1 00:00:04,720 --> 00:00:08,000 Speaker 1: On this episode in each world. The One Big Beautiful 2 00:00:08,039 --> 00:00:12,920 Speaker 1: Bill Act reduces taxes, reduces or increases spending for various 3 00:00:12,920 --> 00:00:17,720 Speaker 1: federal government programs, increases the statutory debt limit, and addresses 4 00:00:17,800 --> 00:00:22,040 Speaker 1: agencies and programs throughout the federal government. It is known 5 00:00:22,040 --> 00:00:26,040 Speaker 1: as a reconciliation bill and includes legislations submitted by eleven 6 00:00:26,160 --> 00:00:29,640 Speaker 1: House committees. The Act passed the House on May twenty second, 7 00:00:30,040 --> 00:00:32,920 Speaker 1: with two hundred and fifteen yea's, two hundred and fifteen 8 00:00:32,960 --> 00:00:36,520 Speaker 1: o's and one member voting president, but as narrow margin 9 00:00:36,560 --> 00:00:39,240 Speaker 1: as you can get. The Act is now being considered 10 00:00:39,240 --> 00:00:43,160 Speaker 1: by the Senate, Andrew's receiving some criticism from Elon Musk 11 00:00:43,200 --> 00:00:46,599 Speaker 1: and others. Here to talk about the bill, I am 12 00:00:46,680 --> 00:00:50,680 Speaker 1: really pleased to welcome my guest, Matthew Henderson. He is 13 00:00:50,720 --> 00:01:09,039 Speaker 1: the interim Chief Government Affairs Officer at America First Policy Institute. Matthew, welcome, 14 00:01:09,080 --> 00:01:10,520 Speaker 1: and thank you for joining. 15 00:01:10,160 --> 00:01:12,920 Speaker 2: Me on Newsworld. Absolutely, it's a pleasure to be here. 16 00:01:13,480 --> 00:01:15,720 Speaker 1: Would you just start by talking about the work you 17 00:01:15,760 --> 00:01:19,720 Speaker 1: did would Save America Coalition to help kill the Biden 18 00:01:20,200 --> 00:01:23,480 Speaker 1: Build Back Better Bill in twenty twenty one, and how 19 00:01:23,520 --> 00:01:25,720 Speaker 1: that led you into the work you've done over the 20 00:01:25,800 --> 00:01:28,200 Speaker 1: last three years on one big, beautiful bill. 21 00:01:29,240 --> 00:01:32,880 Speaker 3: Absolutely, I'm happy to taking a step back. If we 22 00:01:33,000 --> 00:01:36,800 Speaker 3: remember what was going on in twenty twenty one, America 23 00:01:36,840 --> 00:01:41,280 Speaker 3: First Policy Institute was just getting started and the Biden administration, 24 00:01:41,360 --> 00:01:44,640 Speaker 3: who had just come into office, was looking at passing 25 00:01:44,920 --> 00:01:48,360 Speaker 3: their agenda. And it's almost like they took their entire 26 00:01:48,400 --> 00:01:51,680 Speaker 3: agenda and they put it into legislative build text. They 27 00:01:51,760 --> 00:01:56,480 Speaker 3: passed one reconciliation bill rather quickly. The other bill, it 28 00:01:56,600 --> 00:01:59,840 Speaker 3: was the Build Back Better Agenda. This was a monster 29 00:02:00,360 --> 00:02:03,840 Speaker 3: of a bill. This was introduced early on in the year, 30 00:02:04,520 --> 00:02:08,120 Speaker 3: and as America First Policy Institute was building up as 31 00:02:08,120 --> 00:02:12,080 Speaker 3: a think tank, we were attracting talent from the first 32 00:02:12,120 --> 00:02:15,640 Speaker 3: Trump administration, and a lot of folks were coming together 33 00:02:15,919 --> 00:02:20,040 Speaker 3: and watching this process unfold in front of us. And 34 00:02:20,320 --> 00:02:23,240 Speaker 3: this bill, there's really no other way to explain it 35 00:02:23,280 --> 00:02:26,400 Speaker 3: other than a big government socialism bill. This bill would 36 00:02:26,400 --> 00:02:30,200 Speaker 3: have fundamentally reshaped the society that we lived in, turning 37 00:02:30,240 --> 00:02:34,400 Speaker 3: it into a socialist society. And there was tremendous momentum 38 00:02:34,480 --> 00:02:39,560 Speaker 3: against this bill. And as the process moved along, I 39 00:02:39,680 --> 00:02:44,240 Speaker 3: came on board with AFPI in about October and I 40 00:02:44,320 --> 00:02:48,799 Speaker 3: was hired to run a conservative coalition of a number 41 00:02:48,840 --> 00:02:52,880 Speaker 3: of organizations. At the time, we had about sixty organizations, conservative, 42 00:02:53,400 --> 00:02:57,680 Speaker 3: bisically conscious organizations and groups that decided to come together 43 00:02:58,480 --> 00:03:01,040 Speaker 3: and really make an effort to take a stand against 44 00:03:01,080 --> 00:03:04,760 Speaker 3: this bill. There were about six organizations initially that came together, 45 00:03:05,480 --> 00:03:08,200 Speaker 3: and as time went on, I was tasked with the 46 00:03:08,240 --> 00:03:11,640 Speaker 3: responsibility of putting together a campaign identifying some of the 47 00:03:11,639 --> 00:03:13,400 Speaker 3: worst provisions that were in this bill. 48 00:03:14,160 --> 00:03:15,359 Speaker 2: And it's no. 49 00:03:15,360 --> 00:03:17,440 Speaker 3: Wonder it was such a bad bill. It couldn't get 50 00:03:17,480 --> 00:03:20,920 Speaker 3: traction in Congress. It wasn't moving, and that granted us 51 00:03:20,960 --> 00:03:23,320 Speaker 3: an opportunity and a window to highlight some of these 52 00:03:23,360 --> 00:03:26,840 Speaker 3: horrible provisions that were in this bill. And ultimately it 53 00:03:26,840 --> 00:03:29,600 Speaker 3: came down to the end of December and a lot 54 00:03:29,600 --> 00:03:31,400 Speaker 3: of the work that we had done in highlighting some 55 00:03:31,440 --> 00:03:35,000 Speaker 3: of these issues, issues that you've written about before, mister Speaker, 56 00:03:35,040 --> 00:03:37,720 Speaker 3: and I think you can remember that time very clearly 57 00:03:37,800 --> 00:03:40,040 Speaker 3: of what was going on, because it was outrageous some 58 00:03:40,080 --> 00:03:43,160 Speaker 3: of the things that were being proposed. Eventually made it 59 00:03:43,200 --> 00:03:47,040 Speaker 3: to December and we're able to successfully kill that portion 60 00:03:47,160 --> 00:03:49,040 Speaker 3: of the bill. It came down to what was going 61 00:03:49,080 --> 00:03:52,320 Speaker 3: on with Senator Mansion in West Virginia. We were able 62 00:03:52,400 --> 00:03:57,440 Speaker 3: to simply talk about how this bill would have decimated 63 00:03:57,720 --> 00:04:00,680 Speaker 3: energy jobs. This bill would have raised gas prices. This 64 00:04:00,760 --> 00:04:04,520 Speaker 3: bill would have outsourced jobs to China and the Communist 65 00:04:04,560 --> 00:04:08,160 Speaker 3: Party of China. This bill would have essentially condoned the 66 00:04:08,280 --> 00:04:10,240 Speaker 3: use of slave labor of what was going on with 67 00:04:10,240 --> 00:04:13,280 Speaker 3: the weaker population that was in China. And we just 68 00:04:13,360 --> 00:04:15,760 Speaker 3: brought those issues to the voters. They spoke up and 69 00:04:15,800 --> 00:04:18,360 Speaker 3: they told Center Mansion, absolutely, don't vote for this bill. 70 00:04:19,080 --> 00:04:21,680 Speaker 3: And he held a press conference saying that he was 71 00:04:21,720 --> 00:04:23,640 Speaker 3: not going to support the bill, and that was the 72 00:04:23,680 --> 00:04:26,480 Speaker 3: epitaph of the Build Back Better Bill. So we successfully 73 00:04:26,520 --> 00:04:29,360 Speaker 3: were able to stop that bill. Unfortunately, it reared its 74 00:04:29,360 --> 00:04:31,560 Speaker 3: head again. But the reality is we were able to 75 00:04:31,600 --> 00:04:36,000 Speaker 3: save about four point five trillion dollars in taxpayers savings, 76 00:04:36,200 --> 00:04:37,720 Speaker 3: and that's something pretty remarkable. 