing rich people, let's say, representing -- being representative of rich people.

it's very interesting to me, bob kraft was very nice. he owns the patriots. he gave me a super bowl ring a month ago. which was very nice. but he left this beautiful ring, and i immediately give it to the white house and they put it someplace, and that's the way -- >> how great. >> he's a good man. he said to me, you have to do us all a favor. give the tax decrease to the middle class. we don't need it. we don't need it. we don't want it. give it to the middle class. and i've had many people very wealthy people tell me the same thing. i've had very few say i want more. i want more. they really want to see -- you know, the middle class has really not done very well over the last long period of time. and so when paul mentions maybe one more category -- which i would rather not have. it may not happen. but the only reason i would have -- and he does say this, he's very plain on what he said, is if for any reason i feel the middle class is not being properly taken care of

>> much more of my exclusive interview with president trump in a moment. including his take on the corporate tax rate, whether the end of nafta may be near. follow me on twitter at maria bartiromo at sunday futures. let me know what you would like to hear. to hear. we're looking forward this how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9?

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ask your hep c specialist about harvoni. welcome back. more of my exclusive interview right now with president trump. moments ago we heard what the president had to say about individual tax rates. but the corporate rate will be critical. and that certainly will be critical for the economy. i asked him about that. >> we need a corporate tax down, you know, maybe is the most important. we have a lot of most importants, but bringing it down from 35 down to 20 percent, that's a massive -- that's the biggest that we have ever done. >> that's a big deal on the corporate rate, for sure. >> it is a big deal for companies. it is a big deal for investment. i think one of the other ones is expensing. you know, when you write something off in one year, as

opposed to, you know, over many years, i think that's going to be tremendous. we have so many things in this plan that are going to be for growth. and, you know, your next question is going to be deficits, and i fully understand that and we all understand it and growth. if we pick up one point on gdp that's 2.5 trillion dollars. if you think of it. 2.5. it more than pays for everything. and i think we pick up much more than one point. i have been the one that's saying we're going to hit three sooner rather than later. last quarter we hit 3.2. >> yeah. >> we haven't been there in a long time. it's been a long time. as you know, the previous administration didn't hit it for the year for eight years. in eight years it didn't hit it at all. here we hit it in, you know, an early quarter from me. actually before that it was down in the ones. it was down in the ones. >> people got used to like 1 1/2% growth for a long time. >> i become friendly with leaders of other very very large

countries. i would say how are you doing? they would say we are not doing well. we are not doing well. gdp is at 7%. gdp is at 8%. we are not happy. and i'm saying you know we had it at 1%. so i really think we can do much more than a point. let's see what happens. but one point is 2 1/2 trillion and millions of jobs. >> let me ask about your courting of the democrats recently. the reason i brought up this other bracket is because i feel like the republicans get bullied by the left, by this whole talking point of it's always tax cuts for the rich. >> by the way that's an automatic talking point. >> did you get bullied again? are you getting bullied again? >> i don't think so. it doesn't seem like it. we just got the budget passed. >> if you get a fifth bracket -- >> i like schumer before he even knows the plan he says this is for the rich. he doesn't even know what the plan is and he's screaming it for the rich. he did it with healthcare too. he said this is for the rich. you are not going to get your coverage. everyone is going to go into hospitals. it is going to be terrible.

the world is coming to an end. okay. didn't even know what the plan was. that's okay. you know, we're all learning politics; right? he said that. he says the same thing because i saw him two days ago before he really knew what was happening. he said oh no it is for the rich. that's an automatic statement. it is like in business, you ask for twice as much. >> right. but you go back with chuck schumer. >> i do. do you think it's helpful in terms of negotiations? >> i don't think it matters. i really don't. i met with the senate finance committee. i met with the republicans, democrats today, right across the hallway. two days ago. we had a great meeting. their chairman. we had a fantastic meeting. there's a lot of similarity. they want tax cuts also, maria. they want tax cuts and they want them as fast as possible. they don't want to say it, and they are saying oh gee, you know, the middle class -- i call them the working people because they are really the working people but the middle class doesn't benefit. that's their standard. but they know they do benefit.

