Leader Schumer Floor Remarks On Donald Trump’s Tariffs That Will Raise Costs On Americans In Order To Provide A Tax Cut For Billionaires

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today spoke on the Senate floor on Donald Trump destroying the American economy with his ill-conceived and chaotic tariffs, which will raise costs on American families, to pay for a tax cut for the ultra-wealthy. Below are Senator Schumer’s remarks, which can also be viewed here:

I want to thank Senator Kaine for his seeing around the curb, seeing how important this was months ago, and persisting and persisting and persisting in getting us to this place.

Now, President Trump just announced his new tariff package a few hours ago, and it's even worse than we thought.

In addition to the tariffs that he has already imposed, he now has a 10% across-the-board tariff on all products. What is this going to do to American families? It's going to clobber them.

It's estimated that the Trump tariff will add about $5,000 to the average family's cost.

And why is he doing it? To reduce taxes on the billionaires. They've said that. Peter Navarro and Donald Trump have said it over and over again that they want to reduce those taxes. It is outrageous.

The average family sitting at the kitchen table on Friday night is saying to themselves, whoa boy, we better cut back on our purchases. Maybe we ought not go out to the restaurant. Maybe we ought not to take that vacation we've been saving up for for a year. Maybe we ought not to buy that new car.

Consumer confidence is lower than it's been in many, many years. The average business, because of the chaotic nature – Trump says one thing one day and another thing the next day – is holding back.

Businesses small and large need certainty, but there's no certainty here with the chaos that Donald Trump has created.

And listen to this: when told that it would raise the costs on the American family, Trump himself said he couldn't care less if prices go up.

What kind of bubble is he living in? These billionaires who are running the country – Trump, Musk, Lutnick –  they're in such a bubble, they don't know how the average family is hurting.

Yeah, they're billionaires, God bless them, they made a lot of money. But don't think that average people are in the same boat.

The costs of groceries, the costs of prescription drugs, the cost of gasoline, the cost of buying a car, the cost of buying a house, the cost of furniture, the cost of clothing, and everything people buy is going to go up.

Donald Trump said he'd reduce prices on day one when he got elected. He's doing just the opposite with these tariffs.

He's raising prices through the roof and strangling American families. My colleague in Connecticut alluded to Smoot-Hawley. The New Smoot-Hawley is Trump-Musk.

These taxes could create a global trade war. Our allies are allying together at how they’re going to get back at Trump and what he’s done to the country.

This is not liberation day, as Trump called it. This is – a few weeks earlier, in effect – tax day. It’s huge taxes through tariffs on American families. It's a gut punch. It's a gut punch for the average American.

And so, right now I know Donald Trump is pressuring Senate Republicans to vote this resolution down. He's treating this like a loyalty test.

But my plea to my Senate Republican colleagues is to stand with the American people. You know how bad this is. A few of you have already said you can't vote for this. Please, don't be intimidated by Donald Trump, who said he couldn't care less if prices go up on your constituents.

My Republican colleagues, don't listen to him. This is a disaster, a disaster for working families, a disaster for the nation's economy, a disaster for our alliances and relationships around the world.

All doing so much to hurt America for one darn reason – cutting taxes for the billionaires. This is a government by the billionaires. Everything they do, whether it's this budget they came out with today or this tariff bill, is in obeisance to the very few wealthy people who seem to control the Republican party and want another tax cut.

I urge everybody to vote against these horrible, horrible tariffs. Tariffs on Canada have very little to do with fentanyl. We know that. Tariffs on Canada and all the other countries he's now added to the list have everything to do with more tax breaks for billionaires.

I strongly, strongly urge a yes vote. These tariffs are worse than what we had thought. He made it worse when he announced what he was doing a few hours ago.

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