Richard J. Durbin
Senator for Illinois · Democratic · United States
“(c) Duties of the Commission.--The Commission shall-- (1) conduct pursuant to subsection (a) a comprehensive study that examines and assesses the adequacy of laws addressing child marriage and the extent of child marriage across the country, including making specific findings relating to-- (A) barriers to and gaps in services for minors f…”
“(c) Duties of the Commission.--The Commission shall-- (1) conduct pursuant to subsection (a) a comprehensive study that examines and assesses the adequacy of laws addressing child marriage and the extent of child marriage across the country, including making specific findings relating to-- (A) barriers to and gaps in services for minors f…”
“(4) Qualifications.--Members appointed under paragraph (1) shall have demonstrated experience or expertise in-- (A) providing services to survivors of child marriage in the United States; (B) providing services to immigrant survivors of child marriage in the United States; (C) working with State governments to limit child marriage; (D) th…”
“(4) Qualifications.--Members appointed under paragraph (1) shall have demonstrated experience or expertise in-- (A) providing services to survivors of child marriage in the United States; (B) providing services to immigrant survivors of child marriage in the United States; (C) working with State governments to limit child marriage; (D) th…”
“(3) Rule of construction.--The amendments made by this subsection may not be construed to preclude, limit, or modify eligibility of any noncitizen spouse subjected to battery or extreme cruelty and otherwise eligible for relief as a VAWA self-petitioner (as defined in section 101(a)(51) of the Immigration and Nationality Act (8 U.S.C.”
“(3) Rule of construction.--The amendments made by this subsection may not be construed to preclude, limit, or modify eligibility of any noncitizen spouse subjected to battery or extreme cruelty and otherwise eligible for relief as a VAWA self-petitioner (as defined in section 101(a)(51) of the Immigration and Nationality Act (8 U.S.C.”
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“``(3) In consideration of Federal policy encouraging the practice and process of collective bargaining and in recognition of the bargained-for expectations of the employees covered by the collective bargaining agreement, modifications proposed by the trustee-- ``(A) shall be proposed only as part of a program of workforce and nonworkforce cost savings devised for the reorganization of the debtor, including savings in management personnel costs; ``(B) shall be limited to modifications designed to achieve a specified aggregate financial contribution for the employees covered by the collective bargaining agreement (taking into consideration any labor cost savings negotiated within the 12-month period before the filing of the petition), and shall be not more than the minimum savings essential to permit the debtor to exit bankruptcy, such that confirmation of a plan of reorganization is not likely to be followed by the liquidation, or the need for further financial reorganization, of the debtor (or any successor to the debtor) in the short term; and ``(C) shall not be disproportionate or overly burden the employees covered by the collective bargaining agreement, either in the amount of the cost savings sought from such employees or the nature of the modifications.”
“``(2) The initial proposal and subsequent proposals by the trustee for modification of a collective bargaining agreement shall be based upon a business plan for the reorganization of the debtor, and shall reflect the most complete and reliable information available. The trustee shall provide to the labor organization all information that is relevant for negotiations. The court may enter a protective order to prevent the disclosure of information if disclosure could compromise the position of the debtor with respect to the competitors in the industry of the debtor, subject to the needs of the labor organization to evaluate the proposals of the trustee and any application for rejection of the collective bargaining agreement or for interim relief pursuant to this section.”
“Any such payment required to be made before a plan confirmed under section 1129 is effective has the status of an allowed administrative expense under section 503. ``(c)(1) If the trustee seeks modification of a collective bargaining agreement, the trustee shall provide notice to the labor organization representing the employees covered by the collective bargaining agreement that modifications are being proposed under this section, and shall promptly provide an initial proposal for modifications to the collective bargaining agreement. Thereafter, the trustee shall confer in good faith with the labor organization, at reasonable times and for a reasonable period in light of the complexity of the case, in attempting to reach mutually acceptable modifications of the collective bargaining agreement.”
“Section 1113 of title 11, United States Code, is amended by striking subsections (a) through (f) and inserting the following: ``(a) The debtor in possession, or the trustee if one has been appointed under this chapter, other than as provided in section 103(m) for collective bargaining agreements covered by the Railway Labor Act (45 U.S.C. 151 et seq.), may reject a collective bargaining agreement only in accordance with this section. In this section, a reference to the trustee includes the debtor in possession. ``(b) No provision of this title shall be construed to permit the trustee to unilaterally terminate or alter any provision of a collective bargaining agreement before complying with this section. The trustee shall timely pay all monetary obligations arising under the terms of the collective bargaining agreement.”