they are the big beneficiaries. the other big beneficiary is jobs, wages. >> that's been your priority. >> it's been my priority. if you look at what i have done between regulation -- i have cut more regulations in nine months than any president has cut during the entire term that they were in. nobody's cut -- >> you are better than president bush -- under your leadership >> i've just begun. i think i can double it before it's over. a lot of it is statutory which you have to give 90 day notice and 120 day notice. we have given those notices. we will be doing a lot more. you look at keystone pipeline, dakota access pipeline, these were all dead projects that i approved them literally in my first days. >> what do you think about tech right now? you have these companies that are more powerful than ever

before. they have everything, all this data on us. they are selling the data. should the tech companies be more regulated? >> well i guess some people talk about freedom and other people talk about we want to know who is taking ads or doing whatever, and i would imagine something is going to come down along the line like we're doing right now for regular, you know, whether it's commercial or not, for a normal broadcast company. it will be very interesting to see. you know, that's an argument that's happening right now. it will be very interesting to see -- there's two very distinct views on that. honestly i could go either way on it. >> mr. president, who do you want to see running the fed? >> well, as you know, i have been seeing a number of people. and most people are saying it's down to two, mr. taylor, mr. powell. i also met with janet yellin who i like a lot. i really like her a lot. so i have three people that i'm looking at. and there are a couple of others. i'd say i will make my decision pretty shortly. >> isn't there a way you can get

taylor and powell in there because you have a vice chairman opening as well. you could actually put them both in there. is that in your thinking >> it is in my thinking. i have a couple other things in my thinking. i like talent. they are both very talented people. it is a hard decision. it is a very very important decision. people have -- most people have no idea how important that position is. that position is actually more -- a lot of people say get rid of the fed, take the fed out. the fed is a very important position. it is also important psychologically, if the right person is in there, a lot of good things can happen. i think i'm doing a good job for business in that way. people are coming into country. you see what's happening with apple where they are going to -- i said to tim cook. i said tim, i want some of these big beautiful plants that i see in china, they have to open in this country. you've got to give me some big beautiful plants. it is happening. it is all happening. auto companies are coming back into our country, coming up tomimy aga-- to michigan again. they are going back.

we're not going to be taken advantage of. we were taken advantage of i wouldn't say the company so much but other countries. we were so badly taken advantage of. as you know we're negotiating with nafta. and they have an election right now. and lots of things, but at some point, either nafta will be renegotiating so that it's fair to the united states or it will be terminated. it's very simple. people think that's a very tough statement. but it will probably be renegotiating, but if it's not successfully renegotiated so it's fair for the united states, it will be terminated >> coming up, more from my interview with president trump as we look ahead this morning on sunday morning futures, back in a moment. [fbi agent] you're a brave man, mr. stevens. your testimony will save lives. mr. stevens? this is your new name. this is your new house.

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president trump made congresswoman wilson who say she was listening to the call. she accused the president of not showing proper respect. but last week the president's chief of staff john kelly defended the president in emotional statement. i asked mr. trump about that. >> he is a very elegant man. he is a tough strong four star marine. four star marine, you've got something special to start off with. okay? general mattis, general dunford also, but very few. he was so offended because he was in the room when i made the call. and so were other people. and the call was a very nice call. he was so offended that a woman would be -- that somebody would be listening to that call. he was -- he actually couldn't believe it. actually he said to me, sir, this is not acceptable. this is really not. he knew -- i was so nice -- look i have called many people.

and i would think that every one of them appreciated it. i was very surprised to see this to be honest with you. >> he spoke very well yesterday. >> and by the way, i spoke of the name of the young man, and i -- it was a really -- it's a very tough call. those are the toughest calls. >> very tough -- >> these are tougher than dealing with the heads of countries, believe me. these are very very hard calls. they are sad and sometimes, you know, the grieving is so incredible. but he's just an elegant man and a wonderful man, and he is doing a fantastic job as chief. >> the congresswoman wilson, she said oh, everything he said was because he's just trying to keep his job. >> yeah, he doesn't need this job. in fact he didn't really want this job. he was so happy -- you know, he's a military guy. he was doing this incredible job on the border and elsewhere. you know, he ran homeland like nobody has ever run it, down 78% at the border crossings.