77 00:04:38,400 --> 00:04:43,200 Speaker 1: It seems to me that the brilliance of creating with 78 00:04:43,320 --> 00:04:46,960 Speaker 1: Brooke Rollins and Linda McMahon taking the lead and thinking 79 00:04:47,000 --> 00:04:50,600 Speaker 1: through and creating the America First Policy Institute and bringing 80 00:04:50,640 --> 00:04:53,840 Speaker 1: together an extraordinary level of talent who had already had 81 00:04:53,880 --> 00:04:57,440 Speaker 1: experience in the first Trump administration. Describe for folks the 82 00:04:57,520 --> 00:05:01,280 Speaker 1: impact of America First Policy Institute and how you saw 83 00:05:01,279 --> 00:05:04,080 Speaker 1: it operating and the things that was doing well. 84 00:05:04,080 --> 00:05:07,240 Speaker 3: Coming into the organization, I had spent time on campaigns, 85 00:05:07,279 --> 00:05:09,080 Speaker 3: I had spent time working in the House as a 86 00:05:09,080 --> 00:05:12,320 Speaker 3: staffer and then the Senate as a staffer, and people 87 00:05:12,360 --> 00:05:15,640 Speaker 3: were expecting the president to have a second term, and 88 00:05:16,000 --> 00:05:18,120 Speaker 3: a lot of the minds that came together that came 89 00:05:18,160 --> 00:05:20,840 Speaker 3: out of that first administration, there was a lot of 90 00:05:20,839 --> 00:05:24,080 Speaker 3: work that went into a second agenda and how that 91 00:05:24,960 --> 00:05:27,320 Speaker 3: agenda was going to look in the president's second term 92 00:05:28,120 --> 00:05:31,840 Speaker 3: and when we weren't afforded to have a second term. 93 00:05:31,880 --> 00:05:34,640 Speaker 3: A lot of work went into that agenda. And Brooke Rollins, 94 00:05:34,680 --> 00:05:37,440 Speaker 3: who was our CEO and president at the time, and 95 00:05:37,520 --> 00:05:40,719 Speaker 3: Linda McMahon, who's now Secretary of Education, so of course 96 00:05:40,839 --> 00:05:44,839 Speaker 3: Brooke Rollins' Secretary of Agriculture, and mister Cudlow came together 97 00:05:44,920 --> 00:05:48,400 Speaker 3: as well. Really recognized that there was an opportunity to 98 00:05:48,480 --> 00:05:50,560 Speaker 3: take that agenda and some of the issues that they 99 00:05:50,600 --> 00:05:53,560 Speaker 3: were working on, and to still further the momentum of 100 00:05:53,600 --> 00:05:56,479 Speaker 3: the movement, to keep that momentum going because there was 101 00:05:56,520 --> 00:06:02,159 Speaker 3: a desire to retain staff, to keep people engaged, to 102 00:06:02,240 --> 00:06:04,960 Speaker 3: keep the movement engaged. You know, the president started something 103 00:06:05,440 --> 00:06:07,520 Speaker 3: and nobody knew that he was going to run again 104 00:06:07,920 --> 00:06:10,960 Speaker 3: at that time. But we knew that the ideas were powerful. 105 00:06:11,040 --> 00:06:14,520 Speaker 3: We knew that the ideas needed to continue. We recognized 106 00:06:14,560 --> 00:06:17,880 Speaker 3: that the ideas needed research and they needed to be 107 00:06:17,920 --> 00:06:21,480 Speaker 3: built out. So as you look back and kind of 108 00:06:21,800 --> 00:06:24,800 Speaker 3: see how America First first started, it was in a 109 00:06:24,880 --> 00:06:27,960 Speaker 3: small room in northern Virginia where Broo Browns was head 110 00:06:28,000 --> 00:06:31,800 Speaker 3: of the Domestic Policy Council in the White House. Several 111 00:06:31,839 --> 00:06:34,040 Speaker 3: others who were in the West Wing went from the 112 00:06:34,040 --> 00:06:37,040 Speaker 3: West Wing to a small office in Virginia just to 113 00:06:37,080 --> 00:06:39,680 Speaker 3: continue this cause and movement. And it's kind of astonishing 114 00:06:39,760 --> 00:06:41,960 Speaker 3: that a handful of staffers, I want to say, maybe 115 00:06:41,960 --> 00:06:44,400 Speaker 3: about ten or fifteen individuals who were in that room 116 00:06:45,040 --> 00:06:49,440 Speaker 3: grew into an organization of over two hundred strong just 117 00:06:49,600 --> 00:06:52,799 Speaker 3: over a few short years. And one of the things 118 00:06:52,880 --> 00:06:57,240 Speaker 3: that we first published was the America First Agenda. This 119 00:06:57,400 --> 00:06:59,520 Speaker 3: was a collection of about one hundred and ninety six 120 00:06:59,560 --> 00:07:05,680 Speaker 3: policies that were recommendations that we took to members' offices, 121 00:07:05,760 --> 00:07:08,800 Speaker 3: that we took to the Senate, and we kept those 122 00:07:08,839 --> 00:07:13,120 Speaker 3: ideas alive. We kept those ideas moving forward, and a 123 00:07:13,160 --> 00:07:15,880 Speaker 3: lot of that paved the way to the policies that 124 00:07:15,880 --> 00:07:18,800 Speaker 3: we're seeing now. The policies that we're seen in this 125 00:07:18,960 --> 00:07:22,360 Speaker 3: One Big Beautiful Bill really originated from that agenda that 126 00:07:22,400 --> 00:07:24,520 Speaker 3: the President first came up with in his first term. 127 00:07:24,880 --> 00:07:30,000 Speaker 1: I really believe that without the hard work of the 128 00:07:30,040 --> 00:07:34,120 Speaker 1: American First Policy Institute, that it would have been impossible 129 00:07:34,680 --> 00:07:37,239 Speaker 1: to have had the last five months moving as rapidly 130 00:07:37,280 --> 00:07:41,440 Speaker 1: as they did. That you really have a clear coming together, 131 00:07:41,520 --> 00:07:47,280 Speaker 1: if you will, of the ideas, the people, and also 132 00:07:47,360 --> 00:07:49,640 Speaker 1: the practicality. It wasn't just a think tank in the 133 00:07:49,680 --> 00:07:52,720 Speaker 1: abstract sense. These are people who had been in government, 134 00:07:52,760 --> 00:07:56,040 Speaker 1: understood government, and wanted to force real change, not just 135 00:07:56,120 --> 00:07:59,960 Speaker 1: write interesting papers. Now you sort of reverse your role. 136 00:08:00,120 --> 00:08:03,880 Speaker 1: You