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Bannon`s War Room
Episode 4603: House Takes On The Big Beautiful Deal; June Jobs Report
Episode 4603: House Takes On The Big Beautiful Deal; June Jobs Report ...
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- [00:03]
Steve Bannon
This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. You're just not going to free shot all these networks lying about the people. The people have had a belly full of it. I know you don't like hearing that. I know you try to do everything in the world to stop that, but you're not going to stop it. It's going to happen.
- [00:24]
E.J. Antoni
And where do people like that go.
- [00:26]
Steve Bannon
To share the big lie?
- [00:28]
E.J. Antoni
MAGA MEDIA I wish in my soul, I wish that any of these people had a conscience.
- [00:35]
Steve Bannon
Ask yourself, what is my task and what is my purpose?
- [00:38]
E.J. Antoni
If that answer is to save my country, this country will be saved. WAR ROOM here's your host, Stephen K. Band.
- [00:54]
Steve Bannon
Okay, welcome back to the warm. It's Wednesday, 2 July, Europe alert 2025. There's a lot going on globally, internationally there is. But most importantly here, President Trump is in a struggle now to make sure his big beautiful bill, the one that the Senate kind of reworked from the House, is now approved by the House and get on with signing it and executing it. E.J. and Tony is going to join us as soon as we get EJ And Tony up. EJ Antoni's a labor expert economist and does a magnificent job. Been ahead of it. A bombshell jobs report this morning that I think ought to be a wake up call to everybody. I believe, I think my numbers are right, but I could be off and EJ Will help me get focus. I think it was supposed to be 100,000. They were predicting 100,000 uptick in jobs and I think it was a 33,000 job miss. That's a pretty big swing we have been saying. And Microsoft then again announced today more layoffs off the big, I think 2500 layoffs they were going to have a couple of weeks ago. Folks, this is the beginning of the, of the AI Apocalypse. Now, not all these jobs are related to AI in fact, a lot of these were not even layers. What they were is not filling jobs that came open, not filling billets that came open. The businesses are just going to on a wait and see basis. A lot of this is also on a wait and see basis of what? Artificial intelligence. And artificial intelligence as an aid to workers, particularly low skill or particularly white collar workers and kind of those entry level jobs or the second tier, you know, entry level plus jobs about what can be taken away. And so this is incredibly important. It's going to, I think influence what's happening at the White House today as people are going to be talking about this. This was a miss and it was not anticipated, although myself and Cortez have been up and also the Axios guys are saying there's something going on the job market. You can see one of the things we can see is that recent graduates are not having the opportunities that people anticipated, particularly with an economy that's starting to turn around. Remember, President Trump's entire program is on turning around the doldrums of the Biden economy, doing a supply side tax cut and getting to 2.83, three and a half percent growth. The American economy to be robust, to be replacing jobs, to keep unemployment down, to keep the whole apparatus of the whole project moving forward, you need minimum like 3% growth. You have to have 3% growth or higher. And particularly in Scott Besson's plan, a Treasury you need and I think Chip Chip agrees, is three and a half percent. But even at three percent you start to get ahead of where, of where you're growing the economy and tax revenues and tariff revenues higher than you're adding deficits from spending. Now that is a, that's what a supply side tax cuts about. People say, well that's very risky. Well, it's not, it's not, it's not risky in the fact of you understand the elements that you're putting in there and you understand how you're going to unlock the animal spirits, how you're going to unlock the, how you're going to unlock the vitality the American economy. E.J. and Tony joins me now. E.J. i had you on here because we were going to talk the big beautiful bill and the growth package. Of course, you're one of the nation's leading, I would say labor economists and thinking about labor, you've been on for four years here giving it to us. This was, was this kind of a bombshell report today or am I overreading this? What happened on this labor report today, sir?
- [04:26]
E.J. Antoni
Well, Steve, I think part of what we're, we're dealing with still is the fallout of the last four or five years and all of the disruptions that we had from COVID So you know, unfortunately there's a, there's a couple different things we have to remember. One is that just the reliability of data. In other words, we get initial reports and then we have to several months down the road revise them. Sometimes it's a year later we have to revise them. And so very often the labor market is not exactly as it appears or is not exactly as the initial data makes it appear so there's that. The other thing is our baseline, if you want to call it that, has been completely messed up because of COVID for example, the first couple of years of the Biden administration, how many times did they tell us we were adding all these jobs we're adding record jobs to. No, you're simply just returning back to the previous level that you had. After a massive decline, you then get a massive increase. But if you look over time and if you look at the trend there, nothing's really changed. Right. So context is probably the most important thing to remember here.
- [05:35]
Steve Bannon
I want to go back the, in regards to that context, for years he would come on this show and we'd have these monthly and quarterly reports. You said hang on for a second, second. Let me go back to how they restated the Labor Department. And far be it for me to say that the administrative state would ever try to chop block Donald Trump or his administration. But in the, the recalibrations or the resets we would always have or the reconfigurations and rethinking of the numbers were always the numbers were more positive and later we get the reality check that they really weren't as good as they were. Do you think there's the reverse happening here that the, the minions over at the Bureau of Labor Statistics in payback to Steve Bannon and in EJ and Tony badmouthing them consistently or having payback on President Trump by overstating what the losses are and they're going to come back in a month and they're going to restate and it's not going to be as bad, sir.