>> incredible. >> he was -- there's nobody close. you go to the original first day, there was nobody close to doing the job. and i said, i'd like to take you. how would you like it? and it's not that he wanted it. actually he would have preferred doing and staying where he was. he's a man that felt it would be important for the country. he does it for the country. he's not doing it for what he wants. he does it for the country. a very unusual man. when she made that statement, i thought it was sickening actually. >> i want to ask you about the border. you said you want a legislative fix for daca. what else do you need to see in terms of the border? >> we're working on daca. we will see if we can get something with daca. we have to build the wall. all tough do is look at what's -- all you have to do is look at what's happening in mexico. we have to build a wall. what's happening with drugs -- i will be making a big announcement on that next week. what's happening with drugs in our country -- by the way, in

the world, it is not like we're singled out. it's never been like this. a lot of the drugs come through that southern border. we're going to have a wall. i would like to do something with daca. and we are negotiating right now with the democrats. we will see if we can come up with a solution, but i can tell you, i and the republicans are very open to it. we have to get something in return. >> and last week on this program, we had prime minister benjamin netanyahu. he commended you. he congratulated you for decertifying iran in what you did last week. dupg you're going to get -- do you think you are going to get the europeans to support you in terms of sanctions, in terms of not selling technology to iran? >> honestly i told them -- they are friends of mine. they really are. i get along with all of them. whether it's emmanuel or angela. i told them just keep making money. don't worry. you just keep making money. when iran buys things from germany, the france, by billions of dollars, even us, they were

going to buy boeings -- boeings. i don't know what's going to happen with that deal. when they buy those things, it is a little harder. i told them just keep making money. don't worry. we don't need you on this one. >> on north korea, is our policy with china just about what it does with north korea? or do we have a separate policy with china for something else? >> china has been -- i've developed a very good relationship with president xi. he's going through his congress and it's going to be something very soon that's going to happen that gives him something that few leaders of china have ever had. i'm really good with that. to be honest, i told him this, i want to keep things very very low key until such times as he gets that. i want him to get that. i think he deserves it. a good man. they have been helping us. they are closing off their banking systems to north korea. they have cut the oil way down. now the banking systems we can

see because it all comes through here, as you know. the oil you can never really see what's going on, but the oil is way down. the oil is -- they are doing a lot of things. >> for the first time ever? >> for the first time ever. there was a recent article that said i had the greatest relationship of any president the two of us and i think we do. i really do. i don't want to be foolish. he's for china. and i'm for the u.s. okay. we start off with that. but we do have a very good -- i would say an exceptional relationship. and china's really helping us. with respect to north korea. look, 93% of the things going into north korea come through china. china is big stuff. i believe he's got -- he's got the power to do something very significant with respect to north korea. we will see what happens. with that being said, we're prepared for anything. we're so prepared like you wouldn't believe. you would be shocked to see how totally prepared we are if we need to be.

would it be nice not to do that? the answer is yes. will that happen? who knows. >> president trump has taken to social media unlike any of his predecessors. coming up, what he has to say about that twitter habit. plus newt gingrich will join us to talk about where the president's agenda goes from here as we look ahead on "sunday morning futures" right now. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone

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it >>'s such an interesting question because i have friends that say oh don't use social

media. see i don't call it tweets. tweeting is like a typewriter. when i put it out, you put it immediately on your show. i mean, the other day i put something out. two seconds later i'm watching your show it is up. >> you are right. we're watching your twitter feed. >> they're well crafted. i was always a good student. i'm a person that does well with that kind of thing. i doubt i would be here if it weren't for social media to be hon west you. -- to be honest with you. there is a fake media out there. i get treated unfairly by the media. i have a tremendous platform between instagram and twitter and facebook. when somebody says something about me, i'm able to take care of it. the other way i wouldn't be able to get the word out. >> yes the president's tweets dominate much of the news cycle since he took office of course. he was answering a question of mine basically saying don't you think some of the unscripted tweets take away from your broader message?

i'm joined right now by former house speaker newt gingrich a fox news contributor. it is always great to see you, mr. speaker. >> great to see you. i want to commend. this was a great interview. and i think you brought out sort of calmer more explanatory side of the president. i thought it was very well done. >> thank you very much. we were just showing a cover of your book, vengeance, congratulations on the book. i know that we want to talk about that because you get in here foreign policy and it's a great book. the president has his way of doing things. and you know, i spoke with so many people ahead of this interview, and most people said the same thing. we like the policies. we like where he's going in terms of tax reform. we just wish he wouldn't always step on his message. but he doesn't see it that way. >> no. i think part of it is because he finds it very hard to accept criticism. and he did it, therefore it must be right even if objectively, you know, not too smart sometimes. i think also he has been

