Trade Review Act of 2025

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, yesterday, Donald Trump made one of the dumbest decisions he has ever made as President, and that is saying something. The tariffs Donald Trump approved yesterday are far, far worse than we thought. It is the largest tax hike on families since World War II.

Yesterday was not ``Liberation Day''; it was tax day. ``Middle class, pay more taxes,'' Donald Trump is telling you. That is what the day is all about.

This morning, naturally, the markets are plunging. The Dow is down 800 points, and the S&P is already on track for its worst day in years. Donald Trump has singlehandedly created a financial forest fire.

Trump called yesterday ``Liberation Day.'' Nobody was feeling even close to liberated--quite the opposite. American families are learning the hard way that Donald Trump has them right in the middle of a pincer and is squeezing them on both sides.

On the one side, Donald Trump is pushing tariffs that will cost working families an extra $5,000 a year, and by his own admission, he ``could not care less.'' On the other side, Donald Trump is working with Republicans to gut vital programs working families rely on, like Medicaid, Social Security, veterans programs.

So there is a pincer: Trump's tariffs raise costs and pick people's pockets on one side, and Trump's budget and his

budget cuts are taking away healthcare and benefits and veterans' care on the other side.

Now, there are smart ways to use tariffs, and there are dumb ways to use tariffs. Donald Trump is using tariffs in the dumbest way imaginable. In fact, Donald Trump slapped tariffs on penguins and not on Putin. Trump sanctioned the Heard and McDonald Islands, only inhabited by penguins. That is what happens when you don't have a clue as to what you are doing. You fire air traffic controllers, dismantle disease-outbreak monitoring, sabotage Social Security and VA operations, censor climate data, defund public schools, and declare a trade war on penguins.

What is going on? Prices on groceries, prices on electronics, appliances, metal, beer, furniture, fertilizer, and so much more will go up. People's retirements are in peril as markets are in turmoil across the globe. And Donald Trump says, ``I couldn't care less.'' That is his quote, America. You are getting squeezed on both sides by his tariffs and his budget, and he says, ``I couldn't care less.''

The American people are learning quickly that Donald Trump is breaking all the promises he made in the campaign and he is not on their side. He couldn't care less. It is truly unbelievable to watch the sheer destruction Republicans are inflicting on Americans.

We aren't even 100 days into President Trump's second term, and the Republicans this week will plow ahead to take away people's Medicaid. They are letting Elon Musk sabotage Social Security. He says it is a Ponzi scheme. He says he is OK if it is eliminated. What do these rich people know about how middle-class people struggle? It is a little coterie of billionaires that is running policy.

As I said, the middle class is getting squeezed by the pincers on both sides.

What are they doing firing tens of thousands of epidemic responders, healthcare workers, food inspectors, abandoning veterans? And now, on top of all of that--it has been bad enough before ``Liberation Day,'' which is tax day--Americans are going to pay $5,000 a year through his tariffs. For what? Why are they doing all this? Why would they do all this? Why would they hurt people, so many people in so many ways? Why would they have that pincer squeeze them? I will tell you why. One thing. One reason. Tax breaks for the billionaires. As I said, this is a coterie of billionaires running the government--Trump and Musk and Lutnick and so many others. You heard the net worth of his Cabinet; it is incredible. Cutting taxes for billionaires makes them squeeze the American people. It is utterly disgusting.

President Trump should reverse course on his disastrous tariffs immediately--immediately--or else he risks plunging America into a recession. Some of the leading banks, the leading financial analysts with no ax to grind, have greatly increased the odds that we will have a recession because of what Trump is doing.

What President walks mindlessly into a recession, which means it is harder to get a job, harder to keep a job, harder to pay the bills? What President does that?

So I am calling on the House and Speaker Johnson, given how bad Trump's tariffs are--they now know it--to come back into session and vote on the Senate's bipartisan bill undoing the tariffs on Canada, the bill we passed yesterday with bipartisan support because a few Republicans had the courage of their convictions and voted against the President and for Senator Kaine's very, very timely and needed bill. If the Speaker really cares about the American people and the costs they would bear by these tariffs, he should call back the House and take up the Senate bill immediately.

