House Democratic leaders—Vice Chair Ted Lieu and others—accuse Trump’s policies of worsening inflation ($310 higher grocery costs by 2025), spiking unemployment (1M+ layoffs in 2024), and weaponizing ICE, citing 37% approval ratings and "horrific" detentions, while blocking DHS funding without reforms. Republicans, led by Speaker Mike Johnson, counter with claims of border security (2.6M deported), economic growth ($18T investments), and tax cuts averaging $4K refunds, including a $6K senior deduction and 20% small business deductions, while framing Trump’s global agenda—from Greenland to Ethiopia’s GERD—as stabilizing Western civilization against China and Russia. Johnson’s bipartisan housing event contrasts with von der Leyen’s Davos warning that Trump’s tariffs risk Arctic security, as Europe pushes $90B Ukraine aid and AI-driven defense spending to 800B euros by 2030, underscoring a clash between protectionism and geopolitical unity. [Automatically generated summary]
My family and the families of those who are watching, it'd be safe to be able to go to lunch and dinner and go to church and do that in a way that is safe and they feel secure.
You know, I think the other really important piece here, too, is that those criminals coming across our border, again, with just a porous open border under Biden that the Trump administration has fixed, but those folks are using safety net resources that should be going to Americans.
In 2025, American families paid $310 more on groceries and $1,625 more overall compared to 2024, thanks to Donald Trump's tariffs.
On top of that, more than a million people were laid off last year, the most since the 2020 pandemic, making it even harder for Americans to find good-paying jobs to make ends meet.
And their signature achievement and their signature legislative accomplishment, what Republicans tout all the time, was the single largest cut to health care in our nation's history, all in order to give corporations already making record profits additional money and permanent tax cuts.
One year in, the American people want to know when Donald Trump will finally put their needs first.
And I wish we could say that the worst was behind us.
But in this Trump cruel and chaotic administration, they have continued to double and triple down on the policies that are wrecking this economy and hurting hardworking families.
Even as Donald Trump focuses his attention on other countries, Republicans here at home have the opportunity to do something.
They have an opportunity to lower costs that people face, and they continue to choose not to.
Before the Senate right now is an extension of the Affordable Care Act, tax credits.
Millions of families rely on this for their health care, and will see their premiums skyrocket and have seen their premiums skyrocket as a result of Republican inaction.
I am pleased that he did say at Davos that he would not use military force to acquire Greenland.
And that's because any order from the president to invade Greenland without congressional authorization would be in legal order.
I also had the opportunity to go to Minnesota for the Democratic hearing on their abuses of ICE.
And we heard from local law enforcement, we heard from nonprofit organizations, we heard from ordinary Americans, and some of their stories are horrific.
ICE has been engaging in what appear to be clear violations of federal law.
We heard that there was a detention center where they have an entire section marked U.S. citizens.
The American people have the First Amendment right to observe ICE operations.
The American people have the First Amendment right to peacefully photograph ICE operations.
The American people have the First Amendment right to peacefully film and live stream ICE operations.
Donald Trump has sent ICE across the country to try to intimidate people and communities and various states, and the people of Minnesota said no, we're not going to take it.
Thank you, Mr. Chair. Paul, that the DHS approach bill was a major discussion point in caucus this morning.
Did you come away with the sense that the caucus has reached a consensus on where members will be on the bill over our leadership's position that members will vote, their conscience, vote their district?
Members will are always, the responsibility is to always vote your district.
But what we heard from caucus was a presentation from Rosa DeLoro, ranking member of the full committee of appropriations, as well as ranking member Henry Fueyar, the subcommittee ranking member.
I can appreciate some of the work that went into the bill, some of the additional pieces that they were able to place in bill language.
I also understand that with a continuing resolution, the ICE would likely have more flexibility.
But what we heard overwhelmingly was our members, and in the last 24 hours, we've heard our members speak loudly that ICE isn't doing enough.
These reforms aren't enough.
Their lawlessness has to stop.
And they are only doing this because they can.
They're only doing this because the President of the United States wants to use them to terrorize communities, to terrorize U.S. citizens, as the Vice Chair heard directly last week in Minneapolis-St. Paul, to scare people.
There are kids throughout this nation who are not going to school because they're afraid.
They're afraid that they're going to get picked up.
They're afraid that their family member who is taking them to school will be picked up.
That's just wrong.
There aren't enough guardrails within this bill.
I can still appreciate the work that went into the bill while mentioning that common sense reforms that Democrats put up as amendments and alternatives were roundly rejected.
They should not be allowed to detain U.S. citizens, and they are.
They should not be able to fire at moving vehicles unless their life is in danger, and they are.
That's wrong.
