1 00:00:04,000 --> 00:00:06,800 Speaker 1: On this episode of Newts World. As Chairman of the 2 00:00:06,800 --> 00:00:10,879 Speaker 1: Houseways and Means Committee, Congress from Jason Smith's top priority 3 00:00:11,360 --> 00:00:15,520 Speaker 1: is delivering for the working families, farmers, and small businesses 4 00:00:15,840 --> 00:00:18,360 Speaker 1: that make the American economy the envy of the world. 5 00:00:18,600 --> 00:00:21,960 Speaker 1: That's why, under his leadership, the Committee is traveling outside 6 00:00:21,960 --> 00:00:25,079 Speaker 1: the marble halls of Congress to hold its hearings so 7 00:00:25,200 --> 00:00:27,600 Speaker 1: that Americans who can't afford to make the trip to 8 00:00:27,680 --> 00:00:31,040 Speaker 1: the nation's capital have the opportunity to shape the policies 9 00:00:31,360 --> 00:00:35,880 Speaker 1: that impact their lives every single day, whether it's lowering taxes, 10 00:00:36,240 --> 00:00:40,559 Speaker 1: providing regulatory relief, or ensuring our trade policies put American 11 00:00:40,600 --> 00:00:44,320 Speaker 1: workers first. Chairman Smith is partnering with the American people, 12 00:00:44,680 --> 00:00:48,320 Speaker 1: not lobbyists or special interests, to get America back on track. 13 00:00:48,960 --> 00:00:51,000 Speaker 1: I'm delighted to have him here. He's a good friend 14 00:00:51,040 --> 00:00:54,480 Speaker 1: and remarkably hard worker. He's joining me today to talk 15 00:00:54,480 --> 00:00:57,720 Speaker 1: about the latest discussions on the debt ceiling, as well 16 00:00:57,760 --> 00:01:00,480 Speaker 1: as his plans as Chairman for the House Ways and 17 00:01:00,520 --> 00:01:03,520 Speaker 1: Means Committee. So I'm really pleased to welcome my guest, 18 00:01:03,960 --> 00:01:09,240 Speaker 1: Congressman Jason Smith, who proudly serves Missouri's eighth Congressional District, 19 00:01:09,600 --> 00:01:24,720 Speaker 1: which includes southeast and south central Missouri. Jason, welcome and 20 00:01:24,840 --> 00:01:26,600 Speaker 1: thank you for joining me on newts World. 21 00:01:26,800 --> 00:01:29,080 Speaker 2: Well, thank you for having me, Speaker. It is my 22 00:01:29,200 --> 00:01:31,199 Speaker 2: pleasure to spend some time with you today. 23 00:01:31,600 --> 00:01:33,520 Speaker 1: Well, you're an expert in this, could you just take 24 00:01:33,560 --> 00:01:37,880 Speaker 1: a minute and explain for everyday citizens exactly what the 25 00:01:37,959 --> 00:01:40,120 Speaker 1: debt ceiling is and why it's so important. 26 00:01:40,480 --> 00:01:44,759 Speaker 2: Yeah, the debt limit expires whenever you basically max out 27 00:01:44,800 --> 00:01:48,520 Speaker 2: your credit card, and that is where we're at today. 28 00:01:48,840 --> 00:01:52,639 Speaker 2: We had the largest debt limit increase in the history 29 00:01:52,640 --> 00:01:57,240 Speaker 2: of our country just over a year ago, probably fourteen 30 00:01:57,240 --> 00:01:59,200 Speaker 2: to fifteen months ago. It was two and a half 31 00:01:59,240 --> 00:02:05,480 Speaker 2: trillion dollars, but unfortunately it was maxed out quickly because 32 00:02:06,160 --> 00:02:10,120 Speaker 2: of the one party Democrat rule of Joe Biden, Nancy Pelosi, 33 00:02:10,200 --> 00:02:16,240 Speaker 2: and Chuck Schumer, where you saw ten trillion dollars in 34 00:02:16,280 --> 00:02:20,960 Speaker 2: an increase of new spending, ten trillion dollars of an 35 00:02:21,040 --> 00:02:24,560 Speaker 2: increase of new spending, which has led to the debt 36 00:02:24,600 --> 00:02:27,799 Speaker 2: limit being maxed out right now. And that's where we're 37 00:02:27,840 --> 00:02:31,480 Speaker 2: addressing it, which is, you know, Speaker, the debt limit 38 00:02:31,600 --> 00:02:35,120 Speaker 2: is something that we've had to address over eighty times 39 00:02:35,160 --> 00:02:37,639 Speaker 2: in our country's history, and this is just another one 40 00:02:37,680 --> 00:02:42,400 Speaker 2: of them. And the House Republicans. President Biden refused to 41 00:02:42,520 --> 00:02:46,359 Speaker 2: negotiate with Speaker McCarthy, even though he said in February 42 00:02:46,400 --> 00:02:50,800 Speaker 2: that he would, and it led to us having to 43 00:02:50,840 --> 00:02:54,080 Speaker 2: pass a debt limit increase of our own, called Limits, 44 00:02:54,160 --> 00:02:56,919 Speaker 2: Save and Grow, and we did that with two hundred 45 00:02:56,919 --> 00:03:01,360 Speaker 2: and seventeen Republicans. In fact, every Democrat voted against raising 46 00:03:01,440 --> 00:03:05,600 Speaker 2: the debt limit. The only body or the only chamber 47 00:03:06,040 --> 00:03:09,960 Speaker 2: that has increased the debt limit so far this Congress, 48 00:03:10,000 --> 00:03:11,200 Speaker 2: is the House Republicans. 49 00:03:11,600 --> 00:03:14,800 Speaker 1: When you passed that in April twenty sixth, the Limit 50 00:03:14,960 --> 00:03:18,720 Speaker 1: Save Grow Act, you changed history because I think the 51 00:03:18,760 --> 00:03:22,040 Speaker 1: President Biden and the Democrats were counting on you not 52 00:03:22,160 --> 00:03:24,000 Speaker 1: being able to get together and not being able to 53 00:03:24,000 --> 00:03:26,160 Speaker 1: do this, in which case they would have come back 54 00:03:26,200 --> 00:03:30,680 Speaker 1: and really forced you into passing an unamended debt ceiling. 