tv Cavuto Coast to Coast FOX Business August 10, 2021 12:00pm-2:00pm EDT
that once the impeachment articles will be, impeachment process is formalized, at that moment he no longer has the power of the governor. in comes the lieutenant governor. as they prepare impeachment it really looks like governor cuomo's days in office are severely numbered i should say. neil is in today. neil, it is yours. neil: how do you know about the whale thing? who checked? you know what i'm saying? i hear that, wonder sometimes if your staff, stuart, makes up stuff. you would have to check with the whale. the whale might say closing in on 200, whatever. i don't buy it. i just don't buy it. stuart: get your own trivia question. neil: okay. here is trivia. where do they get the trivia for the stuart varney show? stuart: that is a good one. neil: very interesting.
thank you, my friend. i was out yesterday. i want to thank jackie deangelis for always so ablably standing in my absence here. want to bring you up to date we're following the cuomo stuff as stuart is as well. we're following what is coming on the infrastructure fund, enough to pass the senate. now the quagmire could be in the house. then it gets rather complicated. let's go to chad pergram on that. what is the next step from here. chad, what can you tell us? >> senate approved $1.2 trillion bipartisan infrastructure bill. the senate wanted to okay this last thursday, over the weekend but it us finally done. >> historic levels of support for transit, historic elves, new levels of support for things we hadn't done before as a country in a big way, like supporting electric vehicle charging infrastructure. reporter: the vote was 69-30. 19 senate republicans joined all
democrats to vote yes. gop indiana senator todd young had been on board with the plan. but young didn't like the bill added $256 billion to the debt. >> this troubled me and policy provisions. hopefully the house will improve on work product. we'll see what gets tossed back over here. reporter: now democrats are turning to their own 3.5 trillion human infrastructure bill. democrats will get no support from the gop on that bill. >> biggest thing we've seen certainly in my lifetime, will dwarf as i said anything we've seen in history and the debt at the end of all of that, at the end of all that, 2031 in the 10-year budget window will be $45 trillion. reporter: problems loom to approve both infrastructure bills. there is a divide between democrats about the state and local tax cap or s.a.l.t. about 30 lawmakers from high-tax
states want to lift the cap. some liberals want to maintain it. two reasons. it serves as a pay for and they believe wealthy americans should pay more. neil. neil: had those 30 some odd congressman hinging their hopes on getting the s.a.l.t. thing addressed, have they threatened they wouldn't vote for the measure if it comes up, either stand alone infrastructure package that got the nod in the senate or the 3 1/2 trillion dollar package down the road? >> well depends how they blend this together in the house of representatives. you could have two separate bills. you could have them blended together before they ship it back to the senate. maybe the senate bounces it back. there are a lot of different machinations putting this together. some are adamant they have to get it addressed in the bill. therein lies the divide inside of the democratic party as it pertains to the cost here. as i said, this is a crucial pay for here. you have liberals and progressives saying look, they
should have these wealthy americans pay more. this is going to be one of the most meddlesome issues as this bill comes over to the house of representatives. and it underscores just hue how challenging bassing this bill here is it going to be. we'll be here untiller fall. neil: i appreciate that, chad. 3 1/2 trillion dollar human infrastructure package is where the tax increases come in to play for the top, you know, paying americans as well as corporations, right? it is in that measure, right? >> right. but there is really three steps to this. what is going to start this afternoon in the senate is writing the framework for that. then they go over to the house and see if they put them together. they probably have to kick that back to the house or maybe goes back to the senate, where that is inserted not in the immediate process that begins in the senate this afternoon on the budget reconciliation measure which is what they're using to avoid the filibuster because they will not get any republican
support. neil: chad, you should stick with this following washington thing. you're pretty good at it. >> thank you. neil: some career advice. great job, my friend. >> i will take that. neil: there we go, run the other way. run the other way. edward lawrence following all these developments in the a the white house particularly that 3 1/2 trillion dollar plan. looks to me like democrat-only undertaking and looks to be votes short but it is early. what are you hearing? reporter: where the white house will turn next the 3 1/2 trillion dollar bill. that is the price tag that the democrats put on the bill. the center for responsible federal budget says the price tag could be higher than that in many cases politicians will have savings to pay for something, those savings never actually materialize. therefore that bill could cost a little bit more. there is a lot of open-ended
spending in the bill. the bill says our public debt will go to $30.7 trillion in the next fiscal year from 28.6 trillion right now. you heard senator john thune say but in fiscal year 2031, the debt will be $45.1 trillion. the president of the committee for responsible federal budgets, maya maginnis says this could mortgage our children's future. >> that could increase the interest payments we owe on the very large national debt, $3 trillion over a decade or $300 billion a year. that is as large as a major government program. so we are throwing this money at interest payments. reporter: now in addition to the public debt there, you see the reconciliation bill has $107 billion for the judiciary committee for a community violence intervention initiative. the money to invest in border security, work on a lawful permanent status for qualify
immigrants. the texas department of public safety lieutenant christopher oliveras works at the border, if you tell people they will become citizens by being in the u.s. you can imagine what will happen. >> now with this proposal, when the communication is communicated now that you come over to the u.s., now you will be a lawful citizen, those numbers will continue to increase. reporter: you heard chad say that the reconciliation bill language will likely take into the fall. we'll not see the language who could be in the legal status category. the president here, the chief of the white house press secretary told me that the president has no preference as to which bill comes first, infrastructure or reconciliation. back to you. neil: i hate to just throw this right at you, edward, we're just getting word right now that governor cuomo has announced he is resigning from the governorship. he tucked this near the end of his remarks.
caught a lot of people off guard. president biden recommended all the allegations came to light from the attorney general's report that he should step down. do we know, you know, edward, whether there was any updated conversation between the two? reporter: at this point we don't know if there is any conversation between the two but there was certainly public pressure. you heard up to even this weekend the president stressing that cuomo should resign sticking by the comments he said in the past. the white house press secretary also echoing that that the president stands firm what he believes if this report proves true therefore the governor should resign. the governor had no political friends basically at the end. you saw his closest advisors starting to resign there. there was really no avenue for him. the white house likely expected this. we'll ask, get an updated status from the president. we expect we'll hear from him later this afternoon.
we'll probably get a comment on this as well. neil: thanks for that. for those listening in, he tucked this in the end of his remarks. governor cuomo has decided to step down. that will take effect in 14 days. this as the wagons were circling in albany. legislators demanded by friday this week his legal team submit their positions on some of these allegations. the governor is continuing to speak right now. again this came as a surprise because for so long into his remarks he had not addressed that, even questioned some of the allegations from a state trooper who alleged he inappropriately touched her. let's listen to what the governor is saying now. how this will sort out. he will be stepping down in 14 days. >> even in these ugly, crazy times, i thank leader carl hasty and andrea cummings on their leadership.