played a significant role in defeating the Biden Bill, 137 00:08:04,400 --> 00:08:06,680 Speaker 1: and now you're playing a significant role in trying to 138 00:08:06,720 --> 00:08:09,680 Speaker 1: pass the One Big Beautiful Bill. How does it feel 139 00:08:09,680 --> 00:08:14,720 Speaker 1: to have flipped from opposition yelling no to governing majority 140 00:08:14,720 --> 00:08:16,160 Speaker 1: trying to find a way to say yes. 141 00:08:17,680 --> 00:08:20,160 Speaker 3: It's a little bit of a learning curve. I remember 142 00:08:20,360 --> 00:08:23,520 Speaker 3: when we first kind of started on this process and 143 00:08:23,840 --> 00:08:27,400 Speaker 3: when the sequencing of issues was going on, and you 144 00:08:27,440 --> 00:08:30,400 Speaker 3: look at what can be included in what can't. It's 145 00:08:30,440 --> 00:08:33,000 Speaker 3: not every day that you get the opportunity under unity 146 00:08:33,000 --> 00:08:36,320 Speaker 3: of governance to have an opportunity like this to pass 147 00:08:36,360 --> 00:08:40,160 Speaker 3: one big, beautiful bill. So the mindset was for so 148 00:08:40,320 --> 00:08:43,400 Speaker 3: long we had these policies that we had to highlight 149 00:08:43,440 --> 00:08:46,520 Speaker 3: how bad they were for the last four years to 150 00:08:46,880 --> 00:08:50,520 Speaker 3: suddenly a shift and voters spoke very loud and clear 151 00:08:50,600 --> 00:08:53,600 Speaker 3: last year in November, overwhelmingly rejecting a lot of those 152 00:08:53,720 --> 00:08:56,160 Speaker 3: radical policy ideas. And now we're put in a position 153 00:08:56,200 --> 00:09:00,760 Speaker 3: of governance, and so instead of highlighting the worst of 154 00:09:00,800 --> 00:09:03,400 Speaker 3: the issues, you want to highlight really the best of 155 00:09:03,440 --> 00:09:06,560 Speaker 3: the issues. And we know that this is a hard task, 156 00:09:06,600 --> 00:09:09,560 Speaker 3: it's a long road, and that members who are working 157 00:09:09,640 --> 00:09:12,440 Speaker 3: on these issues in the House and the Senate need 158 00:09:12,480 --> 00:09:15,520 Speaker 3: to be supported for their work. So it's a shift 159 00:09:15,840 --> 00:09:19,480 Speaker 3: from really attacking to supporting. And I remember the first 160 00:09:19,520 --> 00:09:21,559 Speaker 3: time I was in a leadership office and we were 161 00:09:21,600 --> 00:09:24,920 Speaker 3: talking through some of these issues, and it's important to 162 00:09:24,920 --> 00:09:28,160 Speaker 3: remember that this is a conservative approach and that we're 163 00:09:28,160 --> 00:09:30,640 Speaker 3: not looking to attack, we're looking to support and highlight 164 00:09:30,679 --> 00:09:32,800 Speaker 3: and educate. So it's a little bit more on the 165 00:09:32,920 --> 00:09:35,640 Speaker 3: education side instead of the highlighting some of the other. 166 00:09:35,480 --> 00:09:38,360 Speaker 1: Things going way up to say a fifty thousand foot level, 167 00:09:38,720 --> 00:09:42,880 Speaker 1: how would you describe to an average, everyday American the 168 00:09:42,960 --> 00:09:46,400 Speaker 1: difference in the future between this bill passing and this 169 00:09:46,760 --> 00:09:47,920 Speaker 1: bill failing to pass. 170 00:09:49,000 --> 00:09:52,160 Speaker 3: This bill is our one shot. To put it in perspective, 171 00:09:53,360 --> 00:09:56,480 Speaker 3: This bill is part of a larger plan. This bill 172 00:09:56,600 --> 00:10:01,400 Speaker 3: is part of the president's strategy to accelerate economic growth. 173 00:10:02,040 --> 00:10:04,600 Speaker 3: This is one pillar to that plan, and it needs 174 00:10:04,640 --> 00:10:07,880 Speaker 3: to happen. Our spending is too high. Our spending needs 175 00:10:07,920 --> 00:10:10,240 Speaker 3: to come down. We also need to cut taxes to 176 00:10:10,320 --> 00:10:14,080 Speaker 3: accelerate growth. This bill does all of that. This bill 177 00:10:14,160 --> 00:10:18,760 Speaker 3: includes more in it that will actually create American jobs, 178 00:10:18,880 --> 00:10:20,479 Speaker 3: fat and middle class wallets. 179 00:10:20,559 --> 00:10:23,200 Speaker 2: That's one fundamental. 180 00:10:22,600 --> 00:10:25,080 Speaker 3: Way to think about this bill, and that's the approach 181 00:10:25,120 --> 00:10:27,760 Speaker 3: we need, and we need the policies to achieve that 182 00:10:28,240 --> 00:10:31,520 Speaker 3: in cutting taxes. Expanding the base is a key fundamental 183 00:10:31,559 --> 00:10:33,560 Speaker 3: way of achieving that growth. 184 00:10:52,040 --> 00:10:54,800 Speaker 1: The tax side of this is pretty complicated. Can you 185 00:10:54,840 --> 00:10:58,160 Speaker 1: sort of walk us through the key elements, starting, of course, 186 00:10:58,200 --> 00:11:01,960 Speaker 1: with the fact that if we don't extend the twenty 187 00:11:02,040 --> 00:11:05,640 Speaker 1: seventeen tax cuts, we will have a massive tax increase 188 00:11:06,160 --> 00:11:09,160 Speaker 1: and virtually every American is opposed to increasing taxes. 189 00:11:10,360 --> 00:11:11,440 Speaker 2: Absolutely. 190 00:11:11,559 --> 00:11:13,200 Speaker 3: A good way to think about it, and of course 191 00:11:13,240 --> 00:11:15,800 Speaker 3: it changes based on where you live, how large your 192 00:11:15,840 --> 00:11:18,240 Speaker 3: family size is. But a good way to think about 193 00:11:18,240 --> 00:11:21,800 Speaker 3: it is if this wasn't extended. Of course, we're talking 194 00:11:21,800 --> 00:11:25,360 Speaker 3: about the President's tax cuts, the Trump tax cuts, the 195 00:11:25,400 --> 00:11:27,520 Speaker 3: Tax Cuts and Jobs Act that was put in place 196 00:11:27,559 --> 00:11:31,719 Speaker 3: and enacted in twenty seventeen. If it was not extended, 197 00:11:32,000 --> 00:11:34,800 Speaker 3: if this is something that doesn't pass, that means families 198 00:11:34,800 --> 00:11:37,880 Speaker 3: will lose between of a range about seven hundred to 199 00:11:38,760 --> 00:11:41,800 Speaker 3: about seventy two hundred dollars per year. Now that's based 200 00:11:41,800 --> 00:11:45,880 Speaker 3: on family size and of course where they actually live, 201 00:11:46,120 --> 00:11:49,680 Speaker 3: but that is a sizable amount of money. And for 202 00:11:49,800 --> 00:11:53,040 Speaker 3: families living, for example, in Arizona, they could see a 203 00:11:53,080 --> 00:11:55,760 Speaker 3: loss of close to four thousand dollars in take home pay. 204 00:11:56,160 --> 00:11:59,600 Speaker 3: According to our own analysis at AFPI. This is something 205 00:12:00,160 --> 00:12:02,240 Speaker 3: that we don't need in this economy right now. And 206 00:12:02,280 --> 00:12:05,040 Speaker 3: when I speak to the economic growth side