The American people care about one thing above all--and they care about a lot of things, but at the top of the list is inflation. That is the No. 1 thing on people's minds. We heard that over and over again on last November's election day and ever since. And Donald Trump said in his campaign that he would reduce prices on day one when he got elected. He is doing just the opposite. He is not reducing prices; he is dramatically raising them $5,000 a year on the average American family. And by his own omission, Donald Trump said ``I couldn't care less.''

Government Funding

Mr. President, on the budget, this week, Donald Trump and the Republican Party are hitting Americans with a brutal one-two punch.

On one side, Trump has hit Americans with a massive tax hike through his extremely dumb tariffs. On the other side--they are unfocused, just unfocused. On the other side, Senate Republicans are getting ready to take away vital programs, throw people off Medicaid--all so they can give massive tax breaks to billionaires. It is a brutal Republican pincer move, with American families trapped in the middle.

Trump's tariffs raise costs and pick people's pockets on one side, and Trump's budget cuts are taking away healthcare and benefits and veterans' care on the other side.

If Republicans pass their agenda, 80 million Americans will be at risk of losing coverage. Rural hospitals, community health centers, and nursing homes will be at the risk of closure.

If Republicans proceed this week, Senate Democrats will expose their agenda for the American people to see. We will pick their bill apart. We will put them on record. We will force Republicans to explain in multiple ways again and again and again why they want to cut taxes for the rich at the expense of working people.

Senate Republicans are so hell-bent on cutting taxes for billionaires, they seem ready to detonate the rules of the Senate and break their word to get it done. Republicans spent years preaching about preserving Senate rules and protecting regular order, but now that their billionaire tax cuts are on the line, the rules don't seem to matter for them.

We all know what is going on here. We know. Senate Republicans don't want to admit that their plan to make these tax cuts permanent will add $37 trillion to the debt--$37 trillion. That more than doubles the totality of our national debt today--more than doubles it. It is reckless, and it is dangerous.

So Republicans in essence want to pretend like their trillion-dollar tax cuts are free, like magic, or, as Chip Roy, one of the most conservative Republicans around here, said, like ``fairy dust.'' A middle school math student could tell you this is ridiculous.

House Republicans must tread carefully. I say that to them over there, particularly the ones on the hard right. If they go along with this dangerous gimmick hatched by Senate Republicans, they will pave the way to add $37 trillion to the debt. Republicans will forever incinerate any credibility they have to complain about debt and deficits.

When you go home, Senate Republicans, don't tell your constituents that you want to cut the debt--$37 trillion. And far worse than that, these billionaire tax breaks and the gargantuan deficit that they will create will haunt our children and our grandchildren with sky-high interest rates, a hobbled economy, and rampant inequality. It is not the world I want my grandchildren to grow up in.

House Republicans must not go along with this dangerous plan by Senate Republicans.

I yield the floor.

I suggest the absence of a quorum.

Mr. President, I rise today to speak about the important role that Congress plays in ensuring our economy remains strong, and very important for the American people, to lower costs.

That is why today I am inducing legislation by myself and Senator Grassley. Congress has a duty to ensure that our country remains competitive and leads in the global marketplace. American families rely on our economy for goods and to make ends meet and to provide shelter.

American manufacturers rely on an economy to maintain resilient supply chains, keep production lines open--and that means aircraft from Everett, WA, or cars and trucks from Detroit, MI.

American farmers rely on our economy to keep fields planted-- production in eastern Washington and northern and central Iowa depend on the cost of fertilizer, seed, and equipment.

Small business owners across the country depend on consumer confidence in our economy so that they can keep sales and stay afloat. Sharp increases propose a major threat to that economy.

Inflation and high costs are a threat to stability and prosperity of American

businesses of all size, to our farmers, and to our consumers. We live now in an interconnected world--a global economy--and advances in technology and transportation have brought that world closer and closer together. We have a global economy.

That is why it is so important to have rules-based trading systems that have been in place since World War II, and it is the bedrock of a global economy. That is to have rules. Rules-based trade is essential to have predictable and stable trade and promoting economic growth and development and global cooperation.