let me say this on a personal note, in many ways i see the world through the eyes of my daughters, cara, mariah, kayla, 23 and 2twins, and 23. i have lived this experience through them. i have sat on the couch with them, hearing the ugly accusations for weeks. i have seen the look in their eyes and the expression on their faces. and it hurt. i want my three jewels to know this, my greatest goal is for them to have a better future than the generations of women before them. it is still in many ways a man's world, it always has been. we have sexism that is culturallized and institutional ized. my daughters have more talent and natural gifts than i ever
had. i want to make sure that society allows them to fly as high as their wings will carry them. there should be no assumptions, no stereotypes, no limitations. i want them to know from the bottom of my heart that i never did, and i never would intentionally disrespect a woman or treat any woman differently than i would want them treated and that is the god's honest truth. your dad made mistakes and he apologized and he learned from it and that is what life is all about. and i know the political process is flawed and i understand their cynicism and distrust and disappointment now but don't give it up. because government is still the
best vehicle for making positive social change. lastly i want to remind all new yorkers of an important lesson and one that i will carry with me for the rest of my life, and that's what you new yorkers did in battling covid. the enemy landed in new york state. covid launched the attack here. it came on planes from europe and we had no idea. it was an ambush. and it was up to new yorkers to fight back. we were on our own and it was war. nurses, doctors, essential workers, became our front line heroes. hospitals became the battlegrounds. streets were still and sirens
filled the city's silence. trailers carried the bodies of our fallen brothers and sisters but you refused to give up and you fought back and you won going from the highest infection rate in the nation to one of the lowest. no one thought we could do it but you did it. you led the nation and you showed the way forward and how you did it is what's most important. you did it together, not as black new yorkers or white new yorkers, not as lgbtq new yorkers or straight new yorkers or democrats or republicans or up state or down state or jewish, muslim, protestant, or catholic new yorkers but as one community, one family, the family of new york. you overcame the naysayers and the haters and the fear and the
division and you unified and you rose and you overcame and you saved lives! and that was powerful in its effect. it was beautiful to see. and it was an honor to lead. please remember that lesson. hold it dear and hold it up high for this nation to see because it is new york state at her finest, creating her legacy, fulfilling her destiny, giving life and animation to the lady in the harbor, saying excelsior, we can be better and be higher, claiming e pluribus unum out of many one, community, unity, love. that is our founding premise and our enduring promise and that is
the salvation of this nation that it so desperately needs to hear. thank you, for the honor of serving you. it has been the honor of my lifetime. god bless you. neil: all right. new york governor andrew cuomo has resigned. he was facing very likely impeachment and rather than the first governor impeached in nearly a century in the empire state he offered to step down. that will take effect in 14 days. the lieutenant governor will be taking over then, kathy hochul who said of the governor's actions, that they were repulsive and unlawful, types of behavior i do not want to see in my governor. she would replace him as the state's first female governor. charlie gasparino is joining us right now on the implications of all of this.
boy, the swift, you know, fall from power and popularity. year ago at this time, charlie, he was a media rock star. now on the rocks period. it is a stunning fall from grace. what do you make of it? >> yeah. and a stunning end to you know, very, you know, up until now very good political career. i mean he was possibly heading to the white house this time last year. some people were talking about a draft cuomo movement to make him the vice president of underbiden. obviously that didn't happen. you know, i didn't hear the whole speech. i heard the end he was talking about excelsior, the state motto of new york. a line his great father, mario cuomo used as a rallying cry for new yorkers but i thought it was, i only caught the end. there was a tone deafness here. this man is resigning under like a cloud that puts him in league
with some very bad actors, if the charges are true. you know i don't think that new yorkers needed to hear, we need ad rallying cry at that point. they needed to hear from him, i believe a reputation, if there is reputation, of the charges -- refutation. that is part of the problem of andrew cuomo there is a huge tone deafness with him. you could hear it last year before his career completely unraveled. it was toward the end of the year where he locked down the state again, basically said he is closing indoor dining things of that nature again amid a surge in covid, he was almost lecturing, not almost, he was lecturing new yorkers it was their fault that he had to do this because they weren't wearing his masks or they weren't doing proper social distancing. it was the oddest speech that i have ever heard. to me it spoke to a blind spot
in him that, you know, here is a guy been getting away with stuff for a long time and it is never his fault and this is and now, now he is caught. you know, it is, you know it also reminds me, i've seen this with wall street guys, you wonder why does a guy like, people like bear stearns or other places, why do they blow up towards the end of their career? there is something called moral hazard, neil, if you got away with doing sufficient for so long you have take more and more chances and i think that is part of andrew cuomo's career. he had some blemishes in the past. nothing ever came out. listen he was at hud whether they started to force fannie and freddie to secure subprime loans. that helped, that forced fannie and freddie into the predictment it was during the financial crisis, helped cause the financial crisis. he was never held accountable for that. he did some things -- neil: let me ask you then, let me ask you then, there were
reports going into today he was trying to cobble together a deal with albany lawmakers that he would not seek a fourth term if they let him finish out the term he is in. he is up for re-election in november of 2022 next year but that was going nowhere. so then the pressure built you know, for his legal team to go ahead and present its arguments to defend itself from the allegations that he harassed and worse these 11 women more to step up to say they too had, one described as repulsive dealings with the governor. so obviously the crescendo was building against him and he must have read the writing on the wall and stepped down but do you know when this might have come to reality here? with new woman coming to the surface or the fact that he realized, you know, with seven out of 10 democrats in democrat
dominated assembly legislature inclined to impeach him there was nowhere to go? >> well i spoke with someone this morning who deals with him a lot on business matters. i won't say the person's name. he said he was going to go soon. and i said why? he basically said this weekend was, he was still ready to fight it out but he was going to go soon because there was nobody but his lawyers that he could turn to at this point. now you have to ask yourself why is that? and you know, people, you know, is there truth to these charges? and if there is truth to these charges you know, this is, you know, he is going, he could face maybe not criminal charges, maybe, the albany sheriff could basically there, has been a criminal complaint filed against him. his problems were getting worse by the minute and, i think the,
the people that looked into these charges that i know found they believed that there was, there was more fire than smoke. that you know, maybe some of the charges were pile on but there was a lot of stuff that was going on behind the scenes that you know andrew cuomo treated, treated the governor's mansion as if he was not the governor but the king and that was something his father would never have done, i know that for a fact. and again i want to hear his side of the story. i have known andrew cuomo for a long sometime. i don't necessarily dislike him. i know his family. i know his brother who i like but he needs to, he needs to address these charges because it is going, if he does have a defense we all need to hear it. we don't need extolling virtues of excelsior. that is one of the problems here, he is denying stuff but
never formulate ad defense if you think about it. tish james report comes out no, i didn't do that. i didn't do that. we need to hear more than that. here is what happened. we didn't get that. i think that led to sort of the snowball effect that it is. you know, i want to say this as someone who again knows chris cuomo very well. you know chris i think made a mistake in helping his brother but his brother put him in a really bad position. i mean this is, i mean he put him in a position that you know, if he did some of this stuff and then he asked his brother who is public person to support him at a media company, man, that is really, really bad, because he put chris in a very bad situation right here. this is -- neil: we don't know that. we know chris cuomo gets a lot of grief but i think it is your own brother. it is very hard to -- outside of that what he should do.
