1 00:00:00,080 --> 00:00:02,480 Speaker 1: Joe and I are in Washington, but we actually have 2 00:00:02,560 --> 00:00:05,080 Speaker 1: our eyes on Las Vegas at this hour, where the 3 00:00:05,080 --> 00:00:08,680 Speaker 1: Bitcoin twenty twenty five conference is taking place. Remember last 4 00:00:08,720 --> 00:00:12,280 Speaker 1: year when it was in Nashville, then candidate Donald Trump 5 00:00:12,400 --> 00:00:15,960 Speaker 1: spoke before the conference, and today his now sitting Vice President, 6 00:00:16,040 --> 00:00:19,720 Speaker 1: Jade Vance, was the keynote speaker, talking a big game 7 00:00:19,840 --> 00:00:22,400 Speaker 1: about how this administration wants to be friendlier for the 8 00:00:22,440 --> 00:00:25,160 Speaker 1: crypto industry overall. Make it, of course, as they've said often, 9 00:00:25,520 --> 00:00:28,400 Speaker 1: the bitcoin capital of the world. Jadvance today Joe saying, 10 00:00:28,400 --> 00:00:30,479 Speaker 1: we want our fellow Americans to know that crypto and 11 00:00:30,520 --> 00:00:34,320 Speaker 1: digital assets, and particularly bitcoin are part of the mainstream 12 00:00:34,320 --> 00:00:36,120 Speaker 1: economy and are here to stay. 13 00:00:36,240 --> 00:00:40,320 Speaker 2: So helping us connect the dots between Las Vegas and Washington. 14 00:00:40,400 --> 00:00:43,080 Speaker 2: Here an actual policy from what goes on inside the 15 00:00:43,120 --> 00:00:46,720 Speaker 2: Venetian Resort to underneath the Capital Dome is Byron Donald's 16 00:00:46,720 --> 00:00:49,559 Speaker 2: the congressman, Republican from Florida's nineteenth is with us right 17 00:00:49,600 --> 00:00:52,520 Speaker 2: now on balance of power. Congressmen, welcome back. I hope 18 00:00:52,520 --> 00:00:54,320 Speaker 2: things are going well in Las Vegas. 19 00:00:54,400 --> 00:00:54,960 Speaker 3: Kaylee's right. 20 00:00:55,000 --> 00:00:57,600 Speaker 2: It was Donald Trump's term last year when he promised 21 00:00:57,600 --> 00:01:02,240 Speaker 2: America would become a bitcoin super power under his leadership. 22 00:01:02,440 --> 00:01:05,319 Speaker 2: What changes need to happen right now to make that happen. 23 00:01:06,800 --> 00:01:09,319 Speaker 4: Well, first, it's good to be with you. The first 24 00:01:09,319 --> 00:01:11,480 Speaker 4: couple of changes are going to be a legislation. 25 00:01:11,600 --> 00:01:12,600 Speaker 3: We're going to be moving through. 26 00:01:12,480 --> 00:01:16,880 Speaker 4: The Financial Services Committee this summer one. Dealing obviously with 27 00:01:16,920 --> 00:01:19,520 Speaker 4: stable coin legislation. We've been at that for a couple 28 00:01:19,560 --> 00:01:22,840 Speaker 4: of years now under the leadership of former chairman mckenry, 29 00:01:23,040 --> 00:01:25,480 Speaker 4: who's now left Congress and now chairman of french Hill. 30 00:01:25,840 --> 00:01:29,320 Speaker 4: And then of course our market structure legislation to create 31 00:01:29,319 --> 00:01:33,520 Speaker 4: the regulatory framework for digital assets overall, to actually have 32 00:01:33,920 --> 00:01:36,960 Speaker 4: a rules to the road where you have regulators understanding 33 00:01:36,959 --> 00:01:41,480 Speaker 4: what their purview actually is and unlike what was happening 34 00:01:41,480 --> 00:01:44,319 Speaker 4: with Gary Gensler, just making up your purview as you 35 00:01:44,360 --> 00:01:47,960 Speaker 4: go along, because that's how you see that industry. So 36 00:01:48,000 --> 00:01:50,520 Speaker 4: I think those are those are steps one and two 37 00:01:51,200 --> 00:01:54,800 Speaker 4: for making bigcoin. As the President talks about the making 38 00:01:54,840 --> 00:01:58,240 Speaker 4: bitcoin the United States the bigcoin capital of the world. 