of it, 207 00:12:05,840 --> 00:12:08,240 Speaker 3: we have an economy that's growing. I don't know if 208 00:12:08,280 --> 00:12:11,560 Speaker 3: you saw the latest numbers coming out of the Atlanta FED, 209 00:12:11,800 --> 00:12:14,440 Speaker 3: but the number was three point eight. Now what that 210 00:12:14,600 --> 00:12:18,600 Speaker 3: means is already our economy is growing twice as fast. 211 00:12:18,960 --> 00:12:21,400 Speaker 3: The Q two numbers came out, and our economy is 212 00:12:21,440 --> 00:12:23,920 Speaker 3: growing twice as fast. Based on everything that the President's 213 00:12:23,960 --> 00:12:28,679 Speaker 3: doing on his trade agenda, and based on the anticipation 214 00:12:29,480 --> 00:12:32,640 Speaker 3: of this bill as it moves through Congress. Already we're 215 00:12:32,640 --> 00:12:34,760 Speaker 3: seeing a lot of the positive effects of some of 216 00:12:34,760 --> 00:12:36,760 Speaker 3: the policies that are going through right now. 217 00:12:37,120 --> 00:12:41,120 Speaker 1: I've been talking about the combination of what he's doing 218 00:12:41,160 --> 00:12:44,679 Speaker 1: with tariffs to make it more desirable to manufacturing the 219 00:12:44,720 --> 00:12:49,880 Speaker 1: United States, what he's doing with this bill, and what 220 00:12:50,000 --> 00:12:52,679 Speaker 1: he's done just as a good marketer. I mean, in 221 00:12:52,720 --> 00:12:57,080 Speaker 1: his one trip to Saudi Arabia, guitar and the UAE 222 00:12:57,760 --> 00:13:00,920 Speaker 1: he picked up in four days a billion dollars in 223 00:13:01,040 --> 00:13:04,400 Speaker 1: orders for American products and a trillion dollar commitment to 224 00:13:04,440 --> 00:13:07,880 Speaker 1: invest in the United States economy. Now, the momentum of 225 00:13:07,920 --> 00:13:12,120 Speaker 1: those kind of deals has to mean I think by 226 00:13:12,120 --> 00:13:15,200 Speaker 1: next summer we could be in a Trump boom. But 227 00:13:15,920 --> 00:13:17,880 Speaker 1: the key to that is to pass this bill. And 228 00:13:18,080 --> 00:13:21,400 Speaker 1: it's an extraordinarily complicated bill. Can you walk through just 229 00:13:21,520 --> 00:13:24,680 Speaker 1: some of the provisions that people need to be aware 230 00:13:24,720 --> 00:13:27,240 Speaker 1: of that give you a sense of the scale of 231 00:13:27,240 --> 00:13:28,320 Speaker 1: effort going into this. 232 00:13:28,720 --> 00:13:31,400 Speaker 3: Yes, absolutely, and I think really the best way to 233 00:13:31,440 --> 00:13:34,160 Speaker 3: describe it is Americans are going to support this bill, 234 00:13:34,200 --> 00:13:35,880 Speaker 3: and we're already seeing them. More and more they learn 235 00:13:35,880 --> 00:13:38,240 Speaker 3: about that, the more supportive they are because it spends 236 00:13:38,320 --> 00:13:41,880 Speaker 3: less government money, it prevents one of the largest taxis 237 00:13:42,040 --> 00:13:44,280 Speaker 3: in history, which is the tax savings that I was 238 00:13:44,280 --> 00:13:46,079 Speaker 3: talking about a little bit earlier. And of course, it 239 00:13:46,240 --> 00:13:49,800 Speaker 3: supercharges economic growth and that means more investment coming into 240 00:13:49,800 --> 00:13:54,840 Speaker 3: this country, which creates jobs, which grows jobs, and creates 241 00:13:55,200 --> 00:13:58,120 Speaker 3: fatter paychecks, which is something that everybody likes to see. 242 00:13:58,160 --> 00:14:01,240 Speaker 3: I think some of the important components to the one. 243 00:14:01,840 --> 00:14:05,480 Speaker 3: It stops maligned foreign actors from undercutting our American workers. 244 00:14:05,520 --> 00:14:08,200 Speaker 3: And what I mean by saying that is that it 245 00:14:08,240 --> 00:14:12,920 Speaker 3: secures the border. We've heard about border security for years. 246 00:14:13,400 --> 00:14:16,560 Speaker 3: Voters are beginning to recognize that when the president says 247 00:14:16,559 --> 00:14:18,400 Speaker 3: he's going to secure the border, he actually means it, 248 00:14:18,440 --> 00:14:21,520 Speaker 3: and he has the policies that can show action on that. 249 00:14:22,120 --> 00:14:24,720 Speaker 3: This bill provides extra funding so that he can finish 250 00:14:24,800 --> 00:14:29,120 Speaker 3: building the wall higher than necessary to personnel to put 251 00:14:29,160 --> 00:14:31,360 Speaker 3: in place to make sure that border is secure, and 252 00:14:31,440 --> 00:14:34,400 Speaker 3: also invest in technology in order to keep that border secure. 253 00:14:34,960 --> 00:14:38,800 Speaker 3: This helps him continue to fulfill the largest deportation effort, 254 00:14:38,800 --> 00:14:40,720 Speaker 3: which is something that the President has talked about. We 255 00:14:40,840 --> 00:14:44,160 Speaker 3: keep seeing these stories about some of the hatred and 256 00:14:44,240 --> 00:14:46,800 Speaker 3: some of the unrest that's going on on college campuses, 257 00:14:46,880 --> 00:14:49,240 Speaker 3: which is something that's just outrageous to think about it 258 00:14:49,280 --> 00:14:52,440 Speaker 3: in this beautiful country of ours. That's happening. That has 259 00:14:52,520 --> 00:14:55,440 Speaker 3: to do with some of these visas that haven't been 260 00:14:55,520 --> 00:14:57,920 Speaker 3: updated in such a long time, and it's maligned foreign 261 00:14:57,960 --> 00:15:00,040 Speaker 3: actors who are in a lot of these places and 262 00:15:00,040 --> 00:15:04,240 Speaker 3: they're not actually Americans. Another one is this bill actually 263 00:15:04,360 --> 00:15:06,440 Speaker 3: keeps more money in the pockets of every American. I've 264 00:15:06,440 --> 00:15:09,200 Speaker 3: talked about the tax component, but when we see things 265 00:15:09,240 --> 00:15:12,880 Speaker 3: like no tax on tips or no overtime pay, an 266 00:15:12,960 --> 00:15:17,320 Speaker 3: enhanced deduction for seniors, no tax on car loan interest, 267 00:15:17,680 --> 00:15:21,040 Speaker 3: and of course the ever famous no death tax, these 268 00:15:21,040 --> 00:15:25,359 Speaker 3: are things that are all focused on growing the economy 269 00:15:25,480 --> 00:15:29,160 Speaker 3: and keeping more money in americans paychecks. We also see 270 00:15:29,160 --> 00:15:32,000 Speaker 3: some other provisions in here that are meant to empower 271 00:15:32,080 --> 00:15:35,560 Speaker 3: parents and really protect women and children. I don't think 272 00:15:35,600 --> 00:15:38,680 Speaker 3: the long term play is that there will be men 273 00:15:38,800 --> 00:15:41,840 Speaker 3: playing in girls' sports, but we want to make sure 274 00:15:41,920 --> 00:15:45,640 Speaker 3: that we're able to restore American values, which is a 