>> i know. neil: he is a good man, all tha, it is what it is. i want to pick your brain here before we go to a break, charlie. the lieutenant governor in 14 days to complete roughly the year and four months of the governor's term. in 2022, it is not a given she will be that party's, democratic nominee for groff. even the state attorney general who submitted this report could be a candidate. so it could be a crowded field, right? >> it could be crowded. does that sound, that's why i have to admit my first reaction to all of this it was political. trish james wants to be governor. of course she write as report that destroys the career of a sitting governor. it had me thinking. but again, you know, there is some serious charges here that are not debunked at all. that is one thing. the other thing the state has gone very, very leftist.
i think this is what will be interesting. andrew cuomo's sold himself to the business community in particular if you notice. he got lots of money from the business community, fund-raising, during when this stuff was going on, he was like, listen i'm the last man standing between total anarchy. if you look who runs the democratic party which controls the state, these are out and out aoc socialists. if it is not me, you got them and they're going to destroy this state. that is why the business community always supported him. didn't abandon him until the then. it will be interesting to see how they react to this because it is very possible that we can get aoc-like governor. that will mean aoc types will be controlling the assembly. neil: we already have, think about it. we already have, right? if you think about it the governor beyond against his better personal instincts to go ahead to raise taxes on those earning over a million dollars.
i think that lifted the top rate in new york to 9.65% from 8.82%. the governor earlier said he wasn't keen on doing that. he caved on that, some say ahead of all these investigations, nursing home stuff. >> right. he would say -- neil: appease lawmakers. i'm just wondering now, since what cursed him he got budgets done early. that is unusual for a governor, republican or democrat but this one was put to bed, the higher taxes and all and he had swung quite dramatically to the hard left on these high taxes against his better instincts. i'm wondering whether the lieutenant governor follows the same approach? it is already etched in stone. these increases are now taking effect. i wonder if there will be anything different? new york's obvious importance as the financial capital of the world the governor's huge input in that record in keeping people here in a high-taxed environment that already prompted some
investment houses to seek out lower tax confines. i'm wondering where this all goes? >> those are great point that you made. i'm telling what you cuomo said and told business deals. i cut a deal and it could have been a lot worse. i'm not saying i agree with him. i know he said that because i know to people that spoke to him. listen, here is the bottom line, we should point out eric adams who is definitely a political moderate, particularly on economic issues is likely to be the mayor of new york. so the state has not gone totally left-wing but you know it will go significantly to the left and you know, maybe this is good for the state in this sense. you get to see exactly what the left-wing of the democratic party wants to do to the business community and to jobs in this state, you get your just rewards, you either vote them out or move out. let me tell you something, with him out of the way, with andrew
out of the way, it will, you will get aoc on steroids. and i don't think this new governor, i don't know much about her. sheave doesn't strike me as someone that was you know, that is going to stand up to left vociferously. we'll see. maybe she will surprise us all but new yorkers are in for, in for a rude awakening. i'm not saying he shouldn't resign because of that. this is not, you know, this is not binary. if he did what he did he should go. i mean that is bad stuff and there is a lot of evidence there to he did what he did and it is amazing turn of events. i almost i've never seen anything like that. we keep saying. amazing. neil: first governor to step down since governor spitzer. that involved -- >> i covered that. i remember that one well. i covered that. neil: here we go. thank you, my friend, very, very much. for those tuning in, new york
governor andrew cuomo announced he is resigning, take effect in 14 days quoting, under the circumstances the best way i can help right now if i step aside and let government get back to government. therefore that is what i'll do because i work for you and doing the right thing is doing the right thing for you and doing that right thing means in 14 days i will then be former new york governor andrew cuomo. stay with us. you're watching fox business. ♪. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be.
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♪. neil: you know, people ho are under the type of pressure that andrew cuomo is in new york have to decide something wait out an impeachment process or resign ahead of it if it doesn't look good for you, history tends to suggest that the grimmer things look on the impeachment front the more likely you go ahead and
step down. richard nixon realizing that the tide was turning for him in 1974 after the house voted articles of impeachment and the senate looked ready to do the same, take up an impeachment trial decided to step down. governor cuomo was in that same conundrum, either face, have the fight or just step down to avoid it. he has chosen the latter and he will step down in 14 days. he lost a lot of democratic support including from the president of the united states joe biden only last week recommending that he should step down in fact if some of these charges stick, that he should also be pursued on those levels but it was some of his most steadfast allies in new york state that ultimately doomed him. one was the assembly speaker carl hesaty of the bronx. abundant to me that he lost the
confidence of the democratic majority that he can no longer stay in office. the state assembly and legislature are dominated by democrats in the empire state over well mingly so, virtually seven out of 10 democratic leaders wanted him to step down. eight out of 10 new yorkers in a recent marist poll said much the same. all types of persuasion said he should go. danielle dimartino booth, former fed advisor, danielle, i would love to tap your expertise in another area. we often times forget how important new york state is as financial capital. home to all the big investment banks and the money crowd and who runs that state is important and now we have an unknown, lieutenant governor coming in, some would say she would just be a caretaker in the meantime for the real heated contest in 2022
but i'm just wondering since new york had already put its budget to bed, it got a lot of federal funds from nightmarish cuts and the like, bottom line it is increasing taxes on the wealthy, the surtax on the wealthy, none of that is going to change. so people who expected maybe in this development that all of that goes away, it is not. it is etched in stone. or etched in stone as policy can be, right? >> it is. and you know i think there is something to be said for whether or not there is bitterness. if you look, especially with the reserge ends of the delta and some banks are starting to say we'll not call some employees back in the office. the tax situation exacerbates that, neil. import of new york, new york city alone is 9% of u.s. economic output, 9% of u.s. gdp. you know, it cannot be, the, from where i'm sitting in texas
so many new york companies have been relocating thousands of employees and expanding here and i think it is going to be, the onus will be upon the new, the current lieutenant governor as well as whether or not she rises up and stays in a position to run in 22 or who the republican candidate is, because the winds of change in new york could bring about a change of leadership a change of party in albany. neil: you know we were focused on the new york mayoral election here. eric adams, they call him moderate. i think compared to maybe the present city hall occupant is moderate. he is 20 year police veteran i get that, but if we talk about the winds changing, that would be a slow process that mean the lieutenant governor is unknown entity. i should know more about her. i'm afraid i do not. we're efforting some of her policy provisions.
she was very critical of the governor when the charges came out and were horrible charges and all that, to your point, the thought there will be a pell-mell change in thinking or leadership change in new york might be a bit too soon? >> it might be, neil, but the damage to the city, i've been up there five times in the last few months, the damage to the city cannot be understated and you know, again i think it is going to be, i think that the wall street and financial sector i think there will be a lot of quiet backing of whoever is going to be able to, enact the deepest changes from albany and coordinate with new york's new mayor that will be critical. 2022 may seem to be right around the corner but strange things can happen in politics, especially against the backdrop of this delta variant that is putting the best you know, the best incentives, people like jamie dimon, goldman sachs, saying everybody back in the office right now. let's support the city's
economy. that is changing a little bit. so again, neil, i would pay attention to what goes on in the background. i will applaud the lieutenant governor, suggest to everybody who did not read peggy noonan's coal lump over the weekend, went into her background a little it, read peggy's column, it was fantastic. this lieutenant governor has a strong constitution. if she was willing to stand up to cuomo we don't know what will come of her but we do know we need strong constitution in all state governments. neil: yeah. we should point out as a former buffalo representative in her own right the lieutenant governor was concerned about that surtax on the wealthy. i think at the time she had mentioned that would also include a lot of small businesses. that was a big concern of hers from the buffalo and lackawanna, upstate new york area but you mentioned another interesting point and it concerns those who invest in new york.