The caucus has concerns about it, and I don't think we're going to have true accountability until Democrats are in charge.
Our Republican colleagues don't seem willing or able right now to offer the level of oversight and critique of that agency that also, by the way, funds things that we support.
TSA, FEMA, those are important, that's important work that the federal government does.
It's unfortunate that the behavior of ICE is jeopardizing the Homeland Security Bill.
unidentified
I know you were just speaking on behalf of the caucus, but have you figured out your position on the bill yet?
I shared with the caucus this morning, and the leadership team has shared with the caucus that we'll be voting no, unless there are any substantive changes or amendments in the rules committee.
We now have the extraordinary actions of local law enforcement holding press conferences and issuing statements and doing interviews criticizing ICE.
So let me read you what Hennepin County Sheriff Dewana Witt said.
Quote, I am seeing and hearing about people in Hennepin County stopped, questioned, and harassed solely because of the color of their skin, Witt said.
We cannot let people in our communities think that our local law enforcement leadership is okay with actions that are not only wrong, but illegal.
Brooklyn Park Police Chief Mark Brully in a press conference said, in an attempt to record the incident, the phone was knocked out of her hands, preventing her from recording it.
The officers had their guns drawn, and after the officer became so concerned, they were forced to identify themselves as a Brooklyn Park police officer.
So now you have ICE agents going ahead and taking illegal actions against local law enforcement officers.
And the American people know ICE is out of control because motor polls now show that ICE is underwater.
Their approval and disapproval ratings have flipped since the beginning of this year.
And so we ask ICE and the Department of Homeland Security, you need to follow the law.
unidentified
And if you don't want your officers at more risk, they need to follow the law.
Christians?
Yeah, you mentioned Greenland.
The president has threatened European and NATO allies with tariffs, unless Denmark gives up Greenland, including my own country Norway.
I don't know if it's going to be an issue within these bills.
Democrats will offer amendments and language to help strengthen this alliance with our European friends and our NAT allies.
We'll see if Republicans are serious about pushing back against the Trump administration to accept this language.
They have not accepted language specific to Greenland in the past.
We may have more opportunities to make our voices heard, but right now we want our Republican colleagues to also speak up and to use their voices and to say that they don't support the President's effort to go after and potentially attack a NATO ally.
As the Vice Chair mentioned, he said, Trump said this morning that he wouldn't use force, but that still does not eliminate the threat that our Greenlander friends face.
And so that's a concern for all of us.
It should be a concern for all Americans that Donald Trump wants to prioritize Greenland and Venezuela over them.
He continues to ignore the concerns that Americans have by focusing on these shiny objects that distract him.
It's wrong.
It hurts the American people.
And it hurts from our efforts to truly lower costs that people face.
unidentified
Mac?
Thank you.
Jack Smith will be testifying before the House Oversight Committee tomorrow.
There's a lot of back and forth with Chairman Jordan.
It was going to be public or private, but now will be a public hearing tomorrow.
What do you expect to hear from Jack Smith at all?
Well, I hope we hear as much of the truth that Jack Smith can share, although I think he is bound by some orders that the court has given upon his final report.
That's unfortunate.
He should be allowed to share the full details, but to the extent that he can share information that hasn't been in the public realm, I think everybody should welcome that.
It's an oversight hearing, and our responsibility to provide oversight, even though the president doesn't want it, is very real.
And so I appreciate that the committee is doing this work, and there will be more oversight to come when Democrats control the gavels next year.
I'm thrilled the Republican chairman is having Jack Smith testify publicly because Jack Smith is going to tell the American people all the evidence that he has collected against Donald Trump and why Donald Trump was lawfully indicted and why Donald Trump violated federal law.
unidentified
And the American people are going to hear that.
And I encourage everyone to watch.
Thank you.
Just to clarify on the DHS bill, you had said that you had told the caucus that leadership is going to be a no on it.
Would you be whipping against it or will you be letting members make our own decision?
Other members of leadership also spoke and indicated that they were a no unless there were substantive changes.
I'm not the Democratic whip.
Catherine Clark gets to decide that, but we shared our feelings with the caucus.
I look forward to vote tomorrow.
And if there are members who have questions, they know how to find Henry Cueyar and Rosa DeLoro.
I would imagine that there will be more conversations on the floor.
But ultimately, I imagine that members will vote their districts and they will judge the bill on the substance.
Thankfully, to Rosa Deloro's leadership, this is a bill that is kind of standalone and you don't have to worry about it being part of defense or transportation housing or the labor health bill.
This is truly on its own merits on an up or down vote and we'll see where Democrats land.
But our encouragement to our colleagues is that this bill doesn't do enough.
unidentified
Thank you, Mr. Chair.
