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TED: COMING UP NEXT ON "ARIZONA HORIZON," WHAT THE RESIGNATION OF CANADIAN PRIME MINISTER JUSTIN TRUDEAU MEANS FOR ARIZONA'S TRADE RELATIONSHIP WITH CANADA?

>>> ALSO TONIGHT, WHAT BUSINESS LEADERS WANT TO SEE FROM THE UPCOMING STATE LEGISLATIVE SESSION?

>>> WE'LL HEAR ABOUT CHANGES TO 401(k) CONTRIBUTION LIMITS FOR THE NEW YEAR.

THOSE STORIES AND MORE NEXT ON "ARIZONA HORIZON."

.

TED: GOOD EVENING, AND WELCOME TO "ARIZONA HORIZON."

I'M TED SIMONS.

THE BODY OF FORMER PRESIDENT JIMMY CARTER ARRIVED IN WASHINGTON TODAY TO LIE IN STATE AT THE CAPITOL ROTUNDA.

THE FORMER PRESIDENT DIED ON DECEMBER 29 AT THE AGE OF 100.

THOUSANDS ARE EXPECTED TO PAY THEIR RESPECTS TO CARTER, THE NATION'S 39th PRESIDENT.

CARTER WILL LIE IN STATE FOR A DAY AND A HALF AHEAD OF A FORMAL STATE FUNERAL AT WASHINGTON NATIONAL CATHEDRAL SET FOR THURSDAY.

>>> PRESIDENT-ELECT DONALD TRUMP COMMENTED ON EVERYTHING FROM USING MILITARY FORCE TO RETAKE THE PANAMA CANAL AND ACQUIRE GREENLAND TO UNLEASHING, QUOTE, ALL HELL IF HOSTAGES HELD BY HAMAS AREN'T RELEASED.

>> CAN YOU ASSURE THE WORLD THAT, AS YOU TRY TO GET CONTROL OF THESE AREAS, YOU ARE NOT GOING TO USE MILITARY OR ECONOMIC COERCION?

>> NO.

>> CAN YOU TELL US A LITTLE BIT ABOUT WHAT YOUR PLAN IS?

ARE YOU GOING TO NOBODY A NEW TREATY?

ARE YOU GOING TO ASK THE CANADIANS TO HOLD THE VOTE?

WHAT IS THE STRATEGY -- >> I CAN ASSURE YOU YOU'RE TALKING ABOUT PANAMA AND GREENLAND.

I CAN'T ASSURE YOU ON EITHER OF THOSE TWO.

IF THEY'RE NOT BACK BY THE TIME I GET INTO OFFICE, ALL HELL WILL BREAK OUT IN THE MIDDLE EAST.

IT WILL NOT BE GOOD FOR HAMAS OR ANYONE.

ALL HELL WILL BREAK OUT.

I DON'T HAVE TO SAY ANYMORE BUT THAT'S WHAT IT IS.

TED: THERE WAS MORE, AS FOR PARDONING JANUARY 6 RIOTERS CHARGED WITH VIOLENT OFFENSES -- >> ARE YOU PLANNING TO PARDON THOSE WHO WERE CHARGED WITH VIOLENT OFFENSES?

>> WE'RE LOOKING AT IT AND WE HAVE OTHER PEOPLE IN THERE.

PEOPLE THAT WERE DOING BAD THINGS WEREN'T PROSECUTED AND PEOPLE THAT DIDN'T WALK INTO THE BUILDING ARE IN JAIL RIGHT NOW.

WE'LL BE LOOKING AT THE WHOLE THING.

I'LL BE MAKING MAJOR PARDONS, YES.

TED: AND THE PRESIDENT-ELECT ALSO CALLED FOR A GEOGRAPHIC NAME CHANGE.

>> WE HAVE A MASSIVE DEFICIT WITH MEXICO, AND WE HELP MEXICO A LOT.

THEY'RE ESSENTIALLY RUN BY THE CARTELS, AND CAN'T LET THAT HAPPEN.

MEXICO'S REALLY IN TROUBLE, A LOT OF TROUBLE.