i mean you talked about the virus and now all of sudden the spikes in cases that is demanding those who go to restaurants wear a mask, have proof that they, you know have been vaccinated or testing negative for the virus. i'm just wondering how that goes? it might delay as well, in person returns to offices, cnn is delaying its office return for workers at least another month, echoing what a lot of companies have been doing. so far not as many in the new york area though i imagine that will happen as well. there will be these delays. so it's a staggered comeback for new york, isn't it? >> it's a staggered comeback for new york and new york was on its knees to begin with, neil. i think that is what most people need to understand. not everyone in america is driving around midtown seeing how many storefronts are boarded
up and closed and permanent. this is a permanent loss of economic growth. the onus is upon private companies in america to look to the example of 60% of all things u.s. public school districts that did a great job of in-class learning throughout the entire last school year without any major risks posed to the teachers, the staff, and the students. if that can be done in a u.s. school, neil, it can be done in a private company easily. there are many examples that have good precautions, good protocols in their office environment and i think that new york city should look very hard at trying to bring as many people back into the office and revive that economy that i love so much. neil: all right. i want to thank you very much. we switch topics on but you were perfect to address some of these financial concerns paramount right now no matter who ultimately is running and controlling the levers of state government. with us now, the former three-term republican governor of new york state on the phone
with us now, george pataki. governor, very good to have you. what do you think of all of this? >> neil, it is a sad day for new york. it had to happen. of the handwriting was on the wall, if the investigations were allowed to be completed by the legislature he would be impeached. this was not a act of courage. it is sad day for all new yorkers. neil: we have a statement from lieutenant governor kathy hochul. i agree with governor cuomo's decision to step down, the right thing to do. as someone who served at all levels of government and next in line of succession i'm prepared to lead new york state's 57th governor. she will be as you know the first woman in that position in the empire state. what do you think of her? what do you think of her reputation, what you know of it, what do you think? >> we just don't know. you know i know her background. i know she was in congress. she comes from western new york
and had relatively centrist for a democrat record but how that translates into how she is going to act as governor we just don't know. i'm an optimist by nature, neil, as you know. hopefully she will change things dramatically, bring a breath of fresh air to albany but i can tell you this is new york and the odds are overwhelming the day she becomes governor or even this afternoon, there are dozens of people thinking of running as the democratic candidate for governor next year. so there will be primaries, there will be political infighting. i'm sure it is starting right now. so hopefully she will have a period where she can clear the deck, get rid of that horribly toxic environment that albany has been the last few years and get off on the right foot but there will be a lot of political pressures from all sides here. neil: you know, governor, we always talk about, even when you were governor, we would chat many times, that this notion
that new york is a global, of global importance, not just the city, the state itself. called the empire state for a reason. it is also, in the case of new york city and new york state in general as the financial capital of the world. obviously you were cognizant as a three-term governor yourself, you don't want to do anything that could jeopardize that or drive people away. but between the high crime in new york and the higher taxes, in fact, one that the governor, governor cuomo just wrote off on a couple months back that includes a surtax on the wealthy, it has become a very, very prohibitive environment. is it your sense that the lieutenant governor would, or even want to change any of that? >> i would hope she tries to do it right away, neil because new york is really hurting economically. as you mentioned crime is through the roof. the quality of life, whether the mentally ill, homeless on the streets or the subways not
working right has declined significantly. the tax burden has been driven up during the cuomo years to the highest in the country. and we have now the crisis with covid, people don't want to go back to work in congested spaces and high-rise office buildings. i to in my office fairly regularly, more than once a week on average. there is nobody there. and we need to have albany send a very clear message, not just about the next mayor, it is about the next governor as well that we're going to dramatically change things, improve the economic climate, deal with the criminal crisis we have, not just in the city but across the state. deal with the mentally ill and homeless. we want business to come to new york. we want them to stay. we're not just going to wave good bibecause we don't like their politics. neil: i'm curious, governor, what republicans do in this environment? as you say an overwhelmingly
republican city and state. you were a little-known mayor of peekskill, new york, you decided to challenge the godfather of democratic politics, andrew cuomo and you toppled him. i think anything is possible. i know when curtis sliwa was here, new york republican mayoral candidate he quoted your rise as something that could be repeated but can it in this environment? do you think it can be repeated? >> yes, there is no question in my mind that the republicans have a real opportunity to win the governorship next year. what you need, neil, you said it right, it is an overwhelmingly democratic state, but what you need enough democratic voters who say they cannot tolerate the direction of the state with the current leadership and they want a change in direction. neil: governor, do you think that changes with time though?
i think misspoke, mario cuomo, andrew cuomo's father who you pop telled. >> right. neil: what is interesting, is it the three-term thing, enough already, no matter who you are, that people tire of you? do you think that was part of what was undoing governor andrew cuomo? i don't want to take leaps here. i am just curious it has not been a good track record for those after three terms going for a fourth? >> neil, i think that is absolutely right. there is truth to that, voters get tired of you after a period of time. i think next year the democratic party will have a brutal battle. in hochul continues her background presenting her as a more centrist, moderate democrat, there is going to be, there are going to be primaries from the left. i can see bill de blasio, who is a horrible mayor, primarying her, having a chance of winning if he is the only candidate from the far left. if one of those candidates wins the democratic primary, i say
there is a good chance they could, a republican has a tremendous opportunity to win the governorship. i wouldn't give it up, write it off, when i look at the future of this state, when i look at the problem of crime, taxes quality of life, the collapse of the education system really in new york city has gotten a lot worse, it creates a tremendous opportunity for republicans regardless who the democratic candidate next year is. neil: governor, thank you very much. always good chatting with you. thank you for your service to the new york state as well. governor pataki on all of that. for those just tuning in here. if you're looking for a wall street response to the governor of new york, you know, stepping down, you're probably at a stretch to find it. the dow was up purple digits before this news, still up purple digits. probably more influenced by the acceptance, passage of a infrastructure-only measure, i say only, about a trillion dollar measure that now goes to
the house for an uncertain fate, whether tied to a far more expensive 3 1/2 trillion dollar measure but fact of the matter of the financial capital of the world a new sheriff in town, in albany. we know very little about her. we know new york has the first female governor coming into power instantly. she becomes one of the most influential players on the planet. looking at that, the implications what she might do after this. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing,
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♪. neil: you know, if you think about where governor andrew cuomo was in the public sphere about a year ago, there were a lot of people who were pushing him to run for president. there was concern that joe biden was stumbling out of the gate. that the democrats were losing an opportunity to win back the white house, and you know, his daily and extended briefings on covid and the spike in cases in new york and how he was handling that, were sort of seen as a modern day fdr firechat.
fdr himself a former new york governor. that was then, this is now. he is out of there. he will be stepping down in 14 days but the virus ironically he gotten so much acclaim and notoriety, still sticks around in new york. spikes in cases leading a lot of companies pushing back in-person returns to office. let's get a leader from a doctor, chief medical officer, neuroscientist thank you very much for taking the time. i do not want to draw you into political debates, nor should i. i think that would demean your fine brain, sir but i want to get your sense of spikes we're seeing, not only states like new york but i think there are 11 of them by last count have seen a serious spikes of at least a million cases. what's going on? >> well, first of all thank you for having me on your show and no topic is obviously off the,
off the deck as far as i'm concerned but coming back to where we are we're seeing these spikes because we have a large number of people who are unvaccinated. only half of the united states is currently vaccinated. so you are seeing pockets where there are unvaccinated people in large numbers, you're going to see tremendous spikes in terms of hospitalizations and unfortunately deaths. my concern if this is not brought under some significant control we are likely to see the development of new viral strains which might be even more lethal than the current delta variant. we will see spread into children. we will see spread into all parts of society that have been relatively less affected. we will see an increase in suffering whether it be addiction, whether be homelessness, mental illness, anxiety returning to work.
