At a Senate Finance Committee executive session on Friday, Sen. Elizabeth Warren (D-MA) spoke about the nomination of Michael Faulkender to be Deputy Secretary of the Treasury.
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NewsTranscript
00:00Senator Warren, and she will be followed by Senator Lujan.
00:05Thank you, Mr. Chairman.
00:07Mr. Chairman, I will be voting no on Dr. Faulkner's nomination as Deputy Treasury Secretary.
00:13I can't support a nominee who wants to support Trump's plan to slash taxes for millionaires, billionaires, and giant corporations.
00:23I cannot support a nominee who's okay with Musk's takeover of the IRS.
00:28And I cannot support a nominee who is willing to gut Medicaid and take money away from old people in nursing homes in order to give the wealthy more tax cuts.
00:40But I will give Dr. Faulkner some credit.
00:43Despite his strong support for Donald Trump's billionaire tax cuts,
00:48he admitted to me last week at our hearing that Republicans' plan to use magic math to ram through those tax cuts makes no sense.
01:01Republicans have a problem on their hand.
01:04They love to talk about how they care about the deficit.
01:08But Congress's independent scorekeepers have said their plan to cut taxes for the ultra-wealthy will cost about $4.6 trillion.
01:19So the Republicans' response? Magic math.
01:23They want to use a gimmick called current policy baseline to say that these tax cuts for the rich will cost a whopping zero.
01:33So I asked Dr. Faulkner last week, does using some magic words to describe Republican tax cuts mean that those tax cuts will deliver more revenue for the government?
01:46And to his credit, he said, nope, it does not.
01:51Here's the thing. When Republicans' own nominee, to be the number two guy at the Treasury Department,
01:58is admitting that the math for the Republican tax plan doesn't work, then the Republicans have a problem.
02:07But admitting that Republicans can't repeal math does not make this guy qualified to run the Treasury Department.
02:16Dr. Faulkner has said over and over again, he's all on board with Donald Trump and Elon Musk's plans.
02:24And what are those plans? They are hell-bent on cutting Medicare, Medicaid, and Social Security,
02:32either to pay for those giant tax cuts or, I guess, just for the cruelty of it all.
02:39I can't support a nominee who's willing to sell out working families for billionaires, millionaires, and billionaire corporations.
02:47I urge my colleagues to vote no on Dr. Faulkner.