VERY DANGEROUS PLACE, AND WE'RE GOING TO BE ANNOUNCING, AT A FUTURE DATE PRETTY SOON, WE'RE GOING TO CHANGE -- BECAUSE WE DO MOST OF THE WORK THERE, AND IT'S OURS, WE'RE GOING TO BE CHANGING, SORT OF THE OPPOSITE OF BIDEN, WHERE HE'S CLOSING EVERYTHING UP, ESSENTIALLY GETTING RID OF 50 TO $60 TRILLION WORTH OF ASSETS, CHANGING THE NAME OF THE GULF OF MEXICO TO THE GULF OF AMERICA HAS A BEAUTIFUL RING.

THAT COVERS A LOT OF TERRITORY.

THE GULF OF AMERICA, WHAT A BEAUTIFUL NAME.

TED: FEDERAL JUDGE AILEEN CANNON BLOCKED THE REPORT ON THE CLASSIFIED DOCUMENTS CASE OF PRESIDENT-ELECT TRUMP.

SHE DECIDED TO KEEP THE FINAL REPORT FROM BEING RELEASED UNTIL APPEALS COURT CHALLENGING CANNON'S EARLIER DISMISSAL DECIDES HOW TO HANDLE THE REPORT.

TRUMP CALLED CANNON, QUOTE, VERY, VERY STRONG AND VERY, VERY BRILLIANT.

>>> JUSTIN TRUDEAU'S RESIGNATION AS PRIME MINISTER OF CANADA AS THE COUNTRY FACES INCREASINGLY COMPLICATED RELATIONSHIP WITH THE U.S. HOW WILL TRUDEAU'S RESIGNATION IMPACT ARIZONA?

WE ASK GLENN WILLAMSON.

WE THANK YOU FOR JOINING US, WHERE ARE YOU, BY THE WAY?

>> IN LAS VEGAS AT THE CONSUMER ELECTRONICS SHOW WITH THE SENIOR PEOPLE FROM SONY.

TED: CONGRATULATIONS ON THAT.

BUT AS A CANADIAN, ARE YOUR FELLOW CANADIANS SAYING CONGRATULATIONS THAT JUSTIN TRUDEAU HAS DECIDED TO RESIGN?

WHAT DO YOU MAKE OF THAT?

>> I THINK WHEN YOU HAVE A GOVERNMENT THAT IS STALLED, WHICH IT HAS BEEN AS MANY MONTHS AS HIS, WHEN THE FINANCE MINISTER STEPS DOWN AND DEPUTY PRIME MINISTER STEPS DOWN, THERE IS A TIRED POPULATION LOOKING FOR CHANGE.

>> YOU MENTIONED STALLED, TIRED POPULATION.

SEEM LIKE RISING DISCONTENT OVER HIS LEADERSHIP.

WHAT HAPPENED?

WHAT CHANGED?

>> I THINK IT WENT TOO FAR LEFT OVER THE YEARS, AND I THINK THAT THE COUNTRY WANTS TO BE MORE IN THE CENTER, AND WE'RE WATCHING A WHOLE SERIES OF DIFFERENT PROVINCES STARTING TO GET VERY NERVOUS ABOUT ECONOMICS VERSUS OTHER THINGS.

TED: YEAH, OTHER THINGS.

LET'S TALK ABOUT SOME OF THE OTHER THINGS, THAT'S THE ELECTION HERE IN THE U.S. TRUMP'S ELECTION, HOW MUCH DID THAT LEAD TO THIS RESIGNATION?

BECAUSE DONALD TRUMP IS TAKING CREDIT FOR IT.

>> HE, AS MUCH AS HE WOULD LIKE TO MAKE IT THE 51st STATE, I THINK THAT CANADA WAS ALREADY IN A POSITION THAT THEY WERE READY TO CHANGE AFTER TEN YEARS WITH THIS PRIME MINISTER, AND I THINK THAT TRUMP'S 25% TARIFF ADDED A LITTLE BIT OF A NUDGE, AND IT BROUGHT THE PRIVATE SECTOR AND THE CAPITAL MARKETS TO BEAR OVER A LOT OF SOFTER INDUSTRIES.

TED: SO THE NUDGE, MEANING WHAT?

TRUDEAU WOULD NOT BE ABLE TO BARGAIN WITH TRUMP?

A TARIFF IS A TARIFF, NO MATTER WHO IS IN CHARGE, RIGHT?

