New Details on United Health Murder Suspect; Broadcom Stock Surges

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:09.720 --> 0:00:10.280 Good Morning. 0:00:10.280 --> 0:00:11.640 I'm Nathan Hager and. 0:00:11.560 --> 0:00:14.640 I'm Karen Moscow. Here are the stories we're following today. 0:00:15.040 --> 0:00:17.560 Karen, we begin with the latest on the suspect accused 0:00:17.560 --> 0:00:21.960 of killing United Healthcare CEO Brian Thompson. Bloomberg's John Tucker 0:00:22.040 --> 0:00:24.200 joins us with the very latest, John. 0:00:24.280 --> 0:00:27.480 And good morning, Nathan. United Health Group says suspected gummed 0:00:27.600 --> 0:00:31.520 Luigi Mangione wasn't a member of its insurance plans. That 0:00:31.640 --> 0:00:34.479 seems to dispel the idea he was allegedly motivated by 0:00:34.520 --> 0:00:37.760 a grievance from his personal experience with the nation's largest 0:00:37.760 --> 0:00:41.840 health insurer. Meantime, prosecutors now bringing evidence before a grand 0:00:41.880 --> 0:00:45.000 jury seeking an indictment to strengthen their case for his 0:00:45.200 --> 0:00:49.360 return to New York. Manhattan District Attorney Alvin Bragg, we. 0:00:49.440 --> 0:00:53.440 Will get the defendant. 0:00:52.920 --> 0:00:55.920 Here well, Benji one finding extradition to New York, where 0:00:55.960 --> 0:00:59.640 he's facing murder charges. Since the shooting, people speculated about 0:00:59.640 --> 0:01:02.520 whether the guman was the customer upset over its an 0:01:02.560 --> 0:01:06.560 high medical claim or other insurance problem. Manzioni's own history 0:01:06.600 --> 0:01:10.679 of back pain and surgery revealed in online postings and 0:01:10.800 --> 0:01:13.280 reporting from people who spend time with him, prompt in 0:01:13.400 --> 0:01:16.920 questions about how his experience with a medical system might 0:01:16.959 --> 0:01:20.440 have driven him to alleged violence. It appears as grievances 0:01:20.480 --> 0:01:23.280 were more broad based in New York. I'm John Tucker, 0:01:23.319 --> 0:01:24.119 Bloomberg Radio. 0:01:24.520 --> 0:01:26.800 All right, John, thank you well. We turn to politics now, 0:01:26.840 --> 0:01:29.600 and President ELC. Shrump his voice support for the dog 0:01:29.640 --> 0:01:33.560 workers at union as the union considers whether to strike again, 0:01:33.640 --> 0:01:35.600 and we get more from Bloomberg's Doug Chrisner. 0:01:35.920 --> 0:01:38.520 Back in October, the union shut ports on the East 0:01:38.520 --> 0:01:41.840 and Gulf Coast until the Biden administration helped negotiate a 0:01:41.880 --> 0:01:45.480 temporary deal to keep those ports open. Now, that agreement 0:01:45.520 --> 0:01:49.440 between the union and shipping companies and terminal operators expires 0:01:49.480 --> 0:01:53.040 on January fifteenth, and the use of semi automated cranes 0:01:53.040 --> 0:01:55.960 has yet to be resolved. After meeting with union leaders, 0:01:56.000 --> 0:01:59.080 Trump said the amount of money saved is nowhere near 0:01:59.200 --> 0:02:02.640 the distress, hurt, and harm it causes American workers. The 0:02:02.720 --> 0:02:05.960 Employer's Group has said the technology does not harm longshore 0:02:06.040 --> 0:02:09.959 employment and such modernization is necessary to keep you as 0:02:10.040 --> 0:02:12.320 ports and the broad economy competitive. 0:02:12.760 --> 0:02:13.280 In New York. 0:02:13.320 --> 0:02:14.800 I'm Doug Prisner, Bloomberg Radio. 