therefore we really need to try and do all we can to prevent this coming next pandemic. neil: do you think this is getting as worse as it is in asia, china, where they're actually reimposing pretty severe restrictions, the likes of which we last saw in the height of the pandemic? is anything like that possible here, doctor? >> unfortunately i think unless we change our ways and we adhere to proper mask mandates and get vaccinated we are headed that way, unless we mr., somehow extremely lucky because the data don't lie. in fact you can look at what has happened at countries that have relaxed too early like great britain. in fact there was a tremendous spike in terms of illnesses, in terms of deaths and that alarmed the government into coming back, reaching increasing restrictions. now these restrictions are off
again. travel is beginning improve across the united states and abroad. that will begin to spread the virus. neil: i got you, sir. i'm jumping on you rudely because of all the breaking news but i want to thank you for taking the time. hopefully people will get the vaccines, protect themselves and everyone around them. doctor, thank you. by the way we're monitoring jen psaki, at white house briefing right now saying that the president's views on andrew cuomo remain the same. nothing has changed. has not spoken to governor cuomo. you might recall early last week when the lieutenant, i'm sorry, when the state attorney general's report had come out that he had said better part of valor would be for the governor to resign and he has effective in 14 days. ♪
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neil: all right, well, apparently, the governor of new york surprised everybody by tuck ing deep near the end of his remarks his decision to to resign the governorship in new york. andrew cuomo doing so promising that he will step down in 14 days, and that the lt. governor will be taking over. kathy hochul, who will now become the first female governor of new york, in its history, we should also say that the white house was caught unaware on this
even though the president himself had recommended that the governor step down. we're told that no one had a heads up on this including the president. he's not spoken to anyone about this , nor indicated right now that a call be ensuing with the governor to quote jen psaki the white house spokesperson on the possibility of that "no plans that i'm aware of" welcome back, everyone at the top of the hour, 1:01 p.m. eastern time in these united states, the governor is stepping down, and at a time right now where there's a lot going on. not only in new york, of course, but in washington, a huge infrastructure package, by the way, a big beneficiary be the state of new york. you know, as far as roads and bridges and highway, construction that was urgent need that the governor had pushed to get a lot of those funds and a lot of them heading new york's way which they will, that is if the house takes up its measure and there's no guarantee that's the kind of
a convoluted affair. i want to get into that with brendan arnold, the national taxpayer's union executive vice president and brandon, thank you , as always, my friend, for juggling so much including this breaking news and your patience throughout. let me get first of all your take on that infrastructure package, because you think about it for big states like new york, it was a pressing concern, they wanted and needed, they said the money to fix a lot of roads and bridges, of course certainly in the new york metropolitan areas you're quite familiar need some fixing. i'm just wondering does it make a difference now, that the governor is stepping down, the funds are the funds, they were likely coming their way, i don't know how the house plays this out. >> the funds are the funds like you said still flowing to the states based on the formula they've laid out in the legislation, so nothing has changed there. there are additional policies that they are battering around like eviction moratoriums that may affect cuomo if he's forced
out of the governor's mansion i don't know how that applies but the funds will still flow to new york like they were promised to do so the question is as we're passing an infrastructure legislation, of course, and spending a trillion dollars, it's what's going to happen to this nation's finances because they promised, of course they wouldn't raise taxes, and that they still be fully paid for. of course they did not live up to that promise. there are tax increases, albeit a small one $14 billion, and then the bill does not, the offsets don't match up to the spending levels. it's going to conservatively increase the national debt by $250 billion. neil: it's more maybe in the $3.5 trillion human infrastructure package that there's some concern about those tax hikes, because that's where those were tucked in i'm talking about the higher corporate rate bringing it up to 28%, maybe, and the top rate close to that where it was at
around 40% but that's heavy lifting, right? there's no guarantee, especially if it's just democrats alone, pushing this , that even they have the votes. what do you think? >> yeah, i think that's right. it's a pretty steep up hill climb and nancy pelosi has made it a lot tougher if we're being honest here. they could get the infrastructure deal to 500 or $1 trillion bill depending on how you look at it. they could get that done in the house if they wanted to but what she's decided to do is tie that to the larger package the $3.5 trillion vehicle, which is a lot difficult, that's a really difficult needle to thread because you have some difficult issues like the salt deduction which plays in new york very very heavily, because new yorkers and californians and people who live in high tax states blue states typically, those high tax states get a big benefit out of salt and there's been so much from various members of congress they will only pass an infrastructure bill if it includes those fixes, and
the margins are so very very thin that that gives people like me who thinks this bill is an absolute disaster when we kill jobs and exacerbate our long term debt problems, a little bit of hope because i do think there's a chance that we could defeat this bill playing on some of the in-fighting taking place within the democratic party. neil: one argument and this is my opinion, brandon so you should probably run the other way i'm probably wrong but i think much of the market's resilience has been sort of based on this notion that the tax increases are at the very least delayed. they might still happen, don't get me wrong but they're not a guarantee this year and i think the markets, i don't know whether that was digested a couple of months ago, but it seems remarkable that they have been able to weather all of this , even with tax increases coming, maybe because they don't think they're coming at least anytime soon. what do you think? >> yeah, i think that's right. we saw the markets doing quite
well today on the news of the infrastructure bill because they like infrastructure, broadband, roads. neil: they like spending, right? they like spending moneys money, right? >> they don't like the tax increases so the next vehicle as debt starts to move i think that's where you may see a little bit of skiddishness in the markets when you're talking about raising that corporate rate from 21% to 28%. when you're talking about taxing capital gains, investment earnings, as regular income instead of having the preferential rate of 20% applied to those. when you're talking about more aggressive treatment of pass through entities, higher taxes, and onerous reporting requirements of the irs. these are all things that are going to make the markets a little bit more nervous and probably dampen the exuberance taking place today at least. neil: you know, brandon, it is a political question so i'm sorry for that, but do you think it makes a difference who is the governor of new york? it's lt. governor who obviously parted company with him over
these allegations from these women calling it deplorable allegations at that, but anything will change. new york is what it is, a financial mecca. it will likely remain that, i suspect, no matter who is running things out of albany but what do you expect will or could change, if anything? >> i mean, i think that's a very fair and appropriate question and yes, there is a chance that if there withs an a oc-type socialist individual in the governor's mansion that that could have a big impact on what is already a trying time for the state of new york and the city of new york, because people are leaving. people are leaving because they keep raising tax, because they keep applying more onerous regulations, because the government policies in that state have been pretty bad, and they could be a lot worse, cuomo is kind of a moderate democrat as you know well, but if you had somebody that's more further off to the left that's imposing things like financial transaction taxes, which had been floated and have been
received are very sharp rebuke from stock exchanges, those policies would increase the flight of individuals out of new york to states like florida and texas and elsewhere. neil: all right, brandon arnold national taxpayer's union executive vice president, thank you for sticking around on this busy news breaking day. i want to go back to charlie gasparino working the phones on all of this. charlie, brandon mentioned something very very interesting, you know, that that new york transaction tax on stock trades and the like, got to the point you might recall where the chairman of the new york stock exchange, she said, you know, they could seek out safer confines of the results if they went that route. that was something that was more liked by the super progressive wing of the party of the aoc, mayer deblasio, new york city, didn't go anywhere for the time being. i'm just wondering whether any of that changes now, or what are you hearing? >> well, yes, it does. and you know, that's what andrew
