House Budget Chair Yarmuth: $3.5T ‘Is Pretty Inconsequential,’ ‘Gov’t Can Afford Anything’

RUSH TRANSCRIPT BURNETT And ░░░░░░░░ let s go to ░░░░░░░░ congressman John Yarmuth he ░░░░░░░░ the chair of the ░░░░░░░░ Budget Committee His committee ░░░░░░░░ already passed its initial ░░░░░░░░ of the 3 5 ░░░░░░░░ spending bill Chairman I ░░░░░░░░ your time Moderate Democratic ░░░░░░░░ Josh Gottheimer was on ░░░░░░░░ moments ago and I ░░░░░░░░ you have a lot ░░░░░░░░ on you may not ░░░░░░░░ seen what he had ░░░░░░░░ say Okay so I ░░░░░░░░ just tell you What ░░░░░░░░ said was quote he ░░░░░░░░ 1 000 certain that ░░░░░░░░ bipartisan infrastructure bill will ░░░░░░░░ the House tonight Are ░░░░░░░░ YARMUTH Nope I can ░░░░░░░░ say that I agree ░░░░░░░░ Josh I think it ░░░░░░░░ pretty much a long ░░░░░░░░ to pass it tonight ░░░░░░░░ it comes for a ░░░░░░░░ I ll vote for ░░░░░░░░ I think it s ░░░░░░░░ good piece of legislation ░░░░░░░░ I take every piece ░░░░░░░░ legislation individually and I ░░░░░░░░ support it even though ░░░░░░░░ m a progressive and ░░░░░░░░ m strongly committed to ░░░░░░░░ sure that the Build ░░░░░░░░ Better Act is enacted ░░░░░░░░ law So we ll ░░░░░░░░ I have plenty of ░░░░░░░░ bourbon around so I ░░░░░░░░ fortify myself for the ░░░░░░░░ but this deadline tonight ░░░░░░░░ I know everybody wants ░░░░░░░░ make this a dramatic ░░░░░░░░ but it really doesn ░░░░░░░░ mean much We have ░░░░░░░░ of time to do ░░░░░░░░ of these bills We ░░░░░░░░ pass them next week ░░░░░░░░ could pass them in ░░░░░░░░ We could pass them ░░░░░░░░ December We could pass ░░░░░░░░ in January And I ░░░░░░░░ the conventional wisdom is ░░░░░░░░ the longer you go ░░░░░░░░ more difficult it gets ░░░░░░░░ I think one of ░░░░░░░░ things that we have ░░░░░░░░ a mistake at is ░░░░░░░░ ve kind of lost ░░░░░░░░ narrative focusing on dollar ░░░░░░░░ instead of exactly what ░░░░░░░░ initiatives in these programs ░░░░░░░░ mean for the American ░░░░░░░░ We need to do ░░░░░░░░ better job of that ░░░░░░░░ All right Well and ░░░░░░░░ hear you on that ░░░░░░░░ of all Secondly I ░░░░░░░░ it s important just ░░░░░░░░ emphasize here that you ░░░░░░░░ you would be a ░░░░░░░░ because you look at ░░░░░░░░ individually Obviously there s ░░░░░░░░ in your caucus who ░░░░░░░░ know are categorical that ░░░░░░░░ don t see it ░░░░░░░░ way and I know ░░░░░░░░ s why you re ░░░░░░░░ sure it will pass ░░░░░░░░ here s the thing ░░░░░░░░ committee did recently pass ░░░░░░░░ own version the 3 ░░░░░░░░ trillion spending plan YARMUTH ░░░░░░░░ BURNETT I don t ░░░░░░░░ to make it all ░░░░░░░░ the numbers but some ░░░░░░░░ your caucus are I ░░░░░░░░ you heard the Chairman ░░░░░░░░ the Caucus Pramila Jayapal ░░░░░░░░ Well I said 3 ░░░░░░░░ trillion and that s ░░░░░░░░ it is and I ░░░░░░░░ not going to negotiate ░░░░░░░░ myself But Joe Manchin ░░░░░░░░ making it clear 1 ░░░░░░░░ 1 5 and that ░░░░░░░░ it Knowing that he ░░░░░░░░ saying that are you ░░░░░░░░ with that YARMUTH Well ░░░░░░░░ I m okay with ░░░░░░░░ taking advantage of the ░░░░░░░░ We have to do ░░░░░░░░ incredibly important for the ░░░░░░░░ people and we re ░░░░░░░░ going to have this ░░░░░░░░ very often So the ░░░░░░░░ itself is meaningless I ░░░░░░░░ I read Joe Manchin ░░░░░░░░ I ve listened to ░░░░░░░░ he has no understanding ░░░░░░░░ how the federal government ░░░░░░░░ system works When he ░░░░░░░░ it yesterday to his ░░░░░░░░ income that has no ░░░░░░░░ to what we can ░░░░░░░░ It s not a ░░░░░░░░ of what we can ░░░░░░░░ The federal government can ░░░░░░░░ anything that it feels ░░░░░░░░ needs to do and ░░░░░░░░ now that s what ░░░░░░░░ ought to be focused ░░░░░░░░ So that s kind ░░░░░░░░ the position I took ░░░░░░░░ the Budget Committee that ░░░░░░░░ the position I will ░░░░░░░░ going forward The shame ░░░░░░░░ that we have an ░░░░░░░░ party the Republican Party ░░░░░░░░ doesn t think the ░░░░░░░░ government has any obligation ░░░░░░░░ do anything about providing ░░░░░░░░ early