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tv   Senate GOP News Conference on Inflation Reduction Act  CSPAN  August 6, 2022 6:09am-6:47am EDT

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at >> now, comments from south carolina republican senator lindsey graham, the top republican on the senate budget committee. he, along with other senate republicans, talk with reporters about his strategy about the debit proposal on taxes, health care, and climate change. this is 30 minutes.
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>> a 40 year high of inflation and a lot of that we know is related to energy. we are here to talk about the specific impact of what the democrats are going to try to do that will increase costs for american families. joe biden is trying to take a victory lap -- lap saying it is not as skyhigh as it was earlier. so much of inflation is related to energy. still two dollars a gallon more than it was when joe biden took office.
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there has been a bit of a decrease in demand because people cannot afford to drive it five dollars a gallon for gasoline. they have had to change the way they live, drive, work. all those things had to be changed. what we hear from folks is the average family has spent over $1500 in the past year for energy higher than they had the year before, all as a result of the policies of joe biden and this administration. people want energy that is affordable, available and reliable. we know the country is looking at the fact we may face blackouts as the summer progresses. around two thirds of the country will be subject to blackouts. that does not seem to stop the democrats who want to raise taxes on american energy, as well as energy we import from overseas. they have in this bill a fee on every barrel of oil imported.
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billions of dollars of increased taxes that will be going to the pain at the pump. this is joe biden who just a year ago at the glasgow hyman summit in scotland -- climate summit in scotland asked vladimir putin to produce more russian oil to send to the united states. iran, venezuela. went hat and hand to saudi arabia seeing send us more. that will all be taxed at a higher rate. taxing every barrel more than ever before. indexed to inflation. at the time when we have 9.1% inflation, joe biden and the democrats want to put taxes going at the rate of inflation, which will make inflation worse. that is what these folks are up to. the pain at the pump will get worse. it is not just on the cost of energy to drive your car. it is the energy to heat your
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home. energy for electricity. joe manchin has agreed. joe manchin, what the heck are you thinking? it has to do with coal. coal associations on the bill. this is from the west virginia coal association. joe manchin's home state. why support anything chuck schumer, joe biden, nancy pelosi or john kerry want for coal? that is what the people are asking joe manchin. why, why, why? it is incomprehensible, they say, by any minor will support the legislation. that is the impact of folks at home that joe manchin is not paying attention to at all. what is the money going to be used for?
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well, there is the climate slush funds. there are the sorts of things that joe biden ought to be familiar with. when he was vice president there was a thing called -- ways to government money. many projects. they will be loaded into this bill as well under the grand title of one big climate slush fund. then there are all these subsidies for electric vehicles. enter reach people. you earn up to $300,000 a year for family, full subsidy. electric vehicle costing $80,000. that is what we're looking at here. at a time when families are hurting, inflation is eating in the people's paychecks, people are concerned about their future. even if wages are going up a little, they are falling
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further and further behind because because have gone up so high. the democrats will make it worse if they are able to pass this reckless spending bill. >> thanks, john. one of the things we continued to plan out, as you know -- senator graham and senator -- asked for information on taxation. inflation numbers came out yesterday. the estimate of what the inflation numbers will be by the cbo. calculated they would be no discernible beneficial impact on inflation as a result of passing this massive tax and spending bill, which the democrats argued is going to reduce inflation. not going to be the case. one of the biggest areas we have seen in inflation is the cost of energy. 40% when it comes to gas and utility services.
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gasoline prices at four dollars a gallon. or higher in places around this country. all the taxes in this bill, much of it will be geared and oriented toward increasing the cost of energy. $60 billion on domestic oil and gas production. if you look at the tax on imported oil included, there are taxes that run through this entire bill all targeting domestic energy production in this country. as i said, taxing import oil as well. what will that be used for? $60 billion for environmental justice grants. what does that mean? the american people are trying to figure this out if and when it passes. $1.9 billion for canopy coverage. canopy coverage in urban areas. i'm sure that is on the hearts and minds of every american. $30 billion in a climate slush fund that can be used for democrat-favorite projects.