55 00:03:31,120 --> 00:03:33,600 Speaker 1: And as it is now, you clearly are the dominant 56 00:03:33,680 --> 00:03:37,560 Speaker 1: force in Washington on dealing with this. In fact, to 57 00:03:37,680 --> 00:03:41,240 Speaker 1: their great credit, the Senate Republicans, forty three of them, 58 00:03:41,480 --> 00:03:44,960 Speaker 1: including Senate Leader Mitch McConnell, signed a letter saying that 59 00:03:45,000 --> 00:03:48,160 Speaker 1: they would not cooperate in passing any kind of debt 60 00:03:48,160 --> 00:03:51,640 Speaker 1: ceiling that Speaker McCarthy and the House Republicans didn't agree to. 61 00:03:51,760 --> 00:03:55,400 Speaker 1: So you really have, in an amazing way, taken the 62 00:03:55,520 --> 00:03:59,760 Speaker 1: lead on a major opportunity to turn around the spending 63 00:03:59,760 --> 00:04:02,640 Speaker 1: pa in the United States. A key part of that 64 00:04:03,480 --> 00:04:06,720 Speaker 1: is work requirements for welfare, which, as you remember, when 65 00:04:06,720 --> 00:04:09,960 Speaker 1: I was Speaker, we passed the nineteen ninety six Welfare 66 00:04:10,000 --> 00:04:13,839 Speaker 1: Reform Bill, which was enormously successful in getting people back 67 00:04:13,840 --> 00:04:17,000 Speaker 1: to work, raising children out of poverty as their parents 68 00:04:17,040 --> 00:04:20,360 Speaker 1: earn more, et cetera. You've really talked a lot about 69 00:04:20,400 --> 00:04:24,240 Speaker 1: the importance of work and the importance of having work requirements. 70 00:04:24,440 --> 00:04:25,640 Speaker 1: Could you expand on that? 71 00:04:26,520 --> 00:04:29,400 Speaker 2: Absolutely, you led the way when you were Speaker in 72 00:04:29,440 --> 00:04:34,839 Speaker 2: getting work requirements. And one major aspect of the Limit 73 00:04:34,920 --> 00:04:39,440 Speaker 2: Save Grow Act is putting work requirements for able bodied, 74 00:04:39,600 --> 00:04:45,880 Speaker 2: healthy adults with no dependents on Medicaid on food stamps, 75 00:04:46,520 --> 00:04:50,919 Speaker 2: addressing some of the loopholes that were in Tannis, which 76 00:04:51,040 --> 00:04:53,599 Speaker 2: was a big success in the past, but people have 77 00:04:54,120 --> 00:04:58,880 Speaker 2: fallen through the cracks. When you travel across this country, Speaker, 78 00:04:59,520 --> 00:05:04,440 Speaker 2: you hear small businesses and farmers saying all the time 79 00:05:04,440 --> 00:05:08,400 Speaker 2: that they have help wanted postings everywhere just trying to 80 00:05:08,440 --> 00:05:12,240 Speaker 2: get people to work, and this will help with that 81 00:05:12,360 --> 00:05:15,960 Speaker 2: labor shortage. This will save over one hundred and twenty 82 00:05:16,000 --> 00:05:20,240 Speaker 2: five billion dollars one hundred and twenty five billion just 83 00:05:20,279 --> 00:05:24,400 Speaker 2: by having work requirements in medicaid and in food stamps. 84 00:05:24,440 --> 00:05:27,719 Speaker 2: So pretty excited about it. But I wanted to point 85 00:05:27,720 --> 00:05:32,279 Speaker 2: out the request that President Biden and Chuck Schumer has 86 00:05:32,320 --> 00:05:36,080 Speaker 2: been asking for, and that is a clean blank check 87 00:05:36,640 --> 00:05:39,800 Speaker 2: debt limit increase. They can't even pass it out of 88 00:05:39,839 --> 00:05:44,160 Speaker 2: the United States Senate, which is controlled by the Democrats. 89 00:05:44,720 --> 00:05:48,520 Speaker 2: If they could pass it, they would pass it. Even 90 00:05:48,640 --> 00:05:53,240 Speaker 2: Senate Democrats don't even support a blank check debt limit increase. 91 00:05:53,920 --> 00:05:57,560 Speaker 2: Believe me, if they could pass it, Senator Schumer would 92 00:05:57,560 --> 00:05:59,240 Speaker 2: put it on there. You were talking about the forty 93 00:05:59,240 --> 00:06:02,240 Speaker 2: three republic. I don't think they can even get fifty 94 00:06:02,400 --> 00:06:06,640 Speaker 2: one votes to pass a blank check limit increase. 95 00:06:07,120 --> 00:06:11,120 Speaker 1: Well, it was very striking that Democrat Senator Mansion, the 96 00:06:11,240 --> 00:06:14,680 Speaker 1: day you passed your bill to cut spending, came out 97 00:06:14,720 --> 00:06:17,120 Speaker 1: strongly and said that's the right direction, that's what we 98 00:06:17,160 --> 00:06:20,479 Speaker 1: should be doing. So I think you probably have a 99 00:06:20,560 --> 00:06:22,680 Speaker 1: couple of Democrats who would vote with you in the 100 00:06:22,720 --> 00:06:26,400 Speaker 1: Senate on your approach to it. My sense is that 101 00:06:27,000 --> 00:06:29,440 Speaker 1: Biden has now moved from I won't negotiate it all 102 00:06:29,560 --> 00:06:34,280 Speaker 1: to pretty aggressive negotiations with Speaker McCarthy's team trying to 103 00:06:34,279 --> 00:06:36,600 Speaker 1: get this thing solved. One of the things you did 104 00:06:36,640 --> 00:06:40,400 Speaker 1: that's fascinating, again just a sign of how strange the 105 00:06:40,440 --> 00:06:44,960 Speaker 1: Biden administration is. There were some provisions that involved billions 106 00:06:45,000 --> 00:06:49,520 Speaker 1: of dollars going to Chinese communist companies. That's one of 107 00:06:49,560 --> 00:06:52,760 Speaker 1: the things that your Limit Saved Growac cuts out, is 108 00:06:52,760 --> 00:06:56,200 Speaker 1: the kind of handouts to China and to billion dollar corporations. 109 00:06:56,320 --> 00:06:57,839 Speaker 1: Can you comment on that for a minute. 