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tv   Bloomberg Markets The Trump Economy  Bloomberg  June 22, 2017 1:00pm-2:01pm EDT

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the trump economy. here are the stories we're watching. it replacement for obamacare. mitch mcconnell says the final vote may come as early as next week. regulators say they are ready to roll back ranking world saying the rule is too complicated. president trump has his own jobs crisis. how the administration passes in ability to fill millions of vacant government jobs is hobbling his agenda. ♪ julie: bloomberg reported there were not tapes of president thend trump's meeting with fbi director james comey. the president just tweeted with all the reason the recorded electronic surveillance, unmasking, and legal leaking of information, i have no idea whether there are tapes or recordings of my conversations with james comey.
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not make them and do not have any such recordings. this is the fight -- despite the fact the president has floated the possibility. let's get back to the top stories of the day at the moment . that is health care p are it we are joined by kevin, bloomberg's chief washington correspondent on capitol hill. bloomberg senior executive editor for government and economics at our washington bureau, as well as bloomberg's congressional reporter joining us from capitol hill. thank you for being here to break down the situation for us here let's start with you, kevin p are finally got the bill. were there any surprises and what are the big themes of the bill? democrats do not like what it will do to medicaid. i can tell you with several democrats in hearings today, they say the bill is not something they will be able to support any means. republicans are where all of the action is. we just saw senator dean heller
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up for a tough election in 2018, a very tepid response in a public statement in which he suggests this is not a feasible solution he will be able to support. you talk to people like senator rand paul, a lot more conservative, to the right of senator heller, and he has got his concerns. those are two senators right there very much raising significant questions. in terms of timeline, the senate majority leader wants to see if this piece of legislation would be passed or get a vote sometime in the next week. thnonpartisan office, republicans will have to make a very tough political choice about whether or not they will back what is certain to be a piece of legislation that could reshape the political narrative for quite some time to come. >> mcconnell pushing for a vote by the end of next week. is the timing all going to align here? republicans do not have much time.
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>> a week is a long time in congress. up with annot come deal after talking behind closed doors for month after month, and now having one week to read the bill and amended, it is hard to would getch more time them to the magic 50 votes. you do have moderates who are concerned about the bill, reading it. the overall structure financially of the bill is still there. keep the hundreds of billions of dollars in tax cuts, including the ones for the wealthy, in the bill, the house bill, it makes it toxic to democrats. medicaid.t of cuts to but they did something that might help them get some more they didat is upfront, a number of things to try and wrote lower premiums immediately, including a $50 billion fund over the next four years to help stabilizthe that are collapsing in
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some states with one insurer or as wellers currently, as continuing cost-sharing reduction payments that the are not critical to keeping coverage affordable at the lower end of the scale. i've talked to several republican senators who are encouraged i some of what they have seen, but they are still digging into the details. julie: the stabilization fund is something that through more on the right elements of the republican party, were not in favor of. how do you put the bill passes chances and if the republicans cannot get it through, what does it say about the republican party now? >> i would say that chances are 52-40th that it will get past. [laughter] it is interesting that steve is quite right that a week is a long time. with the local markets collapsing, which they are in republicans will
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face a stark choice. are they complicit in defeating and obamacare replacement bill going into midterms? it will be a very hard and for them to place those votes. sendof course you have to whatever bill passes to the house where the freedom caucus is going to have a big problem with increased subsidies. who is vulnerable here? and is it a bigger risk to vote for or against the bill? >> it depends on who you are. the most endangered senate republican next year by far is filming one running in a blue state. jeff in arizona faces a primary as well as general election where democrats are targeting him. i talked to him briefly. he says he needs to look at the bill. b corker of tennssee is less in danger but alsop next year. not many endangered senate republicans here but this is more about the state.
