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John Thune: “If we don't act, Americans making less than $400,000 will…”

Featuring: John Thune, Republican | Senate Majority Leader, South Dakota

John Thune on Permanent Tax Relief and National Security Investments

Published May 7, 2025 | Video Starts at 00:27

… rapidly moving toward final bill Text and Senate Republicans held hours of great discussions today to hammer out a number of details. Mr. President, the issue before us is simple. If we don't act, Americans making less than $400,000 will face a $2.6 trillion tax hike. Next year, 2.6 trillion small businesses will face a $600 billion tax hike. Republicans do not intend to let that happen. (00:27–00:36)

CLAIM

Asserts that without action, Americans earning under $400,000 will face a $2.6 trillion tax increase.

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 Thune

“Next year, 2.6 trillion small businesses will face a $600 billion tax hike.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 00:35-00:44
“Making the small business section 199A deduction permanent would result in the creation of an additional 1.2 million jobs annually.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 01:33-01:43
“The Tax foundation reports that long run GDP would increase by a substantial 1.1%.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 01:47-01:54
“We are committed to not only extending the lower individual rates we passed in 2017, but to making them permanent.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 01:15-01:22
“President Trump has already made tremendous progress on securing the border and deporting criminals here illegally.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 02:39-02:44
“The final bill that we pass will include a transformational investment in securing our borders.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 02:50-02:57
“We'll also make a transformational investment in our military readiness to address deficiencies.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 03:06-03:11
“We will implement policies to unleash American energy production to ensure a secure, stable and affordable energy supply.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 03:17-03:26
“We will take a hard look at how we spend taxpayer dollars and implement savings measures.”
John Thune on Permanent Tax Relief and National Security Investments | Uploaded May 7, 2025 | 03:27-03:34