A recent CBS news poll found that voters say they trust Republicans more than Democrats on immigration by 10 points.
Are you at all concerned that Democrats are making the wrong decision in opposing this DHS funding bill, especially when the Republican Party has the advantage on immigration in some of these polls?
If we're judging on polls, then I think Republicans are going to feel the sting.
I think Donald Trump's rating on immigration, you cited one poll, there's other polls that show him 10 points underwater on this topic, 20 points underwater on the economy.
If we're judging by polls alone, then I think Republicans have a problem based on the last 366 days that we've been here.
And Donald Trump's ratings and Republicans support, the Republican rating on these topics continues to crater.
So I think the American people are seeing this and they're judging it and they're saying we've had enough.
And so I think that's a better question for the Republican conference as to whether they're going to change any of their behavior based on where the public is.
I think you see the answer when 17 Republicans support our health care initiative on the floor.
Republicans are pushing back against their own leadership because they know they continue to lose on this issue, because they know they are underwater on health care with the American people.
They are losing traction on immigration.
They are losing traction.
They're underwater on the economy, which was the strength of the president's election.
All of these issues, the American people are feeling this.
And by the way, the American people don't like, look at the poll, look at the crosstabs, they don't like what they're seeing out of ICE.
Nobody objected to detaining and deporting violent criminals.
We said as Democratic leaders that we supported policies to do that.
This is not that.
This is rounding up people, scaring people, terrorizing communities.
That's what this is about.
And that's what Donald Trump continues to do.
And the American people will have an opportunity to exercise their First Amendment rights in their communities.
And they will have an opportunity to push back against these Republican policies this November, if not sooner.
What we do know is, as the chairman said, poll after poll shows that the Trump administration is underwater on immigration.
We know that the president is underwater by 10 points on immigration, according to a recent poll.
Specific to ICE, two polls were released earlier this month.
One had ICE at approval of only 37%, disapproval of 57%.
CNN released a poll showing that 51% of American people believe ICE operations are making American cities less safe.
Only 31% believe it's making American cities more safe.
The reason you have the result you saw is because it turns out when you look at the crosstabs, Democrats are not as unified behind Democrats in terms of immigration.
They actually want to see Democrats do far more on immigration.
And that's why you're seeing those results, not because the overall majority of people don't see that ICE is out of control.
And a recent poll that came out showed that 71% of the American people, according to you, Gov and The Economists, believe the country is out of control.
And Donald Trump is at historic lows of only 37% approval.
unidentified
That's what the facts show.
Eric?
Can you talk about the appropriations process more broadly and the other mini-buffs?
Do you feel like in the end of the day, Doge has been rebuffed?
And do you have any confidence that Russell Vote and others will actually spend money on cancer research and other things you put in this?
I mean, before they could point to those were Biden-era bills.
We're not bound by those.
This is now law that will be signed by the President of the United States, presumably.
And Republican Senate and House adding language that restricts OMB, that offers more guardrails.
So OMB reports to Congress, the actual spend levels that they're undertaking, that they aren't setting a path for a reduction in NIH grants, as you mentioned, by playing gimmicks with multi-year funding.
Those pieces will all now be law.
And so I give credit to Rosa DeLoro.
If the administration wants to continue to be lawless, if Russ Vote wants to continue to not follow the law, there isn't language we could carve to require him to do that.
What we are doing is working in a bipartisan way to find consensus and to add language that asserts our ability to govern spending here.
But I can't help but also say, I mean, this is exactly where Democrats told Tom Cole and our Republican colleagues we would end up.
Seven months ago, in those appropriations meetings, we said, these bills, this language, these funding levels, they aren't going to fly.
Work with us.
Let's find a bipartisan solution.
And seven months later, we're here.
I wish that we would have used our time more effectively rather than partisan riders that Republicans carried forward in appropriations.
But now we have, in most cases, workable bills.
unidentified
On the issue of affordability, as you can imagine, Republican legislators speak ad nauseum about the benefits that tax cuts have brought from the big, beautiful bill.
Do you have any response to that and how you've been talking, you and other Democratic legislators have been speaking about how Donald Trump's presidency has been costing Americans money?
Well, the data, I mean, just like look at the data.
What they are reacting to was getting their butt kicked in elections in November where Democratic candidates, I was at the swearing in of our former colleague, Abigail Spanberger, who became the governor of the Commonwealth of Virginia.
Democratic candidates around the country, not just New Jersey and Virginia, but in the South, in Georgia, in Mississippi, had electoral success because they were talking about real issues.
They were talking about affordability.
They were talking about making life easier for people.
And Republicans see that.
And so now they react.
But the American people also understand exactly what happened.