- [06:37]
E.J. Antoni
Certainly possible, Steve. One of the things that. Well, I should, let me put it this way. One of the problems when we look at certain data sets like the job openings number is the fact that the response rate on those surveys is absolutely horrific. I mean, it's not even one in three. And so when your, when your response rate is that low, it creates an incredible amount of variability in the data. In other words, if I'm going to tell you, I am 90% confident that the actual number falls within a certain interval between, let's say, 1 and 10. Just random numbers here. Okay. And if I'm going to say, look, I am maybe 50% confident that the number falls between 5 and 6, a much narrower range. Well, when your response rate is this low, for you to have any degree of confidence, you need an incredibly wide range. In other words, I'm 90% confident the number falls between not 1 and 10 but 1 in 30. So again, when we look at these at these different data sets, that's a very, very important thing to keep in mind. And this goes back to what we were just talking about with those huge revisions. I would not be surprised if you do end up in coming months, in coming quarters, seeing these massive revisions to the original projection, in part because the original problems with the data that we identified how many times over the last several years, Steve Right. We kept pounding the drum that, look, there are problems in these data sets. A lot of those problems have not been fixed even today. And I'm wondering what on earth is the labor secretary doing now in order to fix those problems and make these numbers more accurate to ensure that we don't have the same kind of inaccuracies under this administration that we had under the last one?
- [08:28]
Steve Bannon
Okay, all that being contextual, let's go. What this actually stated today, this was not layoffs, but this was principally driven by by people not filling positions that were open. Is that because I think people anticipated 100,000 job pickup given this June. And what we saw is a 30 at least the way this is structured, a 33,000 job to down to the negative. So it's a pretty big spread, 133,000. Ms. Is that the basic math?
- [08:58]
E.J. Antoni
Right. And we're also the other important thing, I think, is that as we look at people who are leaving jobs, we at look, we're finding increasingly two things. Number one, the actual number of people who are quitting who are leaving their jobs is going way, way down. And that has to do in part with the fact that they're finding it more difficult to find comparable work for comparable pay. So you're seeing fewer people leave, and even among those who are leaving jobs, they're not actually they're not able to find work as quickly. So when you see those two things go hand in hand like that, that tells us that it's sending the exact same signal about the labor market. And this is part of the reason why the whole mentality of the Federal Reserve right now on interest rate cuts, it just doesn't make any sense. They're clearly acting for political purposes, because when you compare the labor market data that we have right now with what we had in the fall, it is crystal clear that the labor market is softer today than it was back then, at least for most sectors, maybe not for all sectors. That tells us there's much more of a case for interest rate cuts right now than there was in the fall. So why did they cut rates Then and not right now. It has to do with elections and that's it. So again, the labor market's a very mixed bag. We have some very positive indicators, especially when we look at native born Americans being able to get jobs today versus this time last year. Huge improvement there. But there are some areas in which the labor market is clearly softening. Now, again, it's not to say that the labor market's falling apart. It's not. When we look at things like wage growth that has picked up tremendously every month this year, actually annual wage growth has improved. Phenomenal news. That means we're getting out of the the morass that we saw under Biden. But again, for every one positive signal you can find right now, you can probably find a negative one somewhere else. You just have to know where to look. So if I were to describe the labor market today, again, I'm going to call it a mixed bag.
- [11:09]
Steve Bannon
Okay, hang on a second. I want to go back to the Fed because this is obvious now, President Trump's very focus on this. The Federal Reserve has two mandates. One is inflation, right? Prices. The other is full employment. Your point is that on this second, you've seen obviously a softening in the labor market overall over a period of time last October, right before the election, they did an interest rate cut and President Trump went nuts because it appeared to people that they were trying to juice the markets and get a pop in the stock market and positive results right before election day. And your point is that since this is one of the responsibilities, I know a lot of us argue they shouldn't have two responsibilities. It only should be inflation and prices. That if it is labor, and that's one of the ones they're officially mandated with, you have to act accordingly. And your point is that set aside President Trump, just as a labor economist, you're saying it's obvious that the Federal Reserve should step in here and do the rate cut because you have a softening labor market. Is that a correct assessment of your position?
- [12:17]
E.J. Antoni
Right. Steve, when we look at the Fed's models that they use, their own Keynesian models, tell them that they should cut rates today. Or at the very least, those Keynesian models say there's a much stronger case for cutting rates right now than there was back in the fall. Now look, I'm not saying I agree with the Keynesian models. I'm not saying that that I think we should even have a central bank set up the way we do right now. That's not my point. My point is simply that using the Fed's own logic, using the Fed's own models and the mandate which they so often cite, that dual mandate that you just articulated, Steve, under the rules of the game that the Fed says they play the game by, we should be cutting rates today, pure and simple. That's literally just the fact of the matter. The the numbers are what they are. Inflation has improved, the labor market has softened. Again, by the Fed's own rules, they should be cutting rates and yet they're not.
- [13:18]
Steve Bannon
E.J. you run here to talk about the Treasury Department, the president's growth plan. I want to if you just hold through the commercial break, we're going to come back to that, a labor report today. As EJ Said, kind of a mixed bag, but there's a lot of positive and we'll get EJ to read reiterate numbers for native born Americans. Would that be of interest to you? Native born Americans, the employment is looking better. Also wage growth. So it's a lot of good stuff in there and it shows President Trump's program starting to be executed. Philip Patrick and the team. So this afternoon, if we can pull it off, we will have the Secretary of Treasury Scott Besson on the five o' clock show this afternoon, depending on kind of what happens on the rules in the House. But the secretary of treasury will join us, discusses also. Philip Patrick and the team are now in Rio. They're prepping for their meetings. They're going to be meeting with finance ministers, central bankers, all of it. Philip Patrick's going to give us a highlight on that this afternoon. Enter the dollar empire. Get up to speed, be the smartest person at your backyard Fourth of July barbecue. Get all seven, get all seven installments. Birchgold.com promo code Bannon that's birchgold.com promo code Bannon get the end of the dollar empire. It walks you through everything. Debt, deficit. The dollar is the prime reserve currency. Everything you need to know about spending, how we got the $37 trillion of debt, what the debt ceiling is, what the fights for the debt ceiling are. Become the smartest person in your own life about this and what gold means as a hedge and why it's not the price of gold, it's the price process of how the price is derived. The big forces driving birchgold.com ban go get it.