39 00:01:58,520 --> 00:02:00,600 Speaker 3: You have to address the regulatory environment. 40 00:02:00,880 --> 00:02:03,240 Speaker 4: You have to create a clear regulatory system when it 41 00:02:03,280 --> 00:02:07,040 Speaker 4: comes to stable coins in particular, that will feed the 42 00:02:07,080 --> 00:02:11,280 Speaker 4: engine for people to bring more investments into the United States, 43 00:02:11,680 --> 00:02:13,520 Speaker 4: and then that's how the United States will become a 44 00:02:13,520 --> 00:02:15,320 Speaker 4: true leader when it comes to digital assets. 45 00:02:16,760 --> 00:02:19,040 Speaker 1: But as all of that legislative effort, Congressman, and it's 46 00:02:19,040 --> 00:02:21,880 Speaker 1: great to have you on the program. Again complicated by 47 00:02:21,919 --> 00:02:25,359 Speaker 1: the conflict of interest questions around President Trump knowing he 48 00:02:25,400 --> 00:02:27,839 Speaker 1: has a meme coin and attended a dinner last week 49 00:02:27,880 --> 00:02:31,519 Speaker 1: with investors in said meme coin that DJT, the media 50 00:02:31,520 --> 00:02:35,720 Speaker 1: company that literally bears his name, is raising money so 51 00:02:35,760 --> 00:02:38,840 Speaker 1: that it can buy a bitcoin. Does that add a 52 00:02:38,880 --> 00:02:43,280 Speaker 1: complicating factor to any kind of bipartisan effort in advancing 53 00:02:43,360 --> 00:02:45,840 Speaker 1: legislation like that when that's giving Democrats a lot of 54 00:02:45,880 --> 00:02:48,760 Speaker 1: noise to make, no, I don't think so. 55 00:02:48,800 --> 00:02:51,640 Speaker 4: There's a lot of Democrats on Capitol Hill who do 56 00:02:51,800 --> 00:02:55,400 Speaker 4: realize that digital assets are here to stay. Bitcoin is 57 00:02:55,400 --> 00:02:57,919 Speaker 4: here to stay. It's not going anywhere, and so it's 58 00:02:57,919 --> 00:03:01,160 Speaker 4: time for the United States to actually take the necessary 59 00:03:01,160 --> 00:03:05,440 Speaker 4: steps forward to fully embrace digital assets. And so I 60 00:03:05,480 --> 00:03:06,920 Speaker 4: think what's going to happen is we're going to move 61 00:03:06,919 --> 00:03:08,720 Speaker 4: that policy out of the House. There are going to 62 00:03:08,800 --> 00:03:10,519 Speaker 4: be Democrats in my view, who are going to support 63 00:03:10,560 --> 00:03:12,519 Speaker 4: both packages in the House, and you're going to have 64 00:03:12,600 --> 00:03:14,800 Speaker 4: Democrats in the Senate support it. I think what what 65 00:03:14,919 --> 00:03:17,600 Speaker 4: you saw, and I think Democrats saw this by and 66 00:03:17,680 --> 00:03:20,600 Speaker 4: large with how they acted towards the digital assets industry 67 00:03:21,120 --> 00:03:23,800 Speaker 4: under the Biden administration, and you know, if you're here 68 00:03:23,919 --> 00:03:26,760 Speaker 4: on the conference, it was soundly rejected. I think people 69 00:03:26,800 --> 00:03:29,239 Speaker 4: here understand that you have to have clear rules for 70 00:03:29,960 --> 00:03:32,600 Speaker 4: to the road. You can't have regulators just picking and 71 00:03:32,680 --> 00:03:35,560 Speaker 4: choosing how they're going to look at digital assets. 