This is the policy of Donald Trump that they have supported by not pushing back on tariffs.
It is only going to get worse when all of the health care cuts and the nutrition cuts come into place around this country.
It is going to be hurtful to the American public.
They are going to have a tougher time finding health care, finding affordable health care for them and their families as a result of the big, ugly bill.
And so we're confident that when people fill out their taxes this year, as well as when they use some of these amazing programs, that they're going to see this and they're going to have an ability to exercise their opinion later in November.
unidentified
Going back to Greenland, earlier today, Speaker Johnson was in here and he said that thus far he does not believe Trump has exceeded his authority when it comes to tariffs.
If he does impose tariffs against NATO allies, is there anything the minority can do in either chamber to reel in the executive branch?
As Speaker Johnson said, he doesn't feel the need to.
Well, I mean, ultimately, you know, the Speaker controls the functions of the House floor.
I'm uncertain some days whether Donald Trump is the Speaker or Mike Johnson is the Speaker, but whoever it is controls what happens on the floor.
That includes offering privilege resolutions when it comes to use of military force, as well as privilege resolutions pushing back against the tariffs.
All of these are tools that we can use in the minority.
You also saw us use tools, and we were successful three times in the end of the year on discharge petitions.
So those are the limited tools that the minority has.
We look forward to working in a bipartisan way as we have been and as our track record shows to push back for the American people and to get wins where we can if it helps lower costs and make people's lives better.
There are no more caravans barreling through our borders.
And all of that, it's over.
We don't even talk about the border anymore because President Trump fixed it.
It's solved.
It's done.
And we have President Trump to thank for that.
So the border is solved.
Now let's move on to the economy, right?
Under Biden, just some facts, Biden's inflation peaked at 9.1%.
Under the Biden, under Biden, the government was spending your money recklessly.
Turn the page now to President Trump's inflation.
It is down to about 2.7%.
9 to 2.7%.
Inflation coming down.
Thank you, President Trump.
We're seeing the first overall prices decline since 2020.
The costs of eggs, butter, cereal, and pasta, because I'm Italian for Sunday dinner, are down.
And of course, it isn't just prices that are coming down.
Paychecks are actually going up.
The Working Families Tax Cut was transformational legislation.
No tax on tips, no tax on overtime, no tax on Social Security for 88% of seniors.
A tax break when you buy an American car.
A tax break on your mortgage.
A tax break when you grow your family.
Name the life event.
And Republicans delivered a tax break.
And you know what?
And I'll say it again: every single Democrat voted against a tax cut.
Every single Democrat voted to raise your taxes.
Every single Democrat voted to raise your taxes because Democrats think that they and the government are better stewards of your money than the American people.
Every single Democrat voted to eliminate taxes on tips, taxes on overtime, and taxes on Social Security.
Every single Democrat voted against the child tax care credit.
And I have to say it because I have to go out there and correct the truth with the other half of the truth.
Every single Democrat voted against giving a 15% tax cut to families who make under $100,000, right?
It's shameful.
I mean, seriously, but I'll tell you this: our momentum won't be stopped by their unwillingness to stand up for the American people.
Our momentum won't be stopped by the radical left or their paid protesters.
Our momentum is just beginning.
The golden age of America, folks, we are just getting started.
And with that, I'm going to turn it over to our whip, Tom Emmer.
As we stand here 366 days later, it's incredible to think back on the historic wins we have achieved in such a short amount of time.
From passing the largest tax cut in American history to securing the border, to rooting out the worst waste, fraud, and abuse that has plagued our government for way too long, to making America the crypto capital of the world.
President Trump, his all-star cabinet, and Republicans in Congress have worked in tandem to accomplish the impossible.
We've seen what great lengths the Democrats are willing to go to oppose our agenda at every turn.
Look no further than last October, when the Democrats invoked the longest government shutdown in our history, inflicting the maximum amount of pain on the American people just to pick a fight with Donald Trump.
Or look at blue state governors like failing Tim Walz, who would rather let criminal, illegal aliens roam our communities than work with the Trump administration to enforce the rule of law and keep Minnesotans safe.
But in spite of the Democrats' insanity, we continue to overcome the odds and deliver on our promises to the American people.
This country is stronger, safer, and more prosperous thanks to President Trump's leadership.
And as he said in his inaugural address one year ago, this is only the beginning.
The golden age of America is here, and we're just getting started.
After we celebrated one year, President Trump back in office, it is exciting to say America is coming back.
And you can see the signs all around us.
All of the indicators that for four years under Joe Biden, Democrats seemed to want to quickly forget.
Democrats never talked for a day while four years your gas prices soared.
Democrats never said a word about it when for four years under Joe Biden, inflation skyrocketed.