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the point is, this is a big tax increase on job creators that will not do anything to address the inflation crisis in this country. and the economic recession we are already in. what it will do is spend a lot of money on things in this country not a priority for the american people when they are experiencing for decade high inflation and gas prices that hurt their pocketbooks on a daily basis. i'm a big supporter of renewable energy. south dakota leads the way when it comes to renewable energy. this is not the way to address an energy crisis in this country. that is to put massive taxes on domestic energy production. the american people deserve better. we will do everything we can to defeat this bill. we will be offering a lot of amendments designed to target the specific areas of the bill. >> america will be like this room. hot.
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so, here is what i think. i think it is more likely the taliban did no sarcasm he was in kabul. why do i say that? it takes a lot of time to keep girls out of school, measure beards and make sure no ankles are so showing on a burqa. the one thing i can tell you about this bill, it will not lower inflation. the same people who said the american rescue plan would rescue you have thrown you back into the water. we are raising gas taxes in the name of lowering inflation. he goes to saudi arabia to beg them to produce more foreign oil. the response in this bill is to introduce a new tax on imported oil. in 1995 when i first came up here, one of the first things republicans did was repeal the exxon stacks on foreign imported oil.
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-- import tax on foreign imported oil. it comes back from the dead. now it is at 16.4. not only did they bring back attacks on oil -- a tax on oil, it is higher than it was in 1995. tell me how that lowers gas prices. you don't have to believe me or any of us. the congressional budget office, the gold standard according to senator manchin, has said in 2022, negligible effect on inflation and 2023 it could go up or down, inflation, by 0.1%. that is the cbo. joe -- who are we going to believe? the people who looked at this with the same people that brought you the american rescue plan? i would say this to my democratic colleagues. thank you for holding the line on the senate filibuster.
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thank you for doing some things to make america less radical place. but you are going to be held accountable by your voters on this issue. the democratic party has one play, tax and spend. show me a group of democrats in any room in america and they are thinking about ways to increase your taxes and spend your money. it is not working. i would conclude on the foreign policy front, the biden administration is dumb and weak. they are undercutting a bill to help taiwan more because they don't want to provoke china. we withdrew from afghanistan less than a year ago. now we know the leader of al qaeda was staying in a house owned by the number two guy in the taliban government. we have a border that is secure. i say it is incredibly broken. the bottom line is we live in
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dangerous times economically and foreign policy wise. every policy choice they are making, they delayed helping ukraine before the invasion, they delayed sanctions on putin because i did not want to be provocative, they are trying to back me down because they don't want to provoke china. when it comes to domestic difficulties, they are passing a bill that will make it less likely people will invest in factories and equipment. the 15% minimum tax according to cbo this incentivizes investment -- disi -- this disincentivizes investment. we are in a recession and this will make it worse. to senator manchin, they are supposed to pay you back on the
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continuing resolution. you were supposed to get some things on permitting reform that maybe i will like. you were supposed to get some special deal for some pipeline in west virginia on the continuing resolution to fund the government. i will not vote for a continuing resolution that is part of a political payback scheme. i will come up with ideas for south carolina to help our energy needs. if you put my provision on the cr, i will vote for yours. every senator should come up with provisions that would help their state and ask our democratic friends when it comes to the continuing resolution let all boats rise. if they will not do that, we should have a continuing resolution that is clean. senator manchin, if you think you are going to get 60 votes to get the sweeteners that cannot be done in reconciliation, you need to think long and hard about what you are doing.
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>> senator graham put me down as a no on the continuing resolution as well. i think i am i no on it now. it is in the dna of democrats to tax and spend. absolutely in their dna. i believe the people of kansas have been talking to the people in the state of wyoming. when i go back home the people i am closest to, my family, my friends, my high school classmates, they put their faith in their hands and they asked me what the hell is joe biden doing. what the hell is joe biden doing? then they asked tougher questions. why does he insist on throwing gasoline on this inflation fire? why does he want to destroy our jobs? i think we all realize this raising taxes on corporations will destroy manufacturing jobs. let's take this home.