72 00:03:35,560 --> 00:03:36,440 Speaker 3: You simply can't. 73 00:03:36,680 --> 00:03:38,720 Speaker 4: So I think that to your question, I don't think 74 00:03:38,720 --> 00:03:42,119 Speaker 4: that's going to matter at all. We're talking about an 75 00:03:42,120 --> 00:03:44,920 Speaker 4: industry that it really has the potential to be a 76 00:03:44,920 --> 00:03:47,840 Speaker 4: trillion dollar industry here in the United States, and not 77 00:03:47,960 --> 00:03:50,840 Speaker 4: just to talk about the guys who are doing big things, 78 00:03:50,880 --> 00:03:54,080 Speaker 4: whether it's coinbase or any other company that's out there, 79 00:03:54,520 --> 00:03:56,840 Speaker 4: talk about the little guy people who are getting in 80 00:03:56,880 --> 00:03:59,520 Speaker 4: at the bottom of this industry, who are finding an 81 00:03:59,520 --> 00:04:03,120 Speaker 4: opportunity to really build a company, really build wealth that 82 00:04:03,200 --> 00:04:06,760 Speaker 4: crosses party lines, acrosses demographic lines. And so we need 83 00:04:06,800 --> 00:04:09,640 Speaker 4: to lead on this and not be afraid of talking 84 00:04:09,680 --> 00:04:11,400 Speaker 4: points or other things that are going on. 85 00:04:12,720 --> 00:04:15,280 Speaker 1: But as we consider building wealth, what if all of 86 00:04:15,320 --> 00:04:18,159 Speaker 1: this effort directly leads to further building the wealth of 87 00:04:18,160 --> 00:04:20,360 Speaker 1: the president of the United States. Do you not see 88 00:04:20,360 --> 00:04:21,520 Speaker 1: an issue their congressman. 89 00:04:22,360 --> 00:04:24,520 Speaker 4: Look, I would tell you that a rising tide lifts 90 00:04:24,560 --> 00:04:28,160 Speaker 4: all boats. You know, if Eric and don are doing 91 00:04:28,200 --> 00:04:31,240 Speaker 4: things in their personal capacities, that's fine, and that's all 92 00:04:31,279 --> 00:04:31,680 Speaker 4: well and good. 93 00:04:31,720 --> 00:04:32,280 Speaker 3: That's America. 94 00:04:32,320 --> 00:04:34,640 Speaker 4: I don't think people should be told that you can't 95 00:04:34,640 --> 00:04:38,560 Speaker 4: do business in our country. Actually, to be blunt with you, 96 00:04:38,880 --> 00:04:40,680 Speaker 4: it's better that these things are actually out in the 97 00:04:40,680 --> 00:04:43,200 Speaker 4: open for people to know and to see, as opposed 98 00:04:43,240 --> 00:04:45,880 Speaker 4: to what was happening under the previous administration, where they 99 00:04:45,920 --> 00:04:48,840 Speaker 4: were hiding how the family was making money. They were 100 00:04:48,880 --> 00:04:51,480 Speaker 4: hiding it from everybody. They were lying to the American people. 101 00:04:51,960 --> 00:04:55,240 Speaker 4: The president, President Biden, or the auto pen whichever one 102 00:04:55,240 --> 00:04:57,720 Speaker 4: you choose, had to do preemptive pardons. 103 00:04:58,080 --> 00:05:00,479 Speaker 3: That stuff is ridiculous. That's how ages. 104 00:05:00,760 --> 00:05:04,120 Speaker 4: What we're talking about is regulating an industry in a 105 00:05:04,240 --> 00:05:07,720 Speaker 4: proper way so the industry can thrive, it can grow, 106 00:05:07,960 --> 00:05:11,200 Speaker 4: people can invest, capital can be raised, and people, whether 107 00:05:11,240 --> 00:05:12,400 Speaker 4: you're at the top or the. 108 00:05:12,320 --> 00:05:14,719 Speaker 3: Bottom, can get in. One of the things that I'm. 109 00:05:14,680 --> 00:05:17,559 Speaker 4: So excited about digital assets is that when we finally 110 00:05:17,560 --> 00:05:20,640 Speaker 4: get the regulatory environment settled, you can do things like 111 00:05:20,720 --> 00:05:24,799 Speaker 4: fractional You can do fractional exchanges where people can buy 112 00:05:25,200 --> 00:05:28,520 Speaker 4: a fractional piece of real world assets or a fractional 113 00:05:28,560 --> 00:05:31,720 Speaker 4: piece of companies going forward. So if somebody doesn't have, 114 00:05:32,080 --> 00:05:35,159 Speaker 4: you know, fifty thousand dollars to their name to invest, 115 00:05:35,400 --> 00:05:38,080 Speaker 4: and they might have a couple hundred dollars, they might 116 00:05:38,080 --> 00:05:42,960 Speaker 4: have five thousand dollars under a fractionalized, fractionalized, tokenized. 