0:02:15.040 --> 0:02:17.400 Thank you, Doug. President elect Trump might also have a 0:02:17.440 --> 0:02:20.520 tax break in mind for residents of high tax states 0:02:20.560 --> 0:02:23.560 like New York and New Jersey. Trump's economic advisors have 0:02:23.639 --> 0:02:26.720 discussed doubling the deduction for state and local taxes known 0:02:26.760 --> 0:02:30.640 as salt, from ten to twenty thousand dollars. Steven Moore, 0:02:30.720 --> 0:02:33.520 who sits on Trump's economic team, tells Bloomberg they won't 0:02:33.560 --> 0:02:36.400 lift the cap entirely because that would amount to what 0:02:36.440 --> 0:02:40.280 he calls the biggest tax cut ever for millionaires and billionaires. 0:02:40.520 --> 0:02:43.360 Bloomberg Government's Kate Actley says any change to the salt 0:02:43.400 --> 0:02:46.160 deduction could be tough to get through a narrowly divided Congress. 0:02:46.520 --> 0:02:48.840 This is going to be extremely narrow margins. There are 0:02:48.840 --> 0:02:51.720 going to be times when the Republicans are down, you know, 0:02:52.000 --> 0:02:56.400 a few votes because people are going into the Trump administration, 0:02:56.639 --> 0:02:59.520 so you know it's going to be a nail bier 0:02:59.560 --> 0:03:02.440 and this will definitely be at the top of the 0:03:02.480 --> 0:03:04.119 list of things that they're wrangling over. 0:03:04.360 --> 0:03:07.560 Bloomberg Government's Kate Acley notes it was then President Trump's 0:03:07.560 --> 0:03:10.799 twenty seventeen tax law that limited the salt deduction to 0:03:10.880 --> 0:03:11.800 ten thousand dollars. 0:03:12.400 --> 0:03:15.919 Meanwhile, Nathan, President elect Trump's team maybe looking to take 0:03:15.960 --> 0:03:18.760 an ax to bank regulation. According to our report in 0:03:18.800 --> 0:03:21.920 The Wall Street Journal, officials from Trump's Department of Government 0:03:21.960 --> 0:03:26.720 Efficiency have talked about shrinking, merging, or even eliminating agencies 0:03:26.880 --> 0:03:31.800 like the Federal Deposit Insurance Corporation or FDIC. Any proposal 0:03:31.800 --> 0:03:34.560 to get rid of an agency would need congressional approval. 0:03:34.680 --> 0:03:38.200 Bank executives are hopeful that Trump administration will ease regulations 0:03:38.200 --> 0:03:42.440 on capital requirements and consumer protections, but touching Federal deposit 0:03:42.520 --> 0:03:44.840 insurance could be politically tricky, well. 0:03:44.840 --> 0:03:46.800 Karen, President elect Trump had a chance to tout his 0:03:46.920 --> 0:03:50.160 economic plans during a visit to the New York Stock Exchange. 0:03:50.640 --> 0:03:51.680 We'll cutting your taxes. 0:03:51.680 --> 0:03:54.160 We're going to cut them very substantially. We got them 0:03:54.160 --> 0:03:57.480 down to twenty one percent from probably forty two or 0:03:57.520 --> 0:03:59.160 forty four percent, depending on. 0:03:59.120 --> 0:03:59.720 Where you are. 0:04:00.160 --> 0:04:02.360 Him down to twenty one. Everyone said that was a miracle. 0:04:02.840 --> 0:04:05.600 Now we're getting them down to fifteen, but only if 0:04:05.640 --> 0:04:08.000 you make your product here. Otherwise you pay twenty one, 0:04:08.000 --> 0:04:10.720 which is not bad. It's in the middle of the pack. 0:04:11.040 --> 0:04:13.640 The president like rang the opening Bell on Wall Street 0:04:13.640 --> 0:04:16.520 to celebrate being named Time Magazines Person of the Year. 0:04:16.560 --> 0:04:19.039 He told CNBC he sees the market as a gauge 0:04:19.040 --> 0:04:21.840 of his success and his words quote to me, the 0:04:21.839 --> 0:04:22.800 stock market is. 0:04:22.760 --> 0:04:25.960 All of it, well, Nathan. Another high tech giant is 0:04:26.000 --> 0:04:29.800 donating to President elect Donald Trump's inaugural fond. Amazon is 0:04:29.880 --> 0:04:33.920 joining meta platforms and contributing one million dollars. Besides the 0:04:33.960 --> 0:04:37.680 direct donation, Amazon is also streaming the inauguration as an 0:04:37.680 --> 0:04:41.600 in kind donation worth one million. Amazon founder Jeff Bezos 0:04:41.720 --> 0:04:43.520 is also meeting with Trump next week. 0:04:43.960 --> 0:04:47.279 Elon Musk is renewing his long standing feud with the 0:04:47.279 --> 0:04:50.680 Securities and Exchange Commission. Karen Musk posted a letter saying 0:04:50.680 --> 0:04:54.240 the agency is investigating his brain computer interface company, Neuralink. 