275 00:15:45,720 --> 00:15:47,720 Speaker 3: key pillar for change and something that we need to 276 00:15:47,720 --> 00:15:49,920 Speaker 3: get back to and something that voters spoke loud and 277 00:15:49,920 --> 00:15:55,080 Speaker 3: clearly to support. It stops taxpayer funds for child sex mutilation, 278 00:15:55,360 --> 00:15:57,720 Speaker 3: which is something that's astonishing that has gone on for 279 00:15:57,760 --> 00:16:00,680 Speaker 3: such a long period of time, but youre speaker, for 280 00:16:00,720 --> 00:16:04,480 Speaker 3: the longest time, Medicaid dollars have actually been going to 281 00:16:04,600 --> 00:16:07,440 Speaker 3: fund some of these surgeries. This bill puts a stop 282 00:16:07,480 --> 00:16:10,120 Speaker 3: to that. We see some other things in here that 283 00:16:10,160 --> 00:16:13,080 Speaker 3: are very good for education as well, in terms of 284 00:16:13,120 --> 00:16:16,680 Speaker 3: putting parents' rights over their children's education again, we have 285 00:16:17,200 --> 00:16:22,120 Speaker 3: expanded educational options for school choice. What that means is 286 00:16:22,120 --> 00:16:25,520 Speaker 3: there's going to be more support for things like homeschooling. 287 00:16:25,720 --> 00:16:28,240 Speaker 3: That means there's going to be more support for things 288 00:16:28,680 --> 00:16:31,680 Speaker 3: that are alternatives to public education but doesn't erode from 289 00:16:31,720 --> 00:16:35,400 Speaker 3: public education. We also see certain things that just need 290 00:16:35,440 --> 00:16:40,280 Speaker 3: to be restored, like DEI or radical gender ideology that 291 00:16:40,320 --> 00:16:43,640 Speaker 3: has really penetrated a lot of schools. So certain funding 292 00:16:43,680 --> 00:16:47,680 Speaker 3: elements are really reformed and put back to where they 293 00:16:47,720 --> 00:16:50,720 Speaker 3: should be. And we also see some very unique things 294 00:16:50,960 --> 00:16:53,600 Speaker 3: like the pro life enhanced Adoption tax credit. What that 295 00:16:53,680 --> 00:16:58,160 Speaker 3: means is that for families who want to adopt, that 296 00:16:58,200 --> 00:17:00,560 Speaker 3: means you can get five thousand dollars off five thousand 297 00:17:00,560 --> 00:17:03,440 Speaker 3: dollars refund in terms of the costs and fees that 298 00:17:03,480 --> 00:17:07,000 Speaker 3: you're actually moving forward with an adoption. And as we know, 299 00:17:07,160 --> 00:17:10,480 Speaker 3: adoptions can be incredibly expensive. So this is a step 300 00:17:10,480 --> 00:17:12,679 Speaker 3: in the right direction towards our values. And I can 301 00:17:12,760 --> 00:17:14,560 Speaker 3: keep going on and on and on. There's actually a 302 00:17:14,560 --> 00:17:16,600 Speaker 3: list I know that we've seen come out of all 303 00:17:16,640 --> 00:17:18,920 Speaker 3: the latest and greatest things, but that's just a little 304 00:17:18,920 --> 00:17:20,320 Speaker 3: bit of some of the great things that are in 305 00:17:20,359 --> 00:17:20,800 Speaker 3: this bill. 306 00:17:21,040 --> 00:17:22,440 Speaker 1: The one thing I do want to focus on just 307 00:17:22,480 --> 00:17:25,119 Speaker 1: from it as I understand it, on the tax zone, 308 00:17:25,480 --> 00:17:30,280 Speaker 1: it's actually very favorable to small business and significantly help 309 00:17:30,359 --> 00:17:31,160 Speaker 1: small businesses. 310 00:17:32,200 --> 00:17:34,840 Speaker 3: Does there's a number of pro business things that are 311 00:17:34,840 --> 00:17:38,719 Speaker 3: in this bill, full expensing that is able to help manufacturing. 312 00:17:38,840 --> 00:17:43,399 Speaker 3: This bill is pro manufacturing, it's pro startup business. It 313 00:17:43,520 --> 00:17:46,760 Speaker 3: is some very unique things that the American First Policy 314 00:17:47,000 --> 00:17:50,160 Speaker 3: Institute has spent a lot of time on. Are these 315 00:17:50,200 --> 00:17:54,040 Speaker 3: opportunity zones. We've heard about these opportunity zones perhaps before, 316 00:17:54,119 --> 00:17:58,480 Speaker 3: but what these are are certain tax zones and structures 317 00:17:59,000 --> 00:18:01,800 Speaker 3: that we're up for renewal next year. These were renewed 318 00:18:02,080 --> 00:18:05,440 Speaker 3: and continue to be put in place. It's their pro 319 00:18:05,480 --> 00:18:10,200 Speaker 3: growth element, so they allow for reinvestment in economically challenged 320 00:18:10,240 --> 00:18:14,080 Speaker 3: areas urban areas, so it allows for reinvestment in our community, 321 00:18:14,560 --> 00:18:17,960 Speaker 3: and it's a good alternative for businesses to invest in 322 00:18:18,000 --> 00:18:21,800 Speaker 3: and also reinvest in our cities. There's also other pro 323 00:18:21,840 --> 00:18:24,880 Speaker 3: growth tax reforms, and that key word there is pro growth. 324 00:18:25,200 --> 00:18:27,240 Speaker 3: We just want to be really focused on growing the 325 00:18:27,280 --> 00:18:30,400 Speaker 3: economy in a positive way. There's a lot of pro 326 00:18:30,400 --> 00:18:34,280 Speaker 3: growth reforms to boost up economic growth, like small business 327 00:18:34,400 --> 00:18:37,520 Speaker 3: exemptions for manufacturing, which I've already mentioned, and just a 328 00:18:37,600 --> 00:18:40,080 Speaker 3: number of provisions that actually helped that regard and push 329 00:18:40,320 --> 00:18:41,920 Speaker 3: the economic pro growth side forward. 330 00:18:42,320 --> 00:18:44,080 Speaker 1: By the way, in terms of being pro growth, it 331 00:18:44,080 --> 00:18:46,840 Speaker 1: seems to me that one of the great problems in 332 00:18:46,960 --> 00:18:50,679 Speaker 1: passing this bill is that the Congressional Budget Office is 333 00:18:50,840 --> 00:18:54,840 Speaker 1: just ridiculously left wing and refus us to score economic growth. 