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wichita, kansas is the aerospace capital the world. we make small jets, small airplanes. across the state we have a lot of agriculture manufacturing companies that make tractors and trailers up in marysville. the best specialty trailer in the world they make. they will lose jobs because of this tax. why does joe biden want to drive prices up and the gas higher and utilities go up? why does he want to destroy this economy? they asked me a tough question. why would we give special tax breaks to one industry, the chip industry, but then we drive other companies out of business? it is so hypocritical. i don't have answers to these questions. i do have an assessment. joe biden is reactionary. his administration is reactionary. whether it is national security or economic policy, he is never
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proactive. he creates a crisis and then solves it with more crises. it is a compounding of stupid decisions. here is one. they will double the number of irs agents. they will double the number of irs agents. i want everyone to pay their fair share of taxes, but who will feel the brunt is small businesses and hard-working americans. this is what happens. when you get an audit, you will spend 5000 to $10,000 to defend that audit. assuming that you win. that's a very small business. you will spend $20,000 to $30,000 to defend that audit. how does that help our economy? here is one.i want to talk about prescription drugs. how did they think taking money from suppose that medicare savings and using it to subsidize wealthy americans
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with aca plans is fair? if you're taking money, should not go back to medicare? don't we have a medicare solvency problem? how asinine of a thought process do we have here? why do they want to destroy the innovations farming has given us and saved millions of lives? let's talk about hepatitis c. when we were in medical school, it was a death sentence. hepatitis c was a death sentence. you would spend a million dollars on every patient going in and out of the icu if we could find a liver for them. it was a $500,000 transplant. 10 years ago we had the first hepatitis c drug. seven years ago? my gosh. $80,000. i don't know what it was worth -- 18 years ago, and $80,000
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drug. you would take it for eight weeks and it would avoid the $1 million of expenditure. here today we have competition. there is competition in the market. the drug prices are a fraction of this. take on alzheimer's for a second. this nation spends $300 billion a year on alzheimer's. you want me to drive the health care expense for this country down? we can't do it through tax and spend policies. it will take american innovation from pharma. i cannot drive the cost of caring for patients down unless we have a miracle drug. the legislation they have before us will delay or not altogether stop that innovation, that drug that maybe be three or 10 years away. i would challenge any press person in the audience, talk to some venture capital people now to invest in pharma. i am talking to them and they are telling me they are shutting down. they are not going to invest in
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high risk innovation if there is not an opportunity. there is something. i want to drive prescription drug prices down. we know how to do that. there's an op-ed today on fox news about driving the prescription drug prices down. one final point on that. the list prices are going less than inflation in the last several years. the out-of-pocket prices are going up. i would love to discuss that at another press conference. thank you so much. >> thank you, roger. i'm a former -- i consider myself a former hepatology. you study liver disease. when my constituents talk about inflation, they said the president should liver real people live. the prescription for high fuel prices is driving electric
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vehicle, they have no understanding of the lives of represent. folks don't try 15 euro pickup trucks because they don't want a new car. they can't afford a new car. high gas prices have made it even worse. high utility prices, high grocery prices. inflation has hit them. when the title comes out, the inflation reduction act, everyone is encouraged. the wharton school of business says it increases inflation and a couple of years. the cbo says it has a negligible effect one way or the other on inflation. bottom line, it does not decrease inflation. i go back to that inflation state we are in. the american rescue plan passed on a partisan basis, i call that the american recession plan. this could be the american recession plan 2.0. people will not have the income by which to pay that which they
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have to buy. why do i say that? 50% of the book value tax is on manufacturers. we are in an international jobs war. countries around the world, particularly china are subsidizing manufacturers to move there and subsidize them in a variety of ways. i would love to be pure free market let's get government out of everything. we are losing the jobs war. congress all we are losing the jobs were in began getting credits, like we did in the chips bill, her manufacturers to return. -- for manufacturers to return. the left says we have increase manufacturing jobs. they will take care of that which congress used to incentivize them to come back and hire more americans, but we don't like that. we will make them pay more. the national association of manufacturers says it will kill
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200,000 jobs in the u.s. cbo says it will decrease investment in manufacturing. if you want to lose the manufacturing war, this is what you do. if you want to win, you don't do it. republicans want to win that and it shows democrats wish to lose. one more thing. the climate impact. the bill says they are going to reduce emissions by 40%. what they don't tell you, and this has not been independently verified. it is more like 35%. what they don't tell you is we have already reduce emissions by 17%. we are halfway to their goal. under current law, we are scheduled to reduce emissions to 44% by 2030. we are almost there. the improvement is marginal. we are only speaking about u.s. emissions, not global emissions.