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it is hard for people to go back to their state and say, you will get a lot less money from the federal government for health care and it is still going to be a good deal here and i think a lot of states, a lot of senators will be asking for carveouts for their states. one thing we know several republican senators wanted, rob portman of ohio, these are key states, key senators, and they wanted $45 billion in this package for opioids. there is only $2 billion in the bill. they will be asking for the additional $43 billion before they climb on board but we will have to see. julie: emblematic of the divisions over the bill nationally, you were there when there were protests outside of mitch mcconnell's's office. describe what you saw and what went down. there are about three dozen protesters with disabilities
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protesting outside of mitch mcconnell's's office. extra authorities were called in and they had to be removed from the leader's's office. a source said that actually the insidebutton was pressed the senate majority leader's's office to alert more authorities. police officer szekely had to relocate. he was seeing the images on the screen about the intensity of the protests are they have largely dissiped. clearly, security here is on high alert following what happened at the congressional baseball game. i can tell you this, to stephen's's excellent point about the opioid addiction, that was a key campaign promise for then candidate donald trump. i and his that you will hear a lot more about that. chuck schumer just gave public comments and already also hammered the president and the senate majority leader for that and what the bill
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does not do to address that awful epidemic. we will have to leave it there. we will be hearing from you much more in the coming days. senior executive editor for global economics and government, and bloomberg's congressional reporter. let's get a check on where the markets stand. taylor is here with the latest. -- all eyesl hot are on the health sector but i will start with a broad look at what the markets are giving us now you're not a lot of movement. the dow, up 1/10 of 1%. s&p, 20 -- .2%. .he nasdaq is leading the way of course, all we have been talking about has been the health care sector. look at the s&p health care index, it is on track for its fifth record close today. just thisaying it is bill being released, overall positive for the market. two stocks i want to look at
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behind the scenes are pushing this higher. the biotech pharmaceuticals of more than triple the rest of the pharmaceutical groups. perhaps some deregulation. and then other groups are higher on that more gradual rollback of medicaid expansion. that were some earnings did happen that we cannot forget despite health care news. two of those that i will look out for you, oracle is one. 9%.le up almost finally, staples is trading midday news, perhaps a potential bill, a buyout of sycamore partners. there is health care and earnings able to sneak in there for you. of other shortage things going on today aside from health care even if that is the top story. thank you. go ahead, more on the battle over health care. next, the former eli lilly president as well as under
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president george w. bush, our special guest. this is bloomberg. ♪
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julie: let's check in on the bloomberg first word news. mark ronson has more. trump said het does not have recordings of his conversations with then fbi director james comey cap -- capping weeks of speculation about whether such trump said he does not have recordings of his tapes exist. in tweets, the president said "i have no idea whether there are tapes or recordings of my conversations with james comey
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but i did not make and do not have subsequent court -- subsequent recordings. days after firing james comey on may 9, he sent out a series of tweets suggesting the existence of tapes. on a day when senate republicans unveil a bill to replace obamacare, the president said the era of the affordable care law has come to an end. following a meeting with technology executives, mr. trump criticized his predecessor's's signature legislative achievement. >> obamacare is a disaster, it is dead, and we are putting in a plan today that is going to be negotiated here and i would love to have democrats support but they are obstructionists and they will never support. but we will hopefully get something done and it will be something with heart and very meaningful. the obamacare replacement
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bill has been slammed by democratic leaders who say millions will lose their coverage. a man from tunisia reportedly shouted in a raic -- abic before stabbing someone in the neck. he made reference to killing overseas during that attack. the fbi is investigating the act oft in flint as an terrorism. officials say there are no implications it is part of a heer plot or officer suggest is listed in satisfactory condition at a michigan hospital. arliament can hold no-confidence vote on president jacob zuma in secret. the speaker of the parliament said she did not have a power to order a secret ballot. the opposition filed a no-confidence moment after he fired the finance minister which led firms to downgrade it to junk. news 24 hours a day powered by more than 2100 journalists and analysts in more
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than 120 countries. this is bloomberg. let's get more insight into the delicate dance. secretary ofdeputy the department of health human services under george w. bush, and is joining us now from indianapolis. .hank you does it thread the needle well enough to satisfy more it is ative elements great question and i think moderates in the republican party will be quite happy with the bill. it stacks the subsidies for individual insurance for those who most need it in terms of
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income. offf's the capping medicaid expansion. how do issue will be conservatives react? where is ted cruz and rand paul on this? can they get to 50? a lot here appeases the moderates. i do not see a ton in here that will be activating the base. what about elements we talked about in the roundtable? support for opioid addicts? in the bill, at least not in this version. do you think we will see a good amount question mark even mcconnell calls this the beginning of discussion. do you think we will see considerable changes made? >> sure. they will wheel and deal. up withte has to come the same $119 billion in savings in their pastars