110 00:06:58,200 --> 00:07:02,200 Speaker 2: Yeah. In the Limit Saved Grid Act, it does numerous things, 111 00:07:02,760 --> 00:07:05,200 Speaker 2: but in regards to the work requirements we just hit on. 112 00:07:05,320 --> 00:07:08,839 Speaker 2: It also does the spending caps over a ten year 113 00:07:09,000 --> 00:07:12,960 Speaker 2: period starting out at fiscal year twenty two levels. It 114 00:07:13,080 --> 00:07:16,880 Speaker 2: reverses the eighty billion dollars to the IRS the eighty 115 00:07:16,920 --> 00:07:21,320 Speaker 2: seven thousand IRS agent. It adds the Reins Act, which 116 00:07:21,400 --> 00:07:26,320 Speaker 2: would basically hold the administration accountable for their executive orders 117 00:07:26,440 --> 00:07:30,800 Speaker 2: that any new rules that is over a billion dollars 118 00:07:30,880 --> 00:07:34,040 Speaker 2: would have to be approved by Congress in order to 119 00:07:34,960 --> 00:07:40,720 Speaker 2: be made in order. You're seeing repilling the President's Executive 120 00:07:40,880 --> 00:07:45,320 Speaker 2: Order on student loans. There's numerous items in the Limit 121 00:07:45,400 --> 00:07:49,640 Speaker 2: Save Grow Act that we're pushing. Also, something to know 122 00:07:49,760 --> 00:07:53,200 Speaker 2: how huge it was for House Republicans to stand together 123 00:07:53,800 --> 00:07:57,160 Speaker 2: in passing the Limit Save Grow Act is more than 124 00:07:57,360 --> 00:08:01,960 Speaker 2: half of the Republican conference had never voted for a 125 00:08:02,000 --> 00:08:07,320 Speaker 2: debt limit increase in their entire tenure, including myself, Speaker. 126 00:08:07,960 --> 00:08:11,000 Speaker 2: In ten years that I have served in Congress, I 127 00:08:11,080 --> 00:08:14,200 Speaker 2: had never vote for any bill that had a debt 128 00:08:14,240 --> 00:08:18,320 Speaker 2: limit increase until this one. And to help be part 129 00:08:18,360 --> 00:08:23,320 Speaker 2: of that process, that's a huge aspect. Almost four point 130 00:08:23,400 --> 00:08:27,000 Speaker 2: eight trillion dollars of savings is in this bill by 131 00:08:27,120 --> 00:08:30,640 Speaker 2: increasing the debt limit, and that's what the Speaker has said. 132 00:08:31,160 --> 00:08:35,559 Speaker 2: Speaker McCarthy has said he wants to get our fiscal 133 00:08:35,600 --> 00:08:39,160 Speaker 2: house in order. He wants to address fiscal insanity, and 134 00:08:39,320 --> 00:08:42,640 Speaker 2: you can't do that by just doing a blank check 135 00:08:42,880 --> 00:08:45,640 Speaker 2: debt limit increase. And that's what we're trying to do. 136 00:08:45,720 --> 00:08:48,120 Speaker 2: We're just trying to get the White House to negotiate 137 00:08:48,120 --> 00:08:51,360 Speaker 2: with Speaker McCarthy. They have been leaving him in the 138 00:08:51,520 --> 00:08:54,720 Speaker 2: dark without any conversations, and that's why we had to 139 00:08:54,760 --> 00:08:57,600 Speaker 2: pass the Limit Save Grow Act to just make sure 140 00:08:58,120 --> 00:09:00,720 Speaker 2: that they would follow through on some kind of negotiation. 141 00:09:01,320 --> 00:09:04,080 Speaker 1: I have met with the Budget Committee chairman, and it's 142 00:09:04,080 --> 00:09:07,120 Speaker 1: pretty clear that you're going to be able to follow 143 00:09:07,200 --> 00:09:11,679 Speaker 1: up on this initial first step with the dead sealing 144 00:09:11,679 --> 00:09:14,720 Speaker 1: cutting spending, and you are probably going to bring into 145 00:09:14,720 --> 00:09:18,520 Speaker 1: the floor a budget that actually proposes being balanced within 146 00:09:18,559 --> 00:09:21,800 Speaker 1: ten years, which will be an amazing shift from where 147 00:09:21,840 --> 00:09:24,840 Speaker 1: Biden was at. And the Ways and Means Committee will 148 00:09:24,880 --> 00:09:29,319 Speaker 1: play a very significant part of that, starting with work requirements, 149 00:09:29,400 --> 00:09:32,240 Speaker 1: but going on to a number of other areas. What 150 00:09:32,440 --> 00:09:35,360 Speaker 1: is your sense about the potential to actually get to 151 00:09:35,440 --> 00:09:38,400 Speaker 1: a balanced budget and to actually get back to real 152 00:09:38,440 --> 00:09:40,720 Speaker 1: economic growth on a scale that you're never going to 153 00:09:40,760 --> 00:09:41,800 Speaker 1: get to under Biden? 154 00:09:42,640 --> 00:09:45,560 Speaker 2: You know, speaker to everyone's goal to get to a 155 00:09:45,600 --> 00:09:50,360 Speaker 2: balance budget. It just doesn't make sense to any American 156 00:09:50,720 --> 00:09:54,240 Speaker 2: that they have to live within their means. Why can't 157 00:09:54,440 --> 00:09:58,480 Speaker 2: Washington do the same thing? And as you know, balancing 158 00:09:58,520 --> 00:10:01,720 Speaker 2: the budget has been very rare, It's only happened a 159 00:10:01,720 --> 00:10:05,400 Speaker 2: few times in our country's history. You did it multiple times, 160 00:10:05,440 --> 00:10:07,800 Speaker 2: which is great. That's exactly where we need to get 161 00:10:07,840 --> 00:10:10,720 Speaker 2: to and we do believe that we can get a 162 00:10:10,760 --> 00:10:16,120 Speaker 2: ten year balance budget proposal that balances within ten years. 