“SEC. 105. PRIORITY FOR WARN ACT DAMAGES. Section 503(b)(1)(A)(ii) of title 11, United States Code is amended by inserting ``any back pay, civil penalty, or damages for a violation of any Federal or State labor and employment law, including the Worker Adjustment and Retraining Notification Act (29 U.S.C. 2101 et seq.) and any comparable State law, and'' before ``wages and benefits'' each place that term appears. [[Page S2524]] TITLE II--REDUCING EMPLOYEES' AND RETIREES' LOSSES SEC. 201. REJECTION OF COLLECTIVE BARGAINING AGREEMENTS.”
“SEC. 104. FINANCIAL RETURNS FOR EMPLOYEES AND RETIREES. Section 1129(a) of title 11, United States Code is amended-- (1) by striking paragraph (13) and inserting the following: ``(13) With respect to retiree benefits, as that term is defined in section 1114(a), the plan-- ``(A) provides for the continuation after the effective date of the plan of payment of all retiree benefits at the level established pursuant to subsection (e)(1)(B) or (g) of section 1114 at any time before the date of confirmation of the plan, for the duration of the period for which the debtor has obligated itself to provide such benefits, or if no modifications are made before confirmation of the plan, the continuation of all such retiree benefits maintained or established in whole or in part by the debtor before the date of the filing of the petition; and ``(B) provides for recovery of claims arising from the modification of retiree benefits or for other financial returns, as negotiated by the debtor and the authorized representative (to the extent that such returns are paid under, rather than outside of, a plan).''; and (2) by adding at the end the following: ``(17) The plan provides for recovery of damages payable for the rejection of a collective bargaining agreement, or for other financial returns as negotiated by the debtor and the authorized representative under section 1113 (to the extent that such returns are paid under, rather than outside of, a plan).''.”
“Section 503(b) of title 11, United States Code, is amended-- (1) in paragraph (8)(B), by striking ``and'' at the end; (2) in paragraph (9), by striking the period and inserting a semicolon; and (3) by adding at the end the following: ``(10) severance pay owed to employees of the debtor (other than to an insider of the debtor, a senior executive officer of the debtor, the 20 highest compensated employees of the debtor who are not insiders or senior executive officers, any department or division manager of the debtor, or any consultant providing services to the debtor), under a plan, program, or policy generally applicable to employees of the debtor (but not under an individual contract of employment), or owed pursuant to a collective bargaining agreement, for layoff or termination on or after the date of the filing of the petition, which pay shall be deemed earned in full upon such layoff or termination of employment; and ``(11) any contribution to an employee benefit plan that is due on or after the date of the filing of the petition.''.”
“1002(34))) for the benefit of an individual who is not an insider, a senior executive officer, or any of the 20 highest compensated employees of the debtor who are not insiders or senior executive officers; ``(ii) the equity securities were attributable to either employer contributions by the debtor or an affiliate of the debtor, or elective deferrals (within the meaning of section 402(g) of the Internal Revenue Code of 1986), and any earnings thereon; and ``(iii) an employer or plan sponsor who has commenced a case under this title has committed fraud with respect to such plan or has otherwise breached a duty to the participant that has proximately caused the loss of value.''. SEC. 103. PRIORITY FOR SEVERANCE PAY AND CONTRIBUTIONS TO EMPLOYEE BENEFIT PLANS.”
“SEC. 102. CLAIM FOR STOCK VALUE LOSSES IN DEFINED CONTRIBUTION PLANS. Section 101(5) of title 11, United States Code, is amended-- (1) in subparagraph (A), by striking ``or'' at the end; (2) in subparagraph (B), by striking the period at the end and inserting ``; or''; and (3) by adding at the end the following: ``(C) right or interest in equity securities of the debtor, or an affiliate of the debtor, if-- ``(i) the equity securities are held in a defined contribution plan (within the meaning of section 3(34) of the Employee Retirement Income Security Act of 1974 (29 U.S.C.”