childhood education paid ░░░░░░░░ and medical leave any ░░░░░░░░ the things that are ░░░░░░░░ the Build Back Better ░░░░░░░░ If they re not ░░░░░░░░ to recognize that these ░░░░░░░░ national responsibilities then we ░░░░░░░░ to act alone and ░░░░░░░░ puts us in this ░░░░░░░░ very convoluted process called ░░░░░░░░ that has basically opened ░░░░░░░░ up to all this ░░░░░░░░ BURNETT So there s ░░░░░░░░ couple other things I ░░░░░░░░ to ask you First ░░░░░░░░ want to ask you ░░░░░░░░ Schumer Obviously Politico obtained ░░░░░░░░ document that shows that ░░░░░░░░ July 28th Sen Schumer ░░░░░░░░ off on Sen Manchin ░░░░░░░░ parameters for a 1 ░░░░░░░░ trillion spending bill It ░░░░░░░░ signed by both of ░░░░░░░░ Manchin signed it Schumer ░░░░░░░░ it and it mentions ░░░░░░░░ like need base testing ░░░░░░░░ testing for example for ░░░░░░░░ child tax credit It ░░░░░░░░ no additional handouts or ░░░░░░░░ payments and it does ░░░░░░░░ the ordinary income rate ░░░░░░░░ tax rate that puts ░░░░░░░░ to 25 But I ░░░░░░░░ the question here that ░░░░░░░░ have is that Schumer ░░░░░░░░ he never agreed to ░░░░░░░░ conditions but his signature ░░░░░░░░ there okay He didn ░░░░░░░░ not read it and ░░░░░░░░ sign it How do ░░░░░░░░ feel about this This ░░░░░░░░ July 28th YARMUTH Well ░░░░░░░░ of all I don ░░░░░░░░ think Chuck Schumer can ░░░░░░░░ away policy for 49 ░░░░░░░░ members of the Democratic ░░░░░░░░ in the Senate I ░░░░░░░░ all he thought he ░░░░░░░░ signing was acknowledging that ░░░░░░░░ is what Joe Manchin ░░░░░░░░ position was But again ░░░░░░░░ can t bind the ░░░░░░░░ percent of the Democrats ░░░░░░░░ the Senate to that ░░░░░░░░ position And so to ░░░░░░░░ that s kind of ░░░░░░░░ of these documents that ░░░░░░░░ meaningless BURNETT And just ░░░░░░░░ final thing I got ░░░░░░░░ ask you you said ░░░░░░░░ federal government can do ░░░░░░░░ it wants to do ░░░░░░░░ mean it can so ░░░░░░░░ as people are willing ░░░░░░░░ lend to the United ░░░░░░░░ money at low rates ░░░░░░░░ okay you will be ░░░░░░░░ that they have done ░░░░░░░░ a lot longer than ░░░░░░░░ lot of people thought ░░░░░░░░ they would do But ░░░░░░░░ does raise the question ░░░░░░░░ mean putting aside a ░░░░░░░░ questions you just can ░░░░░░░░ get the taxes that ░░░░░░░░ have in this bill ░░░░░░░░ your own number the ░░░░░░░░ for a Responsible Federal ░░░░░░░░ looking at the Ways ░░░░░░░░ Means Committee s numbers ░░░░░░░░ on the 3 5 ░░░░░░░░ dollar bill they say ░░░░░░░░ re going to borrow ░░░░░░░░ 4 trillion They also ░░░░░░░░ that the real cost ░░░░░░░░ the bills since things ░░░░░░░░ the child tax credit ░░░░░░░░ not going to go ░░░░░░░░ in three years they ░░░░░░░░ going to become permanent ░░░░░░░░ s your goal I ░░░░░░░░ would be 5 5 ░░░░░░░░ So then that s ░░░░░░░░ 4 trillion that you ░░░░░░░░ borrowing That is a ░░░░░░░░ of money Are you ░░░░░░░░ comfortable with that YARMUTH ░░░░░░░░ is it s 3 ░░░░░░░░ trillion over 10 years ░░░░░░░░ re going to spend ░░░░░░░░ as much during that ░░░░░░░░ on defense If you ░░░░░░░░ the entire add up ░░░░░░░░ of the things we ░░░░░░░░ proposing to do it ░░░░░░░░ be essentially about 5 ░░░░░░░░ more than we will ░░░░░░░░ otherwise We re going ░░░░░░░░ spend 61 trillion over ░░░░░░░░ next 10 years So ░░░░░░░░ add another 3 4 ░░░░░░░░ or 5 trillion to ░░░░░░░░ is very I think ░░░░░░░░ s pretty inconsequential when ░░░░░░░░ consider all the benefits ░░░░░░░░ the American people And ░░░░░░░░ are benefits that will ░░░░░░░░ for decades BURNETT Right ░░░░░░░░ I hear you It ░░░░░░░░ an interesting conversation I ░░░░░░░░ love to continue talking ░░░░░░░░ it because I hear ░░░░░░░░ you re saying and ░░░░░░░░ also hear there s ░░░░░░░░ little three here and ░░░░░░░░ s a little three ░░░░░░░░ and pretty soon you ░░░░░░░░ talking real money YARMUTH ░░░░░░░░ about real money BURNETT ░░░░░░░░ All right Well I ░░░░░░░░ your time Chairman thank ░░░░░░░░ so much YARMUTH You ░░░░░░░░ My pleasure BURNETT All ░░░░░░░░