cuomo has been arguing. that's why he had a lot of support from the business community up until the end, because he was like i'm the last sort of wall between the loonie s and the destruction of the state, and he would say that he helped fight back some of that stuff, and that he cut a deal with them on something and they left that out of it. what's also interesting about it because i was listening to your conversation about how this ties in to the stimulus, the infrastructure package, is that remember, if one of the , i think the cards that andrew cuomo thought he had was that he be earmarking a lot of that stimulus money, the infrastructure money, to various places in the state, so he could hold that over the various assembly people and state senators to try to get them to cut a deal with him, like if you do me a solid on this one, your district can get more money. people were talking about that
as one of his cards. obviously, he didn't use it, because he's resigning and what i guess we could say is that he got so toxic at the end, that some of the , i mean, these state senators and assembly people are generally political hacks, right? but even the hackiest of the hacks couldn't be bought out by andrew cuomo at the end, and so that's why he had to resign but that's one of the cards he was going to use from what i understand, that infrastructure money, and how he can earmark that to the various places, so it's funny like his support literally crumbled and has been crumbling for days now. i am surprised he left the way he did. that speech was very odd, neil. it was, to me, not a speech that he should have been giving right now. my guess is he needed to do something short and sweet, or you explain to yourself that you didn't do it and you'll fight the charges while you're
out of office, and, you know, the calling us for exelcier, which was a term used by his father about how new yorkers strive for the highest was kind of an odd thing to say when you're in the middle of this , so, we have 14 days. maybe he'll come back and start explaining himself better, but if he doesn't, this , something else here that's troubling, that i feel, again, i want to come back. i do feel badly for chris. his brother has a public career, and he put his brother in a really tough spot. now, i guess you could say chris said no but it's hard to do that with your brother and if andrew really did some of these things and he asked his brother to help him craft stuff and be part of his inner circle, man, that's pretty cold. i'm sorry. neil: a brother might do that
anyway. i always think when chris cuomo is criticized on this subject, it's his brother, for god's sake charlie: i know, i know. neil: it is what it is, but probably gets me in some trouble but it's his brother, so anyway, be that as it may. thank you very much my friend. i do want to go to this guy has more influence on where we are right now than you think, because you hear about the cascade of democratic representatives in new york who to a man and woman filed on against the governor but if you think about it, my next guest back in march, had introduced a bill that would give the state attorney general new powers to investigate violations of the state's public officers laws again, without any referral by the governor, talking about democratic senator retired prosecutor todd kaminski, nice enough to join us today. senator, thank you for coming. >> sure, thank you. neil: you know, i don't think
it's any small note to say that you started something and obviously, it gelled into what has happened now. did you ever envision then that this is where we be now, that the governor be stepping down? >> you know, if i have trouble speaking during this segment it's because part of my jaw is still on the floor. i don't any anybody saw what was going to happened to, especially because his lawyer went out and gave a spirited defense, you know, trying to knock the ag's report and the governor himself started speaking about his conduct in a defensive way and then he really just turned and made a real u-turnabout why he couldn't go on, but this is a sad day for new york. i was a former corruption prosecutor. you can go back and talk about the head of the senate, the head of the assembly, the former governor, the governor before that one. people seem to walk out of albany in either handcuffs or in disgrace and there are a lot
of institutional changes that need to be made. the fact that we have an ag who can't launch her own investigation into anyone, let alone the governor and has to ask for a refer l to do that is crazy and hopefully we'll get institutional reform but i do have a lot of faith in kathy hochul, the incoming governor. she's underestimated her whole life, a very nice tough person very competent and she's been working in the shadows for years , working long days, chris-crossing the state, but she's great and i've got a lot of faith in her and we all should give her the benefit of the doubt and try to work with her and lift her up as she comes to office facing tremendous challenges. neil: you know, senator, maybe the media jumped to try to label someone or what their politics is, working for a democratic governor, the assumption is she shares all of his politics but she did start out in the upstate area, in the buffalo , new york area, a lot more moderate representative back in those days. we do know a little bit that she
wasn't keen on this tax for the wealthy. i don't know how she expressed that at the time it went into effect. i'm just wondering what differences you see with her leading the state. that budget as you know has been put to bed. it's done, so ises sir tax and everything with it i'm just wondering what kind of changes you might envision out of new york's first woman governor. >> so you already know i come from a purple area as well, so does incoming governor kathy hochul, and she won a congressional district so she's from a purple area too and a moderate by nature and she will have to learn to govern the whole state with some of the different financial transaction taxes, stock transfer tax, capital gains, there's all types of activists in new york who want to institute a lot of these things and many of us pushback on and that's certainly going to be something that she's going to have to grapple with but she's certainly moderate by nature,
and importantly, i just think step back from all of this today , is a really good lesson about things our grandparents taught us like the people you see on the way up are the same people you see on the way down and it always pays to be nice and kind to everybody and i think that lesson should radiate out across the world today in a lot of what we're se. neil: yeah, i think that's a very good bipartisan reminder. my dad used to say senator, you know, neil stay humble in your case, it will come in handy so i think we learn something, and reminded about that on days like this , but sir, thank you very much and it was very nice of you to stop by. >> thank you. neil: all right, senator kaminsk y. wanted to update you on a couple things up about 150 points growing optimism that with the relatively easy passage in the senate, and infrastructure- only measure, could and likely be approved in the house but this is up to nancy pelosi, because she's kind of wedded it to this other measure the $3.5 trillion
so-called human infrastructure package for which there is zero republican support. very very doubtful that even the numbers could be made up with democrats only voting for it, but the idea that this might put off tax increases which are in that measure not this trillion dollar infrastructure measure might be one of the catalysts for stocks right now, the tax increases might still be coming, but they might not be coming nearly as soon as people think, after this. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads.
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students and teachers to wear masks, and that defies an order by the republican governor greg abbott there. casey stiegal has more from dallas. reporter: breaking san antonio leaders filed a lawsuit challenging texas governor greg abbott's emergency order which prohibits local governments or school systems from creating their own covid mask and vaccine mandates. that lawsuit basically asks for the local leaders to be allowed to develop their own protocols, especially when it comes to face coverings in public schools, regardless of the governor's orders some districts, as you said, like here in dallas and also down in
austin, well they had already mandated masks for all students and teachers, openly defying abbott. right now, it's not clear what penalties dallas or austin isd could face. houston school board expected to vote on the issue this week. others like fort worth and richardson texas, well, they're following orders. >> masks have been optional. as you are aware that's the governor's order which does have the force of texas law. reporter: similar fights are also shaping up in florida as you may know, after governor ron desantis put a similar policy into effect. this one threatens to withhold the salaries of superintendents and school board members if they don't comply. regardless, at least six counties have ignored those requests, and have enacted some sort of a mask mandate for the upcoming school year including miami-dade. several lawsuits have even been filed with some parents claiming that these last minute decisions have put them in a bind.
