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Ron Johnson: “The other portion of that now they're saying is going to…”

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 24:01

Tax Cut and Jobs act was $1.5 trillion score now. And, you know, the corporate tax is permanent. So The other portion of that now they're saying is going to cost 4.6 trillion. The whole thing costs, you know, scored at 1.5. If you just inflate that using CPI be about 2 trillion. Where are they getting 4.6. (24:01–24:05)

CLAIM

Asserts that the non-permanent portion of the Tax Cut and Jobs Act is now said to cost $4.6 trillion.

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.”
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“The tax system costs about $400 billion a year to comply with and that's probably a low ball estimate.”
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“Tax expenditures are about $1.7 trillion. About in 2024, there was 6% of our GDP.”
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“The effective rate for both large and small corporations were 21.8%... Now, large corporations have an effective rate of 10.8%, large…”
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“Trump is, he puts on, across the board, 20% tariff. You know, theoretically, you can maybe raise a trillion dollars in revenue.”
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“We were very forewarned that [Trump] was going to be signing a lot of executive orders.”
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“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.”
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“I didn't vote for the bill, the funding bill that [TikTok reprieve] was included in.”
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“One thing I've learned about President Trump is a, he's a very smart guy. He's got a strategy.”
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“I do view tariffs as a double edged sword, especially coming from both an agricultural and a manufacturing state.”
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“Number of nominees needing to be confirmed by the Senate has completely gotten out of hand.”
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“Recess appointments would be totally appropriate [if Democrats obstruct confirmations].”
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“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…”
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“I was not a big fan of the Tax Cut and Jobs act, especially as originally came out of the House.”
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“A big failure of the Tax Cut and Jobs Act is you have massive amounts of it expiring automatically in 2026.”
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“We have to return spending levels to some reasonable pre-pandemic level.”
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“The eventual tax bill was not that great...massive amounts of it automatically expire.”
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“In 2019, we spent $4.4 trillion. Covid happened massive spending spree, we spent almost 6.6 trillion.”
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“Last five years we've averaged $6.5 trillion. This year, last year we spent about 6.9.”
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“Pass throughs are up in the 20% and they're going to get really hosed if tax cuts expire.”
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“Tax Cut and Jobs act was $1.5 trillion score now. And, you know, the corporate tax is permanent.”
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“If you just inflate that using CPI be about 2 trillion.”
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“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…”
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“We'd be looking at spending somewhere between 5.5 and 6 versus our current $7 trillion.”
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