“Section 507(a) of title 11, United States Code, is amended-- (1) in paragraph (4)-- (A) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively; (B) in the matter preceding clause (i), as so redesignated, by inserting ``(A)'' before ``Fourth''; (C) in subparagraph (A), as so designated, in the matter preceding clause (i), as so redesignated-- (i) by striking ``$10,000'' and inserting ``$20,000''; (ii) by striking ``within 180 days''; and (iii) by striking ``or the date of the cessation of the debtor's business, whichever occurs first,''; and (D) by adding at the end the following: ``(B) Severance pay described in subparagraph (A)(i) shall be deemed earned in full upon the layoff or termination of employment of the individual to whom the severance is owed.''; and (2) in paragraph (5)-- (A) in subparagraph (A)-- (i) by striking ``within 180 days''; and (ii) by striking ``or the date of the cessation of the debtor's business, whichever occurs first''; and (B) by striking subparagraph (B) and inserting the following: ``(B) for each such plan, to the extent of the number of employees covered by each such plan, multiplied by $20,000.''.”
“(2) Laws enacted to improve recoveries for employees and retirees and limit their losses in bankruptcy cases have not kept pace with the increasing and broader use of bankruptcy by businesses in all sectors of the economy. However, while protections for employees and retirees in bankruptcy cases have eroded, management compensation plans devised for those in charge of troubled businesses have become more prevalent and are escaping adequate scrutiny. (3) Changes in the law regarding these matters are urgently needed as bankruptcy is used to address increasingly more complex and diverse conditions affecting troubled businesses and industries. TITLE I--IMPROVING RECOVERIES FOR EMPLOYEES AND RETIREES SEC. 101. INCREASED WAGE PRIORITY.”
“Assumption of executive benefit plans. Sec. 305. Recovery of executive compensation. Sec. 306. Preferential compensation transfer. TITLE IV--OTHER PROVISIONS Sec. 401. Union proof of claim. Sec. 402. Exception from automatic stay. Sec. 403. Effect on collective bargaining agreements under the Railway Labor Act. SEC. 2. FINDINGS. The Congress finds the following: (1) Business bankruptcies have increased sharply in recent years and remain at high levels. These bankruptcies include several of the largest business bankruptcy filings in history. As the use of bankruptcy has expanded, job preservation and retirement security are placed at greater risk.”
“Priority for severance pay and contributions to employee benefit plans. Sec. 104. Financial returns for employees and retirees. Sec. 105. Priority for WARN Act damages. TITLE II--REDUCING EMPLOYEES' AND RETIREES' LOSSES Sec. 201. Rejection of collective bargaining agreements. Sec. 202. Payment of insurance benefits to retired employees. Sec. 203. Protection of employee benefits in a sale of assets. Sec. 204. Claim for pension losses. Sec. 205. Payments by secured lender. Sec. 206. Preservation of jobs and benefits. Sec. 207. Termination of exclusivity. Sec. 208. Claim for withdrawal liability. TITLE III--RESTRICTING EXECUTIVE COMPENSATION PROGRAMS Sec. 301. Executive compensation upon exit from bankruptcy. Sec. 302. Limitations on executive compensation enhancements. Sec. 303. Prohibition against special compensation payments. Sec. 304.”
“Mr. President, I ask unanimous consent that the text of the bill be printed in the Record. There being no objection, the text of the bill was ordered to be printed in the Record, as follows: S. 1381 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) Short Title.--This Act may be cited as the ``Protecting Employees and Retirees in Business Bankruptcies Act of 2025''. (b) Table of Contents.--The table of contents of this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Findings. TITLE I--IMPROVING RECOVERIES FOR EMPLOYEES AND RETIREES Sec. 101. Increased wage priority. Sec. 102. Claim for stock value losses in defined contribution plans. Sec. 103.”
“Providing housing, resources, and support for families with children who are ill or injured, the nearly hundreds of Ronald McDonald House programs across the world keep families traveling for their child's medical needs cared for and together. And McDonald's helps make this effort a reality. The story of McDonald's is one of three sons of immigrants using their drive, ingenuity, and ambition to go from a local drive-in restaurant to one of the most profitable businesses the world has ever known. While the days of 15-cent hamburgers and 20-cent cheeseburgers may be gone, the economic contributions and storied history of McDonald's continues to strengthen Illinois and our Nation. I am grateful Chicago is home to such a treasured American franchise that reminds us of the promise of America.”
