At today's Senate Reublican leadership press briefing, Senate Majority Leader John Thune (R-SD) promoted the GOP budget plan.
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NewsTranscript
00:00Good afternoon, everybody. Republicans continue to have very productive conversations on how to achieve our agenda and working with President Trump on making sure that we are rebuilding our military, unleashing American energy dominance, making sure that there isn't a $4.5 trillion tax increase on the American people at the end of this year, and obviously securing our border.
00:24Those are the priorities that we believe need to be addressed, and those are the discussions that we've been having in our conference about the best way to achieve that.
00:32Obviously, we are hopeful that this week we can get a budget resolution on the floor that will unlock the process that will enable us to achieve and reach those goals.
00:41And so we are continuing to move forward with that, and of course we expect the Democrats to resist us at every turn.
00:48But unfortunately for them, when they talk about fighting, fighting, fighting, what they are fighting, obviously, against, or for, I should say, is a $4.5 trillion tax increase on the American people at the end of the year.
01:04That's what's at stake in this discussion.
01:07And what that means, if you put it into kind of just everyday terms, there are literally those who make less than $400,000 a year.
01:17There would be a $2.6 trillion tax increase on those wage earners and a $600 billion tax increase on small businesses.
01:26That's what's at stake in this conversation.
01:29So say, for example, if you're a working family in this country with kids, if we don't extend the existing tax relief by the end of this year, then you will see the child tax credit go from a $2,000 child tax credit to a $1,000 child tax credit.
01:45So every family in this country who has children would face, per child, a $1,000 tax increase.
01:52And look at the standard deduction.
01:54Now 91% of the people in this country claim the standard deduction.
01:59Well, if we don't take action by the end of this year to extend the existing tax policy, you would see that standard deduction cut almost in half.
02:08So about $30,000 to about half that.
02:11Again, hitting middle-income families.
02:14That's what we are talking about and that's what we are doing in this process is working on an agenda that will be good for the American people, will bring down the cost of energy, will allow them to keep more of what they earn, that will keep the country safe and secure for future generations, and make sure that our southern border is secure and so all the associated problems that we've had in the past four years in the Biden administration are done away with.
02:40The President has made huge progress on that front already.
02:43We want to become partners in working with him to achieve these objectives on behalf of the American people.
02:48Next up, Senator Barraza.