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Gavin Newsom: “By definition, that substantially increases the problem.”

Featuring: Gavin Newsom, Democratic | Governor of California

And, This is Steve Bannon | This is Gavin Newsom

Published March 12, 2025 | Video Starts at 54:01

But Steve, that's why this tax cuts, extending the tax cuts, it's reckless in this respect. I don't agree with that. I think if you want to have. Governor, where By definition, that substantially increases the problem. You want to have a shot. If you want to have a shot to get the three and a half, four percent growth, you got to have a supply side tax cut. (54:01–54:05)

CLAIM

Asserts that extending tax cuts substantially increases a problem, likely referring to the deficit or debt.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Gavin Newsom

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“Another $8.4 trillion went to the debt under [the] Trump administration.”
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“That's $1.3 billion small ball, but it's symbolic and subsidy. What about the $3 billion in oil gas subsidies?”
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“I say that as governor of the largest manufacturing state in America, a state that has more corporate headquarters... than any other state…”
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“You've been pretty critical about the proposed tax, the extension of the existing tax cuts that disproportionately favor the wealthiest.”
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“His current proposal doesn't add up then in that respect blows the deficit and continues those corporate tax cuts and continues the tax cuts…”
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“It's 3 trillion even before COVID hit.”
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“Moderate the income taxes for middle class working folks.”
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“We doubled another 25% back to aluminum steel.”
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“On tariff policy, it seems a little chaotic. There's no stability. The markets are reflecting that.”
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“It had nothing to do with the tyrannical nature of a Prime Minister or 51st Governor of America, Justin Trudeau's policies.”
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“You mean with all the uncertainty, the market uncertainty, the Trump slump, all of the stress and the anxiety that people are feeling.”
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“The industrial policies of the Biden administration, as it relates to the infrastructure bill, aspects of the IRA, aspects of the Chips and…”
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“There was record investments in coming back during the [Biden administration].”
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“Why does [President Trump] go after the carried interest? Why is he going after corporate subsidies?”
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“California did [create this market]. It was our regulatory process and our subsidies to create this market.”
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“He's been the beneficiary of billions and billions and billions of dollars.”
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“That's why this tax cuts, extending the tax cuts, it's reckless in this respect.”
And, This is Steve Bannon | This is Gavin Newsom | Uploaded March 12, 2025 | 53:52-53:56
“You want to see it increased on corporations in the 1%.”
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“I don't know what more evidence you guys need of Mother Nature's fury than we've had in the last year.”
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