- [14:57]
E.J. Antoni
Today short break.
- [15:00]
Steve Bannon
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- [18:16]
E.J. Antoni
Well, I think the key, the key element that he touched on there Steve, is the fact that the relationship between the ADP numbers, which is what showed that drop today in particular with the service sector. Right. The service sector is really what took it on the chin. But whatever the case, the fact that ADP numbers came down showed negative job growth that has actually very little correlation with the non farm payroll number we're going to get tomorrow from the Bureau of Labor Statistics. And by the way, that actually has been the case even after ADP changed their methodology to try to make their private payroll numbers better reflect the non farm figure from bls. So even with trying to adjust the methodology in a post Covid world, the correlation there has been very, very poor. All that being said, again, I still have pretty high level of confidence that we're going to get a positive number tomorrow that we're not going to drop into the negative. And that's even with the labor market being a lagging indicator. In other words, things like the stock market tends to be a leading indicator. The fact that stocks went down in April following Liberation Day, you know that caused plenty of economic disruptions. But you can see now stocks are right back up because a lot of those disruptions at this point have been smoothed over. So is it possible that you get some decline in employment temporarily because businesses got scared and then they just go right back and hire everybody? Sure, certainly possible. Going back to your other question though, in terms of native born employment, this is something that I think the Trump administration is not getting enough credit for. If you look at not just the level of jobs, but who has the jobs, native born Americans are increasingly doing better. What we saw under Biden was repeatedly the annual growth in jobs among native born Americans versus foreign born workers. The foreign born workers were consistently beating out their native born cohort. Native born counterpart. That is so what, what happened over the last year? Well over the last year and this obviously is not all Trump, but it shows you the amount of improvement Trump has made. In just a few months, native born Americans added about 1.4 million jobs. That's phenomenal news, especially when you consider that foreign born Workers only saw an increase of about 700,000. In other words, the vast majority of jobs being added over the last year are going to native born Americans. Now I actually think that it's good we're still adding jobs for foreign born workers because if you look at the, if you look at the total number of jobs that we need to add to the economy, we don't actually have enough workers here at home. Unless you take literally all of the people who are now sitting on the sidelines and managed to bring them back into the labor force instantly, you're really not going to be able to fill all of those jobs. Job openings. Now that's obviously something we want to happen over time, but if we look at what happened during the first Trump administration, you were able to add not only plenty of jobs for foreign born workers, but you were able to add plenty of jobs for native born Americans. And that's one of the key reasons why the Trump economy was so successful the first go around and it's why it stands in stark contrast to what happened under Biden. Under Biden, native born Americans didn't gain any ground at all. All of the net job growth went to foreign born workers. And that's not what we want. We want an economy where there are so many jobs that not only are there enough for all native born Americans to get jobs, but you even have more jobs than that to the point where you're willing to take on some of that foreign born labor to, to further grow the economy.
- [22:06]
Steve Bannon
My recommendation of the Trump administration, the mainstream business media is not going to reach into this number like EJ and Tony and put up exactly what the reality is. This needs to, this once again needs to be sold because it needs to be exposed. People need to be aware of this. Plus the, the, the job growth are the Axios I think is done a very good job of warning about the upcoming potential for this AI jobs apocalypse, particularly in entry level white collar jobs in tech, in service economy, managerial, you know, stem, et cetera. Is anything you've seen in the data today? We just had Microsoft announce another layoff. You've got intel just announced a big layoff. Is there any concern that you see right now in looking at this of a coming AI jobs apocalypse for white collar workers? Sir?
- [22:57]
E.J. Antoni
Not yet, Steve. Even when we look at, as I mentioned, the service sector is really what took it on the chin here. But even when we drill down into those numbers, it looks like most of the service sector jobs where we are seeing that negativity has to do with things where there's actual labor involved as opposed to just sitting at a computer. So, for example, even though I personally have seen this in my own work, where I no longer have to go to, let's say, an intern and ask them to write me several lines of code to execute a data scraping program, I can have AI do that for me. Now, what we're really seeing in the macro level data is things like the leisure and hospitality industry not having to hire as many as many waitresses right now, not having to hire as many as much housekeeping staff in hotels. So again, right now, at least in the macro level data, what we are seeing is more so the jobs where there's human labor, physical labor involved as opposed to things related simply to it.
- [24:03]
Steve Bannon
We're going to go to the House floor in a moment. I think they're now starting to debate the, the rule. We want to go and pick up some of that debate. E.J. i asked you to be on here, not for labor that just happened, but actually to make the case that President Trump put it on True Social today that the essence of the big beautiful bill, and we're going to go to the House in a minute and see this debate on the rule itself is about growth. I know that you've been one of the big proponents working with Scott Bess and others about a supply side tax cut because it's about growth. Can you walk us through the best argument to pass President Trump's legislation, given that people are saying CBO says it's going to add $3 trillion to the deficit, what is your argument from a supply side, sir?