0:04:54.560 --> 0:04:56.960 The letter also says the sec is preparing to take 0:04:57.000 --> 0:05:00.359 action against Musk related to his investment in Twitter before 0:05:00.400 --> 0:05:03.440 he bought the platform in twenty twenty two. The regulator 0:05:03.480 --> 0:05:06.479 has been examining the timing and disclosure of Musk's purchase 0:05:06.520 --> 0:05:09.120 of Twitter stock before he acquired the company. The letter 0:05:09.160 --> 0:05:12.000 says the agency gave Musk a forty eight hour deadline 0:05:12.040 --> 0:05:15.239 to accept the settlement over the probe or face enforcement action. 0:05:15.839 --> 0:05:17.680 The SEC declined to comment. 0:05:18.200 --> 0:05:21.080 Meanwhile, Nathan Canter, FitzGeralds Howard and Lutnik has agreed to 0:05:21.080 --> 0:05:24.880 pay almost seven million dollars to settle SEC allegations that 0:05:24.960 --> 0:05:29.000 it misled investors in two blank check firms before their 0:05:29.040 --> 0:05:32.960 stock market debuts. The firm controlled two special purpose acquisition 0:05:33.040 --> 0:05:36.320 companies that raised seven hundred and fifty million dollars. Kendor 0:05:36.400 --> 0:05:40.719 claimed they had not had substantent talks with potential merger targets, 0:05:40.760 --> 0:05:44.640 when in reality, the SEC says they started negotiations. The 0:05:44.839 --> 0:05:48.800 firm settled without admitting to or denying. The allegations turn 0:05:48.839 --> 0:05:50.320 into politics overseas Karen. 0:05:50.360 --> 0:05:53.000 French President Emanuel Macrome is due to name a new 0:05:53.040 --> 0:05:56.839 prime minister this morning. Macrome missed his self imposed deadline 0:05:56.839 --> 0:05:59.520 to replace Michel Barnier, whose government was ousted in a 0:05:59.600 --> 0:06:03.080 ocon finance vote after just three months. Bloomberg Senior editor 0:06:03.160 --> 0:06:07.120 Phil Serafino says Macron is aiming to create a centrist coalition. 0:06:07.440 --> 0:06:10.480 All the reporting from the past week or so indicates 0:06:10.520 --> 0:06:13.440 that he's trying to bring the Socialist Party into a 0:06:13.760 --> 0:06:18.240 coalition of centrist parties center left, center right, and sort 0:06:18.240 --> 0:06:20.480 of leave the far left and far right parties out 0:06:20.520 --> 0:06:21.040 on their own. 0:06:22.279 --> 0:06:26.320 Bloomberg's Phil Serafino says France, the European Union's second largest economy, 0:06:26.320 --> 0:06:29.679 has been plunged into political uncertainty after failing to pass 0:06:29.680 --> 0:06:31.240 a budget for twenty twenty five. 0:06:31.680 --> 0:06:34.840 Nathan the UK economy is unexpectedly shrunk for a second 0:06:34.880 --> 0:06:38.760 consecutive months, slipping a tenth of uppercent. It means the 0:06:38.800 --> 0:06:41.760 economy has only grown in one of the four months 0:06:41.800 --> 0:06:45.720 since Labor took power, compounding a shaky start since their 0:06:45.800 --> 0:06:47.640 landslide victory in the July election. 0:06:48.279 --> 0:06:50.560 Back here in the US, Karen Shares a broadcommer, up 0:06:50.560 --> 0:06:52.960 more than fourteen and a half percent in early trading. 0:06:53.000 --> 0:06:55.440 The chip supplier for Apple and other big tech companies, 0:06:55.480 --> 0:06:58.960 is predicting a boom in demand for its artificial intelligence chips. 