117 00:05:42,520 --> 00:05:44,800 Speaker 3: Exchange, you can invest in that. 118 00:05:44,800 --> 00:05:48,360 Speaker 4: That helps people grow their asset base, It helps them 119 00:05:48,400 --> 00:05:50,760 Speaker 4: grow themselves financially in our country. 120 00:05:50,760 --> 00:05:52,359 Speaker 3: That's a good thing. We should celebrate that. 121 00:05:53,720 --> 00:05:55,520 Speaker 2: Congressman, I want to ask you about the effort on 122 00:05:55,560 --> 00:05:57,720 Speaker 2: Capitol Hill that you're in the midst of right now 123 00:05:57,720 --> 00:06:02,080 Speaker 2: when it comes to reconciliation Trump tax cuts, the spending cuts, 124 00:06:02,480 --> 00:06:04,680 Speaker 2: and all the rest that comes with it. Here, Kaylee 125 00:06:04,720 --> 00:06:06,560 Speaker 2: mentioned a moment ago that the President was just asked 126 00:06:06,560 --> 00:06:10,120 Speaker 2: in the Oval office about comments from Elon Musk about 127 00:06:10,160 --> 00:06:12,320 Speaker 2: the way this bill took shape in the House and 128 00:06:12,440 --> 00:06:13,960 Speaker 2: is now of course on its way to the Senate. 129 00:06:14,040 --> 00:06:16,080 Speaker 2: Let's listen to what he said and we'll have you react. 130 00:06:17,200 --> 00:06:22,120 Speaker 4: I was like disappointed to see the massive spending bill, frankly, 131 00:06:23,839 --> 00:06:26,760 Speaker 4: which increases the bunch depths if not doesn't decrease it. 132 00:06:27,360 --> 00:06:29,360 Speaker 3: And that reminds the work that the NOES team is doing. 133 00:06:29,920 --> 00:06:32,360 Speaker 3: I actually thought that when this big, beautiful bill came along. 134 00:06:32,400 --> 00:06:35,520 Speaker 1: I mean, like everything he's done on dose gets wiped 135 00:06:35,560 --> 00:06:36,440 Speaker 1: out in the first year. 136 00:06:37,560 --> 00:06:40,279 Speaker 3: I think a bill can be can be big or 137 00:06:40,320 --> 00:06:41,160 Speaker 3: it can be beautiful. 138 00:06:44,200 --> 00:06:46,479 Speaker 2: It can be big or it can be beautiful. Congressman 139 00:06:46,520 --> 00:06:48,279 Speaker 2: that was with CBS, is Elon Musk wrong. 140 00:06:49,880 --> 00:06:52,560 Speaker 3: Well, a couple of things. One in the package. 141 00:06:52,640 --> 00:06:56,440 Speaker 4: Obviously, we maintained all of the President's tax policy and 142 00:06:56,480 --> 00:06:58,400 Speaker 4: made a lot of it permanent, which is said the 143 00:06:58,480 --> 00:07:02,360 Speaker 4: betterment of every small busin owner, every American. We secure 144 00:07:02,400 --> 00:07:05,480 Speaker 4: the border, we actually build border wall, We modernize our 145 00:07:05,520 --> 00:07:07,120 Speaker 4: defense department. We do a lot of things that have 146 00:07:07,160 --> 00:07:10,000 Speaker 4: been neglected, especially over the last four years, that need 147 00:07:10,080 --> 00:07:11,760 Speaker 4: to get done, and we were able to accomplish that. 148 00:07:12,520 --> 00:07:14,760 Speaker 3: When it comes to spending cuts, yeah, Elon's right on this. 149 00:07:14,880 --> 00:07:17,480 Speaker 4: We have to do a much better job and making 150 00:07:17,520 --> 00:07:20,640 Speaker 4: sure that these DESA bills are at a minimum deficit neutral. 151 00:07:20,840 --> 00:07:23,240 Speaker 4: But what they need to do is decrease deficits and 152 00:07:23,320 --> 00:07:25,720 Speaker 4: so That was a major sticking point for a lot 153 00:07:25,720 --> 00:07:28,440 Speaker 4: of conservatives in the House. They want to see real 154 00:07:28,600 --> 00:07:31,080 Speaker 4: spending cuts in these packages. I know that there's a 155 00:07:31,120 --> 00:07:35,760 Speaker 4: recisions package that the House has in their possession. We 156 00:07:35,840 --> 00:07:38,000 Speaker 4: need to move that to the floor and do that immediately. 