No doubt, opening up markets has grown the pie, not just for those economies, but for the U.S. economy. When you establish clear rules- based mechanisms, you can also resolve trade disputes and encourage more investment and more trade.

Businesses need this certainty to move forward with deals, to reach new markets, and grow. But now we are seeing a barrage of tariffs on at least 185 countries.

We cannot have arbitrary policies create chaos and uncertainty. These kinds of chaos and uncertainty kill business investment and make for very challenging stock market assessments of investments for the future based on predictability.

The current approach, in my opinion, is outside the predictable, rules-based system. It is arguable that the current approach is literally a misconstruction of statutory authorities.

But what we know today for sure is that 95 percent of the world's consumers are outside of the United States. That means the global middle class includes almost 4 billion people. Those are markets for American businesses, for farmers to reach to grow and prosper.

According to the World Bank, in the recent decade, trade has lifted 1 billion people out of poverty. My colleagues here, who have worked on deals in the past that opened up markets in places like Chile, Peru, Singapore, the Central America Free Trade Agreement, the update of the USMCA, all know that this hard work created economic opportunity.

Our trade agreements helped American farmers export $176 billion in agricultural products last year. They helped ensure that the United States is the world's largest agriculture exporter, with soybeans and corn leading the way as the top export.

I want to return to trade agreements. I want to open up more markets. I want us to have a robust export opportunity for the excellent U.S. manufactured and grown products.

Our trade agreements have ensured that the U.S. remained the second largest exporter of manufactured goods in the world--$2.06 trillion in 2024.

And it is clear today, the United States must be competing hard to win in the race for emerging technologies like AI and quantum. Our foreign adversaries and our competitors are in this global race too.

So that is why economic disruption puts America at risk. Straining ties with trade alliances also put us at a security risk. Trade wars have lasting consequences. Trade wars devastate Americans working families and small businesses and manufacturers.

Article I, section 8 of the U.S. Constitution gave Congress--gave Congress--the explicit authority to impose duties and regulate commerce, given the far-reaching impact to our national economy that I just mentioned.

As ranking member of the Commerce Committee, and my colleague from the Senate Finance Committee, we both know how much our Nation needs to continue to have interstate commerce and to have foreign commerce.

Since the 1930s, Congress has enacted or directed the President to negotiate trade deals, including authority to negotiate the agreements and impose or adjust tariffs.

But I think these Presidents have used this authority correctly by opening up markets, lowering tariffs, and establishing a rules-based trading system. The current approach, I believe, is creating uncertainty and certainly raising costs unnecessarily.

Businesses rely on certainty and transparency from a rules-based trading system. So how has Congress done on these issues? Well, it is time, I believe, for Congress to reassert ourselves in our constitutional duties.

Article I of the Constitution also gave Congress the power to declare war. The Founding Fathers wanted to prevent any single individual from unilaterally committing our Nation to war. The Founding Fathers wanted to ensure that we had a strong check and balance.

I believe the same check and balance needs to exist now as it relates to protecting our commerce activities and any Presidential overreach that is not a rules-based approach.

Congress, in the War Powers Act, decided to reclaim its authority because they thought a President had overreached. Senator Grassley and I are trying to do the same thing today by introducing the Trade Review Act of 2025.

Trade wars--which frequently trigger sharp price increases, foreign retaliation, and huge shock impacts to our economy--could affect the livelihood of workers, supply chain manufacturers, and hard-won markets that American exporters have wanted to see continue to be open.

I want to thank Senator Grassley for his leadership over many years for American farmers, for the people of Iowa, and for our country. I want to thank him for working with me on the introduction of the Trade Review Act of 2025 that ensures that Congress plays its constitutional role in making sure that, as our Founding Fathers intended, we set the duties and regulate foreign commerce.

This important reassertion of Congress's constitutional role is important so we have a strong voice in trade policy. This legislation, as I said, modeled after the War Powers Act, says that a President must notify Congress within 48 hours of imposing or raising tariffs, provide an explanation of why they are warranted, and an assessment of their likely impact on American businesses and consumers.