0:06:59.200 --> 0:07:02.720 Investors have piled into Broadcom stock this year, lord by 0:07:02.760 --> 0:07:05.920 AI optimism. With this morning's gains, the stock is up 0:07:05.960 --> 0:07:08.320 more than eighty percent this year. 0:07:08.440 --> 0:07:12.320 And Nathan Costco posted quarterly profit that beat expectations. The 0:07:12.320 --> 0:07:15.440 big box retailer reported more members during the quarter, and 0:07:15.480 --> 0:07:22.040 about ninety percent of existing members renewed their service. Time 0:07:22.040 --> 0:07:23.520 now for a look at some of the other stories 0:07:23.520 --> 0:07:25.440 making news in New York and around the world, and 0:07:25.480 --> 0:07:28.080 for that we're joined by Bloomberry. So Michael Barr, Michael, 0:07:28.080 --> 0:07:28.920 good morning. 0:07:28.720 --> 0:07:31.840 Good morning, Karen. There's no threat to the public, and 0:07:31.960 --> 0:07:35.360 they may not even be drones. That's the response from 0:07:35.360 --> 0:07:39.280 White House National Security spokesman John Kirby on the growing 0:07:39.320 --> 0:07:43.920 concerns about flying objects flying over various towns in northern 0:07:43.920 --> 0:07:47.440 New Jersey at night. Kirby says there's no evidence that 0:07:47.520 --> 0:07:51.560 the reported sightings pose a national security or public safety 0:07:51.600 --> 0:07:53.640 threat or have a foreign connection. 0:07:54.080 --> 0:07:56.320 The United States Coast Guard is providing support to the 0:07:56.360 --> 0:07:58.720 state of New Jersey and has confirmed that there is 0:07:58.760 --> 0:08:03.000 no evidence of any foreign based involvement from coastal vessels. 0:08:03.480 --> 0:08:06.920 He says whatever is flying over people's homes at night 0:08:07.000 --> 0:08:11.240 appear to be manned aircraft that are being operated lawfully. 0:08:11.680 --> 0:08:15.239 Those statements aren't sitting well with Minehill, New Jersey Mayor 0:08:15.400 --> 0:08:18.680 Sam Morris, who is among dozens of local and state 0:08:18.800 --> 0:08:22.120 leaders demanding an investigation from federal officials. 0:08:22.760 --> 0:08:25.920 I have to tell you that's incredulous. I'm incredulous about that. 0:08:25.920 --> 0:08:29.480 That is ridiculous. I would invite mister Kirby to mine Hill. 0:08:29.880 --> 0:08:32.600 Come on out, mister Kirby, and let's let's go on 0:08:32.679 --> 0:08:35.280 out one night about nine thirty ten o'clock. I'll go 0:08:35.360 --> 0:08:37.880 out behind my town hall and you can count them 0:08:37.880 --> 0:08:38.560 with me all night. 0:08:39.160 --> 0:08:42.640 Senators from New York and New Jersey are also expressing 0:08:42.760 --> 0:08:46.040 urgent concern. One person has died after a small plane 0:08:46.120 --> 0:08:50.200 crashed on a highway in Westchester County last night. According 0:08:50.240 --> 0:08:52.880 to New York State Police, the crash shut down I 0:08:53.160 --> 0:08:56.520 six eighty four in Harrison. Another person in the plane 0:08:56.520 --> 0:08:59.880 that took off from Lynden, New Jersey, is hospitalized and 0:09:00.080 --> 0:09:04.120 serious condition. New York Mayor Eric Adams met with Tom 0:09:04.160 --> 0:09:08.240 Homan Donald Trump's incoming borders are. Adams says he plans 0:09:08.240 --> 0:09:11.760 to use executive orders to assist the federal government with 0:09:11.840 --> 0:09:16.920 the arrest and deportation of undocumented immigrants who have repeatedly 0:09:16.960 --> 0:09:19.360 committed violent crimes in the Sanctuary City. 0:09:19.840 --> 0:09:24.880 Our legal team is vetting do we have the authorization 0:09:25.000 --> 0:09:28.360 to sit down and speak with ice legal team to 0:09:28.840 --> 0:09:31.600 operationalize what both our designs are. 0:09:32.320 --> 0:09:34.240 Adams went on to say the city is not going 0:09:34.280 --> 0:09:36.679 to be a safe haven for those who commit repeated 0:09:36.800 --> 0:09:43.160 violent crimes against innocent migrants, immigrants and long standing New Yorkers. Finally, 0:09:43.160 --> 0:09:46.319 Cambodia is calling it a milestone in the improvement with 0:09:46.640 --> 0:09:49.680 US ties. The US will send a warship to visit 0:09:49.720 --> 0:09:53.040 a naval base in Cambodia for the first time since 0:09:53.080 --> 0:09:57.160 the Southeast Asian nation reportedly signed a deal in twenty 0:09:57.240 --> 0:10:00.680 nineteen that would allow China to establish a perman foothold. 