157 00:07:38,240 --> 00:07:41,240 Speaker 4: A lot of the Doge cuts are in that recisions package. 158 00:07:41,240 --> 00:07:43,200 Speaker 4: We should be voting on that at the end of 159 00:07:43,240 --> 00:07:46,040 Speaker 4: the day, before you get to bills or how any 160 00:07:46,040 --> 00:07:48,080 Speaker 4: of that looks like. I look at the bond market 161 00:07:48,400 --> 00:07:50,880 Speaker 4: and one thing is crystal clear. The bond market is 162 00:07:50,920 --> 00:07:53,320 Speaker 4: looking at the United States and they are saying, you 163 00:07:53,400 --> 00:07:55,560 Speaker 4: better get your fiscal house in order, or we're going 164 00:07:55,600 --> 00:07:58,400 Speaker 4: to charge you more to borrow money. No nation can 165 00:07:58,480 --> 00:08:01,400 Speaker 4: thrive under that kind of a sen So we have 166 00:08:01,480 --> 00:08:03,880 Speaker 4: to be serious on Capitol Hill. Last thing I will 167 00:08:03,880 --> 00:08:06,320 Speaker 4: say is the President and his team. They did a 168 00:08:06,400 --> 00:08:09,520 Speaker 4: tremendous job of trying to get this bill through the House. 169 00:08:10,160 --> 00:08:12,920 Speaker 4: Some of the sticking points on why we didn't cut 170 00:08:12,960 --> 00:08:16,400 Speaker 4: more spending was because of Republicans who, to be blunt, 171 00:08:16,400 --> 00:08:19,200 Speaker 4: we're concerned about their re elections and their districts as 172 00:08:19,200 --> 00:08:21,320 Speaker 4: opposed to making sure that we put the fiscal health 173 00:08:21,520 --> 00:08:24,080 Speaker 4: of the nation forward. And have that be the number 174 00:08:24,080 --> 00:08:26,400 Speaker 4: one thing we're concerned about. So I think that as 175 00:08:26,400 --> 00:08:28,080 Speaker 4: this bill goes through the Senate, the Senate's going to 176 00:08:28,080 --> 00:08:30,600 Speaker 4: make changes, it will come back to the House, and 177 00:08:30,640 --> 00:08:33,600 Speaker 4: if for future packages, I'd urge my colleagues we have 178 00:08:33,720 --> 00:08:37,640 Speaker 4: to take our deficits in our debts seriously because if 179 00:08:37,640 --> 00:08:40,000 Speaker 4: we don't get this under control, the bond market is 180 00:08:40,040 --> 00:08:41,959 Speaker 4: going to come for everybody. I don't care if you're 181 00:08:41,960 --> 00:08:44,680 Speaker 4: a Republican or Democrat, it does not matter. The bond 182 00:08:44,720 --> 00:08:47,880 Speaker 4: market charging higher rates for Treasury bonds is going to 183 00:08:47,920 --> 00:08:51,160 Speaker 4: be a major issue that really could hurt the United 184 00:08:51,160 --> 00:08:53,000 Speaker 4: States over the long term, if not sink. 185 00:08:52,840 --> 00:08:56,560 Speaker 1: Us well on the bond market. Congressman White House Trade 186 00:08:56,559 --> 00:08:59,360 Speaker 1: advisor Pete Navarro just penned an op ed about that 187 00:08:59,520 --> 00:09:01,800 Speaker 1: today in The Hill, saying that the bond market is 188 00:09:01,840 --> 00:09:05,720 Speaker 1: wrong about Trump's tax bill. It misses the substantial positive 189 00:09:05,760 --> 00:09:10,880 Speaker 1: revenue impact of tariffs. What's your take on Navarro's argument, Well, I. 190 00:09:10,840 --> 00:09:14,080 Speaker 4: Agree with Peter when it comes to the President's tax 191 00:09:14,120 --> 00:09:17,640 Speaker 4: policy and even some tariff policy. Yes, those are revenue raisers, 192 00:09:17,640 --> 00:09:19,760 Speaker 4: and I would argue that when you get out of 193 00:09:19,840 --> 00:09:24,800 Speaker 4: the frankly, the negotiating around what the economic growth rates 194 00:09:24,840 --> 00:09:27,000 Speaker 4: are going to be on Capitol Hill. That was a negotiation. 