astonishingly effective with social media. >> right. >> both facebook and twitter. and i think people underestimate -- a good friend of mine randy evans said the other week that in a little while, another year or two, lots of reasonable people are going to start saying, you know, i don't quite like some of the style, but he's really effective. and i think that's what you and he were talking about in this interview, that when you look at the tax cuts, which i think are going to happen. you look at the deregulatory policy which has been amazingly effective. you look at the conservative judges he's getting. he and mcconnell have collaborated. they have had twice as many judges approved so far as obama got in the same length of time. and they are conservative and they are on average eight or nine years younger than the obama judges. he's shaping the next generation of the judiciary. all these things are happening in a methodical way. meanwhile, about to go on a trip to asia. very substantive president in a twha the noise around him -- in

a way that the noise around him i think sometimes hides >> very well said. >> i know the judges have been really successful and the regulatory rollback has been very successful. i think that's part of the reason we saw 3.1% gdp by the way. what about the staff, newt? i mean a lot of people say, yes, there's some obstructionism going on on the left. but he's not sending enough names up to be nominated. is there an issue in terms of getting the staff in place still? >> yes. >> he's got half as many players there today than obama did. >> look, i think there are three issues. i think first the democrats have been remarkably destructive on blocking people. you know, we still don't have our ambassador to spain in the middle of a period where spain is in a real crisis. we have lots of positions at the defense department that still haven't been filled. a lot of stuff going on that the

senate deserves a lot of people being mad at them. second, i think the administration found that a lot of the people -- unlike obama who intended to appoint people who had been college professors or had been activists, they are appointing people who are really wealthy. if you are really wealthy, the length of time it takes you to go through the ethics stuff, the changes, putting, you know, getting rid of your interest -- this has been much longer than it would have been for an obama team. then the last was this guy, you know, he wasn't sure he was going to win on election night so he didn't come into washington with a whole team, you know, and he's -- i think by next january, he will have basically caught up with himself. >> let's talk about the agenda. what do you think of the tax bill? is he going to be able to get this done? >> well, i think, yeah, my guess is in 90, 95% they get a tax bill. my worry is they need to get it this year. i tried to get them to get it by thanksgiving. i'm a little concerned it slid a little bit. but they are going to get a tax cut. i love the other day when the

president said at the heritage foundation, he would like it to come by a christmas present. i can live with that. i think the country should be very upset if they try to leave town without having passed it in december. >> okay. so if he gets that tax bill done, and he actually is able to cut corporate taxes and cut individual rates, that's a big deal. >> and cut small business taxes. >> exactly, the pass through, 25 kt p -- 25%. >> you are going to have a boom, between deregulatory policy, much tougher trade policy, the saudis alone signed 4 billion dollars in contracts when he was in riyadh. you add to that, you get us down to a 20% rate at a time when if you're a potential entrepreneur, you suddenly have a president who loves entrepreneurs. so the psychology, the excitement, the interest in business, i think is going to keep going up. as you yourself pointed out, and i watched you every morning as you described the markets and what's going on, we already have a lot of good stuff happening, and we have a surprising

consumer confidence, surprising investments underway. give us the tax cuts, and the economy will boom next year. if republicans become the party of prosperity, jobs, and growth as they did with reagan, with higher take-home pay, i think they will win the election next fall and we will have stabilized the system for a long time. >> by the way, we should say that one ambassador that has gotten through, your wife, the new ambassador to the vatican. >> yes. >> congratulations to her. >> i'm so proud of her. as you know, she had a book too, remember the ladies about presidential wives, teaching american history, she's very frustrated as an author, but she's very honored to have been chosen by the president, she's a very devout catholic. the idea she's going to be with -- trying to interpret pope francis to president trump and president trump to pope francis, i'm going to watch this with enormous interest. >> me too. let me ask you about foreign policy and the rest of the agenda.