>> WELL, I THINK THAT WHEN YOU HAVE PEOPLE THAT YOU HAVE DISCONTENT WITH PERSONALLY THAT FLY DOWN TO MEET WITH YOU AND NOTHING OCCURS, I THINK THAT THE TRUDEAU BANNER DOES NOT CARRY MUCH WITH THE DIFFERENT PRESIDENT-ELECT IN THE UNITED STATES, AND I THINK THE PARLIAMENT AND THE CANADIAN PUBLIC ARE AWARE OF THAT.

TED: LET'S TALK ABOUT THE TARIFFS AND WHAT THAT WOULD MEAN TO CANADIAN BUSINESSES HERE IN ARIZONA.

WHAT THAT WOULD MEAN TO AN ARIZONA-CANADA TRADE?

>> IT GETS VERY COMPLEX BECAUSE MEXICO IS INVOLVED IN THIS.

THEREFORE, IT INVOLVES AGRICULTURE, YOU HAVE DUAL TARIFFS GOING BACK AND FORTH.

IT INVOLVES LUMBER THAT BUILD OUR HOUSES THAT COME FROM CANADA.

INVOLVES ENERGY TO A LESSER DEGREE IN ARIZONA, BUT THE BIGGEST THING FOR CANADA AND ARIZONA IRONICALLY IS NOT TRADE, IT'S FOREIGN DIRECT INVESTMENT.

SO THAT IS A HUGE, HUGE ISSUE THAT IS NOT AFFECTED DIRECTLY BY A 25% TARIFF, BUT THE REST OF THE INDUSTRIES WILL BE TOUCHED.

AUTOMOTIVE IS ANOTHER ONE THAT WOULD BE TOUCHED, AND BECAUSE MEXICO IS INVOLVED IN THIS UNDER NAFTA, YOU HAVE AN ISSUE WITH CHINESE AND MEXICAN STEEL CROSSING BOTH SIDES.

CANADA IS INVOLVED IN THAT.

YOU'VE GOT A BUNCH OF MINING, CANADIAN MINING COMPANIES ARE INVOLVED IN THAT, YOU TAKE A LOOK AT HUD BAY, A CANADIAN MINING COMPANY DOWN IN SOUTHERN ARIZONA, A 25% TARIFF ON THEM IS GUT-WRENCHING WHAT COULD HAPPEN.

TED: OKAY, WHAT COULD HAPPEN AS WELL, YOU TELL ME, RETALIATORY TARIFFS.

IS THAT A POSSIBILITY?

>> ABSOLUTELY, AND IT'S ONE OF THOSE THINGS WHERE THE CURRENT PRESIDENT-ELECT, YOU KNOW, LOVES TO NEGOTIATE AND START OFF WITH 25%, AND THAT MAY GET CANADA TO THE TABLE TO GET OVER THEIR 2% ON SECURITY AND PARTICIPATION WITH NATO.

IT MAY ALSO GET THEM TO DID THINGS ON THE BORDER.

DO YOU THINK TRUMP IS GOING TO GO AHEAD WITH A 25% TARIFF?

I DO NOT.

I THINK THIS IS GOING TO BE A NEGOTIATING PLOY.

I THINK THAT IN CANADA, THE ONLY PERSON, THE ONLY PROVINCIAL LEADER THAT HAS AN ISSUE WITH THIS IS PROVINCIAL LEADER FORD IN ONTARIO, AND EVEN HE BACKED OFF ON RETALIATORY BECAUSE IF THAT DOES OCCUR, TED, IT WILL BE BRUTAL.

TED: NO KIDDING.

THE NEXT PRIME MINISTER, WHO ARE WE LOOKING AT?

WHO'S THE FAVORITE IN THE RACE SO FAR?

>> WHEN A PRIME MINISTER DOES WHAT JUSTIN DID, HE PUTS THE PARLIAMENT INTO PROROGUE.

EVERYTHING IN THE PARLIAMENT FOR THE NEXT 77 DAYS IS ON HOLD.

NOTHING NEW CAN BE PASSED.

THE GOVERNMENT RUNS ITSELF.

DURING THAT PERIOD, ANOTHER GROUP OF PEOPLE WILL RUN FOR THAT POST THAT HE HAS.

