Balance of Power – "GOP Senators Float Health Plan"
Bloomberg Podcast | December 9, 2025
Hosts: Joe Mathieu, Kailey Leinz
Notable Guests: Tyler Kendall (Bloomberg), Tanya Fajon (Slovenian Minister of Foreign/EU Affairs), Steve Ellis (Taxpayers for Common Sense), Ashley Davis (Republican Strategist), Rick Davis, Jeannie Shan Zaino, Senator Pete Ricketts (R-NE)
Episode Overview
This episode centers on the political showdown over health care and affordability as President Trump heads to Pennsylvania to tout his economic agenda amid flagging public sentiment. The conversation covers Republican efforts to counter the Democratic push for extending Affordable Care Act (ACA) subsidies, the latest Trump administration policy proposals to address affordability, ongoing Ukraine diplomacy, and the political calculus as both parties contend with looming midterms and contentious legislative deadlines.
Key Discussion Points & Insights
1. President Trump Hits the Road on Affordability Messaging
Segment Start: 00:56
- President Trump travels to Pennsylvania—the playbook city for “kitchen table” economics—in an effort reminiscent of past Biden administration tours.
- Trump touts his economic record and dismisses the term "affordability" as a "Democrat con job."
- Despite official data showing mixed results, the president claims:
- "Prices are coming down substantially." (01:57)
Notable Quote
“A plus plus plus plus plus… The word affordability. I inherited a mess. I inherited a total mess. Prices were at an all-time high when I came in.”
– President Trump, (01:47)
2. Public Sentiment & Economic Reality
Segment Start: 02:37
Guest: Tyler Kendall (Bloomberg Washington Correspondent)
- Harris Poll for Bloomberg (October): 55% of employed Americans fear job loss.
- Consumer sentiment is inching up but remains near historic lows.
- The White House aims to recapture the narrative with new policies (e.g., DOJ investigation into price gouging, relief for farmers), but public skepticism lingers.
3. GOP Health Plan vs. Democratic ACA Extension
Segment Start: 05:29
- Republicans are pushing back against the Democratic plan for a three-year, “clean” extension of enhanced ACA subsidies.
- Senator Bill Cassidy and Senator Mike Crapo are proposing increased flexibility in Health Savings Accounts (HSAs) and seeking broader reforms like allowing insurance purchases across state lines.
- The administration is still debating whether to extend ACA tax credits or pursue new policy mechanisms (e.g., “tariff rebate revenue checks”).
Notable Quote
“We know that it's something that very likely is going to need Congress's approval. …That could really come to a head for this president as we head into the end of the year—is health care.”
– Tyler Kendall, (04:52)
4. Congressional Stalemate and Political Calculus
Segment Start: 06:37, 27:19, 44:52
- Democrats are forcing a Thursday vote on their health care proposal.
- Republicans scramble for a counterproposal, with multiple plans in play but no consensus.
- Some GOP senators, like Josh Hawley, publicly press for action, worrying about appearances if the party fails to present a plan.
Ashley Davis (Republican Strategist) weighs in:
“There’s going to be something significant that has to happen in the next three months… Republicans at least in the Senate this week need to show something. And getting around one, one answer is going to be very difficult over the next 48 hours.” (28:59)
5. Farmer Bailout & Tariff Policy
Segment Start: 22:15
Guest: Steve Ellis (Taxpayers for Common Sense)
- Debate over Trump’s new $12 billion farm bailout, funded by tariff revenue.
- Trump proposes that tariffs could one day replace income tax—a claim robustly disputed by Ellis:
- “There's no remote possibility that we could raise enough tariff revenue without totally crashing the economy to get to the $2.66 trillion that the income tax raised in 2025.” (19:52)
- Tariff impacts, inefficiency, and consumer cost pass-through are discussed.
- Ongoing pattern of bailouts for the agriculture sector, with skepticism about long-term effectiveness.
Memorable Quotes
“We're going to be making a dividend to the people… I believe that at some point in the not too distant future, you won't even have income tax to pay...”