Our legislation, though, protects that constitutional authority by also saying these tariffs should be reviewed by Congress for approval or disapproval, and doing so is in the best interest of our country.

I can't tell you how challenging I think competition in a fast-moving information age global economy is. We can't afford a trade war that lasts for 2 or 3 years, leaving our product off the shelves.

We must reassert Congress's role over trade policy and ensure that a rules-based trade system is based on transparency, consistency, and the benefits of the American public.

Mr. President, I rise today to speak about the important role that Congress plays in ensuring our economy remains strong, and very important for the American people, to lower costs.

That is why today I am inducing legislation by myself and Senator Grassley. Congress has a duty to ensure that our country remains competitive and leads in the global marketplace. American families rely on our economy for goods and to make ends meet and to provide shelter.

American manufacturers rely on an economy to maintain resilient supply chains, keep production lines open--and that means aircraft from Everett, WA, or cars and trucks from Detroit, MI.

American farmers rely on our economy to keep fields planted-- production in eastern Washington and northern and central Iowa depend on the cost of fertilizer, seed, and equipment.

Small business owners across the country depend on consumer confidence in our economy so that they can keep sales and stay afloat. Sharp increases propose a major threat to that economy.

Inflation and high costs are a threat to stability and prosperity of American

businesses of all size, to our farmers, and to our consumers. We live now in an interconnected world--a global economy--and advances in technology and transportation have brought that world closer and closer together. We have a global economy.

That is why it is so important to have rules-based trading systems that have been in place since World War II, and it is the bedrock of a global economy. That is to have rules. Rules-based trade is essential to have predictable and stable trade and promoting economic growth and development and global cooperation.

No doubt, opening up markets has grown the pie, not just for those economies, but for the U.S. economy. When you establish clear rules- based mechanisms, you can also resolve trade disputes and encourage more investment and more trade.

Businesses need this certainty to move forward with deals, to reach new markets, and grow. But now we are seeing a barrage of tariffs on at least 185 countries.

We cannot have arbitrary policies create chaos and uncertainty. These kinds of chaos and uncertainty kill business investment and make for very challenging stock market assessments of investments for the future based on predictability.

The current approach, in my opinion, is outside the predictable, rules-based system. It is arguable that the current approach is literally a misconstruction of statutory authorities.

But what we know today for sure is that 95 percent of the world's consumers are outside of the United States. That means the global middle class includes almost 4 billion people. Those are markets for American businesses, for farmers to reach to grow and prosper.

According to the World Bank, in the recent decade, trade has lifted 1 billion people out of poverty. My colleagues here, who have worked on deals in the past that opened up markets in places like Chile, Peru, Singapore, the Central America Free Trade Agreement, the update of the USMCA, all know that this hard work created economic opportunity.

Our trade agreements helped American farmers export $176 billion in agricultural products last year. They helped ensure that the United States is the world's largest agriculture exporter, with soybeans and corn leading the way as the top export.

I want to return to trade agreements. I want to open up more markets. I want us to have a robust export opportunity for the excellent U.S. manufactured and grown products.

Our trade agreements have ensured that the U.S. remained the second largest exporter of manufactured goods in the world--$2.06 trillion in 2024.

And it is clear today, the United States must be competing hard to win in the race for emerging technologies like AI and quantum. Our foreign adversaries and our competitors are in this global race too.

So that is why economic disruption puts America at risk. Straining ties with trade alliances also put us at a security risk. Trade wars have lasting consequences. Trade wars devastate Americans working families and small businesses and manufacturers.

Article I, section 8 of the U.S. Constitution gave Congress--gave Congress--the explicit authority to impose duties and regulate commerce, given the far-reaching impact to our national economy that I just mentioned.

As ranking member of the Commerce Committee, and my colleague from the Senate Finance Committee, we both know how much our Nation needs to continue to have interstate commerce and to have foreign commerce.

Since the 1930s, Congress has enacted or directed the President to negotiate trade deals, including authority to negotiate the agreements and impose or adjust tariffs.

