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Ted Cruz: “On December 31, there is a $4.5 trillion tax increase that…”

Featuring: Ted Cruz, Republican | U.S. Senate, Texas

CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211

Published January 13, 2025 | Video Starts at 29:49

And then the Republican says, all right, I don't want to do tax reform, I'm out. And by the way, if we do nothing on tax reform, On December 31, there is a $4.5 trillion tax increase that happens automatically. There is not a Republican in the House or Senate that is willing to vote for a $4.5 trillion tax increase. So we have to get this done. (29:49–29:56)

CLAIM

Asserts that a $4.5 trillion tax increase is set to occur automatically on December 31.

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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Ted Cruz

“We have a mandate from the voters.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 03:35-03:39
“In the Senate, we have a filibuster.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 04:04-04:09
“You need 60 votes to take up major legislation [in the Senate].”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 04:09-04:15
“We have a 53 vote majority of Republicans [in the Senate].”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 04:18-04:22
“You cannot take up major legislation in the Senate unless you get seven Democrats to support us.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 04:21-04:27
“We're going to get it done using something called reconciliation.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 04:41-04:46
“Under budget reconciliation, you only need 50 votes to pass it, not 60.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 05:04-05:10
“The basic idea is that on reconciliation, you can pass things that are budgetary, but you cannot pass things that are policy.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 05:26-05:38
“We can do budgetary things and not policy things [under reconciliation rules].”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 05:26-05:38
“The House has argued for is that we should do one gigantic reconciliation bill.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 05:49-05:58
“We should do a bill that secures the border.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 05:57-06:01
“We should do a bill that rebuilds the military.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 06:00-06:04
“We should do a bill that unleashes American energy.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 06:03-06:07
“We should do a bill that extends the 2017 Trump tax cuts and makes them bigger and bolder.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 06:06-06:14
“Congress needs to appropriate likely $100 billion to build the wall, hire more Border Patrol and ICE agents.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 09:10-09:33
“China is investing in their Navy, and under Joe Biden and the Democrats, they have allowed our investment into our Navy to wither…”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 10:12-10:20
“Chuck Schumer wants to force a government shutdown.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 10:55-11:00
“America is the world's energy superpower. We're the number one producer of oil and gas.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 12:28-12:34
“The Biden administration has been waging war on Texas energy on oil and gas for four years.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 12:33-12:41
“The 2017 Trump tax cuts are expiring this year.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 15:51-15:56
“In the House of Representatives, zero Democrats voted for [the Trump tax cuts in 2017]. In the Senate, zero Democrats voted for them.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 16:02-16:10
“More than 60% of the House was not here when we passed 2017 tax cuts.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 20:16-20:27
“The mandate out of this election was secure the border.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 24:46-24:50
“None of them will vote against border security.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 25:01-25:03
“There will have to be an accommodation for New York and California Republicans [on the SALT issue].”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 25:08-25:16
“In 2017, we eliminated deducting state and local taxes, but allowed a cap of $10,000.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 26:08-26:16
“I think we'll end up eliminating the marriage penalty on the SALT deduction.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 26:50-26:55
“This is the single biggest topic that the Senate and House and President Trump are discussing right now.”
CAPITOL HILL BUDGET BATTLES_ THIS IS HOW WE WIN Verdict EP.211 | Uploaded January 13, 2025 | 28:09-28:16