“So many stops, in fact, that my wife Loretta and my chief of staff conspired to institute a rule: No more pit stops at McDonald's. You also are sure find McDonald's on your international travels. In fact, I remember being in Moscow when the first McDonald's opened in Pushkin Square. It was January 31, 1990, and I remember seeing the dreary grey colors of the former Soviet Union punctuated by the Golden Arches. It was a vision of hope for many, representing the possibilities available under a free society. But the reach of McDonald's goes beyond hamburgers and french fries. If you are a parent whose child is dealing with the devastation of illness, you have heard of Ronald McDonald House.”
“While this liberal arts lawyer is far from a high-rolling stock broker, I am not shy to say that I knew McDonald's was going to be a success. Not because of any sophisticated financial analysis or detailed market research--I just knew the McDonald's in East St. Louis was one of the few restaurants that always had a line. [[Page S2507]] Today, McDonald's operates 36,000 restaurants in more than 100 nations, and it bolsters economies across the country and world. And there are few more recognizable logos than the McDonald's Golden Arches. Crisscrossing the State of Illinois requires driving hundreds of miles on interstate highways. And after long stretches on the road, I have made my fair share of stops at the Golden Arches.”
“It was a success, and people noticed. One of those people was Ray Kroc, a traveling salesman from Oak Park, IL. Kroc also was the son of immigrants, his parents were born in Bohemia, which is now part of the Czech Republic. Ray became enamored by Dick and Mac's business model and had a vision of expanding the chain across the Nation--with a goal of opening 1,000 restaurants in the U.S. Before long, Ray returned to Chicago with the rights in hand to establish McDonald's restaurants throughout the country. On April 15, 1955, Kroc opened his first McDonald's restaurant in Des Plaines, IL--the City of Destiny. Its first day of sales was $366.12, equivalent to about $4,374 today. A global franchise was born.”
“You can find stories like this everywhere, even in places you might least expect them. Take the story of McDonald's. Next week, McDonald's is celebrating 70 years of selling hamburgers, strengthening communities, and connecting people. Since 1971, Illinois has been home to the headquarters of McDonald's, but the multibillion-dollar hamburger chain's history with the Prairie State does not begin there. In the 1920s, Richard ``Dick'' and Maurice ``Mac'' McDonald, two sons of Irish immigrants, headed to California to try their luck in Hollywood. By the 1940s, they had pivoted to the drive-in restaurant industry, opening their first McDonald's restaurant in San Bernardino, CA. With their simple menu and signature Speedee Service System to efficiently serve a large number of customers, McDonald's soon became the talk of California.”
“Congressional Record, Volume 171 Issue 64 (Wednesday, April 9, 2025) [Congressional Record Volume 171, Number 64 (Wednesday, April 9, 2025)] [Senate] [Pages S2506-S2507] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] RECOGNIZING 70 YEARS OF MCDONALD'S Mr. DURBIN. Mr. President, I am the son of an immigrant from East St. Louis, IL. As a reminder to myself, I keep my mother's naturalization certificate on a table behind my desk in the U.S. Capitol. She came to the United States from Lithuania, fleeing oppression from the Soviet Union, when she was just 2 years old. Little did she know that her youngest son would go on to become a U.S. Senator. This might be my personal story as the son of an immigrant, but it also is the story of America--the American dream.”
“The PRESIDING OFFICER. Under the previous order, the motion to reconsider is considered made and laid upon the table, and the President will be immediately notified of the Senate's action. ____________________”
“205 Ex.] YEAS--52 Banks Barrasso Blackburn Boozman Britt Budd Capito Cassidy Collins Cornyn Cotton Cramer Crapo Cruz Curtis Daines Ernst Fischer Graham Grassley Hagerty Hawley Hoeven Husted Hyde-Smith Johnson Justice Kennedy Lankford Lee Lummis Marshall McConnell McCormick Moody Moran Moreno Murkowski Paul Ricketts Risch Rounds Schmitt Scott (FL) Scott (SC) Sheehy Sullivan Thune Tillis Tuberville Wicker Young NAYS--44 Alsobrooks Baldwin Bennet Blumenthal Blunt Rochester Booker [[Page S2506]] Cantwell Coons Cortez Masto Duckworth Durbin Gallego Gillibrand Hassan Heinrich Hickenlooper Hirono Kaine Kelly Kim King Klobuchar Lujan Markey Merkley Murphy Murray Ossoff Padilla Peters Reed Rosen Schatz Schiff Schumer Shaheen Slotkin Smith Van Hollen Warnock Warren Welch Whitehouse Wyden NOT VOTING--4 Fetterman Mullin Sanders Warner The nomination was confirmed.”