But I think these Presidents have used this authority correctly by opening up markets, lowering tariffs, and establishing a rules-based trading system. The current approach, I believe, is creating uncertainty and certainly raising costs unnecessarily.

Businesses rely on certainty and transparency from a rules-based trading system. So how has Congress done on these issues? Well, it is time, I believe, for Congress to reassert ourselves in our constitutional duties.

Article I of the Constitution also gave Congress the power to declare war. The Founding Fathers wanted to prevent any single individual from unilaterally committing our Nation to war. The Founding Fathers wanted to ensure that we had a strong check and balance.

I believe the same check and balance needs to exist now as it relates to protecting our commerce activities and any Presidential overreach that is not a rules-based approach.

Congress, in the War Powers Act, decided to reclaim its authority because they thought a President had overreached. Senator Grassley and I are trying to do the same thing today by introducing the Trade Review Act of 2025.

Trade wars--which frequently trigger sharp price increases, foreign retaliation, and huge shock impacts to our economy--could affect the livelihood of workers, supply chain manufacturers, and hard-won markets that American exporters have wanted to see continue to be open.

I want to thank Senator Grassley for his leadership over many years for American farmers, for the people of Iowa, and for our country. I want to thank him for working with me on the introduction of the Trade Review Act of 2025 that ensures that Congress plays its constitutional role in making sure that, as our Founding Fathers intended, we set the duties and regulate foreign commerce.

This important reassertion of Congress's constitutional role is important so we have a strong voice in trade policy. This legislation, as I said, modeled after the War Powers Act, says that a President must notify Congress within 48 hours of imposing or raising tariffs, provide an explanation of why they are warranted, and an assessment of their likely impact on American businesses and consumers.

Our legislation, though, protects that constitutional authority by also saying these tariffs should be reviewed by Congress for approval or disapproval, and doing so is in the best interest of our country.

I can't tell you how challenging I think competition in a fast-moving information age global economy is. We can't afford a trade war that lasts for 2 or 3 years, leaving our product off the shelves.

We must reassert Congress's role over trade policy and ensure that a rules-based trade system is based on transparency, consistency, and the benefits of the American public.

Mr. President, as early as today, we expect to take up a budget resolution that will lay the groundwork for delivering on the Republican agenda. This resolution is the first step toward a final bill to make permanent the tax relief we implemented in 2017

and deliver a transformational investment in our border, national and energy security--all accompanied by substantial savings measures and commonsense reforms to our government.

And at the prospect of this, Democrats are losing their minds. Their opposition to the 2017 tax relief, of course, is well known. Since the day the Tax Cuts and Jobs Act was passed, and before, Democrats have attempted to mischaracterize--and some would say flatout lie--about this legislation.

In fact, the Washington Post Fact Checker has repeatedly issued three- and four-Pinocchio responses to Democrats' claims, which center around the falsehood that the Tax Cuts and Jobs Act was about handouts to corporations and billionaires.

The truth, of course, is not only did the Tax Cuts and Jobs Act cut taxes for every income group, but it was working families--working families--not the wealthy, who received the greatest proportional benefit.

Let me just repeat that: The truth is that not only did the Tax Cuts and Jobs Act cut tax rates for every income group, but it was working families, and not the wealthy, who received the greatest proportional benefit. Those are the facts.

But, of course, the facts have not gotten in the way of Democrats continuing to claim that extending this tax relief is about handouts to billionaires.

The Democrats' latest hysteria is centered around the application of budget rules we will use for this week's budget resolution. They claim that using current policy baseline is somehow destroying Senate rules, even though the 1974 Congressional Budget Act, which governs this budget resolution, clearly states that it is the chairman of the Senate Budget Committee who determines the budget baseline used for budget resolutions.

The senior Senator from Vermont, who caucuses with the Democrats, confirmed that it is the chairman's role in a 2022 report when he was chairman of the Senate Budget Committee. And, of course, Democrats themselves have previously advocated for the use of a current policy baseline. They basically invented it back in 1977, shortly after the Budget Act was enacted.

Chairman Muskie, a Democrat from Maine and chairman of the Budget Committee, used a current policy baseline in his budget resolution because he thought it represented a more realistic benchmark.

