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John Cornyn: “We need to save the American people a multitrillion dollar…”

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

Cornyn on the Need for Congress to Pass a Budget.

Published January 8, 2025 | Video Starts at 04:00

Frankly, I don't think the process is as important as it is to get the job done. We need to save the American people a multitrillion dollar tax increase, which will occur unless we can renew the expiring provisions of the Tax Cuts and Jobs Act. And as I indicated earlier, we need to deal with our rising debt and our funding for our national security purposes. (04:00–04:11)

CLAIM

Asserts that a multitrillion dollar tax increase will happen unless the Tax Cuts and Jobs Act provisions are renewed.

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

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“President Xi has stated he wants the People's Liberation army to be prepared by 2027 to take Taiwan by whatever means necessary.”
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“President Biden's policies have been a disaster for my state and for the American people.”
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“Texans have been suffering under open borders and high prices for the last four years.”
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“If Republicans fail to act swiftly to extend the expiring tax cuts, 62% of taxpayers will experience a tax increase.”
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“There is still about $700 billion of mandatory spending that the federal government spends each year that is essentially on autopilot.”
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“By simply reducing payment errors for SNAP payments, for example, we could save an estimated $100 billion.”
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“Repeal the controversial 2021 Thrifty Food Plan that would save as much as $300 billion.”
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“By rescinding the remaining unspent Inflation Reduction Act funds that were directed to the IRS, we could save an additional $40 billion.”
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“By repealing Davis Bacon, the Department of Transportation alone could save $400 million.”
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“By reforming the pension system for federal employees to bring the benefit calculation in line with the private sector standard, the…”
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“We could reform the structure of the federal Employee Health Benefit Program and save an additional $18 billion.”
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“These are just some examples of a longer list that could save taxpayers as much as $1 trillion over the next 10 year period.”
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“The child tax credit and the Earned Income Tax credit alone represent $200 billion in spending.”
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“The Congress has been spending away under Democratic majority control and with President Biden in the White House.”
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“Budget reconciliation not only allows us to allocate resources to places like the southern border that have been flat out ignored by the…”
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