“I announce that the Senator from Pennsylvania (Mr. Fetterman), the Senator from Vermont (Mr. Sanders), and the Senator from Virginia (Mr. Warner) are necessarily absent. The result was announced--yeas 52, nays 44, as follows: [Rollcall Vote No.”
“The PRESIDING OFFICER (Mr. Schmitt). Under the previous order, the motion to reconsider is considered made and laid upon the table, and the [[Page S2496]] President will be immediately notified of the Senate's action. The Senator from Massachusetts.”
“I announce that the Senator from Vermont (Mr. Sanders) is necessarily absent. The result was announced--yeas 51, nays 45, as follows: [Rollcall Vote No. 204 Ex.] YEAS--51 Banks Barrasso Blackburn Boozman Britt Budd Capito Cassidy Collins Cornyn Cotton Cramer Crapo Cruz Curtis Daines Ernst Fischer Graham Grassley Hagerty Hoeven Husted Hyde-Smith Johnson Justice Kennedy Lankford Lee Lummis Marshall McConnell McCormick Moody Moran Moreno Murkowski Paul Ricketts Risch Rounds Schmitt Scott (FL) Scott (SC) Shaheen Sheehy Sullivan Thune Tillis Wicker Young NAYS--45 Alsobrooks Baldwin Bennet Blumenthal Blunt Rochester Booker Cantwell Coons Cortez Masto Duckworth Durbin Fetterman Gallego Gillibrand Hassan Heinrich Hickenlooper Hirono Kaine Kelly Kim King Klobuchar Lujan Markey Merkley Murphy Murray Ossoff Padilla Peters Reed Rosen Schatz Schiff Schumer Slotkin Smith Van Hollen Warner Warnock Warren Welch Whitehouse Wyden NOT VOTING--4 Hawley Mullin Sanders Tuberville The nomination was confirmed.”
“The PRESIDING OFFICER (Mr. Curtis). Under the previous order, the motion to reconsider is considered made and laid upon the table, and the President will be notified of the Senate's action. ____________________”
“I announce that the Senator from Vermont (Mr. Sanders) is necessarily absent. The result was announced--yeas 49, nays 46, as follows: [Rollcall Vote No. 203 Ex.] YEAS--49 Banks Blackburn Boozman Britt Budd Capito Cassidy Collins Cornyn Cotton Cramer Crapo Cruz Curtis Daines Ernst Fischer Graham Grassley Hagerty Hoeven Husted Hyde-Smith Johnson Justice Kennedy Lankford Lee Lummis Marshall McConnell McCormick Moody Moran Moreno Murkowski Paul Ricketts Risch Rounds Schmitt Scott (SC) Sheehy Sullivan Thune Tillis Tuberville Wicker Young NAYS--46 Alsobrooks Baldwin Bennet Blumenthal Blunt Rochester Booker Cantwell Coons Cortez Masto Duckworth Durbin Fetterman Gallego Gillibrand Hassan Heinrich Hickenlooper Hirono Kaine Kelly Kim King Klobuchar Lujan Markey Merkley Murphy Murray Ossoff Padilla Peters Reed Rosen Schatz Schiff Schumer Shaheen Slotkin Smith Van Hollen Warner Warnock Warren Welch Whitehouse Wyden NOT VOTING--5 Barrasso Hawley Mullin Sanders Scott (FL) The nomination was confirmed.”