More recently, President Obama's fiscal year 2013 budget assumed $4.5 trillion of expiring tax cuts would be extended in the Democrat's baseline, matching current policy at the time.

Jump forward to the Biden administration's most recent budget, in which Democrats explained that:

Adjustments to the . . . baseline are needed to better

represent the deficit outlook under current policy and to

serve as a more appropriate benchmark against which to

measure policy changes.

So using the current policy baseline is not some bizarre new gimmick.

I should also note, of course, that the Senate Parliamentarian has deemed the Senate budget resolution, which uses the current policy baseline, in order and ready for floor consideration.

Democrats' sudden concern for saving money and protecting the character of the Senate is touching. Who would have guessed that the party that was so eager to tear down a fundamental Senate institution, mere months ago, by killing the Senate filibuster would suddenly develop such a passionate interest in defending the character of the Senate?

But their hysteria is misplaced.

I do understand that Democrats are uncomfortable with the idea of tax relief. When you think that government knows best and when your enthusiasm for new government programs is virtually unlimited, it is no surprise you would prefer to maximize the flow of taxpayer dollars to the government.

But Republicans believe, fundamentally, that Americans know best what to do with their money.

And so no matter how many times Democrats attempt to distort or outright lie about what we are trying to do here, Republicans intend to deliver a permanent extension of the tax relief that we passed in 2017.

Failing to extend this tax relief would result in a $2.6 trillion tax increase on those making less than $400,000 a year, as well as a $600 billion tax increase on small businesses.

A typical family of four making $80,000 a year would end up sending an additional $1,700 to the government next year--$1,700. I am quite sure they have better uses for that money than sending it to Uncle Sam.

I said ``make this tax relief permanent,'' and I do mean permanent. Senate Republicans are united with the President in viewing a temporary extension as unacceptable. Americans should not have to live in fear of a tax hike every few years. And small businesses, including family farms and ranches, like those in my home State of South Dakota, need certainty about the tax outlook so they can plan for the future. Making the Tax Cuts and Jobs Act permanent will ensure that Americans' take- home pay does not go down, and it will have significant economic benefits.

The National Federation of Independent Business reports that making the small business section 199A deduction permanent would result in the creation of an additional 1.2 million jobs annually, with that number climbing as the law goes on.

And the Tax Foundation reports that long-run gross domestic product would increase by a substantial 1.1 percent. That means more jobs and more opportunities for American workers and, interestingly enough, increasing Federal revenues, to the tune of about $3 trillion, which is the right way--the right way--by growing the economy.

When the economy is growing and expanding, people are working, they are making money, they are taking realizations, they are paying taxes. And do you know what? Government revenue goes up, not down, which is exactly what we experienced when we passed the 2017 Tax Cuts and Jobs Act, 8 years ago now.

As I said earlier, it was working families, not the wealthy, who received the greatest proportional benefit from that Tax Cuts and Jobs Act, and it is working families, not the wealthy, who will see the greatest proportional benefit for making this tax relief permanent.

We are here to make sure that hard-working Americans have more breathing room, to make sure that our economy is providing them with jobs and opportunities and that they are not facing lower paychecks next year.

I was proud to help draft the 2017 tax relief and put more money in American families' pockets, and I look forward to permanently extending it in the near future.

I yield the floor.

I suggest the absence of a quorum.

Mr. President, I just listened to my colleague from Kansas. It is just commendable, the example he has set of going and visiting absolutely every single one of the hospitals in the State of Kansas. It is an example for all of us to get out and talk to our constituents and listen to what they have to say. The senior Senator from Kansas has, I think, set an example for all of us. He visits every county in his State repeatedly, yearly, and it is a model for all. So I am happy to hear him address these issues in this body this morning.

Current Policy Baseline

Mr. President, I also heard speak the Senator from New York, Senator Schumer, and what I heard him do is something different. What he did is he mischaracterized a budget term called the ``current policy baseline.''