listen. >> it's just a slap in the face to parents like us who are sitting here with 48 hours to go , you know, trying to less than that, trying to figure out what are we going to do with our kids. reporter: of course we have reached out to governor abbott' office for comment about the san antonio lawsuit, for instance, but we have not yet heard back. neil? neil: casey, thank you. to dr. michael anarosa right now , i hope i'm pronouncing that right, doctor, the dallas independent school district superintendent. thank you for joining us. what do you make of this , sir? >> well, neil, you got the name right and so i appreciate to have the opportunity to talk to you again. this is difficult, for all of us, and you know, just like the governor has the big state to run with a lot of complexities, i have a big school district to run with a lot of complexities and i just want the local control opportunity to make the decisions. in fact, my man date is temporary and i hope i can lift this by labor day. i'd really doubt it, but
whenever the conditions get back to where they were in june, when we ended the school year i'll be very glad, i personally don't like wearing a mask but i will in this kind of context, and so we're going to play this thing out and we're not trying to be harsh or defiant, but we got to take care of our children and use all of the tools that are available to us at this point. neil: now you've encountered obviously some parents not too pleased by that, and they don't really like the idea of saying especially younger kids, they have a devil of a time keeping a mask on let alone concentrating in school with one on what do you say to that? >> well, neil you got a good point there and that's why we needed another tool in our quiver which we're not allowed to have which is to have virtual instruction for those parents who just do not want to send their students there. there was legislation that failed at the 11th hour that if we had that tool, then those parents be very comfortable to get their student s learning, now, we know that virtual instruction only works for about 5% of those students and for those 5%
we want to do that and so we just don't have that opportunity right now, so we're trying to look at our toolkit and pull out everything that we can because our kids are behind, we got to get them caught up, and in- person is best and if you're going to be there we expect you to wear a mask. neil: all right, now, the odds of kids getting the virus, as you've heard, obviously, superintendent, is very very low , so that this is an over reaction, which i guess is a take that the governor is having in some of these protesting parents are having. what do you tell them? >> well, some parents have already saw some lawsuit against the governor and you know, there are no hospital beds left in public hospitals for children right now. i've got that word yesterday from our county officials, so there are a lot of competing issues coming here, and these are tough calls for everybody, but we got to do what we believe is in the best interest of our local jurisdiction at this point and i'll be glad to revisit this when the situation gets
better. neil: but it's interesting you said at the outset, doctor, that it is possible that by labor day things could change and you might not have to keep this policy, right? how confident are you of that? >> i'm not very confident at this time, i'm very hopeful that that would happen. if it gets better i'll be glad to pull the trigger and pull it back off. i'm afraid it might go a little bit longer, but whatever it takes, you know, we'll pivot. we're making these decisions based on the best information that we have available at our fingertips on a moment's notice. neil: all right, dr. michael hi nojosa, thank you very very much for that please keep us posted we appreciate you taking the time. i should bring to your attention that 11 states now are reporting at least 1 million new cases of the virus. they include texas and california, new york, new jersey , pennsylvania, florida, illinois, north carolina, and michigan. each and every state is responding a tad differently to these developments, again in the dallas area the issue is
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neil: all right, we are waiting to hear from president biden on this infrastructure measure that passed under votes from both republicans and democrats in the senate, where it goes to from here, is anyone's guess, so chad pergram was kind enough to rejoin us maybe handicap what is next, as we wait to hear from the president. chad, explain this process now, because the house thing isn't such an easy slam dunk. explain. reporter: that's right. well what's going on right now is something called budget reconciliation instructions. this is a highly technical term in the senate but what the senate is essentially doing right now is preparing a frame work so after they get this bill or bills, remember there's two bills we're talking about here, the bipartisan bill and then the larger $3.5 trillion bill back from the house of
representatives, the senate, democrats can move this on their own and not face a filibuster. the way you do this is under the budget act of 1974 there's a provision in there when you do a budget resolution, you can go through and put things that are fiscal in nature in that package , so you could put things that deal with tax revenue. you can deal maybe, some liberal democrats think immigration, because that has tax and revenue consequences so that's very important, and you avoid that filibuster, keep in mind as i always say it comes down to the math, there are only 50 democrat s in the senate so you're not going to be able to get 60 to crack a filibuster. you do this on your own, you hopefully if you're democrats keep all 50 members together and break that tie with vice president harris so what's going on right now and this just happened since we were off the air last hour, neil, is the senate formally moved to that budget resolution, they passed it 50-49, in fact vice president harris was in the building, they did not need her vote, because mike rounds,
the republican senator from south dakota, is out, his wife is suffering from cancer so the vote was 50-49 so they were able to get that budget resolution started, and what's going to happen in the next 24 hours here is something called a vote-a-rama, which is literally where you have a series of votes that sometimes last 12-15 hours on the senate floor, on every possible amendment and both the campaign committees in the senate the democrats and republicans weaponize these votes to run these against vulnerable democrats and republicans in the next election cycle, so what happens next. they deal with this and then the house, the question is, does the house of representatives come back later this month and start to tackle this? again, they have two options here. they have the $1.2 trillion bill which was passed in the senate around the noon hour today and then they also have this larger $3.5 trillion bill that deals with human infrastructure which has not been written yet, and this is a long process and as i say, this is probably why it's going to take until fall.
chuck schumer, the democratic leader in the senate said his goal was to move at least some of this through by the 15th of september, neil. neil: you know, i mentioned earlier, chad, the possibility that stocks are racing ahead through all this craziness on the notion that maybe those tax hikes, they still might be inevitable but they aren't inevitable, that they might not happen this year. what do you make of that? reporter: it's very unclear, because you know, you have democrats in the house all over the map. you have moderates who want to do the bill one way. you have progressives who want to do it another way, as things stand right now, there is a three-vote margin in the house of representatives and just because you can get something through the senate doesn't mean you can get something through the house of representatives and vice versa and so nancy pelosi, as you well know, her calling card is passing big votes with one or two-vote margins. big bills look back at the first version of obamacare, in november of 2009 she's the best whip counter in the building but
she's never had a caucus that's quite as diverse so how she threads that needle is unclear and that's why nobody knows if those tax provisions are going to be in and out. look at the fight we had over the past week and a half over cryptocurrency. something that was completely off the radar until just a few days ago and that became issue a number one on capitol hill. neil: doesn't take much, chad, thank you very very much, for that. before i get to my next guest, our charlie brady our stock senator here he's a genius with this stuff monitoring wall street reaction, specifically in certain sectors on this infrastructure vote, and sure enough, anything and anyone , any company, tied to infrastructure doing very very well as are all of the markets, the dow and the s&p advancing in this environment as well, but among the big gainers today, of having gains of at least 9%, new core corporation, alcoa, steel dynamics big aluminum
players, vulcan materials, eagle materials, down to construction and engineering which include the likes of construction partners of about 4.5%, granite construction, quanta services, a pi group corporation all up from 2% to 5% again i'm ping ponging and not matching what you're seeing on your board but just a reminder from our charlie brady how far reaching this is. again the infrastructure measure was looking dicey for a while, as were investments in some of these companies here but now that it looks like it's cleared a big hurdle in the senate, might in the house it's good enough to have advanced a lot of these issues so keeping an eye on that, also waiting for the president of the united states who will no doubt do a little bit of crowing on all of this , alana trean joins us of axios. what can we expect to hear from the president on this? >> well, neil, i think there will be definitely a victory lap
going on, from the president and from senate leadership today. i know senate majority leader chuck schumer is already applaud ing the passage of the deal in the senate but i will point out it is and we're seeing with the stock market as well, it's a bit premature. the house still does need to pass this and they are a ways away from doing that. they want to pass house speaker nancy pelosi has made it clear they need to pass the 3.5 trillion reconciliation bill before they will even consider this 1.2 trillion bipartisan deal, and so it's going to be sometime before we see any movement. that could change but we know house speaker nancy pelosi when she makes a deadline and a firm decision like that she normally sticks to it and so i think that it is definitely a huge feet and a big win for biden that this passed the senate but it needs to pass the house before it can become law. neil: she's got those provisos though, that is
nancy pelosi, to address the $3.5 trillion matter not necessarily linked, but shortly thereafter, she could torpedo what be a huge victory for the president. i doubt she wants to do that, but what's your thinking and what are you hearing about the speaker's strategy here? >> it's definitely not from my understanding, from my discussions with people close to the speaker, and other democrats in the house. the strategy isn't to torpedo the bipartisan bill but rather creating some sort of leverage for the $3.5 trillion package and a lot of progressives particularly are worried that if they move forward with the bipartisan bill and pass that and then try to move on to the more more ambitious and more progressive package, it could be basically become harder to do and so i think the idea is trying to pass them simultaneously and making sure both will pass rather than dealing with them separately is the goal here but it's going to
be hard and both face a big fight, and chad was very much right just minutes ago, that the caucus that she has in the house is very diverse. you have a lot of progressives with their own priorities and they want to make sure that bold climate provisions, bold energy and child care provisions make it through and then you have moderates who really just want to get on and have this huge victory with this bipartisan bill, and so house speaker nancy pelosi needs to kind of weigh and balance the different factions in her party to make sure that both happens. neil: all right, gotcha, thank you very much, axios in washington d.c. where victory for the infrastructure measure and bipartisan measure at that, we'll explore that a little bit and what is next, and also the latest from the president of the united states and how she's going to respond to all of this and maybe in making remarks on the infrastructure measure, they might come in today's other big story, andrew cuomo, of new york, is resigning, effective in 14 days. stay with us.