– President Trump, (19:04)
"It is effectively a tax on all our consumers and it's a very inefficient tax as well."
– Steve Ellis, (21:38)
6. Ukraine Peace Plan and U.S.-European Alliance
Segment Start: 07:37, 09:16
Guest: Tanya Fajon (Slovenian Foreign Minister)
- Trump’s administration pressures Ukraine’s Zelensky to accept a peace proposal seen as potentially favorable to Russia.
- EU allies urge any peace to respect Ukraine’s sovereignty.
- Europe feels sidelined and warns that hasty peace would undermine long-term security.
Notable Quotes
“We do have to all do more. And I encourage diplomacy to work…and especially Ukraine, because Ukraine is deciding about its own future. We speak about territorial sovereignty and integrity. No one by force can change the internationally recognized borders.”
– Tanya Fajon, (11:09)
7. Roundtable: Messaging, Electoral Stakes, and the “Bubble” Effect
Segment Start: 31:48
Panel: Rick Davis, Jeannie Shan Zaino (Bloomberg Political Contributors)
- Trump must “thread the needle” between economic optimism and voter anxiety.
- Both parties have struggled to sell voters on economic progress amid persistent affordability concerns.
- Midterm context: Trump and Republicans risk losing the House if messaging on affordability and health care misses the mark.
Insightful Exchange
“We don't grade ourselves… in this case it's the American voter.”
– Jeannie Shan Zaino, (36:10)
“Donald Trump is the cheerleader in chief of the United States of America and our economy. And more and more, he's even realizing it's his economy. So if it's bad, it's Biden. If it's good, it's me.”
– Rick Davis, (38:28)
8. Exclusive: Senator Pete Ricketts on the GOP Health Plan
Segment Start: 44:52
- Senator Pete Ricketts outlines the Republican approach:
- Shift support away from higher-income households.
- More direct aid to individuals via HSAs, state-level flexibility, stronger anti-fraud protections.
- Critique of the ACA as wasteful and in need of real reform.
- Urges bipartisan collaboration for a true solution.
Notable Quotes
"Obamacare has been a disaster... I agree entirely with what the president was saying: give the money to the people, not to insurance companies."
– Senator Pete Ricketts, (46:44)
“We want to be able to show that we've got a plan... that will help Nebraska's health care costs actually go down, not continue to go up the way it has under Obamacare.”
– Senator Pete Ricketts, (48:33)
9. National Security: AI Chip Policy With China
Segment Start: 50:31
- Ricketts promotes bipartisan "Safe Chips Act" to restrict U.S. AI chip exports to China—aimed at preserving America’s technological edge and curtailing Chinese military potential.
Timestamps for Notable Segments
| Segment | Start Time | |----------------------------------------|:----------:| | Trump’s Economic Claims & Pennsylvania | 00:56 | | Voter Sentiment & Economic Data | 02:37 | | Health Care Showdown – ACA Subsidies | 05:29 | | Farmer Aid, Tariff Policy | 18:00 | | Ukraine Peace Proposal Debate | 07:37 | | Political Roundtable: Messaging | 31:48 | | GOP Internal Health Plan Debate | 44:52 | | Ricketts on AI Chips/China | 50:31 |
Memorable Moments & Direct Quotes
- "A plus plus plus plus plus… The word affordability. I inherited a mess." – President Trump, (01:47)
- “No one can by force simply take your land away.” – Tanya Fajon, (14:17)
- “There's no remote possibility that we could raise enough tariff revenue without totally crashing the economy…” – Steve Ellis, (19:52)
- “We don't grade ourselves… it's the American voter.” – Jeannie Shan Zaino, (36:10)
- “Give the money to the people, not to insurance companies.” – Sen. Pete Ricketts, (46:44)
Tone and Style
The episode maintains Bloomberg’s trademark analytical and policy-focused tone, featuring spirited exchanges between scrutinizing correspondents and policymakers, punctuated by candid on-the-record moments from Congressional insiders and a key European foreign minister. The backdrop is both urgent and strategic, as negotiations around health care, tariffs, and international diplomacy collide ahead of legislative and electoral inflection points.