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since initially they will be driving manufacturing in asia, particularly china, to reduce batteries -- produce batteries and things to come here for ev's, emissions will get worse. if they wanted to tout benefits, they should come clean as to what their analysis is and why they are not including the increased emissions that will occur in other countries because of this policy. there is more we can talk about. yes, ma'am? >> some democrats say republicans should vote on this if they care about deficit reduction. what republicans support the package if it did not have any new government spending and just addressed deficit reduction? >> let me point out that they said it will reduce by $200 billion. our economy -- that's about 1.2%
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of the gdp every year. they will reduce that over 10 years. it will be less than a fraction of the .04% of our nation's gdp. if things go perfectly. this will be a total rounding error. that is what they are using to justify. if that is their strongest argument, it is a weak argument. >> do you think democrats truly care about reducing the deficit or is this a way to justify billions in new government spending for things they want? >> i don't think they are care and they are trying to get a fig leaf to justify billions in new spending. >> this is an important question. the deficit saving estimate is down to $100 billion over a 10-year period. the gimmicks were exposed and
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that is why they lost manchin. build back better cost $1.7 trillion. if you took all the gimmicks out, if you made the child tax credit for 10 years and not two years, about every new program they introduce was limited to two or three years, which was a lie, over 10 years the actual cost was $5.9 trillion. when it came to adding to the deficit, they said it was $238 billion. the deficit when almost a $3 trillion. in this bill there is a gimmick. they have a limit on the obamacare subsidies. the subsidy in this bill goes to families of four making $300,000. if they take money from daycare to subsidize a family making $300,000, that goes away in three years. it is not going to go away.
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if you play it out over 10 years, this adds to the deficit. >> can you walk your voting strategy? >> i will let him do that. >> where do you see any real effort? >> here is where i met. i vote for gun legislation thinking we ought to do some things to keep guns out of the hands of unstable people. a lot of people on my site did not agree but it made sense to me. i voted for the infrastructure bill. build back better was a disaster. you voted for it, right? i have tried to work with them where i can. i voted for the chips bill. it was more expensive than it should have been because we should make chips here. you make a good point. before the ink is dry, they dropped this. it will be like hell.
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they deserve this. as much as i admire joe manchin and thank him for standing up to the radical left at times, they are empowering legislation that will make the average person's life more difficult at a time they cannot afford higher gas taxes, at a time we create jobs it will be harder because incentives are gone. i am hoping we can come up with proposals that will make sense and they will abandon this jihad they are on the tax and spend. i will turn it over to john now. joe manchin, you have a game plan that counts on something you need to think long and hard about. >> i don't have a lot to add to that. these folks are going to be hard votes for the democrats. i think the question for both joe manchin and kyrsten sinema is, if any of these amendments
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succeed at the end will you vote for the wraparound amendment? they both said they will not vote after they felt like they voted for a wraparound amendment and they were misled by their leadership and they would never vote for one of those again. if we have some success with these amendments through this process, we will be targeting certain areas of the bill. the question is at the end are those amendments going to be an immense that may change the bill, make it better? it might the pass in the house. i think we expected the democrats to fall in. as has been pointed out by my colleagues here, when democrats have power they will raise taxes, spend money and grow government. that is what they do. they did that last year. they will try to do it again right now.