163 00:10:16,360 --> 00:10:18,640 Speaker 2: But the way that you do that, you got to 164 00:10:18,679 --> 00:10:22,120 Speaker 2: stop this crazy spending. Just in the last three years, 165 00:10:22,679 --> 00:10:27,080 Speaker 2: discretionary spending has increased more than forty percent, more than 166 00:10:27,160 --> 00:10:29,760 Speaker 2: forty percent just in the last three years. And then, 167 00:10:30,360 --> 00:10:33,040 Speaker 2: like what I said, just in the last two years, 168 00:10:33,520 --> 00:10:38,040 Speaker 2: if you count over the ten year window, this administration, 169 00:10:38,640 --> 00:10:42,680 Speaker 2: Nacy Pelusian, Chuck Schumer has increased spending of ten trillion dollars. 170 00:10:42,720 --> 00:10:43,640 Speaker 2: We got to reverse that. 171 00:10:54,600 --> 00:10:57,280 Speaker 1: Hi, this is newt and my new book, Marks the Majority, 172 00:10:57,360 --> 00:11:00,080 Speaker 1: the real story of the Republican Revolution. I offer there 173 00:11:00,080 --> 00:11:04,040 Speaker 1: are strategies and insights for everyday citizens and for season politicians. 174 00:11:04,360 --> 00:11:07,440 Speaker 1: It's both a guide for political success and for winning 175 00:11:07,480 --> 00:11:10,520 Speaker 1: back the Majority. 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What are the messages 191 00:12:09,840 --> 00:12:10,440 Speaker 1: they give you. 192 00:12:11,240 --> 00:12:13,760 Speaker 2: My very first committee hearing as Chairman of the Ways 193 00:12:13,760 --> 00:12:16,960 Speaker 2: and Means Committee was not in Washington, DC. It was 194 00:12:17,040 --> 00:12:20,440 Speaker 2: in fact in Petersburg, West Virginia. We went to a 195 00:12:20,520 --> 00:12:24,840 Speaker 2: lumberyard there to hear from small business owners, coal miners, 196 00:12:25,080 --> 00:12:28,800 Speaker 2: working mothers. And what they've been telling us is that 197 00:12:28,880 --> 00:12:32,120 Speaker 2: they've been struggling just to put food on their table, 198 00:12:32,160 --> 00:12:35,440 Speaker 2: clothed in their backs, and gasoline in their cars. By 199 00:12:36,160 --> 00:12:40,880 Speaker 2: the current economy that they're facing, the spike in prices, 200 00:12:40,960 --> 00:12:44,240 Speaker 2: the highest inflation in forty years. We've seen inflation rise 201 00:12:44,320 --> 00:12:48,560 Speaker 2: fourteen point ninety percent since Joe Biden's taken the oath 202 00:12:48,600 --> 00:12:52,200 Speaker 2: of office, inflation was only one point four percent in 203 00:12:52,240 --> 00:12:57,559 Speaker 2: his very first month. We had the owner, Ashley Bachmann 204 00:12:57,640 --> 00:13:01,679 Speaker 2: of Cheetah Bees restaurant in Petersburg, West Virginia, testify before 205 00:13:01,720 --> 00:13:06,160 Speaker 2: our committee speaker, and she said that COVID was detrimental 206 00:13:06,200 --> 00:13:09,280 Speaker 2: to her. They barely made it. But what has even 207 00:13:09,360 --> 00:13:14,040 Speaker 2: been worse than COVID is inflation, and inflation has been 208 00:13:14,080 --> 00:13:17,040 Speaker 2: such a struggle from them. They've talked to us about 209 00:13:17,559 --> 00:13:20,480 Speaker 2: how it's so hard to get people to work because 210 00:13:20,480 --> 00:13:24,160 Speaker 2: they're competing with the government check. People are making more 211 00:13:24,160 --> 00:13:27,360 Speaker 2: in a government check than actually with a job, so 212 00:13:27,400 --> 00:13:30,839 Speaker 2: it's been very hard to hire employees. They've talked about 213 00:13:30,840 --> 00:13:35,280 Speaker 2: the supply chain crisis. They've talked about the energy crisis, 214 00:13:35,360 --> 00:13:40,200 Speaker 2: the spike in natural gas, the spike in gasoline. There's 215 00:13:40,360 --> 00:13:43,720 Speaker 2: numerous issues that they're facing. When I went before the 216 00:13:43,760 --> 00:13:47,960 Speaker 2: Steering Committee to become Chairman of the Ways and Means Committee, 217 00:13:48,040 --> 00:13:51,680 Speaker 2: the very first slide that I gave that committee is 218 00:13:51,720 --> 00:13:54,360 Speaker 2: that we're the Party of the working class, and we 219 00:13:54,400 --> 00:13:58,560 Speaker 2: need to make sure that our priorities and policies reflect that. 220 00:13:59,000 --> 00:14:01,520 Speaker 2: And as Chairman of the w and means committee. I 221 00:14:01,559 --> 00:14:05,880 Speaker 2: wanted to make sure that we put working families, small businesses, 222 00:14:05,920 --> 00:14:10,280 Speaker 2: and farmers as our top priorities. It's reflective of how 223 00:14:10,320 --> 00:14:13,280 Speaker 2: I was raised and who I represent. The congressional district 224 00:14:13,320 --> 00:14:17,199 Speaker 2: that I represent in southeast Missouri is the ninth poorest 225 00:14:17,240 --> 00:14:20,720 Speaker 2: congressional district in the nation out of four hundred and 226 00:14:20,760 --> 00:14:24,640 Speaker 2: thirty five, mister Speaker, but it's also the sixth most conservative, 227 00:14:25,240 --> 00:14:28,720 Speaker 2: So by definition, it shows that that's who we are 228 00:14:28,880 --> 00:14:32,640 Speaker 2: as a party. And I come from a very working 229 00:14:32,680 --> 00:14:35,560 Speaker 2: class family. My mother was a factory worker. My dad 230 00:14:35,800 --> 00:14:38,840 Speaker 2: was an auto mechanic at his own auto repair shop. 231 00:14:38,920 --> 00:14:41,840 Speaker 2: He was also a preacher. But the farm that I 232 00:14:42,080 --> 00:14:45,000 Speaker 2: live on, the farm that has been in my family 233 00:14:45,080 --> 00:14:49,600 Speaker 2: for four generations. My grandparents never had running water, so 234 00:14:49,760 --> 00:14:53,160 Speaker 2: I grew up in a family that whenever I would 235 00:14:53,200 --> 00:14:55,680 Speaker 2: work all day at the farm, in order to wash 236 00:14:55,720 --> 00:14:57,800 Speaker 2: my hands, I had to pump water out of a cistern, 237 00:14:58,320 --> 00:15:00,960 Speaker 2: and they didn't have indoor place. I had to use 238 00:15:00,960 --> 00:15:04,320 Speaker 2: that outhouse. It wasn't fun. When I bought that family farm, 239 00:15:04,800 --> 00:15:06,960 Speaker 2: one of the first things I did was burned down 240 00:15:07,000 --> 00:15:10,400 Speaker 2: the outhouse because I had enough of it. But I 241 00:15:10,440 --> 00:15:12,640 Speaker 2: am a product of the working class, and so is 242 00:15:12,680 --> 00:15:15,240 Speaker 2: our party. And so I'm trying to make sure that 243 00:15:15,320 --> 00:15:19,280 Speaker 2: we're going to real America places and talking to folks 244 00:15:19,400 --> 00:15:22,400 Speaker 2: that wouldn't really have the opportunity to come to Washington, 245 00:15:22,480 --> 00:15:25,320 Speaker 2: d C. We went to Yukon, Oklahoma, and we had 246 00:15:25,320 --> 00:15:27,880 Speaker 2: a filled hearing in a barn, listening to farmers and 247 00:15:28,000 --> 00:15:32,560 Speaker 2: ranchers and oil and gas producers. We went to Peachtree City, Georgia. 248 00:15:32,920 --> 00:15:36,000 Speaker 2: You're quite familiar with that area. We did a filled 249 00:15:36,000 --> 00:15:40,480 Speaker 2: hearing there in a manufacturing facility. Then we went to 250 00:15:40,640 --> 00:15:45,520 Speaker 2: Staaten Island, New York, at a port, the Saddin Island Port, 251 00:15:45,720 --> 00:15:49,400 Speaker 2: the second largest port in America. We did it outside, 252 00:15:49,440 --> 00:15:53,000 Speaker 2: which happened to be the first field hearing ever held 253 00:15:53,280 --> 00:15:56,520 Speaker 2: outside by the Ways and Means Committee, and we heard 254 00:15:56,520 --> 00:16:01,360 Speaker 2: from longshoresmen. We listened from farmers in upstate New York 255 00:16:01,400 --> 00:16:05,800 Speaker 2: that we're having issues with the fact that the Canadians 256 00:16:05,800 --> 00:16:10,680 Speaker 2: aren't upholding their aspect of USMCA. So this is where 257 00:16:10,680 --> 00:16:13,880 Speaker 2: we're hearing from real Americans and figuring out solutions to it. 258 00:16:13,920 --> 00:16:16,600 Speaker 2: And that's where we're going to create an economic package 259 00:16:16,680 --> 00:16:19,320 Speaker 2: that addresses those concerns. And we're going to push that 260 00:16:19,360 --> 00:16:20,120 Speaker 2: through Congress. 261 00:16:20,520 --> 00:16:25,240 Speaker 1: You really are starting at the grassroots and then growing 262 00:16:25,320 --> 00:16:30,120 Speaker 1: the ideas from the American people back to Washington, rather 263 00:16:30,160 --> 00:16:34,000 Speaker 1: than taking Washington ideas and trying to sell the American people. 264 00:16:34,480 --> 00:16:37,520 Speaker 2: That's how you make the best policy. You have these 265 00:16:37,640 --> 00:16:41,240 Speaker 2: big corporations that they have all their lobbyists that they 266 00:16:41,240 --> 00:16:44,760 Speaker 2: can hire. But you know what, the lobbyists for working 267 00:16:44,760 --> 00:16:49,160 Speaker 2: class families and small businesses and farmers are their elected 268 00:16:49,240 --> 00:16:52,760 Speaker 2: public servants. They're members of Congress, and so that's where 269 00:16:52,800 --> 00:16:55,480 Speaker 2: we need to go. We need to go listen to them. 270 00:16:55,640 --> 00:16:58,560 Speaker 2: We need to hear their issues and then develop the 271 00:16:58,640 --> 00:17:02,840 Speaker 2: policies that best affect their lives. And that is our goal. 272 00:17:03,320 --> 00:17:07,080 Speaker 2: Whenever you're talking about the supply chains issues that came up. 273 00:17:07,200 --> 00:17:11,800 Speaker 2: We have to make sure that our country, using tax 274 00:17:11,840 --> 00:17:16,400 Speaker 2: and trade mechanisms, make sure our country is energy secured, 275 00:17:16,840 --> 00:17:20,439 Speaker 2: we have food security, and we have medical security. We 276 00:17:20,560 --> 00:17:23,720 Speaker 2: learned during COVID we had some weaknesses. We need to 277 00:17:23,760 --> 00:17:28,879 Speaker 2: make sure our tax and our trade mechanisms only incentivize 278 00:17:29,080 --> 00:17:31,360 Speaker 2: security in those three areas. 279 00:17:31,920 --> 00:17:35,119 Speaker 1: The approach you're taking in some ways builds on the 280 00:17:35,160 --> 00:17:40,080 Speaker 1: original Tax Cuts and Jobs Act, which was amazingly successful. 281 00:17:40,840 --> 00:17:42,679 Speaker 1: And I know you talk a good bit about it 282 00:17:43,119 --> 00:17:46,560 Speaker 1: in talking about for America's economy to work. Talk just 283 00:17:46,680 --> 00:17:50,240 Speaker 1: amen about that Republican Congress working with a Republican president 284 00:17:50,920 --> 00:17:54,119 Speaker 1: really set the stage for an amazing level of economic 285 00:17:54,160 --> 00:17:57,600 Speaker 1: growth that put us in pretty good shape before COVID. 286 00:17:58,480 --> 00:18:02,840 Speaker 2: It was an incredible shape. What happened in twenty seventeen 287 00:18:03,280 --> 00:18:06,520 Speaker 2: with passage of the Tax Cut and Jobs Act led 288 00:18:06,600 --> 00:18:09,880 Speaker 2: to the highest revenues in the history of our country. 