0:10:00.679 --> 0:10:04.120 There Global news twenty four hours a day and whenever 0:10:04.200 --> 0:10:06.920 you want it with Bloomberg News Now. I'm Michael Barr, 0:10:06.920 --> 0:10:08.439 and this is Bloomberg Carrot. 0:10:08.520 --> 0:10:15.199 All right, Michael Barr, thank you time now for the 0:10:15.200 --> 0:10:17.839 Bloomberg Sports Update, brought to you by Try and State 0:10:17.880 --> 0:10:21.040 OUDI here's John Stashauer. John, good morning, Good morning Karen. 0:10:21.120 --> 0:10:23.559 Four days after winning the highest scoring game in the 0:10:23.679 --> 0:10:26.520 NFL this season, forty four to forty two, the La 0:10:26.640 --> 0:10:29.360 Rams won one of the lowest, twelve to six over 0:10:29.400 --> 0:10:31.160 the forty nine Ers, a game without a touchdown. The 0:10:31.240 --> 0:10:34.280 Niners held only eleven first downs under two hundred yards 0:10:34.280 --> 0:10:36.400 of offense. The Rams at eight and six very much 0:10:36.400 --> 0:10:38.600 in it for either the division or a wildcar. The 0:10:38.679 --> 0:10:40.679 Niners at eight at six and eight pretty much out 0:10:40.679 --> 0:10:42.679 of it. Devils and Islanders both won at home New 0:10:42.760 --> 0:10:44.920 Jersey three to one over La jack us in on 0:10:44.960 --> 0:10:46.920 all three goals. In the Isles, blew most of a 0:10:46.960 --> 0:10:49.680 five to one lead held on five four Older Chicago 0:10:49.800 --> 0:10:52.640 Capitals won two one of Columbus Bruins lost five to one. 0:10:52.760 --> 0:10:55.880 In Seattle, Celtics improved to twenty and five, blew out 0:10:55.920 --> 0:10:59.000 Detroit by twenty four. Juan Soto put on his Mets 0:10:59.080 --> 0:11:02.760 number twenty two. If he stays a Met throughout the contract, 0:11:02.760 --> 0:11:05.280 he'll be wearing it until twenty forty. When asked why 0:11:05.320 --> 0:11:08.760 he chose the Mets, Soto brought up their recent success. 0:11:09.160 --> 0:11:12.680 The Mets is a great negotiation and what they have 0:11:12.960 --> 0:11:18.760 done in the past couple of years, showing all the 0:11:18.800 --> 0:11:21.599 ability to keep winning, to keep growing a team, to 0:11:22.080 --> 0:11:25.480 try to grow a dynasty as one of the most 0:11:25.520 --> 0:11:26.280 important teams. 0:11:26.320 --> 0:11:28.679 So if the Mets continued on the course they started 0:11:28.679 --> 0:11:30.959 out on this past season, they may not have gotten soda. 0:11:31.000 --> 0:11:33.520 They of course, turned things around, ended up in the nlcyes. 0:11:33.600 --> 0:11:35.960 Bill Belichick was at Chapel Hill saying his new job 0:11:35.960 --> 0:11:38.920 at North Carolina is a dream come true. From nineteen 0:11:39.040 --> 0:11:42.599 seventy five through twenty twenty three, Belichick never missed a 0:11:42.640 --> 0:11:45.400 season of NFL coaching. Now, after a year off, he's 0:11:45.440 --> 0:11:46.520 going back to work. 0:11:46.840 --> 0:11:49.600 I love coaching. I love the interaction with the players. 0:11:49.640 --> 0:11:52.400 I love building a team, working with the assistants, game planning, 0:11:52.600 --> 0:11:55.880 the game itself, which you know there's some good ones 0:11:56.000 --> 0:11:58.679 or some bests, but they're all learning experience and working 0:11:58.679 --> 0:12:01.080 with the you know, young kids too, with the energy, 0:12:01.200 --> 0:12:04.480 enthusiasm to want to be good, to want to be successful. 