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we are obviously going to make it. >> there's a redline you feel they have crossed? when it comes down to these two senators it sounds like they crossed you personally. do use the word "jihad." >> the american rescue plan took a functioning ship and put you on a lifeboat. to the point i'm trying to make to my colleagues, we work well together on things that makes sense. you are the same people that told us the american rescue plan would save us all. it gave us a 40-year high in inflation and recession. i admire you at times and i oppose you now. i think what you are doing is you are empowering the most radical people in this country
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to tax and spend when they can ill afford it. you are making it harder to get out of the recession we are in. you will increase gas prices. they need to be held accountable and i intend to do that. >> all of you have said we are in a recession. the labor department said in july we had half a million jobs. the unappointed rate at 3.5%. how was that consistent with the economy being in a recession right now? >> the definition of a recession is two negative gdp growth in two successive orders. we have strong job growth. the housing market is beginning to decline sharply. realtor state interest rates are having an incredible impact. by the way, when we speak of jobs we are not talking about government bureaucrats. some have been commuting since the pandemic started -- zooming
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from home since the pandemic started. this bill goes after manufacturing. we have spoke about half of these taxes going to manufacturing. the cbo says that will decrease investment in new manufacturing facilities. construction will also go down. i'm pleased we have strong job growth but we are in a recession. the americans who rely upon americans who are most susceptible to the jobs apparently democrats are trying to lose for us, we will lose those. >> if a republican was in charge, you would not be asking that question. we wouldn't be in a recession. there is a common theme. we have the lowest illegal crossings in december right after the election of 2020 in history.
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we have the highest with no end in sight. the taliban were not in charge when trump left. they are in charge today. contracto -- contrary to what the taliban says they were working with al qaeda. you have the highest gas prices may and forever. you have a 40-year inflation spike. you think this is an accident? do you think they are really unlucky? the policies are not working and they are doubling down on policies that don't work. go to south carolina and tell somebody this is not a recessionary economy. if you are able-bodied and you don't have a job in south carolina, i can get you one by midnight. people cannot find workers. >> a point on the recession. recession is when i go back home and the community bankers say what is going on? business is slowing down. why are people afraid to invest? when the energy sector says we
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are afraid to invest money because of your president's policies. when folks i know that invest money for a living, when they want to grow jobs, my natural network i have spent the last 25 years with where entrepreneurs. people that love the business of doing business. they are scared to death to invest under this current environment. >> i want to get a quick reaction to president biden's statement touting the jobs report in the economic plan saying it was boosting the middle class. >> is always good when people are working. in the numbers this morning the labor force participation rate had dropped, which is a concern. if you talk to families, they are having a harder time keeping up. even if they are working where they got a raise, the right has not kept up with the cost of inflation.
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families in this country are falling further and further behind and it is harder and harder to just keep up with where they were when he became president of the united states. >> are there any specific topics or amendments you think could put democrats in a tough spot? >> energy, inflation, the border, crime. expect to see an immense on all of those things. thank you for being here. >> thank you. [crowd tal >> c-span's washington journal, everyday we are taking calls live on the air, on the news of the day, and discussing policy
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issues that impact you. coming up this morning, a washington times reporter discusses his podcast. then michael harriet and christina greer, who each have podcasts on the podcast network, talk about their podcast focusing on black history, and culture and politics. >> watch c-span's "washington journal" live at 7:00 a.m. eastern on c-span, or c-span now, our mobile app. join the discussion with your phone calls, facebook comments, text messages, and tweets. >> an update on the democrats' taxes, health care, and climate change bill, known as the "inflation reduction act." senator schumer said they will begin work later on it today with a vote.
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the weekend is expected for both on unlimited amendments. all votes, including final passage, only require a simple majority. meanwhile, majority leader hoyer has put leaders on notice that the house will be called back into session friday, august 12 to consider the bill if the senate completes its work. read the congressional budget office analysis of the democrats' plan at and follow the senate live on c-span 2 or with c-span now, our free video app. >> remarks now from senate jordi chuck schumer during a briefing on capitol hill -- majority leader chuck schumer during a briefing on a vote on climate change come inflation, energy costs, and taxes. the leader said he secures the last vote after negotiating with


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