we know what he's tried to do so far. the healthcare, he's so adamant that he's going to get something done. but then there's iran. then there's north korea. there are serious dangerous issues out there. what does the next year look like for this president? >> look, i think this is the most dangerous period since the cuban missile crisis because of north korea. i think the president will continue to increase the pressure on north korea. and you can see the north koreans, just sent a letter this week to the australians complaining because the sanctions are toughening, getting tougher and tougher. i think with iran, i thought the president was very courageous and did exactly the right thing. he decertified but did not break the arrangement. he said basically look, the congress now needs to look at it. the corker bill allows the congress to have 60 days to look at it. i hope they are going to do two big things. i hope they are going to say the iranians have to allow inspection of military facilities and there's no deadline. they haven't a drop dead moment

when they get to have nuclear weapons. i think it was the right direction. we're going to have to do a lot more with iran. i was delighted when the treasury department announced that the iranian revolutionary guard would now be listed as a terrorist organization. again, it is a step -- you are watching president trump gradually adopt a methodical sophisticated tough-minded american policy with people, you know, like tillerson and mattis and mcmaster and kelly helping him. and this is a very sophisticated effort to protect america. >> real quick on putin. putin is now saying -- he's getting involved in the north korea issue here. he's basically saying he's going to be a mediator between south and north korea and that the u.s. should not look at north korea and approach it with borishness and -- >> i love in between assassinating people having putin talk to us about that. this is a regime that's routinely assassinated people.

but, look if putin could find some magic way to get kim jong-un to give up his weapons in return for a nonaggression pact or something, more power to him. i'm not opposed to anybody who tries to help solve that. the hardest problem on the planet. we don't know exactly what's going to work. i think it is very dangerous. >> mr. speaker, always a pleasure. >> good to be with you. >> thank you very much. newt gingrich there. it is full steam ahead now for the republican tax plan. one of the big questions left, will there be a fifth bracket? the president answered that question. we will bring it to you as we look ahead on "sunday morning look ahead on "sunday morning today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease.

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start today. ♪ do you get any sense of this fifth bracket? if you do a fifth bracket, is that a million dollars, 2 million dollars? what's the number. >> i don't think we will use a fifth bracket. i will only use it if for any reason the middle class isn't get as much as i thought they would or as much as they are entitled to. they are entitled to a lot. this is really about the middle

class and jobs. if i feel the middle class is not getting what i want them to get, and that's going to be a lot because i want them to get really a lot, then i'm going to do a fifth bracket which will give them more. >> president trump talking about his tax reform plan, so with house and senate budget plans now in place, where do we go from here? let's bring in our panel right now. brad blakeman, former deputy assistant to president bush, also joining us is a chief economics strategist with the "wall street journal." thank you for being here >> one of the things that struck me his comments from the whole interview is the timetable he laid out. he suggested that -- he expects this to happen very fast. a lot of people are saying year end, maybe into next year. he said no, i want -- he wants to move even faster than that. he will be disappointed if it doesn't happen sooner than that. he sounds like a person who is pretty optimistic about the chances of getting this done. >> brad, in terms of what this tax plan looks like, will we

will able to get this across the finish line even though there's pushback because of the state and local income tax deduction elimination? >> i think we will. we had some good news on the budget. it sailed through. only lost one republican. but the president knew what was going on in the vote. we didn't get rand paul but the president said we will get him for tax cuts. we don't have time. newt gingrich has said time and time again, even on your show, we better get it by thanksgiving. now i'm willing to slide to the 15th of december. it's got to be this year. and then the question is, is it going to be retroactive to the beginning of january of 2017? that would be a jolt to the economy. we're talking about major 31 years in the making for corporate, personal, repatriation of money from overseas. so this is bold. but i think the president is going to get the votes. >> in fact, today, sunday, 30 years ago, 31 years ago was when reagan did his tax reform. a little bit of an anniversary. >> maria, we're seeing in the

stock market the way the stock market behaved in the past week, that investors are really factoring the likelihood that this is going to happen. i think there was a lot of skepticism in the markets building over the last few months about whether everything that happened on healthcare about whether they would be able to get something finished on taxes. the market the way it is behaving says yes they are going to. >> 23,000 and counting; right? let's talk about the news i think we had on the fed, john. the president basically ruled out some people in that interview, i thought, when i asked limb who he wants -- when i asked him who he wants to see run the fed. >> we won't know until he makes his choice but it sounds to me like he narrowed his list from five down to three. he didn't mention gary cohn his own economic advisor and he didn't mention a fed governor who was in for an interview. the three people he did mention were powell who is a fed governor right now, john taylor, a stanford university professor and janet yellin herself to the surprise of many i think a

democrat, he said he liked her very much. it sounds like those are three people that he's narrowed his list down to. that's big news -- that's big news for the market. that decision will matter a lot. >> if it's taylor and powell, what do the markets do? because one could be chairman and one could be vice chairman. >> people with very different world views, very different views of where interest rates should be. >> right. >> john taylor wrote a rule called the taylor rule which suggested that short-term interest rates should be as high as 3 1/2% right now. >> okay. >> that could be a blow for stocks. powell has been on board with yellin with very low interest rates but he has a more deregulatory mindset. he could get the nod simply because he is more compatibility with janet -- i'm sorry with donald trump on regulation. >> on foreign policy, what did you hear on iran? what did you hear on chai? -- on china?