195 00:09:27,080 --> 00:09:29,200 Speaker 4: It's not about what's going to happen. I think things 196 00:09:29,200 --> 00:09:32,400 Speaker 4: in the President's tax package, obviously Section one ninety nine 197 00:09:32,440 --> 00:09:36,040 Speaker 4: A being continued and now permanent one hundred percent expensing 198 00:09:36,080 --> 00:09:39,320 Speaker 4: over four years, no tax on tips, no tax on overtime. 199 00:09:39,480 --> 00:09:41,280 Speaker 4: I think all those things are going to be stimulative 200 00:09:41,320 --> 00:09:43,520 Speaker 4: to the economy. But I think what the bond market 201 00:09:43,559 --> 00:09:46,200 Speaker 4: is really talking about is our deficits and our debts 202 00:09:46,520 --> 00:09:49,560 Speaker 4: and the velocity of borrowings into the future. 203 00:09:49,960 --> 00:09:51,960 Speaker 3: That's what we have to get under control. 204 00:09:52,240 --> 00:09:54,640 Speaker 4: I would argue that if the bill was deficit neutral 205 00:09:54,640 --> 00:09:57,119 Speaker 4: coming out of the House, Moodies would not have downgraded. 206 00:09:57,640 --> 00:09:59,240 Speaker 3: I'll tell you that right now. Don't think they would have. 207 00:09:59,679 --> 00:10:01,560 Speaker 4: So I think that those are the things that the 208 00:10:01,559 --> 00:10:04,080 Speaker 4: bond market is looking at. It's not tax policy. Peter 209 00:10:04,160 --> 00:10:06,520 Speaker 4: is correct when it comes to tax policy. Totally agree 210 00:10:06,559 --> 00:10:09,080 Speaker 4: with him on that. But the bond market is looking 211 00:10:09,120 --> 00:10:13,480 Speaker 4: at the deficit projections, the debt projections of the United States. 212 00:10:13,760 --> 00:10:16,600 Speaker 4: We have to take this stuff seriously. There are real 213 00:10:16,679 --> 00:10:19,480 Speaker 4: reforms that need to happen in Washington, DC, and So 214 00:10:19,520 --> 00:10:21,840 Speaker 4: that's the stuff that when you look at future pieces 215 00:10:21,880 --> 00:10:25,080 Speaker 4: of legislation when it comes to deficits and debts, that's 216 00:10:25,120 --> 00:10:27,640 Speaker 4: the stuff that we have to get to get serious about. 217 00:10:28,559 --> 00:10:30,840 Speaker 2: This is fascinating for us to hear congressmen in our 218 00:10:30,880 --> 00:10:34,160 Speaker 2: remaining moment. Are you quietly hoping the Senate cuts spending 219 00:10:34,200 --> 00:10:35,880 Speaker 2: further when it gets its hands on the bill? 220 00:10:36,960 --> 00:10:40,400 Speaker 3: Oh? Yeah, of course. Listen. I am all for cutting spending. 221 00:10:40,600 --> 00:10:41,800 Speaker 3: And look, let's be clear on this. 222 00:10:42,600 --> 00:10:44,560 Speaker 4: I know that there are a lot of Americans to say, well, 223 00:10:44,559 --> 00:10:47,680 Speaker 4: if you cut spending, is that the thing that I use? 224 00:10:48,040 --> 00:10:50,360 Speaker 4: And I will tell you that the federal government weighs 225 00:10:50,400 --> 00:10:53,400 Speaker 4: so much money, we could actually do more when it 226 00:10:53,440 --> 00:10:56,920 Speaker 4: comes to spending and actually not hit vulnerable populations. I'll 227 00:10:56,920 --> 00:10:58,800 Speaker 4: give you an example. There was a lot of conversation 228 00:10:59,520 --> 00:11:02,679 Speaker 4: around me de in this bill. The Democrats are saying that, oh, 229 00:11:02,760 --> 00:11:03,960 Speaker 4: medicaid is to pay. 230 00:11:03,720 --> 00:11:05,480 Speaker 3: For tax cuts. That is a lie. 231 00:11:05,520 --> 00:11:07,800 