0:12:04.640 --> 0:12:07.240 Army Davy game tomorrow in the Heisman Trophy goes out 0:12:07.280 --> 0:12:10.560 tomorrow night. John Stashed. That were Bloomberg Sports. 0:12:12.120 --> 0:12:16.240 Coast to coast on Bloomberg Radio nationwide on Sirius XM, 0:12:16.360 --> 0:12:19.240 and around the world on Bloomberg dot Com and the 0:12:19.280 --> 0:12:22.720 Bloomberg Business app. This is Bloomberg Daybreak. 0:12:22.840 --> 0:12:23.319 Good morning. 0:12:23.320 --> 0:12:26.000 I'm Nathan Hager, President of Like Donald Trump is touting 0:12:26.040 --> 0:12:29.120 his economic agenda as he gets closer to inauguration. He 0:12:29.240 --> 0:12:32.080 did it in a celebratory mood during his visit to 0:12:32.120 --> 0:12:33.800 the New York Stock Exchange. 0:12:33.960 --> 0:12:36.120 The economy, I believe is going to be very strong. 0:12:36.160 --> 0:12:39.440 We do have to solve some problems. We have wars 0:12:39.480 --> 0:12:41.079 going on that we didn't have. We have a lot 0:12:41.120 --> 0:12:42.960 of things happening that we didn't have that would have 0:12:43.000 --> 0:12:46.400 never happened. They would have never happened, but now they 0:12:46.840 --> 0:12:47.480 have happened. 0:12:47.840 --> 0:12:50.640 And at least one problem that could happen next month 0:12:50.760 --> 0:12:53.640 is a strike on the docks, and the President dillect 0:12:53.760 --> 0:12:55.760 is weighing in on that and more as well, joining 0:12:55.840 --> 0:12:59.240 us to discuss it. As Bloomberg News Senior editor Bill ferries. Bill, 0:12:59.280 --> 0:13:01.840 I'm sure you saw the social media post from Trump 0:13:01.880 --> 0:13:04.480 saying he met with the dock workers union that shut 0:13:04.559 --> 0:13:07.040 down the ports back in October. What to make of it? 0:13:07.080 --> 0:13:11.520 Good morning, Hey, Good morning, Nathan. Yeah, very interesting post 0:13:11.640 --> 0:13:15.200 from the President elect there, really throwing a lot of 0:13:15.240 --> 0:13:20.280 support behind the Longshoreman's Association, that's the dock workers union that, 0:13:20.320 --> 0:13:23.520 as you mentioned, was on strike in October, just a 0:13:23.800 --> 0:13:27.560 month before the election. They kind of reached an agreement, 0:13:27.600 --> 0:13:29.840 if you remember, back then, kind of kicking the can 0:13:29.920 --> 0:13:33.360 down the road. The workers agreed to take basically a 0:13:33.440 --> 0:13:38.160 sixty one percent pay raise in their next six year contract. 0:13:38.440 --> 0:13:41.600 But they really didn't finalize that contract. They said, we'll 0:13:41.640 --> 0:13:44.960 get past the election, we'll we'll set a deadline of 0:13:45.000 --> 0:13:49.240 mid January and then we'll try to reach agreement on 0:13:49.440 --> 0:13:52.480 a whole range of issues. The big sticking point has 0:13:52.559 --> 0:13:56.800 been the use of increased automation at US ports that 0:13:56.880 --> 0:13:58.679 the union is worried are going to put people out 0:13:58.720 --> 0:14:01.800 of business. Donald Trump coming in saying he's sided with 0:14:01.920 --> 0:14:06.199 the workers, he understands their concerns about automation, and so 0:14:06.280 --> 0:14:08.600 it's going to be interesting to see how that plays out. 0:14:08.640 --> 0:14:10.680 The two sides have not been able to reach an 0:14:10.720 --> 0:14:15.680 agreement on this issue, so potentially when we're talking about 0:14:15.760 --> 0:14:19.120 January fifteenth, we're talking about five days before Donald Trump 0:14:19.120 --> 0:14:22.040 gets sworn in. So it remains to be seen whether 0:14:22.080 --> 0:14:25.160 this will really help spur the two sides in action 0:14:25.400 --> 0:14:27.440 or to reach an agreement, or whether we're really going 0:14:27.480 --> 0:14:29.840 to go up to right up to the cliff again 0:14:29.880 --> 0:14:30.640 in January. 