Democrats never said a word when four years under Joe Biden, you saw interest rates going through the roof where it finally prevented people from even buying a first-time home.
How many families did you hear about that said, I want to move and buy another house, but I can't afford to leave my existing house because I can't afford the new high interest rates on the mortgage because of Joe Biden's rates.
Over and over and over again, you're seeing it all across the spectrum.
And then, of course, the open border.
Millions of people coming into our country illegally, including violent criminals.
And what did Democrats do?
looked the other way, never said a word about it.
Lake and Riley Act, we had to tell Joe Biden who Lake and Riley was because he wanted to ignore the fact that real people were dying here in America because illegals who were coming in that were violent, hardened criminals were harming our citizens, and they did nothing about it.
And then Donald Trump ran for president.
And Donald Trump said, I will fix these things.
And the American people listened.
Well, the Democrats just wake up every day wanting to resist, wanting to block the Trump agenda, and that's all they care about.
Donald Trump has been delivering on those promises, and the American people appreciate it.
Families now today have thousands of dollars more in their pockets because they're paying 50% less for gasoline.
That's right.
When you go to the pump today, you don't have the sticker shock you did under four years of Joe Biden because you're paying dramatically less.
Some people in the twos, $3 a gallon or less because President Trump opened up American energy.
In fact, lease sales are up 55%.
Joe Biden had shut down American energy production, making us dependent on foreign nations.
Russia, Vladimir Putin, was the biggest beneficiary of Biden's bad energy policies.
Putin was making billions of dollars a month selling his oil to world markets, including our European friends, because they couldn't get it from America.
Iran, making billions of dollars a month selling their energy, fueling a war machine that was invoking terror all around the world.
Not only do they not have that money anymore because we've opened up American energy, Iran no longer has the pathway to a nuclear weapon because President Trump is restoring peace around the world.
And we've worked with President Trump to rebuild a strong military to stand up to the bad guys.
Sadly, there are still bad guys around the world.
Go look at China.
Go look at Russia.
Go look at Iran.
Our friends appreciate that.
All of our allies around the world, the president's in Davos right now, making the case for why it's so important for America to finally be back on the world stage, where we can protect our allies.
If you look at interest rates finally coming down, we want to keep that progress, by the way.
We say, let's keep going because Biden did so much damage that even though it's down, it's not down to pre-Biden levels, but it's finally heading in the right direction.
Inflation, because we've gotten control over spending, inflation's finally coming down again.
Investment into America.
People actually want to build things and create jobs in America again.
$18 trillion of investment has been announced in the last year of plants, big manufacturing facilities coming back to America.
That's only the first year of President Trump working with a Republican Congress delivering for the American people.
That's what it looks like.
And this week's no different.
We're bringing more bills to continue to get this country back on track.
Four more appropriations bills, which will mean all 12, all 12 of the bills that fund the government and set new priorities.
And oh, by the way, lower spending.
You used to wonder under Biden how much more is government going to spend than they did the year before.
This year we'll actually be spending less than the year before.
So controlling spending while getting the country back on track.
Billions in regulations that add to the cost that everything buys are finally eliminated where red tape in Washington is being cut.
We're moving a Congressional Review Act this week, Pete Starber's bill, that finally allows us to develop the critical minerals that are here in the United States so we don't have to get them from China.
So, one after another, we're continuing to take steps to make America great again, to bring back that golden age that our Whip was talking about, and leading that effort live from British Parliament, I guess you could say, because he just dazzled the British Parliament, first speaker, I think, ever. to speak before our dear ally in Europe, Great Britain's Parliament, which is real true honor, something that should also be written about.
We had the profound honor and privilege to be the first American Speaker of the House to address the British Parliament, and it was a good day there.
My counterpart, Speaker Lindsey Hoyle there in the House of Commons, invited me back in the fall to come and do that.
And the idea was that we would sort of launch in an historic manner our America 250 celebration in the cradle of democracy where it all began.
And it was surreal in that regard.
And I noted yesterday the special relationship that really does exist between our two nations and has.
That relationship really grew and flourished and was forged in the great wars of the 20th century.
And we have stood together because we have a common history and heritage, I reminded them, and one that gave rise to the greatest, most free, most successful, most powerful, most benevolent civilization that the world has ever known.
And that is what Western civilization represents.
And I talked with our friends there about the necessity of us standing together to defend the foundations of Western civilization because the West is imperiled today, and those foundations are endangered because there are rising powers like China and Russia.
And that is one of the things we have to keep in mind as we do all of our work.
So that was a little history yesterday, but the real history is being made here this week.
And what do I mean by that?
Well, you've heard referenced that appropriations are on track.
