Rep. Gregory Meeks Talks INVEST Act

Summary

Podcast Summary: Bloomberg Talks

Episode: Rep. Gregory Meeks Talks INVEST Act
Date: December 11, 2025
Host: Nathan Hager (Bloomberg)
Guest: Congressman Gregory Meeks (D-NY), Ranking Member, House Foreign Affairs Committee & Member, House Financial Services Committee

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Episode Overview

This episode features an in-depth interview with Congressman Gregory Meeks, focusing on the looming healthcare cliff related to Affordable Care Act subsidies, US foreign policy and recent oil tanker seizures near Venezuela, and the INVEST Act’s impact on small businesses. Congressman Meeks criticizes current administration policies, addresses legislative gridlock, and advocates for bipartisan efforts on economic and international issues.

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Key Discussion Points & Insights

1. Looming Affordable Care Act Subsidy Crisis

• Congressional Stalemate:
  • Meeks emphasizes that Democrats have long advocated extending the tax credits underpinning the Affordable Care Act (ACA).
  • He criticizes Republicans for failing to propose or pass an alternative and accuses them of legislative disarray.
  • The expiration of these credits may result in doubled health insurance costs for millions, risking coverage loss for many Americans.
• Direct Impact on Americans:
  • Meeks notes that affordability is “not a hoax”—contradicting the President’s narrative—and will soon force tough decisions on families.
  • No serious bipartisan negotiation has taken place to address the issue before the impending “cliff.”

Notable Quote:

“They know what their pockets feel like and they know what their insurance plans are looking like, so that they will soon have to make a choice, many of them, of whether they continue health care or not because they may not be able to afford it.”
— Rep. Gregory Meeks [01:58]

2. Legislative Process & Discharge Petitions

• There’s discussion about a bipartisan discharge petition that could force extended ACA subsidies onto the House floor with new eligibility requirements.
• Meeks laments the lack of regular legislative order, with important bills being blocked by leadership, forcing members to circumvent the process through discharge motions.

Notable Quote:

“I've been in Washington for a long time, a member of Congress for 27 years, and I've never seen anything like this.”
— Rep. Gregory Meeks [03:47]

3. US Seizure of Venezuelan Oil Tanker & Foreign Policy

• Meeks critiques the President’s approach to seizing an oil tanker off Venezuela, arguing it's more about regime change and oil access than drugs.
• He warns this mirrors Russian methods and undermines longstanding American values and alliances.
• Calls out lack of congressional consultation and war powers oversight on foreign interventions.

Notable Quote:

“This is not the way that we generally have historically operated in the United States. This is really how Russia operates. And so we are losing our values...”
— Rep. Gregory Meeks [05:35]

• Meeks is sponsoring a new War Powers Act bill to restore congressional oversight in such matters.
• Concerns raised about President Putin’s solidarity with Maduro and the possible escalation of complexity in US–Venezuela–Russia relations.

Notable Quote:

“He just seems to bow down to the will of Russia and whatever Russia says ... It's not okay with the American people.”
— Rep. Gregory Meeks [07:48]

4. INVEST Act & Small Business Policy

• The INVEST Act aims to cut red tape and increase capital access for small businesses.
• Meeks asserts that current tariffs and uncertainty from presidential policy are harming small business owners.
• He advocates for solutions that help both small businesses and individuals with retirement accounts, highlighting the bipartisan nature of the INVEST Act.

Notable Quote:

“...the cost to the small businesses have steadily increased ... The instability and the uncertainty of the president's policies is causing and costing small businesses a lot of money.”
— Rep. Gregory Meeks [10:35]

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Memorable Moments & Quotes with Timestamps

• “[Democrats have been trying to ring the alarm for a long period of time...]” [00:54]
• “[The crises is here now that's caused by the president of the United States... And nothing has been done and nothing has been at least talked about to be to for an agreement in a bipartisan way.]” [01:58]
• “It is, you know, such craziness that's going on. I've been in Washington for a long time, a member of Congress for 27 years, and I've never seen anything like this.” [03:47]
• “[Clearly you could have, you should have seen if you could take an oil tanker in the way that they have, that you don't have to shoot down boats in the way and kill people in the way that they have.]” [05:27]
• “This is really how Russia operates. And so we are losing our values as we've seen from the national, national security report...” [05:35]
• “He just seems to bow down to the will of Russia and whatever Russia says and Russia can do whatever they want. And it's okay with this administration, but it's not okay with the American people.” [07:48]
• “The instability and the uncertainty of the president's policies is causing and costing small businesses a lot of money.” [10:35]

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Segment Timestamps

• Healthcare Subsidy Cliff & Lack of Bipartisanship: [00:25–03:47]
• Discharge Petition & House Legislative Dysfunction: [03:03–04:56]
• Venezuela Oil Tanker Seizure & Foreign Policy Critique: [04:56–09:46]
• INVEST Act & Small Business Support: [09:46–11:59]

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Tone & Language

Congressman Meeks speaks urgently but conversationally, blending personal experience with institutional critique. He’s candid about dysfunction in Congress and unreserved in his criticism of the President’s domestic and foreign policies, calling for regular legislative order, bipartisan cooperation, and a return to traditional US values.