THE LEADERSHIP OF THE PARTY AND THE PRIME MINISTER ARE SYNONYMOUS, AND WE HAVE A COUPLE OF PEOPLE LIKE CARNEY, A FORMER BANK PERSON FROM BRITAIN AND CANADA, YOU'VE GOT CHRYSTIA FREELAND, PROBABLY 7 OR 8.

ONCE THE LIBERAL PARTY PICKS SOMEBODY IN THREE MONTHS, THEN IN THE SPRING THERE WILL BE AN ELECTION NATIONALLY WHERE THE CONSERVATIVES PUT FORWARD A MAN BY THE NAME OF PIERRE POILEVRE.

THE LIBERAL PARTY IS DOWN 25 POINTS.

THE FACT THAT THEY'RE DOWN THAT FAR, THE ODDS OF THEM COMING BACK ARE SLIM TO NONE.

I THINK WHEN THE ELECTION HAPPENS IN THE SPRING, A CONSERVATIVE GOVERNMENT WILL COME IN.

TED: LAST QUESTION HERE, THE LEGACY OF JUSTIN TRUDEAU?

WHAT DO YOU SEE?

>> YOU KNOW, JUSTIN COMING IN TEN YEARS AGO AS THE SON OF AN ICONIC PRIME MINISTER, HE WAS FULL OF ENERGY AND JUST AN AMAZINGLY ACTIVE, COMPETITIVE INDIVIDUAL, WHICH HELPS THE LIBERAL PARTY IN THE CANADIAN GOVERNMENT DURING A VERY DOWN PERIOD OF TIME.

HOWEVER, THAT BEING SAID, AS SHAKESPEARE ALWAYS SAID, YOU GO IN WITH FULL ENERGY, BUT AT THE END OF THINGS YOU USUALLY ARE RELATIVELY DEPLETED AND THE CHARACTERISTICS THAT GOT YOU IN ARE THE THINGS THAT TAKE YOU DOWN, AND EGO IS PART OF THAT.

TED: GLENN WILLAMSON, THANK YOU FOR JOINING US FROM THE CONSUMER ELECTRONICS SHOW IN LAS VEGAS WITH YOUR FANCY HEADPHONES AND YOUR SPEAKER.

GOOD TO HAVE YOU, GLENN.

>> GOOD TO SEE YOU, TED, THANK YOU VERY MUCH.

.

TED: THIS WEEK WE'RE HEARING FROM ADVOCATES ON VARIOUS ISSUES TO FIND OUT WHAT THEY'RE LOOKING FOR FROM THE STATE LEGISLATURE IN UPCOMING SESSION.

WE HEARD FROM ADVOCATES FOR CHILDREN'S ISSUES LAST NIGHT AND TONIGHT WE SPEAK WITH BUSINESS LEADERS, JOINING US IS DANNY SEIDEN, PRESIDENT AND CEO OF ARIZONA CHAMBER OF COMMERCE INDUSTRY.

HAPPY NEW YEAR.

>> HAPPY NEW YEAR.

TED: DANNY, START WITH YOU, WE DO THESE ALL WEEK, AND A LOT OF FOLKS, THE BUSINESS GUYS, YOU GUYS HAVE HAD A PRETTY GOOD RUN HERE, YOU HAVE NOT?

>> YEAH, ARIZONA IS DOING VERY WELL, I'LL BE HONEST, TED, WE'RE HOPING FOR MORE OF THE SAME.

WE'RE HOPING THE LEGISLATURE AND THE GOVERNOR REFLECT THE PRIORITIES WE'VE BEEN ADVOCATING FOR THE PAST DECADE.

SEEING ANNOUNCEMENT AFTER ANNOUNCEMENT, ANOTHER BIG ONE GOING TO ASU AND THE STATE IN TERMS OF ADVANCED RESEARCH AND DEVELOPMENT FACILITY.

THAT WILL LEAD TO NOR JOBS AND ECONOMIC WINS.

EXPECTING TO SEE MORE OF THE SAME GOING TOWARD.

TED: ANY DIFFERENT OUTLOOK, TODD, THIS YEAR THAN LAST YEAR?

>> A MUCH CLEARER ROAD, ONE OF THE THINGS FROM LAST YEAR IS THE IMPERATIVE OF HAVING TRANSPORTATION PLAN THAT WAS FUNDED.

GOT THROUGH THE LEGISLATURE AND VOTERS APPROVED IT.

THEY NEED THE INFRASTRUCTURE.