289 00:18:10,160 --> 00:18:14,320 Speaker 2: We saw that last year, four point nine trillion dollars 290 00:18:15,040 --> 00:18:17,760 Speaker 2: was the largest revenues in our country. But you know 291 00:18:17,840 --> 00:18:24,040 Speaker 2: what's also interesting, Speaker, is that the revenues from passage 292 00:18:24,080 --> 00:18:29,640 Speaker 2: of TCGA actually was almost a trillion dollars more than 293 00:18:29,680 --> 00:18:34,119 Speaker 2: what Joint Tax said that they would be. Last year. 294 00:18:34,320 --> 00:18:38,680 Speaker 2: They were almost a trillion dollars more in revenues than 295 00:18:38,800 --> 00:18:43,480 Speaker 2: what Joint Tax had expected, and you saw the exponential 296 00:18:43,800 --> 00:18:47,560 Speaker 2: job growth. What's unfortunate, mister speaker, is that several of 297 00:18:47,600 --> 00:18:51,199 Speaker 2: those provisions are starting to expire. For example, research and 298 00:18:51,280 --> 00:18:56,359 Speaker 2: development has expired last year. You see bonus appreciations starting 299 00:18:56,359 --> 00:18:59,680 Speaker 2: to phase out. It's at eighty percent this year. Interesting, 300 00:18:59,760 --> 00:19:03,840 Speaker 2: duct ability has expired in the year twenty twenty five, 301 00:19:04,240 --> 00:19:07,720 Speaker 2: you'll see numerous other provisions expire, such as the doubling 302 00:19:07,760 --> 00:19:11,240 Speaker 2: of the child tax credit, the doubling of the standard deduction. 303 00:19:12,040 --> 00:19:17,440 Speaker 2: Ninety one percent of Americans use the standard deduction, they 304 00:19:17,440 --> 00:19:19,399 Speaker 2: don't do the long form, so they're going to be 305 00:19:19,480 --> 00:19:23,560 Speaker 2: drastically affected by that. And then you see the reduction 306 00:19:23,800 --> 00:19:26,399 Speaker 2: in the death tax will come in twenty twenty five, 307 00:19:26,800 --> 00:19:30,399 Speaker 2: and then you'll see the small business deduction expires in 308 00:19:30,440 --> 00:19:33,200 Speaker 2: twenty twenty five, along with a lot of the individual rates. 309 00:19:33,200 --> 00:19:35,639 Speaker 2: So we got our work cut out for us. And 310 00:19:35,760 --> 00:19:38,680 Speaker 2: that is why we're going to be crisscrossing the country 311 00:19:38,960 --> 00:19:44,080 Speaker 2: hearing what provisions work the best in two thoy seventeen 312 00:19:44,119 --> 00:19:47,640 Speaker 2: Tax Cutting Jobs Act, which ones might need to be tweaked, 313 00:19:48,080 --> 00:19:50,560 Speaker 2: and which ones might need to just be expired, and 314 00:19:50,600 --> 00:19:53,960 Speaker 2: then whatever new provisions in the tax code that can 315 00:19:54,280 --> 00:19:57,720 Speaker 2: help working class families in small businesses. That's what we're 316 00:19:57,720 --> 00:20:01,399 Speaker 2: doing and listening to. I think about the witness that 317 00:20:01,600 --> 00:20:05,080 Speaker 2: was in Peachtree City, Georgia. She was an accowtan had 318 00:20:05,080 --> 00:20:09,399 Speaker 2: her own small business CPA firm, and she gave it 319 00:20:09,560 --> 00:20:14,199 Speaker 2: up an example of how government has not continued to 320 00:20:14,359 --> 00:20:17,720 Speaker 2: keep up with inflation, and she was talking about basic 321 00:20:17,880 --> 00:20:21,640 Speaker 2: ten ninety nine's that small businesses have to do. That 322 00:20:22,119 --> 00:20:26,240 Speaker 2: they've been at six hundred dollars since the fifties. They've 323 00:20:26,280 --> 00:20:29,879 Speaker 2: not gone up with inflation. And if they would have 324 00:20:29,960 --> 00:20:32,919 Speaker 2: just gone up with inflation, you would have figured that 325 00:20:33,520 --> 00:20:35,720 Speaker 2: you wouldn't have to do a W two form up 326 00:20:35,800 --> 00:20:39,840 Speaker 2: to the amount of seven thousand dollars. This is red 327 00:20:39,880 --> 00:20:43,399 Speaker 2: tape that small businesses have to worry about. And you 328 00:20:43,440 --> 00:20:47,720 Speaker 2: don't have folks in Washington, DC paid the lobby on that. Actually, 329 00:20:47,760 --> 00:20:49,840 Speaker 2: no one has ever talked to me about that until 330 00:20:49,880 --> 00:20:53,639 Speaker 2: I heard that from that young lady down there. And 331 00:20:53,680 --> 00:20:57,119 Speaker 2: then I started thinking about all the farmers and small 332 00:20:57,160 --> 00:21:00,879 Speaker 2: businesses that I know that have to do so many 333 00:21:01,119 --> 00:21:04,960 Speaker 2: W two forms for their contract labor. Maybe they pay 334 00:21:05,160 --> 00:21:08,600 Speaker 2: like some school kids to haul hay or build fence 335 00:21:09,280 --> 00:21:12,040 Speaker 2: or random stuff. We just need to make government work 336 00:21:12,080 --> 00:21:14,080 Speaker 2: for the people so much better, and the only way 337 00:21:14,119 --> 00:21:16,120 Speaker 2: you do that is by listening to real Americans. 338 00:21:26,600 --> 00:21:29,280 Speaker 1: Hi, this is newt. In my new book, March the Majority, 339 00:21:29,359 --> 00:21:32,840 Speaker 1: The Real Story of the Republican Revolution, I offer strategies 340 00:21:32,840 --> 00:21:36,560 Speaker 1: and insights for everyday citizens and for season politicians. It's 341 00:21:36,600 --> 00:21:39,640 Speaker 1: both a guide for political success and for winning back 342 00:21:39,680 --> 00:21:42,920 Speaker 1: the Majority. In twenty twenty four, March to the Majority 343 00:21:42,920 --> 00:21:47,000 Speaker 1: outlines the sixteen year campaign to write the Contract with America, 344 00:21:47,400 --> 00:21:50,840 Speaker 1: explains how we elected the first Republican House majority in 345 00:21:51,000 --> 00:21:54,440 Speaker 1: forty years in how we worked with President Bill Clinton 346 00:21:54,720 --> 00:22:00,199 Speaker 1: to pass major reforms, including four consecutive balance budgets. The 347 00:22:00,200 --> 00:22:03,399 Speaker 1: Majority tells the behind the scenes story of how we 348 00:22:03,480 --> 00:22:06,880 Speaker 1: got it done. Here's a special offer for my podcast listeners. 