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neil: all right, andrew cuomo announcing he is resigning, tucked in near the end of his remarks after defending himself from allegations particularly addressing claims by a state trooper who said he inappropriately touched her and then the bombshell near the end saying he was stepping down. bryan llenas has followed this tragic soap opera right from the beginning, joins us right now. brian? reporter: hey, neil well the twist and turns in that speech were really something. the governor starting off and saying that he was taking full responsibility for making people feel uncomfortable and offended at the same time, he called the attorney general's report from last week accusing him of sexually harassing 11 women untruthful and unfair, and then, he resigned and he said he was doing it in the interest of new yorkers.
listen. >> i am a fighter, and my instinct is to fight through this controversy because i truly believe it is politically motivated. the best way i can help now is if i step aside and let government get back to governing reporter: the question is what happens with the impeachment process? there was an appetite for impeachment and the votes to get it done based on all of the reporting. now, we had asked this question yesterday to the chair of the judiciary committee, and charles levine had this to say about whether or not it be smart to move forward with an impeachment, regard less, even if the governor resigned. >> we may very well have the authority to do that and i wouldn't discount that for a moment, but the end result be because he's already out of office, an impeachment itself is
going to be moot. reporter: yeah, but it would not be moot for the governor because if he is impeached he would not be able to run for state office again which means he would not be able to run for a fourth re-election down the line so that is important as well as for the accountabilit y that many are calling for , and the attorney general leticia james released a statement saying in part today closes a sad chapter for all of new york but it's an important step towards justice, i thank governor cuomo for his contributions to our state. lt. governor kathy hochul whose been in that position since 201e buffalo area, served as a clerk in erie county, she is, you know, somebody whose a part of a lot of the regional economic development councils and took pride in visiting all 62 counties in this state, will now become the first woman, first female governor of new york, after governor cuomo's resignation becomes final, two weeks from now and one other note. andrea stuart cousins who have the senator, will now become the
lt. governor, meaning the two highest positions in new york will now be run by women. neil? neil: you know what's kind of interesting that one senator i believe senator who had said, brian, that you know, once a governor resigns, you can't go after the impeachment proceedings against the former governor, well that didn't stop democrats in the house and later the senate from pursuing donald trump out of office. you know, so it's interesting that regardless, it just depends on the moment and the individual reporter: yeah and you speak to assemblyman like phil stack, i spoke to him and he said yesterday, he goes the governor ship of new york is the most powerful governorship in the state and it's important that we have this process so that people fully understand what in fact the levels of abuse of power that this governor may in fact have taken part in, so that we can maybe rebalance the structure in this state.
the governor can do a whole heck of a lot in new york, we should learn our lessons and frankly, there are three other things that they're investigating from the nursing home situation and the covid-19 deaths in the nursing homes to the preferential covid-19 tests for his family but also, did the governor personally profit over $5 million from writing a book using state resources? a lot of people, and i know there's appetite in the judiciary committee, to get this done. the question is, based on what some of these statements you're seeing out there, neil, it seems like a lot of people are willing to close this chapter and move on, they're really zeroing in on the governor's statements that this has all been a distraction, so, we'll see , but i do know there is an appetite in the judiciary committee to move forward with an impeachment investigation that was set to be done in just a matter of weeks. neil: bryan llenas in albany, on this story before anyone else, still on it right now, and where it goes from here. by the way we should let you know at eric adams the new york democratic mayoral candidate is
out with a statement on these developments. the governor's resignation was necessary for new york state to move forward and continue the critical work of our recovery. i look forward to working in partnership with lt. governor hochul on the key issues affecting our city and region at this pivotal moment. she is the new center of power or will be in 14 days, andrew cuomo is not. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. ♪ when i was young ♪ no-no-no-no-no please please no.
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neil: all right, infrastructure done, at least in the senate, and infrastructure related stock s from aluminum companies and the big diggers and all of that they're all benefiting from all of this. let's see how long that lasts or whether this is an over reaction they are getting ahead of their skiis here, danielle sh ea, thanks for joining us. obviously all of these issues are racing ahead on the idea it's going to be good for them. do you agree with that? >> um, well, you know, neil, can you just repeat that real quickly. we were just finishing our tech check here. neil: sure. i apologize. all these infrastructure-related stocks danielle are jumping ahead. not surprisingly. are they getting ahead of themselves? it's not a slam dunk certainly in the house, what do you think? >> oh, okay thank you so much.
so, you know, neil the infrastructure stocks definitely started rallying at the beginning of the year. we saw a massive rally especially when you're looking at ev trades, but you know what's great about those is they have calmed down significantly because people are buying them really at the highs in january, and so i actually think that it's a great time to start getting into solar stocks because i think a lot of the hype has kind of pulled back neil: you know, the general markets have been behaving very bullishly. that was long before this infrastructure vote, and i'm just wondering whether that's more a reflection of optimism that earnings and all that other stuff will prompt what's been happening with these spikes in cases and you look under the hood a little bit the spikes aren't nearly as problematic as they were the last time we were at these levels where some many of the cases were serious hospitalizations, even deaths. what's going on with the market in general? why is it doing what it's doing? >> so i think there's a couple
things, neil. i think the number one, what we have seen for the past couple earnings seasons that we have very strong companies out there right now, i mean just look at google. absolutely killing earnings, quarter-over-quarter, so you do have the earnings aspect but then you also have the aspect that you have so many new people into the market and they are buying every single dip. the fed is backing the market, everybody knows the fed is going to continue backing the market, and without any significant dips to flush people out it has trained people to buy the dip every single time it happens, so it's almost a self-fulfilling prophecy. neil: you're right. you're richly rewarded if you just follow that pattern throughout this whole bull market danielle thank you very very much. stocks up, the dow that is about 154 points waiting to hear from the president on infrastructure, maybe, what he thinks of governor cuomo's resignation after this.
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they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763 neil: all right. now time to go to charles payne. hey, charles. charles: neil, great seeing you my friend. good afternoon, everyone, i'm charles payne. this is "making money." bias remains to the upside and leadership comes from areas that smart money told you not to buy. wall street banking on a productivity miracle but what if it doesn't happen? looking beyond the stay at home versus the reopening debate. how to make big money on the things happening over the next few years. i have the perfect guest for you. to guide you through