“The PRESIDING OFFICER. Under the previous order, the motion to reconsider is considered made and laid upon the table, and the President will be immediately notified of the Senate's action. ____________________”
“I announce that the Senator from Vermont (Mr. Sanders) is necessarily absent. The result was announced--yeas 60, nays 37, as follows: [Rollcall Vote No. 202 Ex.] YEAS--60 Banks Blackburn Boozman Britt Budd Capito Cassidy Collins Cornyn Cotton Cramer Crapo Cruz Curtis Daines Ernst Fetterman Fischer Graham Grassley Hagerty Hassan Hawley Hoeven Husted Hyde-Smith Johnson Justice Kaine Kennedy King Klobuchar Lankford Lee Lummis Marshall McConnell McCormick Moody Moran Moreno Murkowski Paul Peters Ricketts Risch Rounds Schmitt Scott (FL) Scott (SC) Shaheen Sheehy Slotkin Sullivan Thune Tillis Tuberville Warner Wicker Young NAYS--37 Alsobrooks Baldwin Bennet Blumenthal Blunt Rochester Booker Cantwell Coons Cortez Masto Duckworth Durbin Gallego Gillibrand Heinrich Hickenlooper Hirono Kelly Kim Lujan Markey Merkley Murphy Murray Ossoff Padilla Reed Rosen Schatz Schiff Schumer Smith Van Hollen Warnock Warren Welch Whitehouse Wyden NOT VOTING--3 Barrasso Mullin Sanders The nomination was confirmed.”
“200 Ex.] YEAS--51 Banks Barrasso Blackburn Boozman Britt Budd Capito Cassidy Collins Cornyn Cotton Cramer Crapo Cruz Curtis Daines Ernst Fischer Graham Grassley Hagerty Hawley Hoeven Husted Hyde-Smith Johnson Justice Kennedy Lankford Lee Lummis Marshall McConnell McCormick Moody Moran Moreno Murkowski Paul Ricketts Risch Rounds Schmitt Scott (FL) Scott (SC) Sheehy Sullivan Tillis Tuberville Wicker Young NAYS--45 Alsobrooks Baldwin Bennet Blumenthal Blunt Rochester Booker Cantwell Coons Cortez Masto Duckworth Durbin Fetterman Gallego Hassan Heinrich Hickenlooper Hirono Kaine Kelly Kim King Klobuchar Lujan Markey Merkley Murphy Murray Ossoff Padilla Peters Reed Rosen Schatz Schiff Schumer Shaheen Slotkin Smith Van Hollen Warner Warnock Warren Welch Whitehouse Wyden NOT VOTING--4 Gillibrand Mullin Sanders Thune The PRESIDING OFFICER (Mr.”
“I announce that the Senator from New York (Mrs. Gillibrand) and the Senator from Vermont (Mr. Sanders) are necessarily absent. The yeas and nays resulted--yeas 51, nays 45, as follows: [Rollcall Vote No.”
“Urgent medical and humanitarian supplies that had increased during the first phase of the cease-fire must be maintained and allowed in once again, and this ghastly 18-month war must finally come to an end. I yield the floor. The PRESIDING OFFICER (Mr. Sheehy). The Senator from Arkansas.”
“Congressional Record, Volume 171 Issue 64 (Wednesday, April 9, 2025) [Congressional Record Volume 171, Number 64 (Wednesday, April 9, 2025)] [Senate] [Page S2487] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] Gaza Finally, Mr. President, on a separate topic that I mentioned earlier, if you tuned in to ``60 Minutes'' in the last few weeks, you were reminded of the horrors that continue in Gaza. I do believe I will put this statement in the Record, but I want to commend two doctors from Chicago who have volunteered and risked their lives to go to Gaza. Dr. Lisa Thornton, a pediatric rehabilitation expert from Chicago, and orthopedic surgeon Dr. Samar Attar volunteered for the Syrian American Medical Society. They know the horrors of war, and they reported it accurately on that program.”
“And add tanking our economy and hurting working families in the process to a long list of inexplicable decisions by the Trump administration. Donald Trump was bad as a TV real estate mogul, he was bad as a cheerleader on January 6, and he is bad as a doctor, with his failed Trump tariff tax operation.”
“And this, I can say: In the week after Trump's self-destructive announcement, the S&P 500 dropped by nearly 19 percent--19 percent--from its last high on February 19, creeping eerily close to bear market territory. Last week's drop wiped out more than $5 trillion of total wealth. Overnight, many Americans watched their retirement accounts plummet-- what a sinking feeling to see that happen in such a short period of time. Americans who scrimped and saved their whole working lives for their retirement, who worked multiple jobs and made sacrifices to ensure they would have enough to live comfortably in their golden years, have been stunned by what has happened in just a matter of days with the Trump tariff tax.”