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legislation. that is just the rules of the reconciliation process. they will have to see where this -- where this comes out and do some tinkering. i'm sure they will talk to individual senators and think about various amounts of money and programs, grants, etc.. a really interesting thing in this that i noticed was a critical -- free radical change. the bill would actually allow those of us with health savings theunts to contribute up to maximum deductible and out-of-pocket caps on. that is a major leveling of the playing field between employer insurance and those out tohe individual market. i think that is a big change. would you say that is the best change from obamacare? other others you highlight and are there any negative changes from obamacare? >> i think it changes that were very positive would help
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equalization i just mentioned. slowing the rate of growth of medicaid and definitely giving states more empowerment to run the medicaid program. those are good things just in the sustainability of the program. i was surprised about is how we did individual subsidies. they scrapped the house approach. the house said everyone in the individual market gets $2000 age, $4000, a voucher to buy health insurance. they got rid of that and instead, gave the money to anybody who made less then 350% of the poverty level. that could go up to a benchmark based on the cost of insurance. i was rather surprised they went that way. it is reminiscent of obamacare. it uses the same structure of obamacare. that surprised me a bit. it was printable they would put the money on those he need the
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money. let's say the bill does not pass. how much latitude does the agency have to make tweaks to existing law? under existing law, i should say. >> one of the nice things about obamacare is it gives tremendous amount of authority to the secretary of hhs here the secretary does have considerable latitude to make tweaks and changes to actually improve. a fundamentally flawed program, obamacare. there are still changes made to make it work a little better than it has been. he already ruled some of those out in the spring. there are more things he can do to create a stable insurance market. there's a lot he can do to grant flexible be two states so they can really run medicaid programs the way they see fit rather than the way bureaucrats in washington see fit.
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thank you for your time p early will have to leave it there. up, we will ask the ceo of the california -- california-based drone company about what he talked about in his meeting with president trump. that is today on bloomberg. ♪
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julie: this is "bloomberg markets, the trump economy." i am julie hyman. looming regulatory headwinds. here now to give us insight is george masher, -- george matthew , a company that uses drones for construction, mining, and insurance industries. joining us now from the white house, thank you for joining us. tell us about the meeting today. what was your take?
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afternoon. it was a great meeting with the president day. we had the opportunity to talk throh the challenges of emerging drone industry. the coverage is pretty clear. we want to spend time and regulatory frameworks in place, with the drone industry. and we wanted technical innovation and then of course, security and safety concerns. how encouraged are you particularly on the regulatory front? releasing guidelines for the joan industry. you will get on it more quickly? >> there are two things that happened. particularly when it comes to drones, and that allows commercial operations. with thetime
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administration today, it is clear there is an open administration it really want to push innovation forward and even the fact that there is a current process in place for being able to establish waivers as part of the process, it turned out the administration's look at further ways to automate waiver practices that we can drive more commercial -- commercialization. julie: i'm curious how this is affecting your business, lack of regulation, or is it not that much of a problem? >>'s past year particularly with the regulation being in place and the giving us a framework to operate within the law of the land, business actually increased quite dramatically. now that we have a framework, we regulations soe we have an opportunity to see it apply consistently within the airspace.
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we're safely and securely accomplished it for around the country in the world. possible to have autonomous vehicles into the airspace. julie: a tech community to have a contentious relationship. between that and trying to push for some of this pro-business agenda? >> this is about setting the right policies for pro-business today. that is for other ceo's is attended here if you will do the agenda for emerging technology, specifically america's's , there are only two topics brought up. one was around drones and the other was 5g. using about the inner relationship between the two, and it is really about continuing to forward progress the innovation and the capability that america continues to deliver a
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leadership on. we were excited to be part of that conversation in terms of driving the next future wave of technology innovation in these american markets. julie: thank you so much. we really appreciate your time. the chairman and ceo -- up next, president donald trump is dealing with a bit of a jobs crisis. we will look at the inability to fulfill -- fill millions of hampering hiss is agenda. this is bloomberg. ♪
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julie: let's start with the headlines. mark crumpton has more. mark: replacing obamacare. includes a longer transition -- than a bill already passed by the house and is expected to result in millions losing their health insurance. >> we agree on the need to free americans from obamacare mandates and policies contained in a discussion draft here at will repeal the individual mandate so americans are no longer forced to buy insurance they don't need or cannot afford. mark: leader mcconnell wants the senate to vote on the bill next week but it is not clear republicans have enough support to pass it. nancy pelosi has been taking heat from fellow democrats after her party posse special election loss in georgia this week. one person coming to her defense is president trump. the president tweeted today, taking a swipe at new york's democratic senator chuck schumer, the merger -- minority
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leader in the senate. he said i hope democrats do not force nancy out here that would be very bad for the republican party. say.e let crying chuck an early test for theresa may and brexit. european union summit. she will outline how the u.k. will handle one of the most contentious issues. >> today, i will set out the you k's plant particularly on how we propose to protect the rights of eu and u.k. citizens as we leave the european union. are 4.5 million citizens living in each other's countries. coming out about that attack earlier this week, a prosecutor said the man who slammed his car into a police convoy had a huge supply of weapons and pledged allegiance to the of -- the leader of the islamic state. attackers were killed when his car was on fire.
