Legislative Session
Mr. President, before she leaves the floor, let me thank Senator Klobuchar for her outstanding remarks. She and Senator Van Hollen have really made the case that we want a tax bill that gives everybody in America the chance to get ahead,…
Mr. President, before she leaves the floor, let me thank Senator Klobuchar for her outstanding remarks. She and Senator Van Hollen have really made the case that we want a tax bill that gives everybody in America the chance to get ahead, not just the people at the top, and I want to commend her for it.
Mr. President, around the country this morning, Americans turned on the news, and they saw panic. Americans are wincing this morning as they look at their retirement accounts. Their savings are down. The cost of their morning coffee and eggs are up. The markets are looking bloody, and people are afraid for their jobs and their own personal finances. Not so for the ultrawealthy. They may not like what they are seeing, but they don't have anything to worry about because they have got an ace in the hole: their Republican allies here in the Senate.
While Donald Trump torches what used to be the world's strongest economy, Republicans scramble to pass a bailout for billionaires and big corporations. While typical families panic, the billionaires can go shopping for luxuries--for real estate, for yachts--safe in the knowledge that Senate Republicans have their backs.
That is what this debate is all about. Donald Trump is taking the United States back to economic policy that predates the light bulb. He is slapping random taxes on imports from all over the world--tariffs that are effectively huge tax increases on products American families and businesses use every day.
Donald J. Hoover says he is not going to back down, and that is terrible news for everybody who counts on a steady paycheck to be able to get by. Everything from cars and machinery right down to T-shirts and your morning cup of coffee--it is all going to cost a whole lot more because of what Donald Trump is doing. Small businesses are going to get clobbered. Parents are going to need to take out second mortgages just to take their kids back-to-school shopping. They are facing an increase in the cost of living by thousands of dollars each year. Big businesses are panicking too. They are worried about the prospect of a full trade war.
The only thing preventing an even larger panic and collapse is the faint hope that somebody--somebody--may be able to convince Trump to back down. Personally, I wouldn't wager on it. That is the economic carnage Trump is creating around the country.
Here on Capitol Hill, Senate Republicans are charging forward with a bailout for billionaires and corporations that, according to the Joint Committee on Taxation, could cost $7 trillion.
People following along at home are going to hear a lot of sweet- sounding promises from Republicans about what they are trying to accomplish. They claim their tax bill is just all unicorns and rainbows. They will say everybody is going to benefit from a tax cut and typical families will get the help they need. They will promise rising wages and a booming economy. It is just not true.
The reality is, unless you are way out at the upper end of the income scale,
any benefit you get from this Republican bill is going to get blown out of the water as the Trump tariffs continue to hike inflation. If you are somebody who punches a timeclock or keeps an eye on the bills every month to make sure you can get by, there is no good news for you in what the Republicans are trying to accomplish.
So they move ahead with their $7 trillion tax agenda, but there is no way to cover that cost without taking a wrecking ball to the Medicaid Program, and that is their plan. It will be devastating for tens of millions of Americans, with seniors and kids bearing the brunt.
I remember this from my days as director of the Gray Panthers, but I can tell you, Medicaid pays for two out of three nursing home beds in the Nation. If Republicans move forward with their nearly $1 trillion in cuts to Medicaid, countless families will have to make impossible choices between keeping an aging parent or grandparent in a nursing home they can barely afford or bringing them home to try to care for them on their own.
Medicaid covers nearly 38 million kids in America. That includes half of all American kids with special healthcare needs. These cuts to Medicaid will set those kids back for the rest of their lives. Millions of parents will be left wondering how they will pay for the home-based care their children rely on to go to school every morning.
And let's be clear. These cuts may be partisan in Congress, but their consequences will transcend party lines. Medicaid cuts are going to hit red and rural parts of America the hardest. Hospitals, nursing homes, and other providers in rural communities all over the country right now are barely hanging on. They depend on Medicaid. If these Republican cuts go through, rural America will become even more of a healthcare desert.