SO I THINK WE HAVE SOME MORE CLARITY BUT CERTAINLY SOME THINGS WE'RE LOOKING AT LIKE PROP 123, THE CONTINUATION OF THE IMPORTANT FUNDING SOURCE FOR EDUCATION.

TED: IS THAT IMPORTANT?

WHERE DO YOU SEE IT STANDING?

>> WE HAVE HAD SEVERAL CONVERSATIONS, THERE WILL BE A PLAN PUSHED FORWARD TO EXTEND PROP 123.

IT WILL LOOK DIFFERENT THAN THE LAST TEN YEARS.

PASSION FROM THE LEGISLATURE MAKING SURE TEACHERS GET THE BULK SHARE OF THE MONEY.

THEY WANT TO SEE ARIZONA GOIP THE LIST WHAT TEACHERS GET PAID ON AVERAGE.

GOVERNOR HOBBS IS COMMITTED TO GETTING SOMETHING DONE AS WELL.

I THINK OUR NUMBERS ARE EAGER TO SUPPORT PUTTING BILLIONS INTO EDUCATION WITHOUT RAISING TAXES.

>> WHY THINGS ARE SO GOOD, THERE WAS INTENTIONAL EFFORT UNDER GOVERNOR BREWER, UNDER GOVERNOR DUCEY TO SAY PLAN FOR THE FUTURE.

THE BOOM AND BUST CYCLES REALLY HAVE AN IMPACT.

ALL OF THE COMPANIES COMING HERE ARE ONE BIG ISSUE THEY'RE HAVING IS WORKFORCE, AND THERE IS AN ABSOLUTE LINK BETWEEN WORKFORCE AND EDUCATION, SO WE'VE GOT TO MAKE SURE THE FUNDING IS THERE TO GROW THE STATE.

TED: STICKING WITH YOU, ESAs, SHOULD SOMETHING HAPPEN, EVEN AS FAR AS A GUARDRAIL IS CONCERNED?

.

>> THE GOVERNOR WAS ON BOARD WITH THAT.

WE NEED TO WATCH THE NUMBERS, EASY TO SEE EXTREME EXAMPLES AND SEE THAT IN A LOT OF PARTS OF GOVERNMENT.

WHAT ARE THE MAIN THINGS HAPPENING HERE AND ARE THERE ADJUSTMENTS THAT NEED TO BE MADE?

PEOPLE ARE OPEN TO THAT.

>> ARE THEY HURTING PUBLIC SCHOOLS, DANNY?

>> WE ADVOCATE COMPETITION IS A GOOD THING.

PARENTS ARE CHOOSING TO SEND KIDS TO PRIVATE SCHOOLS, WE'RE TALKING TENS OF THOUSANDS OF PARENTING SENDING KIDS TO PRIVATE SCHOOL.

I WOULDN'T SAY IT'S HURTING.

THE HOPE IS WE NEED THRIVING K-12 EDUCATION SYSTEM WHY TODD'S GROUP AND MY GROUP FOUGHT HARD FOR PROP 123.

TO SAY THEY'RE HURTING, I DON'T THINK THERE EVIDENCE IS OF THAT YET.

THERE ARE WAYS CAN YOU BE MORE EFFICIENT AND WAYS PEOPLE CAN HAVE ACCESS TO IT.

THERE WILL BE A LOT OF CONVERSATION AROUND ESAs.

>> WE'RE EMBEDDED IN 21 HIGH SCHOOLS IN MARICOPA COUNTY.

I THINK WHEN WE THINK ABOUT LONG-TERM PAYING TO THE EDUCATION SYSTEM, THE DOLLARS GOING AWAY AND THE BOOM AND BUST.

WE'VE GOT TO CONTINUE TO FOCUS ON SPENDING IN THE RIGHT WAY WITH EDUCATION.

NOT PUTTING CLIFFS IN FRONT OF THEM AND THINK ABOUT THE INVESTMENTS WE MADE AT ASU THAT ARE PAYING OFF.

ONE OF THREE OF THE CHIPS LABS IN THE COUNTRY, BILLIONS OF DOLLARS FOR THE ECONOMY.

THAT'S WHAT WE NEED TO THINK ABOUT.

>> TALKING ABOUT THINGS WE WANT TO SEE THIS SESSION.