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than 2700 journalists are analysts in over 120 countries. i am mark crumpton. this is bloomberg. julie: president donald trump said he does not have tapes of james comey and we also getting senator bernie sanders commenting and oppressed reefing morning and he said he hopes for this say -- for his sake, he gets that take. -- tape. the presidenem there were not tapes in a couple of tweets. we are speculating and what did he perhaps hope to gain >> trump was strategizing a little bit, trying to ensure truthomey would tell the
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by suggesting he had tapes of the conversations. >> it was not bernie sanders is said that but sorry -- sarah huckabee sanders who said that in the press briefing which changes this a little bit. on twitter, very clear and i guess my brain go straight to bernie sanders instead. trump was going to have to reveal this one way or theotcong for it. we in the comey investigation at this point? >> great question. any various comey investigation stand, to refresh everyone, there are at least three by the fbi led by special -- special counsel bob mueller.
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one by the senate intelligence committee. of the three, one that seems to be making the fastest public progress is the senate intelligence committee, which held a number of hearings and interviewed a number of witnesses. we do not know where bob mueller is in thinvestigation. as the house reported earlier in the week, they have been written by discussed in part -- distrust. is in there an outstanding lawsuit filed against comey from president trump? he has been accused of lying at the very least. is there any way to prove this? >> we know the president has no tapes. he said he made no tapes. asked earlier whether james comey made any tapes. i doubt the director would have been so cold -- so bold as to
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lock in with the president of the united states and sickly tape the conversation. we're left deciding whose word we trust. do you trust the president of the united states, who, by the way, has a track record of making misstatements and exaggerations and false claims, including the claim on twitter that suggested on twitter that he might have tapes of conversations, or do you believe james comey, who even senate republicans say -- julie: thank you it appreciate your time talking about nonexistence, at least notrump f the conversation with james comey. the department of justice to the department of labor, the white house has failed to put in hundreds of political positions and it has been hobbling president trump passes agenda. fomberr ooovers
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there has been a lot of talk about this. why are all these positions still open? >> you are missing a lot of things coming together at once. we have a very sluggish pace of federal employees. these folks need confirmation. the slowdown has-been senate or the paces slower than usual because democrats have been upset about the nominations and do not want things moving quickly. checkso have that ground going on with the federal bureau of investigation. folks have been preoccupied with other stuff at the fbi and these things have not been priority. a lot of the responsibility of smiley lies with donald trump himself. he made about 110 nominations us far in his presidency. those are just nominations. barack obama and george w. bush at this point had more people than that confirmed. certain point, the white house has to take responsibility by saying, look, before you can get the names approved, you have
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to give them names and the names have not been out there. julie: in the meantime, our people working 80 hours a week watching mark are people getting things done? >> the secretary of agriculture has talked about work and 22 hours days. you see a lot of pressure not just on a few political appointees but on career staff on whom a lot of urgent falls. it is not like the government has shut down and there are not people working for the federal government. things are being done and prrams are being administered. policy not seeing direction being set. you are not seeing resources being allocated to implement what i'll trump wants. if you are the democrats, that may -- that may not bother you much but for the sake of the american people, who through the system did elect donald trump president and this is his administration, that work is not being done. julie: is there any time it is getting better and the backlog is clearing? >> the white house is continuing to put on names and they are you
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see nominations going forth throughout the week. the fbi does clear to this backlog. you are going to see only more and more people get confirmed as the summer goes on. alsossue here is distractions. you have senate investigations of james comey, you have things like the health care plan being hatched. it is easy to confirm a bunch of people but especially with the trump administration where there are a lot of concerns from democrats, they want betting on these folks. so again, it all takes time and all of the factors come together to slow the wheels of government to the point where certain actions just get halted. what does it say about the priorities of the trump administration? >> they are fighting a lot of battles on a lot of fronts. organization was not particularly clean coming into this. then you become engulfed by issues like russia and it is hard to give things attention. on the ground, it does things like hold up mergers, , u.s.itions of foreign
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open is by foreign companies, it departmentjustice investigations and slows the implementation of policy across the board. it just creates an even slower summer then usually you see in washington dc and there is no end in sight to that. quickly, what role does the senate play? is there any slowness on their part? lisicki take a look at the average days of the confirmation of donald trump nominees, is for days and other administrations have been 30's. so yes. julie: thank you. we appreciate it. check out the stories allen contributed to in the new jobs issue of bloomberg's this week on newsstands on friday. bankingp, two top u.s. regulars are throwing support behind the treasury's deregulatory agenda. taking a look at the efforts behind rolling back post crisis banking rules next. this is bloomberg. ♪
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julie: let's get a check on where markets stand or taylor has got stock it's for us. >> they have revised higher their fiscal year earnings. noth amerin sales did come in right and one with analyst estimates. that stock is down. emerging airlines. that is we know come making a bid by 10%. we put it on par with warren buffett's holdings, but that requires approval and there is no guarantee here.