>> china seems to be exerting the influence needed with north korea. i think he has a good relationship with china. on iran, he's getting tough but listening to advisors and being very strategic in the way he's going about the iran deal. >> will the europeans follow and be in sync? >> they better because they have as much to lose as we do. >> yeah. that's what we want to see in terms of these sanctions whether or not the other countries in this deal go along with the u.s. we will take a break. when we come back, more with our panel as we look ahead on "sunday morning futures". stay with us. things than rheumatiod arthritis. before you and your rheumatologist move to another treatment, ask if xeljanz xr is right for you. xeljanz xr is a once-daily pill for adults with moderate to severe ra for whom methotrexate did not work well. it can reduce pain, swelling and further joint damage, even without methotrexate. xeljanz xr can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections,

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we are back with our panel. brad blakeman and john hilsenrath. you say the repatriation part of the tax bill is most important. >> yeah, because it will give an immediate jolt to the economy if

we can bring that money back to america in a specific period of time, then think of the billions of dollars that can come back to this country. right now you have a benefit as an american company by going to ireland. >> right. >> at a reduced rate and selling your products back to america and they are taking losses on the american side. so it is a lose lose all the way around. >> same as mexico; right? >> absolutely. >> people build their plants in mexico and sell it all. >> we are doing it to ourselves. >> right. >> is this going to be important or is it going to be temporary? if it's a temporary tax cut, then the probability of them bringing this money back and investing it in the u.s. goes down. >> not good. >> if they repatriate these profits that are parked in ireland and the caribbean, what i want to see happen is what do they do with that money? does it go into plants and equipment? or does it go into dividends and share buybacks? if it goes into dividends and share buybacks that will help investors. it will help the stock market keep going up but doesn't

necessarily directly create jobs. >> he said both are good. i asked him actually and we will run that tomorrow morning on the fox business network. i asked him that, he said look both are good. if they decide they want to put it into their shares, and buy back stock, look, it's their money. >> right. >> the government can't tell these companies what to do with their money. what do you think about the president cozying up to the dems? a lot of people on the republican side say these people want to impeach him. and yet, you know, senator hatch said the other day he's spending more time with democrats than he is republicans on the tax bill. what's that all about? >> i think it is a great strategy. this is a deal maker. republicans if they don't get it, they better get it by now. he's the most transactional president we have had in modern history. he wants a deal. if a deal is to be had, people are acting in good faith, he will make the deal. he will rationalize it out later in his public speaking. the bottom line is we need generational tax reform. democrats and republicans want it. it is how we get there. >> i don't doubt the president's

willingness and ability to work with democrats on something like taxes. what i wonder about is can republicans and democrats work with each other in congress to come to an agreement that's mutually agreeable? you know, i wonder if every democrat that you bring on board, how many jump ship on the republican side >> the good news is we only need 50 votes. >> will they get the 50 votes? look at the problems they have had with their own party. but, you know, he's making a clear point of saying that rand paul will be there on the tax plan. >> but the budget was passed. >> yeah. >> and that was a huge hurdle to tax reform. i happen to believe that there are democrats who are going to be much more willing to come to the president's side on taxes and on healthcare. >> and senator donnelly by the way because he won those states north dakota and inn. -- and indiana. >> looking at your interview and some of our own, stay posted on this. i think everything is going to come at us very fast in the next few weeks. >> we will. great to see you both. that will do it for us on "sunday morning futures" this

morning. i'm maria bartiromo catch more of my interview tomorrow morning on fox business network and all next week. stay with fox business network for that. stay with fox news right now. stay with fox news right now. have a good sunday. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone

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[hero] i'll take my chances. >> lou: good evening, everybody. president trump addressing what may be the bigest scandal in american history. shocking implication with the obama administration and the clintons in a multimillion racketeering scheme that involved russian purchase of uranium one and gave moscow control of a fifth of american uranium. >> uranium is a big subject. if the mainstream media would cover the uranium scandal and that