WANT TO SEE FUNDING FOR UNIVERSITIES.

IF YOU'RE A REPUBLICAN LEGISLATOR, DEMOCRAT LEGISLATOR, DO THE ROI ANALYSIS, WHAT'S MY RETURN ON INVESTMENT?

THE UNIVERSITIES ARE RETURNING BIG FOR US.

WITH THE ASU WIN YESTERDAY, THAT'S BILLIONS OF DOLLARS COMING IN.

TED: IS THAT THE THING THAT HAS TO WAIT UNTIL YOU GET A BUDGET SURPLUS, A.

AND, B, IN 2026, WHAT'S GOING ON THERE?

>> NEVER TOO SOON TO DO LONG-TERM PLANNING, TED.

WE TALKED ABOUT THIS LAST YEAR WITH THE ACA EXPANSION AND IT PAID OFF.

SAME THING FOR UNIVERSITIES RIGHT NOW.

CENTERS FOR ECONOMIC STIMULUS, IT'S IMPORTANT WE FUND THEM.

RIGHT NOW WE'RE LOOKING AT WOULDN'T CALL IT A SURPLUS BUT THE REVENUES ARE A LOT HIGHER BUT ONE-TIME MONEY.

TED: EXPLAIN THAT.

>> YEAH, VERY DIFFICULT TO BUDGET FOR, YOU CAN FUND ONE PROJECT OR INDIVIDUALS BUT NOT ONGOING.

THIS MONEY IS HERE IN 2024, MIGHT NOT BE THERE IN 25 OR 26 AND 27, YOU HAVE TO BE CAREFUL HOW YOU BUDGET FOR IT.

THE REVENUES ARE COMING IN HIGHER.

WE SHOULD SPEND ON THINGS LIKE UNIVERSITIES.

WE SHOULD REINVEST IN ENERGY INFRASTRUCTURE, A HUGE WIN FOR US.

THERE'S GOING TO BE BILLS WE'RE FIGHTING FOR LIKE SECURITIZATION, ALLOWING UTILITIES TO FUND GROWTH THAT DOESN'T RAISE RATEPAYER MONEY.

TED: WHAT MORE DOES A BUSINESS COMMUNITY WANT AS FAR AS TAXES ARE CONCERNED?

>> LOOKING FOR CERTAINTY.

AND ALONG THE LINES, ONE OF THE BIGGEST ISSUES IS A HIDDEN TAX.

MANDATES ON BUSINESS, WHICH ARE ABSOLUTELY DEVASTATING FOR BUSINESS, AND YOU MIGHT BE SITTING THERE AT HOME THINKING WHAT'S A MANDATE OR TWO TO A MULTIMILLION-DOLLAR BUSINESS OR MULTIBILLION-DOLLAR BUSINESS.

THESE ARE SMALL BUSINESSES IMPACTED BY THE MANDATES ACROSS THE BOARD.

WHAT AM I GOING TO LOOK AT IN TERMS OF HIRING?

CAN I KEEP PEOPLE ON BOARD?

KEEP MY DOORS OPEN?

MANDATES AND TAXES TO BUSINESS, THAT IS ONE OF THE AREAS WE'RE CONCERNED ABOUT.

TED: AND THE FLAT TAX, DO YOU CONSIDER THAT A SUCCESS?

WE HAVE A LOT OF PEOPLE ON THE PROGRAM THAT SAY THE THING IS KILLING THE BUDGET, WHAT DO YOU SAY?

>> WE TALKED ABOUT THE FACT THAT WE'RE SEEING REVENUES INCREASE NOW.

FLATTENING REVENUE, THOSE ARE STARTING TO COME BACK.

LOOKING AT POSSIBLE SURPLUS IN 26.

I THINK THAT THE NUMBERS BEAR THAT OUT.

>> I HAVE TO JUMP IN.

WE WERE ADVOCATES FOR 2% FLAT TAX, IT IS MOST DEFINITELY A SUCCESS.

LED TO BUSINESS GROWTH, LED TO PEOPLE COMING TO ARIZONA AND STAY HERE.

OUR REVENUES ARE COMING BACK IN.

THE FLAT TAX HAD TO BE TRIGGERED BY ECONOMIC CONDITIONS THAT WARRANTED IT.

TED: LAST QUESTION AND QUICKLY, WATER.