- [24:47]
E.J. Antoni
I think a lot of those arguments, Steve, that say, oh, the bill is going to do all these terrible things, they're kind of confusing stocks and flows, frankly. So if you want to think of it this way, your net wealth as a household is a stock. It's your assets minus your liabilities, but your annual income is a flow. And those things are not directly comparable. To a certain extent, it's apples and oranges. And people are making the same kind of fallacious comparisons with this bill when they say the deficit is going to go up if you pass this bill. Okay, that's true. The deficit was going to go up anyway. In fact, if you pass the bill, the deficit goes up less. So it slows the rate of increase, you see. So there's, you can't get, you can't confuse levels with rates of increase. Those are different things, you know. Yes, it is true that spending is going to go up, but it's going to go up at a slower rate. Okay, so again, the alternative here is not a perfect bill. The alternative here is not the bill that you want. It's doing nothing. If you do nothing, spending goes up at a faster rate, the deficit gets worse at a faster rate, the debt gets much worse at a faster rate. And at the same time, you're going to, you're going to start a full $4 trillion tax hike on the American middle class beginning in 2026. So again, if the alternative is doing nothing, that's a pretty catastrophic scenario. So even though the big beautiful bill has, has plenty of flaws, I'm not saying it's perfect. It's not, it's not the bill you or I would have, would have written, right, Steve? But it is still far superior to doing nothing. And hopefully we can build on this progress in the future. Hopefully, the White House will continue to send rescission packages, including pocket rescissions at the end of the fiscal year. And hopefully we will continue in terms of Congress to make progress towards further cuts in all of these crazy spending programs.
- [26:44]
Steve Bannon
EJ where do people go on your social media, particularly your Twitter account, because you come in pretty hot and you keep people pretty informed where they go.
- [26:54]
E.J. Antoni
Twitter is going to be the best place to find me. And the handle there is at real EJ Antony.
- [27:01]
Steve Bannon
EJ thank you so much, brother. Fantastic description of all of it.
- [27:05]
E.J. Antoni
Hope people thank you for having me.
- [27:06]
Steve Bannon
Steve, let's go to the House. Thanks, brother. Let's go to the House floor and pick it up. Pick the action up as it is, $3.3 trillion to our nation's 35 trillion debt. So much for Republicans being the party of fiscal responsibility. They're also gutting the Consumer Financial Protection Bureau, an agency that returned $21 billion to families cheated by megabanks. They're cutting housing funds during an affordability crisis and weakening oversight of Wall Street. Maybe they've forgotten that the people elected them, not Trump or the billionaire class. And Mr. Speaker members, it'll be a cold day in hell before we let Republicans get away with this. I yield back gentleman from North Carolina.
- [27:57]
E.J. Antoni
I reserve Mr. Speaker, gentleman, reserve gentleman from Massachusetts. If I can inquire of the general.
- [28:06]
Steve Bannon
If she doesn't have many speakers, maybe.
- [28:08]
E.J. Antoni
She can lend us some time because we have a ton.
- [28:12]
Steve Bannon
Nice try, Mr. McGovern.
- [28:15]
E.J. Antoni
In Congress, we measure, we can measure how much people really believe in their position by whether they're willing to come and join their leaders on the House floor. Well, I count four members on the Republican side, and we've got over 75 over here. But if I were them, I wouldn't want to be associated with this bill either. Mr. Speaker, I'm going to urge we defeat the previous question.
- [28:35]
Steve Bannon
And if we do, I'll offer an amendment to the rule to consider. Remember number 156 offered by Leader Jeffries.
- [28:41]
E.J. Antoni
Which strikes all provisions that would cause millions of Americans to lose healthcare and food assistance.
- [28:46]
Steve Bannon
Mr. Speaker, I ask your unanimous consent to insert the text of my amendment.
- [28:50]
E.J. Antoni
Into the record along with any extraneous.
- [28:52]
Steve Bannon
Material immediately prior to the vote in the previous question. Without objection and, Mr. Speaker, to discuss our proposal, I yield two minutes to the gentleman from New York, Mr. Ocasio Cortez. Gentleman is recognized for two minutes.
- [29:02]
E.J. Antoni
Thank you. And I thank the chairman. You know, President Trump had issued some statements throughout this process saying and urging, insisting that this bill does not cut Medicaid. He's also said some things, you know, he says he doesn't think I'm too much of a smart person. And I'll tell you one thing. It doesn't take a smart person to know if you're being lied to, President Trump. You're either being lied to or you are lying to the American people. Because this bill represents, in the text of this bill, the largest and greatest loss of health care in American history. 17 million Americans will lose their health care on this bill. Not undocumented people, not, quote, unquote, the disgusting term illegal. But 17 million Americans will have their health care cut from this bill on this point of tax on tips. As one of the only people in this body who has lived off of tips, I want to tell you a little bit about the scam of that tax. A little bit of the fine print there. The cap on that is $25,000. While you're jacking up taxes on people who make less than $50,000 across the United States while taking away their snap, while taking away their Medicaid, while taking. Kicking them off of the ACA and their health care extensions. So if you're at home and you're living off tips, you do the math. Is that worth it to you? Losing all your health care, not able to feed your babies, not being able to put a diaper on their bottom. And in exchange for what? This bill is a deal with the devil. It explodes our national debt. It militarizes our entire economy, and it strips away health care and basic dignity of the American people. For what? To give Elon Musk a tax break? And billionaires, the greedy taking of Our nation. We cannot stand for it, and we will not stand for it. Support it. You should be ashamed. Members are reminded not to engage in.
