'It's Still A 10% Tax': Seth Magaziner Pans Trump's 'So-Called Pause' On Tariffs

2 days ago

During debate on the House floor, Rep. Seth Magaziner (D-RI) tore into President Trump's announcement that he would be lifting many of his tariffs, and slammed House GOP leadership for trying to block a vote in the House to check Presidential tariff authority.

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Transcript

00:00Thank you very much to the ranking member.

00:03Listen, Donald Trump's tariffs are the biggest tax increase on the middle class in this country

00:10in generations.

00:12Even with today's so-called pause announcement, he is still putting a 10 percent tax on food,

00:19on energy, on essentials that Americans need to keep up with the high cost of living.

00:24The number one thing that I hear in my district, that I know everybody hears in their district,

00:28is the cost of living is too high.

00:30So why in the world is this president increasing the cost of living for millions of middle class

00:37Americans?

00:39At the same time, the stock market is tanked, even after today's so-called pause, which

00:45is not a pause because it's still a 10 percent tax.

00:49Even after this so-called pause, the S&P is down 10 percent since Trump took office, trillions

00:55of dollars of people's retirement savings wiped out.

00:58And so what are our Republican colleagues doing to respond to this insanity?

01:04They are trying to pass a rule that says that Congress cannot overturn these tariffs.

01:11Even though the Constitution gives Congress and not the president the sole authority to

01:18levy tariffs.

01:20Why are my Republican colleagues even bothering showing up to work?

01:24They are just giving the executive branch all of the powers that the Constitution had

01:30originally given to the Congress.

01:33So why are they even bothering to show up if they're just going to give all of our constitutional

01:39authority to the executive to levy these taxes on middle class Americans who can't afford

01:44it?

01:45And I'll tell you why they're still showing up, because as Mr. McGovern said, this rule

01:50also includes the next step in a budget plan that would cut taxes for billionaires at the

01:58same time that it cuts health care for working people.

02:03And the math doesn't lie.

02:06This budget plan requires $880 billion of cuts under Energy and Commerce.

02:19You could cut literally every program under Energy and Commerce, every program, except

02:24for Medicare and Medicaid, and only get to $200 billion.

02:28So where does the other $600 plus come from?

02:30It can only come from kicking people off of their health insurance.

02:34Kicking people off of their health insurance so that Elon Musk and the billionaires can get

02:38another tax cut they don't need.

02:40It's unconscionable.

02:41We should vote no.

02:42And I yield back.

'It's Still A 10% Tax': Seth Magaziner Pans Trump's 'So-Called Pause' On Tariffs

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