And for the third consecutive week now, House Republicans are going to advance another set, the final set of the FY26 appropriations bills.
This week you'll see Defense, Homeland, Transportation, and Labor HHS.
These bills are going to fund the Trump agenda and Republican efforts to restore peace through strength, to defend our borders, and to deport criminal illegal aliens, to rebuild America's infrastructure, and to make America healthy again.
All laudable goals and things that we promised and things we're delivering on.
This is our final batch of appropriations bills for the fiscal year.
There were a lot of people, and I think many in this room, that argued that this could not be done, that a regular appropriations process is a thing of the past.
And, you know, it's been a couple decades since this has happened.
Critics said our margins were too slim to bring it back, to rebuild that muscle memory that I committed to when I became Speaker.
And they said we had too many bills left to pass and too many disagreements left to reconcile.
But I'm happy to report that all of those prognostications were flat wrong, and we've gotten it done.
And the most significant sign of progress in these halls in years, House Republicans are restoring regular order.
And it's important to the people that we represent because this is the only way to have good fiscal sanity and responsibility and stewardship over taxpayer dollars is to return to regular order.
We're returning the appropriations process to a committee-led, member-driven approach, as it should be.
We should not have the four corners, the top four leaders in the House and Senate in a back room, making pages and pages of decisions for the country.
That's not the way it was supposed to work.
And I've been doggedly determined to make sure that didn't happen.
And this time it did not.
Together, all 12 individual appropriations bills will provide full-year government funding without unrelated policy provisions.
They will spend less than another continuing resolution, and it will continue to advance our America First agenda.
Once we pass the final batch this week, Republicans will have finally replaced the last of any Biden-era spending levels with Trump-era spending levels.
We've turned that page and we are not turning back.
Now, let's talk about the other big thing that will be happening.
It's on the minds of everyone in the next week or so as tax season begins.
Will Rogers, the famous actor and writer from Oklahoma whose statue stands outside the House chamber where we all meet to do our interviews with you, he once observed this.
He said, quote, the only difference between death and taxes is that death doesn't get any worse every time Congress meets.
For most of our history, his observation held true, which is why everybody kind of laughs at that, but it's not true anymore.
Republicans have simplified the tax code.
We have reduced the tax burden on families.
We've advanced a policy agenda that puts working families first.
And the proof is in the pudding, as we say.
Next Monday, January 26th, tax season officially begins in America.
And for many people, it's a dreaded time.
It's a moment that they don't celebrate.
But this year, there's going to be lots of happy surprises.
Thanks to our Working Families Tax Cut, tens of millions of American families are going to see bigger paychecks.
They're going to see bigger tax refunds.
And let me give you a couple of numbers real quick.
$4,000.
That's the value of the average tax refund for Americans this year.
$100 billion.
That's the estimated total of 2025 tax refunds for families.
$10,000, the average increase in annual take-home pay for working families.
Think of it: $10,000 is the average across the country.
15%, the average tax cut for families earning between $15,000 and $80,000 annually.
How did we do that?
We reduced federal taxes.
We made permanent the doubled standard deduction.
We instituted a $6,000 deduction for seniors, which will affect more than 50 million of them.
We included no tax on tips, no tax on overtime.
We boosted the child tax credit.
We made permanent the paid leave tax credit.
We expanded FSAs.
We increased the adoption tax credit.
And those are just provisions for families.
For business and industry, the tax season will be a boost to their bottom lines and their ability to grow and add more jobs and expand facilities, et cetera.
Our agenda supports Main Street over Wall Street.
And we did that by making a 20% small business deduction permanent, doubling small business expensing to $2.5 million, providing child care tax credits to businesses, reducing paperwork burdens by increasing the 1099 reporting threshold, expanded opportunity zones with more than $100 billion in new investments in rural distressed areas, and we raised the death tax exemption for family farms.
That's a lot of great policy, pro-growth policy that the American people are going to see the great benefit of.
We also included full expensing for new factories and domestic manufacturing improvements, full expensing for domestic research and development, 100% expensing for new capital investments in the U.S., no taxes on car loan interest for U.S. assembled vehicles, and the elimination of the de minimis exception for low-value commercial imports.
Great policies, some things that we had been needing to do for a long time.
And we got all that in the one big, beautiful bill, the Working Families Tax Cut.
We wrote that legislation for small business owners, the job creators in this country, and we wrote it and geared it for lower and middle-class families.
You know how the Democrats always say, oh, the Republicans only favor the billionaires.
It's a joke.
Go look at the facts.
And everybody's going to see that.
This was written for lower and middle-class hardworking families in America.
And they're going to benefit from that.
And they're going to know who did it.