GIVE ME A REAL QUICK WISH LIST, WHAT DO YOU WANT TO SEE?

>> FIRST RECOGNITION WHAT THE PROBLEM REALLY IS.

THIS IS A VERY SOLVABLE ISSUE FOR US.

WE USE LESS WATER NOW THAN 1952.

WE KNOW WE CAN SOLVE IT.

WE HAVE TO WORK TOGETHER AND NOT GET IN THE BLAME GAME RESIDENTIAL POINTING AT MANUFACTURING.

THIS IS SOMETHING WE CAN SOLVE TOGETHER AND WATER IS NOT GOING TO HOLD ARIZONA BACK.

TED: LAST POINT HERE, HOW MUCH CAN THE STATE LEGISLATURE DO WHEN THE WHOLE CONTROVERSY IS THIS AND THAT.

>> NOT ONE ENTITY THAT CAN SOLVE THIS.

HAS TO BE THE LEGISLATURE.

THE FEDS AND C.A.P.

TO SOLVE IT.

>> WE ARE USING LESS WATER TODAY THAN 50 YEARS AGO, IT IS IMPORTANT TO GROW.

TED: GREAT CONVERSATION.

THANK YOU FOR JOINING US.

>> THANK YOU.

>> THANK YOU.

.

TED: RETIREMENT PLANS ARE CHANGING THIS YEAR WITH HIGHER LIMITS IN PLACE ON EMPLOYEE CONTRIBUTIONS ON 401(k)s AND ESPECIALLY THOSE FOR 60 TO 63 YEARS OF AGE.

THIS IS PART OF OUR AARP SEGMENT.

JOINING US IS JAY SPECTOR CO-CEO AND PARTNER IN EVEREST FINANCIAL.

PEOPLE NEARING RETIREMENT.

YOU CAN PUT MORE MONEY INTO YOUR 401(k)s?

>> ABSOLUTELY.

A WONDERFUL THING THAT CONGRESS PASSED IN 2022.

IT ALLOWS INVESTORS AGE 60 TO 63 TO PUT ADDITIONAL $11,250 INTO 401(k), WORKPLACE EMPLOYMENT PLAN.

>> THESE ARE CALLED CATCH-UPS, CORRECT?

>> CORRECT.

IT STARTS AT AGE 50 TO AGE 60.

YOU CAN PUT IN ADDITIONAL FUNDS TO GET TO YOU $31,000 A YEAR, AND SPECIAL THREE-YEAR PERIOD WHERE YOU CAN GO TO 34,250 IN SAVINGS AND REVERTS BACK AT AGE 64 TO 31,000.

TED: FROM THE OMNIBUS SPENDING PATCH ENACTED IN 2022.

IS IT WISE FOR SOMEONE THAT CHOSE TO RETIREMENT START DUMPING THIS STUFF INTO 401(k)s OR OTHER AVENUES?

>> PEOPLE ARE LIVING LONGER AND NEED TO SAVE MORE RESOURCES.

HISTORY HAS SHOWN US THAT COMPANIES ARE MOVING AWAY FROM DEFINED PENSION PLANS TO DEFINED CONTRIBUTION PLANS, DEFINED CONTRIBUTION PLANS ARE 401(k) AT YOUR WORKPLACE.

IT'S INCUMBENT ON INDIVIDUALS TO SAVE MORE FOR RETIREMENT.

THEY CAN'T RELY ON PENSIONS ANYMORE, SOCIAL SECURITY IS NOT WHAT IT USED TO BE, MORE AND MORE PEOPLE NEED TO SAVE THEIR OWN RESOURCES TO MAKE THEIR RETIREMENT.

>> Reporter: WHAT ABOUT IRAs WHAT ARE WE SEEING HERE?

>> THE SAME BOAT.

THE CATCH-UP CONTRIBUTION IS ADDITIONAL $50,000.

YOU CAN PUT $8,000 INTO INDIVIDUAL RETIREMENT ACCOUNT.

IF YOU ARE UNDER 50, YOU CAN PUT 7,000 IN.

TED: I ASK THE SAME QUESTION, SOUNDS GREAT.

IF YOU ARE NEARING RETIREMENT, YOU GOT TO BE CAREFUL.