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perhaps now that is why it is up 1% coming off of the bigger highs we saw this morning when the deal first came through and was announced. in the commodities, oil was all we were about earlier this week p or oil is finally a little bit higher their today. small gains pushing oil and gas companies that we are seeing here little higher on a relief rally, we will call it. a thank you so much with relief rally in oil prices. banking regulators are sprinting to ease rules. it comes back throwing back post chris -- crisis financial rules. financial regulation editor, he joins us from the studio in washington. what is the top priority?
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>> it is a top priority for regulators in both banks. it added a lot of costs. banks have complained about it for years. hated here they tide has shifted in washington. things are not getting more aggressive and trump increasingly gets his people inside the regulatory agencies, things will start to be dialed back. reaction ofbeen the lawmakers like elizabeth warren? >> issue pretty aggressive today sayingbanking hearing this proposal from the treasury department is not about boosting the economy but it is about helping wall street make more money, which wall street has sought ever since these rules came down upon them with the 2010 dodd-frank act. the fed was pretty defensive about that and they say no, we're not in a deregulatory mode.
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it is just time several years and that all of these rules, it is time to reflect and look at how things are working. they thinks thing -- they think things are not working well in some ways. banks are not perhaps lending enough for engaging enough. there are many regulators anding at the same things they say they want to adjust it. it is not making lawmakers like elizabeth warren very happy. >> what is the role of the regulatory agencies versus legislation in terms of easing the various roles? >> yes, the comments from elizabeth warren alone show you that congress, banks cannot count on congress to change dodd-frank very much. they certainly cannot count on congress to repeal dodd-frank. it is premature off the table considering the way those fall in the senate where democrats you know, have a lot of clout to stop things from happening. fed, places like
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the office of the comptroller of currency, the fdic, agencies we do not think very much about all the time, that is where true power lies. and if things will get released, it is much more likely to come out of those agencies than it is from congress. alan were just talking to about the lack of staffing and many government agencies. is that also the case at some financial revelatory agencies and does that slow down the process to some extent? >> yes, the trumpdministration was incredibly slow to staff these agencies. it is a must like they did not thatze in the early days most of the dialing back would happen at the regulatory level. they did not make enough of a priority to start filling those posts. i think wall street vocally communicated to the trump administration, forget congress, we need people at the fed who can dial back rules. we need people who can dial back rules and there has been kind of
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a rush lately of getting nominees at these agencies. very few of them have been confirmed in only a handful of them has a -- have even had some -- senate confirmation hearing scheduled. it has been a slower start than banks would like for start -- for sure. >> what is the timeline to roll back and revise these regulations? interesting question even once you get the regulators in price, it is a bureaucratic process. dodd-frank was passed in 2010. it was many rule -- many years before they came on the books. many years often to take off the books or revise them significantly. processl be a drawn out for sure. >> thank you for talking to us about this. i am sure we will get an update soon from you about what is going on. we have got headlines about crossing through bloomberg about health care legislation. senator rand paul says he and three other gop senators oppose the health care bill as written.