334 00:18:55,440 --> 00:18:58,359 Speaker 1: That if you actually take what will probably happen based 335 00:18:58,359 --> 00:19:01,160 Speaker 1: on the Reagan years we did when I was speaker, 336 00:19:01,560 --> 00:19:04,680 Speaker 1: this bill should get us up to at least three 337 00:19:04,800 --> 00:19:07,120 Speaker 1: or three and a half percent growth, And I think 338 00:19:07,200 --> 00:19:09,760 Speaker 1: they're scoring it at like one point two. So what 339 00:19:09,800 --> 00:19:12,960 Speaker 1: that does for our listeners is it means all of 340 00:19:12,960 --> 00:19:15,480 Speaker 1: the extra revenue that would come in because the economy 341 00:19:15,520 --> 00:19:18,280 Speaker 1: gets bigger, more people go to work, more people get 342 00:19:18,320 --> 00:19:21,800 Speaker 1: pay raises, more companies make a profit, All of those 343 00:19:21,840 --> 00:19:25,320 Speaker 1: things help pay for the bill. And consistently, the Congressional 344 00:19:25,359 --> 00:19:30,560 Speaker 1: Budget Office has refused to score the scale of change 345 00:19:30,560 --> 00:19:33,640 Speaker 1: that occurs when you get the right kind of positive 346 00:19:33,720 --> 00:19:36,159 Speaker 1: pro growth policies. And it seems to me that that's 347 00:19:36,600 --> 00:19:38,600 Speaker 1: one of the things Congress should fix is that the 348 00:19:39,000 --> 00:19:42,200 Speaker 1: Congressional Budget Office is very left wing and is five 349 00:19:42,320 --> 00:19:46,760 Speaker 1: hundred and twenty five bureaucrats who specialize in underrating how 350 00:19:46,800 --> 00:19:50,440 Speaker 1: good our reforms are and really underrating how effective our 351 00:19:50,440 --> 00:19:52,480 Speaker 1: tax cuts are. What's your thought on that? 352 00:19:53,119 --> 00:19:55,000 Speaker 3: I think you're absolutely right, and that's why i wanted 353 00:19:55,040 --> 00:19:57,040 Speaker 3: to lead with that surprising news. I'm not going to 354 00:19:57,040 --> 00:20:00,000 Speaker 3: say it's surprising because it's a realistic approach. The Atlantica 355 00:20:00,160 --> 00:20:02,920 Speaker 3: Federal Reserve came out with their number for the accelerated 356 00:20:02,960 --> 00:20:06,360 Speaker 3: growth based on Q two this year alone at three 357 00:20:06,440 --> 00:20:09,720 Speaker 3: point eight percent, So that means our economy is already 358 00:20:09,720 --> 00:20:13,400 Speaker 3: growing twice as fast and in terms of the CBO 359 00:20:13,560 --> 00:20:14,520 Speaker 3: three times as fast. 360 00:20:15,160 --> 00:20:18,119 Speaker 1: I'm going to go on X and Truth Social and 361 00:20:18,240 --> 00:20:21,879 Speaker 1: ask the question, what was the Congressional Budget Office score 362 00:20:22,400 --> 00:20:23,359 Speaker 1: for the second quarter. 363 00:20:23,560 --> 00:20:26,320 Speaker 3: I think it was right around one point two percent 364 00:20:26,480 --> 00:20:27,560 Speaker 3: or something ridiculous. 365 00:20:27,760 --> 00:20:30,720 Speaker 1: So if you just adjust how wrong they were for 366 00:20:30,760 --> 00:20:33,960 Speaker 1: the entire bill, you literally pay for the bill by 367 00:20:34,080 --> 00:20:37,440 Speaker 1: the scale of economic growth, which they refuse to admit exists. 368 00:20:37,520 --> 00:20:39,639 Speaker 1: It's a fascinating story. Let me ask you, though, I 369 00:20:39,640 --> 00:20:41,080 Speaker 1: mean the one glyphs that's come up in the last 370 00:20:41,080 --> 00:20:43,840 Speaker 1: few days. We can't talk about the bill without confronting 371 00:20:43,880 --> 00:20:46,840 Speaker 1: the set on. We get this writing on X by 372 00:20:47,160 --> 00:20:51,679 Speaker 1: Eon Musk, who says, quote, I'm sorry, but I just 373 00:20:51,720 --> 00:20:56,879 Speaker 1: can't stand it anymore. This massive, outrageous, pork filled congressional 374 00:20:56,920 --> 00:21:01,120 Speaker 1: spending bill is a disgusting abomination. Shame on those who 375 00:21:01,200 --> 00:21:03,560 Speaker 1: voted for it. You know you did wrong. You know it. 376 00:21:03,720 --> 00:21:05,919 Speaker 1: Now I have to tell him. My first reaction was 377 00:21:05,960 --> 00:21:08,080 Speaker 1: he was off his meds, and I don't quite know 378 00:21:08,119 --> 00:21:10,640 Speaker 1: what he's doing. But if you were debating him, how 379 00:21:10,640 --> 00:21:12,240 Speaker 1: would you answer all those charges? 380 00:21:13,200 --> 00:21:14,560 Speaker 2: Well, it's a little confusing. 381 00:21:15,240 --> 00:21:19,119 Speaker 3: I guess I'm perplexed because this bill actually reverses the 382 00:21:19,200 --> 00:21:22,040 Speaker 3: spending cursed plague. There's been a spending curse on DC. 383 00:21:22,160 --> 00:21:25,320 Speaker 3: And you know this more than anybody else in this country. 384 00:21:25,400 --> 00:21:28,000 Speaker 3: But DC has been on a trajectory of more and 385 00:21:28,040 --> 00:21:32,200 Speaker 3: more and more and more spending. It's continuous. This bill 386 00:21:32,280 --> 00:21:36,320 Speaker 3: actually delivers the largest deficit reduction in nearly thirty years, 387 00:21:36,359 --> 00:21:40,200 Speaker 3: with one point six trillion in mandatory savings. To put 388 00:21:40,200 --> 00:21:44,439 Speaker 3: that in layman's terms, it's the largest single reduction in 389 00:21:44,560 --> 00:21:48,280 Speaker 3: spending in Congress's history in terms of the level of 390 00:21:48,320 --> 00:21:52,000 Speaker 3: mandatory spending that this bill actually cuts. So that is astonishing. 391 00:21:52,240 --> 00:21:54,399 Speaker 3: And I don't think that no tax on tips, or 392 00:21:54,440 --> 00:21:59,119 Speaker 3: no tax on overtime, or things like saving costs for 393 00:21:59,240 --> 00:22:02,000 Speaker 3: seniors are elements that would be considered pork. You know, 394 00:22:02,119 --> 00:22:06,680 Speaker 3: pork is bringing something back for enriching that wealthiest one 395 00:22:06,760 --> 00:22:09,960 Speaker 3: percent of people in this country. And that is something 396 00:22:10,000 --> 00:22:12,639 Speaker 3: that the bill Back Better Bill did. That bill was 397 00:22:12,760 --> 00:22:16,280 Speaker 3: riddled with special interest savings. I don't understand how this 398 00:22:16,400 --> 00:22:21,040 Speaker 3: bill something like finishing the President's border wall keeping Americans safe, 399 00:22:21,119 --> 00:22:24,160 Speaker 3: I don't understand how that's pork. I don't understand how 400 00:22:24,280 --> 00:22:27,840 Speaker 3: this bill protects medicaid for Americans who truly need it. 401 00:22:28,320 --> 00:22:30,960 Speaker 3: I don't think that that would be something that would 402 00:22:30,960 --> 00:22:36,199 Speaker 3: be considered pork. On top of saving taxpayers in some cases, 403 00:22:36,240 --> 00:22:38,640 Speaker 3: I've mentioned some of those numbers before, but in some 404 00:22:38,680 --> 00:22:42,960 Speaker 3: cases it's close to fourteen thousand dollars in take home pay. 405 00:22:43,240 --> 00:22:45,560 Speaker 3: So it keeps going on and on and on and 406 00:22:45,600 --> 00:22:50,160 Speaker 3: Plus the bill includes some recommendations that even Elon Musk 407 00:22:50,200 --> 00:22:52,600 Speaker 3: put in himself in terms of the Doze cuts. Now 408 00:22:52,600 --> 00:22:55,679 Speaker 3: that has to do with a separate companion package to this, 409 00:22:55,880 --> 00:22:59,400 Speaker 3: but that nine point four billion dollars in savings that 410 00:22:59,520 --> 00:23:03,119 Speaker 3: Doze initially identified, that's something that's going to be a 411 00:23:03,119 --> 00:23:05,399 Speaker 3: companion of this bill. So he's essentially trashing in his 412 00:23:05,440 --> 00:23:07,240 Speaker 3: own work. I guess I'm a little perplexed at what's 413 00:23:07,280 --> 00:23:07,600 Speaker 3: going on. 414 00:23:24,240 --> 00:23:30,239 Speaker 1: I'm curious. You have, I think, very significant bill. It 415 00:23:30,280 --> 00:23:33,000 Speaker 1: has lots of pieces in it. Everybody can find some 416 00:23:33,240 --> 00:23:36,160 Speaker 1: reason to be a no, but if you're going to govern, 417 00:23:36,280 --> 00:23:38,040 Speaker 1: you also have to find a reason to be a yes. 418 00:23:38,640 --> 00:23:41,480 Speaker 1: I'm a little surprised that some of the members who 419 00:23:41,720 --> 00:23:44,639 Speaker 1: go bouncing back and forth, but it strikes me that 420 00:23:45,680 --> 00:23:50,320 Speaker 1: it's really central to having the economy grow and to 421 00:23:50,400 --> 00:23:54,639 Speaker 1: begin to bend the spending curve that this bill passed. 