“They have yet to specify what they want from other countries. And why would any country want to do business with the United States again if trade agreements can be violated so willfully? After threatening a 34-percent tariff on China, Trump raised it to 104 percent. And just this morning, China announced a retaliatory 84- percent tariff on American goods starting tomorrow. This is going to devastate our economy. In Illinois, it will hurt our farmers who export thousands of tons of soybeans, American corn, pork, and more to China. Unsurprisingly, the markets have responded with shock and panic. I know that half of the American people don't own stock or really follow what is happening in the stock market closely, but many do.”
“The ``operation'' in his twisted metaphor, of course, was Trump's tariff tax, a 10-percent tariff on imports from almost every nation in the world, and the ``patient'' is supposed to be the U.S. economy. If this is Dr. Trump's idea of a successful operation, he should be sued for medical malpractice. He is playing a dangerous game and, this Trump tariff-tax gambit could push our country into a desperate recession. Small businesses in Illinois--and large ones as well--have reached out to our office, concerned that the uncertainty brought on by this administration could leave them no other choice but to cut jobs due to increased costs. Some have even said their businesses would go under due to these tariffs--their life's work rendered to nothing. Nobody knows what this administration wants to get out of these tariffs.”
“He played a billionaire real estate mogul on the hot, hit reality show ``The Apprentice.'' On January 6, 2021, he played a cheerleader, ramping up an angry mob of insurrectionists to storm the U.S. Capitol. But his latest role may be the most outlandish. He calls himself a doctor. On Thursday, after the President's so-called ``Liberation Day'' of tariffs, he took to social media to announce to the world: THE OPERATION IS OVER! THE PATIENT LIVED, AND IS HEALING. THE PROGNOSIS IS THAT THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE. That was reported by the President after his so so-called ``Liberation Day'' of tariffs.”
“If the President Trump tariff tax continues unabated, it is going to destroy this economy--period, end of quote. We are dealing with many people who feel that we are already in a recession or headed to one quickly. Will there be four Republicans who will step up and say: Stop. We cannot do this without some thoughtful consideration of what impact it is going to have on our economy? If four of them will step up in the House and four in the Senate, we can make history together on a bipartisan basis and come up with something that is thoughtful and avoids this terrible chaos and the reckless conduct of this administration to date. President Trump has played many roles in his career.”
“Herbert Hoover signed the Smoot-Hawley law, which imposed tariffs on the world in June of 1930, and then President Hoover went fishing. President Trump signed off on these massive tariffs and went on to play golf at Mar-a-Lago. I don't get it. This is the most serious economic and trade situation we have faced in modern times. Businesses are desperate looking around at how to resolve this in a fashion to keep themselves in business and to employ critical employees. This is the moment when we should be gathering together and talking about, specifically, where we are headed. But the best I can tell is that we are putting at risk our constancy, our reliability, and the trust of nations all around the world because of this undertaking.”
“So what is the difference here between making a speech on the floor of the Senate and actually doing something to impact this tariff war that Donald Trump has started? The difference is four--four Members of the U.S. Senate on the Republican side. If any four will step forward and say: Enough. We have a constitutional opportunity and responsibility when it comes to tariffs and our dealings with foreign countries, and we, as four Republicans, will join with the Democrats in engaging in a bipartisan discussion over how to go forward from here. If they don't step up--if four Republicans don't step up--then Donald Trump will continue this tariff war at the expense of American businesses and American workers and American taxpayers and our reputation in the world. That much is at stake.”
“What is going on with this administration? And, of course, there are many other countries as well. The European Union will never be the same in terms of its relationship with the United States. And I can't blame them at all. They are basically saying: We cannot trust the United States' leadership, if Donald Trump can do this to us, in a matter of weeks, as the new President of the United States. We have seen the tariff in China go from 34 percent to 104 percent, and the Chinese are going to make us pay for that, as they have promised they would. I am not surprised. If the shoe were on the other foot, that is exactly what [[Page S2487]] we would be saying too: You can't push us around. We are a sovereign nation.”
“I think it is highly unlikely that he will do it, but anything is possible with this man. This much I do know: The damage Donald Trump has done to the international reputation of the United States is immeasurable. You see the leaders in these countries and what they are saying. They thought that they were close friends and allies of the United States, and now they appear to be adversaries, and there is a strategy underway to punish them. Canada, for goodness' sake? Is that what the last election was about--our relationship with Canada? I consider Canada not only a good neighbor but a great neighbor, an ally of the United States, a partner of the United States, over and over again, when we have engaged in conflict. And to say now that we are virtually in an economic war with Canada is unimaginable.”