349 00:22:07,240 --> 00:22:10,600 Speaker 1: You can pre order March the Majority right now at 350 00:22:10,600 --> 00:22:13,840 Speaker 1: gingrishtree sixty dot com slash book and it'll be shipped 351 00:22:13,840 --> 00:22:17,040 Speaker 1: directly to you on June sixth. Don't miss out on 352 00:22:17,080 --> 00:22:19,879 Speaker 1: the special offer to pre order my new book today. 353 00:22:20,240 --> 00:22:23,240 Speaker 1: Go to ginglishtree sixty dot com slash book and order 354 00:22:23,280 --> 00:22:26,880 Speaker 1: your copy now. Order it today at gingishtree sixty dot 355 00:22:26,920 --> 00:22:34,919 Speaker 1: com slash book. Well, it's really striking too at the 356 00:22:35,000 --> 00:22:39,800 Speaker 1: very time that the government makes life more complicated for 357 00:22:40,560 --> 00:22:44,520 Speaker 1: small businesses. The government was so badly run that I 358 00:22:44,560 --> 00:22:47,080 Speaker 1: think your folks have estimated that we may have had 359 00:22:47,119 --> 00:22:50,040 Speaker 1: somewhere between one hundred and ninety and four hundred billion 360 00:22:50,119 --> 00:22:54,920 Speaker 1: dollars stolen during the COVID cycle. That's an astonishing set 361 00:22:54,920 --> 00:22:55,439 Speaker 1: of numbers. 362 00:22:56,040 --> 00:23:00,240 Speaker 2: The unemployment fraud that we highlighted in the Way and 363 00:23:00,280 --> 00:23:04,800 Speaker 2: Means Committee is so disturbing. The Department of Labor confirmed 364 00:23:04,840 --> 00:23:08,080 Speaker 2: that at minimum, they believed that there was at least 365 00:23:08,160 --> 00:23:11,800 Speaker 2: one hundred and ninety billion dollars. But we have other 366 00:23:11,920 --> 00:23:15,199 Speaker 2: outside groups that are reporting that they believe that the 367 00:23:15,280 --> 00:23:18,960 Speaker 2: fraud is over four hundred billion. And when you think 368 00:23:19,000 --> 00:23:23,320 Speaker 2: about four hundred billion, the total amount of unemployment that 369 00:23:23,400 --> 00:23:26,960 Speaker 2: was distributed during the pandemic was right at eight hundred 370 00:23:27,000 --> 00:23:30,960 Speaker 2: and fifty billion, so you're looking at nearly half of 371 00:23:31,040 --> 00:23:34,440 Speaker 2: it was by fraud. We found some people that had 372 00:23:34,480 --> 00:23:40,320 Speaker 2: filed for unemployment in forty eight states, forty eight states, 373 00:23:40,520 --> 00:23:46,439 Speaker 2: absolutely amazing. The folks that collected unemployment from other countries 374 00:23:46,880 --> 00:23:51,640 Speaker 2: that frauded the system. It's maddening. People were purchasing Lamborghini 375 00:23:51,800 --> 00:23:54,960 Speaker 2: speaker the fraud and the waste that was in there. 376 00:23:55,240 --> 00:23:59,240 Speaker 2: They started out with self certification, which was absolutely maddening. 377 00:23:59,359 --> 00:24:02,840 Speaker 2: We tried to get the House Democrats to prevent that, 378 00:24:03,600 --> 00:24:05,879 Speaker 2: and this is what led to it. We were glad 379 00:24:05,960 --> 00:24:09,000 Speaker 2: to pass a bill to go after unemployment fraud, and 380 00:24:09,040 --> 00:24:12,080 Speaker 2: it actually passed the House with bipartisan support. We had 381 00:24:12,119 --> 00:24:16,320 Speaker 2: ten Democrats that did join with us in opposition of 382 00:24:16,359 --> 00:24:19,080 Speaker 2: the unemployment fraud and the way that it was being 383 00:24:19,080 --> 00:24:23,360 Speaker 2: paid for was by using unobligated dollars. There's over fifty 384 00:24:23,520 --> 00:24:27,919 Speaker 2: sixty billion dollars in unobligated dollars. It's nice to have 385 00:24:27,960 --> 00:24:31,200 Speaker 2: a Democrat actually vote to rescind that money. Maybe they'll 386 00:24:31,240 --> 00:24:34,080 Speaker 2: support that provision that we had in the limit Safe 387 00:24:34,160 --> 00:24:36,480 Speaker 2: Grow app to increase the debt limit. 388 00:24:36,960 --> 00:24:39,800 Speaker 1: I mean, that's just one last thing I believe very deeply. 389 00:24:39,840 --> 00:24:43,240 Speaker 1: And we just finished a pull at America's new majority 390 00:24:43,240 --> 00:24:49,199 Speaker 1: project on transparency and healthcare in the countries overwhelmingly in 391 00:24:49,280 --> 00:24:53,399 Speaker 1: favor of transparency and cost and quality and healthcare. And 392 00:24:53,440 --> 00:24:55,320 Speaker 1: you've been doing some real work on that. Could you 393 00:24:55,359 --> 00:24:58,280 Speaker 1: just comment briefly on what you think the status is 394 00:24:58,359 --> 00:24:59,720 Speaker 1: on transparency and. 395 00:24:59,720 --> 00:25:05,080 Speaker 2: Health Transparency and healthcare is imperative for competition. It's what 396 00:25:05,440 --> 00:25:09,320 Speaker 2: every patient deserves. They deserve the right to know the 397 00:25:09,359 --> 00:25:11,800 Speaker 2: cost of their health