First and foremost, the Budget Committee has consulted with the Senate Parliamentarian on the substitute amendment that we are bringing to the Senate today. The Parliamentarian has deemed it appropriate for consideration under the Congressional Budget Act. The Budget Act is also clear. The Budget Committee chairman decides the baseline.

I served in this body when it was the Democrats who were arguing in favor of the current policy baseline. That was in 2013 when President Barack Obama was in the White House. The Obama administration and the Senate Democrat majority at the time argued that a current policy baseline was the ``appropriate reference point'' when it extended existing tax policy. Senate Republicans are simply following the law and the standard that the Obama administration wanted followed in 2013.

The current policy baseline is how we make the tax cuts permanent. It is how we stop a $4 trillion tax increase--a tax increase supported unanimously by today's Senate Democrats because, for the Senate Democrats, their favorite day is coming soon: tax day, April 15.

Millions of Americans today are filling out their tax forms, and people are going to spend time this weekend trying to get it right. As they do, I ask myself and wonder if these people who are working so hard at home--hard-working people, earning money, and having to fill out their tax forms--if they realize that Democrats right here in the U.S. Senate want to raise those taxes by a cumulative number of $4 trillion.

Look, a $4 trillion tax increase on American families would be devastating. Senate Republicans are fighting against it. Republicans want to make the 2017 tax cuts permanent. We want to reverse the Democrat failures of the past 4 years. We are focusing on getting America back on track.

Let's look at the tax cuts that occurred a number of years ago. Tax reform restored fairness and simplicity to the Tax Code. Americans are better off because of it. It is one of the things that resulted in the best economic times of my life.

Within 2 years of passing the tax cuts, the United States added millions and millions of new jobs. Unemployment fell dramatically to its lowest point in 50 years. Many businesses grew and invested. Most importantly--most importantly--hard-working Americans had more money in their pockets to spend.

In Wyoming, I heard of one local business owner who used the tax cuts

to give his employees a raise. He also expanded his business--more jobs, more economic opportunities for people in his part of the State of Wyoming. This is what happens when Washington taxes less and taxpayers get to keep more of their hard-earned money. It is good for families, and it is good for businesses. It is good for our Nation. In Wyoming and across the country, millions and millions of workers are benefiting from the higher pay, the bigger bonuses, and the best opportunities that come from lower taxes. By making these tax cuts permanent, businesses and families will get the stability and the certainty they need in order to thrive.

Ninety percent of Americans saw their taxes go down because of tax reform. It would be disastrous if the tax-and-spend Senate Democrats-- those who brought us the highest inflation in our lifetime--were to choke off the chance for Americans to keep more of their hard-earned money. American families would see their taxes go up if the Democrats get their way. Twenty million businesses would see their taxes go up if Democrats get their way. Six million jobs and $540 billion in wages could be erased if Democrats get their way. In all, families, workers, and job creators are facing a $4 trillion tax increase.

When Republicans passed this Tax Cuts and Jobs Act, Speaker Nancy Pelosi--she was Speaker of the House of Representatives at the time, from California--famously dismissed the savings and the bonuses and the benefits. She said that these wins for workers--she described them as ``crumbs.'' Democrats continue to dismiss the burden of higher taxes.

Listen to what Senator Elizabeth Warren of Massachusetts said. She said that cutting taxes was nothing more than ``tossing a few crumbs'' at the American people.

Listen to what Senator Cory Booker of New Jersey said. He blamed workers who received bonuses from tax reform for ``driving up the debt.'' I don't recall him saying that in his last 25 hours on the floor of the Senate. He didn't repeat it again.

Democrats are out of touch with America's families. That is what is happening here. It has been proven by the results of the November election, and their condescending liberal attitude is a threat to the American dream. They just think they know better than everybody else.

It is wrong for Democrats to force hard-working taxpayers to pay for wasteful Washington spending. Fortunately for the hard-working taxpayers of this country, President Trump is in the White House, Senate Republicans are in the majority, and common sense is coming to Washington. Senate Republicans are going to continue to put an end to this wasteful Washington spending because we stand with the American workers, with the job creators, and with the small businesses of this country. Hard-working taxpayers are soon going to see where each and every Senator stands.

I yield the floor.