422 00:23:54,760 --> 00:23:56,760 Speaker 1: I say this from a background. When I was Speaker, 423 00:23:57,400 --> 00:23:59,600 Speaker 1: we balanced the federal budget for four years in a 424 00:23:59,680 --> 00:24:01,920 Speaker 1: row for the only time in the last one hundred years. 425 00:24:02,200 --> 00:24:04,840 Speaker 1: So we have some sense of how to do this, 426 00:24:05,359 --> 00:24:08,199 Speaker 1: and I think that this actually helps us move in 427 00:24:08,240 --> 00:24:11,520 Speaker 1: the right direction. I think people need to confront this. 428 00:24:11,520 --> 00:24:14,280 Speaker 1: This is one piece of a series of things that 429 00:24:14,359 --> 00:24:16,160 Speaker 1: need to happen over the next three or four years. 430 00:24:16,600 --> 00:24:19,400 Speaker 1: And I think that if you do those things, you're 431 00:24:19,440 --> 00:24:23,280 Speaker 1: in fact going to dramatically reduce the deficit and ultimately 432 00:24:23,280 --> 00:24:26,440 Speaker 1: get to a balanced budget, which we proved in the nineties. 433 00:24:26,440 --> 00:24:28,720 Speaker 1: You could actually do it. It's not a theory. Well, 434 00:24:28,720 --> 00:24:31,600 Speaker 1: what's your thinking about the notion that this is step 435 00:24:31,680 --> 00:24:34,760 Speaker 1: one of a series of steps that have to be taken. 436 00:24:35,760 --> 00:24:39,200 Speaker 3: That's exactly right. This is step one to a larger plan. 437 00:24:39,280 --> 00:24:39,520 Speaker 2: You know. 438 00:24:39,720 --> 00:24:43,880 Speaker 3: Step one is fat and middle class while it's passing, 439 00:24:43,920 --> 00:24:46,639 Speaker 3: this bill delivers the tax cuts that we need to 440 00:24:46,720 --> 00:24:51,879 Speaker 3: stimulate the economy. Step two is aggressive deregulation. That's something 441 00:24:51,880 --> 00:24:54,680 Speaker 3: that the president's been doing since day one, breaking down 442 00:24:54,680 --> 00:24:57,720 Speaker 3: the barriers making it easier to invest in this country 443 00:24:58,160 --> 00:25:02,560 Speaker 3: across every sector. These regulatory burdens of I need to 444 00:25:02,600 --> 00:25:05,560 Speaker 3: file this form, I need to do it by this date, 445 00:25:05,800 --> 00:25:08,119 Speaker 3: and I need to comply with the myriad of different 446 00:25:08,119 --> 00:25:11,760 Speaker 3: agencies that are around Washington, d C. Or within state 447 00:25:11,840 --> 00:25:14,520 Speaker 3: government that needs to be deregulated. It needs to be 448 00:25:14,560 --> 00:25:17,080 Speaker 3: easier to invest, it needs to be easier to get 449 00:25:17,080 --> 00:25:21,520 Speaker 3: things done. That deregulation is continuing to occur. Then, another 450 00:25:21,560 --> 00:25:26,360 Speaker 3: important component of this plan is re establish American energy dominance. 451 00:25:26,520 --> 00:25:30,720 Speaker 3: That's another component to this plan to accelerate economic growth. 452 00:25:31,200 --> 00:25:33,680 Speaker 3: And a great speech I like to point folks back 453 00:25:33,720 --> 00:25:37,080 Speaker 3: to as a speech that or a conversation between Larry 454 00:25:37,119 --> 00:25:40,760 Speaker 3: Cudlow and Secretary Besant at the Economic Club of New 455 00:25:40,840 --> 00:25:42,800 Speaker 3: York where they were talking about what does it take 456 00:25:42,840 --> 00:25:45,160 Speaker 3: to accelerate the economy, and they were laying this plan 457 00:25:45,240 --> 00:25:49,840 Speaker 3: out and it really crystallizes exactly what the potential of 458 00:25:49,880 --> 00:25:51,880 Speaker 3: our country. And when we talk about some of those 459 00:25:51,920 --> 00:25:55,760 Speaker 3: economic growth rates, what that means is that three percent 460 00:25:55,840 --> 00:25:59,439 Speaker 3: forecasted or that three point eight percent forecasted economic growth. 461 00:25:59,520 --> 00:26:03,159 Speaker 3: We're talking about trillions of dollars here, or you know, 462 00:26:03,240 --> 00:26:06,520 Speaker 3: billions of dollars here, or some of these small arguments 463 00:26:06,520 --> 00:26:09,199 Speaker 3: that are being had but what that actually means is 464 00:26:09,320 --> 00:26:13,639 Speaker 3: that's ten trillion dollars of economic growth that comes into 465 00:26:13,720 --> 00:26:17,520 Speaker 3: our country that would be created if this plan has followed, 466 00:26:18,160 --> 00:26:21,120 Speaker 3: and that really brings the affordable abundance that the President 467 00:26:21,160 --> 00:26:24,520 Speaker 3: talks about that we had AFPI have talked about of 468 00:26:24,600 --> 00:26:27,760 Speaker 3: a plan to bring incredible growth to this country to 469 00:26:27,840 --> 00:26:31,320 Speaker 3: realize our full potential, and we have every opportunity to 470 00:26:31,359 --> 00:26:34,720 Speaker 3: do it, and this is one step in that larger process. 