care. And so we did just 398 00:25:11,880 --> 00:25:15,960 Speaker 2: have a hearing this week. We're working in conjunction with 399 00:25:16,080 --> 00:25:19,000 Speaker 2: the Energy and Commerce Committee Chair Kathy mc morris Rodgers 400 00:25:19,119 --> 00:25:23,240 Speaker 2: is also working on price transparency. President Trump did such 401 00:25:23,320 --> 00:25:27,199 Speaker 2: a good job when he was president in having promulgating 402 00:25:27,320 --> 00:25:32,760 Speaker 2: rules for price transparency for hospitals and insurers. Unfortunately, they're 403 00:25:32,800 --> 00:25:35,760 Speaker 2: not following up to it like they should. We believe 404 00:25:35,840 --> 00:25:38,480 Speaker 2: roughly only twenty five percent of the hospitals in the 405 00:25:38,560 --> 00:25:43,679 Speaker 2: nation and there's over six thousand hospitals are actually following 406 00:25:44,040 --> 00:25:48,320 Speaker 2: the transparency rules, and so we're hoping to create more 407 00:25:48,480 --> 00:25:50,680 Speaker 2: transparency and access. That's the only way you're going to 408 00:25:50,720 --> 00:25:53,479 Speaker 2: get more competition. But I really think that we're going 409 00:25:53,520 --> 00:25:55,600 Speaker 2: to be able to get some legislation moving on that 410 00:25:55,800 --> 00:25:59,639 Speaker 2: very shortly, and excited about that. When you look at healthcare, 411 00:26:00,080 --> 00:26:03,119 Speaker 2: how to look at transparency of the cost, but you 412 00:26:03,240 --> 00:26:07,000 Speaker 2: also have to look at access to healthcare. We have 413 00:26:07,119 --> 00:26:09,760 Speaker 2: so many rural areas in this country that are healthcare 414 00:26:09,880 --> 00:26:14,480 Speaker 2: deserts where they can't even get healthcare because they don't 415 00:26:14,520 --> 00:26:17,479 Speaker 2: have hospitals, they don't have health clinics. And we've got 416 00:26:17,520 --> 00:26:21,680 Speaker 2: to figure out way to incentivize that behavior to create 417 00:26:21,800 --> 00:26:24,399 Speaker 2: more private investment, and we need to find ways just 418 00:26:24,440 --> 00:26:28,560 Speaker 2: to uberize healthcare altogether. We need something to disrupt healthcare 419 00:26:28,680 --> 00:26:32,159 Speaker 2: to create more cares, more innovations, bring down the price, 420 00:26:32,240 --> 00:26:33,639 Speaker 2: and create more competition. 421 00:26:34,160 --> 00:26:36,760 Speaker 1: Well, you're doing exactly the right things, and I want 422 00:26:36,760 --> 00:26:39,920 Speaker 1: to thank you for joining me. I've been watching you 423 00:26:40,000 --> 00:26:42,639 Speaker 1: and watching your career. The work you're doing for the 424 00:26:42,680 --> 00:26:45,360 Speaker 1: people of Missouri's eighth District is amazing. You have an 425 00:26:45,359 --> 00:26:49,680 Speaker 1: exact feel for rural America and for small business America. 426 00:26:50,200 --> 00:26:52,960 Speaker 1: I'm sure they are very proud that you're now the 427 00:26:53,000 --> 00:26:55,439 Speaker 1: Sharing of the Ways of Means Committee. And I know 428 00:26:55,520 --> 00:26:57,399 Speaker 1: how much the committee is getting done because I follow 429 00:26:57,440 --> 00:26:59,800 Speaker 1: it very carefully, and you're just doing a great job 430 00:26:59,840 --> 00:27:02,280 Speaker 1: of leadership. And I want to thank you for being 431 00:27:02,320 --> 00:27:03,000 Speaker 1: with us today. 432 00:27:03,280 --> 00:27:05,720 Speaker 2: Thank you, mister speaker. It's always a pleasure to be 433 00:27:05,800 --> 00:27:09,280 Speaker 2: with you, and it's an honor to represent my home 434 00:27:09,320 --> 00:27:11,840 Speaker 2: where my family is called home for seven generations, and 435 00:27:11,920 --> 00:27:13,960 Speaker 2: to fight for them in Washington, d c. And to 436 00:27:14,000 --> 00:27:16,800 Speaker 2: fight for our way of life and our values and 437 00:27:16,920 --> 00:27:20,840 Speaker 2: to try to make the lives of all Americans that 438 00:27:21,040 --> 00:27:24,400 Speaker 2: much better. And the Ways and Means Committee can do that, 439 00:27:24,560 --> 00:27:25,800 Speaker 2: and that's what we're trying to do. 440 00:27:28,359 --> 00:27:30,960 Speaker 1: Thank you to my guest chairman, Jason Smith. You can 441 00:27:31,040 --> 00:27:33,400 Speaker 1: learn more about the dut Ceiling on our show page 442 00:27:33,600 --> 00:27:37,320 Speaker 1: at newtsworld dot com. Newtsworld is produced by Gager Street 443 00:27:37,359 --> 00:27:42,520 Speaker 1: sixty and iHeartMedia. Our executive producer is Guarnsey Sloan and 444 00:27:42,560 --> 00:27:46,159 Speaker 1: our researcher is Rachel Peterson. You all work for the 445 00:27:46,200 --> 00:27:49,960 Speaker 1: show was created by Steve Penley special thanks to the 446 00:27:50,000 --> 00:27:53,200 Speaker 1: team at Gangwis Street sixty. If you've been enjoying Newtsworld, 447 00:27:53,600 --> 00:27:56,359 Speaker 1: I hope you'll go to Apple Podcasts and both rate 448 00:27:56,480 --> 00:27:59,600 Speaker 1: us with five stars and give us a review so 449 00:27:59,680 --> 00:28:02,640 Speaker 1: others can learn what it's all about. Right now, listeners 450 00:28:02,640 --> 00:28:05,320 Speaker 1: of Newtsworld can sign up for my three free weekly 451 00:28:05,400 --> 00:28:09,520 Speaker 1: columns at Gingrish three sixty dot com slash newsletter. I'm 452 00:28:09,600 --> 00:28:11,560 Speaker 1: Newt Gingrich. This is Nutsworld.