Mike Johnson: “Fraud costs $4,000 per American household every year.”

“Loses as much as $500 billion in federal funds every year. A half a trillion dollars is burned up, wasted because fraudsters and scammers are involved. That's Fraud costs $4,000 per American household every year. totally wasted. We could use that money so much better. Why does this matter? Because fraud is an invisible tax. What that does is it weakens the buying power of every American tax dollar.” (03:53–03:59)

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.