- [31:29]
Steve Bannon
Personalities toward the president. And members are reminded to direct their.
- [31:37]
E.J. Antoni
Remarks to the chair.
- [31:42]
Steve Bannon
Gentlewoman from North Carolina.
- [31:44]
E.J. Antoni
Thank you, Mr. Speaker.
- [31:46]
Steve Bannon
I now yield one minute to the gentleman from Texas, Mr. Nels. Gentlemen is recognized for one minute.
- [31:52]
E.J. Antoni
Mr. Speaker, I rise today to discuss an important provision in the big, beautiful bill I was proud to introduce, the Endowment Tax Fairness act, which would tax the endowment profits of private elite universities at 21%, raising an estimated. Listen to me.
- [32:11]
Steve Bannon
70 to $100 billion over 10 years.
- [32:14]
E.J. Antoni
The Senate gutted this provision and reduced it to under $1 billion annually to protect. Protect elite universities that take hundreds of millions of dollars annually in federal tax dollars. We were given instructions to generate revenue to pay for President Trump's wonderful priorities. Folks, we're not taxing the indomit itself.
- [32:34]
Steve Bannon
Harvard has $53 billion.
- [32:36]
E.J. Antoni
We're not taxing that. We're just going to tax the net earnings on their investments at 21%, which was equal to the corporate tax rate. And what did the Senate do? They reduced it to 8%. Just under 8%. It is about time that we get these universities to pay the same that corporate America pays. And with that, I yield back.
- [32:57]
Steve Bannon
Gentleman yields back. Gentleman from Massachusetts. I yield one minute to the gentleman.
- [33:01]
E.J. Antoni
From Florida, Ms. Wasserman Schultz. Gentlewoman's recognized for one minute. Thank you, Mr. Speaker. I rise to oppose this vile Republican plunder of working families, seniors and veterans, all so the richest Americans can be showered with even more wealth. This billionaire bailout would strip health care coverage from 17 million Americans, nearly 2 million in my state of Florida. It will push millions into crowded, costly emergency rooms and saddle them with medical debt. Trump's bigger, ugly bill also steals record food assistance from millions of kids, kids, seniors and veterans. It makes cancer screenings and prenatal care harder to get by defunding Planned Parenthood. It cripples solar and wind projects and kills millions of clean green, manufacturing and construction jobs, all so the rich can get huge tax breaks. And no family is unscathed because this bill also blows up the national debt by $4 trillion, which drives up interest rates on car loans and mortgages and triggers billions in Medicare cuts, cutting health care for our seniors. This bill makes life less affordable, more painful. And instead of uplifting lives, it will end them. When history looks back on this bill, its legacy will be Trump lied and people died. Vote no. I yield back.
- [34:12]
Steve Bannon
Chair would remind members once again not.
- [34:17]
E.J. Antoni
To Engage in personalities toward the President.
- [34:19]
Steve Bannon
Gentlewoman from North Carolina.
- [34:21]
E.J. Antoni
Thank you, Mr. Speaker.
- [34:24]
Steve Bannon
I reserve. Gentlemen.
- [34:27]
E.J. Antoni
Reserves.
- [34:28]
Steve Bannon
Gentlemen from north. Gentlemen from Massachusetts. Mr. Speaker, I yield one minute to the gentleman from Rhode Island. Mr. Magaziner. Gentlemen's recognized for one minute.
- [34:37]
E.J. Antoni
When we say that the Republican Party has turned into a cult, this is what we mean. Our Republican colleagues are pushing a bill that would throw their constituents under the bus. A bill that flies in the face of everything they claim to to stand for. All because Donald Trump wants a bill signing photo op by the 4th of July. Our Republican colleagues know that this bill will cost 17 million Americans their health insurance. They know that nursing homes in their own districts will have to close down. They know that under this bill, $5 trillion of debt are being added that will be paid for by my children and your children and their children for generations to come so that today's billionaires can get a tax break. They know that this bill is unpopular and many of their vulnerable members will lose reelection over it. But the cult leader has decided he wants his photo op on July 4th. And our Kool aid drinking colleagues are going along with it. They know this is wrong. They still have a chance to do right by their constituents and their convictions. Vote no on this bill.
- [35:44]
Steve Bannon
I yield back, gentlemen from North Carolina.
- [35:47]
E.J. Antoni
Thank you, Mr. Speaker.
- [35:49]
Steve Bannon
I yield two minutes to the very.
- [35:51]
E.J. Antoni
Distinguished gentleman from South Carolina, Mr. Wilson.
- [35:54]
Steve Bannon
Gentleman's recognized for two minutes.
- [35:58]
E.J. Antoni
Thank you very much. Chairwoman Virginia Fox of North Carolina. And indeed, Republicans were elected last November with promises made, promises kept. And despite the extraordinarily ignorant lies on the other side, the American people know that the bill that we'll be voting on today reduces taxes, creating jobs. It's the elimination of taxes on tips and overtime. It provides for securing the border. It provides for energy independence. It provides for the ability of having peace through strength. All of this is in the bill. And then compassion. It's not compassion if you support programs that are ultimately going to fail. But Republicans want people who need assistance to receive the assistance. We already know. Margaret Thatcher has identified what they're proposing and that is socialism will work until you run out spending other people's money. They are putting the poor people of America at risk. We're the ones of compassion. Additionally, with the promises made, promises kept by Donald Trump, I've lived it. I led the delegation to move the delegation, the embassy from Tel Aviv to Jerusalem. He did that. People said, you shouldn't do it. The State Department. Because it leads to dislocation. No, it led to the embassy being in Jerusalem. And it led to the Abraham Accords. We know last week the President was advised, do not bomb Iran. It will lead to World War Three. No, it has led to a ceasefire and the ability of having Abraham Accords extended to other countries, including Syria. And I'm really grateful that Lindsey Graham was such an advisor. The President acted despite the naysayers that we have all around us. I just appreciate Donald Trump. Promises made, promises kept. Thank you. I yield back.
