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John Cornyn: “If the President's tax cuts are not extended, the American…”

Featuring: John Cornyn, Republican | U.S. Senate, Texas

Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech

Published June 2, 2025 | Video Starts at 13:35

And we all share on this side of the aisle the same goal of implementing President Trump's agenda. And he's certainly going to be encouraging us to get this done. So failure is not an option. If the President's tax cuts are not extended, the American people will face the largest tax increase in American history. 62% of Americans will see a tax increase in, in 2026. And working parents will see the child tax credit cut in half. (13:35–13:43)

CLAIM

Asserts the potential impact of not extending the President's tax cuts.

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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John Cornyn

“Bidenomics... resulted in 20% increase in, in the cost of everything because of runaway inflation.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 00:23-00:32
“We are now spending more money on interest on the national debt than we are to defend our nation.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 03:38-03:45
“Moody's, which recently downgraded its rating of US credit from AAA to AA1.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 06:28-06:36
“More than 62% of able-bodied adults who receive Medicaid benefits do not work at all.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 10:41-10:55
“By 2024, that [fraction of working-age men out of the labor force] had increased to 22%.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 11:28-11:33
“62% of Americans will see a tax increase in 2026.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 13:42-13:49
“The average family of four in Texas or Alabama, anywhere else in the country that earns eighty thousand dollars will face a seventeen…”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 13:54-14:06
“The House did what it was supposed to do by passing President Trump's big, beautiful bill.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 00:05-00:12
“This is the way we're going to prevent a multi trillion dollar tax increase on the American people.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 00:12-00:32
“They [Moody's] pointed to our national debt, especially our growing entitlement spending, as a reason to lower our credit rating.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 00:20-06:45
“The budget resolution... has instructed both the House and the Senate committees to spend money... to bolster our defense and border…”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 02:18-02:41
“We have approaching $37 trillion in debt.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 03:23-03:28
“The federal government spends roughly $6.7 trillion a year.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 05:52-05:58
“Implementing work requirements for able-bodied adults in our means-tested programs is nothing new.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 08:57-09:05
“The US federal government spends about a trillion dollars a year on means-tested programs.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 10:26-10:42
“Between 1960 and 2023, the fraction of working-age men who were out of the labor force increased from about 3% to 11%.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 11:12-11:40
“Our national debt now in excess of $36 trillion.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 12:01-12:07
“Working parents will see the child tax credit cut in half.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 13:48-13:54
“Back home in Texas, my constituents should see their taxes increase on average $3,000 next year.”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 14:28-14:36
“Especially our small businesses that have depended on the 2017 tax cuts and Jobs act to hire more staff, to purchase equipment that they…”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 14:50-15:08
“All of these small businesses, which are the primary job creating engine in America, would be hurt and would suffer increased costs and have…”
Senator John Cornyn Advocates for Tax Cuts and Fiscal Responsibility in Senate Speech | Uploaded June 2, 2025 | 15:08-15:22