As our chair reminded you about five times this morning, the Democrats voted against every bit of this.
They voted to raise taxes, and they voted against all this great policy.
The very people who suffered the most during the Biden years were lower and middle-class families, and we are going to correct that.
And all boats are going to rise.
And that's why we're so excited about the year ahead, not just because of celebration of the two-and-a-half century mark for the country, and not just because we have a faithful election season, what we are very bullish about, because of the record we're going to run on, but because everybody is going to be feeling the positive effects of that.
And man, do the American people need it.
I've just scratched the surface here on what our families, working families' tax cuts, will achieve.
So over the weeks and months ahead, House Republicans will continue to promote the transformational opportunities and conservative victories that this legislation delivers for everybody.
And we're really excited about that.
With that, I'll take a few questions.
unidentified
Mr. Speaker, because you just returned from Europe, the President has threatened tariffs on European allies who are opposing his plans in Denmark and Greenland.
I really would ask you, Mr. President, to continue paying your attention and care, your attention and care for this file so that the plan should be implemented fully.
We are very happy to be on the Board of Peace, and we are supporting and very happy to be there, backing up every effort that can bring about peace in our part of the world and globally as well.
I'd like also to thank Mr. President for your support us in an existential issue.
And this is the GERD Grand Renaissance Stand and the River Nile.
And also here, in other words, in front of the officials, that the president of this meeting was in the first meeting, and he wanted to provide the meeting to the meeting of this meeting.
Friday, on C-SPAN's Ceasefire, at a time when finding common ground matters most in Washington, Republican Nebraska Congressman Mike Flood and Democratic Missouri Congressman Emmanuel Cleaver come together for a conversation on the top issues facing Congress, including their bipartisan push on housing affordability.
Watch C-SPIRE, Friday at 7 p.m. and 10 p.m. Eastern and Pacific, only on C-SPIRE.
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Europe's Savings and Investment Union00:15:34
unidentified
European Commission President Ursula von der Leyen talked about President Trump's efforts to acquire Greenland during remarks at the World Economic Forum in Davos, Switzerland.
She said Donald Trump's introduction of tariffs to pressure Europe into accepting his demand was a mistake, and that security in the Arctic could only be achieved when the U.S. and Europe worked together.
President Brenda, dear Borger, thank you very much for the warm welcome.
Your Majesty's Excellencies, Ladies and Gentlemen.
Indeed, it is now 56 years since the first meeting here in Davos.
And the idea of the founder, Klaus Schwab, was to create a platform to discuss the issues and the ideas of the day.
Of course, the world has transformed completely since 1971.
But the original idea of Davos has remained, as we just have heard in the speeches.
So I was delighted that you have gone back to your roots with this year's theme, a spirit of dialogue.
Because this spirit is all the more important in a world that is more fractured and more fractious than ever.
1971 was the year of the so-called Nixon shock and the decision to de-link the US dollar from gold.
In an instant, the foundations of the Bretton Woods system and the entire global economic order set up after the war effectively collapsed.
But it also had two major effects.
It inadvertently created the conditions for what would become a truly global order and it provided a sharp lesson for Europe and on the need to strengthen its economic and political power.
It was a warning to reduce our dependencies, in this case on a foreign currency.
The world may be very different today, without any question, but I believe the lesson is very much the same.
That geopolitical shocks can and must serve as an opportunity for Europe.
And in my view, the seismic change we are going through today is an opportunity, in fact, a necessity, to build a new form of European independence.
And this need is neither new nor a reaction to recent events.
It has been a structural imperative for far longer.
So when I used this term, European independence, around a year ago, I was surprised at the skeptical reactions.
But less than one year on, there's now a real consensus around this.
The sheer speed and almost unthinkable scale of the change have driven this, but the underlying imperative is still the same.
The good news is we acted immediately.
Whether on energy or raw materials, defense or digital, we're moving fast.
But the truth is also that we will only be able to capitalize on this opportunity if we recognize that this change is permanent.
Of course, nostalgia is part of our human story, but nostalgia will not bring back the old order.
And playing for time and hoping for things to revert soon will not fix the structural dependencies we have.
So my point is, if this change is permanent, then Europe must change permanently too.
It is time to seize this opportunity and build a new independent Europe.
And ladies and gentlemen, this new Europe is already emerging.
On Saturday, I was in Asuncion in Paraguay to sign the EU-Mercosur trade agreement.
It was a breakthrough after 25 years of negotiations.
And with it, the European Union and Latin America have created the largest free trade zone in the world, a market worth over 20% of global GDP.
31 countries with over 700 million consumers aligned with the Paris Agreement.
So this agreement sends a powerful message to the world that we are choosing fair trade over tariffs, partnership over isolation, sustainability over exploitation, and that we are serious about de-risking our economies and diversifying our supply chains.
