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Ron Johnson: “I was not a big fan of the Tax Cut and Jobs act, especially…”

Featuring: Ron Johnson, Republican | U.S. Senate, Wisconsin

Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform

Published January 22, 2025 | Video Starts at 06:33

So I'm actually for a three step process, we can get into that, but that's the first priority. Now, I was not a big fan of the Tax Cut and Jobs act, especially as originally came out of the House. where all they were doing is cutting tax rates for C Corps. 5% of American businesses, 95% of American businesses would have been completely hosed, made very uncompetitive against C … (06:33–06:40)

CLAIM

Asserts opposition to the original version of the Tax Cut and Jobs Act.

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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Ron Johnson

“The tax cut Jobs Act absolutely worked, by the way. We raised more revenue. We paid for it, plus $200 billion in seven years, not 10.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 11:13-11:24
“The tax system costs about $400 billion a year to comply with and that's probably a low ball estimate.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 13:28-13:32
“Tax expenditures are about $1.7 trillion. About in 2024, there was 6% of our GDP.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 16:42-16:51
“The effective rate for both large and small corporations were 21.8%... Now, large corporations have an effective rate of 10.8%, large…”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 19:03-19:18
“Trump is, he puts on, across the board, 20% tariff. You know, theoretically, you can maybe raise a trillion dollars in revenue.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 22:20-22:28
“We were very forewarned that [Trump] was going to be signing a lot of executive orders.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 00:43-00:48
“He's already delivering on the promises he made during the campaign.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 01:05-01:09
“I think they were grotesque miscarriages of justice, you know, as it relates to the January 6th defendants.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 01:40-01:47
“I didn't vote for the bill, the funding bill that [TikTok reprieve] was included in.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 02:20-02:25
“One thing I've learned about President Trump is a, he's a very smart guy. He's got a strategy.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 03:25-03:33
“I do view tariffs as a double edged sword, especially coming from both an agricultural and a manufacturing state.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 03:43-03:52
“Number of nominees needing to be confirmed by the Senate has completely gotten out of hand.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 04:37-04:42
“Recess appointments would be totally appropriate [if Democrats obstruct confirmations].”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 05:13-05:16
“We must avoid, and quite honestly, we ought to let the American public know very early on that there will not be an automatic massive tax…”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 06:18-06:27
“A big failure of the Tax Cut and Jobs Act is you have massive amounts of it expiring automatically in 2026.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 07:08-07:17
“We have to return spending levels to some reasonable pre-pandemic level.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 10:01-10:09
“The eventual tax bill was not that great...massive amounts of it automatically expire.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 13:09-13:18
“In 2019, we spent $4.4 trillion. Covid happened massive spending spree, we spent almost 6.6 trillion.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 15:34-15:43
“Last five years we've averaged $6.5 trillion. This year, last year we spent about 6.9.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 15:56-16:01
“Pass throughs are up in the 20% and they're going to get really hosed if tax cuts expire.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 19:23-19:29
“Tax Cut and Jobs act was $1.5 trillion score now. And, you know, the corporate tax is permanent.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 23:54-24:01
“The other portion of that now they're saying is going to cost 4.6 trillion.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 24:01-24:05
“If you just inflate that using CPI be about 2 trillion.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 24:07-24:12
“We should set it based on current policy. And that if we set on current policy, we can have Senate Finance pass the extension of the, the…”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 24:38-24:50
“We'd be looking at spending somewhere between 5.5 and 6 versus our current $7 trillion.”
Full interview with Sen. Ron Johnson | Playbook The First 100 Days: Tax Reform | Uploaded January 22, 2025 | 25:34-25:40