TRANSCRIPT: Leader Schumer Delivers Remarks At Press Conference On Senate Republicans’ Dangerous Budget Resolution And Chaotic Tariffs

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) alongside Senators Wyden (D-OR), Merkley (D-OR), Blumenthal (D-CT), Baldwin (D-WI) and Warren (D-MA) held a press conference on Senate Republicans' dangerous budget resolution which will give tax cuts to billionaires at the expense of working American families. Below are Senator Schumer’s remarks, which can also be viewed here:

Leader Schumer: I'm proud to be joined by my colleagues, Senators Merkley, Warren, Baldwin, Blumenthal, and Wyden, and thank them for joining me in standing up against tax cuts for billionaires and for fighting for working families. That's what we're doing. So today, the Senate Republicans will vote to move forward with a budget resolution that will decimate Medicaid, housing, veterans, SNAP, and more, all in pursuit of tax cuts for their billionaire's club. We will highlight the devastating Trump tariff tax, all to help the billionaires as well. And since they don't want to tell you how much this will cost, allow me. If passed, this will add $37 trillion to the national debt. That's more than double the totality of our national debt today. And I find this very interesting because some of the same senators have had very deep concerns about the debt not too long ago and are now on board with this reckless, irresponsible plan. Let me give you a couple of quotes. I have a whole bunch, but I'm only doing two.

Senator Thune, “We need to start tackling this debt, and we need to start doing it now.”

Senator Cruz, “Debt is out of control, and it's jeopardizing the future for our kids. I've got two little kids… and the idea of handing them a $16 trillion debt, I think, is immoral.” So what does he think of $37 trillion if 16 is immoral?

Now, American families are going to be screwed by these cuts, not to mention the higher costs they'll be saddled with because of the crippling Trump tariff tax coming our way. We welcome the opportunity to have this debate in the open for all Americans to see. So tonight, Senate Democrats will do everything in our power to do what Republicans won't do, fight for American families. People are going to see who's on whose side. They are for the billionaires. We are for American families. And under the Republican plan, families lose, billionaires win. That could sum up the whole fight, very, very succinctly. So tonight, we'll focus during debate time on preserving Medicaid. Tomorrow we'll continue with preventing tax cuts for billionaires, protecting veterans and national security, exposing corruption within the administration, defending Social Security, and stopping the seemingly never-ending rise of costs to American families highlighted by the Trump tariff tax. Tonight, you'll see our caucus forcing votes, fighting for American families, and asking Republicans where they stand and who exactly they're fighting for.

And on top of gutting essential programs, as much as we saw in the budget that's been revealed, their proposal that's been revealed in the last few days, yesterday, and I'll focus on the tariffs here, yesterday, the President made one of the dumbest decisions in history, one that will negatively impact every single American family, every single one. He's walking us into the dumbest and most avoidable recession probably in history. And let's call the Trump tariff tax for what they really are, a huge tax hike on American families. And not just any tax hike. J.P. Morgan called it, quote, “The equivalent to the largest tax increase since 1968.” Here's what Bloomberg said, quote, “Roughly $2 trillion was erased from the S&P 500 at the start of U.S. trading on Thursday, amid worries that President Donald Trump's sweeping new round of tariffs could plunge the economy into a recession.” And it claims more than 80 percent of the companies in the S&P were trading lower. Stock market has plummeted. Retirement savings are tanking. Consumer confidence is falling. Consumer expectations for the future are historically low. Companies are already announcing layoffs. I saw Stellantis just knocked off eight — was going to fire 800 people, lay them off. All for the Trump tariff tax.

All for that so they can have more money to reduce taxes on the billionaires. The average American family is going to pay more for everything — for food, for gas, for cars, for groceries, for clothing, for beer, for you name it. It makes no sense. And the bottom line is that they're not fighting for American families. They're just aiding and abetting what they're doing and making it even worse with the Trump tariff tax. They even decided that they would tax penguins. Because there — two islands are included — I forgot the names of the islands. They're not here. But — Not Greenland. Not Greenland. There are two islands that were included that only have penguins on them. But they were included in the Trump tariff tax. Right. But that shows how haphazard, how sloppy, how careless they are. And one final thing here. This Trump administration is run by a group of billionaires. They're in a billionaire bubble. These billionaires don't have any understanding of what the American family is going through and how much worse it will be with the Trump budget and with the Trump tariff tax. They're just isolated. They don't understand. They're mean. They're nasty. They're uncaring. And we, tonight and tomorrow, are going to show the American people just who they are.

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