And that will not stop in Latin America.
Last year we reached new agreements with Mexico, Indonesia and Switzerland, our host country.
We're working on a new free trade agreement with Australia.
We are also advancing with the Philippines, Thailand, Malaysia, the United Arab Emirates, and more.
And right after Davos, the next weekend, I will travel to India.
There's still work to do, but we are on the cusp of a historic trade agreement.
Indeed, some call it the mother of all deals.
One that would create a market of two billion people, accounting for almost a quarter of global GDP.
And crucially, that would provide a first-mover advantage for Europe with one of the world's fastest growing and most dynamic continents.
Europe wants to do business with the growth centers of today and the economic powerhouses of this century, from Latin America to the Indo-Pacific and far beyond.
Europe will always choose the world, and the world is ready to choose Europe.
And ladies and gentlemen, this reality also reflects the fact that Europe has all the assets it needs to attract investment.
The savings, the skills, the innovation with our AI factories and gigafactories and the applications that are necessary, AI first.
What we need now is to mobilize collectively these assets to their full potential and to focus on the essential.
So focal point number one is to create a conducive and predictable regulatory environment.
We live in an age where capital and data can cross Europe in a second and business must be able to move just as freely.
But as things stand, too many companies have to look abroad to grow and scale up, partly because they face the new set of rules every time they expand into a new member state.
So while on paper the market is of 450 million Europeans open to them, it is far more complicated in reality.
And that acts as a handbrake on the growth and profit potential of companies.
So this is why we need a new approach.
We will soon put forward our 28th regime.
The ultimate aim is to create a new, truly European company structure.
We call it EU Inc. with a single and simple set of rules that will apply seamlessly over our Union so that businesses can operate across member states much more easily.
Our entrepreneurs, the innovative companies, will be able to register a company in any Member State within 48 hours, fully online.
They will enjoy the same capital regime all across the European Union.
And ultimately, we need a system where the companies can do business and raise financing seamlessly across Europe just as easily as in uniform markets like the United States or China.
If we get this right and if we move fast enough, this will not only help EU companies grow, but it will attract investment from across the world.
Which brings me to the second focus: investment and capital.
We are now building the savings and investment union.
We need a large-scale, deep, and liquid capital market that attracts a wide range of investors.
And this will allow business to find the funding they need, including equity, at lower costs here in Europe.
We have made proposals on market integration and supervision to ensure our financial market is more integrated.
This covers trading, post-trading, and asset management, as well as driving innovation and making our supervisory framework more efficient.
This will help ensure that capital flows where it is needed to scale-ups, to SMEs, to innovation, to industry.
And the third priority is to build an interconnected and affordable energy market, a true energy union.
Energy is a choke point for both companies and households.
And just look at the dispersion of prices across European electricity hubs.
Europe needs an energy blueprint that pulls together all the part.
This is our affordable energy action plan.
We are, for example, massively investing in our energy security and independence with interconnectors and grids.
This is for homegrown energies that we are trying to promote as much as possible, the nuclear and the renewables, to bring down prices and cut dependencies, to put an end to price volatility, manipulation, and supply shocks.
But now we have to speed up this transition because homegrown, reliable, resilient, and cheaper energy will drive our economic growth and deliver for Europeans and secure our independence.
Ladies and gentlemen, whether on trade or business, capital or energy, Europe needs an urgency mindset.
Our starting point is good.
We're home to global champions in fields ranging from wind power to next generation batteries, from aerospace to the industrial machines that are essential to build the chips and advanced weapons.
Our companies are taking up AI at the same pace as their US peers.
Europe is in the race for the key technologies of tomorrow.
But as global competition gets ruthless, we must show real ambition, especially in those sectors vital for our independence.
Take defence, for example.
We have done more on defence in the last year than in decades before.
We have started a surge in defence spending up to 800 billion euros till 2030.
Member States are stepping up their investment at record level, and this has helped to triple the market value of European defence industry companies since January 2022.
We now have three leading European defence tech startups that have reached unicorn valuation.
They are working on AI-powered software and systems for battlefield intelligence or on advanced dual-use and surveillance drones.
So they are also driving innovation and investment in Europe's defence tech industrial base.
All of this would have been unthinkable even a few years ago.
This now only shows how the economy and national security are more linked than ever.
But also what we can do when Europeans have the will to match the ambition.
So, ladies and gentlemen, this need for ambition is most important when it comes to the security of our continent.
In just over a month, we will mark the fourth anniversary of Russia's war of aggression against Ukraine.
Four years on, Russia shows no sign of abating, no sign of remorse, no sign of seeking peace.