ARE THERE BONDS OR OTHER THINGS THAT ARE SAFER AND A LITTLE MORE SECURE?

>> THINK OF THE IRA AS AN ENVELOPE OR 401(k) OF AN ENVELOPE.

THAT IS THE SAVINGS VEHICLE.

BONDS AND STOCKS AND MUTUAL FUNDS ARE THE INVESTMENT VEHICLE WITHIN THAT ENVELOPE.

SO WHEN YOU'RE PUTTING MONEY INTO A 401(k), YOU HAVE THE OPPORTUNITY TO INVEST IN A MYRIAD OF MUTUAL FUNDS.

TED: MORE THAN 67% THINK THEY ARE BEHIND IN RETIREMENT SAVINGS.

TYPICAL HOUSEHOLD, $10,000 SAVED.

>> YES.

TED: WHAT'S THE MESSAGE THERE?

>> START SAVING.

IF YOU ARE WATCHING THE PROGRAM TONIGHT AND YOU'RE IN YOUR 20s AND 30s, START SAVING.

IN YOU'RE IN YOUR 50s AND 60s, NOT TOO LATE BUT YOU NEED MAKE SACRIFICES, LOOK AT BUDGET, WHERE CAN YOU SAVE MONEY TO HAVE THE RETIREMENT THAT YOU DESIRE.

TED: ANYTHING ELSE OUT THERE AS FAR AS RETIREMENT SITUATION IN 2025 THAT'S CHANGEED?

>> THAT'S THE BIG PIECE FOR THIS YEAR IS THE CATCH-UP FOR 60 TO 63.

TED: WITH THIS IN MIND AND 14% ARE MAXED OUT ON 401(k) LIMITS, ANOTHER STUDY I GOT HERE.

YOU SHOULD BE MAXED OUT?

AT WHAT AGE YOU SHOULD WATCH OUT AS BEING MAXED OUT?

>> MAX OUT AS MUCH AS BUDGET ALLOWS TO YOU FOCUS ON RETIREMENT.

IF YOU WANT TO RETIRE EARLY, YOU NEED THE RESOURCES.

MAXING OUT $30,000.

$34,000 WILL HELP YOU GET THERE BUT SHOULD BE SAVING OTHER RESOURCES ALL ALONG IN ORDER TO GET YOU TO AND THROUGH RETIREMENT.

TED: FOR FOLKS YOU TALKED TO, DO THEY KNOW ABOUT THE CHANGES?

>> THEY DO, WE AND A LOT OF FRIENDS IN THE BUSINESS ARE PREACHING THIS TO THE MASSES.

WE WANT PEOPLE TO SAVE MONEY, WE WANT PEOPLE TO COME IN AND SAY I'M READY TO RETIRE, NOW LET'S MAKE OUR INVESTMENTS WORK FOR US INTO RETIREMENT TO ENJOY.

PEOPLE NEED TO GET THE MESSAGE OUT, PROGRAMS LIKE YOURS ARE HELPING US GET THE MESSAGE OUT THERE IS MORE OPPORTUNITY TO SAVE FOR RETIREMENT FUTURE.

TED: THOSE NEARING RETIREMENTS, COULD BE A VOLATILE STOCK MARKET, I DON'T KNOW WHAT THE WORLD CONDITIONS OR OUR CONDITIONS IN THE U.S. DO THEY HAVE A POINT?

>> THEY DO.

BUT YOU NEED INVEST -- AS YOU ARE IN YOUR 20s, 30s AND 40s, NEED TO LOOK AT RISK TOLERANCE THAT MATCH WHAT YOU ARE COMFORTABLE WITH.

JUST PUTTING IT IN THE STOCK MARKET IS A GENERAL TERM.

INVEST IN HIGH-QUALITY INVESTMENTS TO MAKE SURE YOUR ASSETS GROW OVER TIME.

TED: IF YOU ARE NEARING RETIREMENT, MAXING OUT, NOT A BAD IDEA.

>> NO, NOT AT ALL.

TED: JAY SPECTOR, EVEREST FINANCIAL, GOOD TO HAVE YOU HERE.

>> THANK YOU VERY MUCH, GOOD TO SEE YOU.

TED: THAT'S IT FOR NOW.

I'M TED SIMONS.

THANK YOU SO MUCH FOR JOINING US.

YOU HAVE A GREAT EVENING.