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Conclusion

This episode provides a critical window into current struggles over healthcare, government function, foreign policy with Venezuela and Russia, and bipartisan economic reforms. Congressman Meeks is outspoken on the need for stability, oversight, and practical economic relief for everyday Americans, underscoring the human consequences of political impasse and the importance of legislative reform.

Transcript

[Nathan Hager]

Indiana University is proving how higher education can create solutions with industry. We're working side by side with industry partners to fuel economic growth that powers a future ready workforce. Explore IU's impact at iu.edu impact Bloomberg.

[Karen Moscow]

Audio Studios Podcasts Radio News Joining us.

[Nathan Hager]

Now with insight live from Capitol Hill, Democratic Congressman Gregory Meeks of New York. He's ranking member of the House Foreign Affairs Committee, member of House Financial Services Committee. And so we have a lot to talk about. Congressman, it's great to see you. Thanks for being with us here on Bloomberg TV and Radio. You heard what Eric was just telling us here. It looks like we are going to go over the cliff. Should our viewers and listeners, people who are actually on these plans, these Obamacare plans, should they expect this to be their new reality?

[Congressman Gregory Meeks]

It looks like it. I mean, Democrats have been trying to ring the alarm for a long period of time. And almost in the last 15 years, the Republicans have said that they had an alternative plan, yet no one has seen them produce anything. And this is something that should have been talked about. We've been advocating for it. We've been talking about an extension, if nothing else, to the tax credit for the Affordable Care act so that it can be figured out or we'll have more time. Republicans have refused to do that. So it just seems that they, as we've been saying all along, are in complete disarray. And as a result, it's going to hurt millions of American citizens, citizens when they see their health care. Sometimes some of them will double. And this is what we were talking about before and now it's going to become reality.

[Nathan Hager]

So the affordability crisis that we've been talking about and the president calls a Democrat hoax, it's about to get worse, Right? If we look at this through a wider frame, this feeds into higher costs that people are facing across the board.

[Congressman Gregory Meeks]

Congressman, there's no question, I mean, the American people and as we saw when the president was in Pennsylvania just recently talking about Democratic hoax, and everyone that was spoken with when they left said this is not a hoax because they know what their pockets feel like and they know what their insurance plans are looking like so that they will soon have to make a choice, many of them, of whether they continue health care or not because they may not be able to afford it. And so the crises is here now that's caused by the president of the United States. And unfortunately, the president is also the de facto speaker of the House. So the deputy speaker follows the speaker, who happens to be the president. And nothing has been done and nothing has been at least talked about to be to for an agreement in a bipartisan way. And so now we're at on a cliff, no conversation. And guess what? January 30th is not that far behind also. Hmm.

[Nathan Hager]

Well, you know, we just were talking about the possibility of another shutdown, and I don't know if anyone has the appetite for that. But I just want to ask you quickly about one of the, the, the options that is under consideration in the House of Representatives, realizing these both failed. Today in the Senate, there's a discharge petition that's been put up by Brian Fitzpatrick. It's also got a Democrat on this as well. It's Brian Fitzpatrick. As I mentioned on the Republican side, if there are enough votes here, this could be forced to the floor, Congressman. And it would extend the Obamacare subsidies by a couple of years, but also would add eligibility requirements. Is that something that you would vote for if you had the chance?

[Congressman Gregory Meeks]

Well, I haven't seen it. I would have to see it. I know there's something that they're trying to put together at the last second. You know, I think that again here we should have had the opportunity to have a dialogue and a conversation, a negotiation as opposed to what's taking place right now. So I would have to, you know, before we get out of here next week, is to look at it, to make a determination. But you can see how Congress is currently operating with this Republican leadership. Everything seems to have to be done by a motion to discharge. We cannot get anything on the floor so that we can vote in regular order. It is, you know, such craziness that's going on. I've been in Washington for a long time, a member of Congress for 27 years, and I've never seen anything like this. And so though I believe a number of votes, if we had the opportunity to vote for them on the floor, the speed speaker and the President has blocked them. And so the only recourse that members are having is to try to work with motions to discharge and get 218 votes as what took place with the Epstein vote.

[Nathan Hager]

Congressman, I want you to put on your foreign relations cap here and talk to us about what's happening off the coast of Venezuela because the United States has decided to seize an oil tanker. The President says that we will probably keep the oil. There are questions about what happens to the crew and whether more of these are about to happen. The US has just sanctioned six more of these. Is this the way things work now in the Caribbean?