0:14:31.000 --> 0:14:33.640 So while the President elect is sort of touting this 0:14:33.720 --> 0:14:37.200 sort of populist message in this post, he also could 0:14:37.200 --> 0:14:41.160 be thinking of throwing a bone to voters in high 0:14:41.200 --> 0:14:44.880 tech states once again with talk about lifting the cap 0:14:44.920 --> 0:14:47.240 on the salt deduction bill. 0:14:47.400 --> 0:14:51.000 Yeah, it sounds like some of Trump's top economic advisors 0:14:51.000 --> 0:14:53.440 are now looking at that salt tax, that state and 0:14:53.480 --> 0:14:57.920 local tax deduction getting raised potentially from the ten thousand 0:14:58.000 --> 0:15:01.040 dollars cap up to twenty thousand dollar. Still a lot 0:15:01.040 --> 0:15:03.320 of details there that we don't know, and it would 0:15:03.360 --> 0:15:07.560 require congressional action. But this is really there's some irony here. 0:15:07.640 --> 0:15:11.360 The ten thousand dollars salt deduction that was what came 0:15:11.400 --> 0:15:15.680 in as part of Trump's twenty seventeen tax overhaul. It 0:15:15.720 --> 0:15:20.720 was super unpopular even with Republicans in higher tax states 0:15:20.800 --> 0:15:24.360 like New York in particular New Jersey, but also just 0:15:24.440 --> 0:15:27.880 broadly with people in southern California for instance, any places 0:15:27.880 --> 0:15:31.400 where the property taxes or the state taxes are high, 0:15:31.440 --> 0:15:34.240 that was an issue. So they are looking at trying 0:15:34.280 --> 0:15:37.280 to ease that cap. I think what you know, big 0:15:37.320 --> 0:15:41.360 picture here, what this really shows is, you know how 0:15:41.400 --> 0:15:44.840 important a one seat or how weak a one seat 0:15:44.880 --> 0:15:49.120 majority can be. One one or two congress people. After 0:15:49.160 --> 0:15:52.440 Trump takes office, one or two Republicans can really prevent 0:15:52.520 --> 0:15:55.920 his legislation from going through. So I think this is 0:15:56.000 --> 0:16:00.120 kind of an attempt to satisfy some of those demands. 0:16:00.360 --> 0:16:04.320 I suspect even Republican lawmakers and places like cal like 0:16:04.400 --> 0:16:07.760 New York are going to be maybe looking for more 0:16:07.840 --> 0:16:09.960 than just twenty thousand dollars as the deduction. 0:16:11.760 --> 0:16:15.200 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:15.280 --> 0:16:18.320 making news from Wall Street to Washington and beyond. 0:16:18.560 --> 0:16:20.960 Look for us on your podcast feed by six am 0:16:21.000 --> 0:16:24.400 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:24.600 --> 0:16:27.440 You can also listen live each morning starting at five 0:16:27.480 --> 0:16:30.200 am Wall Street Time on Bloomberg eleven three to zero 0:16:30.200 --> 0:16:33.120 in New York, Bloomberg ninety nine to one in Washington, 0:16:33.160 --> 0:16:37.120 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:37.320 --> 0:16:38.880 XM Channel one twenty one. 0:16:39.280 --> 0:16:42.000 Plus listen coast to coast on the Bloomberg Business app 0:16:42.040 --> 0:16:44.880 now with Apple CarPlay and Android Atto interfaces. 0:16:45.080 --> 0:16:48.080 And don't forget to subscribe to Bloomberg News Now. It's 0:16:48.120 --> 0:16:50.840 the latest news whenever you want it in five minutes 0:16:50.920 --> 0:16:54.080 or less. Search Bloomberg News Now on your favorite podcast 0:16:54.080 --> 0:16:56.320 platform to stay informed all day long. 0:16:56.640 --> 0:16:59.680 I'm Karen Moscow and I'm Nathan Hager. Join us again 0:16:59.680 --> 0:17:01.880 tomorrow morning for all the news you need to start 0:17:01.920 --> 0:17:03.600 your day right here on Bloomberg. 0:17:03.680 --> 0:17:05.800 Dave bray 0:17:07.480 --> 0:17:07.520 H