- [37:41]
Steve Bannon
Gentleman yields back. Gentleman from Massachusetts.
- [37:43]
E.J. Antoni
Mr. Speaker, I yield one minute to.
- [37:45]
Steve Bannon
The gentleman from New York. Mr. Kennedy. Gentleman's recognized for one minute.
- [37:48]
E.J. Antoni
Thank you.
- [37:48]
Steve Bannon
Ranking Member McGovern. I'm an occupational therapist. I help people live the fullest life they could, given the cards they were dealt. I worked at a school for children with disabilities in a nursing home, helping seniors maintain their independence. I know exactly what it means to cut a trillion dollars from Medicare, Medicaid and Affordable Care act, which is exactly what this big ugly bill does. Taking away health care for 17 million Americans won't make us any healthier. Stealing food away from the neediest children, seniors and veterans, or won't make us any stronger. Giving billionaires a tax break won't make us any richer. Children will go hungry. Seniors will lose their health care. Students will lose their financial aid. Hospitals will close. Americans will die. I urge my Republican colleagues to stand up, grow a spine, stop bowing down to your king, Donald Trump. Represent your constituents like you were elected to do. And vote no on this horrible big ugly bill. I yield back. For the third time, the chair would.
- [38:58]
E.J. Antoni
Remind members not to engage in personalities toward the President or they will be.
- [39:04]
Steve Bannon
Called out of order. Gentlewoman from North Carolina.
- [39:08]
E.J. Antoni
Mr. Speaker, the House is not in order. Work with Donald Trump.
- [39:15]
Steve Bannon
House will be in order. The House will be in order.
- [39:27]
E.J. Antoni
Yeah.
- [39:28]
Steve Bannon
Gentlewoman from North Carolina.
- [39:30]
E.J. Antoni
Thank you.
- [39:31]
Steve Bannon
Mr. Speaker. I reserve gentlewoman.
- [39:33]
E.J. Antoni
Reserve gentleman from Massachusetts.
- [39:35]
Steve Bannon
Mr. Speaker, if there are no other Republican members willing to speak speak for this bill, we can send some members.
- [39:40]
E.J. Antoni
Over to you just to state the facts as to what's in this bill. Let's do the public service. Mr. Speaker, I now yield one minute to the gentleman from Maryland, Mr. Ochewski.
- [39:53]
Steve Bannon
Gentleman's recognized for one minute.
- [39:54]
E.J. Antoni
Thank you. I rise today to remind my colleagues that this bill is more than words on paper. The policies we're debating today have real impacts on real people. People like 4 year old Amir Rich, who visited my office earlier this month. Amir was born at just two pounds and spent 452 days in the hospital today. Although he still depends on feeding Tubes and oxygen tanks. He is thriving. He's walking and able to speak. He lit up my office with energy. And that's thanks to the care he received under Medicaid. Christina was forced to leave her 16 year career in corrections to become his full time caregiver, placing a significant financial strain on their family. In the face of rising costs for American families, Medicaid has become a vital lifeline, helping to cover the kind of care Amir needs. The bill before us guts these lifelines like Medicaid and chip. These programs cover nearly half of all American children's. For families like Christina and Amir, today's vote is a matter of life and death. I encourage my colleagues to look at Amir, look at him and oppose this reckless bill. Protect the vital support systems that serve millions of Americans. Thank you. I yield.
- [41:09]
Steve Bannon
Gentlemen from North Carolina.
- [41:11]
E.J. Antoni
Thank you, Mr. Speaker.
- [41:12]
Steve Bannon
I yield one minute to the gentleman from Utah.
- [41:15]
E.J. Antoni
Mr. Kennedy.
- [41:16]
Steve Bannon
Gentleman's recognized for one minute.
- [41:18]
E.J. Antoni
Thank you Madam Chair. And thank you, Mr. Speaker. It's a pleasure to be here and speak in favor of the rule for the big beautiful bill. As a provider of healthcare, myself, as a doctor and as a recipient of Medicaid services, my first three children were born on Medicaid. In addition to the fact that as a child I was receiving food assistance not only from free school lunch programs, but church programs. Recognizing the vital need associated with Medicaid as well as with these food programs, we need to right size these programs. Mr. Speaker, if we don't take a different trajectory, these programs will collapse under the economic failures of prior administrations. The reality behind this is these bills, this bill that we're discussing today, it is insisting on work requirements associated with the recipient of Medicaid. If you are able bodied, working adult, you should be able to go out and find a job. If you can't find a job, you need to go to a training program and try to find training so you can get a job and ultimately get off Medicaid. One of the components about Medicaid, we all know it, was formed in favor of pregnant women, disabled people, as well as the elderly. And what the Republicans are trying to do is right size the Medicaid program so that it survives for the long term the vital needs of the people of the Future. With that, Mr. Speaker, thank you for the time. And I yield back.
- [42:34]
Steve Bannon
Gentlemen from Massachusetts, if you can't find a job, just enroll in a training program.
- [42:39]
E.J. Antoni
Well, that's hard to do when Republicans.
- [42:40]
Steve Bannon
Are cutting and gutting the training programs.