Speaker 4: That is simply not true. The reason why it's a 232 00:11:07,840 --> 00:11:10,000 Speaker 4: lie is because when the Democrats were in charge, they 233 00:11:10,040 --> 00:11:12,640 Speaker 4: did not touch Donald Trump's tax policy. They left it 234 00:11:12,679 --> 00:11:15,760 Speaker 4: in place because it's good tax policy. So what the 235 00:11:15,800 --> 00:11:19,920 Speaker 4: real argument is in medicaid should the federal government be 236 00:11:20,040 --> 00:11:23,040 Speaker 4: spending nine dollars for every one dollar that the state 237 00:11:23,480 --> 00:11:27,480 Speaker 4: spends on able bodied adults with no kids, versus the 238 00:11:27,520 --> 00:11:32,440 Speaker 4: same federal government paying a dollar thirty three for poor kids, 239 00:11:33,000 --> 00:11:36,240 Speaker 4: elderly people who are poor, and pregnant women. That is 240 00:11:36,280 --> 00:11:39,920 Speaker 4: a dichotomy set up by Barack Obama and Obamacare, and 241 00:11:39,960 --> 00:11:43,439 Speaker 4: it's terrible policy because what you've done is you've expanded 242 00:11:43,480 --> 00:11:47,800 Speaker 4: the Medicaid population for able bodied adults, and you're actually 243 00:11:47,840 --> 00:11:52,920 Speaker 4: disincentivizing state systems and hospitals from serving the most vulnerable. 244 00:11:53,160 --> 00:11:55,040 Speaker 4: So there are positions on the hill that said, look, 245 00:11:55,240 --> 00:11:58,200 Speaker 4: let's try to rework some of this stuff. Let's do 246 00:11:58,280 --> 00:12:03,199 Speaker 4: more investment into poor people, vulnerable populations, let's actually take it, 247 00:12:03,240 --> 00:12:05,400 Speaker 4: try to take a stab at rural health and some 248 00:12:05,480 --> 00:12:08,240 Speaker 4: other issues that are happening in the country. But we 249 00:12:08,360 --> 00:12:14,960 Speaker 4: have to end this Medicaid expansion fallacy around essentially creating 250 00:12:14,960 --> 00:12:16,400 Speaker 4: expansion populations around Medicaid. 251 00:12:16,440 --> 00:12:17,160 Speaker 3: You have to end that. 252 00:12:17,480 --> 00:12:19,520 Speaker 4: One of the big reasons the Democrats want to keep 253 00:12:19,520 --> 00:12:22,960 Speaker 4: Medicaid expansion is not for health care. It's because they 254 00:12:22,960 --> 00:12:25,400 Speaker 4: want single payer health care. That was the reason they 255 00:12:25,400 --> 00:12:28,199 Speaker 4: wanted the public option back when they did the Affordable 256 00:12:28,200 --> 00:12:29,040 Speaker 4: Care Act back in what. 257 00:12:29,080 --> 00:12:31,079 Speaker 3: Twenty ten, that was the purpose of that. 258 00:12:31,440 --> 00:12:34,600 Speaker 4: So there are conversations like that happening on Capitol Hill 259 00:12:34,920 --> 00:12:38,120 Speaker 4: where you can make changes to a program like Medicaid, 260 00:12:38,360 --> 00:12:40,640 Speaker 4: you can make sure people who are on those programs 261 00:12:40,800 --> 00:12:43,680 Speaker 4: are grandfathered in their benefits don't get cut. 262 00:12:43,800 --> 00:12:44,959 Speaker 3: But going forward, the. 263 00:12:44,880 --> 00:12:47,920 Speaker 4: Federal government says, we're not going to be funding able 264 00:12:47,920 --> 00:12:50,599 Speaker 4: bodied adults going forward into the future. We're going to 265 00:12:50,640 --> 00:12:54,640 Speaker 4: make sure we prioritize vulnerable populations, people who are truly 266 00:12:54,720 --> 00:12:57,160 Speaker 4: in need. That's the kind of spending reform that I 267 00:12:57,160 --> 00:12:59,440 Speaker 4: think the bond market would say, you know what, they're 268 00:12:59,480 --> 00:13:02,160 Speaker 4: being serios. That's also the type of spending reforms and 269 00:13:02,200 --> 00:13:04,600 Speaker 4: I think the American people would get behind because they'll 270 00:13:04,600 --> 00:13:06,880 Speaker 4: be like, that makes sense. We should be making sure 271 00:13:06,880 --> 00:13:09,160 Speaker 4: that people who are truly vulnerable get the help that 272 00:13:09,200 --> 00:13:09,720 Speaker 4: they deserve. 