471 00:26:35,080 --> 00:26:39,920 Speaker 1: I've participated twice in first helping with the Reagan three 472 00:26:39,960 --> 00:26:43,080 Speaker 1: year tax cut and the deregulation of the Reagan era, 473 00:26:43,440 --> 00:26:45,400 Speaker 1: and then the work that we did with the Contract 474 00:26:45,400 --> 00:26:48,480 Speaker 1: with America and our tax cuts and the impact of 475 00:26:48,520 --> 00:26:51,679 Speaker 1: economic growth and the impact of things like reforming the 476 00:26:51,680 --> 00:26:54,240 Speaker 1: welfare system. So I know this can be done. I 477 00:26:54,240 --> 00:26:56,040 Speaker 1: want to ask about one last thing which I've begun 478 00:26:56,119 --> 00:26:58,679 Speaker 1: to work on, and that is I was at the 479 00:26:59,080 --> 00:27:02,760 Speaker 1: announcement in the White House of the Make America Healthy 480 00:27:02,760 --> 00:27:08,240 Speaker 1: Again Report on Children's Health. It is terrifying how badly 481 00:27:08,280 --> 00:27:10,640 Speaker 1: the health of American children have decayed in the last 482 00:27:10,680 --> 00:27:13,679 Speaker 1: twenty years. It was startling to me. If you're a 483 00:27:13,680 --> 00:27:18,560 Speaker 1: fiscal conservative, you really want to help accelerate getting to 484 00:27:19,160 --> 00:27:22,560 Speaker 1: a healthy America, both because it's so much better for 485 00:27:22,640 --> 00:27:25,320 Speaker 1: children to grow up healthy. If we could get back 486 00:27:25,320 --> 00:27:27,680 Speaker 1: to say, the kind of health we had for young 487 00:27:27,720 --> 00:27:31,119 Speaker 1: people in nineteen sixty or nineteen seventy, the amount we 488 00:27:31,200 --> 00:27:35,359 Speaker 1: would save by moving from what is now a sick 489 00:27:35,400 --> 00:27:37,400 Speaker 1: care system, well you only take care of you once 490 00:27:37,400 --> 00:27:41,040 Speaker 1: you're sick, to a genuine health care system where we 491 00:27:41,160 --> 00:27:44,800 Speaker 1: actually try to minimize the likelihood of you ever getting sick. 492 00:27:45,320 --> 00:27:47,960 Speaker 1: So we're not saving money by cutting spending or by 493 00:27:48,280 --> 00:27:53,520 Speaker 1: bureaucratic controls. We're actually saving money by having people be healthier. 494 00:27:54,040 --> 00:27:57,040 Speaker 1: And my guess is, when you realize that healthcare in 495 00:27:57,040 --> 00:28:00,399 Speaker 1: America is about eighteen percent of the economy, yes, is 496 00:28:00,440 --> 00:28:03,119 Speaker 1: we would save at least four percent of the gross 497 00:28:03,119 --> 00:28:08,320 Speaker 1: domestic product by getting to make America healthy again goals. 498 00:28:08,840 --> 00:28:12,600 Speaker 1: That is more than enough savings to balance the budget 499 00:28:12,600 --> 00:28:14,720 Speaker 1: and start to pay down the national debt. And I'm 500 00:28:14,760 --> 00:28:17,000 Speaker 1: just curious what your reaction is to the idea that 501 00:28:17,040 --> 00:28:21,360 Speaker 1: we need to approach very profound shifts from sick care 502 00:28:21,400 --> 00:28:25,040 Speaker 1: to healthcare takes seriously making America healthy again, and that 503 00:28:25,160 --> 00:28:28,439 Speaker 1: it has both a human component that's enormously important, but 504 00:28:28,480 --> 00:28:30,880 Speaker 1: it also has a really powerful fiscal component. 505 00:28:31,600 --> 00:28:35,639 Speaker 3: What you said and what's been this Maha movement, I 506 00:28:35,640 --> 00:28:39,920 Speaker 3: think is critical to not just every individual in their 507 00:28:39,960 --> 00:28:42,520 Speaker 3: personal health, in the health of our families, but also 508 00:28:42,560 --> 00:28:45,760 Speaker 3: the future of our country. It was President Kennedy who 509 00:28:45,800 --> 00:28:49,600 Speaker 3: put in place a concept of gym class and establishing 510 00:28:49,640 --> 00:28:52,880 Speaker 3: that concept, so it really comes full circle that Secretary 511 00:28:52,960 --> 00:28:56,720 Speaker 3: Kennedy is also putting something else in place. And when 512 00:28:56,720 --> 00:28:59,320 Speaker 3: you look at that eighteen percent of GDP of what 513 00:28:59,320 --> 00:29:02,320 Speaker 3: we spend on health healthcare, it seems like there's an 514 00:29:02,360 --> 00:29:05,400 Speaker 3: issue in this country of we take those whatever is 515 00:29:05,440 --> 00:29:08,920 Speaker 3: that largest percentage, and we just throw money at it. Well, 516 00:29:08,960 --> 00:29:10,600 Speaker 3: we don't understand it, so we're going to throw more 517 00:29:10,640 --> 00:29:13,240 Speaker 3: money at it. We need to stop that trend, and 518 00:29:13,720 --> 00:29:16,920 Speaker 3: we need to start taking responsibility for ourselves. And it 519 00:29:17,000 --> 00:29:19,560 Speaker 3: starts with a choice of choosing to live healthier and 520 00:29:19,640 --> 00:29:22,280 Speaker 3: making those choices available, and that's what the start of 521 00:29:22,280 --> 00:29:24,880 Speaker 3: the Maha movement actually is doing and putting those things 522 00:29:25,000 --> 00:29:25,440 Speaker 3: in motion. 523 00:29:26,000 --> 00:29:27,800 Speaker 1: It seems to me that when we think about the 524 00:29:27,840 --> 00:29:31,120 Speaker 1: next phase after this bill, that having the right kind 525 00:29:31,120 --> 00:29:34,680 Speaker 1: of steps towards making America healthy again maybe the biggest 526 00:29:34,720 --> 00:29:38,120 Speaker 1: single step we can take towards balancing the federal budget. 527 00:29:38,560 --> 00:29:41,560 Speaker 3: That's absolutely correct. I couldn't set it better myself or 528 00:29:41,600 --> 00:29:42,800 Speaker 3: anyone else for that matter. 529 00:29:43,360 --> 00:29:45,720 Speaker 1: Well, in that cheerful note, Matthew, I want to thank 530 00:29:45,760 --> 00:29:48,360 Speaker 1: you for joining me. Our listeners can learn more about 531 00:29:48,360 --> 00:29:52,000 Speaker 1: the work you're doing at America First Policy Institute by 532 00:29:52,080 --> 00:29:55,760 Speaker 1: visiting your website at America Firstpolicy dot com, which we'll 533 00:29:55,800 --> 00:29:58,320 Speaker 1: also have on our show page. And I really really 534 00:29:58,360 --> 00:30:00,720 Speaker 1: appreciate you taking the time to talk with us. 535 00:30:01,040 --> 00:30:02,720 Speaker 2: Absolutely humbled, Thank. 536 00:30:02,560 --> 00:30:07,840 Speaker 1: You, Thank you to my guest Matthew Henderson. You can 537 00:30:07,920 --> 00:30:10,320 Speaker 1: learn more about the One Big Beautiful Bill Act on 538 00:30:10,360 --> 00:30:13,680 Speaker 1: our show page at newtsworld dot com. News World is 539 00:30:13,720 --> 00:30:17,480 Speaker 1: produced by ginglis Stree sixty and iHeartMedia. Our executive producer 540 00:30:17,520 --> 00:30:21,520 Speaker 1: is Guarnsey Sloan. Our researcher is Rachel Peterson. The artwork 541 00:30:21,560 --> 00:30:25,440 Speaker 1: for the show was created by Steve Penley. Special thanks 542 00:30:25,440 --> 00:30:28,520 Speaker 1: to the team at Gingershtree sixty. If you've been enjoying Newtsworld, 543 00:30:28,760 --> 00:30:31,280 Speaker 1: I hope you'll go to Apple Podcast and both rate 544 00:30:31,360 --> 00:30:34,040 Speaker 1: us with five stars and give us a review so 545 00:30:34,080 --> 00:30:37,360 Speaker 1: others can learn what it's all about. Right now, listeners 546 00:30:37,360 --> 00:30:40,200 Speaker 1: of Newtsworld can sign up for my three free weekly 547 00:30:40,320 --> 00:30:45,040 Speaker 1: columns at ginglerstree sixty dot com slash newsletter. I'm Newt Gingrich. 548 00:30:45,360 --> 00:30:46,280 Speaker 1: This is Nutsworld.