So I, Mr. President, and colleagues will be offering an amendment to block these Republican Medicaid cuts and the damage they are going to do to millions of vulnerable Americans.
It is not only Medicaid that Republicans target. Countless other lifelines that seniors and families rely on are on the chopping block: Meals on Wheels, which helps seniors get a hot meal; Head Start, which helps kids get set up for success in the future with early learning and development; food assistance that is going to help millions of families stay out of hunger. Donald Trump even wants to gut the technology- neutral clean energy tax credits I authored, which would increase costs for consumers, wipe out potentially hundreds of thousands of jobs, and devastate energy security.
This is the hardship Republicans inflict on America and particularly on people who struggle to get by, and this is how Donald Trump is going to protect his ultrawealthy political donors from chaos. It is a one- two punch. Not only are typical American families facing economic ruin as Trump hikes tariffs and increases the cost of living, not only are they panicking as the market crashes and their retirement savings shrink, but now they have Republicans here in this Senate coming after their pocketbooks, their healthcare, and the food on their dinner table.
As I began, it is clear Donald Trump is completely out of touch. He and his advisers don't give a whit about the harm they are causing to typical Americans. And you don't have to take it from me; Donald Trump literally says it himself. Talking about auto manufacturers, he says:
I couldn't care less if they raise prices.
After yesterday's market crash, Donald Trump was asked about the tariffs and said:
I think it's going very well.
Let me repeat that. Yesterday, after the crash, Donald Trump was asked about the tariffs that this morning are hitting so many working people, and Donald Trump said:
I think it's going very well.
The Secretary of the Treasury is on his own all-is-well media tour. Recently, he said:
Access to cheap goods is not the essence of the American
dream.
I don't know about this billionaire's interpretation, but I will tell you what is not part of the American dream: getting charged 10 bucks for a cup of black coffee because the Trump administration is too incompetent to figure out a smart approach to tariffs.
A few days ago, with concerns bubbling up over what tariffs would do, the Secretary of the Treasury said:
The reason stocks are a safe and great investment is
because you're looking over the long term.
The long-term spin is as dismissive as it gets. Try telling that to a 65-year-old who scrimped and saved and was planning on retiring this month, only to see their 401(k) deflate like an old balloon.
Nothing can illustrate how out of touch these guys are more clearly than what Trump said this week during his rambling press conference announcing his tariffs. Listen to this. Talking about shopping for food, Donald Trump actually said:
An old fashioned term that we use--groceries. I used it on
the campaign. It's such an old fashioned term, but a
beautiful term. Groceries. It says a bag with different
things in it.
So in closing, Mr. President, it is obvious that Donald Trump has not got the first clue of how the vast majority of Americans live or the hardships they face in the months and years ahead as he wrecks the economy. What is he doing now? He is hobnobbing down in Florida at his private country club resort, where the Saudi Government is helping financially with a splashy golf tournament.
All the Trump administration is focused on--and this is what he is apparently dealing with at his golf tournament--along with Republicans here in Congress, is passing this bailout for billionaires and corporations while everybody else fears for what tomorrow will bring.
As the debate goes forward, Democrats are going to offer a whole host of amendments to put what I believe is a morally bankrupt bargain on full display for the American people. It is going to be a long debate, but it is an important one.
I yield the floor.
Madam President, once again, Senator Sullivan is out here saying that he is for protecting vulnerable people, but by not defining the vulnerable, the Sullivan amendment is code for States to cut benefits or kick people off their coverage altogether.
To me, the Sullivan amendment basically says that if somebody thinks you are not poor enough, you are not sick enough, or you are not disabled enough, we are not going to be there for you.
Here is the difference between now and 2017: We learned during the pandemic how important expanded Medicaid is to vulnerable people, and this language that my colleague from Alaska is offering doesn't protect vulnerable people.
So I urge my colleagues strongly to oppose it.
I yield.
Vote on Amendment No. 2035