- [42:43]
E.J. Antoni
That exist in this country. I Now yield, yield one minute to the gentlewoman from Texas, Ms. Johnson.
- [42:49]
Steve Bannon
Gentlewoman is recognized for one minute.
- [42:50]
E.J. Antoni
Thank you, Mr. Chairman. You know, I've been listening to this debate and I am struck by the appalling ability of the members of the other side who are so afraid of this president they are willing to lie to the American people because they fear the tweet of a president more than they fear the wrath of the voters at the ballot box. This will come to roost because 17 million people are going to lose their health care. And in Texas, we're one of the largest creators of clean energy jobs. Texas is the energy state. I'm proud to be an energy state. We have vast amounts of oil and gas jobs, but we also are the largest creator of clean energy jobs. And we will lose millions of employment in our state because Republicans of this delegation are going to vote for this.
- [43:38]
Steve Bannon
The reason I wanted to show this, you're seeing the 2026 midterm right there. I think what's very disappointing is not enough Republic standing up. If you believe in this bill, you got to stand up for it. You've got to sell the growth program. You just can't hide there. And Joe Wilson just wandering around from South Carolina talking about everything. Focus on what's in this bill. Focus on what's in this bill. And you should be up firing back on these Democrats. They got their pitch down. I wanted you to hear the pitch. I know it upset many of you and it's going to upset many of you because this is what you're going to hear through election day of 2026. The Republicans have got to stand up and defend this. If it's going to get voted down in the rule, it's going to get voted down the rule. But right now, we're seeing these are feckless Republicans. You got to step up, step into the plate. You ought to know this bill as well as the Democrats do. They're hammering you with talking points. Hammer back. There's so much good in this, and it's predicated upon economic growth. Once again, they're caught into this cycle of defending these cuts that are making. It's not, it's not going to work. Need to go on offense, offense, offense, offense. And President Trump taught you anything. You should have learned that lesson. So right there you see the feckless House. We're going to take a commercial break. Now more than ever, folks, learn about gold. Learn about what drives the price of gold. Learn about the converging forces that drive gold as a hedge, particularly in a complicated and dangerous global situation. Now more than ever. Birchgold.com/bannon we lay it all out for you in seven free installments. The end of the Dollar Empire. We've got an entire team of Birch Gold in in Rio. Jeanera, we're going to interview. We're gonna have Philip Patrick up tonight. He's going to lay out everything they're doing to understand what the global south, the BRICS nations are doing. Short commercial break Back in the War in just a moment. You missed the IRS tax deadline. You think it's just going to go away? Well, think again. The IRS doesn't mess around and they're applying pressure like we haven't seen in years. So if you haven't filed in a while, even if you can't pay, don't wait and don't face the IRS alone. You need the trusted experts by your side. Tax Network USA Tax Network USA isn't like other tax relief companies. They have an edge, a preferred direct line to the irs. They know which agents to talk to and which ones to avoid. They use smart, aggressive strategies to settle your tax problems quickly and in your favor. Whether you owe $10,000 or $10 million, Tax Network USA has helped resolve over $1 billion in tax debt and they can help you, too. Don't wait on this. It's only going to get worse. Call Tax Network USA right now. It's it's free. Talk with one of their strategists and put your IRS troubles behind you. Put it behind you today. Call Tax Network USA at 1-800-958-1000. That's 800-958-1000 or visit Tax Network USA tnusa.com Bannon do it today. Do not let this thing get ahead of you. Do it today. Enjoy a delicious glass of Dr. Formulated field of Greens each day and you're going to feel amazing. Plus your doctor will notice your improved health or your money back. How can a fruit and vegetable drink promise better health? Each fruit and vegetable and field of Greens was doctor selected support vital organs like heart, liver, kidneys, metabolism, immune system and healthy blood cells. Let me get you started with 20% off and free shipping. Visit fieldofgreens.com and use my code Bannon. That's field of greens.com code Bannon. Remember, every day you get your the max you need of your fruits and vegetables in this real organic superfood. That's field of greens.com code Bannon for 20% off and free shipping up and up.
- [47:42]
E.J. Antoni
And as someone who Served as the chief of staff on the U.S. auto Rescue in the Obama administration. I know what it means to see Michiganders struggling. I know what it means when Michiganders have to choose between paying their bills and paying for life saving health care all while billionaires get a tax cut. This bill, Mr. Speaker, makes me sick to my stomach and I urge everyone to vote no. Thank you general lady from North Carolina.
- [48:13]
Steve Bannon
Thank you Mr. Speaker.
- [48:14]
E.J. Antoni
I reserve generally North Carolina reserve gentleman from Massachusetts side of the aisle.