[Congressman Gregory Meeks]

Well, look, they are Illegal in the way that it's working now. I think that, number one, you know, you first heard that the president was down off the coast of Venezuela because of drugs. Clearly by taking this oil tanker. It's not about drugs. And clearly you could have, you should have seen if you could take an oil tanker in the way that they have, that you don't have to shoot down boats in the way and kill people in the way that they have. So it is not about drugs. It's about regime change to one degree and taking access to Venezuelan oil. Those seem to be the main motivations of the President of the United States. And this is not the way that we generally have historically operated in the United States. This is really how Russia operates. And so we are losing our values as we've seen from the national, national security report that came out that says, you know, Russia, China and the United States forget about our friends and allies and how do we work with them. So all of this is coming to a head right now. So I strongly disagree and I think the American people disagree. The president should be coming to Congress if this is a war that he's trying to get us into. That's why I do have a bill dealing with a War Powers act so that demanding that the president comes and talk to Congress and stop trying to work a around Congress to avoid us so that we can do our oversight responsibilities in an appropriate way.

[Nathan Hager]

When does that go to the floor, Congressman, and will you get a single Republican vote?

[Congressman Gregory Meeks]

Well, I think that we would get, we were working diligent now talking to other members. And that's why the speaker refuses to allow the bill on the floor because he knows if it reaches the floor, we would have a strong bipartisan vote. And so that's why they try to block it and make rules that will not allow the bill to come to the floor at the appropriate time.

[Nathan Hager]

You know, you mentioned Russia. Vladimir Putin is, is on the phone with, with Maduro expressing solidarity today. In fact, they went back to this strategic treaty that was signed in May to talk about how this can be exploited more, confirming their commitment to joint projects in trade, the economy, energy and other areas. Is Vladimir Putin about to make this more complicated?

[Congressman Gregory Meeks]

Well, he is. I mean, look, and there's some reason why the President of the United States, you know, we see that Russia's already killing Ukrainians on a daily basis just about Russia is now joining hands with Nicolas Maduro and why the President of the United States is not standing strong and making sure that, you know, you talk about using power, you know, to control the situation. Yet he just seems to bow down to the will of Russia and whatever Russia says and Russia can do whatever they want. And it's okay with this administration, but it's not okay with the American people. It's not okay with Democrats in the House and the Senate. And we're going to make sure that we have those voices. And I would hope that some of my Republican colleagues would finally join us and stand with us to hold this president accountable and make sure that we keep the high standards and morals that we have with our European allies and others.

[Nathan Hager]

This, I don't know if that will cover the seizure of oil tankers like we saw, Congressman, but if this did in fact come from a shadow fleet, if this boat was operating illegally, do we owe that oil back to somebody? And what happens to the crew?

[Congressman Gregory Meeks]

Well, look, I would tell you generally in all of the time that I've been in Congress before, before this is done, there is at least with the Intelligence Committee, sometimes with the Armed Services Committee and sometimes with the Foreign Affairs Committee and sometimes in a combination thereof and definite with both Democrat and Republican leadership in the House, there is a dialogue and conversation. They go in the skiff or they go down to the White House and they have a dialogue and they talk and they plan and at least indicate what they intend on doing. And in this situation, it's just chaos where you have a president who's just running amok doing whatever he wants to do and oftentimes violating the normal states and I believe also violating the rules of law.

[Nathan Hager]

I want to ask you about the INVEST act while you're with us, Congressman, because you've got a lot of small business owners who are watching and listening right now. And I just talked about the state of small business with the head of the sba, Kelly Lefler. Here's what she told us.

[Karen Moscow]

Between tax cuts, deregulation, fair trade, we see jobs and opportunities coming back to America and then $18 trillion of investment coming in. A lot of that's going to play out Main Street. And that's why small business optimism, according to the US Chamber, is at all time highs. And you've got consumer confidence on the rise again. So consumers know that the best is yet to come.

[Nathan Hager]

First, what she told us argues with a lot of the data that we're seeing. Congressman, the INVEST act cuts red tape, expands access to capital. Will that help small business owners get around high prices?

[Congressman Gregory Meeks]

Well, that's what we want to do because we know that the policy that the president is Putting forth now, for example, with his tariffs. If you spoke to any small business, you know, the cost to the small businesses have steadily increased, if not decreased. They're increased, causing them problems. The instability and the uncertainty of the president's policies is causing and costing small businesses a lot of money. They do not know they can't, you know, get the right inventory. They don't know how much to buy because how much is going to cost going up. So as I speak to small businesses, this administration's policies have been devastating to them and devastating to the American consumer. And so that's why I was glad to be able to work with some of my Republican colleagues on the Financial Services Committee so that we can do something for small businesses, get access, help them get access to capital and for those individuals also who have 401s or IRAs for helping them with their retirements. And so we're trying to make sure that we are reaching to the small business and the average everyday worker like 62% of them who are invested in the markets. So it's not just the super rich friends of the president that having benefits, but it is the working people of America. And that's what we're trying to do there because clearly the President's policies are not working well.

[Nathan Hager]

I know it's a bipartisan effort right now. I'd like to stay in touch with you on that. Democratic Congressman Gregory Meeks of New York, we thank you so much.

[Karen Moscow]

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[Nathan Hager]

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[Karen Moscow]

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[Nathan Hager]

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