“And, sadly, some of the minerals which are desperately needed in my production effort are virtually controlled by China. Well, naturally, with the battle over the tariffs underway, China has decided to cut off American manufacturers from the availability of those critical chemicals, and that means restraining the production in the United States of some very important and worthwhile products. He said to me: What am I supposed to do? I said: I don't know. I don't know if anybody in this administration has thought through what they have started. We clearly may reach a point soon--and I hope it happens--where Donald Trump says: Fine, I want to declare victory. We are going to reverse course. It is going to be business as usual between the United States and the world.”
“Congressional Record, Volume 171 Issue 64 (Wednesday, April 9, 2025) [Congressional Record Volume 171, Number 64 (Wednesday, April 9, 2025)] [Senate] [Pages S2486-S2487] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] Tariffs Mr. President, on a separate topic, I want to address the Trump tariff tax--Trump tariff tax. It started this week. It is already changing not only the economy of the United States but the world. It has been a reckless undertaking, creating pure chaos. I received a phone call yesterday from a business leader. I won't identify him, but he was desperate. He said to me: President Trump and his people don't understand a supply chain. I am not selling T-shirts, he said. I am selling sophisticated products that require chemicals and electronics that are rare to find.”
“I am not making any excuse for Hamas, but I have to tell you, after meeting with the doctors who have been there, it breaks my heart to think this continues every day, and innocent people are in the midst of this gunfire and losing their lives. Whatever your cause may be, wherever you stand politically, we should all keep them in mind as we decide what our future course of action will be.”
“If it is going to continue until every Hamas terrorist is killed, I am afraid there will be thousands and thousands of innocent Palestinians lost in the process. Why? Because the Hamas soldiers hide themselves among the general population and use them as their shield. It is a dastardly, deadly strategy which has cost so many lives. Those of us who voted to restrain the weapons that were going to be sent by the United States to Israel did it with the understanding that there were particular weapons--for example, the detonation bombs that weigh a ton or more--that could kill innocent people and have, over and over again. This war must come to an end. This cease-fire should be resumed, and the hostages returned immediately--all hostages returned immediately.”
“Some report that the humanitarian aid is being held back from the Palestinians--innocent Palestinians--to the detriment of their hospitals and feeding their people. Some suggest that a famine is underway in some parts of Gaza. I don't have any personal knowledge, but, I will tell you, the scenes that were depicted last Sunday on ``60 Minutes'' are heartbreaking. Two doctors from Chicago had gone there risking their lives to volunteer to try to save the children and those who have been the victims of Israeli bombing. And I am sorry to say they have not been as successful as they would have liked to have been. But they reported to us graphically what is going on there with the lack of medical supplies, the lack of hospitals and basic food and sustenance that is needed by the people in that area. By every single measure, this war has to end.”
“I commend that program to those who would like to see what is happening on the ground in Gaza. It is estimated that 50,000 people have been killed or seriously wounded among the Palestinians. That goes way beyond any members of Hamas or any terrorist organization. They are innocent people, the Palestinians in the Gaza area, who are simply trying to exist. They are fighting every possible element, not only an act of war with armaments killing innocent people, a large number being women and children, but also the fact that they are restrained from leaving that area and going to surrounding countries, which don't want to see the controversy exported to their borders. Secondly, there is the simple question of humanitarian assistance for the people in Gaza. There is a disparity in the reports from the area.”
“That has never diminished, for me personally or for our Nation, our commitment to Israel's right to exist and our commitment to the values that Israel stands for in the Middle East and around the world. What happened on October 7 was horrific--horrific. Some 1,200 innocent Israelis were killed, butchered, murdered by terrorists under the flag of the Hamas movement. And, unfortunately, they took hostages as well. I don't know the exact number, but I believe it was over 250 hostages who were taken. Some still remain in captivity under the control of Hamas. Israel is defending itself, and it has a right to do that. Israel certainly has a right to exist, and no terrorist organization on its border should be allowed to do so with impunity. My concern--and it was expressed graphically, dramatically, in last Sunday's ``60 Minutes'' program.”