273 00:13:11,360 --> 00:13:14,080 Speaker 1: What about people who are vulnerable to the elements? Congressman, 274 00:13:14,120 --> 00:13:15,560 Speaker 1: and I ask you this knowing you would like to 275 00:13:15,600 --> 00:13:17,760 Speaker 1: be the next governor of Florida, are you worried that 276 00:13:17,840 --> 00:13:21,240 Speaker 1: funding cuts in areas like FEMA and elsewhere as we 277 00:13:21,320 --> 00:13:25,320 Speaker 1: head into Atlantic hurricane season could leave states like Florida 278 00:13:25,480 --> 00:13:28,199 Speaker 1: more vulnerable and responding to disasters. 279 00:13:29,520 --> 00:13:31,360 Speaker 4: Well, look, I think that what you're going to see 280 00:13:31,440 --> 00:13:34,920 Speaker 4: is the reworking of FEMA, which is something I have 281 00:13:35,080 --> 00:13:38,800 Speaker 4: advocated for. I filed a bill with Jared Moscowitz, Democrat 282 00:13:38,840 --> 00:13:42,680 Speaker 4: out of Florida about getting FEMA out of Holan and Security, 283 00:13:43,600 --> 00:13:46,600 Speaker 4: having it being a direct report agency to the White House. 284 00:13:46,880 --> 00:13:48,959 Speaker 4: So I think I commend the White House on what 285 00:13:49,000 --> 00:13:51,880 Speaker 4: they're doing. President Trump is leading on this issue, making 286 00:13:51,880 --> 00:13:54,880 Speaker 4: sure that FEMA is reformed. So I'm not concerned about that. 287 00:13:55,559 --> 00:13:58,520 Speaker 4: Knowing the President, knowing his team, they're going to be 288 00:13:58,640 --> 00:14:02,720 Speaker 4: there to make sure that people are getting every help 289 00:14:02,960 --> 00:14:05,679 Speaker 4: that they need and they deserve from the federal government 290 00:14:05,880 --> 00:14:08,400 Speaker 4: when disaster shrikes. So I have no concerns about that. 291 00:14:08,760 --> 00:14:12,000 Speaker 4: But you do ask the real question about FEMA. FEMA 292 00:14:12,360 --> 00:14:14,959 Speaker 4: is a bureaucratic mess and it has been for quite 293 00:14:14,960 --> 00:14:17,440 Speaker 4: some time. Go ask the people in North Carolina. They 294 00:14:17,440 --> 00:14:20,200 Speaker 4: will tell you. Ask the people in the Panhandle, Big 295 00:14:20,200 --> 00:14:23,880 Speaker 4: Band area, Southwest Florida, my district, they will tell you this. 296 00:14:24,240 --> 00:14:27,120 Speaker 4: So FEMA needs to be reworked. I commend the President 297 00:14:27,200 --> 00:14:30,240 Speaker 4: for what he's doing. Let them go through that process, 298 00:14:30,440 --> 00:14:33,920 Speaker 4: but I will tell you Americans, Floridians, they're going to 299 00:14:33,960 --> 00:14:36,560 Speaker 4: get the help that they need when disaster strikes. From 300 00:14:36,600 --> 00:14:37,240 Speaker 4: Donald Trump. 301 00:14:38,840 --> 00:14:43,400 Speaker 1: All right, Florida gubernatorial candidate and current Republican Congressman representing 302 00:14:43,440 --> 00:14:46,760 Speaker 1: Flora's nineteenth District, Byron Donalds, thank you so much for 303 00:14:46,880 --> 00:14:50,040 Speaker 1: joining us here on Balance of Power live from Las Vegas, 304 00:14:50,080 --> 00:14:52,720 Speaker 1: where Bitcoin twenty twenty five is underway. We'll have more 305 00:14:53,200 --> 00:14:55,800 Speaker 1: on crypto and its ties to this White House and 306 00:14:55,840 --> 00:14:56,880 Speaker 1: this President later on.