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that potentially puts the passage of the bill in jeopardy, although it could potentially be a negotiating tactic of some kind if he and these other senators want particular changes or amendments made to the bill. we will continue of course to monitor and update you on this situation. this is bloomberg. ♪
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julie: this is "bloomberg markets." have releasedcans their proposal to replace obamacare. reaction to the news in washington has been the separatists. >> obamacare is a disaster, it is dead, totally dead, and we are putting in a plan today that will be negotiated. need to freen the americans from obamacare's mandates and policies contained in the discussion draft will repeal individual mandates so
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americans are no longer forced to buy insurance they don't need or cannot afford. >> potentially voting on it in a week. no committee hearings. no amendment's and committee. no debate. on the floor, save for 10 measly hours, on one of the most we are dealing with in decades. it brings shame on the body. >> the fact is the process is not been good. it should go through committee. quite i am concerned it did not move back in february straight out of repeal. we did not have votes for that but i would vote for repeal and i will support the bill. >> trumpcare inflicts great suffering on veterans, on seniors, on working families and rural communities. .t is a job killer >> this is in a tailspin and we made a promise we would repeal and replace the law.
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i'm happy the senate has gone to the work of putting together a and that keeps the promise so i'm eager for them to pass it. >> i have never seen a more radical or wreck was legislative process in my time in politics. >> the most important thing is we stop the harmful bill without a heart and republican legislation. they finally released with a call a working draft. they worked so hard to hide all of this time. president trump: democrats are obstructionist's. they -- we will never get one the matter how good it is. we will hopefully get something done and it will be something with heart. and very meaningful. more, i want to bring in kevin, bloomberg's congressional coverage editor. we heard from president trump, surely no democrats are likely to vote for this. is, willion republicans all vote for this? we just got news that rand paul says he and three other republicans will not be bored --
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footing the bill. it is the beginning of negotiating back and forth? >> it is. it is labeled a discussion draft for a reason. everyone thinks the bill will change and some of the changes could be somewhat scripted changes that will enable certain republicans to claim victory and say, i secured this and now they can be seen by constituents as having shaped this in some fashion. some of these might be principled suggestion -- objections to the bill but it will be difficult for -- leaders to figure out how to address and satisfy them without alienating people elsewhere in the party. worriedtives are very the bill still preserves many elements of obamacare and it creates different forms of entitlements. you have very worried moderates on the notion that many millions of americans are likely to be without insurance under this bill.
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what the members of congress are hearing at home? what are content -- constituents saying? in generalthey still have feelings about repeal and replace. >> that is right. the house bill was incredibly unpopular in polls. very low among almost everybody, including republicans. bill is obviously only out a few hours, but is still largely the house till. there are some changes. there are key differences, but it will largely resemble the house bill in most ways. it basically repeals most of obamacare's's taxes and rolls back medicaid expansion and it is probably going to have a estimate fromilar the congressional budget office about the coverage affects, although we will not find that out probably until early next week. once that all becomes clear, there is reason to believe we will have about the same popularity rating of the last one. ex,we earlier talked to al
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who served in the health and human services at menstruation under george w. bush. howaid he was surprised moderate this version of the bill was. it is interesting, when mitch mcconnell and his colleagues were crafting this, i mean, is it more important for them to talk to the moderate wing of the republican party to get this done and risk alienating folks like rand paul? you see it ishat there are areas where it is more moderate and areas where it is more conservative. it depends what you are going to look for. it deals a little bit more than the house bill did to shore up insurance markets, in the short term, and there are a handful of other changes aimed at trying to in the moderates republican party, but it dramatic lee the growth of medicaid spending over time more
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so than the house bill did, something that is appealing to conservatives. bit ofthere is a little trying to have it both ways so each side can have a victory here. it is unclear whether that will be enough to get the 50 votes needed to pass it on the senate floor and if the 50 votes would also then add in the vote of vice president mike pence to be able to get the bill and send it back to the house where they would then consider it. >> all right. a week to come back-and-forth. thank you, luby's congressional coverage editor. thank you. coming back, we will get reaction from one of the architects of the affordable care act, jonathan. health care shares rally strongly and today'session, leading gains overall in u.s. equities. this is bloomberg. ♪
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>> 2:00 p.m. in new york. 7:00 p.n. in london. i'm scarlet fu. julia: i'm julia chatterley. welcome to bloomberg markets.
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scarlet: we're live in bloomberg world headquarters in new york. over the next hour the top stories we're covering on the bloomberg and from around the world. in politics, the senate republican proposal to replace obamacare causing fireworks on capitol hill. senator rand paul says he and three other republican senators oppose the bill as written. putting pass ng jeopardy. in markets, the health care bill in washington is sending hospital and pharmaceutical shares higher. we break down the impact. top companies in the industry coming up. and corporate news, controversy in the skies, american airlines announcing that qatar airways is interested in a 10% stake but telling employees he sees the outreach puzzling. all right. we have breaking news, banco amerco's decision on


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