- [48:20]
Steve Bannon
Mr. Speaker, you know why they reserve? You know either you know where they reserve. They have no Republicans over there. How can that possibly be right now you're seeing the 20, 26 is the midterms. You're hearing it all right there. Look at the way they're spinning it. Look at the way they're framing it. Look at the way this is. Billionaire tax cuts and American people being ripped off. You're going to hear that over and over and over again. That' their mantra. Where's the opposite side where the Republicans. How can you possibly not have people up there defending this bill, the president's bill? If you're going to vote the rule down, then vote the rule down. But somebody has got to be in the breach and call out the lies of the Democrats. If you don't call it out now, it's going to lock in it going to build momentum. I just, I don't understand how you have this and you got 100 Democrats down there. Look how they're backed up and your head blew up with Sandy Cortez, you know, formerly known as aoc Sandy Cortez from Westchester, not a girl from the hood. And you had, you know, you had my favorite start off. Was that a wig? I think that was a wig on Maxine Waldo. Maxine Waldos wearing a wig today. I don't know. She was on fire. Calling people liars, calling the president liar, calling everybody liars. You see how many times the gentleman running, sitting for the speaker kind of running the floor today, banging the gavel, saying you're out of order. You can't have personal attacks on the president. Every single Democrat gets up there and attacks the president by name. They're coming and we got a fight on our hands and we're going to fight. If you're going to vote for this bill, you got to defend this bill. And there's so much to defend. Every time, five times in a row or four times in a row has been hadn't had a guy and then you get a guy like Joe Wilson talking about the Bombing of Iran. It's not, it's not pertinent till today. To today. To today. Get up there and defend the bill. This is another feckless example of a Johnson run Republican Party in Scalise. Where are the fire breathers? And if you didn't have the votes for the rule, then maybe you should have waited. Have him go the White House have come back and get organized. Right now, folks, if you got a problem with the irs, if you see what's happening here, they're going to need, they're going to have to plug the gap by getting every piece of tax money that they believe is owed to them. If you have a notice from the IRS or you're late, you're late filing, you haven't filed. It's not going to go away. Break the anxiety, break the angst, the not sleeping at night. Don't put the letter in the drawer. Go to Tax Network USA, 800-958-1000 they've solved or settled a billion dollars worth of tax issues. High probability. They can do. They can. They can solve yours too. And you get a free consultation. 800-958-1000 or tnusa.com Bannon so tell them Steve Bannon sent you. They'll do you right. But make sure you go check it out today. Also for the great patriots. You hear the woman down there talking about the green new scam in Texas. Is that enough to make you want to, you know, come on, man. Patriot Mobile, the great Glenn Story and the team at Patriot Mobile gone out of their way to defend Texas. Texas is the railhead of the MAGA movement. If folks and down there in the Texas delegation better get on top of defending this bill, you heard right there, right now is 20, 26. You've heard it all. They got all their talking points. They're going to hammer them. Hammer them, Hammer them how? This is all about billionaires. President Trump's doing terrible things to the working class. You've got to defend this. You've got to get on it. Patriot Mobile right now. Go there. Go to patriot mode. 972patriot. Easy way to call. Talk to an American citizen. That's there at the customer service. Talk about all their services. Sign up. Do the switch today. Not tomorrow. Do the switch today. 972 Patriot for the best mobile phone service in the country. Go check it out today. 972 Pager 1 thank Glenn story and the team being one of our sponsors right there. I hope Charlie Kirk picks up some of this. You got to Hear it. You got to hear it. The Warren posse wants to get ahead of things. You see, this is the 2026 campaign right there in the big, beautiful bill. And we need Republicans in the well right now. Hammering back, hammering back right now. That was quite feckless. Not good enough. My God. If President Trump sees that, his head will blow up as it should. Let's go to Washington D.C. mike. Oh, my God. Mike Lindell. Tell me, brother, where are you? Okay, we need some sound with Mike Lindell. We're going to need some sound. You got me, Steve. You got me. Hey, Steve. I'm just. Yeah, I'm about to head in the White House.
- [53:14]
E.J. Antoni
I just did a big speech down the street, Steve.
- [53:17]
Steve Bannon
You know I love the people, right? So I had to stop and talk to them all. And we're going to be heading in shortly. Got a lot of different meetings, a lot of things to go over. As you know, the 2020 election was stalled and we've got to be proactive and secure our election platforms going forward, going into these midterms and, and save our country, quite frankly. And so I'm very excited about today. I'm going to be here for the next two days and meeting all the.
- [53:43]
E.J. Antoni
People in D.C. steve, who said there's two sides? Everybody, everybody seems to be conservative here.
- [53:49]
Steve Bannon
Is that true in D.C. that's true. Mike, you're going to sell me a pillow or a pair of set of sheets before you go in. Be don't. I don't want to call security to have you blocked. So do a good job and sell us some sheets before you go. Right on. All right, you guys, we're doing the fourth of July special, just exclusive to the war Room posse.
- [54:09]
E.J. Antoni
This is a 50 off or more.
- [54:12]
Steve Bannon
Sale on all of our products. So if you, if you have. There it is, the 4th of July sale. 50% off or more. Use promo code War room and go to the website mypillow.com scroll down to see Steve. We waited all year for this sale, you guys, and we put it a day up early. The cheats 2988. Any size, any color.
- [54:34]
E.J. Antoni
The micros is 100% made in the USA.
- [54:37]
Steve Bannon
It's the biggest blowout sale for the 4th of July in his street. Call 800-873-1062 and use that promo code War Room. And you guys, I can't thank the war room posse enough.
- [54:51]
E.J. Antoni
We're going to win this and save our country.
- [54:53]
Steve Bannon
And you guys have made it all possible that MyPillow is still here making products at my employee owned company. Promo code, war room.
- [55:01]
E.J. Antoni
Happy 4th of July sale.
- [55:05]
Steve Bannon
Thank you, brother. Most people. Powerful promo code in the business. Mike Lindell at the White House. We'll check in with you this afternoon. Thank you, brother Mike. Make sure everybody goes checks it out. Support my pillow, particularly over the fourth of July weekend. Charlie Kirk's gonna pick it up from here. Engine room just told me the Republican Party still doesn't get why we won in 2024. That's quite obvious by that feckless performance you just saw on the House floor. Gotta call him like you see him, people. Got a man up. This bill is not going to sign itself. Got to roll. See you back here at.